Document:

p-endxrilaxdd7x22

P-END-RILA-DD(7/22)  PRUCO LIFE INSURANCE COMPANY, PHOENIX, ARIZONA    [DUAL DIRECTIONAL] INDEX STRATEGY ENDORSEMENT    ANNUITY NUMBER: [001-00001]    EFFECTIVE DATE: [Contract Issue Date]    This Endorsement is made part of your Annuity and describes the [Dual Directional] Index Strategy. The  Indices and values provided below are applicable to your Annuity on the Effective Date. Other Buffers,  Indices, and Index Terms may be available and may vary in the future. If the Initial Index Strategy Base  below is equal to $0.00, there is no allocation to that Index Strategy as of the Effective Date.  We are  providing this Endorsement to help describe the [Dual Directional] Index Strategy in the event you wish to  allocate funds to this type of Index Strategy in the future as described in your Annuity, as long as the  Index Strategy is still available.  There are no explicit charges for allocations to the [Dual Directional]  Index Strategy.     Index Index  Value on  Effective  Date  Initial  Index  Term  Initial Index  Strategy  Base  Guaranteed  Minimum  Cap Rate  Initial Cap  Rate  Buffer  [AB 500 Plus  IndexSM]  [XXXX.XX] [6 Year] [$XXXXX.XX] [XX.XX%] [XX.XX%] [10.00%]  [Invesco QQQ  ETF]  [XXXX.XX] [6 Year] [$XXXXX.XX] [XX.XX%] [XX.XX%] [10.00%]  [iShares Russell  2000 ETF]  [XXXX.XX] [6 Year] [$XXXXX.XX] [XX.XX%] [XX.XX%] [10.00%]  [MSCI EAFE Index,  Price Return  (MXEA)]  [XXXX.XX] [6 Year] [$XXXXX.XX] [XX.XX%] [XX.XX%] [10.00%]  [S&P 500® Index,  Price Return  (SPX)]  [XXXX.XX] [6 Year] [$XXXXX.XX] [XX.XX%] [XX.XX%] [10.00%]    For the purposes of this Endorsement, the following definitions apply:      Cap Rate: The Cap Rate limits the amount of Index Credit that may be credited to the Index Strategy  Base on any Index Strategy End Date. The Cap Rate may vary by Index, Index Strategy Term and Buffer.  The initial Cap Rate is shown above and is applicable for the Index Term as of the Issue Date    Buffer: The Buffer limits the amount of negative Index Credit that may be applied to the Index Strategy  Base on any Index Strategy End Date. The Buffer may vary by Index and Index Strategy Term. The  Buffer is shown above.    [Dual Directional] Index Strategy Functionality    Index Credit: On each Index Strategy End Date, we will calculate the Index Credit, if any, to be credited  to the Index Strategy Base. The Index Credit is calculated by comparing the Cap Rate and Buffer to the  percentage change in the Index, known as the Index Return. The Index Return is determined by (A – B) /  B, where:    A = the Index Value on the Index Strategy End Date  B = the Index Value on the Index Strategy Start Date    If the Index Return is positive and greater than or equal to the Cap Rate, then the Index Credit is equal to  the Cap Rate. If the Index Return is zero or positive, but less than the Cap Rate, then the Index Credit is  equal to the Index Return.     If the Index Return is negative and is within or equal to the Buffer, then the Index Credit will be the  absolute value (without regard to the mathematical sign (positive or negative)) of the Index Return, not  

 

