# EDGAR Filing Document

**Accession Number:** 0000771726
**File Stem:** 0001193125-26-149764
**Filing Date:** 2026-4
**Character Count:** 431258
**Document Hash:** 20ed5ac702592f2eb9542cbcc288fb4d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-149764.hdr.sgml**: 20260409

**ACCESSION NUMBER**: 0001193125-26-149764

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260409

**DATE AS OF CHANGE**: 20260409

**EFFECTIVENESS DATE**: 20260409

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEPARATE ACCOUNT FP
- **CENTRAL INDEX KEY:** 0000771726

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

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04335
- **FILM NUMBER:** 26852134

**BUSINESS ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** 2126418357

**MAIL ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT FP OF EQUITABLE FINANCIAL LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20200616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT FP OF AXA EQUITABLE LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20050822

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT FP OF EQUITABLE LIFE ASSUR SOC OF THE US
- **DATE OF NAME CHANGE:** 19970127

## Series and Classes Contracts Data

### SEPARATE ACCOUNT FP (Series ID: S000009064)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000024618 | Incentive Life                         |  |
| C000024619 | Accumulator Life                       |  |
| C000024620 | Paramount Life                         |  |
| C000024621 | Incentive Life (1999)                  |  |
| C000024622 | Incentive Life (2002)                  |  |
| C000024623 | Incentive Life (2006)                  |  |
| C000024626 | Survivorship Incentive Life (1999)     |  |
| C000024627 | Survivorship Incentive Life            |  |
| C000024628 | Survivorship Incentive Life (2002)     |  |
| C000031978 | Il Protector                           |  |
| C000031979 | Incentive Life Plus                    |  |
| C000031981 | Survivorship 2000                      |  |
| C000031982 | Incentive Life 2000                    |  |
| C000031983 | Champion 2000                          |  |
| C000033361 | IL COLI (2006)                         |  |
| C000033362 | IL COLI '04 (2006)                     |  |
| C000034998 | IL LEGACY                              |  |
| C000066715 | Incentive Life Optimizer               |  |
| C000066716 | Survivorship Incentive Life Legacy     |  |
| C000070908 | Corporate Owned Incentive Life         |  |
| C000078948 | Incentive Life Legacy II (AXA)         |  |
| C000089893 | Incentive Life Optimizer II            |  |
| C000149939 | IncentiveLife Legacy III               |  |
| C000163017 | IncentiveLife Optimizer III            |  |
| C000210880 | VUL Legacy                             |  |
| C000210882 | VUL Optimizer                          |  |
| C000214538 | COIL Institutional Series              |  |
| C000214685 | VUL Survivorship Series                |  |
| C000229053 | Equitable Advantage                    |  |
| C000230719 | COIL Institutional Series (Series 162) |  |
| C000243977 | VUL Incentive Life Protect             |  |
| C000254792 | VUL Optimizer (Series 166)             |  |

**SEPARATE ACCOUNT FP** 

INDEX TO FINANCIAL STATEMENTS

---

| | |
|:---|:---|
|  [Report of Independent Registered Public Accounting Firm](#fin90668_1) | FSA-2 |
| Financial Statements: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Statements of Assets and Liabilities, December 31, 2025](#fin90668_2) | FSA-4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Statements of Operations for the Year Ended December 31, 2025](#fin90668_3) | FSA-43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Statements of Changes in Net Assets for the Years or Periods Ended December 31, 2025 and 2024](#fin90668_4) | FSA-62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Notes to Financial Statements](#fin90668_5) | FSA-105 |

---

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Directors of Equitable Financial Life Insurance Company and the Contractowners of Separate Account FP

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities of each of the variable investment options of Separate Account FP indicated in the table below as of December 31, 2025, and the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including 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 of the variable investment options of Separate Account FP as of December 31, 2025, and the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;1290 VT CONVERTIBLE SECURITIES<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT DOUBLELINE OPPORTUNISTIC BOND<sup>(1)</sup> EQ/LONG-TERM BOND<sup>(2)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT EQUITY INCOME<sup>(1)</sup> EQ/LOOMIS SAYLES GROWTH<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT GAMCO MERGERS & ACQUISITIONS<sup>(1)</sup> EQ/MFS INTERNATIONAL GROWTH<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT GAMCO SMALL COMPANY VALUE<sup>(1)</sup> EQ/MFS INTERNATIONAL INTRINSIC VALUE<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT MULTI-ALTERNATIVE STRATEGIES<sup>(1)</sup> EQ/MFS MID CAP FOCUSED GROWTH<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT NATURAL RESOURCES<sup>(1)</sup> EQ/MFS TECHNOLOGY<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT REAL ESTATE<sup>(1)</sup> EQ/MFS UTILITIES SERIES<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT SMALL CAP VALUE<sup>(1)</sup> EQ/MID CAP INDEX<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT SMARTBETA EQUITY ESG<sup>(1)</sup> EQ/MID CAP VALUE MANAGED VOLATILITY<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT SOCIALLY RESPONSIBLE<sup>(1)</sup> EQ/MODERATE ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AB VPS DISCOVERY VALUE PORTFOLIO<sup>(1)</sup> EQ/MODERATE GROWTH STRATEGY<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> ASSET ALLOCATION FUND<sup>(1)</sup> EQ/MODERATE-PLUS ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND<sup>(1)</sup> EQ/MONEY MARKET<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup><sup>(1)</sup> EQ/MORGAN STANLEY SMALL CAP GROWTH<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;BLACKROCK GLOBAL ALLOCATION V.I. FUND<sup>(1)</sup> EQ/PIMCO GLOBAL REAL RETURN<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/400 MANAGED VOLATILITY<sup>(1)</sup> EQ/PIMCO REAL RETURN<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/500 MANAGED VOLATILITY<sup>(1)</sup> EQ/PIMCO TOTAL RETURN ESG<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/2000 MANAGED VOLATILITY<sup>(1)</sup> EQ/PIMCO ULTRA SHORT BOND<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/AB SMALL CAP GROWTH<sup>(1)</sup> EQ/QUALITY BOND PLUS<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/AGGRESSIVE ALLOCATION<sup>(1)</sup> EQ/SMALL COMPANY INDEX<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/ALL ASSET GROWTH ALLOCATION<sup>(1)</sup> EQ/T. ROWE PRICE HEALTH SCIENCES<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/AMERICAN CENTURY MID CAP VALUE<sup>(1)</sup> EQ/VALUE EQUITY<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/BALANCED STRATEGY<sup>(1)</sup> EQ/WELLINGTON ENERGY<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CAPITAL GROUP RESEARCH<sup>(1)</sup> EQUITABLE CONSERVATIVE GROWTH MF/ETF<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CLEARBRIDGE LARGE CAP GROWTH ESG<sup>(1)</sup> EQUITABLE GROWTH MF/ETF<sup>(2)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/COMMON STOCK INDEX<sup>(1)</sup> EQUITABLE MODERATE GROWTH MF/ETF<sup>(2)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CONSERVATIVE ALLOCATION<sup>(1)</sup> FIDELITY<sup>®</sup> VIP ASSET MANAGER 70%<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CONSERVATIVE GROWTH STRATEGY<sup>(1)</sup> FIDELITY<sup>®</sup> VIP EQUITY-INCOME PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CONSERVATIVE STRATEGY<sup>(1)</sup> FIDELITY<sup>®</sup> VIP GOVERNMENT MONEY MARKET PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CONSERVATIVE-PLUS ALLOCATION<sup>(1)</sup> FIDELITY<sup>®</sup> VIP HIGH INCOME PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CORE BOND INDEX<sup>(1)</sup> FIDELITY<sup>®</sup> VIP INVESTMENT GRADE BOND PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CORE PLUS BOND<sup>(1)</sup> FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/EMERGING MARKETS EQUITY PLUS<sup>(1)</sup> FIDELITY<sup>®</sup> VIP VALUE PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/EQUITY 500 INDEX<sup>(1)</sup> FIDELITY<sup>®</sup> VIP VALUE STRATEGIES PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/FIDELITY INSTITUTIONAL AM<sup>®</sup> LARGE CAP<sup>(1)</sup> FRANKLIN SMALL CAP VALUE VIP FUND<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/FRANKLIN RISING DIVIDENDS<sup>(1)</sup> INVESCO V.I. DIVERSIFIED DIVIDEND FUND<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/GLOBAL EQUITY MANAGED VOLATILITY<sup>(1)</sup> JANUS HENDERSON BALANCED PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/GOLDMAN SACHS MID CAP VALUE<sup>(1)</sup> LORD ABBETT SERIES FUND — BOND DEBENTURE PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/GROWTH STRATEGY<sup>(1)</sup> MFS<sup>®</sup> MASSACHUSETTS INVESTORS GROWTH STOCK PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/INTERMEDIATE CORPORATE BOND<sup>(2)</sup> MULTIMANAGER AGGRESSIVE EQUITY<sup>(1)</sup> |

---

------

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;EQ/INTERMEDIATE GOVERNMENT BOND<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/INTERNATIONAL CORE MANAGED VOLATILITY<sup>(1)</sup> MULTIMANAGER TECHNOLOGY<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/INTERNATIONAL EQUITY INDEX<sup>(1)</sup> NOMURA VIP HIGH INCOME SERIES<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/INTERNATIONAL MANAGED VOLATILITY<sup>(1)</sup> PIMCO COMMODITYREAL RETURN<sup>®</sup> STRATEGY PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/INTERNATIONAL VALUE MANAGED VOLATILITY<sup>(1)</sup> T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/INVESCO COMSTOCK<sup>(1)</sup> T. ROWE PRICE EQUITY INCOME PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/INVESCO GLOBAL<sup>(1)</sup> T. ROWE PRICE MID-CAP GROWTH PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/INVESCO GLOBAL REAL ASSETS<sup>(1)</sup> TARGET 2015 ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/JANUS ENTERPRISE<sup>(1)</sup> TARGET 2025 ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/JPMORGAN GROWTH STOCK<sup>(1)</sup> TARGET 2035 ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/JPMORGAN VALUE OPPORTUNITIES<sup>(1)</sup> TARGET 2045 ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/LARGE CAP CORE MANAGED VOLATILITY<sup>(1)</sup> TARGET 2055 ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/LARGE CAP GROWTH INDEX<sup>(1)</sup> TEMPLETON DEVELOPING MARKETS VIP FUND<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/LARGE CAP GROWTH MANAGED VOLATILITY<sup>(1)</sup> TEMPLETON GLOBAL BOND VIP FUND<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/LARGE CAP VALUE INDEX<sup>(1)</sup> VANECK VIP GLOBAL RESOURCES FUND<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/LARGE CAP VALUE MANAGED VOLATILITY<sup>(1)</sup> VANGUARD VARIABLE INSURANCE FUND EQUITY INDEX PORTFOLIO<sup>(1)</sup> |

---

(1) Statement of operations for the year ended December 31, 2025, and statement of changes in net assets for the years ended December 31, 2025 and 2024.

(2) Statement of operations for the year ended December 31, 2025, and statement of changes in net assets for the year ended December 31, 2025 and the period May 13, 2024 (commencement of operations) through
December 31, 2024.

***Basis for Opinions***

These financial statements are the responsibility of the Equitable Financial Life Insurance Company management. Our responsibility is to express an opinion on the financial statements of each of the variable investment options of Separate Account FP 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 each of the variable investment options of Separate Account FP in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements 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 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. Our procedures included confirmation of investments owned as of December 31, 2025 by correspondence with the transfer agents of the investee mutual funds. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

New York, New York

April 9, 2026

We have served as the auditor of one or more of the variable investment options of Separate Account FP since 1993.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 VT<br>CONVERTIBLE<br>SECURITIES\*** | **1290 VT<br>DOUBLELINE<br>OPPORTUNISTIC<br>BOND\*** | **1290 VT EQUITY<br>INCOME\*** | **1290 VT GAMCO<br>MERGERS &<br>ACQUISITIONS\*** | **1290 VT GAMCO<br>SMALL COMPANY<br>VALUE\*** | **1290 VT MULTI-<br>ALTERNATIVE<br>STRATEGIES\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $10833764 | $16868467 | $27726460 | $21344874 | $306777198 | $910620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold |  |  |  | 21150 | 62682 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions |  | 9342 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 10833764 | 16877809 | 27726460 | 21366024 | 306839880 | 910620 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased | 468 | 10478 | 3716 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions | 1851 |  | 489 | 20949 | 80685 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 2319 | 10478 | 4205 | 20949 | 80685 |  |
|  **Net Assets** | $10831445 | $16867331 | $27722255 | $21345075 | $306759195 | $910620 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $10831445 | $16867331 | $27722255 | $21345075 | $306699256 | $909293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  |  |  |  | 59939 | 1327 |
|  **Total Net Assets** | $10831445 | $16867331 | $27722255 | $21345075 | $306759195 | $910620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $9544774 | $16987448 | $27064454 | $19648425 | $265214510 | $842853 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 VT NATURAL<br>RESOURCES\*** | **1290 VT REAL<br>ESTATE\*** | **1290 VT SMALL**<br>**CAP VALUE\*** | **1290 VT**<br>**SMARTBETA**<br>**EQUITY ESG\*** | **1290 VT SOCIALLY<br>RESPONSIBLE\*** | **AB VPS**<br>**DISCOVERY**<br>**VALUE**<br>**PORTFOLIO\*\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $2739475 | $2998364 | $47574951 | $23261395 | $8411223 | $215758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold |  |  |  | 19905 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions | 4781 | 81294 | 15561 |  |  | 92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 2744256 | 3079658 | 47590512 | 23281300 | 8411223 | 215850 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased | 1481 | 80897 | 2637 |  | 47 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions |  |  |  | 20876 | 51405 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 1481 | 80897 | 2637 | 20876 | 51452 |  |
|  **Net Assets** | $2742775 | $2998761 | $47587875 | $23260424 | $8359771 | $215850 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $2737105 | $2998761 | $47378360 | $23260424 | $7944917 | $215850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP | 5670 |  | 209515 |  | 414854 |  |
|  **Total Net Assets** | $2742775 | $2998761 | $47587875 | $23260424 | $8359771 | $215850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $2476370 | $2842042 | $46968527 | $20688069 | $6734652 | $226476 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of AB Variable Product Series Fund, Inc., an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AMERICAN FUNDS**<br>**INSURANCE SERIES<sup>®</sup><br>ASSET ALLOCATION<br>FUND** | **AMERICAN FUNDS<br>INSURANCE SERIES<sup>®</sup><br>GLOBAL SMALL<br>CAPITALIZATION<br>FUND** | **AMERICAN FUNDS<br>INSURANCE SERIES<sup>®</sup><br>NEW WORLD FUND<sup>®</sup>** | **BLACKROCK GLOBAL<br>ALLOCATION V.I.<br>FUND** | **EQ/400 MANAGED<br>VOLATILITY\*** | **EQ/500 MANAGED<br>VOLATILITY\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $11695036 | $24097458 | $66525099 | $10248870 | $6677699 | $33587523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold |  |  |  | 63957 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions | 4165 | 2715 | 54536 |  | 298 | 27230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 11699201 | 24100173 | 66579635 | 10312827 | 6677997 | 33614753 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased |  | 1541 | 42463 |  | 233 | 27230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions |  |  |  | 64410 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities |  | 1541 | 42463 | 64410 | 233 | 27230 |
|  **Net Assets** | $11699201 | $24098632 | $66537172 | $10248417 | $6677764 | $33587523 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $11699201 | $24098632 | $66529140 | $10248417 | $6677764 | $33587278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  |  | 8032 |  |  | 245 |
|  **Total Net Assets** | $11699201 | $24098632 | $66537172 | $10248417 | $6677764 | $33587523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $10666572 | $23813012 | $55404924 | $10396441 | $7037920 | $32779293 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/2000 MANAGED<br>VOLATILITY\*** | **EQ/AB SMALL CAP<br>GROWTH\*** | **EQ/AGGRESSIVE<br>ALLOCATION\*** | **EQ/ALL ASSET<br>GROWTH<br>ALLOCATION\*** | **EQ/AMERICAN<br>CENTURY MID CAP<br>VALUE\*** | **EQ/BALANCED<br>STRATEGY\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $8353456 | $259862224 | $205435228 | $49603930 | $108376143 | $50780335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold | 21 | 222049 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions | 26 |  | 32402 |  | 63427 | 4459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 8353503 | 260084273 | 205467630 | 49603930 | 108439570 | 50784794 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased |  |  | 30814 | 583 | 43885 | 4848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions |  | 224474 |  | 24150 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities |  | 224474 | 30814 | 24733 | 43885 | 4848 |
|  **Net Assets** | $8353503 | $259859799 | $205436816 | $49579197 | $108395685 | $50779946 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $8353503 | $259850222 | $205419908 | $49531309 | $108019267 | $50724027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  | 9577 | 16908 | 47888 | 376418 | 55919 |
|  **Total Net Assets** | $8353503 | $259859799 | $205436816 | $49579197 | $108395685 | $50779946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $8359606 | $277010145 | $207648095 | $47708671 | $111256422 | $50181468 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/CAPITAL GROUP<br>RESEARCH\*** | **EQ/CLEARBRIDGE<br>LARGE CAP<br>GROWTH ESG\*** | **EQ/COMMON<br>STOCK INDEX\*** | **EQ/CONSERVATIVE<br>ALLOCATION\*** | **EQ/CONSERVATIVE<br>GROWTH<br>STRATEGY\*** | **EQ/CONSERVATIVE<br>STRATEGY\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $209571560 | $138839788 | $2622332282 | $18413521 | $9318930 | $3037157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold | 257250 | 991 | 482507 | 27867 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 209828810 | 138840779 | 2622814789 | 18441388 | 9318930 | 3037157 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions | 813504 | 27216 | 638046 | 28095 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 813504 | 27216 | 638046 | 28095 |  |  |
|  **Net Assets** | $209015306 | $138813563 | $2622176743 | $18413293 | $9318930 | $3037157 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $209015306 | $138680801 | $2617965826 | $18413293 | $9318923 | $3037157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation nonunitized |  |  | 4003856 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  | 132762 | 207061 |  | 7 |  |
|  **Total Net Assets** | $209015306 | $138813563 | $2622176743 | $18413293 | $9318930 | $3037157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $167621532 | $115572832 | $1578194914 | $19531766 | $9521714 | $3093404 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/CONSERVATIVE-<br>PLUS ALLOCATION\*** | **EQ/CORE BOND<br>INDEX\*** | **EQ/CORE PLUS<br>BOND\*** | **EQ/EMERGING<br>MARKETS EQUITY<br>PLUS\*** | **EQ/EQUITY 500<br>INDEX\*** | **EQ/FIDELITY<br>INSTITUTIONAL<br>AM<sup>®</sup> LARGE CAP\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $31790381 | $118935751 | $122181117 | $5567383 | $2441952105 | $195674977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold | 27840 | 99495 |  |  | 6328599 | 967610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions |  |  |  | 732 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 31818221 | 119035246 | 122181117 | 5568115 | 2448280704 | 196642587 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased |  |  | 4630 | 88 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions | 26757 | 95478 | 6056 |  | 5996787 | 990392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 26757 | 95478 | 10686 | 88 | 5996787 | 990392 |
|  **Net Assets** | $31791464 | $118939768 | $122170431 | $5568027 | $2442283917 | $195652195 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $31687400 | $118939768 | $122034724 | $5563665 | $2441407845 | $195652195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation nonunitized |  |  | 79439 |  | 659024 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP | 104064 |  | 56268 | 4362 | 217048 |  |
|  **Total Net Assets** | $31791464 | $118939768 | $122170431 | $5568027 | $2442283917 | $195652195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $34180666 | $121266219 | $132102937 | $4601330 | $1507848894 | $140299484 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/FRANKLIN<br>RISING DIVIDENDS\*** | **EQ/GLOBAL<br>EQUITY MANAGED<br>VOLATILITY\*** | **EQ/GOLDMAN<br>SACHS MID CAP<br>VALUE\*** | **EQ/GROWTH<br>STRATEGY\*** | **EQ/INTERMEDIATE<br>CORPORATE BOND\*** | **EQ/INTERMEDIATE<br>GOVERNMENT<br>BOND\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $107366266 | $163166133 | $23445204 | $105456866 | $1131917 | $53693563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold |  | 40059 | 10006 | 107101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions | 40774 |  |  |  | 3591 | 34528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 107407040 | 163206192 | 23455210 | 105563967 | 1135508 | 53728091 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased | 46798 |  |  |  | 3339 | 37605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions |  | 56545 | 17435 | 107101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 46798 | 56545 | 17435 | 107101 | 3339 | 37605 |
|  **Net Assets** | $107360242 | $163149647 | $23437775 | $105456866 | $1132169 | $53690486 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $107360242 | $163056799 | $23434378 | $105456858 | $1132169 | $53635484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation nonunitized |  |  |  |  |  | 43848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  | 92848 | 3397 | 8 |  | 11154 |
|  **Total Net Assets** | $107360242 | $163149647 | $23437775 | $105456866 | $1132169 | $53690486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $79290721 | $155773589 | $22686065 | $99858050 | $1163088 | $54644984 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/INTERNATIONAL<br>CORE MANAGED<br>VOLATILITY\*** | **EQ/INTERNATIONAL<br>EQUITY INDEX\*** | **EQ/INTERNATIONAL<br>MANAGED<br>VOLATILITY\*** | **EQ/INTERNATIONAL<br>VALUE MANAGED<br>VOLATILITY\*** | **EQ/INVESCO<br>COMSTOCK\*** | **EQ/INVESCO<br>GLOBAL\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $71757541 | $454336064 | $9531273 | $90212042 | $52311937 | $4122737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold |  | 199541 | 532 |  | 134738 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions |  |  |  |  |  | 1220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 71757541 | 454535605 | 9531805 | 90212042 | 52446675 | 4123957 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased | 11098 |  |  | 6777 |  | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions | 7477 | 295495 | 514 | 25182 | 135493 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 18575 | 295495 | 514 | 31959 | 135493 | 119 |
|  **Net Assets** | $71738966 | $454240110 | $9531291 | $90180083 | $52311182 | $4123838 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $71631607 | $453936435 | $9531291 | $90094112 | $52298417 | $4123838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation nonunitized |  | 303675 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP | 107359 |  |  | 85971 | 12765 |  |
|  **Total Net Assets** | $71738966 | $454240110 | $9531291 | $90180083 | $52311182 | $4123838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $62299250 | $335833696 | $7897067 | $77905021 | $47660987 | $3892510 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/INVESCO<br>GLOBAL REAL<br>ASSETS\*** | **EQ/JANUS<br>ENTERPRISE\*** | **EQ/JPMORGAN<br>GROWTH STOCK\*** | **EQ/JPMORGAN<br>VALUE<br>OPPORTUNITIES\*** | **EQ/LARGE CAP<br>CORE MANAGED<br>VOLATILITY\*** | **EQ/LARGE CAP<br>GROWTH INDEX\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $57814309 | $110797404 | $298607484 | $167045279 | $58178113 | $467860720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold | 20052 | 1898 |  | 210371 | 33436 | 442656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions |  | 22125 | 194281 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 57834361 | 110821427 | 298801765 | 167255650 | 58211549 | 468303376 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased |  |  | 75031 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions | 22722 |  |  | 195155 | 32712 | 287389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 22722 |  | 75031 | 195155 | 32712 | 287389 |
|  **Net Assets** | $57811639 | $110821427 | $298726734 | $167060495 | $58178837 | $468015987 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $57811639 | $110541930 | $298338400 | $166872103 | $58057223 | $467877520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  | 279497 | 388334 | 188392 | 121614 | 138467 |
|  **Total Net Assets** | $57811639 | $110821427 | $298726734 | $167060495 | $58178837 | $468015987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $55460410 | $108549389 | $267852087 | $162025631 | $59379081 | $339635964 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/LARGE CAP**<br>**GROWTH MANAGED**<br>**VOLATILITY\*** | **EQ/LARGE CAP**<br>**VALUE INDEX\*** | **EQ/LARGE CAP**<br>**VALUE MANAGED**<br>**VOLATILITY\*** | **EQ/LAZARD**<br>**EMERGING**<br>**MARKETS EQUITY\*** | **EQ/LONG-TERM**<br>**BOND\*** | **EQ/LOOMIS SAYLES**<br>**GROWTH\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $452566859 | $79643312 | $441493659 | $91416842 | $3766053 | $109443886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold | 402001 |  | 16508 | 87493 |  | 44956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions |  | 19993 |  |  | 543 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 452968860 | 79663305 | 441510167 | 91504335 | 3766596 | 109488842 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased |  | 14046 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions | 995109 |  | 373369 | 92542 |  | 42319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 995109 | 14046 | 373369 | 92542 |  | 42319 |
|  **Net Assets** | $451973751 | $79649259 | $441136798 | $91411793 | $3766596 | $109446523 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $451973751 | $79649259 | $440959276 | $91389523 | $3766596 | $109446523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation nonunitized |  |  | 164242 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  |  | 13280 | 22270 |  |  |
|  **Total Net Assets** | $451973751 | $79649259 | $441136798 | $91411793 | $3766596 | $109446523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $438155357 | $72078921 | $401860770 | $73945725 | $3832509 | $96994579 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MFS**<br>**INTERNATIONAL**<br>**GROWTH\*** | **EQ/MFS**<br>**INTERNATIONAL**<br>**INTRINSIC VALUE\*** | **EQ/MFS MID CAP<br>FOCUSED GROWTH\*** | **EQ/MFS**<br>**TECHNOLOGY\*** | **EQ/MFS UTILITIES**<br>**SERIES\*** | **EQ/MID CAP INDEX\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $146200692 | $185383634 | $77450740 | $155464253 | $7417061 | $265001295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold |  | 314791 |  | 487622 | 60819 | 148183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions | 5163 |  | 47186 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 146205855 | 185698425 | 77497926 | 155951875 | 7477880 | 265149478 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased | 1811 |  | 53908 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions |  | 347832 |  | 515854 | 68602 | 209285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 1811 | 347832 | 53908 | 515854 | 68602 | 209285 |
|  **Net Assets** | $146204044 | $185350593 | $77444018 | $155436021 | $7409278 | $264940193 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $146204044 | $185320072 | $77444018 | $155289230 | $7409278 | $264940193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  | 30521 |  | 146791 |  |  |
|  **Total Net Assets** | $146204044 | $185350593 | $77444018 | $155436021 | $7409278 | $264940193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $135928871 | $149520933 | $76603648 | $131174008 | $6962876 | $252828002 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MID CAP<br>VALUE MANAGED<br>VOLATILITY\*** | **EQ/MODERATE<br>ALLOCATION\*** | **EQ/MODERATE<br>GROWTH<br>STRATEGY\*** | **EQ/MODERATE-<br>PLUS ALLOCATION\*** | **EQ/MONEY<br>MARKET\*** | **EQ/MORGAN<br>STANLEY SMALL<br>CAP GROWTH\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $198895540 | $711125555 | $157914596 | $547256813 | $553696216 | $43153277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold | 16249 | 392835 | 1902 | 79261 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions |  | 242196 |  |  |  | 97232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 198911789 | 711760586 | 157916498 | 547336074 | 553696216 | 43250509 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased |  |  |  |  | 13959147 | 93801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions | 31960 |  | 1891 | 8218 | 7511661 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 31960 |  | 1891 | 8218 | 21470808 | 93801 |
|  **Net Assets** | $198879829 | $711760586 | $157914607 | $547327856 | $532225408 | $43156708 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $198799161 | $709873482 | $157914596 | $546926820 | $531017458 | $43156708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation nonunitized |  | 1813230 |  |  | 233653 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP | 80668 | 73874 | 11 | 401036 | 974297 |  |
|  **Total Net Assets** | $198879829 | $711760586 | $157914607 | $547327856 | $532225408 | $43156708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $195951588 | $770980718 | $159086234 | $585941818 | $553967062 | $40128122 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/PIMCO GLOBAL<br>REAL RETURN\*** | **EQ/PIMCO REAL<br>RETURN\*** | **EQ/PIMCO TOTAL<br>RETURN ESG\*** | **EQ/PIMCO ULTRA<br>SHORT BOND\*** | **EQ/QUALITY BOND<br>PLUS\*** | **EQ/SMALL<br>COMPANY INDEX\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $1040968 | $38619639 | $84324847 | $55422609 | $40665213 | $188576159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold |  | 153604 | 202436 | 42947 |  | 142335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions | 158 |  |  |  | 24510 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 1041126 | 38773243 | 84527283 | 55465556 | 40689723 | 188718494 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased |  |  |  |  | 767 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions |  | 157191 | 217977 | 42267 |  | 146848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities |  | 157191 | 217977 | 42267 | 767 | 146848 |
|  **Net Assets** | $1041126 | $38616052 | $84309306 | $55423289 | $40688956 | $188571646 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $1041126 | $38606008 | $84309306 | $55423289 | $40616691 | $188567918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  | 10044 |  |  | 72265 | 3728 |
|  **Total Net Assets** | $1041126 | $38616052 | $84309306 | $55423289 | $40688956 | $188571646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $1032322 | $40319479 | $89445278 | $55898568 | $42658678 | $175803971 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/T. ROWE PRICE<br>HEALTH SCIENCES\*** | **EQ/VALUE EQUITY\*** | **EQ/WELLINGTON<br>ENERGY\*** | **EQUITABLE<br>CONSERVATIVE<br>GROWTH MF/ETF\*** | **EQUITABLE<br>GROWTH MF/ETF\*** | **EQUITABLE<br>MODERATE<br>GROWTH MF/ETF\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $20654088 | $237577930 | $23130643 | $17340162 | $2498982 | $659780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold | 60525 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions |  |  |  | 1334 |  | 181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 20714613 | 237577930 | 23130643 | 17341496 | 2498982 | 659961 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased |  | 15422 | 6942 | 938 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions | 57023 | 2693 | 758 |  | 261 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 57023 | 18115 | 7700 | 938 | 261 |  |
|  **Net Assets** | $20657590 | $237559815 | $23122943 | $17340558 | $2498721 | $659961 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $20657590 | $237434118 | $23088626 | $17340558 | $2498721 | $659961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  | 125697 | 34317 |  |  |  |
|  **Total Net Assets** | $20657590 | $237559815 | $23122943 | $17340558 | $2498721 | $659961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $18567876 | $210837609 | $20384163 | $16695063 | $2433960 | $629351 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **FIDELITY<sup>®</sup> VIP ASSET<br>MANAGER 70%** | **FIDELITY<sup>®</sup> VIP<br>EQUITY-INCOME<br>PORTFOLIO** | **FIDELITY<sup>®</sup> VIP<br>GOVERNMENT<br>MONEY MARKET<br>PORTFOLIO** | **FIDELITY<sup>®</sup> VIP HIGH<br>INCOME PORTFOLIO** | **FIDELITY<sup>®</sup> VIP<br>INVESTMENT GRADE<br>BOND PORTFOLIO** | **FIDELITY<sup>®</sup> VIP MID<br>CAP PORTFOLIO** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $6273305 | $9677852 | $7008891 | $5380132 | $25731139 | $58974009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold |  | 258019 |  | 125949 | 893869 | 101859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions | 123 |  | 56 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 6273428 | 9935871 | 7008947 | 5506081 | 26625008 | 59075868 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased | 120 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions |  | 219428 |  | 126243 | 888462 | 66335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 120 | 219428 |  | 126243 | 888462 | 66335 |
|  **Net Assets** | $6273308 | $9716443 | $7008947 | $5379838 | $25736546 | $59009533 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $6273308 | $9662635 | $7008947 | $5379838 | $25728936 | $58953580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  | 53808 |  |  | 7610 | 55953 |
|  **Total Net Assets** | $6273308 | $9716443 | $7008947 | $5379838 | $25736546 | $59009533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $5362931 | $8705520 | $7008891 | $5322792 | $26809668 | $60069813 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **FIDELITY<sup>®</sup> VIP VALUE<br>PORTFOLIO** | **FIDELITY<sup>®</sup> VIP<br>VALUE STRATEGIES<br>PORTFOLIO** | **FRANKLIN SMALL<br>CAP VALUE VIP<br>FUND** | **INVESCO V.I.<br>DIVERSIFIED<br>DIVIDEND FUND** | **JANUS HENDERSON<br>BALANCED<br>PORTFOLIO** | **LORD ABBETT<br>SERIES FUND —<br>BOND DEBENTURE<br>PORTFOLIO** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $15646882 | $1283775 | $32032465 | $14810497 | $11201389 | $6822272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold | 4067 |  | 40112 | 66685 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions |  |  |  |  | 595 | 1694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 15650949 | 1283775 | 32072577 | 14877182 | 11201984 | 6823966 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased |  | 35 |  |  | 535 | 536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions | 4381 | 651 | 42051 | 66859 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 4381 | 686 | 42051 | 66859 | 535 | 536 |
|  **Net Assets** | $15646568 | $1283089 | $32030526 | $14810323 | $11201449 | $6823430 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $15632718 | $1283089 | $32030526 | $14810323 | $11176664 | $6823430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP | 13850 |  |  |  | 24785 |  |
|  **Total Net Assets** | $15646568 | $1283089 | $32030526 | $14810323 | $11201449 | $6823430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $15609248 | $1281806 | $30483782 | $14202828 | $10343936 | $6879028 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS<sup>®</sup><br>MASSACHUSETTS<br>INVESTORS<br>GROWTH STOCK<br>PORTFOLIO** | **MULTIMANAGER<br>AGGRESSIVE<br>EQUITY\*** | **MULTIMANAGER<br>CORE BOND\*** | **MULTIMANAGER<br>TECHNOLOGY\*** | **NOMURA VIP HIGH<br>INCOME SERIES** | **PIMCO<br>COMMODITYREAL<br>RETURN<sup>®</sup> STRATEGY<br>PORTFOLIO** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $12359637 | $830297921 | $59168104 | $376972615 | $70071997 | $19844534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold | 280 | 1219434 | 6604 |  | 11118 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions |  |  |  | 100952 |  | 14940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 12359917 | 831517355 | 59174708 | 377073567 | 70083115 | 19859474 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased |  |  |  | 73628 |  | 16564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions | 281 | 1203129 | 11728 |  | 9237 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 281 | 1203129 | 11728 | 73628 | 9237 | 16564 |
|  **Net Assets** | $12359636 | $830314226 | $59162980 | $376999939 | $70073878 | $19842910 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $12359089 | $828653402 | $59144920 | $376880211 | $70073878 | $19842910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation nonunitized |  | 1122592 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP | 547 | 538232 | 18060 | 119728 |  |  |
|  **Total Net Assets** | $12359636 | $830314226 | $59162980 | $376999939 | $70073878 | $19842910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $12623174 | $644889887 | $62482310 | $325229142 | $70933422 | $20422226 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **T. ROWE PRICE BLUE<br>CHIP GROWTH<br>PORTFOLIO** | **T. ROWE PRICE<br>EQUITY INCOME<br>PORTFOLIO** | **T. ROWE PRICE<br>MID-CAP GROWTH<br>PORTFOLIO** | **TARGET 2015<br>ALLOCATION\*** | **TARGET 2025<br>ALLOCATION\*** | **TARGET 2035<br>ALLOCATION\*** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $8931543 | $30052578 | $2177767 | $121922 | $9307514 | $13889227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold |  | 87 |  | 2288 | 134010 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions | 1496 | 691 | 548 |  |  | 60026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 8933039 | 30053356 | 2178315 | 124210 | 9441524 | 13949253 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased | 76 |  |  |  |  | 49505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions |  |  |  | 2336 | 134166 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 76 |  |  | 2336 | 134166 | 49505 |
|  **Net Assets** | $8932963 | $30053356 | $2178315 | $121874 | $9307358 | $13899748 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $8932963 | $30053356 | $2178315 | $121874 | $9307358 | $13888861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP |  |  |  |  |  | 10887 |
|  **Total Net Assets** | $8932963 | $30053356 | $2178315 | $121874 | $9307358 | $13899748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $8407285 | $29486097 | $2469623 | $134137 | $9493030 | $12145234 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **TARGET 2045<br>ALLOCATION\*** | **TARGET 2055<br>ALLOCATION\*** | **TEMPLETON<br>DEVELOPING<br>MARKETS VIP FUND** | **TEMPLETON GLOBAL<br>BOND VIP FUND** | **VANECK VIP GLOBAL<br>RESOURCES FUND** | **VANGUARD<br>VARIABLE<br>INSURANCE FUND**<br>**EQUITY INDEX**<br>**PORTFOLIO** |
|  **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at fair value | $11096287 | $8935139 | $31881107 | $43172669 | $20739585 | $21364858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for shares of the Portfolios sold |  |  |  | 2213 |  | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for policy-related transactions | 19077 | 2922 | 91086 |  | 99143 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 11115364 | 8938061 | 31972193 | 43174882 | 20838728 | 21364906 |
|  **Liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for shares of the Portfolios purchased | 20273 | 2543 | 79550 |  | 100705 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for policy-related transactions |  |  |  | 3774 |  | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 20273 | 2543 | 79550 | 3774 | 100705 | 47 |
|  **Net Assets** | $11095091 | $8935518 | $31892643 | $43171108 | $20738023 | $21364859 |
|  **Net Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulation unit values | $11092615 | $8935129 | $31876023 | $43171108 | $20738023 | $21334169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained by Equitable Financial in Separate Account FP | 2476 | 389 | 16620 |  |  | 30690 |
|  **Total Net Assets** | $11095091 | $8935518 | $31892643 | $43171108 | $20738023 | $21364859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in shares of the Portfolios, at cost | $9411485 | $7107355 | $24677159 | $44747574 | $16551637 | $14753476 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

The following table provides the Portfolio shares held by the Variable Investment Options of the Account:

---

| | | |
|:---|:---|:---|
|  | **Share Class\*\*** | **Portfolio Shares Held<br>(000's)** |
|  1290 VT CONVERTIBLE SECURITIES | CLASS IB | 967 |
|  1290 VT DOUBLELINE OPPORTUNISTIC BOND | CLASS IB | 1950 |
|  1290 VT EQUITY INCOME | CLASS IB | 5658 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | CLASS IB | 1574 |
|  1290 VT GAMCO SMALL COMPANY VALUE | CLASS IB | 4024 |
|  1290 VT MULTI-ALTERNATIVE STRATEGIES | CLASS IB | 91 |
|  1290 VT NATURAL RESOURCES | CLASS IB | 246 |
|  1290 VT REAL ESTATE | CLASS IB | 499 |
|  1290 VT SMALL CAP VALUE | CLASS IB | 4267 |
|  1290 VT SMARTBETA EQUITY ESG | CLASS IB | 1195 |
|  1290 VT SOCIALLY RESPONSIBLE | CLASS IB | 341 |
|  AB VPS DISCOVERY VALUE PORTFOLIO | CLASS B | 13 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> ASSET ALLOCATION FUND | CLASS 4 | 437 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND | CLASS 4 | 1270 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup> | CLASS 4 | 2098 |
|  BLACKROCK GLOBAL ALLOCATION V.I. FUND | CLASS III | 768 |
|  EQ/400 MANAGED VOLATILITY | CLASS IB | 305 |
|  EQ/500 MANAGED VOLATILITY | CLASS IB | 1125 |
|  EQ/2000 MANAGED VOLATILITY | CLASS IB | 406 |
|  EQ/AB SMALL CAP GROWTH | CLASS IB | 17558 |
|  EQ/AGGRESSIVE ALLOCATION | CLASS IB | 19417 |
|  EQ/ALL ASSET GROWTH ALLOCATION | CLASS IB | 2427 |
|  EQ/AMERICAN CENTURY MID CAP VALUE | CLASS IB | 5001 |
|  EQ/BALANCED STRATEGY | CLASS IB | 3182 |
|  EQ/CAPITAL GROUP RESEARCH | CLASS IB | 5622 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | CLASS IB | 8279 |
|  EQ/COMMON STOCK INDEX | CLASS IA | 39147 |
|  EQ/COMMON STOCK INDEX | CLASS IB | 10205 |
|  EQ/CONSERVATIVE ALLOCATION | CLASS IB | 2221 |
|  EQ/CONSERVATIVE GROWTH STRATEGY | CLASS IB | 671 |
|  EQ/CONSERVATIVE STRATEGY | CLASS IB | 260 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | CLASS IB | 3830 |
|  EQ/CORE BOND INDEX | CLASS IB | 12506 |
|  EQ/CORE PLUS BOND | CLASS IA | 19450 |
|  EQ/CORE PLUS BOND | CLASS IB | 16534 |
|  EQ/EMERGING MARKETS EQUITY PLUS | CLASS IB | 476 |
|  EQ/EQUITY 500 INDEX | CLASS IA | 11873 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
|  | **Share Class\*\*** | **Portfolio Shares Held<br>(000's)** |
|  EQ/EQUITY 500 INDEX | CLASS IB | 13579 |
|  EQ/FIDELITY INSTITUTIONAL AM<sup>®</sup> LARGE CAP | CLASS IB | 2967 |
|  EQ/FRANKLIN RISING DIVIDENDS | CLASS IB | 2095 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | CLASS IB | 9525 |
|  EQ/GOLDMAN SACHS MID CAP VALUE | CLASS IB | 1079 |
|  EQ/GROWTH STRATEGY | CLASS IB | 5428 |
|  EQ/INTERMEDIATE CORPORATE BOND | CLASS IB | 113 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | CLASS IA | 3156 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | CLASS IB | 2389 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | CLASS IB | 5858 |
|  EQ/INTERNATIONAL EQUITY INDEX | CLASS IA | 20558 |
|  EQ/INTERNATIONAL EQUITY INDEX | CLASS IB | 12416 |
|  EQ/INTERNATIONAL MANAGED VOLATILITY | CLASS IB | 582 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | CLASS IB | 6038 |
|  EQ/INVESCO COMSTOCK | CLASS IB | 2363 |
|  EQ/INVESCO GLOBAL | CLASS IB | 140 |
|  EQ/INVESCO GLOBAL REAL ASSETS | CLASS IB | 3620 |
|  EQ/JANUS ENTERPRISE | CLASS IB | 5309 |
|  EQ/JPMORGAN GROWTH STOCK | CLASS IB | 4262 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | CLASS IB | 8193 |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY | CLASS IB | 5573 |
|  EQ/LARGE CAP GROWTH INDEX | CLASS IB | 16399 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | CLASS IB | 13998 |
|  EQ/LARGE CAP VALUE INDEX | CLASS IB | 7023 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | CLASS IB | 24258 |
|  EQ/LAZARD EMERGING MARKETS EQUITY | CLASS IB | 3592 |
|  EQ/LONG-TERM BOND | CLASS IB | 565 |
|  EQ/LOOMIS SAYLES GROWTH | CLASS IB | 9045 |
|  EQ/MFS INTERNATIONAL GROWTH | CLASS IB | 17873 |
|  EQ/MFS INTERNATIONAL INTRINSIC VALUE | CLASS IB | 4636 |
|  EQ/MFS MID CAP FOCUSED GROWTH | CLASS IB | 4506 |
|  EQ/MFS TECHNOLOGY | CLASS IB | 3759 |
|  EQ/MFS UTILITIES SERIES | CLASS IB | 183 |
|  EQ/MID CAP INDEX | CLASS IB | 16563 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | CLASS IB | 13017 |
|  EQ/MODERATE ALLOCATION | CLASS IA | 43643 |
|  EQ/MODERATE ALLOCATION | CLASS IB | 14455 |
|  EQ/MODERATE GROWTH STRATEGY | CLASS IB | 9530 |
|  EQ/MODERATE-PLUS ALLOCATION | CLASS IB | 56711 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
|  | **Share Class\*\*** | **Portfolio Shares Held<br>(000's)** |
|  EQ/MONEY MARKET | CLASS IA | 438282 |
|  EQ/MONEY MARKET | CLASS IB | 115414 |
|  EQ/MORGAN STANLEY SMALL CAP GROWTH | CLASS IB | 4620 |
|  EQ/PIMCO GLOBAL REAL RETURN | CLASS IB | 135 |
|  EQ/PIMCO REAL RETURN | CLASS IB | 3619 |
|  EQ/PIMCO TOTAL RETURN ESG | CLASS IB | 8858 |
|  EQ/PIMCO ULTRA SHORT BOND | CLASS IB | 5615 |
|  EQ/QUALITY BOND PLUS | CLASS IA | 2844 |
|  EQ/QUALITY BOND PLUS | CLASS IB | 2368 |
|  EQ/SMALL COMPANY INDEX | CLASS IB | 15220 |
|  EQ/T. ROWE PRICE HEALTH SCIENCES | CLASS IB | 309 |
|  EQ/VALUE EQUITY | CLASS IB | 9870 |
|  EQ/WELLINGTON ENERGY | CLASS IB | 5084 |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF | CLASS IB | 1396 |
|  EQUITABLE GROWTH MF/ETF | CLASS IB | 205 |
|  EQUITABLE MODERATE GROWTH MF/ETF | CLASS IB | 59 |
|  FIDELITY<sup>®</sup> VIP ASSET MANAGER 70% | SERVICE CLASS 2 | 249 |
|  FIDELITY<sup>®</sup> VIP EQUITY-INCOME PORTFOLIO | SERVICE CLASS 2 | 344 |
|  FIDELITY<sup>®</sup> VIP GOVERNMENT MONEY MARKET PORTFOLIO | SERVICE CLASS 2 | 7009 |
|  FIDELITY<sup>®</sup> VIP HIGH INCOME PORTFOLIO | SERVICE CLASS 2 | 1167 |
|  FIDELITY<sup>®</sup> VIP INVESTMENT GRADE BOND PORTFOLIO | SERVICE CLASS 2 | 2346 |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO | SERVICE CLASS 2 | 1677 |
|  FIDELITY<sup>®</sup> VIP VALUE PORTFOLIO | SERVICE CLASS 2 | 836 |
|  FIDELITY<sup>®</sup> VIP VALUE STRATEGIES PORTFOLIO | SERVICE CLASS 2 | 79 |
|  FRANKLIN SMALL CAP VALUE VIP FUND | CLASS 2 | 2309 |
|  INVESCO V.I. DIVERSIFIED DIVIDEND FUND | SERIES II | 551 |
|  JANUS HENDERSON BALANCED PORTFOLIO | SERVICE SHARES | 188 |
|  LORD ABBETT SERIES FUND — BOND DEBENTURE PORTFOLIO | VC SHARES | 643 |
|  MFS<sup>®</sup> MASSACHUSETTS INVESTORS GROWTH STOCK PORTFOLIO | SERVICE CLASS | 565 |
|  MULTIMANAGER AGGRESSIVE EQUITY | CLASS IA | 10022 |
|  MULTIMANAGER AGGRESSIVE EQUITY | CLASS IB | 1118 |
|  MULTIMANAGER CORE BOND | CLASS IB | 6739 |
|  MULTIMANAGER TECHNOLOGY | CLASS IB | 9192 |
|  NOMURA VIP HIGH INCOME SERIES | SERVICE CLASS | 23915 |
|  PIMCO COMMODITYREALRETURN<sup>®</sup> STRATEGY PORTFOLIO | ADVISOR CLASS | 3091 |
| T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO | CLASS II | 147 |
| T. ROWE PRICE EQUITY INCOME PORTFOLIO | CLASS II | 1049 |
| T. ROWE PRICE MID-CAP GROWTH PORTFOLIO | CLASS II | 92 |
|  TARGET 2015 ALLOCATION | CLASS IB | 19 |
|  TARGET 2025 ALLOCATION | CLASS IB | 890 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
|  | **Share Class\*\*** | **Portfolio Shares Held<br>(000's)** |
|  TARGET 2035 ALLOCATION | CLASS IB | 887 |
|  TARGET 2045 ALLOCATION | CLASS IB | 644 |
|  TARGET 2055 ALLOCATION | CLASS IB | 475 |
|  TEMPLETON DEVELOPING MARKETS VIP FUND | CLASS 2 | 2639 |
|  TEMPLETON GLOBAL BOND VIP FUND | CLASS 2 | 3278 |
|  VANECK VIP GLOBAL RESOURCES FUND | CLASS S | 649 |
|  VANGUARD VARIABLE INSURANCE FUND EQUITY INDEX PORTFOLIO | COMMON SHARES | 261 |

---

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

\*\* Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 6 of these financial statements.

