Variable Account II (811-03330)

N-VPFS 1 d783836dnvpfs.htm VARIABLE ACCOUNT II (811-03330) Variable Account II (811-03330)

NATIONWIDE

VARIABLE

ACCOUNT-II

Annual Report

Contract Owners

December 31, 2023

LOGO

NATIONWIDE LIFE INSURANCE COMPANY

HOME OFFICE: COLUMBUS, OHIO



		KPMG LLP
		Suite 500 191 West Nationwide Blvd.
		Columbus, OH 43215-2568

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Nationwide Life Insurance Company and

Contract Owners of Nationwide Variable Account II:

Opinion on the Financial Statements

We have audited the accompanying statement of assets, liabilities and contract owners’ equity of the sub-accounts listed in the Appendix that comprise the Nationwide Variable Account II (the Separate Account), as of the date listed in the Appendix, the related statements of operations for the year or period listed in the Appendix and changes in contract owners’ equity for the years or periods listed in the Appendix, and the related notes including the financial highlights in Note 6 (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of each sub-account as of the date listed in the Appendix, the results of its operations for the year or period listed in the Appendix, the changes in its contract owners’ equity for the years or periods listed in the Appendix, and the financial highlights for each of the years or periods indicated in Note 6, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

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

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Such procedures also included confirmation of securities owned as of December 31, 2023, by correspondence with the transfer agent of the underlying mutual funds or by other appropriate auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have not been able to determine the specific year that we began serving as the auditor of one or more Nationwide Life Insurance Company separate account investment companies, however we are aware that we have served as the auditor of one or more Nationwide Life Insurance Company separate account investment companies since at least 1981.

Columbus, Ohio

April 1, 2024

KPMG LLP, a Delaware limited liability partnership and a member firm of

the KPMG global organization of independent member firms affiliated with

KPMG International Limited, a private English company limited by guarantee.

Appendix

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for each of the years in the two-year period then ended.

AB FUNDS

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Balanced Hedged Allocation Portfolio: Class B (ALVBWB) AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Dynamic Asset Allocation Portfolio: Class A (ALVDAA) AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class B (ALVGIB)¹

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class A (ALVSVA)¹

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)¹

ALLSPRING GLOBAL INVESTMENTS

Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)¹

Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)

Allspring Variable Trust - VT Discovery All Cap Growth Fund: Class 2 (WFVOG2)¹

Allspring Variable Trust - VT Small Cap Growth Fund: Class 2 (WFVSCG)

ALPS FUNDS

ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)

ALPS Variable Investment Trust - ALPS Global Opportunity Portfolio: Class III (ARLPE3)¹

AMERICAN CENTURY INVESTMENTS

American Century Variable Portfolios, Inc. - American Century VP Balanced Fund: Class I (ACVB)

American Century Variable Portfolios, Inc. - American Century VP Capital Appreciation Fund: Class I (ACVCA)

American Century Variable Portfolios, Inc. - American Century VP International Fund: Class I (ACVI)

American Century Variable Portfolios, Inc. - American Century VP Disciplined Core Value Fund: Class I (ACVIG)

American Century Variable Portfolios, Inc. - American Century VP Disciplined Core Value Fund: Class II (ACVIG2)

American Century Variable Portfolios II, Inc. - American Century VP Inflation Protection Fund: Class I (ACVIP1)

American Century Variable Portfolios II, Inc. - American Century VP Inflation Protection Fund: Class II (ACVIP2)

American Century Variable Portfolios, Inc. - American Century VP Mid Cap Value Fund: Class I (ACVMV1)

American Century Variable Portfolios, Inc. - American Century VP Mid Cap Value Fund: Class II (ACVMV2)

American Century Variable Portfolios, Inc. - American Century VP Value Fund: Class II (ACVV2)

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 1 (AFGC)

American Funds Insurance Series(R) - Growth Fund: Class 1 (AFGF)

American Funds Insurance Series(R) - American High-Income Trust: Class 1 (AFHY)

American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)

American Funds Insurance Series(R) - Capital Income Builder(R): Class 4 (AMVCB4)

American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)

American Funds Insurance Series(R) - International Fund: Class 4 (AMVI4)

American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)

American Funds Insurance Series(R) - Managed Risk Asset Allocation Fund: Class P2 (AVPAP2)

BLACKROCK FUNDS

BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)

BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)

BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)

BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)

BNY MELLON INVESTMENT MANAGEMENT

BNY Mellon Variable Investment Fund - Appreciation Portfolio: Initial Shares (DCAP)

BNY Mellon Variable Investment Fund - Appreciation Portfolio: Service Shares (DCAPS)

BNY Mellon Variable Investment Fund - Growth and Income Portfolio: Initial Shares (DGI)

BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)

BNY Mellon Stock Index Fund, Inc.: Service Shares (DSIFS)

BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)

BNY Mellon Variable Investment Fund - Opportunistic Small Cap Portfolio: Service Shares (DVDLS)

BNY Mellon Investment Portfolios - MidCap Stock Portfolio: Service Shares (DVMCSS)

BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)

CHARLES SCHWAB FUNDS

Schwab Annuity Portfolios - Schwab(R) Government Money Market Portfolio (CHSMM)¹

COLUMBIA FUNDS MANAGEMENT COMPANY

Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - High Yield Bond Fund: Class 2 (CLVHY2)

DELAWARE FUNDS BY MACQUARIE

Delaware VIP Trust - Delaware VIP Small Cap Value Series: Service Class (DWVSVS)

EATON VANCE FUNDS

Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)

FEDERATED HERMES, INC.

Federated Hermes Insurance Series - Federated Hermes Quality Bond Fund II: Primary Shares (FQB)

Federated Hermes Insurance Series - Federated Hermes Quality Bond Fund II: Service Shares (FQBS)

Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Service Shares (FVU2S)

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Asset Manager Portfolio: Initial Class (FAMP)

Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)

Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)

Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)

Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Initial Class (FEIP)

Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2010 Portfolio: Service Class (FF10S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2010 Portfolio: Service Class 2 (FF10S2)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2020 Portfolio: Service Class (FF20S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2020 Portfolio: Service Class 2 (FF20S2)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2030 Portfolio: Service Class (FF30S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2030 Portfolio: Service Class 2 (FF30S2)

Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)

Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)

Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Initial Class (FGP)

Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Initial Class (FHIP)

Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class 2 (FIGBP2)

Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class (FIGBS)

Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)

Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class (FMCS)

Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)

Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)

Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Initial Class (FOP)

Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)

Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)

Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class (FVSS)

Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

Franklin Templeton Variable Insurance Products Trust - Templeton Developing Markets VIP Fund: Class 2 (FTVDM2)

Franklin Templeton Variable Insurance Products Trust - Franklin Allocation VIP Fund: Class 2 (FTVFA2)

Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)

Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)

Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Global Discovery VIP Fund: Class 2 (FTVMD2)

Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)

Franklin Templeton Variable Insurance Products Trust - Franklin Strategic Income VIP Fund: Class 2 (FTVSI2)

Franklin Templeton Variable Insurance Products Trust - Franklin Small Cap Value VIP Fund: Class 2 (FTVSV2)

Franklin Templeton Variable Insurance Products Trust - Templeton Foreign VIP Fund: Class 2 (TIF2)

GOLDMAN SACHS ASSET MANAGEMENT GROUP

Goldman Sachs Variable Insurance Trust - Goldman Sachs Trend Driven Allocation Fund: Service Shares (GVGMNS)

Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Service Shares (GVMSAS) Goldman Sachs Variable Insurance Trust - Goldman Sachs Small Cap Equity Insights Fund: Service Shares (GVSSCS)

GUGGENHEIM INVESTMENTS

Rydex Variable Trust - Guggenheim Long Short Equity Fund (RSRF)

Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)

INVESCO INVESTMENTS

Invesco - Invesco V.I. American Franchise Fund: Series II Shares (ACEG2)

Invesco Variable Insurance Funds - Invesco V.I. Balanced- Risk Allocation Fund: Series I Shares (IVBRA1)

Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)

Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series I (OVAG)

Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series II (OVAG2)

Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)

Invesco - Invesco V.I. Global Fund: Series I (OVGS)

Invesco - Invesco V.I. Global Fund: Series II (OVGSS)

Invesco Oppenheimer V.I. International Growth Fund: Series I (OVIG)

Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)

Invesco - Invesco V.I. Conservative Balanced Fund: Series I (OVMS)

Invesco - Invesco V.I. Global Strategic Income Fund: Series I (OVSB)

Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)

Invesco - Invesco V.I. Main Street Small Cap Fund: Series I (OVSC)

Invesco - Invesco V.I. Main Street Small Cap Fund: Series II (OVSCS)

IVY INVESTMENTS

Ivy Variable Insurance Portfolios - Delaware Ivy Asset Strategy: Class II (WRASP)

Ivy Variable Insurance Portfolios - Delaware Ivy Energy: Class II (WRENG)

Ivy Variable Insurance Portfolios - Delaware Ivy High Income: Class II (WRHIP)

Ivy Variable Insurance Portfolios - Delaware Ivy Mid Cap Growth: Class II (WRMCG)

Ivy Variable Insurance Portfolios - Delaware Ivy Pathfinder Aggressive: Class II (WRPAP)

Ivy Variable Insurance Portfolios - Delaware Ivy Pathfinder Conservative: Class II (WRPCP)

Ivy Variable Insurance Portfolios - Delaware Ivy Pathfinder Moderately Aggressive: Class II (WRPMAP)

Ivy Variable Insurance Portfolios - Delaware Ivy Pathfinder Moderately Aggressive - Managed Volatility: Class II (WRPMAV)

Ivy Variable Insurance Portfolios - Delaware Ivy Pathfinder Moderately Conservative: Class II (WRPMCP)

Ivy Variable Insurance Portfolios - Delaware Ivy Pathfinder Moderate: Class II (WRPMP)

JANUS HENDERSON INVESTORS

Janus Aspen Series - Janus Henderson Balanced Portfolio: Service Shares (JABS)

Janus Aspen Series - Janus Henderson Forty Portfolio: Service Shares (JACAS)

Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)

Janus Aspen Series - Janus Henderson Global Technology and Innovation Portfolio: Service Shares (JAGTS)

Janus Aspen Series - Janus Henderson Overseas Portfolio: Service Shares (JAIGS)

Janus Aspen Series - Janus Henderson Enterprise Portfolio: Service Shares (JAMGS)

LAZARD FUNDS

Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)

LINCOLN FUNDS

Lincoln Variable Insurance Products Trust - LVIP Delaware Value Fund: Service Class (LDVS)

LORD ABBETT FUNDS

Lord Abbett Series Fund, Inc. - Short Duration Income Portfolio: Class VC (LOVSDC)

Lord Abbett Series Fund, Inc. - Total Return Portfolio: Class VC (LOVTRC)

MAINSTAY FUNDS

MainStay VP Funds Trust - MainStay VP MacKay Convertible Portfolio: Service 2 Class (MNCPS2)

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust II - MFS Massachusetts Investors Growth Stock Portfolio: Service Class (M2IGSS)

MFS(R) Variable Insurance Trust III - MFS Global Real Estate Portfolio: Service Class (M3GRES)

MFS(R) Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)

MFS(R) Variable Insurance Trust II - MFS Research International Portfolio: Service Class (MV2RIS)

MFS(R) Variable Insurance Trust III - MFS Mid Cap Value Portfolio: Service Class (MV3MVS)

MFS(R) Variable Insurance Trust II - MFS Blended Research(R) Core Equity Portfolio: Service Class (MVBRES)

MFS(R) Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)

MFS(R) Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)

MFS(R) Variable Insurance Trust II - MFS International Intrinsic Value Portfolio: Service Class (MVIVSC)

MFS(R) Variable Insurance Trust - MFS Total Return Bond Series: Service Class (MVRBSS)

MFS(R) Variable Insurance Trust - MFS Utilities Series: Service Class (MVUSC)

MERGER FUNDS

The Merger Fund VL - The Merger Fund VL: Class I (MGRFV) ¹

MORGAN STANLEY

Morgan Stanley Variable Insurance Fund, Inc. - Emerging Markets Debt Portfolio: Class I (MSEM)

Morgan Stanley Variable Insurance Fund, Inc. - Emerging Markets Debt Portfolio: Class II (MSEMB)

Morgan Stanley Variable Insurance Fund, Inc. - Global Infrastructure Portfolio: Class II (MSGI2)

Morgan Stanley Variable Insurance Fund, Inc. - Growth Portfolio: Class II (MSVEG2)

Morgan Stanley Variable Insurance Fund, Inc. - U.S. Real Estate Portfolio: Class I (MSVRE)

Morgan Stanley Variable Insurance Fund, Inc. - U.S. Real Estate Portfolio: Class II (MSVREB)

Morgan Stanley Variable Insurance Fund, Inc. - Global Real Estate Portfolio: Class II (VKVGR2)

NATIONWIDE FUNDS GROUP

Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class II (DTRTFB)

Nationwide Variable Insurance Trust - NVIT BlackRock Equity Dividend Fund: Class I (EIF)

Nationwide Variable Insurance Trust - NVIT BlackRock Equity Dividend Fund: Class II (EIF2)

Nationwide Variable Insurance Trust - NVIT Government Bond Fund: Class I (GBF)

Nationwide Variable Insurance Trust - NVIT Government Bond Fund: Class II (GBF2)

Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class I (GEM)

Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)

Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)

Nationwide Variable Insurance Trust - NVIT American Funds Asset Allocation Fund: Class II (GVAAA2)

Nationwide Variable Insurance Trust - NVIT American Funds Bond Fund: Class II (GVABD2)

Nationwide Variable Insurance Trust - NVIT American Funds Global Growth Fund: Class II (GVAGG2)

Nationwide Variable Insurance Trust - NVIT American Funds Growth-Income Fund: Class II (GVAGI2)

Nationwide Variable Insurance Trust - NVIT American Funds Growth Fund: Class II (GVAGR2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Aggressive Fund: Class II (GVDMA)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Conservative Fund: Class II (GVDMC)

Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class I (GVEX1)

Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class II (GVEX2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Aggressive Fund: Class II (GVIDA)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Conservative Fund: Class II (GVIDC)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderate Fund: Class II (GVIDM)

Nationwide Variable Insurance Trust - NVIT International Index Fund: Class II (GVIX2)

Nationwide Variable Insurance Trust - NVIT International Index Fund: Class VIII (GVIX8)

Nationwide Variable Insurance Trust - NVIT Federated High Income Bond Fund: Class I (HIBF)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Managed Growth Fund: Class II (IDPG2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Managed Growth & Income Fund: Class II (IDPGI2)

Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class I (MCIF)

Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class II (MCIF2)

Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)

Nationwide Variable Insurance Trust - NVIT Managed American Funds Asset Allocation Fund: Class II (NAMAA2)

Nationwide Variable Insurance Trust - NVIT Managed American Funds Growth-Income Fund: Class II (NAMGI2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Managed Growth Fund: Class II (NCPG2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Managed Growth & Income Fund: Class II (NCPGI2)

Nationwide Variable Insurance Trust - NVIT J.P. Morgan Mozaic(SM) Multi- Asset Fund: Class II (NJMMA2)

Nationwide Variable Insurance Trust - NVIT J.P. Morgan U.S. Equity Fund: Class II (NJNDE2)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class I (NVAMV1)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class II (NVAMV2)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class Z (NVAMVZ)

Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class I (NVBX)

Nationwide Variable Insurance Trust - NVIT Core Bond Fund: Class I (NVCBD1)

Nationwide Variable Insurance Trust - NVIT Core Bond Fund: Class II (NVCBD2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Capital Appreciation Fund: Class II (NVCCA2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Conservative Fund: Class II (NVCCN2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Aggressive Fund: Class II (NVCMA2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Conservative Fund: Class II (NVCMC2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderate Fund: Class II (NVCMD2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Aggressive Fund: Class II (NVCRA2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Balanced Fund: Class II (NVCRB2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Balanced Fund: Class II (NVDBL2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Capital Appreciation Fund: Class II (NVDCA2)

Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class II (NVFIII)

Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class II (NVGEII)

Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class II (NVIE6)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class II (NVLCP2)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class P (NVLCPP)

Nationwide Variable Insurance Trust - NVIT BlackRock Managed Global Allocation Fund: Class II (NVMGA2)

Nationwide Variable Insurance Trust - NVIT NS Partners International Focused Growth Fund: Class I (NVMIG1)

Nationwide Variable Insurance Trust - NVIT NS Partners International Focused Growth Fund: Class II (NVMIG6)

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class Z (NVMIVZ)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class II (NVMLG2)

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class II (NVMM2)

Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class I (NVMMG1)

Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class II (NVMMG2)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Mid Cap Value Fund: Class I (NVMMV1)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Mid Cap Value Fund: Class II (NVMMV2)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class I (NVNMO1)¹

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class II (NVNMO2)¹

Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)¹

Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class II (NVNSR2)¹

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class I (NVOLG1)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class II (NVOLG2)

Nationwide Variable Insurance Trust - NVIT Real Estate Fund: Class I (NVRE1)

Nationwide Variable Insurance Trust - NVIT Real Estate Fund: Class II (NVRE2)

Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class II (NVSIX2)

Nationwide Variable Insurance Trust - NVIT Loomis Short Term Bond Fund: Class II (NVSTB2)¹

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class I (NVTIV3)

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class I (SAM)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Company Fund: Class I (SCF)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Company Fund: Class II (SCF2)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Growth Fund: Class I (SCGF)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Growth Fund: Class II (SCGF2)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Value Fund: Class I (SCVF)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Value Fund: Class II (SCVF2)

Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)

Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class II (TRF2)

NEUBERGER & BERMAN MANAGEMENT, INC.

Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)¹

Neuberger Berman Advisers Management Trust - International Equity Portfolio: Class S Shares (AMINS)¹

Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class S Shares (AMMCGS)¹

Neuberger Berman Advisers Management Trust - Sustainable Equity Portfolio: Class I Shares (AMSRS)

Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)¹

NORTHERN LIGHTS

Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 4 (NOTB4)

Northern Lights Variable Trust - TOPS Managed Risk Growth ETF Portfolio: Class 4 (NOTG4)

Northern Lights Variable Trust - TOPS Managed Risk Moderate Growth ETF Portfolio: Class 4 (NOTMG4)

PIMCO FUNDS

PIMCO Variable Insurance Trust - Dynamic Bond Portfolio: Advisor Class (PMUBA)

PIMCO Variable Insurance Trust - All Asset Portfolio: Advisor Class (PMVAAD)

PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Advisor Class (PMVEBD)

PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Advisor Class (PMVFAD)

PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)

PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Advisor Class (PMVFHV)

PIMCO Variable Insurance Trust - High Yield Portfolio: Advisor Class (PMVHYD)

PIMCO Variable Insurance Trust - Income Portfolio: Advisor Class (PMVIV)

PIMCO Variable Insurance Trust - Low Duration Portfolio: Advisor Class (PMVLAD)

PIMCO Variable Insurance Trust - Real Return Portfolio - Advisor Class (PMVRA)

PIMCO Variable Insurance Trust - CommodityRealReturn(R) Strategy Portfolio: Advisor Class (PMVRSD)

PIMCO Variable Insurance Trust - Short-Term Portfolio: Advisor Class (PMVSTA)

PIMCO Variable Insurance Trust - Total Return Portfolio: Advisor Class (PMVTRD)

PUTNAM INVESTMENTS

Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)

Putnam Variable Trust - Putnam VT Large Cap Growth Fund: Class IB (PVGOB)¹

Putnam Variable Trust - Putnam VT International Value Fund: Class IB (PVIGIB)

Putnam Variable Trust - Putnam VT International Equity Fund: Class IB (PVTIGB)

ROYCE CAPITAL FUNDS

Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)

T. ROWE PRICE

T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)

VAN ECK ASSOCIATES CORPORATION

VanEck VIP Trust - VanEck VIP Global Gold Fund: Class S (VVGGS)

VanEck VIP Trust - VanEck VIP Emerging Markets Bond Fund: Initial Class (VWBF)

VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)

VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)

VanEck VIP Trust - VanEck VIP Global Resources Fund: Class S (VWHAS)

VIRTUS MUTUAL FUNDS

Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2023 and the period from February 15, 2022 (inception) to December 31, 2022.

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust - MFS Mid Cap Growth Series: Service Class (MMCGSC)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2023 and the period from April 29, 2022 (inception) to December 31, 2022.

INVESCO INVESTMENTS

Invesco - Invesco V.I. Core Plus Bond Fund: Series I Shares (IVCPBI)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2023 and the period from May 10, 2022 (inception) to December 31, 2022.

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 2 (AMVGV2)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2023 and the period from June 3, 2022 (inception) to December 31, 2022.

ALGER AMERICAN FUNDS

Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, and the related statements of operations and changes in contract owners’ equity for the period from April 28, 2023 (inception) to December 31, 2023.

LINCOLN FUNDS

Lincoln Variable Insurance Products Trust - LVIP JPMorgan Core Bond Fund: Service Class (LJPCBS)

Lincoln Variable Insurance Products Trust - LVIP JPMorgan Mid Cap Value Fund: Standard Class (LJPMVS)

INVESCO INVESTMENTS

Invesco - Invesco V.I. Core Plus Bond Fund: Series II Shares (IVCPB2)

Invesco - Invesco V.I. Diversified Dividend Fund: Series II Shares (IVDDII)

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)

MFS(R) Variable Insurance Trust II - MFS Corporate Bond Portfolio: Service Class (MVBDS)

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 4 (AMVUA4)

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust II - MFS Income Portfolio: Service Class (MVIPSC)

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust II - MFS Income Portfolio: Service Class (MVIPSC)

MFS(R) Variable Insurance Trust III - MFS Limited Maturity Portfolio: Service Class (MV3LMS)

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Value Portfolio: Service Class 2 (FV2)

Fidelity Variable Insurance Products Fund - VIP International Capital Appreciation Portfolio: Service Class 2 (FVICA2)

Fidelity Variable Insurance Products Fund - VIP Strategic Income Portfolio: Service Class 2 (FVSIS2)

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Disciplined Small Cap Portfolio: Service Class 2 (FDSCS2)

T. ROWE PRICE

T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)

INVESCO INVESTMENTS

Invesco - Invesco V.I. High Yield Fund: Series II Shares (AVHY2)

BLACKROCK FUNDS

BlackRock Variable Series Funds, Inc. - BlackRock Capital Appreciation V.I. Fund: Class III (BRVCA3)

BlackRock Variable Series Funds, Inc. - BlackRock 60/40 Target Allocation ETF V.I. Fund: Class III (BRVDA3)

PUTNAM INVESTMENTS

Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)

JANUS HENDERSON INVESTORS

Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)

⁽¹⁾	See Note 1 to the financial statements for the former name of the sub-account.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023


Subaccount,*	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
ALVBWB		20,252	$	202,201	$	174,776	$	-	$	174,776	$	8	$	174,768	$	174,768	$	-	$	174,768
ALVDAA		6,221		66,699		55,674		-		55,674		3		55,671		55,671		-		55,671
ALVGIB		148,448		4,184,873		4,272,320		-		4,272,320		120		4,272,200		4,272,200		-		4,272,200
ALVIVB		152,598		2,169,960		2,244,714		-		2,244,714		133		2,244,581		2,244,581		-		2,244,581
ALVSVA		14,613		273,651		258,798		-		258,798		17		258,781		258,781		-		258,781
ALVSVB		6,381,847		110,417,082		111,299,410		-		111,299,410		10,271		111,289,139		111,286,624		2,515		111,289,139
ALMGI2		16,841		263,734		283,776		-		283,776		7		283,769		283,769		-		283,769
SVDF		1,146		31,294		23,455		2,091		25,546		-		25,546		-		25,546		25,546
SVOF		5,487		137,570		142,594		38,662		181,256		-		181,256		-		181,256		181,256
WFVOG2		532		14,142		12,700		-		12,700		2		12,698		12,698		-		12,698
WFVSCG		14,785,273		156,899,685		116,212,243		-		116,212,243		234		116,212,009		116,209,616		2,393		116,212,009
AAEIP3		14,733		156,967		159,406		-		159,406		9		159,397		159,397		-		159,397
ARLPE3		7,885		101,256		96,274		-		96,274		5		96,269		96,269		-		96,269
ACVB		2,567,720		19,206,046		19,643,059		3,924		19,646,983		-		19,646,983		19,593,563		53,420		19,646,983
ACVCA		1,966		27,823		27,959		1,607		29,566		-		29,566		-		29,566		29,566
ACVI		609		6,590		6,447		268		6,715		-		6,715		-		6,715		6,715
ACVIG		1,530,819		13,857,435		11,741,384		-		11,741,384		150		11,741,234		11,740,501		733		11,741,234
ACVIG2		370,708		3,323,427		2,843,330		-		2,843,330		123		2,843,207		2,843,207		-		2,843,207
ACVIP1		286,683		2,985,262		2,691,952		-		2,691,952		19		2,691,933		2,691,933		-		2,691,933
ACVIP2		22,506,073		238,009,458		210,881,901		39,719		210,921,620		-		210,921,620		210,777,705		143,915		210,921,620
ACVMV1		452,133		9,142,659		8,789,459		1,755		8,791,214		-		8,791,214		8,777,372		13,842		8,791,214
ACVMV2		7,970,432		159,591,471		155,184,313		41,927		155,226,240		-		155,226,240		155,155,496		70,744		155,226,240
ACVV2		1,944,290		23,035,404		23,739,784		-		23,739,784		373		23,739,411		23,739,411		-		23,739,411
AFGC		35,361		382,091		350,423		318		350,741		-		350,741		349,715		1,026		350,741
AFGF		144,374		12,069,591		14,356,516		2,366		14,358,882		-		14,358,882		14,357,848		1,034		14,358,882
AFHY		20,353		179,910		181,954		1,905		183,859		-		183,859		178,862		4,997		183,859
AMVBC4		3,269,959		41,858,007		45,975,628		-		45,975,628		274		45,975,354		45,975,354		-		45,975,354
AMVCB4		93,961		1,066,136		1,089,944		-		1,089,944		13		1,089,931		1,089,931		-		1,089,931
AMVGS4		151,779		2,678,380		2,650,055		-		2,650,055		27		2,650,028		2,650,028		-		2,650,028
AMVGV2		2,239,714		22,232,034		21,904,401		-		21,904,401		137		21,904,264		21,904,264		-		21,904,264
AMVI4		47,936		864,957		821,147		-		821,147		18		821,129		821,129		-		821,129
AMVNW4		612,003		14,268,662		15,269,470		-		15,269,470		140		15,269,330		15,269,330		-		15,269,330
AMVUA4		52,544		506,427		513,350		-		513,350		2		513,348		513,348		-		513,348
AVPAP2		42,493,206		512,481,450		489,946,663		796		489,947,459		-		489,947,459		489,923,282		24,177		489,947,459
BRVDA3		109,851		1,374,842		1,444,546		-		1,444,546		3		1,444,543		1,444,543		-		1,444,543
BRVED3		17,355,946		191,330,723		183,973,030		-		183,973,030		17		183,973,013		183,932,975		40,038		183,973,013
BRVHY3		9,926,326		70,845,308		67,896,067		338,833		68,234,900		-		68,234,900		68,220,109		14,791		68,234,900

