Document:

p-endxpl12x21

P-END-PL(12/21) 1  PRUCO LIFE INSURANCE COMPANY, PHOENIX, ARIZONA  PERFORMANCE LOCK INDEX LINKED VARIABLE ANNUITY ENDORSEMENT  ANNUITY NUMBER: [001-00001]  EFFECTIVE DATE: [Contract Issue Date]  This Endorsement is made a part of your Annuity.  For purposes of this Endorsement, certain provisions  of your Annuity are amended as described below.  If the terms of the Annuity and those of this  Endorsement conflict, the provisions of this Endorsement shall control.  Should this Endorsement  terminate, any amended or replaced Annuity provisions based on this Endorsements’ terms will revert to  the provisions in the Annuity, except as may be provided below.  This Endorsement should be read in  conjunction with any other Rider or Endorsement made a part of your Annuity.     For the purposes of this Endorsement, the following Definitions are added to your contract as follows:  Performance Lock – A feature under this Contract that allows you to capture the current Performance  Lock Value.  A Performance Lock Request may be submitted on any Valuation Day prior to the Index  Strategy End Date. Only one Performance Lock may be active for any given Index Strategy during a  respective Index Term.  Performance Locks may not be applied retroactively and must be for the full  amount of the Performance Lock Value. Partial locking of an Index Strategy is not permitted.  Once  locked, Index Credits will not apply on the Index Strategy End Date.  Performance Lock Date – The Valuation Date on which we process the Performance Lock transaction.  Performance Lock Request – You may request a Performance Lock by contacting us and providing in  Good Order instructions. Instructions received after the close of any Valuation Day will be applied on the  next Valuation Day.  Performance Lock Value - The value of an Index Strategy on any Valuation Day during an Index  Strategy Term other than the Index Strategy Start Date and Index Strategy End Date. It is a calculated  value (as described in the ‘Calculation of the Performance Lock Value’ section) and is used when a  Performance Lock transaction occurs between an Index Strategy Start Date and Index Strategy End  Date. Once locked, the Performance Lock Value will not fluctuate, unless a withdrawal or a reallocation  were to occur.   The Definition of Interim Value is hereby amended to add the following:  Interim Value: The value of an Index Strategy on any Valuation Day during an Index Strategy Term other  than the Index Strategy Start Date and Index Strategy End Date. The Interim Value is a calculated value  (as described in each Index Strategy Endorsement) and is used when a withdrawal, Death Benefit  payment, annuitization, or surrender occurs between an Index Strategy Start Date and Index Strategy  End Date. During an Index Strategy Term, the Interim Value is included in the Account Value and  Surrender Value. If a Performance Lock has occurred, an amended Interim Value will apply as described  in the ‘Calculation of the Interim Value after a Performance Lock’ section.   Performance Lock  A Performance Lock may be requested on any Valuation Day prior to the Index Strategy End Date.  We  will use the Performance Lock Value at the end of the Valuation Day we receive your Performance Lock  Request.  If you exercise a Performance Lock, you will no longer participate in the Index Strategy  performance and you may receive less than the full Index Credit, or less than the full protection of the  Buffer, than you would have received if you waited for us to apply the Index Credit on the Index Strategy  End Date.  Only one Performance Lock may occur for any given Index Strategy during a respective Index Term.   Performance Locks may not be applied retroactively and must be for the full amount of the Performance  Lock Value.  Partial locking of an Index Strategy is not permitted.  

 