The following table provides units outstanding and unit values associated with the Variable Investment Options of the Account and is further categorized by share class and contract charges:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  1290 VT CONVERTIBLE SECURITIES+ | 0.00% | CLASS IB | $17.04 | 276 |
|  1290 VT CONVERTIBLE SECURITIES | 0.00% | CLASS IB | $24.24 | 45 |
|  1290 VT CONVERTIBLE SECURITIES+ | 0.00% | CLASS IB | $176.18 |  |
|  1290 VT CONVERTIBLE SECURITIES+ | 0.00% | CLASS IB | $178.54 | 3 |
|  1290 VT CONVERTIBLE SECURITIES | 0.00% | CLASS IB | $242.41 | 16 |
|  1290 VT CONVERTIBLE SECURITIES | 0.60% | CLASS IB | $228.73 | 3 |
|  1290 VT DOUBLELINE OPPORTUNISTIC BOND+ | 0.00% | CLASS IB | $10.76 | 551 |
|  1290 VT DOUBLELINE OPPORTUNISTIC BOND | 0.00% | CLASS IB | $11.56 | 215 |
|  1290 VT DOUBLELINE OPPORTUNISTIC BOND+ | 0.00% | CLASS IB | $107.01 | 3 |
|  1290 VT DOUBLELINE OPPORTUNISTIC BOND+ | 0.00% | CLASS IB | $109.60 | 7 |
|  1290 VT DOUBLELINE OPPORTUNISTIC BOND | 0.00% | CLASS IB | $115.58 | 49 |
|  1290 VT DOUBLELINE OPPORTUNISTIC BOND | 0.60% | CLASS IB | $109.71 | 16 |
|  1290 VT EQUITY INCOME+ | 0.00% | CLASS IB | $16.65 | 37 |
|  1290 VT EQUITY INCOME+ | 0.00% | CLASS IB | $177.05 | 1 |
|  1290 VT EQUITY INCOME+ | 0.00% | CLASS IB | $183.86 | 3 |
|  1290 VT EQUITY INCOME | 0.00% | CLASS IB | $334.51 | 1 |
|  1290 VT EQUITY INCOME | 0.00% | CLASS IB | $460.94 | 41 |
|  1290 VT EQUITY INCOME | 0.60% | CLASS IB | $295.41 | 9 |
|  1290 VT EQUITY INCOME | 0.60% | CLASS IB | $298.91 | 13 |
|  1290 VT EQUITY INCOME | 0.80% | CLASS IB | $287.85 |  |
|  1290 VT EQUITY INCOME | 0.90% | CLASS IB | $282.48 | 2 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS+ | 0.00% | CLASS IB | $14.58 | 40 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | 0.00% | CLASS IB | $22.03 | 60 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS+ | 0.00% | CLASS IB | $149.01 | 1 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS+ | 0.00% | CLASS IB | $150.67 |  |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | 0.00% | CLASS IB | $220.35 | 1 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | 0.00% | CLASS IB | $226.67 | 12 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | 0.00% | CLASS IB | $282.71 | 30 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | 0.60% | CLASS IB | $202.54 | 35 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | 0.80% | CLASS IB | $195.05 |  |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | 0.90% | CLASS IB | $191.41 | 4 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  1290 VT GAMCO SMALL COMPANY VALUE+ | 0.00% | CLASS IB | $19.36 | 429 |
|  1290 VT GAMCO SMALL COMPANY VALUE | 0.00% | CLASS IB | $48.66 | 327 |
|  1290 VT GAMCO SMALL COMPANY VALUE+ | 0.00% | CLASS IB | $207.21 | 30 |
|  1290 VT GAMCO SMALL COMPANY VALUE+ | 0.00% | CLASS IB | $207.75 | 14 |
|  1290 VT GAMCO SMALL COMPANY VALUE | 0.00% | CLASS IB | $486.58 | 6 |
|  1290 VT GAMCO SMALL COMPANY VALUE | 0.00% | CLASS IB | $558.95 | 7 |
|  1290 VT GAMCO SMALL COMPANY VALUE | 0.00% | CLASS IB | $855.75 | 231 |
|  1290 VT GAMCO SMALL COMPANY VALUE | 0.60% | CLASS IB | $499.46 | 126 |
|  1290 VT GAMCO SMALL COMPANY VALUE | 0.80% | CLASS IB | $480.99 | 1 |
|  1290 VT GAMCO SMALL COMPANY VALUE | 0.90% | CLASS IB | $472.02 | 11 |
|  1290 VT MULTI-ALTERNATIVE STRATEGIES+ | 0.00% | CLASS IB | $12.72 | 59 |
|  1290 VT MULTI-ALTERNATIVE STRATEGIES+ | 0.00% | CLASS IB | $113.21 | 1 |
|  1290 VT NATURAL RESOURCES+ | 0.00% | CLASS IB | $18.48 | 105 |
|  1290 VT NATURAL RESOURCES+ | 0.00% | CLASS IB | $183.89 | 3 |
|  1290 VT NATURAL RESOURCES+ | 0.00% | CLASS IB | $195.67 | 1 |
|  1290 VT REAL ESTATE+ | 0.00% | CLASS IB | $10.69 | 219 |
|  1290 VT REAL ESTATE+ | 0.00% | CLASS IB | $98.60 | 7 |
|  1290 VT SMALL CAP VALUE+ | 0.00% | CLASS IB | $20.28 | 107 |
|  1290 VT SMALL CAP VALUE+ | 0.00% | CLASS IB | $205.40 | 8 |
|  1290 VT SMALL CAP VALUE+ | 0.00% | CLASS IB | $212.66 | 4 |
|  1290 VT SMALL CAP VALUE | 0.00% | CLASS IB | $256.24 | 112 |
|  1290 VT SMALL CAP VALUE | 0.60% | CLASS IB | $247.74 | 53 |
|  1290 VT SMALL CAP VALUE | 0.80% | CLASS IB | $244.95 |  |
|  1290 VT SMALL CAP VALUE | 0.90% | CLASS IB | $243.57 | 4 |
|  1290 VT SMARTBETA EQUITY ESG+ | 0.00% | CLASS IB | $19.06 | 126 |
|  1290 VT SMARTBETA EQUITY ESG | 0.00% | CLASS IB | $27.11 | 114 |
|  1290 VT SMARTBETA EQUITY ESG | 0.00% | CLASS IB | $163.89 |  |
|  1290 VT SMARTBETA EQUITY ESG+ | 0.00% | CLASS IB | $196.15 |  |
|  1290 VT SMARTBETA EQUITY ESG+ | 0.00% | CLASS IB | $200.84 | 7 |
|  1290 VT SMARTBETA EQUITY ESG | 0.00% | CLASS IB | $271.14 | 46 |
|  1290 VT SMARTBETA EQUITY ESG | 0.60% | CLASS IB | $160.81 | 1 |
|  1290 VT SMARTBETA EQUITY ESG | 0.60% | CLASS IB | $255.84 | 14 |
|  1290 VT SMARTBETA EQUITY ESG | 0.80% | CLASS IB | $159.79 |  |
|  1290 VT SMARTBETA EQUITY ESG | 0.90% | CLASS IB | $159.28 |  |
|  1290 VT SOCIALLY RESPONSIBLE+ | 0.00% | CLASS IB | $23.40 | 31 |
|  1290 VT SOCIALLY RESPONSIBLE+ | 0.00% | CLASS IB | $246.12 |  |
|  1290 VT SOCIALLY RESPONSIBLE+ | 0.00% | CLASS IB | $252.36 | 3 |
|  1290 VT SOCIALLY RESPONSIBLE | 0.00% | CLASS IB | $592.29 | 6 |
|  1290 VT SOCIALLY RESPONSIBLE | 0.00% | CLASS IB | $945.42 | 1 |
|  1290 VT SOCIALLY RESPONSIBLE | 0.60% | CLASS IB | $505.34 | 5 |
|  1290 VT SOCIALLY RESPONSIBLE | 0.80% | CLASS IB | $479.17 |  |
|  1290 VT SOCIALLY RESPONSIBLE | 0.90% | CLASS IB | $466.61 |  |
|  AB VPS DISCOVERY VALUE PORTFOLIO+ | 0.00% | CLASS B | $12.81 | 10 |
|  AB VPS DISCOVERY VALUE PORTFOLIO+ | 0.00% | CLASS B | $128.07 | 1 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> ASSET ALLOCATION FUND+ | 0.00% | CLASS 4 | $14.01 | 547 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> ASSET ALLOCATION FUND+ | 0.00% | CLASS 4 | $140.07 | 29 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND+ | 0.00% | CLASS 4 | $14.20 | 265 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND | 0.00% | CLASS 4 | $22.48 | 178 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND+ | 0.00% | CLASS 4 | $149.02 | 1 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND+ | 0.00% | CLASS 4 | $149.71 | 5 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND | 0.00% | CLASS 4 | $224.83 | 50 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND | 0.60% | CLASS 4 | $208.35 | 15 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND | 0.80% | CLASS 4 | $203.11 |  |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND | 0.90% | CLASS 4 | $200.54 | 4 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup>+ | 0.00% | CLASS 4 | $16.85 | 947 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup> | 0.00% | CLASS 4 | $22.43 | 578 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup>+ | 0.00% | CLASS 4 | $176.72 | 5 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup>+ | 0.00% | CLASS 4 | $181.22 | 11 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup> | 0.00% | CLASS 4 | $224.26 | 112 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup> | 0.60% | CLASS 4 | $207.83 | 43 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup> | 0.80% | CLASS 4 | $202.60 |  |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup> | 0.90% | CLASS 4 | $200.03 | 3 |
|  BLACKROCK GLOBAL ALLOCATION V.I. FUND+ | 0.00% | CLASS III | $16.52 | 158 |
|  BLACKROCK GLOBAL ALLOCATION V.I. FUND | 0.00% | CLASS III | $26.48 | 245 |
|  BLACKROCK GLOBAL ALLOCATION V.I. FUND+ | 0.00% | CLASS III | $124.13 | 6 |
|  BLACKROCK GLOBAL ALLOCATION V.I. FUND | 0.00% | CLASS III | $264.82 | 2 |
|  EQ/400 MANAGED VOLATILITY | 0.00% | CLASS IB | $382.67 | 12 |
|  EQ/400 MANAGED VOLATILITY | 0.60% | CLASS IB | $348.18 | 6 |
|  EQ/400 MANAGED VOLATILITY | 0.80% | CLASS IB | $337.35 |  |
|  EQ/400 MANAGED VOLATILITY | 0.90% | CLASS IB | $332.06 |  |
|  EQ/500 MANAGED VOLATILITY | 0.00% | CLASS IB | $584.70 | 44 |
|  EQ/500 MANAGED VOLATILITY | 0.60% | CLASS IB | $532.02 | 14 |
|  EQ/500 MANAGED VOLATILITY | 0.80% | CLASS IB | $515.46 |  |
|  EQ/500 MANAGED VOLATILITY | 0.90% | CLASS IB | $507.38 | 1 |
|  EQ/2000 MANAGED VOLATILITY | 0.00% | CLASS IB | $329.77 | 18 |
|  EQ/2000 MANAGED VOLATILITY | 0.60% | CLASS IB | $300.06 | 7 |
|  EQ/2000 MANAGED VOLATILITY | 0.80% | CLASS IB | $290.71 |  |
|  EQ/2000 MANAGED VOLATILITY | 0.90% | CLASS IB | $286.16 | 1 |
|  EQ/AB SMALL CAP GROWTH+ | 0.00% | CLASS IB | $17.03 | 554 |
|  EQ/AB SMALL CAP GROWTH | 0.00% | CLASS IB | $79.64 | 159 |
|  EQ/AB SMALL CAP GROWTH+ | 0.00% | CLASS IB | $175.57 | 19 |
|  EQ/AB SMALL CAP GROWTH+ | 0.00% | CLASS IB | $181.96 | 7 |
|  EQ/AB SMALL CAP GROWTH | 0.00% | CLASS IB | $859.66 | 41 |
|  EQ/AB SMALL CAP GROWTH | 0.00% | CLASS IB | $1047.31 | 39 |
|  EQ/AB SMALL CAP GROWTH | 0.60% | CLASS IB | $144.57 |  |
|  EQ/AB SMALL CAP GROWTH | 0.60% | CLASS IB | $653.12 | 103 |
|  EQ/AB SMALL CAP GROWTH | 0.60% | CLASS IB | $881.32 | 90 |
|  EQ/AB SMALL CAP GROWTH | 0.80% | CLASS IB | $831.83 | 2 |
|  EQ/AB SMALL CAP GROWTH | 0.90% | CLASS IB | $808.15 | 13 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQ/AGGRESSIVE ALLOCATION+ | 0.00% | CLASS IB | $17.68 | 735 |
|  EQ/AGGRESSIVE ALLOCATION | 0.00% | CLASS IB | $50.58 | 50 |
|  EQ/AGGRESSIVE ALLOCATION+ | 0.00% | CLASS IB | $186.36 | 5 |
|  EQ/AGGRESSIVE ALLOCATION+ | 0.00% | CLASS IB | $187.82 | 32 |
|  EQ/AGGRESSIVE ALLOCATION | 0.00% | CLASS IB | $303.38 |  |
|  EQ/AGGRESSIVE ALLOCATION | 0.00% | CLASS IB | $492.31 | 217 |
|  EQ/AGGRESSIVE ALLOCATION | 0.00% | CLASS IB | $502.54 | 70 |
|  EQ/AGGRESSIVE ALLOCATION | 0.60% | CLASS IB | $430.61 | 28 |
|  EQ/AGGRESSIVE ALLOCATION | 0.60% | CLASS IB | $439.56 | 62 |
|  EQ/AGGRESSIVE ALLOCATION | 0.80% | CLASS IB | $420.29 | 1 |
|  EQ/AGGRESSIVE ALLOCATION | 0.90% | CLASS IB | $410.98 | 3 |
|  EQ/ALL ASSET GROWTH ALLOCATION+ | 0.00% | CLASS IB | $16.48 | 60 |
|  EQ/ALL ASSET GROWTH ALLOCATION | 0.00% | CLASS IB | $20.97 | 66 |
|  EQ/ALL ASSET GROWTH ALLOCATION+ | 0.00% | CLASS IB | $170.59 |  |
|  EQ/ALL ASSET GROWTH ALLOCATION+ | 0.00% | CLASS IB | $172.65 | 7 |
|  EQ/ALL ASSET GROWTH ALLOCATION | 0.00% | CLASS IB | $290.34 | 136 |
|  EQ/ALL ASSET GROWTH ALLOCATION | 0.60% | CLASS IB | $264.18 | 24 |
|  EQ/ALL ASSET GROWTH ALLOCATION | 0.80% | CLASS IB | $255.95 |  |
|  EQ/ALL ASSET GROWTH ALLOCATION | 0.90% | CLASS IB | $251.94 | 1 |
|  EQ/AMERICAN CENTURY MID CAP VALUE+ | 0.00% | CLASS IB | $16.00 | 408 |
|  EQ/AMERICAN CENTURY MID CAP VALUE | 0.00% | CLASS IB | $42.95 | 265 |
|  EQ/AMERICAN CENTURY MID CAP VALUE+ | 0.00% | CLASS IB | $170.50 | 4 |
|  EQ/AMERICAN CENTURY MID CAP VALUE+ | 0.00% | CLASS IB | $173.58 | 7 |
|  EQ/AMERICAN CENTURY MID CAP VALUE | 0.00% | CLASS IB | $429.48 | 125 |
|  EQ/AMERICAN CENTURY MID CAP VALUE | 0.60% | CLASS IB | $390.78 | 78 |
|  EQ/AMERICAN CENTURY MID CAP VALUE | 0.80% | CLASS IB | $378.61 |  |
|  EQ/AMERICAN CENTURY MID CAP VALUE | 0.90% | CLASS IB | $372.67 | 10 |
|  EQ/BALANCED STRATEGY | 0.00% | CLASS IB | $252.39 | 201 |
|  EQ/CAPITAL GROUP RESEARCH | 0.00% | CLASS IB | $112.07 | 71 |
|  EQ/CAPITAL GROUP RESEARCH | 0.00% | CLASS IB | $970.97 | 2 |
|  EQ/CAPITAL GROUP RESEARCH | 0.00% | CLASS IB | $1001.87 | 33 |
|  EQ/CAPITAL GROUP RESEARCH | 0.00% | CLASS IB | $1319.03 | 19 |
|  EQ/CAPITAL GROUP RESEARCH | 0.60% | CLASS IB | $787.95 | 1 |
|  EQ/CAPITAL GROUP RESEARCH | 0.60% | CLASS IB | $855.03 | 147 |
|  EQ/CAPITAL GROUP RESEARCH | 0.80% | CLASS IB | $810.83 | 2 |
|  EQ/CAPITAL GROUP RESEARCH | 0.90% | CLASS IB | $789.60 | 16 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG+ | 0.00% | CLASS IB | $22.89 | 86 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | 0.00% | CLASS IB | $100.84 | 55 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG+ | 0.00% | CLASS IB | $239.65 | 2 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG+ | 0.00% | CLASS IB | $244.85 | 4 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | 0.00% | CLASS IB | $765.67 | 80 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | 0.00% | CLASS IB | $949.20 |  |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | 0.00% | CLASS IB | $1338.18 | 11 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | 0.60% | CLASS IB | $633.20 | 79 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | 0.80% | CLASS IB | $619.66 |  |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | 0.90% | CLASS IB | $603.44 | 6 |
|  EQ/COMMON STOCK INDEX | 0.00% | CLASS IA | $92.31 | 178 |
|  EQ/COMMON STOCK INDEX | 0.00% | CLASS IA | $1904.28 | 153 |
|  EQ/COMMON STOCK INDEX | 0.60% | CLASS IA | $4551.99 | 354 |
|  EQ/COMMON STOCK INDEX | 0.80% | CLASS IA | $1071.26 | 17 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQ/COMMON STOCK INDEX | 0.90% | CLASS IA | $1802.81 | 78 |
|  EQ/COMMON STOCK INDEX+ | 0.00% | CLASS IB | $22.96 | 1362 |
|  EQ/COMMON STOCK INDEX+ | 0.00% | CLASS IB | $242.13 | 52 |
|  EQ/COMMON STOCK INDEX+ | 0.00% | CLASS IB | $247.72 | 230 |
|  EQ/COMMON STOCK INDEX | 0.00% | CLASS IB | $594.63 | 302 |
|  EQ/COMMON STOCK INDEX | 0.60% | CLASS IB | $610.52 | 422 |
|  EQ/CONSERVATIVE ALLOCATION+ | 0.00% | CLASS IB | $11.99 | 56 |
|  EQ/CONSERVATIVE ALLOCATION | 0.00% | CLASS IB | $18.89 | 108 |
|  EQ/CONSERVATIVE ALLOCATION+ | 0.00% | CLASS IB | $120.89 | 2 |
|  EQ/CONSERVATIVE ALLOCATION+ | 0.00% | CLASS IB | $122.86 | 4 |
|  EQ/CONSERVATIVE ALLOCATION | 0.00% | CLASS IB | $169.48 |  |
|  EQ/CONSERVATIVE ALLOCATION | 0.00% | CLASS IB | $203.11 | 26 |
|  EQ/CONSERVATIVE ALLOCATION | 0.00% | CLASS IB | $207.34 | 19 |
|  EQ/CONSERVATIVE ALLOCATION | 0.60% | CLASS IB | $177.66 | 6 |
|  EQ/CONSERVATIVE ALLOCATION | 0.60% | CLASS IB | $181.36 | 23 |
|  EQ/CONSERVATIVE ALLOCATION | 0.80% | CLASS IB | $173.41 |  |
|  EQ/CONSERVATIVE ALLOCATION | 0.90% | CLASS IB | $169.56 | 3 |
|  EQ/CONSERVATIVE GROWTH STRATEGY | 0.00% | CLASS IB | $219.80 | 42 |
|  EQ/CONSERVATIVE STRATEGY | 0.00% | CLASS IB | $165.45 | 18 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION+ | 0.00% | CLASS IB | $13.45 | 119 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | 0.00% | CLASS IB | $25.21 | 163 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION+ | 0.00% | CLASS IB | $137.33 | 2 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION+ | 0.00% | CLASS IB | $139.34 | 9 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | 0.00% | CLASS IB | $261.39 | 50 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | 0.00% | CLASS IB | $266.82 | 16 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | 0.60% | CLASS IB | $228.64 | 6 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | 0.60% | CLASS IB | $233.38 | 23 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | 0.80% | CLASS IB | $223.15 |  |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | 0.90% | CLASS IB | $218.20 |  |
|  EQ/CORE BOND INDEX+ | 0.00% | CLASS IB | $11.03 | 1098 |
|  EQ/CORE BOND INDEX+ | 0.00% | CLASS IB | $109.60 | 15 |
|  EQ/CORE BOND INDEX+ | 0.00% | CLASS IB | $112.08 | 59 |
|  EQ/CORE BOND INDEX | 0.00% | CLASS IB | $157.97 | 101 |
|  EQ/CORE BOND INDEX | 0.00% | CLASS IB | $164.13 | 193 |
|  EQ/CORE BOND INDEX | 0.00% | CLASS IB | $165.10 | 2 |
|  EQ/CORE BOND INDEX | 0.60% | CLASS IB | $146.56 | 9 |
|  EQ/CORE BOND INDEX | 0.60% | CLASS IB | $171.20 | 7 |
|  EQ/CORE BOND INDEX | 0.60% | CLASS IB | $174.17 | 212 |
|  EQ/CORE BOND INDEX | 0.60% | CLASS IB | $175.21 | 61 |
|  EQ/CORE BOND INDEX | 0.80% | CLASS IB | $136.07 |  |
|  EQ/CORE BOND INDEX | 0.90% | CLASS IB | $132.81 | 4 |
|  EQ/CORE PLUS BOND | 0.00% | CLASS IA | $17.35 | 278 |
|  EQ/CORE PLUS BOND | 0.00% | CLASS IA | $282.38 | 76 |
|  EQ/CORE PLUS BOND | 0.60% | CLASS IA | $446.17 | 70 |
|  EQ/CORE PLUS BOND | 0.80% | CLASS IA | $172.85 | 2 |
|  EQ/CORE PLUS BOND | 0.90% | CLASS IA | $254.54 | 31 |
|  EQ/CORE PLUS BOND+ | 0.00% | CLASS IB | $11.97 | 276 |
|  EQ/CORE PLUS BOND+ | 0.00% | CLASS IB | $119.65 | 14 |
|  EQ/CORE PLUS BOND | 0.00% | CLASS IB | $171.06 | 218 |
|  EQ/CORE PLUS BOND | 0.60% | CLASS IB | $125.83 | 110 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQ/EMERGING MARKETS EQUITY PLUS+ | 0.00% | CLASS IB | $15.14 | 269 |
|  EQ/EMERGING MARKETS EQUITY PLUS+ | 0.00% | CLASS IB | $161.52 | 2 |
|  EQ/EMERGING MARKETS EQUITY PLUS+ | 0.00% | CLASS IB | $161.78 | 7 |
|  EQ/EQUITY 500 INDEX | 0.00% | CLASS IA | $94.99 | 1296 |
|  EQ/EQUITY 500 INDEX | 0.00% | CLASS IA | $2284.26 | 173 |
|  EQ/EQUITY 500 INDEX | 0.60% | CLASS IA | $1905.80 | 283 |
|  EQ/EQUITY 500 INDEX | 0.80% | CLASS IA | $1258.98 | 5 |
|  EQ/EQUITY 500 INDEX | 0.90% | CLASS IA | $1730.99 | 45 |
|  EQ/EQUITY 500 INDEX+ | 0.00% | CLASS IB | $23.74 | 8154 |
|  EQ/EQUITY 500 INDEX+ | 0.00% | CLASS IB | $250.23 | 263 |
|  EQ/EQUITY 500 INDEX+ | 0.00% | CLASS IB | $257.17 | 741 |
|  EQ/EQUITY 500 INDEX | 0.00% | CLASS IB | $691.27 | 934 |
|  EQ/EQUITY 500 INDEX | 0.60% | CLASS IB | $608.57 | 334 |
|  EQ/FIDELITY INSTITUTIONAL AM<sup>®</sup> LARGE CAP | 0.00% | CLASS IB | $101.51 | 92 |
|  EQ/FIDELITY INSTITUTIONAL AM<sup>®</sup> LARGE CAP | 0.00% | CLASS IB | $671.42 | 90 |
|  EQ/FIDELITY INSTITUTIONAL AM<sup>®</sup> LARGE CAP | 0.00% | CLASS IB | $1273.41 | 5 |
|  EQ/FIDELITY INSTITUTIONAL AM<sup>®</sup> LARGE CAP | 0.60% | CLASS IB | $610.93 | 184 |
|  EQ/FIDELITY INSTITUTIONAL AM<sup>®</sup> LARGE CAP | 0.80% | CLASS IB | $591.91 |  |
|  EQ/FIDELITY INSTITUTIONAL AM<sup>®</sup> LARGE CAP | 0.90% | CLASS IB | $582.63 | 12 |
|  EQ/FRANKLIN RISING DIVIDENDS | 0.00% | CLASS IB | $14.82 | 126 |
|  EQ/FRANKLIN RISING DIVIDENDS+ | 0.00% | CLASS IB | $19.26 | 355 |
|  EQ/FRANKLIN RISING DIVIDENDS | 0.00% | CLASS IB | $148.23 |  |
|  EQ/FRANKLIN RISING DIVIDENDS+ | 0.00% | CLASS IB | $199.43 | 8 |
|  EQ/FRANKLIN RISING DIVIDENDS+ | 0.00% | CLASS IB | $203.21 | 25 |
|  EQ/FRANKLIN RISING DIVIDENDS | 0.00% | CLASS IB | $551.74 | 107 |
|  EQ/FRANKLIN RISING DIVIDENDS | 0.60% | CLASS IB | $502.02 | 61 |
|  EQ/FRANKLIN RISING DIVIDENDS | 0.80% | CLASS IB | $486.39 |  |
|  EQ/FRANKLIN RISING DIVIDENDS | 0.90% | CLASS IB | $478.77 | 5 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | 0.00% | CLASS IB | $54.13 | 33 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | 0.00% | CLASS IB | $661.06 | 66 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | 0.00% | CLASS IB | $765.77 |  |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | 0.00% | CLASS IB | $1232.96 | 29 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | 0.60% | CLASS IB | $557.31 | 128 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | 0.60% | CLASS IB | $755.62 | 8 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | 0.80% | CLASS IB | $526.35 | 1 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | 0.90% | CLASS IB | $511.52 | 8 |
|  EQ/GOLDMAN SACHS MID CAP VALUE+ | 0.00% | CLASS IB | $18.24 | 166 |
|  EQ/GOLDMAN SACHS MID CAP VALUE+ | 0.00% | CLASS IB | $188.82 | 6 |
|  EQ/GOLDMAN SACHS MID CAP VALUE+ | 0.00% | CLASS IB | $195.45 | 9 |
|  EQ/GOLDMAN SACHS MID CAP VALUE | 0.00% | CLASS IB | $410.52 | 28 |
|  EQ/GOLDMAN SACHS MID CAP VALUE | 0.60% | CLASS IB | $373.53 | 15 |
|  EQ/GOLDMAN SACHS MID CAP VALUE | 0.80% | CLASS IB | $361.90 |  |
|  EQ/GOLDMAN SACHS MID CAP VALUE | 0.90% | CLASS IB | $356.22 |  |
|  EQ/GROWTH STRATEGY | 0.00% | CLASS IB | $332.10 | 318 |
|  EQ/INTERMEDIATE CORPORATE BOND+ | 0.00% | CLASS IB | $11.58 | 91 |
|  EQ/INTERMEDIATE CORPORATE BOND+ | 0.00% | CLASS IB | $115.77 | 1 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | 0.00% | CLASS IA | $12.56 | 195 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | 0.00% | CLASS IA | $262.01 | 42 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | 0.60% | CLASS IA | $266.04 | 53 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQ/INTERMEDIATE GOVERNMENT BOND | 0.80% | CLASS IA | $184.44 |  |
|  EQ/INTERMEDIATE GOVERNMENT BOND | 0.90% | CLASS IA | $206.71 | 14 |
|  EQ/INTERMEDIATE GOVERNMENT BOND+ | 0.00% | CLASS IB | $10.40 | 116 |
|  EQ/INTERMEDIATE GOVERNMENT BOND+ | 0.00% | CLASS IB | $103.95 | 8 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | 0.00% | CLASS IB | $138.18 | 6 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | 0.00% | CLASS IB | $188.27 | 51 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | 0.60% | CLASS IB | $160.35 | 65 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $16.38 | 59 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $173.60 | 1 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $174.25 | 2 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | 0.00% | CLASS IB | $292.93 | 97 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | 0.00% | CLASS IB | $452.00 | 39 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | 0.60% | CLASS IB | $249.18 | 80 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | 0.60% | CLASS IB | $307.59 | 2 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | 0.80% | CLASS IB | $237.01 |  |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | 0.90% | CLASS IB | $230.11 | 15 |
|  EQ/INTERNATIONAL EQUITY INDEX | 0.00% | CLASS IA | $35.04 | 271 |
|  EQ/INTERNATIONAL EQUITY INDEX | 0.00% | CLASS IA | $405.87 | 139 |
|  EQ/INTERNATIONAL EQUITY INDEX | 0.60% | CLASS IA | $337.29 | 601 |
|  EQ/INTERNATIONAL EQUITY INDEX | 0.80% | CLASS IA | $268.64 | 5 |
|  EQ/INTERNATIONAL EQUITY INDEX | 0.90% | CLASS IA | $307.35 | 48 |
|  EQ/INTERNATIONAL EQUITY INDEX+ | 0.00% | CLASS IB | $17.61 | 1837 |
|  EQ/INTERNATIONAL EQUITY INDEX+ | 0.00% | CLASS IB | $186.25 | 80 |
|  EQ/INTERNATIONAL EQUITY INDEX+ | 0.00% | CLASS IB | $187.09 | 53 |
|  EQ/INTERNATIONAL EQUITY INDEX | 0.00% | CLASS IB | $277.12 | 246 |
|  EQ/INTERNATIONAL EQUITY INDEX | 0.60% | CLASS IB | $250.52 | 175 |
|  EQ/INTERNATIONAL EQUITY INDEX | 0.90% | CLASS IB | $226.29 |  |
|  EQ/INTERNATIONAL MANAGED VOLATILITY | 0.00% | CLASS IB | $222.13 | 38 |
|  EQ/INTERNATIONAL MANAGED VOLATILITY | 0.60% | CLASS IB | $202.11 | 4 |
|  EQ/INTERNATIONAL MANAGED VOLATILITY | 0.80% | CLASS IB | $195.82 |  |
|  EQ/INTERNATIONAL MANAGED VOLATILITY | 0.90% | CLASS IB | $192.75 | 1 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $15.82 | 87 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $30.33 | 47 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $169.45 | 1 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $170.84 | 1 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $302.67 | 99 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $325.16 | 1 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $414.04 | 43 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | 0.60% | CLASS IB | $278.43 | 1 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | 0.60% | CLASS IB | $278.50 | 2 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | 0.60% | CLASS IB | $284.37 | 119 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | 0.80% | CLASS IB | $244.89 | 1 |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | 0.90% | CLASS IB | $261.73 | 16 |
|  EQ/INVESCO COMSTOCK+ | 0.00% | CLASS IB | $20.77 | 141 |
|  EQ/INVESCO COMSTOCK | 0.00% | CLASS IB | $29.39 | 54 |
|  EQ/INVESCO COMSTOCK+ | 0.00% | CLASS IB | $226.71 | 1 |
|  EQ/INVESCO COMSTOCK+ | 0.00% | CLASS IB | $226.92 | 4 |
|  EQ/INVESCO COMSTOCK | 0.00% | CLASS IB | $422.12 | 22 |
|  EQ/INVESCO COMSTOCK | 0.00% | CLASS IB | $537.35 | 43 |
|  EQ/INVESCO COMSTOCK | 0.60% | CLASS IB | $372.58 | 13 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQ/INVESCO COMSTOCK | 0.60% | CLASS IB | $377.19 | 22 |
|  EQ/INVESCO COMSTOCK | 0.80% | CLASS IB | $363.24 |  |
|  EQ/INVESCO COMSTOCK | 0.90% | CLASS IB | $356.46 | 2 |
|  EQ/INVESCO GLOBAL+ | 0.00% | CLASS IB | $18.98 | 122 |
|  EQ/INVESCO GLOBAL+ | 0.00% | CLASS IB | $205.08 | 5 |
|  EQ/INVESCO GLOBAL+ | 0.00% | CLASS IB | $206.35 | 4 |
|  EQ/INVESCO GLOBAL REAL ASSETS+ | 0.00% | CLASS IB | $12.84 | 292 |
|  EQ/INVESCO GLOBAL REAL ASSETS | 0.00% | CLASS IB | $24.97 | 326 |
|  EQ/INVESCO GLOBAL REAL ASSETS+ | 0.00% | CLASS IB | $128.88 | 1 |
|  EQ/INVESCO GLOBAL REAL ASSETS+ | 0.00% | CLASS IB | $133.17 | 4 |
|  EQ/INVESCO GLOBAL REAL ASSETS | 0.00% | CLASS IB | $249.68 | 150 |
|  EQ/INVESCO GLOBAL REAL ASSETS | 0.60% | CLASS IB | $227.18 | 30 |
|  EQ/INVESCO GLOBAL REAL ASSETS | 0.80% | CLASS IB | $220.10 |  |
|  EQ/INVESCO GLOBAL REAL ASSETS | 0.90% | CLASS IB | $216.65 | 4 |
|  EQ/JANUS ENTERPRISE+ | 0.00% | CLASS IB | $17.81 | 271 |
|  EQ/JANUS ENTERPRISE | 0.00% | CLASS IB | $25.88 | 49 |
|  EQ/JANUS ENTERPRISE+ | 0.00% | CLASS IB | $184.94 | 3 |
|  EQ/JANUS ENTERPRISE+ | 0.00% | CLASS IB | $187.26 | 4 |
|  EQ/JANUS ENTERPRISE | 0.00% | CLASS IB | $451.73 | 60 |
|  EQ/JANUS ENTERPRISE | 0.00% | CLASS IB | $653.75 | 63 |
|  EQ/JANUS ENTERPRISE | 0.60% | CLASS IB | $398.90 | 28 |
|  EQ/JANUS ENTERPRISE | 0.60% | CLASS IB | $403.64 | 49 |
|  EQ/JANUS ENTERPRISE | 0.80% | CLASS IB | $388.71 |  |
|  EQ/JANUS ENTERPRISE | 0.90% | CLASS IB | $381.46 | 9 |
|  EQ/JPMORGAN GROWTH STOCK+ | 0.00% | CLASS IB | $22.98 | 1099 |
|  EQ/JPMORGAN GROWTH STOCK | 0.00% | CLASS IB | $121.95 | 446 |
|  EQ/JPMORGAN GROWTH STOCK+ | 0.00% | CLASS IB | $241.33 | 5 |
|  EQ/JPMORGAN GROWTH STOCK+ | 0.00% | CLASS IB | $243.63 | 33 |
|  EQ/JPMORGAN GROWTH STOCK | 0.00% | CLASS IB | $693.27 | 19 |
|  EQ/JPMORGAN GROWTH STOCK | 0.00% | CLASS IB | $702.09 |  |
|  EQ/JPMORGAN GROWTH STOCK | 0.00% | CLASS IB | $703.55 |  |
|  EQ/JPMORGAN GROWTH STOCK | 0.00% | CLASS IB | $824.08 | 128 |
|  EQ/JPMORGAN GROWTH STOCK | 0.60% | CLASS IB | $620.18 | 134 |
|  EQ/JPMORGAN GROWTH STOCK | 0.60% | CLASS IB | $628.07 | 1 |
|  EQ/JPMORGAN GROWTH STOCK | 0.80% | CLASS IB | $597.47 | 1 |
|  EQ/JPMORGAN GROWTH STOCK | 0.90% | CLASS IB | $586.43 | 11 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES+ | 0.00% | CLASS IB | $21.31 | 1148 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | 0.00% | CLASS IB | $79.63 | 358 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES+ | 0.00% | CLASS IB | $228.32 | 3 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES+ | 0.00% | CLASS IB | $232.71 | 17 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | 0.00% | CLASS IB | $695.35 |  |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | 0.00% | CLASS IB | $845.82 | 58 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | 0.00% | CLASS IB | $905.83 | 10 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | 0.60% | CLASS IB | $148.37 | 1 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | 0.60% | CLASS IB | $499.53 | 7 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | 0.60% | CLASS IB | $711.79 | 56 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | 0.80% | CLASS IB | $671.83 | 1 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | 0.90% | CLASS IB | $652.71 | 11 |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $21.63 | 59 |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY | 0.00% | CLASS IB | $79.20 | 16 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $228.24 | 1 |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $233.82 | 6 |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY | 0.00% | CLASS IB | $572.28 | 63 |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY | 0.00% | CLASS IB | $888.75 | 7 |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY | 0.60% | CLASS IB | $487.70 | 23 |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY | 0.60% | CLASS IB | $586.82 |  |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY | 0.80% | CLASS IB | $462.27 |  |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY | 0.90% | CLASS IB | $450.06 | 1 |
|  EQ/LARGE CAP GROWTH INDEX+ | 0.00% | CLASS IB | $29.20 | 1420 |
|  EQ/LARGE CAP GROWTH INDEX | 0.00% | CLASS IB | $150.68 | 112 |
|  EQ/LARGE CAP GROWTH INDEX+ | 0.00% | CLASS IB | $306.15 | 13 |
|  EQ/LARGE CAP GROWTH INDEX+ | 0.00% | CLASS IB | $316.09 | 49 |
|  EQ/LARGE CAP GROWTH INDEX | 0.00% | CLASS IB | $804.95 | 127 |
|  EQ/LARGE CAP GROWTH INDEX | 0.00% | CLASS IB | $1345.58 |  |
|  EQ/LARGE CAP GROWTH INDEX | 0.00% | CLASS IB | $1617.57 | 28 |
|  EQ/LARGE CAP GROWTH INDEX | 0.60% | CLASS IB | $685.98 | 328 |
|  EQ/LARGE CAP GROWTH INDEX | 0.60% | CLASS IB | $1020.33 | 1 |
|  EQ/LARGE CAP GROWTH INDEX | 0.80% | CLASS IB | $650.21 | 3 |
|  EQ/LARGE CAP GROWTH INDEX | 0.90% | CLASS IB | $633.03 | 22 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY+ | 0.00% | CLASS IB | $24.44 | 89 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.00% | CLASS IB | $107.09 | 17 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY+ | 0.00% | CLASS IB | $255.92 | 1 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY+ | 0.00% | CLASS IB | $262.64 | 7 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.00% | CLASS IB | $1048.10 |  |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.00% | CLASS IB | $1316.64 | 60 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.00% | CLASS IB | $1379.53 | 59 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.60% | CLASS IB | $636.64 | 26 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.60% | CLASS IB | $807.27 | 3 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.60% | CLASS IB | $1108.01 | 222 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.80% | CLASS IB | $1045.81 | 3 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.90% | CLASS IB | $1016.05 | 17 |
|  EQ/LARGE CAP VALUE INDEX+ | 0.00% | CLASS IB | $17.79 | 651 |
|  EQ/LARGE CAP VALUE INDEX+ | 0.00% | CLASS IB | $188.44 | 6 |
|  EQ/LARGE CAP VALUE INDEX+ | 0.00% | CLASS IB | $191.68 | 35 |
|  EQ/LARGE CAP VALUE INDEX | 0.00% | CLASS IB | $230.15 | 40 |
|  EQ/LARGE CAP VALUE INDEX | 0.00% | CLASS IB | $265.12 | 118 |
|  EQ/LARGE CAP VALUE INDEX | 0.60% | CLASS IB | $203.27 | 34 |
|  EQ/LARGE CAP VALUE INDEX | 0.60% | CLASS IB | $205.65 | 37 |
|  EQ/LARGE CAP VALUE INDEX | 0.80% | CLASS IB | $198.05 |  |
|  EQ/LARGE CAP VALUE INDEX | 0.90% | CLASS IB | $194.35 | 26 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $53.11 | 31 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $448.51 |  |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $451.26 | 60 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $457.18 | 51 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $605.33 | 132 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.60% | CLASS IB | $383.01 | 4 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.60% | CLASS IB | $395.77 | 8 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.60% | CLASS IB | $445.98 | 287 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.60% | CLASS IB | $451.83 | 326 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.80% | CLASS IB | $369.92 | 8 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.90% | CLASS IB | $410.49 |  |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.90% | CLASS IB | $415.88 | 63 |
|  EQ/LAZARD EMERGING MARKETS EQUITY | 0.00% | CLASS IB | $21.18 | 502 |
|  EQ/LAZARD EMERGING MARKETS EQUITY | 0.00% | CLASS IB | $211.84 | 275 |
|  EQ/LAZARD EMERGING MARKETS EQUITY | 0.60% | CLASS IB | $192.75 | 103 |
|  EQ/LAZARD EMERGING MARKETS EQUITY | 0.80% | CLASS IB | $186.75 |  |
|  EQ/LAZARD EMERGING MARKETS EQUITY | 0.90% | CLASS IB | $183.82 | 14 |
|  EQ/LONG-TERM BOND+ | 0.00% | CLASS IB | $11.02 | 338 |
|  EQ/LONG-TERM BOND+ | 0.00% | CLASS IB | $110.16 |  |
|  EQ/LOOMIS SAYLES GROWTH+ | 0.00% | CLASS IB | $25.68 | 385 |
|  EQ/LOOMIS SAYLES GROWTH | 0.00% | CLASS IB | $80.77 | 98 |
|  EQ/LOOMIS SAYLES GROWTH+ | 0.00% | CLASS IB | $267.66 | 10 |
|  EQ/LOOMIS SAYLES GROWTH+ | 0.00% | CLASS IB | $269.72 | 6 |
|  EQ/LOOMIS SAYLES GROWTH | 0.00% | CLASS IB | $861.02 | 2 |
|  EQ/LOOMIS SAYLES GROWTH | 0.00% | CLASS IB | $1051.40 | 51 |
|  EQ/LOOMIS SAYLES GROWTH | 0.60% | CLASS IB | $760.56 | 13 |
|  EQ/LOOMIS SAYLES GROWTH | 0.60% | CLASS IB | $769.40 | 26 |
|  EQ/LOOMIS SAYLES GROWTH | 0.80% | CLASS IB | $740.95 |  |
|  EQ/LOOMIS SAYLES GROWTH | 0.90% | CLASS IB | $727.13 | 2 |
|  EQ/MFS INTERNATIONAL GROWTH | 0.00% | CLASS IB | $16.78 | 481 |
|  EQ/MFS INTERNATIONAL GROWTH+ | 0.00% | CLASS IB | $17.12 | 683 |
|  EQ/MFS INTERNATIONAL GROWTH | 0.00% | CLASS IB | $167.80 |  |
|  EQ/MFS INTERNATIONAL GROWTH+ | 0.00% | CLASS IB | $180.75 | 3 |
|  EQ/MFS INTERNATIONAL GROWTH+ | 0.00% | CLASS IB | $182.62 | 14 |
|  EQ/MFS INTERNATIONAL GROWTH | 0.00% | CLASS IB | $289.23 | 72 |
|  EQ/MFS INTERNATIONAL GROWTH | 0.00% | CLASS IB | $461.56 | 144 |
|  EQ/MFS INTERNATIONAL GROWTH | 0.60% | CLASS IB | $164.64 | 1 |
|  EQ/MFS INTERNATIONAL GROWTH | 0.60% | CLASS IB | $258.44 | 116 |
|  EQ/MFS INTERNATIONAL GROWTH | 0.80% | CLASS IB | $248.89 |  |
|  EQ/MFS INTERNATIONAL GROWTH | 0.90% | CLASS IB | $244.24 | 24 |
|  EQ/MFS INTERNATIONAL INTRINSIC VALUE+ | 0.00% | CLASS IB | $17.93 | 579 |
|  EQ/MFS INTERNATIONAL INTRINSIC VALUE | 0.00% | CLASS IB | $42.02 | 652 |
|  EQ/MFS INTERNATIONAL INTRINSIC VALUE+ | 0.00% | CLASS IB | $185.66 | 2 |
|  EQ/MFS INTERNATIONAL INTRINSIC VALUE+ | 0.00% | CLASS IB | $188.18 | 15 |
|  EQ/MFS INTERNATIONAL INTRINSIC VALUE | 0.00% | CLASS IB | $420.22 | 250 |
|  EQ/MFS INTERNATIONAL INTRINSIC VALUE | 0.60% | CLASS IB | $382.35 | 93 |
|  EQ/MFS INTERNATIONAL INTRINSIC VALUE | 0.80% | CLASS IB | $370.45 |  |
|  EQ/MFS INTERNATIONAL INTRINSIC VALUE | 0.90% | CLASS IB | $364.64 | 10 |
|  EQ/MFS MID CAP FOCUSED GROWTH+ | 0.00% | CLASS IB | $17.59 | 547 |
|  EQ/MFS MID CAP FOCUSED GROWTH | 0.00% | CLASS IB | $52.65 | 184 |
|  EQ/MFS MID CAP FOCUSED GROWTH+ | 0.00% | CLASS IB | $183.94 | 7 |
|  EQ/MFS MID CAP FOCUSED GROWTH+ | 0.00% | CLASS IB | $188.68 | 9 |
|  EQ/MFS MID CAP FOCUSED GROWTH | 0.00% | CLASS IB | $526.49 | 69 |
|  EQ/MFS MID CAP FOCUSED GROWTH | 0.60% | CLASS IB | $479.04 | 37 |
|  EQ/MFS MID CAP FOCUSED GROWTH | 0.80% | CLASS IB | $464.13 |  |
|  EQ/MFS MID CAP FOCUSED GROWTH | 0.90% | CLASS IB | $456.85 | 2 |
|  EQ/MFS TECHNOLOGY | 0.00% | CLASS IB | $23.21 | 652 |
|  EQ/MFS TECHNOLOGY+ | 0.00% | CLASS IB | $28.16 | 560 |
|  EQ/MFS TECHNOLOGY+ | 0.00% | CLASS IB | $174.05 | 40 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQ/MFS TECHNOLOGY | 0.00% | CLASS IB | $236.03 | 323 |
|  EQ/MFS TECHNOLOGY | 0.60% | CLASS IB | $228.20 | 165 |
|  EQ/MFS TECHNOLOGY | 0.80% | CLASS IB | $225.63 |  |
|  EQ/MFS TECHNOLOGY | 0.90% | CLASS IB | $224.36 | 15 |
|  EQ/MFS UTILITIES SERIES+ | 0.00% | CLASS IB | $15.84 | 148 |
|  EQ/MFS UTILITIES SERIES | 0.00% | CLASS IB | $37.23 | 121 |
|  EQ/MFS UTILITIES SERIES+ | 0.00% | CLASS IB | $138.37 | 2 |
|  EQ/MFS UTILITIES SERIES | 0.00% | CLASS IB | $372.32 | 1 |
|  EQ/MID CAP INDEX+ | 0.00% | CLASS IB | $17.79 | 1358 |
|  EQ/MID CAP INDEX | 0.00% | CLASS IB | $74.85 | 215 |
|  EQ/MID CAP INDEX+ | 0.00% | CLASS IB | $188.87 | 21 |
|  EQ/MID CAP INDEX+ | 0.00% | CLASS IB | $189.05 | 51 |
|  EQ/MID CAP INDEX | 0.00% | CLASS IB | $546.97 | 133 |
|  EQ/MID CAP INDEX | 0.00% | CLASS IB | $578.72 | 7 |
|  EQ/MID CAP INDEX | 0.00% | CLASS IB | $856.34 | 46 |
|  EQ/MID CAP INDEX | 0.60% | CLASS IB | $469.62 | 189 |
|  EQ/MID CAP INDEX | 0.60% | CLASS IB | $556.24 | 2 |
|  EQ/MID CAP INDEX | 0.80% | CLASS IB | $446.25 | 1 |
|  EQ/MID CAP INDEX | 0.90% | CLASS IB | $435.01 | 11 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $15.85 | 57 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $58.23 | 24 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $168.13 | 2 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY+ | 0.00% | CLASS IB | $169.81 | 5 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $517.22 | 1 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $665.79 | 26 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $668.63 | 12 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $718.30 | 68 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.60% | CLASS IB | $470.85 | 3 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.60% | CLASS IB | $546.58 | 13 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.60% | CLASS IB | $562.67 | 181 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.80% | CLASS IB | $531.08 | 2 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.90% | CLASS IB | $515.97 | 17 |
|  EQ/MODERATE ALLOCATION | 0.00% | CLASS IA | $28.75 | 291 |
|  EQ/MODERATE ALLOCATION | 0.00% | CLASS IA | $216.33 | 2 |
|  EQ/MODERATE ALLOCATION | 0.00% | CLASS IA | $619.30 | 109 |
|  EQ/MODERATE ALLOCATION | 0.60% | CLASS IA | $1256.47 | 338 |
|  EQ/MODERATE ALLOCATION | 0.80% | CLASS IA | $396.79 | 5 |
|  EQ/MODERATE ALLOCATION | 0.90% | CLASS IA | $496.22 | 63 |
|  EQ/MODERATE ALLOCATION+ | 0.00% | CLASS IB | $14.19 | 855 |
|  EQ/MODERATE ALLOCATION+ | 0.00% | CLASS IB | $145.92 | 24 |
|  EQ/MODERATE ALLOCATION+ | 0.00% | CLASS IB | $147.79 | 83 |
|  EQ/MODERATE ALLOCATION | 0.00% | CLASS IB | $305.06 | 323 |
|  EQ/MODERATE ALLOCATION | 0.60% | CLASS IB | $265.42 | 184 |
|  EQ/MODERATE GROWTH STRATEGY | 0.00% | CLASS IB | $290.04 | 544 |
|  EQ/MODERATE-PLUS ALLOCATION+ | 0.00% | CLASS IB | $15.98 | 1485 |
|  EQ/MODERATE-PLUS ALLOCATION | 0.00% | CLASS IB | $38.43 | 604 |
|  EQ/MODERATE-PLUS ALLOCATION+ | 0.00% | CLASS IB | $166.39 | 13 |
|  EQ/MODERATE-PLUS ALLOCATION+ | 0.00% | CLASS IB | $168.03 | 87 |
|  EQ/MODERATE-PLUS ALLOCATION | 0.00% | CLASS IB | $260.21 |  |
|  EQ/MODERATE-PLUS ALLOCATION | 0.00% | CLASS IB | $397.15 | 698 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQ/MODERATE-PLUS ALLOCATION | 0.00% | CLASS IB | $405.42 | 244 |
|  EQ/MODERATE-PLUS ALLOCATION | 0.60% | CLASS IB | $347.38 | 109 |
|  EQ/MODERATE-PLUS ALLOCATION | 0.60% | CLASS IB | $354.61 | 169 |
|  EQ/MODERATE-PLUS ALLOCATION | 0.80% | CLASS IB | $339.07 | 1 |
|  EQ/MODERATE-PLUS ALLOCATION | 0.90% | CLASS IB | $331.55 | 26 |
|  EQ/MONEY MARKET | 0.00% | CLASS IA | $11.87 | 24 |
|  EQ/MONEY MARKET | 0.00% | CLASS IA | $11.91 | 1169 |
|  EQ/MONEY MARKET | 0.00% | CLASS IA | $204.18 | 1424 |
|  EQ/MONEY MARKET | 0.60% | CLASS IA | $271.42 | 402 |
|  EQ/MONEY MARKET | 0.80% | CLASS IA | $149.63 | 1 |
|  EQ/MONEY MARKET | 0.90% | CLASS IA | $163.61 | 26 |
|  EQ/MONEY MARKET+ | 0.00% | CLASS IB | $11.73 | 3613 |
|  EQ/MONEY MARKET+ | 0.00% | CLASS IB | $117.45 | 33 |
|  EQ/MONEY MARKET+ | 0.00% | CLASS IB | $118.19 | 66 |
|  EQ/MONEY MARKET | 0.00% | CLASS IB | $156.11 | 226 |
|  EQ/MONEY MARKET | 0.60% | CLASS IB | $139.09 | 166 |
|  EQ/MORGAN STANLEY SMALL CAP GROWTH+ | 0.00% | CLASS IB | $21.22 | 340 |
|  EQ/MORGAN STANLEY SMALL CAP GROWTH | 0.00% | CLASS IB | $179.34 | 136 |
|  EQ/MORGAN STANLEY SMALL CAP GROWTH+ | 0.00% | CLASS IB | $210.07 | 9 |
|  EQ/MORGAN STANLEY SMALL CAP GROWTH+ | 0.00% | CLASS IB | $225.22 | 8 |
|  EQ/MORGAN STANLEY SMALL CAP GROWTH | 0.60% | CLASS IB | $173.38 | 44 |
|  EQ/MORGAN STANLEY SMALL CAP GROWTH | 0.80% | CLASS IB | $171.43 |  |
|  EQ/MORGAN STANLEY SMALL CAP GROWTH | 0.90% | CLASS IB | $170.47 | 1 |
|  EQ/PIMCO GLOBAL REAL RETURN+ | 0.00% | CLASS IB | $10.70 | 44 |
|  EQ/PIMCO GLOBAL REAL RETURN+ | 0.00% | CLASS IB | $104.87 | 1 |
|  EQ/PIMCO GLOBAL REAL RETURN+ | 0.00% | CLASS IB | $107.49 | 4 |
|  EQ/PIMCO REAL RETURN+ | 0.00% | CLASS IB | $12.12 | 182 |
|  EQ/PIMCO REAL RETURN | 0.00% | CLASS IB | $15.81 | 205 |
|  EQ/PIMCO REAL RETURN+ | 0.00% | CLASS IB | $120.81 | 4 |
|  EQ/PIMCO REAL RETURN+ | 0.00% | CLASS IB | $122.75 | 12 |
|  EQ/PIMCO REAL RETURN | 0.00% | CLASS IB | $158.12 | 147 |
|  EQ/PIMCO REAL RETURN | 0.60% | CLASS IB | $143.87 | 52 |
|  EQ/PIMCO REAL RETURN | 0.80% | CLASS IB | $139.39 |  |
|  EQ/PIMCO REAL RETURN | 0.90% | CLASS IB | $137.20 | 4 |
|  EQ/PIMCO TOTAL RETURN ESG+ | 0.00% | CLASS IB | $11.05 | 553 |
|  EQ/PIMCO TOTAL RETURN ESG | 0.00% | CLASS IB | $15.22 | 405 |
|  EQ/PIMCO TOTAL RETURN ESG+ | 0.00% | CLASS IB | $109.63 | 5 |
|  EQ/PIMCO TOTAL RETURN ESG+ | 0.00% | CLASS IB | $113.09 | 20 |
|  EQ/PIMCO TOTAL RETURN ESG | 0.00% | CLASS IB | $152.18 | 325 |
|  EQ/PIMCO TOTAL RETURN ESG | 0.60% | CLASS IB | $138.47 | 134 |
|  EQ/PIMCO TOTAL RETURN ESG | 0.80% | CLASS IB | $134.16 |  |
|  EQ/PIMCO TOTAL RETURN ESG | 0.90% | CLASS IB | $132.05 | 9 |
|  EQ/PIMCO ULTRA SHORT BOND+ | 0.00% | CLASS IB | $11.86 | 313 |
|  EQ/PIMCO ULTRA SHORT BOND+ | 0.00% | CLASS IB | $118.95 | 6 |
|  EQ/PIMCO ULTRA SHORT BOND+ | 0.00% | CLASS IB | $119.78 | 11 |
|  EQ/PIMCO ULTRA SHORT BOND | 0.00% | CLASS IB | $145.29 | 43 |
|  EQ/PIMCO ULTRA SHORT BOND | 0.00% | CLASS IB | $148.90 | 163 |
|  EQ/PIMCO ULTRA SHORT BOND | 0.60% | CLASS IB | $118.19 | 2 |
|  EQ/PIMCO ULTRA SHORT BOND | 0.60% | CLASS IB | $129.13 | 41 |
|  EQ/PIMCO ULTRA SHORT BOND | 0.60% | CLASS IB | $129.83 | 97 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQ/PIMCO ULTRA SHORT BOND | 0.80% | CLASS IB | $125.03 |  |
|  EQ/PIMCO ULTRA SHORT BOND | 0.90% | CLASS IB | $122.70 | 7 |
|  EQ/QUALITY BOND PLUS | 0.00% | CLASS IA | $13.82 | 163 |
|  EQ/QUALITY BOND PLUS | 0.00% | CLASS IA | $285.51 | 20 |
|  EQ/QUALITY BOND PLUS | 0.60% | CLASS IA | $221.82 | 58 |
|  EQ/QUALITY BOND PLUS | 0.80% | CLASS IA | $197.68 | 1 |
|  EQ/QUALITY BOND PLUS | 0.90% | CLASS IA | $201.22 | 6 |
|  EQ/QUALITY BOND PLUS | 0.00% | CLASS IB | $192.57 | 44 |
|  EQ/QUALITY BOND PLUS | 0.60% | CLASS IB | $163.76 | 61 |
|  EQ/SMALL COMPANY INDEX+ | 0.00% | CLASS IB | $17.09 | 1031 |
|  EQ/SMALL COMPANY INDEX | 0.00% | CLASS IB | $62.40 | 174 |
|  EQ/SMALL COMPANY INDEX+ | 0.00% | CLASS IB | $182.01 | 37 |
|  EQ/SMALL COMPANY INDEX+ | 0.00% | CLASS IB | $184.17 | 49 |
|  EQ/SMALL COMPANY INDEX | 0.00% | CLASS IB | $370.51 | 1 |
|  EQ/SMALL COMPANY INDEX | 0.00% | CLASS IB | $671.95 | 101 |
|  EQ/SMALL COMPANY INDEX | 0.00% | CLASS IB | $925.54 | 32 |
|  EQ/SMALL COMPANY INDEX | 0.60% | CLASS IB | $553.64 | 4 |
|  EQ/SMALL COMPANY INDEX | 0.60% | CLASS IB | $621.56 |  |
|  EQ/SMALL COMPANY INDEX | 0.60% | CLASS IB | $629.63 | 21 |
|  EQ/SMALL COMPANY INDEX | 0.60% | CLASS IB | $714.16 | 38 |
|  EQ/SMALL COMPANY INDEX | 0.80% | CLASS IB | $678.38 |  |
|  EQ/SMALL COMPANY INDEX | 0.90% | CLASS IB | $579.52 |  |
|  EQ/SMALL COMPANY INDEX | 0.90% | CLASS IB | $663.06 | 4 |
|  EQ/T. ROWE PRICE HEALTH SCIENCES+ | 0.00% | CLASS IB | $16.76 | 362 |
|  EQ/T. ROWE PRICE HEALTH SCIENCES | 0.00% | CLASS IB | $76.10 | 127 |
|  EQ/T. ROWE PRICE HEALTH SCIENCES+ | 0.00% | CLASS IB | $176.24 | 16 |
|  EQ/T. ROWE PRICE HEALTH SCIENCES+ | 0.00% | CLASS IB | $184.90 | 6 |
|  EQ/T. ROWE PRICE HEALTH SCIENCES | 0.00% | CLASS IB | $760.96 | 1 |
|  EQ/VALUE EQUITY+ | 0.00% | CLASS IB | $16.25 | 99 |
|  EQ/VALUE EQUITY | 0.00% | CLASS IB | $53.09 | 137 |
|  EQ/VALUE EQUITY+ | 0.00% | CLASS IB | $172.96 | 7 |
|  EQ/VALUE EQUITY+ | 0.00% | CLASS IB | $173.18 | 3 |
|  EQ/VALUE EQUITY | 0.00% | CLASS IB | $495.98 | 1 |
|  EQ/VALUE EQUITY | 0.00% | CLASS IB | $692.53 | 53 |
|  EQ/VALUE EQUITY | 0.00% | CLASS IB | $911.47 | 94 |
|  EQ/VALUE EQUITY | 0.60% | CLASS IB | $501.62 | 17 |
|  EQ/VALUE EQUITY | 0.60% | CLASS IB | $605.79 | 1 |
|  EQ/VALUE EQUITY | 0.60% | CLASS IB | $767.04 | 111 |
|  EQ/VALUE EQUITY | 0.80% | CLASS IB | $723.98 | 1 |
|  EQ/VALUE EQUITY | 0.90% | CLASS IB | $703.38 | 14 |
|  EQ/WELLINGTON ENERGY | 0.00% | CLASS IB | $10.47 | 378 |
|  EQ/WELLINGTON ENERGY | 0.00% | CLASS IB | $104.72 | 131 |
|  EQ/WELLINGTON ENERGY | 0.60% | CLASS IB | $95.27 | 55 |
|  EQ/WELLINGTON ENERGY | 0.80% | CLASS IB | $92.31 |  |
|  EQ/WELLINGTON ENERGY | 0.90% | CLASS IB | $90.86 | 1 |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF+ | 0.00% | CLASS IB | $14.98 | 53 |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF | 0.00% | CLASS IB | $18.48 | 14 |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF+ | 0.00% | CLASS IB | $153.05 |  |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF+ | 0.00% | CLASS IB | $156.30 | 4 |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF | 0.00% | CLASS IB | $200.86 | 71 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF | 0.60% | CLASS IB | $186.14 | 7 |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF | 0.80% | CLASS IB | $181.45 |  |
|  EQUITABLE GROWTH MF/ETF+ | 0.00% | CLASS IB | $12.86 | 154 |
|  EQUITABLE GROWTH MF/ETF+ | 0.00% | CLASS IB | $128.56 | 4 |
|  EQUITABLE MODERATE GROWTH MF/ETF+ | 0.00% | CLASS IB | $12.53 | 34 |
|  EQUITABLE MODERATE GROWTH MF/ETF+ | 0.00% | CLASS IB | $125.35 | 2 |
|  FIDELITY<sup>®</sup> VIP ASSET MANAGER 70%+ | 0.00% | SERVICE CLASS 2 | $17.53 | 244 |
|  FIDELITY<sup>®</sup> VIP ASSET MANAGER 70% | 0.00% | SERVICE CLASS 2 | $49.49 | 10 |
|  FIDELITY<sup>®</sup> VIP ASSET MANAGER 70%+ | 0.00% | SERVICE CLASS 2 | $133.43 | 3 |
|  FIDELITY<sup>®</sup> VIP ASSET MANAGER 70% | 0.00% | SERVICE CLASS 2 | $511.79 | 2 |
|  FIDELITY<sup>®</sup> VIP EQUITY-INCOME PORTFOLIO | 0.00% | SERVICE CLASS 2 | $68.06 | 96 |
|  FIDELITY<sup>®</sup> VIP EQUITY-INCOME PORTFOLIO | 0.00% | SERVICE CLASS 2 | $723.47 | 4 |
|  FIDELITY<sup>®</sup> VIP GOVERNMENT MONEY MARKET PORTFOLIO | 0.00% | SERVICE CLASS 2 | $12.03 | 242 |
|  FIDELITY<sup>®</sup> VIP GOVERNMENT MONEY MARKET PORTFOLIO | 0.00% | SERVICE CLASS 2 | $120.25 | 34 |
|  FIDELITY<sup>®</sup> VIP HIGH INCOME PORTFOLIO | 0.00% | SERVICE CLASS 2 | $34.85 | 80 |
|  FIDELITY<sup>®</sup> VIP HIGH INCOME PORTFOLIO | 0.00% | SERVICE CLASS 2 | $362.53 | 7 |
|  FIDELITY<sup>®</sup> VIP INVESTMENT GRADE BOND PORTFOLIO | 0.00% | SERVICE CLASS 2 | $18.99 | 689 |
|  FIDELITY<sup>®</sup> VIP INVESTMENT GRADE BOND PORTFOLIO | 0.00% | SERVICE CLASS 2 | $208.65 | 61 |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO+ | 0.00% | SERVICE CLASS 2 | $19.73 | 252 |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO | 0.00% | SERVICE CLASS 2 | $72.19 | 136 |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO+ | 0.00% | SERVICE CLASS 2 | $205.98 | 8 |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO+ | 0.00% | SERVICE CLASS 2 | $210.29 | 5 |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO | 0.00% | SERVICE CLASS 2 | $437.58 | 62 |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO | 0.00% | SERVICE CLASS 2 | $1150.34 | 3 |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO | 0.60% | SERVICE CLASS 2 | $398.14 | 24 |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO | 0.80% | SERVICE CLASS 2 | $385.75 |  |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO | 0.90% | SERVICE CLASS 2 | $379.70 | 3 |
|  FIDELITY<sup>®</sup> VIP VALUE PORTFOLIO+ | 0.00% | SERVICE CLASS 2 | $20.30 | 556 |
|  FIDELITY<sup>®</sup> VIP VALUE PORTFOLIO | 0.00% | SERVICE CLASS 2 | $83.27 | 38 |
|  FIDELITY<sup>®</sup> VIP VALUE PORTFOLIO+ | 0.00% | SERVICE CLASS 2 | $146.91 | 8 |
|  FIDELITY<sup>®</sup> VIP VALUE PORTFOLIO | 0.00% | SERVICE CLASS 2 | $753.52 |  |
|  FIDELITY<sup>®</sup> VIP VALUE STRATEGIES PORTFOLIO | 0.00% | SERVICE CLASS 2 | $87.71 | 14 |
|  FIDELITY<sup>®</sup> VIP VALUE STRATEGIES PORTFOLIO | 0.00% | SERVICE CLASS 2 | $899.44 |  |
|  FRANKLIN SMALL CAP VALUE VIP FUND+ | 0.00% | CLASS 2 | $16.51 | 443 |
|  FRANKLIN SMALL CAP VALUE VIP FUND | 0.00% | CLASS 2 | $39.38 | 182 |
|  FRANKLIN SMALL CAP VALUE VIP FUND+ | 0.00% | CLASS 2 | $180.54 | 4 |
|  FRANKLIN SMALL CAP VALUE VIP FUND+ | 0.00% | CLASS 2 | $188.16 | 3 |
|  FRANKLIN SMALL CAP VALUE VIP FUND | 0.00% | CLASS 2 | $393.76 | 25 |
|  FRANKLIN SMALL CAP VALUE VIP FUND | 0.60% | CLASS 2 | $358.27 | 16 |
|  FRANKLIN SMALL CAP VALUE VIP FUND | 0.80% | CLASS 2 | $347.12 |  |
|  FRANKLIN SMALL CAP VALUE VIP FUND | 0.90% | CLASS 2 | $341.67 | 2 |
|  INVESCO V.I. DIVERSIFIED DIVIDEND FUND+ | 0.00% | SERIES II | $17.25 | 86 |
|  INVESCO V.I. DIVERSIFIED DIVIDEND FUND | 0.00% | SERIES II | $38.49 | 278 |
|  INVESCO V.I. DIVERSIFIED DIVIDEND FUND+ | 0.00% | SERIES II | $143.61 | 3 |
|  INVESCO V.I. DIVERSIFIED DIVIDEND FUND | 0.00% | SERIES II | $384.92 | 6 |
|  JANUS HENDERSON BALANCED PORTFOLIO+ | 0.00% | SERVICE SHARES | $14.16 | 695 |
|  JANUS HENDERSON BALANCED PORTFOLIO+ | 0.00% | SERVICE SHARES | $141.64 | 9 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  LORD ABBETT SERIES FUND — BOND DEBENTURE PORTFOLIO+ | 0.00% | VC SHARES | $12.23 | 452 |
|  LORD ABBETT SERIES FUND — BOND DEBENTURE PORTFOLIO+ | 0.00% | VC SHARES | $122.60 | 1 |
|  LORD ABBETT SERIES FUND — BOND DEBENTURE PORTFOLIO+ | 0.00% | VC SHARES | $125.12 | 9 |
|  MFS<sup>®</sup> MASSACHUSETTS INVESTORS GROWTH STOCK PORTFOLIO | 0.00% | SERVICE CLASS | $660.31 | 11 |
|  MFS<sup>®</sup> MASSACHUSETTS INVESTORS GROWTH STOCK PORTFOLIO | 0.60% | SERVICE CLASS | $600.81 | 9 |
|  MFS<sup>®</sup> MASSACHUSETTS INVESTORS GROWTH STOCK PORTFOLIO | 0.80% | SERVICE CLASS | $582.11 |  |
|  MFS<sup>®</sup> MASSACHUSETTS INVESTORS GROWTH STOCK PORTFOLIO | 0.90% | SERVICE CLASS | $572.98 |  |
|  MULTIMANAGER AGGRESSIVE EQUITY | 0.00% | CLASS IA | $119.34 | 20 |
|  MULTIMANAGER AGGRESSIVE EQUITY | 0.00% | CLASS IA | $675.33 |  |
|  MULTIMANAGER AGGRESSIVE EQUITY | 0.00% | CLASS IA | $1242.19 | 84 |
|  MULTIMANAGER AGGRESSIVE EQUITY | 0.60% | CLASS IA | $885.41 | 2 |
|  MULTIMANAGER AGGRESSIVE EQUITY | 0.60% | CLASS IA | $4496.99 | 131 |
|  MULTIMANAGER AGGRESSIVE EQUITY | 0.80% | CLASS IA | $643.09 | 8 |
|  MULTIMANAGER AGGRESSIVE EQUITY | 0.90% | CLASS IA | $1138.30 | 43 |
|  MULTIMANAGER AGGRESSIVE EQUITY+ | 0.00% | CLASS IB | $25.58 | 201 |
|  MULTIMANAGER AGGRESSIVE EQUITY+ | 0.00% | CLASS IB | $267.98 | 1 |
|  MULTIMANAGER AGGRESSIVE EQUITY+ | 0.00% | CLASS IB | $272.53 | 13 |
|  MULTIMANAGER AGGRESSIVE EQUITY | 0.00% | CLASS IB | $632.59 | 44 |
|  MULTIMANAGER AGGRESSIVE EQUITY | 0.60% | CLASS IB | $541.18 | 79 |
|  MULTIMANAGER CORE BOND | 0.00% | CLASS IB | $16.08 | 216 |
|  MULTIMANAGER CORE BOND | 0.00% | CLASS IB | $189.75 |  |
|  MULTIMANAGER CORE BOND | 0.00% | CLASS IB | $200.81 | 80 |
|  MULTIMANAGER CORE BOND | 0.00% | CLASS IB | $207.02 | 99 |
|  MULTIMANAGER CORE BOND | 0.60% | CLASS IB | $179.18 | 95 |
|  MULTIMANAGER CORE BOND | 0.60% | CLASS IB | $183.30 | 3 |
|  MULTIMANAGER CORE BOND | 0.80% | CLASS IB | $170.72 |  |
|  MULTIMANAGER CORE BOND | 0.90% | CLASS IB | $166.64 | 9 |
|  MULTIMANAGER TECHNOLOGY+ | 0.00% | CLASS IB | $29.54 | 509 |
|  MULTIMANAGER TECHNOLOGY | 0.00% | CLASS IB | $196.69 | 73 |
|  MULTIMANAGER TECHNOLOGY+ | 0.00% | CLASS IB | $308.98 | 15 |
|  MULTIMANAGER TECHNOLOGY+ | 0.00% | CLASS IB | $312.45 | 36 |
|  MULTIMANAGER TECHNOLOGY | 0.00% | CLASS IB | $2235.00 | 37 |
|  MULTIMANAGER TECHNOLOGY | 0.00% | CLASS IB | $2749.18 | 19 |
|  MULTIMANAGER TECHNOLOGY | 0.60% | CLASS IB | $1192.40 | 156 |
|  MULTIMANAGER TECHNOLOGY | 0.60% | CLASS IB | $1330.96 | 2 |
|  MULTIMANAGER TECHNOLOGY | 0.80% | CLASS IB | $1862.75 |  |
|  MULTIMANAGER TECHNOLOGY | 0.90% | CLASS IB | $1108.98 | 8 |
|  NOMURA VIP HIGH INCOME SERIES+ | 0.00% | SERVICE CLASS | $13.18 | 922 |
|  NOMURA VIP HIGH INCOME SERIES | 0.00% | SERVICE CLASS | $16.94 | 620 |
|  NOMURA VIP HIGH INCOME SERIES+ | 0.00% | SERVICE CLASS | $132.33 | 11 |
|  NOMURA VIP HIGH INCOME SERIES+ | 0.00% | SERVICE CLASS | $132.66 | 13 |
|  NOMURA VIP HIGH INCOME SERIES | 0.00% | SERVICE CLASS | $169.43 | 201 |
|  NOMURA VIP HIGH INCOME SERIES | 0.60% | SERVICE CLASS | $157.01 | 61 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  NOMURA VIP HIGH INCOME SERIES | 0.80% | SERVICE CLASS | $153.06 |  |
|  NOMURA VIP HIGH INCOME SERIES | 0.90% | SERVICE CLASS | $151.13 | 4 |
|  PIMCO COMMODITYREALRETURN<sup>®</sup> STRATEGY PORTFOLIO+ | 0.00% | ADVISOR CLASS | $17.17 | 100 |
|  PIMCO COMMODITYREALRETURN<sup>®</sup> STRATEGY PORTFOLIO | 0.00% | ADVISOR CLASS | $115.83 | 125 |
|  PIMCO COMMODITYREALRETURN<sup>®</sup> STRATEGY PORTFOLIO+ | 0.00% | ADVISOR CLASS | $176.70 | 3 |
|  PIMCO COMMODITYREALRETURN<sup>®</sup> STRATEGY PORTFOLIO+ | 0.00% | ADVISOR CLASS | $179.07 | 2 |
|  PIMCO COMMODITYREALRETURN<sup>®</sup> STRATEGY PORTFOLIO | 0.60% | ADVISOR CLASS | $105.40 | 24 |
|  PIMCO COMMODITYREALRETURN<sup>®</sup> STRATEGY PORTFOLIO | 0.80% | ADVISOR CLASS | $102.12 |  |
|  PIMCO COMMODITYREALRETURN<sup>®</sup> STRATEGY PORTFOLIO | 0.90% | ADVISOR CLASS | $100.52 | 2 |
| T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO+ | 0.00% | CLASS II | $24.71 | 274 |
| T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO+ | 0.00% | CLASS II | $247.12 | 9 |
| T. ROWE PRICE EQUITY INCOME PORTFOLIO+ | 0.00% | CLASS II | $17.64 | 204 |
| T. ROWE PRICE EQUITY INCOME PORTFOLIO+ | 0.00% | CLASS II | $187.64 | 1 |
| T. ROWE PRICE EQUITY INCOME PORTFOLIO+ | 0.00% | CLASS II | $191.48 | 6 |
| T. ROWE PRICE EQUITY INCOME PORTFOLIO | 0.00% | CLASS II | $405.19 | 38 |
| T. ROWE PRICE EQUITY INCOME PORTFOLIO | 0.60% | CLASS II | $368.67 | 24 |
| T. ROWE PRICE EQUITY INCOME PORTFOLIO | 0.80% | CLASS II | $357.20 |  |
| T. ROWE PRICE EQUITY INCOME PORTFOLIO | 0.90% | CLASS II | $351.60 | 3 |
| T. ROWE PRICE MID-CAP GROWTH PORTFOLIO+ | 0.00% | CLASS II | $14.32 | 109 |
| T. ROWE PRICE MID-CAP GROWTH PORTFOLIO+ | 0.00% | CLASS II | $143.18 | 4 |
|  TARGET 2015 ALLOCATION | 0.00% | CLASS IB | $28.00 | 4 |
|  TARGET 2015 ALLOCATION | 0.00% | CLASS IB | $220.15 |  |
|  TARGET 2025 ALLOCATION | 0.00% | CLASS IB | $38.19 | 43 |
|  TARGET 2025 ALLOCATION | 0.00% | CLASS IB | $192.52 | 8 |
|  TARGET 2025 ALLOCATION | 0.00% | CLASS IB | $284.09 | 11 |
|  TARGET 2025 ALLOCATION | 0.60% | CLASS IB | $180.54 | 17 |
|  TARGET 2025 ALLOCATION | 0.80% | CLASS IB | $176.70 |  |
|  TARGET 2035 ALLOCATION | 0.00% | CLASS IB | $46.69 | 60 |
|  TARGET 2035 ALLOCATION | 0.00% | CLASS IB | $221.23 | 16 |
|  TARGET 2035 ALLOCATION | 0.00% | CLASS IB | $334.43 | 12 |
|  TARGET 2035 ALLOCATION | 0.60% | CLASS IB | $207.46 | 17 |
|  TARGET 2035 ALLOCATION | 0.90% | CLASS IB | $200.88 |  |
|  TARGET 2045 ALLOCATION | 0.00% | CLASS IB | $53.23 | 98 |
|  TARGET 2045 ALLOCATION | 0.00% | CLASS IB | $239.06 | 14 |
|  TARGET 2045 ALLOCATION | 0.00% | CLASS IB | $365.55 | 3 |
|  TARGET 2045 ALLOCATION | 0.60% | CLASS IB | $224.19 | 6 |
|  TARGET 2045 ALLOCATION | 0.80% | CLASS IB | $219.42 |  |
|  TARGET 2055 ALLOCATION | 0.00% | CLASS IB | $26.18 | 51 |
|  TARGET 2055 ALLOCATION | 0.00% | CLASS IB | $261.75 | 26 |
|  TARGET 2055 ALLOCATION | 0.60% | CLASS IB | $245.47 | 3 |
|  TARGET 2055 ALLOCATION | 0.80% | CLASS IB | $240.24 |  |
|  TEMPLETON DEVELOPING MARKETS VIP FUND+ | 0.00% | CLASS 2 | $16.36 | 240 |
|  TEMPLETON DEVELOPING MARKETS VIP FUND+ | 0.00% | CLASS 2 | $176.34 |  |
|  TEMPLETON DEVELOPING MARKETS VIP FUND+ | 0.00% | CLASS 2 | $179.97 | 4 |
|  TEMPLETON DEVELOPING MARKETS VIP FUND | 0.00% | CLASS 2 | $212.30 | 95 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF ASSETS AND LIABILITIES (Concluded)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units<br>Outstanding<br>(000's)\*\*\*** |
|  TEMPLETON DEVELOPING MARKETS VIP FUND | 0.60% | CLASS 2 | $193.17 | 33 |
|  TEMPLETON DEVELOPING MARKETS VIP FUND | 0.80% | CLASS 2 | $187.15 |  |
|  TEMPLETON DEVELOPING MARKETS VIP FUND | 0.90% | CLASS 2 | $184.22 | 4 |
|  TEMPLETON GLOBAL BOND VIP FUND+ | 0.00% | CLASS 2 | $9.35 | 167 |
|  TEMPLETON GLOBAL BOND VIP FUND | 0.00% | CLASS 2 | $11.70 | 310 |
|  TEMPLETON GLOBAL BOND VIP FUND+ | 0.00% | CLASS 2 | $92.58 | 5 |
|  TEMPLETON GLOBAL BOND VIP FUND+ | 0.00% | CLASS 2 | $93.59 | 1 |
|  TEMPLETON GLOBAL BOND VIP FUND | 0.00% | CLASS 2 | $117.00 | 252 |
|  TEMPLETON GLOBAL BOND VIP FUND | 0.60% | CLASS 2 | $106.45 | 67 |
|  TEMPLETON GLOBAL BOND VIP FUND | 0.80% | CLASS 2 | $103.14 |  |
|  TEMPLETON GLOBAL BOND VIP FUND | 0.90% | CLASS 2 | $101.52 | 8 |
|  VANECK VIP GLOBAL RESOURCES FUND+ | 0.00% | CLASS S | $20.98 | 45 |
|  VANECK VIP GLOBAL RESOURCES FUND | 0.00% | CLASS S | $129.05 | 107 |
|  VANECK VIP GLOBAL RESOURCES FUND+ | 0.00% | CLASS S | $135.37 | 5 |
|  VANECK VIP GLOBAL RESOURCES FUND | 0.60% | CLASS S | $117.41 | 41 |
|  VANECK VIP GLOBAL RESOURCES FUND | 0.80% | CLASS S | $113.76 |  |
|  VANECK VIP GLOBAL RESOURCES FUND | 0.90% | CLASS S | $111.97 | 5 |
|  VANGUARD VARIABLE INSURANCE FUND EQUITY INDEX PORTFOLIO | 0.60% | COMMON SHARES | $785.80 | 27 |

