# EDGAR Filing Document

**Accession Number:** 0000802205
**File Stem:** 0000802205-26-000012
**Filing Date:** 2026-4
**Character Count:** 541928
**Document Hash:** 92d3ae8d0130e2f6ea25720d4df250b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000802205-26-000012.hdr.sgml**: 20260422

**ACCESSION NUMBER**: 0000802205-26-000012

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260422

**DATE AS OF CHANGE**: 20260422

**EFFECTIVENESS DATE**: 20260422

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEPARATE ACCOUNT I OF INTEGRITY LIFE INSURANCE CO
- **CENTRAL INDEX KEY:** 0000802205

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04844
- **FILM NUMBER:** 26881874

**BUSINESS ADDRESS:**
- **STREET 1:** 400 BROADWAY
- **STREET 2:** MS 32
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202
- **BUSINESS PHONE:** 513-629-1114

**MAIL ADDRESS:**
- **STREET 1:** 400 BROADWAY
- **STREET 2:** MS 32
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT INA OF INTEGRITY LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### SEPARATE ACCOUNT I OF INTEGRITY LIFE INSURANCE COMPANY (Series ID: S000001054)

| Class ID   | Class Name                                                               | Ticker Symbol   |
|:---|:---|:---|
| C000002825 | Grandmaster flex3 Flexible Premium Variable Annuity                      |  |
| C000002826 | IQ 3 the Smart Annuity Flexible Premium Variable Annuity                 |  |
| C000002827 | IQ Advisor Flexible Premium Variable Annuity                             |  |
| C000002829 | AnnuiChoice Flexible Premium Variable Annuity                            |  |
| C000002830 | Pinnacleplus Flexible Premium Variable Annuity                           |  |
| C000002831 | IQ the Smart Annuity Flexible Premium Variable Annuity                   |  |
| C000034990 | AnnuiChoice II                                                           |  |
| C000059147 | AdvantEdge Flexible Premium Variable Annuity                             |  |
| C000090849 | VAROOM                                                                   |  |
| C000104723 | Pinnacle (before April 30, 1998)                                         |  |
| C000109508 | Pinnacle III (May 1, 1998 to July 16, 2001; only version sold in Oregon) |  |
| C000109509 | Pinnacle IV (July 16, 2001 to April 30, 2007)                            |  |
| C000109510 | Pinnacle V (May 1, 2007 to December 31, 2011)                            |  |
| C000109512 | Pinnacle V (post 1-1-12)                                                 |  |
| C000109514 | Select Ten Plus                                                          |  |
| C000110549 | VAROOM II                                                                |  |

Financial Statements

Separate Account I of Integrity Life Insurance Company

Year Ended December 31, 2025

With Report of Independent Registered Public

Accounting Firm

------

Separate Account I

of

Integrity Life Insurance Company

Financial Statements

Year Ended December 31, 2025

---

| | |
|:---|:---|
| **Contents** | **Contents** |
| [Report of Independent Registered Public Accounting Firm](#ic9cf4596b0eb405e85438169e14f54fe_7) | [1](#ic9cf4596b0eb405e85438169e14f54fe_7) |
| [Financial Statements](#ic9cf4596b0eb405e85438169e14f54fe_13) |  |
| Statement of Assets and Liabilities as of December 31, 2025 | [6](#ic9cf4596b0eb405e85438169e14f54fe_16) |
| [Statements of Operations for the Year ended December 31,](#ic9cf4596b0eb405e85438169e14f54fe_22)2025 | [8](#ic9cf4596b0eb405e85438169e14f54fe_22) |
| Statements of Changes in Net Assets for the Year ended December 31, 2025 | 11 |
| Statements of Changes in Net Assets for the Year ended December 31, 2024 | 14 |
| [Notes to Financial Statements](#ic9cf4596b0eb405e85438169e14f54fe_34) | 17 |

---

------

Report of Independent Registered Public Accounting Firm

The Board of Directors of Integrity Life Insurance Company and

The Contract Owners of Separate Account I of Integrity Life Insurance Company

**Opinion on the Financial Statements**

We have audited the accompanying statements of assets and liabilities of each of the subaccounts listed in Appendix A that comprise Separate Account I of Integrity Life Insurance Company (the Separate Account), as of December 31, 2025, the related statements of operations and the statements of changes in net assets for each of the periods indicated in Appendix A, 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 Appendix A, 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. <br>

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 1993.

Cincinnati, Ohio

April 20, 2026

------

**Appendix A**

Subaccounts comprising Separate Account I of Integrity Life Insurance Company

---

| | | |
|:---|:---|:---|
| **Subaccounts** | **Statement of operations** | **Statements of changes in net assets** |
| **<u>American Funds Insurance Series</u>** | |  |
| **Non-Affiliated Class 2** | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| American Funds I.S. Managed Risk Asset Allocation Fund | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| **Non-Affiliated Class 4** | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| American Funds I.S. The Bond Fund of America |  | For each of the two years in the period ended December 31, 2025 |
| American Funds I.S. Capital Income Builder Fund |  |  |
| American Funds I.S. Global Growth Fund |  |  |
| American Funds I.S. Growth Fund |  |  |
| American Funds I.S. Growth-Income Fund |  |  |
| American Funds I.S. New World Fund |  |  |
| **<u>BlackRock Variable Series Funds</u>** |  |  |
| **Non-Affiliated Class 3** |  |  |
| BlackRock Capital Appreciation V.I. Fund |  |  |
| BlackRock Global Allocation V.I. Fund |  |  |
| BlackRock High Yield V.I. Fund |  |  |
| BlackRock Total Return V.I. Fund |  |  |
| **<u>Columbia Funds Variable Portfolios</u>** |  |  |
| **Non-Affiliated Class 1** |  |  |
| Columbia VP - Select Mid Cap Value Fund |  |  |
| **Non-Affiliated Class 2** |  |  |
| Columbia VP - Small Cap Value Fund |  |  |
| **<u>DWS Investments VIT Funds</u>** |  |  |
| **Non-Affiliated Class A:** |  |  |
| DWS Small Cap Index VIP Fund |  |  |
| **Non-Affiliated Class B:** |  |  |
| DWS Small Cap Index VIP Fund |  |  |
| **<u>Fidelity Variable Insurance Products</u>** |  |  |
| **Non-Affiliated Initial Class:** |  |  |
| Fidelity VIP Balanced Portfolio |  |  |
| Fidelity VIP Overseas Portfolio |  |  |
| Fidelity VIP Equity-Income Portfolio |  |  |
| Fidelity VIP Growth Portfolio |  |  |
| Fidelity VIP High Income Portfolio |  |  |
| Fidelity VIP Asset Manager 50% Portfolio (formerly, Fidelity VIP Asset Manager Portfolio) |  |  |
| Fidelity VIP Contrafund® Portfolio |  |  |
| Fidelity VIP Index 500 Portfolio |  |  |
| Fidelity VIP Investment Grade Bond Portfolio |  |  |
| Fidelity VIP Government Money Market |  |  |

---

------

**Appendix A (continued)**

---

| | | |
|:---|:---|:---|
| **Subaccounts** | **Statement of operations** | **Statements of changes in net assets** |
| **Non-Affiliated Service Class:** | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| Fidelity VIP Equity-Income Portfolio | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| Fidelity VIP Growth Portfolio | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| Fidelity VIP High Income Portfolio |  |  |
| Fidelity VIP Asset Manager 50% Portfolio (formerly, Fidelity VIP Asset Manager Portfolio) |  |  |
| Fidelity VIP Contrafund® Portfolio |  |  |
| Fidelity VIP Balanced Portfolio |  |  |
| Fidelity VIP Mid Cap Portfolio |  |  |
| **Non-Affiliated Service Class 2:** |  |  |
| Fidelity VIP Asset Manager 50% Portfolio (formerly, Fidelity VIP Asset Manager Portfolio) |  |  |
| Fidelity VIP Balanced Portfolio |  |  |
| Fidelity VIP Bond Index Portfolio |  |  |
| Fidelity VIP Contrafund® Portfolio |  |  |
| Fidelity VIP Disciplined Small Cap Portfolio |  |  |
| Fidelity VIP Equity-Income Portfolio |  |  |
| Fidelity VIP Extended Market Index Portfolio |  |  |
| Fidelity VIP Freedom 2010 Portfolio |  |  |
| Fidelity VIP Freedom 2015 Portfolio |  |  |
| Fidelity VIP Freedom 2020 Portfolio |  |  |
| Fidelity VIP Freedom 2025 Portfolio |  |  |
| Fidelity VIP Freedom 2030 Portfolio |  |  |
| Fidelity VIP Growth Portfolio |  |  |
| Fidelity VIP High Income Portfolio |  |  |
| Fidelity VIP Index 500 Portfolio |  |  |
| Fidelity VIP International Index Portfolio |  |  |
| Fidelity VIP Investment Grade Bond Portfolio |  |  |
| Fidelity VIP Mid Cap Portfolio |  |  |
| Fidelity VIP Overseas Portfolio |  |  |
| Fidelity VIP Target Volatility Portfolio |  |  |
| Fidelity VIP Total Market Index Portfolio |  |  |
| **<u>Franklin Templeton VIP Trust</u>** |  |  |
| **Non-Affiliated Class 1:** |  |  |
| Franklin Growth and Income VIP Fund |  |  |
| Franklin Income VIP Fund |  |  |
| **Non-Affiliated Class 2:** |  |  |
| Franklin Growth and Income VIP Fund |  |  |
| Franklin Income VIP Fund |  |  |
| Franklin Large Cap Growth VIP Fund |  |  |
| Franklin Mutual Shares VIP Fund |  |  |
| Franklin Small Cap Value VIP Fund |  |  |
| Templeton Foreign VIP Fund |  |  |
| Templeton Global Bond VIP Fund |  |  |

---

------

**Appendix A (continued)**

---

| | | |
|:---|:---|:---|
| **Subaccounts** | **Statement of operations** | **Statements of changes in net assets** |
| **<u>Franklin Templeton VIP Trust (continued)</u>** | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| **Non-Affiliated Class 2:** | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| Templeton Growth VIP Fund | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| **<u>Rydex Variable Trust (Guggenheim Variable Insurance Funds)</u>** |  |  |
| **Investor Class:** |  |  |
| Guggenheim VT Global Managed Futures Strategy Fund |  |  |
| Guggenheim VT Multi-Hedge Strategies Fund |  |  |
| **<u>iShares Trust</u>** |  |  |
| **ETF Shares:** |  |  |
| iShares® Core S&P 500 ETF |  |  |
| iShares® Core S&P Mid-Cap ETF |  |  |
| iShares® Core S&P Small-Cap ETF |  |  |
| iShares® Core U.S. Aggregate Bond ETF |  |  |
| iShares® iBoxx $ High Yield Corporate Bond ETF |  |  |
| iShares® 5-10 Year Investment Grade Corporate Bond ETF |  |  |
| iShares® International Treasury Bond ETF |  |  |
| iShares® S&P 500 Growth ETF |  |  |
| iShares® S&P 500 Value ETF |  |  |
| iShares® TIPS Bond ETF |  |  |
| **<u>Invesco (AIM) Variable Insurance Funds</u>** |  |  |
| **Non-Affiliated Class 2:** |  |  |
| Invesco V.I. American Franchise Fund |  |  |
| Invesco V.I. American Value Fund |  |  |
| Invesco V.I. Comstock Fund |  |  |
| Invesco V.I. EQV International Equity Fund |  |  |
| Invesco V.I. Discovery Mid Cap Growth Fund  |  |  |
| **<u>Lincoln Financial Group</u>** |  |  |
| **Non-Affiliated Class 1:** |  |  |
| LVIP JPMorgan Mid Cap Value Fund |  |  |
| **<u>Morgan Stanley Variable Insurance Funds, Inc.</u>** |  |  |
| **Non-Affiliated Class 1:** |  |  |
| Morgan Stanley VIF Emerging Markets Debt Portfolio |  |  |
| **Non-Affiliated Class 2:** |  |  |
| Morgan Stanley VIF Emerging Markets Debt Portfolio |  |  |
| Morgan Stanley VIF Emerging Markets Equity Portfolio |  |  |

---

------

**Appendix A (continued)**

---

| | | |
|:---|:---|:---|
| **Subaccounts** | **Statement of operations** | **Statements of changes in net assets** |
| **<u>Pimco Variable Insurance Trust</u>** | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| **Advisor Class:** | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT All Asset Portfolio | For the year ended December 31, 2025 | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT International Bond Portfolio (US Dollar Hedged) |  |  |
| PIMCO VIT CommodityRealReturn® Strategy Portfolio |  |  |
| PIMCO VIT Long-Term U.S. Government Portfolio |  |  |
| PIMCO VIT Low Duration Portfolio |  |  |
| PIMCO VIT Real Return Portfolio |  |  |
| PIMCO VIT Total Return Portfolio |  |  |
| **<u>Northern Lights Variable Trust</u>** |  |  |
| **Non-Affiliated Class 3:** |  |  |
| TOPS® Managed Risk Moderate Growth ETF Portfolio |  |  |
| **<u>Touchstone Variable Series Trust</u>** |  |  |
| **Affiliated Service Class:** |  |  |
| Touchstone VST Balanced Fund |  |  |
| Touchstone VST Bond Fund |  |  |
| Touchstone VST Common Stock Fund |  |  |
| **<u>The Vanguard Index Funds</u>** |  |  |
| **ETF Shares:** |  |  |
| Vanguard® Developed Markets Index Fund, ETF Shares |  |  |
| Vanguard® Dividend Appreciation Index Fund, ETF Shares |  |  |
| Vanguard® Emerging Markets Stock Index Fund, ETF Shares |  |  |
| Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares |  |  |
| Vanguard® Large-Cap Index Fund, ETF Shares |  |  |
| Vanguard® Mega Cap Index Fund, ETF Shares |  |  |
| Vanguard® Real Estate Index Fund, ETF Shares |  |  |
| Vanguard® Short-Term Bond Index Fund, ETF Shares |  |  |
| Vanguard® Total Bond Market Index Fund, ETF Shares |  |  |
| **<u>Rydex Variable Trust (Guggenheim Variable Insurance Funds)</u>** | N/A | For the period January 1, 2024 through August 16, 2024 |
| **Investor Class:** | N/A | For the period January 1, 2024 through August 16, 2024 |
| Guggenheim VT Long Short Equity Fund | N/A | For the period January 1, 2024 through August 16, 2024 |
| **<u>Morgan Stanley Variable Insurance Funds, Inc.</u>** | N/A | For the period January 1, 2024 through December 6, 2024 |
| **Non-Affiliated Class 1:** | N/A | For the period January 1, 2024 through December 6, 2024 |
| Morgan Stanley VIF U.S. Real Estate Portfolio | N/A | For the period January 1, 2024 through December 6, 2024 |
| **Non-Affiliated Class 2:** | N/A | For the period January 1, 2024 through December 6, 2024 |
| Morgan Stanley VIF U.S. Real Estate Portfolio Class II | N/A | For the period January 1, 2024 through December 6, 2024 |

---

------

Separate Account I

of

Integrity Life Insurance Company

Statement of Assets and Liabilities

December 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Investments at fair value** | **Receivable from (payable to) the general account of Integrity** | **Net Assets** | **Unit Value Range<br>(Lowest to Highest)** | **Unit Value Range<br>(Lowest to Highest)** | **Unit Value Range<br>(Lowest to Highest)** | **Units Outstanding** |
| **Affiliated:** | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Balanced Fund | $17002173 | $(4) | $17002169 | $12.66 | to | $13.63 | 1291932 |
| &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Bond Fund | 5771879 | (1) | 5771878 | 9.90 | to | 10.62 | 570198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Common Stock Fund | 25828743 | 3 | 25828746 | 22.74 | to | 24.39 | 1113559 |
| **Non-Affiliated Initial Class:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 1523084 | (2) | 1523082 | 36.81 | to | 59.82 | 31809 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 1237456 | (3) | 1237453 | 16.73 | to | 63.66 | 25192 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 8593087 | 1 | 8593088 | 53.55 | to | 185.47 | 67659 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 9457443 | 1 | 9457444 |  |  | 430.21 | 21983 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 273328 |  | 273328 |  |  | 36.83 | 7422 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 2339819 | (1) | 2339818 |  |  | 85.54 | 27354 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 18802661 | (1) | 18802660 | 120.73 | to | 245.47 | 100751 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | 6445255 | 1 | 6445256 | 49.35 | to | 174.49 | 74794 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 1259383 | 2 | 1259385 | 12.70 | to | 44.23 | 51548 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Government Money Market | 9764810 | (4) | 9764806 | 9.42 | to | 11.46 | 930668 |
| **Non-Affiliated Service Class:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 445948 |  | 445948 |  |  | 42.60 | 10469 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 653037 |  | 653037 | 67.38 | to | 70.99 | 9554 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 10037 |  | 10037 |  |  | 20.08 | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 1146006 | (1) | 1146005 |  |  | 87.56 | 13088 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 191160 | (1) | 191159 |  |  | 42.09 | 4542 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | 2212355 | 2 | 2212357 | 121.03 | to | 125.41 | 18244 |
| **Non-Affiliated Service Class 2:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 1413237 | (5) | 1413232 | 20.85 | to | 31.30 | 55808 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 8798957 | (3) | 8798954 | 32.74 | to | 50.83 | 224460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Bond Index Portfolio | 9806216 | 1 | 9806217 | 9.51 | to | 9.86 | 1008363 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 36806460 | (2) | 36806458 | 51.66 | to | 96.92 | 597375 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Disciplined Small Cap Portfolio | 2783521 |  | 2783521 | 29.48 | to | 41.07 | 87543 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 4313656 | 1 | 4313657 | 26.96 | to | 48.11 | 130464 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Extended Market Index Portfolio | 29953 | (1) | 29952 | 16.21 | to | 16.81 | 1843 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2010 Portfolio | 128433 | (2) | 128431 | 17.47 | to | 21.39 | 6980 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2015 Portfolio | 499074 | (1) | 499073 | 18.87 | to | 23.10 | 25463 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2020 Portfolio | 3059057 |  | 3059057 | 19.94 | to | 24.41 | 148613 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2025 Portfolio | 4005873 | 5 | 4005878 | 21.96 | to | 26.88 | 174239 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2030 Portfolio | 864490 | (2) | 864488 | 23.01 | to | 28.51 | 36460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 21515959 |  | 21515959 | 60.90 | to | 92.49 | 309222 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 3755947 |  | 3755947 | 17.22 | to | 27.27 | 157325 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | 47787026 | (4) | 47787022 | 45.32 | to | 66.55 | 997787 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP International Index Portfolio | 2843591 | (1) | 2843590 | 15.52 | to | 16.09 | 179271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 21521690 | (2) | 21521688 | 12.22 | to | 19.64 | 1509568 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | 7164407 | (7) | 7164400 | 32.93 | to | 79.71 | 157808 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 2237066 |  | 2237066 | 16.06 | to | 32.35 | 106091 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Target Volatility Portfolio | 4828713 |  | 4828713 | 17.23 | to | 18.54 | 277154 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Total Market Index Portfolio | 4147709 | (2) | 4147707 | 21.54 | to | 22.33 | 188349 |
| **Non-Affiliated Class 1:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Select Mid Cap Value Fund | 2274975 | (4) | 2274971 | 30.84 | to | 34.07 | 70970 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | 1020592 | 2 | 1020594 | 52.54 | to | 54.42 | 19417 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 2666482 | 1 | 2666483 | 39.00 | to | 40.39 | 68261 |
| &nbsp;&nbsp;&nbsp;&nbsp;LVIP JPMorgan Mid Cap Value Fund | 340389 | (3) | 340386 | 38.32 | to | 58.49 | 6418 |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 222726 | 2 | 222728 | 20.01 | to | 33.64 | 7031 |
| **Non-Affiliated Class 2:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Managed Risk Asset Allocation Fund | 7117193 |  | 7117193 | 17.21 | to | 18.52 | 408139 |
| &nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Small Cap Value Fund | 2408023 |  | 2408023 | 36.64 | to | 52.79 | 49199 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | 7140605 | 1 | 7140606 | 29.32 | to | 53.85 | 179528 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 11399615 |  | 11399615 | 20.05 | to | 39.93 | 469180 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Large Cap Growth VIP Fund | 5318802 | (3) | 5318799 | 38.91 | to | 66.19 | 115713 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Mutual Shares VIP Fund | 17519641 | (5) | 17519636 | 19.13 | to | 40.00 | 757535 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Value VIP Fund | 2141679 | 2 | 2141681 | 26.77 | to | 34.98 | 77002 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Franchise Fund | 2942484 | 5 | 2942489 | 53.52 | to | 87.24 | 49838 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Value Fund | 12538575 | (3) | 12538572 | 37.92 | to | 44.28 | 309521 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Comstock Fund | 9882726 | (4) | 9882722 | 31.34 | to | 63.48 | 271775 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. EQV International Equity Fund | 3618159 | 1 | 3618160 | 15.95 | to | 17.44 | 217109 |

---

(a) Name Change. See Note 1, if applicable. 6 <br> (b) New Underlying Fund. See Note 1, if applicable.

------

Separate Account I

of

Integrity Life Insurance Company

Statement of Assets and Liabilities (continued)

December 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Investments at fair value** | **Receivable from (payable to) the general account of Integrity** | **Net Assets** | **Unit Value Range<br>(Lowest to Highest)** | **Unit Value Range<br>(Lowest to Highest)** | **Unit Value Range<br>(Lowest to Highest)** | **Units Outstanding** |
| **Non-Affiliated Class 2 (continued):** | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Discovery Mid Cap Growth Fund | $2816059 | $6 | $2816065 | $16.38 | to | $16.90 | 169741 |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Foreign VIP Fund | 7779315 | (5) | 7779310 | 13.24 | to | 30.95 | 484771 |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond VIP Fund | 1398822 | (3) | 1398819 | 7.69 | to | 8.31 | 179471 |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Growth VIP Fund | 1938051 | 3 | 1938054 | 15.45 | to | 33.86 | 84045 |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 647198 | 2 | 647200 | 14.56 | to | 29.49 | 35100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Equity Portfolio | 1659723 | 2 | 1659725 | 11.88 | to | 53.20 | 87885 |
| **Non-Affiliated Class 3:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Capital Appreciation V.I. Fund | 10954871 | (1) | 10954870 | 49.01 | to | 53.59 | 214576 |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Global Allocation V.I. Fund | 1685745 | 2 | 1685747 | 18.33 | to | 20.04 | 88325 |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock High Yield V.I. Fund | 942226 | 1 | 942227 | 14.73 | to | 15.55 | 62040 |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Total Return V.I. Fund | 1526347 | 1 | 1526348 | 10.04 | to | 10.59 | 151657 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOPS® Managed Risk Moderate Growth ETF Portfolio | 1954452 | 2 | 1954454 | 14.32 | to | 15.47 | 133118 |
| **Non-Affiliated Class 4:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. The Bond Fund of America | 3105336 | (2) | 3105334 | 10.23 | to | 10.79 | 297294 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Capital Income Builder Fund | 1503891 |  | 1503891 | 16.14 | to | 17.13 | 91702 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Global Growth Fund | 9256871 | (2) | 9256869 | 28.90 | to | 31.10 | 316447 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth Fund | 19230437 | 2 | 19230439 | 50.48 | to | 54.31 | 372177 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth-Income Fund | 16726538 | (1) | 16726537 | 34.49 | to | 37.11 | 478192 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. New World Fund | 2832153 | 1 | 2832154 | 17.82 | to | 19.18 | 152443 |
| **Non-Affiliated Class A:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | 353070 |  | 353070 | 46.12 | to | 50.20 | 7291 |
| **Non-Affiliated Class B:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | 2244284 | 4 | 2244288 | 26.37 | to | 47.17 | 71444 |
| **Advisor Class:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT All Asset Portfolio | 344649 | (1) | 344648 | 17.01 | to | 19.45 | 19091 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT International Bond Portfolio (US Dollar Hedged) | 12799 | 1 | 12800 | 11.02 | to | 11.63 | 1145 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT CommodityRealReturn® Strategy Portfolio | 1101198 | (1) | 1101197 | 5.87 | to | 8.47 | 178303 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Long-Term U.S. Government Portfolio | 168133 | 1 | 168134 | 8.42 | to | 9.10 | 19447 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Low Duration Portfolio | 5331421 | (2) | 5331419 | 10.61 | to | 12.41 | 455955 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Real Return Portfolio | 514491 | 1 | 514492 | 12.06 | to | 14.39 | 38843 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Total Return Portfolio | 37028519 | (2) | 37028517 | 11.95 | to | 15.10 | 2575598 |
| **Investor Class:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Global Managed Futures Strategy Fund | 148598 | 2 | 148600 | 6.89 | to | 9.01 | 20880 |
| &nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Multi-Hedge Strategies Fund | 165134 | 4 | 165138 | 8.58 | to | 11.48 | 18050 |
| **ETF Shares:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P 500 ETF | 74948150 | (1) | 74948149 | 37.59 | to | 138.48 | 782911 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Mid-Cap ETF | 21523539 | (4) | 21523535 | 28.14 | to | 88.41 | 327962 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Small-Cap ETF | 11566236 | 1 | 11566237 | 24.67 | to | 83.90 | 193140 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core U.S. Aggregate Bond ETF | 1178145 | 3 | 1178148 | 21.68 | to | 27.21 | 52230 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® iBoxx $ High Yield Corporate Bond ETF | 748695 |  | 748695 | 25.63 | to | 39.84 | 21719 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® 5-10 Year Investment Grade Corporate Bond ETF | 1035540 |  | 1035540 | 23.13 | to | 31.71 | 40406 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® International Treasury Bond ETF | 9990904 |  | 9990904 | 15.78 | to | 18.23 | 607919 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Growth ETF | 9600992 |  | 9600992 | 40.23 | to | 173.11 | 81775 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Value ETF | 3015417 | 2 | 3015419 | 33.23 | to | 97.47 | 38201 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® TIPS Bond ETF | 156543 |  | 156543 | 22.24 | to | 28.55 | 6888 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Developed Markets Index Fund, ETF Shares | 11030948 | 2 | 11030950 | 29.91 | to | 58.70 | 226119 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Dividend Appreciation Index Fund, ETF Shares | 2089719 | 1 | 2089720 | 33.34 | to | 108.14 | 31216 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Emerging Markets Stock Index Fund, ETF Shares | 361602 | 1 | 361603 | 24.92 | to | 38.58 | 11205 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares | 191278 | 1 | 191279 | 22.94 | to | 34.91 | 6328 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Large-Cap Index Fund, ETF Shares | 1975695 |  | 1975695 | 37.07 | to | 136.83 | 19091 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Mega Cap Index Fund, ETF Shares | 267188 |  | 267188 | 38.96 | to | 147.28 | 3148 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Real Estate Index Fund, ETF Shares | 687062 | (1) | 687061 | 22.27 | to | 55.70 | 15945 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Short-Term Bond Index Fund, ETF Shares | 211501 | 2 | 211503 | 21.81 | to | 25.09 | 9539 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Total Bond Market Index Fund, ETF Shares | 72865047 | (1) | 72865046 | 21.66 | to | 27.30 | 3164536 |

---

(a) Name Change. See Note 1, if applicable. 7 <br> (b) New Underlying Fund. See Note 1, if applicable

------

Separate Account I

of

Integrity Life Insurance Company

Statement of Operations

Year Ended December 31, 2025

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Investment**<br> **Income** |<br>**Expenses** | | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | |
| Subaccount | Reinvested <br>dividends | Mortality and <br>expense risk and <br>administrative <br>charges | Net investment <br>income (loss) | Realized gain (loss) <br>on sales of <br>investments | Realized gain <br>distributions | Change in net unrealized <br>appreciation<br>(depreciation)<br>during the period | Net realized and <br>unrealized gain (loss) <br>on investments | Net increase <br>(decrease) in net <br>assets resulting from <br>operations |
| **Affiliated:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Balanced Fund | $315743 | $231138 | $84605 | $(165332) | $447728 | $1718785 | $2001181 | $2085786 |
| &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Bond Fund | 216676 | 87775 | 128901 | (399632) |  | 644934 | 245302 | 374203 |
| &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Common Stock Fund | 85399 | 364097 | (278698) | 2174700 | 3592606 | (1486994) | 4280312 | 4001614 |
| **Non-Affiliated Initial Class:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 25287 | 20318 | 4969 | 155717 | 78501 | (50501) | 183717 | 188686 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 19497 | 16736 | 2761 | 65125 | 108757 | 36423 | 210305 | 213066 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 146413 | 112523 | 33890 | 246469 | 455115 | 603868 | 1305452 | 1339342 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 26236 | 124977 | (98741) | 645380 | 1171620 | (583649) | 1233351 | 1134610 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 17666 | 3821 | 13845 | (6536) |  | 15756 | 9220 | 23065 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 56382 | 32104 | 24278 | 6175 | 112296 | 154934 | 273405 | 297683 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 24619 | 239325 | (214706) | 700720 | 2824810 | (81770) | 3443760 | 3229054 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | 70610 | 83665 | (13055) | 413958 | 32334 | 505886 | 952178 | 939123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 46333 | 18447 | 27886 | (42340) |  | 92380 | 50040 | 77926 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Government Money Market | 427867 | 150026 | 277841 |  |  |  |  | 277841 |
| **Non-Affiliated Service Class:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 7216 | 5991 | 1225 | 1756 | 23505 | 39076 | 64337 | 65562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 1278 | 9475 | (8197) | 53931 | 82510 | (40496) | 95945 | 87748 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 653 | 268 | 385 | 951 |  | 194 | 1145 | 1530 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) |  | 16 | (16) | 65 | 144 | (169) | 40 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 543 | 15436 | (14893) | 35032 | 172522 | (1456) | 206098 | 191205 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 2990 | 2622 | 368 | 3574 | 8848 | 10360 | 22782 | 23150 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | 7649 | 30021 | (22372) | 12694 | 250737 | (24797) | 238634 | 216262 |
| **Non-Affiliated Service Class 2:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 32636 | 18927 | 13709 | 19893 | 67613 | 67376 | 154882 | 168591 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 134309 | 116400 | 17909 | 207661 | 436799 | 387327 | 1031787 | 1049696 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Bond Index Portfolio | 314872 | 121908 | 192964 | (139512) |  | 479325 | 339813 | 532777 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio |  | 492589 | (492589) | 2565710 | 5842898 | (1626739) | 6781869 | 6289280 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Disciplined Small Cap Portfolio | 19798 | 34721 | (14923) | 74948 | 199976 | 157917 | 432841 | 417918 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 68047 | 56082 | 11965 | 81112 | 239822 | 316824 | 637758 | 649723 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Extended Market Index Portfolio | 277 | 416 | (139) | 85 |  | 2843 | 2928 | 2789 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2010 Portfolio | 4053 | 2584 | 1469 | (1735) | 2476 | 12591 | 13332 | 14801 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2015 Portfolio | 13666 | 7386 | 6280 | (14813) | 20358 | 36770 | 42315 | 48595 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2020 Portfolio | 76147 | 45055 | 31092 | 4901 | 173645 | 120551 | 299097 | 330189 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2025 Portfolio | 94050 | 65260 | 28790 | 269571 | 174996 | 105609 | 550176 | 578966 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2030 Portfolio | 18483 | 14060 | 4423 | 80482 | 47866 | (8326) | 120022 | 124445 |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 8 |
| (b) New Underlying Fund. See Note 1, if applicable. | 8 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Statement of Operations (continued)

Year Ended December 31, 2025

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Investment**<br> **Income** |<br>**Expenses** | | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | |
| Subaccount | Reinvested <br>dividends | Mortality and <br>expense risk and <br>administrative <br>charges | Net investment <br>income (loss) | Realized gain (loss) <br>on sales of <br>investments | Realized gain <br>distributions | Change in net unrealized <br>appreciation<br>(depreciation)<br>during the period | Net realized and <br>unrealized gain (loss) <br>on investments | Net increase <br>(decrease) in net <br>assets resulting from <br>operations |
| **Non-Affiliated Service Class 2 (continued):** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | $10274 | $287355 | $(277081) | $137274 | $2772335 | $(170426) | $2739183 | $2462102 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 246367 | 56905 | 189462 | (13196) |  | 134744 | 121548 | 311010 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | 430129 | 658108 | (227979) | 5463256 | 244120 | 1506544 | 7213920 | 6985941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP International Index Portfolio | 71110 | 33174 | 37936 | 53385 |  | 636842 | 690227 | 728163 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 748858 | 313203 | 435655 | (543769) |  | 1317871 | 774102 | 1209757 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | 17944 | 97569 | (79625) | 131549 | 853858 | (209075) | 776332 | 696707 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 30530 | 30317 | 213 | 120206 | 198656 | 36375 | 355237 | 355450 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Target Volatility Portfolio | 1018249 | 70781 | 947468 | 39789 | 21184 | (597888) | (536915) | 410553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Total Market Index Portfolio | 37304 | 49240 | (11936) | 163620 |  | 444176 | 607796 | 595860 |
| **Non-Affiliated Class 1:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Select Mid Cap Value Fund |  | 29688 | (29688) | 77957 |  | 195091 | 273048 | 243360 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | 23099 | 13808 | 9291 | (90162) | 89016 | 133817 | 132671 | 141962 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 141045 | 36679 | 104366 | (23418) | 28226 | 182305 | 187113 | 291479 |
| &nbsp;&nbsp;&nbsp;&nbsp;LVIP JPMorgan Mid Cap Value Fund | 3772 | 4725 | (953) | (4254) | 36266 | (22640) | 9372 | 8419 |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 31775 | 2932 | 28843 | (9243) |  | 8139 | (1104) | 27739 |
| **Non-Affiliated Class 2:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Managed Risk Asset Allocation Fund | 187386 | 108162 | 79224 | (23700) | 457246 | 174253 | 607799 | 687023 |
| &nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Small Cap Value Fund | 22238 | 33251 | (11013) | (41395) | 382934 | (69843) | 271696 | 260683 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | 161017 | 102511 | 58506 | (306219) | 693239 | 607377 | 994397 | 1052903 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 807635 | 204010 | 603625 | (91453) | 169760 | 871971 | 950278 | 1553903 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Large Cap Growth VIP Fund |  | 74751 | (74751) | (347750) | 1074753 | (334457) | 392546 | 317795 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Mutual Shares VIP Fund | 359368 | 242989 | 116379 | (86430) | 1770617 | (83674) | 1600513 | 1716892 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Value VIP Fund | 23909 | 31634 | (7725) | 3118 | 186486 | (50651) | 138953 | 131228 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Franchise Fund |  | 40042 | (40042) | (123672) | 288647 | 82797 | 247772 | 207730 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Value Fund | 25887 | 159788 | (133901) | 128178 | 1859999 | 342552 | 2330729 | 2196828 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Comstock Fund | 138907 | 136630 | 2277 | 738513 | 1029392 | (316428) | 1451477 | 1453754 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. EQV International Equity Fund | 42912 | 48846 | (5934) | (12834) | 234175 | 295743 | 517084 | 511150 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Discovery Mid Cap Growth Fund |  | 35630 | (35630) | (175038) | 273297 | 45871 | 144130 | 108500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Foreign VIP Fund | 182220 | 105843 | 76377 | 267993 | 508799 | 1048189 | 1824981 | 1901358 |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond VIP Fund |  | 21593 | (21593) | (85306) |  | 295199 | 209893 | 188300 |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Growth VIP Fund | 17618 | 27683 | (10065) | 4808 | 151257 | 252298 | 408363 | 398298 |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 93481 | 9119 | 84362 | (42147) |  | 39326 | (2821) | 81541 |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Equity Portfolio | 5395 | 22375 | (16980) | 5123 | 51124 | 376214 | 432461 | 415481 |
| **Non-Affiliated Class 3:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Capital Appreciation V.I. Fund |  | 152282 | (152282) | (811982) | 1307764 | 841327 | 1337109 | 1184827 |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Global Allocation V.I. Fund | 66528 | 22755 | 43773 | (24159) | 163691 | 100143 | 239675 | 283448 |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock High Yield V.I. Fund | 61463 | 11267 | 50196 | (3312) | 2045 | 22896 | 21629 | 71825 |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Total Return V.I. Fund | 65078 | 23470 | 41608 | (69396) | 1584 | 121172 | 53360 | 94968 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOPS® Managed Risk Moderate Growth ETF Portfolio | 51563 | 27956 | 23607 | 39121 |  | 97817 | 136938 | 160545 |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 9 |
| (b) New Underlying Fund. See Note 1, if applicable. | 9 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Statement of Operations (continued)

Year Ended December 31, 2025

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Investment**<br> **Income** |<br>**Expenses** | | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | |
| Subaccount | Reinvested <br>dividends | Mortality and <br>expense risk and <br>administrative <br>charges | Net investment <br>income (loss) | Realized gain (loss) <br>on sales of <br>investments | Realized gain <br>distributions | Change in net unrealized <br>appreciation<br>(depreciation)<br>during the period | Net realized and <br>unrealized gain (loss) <br>on investments | Net increase <br>(decrease) in net <br>assets resulting from <br>operations |
| **Non-Affiliated Class 4:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. The Bond Fund of America | $138430 | $44844 | $93586 | $(125871) | $— | $219904 | $94033 | $187619 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Capital Income Builder Fund | 38959 | 20167 | 18792 | 35893 |  | 187528 | 223421 | 242213 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Global Growth Fund | 106787 | 138795 | (32008) | 412771 | 1155216 | 93428 | 1661415 | 1629407 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth Fund | 22397 | 250587 | (228190) | 535922 | 1401951 | 1224578 | 3162451 | 2934261 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth-Income Fund | 116665 | 244905 | (128240) | 663192 | 2800742 | (931056) | 2532878 | 2404638 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. New World Fund | 24581 | 34951 | (10370) | 89498 | 116446 | 449844 | 655788 | 645418 |
| **Non-Affiliated Class A:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | 4671 | 4583 | 88 | (395) | 19942 | 11792 | 31339 | 31427 |
| **Non-Affiliated Class B:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | 21561 | 27823 | (6262) | (59460) | 119069 | 170824 | 230433 | 224171 |
| **Advisor Class:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT All Asset Portfolio | 18067 | 5880 | 12187 | (17925) |  | 53238 | 35313 | 47500 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT International Bond Portfolio (US Dollar Hedged) | 517 | 214 | 303 | (524) |  | 582 | 58 | 361 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT CommodityRealReturn® Strategy Portfolio | 31616 | 17281 | 14335 | (117646) |  | 292698 | 175052 | 189387 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Long-Term U.S. Government Portfolio | 5455 | 2406 | 3049 | (42809) |  | 47401 | 4592 | 7641 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Low Duration Portfolio | 212807 | 73694 | 139113 | (22182) |  | 102286 | 80104 | 219217 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Real Return Portfolio | 16357 | 7372 | 8985 | (6159) |  | 27299 | 21140 | 30125 |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Total Return Portfolio | 1517272 | 513942 | 1003330 | (1188919) |  | 2878807 | 1689888 | 2693218 |
| **Investor Class:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Global Managed Futures Strategy Fund | 3012 | 2471 | 541 | (899) |  | 2667 | 1768 | 2309 |
| &nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Multi-Hedge Strategies Fund | 3808 | 2384 | 1424 | (392) |  | (1363) | (1755) | (331) |
| **ETF Shares:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P 500 ETF | 977235 | 2020982 | (1043747) | 12991329 |  | (1040115) | 11951214 | 10907467 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Mid-Cap ETF | 307970 | 571224 | (263254) | 1828244 |  | (483782) | 1344462 | 1081208 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Small-Cap ETF | 178754 | 307862 | (129108) | 908104 |  | (328679) | 579425 | 450317 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core U.S. Aggregate Bond ETF | 53236 | 38774 | 14462 | (53053) |  | 94582 | 41529 | 55991 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® iBoxx $ High Yield Corporate Bond ETF | 43427 | 17559 | 25868 | 18703 |  | (10) | 18693 | 44561 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® 5-10 Year Investment Grade Corporate Bond ETF | 53089 | 32614 | 20475 | (38546) |  | 91147 | 52601 | 73076 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® International Treasury Bond ETF | 138595 | 269003 | (130408) | (391469) |  | 1264130 | 872661 | 742253 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Growth ETF | 41443 | 233859 | (192416) | 1650576 |  | 201026 | 1851602 | 1659186 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Value ETF | 52139 | 75457 | (23318) | 339378 |  | (18587) | 320791 | 297473 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® TIPS Bond ETF | 5241 | 4498 | 743 | 17 |  | 4679 | 4696 | 5439 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Developed Markets Index Fund, ETF Shares | 374278 | 287923 | 86355 | 1223134 |  | 1742175 | 2965309 | 3051664 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Dividend Appreciation Index Fund, ETF Shares | 37617 | 56834 | (19217) | 238048 |  | 20568 | 258616 | 239399 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Emerging Markets Stock Index Fund, ETF Shares | 10435 | 10129 | 306 | 34973 |  | 43783 | 78756 | 79062 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares | 8711 | 4486 | 4225 | 761 |  | 7042 | 7803 | 12028 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Large-Cap Index Fund, ETF Shares | 23566 | 47446 | (23880) | 242693 |  | 73725 | 316418 | 292538 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Mega Cap Index Fund, ETF Shares | 3132 | 7678 | (4546) | 37191 |  | 15414 | 52605 | 48059 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Real Estate Index Fund, ETF Shares | 31664 | 20721 | 10943 | 45132 |  | (49343) | (4211) | 6732 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Short-Term Bond Index Fund, ETF Shares | 8723 | 6283 | 2440 | 5111 |  | (624) | 4487 | 6927 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Total Bond Market Index Fund, ETF Shares | 2910148 | 1969335 | 940813 | (137154) |  | 2401629 | 2264475 | 3205288 |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 10 |
| (b) New Underlying Fund. See Note 1, if applicable. | 10 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Statements of Changes in Net Assets

For the Year Ended December 31, 2025

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | | | | Unit Transactions | Unit Transactions | Unit Transactions |
| Subaccount | Net investment <br>income (loss) | Realized gain <br>(loss) | Change in net <br>unrealized <br>appreciation <br>(depreciation) during <br>the period | Net increase <br>(decrease) in net <br>assets resulting from <br>operations | Contributions from <br>contract holders | Contract <br>terminations and <br>benefits | Net transfers among <br>investment options | Contract <br>maintenance <br>charges | Net increase (decrease) <br>in net assets from <br>contract related <br>transactions | Increase <br>(decrease) in net <br>assets | Net assets, <br>beginning of period | Net assets, end of <br>period | Units purchased | Units redeemed | Increase <br>(decrease) in <br>units |
| **Affiliated:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Balanced Fund | $84605 | $282396 | $1718785 | $2085786 | $358474 | $(2987630) | $44265 | $(86739) | $(2671630) | $(585844) | $17588013 | $17002169 | 28962 | (242287) | (213325) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Bond Fund | 128901 | (399632) | 644934 | 374203 | 56727 | (1923802) | 367929 | (68683) | (1567829) | (1193626) | 6965504 | 5771878 | 69116 | (229075) | (159959) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Common Stock Fund | (278698) | 5767306 | (1486994) | 4001614 | 871959 | (5942112) | (253548) | (47010) | (5370711) | (1369097) | 27197843 | 25828746 | 9941 | (256623) | (246682) |
| **Non-Affiliated Initial Class:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 4969 | 234218 | (50501) | 188686 |  | (421809) | (27104) | (336) | (449249) | (260563) | 1783645 | 1523082 |  | (9564) | (9564) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 2761 | 173882 | 36423 | 213066 |  | (188387) | (22) | (859) | (189268) | 23798 | 1213655 | 1237453 | 1 | (3786) | (3785) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 33890 | 701584 | 603868 | 1339342 | 64110 | (990158) | (8964) | (1108) | (936120) | 403222 | 8189866 | 8593088 | 6 | (7164) | (7158) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | (98741) | 1817000 | (583649) | 1134610 |  | (1376228) | 381 | (1133) | (1376980) | (242370) | 9699814 | 9457444 |  | (3573) | (3573) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 13845 | (6536) | 15756 | 23065 | 43343 | (97231) | 333 | (79) | (53634) | (30569) | 303897 | 273328 | 68 | (1630) | (1562) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 24278 | 118471 | 154934 | 297683 | 6893 | (365401) | (1971) | (781) | (361260) | (63577) | 2403395 | 2339818 | 7 | (4524) | (4517) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | (214706) | 3525530 | (81770) | 3229054 | 96177 | (1524267) | (42607) | (2518) | (1473215) | 1755839 | 17046821 | 18802660 | 11 | (7874) | (7863) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | (13055) | 446292 | 505886 | 939123 |  | (607805) | (1239) | (913) | (609957) | 329166 | 6116090 | 6445256 |  | (7771) | (7771) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 27886 | (42340) | 92380 | 77926 |  | (285063) | (24) | (794) | (285881) | (207955) | 1467340 | 1259385 | 1 | (12006) | (12005) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Government Money Market | 277841 |  |  | 277841 | 353193 | (3357366) | 1729455 | (22841) | (1297559) | (1019718) | 10784524 | 9764806 | 212866 | (335447) | (122581) |
| **Non-Affiliated Service Class:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 1225 | 25261 | 39076 | 65562 | 112 | (1278) | (1) | (28) | (1195) | 64367 | 381581 | 445948 | 3 | (32) | (29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | (8197) | 136441 | (40496) | 87748 |  | (135097) | 1 | (116) | (135212) | (47464) | 700501 | 653037 |  | (2066) | (2066) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 385 | 951 | 194 | 1530 |  | (14579) | 1 | (10) | (14588) | (13058) | 23095 | 10037 |  | (751) | (751) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | (16) | 209 | (169) | 24 |  | (3092) | 36 | (9) | (3065) | (3041) | 3041 |  |  | (131) | (131) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | (14893) | 207554 | (1456) | 191205 | 120 | (51375) | (28635) | (129) | (80019) | 111186 | 1034819 | 1146005 | 2 | (1051) | (1049) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 368 | 12422 | 10360 | 23150 |  | (5775) |  | (39) | (5814) | 17336 | 173823 | 191159 | 1 | (145) | (144) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | (22372) | 263431 | (24797) | 216262 |  | (353628) | (3876) | (408) | (357912) | (141650) | 2354007 | 2212357 |  | (3078) | (3078) |
| **Non-Affiliated Service Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 13709 | 87506 | 67376 | 168591 | 3518 | (169247) | (17710) | (2465) | (185904) | (17313) | 1430545 | 1413232 | 752 | (8743) | (7991) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 17909 | 644460 | 387327 | 1049696 | 295952 | (866714) | 323909 | (11759) | (258612) | 791084 | 8007870 | 8798954 | 22227 | (25993) | (3766) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Bond Index Portfolio | 192964 | (139512) | 479325 | 532777 | 168943 | (1011967) | 275104 | (111517) | (679437) | (146660) | 9952877 | 9806217 | 74636 | (145410) | (70774) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | (492589) | 8408608 | (1626739) | 6289280 | 1623001 | (4848504) | 237358 | (96725) | (3084870) | 3204410 | 33602048 | 36806458 | 42908 | (93434) | (50526) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Disciplined Small Cap Portfolio | (14923) | 274924 | 157917 | 417918 | 73379 | (255170) | 1225 | (21520) | (202086) | 215832 | 2567689 | 2783521 | 10968 | (16964) | (5996) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 11965 | 320934 | 316824 | 649723 | 14197 | (308674) | 41389 | (12787) | (265875) | 383848 | 3929809 | 4313657 | 3324 | (11423) | (8099) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Extended Market Index Portfolio | (139) | 85 | 2843 | 2789 | 900 |  | (2) | (15) | 883 | 3672 | 26280 | 29952 | 60 | (2) | 58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2010 Portfolio | 1469 | 741 | 12591 | 14801 |  | (80561) | 303 | (360) | (80618) | (65817) | 194248 | 128431 | 130 | (4783) | (4653) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2015 Portfolio | 6280 | 5545 | 36770 | 48595 | 8911 | (69207) | 1959 | (3873) | (62210) | (13615) | 512688 | 499073 | 508 | (3895) | (3387) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2020 Portfolio | 31092 | 178546 | 120551 | 330189 | 5690 | (239291) | (162470) | (28118) | (424189) | (94000) | 3153057 | 3059057 | 359 | (22386) | (22027) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2025 Portfolio | 28790 | 444567 | 105609 | 578966 | 11608 | (1313089) | (417166) | (41679) | (1760326) | (1181360) | 5187238 | 4005878 | 5712 | (84716) | (79004) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2030 Portfolio | 4423 | 128348 | (8326) | 124445 | 20797 | (473221) | 150983 | (196) | (301637) | (177192) | 1041680 | 864488 | 1674 | (14992) | (13318) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | (277081) | 2909609 | (170426) | 2462102 | 1209108 | (2634174) | 46233 | (79128) | (1457961) | 1004141 | 20511818 | 21515959 | 20353 | (43389) | (23036) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 189462 | (13196) | 134744 | 311010 | 31763 | (591710) | (110261) | (4232) | (674440) | (363430) | 4119377 | 3755947 | 6046 | (38511) | (32465) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | (227979) | 5707376 | 1506544 | 6985941 | 3825495 | (9051315) | 620507 | (123336) | (4728649) | 2257292 | 45529730 | 47787022 | 90500 | (199495) | (108995) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP International Index Portfolio | 37936 | 53385 | 636842 | 728163 | 44024 | (307481) | (110252) | (23497) | (397206) | 330957 | 2512633 | 2843590 | 11966 | (40484) | (28518) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 435655 | (543769) | 1317871 | 1209757 | 394140 | (3714856) | 278028 | (182089) | (3224777) | (2015020) | 23536708 | 21521688 | 68765 | (302002) | (233237) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | (79625) | 985407 | (209075) | 696707 | 334572 | (1004025) | 195955 | (12866) | (486364) | 210343 | 6954057 | 7164400 | 15002 | (26793) | (11791) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 213 | 318862 | 36375 | 355450 | 203087 | (389524) | 169031 | (4522) | (21928) | 333522 | 1903544 | 2237066 | 19804 | (23032) | (3228) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Target Volatility Portfolio | 947468 | 60973 | (597888) | 410553 | 280489 | (350900) | 31081 | (60077) | (99407) | 311146 | 4517567 | 4828713 | 16915 | (23116) | (6201) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Total Market Index Portfolio | (11936) | 163620 | 444176 | 595860 | 56004 | (311602) | (95840) | (40033) | (391471) | 204389 | 3943318 | 4147707 | 10483 | (28819) | (18336) |
| **Non-Affiliated Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Select Mid Cap Value Fund | (29688) | 77957 | 195091 | 243360 | 146426 | (95815) | (63265) | (4223) | (16877) | 226483 | 2048488 | 2274971 | 5754 | (6885) | (1131) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | 9291 | (1146) | 133817 | 141962 |  | (265687) | (10898) | (525) | (277110) | (135148) | 1155742 | 1020594 |  | (5961) | (5961) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 104366 | 4808 | 182305 | 291479 |  | (425727) | (5963) | (436) | (432126) | (140647) | 2807130 | 2666483 | 61 | (11836) | (11775) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LVIP JPMorgan Mid Cap Value Fund | (953) | 32012 | (22640) | 8419 |  | (38867) | (7848) | (137) | (46852) | (38433) | 378819 | 340386 | 2 | (953) | (951) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 28843 | (9243) | 8139 | 27739 |  | (13984) | 19 | (175) | (14140) | 13599 | 209129 | 222728 | 14 | (485) | (471) |
| **Non-Affiliated Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Managed Risk Asset Allocation Fund | 79224 | 433546 | 174253 | 687023 | 248276 | (970932) | (38087) | (91802) | (852545) | (165522) | 7282715 | 7117193 | 12633 | (63771) | (51138) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Small Cap Value Fund | (11013) | 341539 | (69843) | 260683 | 199196 | (531413) | (69762) | (9812) | (411791) | (151108) | 2559131 | 2408023 | 3642 | (13756) | (10114) |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 11 |
| (b) New Underlying Fund. See Note 1, if applicable. | 11 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Statements of Changes in Net Assets (continued)