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023


Subaccount,*	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
BRVTR3		50,360,353		579,286,966		508,639,568		1,491,503		510,131,071		-		510,131,071		510,113,688		17,383		510,131,071
MLVGA3		20,993,509		299,623,710		273,545,417		41,021		273,586,438		-		273,586,438		273,311,258		275,180		273,586,438
BRVCA3		140,035		1,066,811		1,135,681		-		1,135,681		3		1,135,678		1,135,678		-		1,135,678
DCAP		731		31,119		25,583		-		25,583		77		25,506		-		25,506		25,506
DCAPS		8,625		376,571		295,677		-		295,677		14		295,663		295,663		-		295,663
DGI		483,591		14,232,012		15,629,661		-		15,629,661		1,420		15,628,241		15,620,103		8,138		15,628,241
DSIF		3,282,710		158,389,064		226,769,581		36,660		226,806,241		-		226,806,241		226,509,474		296,767		226,806,241
DSIFS		6,644		446,502		460,201		1,896		462,097		-		462,097		439,218		22,879		462,097
DSRG		878,582		32,541,763		39,518,615		-		39,518,615		574		39,518,041		39,496,780		21,261		39,518,041
DVDLS		14,502		622,512		567,012		-		567,012		79		566,933		566,933		-		566,933
DVMCSS		1,798,733		32,437,744		33,384,489		173		33,384,662		-		33,384,662		33,374,766		9,896		33,384,662
DVSCS		2,784,285		46,233,250		51,732,016		6,885		51,738,901		-		51,738,901		51,685,721		53,180		51,738,901
CHSMM		7,194,075		7,194,075		7,194,075		-		7,194,075		19		7,194,056		7,194,056		-		7,194,056
CLVHY2		2,977,532		16,851,254		17,954,517		-		17,954,517		274		17,954,243		17,954,243		-		17,954,243
DWVSVS		1,946,854		66,690,251		74,253,017		531		74,253,548		-		74,253,548		74,250,064		3,484		74,253,548
ETVFR		10,913,279		95,994,465		94,399,867		583		94,400,450		-		94,400,450		94,396,483		3,967		94,400,450
FQB		346,473		3,720,393		3,513,235		-		3,513,235		105		3,513,130		3,513,130		-		3,513,130
FQBS		1,055,142		11,456,472		10,678,033		-		10,678,033		340		10,677,693		10,674,950		2,743		10,677,693
FVU2S		57,764		593,172		531,428		-		531,428		61		531,367		531,367		-		531,367
FAMP		4,395,844		67,888,002		68,751,005		7,177		68,758,182		-		68,758,182		68,693,843		64,339		68,758,182
FB2		52,491,918		1,028,526,28		1,130,675,915		6,279		1,130,682,194		-		1,130,682,194		1,130,525,700		156,494		1,130,682,194
FC2		6,241,031		285,249,163		292,267,462		-		292,267,462		7,735		292,259,727		292,222,037		37,690		292,259,727
FDSCS2		72,717		1,063,677		1,187,466		-		1,187,466		2		1,187,464		1,187,464		-		1,187,464
FEI2		14,441,937		315,173,953		345,306,706		11,471		345,318,177		-		345,318,177		345,156,489		161,688		345,318,177
FEIP		9,905,657		220,802,759		246,155,587		24,347		246,179,934		-		246,179,934		245,675,400		504,534		246,179,934
FEMS2		4,559,217		58,053,141		48,236,520		-		48,236,520		420		48,236,100		48,236,100		-		48,236,100
FF10S		279,864		3,389,550		3,165,262		-		3,165,262		71		3,165,191		3,165,191		-		3,165,191
FF10S2		18,967,098		242,241,930		212,810,839		18,984		212,829,823		-		212,829,823		212,725,081		104,742		212,829,823
FF20S		482,724		5,956,488		6,009,914		-		6,009,914		1,910		6,008,004		5,968,711		39,293		6,008,004
FF20S2		23,613,430		303,418,991		292,806,530		52,490		292,859,020		-		292,859,020		292,401,183		457,837		292,859,020
FF30S		979,379		14,447,449		14,994,292		-		14,994,292		114		14,994,178		14,994,178		-		14,994,178
FF30S2		5,508,664		81,121,774		84,007,130		1,823		84,008,953		-		84,008,953		84,002,790		6,163		84,008,953
FG2		8,709,395		717,304,241		783,148,840		-		783,148,840		87,573		783,061,267		782,534,846		526,421		783,061,267
FGI2		33,433,378		714,212,224		873,279,838		1,958		873,281,796		-		873,281,796		873,245,799		35,997		873,281,796
FGP		5,369,446		394,913,467		499,895,460		57,617		499,953,077		-		499,953,077		499,480,065		473,012		499,953,077
FHIP		5,312,985		27,493,508		24,439,730		10,906		24,450,636		-		24,450,636		24,372,475		78,161		24,450,636
FIGBP2		102,230,440		1,276,155,25		1,106,133,362		14,587		1,106,147,949		-		1,106,147,949		1,106,075,773		72,176		1,106,147,949

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023


Subaccount,*	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
FIGBS		1,041,707		11,721,251		11,469,194		9,490		11,478,684		-		11,478,684		11,462,088		16,596		11,478,684
FMC2		5,117,131		161,688,714		177,513,273		1,545		177,514,818		-		177,514,818		177,501,499		13,319		177,514,818
FMCS		432,148		15,333,660		15,518,445		588		15,519,033		-		15,519,033		15,509,274		9,759		15,519,033
FNRS2		3,921,465		88,378,444		96,428,819		850		96,429,669		-		96,429,669		96,415,049		14,620		96,429,669
FO2		4,314,594		98,941,265		110,065,291		-		110,065,291		6,242		110,059,049		109,890,412		168,637		110,059,049
FOP		1,672,023		35,645,876		43,171,627		-		43,171,627		2,906		43,168,721		43,118,412		50,309		43,168,721
FRESS2		853,595		16,224,464		14,408,691		-		14,408,691		326		14,408,365		14,408,365		-		14,408,365
FV2		72,531		1,286,931		1,355,599		-		1,355,599		3		1,355,596		1,355,596		-		1,355,596
FVFRHI		1,774,984		17,865,714		17,483,590		-		17,483,590		24		17,483,566		17,483,566		-		17,483,566
FVICA2		100,297		1,895,409		2,100,213		-		2,100,213		2		2,100,211		2,100,211		-		2,100,211
FVSIS2		262,703		2,685,083		2,718,981		-		2,718,981		3		2,718,978		2,718,978		-		2,718,978
FVSS		322,013		5,111,419		5,306,771		-		5,306,771		109		5,306,662		5,306,662		-		5,306,662
FVSS2		1,482,072		22,903,044		24,824,704		952		24,825,656		-		24,825,656		24,806,796		18,860		24,825,656
FTVDM2		662,702		6,355,064		5,454,039		-		5,454,039		349		5,453,690		5,453,690		-		5,453,690
FTVFA2		12,147,413		65,267,570		59,522,325		5,026		59,527,351		-		59,527,351		59,450,650		76,701		59,527,351
FTVGI2		4,023,143		63,287,914		51,657,151		20,296		51,677,447		-		51,677,447		51,505,103		172,344		51,677,447
FTVIS2		13,198,646		197,076,422		187,420,773		27,749		187,448,522		-		187,448,522		187,230,491		218,031		187,448,522
FTVMD2		34,933		614,255		642,064		-		642,064		22		642,042		642,042		-		642,042
FTVRD2		396		12,480		10,670		3,322		13,992		-		13,992		-		13,992		13,992
FTVSI2		48,645		464,412		438,292		-		438,292		13		438,279		438,279		-		438,279
FTVSV2		4,303,496		52,426,416		57,107,397		-		57,107,397		190		57,107,207		57,097,240		9,967		57,107,207
TIF2		1,339,775		17,041,198		19,078,400		-		19,078,400		3,144		19,075,256		19,053,458		21,798		19,075,256
GVGMNS		713,963		8,140,993		8,103,483		2,182		8,105,665		-		8,105,665		8,094,281		11,384		8,105,665
GVMSAS		791,232		7,196,239		7,034,049		-		7,034,049		193		7,033,856		7,033,856		-		7,033,856
GVSSCS		44,520		491,975		539,578		-		539,578		19		539,559		539,559		-		539,559
RSRF		3,396		59,069		57,624		-		57,624		10		57,614		57,614		-		57,614
RVARS		540,282		14,260,899		13,987,895		6,303		13,994,198		-		13,994,198		13,973,271		20,927		13,994,198
ACEG2		5,822		315,360		309,776		240		310,016		-		310,016		310,016		-		310,016
AVHY2		32,673		149,570		151,275		-		151,275		2		151,273		151,273		-		151,273
IVBRA1		19,972		193,651		173,357		-		173,357		4		173,353		173,353		-		173,353
IVCPB2		697,920		3,860,085		3,957,205		-		3,957,205		2		3,957,203		3,957,203		-		3,957,203
IVCPBI		1,937,011		11,340,642		11,118,441		-		11,118,441		2,806		11,115,635		11,069,909		45,726		11,115,635
IVDDII		89,609		2,169,471		2,149,724		-		2,149,724		4		2,149,720		2,149,720		-		2,149,720
IVMCC2		1,115,168		10,478,125		10,471,430		6,276		10,477,706		-		10,477,706		10,446,690		31,016		10,477,706
OVAG		147,163		11,162,347		9,243,278		-		9,243,278		162		9,243,116		9,243,116		-		9,243,116
OVAG2		223,123		14,679,379		12,050,873		15,661		12,066,534		-		12,066,534		12,018,587		47,947		12,066,534
OVGIS		856		14,303		15,220		2,347		17,567		-		17,567		7,772		9,795		17,567

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023


Subaccount,*	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
OVGS		3,140,539		116,574,319		114,818,095		-		114,818,095		17,110		114,800,985		114,686,473		114,512		114,800,985
OVGSS		3,340,413		127,593,279		118,584,661		-		118,584,661		12,847		118,571,814		118,446,875		124,939		118,571,814
OVIG		699,149		1,566,410		1,412,280		-		1,412,280		21		1,412,259		1,412,259		-		1,412,259
OVIGS		479,899		1,118,168		1,026,984		-		1,026,984		48		1,026,936		1,026,936		-		1,026,936
OVMS		1,175,617		17,019,622		18,057,478		4,545		18,062,023		-		18,062,023		17,989,019		73,004		18,062,023
OVSB		272,976		1,101,139		1,171,066		-		1,171,066		74		1,170,992		1,170,992		-		1,170,992
OVSBS		742,009		3,088,425		3,279,681		277		3,279,958		-		3,279,958		3,277,923		2,035		3,279,958
OVSC		179,789		4,303,283		4,838,135		329		4,838,464		-		4,838,464		4,830,262		8,202		4,838,464
OVSCS		4,715,663		110,133,378		124,021,930		1,977		124,023,907		-		124,023,907		123,923,638		100,269		124,023,907
WRASP		11,443,799		104,883,813		100,247,680		31,504		100,279,184		-		100,279,184		100,006,226		272,958		100,279,184
WRENG		20,071		82,333		102,361		-		102,361		6		102,355		102,355		-		102,355
WRHIP		15,783,696		51,375,672		46,561,904		28,568		46,590,472		-		46,590,472		46,455,701		134,771		46,590,472
WRMCG		21,633,243		266,172,298		216,332,434		-		216,332,434		846		216,331,588		216,331,588		-		216,331,588
WRPAP		3,483		15,390		12,958		-		12,958		2		12,956		12,956		-		12,956
WRPCP		576,366		2,524,934		2,351,574		-		2,351,574		12		2,351,562		2,351,562		-		2,351,562
WRPMAP		7,101,148		30,929,397		27,268,408		-		27,268,408		21		27,268,387		27,268,387		-		27,268,387
WRPMAV		668,879		3,097,686		2,842,734		-		2,842,734		10		2,842,724		2,842,724		-		2,842,724
WRPMCP		976,621		4,481,885		3,877,186		-		3,877,186		98		3,877,088		3,877,088		-		3,877,088
WRPMP		4,056,482		18,083,918		15,576,891		-		15,576,891		19		15,576,872		15,576,872		-		15,576,872
JABS		1,999,511		95,020,836		96,076,482		-		96,076,482		367		96,076,115		96,076,115		-		96,076,115
JACAS		2,764,334		105,623,553		117,456,558		11,636		117,468,194		-		117,468,194		117,281,976		186,218		117,468,194
JAFBS		10,625,191		134,914,678		118,577,127		1,092		118,578,219		-		118,578,219		118,555,611		22,608		118,578,219
JAGSEI		59,462		573,171		620,782		-		620,782		12		620,770		620,770		-		620,770
JAGTS		21,056,357		317,211,036		338,165,098		-		338,165,098		1,776		338,163,322		338,137,209		26,113		338,163,322
JAIGS		716,294		20,429,793		28,709,046		-		28,709,046		671		28,708,375		28,708,375		-		28,708,375
JAMGS		34,284		2,442,344		2,344,000		-		2,344,000		39		2,343,961		2,343,961		-		2,343,961
LZREMS		69,700		1,372,777		1,451,850		-		1,451,850		67		1,451,783		1,451,783		-		1,451,783
LDVS		38,374		1,034,875		967,781		15		967,796		-		967,796		967,796		-		967,796
LJPCBS		7,944,117		77,086,937		77,431,308		-		77,431,308		85		77,431,223		77,431,223		-		77,431,223
LJPMVS		887,702		8,277,651		9,030,594		-		9,030,594		140		9,030,454		9,030,454		-		9,030,454
LOVSDC		177,453		2,410,984		2,312,206		-		2,312,206		24		2,312,182		2,312,182		-		2,312,182
LOVTRC		8,274,342		132,685,006		117,495,655		-		117,495,655		418		117,495,237		117,495,237		-		117,495,237
MNCPS2		27,381		442,116		401,386		-		401,386		23		401,363		401,363		-		401,363
M2IGSS		268,282		6,047,877		5,929,031		-		5,929,031		210		5,928,821		5,928,821		-		5,928,821
M3GRES		16,177		282,529		257,693		-		257,693		18		257,675		257,675		-		257,675
MEGSS		78,806		4,145,832		4,387,910		-		4,387,910		3		4,387,907		4,387,907		-		4,387,907
MMCGSC		852,589		5,696,864		6,326,211		-		6,326,211		8		6,326,203		6,326,203		-		6,326,203

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023


Subaccount,*	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
MNDSC		8,913,149		110,139,497		90,022,802		2,810		90,025,612		-		90,025,612		90,001,614		23,998		90,025,612
MV2RIS		1,562,557		24,306,756		25,985,330		-		25,985,330		229		25,985,101		25,985,101		-		25,985,101
MV3LMS		262,299		2,560,016		2,617,749		-		2,617,749		12		2,617,737		2,617,737		-		2,617,737
MV3MVS		4,997,773		48,630,982		48,378,441		-		48,378,441		358		48,378,083		48,378,083		-		48,378,083
MVBDS		418,567		3,776,881		3,921,972		-		3,921,972		4		3,921,968		3,921,968		-		3,921,968
MVBRES		14,169		814,494		774,500		-		774,500		10		774,490		774,490		-		774,490
MVFSC		17,386,981		378,563,838		360,084,384		17,023		360,101,407		-		360,101,407		360,015,040		86,367		360,101,407
MVIGSC		3,786,181		52,980,284		54,634,594		-		54,634,594		310		54,634,284		54,634,284		-		54,634,284
MVIPSC		262,757		2,107,627		2,186,138		-		2,186,138		4		2,186,134		2,186,134		-		2,186,134
MVIVSC		9,472,843		275,796,403		273,102,070		9,144		273,111,214		-		273,111,214		272,947,701		163,513		273,111,214
MVRBSS		179,414		2,097,552		2,057,877		-		2,057,877		26		2,057,851		2,057,851		-		2,057,851
MVUSC		8,331		298,576		262,755		-		262,755		17		262,738		262,738		-		262,738
MSEM		123,505		893,550		679,275		-		679,275		76		679,199		679,199		-		679,199
MSEMB		63,292		431,505		344,307		-		344,307		67		344,240		344,240		-		344,240
MSGI2		3,189,794		22,401,564		19,266,354		7,133		19,273,487		-		19,273,487		19,210,381		63,106		19,273,487
MSVEG2		4,197,774		34,919,622		42,523,455		-		42,523,455		307		42,523,148		42,523,148		-		42,523,148
MSVRE		493		8,299		7,165		2,632		9,797		-		9,797		-		9,797		9,797
MSVREB		26		384		377		-		377		377		-		-		-		-
VKVGR2		28,830		258,618		217,375		-		217,375		13		217,362		217,362		-		217,362
DTRTFB		3,341,839		30,947,035		28,439,047		-		28,439,047		303		28,438,744		28,438,744		-		28,438,744
EIF		256,125		4,949,280		4,991,870		-		4,991,870		23		4,991,847		4,991,847		-		4,991,847
EIF2		23,006,232		439,214,868		442,639,896		20,843		442,660,739		-		442,660,739		442,548,038		112,701		442,660,739
GBF		13,009,590		142,647,508		123,200,814		36,848		123,237,662		-		123,237,662		123,002,215		235,447		123,237,662
GBF2		25,902		254,517		244,772		-		244,772		18		244,754		244,754		-		244,754
GEM		452,845		5,799,448		4,745,812		1,518		4,747,330		-		4,747,330		4,728,782		18,548		4,747,330
GEM2		6,653,053		89,947,577		68,592,971		24,900		68,617,871		-		68,617,871		68,374,015		243,856		68,617,871
GIG		1,073,611		11,051,252		11,541,314		-		11,541,314		7,424		11,533,890		11,489,206		44,684		11,533,890
GVAAA2		237,341,869		5,499,247,62		6,033,230,298		43,952		6,033,274,250		-		6,033,274,250		6,032,551,410		722,840		6,033,274,250
GVABD2		306,477,615		3,569,188,90		3,343,670,776		117,377		3,343,788,153		-		3,343,788,153		3,343,368,141		420,012		3,343,788,153
GVAGG2		12,803,416		415,640,004		449,784,001		600		449,784,601		-		449,784,601		449,726,169		58,432		449,784,601
GVAGI2		61,265,774		3,259,206,50		3,852,391,841		-		3,852,391,841		41,905		3,852,349,936		3,852,034,803		315,133		3,852,349,936
GVAGR2		13,187,093		1,328,403,36		1,427,107,257		32,632		1,427,139,889		-		1,427,139,889		1,426,872,814		267,075		1,427,139,889
GVDMA		61,057,923		656,296,133		555,627,103		2,095		555,629,198		-		555,629,198		555,531,174		98,024		555,629,198
GVDMC		51,087,538		536,389,429		470,005,353		29,116		470,034,469		-		470,034,469		469,819,265		215,204		470,034,469
GVEX1		150,230		1,580,251		1,379,110		-		1,379,110		7		1,379,103		1,379,103		-		1,379,103
GVEX2		229,888,307		2,491,468,45		2,057,500,350		-		2,057,500,350		2,850		2,057,497,500		2,057,358,863		138,637		2,057,497,500
GVIDA		19,849,949		226,418,963		202,667,975		4,112		202,672,087		-		202,672,087		202,647,266		24,821		202,672,087

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023


Subaccount,*	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
GVIDC		43,390,220		423,416,408		408,735,873		13,566		408,749,439		-		408,749,439		408,702,312		47,127		408,749,439
GVIDM		172,845,668		1,800,416,74		1,495,115,031		11,763		1,495,126,794		-		1,495,126,794		1,494,925,041		201,753		1,495,126,794
GVIX2		703,113		7,250,782		7,417,839		-		7,417,839		50		7,417,789		7,417,789		-		7,417,789
GVIX8		14,385,839		141,588,235		150,763,592		-		150,763,592		10,657		150,752,935		150,674,907		78,028		150,752,935
HIBF		7,065,749		44,279,048		40,910,689		4,112		40,914,801		-		40,914,801		40,880,877		33,924		40,914,801
IDPG2		94,927,699		1,006,311,03		968,262,532		-		968,262,532		427		968,262,105		968,262,105		-		968,262,105
IDPGI2		39,165,211		413,791,597		401,835,063		-		401,835,063		101		401,834,962		401,830,404		4,558		401,834,962
MCIF		21,406,921		443,964,096		403,306,399		10,724		403,317,123		-		403,317,123		403,225,619		91,504		403,317,123
MCIF2		214,760		4,699,710		3,958,019		-		3,958,019		34		3,957,985		3,912,988		44,997		3,957,985
MSBF		21,679,383		194,630,412		181,239,643		2,125		181,241,768		-		181,241,768		181,225,490		16,278		181,241,768
NAMAA2		263,340,806		2,714,298,21		2,514,904,696		-		2,514,904,696		1,108		2,514,903,588		2,514,903,588		-		2,514,903,588
NAMGI2		51,410,447		601,432,207		727,971,936		945		727,972,881		-		727,972,881		727,965,515		7,366		727,972,881
NCPG2		93,749,829		988,513,032		1,141,872,919		-		1,141,872,919		3,498		1,141,869,421		1,141,841,795		27,626		1,141,869,421
NCPGI2		41,865,716		437,628,323		490,247,530		580		490,248,110		-		490,248,110		490,233,327		14,783		490,248,110
NJMMA2		3,730,745		36,102,853		33,017,096		-		33,017,096		119		33,016,977		33,016,977		-		33,016,977
NJNDE2		4,722,263		70,884,386		80,231,247		-		80,231,247		220		80,231,027		80,231,027		-		80,231,027
NVAMV1		1,921,672		29,526,181		32,264,879		2,083		32,266,962		-		32,266,962		32,236,521		30,441		32,266,962
NVAMV2		3,858,428		51,652,569		64,281,416		17,811		64,299,227		-		64,299,227		64,175,200		124,027		64,299,227
NVAMVX		314,468		5,317,854		5,270,486		-		5,270,486		125		5,270,361		5,270,361		-		5,270,361
NVAMVZ		9,522,879		143,864,204		157,317,969		-		157,317,969		1,044		157,316,925		157,316,925		-		157,316,925
NVBX		93,526		894,250		858,566		-		858,566		11		858,555		858,555		-		858,555
NVCBD1		285,664		2,983,552		2,613,829		-		2,613,829		71		2,613,758		2,613,758		-		2,613,758
NVCBD2		10,560,073		112,008,088		96,307,868		52,187		96,360,055		-		96,360,055		96,173,906		186,149		96,360,055
NVCCA2		174,929,613		1,824,166,65		1,873,496,152		36,576		1,873,532,728		-		1,873,532,728		1,873,345,878		186,850		1,873,532,728
NVCCN2		47,866,630		491,811,781		497,334,286		13,807		497,348,093		-		497,348,093		497,317,884		30,209		497,348,093
NVCMA2		30,206,648		279,703,391		311,128,474		-		311,128,474		736		311,127,738		311,127,738		-		311,127,738
NVCMC2		46,540,091		500,484,741		502,632,979		12,298		502,645,277		-		502,645,277		502,550,980		94,297		502,645,277
NVCMD2		168,796,790		1,807,274,43		1,855,076,723		11,121		1,855,087,844		-		1,855,087,844		1,854,960,885		126,959		1,855,087,844
NVCRA2		10,396,537		111,519,092		128,085,334		527		128,085,861		-		128,085,861		128,082,358		3,503		128,085,861
NVCRB2		140,812,954		1,554,718,16		1,564,431,916		38,678		1,564,470,594		-		1,564,470,594		1,564,241,519		229,075		1,564,470,594
NVDBL2		88,195,184		1,270,501,62		1,154,474,959		7,348		1,154,482,307		-		1,154,482,307		1,154,389,192		93,115		1,154,482,307
NVDCA2		85,112,706		1,238,058,44		1,064,759,947		43,053		1,064,803,000		-		1,064,803,000		1,064,486,223		316,777		1,064,803,000
NVFIII		4,498,341		46,777,451		42,869,194		-		42,869,194		182		42,869,012		42,869,012		-		42,869,012
NVGEII		3,658,746		54,440,053		58,247,238		-		58,247,238		217		58,247,021		58,247,021		-		58,247,021
NVIE6		3,592,424		36,689,870		38,151,544		-		38,151,544		3,790		38,147,754		38,116,632		31,122		38,147,754
NVLCP2		75,892		778,566		761,194		1,758		762,952		-		762,952		756,331		6,621		762,952
NVLCPP		39,020,064		446,782,223		387,469,235		6,052		387,475,287		-		387,475,287		387,369,150		106,137		387,475,287