---

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

\* Contract charges reflect the annual mortality, expense risk, financial accounting and other expenses related to the Variable Investment Options.

\*\* Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 6 of these financial statements.

\*\*\* Variable Investment Options where Units Outstanding are less than 500 are denoted by a —.

+ This Variable Investment Option is subject to an Investment Expense Reduction (See Note 7).

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 VT**<br>**CONVERTIBLE**<br>**SECURITIES\*** | **1290 VT<br>DOUBLELINE**<br>**OPPORTUNISTIC**<br>**BOND\*** | **1290 VT EQUITY**<br>**INCOME\*** | **1290 VT GAMCO**<br>**MERGERS &**<br>**ACQUISITIONS\*** | **1290 VT GAMCO**<br>**SMALL COMPANY**<br>**VALUE\*** | **1290 VT MULTI-**<br>**ALTERNATIVE**<br>**STRATEGIES\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $152829 | $735322 | $581933 | $592385 | $1847861 | $16864 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 1864 | 7399 | 43429 | 46594 | 396356 |  |
|  **Net Investment Income (Loss)** | 150965 | 727923 | 538504 | 545791 | 1451505 | 16864 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 168113 | (11810) | 266564 | 196868 | 6580685 | 40591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios |  |  | 2193204 | 636876 | 18152664 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 168113 | (11810) | 2459768 | 833744 | 24733349 | 40591 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 903852 | 229819 | 178190 | 1549689 | 7501167 | 43148 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 1071965 | 218009 | 2637958 | 2383433 | 32234516 | 83739 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $1222930 | $945932 | $3176462 | $2929224 | $33686021 | $100603 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 VT NATURAL<br>RESOURCES\*** | **1290 VT REAL<br>ESTATE\*** | **1290 VT SMALL<br>CAP VALUE\*** | **1290 VT<br>SMARTBETA<br>EQUITY ESG\*** | **1290 VT SOCIALLY<br>RESPONSIBLE\*** | **AB VPS<br>DISCOVERY<br>VALUE<br>PORTFOLIO\*\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $69788 | $83982 | $571572 | $166594 | $29074 | $1204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges |  |  | 88039 | 21476 | 13150 |  |
|  **Net Investment Income (Loss)** | 69788 | 83982 | 483533 | 145118 | 15924 | 1204 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 103566 | 32713 | 760231 | 348768 | 248328 | 1024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios |  |  | 4932456 | 1792232 | 601994 | 22714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 103566 | 32713 | 5692687 | 2141000 | 850322 | 23738 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 429201 | 124228 | (3474973) | 480694 | 343282 | (20492) |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 532767 | 156941 | 2217714 | 2621694 | 1193604 | 3246 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $602555 | $240923 | $2701247 | $2766812 | $1209528 | $&nbsp;&nbsp;&nbsp;&nbsp;4450 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of AB Variable Product Series Fund, Inc., an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AMERICAN FUNDS<br>INSURANCE<br>SERIES<sup>®</sup> ASSET<br>ALLOCATION<br>FUND** | **AMERICAN FUNDS<br>INSURANCE<br>SERIES<sup>®</sup> GLOBAL<br>SMALL<br>CAPITALIZATION<br>FUND** | **AMERICAN FUNDS<br>INSURANCE<br>SERIES<sup>®</sup> NEW<br>WORLD FUND<sup>®</sup>** | **BLACKROCK<br>GLOBAL<br>ALLOCATION V.I.<br>FUND** | **EQ/400<br>MANAGED<br>VOLATILITY\*** | **EQ/500<br>MANAGED<br>VOLATILITY\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
|  Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $195785 | $45177 | $554853 | $406167 | $59786 | $246344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges |  | 25652 | 53813 |  | 14493 | 49599 |
|  **Net Investment Income (Loss)** | 195785 | 19525 | 501040 | 406167 | 45293 | 196745 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 289616 | (1053517) | 804183 | (108699) | 5677 | 104014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 679787 | 480300 | 2360649 | 979419 | 523206 | 4431278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 969403 | (573217) | 3164832 | 870720 | 528883 | 4535292 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 325286 | 3544328 | 10546002 | 226818 | (368236) | (935673) |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 1294689 | 2971111 | 13710834 | 1097538 | 160647 | 3599619 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $1490474 | $2990636 | $14211874 | $1503705 | $205940 | $3796364 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/2000<br>MANAGED<br>VOLATILITY\*** | **EQ/AB SMALL<br>CAP GROWTH\*** | **EQ/AGGRESSIVE<br>ALLOCATION\*** | **EQ/ALL ASSET<br>GROWTH<br>ALLOCATION\*** | **EQ/AMERICAN<br>CENTURY MID<br>CAP VALUE\*** | **EQ/BALANCED<br>STRATEGY\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $76002 | $372092 | $2821803 | $1043761 | $1584162 | $1132836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 12285 | 934303 | 253388 | 35600 | 215815 |  |
|  **Net Investment Income (Loss)** | 63717 | (562211) | 2568415 | 1008161 | 1368347 | 1132836 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | (35863) | (2233944) | 383330 | 125214 | 186379 | 282131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 274983 | 24730326 | 18073383 | 2472283 | 7483640 | 3105692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 239120 | 22496382 | 18456713 | 2597497 | 7670019 | 3387823 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 415591 | (598696) | 2505224 | 3663778 | (362451) | 142816 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 654711 | 21897686 | 20961937 | 6261275 | 7307568 | 3530639 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $718428 | $21335475 | $23530352 | $7269436 | $8675915 | $4663475 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/CAPITAL<br>GROUP<br>RESEARCH\*** | **EQ/CLEARBRIDGE<br>LARGE CAP<br>GROWTH ESG\*** | **EQ/COMMON STOCK<br>INDEX\*** | **EQ/CONSERVATIVE<br>ALLOCATION\*** | **EQ/CONSERVATIVE<br>GROWTH<br>STRATEGY\*** | **EQ/CONSERVATIVE<br>STRATEGY\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $878911 | $— | $15269383 | $572145 | $228005 | $88638 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 844332 | 330779 | 12016336 | 34436 |  |  |
|  **Net Investment Income (Loss)** | 34579 | (330779) | 3253047 | 537709 | 228005 | 88638 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 7584330 | 4526550 | 88590573 | (359195) | (1359) | (18199) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 16512895 | 14895517 | 181043966 | 420703 | 483149 | 84115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 24097225 | 19422067 | 269634539 | 61508 | 481790 | 65916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 10723058 | (9263759) | 90221310 | 671031 | 88804 | 72738 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 34820283 | 10158308 | 359855849 | 732539 | 570594 | 138654 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $34854862 | $9827529 | $363108896 | $1270248 | $798599 | $227292 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/CONSERVATIVE-<br>PLUS ALLOCATION\*** | **EQ/CORE BOND<br>INDEX\*** | **EQ/CORE PLUS<br>BOND\*** | **EQ/EMERGING<br>MARKETS EQUITY<br>PLUS\*** | **EQ/EQUITY 500<br>INDEX\*** | **EQ/FIDELITY<br>INSTITUTIONAL<br>AM<sup>®</sup> LARGE CAP\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $791566 | $3526850 | $6177912 | $108347 | $16592989 | $611220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 42704 | 293095 | 341221 |  | 4759248 | 870128 |
|  **Net Investment Income (Loss)** | 748862 | 3233755 | 5836691 | 108347 | 11833741 | (258908) |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | (566172) | (340575) | (2077068) | 101910 | 97426516 | 23168492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 1548283 |  |  |  | 61622325 | 12810082 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 982111 | (340575) | (2077068) | 101910 | 159048841 | 35978574 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 840256 | 3669136 | 5507542 | 992686 | 175541190 | (105655) |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 1822367 | 3328561 | 3430474 | 1094596 | 334590031 | 35872919 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $2571229 | $6562316 | $9267165 | $1202943 | $346423772 | $35614011 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/FRANKLIN<br>RISING<br>DIVIDENDS\*** | **EQ/GLOBAL<br>EQUITY MANAGED<br>VOLATILITY\*** | **EQ/GOLDMAN<br>SACHS MID CAP<br>VALUE\*** | **EQ/GROWTH<br>STRATEGY\*** | **EQ/INTERMEDIATE<br>CORPORATE<br>BOND\*** | **EQ/INTERMEDIATE<br>GOVERNMENT<br>BOND\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $783460 | $1268576 | $234948 | $1882134 | $55557 | $1610884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 195860 | 485329 | 35839 |  |  | 180343 |
|  **Net Investment Income (Loss)** | 587600 | 783247 | 199109 | 1882134 | 55557 | 1430541 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 3774310 | 3639817 | 279106 | 1239577 | 2529 | (451008) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 4044626 | 15956343 | 1824775 | 8647280 | 20403 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 7818936 | 19596160 | 2103881 | 9886857 | 22932 | (451008) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 2748737 | 6152252 | (400545) | (707352) | (25562) | 1720509 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 10567673 | 25748412 | 1703336 | 9179505 | (2630) | 1269501 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $11155273 | $26531659 | $1902445 | $11061639 | $52927 | $2700042 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/INTERNATIONAL<br>CORE MANAGED<br>VOLATILITY\*** | **EQ/INTERNATIONAL<br>EQUITY INDEX\*** | **EQ/INTERNATIONAL<br>MANAGED<br>VOLATILITY\*** | **EQ/INTERNATIONAL<br>VALUE MANAGED<br>VOLATILITY\*** | **EQ/INVESCO<br>COMSTOCK\*** | **EQ/INVESCO<br>GLOBAL\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $908559 | $15216990 | $195878 | $1886485 | $630946 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 146082 | 1484290 | 4943 | 232487 | 78685 |  |
|  **Net Investment Income (Loss)** | 762477 | 13732700 | 190935 | 1653998 | 552261 |  |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 1239920 | 16264333 | 106695 | 1282795 | 1275096 | 142904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 5050140 |  | 338242 | 4692403 | 4058103 | 511269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 6290060 | 16264333 | 444937 | 5975198 | 5333199 | 654173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 8066982 | 77485451 | 1331794 | 11709886 | 1608399 | (140851) |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 14357042 | 93749784 | 1776731 | 17685084 | 6941598 | 513322 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $15119519 | $107482484 | $1967666 | $19339082 | $7493859 | $513322 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/INVESCO<br>GLOBAL REAL<br>ASSETS\*** | **EQ/JANUS<br>ENTERPRISE\*** | **EQ/JPMORGAN<br>GROWTH STOCK\*** | **EQ/JPMORGAN<br>VALUE<br>OPPORTUNITIES\*** | **EQ/LARGE CAP<br>CORE MANAGED<br>VOLATILITY\*** | **EQ/LARGE CAP<br>GROWTH INDEX\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $1414547 | $— | $— | $1670115 | $435883 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 48018 | 215215 | 534574 | 303022 | 70480 | 1389689 |
|  **Net Investment Income (Loss)** | 1366529 | (215215) | (534574) | 1367093 | 365403 | (1389689) |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 265290 | 1714581 | 9136776 | 236531 | 298347 | 21545369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 2169462 | 9648208 | 44570203 | 13351492 | 7606230 | 37281249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 2434752 | 11362789 | 53706979 | 13588023 | 7904577 | 58826618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 3999908 | (2973402) | (15238460) | 6770533 | (2614984) | 11024486 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 6434660 | 8389387 | 38468519 | 20358556 | 5289593 | 69851104 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $7801189 | $8174172 | $37933945 | $21725649 | $5654996 | $68461415 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/LARGE CAP<br>GROWTH<br>MANAGED<br>VOLATILITY\*** | **EQ/LARGE CAP<br>VALUE INDEX\*** | **EQ/LARGE CAP<br>VALUE MANAGED<br>VOLATILITY\*** | **EQ/LAZARD**<br>**EMERGING<br>MARKETS<br>EQUITY\*** | **EQ/LONG-TERM<br>BOND\*** | **EQ/LOOMIS<br>SAYLES<br>GROWTH\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $426831 | $921793 | $5835204 | $3176781 | $47522 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 1695218 | 125537 | 1882787 | 115289 |  | 187189 |
|  **Net Investment Income (Loss)** | (1268387) | 796256 | 3952417 | 3061492 | 47522 | (187189) |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 8935391 | 1334201 | 16366481 | 1463641 | (22972) | 2963722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 63090023 | 4380646 | 35730797 | 3328455 |  | 8239795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 72025414 | 5714847 | 52097278 | 4792096 | (22972) | 11203517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (26543223) | 3505863 | (14636226) | 19134160 | 28894 | 1169011 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 45482191 | 9220710 | 37461052 | 23926256 | 5922 | 12372528 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $44213804 | $10016966 | $41413469 | $26987748 | $53444 | $12185339 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MFS<br>INTERNATIONAL<br>GROWTH\*** | **EQ/MFS<br>INTERNATIONAL<br>INTRINSIC VALUE\*** | **EQ/MFS MID CAP<br>FOCUSED<br>GROWTH\*** | **EQ/MFS<br>TECHNOLOGY\*** | **EQ/MFS UTILITIES<br>SERIES\*** | **EQ/MID CAP<br>INDEX\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $1323594 | $2206643 | $— | $— | $178045 | $2172962 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 218728 | 223250 | 121841 | 237697 |  | 551945 |
|  **Net Investment Income (Loss)** | 1104866 | 1983393 | (121841) | (237697) | 178045 | 1621017 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 1217575 | 5287464 | 2643842 | 9599265 | 137762 | 3230767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 11923847 | 9053251 | 9763766 | 14120994 | 83717 | 15456868 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 13141422 | 14340715 | 12407608 | 23720259 | 221479 | 18687635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 10758151 | 29590942 | (8455430) | (526794) | 448813 | (4493161) |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 23899573 | 43931657 | 3952178 | 23193465 | 670292 | 14194474 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $25004439 | $45915050 | $3830337 | $22955768 | $848337 | $15815491 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MID CAP<br>VALUE MANAGED<br>VOLATILITY\*** | **EQ/MODERATE<br>ALLOCATION\*** | **EQ/MODERATE<br>GROWTH<br>STRATEGY\*** | **EQ/MODERATE-<br>PLUS<br>ALLOCATION\*** | **EQ/MONEY<br>MARKET\*** | **EQ/MORGAN<br>STANLEY SMALL<br>CAP GROWTH\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $2313222 | $16468566 | $3169365 | $10215829 | $19672557 | $118470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 741553 | 3143860 |  | 657693 | 967518 | 44965 |
|  **Net Investment Income (Loss)** | 1571669 | 13324706 | 3169365 | 9558136 | 18705039 | 73505 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 3794294 | (8129805) | 1321617 | (5153985) | (102467) | (649767) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 13743610 | 39616886 | 12156380 | 41385742 | 2756 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 17537904 | 31487081 | 13477997 | 36231757 | (99711) | (649767) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (10484506) | 19852625 | (1051326) | 11183900 | (229676) | 3432557 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 7053398 | 51339706 | 12426671 | 47415657 | (329387) | 2782790 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $8625067 | $64664412 | $15596036 | $56973793 | $18375652 | $2856295 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/PIMCO<br>GLOBAL REAL**<br>**RETURN\*** | **EQ/PIMCO REAL<br>RETURN\*** | **EQ/PIMCO TOTAL<br>RETURN ESG\*** | **EQ/PIMCO ULTRA<br>SHORT BOND\*** | **EQ/QUALITY**<br>**BOND PLUS\*** | **EQ/SMALL<br>COMPANY INDEX\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $15610 | $1195341 | $3470377 | $2256358 | $1396237 | $1520177 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges |  | 47626 | 116847 | 116423 | 150801 | 265072 |
|  **Net Investment Income (Loss)** | 15610 | 1147715 | 3353530 | 2139935 | 1245436 | 1255105 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 3306 | (949969) | (1718020) | 212611 | (755577) | (718575) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios |  |  |  |  |  | 6166541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 3306 | (949969) | (1718020) | 212611 | (755577) | 5447966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 38246 | 2524040 | 4792757 | (102164) | 1862995 | 13956170 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 41552 | 1574071 | 3074737 | 110447 | 1107418 | 19404136 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $57162 | $2721786 | $6428267 | $2250382 | $2352854 | $20659241 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/T. ROWE**<br>**PRICE HEALTH**<br>**SCIENCES\*** | **EQ/VALUE**<br>**EQUITY\*** | **EQ/WELLINGTON**<br>**ENERGY\*** | **EQUITABLE**<br>**CONSERVATIVE**<br>**GROWTH MF/ETF\*** | **EQUITABLE**<br>**GROWTH**<br>**MF/ETF\*** | **EQUITABLE**<br>**MODERATE**<br>**GROWTH**<br>**MF/ETF\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $— | $3389558 | $583849 | $617860 | $31474 | $14092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges |  | 644902 | 31633 | 7364 |  |  |
|  **Net Investment Income (Loss)** |  | 2744656 | 552216 | 610496 | 31474 | 14092 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | (281945) | 3484210 | 1069342 | 310656 | 43322 | 1957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 330762 | 5736135 |  | 735039 | 61397 | 13763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 48817 | 9220345 | 1069342 | 1045695 | 104719 | 15720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 3230153 | 11394413 | 938767 | 275423 | 72605 | 32938 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 3278970 | 20614758 | 2008109 | 1321118 | 177324 | 48658 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $3278970 | $23359414 | $2560325 | $1931614 | $208798 | $62750 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **FIDELITY<sup>®</sup> VIP<br>ASSET MANAGER<br>70%** | **FIDELITY<sup>®</sup> VIP**<br>**EQUITY-INCOME**<br>**PORTFOLIO** | **FIDELITY<sup>®</sup> VIP**<br>**GOVERNMENT**<br>**MONEY MARKET**<br>**PORTFOLIO** | **FIDELITY<sup>®</sup> VIP**<br>**HIGH INCOME**<br>**PORTFOLIO** | **FIDELITY<sup>®</sup> VIP**<br>**INVESTMENT**<br>**GRADE BOND**<br>**PORTFOLIO** | **FIDELITY<sup>®</sup> VIP MID**<br>**CAP PORTFOLIO** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $104451 | $154883 | $253983 | $348737 | $880762 | $138012 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges |  |  |  |  |  | 63560 |
|  **Net Investment Income (Loss)** | 104451 | 154883 | 253983 | 348737 | 880762 | 74452 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 203284 | 327340 |  | (20559) | (424366) | (42602) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 165997 | 549461 |  |  |  | 6499705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 369281 | 876801 |  | (20559) | (424366) | 6457103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 474607 | 590843 |  | 146799 | 1097527 | (560719) |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 843888 | 1467644 |  | 126240 | 673161 | 5896384 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $948339 | $1622527 | $253983 | $474977 | $1553923 | $5970836 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **FIDELITY<sup>®</sup> VIP**<br>**VALUE**<br>**PORTFOLIO** | **FIDELITY<sup>®</sup> VIP**<br>**VALUE**<br>**STRATEGIES**<br>**PORTFOLIO** | **FRANKLIN SMALL<br>CAP VALUE VIP<br>FUND** | **INVESCO V.I.**<br>**DIVERSIFIED**<br>**DIVIDEND FUND** | **JANUS**<br>**HENDERSON**<br>**BALANCED**<br>**PORTFOLIO** | **LORD ABBETT**<br>**SERIES FUND -**<br>**BOND**<br>**DEBENTURE**<br>**PORTFOLIO** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $181959 | $9809 | $320036 | $195719 | $163188 | $394572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges |  |  | 37582 |  |  |  |
|  **Net Investment Income (Loss)** | 181959 | 9809 | 282454 | 195719 | 163188 | 394572 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 196966 | 200 | (233025) | (38746) | 175963 | 27356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 1051266 | 49607 | 2495991 | 1100284 | 267624 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1248232 | 49807 | 2262966 | 1061538 | 443587 | 27356 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 12961 | 33557 | (270327) | 729751 | 718424 | 32018 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 1261193 | 83364 | 1992639 | 1791289 | 1162011 | 59374 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $1443152 | $93173 | $2275093 | $1987008 | $1325199 | $453946 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS<sup>®</sup><br>MASSACHUSETTS<br>INVESTORS<br>GROWTH STOCK<br>PORTFOLIO** | **MULTIMANAGER<br>AGGRESSIVE**<br>**EQUITY\*** | **MULTIMANAGER<br>CORE BOND\*** | **MULTIMANAGER<br>TECHNOLOGY\*** | **NOMURA VIP<br>HIGH INCOME<br>SERIES** | **PIMCO**<br>**COMMODITYREAL**<br>**RETURN<sup>®</sup>**<br>**STRATEGY**<br>**PORTFOLIO** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $2032 | $1779034 | $2030062 | $— | $4377636 | $508476 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 35784 | 4052470 | 119619 | 1074258 | 69593 | 16944 |
|  **Net Investment Income (Loss)** | (33752) | (2273436) | 1910443 | (1074258) | 4308043 | 491532 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | (19118) | 22429019 | (1173698) | 10719448 | (1025693) | (369784) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 1760526 | 132457668 |  | 40628569 | 27430 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1741408 | 154886687 | (1173698) | 51348017 | (998263) | (369784) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (594709) | (37753597) | 3102635 | 26001818 | 1308895 | 3022383 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 1146699 | 117133090 | 1928937 | 77349835 | 310632 | 2652599 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $1112947 | $114859654 | $3839380 | $76275577 | $4618675 | $3144131 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **T. ROWE PRICE**<br>**BLUE CHIP**<br>**GROWTH**<br>**PORTFOLIO** | **T. ROWE PRICE<br>EQUITY INCOME<br>PORTFOLIO** | **T. ROWE PRICE<br>MID-CAP GROWTH<br>PORTFOLIO** | **TARGET 2015<br>ALLOCATION\*** | **TARGET 2025<br>ALLOCATION\*** | **TARGET 2035<br>ALLOCATION\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $— | $407288 | $— | $4623 | $256514 | $273428 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges |  | 59458 |  |  | 17114 | 17248 |
|  **Net Investment Income (Loss)** |  | 347830 |  | 4623 | 239400 | 256180 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 314904 | 382989 | (16028) | (177) | (60358) | 203619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 788889 | 2873904 | 300440 | 6391 | 659059 | 359593 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1103793 | 3256893 | 284412 | 6214 | 598701 | 563212 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 154512 | 101922 | (210021) | (120) | 227270 | 929904 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 1258305 | 3358815 | 74391 | 6094 | 825971 | 1493116 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $1258305 | $3706645 | $74391 | $10717 | $1065371 | $1749296 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF OPERATIONS (Concluded)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **TARGET 2045<br>ALLOCATION\*** | **TARGET 2055<br>ALLOCATION\*** | **TEMPLETON**<br>**DEVELOPING**<br>**MARKETS**<br>**VIP FUND** | **TEMPLETON<br>GLOBAL BOND<br>VIP FUND** | **VANECK VIP**<br>**GLOBAL**<br>**RESOURCES**<br>**FUND** | **VANGUARD**<br>**VARIABLE**<br>**INSURANCE FUND**<br>**EQUITY INDEX**<br>**PORTFOLIO** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $191811 | $131188 | $129470 | $— | $406823 | $206056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges | 7291 | 4795 | 31757 | 48654 | 26152 | 117514 |
|  **Net Investment Income (Loss)** | 184520 | 126393 | 97713 | (48654) | 380671 | 88542 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 330265 | 184510 | 392677 | (996990) | 360184 | 661907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 294001 | 211666 | 404062 |  |  | 397034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 624266 | 396176 | 796739 | (996990) | 360184 | 1058941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 791133 | 770498 | 8566156 | 6850437 | 4526240 | 2015277 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 1415399 | 1166674 | 9362895 | 5853447 | 4886424 | 3074218 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $1599919 | $1293067 | $9460608 | $5804793 | $5267095 | $3162760 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 VT CONVERTIBLE<br>SECURITIES\*** | **1290 VT CONVERTIBLE<br>SECURITIES\*** | **1290 VT DOUBLELINE<br>OPPORTUNISTIC BOND\*** | **1290 VT DOUBLELINE<br>OPPORTUNISTIC BOND\*** | **1290 VT EQUITY<br>INCOME\*** | **1290 VT EQUITY<br>INCOME\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $150965 | $118307 | $727923 | $506743 | $538504 | $471382 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 168113 | (251981) | (11810) | (167822) | 2459768 | 2250420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 903852 | 692168 | 229819 | (77029) | 178190 | (429749) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1222930 | 558494 | 945932 | 261892 | 3176462 | 2292053 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2297110 | 1466786 | 1941327 | 1504239 | 1023840 | 1008541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 768956 | 8320 | 3702056 | 1325843 | (256867) | (1026782) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (137169) | (137295) | (193668) | (142669) | (776130) | (779515) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (452434) | (295273) | (394548) | (275290) | (645600) | (642589) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 2476463 | 1042538 | 5055167 | 2412123 | (654757) | (1440345) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 2723 | 4128 | 4504 | 5946 | (4205) |  |
|  **Net Increase (Decrease) in Net Assets** | 3702116 | 1605160 | 6005603 | 2679961 | 2517500 | 851708 |
|  **Net Assets — Beginning of Year** | 7129329 | 5524169 | 10861728 | 8181767 | 25204755 | 24353047 |
|  **Net Assets — End of Year** | $10831445 | $7129329 | $16867331 | $10861728 | $27722255 | $25204755 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 VT GAMCO MERGERS**<br>**& ACQUISITIONS\*** | **1290 VT GAMCO MERGERS**<br>**& ACQUISITIONS\*** | **1290 VT GAMCO SMALL<br>COMPANY VALUE\*** | **1290 VT GAMCO SMALL<br>COMPANY VALUE\*** | **1290 VT MULTI-<br>ALTERNATIVE STRATEGIES\*** | **1290 VT MULTI-<br>ALTERNATIVE STRATEGIES\*** |
|  | **2025** | **2024** | **2025** | **2024** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **2025**  | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $545791 | $318735 | $1451505 | $1198054 | $16864 | $14566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 833744 | 838149 | 24733349 | 27114214 | 40591 | 1459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 1549689 | 349803 | 7501167 | (127296) | 43148 | 27236 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 2929224 | 1506687 | 33686021 | 28184972 | 100603 | 43261 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 748697 | 780511 | 11149223 | 10840211 | 229490 | 241694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (1164241) | 2021759 | 5518695 | (7117295) | (17323) | 56939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (550195) | (470038) | (8536209) | (7222665) | (30326) | (32) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (372240) | (392052) | (5419001) | (5367378) | (35540) | (30084) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (1337979) | 1940180 | 2712708 | (8867127) | 146301 | 268517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 2784 | 1115 | 21059 | 20836 | 652 | 807 |
|  **Net Increase (Decrease) in Net Assets** | 1594029 | 3447982 | 36419788 | 19338681 | 247556 | 312585 |
|  **Net Assets — Beginning of Year** | 19751046 | 16303064 | 270339407 | 251000726 | 663064 | 350479 |
|  **Net Assets — End of Year** | $21345075 | $19751046 | $306759195 | $270339407 | $910620 | $663064 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 VT NATURAL<br>RESOURCES\*** | **1290 VT NATURAL<br>RESOURCES\*** | **1290 VT REAL ESTATE\*** | **1290 VT REAL ESTATE\*** | **1290 VT SMALL CAP<br>VALUE\*** | **1290 VT SMALL CAP<br>VALUE\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $69788 | $54036 | $83982 | $65202 | $483533 | $547919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 103566 | 16398 | 32713 | 13324 | 5692687 | 4061740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 429201 | (173809) | 124228 | (33991) | (3474973) | 3161369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 602555 | (103375) | 240923 | 44535 | 2701247 | 7771028 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 723934 | 819500 | 903267 | 826791 | 2440836 | 1980948 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (185555) | (300338) | (39040) | 74678 | (1058867) | 832151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (39950) | (85359) | (31300) | (53707) | (1324566) | (1547360) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (119093) | (112188) | (161185) | (135852) | (1494527) | (1394169) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 379336 | 321615 | 671742 | 711910 | (1437124) | (128430) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 2020 | 5774 | 3880 | 2648 | 7300 |  |
|  **Net Increase (Decrease) in Net Assets** | 983911 | 224014 | 916545 | 759093 | 1271423 | 7642598 |
|  **Net Assets — Beginning of Year** | 1758864 | 1534850 | 2082216 | 1323123 | 46316452 | 38673854 |
|  **Net Assets — End of Year** | $2742775 | $1758864 | $2998761 | $2082216 | $47587875 | $46316452 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 VT SMARTBETA<br>EQUITY ESG\*** | **1290 VT SMARTBETA<br>EQUITY ESG\*** | **1290 VT SOCIALLY<br>RESPONSIBLE\*** | **1290 VT SOCIALLY<br>RESPONSIBLE\*** | **AB VPS DISCOVERY<br>VALUE PORTFOLIO\*\*** | **AB VPS DISCOVERY<br>VALUE PORTFOLIO\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $145118 | $158692 | $15924 | $19553 | $1204 | $1054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 2141000 | 1522569 | 850322 | 866980 | 23738 | 12196 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 480694 | 927308 | 343282 | 602084 | (20492) | (2838) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 2766812 | 2608569 | 1209528 | 1488617 | 4450 | 10412 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 1355321 | 1212892 | 448251 | 504139 | 55596 | 83062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 255958 | 1697195 | (445847) | (1060863) | (23402) | (103019) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (413525) | (734848) | (388263) | (487952) | (8) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (496826) | (476161) | (206480) | (214761) | (15440) | (13919) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 700928 | 1699078 | (592339) | (1259437) | 16746 | (33876) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 10508 | 8004 | 347728 | (399180) | 507 | 457 |
|  **Net Increase (Decrease) in Net Assets** | 3478248 | 4315651 | 964917 | (170000) | 21703 | (23007) |
|  **Net Assets — Beginning of Year** | 19782176 | 15466525 | 7394854 | 7564854 | 194147 | 217154 |
|  **Net Assets — End of Year** | $23260424 | $19782176 | $8359771 | $7394854 | $215850 | $194147 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of AB Variable Product Series Fund, Inc., an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AMERICAN FUNDS<br>INSURANCE SERIES<sup>®</sup><br>ASSET ALLOCATION FUND** | **AMERICAN FUNDS<br>INSURANCE SERIES<sup>®</sup><br>ASSET ALLOCATION FUND** | **AMERICAN FUNDS<br>INSURANCE SERIES<sup>®</sup>**<br>**GLOBAL SMALL**<br>**CAPITALIZATION FUND** | **AMERICAN FUNDS<br>INSURANCE SERIES<sup>®</sup>**<br>**GLOBAL SMALL**<br>**CAPITALIZATION FUND** | **AMERICAN FUNDS<br>INSURANCE SERIES<sup>®</sup> NEW<br>WORLD FUND<sup>®</sup>** | **AMERICAN FUNDS<br>INSURANCE SERIES<sup>®</sup> NEW<br>WORLD FUND<sup>®</sup>** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $195785 | $165921 | $19525 | $131262 | $501040 | $584495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 969403 | 317608 | (573217) | (730371) | 3164832 | 626962 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 325286 | 620667 | 3544328 | 912350 | 10546002 | 1971117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1490474 | 1104196 | 2990636 | 313241 | 14211874 | 3182574 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2743423 | 2233546 | 2404412 | 1981162 | 6333361 | 5577233 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (916988) | 431283 | (452215) | (65519) | (5075051) | (3078157) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (1815) | (63648) | (399686) | (258574) | (1182927) | (1584510) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (624344) | (500739) | (480649) | (425131) | (1441099) | (1212480) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 1200276 | 2100442 | 1071862 | 1231938 | (1365716) | (297914) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 26465 | 11643 | 11920 | 4511 | 22556 | 25307 |
|  **Net Increase (Decrease) in Net Assets** | 2717215 | 3216281 | 4074418 | 1549690 | 12868714 | 2909967 |
|  **Net Assets — Beginning of Year** | 8981986 | 5765705 | 20024214 | 18474524 | 53668458 | 50758491 |
|  **Net Assets — End of Year** | $11699201 | $8981986 | $24098632 | $20024214 | $66537172 | $53668458 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **BLACKROCK GLOBAL<br>ALLOCATION V.I. FUND** | **BLACKROCK GLOBAL<br>ALLOCATION V.I. FUND** | **EQ/400 MANAGED**<br>**VOLATILITY\*** | **EQ/400 MANAGED**<br>**VOLATILITY\*** | **EQ/500 MANAGED<br>VOLATILITY\*** | **EQ/500 MANAGED<br>VOLATILITY\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $406167 | $104564 | $45293 | $57865 | $196745 | $280171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 870720 | 415472 | 528883 | 694445 | 4535292 | 5483858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 226818 | 48989 | (368236) | 10291 | (935673) | 418419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1503705 | 569025 | 205940 | 762601 | 3796364 | 6182448 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 1422870 | 1199402 | 230033 | 250796 | 780552 | 787210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 465834 | (140572) | (516183) | 268463 | (1191126) | (228922) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (109216) | (491745) | (192139) | (264986) | (730074) | (502987) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (227024) | (173684) | (138306) | (154070) | (759274) | (740167) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 1552464 | 393401 | (616595) | 100203 | (1899922) | (684866) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 10072 | 8059 | (7) | 15 |  |  |
|  **Net Increase (Decrease) in Net Assets** | 3066241 | 970485 | (410662) | 862819 | 1896442 | 5497582 |
|  **Net Assets — Beginning of Year** | 7182176 | 6211691 | 7088426 | 6225607 | 31691081 | 26193499 |
|  **Net Assets — End of Year** | $10248417 | $7182176 | $6677764 | $7088426 | $33587523 | $31691081 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/2000 MANAGED<br>VOLATILITY\*** | **EQ/2000 MANAGED<br>VOLATILITY\*** | **EQ/AB SMALL CAP**<br>**GROWTH\*** | **EQ/AB SMALL CAP**<br>**GROWTH\*** | **EQ/AGGRESSIVE<br>ALLOCATION\*** | **EQ/AGGRESSIVE<br>ALLOCATION\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $63717 | $94983 | $(562211) | $(240509) | $2568415 | $3778930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 239120 | 383556 | 22496382 | 19938467 | 18456713 | 8303326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 415591 | 272886 | (598696) | 10177274 | 2505224 | 11761630 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 718428 | 751425 | 21335475 | 29875232 | 23530352 | 23843886 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 240912 | 267381 | 8782422 | 9334281 | 12806430 | 10682388 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 6280 | (118514) | (8041353) | (7439235) | (10632299) | (9052177) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (342877) | (184359) | (6589265) | (8796094) | (6131759) | (7926876) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (183760) | (202902) | (6538911) | (6808101) | (5477886) | (5291895) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (279445) | (238394) | (12387107) | (13709149) | (9435514) | (11588560) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP |  | 9 | 43841 |  | 13042 |  |
|  **Net Increase (Decrease) in Net Assets** | 438983 | 513040 | 8992209 | 16166083 | 14107880 | 12255326 |
|  **Net Assets — Beginning of Year** | 7914520 | 7401480 | 250867590 | 234701507 | 191328936 | 179073610 |
|  **Net Assets — End of Year** | $8353503 | $7914520 | $259859799 | $250867590 | $205436816 | $191328936 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/ALL ASSET GROWTH<br>ALLOCATION\*** | **EQ/ALL ASSET GROWTH<br>ALLOCATION\*** | **EQ/AMERICAN CENTURY<br>MID CAP VALUE\*** | **EQ/AMERICAN CENTURY<br>MID CAP VALUE\*** | **EQ/BALANCED STRATEGY\*** | **EQ/BALANCED STRATEGY\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1008161 | $960791 | $1368347 | $1635226 | $1132836 | $1255474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 2597497 | 1054750 | 7670019 | 5894866 | 3387823 | 2369700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 3663778 | 2378199 | (362451) | 977503 | 142816 | 469458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 7269436 | 4393740 | 8675915 | 8507595 | 4663475 | 4094632 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2649698 | 2831689 | 5026171 | 5265450 | 3095994 | 3441434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (1416412) | (997461) | (3595126) | (9107238) | (977120) | (1118299) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (1106983) | (939829) | (3499474) | (3607768) | (1976350) | (1756885) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (1324243) | (1515404) | (2421006) | (2636205) | (1792419) | (1898841) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (1197940) | (621005) | (4489435) | (10085761) | (1649895) | (1332591) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | (21197) | (3035) | 20083 |  | (389) |  |
|  **Net Increase (Decrease) in Net Assets** | 6050299 | 3769700 | 4206563 | (1578166) | 3013191 | 2762041 |
|  **Net Assets — Beginning of Year** | 43528898 | 39759198 | 104189122 | 105767288 | 47766755 | 45004714 |
|  **Net Assets — End of Year** | $49579197 | $43528898 | $108395685 | $104189122 | $50779946 | $47766755 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/CAPITAL GROUP<br>RESEARCH\*** | **EQ/CAPITAL GROUP<br>RESEARCH\*** | **EQ/CLEARBRIDGE LARGE<br>CAP GROWTH ESG\*** | **EQ/CLEARBRIDGE LARGE<br>CAP GROWTH ESG\*** | **EQ/COMMON STOCK INDEX\*** | **EQ/COMMON STOCK INDEX\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $34579 | $2157736 | $(330779) | $(317108) | $3253047 | $6083904 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 24097225 | 29103008 | 19422067 | 14463489 | 269634539 | 234828951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 10723058 | 13695165 | (9263759) | 15697175 | 90221310 | 213325979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 34854862 | 44955909 | 9827529 | 29843556 | 363108896 | 454238834 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2725345 | 2992206 | 3163851 | 3616552 | 68845647 | 72397463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (5524051) | (7544764) | (4023135) | (8772731) | (63445589) | (44330274) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (9728280) | (4322933) | (3117997) | (2982981) | (77349081) | (72244581) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (3745654) | (3902528) | (2292741) | (2396498) | (73653427) | (73719822) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (16272640) | (12778019) | (6270022) | (10535658) | (145602450) | (117897214) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | (78017) | (460963) | 7074 |  | 280745 |  |
|  **Net Increase (Decrease) in Net Assets** | 18504205 | 31716927 | 3564581 | 19307898 | 217787191 | 336341620 |
|  **Net Assets — Beginning of Year** | 190511101 | 158794174 | 135248982 | 115941084 | 2404389552 | 2068047932 |
|  **Net Assets — End of Year** | $209015306 | $190511101 | $138813563 | $135248982 | $2622176743 | $2404389552 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/CONSERVATIVE<br>ALLOCATION\*** | **EQ/CONSERVATIVE<br>ALLOCATION\*** | **EQ/CONSERVATIVE<br>GROWTH STRATEGY\*** | **EQ/CONSERVATIVE<br>GROWTH STRATEGY\*** | **EQ/CONSERVATIVE<br>STRATEGY\*** | **EQ/CONSERVATIVE<br>STRATEGY\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $537709 | $521443 | $228005 | $237471 | $88638 | $89281 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 61508 | 29707 | 481790 | 323587 | 65916 | 17619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 671031 | 224642 | 88804 | 71148 | 72738 | 38677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1270248 | 775792 | 798599 | 632206 | 227292 | 145577 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 1829165 | 1518168 | 610816 | 649234 | 217687 | 229991 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (869620) | 244354 | (135805) | (251837) | (63049) | (18001) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (711298) | (636448) | (151823) | (203849) | (121117) | (144125) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (1391128) | (1586506) | (458312) | (493992) | (206058) | (212956) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (1142881) | (460432) | (135124) | (300444) | (172537) | (145091) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 4670 | 4501 |  |  |  |  |
|  **Net Increase (Decrease) in Net Assets** | 132037 | 319861 | 663475 | 331762 | 54755 | 486 |
|  **Net Assets — Beginning of Year** | 18281256 | 17961395 | 8655455 | 8323693 | 2982402 | 2981916 |
|  **Net Assets — End of Year** | $18413293 | $18281256 | $9318930 | $8655455 | $3037157 | $2982402 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/CONSERVATIVE-PLUS**<br>**ALLOCATION\*** | **EQ/CONSERVATIVE-PLUS**<br>**ALLOCATION\*** | **EQ/CORE BOND INDEX\*** | **EQ/CORE BOND INDEX\*** | **EQ/CORE PLUS BOND\*** | **EQ/CORE PLUS BOND\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $748862 | $776164 | $3233755 | $2280937 | $5836691 | $5504439 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 982111 | 442979 | (340575) | (719520) | (2077068) | (2835003) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 840256 | 788690 | 3669136 | 608785 | 5507542 | (3793889) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 2571229 | 2007833 | 6562316 | 2170202 | 9267165 | (1124453) |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2322685 | 2393109 | 7255168 | 7322527 | 7091400 | 7595976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (793960) | (353260) | 6142389 | 7004719 | 1380035 | 2229587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (702230) | (1818775) | (2080000) | (2030411) | (3855530) | (4610767) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (1822534) | (1875986) | (3597471) | (3361980) | (6153696) | (6275201) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (996039) | (1654912) | 7720086 | 8934855 | (1537791) | (1060405) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 5382 |  | 37036 | 29018 | 4144 |  |
|  **Net Increase (Decrease) in Net Assets** | 1580572 | 352921 | 14319438 | 11134075 | 7733518 | (2184858) |
|  **Net Assets — Beginning of Year** | 30210892 | 29857971 | 104620330 | 93486255 | 114436913 | 116621771 |
|  **Net Assets — End of Year** | $31791464 | $30210892 | $118939768 | $104620330 | $122170431 | $114436913 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/EMERGING MARKETS**<br>**EQUITY PLUS\*** | **EQ/EMERGING MARKETS**<br>**EQUITY PLUS\*** | **EQ/EQUITY 500 INDEX\*** | **EQ/EQUITY 500 INDEX\*** | **EQ/FIDELITY INSTITUTIONAL<br>AM<sup>®</sup> LARGE CAP\*** | **EQ/FIDELITY INSTITUTIONAL<br>AM<sup>®</sup> LARGE CAP\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $108347 | $62364 | $11833741 | $12218145 | $(258908) | $(41464) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 101910 | 31484 | 159048841 | 117733348 | 35978574 | 20275332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 992686 | (12026) | 175541190 | 255786694 | (105655) | 18972318 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1202943 | 81822 | 346423772 | 385738187 | 35614011 | 39206186 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 1520776 | 800220 | 140683162 | 116430778 | 2106569 | 2301267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 238166 | (152471) | 41155535 | 25949718 | 2518976 | 5204941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (106364) | (13301) | (45172164) | (43572353) | (47589939) | (5676553) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (232682) | (157413) | (55016652) | (51824391) | (1237869) | (1341782) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 1419896 | 477035 | 81649881 | 46983752 | (44202263) | 487873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 3640 | 4147 | 237714 | 378244 | 1183 |  |
|  **Net Increase (Decrease) in Net Assets** | 2626479 | 563004 | 428311367 | 433100183 | (8587069) | 39694059 |
|  **Net Assets — Beginning of Year** | 2941548 | 2378544 | 2013972550 | 1580872367 | 204239264 | 164545205 |
|  **Net Assets — End of Year** | $5568027 | $2941548 | $2442283917 | $2013972550 | $195652195 | $204239264 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/FRANKLIN RISING<br>DIVIDENDS\*** | **EQ/FRANKLIN RISING<br>DIVIDENDS\*** | **EQ/GLOBAL EQUITY<br>MANAGED VOLATILITY\*** | **EQ/GLOBAL EQUITY<br>MANAGED VOLATILITY\*** | **EQ/GOLDMAN SACHS<br>MID CAP VALUE\*** | **EQ/GOLDMAN SACHS<br>MID CAP VALUE\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $587600 | $649994 | $783247 | $1364887 | $199109 | $115372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 7818936 | 7472538 | 19596160 | 19664342 | 2103881 | 1681907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 2748737 | 1191648 | 6152252 | (4224000) | (400545) | 880884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 11155273 | 9314180 | 26531659 | 16805229 | 1902445 | 2678163 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 5079834 | 5384726 | 3907809 | 4023488 | 1690214 | 1632976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (1308012) | (2684101) | (5692007) | (4304056) | 183660 | 338343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (2408379) | (2405370) | (4162060) | (4628833) | (854143) | (321285) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (2340222) | (2318762) | (4274562) | (4269712) | (610979) | (623905) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (976779) | (2023507) | (10220820) | (9179113) | 408752 | 1026129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 21420 | 11975 |  |  | 12846 |  |
|  **Net Increase (Decrease) in Net Assets** | 10199914 | 7302648 | 16310839 | 7626116 | 2324043 | 3704292 |
|  **Net Assets — Beginning of Year** | 97160328 | 89857680 | 146838808 | 139212692 | 21113732 | 17409440 |
|  **Net Assets — End of Year** | $107360242 | $97160328 | $163149647 | $146838808 | $23437775 | $21113732 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/GROWTH STRATEGY\*** | **EQ/GROWTH STRATEGY\*** | **EQ/INTERMEDIATE<br>CORPORATE BOND\*<sup>(a)</sup>** | **EQ/INTERMEDIATE<br>CORPORATE BOND\*<sup>(a)</sup>** | **EQ/INTERMEDIATE<br>GOVERNMENT BOND\*** | **EQ/INTERMEDIATE<br>GOVERNMENT BOND\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1882134 | $2291076 | $55557 | $3671 | $1430541 | $1084696 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 9886857 | 6100403 | 22932 | 837 | (451008) | (545988) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (707352) | 2490048 | (25562) | (5609) | 1720509 | 451637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 11061639 | 10881527 | 52927 | (1101) | 2700042 | 990345 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 5375968 | 5930772 | 316555 | 60655 | 4024437 | 4082312 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (2025738) | (2507056) | 721918 | 14717 | 4702404 | 1106740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (4316238) | (2884397) |  |  | (4525065) | (2174452) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (2112895) | (2302046) | (32567) | (2702) | (3115043) | (3128646) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (3078903) | (1762727) | 1005906 | 72670 | 1086733 | (114046) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP |  |  | 1713 | 54 | 3214 |  |
|  **Net Increase (Decrease) in Net Assets** | 7982736 | 9118800 | 1060546 | 71623 | 3789989 | 876299 |
|  **Net Assets — Beginning of Year or Period** | 97474130 | 88355330 | 71623 |  | 49900497 | 49024198 |
|  **Net Assets — End of Year or Period** | $105456866 | $97474130 | $1132169 | $71623 | $53690486 | $49900497 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

<sup>(a)</sup> Units were made available on May 13, 2024.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/INTERNATIONAL CORE<br>MANAGED VOLATILITY\*** | **EQ/INTERNATIONAL CORE<br>MANAGED VOLATILITY\*** | **EQ/INTERNATIONAL EQUITY<br>INDEX\*** | **EQ/INTERNATIONAL EQUITY<br>INDEX\*** | **EQ/INTERNATIONAL<br>MANAGED VOLATILITY\*** | **EQ/INTERNATIONAL<br>MANAGED VOLATILITY\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets**<br> **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $762477 | $1199709 | $13732700 | $9445053 | $190935 | $200135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 6290060 | 3639795 | 16264333 | 9385985 | 444937 | 160614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 8066982 | (3042911) | 77485451 | (2969504) | 1331794 | (164362) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 15119519 | 1796593 | 107482484 | 15861534 | 1967666 | 196387 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2022333 | 2013102 | 28862015 | 25031600 | 145039 | 154821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (1484857) | 312139 | (11006997) | (2795329) | 94983 | 92656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (1552433) | (1422550) | (12483640) | (10884253) | (118367) | (65992) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (1763642) | (1771261) | (16631116) | (17374818) | (192323) | (189347) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (2778599) | (868570) | (11259738) | (6022800) | (70668) | (7862) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | (15442) |  | 129987 | 101354 | 4 |  |
|  **Net Increase (Decrease) in Net Assets** | 12325478 | 928023 | 96352733 | 9940088 | 1897002 | 188525 |
|  **Net Assets — Beginning of Year** | 59413488 | 58485465 | 357887377 | 347947289 | 7634289 | 7445764 |
|  **Net Assets — End of Year** | $71738966 | $59413488 | $454240110 | $357887377 | $9531291 | $7634289 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/INTERNATIONAL VALUE<br>MANAGED VOLATILITY\*** | **EQ/INTERNATIONAL VALUE<br>MANAGED VOLATILITY\*** | **EQ/INVESCO**<br>**COMSTOCK\*** | **EQ/INVESCO**<br>**COMSTOCK\*** | **EQ/INVESCO GLOBAL\*** | **EQ/INVESCO GLOBAL\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets**<br> **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1653998 | $1650291 | $552261 | $572878 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 5975198 | 4969918 | 5333199 | 4938665 | 654173 | 216619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 11709886 | (5658894) | 1608399 | 273850 | (140851) | 117667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 19339082 | 961315 | 7493859 | 5785393 | 513322 | 334286 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 3071148 | 3023495 | 2215975 | 1985091 | 916588 | 754453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (2838142) | (1296364) | (180183) | (419237) | 36051 | 33434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (2716830) | (1868541) | (978637) | (1475807) | (122424) | (25944) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (2689981) | (2818985) | (924264) | (878367) | (145238) | (118558) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (5173805) | (2960395) | 132891 | (788320) | 684977 | 643385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | (23147) |  | 992 |  | 7827 | 9087 |
|  **Net Increase (Decrease) in Net Assets** | 14142130 | (1999080) | 7627742 | 4997073 | 1206126 | 986758 |
|  **Net Assets — Beginning of Year** | 76037953 | 78037033 | 44683440 | 39686367 | 2917712 | 1930954 |
|  **Net Assets — End of Year** | $90180083 | $76037953 | $52311182 | $44683440 | $4123838 | $2917712 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/INVESCO GLOBAL<br>REAL ASSETS\*** | **EQ/INVESCO GLOBAL<br>REAL ASSETS\*** | **EQ/JANUS ENTERPRISE\*** | **EQ/JANUS ENTERPRISE\*** | **EQ/JPMORGAN GROWTH<br>STOCK\*** | **EQ/JPMORGAN GROWTH<br>STOCK\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1366529 | $1085446 | $(215215) | $(204907) | $(534574) | $(479866) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 2434752 | 188289 | 11362789 | 10036289 | 53706979 | 22068295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 3999908 | (1064999) | (2973402) | 3368823 | (15238460) | 45730853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 7801189 | 208736 | 8174172 | 13200205 | 37933945 | 67319282 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2494095 | 3624346 | 3853052 | 4405653 | 14368155 | 13003102 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 1008439 | (2869691) | (1639570) | (2645562) | (8155144) | (2588854) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (1384017) | (1498530) | (3381663) | (2974695) | (7298844) | (6445823) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (1039650) | (1070216) | (2572850) | (2556050) | (5539256) | (5420702) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 1078867 | (1814091) | (3741031) | (3770654) | (6625089) | (1452277) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 4105 | 3690 | 208483 | (190599) | 62013 |  |
|  **Net Increase (Decrease) in Net Assets** | 8884161 | (1601665) | 4641624 | 9238952 | 31370869 | 65867005 |
|  **Net Assets — Beginning of Year** | 48927478 | 50529143 | 106179803 | 96940851 | 267355865 | 201488860 |
|  **Net Assets — End of Year** | $57811639 | $48927478 | $110821427 | $106179803 | $298726734 | $267355865 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/JPMORGAN VALUE<br>OPPORTUNITIES\*** | **EQ/JPMORGAN VALUE<br>OPPORTUNITIES\*** | **EQ/LARGE CAP CORE<br>MANAGED VOLATILITY\*** | **EQ/LARGE CAP CORE<br>MANAGED VOLATILITY\*** | **EQ/LARGE CAP GROWTH<br>INDEX\*** | **EQ/LARGE CAP GROWTH<br>INDEX\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1367093 | $1254467 | $365403 | $441286 | $(1389689) | $(1099622) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 13588023 | 18364467 | 7904577 | 9712312 | 58826618 | 45237886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 6770533 | (1386240) | (2614984) | 237246 | 11024486 | 52236036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 21725649 | 18232694 | 5654996 | 10390844 | 68461415 | 96374300 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 10633555 | 8699988 | 1266947 | 1199929 | 20044116 | 16492415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 2678339 | 1538355 | (603797) | (1139558) | (3204497) | 9833834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (3223082) | (3494426) | (467761) | (1200417) | (13046009) | (12472985) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (3653298) | (3266004) | (1071294) | (1045972) | (8097173) | (7239179) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 6435514 | 3477913 | (875905) | (2186018) | (4303563) | 6614085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 38614 |  | 1856 |  | 171130 |  |
|  **Net Increase (Decrease) in Net Assets** | 28199777 | 21710607 | 4780947 | 8204826 | 64328982 | 102988385 |
|  **Net Assets — Beginning of Year** | 138860718 | 117150111 | 53397890 | 45193064 | 403687005 | 300698620 |
|  **Net Assets — End of Year** | $167060495 | $138860718 | $58178837 | $53397890 | $468015987 | $403687005 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/LARGE CAP GROWTH<br>MANAGED VOLATILITY\*** | **EQ/LARGE CAP GROWTH<br>MANAGED VOLATILITY\*** | **EQ/LARGE CAP VALUE<br>INDEX\*** | **EQ/LARGE CAP VALUE<br>INDEX\*** | **EQ/LARGE CAP VALUE<br>MANAGED VOLATILITY\*** | **EQ/LARGE CAP VALUE<br>MANAGED VOLATILITY\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $(1268387) | $(227305) | $796256 | $828363 | $3952417 | $4744621 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 72025414 | 61022138 | 5714847 | 5049064 | 52097278 | 57588090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (26543223) | 42739981 | 3505863 | 1574555 | (14636226) | (8595906) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 44213804 | 103534814 | 10016966 | 7451982 | 41413469 | 53736805 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 7674666 | 7838262 | 6383724 | 5735292 | 12306381 | 12953794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (12363795) | (15508862) | 205629 | 2088557 | (10723436) | (10626250) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (13900921) | (11954681) | (1041453) | (1912826) | (13614950) | (15560355) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (9327515) | (9386715) | (1785754) | (1606014) | (15232544) | (15702958) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (27917565) | (29011996) | 3762146 | 4305009 | (27264549) | (28935769) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | (584882) |  | 52865 | 29401 | (317776) |  |
|  **Net Increase (Decrease) in Net Assets** | 15711357 | 74522818 | 13831977 | 11786392 | 13831144 | 24801036 |
|  **Net Assets — Beginning of Year** | 436262394 | 361739576 | 65817282 | 54030890 | 427305654 | 402504618 |
|  **Net Assets — End of Year** | $451973751 | $436262394 | $79649259 | $65817282 | $441136798 | $427305654 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/LAZARD EMERGING<br>MARKETS EQUITY\*** | **EQ/LAZARD EMERGING<br>MARKETS EQUITY\*** | **EQ/LONG-TERM<br>BOND\*<sup>(a)</sup>** | **EQ/LONG-TERM<br>BOND\*<sup>(a)</sup>** | **EQ/LOOMIS SAYLES<br>GROWTH\*** | **EQ/LOOMIS SAYLES<br>GROWTH\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $3061492 | $2564469 | $47522 | $33119 | $(187189) | $(157427) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 4792096 | 4054931 | (22972) | (3526) | 11203517 | 19275422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 19134160 | (2093286) | 28894 | (95350) | 1169011 | 5167866 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 26987748 | 4526114 | 53444 | (65757) | 12185339 | 24285861 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2612907 | 2898497 | 3103746 | 11365 | 4914091 | 4276720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 87044 | (2550676) | (31054) | 973115 | 2893432 | (3763572) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (2305565) | (2207295) |  |  | (2679701) | (2432588) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (1213899) | (1244060) | (201857) | (79777) | (2059702) | (1952519) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (819513) | (3103534) | 2870835 | 904703 | 3068120 | (3871959) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP |  |  | 2572 | 799 | 23692 | 18224 |
|  **Net Increase (Decrease) in Net Assets** | 26168235 | 1422580 | 2926851 | 839745 | 15277151 | 20432126 |
|  **Net Assets — Beginning of Year or Period** | 65243558 | 63820978 | 839745 |  | 94169372 | 73737246 |
|  **Net Assets — End of Year or Period** | $91411793 | $65243558 | $3766596 | $839745 | $109446523 | $94169372 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