For the Year Ended December 31, 2025

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | | | | Unit Transactions | Unit Transactions | Unit Transactions |
| Subaccount | Net investment <br>income (loss) | Realized gain <br>(loss) | Change in net <br>unrealized <br>appreciation <br>(depreciation) during <br>the period | Net increase <br>(decrease) in net <br>assets resulting from <br>operations | Contributions from <br>contract holders | Contract <br>terminations and <br>benefits | Net transfers among <br>investment options | Contract <br>maintenance <br>charges | Net increase (decrease) <br>in net assets from <br>contract related <br>transactions | Increase <br>(decrease) in net <br>assets | Net assets, <br>beginning of period | Net assets, end of <br>period | Units purchased | Units redeemed | Increase <br>(decrease) in <br>units |
| **Non-Affiliated Class 2 (continued):** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | $58506 | $387020 | $607377 | $1052903 | $48562 | $(1286209) | $135273 | $(19472) | $(1121846) | $(68943) | $7209549 | $7140606 | 6438 | (36620) | (30182) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 603625 | 78307 | 871971 | 1553903 | 110269 | (6112390) | 80244 | (21209) | (5943086) | (4389183) | 15788798 | 11399615 | 14836 | (258686) | (243850) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Large Cap Growth VIP Fund | (74751) | 727003 | (334457) | 317795 | 120371 | (627626) | (620) | (28714) | (536589) | (218794) | 5537593 | 5318799 | 6190 | (17706) | (11516) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Mutual Shares VIP Fund | 116379 | 1684187 | (83674) | 1716892 | 361873 | (3104382) | 153972 | (120998) | (2709535) | (992643) | 18512279 | 17519636 | 23252 | (145218) | (121966) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Value VIP Fund | (7725) | 189604 | (50651) | 131228 | 70947 | (264044) | 21121 | (3448) | (175424) | (44196) | 2185877 | 2141681 | 3592 | (9663) | (6071) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Franchise Fund | (40042) | 164975 | 82797 | 207730 | 188073 | (304252) | 97138 | (3685) | (22726) | 185004 | 2757485 | 2942489 | 6061 | (7833) | (1772) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Value Fund | (133901) | 1988177 | 342552 | 2196828 | 122742 | (1308600) | (674139) | (92952) | (1952949) | 243879 | 12294693 | 12538572 | 18423 | (71123) | (52700) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Comstock Fund | 2277 | 1767905 | (316428) | 1453754 | 181940 | (1397696) | (461769) | (66448) | (1743973) | (290219) | 10172941 | 9882722 | 5948 | (59857) | (53909) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. EQV International Equity Fund | (5934) | 221341 | 295743 | 511150 | 67371 | (593181) | (63124) | (33194) | (622128) | (110978) | 3729138 | 3618160 | 4579 | (44315) | (39736) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Discovery Mid Cap Growth Fund | (35630) | 98259 | 45871 | 108500 | 65113 | (206022) | 244930 | (21213) | 82808 | 191308 | 2624757 | 2816065 | 27579 | (20867) | 6712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Foreign VIP Fund | 76377 | 776792 | 1048189 | 1901358 | 246975 | (1354996) | (531720) | (57401) | (1697142) | 204216 | 7575094 | 7779310 | 9684 | (133764) | (124080) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond VIP Fund | (21593) | (85306) | 295199 | 188300 | 65062 | (299020) | 38112 | (578) | (196424) | (8124) | 1406943 | 1398819 | 6815 | (33305) | (26490) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Growth VIP Fund | (10065) | 156065 | 252298 | 398298 | 44483 | (431672) | (111449) | (2370) | (501008) | (102710) | 2040764 | 1938054 | 1403 | (20463) | (19060) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 84362 | (42147) | 39326 | 81541 | 100751 | (99410) | (23794) | (1334) | (23787) | 57754 | 589446 | 647200 | 4354 | (5907) | (1553) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Equity Portfolio | (16980) | 56247 | 376214 | 415481 | 28846 | (167228) | (50781) | (2633) | (191796) | 223685 | 1436040 | 1659725 | 877 | (14671) | (13794) |
| **Non-Affiliated Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Capital Appreciation V.I. Fund | (152282) | 495782 | 841327 | 1184827 | 551070 | (2588188) | 86990 | (80252) | (2030380) | (845553) | 11800423 | 10954870 | 24029 | (65189) | (41160) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Global Allocation V.I. Fund | 43773 | 139532 | 100143 | 283448 | 8972 | (219097) | (21345) | (8631) | (240101) | 43347 | 1642400 | 1685747 | 1185 | (14242) | (13057) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock High Yield V.I. Fund | 50196 | (1267) | 22896 | 71825 | 6800 | (103918) | 11918 | (7433) | (92633) | (20808) | 963035 | 942227 | 3946 | (10241) | (6295) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Total Return V.I. Fund | 41608 | (67812) | 121172 | 94968 | 39300 | (348747) | 75729 | (19472) | (253190) | (158222) | 1684570 | 1526348 | 18463 | (43567) | (25104) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOPS® Managed Risk Moderate Growth ETF Portfolio | 23607 | 39121 | 97817 | 160545 | 35602 | (268755) | 21092 | (27138) | (239199) | (78654) | 2033108 | 1954454 | 1454 | (18721) | (17267) |
| **Non-Affiliated Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. The Bond Fund of America | 93586 | (125871) | 219904 | 187619 | 110081 | (714231) | 104907 | (33377) | (532620) | (345001) | 3450335 | 3105334 | 30597 | (80965) | (50368) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Capital Income Builder Fund | 18792 | 35893 | 187528 | 242213 | 5942 | (96438) | (13009) | (6220) | (109725) | 132488 | 1371403 | 1503891 | 1185 | (8494) | (7309) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Global Growth Fund | (32008) | 1567987 | 93428 | 1629407 | 266498 | (1922244) | (34500) | (4417) | (1694663) | (65256) | 9322125 | 9256869 | 2525 | (66166) | (63641) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth Fund | (228190) | 1937873 | 1224578 | 2934261 | 607816 | (2106671) | 667903 | (19525) | (850477) | 2083784 | 17146655 | 19230439 | 32193 | (51980) | (19787) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth-Income Fund | (128240) | 3463934 | (931056) | 2404638 | 587686 | (2776385) | 42663 | (22207) | (2168243) | 236395 | 16490142 | 16726537 | 13233 | (82011) | (68778) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. New World Fund | (10370) | 205944 | 449844 | 645418 | 21252 | (291982) | (129456) | (19507) | (419693) | 225725 | 2606429 | 2832154 | 4711 | (29462) | (24751) |
| **Non-Affiliated Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | 88 | 19547 | 11792 | 31427 | 9534 | (58226) | (16) | (53) | (48761) | (17334) | 370404 | 353070 |  | (1207) | (1207) |
| **Non-Affiliated Class B:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | (6262) | 59609 | 170824 | 224171 | 89892 | (150967) | 49551 | (9752) | (21276) | 202895 | 2041393 | 2244288 | 6988 | (7495) | (507) |
| **Advisor Class:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT All Asset Portfolio | 12187 | (17925) | 53238 | 47500 | 9639 | (143708) | (870) | (1382) | (136321) | (88821) | 433469 | 344648 | 506 | (8487) | (7981) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT International Bond Portfolio (US Dollar Hedged) | 303 | (524) | 582 | 361 |  | (4149) | 850 | (24) | (3323) | (2962) | 15762 | 12800 | 156 | (453) | (297) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT CommodityRealReturn® Strategy Portfolio | 14335 | (117646) | 292698 | 189387 | 28168 | (276381) | (84230) | (8978) | (341421) | (152034) | 1253231 | 1101197 | 6500 | (66114) | (59614) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Long-Term U.S. Government Portfolio | 3049 | (42809) | 47401 | 7641 | 29400 | (17777) | (15963) | (360) | (4700) | 2941 | 165193 | 168134 | 5735 | (6259) | (524) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Low Duration Portfolio | 139113 | (22182) | 102286 | 219217 | 169749 | (552683) | 27962 | (17293) | (372265) | (153048) | 5484467 | 5331419 | 26406 | (59197) | (32791) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Real Return Portfolio | 8985 | (6159) | 27299 | 30125 | 10120 | (33543) | 1960 | (715) | (22178) | 7947 | 506545 | 514492 | 1023 | (2846) | (1823) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Total Return Portfolio | 1003330 | (1188919) | 2878807 | 2693218 | 792660 | (5915762) | 770946 | (356376) | (4708532) | (2015314) | 39043831 | 37028517 | 107958 | (450012) | (342054) |
| **Investor Class:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Global Managed Futures Strategy Fund | 541 | (899) | 2667 | 2309 | 516 | (41860) | 3910 | (1143) | (38577) | (36268) | 184868 | 148600 | 1376 | (7040) | (5664) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Multi-Hedge Strategies Fund | 1424 | (392) | (1363) | (331) | 880 | (12980) | 11105 | (799) | (1794) | (2125) | 167263 | 165138 | 1405 | (1583) | (178) |
| **ETF Shares:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P 500 ETF | (1043747) | 12991329 | (1040115) | 10907467 | 1524678 | (14935896) | (3549029) |  | (16960247) | (6052780) | 81000929 | 74948149 | 41958 | (199974) | (158016) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Mid-Cap ETF | (263254) | 1828244 | (483782) | 1081208 | 427479 | (4183670) | 1253393 |  | (2502798) | (1421590) | 22945125 | 21523535 | 30257 | (57800) | (27543) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Small-Cap ETF | (129108) | 908104 | (328679) | 450317 | 317881 | (2324650) | 828637 |  | (1178132) | (727815) | 12294052 | 11566237 | 26325 | (37834) | (11509) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core U.S. Aggregate Bond ETF | 14462 | (53053) | 94582 | 55991 |  | (420243) | 32085 |  | (388158) | (332167) | 1510315 | 1178148 | 3778 | (21242) | (17464) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® iBoxx $ High Yield Corporate Bond ETF | 25868 | 18703 | (10) | 44561 | 3908 | (57299) | 3756 |  | (49635) | (5074) | 753769 | 748695 | 537 | (1960) | (1423) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® 5-10 Year Investment Grade Corporate Bond ETF | 20475 | (38546) | 91147 | 73076 | 39974 | (296223) | 39001 |  | (217248) | (144172) | 1179712 | 1035540 | 5196 | (13286) | (8090) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® International Treasury Bond ETF | (130408) | (391469) | 1264130 | 742253 | 204987 | (1887464) | 366729 |  | (1315748) | (573495) | 10564399 | 9990904 | 55561 | (137343) | (81782) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Growth ETF | (192416) | 1650576 | 201026 | 1659186 | 850072 | (1329683) | (900941) |  | (1380552) | 278634 | 9322358 | 9600992 | 10779 | (21822) | (11043) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Value ETF | (23318) | 339378 | (18587) | 297473 | 72669 | (553655) | 94895 |  | (386091) | (88618) | 3104037 | 3015419 | 3197 | (7583) | (4386) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® TIPS Bond ETF | 743 | 17 | 4679 | 5439 | 7370 | (4281) | 4738 |  | 7827 | 13266 | 143277 | 156543 | 740 | (379) | 361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Developed Markets Index Fund, ETF Shares | 86355 | 1223134 | 1742175 | 3051664 | 427963 | (2020702) | (1424224) |  | (3016963) | 34701 | 10996249 | 11030950 | 14431 | (83105) | (68674) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Dividend Appreciation Index Fund, ETF Shares | (19217) | 238048 | 20568 | 239399 | 36852 | (375435) | (26883) |  | (365466) | (126067) | 2215787 | 2089720 | 1583 | (5027) | (3444) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Emerging Markets Stock Index Fund, ETF Shares | 306 | 34973 | 43783 | 79062 | 12952 | (71650) | (29579) |  | (88277) | (9215) | 370818 | 361603 | 790 | (3497) | (2707) |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 12 |
| (b) New Underlying Fund. See Note 1, if applicable. | 12 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Statements of Changes in Net Assets (continued)

For the Year Ended December 31, 2025

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | | | | Unit Transactions | Unit Transactions | Unit Transactions |
| Subaccount | Net investment <br>income (loss) | Realized gain <br>(loss) | Change in net <br>unrealized <br>appreciation <br>(depreciation) during <br>the period | Net increase <br>(decrease) in net <br>assets resulting from <br>operations | Contributions from <br>contract holders | Contract <br>terminations and <br>benefits | Net transfers among <br>investment options | Contract <br>maintenance <br>charges | Net increase (decrease) <br>in net assets from <br>contract related <br>transactions | Increase <br>(decrease) in net <br>assets | Net assets, <br>beginning of period | Net assets, end of <br>period | Units purchased | Units redeemed | Increase <br>(decrease) in <br>units |
| **ETF Shares (continued):** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares | $4225 | $761 | $7042 | $12028 | $— | $(4408) | $2059 | $— | $(2349) | $9679 | $181600 | $191279 | 190 | (266) | (76) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Large-Cap Index Fund, ETF Shares | (23880) | 242693 | 73725 | 292538 |  | (289547) | (65407) |  | (354954) | (62416) | 2038111 | 1975695 | 426 | (3696) | (3270) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Mega Cap Index Fund, ETF Shares | (4546) | 37191 | 15414 | 48059 |  | (66588) | (12437) |  | (79025) | (30966) | 298154 | 267188 | 79 | (754) | (675) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Real Estate Index Fund, ETF Shares | 10943 | 45132 | (49343) | 6732 | 1675 | (236008) | 44584 |  | (189749) | (183017) | 870078 | 687061 | 1325 | (5121) | (3796) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Short-Term Bond Index Fund, ETF Shares | 2440 | 5111 | (624) | 6927 |  | (34202) | 8874 |  | (25328) | (18401) | 229904 | 211503 | 869 | (2007) | (1138) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Total Bond Market Index Fund, ETF Shares | 940813 | (137154) | 2401629 | 3205288 | 1482129 | (14118274) | 3327013 |  | (9309132) | (6103844) | 78968890 | 72865046 | 227170 | (637057) | (409887) |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 13 |
| (b) New Underlying Fund. See Note 1, if applicable. | 13 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Statements of Changes in Net Assets

For the Year Ended December 31, 2024

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | | | | Unit Transactions | Unit Transactions | Unit Transactions |
| Subaccount | Net investment <br>income (loss) | Realized gain <br>(loss) | Change in net <br>unrealized <br>appreciation <br>(depreciation) during <br>the period | Net increase <br>(decrease) in net <br>assets resulting from <br>operations | Contributions from <br>contract holders | Contract <br>terminations and <br>benefits | Net transfers among <br>investment options | Contract <br>maintenance <br>charges | Net increase (decrease) <br>in net assets from <br>contract related <br>transactions | Increase <br>(decrease) in net <br>assets | Net assets, <br>beginning of period | Net assets, end of <br>period | Units purchased | Units redeemed | Increase <br>(decrease) in <br>units |
| **Affiliated:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Balanced Fund | $71302 | $(430838) | $2420986 | $2061450 | $559989 | $(2743799) | $(277543) | $(120479) | $(2581832) | $(520382) | $18108395 | $17588013 | 35364 | (267530) | (232166) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Bond Fund | 228470 | (523998) | 401157 | 105629 | 182816 | (3367108) | 883188 | (124487) | (2425591) | (2319962) | 9285466 | 6965504 | 114079 | (364937) | (250858) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Common Stock Fund | (265172) | 3396231 | 1792548 | 4923607 | 299977 | (4088715) | (477472) | (68269) | (4334479) | 589128 | 26608715 | 27197843 | 4059 | (236002) | (231943) |
| **Non-Affiliated Initial Class:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 7482 | 130219 | 103718 | 241419 |  | (167192) | (29110) | (408) | (196710) | 44709 | 1738936 | 1783645 | 1 | (4782) | (4781) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 2882 | 112611 | (60415) | 55078 |  | (143374) | (8521) | (1032) | (152927) | (97849) | 1311504 | 1213655 | 1 | (3118) | (3117) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 30703 | 668406 | 373194 | 1072303 | 23545 | (818194) | (46148) | (1373) | (842170) | 230133 | 7959733 | 8189866 | 46 | (7786) | (7740) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | (128885) | 2562711 | (121146) | 2312680 |  | (647536) | (266892) | (1300) | (915728) | 1396952 | 8302862 | 9699814 |  | (2581) | (2581) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 13786 | (947) | 9120 | 21959 |  | (16206) | 782 | (84) | (15508) | 6451 | 297446 | 303897 | 27 | (495) | (468) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager Portfolio | 23734 | 6907 | 147513 | 178154 |  | (314654) | (9698) | (948) | (325300) | (147146) | 2550541 | 2403395 | 42 | (4369) | (4327) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | (191761) | 2627929 | 1939174 | 4375342 | 39421 | (1259930) | (263107) | (2652) | (1486268) | 2889074 | 14157747 | 17046821 | 704 | (10799) | (10095) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | (6173) | 456971 | 775572 | 1226370 |  | (620601) | (44819) | (1029) | (666449) | 559921 | 5556169 | 6116090 | 2 | (12409) | (12407) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 32453 | (33129) | 8490 | 7814 |  | (188281) | 1 | (1180) | (189460) | (181646) | 1648986 | 1467340 | 3 | (12787) | (12784) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Government Money Market | 274443 |  |  | 274443 | 62044 | (2462073) | 4492960 | (10790) | 2082141 | 2356584 | 8427940 | 10784524 | 496166 | (298498) | 197668 |
| **Non-Affiliated Service Class:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 3126 | 31165 | (20749) | 13542 | 672 | (45960) | 237154 | (28) | 191838 | 205380 | 176201 | 381581 | 6301 | (1308) | 4993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | (9223) | 162418 | 5773 | 158968 |  | (23089) | (3) | (149) | (23241) | 135727 | 564774 | 700501 | 1 | (416) | (415) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 909 | (169) | 837 | 1577 |  | (51996) | 1 | (10) | (52005) | (50428) | 73523 | 23095 | 1 | (3015) | (3014) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager Portfolio | 28 | 26 | 142 | 196 |  | (58) |  | (11) | (69) | 127 | 2914 | 3041 |  | (3) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | (13764) | 154973 | 124936 | 266145 | 74530 | (156617) | 1 | (138) | (82224) | 183921 | 850898 | 1034819 | 9 | (1180) | (1171) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 539 | 8793 | 12167 | 21499 |  | (7652) | 1 | (42) | (7693) | 13806 | 160017 | 173823 |  | (236) | (236) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | (23313) | 392541 | 622 | 369850 |  | (382389) | (41) | (455) | (382885) | (13035) | 2367042 | 2354007 | 1 | (3420) | (3419) |
| **Non-Affiliated Service Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager Portfolio | 12590 | 32360 | 55009 | 99959 | 3756 | (180592) | 50045 | (3318) | (130109) | (30150) | 1460695 | 1430545 | 2831 | (9645) | (6814) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 23690 | 489736 | 537609 | 1051035 | 79744 | (922206) | (80268) | (14855) | (937585) | 113450 | 7894420 | 8007870 | 5329 | (32759) | (27430) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Bond Index Portfolio | 144087 | (112787) | (40819) | (9519) | 221521 | (450630) | 1123433 | (137445) | 756879 | 747360 | 9205517 | 9952877 | 157972 | (74998) | 82974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | (462711) | 6608265 | 2764986 | 8910540 | 1325522 | (5263281) | (786985) | (128859) | (4853603) | 4056937 | 29545111 | 33602048 | 28572 | (140669) | (112097) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Disciplined Small Cap Portfolio | (13918) | 200088 | 202730 | 388900 | 85414 | (402011) | (236884) | (28488) | (581969) | (193069) | 2760758 | 2567689 | 4423 | (26831) | (22408) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 6014 | 411830 | 109878 | 527722 | 8114 | (633361) | (34379) | (15882) | (675508) | (147786) | 4077595 | 3929809 | 6349 | (31111) | (24762) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Extended Market Index Portfolio | (128) | 1151 | 1837 | 2860 | 5185 |  | (11814) | (16) | (6645) | (3785) | 30065 | 26280 | 351 | (822) | (471) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2010 Portfolio | 3284 | (865) | 7410 | 9829 |  | (67348) | 902 | (1382) | (67828) | (57999) | 252247 | 194248 | 54 | (4070) | (4016) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2015 Portfolio | 7952 | 6949 | 9961 | 24862 |  | (48542) | 3242 | (5208) | (50508) | (25646) | 538334 | 512688 | 185 | (3063) | (2878) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2020 Portfolio | 35894 | 73121 | 81780 | 190795 |  | (393683) | (98875) | (37173) | (529731) | (338936) | 3491993 | 3153057 | 97 | (29296) | (29199) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2025 Portfolio | 43828 | 131826 | 206994 | 382648 | 11200 | (612682) | (170747) | (61152) | (833381) | (450733) | 5637971 | 5187238 | 6306 | (46881) | (40575) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2030 Portfolio | 5477 | 38092 | 31157 | 74726 | 29257 | (90430) | 28496 | (183) | (32860) | 41866 | 999814 | 1041680 | 4196 | (5825) | (1629) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | (287300) | 5173164 | 90020 | 4975884 | 600819 | (2424387) | (1005741) | (106089) | (2935398) | 2040486 | 18471332 | 20511818 | 11887 | (63520) | (51633) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 187161 | (40427) | 138226 | 284960 | 20142 | (1178549) | (115941) | (7095) | (1281443) | (996483) | 5115860 | 4119377 | 2296 | (63024) | (60728) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | (164697) | 4635238 | 4429078 | 8899619 | 2411902 | (6973254) | (139933) | (160085) | (4861370) | 4038249 | 41491481 | 45529730 | 90087 | (226436) | (136349) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP International Index Portfolio | 38093 | 3564 | 42653 | 84310 | 69500 | (105597) | 180082 | (29320) | 114665 | 198975 | 2313658 | 2512633 | 27145 | (17570) | 9575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 463026 | (769477) | 344258 | 37807 | 720794 | (5964818) | 2671348 | (274926) | (2847602) | (2809795) | 26346503 | 23536708 | 183496 | (397472) | (213976) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | (76334) | 1103963 | 12646 | 1040275 | 134480 | (1089362) | (230518) | (16039) | (1201439) | (161164) | 7115221 | 6954057 | 5655 | (32099) | (26444) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | (1925) | 197238 | (109424) | 85889 | 17398 | (411262) | 4801 | (7043) | (396106) | (310217) | 2213761 | 1903544 | 8149 | (29244) | (21095) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Target Volatility Portfolio | 10389 | 83261 | 264207 | 357857 | 13476 | (287340) | 103339 | (75789) | (246314) | 111543 | 4406024 | 4517567 | 8915 | (24451) | (15536) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Total Market Index Portfolio | (4396) | 164958 | 616717 | 777279 | 200246 | (258199) | (343202) | (51010) | (452165) | 325114 | 3618204 | 3943318 | 14167 | (38584) | (24417) |
| **Non-Affiliated Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Select Mid Cap Value Fund | (29613) | 104128 | 139320 | 213835 | 87802 | (177188) | 131910 | (5271) | 37253 | 251088 | 1797400 | 2048488 | 9936 | (7984) | 1952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | 11437 | (61425) | 229033 | 179045 |  | (117014) | 3 | (526) | (117537) | 61508 | 1094234 | 1155742 | 1 | (2709) | (2708) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 111755 | (27044) | 86756 | 171467 | 22567 | (248868) | (44232) | (487) | (271020) | (99553) | 2906683 | 2807130 | 221 | (8053) | (7832) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LVIP JPMorgan Mid Cap Value Fund | (1258) | 90085 | (36130) | 52697 |  | (107378) | (4) | (321) | (107703) | (55006) | 433825 | 378819 | 1 | (2088) | (2087) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 18234 | (4366) | 5240 | 19108 |  | (9474) | 339 | (181) | (9316) | 9792 | 199337 | 209129 | 13 | (360) | (347) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF U.S. Real Estate Portfolio | 11219 | 1056 | 86257 | 98532 |  | (188048) | (668577) | (706) | (857331) | (758799) | 758799 |  | 595 | (19650) | (19055) |
| **Non-Affiliated Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Managed Risk Asset Allocation Fund | 30487 | 73975 | 770164 | 874626 | 19663 | (344161) | (54405) | (117915) | (496818) | 377808 | 6904907 | 7282715 | 6029 | (38476) | (32447) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Small Cap Value Fund | (25720) | 113141 | 103474 | 190895 | 108629 | (640459) | (185622) | (15144) | (732596) | (541701) | 3100832 | 2559131 | 2013 | (19560) | (17547) |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 14 |
| (b) New Underlying Fund. See Note 1, if applicable. | 14 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Statements of Changes in Net Assets (continued)

For the Year Ended December 31, 2024

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | | | | Unit Transactions | Unit Transactions | Unit Transactions |
| Subaccount | Net investment <br>income (loss) | Realized gain <br>(loss) | Change in net <br>unrealized <br>appreciation <br>(depreciation) during <br>the period | Net increase <br>(decrease) in net <br>assets resulting from <br>operations | Contributions from <br>contract holders | Contract <br>terminations and <br>benefits | Net transfers among <br>investment options | Contract <br>maintenance <br>charges | Net increase (decrease) <br>in net assets from <br>contract related <br>transactions | Increase <br>(decrease) in net <br>assets | Net assets, <br>beginning of period | Net assets, end of <br>period | Units purchased | Units redeemed | Increase <br>(decrease) in <br>units |
| **Non-Affiliated Class 2 (continued):** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | $62293 | $(1021675) | $2078212 | $1118830 | $182364 | $(1216568) | $(177798) | $(27020) | $(1239022) | $(120192) | $7329741 | $7209549 | 6676 | (49765) | (43089) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 575813 | (57184) | 333773 | 852402 | 37955 | (1695208) | 958016 | (30316) | (729553) | 122849 | 15665949 | 15788798 | 49530 | (82001) | (32471) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Large Cap Growth VIP Fund | (78666) | 422857 | 863708 | 1207899 | 214689 | (736318) | (256960) | (38915) | (817504) | 390395 | 5147198 | 5537593 | 6184 | (27600) | (21416) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Mutual Shares VIP Fund | 113277 | (314674) | 2105014 | 1903617 | 413806 | (3167789) | (690957) | (172040) | (3616980) | (1713363) | 20225642 | 18512279 | 13312 | (197902) | (184590) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Value VIP Fund | (10983) | 38950 | 169181 | 197148 | 97134 | (76070) | 73604 | (3475) | 91193 | 288341 | 1897536 | 2185877 | 6748 | (3357) | 3391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Franchise Fund | (41901) | (123539) | 953962 | 788522 | 114669 | (612496) | 25460 | (5635) | (478002) | 310520 | 2446965 | 2757485 | 4703 | (14304) | (9601) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Value Fund | (81237) | 1045157 | 2378635 | 3342555 | 390884 | (2115959) | (2868546) | (129986) | (4723607) | (1381052) | 13675745 | 12294693 | 9710 | (165664) | (155954) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Comstock Fund | 5746 | 1303154 | 98019 | 1406919 | 331142 | (2260583) | (553108) | (96506) | (2579055) | (1172136) | 11345077 | 10172941 | 6661 | (95073) | (88412) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. EQV International Equity Fund | 6277 | (31360) | 1617 | (23466) | 146402 | (756937) | 118825 | (46901) | (538611) | (562077) | 4291215 | 3729138 | 15658 | (52211) | (36553) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Discovery Mid Cap Growth Fund | (34455) | (245731) | 818477 | 538291 | 50030 | (250593) | (313101) | (28079) | (541743) | (3452) | 2628209 | 2624757 | 10054 | (46643) | (36589) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Foreign VIP Fund | 80238 | 32065 | (280711) | (168408) | 314125 | (1397885) | 260221 | (80979) | (904518) | (1072926) | 8648020 | 7575094 | 54029 | (124797) | (70768) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond VIP Fund | (24319) | (72503) | (115344) | (212166) | 8048 | (186854) | 126366 | (692) | (53132) | (265298) | 1672241 | 1406943 | 19255 | (26947) | (7692) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Growth VIP Fund | (10105) | 31879 | 65536 | 87310 | 24559 | (208743) | 10932 | (2833) | (176085) | (88775) | 2129539 | 2040764 | 3206 | (10577) | (7371) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 51451 | (27453) | 30282 | 54280 | 1100 | (50401) | (2440) | (1759) | (53500) | 780 | 588666 | 589446 | 593 | (4377) | (3784) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Equity Portfolio | (2305) | (27160) | 135922 | 106457 | 2039 | (249793) | 112311 | (3965) | (139408) | (32951) | 1468991 | 1436040 | 9209 | (15011) | (5802) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF U.S. Real Estate Portfolio | 39219 | (102413) | 490858 | 427664 | 61812 | (685136) | (3357172) | (26743) | (4007239) | (3579575) | 3579575 |  | 9085 | (284742) | (275657) |
| **Non-Affiliated Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Capital Appreciation V.I. Fund | (197879) | 4817426 | (901266) | 3718281 | 198385 | (4811890) | (1101791) | (160335) | (5875631) | (2157350) | 13957773 | 11800423 | 12829 | (153068) | (140239) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Global Allocation V.I. Fund | 1932 | 112342 | 748 | 115022 | 31414 | (124566) | 60749 | (10758) | (43161) | 71861 | 1570539 | 1642400 | 7119 | (10035) | (2916) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock High Yield V.I. Fund | 52639 | (8768) | 17818 | 61689 | 43705 | (58916) | 9314 | (10048) | (15945) | 45744 | 917291 | 963035 | 7347 | (8341) | (994) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Total Return V.I. Fund | 48241 | (91715) | 40941 | (2533) | 104967 | (425533) | 164522 | (28070) | (184114) | (186647) | 1871217 | 1684570 | 31173 | (49815) | (18642) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOPS® Managed Risk Moderate Growth ETF Portfolio | 22970 | 27658 | 77947 | 128575 | 2353 | (274647) | 27774 | (37630) | (282150) | (153575) | 2186683 | 2033108 | 3801 | (25144) | (21343) |
| **Non-Affiliated Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. The Bond Fund of America | 94559 | (72713) | (28918) | (7072) | 294856 | (375225) | 1040316 | (35069) | 924878 | 917806 | 2532529 | 3450335 | 130925 | (39034) | 91891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Capital Income Builder Fund | 23531 | 35393 | 53854 | 112778 | 50025 | (131200) | (74979) | (7535) | (163689) | (50911) | 1422314 | 1371403 | 5601 | (17661) | (12060) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Global Growth Fund | (13097) | 634189 | 451781 | 1072873 | 130206 | (955812) | (130857) | (5343) | (961806) | 111067 | 9211058 | 9322125 | 3615 | (43004) | (39389) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth Fund | (203254) | 1272706 | 3120399 | 4189851 | 69745 | (2389603) | (29748) | (20344) | (2369950) | 1819901 | 15326754 | 17146655 | 17316 | (79068) | (61752) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth-Income Fund | (95764) | 1402046 | 1928689 | 3234971 | 573601 | (2021447) | (423218) | (27857) | (1898921) | 1336050 | 15154092 | 16490142 | 13117 | (79683) | (66566) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. New World Fund | (3366) | 65167 | 68520 | 130321 | 81798 | (283093) | 33928 | (26286) | (193653) | (63332) | 2669761 | 2606429 | 13975 | (27523) | (13548) |
| **Non-Affiliated Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | (699) | 13272 | 21884 | 34457 |  | (28460) | 47 | (54) | (28467) | 5990 | 364414 | 370404 | 3 | (671) | (668) |
| **Non-Affiliated Class B:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | (10118) | 42156 | 150957 | 182995 | 63944 | (230185) | (54264) | (12423) | (232928) | (49933) | 2091326 | 2041393 | 3699 | (11437) | (7738) |
| **Advisor Class:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT All Asset Portfolio | 20982 | (4763) | (7253) | 8966 | 1600 | (32484) | 25017 | (1940) | (7807) | 1159 | 432310 | 433469 | 1811 | (2276) | (465) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT International Bond Portfolio (US Dollar Hedged) | 369 | (3527) | 3583 | 425 |  | (541) | (27056) | (42) | (27639) | (27214) | 42976 | 15762 | 104 | (2666) | (2562) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT CommodityRealReturn® Strategy Portfolio | 6915 | 5424 | 25710 | 38049 | 71481 | (391681) | 187910 | (13684) | (145974) | (107925) | 1361156 | 1253231 | 43473 | (71638) | (28165) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Long-Term U.S. Government Portfolio | 2432 | (46542) | 30597 | (13513) | 720 | (13810) | (25452) | (436) | (38978) | (52491) | 217684 | 165193 | 1755 | (6050) | (4295) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Low Duration Portfolio | 123439 | (66258) | 78266 | 135447 | 61325 | (1078782) | 1559317 | (22709) | 519151 | 654598 | 4829869 | 5484467 | 175736 | (131467) | 44269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Real Return Portfolio | 6125 | (13307) | 12025 | 4843 | 5597 | (84734) | 89287 | (984) | 9166 | 14009 | 492536 | 506545 | 12713 | (11344) | 1369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Total Return Portfolio | 1042646 | (1219394) | 610920 | 434172 | 1232642 | (6497761) | 2260605 | (488338) | (3492852) | (3058680) | 42102511 | 39043831 | 233643 | (502411) | (268768) |
| **Investor Class:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Global Managed Futures Strategy Fund | 2603 | 6569 | (11188) | (2016) | 554 | (90517) | 30165 | (2123) | (61921) | (63937) | 248805 | 184868 | 4835 | (13673) | (8838) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Multi-Hedge Strategies Fund | 5935 | 1712 | (16350) | (8703) | 960 | (21157) | 18600 | (1052) | (2649) | (11352) | 178615 | 167263 | 2009 | (2216) | (207) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Long Short Equity Fund | (826) | 21828 | (13139) | 7863 | 440 | (2629) | (108794) | (88) | (111071) | (103208) | 103208 |  | 104 | (8603) | (8499) |
| **ETF Shares:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P 500 ETF | (1060665) | 14451858 | 3457782 | 16848975 | 1926402 | (15190993) | (8652982) |  | (21917573) | (5068598) | 86069527 | 81000929 | 47452 | (258078) | (210626) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Mid-Cap ETF | (306043) | 2769540 | 155251 | 2618748 | 628417 | (4203213) | (1283503) |  | (4858299) | (2239551) | 25184676 | 22945125 | 24928 | (83942) | (59014) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Small-Cap ETF | (75165) | 1092130 | (242002) | 774963 | 295805 | (2117997) | (471048) |  | (2293240) | (1518277) | 13812329 | 12294052 | 15884 | (42824) | (26940) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core U.S. Aggregate Bond ETF | 13544 | (21450) | (16505) | (24411) | 64000 | (167184) | 154173 |  | 50989 | 26578 | 1483737 | 1510315 | 10037 | (7337) | 2700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® iBoxx $ High Yield Corporate Bond ETF | 28061 | 22476 | (10960) | 39577 | 4000 | (77450) | (734) |  | (74184) | (34607) | 788376 | 753769 | 684 | (2807) | (2123) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® 5-10 Year Investment Grade Corporate Bond ETF | 18093 | (12406) | 1047 | 6734 | 50000 | (132615) | 104624 |  | 22009 | 28743 | 1150969 | 1179712 | 6707 | (5247) | 1460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® International Treasury Bond ETF | (226066) | (295441) | (486395) | (1007902) | 245874 | (1901870) | 1729498 |  | 73502 | (934400) | 11498799 | 10564399 | 93789 | (89319) | 4470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Growth ETF | (193170) | 1794674 | 1004212 | 2605716 | 313235 | (1381640) | (1122949) |  | (2191354) | 414362 | 8907996 | 9322358 | 10165 | (27258) | (17093) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Value ETF | (15804) | 409918 | (79549) | 314565 | 50696 | (662496) | (94678) |  | (706478) | (391913) | 3495950 | 3104037 | 2296 | (11073) | (8777) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® TIPS Bond ETF | (154) | 690 | (2475) | (1939) | 4500 | (68799) | 13812 |  | (50487) | (52426) | 195703 | 143277 | 814 | (2580) | (1766) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Developed Markets Index Fund, ETF Shares | 64388 | 493197 | (467638) | 89947 | 265606 | (2011700) | 552412 |  | (1193682) | (1103735) | 12099984 | 10996249 | 24829 | (49604) | (24775) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Dividend Appreciation Index Fund, ETF Shares | (17737) | 144568 | 166515 | 293346 | 64000 | (212383) | (91598) |  | (239981) | 53365 | 2162422 | 2215787 | 2327 | (4225) | (1898) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Emerging Markets Stock Index Fund, ETF Shares | 1485 | 16340 | 12630 | 30455 |  | (60416) | (17835) |  | (78251) | (47796) | 418614 | 370818 | 660 | (3499) | (2839) |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 15 |
| (b) New Underlying Fund. See Note 1, if applicable. | 15 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Statements of Changes in Net Assets (continued)

For the Year Ended December 31, 2024

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Inccrease (deccrease) in net assets from operations | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | Increase (decrease) in net assets from contract related transactions | | | | Unit Transactions | Unit Transactions | Unit Transactions |
| Subaccount | Net investment <br>income (loss) | Realized gain <br>(loss) | Change in net <br>unrealized <br>appreciation <br>(depreciation) during <br>the period | Net increase <br>(decrease) in net <br>assets resulting from <br>operations | Contributions from <br>contract holders | Contract <br>terminations and <br>benefits | Net transfers among <br>investment options | Contract <br>maintenance <br>charges | Net increase (decrease) <br>in net assets from <br>contract related <br>transactions | Increase <br>(decrease) in net <br>assets | Net assets, <br>beginning of period | Net assets, end of <br>period | Units purchased | Units redeemed | Increase <br>(decrease) in <br>units |
| **ETF Shares (continued):** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares | $3525 | $384 | $(2591) | $1318 | $— | $(3669) | $8971 | $— | $5302 | $6620 | $174980 | $181600 | 341 | (133) | 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Large-Cap Index Fund, ETF Shares | (21907) | 231150 | 198543 | 407786 | 50000 | (244734) | (115711) |  | (310445) | 97341 | 1940770 | 2038111 | 1777 | (4021) | (2244) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Mega Cap Index Fund, ETF Shares | (3155) | 24225 | 34176 | 55246 | 50000 | (39049) | 6658 |  | 17609 | 72855 | 225299 | 298154 | 1866 | (606) | 1260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Real Estate Index Fund, ETF Shares | 12014 | 32307 | (20852) | 23469 | 4000 | (94719) | (18632) |  | (109351) | (85882) | 955960 | 870078 | 1528 | (3546) | (2018) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Short-Term Bond Index Fund, ETF Shares | 1330 | 2321 | (2094) | 1557 | 1000 | (73241) | 24675 |  | (47566) | (46009) | 275913 | 229904 | 1120 | (3419) | (2299) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Total Bond Market Index Fund, ETF Shares | 800710 | (652193) | (1129798) | (981281) | 1869845 | (14111992) | 9631931 |  | (2610216) | (3591497) | 82560387 | 78968890 | 366868 | (474850) | (107982) |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 16 |
| (b) New Underlying Fund. See Note 1, if applicable. | 16 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements

December 31, 2025

**1. Organization and Nature of Operations**

Integrity Life Insurance Company Separate Account I (the "Separate Account") is a unit investment trust registered under the Investment Company Act of 1940 (the "1940 Act"), established by the Integrity Life Insurance Company (the "Company"), a life insurance company, that is a wholly-owned subsidiary of The Western and Southern Life Insurance Company. The Separate Account was established on May 19, 1986, for the purpose of issuing variable annuity contracts ("Contracts").

Contract holders may allocate or transfer their account values to one or more of the Separate Account's investment subaccounts, or for certain contract holders, to one or more fixed guaranteed rate options of the Company's Separate Account Guaranteed Principal Option ("GPO"). Options in the Separate Account GPO include fixed guaranteed rate options over various maturity periods that are subject to a market value adjustment ("MVA") and a Systematic Transfer Option ("STO"), which accumulates interest at a fixed rate without an MVA. All STO contributions must be transferred to other investment divisions or to a guaranteed rate option within either six months or one year of the contribution. In addition, certain contract holders may also allocate or transfer their account values to options held in the Company's general account. Such options include a guaranteed interest division or quarterly rate option.

Each subaccount invests all its investible assets in shares of corresponding investment portfolios ("Underlying Funds") of the investment companies listed below:

---

| | |
|:---|:---|
| **<u>American Funds Insurance Series</u>** | **<u>Columbia Funds Variable Portfolios</u>** |
| &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 2** | &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 1** |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Managed Risk Asset Allocation Fund | &nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Select Mid Cap Value Fund |
| &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 4** | &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 2** |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. The Bond Fund of America | &nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Small Cap Value Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Capital Income Builder Fund |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Global Growth Fund | **<u>DWS Investments VIT Funds</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth Fund | &nbsp;&nbsp;&nbsp;**Non-Affiliated Class A:** |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth-Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. New World Fund | &nbsp;&nbsp;&nbsp;**Non-Affiliated Class B:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund |
| **<u>BlackRock Variable Series Funds</u>** |  |
| &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 3** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Capital Appreciation V.I. Fund |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Global Allocation V.I. Fund |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock High Yield V.I. Fund |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Total Return V.I. Fund |  |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**1. Organization and Nature of Operations (continued)**

---

| | |
|:---|:---|
| **<u>Fidelity Variable Insurance Products</u>** | **<u>Franklin Templeton VIP Trust</u>** |
| &nbsp;&nbsp;&nbsp;**Non-Affiliated Initial Class:** | &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 1:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 2:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Large Cap Growth VIP Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Mutual Shares VIP Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Value VIP Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Foreign VIP Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Government Money Market | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond VIP Fund |
| &nbsp;&nbsp;&nbsp;**Non-Affiliated Service Class:** | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Growth VIP Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | **<u>Rydex Variable Trust (Guggenheim Variable Insurance Funds)</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | &nbsp;&nbsp;&nbsp;**Investor Class:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Global Managed Futures Strategy Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Multi-Hedge Strategies Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | **<u>iShares Trust</u>** |
|  | &nbsp;&nbsp;&nbsp;**ETF Shares:** |
| &nbsp;&nbsp;&nbsp;**Non-Affiliated Service Class 2:** | &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P 500 ETF |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Mid-Cap ETF |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Small-Cap ETF |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Bond Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core U.S. Aggregate Bond ETF |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;iShares® iBoxx $ High Yield Corporate Bond ETF |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Disciplined Small Cap Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;iShares® 5-10 Year Investment Grade Corporate Bond ETF |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;iShares® International Treasury Bond ETF  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Extended Market Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Growth ETF |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2010 Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Value ETF |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2015 Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;iShares® TIPS Bond ETF |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2020 Portfolio |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2025 Portfolio | **<u>Invesco (AIM) Variable Insurance Funds</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2030 Portfolio | &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 2:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Franchise Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Value Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Comstock Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP International Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. EQV International Equity Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Discovery Mid Cap Growth Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Target Volatility Portfolio |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Total Market Index Portfolio |  |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**1. Organization and Nature of Operations (continued)**

---

| | |
|:---|:---|
| **<u>Lincoln Financial Group</u>** | **<u>Touchstone Variable Series Trust</u>** |
| &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 1:** | &nbsp;&nbsp;&nbsp;**Affiliated Service Class:** |
| &nbsp;&nbsp;&nbsp;&nbsp;LVIP JPMorgan Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Balanced Fund |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Bond Fund |
| **<u>Morgan Stanley Variable Insurance Funds, Inc.</u>** | &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Common Stock Fund |
| &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 1:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | **<u>The Vanguard Index Funds</u>** |
|  | &nbsp;&nbsp;&nbsp;**ETF Shares:** |
| &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 2:** | &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Developed Markets Index Fund, ETF Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Dividend Appreciation Index Fund, ETF Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Equity Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Emerging Markets Stock Index Fund, ETF Shares |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares |
| **<u>Pimco Variable Insurance Trust</u>** | &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Large-Cap Index Fund, ETF Shares |
| &nbsp;&nbsp;&nbsp;**Advisor Class:** | &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Mega Cap Index Fund, ETF Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT All Asset Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Real Estate Index Fund, ETF Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT International Bond Portfolio (US Dollar Hedged) | &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Short-Term Bond Index Fund, ETF Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT CommodityRealReturn® Strategy Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Total Bond Market Index Fund, ETF Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Long-Term U.S. Government Portfolio |  |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Low Duration Portfolio |  |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Real Return Portfolio |  |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Total Return Portfolio |  |
| **<u>Northern Lights Variable Trust</u>** |  |
| &nbsp;&nbsp;&nbsp;**Non-Affiliated Class 3:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;TOPS® Managed Risk Moderate Growth ETF Portfolio |  |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**1. Organization and Nature of Operations (continued)**

---

| | | |
|:---|:---|:---|
| During the year ended December 31, 2025, the following Underlying Funds had name changes that were made effective: | During the year ended December 31, 2025, the following Underlying Funds had name changes that were made effective: | During the year ended December 31, 2025, the following Underlying Funds had name changes that were made effective: |
| Date: | New Name: | Old Name: |
| 4/30/2025 | Fidelity VIP Asset Manager 50% Portfolio | Fidelity VIP Asset Manager Portfolio |
| The statements of changes in net assets for all of the Underlying Funds are presented in the financial statements for the years ended December 31, 2025 and December 31, 2024 with the exception of the following Underlying Funds: | The statements of changes in net assets for all of the Underlying Funds are presented in the financial statements for the years ended December 31, 2025 and December 31, 2024 with the exception of the following Underlying Funds: | The statements of changes in net assets for all of the Underlying Funds are presented in the financial statements for the years ended December 31, 2025 and December 31, 2024 with the exception of the following Underlying Funds: |
| Period: | Underlying Fund: |  |
| 1/1/2024 - 8/16/2024 | Guggenheim VT Long Short Equity Fund |  |
| 1/1/2024 - 12/6/2024 | Morgan Stanley VIF U.S. Real Estate Portfolio |  |
| 1/1/2024 - 12/6/2024 | Morgan Stanley VIF U.S. Real Estate Portfolio Class II | Morgan Stanley VIF U.S. Real Estate Portfolio Class II |

---

American Trust Custody, a South Dakota registered non-depository trust company, is the custodian for the Vanguard ETFs and the iShares ETFs held by the subaccounts.

The contract holder's account value in a subaccount will vary depending on the performance of the corresponding Underlying Fund. The Separate Account currently has 104 subaccounts available. The investment objective of each subaccount is to invest in the corresponding Underlying Fund. Refer to each Underlying Fund's prospectus for a description of investment objectives.

Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the Company's other assets and liabilities. The portion of the Separate Account's assets applicable to contract holders' accounts is not chargeable with liabilities arising out of any other business the Company may conduct.

**2. Summary of Significant Accounting Policies**

**Basis of Presentation**

The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("US GAAP").

**Investments**

Investments in shares of the Underlying Funds are valued at fair value as determined by the closing net asset value per share on December 31, 2025. The difference between cost and fair value is reflected as unrealized appreciation or depreciation of investments.

Share transactions are recorded on the trade date. Realized gains and losses on sales of the Underlying Funds' shares are determined based on the identified cost basis.

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**2. Summary of Significant Accounting Policies (continued)** 

Capital gain distributions are included in the realized gain distributions line on the Statements of Operations. Dividends are included in the reinvested dividends line on the Statements of Operations. Dividends and capital gain distributions are recorded on the ex-dividend date. Dividends and capital gain distributions from the Underlying Funds' are reinvested in the respective Underlying Funds and are reflected in the unit values of the subaccounts.

The Separate Account's investments are held at fair value. Fair value is the price that the Separate Account would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is established using a three-level hierarchy based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or

unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or

liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity's own assessment regarding the assumptions market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The Separate Account's investments are assigned a level based upon the observability of the inputs that are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - inputs to the valuation methodology are quoted prices in active markets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - inputs to the valuation methodology are observable, directly or indirectly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - inputs to the valuation methodology are unobservable and reflect assumptions on the part of the reporting entity.

The Separate Account's investments are valued as Level 1. There were no transfers between levels 1, 2, and 3 during the year. The Separate Account's policy is to recognize the transfers in and transfers out of levels at the beginning of the annual reporting period.

**Unit Value**

Unit values for the subaccounts are computed at the end of each business day. The unit value is equal to the unit value for the preceding business day multiplied by a net investment factor. This net investment factor is determined based on the net asset value of the Underlying Fund, reinvested dividends and capital gains, and the daily asset charge for the mortality and expense risk and certain administrative charges, as applicable.

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**2. Summary of Significant Accounting Policies (continued)** 

**Taxes**

Operations of the Separate Account are included in the income tax return of the Company, which is taxed as a life insurance company under the Internal Revenue Code ("IRC"). The Separate Account is not taxed as a regulated investment company under Subchapter M of the IRC. Under the provisions of the policies, the Company has the right to charge the Separate Account for federal income tax attributable to the Separate Account.

No charge is currently being made against the Separate Account for such tax since, under current tax law, the Company pays no tax on investment income and capital gains reflected in variable annuity policy reserves. However, the Company retains the right to charge for any federal income tax incurred, which is attributable to the Separate Account if the law is changed. Charges for state and local taxes, if any, attributable to the Separate Account may also be made.

**Use of Estimates**

The preparation of financial statements in accordance with US GAAP 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.

**Segment Reporting**

In this reporting period, we adopted Financial Accounting Standards Board (FASB) Accounting Standards Update 2023-07, *Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07")*. Adoption of the new standard impacted financial statement disclosures only and did not affect our financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The CODM is the 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 change in net assets resulting 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 Statement of Assets and Liabilities as "total assets" and significant segment expenses are listed on the accompanying Statement of Operations.

**Subsequent Events**

The Company evaluated events or transactions that may have occurred after the balance sheet date for potential recognition or disclosure through the date the financial statements were available to be issued and determined that no additional disclosures are required.

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**3. Investments**

The aggregate cost of Underlying Fund shares purchased and proceeds from Underlying Fund shares sold during the period ended December 31, 2025 and the cost of investments held at December 31, 2025, for each subaccount, were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount** | **Purchases** | **Sales** | **Cost** |
| **Affiliated:** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Balanced Fund | $1113368 | $(3252659) | $15016090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Bond Fund | 901478 | (2340404) | 6136444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Common Stock Fund | 3870043 | (5926848) | 21139982 |
| **Non-Affiliated Initial Class:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 103789 | (469566) | 1151835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 128255 | (206004) | 981178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 602449 | (1049565) | 7051542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 1197856 | (1501959) | 8455081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 19973 | (59762) | 286824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 169255 | (393939) | 2017489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 2850783 | (1713893) | 14203431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | 102958 | (693644) | 2887115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 46332 | (304329) | 1390542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Government Money Market | 2667778 | (3687490) | 9764810 |
| **Non-Affiliated Service Class:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 30833 | (7296) | 414329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 83792 | (144689) | 597805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 653 | (14857) | 9507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 144 | (3080) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 173185 | (95574) | 831116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 11838 | (8436) | 133682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | 258385 | (387937) | 2091550 |
| **Non-Affiliated Service Class 2:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 117628 | (222213) | 1274062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 1250741 | (1054643) | 7238516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Bond Index Portfolio | 1024513 | (1510987) | 10121059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 8043575 | (5778131) | 30293203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Disciplined Small Cap Portfolio | 500517 | (517548) | 2220948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 401487 | (415577) | 3703813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Extended Market Index Portfolio | 1177 | (430) | 22994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2010 Portfolio | 8680 | (85353) | 135633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2015 Portfolio | 43494 | (79071) | 545403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2020 Portfolio | 256717 | (476171) | 3063980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2025 Portfolio | 388615 | (1945157) | 3672551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2030 Portfolio | 104050 | (353396) | 721815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 4113907 | (3076614) | 20857928 |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 23 |
| (b) New Underlying Fund. Note 1, if applicable. | 23 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**3. Investments (continued)**

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount** | **Purchases** | **Sales** | **Cost** |
| **Non-Affiliated Service Class 2 (continued):** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | $355547 | $(840526) | $3667478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | 4707723 | (9420216) | 28240507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP International Index Portfolio | 250047 | (609317) | 2151130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 1709038 | (4498155) | 23815122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | 1433087 | (1145212) | 7087627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 625370 | (448422) | 2064517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Target Volatility Portfolio | 1333201 | (463955) | 5384308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Total Market Index Portfolio | 228577 | (631983) | 2727210 |
| **Non-Affiliated Class 1:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Select Mid Cap Value Fund | 177644 | (224205) | 1646079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | 112115 | (290919) | 816738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 171479 | (471013) | 2510827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LVIP JPMorgan Mid Cap Value Fund | 40038 | (51578) | 380586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 32193 | (17490) | 270179 |
| **Non-Affiliated Class 2:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Managed Risk Asset Allocation Fund | 861537 | (1177612) | 6895170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Small Cap Value Fund | 569106 | (608975) | 2309444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | 1047394 | (1417495) | 5962507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 1360853 | (6530554) | 10805097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Large Cap Growth VIP Fund | 1327392 | (863982) | 5269324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Mutual Shares VIP Fund | 2641786 | (3464322) | 16876884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Value VIP Fund | 308080 | (304741) | 2143799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Franchise Fund | 624476 | (398602) | 2301817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Value Fund | 2476853 | (2703703) | 10428686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Comstock Fund | 1350782 | (2063088) | 8579539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. EQV International Equity Fund | 350178 | (744067) | 3539852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Discovery Mid Cap Growth Fund | 693271 | (372808) | 2776505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Foreign VIP Fund | 833453 | (1945409) | 6243592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond VIP Fund | 52468 | (270483) | 1577326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Growth VIP Fund | 204282 | (564102) | 1536786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 165422 | (104841) | 736326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Equity Portfolio | 67218 | (224872) | 1331336 |
| **Non-Affiliated Class 3:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Capital Appreciation V.I. Fund | 2405333 | (3280230) | 11707297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Global Allocation V.I. Fund | 250663 | (283298) | 1782461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock High Yield V.I. Fund | 119767 | (160159) | 949714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Total Return V.I. Fund | 248601 | (458599) | 1601686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOPS® Managed Risk Moderate Growth ETF Portfolio | 71463 | (287055) | 1624892 |
| **Non-Affiliated Class 4:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. The Bond Fund of America | 452682 | (891712) | 3264072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Capital Income Builder Fund | 57080 | (148018) | 1169461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Global Growth Fund | 1327937 | (1899392) | 7980044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth Fund | 2956155 | (2632875) | 15169692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth-Income Fund | 3362137 | (2857873) | 13698232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. New World Fund | 215085 | (528699) | 2378856 |
| **Non-Affiliated Class A:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | 24613 | (53344) | 292562 |
| **Non-Affiliated Class B:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | 327923 | (236396) | 2080715 |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 24 |
| (b) New Underlying Fund. Note 1, if applicable. | 24 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**3. Investments (continued)**

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount** | **Purchases** | **Sales** | **Cost** |
| **Advisor Class:** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT All Asset Portfolio | $26859 | $(150989) | $353087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT International Bond Portfolio (US Dollar Hedged) | 2218 | (5239) | 13181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT CommodityRealReturn® Strategy Portfolio | 68341 | (395424) | 1072836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Long-Term U.S. Government Portfolio | 52628 | (54278) | 200481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Low Duration Portfolio | 517519 | (750665) | 5343329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Real Return Portfolio | 30522 | (43715) | 543001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Total Return Portfolio | 3020722 | (6725920) | 40134002 |
| **Investor Class:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Global Managed Futures Strategy Fund | 12072 | (50111) | 149832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Multi-Hedge Strategies Fund | 16306 | (16685) | 173573 |
| **ETF Shares:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P 500 ETF | 4121450 | (22125440) | 44106075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Mid-Cap ETF | 1937129 | (4703182) | 15355759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Small-Cap ETF | 1480153 | (2787382) | 8877552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® Core U.S. Aggregate Bond ETF | 136716 | (510411) | 1381575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® iBoxx $ High Yield Corporate Bond ETF | 60137 | (83911) | 929526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® 5-10 Year Investment Grade Corporate Bond ETF | 181009 | (377788) | 1139375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® International Treasury Bond ETF | 1058552 | (2504712) | 11075144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Growth ETF | 1185427 | (2758368) | 5493840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Value ETF | 295216 | (704641) | 2208009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares® TIPS Bond ETF | 21633 | (13065) | 188794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Developed Markets Index Fund, ETF Shares | 1044501 | (3975110) | 9198536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Dividend Appreciation Index Fund, ETF Shares | 93312 | (478002) | 1421765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Emerging Markets Stock Index Fund, ETF Shares | 30146 | (118118) | 359465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares | 14113 | (12223) | 225387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Large-Cap Index Fund, ETF Shares | 55225 | (434050) | 1150775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Mega Cap Index Fund, ETF Shares | 7488 | (91075) | 187129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Real Estate Index Fund, ETF Shares | 85582 | (264392) | 807885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Short-Term Bond Index Fund, ETF Shares | 28421 | (51302) | 233590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Total Bond Market Index Fund, ETF Shares | 8094883 | (16463203) | 86408815 |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1, if applicable. | 25 |
| (b) New Underlying Fund. Note 1, if applicable. | 25 |
| (c) Merger. See Note 1, if applicable. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**4. Expenses and Related Party Transactions**

The Company assumes mortality and expense risks and incurs certain administrative expenses related to the operations of the Separate Account. All charges listed below under "Mortality and Expenses %" are the annual rates deducted as a daily charge, thus affecting the unit values. All other charges, including the annual administration fee, some optional benefit fees (those not listed under "Mortality and Expense %"), withdrawal charges and transfer charges, if any, are taken from the contract owner's account value by redeeming units. Fourteen contracts are currently included in the Separate Account. The products are stated in the table below, along with the mortality and expense charges and the annual administration fee:

---

| | | | |
|:---|:---|:---|:---|
| | **<u>Contracts</u>** | **Mortality and Expense %** | **Annual Administration Fee** |
| 1 | GrandMaster | 1.35 | $30 |
| 2 | GrandMaster flex3 | 1.55 | $50 |
| 3 | IQ | 1.35 | $30 |
| 4 | IQ3 | 1.45 | $30 |
| 5 | IQ Advisor - Standard | 0.60 | N/A |
|  | IQ Advisor - Enhanced | 0.80 | N/A |
| 6 | AnnuiChoice | 1.00 | $30 |
|  | AnnuiChoice - GMAB Rider | 1.60 | $30 |
| 7 | AnnuiChoice II | 1.15 | $30 |
|  | AnnuiChoice II - GMAB Rider | 1.75 | $30 |
| 8 | Pinnacle Plus | 1.67 | $40 |
|  | Pinnacle Plus- Reduced M&E | 1.15 | $40 |
| 9 | Pinnacle | 1.35 | $30 |
|  | Pinnacle-Reduced M&E | 1.10 | $30 |
| 10 | Pinnacle IV | 1.45 | $30 |
|  | Pinnacle IV - GMAB | 2.05 | $30 |
| 11 | Pinnacle V | 1.55 | $30 |
|  | Pinnacle V - GMAB | 2.15 | $30 |
| 12 | AdvantEdge | 1.60 | $50 |
| 13 | VAROOM | 1.75 | N/A |
|  | VAROOM - Standard Option | 2.35 | N/A |
|  | VAROOM - Self Styled Option | 2.55 | N/A |
| 14 | VAROOM II | 1.90 | N/A |
|  | VAROOM II - Standard Option | 2.55 | N/A |
|  | VAROOM II - Self Styled Option | 2.75 | N/A |
|  | VAROOM II - Standard Option II | 3.00 | N/A |
|  | VAROOM II - Self Styled Option II | 3.20 | N/A |

---

For optional benefits that are not included in the daily mortality and expense charge, the Company deducts an amount either quarterly or annually, depending on the benefit, to cover the cost of the additional benefits elected.