P-END-RILA-DD(7/22)  limited by the Cap Rate.  Otherwise, if the Index Return is negative and exceeds the Buffer, then the  Index Credit is equal to the Index Return plus the Buffer.    Subsequent Index Strategy Terms: We will declare a Cap Rate for each subsequent Index Strategy  Term. The new Cap Rates may be higher or lower than the initial Cap Rate and will never be lower than  the Guaranteed Minimum Cap Rate.    [Dual Directional] Index Strategy Interim Value    When you take a Partial Withdrawal, Surrender your Annuity or annuitize your Annuity between the Index  Strategy Start and End Dates, we will use an Interim Value to determine the fair market value of your  Index Strategy on the Valuation Day of the transaction. The Interim Value is also used in the event we  pay a death claim to your beneficiaries during an Index Term.    The Interim Value for the [Dual Directional] Index Strategy is equal to the sum of (1) and (2), where:    (1) Is the fair value of the Index Strategy Base on the Valuation Day the Interim Value is calculated. It  is determined as (A – B) multiplied by [(1 + C) divided by (1 + D)]E, where:   A. The Index Strategy Base on the Valuation Day the Interim Value is calculated;   B. The fair value of the replicating portfolio of options under initial market conditions, with  updated time to expiry;   C. The Market Value Index Rate on the Index Strategy Start Date;   D. The Market Value Index Rate on the Valuation Day the Interim Value is calculated; and   E. The total days remaining in the Index Strategy Term divided by 365.     (2) Is the fair value of the replicating portfolio of options    The fair value of the Index Strategy Base is meant to represent the market value of the assets, other than  hedge assets, supporting each Index Strategy. It includes a market value adjustment that reflects  movements in the interest rates and credit spreads.     The Market Value Index Rate will apply on a uniform basis for a class of contract owners in the same  Index Strategy and will be administered in a non-discriminatory manner.     The Market Value Index Rate is the [Bloomberg U.S. Intermediate Credit Index] rate. The [Bloomberg  U.S. Intermediate Credit Index] rate is the rate using a set duration. This set duration represents the  duration of the investments supporting the Index Strategy and may not match the actual length of the  Index Strategy.     If the [Bloomberg U.S. Intermediate Credit Index] rate is not published for a particular day, then we will  use the rate on the next day it is published. If the [Bloomberg U.S. Intermediate Credit Index] rate is no  longer published, or is discontinued, then we may substitute another suitable method for determining this  component of the Interim Value.       The fair values of the replicating portfolio of options are designated by us and are used to estimate the  market value of the possibility of gain or loss on the Index Strategy End Date. The value may be positive  or negative.    Signed for the Company and made a part of the Contract as of the Effective Date.    PRUCO LIFE INSURANCE COMPANY        [________________________________]  SECRETARYp-endxfgixpl9x22

P-END-FGI-PL(9/22) 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, except for withdrawals, partial  reallocations, and benefit charges. If you elect to start income on an Index Anniversary Date prior to the  Index Strategy End Date, the Performance Lock Value will be used to allocate to only those Allocation  Options we permit.    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, surrender, benefit charge, or partial reallocation 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.  

 

P-END-FGI-PL(9/22) 2    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. [Performance Lock is only available  during the Savings Stage and is not available during the Income Stage.]  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, partial  reallocations and benefit charges.  The Performance Lock Value is reduced for any withdrawals, partial  reallocations and benefit charges that occur between an Index Strategy Start Date and Index Strategy  End Date in the same proportion that the total withdrawal, partial reallocation or benefit charge 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, partial reallocations and  benefit charges 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 the 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, partial reallocations or benefit charges, 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, partial  reallocations and benefit charges  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, partial reallocations and benefit charges  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 the replicating portfolio of options as of the Performance Lock Date adjusted for  withdrawals, partial reallocations and benefit charges.    The Section of the Contract entitled Transfers Among the Index Strategies is hereby amended as follows:  

 

P-END-FGI-PL(9/22) 3    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.     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 and we did not receive instructions from you in Good Order  prior to the Index Anniversary, Account Value in any Index Strategy that has reached the Index Strategy  End Date will automatically be allocated to the Holding Account. If a Performance Lock was executed, the  Performance Lock Value will remain in the Index Strategy (and will not fluctuate, except for withdrawals,  partial reallocations, and benefit charges) until we receive instruction in Good Order for reallocation of the  Performance Lock Value to a new Index Strategy on a subsequent Index Anniversary Date or until the  Index Strategy has reached the Index Strategy End Date.               PRUCO LIFE INSURANCE COMPANY    [_____________________________]  [Secretary]

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