P-END-PL(12/21) 2  Once a Performance Lock has been executed it cannot be reversed and the Performance Lock Value will  not fluctuate for the rest of the Strategy Term, with the exception of being reduced for withdrawals and  partial reallocations. The Performance Lock Value is reduced for any withdrawals and partial reallocations  that occur between an Index Strategy Start Date and Index Strategy End Date in the same proportion that  the total withdrawal or reallocation amount reduced the Interim Value. The Valuation Day upon which the  Performance Lock is executed is known as the Performance Lock Date.   Upon executing a Performance Lock, the Performance Lock Value will remain in the Index Strategy.  You  will be able to reallocate any portion of the Performance Lock Value to any available Index Strategy on  the next Index Anniversary.  For multi-year Index Strategy Terms, reallocation to a new Index Strategy is  permitted on Index Anniversaries occurring prior to the Index Strategy End Date without being subject to  the Interim Value. The Performance Lock Value is reduced for any withdrawals and partial reallocations  that occur between an Index Strategy Start Date and Index Strategy End Date in the same proportion that  the total withdrawal or reallocation amount reduced the Interim Value.  On the Index Strategy End Date,  any remaining Performance Lock Value must be reallocated to a new Index Strategy. Please see the  ‘Transfers Among the Index Strategy(ies)’ section for additional detail.   We reserve the right to limit the use of the feature for certain Index Strategies.  Additionally, we may  discontinue the use of this feature for future Performance Lock requests at any time.   Calculation of the Performance Lock Value  The Performance Lock Value calculation is the same for each Index Strategy.  Performance Lock Value is equal to [(1) + (2)], where:  1) is the fair value of the Index Strategy Base of an Index Strategy on the Valuation Day the Performance Lock Value is calculated. It is determined as (A – B), where: A = the Index Strategy Base on the Valuation Day of the calculation; B = the fair value of the options under initial market conditions, with updated time to expiry 2) is the fair value of replicating portfolio of options on the Valuation Day of the calculation Calculation of the Interim Value after a Performance Lock:  The Interim Value after a Performance Lock for the applicable Index Strategy is equal to [(1) + (2)],  where:  1) is the fair value of the Index Strategy Base of an Index Strategy as of the Performance Lock Date, adjusted for withdrawals and reallocations, with a current Valuation Day adjustment for any changes in the Market Value Index Rate. It is determined as (A – B) x [(1 + C) / (1 + D)]^E, where: A = the Index Strategy Base as of the Performance Lock Date adjusted for withdrawals and reallocations B = the fair value of the options under initial market conditions, with updated time to expiry, as of the Performance Lock Date adjusted for withdrawals and reallocations C = the Market Value Index Rate at the Index Start Date; D = the Market Value Index Rate at the current date; and E = the total days remaining in the Index Strategy Term divided by 365 2) is the fair value of replicating portfolio of options as of the Performance Lock Date adjusted for withdrawals and reallocations. The Section of the Contract entitled Transfers Among the Index Strategies is hereby amended as follows:  Transfers Among the Index Strategy(ies): You may transfer Account Value among the Index  Strategy(ies) according to the rules described in this paragraph. Transfers from the Index Strategy(ies) to  the Variable Sub-Accounts are not permissible at any time during the life of the Contract. Transfers from  the Index Strategy(ies) that have reached the Index Strategy End Date to new Index Strategy(ies) may  only occur on an Index Anniversary Date.   

 

P-END-PL(12/21) 3  For any Index Strategy(ies) where a Performance Lock has occurred, if you reallocate a portion of your  Performance Lock Value on an Index Anniversary that is not an Index Strategy End Date, the remaining  Performance Lock Value will be adjusted proportionally by the reduction in the Interim Value of this partial  reallocation.  If you reallocate your entire Performance Lock Value on an Index Anniversary that is not an  Index Strategy End Date, we will transfer the entire Performance Lock Value and the resulting Index  Strategy will become available for a new Performance Lock Request.  We will notify you in writing in advance of any Index Anniversary Date. Upon receipt of your instructions in  Good Order for reallocation of the Account Value to or from an Index Strategy, we will process the  reallocation on the Index Anniversary Date. If we do not receive instructions from you in Good Order prior  to the Index Anniversary, the Account Value in any Index Strategy that has reached the Index Strategy  End Date will automatically be allocated to the same Index Strategy and Index Strategy Term without the  Performance Lock. If the same Index Strategy is no longer available, or the Index Strategy Term goes  beyond the Latest Available Annuity Date, Account Value in any Index Strategy that has reached the  Index Strategy End Date will automatically be allocated to the Holding Account.  PRUCO LIFE INSURANCE COMPANY  [ ]  _____________________________  Secretaryp-endxta12x21