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**4. Expenses and Related Party Transactions (continued)**

For charges that are dependent on contract owner actions, e.g., withdrawal charges and transfer fees, the Company deducts an amount at the time of the transaction to cover the cost. In both situations (ongoing benefit charges and transaction charges), the fees are deducted from the contract owner's account value by redeeming units.

Touchstone Advisors Inc., which is affiliated with the Company, advises each of the Touchstone Variable Series Trust offered through the Company's variable products.

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**5. Financial Highlights**

A summary of net assets, unit values and units outstanding for variable annuity contracts, investment income and expense ratios, excluding expenses of the underlying funds and total returns are presented for each period ended December 31. The ranges of lowest to highest unit values and total return are based on the product groupings that represent lowest and highest expense ratio amounts. The first unit value presented in the range of each subaccount within the table corresponds to the highest expense ratio for each subaccount presented within the table. The first total return presented in the range of each subaccount within the table corresponds to the highest expense ratio for each subaccount presented within the table. Therefore, some individual contract ratios are not within the ranges presented. The financial highlights include historical highlights for funds that may no longer be offered in the current year statements.

\*\* Investment income ratio amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Underlying Fund net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense risk and administrative charges, that result in direct reductions in the unit values. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Underlying Fund in which the subaccounts invest. Therefore, the investment income ratio is greatly affected by the amount of subaccount assets that are present on specific dividend record dates.

\*\*\* Expense ratio amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense risk and administrative charges, for each period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying fund are excluded.

\*\*\*\* Total return amounts represent the total return for the periods indicated, including changes in the fair value of the Underlying Fund, which includes expenses assessed through the reduction of unit values. The ratio does not include any expenses assessed through the redemption of units. Subaccounts with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for the period indicated or from the effective date through the end of the reporting period.

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2025**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Affiliated:** | | | | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Balanced Fund | 1292 | $12.66 | to | $13.63 | $17002 | 1.83% | 0.60% | to | 2.15% | 11.73% | to | 13.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Bond Fund | 570 | 9.90 | to | 10.62 | 5772 | 3.37% | 0.60% | to | 1.67% | 5.54% | to | 6.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Touchstone VST Common Stock Fund | 1114 | 22.74 | to | 24.39 | 25829 | 0.32% | 0.60% | to | 1.67% | 15.68% | to | 16.94% |
| **Non-Affiliated Initial Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 32 | 36.81 | to | 38.13 | 1523 | 1.69% | 1.10% | to | 1.35% | 13.65% | to | 13.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 25 | 16.73 | to | 20.48 | 1237 | 1.56% | 0.60% | to | 1.67% | 18.38% | to | 19.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 68 | 53.55 | to | 55.47 | 8593 | 1.77% | 1.10% | to | 1.35% | 17.41% | to | 17.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 22 |  |  | 430.21 | 9457 | 0.29% |  |  | 1.35% |  |  | 13.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 7 |  |  | 36.83 | 273 | 6.28% |  |  | 1.35% |  |  | 8.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 27 |  |  | 85.54 | 2340 | 2.39% |  |  | 1.35% |  |  | 13.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 101 | 120.73 | to | 125.04 | 18803 | 0.14% | 1.10% | to | 1.35% | 19.84% | to | 20.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | 75 | 56.77 | to | 52.09 | 6445 | 1.15% | 1.10% | to | 1.45% | 16.07% | to | 16.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 52 | 13.87 | to | 16.97 | 1259 | 3.37% | 0.60% | to | 1.67% | 5.43% | to | 6.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Government Money Market | 931 | 10.04 | to | 11.46 | 9765 | 4.06% | 0.60% | to | 3.20% | 0.80% |  | 3.51% |
| **Non-Affiliated Service Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 10 |  |  | 42.60 | 446 | 1.76% |  |  | 1.45% |  |  | 17.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 10 | 67.38 | to | 70.99 | 653 | 0.19% | 1.10% | to | 1.45% | 13.12% | to | 13.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 1 |  |  | 20.08 | 10 | 3.56% |  |  | 1.45% |  |  | 8.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 13 |  |  | 87.56 | 1146 | 0.05% |  |  | 1.45% |  |  | 19.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 5 |  |  | 42.09 | 191 | 1.67% |  |  | 1.45% |  |  | 13.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | 18 | 125.41 | to | 125.36 | 2212 | 0.35% | 1.10% | to | 1.45% | 10.04% | to | 10.43% |
| **Non-Affiliated Service Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Asset Manager 50% Portfolio (a) | 56 | 26.15 | to | 31.30 | 1413 | 2.37% | 0.60% | to | 1.67% | 12.73% | to | 13.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Balanced Portfolio | 224 | 42.23 | to | 50.83 | 8799 | 1.60% | 0.60% | to | 1.67% | 13.04% | to | 14.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Bond Index Portfolio | 1008 | 9.51 | to | 9.86 | 9806 | 3.14% | 1.00% | to | 1.55% | 5.11% | to | 5.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Contrafund® Portfolio | 597 | 86.73 | to | 96.92 | 36806 | —% | 0.60% | to | 1.67% | 19.17% | to | 20.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Disciplined Small Cap Portfolio | 88 | 29.48 | to | 36.08 | 2784 | 0.74% | 0.60% | to | 1.67% | 15.14% | to | 16.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Equity-Income Portfolio | 130 | 43.65 | to | 48.11 | 4314 | 1.67% | 0.60% | to | 1.67% | 16.76% | to | 18.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Extended Market Index Portfolio | 2 | 16.21 | to | 16.81 | 30 | 1.02% | 1.00% | to | 1.55% | 10.30% | to | 10.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2010 Portfolio | 7 | 17.47 | to | 21.39 | 128 | 2.27% | 0.60% | to | 1.67% | 8.42% | to | 9.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2015 Portfolio | 25 | 18.87 | to | 23.10 | 499 | 2.69% | 0.60% | to | 1.67% | 9.79% | to | 10.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2020 Portfolio | 149 | 19.94 | to | 24.41 | 3059 | 2.48% | 0.60% | to | 1.67% | 11.11% | to | 12.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2025 Portfolio | 174 | 21.96 | to | 26.88 | 4006 | 2.01% | 0.60% | to | 1.67% | 12.33% | to | 13.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Freedom 2030 Portfolio | 36 | 23.01 | to | 28.16 | 864 | 1.93% | 0.60% | to | 1.67% | 13.24% | to | 14.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Growth Portfolio | 309 | 83.89 | to | 92.49 | 21516 | 0.05% | 0.60% | to | 1.67% | 12.70% | to | 13.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP High Income Portfolio | 157 | 23.40 | to | 27.27 | 3756 | 6.40% | 0.60% | to | 1.67% | 8.47% | to | 9.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Index 500 Portfolio | 998 | 66.55 | to | 55.29 | 47787 | 0.92% | 0.60% | to | 1.67% | 15.52% | to | 16.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP International Index Portfolio | 179 | 15.52 | to | 16.09 | 2844 | 2.61% | 1.00% | to | 1.55% | 30.77% | to | 31.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Investment Grade Bond Portfolio | 1510 | 14.08 | to | 17.63 | 21522 | 3.33% | 0.60% | to | 1.67% | 5.14% | to | 6.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Mid Cap Portfolio | 158 | 67.29 | to | 69.49 | 7164 | 0.25% | 0.60% | to | 1.67% | 9.63% | to | 10.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Overseas Portfolio | 106 | 32.21 | to | 32.35 | 2237 | 1.40% | 0.60% | to | 1.67% | 18.05% | to | 19.33% |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1. | 29 |
| (b) New Underlying Fund. See Note 1, if applicable. | 29 |
| -\*Less than 500. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2025**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Non-Affiliated Service Class 2 (continued):** | | | | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Target Volatility Portfolio | 277 | $17.23 | to | $18.54 | $4829 | 21.90% | 1.00% | to | 1.60% | 9.13% | to | 9.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity VIP Total Market Index Portfolio | 188 | 21.54 | to | 22.33 | 4148 | 0.92% | 1.00% | to | 1.55% | 15.05% | to | 15.69% |
| **Non-Affiliated Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Select Mid Cap Value Fund | 71 | 30.84 | to | 34.07 | 2275 | —% | 1.00% | to | 1.67% | 12.28% | to | 13.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | 19 | 52.54 | to | 54.42 | 1021 | 2.27% | 1.10% | to | 1.35% | 15.40% | to | 15.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 68 | 39.00 | to | 40.39 | 2666 | 5.18% | 1.10% | to | 1.35% | 11.35% | to | 11.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;LVIP JPMorgan Mid Cap Value Fund | 6 | 52.23 | to | 58.49 | 340 | 1.08% | 1.00% | to | 1.67% | 2.97% | to | 3.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 7 | 29.30 | to | 33.49 | 223 | 14.78% | 1.00% | to | 1.55% | 13.54% | to | 14.18% |
| **Non-Affiliated Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Managed Risk Asset Allocation Fund | 408 | 17.21 | to | 18.52 | 7117 | 2.61% | 1.00% | to | 1.60% | 9.89% | to | 10.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;Columbia VP – Small Cap Value Fund | 49 | 47.15 | to | 52.79 | 2408 | 0.95% | 1.00% | to | 1.67% | 12.75% | to | 13.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth and Income VIP Fund | 180 | 44.67 | to | 49.33 | 7141 | 2.21% | 0.60% | to | 1.67% | 14.95% | to | 16.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income VIP Fund | 469 | 30.46 | to | 34.05 | 11400 | 5.41% | 0.60% | to | 1.67% | 10.68% | to | 11.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Large Cap Growth VIP Fund | 116 | 51.98 | to | 59.60 | 5319 | —% | 0.60% | to | 1.67% | 5.43% | to | 6.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Mutual Shares VIP Fund | 758 | 31.59 | to | 35.65 | 17520 | 1.99% | 0.60% | to | 1.67% | 9.66% | to | 10.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Value VIP Fund | 77 | 26.77 | to | 32.76 | 2142 | 1.10% | 0.60% | to | 1.67% | 5.86% | to | 7.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Franchise Fund | 50 | 66.46 | to | 77.84 | 2942 | —% | 0.60% | to | 1.67% | 9.53% | to | 10.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. American Value Fund | 310 | 37.92 | to | 42.75 | 12539 | 0.21% | 1.00% | to | 1.67% | 18.74% | to | 19.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Comstock Fund | 272 | 50.17 | to | 55.52 | 9883 | 1.39% | 0.60% | to | 1.67% | 15.19% | to | 16.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. EQV International Equity Fund | 217 | 15.95 | to | 17.44 | 3618 | 1.16% | 1.00% | to | 1.60% | 14.37% | to | 15.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco V.I. Discovery Mid Cap Growth Fund | 170 | 16.38 | to | 16.90 | 2816 | —% | 1.00% | to | 1.55% | 2.91% | to | 3.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Foreign VIP Fund | 485 | 24.85 | to | 26.23 | 7779 | 2.32% | 0.60% | to | 1.67% | 27.04% | to | 28.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond VIP Fund | 179 | 7.69 | to | 8.31 | 1399 | —% | 1.00% | to | 1.60% | 13.88% | to | 14.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Growth VIP Fund | 84 | 26.95 | to | 28.96 | 1938 | 0.89% | 0.60% | to | 1.67% | 21.76% | to | 23.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Debt Portfolio | 35 | 24.13 | to | 27.21 | 647 | 14.65% | 0.60% | to | 1.67% | 13.31% | to | 14.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley VIF Emerging Markets Equity Portfolio | 88 | 39.98 | to | 39.40 | 1660 | 0.35% | 0.60% | to | 1.67% | 30.68% | to | 32.10% |
| **Non-Affiliated Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Capital Appreciation V.I. Fund | 215 | 49.01 | to | 53.59 | 10955 | —% | 1.00% | to | 1.60% | 9.99% | to | 10.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Global Allocation V.I. Fund | 88 | 18.33 | to | 20.04 | 1686 | 3.88% | 1.00% | to | 1.60% | 17.60% | to | 18.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock High Yield V.I. Fund | 62 | 14.73 | to | 15.55 | 942 | 6.52% | 1.00% | to | 1.55% | 7.39% | to | 7.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock Total Return V.I. Fund | 152 | 10.04 | to | 10.59 | 1526 | 4.07% | 1.00% | to | 1.55% | 5.94% | to | 6.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;TOPS® Managed Risk Moderate Growth ETF Portfolio | 133 | 14.32 | to | 15.47 | 1954 | 2.60% | 1.00% | to | 1.60% | 8.47% | to | 9.13% |
| **Non-Affiliated Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. The Bond Fund of America | 297 | 10.23 | to | 10.79 | 3105 | 4.05% | 1.00% | to | 1.55% | 5.32% | to | 5.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Capital Income Builder Fund | 92 | 16.14 | to | 17.13 | 1504 | 2.72% | 1.00% | to | 1.55% | 18.29% | to | 18.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Global Growth Fund | 316 | 28.90 | to | 31.10 | 9257 | 1.16% | 1.00% | to | 1.60% | 19.40% | to | 20.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth Fund | 372 | 50.48 | to | 54.31 | 19230 | 0.13% | 1.00% | to | 1.60% | 18.01% | to | 18.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. Growth-Income Fund | 478 | 34.49 | to | 37.11 | 16727 | 0.71% | 1.00% | to | 1.60% | 15.89% | to | 16.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Funds I.S. New World Fund | 152 | 17.82 | to | 19.18 | 2832 | 0.89% | 1.00% | to | 1.60% | 25.88% | to | 26.65% |
| **Non-Affiliated Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | 7 | 46.12 | to | 50.20 | 353 | 1.39% | 1.10% | to | 1.45% | 11.00% | to | 11.40% |
| **Non-Affiliated Class B:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DWS Small Cap Index VIP Fund | 71 | 42.18 | to | 44.02 | 2244 | 1.05% | 0.60% | to | 1.67% | 10.49% | to | 11.69% |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1. | 30 |
| (b) New Underlying Fund. See Note 1, if applicable. | 30 |
| -\*Less than 500. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2025**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Advisor Class:** | | | | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT All Asset Portfolio | 19 | $17.25 | to | $19.45 | $345 | 4.46% | 1.00% | to | 1.67% | 12.29% | to | 13.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT International Bond Portfolio (US Dollar Hedged) | 1 | 11.02 | to | 11.63 | 13 | 3.40% | 1.00% | to | 1.55% | 2.23% | to | 2.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT CommodityRealReturn® Strategy Portfolio | 178 | 5.87 | to | 6.61 | 1101 | 2.66% | 1.00% | to | 1.67% | 16.68% | to | 17.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Long-Term U.S. Government Portfolio | 19 | 8.42 | to | 9.10 | 168 | 3.18% | 1.00% | to | 1.60% | 4.49% | to | 5.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Low Duration Portfolio | 456 | 11.01 | to | 12.41 | 5331 | 3.85% | 1.00% | to | 1.67% | 3.66% | to | 4.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Real Return Portfolio | 39 | 12.76 | to | 14.39 | 514 | 3.22% | 1.00% | to | 1.67% | 5.94% | to | 6.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;PIMCO VIT Total Return Portfolio | 2576 | 13.39 | to | 15.10 | 37029 | 4.00% | 1.00% | to | 1.67% | 6.96% | to | 7.69% |
| **Investor Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Global Managed Futures Strategy Fund | 21 | 6.89 | to | 7.74 | 149 | 1.84% | 1.00% | to | 1.67% | 1.92% | to | 2.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guggenheim VT Multi-Hedge Strategies Fund | 18 | 8.58 | to | 9.67 | 165 | 2.30% | 1.00% | to | 1.67% | (0.45)% | to | 0.23% |
| **ETF Shares:** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P 500 ETF | 783 | 37.59 | to | 138.48 | 74948 | 1.26% | 1.75% | to | 3.20% | 14.08% | to | 15.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Mid-Cap ETF | 328 | 28.14 | to | 87.00 | 21524 | 1.40% | 1.75% | to | 3.20% | 3.98% | to | 5.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core S&P Small-Cap ETF | 193 | 24.67 | to | 82.69 | 11566 | 1.51% | 1.75% | to | 3.20% | 2.50% | to | 4.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® Core U.S. Aggregate Bond ETF | 52 | 21.68 | to | 27.21 | 1178 | 3.90% | 1.75% | to | 3.20% | 3.76% | to | 5.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® iBoxx $ High Yield Corporate Bond ETF | 22 | 25.63 | to | 39.84 | 749 | 5.76% | 1.75% | to | 3.20% | 5.12% | to | 6.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® 5-10 Year Investment Grade Corporate Bond ETF | 40 | 23.13 | to | 31.71 | 1036 | 4.63% | 1.75% | to | 3.20% | 6.07% | to | 7.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® International Treasury Bond ETF | 608 | 17.31 | to | 18.23 | 9991 | 1.35% | 1.75% | to | 3.20% | 6.44% | to | 8.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Growth ETF | 82 | 40.23 | to | 173.11 | 9601 | 0.45% | 1.75% | to | 3.20% | 18.05% | to | 19.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® S&P 500 Value ETF | 38 | 33.23 | to | 96.09 | 3015 | 1.71% | 1.75% | to | 3.20% | 9.40% | to | 11.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares® TIPS Bond ETF | 7 | 22.38 | to | 28.55 | 157 | 3.45% | 1.75% | to | 3.20% | 3.35% | to | 4.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Developed Markets Index Fund, ETF Shares | 226 | 29.91 | to | 53.03 | 11031 | 3.38% | 1.75% | to | 3.20% | 30.84% | to | 32.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Dividend Appreciation Index Fund, ETF Shares | 31 | 33.34 | to | 108.14 | 2090 | 1.71% | 1.75% | to | 3.20% | 10.51% | to | 12.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Emerging Markets Stock Index Fund, ETF Shares | 11 | 24.92 | to | 33.57 | 362 | 2.71% | 1.75% | to | 3.20% | 21.55% | to | 23.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares | 6 | 22.94 | to | 34.91 | 191 | 4.69% | 1.75% | to | 3.20% | 5.83% | to | 7.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Large-Cap Index Fund, ETF Shares | 19 | 37.07 | to | 136.83 | 1976 | 1.18% | 1.75% | to | 3.20% | 14.33% | to | 16.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Mega Cap Index Fund, ETF Shares | 3 | 38.96 | to | 147.28 | 267 | 1.03% | 1.75% | to | 3.20% | 15.50% | to | 17.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Real Estate Index Fund, ETF Shares | 16 | 22.27 | to | 55.70 | 687 | 3.82% | 1.75% | to | 3.20% | —% | to | 1.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Short-Term Bond Index Fund, ETF Shares | 10 | 23.30 | to | 25.09 | 212 | 3.85% | 1.75% | to | 3.20% | 2.60% | to | 4.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vanguard® Total Bond Market Index Fund, ETF Shares | 3165 | 21.66 | to | 27.30 | 72865 | 3.88% | 1.75% | to | 3.20% | 3.66% | to | 5.21% |

---

---

| | |
|:---|:---|
| (a) Name Change. See Note 1. | 31 |
| (b) New Underlying Fund. See Note 1, if applicable. | 31 |
| -\*Less than 500. | |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2024**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Affiliated:** | | | | | | | | | | | | |
| Touchstone VST Balanced Fund | 1505 | $11.33 | to | $12.01 | $17588 | 1.74% | 0.60% | to | 2.15% | 11.16% | to | 12.93% |
| Touchstone VST Bond Fund | 730 | 9.38 | to | 9.96 | 6966 | 4.02% | 0.60% | to | 1.67% | 0.25% | to | 1.34% |
| Touchstone VST Common Stock Fund | 1360 | 19.66 | to | 20.86 | 27198 | 0.42% | 0.60% | to | 1.67% | 19.23% | to | 20.53% |
| **Non-Affiliated Initial Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Balanced Portfolio | 41 | 32.39 | to | 33.47 | 1784 | 1.78% | 1.10% | to | 1.35% | 14.35% | to | 14.64% |
| Fidelity VIP Overseas Portfolio | 29 | 14.13 | to | 17.11 | 1214 | 1.56% | 0.60% | to | 1.67% | 3.29% | to | 4.42% |
| Fidelity VIP Equity-Income Portfolio | 75 | 45.61 | to | 47.12 | 8190 | 1.73% | 1.10% | to | 1.35% | 13.78% | to | 14.07% |
| Fidelity VIP Growth Portfolio | 26 |  |  | 379.55 | 9700 | —% |  |  | 1.35% |  |  | 28.62% |
| Fidelity VIP High Income Portfolio | 9 |  |  | 33.83 | 304 | 5.92% |  |  | 1.35% |  |  | 7.49% |
| Fidelity VIP Asset Manager Portfolio | 32 |  |  | 75.41 | 2403 | 2.30% |  |  | 1.35% |  |  | 7.02% |
| Fidelity VIP Contrafund® Portfolio | 109 | 100.74 | to | 104.07 | 17047 | 0.19% | 1.10% | to | 1.35% | 31.98% | to | 32.31% |
| Fidelity VIP Index 500 Portfolio | 83 | 48.91 | to | 44.72 | 6116 | 1.27% | 1.10% | to | 1.45% | 23.08% | to | 23.52% |
| Fidelity VIP Investment Grade Bond Portfolio | 64 | 13.15 | to | 15.93 | 1467 | 3.39% | 0.60% | to | 1.67% | 0.08% | to | 1.18% |
| Fidelity VIP Government Money Market | 1053 | 9.96 | to | 11.08 | 10785 | 4.97% | 0.60% | to | 3.20% | 1.72% |  | 4.47% |
| **Non-Affiliated Service Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Equity-Income Portfolio | 10 |  |  | 36.35 | 382 | 2.88% |  |  | 1.45% |  |  | 13.57% |
| Fidelity VIP Growth Portfolio | 12 | 59.57 | to | 62.54 | 701 | —% | 1.10% | to | 1.45% | 28.37% | to | 28.83% |
| Fidelity VIP High Income Portfolio | 1 |  |  | 18.47 | 23 | 4.70% |  |  | 1.45% |  |  | 7.14% |
| Fidelity VIP Asset Manager Portfolio | -\* |  |  | 23.18 | 3 | 2.39% |  |  | 1.45% |  |  | 6.76% |
| Fidelity VIP Contrafund® Portfolio | 14 |  |  | 73.20 | 1035 | 0.09% |  |  | 1.45% |  |  | 31.69% |
| Fidelity VIP Balanced Portfolio | 5 |  |  | 37.09 | 174 | 1.79% |  |  | 1.45% |  |  | 14.09% |
| Fidelity VIP Mid Cap Portfolio | 21 | 113.97 | to | 113.51 | 2354 | 0.44% | 1.10% | to | 1.45% | 15.64% | to | 16.06% |
| **Non-Affiliated Service Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Asset Manager Portfolio | 64 | 23.20 | to | 27.47 | 1431 | 2.24% | 0.60% | to | 1.67% | 6.42% | to | 7.58% |
| Fidelity VIP Balanced Portfolio | 228 | 37.36 | to | 44.49 | 8008 | 1.68% | 0.60% | to | 1.67% | 13.69% | to | 14.93% |
| Fidelity VIP Bond Index Portfolio | 1079 | 9.05 | to | 9.33 | 9953 | 2.70% | 1.00% | to | 1.55% | (0.57)% | to | (0.02)% |
| Fidelity VIP Contrafund® Portfolio | 648 | 72.78 | to | 80.46 | 33602 | 0.03% | 0.60% | to | 1.67% | 31.21% | to | 32.64% |
| Fidelity VIP Disciplined Small Cap Portfolio | 94 | 25.60 | to | 31.00 | 2568 | 0.81% | 0.60% | to | 1.67% | 14.62% | to | 15.87% |
| Fidelity VIP Equity-Income Portfolio | 139 | 37.38 | to | 40.76 | 3930 | 1.53% | 0.60% | to | 1.67% | 13.13% | to | 14.36% |
| Fidelity VIP Extended Market Index Portfolio | 2 | 14.70 | to | 15.15 | 26 | 1.11% | 1.00% | to | 1.55% | 10.28% | to | 10.90% |
| Fidelity VIP Freedom 2010 Portfolio | 12 | 16.12 | to | 19.51 | 194 | 2.84% | 0.60% | to | 1.67% | 3.39% | to | 4.52% |
| Fidelity VIP Freedom 2015 Portfolio | 29 | 17.19 | to | 20.81 | 513 | 2.96% | 0.60% | to | 1.67% | 4.43% | to | 5.57% |
| Fidelity VIP Freedom 2020 Portfolio | 171 | 17.95 | to | 21.73 | 3153 | 2.57% | 0.60% | to | 1.67% | 5.60% | to | 6.76% |
| Fidelity VIP Freedom 2025 Portfolio | 253 | 19.55 | to | 23.68 | 5187 | 2.19% | 0.60% | to | 1.67% | 6.47% | to | 7.63% |
| Fidelity VIP Freedom 2030 Portfolio | 50 | 20.32 | to | 24.60 | 1042 | 2.00% | 0.60% | to | 1.67% | 7.30% | to | 8.48% |
| Fidelity VIP Growth Portfolio | 332 | 74.44 | to | 81.19 | 20512 | —% | 0.60% | to | 1.67% | 27.89% | to | 29.29% |
| Fidelity VIP High Income Portfolio | 190 | 21.57 | to | 24.87 | 4119 | 5.82% | 0.60% | to | 1.67% | 6.79% | to | 7.96% |
| Fidelity VIP Index 500 Portfolio | 1107 | 57.61 | to | 47.34 | 45530 | 1.06% | 0.60% | to | 1.67% | 22.50% | to | 23.84% |
| Fidelity VIP International Index Portfolio | 208 | 11.87 | to | 12.24 | 2513 | 2.77% | 1.00% | to | 1.55% | 3.19% | to | 3.77% |
| Fidelity VIP Investment Grade Bond Portfolio | 1743 | 13.39 | to | 16.58 | 23537 | 3.24% | 0.60% | to | 1.67% | (0.21)% | to | 0.89% |
| Fidelity VIP Mid Cap Portfolio | 170 | 61.38 | to | 62.71 | 6954 | 0.33% | 0.60% | to | 1.67% | 15.21% | to | 16.47% |
| Fidelity VIP Overseas Portfolio | 109 | 27.29 | to | 27.11 | 1904 | 1.33% | 0.60% | to | 1.67% | 3.05% | to | 4.17% |

---

-\*Less than 500. 32

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

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2024**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Non-Affiliated Service Class 2 (continued):** | | | | | | | | | | | | |
| Fidelity VIP Target Volatility Portfolio | 283 | $15.79 | to | $16.88 | $4518 | 1.76% | 1.00% | to | 1.60% | 8.04% | to | 8.70% |
| Fidelity VIP Total Market Index Portfolio | 207 | 18.72 | to | 19.30 | 3943 | 1.11% | 1.00% | to | 1.55% | 21.46% | to | 22.14% |
| **Non-Affiliated Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Columbia VP – Select Mid Cap Value Fund | 72 | 27.47 | to | 30.14 | 2048 | —% | 1.00% | to | 1.67% | 10.65% | to | 11.41% |
| Franklin Growth and Income VIP Fund | 25 | 45.53 | to | 47.03 | 1156 | 2.35% | 1.10% | to | 1.35% | 16.89% | to | 17.18% |
| Franklin Income VIP Fund | 80 | 35.02 | to | 36.18 | 2807 | 5.21% | 1.10% | to | 1.35% | 6.00% | to | 6.27% |
| LVIP JPMorgan Mid Cap Value Fund | 7 | 50.72 | to | 56.42 | 379 | 1.08% | 1.00% | to | 1.67% | 12.37% | to | 13.14% |
| Morgan Stanley VIF Emerging Markets Debt Portfolio | 8 | 25.80 | to | 29.33 | 209 | 10.21% | 1.00% | to | 1.55% | 9.50% | to | 10.11% |
| **Non-Affiliated Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| American Funds I.S. Managed Risk Asset Allocation Fund | 459 | 15.67 | to | 16.75 | 7283 | 1.93% | 1.00% | to | 1.60% | 12.78% | to | 13.47% |
| Columbia VP – Small Cap Value Fund | 59 | 41.81 | to | 46.51 | 2559 | 0.54% | 1.00% | to | 1.67% | 6.85% | to | 7.58% |
| Franklin Growth and Income VIP Fund | 210 | 38.86 | to | 42.45 | 7210 | 2.26% | 0.60% | to | 1.67% | 16.01% | to | 17.28% |
| Franklin Income VIP Fund | 713 | 27.52 | to | 30.43 | 15789 | 5.11% | 0.60% | to | 1.67% | 5.40% | to | 6.56% |
| Franklin Large Cap Growth VIP Fund | 127 | 49.30 | to | 55.92 | 5538 | —% | 0.60% | to | 1.67% | 24.18% | to | 25.53% |
| Franklin Mutual Shares VIP Fund | 880 | 28.81 | to | 32.16 | 18512 | 1.93% | 0.60% | to | 1.67% | 9.40% | to | 10.60% |
| Franklin Small Cap Value VIP Fund | 83 | 25.29 | to | 30.62 | 2186 | 0.94% | 0.60% | to | 1.67% | 9.83% | to | 11.03% |
| Invesco V.I. American Franchise Fund | 52 | 60.68 | to | 70.30 | 2757 | —% | 0.60% | to | 1.67% | 32.30% | to | 33.75% |
| Invesco V.I. American Value Fund | 362 | 31.93 | to | 35.76 | 12295 | 0.72% | 1.00% | to | 1.67% | 27.91% | to | 28.79% |
| Invesco V.I. Comstock Fund | 326 | 43.56 | to | 47.68 | 10173 | 1.43% | 0.60% | to | 1.67% | 12.94% | to | 14.18% |
| Invesco V.I. EQV International Equity Fund | 257 | 13.95 | to | 15.16 | 3729 | 1.49% | 1.00% | to | 1.60% | (1.27)% | to | (0.66)% |
| Invesco V.I. Discovery Mid Cap Growth Fund | 163 | 15.91 | to | 16.33 | 2625 | —% | 1.00% | to | 1.55% | 21.99% | to | 22.68% |
| Templeton Foreign VIP Fund | 609 | 19.56 | to | 20.42 | 7575 | 2.35% | 0.60% | to | 1.67% | (2.66)% | to | (1.59)% |
| Templeton Global Bond VIP Fund | 206 | 6.75 | to | 7.25 | 1407 | —% | 1.00% | to | 1.60% | (12.80)% | to | (12.26)% |
| Templeton Growth VIP Fund | 103 | 22.13 | to | 23.53 | 2041 | 0.93% | 0.60% | to | 1.67% | 3.63% | to | 4.77% |
| Morgan Stanley VIF Emerging Markets Debt Portfolio | 37 | 21.30 | to | 23.76 | 589 | 10.18% | 0.60% | to | 1.67% | 9.41% | to | 10.61% |
| Morgan Stanley VIF Emerging Markets Equity Portfolio | 102 | 30.59 | to | 29.83 | 1436 | 1.34% | 0.60% | to | 1.67% | 5.91% | to | 7.07% |
| **Non-Affiliated Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| BlackRock Capital Appreciation V.I. Fund | 256 | 44.56 | to | 48.43 | 11800 | —% | 1.00% | to | 1.60% | 29.81% | to | 30.61% |
| BlackRock Global Allocation V.I. Fund | 101 | 15.59 | to | 16.94 | 1642 | 1.46% | 1.00% | to | 1.60% | 7.17% | to | 7.83% |
| BlackRock High Yield V.I. Fund | 68 | 13.72 | to | 14.40 | 963 | 6.65% | 1.00% | to | 1.55% | 6.18% | to | 6.77% |
| BlackRock Total Return V.I. Fund | 177 | 9.48 | to | 9.95 | 1685 | 4.14% | 1.00% | to | 1.55% | (0.44)% | to | 0.12% |
| TOPS® Managed Risk Moderate Growth ETF Portfolio | 150 | 13.20 | to | 14.17 | 2033 | 2.49% | 1.00% | to | 1.60% | 5.85% | to | 6.50% |
| **Non-Affiliated Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |
| American Funds I.S. The Bond Fund of America | 348 | 9.71 | to | 10.19 | 3450 | 4.54% | 1.00% | to | 1.55% | (0.60)% | to | (0.04)% |
| American Funds I.S. Capital Income Builder Fund | 99 | 13.64 | to | 14.40 | 1371 | 3.09% | 1.00% | to | 1.55% | 8.22% | to | 8.83% |
| American Funds I.S. Global Growth Fund | 380 | 24.21 | to | 25.89 | 9322 | 1.37% | 1.00% | to | 1.60% | 11.56% | to | 12.25% |
| American Funds I.S. Growth Fund | 392 | 42.78 | to | 45.75 | 17147 | 0.16% | 1.00% | to | 1.60% | 29.18% | to | 29.98% |
| American Funds I.S. Growth-Income Fund | 547 | 29.76 | to | 31.83 | 16490 | 0.92% | 1.00% | to | 1.60% | 21.93% | to | 22.67% |
| American Funds I.S. New World Fund | 177 | 14.16 | to | 15.14 | 2606 | 1.15% | 1.00% | to | 1.60% | 4.62% | to | 5.26% |
| **Non-Affiliated Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| DWS Small Cap Index VIP Fund | 8 | 41.55 | to | 45.06 | 370 | 1.18% | 1.10% | to | 1.45% | 9.53% | to | 9.92% |
| **Non-Affiliated Class B:** |  |  |  |  |  |  |  |  |  |  |  |  |
| DWS Small Cap Index VIP Fund | 72 | 38.18 | to | 39.41 | 2041 | 0.87% | 0.60% | to | 1.67% | 9.03% | to | 10.22% |

---

-\*Less than 500. 33

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

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2024**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Advisor Class:** | | | | | | | | | | | | |
| PIMCO VIT All Asset Portfolio | 27 | $15.36 | to | $17.20 | $433 | 6.34% | 1.00% | to | 1.67% | 1.84% | to | 2.53% |
| PIMCO VIT International Bond Portfolio (US Dollar Hedged) | 1 | 10.78 | to | 11.31 | 16 | 3.26% | 1.00% | to | 1.55% | 3.72% | to | 4.30% |
| PIMCO VIT CommodityRealReturn® Strategy Portfolio | 238 | 5.03 | to | 5.63 | 1253 | 2.01% | 1.00% | to | 1.67% | 2.22% | to | 2.92% |
| PIMCO VIT Long-Term U.S. Government Portfolio | 20 | 8.06 | to | 8.65 | 165 | 2.62% | 1.00% | to | 1.60% | (7.62)% | to | (7.05)% |
| PIMCO VIT Low Duration Portfolio | 489 | 10.62 | to | 11.90 | 5484 | 3.89% | 1.00% | to | 1.67% | 2.64% | to | 3.34% |
| PIMCO VIT Real Return Portfolio | 41 | 12.05 | to | 13.49 | 507 | 2.56% | 1.00% | to | 1.67% | 0.32% | to | 1.00% |
| PIMCO VIT Total Return Portfolio | 2918 | 12.52 | to | 14.02 | 39044 | 3.94% | 1.00% | to | 1.67% | 0.71% | to | 1.40% |
| **Investor Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Guggenheim VT Global Managed Futures Strategy Fund | 27 | 6.76 | to | 7.54 | 185 | 2.67% | 1.00% | to | 1.67% | (1.32)% | to | (0.64)% |
| Guggenheim VT Multi-Hedge Strategies Fund | 18 | 8.62 | to | 9.65 | 167 | 4.76% | 1.00% | to | 1.67% | (5.28)% | to | (4.63)% |
| **ETF Shares:** |  |  |  |  |  |  |  |  |  |  |  |  |
| iShares® Core S&P 500 ETF | 941 | 32.95 | to | 119.60 | 81001 | 1.37% | 1.75% | to | 3.20% | 20.93% | to | 22.75% |
| iShares® Core S&P Mid-Cap ETF | 356 | 27.06 | to | 82.43 | 22945 | 1.34% | 1.75% | to | 3.20% | 10.28% | to | 11.94% |
| iShares® Core S&P Small-Cap ETF | 205 | 24.07 | to | 79.49 | 12294 | 2.03% | 1.75% | to | 3.20% | 5.19% | to | 6.78% |
| iShares® Core U.S. Aggregate Bond ETF | 70 | 20.90 | to | 25.84 | 1510 | 3.71% | 1.75% | to | 3.20% | (1.96)% | to | (0.48)% |
| iShares® iBoxx $ High Yield Corporate Bond ETF | 23 | 24.39 | to | 37.34 | 754 | 6.02% | 1.75% | to | 3.20% | 4.49% | to | 6.06% |
| iShares® 5-10 Year Investment Grade Corporate Bond ETF | 48 | 21.81 | to | 29.45 | 1180 | 4.38% | 1.75% | to | 3.20% | 0.15% | to | 1.66% |
| iShares® International Treasury Bond ETF | 690 | 16.26 | to | 16.87 | 10564 | 0.56% | 1.75% | to | 3.20% | (9.51)% | to | (8.14)% |
| iShares® S&P 500 Growth ETF | 93 | 34.08 | to | 144.48 | 9322 | 0.47% | 1.75% | to | 3.20% | 31.45% | to | 33.43% |
| iShares® S&P 500 Value ETF | 43 | 30.37 | to | 86.54 | 3104 | 2.03% | 1.75% | to | 3.20% | 8.45% | to | 10.09% |
| iShares® TIPS Bond ETF | 7 | 21.65 | to | 27.22 | 143 | 2.62% | 1.75% | to | 3.20% | (1.63)% | to | (0.15)% |
| Vanguard® Developed Markets Index Fund, ETF Shares | 295 | 22.86 | to | 39.93 | 10996 | 3.17% | 1.75% | to | 3.20% | (0.18)% | to | 1.33% |
| Vanguard® Dividend Appreciation Index Fund, ETF Shares | 35 | 30.17 | to | 96.41 | 2216 | 1.78% | 1.75% | to | 3.20% | 13.23% | to | 14.93% |
| Vanguard® Emerging Markets Stock Index Fund, ETF Shares | 14 | 20.51 | to | 27.21 | 371 | 2.97% | 1.75% | to | 3.20% | 7.06% | to | 8.67% |
| Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares | 6 | 21.68 | to | 32.50 | 182 | 4.39% | 1.75% | to | 3.20% | (0.13)% | to | 1.37% |
| Vanguard® Large-Cap Index Fund, ETF Shares | 22 | 32.42 | to | 117.91 | 2038 | 1.32% | 1.75% | to | 3.20% | 21.22% | to | 23.05% |
| Vanguard® Mega Cap Index Fund, ETF Shares | 4 | 33.73 | to | 125.63 | 298 | 1.28% | 1.75% | to | 3.20% | 23.07% | to | 24.92% |
| Vanguard® Real Estate Index Fund, ETF Shares | 20 | 22.27 | to | 54.88 | 870 | 3.83% | 1.75% | to | 3.20% | 1.45% | to | 2.98% |
| Vanguard® Short-Term Bond Index Fund, ETF Shares | 11 | 22.71 | to | 24.09 | 230 | 3.35% | 1.75% | to | 3.20% | 0.44% | to | 1.95% |
| Vanguard® Total Bond Market Index Fund, ETF Shares | 3574 | 20.90 | to | 25.94 | 78969 | 3.61% | 1.75% | to | 3.20% | (1.89)% | to | (0.41)% |

---

-\*Less than 500. 34

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

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2023**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Affiliated:** | | | | | | | | | | | | |
| Touchstone VST Balanced Fund | 1737 | $10.19 | to | $10.63 | $18108 | 1.07% | 0.60% | to | 2.15% | 16.03% | to | 17.86% |
| Touchstone VST Bond Fund | 981 | 9.36 | to | 9.82 | 9285 | 4.67% | 0.60% | to | 1.67% | 3.94% | to | 5.07% |
| Touchstone VST Common Stock Fund | 1592 | 16.49 | to | 17.31 | 26609 | 0.58% | 0.60% | to | 1.67% | 24.25% | to | 25.60% |
| **Non-Affiliated Initial Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Balanced Portfolio | 46 | 28.33 | to | 29.19 | 1739 | 1.66% | 1.10% | to | 1.35% | 19.89% | to | 20.20% |
| Fidelity VIP Overseas Portfolio | 32 | 13.68 | to | 16.39 | 1312 | 1.00% | 0.60% | to | 1.67% | 18.50% | to | 19.79% |
| Fidelity VIP Equity-Income Portfolio | 83 | 40.09 | to | 41.31 | 7960 | 1.82% | 1.10% | to | 1.35% | 9.16% | to | 9.43% |
| Fidelity VIP Growth Portfolio | 28 |  |  | 295.09 | 8303 | 0.13% |  |  | 1.35% |  |  | 34.40% |
| Fidelity VIP High Income Portfolio | 9 |  |  | 31.47 | 297 | 5.53% |  |  | 1.35% |  |  | 8.99% |
| Fidelity VIP Asset Manager Portfolio | 36 |  |  | 70.46 | 2551 | 2.34% |  |  | 1.35% |  |  | 11.42% |
| Fidelity VIP Contrafund® Portfolio | 119 | 76.33 | to | 78.66 | 14158 | 0.49% | 1.10% | to | 1.35% | 31.66% | to | 31.99% |
| Fidelity VIP Index 500 Portfolio | 95 | 39.74 | to | 36.20 | 5556 | 1.44% | 1.10% | to | 1.45% | 24.37% | to | 24.81% |
| Fidelity VIP Investment Grade Bond Portfolio | 76 | 13.14 | to | 15.74 | 1649 | 2.54% | 0.60% | to | 1.67% | 4.43% | to | 5.57% |
| Fidelity VIP Government Money Market | 856 | 9.79 | to | 10.60 | 8428 | 4.80% | 0.60% | to | 3.20% | 1.55% | to | 4.27% |
| **Non-Affiliated Service Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Equity-Income Portfolio | 6 |  |  | 32.01 | 176 | 1.76% |  |  | 1.45% |  |  | 8.94% |
| Fidelity VIP Growth Portfolio | 12 | 46.40 | to | 48.54 | 565 | 0.04% | 1.10% | to | 1.45% | 34.13% | to | 34.60% |
| Fidelity VIP High Income Portfolio | 4 |  |  | 17.24 | 74 | 5.67% |  |  | 1.45% |  |  | 8.91% |
| Fidelity VIP Asset Manager Portfolio | -\* |  |  | 21.72 | 3 | 2.07% |  |  | 1.45% |  |  | 11.27% |
| Fidelity VIP Contrafund® Portfolio | 15 |  |  | 55.59 | 851 | 0.39% |  |  | 1.45% |  |  | 31.41% |
| Fidelity VIP Balanced Portfolio | 5 |  |  | 32.51 | 160 | 1.64% |  |  | 1.45% |  |  | 19.64% |
| Fidelity VIP Mid Cap Portfolio | 25 | 98.55 | to | 97.81 | 2367 | 0.51% | 1.10% | to | 1.45% | 13.34% | to | 13.74% |
| **Non-Affiliated Service Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Asset Manager Portfolio | 71 | 21.80 | to | 25.53 | 1461 | 2.09% | 0.60% | to | 1.67% | 10.78% | to | 11.98% |
| Fidelity VIP Balanced Portfolio | 256 | 32.86 | to | 38.71 | 7894 | 1.53% | 0.60% | to | 1.67% | 19.22% | to | 20.51% |
| Fidelity VIP Bond Index Portfolio | 996 | 9.10 | to | 9.33 | 9206 | 2.31% | 1.00% | to | 1.55% | 3.50% | to | 4.08% |
| Fidelity VIP Contrafund® Portfolio | 760 | 55.47 | to | 60.66 | 29545 | 0.24% | 0.60% | to | 1.67% | 30.90% | to | 32.32% |
| Fidelity VIP Disciplined Small Cap Portfolio | 116 | 22.34 | to | 26.76 | 2761 | 0.86% | 0.60% | to | 1.67% | 18.66% | to | 19.95% |
| Fidelity VIP Equity-Income Portfolio | 163 | 33.05 | to | 35.64 | 4078 | 1.71% | 0.60% | to | 1.67% | 8.54% | to | 9.72% |
| Fidelity VIP Extended Market Index Portfolio | 2 | 13.33 | to | 13.66 | 30 | 3.27% | 1.00% | to | 1.55% | 15.30% | to | 15.94% |
| Fidelity VIP Freedom 2010 Portfolio | 16 | 15.59 | to | 18.67 | 252 | 3.72% | 0.60% | to | 1.67% | 7.27% | to | 8.43% |
| Fidelity VIP Freedom 2015 Portfolio | 32 | 16.46 | to | 19.72 | 538 | 3.36% | 0.60% | to | 1.67% | 8.80% | to | 9.98% |
| Fidelity VIP Freedom 2020 Portfolio | 200 | 16.99 | to | 20.36 | 3492 | 2.97% | 0.60% | to | 1.67% | 10.35% | to | 11.55% |
| Fidelity VIP Freedom 2025 Portfolio | 294 | 18.36 | to | 22.00 | 5638 | 2.58% | 0.60% | to | 1.67% | 11.44% | to | 12.65% |
| Fidelity VIP Freedom 2030 Portfolio | 51 | 18.93 | to | 22.68 | 1000 | 2.21% | 0.60% | to | 1.67% | 12.55% | to | 13.77% |
| Fidelity VIP Growth Portfolio | 384 | 58.20 | to | 62.79 | 18471 | —% | 0.60% | to | 1.67% | 33.63% | to | 35.08% |
| Fidelity VIP High Income Portfolio | 251 | 20.20 | to | 23.04 | 5116 | 7.70% | 0.60% | to | 1.67% | 8.40% | to | 9.58% |
| Fidelity VIP Index 500 Portfolio | 1243 | 47.03 | to | 38.23 | 41491 | 1.27% | 0.60% | to | 1.67% | 23.78% | to | 25.13% |
| Fidelity VIP International Index Portfolio | 198 | 11.50 | to | 11.79 | 2314 | 2.75% | 1.00% | to | 1.55% | 14.09% | to | 14.72% |
| Fidelity VIP Investment Grade Bond Portfolio | 1957 | 13.42 | to | 16.44 | 26347 | 2.41% | 0.60% | to | 1.67% | 4.23% | to | 5.37% |
| Fidelity VIP Mid Cap Portfolio | 196 | 53.28 | to | 53.84 | 7115 | 0.40% | 0.60% | to | 1.67% | 12.89% | to | 14.12% |
| Fidelity VIP Overseas Portfolio | 130 | 26.48 | to | 26.02 | 2214 | 0.77% | 0.60% | to | 1.67% | 18.22% | to | 19.50% |

---

---

| | |
|:---|:---|
| | 35 |
| -\*Less than 500. | 35 |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2023**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Non-Affiliated Service Class 2 (continued):** | | | | | | | | | | | | |
| Fidelity VIP Target Volatility Portfolio | 299 | $14.61 | to | $15.53 | $4406 | 2.09% | 1.00% | to | 1.60% | 12.11% | to | 12.79% |
| Fidelity VIP Total Market Index Portfolio | 231 | 15.41 | to | 15.80 | 3618 | 0.88% | 1.00% | to | 1.55% | 23.76% | to | 24.45% |
| **Non-Affiliated Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Columbia VP – Select Mid Cap Value Fund | 70 | 24.82 | to | 27.05 | 1797 | —% | 1.00% | to | 1.67% | 8.46% | to | 9.20% |
| Franklin Growth and Income VIP Fund | 28 | 38.95 | to | 40.14 | 1094 | 2.34% | 1.10% | to | 1.35% | 7.71% | to | 7.98% |
| Franklin Income VIP Fund | 88 | 33.04 | to | 34.05 | 2907 | 5.10% | 1.10% | to | 1.35% | 7.41% | to | 7.68% |
| LVIP JPMorgan Mid Cap Value Fund | 9 | 45.14 | to | 49.87 | 434 | 3.18% | 1.00% | to | 1.67% | 9.07% | to | 9.81% |
| Morgan Stanley VIF Emerging Markets Debt Portfolio | 8 | 23.56 | to | 26.64 | 199 | 8.59% | 1.00% | to | 1.55% | 10.11% | to | 10.72% |
| Morgan Stanley VIF U.S. Real Estate Portfolio | 19 | 33.70 | to | 37.56 | 759 | 1.89% | 1.00% | to | 1.55% | 12.75% | to | 13.37% |
| **Non-Affiliated Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| American Funds I.S. Managed Risk Asset Allocation Fund | 492 | 13.89 | to | 14.76 | 6905 | 1.89% | 1.00% | to | 1.60% | 8.47% | to | 9.13% |
| Columbia VP – Small Cap Value Fund | 77 | 39.13 | to | 43.23 | 3101 | 0.43% | 1.00% | to | 1.67% | 19.64% | to | 20.45% |
| Franklin Growth and Income VIP Fund | 253 | 33.50 | to | 36.20 | 7330 | 2.22% | 0.60% | to | 1.67% | 7.17% | to | 8.33% |
| Franklin Income VIP Fund | 746 | 26.11 | to | 28.56 | 15666 | 5.07% | 0.60% | to | 1.67% | 6.81% | to | 7.97% |
| Franklin Large Cap Growth VIP Fund | 149 | 39.70 | to | 44.55 | 5147 | —% | 0.60% | to | 1.67% | 38.11% | to | 39.60% |
| Franklin Mutual Shares VIP Fund | 1064 | 26.33 | to | 29.08 | 20226 | 1.86% | 0.60% | to | 1.67% | 11.57% | to | 12.78% |
| Franklin Small Cap Value VIP Fund | 80 | 23.02 | to | 27.58 | 1898 | 0.53% | 0.60% | to | 1.67% | 10.87% | to | 12.07% |
| Invesco V.I. American Franchise Fund | 61 | 45.86 | to | 52.56 | 2447 | —% | 0.60% | to | 1.67% | 38.26% | to | 39.76% |
| Invesco V.I. American Value Fund | 518 | 24.97 | to | 27.77 | 13676 | 0.39% | 1.00% | to | 1.67% | 13.37% | to | 14.14% |
| Invesco V.I. Comstock Fund | 414 | 38.57 | to | 41.76 | 11345 | 1.55% | 0.60% | to | 1.67% | 10.23% | to | 11.42% |
| Invesco V.I. EQV International Equity Fund | 293 | 14.13 | to | 15.26 | 4291 | —% | 1.00% | to | 1.60% | 15.99% | to | 16.69% |
| Invesco V.I. Discovery Mid Cap Growth Fund | 200 | 13.04 | to | 13.31 | 2628 | —% | 1.00% | to | 1.55% | 11.11% | to | 11.73% |
| Templeton Foreign VIP Fund | 680 | 20.10 | to | 20.75 | 8648 | 3.20% | 0.60% | to | 1.67% | 18.75% | to | 20.03% |
| Templeton Global Bond VIP Fund | 214 | 7.74 | to | 8.26 | 1672 | —% | 1.00% | to | 1.60% | 1.24% | to | 1.86% |
| Templeton Growth VIP Fund | 110 | 21.36 | to | 22.46 | 2130 | 3.33% | 0.60% | to | 1.67% | 19.00% | to | 20.29% |
| Morgan Stanley VIF Emerging Markets Debt Portfolio | 40 | 19.47 | to | 21.48 | 589 | 8.66% | 0.60% | to | 1.67% | 9.83% | to | 11.02% |
| Morgan Stanley VIF Emerging Markets Equity Portfolio | 107 | 28.88 | to | 27.86 | 1469 | 1.50% | 0.60% | to | 1.67% | 10.10% | to | 11.29% |
| Morgan Stanley VIF U.S. Real Estate Portfolio | 276 | 28.93 | to | 30.97 | 3580 | 1.98% | 0.60% | to | 1.67% | 12.32% | to | 13.53% |
| **Non-Affiliated Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| BlackRock Capital Appreciation V.I. Fund | 396 | 34.33 | to | 37.08 | 13958 | —% | 1.00% | to | 1.60% | 46.22% | to | 47.11% |
| BlackRock Global Allocation V.I. Fund | 104 | 14.54 | to | 15.71 | 1571 | 2.43% | 1.00% | to | 1.60% | 10.70% | to | 11.37% |
| BlackRock High Yield V.I. Fund | 69 | 12.92 | to | 13.49 | 917 | 6.32% | 1.00% | to | 1.55% | 11.18% | to | 11.80% |
| BlackRock Total Return V.I. Fund | 195 | 9.52 | to | 9.93 | 1871 | 3.56% | 1.00% | to | 1.55% | 3.79% | to | 4.37% |
| TOPS® Managed Risk Moderate Growth ETF Portfolio | 172 | 12.47 | to | 13.31 | 2187 | 0.34% | 1.00% | to | 1.60% | 8.47% | to | 9.13% |
| **Non-Affiliated Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |
| American Funds I.S. The Bond Fund of America | 256 | 9.77 | to | 10.20 | 2533 | 3.30% | 1.00% | to | 1.55% | 3.10% | to | 3.68% |
| American Funds I.S. Capital Income Builder Fund | 111 | 12.61 | to | 13.23 | 1422 | 2.66% | 1.00% | to | 1.55% | 7.07% | to | 7.67% |
| American Funds I.S. Global Growth Fund | 419 | 21.70 | to | 23.06 | 9211 | 0.70% | 1.00% | to | 1.60% | 20.34% | to | 21.07% |
| American Funds I.S. Growth Fund | 454 | 33.11 | to | 35.20 | 15327 | 0.17% | 1.00% | to | 1.60% | 35.94% | to | 36.76% |
| American Funds I.S. Growth-Income Fund | 614 | 24.41 | to | 25.95 | 15154 | 1.13% | 1.00% | to | 1.60% | 23.82% | to | 24.57% |
| American Funds I.S. New World Fund | 191 | 13.53 | to | 14.39 | 2670 | 1.22% | 1.00% | to | 1.60% | 13.82% | to | 14.52% |
| **Non-Affiliated Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| DWS Small Cap Index VIP Fund | 9 | 37.94 | to | 41.00 | 364 | 1.00% | 1.10% | to | 1.45% | 15.07% | to | 15.48% |
| **Non-Affiliated Class B:** |  |  |  |  |  |  |  |  |  |  |  |  |
| DWS Small Cap Index VIP Fund | 80 | 35.02 | to | 35.76 | 2091 | 0.75% | 0.60% | to | 1.67% | 14.39% | to | 15.63% |