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023


Subaccount,*	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
NVMGA2		29,353,276		316,061,122		339,030,340		479		339,030,819		-		339,030,819		339,015,555		15,264		339,030,819
NVMIG1		2,174,212		22,588,152		16,893,627		-		16,893,627		12,715		16,880,912		16,761,977		118,935		16,880,912
NVMIG6		19,536,892		205,145,517		150,629,435		-		150,629,435		881		150,628,554		150,626,104		2,450		150,628,554
NVMIVX		159,600		1,581,938		1,870,513		-		1,870,513		1,550		1,868,963		1,854,186		14,777		1,868,963
NVMIVZ		13,434,683		144,819,881		157,185,785		-		157,185,785		1,241		157,184,544		157,176,808		7,736		157,184,544
NVMLG1		1,917,307		16,048,276		16,297,109		14,105		16,311,214		-		16,311,214		16,274,446		36,768		16,311,214
NVMLG2		26,569,354		213,961,324		214,414,685		5,173		214,419,858		-		214,419,858		214,404,285		15,573		214,419,858
NVMM2		2,156,843		2,156,843		2,156,843		-		2,156,843		20		2,156,823		2,156,823		-		2,156,823
NVMMG1		21,452,957		198,081,696		134,510,038		27,228		134,537,266		-		134,537,266		134,331,293		205,973		134,537,266
NVMMG2		18,461,903		139,098,093		100,063,514		2,534		100,066,048		-		100,066,048		100,053,703		12,345		100,066,048
NVMMV1		61,778		484,099		473,223		-		473,223		12		473,211		473,211		-		473,211
NVMMV2		26,526,063		222,148,151		205,046,470		7,336		205,053,806		-		205,053,806		204,945,097		108,709		205,053,806
NVNMO1		5,825,097		61,620,870		73,337,965		2,570		73,340,535		-		73,340,535		73,203,345		137,190		73,340,535
NVNMO2		3,577,199		40,356,727		44,035,323		-		44,035,323		410		44,034,913		44,030,843		4,070		44,034,913
NVNSR1		138,788		1,851,809		1,671,005		-		1,671,005		73		1,670,932		1,670,932		-		1,670,932
NVNSR2		7,480,848		97,984,270		89,994,603		3,818		89,998,421		-		89,998,421		89,981,990		16,431		89,998,421
NVOLG1		20,015,086		358,468,438		422,318,319		49,729		422,368,048		-		422,368,048		421,747,263		620,785		422,368,048
NVOLG2		25,713,493		544,048,955		534,840,665		-		534,840,665		7,963		534,832,702		534,612,263		220,439		534,832,702
NVRE1		4,415,097		30,053,785		32,539,268		10,165		32,549,433		-		32,549,433		31,778,029		771,404		32,549,433
NVRE2		9,596,074		71,406,150		69,667,501		688		69,668,189		-		69,668,189		69,652,098		16,091		69,668,189
NVSIX2		26,735,964		215,827,600		211,481,477		1,591		211,483,068		-		211,483,068		211,394,938		88,130		211,483,068
NVSTB2		16,782,282		168,792,401		161,277,729		2,667		161,280,396		-		161,280,396		161,265,090		15,306		161,280,396
NVTIV3		1,878,859		16,129,798		22,208,114		-		22,208,114		743		22,207,371		22,186,381		20,990		22,207,371
SAM		797,811,363		797,811,363		797,811,363		545,789		798,357,152		-		798,357,152		794,786,461		3,570,691		798,357,152
SCF		3,123,348		57,101,958		56,907,407		21,502		56,928,909		-		56,928,909		56,784,283		144,626		56,928,909
SCF2		4,060,014		69,380,084		65,203,833		48,977		65,252,810		-		65,252,810		65,186,049		66,761		65,252,810
SCGF		355,522		5,615,208		4,877,765		-		4,877,765		127		4,877,638		4,877,638		-		4,877,638
SCGF2		4,858,143		62,918,721		55,722,900		-		55,722,900		503		55,722,397		55,721,552		845		55,722,397
SCVF		2,342,452		22,020,883		22,065,896		6,313		22,072,209		-		22,072,209		21,963,922		108,287		22,072,209
SCVF2		5,464,226		45,678,888		48,194,475		-		48,194,475		583		48,193,892		48,193,892		-		48,193,892
TRF		5,263,373		82,668,876		111,583,508		62,895		111,646,403		-		111,646,403		111,193,139		453,264		111,646,403
TRF2		4,764,107		99,991,881		100,332,104		5,045		100,337,149		-		100,337,149		100,313,544		23,605		100,337,149
AMCG		184		5,101		4,897		-		4,897		1,293		3,604		-		3,604		3,604
AMINS		13,587		125,424		97,692		-		97,692		16		97,676		97,676		-		97,676
AMMCGS		100,143		2,748,651		2,295,267		-		2,295,267		194		2,295,073		2,295,073		-		2,295,073
AMSRS		413,928		10,107,322		13,804,491		-		13,804,491		3,196		13,801,295		13,774,708		26,587		13,801,295
AMTB		4,276,795		44,484,966		41,228,300		5,344		41,233,644		-		41,233,644		41,209,251		24,393		41,233,644

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023


Subaccount,*	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
NOTB4		316,838		4,604,821		4,068,204		354		4,068,558		-		4,068,558		4,063,676		4,882		4,068,558
NOTG4		272,718		4,320,326		3,329,882		-		3,329,882		141		3,329,741		3,329,741		-		3,329,741
NOTMG4		372,860		4,025,854		4,246,875		-		4,246,875		140		4,246,735		4,246,735		-		4,246,735
PMUBA		8,778		88,590		76,191		-		76,191		14		76,177		76,177		-		76,177
PMVAAD		3,821,795		39,678,960		35,160,517		11,380		35,171,897		-		35,171,897		35,115,689		56,208		35,171,897
PMVEBD		1,160,194		14,118,127		12,240,047		79		12,240,126		-		12,240,126		12,237,595		2,531		12,240,126
PMVFAD		1,620,234		15,531,955		12,265,169		-		12,265,169		471		12,264,698		12,264,698		-		12,264,698
PMVFHA		16,559		181,717		162,775		-		162,775		46		162,729		162,729		-		162,729
PMVFHV		128		1,404		1,257		-		1,257		3		1,254		1,254		-		1,254
PMVHYD		55,340		423,961		397,340		-		397,340		14		397,326		397,326		-		397,326
PMVIV		1,404,892		14,119,638		13,978,674		-		13,978,674		138		13,978,536		13,978,536		-		13,978,536
PMVLAD		33,164,179		336,372,758		318,376,121		3,781		318,379,902		-		318,379,902		318,359,447		20,455		318,379,902
PMVRA		136,089		1,694,668		1,574,551		-		1,574,551		11		1,574,540		1,574,540		-		1,574,540
PMVRSD		229,750		1,825,624		1,254,433		-		1,254,433		29		1,254,404		1,254,404		-		1,254,404
PMVSTA		11,033,026		113,085,098		112,867,855		-		112,867,855		471		112,867,384		112,867,384		-		112,867,384
PMVTRD		25,798		237,998		236,827		355		237,182		-		237,182		236,076		1,106		237,182
PVEIB		4,518,981		124,515,693		130,237,043		20,667		130,257,710		-		130,257,710		130,099,240		158,470		130,257,710
PVGOB		344,714		4,346,452		4,646,743		-		4,646,743		172		4,646,571		4,646,571		-		4,646,571
PVIGIB		1,872,715		19,642,471		22,023,128		-		22,023,128		271		22,022,857		22,022,857		-		22,022,857
PVNOB		61,796		2,270,643		2,447,120		-		2,447,120		8		2,447,112		2,447,112		-		2,447,112
PVTIGB		1,902,841		27,860,106		29,056,389		-		29,056,389		4,516		29,051,873		28,988,121		63,752		29,051,873
ROCSC		6,755		56,133		64,779		-		64,779		8		64,771		64,771		-		64,771
TRHS2		5,713,791		263,385,881		296,260,076		27,974		296,288,050		-		296,288,050		296,162,901		125,149		296,288,050
TRMCG2		546,300		14,583,232		14,761,037		-		14,761,037		40		14,760,997		14,760,997		-		14,760,997
VVGGS		38,645		339,339		323,842		-		323,842		18		323,824		323,824		-		323,824
VWBF		557,316		4,736,991		4,246,748		760		4,247,508		-		4,247,508		4,226,078		21,430		4,247,508
VWEM		777,281		9,772,549		7,158,756		1,409		7,160,165		-		7,160,165		7,150,731		9,434		7,160,165
VWHA		365,488		10,714,485		9,718,334		23,604		9,741,938		-		9,741,938		9,560,002		181,936		9,741,938
VWHAS		1,583,991		43,342,078		40,265,063		3,660		40,268,723		-		40,268,723		40,253,974		14,749		40,268,723
VRVDRA		900,735		19,493,669		17,510,294		-		17,510,294		271		17,510,023		17,510,023		-		17,510,023

*	Represents abbreviation of investment name. For full investment name and related abbreviation, see note 1(b).

**	For all subaccounts not included herein but listed as an investment option in note 1(b), Total Assets and Contract Owners’ Equity at the end of the period are $0. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2023, if applicable.

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	ALVBWB			ALVDAA			ALVGIB			ALVIVB			ALVSVA			ALVSVB			ALMGI2			SVDF
Reinvested dividends	$	1,497			447			52,051			15,404			4,132			849,619			-			-
Mortality and expense risk charges (note 2)		(703	)		(303	)		(60,640	)		(73,028	)		(1,632	)		(1,554,340	)		(2,943	)		(381	)

Net investment income (loss)		794			144			(8,589	)		(57,624	)		2,500			(704,721	)		(2,943	)		(381	)

Realized gain (loss) on investments		(14,008	)		(164	)		(3	)		135,101			10,411			(1,967,373	)		(3,538	)		(1,147	)
Change in unrealized gain (loss) on investments		24,730			6,373			91,186			382,664			(6,303	)		8,728,778			56,125			5,445

Net gain (loss) on investments		10,722			6,209			91,183			517,765			4,108			6,761,405			52,587			4,298

Reinvested capital gains		8,578			-			328,787			-			32,541			8,932,762			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	20,094			6,353			411,381			460,141			39,149			14,989,446			49,644			3,917


*Investment Activity:**	SVOF			WFVOG2			WFVSCG			AAEIP3			ARLPE3			ACVB			ACVCA			ACVI
Reinvested dividends	$	-			-			-			4,708			-			372,593			-			94
Mortality and expense risk charges (note 2)		(2,511	)		(157	)		(1,697,596	)		(828	)		(517	)		(257,407	)		(411	)		(96	)

Net investment income (loss)		(2,511	)		(157	)		(1,697,596	)		3,880			(517	)		115,186			(411	)		(2	)

Realized gain (loss) on investments		(1,610	)		(2	)		(5,363,721	)		(1,386	)		(1,635	)		(166,519	)		(432	)		33
Change in unrealized gain (loss) on investments		23,703			2,034			10,058,622			14,399			23,797			2,754,570			5,452			654

Net gain (loss) on investments		22,093			2,032			4,694,901			13,013			22,162			2,588,051			5,020			687

Reinvested capital gains		13,215			1,186			-			1,687			-			-			40			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	32,797			3,061			2,997,305			18,580			21,645			2,703,237			4,649			685

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	ACVIG			ACVIG2			ACVIP1			ACVIP2			ACVMV1			ACVMV2			ACVV2			AFGC
Reinvested dividends	$	183,139			36,467			99,990			7,360,070			213,855			3,335,277			652,523			13,833
Mortality and expense risk charges (note 2)		(159,257	)		(37,872	)		(11,998	)		(3,246,984	)		(106,859	)		(2,303,451	)		(445,848	)		(4,967	)

Net investment income (loss)		23,882			(1,405	)		87,992			4,113,086			106,996			1,031,826			206,675			8,866

Realized gain (loss) on investments		(656,297	)		(133,746	)		(80,850	)		(3,442,157	)		(307,055	)		(1,986,749	)		(3,856,152	)		(7,074	)
Change in unrealized gain (loss) on investments		1,426,309			304,774			87,765			3,467,027			(482,787	)		(9,829,001	)		1,972,902			4,047

Net gain (loss) on investments		770,012			171,028			6,915			24,870			(789,842	)		(11,815,750	)		(1,883,250	)		(3,027	)

Reinvested capital gains		-			-			-			-			1,105,068			17,498,897			3,380,298			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	793,894			169,623			94,907			4,137,956			422,222			6,714,973			1,703,723			5,839


*Investment Activity:**	AFGF			AFHY			AMVBC4			AMVCB4			AMVGS4			AMVGV2			AMVI4			AMVNW4
Reinvested dividends	$	76,639			13,016			633,769			26,422			345			739,067			8,588			152,910
Mortality and expense risk charges (note 2)		(164,763	)		(2,866	)		(392,097	)		(4,749	)		(10,272	)		(217,622	)		(6,191	)		(110,373	)

Net investment income (loss)		(88,124	)		10,150			241,672			21,673			(9,927	)		521,445			2,397			42,537

Realized gain (loss) on investments		161,091			(18,185	)		(294,556	)		(337	)		(13,897	)		(385,356	)		(11,397	)		(13,269	)
Change in unrealized gain (loss) on investments		3,184,928			29,323			4,777,544			54,946			254,287			(38,483	)		113,468			1,007,426

Net gain (loss) on investments		3,346,019			11,138			4,482,988			54,609			240,390			(423,839	)		102,071			994,157

Reinvested capital gains		706,420			-			244,176			-			9,394			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	3,964,315			21,288			4,968,836			76,282			239,857			97,606			104,468			1,036,694

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	AMVUA4			AVPAP2			BRVDA3			BRVED3			BRVHY3			BRVTR3			MLVGA3			BRVCA3
Reinvested dividends	$	14,414			9,102,128			25,726			3,273,345			3,928,131			17,219,571			6,629,798			-
Mortality and expense risk charges (note 2)		(1,116	)		(7,524,396	)		(5,289	)		(2,704,110	)		(887,512	)		(6,530,996	)		(4,337,453	)		(2,912	)

Net investment income (loss)		13,298			1,577,732			20,437			569,235			3,040,619			10,688,575			2,292,345			(2,912	)

Realized gain (loss) on investments		(109	)		(3,187,891	)		2,502			(3,914,854	)		(1,250,022	)		(5,674,275	)		(6,601,333	)		2,638
Change in unrealized gain (loss) on investments		6,923			(16,621,912	)		69,703			12,951,260			4,870,997			13,487,146			31,603,323			68,870

Net gain (loss) on investments		6,814			(19,809,803	)		72,205			9,036,406			3,620,975			7,812,871			25,001,990			71,508

Reinvested capital gains		-			58,428,163			-			8,781,667			-			-			-			52,283

Net increase (decrease) in contract owners’ equity resulting from operations	$	20,112			40,196,092			92,642			18,387,308			6,661,594			18,501,446			27,294,335			120,879


*Investment Activity:**	DCAP			DCAPS			DGI			DSIF			DSIFS			DSRG			DVDLS			DVMCSS
Reinvested dividends	$	176			1,328			94,608			3,034,059			5,292			273,461			526			175,453
Mortality and expense risk charges (note 2)		(380	)		(2,247	)		(191,507	)		(2,851,481	)		(6,717	)		(489,352	)		(7,852	)		(487,932	)

Net investment income (loss)		(204	)		(919	)		(96,899	)		182,578			(1,425	)		(215,891	)		(7,326	)		(312,479	)

Realized gain (loss) on investments		(1,760	)		(10,737	)		(47,245	)		14,362,082			(30,659	)		(16,270	)		(27,367	)		(1,030,283	)
Change in unrealized gain (loss) on investments		4,146			37,018			1,805,434			24,187,406			115,117			3,321,731			61,802			5,112,622

Net gain (loss) on investments		2,386			26,281			1,758,189			38,549,488			84,458			3,305,461			34,435			4,082,339

Reinvested capital gains		2,135			23,768			1,557,975			7,973,175			17,646			4,391,288			14,332			1,030,624

Net increase (decrease) in contract owners’ equity resulting from operations	$	4,317			49,130			3,219,265			46,705,241			100,679			7,480,858			41,441			4,800,484

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	DVSCS			CHSMM			CLVHY2			DWVSVS			ETVFR			FQB			FQBS			FVU2S
Reinvested dividends	$	526,175			291,370			759,439			443,423			7,982,663			95,025			260,234			8,437
Mortality and expense risk charges (note 2)		(708,163	)		(57,616	)		(278,533	)		(1,016,407	)		(1,382,560	)		(48,661	)		(161,915	)		(7,218	)

Net investment income (loss)		(181,988	)		233,754			480,906			(572,984	)		6,600,103			46,364			98,319			1,219

Realized gain (loss) on investments		(275,772	)		-			79,095			(1,045,264	)		(739,329	)		(124,750	)		(174,500	)		(10,684	)
Change in unrealized gain (loss) on investments		4,069,022			-			2,036,200			4,002,662			3,112,594			237,827			522,662			43,963

Net gain (loss) on investments		3,793,250			-			2,115,295			2,957,398			2,373,265			113,077			348,162			33,279

Reinvested capital gains		2,746,801			10			-			2,972,079			-			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	6,358,063			233,764			2,596,201			5,356,493			8,973,368			159,441			446,481			34,498


*Investment Activity:**	FAMP			FB2			FC2			FDSCS2			FEI2			FEIP			FEMS2			FF10S
Reinvested dividends	$	1,558,479			16,240,617			684,606			5,346			5,790,333			4,557,955			953,084			127,396
Mortality and expense risk charges (note 2)		(905,970	)		(14,187,010	)		(3,201,960	)		(2,703	)		(4,848,542	)		(3,235,811	)		(637,383	)		(45,623	)

Net investment income (loss)		652,509			2,053,607			(2,517,354	)		2,643			941,791			1,322,144			315,701			81,773

Realized gain (loss) on investments		430,012			12,081,232			2,133,125			1,706			2,013,366			2,095,669			(3,464,687	)		(102,225	)
Change in unrealized gain (loss) on investments		5,587,073			133,729,781			56,040,713			123,789			15,100,495			10,959,070			6,565,547			17,730

Net gain (loss) on investments		6,017,085			145,811,013			58,173,838			125,495			17,113,861			13,054,739			3,100,860			(84,495	)

Reinvested capital gains		760,809			38,145,546			9,288,722			-			9,936,157			6,841,690			-			252,736

Net increase (decrease) in contract owners’ equity resulting from operations	$	7,430,403			186,010,166			64,945,206			128,138			27,991,809			21,218,573			3,416,561			250,014

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	FF10S2			FF20S			FF20S2			FF30S			FF30S2			FG2			FGI2			FGP
Reinvested dividends	$	8,081,943			180,174			8,684,583			340,715			1,814,894			25,866			12,180,152			582,240
Mortality and expense risk charges (note 2)		(3,184,219	)		(74,634	)		(4,284,505	)		(185,425	)		(1,250,320	)		(9,892,670	)		(10,885,459	)		(5,993,239	)

Net investment income (loss)		4,897,724			105,540			4,400,078			155,290			564,574			(9,866,804	)		1,294,693			(5,410,999	)

Realized gain (loss) on investments		(5,074,926	)		(19,406	)		3,588,709			(35,507	)		678,639			18,652,171			11,747,883			30,790,141
Change in unrealized gain (loss) on investments		309,636			479,702			19,558,845			1,634,847			8,529,488			157,041,592			82,530,563			87,790,340

Net gain (loss) on investments		(4,765,290	)		460,296			23,147,554			1,599,340			9,208,127			175,693,763			94,278,446			118,580,481

Reinvested capital gains		15,845,346			39,375			2,136,776			-			-			33,319,473			31,925,261			21,031,757

Net increase (decrease) in contract owners’ equity resulting from operations	$	15,977,780			605,211			29,684,408			1,754,630			9,772,701			199,146,432			127,498,400			134,201,239


*Investment Activity:**	FHIP			FIGBP2			FIGBS			FMC2			FMCS			FNRS2			FO2			FOP
Reinvested dividends	$	1,341,412			26,895,069			284,787			652,622			75,207			2,664,046			830,933			425,207
Mortality and expense risk charges (note 2)		(324,926	)		(14,224,710	)		(142,481	)		(2,667,062	)		(194,847	)		(1,674,676	)		(1,643,106	)		(554,960	)

Net investment income (loss)		1,016,486			12,670,359			142,306			(2,014,440	)		(119,640	)		989,370			(812,173	)		(129,753	)

Realized gain (loss) on investments		(334,058	)		(9,532,747	)		(65,040	)		2,759,705			(84,195	)		19,271,089			6,640,597			820,175
Change in unrealized gain (loss) on investments		1,405,947			44,049,252			439,031			16,006,546			1,672,916			(23,108,237	)		12,652,208			6,461,378

Net gain (loss) on investments		1,071,889			34,516,505			373,991			18,766,251			1,588,721			(3,837,148	)		19,292,805			7,281,553

Reinvested capital gains		-			-			-			4,901,092			408,359			-			278,405			107,543

Net increase (decrease) in contract owners’ equity resulting from operations	$	2,088,375			47,186,864			516,297			21,652,903			1,877,440			(2,847,778	)		18,759,037			7,259,343

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	FRESS2			FV2			FVFRHI			FVICA2			FVSIS2			FVSS			FVSS2			FTVDM2
Reinvested dividends	$	308,550			12,862			913,019			2,608			108,177			55,670			211,355			115,918
Mortality and expense risk charges (note 2)		(175,366	)		(3,022	)		(74,124	)		(4,659	)		(7,048	)		(62,480	)		(273,140	)		(80,114	)

Net investment income (loss)		133,184			9,840			838,895			(2,051	)		101,129			(6,810	)		(61,785	)		35,804

Realized gain (loss) on investments		(412,204	)		1,854			59,407			(232	)		33			(61,227	)		(294,385	)		(77,096	)
Change in unrealized gain (loss) on investments		971,131			68,668			(382,124	)		204,804			33,898			741,139			2,646,816			615,393

Net gain (loss) on investments		558,927			70,522			(322,717	)		204,572			33,931			679,912			2,352,431			538,297

Reinvested capital gains		549,273			43,547			-			-			-			197,086			868,777			4,205

Net increase (decrease) in contract owners’ equity resulting from operations	$	1,241,384			123,909			516,178			202,521			135,060			870,188			3,159,423			578,306


*Investment Activity:**	FTVFA2			FTVGI2			FTVIS2			FTVMD2			FTVRD2			FTVSI2			FTVSV2			TIF2
Reinvested dividends	$	870,480			-			10,302,285			14,734			107			34,443			294,524			621,943
Mortality and expense risk charges (note 2)		(975,268	)		(837,660	)		(3,095,487	)		(2,690	)		(231	)		(3,333	)		(828,279	)		(289,471	)

Net investment income (loss)		(104,788	)		(837,660	)		7,206,798			12,044			(124	)		31,110			(533,755	)		332,472

Realized gain (loss) on investments		(5,098,921	)		(3,638,109	)		(1,040,828	)		(5,341	)		(1,016	)		(70,323	)		(3,673,212	)		(881,979	)
Change in unrealized gain (loss) on investments		11,366,573			5,008,144			(5,950,062	)		70,234			1,011			74,710			6,994,082			4,029,219

Net gain (loss) on investments		6,267,652			1,370,035			(6,990,890	)		64,893			(5	)		4,387			3,320,870			3,147,240

Reinvested capital gains		1,010,425			-			12,489,665			32,065			1,223			-			3,192,937			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	7,173,289			532,375			12,705,573			109,002			1,094			35,497			5,980,052			3,479,712

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	GVGMNS			GVMSAS			GVSSCS			RSRF			RVARS			ACEG2			AVHY2			IVBRA1
Reinvested dividends	$	134,898			447,945			3,993			151			433,238			-			6,754			-
Mortality and expense risk charges (note 2)		(126,131	)		(98,251	)		(2,186	)		(282	)		(268,469	)		(5,078	)		(468	)		(666	)

Net investment income (loss)		8,767			349,694			1,807			(131	)		164,769			(5,078	)		6,286			(666	)

Realized gain (loss) on investments		(64,202	)		(86,205	)		351			(188	)		67,822			(16,332	)		13			(384	)
Change in unrealized gain (loss) on investments		1,073,729			184,438			82,361			6,544			151,260			95,064			1,704			11,222

Net gain (loss) on investments		1,009,527			98,233			82,712			6,356			219,082			78,732			1,717			10,838

Reinvested capital gains		-			-			-			-			-			5,728			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	1,018,294			447,927			84,519			6,225			383,851			79,382			8,003			10,172


*Investment Activity:**	IVCPB2			IVCPBI			IVDDII			IVMCC2			OVAG			OVAG2			OVGIS			OVGS
Reinvested dividends	$	81,637			288,021			30,123			4,001			-			-			72			240,221
Mortality and expense risk charges (note 2)		(13,050	)		(152,724	)		(6,688	)		(168,945	)		(117,219	)		(165,278	)		(292	)		(1,412,470	)

Net investment income (loss)		68,587			135,297			23,435			(164,944	)		(117,219	)		(165,278	)		(220	)		(1,172,249	)

Realized gain (loss) on investments		(2,032	)		(75,001	)		51			(710,550	)		(475,793	)		(551,158	)		(8,133	)		(1,970,880	)
Change in unrealized gain (loss) on investments		97,120			447,437			(19,747	)		2,074,828			1,580,575			1,965,850			11,325			21,132,727

Net gain (loss) on investments		95,088			372,436			(19,696	)		1,364,278			1,104,782			1,414,692			3,192			19,161,847

Reinvested capital gains		-			-			143,078			-			-			-			1,032			12,147,923

Net increase (decrease) in contract owners’ equity resulting from operations	$	163,675			507,733			146,817			1,199,334			987,563			1,249,414			4,004			30,137,521

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	OVGSS			OVIG			OVIGS			OVMS			OVSB			OVSBS			OVSC			OVSCS
Reinvested dividends	$	-			7,746			2,957			335,337			-			-			52,754			1,067,021
Mortality and expense risk charges (note 2)		(1,622,985	)		(6,246	)		(13,761	)		(241,021	)		(15,494	)		(47,720	)		(60,773	)		(1,674,751	)

Net investment income (loss)		(1,622,985	)		1,500			(10,804	)		94,316			(15,494	)		(47,720	)		(8,019	)		(607,730	)

Realized gain (loss) on investments		(312,983	)		(78,767	)		(224,133	)		155,324			4,763			5,359			(50,410	)		(348,403	)
Change in unrealized gain (loss) on investments		19,501,636			340,207			407,070			1,650,800			91,146			264,833			767,694			17,119,277

Net gain (loss) on investments		19,188,653			261,440			182,937			1,806,124			95,909			270,192			717,284			16,770,874

Reinvested capital gains		12,949,579			-			-			-			-			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	30,515,247			262,940			172,133			1,900,440			80,415			222,472			709,265			16,163,144


*Investment Activity:**	WRASP			WRENG			WRHIP			WRMCG			WRPAP			WRPCP			WRPMAP			WRPMAV
Reinvested dividends	$	2,045,843			3,863			2,870,976			-			726			94,644			1,759,488			216,188
Mortality and expense risk charges (note 2)		(1,721,341	)		(1,324	)		(758,169	)		(2,831,991	)		(71	)		(7,966	)		(116,310	)		(16,853	)

Net investment income (loss)		324,502			2,539			2,112,807			(2,831,991	)		655			86,678			1,643,178			199,335

Realized gain (loss) on investments		(2,598,938	)		84,967			(2,545,207	)		(3,009,744	)		(162	)		(128,196	)		(2,984,238	)		(464,070	)
Change in unrealized gain (loss) on investments		13,709,579			(78,626	)		4,778,046			15,663,316			(536	)		47,170			1,167,136			52,232

Net gain (loss) on investments		11,110,641			6,341			2,232,839			12,653,572			(698	)		(81,026	)		(1,817,102	)		(411,838	)

Reinvested capital gains		-			-			-			23,001,796			1,914			222,542			4,352,067			692,440

Net increase (decrease) in contract owners’ equity resulting from operations	$	11,435,143			8,880			4,345,646			32,823,377			1,871			228,194			4,178,143			479,937