P-END-TA(12/21) 1  PRUCO LIFE INSURANCE COMPANY, PHOENIX, ARIZONA  TRANSFER ACCOUNT INDEX LINKED VARIABLE ANNUITY ENDORSEMENT  ANNUITY NUMBER: [001-00001]  EFFECTIVE DATE: [Contract Issue Date]  This Endorsement is made a part of your Annuity.  For purposes of this Endorsement, certain provisions  of your Annuity are amended as described below.  If the terms of the Annuity and those of this  Endorsement conflict, the provisions of this Endorsement shall control.  Should this Endorsement  terminate, any amended or replaced Annuity provisions based on this Endorsements’ terms will revert to  the provisions in the Annuity, except as may be provided below.  This Endorsement should be read in  conjunction with any other Rider or Endorsement made a part of your Annuity.     For the purposes of this Endorsement, the following Definitions are added or amended and restated to  your Contract as follows:  Account Value: The Interim Value for each Index Strategy plus the total value of all allocations to the  Variable Sub-Accounts and the Transfer Account on any Valuation Day other than the Index Strategy  Start Date and Index Strategy End Date. The Interim Value does not apply to an Index Strategy on the  Index Strategy Start Date and the Index Strategy End Date. On an Index Strategy Start Date, the Index  Strategy Base applicable to that Index Strategy would be used instead of the Interim Value. On an Index  Strategy End Date, the Index Strategy Base plus the Index Credit applicable to that Index Strategy would  be used instead of the Interim Value.  Transfer Account - An account we make available and designate as such for use with the Allocation of  the Initial Purchase Payment(s) and any Purchase Payments received within the Transfer Account  Period. The Transfer Account is available for a period of time ending upon the expiration of the Transfer  Account Period or the Index Effective Date, whichever occurs first.   Transfer Account Period - [45] days from the date that the [application is signed]  For the purposes of this Endorsement, the Allocation of Initial Purchase Payment Provision of the  Contract is amended to read as follows:  Allocation of Initial Purchase Payment(s): Issuance of an Annuity represents our acceptance of an  initial Purchase Payment. The amount of your initial Purchase Payment is shown in the Annuity Schedule.  On the Issue Date, we allocate all or part of your initial Purchase Payment to the Transfer Account, Index  Strategy(ies) and/or the Variable Sub-Accounts we make available according to your instructions. If you  allocate all or a portion of your initial Purchase Payment to the Transfer Account, on the last Valuation  Day of the Transfer Account Period, we will transfer your Account Value in the Transfer Account to the  Index Strategy(ies) according to your allocation instructions on file with us unless you have provided us  with alternate instructions for when to establish your Index Effective Date. If you specify a date to  establish your Index Effective Date that is after the Transfer Account Period, any Account Value allocated  to the Transfer Account on the last Valuation Day of the Transfer Account Period will be transferred to the  Holding Account until the Index Effective Date you specify, when it will be transferred to the Index  Strategy(ies) according to your allocation instructions on file with us.    If there is Account Value allocated to the Transfer Account at the end of the Transfer Account Period,  without instructions those funds will be transferred to the Holding Account.  If there is no Account Value allocated to the Transfer Account on the last Valuation Day of the Transfer  Account Period, no transfer will occur.   For the purposes of this Endorsement, the Distributions Section of the Contract is amended to read as  follows:  

 

P-END-TA(12/21) 2  General: We require you to submit a request in Good Order to our Service Office for any withdrawal or  surrender. We may also require that you send your Annuity to our Service Office as part of any surrender  request. Unless we receive instructions from you prior to a withdrawal, we will take the withdrawal first  pro-rata from the Variable Sub-Accounts in which your Account Value is allocated. Once the Account  Value in all Variable Sub-Accounts has been depleted, we will deduct any remaining withdrawals next  from the Transfer Account, if applicable, and then pro-rata from the Index Strategy(ies) in which you have  Account Value allocated. We price any distribution on the Valuation Day we receive all required materials  in Good Order.  Required Minimum Distributions: If your Annuity is being used for certain qualified purposes under the  Internal Revenue Code, you may be required to begin receiving minimum distributions on a periodic basis  from your Annuity. The total amount of the minimum distributions required under the Code may depend  on other annuities, savings or investments you have. We will calculate a required minimum distribution  amount each year, based solely on the value of this Annuity. The amount we calculate (“Required  Minimum Distribution”) will not be based on any other annuities, savings or investments. We will notify  you of the Required Minimum Distribution amount each year. If you choose to have this Required  Minimum Distribution paid out from this Annuity, you must do so through a program we make available.  If you choose to take your Required Minimum Distribution from this Annuity, unless we receive other  instructions from you, we will take each Required Minimum Distribution first pro-rata from the Variable  Sub-Accounts in which your Account Value is allocated. Once the Account Value in all Variable Sub- Accounts has been depleted, we will deduct any remaining Required Minimum Distribution next from the  Transfer Account, if applicable, and then pro-rata from the Index Strategy(ies) in which you have Account  Value allocated. If the amount of the Required Minimum Distribution reduces your Account Value below  the Minimum Surrender Value After a Partial Withdrawal, we may treat the distribution as a full surrender  of the Annuity. After the Annuity Date, we will view the annuity payments as your Required Minimum  Distributions with respect to the Annuity. If a Required Minimum Distributions occurs during an Index  Strategy Term, each Index Strategy Base impacted will be reduced proportionally by the applicable  amount that the Required Minimum Distribution reduced the Index Strategy’s Interim Value immediately  prior to the Required Minimum Distribution.   No Contingent Deferred Sales Charge is assessed against amounts withdrawn as Required Minimum  Distributions over your life or life expectancy, but only if we calculate the Required Minimum Distribution  amount for this Annuity and you are participating in a systematic withdrawal program established for their  payment. Any applicable Contingent Deferred Sales Charge may apply to amounts withdrawn to meet  minimum distributions in relation to other annuities, savings and investments you may have or to any  minimum distributions that are based on this Annuity but which are not calculated by us.  PRUCO LIFE INSURANCE COMPANY  [ ]  ____________________________ Secretary

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