---

---

| | |
|:---|:---|
| | 36 |
| -\*Less than 500. | 36 |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2023**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Advisor Class:** | | | | | | | | | | | | |
| PIMCO VIT All Asset Portfolio | 28 | $15.08 | to | $16.78 | $432 | 2.93% | 1.00% | to | 1.67% | 6.22% | to | 6.94% |
| PIMCO VIT International Bond Portfolio (US Dollar Hedged) | 4 | 10.39 | to | 10.85 | 43 | 2.48% | 1.00% | to | 1.55% | 7.22% | to | 7.82% |
| PIMCO VIT CommodityRealReturn® Strategy Portfolio | 266 | 4.92 | to | 5.47 | 1361 | 16.16% | 1.00% | to | 1.67% | (9.47)% | to | (8.85)% |
| PIMCO VIT Long-Term U.S. Government Portfolio | 24 | 8.72 | to | 9.31 | 218 | 2.28% | 1.00% | to | 1.60% | 2.22% | to | 2.85% |
| PIMCO VIT Low Duration Portfolio | 444 | 10.35 | to | 11.51 | 4830 | 3.49% | 1.00% | to | 1.67% | 3.12% | to | 3.82% |
| PIMCO VIT Real Return Portfolio | 39 | 12.01 | to | 13.36 | 493 | 2.94% | 1.00% | to | 1.67% | 1.84% | to | 2.53% |
| PIMCO VIT Total Return Portfolio | 3186 | 12.43 | to | 13.83 | 42103 | 3.46% | 1.00% | to | 1.67% | 4.06% | to | 4.77% |
| **Investor Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Guggenheim VT Global Managed Futures Strategy Fund | 35 | 6.85 | to | 7.59 | 249 | 3.68% | 1.00% | to | 1.67% | 2.07% | to | 2.77% |
| Guggenheim VT Multi-Hedge Strategies Fund | 18 | 9.10 | to | 10.12 | 179 | 2.82% | 1.00% | to | 1.67% | 2.63% | to | 3.33% |
| Guggenheim VT Long Short Equity Fund | 8 | 11.28 | to | 12.54 | 103 | 0.27% | 1.00% | to | 1.67% | 10.88% | to | 11.63% |
| **ETF Shares:** |  |  |  |  |  |  |  |  |  |  |  |  |
| iShares® Core S&P 500 ETF | 1152 | 27.24 | to | 97.44 | 86070 | 1.58% | 1.75% | to | 3.20% | 22.28% | to | 24.10% |
| iShares® Core S&P Mid-Cap ETF | 415 | 24.54 | to | 73.63 | 25185 | 1.57% | 1.75% | to | 3.20% | 12.69% | to | 14.37% |
| iShares® Core S&P Small-Cap ETF | 232 | 22.88 | to | 74.45 | 13812 | 1.45% | 1.75% | to | 3.20% | 12.35% | to | 14.02% |
| iShares® Core U.S. Aggregate Bond ETF | 67 | 21.31 | to | 25.97 | 1484 | 3.16% | 1.75% | to | 3.20% | 2.28% | to | 3.81% |
| iShares® iBoxx $ High Yield Corporate Bond ETF | 25 | 23.34 | to | 35.20 | 788 | 5.94% | 1.75% | to | 3.20% | 7.98% | to | 9.59% |
| iShares® 5-10 Year Investment Grade Corporate Bond ETF | 47 | 21.77 | to | 28.97 | 1151 | 3.91% | 1.75% | to | 3.20% | 5.81% | to | 7.39% |
| iShares® International Treasury Bond ETF | 685 | 17.97 | to | 18.37 | 11499 | —% | 1.75% | to | 3.20% | 2.20% | to | 3.73% |
| iShares® S&P 500 Growth ETF | 110 | 25.93 | to | 108.28 | 8908 | 1.13% | 1.75% | to | 3.20% | 25.69% | to | 27.57% |
| iShares® S&P 500 Value ETF | 51 | 28.00 | to | 78.61 | 3496 | 1.79% | 1.75% | to | 3.20% | 18.18% | to | 19.94% |
| iShares® TIPS Bond ETF | 8 | 22.01 | to | 27.26 | 196 | 2.79% | 1.75% | to | 3.20% | 0.49% | to | 1.99% |
| Vanguard® Developed Markets Index Fund, ETF Shares | 320 | 22.90 | to | 39.41 | 12100 | 3.27% | 1.75% | to | 3.20% | 14.16% | to | 15.86% |
| Vanguard® Dividend Appreciation Index Fund, ETF Shares | 37 | 26.64 | to | 83.89 | 2162 | 1.99% | 1.75% | to | 3.20% | 10.82% | to | 12.48% |
| Vanguard® Emerging Markets Stock Index Fund, ETF Shares | 17 | 19.15 | to | 25.04 | 419 | 3.31% | 1.75% | to | 3.20% | 5.79% | to | 7.37% |
| Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares | 6 | 21.71 | to | 32.06 | 175 | 3.82% | 1.75% | to | 3.20% | 5.50% | to | 7.08% |
| Vanguard® Large-Cap Index Fund, ETF Shares | 25 | 26.75 | to | 95.82 | 1941 | 1.55% | 1.75% | to | 3.20% | 23.13% | to | 24.96% |
| Vanguard® Mega Cap Index Fund, ETF Shares | 3 | 27.41 | to | 100.57 | 225 | 1.49% | 1.75% | to | 3.20% | 25.63% | to | 27.50% |
| Vanguard® Real Estate Index Fund, ETF Shares | 22 | 21.95 | to | 53.29 | 956 | 4.24% | 1.75% | to | 3.20% | 8.21% | to | 9.82% |
| Vanguard® Short-Term Bond Index Fund, ETF Shares | 13 | 22.61 | to | 23.63 | 276 | 2.48% | 1.75% | to | 3.20% | 1.55% | to | 3.07% |
| Vanguard® Total Bond Market Index Fund, ETF Shares | 3682 | 21.30 | to | 26.05 | 82560 | 3.15% | 1.75% | to | 3.20% | 2.28% | to | 3.81% |

---

---

| | |
|:---|:---|
| | 37 |
| -\*Less than 500. | 37 |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**5. Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2022**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Affiliated:** | | | | | | | | | | | | |
| Touchstone VST Balanced Fund | 2767 | $8.78 | to | $9.02 | $24631 | 0.46% | 0.60% | to | 2.15% | (17.75)% | to | (16.45)% |
| Touchstone VST Bond Fund | 1292 | 9.00 | to | 9.35 | 11726 | 1.71% | 0.60% | to | 1.67% | (15.34)% | to | (14.42)% |
| Touchstone VST Common Stock Fund | 2040 | 13.27 | to | 13.78 | 27355 | 0.23% | 0.60% | to | 1.67% | (19.16)% | to | (18.28)% |
| **Non-Affiliated Initial Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Balanced Portfolio | 54 | 23.63 | to | 24.29 | 1705 | 1.24% | 1.10% | to | 1.35% | (19.05)% | to | (18.84)% |
| Fidelity VIP Overseas Portfolio | 37 | 11.54 | to | 13.68 | 1241 | 0.99% | 0.60% | to | 1.67% | (25.74)% | to | (24.94)% |
| Fidelity VIP Equity-Income Portfolio | 94 | 36.72 | to | 37.75 | 8337 | 1.87% | 1.10% | to | 1.35% | (6.24)% | to | (6.00)% |
| Fidelity VIP Growth Portfolio | 30 |  |  | 219.55 | 6533 | 0.61% |  |  | 1.35% |  |  | (25.48)% |
| Fidelity VIP High Income Portfolio | 11 |  |  | 28.87 | 305 | 4.71% |  |  | 1.35% |  |  | (12.57)% |
| Fidelity VIP Asset Manager Portfolio | 38 |  |  | 63.24 | 2413 | 1.94% |  |  | 1.35% |  |  | (16.08)% |
| Fidelity VIP Contrafund® Portfolio | 131 | 57.98 | to | 59.59 | 11740 | 0.50% | 1.10% | to | 1.35% | (27.31)% | to | (27.12)% |
| Fidelity VIP Index 500 Portfolio | 109 | 31.95 | to | 29.01 | 4994 | 1.44% | 1.10% | to | 1.45% | (19.40)% | to | (19.11)% |
| Fidelity VIP Investment Grade Bond Portfolio | 82 | 12.58 | to | 14.91 | 1701 | 2.17% | 0.60% | to | 1.67% | (14.41)% | to | (13.48)% |
| Fidelity VIP Government Money Market | 1009 | 9.64 | to | 10.17 | 9592 | 1.61% | 0.60% | to | 3.20% | (1.80)% |  | 0.83% |
| **Non-Affiliated Service Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Equity-Income Portfolio | 6 |  |  | 29.38 | 179 | 1.49% |  |  | 1.45% |  |  | (6.46)% |
| Fidelity VIP Growth Portfolio | 15 | 34.60 | to | 36.06 | 515 | 0.51% | 1.10% | to | 1.45% | (25.62)% | to | (25.35)% |
| Fidelity VIP High Income Portfolio | 7 |  |  | 15.83 | 113 | 6.53% |  |  | 1.45% |  |  | (12.84)% |
| Fidelity VIP Asset Manager Portfolio | -\* |  |  | 19.52 | 3 | 1.95% |  |  | 1.45% |  |  | (16.26)% |
| Fidelity VIP Contrafund® Portfolio | 16 |  |  | 42.30 | 685 | 0.40% |  |  | 1.45% |  |  | (27.45)% |
| Fidelity VIP Balanced Portfolio | 5 |  |  | 27.17 | 136 | 1.18% |  |  | 1.45% |  |  | (19.21)% |
| Fidelity VIP Mid Cap Portfolio | 26 | 86.95 | to | 85.99 | 2228 | 0.38% | 1.10% | to | 1.45% | (16.09)% | to | (15.79)% |
| **Non-Affiliated Service Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Asset Manager Portfolio | 77 | 19.68 | to | 22.80 | 1432 | 1.79% | 0.60% | to | 1.67% | (16.57)% | to | (15.66)% |
| Fidelity VIP Balanced Portfolio | 287 | 27.56 | to | 32.12 | 7428 | 0.91% | 0.60% | to | 1.67% | (19.55)% | to | (18.68)% |
| Fidelity VIP Bond Index Portfolio | 923 | 8.80 | to | 8.97 | 8217 | 1.59% | 1.00% | to | 1.55% | (14.72)% | to | (14.24)% |
| Fidelity VIP Contrafund® Portfolio | 936 | 42.37 | to | 45.84 | 28269 | 0.25% | 0.60% | to | 1.67% | (27.71)% | to | (26.93)% |
| Fidelity VIP Disciplined Small Cap Portfolio | 123 | 18.82 | to | 22.31 | 2448 | 0.59% | 0.60% | to | 1.67% | (19.81)% | to | (18.94)% |
| Fidelity VIP Equity-Income Portfolio | 177 | 30.45 | to | 32.48 | 4056 | 1.60% | 0.60% | to | 1.67% | (6.82)% | to | (5.81)% |
| Fidelity VIP Extended Market Index Portfolio | 1 | 11.56 | to | 11.78 | 11 | 0.27% | 1.00% | to | 1.55% | (19.56)% | to | (19.12)% |
| Fidelity VIP Freedom 2010 Portfolio | 16 | 14.53 | to | 17.22 | 246 | 1.94% | 0.60% | to | 1.67% | (15.10)% | to | (14.18)% |
| Fidelity VIP Freedom 2015 Portfolio | 34 | 15.13 | to | 17.93 | 534 | 1.90% | 0.60% | to | 1.67% | (16.21)% | to | (15.30)% |
| Fidelity VIP Freedom 2020 Portfolio | 232 | 15.40 | to | 18.25 | 3670 | 1.82% | 0.60% | to | 1.67% | (17.37)% | to | (16.47)% |
| Fidelity VIP Freedom 2025 Portfolio | 307 | 16.48 | to | 19.53 | 5260 | 1.77% | 0.60% | to | 1.67% | (18.03)% | to | (17.14)% |
| Fidelity VIP Freedom 2030 Portfolio | 54 | 16.82 | to | 19.93 | 925 | 1.69% | 0.60% | to | 1.67% | (18.47)% | to | (17.58)% |
| Fidelity VIP Growth Portfolio | 439 | 43.56 | to | 46.49 | 15762 | 0.35% | 0.60% | to | 1.67% | (25.90)% | to | (25.10)% |
| Fidelity VIP High Income Portfolio | 283 | 18.63 | to | 21.03 | 5321 | 8.96% | 0.60% | to | 1.67% | (13.15)% | to | (12.20)% |
| Fidelity VIP Index 500 Portfolio | 1343 | 37.99 | to | 30.55 | 36132 | 1.21% | 0.60% | to | 1.67% | (19.78)% | to | (18.91)% |
| Fidelity VIP International Index Portfolio | 195 | 10.08 | to | 10.28 | 1985 | 2.62% | 1.00% | to | 1.55% | (17.51)% | to | (17.05)% |
| Fidelity VIP Investment Grade Bond Portfolio | 2117 | 12.87 | to | 15.60 | 27237 | 2.05% | 0.60% | to | 1.67% | (14.66)% | to | (13.73)% |
| Fidelity VIP Mid Cap Portfolio | 195 | 47.19 | to | 47.18 | 6251 | 0.26% | 0.60% | to | 1.67% | (16.39)% | to | (15.48)% |
| Fidelity VIP Overseas Portfolio | 150 | 22.40 | to | 21.77 | 2163 | 0.85% | 0.60% | to | 1.67% | (25.94)% | to | (25.13)% |

---

---

| | |
|:---|:---|
| | 38 |
| -\*Less than 500. | 38 |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**5. Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2022**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Non-Affiliated Service Class 2 (continued):** | | | | | | | | | | | | |
| Fidelity VIP Target Volatility Portfolio | 313 | $13.03 | to | $13.77 | $4110 | 2.25% | 1.00% | to | 1.60% | (17.00)% | to | (16.50)% |
| Fidelity VIP Total Market Index Portfolio | 237 | 12.45 | to | 12.70 | 2991 | 1.45% | 1.00% | to | 1.55% | (20.66)% | to | (20.22)% |
| **Non-Affiliated Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Columbia VP – Select Mid Cap Value Fund | 76 | 22.88 | to | 24.77 | 1784 | —% | 1.00% | to | 1.67% | (10.95)% | to | (10.34)% |
| Franklin Growth and Income VIP Fund | 32 | 36.16 | to | 37.17 | 1154 | 3.44% | 1.10% | to | 1.35% | (7.86)% | to | (7.62)% |
| Franklin Income VIP Fund | 101 | 30.76 | to | 31.62 | 3121 | 4.95% | 1.10% | to | 1.35% | (6.51)% | to | (6.28)% |
| JP Morgan IT Mid Cap Value | 10 | 41.39 | to | 45.42 | 411 | 0.94% | 1.00% | to | 1.67% | (9.69)% | to | (9.07)% |
| Morgan Stanley VIF Emerging Markets Debt Portfolio | 8 | 21.40 | to | 24.06 | 186 | 7.56% | 1.00% | to | 1.55% | (20.00)% | to | (19.55)% |
| Morgan Stanley VIF U.S. Real Estate Portfolio | 30 | 29.89 | to | 33.13 | 998 | 1.24% | 1.00% | to | 1.55% | (28.18)% | to | (27.78)% |
| **Non-Affiliated Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| American Funds I.S. Managed Risk Asset Allocation Fund | 556 | 12.80 | to | 13.53 | 7199 | 2.28% | 1.00% | to | 1.60% | (15.34)% | to | (14.83)% |
| Columbia VP – Small Cap Value Fund | 87 | 32.71 | to | 35.89 | 2907 | 0.48% | 1.00% | to | 1.67% | (10.49)% | to | (9.88)% |
| Franklin Growth and Income VIP Fund | 266 | 31.26 | to | 33.42 | 7260 | 3.03% | 0.60% | to | 1.67% | (8.36)% | to | (7.37)% |
| Franklin Income VIP Fund | 827 | 24.44 | to | 26.45 | 16171 | 4.90% | 0.60% | to | 1.67% | (7.05)% | to | (6.04)% |
| Franklin Large Cap Growth VIP Fund | 174 | 28.75 | to | 31.91 | 4368 | —% | 0.60% | to | 1.67% | (37.60)% | to | (36.92)% |
| Franklin Mutual Shares VIP Fund | 1193 | 23.60 | to | 25.78 | 20130 | 1.85% | 0.60% | to | 1.67% | (8.97)% | to | (7.99)% |
| Franklin Small Cap Value VIP Fund | 86 | 20.77 | to | 24.61 | 1840 | 1.00% | 0.60% | to | 1.67% | (11.56)% | to | (10.60)% |
| Invesco V.I. American Franchise Fund | 76 | 33.17 | to | 37.61 | 2173 | —% | 0.60% | to | 1.67% | (32.44)% | to | (31.71)% |
| Invesco V.I. American Value Fund | 554 | 22.02 | to | 24.33 | 12849 | 0.46% | 1.00% | to | 1.67% | (4.48)% | to | (3.83)% |
| Invesco V.I. Comstock Fund | 455 | 34.99 | to | 37.48 | 11241 | 1.35% | 0.60% | to | 1.67% | (0.83)% | to | 0.24% |
| Invesco V.I. EQV International Equity Fund | 340 | 12.18 | to | 13.08 | 4272 | 1.47% | 1.00% | to | 1.60% | (19.81)% | to | (19.32)% |
| Invesco V.I. Discovery Mid Cap Growth Fund | 194 | 11.74 | to | 11.92 | 2293 | —% | 1.00% | to | 1.55% | (32.20)% | to | (31.82)% |
| Templeton Foreign VIP Fund | 800 | 16.92 | to | 17.29 | 8454 | 3.06% | 0.60% | to | 1.67% | (9.15)% | to | (8.16)% |
| Templeton Global Bond VIP Fund | 253 | 7.65 | to | 8.11 | 1952 | —% | 1.00% | to | 1.60% | (6.47)% | to | (5.90)% |
| Templeton Growth VIP Fund | 123 | 17.95 | to | 18.67 | 1969 | 0.16% | 0.60% | to | 1.67% | (12.98)% | to | (12.03)% |
| Morgan Stanley VIF Emerging Markets Debt Portfolio | 44 | 17.72 | to | 19.35 | 586 | 7.47% | 0.60% | to | 1.67% | (20.16)% | to | (19.29)% |
| Morgan Stanley VIF Emerging Markets Equity Portfolio | 130 | 26.23 | to | 25.03 | 1582 | 0.37% | 0.60% | to | 1.67% | (26.38)% | to | (25.58)% |
| Morgan Stanley VIF U.S. Real Estate Portfolio | 299 | 25.76 | to | 27.27 | 3454 | 0.99% | 0.60% | to | 1.67% | (28.43)% | to | (27.65)% |
| **Non-Affiliated Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| BlackRock Capital Appreciation V.I. Fund | 601 | 23.48 | to | 25.20 | 14417 | 2.24% | 1.00% | to | 1.60% | (38.81)% | to | (38.43)% |
| BlackRock Global Allocation V.I. Fund | 113 | 13.14 | to | 14.10 | 1533 | —% | 1.00% | to | 1.60% | (17.41)% | to | (16.91)% |
| BlackRock High Yield V.I. Fund | 77 | 11.62 | to | 12.06 | 915 | 4.98% | 1.00% | to | 1.55% | (11.94)% | to | (11.45)% |
| BlackRock Total Return V.I. Fund | 188 | 9.17 | to | 9.52 | 1731 | 1.89% | 1.00% | to | 1.55% | (15.59)% | to | (15.12)% |
| TOPS® Managed Risk Moderate Growth ETF Portfolio | 216 | 11.50 | to | 12.19 | 2534 | 16.12% | 1.00% | to | 1.60% | (14.91)% | to | (14.39)% |
| **Non-Affiliated Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |
| American Funds I.S. The Bond Fund of America | 253 | 9.48 | to | 9.83 | 2430 | 2.73% | 1.00% | to | 1.55% | (14.10)% | to | (13.62)% |
| American Funds I.S. Capital Income Builder Fund | 121 | 11.77 | to | 12.29 | 1450 | 2.62% | 1.00% | to | 1.55% | (8.81)% | to | (8.30)% |
| American Funds I.S. Global Growth Fund | 453 | 18.03 | to | 19.05 | 8247 | 0.41% | 1.00% | to | 1.60% | (26.12)% | to | (25.67)% |
| American Funds I.S. Growth Fund | 493 | 24.36 | to | 25.74 | 12217 | 0.10% | 1.00% | to | 1.60% | (31.23)% | to | (30.81)% |
| American Funds I.S. Growth-Income Fund | 753 | 19.71 | to | 20.83 | 15027 | 1.01% | 1.00% | to | 1.60% | (18.04)% | to | (17.54)% |
| American Funds I.S. New World Fund | 201 | 11.89 | to | 12.56 | 2463 | 1.18% | 1.00% | to | 1.60% | (23.50)% | to | (23.03)% |
| **Non-Affiliated Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| DWS Small Cap Index VIP Fund | 9 | 32.97 | to | 35.50 | 313 | 0.78% | 1.10% | to | 1.45% | (21.79)% | to | (21.51)% |
| **Non-Affiliated Class B:** |  |  |  |  |  |  |  |  |  |  |  |  |
| DWS Small Cap Index VIP Fund | 73 | 30.61 | to | 30.92 | 1663 | 0.57% | 0.60% | to | 1.67% | (22.21)% | to | (21.36)% |

---

---

| | |
|:---|:---|
| | 39 |
| -\*Less than 500. | 39 |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**5. Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2022**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Advisor Class:** | | | | | | | | | | | | |
| PIMCO VIT All Asset Portfolio | 36 | $14.20 | to | $15.69 | $535 | 7.47% | 1.00% | to | 1.67% | (13.34)% | to | (12.75)% |
| PIMCO VIT International Bond Portfolio (US Dollar Hedged) | 4 | 9.69 | to | 10.06 | 41 | 1.33% | 1.00% | to | 1.55% | (11.63)% | to | (11.14)% |
| PIMCO VIT CommodityRealReturn® Strategy Portfolio | 288 | 5.43 | to | 6.00 | 1625 | 20.70% | 1.00% | to | 1.67% | 6.85% | to | 7.58% |
| PIMCO VIT Long-Term U.S. Government Portfolio | 27 | 8.53 | to | 9.05 | 241 | 1.90% | 1.00% | to | 1.60% | (30.08)% | to | (29.66)% |
| PIMCO VIT Low Duration Portfolio | 610 | 10.04 | to | 11.09 | 6369 | 1.37% | 1.00% | to | 1.67% | (7.40)% | to | (6.78)% |
| PIMCO VIT Real Return Portfolio | 55 | 11.79 | to | 13.03 | 673 | 7.39% | 1.00% | to | 1.67% | (13.46)% | to | (12.87)% |
| PIMCO VIT Total Return Portfolio | 3399 | 11.94 | to | 13.20 | 42971 | 2.52% | 1.00% | to | 1.67% | (15.81)% | to | (15.24)% |
| **Investor Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Guggenheim VT Global Managed Futures Strategy Fund | 39 | 6.71 | to | 7.38 | 268 | 2.80% | 1.00% | to | 1.67% | 9.43% | to | 10.17% |
| Guggenheim VT Multi-Hedge Strategies Fund | 20 | 8.86 | to | 9.79 | 192 | 1.13% | 1.00% | to | 1.67% | (5.01)% | to | (4.36)% |
| Guggenheim VT Long Short Equity Fund | 9 | 10.17 | to | 11.24 | 99 | 0.47% | 1.00% | to | 1.67% | (15.81)% | to | (15.24)% |
| **ETF Shares:** |  |  |  |  |  |  |  |  |  |  |  |  |
| iShares® Core S&P 500 ETF | 1263 | 22.28 | to | 78.51 | 81346 | 1.54% | 1.75% | to | 3.20% | (20.75)% | to | (19.57)% |
| iShares® Core S&P Mid-Cap ETF | 417 | 21.77 | to | 64.38 | 23402 | 1.61% | 1.75% | to | 3.20% | (15.86)% | to | (14.60)% |
| iShares® Core S&P Small-Cap ETF | 220 | 20.37 | to | 65.29 | 12290 | 1.32% | 1.75% | to | 3.20% | (18.85)% | to | (17.63)% |
| iShares® Core U.S. Aggregate Bond ETF | 74 | 20.84 | to | 25.01 | 1613 | 2.25% | 1.75% | to | 3.20% | (15.79)% | to | (14.53)% |
| iShares® iBoxx $ High Yield Corporate Bond ETF | 26 | 21.61 | to | 32.12 | 757 | 5.01% | 1.75% | to | 3.20% | (13.83)% | to | (12.54)% |
| iShares® 5-10 Year Investment Grade Corporate Bond ETF | 53 | 20.58 | to | 26.98 | 1242 | 2.87% | 1.75% | to | 3.20% | (16.75)% | to | (15.50)% |
| iShares® International Treasury Bond ETF | 681 | 17.58 | to | 17.71 | 11073 | 0.10% | 1.75% | to | 3.20% | (24.56)% | to | (23.43)% |
| iShares® S&P 500 Growth ETF | 122 | 20.63 | to | 84.88 | 8228 | 0.78% | 1.75% | to | 3.20% | (31.76)% | to | (30.74)% |
| iShares® S&P 500 Value ETF | 57 | 23.70 | to | 65.54 | 3363 | 2.04% | 1.75% | to | 3.20% | (8.40)% | to | (7.03)% |
| iShares® TIPS Bond ETF | 8 | 21.90 | to | 26.73 | 187 | 6.31% | 1.75% | to | 3.20% | (15.03)% | to | (13.76)% |
| Vanguard® Developed Markets Index Fund, ETF Shares | 353 | 20.06 | to | 34.01 | 11880 | 2.78% | 1.75% | to | 3.20% | (18.06)% | to | (16.83)% |
| Vanguard® Dividend Appreciation Index Fund, ETF Shares | 35 | 24.04 | to | 74.58 | 2081 | 1.92% | 1.75% | to | 3.20% | (12.69)% | to | (11.38)% |
| Vanguard® Emerging Markets Stock Index Fund, ETF Shares | 20 | 18.11 | to | 23.32 | 474 | 3.78% | 1.75% | to | 3.20% | (20.60)% | to | (19.41)% |
| Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares | 7 | 20.57 | to | 29.94 | 191 | 2.84% | 1.75% | to | 3.20% | (16.72)% | to | (15.47)% |
| Vanguard® Large-Cap Index Fund, ETF Shares | 27 | 21.72 | to | 76.68 | 1829 | 1.52% | 1.75% | to | 3.20% | (22.47)% | to | (21.31)% |
| Vanguard® Mega Cap Index Fund, ETF Shares | 3 | 21.81 | to | 78.88 | 186 | 1.46% | 1.75% | to | 3.20% | (22.52)% | to | (21.36)% |
| Vanguard® Real Estate Index Fund, ETF Shares | 21 | 20.28 | to | 48.53 | 866 | 3.38% | 1.75% | to | 3.20% | (28.60)% | to | (27.53)% |
| Vanguard® Short-Term Bond Index Fund, ETF Shares | 15 | 22.26 | to | 22.93 | 304 | 1.43% | 1.75% | to | 3.20% | (8.50)% | to | (7.13)% |
| Vanguard® Total Bond Market Index Fund, ETF Shares | 3679 | 20.82 | to | 25.09 | 80213 | 2.36% | 1.75% | to | 3.20% | (15.88)% | to | (14.62)% |

---

---

| | |
|:---|:---|
| | 40 |
| -\*Less than 500. | 40 |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**5. Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2021**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Affiliated:** | | | | | | | | | | | | |
| Touchstone VST Balanced Fund (April 17, 2021) | 2986 | $10.68 | to | $10.80 | $32062 | 0.30% | 0.60% | to | 2.15% | 6.77% | to | 7.99% |
| Touchstone VST Bond Fund | 1472 | 10.64 | to | 10.92 | 15744 | 2.36% | 0.60% | to | 1.67% | (2.95)% | to | (1.89)% |
| Touchstone VST Common Stock Fund | 2229 | 16.42 | to | 16.86 | 36862 | 0.37% | 0.60% | to | 1.67% | 25.44% | to | 26.80% |
| **Non-Affiliated Initial Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Balanced Portfolio | 62 | 29.19 | to | 29.93 | 2406 | 0.92% | 1.10% | to | 1.35% | 16.67% | to | 16.96% |
| Fidelity VIP Overseas Portfolio | 41 | 15.55 | to | 18.22 | 1898 | 0.52% | 0.60% | to | 1.67% | 17.70% | to | 18.98% |
| Fidelity VIP Equity-Income Portfolio | 100 | 39.17 | to | 40.16 | 9651 | 1.87% | 1.10% | to | 1.35% | 23.21% | to | 23.52% |
| Fidelity VIP Growth Portfolio | 32 |  |  | 294.60 | 9443 | —% |  |  | 1.35% |  |  | 21.55% |
| Fidelity VIP High Income Portfolio | 14 |  |  | 33.02 | 458 | 5.47% |  |  | 1.35% |  |  | 3.00% |
| Fidelity VIP Asset Manager Portfolio | 44 |  |  | 75.36 | 3292 | 1.60% |  |  | 1.35% |  |  | 8.44% |
| Fidelity VIP Contrafund® Portfolio | 137 | 79.76 | to | 81.77 | 16975 | 0.06% | 1.10% | to | 1.35% | 26.11% | to | 26.43% |
| Fidelity VIP Index 500 Portfolio | 115 | 39.64 | to | 35.86 | 6692 | 1.23% | 1.10% | to | 1.45% | 26.71% | to | 27.16% |
| Fidelity VIP Investment Grade Bond Portfolio | 90 | 14.70 | to | 17.23 | 2201 | 2.00% | 0.60% | to | 1.67% | (2.27)% | to | (1.20)% |
| Fidelity VIP Government Money Market | 741 | 9.81 | to | 10.08 | 7052 | 0.01% | 0.60% | to | 3.20% | (1.86)% |  | (0.59)% |
| **Non-Affiliated Service Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Equity-Income Portfolio | 8 |  |  | 31.41 | 251 | 1.76% |  |  | 1.45% |  |  | 23.02% |
| Fidelity VIP Growth Portfolio | 16 | 46.51 | to | 48.31 | 759 | —% | 1.10% | to | 1.45% | 21.30% | to | 21.73% |
| Fidelity VIP High Income Portfolio | 4 |  |  | 18.16 | 78 | 2.70% |  |  | 1.45% |  |  | 2.98% |
| Fidelity VIP Asset Manager Portfolio | -\* |  |  | 23.31 | 4 | 1.46% |  |  | 1.45% |  |  | 8.21% |
| Fidelity VIP Contrafund® Portfolio | 17 |  |  | 58.30 | 1004 | 0.05% |  |  | 1.45% |  |  | 25.86% |
| Fidelity VIP Balanced Portfolio | 5 |  |  | 33.63 | 173 | 0.86% |  |  | 1.45% |  |  | 16.41% |
| Fidelity VIP Mid Cap Portfolio | 31 | 103.62 | to | 102.11 | 3110 | 0.49% | 1.10% | to | 1.45% | 23.69% | to | 24.13% |
| **Non-Affiliated Service Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Fidelity VIP Asset Manager Portfolio | 92 | 23.58 | to | 27.03 | 2025 | 1.41% | 0.60% | to | 1.67% | 7.85% | to | 9.02% |
| Fidelity VIP Balanced Portfolio | 344 | 34.26 | to | 39.50 | 10852 | 0.71% | 0.60% | to | 1.67% | 16.02% | to | 17.28% |
| Fidelity VIP Bond Index Portfolio | 545 | 10.31 | to | 10.46 | 5670 | 1.19% | 1.00% | to | 1.55% | (3.75)% | to | (3.22)% |
| Fidelity VIP Contrafund® Portfolio | 1029 | 58.62 | to | 62.73 | 43079 | 0.03% | 0.60% | to | 1.67% | 25.38% | to | 26.75% |
| Fidelity VIP Disciplined Small Cap Portfolio | 106 | 23.48 | to | 27.52 | 2620 | 0.17% | 0.60% | to | 1.67% | 18.38% | to | 19.67% |
| Fidelity VIP Equity-Income Portfolio | 197 | 32.68 | to | 34.49 | 4990 | 1.62% | 0.60% | to | 1.67% | 22.53% | to | 23.86% |
| Fidelity VIP Extended Market Index Portfolio | 5 | 14.37 | to | 14.57 | 73 | 0.49% | 1.00% | to | 1.55% | 19.06% | to | 19.72% |
| Fidelity VIP Freedom 2010 Portfolio | 21 | 17.12 | to | 20.06 | 372 | 0.60% | 0.60% | to | 1.67% | 3.83% | to | 4.96% |
| Fidelity VIP Freedom 2015 Portfolio | 43 | 18.05 | to | 21.16 | 796 | 0.81% | 0.60% | to | 1.67% | 5.60% | to | 6.75% |
| Fidelity VIP Freedom 2020 Portfolio | 277 | 18.64 | to | 21.85 | 5277 | 0.84% | 0.60% | to | 1.67% | 7.44% | to | 8.61% |
| Fidelity VIP Freedom 2025 Portfolio | 358 | 20.10 | to | 23.57 | 7433 | 0.84% | 0.60% | to | 1.67% | 8.70% | to | 9.89% |
| Fidelity VIP Freedom 2030 Portfolio | 51 | 20.63 | to | 24.19 | 1072 | 0.87% | 0.60% | to | 1.67% | 10.20% | to | 11.40% |
| Fidelity VIP Growth Portfolio | 473 | 58.78 | to | 62.06 | 22708 | —% | 0.60% | to | 1.67% | 20.85% | to | 22.17% |
| Fidelity VIP High Income Portfolio | 106 | 21.45 | to | 23.95 | 2010 | 2.34% | 0.60% | to | 1.67% | 2.55% | to | 3.66% |
| Fidelity VIP Index 500 Portfolio | 1557 | 47.36 | to | 37.68 | 51957 | 1.05% | 0.60% | to | 1.67% | 26.12% | to | 27.49% |
| Fidelity VIP International Index Portfolio | 102 | 12.22 | to | 12.39 | 1257 | 3.66% | 1.00% | to | 1.55% | 5.81% | to | 6.40% |
| Fidelity VIP Investment Grade Bond Portfolio | 2276 | 15.08 | to | 18.09 | 34169 | 1.83% | 0.60% | to | 1.67% | (2.55)% | to | (1.49)% |
| Fidelity VIP Mid Cap Portfolio | 222 | 56.44 | to | 55.82 | 8567 | 0.35% | 0.60% | to | 1.67% | 23.21% | to | 24.55% |
| Fidelity VIP Overseas Portfolio | 156 | 30.24 | to | 29.08 | 2986 | 0.32% | 0.60% | to | 1.67% | 17.40% | to | 18.67% |

---

---

| | |
|:---|:---|
| | 41 |
| -\*Less than 500. | 41 |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**5. Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2021**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Non-Affiliated Service Class 2 (continued):** | | | | | | | | | | | | |
| Fidelity VIP Target Volatility Portfolio | 294 | $15.70 | to | $16.49 | $4658 | 0.02% | 1.00% | to | 1.60% | 10.24% | to | 10.91% |
| Fidelity VIP Total Market Index Portfolio | 136 | 15.70 | to | 15.92 | 2149 | 1.30% | 1.00% | to | 1.55% | 23.44% | to | 24.13% |
| **Non-Affiliated Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Columbia VP – Select Mid Cap Value Fund | 80 | 25.70 | to | 27.63 | 2121 | —% | 1.00% | to | 1.67% | 30.12% | to | 31.01% |
| Franklin Growth and Income VIP Fund | 38 | 39.25 | to | 40.24 | 1496 | 2.56% | 1.10% | to | 1.35% | 23.89% | to | 24.21% |
| Franklin Income VIP Fund | 120 | 32.90 | to | 33.74 | 3940 | 4.68% | 1.10% | to | 1.35% | 15.43% | to | 15.72% |
| JP Morgan IT Mid Cap Value | 10 | 45.83 | to | 49.95 | 476 | 0.92% | 1.00% | to | 1.67% | 27.72% | to | 28.59% |
| Morgan Stanley VIF Emerging Markets Debt Portfolio | 9 | 26.75 | to | 29.91 | 250 | 5.03% | 1.00% | to | 1.55% | (3.54)% | to | (3.00)% |
| Morgan Stanley VIF U.S. Real Estate Portfolio | 32 | 41.62 | to | 45.88 | 1472 | 2.08% | 1.00% | to | 1.55% | 37.64% | to | 38.40% |
| **Non-Affiliated Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| American Funds I.S. Managed Risk Asset Allocation Fund | 498 | 15.13 | to | 15.88 | 7606 | 1.41% | 1.00% | to | 1.60% | 10.70% | to | 11.38% |
| Columbia VP – Small Cap Value Fund | 92 | 36.54 | to | 39.83 | 3427 | 0.49% | 1.00% | to | 1.67% | 26.65% | to | 27.52% |
| Franklin Growth and Income VIP Fund | 286 | 34.11 | to | 36.07 | 8539 | 2.45% | 0.60% | to | 1.67% | 23.15% | to | 24.49% |
| Franklin Income VIP Fund | 849 | 26.29 | to | 28.15 | 18035 | 4.61% | 0.60% | to | 1.67% | 14.81% | to | 16.05% |
| Franklin Large Cap Growth VIP Fund | 204 | 46.07 | to | 50.58 | 8540 | —% | 0.60% | to | 1.67% | 13.35% | to | 14.58% |
| Franklin Mutual Shares VIP Fund | 1262 | 25.93 | to | 28.02 | 23078 | 2.92% | 0.60% | to | 1.67% | 17.18% | to | 18.45% |
| Franklin Small Cap Value VIP Fund | 93 | 23.48 | to | 27.53 | 2264 | 0.89% | 0.60% | to | 1.67% | 23.27% | to | 24.61% |
| Invesco V.I. American Franchise Fund | 88 | 49.10 | to | 55.07 | 3695 | —% | 0.60% | to | 1.67% | 9.78% | to | 10.98% |
| Invesco V.I. American Value Fund | 503 | 23.05 | to | 25.30 | 12165 | 0.24% | 1.00% | to | 1.67% | 25.49% | to | 26.35% |
| Invesco V.I. Comstock Fund | 510 | 35.28 | to | 37.39 | 12528 | 1.63% | 0.60% | to | 1.67% | 30.82% | to | 32.24% |
| Invesco V.I. International Growth Fund | 319 | 15.19 | to | 16.21 | 4973 | 1.10% | 1.00% | to | 1.60% | 3.92% | to | 4.55% |
| Invesco V.I. Discovery Mid Cap Growth Series II | 165 | 17.32 | to | 17.48 | 2862 | —% | 1.00% | to | 1.55% | 16.95% | to | 17.61% |
| Templeton Foreign VIP Fund | 815 | 18.63 | to | 18.83 | 9356 | 1.81% | 0.60% | to | 1.67% | 2.42% | to | 3.53% |
| Templeton Global Bond VIP Fund | 327 | 8.18 | to | 8.62 | 2692 | —% | 1.00% | to | 1.60% | (6.51)% | to | (5.94)% |
| Templeton Growth VIP Fund | 135 | 20.62 | to | 21.23 | 2506 | 1.10% | 0.60% | to | 1.67% | 3.12% | to | 4.24% |
| Morgan Stanley VIF Emerging Markets Debt Portfolio | 46 | 22.20 | to | 23.97 | 767 | 5.29% | 0.60% | to | 1.67% | (3.60)% | to | (2.55)% |
| Morgan Stanley VIF Emerging Markets Equity Portfolio | 133 | 35.64 | to | 33.64 | 2175 | 0.72% | 0.60% | to | 1.67% | 1.23% | to | 2.34% |
| Morgan Stanley VIF U.S. Real Estate Portfolio | 279 | 35.99 | to | 37.70 | 4507 | 1.81% | 0.60% | to | 1.67% | 37.11% | to | 38.60% |
| **Non-Affiliated Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| BlackRock Capital Appreciation V.I. Fund | 550 | 38.36 | to | 40.94 | 21472 | —% | 1.00% | to | 1.60% | 18.96% | to | 19.68% |
| BlackRock Global Allocation V.I. Fund | 106 | 15.91 | to | 16.97 | 1734 | 0.86% | 1.00% | to | 1.60% | 4.71% | to | 5.35% |
| BlackRock High Yield V.I. Fund | 73 | 13.20 | to | 13.62 | 983 | 3.96% | 1.00% | to | 1.55% | 3.58% | to | 4.16% |
| BlackRock Total Return V.I. Fund | 193 | 10.86 | to | 11.21 | 2105 | 1.26% | 1.00% | to | 1.55% | (3.22)% | to | (2.68)% |
| TOPS® Managed Risk Moderate Growth ETF Portfolio | 252 | 13.51 | to | 14.24 | 3460 | 1.05% | 1.00% | to | 1.60% | 9.21% | to | 9.87% |
| **Non-Affiliated Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |
| American Funds I.S. The Bond Fund of America | 248 | 11.03 | to | 11.38 | 2763 | 1.45% | 1.00% | to | 1.55% | (2.13)% | to | (1.58)% |
| American Funds I.S. Capital Income Builder Fund | 105 | 12.91 | to | 13.40 | 1366 | 2.53% | 1.00% | to | 1.55% | 12.90% | to | 13.53% |
| American Funds I.S. Global Growth Fund | 557 | 24.40 | to | 25.63 | 13727 | 0.21% | 1.00% | to | 1.60% | 14.28% | to | 14.97% |
| American Funds I.S. Growth Fund | 501 | 35.42 | to | 37.20 | 18012 | 0.06% | 1.00% | to | 1.60% | 19.74% | to | 20.47% |
| American Funds I.S. Growth-Income Fund | 913 | 24.05 | to | 25.26 | 22188 | 0.95% | 1.00% | to | 1.60% | 21.82% | to | 22.56% |
| American Funds I.S. New World Fund | 157 | 15.54 | to | 16.32 | 2497 | 0.66% | 1.00% | to | 1.60% | 2.96% | to | 3.58% |
| **Non-Affiliated Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| DWS Small Cap Index VIP Fund | 11 | 42.15 | to | 45.23 | 476 | 0.83% | 1.10% | to | 1.45% | 12.84% | to | 13.24% |
| **Non-Affiliated Class B:** |  |  |  |  |  |  |  |  |  |  |  |  |
| DWS Small Cap Index VIP Fund | 74 | 39.35 | to | 39.32 | 2254 | 0.56% | 0.60% | to | 1.67% | 12.28% | to | 13.50% |

---

---

| | |
|:---|:---|
| | 42 |
| -\*Less than 500. | 42 |

---

------

Separate Account I

of

Integrity Life Insurance Company

Notes to Financial Statements (continued)

**5. Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Unit Value** | **Unit Value** | **Unit Value** | | | **Expense** | **Expense** | **Expense** | **Total** | **Total** | **Total** |
| **For Year Ended 2021**<br><br>**Subaccount** |<br>**Units**<br>**(000s)** | **Range** | **Range** | **Range** |<br>**Net Assets**<br>**(000s)** |<br>**Investment**<br>**Income**<br>**Ratio (\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Ratio (\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** | **Return (\*\*\*\*)** |
| **Advisor Class:** | | | | | | | | | | | | |
| PIMCO VIT All Asset Portfolio | 41 | $16.39 | to | $17.98 | $691 | 10.90% | 1.00% | to | 1.67% | 14.10% | to | 14.88% |
| PIMCO VIT International Bond Portfolio (US Dollar Hedged) | 7 | 10.97 | to | 11.32 | 84 | 1.63% | 1.00% | to | 1.55% | (3.57)% | to | (3.03)% |
| PIMCO VIT CommodityRealReturn® Strategy Portfolio | 356 | 5.08 | to | 5.58 | 1871 | 4.04% | 1.00% | to | 1.67% | 30.89% | to | 31.78% |
| PIMCO VIT Long-Term U.S. Government Portfolio | 29 | 12.21 | to | 12.87 | 361 | 1.46% | 1.00% | to | 1.60% | (6.40)% | to | (5.83)% |
| PIMCO VIT Low Duration Portfolio | 937 | 10.84 | to | 11.89 | 10477 | 0.45% | 1.00% | to | 1.67% | (2.68)% | to | (2.02)% |
| PIMCO VIT Real Return Portfolio | 64 | 13.63 | to | 14.95 | 905 | 4.82% | 1.00% | to | 1.67% | 3.72% | to | 4.43% |
| PIMCO VIT Total Return Portfolio | 3377 | 14.19 | to | 15.57 | 50358 | 1.73% | 1.00% | to | 1.67% | (3.01)% | to | (2.35)% |
| **Investor Class:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Guggenheim VT Global Managed Futures Strategy Fund | 58 | 6.13 | to | 6.70 | 361 | —% | 1.00% | to | 1.67% | (0.75)% | to | (0.07)% |
| Guggenheim VT Multi-Hedge Strategies Fund | 24 | 9.33 | to | 10.24 | 232 | —% | 1.00% | to | 1.67% | 6.30% | to | 7.02% |
| Guggenheim VT Long Short Equity Fund | 9 | 12.08 | to | 13.26 | 120 | 0.54% | 1.00% | to | 1.67% | 21.73% | to | 22.56% |
| **ETF Shares:** |  |  |  |  |  |  |  |  |  |  |  |  |
| iShares® Core S&P 500 ETF | 1202 | 28.12 | to | 97.61 | 105876 | 1.32% | 1.75% | to | 3.20% | 12.46% | to | 26.50% |
| iShares® Core S&P Mid-Cap ETF | 422 | 25.88 | to | 75.39 | 29949 | 1.23% | 1.75% | to | 3.20% | 3.52% | to | 22.53% |
| iShares® Core S&P Small-Cap ETF | 212 | 25.10 | to | 79.27 | 15706 | 1.55% | 1.75% | to | 3.20% | 0.38% | to | 24.38% |
| iShares® Core U.S. Aggregate Bond ETF | 72 | 24.75 | to | 29.27 | 1858 | 1.76% | 1.75% | to | 3.20% | (1.01)% | to | (3.49)% |
| iShares® iBoxx $ High Yield Corporate Bond ETF | 26 | 25.08 | to | 36.73 | 891 | 4.01% | 1.75% | to | 3.20% | 0.33% | to | 1.93% |
| iShares® 5-10 Year Investment Grade Corporate Bond ETF | 52 | 24.72 | to | 31.93 | 1474 | 2.30% | 1.75% | to | 3.20% | (1.13)% | to | (3.38)% |
| iShares® International Treasury Bond ETF | 634 | 23.31 | to | 23.13 | 13544 | 0.40% | 1.75% | to | 3.20% | (6.77)% | to | (10.84)% |
| iShares® S&P 500 Growth ETF | 106 | 30.22 | to | 122.55 | 11422 | 0.52% | 1.75% | to | 3.20% | 20.90% | to | 29.50% |
| iShares® S&P 500 Value ETF | 62 | 25.87 | to | 70.50 | 4152 | 1.91% | 1.75% | to | 3.20% | 3.48% | to | 22.54% |
| iShares® TIPS Bond ETF | 7 | 25.78 | to | 30.99 | 201 | 4.22% | 1.75% | to | 3.20% | 3.12% | to | 3.87% |
| Vanguard® Developed Markets Index Fund, ETF Shares | 346 | 24.48 | to | 40.90 | 14486 | 3.15% | 1.75% | to | 3.20% | (2.08)% | to | 9.69% |
| Vanguard® Dividend Appreciation Index Fund, ETF Shares | 35 | 27.53 | to | 84.16 | 2520 | 1.71% | 1.75% | to | 3.20% | 10.13% | to | 21.59% |
| Vanguard® Emerging Markets Stock Index Fund, ETF Shares | 19 | 22.80 | to | 28.94 | 572 | 2.49% | 1.75% | to | 3.20% | (8.79)% | to | (0.52)% |
| Vanguard® Intermediate-Term Corporate Bond Index Fund, ETF Shares | 8 | 24.71 | to | 35.42 | 244 | 2.19% | 1.75% | to | 3.20% | (1.18)% | to | (3.49)% |
| Vanguard® Large-Cap Index Fund, ETF Shares | 27 | 28.02 | to | 97.45 | 2483 | 1.31% | 1.75% | to | 3.20% | 12.07% | to | 25.17% |
| Vanguard® Mega Cap Index Fund, ETF Shares | 3 | 28.16 | to | 100.30 | 298 | 1.21% | 1.75% | to | 3.20% | 12.62% | to | 25.34% |
| Vanguard® Real Estate Index Fund, ETF Shares | 19 | 28.41 | to | 66.96 | 1163 | 2.87% | 1.75% | to | 3.20% | 13.63% | to | 38.07% |
| Vanguard® Short-Term Bond Index Fund, ETF Shares | 15 | 24.33 | to | 24.69 | 339 | 1.16% | 1.75% | to | 3.20% | (2.67)% | to | (2.82)% |
| Vanguard® Total Bond Market Index Fund, ETF Shares | 3879 | 24.76 | to | 29.39 | 100075 | 1.89% | 1.75% | to | 3.20% | (0.98)% | to | (3.58)% |

---

---

| | |
|:---|:---|
| | 43 |
| -\*Less than 500. | 43 |

---

------

STATUTORY-BASIS FINANCIAL STATEMENTS

Integrity Life Insurance Company

Years Ended December 31, 2025, 2024 and 2023

With Report of Independent Auditors

------

Integrity Life Insurance Company

Statutory-Basis Financial Statements and Supplementary Information

Years Ended December 31, 2025, 2024 and 2023

**Contents**

---

| | |
|:---|:---|
| Report of Independent Auditors | [1](#ia72431c1420b4b26a71ab7086ac3c920_10) |
| Financial Statements |  |
| Balance Sheets (Statutory-Basis) | [4](#ia72431c1420b4b26a71ab7086ac3c920_13) |
| Statements of Operations (Statutory-Basis) | [5](#ia72431c1420b4b26a71ab7086ac3c920_16) |
| Statements of Changes in Capital and Surplus (Statutory-Basis) | [6](#ia72431c1420b4b26a71ab7086ac3c920_549755814611) |
| Statements of Cash Flow (Statutory-Basis) | [7](#ia72431c1420b4b26a71ab7086ac3c920_22) |
| Notes to Financial Statements (Statutory-Basis) | [8](#ia72431c1420b4b26a71ab7086ac3c920_25) |
| Supplementary Information |  |
| Report of Independent Auditors on Supplementary Information | [51](#ia72431c1420b4b26a71ab7086ac3c920_61) |
| Supplemental Schedule of Selected Statutory-Basis Financial Data | [52](#ia72431c1420b4b26a71ab7086ac3c920_64) |
| Supplemental Investment Disclosures (Supplemental Investment Risk Interrogatories and Summary Investment Schedule) | [56](#ia72431c1420b4b26a71ab7086ac3c920_67) |
| Note to Supplemental Schedule of Selected Statutory-Basis Financial Data | [63](#ia72431c1420b4b26a71ab7086ac3c920_70) |

---

------

**Report of Independent Auditors**

The Board of Directors

Integrity Life Insurance Company

**Opinion**

We have audited the statutory-basis financial statements of Integrity Life Insurance Company (the Company), which comprise the balance sheets as of December 31, 2025 and 2024, and the related statements of operations, changes in capital and surplus and cash flow for each of the three years ended December 31, 2025, and the related notes to the financial statements (collectively referred to as the "financial statements").

*Unmodified Opinion on Statutory Basis of Accounting*

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2025 and 2024, and the results of its operations and its cash flows for the three years ended December 31, 2025, on the basis of accounting described in Note 1.

*Adverse Opinion on U.S. Generally Accepted Accounting Principles*

In our opinion, because of the significance of the matter described in the Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles section of our report, the financial statements do not present fairly, in accordance with accounting principles generally accepted in the United States of America, the financial position of the Company at December 31, 2025 and 2024, or the results of its operations or its cash flows for the three years ended December 31, 2025.

**Basis for Opinion**

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

*Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles*

As described in Note 1 to the financial statements, the Company prepared these financial statements using accounting practices prescribed or permitted by the Ohio Department of Insurance, which is a basis of accounting other than accounting principles generally accepted in the United States of America. The effects on the financial statements of the variances between these statutory accounting practices described

------

in Note 1 and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material and pervasive.

**Responsibilities of Management for the Financial Statements**

Management is responsible for the preparation and fair presentation of the financial statements in accordance with the accounting practices prescribed or permitted by the Ohio Department of Insurance. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for one year after the date that the financial statements are issued.