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	WRPMCP			WRPMP			JABS			JACAS			JAFBS			JAGSEI			JAGTS			JAIGS
Reinvested dividends	$	182,795			883,763			1,567,565			131,626			4,119,655			2,423			-			404,280
Mortality and expense risk charges (note 2)		(15,100	)		(63,806	)		(1,115,359	)		(1,571,743	)		(1,518,094	)		(3,254	)		(4,016,557	)		(416,108	)

Net investment income (loss)		167,695			819,957			452,206			(1,440,117	)		2,601,561			(831	)		(4,016,557	)		(11,828	)

Realized gain (loss) on investments		(106,837	)		(654,795	)		(1,103,294	)		1,638,203			(1,104,795	)		(6,886	)		1,716,146			1,370,994
Change in unrealized gain (loss) on investments		(36,170	)		(126,209	)		11,032,036			34,464,360			2,741,566			47,610			111,616,066			1,122,034

Net gain (loss) on investments		(143,007	)		(781,004	)		9,928,742			36,102,563			1,636,771			40,724			113,332,212			2,493,028

Reinvested capital gains		445,883			2,143,124			-			-			-			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	470,571			2,182,077			10,380,948			34,662,446			4,238,332			39,893			109,315,655			2,481,200


*Investment Activity:**	JAMGS			LZREMS			LDVS			LJPCBS			LJPMVS			LOVSDC			LOVTRC			MNCPS2
Reinvested dividends	$	2,041			68,203			13,272			1,048,023			161,645			104,119			4,994,302			7,042
Mortality and expense risk charges (note 2)		(12,177	)		(10,714	)		(6,211	)		(495,954	)		(78,154	)		(14,526	)		(1,350,594	)		(3,388	)

Net investment income (loss)		(10,136	)		57,489			7,061			552,069			83,491			89,593			3,643,708			3,654

Realized gain (loss) on investments		(8,305	)		(2,832	)		(111,742	)		(88,005	)		19,709			(22,933	)		(577,099	)		(9,033	)
Change in unrealized gain (loss) on investments		198,989			231,270			63,334			344,371			752,944			13,324			2,209,627			33,640

Net gain (loss) on investments		190,684			228,438			(48,408	)		256,366			772,653			(9,609	)		1,632,528			24,607

Reinvested capital gains		172,393			-			54,044			-			-			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	352,941			285,927			12,697			808,435			856,144			79,984			5,276,236			28,261

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	M2IGSS			M3GRES			MEGSS			MMCGSC			MNDSC			MV2RIS			MV3LMS			MV3MVS
Reinvested dividends	$	2,734			999			-			-			-			197,094			15,631			649,945
Mortality and expense risk charges (note 2)		(84,369	)		(2,725	)		(13,101	)		(41,309	)		(1,196,214	)		(296,261	)		(10,492	)		(559,218	)

Net investment income (loss)		(81,635	)		(1,726	)		(13,101	)		(41,309	)		(1,196,214	)		(99,167	)		5,139			90,727

Realized gain (loss) on investments		(110,289	)		(11,719	)		676			(42,470	)		(4,349,304	)		(56,601	)		(261	)		(611,259	)
Change in unrealized gain (loss) on investments		1,010,954			25,429			242,078			850,370			15,793,082			2,521,541			57,733			3,776,595

Net gain (loss) on investments		900,665			13,710			242,754			807,900			11,443,778			2,464,940			57,472			3,165,336

Reinvested capital gains		295,558			12,714			156,843			76,362			-			-			-			1,445,309

Net increase (decrease) in contract owners’ equity resulting from operations	$	1,114,588			24,698			386,496			842,953			10,247,564			2,365,773			62,611			4,701,372


*Investment Activity:**	MVBDS			MVBRES			MVFSC			MVIGSC			MVIPSC			MVIVSC			MVRBSS			MVUSC
Reinvested dividends	$	69,692			7,690			4,972,831			432,647			35,075			1,253,862			57,947			11,280
Mortality and expense risk charges (note 2)		(11,463	)		(6,916	)		(5,209,597	)		(628,892	)		(6,361	)		(3,972,361	)		(19,930	)		(1,742	)

Net investment income (loss)		58,229			774			(236,766	)		(196,245	)		28,714			(2,718,499	)		38,017			9,538

Realized gain (loss) on investments		(103	)		(17,954	)		(3,855,866	)		(215,134	)		(5,985	)		(2,237,448	)		(23,402	)		(18,800	)
Change in unrealized gain (loss) on investments		145,092			136,106			(229,624	)		4,347,232			78,511			24,178,972			90,244			(20,034	)

Net gain (loss) on investments		144,989			118,152			(4,085,490	)		4,132,098			72,526			21,941,524			66,842			(38,834	)

Reinvested capital gains		-			57,075			24,926,555			1,517,741			-			20,073,420			-			18,920

Net increase (decrease) in contract owners’ equity resulting from operations	$	203,218			176,001			20,604,299			5,453,594			101,240			39,296,445			104,859			(10,376	)

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	MGRFV			MSEM			MSEMB			MSGI2			MSVEG2			MSVRE			MSVREB			VKVGR2
Reinvested dividends	$	-			59,137			36,250			429,392			-			167			10			3,849
Mortality and expense risk charges (note 2)		(142	)		(9,172	)		(3,612	)		(276,619	)		(498,251	)		(146	)		(5	)		(2,261	)

Net investment income (loss)		(142	)		49,965			32,638			152,773			(498,251	)		21			5			1,588

Realized gain (loss) on investments		853			(54,928	)		(73,612	)		(254,429	)		1,790,462			(1,281	)		(67	)		(3,600	)
Change in unrealized gain (loss) on investments		34			70,546			77,145			(2,073,414	)		11,833,315			2,120			117			20,575

Net gain (loss) on investments		887			15,618			3,533			(2,327,843	)		13,623,777			839			50			16,975

Reinvested capital gains		-			-			-			2,667,253			-			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	745			65,583			36,171			492,183			13,125,526			860			55			18,563


*Investment Activity:**	DTRTFB			EIF			EIF2			GBF			GBF2			GEM			GEM2			GIG
Reinvested dividends	$	881,414			89,612			6,984,764			3,333,838			6,038			83,232			1,023,993			305,805
Mortality and expense risk charges (note 2)		(347,257	)		(23,543	)		(5,809,961	)		(1,860,220	)		(2,688	)		(62,243	)		(1,068,564	)		(143,983	)

Net investment income (loss)		534,157			66,069			1,174,803			1,473,618			3,350			20,989			(44,571	)		161,822

Realized gain (loss) on investments		(715,448	)		86,749			4,133,847			(3,793,107	)		(4,865	)		(61,863	)		(487,687	)		(143,887	)
Change in unrealized gain (loss) on investments		1,218,712			(6,757	)		1,875,405			6,047,208			12,197			186,551			2,019,728			2,082,614

Net gain (loss) on investments		503,264			79,992			6,009,252			2,254,101			7,332			124,688			1,532,041			1,938,727

Reinvested capital gains		-			391,633			34,848,364			-			-			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	1,037,421			537,694			42,032,419			3,727,719			10,682			145,677			1,487,470			2,100,549

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	GVAAA2			GVABD2			GVAGG2			GVAGI2			GVAGR2			GVDMA			GVDMC			GVEX1
Reinvested dividends	$	-			-			-			-			-			-			-			16,773
Mortality and expense risk charges (note 2)		(85,183,407	)		(45,200,096	)		(5,969,979	)		(51,287,147	)		(17,488,349	)		(7,911,364	)		(6,976,059	)		(9,629	)

Net investment income (loss)		(85,183,407	)		(45,200,096	)		(5,969,979	)		(51,287,147	)		(17,488,349	)		(7,911,364	)		(6,976,059	)		7,144

Realized gain (loss) on investments		208,365,647			(27,444,861	)		3,517,952			47,550,971			29,097,595			(20,201,096	)		(21,010,443	)		(220,260	)
Change in unrealized gain (loss) on investments		(53,032,439	)		171,874,083			38,099,462			465,344,542			224,330,340			103,976,835			71,922,333			478,355

Net gain (loss) on investments		155,333,208			144,429,222			41,617,414			512,895,513			253,427,935			83,775,739			50,911,890			258,095

Reinvested capital gains		609,421,905			-			41,488,331			329,461,438			142,410,563			5,786,699			-			1,509

Net increase (decrease) in contract owners’ equity resulting from operations	$	679,571,706			99,229,126			77,135,766			791,069,804			378,350,149			81,651,074			43,935,831			266,748


*Investment Activity:**	GVEX2			GVIDA			GVIDC			GVIDM			GVIX2			GVIX8			HIBF			IDPG2
Reinvested dividends	$	21,236,298			-			-			-			160,320			3,179,824			2,385,397			-
Mortality and expense risk charges (note 2)		(27,218,254	)		(2,885,695	)		(6,240,356	)		(21,930,906	)		(50,597	)		(2,042,214	)		(628,617	)		(13,343,844	)

Net investment income (loss)		(5,981,956	)		(2,885,695	)		(6,240,356	)		(21,930,906	)		109,723			1,137,610			1,756,780			(13,343,844	)

Realized gain (loss) on investments		(98,825,123	)		(6,588,709	)		(11,305,909	)		(70,579,105	)		130,755			1,362,954			(1,131,546	)		(14,549,416	)
Change in unrealized gain (loss) on investments		498,141,596			38,470,996			44,019,277			274,558,259			775,275			17,883,857			3,759,385			130,422,239

Net gain (loss) on investments		399,316,473			31,882,287			32,713,368			203,979,154			906,030			19,246,811			2,627,839			115,872,823

Reinvested capital gains		2,371,855			2,187,841			-			-			-			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	395,706,372			31,184,433			26,473,012			182,048,248			1,015,753			20,384,421			4,384,619			102,528,979

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	IDPGI2			MCIF			MCIF2			MSBF			NAMAA2			NAMGI2			NCPG2			NCPGI2
Reinvested dividends	$	-			4,713,235			39,515			10,306,205			-			-			-			-
Mortality and expense risk charges (note 2)		(5,528,406	)		(5,373,182	)		(41,598	)		(2,655,906	)		(33,285,345	)		(8,887,822	)		(15,730,090	)		(6,806,156	)

Net investment income (loss)		(5,528,406	)		(659,947	)		(2,083	)		7,650,299			(33,285,345	)		(8,887,822	)		(15,730,090	)		(6,806,156	)

Realized gain (loss) on investments		(4,908,988	)		(12,335,920	)		(28,000	)		(2,988,554	)		(19,955,905	)		21,200,603			3,376,280			(217,016	)
Change in unrealized gain (loss) on investments		49,938,961			44,258,387			336,937			(2,024,079	)		207,997,587			79,119,210			108,427,209			56,771,502

Net gain (loss) on investments		45,029,973			31,922,467			308,937			(5,012,633	)		188,041,682			100,319,813			111,803,489			56,554,486

Reinvested capital gains		-			19,671,977			184,563			9,867,656			197,806,916			46,769,497			18,645,012			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	39,501,567			50,934,497			491,417			12,505,322			352,563,253			138,201,488			114,718,411			49,748,330


*Investment Activity:**	NJMMA2			NJNDE2			NVAMV1			NVAMV2			NVAMVX			NVAMVZ			NVBX			NVCBD1
Reinvested dividends	$	749,379			477,799			551,896			997,040			97,967			2,555,102			22,700			82,231
Mortality and expense risk charges (note 2)		(431,627	)		(856,064	)		(424,829	)		(978,089	)		(68,433	)		(2,461,523	)		(3,819	)		(35,264	)

Net investment income (loss)		317,752			(378,265	)		127,067			18,951			29,534			93,579			18,881			46,967

Realized gain (loss) on investments		(554,853	)		1,148,142			378,704			1,404,435			355,737			9,361,439			(227	)		(186,738	)
Change in unrealized gain (loss) on investments		2,504,537			14,361,354			(1,401	)		(676,532	)		(352,684	)		(7,684,535	)		19,163			245,248

Net gain (loss) on investments		1,949,684			15,509,496			377,303			727,903			3,053			1,676,904			18,936			58,510

Reinvested capital gains		-			-			1,774,658			3,621,521			292,116			9,244,470			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	2,267,436			15,131,231			2,279,028			4,368,375			324,703			11,014,953			37,817			105,477

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	NVCBD2			NVCCA2			NVCCN2			NVCMA2			NVCMC2			NVCMD2			NVCRA2			NVCRB2
Reinvested dividends	$	2,747,022			-			-			-			-			-			-			-
Mortality and expense risk charges (note 2)		(1,432,672	)		(27,263,060	)		(7,393,731	)		(4,474,441	)		(7,433,568	)		(26,659,270	)		(1,743,760	)		(22,251,679	)

Net investment income (loss)		1,314,350			(27,263,060	)		(7,393,731	)		(4,474,441	)		(7,433,568	)		(26,659,270	)		(1,743,760	)		(22,251,679	)

Realized gain (loss) on investments		(2,508,895	)		(13,123,292	)		(1,538,140	)		(4,989,910	)		(5,096,912	)		(4,968,475	)		2,573,592			(355,362	)
Change in unrealized gain (loss) on investments		4,404,432			156,828,450			34,409,819			35,111,102			36,290,633			142,155,617			11,003,899			117,435,475

Net gain (loss) on investments		1,895,537			143,705,158			32,871,679			30,121,192			31,193,721			137,187,142			13,577,491			117,080,113

Reinvested capital gains		-			133,907,987			10,291,081			19,054,395			25,161,210			116,461,866			7,159,955			76,587,487

Net increase (decrease) in contract owners’ equity resulting from operations	$	3,209,887			250,350,085			35,769,029			44,701,146			48,921,363			226,989,738			18,993,686			171,415,921


*Investment Activity:**	NVDBL2			NVDCA2			NVFIII			NVGEII			NVIE6			NVLCP2			NVLCPP			NVMGA2
Reinvested dividends	$	-			-			1,068,120			764,950			909,678			25,310			13,453,117			-
Mortality and expense risk charges (note 2)		(16,400,161	)		(15,324,429	)		(492,226	)		(649,912	)		(531,566	)		(7,208	)		(5,522,311	)		(4,534,404	)

Net investment income (loss)		(16,400,161	)		(15,324,429	)		575,894			115,038			378,112			18,102			7,930,806			(4,534,404	)

Realized gain (loss) on investments		(27,752,419	)		(38,123,980	)		(483,423	)		747,715			200,593			(1,115	)		(7,213,012	)		4,639,774
Change in unrealized gain (loss) on investments		168,805,662			195,826,658			1,407,042			7,964,002			5,716,044			23,873			20,702,678			32,540,875

Net gain (loss) on investments		141,053,243			157,702,678			923,619			8,711,717			5,916,637			22,758			13,489,666			37,180,649

Reinvested capital gains		-			1,001,364			-			-			-			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	124,653,082			143,379,613			1,499,513			8,826,755			6,294,749			40,860			21,420,472			32,646,245

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	NVMIG1			NVMIG6			NVMIVX			NVMIVZ			NVMLG1			NVMLG2			NVMM2			NVMMG1
Reinvested dividends	$	311,642			1,984,653			50,159			3,642,655			754,116			9,513,530			97,954			-
Mortality and expense risk charges (note 2)		(220,330	)		(2,137,579	)		(24,826	)		(2,341,724	)		(173,955	)		(2,480,799	)		(23,756	)		(1,719,669	)

Net investment income (loss)		91,312			(152,926	)		25,333			1,300,931			580,161			7,032,731			74,198			(1,719,669	)

Realized gain (loss) on investments		(1,171,670	)		(13,435,054	)		65,282			233,448			(609,090	)		(1,287,380	)		-			(11,824,776	)
Change in unrealized gain (loss) on investments		3,288,253			33,291,077			154,684			18,620,303			3,063,665			33,401,759			-			36,155,980

Net gain (loss) on investments		2,116,583			19,856,023			219,966			18,853,751			2,454,575			32,114,379			-			24,331,204

Reinvested capital gains		-			-			-			-			728,316			9,188,054			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	2,207,895			19,703,097			245,299			20,154,682			3,763,052			48,335,164			74,198			22,611,535


*Investment Activity:**	NVMMG2			NVMMV1			NVMMV2			NVNMO1			NVNMO2			NVNSR1			NVNSR2			NVOLG1
Reinvested dividends	$	-			8,243			3,011,624			348,342			172,243			5,113			248,655			5,653,103
Mortality and expense risk charges (note 2)		(1,428,350	)		(2,657	)		(2,861,561	)		(910,369	)		(616,225	)		(20,906	)		(1,277,518	)		(5,299,128	)

Net investment income (loss)		(1,428,350	)		5,586			150,063			(562,027	)		(443,982	)		(15,793	)		(1,028,863	)		353,975

Realized gain (loss) on investments		(17,210,061	)		(72,301	)		(6,406,459	)		920,274			323,431			(39,973	)		(1,391,509	)		1,946,137
Change in unrealized gain (loss) on investments		35,738,506			35,139			(9,497,351	)		8,229,532			5,345,368			146,125			7,508,722			78,307,539

Net gain (loss) on investments		18,528,445			(37,162	)		(15,903,810	)		9,149,806			5,668,799			106,152			6,117,213			80,253,676

Reinvested capital gains		-			78,999			29,694,770			5,039,932			3,076,008			188,257			9,883,188			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	17,100,095			47,423			13,941,023			13,627,711			8,300,825			278,616			14,971,538			80,607,651

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	NVOLG2			NVRE1			NVRE2			NVSIX2			NVSTB2			NVTIV3			SAM			SCF
Reinvested dividends	$	5,987,486			719,495			1,390,567			2,235,651			5,755,689			532,496			37,821,203			269,633
Mortality and expense risk charges (note 2)		(7,600,660	)		(429,571	)		(1,050,137	)		(2,754,865	)		(2,444,903	)		(338,282	)		(11,811,985	)		(720,674	)

Net investment income (loss)		(1,613,174	)		289,924			340,430			(519,214	)		3,310,786			194,214			26,009,218			(451,041	)

Realized gain (loss) on investments		10,034,022			(562,765	)		381,178			(19,074,635	)		(2,341,033	)		1,119,011			-			(1,483,204	)
Change in unrealized gain (loss) on investments		93,522,813			2,928,056			4,867,105			45,948,664			5,825,053			1,565,812			-			8,054,311

Net gain (loss) on investments		103,556,835			2,365,291			5,248,283			26,874,029			3,484,020			2,684,823			-			6,571,107

Reinvested capital gains		-			733,161			1,536,414			1,178,703			-			-			81			313,158

Net increase (decrease) in contract owners’ equity resulting from operations	$	101,943,661			3,388,376			7,125,127			27,533,518			6,794,806			2,879,037			26,009,299			6,433,224


*Investment Activity:**	SCF2			SCGF			SCGF2			SCVF			SCVF2			TRF			TRF2			AMCG
Reinvested dividends	$	213,307			-			-			86,924			93,213			1,479,522			1,095,169			-
Mortality and expense risk charges (note 2)		(870,675	)		(60,573	)		(722,161	)		(275,563	)		(664,342	)		(1,486,179	)		(1,463,085	)		(54	)

Net investment income (loss)		(657,368	)		(60,573	)		(722,161	)		(188,639	)		(571,129	)		(6,657	)		(367,916	)		(54	)

Realized gain (loss) on investments		(1,743,294	)		(282,179	)		(2,346,839	)		(1,428,347	)		(479,419	)		7,203,487			4,409,507			(331	)
Change in unrealized gain (loss) on investments		9,426,421			1,026,242			10,432,760			3,743,496			5,357,272			(10,723,599	)		(7,729,216	)		1,120

Net gain (loss) on investments		7,683,127			744,063			8,085,921			2,315,149			4,877,853			(3,520,112	)		(3,319,709	)		789

Reinvested capital gains		400,305			-			-			1,002,476			2,289,365			10,933,801			9,961,669			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	7,426,064			683,490			7,363,760			3,128,986			6,596,089			7,407,032			6,274,044			735

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	AMINS			AMMCGS			AMSRS			AMTB			NOTB4			NOTG4			NOTMG4			PMUBA
Reinvested dividends	$	44			-			43,147			1,894,559			-			4,142			6,361			2,653
Mortality and expense risk charges (note 2)		(1,592	)		(35,122	)		(172,091	)		(625,384	)		(76,288	)		(61,938	)		(79,434	)		(374	)

Net investment income (loss)		(1,548	)		(35,122	)		(128,944	)		1,269,175			(76,288	)		(57,796	)		(73,073	)		2,279

Realized gain (loss) on investments		(5,774	)		(136,247	)		345,458			(724,201	)		(2,524,758	)		(692,561	)		(3,716,492	)		(789	)
Change in unrealized gain (loss) on investments		17,482			512,196			2,483,903			1,279,927			2,862,047			1,017,816			4,106,311			3,118

Net gain (loss) on investments		11,708			375,949			2,829,361			555,726			337,289			325,255			389,819			2,329

Reinvested capital gains		-			-			203,605			-			20,032			4,773			13,255			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	10,160			340,827			2,904,022			1,824,901			281,033			272,232			330,001			4,608


*Investment Activity:**	PMVAAD			PMVEBD			PMVFAD			PMVFHA			PMVFHV			PMVHYD			PMVIV			PMVLAD
Reinvested dividends	$	988,401			673,780			300,010			4,031			30			21,977			379,621			11,641,973
Mortality and expense risk charges (note 2)		(555,356	)		(182,047	)		(187,311	)		(640	)		(11	)		(1,873	)		(77,901	)		(4,805,757	)

Net investment income (loss)		433,045			491,733			112,699			3,391			19			20,104			301,720			6,836,216

Realized gain (loss) on investments		(729,459	)		(543,801	)		(738,199	)		(467	)		(1	)		(5,147	)		(36,705	)		(4,442,271	)
Change in unrealized gain (loss) on investments		2,445,813			1,120,422			1,149,427			5,757			42			28,184			363,870			8,338,325

Net gain (loss) on investments		1,716,354			576,621			411,228			5,290			41			23,037			327,165			3,896,054

Reinvested capital gains		-			-			-			4,199			32			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	2,149,399			1,068,354			523,927			12,880			92			43,141			628,885			10,732,270

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	PMVRA			PMVRSD			PMVSTA			PMVTRD			PVEIB			PVGOB			PVIGIB			PVNOB
Reinvested dividends	$	48,467			191,702			4,607,249			6,135			2,216,095			-			280,480			-
Mortality and expense risk charges (note 2)		(6,683	)		(11,079	)		(1,435,431	)		(2,615	)		(1,523,988	)		(54,317	)		(259,720	)		(6,618	)

Net investment income (loss)		41,784			180,623			3,171,818			3,520			692,107			(54,317	)		20,760			(6,618	)

Realized gain (loss) on investments		(60,105	)		(59,507	)		(304,513	)		(1,686	)		(473,835	)		(38,094	)		(249,736	)		3,424
Change in unrealized gain (loss) on investments		70,261			(233,014	)		1,636,126			8,200			9,008,523			1,320,044			3,046,594			176,477

Net gain (loss) on investments		10,156			(292,521	)		1,331,613			6,514			8,534,688			1,281,950			2,796,858			179,901

Reinvested capital gains		-			-			-			-			6,212,076			47,922			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	51,940			(111,898	)		4,503,431			10,034			15,438,871			1,275,555			2,817,618			173,283


*Investment Activity:**	PVTIGB			ROCSC			TRHS2			TRMCG2			VVGGS			VWBF			VWEM			VWHA
Reinvested dividends	$	8,702			497			-			-			-			170,523			254,121			285,797
Mortality and expense risk charges (note 2)		(367,713	)		(381	)		(4,477,684	)		(25,059	)		(2,459	)		(54,587	)		(95,759	)		(138,819	)

Net investment income (loss)		(359,011	)		116			(4,477,684	)		(25,059	)		(2,459	)		115,936			158,362			146,978

Realized gain (loss) on investments		(348,439	)		4,995			5,931,439			(163,588	)		(65,631	)		(193,664	)		(338,951	)		(109,459	)
Change in unrealized gain (loss) on investments		4,619,872			6,695			(9,689,701	)		177,805			104,853			476,792			809,163			(578,797	)

Net gain (loss) on investments		4,271,433			11,690			(3,758,262	)		14,217			39,222			283,128			470,212			(688,256	)

Reinvested capital gains		-			5,158			11,018,007			451,576			-			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations	$	3,912,422			16,964			2,782,061			440,734			36,763			399,064			628,574			(541,278	)

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023


*Investment Activity:**	VWHAS			VRVDRA
Reinvested dividends	$	1,111,101			351,252
Mortality and expense risk charges (note 2)		(752,688	)		(221,169	)

Net investment income (loss)		358,413			130,083

Realized gain (loss) on investments		(5,419,636	)		(529,663	)
Change in unrealized gain (loss) on investments		1,693,061			1,697,432

Net gain (loss) on investments		(3,726,575	)		1,167,769

Reinvested capital gains		-			169,851

Net increase (decrease) in contract owners’ equity resulting from operations	$	(3,368,162	)		1,467,703

*	For all subaccounts not included herein but listed as an investment option in note 1(b), there was no activity during the period. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2023, if applicable.