<sup>(a)</sup> Units were made available on May 13, 2024.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MFS INTERNATIONAL**<br>**GROWTH\*** | **EQ/MFS INTERNATIONAL**<br>**GROWTH\*** | **EQ/MFS INTERNATIONAL**<br>**INTRINSIC VALUE\*** | **EQ/MFS INTERNATIONAL**<br>**INTRINSIC VALUE\*** | **EQ/MFS MID CAP FOCUSED**<br>**GROWTH\*** | **EQ/MFS MID CAP FOCUSED**<br>**GROWTH\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1104866 | $705885 | $1983393 | $1896068 | $(121841) | $(113829) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 13141422 | 7418489 | 14340715 | 13682358 | 12407608 | 9157270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 10758151 | 1425706 | 29590942 | (5839235) | (8455430) | (62152) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 25004439 | 9550080 | 45915050 | 9739191 | 3830337 | 8981289 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 7514463 | 6214521 | 7807966 | 8075857 | 4264031 | 4195676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (1258584) | (2153185) | (1634706) | (10941356) | (146621) | 142984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (2966797) | (2803708) | (5227633) | (4305962) | (1603059) | (2184734) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (2776074) | (2559979) | (2859896) | (2780219) | (1491206) | (1421758) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 513008 | (1302351) | (1914269) | (9951680) | 1023145 | 732168 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 194280 | 26459 | 22742 | 21725 | (21202) | 58538 |
|  **Net Increase (Decrease) in Net Assets** | 25711727 | 8274188 | 44023523 | (190764) | 4832280 | 9771995 |
|  **Net Assets — Beginning of Year** | 120492317 | 112218129 | 141327070 | 141517834 | 72611738 | 62839743 |
|  **Net Assets — End of Year** | $146204044 | $120492317 | $185350593 | $141327070 | $77444018 | $72611738 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MFS TECHNOLOGY\*** | **EQ/MFS TECHNOLOGY\*** | **EQ/MFS UTILITIES<br>SERIES\*** | **EQ/MFS UTILITIES<br>SERIES\*** | **EQ/MID CAP INDEX\*** | **EQ/MID CAP INDEX\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $(237697) | $(187827) | $178045 | $81241 | $1621017 | $1547256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 23720259 | 19669620 | 221479 | 93717 | 18687635 | 21104865 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (526794) | 12177026 | 448813 | 351993 | (4493161) | 5512326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 22955768 | 31658819 | 848337 | 526951 | 15815491 | 28164447 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 9812827 | 7444696 | 866567 | 715271 | 21625959 | 16907550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (24075) | 13808904 | 479845 | 127372 | (2505103) | (7815809) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (3991612) | (3037952) | (141492) | (81434) | (5216399) | (6421377) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (2812078) | (2342224) | (114211) | (92347) | (7521956) | (8581414) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 2985062 | 15873424 | 1090709 | 668862 | 6382501 | (5911050) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 10038 | 35295 | 2187 | 5347 | 417784 | 55015 |
|  **Net Increase (Decrease) in Net Assets** | 25950868 | 47567538 | 1941233 | 1201160 | 22615776 | 22308412 |
|  **Net Assets — Beginning of Year** | 129485153 | 81917615 | 5468045 | 4266885 | 242324417 | 220016005 |
|  **Net Assets — End of Year** | $155436021 | $129485153 | $7409278 | $5468045 | $264940193 | $242324417 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MID CAP VALUE<br>MANAGED VOLATILITY\*** | **EQ/MID CAP VALUE<br>MANAGED VOLATILITY\*** | **EQ/MODERATE<br>ALLOCATION\*** | **EQ/MODERATE<br>ALLOCATION\*** | **EQ/MODERATE GROWTH<br>STRATEGY\*** | **EQ/MODERATE GROWTH<br>STRATEGY\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1571669 | $1992035 | $13324706 | $15332054 | $3169365 | $3835311 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 17537904 | 28401261 | 31487081 | 20305548 | 13477997 | 10068025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (10484506) | (9258883) | 19852625 | 15813807 | (1051326) | 1236256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 8625067 | 21134413 | 64664412 | 51451409 | 15596036 | 15139592 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 6069773 | 6347693 | 39750747 | 41578987 | 9025702 | 9961611 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (3300455) | (6118052) | (20968924) | (20434909) | (4356580) | (4441793) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (6591696) | (7325470) | (26556246) | (36265495) | (11290881) | (5776139) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (6556173) | (6889322) | (45352530) | (47162691) | (4561323) | (4891099) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (10378551) | (13985151) | (53126953) | (62284108) | (11183082) | (5147420) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 472 |  | 89007 | 124463 |  |  |
|  **Net Increase (Decrease) in Net Assets** | (1753012) | 7149262 | 11626466 | (10708236) | 4412954 | 9992172 |
|  **Net Assets — Beginning of Year** | 200632841 | 193483579 | 700134120 | 710842356 | 153501653 | 143509481 |
|  **Net Assets — End of Year** | $198879829 | $200632841 | $711760586 | $700134120 | $157914607 | $153501653 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MODERATE-PLUS<br>ALLOCATION\*** | **EQ/MODERATE-PLUS<br>ALLOCATION\*** | **EQ/MONEY MARKET\*** | **EQ/MONEY MARKET\*** | **EQ/MORGAN STANLEY<br>SMALL CAP GROWTH\*** | **EQ/MORGAN STANLEY<br>SMALL CAP GROWTH\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $9558136 | $11644510 | $18705039 | $21090007 | $73505 | $(42144) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 36231757 | 23345181 | (99711) | 130611 | (649767) | (4384900) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 11183900 | 14881968 | (229676) | (40785) | 3432557 | 11037500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 56973793 | 49871659 | 18375652 | 21179833 | 2856295 | 6610456 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 28762026 | 28308252 | 159706429 | 146040557 | 3296689 | 3164953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (11673920) | (7143541) | 65018182 | (13776918) | (1181762) | (3885375) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (21232127) | (17207189) | (162275270) | (129321475) | (1088225) | (914760) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (18640526) | (18370008) | (25987452) | (22993703) | (1126294) | (1060274) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (22784547) | (14412486) | 36461889 | (20051539) | (99592) | (2695456) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 54816 | 57026 | 2507217 | 894178 | 33301 | 23510 |
|  **Net Increase (Decrease) in Net Assets** | 34244062 | 35516199 | 57344758 | 2022472 | 2790004 | 3938510 |
|  **Net Assets — Beginning of Year** | 513083794 | 477567595 | 474880650 | 472858178 | 40366704 | 36428194 |
|  **Net Assets — End of Year** | $547327856 | $513083794 | $532225408 | $474880650 | $43156708 | $40366704 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/PIMCO GLOBAL<br>REAL RETURN\*** | **EQ/PIMCO GLOBAL<br>REAL RETURN\*** | **EQ/PIMCO REAL**<br>**RETURN\*** | **EQ/PIMCO REAL**<br>**RETURN\*** | **EQ/PIMCO TOTAL RETURN<br>ESG\*** | **EQ/PIMCO TOTAL RETURN<br>ESG\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $15610 | $4621 | $1147715 | $1246489 | $3353530 | $3156559 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 3306 | (29204) | (949969) | 346797 | (1718020) | (1936435) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 38246 | 23537 | 2524040 | (980138) | 4792757 | 133958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 57162 | (1046) | 2721786 | 613148 | 6428267 | 1354082 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 299413 | 317602 | 2722807 | 2614608 | 5272397 | 5466382 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (67612) | (33430) | 923184 | (30546) | 2646423 | 679330 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (105412) | (4821) | (1293743) | (951047) | (3019533) | (2033013) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (68160) | (59948) | (1251921) | (1180543) | (3031058) | (2993125) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 58229 | 219403 | 1100327 | 452472 | 1868229 | 1119574 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 1528 | 1240 | 5703 |  | 23240 | 9014 |
|  **Net Increase (Decrease) in Net Assets** | 116919 | 219597 | 3827816 | 1065620 | 8319736 | 2482670 |
|  **Net Assets — Beginning of Year** | 924207 | 704610 | 34788236 | 33722616 | 75989570 | 73506900 |
|  **Net Assets — End of Year** | $1041126 | $924207 | $38616052 | $34788236 | $84309306 | $75989570 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/PIMCO ULTRA SHORT<br>BOND\*** | **EQ/PIMCO ULTRA SHORT<br>BOND\*** | **EQ/QUALITY BOND PLUS\*** | **EQ/QUALITY BOND PLUS\*** | **EQ/SMALL COMPANY<br>INDEX\*** | **EQ/SMALL COMPANY<br>INDEX\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $2139935 | $2207546 | $1245436 | $1023163 | $1255105 | $1854742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 212611 | 124376 | (755577) | (506618) | 5447966 | 10161771 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (102164) | 67266 | 1862995 | (30671) | 13956170 | 4421158 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 2250382 | 2399188 | 2352854 | 485874 | 20659241 | 16437671 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 3200969 | 2949838 | 2544205 | 2456266 | 10843471 | 12594698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 3832137 | 7597086 | 1412741 | 2324809 | (6752735) | (3052800) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (2967731) | (1099508) | (1441700) | (1688548) | (3025623) | (6079128) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (1812498) | (1718161) | (2208894) | (2283540) | (3669598) | (3549073) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 2252877 | 7729255 | 306352 | 808987 | (2604485) | (86303) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 7175 | 5184 |  |  | 53573 | 26772 |
|  **Net Increase (Decrease) in Net Assets** | 4510434 | 10133627 | 2659206 | 1294861 | 18108329 | 16378140 |
|  **Net Assets — Beginning of Year** | 50912855 | 40779228 | 38029750 | 36734889 | 170463317 | 154085177 |
|  **Net Assets — End of Year** | $55423289 | $50912855 | $40688956 | $38029750 | $188571646 | $170463317 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/T. ROWE PRICE HEALTH<br>SCIENCES\*** | **EQ/T. ROWE PRICE HEALTH<br>SCIENCES\*** | **EQ/VALUE EQUITY\*** | **EQ/VALUE EQUITY\*** | **EQ/WELLINGTON ENERGY\*** | **EQ/WELLINGTON ENERGY\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | $— | $2744656 | $1551251 | $552216 | $559031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 48817 | 1765344 | 9220345 | 14329711 | 1069342 | 1599601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 3230153 | (1523642) | 11394413 | (139394) | 938767 | (335953) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 3278970 | 241702 | 23359414 | 15741568 | 2560325 | 1822679 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2508102 | 2589824 | 6777085 | 7333466 | 892749 | 1146335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (307188) | (4251639) | (3148395) | (12327050) | 222055 | (5995767) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (354025) | (288497) | (7391679) | (6466604) | (462949) | (706136) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (511702) | (485376) | (6065611) | (6365286) | (436547) | (492478) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 1335187 | (2435688) | (9828600) | (17825474) | 215308 | (6048046) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 17440 | 14352 | 4827 |  |  |  |
|  **Net Increase (Decrease) in Net Assets** | 4631597 | (2179634) | 13535641 | (2083906) | 2775633 | (4225367) |
|  **Net Assets — Beginning of Year** | 16025993 | 18205627 | 224024174 | 226108080 | 20347310 | 24572677 |
|  **Net Assets — End of Year** | $20657590 | $16025993 | $237559815 | $224024174 | $23122943 | $20347310 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQUITABLE CONSERVATIVE<br>GROWTH MF/ETF\*** | **EQUITABLE CONSERVATIVE<br>GROWTH MF/ETF\*** | **EQUITABLE**<br>**GROWTH**<br>**MF/ETF\*<sup>(a)</sup>** | **EQUITABLE**<br>**GROWTH**<br>**MF/ETF\*<sup>(a)</sup>** | **EQUITABLE<br>MODERATE<br>GROWTH**<br>**MF/ETF\*<sup>(a)</sup>** | **EQUITABLE<br>MODERATE<br>GROWTH**<br>**MF/ETF\*<sup>(a)</sup>** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $610496 | $507983 | $31474 | $7933 | $14092 | $2737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1045695 | 302286 | 104719 | 461 | 15720 | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 275423 | 342644 | 72605 | (7583) | 32938 | (2509) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1931614 | 1152913 | 208798 | 811 | 62750 | 266 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 1039346 | 1241643 | 1716625 | 561065 | 330104 | 111019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (1288073) | (803739) | (99153) | 225888 | 174628 | 33194 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (261328) | (220532) | (54) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (632197) | (713456) | (103931) | (14050) | (48616) | (4445) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (1142252) | (496084) | 1513487 | 772903 | 456116 | 139768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 9160 | 4288 | 2061 | 661 | 977 | 84 |
|  **Net Increase (Decrease) in Net Assets** | 798522 | 661117 | 1724346 | 774375 | 519843 | 140118 |
|  **Net Assets — Beginning of Year or Period** | 16542036 | 15880919 | 774375 |  | 140118 |  |
|  **Net Assets — End of Year or Period** | $17340558 | $16542036 | $2498721 | $774375 | $659961 | $140118 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

<sup>(a)</sup> Units were made available on May 13, 2024.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **FIDELITY<sup>®</sup> VIP ASSET<br>MANAGER 70%** | **FIDELITY<sup>®</sup> VIP ASSET<br>MANAGER 70%** | **FIDELITY<sup>®</sup> VIP EQUITY-**<br>**INCOME PORTFOLIO** | **FIDELITY<sup>®</sup> VIP EQUITY-**<br>**INCOME PORTFOLIO** | **FIDELITY<sup>®</sup> VIP**<br>**GOVERNMENT MONEY**<br>**MARKET PORTFOLIO** | **FIDELITY<sup>®</sup> VIP**<br>**GOVERNMENT MONEY**<br>**MARKET PORTFOLIO** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $104451 | $80486 | $154883 | $148198 | $253983 | $267614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 369281 | 114711 | 876801 | 809820 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 474607 | 200847 | 590843 | 240070 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 948339 | 396044 | 1622527 | 1198088 | 253983 | 267613 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 1480979 | 1123636 | 264580 | 195002 | 117881 | 376394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (424583) | 8582 | (1179249) | 627659 | 898560 | 8058059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (99767) | (20956) | (104859) | (8822) | (4447962) | (629634) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (247557) | (203597) | (132558) | (151395) | (87352) | (81638) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 709072 | 907665 | (1152086) | 662444 | (3518873) | 7723181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 3644 | 4127 |  |  | 5174 | 2114 |
|  **Net Increase (Decrease) in Net Assets** | 1661055 | 1307836 | 470441 | 1860532 | (3259716) | 7992908 |
|  **Net Assets — Beginning of Year** | 4612253 | 3304417 | 9246002 | 7385470 | 10268663 | 2275755 |
|  **Net Assets — End of Year** | $6273308 | $4612253 | $9716443 | $9246002 | $7008947 | $10268663 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **FIDELITY<sup>®</sup> VIP HIGH**<br>**INCOME PORTFOLIO** | **FIDELITY<sup>®</sup> VIP HIGH**<br>**INCOME PORTFOLIO** | **FIDELITY<sup>®</sup> VIP INVESTMENT**<br>**GRADE BOND PORTFOLIO** | **FIDELITY<sup>®</sup> VIP INVESTMENT**<br>**GRADE BOND PORTFOLIO** | **FIDELITY<sup>®</sup> VIP MID CAP**<br>**PORTFOLIO** | **FIDELITY<sup>®</sup> VIP MID CAP**<br>**PORTFOLIO** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $348737 | $268182 | $880762 | $676655 | $74452 | $119226 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | (20559) | (98607) | (424366) | (519616) | 6457103 | 7952392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 146799 | 185004 | 1097527 | 144281 | (560719) | (513543) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 474977 | 354579 | 1553923 | 301320 | 5970836 | 7558075 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 180697 | 227535 | 1570220 | 1148339 | 3727095 | 3220597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 631277 | 205501 | 3245070 | 69823 | (590204) | 1095514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (135229) | (67711) | (670551) | (678675) | (1530687) | (1962026) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (49481) | (47790) | (354491) | (332421) | (1150211) | (1115675) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 627264 | 317535 | 3790248 | 207066 | 455993 | 1238410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 2484 | 2221 | (9142) | 4352 | 8640 |  |
|  **Net Increase (Decrease) in Net Assets** | 1104725 | 674335 | 5335029 | 512738 | 6435469 | 8796485 |
|  **Net Assets — Beginning of Year** | 4275113 | 3600778 | 20401517 | 19888779 | 52574064 | 43777579 |
|  **Net Assets — End of Year** | $5379838 | $4275113 | $25736546 | $20401517 | $59009533 | $52574064 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **FIDELITY<sup>®</sup> VIP VALUE**<br>**PORTFOLIO** | **FIDELITY<sup>®</sup> VIP VALUE**<br>**PORTFOLIO** | **FIDELITY<sup>®</sup> VIP VALUE**<br>**STRATEGIES PORTFOLIO** | **FIDELITY<sup>®</sup> VIP VALUE**<br>**STRATEGIES PORTFOLIO** | **FRANKLIN SMALL CAP<br>VALUE VIP FUND** | **FRANKLIN SMALL CAP<br>VALUE VIP FUND** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $181959 | $121583 | $9809 | $10105 | $282454 | $225297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1248232 | 1229533 | 49807 | 205251 | 2262966 | 111901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 12961 | (532367) | 33557 | (84159) | (270327) | 2758389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1443152 | 818749 | 93173 | 131197 | 2275093 | 3095587 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 4173265 | 3214182 | 47051 | 89184 | 2745226 | 2390148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (137585) | 1365770 | (80894) | (141512) | (617849) | (2624804) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (224609) | (323074) | (19341) | (16532) | (781034) | (677664) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (655640) | (416984) | (12667) | (20634) | (659053) | (655529) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 3155431 | 3839894 | (65851) | (89494) | 687290 | (1567849) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 13167 |  | 912 | 661 | 314 | 11254 |
|  **Net Increase (Decrease) in Net Assets** | 4611750 | 4658643 | 28234 | 42364 | 2962697 | 1538992 |
|  **Net Assets — Beginning of Year** | 11034818 | 6376175 | 1254855 | 1212491 | 29067829 | 27528837 |
|  **Net Assets — End of Year** | $15646568 | $11034818 | $1283089 | $1254855 | $32030526 | $29067829 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **INVESCO V.I. DIVERSIFIED<br>DIVIDEND FUND** | **INVESCO V.I. DIVERSIFIED<br>DIVIDEND FUND** | **JANUS HENDERSON<br>BALANCED PORTFOLIO** | **JANUS HENDERSON<br>BALANCED PORTFOLIO** | **LORD ABBETT SERIES FUND<br>- BOND DEBENTURE<br>PORTFOLIO** | **LORD ABBETT SERIES FUND<br>- BOND DEBENTURE<br>PORTFOLIO** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $195719 | $212733 | $163188 | $83713 | $394572 | $252472 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1061538 | 221297 | 443587 | 260771 | 27356 | (45746) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 729751 | 1102109 | 718424 | 25384 | 32018 | 12478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1987008 | 1536139 | 1325199 | 369868 | 453946 | 219204 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 1007734 | 873022 | 4149070 | 6542839 | 2159458 | 1605730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (408470) | (1302057) | (725036) | (1013242) | 118528 | 293729 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (452514) | (275173) | (547922) | (92509) | (165256) | (32717) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (258957) | (261405) | (408282) | (248388) | (411376) | (270745) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (112207) | (965613) | 2467830 | 5188700 | 1701354 | 1595997 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 5381 | (1277) | 7482 | 4985 | 8882 | 5434 |
|  **Net Increase (Decrease) in Net Assets** | 1880182 | 569249 | 3800511 | 5563553 | 2164182 | 1820635 |
|  **Net Assets — Beginning of Year** | 12930141 | 12360892 | 7400938 | 1837385 | 4659248 | 2838613 |
|  **Net Assets — End of Year** | $14810323 | $12930141 | $11201449 | $7400938 | $6823430 | $4659248 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS<sup>®</sup> MASSACHUSETTS<br>INVESTORS GROWTH<br>STOCK PORTFOLIO** | **MFS<sup>®</sup> MASSACHUSETTS<br>INVESTORS GROWTH<br>STOCK PORTFOLIO** | **MULTIMANAGER<br>AGGRESSIVE EQUITY\*** | **MULTIMANAGER<br>AGGRESSIVE EQUITY\*** | **MULTIMANAGER<br>CORE BOND\*** | **MULTIMANAGER<br>CORE BOND\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $(33752) | $(21488) | $(2273436) | $(809162) | $1910443 | $1878880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1741408 | 1421588 | 154886687 | 124335906 | (1173698) | (863954) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (594709) | 509719 | (37753597) | 60210480 | 3102635 | (11574) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1112947 | 1909819 | 114859654 | 183737224 | 3839380 | 1003352 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 345708 | 359797 | 16142458 | 16318836 | 2687081 | 2611554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (2068722) | (450967) | (21868478) | (21895090) | (1773881) | 4596299 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (96207) | (248845) | (23938402) | (27371222) | (1457108) | (1700622) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (194570) | (215730) | (19768413) | (19902763) | (2541058) | (2660774) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (2013791) | (555745) | (49432835) | (52850239) | (3084966) | 2846457 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP |  |  | 7986 |  |  |  |
|  **Net Increase (Decrease) in Net Assets** | (900844) | 1354074 | 65434805 | 130886985 | 754414 | 3849809 |
|  **Net Assets — Beginning of Year** | 13260480 | 11906406 | 764879421 | 633992436 | 58408566 | 54558757 |
|  **Net Assets — End of Year** | $12359636 | $13260480 | $830314226 | $764879421 | $59162980 | $58408566 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MULTIMANAGER<br>TECHNOLOGY\*** | **MULTIMANAGER<br>TECHNOLOGY\*** | **NOMURA VIP HIGH<br>INCOME SERIES** | **NOMURA VIP HIGH<br>INCOME SERIES** | **PIMCO<br>COMMODITYREALRETURN<sup>®</sup><br>STRATEGY PORTFOLIO** | **PIMCO<br>COMMODITYREALRETURN<sup>®</sup><br>STRATEGY PORTFOLIO** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $(1074258) | $(978617) | $4308043 | $3461312 | $491532 | $342742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 51348017 | 47892326 | (998263) | (1136700) | (369784) | (1591672) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 26001818 | 18163719 | 1308895 | 957061 | 3022383 | 1935179 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 76275577 | 65077428 | 4618675 | 3281673 | 3144131 | 686249 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 11461525 | 11691755 | 6809430 | 5293424 | 1088243 | 1165613 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (4955077) | (13619785) | (2835945) | 9127672 | (256738) | (2374811) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (11159231) | (6916064) | (2014419) | (2002569) | (506945) | (725901) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (5995324) | (5747018) | (1983135) | (1723324) | (430932) | (428371) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (10648107) | (14591112) | (24069) | 10695203 | (106372) | (2363470) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 40973 |  | 8374 | 14862 | 3451 | 559 |
|  **Net Increase (Decrease) in Net Assets** | 65668443 | 50486316 | 4602980 | 13991738 | 3041210 | (1676662) |
|  **Net Assets — Beginning of Year** | 311331496 | 260845180 | 65470898 | 51479160 | 16801700 | 18478362 |
|  **Net Assets — End of Year** | $376999939 | $311331496 | $70073878 | $65470898 | $19842910 | $16801700 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **T. ROWE PRICE**<br>**BLUE CHIP**<br>**GROWTH PORTFOLIO** | **T. ROWE PRICE**<br>**BLUE CHIP**<br>**GROWTH PORTFOLIO** | **T. ROWE PRICE**<br>**EQUITY INCOME<br>PORTFOLIO** | **T. ROWE PRICE**<br>**EQUITY INCOME<br>PORTFOLIO** | **T. ROWE PRICE**<br>**MID-CAP**<br>**GROWTH PORTFOLIO** | **T. ROWE PRICE**<br>**MID-CAP**<br>**GROWTH PORTFOLIO** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | $— | $347830 | $368695 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1103793 | 407651 | 3256893 | 2073296 | 284412 | 133341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 154512 | 255432 | 101922 | 165424 | (210021) | (76048) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1258305 | 663083 | 3706645 | 2607415 | 74391 | 57293 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2903392 | 1663953 | 1489548 | 1555967 | 725703 | 399645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 1361119 | 835273 | (804306) | 570371 | 126337 | 306928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (205302) | (49796) | (706999) | (570630) | (2443) | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (370906) | (159367) | (707928) | (683727) | (89584) | (38720) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 3688303 | 2290063 | (729685) | 871981 | 760013 | 667844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 18314 | 5255 | 6918 | 6073 | 5030 | 3088 |
|  **Net Increase (Decrease) in Net Assets** | 4964922 | 2958401 | 2983878 | 3485469 | 839434 | 728225 |
|  **Net Assets — Beginning of Year** | 3968041 | 1009640 | 27069478 | 23584009 | 1338881 | 610656 |
|  **Net Assets — End of Year** | $8932963 | $3968041 | $30053356 | $27069478 | $2178315 | $1338881 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **TARGET 2015<br>ALLOCATION\*** | **TARGET 2015<br>ALLOCATION\*** | **TARGET 2025<br>ALLOCATION\*** | **TARGET 2025<br>ALLOCATION\*** | **TARGET 2035<br>ALLOCATION\*** | **TARGET 2035<br>ALLOCATION\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $4623 | $4268 | $239400 | $191509 | $256180 | $217421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 6214 | 19369 | 598701 | 324911 | 563212 | 465908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (120) | (7694) | 227270 | 174744 | 929904 | 540595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 10717 | 15943 | 1065371 | 691164 | 1749296 | 1223924 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners |  | 13752 | 143123 | 176757 | 518580 | 482888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (1) | (115289) | 521134 | 231851 | 408518 | 408682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (110) | (99067) | (323023) | (716865) | (373583) | (762852) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (1882) | (4643) | (264179) | (269743) | (222620) | (227092) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (1993) | (205247) | 77055 | (578000) | 330895 | (98374) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 84 | 79 | 442 | 486 | 101 |  |
|  **Net Increase (Decrease) in Net Assets** | 8808 | (189225) | 1142868 | 113650 | 2080292 | 1125550 |
|  **Net Assets — Beginning of Year** | 113066 | 302291 | 8164490 | 8050840 | 11819456 | 10693906 |
|  **Net Assets — End of Year** | $121874 | $113066 | $9307358 | $8164490 | $13899748 | $11819456 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **TARGET 2045**<br>**ALLOCATION\*** | **TARGET 2045**<br>**ALLOCATION\*** | **TARGET 2055**<br>**ALLOCATION\*** | **TARGET 2055**<br>**ALLOCATION\*** | **TEMPLETON DEVELOPING**<br>**MARKETS VIP FUND** | **TEMPLETON DEVELOPING**<br>**MARKETS VIP FUND** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $184520 | $167574 | $126393 | $97761 | $97713 | $770634 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 624266 | 414882 | 396176 | 244014 | 796739 | (378956) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 791133 | 550395 | 770498 | 618272 | 8566156 | 1060887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1599919 | 1132851 | 1293067 | 960047 | 9460608 | 1452565 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 755917 | 1008693 | 518708 | 567880 | 1797330 | 1625458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (732840) | 289070 | (84072) | (402602) | 1041178 | (828586) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (435259) | (364267) | (104036) | (148361) | (543550) | (514884) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (184550) | (185706) | (138491) | (134143) | (584748) | (537163) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (596732) | 747790 | 192109 | (117226) | 1710210 | (255175) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP |  |  | 497 |  | 3192 | 16569 |
|  **Net Increase (Decrease) in Net Assets** | 1003187 | 1880641 | 1485673 | 842821 | 11174010 | 1213959 |
|  **Net Assets — Beginning of Year** | 10091904 | 8211263 | 7449845 | 6607024 | 20718633 | 19504674 |
|  **Net Assets — End of Year** | $11095091 | $10091904 | $8935518 | $7449845 | $31892643 | $20718633 |

---

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

\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **TEMPLETON<br>GLOBAL BOND**<br>**VIP FUND** | **TEMPLETON<br>GLOBAL BOND**<br>**VIP FUND** | **VANECK VIP**<br>**GLOBAL**<br>**RESOURCES**<br>**FUND** | **VANECK VIP**<br>**GLOBAL**<br>**RESOURCES**<br>**FUND** | **VANGUARD**<br>**VARIABLE**<br>**INSURANCE FUND<br>EQUITY INDEX<br>PORTFOLIO** | **VANGUARD**<br>**VARIABLE**<br>**INSURANCE FUND<br>EQUITY INDEX<br>PORTFOLIO** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $(48654) | $(46925) | $380671 | $333612 | $88542 | $116096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | (996990) | (1144973) | 360184 | 484516 | 1058941 | 1906592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 6850437 | (3482450) | 4526240 | (1274619) | 2015277 | 1622993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 5804793 | (4674348) | 5267095 | (456491) | 3162760 | 3645681 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 2563498 | 2690389 | 929985 | 934022 | 227632 | 292749 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 506336 | 2097754 | 1492326 | (430718) | (457863) | (572346) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (1224716) | (1349215) | (382793) | (717894) | (100767) | (275707) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (1522157) | (1457844) | (396359) | (385682) | (92640) | (101241) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 322961 | 1981084 | 1643159 | (600272) | (423638) | (656545) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account FP | 9132 | 5905 | 952 | 398 |  |  |
|  **Net Increase (Decrease) in Net Assets** | 6136886 | (2687359) | 6911206 | (1056365) | 2739122 | 2989136 |
|  **Net Assets — Beginning of Year** | 37034222 | 39721581 | 13826817 | 14883182 | 18625737 | 15636601 |
|  **Net Assets — End of Year** | $43171108 | $37034222 | $20738023 | $13826817 | $21364859 | $18625737 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  |<br>**Share Class\*\*** | **Units<br>Issued<br>(000's)** | **Units<br>Redeemed<br>(000's)** | **Net<br>Increase**<br>**(Decrease)<br>(000's)** | **Units<br>Issued<br>(000's)** | **Units<br>Redeemed<br>(000's)** | **Net<br>Increase**<br>**(Decrease)<br>(000's)** |
|  1290 VT CONVERTIBLE SECURITIES | CLASS IB | 149 | (60) | 89 | 99 | (42) | 57 |
|  1290 VT DOUBLELINE OPPORTUNISTIC BOND | CLASS IB | 444 | (191) | 253 | 435 | (186) | 249 |
|  1290 VT EQUITY INCOME | CLASS IB | 17 | (16) | 1 | 16 | (11) | 5 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | CLASS IB | 33 | (34) | (1) | 39 | (23) | 16 |
|  1290 VT GAMCO SMALL COMPANY VALUE | CLASS IB | 384 | (218) | 166 | 260 | (128) | 132 |
|  1290 VT MULTI-ALTERNATIVE STRATEGIES | CLASS IB | 43 | (30) | 13 | 21 | (4) | 17 |
|  1290 VT NATURAL RESOURCES | CLASS IB | 118 | (98) | 20 | 69 | (51) | 18 |
|  1290 VT REAL ESTATE | CLASS IB | 92 | (39) | 53 | 84 | (19) | 65 |
|  1290 VT SMALL CAP VALUE | CLASS IB | 68 | (51) | 17 | 67 | (34) | 33 |
|  1290 VT SMARTBETA EQUITY ESG | CLASS IB | 62 | (38) | 24 | 65 | (57) | 8 |
|  1290 VT SOCIALLY RESPONSIBLE | CLASS IB | 9 | (16) | (7) | 12 | (26) | (14) |
|  AB VPS DISCOVERY VALUE PORTFOLIO | CLASS B | 3 | (3) |  | 6 | (11) | (5) |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> ASSET ALLOCATION FUND | CLASS 4 | 190 | (146) | 44 | 228 | (103) | 125 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> GLOBAL SMALL CAPITALIZATION FUND | CLASS 4 | 176 | (88) | 88 | 124 | (73) | 51 |
|  AMERICAN FUNDS INSURANCE SERIES<sup>®</sup> NEW WORLD FUND<sup>®</sup> | CLASS 4 | 473 | (277) | 196 | 476 | (300) | 176 |
|  BLACKROCK GLOBAL ALLOCATION V.I. FUND | CLASS III | 134 | (57) | 77 | 89 | (57) | 32 |
|  EQ/400 MANAGED VOLATILITY | CLASS IB | 1 | (4) | (3) | 4 | (2) | 2 |
|  EQ/500 MANAGED VOLATILITY | CLASS IB | 4 | (8) | (4) | 8 | (9) | (1) |
|  EQ/2000 MANAGED VOLATILITY | CLASS IB | 3 | (4) | (1) | 2 | (3) | (1) |
|  EQ/AB SMALL CAP GROWTH | CLASS IB | 275 | (221) | 54 | 263 | (142) | 121 |
|  EQ/AGGRESSIVE ALLOCATION | CLASS IB | 439 | (294) | 145 | 232 | (234) | (2) |
|  EQ/ALL ASSET GROWTH ALLOCATION | CLASS IB | 41 | (37) | 4 | 34 | (26) | 8 |
|  EQ/AMERICAN CENTURY MID CAP VALUE | CLASS IB | 179 | (174) | 5 | 206 | (183) | 23 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  |<br>**Share Class\*\*** | **Units<br>Issued<br>(000's)** | **Units<br>Redeemed<br>(000's)** | **Net<br>Increase**<br>**(Decrease)<br>(000's)** | **Units<br>Issued<br>(000's)** | **Units<br>Redeemed<br>(000's)** | **Net<br>Increase**<br>**(Decrease)<br>(000's)** |
|  EQ/BALANCED STRATEGY | CLASS IB | 6 | (13) | (7) | 6 | (12) | (6) |
|  EQ/CAPITAL GROUP RESEARCH | CLASS IB | 10 | (33) | (23) | 9 | (29) | (20) |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | CLASS IB | 50 | (53) | (3) | 42 | (52) | (10) |
|  EQ/COMMON STOCK INDEX | CLASS IA | 32 | (137) | (105) | 117 | (127) | (10) |
|  EQ/COMMON STOCK INDEX | CLASS IB | 669 | (382) | 287 | 664 | (302) | 362 |
|  EQ/CONSERVATIVE ALLOCATION | CLASS IB | 85 | (119) | (34) | 34 | (40) | (6) |
|  EQ/CONSERVATIVE GROWTH STRATEGY | CLASS IB | 2 | (3) | (1) | 2 | (4) | (2) |
|  EQ/CONSERVATIVE STRATEGY | CLASS IB | 1 | (2) | (1) | 2 | (3) | (1) |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | CLASS IB | 76 | (67) | 9 | 70 | (72) | (2) |
|  EQ/CORE BOND INDEX | CLASS IB | 694 | (257) | 437 | 566 | (317) | 249 |
|  EQ/CORE PLUS BOND | CLASS IA | 90 | (74) | 16 | 124 | (61) | 63 |
|  EQ/CORE PLUS BOND | CLASS IB | 239 | (95) | 144 | 117 | (85) | 32 |
|  EQ/EMERGING MARKETS EQUITY PLUS | CLASS IB | 143 | (51) | 92 | 115 | (89) | 26 |
|  EQ/EQUITY 500 INDEX | CLASS IA | 337 | (215) | 122 | 188 | (207) | (19) |
|  EQ/EQUITY 500 INDEX | CLASS IB | 4398 | (1299) | 3099 | 2900 | (1099) | 1801 |
|  EQ/FIDELITY INSTITUTIONAL AM<sup>®</sup> LARGE CAP | CLASS IB | 28 | (106) | (78) | 41 | (42) | (1) |
|  EQ/FRANKLIN RISING DIVIDENDS | CLASS IB | 248 | (136) | 112 | 224 | (184) | 40 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | CLASS IB | 14 | (32) | (18) | 8 | (26) | (18) |
|  EQ/GOLDMAN SACHS MID CAP VALUE | CLASS IB | 82 | (41) | 41 | 87 | (70) | 17 |
|  EQ/GROWTH STRATEGY | CLASS IB | 13 | (22) | (9) | 11 | (17) | (6) |
|  EQ/INTERMEDIATE CORPORATE BOND | CLASS IB | 98 | (12) | 86 | 7 | (1) | 6 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | CLASS IA | 225 | (179) | 46 | 48 | (45) | 3 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | CLASS IB | 128 | (71) | 57 | 82 | (66) | 16 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | CLASS IB | 46 | (29) | 17 | 36 | (24) | 12 |
|  EQ/INTERNATIONAL EQUITY INDEX | CLASS IA | 119 | (164) | (45) | 93 | (133) | (40) |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  |<br>**Share Class\*\*** | **Units<br>Issued<br>(000's)** | **Units<br>Redeemed<br>(000's)** | **Net<br>Increase**<br>**(Decrease)<br>(000's)** | **Units<br>Issued<br>(000's)** | **Units<br>Redeemed<br>(000's)** | **Net<br>Increase**<br>**(Decrease)<br>(000's)** |
|  EQ/INTERNATIONAL EQUITY INDEX | CLASS IB | 721 | (349) | 372 | 716 | (377) | 339 |
|  EQ/INTERNATIONAL MANAGED VOLATILITY | CLASS IB | 4 | (4) |  | 2 | (2) |  |
|  EQ/INTERNATIONAL VALUE MANAGED VOLATILITY | CLASS IB | 82 | (63) | 19 | 53 | (74) | (21) |
|  EQ/INVESCO COMSTOCK | CLASS IB | 96 | (42) | 54 | 67 | (49) | 18 |
|  EQ/INVESCO GLOBAL | CLASS IB | 58 | (28) | 30 | 45 | (19) | 26 |
|  EQ/INVESCO GLOBAL REAL ASSETS | CLASS IB | 144 | (83) | 61 | 224 | (135) | 89 |
|  EQ/JANUS ENTERPRISE | CLASS IB | 103 | (76) | 27 | 164 | (142) | 22 |
|  EQ/JPMORGAN GROWTH STOCK | CLASS IB | 534 | (370) | 164 | 392 | (314) | 78 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | CLASS IB | 557 | (247) | 310 | 527 | (188) | 339 |
|  EQ/LARGE CAP CORE MANAGED VOLATILITY | CLASS IB | 32 | (16) | 16 | 28 | (32) | (4) |
|  EQ/LARGE CAP GROWTH INDEX | CLASS IB | 650 | (279) | 371 | 693 | (271) | 422 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | CLASS IB | 35 | (55) | (20) | 58 | (48) | 10 |
|  EQ/LARGE CAP VALUE INDEX | CLASS IB | 321 | (120) | 201 | 321 | (172) | 149 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | CLASS IB | 23 | (76) | (53) | 29 | (133) | (104) |
|  EQ/LAZARD EMERGING MARKETS EQUITY | CLASS IB | 106 | (128) | (22) | 158 | (233) | (75) |
|  EQ/LONG-TERM BOND | CLASS IB | 283 | (25) | 258 | 87 | (7) | 80 |
|  EQ/LOOMIS SAYLES GROWTH | CLASS IB | 257 | (192) | 65 | 157 | (93) | 64 |
|  EQ/MFS INTERNATIONAL GROWTH | CLASS IB | 510 | (303) | 207 | 335 | (192) | 143 |
|  EQ/MFS INTERNATIONAL INTRINSIC VALUE | CLASS IB | 433 | (329) | 104 | 306 | (295) | 11 |
|  EQ/MFS MID CAP FOCUSED GROWTH | CLASS IB | 267 | (138) | 129 | 216 | (97) | 119 |
|  EQ/MFS TECHNOLOGY | CLASS IB | 732 | (418) | 314 | 541 | (241) | 300 |
|  EQ/MFS UTILITIES SERIES | CLASS IB | 110 | (60) | 50 | 70 | (28) | 42 |
|  EQ/MID CAP INDEX | CLASS IB | 784 | (305) | 479 | 575 | (369) | 206 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | CLASS IB | 34 | (47) | (13) | 28 | (40) | (12) |
|  EQ/MODERATE ALLOCATION | CLASS IA | 13 | (94) | (81) | 76 | (182) | (106) |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  |<br>**Share Class\*\*** | **Units<br>Issued<br>(000's)** | **Units<br>Redeemed<br>(000's)** | **Net<br>Increase**<br>**(Decrease)<br>(000's)** | **Units<br>Issued<br>(000's)** | **Units<br>Redeemed<br>(000's)** | **Net<br>Increase**<br>**(Decrease)<br>(000's)** |
|  EQ/MODERATE ALLOCATION | CLASS IB | 500 | (364) | 136 | 286 | (165) | 121 |
|  EQ/MODERATE GROWTH STRATEGY | CLASS IB | 14 | (56) | (42) | 13 | (34) | (21) |
|  EQ/MODERATE-PLUS ALLOCATION | CLASS IB | 796 | (654) | 142 | 750 | (446) | 304 |
|  EQ/MONEY MARKET | CLASS IA | 2722 | (2488) | 234 | 1940 | (2107) | (167) |
|  EQ/MONEY MARKET | CLASS IB | 9181 | (8770) | 411 | 9919 | (9230) | 689 |
|  EQ/MORGAN STANLEY SMALL CAP GROWTH | CLASS IB | 173 | (104) | 69 | 186 | (143) | 43 |
|  EQ/PIMCO GLOBAL REAL RETURN | CLASS IB | 35 | (30) | 5 | 28 | (19) | 9 |
|  EQ/PIMCO REAL RETURN | CLASS IB | 258 | (218) | 40 | 155 | (90) | 65 |
|  EQ/PIMCO TOTAL RETURN ESG | CLASS IB | 499 | (336) | 163 | 384 | (209) | 175 |
|  EQ/PIMCO ULTRA SHORT BOND | CLASS IB | 250 | (171) | 79 | 235 | (91) | 144 |
|  EQ/QUALITY BOND PLUS | CLASS IA | 93 | (71) | 22 | 57 | (38) | 19 |
|  EQ/QUALITY BOND PLUS | CLASS IB | 14 | (13) | 1 | 11 | (13) | (2) |
|  EQ/SMALL COMPANY INDEX | CLASS IB | 568 | (309) | 259 | 562 | (385) | 177 |
|  EQ/T. ROWE PRICE HEALTH SCIENCES | CLASS IB | 165 | (101) | 64 | 161 | (146) | 15 |
|  EQ/VALUE EQUITY | CLASS IB | 49 | (57) | (8) | 43 | (93) | (50) |
|  EQ/WELLINGTON ENERGY | CLASS IB | 455 | (417) | 38 | 286 | (811) | (525) |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF | CLASS IB | 44 | (59) | (15) | 26 | (40) | (14) |
|  EQUITABLE GROWTH MF/ETF | CLASS IB | 130 | (41) | 89 | 70 | (1) | 69 |
|  EQUITABLE MODERATE GROWTH MF/ETF | CLASS IB | 31 | (4) | 27 | 10 | (1) | 9 |
|  FIDELITY<sup>®</sup> VIP ASSET MANAGER 70% | SERVICE CLASS 2 | 104 | (49) | 55 | 86 | (23) | 63 |
|  FIDELITY<sup>®</sup> VIP EQUITY-INCOME PORTFOLIO | SERVICE CLASS 2 | 11 | (26) | (15) | 22 | (14) | 8 |
|  FIDELITY<sup>®</sup> VIP GOVERNMENT MONEY MARKET PORTFOLIO | SERVICE CLASS 2 | 140 | (492) | (352) | 558 | (124) | 434 |
|  FIDELITY<sup>®</sup> VIP HIGH INCOME PORTFOLIO | SERVICE CLASS 2 | 19 | (12) | 7 | 20 | (19) | 1 |
|  FIDELITY<sup>®</sup> VIP INVESTMENT GRADE BOND PORTFOLIO | SERVICE CLASS 2 | 133 | (101) | 32 | 118 | (150) | (32) |
|  FIDELITY<sup>®</sup> VIP MID CAP PORTFOLIO | SERVICE CLASS 2 | 159 | (76) | 83 | 134 | (81) | 53 |

---

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

------

**SEPARATE ACCOUNT FP** 

**STATEMENTS OF CHANGES IN NET ASSETS (Concluded)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  |<br>**Share Class\*\*** | **Units<br>Issued<br>(000's)** | **Units<br>Redeemed<br>(000's)** | **Net<br>Increase**<br>**(Decrease)<br>(000's)** | **Units<br>Issued<br>(000's)** | **Units<br>Redeemed<br>(000's)** | **Net<br>Increase**<br>**(Decrease)<br>(000's)** |
|  FIDELITY<sup>®</sup> VIP VALUE PORTFOLIO | SERVICE CLASS 2 | 275 | (115) | 160 | 272 | (89) | 183 |
|  FIDELITY<sup>®</sup> VIP VALUE STRATEGIES PORTFOLIO | SERVICE CLASS 2 | 1 | (2) | (1) | 6 | (6) |  |
|  FRANKLIN SMALL CAP VALUE VIP FUND | CLASS 2 | 215 | (132) | 83 | 190 | (150) | 40 |
|  INVESCO V.I. DIVERSIFIED DIVIDEND FUND | SERIES II | 54 | (55) | (1) | 61 | (75) | (14) |
|  JANUS HENDERSON BALANCED PORTFOLIO | SERVICE SHARES | 420 | (243) | 177 | 562 | (147) | 415 |
|  LORD ABBETT SERIES FUND — BOND DEBENTURE PORTFOLIO | VC SHARES | 220 | (100) | 120 | 185 | (69) | 116 |
|  MFS<sup>®</sup> MASSACHUSETTS INVESTORS GROWTH STOCK PORTFOLIO | SERVICE CLASS | 1 | (4) | (3) | 5 | (6) | (1) |
|  MULTIMANAGER AGGRESSIVE EQUITY | CLASS IA | 10 | (24) | (14) | 7 | (31) | (24) |
|  MULTIMANAGER AGGRESSIVE EQUITY | CLASS IB | 117 | (94) | 23 | 76 | (42) | 34 |
|  MULTIMANAGER CORE BOND | CLASS IB | 68 | (65) | 3 | 93 | (47) | 46 |
|  MULTIMANAGER TECHNOLOGY | CLASS IB | 306 | (180) | 126 | 266 | (149) | 117 |
|  NOMURA VIP HIGH INCOME SERIES | SERVICE CLASS | 596 | (327) | 269 | 616 | (252) | 364 |
|  PIMCO COMMODITYREALRETURN<sup>®</sup> STRATEGY PORTFOLIO | ADVISOR CLASS | 67 | (60) | 7 | 62 | (68) | (6) |
| T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO | CLASS II | 229 | (97) | 132 | 140 | (38) | 102 |
| T. ROWE PRICE EQUITY INCOME PORTFOLIO | CLASS II | 69 | (54) | 15 | 72 | (45) | 27 |
| T. ROWE PRICE MID-CAP GROWTH PORTFOLIO | CLASS II | 80 | (28) | 52 | 49 | (5) | 44 |
|  TARGET 2015 ALLOCATION | CLASS IB |  |  |  | 4 | (9) | (5) |
|  TARGET 2025 ALLOCATION | CLASS IB | 10 | (12) | (2) | 24 | (43) | (19) |
|  TARGET 2035 ALLOCATION | CLASS IB | 20 | (27) | (7) | 26 | (41) | (15) |
|  TARGET 2045 ALLOCATION | CLASS IB | 12 | (14) | (2) | 21 | (9) | 12 |
|  TARGET 2055 ALLOCATION | CLASS IB | 17 | (11) | 6 | 18 | (34) | (16) |
|  TEMPLETON DEVELOPING MARKETS VIP FUND | CLASS 2 | 156 | (117) | 39 | 147 | (115) | 32 |
|  TEMPLETON GLOBAL BOND VIP FUND | CLASS 2 | 170 | (154) | 16 | 180 | (115) | 65 |
|  VANECK VIP GLOBAL RESOURCES FUND | CLASS S | 71 | (44) | 27 | 43 | (43) |  |
|  VANGUARD VARIABLE INSURANCE FUND EQUITY INDEX PORTFOLIO | COMMON SHARES | 1 | (2) | (1) | 4 | (5) | (1) |

---

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

\*\* Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 6 of these financial statements.

The — on the Units Issued and Units Redeemed section may represent no units issued and units redeemed or units issued and units redeemed of less than 500.

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements** 

**December 31, 2025** 

**1**. Organization

Separate Account FP ("the Account") was established by Equitable Financial Life Insurance Company ("Equitable Financial") and is organized as a unit investment trust, a type of investment company, and is registered with the Securities and Exchange Commission ("SEC") under the Investment Company Act of 1940 (the "1940 Act"). The Account follows the investment company and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification Topic 946—Investment Companies, which is part of accounting principles generally accepted in the United States of America ("GAAP"). The Account has Variable Investment Options, each of which invest in shares of a mutual fund portfolio of AB Variable Products Series Fund, Inc., AIM Variable Insurance Funds (Invesco Variable Insurance Funds), American Funds Insurance Series<sup>®</sup>, BlackRock Variable Series Funds, Inc., EQ Advisors Trust ("EQAT"), Fidelity<sup>®</sup> Variable Insurance Products, Franklin Templeton Variable Insurance Products, Ivy Variable Insurance Portfolios, Janus Aspen Series, Lord Abbett Series Fund, Inc., MFS<sup>®</sup> Variable Insurance Trust, PIMCO Variable Insurance Trust, T. Rowe Price Equity Series, Inc., Van Eck VIP Trust, and Vanguard Variable Insurance Funds (collectively, "the Trusts"). The Trusts are open-ended investment management companies that sell shares of a portfolio ("Portfolio") of a mutual fund to separate accounts of insurance companies. Each Portfolio of the Trusts has separate investment objectives. These financial statements and notes are those of the Variable Investment Options of the Account.

The Account consists of the Variable Investment Options listed below.

**<u>AB Variable Products Series Fund, Inc.\*</u>**

• AB VPS Discovery Value Portfolio

**<u>AIM Variable Insurance Funds (Invesco Variable</u>**

**<u>Insurance Funds)</u>**

• Invesco V.I. Diversified Dividend Fund

**<u>American Funds Insurance Series<sup>®</sup></u>**

• American Funds Insurance Series<sup>®</sup> Asset Allocation Fund

• American Funds Insurance Series<sup>®</sup> Global Small Capitalization Fund

• American Funds Insurance Series<sup>®</sup> New World Fund<sup>®</sup>

**<u>BlackRock Variable Series Funds, Inc.</u>**

• BlackRock Global Allocation V.I. Fund

**<u>EQ Advisors Trust\*</u>**

• 1290 VT Convertible Securities

• 1290 VT DoubleLine Opportunistic Bond

• 1290 VT Equity Income

• 1290 VT GAMCO Mergers & Acquisitions

• 1290 VT GAMCO Small Company Value

• 1290 VT Multi-Alternative Strategies

• 1290 VT Natural Resources

• 1290 VT Real Estate

• 1290 VT Small Cap Value

• 1290 VT SmartBeta Equity ESG

• 1290 VT Socially Responsible

• EQ/400 Managed Volatility

• EQ/500 Managed Volatility

• EQ/2000 Managed Volatility

• EQ/AB Small Cap Growth

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

• EQ/Aggressive Allocation

• EQ/All Asset Growth Allocation

• EQ/American Century Mid Cap Value

• EQ/Balanced Strategy

• EQ/Capital Group Research

• EQ/ClearBridge Large Cap Growth ESG

• EQ/Common Stock Index

• EQ/Conservative Allocation

• EQ/Conservative Growth Strategy

• EQ/Conservative Strategy

• EQ/Conservative-Plus Allocation

• EQ/Core Bond Index

• EQ/Core Plus Bond

• EQ/Emerging Markets Equity PLUS

• EQ/Equity 500 Index

• EQ/Fidelity Institutional AM <sup>®</sup> Large Cap

• EQ/Franklin Rising Dividends

• EQ/Global Equity Managed Volatility

• EQ/Goldman Sachs Mid Cap Value

• EQ/Growth Strategy

• EQ/Intermediate Corporate Bond

• EQ/Intermediate Government Bond

• EQ/International Core Managed Volatility

• EQ/International Equity Index

• EQ/International Managed Volatility

• EQ/International Value Managed Volatility

• EQ/Invesco Comstock

• EQ/Invesco Global

• EQ/Invesco Global Real Assets

• EQ/Janus Enterprise

• EQ/JPMorgan Growth Stock

• EQ/JPMorgan Value Opportunities

• EQ/Large Cap Core Managed Volatility

• EQ/Large Cap Growth Index

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**1**. Organization (Continued)

• EQ/Large Cap Growth Managed Volatility

• EQ/Large Cap Value Index

• EQ/Large Cap Value Managed Volatility

• EQ/Lazard Emerging Markets Equity

• EQ/Long-Term Bond

• EQ/Loomis Sayles Growth

• EQ/MFS International Growth

• EQ/MFS International Intrinsic Value

• EQ/MFS Mid Cap Focused Growth

• EQ/MFS Technology

• EQ/MFS Utilities Series

• EQ/Mid Cap Index

• EQ/Mid Cap Value Managed Volatility

• EQ/Moderate Allocation

• EQ/Moderate Growth Strategy

• EQ/Moderate-Plus Allocation

• EQ/Money Market

• EQ/Morgan Stanley Small Cap Growth

• EQ/PIMCO Global Real Return

• EQ/PIMCO Real Return

• EQ/PIMCO Total Return ESG

• EQ/PIMCO Ultra Short Bond

• EQ/Quality Bond PLUS

• EQ/Small Company Index

• EQ/T. Rowe Price Health Sciences

• EQ/Value Equity

• EQ/Wellington Energy

• Equitable Conservative Growth MF/ETF

• Equitable Growth MF/ETF

• Equitable Moderate Growth MF/ETF

• Multimanager Aggressive Equity

• Multimanager Core Bond

• Multimanager Technology

• Target 2015 Allocation

• Target 2025 Allocation

• Target 2035 Allocation

• Target 2045 Allocation

• Target 2055 Allocation

**<u>Fidelity<sup>®</sup> Variable Insurance Products</u>**

• Fidelity <sup>®</sup> VIP Asset Manager 70%<sup>(1)</sup>

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

• Fidelity <sup>®</sup> VIP Equity-Income Portfolio

• Fidelity <sup>®</sup> VIP Government Money Market Portfolio

• Fidelity <sup>®</sup> VIP High Income Portfolio

• Fidelity <sup>®</sup> VIP Investment Grade Bond Portfolio

• Fidelity <sup>®</sup> VIP Mid Cap Portfolio

• Fidelity <sup>®</sup> VIP Value Portfolio

• Fidelity <sup>®</sup> VIP Value Strategies Portfolio

**<u>Franklin Templeton Variable Insurance Products</u>**

• Franklin Small Cap Value VIP Fund

• Templeton Developing Markets VIP Fund

• Templeton Global Bond VIP Fund

**<u>Ivy Variable Insurance Portfolios</u>**

• Nomura VIP High Income Series<sup>(2)</sup>

**<u>Janus Aspen Series</u>**

• Janus Henderson Balanced Portfolio

**<u>Lord Abbett Series Fund, Inc.</u>**

• Lord Abbett Series Fund — Bond Debenture Portfolio

**<u>MFS<sup>®</sup> Variable Insurance Trust</u>**

• MFS <sup>®</sup> Massachusetts Investors Growth Stock Portfolio

**<u>PIMCO Variable Insurance Trust</u>**

• PIMCO CommodityRealReturn <sup>®</sup> Strategy Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>T. Rowe Price Equity Series, Inc.</u>**

• T. Rowe Price Blue Chip Growth Portfolio

• T. Rowe Price Equity Income Portfolio

• T. Rowe Price Mid-Cap Growth Portfolio

**<u>Van Eck VIP Trust</u>**

• VanEck VIP Global Resources Fund

**<u>Vanguard Variable Insurance Funds</u>**

• Vanguard Variable Insurance Fund Equity Index Portfolio

<sup>(1)</sup> Formerly known as Fidelity<sup>®</sup> VIP Asset Manager: Growth Portfolio.