**Auditor's Responsibilities for the Audit of the Financial Statements**

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exercise professional judgment and maintain professional skepticism throughout the audit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

/s/ Ernst & Young, LLP

April 20, 2026

------

Integrity Life Insurance Company

Balance Sheets (Statutory-Basis)

---

| | | |
|:---|:---|:---|
| | **December 31** | **December 31** |
| | **2025** | **2024** |
| **Admitted assets**  | *(In Thousands)* | *(In Thousands)* |
| Cash and invested assets:  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities  | $**3801659**  | $4213722  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred and common stocks  | **736604**  | 684530  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment in common stock of subsidiary | **561252**  | 440020  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans  | **952956**  | 979563  |
| &nbsp;&nbsp;&nbsp;&nbsp;Policy loans  | **81729**  | 91967  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivatives  | **108858**  | 78388  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments  | **73930**  | 20866  |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivable for securities  | **1122**  | 2829  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets  | **543016**  | 387769  |
| Total cash and invested assets  | **6861126**  | 6899654  |
| Investment income due and accrued  | **43576**  | 46018  |
| Current federal income taxes recoverable from parent | **—**  | 10853  |
| Net deferred income tax asset  | **11940**  | 7173  |
| Amounts receivable on reinsurance contracts | **2058**  | 1795  |
| Other admitted assets  | **20335**  | 20074  |
| Separate account assets | **1573840**  | 1638414  |
| Total admitted assets  | $**8512875**  | $8623981  |
| **Liabilities and capital and surplus**  |  |  |
| Liabilities:  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Policy and contract liabilities:  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life and annuity reserves  | $**4285597**  | $4437168  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liability for deposit-type contracts  | **846084**  | 879715  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy and contract claims  | **250**  | 265  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total policy and contract liabilities  | **5131931**  | 5317148  |
| General expense due and accrued  | **178**  | 170  |
| Current federal income taxes payable to parent | **9049**  | —  |
| Transfer to (from) separate accounts due and accrued, net | **(31930)** | (12384) |
| Asset valuation reserve  | **204214**  | 190379  |
| Amounts payable on reinsurance contracts | **2421**  | 1669  |
| Other liabilities  | **72990**  | 51301  |
| Derivatives  | **37591**  | 30561  |
| Payable for securities lending  | **113977**  | 132551  |
| Separate account liabilities | **1573840**  | 1638414  |
| Total liabilities  | **7114261**  | 7349809  |
| Capital and surplus:  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, $2 par value, authorized 1,500 shares, issued and outstanding 1,500 shares | **3000**  | 3000  |
| &nbsp;&nbsp;&nbsp;&nbsp;Paid-in surplus  | **908164**  | 908164  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated surplus  | **487450**  | 363008  |
| Total capital and surplus  | **1398614**  | 1274172  |
| Total liabilities and capital and surplus  | $**8512875**  | $8623981  |

---

*See accompanying notes.*

------

Integrity Life Insurance Company

Statements of Operations (Statutory-Basis)

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31** | **Year Ended December 31** | **Year Ended December 31** |
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Premiums and other revenues: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums and annuity considerations | $**290045**  | $284868  | $429933  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income | **317438**  | 348677  | 306303  |
| &nbsp;&nbsp;&nbsp;&nbsp;Considerations for supplementary contracts with life contingencies | **6634**  | 5785  | 4292  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of the interest maintenance reserve | **(4990)** | (4142) | (2099) |
| &nbsp;&nbsp;&nbsp;&nbsp;Reserve adjustments on reinsurance ceded | **(139)** | (81) | (628) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees from management of separate accounts | **15501**  | 17181  | 16331  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenues | **2172**  | 3010  | 2721  |
| Total premiums and other revenues | **626661**  | 655298  | 756853  |
| Benefits paid or provided: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Death benefits | **18029**  | 10359  | 14702  |
| &nbsp;&nbsp;&nbsp;&nbsp;Annuity benefits | **315887**  | 307675  | 337406  |
| &nbsp;&nbsp;&nbsp;&nbsp;Surrender benefits | **485045**  | 588222  | 781195  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments on supplementary contracts with life contingencies | **9344**  | 8996  | 8807  |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in policy reserves and other policyholders' funds | **(117473)** | (183249) | (286806) |
| Total benefits paid or provided | **710832**  | 732003  | 855304  |
| Insurance expenses and other deductions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commissions | **19950**  | 19411  | 24751  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commissions and expenses on reinsurance assumed | **11**  | 12  | 12  |
| &nbsp;&nbsp;&nbsp;&nbsp;General expenses | **44758**  | 44773  | 44285  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net transfers to (from) separate accounts | **(201278)** | (249602) | (228330) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other deductions | **6456**  | 3164  | 11730  |
| Total insurance expenses and other deductions | **(130103)** | (182242) | (147552) |
| Gain (loss) from operations before federal income tax expense and net realized capital gains (losses) | **45932**  | 105537  | 49101  |
| Federal income tax expense (benefit), excluding tax on capital gains  | **23764**  | 10783  | 12736  |
| Gain (loss) from operations before net realized capital gains (losses)  | **22168**  | 94754  | 36365  |
| Net realized capital gains (losses) (excluding gains (losses) transferred to IMR and capital gains tax) | **30252**  | 23298  | (8355) |
| Net income (loss) | $**52420**  | $118052  | $28010  |

---

*See accompanying notes.*

------

Integrity Life Insurance Company

Statements of Changes in Capital and Surplus (Statutory-Basis)

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Balance, January 1 | $**1274172**  | $1327494  | $1295775  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) | **52420**  | 118052  | 28010  |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in net deferred income tax | **17881**  | 2842  | 6817  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized gains (losses) on investments (net of deferred tax expense (benefit) of $13,114; $14,718; $17,222, respectively) | **170564**  | 22270  | 178950  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in nonadmitted assets and related items | **16**  | 37  | 10758  |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in asset valuation reserve | **(13835)** | 670  | (67786) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in surplus in separate accounts | **(2604)** | (199) | (30) |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends to stockholder | **(100000)** | (200000) | (125000) |
| &nbsp;&nbsp;&nbsp;&nbsp;Prior year reserve correction | **—**  | 3006  | —  |
| Balance, December 31 | $**1398614**  | $1274172  | $1327494  |

---

*See accompanying notes.*

------

Integrity Life Insurance Company

Statements of Cash Flow (Statutory-Basis)

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31** | **Year Ended December 31** | **Year Ended December 31** |
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| **Operating activities** |  |  |  |
| Premiums collected net of reinsurance | $**297394**  | $290611  | $435927  |
| Net investment income received | **279203**  | 344703  | 308574  |
| Benefits paid | **(863192)** | (978017) | (1185289) |
| Net transfers from (to) separate accounts | **179127**  | 302471  | 165931  |
| Commissions and expense paid | **(70162)** | (67322) | (78391) |
| Federal income taxes recovered (paid) | **(9575)** | (26875) | (12167) |
| Other, net  | **18080**  | 20093  | 19372  |
| Net cash from (for) operations | **(169125)** | (114336) | (346043) |
| **Investing activities** |  |  |  |
| Proceeds from investments sold, matured or repaid: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities | **1152214**  | 1153263  | 1007304  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred and common stocks | **145357**  | 130001  | 66878  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans | **57400**  | 70443  | 72110  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets | **133594**  | 53057  | 14813  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net gains (losses) on cash, cash equivalents and short-term investments | **(52)** | (4) | 3  |
| &nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous proceeds | **1707**  | 1816  | 6400  |
| Net proceeds from investments sold, matured or repaid | **1490220**  | 1408576  | 1167508  |
| Cost of investments acquired: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities | **(806680)** | (877905) | (532727) |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred and common stocks | **(108277)** | (122055) | (55763) |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans | **(30794)** | (108535) | (56312) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets | **(213030)** | (38979) | (34640) |
| &nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous applications | **(10863)** | (17213) | (40746) |
| Total cost of investments acquired | **(1169644)** | (1164687) | (720188) |
| Net change in policy and other loans | **10238**  | 1354  | 2838  |
| Net cash from (for) investments | **330814**  | 245243  | 450158  |
| **Financing and miscellaneous activities** |  |  |  |
| Net deposits on deposit-type contract funds and other insurance liabilities | **(33630)** | (19236) | (42958) |
| Dividends to stockholder | **(100000)** | (160318) | (75000) |
| Other cash provided (applied) | **25005**  | 26921  | 23977  |
| Net cash from (for) financing and miscellaneous sources | **(108625)** | (152633) | (93981) |
| Net change in cash, cash equivalents and short-term investments | **53064**  | (21726) | 10134  |
| Cash, cash equivalents and short-term investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Beginning of year | **20866**  | 42592  | 32458  |
| &nbsp;&nbsp;&nbsp;&nbsp;End of year | $**73930**  | $20866  | $42592  |
| **Cash flow information for noncash transactions:** |  |  |  |
| Dividend to The Western and Southern Life Insurance Company in the form of common stock | $—  | $(39682) | $(50000) |

---

*See accompanying notes.*

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**1. Nature of Operations and Significant Accounting Policies** 

Integrity Life Insurance Company (the Company) is a wholly-owned subsidiary of The Western and Southern Life Insurance Company (Western and Southern). The Company, domiciled in the state of Ohio and currently licensed in 49 states and the District of Columbia, specializes in the asset accumulation business with particular emphasis on retirement savings and investment products. For the year ended December 31, 2025, approximately 50.4% of the gross premiums and annuity considerations for the Company were derived from California, Florida, Ohio, Pennsylvania, and Texas.

The Company's wholly-owned insurance subsidiary, National Integrity Life Insurance Company (National Integrity), is currently licensed in eight states and the District of Columbia and distributes similar products, principally in the state of New York. Fort Washington Investment Advisors, Inc. (Fort Washington), a registered investment adviser, is a nonlife insurance subsidiary of Western and Southern and is the investment manager for the Company.

State regulatory authorities have powers relating to granting and revoking licenses to transact business, the licensing of agents, the regulation of premium rates and trade practices, the form and content of insurance policies, the content of advertising material, financial statements and the nature of permitted practices.

**Use of Estimates** 

The preparation of statutory-basis financial statements requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

**Basis of Presentation**

The accompanying financial statements of the Company have been prepared in conformity with accounting practices prescribed or permitted by the Ohio Department of Insurance (the Department). The National Association of Insurance Commissioners' (NAIC) *Accounting Practices and Procedures Manual* (NAIC SAP or SSAP) has been adopted as a component of prescribed or permitted practices by the State of Ohio. Ohio Administrative Code 3901-1-67, Alternative derivative and reserve accounting practices - Section A (OAC 3901-1-67) allows the Company to follow a prescribed practice related to its derivative instruments purchased to hedge indexed products. In accordance with the practice, the Company has included changes in, and settlement of, eligible derivatives in net investment income. Without the prescribed practice, the Company would record changes in, and settlement of, eligible derivatives through unrealized gains/losses and realized gains/losses, respectively. In 2025, the net income of the Company was $52.4 million, which is $29.1 million higher than the $23.3 million of net income that would have been reported under NAIC SAP. In 2024, the net income of the Company was $118.1 million, which is $12.0 million higher than the $106.1 million of net income that would have been reported under NAIC SAP. There was no impact to the Company's capital and surplus in either period.

These practices differ in some respects from U.S. generally accepted accounting principles (GAAP). The more significant differences follow.

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

*Investments*

Investments in debt securities and mandatory redeemable preferred stocks are reported at amortized cost or fair value based on the NAIC rating; for GAAP, such fixed maturity investments are designated at purchase as held-to-maturity, trading or available-for-sale. Held-to-maturity fixed investments are reported at amortized cost, and the remaining fixed maturity investments are reported at fair value with unrealized holding gains and losses reported in the statement of operations for those designated as trading and as a separate component of other comprehensive income (loss) for those designated as available-for-sale.

All single-class and multiclass mortgage-backed/asset-backed securities (e.g., CMOs) are adjusted for the effects of changes in prepayment assumptions on the related accretion of discount or amortization of premium of such securities using the retrospective method. The prospective method is used to determine amortized cost for securities that experience a decline that is deemed to be other-than-temporary. Securities that are in an unrealized loss position which the Company intends to sell, or does not have the intent and ability to hold until recovery, are written down to fair value as a realized loss. Securities that are in an unrealized loss position which the Company has the intent and ability to hold until recovery are written down to the extent the present value of expected future cash flows using the security's effective yield is lower than the amortized cost. For GAAP purposes, all securities, purchased or retained, that represent beneficial interests in securitized assets (e.g., CMO, CBO, CDO, CLO, MBS and ABS securities), other than high credit quality securities, are adjusted using the prospective method when there is a change in estimated future cash flows. If it is determined that a decline in fair value is other-than-temporary, the cost basis of the security is written down to the extent the present value of expected future cash flows using the security's effective yield is lower than the amortized cost. If high credit quality securities are adjusted, the retrospective method is used.

The Company monitors other investments to determine if there has been an other-than-temporary decline in fair value. Factors that management considers for each identified security include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The extent the fair value has been below the book/adjusted carrying value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The reasons for the decline in value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Specific credit issues related to the issuer and current economic conditions, including the current and future impact of any specific events;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For structured investments (e.g., residential mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities and other structured investments), factors such as overall deal structure and the Company's position within the structure, quality of underlying collateral, delinquencies and defaults, loss severities, recoveries, prepayments and cumulative loss projections are considered;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For all equity securities and other debt securities with credit-related declines in fair value, the Company's intent and ability to hold the security long enough for it to recover its value to book/adjusted carrying value; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For all other debt securities with interest-related declines in fair value, the Company's intent to sell the security before recovery of its book/adjusted carrying value.

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

If the decline is judged to be other-than-temporary, an impairment charge to fair value is recorded as a net realized capital loss in the period the determination is made. Under GAAP, if the decline is judged to be other-than-temporary because the Company has the intent to sell the debt security or is more likely than not to be required to sell the debt security before its anticipated recovery, an impairment charge to fair value is recorded as a net realized capital loss. If the decline is judged to be other-than-temporary because the Company does not expect to recover the entire amortized cost basis of the security due to expected credit losses, an impairment charge is recorded to net realized capital loss as the difference between amortized cost and the net present value of expected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment.

Derivative instruments used for liability risk management to reduce the exposure to adverse equity market performance (i.e., an economic hedge), are deemed a portfolio hedge with the assets marked to market and changes recorded as unrealized gains (losses). Gains (losses) at termination are recognized immediately as realized gains (losses). Embedded derivatives are not accounted for separately from the host contract. Under GAAP, all derivatives are reported on the balance sheet at fair value, the effective and ineffective portions of a single hedge are accounted for separately, and an embedded derivative within a contract that is not clearly and closely related to the economic characteristics and risks of the host contract is accounted for separately from the host contract and valued and reported at fair value. Changes in market value of derivatives as well as gains (losses) at termination are recorded as a component of realized gains and losses.

Other invested assets reflect investments in unaffiliated surplus debentures and joint ventures, partnerships and limited liability companies. Unaffiliated surplus debentures are reported at amortized cost. For GAAP, these assets are treated similarly as other debt securities designated as available-for-sale and are recorded at their fair value. Joint ventures, partnerships, and limited liability companies are carried at the Company's interest in the underlying audited GAAP equity of the investee. Undistributed earnings allocated to the Company are reported in the change in net unrealized capital gains or losses. Distributions from earnings of the investees are reported as net investment income when received. For GAAP, these assets are accounted for using the equity method.

Under a formula prescribed by the NAIC, the Company defers the portion of realized capital gains and losses on sales of fixed income investments, principally debt securities and mortgage loans, attributable to changes in the general level of interest rates and amortizes those deferrals over the remaining period to maturity of the individual security sold using the seriatim method. The net deferral is reported as the interest maintenance reserve (IMR) in the accompanying balance sheets. Realized capital gains and losses are reported in income net of federal income tax and transfers to the IMR. Under GAAP, realized capital gains and losses are reported in the statement of operations on a pretax basis in the period that the assets giving rise to the gains or losses are sold.

The asset valuation reserve (AVR) provides a valuation allowance for invested assets. The AVR is determined by an NAIC prescribed formula with changes reflected directly in capital and surplus. AVR is not recognized for GAAP.

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

*Subsidiary*

The accounts and operations of the Company's subsidiary are not consolidated with the accounts and operations of the Company as would be required under GAAP.

*Policy Acquisition Costs*

The costs of acquiring and renewing business are expensed when incurred. Under GAAP, policy acquisition costs related to traditional life insurance, certain long-duration accident and health insurance, universal life insurance, and investment-type contracts are deferred and amortized on a constant-level basis over the expected life of the related contracts.

*Nonadmitted Assets*

Certain assets designated as "nonadmitted" (principally certain receivables balances), and other assets not specifically identified as an admitted asset within the NAIC's *Accounting Practices and Procedures Manual*, are excluded from the accompanying balance sheets and are charged directly to accumulated deficit. Under GAAP, such assets are included in the balance sheets.

*Premiums and Benefits*

Revenues for universal life and annuity policies with mortality or morbidity risk, except for guaranteed interest and group annuity contracts, consist of the entire premium received, and benefits incurred represent the total of death benefits paid and the change in policy reserves. Premiums received for annuity policies without mortality or morbidity risk and for guaranteed interest and group annuity contracts are recorded using deposit accounting, and credited directly to an appropriate policy reserve account, without recognizing premium income. Under GAAP, premiums received in excess of policy charges would not be recognized as premium revenue and benefits would represent the excess of benefits paid over the policy account value and interest credited to the account values.

*Benefit Reserves* 

Certain policy reserves are calculated using statutorily prescribed interest and mortality assumptions rather than on estimated expected experience or actual account balances as would be required under GAAP.

*Reinsurance*

A liability for reinsurance balances is required to be provided for unsecured policy reserves ceded to reinsurers not authorized to assume such business. Changes to those amounts are credited or charged directly to capital and surplus. Under GAAP, an allowance for amounts deemed uncollectible would be established through a charge to earnings.

Policy and contract liabilities ceded to reinsurers have been reported as reductions of the related reserves rather than as assets as would be required under GAAP. Commissions allowed by reinsurers on business ceded are reported as income when incurred rather than being deferred and amortized with policy acquisition costs as required under GAAP.

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

*Deferred Income Taxes*

Deferred tax assets are recorded for the amount of gross deferred tax assets expected to be realized in future years, and a valuation allowance is established for deferred tax assets not meeting a more-likely-than-not realization threshold. Deferred tax assets are limited to 1) the amount of federal income taxes paid in prior years that can be recovered through loss carrybacks for existing temporary differences that reverse during a time frame corresponding with Internal Revenue Service (IRS) tax loss carryback provisions, not to exceed three years, including amounts established in accordance with the provision of SSAP No. 5R, plus 2) for entities who meet the required realization threshold in SSAP No. 101, the lesser of the remaining gross deferred tax assets expected to be realized within three years of the balance sheet date or 15% of capital and surplus excluding any net deferred tax assets, electronic data processing equipment and operating software and any net positive goodwill, plus 3) the amount of remaining gross deferred tax assets that can be offset against existing gross deferred tax liabilities. The remaining deferred tax assets are nonadmitted. Under GAAP, a deferred tax asset is recorded for the amount of gross deferred tax assets expected to be realized in all future years, and a valuation allowance is established for deferred tax assets not meeting a more-likely-than-not realization threshold.

*Statements of Cash Flow*

Cash, cash equivalents and short-term investments in the statements of cash flow represent cash balances and investments with initial maturities of one year or less. Under GAAP, the corresponding captions of cash and cash equivalents include cash balances and investments with initial maturities of three months or less.

Other significant statutory accounting practices follow.

**Restricted Assets** 

The Company has assets pledged as collateral, or otherwise not exclusively under control of the Company, totaling $1,267.4 million and $1,325.5 million as of December 31, 2025 and 2024, respectively. These assets are primarily collateral pledged to the Federal Home Loan Bank (FHLB) and collateral held in relation to the Company's securities lending program. These restricted assets are discussed in more detail in their relevant sections.

**Investments**

Debt securities, common stocks, preferred stocks, and short-term investments are stated at values prescribed by the NAIC, as follows:

Debt securities not backed by other loans are principally stated at amortized cost using the interest method.

Single-class and multiclass mortgage-backed/asset-backed securities are valued at amortized cost using the interest method including anticipated prepayments. Prepayment assumptions are obtained from Bloomberg and broker-dealer prepayment models or derived from empirical data and are based on the current interest rate and economic environment. The retrospective adjustment method is used to

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

value all such securities except securities that are deemed to be other-than-temporarily impaired and securities that are principal-only or interest-only, which are valued using the prospective method.

Unaffiliated common stocks, other than FHLB stock, are unrestricted and reported at fair value utilizing publicly quoted prices from third-party pricing services and the related unrealized capital gains and losses are reported in capital and surplus along with any adjustment for federal income taxes. FHLB stock is carried at cost and is restricted. At December 31, 2025 and 2024, the Company owned $30.0 million and $35.1 million, of FHLB stock, respectively. The FHLB stock is held in conjunction with the issuance of deposit contracts to the FHLB. See Note 9 for further description.

Redeemable preferred stocks that have characteristics of debt securities and are rated as medium quality or better are reported at amortized cost. All other redeemable preferred stocks are reported at the lower of amortized cost or fair value. Perpetual preferred stocks are valued at fair value, not exceeding any currently effective call price, utilizing publicly quoted prices from third-party pricing services and the related unrealized capital gains and losses are reported in capital and surplus along with any adjustment for federal income taxes.

Short-term investments include investments with remaining maturities of one year or less at the date of acquisition and are principally stated at amortized cost, which approximates fair value.

Cash equivalents are short-term highly liquid investments with original maturities of three months or less and are principally stated at amortized cost, which approximates fair value.

The Company's insurance subsidiary is reported at its underlying statutory equity. The net change in the subsidiary's equity is included in capital and surplus.

Mortgage loans are reported at unpaid principal balances, less an allowance for impairment. A mortgage loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all principal and interest amounts due according to the contractual terms of the mortgage agreement. When management determines foreclosure is probable, the impairment is other than temporary; the mortgage loan is written down to realizable value and a realized loss is recognized.

Policy loans are reported at unpaid principal balances.

Other invested assets reflect primarily investments in joint ventures, partnerships and limited liability companies. Joint ventures, partnerships, and limited liability companies are carried at the Company's interest in the underlying audited GAAP equity of the investee. Undistributed earnings allocated to the Company are reported in the change in net unrealized capital gains or losses. Distributions from earnings of the investees are reported as net investment income when received. Because of the indirect nature of these investments, there is an inherent reduction in transparency and liquidity and increased complexity in valuing the underlying investments. As a result, these investments are actively managed by the Company's management via detailed evaluation of the investment performance relative to risk.

See note 2 for discussion of the Company's policy related to derivatives.

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Debt securities and other loan interest are credited to income as it accrues. Dividends are recorded as income on ex-dividend dates. To the extent income is uncertain, due and accrued income is excluded and treated as nonadmitted through surplus.

Realized capital gains and losses are determined using the specific identification method.

**Premiums**

Life and accident and health premiums are recognized as revenue when due. Premiums for annuity policies with mortality and morbidity risk, except for guaranteed interest and group annuity contracts, are also recognized as revenue when due. Premiums received for annuity policies without mortality or morbidity risk and for guaranteed interest and group annuity contracts are recorded using deposit accounting.

**Policy Reserves**

Life and annuity reserves are developed by actuarial methods and are determined based on published tables using statutorily specified interest rates and valuation methods that will provide, in the aggregate, reserves that are greater than or equal to the minimum or guaranteed policy cash values or the amounts required by the Department. The Company waives deduction of deferred fractional premiums on the death of life and annuity policy insureds and does not return any premium beyond the date of death. Surrender values on policies do not exceed the corresponding benefit reserves. Policies issued subject to multiple table substandard extra premiums are valued on the standard reserve basis which recognizes the nonlevel incidence of the excess mortality costs. Additional reserves are established when the results of cash flow testing under various interest rate scenarios indicate the need for such reserves, or the net premiums exceed the gross premiums on any insurance in-force.

The mean reserve method is used to adjust the calculated terminal reserve to the appropriate reserve at December 31. Mean reserves are determined by computing the regular mean reserve for the plan at the rated age and holding, in addition, one-half of the extra premium charge for the year. Policies issued after July 1 for substandard lives, are charged an extra premium plus the regular premium for the true age. Mean reserves are based on appropriate multiples of standard rates of mortality. An asset is recorded for deferred premiums net of loading to adjust the reserve for modal premium payments.

For substandard table ratings, mean reserves are based on 125% to 500% of standard mortality rates. For flat extra ratings, mean reserves are based on the standard or substandard mortality rates increased by 1 to 25 deaths per thousand.

Tabular interest, tabular less actual reserves released, and tabular cost have been determined by formula as prescribed by the NAIC. Tabular interest on funds not involving life contingencies was derived from basic data.

The Company's variable annuities are reserved under VM-21. Policies reserved under VM-21 are based on principle-based policyholder and asset assumptions with margins and floored at cash values.

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Contracts issued that do not incorporate mortality or morbidity risk, such as guaranteed interest contracts, are accounted for as deposit-type contracts. Amounts received as payments and amounts withdrawn on deposit-type contracts are recorded directly to the liability for deposit-type contracts.

The establishment of appropriate reserves is an inherently uncertain process, and there can be no assurance that the ultimate liability will not exceed the Company's policy reserves and have an adverse effect on the Company's results of operations and financial condition. Due to the inherent uncertainty of estimating reserves, it has been necessary, and may over time continue to be necessary, to revise estimated future liabilities as reflected in the Company's policy reserves.

**Reinsurance**

Reinsurance premiums and benefits paid or provided are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. The change in reserves for modified coinsurance contracts is recorded on the reserve adjustments on reinsurance ceded line in the statements of operations.

**Securities Lending**

At December 31, 2025, the Company has loaned $111.4 million and $14.2 million (fair value) in the general and separate accounts, respectively, of various debt securities, preferred stocks and common stocks as part of a securities lending program administered by Mitsubishi UFJ Trust and Banking Corporation. At December 31, 2024, the Company had loaned $129.4 million and $24.1 million (fair value) in the general and separate accounts, respectively. The Company maintains effective control over all loaned securities and, therefore, continues to report such securities as invested assets in the balance sheets.

The Company requires at the initial transaction that the fair value of the cash collateral received must be equal to 102% of the fair value of the loaned securities. The Company monitors the ratio of the fair value of the collateral to loaned securities to ensure it does not fall below 100%. If the fair value of the collateral falls below 100% of the fair value of the securities loaned, the Company nonadmits that portion of the loaned security. At December 31, 2025 and 2024, the Company did not nonadmit any portion of the loaned securities.

The Company reports all collateral on the balance sheet, with an offsetting liability recognized for the obligation to return the collateral. Collateral for the securities lending program is managed either by an affiliated agent of the Company or by Mitsubishi UFJ Trust and Banking Corporation, an unaffiliated agent. Collateral managed by an affiliated agent is invested primarily in investment-grade debt securities and cash equivalents and is included in the applicable balance sheet amount because the funds are available for the general use of the Company.

At December 31, 2025 and 2024, the fair value of the total collateral in the general account was $113.5 million and $131.8 million, respectively, all of which was managed by an affiliated agent. The fair value of the total collateral in the separate account was $14.9 million and $24.9 million at December 31, 2025 and 2024, respectively, all of which was managed by an affiliated agent. At December 31, 2025, the collateral for all securities on loan could be requested to be returned on demand by the borrower.

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The aggregate collateral broken out by maturity date is as follows at December 31, 2025:

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| | | |
|:---|:---|:---|
| | **Amortized Cost** | **Fair<br>Value** |
|  | *(In Thousands)* | *(In Thousands)* |
| Open | $— | $— |
| 30 days or less | 27158 | 27159 |
| 31 to 60 days | 681 | 681 |
| 61 to 90 days | 1267 | 1267 |
| 91 to 120 days | 7344 | 7345 |
| 121 to 180 days | 8456 | 8458 |
| 181 to 365 days | 25321 | 25346 |
| 1 to 2 years | 8143 | 8160 |
| 2 to 3 years | 6000 | 6000 |
| Greater than 3 years | 29049 | 29049 |
| Total collateral | $113419 | $113465 |

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At December 31, 2025, all of the collateral held for the securities lending program was invested in tradable securities that could be sold and used to pay for the $114.0 million and $14.9 million in the general and separate accounts, respectively, in collateral calls that could come due under a worst-case scenario where all collateral was called simultaneously.

The Company does not accept collateral that is not permitted by contract or custom to sell or repledge. The Company does not have any securities lending transactions that extend beyond one year from the reporting date.

**Separate Accounts**

Separate account assets and liabilities reported in the accompanying balance sheets represent funds that are separately administered, principally for nonguaranteed variable annuity contracts and guaranteed market value adjusted annuity contracts. Assets held in the separate account supporting variable annuities are carried at fair value. Assets held in the separate account supporting market value adjusted annuities are carried at the general account basis. These separate account assets are considered legally insulated from the general account. Surrender charges collectible by the general account in the event of annuity contract surrenders are reported as a negative liability rather than an asset. Policy-related activity involving cash flow, such as premiums and benefits, are reported in the accompanying statements of operations in separate line items combined with related general account amounts. Investment income and interest credited on deposits held in guaranteed separate accounts are included in the accompanying statements of operations as a net amount included in net transfers to (from) separate accounts. The Company receives administrative fees for managing the nonguaranteed separate accounts and other fees for assuming mortality and certain expense risks.

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**Federal Income Taxes**

Western and Southern files a consolidated income tax return with its eligible subsidiaries and affiliates, including the Company. The provision for federal income taxes is allocated to the Company using a separate return method based upon a written tax-sharing agreement. The benefits from losses of subsidiaries and affiliates, which are utilized in the consolidated return, will be retained by the subsidiaries and affiliates under the tax-sharing agreement. Western and Southern pays all federal income taxes due for all members of the consolidated group. Western and Southern will then charge or reimburse, as the case may be, the members of the group an amount consistent with the method described in the tax-sharing agreement.

The Company recognizes accrued interest and penalties related to tax contingencies in Current federal income taxes recoverable or payable and Federal income tax expense (benefit), excluding tax on capital gains on the balance sheets and statements of operations, respectively.

**Accounting Changes** 

Effective January 1, 2025, the NAIC adopted revisions to SSAP No. 26, *Bonds*, and SSAP No. 43, *Asset Backed-Securities*, to reflect accounting and reporting guidance under the Principles Based Bond Definition (PBBD) for qualified investments. As a result of these adoptions, investments qualified as issuer credit obligations are reported under SSAP No. 26; investments qualified as asset-backed securities are reported under SSAP No. 43.

Effective January 1, 2025, the NAIC adopted revisions to SSAP No. 21, *Other Admitted Assets*, to reflect accounting and reporting guidance for investments that do not meet the requirements of PBBD, and for residual tranches or interests/loss positions. The aggregate book adjusted carrying value for all securities reclassified from debt securities to other invested assets was $40.9 million. The measurement basis for the transferred securities did not change. There is no change to the Company's net income or capital and surplus.

Effective January 1, 2024, the Company determined that its reserves related to single premium immediate annuities and supplemental contracts were understated due to an error in assignment of mortality tables. The Company has recorded a reserve correction in the amount of $3.0 million as an increase directly to surplus in the line *Prior year reserve correction* in the Statement of Changes in Capital and Surplus.

In 2023, the Statutory Accounting Principles Working Group issued *INT 23-01 Net Negative (Disallowed) Interest Maintenance Reserve* that allows for admission of IMR in a net asset position, which was previously non-admitted, if certain criteria are met. The amount allowed to be admitted is limited to 10% of an entity's adjusted capital and surplus. Having adopted this interpretation, the Company admitted $12.9 million of general account IMR assets and $6.4 million of separate account IMR assets as of December 31, 2023.

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**Subsequent Events**

The Company recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the balance sheet date. For nonrecognized subsequent events that must be disclosed to keep the financial statements from being misleading, the Company is required to disclose the nature of the event as well as an estimate of its financial effect, or a statement that such an estimate cannot be made. Management has evaluated subsequent events through the issuance of these financial statements on April 20, 2026.

**2. Investments** 

The book/adjusted carrying value and fair value of the Company's investments in debt securities are summarized in the following tables. The tables pertaining to 2025 include revisions to bond categorization, reflecting the principles-based bond definition that was implemented as of January 1, 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Book/ Adjusted Carrying Value** | **Gross Unrealized Gains** | **Gross Unrealized Losses** | **Fair<br>Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2025: |  |  |  |  |
| Issuer credit obligations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. government obligations, exempt from RBC | $**43505** | $**70** | $**(329)** | $**43246** |
| &nbsp;&nbsp;&nbsp;Non-US sovereign jurisdiction securities | **25940** | **16** | **(5687)** | **20269** |
| &nbsp;&nbsp;&nbsp;Municipal bonds - general obligations (direct and guaranteed) | **5160** | **—** | **(47)** | **5113** |
| &nbsp;&nbsp;&nbsp;Municipal bonds - special revenue | **79783** | **1139** | **(5195)** | **75727** |
| &nbsp;&nbsp;&nbsp;Corporate bonds | **2554914** | **51286** | **(106832)** | **2499368** |
| &nbsp;&nbsp;&nbsp;Single entity backed obligations | **58380** | **115** | **(1550)** | **56945** |
| &nbsp;&nbsp;&nbsp;Mortgage loans that qualify as SVO - identified credit tenant loans | **19** | **—** | **—** | **19** |
| Subtotal issuer credit obligations | $**2767701** | $**52626** | $**(119640)** | $**2700687** |
| Asset backed securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Agency residential mortgage-backed securities - guaranteed (exempt from RBC) | $**9** | $**—** | $**—** | $**9** |
| &nbsp;&nbsp;&nbsp;Agency commercial mortgage-backed securities - guaranteed (exempt from RBC) | **9155** | **940** | **(1539)** | **8556** |
| &nbsp;&nbsp;&nbsp;Agency residential mortgage-backed securities - not/partially guaranteed (not exempt from RBC) | **59599** | **279** | **(6056)** | **53822** |

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Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Agency commercial mortgage-backed securities - not/partially guaranteed (not exempt from RBC) | **7707** | **134** | **(506)** | **7335** |
| &nbsp;&nbsp;&nbsp;Non-agency residential mortgage-backed securities | **229854** | **1658** | **(15334)** | **216178** |
| &nbsp;&nbsp;&nbsp;Non-agency commercial mortgage-backed securities | **263588** | **1190** | **(10540)** | **254238** |
| &nbsp;&nbsp;&nbsp;Non-agency - CLOs/CBOs/CDOs | **153389** | **172** | **(249)** | **153312** |
| &nbsp;&nbsp;&nbsp;Other financial asset-backed securities - self liquidating | **131426** | **3417** | **(4381)** | **130462** |
| &nbsp;&nbsp;&nbsp;Other non-financial asset-backed securities - practical expedient | **1149** | **4** | **(1)** | **1152** |
| &nbsp;&nbsp;&nbsp;Lease-backed securities - full analysis | **26703** | **400** | **(392)** | **26711** |
| &nbsp;&nbsp;&nbsp;Other non-financial asset-backed securities - full analysis | **151379** | **1735** | **(3772)** | **149342** |
| Subtotal asset backed securities | $**1033958** | $**9929** | $**(42770)** | $**1001117** |
| Total debt securities | $**3801659** | $**62555** | $**(162410)** | $**3701804** |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Book/**<br>**Adjusted**<br>**Carrying**<br>**Value** | **Gross<br>Unrealized<br>Gains** | **Gross<br>Unrealized<br>Losses** | **Fair<br>Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2024: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury securities and obligations of U.S. government corporation and agencies | $50104 | $2 | $(1298) | $48808 |
| &nbsp;&nbsp;&nbsp;Debt securities issued by states of the U.S. and political subdivisions of the states | 10995 |  | (108) | 10887 |
| &nbsp;&nbsp;&nbsp;Non-U.S. government securities | 34852 | 126 | (8229) | 26749 |
| &nbsp;&nbsp;&nbsp;Corporate securities | 2576412 | 24621 | (167850) | 2433183 |
| &nbsp;&nbsp;&nbsp;Commercial mortgage-backed securities | 406730 | 2850 | (25041) | 384539 |
| &nbsp;&nbsp;&nbsp;Residential mortgage-backed securities | 303183 | 3279 | (29257) | 277205 |
| &nbsp;&nbsp;&nbsp;Asset-backed securities  | 831446 | 7708 | (29739) | 809415 |
| Total | $4213722 | $38586 | $(261522) | $3990786 |

---

At December 31, 2025 and 2024, the Company held unrated or below-investment-grade debt securities with a book/adjusted carrying value of $200.9 million and $255.2 million, respectively, with an aggregate fair value of $193.5 million and $232.4 million, respectively. As of December 31, 2025 and 2024, such holdings amount to 5.3% and 6.1%, respectively, of the Company's investments in debt securities and 2.4% and 3.0%, respectively, of the Company's total admitted assets. The Company performs periodic evaluations of the relative credit standing of the issuers of these debt securities. The Company considers these evaluations in its overall investment strategy.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Unrealized gains and losses on investments in unaffiliated common stocks and common stock of subsidiary are reported directly in capital and surplus and do not affect net income. The unrealized gains and unrealized losses on, and the cost and fair value of those investments and preferred stocks are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Cost** | **Gross**<br>**Unrealized**<br>**Gains** | **Gross**<br>**Unrealized**<br>**Losses** | **Fair**<br>**Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2025: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stocks | $**42674** | $**709** | $**(529)** | $**42854** |
| &nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $**451518** | $**248015** | $**(5783)** | $**693750** |
| &nbsp;&nbsp;&nbsp;Common stocks, subsidiary | **228982** | **332270** | **—** | **561252** |
|  | $**680500** | $**580285** | $**(5783)** | $**1255002** |
| At December 31, 2024: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stocks | $44250 | $448 | $(291) | $44407 |
| &nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $434016 | $214383 | $(8505) | $639894 |
| &nbsp;&nbsp;&nbsp;Common stocks, mutual funds | 125 | 104 |  | 229 |
| &nbsp;&nbsp;&nbsp;Common stocks, subsidiary | 228982 | 211038 |  | 440020 |
|  | $663123 | $425525 | $(8505) | $1080143 |

---

The following table shows unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** |
| | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** |
| | **Unrealized**<br>**Losses** | **Fair**<br>**Value** | **Unrealized**<br>**Losses** | **Fair**<br>**Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2025: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issuer credit obligations | $**(2389)** | $**135563** | $**(117251)** | $**1195499** |
| &nbsp;&nbsp;&nbsp;Asset backed securities | **(366)** | **123770** | **(42404)** | **570279** |
| Total debt securities | $**(2755)** | $**259333** | $**(159655)** | $**1765778** |
| &nbsp;&nbsp;&nbsp;Preferred stocks | $**(529)** | $**10962** | $**—** | $**—** |
| &nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $**(5783)** | $**50042** | $**—** | $**—** |

---

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** |
| | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** |
| | **Unrealized**<br>**Losses** | **Fair**<br>**Value** | **Unrealized**<br>**Losses** | **Fair**<br>**Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2024: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury securities and obligations of U.S. government corporations and agencies | $(1055) | $35697 | $(243) | $5514 |
| &nbsp;&nbsp;&nbsp;Debt securities issued by states of the U.S. and political subdivisions of the states | (11) | 3321 | (97) | 5566 |
| &nbsp;&nbsp;&nbsp;Non-U.S. government securities | (114) | 1893 | (8115) | 24192 |
| &nbsp;&nbsp;&nbsp;Corporate securities | (14140) | 516435 | (153710) | 1255277 |
| &nbsp;&nbsp;&nbsp;Commercial mortgage-backed securities<sup>(1)</sup> | (501) | 14537 | (24540) | 319291 |
| &nbsp;&nbsp;&nbsp;Residential mortgage-backed securities<sup>(1)</sup> | (505) | 24918 | (28752) | 202635 |
| &nbsp;&nbsp;&nbsp;Asset-backed securities<sup>(1)</sup> | (845) | 33913 | (28894) | 373717 |
| Total debt securities | $(17171) | $630714 | $(244351) | $2186192 |
| Preferred stocks | $(291) | $24902 | $— | $— |
| Common stocks, unaffiliated | $(8505) | $59002 | $— | $— |

---

 <sup>(1)</sup>Amounts relate to securities subject to SSAP 43R.

Investments that are impaired at December 31, 2025 and 2024, for which other-than-temporary impairments have not been recognized, consist mainly of corporate debt securities, asset-backed securities and residential mortgage-backed securities. The aggregated unrealized loss is approximately 7.5% and 8.5% of the carrying value of securities considered temporarily impaired at December 31, 2025 and 2024, respectively. At December 31, 2025, there were a total of 575 securities held that are considered temporarily impaired, 467 of which have been impaired for 12 months or longer. At December 31, 2024, there were a total of 790 securities held that are considered temporarily impaired, 569 of which have been impaired for 12 months or longer. The Company recorded other-than-temporary impairments on securities of $6.2 million, $8.6 million, and $16.7 million for the years ended December 31, 2025, 2024 and 2023, respectively.

The following is a list of each loan-backed security held at December 31, 2025, with a recognized other-than-temporary impairment (OTTI) for the year ended December 31, 2025, where the present value of

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

future cash flows expected to be collected was less than the amortized cost basis of the securities.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CUSIP** | **Book/<br>Adjusted Carrying Value Amortized Cost Before Current Period OTTI** | **Present Value of Future Cash Flows** | **Recognized Other- <br>Than- Temporary Impairment** | **Amortized Cost After Other-Than-Temporary Impairment** | **Fair Value** | **Date of Other-Than-Temporary Impairment** | | | | | | |
| **CUSIP** | **Book/<br>Adjusted Carrying Value Amortized Cost Before Current Period OTTI** | **Present Value of Future Cash Flows** | **Recognized Other- <br>Than- Temporary Impairment** | **Amortized Cost After Other-Than-Temporary Impairment** | **Fair Value** | **Date of Other-Than-Temporary Impairment** | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| **CUSIP** | **Book/<br>Adjusted Carrying Value Amortized Cost Before Current Period OTTI** | **Present Value of Future Cash Flows** | **Recognized Other- <br>Than- Temporary Impairment** | **Amortized Cost After Other-Than-Temporary Impairment** | **Fair Value** | **Date of Other-Than-Temporary Impairment** | For the year ended, December 31, 2025: | For the year ended, December 31, 2025: | For the year ended, December 31, 2025: |  |  |  |
| **CUSIP** | **Book/<br>Adjusted Carrying Value Amortized Cost Before Current Period OTTI** | **Present Value of Future Cash Flows** | **Recognized Other- <br>Than- Temporary Impairment** | **Amortized Cost After Other-Than-Temporary Impairment** | **Fair Value** | **Date of Other-Than-Temporary Impairment** |  |  |  |  |  |  |
| **CUSIP** | **Book/<br>Adjusted Carrying Value Amortized Cost Before Current Period OTTI** | **Present Value of Future Cash Flows** | **Recognized Other- <br>Than- Temporary Impairment** | **Amortized Cost After Other-Than-Temporary Impairment** | **Fair Value** | **Date of Other-Than-Temporary Impairment** | 173100-AR-9 | $292 | $141 | $151 | $141 | 12/31/2025 |
| 38379U-VS-2 | 294 | 154 | 140 | 154 | 154 | 12/31/2025 |  |  |  |  |  |  |
| Total | XXX | XXX | $291 | XXX | XXX | XXX |  |  |  |  |  |  |

---

The Company had no OTTI on loan-backed and structured securities for the year ended December 31, 2025, due to the intent to sell the security or the inability or lack of intent to retain the investment in the security for a period of time sufficient to recover the amortized cost basis.

A summary of the cost or amortized cost and fair value of the Company's debt securities at December 31, 2025, by contractual maturity, is as follows:

---

| | | |
|:---|:---|:---|
| | **Book/ Adjusted Carrying Value** | **Fair**<br>**Value** |
|  | *(In Thousands)* | *(In Thousands)* |
| Years to maturity: |  |  |
| &nbsp;&nbsp;&nbsp;One or less | $110866 | $110501 |
| &nbsp;&nbsp;&nbsp;After one through five | 942869 | 946846 |
| &nbsp;&nbsp;&nbsp;After five through ten | 759286 | 758107 |
| &nbsp;&nbsp;&nbsp;After ten | 954680 | 885233 |
| &nbsp;&nbsp;&nbsp;Mortgage-backed securities/asset-backed securities | 1033958 | 1001117 |
| Total | $3801659 | $3701804 |

---

The expected maturities may differ from contractual maturities in the foregoing table because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties and because asset-backed and mortgage-backed securities (including floating-rate securities) provide for periodic payments throughout their lives.

Proceeds from the sales of investments in debt securities during 2025, 2024 and 2023 were $465.2 million, $560.5 million, and $474.1 million; gross gains of $5.2 million, $5.3 million, and $2.4 million and gross losses of $12.8 million, $17.4 million, and $16.1 million were realized on those sales, respectively.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Proceeds from the sales of investments in equity securities during 2025, 2024 and 2023 were $135.3 million, $151.4 million, and $110.5 million; gross gains of $51.9 million, $42.4 million, and $23.5 million and gross losses of $2.3 million, $3.6 million, and $8.0 million were realized on those sales, respectively.

Realized capital gains (losses) are reported net of federal income taxes and amounts transferred to the IMR as follows for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Realized capital gains (losses) | $**30542** | $19333 | $(20640) |
| Less amount transferred to IMR (net of related taxes (benefits) of $(1441) in 2025, $(2180) in 2024, and $(3036) in 2023) | **(5422)** | (8203) | (11423) |
| Less federal income tax expense (benefit) on realized capital gains (losses) | **5712** | 4238 | (862) |
| Net realized capital gains (losses) | $**30252** | $23298 | $(8355) |

---

Net investment income was generated from the following for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Debt securities | $**193294** | $212438 | $226506 |
| Equity securities | **19015** | 67952 | 20185 |
| Mortgage loans | **48218** | 42609 | 42420 |
| Policy loans | **4624** | 5184 | 5281 |
| Cash, cash equivalents and short-term investments | **2331** | 4979 | 3063 |
| Other invested assets | **15762** | 11972 | 10963 |
| Derivatives | **39720** | 8725 | 3101 |
| Other | **(1367)** | (630) | (604) |
| Gross investment income | **321597** | 353229 | 310915 |
| Investment expenses | **4159** | 4552 | 4612 |
| Net investment income | $**317438** | $348677 | $306303 |

---

The Company's investments in mortgage loans principally involve commercial real estate. At December 31, 2025, 39.5% of such mortgages, or $376.2 million, involved properties located in Texas, Florida, and Ohio. Such investments consist primarily of first-mortgage liens on completed income-producing properties. The aggregate mortgage outstanding to any one borrower does not exceed $44.0 million. During 2025, the respective minimum and maximum lending rates for mortgage loans issued were 6.17% and 6.17%. At the issuance of a loan, the percentage of any one loan to value of security, exclusive of insured, guaranteed or purchase money mortgage did not exceed 80.0%. During 2025, the Company did not reduce interest rates on any outstanding mortgages.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**Derivative Instruments**

The Company invests in derivatives as risk management for its equity indexed products. The exposure to credit risk on its interest rate floors and option positions is the risk of loss from a counterparty failing to perform according to the terms of the contract. That exposure includes settlement risk (i.e., the risk that the counterparty defaults after the Company has delivered funds or securities under terms of the contract) that would result in an accounting loss and replacement cost risk (i.e., the cost to replace the contract at current market rates should the counterparty default prior to settlement date). To limit exposure associated with counterparty nonperformance on its option positions, the Company limits its exposure to individual counterparties to 2% of admitted assets.

Pursuant to the adoption of OAC 3901-1-67 (discussed in Note 1, Basis of Presentation), the Company changed the reporting for product hedging derivatives by electing to record changes in, and settlement of, eligible derivatives through net investment income; previously, the Company had recorded changes in, and settlement of, eligible derivatives through unrealized gains/losses and realized gains/losses, respectively.

The Company markets equity indexed annuities. The risk associated with these products is that the ultimate benefit paid could be higher than the return earned from the underlying assets. The Company utilizes custom and exchange-traded call options to economically hedge the S&P 500 index and other indices exposure embedded in these products with a net notional amount of $719.4 million and $910.4 million at December 31, 2025 and 2024, respectively. The Company purchases and writes call options to correlate with changes in the annuity features due to movements in the S&P 500 index and other indices. At the beginning of these contracts, a premium is either paid or received for transferring the related risk. The Company retains basis risk and risk associated with actual versus expected assumptions for mortality and lapse rates. The Company does not apply hedge accounting treatment to these call options. The Company recognizes changes in the fair value of these call options and the related gains/losses from terminations, maturities or expirations through net investment income. The amount recognized in net investment income was $39.7 million, $8.7 million, and $3.1 million for the years ended December 31, 2025, 2024, and 2023, respectively.

The Company has entered into a collateral agreement with the counterparty whereby under certain conditions the counterparty is required to post assets on the Company's behalf. The posted amount is equal to the difference between the net positive fair value of the option and the agreed upon thresholds that are based on the credit rating of the counterparty. Inversely, if the net fair value of the option is negative, then the Company may be required to post assets using similar thresholds. At December 31, 2025 and 2024, $60.3 million and $36.0 million, respectively, of cash collateral had been posted to the Company.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The Company markets variable annuities with guaranteed living withdrawal benefits. The risk associated with these products is that unfavorable fund performance coupled with withdrawals and contract fees could deplete the contract holder's account value, at which point the remaining guaranteed withdrawals would be satisfied by the Company's general account assets. The Company utilizes short futures to dynamically hedge changes in liability related to the S&P 500 index and other indices exposure embedded in these products. The Company enters into 90-day short futures contracts to correlate with changes in the liability value due to movements in the S&P 500 index and other indices. These futures contracts are entered into with minimal transaction costs, and changes in the value of the underlying indexes will result in increases or decreases in the value of the short futures contracts in the same direction as the changes in the liability. The Company retains basis risk, risk associated with actual versus expected assumptions for mortality and lapse rates, as well as risk of changes in the liability value due to interest rate volatility and equity volatility. The net gain (loss) recognized in net income within realized gains and losses during the reporting period related to the futures was $(3.9) million, $(4.4) million, and $(4.2) million for the years ended December 31, 2025, 2024, and 2023, respectively.

Information related to the Company's derivative instruments as described above and the effects of offsetting on the balance sheet consisted of the following for the years ended December 31:

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
|  | *(In Thousands)* | *(In Thousands)* |
| Derivative assets: |  |  |
| &nbsp;&nbsp;&nbsp;Gross amount of recognized assets | $**108858** | $78388 |
| &nbsp;&nbsp;&nbsp;Gross amounts offset | **—** |  |
| Net amount of assets | $**108858** | $78388 |
| Derivative liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Gross amount of recognized liabilities | $**(37591)** | $(30561) |
| &nbsp;&nbsp;&nbsp;Gross amounts offset | **—** |  |
| Net amount of liabilities | $**(37591)** | $(30561) |

---

**3. Fair Values of Financial Instruments**

Included in various investment-related line items in the financial statements are certain financial instruments carried at fair value. Other financial instruments are periodically measured at fair value such as when impaired or, for certain bonds and preferred stocks, when carried at the lower of cost or market.

The Company uses fair value measurements to record the fair value of certain assets and liabilities and to estimate the fair value of financial instruments not recorded at fair value but required to be disclosed at fair value. Certain financial instruments, particularly policyholder liabilities other than investment-type contracts, are excluded from this fair value discussion.

Fair value is defined as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The Company's financial assets and liabilities carried at fair value have been classified, for disclosure purposes, based on the following hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three levels. The

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Company's policy is to recognize transfers in and transfers out of levels at the beginning of the quarterly reporting period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities. The Company's Level 1 assets and liabilities primarily include exchange-traded equity securities and mutual funds, including those which are part of the Company's separate account assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. The Company's Level 2 assets and liabilities primarily include call options, preferred stock, debt securities that do not qualify as bonds, NAIC 6 rated corporate bonds, and initially rated NAIC 6 residential mortgage-backed securities, including those which are part of the Company's separate account assets. The Company determined fair value through the use of third-party pricing services utilizing market observable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - Significant unobservable inputs for the asset or liability. The Company's Level 3 assets and liabilities include certain call options. The fair values of these instruments are determined through the use of valuation models that utilize significant unobservable inputs. Also included in Level 3 assets are common stocks being priced by broker quotes.

Fair value estimates are made at a specific point in time, based on available market information and judgments about the financial instrument, including discount rates, estimates of timing, amount of expected future cash flows and the credit standing of the issuer. Such estimates do not consider the tax impact of the realization of unrealized gains or losses.

For Level 3 investments, the fair value estimates cannot be substantiated by comparison to independent markets. In addition, the disclosed fair value may not be realized in the immediate settlement of the financial instrument.

Certain investments utilize net asset value (NAV) as a practical expedient for fair value. These investments are reported separately from the hierarchy. Common stock utilizing NAV consists of an investment in a business development corporation as defined by the Investment Company Act of 1940. The investment can be sold or transferred with prior consent from the corporation. The NAV for this investment is $29.68. The Company does not intend to sell any investments utilizing NAV.

As described below, certain fair values are determined through the use of third-party pricing services. Management does not adjust prices received from third parties; however, the Company does analyze the third-party pricing services' valuation methodologies and related inputs and performs additional evaluation to determine the appropriate level within the fair value hierarchy. The Company performs annual due diligence of third-party pricing services, which includes assessing the vendor's valuation qualifications, control environment, analysis of asset class-specific valuation methodologies and understanding of market observable assumptions and unobservable assumptions, if any, employed in the valuation methodology. Care should be exercised in deriving conclusions about the Company's business, its value or financial position based on the fair value information of financial instruments presented below. The following discussion describes the valuation methodologies utilized by the Company for assets and liabilities measured or disclosed at fair value.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

*Debt and Equity Securities*

The fair values of debt securities and asset/mortgage-backed securities have been determined through the use of third-party pricing services utilizing market observable inputs. Private placement securities trading in less liquid or illiquid markets with limited or no pricing information are valued using either broker quotes or by discounting the expected cash flows using current market-consistent rates applicable to the yield, credit quality and maturity of each security.

The fair values of actively traded equity securities and exchange traded funds (including exchange traded funds with debt like characteristics) have been determined utilizing publicly quoted prices obtained from third-party pricing services. The fair values of certain equity securities for which no publicly quoted prices are available have been determined through the use of third-party pricing services utilizing market observable inputs. Actively traded mutual funds are valued using the net asset values of the funds. The fair value of preferred stock included in Level 3 has been determined by discounting the expected cash flows using current market-consistent rates applicable to the yield. The fair value of common stock included in Level 3 has been determined by broker quotes.

*Mortgage Loans*

The fair values for mortgage loans, consisting principally of commercial real estate loans, are estimated using discounted cash flow analyses, using interest rates currently being offered for similar loans collateralized by properties with similar investment risk. The fair values for mortgage loans in default are established at the lower of the fair value of the underlying collateral less costs to sell or the carrying amount of the loan.

*Cash, Cash Equivalents and Short-Term Investments*

The fair values of cash, cash equivalents and short-term investments are based on quoted market prices or stated amounts.

*Derivative Instruments*

The fair values of free-standing derivative positions, primarily call options, are determined through the use of third-party pricing services utilizing market observable inputs or valuation models incorporating significant unobservable inputs, including projected cash flows, applicable swap curves and implied volatilities. Derivatives included in Level 1 represent the cash deposits with brokers relating to futures. The fair value is based upon the stated amount.

*Securities Lending Reinvested Collateral Assets*

The fair values of securities lending reinvested collateral assets are determined through the use of third-party sources utilizing publicly quoted prices.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

*Other Invested Assets*

Other invested assets primarily include surplus debentures and debt securities that do not qualify as a bond for which fair values have been determined through the use of third-party pricing services utilizing market observable inputs.

*Assets Held in Separate Accounts*

Assets held in separate accounts primarily include debt securities, equity securities, mutual funds, surplus notes, stock warrants, and mortgage loans. The fair values of these assets have been determined using the same methodologies as similar assets held in the general account.

*Life and Annuity Reserves for Investment-Type Contracts and Deposit Fund Liabilities and Fixed-Indexed Annuity Contracts*

The fair value of liabilities for investment-type contracts is based on the present value of estimated liability cash flows, which are discounted using rates that incorporate risk-free rates and margins for the Company's own credit spread and the riskiness of cash flows. Key assumptions to the cash flow model include the timing of policyholder withdrawals and the level of interest credited to contract balances. Fair values for insurance reserves are not required to be disclosed. However, the estimated fair values of all insurance reserves and investment contracts are taken into consideration in the Company's overall management of interest rate risk.

The fair value of liabilities for fixed indexed annuities is based on embedded derivatives that have been bifurcated from the host contract. The fair value of embedded derivatives is calculated based on actuarial and capital market assumptions reflecting the projected cash flows over the life of the contract and incorporating expected policyholder behavior. The host is adjusted for acquisition costs with revised accretion rates.

*Cash Collateral Payable* 

The payable represents the obligation to return cash collateral the Company has received relating to derivative instruments. The fair value is based upon the stated amount.

*Securities Lending Liability*

The liability represents the Company's obligation to return collateral related to securities lending transactions. The liability is short-term in nature and therefore, the fair value of the obligation approximates the carrying amount.