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	ALVBWB						ALVDAA						ALVGIB						ALVIVB
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	794			6,101			144			1,168			(8,589	)		(17,045	)		(57,624	)		52,811
Realized gain (loss) on investments		(14,008	)		(2,160	)		(164	)		847			(3	)		33,520			135,101			(33,913	)
Change in unrealized gain (loss) on investments		24,730			(78,203	)		6,373			(29,225	)		91,186			(860,469	)		382,664			(402,486	)
Reinvested capital gains		8,578			22,839			-			16,055			328,787			640,589			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		20,094			(51,423	)		6,353			(11,155	)		411,381			(203,405	)		460,141			(383,588	)

Equity transactions:
Purchase payments received from contract owners (note 4)		76			-			-			-			853			1,699			74,751			16,832
Transfers between funds		1,878			880			1,751			1,568			(313,908	)		350,699			268,849			(452,186	)
Redemptions (notes 2, 3, and 4)		(52,049	)		(13,032	)		-			(5,219	)		(138,444	)		(235,148	)		(499,540	)		(47,079	)
Adjustments to maintain reserves		3			(24	)		3			(40	)		30			82			(106	)		493

Net equity transactions		(50,092	)		(12,176	)		1,754			(3,691	)		(451,469	)		117,332			(156,046	)		(481,940	)

Net change in contract owners’ equity		(29,998	)		(63,599	)		8,107			(14,846	)		(40,088	)		(86,073	)		304,095			(865,528	)
Contract owners’ equity at beginning of period		204,766			268,365			47,564			62,410			4,312,288			4,398,361			1,940,486			2,806,014

Contract owners’ equity at end of period	$	174,768			204,766			55,671			47,564			4,272,200			4,312,288			2,244,581			1,940,486

CHANGE IN UNITS:
Beginning units		12,242			12,916			3,848			4,093			105,433			100,102			235,563			290,594
Units purchased		116			57			146			143			496			13,457			1,320,897			61,551
Units redeemed		(3,046	)		(731	)		(9	)		(388	)		(11,648	)		(8,126	)		(1,315,433	)		(116,582	)

Ending units		9,312			12,242			3,985			3,848			94,281			105,433			241,027			235,563

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	ALVSVA						ALVSVB						ALMGI2						SVDF
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	2,500			3,203			(704,721	)		(780,059	)		(2,943	)		(1,697	)		(381	)		(457	)
Realized gain (loss) on investments		10,411			(14,859	)		(1,967,373	)		728,609			(3,538	)		(6,974	)		(1,147	)		(643	)
Change in unrealized gain (loss) on investments		(6,303	)		(162,282	)		8,728,778			(38,796,600	)		56,125			(36,083	)		5,445			(34,149	)
Reinvested capital gains		32,541			72,980			8,932,762			16,634,400			-			8,465			-			9,703

Net increase (decrease) in contract owners’ equity resulting from operations		39,149			(100,958	)		14,989,446			(22,213,650	)		49,644			(36,289	)		3,917			(25,546	)

Equity transactions:
Purchase payments received from contract owners (note 4)		1,436			(1,130	)		3,967,478			10,490,124			-			-			-			58
Transfers between funds		(132,069	)		(5,047	)		(281,600	)		(14,777,105	)		9,890			272,187			-			-
Redemptions (notes 2, 3, and 4)		(49,377	)		(92,351	)		(9,981,000	)		(9,745,680	)		(8,135	)		(3,521	)		(2,808	)		(3,469	)
Adjustments to maintain reserves		(13	)		(10	)		(9,192	)		7,403			(6	)		(1	)		2,027			(15,233	)

Net equity transactions		(180,023	)		(98,538	)		(6,304,314	)		(14,025,258	)		1,749			268,665			(781	)		(18,644	)

Net change in contract owners’ equity		(140,874	)		(199,496	)		8,685,132			(36,238,908	)		51,393			232,376			3,136			(44,190	)
Contract owners’ equity at beginning of period		399,655			599,151			102,604,007			138,842,915			232,376			-			22,410			66,600

Contract owners’ equity at end of period	$	258,781			399,655			111,289,139			102,604,007			283,769			232,376			25,546			22,410

CHANGE IN UNITS:
Beginning units		19,141			24,079			2,174,091			2,421,295			26,168			-			-			-
Units purchased		625			395			236,905			381,037			6,774			33,631			-			-
Units redeemed		(9,133	)		(5,333	)		(360,266	)		(628,241	)		(6,731	)		(7,463	)		-			-

Ending units		10,633			19,141			2,050,730			2,174,091			26,211			26,168			-			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	SVOF						WFVOG2						WFVSCG						AAEIP3
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(2,511	)		(2,686	)		(157	)		(161	)		(1,697,596	)		(1,820,795	)		3,880			6,043
Realized gain (loss) on investments		(1,610	)		3,438			(2	)		2			(5,363,721	)		(3,177,270	)		(1,386	)		17,881
Change in unrealized gain (loss) on investments		23,703			(104,101	)		2,034			(8,587	)		10,058,622			(74,664,437	)		14,399			(14,254	)
Reinvested capital gains		13,215			38,284			1,186			2,627			-			21,598,535			1,687			-

Net increase (decrease) in contract owners’ equity resulting from operations		32,797			(65,065	)		3,061			(6,119	)		2,997,305			(58,063,967	)		18,580			9,670

Equity transactions:
Purchase payments received from contract owners (note 4)		2			12			-			-			7,623,951			11,004,073			-			-
Transfers between funds		-			-			-			-			3,997,023			7,553,966			(92	)		80,535
Redemptions (notes 2, 3, and 4)		(33,225	)		(34,171	)		(144	)		(186	)		(8,977,131	)		(8,247,461	)		(15,361	)		(11,763	)
Adjustments to maintain reserves		21,414			(50,423	)		16			(32	)		(144	)		(7,736	)		(3	)		4,203

Net equity transactions		(11,809	)		(84,582	)		(128	)		(218	)		2,643,699			10,302,842			(15,456	)		72,975

Net change in contract owners’ equity		20,988			(149,647	)		2,933			(6,337	)		5,641,004			(47,761,125	)		3,124			82,645
Contract owners’ equity at beginning of period		160,268			309,915			9,765			16,102			110,571,005			158,332,130			156,273			73,628

Contract owners’ equity at end of period	$	181,256			160,268			12,698			9,765			116,212,009			110,571,005			159,397			156,273

CHANGE IN UNITS:
Beginning units		-			-			285			291			2,886,784			2,678,036			15,867			8,676
Units purchased		-			-			-			-			515,816			785,381			7			8,786
Units redeemed		-			-			(3	)		(6	)		(456,212	)		(576,633	)		(1,593	)		(1,595	)

Ending units		-			-			282			285			2,946,388			2,886,784			14,281			15,867

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	ARLPE3						ACVB						ACVCA						ACVI
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(517	)		10,362			115,186			(30,689	)		(411	)		(417	)		(2	)		(27	)
Realized gain (loss) on investments		(1,635	)		(13,444	)		(166,519	)		(67,765	)		(432	)		(1,123	)		33			(30	)
Change in unrealized gain (loss) on investments		23,797			(38,025	)		2,754,570			(8,151,812	)		5,452			(13,711	)		654			(2,057	)
Reinvested capital gains		-			8,055			-			3,478,946			40			4,214			-			671

Net increase (decrease) in contract owners’ equity resulting from operations		21,645			(33,052	)		2,703,237			(4,771,320	)		4,649			(11,037	)		685			(1,443	)

Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			151,933			108,252			1			2			-			81
Transfers between funds		(1,339	)		-			(246,398	)		(882,602	)		-			-			-			75
Redemptions (notes 2, 3, and 4)		(3,654	)		-			(2,253,101	)		(1,824,678	)		(2,764	)		(2,872	)		(745	)		(924	)
Adjustments to maintain reserves		(6	)		(1	)		4,344			(5,239	)		1,745			(420	)		884			2,177

Net equity transactions		(4,999	)		(1	)		(2,343,222	)		(2,604,267	)		(1,018	)		(3,290	)		139			1,409

Net change in contract owners’ equity		16,646			(33,053	)		360,015			(7,375,587	)		3,631			(14,327	)		824			(34	)
Contract owners’ equity at beginning of period		79,623			112,676			19,286,968			26,662,555			25,935			40,262			5,891			5,925

Contract owners’ equity at end of period	$	96,269			79,623			19,646,983			19,286,968			29,566			25,935			6,715			5,891

CHANGE IN UNITS:
Beginning units		6,940			6,940			425,531			480,096			-			-			-			-
Units purchased		-			-			8,938			4,454			-			-			-			-
Units redeemed		(386	)		-			(57,133	)		(59,019	)		-			-			-			-

Ending units		6,554			6,940			377,336			425,531			-			-			-			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	ACVIG						ACVIG2						ACVIP1						ACVIP2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	23,882			57,466			(1,405	)		5,894			87,992			142,683			4,113,086			9,132,197
Realized gain (loss) on investments		(656,297	)		(303,103	)		(133,746	)		(77,472	)		(80,850	)		37,237			(3,442,157	)		1,210,473
Change in unrealized gain (loss) on investments		1,426,309			(5,574,689	)		304,774			(1,274,412	)		87,765			(616,121	)		3,467,027			(52,717,197	)
Reinvested capital gains		-			3,564,671			-			821,535			-			13,574			-			1,355,186

Net increase (decrease) in contract owners’ equity resulting from operations		793,894			(2,255,655	)		169,623			(524,455	)		94,907			(422,627	)		4,137,956			(41,019,341	)

Equity transactions:
Purchase payments received from contract owners (note 4)		42,984			109,970			192			5,044			2,100			33,515			8,216,628			29,300,624
Transfers between funds		(483,045	)		(666,419	)		(98,272	)		(79,630	)		(21,011	)		923,812			(10,324,114	)		(20,314,604	)
Redemptions (notes 2, 3, and 4)		(1,283,265	)		(1,254,199	)		(247,905	)		(225,178	)		(693,970	)		(237,638	)		(23,285,948	)		(24,052,323	)
Adjustments to maintain reserves		3			690			(59	)		92			(8	)		129			34,718			312

Net equity transactions		(1,723,323	)		(1,809,958	)		(346,044	)		(299,672	)		(712,889	)		719,818			(25,358,716	)		(15,065,991	)

Net change in contract owners’ equity		(929,429	)		(4,065,613	)		(176,421	)		(824,127	)		(617,982	)		297,191			(21,220,760	)		(56,085,332	)
Contract owners’ equity at beginning of period		12,670,663			16,736,276			3,019,628			3,843,755			3,309,915			3,012,724			232,142,380			288,227,712

Contract owners’ equity at end of period	$	11,741,234			12,670,663			2,843,207			3,019,628			2,691,933			3,309,915			210,921,620			232,142,380

CHANGE IN UNITS:
Beginning units		403,319			458,710			79,396			86,686			316,675			250,449			16,877,998			17,959,497
Units purchased		4,413			5,510			3,258			1,885			21,234			130,559			2,377,863			5,229,151
Units redeemed		(59,325	)		(60,901	)		(12,691	)		(9,175	)		(88,418	)		(64,333	)		(4,214,548	)		(6,310,650	)

Ending units		348,407			403,319			69,963			79,396			249,491			316,675			15,041,313			16,877,998

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	ACVMV1						ACVMV2						ACVV2						AFGC
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	106,996			113,509			1,031,826			947,749			206,675			129,169			8,866			10,910
Realized gain (loss) on investments		(307,055	)		35,400			(1,986,749	)		5,485,978			(3,856,152	)		(3,460,861	)		(7,074	)		(107,278	)
Change in unrealized gain (loss) on investments		(482,787	)		(1,785,776	)		(9,829,001	)		(33,398,335	)		1,972,902			(2,899,307	)		4,047			10,513
Reinvested capital gains		1,105,068			1,372,029			17,498,897			21,865,963			3,380,298			3,808,437			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		422,222			(264,838	)		6,714,973			(5,098,645	)		1,703,723			(2,422,562	)		5,839			(85,855	)

Equity transactions:
Purchase payments received from contract owners (note 4)		88,895			755,728			10,235,313			13,531,361			362,041			5,856,807			-			-
Transfers between funds		(832,977	)		(209,498	)		(10,003,219	)		(9,096,230	)		(19,913,597	)		9,220,255			(37,907	)		-
Redemptions (notes 2, 3, and 4)		(814,195	)		(876,186	)		(14,943,912	)		(14,693,436	)		(3,091,741	)		(3,982,441	)		(30,395	)		(190,509	)
Adjustments to maintain reserves		2,745			(6,768	)		11,028			(25,628	)		(156	)		(6,587	)		277			1,366

Net equity transactions		(1,555,532	)		(336,724	)		(14,700,790	)		(10,283,933	)		(22,643,453	)		11,088,034			(68,025	)		(189,143	)

Net change in contract owners’ equity		(1,133,310	)		(601,562	)		(7,985,817	)		(15,382,578	)		(20,939,730	)		8,665,472			(62,186	)		(274,998	)
Contract owners’ equity at beginning of period		9,924,524			10,526,086			163,212,057			178,594,635			44,679,141			36,013,669			412,927			687,925

Contract owners’ equity at end of period	$	8,791,214			9,924,524			155,226,240			163,212,057			23,739,411			44,679,141			350,741			412,927

CHANGE IN UNITS:
Beginning units		314,763			325,364			4,282,687			4,593,421			1,108,996			885,477			11,683			17,175
Units purchased		25,199			49,309			596,603			1,057,741			113,769			1,434,034			-			-
Units redeemed		(74,952	)		(59,910	)		(983,555	)		(1,368,475	)		(679,665	)		(1,210,515	)		(1,949	)		(5,492	)

Ending units		265,010			314,763			3,895,735			4,282,687			543,100			1,108,996			9,734			11,683

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	AFGF						AFHY						AMVBC4						AMVCB4
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(88,124	)		(97,285	)		10,150			20,868			241,672			143,818			21,673			15,300
Realized gain (loss) on investments		161,091			700,558			(18,185	)		(32,089	)		(294,556	)		(137,431	)		(337	)		(5,712	)
Change in unrealized gain (loss) on investments		3,184,928			(7,739,852	)		29,323			(32,911	)		4,777,544			(1,135,179	)		54,946			(84,423	)
Reinvested capital gains		706,420			1,892,387			-			-			244,176			990,120			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		3,964,315			(5,244,192	)		21,288			(44,132	)		4,968,836			(138,672	)		76,282			(74,835	)

Equity transactions:
Purchase payments received from contract owners (note 4)		14,032			7,720			25			216			17,314,269			7,593,966			-			84,597
Transfers between funds		(97,831	)		(39,180	)		(105,329	)		(4,637	)		8,699,024			6,055,202			293,717			98,470
Redemptions (notes 2, 3, and 4)		(412,200	)		(1,219,161	)		(30,305	)		(71,646	)		(1,389,496	)		(234,788	)		(18,926	)		(6,373	)
Adjustments to maintain reserves		1,732			4,451			1,711			2,626			(215	)		21,500			4			5,172

Net equity transactions		(494,267	)		(1,246,170	)		(133,898	)		(73,441	)		24,623,582			13,435,880			274,795			181,866

Net change in contract owners’ equity		3,470,048			(6,490,362	)		(112,610	)		(117,573	)		29,592,418			13,297,208			351,077			107,031
Contract owners’ equity at beginning of period		10,888,834			17,379,196			296,469			414,042			16,382,936			3,085,728			738,854			631,823

Contract owners’ equity at end of period	$	14,358,882			10,888,834			183,859			296,469			45,975,354			16,382,936			1,089,931			738,854

CHANGE IN UNITS:
Beginning units		39,482			43,683			4,087			5,145			1,307,814			204,215			60,837			47,995
Units purchased		124			20			1,667			3,713			2,250,311			1,278,279			23,525			22,253
Units redeemed		(1,605	)		(4,221	)		(3,504	)		(4,771	)		(377,664	)		(174,680	)		(1,494	)		(9,411	)

Ending units		38,001			39,482			2,250			4,087			3,180,461			1,307,814			82,868			60,837

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	AMVGS4						AMVGV2						AMVI4						AMVNW4
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(9,927	)		(3,864	)		521,445			222,534			2,397			5,906			42,537			5,342
Realized gain (loss) on investments		(13,897	)		(20,982	)		(385,356	)		(29,161	)		(11,397	)		(126,137	)		(13,269	)		(118,264	)
Change in unrealized gain (loss) on investments		254,287			(463,187	)		(38,483	)		(289,150	)		113,468			(149,144	)		1,007,426			5,194
Reinvested capital gains		9,394			225,037			-			-			-			101,736			-			44,785

Net increase (decrease) in contract owners’ equity resulting from operations		239,857			(262,996	)		97,606			(95,777	)		104,468			(167,639	)		1,036,694			(62,943	)

Equity transactions:
Purchase payments received from contract owners (note 4)		1,261,568			5,848			9,175,547			2,503,730			-			57,969			6,318,621			1,963,900
Transfers between funds		537,284			16,572			6,562,117			5,534,797			(485	)		210,057			5,432,597			437,546
Redemptions (notes 2, 3, and 4)		(21,731	)		(6,219	)		(1,656,521	)		(217,099	)		(12,960	)		(13,196	)		(254,050	)		(19,331	)
Adjustments to maintain reserves		(21	)		(246	)		(124	)		(12	)		(21	)		3,645			(109	)		1,363

Net equity transactions		1,777,100			15,955			14,081,019			7,821,416			(13,466	)		258,475			11,497,059			2,383,478

Net change in contract owners’ equity		2,016,957			(247,041	)		14,178,625			7,725,639			91,002			90,836			12,533,753			2,320,535
Contract owners’ equity at beginning of period		633,071			880,112			7,725,639			-			730,127			639,291			2,735,577			415,042

Contract owners’ equity at end of period	$	2,650,028			633,071			21,904,264			7,725,639			821,129			730,127			15,269,330			2,735,577

CHANGE IN UNITS:
Beginning units		58,445			56,798			814,742			-			80,853			55,554			260,431			29,929
Units purchased		178,551			2,095			2,618,545			962,050			4,113			27,323			1,077,089			250,793
Units redeemed		(2,139	)		(448	)		(1,154,499	)		(147,308	)		(5,628	)		(2,024	)		(57,650	)		(20,291	)

Ending units		234,857			58,445			2,278,788			814,742			79,338			80,853			1,279,870			260,431

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	AMVUA4					AVPAP2						BRVDA3					BRVED3
	2023			2022		2023			2022			2023			2022		2023			2022
*Investment activity:**
Net investment income (loss)	$	13,298			-		1,577,732			3,725,002			20,437			-		569,235			(78,098	)
Realized gain (loss) on investments		(109	)		-		(3,187,891	)		5,600,437			2,502			-		(3,914,854	)		2,931,264
Change in unrealized gain (loss) on investments		6,923			-		(16,621,912	)		(132,067,564	)		69,703			-		12,951,260			(38,167,398	)
Reinvested capital gains		-			-		58,428,163			20,868,888			-			-		8,781,667			23,463,182

Net increase (decrease) in contract owners’ equity resulting from operations		20,112			-		40,196,092			(101,873,237	)		92,642			-		18,387,308			(11,851,050	)

Equity transactions:
Purchase payments received from contract owners (note 4)		420,175			-		1,907,822			2,960,151			1,326,714			-		452,192			2,086,764
Transfers between funds		73,404			-		(8,712,440	)		(4,227,058	)		29,964			-		(9,112,773	)		(10,921,345	)
Redemptions (notes 2, 3, and 4)		(340	)		-		(62,962,901	)		(59,917,119	)		(4,774	)		-		(23,868,405	)		(19,508,637	)
Adjustments to maintain reserves		(3	)		-		1,240			21,690			(3	)		-		3,308			(4,588	)

Net equity transactions		493,236			-		(69,766,279	)		(61,162,336	)		1,351,901			-		(32,525,678	)		(28,347,806	)

Net change in contract owners’ equity		513,348			-		(29,570,187	)		(163,035,573	)		1,444,543			-		(14,138,370	)		(40,198,856	)
Contract owners’ equity at beginning of period		-			-		519,517,646			682,553,219			-			-		198,111,383			238,310,239

Contract owners’ equity at end of period	$	513,348			-		489,947,459			519,517,646			1,444,543			-		183,973,013			198,111,383

CHANGE IN UNITS:
Beginning units		-			-		34,391,806			38,311,866			-			-		11,796,314			13,407,076
Units purchased		51,762			-		208,107			1,144,161			140,295			-		420,263			871,128
Units redeemed		(312	)		-		(4,731,002	)		(5,064,221	)		(6,933	)		-		(2,289,455	)		(2,481,890	)

Ending units		51,450			-		29,868,911			34,391,806			133,362			-		9,927,122			11,796,314

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	BRVHY3						BRVTR3						MLVGA3						BRVCA3
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	3,040,619			2,114,559			10,688,575			2,520,085			2,292,345			(4,797,758	)		(2,912	)		-
Realized gain (loss) on investments		(1,250,022	)		(1,022,915	)		(5,674,275	)		(5,600,567	)		(6,601,333	)		(9,149,404	)		2,638			-
Change in unrealized gain (loss) on investments		4,870,997			(9,239,856	)		13,487,146			(79,598,775	)		31,603,323			(51,371,574	)		68,870			-
Reinvested capital gains		-			-			-			85,113			-			4,562,976			52,283			-

Net increase (decrease) in contract owners’ equity resulting from operations		6,661,594			(8,148,212	)		18,501,446			(82,594,144	)		27,294,335			(60,755,760	)		120,879			-

Equity transactions:
Purchase payments received from contract owners (note 4)		5,526,334			8,425,017			38,763,054			49,217,638			7,162,546			11,170,199			1,004,155			-
Transfers between funds		2,669,420			(1,682,782	)		43,510,919			1,836,628			(7,843,486	)		(10,279,719	)		11,811			-
Redemptions (notes 2, 3, and 4)		(4,795,236	)		(3,831,711	)		(43,653,044	)		(26,622,012	)		(22,512,830	)		(23,926,754	)		(1,164	)		-
Adjustments to maintain reserves		59,731			68,480			251,657			757,706			42,986			(21,530	)		(3	)		-

Net equity transactions		3,460,249			2,979,004			38,872,586			25,189,960			(23,150,784	)		(23,057,804	)		1,014,799			-

Net change in contract owners’ equity		10,121,843			(5,169,208	)		57,374,032			(57,404,184	)		4,143,551			(83,813,564	)		1,135,678			-
Contract owners’ equity at beginning of period		58,113,057			63,282,265			452,757,039			510,161,223			269,442,887			353,256,451			-			-

Contract owners’ equity at end of period	$	68,234,900			58,113,057			510,131,071			452,757,039			273,586,438			269,442,887			1,135,678			-

CHANGE IN UNITS:
Beginning units		5,146,571			4,942,037			48,491,736			46,245,716			14,835,357			16,077,316			-			-
Units purchased		1,559,194			2,193,346			11,008,064			9,157,829			654,119			938,948			91,887			-
Units redeemed		(1,285,994	)		(1,988,812	)		(7,020,059	)		(6,911,809	)		(1,903,094	)		(2,180,907	)		(1,088	)		-

Ending units		5,419,771			5,146,571			52,479,741			48,491,736			13,586,382			14,835,357			90,799			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	DCAP						DCAPS						DGI						DSIF
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(204	)		(206	)		(919	)		(1,037	)		(96,899	)		(76,868	)		182,578			1,940
Realized gain (loss) on investments		(1,760	)		(3,071	)		(10,737	)		(7,922	)		(47,245	)		268,303			14,362,082			15,377,401
Change in unrealized gain (loss) on investments		4,146			(12,205	)		37,018			(134,765	)		1,805,434			(5,752,843	)		24,187,406			(86,690,208	)
Reinvested capital gains		2,135			8,717			23,768			81,757			1,557,975			2,892,790			7,973,175			19,566,072

Net increase (decrease) in contract owners’ equity resulting from operations		4,317			(6,765	)		49,130			(61,967	)		3,219,265			(2,668,618	)		46,705,241			(51,744,795	)

Equity transactions:
Purchase payments received from contract owners (note 4)		1			3			73			(348	)		136,161			181,556			1,364,332			1,277,886
Transfers between funds		-			-			(7,987	)		(440	)		267,486			(160,859	)		(2,436,285	)		(4,102,378	)
Redemptions (notes 2, 3, and 4)		(2,621	)		(2,630	)		(1,510	)		(1,163	)		(1,270,123	)		(1,012,290	)		(21,731,250	)		(17,080,175	)
Adjustments to maintain reserves		1,435			(4,541	)		(27	)		3,026			(508	)		453			24,481			(34,027	)

Net equity transactions		(1,185	)		(7,168	)		(9,451	)		1,075			(866,984	)		(991,140	)		(22,778,722	)		(19,938,694	)

Net change in contract owners’ equity		3,132			(13,933	)		39,679			(60,892	)		2,352,281			(3,659,758	)		23,926,519			(71,683,489	)
Contract owners’ equity at beginning of period		22,374			36,307			255,984			316,876			13,275,960			16,935,718			202,879,722			274,563,211

Contract owners’ equity at end of period	$	25,506			22,374			295,663			255,984			15,628,241			13,275,960			226,806,241			202,879,722

CHANGE IN UNITS:
Beginning units		-			-			7,547			7,562			302,903			324,886			2,220,858			2,422,495
Units purchased		-			-			-			138			12,836			4,713			36,783			21,547
Units redeemed		-			-			(238	)		(153	)		(30,612	)		(26,696	)		(259,304	)		(223,184	)

Ending units		-			-			7,309			7,547			285,127			302,903			1,998,337			2,220,858

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	DSIFS						DSRG						DVDLS						DVMCSS
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(1,425	)		(2,042	)		(215,891	)		(314,179	)		(7,326	)		(8,524	)		(312,479	)		(378,344	)
Realized gain (loss) on investments		(30,659	)		(13,806	)		(16,270	)		518,936			(27,367	)		(3,841	)		(1,030,283	)		(371,258	)
Change in unrealized gain (loss) on investments		115,117			(166,016	)		3,321,731			(14,792,543	)		61,802			(256,110	)		5,112,622			(14,439,457	)
Reinvested capital gains		17,646			49,894			4,391,288			2,889,772			14,332			137,437			1,030,624			8,793,297

Net increase (decrease) in contract owners’ equity resulting from operations		100,679			(131,970	)		7,480,858			(11,698,014	)		41,441			(131,038	)		4,800,484			(6,395,762	)

Equity transactions:
Purchase payments received from contract owners (note 4)		(2,693	)		(488	)		102,335			209,604			1,826			5,726			168,926			404,145
Transfers between funds		72,567			(29	)		(345,908	)		(647,801	)		1,972			5,036			(641,331	)		(1,643,100	)
Redemptions (notes 2, 3, and 4)		(177,267	)		(94,267	)		(2,732,495	)		(2,899,513	)		(72,764	)		(15,809	)		(2,581,883	)		(3,538,929	)
Adjustments to maintain reserves		1,731			(5,193	)		(244	)		9,383			(189	)		136			709			2,873

Net equity transactions		(105,662	)		(99,977	)		(2,976,312	)		(3,328,327	)		(69,155	)		(4,911	)		(3,053,579	)		(4,775,011	)

Net change in contract owners’ equity		(4,983	)		(231,947	)		4,504,546			(15,026,341	)		(27,714	)		(135,949	)		1,746,905			(11,170,773	)
Contract owners’ equity at beginning of period		467,080			699,027			35,013,495			50,039,836			594,647			730,596			31,637,757			42,808,530

Contract owners’ equity at end of period	$	462,097			467,080			39,518,041			35,013,495			566,933			594,647			33,384,662			31,637,757

CHANGE IN UNITS:
Beginning units		9,675			11,520			510,415			555,601			21,763			21,937			2,170,198			2,480,470
Units purchased		2,549			768			4,644			3,608			435			331			129,013			129,845
Units redeemed		(4,539	)		(2,613	)		(43,357	)		(48,794	)		(2,879	)		(505	)		(327,374	)		(440,117	)

Ending units		7,685			9,675			471,702			510,415			19,319			21,763			1,971,837			2,170,198