<sup>(2)</sup> Formerly known as Macquarie VIP High Income Series.

\* An affiliate of Equitable Financial providing advisory and other services to one or more Portfolios of this Trust, as further described in Note 6 of these financial statements.

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**1**. Organization (Continued)

The Account is used to fund benefits for the following Variable Life products (collectively, the "Contracts"):

• Accumulator Life

• Incentive Life

• Incentive Life 2000

• Incentive Life Sales (1999 and after)

• Incentive Life '02

• Incentive Life '06

• Incentive Life <sup>®</sup> Optimizer

• Incentive Life Optimizer II

• Incentive Life Optimizer III

• VUL Optimizer

• Incentive Life Plus<sup>SM</sup>

• Incentive Life Plus Original Series

• Paramount Life

• IL Legacy

• IL Legacy II

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

• IL Legacy III

• VUL Legacy

• IL Protector<sup>SM</sup>

• Incentive Life COLI

• Incentive Life COLI '04

• Champion 2000

• Survivorship 2000

• Survivorship Incentive Life 1999

• Survivorship Incentive Life '02

• Survivorship Incentive Life <sup>®</sup> Legacy

• VUL Survivorship

• SP-Flex

• Corporate Owned Incentive Life <sup>®</sup>

• COIL Institutional Series

• Equitable Advantage

The Incentive Life 2000, Champion 2000 and Survivorship 2000 Contracts are herein referred to as the "Series 2000 Policies." Incentive Life Plus<sup>SM</sup> Contracts offered with a prospectus dated on or after September 15, 1995, are referred to as "Incentive Life Plus<sup>SM</sup>." Incentive Life Plus Contracts issued with a prior prospectus are referred to as "Incentive Life Plus Original Series."

Under applicable insurance law, the assets and liabilities of the Account are clearly identified and distinguished from Equitable Financial's other assets and liabilities. All Contracts are issued by Equitable Financial. The assets of the Account are the property of Equitable Financial. However, the portion of the Account's assets attributable to the Contracts will not be chargeable with liabilities arising out of any other business Equitable Financial may conduct.

The amount retained by Equitable Financial in the Account arises primarily from (1) contributions from Equitable Financial and (2) that portion, determined ratably, of the Account's investment results applicable to those assets in the Account in excess of the net assets attributable to accumulation of units. Amounts retained by Equitable Financial are not subject to charges for mortality and expense charges and administrative charges. Amounts retained by Equitable Financial in the Account may be transferred at any time by Equitable Financial to its General Account ("General Account").

Each of the Variable Investment Options of the Account bears indirect exposure to the market, credit, and liquidity risks of the Portfolio in which it invests. These financial statements and footnotes should be read in conjunction with the financial statements and footnotes of the Portfolios of the Trusts, which are distributed by Equitable Financial to the Contractowners of the Variable Investment Options of the Account.

In the normal course of business, Equitable Financial may have agreements to indemnify another party under given circumstances. The maximum exposure under these arrangements is unknown as this would involve future claims that may be, but have not been, made against the Variable Investment Options of the Account. Based on experience, the risk of material loss is expected to be remote.

**2.** Significant Accounting Policies

The accompanying financial statements are prepared in conformity with GAAP. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**2.** Significant Accounting Policies (Concluded)

*Investments:* 

Investments are made in shares of the Portfolios and the fair values of investments are the reported net asset values per share of the respective Portfolios. The net asset value is determined by the Trusts using the fair value of the underlying assets of the Portfolio less liabilities.

*Investment Transactions and Investment Income:* 

Investment transactions are recorded on the trade date. Dividend income and net realized gain distributions from the Portfolios are recorded and automatically reinvested on the ex-dividend date. Net realized gain (loss) on investments are gains and losses on redemptions of investments in the Portfolios (determined on the identified cost basis).

*Due to and Due from:* 

Receivable/payable for policy-related transactions represent amounts due to/from Equitable Financial's General Account primarily related to premiums, surrenders, death benefits and amounts transferred among various Portfolios by Contractowners. Receivable/payable for shares of the Portfolios sold/purchased represent unsettled trades.

*Accumulation Nonunitized:* 

Accumulation nonunitized represents a product offered based upon a dollar amount (starting at $1) rather than units. It is similar to Accumulation Units accounts, which are based upon units, as the dollar amount of the Contractowner account changes with the investment activity of the Variable Investment Option the Contract is invested in, net of contract charges.

*Contract Payments and Transfers:* 

Payments received from Contractowners represent participant contributions under the Contracts reduced by deductions and charges, including premium charges, as applicable, and state premium taxes. Contractowners may allocate amounts in their individual accounts to the Variable Investment Options, and (except for SP-Flex Contracts), to the guaranteed interest account of Equitable Financial's General Account, and/or index fund options of Separate Account No. 67, if available.

Transfers between Variable Investment Options including the guaranteed interest account, net, are amounts that participants have directed to be moved among Portfolios, including permitted transfers to and from the guaranteed interest account, and/or index fund options of Separate Account No. 67, if available. The net assets of any Variable Investment Option may not be less than the aggregate value of the Contractowner accounts allocated to that Variable Investment Option. Equitable Financial is required by state insurance laws to set aside additional assets in Equitable Financial's General Account to provide for other policy benefits. Equitable Financial's General Account is subject to creditor rights.

Redemptions for contract benefits and terminations are payments to participants and beneficiaries made under the terms of the Contracts and amounts that participants have requested to be withdrawn and paid to them. Withdrawal charges, if any, are included in Redemptions for contract benefits and terminations to the extent that such charges apply to the Contracts. Administrative charges, if any, are included in Contract maintenance charges to the extent that such charges apply to the Contracts.

*Income Taxes:* 

The operations of the Account are included in the federal income tax return of Equitable Financial which is taxed as a life insurance company under the provisions of the Internal Revenue Code. No federal income tax based on net income or realized and unrealized capital gains is currently applicable to Contracts participating in the Account by reason of applicable provisions of the Internal Revenue Code and no federal income tax payable by Equitable Financial is expected to affect the unit value of Contracts participating in the Account. Accordingly, no provision for income taxes is required.

However, Equitable Financial retains the right to charge for any federal income tax which is attributable to the Account if the law is changed.

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**3.** Fair Value Disclosures

Under GAAP, fair value is the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. GAAP also establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value:

Level 1 — Quoted prices that are publicly available for identical assets in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data.

Level 3 — Unobservable inputs supported by little or no market activity and often requiring significant judgment or estimation, such as an entity's own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability.

All investments of each Variable Investment Option of the Account have been classified as Level 1. There were no transfers between level 1, level 2 and level 3 during the year.

**4.** Segment Reporting

Equitable Financial has identified its President and the President of Equitable Investment Management Group, LLC ("EIMG") as the Chief Operating Decision Makers ("CODM") assessing performance and making decisions about resource allocation for the Separate Account. The Separate Account is comprised of multiple subaccounts; each subaccount represents a variable investment option. As an investment company, the Separate Account engages in a single line of business, which typically involves managing funds that are segregated from the general assets of the Separate Account's parent company. The Separate Account is used for products such as variable annuities and life insurance policies, where contractholders can choose from various investment options across different asset classes, which allow contractholders to diversify their portfolios according to their risk tolerance and investment goals.

The CODM determined that each variable investment option makes up one operating segment of the Separate Account. The Separate Account's variable investment options are pre-determined in accordance with the terms of the prospectus.

The financial information provided and reviewed by the CODM is consistent with those presented within the Statement of Assets and Liabilities, Statement of Operations, Statement of Changes in Net Assets, and Financial Highlights.

**5.** Purchases and Sales of Portfolios

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

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
|  1290 VT Convertible Securities | $4261132 | $1628830 |
|  1290 VT DoubleLine Opportunistic Bond | 8283624 | 2494367 |
|  1290 VT Equity Income | 4738026 | 2661075 |
|  1290 VT GAMCO Mergers & Acquisitions | 3083816 | 3236478 |
|  1290 VT GAMCO Small Company Value | 52378768 | 30021234 |
|  1290 VT Multi-Alternative Strategies | 534578 | 370683 |
|  1290 VT Natural Resources | 2136106 | 1684962 |
|  1290 VT Real Estate | 1199865 | 440477 |
|  1290 VT Small Cap Value | 9504826 | 5558709 |
|  1290 VT SmartBeta Equity ESG | 4668537 | 2020194 |
|  1290 VT Socially Responsible | 1172202 | 1146623 |
|  AB VPS Discovery Value Portfolio | 92599 | 51489 |
|  American Funds Insurance Series<sup>®</sup> Asset Allocation Fund | 4128662 | 2029365 |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**5.** Purchases and Sales of Portfolios (Continued)

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
|  American Funds Insurance Series<sup>®</sup> Global Small Capitalization Fund | $4400872 | $2818379 |
|  American Funds Insurance Series<sup>®</sup> New World Fund<sup>®</sup> | 12793121 | 11284365 |
|  BlackRock Global Allocation V.I. Fund | 4252137 | 1303380 |
|  EQ/400 Managed Volatility | 1356683 | 1404780 |
|  EQ/500 Managed Volatility | 6756328 | 4028227 |
|  EQ/2000 Managed Volatility | 1142658 | 1083404 |
|  EQ/AB Small Cap Growth | 38345909 | 26528481 |
|  EQ/Aggressive Allocation | 35002763 | 23794036 |
|  EQ/All Asset Growth Allocation | 7222136 | 4939430 |
|  EQ/American Century Mid Cap Value | 17702687 | 13343282 |
|  EQ/Balanced Strategy | 5735668 | 3147035 |
|  EQ/Capital Group Research | 23614467 | 23328938 |
|  EQ/ClearBridge Large Cap Growth ESG | 20607870 | 12294337 |
|  EQ/Common Stock Index | 234268542 | 196048164 |
|  EQ/Conservative Allocation | 3945744 | 4125120 |
|  EQ/Conservative Growth Strategy | 1199901 | 623871 |
|  EQ/Conservative Strategy | 394070 | 393854 |
|  EQ/Conservative-Plus Allocation | 5875470 | 4574121 |
|  EQ/Core Bond Index | 22294084 | 11304409 |
|  EQ/Core Plus Bond | 20324511 | 16051512 |
|  EQ/Emerging Markets Equity PLUS | 2242989 | 711106 |
|  EQ/Equity 500 Index | 358057226 | 202904381 |
|  EQ/Fidelity Institutional AM<sup>®</sup> Large Cap | 26638377 | 58280226 |
|  EQ/Franklin Rising Dividends | 13587723 | 9903612 |
|  EQ/Global Equity Managed Volatility | 21907251 | 15383577 |
|  EQ/Goldman Sachs Mid Cap Value | 9074970 | 6622059 |
|  EQ/Growth Strategy | 14141233 | 6690722 |
|  EQ/Intermediate Corporate Bond | 1242353 | 158971 |
|  EQ/Intermediate Government Bond | 16505374 | 13978137 |
|  EQ/International Core Managed Volatility | 9143201 | 6106050 |
|  EQ/International Equity Index | 62659183 | 60078367 |
|  EQ/International Managed Volatility | 1247894 | 789387 |
|  EQ/International Value Managed Volatility | 10974777 | 9795843 |
|  EQ/Invesco Comstock | 11300181 | 6556129 |
|  EQ/Invesco Global | 1779903 | 574769 |
|  EQ/Invesco Global Real Assets | 9230965 | 4613595 |
|  EQ/Janus Enterprise | 14482741 | 8796397 |
|  EQ/JPMorgan Growth Stock | 71409287 | 34021086 |
|  EQ/JPMorgan Value Opportunities | 36919002 | 15754448 |
|  EQ/Large Cap Core Managed Volatility | 10395072 | 3298410 |
|  EQ/Large Cap Growth Index | 81750974 | 50155255 |
|  EQ/Large Cap Growth Managed Volatility | 71623164 | 37711551 |
|  EQ/Large Cap Value Index | 16310113 | 7320870 |
|  EQ/Large Cap Value Managed Volatility | 46604538 | 34164599 |
|  EQ/Lazard Emerging Markets Equity | 18159786 | 12579406 |
|  EQ/Long-Term Bond | 3197314 | 276762 |
|  EQ/Loomis Sayles Growth | 25013534 | 13870099 |
|  EQ/MFS International Growth | 30848514 | 17114195 |
|  EQ/MFS International Intrinsic Value | 32450236 | 23310155 |
|  EQ/MFS Mid Cap Focused Growth | 21468775 | 10824123 |
|  EQ/MFS Technology | 49945403 | 33035001 |
|  EQ/MFS Utilities Series | 2642599 | 1286550 |
|  EQ/Mid Cap Index | 57346269 | 33402492 |
|  EQ/Mid Cap Value Managed Volatility | 20762947 | 15812955 |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**5.** Purchases and Sales of Portfolios (Continued)

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
|  EQ/Moderate Allocation | $74126106 | $75373908 |
|  EQ/Moderate Growth Strategy | 19202212 | 15059548 |
|  EQ/Moderate-Plus Allocation | 74150479 | 45972880 |
|  EQ/Money Market | 436274614 | 379628058 |
|  EQ/Morgan Stanley Small Cap Growth | 7591752 | 7585622 |
|  EQ/PIMCO Global Real Return | 467042 | 391725 |
|  EQ/PIMCO Real Return | 10139114 | 7885377 |
|  EQ/PIMCO Total Return ESG | 18182754 | 12928421 |
|  EQ/PIMCO Ultra Short Bond | 16334874 | 11935002 |
|  EQ/Quality Bond PLUS | 12415286 | 10878203 |
|  EQ/Small Company Index | 29213535 | 24321870 |
|  EQ/T. Rowe Price Health Sciences | 4752533 | 3069995 |
|  EQ/Value Equity | 15994877 | 17329622 |
|  EQ/Wellington Energy | 7861588 | 7089635 |
|  Equitable Conservative Growth MF/ETF | 3051747 | 2839237 |
|  Equitable Growth MF/ETF | 2121395 | 512523 |
|  Equitable Moderate Growth MF/ETF | 553139 | 68288 |
|  Fidelity<sup>®</sup> VIP Asset Manager 70% | 2149232 | 1165684 |
|  Fidelity<sup>®</sup> VIP Equity-Income Portfolio | 1903732 | 2396678 |
|  Fidelity<sup>®</sup> VIP Government Money Market Portfolio | 3853002 | 7112723 |
|  Fidelity<sup>®</sup> VIP High Income Portfolio | 1678637 | 700042 |
|  Fidelity<sup>®</sup> VIP Investment Grade Bond Portfolio | 8445478 | 3789945 |
|  Fidelity<sup>®</sup> VIP Mid Cap Portfolio | 14722657 | 7684936 |
|  Fidelity<sup>®</sup> VIP Value Portfolio | 6837683 | 2447361 |
|  Fidelity<sup>®</sup> VIP Value Strategies Portfolio | 159069 | 164483 |
|  Franklin Small Cap Value VIP Fund | 9125502 | 5656830 |
|  Invesco V.I. Diversified Dividend Fund | 2601650 | 1410962 |
|  Janus Henderson Balanced Portfolio | 6255545 | 3348561 |
|  Lord Abbett Series Fund — Bond Debenture Portfolio | 3343576 | 1239337 |
|  MFS<sup>®</sup> Massachusetts Investors Growth Stock Portfolio | 2355565 | 2642581 |
|  Multimanager Aggressive Equity | 145734012 | 65204844 |
|  Multimanager Core Bond | 6491019 | 7663015 |
|  Multimanager Technology | 77761817 | 48832888 |
|  Nomura VIP High Income Series | 16283556 | 11964897 |
|  PIMCO CommodityRealReturn<sup>®</sup> Strategy Portfolio | 3833742 | 3443811 |
| T. Rowe Price Blue Chip Growth Portfolio | 6599860 | 2105099 |
| T. Rowe Price Equity Income Portfolio | 6719565 | 4219730 |
| T. Rowe Price Mid-Cap Growth Portfolio | 1471711 | 406530 |
|  Target 2015 Allocation | 15443 | 6333 |
|  Target 2025 Allocation | 2680782 | 1704808 |
|  Target 2035 Allocation | 3709196 | 2761615 |
|  Target 2045 Allocation | 2029758 | 2146958 |
|  Target 2055 Allocation | 1483747 | 953083 |
|  Templeton Developing Markets VIP Fund | 7774678 | 5557657 |
|  Templeton Global Bond VIP Fund | 5253512 | 4968264 |
|  VanEck VIP Global Resources Fund | 4707816 | 2681125 |
|  Vanguard Variable Insurance Fund Equity Index Portfolio | 1569847 | 1507910 |

---

**6**. Expenses and Related Party Transactions

The assets in each Variable Investment Option are invested in shares of a corresponding Portfolio of the Trusts. Shares are offered by the Portfolios at net asset value. Shares in which the Variable Investment Options invest are categorized by the share class of the Portfolio. EQAT issues Class IA, Class IB and Class K shares. All share classes issued by EQAT are subject to fees for investment management, administration and other Portfolio expenses. Class IA and Class IB are also

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**6**. Expenses and Related Party Transactions (Concluded)

subject to distribution fees imposed under distribution plans ("Distribution Plans") and adopted by EQAT in the manner prescribed under Rule 12b-1 under the 1940 Act. The Distribution Plans provide that EQAT, on behalf of each related Portfolio, may charge a maximum annual distribution fee ("12b-1 fee") of 0.25% of the average daily net assets of a Portfolio attributable to its Class IA and Class IB shares. The class-specific expenses attributable to the investment in each share class of the Portfolios in which the Variable Investment Options invest are borne by the specific unit classes of the Variable Investment Options to which the investments are attributable.

EQAT, on behalf of each Portfolio, has entered into distribution agreements with Equitable Distributors, LLC ("Equitable Distributors"), an indirect wholly-owned subsidiary of Equitable Financial and an affiliate of EIMG. The Distribution Plans provide that Equitable Distributors will be entitled to receive a maximum 12b-1 fee as described above.

EIMG, a wholly-owned subsidiary of Equitable Financial, serves as investment adviser of the Portfolios of EQAT. EIMG either (1) directly manages the Portfolios or (2) contracts with and oversees the activities of the investment sub-advisers with respect to the Portfolios. EIMG receives management fees for services performed in its capacity as investment adviser of the Portfolios of EQAT, and pays fees to the sub-advisers for sub-advisory services to the respective Portfolios. Equitable Investment Management, LLC ("EIM"), an affiliate of Equitable Financial, serves as administrator of the Portfolios of EQAT. As the administrator, EIM either (1) carries out its responsibilities directly or (2) through sub-contracting with third-party providers. EIM receives administrative fees for services performed in its capacity as administrator of the Portfolios of EQAT. Expenses of the Portfolios of EQAT generally vary, depending on net asset levels for individual Portfolios, and range from a low annual rate of 0.54% to a high of 2.74% (after waivers, reimbursements, fees paid indirectly and including indirect expenses, as applicable) of the average daily net assets of the Portfolios of EQAT. Since these fees and expenses are reflected in the net asset value of the shares of the Portfolios and the total returns of the Variable Investment Options, they are not included in the expenses or expense ratios of the Variable Investment Options.

Equitable Financial, Equitable Advisors, LLC ("Equitable Advisors") or Equitable Distributors may directly or indirectly receive 12b-1 fees and additional payments from certain unaffiliated Portfolios, their advisers, sub- advisers, distributors or affiliates, for providing certain administrative, marketing, distribution and/or shareholder support services in connection with the Variable Investment Options' investment in the Portfolios. These fees and payments range from 0.00% to 0.60% of the unaffiliated Portfolios' average daily net assets. Equitable Advisors or Equitable Distributors may also receive payments from the advisers or sub-advisers of the unaffiliated Portfolios or their affiliates for certain distribution services, including expenses for sales meetings or seminar sponsorships that may relate to the policies and/ or the advisers' respective Portfolios.

AllianceBernstein L.P. ("AllianceBernstein") serves as an investment sub-advisor for a number of Portfolios in EQAT including the 1290 VT Natural Resources, 1290 VT Real Estate, EQ/AB Small Cap Growth, EQ/Common Stock Index, EQ/Equity 500 Index, EQ/Intermediate Corporate Bond, EQ/International Equity Index, EQ/Large Cap Growth Index, EQ/Large Cap Value Index, EQ/Long-Term Bond, EQ/Mid Cap Index and EQ/Small Company Index, as well as a portion of EQ/Emerging Markets Equity PLUS, EQ/Large Cap Value Managed Volatility, EQ/Quality Bond PLUS, Multimanager Aggressive Equity and Multimanager Technology. AllianceBernstein is a limited partnership which is indirectly majority-owned by Equitable Holdings, Inc.

Equitable Advisors and Equitable Distributors are distributors and principal underwriters of the Account. They are both registered with the SEC as broker-dealers and are members of the Financial Industry Regulatory Authority ("FINRA").

The Contracts are sold by financial professionals who are registered representatives of Equitable Advisors and licensed insurance agents of Equitable Network, LLC ("Equitable Network") or its subsidiaries. The Contracts are also sold through licensed insurance agencies (both affiliated and unaffiliated with Equitable Financial) and their affiliated broker-dealers (who are registered with the SEC and members of the FINRA) that have entered into selling agreements with Equitable Distributors. The licensed insurance agents who sell Contracts for these companies are appointed as agents of Equitable Financial and are registered representatives of the agencies and affiliated broker-dealer. Equitable Network receives commissions under its General Sales Agreement with Equitable Financial and its Networking Agreement with Equitable Advisors. Equitable Advisors receives service- related payments under its Supervisory and Distribution Agreement with

Equitable Financial. The financial professionals are compensated on a commission basis by Equitable Network.

Equitable Financial serves as the transfer agent for EQAT.

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**7.** Asset-based Charges and Contractowner Charges

The table below lists the charges for each product. These charges are reflected as "Asset-based Charges" in the Statement of Operations or as part of "Contractowners Transactions" in the Statement of Changes in Net Assets.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Mortality and<br>Expense Risks** | **Mortality** | **Administrative** | **Total** |
|  Accumulator Life | varies (b)(d) | varies(b) | varies (b)(f) | varies |
|  Incentive Life, Champion 2000 | 0.60%(a) |  |  | 0.60% |
|  Incentive Life 2000, Incentive Life 1999, |  |  |  |  |
|  Incentive Life Plus | 0.60%(l)(n) |  |  | 0.60% |
|  Incentive Life '02 | varies (b)(g) |  |  | 0.80% |
|  Incentive Life '06 | 0.85%(b)(e) |  |  | 0.85% |
|  Survivorship Incentive Life '02 | 0.90%(b)(m) |  |  | 0.90% |
|  Paramount Life | 0.60%(a) |  |  | 0.60% |
|  Incentive Life Plus Original Series | 0.60%(b)(l) |  |  | 0.60% |
|  Incentive Life COLI | 0.60%(b) |  |  | 0.60% |
|  Incentive Life COLI '04 | 0.75%(b)(c) |  |  | 0.75% |
|  Survivorship Incentive Life 1999 | 0.60%(a) |  |  | 0.60% |
|  Survivorship 2000 | 0.90%(a) |  |  | 0.90% |
|  IL Legacy | 1.75%(b)(h) |  |  | 1.75% |
|  IL Legacy II | 0.85%(b)(i)(l) |  |  | 0.85% |
|  IL Legacy III | 0.85%(b)(i)(l) |  |  | 0.85% |
|  VUL Legacy<sup>SM</sup> | 0.85%(b)(p)(s) |  |  | 0.85% |
|  IL Protector | 0.80%(a) |  |  | 0.80% |
|  SP-Flex | 0.85%(a) | 0.60%(a) | 0.35%(a) | 1.80% |
|  Incentive Life<sup>®</sup> Optimizer | 0.85%(b)(e)(l) |  |  | 0.85% |
|  Incentive Life Optimizer II | 0.85%(b)(e)(l) |  |  | 0.85% |
|  Incentive Life Optimizer III | 0.60%(b)(l)(o) |  |  | 0.60% |
|  VUL Optimizer<sup>SM</sup> | 0.60%(b)(o)(p) |  |  | 0.60% |
|  Survivorship Incentive Life<sup>®</sup> Legacy | 0.55%(b)(j) |  |  | 0.55% |
|  VUL Survivorship | 0.80%(b)(r) |  |  | 0.80% |
|  Corporate Owned Incentive Life<sup>®</sup> | 0.35%(b)(k)(l) |  |  | 0.35% |
|  COIL Institutional Series<sup>SM</sup> | 0.25%(b)(l)(q) |  |  | 0.25% |
|  COIL Institutional Series, Series 162 | 0.35%(b)(p)(t) |  |  | 0.35% |
|  Equitable Advantage | 0.40%(b)(u)(v) |  |  | 0.40% |
|  VUL Incentive Life Protect<sup>SM</sup> | 0.50%(b)(p)(w)(x) |  |  | 0.50% |

---

(a) Charged to daily net assets of the Account.

(b) Charged to Contractowners Account and is included in Redemptions for contract benefits and terminations in the Statements of Changes in Net Assets.

(c) Policy years 1–5 0.75% (1.00% maximum) Policy years 6– 20 0.55% (0.75% maximum) Policy years 21+ 0.35% (0.50% maximum).

(d) Varies by age, sex, class. The highest current charge is 1.21%. Policy years 1–10 0.71% to 1.46% maximum Policy years 11+ 0.30% to 0.50% maximum.

(e) Policy years 1–8 0.85% (1.00% maximum) Policy years 9– 10 0.00% (1.00% maximum) Policy years 11+ 0.00% (0.50% maximum).

(f) Policy years 1–10 0.72% to 1.73% Policy years 11+ 0.11% to 0.32%.

(g) Policy years 1–15 0.80%, 0.70% or 0.60% depending (0.80% maximum) Policy years 16+ 0.30% or 0.20% depending (0.50% maximum).

(h) Policy years 1–10 1.75% (maximum and current) Policy years 11– 20 0.25% (0.50% maximum) Policy Years 21+ 0.00% (0.50% maximum).

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

(i) Policy years 1–15 0.85% (maximum and current) Policy years 16+ 0.00% (0.85% maximum) For policies with the ENLG rider, there is an additional charge of 0.15% deducted while the rider is in effect.

(j) Policy years 1–15 0.55% (maximum and current) Policy years 16+ 0.05% (0.55% maximum) For policies with the ENLG rider, there is an additional charge of 0.70% deducted until age 100 of the younger
insured.

(k) Policy years 1–10 0.15% (0.50% maximum); however, 0.35% (0.50% maximum) of any account value allocated to MSO segments. Policy years 11+ 0.10% (0.35% maximum).

(l) For policies with MSO, there is an additional charge of 1.40% (2.40% maximum) of any policy account value allocated to each segment.

(m) Policy year 1-15 0.90% (maximum and current) Policy year 16+ 0.60% or 0.30% depending (0.90% maximum).

(n) Charged to daily net assets of the Account for all investment options except MSO. However, for any account value allocated to MSO segments, the M & E is charged to Contract owners Account.

(o) Policy years 1-8 0.60% (current) Policy years 1-10 1.00% (maximum) Policy years 9+ 0.00% (current) Policy years 11+ 0.50%
(maximum).

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**7.** Asset-based Charges and Contractowner Charges (Continued)

(p) For policies with MSO, there is an additional charge of 1.15% (2.40% maximum) of any policy account value allocated to each segment.

(q) Policy years 1–10 0.25% (0.50% maximum) Policy years 11+ 0.05% (0.35% maximum).

(r) Policy years 1–15 0.80% (current and maximum) Policy years 16+ 0.00% (0.80% maximum).

(s) Policy years 1–15 0.50% (0.85% maximum) Policy years 16+ 0.00% (0.85% maximum).

(t) Policy years 1–10 0.35% (0.50% maximum) Policy years 11+ 0.15% (0.35% maximum).

(u) For policies with MSO, there is an additional charge of 0.40%

(1.60% maximum) of any policy account value allocated to each segment.

(v) Policy years 1-8 0.40% (current) Policy years 1-10 1.00% (maximum) Policy years 9+ 0.05% (current) Policy years 11+ 0.50%
(maximum).

(w) Policy years 1–15 0.50% (0.85% maximum) Policy years 16+ 0.00% (0.85% maximum). For policies with the ENLG rider, there is an additional charge of 0.35% in policy years 1-15 and 0.85% in policy years 16+ deducted while the rider is in effect.

(x) For policies with MSO II, there is an additional charge of 0.40% (1.65% maximum) of any policy account value allocated to each segment.

The Accumulator Life Program utilizes two insurance products — a single premium fixed annuity contract and a flexible premium variable life insurance policy. The Program is designed to provide a simple method to purchase a variable life insurance policy with a single purchase payment. The Accumulator Life mortality and expense guaranteed risk charges are 0.71% to 1.46% in years 1 to 10 and 0.30% to 0.50% in years 11 and beyond. The current mortality and expense risk charges are lower than the guaranteed charges. The highest current charge is 1.21%. The Accumulator Life guaranteed administrative charges vary in years 1 to 10 from 0.72% to 1.73% of the Policy Account Value, depending on age, sex, and class. The current and guaranteed basis charges are equal. Beginning in policy year 11 the administrative rates are guaranteed to decrease. The Accumulator Life current cost of insurance charges vary in years 1 to 10 from 1.27% to 2.42% of the greater of (1) the Policy Account Value and (2) the Mortality Charge Base (accumulation of the 7-pay premiums due, up to that time at 4%), depending on the age, sex, and class. Beginning in policy year 11 the current cost of insurance charges decrease on a current basis. The cost of insurance charge is capped at the guaranteed cost of insurance rate times the Net Amount of Risk.

The Incentive Life '02 mortality and expense risk charge of 0.80%, 0.70% or 0.60% will be in effect for the first 15 policy years depending upon the value of the Contractowner's Variable Investment Options. For policy years 16 and later the charge is currently 0.30% or 0.20%, depending upon the value of the Contractowner's Variable Investment Options. The Survivorship Incentive Life '02 mortality and expense risk charge of 0.90% will be in effect for the first 15 policy years. For policy years 16 and later the charge is currently 0.60% and 0.30% depending upon the value of the Contractowner's Variable Investment Options. The current mortality and expense risk charges are lower than guaranteed charges.

The Incentive Life Legacy mortality and expense risk charge of 1.75% will be in effect for the first ten policy years on a current and guaranteed basis. For policy years 11-20, the charge is currently 0.25% and for policy years 21 and later, it is 0.00%. In policy years 11 and later the current mortality and expense risk charges are lower than guaranteed charges.

The Incentive Life '06, Incentive Life<sup>®</sup> Optimizer and Incentive Life Optimizer II mortality and expense risk charge of 0.85% will be in effect for the first eight policy years on a current basis. For policy years 9 and later, no charge is deducted on a current basis. The current mortality and expense risk charges are lower than the guaranteed charges.

The Incentive Life Optimizer III and VUL Optimizer<sup>SM</sup> mortality and expense risk charge of 0.60% will be in effect for the first eight policy years on a current basis. For policy years 9 and later, no charge is deducted on a current basis. The current mortality and expense risk charges are lower than the guaranteed charges.

The Incentive Life Legacy II and Incentive Life Legacy III mortality and expense risk charge of 0.85% will be in effect for the first fifteen policy years on a current basis. For policy years 16 and later, no charge is deducted on a current basis. The current mortality and expense risk charges for policy years 16 and later are lower than the guaranteed charges.

The VUL Legacy<sup>SM</sup> and VUL Incentive Life Protect<sup>SM</sup> mortality and expense risk charge of 0.50% will be in effect for the first fifteen policy years on a current basis. For policy years 16 and later, no charge is deducted on a current basis. The current mortality and expense risk charges are lower than the guaranteed charges.

The Survivorship Incentive Life<sup>®</sup> Legacy mortality and expense risk charge of 0.55% will be in effect for the first fifteen policy years. For policy years sixteen and later the charge is currently 0.05%. The current mortality and expense risk charges are lower than the guaranteed charges. For policies with the ENLG rider, there is an additional charge of 0.70% deducted until age 100 of the younger insured.

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**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**7.** Asset-based Charges and Contractowner Charges (Continued)

The VUL Survivorship mortality and expense risk charge of 0.80% will be in effect for the first fifteen policy years. For policy years sixteen and later, no charge is deducted on a current basis. The current mortality and expense risk charges are equal to or lower than the guaranteed charges.

The Corporate Owned Incentive Life<sup>®</sup> mortality and expense risk charge of 0.15% (0.35% of any account value allocated to MSO segments) will be in effect for the first ten policy years on a current basis. For policy years 11 and later, the charge will be 0.10% on a current basis. The current mortality and expense risk charges are lower than the guaranteed charges.

The COIL Institutional Series<sup>SM</sup> mortality and expense risk charge of 0.25% will be in effect for the first ten policy years on a current basis. For policy years 11 and later, the charge will be 0.05% on a current basis. The current mortality and expense risk charges are lower than the guaranteed charges.

The COIL Institutional Series, Series 162, mortality and expense risk charge of 0.35% will be in effect for the first ten policy years on a current basis. For policy years 11 and later, the charge will be 0.15% on a current basis. The current mortality and expense risk charges are lower than the guaranteed charges.

The Equitable Advantage mortality and expense risk charge of 0.40% will be in effect for the first eight policy years on a current basis. For policy years 9 and later, the charge will be 0.05% on a current basis. The current mortality and expense risk charges are lower than the guaranteed charges.

For IL 2000, IL Plus, IL Plus Original Series, IL 99, IL Optimizer, IL Optimizer II, IL Legacy II, IL Legacy III, IL Optimizer III and Corporate Owned Incentive Life<sup>®</sup> policies, there is an additional charge of 1.40% of any policy account value allocated to each segment of the Market Stabilizer Option on a current basis. The current percentage charge for MSO is lower than the guaranteed charge.

For VUL Legacy, VUL Optimizer, VUL Incentive Life Protect and COIL Institutional Series (including series 162) policies, there is an additional charge of 1.15% of any policy account value allocated to each segment of the Market Stabilizer Option on a current basis. The current percentage charge for MSO is lower than the guaranteed charge.

For Equitable Advantage policies, there is an additional charge of 0.40% of any policy account value allocated to each segment of the Market Stabilizer Option on a current basis. The current percentage charge for MSO is lower than the guaranteed charge.

For VUL Legacy, VUL Optimizer, COIL Institutional Series (including Series 162), Equitable Advantage and VUL Incentive Life Protect policies, there is an additional charge of 0.40% of any policy account value allocated to each segment of the Market Stabilizer Option II on a current basis. The current percentage charge for MSO II is lower than the guaranteed charge.

Before amounts are remitted to the Account for Incentive Life, IL Plus Original Series, IL Protector, Incentive Life Plus, Incentive Life COLI, Incentive Life COLI '04, Corporate Owned Incentive Life, and the Series 2000 Policies, Equitable Financial deducts a charge for taxes and either an initial policy fee (Incentive Life) or a premium charge (Incentive Life Plus, Survivorship Incentive Life 1999, Survivorship Incentive Life '02, Incentive Life 1999, Incentive Life '02, Incentive Life '06, Incentive Life Legacy, Paramount Life, IL Protector, Incentive Life COLI '04, IL Optimizer, IL Optimizer II, SIL Legacy, IL Legacy II, IL Legacy III, IL Optimizer III, Corporate Owned Incentive Life, VUL Legacy, VUL Optimizer, VUL Survivorship and COIL Institutional Series (including Series 162), Equitable Advantage, VUL Incentive Life Protect and Series 2000 Policies) from premiums.

Under SP-Flex, the entire initial premium is allocated to the Account. Before any additional premiums under SP-Flex are allocated to the Account, however, an administrative charge is deducted.

The COIL Institutional Series (including series 162), VUL Legacy, VUL Optimizer, VUL Survivorship, Equitable Advantage and VUL Incentive Life Protect policies have an expense reduction in the calculation of the daily unit values of each Variable Investment Option of the Account (the "Investment Expense Reduction"). The Investment Expense Reduction for each Variable Investment Option will be determined based upon the total annual portfolio operating expense after the application of any contractual expense limitation arrangements that are in place for more than one year ("Net Total

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**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**7.** Asset-based Charges and Contractowner Charges (Continued)

Annual Portfolio Operating Expenses") of each Variable Investment Option's corresponding Portfolio. The Investment Expense Reduction for each Variable Investment Option will be initially determined and then annually updated, based upon the Net Total Annual Portfolio Operating Expense of each Variable Investment Option's corresponding Portfolio as shown in the annual Portfolio prospectuses. The Investment Expense Reduction will be calculated based upon which of these three ranges the Net Total Annual Portfolio Operating Expense falls into; (1) less than 0.80%, (2) 0.80% through 1.15%, (3) or greater than 1.15%. The Investment Expense Reduction will be the amount equal to the greater of 0.15% and any excess of the Net Total Annual Portfolio Operating Expense over 0.40%, the amount equal to the greater of 0.15% and any excess of the Net Total Annual Portfolio Operating Expense over 0.80%, or 0.15%, respectively. In no event will the Annual Investment Expense Reduction exceed the Net Total Annual Portfolio Operating Expenses. These ranges and formula amounts will not change while the policy remains in effect.

Contractowners' accounts are assessed monthly by Equitable for mortality cost of insurance and optional rider benefit charges and administrative charges. SP-Flex mortality and expense and administrative charges are deducted daily. These charges are withdrawn from the Accounts along with amounts for additional benefits and are included in Redemptions for contract benefits and terminations and Contract maintenance charges. Policy loans are reported in the Statements of Changes in Net Assets, in Transfers between Variable Investment Options including guaranteed interest account, net. Surrenders are included in the Redemptions for contract benefits and terminations.

The table below lists all the fees charged by the Separate Account assessed as a redemption of units (except for those deducted from premium as noted); the range presented represents the fees that are actually assessed. Actual amounts may vary or may be zero depending on the Contract, election of riders, or Contractowner's account value. These charges are reflected as part of "Contractowners Transactions" in the Statement of Changes in Net Assets.

---

| | | | |
|:---|:---|:---|:---|
| **Charges** | **When charge**<br> **is deducted** | **Amount deducted** | **How deducted** |
| Riders | Monthly | Amount varies depending on the specifics of your policy. Depending on the rider, may be additional charges deducted from premiums and upon exercise of a policy continuation benefit. | Unit liquidation from account value |
| Death Benefit Guarantee (Guaranteed Minimum Death Benefit Charge) | Monthly | **Low** — $0.01 for each $1,000 of face amount of the policy <br> **High** — $0.02 for each $1,000 of face amount of the policy | Unit liquidation from account value |
| Charge for State and Local Tax Expense | At time of premium payment | Varies by state of residence of insured person. | Deducted from<br>premium |
| Charge for Federal Tax Expenses | At time of premium payment | 1.25% | Deducted from premium |
| Premium Charge | At time of premium payment | Depending on the policy, varies from a flat fee of $2 to $250 to a range of 2.25% to 30% of premiums | Deducted from premium |
| Monthly administrative charges | Monthly | **Low** — $8 per month <br> **High** — Depending on face amount, policyholder age at issue and policy year, up to $55 per month. Depending on the policy, may also be a charge per $1,000 of face amount ranging from $0.03 to $1.82 | Unit liquidation from account value |
| Cost of Insurance (COI) and Rating charge | Monthly | Amount varies depending upon specifics of policy. COI based upon amount at risk. Rating Charge based upon face amount of insurance. | Unit liquidation from account value |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**7.** Asset-based Charges and Contractowner Charges (Concluded)

---

| | | | |
|:---|:---|:---|:---|
| **Charges** | **When charge**<br> **is deducted** | **Amount deducted** | **How deducted** |
| Surrender, termination or decrease in face amount of policy during the first 10 or 15 years depending on Contract | At time of transaction | The amount of surrender charges if applicable is set forth in your policy. | Unit liquidation from account value |
| Partial Withdrawal | At time of transaction | $25 (or if less, 2% of the withdrawal), if applicable | Unit liquidation from account value |
| Increase in policy's face amount | At time of transaction | $1.50 for each $1,000 of the increase (but not more than $250 in total), if applicable | Unit liquidation from account value |
| Administrative Surrender Charge | At time of transaction | $2 to $6 per 1,000 depending on issue age which after the third year declines if applicable Depending on the policy, may also be a charge per policy ranging from $450 to $540 which after the third year declines | Unit liquidation from account value |
| Transfers among investment options | At time of transaction | **Low** — $25 after 12 transfers if applicable<br> **High** — $25 per transfer | Unit liquidation from account value |

---

**8**. Financial Highlights

The ranges for the total return ratios and unit values correspond to the product groupings that produced the lowest and highest expense ratios. The lowest and the highest contract charge represents the annual contract expenses consisting of mortality, expense risk, financial accounting and other expenses, for each period indicated. This ratio includes only those expenses that result in direct reduction to unit value. Charges made directly to Contractowner account through the redemption of units and expenses of the respective Portfolio have been excluded. The summary may not reflect the minimum and maximum contract charges offered by the Company as Contractowners may not have selected all available and applicable contract options. Due to the timing of the introduction of new products into the Variable Account, contract charges and related unit values and total returns may fall outside of the ranges presented in the financial highlights.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>1290 VT Convertible</u>**<br> **<u>Securities (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 343 | $10831 | $228.73 | $242.41 | 0.00% | 0.60% | 1.77% | 15.07% | 15.94% |
| 2024 | 254 | $7129 | $198.77 | $209.40 | 0.00% | 0.60% | 1.99% | 9.12% | 9.95% |
| 2023 | 197 | $5524 | $19.07 | $182.16 | 0.00% | 0.60% | 2.71% | 13.00% | 13.65% |
| 2022 | 135 | $4151 | $16.78 | $161.20 | 0.00% | 0.60% | 1.36% | (21.40)% | (20.92)% |
| 2021 | 97 | $4053 | $21.22 | $205.09 | 0.00% | 0.60% | 10.50% | 0.39% | 1.00% |
|  **<u>1290 VT DoubleLine</u>**<br> **<u>Opportunistic Bond (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 841 | $16867 | $109.71 | $115.58 | 0.00% | 0.60% | 5.31% | 6.60% | 7.41% |
| 2024 | 588 | $10862 | $102.92 | $107.78 | 0.00% | 0.60% | 5.08% | 2.21% | 3.00% |
| 2023 | 339 | $8182 | $100.69 | $104.80 | 0.00% | 0.60% | 5.67% | 5.90% | 6.54% |
| 2022 | 187 | $4043 | $95.08 | $98.37 | 0.00% | 0.60% | 3.71% | (13.91)% | (13.39)% |
| 2021 | 111 | $3088 | $110.44 | $113.58 | 0.00% | 0.60% | 2.22% | (1.04)% | (0.44)% |
|  **<u>1290 VT Equity Income</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 107 | $27722 | $282.48 | $460.94 | 0.00% | 0.90% | 2.19% | 11.92% | 13.11% |
| 2024 | 106 | $25199 | $252.40 | $408.14 | 0.00% | 0.90% | 2.03% | 8.81% | 10.01% |
| 2023 | 83 | $20009 | $241.12 | $371.71 | 0.00% | 0.60% | 2.07% | 4.78% | 5.41% |
| 2022 | 70 | $21182 | $230.12 | $352.63 | 0.00% | 0.60% | 1.86% | 2.45% | 3.07% |
| 2021 | 66 | $20325 | $224.61 | $342.13 | 0.00% | 0.60% | 1.50% | 25.63% | 26.39% |