*Separate Account Liabilities* 

Certain separate account liabilities are classified as investment contracts and are carried at an amount equal to the related separate account assets. Carrying value is a reasonable estimate of the fair value as it represents the exit value as evidenced by withdrawal transactions between contract holders and the Company.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Assets and liabilities measured at fair value on a recurring basis are outlined below:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Assets/(Liabilities) Measured at Fair Value** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** | |
| | **Assets/(Liabilities) Measured at Fair Value** | **Level 1** | **Level 2** | **Level 3** |<br>**NAV** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |  |
| **At December 31, 2025** |  |  |  |  |  |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds, issuer credit obligations | $**137**  | $**—**  | $**137**  | $**—**  | $**—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds, asset-backed securities | **380**  | **—**  | **380**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | **663776**  | **646798**  | **—**  | **185**  | **16793**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | **42854**  | **—**  | **42854**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;Other invested assets, debt securities that do not qualify as bonds | **21626**  | **—**  | **21626**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative assets | **108858**  | **2230**  | **56183**  | **50445**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets\* | **762424**  | **755097**  | **7327**  | **—**  | **—**  |
| Total assets | $**1600055**  | $**1404125**  | $**128507**  | $**50630**  | $**16793**  |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative liabilities | $**(37591)** | $**—**  | $**(37591)** | $**—**  | $**—**  |

---

\* Separate account assets measured at fair value in this table do not include assets backing market value adjusted annuities, which are held at amortized cost, with the exception of securities rated NAIC 6 where the security's fair value is below amortized cost.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Assets/(Liabilities) Measured at Fair Value** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** | |
| | **Assets/(Liabilities) Measured at Fair Value** | **Level 1** | **Level 2** | **Level 3** |<br>**NAV** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |  |
| **At December 31, 2024** |  |  |  |  |  |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds, industrial & misc. | $1530  | $—  | $1530  | $—  | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage-backed securities | 956  | —  | 956  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | 604829  | 588030  | —  | —  | 16799  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks, mutual funds | 229  | 229  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | 44407  | —  | 44407  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative assets | 78388  | 2149  | 45203  | 31036  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets\* | 774488  | 774115  | 373  | —  | —  |
| Total assets | $1504827  | $1364523  | $92469  | $31036  | $16799  |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative liabilities | $(30561) | $—  | $(30561) | $—  | $—  |

---

\* Separate account assets measured at fair value in this table do not include assets backing market value adjusted annuities, which are held at amortized cost, with the exception of securities rated NAIC 6 where the security's fair value is below amortized cost.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2025, is as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Beginning Asset/(Liability) as of January 1, 2025** | **Total Realized/Unrealized Gains (Losses) Included in:** | **Total Realized/Unrealized Gains (Losses) Included in:** | **Purchases, Sales, Issuances and Settlements** | **Transfers Into Level 3** | **Transfers Out of Level 3** | **Ending Asset/(Liability) as of December 31, 2025** |
| | **Beginning Asset/(Liability) as of January 1, 2025** | **Net Income** | **Surplus** | **Purchases, Sales, Issuances and Settlements** | **Transfers Into Level 3** | **Transfers Out of Level 3** | **Ending Asset/(Liability) as of December 31, 2025** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Common stocks, unaffiliated | $**—**  | $**—**  | $**—**  | $**185**  | $**—**  | $**—**  | $**185**  |
| &nbsp;&nbsp;Derivative assets | **31036**  | **29408**  | **—**  | **(9999)** | **—**  | **—**  | **50445**  |
| Total assets | $**31036**  | $**29408**  | $**—**  | $**(9814)** | $**—**  | $**—**  | $**50630**  |

---

The gross purchases, issuances, sales and settlements included in the reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Purchases** | **Issuances** | **Sales** | **Settlements** | **Net Purchases, Issuances, Sales and Settlements** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $**185**  | $**—**  | $**—**  | $**—**  | $**185**  |
| &nbsp;&nbsp;&nbsp;Derivative assets | **12903**  | **—**  | **—**  | **(22902)** | **(9999)** |
| Total assets | $**13088**  | $**—**  | $**—**  | $**(22902)** | $**(9814)** |

---

The reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2024, is as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Beginning Asset/(Liability) as of January 1, 2024** | **Total Realized/Unrealized Gains (Losses) Included in:** | **Total Realized/Unrealized Gains (Losses) Included in:** | **Purchases, Sales, Issuances and Settlements** | **Transfers Into Level 3** | **Transfers Out of Level 3** | **Ending Asset/(Liability) as of December 31, 2024** |
| | **Beginning Asset/(Liability) as of January 1, 2024** | **Net Income** | **Surplus** | **Purchases, Sales, Issuances and Settlements** | **Transfers Into Level 3** | **Transfers Out of Level 3** | **Ending Asset/(Liability) as of December 31, 2024** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Derivative assets | $29485  | $3849  | $—  | $(2298) | $—  | $—  | $31036  |

---

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The gross purchases, issuances, sales and settlements included in the reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2024, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Purchases** | **Issuances** | **Sales** | **Settlements** | **Net Purchases, Issuances, Sales and Settlements** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Derivative assets | $16835  | $—  | $—  | $(19133) | $(2298) |

---

The following table provides a summary of the significant unobservable inputs used in the fair value measurements developed by the Company or reasonably available to the Company of Level 3 assets and liabilities at (in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
| **December 31, 2025** | | | | |
| **Security Type** | **Fair Value** | **Valuation Technique** | **Unobservable Input** | **Input** |
| Derivative assets | $**50445** | Black-Scholes-Merton Model<br>Monte Carlo Model | Implied Volatility | **6.0% - 34.1%** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **December 31, 2024** | | | | |
| **Security Type** | **Fair Value** | **Valuation Technique** | **Unobservable Input** | **Input** |
| Derivative assets | $31036 | Black-Scholes-Merton Model<br>Monte Carlo Model | Implied Volatility | 6.1% - 36.3% |

---

In isolation, significant increases (decreases) in the implied volatility would typically result in a significantly higher (lower) fair value measurement for Level 3 derivative assets and Level 3 derivative liabilities.

The Company did not have any significant assets or liabilities measured at fair value on a nonrecurring basis as of December 31, 2025 and 2024.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The carrying amounts and fair values of the Company's significant financial instruments follow:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Carrying Amount** | **Fair Value** | **Level 1** | **Level 2** | **Level 3** | **NAV** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issuer credit obligations | $**2767701**  | $**2700687**  | $**36552**  | $**2660670**  | $**3465**  | $**—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | **1033958**  | **1001117**  | **—**  | **999544**  | **1573**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated\*\* | **693750**  | **693750**  | **676772**  | **—**  | **185**  | **16793**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | **42854**  | **42854**  | **—**  | **42854**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans | **952956**  | **957294**  | **—**  | **—**  | **957294**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments  | **73930**  | **73940**  | **73940**  | **—**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Surplus notes | **23081**  | **22972**  | **—**  | **22972**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt securities that do not qualify as bonds | **30999**  | **31010**  | **—**  | **31010**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative assets | **108858**  | **108858**  | **2230**  | **56183**  | **50445**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | **1546742**  | **1545213**  | **755157**  | **781737**  | **8319**  | **—**  |
| Liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Life and annuity reserves for investment-type contracts and deposit fund liabilities | $**(1140390)** | $**(1118026)** | $**—**  | $**—**  | $**(1118026)** | $**—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed-indexed annuity contracts | **(1489635)** | **(1415642)** | **—**  | **—**  | **(1415642)** | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative liabilities | **(37591)** | **(37591)** | **—**  | **(37591)** | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash collateral payable | **(60330)** | **(60330)** | **—**  | **(60330)** | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account liabilities\* | **(781404)** | **(751993)** | **—**  | **—**  | **(751993)** | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities lending liability | **(113977)** | **(113977)** | **—**  | **(113977)** | **—**  | **—**  |

---

\* Variable annuity contracts are considered insurance contracts and therefore, are not included in separate account liabilities for purposes of this disclosure.

\*\* Includes FHLB common stock, which is held at cost.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Carrying Amount** | **Fair Value** | **Level 1** | **Level 2** | **Level 3** | **NAV** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds | $4213722  | $3990786  | $41809  | $3922367  | $26610  | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated\*\* | 639894  | 639894  | 623095  | —  | —  | 16799  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual funds | 229  | 229  | 229  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | 44407  | 44407  | —  | 44407  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans | 979563  | 951785  | —  | —  | 951785  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments | 20866  | 20859  | 20859  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets, surplus notes | 19927  | 19465  | —  | 19465  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities lending reinvested collateral assets | —  | —  | —  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative assets | 78388  | 78388  | 2149  | 45203  | 31036  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | 1595230  | 1572811  | 774063  | 759647  | 39101  | —  |
| Liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Life and annuity reserves for investment-type contracts and deposit fund liabilities | $(1209816) | $(1176231) | $—  | $—  | $(1176231) | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed-indexed annuity contracts | (1606026) | (1517008) | —  | —  | (1517008) | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative liabilities | (30561) | (30561) | —  | (30561) | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash collateral payable | (36040) | (36040) | —  | (36040) | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account liabilities\* | (837803) | (820226) | —  | —  | (820226) | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities lending liability | (132551) | (132551) | —  | (132551) | —  | —  |

---

\* Variable annuity contracts are considered insurance contracts and therefore, are not included in separate account liabilities for purposes of this disclosure.

\*\* Includes FHLB common stock, which is held at cost.

**4. Related-Party Transactions**

At December 31, 2025 and 2024, the Company had $333.1 million and $222.5 million, respectively, invested in various private debt funds managed by Fort Washington.

In 2025, the Company purchased $79.1 million of fixed income securities managed by Fort Washington.

In November 2025, the Company paid a $100.0 million ordinary dividend to Western and Southern. The dividend was in the form of cash.

In October 2024, the Company paid a $200.0 million dividend to Western and Southern. Of the total dividend paid, $7.7 million was ordinary and $192.3 million was extraordinary. The dividend was in the form of $160.3 million in cash and $39.7 million in equity securities.

In June 2024, the Company received a $47.0 million ordinary dividend from National. The dividend was in the form of cash.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

In December 2023, the Company paid a $125.0 million ordinary dividend to Western and Southern. The dividend was in the form of $75.0 million and $50.0 million in cash and equity securities, respectively.

The Company had $0.3 million and $0.7 million receivable from parent, subsidiaries and affiliates as of December 31, 2025 and 2024, respectively. The Company had $3.5 million and $0.2 million payable to parent, subsidiaries and affiliates as of December 31, 2025 and 2024, respectively. The terms of the settlement generally require that these amounts be settled in cash within 30 days.

Western and Southern guarantees the payment of the Company's policyholder obligations. In the unlikely event the guarantee would be triggered, Western and Southern may be permitted to take control of the Company's assets to recover all or a portion of the amounts paid under the guarantee.

**5. Reinsurance**

Certain premiums and benefits are assumed from and ceded to other insurance companies under various reinsurance agreements. The ceded reinsurance agreements provide the Company with increased capacity to write larger risks and maintain its exposure to loss within its capital resources.

The effects of reinsurance on premiums, annuity considerations and deposit-type funds are as follows for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Direct premiums | $**298916** | $291543 | $436835 |
| Assumed premiums: |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliates | **—** |  |  |
| &nbsp;&nbsp;&nbsp;Nonaffiliates | **77** | 80 | 78 |
| Ceded premiums: |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliates | **—** |  |  |
| &nbsp;&nbsp;&nbsp;Nonaffiliates | **(8948)** | (6755) | (6980) |
| Net premiums | $**290045** | $284868 | $429933 |

---

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The Company's ceded reinsurance arrangements impacted certain other items in the accompanying financial statements by the following amounts as of and for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Policy and contract claims: |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliates | $**—** | $— | $— |
| &nbsp;&nbsp;&nbsp;Nonaffiliates | **7296** | 5136 | 5674 |
| Policy and contract liabilities: |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliates | **—** |  |  |
| &nbsp;&nbsp;&nbsp;Nonaffiliates | **—** |  | 488 |
| Amounts recoverable on reinsurance contracts: |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliates | **—** |  |  |
| &nbsp;&nbsp;&nbsp;Nonaffiliates | **1922** | 1249 | 1364 |

---

In 2025, 2024 and 2023, the Company did not commute any ceded reinsurance.

At December 31, 2025, the Company has no reserves ceded to unauthorized reinsurers. Amounts payable or recoverable for reinsurance on policy and contract liabilities are not subject to periodic or maximum limits.

Neither the Company nor any of its related parties, control directly or indirectly, any reinsurers with whom the Company conducts business. No policies issued by the Company have been reinsured with a foreign company, which is controlled, either directly or indirectly, by a party not primarily engaged in the business of insurance. At December 31, 2025, there are no reinsurance agreements in effect such that the amount of losses paid or accrued exceed the total direct premium collected. The Company remains obligated for amounts ceded in the event that the reinsurers do not meet their obligations.

The Company has certain reinsurance agreements in effect under which the reinsurer may unilaterally cancel the agreement under certain conditions. In addition, these reinsurance agreements reinsure contracts that had existing reserves as of the effective date of the agreements. There are no reinsurance credits associated with these agreements. There would be a reduction in surplus of $9.9 million if these reinsurance agreements were cancelled.

**6. Federal Income Taxes**

The Company is included in the consolidated federal income tax return of Western and Southern. The Company had a receivable (payable) from (to) Western and Southern in the amount of $(9.0) million and $10.9 million at December 31, 2025 and 2024, respectively.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The components of the net deferred tax asset (liability) at December 31 are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **12/31/2025** | **12/31/2025** | **12/31/2025** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(1)** | **(2)** | **(3)** |
|  |  |  |  | **(Col 1+2)** |
|  |  | **Ordinary** | **Capital** | **Total** |
| (a) | Gross deferred tax assets | $**60750**  | $**13006**  | $**73756**  |
| (b) | Statutory valuation allowance adjustments | **—**  | **—**  | **—**  |
| (c) | Adjusted gross deferred tax assets (a - b) | **60750**  | **13006**  | **73756**  |
| (d) | Deferred tax assets nonadmitted | **—**  | **—**  | **—**  |
| (e) | Subtotal net admitted deferred tax assets (c - d) | **60750**  | **13006**  | **73756**  |
| (f) | Deferred tax liabilities | **9015**  | **52801**  | **61816**  |
| (g) | Net admitted deferred tax asset/(net deferred tax liability) (e - f) | $**51735**  | $**(39795)** | $**11940**  |
|  |  | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(4)** | **(5)** | **(6)** |
|  |  |  |  | **(Col 4+5)** |
|  |  | **Ordinary** | **Capital** | **Total** |
| (a) | Gross deferred tax assets | $54965  | $10321  | $65286  |
| (b) | Statutory valuation allowance adjustments | —  | —  | —  |
| (c) | Adjusted gross deferred tax assets (a - b) | 54965  | 10321  | 65286  |
| (d) | Deferred tax assets nonadmitted | —  | —  | —  |
| (e) | Subtotal net admitted deferred tax assets (c - d) | 54965  | 10321  | 65286  |
| (f) | Deferred tax liabilities | 11917  | 46196  | 58113  |
| (g) | Net admitted deferred tax asset/(net deferred tax liability) (e - f) | $43048  | $(35875) | $7173  |

---

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **Change** | **Change** | **Change** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(7)** | **(8)** | **(9)** |
|  |  |  |  | **(Col 7+8)** |
|  |  | **Ordinary** | **Capital** | **Total** |
| (a) | Gross deferred tax assets | $5785  | $2685  | $8470  |
| (b) | Statutory valuation allowance adjustments | —  | —  | —  |
| (c) | Adjusted gross deferred tax assets (a - b) | 5785  | 2685  | 8470  |
| (d) | Deferred tax assets nonadmitted | —  | —  | —  |
| (e) | Subtotal net admitted deferred tax assets (c - d) | 5785  | 2685  | 8470  |
| (f) | Deferred tax liabilities | (2902) | 6605  | 3703  |
| (g) | Net admitted deferred tax asset/(net deferred tax liability) (e - f) | $8687  | $(3920) | $4767  |
|  |  | **12/31/2025** | **12/31/2025** | **12/31/2025** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(1)** | **(2)** | **(3)** |
|  |  |  |  | **(Col 1+2)** |
| Admission Calculation Components SSAP No. 101 | Admission Calculation Components SSAP No. 101 | **Ordinary** | **Capital** | **Total** |
| (a) | Federal income taxes paid in prior years recoverable through loss carrybacks | $**—**  | $**11918**  | $**11918**  |
| (b) | Adjusted gross deferred tax assets expected to be realized (excluding the amount of deferred tax assets from (a) above) after application of the threshold limitation (the lesser of (b)1 and (b)2 below) | **18940**  | **—**  | **18940**  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Adjusted gross deferred tax assets expected to be realized following the balance sheet date. | **18940**  | **—**  | **18940**  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Adjusted gross deferred tax assets allowed per limitation threshold. | **XXX** | **XXX** | **210003**  |
| (c) | Adjusted gross deferred tax assets (excluding the amount of deferred tax assets from (a) and (b) above) offset by gross deferred tax liabilities | **41810**  | **1088**  | **42898**  |
| (d) | Deferred tax assets admitted as the result of application of SSAP No. 101 Total ((a) + (b) + (c)) | $**60750**  | $**13006**  | $**73756**  |

---

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(4)** | **(5)** | **(6)** |
|  |  |  |  | **(Col 4+5)** |
| Admission Calculation Components SSAP No. 101 | Admission Calculation Components SSAP No. 101 | **Ordinary** | **Capital** | **Total** |
| (a) | Federal income taxes paid in prior years recoverable through loss carrybacks | $—  | $10319  | $10319  |
| (b) | Adjusted gross deferred tax assets expected to be realized (excluding the amount of deferred tax assets from (a) above) after application of the threshold limitation (the lesser of (b)1 and (b)2 below) | 14483  | —  | 14483  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Adjusted gross deferred tax assets expected to be realized following the balance sheet date. | 14483  | —  | 14483  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Adjusted gross deferred tax assets allowed per limitation threshold. | XXX | XXX | 191831  |
| (c) | Adjusted gross deferred tax assets (excluding the amount of deferred tax assets from (a) and (b) above) offset by gross deferred tax liabilities | 40482  | 2  | 40484  |
| (d) | Deferred tax assets admitted as the result of application of SSAP No. 101 Total ((a) + (b) + (c)) | $54965  | $10321  | $65286  |
|  |  | **Change** | **Change** | **Change** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(7)** | **(8)** | **(9)** |
|  |  |  |  | **(Col 7+8)** |
| Admission Calculation Components SSAP No. 101 | Admission Calculation Components SSAP No. 101 | **Ordinary** | **Capital** | **Total** |
| (a) | Federal income taxes paid in prior years recoverable through loss | $—  | $1599  | $1599  |
| (b) | Adjusted gross deferred tax assets expected to be realized (excluding the amount of deferred tax assets from (a) above) after application of the threshold limitation (the lesser of (b)1 and (b)2 below) | 4457  | —  | 4457  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Adjusted gross deferred tax assets expected to be realized following the balance sheet date. | 4457  | —  | 4457  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Adjusted gross deferred tax assets allowed per limitation threshold. | XXX | XXX | 18172  |
| (c) | Adjusted gross deferred tax assets (excluding the amount of deferred tax assets from (a) and (b) above) offset by gross deferred tax liabilities | 1328  | 1086  | 2414  |
| (d) | Deferred tax assets admitted as the result of application of SSAP No. 101 Total ((a) + (b) + (c)) | $5785  | $2685  | $8470  |

---

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | |
|:---|:---|:---|:---|
| | | **2025** | **2024** |
| (a) | Ratio percentage used to determine recovery period and threshold limitation amount | **866%** | 848% |
|  |  | **12/31/2025** | **12/31/2025** |
|  |  | **(1)** | **(2)** |
| Impact of tax planning strategies | Impact of tax planning strategies | **Ordinary** | **Capital** |
|  |  | *(In Thousands)* | *(In Thousands)* |
| (a) | Adjusted gross DTAs amount | **$60750** | **$13006** |
| (b) | Percentage of adjusted gross DTAs by tax character attributable to the impact of tax planning strategies. | **—%** | **16.16%** |
| (c) | Net admitted adjusted gross DTAs amount | **$60750** | **$13006** |
| (d) | Percentage of net admitted adjusted gross DTAs by tax character attributable to the impact of tax planning strategies. | **—%** | **16.16%** |
|  |  | **12/31/2024** | **12/31/2024** |
|  |  | **(3)** | **(4)** |
| Impact of tax planning strategies | Impact of tax planning strategies | **Ordinary** | **Capital** |
|  |  | *(In Thousands)* | *(In Thousands)* |
| (a) | Adjusted gross DTAs amount | $54965 | $10321 |
| (b) | Percentage of adjusted gross DTAs by tax character attributable to the impact of tax planning strategies. | —% | 15.81% |
| (c) | Net admitted adjusted gross DTAs amount | $54965 | $10321 |
| (d) | Percentage of net admitted adjusted gross DTAs by tax character attributable to the impact of tax planning strategies. | —% | 15.81% |
|  |  | **Change** | **Change** |
|  |  | **(5)** | **(6)** |
|  |  | **(Col 1-3)**  | **(Col 2-4)**  |
| Impact of tax planning strategies | Impact of tax planning strategies | **Ordinary** | **Capital** |
|  |  | *(In Thousands)* | *(In Thousands)* |
| (a) | Adjusted gross DTAs amount | $5785 | $2685 |
| (b) | Percentage of adjusted gross DTAs by tax character attributable to the impact of tax planning strategies. | —% | 0.35% |
| (c) | Net admitted adjusted gross DTAs amount | $5785 | $2685 |
| (d) | Percentage of net admitted adjusted gross DTAs by tax character attributable to the impact of tax planning strategies. | —% | 0.35% |

---

The Company's tax planning strategies do not include the use of reinsurance.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Current income taxes incurred consist of the following major components:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | **12/31/2025** | **12/31/2024** | **12/31/2023** |
| (1) | Current income tax | Current income tax | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  | (a) | Federal | $**23763**  | $10783  | $12736  |
|  | (b) | Foreign | **1**  | —  | —  |
|  | (c) | Subtotal | **23764**  | 10783  | 12736  |
|  | (d) | Federal income tax on net capital gains | **5712**  | 4238  | (862) |
|  | (e) | Utilization of capital loss carryforwards | **—**  | —  | —  |
|  | (f) | Other | **—**  | —  | —  |
|  | (g) | Federal and foreign income taxes incurred | $**29476**  | $15021  | $11874  |
|  |  |  | **(1)** | **(2)** | **(3)** |
|  |  |  |  |  | **(Col 1-2)** |
| (2) | Deferred tax assets: | Deferred tax assets: | **12/31/2025** | **12/31/2024** | **Change** |
|  | (a) | Ordinary | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | (1) Discounting of unpaid losses | $**—**  | $—  | $—  |
|  |  | (2) Unearned premium revenue | **—**  | —  | —  |
|  |  | (3) Policyholder reserves | **53179**  | 47023  | 6156  |
|  |  | (4) Investments | **12**  | 12  | —  |
|  |  | (5) Deferred acquisition costs | **6859**  | 6697  | 162  |
|  |  | (6) Policyholder dividends accrual | **—**  | —  | —  |
|  |  | (7) Fixed assets | **—**  | —  | —  |
|  |  | (8) Compensation and benefits accrual | **22**  | 23  | (1) |
|  |  | (9) Pension accrual | **—**  | —  | —  |
|  |  | (10) Receivables - nonadmitted | **9**  | 125  | (116) |
|  |  | (11) Net operating loss carryforward | **—**  | —  | —  |
|  |  | (12) Tax credit carryforward | **—**  | —  | —  |
|  |  | (13) Other | **669**  | 1085  | (416) |
|  |  | (99) Subtotal | **60750**  | 54965  | 5785  |
|  | (b) | Statutory valuation allowance adjustment | **—**  | —  | —  |
|  | (c) | Nonadmitted | **—**  | —  | —  |
|  | (d) | Admitted ordinary deferred tax assets (2a99 - 2b - 2c) | **60750**  | 54965  | 5785  |
|  | (e) | Capital |  |  |  |
|  |  | (1) Investments | **13006**  | 10321  | 2685  |
|  |  | (2) Net capital loss carryforward | **—**  | —  | —  |
|  |  | (3) Real estate | **—**  | —  | —  |
|  |  | (4) Other | **—**  | —  | —  |
|  |  | (99) Subtotal | **13006**  | 10321  | 2685  |
|  | (f) | Statutory valuation allowance adjustment | **—**  | —  | —  |
|  | (g) | Nonadmitted | **—**  | —  | —  |
|  | (h) | Admitted capital deferred tax assets (2e99- 2f - 2g) | **13006**  | 10321  | 2685  |
|  | (i) | Admitted deferred tax assets (2d + 2h) | $**73756**  | $65286  | $8470  |

---

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | **(1)**<br><br>**12/31/2025** | **(2)**<br><br>**12/31/2024** | **(3)**<br>**(Col 1-2)**<br>**Change** |
| (3) | Deferred tax liabilities: | Deferred tax liabilities: | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  | (a) | Ordinary |  |  |  |
|  |  | (1) Investments | $**8368**  | $7302  | $1066  |
|  |  | (2) Fixed assets | **—**  | —  | —  |
|  |  | (3) Deferred and uncollected premium | **—**  | —  | —  |
|  |  | (4) Policyholder reserves | **647**  | 4615  | (3968) |
|  |  | (5) Other | **—**  | —  | —  |
|  |  | (99) Subtotal | **9015**  | 11917  | (2902) |
|  | (b) | Capital |  |  |  |
|  |  | (1) Investments | **52801**  | 46196  | 6605  |
|  |  | (2) Real estate | **—**  | —  | —  |
|  |  | (3) Other | **—**  | —  | —  |
|  |  | (99) Subtotal | **52801**  | 46196  | 6605  |
|  | (c) | Deferred tax liabilities (3a99 + 3b99) | $**61816**  | $58113  | $3703  |
| (4) | Net deferred tax assets/liabilities (2i - 3c)  | Net deferred tax assets/liabilities (2i - 3c)  | $**11940**  | $7173  | $4767  |

---

Among the more significant book-to-tax adjustments were the following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **12/31/2025** | **Effective Tax Rate** | **12/31/2024** | **Effective Tax Rate** | **12/31/2023** | **Effective Tax Rate** |
|  | *(In Thousands)* |  | *(In Thousands)* |  | *(In Thousands)* |  |
| Provision computed at statutory rate  | **17610**  | **21.00%** | $27514  | 21.00% | $8376  | 21.00% |
| Dividends received deduction  | **(1705)** | **(2.03)** | (1425) | (1.08) | (1651) | (4.14) |
| Tax credits | **—**  | **—**  | (35) | (0.03) | —  | —  |
| Other invested assets and nonadmitted change | **116**  | **0.14**  | —  | —  | —  | —  |
| Affiliated income | **—**  | **—**  | (9870) | (7.53) | —  | —  |
| Return to provision | **(4274)** | **(5.10)** | (2507) | (1.91) | —  | —  |
| Other\* | **(152)** | **(0.18)** | (1498) | (1.15) | (1668) | (4.18) |
| Total statutory income taxes | $**11595**  | **13.83%** | $12179  | 9.30% | $5057  | 12.68% |
| Federal and foreign taxes incurred  | $**29476**  | **35.15%** | $15021  | 11.47% | $11874  | 29.77% |
| Change in net deferred income taxes  | **(17881)** | **(21.32)** | (2842) | (2.17) | (6817) | (17.09) |
| Total statutory income taxes | $**11595**  | **13.83%** | $12179  | 9.30% | $5057  | 12.68% |

---

\*2023 includes return to provision adjustments

At December 31, 2025, the Company had $0.0 million of net operating loss carryforwards, net capital loss carryforwards and tax credit carry forwards; the Company had $0.0 million of deferred tax liabilities that are not recognized.

The amount of federal income taxes incurred that will be available for recoupment at December 31, 2025, in the event of future capital losses is $6.7 million, $5.9 million, and $0.2 million from 2025, 2024 and 2023, respectively.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

There were no deposits admitted under Section 6603 of the Internal Revenue Service Code as of December 31, 2025 and 2024.

The Company has no unrecognized tax liability as of December 31, 2025 and 2024.

The Company has no tax contingencies for which it is reasonably possible that the total liability will significantly increase within twelve months of the reporting date.

The Company had no accrued interest or penalties related to tax contingencies as of and for the years ended December 31, 2025, 2024 and 2023.

The tax years 2014 through 2017 and 2022 through 2025 remain subject to examination by major tax jurisdictions.

The Inflation Reduction Act was enacted on August 16, 2022, and included a provision for a new Corporate Alternative Minimum Tax (CAMT), effective in 2023, that is based on the adjusted financial statement income set forth on the applicable financial statement of an "applicable corporation." The controlled group of corporations of which the reporting entity is a member has determined that it is not an "applicable corporation" for purposes of CAMT during the reporting period, and is not liable for the CAMT.

The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, which includes changes to the Internal Revenue Code. The OBBBA did not have a significant impact on the Company's financial statements.

**7. Capital and Surplus**

The Company is required by statutory regulations to meet minimum risk-based capital standards. Risk-based capital is a method of measuring the minimum amount of capital appropriate for an insurance company to support its overall business operations in consideration of its size and risk profile. At December 31, 2025 and 2024, the Company exceeded the minimum risk-based capital.

Ohio insurance law limits the amount of dividends that can be paid to a parent in a holding company structure without prior approval of the regulators to the greater of 10% of statutory surplus or statutory net income as of the preceding December 31 less any dividends paid in the preceding 12 months, but only to the extent of earned surplus as of the preceding December 31. Based on these limitations, the Company is able to pay dividends of up to $139.9 million by the end of 2026 without seeking prior regulatory approval based on capital and surplus of $1,398.6 million at December 31, 2025.

**8. Commitments and Contingencies**

The Company is named as a defendant in various legal actions arising principally from claims made under insurance policies and contracts. The Company believes the resolution of these actions will not have a material effect on the Company's financial position or results of operations.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

At December 31, 2025, the Company does not have any material lease agreements for office space or equipment.

At December 31, 2025, the Company has future commitments to provide additional capital contributions of $67.1 million to investments in joint ventures, limited partnerships and limited liability companies. Additionally, the Company has commitments to fund $0.5 million of commercial mortgage loans.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**9. Life and Annuity Reserves and Deposit-Type Contract Liabilities**

At December 31, 2025, the Company's general and separate account annuity reserves and deposit-type contract liabilities that are subject to discretionary withdrawal (with adjustment), subject to discretionary withdrawal (without adjustment), and not subject to discretionary withdrawal provisions are summarized as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Individual Annuities | **General Account** | **Separate Account With Guarantees** | **Separate Account Non-guaranteed** | **Total** | **Percent** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |  |
| Subject to discretionary withdrawal: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;With market value adjustment | $112  | $558376  | $—  | $558488  | 9.9% |
| &nbsp;&nbsp;At book value less current surrender charge of 5% or more | 714457  | 3241  | —  | 717698  | 12.8  |
| &nbsp;&nbsp;&nbsp;At fair value | —  | —  | 724363  | 724363  | 12.9  |
| Total with adjustment or at fair value | 714569  | 561617  | 724363  | 2000549  | 35.6  |
| Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment) | 1064861  | 219345  | —  | 1284206  | 22.8  |
| Not subject to discretionary withdrawal | 2341751  | —  | —  | 2341751  | 41.6  |
| Total individual annuity reserves (before reinsurance) | 4121181  | 780962  | 724363  | 5626506  | 100.0% |
| Reinsurance ceded | —  | —  | —  | —  |  |
| Net individual annuity reserves | $4121181  | $780962  | $724363  | $5626506  |  |
| Amount subject to greater than a 5% surrender charge that will be subject to minimal or no surrender charge after the statement date | $132119  | $151  | $—  | $132270  |  |
| Group Annuities | **General Account** | **Separate Account With Guarantees** | **Separate Account Non-guaranteed** | **Total** | **Percent** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |  |
| Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment) | $1728  | $—  | $—  | $1728  | 100.0% |
| Not subject to discretionary withdrawal | —  | —  | —  | —  | —  |
| Total group annuity reserves (before reinsurance) | 1728  | —  | —  | 1728  | 100.0% |
| Reinsurance ceded | —  | —  | —  | —  |  |
| Net group annuity reserves | $1728  | $—  | $—  | $1728  |  |

---

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Deposit-type contracts (no life contingencies) | **General Account** | **Separate Account With Guarantees** | **Separate Account Non-guaranteed** | **Total** | **Percent** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |  |
| Subject to discretionary withdrawal: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;At fair value | —  | —  | 13274  | 13274  | 1.5  |
| Total with adjustment or at fair value | —  | —  | 13274  | 13274  | 1.5  |
| Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment) | $23284  |  | $—  | $23284  | 2.7% |
| Not subject to discretionary withdrawal | 822800  | —  | —  | 822800  | 95.8  |
| Total deposit-type contract liability (before reinsurance) | 846084  | —  | 13274  | 859358  | 100.0% |
| Reinsurance ceded | —  | —  | —  | —  |  |
| Total deposit-type contract liability | $846084  | $—  | $13274  | $859358  |  |

---

Interest rate changes may have temporary effects on the sale and profitability of annuity products offered by the Company. Although the rates offered by the Company are adjustable in the long-term, in the short-term they may be subject to contractual and competitive restrictions, which may prevent timely adjustment. The Company's management constantly monitors interest rates with respect to a spectrum of product durations and sells annuities that permit flexible responses to interest rate changes as part of the Company's management of interest spreads. However, adverse changes in investment yields on invested assets will affect the earnings on those products with a guaranteed return.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

At December 31, 2025, the Company's general and separate account life insurance account values, cash value, and reserves for policies subject to discretionary withdrawal, not subject to discretionary withdrawal, or with no cash value are summarized as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **General Account** | **General Account** | **General Account** | **Separate Account - Nonguaranteed** | **Separate Account - Nonguaranteed** | **Separate Account - Nonguaranteed** |
| | **Account Value** | **Cash Value** | **Reserve** | **Account Value** | **Cash Value** | **Reserve** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Subject to discretionary withdrawal, surrender values, or policy loans: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Term policies with cash value | $—  | $—  | $—  | $—  | $—  | $—  |
| &nbsp;&nbsp;&nbsp;Universal life | 157339  | 157339  | 157925  | —  | —  | —  |
| &nbsp;&nbsp;Universal life with secondary guarantees | —  | —  | —  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;Indexed universal life | —  | —  | —  | —  | —  | —  |
| &nbsp;&nbsp;Indexed universal life with secondary guarantees | —  | —  | —  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;Indexed life | —  | —  | —  | —  | —  | —  |
| &nbsp;&nbsp;Other permanent cash value life insurance | —  | 2367  | 2367  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;Variable life | —  | —  | —  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;Variable universal life | 2396  | 2396  | 2396  | 8461  | 8461  | 8461  |
| &nbsp;&nbsp;&nbsp;Miscellaneous reserves | —  | —  | —  | —  | —  | —  |
| Not subject to discretionary withdrawal or no cash values: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Term policies without cash value | XXX | XXX | —  | XXX | XXX | —  |
| &nbsp;&nbsp;&nbsp;Accidental death benefits | XXX | XXX | —  | XXX | XXX | —  |
| &nbsp;&nbsp;&nbsp;Disability - active lives | XXX | XXX | —  | XXX | XXX | —  |
| &nbsp;&nbsp;&nbsp;Disability - disabled lives | XXX | XXX | —  | XXX | XXX | —  |
| &nbsp;&nbsp;&nbsp;Miscellaneous reserves | XXX | XXX | —  | XXX | XXX | —  |
| Total life reserves (before reinsurance) | 159735  | 162102  | 162688  | 8461  | 8461  | 8461  |
| Reinsurance Ceded | —  | —  | —  | —  | —  | —  |
| Net life reserves | $159735  | $162102  | $162688  | $8461  | $8461  | $8461  |

---

**Federal Home Loan Bank**

The Company is a member of the FHLB of Cincinnati. Through its membership, the Company has conducted business activity (borrowings) with the FHLB. It is part of the Company's strategy to utilize these funds to increase profitability. The Company has determined the actual/estimated maximum borrowing capacity as $809.6 million. The Company calculated this amount after a review of its pledgeable assets (both pledged and unpledged) and after applying the respective FHLB borrowing haircuts. Based on this borrowing capacity, the Company has $307.2 million in short-term unused commitments at December 31, 2025.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

FHLB Capital Stock – General Account:

---

| | | |
|:---|:---|:---|
| | **December 31** | **December 31** |
| | **2025** | **2024** |
|  | *(In Thousands)* | *(In Thousands)* |
| Membership stock - Class A (not eligible for redemption) | $**6899**  | $7246  |
| Membership stock - Class B | **—**  | —  |
| Activity stock | **22612**  | 25181  |
| Excess stock | **463**  | 2638  |
| Aggregate total | $**29974**  | $35065  |
| Actual or estimated borrowing capacity as determined by the insurer | $**809637**  | $850000  |

---

Collateral Pledged to FHLB – General Account:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | **Fair Value** | **Carrying Value** | **Aggregate Total Borrowing** | **Borrowed at Time of Maximum Collateral** | **Fair Value** | **Carrying Value** | **Aggregate Total Borrowing** | **Borrowed at Time of Maximum Collateral** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Total as of reporting date | $**1076338**  | $**1087386**  | $**502479**  | **XXX** | $1061647  | $1108729  | $559579  | XXX |
| Maximum during reporting period | **1157973**  | **1202094**  | **XXX** | **564979**  | 1155284  | 1228608  | XXX | 540305  |

---

Borrowing from FHLB - General Account:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2024** | **2024** |
| | **At Reporting Date** | **Reserves Established at Reporting Date** | **Maximum Amount During Period** | **At Reporting Date** | **Reserves Established at Reporting Date** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Funding agreements | $**502479**  | $**501729**  | $**570962**  | $559579  | $559252  |
| Debt | **—**  | **XXX** | **—**  | —  | XXX |
| Aggregate total | $**502479**  | $**501729**  | $**570962**  | $559579  | $559252  |

---

The Company does not have any prepayment obligations under these FHLB borrowing arrangements.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**10. Separate Accounts**

The Company's guaranteed separate account consists of non-indexed, guaranteed rate options that include market value adjustments and systematic transfer options. The guaranteed rate options are sold in fixed annuity products and as investment options within the Company's variable annuity products. The guaranteed rate options and systematic transfer options carry a minimum interest guarantee based on the guarantee period selected by the policyholder. The fixed annuity products offered provide a death benefit equal to the account value, with one product offering an optional death benefit ranging from 25% to 40% of the gain in the contract. The fixed investment options offered within the Company's variable annuity products provide the death benefits listed below for variable annuities.

The Company's nonguaranteed separate accounts consist primarily of subaccounts available through variable annuities and variable universal life insurance. The net investment experience of each subaccount is credited directly to the policyholder and can be positive or negative. The variable annuities include guaranteed minimum death benefits that vary by product and include optional death benefits available on some products. The death benefits offered by the Company include the following: account value, return of premium paid, a death benefit that is adjusted after seven years to the current account value, a death benefit that is adjusted annually to the current account value, and an additional death benefit ranging from 25% to 40% of the gain in the contract. Some variable annuities also provide living benefits, which include guaranteed accumulation amounts on a date certain, guaranteed minimum withdrawal amounts and guaranteed minimum lifetime withdrawal amounts. The death benefit under the variable universal life insurance policies may vary with the investment performance of the underlying investments in the separate accounts.

To compensate the general account for risk taken, the separate accounts paid risk charges of $3.7 million, $4.7 million, $4.3 million, $3.8 million and $4.4 million in 2025, 2024, 2023, 2021 and 2020, respectively. The Company's general account paid $0.5 million, $0.2 million, $0.3 million, $0.3 million and $0.3 million towards separate account guarantees in 2025, 2024, 2023, 2021, and 2020, respectively.

------

Integrity Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Information regarding the separate accounts of the Company as of and for the year ended December 31, 2025, is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Separate Accounts With Guarantees** | **Separate Accounts With Guarantees** | | |
| | **Nonindexed Guaranteed Less Than/ Equal to 4%** | **Nonindexed Guaranteed More Than 4%** |<br>**Nonguaranteed Separate Accounts** |<br>**Total** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Premiums, considerations or deposits | $46383  | $28  | $21783  | $68194  |
| Reserves for separate accounts with assets at: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value | $—  | $—  | $746098  | $746098  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortized cost | 780157  | 805  | —  | 780962  |
| Total reserves | $780157  | $805  | $746098  | $1527060  |
| Reserves for separate accounts by withdrawal characteristics: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With fair value adjustment | $558376  | $—  | $—  | $558376  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At book value without fair value adjustment and with current surrender charge of 5% or more | 2644  | 597  | —  | 3241  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At fair value | —  | —  | 746098  | 746098  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At book value without fair value adjustment and with current surrender charge of less than 5% | 219137  | 208  | —  | 219345  |
| &nbsp;&nbsp;&nbsp;&nbsp;Subtotal | 780157  | 805  | 746098  | 1527060  |
| &nbsp;&nbsp;&nbsp;&nbsp;Not subject to discretionary withdrawal | —  | —  | —  | —  |
| Total separate accounts reserves | $780157  | $805  | $746098  | $1527060  |

---

A reconciliation of the amounts transferred to and from the separate accounts for the year ended December 31, 2025, is presented below:

---

| | |
|:---|:---|
| | **2025** |
|  | *(In Thousands)* |
| Transfers as reported in the Summary of Operations of the Separate Accounts Statement: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to separate accounts | $61336  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers from separate accounts | 262111  |
| Net transfers to (from) separate accounts  | (200775) |
| Reconciling adjustments: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Policy deductions and other expenses | 500  |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in surplus in separate accounts | (2604) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other account adjustments | 1601  |
| Transfers as reported in the Summary of Operations of the Company | $(201278) |

---

------

Supplementary Information

------

---

| | | |
|:---|:---|:---|
| ![image4.jpg](image4.jpg) | <br>Ernst & Young LLP <br>1900 Scripps Center <br>312 Walnut Street <br>Cincinnati, OH 45202  | <br>Tel: +1 513 612 1400 <br>Fax: +1 513 612 1730 <br>ey.com |

---

**Placeholder EY Opinion**

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Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

---

| | |
|:---|:---|
| Investment income earned: |  |
| &nbsp;&nbsp;&nbsp;U.S. Government debt securities | $2685 |
| &nbsp;&nbsp;&nbsp;Other debt securities (unaffiliated) | 190609 |
| &nbsp;&nbsp;&nbsp;Debt securities of affiliates |  |
| &nbsp;&nbsp;&nbsp;Preferred stocks (unaffiliated) | 2587 |
| &nbsp;&nbsp;&nbsp;Preferred stocks of affiliates |  |
| &nbsp;&nbsp;&nbsp;Common stocks (unaffiliated) | 16428 |
| &nbsp;&nbsp;&nbsp;Common stocks of affiliates |  |
| &nbsp;&nbsp;&nbsp;Mortgage loans | 48218 |
| &nbsp;&nbsp;&nbsp;Real estate |  |
| &nbsp;&nbsp;&nbsp;Premium notes, policy loans and liens | 4624 |
| &nbsp;&nbsp;&nbsp;Cash on hand and on deposit | 2162 |
| &nbsp;&nbsp;&nbsp;Short-term investments | 169 |
| &nbsp;&nbsp;&nbsp;Other invested assets | 15762 |
| &nbsp;&nbsp;&nbsp;Derivative instruments | 39720 |
| &nbsp;&nbsp;&nbsp;Aggregate write-ins for investment income | (1367) |
| Gross investment income | $321597 |
| Real estate owned (book value less encumbrances) | $— |
| Mortgage loans (book value): |  |
| &nbsp;&nbsp;&nbsp;Farm mortgages | $— |
| &nbsp;&nbsp;&nbsp;Residential mortgages |  |
| &nbsp;&nbsp;&nbsp;Commercial mortgages | 952956 |
| &nbsp;&nbsp;&nbsp;Mezzanine real estate loan |  |
| Total mortgage loans | $952956 |
| Mortgage loans by standing (book value): |  |
| &nbsp;&nbsp;&nbsp;Good standing | $952956 |
| &nbsp;&nbsp;&nbsp;Good standing with restructured terms | $— |
| &nbsp;&nbsp;&nbsp;Interest overdue more than 90 days, not in foreclosure | $— |
| &nbsp;&nbsp;&nbsp;Foreclosure in process | $— |
| Other long-term assets (statement value) | $543016 |
| Collateral loans | $— |
| Debt securities and stocks of parents, subsidiaries and affiliates (book value): |  |
| &nbsp;&nbsp;&nbsp;Debt securities | $— |
| &nbsp;&nbsp;&nbsp;Preferred stocks | $— |
| &nbsp;&nbsp;&nbsp;Common stocks | $561252 |

---

------

Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

---

| | |
|:---|:---|
| Debt securities and short-term investments by NAIC designation and maturity: |  |
| &nbsp;&nbsp;&nbsp;Debt securities by maturity (statement value): |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due within one year or less | $470826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Over 1 year through 5 years | 1383319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Over 5 years through 10 years | 947407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Over 10 years through 20 years | 709228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Over 20 years | 316355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No maturity date |  |
| &nbsp;&nbsp;&nbsp;Total by maturity | $3827135 |
| &nbsp;&nbsp;&nbsp;Debt securities and short-term investments by NAIC designation (statement value): |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NAIC 1 | $1988848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NAIC 2 | 1637400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NAIC 3 | 148481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NAIC 4 | 39621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NAIC 5 | 11708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NAIC 6 | 1077 |
| &nbsp;&nbsp;&nbsp;Total by NAIC designation | $3827135 |
| Total debt securities publicly traded | $2014381 |
| Total debt securities privately placed | $1812754 |
| Preferred stocks (statement value) | $42854 |
| Common stocks (market value) | $1255002 |
| Short-term investments (book value) | $— |
| Securities lending reinvested collateral assets (book value) | $— |
| Options, caps and floors owned (statement value) | $106628 |
| Options, caps and floors written and in-force (statement value) | $(37591) |
| Collar, swap and forward agreements open (statement value) | $— |
| Futures contracts open (current value) | $2230 |
| Cash on deposit (book overdraft) | $(10866) |
| Life insurance in-force: |  |
| &nbsp;&nbsp;&nbsp;Industrial | $— |
| &nbsp;&nbsp;&nbsp;Ordinary | $227986 |
| &nbsp;&nbsp;&nbsp;Credit life | $— |
| &nbsp;&nbsp;&nbsp;Group life | $1301 |
| Amount of accidental death insurance in-force under ordinary policies | $— |

---

------

Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

---

| | |
|:---|:---|
| Life insurance policies with disability provisions in-force: |  |
| &nbsp;&nbsp;&nbsp;Industrial | $— |
| &nbsp;&nbsp;&nbsp;Ordinary | $689 |
| &nbsp;&nbsp;&nbsp;Credit life | $— |
| &nbsp;&nbsp;&nbsp;Group life | $— |
| Supplementary contracts in-force: |  |
| &nbsp;&nbsp;&nbsp;Ordinary – not involving life contingencies: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount on deposit | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount of income payable | $10168 |
| &nbsp;&nbsp;&nbsp;Ordinary – involving life contingencies: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount of income payable | $9711 |
| &nbsp;&nbsp;&nbsp;Group – not involving life contingencies: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount on deposit | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount of income payable | $— |
| &nbsp;&nbsp;&nbsp;Group – involving life contingencies: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount of income payable | $— |
| Annuities: |  |
| &nbsp;&nbsp;&nbsp;Ordinary: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Immediate – amount of income payable | $263197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred – fully paid – account balance | $3270472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred – not fully paid – account balance | $— |
| &nbsp;&nbsp;&nbsp;Group: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount of income payable | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fully paid – account balance | $1728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not fully paid – account balance | $— |
| Accident and health insurance – premiums in-force: |  |
| &nbsp;&nbsp;&nbsp;Ordinary | $— |
| &nbsp;&nbsp;&nbsp;Group | $— |
| &nbsp;&nbsp;&nbsp;Credit | $— |
| Deposit funds and dividend accumulations: |  |
| &nbsp;&nbsp;&nbsp;Deposit funds – account balance | $525012 |
| &nbsp;&nbsp;&nbsp;Dividend accumulations – account balance | $— |

---

------

Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

---

| | |
|:---|:---|
| Claim payments 2025: |  |
| &nbsp;&nbsp;&nbsp;Group accident and health: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior | $|
| &nbsp;&nbsp;&nbsp;Other accident and health: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior | $|
| &nbsp;&nbsp;&nbsp;Other coverages that use developmental methods to calculate claims reserves: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | $|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior | $|

---

------

Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

PH- SIS

------

Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

PH-SIRI

------

Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

PH-SIRI

------

Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

PH-SIRI

------

Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

PH-SIRI

------

Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

PH-SIRI

------

Integrity Life Insurance Company

Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025 (In Thousands)

PH-SIRI

------

Integrity Life Insurance Company

Note to Supplemental Schedule of Selected Statutory-Basis Financial Data

December 31, 2025

**Basis of Presentation**

The accompanying supplemental schedule presents selected statutory-basis financial data as of December 31, 2025, and for the year then ended, for purposes of complying with the National Association of Insurance Commissioners' Annual Statement Instructions and the National Association of Insurance Commissioners' Accounting Practices and Procedures Manual and agrees to or is included in the amounts reported in the Company's 2025 Statutory Annual Statement as filed with the Ohio Department of Insurance.

*Reinsurance* 

The Company has not identified any reinsurance contracts entered into, renewed or amended on or after January 1, 1996 that would require disclosure in the supplemental schedule to life and reinsurance disclosures as required under SSAP No. 61R, Life, Deposit-Type and Accident and Health Reinsurance.

------

STATUTORY-BASIS FINANCIAL STATEMENTS

The Western and Southern Life Insurance Company

Years Ended December 31, 2025, 2024 and 2023

With Report of Independent Auditors

------

The Western and Southern Life Insurance Company

Statutory-Basis Financial Statements

Years Ended December 31, 2025, 2024 and 2023

**Contents**

---

| | |
|:---|:---|
| Report of Independent Auditors | [1](#ie56561a5c13449ec9976e972c80a7496_10) |
| Financial Statements |  |
| Balance Sheets (Statutory-Basis) | [4](#ie56561a5c13449ec9976e972c80a7496_13) |
| Statements of Operations (Statutory-Basis) | [5](#ie56561a5c13449ec9976e972c80a7496_16) |
| Statements of Changes in Capital and Surplus (Statutory-Basis) | [6](#ie56561a5c13449ec9976e972c80a7496_19) |
| Statements of Cash Flow (Statutory-Basis) | [7](#ie56561a5c13449ec9976e972c80a7496_22) |
| Notes to Financial Statements (Statutory-Basis) | [8](#ie56561a5c13449ec9976e972c80a7496_25) |

---

------

**Report of Independent Auditors**

The Board of Directors

The Western and Southern Life Insurance Company

**Opinion**

We have audited the statutory-basis financial statements of The Western and Southern Life Insurance Company (the Company), which comprise the balance sheets as of December 31, 2025 and 2024, and the related statements of operations, changes in capital and surplus and cash flow for each of the three years ended December 31, 2025, and the related notes to the financial statements (collectively referred to as the "financial statements").

*Unmodified Opinion on Statutory Basis of Accounting*

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2025 and 2024, and the results of its operations and its cash flows for the three years ended December 31, 2025, on the basis of accounting described in Note 1.

*Adverse Opinion on U.S. Generally Accepted Accounting Principles*

In our opinion, because of the significance of the matter described in the Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles section of our report, the financial statements do not present fairly, in accordance with accounting principles generally accepted in the United States of America, the financial position of the Company at December 31, 2025 and 2024, or the results of its operations or its cash flows for the three years ended December 31, 2025.

**Basis for Opinion**

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

*Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles*

As described in Note 1 to the financial statements, the Company prepared these financial statements using accounting practices prescribed or permitted by the Ohio Department of Insurance, which is a basis of accounting other than accounting principles generally accepted in the United States of America. The effects on the financial statements of the variances between these statutory accounting practices described

------

in Note 1 and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material and pervasive.

**Responsibilities of Management for the Financial Statements**

Management is responsible for the preparation and fair presentation of the financial statements in accordance with the accounting practices prescribed or permitted by the Ohio Department of Insurance. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for one year after the date that the financial statements are issued.