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	DVSCS						CHSMM						CLVHY2						DWVSVS
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(181,988	)		(282,083	)		233,754			33,404			480,906			468,506			(572,984	)		(706,441	)
Realized gain (loss) on investments		(275,772	)		1,529,586			-			-			79,095			(1,073,789	)		(1,045,264	)		(49,259	)
Change in unrealized gain (loss) on investments		4,069,022			(19,773,218	)		-			-			2,036,200			(1,118,292	)		4,002,662			(15,587,051	)
Reinvested capital gains		2,746,801			6,933,145			10			-			-			90,168			2,972,079			5,092,369

Net increase (decrease) in contract owners’ equity resulting from operations		6,358,063			(11,592,570	)		233,764			33,404			2,596,201			(1,633,407	)		5,356,493			(11,250,382	)

Equity transactions:
Purchase payments received from contract owners (note 4)		268,689			282,792			78,259			877,793			1,720,816			2,477,380			5,853,589			8,438,364
Transfers between funds		128,057			(940,281	)		2,093,185			11,574			2,898,094			(75,913	)		(1,698,986	)		(2,712,454	)
Redemptions (notes 2, 3, and 4)		(4,939,388	)		(5,037,303	)		(2,619,857	)		(1,718,321	)		(1,706,123	)		(591,333	)		(5,676,128	)		(5,176,922	)
Adjustments to maintain reserves		8,438			(838	)		(10	)		17			(198	)		17,962			723			8,845

Net equity transactions		(4,534,204	)		(5,695,630	)		(448,423	)		(828,937	)		2,912,589			1,828,096			(1,520,802	)		557,833

Net change in contract owners’ equity		1,823,859			(17,288,200	)		(214,659	)		(795,533	)		5,508,790			194,689			3,835,691			(10,692,549	)
Contract owners’ equity at beginning of period		49,915,042			67,203,242			7,408,715			8,204,248			12,445,453			12,250,764			70,417,857			81,110,406

Contract owners’ equity at end of period	$	51,738,901			49,915,042			7,194,056			7,408,715			17,954,243			12,445,453			74,253,548			70,417,857

CHANGE IN UNITS:
Beginning units		1,030,819			1,143,765			742,491			836,847			1,175,810			1,018,946			3,729,906			3,716,839
Units purchased		45,069			28,915			444,317			291,026			2,379,840			484,779			676,117			783,985
Units redeemed		(131,180	)		(141,861	)		(481,417	)		(385,382	)		(2,012,306	)		(327,915	)		(756,833	)		(770,918	)

Ending units		944,708			1,030,819			705,391			742,491			1,543,344			1,175,810			3,649,190			3,729,906

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	ETVFR						FQB						FQBS						FVU2S
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	6,600,103			3,156,082			46,364			51,589			98,319			110,233			1,219			(7,755	)
Realized gain (loss) on investments		(739,329	)		(3,547,458	)		(124,750	)		(54,756	)		(174,500	)		(268,470	)		(10,684	)		(4,590	)
Change in unrealized gain (loss) on investments		3,112,594			(4,292,704	)		237,827			(513,186	)		522,662			(1,539,200	)		43,963			(213,717	)
Reinvested capital gains		-			-			-			61,574			-			194,834			-			131,232

Net increase (decrease) in contract owners’ equity resulting from operations		8,973,368			(4,684,080	)		159,441			(454,779	)		446,481			(1,502,603	)		34,498			(94,830	)

Equity transactions:
Purchase payments received from contract owners (note 4)		4,855,311			19,609,253			95,934			11,648			22,083			41,012			-			-
Transfers between funds		(10,538,528	)		5,703,428			260,331			69,106			150,648			(615,633	)		(15,023	)		86,180
Redemptions (notes 2, 3, and 4)		(6,957,817	)		(6,447,088	)		(764,055	)		(334,158	)		(1,007,639	)		(925,955	)		(25,015	)		(44,907	)
Adjustments to maintain reserves		642			(115,028	)		(44	)		(27	)		(217	)		(248	)		(44	)		48

Net equity transactions		(12,640,392	)		18,750,565			(407,834	)		(253,431	)		(835,125	)		(1,500,824	)		(40,082	)		41,321

Net change in contract owners’ equity		(3,667,024	)		14,066,485			(248,393	)		(708,210	)		(388,644	)		(3,003,427	)		(5,584	)		(53,509	)
Contract owners’ equity at beginning of period		98,067,474			84,000,989			3,761,523			4,469,733			11,066,337			14,069,764			536,951			590,460

Contract owners’ equity at end of period	$	94,400,450			98,067,474			3,513,130			3,761,523			10,677,693			11,066,337			531,367			536,951

CHANGE IN UNITS:
Beginning units		8,983,148			7,443,287			235,231			250,338			808,674			915,778			51,079			47,630
Units purchased		1,031,759			5,535,960			29,584			13,043			27,456			20,095			224			9,742
Units redeemed		(2,140,763	)		(3,996,099	)		(54,894	)		(28,150	)		(86,342	)		(127,199	)		(4,018	)		(6,293	)

Ending units		7,874,144			8,983,148			209,921			235,231			749,788			808,674			47,285			51,079

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	FAMP						FB2						FC2						FDSCS2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	652,509			512,750			2,053,607			(2,857,222	)		(2,517,354	)		(1,970,490	)		2,643			-
Realized gain (loss) on investments		430,012			1,235,027			12,081,232			6,866,595			2,133,125			2,994,614			1,706			-
Change in unrealized gain (loss) on investments		5,587,073			(21,157,942	)		133,729,781			(283,511,078	)		56,040,713			(71,142,766	)		123,789			-
Reinvested capital gains		760,809			5,207,510			38,145,546			60,065,038			9,288,722			10,000,297			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		7,430,403			(14,202,655	)		186,010,166			(219,436,667	)		64,945,206			(60,118,345	)		128,138			-

Equity transactions:
Purchase payments received from contract owners (note 4)		198,421			567,051			68,077,224			92,122,388			44,781,852			60,318,263			1,019,897			-
Transfers between funds		(1,503,688	)		(1,302,663	)		7,974,498			14,835,795			4,283,425			(5,906,521	)		71,796			-
Redemptions (notes 2, 3, and 4)		(6,041,340	)		(6,675,039	)		(85,076,720	)		(55,313,152	)		(13,050,360	)		(9,232,471	)		(32,364	)		-
Adjustments to maintain reserves		6,797			(16,068	)		7,293			(35,527	)		(6,518	)		(24,390	)		(3	)		-

Net equity transactions		(7,339,810	)		(7,426,719	)		(9,017,705	)		51,609,504			36,008,399			45,154,881			1,059,326			-

Net change in contract owners’ equity		90,593			(21,629,374	)		176,992,461			(167,827,163	)		100,953,605			(14,963,464	)		1,187,464			-
Contract owners’ equity at beginning of period		68,667,589			90,296,963			953,689,733			1,121,516,896			191,306,122			206,269,586			-			-

Contract owners’ equity at end of period	$	68,758,182			68,667,589			1,130,682,194			953,689,733			292,259,727			191,306,122			1,187,464			-

CHANGE IN UNITS:
Beginning units		1,247,167			1,381,586			61,110,368			58,022,390			3,971,397			2,980,286			-			-
Units purchased		5,439			11,303			8,249,909			9,790,707			1,454,141			1,639,698			104,691			-
Units redeemed		(130,134	)		(145,722	)		(8,797,876	)		(6,702,729	)		(708,497	)		(648,587	)		(3,541	)		-

Ending units		1,122,472			1,247,167			60,562,401			61,110,368			4,717,041			3,971,397			101,150			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	FEI2						FEIP						FEMS2						FF10S
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	941,791			847,134			1,322,144			1,327,477			315,701			106,026			81,773			30,891
Realized gain (loss) on investments		2,013,366			561,439			2,095,669			5,579,672			(3,464,687	)		(450,222	)		(102,225	)		(311,763	)
Change in unrealized gain (loss) on investments		15,100,495			(37,465,098	)		10,959,070			(33,707,161	)		6,565,547			(10,266,752	)		17,730			(771,708	)
Reinvested capital gains		9,936,157			11,743,453			6,841,690			8,484,192			-			-			252,736			274,691

Net increase (decrease) in contract owners’ equity resulting from operations		27,991,809			(24,313,072	)		21,218,573			(18,315,820	)		3,416,561			(10,610,948	)		250,014			(777,889	)

Equity transactions:
Purchase payments received from contract owners (note 4)		22,697,505			32,100,280			1,148,835			2,626,377			4,645,598			7,376,242			9,647			9,876
Transfers between funds		(8,965,422	)		(18,160,734	)		(3,204,256	)		(3,987,835	)		(499,206	)		3,105,499			(33,528	)		(275,517	)
Redemptions (notes 2, 3, and 4)		(32,268,735	)		(27,809,081	)		(23,232,351	)		(24,562,067	)		(2,580,232	)		(2,193,902	)		(755,076	)		(408,942	)
Adjustments to maintain reserves		76,028			(93,952	)		53,009			(283,999	)		(259	)		4,878			(71	)		48,515

Net equity transactions		(18,460,624	)		(13,963,487	)		(25,234,763	)		(26,207,524	)		1,565,901			8,292,717			(779,028	)		(626,068	)

Net change in contract owners’ equity		9,531,185			(38,276,559	)		(4,016,190	)		(44,523,344	)		4,982,462			(2,318,231	)		(529,014	)		(1,403,957	)
Contract owners’ equity at beginning of period		335,786,992			374,063,551			250,196,124			294,719,468			43,253,638			45,571,869			3,694,205			5,098,162

Contract owners’ equity at end of period	$	345,318,177			335,786,992			246,179,934			250,196,124			48,236,100			43,253,638			3,165,191			3,694,205

CHANGE IN UNITS:
Beginning units		9,148,788			9,481,876			2,290,342			2,538,148			4,220,153			3,494,272			213,593			251,352
Units purchased		1,099,531			1,419,371			15,252			24,940			1,172,079			1,398,294			4,157			7,101
Units redeemed		(1,540,608	)		(1,752,459	)		(246,625	)		(272,746	)		(1,035,455	)		(672,413	)		(48,014	)		(44,860	)

Ending units		8,707,711			9,148,788			2,058,969			2,290,342			4,356,777			4,220,153			169,736			213,593

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	FF10S2						FF20S						FF20S2						FF30S
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	4,897,724			1,250,417			105,540			40,716			4,400,078			1,289,796			155,290			78,894
Realized gain (loss) on investments		(5,074,926	)		683,785			(19,406	)		(924,355	)		3,588,709			7,531,382			(35,507	)		298,160
Change in unrealized gain (loss) on investments		309,636			(61,194,736	)		479,702			(1,216,486	)		19,558,845			(112,553,483	)		1,634,847			(4,581,056	)
Reinvested capital gains		15,845,346			15,963,140			39,375			684,572			2,136,776			35,698,856			-			954,580

Net increase (decrease) in contract owners’ equity resulting from operations		15,977,780			(43,297,394	)		605,211			(1,415,553	)		29,684,408			(68,033,449	)		1,754,630			(3,249,422	)

Equity transactions:
Purchase payments received from contract owners (note 4)		3,598,656			5,050,382			42,694			122,511			4,138,179			3,311,385			435,152			412,868
Transfers between funds		(11,626,874	)		(8,168,430	)		120,833			(244,352	)		(3,915,809	)		(8,456,170	)		128,147			308,788
Redemptions (notes 2, 3, and 4)		(24,836,839	)		(23,918,986	)		(349,976	)		(902,810	)		(35,658,681	)		(36,141,371	)		(989,554	)		(695,741	)
Adjustments to maintain reserves		19,654			(913	)		(568	)		71,319			60,367			(43,597	)		(102	)		263,511

Net equity transactions		(32,845,403	)		(27,037,947	)		(187,017	)		(953,332	)		(35,375,944	)		(41,329,753	)		(426,357	)		289,426

Net change in contract owners’ equity		(16,867,623	)		(70,335,341	)		418,194			(2,368,885	)		(5,691,536	)		(109,363,202	)		1,328,273			(2,959,996	)
Contract owners’ equity at beginning of period		229,697,446			300,032,787			5,589,810			7,958,695			298,550,556			407,913,758			13,665,905			16,625,901

Contract owners’ equity at end of period	$	212,829,823			229,697,446			6,008,004			5,589,810			292,859,020			298,550,556			14,994,178			13,665,905

CHANGE IN UNITS:
Beginning units		12,602,083			14,022,493			298,259			355,112			14,602,455			16,526,244			664,027			662,336
Units purchased		439,763			745,175			16,165			9,664			416,954			479,340			39,024			53,472
Units redeemed		(2,197,107	)		(2,165,585	)		(25,272	)		(66,517	)		(2,069,328	)		(2,403,129	)		(58,748	)		(51,781	)

Ending units		10,844,739			12,602,083			289,152			298,259			12,950,081			14,602,455			644,303			664,027

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	FF30S2						FG2						FGI2						FGP
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	564,574			156,950			(9,866,804	)		(7,332,568	)		1,294,693			1,446,869			(5,410,999	)		(3,311,820	)
Realized gain (loss) on investments		678,639			487,025			18,652,171			23,149,004			11,747,883			11,322,975			30,790,141			31,029,272
Change in unrealized gain (loss) on investments		8,529,488			(24,151,324	)		157,041,592			(272,119,706	)		82,530,563			(79,181,598	)		87,790,340			(211,898,843	)
Reinvested capital gains		-			5,718,112			33,319,473			50,340,361			31,925,261			16,255,312			21,031,757			35,179,515

Net increase (decrease) in contract owners’ equity resulting from operations		9,772,701			(17,789,237	)		199,146,432			(205,962,909	)		127,498,400			(50,156,442	)		134,201,239			(149,001,876	)

Equity transactions:
Purchase payments received from contract owners (note 4)		1,555,494			7,439,768			57,164,566			71,755,013			57,650,912			80,226,123			2,067,548			3,806,085
Transfers between funds		(251,918	)		(987,471	)		(8,543,713	)		(40,922,183	)		(34,247,693	)		(26,610,165	)		(3,519,275	)		(7,708,452	)
Redemptions (notes 2, 3, and 4)		(6,462,566	)		(5,917,498	)		(57,480,127	)		(47,802,590	)		(60,611,709	)		(40,139,598	)		(41,847,139	)		(38,863,212	)
Adjustments to maintain reserves		1,729			1,766			(93,980	)		(61,005	)		4,292			(31,413	)		28,024			(133,758	)

Net equity transactions		(5,157,261	)		536,565			(8,953,254	)		(17,030,765	)		(37,204,198	)		13,444,947			(43,270,842	)		(42,899,337	)

Net change in contract owners’ equity		4,615,440			(17,252,672	)		190,193,178			(222,993,674	)		90,294,202			(36,711,495	)		90,930,397			(191,901,213	)
Contract owners’ equity at beginning of period		79,393,513			96,646,185			592,868,089			815,861,763			782,987,594			819,699,089			409,022,680			600,923,893

Contract owners’ equity at end of period	$	84,008,953			79,393,513			783,061,267			592,868,089			873,281,796			782,987,594			499,953,077			409,022,680

CHANGE IN UNITS:
Beginning units		3,476,229			3,465,488			11,121,608			11,354,636			42,828,698			41,953,858			2,093,774			2,300,262
Units purchased		185,491			501,492			2,103,232			2,090,068			4,245,173			7,813,670			25,967			27,751
Units redeemed		(403,215	)		(490,751	)		(2,206,086	)		(2,323,096	)		(6,174,941	)		(6,938,830	)		(221,843	)		(234,239	)

Ending units		3,258,505			3,476,229			11,018,754			11,121,608			40,898,930			42,828,698			1,897,898			2,093,774

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	FHIP						FIGBP2						FIGBS						FMC2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	1,016,486			1,005,259			12,670,359			7,587,881			142,306			93,919			(2,014,440	)		(2,496,735	)
Realized gain (loss) on investments		(334,058	)		(993,161	)		(9,532,747	)		(11,102,950	)		(65,040	)		(1,809,160	)		2,759,705			2,357,624
Change in unrealized gain (loss) on investments		1,405,947			(3,926,431	)		44,049,252			(226,212,205	)		439,031			(779,003	)		16,006,546			(51,481,406	)
Reinvested capital gains		-			-			-			58,435,931			-			620,975			4,901,092			13,287,532

Net increase (decrease) in contract owners’ equity resulting from operations		2,088,375			(3,914,333	)		47,186,864			(171,291,343	)		516,297			(1,873,269	)		21,652,903			(38,332,985	)

Equity transactions:
Purchase payments received from contract owners (note 4)		166,267			536,433			65,127,454			69,273,175			234,866			165,768			1,242,907			1,274,492
Transfers between funds		(836,717	)		(786,715	)		99,242,559			(9,863,211	)		1,777,520			(572,973	)		(4,170,156	)		(7,729,772	)
Redemptions (notes 2, 3, and 4)		(2,001,292	)		(2,927,809	)		(90,263,335	)		(71,353,606	)		(1,263,960	)		(1,136,590	)		(21,221,210	)		(18,291,105	)
Adjustments to maintain reserves		9,321			27,488			11,451			17,892			7,905			81,001			20,504			(491	)

Net equity transactions		(2,662,421	)		(3,150,603	)		74,118,129			(11,925,750	)		756,331			(1,462,794	)		(24,127,955	)		(24,746,876	)

Net change in contract owners’ equity		(574,046	)		(7,064,936	)		121,304,993			(183,217,093	)		1,272,628			(3,336,063	)		(2,475,052	)		(63,079,861	)
Contract owners’ equity at beginning of period		25,024,682			32,089,618			984,842,956			1,168,060,049			10,206,056			13,542,119			179,989,870			243,069,731

Contract owners’ equity at end of period	$	24,450,636			25,024,682			1,106,147,949			984,842,956			11,478,684			10,206,056			177,514,818			179,989,870

CHANGE IN UNITS:
Beginning units		677,829			755,660			69,046,210			70,214,482			710,737			809,337			3,220,863			3,651,445
Units purchased		19,778			53,072			13,033,717			9,657,739			160,146			36,546			105,660			173,108
Units redeemed		(94,465	)		(130,903	)		(7,996,019	)		(10,826,011	)		(107,442	)		(135,146	)		(520,075	)		(603,690	)

Ending units		603,142			677,829			74,083,908			69,046,210			763,441			710,737			2,806,448			3,220,863

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	FMCS						FNRS2						FO2						FOP
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(119,640	)		(143,414	)		989,370			829,258			(812,173	)		(603,323	)		(129,753	)		(120,622	)
Realized gain (loss) on investments		(84,195	)		183,105			19,271,089			29,000,430			6,640,597			1,319,949			820,175			1,397,753
Change in unrealized gain (loss) on investments		1,672,916			(4,563,673	)		(23,108,237	)		18,833,284			12,652,208			(33,573,736	)		6,461,378			(16,455,565	)
Reinvested capital gains		408,359			1,026,472			-			-			278,405			898,492			107,543			415,643

Net increase (decrease) in contract owners’ equity resulting from operations		1,877,440			(3,497,510	)		(2,847,778	)		48,662,972			18,759,037			(31,958,618	)		7,259,343			(14,762,791	)

Equity transactions:
Purchase payments received from contract owners (note 4)		105,379			205,258			8,852,182			14,294,056			6,676,344			7,695,033			280,623			418,213
Transfers between funds		(171,306	)		(376,150	)		(33,662,725	)		15,194,450			(17,475,800	)		21,549,729			(699,152	)		(479,588	)
Redemptions (notes 2, 3, and 4)		(878,881	)		(1,082,518	)		(11,371,302	)		(13,655,478	)		(10,863,733	)		(7,692,425	)		(3,973,300	)		(3,637,965	)
Adjustments to maintain reserves		992			528,589			2,854			13,753			8,380			10,622			1,193			7,427

Net equity transactions		(943,816	)		(724,821	)		(36,178,991	)		15,846,781			(21,654,809	)		21,562,959			(4,390,636	)		(3,691,913	)

Net change in contract owners’ equity		933,624			(4,222,331	)		(39,026,769	)		64,509,753			(2,895,772	)		(10,395,659	)		2,868,707			(18,454,704	)
Contract owners’ equity at beginning of period		14,585,409			18,807,740			135,456,438			70,946,685			112,954,821			123,350,480			40,300,014			58,754,718

Contract owners’ equity at end of period	$	15,519,033			14,585,409			96,429,669			135,456,438			110,059,049			112,954,821			43,168,721			40,300,014

CHANGE IN UNITS:
Beginning units		553,589			599,734			6,351,892			5,360,513			4,232,584			3,422,634			1,041,498			1,132,197
Units purchased		12,087			16,247			1,610,518			6,774,604			1,087,902			1,481,677			20,030			22,620
Units redeemed		(46,849	)		(62,392	)		(3,433,146	)		(5,783,225	)		(1,821,316	)		(671,727	)		(123,951	)		(113,319	)

Ending units		518,827			553,589			4,529,264			6,351,892			3,499,170			4,232,584			937,577			1,041,498

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	FRESS2						FV2					FVFRHI					FVICA2
	2023			2022			2023			2022		2023			2022		2023			2022
*Investment activity:**
Net investment income (loss)	$	133,184			(70,446	)		9,840			-		838,895			-		(2,051	)		-
Realized gain (loss) on investments		(412,204	)		(1,013,846	)		1,854			-		59,407			-		(232	)		-
Change in unrealized gain (loss) on investments		971,131			(5,548,373	)		68,668			-		(382,124	)		-		204,804			-
Reinvested capital gains		549,273			674,007			43,547			-		-			-		-			-

Net increase (decrease) in contract owners’ equity resulting from operations		1,241,384			(5,958,658	)		123,909			-		516,178			-		202,521			-

Equity transactions:
Purchase payments received from contract owners (note 4)		777,559			4,457,730			1,181,845			-		4,427,800			-		1,841,839			-
Transfers between funds		489,145			(12,994,872	)		82,672			-		12,859,501			-		105,702			-
Redemptions (notes 2, 3, and 4)		(686,017	)		(1,133,799	)		(32,827	)		-		(319,889	)		-		(49,847	)		-
Adjustments to maintain reserves		(195	)		329,410			(3	)		-		(24	)		-		(4	)		-

Net equity transactions		580,492			(9,341,531	)		1,231,687			-		16,967,388			-		1,897,690			-

Net change in contract owners’ equity		1,821,876			(15,300,189	)		1,355,596			-		17,483,566			-		2,100,211			-
Contract owners’ equity at beginning of period		12,586,489			27,886,678			-			-		-			-		-			-

Contract owners’ equity at end of period	$	14,408,365			12,586,489			1,355,596			-		17,483,566			-		2,100,211			-

CHANGE IN UNITS:
Beginning units		1,008,409			1,617,815			-			-		-			-		-			-
Units purchased		206,255			492,148			120,318			-		1,862,168			-		194,664			-
Units redeemed		(159,479	)		(1,101,554	)		(3,588	)		-		(225,016	)		-		(5,461	)		-

Ending units		1,055,185			1,008,409			116,730			-		1,637,152			-		189,203			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	FVSIS2					FVSS						FVSS2						FTVDM2
	2023			2022		2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	101,129			-		(6,810	)		(17,704	)		(61,785	)		11,492			35,804			69,840
Realized gain (loss) on investments		33			-		(61,227	)		346,121			(294,385	)		612,849			(77,096	)		22,812
Change in unrealized gain (loss) on investments		33,898			-		741,139			(1,319,111	)		2,646,816			(1,818,174	)		615,393			(2,289,519	)
Reinvested capital gains		-			-		197,086			223,560			868,777			565,411			4,205			452,575

Net increase (decrease) in contract owners’ equity resulting from operations		135,060			-		870,188			(767,134	)		3,159,423			(628,422	)		578,306			(1,744,292	)

Equity transactions:
Purchase payments received from contract owners (note 4)		2,544,435			-		371,828			26,834			5,829,764			3,339,484			19,973			78,795
Transfers between funds		74,847			-		168,244			(747,318	)		4,083,798			5,133,659			(113,757	)		(43,065	)
Redemptions (notes 2, 3, and 4)		(35,361	)		-		(604,109	)		(548,179	)		(2,036,654	)		(421,080	)		(540,768	)		(378,565	)
Adjustments to maintain reserves		(3	)		-		(54	)		235,452			2,190			236,364			(210	)		(127	)

Net equity transactions		2,583,918			-		(64,091	)		(1,033,211	)		7,879,098			8,288,427			(634,762	)		(342,962	)

Net change in contract owners’ equity		2,718,978			-		806,097			(1,800,345	)		11,038,521			7,660,005			(56,456	)		(2,087,254	)
Contract owners’ equity at beginning of period		-			-		4,500,565			6,300,910			13,787,135			6,127,130			5,510,146			7,597,400

Contract owners’ equity at end of period	$	2,718,978			-		5,306,662			4,500,565			24,825,656			13,787,135			5,453,690			5,510,146

CHANGE IN UNITS:
Beginning units		-			-		117,961			150,168			276,962			106,536			543,593			576,771
Units purchased		263,969			-		25,387			18,745			323,890			229,470			16,037			33,515
Units redeemed		(5,330	)		-		(26,675	)		(50,952	)		(173,153	)		(59,044	)		(74,482	)		(66,693	)

Ending units		258,639			-		116,673			117,961			427,699			276,962			485,148			543,593

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	FTVFA2						FTVGI2						FTVIS2						FTVMD2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(104,788	)		(19,354	)		(837,660	)		(976,445	)		7,206,798			7,476,303			12,044			5,143
Realized gain (loss) on investments		(5,098,921	)		(3,447,604	)		(3,638,109	)		(4,883,697	)		(1,040,828	)		(1,653,195	)		(5,341	)		104,377
Change in unrealized gain (loss) on investments		11,366,573			(17,049,817	)		5,008,144			1,444,234			(5,950,062	)		(26,958,150	)		70,234			(179,577	)
Reinvested capital gains		1,010,425			6,529,490			-			-			12,489,665			4,432,615			32,065			48,433

Net increase (decrease) in contract owners’ equity resulting from operations		7,173,289			(13,987,285	)		532,375			(4,415,908	)		12,705,573			(16,702,427	)		109,002			(21,624	)

Equity transactions:
Purchase payments received from contract owners (note 4)		504,788			784,011			427,254			462,598			1,552,185			5,339,760			-			(1,566	)
Transfers between funds		(626,576	)		(2,409,147	)		(1,342,346	)		(3,928,474	)		(12,906,322	)		11,389,703			(50,305	)		(52,135	)
Redemptions (notes 2, 3, and 4)		(7,738,191	)		(7,438,818	)		(5,628,976	)		(5,333,530	)		(19,190,949	)		(18,077,512	)		(22,906	)		(61,251	)
Adjustments to maintain reserves		7,297			(8,701	)		27,023			36,021			32,608			(21,894	)		(32	)		(13,587	)