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------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>1290 VT GAMCO Mergers &</u>**<br> **<u>Acquisitions (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 183 | $21345 | $191.41 | $282.71 | 0.00% | 0.90% | 2.95% | 14.87% | 16.09% |
| 2024 | 184 | $19751 | $166.63 | $243.89 | 0.00% | 0.90% | 2.03% | 8.07% | 9.22% |
| 2023 | 100 | $14999 | $154.19 | $223.64 | 0.00% | 0.90% | 1.85% | 8.54% | 9.52% |
| 2022 | 97 | $14427 | $142.06 | $204.20 | 0.00% | 0.90% | 0.31% | (6.86)% | (6.02)% |
| 2021 | 95 | $16930 | $152.53 | $217.29 | 0.00% | 0.90% | 0.69% | 10.38% | 11.39% |
|  **<u>1290 VT GAMCO Small</u>**<br> **<u>Company Value (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1182 | $306699 | $472.02 | $855.75 | 0.00% | 0.90% | 0.66% | 11.81% | 13.11% |
| 2024 | 1016 | $270339 | $422.16 | $758.48 | 0.00% | 0.90% | 0.61% | 10.57% | 11.90% |
| 2023 | 598 | $238453 | $381.81 | $679.77 | 0.00% | 0.90% | 0.64% | 19.96% | 21.05% |
| 2022 | 535 | $202031 | $318.27 | $561.57 | 0.00% | 0.90% | 0.53% | (11.48)% | (10.68)% |
| 2021 | 502 | $234080 | $359.55 | $628.70 | 0.00% | 0.90% | 0.64% | 24.01% | 25.14% |
|  **<u>1290 VT Multi-Alternative</u>**<br> **<u>Strategies (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 60 | $909 | $12.72 | $113.21 | 0.00% | 0.00% | 2.12% | 13.54% | 13.57% |
| 2024 | 47 | $663 | $11.20 | $99.71 | 0.00% | 0.00% | 2.80% | 9.27% | 9.32% |
| 2023 | 30 | $350 | $10.25 | $10.25 | 0.00% | 0.00% | 3.47% | 5.24% | 5.24% |
| 2022 | 8 | $102 | $9.74 | $9.74 | 0.00% | 0.00% | 3.37% | (11.21)% | (11.21)% |
| 2021 | 1 | $6 | $10.97 | $10.97 | 0.00% | 0.00% | 5.23% | 3.10% | 3.10% |
|  **<u>1290 VT Natural Resources</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 109 | $2737 | $18.48 | $195.67 | 0.00% | 0.00% | 2.96% | 28.16% | 28.19% |
| 2024 | 89 | $1756 | $14.42 | $152.64 | 0.00% | 0.00% | 3.09% | (5.36)% | (5.32)% |
| 2023 | 71 | $1535 | $151.57 | $151.57 | 0.00% | 0.00% | 3.76% | 1.23% | 1.23% |
| 2022 | 42 | $1054 | $149.73 | $149.73 | 0.00% | 0.00% | 5.92% | 32.69% | 32.69% |
| 2021 | 12 | $278 | $112.84 | $112.84 | 0.00% | 0.00% | 7.46% | 30.18% | 30.18% |
|  **<u>1290 VT Real Estate (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 226 | $2999 | $10.69 | $98.60 | 0.00% | 0.00% | 3.22% | 9.82% | 9.87% |
| 2024 | 173 | $2082 | $9.73 | $89.78 | 0.00% | 0.00% | 3.65% | 0.93% | 0.99% |
| 2023 | 108 | $1323 | $9.64 | $9.64 | 0.00% | 0.00% | 3.90% | 9.67% | 9.67% |
| 2022 | 31 | $390 | $8.79 | $8.79 | 0.00% | 0.00% | 0.25% | (24.94)% | (24.94)% |
| 2021 | 14 | $183 | $11.71 | $11.71 | 0.00% | 0.00% | 4.54% | 26.05% | 26.05% |
|  **<u>1290 VT Small Cap Value</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 288 | $47378 | $243.57 | $256.24 | 0.00% | 0.90% | 1.23% | 5.13% | 6.25% |
| 2024 | 271 | $46153 | $231.68 | $241.54 | 0.00% | 0.90% | 1.50% | 19.71% | 21.07% |
| 2023 | 238 | $38536 | $159.68 | $193.53 | 0.00% | 0.90% | 1.18% | 4.79% | 6.11% |
| 2022 | 229 | $37833 | $150.49 | $184.68 | 0.00% | 0.90% | 0.43% | (0.81)% | 0.44% |
| 2021 | 229 | $40671 | $149.83 | $186.19 | 0.00% | 0.90% | 1.14% | 37.32% | 39.05% |
|  **<u>1290 VT SmartBeta Equity</u>**<br> **<u>ESG (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 308 | $23260 | $159.28 | $271.14 | 0.00% | 0.90% | 0.78% | 12.95% | 14.34% |
| 2024 | 284 | $19782 | $141.02 | $237.89 | 0.00% | 0.90% | 0.98% | 15.32% | 16.74% |
| 2023 | 276 | $15467 | $20.44 | $122.29 | 0.00% | 0.90% | 1.38% | 15.51% | 16.53% |
| 2022 | 292 | $13307 | $17.54 | $105.87 | 0.00% | 0.90% | 2.12% | (14.56)% | (1.48)% |
| 2021 | 194 | $6718 | $20.53 | $198.42 | 0.00% | 0.60% | 1.32% | 22.35% | 23.08% |
|  **<u>1290 VT Socially Responsible</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 46 | $7945 | $466.61 | $945.42 | 0.00% | 0.90% | 0.38% | 16.16% | 17.41% |
| 2024 | 53 | $7395 | $401.69 | $806.56 | 0.00% | 0.90% | 0.44% | 20.58% | 21.90% |
| 2023 | 67 | $6429 | $333.14 | $415.28 | 0.00% | 0.90% | 0.85% | 26.36% | 27.50% |
| 2022 | 50 | $4677 | $263.65 | $325.71 | 0.00% | 0.90% | 0.63% | (22.81)% | (22.11)% |
| 2021 | 35 | $6121 | $341.56 | $418.17 | 0.00% | 0.90% | 0.56% | 29.14% | 30.31% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>AB VPS Discovery Value</u>**<br> **<u>Portfolio (Class B)</u>** |  |  |  |  |  |  |  |  |  |  |
| 2025 | 11 |  | $216 | $12.81 | $128.07 | 0.00% | 0.00% | 0.60% | 2.89% | 2.90% |
| 2024 | 11 |  | $194 | $12.45 | $124.46 | 0.00% | 0.00% | 0.63% | 10.01% | 10.08% |
| 2023 | 16 |  | $217 | $11.31 | $11.31 | 0.00% | 0.00% | 1.02% | 17.08% | 17.08% |
| 2022 | 1 |  | $22 | $9.66 | $9.66 | 0.00% | 0.00% | 0.10% | (1.23)% | (1.23)% |
|  **<u>American Funds Insurance</u>**<br> **<u>Series<sup>®</sup> Asset Allocation Fund</u>**<br> **<u>(Class 4)</u>** |  |  |  |  |  |  |  |  |  |  |
| 2025 | 576 |  | $11699 | $14.01 | $140.07 | 0.00% | 0.00% | 1.93% | 15.94% | 15.98% |
| 2024 | 532 |  | $8982 | $12.08 | $120.81 | 0.00% | 0.00% | 2.20% | 16.27% | 16.29% |
| 2023 | 407 |  | $5766 | $10.39 | $10.39 | 0.00% | 0.00% | 2.39% | 14.18% | 14.18% |
| 2022 | 235 |  | $2661 | $9.10 | $9.10 | 0.00% | 0.00% | 2.37% | (13.50)% | (13.50)% |
| 2021 | 31 |  | $550 | $10.52 | $10.52 | 0.00% | 0.00% | 3.55% | 4.57% | 4.57% |
|  **<u>American Funds Insurance</u>**<br> **<u>Series<sup>®</sup> Global Small</u>**<br> **<u>Capitalization Fund (Class 4)</u>** |  |  |  |  |  |  |  |  |  |  |
| 2025 | 518 |  | $24099 | $200.54 | $224.83 | 0.00% | 0.90% | 0.21% | 13.30% | 14.66% |
| 2024 | 430 |  | $20024 | $177.00 | $196.65 | 0.00% | 0.90% | 0.83% | 1.19% | 2.31% |
| 2023 | 379 |  | $18475 | $174.91 | $192.57 | 0.00% | 0.90% | 0.03% | 14.75% | 15.78% |
| 2022 | 301 |  | $15042 | $152.43 | $166.32 | 0.00% | 0.90% | 0.00% | (30.32)% | (29.69)% |
| 2021 | 264 |  | $20490 | $218.76 | $236.55 | 0.00% | 0.90% | 0.00% | 5.47% | 6.43% |
|  **<u>American Funds Insurance</u>**<br> **<u>Series<sup>®</sup> New World Fund<sup>®</sup></u>**<br> **<u>(Class 4)</u>** |  |  |  |  |  |  |  |  |  |  |
| 2025 | 1699 |  | $66529 | $200.03 | $224.26 | 0.00% | 0.90% | 0.96% | 26.78% | 28.27% |
| 2024 | 1503 |  | $53668 | $157.78 | $175.31 | 0.00% | 0.90% | 1.18% | 5.37% | 6.66% |
| 2023 | 1327 |  | $50758 | $149.74 | $164.87 | 0.00% | 0.90% | 1.28% | 14.63% | 15.67% |
| 2022 | 1121 |  | $40619 | $130.63 | $142.53 | 0.00% | 0.90% | 1.12% | (22.95)% | (22.25)% |
| 2021 | 950 |  | $48732 | $169.54 | $183.33 | 0.00% | 0.90% | 0.67% | 3.69% | 4.63% |
|  **<u>BlackRock Global Allocation</u>**<br> **<u>V.I. Fund (Class III)</u>** |  |  |  |  |  |  |  |  |  |  |
| 2025 | 411 |  | $10248 | $16.52 | $264.82 | 0.00% | 0.00% | 4.82% | 19.49% | 19.80% |
| 2024 | 334 |  | $7182 | $13.79 | $221.59 | 0.00% | 0.00% | 1.53% | 8.93% | 9.18% |
| 2023 | 302 |  | $6212 | $203.43 | $203.43 | 0.00% | 0.00% | 2.18% | 12.49% | 12.49% |
| 2022 | 395 |  | $7269 | $180.84 | $180.84 | 0.00% | 0.00% | 0.00% | (16.08)% | (16.08)% |
| 2021 | 380 |  | $9351 | $215.48 | $215.48 | 0.00% | 0.00% | 0.83% | 6.42% | 6.42% |
|  **<u>EQ/400 Managed Volatility</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/400 Managed Volatility</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/400 Managed Volatility</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |
| 2025 | 18 |  | $6678 | $332.06 | $382.67 | 0.00% | 0.90% | 0.91% | 2.38% | 3.31% |
| 2024 | 21 |  | $7088 | $324.33 | $370.41 | 0.00% | 0.90% | 1.12% | 11.86% | 12.89% |
| 2023 | 19 |  | $6226 | $289.94 | $328.13 | 0.00% | 0.90% | 1.15% | 14.40% | 15.44% |
| 2022 | 21 |  | $5959 | $253.44 | $284.25 | 0.00% | 0.90% | 0.75% | (16.27)% | (15.51)% |
| 2021 | 23 |  | $7532 | $302.70 | $336.44 | 0.00% | 0.90% | 0.40% | 22.56% | 23.67% |
|  **<u>EQ/500 Managed Volatility</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/500 Managed Volatility</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/500 Managed Volatility</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |
| 2025 | 59 |  | $33587 | $507.38 | $584.70 | 0.00% | 0.90% | 0.78% | 12.33% | 13.35% |
| 2024 | 63 |  | $31691 | $451.69 | $515.84 | 0.00% | 0.90% | 1.10% | 22.79% | 23.91% |
| 2023 | 64 |  | $26193 | $367.85 | $416.30 | 0.00% | 0.90% | 1.19% | 24.12% | 25.24% |
| 2022 | 62 |  | $20355 | $296.37 | $332.39 | 0.00% | 0.90% | 0.84% | (20.71)% | (19.99)% |
| 2021 | 60 |  | $24787 | $373.77 | $415.44 | 0.00% | 0.90% | 0.57% | 26.46% | 27.61% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>EQ/2000 Managed Volatility</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/2000 Managed Volatility</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/2000 Managed Volatility</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 26 |  | $8354 |  | $286.16 | $329.77 | 0.00% | 0.90% | 0.99% | 8.33% | 9.31% |
| 2024 | 27 |  | $7915 |  | $264.16 | $301.69 | 0.00% | 0.90% | 1.42% | 9.67% | 10.67% |
| 2023 | 28 |  | $7401 |  | $240.87 | $272.60 | 0.00% | 0.90% | 1.27% | 14.94% | 15.98% |
| 2022 | 30 |  | $6684 |  | $209.56 | $235.04 | 0.00% | 0.90% | 0.74% | (23.10)% | (22.40)% |
| 2021 | 30 |  | $8685 |  | $272.52 | $302.90 | 0.00% | 0.90% | 0.39% | 12.90% | 13.93% |
|  **<u>EQ/AB Small Cap Growth</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/AB Small Cap Growth</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/AB Small Cap Growth</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1027 |  | $259850 |  | $808.15 | $1047.31 | 0.00% | 0.90% | 0.15% | 8.26% | 9.41% |
| 2024 | 973 |  | $250818 |  | $746.50 | $958.71 | 0.00% | 0.90% | 0.29% | 12.88% | 14.08% |
| 2023 | 504 |  | $95859 |  | $531.22 | $690.82 | 0.00% | 0.60% | 0.26% | 17.02% | 17.73% |
| 2022 | 373 |  | $82109 |  | $453.95 | $586.80 | 0.00% | 0.60% | 0.14% | (28.89)% | (28.46)% |
| 2021 | 237 |  | $104455 |  | $638.36 | $820.23 | 0.00% | 0.60% | 0.00% | 12.24% | 12.92% |
|  **<u>EQ/Aggressive Allocation</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/Aggressive Allocation</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/Aggressive Allocation</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1203 |  | $205420 |  | $410.98 | $502.54 | 0.00% | 0.90% | 1.45% | 11.93% | 13.12% |
| 2024 | 1058 |  | $191293 |  | $367.19 | $444.96 | 0.00% | 0.90% | 2.15% | 12.70% | 14.00% |
| 2023 | 790 |  | $113154 |  | $339.30 | $383.26 | 0.00% | 0.60% | 1.38% | 17.73% | 18.44% |
| 2022 | 624 |  | $96973 |  | $288.20 | $323.60 | 0.00% | 0.60% | 0.89% | (18.85)% | (18.36)% |
| 2021 | 409 |  | $115510 |  | $355.14 | $396.36 | 0.00% | 0.60% | 4.14% | 16.48% | 17.18% |
|  **<u>EQ/All Asset Growth</u>**<br> **<u>Allocation (Class IB)</u>** | **<u>EQ/All Asset Growth</u>**<br> **<u>Allocation (Class IB)</u>** | **<u>EQ/All Asset Growth</u>**<br> **<u>Allocation (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 294 |  | $49531 |  | $251.94 | $290.34 | 0.00% | 0.90% | 2.27% | 16.14% | 17.38% |
| 2024 | 290 |  | $43468 |  | $216.92 | $247.74 | 0.00% | 0.90% | 2.35% | 10.16% | 11.34% |
| 2023 | 282 |  | $39759 |  | $196.91 | $222.85 | 0.00% | 0.90% | 1.89% | 13.13% | 14.16% |
| 2022 | 268 |  | $35632 |  | $174.05 | $195.21 | 0.00% | 0.90% | 1.30% | (15.24)% | (14.47)% |
| 2021 | 281 |  | $42856 |  | $205.35 | $228.24 | 0.00% | 0.90% | 3.97% | 9.93% | 10.93% |
|  **<u>EQ/American Century Mid</u>**<br> **<u>Cap Value (Class IB)</u>** | **<u>EQ/American Century Mid</u>**<br> **<u>Cap Value (Class IB)</u>** | **<u>EQ/American Century Mid</u>**<br> **<u>Cap Value (Class IB)</u>** | **<u>EQ/American Century Mid</u>**<br> **<u>Cap Value (Class IB)</u>** | **<u>EQ/American Century Mid</u>**<br> **<u>Cap Value (Class IB)</u>** |  |  |  |  |  |  |  |
| 2025 | 897 |  | $108019 |  | $372.67 | $429.48 | 0.00% | 0.90% | 1.50% | 7.75% | 8.99% |
| 2024 | 892 |  | $103848 |  | $345.86 | $394.99 | 0.00% | 0.90% | 1.75% | 7.36% | 8.58% |
| 2023 | 869 |  | $105437 |  | $36.46 | $322.16 | 0.00% | 0.90% | 1.69% | 5.04% | 5.99% |
| 2022 | 808 |  | $102288 |  | $34.40 | $306.69 | 0.00% | 0.90% | 2.87% | (2.37)% | (1.49)% |
| 2021 | 707 |  | $108137 |  | $34.92 | $314.15 | 0.00% | 0.90% | 1.13% | 21.90% | 23.00% |
|  **<u>EQ/Balanced Strategy</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/Balanced Strategy</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/Balanced Strategy</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 201 |  | $50724 |  | $252.39 | $252.39 | 0.00% | 0.00% | 2.34% | 10.07% | 10.07% |
| 2024 | 208 |  | $47716 |  | $229.29 | $229.29 | 0.00% | 0.00% | 2.68% | 9.14% | 9.14% |
| 2023 | 214 |  | $44958 |  | $210.08 | $210.08 | 0.00% | 0.00% | 1.55% | 13.23% | 13.23% |
| 2022 | 232 |  | $43063 |  | $185.54 | $185.54 | 0.00% | 0.00% | 0.92% | (15.57)% | (15.57)% |
| 2021 | 244 |  | $53702 |  | $219.75 | $219.75 | 0.00% | 0.00% | 1.82% | 9.49% | 9.49% |
|  **<u>EQ/Capital Group Research</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | 291 |  | $209015 |  | $789.60 | $1319.03 | 0.00% | 0.90% | 0.45% | 18.75% | 19.83% |
| 2024 | 314 |  | $190511 |  | $664.91 | $1100.74 | 0.00% | 0.90% | 1.66% | 28.69% | 29.87% |
| 2023 | 233 |  | $131956 |  | $516.66 | $643.79 | 0.00% | 0.90% | 0.34% | 21.88% | 22.99% |
| 2022 | 256 |  | $118468 |  | $423.90 | $523.46 | 0.00% | 0.90% | 0.17% | (19.71)% | (18.98)% |
| 2021 | 270 |  | $155332 |  | $527.94 | $646.08 | 0.00% | 0.90% | 0.00% | 21.95% | 23.06% |
|  **<u>EQ/ClearBridge Large Cap</u>**<br> **<u>Growth ESG (Class IB)</u>** |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | 323 |  | $138681 |  | $603.44 | $1338.18 | 0.00% | 0.90% | 0.00% | 6.72% | 7.92% |
| 2024 | 326 |  | $135114 |  | $565.44 | $1242.65 | 0.00% | 0.90% | 0.00% | 25.61% | 27.01% |
| 2023 | 261 |  | $99131 |  | $450.16 | $560.93 | 0.00% | 0.90% | 0.00% | 44.57% | 45.88% |
| 2022 | 269 |  | $73629 |  | $311.38 | $384.52 | 0.00% | 0.90% | 0.00% | (32.73)% | (32.12)% |
| 2021 | 261 |  | $109690 |  | $462.86 | $566.44 | 0.00% | 0.90% | 0.00% | 20.62% | 21.72% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>EQ/Common Stock Index</u>**<br> **<u>(Class IA)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 780 | $2079903 | $1802.81 | $1904.28 | 0.00% | 0.90% | 0.62% | 15.26% | 16.30% |
| 2024 | 885 | $1931465 | $1564.19 | $1637.37 | 0.00% | 0.90% | 0.77% | 21.96% | 23.07% |
| 2023 | 895 | $1681552 | $1282.57 | $1330.43 | 0.00% | 0.90% | 1.12% | 24.01% | 25.13% |
| 2022 | 967 | $1450640 | $1034.25 | $1063.22 | 0.00% | 0.90% | 0.77% | (20.21)% | (19.49)% |
| 2021 | 1021 | $1929659 | $1296.28 | $1320.62 | 0.00% | 0.90% | 0.69% | 23.81% | 24.93% |
|  **<u>EQ/Common Stock Index</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 2368 | $538063 | $594.63 | $610.52 | 0.00% | 0.60% | 0.62% | 15.59% | 16.61% |
| 2024 | 2081 | $468568 | $511.34 | $528.16 | 0.00% | 0.60% | 0.77% | 22.33% | 23.45% |
| 2023 | 1719 | $382183 | $415.48 | $431.76 | 0.00% | 0.60% | 1.12% | 24.38% | 25.13% |
| 2022 | 1430 | $304635 | $332.03 | $347.12 | 0.00% | 0.60% | 0.77% | (19.97)% | (19.49)% |
| 2021 | 1143 | $376703 | $412.42 | $433.75 | 0.00% | 0.60% | 0.69% | 24.18% | 24.93% |
|  **<u>EQ/Conservative</u>**<br> **<u>Allocation (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 247 | $18413 | $169.56 | $207.34 | 0.00% | 0.90% | 3.15% | 6.52% | 7.72% |
| 2024 | 281 | $18281 | $159.18 | $192.89 | 0.00% | 0.90% | 3.09% | 3.69% | 4.90% |
| 2023 | 113 | $7813 | $159.87 | $180.59 | 0.00% | 0.60% | 2.40% | 7.30% | 7.95% |
| 2022 | 81 | $7170 | $148.99 | $167.29 | 0.00% | 0.60% | 1.29% | (13.12)% | (12.59)% |
| 2021 | 66 | $8386 | $171.49 | $191.39 | 0.00% | 0.60% | 1.40% | 2.10% | 2.70% |
|  **<u>EQ/Conservative Growth</u>**<br> **<u>Strategy (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 42 | $9319 | $219.80 | $219.80 | 0.00% | 0.00% | 2.60% | 9.36% | 9.36% |
| 2024 | 43 | $8655 | $200.98 | $200.98 | 0.00% | 0.00% | 2.76% | 7.63% | 7.63% |
| 2023 | 45 | $8324 | $186.73 | $186.73 | 0.00% | 0.00% | 1.61% | 11.58% | 11.58% |
| 2022 | 45 | $7538 | $167.35 | $167.35 | 0.00% | 0.00% | 0.96% | (14.52)% | (14.52)% |
| 2021 | 46 | $8927 | $195.77 | $195.77 | 0.00% | 0.00% | 1.57% | 7.09% | 7.09% |
|  **<u>EQ/Conservative Strategy</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 18 | $3037 | $165.45 | $165.45 | 0.00% | 0.00% | 2.93% | 7.84% | 7.84% |
| 2024 | 19 | $2982 | $153.42 | $153.42 | 0.00% | 0.00% | 2.92% | 4.80% | 4.80% |
| 2023 | 20 | $2982 | $146.40 | $146.40 | 0.00% | 0.00% | 1.69% | 8.28% | 8.28% |
| 2022 | 25 | $3356 | $135.20 | $135.20 | 0.00% | 0.00% | 1.03% | (12.27)% | (12.27)% |
| 2021 | 22 | $3316 | $154.11 | $154.11 | 0.00% | 0.00% | 1.10% | 2.46% | 2.46% |
|  **<u>EQ/Conservative-Plus</u>**<br> **<u>Allocation (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 388 | $31687 | $218.20 | $266.82 | 0.00% | 0.90% | 2.60% | 8.05% | 9.19% |
| 2024 | 379 | $30117 | $201.95 | $244.72 | 0.00% | 0.90% | 2.72% | 6.06% | 7.32% |
| 2023 | 168 | $17174 | $198.31 | $224.01 | 0.00% | 0.60% | 1.96% | 10.26% | 10.93% |
| 2022 | 128 | $15167 | $179.85 | $201.94 | 0.00% | 0.60% | 1.25% | (15.06)% | (14.55)% |
| 2021 | 92 | $17445 | $211.75 | $236.33 | 0.00% | 0.60% | 2.15% | 6.09% | 6.73% |
|  **<u>EQ/Core Bond Index</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1761 | $118940 | $132.81 | $165.10 | 0.00% | 0.90% | 3.17% | 5.44% | 6.67% |
| 2024 | 1324 | $104620 | $125.96 | $155.17 | 0.00% | 0.90% | 2.59% | 1.50% | 2.68% |
| 2023 | 921 | $70441 | $150.61 | $161.76 | 0.00% | 0.60% | 2.24% | 3.93% | 4.56% |
| 2022 | 683 | $59759 | $144.04 | $155.64 | 0.00% | 0.60% | 1.64% | (9.29)% | (8.74)% |
| 2021 | 533 | $63898 | $157.84 | $171.58 | 0.00% | 0.60% | 1.50% | (2.68)% | (2.10)% |
|  **<u>EQ/Core Plus Bond</u>**<br> **<u>(Class IA)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 457 | $66009 | $254.54 | $282.38 | 0.00% | 0.90% | 5.23% | 7.48% | 8.45% |
| 2024 | 441 | $63797 | $236.83 | $260.37 | 0.00% | 0.90% | 5.09% | (1.57)% | (0.67)% |
| 2023 | 378 | $65095 | $240.61 | $262.13 | 0.00% | 0.90% | 2.40% | 3.59% | 4.53% |
| 2022 | 305 | $62648 | $232.28 | $250.78 | 0.00% | 0.90% | 3.20% | (13.72)% | (12.94)% |
| 2021 | 298 | $65378 | $269.21 | $288.04 | 0.00% | 0.90% | 1.50% | (2.57)% | (1.68)% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>EQ/Core Plus Bond</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 618 | $56026 | $125.83 | $171.06 | 0.00% | 0.60% | 5.23% | 7.95% | 8.82% |
| 2024 | 474 | $50519 | $116.56 | $157.50 | 0.00% | 0.60% | 5.09% | (1.27)% | (0.52)% |
| 2023 | 442 | $51344 | $118.06 | $158.57 | 0.00% | 0.60% | 2.40% | 3.90% | 4.52% |
| 2022 | 400 | $47339 | $113.63 | $151.71 | 0.00% | 0.60% | 3.20% | (13.46)% | (12.94)% |
| 2021 | 185 | $28445 | $131.30 | $174.25 | 0.00% | 0.60% | 1.50% | (2.27)% | (1.68)% |
|  **<u>EQ/Emerging Markets</u>**<br> **<u>Equity PLUS (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 278 | $5564 | $15.14 | $161.78 | 0.00% | 0.00% | 2.63% | 33.65% | 33.75% |
| 2024 | 186 | $2941 | $11.32 | $121.04 | 0.00% | 0.00% | 2.42% | 4.04% | 4.13% |
| 2023 | 160 | $2379 | $116.24 | $116.24 | 0.00% | 0.00% | 3.23% | 10.53% | 10.53% |
| 2022 | 92 | $1327 | $105.17 | $105.17 | 0.00% | 0.00% | 2.70% | (17.46)% | (17.46)% |
| 2021 | 47 | $832 | $127.41 | $127.41 | 0.00% | 0.00% | 2.24% | (0.43)% | (0.43)% |
|  **<u>EQ/Equity 500 Index</u>**<br> **<u>(Class IA)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1802 | $1142630 | $1730.99 | $2284.26 | 0.00% | 0.90% | 0.77% | 16.18% | 17.24% |
| 2024 | 1680 | $1018694 | $1489.89 | $1948.42 | 0.00% | 0.90% | 0.90% | 23.19% | 24.32% |
| 2023 | 1699 | $861767 | $1209.42 | $1567.32 | 0.00% | 0.90% | 1.13% | 24.45% | 25.57% |
| 2022 | 1663 | $711039 | $971.83 | $1248.13 | 0.00% | 0.90% | 1.07% | (19.27)% | (18.54)% |
| 2021 | 1564 | $898180 | $1203.81 | $1532.17 | 0.00% | 0.90% | 0.87% | 26.82% | 27.97% |
|  **<u>EQ/Equity 500 Index</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 10426 | $1298778 | $608.57 | $691.27 | 0.00% | 0.60% | 0.77% | 16.53% | 17.41% |
| 2024 | 7327 | $994706 | $522.26 | $589.67 | 0.00% | 0.60% | 0.90% | 23.57% | 24.51% |
| 2023 | 5526 | $718621 | $422.66 | $474.34 | 0.00% | 0.60% | 1.13% | 24.82% | 25.57% |
| 2022 | 3951 | $529275 | $338.61 | $377.74 | 0.00% | 0.60% | 1.07% | (19.03)% | (18.54)% |
| 2021 | 2398 | $596420 | $418.17 | $463.70 | 0.00% | 0.60% | 0.87% | 27.21% | 27.97% |
|  **<u>EQ/Fidelity Institutional</u>**<br> **<u>AM<sup>®</sup> Large Cap (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 383 | $195652 | $582.63 | $1273.41 | 0.00% | 0.90% | 0.29% | 17.28% | 18.35% |
| 2024 | 461 | $204238 | $496.77 | $1075.99 | 0.00% | 0.90% | 0.38% | 23.38% | 24.51% |
| 2023 | 462 | $164539 | $68.89 | $402.62 | 0.00% | 0.90% | 0.45% | 30.21% | 31.39% |
| 2022 | 499 | $130365 | $52.43 | $309.22 | 0.00% | 0.90% | 0.51% | (21.77)% | (21.06)% |
| 2021 | 507 | $167356 | $66.42 | $395.28 | 0.00% | 0.90% | 0.39% | 24.09% | 25.20% |
|  **<u>EQ/Franklin Rising</u>**<br> **<u>Dividends (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 687 | $107360 | $478.77 | $551.74 | 0.00% | 0.90% | 0.77% | 10.83% | 12.04% |
| 2024 | 575 | $97160 | $432.00 | $493.37 | 0.00% | 0.90% | 0.89% | 9.78% | 10.97% |
| 2023 | 535 | $89856 | $393.50 | $445.33 | 0.00% | 0.90% | 1.13% | 11.13% | 12.13% |
| 2022 | 368 | $79581 | $354.10 | $397.15 | 0.00% | 0.90% | 0.77% | (11.42)% | (10.61)% |
| 2021 | 244 | $88210 | $399.74 | $444.30 | 0.00% | 0.90% | 0.68% | 25.64% | 26.78% |
|  **<u>EQ/Global Equity Managed</u>**<br> **<u>Volatility (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 273 | $163057 | $511.52 | $1232.96 | 0.00% | 0.90% | 0.83% | 18.06% | 19.13% |
| 2024 | 291 | $146760 | $433.26 | $1034.93 | 0.00% | 0.90% | 1.25% | 11.60% | 12.62% |
| 2023 | 241 | $107475 | $388.21 | $492.69 | 0.00% | 0.90% | 0.88% | 20.24% | 21.33% |
| 2022 | 257 | $94673 | $322.85 | $406.07 | 0.00% | 0.90% | 0.35% | (21.66)% | (20.94)% |
| 2021 | 268 | $125512 | $412.09 | $513.65 | 0.00% | 0.90% | 0.90% | 14.85% | 15.89% |
|  **<u>EQ/Goldman Sachs Mid</u>**<br> **<u>Cap Value (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 224 | $23434 | $356.22 | $410.52 | 0.00% | 0.90% | 1.06% | 8.22% | 9.52% |
| 2024 | 183 | $21111 | $329.15 | $375.91 | 0.00% | 0.90% | 0.72% | 10.90% | 12.26% |
| 2023 | 166 | $17397 | $296.80 | $335.90 | 0.00% | 0.90% | 0.77% | 10.23% | 11.23% |
| 2022 | 112 | $14991 | $269.26 | $302.00 | 0.00% | 0.90% | 0.62% | (11.42)% | (10.61)% |
| 2021 | 84 | $16577 | $303.96 | $337.85 | 0.00% | 0.90% | 0.28% | 29.33% | 30.50% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>EQ/Growth Strategy</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 318 | $105457 | $332.10 | $332.10 | 0.00% | 0.00% | 1.88% | 11.46% | 11.46% |
| 2024 | 327 | $97474 | $297.95 | $297.95 | 0.00% | 0.00% | 2.43% | 12.39% | 12.39% |
| 2023 | 333 | $88355 | $265.11 | $265.11 | 0.00% | 0.00% | 1.43% | 16.50% | 16.50% |
| 2022 | 337 | $76768 | $227.56 | $227.56 | 0.00% | 0.00% | 0.88% | (17.44)% | (17.44)% |
| 2021 | 336 | $92505 | $275.62 | $275.62 | 0.00% | 0.00% | 2.31% | 14.33% | 14.33% |
|  **<u>EQ/Intermediate</u>**<br> **<u>Corporate Bond (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 92 | $1132 | $11.58 | $115.77 | 0.00% | 0.00% | 9.00% | 9.28% | 9.35% |
| 2024 | 6 | $72 | $10.59 | $105.94 | 0.00% | 0.00% | 10.50% | 4.33% | 4.35% |
|  **<u>EQ/Intermediate</u>**<br> **<u>Government Bond</u>**<br> **<u>(Class IA)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 304 | $30593 | $206.71 | $262.01 | 0.00% | 0.90% | 3.00% | 4.57% | 5.52% |
| 2024 | 258 | $28792 | $197.68 | $248.30 | 0.00% | 0.90% | 2.54% | 1.48% | 2.40% |
| 2023 | 255 | $27456 | $194.80 | $242.48 | 0.00% | 0.90% | 2.88% | 2.94% | 3.87% |
| 2022 | 243 | $24834 | $189.24 | $233.44 | 0.00% | 0.90% | 0.92% | (8.47)% | (7.64)% |
| 2021 | 259 | $28651 | $206.76 | $252.76 | 0.00% | 0.90% | 0.71% | (3.01)% | (2.13)% |
|  **<u>EQ/Intermediate</u>**<br> **<u>Government Bond (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 246 | $23042 | $160.35 | $188.27 | 0.00% | 0.60% | 3.00% | 4.96% | 5.91% |
| 2024 | 189 | $21054 | $152.77 | $178.30 | 0.00% | 0.60% | 2.54% | 1.78% | 2.65% |
| 2023 | 173 | $21511 | $150.10 | $174.12 | 0.00% | 0.60% | 2.88% | 3.25% | 3.87% |
| 2022 | 112 | $16199 | $145.37 | $167.63 | 0.00% | 0.60% | 0.92% | (8.20)% | (7.64)% |
| 2021 | 112 | $18044 | $158.35 | $181.50 | 0.00% | 0.60% | 0.71% | (2.72)% | (2.13)% |
|  **<u>EQ/International Core</u>**<br> **<u>Managed Volatility (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 295 | $71632 | $230.11 | $452.00 | 0.00% | 0.90% | 1.37% | 24.92% | 26.39% |
| 2024 | 278 | $59314 | $184.20 | $358.56 | 0.00% | 0.90% | 2.20% | 2.35% | 3.60% |
| 2023 | 221 | $43286 | $179.97 | $224.98 | 0.00% | 0.90% | 1.76% | 15.73% | 16.78% |
| 2022 | 231 | $39732 | $155.51 | $192.66 | 0.00% | 0.90% | 1.25% | (14.89)% | (14.12)% |
| 2021 | 227 | $47215 | $182.72 | $224.33 | 0.00% | 0.90% | 2.32% | 9.05% | 10.03% |
|  **<u>EQ/International Equity</u>**<br> **<u>Index (Class IA)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1064 | $284921 | $307.35 | $405.87 | 0.00% | 0.90% | 3.75% | 30.30% | 31.49% |
| 2024 | 1109 | $236513 | $235.88 | $308.68 | 0.00% | 0.90% | 2.95% | 3.92% | 4.87% |
| 2023 | 1149 | $242947 | $226.98 | $294.35 | 0.00% | 0.90% | 2.92% | 17.99% | 19.06% |
| 2022 | 1195 | $214608 | $192.37 | $247.23 | 0.00% | 0.90% | 2.49% | (12.70)% | (11.91)% |
| 2021 | 1273 | $259688 | $220.36 | $280.65 | 0.00% | 0.90% | 3.31% | 9.95% | 10.95% |
|  **<u>EQ/International Equity</u>**<br> **<u>Index (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 2391 | $169015 | $226.29 | $277.12 | 0.00% | 0.90% | 3.75% | 30.31% | 31.92% |
| 2024 | 2019 | $121117 | $173.65 | $210.74 | 0.00% | 0.90% | 2.95% | 3.92% | 5.22% |
| 2023 | 1680 | $104749 | $167.10 | $200.96 | 0.00% | 0.90% | 2.92% | 17.99% | 19.06% |
| 2022 | 1188 | $80590 | $141.62 | $168.79 | 0.00% | 0.90% | 2.49% | (12.70)% | (11.91)% |
| 2021 | 766 | $82836 | $162.22 | $191.60 | 0.00% | 0.90% | 3.31% | 9.95% | 10.95% |
|  **<u>EQ/International Managed</u>**<br> **<u>Volatility (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 43 | $9531 | $192.75 | $222.13 | 0.00% | 0.90% | 2.25% | 24.76% | 25.89% |
| 2024 | 43 | $7634 | $154.50 | $176.45 | 0.00% | 0.90% | 2.63% | 1.75% | 2.67% |
| 2023 | 43 | $7446 | $151.85 | $171.86 | 0.00% | 0.90% | 2.30% | 15.84% | 16.90% |
| 2022 | 45 | $6518 | $131.09 | $147.02 | 0.00% | 0.90% | 1.08% | (15.75)% | (14.99)% |
| 2021 | 48 | $8133 | $155.60 | $172.95 | 0.00% | 0.90% | 3.39% | 9.65% | 10.65% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>EQ/International Value</u>**<br> **<u>Managed Volatility (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 418 | $90094 | $261.73 | $414.04 | 0.00% | 0.90% | 2.25% | 25.56% | 27.07% |
| 2024 | 399 | $75949 | $208.45 | $326.78 | 0.00% | 0.90% | 2.37% | 0.52% | 1.68% |
| 2023 | 286 | $59902 | $207.38 | $235.51 | 0.00% | 0.90% | 2.12% | 17.53% | 18.59% |
| 2022 | 285 | $53473 | $176.45 | $198.59 | 0.00% | 0.90% | 1.58% | (14.43)% | (13.66)% |
| 2021 | 288 | $64140 | $206.21 | $230.00 | 0.00% | 0.90% | 2.19% | 9.32% | 10.32% |
|  **<u>EQ/Invesco Comstock</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 302 | $52298 | $356.46 | $537.35 | 0.00% | 0.90% | 1.31% | 15.87% | 17.16% |
| 2024 | 248 | $44670 | $307.63 | $459.57 | 0.00% | 0.90% | 1.49% | 13.81% | 15.13% |
| 2023 | 123 | $23494 | $280.81 | $400.14 | 0.00% | 0.60% | 1.62% | 11.33% | 12.00% |
| 2022 | 117 | $21395 | $252.23 | $357.27 | 0.00% | 0.60% | 1.54% | (0.10)% | 0.50% |
| 2021 | 87 | $25611 | $252.48 | $355.48 | 0.00% | 0.60% | 1.17% | 32.21% | 33.00% |
|  **<u>EQ/Invesco Global (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 131 | $4124 | $18.98 | $206.35 | 0.00% | 0.00% | 0.00% | 15.76% | 15.80% |
| 2024 | 101 | $2916 | $16.39 | $178.25 | 0.00% | 0.00% | 0.00% | 16.16% | 16.18% |
| 2023 | 75 | $1931 | $152.49 | $152.49 | 0.00% | 0.00% | 0.00% | 34.31% | 34.31% |
| 2022 | 41 | $772 | $113.54 | $113.54 | 0.00% | 0.00% | 0.00% | (31.79)% | (31.79)% |
| 2021 | 17 | $504 | $166.45 | $166.45 | 0.00% | 0.00% | 0.00% | 15.48% | 15.48% |
|  **<u>EQ/Invesco Global Real</u>**<br> **<u>Assets (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 807 | $57812 | $216.65 | $249.68 | 0.00% | 0.90% | 2.61% | 14.92% | 16.14% |
| 2024 | 746 | $48927 | $188.52 | $215.31 | 0.00% | 0.90% | 2.26% | (0.67)% | 0.55% |
| 2023 | 657 | $50524 | $21.48 | $189.79 | 0.00% | 0.90% | 2.20% | 9.14% | 10.15% |
| 2022 | 649 | $46989 | $19.50 | $173.89 | 0.00% | 0.90% | 1.60% | (9.81)% | (9.01)% |
| 2021 | 634 | $53614 | $21.43 | $192.81 | 0.00% | 0.90% | 3.13% | 19.91% | 21.01% |
|  **<u>EQ/Janus Enterprise</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 536 | $110542 | $381.46 | $653.75 | 0.00% | 0.90% | 0.00% | 7.08% | 8.33% |
| 2024 | 509 | $106122 | $356.23 | $605.01 | 0.00% | 0.90% | 0.01% | 13.11% | 14.43% |
| 2023 | 351 | $49680 | $327.35 | $530.05 | 0.00% | 0.60% | 0.03% | 16.32% | 17.02% |
| 2022 | 235 | $42850 | $281.42 | $452.97 | 0.00% | 0.60% | 0.00% | (17.08)% | (16.58)% |
| 2021 | 185 | $53989 | $339.40 | $543.01 | 0.00% | 0.60% | 0.10% | 16.14% | 16.84% |
|  **<u>EQ/JPMorgan Growth Stock</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1877 | $298338 | $586.43 | $824.08 | 0.00% | 0.90% | 0.00% | 13.72% | 14.96% |
| 2024 | 1713 | $267048 | $515.69 | $718.15 | 0.00% | 0.90% | 0.00% | 32.57% | 34.02% |
| 2023 | 1155 | $162825 | $388.99 | $536.81 | 0.00% | 0.90% | 0.00% | 45.01% | 46.32% |
| 2022 | 928 | $113563 | $268.25 | $366.87 | 0.00% | 0.90% | 0.00% | (39.19)% | (38.64)% |
| 2021 | 657 | $180181 | $441.13 | $597.87 | 0.00% | 0.90% | 0.00% | 12.80% | 13.83% |
|  **<u>EQ/JPMorgan Value Opportunities</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1670 | $166872 | $652.71 | $905.83 | 0.00% | 0.90% | 1.12% | 14.37% | 15.63% |
| 2024 | 1360 | $138699 | $570.71 | $784.90 | 0.00% | 0.90% | 1.19% | 14.38% | 15.62% |
| 2023 | 680 | $90079 | $498.95 | $634.95 | 0.00% | 0.90% | 1.43% | 9.92% | 10.92% |
| 2022 | 505 | $80537 | $453.91 | $572.46 | 0.00% | 0.90% | 1.19% | (0.67)% | 0.23% |
| 2021 | 323 | $69254 | $456.98 | $571.15 | 0.00% | 0.90% | 0.71% | 22.09% | 23.20% |
|  **<u>EQ/Large Cap Core Managed Volatility (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 176 | $58057 | $450.06 | $888.75 | 0.00% | 0.90% | 0.80% | 9.88% | 11.04% |
| 2024 | 160 | $53287 | $409.60 | $801.58 | 0.00% | 0.90% | 1.01% | 22.52% | 23.84% |
| 2023 | 130 | $38127 | $334.32 | $417.48 | 0.00% | 0.90% | 1.77% | 22.83% | 23.94% |
| 2022 | 119 | $31528 | $272.19 | $336.84 | 0.00% | 0.90% | 0.01% | (19.13)% | (18.40)% |
| 2021 | 109 | $39669 | $336.58 | $412.78 | 0.00% | 0.90% | 0.41% | 26.18% | 27.32% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>EQ/Large Cap Growth Index</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 2103 | $467878 | $633.03 | $1617.57 | 0.00% | 0.90% | 0.00% | 16.67% | 18.12% |
| 2024 | 1732 | $403589 | $542.56 | $1373.92 | 0.00% | 0.90% | 0.04% | 31.13% | 32.76% |
| 2023 | 1196 | $260858 | $413.76 | $516.68 | 0.00% | 0.90% | 0.24% | 40.31% | 41.58% |
| 2022 | 863 | $187329 | $294.89 | $364.94 | 0.00% | 0.90% | 0.24% | (30.18)% | (29.55)% |
| 2021 | 716 | $273355 | $422.36 | $518.00 | 0.00% | 0.90% | 0.05% | 25.59% | 26.73% |
|  **<u>EQ/Large Cap Growth</u>**<br> **<u>Managed Volatility</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 504 | $451974 | $1016.05 | $1379.53 | 0.00% | 0.90% | 0.10% | 10.07% | 11.24% |
| 2024 | 524 | $435728 | $923.11 | $1242.07 | 0.00% | 0.90% | 0.34% | 28.93% | 30.31% |
| 2023 | 425 | $293150 | $715.95 | $911.10 | 0.00% | 0.90% | 0.41% | 37.74% | 38.98% |
| 2022 | 428 | $222978 | $519.80 | $655.55 | 0.00% | 0.90% | 0.07% | (31.21)% | (30.59)% |
| 2021 | 428 | $336994 | $755.66 | $944.45 | 0.00% | 0.90% | 0.00% | 23.26% | 24.38% |
|  **<u>EQ/Large Cap Value Index</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 947 | $79649 | $194.35 | $265.12 | 0.00% | 0.90% | 1.29% | 13.96% | 15.39% |