**Auditor's Responsibilities for the Audit of the Financial Statements**

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exercise professional judgment and maintain professional skepticism throughout the audit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

/s/ Ernst & Young, LLP

April 20, 2026

------

The Western and Southern Life Insurance Company

Balance Sheets (Statutory-Basis)

---

| | | |
|:---|:---|:---|
| | **December 31** | **December 31** |
| | **2025** | **2024** |
| **Admitted assets** | *(In Thousands)* | *(In Thousands)* |
| Cash and invested assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities | $**2915499**  | $3009144  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred and common stocks | **716437**  | 752336  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in common stocks of subsidiaries | **5122817**  | 4789807  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans | **51412**  | 53037  |
| &nbsp;&nbsp;&nbsp;&nbsp;Policy loans | **142341**  | 142838  |
| &nbsp;&nbsp;&nbsp;&nbsp;Real estate: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Properties held for the production of income | **686**  | 496  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Properties occupied by the Company | **26756**  | 23040  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments | **254980**  | 132777  |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivable for securities | **1004**  | 171  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets | **2735024**  | 2540163  |
| Total cash and invested assets | **11966956**  | 11443809  |
| Investment income due and accrued | **41052**  | 40604  |
| Premiums deferred and uncollected | **45552**  | 46609  |
| Current federal income taxes recoverable | **109029**  | 111876  |
| Receivables from parent, subsidiaries and affiliates | **49899**  | 28010  |
| Other admitted assets | **20665**  | 18739  |
| Separate account assets | **1329064**  | 1214528  |
| Total admitted assets | $**13562217**  | $12904175  |
| **Liabilities and capital and surplus** |  |  |
| Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Policy and contract liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life and annuity reserves | $**2870386**  | $2853065  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accident and health reserves | **147695**  | 146066  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liability for deposit-type contracts | **157480**  | 165116  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy and contract claims | **40712**  | 46954  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends payable to policyholders | **33436**  | 33900  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Premiums received in advance | **3168**  | 3275  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total policy and contract liabilities | **3252877**  | 3248376  |
| General expense due and accrued | **66625**  | 75022  |
| Net deferred income tax liability | **29562**  | 16065  |
| Transfer to (from) separate accounts due and accrued, net | **(18)** | (6) |
| Asset valuation reserve | **461390**  | 392287  |
| Interest maintenance reserve | **35700**  | 40607  |
| Other liabilities | **479691**  | 461452  |
| Liability for postretirement benefits other than pensions | **73621**  | 77255  |
| Payable for securities lending | **133159**  | 111893  |
| Separate account liabilities | **1329064**  | 1214528  |
| Total liabilities | **5861671**  | 5637479  |
| Capital and surplus: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, $1 par value, authorized 2,500 shares,<br>&nbsp;&nbsp;&nbsp;&nbsp; issued and outstanding 2,500 shares | **2500**  | 2500  |
| &nbsp;&nbsp;&nbsp;&nbsp;Surplus Notes | **995933**  | 995788  |
| &nbsp;&nbsp;&nbsp;&nbsp;Paid-in surplus | **802103**  | 802103  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated surplus | **5900010**  | 5466305  |
| Total capital and surplus | **7700546**  | 7266696  |
| Total liabilities and capital and surplus | $**13562217**  | $12904175  |

---

*See accompanying notes.*

------

The Western and Southern Life Insurance Company

Statements of Operations (Statutory-Basis)

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31** | **Year Ended December 31** | **Year Ended December 31** |
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Premiums and other revenues: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums and annuity considerations | $**198820**  | $199298  | $212486  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income | **391521**  | 677438  | 590763  |
| &nbsp;&nbsp;&nbsp;&nbsp;Considerations for supplementary contracts with life contingencies | **84**  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of the interest maintenance reserve | **6805**  | 6408  | 6812  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commissions and expenses on reinsurance ceded | **1112**  | 1081  | 1075  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenues | **1183**  | 121  | 336  |
| Total premiums and other revenues | **599525**  | 884346  | 811472  |
| Benefits paid or provided: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Death benefits | **128012**  | 127921  | 129169  |
| &nbsp;&nbsp;&nbsp;&nbsp;Annuity benefits | **52364**  | 48616  | 117163  |
| &nbsp;&nbsp;&nbsp;&nbsp;Disability and accident and health benefits | **10517**  | 10603  | 11899  |
| &nbsp;&nbsp;&nbsp;&nbsp;Surrender benefits | **51592**  | 52143  | 46428  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments on supplementary contracts with life contingencies | **160**  | 195  | 202  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other benefits | **2500**  | 2215  | 3489  |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase in policy reserves and other policyholders' funds | **24152**  | 28004  | 42911  |
| Total benefits paid or provided | **269297**  | 269697  | 351261  |
| Insurance expenses and other deductions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commissions | **18408**  | 15691  | 16784  |
| &nbsp;&nbsp;&nbsp;&nbsp;General expenses | **167704**  | 170899  | 158625  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net transfers to (from) separate account | **(52188)** | (49028) | (117344) |
| &nbsp;&nbsp;&nbsp;&nbsp;Reserve adjustments on reinsurance assumed | **(12)** | (38) | (74) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other deductions | **40823**  | 37805  | 42720  |
| Total insurance expenses and other deductions | **174735**  | 175329  | 100711  |
| Gain (loss) from operations before dividends to policyholders, federal income tax expense, and net realized capital gains (losses) | **155493**  | 439320  | 359500  |
| Dividends to policyholders | **39942**  | 42300  | 41140  |
| Gain (loss) from operations before federal income tax expense and net realized capital gains (losses)  | **115551**  | 397020  | 318360  |
| Federal income tax expense (benefit), excluding tax on capital gains  | **(39969)** | (26312) | (47089) |
| Gain (loss) from operations before net realized capital gains (losses)  | **155520**  | 423332  | 365449  |
| Net realized capital gains (losses) (excluding gains (losses) transferred to IMR and capital gains tax) | **44655**  | (22098) | (16061) |
| Net income (loss) | $**200175**  | $401234  | $349388  |

---

*See accompanying notes.*

------

The Western and Southern Life Insurance Company

Statements of Changes in Capital and Surplus (Statutory-Basis)

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Balance, January 1 | $**7266696**  | $7033192  | $6901065  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) | **200175**  | 401234  | 349388  |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in net deferred income tax | **(2442)** | 22752  | (11576) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized gains (losses) on investments (net of deferred tax expense (benefit) of $4,251; $4,833; ($21887), respectively) | **355749**  | 2319  | (162717) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized foreign exchange capital gain (loss) | **1189**  | (851) | 913  |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in surplus notes | **145**  | 144  | 145  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in nonadmitted assets and related items | **(77463)** | (115007) | (19841) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in asset valuation reserve | **(69103)** | (64896) | 42615  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends to stockholder | **—**  | (155000) | (245000) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in unrecognized post retirement benefit obligation | **25600**  | 97809  | 28200  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital contribution | **—**  | 45000  | 150000  |
| Balance, December 31 | $**7700546**  | $7266696  | $7033192  |

---

*See accompanying notes.*

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The Western and Southern Life Insurance Company

Statements of Cash Flow (Statutory-Basis)

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended December 31** | **Year Ended December 31** | **Year Ended December 31** |
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| **Operating activities** |  |  |  |
| Premiums collected net of reinsurance | $**200596**  | $201328  | $213828  |
| Net investment income received | **361979**  | 586759  | 488006  |
| Benefits paid | **(256352)** | (250226) | (317916) |
| Net transfers from (to) separate accounts | **52176**  | 49045  | 117331  |
| Commissions and expense paid | **(189673)** | (167432) | (169178) |
| Dividends paid to policyholders | **(40406)** | (39587) | (43947) |
| Federal income taxes recovered (paid) | **37048**  | 12654  | (18157) |
| Other, net | **2293**  | 1199  | 1409  |
| Net cash from (for) operations | **167661**  | 393740  | 271376  |
| **Investing activities** |  |  |  |
| Proceeds from investments sold, matured or repaid: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities | **448634**  | 484012  | 179708  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred and common stocks | **313575**  | 219933  | 325142  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans | **1625**  | 1579  | 1182  |
| &nbsp;&nbsp;&nbsp;&nbsp;Real estate | **—**  | 469  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets | **629157**  | 499058  | 392898  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net gains (losses) on cash, cash equivalents and short-term investments | **(162)** | (40) | (34) |
| &nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous proceeds | **308**  | 32710  | 2004  |
| Net proceeds from investments sold, matured or repaid | **1393137**  | 1237721  | 900900  |
| Cost of investments acquired: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities | **(374872)** | (698555) | (124749) |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred and common stocks | **(215133)** | (159990) | (379334) |
| &nbsp;&nbsp;&nbsp;&nbsp;Real estate | **(7201)** | (2155) | (2456) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets | **(778288)** | (622079) | (439178) |
| &nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous applications | **(833)** | (896) | (12988) |
| Total cost of investments acquired | **(1376327)** | (1483675) | (958705) |
| Net change in policy and other loans | **497**  | (106) | (239) |
| Net cash from (for) investments | **17307**  | (246060) | (58044) |
| **Financing activities** |  |  |  |
| Surplus notes, capital notes | **—**  | —  | 145  |
| Capital and paid in surplus, less treasury stock | **—**  | 45000  | 150000  |
| Borrowed funds | **(7883)** | (82495) | 60666  |
| Net deposits on deposit-type contract funds and other insurance liabilities | **(7636)** | (9045) | (9036) |
| Dividends paid to stockholder | **—**  | (155000) | (245000) |
| Other cash provided (applied) | **(47246)** | 32907  | (38856) |
| Net cash from (for) financing and miscellaneous sources | **(62765)** | (168633) | (82081) |
| Net change in cash, cash equivalents and short-term investments | **122203**  | (20953) | 131251  |
| Cash, cash equivalents and short-term investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Beginning of year | **132777**  | 153730  | 22479  |
| &nbsp;&nbsp;&nbsp;&nbsp;End of year | $**254980**  | $132777  | $153730  |
| **Cash flow information for noncash transactions:** |  |  |  |
| Dividend from Integrity Life Insurance Company in the form of common stock | $**—**  | $39682  | $50000  |
| Capital contribution to Western-Southern Life Assurance Company in the form of common stock | $**—**  | $—  | $(50000) |

---

*See accompanying notes.*

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**1. Nature of Operations and Significant Accounting Policies**

The Western and Southern Life Insurance Company (the Company) is a stock life insurance company that offers primarily individual traditional and whole life insurance policies. The Company is licensed in 46 states and the District of Columbia. For the year ended December 31, 2025, approximately 68.7% of the gross premiums and annuity considerations for the Company were derived from California, Illinois, Indiana, North Carolina, Ohio, and Pennsylvania. The Company is domiciled in Ohio. The Company is an indirect, wholly-owned subsidiary of Western & Southern Mutual Holding Company (Mutual Holding), a mutual holding company formed pursuant to the insurance regulations of the State of Ohio. Ohio law requires Mutual Holding to hold at least a majority voting interest in the Company. Currently, Mutual Holding indirectly holds 100% of the voting interest through Western & Southern Financial Group, Inc. (WSFG), its wholly-owned subsidiary. The Company wholly owns the following insurance entities: Western-Southern Life Assurance Company (WSLAC), Columbus Life Insurance Company (Columbus Life), Integrity Life Insurance Company (Integrity) and Gerber Life Insurance Company (Gerber Life). Integrity Life Insurance Company wholly owns National Integrity Life Insurance Company (National).

State regulatory authorities have powers relating to granting and revoking licenses to transact business, the licensing of agents, the regulation of premium rates and trade practices, the form and content of insurance policies, the content of advertising material, financial statements and the nature of permitted practices.

Included within the financial statements, the Company has established and operates a closed block for the benefit of holders of most participating individual ordinary and weekly industrial life insurance policies issued on or before the formation of Mutual Holding in 2000 (the Closed Block). Assets have been allocated to the Closed Block in an amount that is expected to produce cash flows which, together with anticipated revenue from the policies included in the Closed Block, are reasonably expected to be sufficient to support the Closed Block policies, the continuation of policyholder dividends, in aggregate, in accordance with the 2000 dividend scale if the experience underlying such scale continues, and for appropriate adjustments in the dividend scale if the experience changes. Invested assets allocated to the Closed Block consist primarily of high-quality debt securities, mortgage loans, policy loans, short-term investments, other invested assets, and securities lending reinvested collateral. Invested assets of $1,758.9 million and $1,766.7 million were allocated to the Closed Block as of December 31, 2025 and 2024, respectively. The assets allocated to the Closed Block inure solely for the benefit of the Closed Block policyholders and will not revert to the benefit of the Company. The purpose of the Closed Block is to protect the policy dividend expectations of these policies after the formation of Mutual Holding. The Closed Block will continue in effect until the last policy in the Closed Block is no longer in force.

**Use of Estimates** 

The preparation of statutory-basis financial statements requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**Basis of Presentation**

The accompanying financial statements of the Company have been prepared in conformity with accounting practices prescribed or permitted by the Ohio Department of Insurance (the Department). The National Association of Insurance Commissioners' (NAIC) *Accounting Practices and Procedures Manual* (NAIC SAP or SSAP) has been adopted as a component of prescribed or permitted practices by the State of Ohio. These practices differ in some respects from U.S. generally accepted accounting principles (GAAP). The more significant differences follow.

*Investments*

Investments in debt securities and mandatory redeemable preferred stocks are reported at amortized cost or fair value based on the NAIC's rating; for GAAP, such fixed maturity investments are designated at purchase as held-to-maturity, trading or available-for-sale. Held-to-maturity fixed investments are reported at amortized cost, and the remaining fixed maturity investments are reported at fair value with unrealized holding gains and losses reported in the statement of operations for those designated as trading and as a separate component of other comprehensive income (loss) for those designated as available-for-sale.

All single-class and multiclass mortgage-backed/asset-backed securities (e.g., CMOs) are adjusted for the effects of changes in prepayment assumptions on the related accretion of discount or amortization of premium of such securities using the retrospective method. The prospective method is used to determine amortized cost for securities that experience a decline that is deemed to be other-than-temporary. Securities that are in an unrealized loss position which the Company intends to sell, or does not have the intent and ability to hold until recovery, are written down to fair value as a realized loss. Securities that are in an unrealized loss position which the Company has the intent and ability to hold until recovery are written down to the extent the present value of expected future cash flows using the security's effective yield is lower than the amortized cost. For GAAP purposes, all securities, purchased or retained, that represent beneficial interests in securitized assets (e.g., CMO, CBO, CDO, CLO, MBS and ABS securities), other than high credit quality securities, are adjusted using the prospective method when there is a change in estimated future cash flows. If it is determined that a decline in fair value is other-than-temporary, the cost basis of the security is written down to the extent the present value of expected future cash flows using the security's effective yield is lower than the amortized cost. If high credit quality securities are adjusted, the retrospective method is used.

The Company monitors other investments to determine if there has been an other-than-temporary decline in fair value. Factors that management considers for each identified security include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The extent the fair value has been below the book/adjusted carrying value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The reasons for the decline in value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Specific credit issues related to the issuer and current economic conditions, including the current and future impact of any specific events;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For structured investments (e.g., residential mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities and other structured investments), factors such as overall deal structure and the Company's position within the structure, quality of underlying collateral, delinquencies and defaults, loss severities, recoveries, prepayments and cumulative loss projections are considered;

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The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For all equity securities and other debt securities with credit-related declines in fair value, the Company's intent and ability to hold the security long enough for it to recover its value to book/adjusted carrying value; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For all other debt securities with interest-related declines in fair value, the Company's intent to sell the security before recovery of its book/adjusted carrying value.

If the decline is judged to be other-than-temporary, an impairment charge to fair value is recorded as a net realized capital loss in the period the determination is made. Under GAAP, if the decline is judged to be other-than-temporary because the Company has the intent to sell the debt security or is more likely than not to be required to sell the debt security before its anticipated recovery, an impairment charge to fair value is recorded as a net realized capital loss. If the decline is judged to be other-than-temporary because the Company does not expect to recover the entire amortized cost basis of the security due to expected credit losses, an impairment charge is recorded to net realized capital loss as the difference between amortized cost and the net present value of expected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment.

Investments in real estate are reported net of required obligations rather than on a gross basis as for GAAP. Real estate owned and occupied by the Company is included in investments rather than reported as an operating asset as under GAAP, and investment income and operating expenses include rent for the Company's occupancy of those properties.

Other invested assets reflect investments in unaffiliated surplus debentures and joint ventures, partnerships and limited liability companies. Unaffiliated surplus debentures are reported at amortized cost. For GAAP, these assets are treated similarly as other debt securities designated as available-for-sale and are recorded at their fair value. Joint ventures, partnerships, and limited liability companies are carried at the Company's interest in the underlying audited GAAP equity of the investee. Undistributed earnings allocated to the Company are reported in the change in net unrealized capital gains or losses. Distributions from earnings of the investees are reported as net investment income when received. For GAAP, these assets are accounted for using the equity method.

Under a formula prescribed by the NAIC, the Company defers the portion of realized capital gains and losses on sales of fixed income investments, principally debt securities and mortgage loans, attributable to changes in the general level of interest rates and amortizes those deferrals over the remaining period to maturity based on groupings of individual security sold in five-year bands. The net deferral is reported as the interest maintenance reserve (IMR) in the accompanying balance sheets. Realized capital gains and losses are reported in income net of federal income tax and transfers to the IMR. Under GAAP, realized capital gains and losses are reported in the statement of operations on a pretax basis in the period that the assets giving rise to the gains or losses are sold.

The asset valuation reserve (AVR) provides a valuation allowance for invested assets. The AVR is determined by an NAIC prescribed formula with changes reflected directly in capital and surplus. AVR is not recognized for GAAP.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

*Subsidiaries*

The accounts and operations of the Company's subsidiaries are not consolidated with the accounts and operations of the Company as would be required under GAAP.

*Policy Acquisition Costs*

The costs of acquiring and renewing business are expensed when incurred. Under GAAP, policy acquisition costs related to traditional life insurance, certain long-duration accident and health insurance, universal life insurance, and investment-type contracts are deferred and amortized on a constant-level basis over the expected life of the related contracts.

*Nonadmitted Assets*

Certain assets designated as "nonadmitted" (principally investments in unaudited subsidiaries and controlled and affiliated entities, the pension asset, and a trademark license agreement), and other assets not specifically identified as admitted assets within the NAIC's *Accounting Practices and Procedures Manual*, are excluded from the accompanying balance sheets and are charged directly to accumulated surplus. Under GAAP, such assets are included in the balance sheets.

*Premiums and Benefits*

Revenues for universal life and annuity policies with mortality or morbidity risk, except for guaranteed interest and group annuity contracts, consist of the entire premium received, and benefits incurred represent the total of death benefits paid and the change in policy reserves. Premiums received for annuity policies without mortality or morbidity risk and for guaranteed interest and group annuity contracts are recorded using deposit accounting, and credited directly to an appropriate policy reserve account, without recognizing premium income. Under GAAP, premiums received in excess of policy charges would not be recognized as premium revenue and benefits would represent the excess of benefits paid over the policy account value and interest credited to the account values.

*Benefit Reserves* 

Certain policy reserves are calculated using statutorily prescribed interest and mortality assumptions rather than on estimated expected experience or actual account balances as would be required under GAAP.

*Reinsurance*

A liability for reinsurance balances is required to be provided for unsecured policy reserves ceded to reinsurers not authorized to assume such business. Changes to those amounts are credited or charged directly to capital and surplus. Under GAAP, an allowance for amounts deemed uncollectible would be established through a charge to earnings.

Policy and contract liabilities ceded to reinsurers have been reported as reductions of the related reserves rather than as assets as would be required under GAAP. Commissions allowed by reinsurers on business

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The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

ceded are reported as income when incurred rather than being deferred and amortized with policy acquisition costs as required under GAAP.

*Employee Benefits*

For purposes of calculating the Company's pension and postretirement benefit obligations, vested participants, non-vested participants and current retirees are included in the valuation. The prepaid pension asset resulting from the excess of the fair value of plan assets over the benefit obligation, which is nonadmitted under statutory accounting rules, is included in other comprehensive income under GAAP.

*Deferred Income Taxes*

Deferred tax assets are recorded for the amount of gross deferred tax assets expected to be realized in future years, and a valuation allowance is established for deferred tax assets not meeting a more-likely-than-not realization threshold. Deferred tax assets are limited to 1) the amount of federal income taxes paid in prior years that can be recovered through loss carrybacks for existing temporary differences that reverse during a time frame corresponding with Internal Revenue Service (IRS) tax loss carryback provisions, not to exceed three years, including amounts established in accordance with the provision of SSAP No. 5R, plus 2) for entities who meet the required realization threshold in SSAP No. 101, the lesser of the remaining gross deferred tax assets expected to be realized within three years of the balance sheet date or 15% of capital and surplus excluding any net deferred tax assets, electronic data processing equipment and operating software and any net positive goodwill, plus 3) the amount of remaining gross deferred tax assets that can be offset against existing gross deferred tax liabilities. The remaining deferred tax assets are nonadmitted. Under GAAP, a deferred tax asset is recorded for the amount of gross deferred tax assets expected to be realized in all future years, and a valuation allowance is established for deferred tax assets not meeting a more-likely-than-not realization threshold.

*Policyholder Dividends*

Policyholder dividends are recognized when declared rather than over the term of the related policies as required by GAAP.

*Surplus Notes*

Surplus Notes are classified as a component of equity rather than as long-term debt.

*Statements of Cash Flow*

Cash, cash equivalents and short-term investments in the statements of cash flow represent cash balances and investments with initial maturities of one year or less. Under GAAP, the corresponding captions of cash and cash equivalents include cash balances and investments with initial maturities of three months or less.

Other significant statutory accounting practices follow.

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The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**Restricted Assets** 

The Company has assets pledged as collateral, or otherwise not exclusively under control of the Company, totaling $156.8 million and $124.5 million as of December 31, 2025 and 2024, respectively. These assets are primarily collateral held in relation to the Company's securities lending program. These restricted assets are discussed in more detail in their relevant section.

**Investments**

Debt securities, common stocks, preferred stocks, and short-term investments are stated at values prescribed by the NAIC, as follows:

Debt securities not backed by other loans are principally stated at amortized cost using the interest method.

Single-class and multiclass mortgage-backed/asset-backed securities are valued at amortized cost using the interest method including anticipated prepayments. Prepayment assumptions are obtained from Bloomberg and broker-dealer prepayment models or derived from empirical data and are based on the current interest rate and economic environment. The retrospective adjustment method is used to value all such securities except securities that are deemed to be other-than-temporarily impaired and securities that are principal-only or interest-only, which are valued using the prospective method.

Unaffiliated common stocks are reported at fair value utilizing publicly quoted prices from third-party pricing services and the related unrealized capital gains and losses are reported in capital and surplus along with any adjustment for federal income taxes.

Redeemable preferred stocks that have characteristics of debt securities and are rated as medium quality or better are reported at amortized cost. All other redeemable preferred stocks are reported at the lower of amortized cost or fair value. Perpetual preferred stocks are valued at fair value, not exceeding any currently effective call price, utilizing publicly quoted prices from third-party pricing services and the related unrealized capital gains and losses are reported in capital and surplus along with any adjustment for federal income taxes.

There are no restrictions on unaffiliated common or preferred stocks.

Short-term investments include investments with remaining maturities of one year or less at the date of acquisition and are principally stated at amortized cost, which approximates fair value.

Cash equivalents are short-term highly liquid investments with original maturities of three months or less and are principally stated at amortized cost, which approximates fair value.

The Company's insurance subsidiaries are reported at their underlying audited statutory equity. The Company's noninsurance subsidiaries are reported based on underlying audited GAAP equity. The net change in the subsidiaries' equity is included in capital and surplus.

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The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Mortgage loans are reported at unpaid principal balances, less an allowance for impairment. A mortgage loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all principal and interest amounts due according to the contractual terms of the mortgage agreement. When management determines foreclosure is probable, the impairment is other than temporary; the mortgage loan is written down to realizable value and a realized loss is recognized.

Policy loans are reported at unpaid principal balances.

Real estate occupied by the Company and real estate held for the production of income are reported at depreciated cost net of related obligations. Real estate that the Company has the intent to sell is reported at the lower of depreciated cost or fair value, net of related obligations. Depreciation is computed by the straight-line method over the estimated useful life of the properties.

Property acquired in the satisfaction of debt is recorded at the lower of cost less accumulated depreciation or fair market value.

Other invested assets reflect primarily investments in joint ventures, partnerships and limited liability companies. Joint ventures, partnerships, and limited liability companies are carried at the Company's interest in the underlying audited GAAP equity of the investee. Undistributed earnings allocated to the Company are reported in the change in net unrealized capital gains or losses. Distributions from earnings of the investees are reported as net investment income when received. Because of the indirect nature of these investments, there is an inherent reduction in transparency and liquidity and increased complexity in valuing the underlying investments. As a result, these investments are actively managed by the Company's management via detailed evaluation of the investment performance relative to risk.

Debt securities and other loan interest are credited to income as it accrues. Dividends are recorded as income on ex-dividend dates. To the extent income is uncertain, due and accrued income is excluded and treated as nonadmitted through surplus.

Realized capital gains and losses are determined using the specific identification method.

**Premiums**

Life and accident and health premiums are recognized as revenue when due. Premiums for annuity policies with mortality and morbidity risk, except for guaranteed interest and group annuity contracts, are also recognized as revenue when due. Premiums received for annuity policies without mortality or morbidity risk and for guaranteed interest and group annuity contracts are recorded using deposit accounting.

**Policy Reserves**

Life, annuity and accident and health disability benefit reserves are developed by actuarial methods and are determined based on published tables using statutorily specified interest rates and valuation methods that will provide, in the aggregate, reserves that are greater than or equal to the minimum or guaranteed policy cash values or the amounts required by the Department. The Company waives deduction of

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The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

deferred fractional premiums on the death of life and annuity policy insureds and does return any premium beyond the date of death. Surrender values on policies do not exceed the corresponding benefit reserves. Policies issued subject to multiple table substandard extra premiums are valued on the standard reserve basis which recognizes the nonlevel incidence of the excess mortality costs. Additional reserves are established when the results of cash flow testing under various interest rate scenarios indicate the need for such reserves, or the net premiums exceed the gross premiums on any insurance in-force.

For policies issued in 2020 or after, life insurance reserves are developed using principle-based policyholder and asset assumptions with margins and floored at formulaic reserves based upon published tables using statutorily specified interest rates and valuation methods.

Formulaic policy reserves for life insurance and supplemental benefits are computed on the Commissioner's Reserve Valuation Method. The following mortality tables and interest rates are used:

---

| | | |
|:---|:---|:---|
| | **Percentage of Reserves** | **Percentage of Reserves** |
| | **2025** | **2024** |
| Life insurance: |  |  |
| &nbsp;&nbsp;&nbsp;1941 Commissioners Standard Ordinary, 2-1/4% - 3-1/2% | **5.0%** | 5.3% |
| &nbsp;&nbsp;&nbsp;1941 Standard Industrial, 2-1/2% - 3-1/2% | **8.3** | 8.3 |
| &nbsp;&nbsp;&nbsp;1958 Commissioners Standard Ordinary, 2-1/2% - 6% | **14.0** | 14.7 |
| &nbsp;&nbsp;&nbsp;1980 Commissioners Standard Ordinary, 4% - 6% | **39.4** | 40.1 |
| &nbsp;&nbsp;&nbsp;2001 Commissioners Standard Ordinary, 3-1/2% - 4-1/2% | **30.5** | 28.6 |
| &nbsp;&nbsp;&nbsp;2017 Commissioners Standard Ordinary, 3-1/2% | **1.2** | 1.2 |
| &nbsp;&nbsp;&nbsp;Other, 2-1/2% - 6% | **0.8** | 0.9 |
|  | **99.2** | 99.1 |
| Other benefits (including annuities): |  |  |
| &nbsp;&nbsp;&nbsp;Various, 2-1/2% - 8-1/4% | **0.8** | 0.9 |
|  | **100.0%** | 100.0% |

---

The mean reserve method is used to adjust the calculated terminal reserve to the appropriate reserve at December 31. Mean reserves are determined by computing the regular mean reserve for the plan at the rated age and holding, in addition, one-half of the extra premium charge for the year. Policies issued after July 1 for substandard lives, are charged an extra premium plus the regular premium for the true age. Mean reserves are based on appropriate multiples of standard rates of mortality. An asset is recorded for deferred premiums net of loading to adjust the reserve for modal premium payments.

For substandard table ratings, mean reserves are based on 125% to 500% of standard mortality rates. For flat extra ratings, mean reserves are based on the standard or substandard mortality rates increased by 1 to 25 deaths per thousand.

As of December 31, 2025 and 2024, reserves of $9.5 million and $10.6 million, respectively, were recorded on in-force amounts of $698.4 million and $735.0 million, respectively, for which gross premiums are less than the net premiums according to the standard of valuation required by the Department. The Company anticipates investment income as a factor in the premium deficiency calculation for all accident and health contracts.

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The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Tabular interest, tabular less actual reserves released, and tabular cost have been determined by formula. Tabular interest on funds not involving life contingencies is calculated as one-hundredth of the product of such valuation rate of interest times the mean of the amount of funds subject to such valuation rate of interest held at the beginning and end of the year of valuation.

The establishment of appropriate reserves is an inherently uncertain process, and there can be no assurance that the ultimate liability will not exceed the Company's policy reserves and have an adverse effect on the Company's results of operations and financial condition. Due to the inherent uncertainty of estimating reserves, it has been necessary, and may over time continue to be necessary, to revise estimated future liabilities as reflected in the Company's policy reserves.

**Policyholders' Dividends**

The amount of policyholders' dividends to be paid (including those on policies included in the Closed Block) is determined annually by the Company's Board of Directors. The aggregate amount of policyholders' dividends is related to actual interest, mortality, morbidity and expense experience for the year and judgment as to the appropriate level of statutory surplus to be retained by the Company.

**Policy and Contract Claims**

Policy and contract claims in process of settlement represent the estimated ultimate net cost of all reported and unreported claims incurred through December 31, 2025 and 2024. The reserves for unpaid claims are estimated using individual case-basis valuations and statistical analysis. These estimates are subject to the effects of trends in claim severity and frequency. Although considerable variability is inherent in such estimates, management believes that the reserves for claims are adequate. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes known; such adjustments are included in current operations.

**Reinsurance**

Reinsurance premiums and benefits paid or provided are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts.

**Securities Lending**

At December 31, 2025, the Company has loaned $129.5 million and $17.9 million (fair value) in the general and separate accounts, respectively, of various debt securities, preferred stocks and common stocks as part of a securities lending program administered by Mitsubishi UFJ Trust and Banking Corporation. At December 31, 2024, the Company had loaned $108.9 million and $7.0 million (fair value) in the general and separate accounts, respectively. The Company maintains effective control over all loaned securities and, therefore, continues to report such securities as invested assets in the balance sheets.

The Company requires at the initial transaction that the fair value of the cash collateral received must be equal to 102% of the fair value of the loaned securities. The Company monitors the ratio of the fair value of the collateral to loaned securities to ensure it does not fall below 100%. If the fair value of the collateral falls below 100% of the fair value of the securities loaned, the Company nonadmits that portion of the

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The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

loaned security. At December 31, 2025 and 2024, the Company did not nonadmit any portion of the loaned securities.

The Company reports all collateral on the balance sheet, with an offsetting liability recognized for the obligation to return the collateral. Collateral for the securities lending program is managed either by an affiliated agent of the Company or by Mitsubishi UFJ Trust and Banking Corporation, an unaffiliated agent. Collateral managed by an affiliated agent is invested primarily in investment-grade debt securities and cash equivalents and is included in the applicable balance sheet amount because the funds are available for the general use of the Company.

At December 31, 2025 and 2024, the fair value of the total collateral in the general account was $132.8 million and $111.5 million, respectively, all of which was managed by an affiliated agent. The fair value of the total collateral in the separate account was $18.2 million and $7.2 million at December 31, 2025 and 2024, respectively, all of which was managed by an unaffiliated agent. At December 31, 2025, the collateral for all securities on loan could be requested to be returned on demand by the borrower.

The aggregate collateral broken out by maturity date is as follows at December 31, 2025:

---

| | | |
|:---|:---|:---|
| | **Amortized Cost** | **Fair<br>Value** |
|  | *(In Thousands)* | *(In Thousands)* |
| Open | $— | $— |
| 30 days or less | 76825 | 76825 |
| 31 to 60 days | 629 | 629 |
| 61 to 90 days | 1117 | 1117 |
| 91 to 120 days | 6432 | 6433 |
| 121 to 180 days | 6383 | 6385 |
| 181 to 365 days | 21875 | 21890 |
| 1 to 2 years | 6952 | 6965 |
| 2 to 3 years | 1500 | 1500 |
| Greater than 3 years | 11000 | 11000 |
| Total collateral | $132713 | $132744 |

---

At December 31, 2025, all of the collateral held for the securities lending program was invested in tradable securities that could be sold and used to pay for the $133.2 million and $18.2 million in the general and separate accounts, respectively, in collateral calls that could come due under a worst-case scenario where all collateral was called simultaneously.

The Company does not accept collateral that is not permitted by contract or custom to sell or repledge. The Company does not have any securities lending transactions that extend beyond one year from the reporting date.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**Separate Account**

The Company maintains a separate account, which holds all of the Company's pension plan assets. The assets of the separate account consist primarily of marketable securities, which are recorded at fair value. These assets are considered legally insulated from the general accounts.

There are no separate account liabilities that are guaranteed by the general account. (See Note 10 for further discussion on the general account's responsibility as it relates to the obligations of the Company's pension plan).

The activity within the separate account, including realized and unrealized gains or losses on its investments, has no effect on net income or capital and surplus of the Company. The Company's statements of operations reflect annuity payments to pension plan participants and other expenses of the separate account, as well as the reimbursement of such expenses from the separate account.

**Federal Income Taxes**

The Company files a consolidated income tax return with its eligible subsidiaries and affiliates. The provision for federal income taxes is allocated to the individual companies using a separate return method based upon a written tax-sharing agreement. Under the agreement, the benefits from losses of subsidiaries and affiliates are retained by the subsidiary and affiliated companies. The Company pays all federal income taxes due for all members of the group. The Company then immediately charges or reimburses, as the case may be, the members of the group an amount consistent with the method described in the tax-sharing agreement.

The Company recognizes accrued interest and penalties related to tax contingencies in Current federal income taxes recoverable or payable and Federal income tax expense (benefit), excluding tax on capital gains on the balance sheets and statements of operations, respectively.

**Postretirement Benefits Other Than Pensions**

The Company accounts for its postretirement benefits other than pensions on an accrual basis. The postretirement benefit obligation for current retirees and fully eligible employees is measured by estimating the actuarial present value of benefits expected to be received at retirement using explicit assumptions.

Actuarial and investment gains and losses arising from differences between assumptions and actual experience upon subsequent remeasurement of the obligation may be recognized as a component of the net periodic benefit cost in the current period or amortized. The net gain or loss will be included as a component of net postretirement benefit cost for a year if, as of the beginning of the year, the unrecognized net gain or loss exceeds 10% of the postretirement benefit obligation. That gain or loss, if not recognized immediately, will be amortized over the average life expectancy of the employer's fully vested and retiree group.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**Accounting Changes**

Effective January 1, 2025, the NAIC adopted revisions to SSAP No. 26, *Bonds*, and SSAP No. 43, *Asset Backed-Securities*, to reflect accounting and reporting guidance under the Principles Based Bond Definition (PBBD) for qualified investments. As a result of these adoptions, investments qualified as issuer credit obligations are reported under SSAP No. 26; investments qualified as asset-backed securities are reported under SSAP No. 43.

Effective January 1, 2025, the NAIC adopted revisions to SSAP No. 21, *Other Admitted Assets*, to reflect accounting and reporting guidance for investments that do not meet the requirements of PBBD, and for residual tranches or interests/loss positions. There were no securities reclassified from debt securities to other invested assets.

There were no significant accounting changes in 2024, or 2023.

**Business Combinations**

On December 31, 2018, the Company purchased 100% of the common stock of Gerber Life from Nestlé S.A. (Nestlé). Gerber Life is an insurer that operates primarily in the juvenile life insurance and medical stop-loss insurance markets. Gerber Life is New York-domiciled and is licensed in 50 states, the District of Columbia, Puerto Rico and certain Canadian provinces. The cost of the acquired entity was $1,257.3 million. The original goodwill balance was $945.5 million, of which $528.1 million was admitted, based on an admission limit of 10% of adjusted company surplus as of the last reported period.

The transaction was accounted for as a statutory purchase and reflects the following:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Year** | **Admitted Goodwill at Reporting Date** | **Goodwill Amortized in Period** | **Book Value of Acquisition** | **Admitted Goodwill as a % of Admitted Acquisition** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |  |
| **2025** | $**283664** | $**94555** | $**1014883** | **28.0%** |
| 2024 | 378219 | 94555 | 1065422 | 35.5 |

---

The adjusted company surplus as of the last reported period was calculated as follows:

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
|  | *(In Thousands)* | *(In Thousands)* |
| Company Surplus as of September 30 | $**7629765** | $7311030 |
| &nbsp;&nbsp;&nbsp;Less September 30 electronic data processing | **21062** | 16380 |
| &nbsp;&nbsp;&nbsp;Less September 30 net deferred tax assets | **—** |  |
| &nbsp;&nbsp;&nbsp;Less September 30 net positive goodwill | **307303** | 401858 |
| Adjusted Company surplus as of September 30 | $**7301400** | $6892792 |
| Admitted goodwill as a percentage of adjusted surplus | **3.9%** | 5.5% |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**Subsequent Events** 

The Company recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the balance sheet date. For nonrecognized subsequent events that must be disclosed to keep the financial statements from being misleading, the Company is required to disclose the nature of the event as well as an estimate of its financial effect, or a statement that such an estimate cannot be made. Management has evaluated subsequent events through the issuance of these financial statements on April 20, 2026.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**2. Investments** 

The book/adjusted carrying value and fair value of the Company's investments in debt securities are summarized in the following tables. The tables pertaining to 2025 include revisions to bond categorization, reflecting the principles-based bond definition that was implemented as of January 1, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Book/ Adjusted Carrying Value** | **Gross Unrealized Gains** | **Gross Unrealized Losses** | **Fair<br>Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2025: |  |  |  |  |
| Issuer credit obligations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. government obligations, exempt from RBC | $**47975** | $**949** | $**(82)** | $**48842** |
| &nbsp;&nbsp;&nbsp;Non-US sovereign jurisdiction securities | **29073** | **310** | **(5171)** | **24212** |
| &nbsp;&nbsp;&nbsp;Municipal bonds - general obligations (direct and guaranteed) | **7910** | **171** | **—** | **8081** |
| &nbsp;&nbsp;&nbsp;Municipal bonds - special revenue | **37288** | **1124** | **(1681)** | **36731** |
| &nbsp;&nbsp;&nbsp;Corporate bonds | **2647047** | **77963** | **(193625)** | **2531385** |
| &nbsp;&nbsp;&nbsp;Single entity backed obligations | **10759** | **190** | **(773)** | **10176** |
| Subtotal issuer credit obligations | $**2780052** | $**80707** | $**(201332)** | $**2659427** |
| Asset backed securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Agency residential mortgage-backed securities - guaranteed (exempt from RBC) | $**10** | $**—** | $**—** | $**10** |
| &nbsp;&nbsp;&nbsp;Agency commercial mortgage-backed securities - guaranteed (exempt from RBC) | **808** | **13** | **—** | **821** |
| &nbsp;&nbsp;&nbsp;Agency residential mortgage-backed securities - not/partially guaranteed (not exempt from RBC) | **38247** | **134** | **(2654)** | **35727** |
| &nbsp;&nbsp;&nbsp;Non-agency residential mortgage-backed securities | **56683** | **579** | **(4733)** | **52529** |
| &nbsp;&nbsp;&nbsp;Non-agency commercial mortgage-backed securities | **28074** | **28** | **(2373)** | **25729** |
| &nbsp;&nbsp;&nbsp;Other financial asset-backed securities - self liquidating | **11625** | **2317** | **(68)** | **13874** |
| Subtotal asset backed securities | $**135447** | $**3071** | $**(9828)** | $**128690** |
| Total debt securities | $**2915499** | $**83778** | $**(211160)** | $**2788117** |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Book/ Adjusted Carrying Value** | **Gross Unrealized Gains** | **Gross Unrealized Losses** | **Fair<br>Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2024: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury securities and obligations of U.S. government corporation and agencies | $12227 | $— | $(257) | $11970 |
| &nbsp;&nbsp;&nbsp;Debt securities issued by states of the U.S. and political subdivisions of the states | 22233 | 238 | (74) | 22397 |
| &nbsp;&nbsp;&nbsp;Non-U.S. government securities | 44024 | 30 | (9277) | 34777 |
| &nbsp;&nbsp;&nbsp;Corporate securities | 2720339 | 57592 | (227586) | 2550345 |
| &nbsp;&nbsp;&nbsp;Commercial mortgage-backed securities | 22022 | 39 | (3740) | 18321 |
| &nbsp;&nbsp;&nbsp;Residential mortgage-backed securities | 101087 | 2671 | (9940) | 93818 |
| &nbsp;&nbsp;&nbsp;Asset-backed securities  | 87212 | 1041 | (4479) | 83774 |
| Total | $3009144 | $61611 | $(255353) | $2815402 |

---

At December 31, 2025 and 2024, the Company held unrated or below-investment-grade debt securities with a book/adjusted carrying value of $60.4 million and $118.6 million, respectively, and an aggregate fair value of $57.8 million and $114.8 million, respectively. As of December 31, 2025 and 2024, such holdings amounted to 2.1% and 3.9%, respectively, of the Company's investments in debt securities and 0.4% and 0.9%, respectively, of the Company's total admitted assets. The Company performs periodic evaluations of the relative credit standing of the issuers of these debt securities. The Company considers these evaluations in its overall investment strategy.

Unrealized gains and losses on investments in unaffiliated common stocks, mutual funds and common stocks of subsidiaries are reported directly in capital and surplus and do not affect net income. The unrealized gains and unrealized losses on, and the cost and fair value of those investments and preferred stocks are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Cost** | **Gross Unrealized Gains** | **Gross Unrealized Losses** | **Fair<br>Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2025: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stocks | $**94420** | $**979** | $**(5996)** | $**89403** |
| &nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $**243864** | $**203540** | $**(3626)** | $**443778** |
| &nbsp;&nbsp;&nbsp;Common stocks, mutual funds | **158126** | **25139** | **(9)** | **183256** |
| &nbsp;&nbsp;&nbsp;Common stocks, subsidiaries | **3834940** | **1392202** | **(104325)** | **5122817** |
|  | $**4236930** | $**1620881** | $**(107960)** | $**5749851** |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Cost** | **Gross Unrealized Gains** | **Gross Unrealized Losses** | **Fair<br>Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2024: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stocks | $79384 | $785 | $(1093) | $79076 |
| &nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $266354 | $232686 | $(2635) | $496405 |
| &nbsp;&nbsp;&nbsp;Common stocks, mutual funds | 158312 | 18894 | (351) | 176855 |
| &nbsp;&nbsp;&nbsp;Common stocks, subsidiaries | 3929495 | 1012968 | (152656) | 4789807 |
|  | $4354161 | $1264548 | $(155642) | $5463067 |

---

The following table shows unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** |
| | **Unrealized Losses** | **Fair** <br>**Value** | **Unrealized Losses** | **Fair <br>Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2025: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issuer credit obligations | $**(11553)** | $**396015** | $**(189779)** | $**1023062** |
| &nbsp;&nbsp;&nbsp;Asset backed securities | **(108)** | **7176** | **(9720)** | **85104** |
| Total debt securities | $**(11661)** | $**403191** | $**(199499)** | $**1108166** |
| Preferred stocks | $**(5996)** | $**40942** | $**—** | $**—** |
| &nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $**(3626)** | $**54222** | $**—** | $**—** |
| &nbsp;&nbsp;&nbsp;Common stocks, mutual funds | **(9)** | **618** | **—** | **—** |
| Total | $**(3635)** | $**54840** | $**—** | $**—** |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Less Than 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** | **Unrealized Losses Greater Than or Equal to 12 Months** |
| | **Unrealized Losses** | **Fair** <br>**Value** | **Unrealized Losses** | **Fair <br>Value** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2024: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury securities and obligations of U.S. government corporations and agencies | $(1) | $2317 | $(256) | $5603 |
| &nbsp;&nbsp;&nbsp;Debt securities issued by states of the U.S. and political subdivisions of the states | (74) | 11250 |  |  |
| &nbsp;&nbsp;&nbsp;Non-U.S. government securities | (159) | 5683 | (9118) | 24856 |
| &nbsp;&nbsp;&nbsp;Corporate securities | (21460) | 566703 | (206126) | 955511 |
| &nbsp;&nbsp;&nbsp;Commercial mortgage-backed securities<sup>(1)</sup> | (21) | 769 | (3719) | 17238 |
| &nbsp;&nbsp;&nbsp;Residential mortgage-backed securities<sup>(1)</sup> | (259) | 8550 | (9681) | 67816 |
| &nbsp;&nbsp;&nbsp;Asset-backed securities<sup>(1)</sup> | (49) | 6951 | (4430) | 53737 |
| Total debt securities | $(22023) | $602223 | $(233330) | $1124761 |
| &nbsp;&nbsp;&nbsp;Preferred stocks | $(1093) | $56798 | $— | $— |
| &nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $(2635) | $29708 | $— | $— |
| &nbsp;&nbsp;&nbsp;Common stocks, mutual funds | (351) | 17693 |  |  |
| Total | $(2986) | $47401 | $— | $— |

---

<sup>(1)</sup> Amounts relate to securities subject to SSAP 43R.

Investments that are impaired at December 31, 2025 and 2024, for which other-than-temporary impairments have not been recognized, consist mainly of corporate debt securities, asset-backed securities, residential mortgage-backed securities and unaffiliated common stocks.

The aggregated unrealized loss is approximately 12.1% and 12.2% of the carrying value of securities considered temporarily impaired at December 31, 2025 and 2024, respectively. At December 31, 2025, there were a total of 376 securities held that are considered temporarily impaired, 281 of which have been impaired for 12 months or longer. At December 31, 2024, there were a total of 458 securities held that were considered temporarily impaired, 299 of which had been impaired for 12 months or longer. The Company recorded other-than-temporary impairments on securities of $2.6 million, $0.6 million and $20.1 million for the years ended December 31, 2025, 2024 and 2023, respectively.

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The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The following is a list of each loan-backed security held at December 31, 2025, with a recognized other-than-temporary impairment (OTTI) for the year ended December 31, 2025, where the present value of future cash flows expected to be collected was less than the amortized cost basis of the securities.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CUSIP | **Book/Adj Carrying Value Amortized Cost Before Current Period OTTI** | **Present Value of Future Cash Flows** | **Recognized Other- <br>Than- Temporary Impairment** | **Amortized Cost After Other-Than-Temporary Impairment** | **Fair<br>Value** | **Date of Other-Than-Temporary Impairment** |  |
| CUSIP | **Book/Adj Carrying Value Amortized Cost Before Current Period OTTI** | **Present Value of Future Cash Flows** | **Recognized Other- <br>Than- Temporary Impairment** | **Amortized Cost After Other-Than-Temporary Impairment** | **Fair<br>Value** | **Date of Other-Than-Temporary Impairment** | *(In Thousands)* |
| CUSIP | **Book/Adj Carrying Value Amortized Cost Before Current Period OTTI** | **Present Value of Future Cash Flows** | **Recognized Other- <br>Than- Temporary Impairment** | **Amortized Cost After Other-Than-Temporary Impairment** | **Fair<br>Value** | **Date of Other-Than-Temporary Impairment** | For the year ended, December 31, 2025: |
| CUSIP | **Book/Adj Carrying Value Amortized Cost Before Current Period OTTI** | **Present Value of Future Cash Flows** | **Recognized Other- <br>Than- Temporary Impairment** | **Amortized Cost After Other-Than-Temporary Impairment** | **Fair<br>Value** | **Date of Other-Than-Temporary Impairment** | $— |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XXX | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XXX | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XXX | &nbsp;&nbsp;&nbsp;&nbsp; XXX | XXX |  |

---

The Company had no OTTI on loan-backed securities for the year ended December 31, 2025, due to the intent to sell the security or the inability or lack of intent to retain the investment in the security for a period of time sufficient to recover the amortized cost basis of the security.

A summary of the cost or amortized cost and fair value of the Company's debt securities at December 31, 2025, by contractual maturity, is as follows:

---

| | | |
|:---|:---|:---|
| | **Book/Adjusted Carrying Value** | **Fair<br>Value** |
|  | *(In Thousands)* | *(In Thousands)* |
| Years to maturity: |  |  |
| &nbsp;&nbsp;&nbsp;One or less | $72221 | $72747 |
| &nbsp;&nbsp;&nbsp;After one through five | 269431 | 280497 |
| &nbsp;&nbsp;&nbsp;After five through ten | 323045 | 332642 |
| &nbsp;&nbsp;&nbsp;After ten | 2115355 | 1973541 |
| &nbsp;&nbsp;&nbsp;Mortgage-backed securities/asset-backed securities | 135447 | 128690 |
| Total | $2915499 | $2788117 |

---

The expected maturities may differ from contractual maturities in the foregoing table because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties and because asset-backed and mortgage-backed securities (including floating-rate securities) provide for periodic payments throughout their lives.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Proceeds from sales of investments in debt securities during 2025, 2024 and 2023 were $259.2 million, $211.5 million, and $60.6 million; gross gains of $6.5 million, $6.4 million, and $0.6 million and gross losses of $2.3 million, $10.7 million, and $1.5 million were realized on these sales in 2025, 2024 and 2023, respectively.

Proceeds from the sales of investments in equity securities during 2025, 2024 and 2023 were $311.1 million, $313.3 million, and $357.2 million; gross gains of $90.5 million, $45.5 million, and $80.7 million and gross losses of $6.4 million, $1.9 million, and $12.4 million were realized on these sales in 2025, 2024 and 2023, respectively.

Realized capital gains (losses) are reported net of federal income taxes and amounts transferred to the IMR as follows for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Realized capital gains (losses) | $**52321** | $(21027) | $(17404) |
| Less amount transferred to IMR (net of related taxes (benefits) of $505 in 2025, $(753) in 2024, and $(183) in 2023) | **1898** | (2833) | (689) |
| Less federal income tax expense (benefit) of realized capital gains (losses) | **5768** | 3904 | (654) |
| Net realized capital gains (losses) | $**44655** | $(22098) | $(16061) |

---

Net investment income was generated from the following for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Debt securities | $**149991** | $144410 | $145319 |
| Equity securities | **186047** | 427980 | 294929 |
| Mortgage loans | **2165** | 2231 | 2273 |
| Real estate | **12168** | 10597 | 10536 |
| Policy loans | **10578** | 10699 | 10582 |
| Cash, cash equivalents and short-term investments | **4341** | 5915 | 2588 |
| Other invested assets | **95426** | 144311 | 195684 |
| Other | **118** | 233 | 621 |
| Gross investment income | **460834** | 746376 | 662532 |
| Investment expenses | **69313** | 68938 | 71769 |
| Net investment income | $**391521** | $677438 | $590763 |

---

The Company's investments in mortgage loans principally involve commercial real estate. At December 31, 2025, 80.6% of such mortgages, or $41.4 million, involved properties located in Ohio, Washington, and South Carolina. Such investments consist of primarily first-mortgage liens on completed income-producing properties. The aggregate mortgage outstanding to any one borrower does not exceed $20.5 million. During 2025, there were no loans issued. At the issuance of a loan, the percentage of any one loan to value of security, exclusive of insured, guaranteed or purchase money mortgage did not exceed 80.0%. During 2025, the Company did not reduce interest rates on any outstanding mortgages.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**3. Fair Values of Financial Instruments**

Included in various investment-related line items in the financial statements are certain financial instruments carried at fair value. Other financial instruments are periodically measured at fair value such as when impaired or, for certain bonds and preferred stocks, when carried at the lower of cost or market.

The Company uses fair value measurements to record the fair value of certain assets and liabilities and to estimate the fair value of financial instruments not recorded at fair value but required to be disclosed at fair value. Certain financial instruments, particularly policyholder liabilities other than investment-type contracts, are excluded from this fair value discussion.

Fair value is defined as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The Company's financial assets and liabilities carried at fair value have been classified, for disclosure purposes, based on the following hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three levels. The Company's policy is to recognize transfers in and transfers out of levels at the beginning of the quarterly reporting period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities. The Company's Level 1 assets and liabilities primarily include exchange-traded equity securities and mutual funds, including those which are part of the Company's separate account assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. The Company's Level 2 assets and liabilities primarily include debt securities within the Company's separate account for which public quotations are not available, but that are priced by third-party pricing services or internal models using observable inputs. Also included in Level 2 assets and liabilities are preferred stock and fixed income residual tranches. The fair value of these instruments is determined through the use of third-party pricing services or models utilizing market observable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - Significant unobservable inputs for the asset or liability. The Company's Level 3 assets and liabilities primarily include private real estate funds within the Company's separate account that are priced utilizing significant unobservable inputs. Also included in Level 3 assets and liabilities are common and preferred stocks being priced by broker quotes or utilizing recent financing for similar securities.

Fair value estimates are made at a specific point in time, based on available market information and judgments about the financial instrument, including discount rates, estimates of timing, amount of expected future cash flows and the credit standing of the issuer. Such estimates do not consider the tax impact of the realization of unrealized gains or losses.

For Level 3 investments, the fair value estimates cannot be substantiated by comparison to independent markets. In addition, the disclosed fair value may not be realized in the immediate settlement of the financial instrument.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Certain investments utilize net asset value (NAV) as a practical expedient for fair value. These investments are reported separately from the hierarchy. Investments utilizing NAV consist mainly of equity interest in limited partnerships and limited liabilities in the separate account. These investments contain fixed income, common stock, and real estate characteristics. The interests in these partnerships can be sold or transferred with prior consent from the general partner. The average remaining life of the investments is 14.3 years. The Company's unfunded commitment for these investments is $41.1 million. In addition, a collective trust in the separate account utilizing NAV is primarily investing in domestic fixed income securities. Shares in the trust can be redeemed at their net asset value. The NAV for this investment is $12.14. The Company does not intend to sell any investments utilizing NAV.

As described below, certain fair values are determined through the use of third-party pricing services. Management does not adjust prices received from third parties; however, the Company does analyze the third-party pricing services' valuation methodologies and related inputs and performs additional evaluation to determine the appropriate level within the fair value hierarchy. The Company performs annual due diligence of third-party pricing services, which includes assessing the vendor's valuation qualifications, control environment, analysis of asset class-specific valuation methodologies and understanding of market observable assumptions and unobservable assumptions, if any, employed in the valuation methodology. Care should be exercised in deriving conclusions about the Company's business, its value or financial position based on the fair value information of financial instruments presented below. The following discussion describes the valuation methodologies utilized by the Company for assets and liabilities measured or disclosed at fair value.

*Debt and Equity Securities*

The fair values of debt securities and asset/mortgage-backed securities have been determined through the use of third-party pricing services utilizing market observable inputs. Private placement securities trading in less liquid or illiquid markets with limited or no pricing information are valued using either broker quotes or by discounting the expected cash flows using current market-consistent rates applicable to the yield, credit quality and maturity of each security.

The fair values of actively traded equity securities and exchange traded funds (including exchange traded funds with debt like characteristics) have been determined utilizing publicly quoted prices obtained from third-party pricing services. The fair values of certain equity securities for which no publicly quoted prices are available have been determined through the use of third-party pricing services utilizing market observable inputs. Actively traded mutual funds are valued using the net asset values of the funds. The fair value of equity securities included in Level 3 has been determined by utilizing broker quotes or recent financing for similar securities.

*Mortgage Loans*

The fair values for mortgage loans, consisting principally of commercial real estate loans, are estimated using discounted cash flow analyses, using interest rates currently being offered for similar loans collateralized by properties with similar investment risk. The fair values for mortgage loans in default are established at the lower of the fair value of the underlying collateral less costs to sell or the carrying amount of the loan.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

*Cash, Cash Equivalents and Short-Term Investments*

The fair values of cash, cash equivalents and short-term investments are based on quoted market prices or stated amounts.

*Securities Lending Reinvested Collateral Assets*

The fair values of securities lending reinvested collateral assets are determined through the use of third-party sources utilizing publicly quoted prices.

*Other Invested Assets*

Other invested assets primarily include surplus debentures and fixed income residual tranches for which fair values have been determined through the use of third-party pricing services utilizing market observable inputs.

*Assets Held in Separate Accounts*

Assets held in separate accounts include debt securities, equity securities, mutual funds, surplus notes, private equity, and private debt fund investments. The fair values of debt securities, equity securities and mutual funds have been determined using the same methodologies as similar assets held in the general account. The fair values of private equity and private debt fund investments have been determined utilizing the net asset values of the funds. The fair values of the private real estate funds have been determined by significant unobservable inputs.

*Life and Annuity Reserves for Investment-Type Contracts and Deposit Fund Liabilities*

The fair value of liabilities for investment-type contracts is based on the present value of estimated liability cash flows, which are discounted using rates that incorporate risk-free rates and margins for the Company's own credit spread and the riskiness of cash flows. Key assumptions to the cash flow model include the timing of policyholder withdrawals and the level of interest credited to contract balances. Fair values for insurance reserves are not required to be disclosed. However, the estimated fair values of all insurance reserves and investment contracts are taken into consideration in the Company's overall management of interest rate risk.

*Securities Lending Liability*

The liability represents the Company's obligation to return collateral related to securities lending transactions. The liability is short-term in nature and therefore, the fair value of the obligation approximates the carrying amount.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

Assets and liabilities measured at fair value on a recurring basis are outlined below:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Assets/(Liabilities) Measured at Fair Value** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** | |
| | **Assets/(Liabilities) Measured at Fair Value** | **Level 1** | **Level 2** | **Level 3** |<br>**NAV** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| **At December 31, 2025** |  |  |  |  |  |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $**443778**  | $**426228**  | $**—**  | $**17550**  | $**—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks, mutual funds | **183256**  | **183256**  | **—**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stocks | **89403**  | **—**  | **66846**  | **22557**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets, fixed income residual tranche | **20898**  | **—**  | **20898**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | **1329064**  | **859948**  | **175168**  | **52086**  | **241862**  |
| Total assets | $**2066399**  | $**1469432**  | $**262912**  | $**92193**  | $**241862**  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Assets/(Liabilities) Measured at Fair Value** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** | |
| | **Assets/(Liabilities) Measured at Fair Value** | **Level 1** | **Level 2** | **Level 3** |<br>**NAV** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| **At December 31, 2024** |  |  |  |  |  |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds, exchange traded funds | $132923  | $132923  | $—  | $—  | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | 496405  | 481288  | —  | 15117  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks, mutual funds | 176855  | 176855  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stocks | 79076  | —  | 53436  | 25640  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets, fixed income residual tranche | 25850  | —  | 25850  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | 1214528  | 787991  | 162677  | 39319  | 224541  |
| Total assets | $2125637  | $1579057  | $241963  | $80076  | $224541  |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2025 are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Beginning Asset/(Liability) as of January 1, 2025** | **Total Realized/Unrealized Gains (Losses) Included in:** | **Total Realized/Unrealized Gains (Losses) Included in:** | **Total Realized/Unrealized Gains (Losses) Included in:** | **Purchases, Sales, Issuances and Settlements** | **Transfers Into Level 3** | **Transfers Out of Level 3** | **Ending Asset/ (Liability) as of December 31,<br>2025** |
| | **Beginning Asset/(Liability) as of January 1, 2025** | **Net Income** | **Surplus** | **Other\*** | **Purchases, Sales, Issuances and Settlements** | **Transfers Into Level 3** | **Transfers Out of Level 3** | **Ending Asset/ (Liability) as of December 31,<br>2025** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Common stocks, unaffiliated | $**15117**  | $**—**  | $**2433**  | $**—**  | $**—**  | $**—**  | $**—**  | $**17550**  |
| &nbsp;&nbsp;Preferred stocks | **25640**  | **—**  | **(4676)** | **—**  | **1593**  | **—**  | **—**  | **22557**  |
| &nbsp;&nbsp;Separate account assets | **39319**  | **—**  | **—**  | **1153**  | **11614**  | **—**  | **—**  | **52086**  |
| Total assets | $**80076**  | $**—**  | $**(2243)** | $**1153**  | $**13207**  | $**—**  | $**—**  | $**92193**  |

---

\* Gains and losses for assets held in separate accounts do not impact net income or surplus as the change in value of assets held in separate accounts is offset by a change in value of liabilities related to separate accounts.