Net equity transactions		(7,852,682	)		(9,072,655	)		(6,517,045	)		(8,763,385	)		(30,512,478	)		(1,369,943	)		(73,243	)		(128,539	)

Net change in contract owners’ equity		(679,393	)		(23,059,940	)		(5,984,670	)		(13,179,293	)		(17,806,905	)		(18,072,370	)		35,759			(150,163	)
Contract owners’ equity at beginning of period		60,206,744			83,266,684			57,662,117			70,841,410			205,255,427			223,327,797			606,283			756,446

Contract owners’ equity at end of period	$	59,527,351			60,206,744			51,677,447			57,662,117			187,448,522			205,255,427			642,042			606,283

CHANGE IN UNITS:
Beginning units		4,099,175			4,690,626			7,487,167			8,613,994			10,874,715			10,933,413			37,010			43,815
Units purchased		85,487			195,710			345,359			352,075			469,065			2,171,009			1,451			1,601
Units redeemed		(594,024	)		(787,161	)		(1,204,505	)		(1,478,902	)		(2,152,506	)		(2,229,707	)		(5,731	)		(8,406	)

Ending units		3,590,638			4,099,175			6,628,021			7,487,167			9,191,274			10,874,715			32,730			37,010

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	FTVRD2						FTVSI2						FTVSV2						TIF2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(124	)		(116	)		31,110			52,538			(533,755	)		(317,743	)		332,472			338,584
Realized gain (loss) on investments		(1,016	)		(841	)		(70,323	)		(127,340	)		(3,673,212	)		(3,214,303	)		(881,979	)		(1,385,425	)
Change in unrealized gain (loss) on investments		1,011			(3,441	)		74,710			(76,951	)		6,994,082			(16,910,719	)		4,029,219			(1,074,510	)
Reinvested capital gains		1,223			1,952			-			-			3,192,937			12,027,325			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		1,094			(2,446	)		35,497			(151,753	)		5,980,052			(8,415,440	)		3,479,712			(2,121,351	)

Equity transactions:
Purchase payments received from contract owners (note 4)		-			6			11,183			1,415			147,961			410,641			88,071			95,017
Transfers between funds		-			-			(262,822	)		(579,566	)		(2,532,506	)		(2,434,402	)		(2,582,366	)		408,953
Redemptions (notes 2, 3, and 4)		(3,228	)		(3,236	)		(57,389	)		(28,998	)		(6,094,240	)		(6,117,676	)		(2,833,740	)		(2,163,990	)
Adjustments to maintain reserves		3,852			(2,794	)		(19	)		26			647			7,134			(640	)		10,993

Net equity transactions		624			(6,024	)		(309,047	)		(607,123	)		(8,478,138	)		(8,134,303	)		(5,328,675	)		(1,649,027	)

Net change in contract owners’ equity		1,718			(8,470	)		(273,550	)		(758,876	)		(2,498,086	)		(16,549,743	)		(1,848,963	)		(3,770,378	)
Contract owners’ equity at beginning of period		12,274			20,744			711,829			1,470,705			59,605,293			76,155,036			20,924,219			24,694,597

Contract owners’ equity at end of period	$	13,992			12,274			438,279			711,829			57,107,207			59,605,293			19,075,256			20,924,219

CHANGE IN UNITS:
Beginning units		-			-			67,667			123,686			1,215,369			1,371,223			1,043,639			1,117,196
Units purchased		-			-			6,357			3,540			36,578			55,226			37,279			107,901
Units redeemed		-			-			(35,141	)		(59,559	)		(206,088	)		(211,080	)		(292,813	)		(181,458	)

Ending units		-			-			38,883			67,667			1,045,859			1,215,369			788,105			1,043,639

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	GVGMNS						GVMSAS						GVSSCS						RSRF
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	8,767			(142,327	)		349,694			23,977			1,807			(1,769	)		(131	)		(72	)
Realized gain (loss) on investments		(64,202	)		(536,952	)		(86,205	)		(1,552,085	)		351			(50,560	)		(188	)		(1,166	)
Change in unrealized gain (loss) on investments		1,073,729			(1,765,917	)		184,438			(431,793	)		82,361			(74,511	)		6,544			(12,974	)
Reinvested capital gains		-			316,510			-			-			-			5,061			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		1,018,294			(2,128,686	)		447,927			(1,959,901	)		84,519			(121,779	)		6,225			(14,212	)

Equity transactions:
Purchase payments received from contract owners (note 4)		19,697			32,518			943,024			2,452,815			14,303			-			-			-
Transfers between funds		187,771			(341,986	)		(1,043,204	)		3,495,186			8,200			(8,904	)		3,595			5,500
Redemptions (notes 2, 3, and 4)		(813,590	)		(769,254	)		(452,265	)		(1,059,904	)		(9,330	)		(18,759	)		(2,218	)		-
Adjustments to maintain reserves		1,569			16,353			(130	)		50,596			(21	)		5,334			(8	)		(3	)

Net equity transactions		(604,553	)		(1,062,369	)		(552,575	)		4,938,693			13,152			(22,329	)		1,369			5,497

Net change in contract owners’ equity		413,741			(3,191,055	)		(104,648	)		2,978,792			97,671			(144,108	)		7,594			(8,715	)
Contract owners’ equity at beginning of period		7,691,924			10,882,979			7,138,504			4,159,712			441,888			585,996			50,020			58,735

Contract owners’ equity at end of period	$	8,105,665			7,691,924			7,033,856			7,138,504			539,559			441,888			57,614			50,020

CHANGE IN UNITS:
Beginning units		643,914			724,944			706,631			378,957			21,309			22,617			4,704			4,704
Units purchased		36,802			21,769			268,700			4,793,092			1,628			852			318			9,457
Units redeemed		(85,681	)		(102,799	)		(320,599	)		(4,465,418	)		(958	)		(2,160	)		(194	)		(9,457	)

Ending units		595,035			643,914			654,732			706,631			21,979			21,309			4,828			4,704

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	RVARS						ACEG2						AVHY2					IVBRA1
	2023			2022			2023			2022			2023			2022		2023			2022
*Investment activity:**
Net investment income (loss)	$	164,769			(73,899	)		(5,078	)		(4,970	)		6,286			-		(666	)		13,272
Realized gain (loss) on investments		67,822			427,933			(16,332	)		(72,951	)		13			-		(384	)		(11,283	)
Change in unrealized gain (loss) on investments		151,260			(1,539,504	)		95,064			(91,015	)		1,704			-		11,222			(37,035	)
Reinvested capital gains		-			198,278			5,728			67,988			-			-		-			6,540

Net increase (decrease) in contract owners’ equity resulting from operations		383,851			(987,192	)		79,382			(100,948	)		8,003			-		10,172			(28,506	)

Equity transactions:
Purchase payments received from contract owners (note 4)		72,552			95,831			120			120			144,516			-		-			5,000
Transfers between funds		(3,418,062	)		6,176,446			31,559			15,909			(1,114	)		-		-			37,205
Redemptions (notes 2, 3, and 4)		(1,308,338	)		(1,970,632	)		(7,289	)		(8,527	)		(132	)		-		(1,165	)		(60,775	)
Adjustments to maintain reserves		5,184			351			2			268			-			-		(8	)		(1,242	)

Net equity transactions		(4,648,664	)		4,301,996			24,392			7,770			143,270			-		(1,173	)		(19,812	)

Net change in contract owners’ equity		(4,264,813	)		3,314,804			103,774			(93,178	)		151,273			-		8,999			(48,318	)
Contract owners’ equity at beginning of period		18,259,011			14,944,207			206,242			299,420			-			-		164,354			212,672

Contract owners’ equity at end of period	$	13,994,198			18,259,011			310,016			206,242			151,273			-		173,353			164,354

CHANGE IN UNITS:
Beginning units		1,739,971			1,353,251			9,008			8,800			-			-		12,345			13,627
Units purchased		665,017			946,211			2,058			918			14,467			-		-			3,266
Units redeemed		(1,105,659	)		(559,491	)		(1,271	)		(710	)		(197	)		-		(85	)		(4,548	)

Ending units		1,299,329			1,739,971			9,795			9,008			14,270			-		12,260			12,345

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	IVCPB2					IVCPBI						IVDDII					IVMCC2
	2023			2022		2023			2022			2023			2022		2023			2022
*Investment activity:**
Net investment income (loss)	$	68,587			-		135,297			(39,647	)		23,435			-		(164,944	)		(184,047	)
Realized gain (loss) on investments		(2,032	)		-		(75,001	)		(34,785	)		51			-		(710,550	)		(474,594	)
Change in unrealized gain (loss) on investments		97,120			-		447,437			(669,638	)		(19,747	)		-		2,074,828			(3,956,701	)
Reinvested capital gains		-			-		-			7,714			143,078			-		-			2,412,193

Net increase (decrease) in contract owners’ equity resulting from operations		163,675			-		507,733			(736,356	)		146,817			-		1,199,334			(2,203,149	)

Equity transactions:
Purchase payments received from contract owners (note 4)		3,781,363			-		133,301			95,082			1,984,769			-		34,002			101,078
Transfers between funds		22,917			-		(318,014	)		13,401,628			22,618			-		(197,397	)		(729,192	)
Redemptions (notes 2, 3, and 4)		(10,750	)		-		(992,151	)		(1,086,383	)		(4,480	)		-		(817,297	)		(1,337,668	)
Adjustments to maintain reserves		(2	)		-		(10,700	)		121,495			(4	)		-		6,914			19,717

Net equity transactions		3,793,528			-		(1,187,564	)		12,531,822			2,002,903			-		(973,778	)		(1,946,065	)

Net change in contract owners’ equity		3,957,203			-		(679,831	)		11,795,466			2,149,720			-		225,556			(4,149,214	)
Contract owners’ equity at beginning of period		-			-		11,795,466			-			-			-		10,252,150			14,401,364

Contract owners’ equity at end of period	$	3,957,203			-		11,115,635			11,795,466			2,149,720			-		10,477,706			10,252,150

CHANGE IN UNITS:
Beginning units		-			-		1,244,061			-			-			-		577,803			684,761
Units purchased		386,640			-		36,075			1,374,661			207,518			-		33,170			47,430
Units redeemed		(2,935	)		-		(159,823	)		(130,600	)		(5,131	)		-		(85,341	)		(154,388	)

Ending units		383,705			-		1,120,313			1,244,061			202,387			-		525,632			577,803

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	OVAG						OVAG2						OVGIS						OVGS
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(117,219	)		(137,515	)		(165,278	)		(186,485	)		(220	)		(107	)		(1,172,249	)		(1,484,355	)
Realized gain (loss) on investments		(475,793	)		237,089			(551,158	)		187,221			(8,133	)		(7,018	)		(1,970,880	)		(157,748	)
Change in unrealized gain (loss) on investments		1,580,575			(7,641,611	)		1,965,850			(9,379,757	)		11,325			(11,597	)		21,132,727			(67,476,683	)
Reinvested capital gains		-			2,811,546			-			3,800,658			1,032			6,961			12,147,923			18,911,775

Net increase (decrease) in contract owners’ equity resulting from operations		987,563			(4,730,491	)		1,249,414			(5,578,363	)		4,004			(11,761	)		30,137,521			(50,207,011	)

Equity transactions:
Purchase payments received from contract owners (note 4)		75,317			142,882			835,432			82,764			(641	)		(39,563	)		678,054			1,087,818
Transfers between funds		(210,378	)		(798,225	)		159,150			325,928			3,775			256			(1,806,629	)		(1,062,635	)
Redemptions (notes 2, 3, and 4)		(680,586	)		(1,035,054	)		(1,277,860	)		(1,199,878	)		(8,008	)		(3,101	)		(10,539,501	)		(10,086,540	)
Adjustments to maintain reserves		(84	)		(1,321	)		15,901			18,553			2,256			39,035			(12,700	)		(23,475	)

Net equity transactions		(815,731	)		(1,691,718	)		(267,377	)		(772,633	)		(2,618	)		(3,373	)		(11,680,776	)		(10,084,832	)

Net change in contract owners’ equity		171,832			(6,422,209	)		982,037			(6,350,996	)		1,386			(15,134	)		18,456,745			(60,291,843	)
Contract owners’ equity at beginning of period		9,071,284			15,493,493			11,084,497			17,435,493			16,181			31,315			96,344,240			156,636,083

Contract owners’ equity at end of period	$	9,243,116			9,071,284			12,066,534			11,084,497			17,567			16,181			114,800,985			96,344,240

CHANGE IN UNITS:
Beginning units		549,047			638,955			952,872			1,016,856			194			206			1,208,663			1,313,803
Units purchased		15,409			39,261			131,284			135,463			137			3			29,561			28,788
Units redeemed		(63,604	)		(129,169	)		(156,263	)		(199,447	)		(166	)		(15	)		(163,745	)		(133,928	)

Ending units		500,852			549,047			927,893			952,872			165			194			1,074,479			1,208,663

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	OVGSS						OVIG						OVIGS						OVMS
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(1,622,985	)		(1,611,590	)		1,500			(6,803	)		(10,804	)		(14,001	)		94,316			2,901
Realized gain (loss) on investments		(312,983	)		(161,027	)		(78,767	)		(41,894	)		(224,133	)		(63,108	)		155,324			321,895
Change in unrealized gain (loss) on investments		19,501,636			(66,145,772	)		340,207			(744,583	)		407,070			(470,047	)		1,650,800			(6,208,141	)
Reinvested capital gains		12,949,579			19,115,803			-			267,286			-			179,123			-			1,527,918

Net increase (decrease) in contract owners’ equity resulting from operations		30,515,247			(48,802,586	)		262,940			(525,994	)		172,133			(368,033	)		1,900,440			(4,355,427	)

Equity transactions:
Purchase payments received from contract owners (note 4)		3,520,555			7,731,362			16,266			70,712			22,384			22,964			106,011			151,417
Transfers between funds		(2,138,049	)		(2,520,664	)		(71,826	)		48,514			(17,398	)		64,622			(336,026	)		(337,674	)
Redemptions (notes 2, 3, and 4)		(10,187,893	)		(9,215,278	)		(160,727	)		(102,277	)		(84,740	)		(112,398	)		(1,857,681	)		(2,058,076	)
Adjustments to maintain reserves		(6,716	)		(26,522	)		(8	)		(886	)		(40	)		165			8,752			30,648

Net equity transactions		(8,812,103	)		(4,031,102	)		(216,295	)		16,063			(79,794	)		(24,647	)		(2,078,944	)		(2,213,685	)

Net change in contract owners’ equity		21,703,144			(52,833,688	)		46,645			(509,931	)		92,339			(392,680	)		(178,504	)		(6,569,112	)
Contract owners’ equity at beginning of period		96,868,670			149,702,358			1,365,614			1,875,545			934,597			1,327,277			18,240,527			24,809,639

Contract owners’ equity at end of period	$	118,571,814			96,868,670			1,412,259			1,365,614			1,026,936			934,597			18,062,023			18,240,527

CHANGE IN UNITS:
Beginning units		2,395,430			2,473,958			102,792			102,472			91,537			93,240			479,504			534,144
Units purchased		341,716			370,711			8,326			16,986			28,682			15,096			4,661			10,069
Units redeemed		(493,928	)		(449,239	)		(22,833	)		(16,666	)		(35,729	)		(16,799	)		(57,811	)		(64,709	)

Ending units		2,243,218			2,395,430			88,285			102,792			84,490			91,537			426,354			479,504

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	OVSB						OVSBS						OVSC						OVSCS
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(15,494	)		(14,784	)		(47,720	)		(53,250	)		(8,019	)		(39,700	)		(607,730	)		(1,339,614	)
Realized gain (loss) on investments		4,763			(254,265	)		5,359			(823,208	)		(50,410	)		84,273			(348,403	)		2,016,368
Change in unrealized gain (loss) on investments		91,146			96,262			264,833			311,872			767,694			(1,625,554	)		17,119,277			(34,919,700	)
Reinvested capital gains		-			-			-			-			-			567,808			-			12,658,933

Net increase (decrease) in contract owners’ equity resulting from operations		80,415			(172,787	)		222,472			(564,586	)		709,265			(1,013,173	)		16,163,144			(21,584,013	)

Equity transactions:
Purchase payments received from contract owners (note 4)		23,554			15,647			(17,603	)		78,089			18,634			64,839			7,474,337			8,345,131
Transfers between funds		67,831			139,185			(67,066	)		(5,146	)		(93,683	)		(161,158	)		10,673,078			(3,157,950	)
Redemptions (notes 2, 3, and 4)		(73,551	)		(234,090	)		(255,150	)		(277,807	)		(471,015	)		(422,103	)		(10,275,089	)		(8,717,550	)
Adjustments to maintain reserves		(45	)		5,910			390			18,008			673			(2,257	)		6,816			(47,966	)

Net equity transactions		17,789			(73,348	)		(339,429	)		(186,856	)		(545,391	)		(520,679	)		7,879,142			(3,578,335	)

Net change in contract owners’ equity		98,204			(246,135	)		(116,957	)		(751,442	)		163,874			(1,533,852	)		24,042,286			(25,162,348	)
Contract owners’ equity at beginning of period		1,072,788			1,318,923			3,396,915			4,148,357			4,674,590			6,208,442			99,981,621			125,143,969

Contract owners’ equity at end of period	$	1,170,992			1,072,788			3,279,958			3,396,915			4,838,464			4,674,590			124,023,907			99,981,621

CHANGE IN UNITS:
Beginning units		112,988			121,425			373,625			396,751			171,078			188,721			1,895,508			1,950,036
Units purchased		27,521			17,839			20,343			29,301			10,389			11,930			843,613			258,518
Units redeemed		(25,698	)		(26,276	)		(57,481	)		(52,427	)		(29,604	)		(29,573	)		(682,372	)		(313,046	)

Ending units		114,811			112,988			336,487			373,625			151,863			171,078			2,056,749			1,895,508

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	WRASP						WRENG						WRHIP						WRMCG
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	324,502			(235,429	)		2,539			7,795			2,112,807			2,651,716			(2,831,991	)		(2,805,662	)
Realized gain (loss) on investments		(2,598,938	)		(4,340,454	)		84,967			2,687			(2,545,207	)		(2,300,477	)		(3,009,744	)		(1,409,469	)
Change in unrealized gain (loss) on investments		13,709,579			(26,248,878	)		(78,626	)		73,969			4,778,046			(7,906,670	)		15,663,316			(116,135,210	)
Reinvested capital gains		-			8,876,884			-			-			-			-			23,001,796			40,501,901

Net increase (decrease) in contract owners’ equity resulting from operations		11,435,143			(21,947,877	)		8,880			84,451			4,345,646			(7,555,431	)		32,823,377			(79,848,440	)

Equity transactions:
Purchase payments received from contract owners (note 4)		934,665			1,377,855			-			-			488,254			427,671			16,389,393			23,740,519
Transfers between funds		(3,298,185	)		(3,894,275	)		(210,430	)		151,961			(129,575	)		(2,709,419	)		4,709,560			1,083,406
Redemptions (notes 2, 3, and 4)		(11,714,717	)		(12,263,351	)		(5,287	)		-			(5,870,757	)		(5,393,305	)		(15,431,661	)		(14,182,565	)
Adjustments to maintain reserves		39,043			(18,272	)		(4	)		(9	)		26,473			7,052			(745	)		9,940

Net equity transactions		(14,039,194	)		(14,798,043	)		(215,721	)		151,952			(5,485,605	)		(7,668,001	)		5,666,547			10,651,300

Net change in contract owners’ equity		(2,604,051	)		(36,745,920	)		(206,841	)		236,403			(1,139,959	)		(15,223,432	)		38,489,924			(69,197,140	)
Contract owners’ equity at beginning of period		102,883,235			139,629,155			309,196			72,793			47,730,431			62,953,863			177,841,664			247,038,804

Contract owners’ equity at end of period	$	100,279,184			102,883,235			102,355			309,196			46,590,472			47,730,431			216,331,588			177,841,664

CHANGE IN UNITS:
Beginning units		5,834,271			6,634,744			35,819			12,683			3,658,283			4,229,804			6,957,478			6,603,501
Units purchased		100,599			260,860			-			23,591			284,750			266,644			1,467,481			1,833,593
Units redeemed		(861,881	)		(1,061,333	)		(24,282	)		(455	)		(677,375	)		(838,165	)		(1,262,980	)		(1,479,616	)

Ending units		5,072,989			5,834,271			11,537			35,819			3,265,658			3,658,283			7,161,979			6,957,478

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	WRPAP						WRPCP						WRPMAP						WRPMAV
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	655			159			86,678			57,398			1,643,178			645,146			199,335			62,430
Realized gain (loss) on investments		(162	)		(16	)		(128,196	)		(325,288	)		(2,984,238	)		(144,327	)		(464,070	)		(1,686	)
Change in unrealized gain (loss) on investments		(536	)		(3,428	)		47,170			(301,827	)		1,167,136			(9,949,015	)		52,232			(1,129,248	)
Reinvested capital gains		1,914			969			222,542			188,782			4,352,067			3,257,332			692,440			336,710

Net increase (decrease) in contract owners’ equity resulting from operations		1,871			(2,316	)		228,194			(380,935	)		4,178,143			(6,190,864	)		479,937			(731,794	)

Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			-			-			165,362			260,566			-			27,211
Transfers between funds		(405	)		248			1,418,903			(1,055,826	)		(1,997,885	)		484,009			(6,961	)		2,851
Redemptions (notes 2, 3, and 4)		-			-			(310,478	)		(311,976	)		(6,061,859	)		(2,470,026	)		(1,877,813	)		(177,347	)
Adjustments to maintain reserves		(4	)		(5	)		15			170			(26	)		1,760			2			114

Net equity transactions		(409	)		243			1,108,440			(1,367,632	)		(7,894,408	)		(1,723,691	)		(1,884,772	)		(147,171	)

Net change in contract owners’ equity		1,462			(2,073	)		1,336,634			(1,748,567	)		(3,716,265	)		(7,914,555	)		(1,404,835	)		(878,965	)
Contract owners’ equity at beginning of period		11,494			13,567			1,014,928			2,763,495			30,984,652			38,899,207			4,247,559			5,126,524

Contract owners’ equity at end of period	$	12,956			11,494			2,351,562			1,014,928			27,268,387			30,984,652			2,842,724			4,247,559

CHANGE IN UNITS:
Beginning units		579			566			55,945			130,486			1,275,749			1,342,740			270,254			279,455
Units purchased		4			15			75,946			1,116			13,846			53,835			21			1,964
Units redeemed		(24	)		(2	)		(16,123	)		(75,657	)		(321,462	)		(120,826	)		(112,371	)		(11,165	)

Ending units		559			579			115,768			55,945			968,133			1,275,749			157,904			270,254

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	WRPMCP						WRPMP						JABS						JACAS
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	167,695			112,470			819,957			373,239			452,206			(195,967	)		(1,440,117	)		(1,625,399	)
Realized gain (loss) on investments		(106,837	)		(335,032	)		(654,795	)		(451,195	)		(1,103,294	)		1,720,575			1,638,203			4,086,028
Change in unrealized gain (loss) on investments		(36,170	)		(1,001,631	)		(126,209	)		(4,632,300	)		11,032,036			(14,138,751	)		34,464,360			(75,937,307	)
Reinvested capital gains		445,883			408,665			2,143,124			1,606,760			-			1,781,945			-			19,039,616

Net increase (decrease) in contract owners’ equity resulting from operations		470,571			(815,528	)		2,182,077			(3,103,496	)		10,380,948			(10,832,198	)		34,662,446			(54,437,062	)

Equity transactions:
Purchase payments received from contract owners (note 4)		8,363			-			20,085			41,391			13,332,962			29,090,683			624,872			748,279
Transfers between funds		168			(371,659	)		105,194			120,519			10,119,439			(9,867,220	)		(4,509,411	)		1,350,360
Redemptions (notes 2, 3, and 4)		(272,035	)		(685,323	)		(2,280,308	)		(1,501,599	)		(5,392,302	)		(4,116,789	)		(11,733,068	)		(10,839,856	)
Adjustments to maintain reserves		(5	)		261			(13	)		419			(216	)		14,594			35,738			1,494

Net equity transactions		(263,509	)		(1,056,721	)		(2,155,042	)		(1,339,270	)		18,059,883			15,121,268			(15,581,869	)		(8,739,723	)

Net change in contract owners’ equity		207,062			(1,872,249	)		27,035			(4,442,766	)		28,440,831			4,289,070			19,080,577			(63,176,785	)
Contract owners’ equity at beginning of period		3,670,026			5,542,275			15,549,837			19,992,603			67,635,284			63,346,214			98,387,617			161,564,402

Contract owners’ equity at end of period	$	3,877,088			3,670,026			15,576,872			15,549,837			96,076,115			67,635,284			117,468,194			98,387,617

CHANGE IN UNITS:
Beginning units		182,279			233,945			704,932			765,393			1,936,275			1,553,302			2,172,649			2,333,749
Units purchased		388			2,340			5,462			8,969			817,788			1,331,166			151,040			215,913
Units redeemed		(12,950	)		(54,006	)		(95,390	)		(69,430	)		(337,550	)		(948,193	)		(433,287	)		(377,013	)

Ending units		169,717			182,279			615,004			704,932			2,416,513			1,936,275			1,890,402			2,172,649

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	JAFBS						JAGSEI					JAGTS						JAIGS
	2023			2022			2023			2022		2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	2,601,561			676,174			(831	)		-		(4,016,557	)		(3,413,967	)		(11,828	)		60,517
Realized gain (loss) on investments		(1,104,795	)		(1,116,992	)		(6,886	)		-		1,716,146			5,189,884			1,370,994			798,312
Change in unrealized gain (loss) on investments		2,741,566			(19,403,145	)		47,610			-		111,616,066			(170,031,094	)		1,122,034			(4,397,205	)
Reinvested capital gains		-			1,838,094			-			-		-			42,357,895			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		4,238,332			(18,005,869	)		39,893			-		109,315,655			(125,897,282	)		2,481,200			(3,538,376	)

Equity transactions:
Purchase payments received from contract owners (note 4)		12,676,584			16,637,369			377,999			-		25,150,695			26,394,619			1,053,185			337,447
Transfers between funds		6,481,892			(3,685,102	)		207,166			-		24,802,665			(10,077,719	)		(1,299,304	)		(862,088	)
Redemptions (notes 2, 3, and 4)		(8,629,413	)		(7,234,258	)		(4,276	)		-		(24,976,777	)		(18,141,435	)		(2,078,060	)		(2,970,558	)
Adjustments to maintain reserves		725			4,483			(12	)		-		(2,474	)		14,944			(424	)		9,300