| 2024 | 746 | $65817 | $170.54 | $230.54 | 0.00% | 0.90% | 1.54% | 12.52% | 13.97% |
| 2023 | 492 | $36864 | $157.56 | $203.04 | 0.00% | 0.60% | 1.69% | 10.07% | 10.73% |
| 2022 | 290 | $30149 | $143.15 | $183.36 | 0.00% | 0.60% | 1.50% | (8.78)% | (8.23)% |
| 2021 | 200 | $28603 | $156.92 | $199.80 | 0.00% | 0.60% | 1.30% | 23.53% | 24.28% |
|  **<u>EQ/Large Cap Value</u>**<br> **<u>Managed Volatility (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 970 | $440959 | $410.49 | $605.33 | 0.00% | 0.90% | 1.37% | 9.64% | 10.64% |
| 2024 | 1023 | $426852 | $374.40 | $547.14 | 0.00% | 0.90% | 1.56% | 13.10% | 14.13% |
| 2023 | 398 | $141889 | $331.03 | $357.37 | 0.00% | 0.90% | 1.63% | 12.95% | 13.97% |
| 2022 | 417 | $131427 | $293.08 | $313.57 | 0.00% | 0.90% | 1.27% | (12.39)% | (11.60)% |
| 2021 | 441 | $157708 | $334.54 | $354.70 | 0.00% | 0.90% | 0.96% | 23.70% | 24.82% |
|  **<u>EQ/Lazard Emerging</u>**<br> **<u>Markets Equity (Class IB)</u>** | **<u>EQ/Lazard Emerging</u>**<br> **<u>Markets Equity (Class IB)</u>** |  |  |  |  |  |  |  |  |
| 2025 | 894 | $91390 | $183.82 | $211.84 | 0.00% | 0.90% | 4.12% | 40.75% | 42.03% |
| 2024 | 916 | $65222 | $130.60 | $149.15 | 0.00% | 0.90% | 3.94% | 6.38% | 7.34% |
| 2023 | 991 | $63797 | $13.89 | $122.77 | 0.00% | 0.90% | 3.89% | 20.62% | 21.63% |
| 2022 | 1093 | $56641 | $11.42 | $101.78 | 0.00% | 0.90% | 4.24% | (15.66)% | (14.84)% |
| 2021 | 1088 | $65422 | $13.41 | $120.68 | 0.00% | 0.90% | 2.73% | 4.91% | 5.84% |
|  **<u>EQ/Long-Term Bond</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/Long-Term Bond</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |
| 2025 | 338 | $3767 | $11.02 | $110.16 | 0.00% | 0.00% | 4.77% | 6.08% | 6.17% |
| 2024 | 80 | $840 | $10.38 | $103.85 | 0.00% | 0.00% | 6.34% | 1.17% | 1.24% |
|  **<u>EQ/Loomis Sayles Growth</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/Loomis Sayles Growth</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |
| 2025 | 593 | $109447 | $727.13 | $1051.40 | 0.00% | 0.90% | 0.00% | 12.08% | 13.38% |
| 2024 | 528 | $94169 | $648.77 | $929.66 | 0.00% | 0.90% | 0.00% | 32.56% | 34.11% |
| 2023 | 324 | $50863 | $508.83 | $694.98 | 0.00% | 0.60% | 0.00% | 42.88% | 43.74% |
| 2022 | 242 | $35851 | $356.12 | $483.50 | 0.00% | 0.60% | 0.00% | (28.42)% | (27.99)% |
| 2021 | 133 | $47125 | $497.50 | $671.39 | 0.00% | 0.60% | 0.00% | 15.48% | 16.18% |
|  **<u>EQ/MFS International</u>**<br> **<u>Growth (Class IB)</u>** | **<u>EQ/MFS International</u>**<br> **<u>Growth (Class IB)</u>** |  |  |  |  |  |  |  |  |
| 2025 | 1538 | $146204 | $244.24 | $461.56 | 0.00% | 0.90% | 0.98% | 19.86% | 21.33% |
| 2024 | 1331 | $120492 | $203.77 | $381.62 | 0.00% | 0.90% | 0.76% | 7.79% | 9.13% |
| 2023 | 1188 | $112218 | $189.04 | $350.83 | 0.00% | 0.90% | 1.25% | 13.35% | 14.38% |
| 2022 | 1091 | $100379 | $166.77 | $306.72 | 0.00% | 0.90% | 1.16% | (15.95)% | (15.19)% |
| 2021 | 383 | $79072 | $198.42 | $361.65 | 0.00% | 0.90% | 0.24% | 8.44% | 9.43% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>EQ/MFS International</u>**<br> **<u>Intrinsic Value (Class IB)</u>** | **<u>EQ/MFS International</u>**<br> **<u>Intrinsic Value (Class IB)</u>** |  |  |  |  |  |  |  |  |
| 2025 | 1601 | $185320 | $364.64 | $420.22 | 0.00% | 0.90% | 1.33% | 31.74% | 33.41% |
| 2024 | 1497 | $141316 | $276.78 | $316.10 | 0.00% | 0.90% | 1.43% | 6.03% | 7.38% |
| 2023 | 1486 | $141506 | $29.54 | $261.04 | 0.00% | 0.90% | 1.28% | 16.30% | 17.36% |
| 2022 | 1428 | $124069 | $25.17 | $224.46 | 0.00% | 0.90% | 0.43% | (24.49)% | (23.82)% |
| 2021 | 1331 | $162700 | $33.04 | $297.26 | 0.00% | 0.90% | 0.36% | 9.25% | 10.24% |
|  **<u>EQ/MFS Mid Cap Focused</u>**<br> **<u>Growth (Class IB)</u>** | **<u>EQ/MFS Mid Cap Focused</u>**<br> **<u>Growth (Class IB)</u>** |  |  |  |  |  |  |  |  |
| 2025 | 855 | $77444 | $456.85 | $526.49 | 0.00% | 0.90% | 0.00% | 4.65% | 5.91% |
| 2024 | 726 | $72612 | $436.57 | $498.59 | 0.00% | 0.90% | 0.00% | 13.45% | 14.87% |
| 2023 | 607 | $62840 | $43.55 | $384.80 | 0.00% | 0.90% | 0.00% | 21.22% | 22.33% |
| 2022 | 525 | $51023 | $35.60 | $317.44 | 0.00% | 0.90% | 0.00% | (27.71)% | (27.06)% |
| 2021 | 445 | $67538 | $48.81 | $439.13 | 0.00% | 0.90% | 0.00% | 17.80% | 18.87% |
|  **<u>EQ/MFS Technology (Class IB)</u>** | **<u>EQ/MFS Technology (Class IB)</u>** |  |  |  |  |  |  |  |  |
| 2025 | 1755 | $155289 | $224.36 | $236.03 | 0.00% | 0.90% | 0.00% | 15.20% | 16.62% |
| 2024 | 1441 | $129485 | $194.75 | $203.04 | 0.00% | 0.90% | 0.00% | 34.83% | 36.53% |
| 2023 | 1141 | $81915 | $14.68 | $144.44 | 0.00% | 0.90% | 0.00% | 52.73% | 54.20% |
| 2022 | 1080 | $51840 | $9.52 | $94.57 | 0.00% | 0.90% | 0.00% | (36.87)% | (36.32)% |
| 2021 | 965 | $78725 | $14.95 | $149.80 | 0.00% | 0.90% | 0.00% | 12.77% | 13.77% |
|  **<u>EQ/MFS Utilities Series</u>**<br> **<u>(Class IB)</u>** | **<u>EQ/MFS Utilities Series</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |
| 2025 | 272 | $7409 | $15.84 | $372.32 | 0.00% | 0.00% | 2.81% | 14.65% | 14.95% |
| 2024 | 222 | $5468 | $13.78 | $324.74 | 0.00% | 0.00% | 1.64% | 11.23% | 11.51% |
| 2023 | 180 | $4267 | $29.19 | $29.19 | 0.00% | 0.00% | 2.03% | (2.37)% | (2.37)% |
| 2022 | 185 | $5286 | $29.90 | $29.90 | 0.00% | 0.00% | 5.92% | 0.44% | 0.44% |
| 2021 | 115 | $3402 | $29.77 | $29.77 | 0.00% | 0.00% | 1.26% | 13.89% | 13.89% |
|  **<u>EQ/Mid Cap Index (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 2034 | $264940 | $435.01 | $856.34 | 0.00% | 0.90% | 0.90% | 5.87% | 7.10% |
| 2024 | 1555 | $242324 | $410.88 | $801.56 | 0.00% | 0.90% | 0.90% | 12.17% | 13.48% |
| 2023 | 1124 | $170072 | $366.30 | $452.31 | 0.00% | 0.90% | 1.05% | 14.71% | 15.75% |
| 2022 | 811 | $145633 | $319.32 | $390.76 | 0.00% | 0.90% | 0.98% | (14.38)% | (13.61)% |
| 2021 | 565 | $168343 | $372.97 | $452.31 | 0.00% | 0.90% | 0.67% | 22.77% | 23.88% |
|  **<u>EQ/Mid Cap Value Managed</u>**<br> **<u>Volatility (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 411 | $198799 | $515.97 | $718.30 | 0.00% | 0.90% | 1.19% | 4.01% | 5.13% |
| 2024 | 424 | $200554 | $496.07 | $684.38 | 0.00% | 0.90% | 1.39% | 10.66% | 11.87% |
| 2023 | 71 | $17230 | $568.08 | $568.08 | 0.00% | 0.00% | 1.44% | 13.19% | 13.19% |
| 2022 | 54 | $15621 | $501.87 | $501.87 | 0.00% | 0.00% | 0.92% | (14.57)% | (14.57)% |
| 2021 | 45 | $18877 | $587.46 | $587.46 | 0.00% | 0.00% | 0.57% | 27.40% | 27.40% |
|  **<u>EQ/Moderate Allocation</u>**<br> **<u>(Class IA)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 808 | $534646 | $496.22 | $619.30 | 0.00% | 0.90% | 2.35% | 9.17% | 10.16% |
| 2024 | 889 | $533091 | $454.52 | $562.16 | 0.00% | 0.90% | 2.61% | 6.94% | 7.91% |
| 2023 | 995 | $551794 | $425.03 | $520.93 | 0.00% | 0.90% | 1.88% | 11.34% | 12.35% |
| 2022 | 1160 | $539229 | $381.73 | $463.66 | 0.00% | 0.90% | 1.23% | (16.23)% | (15.47)% |
| 2021 | 1198 | $693170 | $455.68 | $548.50 | 0.00% | 0.90% | 2.54% | 7.44% | 8.42% |
|  **<u>EQ/Moderate Allocation</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1469 | $175227 | $265.42 | $305.06 | 0.00% | 0.60% | 2.35% | 9.55% | 10.54% |
| 2024 | 1333 | $165268 | $242.28 | $276.79 | 0.00% | 0.60% | 2.61% | 7.27% | 8.26% |
| 2023 | 1212 | $157407 | $225.87 | $256.49 | 0.00% | 0.60% | 1.88% | 11.68% | 12.35% |
| 2022 | 1016 | $151389 | $202.25 | $228.29 | 0.00% | 0.60% | 1.23% | (15.97)% | (15.47)% |
| 2021 | 859 | $182147 | $240.70 | $270.06 | 0.00% | 0.60% | 2.54% | 7.77% | 8.42% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>EQ/Moderate Growth Strategy</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 544 | $157915 | $290.04 | $290.04 | 0.00% | 0.00% | 2.08% | 10.82% | 10.82% |
| 2024 | 586 | $153502 | $261.73 | $261.73 | 0.00% | 0.00% | 2.56% | 10.75% | 10.75% |
| 2023 | 607 | $143509 | $236.32 | $236.32 | 0.00% | 0.00% | 1.48% | 14.86% | 14.86% |
| 2022 | 618 | $127146 | $205.74 | $205.74 | 0.00% | 0.00% | 0.90% | (16.48)% | (16.48)% |
| 2021 | 637 | $156950 | $246.34 | $246.34 | 0.00% | 0.00% | 2.04% | 11.88% | 11.88% |
|  **<u>EQ/Moderate-Plus Allocation</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 3436 | $546927 | $331.55 | $405.42 | 0.00% | 0.90% | 1.95% | 10.50% | 11.90% |
| 2024 | 3294 | $512657 | $300.05 | $363.60 | 0.00% | 0.90% | 2.46% | 9.77% | 11.14% |
| 2023 | 1843 | $299818 | $284.66 | $321.54 | 0.00% | 0.60% | 1.65% | 14.63% | 15.33% |
| 2022 | 1691 | $269132 | $248.32 | $278.81 | 0.00% | 0.60% | 1.06% | (17.55)% | (17.06)% |
| 2021 | 1307 | $330016 | $301.19 | $336.15 | 0.00% | 0.60% | 3.50% | 12.00% | 12.68% |
|  **<u>EQ/Money Market (Class IA)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 3046 | $418618 | $163.61 | $204.18 | 0.00% | 0.90% | 3.59% | 2.66% | 3.59% |
| 2024 | 2812 | $364658 | $159.37 | $197.11 | 0.00% | 0.90% | 4.54% | 3.74% | 4.68% |
| 2023 | 2979 | $371798 | $153.63 | $188.29 | 0.00% | 0.90% | 4.40% | 3.52% | 4.46% |
| 2022 | 1943 | $189825 | $148.40 | $180.25 | 0.00% | 0.90% | 1.19% | 0.18% | 1.09% |
| 2021 | 1435 | $104556 | $148.13 | $178.31 | 0.00% | 0.90% | 0.00% | (0.72)% | 0.19% |
|  **<u>EQ/Money Market (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 4104 | $112399 | $139.09 | $156.11 | 0.00% | 0.60% | 3.59% | 3.04% | 3.95% |
| 2024 | 3693 | $109993 | $134.99 | $150.61 | 0.00% | 0.60% | 4.54% | 4.04% | 5.02% |
| 2023 | 3004 | $101841 | $129.75 | $143.88 | 0.00% | 0.60% | 4.40% | 3.83% | 4.45% |
| 2022 | 1151 | $65119 | $124.96 | $137.75 | 0.00% | 0.60% | 1.19% | 0.48% | 1.09% |
| 2021 | 909 | $58332 | $124.36 | $136.26 | 0.00% | 0.60% | 0.00% | (0.42)% | 0.18% |
|  **<u>EQ/Morgan Stanley Small</u>**<br> **<u>Cap Growth (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 538 | $43157 | $170.47 | $225.22 | 0.00% | 0.90% | 0.29% | 6.42% | 7.77% |
| 2024 | 469 | $40367 | $160.18 | $209.00 | 0.00% | 0.90% | 0.01% | 19.64% | 21.16% |
| 2023 | 426 | $36428 | $133.89 | $138.33 | 0.00% | 0.90% | 0.00% | 33.20% | 34.41% |
| 2022 | 315 | $24019 | $100.52 | $102.92 | 0.00% | 0.90% | 0.01% | (44.67)% | (44.16)% |
| 2021 | 266 | $44103 | $181.66 | $184.32 | 0.00% | 0.90% | 0.00% | 1.83% | 2.75% |
|  **<u>EQ/PIMCO Global Real Return</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 49 | $1041 | $10.70 | $107.49 | 0.00% | 0.00% | 1.45% | 5.68% | 5.73% |
| 2024 | 44 | $924 | $10.12 | $101.71 | 0.00% | 0.00% | 0.57% | (0.20)% | (0.14)% |
| 2023 | 35 | $705 | $101.86 | $101.86 | 0.00% | 0.00% | 1.56% | 4.29% | 4.29% |
| 2022 | 24 | $478 | $97.67 | $97.67 | 0.00% | 0.00% | 13.54% | (16.03)% | (16.03)% |
| 2021 | 8 | $170 | $116.31 | $116.31 | 0.00% | 0.00% | 18.22% | 4.19% | 4.19% |
|  **<u>EQ/PIMCO Real Return</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 606 | $38606 | $137.20 | $158.12 | 0.00% | 0.90% | 3.25% | 6.95% | 8.12% |
| 2024 | 566 | $34779 | $128.28 | $146.50 | 0.00% | 0.90% | 3.77% | 1.01% | 2.08% |
| 2023 | 501 | $33709 | $127.00 | $143.73 | 0.00% | 0.90% | 1.15% | 2.66% | 3.59% |
| 2022 | 502 | $34004 | $123.71 | $138.75 | 0.00% | 0.90% | 6.18% | (12.20)% | (11.40)% |
| 2021 | 490 | $35999 | $140.90 | $156.60 | 0.00% | 0.90% | 4.03% | 4.38% | 5.32% |
|  **<u>EQ/PIMCO Total Return ESG</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1451 | $84309 | $132.05 | $152.18 | 0.00% | 0.90% | 4.41% | 7.69% | 9.00% |
| 2024 | 1288 | $75990 | $122.62 | $140.04 | 0.00% | 0.90% | 4.37% | 1.08% | 2.24% |
| 2023 | 1113 | $73507 | $121.31 | $137.29 | 0.00% | 0.90% | 2.74% | 4.69% | 5.64% |
| 2022 | 1008 | $69934 | $115.87 | $129.96 | 0.00% | 0.90% | 3.18% | (14.78)% | (14.00)% |
| 2021 | 953 | $82552 | $135.96 | $151.12 | 0.00% | 0.90% | 1.66% | (2.31)% | (1.42)% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>EQ/PIMCO Ultra Short Bond</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 683 | $55423 | $122.70 | $148.90 | 0.00% | 0.90% | 4.17% | 3.54% | 4.68% |
| 2024 | 604 | $50913 | $118.50 | $142.51 | 0.00% | 0.90% | 5.21% | 4.89% | 6.01% |
| 2023 | 346 | $26797 | $118.19 | $134.65 | 0.00% | 0.60% | 4.57% | 4.99% | 5.63% |
| 2022 | 215 | $19886 | $112.57 | $127.47 | 0.00% | 0.60% | 1.36% | (1.19)% | (0.61)% |
| 2021 | 179 | $19500 | $113.93 | $128.25 | 0.00% | 0.60% | 0.43% | (1.06)% | (0.45)% |
|  **<u>EQ/Quality Bond PLUS</u>**<br> **<u>(Class IA)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 248 | $22210 | $201.22 | $285.51 | 0.00% | 0.90% | 3.45% | 5.37% | 6.32% |
| 2024 | 226 | $20672 | $190.97 | $268.53 | 0.00% | 0.90% | 3.15% | 0.86% | 1.77% |
| 2023 | 207 | $19400 | $189.35 | $263.85 | 0.00% | 0.90% | 2.19% | 3.28% | 4.22% |
| 2022 | 204 | $18392 | $183.33 | $253.16 | 0.00% | 0.90% | 0.64% | (11.01)% | (10.21)% |
| 2021 | 226 | $22967 | $206.02 | $281.95 | 0.00% | 0.90% | 0.75% | (3.00)% | (2.11)% |
|  **<u>EQ/Quality Bond PLUS</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 105 | $18407 | $163.76 | $192.57 | 0.00% | 0.60% | 3.45% | 5.64% | 6.27% |
| 2024 | 104 | $17288 | $155.01 | $181.20 | 0.00% | 0.60% | 3.15% | 1.16% | 1.77% |
| 2023 | 106 | $17247 | $153.23 | $178.04 | 0.00% | 0.60% | 2.19% | 3.60% | 4.23% |
| 2022 | 105 | $16425 | $147.91 | $170.82 | 0.00% | 0.60% | 0.64% | (10.75)% | (10.21)% |
| 2021 | 107 | $18788 | $165.72 | $190.25 | 0.00% | 0.60% | 0.75% | (2.71)% | (2.11)% |
|  **<u>EQ/Small Company Index</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1492 | $188568 | $579.52 | $925.54 | 0.00% | 0.90% | 0.90% | 11.58% | 12.85% |
| 2024 | 1233 | $170451 | $519.38 | $822.04 | 0.00% | 0.90% | 1.31% | 10.11% | 11.40% |
| 2023 | 819 | $86493 | $471.69 | $537.10 | 0.00% | 0.90% | 1.20% | 15.75% | 16.80% |
| 2022 | 491 | $68582 | $407.49 | $459.83 | 0.00% | 0.90% | 0.93% | (20.53)% | (19.81)% |
| 2021 | 274 | $78603 | $512.79 | $573.46 | 0.00% | 0.90% | 0.67% | 14.02% | 15.06% |
|  **<u>EQ/T. Rowe Price Health</u>**<br> **<u>Sciences (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 512 | $20658 | $16.76 | $760.96 | 0.00% | 0.00% | 0.00% | 19.21% | 19.40% |
| 2024 | 448 | $16026 | $14.04 | $638.33 | 0.00% | 0.00% | 0.00% | 1.58% | 1.74% |
| 2023 | 433 | $18206 | $62.84 | $62.84 | 0.00% | 0.00% | 0.00% | 3.97% | 3.97% |
| 2022 | 334 | $14700 | $60.44 | $60.44 | 0.00% | 0.00% | 0.00% | (13.38)% | (13.38)% |
| 2021 | 230 | $14302 | $69.78 | $69.78 | 0.00% | 0.00% | 0.00% | 9.51% | 9.51% |
|  **<u>EQ/Value Equity (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 538 | $237434 | $703.38 | $911.47 | 0.00% | 0.90% | 1.48% | 10.01% | 11.18% |
| 2024 | 546 | $223901 | $639.36 | $821.06 | 0.00% | 0.90% | 0.95% | 6.26% | 7.42% |
| 2023 | 367 | $182589 | $601.67 | $765.67 | 0.00% | 0.90% | 1.18% | 18.45% | 19.52% |
| 2022 | 345 | $159860 | $507.96 | $640.62 | 0.00% | 0.90% | 1.05% | (15.87)% | (15.11)% |
| 2021 | 331 | $202308 | $603.81 | $754.65 | 0.00% | 0.90% | 0.68% | 24.24% | 25.37% |
|  **<u>EQ/Wellington Energy</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 565 | $23089 | $90.86 | $104.72 | 0.00% | 0.90% | 2.62% | 11.27% | 12.29% |
| 2024 | 527 | $20335 | $81.66 | $93.26 | 0.00% | 0.90% | 2.44% | 5.61% | 6.56% |
| 2023 | 1052 | $24560 | $8.75 | $77.32 | 0.00% | 0.90% | 3.20% | 5.07% | 6.06% |
| 2022 | 1180 | $26842 | $8.25 | $73.59 | 0.00% | 0.90% | 4.80% | 31.22% | 32.42% |
| 2021 | 476 | $15210 | $6.23 | $56.08 | 0.00% | 0.90% | 3.31% | 34.39% | 35.43% |
|  **<u>Equitable Conservative</u>**<br> **<u>Growth MF/ETF (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 149 | $17341 | $181.45 | $200.86 | 0.00% | 0.80% | 3.62% | 11.13% | 12.38% |
| 2024 | 164 | $16542 | $163.27 | $179.29 | 0.00% | 0.80% | 3.11% | 6.36% | 7.56% |
| 2023 | 178 | $15881 | $153.50 | $167.20 | 0.00% | 0.80% | 2.62% | 9.04% | 9.91% |
| 2022 | 168 | $15553 | $140.78 | $152.12 | 0.00% | 0.80% | 1.77% | (13.15)% | (12.45)% |
| 2021 | 174 | $16775 | $162.09 | $173.75 | 0.00% | 0.80% | 0.60% | 9.23% | 10.11% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>Equitable Growth MF/ETF</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 158 | $2499 | $12.86 | $128.56 | 0.00% | 0.00% | 2.17% | 14.77% | 14.82% |
| 2024 | 69 | $774 | $11.20 | $112.02 | 0.00% | 0.00% | 2.62% | 8.00% | 8.06% |
|  **<u>Equitable Moderate Growth</u>**<br> **<u>MF/ETF (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 36 | $660 | $12.53 | $125.35 | 0.00% | 0.00% | 3.33% | 13.70% | 13.72% |
| 2024 | 9 | $140 | $11.02 | $110.23 | 0.00% | 0.00% | 6.02% | 6.57% | 6.58% |
|  **<u>Fidelity<sup>®</sup> VIP Asset Manager</u>**<br> **<u>70% (Service Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 259 | $6273 | $17.53 | $511.79 | 0.00% | 0.00% | 1.90% | 17.95% | 18.13% |
| 2024 | 204 | $4612 | $14.84 | $433.88 | 0.00% | 0.00% | 1.98% | 10.55% | 10.75% |
| 2023 | 141 | $3304 | $392.47 | $392.47 | 0.00% | 0.00% | 2.07% | 16.05% | 16.05% |
| 2022 | 45 | $1638 | $338.20 | $338.20 | 0.00% | 0.00% | 1.87% | (17.05)% | (17.05)% |
| 2021 | 19 | $1564 | $407.70 | $407.70 | 0.00% | 0.00% | 1.21% | 13.69% | 13.69% |
|  **<u>Fidelity<sup>®</sup> VIP Equity-Income</u>**<br> **<u>Portfolio (Service Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 100 | $9663 | $68.06 | $723.47 | 0.00% | 0.00% | 1.65% | 18.75% | 18.76% |
| 2024 | 115 | $9241 | $57.31 | $609.26 | 0.00% | 0.00% | 1.67% | 15.06% | 15.06% |
| 2023 | 107 | $7379 | $529.53 | $529.53 | 0.00% | 0.00% | 1.46% | 10.38% | 10.38% |
| 2022 | 109 | $6817 | $479.74 | $479.74 | 0.00% | 0.00% | 2.05% | (5.24)% | (5.24)% |
| 2021 | 104 | $5421 | $506.29 | $506.29 | 0.00% | 0.00% | 1.74% | 24.60% | 24.60% |
|  **<u>Fidelity<sup>®</sup> VIP Government</u>**<br> **<u>Money Market Portfolio (Service Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 276 | $7009 | $12.03 | $120.25 | 0.00% | 0.00% | 3.79% | 3.87% | 3.89% |
| 2024 | 628 | $10269 | $11.58 | $115.77 | 0.00% | 0.00% | 4.64% | 4.85% | 4.89% |
| 2023 | 194 | $2276 | $110.42 | $110.42 | 0.00% | 0.00% | 4.51% | 4.64% | 4.64% |
| 2022 | 133 | $2078 | $105.52 | $105.52 | 0.00% | 0.00% | 1.13% | 1.27% | 1.27% |
| 2021 | 132 | $2269 | $104.20 | $104.20 | 0.00% | 0.00% | 0.01% | 0.01% | 0.01% |
|  **<u>Fidelity<sup>®</sup> VIP High</u>**<br> **<u>Income Portfolio</u>**<br> **<u>(Service Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 87 | $5380 | $34.85 | $362.53 | 0.00% | 0.00% | 7.23% | 10.31% | 10.32% |
| 2024 | 80 | $4275 | $31.59 | $328.64 | 0.00% | 0.00% | 6.35% | 8.59% | 8.62% |
| 2023 | 79 | $3601 | $302.57 | $302.57 | 0.00% | 0.00% | 5.38% | 10.24% | 10.24% |
| 2022 | 76 | $3045 | $274.47 | $274.47 | 0.00% | 0.00% | 5.06% | (11.67)% | (11.67)% |
| 2021 | 74 | $3420 | $310.75 | $310.75 | 0.00% | 0.00% | 5.79% | 4.29% | 4.29% |
|  **<u>Fidelity<sup>®</sup> VIP Investment</u>**<br> **<u>Grade Bond Portfolio</u>**<br> **<u>(Service Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 750 | $25729 | $18.99 | $208.65 | 0.00% | 0.00% | 3.70% | 6.93% | 6.93% |
| 2024 | 718 | $20402 | $17.76 | $195.13 | 0.00% | 0.00% | 3.39% | 1.49% | 1.50% |
| 2023 | 750 | $19889 | $192.25 | $192.25 | 0.00% | 0.00% | 2.49% | 6.00% | 6.00% |
| 2022 | 777 | $19359 | $181.37 | $181.37 | 0.00% | 0.00% | 2.12% | (13.21)% | (13.21)% |
| 2021 | 805 | $24112 | $208.98 | $208.98 | 0.00% | 0.00% | 1.29% | (0.90)% | (0.90)% |
|  **<u>Fidelity<sup>®</sup> VIP Mid Cap</u>**<br> **<u>Portfolio (Service</u>**<br> **<u>Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 493 | $58954 | $379.70 | $1150.34 | 0.00% | 0.90% | 0.26% | 10.48% | 11.66% |
| 2024 | 410 | $52513 | $343.67 | $1031.80 | 0.00% | 0.90% | 0.36% | 16.12% | 17.35% |
| 2023 | 357 | $43714 | $295.97 | $880.56 | 0.00% | 0.90% | 0.39% | 13.77% | 14.80% |
| 2022 | 336 | $39148 | $260.14 | $767.03 | 0.00% | 0.90% | 0.26% | (15.73)% | (14.97)% |
| 2021 | 320 | $49646 | $308.71 | $902.03 | 0.00% | 0.90% | 0.38% | 24.18% | 25.30% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>Fidelity<sup>®</sup> VIP Value</u>**<br> **<u>Portfolio (Service Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 602 | $15633 | $20.30 | $753.52 | 0.00% | 0.00% | 1.43% | 10.95% | 11.12% |
| 2024 | 442 | $11025 | $18.27 | $679.14 | 0.00% | 0.00% | 1.44% | 11.08% | 11.27% |
| 2023 | 259 | $6360 | $611.37 | $611.37 | 0.00% | 0.00% | 1.27% | 19.47% | 19.47% |
| 2022 | 162 | $3825 | $511.74 | $511.74 | 0.00% | 0.00% | 1.45% | (4.29)% | (4.29)% |
| 2021 | 80 | $2591 | $534.67 | $534.67 | 0.00% | 0.00% | 1.82% | 29.72% | 29.72% |
|  **<u>Fidelity<sup>®</sup> VIP Value</u>**<br> **<u>Strategies Portfolio</u>**<br> **<u>(Service Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 14 | $1283 | $87.71 | $899.44 | 0.00% | 0.00% | 0.80% | 7.70% | 7.70% |
| 2024 | 15 | $1255 | $81.44 | $835.12 | 0.00% | 0.00% | 0.75% | 9.16% | 9.17% |
| 2023 | 15 | $1212 | $765.04 | $765.04 | 0.00% | 0.00% | 1.01% | 20.61% | 20.61% |
| 2022 | 15 | $993 | $634.32 | $634.32 | 0.00% | 0.00% | 1.07% | (7.35)% | (7.35)% |
| 2021 | 12 | $847 | $684.63 | $684.63 | 0.00% | 0.00% | 1.86% | 33.34% | 33.34% |
|  **<u>Franklin Small Cap Value</u>**<br> **<u>VIP Fund (Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 675 | $32031 | $341.67 | $393.76 | 0.00% | 0.90% | 1.09% | 6.69% | 7.82% |
| 2024 | 592 | $29068 | $320.26 | $365.76 | 0.00% | 0.90% | 0.94% | 10.69% | 11.91% |
| 2023 | 552 | $27529 | $289.32 | $327.44 | 0.00% | 0.90% | 0.52% | 11.73% | 12.75% |
| 2022 | 457 | $23585 | $258.94 | $290.42 | 0.00% | 0.90% | 0.99% | (10.87)% | (10.06)% |
| 2021 | 351 | $22920 | $290.53 | $322.92 | 0.00% | 0.90% | 1.00% | 24.24% | 25.37% |
|  **<u>Invesco V.I. Diversified</u>**<br> **<u>Dividend Fund (Series II)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 373 | $14810 | $17.25 | $384.92 | 0.00% | 0.00% | 1.42% | 15.44% | 15.62% |
| 2024 | 374 | $12927 | $14.92 | $333.45 | 0.00% | 0.00% | 1.67% | 12.94% | 13.13% |
| 2023 | 388 | $12361 | $295.19 | $295.19 | 0.00% | 0.00% | 1.63% | 8.77% | 8.77% |
| 2022 | 457 | $13894 | $271.39 | $271.39 | 0.00% | 0.00% | 1.30% | (1.92)% | (1.92)% |
| 2021 | 606 | $19814 | $276.71 | $276.71 | 0.00% | 0.00% | 2.00% | 18.59% | 18.59% |
|  **<u>Janus Henderson Balanced</u>**<br> **<u>Portfolio (Service Shares)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 704 | $11177 | $14.16 | $141.64 | 0.00% | 0.00% | 1.77% | 14.94% | 15.00% |
| 2024 | 527 | $7401 | $12.32 | $123.17 | 0.00% | 0.00% | 2.56% | 15.32% | 15.36% |
| 2023 | 112 | $1837 | $10.68 | $10.68 | 0.00% | 0.00% | 1.88% | 15.33% | 15.33% |
| 2022 | 38 | $980 | $9.26 | $9.26 | 0.00% | 0.00% | 1.41% | (16.50)% | (16.50)% |
| 2021 |  | $7 | $11.09 | $11.09 | 0.00% | 0.00% | 0.61% | 10.13% | 10.13% |
|  **<u>Lord Abbett Series Fund —</u>**<br> **<u>Bond Debenture Portfolio</u>**<br> **<u>(VC Shares)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 462 | $6823 | $12.23 | $125.12 | 0.00% | 0.00% | 7.07% | 8.51% | 8.52% |
| 2024 | 342 | $4659 | $11.27 | $115.30 | 0.00% | 0.00% | 7.09% | 6.88% | 6.93% |
| 2023 | 226 | $2839 | $107.88 | $107.88 | 0.00% | 0.00% | 6.67% | 6.72% | 6.72% |
| 2022 | 132 | $1575 | $101.09 | $101.09 | 0.00% | 0.00% | 6.16% | (12.67)% | (12.67)% |
| 2021 | 68 | $907 | $115.76 | $115.76 | 0.00% | 0.00% | 4.81% | 3.43% | 3.43% |
|  **<u>MFS<sup>®</sup> Massachusetts</u>**<br> **<u>Investors Growth Stock</u>**<br> **<u>Portfolio (Service Class)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 20 | $12359 | $572.98 | $660.31 | 0.00% | 0.90% | 0.02% | 8.62% | 9.61% |
| 2024 | 23 | $13260 | $527.52 | $602.44 | 0.00% | 0.90% | 0.13% | 14.93% | 15.98% |
| 2023 | 24 | $11906 | $458.98 | $519.43 | 0.00% | 0.90% | 0.05% | 22.59% | 23.70% |
| 2022 | 24 | $10173 | $374.39 | $419.90 | 0.00% | 0.90% | 0.00% | (20.17)% | (19.45)% |
| 2021 | 27 | $14080 | $468.99 | $521.27 | 0.00% | 0.90% | 0.03% | 24.53% | 25.66% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>Multimanager Aggressive</u>**<br> **<u>Equity (Class IA)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 288 | $749024 | $1138.30 | $1242.19 | 0.00% | 0.90% | 0.23% | 15.27% | 16.32% |
| 2024 | 302 | $694225 | $987.50 | $1067.94 | 0.00% | 0.90% | 0.41% | 29.67% | 30.85% |
| 2023 | 326 | $577881 | $761.55 | $816.14 | 0.00% | 0.90% | 0.38% | 37.06% | 38.30% |
| 2022 | 350 | $450513 | $555.64 | $590.13 | 0.00% | 0.90% | 0.00% | (32.78)% | (32.17)% |
| 2021 | 377 | $707067 | $826.56 | $869.97 | 0.00% | 0.90% | 0.00% | 19.42% | 20.50% |
|  **<u>Multimanager Aggressive</u>**<br> **<u>Equity (Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 338 | $79629 | $541.18 | $632.59 | 0.00% | 0.60% | 0.23% | 15.61% | 16.55% |
| 2024 | 315 | $69204 | $468.12 | $543.91 | 0.00% | 0.60% | 0.41% | 30.07% | 31.12% |
| 2023 | 281 | $54896 | $359.91 | $415.66 | 0.00% | 0.60% | 0.38% | 37.47% | 38.30% |
| 2022 | 229 | $40442 | $261.81 | $300.56 | 0.00% | 0.60% | 0.00% | (32.57)% | (32.17)% |
| 2021 | 168 | $57417 | $388.29 | $443.08 | 0.00% | 0.60% | 0.00% | 19.78% | 20.50% |
|  **<u>Multimanager Core Bond</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 502 | $59145 | $166.64 | $207.02 | 0.00% | 0.90% | 3.52% | 6.13% | 7.09% |
| 2024 | 499 | $58390 | $157.02 | $193.31 | 0.00% | 0.90% | 3.56% | 1.05% | 1.97% |
| 2023 | 207 | $36651 | $155.39 | $189.57 | 0.00% | 0.90% | 2.93% | 4.15% | 5.09% |
| 2022 | 210 | $35269 | $149.20 | $180.39 | 0.00% | 0.90% | 2.32% | (13.52)% | (12.73)% |
| 2021 | 224 | $43566 | $172.53 | $206.71 | 0.00% | 0.90% | 1.45% | (2.32)% | (1.43)% |
|  **<u>Multimanager Technology</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 855 | $376880 | $1108.98 | $2749.18 | 0.00% | 0.90% | 0.00% | 24.76% | 26.08% |
| 2024 | 729 | $311076 | $888.91 | $2183.79 | 0.00% | 0.90% | 0.00% | 24.95% | 26.28% |
| 2023 | 523 | $213926 | $711.41 | $1408.01 | 0.00% | 0.90% | 0.00% | 48.20% | 49.54% |
| 2022 | 430 | $142780 | $480.02 | $941.54 | 0.00% | 0.90% | 0.00% | (37.86)% | (37.30)% |
| 2021 | 345 | $231063 | $772.50 | $1501.58 | 0.00% | 0.90% | 0.00% | 19.74% | 20.82% |
|  **<u>Nomura VIP High Income</u>**<br> **<u>Series (Service Class)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 1832 | $70074 | $151.13 | $169.43 | 0.00% | 0.90% | 6.50% | 6.21% | 7.34% |
| 2024 | 1563 | $65471 | $142.30 | $158.10 | 0.00% | 0.90% | 6.19% | 5.24% | 6.41% |
| 2023 | 1199 | $51479 | $135.22 | $148.88 | 0.00% | 0.90% | 6.35% | 10.75% | 11.75% |
| 2022 | 1036 | $43820 | $122.10 | $133.22 | 0.00% | 0.90% | 6.56% | (11.76)% | (10.97)% |
| 2021 | 999 | $50180 | $138.38 | $149.63 | 0.00% | 0.90% | 5.79% | 5.10% | 6.06% |
|  **<u>PIMCO</u>**<br> **<u>CommodityRealReturn<sup>®</sup></u>**<br> **<u>Strategy Portfolio (Advisor</u>**<br> **<u>Class)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 256 | $19843 | $100.52 | $179.07 | 0.00% | 0.90% | 2.72% | 17.61% | 18.84% |
| 2024 | 249 | $16802 | $85.47 | $150.68 | 0.00% | 0.90% | 2.04% | 3.03% | 4.12% |
| 2023 | 255 | $18476 | $82.96 | $93.89 | 0.00% | 0.90% | 15.81% | (8.76)% | (7.93)% |
| 2022 | 253 | $21540 | $90.93 | $101.98 | 0.00% | 0.90% | 20.71% | 7.69% | 8.66% |
| 2021 | 200 | $17425 | $84.44 | $93.85 | 0.00% | 0.90% | 4.14% | 31.92% | 33.10% |
|  **<u>T. Rowe Price Blue Chip</u>**<br> **<u>Growth Portfolio (Class II)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 283 | $8933 | $24.71 | $247.12 | 0.00% | 0.00% | 0.00% | 18.63% | 18.67% |
| 2024 | 151 | $3968 | $20.83 | $208.25 | 0.00% | 0.00% | 0.00% | 35.44% | 35.44% |
| 2023 | 49 | $1010 | $15.38 | $15.38 | 0.00% | 0.00% | 0.00% | 49.32% | 49.32% |
| 2022 | 2 | $21 | $10.30 | $10.30 | 0.00% | 0.00% | 0.00% | (4.63)% | (4.63)% |
|  **<u>T. Rowe Price Equity</u>**<br> **<u>Income Portfolio (Class II)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 276 | $30053 | $351.60 | $405.19 | 0.00% | 0.90% | 1.44% | 13.05% | 14.28% |
| 2024 | 261 | $27068 | $311.02 | $355.20 | 0.00% | 0.90% | 1.64% | 10.37% | 11.60% |
| 2023 | 234 | $23582 | $281.79 | $318.91 | 0.00% | 0.90% | 1.89% | 8.33% | 9.31% |
| 2022 | 167 | $22414 | $260.12 | $291.74 | 0.00% | 0.90% | 1.67% | (4.45)% | (3.59)% |
| 2021 | 119 | $22898 | $272.24 | $302.59 | 0.00% | 0.90% | 1.40% | 24.09% | 25.21% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>T. Rowe Price Mid-Cap</u>**<br> **<u>Growth Portfolio (Class II)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 113 | $2178 | $14.32 | $143.18 | 0.00% | 0.00% | 0.00% | 3.59% | 3.62% |
| 2024 | 61 | $1339 | $13.82 | $138.22 | 0.00% | 0.00% | 0.00% | 9.34% | 9.35% |
| 2023 | 17 | $611 | $12.64 | $12.64 | 0.00% | 0.00% | 0.00% | 20.04% | 20.04% |
| 2022 |  | $— | $10.53 | $10.53 | 0.00% | 0.00% | 0.00% | (1.77)% | (1.77)% |
|  **<u>Target 2015 Allocation</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 4 | $122 | $28.00 | $220.15 | 0.00% | 0.00% | 3.90% | 9.46% | 9.47% |
| 2024 | 4 | $113 | $25.58 | $201.11 | 0.00% | 0.00% | 1.83% | 4.75% | 4.76% |
| 2023 | 9 | $302 | $191.98 | $191.98 | 0.00% | 0.00% | 1.22% | 9.94% | 9.94% |
| 2022 | 26 | $807 | $174.62 | $174.62 | 0.00% | 0.00% | 1.79% | (14.14)% | (14.14)% |
| 2021 | 29 | $1259 | $203.37 | $203.37 | 0.00% | 0.00% | 0.98% | 6.27% | 6.27% |
|  **<u>Target 2025 Allocation</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 79 | $9307 | $176.70 | $284.09 | 0.00% | 0.80% | 2.90% | 12.18% | 13.08% |
| 2024 | 81 | $8164 | $157.52 | $251.24 | 0.00% | 0.80% | 2.50% | 7.82% | 8.69% |
| 2023 | 100 | $8051 | $146.10 | $231.15 | 0.00% | 0.80% | 2.00% | 12.72% | 13.63% |
| 2022 | 126 | $7915 | $129.61 | $203.42 | 0.00% | 0.80% | 1.54% | (15.92)% | (15.24)% |
| 2021 | 134 | $11210 | $154.15 | $240.00 | 0.00% | 0.80% | 1.40% | 9.85% | 10.73% |
|  **<u>Target 2035 Allocation</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 105 | $13889 | $200.88 | $334.43 | 0.00% | 0.90% | 2.23% | 14.67% | 15.71% |
| 2024 | 112 | $11808 | $180.38 | $289.03 | 0.00% | 0.60% | 2.02% | 10.81% | 11.48% |
| 2023 | 127 | $10682 | $162.79 | $259.26 | 0.00% | 0.60% | 1.82% | 15.84% | 16.54% |
| 2022 | 145 | $8974 | $140.53 | $222.47 | 0.00% | 0.60% | 1.50% | (16.79)% | (16.29)% |
| 2021 | 120 | $9388 | $168.89 | $265.77 | 0.00% | 0.60% | 1.56% | 13.39% | 14.07% |
|  **<u>Target 2045 Allocation</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 121 | $11093 | $219.42 | $365.55 | 0.00% | 0.80% | 1.82% | 15.86% | 16.80% |
| 2024 | 123 | $10089 | $189.38 | $312.98 | 0.00% | 0.80% | 1.81% | 12.07% | 12.97% |
| 2023 | 111 | $8209 | $168.99 | $277.04 | 0.00% | 0.80% | 1.61% | 17.18% | 18.13% |
| 2022 | 107 | $7089 | $144.21 | $234.53 | 0.00% | 0.80% | 1.35% | (17.44)% | (16.78)% |
| 2021 | 107 | $7371 | $174.68 | $281.81 | 0.00% | 0.80% | 1.97% | 15.38% | 16.32% |
|  **<u>Target 2055 Allocation</u>**<br> **<u>(Class IB)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 80 | $8935 | $240.24 | $261.75 | 0.00% | 0.80% | 1.65% | 16.94% | 17.89% |
| 2024 | 74 | $7450 | $209.47 | $222.03 | 0.00% | 0.60% | 1.42% | 13.63% | 14.32% |
| 2023 | 90 | $6607 | $184.34 | $194.22 | 0.00% | 0.60% | 1.50% | 19.11% | 19.83% |
| 2022 | 76 | $4955 | $154.76 | $162.08 | 0.00% | 0.60% | 1.14% | (18.06)% | (17.56)% |
| 2021 | 70 | $5365 | $188.87 | $196.61 | 0.00% | 0.60% | 2.30% | 17.56% | 18.26% |
|  **<u>Templeton Developing</u>**<br> **<u>Markets VIP Fund (Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 376 | $31876 | $184.22 | $212.30 | 0.00% | 0.90% | 0.52% | 44.95% | 46.49% |
| 2024 | 337 | $20706 | $127.09 | $145.15 | 0.00% | 0.90% | 3.90% | 6.70% | 7.84% |
| 2023 | 305 | $19505 | $119.11 | $134.81 | 0.00% | 0.90% | 2.09% | 11.61% | 12.62% |
| 2022 | 255 | $17805 | $106.72 | $119.70 | 0.00% | 0.90% | 2.57% | (22.68)% | (21.98)% |
| 2021 | 196 | $22005 | $138.03 | $153.43 | 0.00% | 0.90% | 0.89% | (6.59)% | (5.74)% |
|  **<u>Templeton Global Bond VIP</u>**<br> **<u>Fund (Class 2)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 810 | $43171 | $101.52 | $117.00 | 0.00% | 0.90% | 0.00% | 14.69% | 16.15% |
| 2024 | 794 | $37034 | $88.52 | $101.10 | 0.00% | 0.90% | 0.00% | (12.17)% | (11.05)% |
| 2023 | 729 | $39722 | $100.79 | $114.07 | 0.00% | 0.90% | 0.00% | 1.96% | 2.89% |
| 2022 | 738 | $40129 | $98.85 | $110.87 | 0.00% | 0.90% | 0.00% | (5.80)% | (4.95)% |
| 2021 | 717 | $43887 | $104.94 | $116.64 | 0.00% | 0.90% | 0.00% | (5.85)% | (4.99)% |