The gross purchases, issuances, sales and settlements included in the reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2025, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Purchases** | **Issuances** | **Sales** | **Settlements** | **Net Purchases, Issuances, Sales and Settlements** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $**—**  | $**—**  | $**—**  | $**—**  | $**—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stocks | **1593**  | **—**  | **—**  | **—**  | **1593**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | **12400**  | **—**  | **(786)** | **—**  | **11614**  |
| Total assets | $**13993**  | $**—**  | $**(786)** | $**—**  | $**13207**  |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2024, is as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Beginning Asset/(Liability)as of January 1, 2024** | **Total Realized/Unrealized Gains (Losses) Included in:** | **Total Realized/Unrealized Gains (Losses) Included in:** | **Total Realized/Unrealized Gains (Losses) Included in:** | **Purchases, Sales, Issuances and Settlements** | **Transfers Into Level 3** | **Transfers Out of Level 3** | **Ending Asset/ (Liability) as of December 31, 2024** |
| | **Beginning Asset/(Liability)as of January 1, 2024** | **Net Income** | **Surplus** | **Other\*** | **Purchases, Sales, Issuances and Settlements** | **Transfers Into Level 3** | **Transfers Out of Level 3** | **Ending Asset/ (Liability) as of December 31, 2024** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Common stocks, unaffiliated | $17110  | $785 | $(925) | $—  | $(1853) | $— | $—  | $15117  |
| &nbsp;&nbsp;Preferred stocks | 14618  | (133) | 155 | —  | 11000  |  | —  | 25640  |
| &nbsp;&nbsp;Separate account assets | 23734  |  |  | 1224  | 14361  |  | —  | 39319  |
| Total assets | $55462  | $652 | $(770) | $1224  | $23508  | $— | $—  | $80076  |

---

\* Gains and losses for assets held in separate accounts do not impact net income or surplus as the change in value of assets held in separate accounts is offset by a change in value of liabilities related to separate accounts.

The gross purchases, issuances, sales and settlements included in the reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Purchases** | **Issuances** | **Sales** | **Settlements** | **Net Purchases, Issuances, Sales and Settlements** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks, unaffiliated | $—  | $— | $(1853) | $—  | $(1853) |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stocks | 11000  |  |  | —  | 11000  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | 15998  |  | (1637) | —  | 14361  |
| Total Assets | $26998  | $— | $(3490) | $—  | $23508  |

---

The Company did not have any significant assets or liabilities measured at fair value on a nonrecurring basis as of December 31, 2025 and 2024.

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The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The carrying amounts and fair values of the Company's significant financial instruments follow:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Carrying Amount** | **Fair Value** | **Level 1** | **Level 2** | **Level 3** | **NAV** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issuer credit obligations | $**2780052**  | $**2659427**  | $**47453**  | $**2605974**  | $**6000**  | $**—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | **135447**  | **128690**  | **—**  | **128690**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated | **443778**  | **443778**  | **426228**  | **—**  | **17550**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual funds | **183256**  | **183256**  | **183256**  | **—**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | **89403**  | **89403**  | **—**  | **66846**  | **22557**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans | **51412**  | **49534**  | **—**  | **—**  | **49534**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments  | **254980**  | **255002**  | **255002**  | **—**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Surplus notes | **44873**  | **43156**  | **—**  | **43156**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed income residual tranche | **20898**  | **20898**  | **—**  | **20898**  | **—**  | **—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | **1329064**  | **1329064**  | **859948**  | **175168**  | **52086**  | **241862**  |
| Liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Life and annuity reserves for investment-type contracts and deposit fund liabilities | $**(1944)** | $**(1938)** | $**—**  | $**—**  | $**(1938)** | $**—**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities lending liability | **(133159)** | **(133159)** | **—**  | **(133159)** | **—**  | **—**  |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Carrying Amount** | **Fair Value** | **Level 1** | **Level 2** | **Level 3** | **NAV** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds | $3009144  | $2815402  | $138526  | $2669876  | $7000  | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated | 496405  | 496405  | 481288  | —  | 15117  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual funds | 176855  | 176855  | 176855  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | 79076  | 79076  | —  | 53436  | 25640  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans | 53037  | 48837  | —  | —  | 48837  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments  | 132777  | 132794  | 132794  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other invested assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Surplus notes | 38926  | 35684  | —  | 35684  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed income residual tranche | 25850  | 25850  | —  | 25850  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities lending reinvested collateral assets | —  | —  | —  | —  | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | 1214528  | 1214528  | 787991  | 162677  | 39319  | 224541  |
| Liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Life and annuity reserves for investment-type contracts and deposit fund liabilities | $(2236) | $(2165) | $—  | $—  | $(2165) | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities lending liability | (111893) | (111893) | —  | (111893) | —  | —  |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**4. Related-Party Transactions**

The Company owns a 100% interest in Integrity and WSLAC, whose carrying values based on underlying statutory surplus at December 31, 2025, are $1.4 billion and $2.2 billion, respectively. The accounting policies of Integrity and WSLAC are the same as those of the Company described in Note 1. The summary financial data for Integrity and WSLAC follows:

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
|  | *(In Thousands)* | *(In Thousands)* |
| **Integrity:** |  |  |
| Admitted Assets | $**8512875** | $8623981 |
| Liabilities | **7114261** | 7349809 |
| Statutory Surplus | $**1398614** | $1274172 |
| Net Income | $**52420** | $118052 |
| **WSLAC:** |  |  |
| Admitted Assets | $**39733479** | $35071019 |
| Liabilities | **37497403** | 33045720 |
| Statutory Surplus | $**2236076** | $2025299 |
| Net Income | $**163253** | $248976 |

---

The Company has an equity interest in certain partnerships that made payments of principal and interest under mortgage financing arrangements to subsidiaries in the amount of $29.1 million, $30.6 million, and $26.0 million in 2025, 2024 and 2023, respectively. The principal balance of the mortgage financing arrangements with subsidiaries was $291.2 million and $300.6 million at December 31, 2025 and 2024, respectively.

At December 31, 2025 and 2024, the Company had $94.1 million and $217.1 million, respectively, invested in the Touchstone Funds, which are exchange traded and mutual funds administered by Touchstone Advisors, Inc., an indirect subsidiary of the Company.

At December 31, 2025 and 2024, the Company had $503.0 million and $611.2 million, respectively, invested in fixed income residual tranches and various private equity and private debt funds managed by Fort Washington Investment Advisors, Inc., a subsidiary of the Company.

At December 31, 2025 and 2024, the Company had $1,546.3 million and $1,339.4 million, respectively, invested in WS Real Estate Holdings, LLC, which is a holding company managed by Eagle Realty Group, LLC, a subsidiary of the Company.

The Company had an outstanding loan due to WSLAC in the amount of $0.0 million and $0.0 million as of December 31, 2025 and 2024, respectively. The loan is in the form of a line of credit that can be drawn up to $250.0 million, with any outstanding principal due January 6, 2033.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

In November 2025, the Company received a $100.0 million ordinary dividend from Integrity. The dividend was in the form of cash.

In November 2025, the Company received a $50.0 million ordinary dividend from Gerber Life. The dividend was in the form of cash.

In August 2025, the Company sold $84.0 million of fixed income securities in exchange for cash to WSLAC. The fixed income securities sold were exchange traded funds administered by Touchstone Advisors, Inc.

In July 2025, the Company sold $49.9 million of equity securities in exchange for cash to The Lafayette Life Insurance Company (Lafayette Life).

In April 2025, the Company sold $49.5 million of fixed income securities in exchange for cash to Gerber Life. The fixed income securities sold were exchange traded funds administered by Touchstone Advisors, Inc.

In October 2024, the Company received a $200.0 million dividend from Integrity. Of the total dividend received, $7.7 million was ordinary and $192.3 million was extraordinary. The dividend was in the form of $160.3 million in cash and $39.7 million in equity securities.

In July 2024, the Company sold $71.3 million of other invested assets in exchange for cash to WSLAC.

In June 2024, the Company received a $45.0 million capital contribution from WSFG. The contribution was in the form of cash.

In June 2024, the Company received a $50.0 million ordinary dividend from Gerber Life. The dividend was in the form of cash.

In April 2024, the Company sold $62.9 million of equity securities in exchange for cash to National. The equity securities sold were exchange traded funds administered by Touchstone Advisors, Inc.

In March 2024, the Company paid a $155.0 million ordinary dividend to WSFG. The dividend was in the form of cash.

In March 2024, the Company received a $155.0 million ordinary dividend from WSLAC. The dividend was in the form of cash.

In March 2024, the Company sold $50.0 million of fixed income securities in exchange for cash to Gerber Life. The fixed income securities sold were exchange traded funds administered by Touchstone Advisors, Inc.

In December 2023, the Company received a $150.0 million capital contribution from WSFG. The contribution was in the form of cash.

In December 2023, the Company paid a $275.0 million capital contribution to WSLAC. The contribution was in the form of $225.0 million and $50.0 million in cash and equity securities, respectively.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

In December 2023, the Company received a $125.0 million ordinary dividend from Integrity. The dividend was in the form of $75.0 million and $50.0 million in cash and equity securities, respectively.

In August 2023, the Company entered into a Pension Risk Transfer agreement with WSLAC. Refer to Note 10 for more detail.

In June and July 2023, the Company sold $25.0 million and $24.0 million of equity securities, respectively, in exchange for cash to Gerber Life.

In March 2023, the Company paid a $245.0 million ordinary dividend to WSFG. The dividend was in the form of cash.

In March 2023, the Company received a $150.0 million ordinary dividend from WSLAC. The dividend was in the form of cash.

In the the first quarter of 2023, the Company sold $80.0 million of equity securities in exchange for cash to National.

The Company had $49.9 million and $28.0 million receivable from parent, subsidiaries and affiliates as of December 31, 2025 and 2024, respectively. The Company had $0.9 million and $2.8 million payable to parent, subsidiaries and affiliates as of December 31, 2025 and 2024, respectively. The terms of the settlement generally require that these amounts be settled in cash within 30 days.

The Company has entered into multiple reinsurance agreements with affiliated entities. See Note 5 for further description.

**5. Reinsurance**

Certain premiums and benefits are assumed from and ceded to other insurance companies under various reinsurance agreements. The ceded reinsurance agreements provide the Company with increased capacity to write larger risks and maintain its exposure to loss within its capital resources.

The Company has a ceded reinsurance agreement with Columbus Life. Under the reinsurance agreement, Columbus Life reinsures the former liabilities of Columbus Mutual, a former affiliate, which was merged into the Company. Life and accident and health reserves ceded from the Company to Columbus Life totaled $378.3 million and $399.7 million at December 31, 2025 and 2024, respectively.

In 2006, the Company entered into a yearly renewable term reinsurance agreement with Lafayette Life whereby the Company provides reinsurance coverage on certain life products and associated riders as this coverage is recaptured by Lafayette Life from unaffiliated reinsurers. Life reserves ceded from Lafayette Life to the Company under this agreement totaled $0.7 million and $0.7 million at December 31, 2025 and 2024, respectively.

Certain premiums and benefits are ceded to other unaffiliated insurance companies under various reinsurance agreements. The majority of the ceded business is due to ceding substandard business to reinsurers (facultative basis).

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The effects of reinsurance on premiums, annuity considerations and deposit-type funds are as follows for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Direct premiums | $**205311** | $205460 | $218455 |
| Assumed premiums: |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliates | **1166** | 1129 | 1074 |
| &nbsp;&nbsp;&nbsp;Nonaffiliates | **—** | **—** | **—** |
| Ceded premiums: |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliates | **—** | **—** | **—** |
| &nbsp;&nbsp;&nbsp;Nonaffiliates | **(7657)** | (7291) | (7043) |
| Net premiums | $**198820** | $199298 | $212486 |

---

The Company's ceded reinsurance arrangements impacted certain other items in the accompanying financial statements by the following amounts as of and for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Policy and contract claims: |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliates | $**—** | $**—** | $**—** |
| &nbsp;&nbsp;&nbsp;Nonaffiliates | **4804** | 3814 | 3846 |
| Policy and contract liabilities: |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliates | **378299** | 399724 | 421470 |
| &nbsp;&nbsp;&nbsp;Nonaffiliates | **35615** | 34169 | 33465 |
| Amounts recoverable on reinsurance contracts: |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliates | **—** | **—** | **—** |
| &nbsp;&nbsp;&nbsp;Nonaffiliates | **326** | 544 | 118 |

---

In 2025, 2024 and 2023, the Company did not commute any ceded reinsurance nor did it enter into or engage in any agreement that reinsures policies or contracts that were in-force or had existing reserves as of the effective date of such agreements.

At December 31, 2025, the Company has no significant reserves ceded to unauthorized reinsurers. Amounts payable or recoverable for reinsurance on policy and contract liabilities are not subject to periodic or maximum limits.

Neither the Company nor any of its related parties, control directly or indirectly, any reinsurers with whom the Company conducts business. No policies issued by the Company have been reinsured with a foreign company, which is controlled, either directly or indirectly, by a party not primarily engaged in the business of insurance. The Company does not have any reinsurance agreements in effect under which the reinsurer may unilaterally cancel the agreement. At December 31, 2025, there are no reinsurance

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

agreements in effect such that the amount of losses paid or accrued exceed the total direct premium collected. The Company remains obligated for amounts ceded in the event that the reinsurers do not meet their obligations.

There would be no reduction in surplus at December 31, 2025, if all reinsurance agreements were cancelled.

**6. Federal Income Taxes**

The Company and its eligible subsidiaries and affiliates file a consolidated federal income tax return. Amounts due (to)/from the Internal Revenue Service for federal income taxes, net of the amounts due (to)/from subsidiaries and affiliates, were $109.0 million and $111.9 million at December 31, 2025 and 2024, respectively.

The components of the net deferred tax asset (liability) at December 31 are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **12/31/2025** | **12/31/2025** | **12/31/2025** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(1)** | **(2)** | **(3)** |
|  |  |  |  | **(Col 1+2)** |
|  |  | **Ordinary** | **Capital** | **Total** |
| (a) | Gross deferred tax assets | $**216821** | $**8270** | $**225091** |
| (b) | Statutory valuation allowance adjustments | **—** | **—** | **—** |
| (c) | Adjusted gross deferred tax assets (a - b) | **216821** | **8270** | **225091** |
| (d) | Deferred tax assets nonadmitted | **—** | **—** | **—** |
| (e) | Subtotal net admitted deferred tax assets (c - d) | **216821** | **8270** | **225091** |
| (f) | Deferred tax liabilities | **170139** | **84514** | **254653** |
| (g) | Net admitted deferred tax asset/(net deferred tax liability) (e - f) | $**46682** | $**(76244)** | $**(29562)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(4)** | **(5)** | **(6)** |
|  |  |  |  | **(Col 4+5)** |
|  |  | **Ordinary** | **Capital** | **Total** |
| (a) | Gross deferred tax assets | $300826 | $7344 | $308170 |
| (b) | Statutory valuation allowance adjustments |  |  |  |
| (c) | Adjusted gross deferred tax assets (a - b) | 300826 | 7344 | 308170 |
| (d) | Deferred tax assets nonadmitted |  |  |  |
| (e) | Subtotal net admitted deferred tax assets (c - d) | 300826 | 7344 | 308170 |
| (f) | Deferred tax liabilities | 256305 | 67930 | 324235 |
| (g) | Net admitted deferred tax asset/(net deferred tax liability) (e - f) | $44521 | $(60586) | $(16065) |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **Change** | **Change** | **Change** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(7)** | **(8)** | **(9)** |
|  |  |  |  | **(Col 7+8)** |
|  |  | **Ordinary** | **Capital** | **Total** |
| (a) | Gross deferred tax assets | $(84005) | $926 | $(83079) |
| (b) | Statutory valuation allowance adjustments |  |  |  |
| (c) | Adjusted gross deferred tax assets (a - b) | (84005) | 926 | (83079) |
| (d) | Deferred tax assets nonadmitted |  |  |  |
| (e) | Subtotal net admitted deferred tax assets (c - d) | (84005) | 926 | (83079) |
| (f) | Deferred tax liabilities | (86166) | 16584 | (69582) |
| (g) | Net admitted deferred tax asset/(net deferred tax liability) (e - f) | $2161 | $(15658) | $(13497) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **12/31/2025** | **12/31/2025** | **12/31/2025** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(1)** | **(2)** | **(3)** |
|  |  |  |  | **(Col 1+2)** |
| Admission Calculation Components SSAP No. 101 | Admission Calculation Components SSAP No. 101 | **Ordinary** | **Capital** | **Total** |
| (a) | Federal income taxes paid in prior years recoverable through loss carrybacks | $**—** | $**8270** | $**8270** |
| (b) | Adjusted gross deferred tax assets expected to be realized (excluding the amount of deferred tax assets from (a) above) after application of the threshold limitation (the lesser of (b)1 and (b)2 below) | **39513** | **—** | **39513** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1. Adjusted gross deferred tax assets expected to be realized following the balance sheet date | **39513** | **—** | **39513** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2. Adjusted gross deferred tax assets allowed per limitation threshold. | **XXX** | **XXX** | **1139777** |
| (c) | Adjusted gross deferred tax assets (excluding the amount of deferred tax assets from (a) and (b) above) offset by gross deferred tax liabilities | **177308** | **—** | **177308** |
| (d) | Deferred tax assets admitted as the result of application of SSAP No. 101 Total ((a) + (b) + (c)) | $**216821** | $**8270** | $**225091** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(4)** | **(5)** | **(6)** |
|  |  |  |  | **(Col 4+5)** |
| Admission Calculation Components SSAP No. 101 | Admission Calculation Components SSAP No. 101 | **Ordinary** | **Capital** | **Total** |
| (a) | Federal income taxes paid in prior years recoverable through loss carrybacks | $— | $7344 | $7344 |
| (b) | Adjusted gross deferred tax assets expected to be realized (excluding the amount of deferred tax assets from (a) above) after application of the threshold limitation (the lesser of (b)1 and (b)2 below) | 26824 |  | 26824 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1. Adjusted gross deferred tax assets expected to be realized following the balance sheet date | 26824 |  | 26824 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2. Adjusted gross deferred tax assets allowed per limitation threshold. | XXX | XXX | 1046509 |
| (c) | Adjusted gross deferred tax assets (excluding the amount of deferred tax assets from (a) and (b) above) offset by gross deferred tax liabilities | 274002 |  | 274002 |
| (d) | Deferred tax assets admitted as the result of application of SSAP No. 101 Total ((a) + (b) + (c)) | $300826 | $7344 | $308170 |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **Change** | **Change** | **Change** |
|  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | **(7)** | **(8)** | **(9)** |
|  |  |  |  | **(Col 7+8)** |
| Admission Calculation Components SSAP No. 101 | Admission Calculation Components SSAP No. 101 | **Ordinary** | **Capital** | **Total** |
| (a) | Federal income taxes paid in prior years recoverable through loss carrybacks | $— | $926 | $926 |
| (b) | Adjusted gross deferred tax assets expected to be realized (excluding the amount of deferred tax assets from (a) above) after application of the threshold limitation (the lesser of (b)1 and (b)2 below) | 12689 |  | 12689 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1. Adjusted gross deferred tax assets expected to be realized following the balance sheet date | 12689 |  | 12689 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2. Adjusted gross deferred tax assets allowed per limitation threshold. | XXX | XXX | 93268 |
| (c) | Adjusted gross deferred tax assets (excluding the amount of deferred tax assets from (a) and (b) above) offset by gross deferred tax liabilities | (96694) |  | (96694) |
| (d) | Deferred tax assets admitted as the result of application of SSAP No. 101 Total ((a) + (b) + (c)) | $(84005) | $926 | $(83079) |

---

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
| Ratio percentage used to determine recovery period and threshold limitation amount | **865%** | 881% |

---

---

| | | | |
|:---|:---|:---|:---|
| | | **12/31/2025** | **12/31/2025** |
| | | **(1)** | **(2)** |
| Impact of tax planning strategies | Impact of tax planning strategies | **Ordinary** | **Capital** |
|  |  | *(In Thousands)* | *(In Thousands)* |
| (a) | Adjusted gross DTAs amount | **$216821** | **$8270** |
| (b) | Percentage of adjusted gross DTAs by tax character attributable to the impact of tax planning strategies | **11.26%** | **3.67%** |
| (c) | Net admitted adjusted gross DTAs amount | **$216821** | **$8270** |
| (d) | Percentage of net admitted adjusted gross DTAs by tax character attributable to the impact of tax planning strategies | **11.26%** | **3.67%** |

---

---

| | | | |
|:---|:---|:---|:---|
| | | **12/31/2024** | **12/31/2024** |
| | | **(3)** | **(4)** |
| Impact of tax planning strategies | Impact of tax planning strategies | **Ordinary** | **Capital** |
|  |  | *(In Thousands)* | *(In Thousands)* |
| (a) | Adjusted gross DTAs amount | $300826 | $7344 |
| (b) | Percentage of adjusted gross DTAs by tax character attributable to the impact of tax planning strategies | 3.87% | 2.38% |
| (c) | Net admitted adjusted gross DTAs amount | $300826 | $7344 |
| (d) | Percentage of net admitted adjusted gross DTAs by tax character attributable to the impact of tax planning strategies | 3.87% | 2.38% |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | |
|:---|:---|:---|:---|
| | | **Change** | **Change** |
| | | **(5)** | **(6)** |
| Impact of tax planning strategies | Impact of tax planning strategies | **Ordinary** | **Capital** |
|  |  | *(In Thousands)* | *(In Thousands)* |
| (a) | Adjusted gross DTAs amount | $(84005) | $926 |
| (b) | Percentage of adjusted gross DTAs by tax character attributable to the impact of tax planning strategies | 7.39% | 1.29% |
| (c) | Net admitted adjusted gross DTAs amount | $(84005) | $926 |
| (d) | Percentage of net admitted adjusted gross DTAs by tax character attributable to the impact of tax planning strategies | 7.39% | 1.29% |

---

The Company's tax planning strategies include the use of reinsurance.

Current income taxes incurred consist of the following major components:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | **12/31/2025** | **12/31/2024** | **12/31/2023** |
|  |  |  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| (1) | Current income tax | Current income tax |  |  |  |
|  | (a) | Federal | $**(40101)** | $(26492) | $(47285) |
|  | (b) | Foreign | **132** | 180 | 196 |
|  | (c) | Subtotal | **(39969)** | (26312) | (47089) |
|  | (d) | Federal income tax on net capital gains | **5768** | 3904 | (654) |
|  | (e) | Utilization of capital loss carryforwards | **—** |  |  |
|  | (f) | Other | **—** |  |  |
|  | (g) | Federal and foreign income taxes incurred | $**(34201)** | $(22408) | $(47743) |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | **(1)** | **(2)** | **(3)** |
| | | | | | **(Col 1-2)** |
| (2) | Deferred tax assets: | Deferred tax assets: | **12/31/2025** | **12/31/2024** | **Change** |
|  | (a) | Ordinary | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  |  | (1) Discounting of unpaid losses | $**—** | $— | $— |
|  |  | (2) Unearned premium revenue | **—** |  |  |
|  |  | (3) Policyholder reserves | **30470** | 31003 | (533) |
|  |  | (4) Investments | **18937** | 22497 | (3560) |
|  |  | (5) Deferred acquisition costs | **20758** | 20126 | 632 |
|  |  | (6) Policyholder dividends accrual | **4823** | 3642 | 1181 |
|  |  | (7) Fixed assets | **6769** | 4237 | 2532 |
|  |  | (8) Compensation and benefits accrual | **16035** | 114283 | (98248) |
|  |  | (9) Pension accrual | **—** |  |  |
|  |  | (10) Receivables - nonadmitted | **115014** | 101050 | 13964 |
|  |  | (11) Net operating loss carryforward | **—** |  |  |
|  |  | (12) Tax credit carryforward | **—** |  |  |
|  |  | (13) Other | **4015** | 3988 | 27 |
|  |  | (99) Subtotal | **216821** | 300826 | (84005) |
|  | (b) | Statutory valuation allowance adjustment | **—** |  |  |
|  | (c) | Nonadmitted | **—** |  |  |
|  | (d) | Admitted ordinary deferred tax assets (2a99 - 2b - 2c) | **216821** | 300826 | (84005) |
|  | (e) | Capital |  |  |  |
|  |  | (1) Investments | **8270** | 7344 | 926 |
|  |  | (2) Net capital loss carryforward | **—** |  |  |
|  |  | (3) Real estate | **—** |  |  |
|  |  | (4) Other | **—** |  |  |
|  |  | (99) Subtotal | **8270** | 7344 | 926 |
|  | (f) | Statutory valuation allowance adjustment | **—** |  |  |
|  | (g) | Nonadmitted | **—** |  |  |
|  | (h) | Admitted capital deferred tax assets (2e99- 2f - 2g) | **8270** | 7344 | 926 |
|  | (i) | Admitted deferred tax assets (2d + 2h) | $**225091** | $308170 | $(83079) |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | **(1)**<br>**12/31/2025** | **(2)**<br>**12/31/2024** | **(3)**<br>**(Col 1-2)**<br>**Change** |
| (3) | Deferred tax liabilities: | Deferred tax liabilities: | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
|  | (a) | Ordinary |  |  |  |
|  |  | (1) Investments | $**162565** | $155101 | $7464 |
|  |  | (2) Fixed assets | **—** |  |  |
|  |  | (3) Deferred and uncollected premium | **6340** | 6725 | (385) |
|  |  | (4) Policyholder reserves | **—** | 547 | (547) |
|  |  | (5) Other (including items <5% of total ordinary tax liabilities) | **1234** | 93932 | (92698) |
|  |  | (99) Subtotal | **170139** | 256305 | (86166) |
|  | (b) | Capital |  |  |  |
|  |  | (1) Investments | **84514** | 67930 | 16584 |
|  |  | (2) Real estate | **—** |  |  |
|  |  | (3) Other | **—** |  |  |
|  |  | (99) Subtotal | **84514** | 67930 | 16584 |
|  | (c) | Deferred tax liabilities (3a99 + 3b99) | $**254653** | $324235 | $(69582) |
| (4) | Net deferred tax assets/liabilities (2i - 3c) | Net deferred tax assets/liabilities (2i - 3c) | $**(29562)** | $(16065) | $(13497) |

---

Among the more significant book-to-tax adjustments were the following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **12/31/2025** | **Effective<br>Tax Rate** | **12/31/2024** | **Effective<br>Tax Rate** | **12/31/2023** | **Effective<br>Tax Rate** |
|  | *(In Thousands)* |  | *(In Thousands)* |  | *(In Thousands)* |  |
| Provision computed at statutory rate | $**37191** | **21.00%** | $79533 | 21.00% | $63345 | 21.00% |
| Dividends received deduction | **(1871)** | **(1.06)** | (1131) | (0.30) | (2781) | (0.93) |
| Tax credits | **(132)** | **(0.07)** | (180) | (0.05) | (195) | (0.06) |
| Other invested assets and nonadmitted change | **(1766)** | **(1.00)** | 1842 | 0.49 | 39127 | 12.97 |
| Affiliated income | **(34650)** | **(19.57)** | (85050) | (22.46) | (57750) | (19.15) |
| Nonadmitted pension asset | **(12198)** | **(6.89)** | (28455) | (7.51) | (34098) | (11.30) |
| Return to provision | **(22769)** | **(12.86)** | (10885) | (2.87) | (37259) | (12.35) |
| Other | **4436** | **2.52** | (834) | (0.23) | (6556) | (2.17) |
| Total statutory income taxes | $**(31759)** | **(17.93)%** | $(45160) | (11.93)% | $(36167) | (11.99)% |
| Federal and foreign taxes incurred | $**(34201)** | **(19.31)%** | $(22408) | (5.92)% | $(47743) | (15.83)% |
| Change in net deferred income taxes | **2442** | **1.38** | (22752) | (6.01) | 11576 | 3.84 |
| Total statutory income taxes | $**(31759)** | **(17.93)%** | $(45160) | (11.93)% | $(36167) | (11.99)% |

---

At December 31, 2025, the Company had $0.0 million of net operating loss carryforwards, net capital loss carryforwards and tax credit carry forwards; the Company had $0.0 million of deferred tax liabilities that are not recognized.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The amount of federal income taxes incurred that will be available for recoupment at December 31, 2025, in the event of future capital losses is $0.0 million, $3.9 million, and $0.0 million from 2025, 2024 and 2023, respectively.

There were no deposits admitted under Section 6603 of the Internal Revenue Service Code as of December 31, 2025 and 2024.

The Company has no unrecognized tax liability as of December 31, 2025 and 2024.

The Company has no tax contingencies for which it is reasonably possible that the total liability will significantly increase within twelve months of the reporting date.

The Company had no accrued interest or penalties related to tax contingencies as of and for the years ended December 31, 2025, 2024 and 2023.

The tax years 2014 through 2017 and 2022 through 2025 remain subject to examination by major tax jurisdictions.

The Inflation Reduction Act was enacted on August 16, 2022, and included a provision for a new Corporate Alternative Minimum Tax (CAMT), effective in 2023, that is based on the adjusted financial statement income set forth on the applicable financial statement of an "applicable corporation." The controlled group of corporations of which the reporting entity is a member has determined that it is not an "applicable corporation" for purposes of CAMT during the reporting period, and is not liable for the CAMT.

The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, which includes changes to the Internal Revenue Code. The OBBBA did not have a significant impact on the Company's financial statements.

**7. Capital and Surplus**

The Company is required by statutory regulations to meet minimum risk-based capital standards. Risk-based capital is a method of measuring the minimum amount of capital appropriate for an insurance company to support its overall business operations in consideration of its size and risk profile. At December 31, 2025 and 2024, the Company exceeded the minimum risk-based capital.

Ohio insurance law limits the amount of dividends that can be paid to a parent in a holding company structure without prior approval of the regulators to the greater of 10% of statutory surplus or statutory net income as of the preceding December 31 less any dividends paid in the preceding 12 months, but only to the extent of earned surplus as of the preceding December 31. Based on these limitations, the Company is able to pay dividends of up to $770.1 million by the end of 2026 without seeking prior regulatory approval based on capital and surplus of $7,700.5 million at December 31, 2025.

The Company currently has the following outstanding surplus notes:

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
|  | *(In Thousands)* | *(In Thousands)* |
| 2019 Notes, 5.15% interest rate, due 2049 | $**498032** | $497946 |
| 2021 Notes, 3.75% interest rate, due 2061 | **497901** | 497842 |
| Total carrying value of surplus notes | $**995933** | $995788 |

---

On January 23, 2019, the Company issued $500.0 million in surplus notes (the "2019 Notes") due January 15, 2049, at a discount of $2.6 million. The entire balance was received in cash, none of which came from related parties. Interest on the 2019 Notes is fixed at 5.15% and payable semiannually on January 15 and July 15 of each year. The 2019 Notes and are administered by The Bank of New York Mellon. Subject to the approval of the Ohio Director of Insurance (the "Director"), the Company has the option to redeem the 2019 Notes (i) in whole within 90 days after the occurrence of a "Tax Event" where the Company receives an opinion of tax counsel that there is a more than insubstantial risk that interest payable on the 2019 Notes is not deductible by the Company, at a redemption price equal to the principal amount of the 2019 Notes to be redeemed (the ''Par Value Redemption Price''), (ii) in whole or in part, on or after January 23, 2024 but prior to July 15, 2048, at a redemption price equal to the greater of (a) the Par Value Redemption Price or (b) the sum of the present value of the remaining scheduled principal and interest payments on the 2019 Notes from the redemption date to July 15, 2048, discounted to the redemption date on a semi-annual basis at an adjusted treasury rate plus 35 basis points or (iii) in whole or in part, on or after July 15, 2048, at the Par Value Redemption Price, plus, in each case of (i), (ii) and (iii), accrued and unpaid interest payments on the 2019 Notes to be redeemed to the redemption date.

On April 28, 2021, the Company issued $500.0 million in surplus notes (the "2021 Notes") due April 28, 2061 at a discount of $2.4 million. The entire balance was received in cash, none of which came from related parties. Interest on the 2021 Notes is fixed at 3.75% and payable semiannually on April 28 and October 28 of each year. The 2021 Notes are administered by The Bank of New York Mellon. Subject to the approval of the Director, the Company has the option to redeem the 2021 Notes (i) in whole within 90 days after the occurrence of a "Tax Event" where the Company receives an opinion of tax counsel that there is a more than insubstantial risk that interest payable on the 2021 Notes is not deductible by the Company, at a redemption price equal to the principal amount of the 2021 Notes to be redeemed (the ''Par Value Redemption Price''), (ii) in whole or in part, prior to October 28, 2060, at a redemption price equal to the greater of (a) the Par Value Redemption Price or (b) the sum of the present value of the remaining scheduled principal and interest payments on the 2021 Notes from the redemption date to October 28, 2060, discounted to the redemption date on a semi-annual basis at an adjusted treasury rate plus 25 basis points or (iii) in whole or in part, on or after October 28, 2060, at the Par Value Redemption Price, plus, in each case of (i), (ii) and (iii), accrued and unpaid interest payments on the 2021 Notes to be redeemed to the redemption date.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The 2019 Notes and 2021 Notes (collectively the "Notes") do not have payments that are contractually linked nor are any of the payments subject to administrative offsetting provisions. Additionally, proceeds from the Notes were not used to purchase an asset directly from the holders. The Notes were issued pursuant to Rule 144A as defined by the Securities Act of 1933. The Notes are unsecured and subordinated to all present and future indebtedness, policy claims and "prior claims" (those claims referred to in classes 1 through 7 of Section 3903.42 of the Ohio Revised Code) against the Company. Under Ohio insurance laws, the Notes are not part of the legal liabilities of the Company. Each payment of principal of, interest on or redemption price with respect to the Notes, may be made only with the prior approval of the Director, and only out of surplus earnings.

Interest expense of $44.5 million and $44.5 million was recognized from the Notes in 2025 and 2024, respectively. Life-to-date interest expense recognized December 31, 2025, was $264.1 million. There has been no principal paid as of December 31, 2025. As of December 31, 2025, there was unapproved interest of $3.2 million related to 2025 that will come due in 2026. In the event the Company was subject to a liquidation event, the Notes would have preference over the common shareholders. No affiliates of the Company hold any of the Notes. As of the closing, Guggenheim Partners was the only holder of more than 10% of the outstanding Notes on record at the Depository Trust Company.

**8. Commitments and Contingencies**

The Company is named as a defendant in various legal actions arising principally from claims made under insurance policies and contracts. The Company believes the resolution of these actions will not have a material effect on the Company's financial position or results of operations.

At December 31, 2025, the Company does not have any material lease agreements as a lessee for office space or equipment.

At December 31, 2025, the Company has future commitments to provide additional capital contributions of $474.5 million to investments in joint ventures, limited partnerships and limited liability companies.

The Company guarantees the payment of all policyholder obligations of each of the following wholly-owned subsidiaries: WSLAC, Columbus Life and Integrity. In addition, the Company guarantees all policyholder obligations of National and Lafayette Life, an affiliated entity which is wholly-owned by WSFG. Guarantees on behalf of wholly-owned subsidiaries or on behalf of related parties that are considered to be unlimited (as in the case of the guarantee on behalf of Lafayette Life) are exempt from the initial liability recognition criteria and therefore no liability has been recognized in the financial statements. Due to the unlimited nature of the guarantees, the Company is unable to estimate the maximum potential amount of future payments under the guarantees. In the unlikely event the guarantees would be triggered, the Company may be permitted to take control of the underlying assets to recover all or a portion of the amounts paid under the guarantees.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**9. Life and Annuity Reserves and Deposit-Type Contract Liabilities**

At December 31, 2025, the Company's general and separate account annuity reserves and deposit-type contract liabilities that are subject to discretionary withdrawal (with adjustment), subject to discretionary withdrawal (without adjustment), and not subject to discretionary withdrawal provisions are summarized as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Individual Annuities | **General Account** | **Separate Account With Guarantees** | **Separate Account Non-guaranteed** | **Total** | **Percent** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |  |
| Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment) | $45098 | $— | $— | $45098 | 95.1% |
| Not subject to discretionary withdrawal | 2309 |  |  | 2309 | 4.9 |
| Total individual annuity reserves (before reinsurance) | 47407 |  |  | 47407 | 100.0% |
| Reinsurance ceded | 44437 |  |  | 44437 |  |
| Net individual annuity reserves | $2970 | $— | $— | $2970 |  |
| Group Annuities | **General Account** | **Separate Account<br>With Guarantees** | **Separate Account<br>Non-guaranteed** | **Total** | **Percent** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |  |
| Not subject to discretionary withdrawal | $1807 | $— | $1310659 | $1312466 | 100.0% |
| Total group annuity reserves (before reinsurance) | 1807 |  | 1310659 | 1312466 | 100.0% |
| Reinsurance ceded | 1807 |  |  | 1807 |  |
| Net group annuity reserves | $— | $— | $1310659 | $1310659 |  |
| Deposit-type contracts (no life contingencies) | **General Account** | **Separate Account<br>With Guarantees** | **Separate Account<br>Non-guaranteed** | **Total** | **Percent** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |  |
| Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment) | $172633 | $— | $— | $172633 | 98.5% |
| Not subject to discretionary withdrawal | 2715 |  |  | 2715 | 1.5 |
| Total deposit-type contract liability (before reinsurance) | 175348 |  |  | 175348 | 100.0% |
| Reinsurance ceded | 17868 |  |  | 17868 |  |
| Total deposit-type contract liability | $157480 | $— | $— | $157480 |  |

---

Interest rate changes may have temporary effects on the sale and profitability of annuity products offered by the Company. Although the rates offered by the Company are adjustable in the long-term, in the short-term they may be subject to contractual and competitive restrictions, which may prevent timely

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

adjustment. The Company's management constantly monitors interest rates with respect to a spectrum of product durations and sells annuities that permit flexible responses to interest rate changes as part of the Company's management of interest spreads. However, adverse changes in investment yields on invested assets will affect the earnings on those products with a guaranteed return.

At December 31, 2025, the Company's general and separate account life insurance account values, cash value, and reserves for policies subject to discretionary withdrawal, not subject to discretionary withdrawal, or with no cash value are summarized as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **General Account** | **General Account** | **General Account** | **Separate Account - Guaranteed and Nonguaranteed** | **Separate Account - Guaranteed and Nonguaranteed** | **Separate Account - Guaranteed and Nonguaranteed** |
| | **Account Value** | **Cash Value** | **Reserve** | **Account Value** | **Cash Value** | **Reserve** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Subject to discretionary withdrawal, surrender values, or policy loans: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Term policies with cash value | $— | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;Universal life |  |  |  |  |  |  |
| &nbsp;&nbsp;Universal life with secondary guarantees |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Indexed universal life |  |  |  |  |  |  |
| &nbsp;&nbsp;Indexed universal life with secondary guarantees |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Indexed life |  |  |  |  |  |  |
| &nbsp;&nbsp;Other permanent cash value life insurance |  | 2832802 | 3160052 |  |  |  |
| &nbsp;&nbsp;&nbsp;Variable life |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Variable universal life |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Miscellaneous reserves |  |  |  |  |  |  |
| Not subject to discretionary withdrawal or no cash values: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Term policies without cash value | XXX | XXX |  | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;Accidental death benefits | XXX | XXX | 3588 | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;Disability - active lives | XXX | XXX | 3485 | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;Disability - disabled lives | XXX | XXX | 15898 | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;Miscellaneous reserves | XXX | XXX |  | XXX | XXX |  |
| Total life reserves (before reinsurance) |  | 2832802 | 3183023 |  |  |  |
| Reinsurance Ceded |  |  | 315607 |  |  |  |
| Net life reserves | $— | $2832802 | $2867416 | $— | $— | $— |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**10. Employee Retirement Benefits**

The Company has a noncontributory pension plan under a deposit administration group annuity contract covering substantially all employees and field representatives that meet eligibility requirements while working for the Company and attaining normal retirement age. In addition, the Company provides certain health care and life insurance benefits for certain retired employees or their beneficiaries. Substantially all of the Company's employees and field representatives may become eligible for those benefits when they reach normal retirement age while working for the Company.

The Company uses a December 31 measurement date for all plans.

A summary of assets, obligations and assumptions of the pension and other postretirement benefit plans at December 31, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Pension Benefits** | **Pension Benefits** | **Postretirement Medical** | **Postretirement Medical** |
| | **2025** | **2024** | **2025** | **2024** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Change in benefit obligation: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Benefit obligation at beginning of year | $**833406** | $874864 | $**77255** | $93059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service cost | **19554** | 22812 | **24** | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest cost | **44913** | 42679 | **3839** | 3848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contribution by plan participants | **—** |  | **4250** | 4611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Actuarial (gain) loss | **32804** | (55528) | **(1812)** | (12496) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefits paid | **(52034)** | (51421) | **(9935)** | (11813) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plan amendments | **—** |  | **—** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Settlements | **—** |  | **—** |  |
| &nbsp;&nbsp;&nbsp;Benefit obligation at end of year | $**878643** | $833406 | $**73621** | $77255 |
| Change in plan assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fair value of plan assets at beginning of year | $**1207335** | $1113295 | $**—** | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Actual return on plan assets | **155358** | 145461 | **—** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employer contribution | **—** |  | **5685** | 7202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plan participants' contributions | **—** |  | **4250** | 4611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefits paid | **(52034)** | (51421) | **(9935)** | (11813) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Settlements | **—** |  | **—** |  |
| &nbsp;&nbsp;&nbsp;Fair value of plan assets at end of year | $**1310659** | $1207335 | $**—** | $— |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Pension Benefits** | **Pension Benefits** | **Postretirement Medical** | **Postretirement Medical** |
| | **2025** | **2024** | **2025** | **2024** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Funded status: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overfunded (underfunded) obligation | $**432016** | $373929 | $**(73621)** | $(77255) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrecognized net (gain) or loss | **—** |  | **—** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrecognized prior service cost | **—** |  | **—** |  |
| Net amount recognized\* | $**432016** | $373929 | $**(73621)** | $(77255) |
| Accumulated benefit obligation for vested employees and partially vested employees to the extent vested | $**814976** | $767401 | $**73621** | $77255 |

---

\*Nonadmitted if overfunded

---

| | | | |
|:---|:---|:---|:---|
| | **Pension Benefits** | **Pension Benefits** | **Pension Benefits** |
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Components of net periodic benefit cost: |  |  |  |
| &nbsp;&nbsp;&nbsp;Service cost | $**19554** | $22812 | $20373 |
| &nbsp;&nbsp;&nbsp;Interest cost | **44913** | 42679 | 45899 |
| &nbsp;&nbsp;&nbsp;Expected return on plan assets | **(88555)** | (81521) | (75560) |
| &nbsp;&nbsp;&nbsp;Amount of recognized gains and losses | **—** |  | 4173 |
| &nbsp;&nbsp;&nbsp;Amount of prior service cost recognized | **531** | 531 | 531 |
| Total net periodic benefit cost (benefit) | $**(23557)** | $(15499) | $(4584) |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Postretirement Medical** | **Postretirement Medical** | **Postretirement Medical** |
| | **2025** | **2024** | **2023** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Components of net periodic benefit cost: |  |  |  |
| &nbsp;&nbsp;&nbsp;Service cost | $**24** | $46 | $79 |
| &nbsp;&nbsp;&nbsp;Interest cost | **3839** | 3848 | 4719 |
| &nbsp;&nbsp;&nbsp;Amount of recognized gains and losses | **(4523)** | (13196) | (11306) |
| &nbsp;&nbsp;&nbsp;Amount of prior service cost recognized | **—** |  |  |
| Total net periodic benefit cost (benefit) | $**(660)** | $(9302) | $(6508) |

---

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Pension Benefits** | **Pension Benefits** | **Postretirement Medical** | **Postretirement Medical** |
| | **2025** | **2024** | **2025** | **2024** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| Amounts in unassigned funds (surplus) recognized as components of net periodic benefit cost: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Items not yet recognized as a component of net periodic cost - prior year | $**(18022)** | $101977 | $**(61893)** | $(62593) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transition asset or obligation recognized | **—** |  | **—** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net prior service cost or credit arising during the period | **—** |  | **—** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net prior service cost or credit recognized | **(531)** | (531) | **—** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain and loss arising during the period | **(33999)** | (119468) | **(1812)** | (12495) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain and loss recognized | **—** |  | **4522** | 13195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Items not yet recognized as a component of net periodic cost - current year | $**(52552)** | $(18022) | $**(59183)** | $(61893) |

---

Assumptions used to determine net periodic benefit cost for the year ended December 31:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Pension Benefits** | **Pension Benefits** | **Postretirement Medical** | **Postretirement Medical** |
| | **2025** | **2024** | **2025** | **2024** |
| Discount rate | **5.73%** | 5.13% | **5.62%** | 5.07% |
| Rate of compensation increase | **4.60%** | 4.60% | **N/A** | N/A |
| Expected long-term rate of return on plan assets | **7.50%** | 7.50% | **N/A** | N/A |

---

Assumptions used to determine the benefit obligation at December 31:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Pension Benefits** | **Pension Benefits** | **Postretirement Medical** | **Postretirement Medical** |
| | **2025** | **2024** | **2025** | **2024** |
| Discount rate | **5.64%** | 5.72% | **5.39%** | 5.62% |
| Rate of compensation increase | **4.60%** | 4.60% | **N/A** | N/A |

---

The Company's non-admitted pension asset was $432.0 million and $373.9 million at December 31, 2025 and 2024, respectively.

The Company utilizes a full yield curve approach in the estimation of liabilities, service cost, and interest cost for pension and postretirement benefits by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. The yield curve utilized in the cash flow analysis is comprised of highly rated (Aaa or Aa) corporate bonds. The discount rate was decreased from 5.72% at December 31, 2024, to 5.64% at December 31, 2025. This resulted in a $12.7 million increase in the pension benefit obligation in 2025. The discount rate was increased from 5.13% at

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

December 31, 2023, to 5.72% at December 31, 2024. This resulted in a $57.1 million decrease in the pension benefit obligation in 2024.

The Company's mortality assumption for plan participants, including future mortality improvements, is generally derived from tables published by the Society of Actuaries (SOA). As of December 31, 2025, the mortality assumptions for active and retired participants were updated to the SOA white collar tables. The change to the mortality assumption resulted in a $21.7 million increase in the pension benefit obligation in 2025.

The Company employs a prospective building block approach in determining the long-term expected rate of return for plan assets. Historical returns are determined by asset class. The historical relationships between equities, fixed income securities, and other assets are reviewed. The Company applies long-term asset return estimates to the plan's target asset allocation to determine the weighted-average long-term return. The Company's long-term asset allocation was determined through modeling long-term returns and asset return volatilities and is guided by an investment policy statement created for the plan.

The asset allocation for the defined benefit pension plan at the end of 2025 and 2024, and the target allocation for 2025 by asset category, are as follows:

---

| | | | |
|:---|:---|:---|:---|
| | **Target Allocation Percentage** | **Percentage of<br>Plan Assets** | **Percentage of<br>Plan Assets** |
| | **2025** | **2025** | **2024** |
| Asset category: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity securities | **60%** | 65% | 65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed income securities | **13** | 16 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | **2** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | **25** | 19 | 19 |
| Total | **100%** | 100% | 100% |

---

The plan employs a total return investment approach whereby a mix of fixed income and equity investments are used to maximize the long-term return of plan assets for a prudent level of risk. Risk tolerance is established through careful consideration of plan liabilities, plan funded status, and corporate financial condition. The total portfolio is structured with multiple sub-portfolios, each with a specific fixed income or equity asset management discipline. Each sub-portfolio is subject to individual limitations and performance benchmarks as well as limitations at the consolidated portfolio level. Quarterly asset allocation meetings are held to evaluate portfolio asset allocations and to establish the optimal mix of assets given current market conditions and risk tolerance. Investment mix is measured and monitored on an ongoing basis through regular investment reviews, annual liability measurements, and periodic asset/liability studies.

The Company's pension plan assets consist primarily of debt and equity securities, mutual funds and private equity funds, all of which are carried at fair value.

Fair value is defined as the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date (an exit price). The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities. The Company's Level 1 assets primarily include exchange-traded equity securities and mutual funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. The Company's Level 2 assets include certain debt securities for which public price quotations are not available, but that use other market observable inputs from third-party pricing service quotes or internal valuation models using observable inputs. Level 2 assets also include private funds that invest primarily in domestic debt securities where the Company has the right to redeem its interest at net asset values. The underlying debt securities within these funds employ similar valuation methodologies as the Company's other investments in debt securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - Significant unobservable inputs for the asset or liability. The Company's Level 3 assets primarily include private real estate funds.

*Debt Securities*

The fair values of actively traded debt securities have been determined through the use of third-party pricing services utilizing market observable inputs.

*Equity Securities*

The fair values of actively traded equity securities have been determined utilizing publicly quoted prices from third-party pricing services.

*Mutual Funds*

The fair values of mutual funds have been determined utilizing the net asset values of the funds.

*Private Equity and Fixed Income Funds*

The fair values of private equity and fixed income funds have been determined utilizing the net asset values of the funds. The fair values of the private real estate funds have been determined by utilizing significant unobservable inputs.

*Other Assets*

Other assets primarily include securities lending reinvested collateral and cash equivalents. The fair value of securities lending reinvested collateral assets are from third-party sources utilizing publicly quoted prices. The fair value of the cash equivalents are based on quoted market prices.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

The fair value of the pension plan's assets by asset category is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Assets Measured at Fair Value** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** |
| | **Assets Measured at Fair Value** | **Level 1** | **Level 2\*** | **Level 3** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2025: |  |  |  |  |
| &nbsp;&nbsp;Debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuer credit obligations | $**186120** | $**32723** | $**152011** | $**1386** |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | **11550** | **—** | **11550** | **—** |
| &nbsp;&nbsp;Equity securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common equity | **686357** | **637280** | **49077** | **—** |
| &nbsp;&nbsp;&nbsp;&nbsp;Mutual funds | **163056** | **163056** | **—** | **—** |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | **—** | **—** | **—** | **—** |
| &nbsp;&nbsp;Other invested assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Private equity and fixed income funds | **192785** | **—** | **192785** | **—** |
| &nbsp;&nbsp;&nbsp;&nbsp;Surplus notes | **9107** | **—** | **9107** | **—** |
| &nbsp;&nbsp;&nbsp;&nbsp;Real estate | **50700** | **—** | **—** | **50700** |
| &nbsp;&nbsp;Other assets | **29389** | **26889** | **2500** | **—** |
| Total plan assets | $**1329064** | $**859948** | $**417030** | $**52086** |

---

\* Includes investments using net asset value (NAV) as a practical expedient.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Assets Measured at Fair Value** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** | **Fair Value Hierarchy Level** |
| | **Assets Measured at Fair Value** | **Level 1** | **Level 2\*** | **Level 3** |
|  | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* | *(In Thousands)* |
| At December 31, 2024: |  |  |  |  |
| &nbsp;&nbsp;Debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities issued by states of the U.S. and political subdivisions of the states | $2009 | $— | $2009 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate securities | 174250 | 32036 | 140985 | 1229 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage-backed securities | 605 |  | 605 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | 11052 |  | 11052 |  |
| &nbsp;&nbsp;Equity securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common equity | 647297 | 601818 | 45479 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mutual funds | 133849 | 133849 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | 605 |  | 605 |  |
| &nbsp;&nbsp;Other invested assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Private equity and fixed income funds | 179062 |  | 179062 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Surplus notes | 4771 |  | 4771 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Real estate | 38090 |  |  | 38090 |
| &nbsp;&nbsp;Other assets | 22938 | 20288 | 2650 |  |
| Total plan assets | $1214528 | $787991 | $387218 | $39319 |

---

\* Includes investments using net asset value (NAV) as a practical expedient.

For measurement purposes of the postretirement benefit obligation at December 31, 2025, a 5.275% annual rate of increase in the per capita cost of covered health care benefits is assumed for 2026. The rate was assumed to decrease gradually to 4.75% for 2033 and remain at that level thereafter.

At December 31, 2025, the assets of the Company's pension include approximately $51.7 million invested in the Touchstone Family of Funds, which are administered by the Company, and $221.6 million invested in private equity and fixed income funds managed by Fort Washington Investment Advisors, Inc. At December 31, 2024, the assets of the Company's pension include approximately $97.4 million invested in the Touchstone Family of Funds, which are administered by the Company, $205.2 million invested in private equity and fixed income funds managed by Fort Washington Investment Advisors, Inc.

------

The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

As of December 31, 2025, future benefit payments for the pension plan are expected as follows (in millions):

---

| | |
|:---|:---|
| 2026 | $55.2 |
| 2027 | 56.3 |
| 2028 | 57.4 |
| 2029 | 58.4 |
| 2030 | 59.4 |
| Five years thereafter | 310.1 |

---

Future benefit payments for the postretirement medical plan, net of amounts contributed by plan participants, are expected as follows (in millions):

---

| | |
|:---|:---|
| 2026 | $6.8 |
| 2027 | 6.5 |
| 2028 | 6.2 |
| 2029 | 6.1 |
| 2030 | 6.0 |
| Five years thereafter | 27.1 |

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The Company did not make any contributions to the pension plan in 2025 and 2024. The Company does not expect to make contributions to the pension plan during 2026.

The Company made contributions to the postretirement medical plan of $5.7 million in 2025 and expects to contribute $58.7 million between 2026 and 2035, inclusive. The Company received no subsidies in 2025. The Company's postretirement medical plan did not collect the Medicare Part D Subsidy for claims activity occurring after January 1, 2013.

The Company sponsors a contributory employee retirement savings plan covering substantially all eligible, full-time employees. This plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). The Company's contributions to the plan are based on a combination of the employee's contributions to the plan and a percentage of the employee's earnings for the year. The total of the Company's contributions to the defined contribution plan were $6.3 million, $5.9 million, and $5.7 million for 2025, 2024 and 2023, respectively.

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The Western and Southern Life Insurance Company

Notes to Financial Statements (Statutory-Basis)

December 31, 2025, 2024 and 2023

**11. Premium and Annuity Considerations Deferred and Uncollected**

Deferred and uncollected life insurance premiums and annuity considerations at December 31, 2025, were as follows:

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| | | |
|:---|:---|:---|
| | **Gross** | **Net of Loading** |
|  | *(In Thousands)* | *(In Thousands)* |
| Ordinary new business | $3088 | $253 |
| Ordinary renewal | 60881 | 44573 |
| Accident and health renewal | 307 | 269 |
| Assumed investment type-contracts | 457 | 457 |
| Total | $64733 | $45552 |

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