---

------

**SEPARATE ACCOUNT FP** 

**Notes to Financial Statements (Concluded)** 

**December 31, 2025** 

**8**. Financial Highlights (Concluded)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Unit Values** | **Unit Values** | **Contract Charges** | **Contract Charges** | **Investment<br>Income**<br>**Ratio\*\*** | **Total Return Ratio\*\*\*** | **Total Return Ratio\*\*\*** |
|  | **Units**<br> **Outstanding**<br> **(000's)\*** | **Accumulation**<br>**Unit Values**<br>**(000's)\*** | **Lowest** | **Highest** | **Lowest** | **Highest** | **Investment<br>Income**<br>**Ratio\*\*** | **Lowest** | **Highest** |
|  **<u>VanEck VIP Global Resources</u>**<br> **<u>Fund (Class S)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 203 | $20738 | $111.97 | $135.37 | 0.00% | 0.90% | 2.41% | 34.94% | 36.41% |
| 2024 | 176 | $13827 | $82.98 | $99.27 | 0.00% | 0.90% | 2.39% | (3.96)% | (2.93)% |
| 2023 | 176 | $14882 | $86.40 | $97.79 | 0.00% | 0.90% | 2.58% | (4.70)% | (3.84)% |
| 2022 | 185 | $17096 | $90.66 | $101.69 | 0.00% | 0.90% | 1.56% | 7.15% | 8.12% |
| 2021 | 169 | $15009 | $84.61 | $94.05 | 0.00% | 0.90% | 0.31% | 17.61% | 18.68% |
|  **<u>Vanguard Variable Insurance</u>**<br> **<u>Fund Equity Index Portfolio</u>**<br> **<u>(Common Shares)</u>** |  |  |  |  |  |  |  |  |  |
| 2025 | 27 | $21334 | $785.80 | $785.80 | 0.60% | 0.60% | 1.06% | 17.00% | 17.00% |
| 2024 | 28 | $18600 | $671.65 | $671.65 | 0.60% | 0.60% | 1.28% | 24.09% | 24.09% |
| 2023 | 29 | $15612 | $541.27 | $541.27 | 0.60% | 0.60% | 1.52% | 25.36% | 25.36% |
| 2022 | 36 | $15746 | $431.77 | $431.77 | 0.60% | 0.60% | 1.35% | (18.72)% | (18.72)% |
| 2021 | 39 | $20717 | $531.21 | $531.21 | 0.60% | 0.60% | 1.28% | 27.78% | 27.78% |

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\* Variable Investment Options where Units Outstanding and Accumulation Unit Values are less than 500 and $500, respectively, are denoted by a —

\*\* This ratio represents the amount of dividend income, excluding distributions from net realized gains, received by the Variable Investment Option from the Portfolio, divided by the average daily net assets. This ratio excludes those expenses, such as asset charges, that result in direct reductions in the unit values. The recognition of dividend income by the Variable Investment Option is affected by the timing of the declaration of dividends by the Portfolio in which the Variable Investment Option invests. For those Variable Investment Options with less than a year of operations, this ratio is not annualized but calculated from the effective date through the end of the reporting period.

\*\*\* This ratio represents the total return for the periods indicated, including changes in the value of the Portfolio, and expenses assessed through the reduction of unit value. This ratio does not include any expenses, such as premiums and withdrawal charges, as applicable, or expenses assessed through the redemption of units. The total return would have been lower had such expenses been included in the calculation. The total return is calculated for each period indicated from the effective date through the end of the reporting period. For those Variable Investment Options with less than a year of operations, the total return is not annualized but calculated from the effective date through the end of the reporting period.

**9**. Subsequent Events

All material subsequent transactions and events have been evaluated for the period from December 31, 2025 through April 9, 2026, the date on which the financial statements were issued. Except as noted below, there were no transactions or events that require adjustment to or disclosure in the accompanying financial statements.

Equitable Financial is a wholly-owned subsidiary of Equitable Financial Services, LLC, a Delaware corporation and a wholly-owned direct subsidiary of the Equitable Holdings. On March 26, 2026, Equitable Holdings, Inc., a Delaware corporation ("Equitable"), entered into an Agreement and Plan of Merger (the "Merger Agreement"), by and among Equitable, Corebridge Financial, Inc., a Delaware corporation ("Corebridge"), Mountain Holding, Inc., a newly formed Delaware corporation and wholly-owned subsidiary of Corebridge ("HoldCo"), Marcy Holding, Inc., a newly formed Delaware corporation and a wholly-owned subsidiary of HoldCo ("Equitable Merger Sub"), and Palisade Holding, Inc., a newly formed Delaware corporation and a wholly-owned subsidiary of HoldCo ("Corebridge Merger Sub").

Equitable and Corebridge have agreed, subject to the terms and conditions of the Merger Agreement, to effect an all stock merger transaction to combine their respective businesses by: (a) Corebridge Merger Sub merging with and into Corebridge, with Corebridge surviving such merger as a wholly-owned subsidiary of HoldCo (the "Corebridge Merger"), (b) immediately following the consummation of the Corebridge Merger, Equitable Merger Sub merging with and into Equitable, with Equitable surviving such merger as a wholly-owned subsidiary of HoldCo (the "Equitable Merger" and, together with the Corebridge Merger, the "Mergers"), and (c) as of the closing of the Mergers (the "Closing"), changing the name of HoldCo to "Equitable Holdings, Inc.".

The Merger Agreement and the consummation of the transactions contemplated by the Merger Agreement have been unanimously approved by the boards of directors of both companies. The transaction is expected to close by year-end of 2026, subject to customary closing conditions, including the receipt of required regulatory approvals and approval of shareholders of both Corebridge and Equitable.