Net equity transactions		10,529,788			5,722,492			580,877			-		24,974,109			(1,809,591	)		(2,324,603	)		(3,485,899	)

Net change in contract owners’ equity		14,768,120			(12,283,377	)		620,770			-		134,289,764			(127,706,873	)		156,597			(7,024,275	)
Contract owners’ equity at beginning of period		103,810,099			116,093,476			-			-		203,873,558			331,580,431			28,551,778			35,576,053

Contract owners’ equity at end of period	$	118,578,219			103,810,099			620,770			-		338,163,322			203,873,558			28,708,375			28,551,778

CHANGE IN UNITS:
Beginning units		10,929,846			10,411,631			-			-		7,795,133			7,809,725			1,175,748			1,318,051
Units purchased		2,495,392			2,512,947			72,522			-		3,103,066			2,686,638			96,417			42,969
Units redeemed		(1,443,398	)		(1,994,732	)		(16,577	)		-		(2,356,757	)		(2,701,230	)		(169,604	)		(185,272	)

Ending units		11,981,840			10,929,846			55,945			-		8,541,442			7,795,133			1,102,561			1,175,748

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	JAMGS						LZREMS						LDVS						LJPCBS
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(10,136	)		(9,674	)		57,489			38,816			7,061			15,469			552,069			-
Realized gain (loss) on investments		(8,305	)		3,122			(2,832	)		(221,602	)		(111,742	)		17,503			(88,005	)		-
Change in unrealized gain (loss) on investments		198,989			(756,809	)		231,270			(118,907	)		63,334			(246,813	)		344,371			-
Reinvested capital gains		172,393			362,651			-			-			54,044			127,979			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		352,941			(400,710	)		285,927			(301,693	)		12,697			(85,862	)		808,435			-

Equity transactions:
Purchase payments received from contract owners (note 4)		74,039			461			2,185			4,832			27,609			2,360			2,446,672			-
Transfers between funds		(42,685	)		77,223			(135,520	)		(6,823	)		(112,307	)		(719,314	)		76,058,544			-
Redemptions (notes 2, 3, and 4)		(101,334	)		(40,248	)		(161,533	)		(21,330	)		(556,284	)		(187,468	)		(1,882,343	)		-
Adjustments to maintain reserves		(53	)		(26	)		(39	)		24,850			2			(45,857	)		(85	)		-

Net equity transactions		(70,033	)		37,410			(294,907	)		1,529			(640,980	)		(950,279	)		76,622,788			-

Net change in contract owners’ equity		282,908			(363,300	)		(8,980	)		(300,164	)		(628,283	)		(1,036,141	)		77,431,223			-
Contract owners’ equity at beginning of period		2,061,053			2,424,353			1,460,763			1,760,927			1,596,079			2,632,220			-			-

Contract owners’ equity at end of period	$	2,343,961			2,061,053			1,451,783			1,460,763			967,796			1,596,079			77,431,223			-

CHANGE IN UNITS:
Beginning units		68,443			67,197			157,856			159,967			152,890			242,107			-			-
Units purchased		3,994			6,656			1,222			13,954			15,655			6,108			8,170,845			-
Units redeemed		(5,850	)		(5,410	)		(29,946	)		(16,065	)		(78,226	)		(95,325	)		(503,538	)		-

Ending units		66,587			68,443			129,132			157,856			90,319			152,890			7,667,307			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	LJPMVS					LOVSDC						LOVTRC						MNCPS2
	2023			2022		2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	83,491			-		89,593			31,440			3,643,708			1,970,552			3,654			9,133
Realized gain (loss) on investments		19,709			-		(22,933	)		(19,365	)		(577,099	)		(873,825	)		(9,033	)		1,009
Change in unrealized gain (loss) on investments		752,944			-		13,324			(80,331	)		2,209,627			(16,542,565	)		33,640			(126,295	)
Reinvested capital gains		-			-		-			-			-			197,098			-			48,387

Net increase (decrease) in contract owners’ equity resulting from operations		856,144			-		79,984			(68,256	)		5,276,236			(15,248,740	)		28,261			(67,766	)

Equity transactions:
Purchase payments received from contract owners (note 4)		37,630			-		356,775			301,223			18,574,252			19,015,082			1,975			2,527
Transfers between funds		8,800,207			-		558,145			(158,918	)		9,141,159			(2,860,358	)		3,339			(1,917	)
Redemptions (notes 2, 3, and 4)		(663,385	)		-		(58,885	)		(26,493	)		(7,187,712	)		(4,817,655	)		(42,770	)		(12,989	)
Adjustments to maintain reserves		(142	)		-		(23	)		(7	)		(319	)		(866	)		(20	)		1,319

Net equity transactions		8,174,310			-		856,012			115,805			20,527,380			11,336,203			(37,476	)		(11,060	)

Net change in contract owners’ equity		9,030,454			-		935,996			47,549			25,803,616			(3,912,537	)		(9,215	)		(78,826	)
Contract owners’ equity at beginning of period		-			-		1,376,186			1,328,637			91,691,621			95,604,158			410,578			489,404

Contract owners’ equity at end of period	$	9,030,454			-		2,312,182			1,376,186			117,495,237			91,691,621			401,363			410,578

CHANGE IN UNITS:
Beginning units		-			-		136,284			123,878			9,694,409			8,596,904			30,432			31,240
Units purchased		928,150			-		141,553			47,159			3,219,220			2,477,951			469			381
Units redeemed		(109,475	)		-		(58,693	)		(34,753	)		(1,107,932	)		(1,380,446	)		(3,104	)		(1,189	)

Ending units		818,675			-		219,144			136,284			11,805,697			9,694,409			27,797			30,432

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	M2IGSS						M3GRES						MEGSS					MMCGSC
	2023			2022			2023			2022			2023			2022		2023			2022
*Investment activity:**
Net investment income (loss)	$	(81,635	)		(92,591	)		(1,726	)		(252	)		(13,101	)		-		(41,309	)		(8,671	)
Realized gain (loss) on investments		(110,289	)		883,692			(11,719	)		(13,388	)		676			-		(42,470	)		(42,333	)
Change in unrealized gain (loss) on investments		1,010,954			(3,221,375	)		25,429			(61,149	)		242,078			-		850,370			(221,022	)
Reinvested capital gains		295,558			865,568			12,714			12,417			156,843			-		76,362			195,495

Net increase (decrease) in contract owners’ equity resulting from operations		1,114,588			(1,564,706	)		24,698			(62,372	)		386,496			-		842,953			(76,531	)

Equity transactions:
Purchase payments received from contract owners (note 4)		25,900			28,006			30,110			83,530			4,085,756			-		2,922,293			2,896,052
Transfers between funds		(158,620	)		(97,374	)		8,440			24,637			(69,571	)		-		(120,299	)		18,471
Redemptions (notes 2, 3, and 4)		(481,147	)		(576,719	)		(1,954	)		(164	)		(14,772	)		-		(117,191	)		(39,885	)
Adjustments to maintain reserves		(94	)		7,699			(19	)		1,258			(2	)		-		(9	)		349

Net equity transactions		(613,961	)		(638,388	)		36,577			109,261			4,001,411			-		2,684,794			2,874,987

Net change in contract owners’ equity		500,627			(2,203,094	)		61,275			46,889			4,387,907			-		3,527,747			2,798,456
Contract owners’ equity at beginning of period		5,428,194			7,631,288			196,400			149,511			-			-		2,798,456			-

Contract owners’ equity at end of period	$	5,928,821			5,428,194			257,675			196,400			4,387,907			-		6,326,203			2,798,456

CHANGE IN UNITS:
Beginning units		263,377			294,019			23,573			12,912			-			-		353,494			-
Units purchased		8,588			16,523			5,351			10,854			381,400			-		353,338			365,920
Units redeemed		(36,167	)		(47,165	)		(745	)		(193	)		(15,124	)		-		(40,221	)		(12,426	)

Ending units		235,798			263,377			28,179			23,573			366,276			-		666,611			353,494

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	MNDSC						MV2RIS						MV3LMS					MV3MVS
	2023			2022			2023			2022			2023			2022		2023			2022
*Investment activity:**
Net investment income (loss)	$	(1,196,214	)		(1,233,942	)		(99,167	)		77,825			5,139			-		90,727			(186,780	)
Realized gain (loss) on investments		(4,349,304	)		(28,362,215	)		(56,601	)		(2,198,935	)		(261	)		-		(611,259	)		(21,990	)
Change in unrealized gain (loss) on investments		15,793,082			(36,240,074	)		2,521,541			(965,957	)		57,733			-		3,776,595			(6,853,657	)
Reinvested capital gains		-			30,960,163			-			400,197			-			-		1,445,309			3,034,021

Net increase (decrease) in contract owners’ equity resulting from operations		10,247,564			(34,876,068	)		2,365,773			(2,686,870	)		62,611			-		4,701,372			(4,028,406	)

Equity transactions:
Purchase payments received from contract owners (note 4)		6,309,613			9,833,980			5,578,087			7,165,358			1,993,670			-		9,072,894			14,522,558
Transfers between funds		(899,206	)		1,025,294			(668,301	)		3,893,666			571,580			-		(1,858,743	)		(779,946	)
Redemptions (notes 2, 3, and 4)		(5,332,428	)		(5,328,307	)		(1,053,677	)		(748,860	)		(10,113	)		-		(2,831,003	)		(1,786,288	)
Adjustments to maintain reserves		3,093			(202,960	)		(159	)		55,761			(11	)		-		(205	)		463,616

Net equity transactions		81,072			5,328,007			3,855,950			10,365,925			2,555,126			-		4,382,943			12,419,940

Net change in contract owners’ equity		10,328,636			(29,548,061	)		6,221,723			7,679,055			2,617,737			-		9,084,315			8,391,534
Contract owners’ equity at beginning of period		79,696,976			109,245,037			19,763,378			12,084,323			-			-		39,293,768			30,902,234

Contract owners’ equity at end of period	$	90,025,612			79,696,976			25,985,101			19,763,378			2,617,737			-		48,378,083			39,293,768

CHANGE IN UNITS:
Beginning units		3,563,304			3,384,039			1,665,028			826,980			-			-		2,497,335			1,765,410
Units purchased		546,802			988,398			599,563			1,002,366			271,080			-		842,026			1,328,885
Units redeemed		(545,557	)		(809,133	)		(302,393	)		(164,318	)		(16,568	)		-		(571,149	)		(596,960	)

Ending units		3,564,549			3,563,304			1,962,198			1,665,028			254,512			-		2,768,212			2,497,335

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	MVBDS					MVBRES						MVFSC						MVIGSC
	2023			2022		2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	58,229			-		774			(602	)		(236,766	)		(1,303,975	)		(196,245	)		(361,036	)
Realized gain (loss) on investments		(103	)		-		(17,954	)		(2,113	)		(3,855,866	)		66,547,873			(215,134	)		(4,015,336	)
Change in unrealized gain (loss) on investments		145,092			-		136,106			(278,807	)		(229,624	)		(123,942,963	)		4,347,232			(4,626,523	)
Reinvested capital gains		-			-		57,075			130,521			24,926,555			22,950,740			1,517,741			2,249,758

Net increase (decrease) in contract owners’ equity resulting from operations		203,218			-		176,001			(151,001	)		20,604,299			(35,748,325	)		5,453,594			(6,753,137	)

Equity transactions:
Purchase payments received from contract owners (note 4)		3,652,230			-		-			-			13,291,640			22,182,816			8,430,341			8,732,920
Transfers between funds		80,519			-		(47,958	)		(25,524	)		(10,647,547	)		(23,398,743	)		2,131,108			(868,545	)
Redemptions (notes 2, 3, and 4)		(13,994	)		-		(51,624	)		(49,647	)		(33,490,127	)		(32,167,470	)		(2,006,293	)		(1,998,481	)
Adjustments to maintain reserves		(5	)		-		(21	)		3,783			19,810			2,871,736			(247	)		70,746

Net equity transactions		3,718,750			-		(99,603	)		(71,388	)		(30,826,224	)		(30,511,661	)		8,554,909			5,936,640

Net change in contract owners’ equity		3,921,968			-		76,398			(222,389	)		(10,221,925	)		(66,259,986	)		14,008,503			(816,497	)
Contract owners’ equity at beginning of period		-			-		698,092			920,481			370,323,332			436,583,318			40,625,781			41,442,278

Contract owners’ equity at end of period	$	3,921,968			-		774,490			698,092			360,101,407			370,323,332			54,634,284			40,625,781

CHANGE IN UNITS:
Beginning units		-			-		54,208			59,324			8,463,255			9,146,361			3,650,745			3,116,725
Units purchased		383,354			-		236			1,441			771,736			922,065			1,286,871			1,087,741
Units redeemed		(7,628	)		-		(7,068	)		(6,557	)		(1,387,017	)		(1,605,171	)		(586,608	)		(553,721	)

Ending units		375,726			-		47,376			54,208			7,847,974			8,463,255			4,351,008			3,650,745

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	MVIPSC					MVIVSC						MVRBSS						MVUSC
	2023			2022		2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	28,714			-		(2,718,499	)		(2,719,433	)		38,017			21,578			9,538			5,477
Realized gain (loss) on investments		(5,985	)		-		(2,237,448	)		41,917,105			(23,402	)		(232,090	)		(18,800	)		36,925
Change in unrealized gain (loss) on investments		78,511			-		24,178,972			(139,824,262	)		90,244			(93,956	)		(20,034	)		(51,115	)
Reinvested capital gains		-			-		20,073,420			12,476,829			-			18,819			18,920			12,753

Net increase (decrease) in contract owners’ equity resulting from operations		101,240			-		39,296,445			(88,149,761	)		104,859			(285,649	)		(10,376	)		4,040

Equity transactions:
Purchase payments received from contract owners (note 4)		2,038,459			-		9,842,323			13,081,359			551,599			290,121			-			-
Transfers between funds		50,576			-		(16,795,292	)		7,692,536			77,783			(22,048	)		(63,016	)		123,081
Redemptions (notes 2, 3, and 4)		(4,137	)		-		(26,073,549	)		(22,000,724	)		(265,818	)		(167,277	)		(8,000	)		(12,971	)
Adjustments to maintain reserves		(4	)		-		18,568			372,805			(27	)		2,879			(6	)		1,981

Net equity transactions		2,084,894			-		(33,007,950	)		(854,024	)		363,537			103,675			(71,022	)		112,091

Net change in contract owners’ equity		2,186,134			-		6,288,495			(89,003,785	)		468,396			(181,974	)		(81,398	)		116,131
Contract owners’ equity at beginning of period		-			-		266,822,719			355,826,504			1,589,455			1,771,429			344,136			228,005

Contract owners’ equity at end of period	$	2,186,134			-		273,111,214			266,822,719			2,057,851			1,589,455			262,738			344,136

CHANGE IN UNITS:
Beginning units		-			-		12,581,737			12,612,797			182,295			172,528			18,459			12,275
Units purchased		211,807			-		1,112,178			2,069,604			106,339			61,818			1,445			8,494
Units redeemed		(551	)		-		(2,566,323	)		(2,100,664	)		(66,091	)		(52,051	)		(5,325	)		(2,310	)

Ending units		211,256			-		11,127,592			12,581,737			222,543			182,295			14,579			18,459

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	MGRFV						MSEM						MSEMB						MSGI2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(142	)		531			49,965			49,341			32,638			28,873			152,773			220,641
Realized gain (loss) on investments		853			(96	)		(54,928	)		(60,389	)		(73,612	)		(6,269	)		(254,429	)		(906,672	)
Change in unrealized gain (loss) on investments		34			(115	)		70,546			(187,272	)		77,145			(124,471	)		(2,073,414	)		(2,134,317	)
Reinvested capital gains		-			-			-			-			-			-			2,667,253			1,122,011

Net increase (decrease) in contract owners’ equity resulting from operations		745			320			65,583			(198,320	)		36,171			(101,867	)		492,183			(1,698,337	)

Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			-			-			-			-			1,184,238			2,607,766
Transfers between funds		(39,829	)		38,927			(35,257	)		(5,170	)		(8,754	)		19,554			(62,175	)		(819,671	)
Redemptions (notes 2, 3, and 4)		(5,070	)		-			(45,839	)		(100,992	)		(119,767	)		(4,032	)		(1,210,825	)		(1,117,238	)
Adjustments to maintain reserves		(2	)		(186	)		2			53			(41	)		(67	)		10,516			(15,092	)

Net equity transactions		(44,901	)		38,741			(81,094	)		(106,109	)		(128,562	)		15,455			(78,246	)		655,765

Net change in contract owners’ equity		(44,156	)		39,061			(15,511	)		(304,429	)		(92,391	)		(86,412	)		413,937			(1,042,572	)
Contract owners’ equity at beginning of period		44,156			5,095			694,710			999,139			436,631			523,043			18,859,550			19,902,122

Contract owners’ equity at end of period	$	-			44,156			679,199			694,710			344,240			436,631			19,273,487			18,859,550

CHANGE IN UNITS:
Beginning units		3,571			414			27,753			32,027			32,877			30,767			1,615,760			1,540,627
Units purchased		-			3,157			-			-			375			2,915			316,564			2,364,628
Units redeemed		(3,571	)		-			(3,140	)		(4,274	)		(12,919	)		(805	)		(326,280	)		(2,289,495	)

Ending units		-			3,571			24,613			27,753			20,333			32,877			1,606,044			1,615,760

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	MSVEG2						MSVRE						MSVREB						VKVGR2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(498,251	)		(306,755	)		21			(44	)		5			(4	)		1,588			7,494
Realized gain (loss) on investments		1,790,462			(33,763,644	)		(1,281	)		366			(67	)		(74	)		(3,600	)		(4,213	)
Change in unrealized gain (loss) on investments		11,833,315			(1,171,132	)		2,120			(6,657	)		117			(303	)		20,575			(85,000	)
Reinvested capital gains		-			15,459,345			-			2,021			-			168			-			8,862

Net increase (decrease) in contract owners’ equity resulting from operations		13,125,526			(19,782,186	)		860			(4,314	)		55			(213	)		18,563			(72,857	)

Equity transactions:
Purchase payments received from contract owners (note 4)		5,066,641			7,850,065			-			4,189			-			-			-			531
Transfers between funds		6,192,875			10,102,353			-			3,013			-			-			4,428			(11,842	)
Redemptions (notes 2, 3, and 4)		(2,647,692	)		(930,794	)		(1,979	)		(9,517	)		(188	)		(445	)		(4,739	)		(3,355	)
Adjustments to maintain reserves		(229	)		(39,131	)		2,322			(3,232	)		(587	)		578			(11	)		3

Net equity transactions		8,611,595			16,982,493			343			(5,547	)		(775	)		133			(322	)		(14,663	)

Net change in contract owners’ equity		21,737,121			(2,799,693	)		1,203			(9,861	)		(720	)		(80	)		18,241			(87,520	)
Contract owners’ equity at beginning of period		20,786,027			23,585,720			8,594			18,455			720			800			199,121			286,641

Contract owners’ equity at end of period	$	42,523,148			20,786,027			9,797			8,594			-			720			217,362			199,121

CHANGE IN UNITS:
Beginning units		5,422,532			2,417,344			-			-			-			-			21,999			23,085
Units purchased		9,505,161			5,868,489			-			-			-			-			517			1,047
Units redeemed		(7,339,508	)		(2,863,301	)		-			-			-			-			(564	)		(2,133	)

Ending units		7,588,185			5,422,532			-			-			-			-			21,952			21,999

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	DTRTFB						EIF						EIF2						GBF
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	534,157			345,930			66,069			52,816			1,174,803			(434,969	)		1,473,618			682,859
Realized gain (loss) on investments		(715,448	)		(650,874	)		86,749			93,649			4,133,847			13,438,298			(3,793,107	)		(3,480,368	)
Change in unrealized gain (loss) on investments		1,218,712			(3,120,026	)		(6,757	)		(927,693	)		1,875,405			(79,736,774	)		6,047,208			(20,631,620	)
Reinvested capital gains		-			-			391,633			524,842			34,848,364			43,054,023			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		1,037,421			(3,424,970	)		537,694			(256,386	)		42,032,419			(23,679,422	)		3,727,719			(23,429,129	)

Equity transactions:
Purchase payments received from contract owners (note 4)		5,298,560			6,494,913			4,594			550,658			26,416,548			43,960,089			773,820			3,581,686
Transfers between funds		1,804,485			(501,073	)		(496,754	)		(559,090	)		(18,148,495	)		(23,246,151	)		4,358,601			(9,593,032	)
Redemptions (notes 2, 3, and 4)		(1,252,403	)		(731,518	)		(233,451	)		(77,932	)		(30,412,702	)		(24,118,900	)		(15,024,632	)		(16,913,018	)
Adjustments to maintain reserves		(188	)		(256	)		-			(51	)		23,887			(50,834	)		44,708			95,226

Net equity transactions		5,850,454			5,262,066			(725,611	)		(86,415	)		(22,120,762	)		(3,455,796	)		(9,847,503	)		(22,829,138	)

Net change in contract owners’ equity		6,887,875			1,837,096			(187,917	)		(342,801	)		19,911,657			(27,135,218	)		(6,119,784	)		(46,258,267	)
Contract owners’ equity at beginning of period		21,550,869			19,713,773			5,179,764			5,522,565			422,749,082			449,884,300			129,357,446			175,615,713

Contract owners’ equity at end of period	$	28,438,744			21,550,869			4,991,847			5,179,764			442,660,739			422,749,082			123,237,662			129,357,446

CHANGE IN UNITS:
Beginning units		2,363,053			1,852,314			224,661			228,554			10,501,212			10,467,255			8,343,542			9,781,904
Units purchased		1,101,764			1,136,379			3,398			31,446			1,066,325			1,886,435			921,328			760,189
Units redeemed		(473,807	)		(625,640	)		(33,908	)		(35,339	)		(1,555,174	)		(1,852,478	)		(1,568,852	)		(2,198,551	)

Ending units		2,991,010			2,363,053			194,151			224,661			10,012,363			10,501,212			7,696,018			8,343,542

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	GBF2						GEM						GEM2						GIG
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	3,350			1,738			20,989			(20,010	)		(44,571	)		(689,031	)		161,822			281,987
Realized gain (loss) on investments		(4,865	)		(49,649	)		(61,863	)		64,978			(487,687	)		898,632			(143,887	)		4,950
Change in unrealized gain (loss) on investments		12,197			(12,293	)		186,551			(1,956,539	)		2,019,728			(25,156,414	)		2,082,614			(3,864,011	)
Reinvested capital gains		-			-			-			-			-			-			-			1,457,167

Net increase (decrease) in contract owners’ equity resulting from operations		10,682			(60,204	)		145,677			(1,911,571	)		1,487,470			(24,946,813	)		2,100,549			(2,119,907	)

Equity transactions:
Purchase payments received from contract owners (note 4)		-			3,985			139,669			364,048			2,184,936			3,417,266			40,884			20,771
Transfers between funds		26,309			(89,216	)		(159,538	)		(55,480	)		820,364			977,426			(254,985	)		(280,628	)
Redemptions (notes 2, 3, and 4)		(121,076	)		(6,282	)		(648,628	)		(377,697	)		(5,205,782	)		(5,553,662	)		(1,396,596	)		(745,262	)
Adjustments to maintain reserves		(10	)		453			2,388			11,526			35,196			2,170			(2,747	)		16,417

Net equity transactions		(94,777	)		(91,060	)		(666,109	)		(57,603	)		(2,165,286	)		(1,156,800	)		(1,613,444	)		(988,702	)

Net change in contract owners’ equity		(84,095	)		(151,264	)		(520,432	)		(1,969,174	)		(677,816	)		(26,103,613	)		487,105			(3,108,609	)
Contract owners’ equity at beginning of period		328,849			480,113			5,267,762			7,236,936			69,295,687			95,399,300			11,046,785			14,155,394

Contract owners’ equity at end of period	$	244,754			328,849			4,747,330			5,267,762			68,617,871			69,295,687			11,533,890			11,046,785

CHANGE IN UNITS:
Beginning units		39,461			49,757			299,473			304,251			2,644,559			2,689,124			684,016			743,635
Units purchased		3,121			2,793			24,449			32,253			266,627			417,252			26,236			5,843
Units redeemed		(14,165	)		(13,089	)		(62,626	)		(37,031	)		(352,721	)		(461,817	)		(115,673	)		(65,462	)

Ending units		28,417			39,461			261,296			299,473			2,558,465			2,644,559			594,579			684,016

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	GVAAA2						GVABD2						GVAGG2						GVAGI2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(85,183,407	)		(92,827,489	)		(45,200,096	)		(48,954,662	)		(5,969,979	)		(6,075,357	)		(51,287,147	)		(52,876,289	)
Realized gain (loss) on investments		208,365,647			212,138,337			(27,444,861	)		(21,034,737	)		3,517,952			3,163,845			47,550,971			9,691,179
Change in unrealized gain (loss) on investments		(53,032,439	)		(1,468,774,296	)		171,874,083			(554,152,926	)		38,099,462			(160,563,611	)		465,344,542			(826,715,455	)
Reinvested capital gains		609,421,905			242,239,973			-			69,153,913			41,488,331			24,846,224			329,461,438			91,882,647

Net increase (decrease) in contract owners’ equity resulting from operations		679,571,706			(1,107,223,475	)		99,229,126			(554,988,412	)		77,135,766			(138,628,899	)		791,069,804			(778,017,918	)

Equity transactions:
Purchase payments received from contract owners (note 4)		150,707,363			200,053,517			101,452,283			129,327,739			30,734,821			27,717,103			161,642,037			214,618,507
Transfers between funds		(106,097,760	)		(80,917,819	)		318,042,063			(92,583,769	)		(17,008,037	)		10,865,349			(311,512,148	)		14,189,999
Redemptions (notes 2, 3, and 4)		(646,745,792	)		(568,846,005	)		(339,410,172	)		(269,151,653	)		(34,339,104	)		(33,189,412	)		(369,951,761	)		(293,100,518	)
Adjustments to maintain reserves		57,418			(62,702	)		112,837			56,873			3,317			(5,708	)		(34,702	)		9,315

Net equity transactions		(602,078,771	)		(449,773,009	)		80,197,011			(232,350,810	)		(20,609,003	)		5,387,332			(519,856,574	)		(64,282,697	)

Net change in contract owners’ equity		77,492,935			(1,556,996,484	)		179,426,137			(787,339,222	)		56,526,763			(133,241,567	)		271,213,230			(842,300,615	)
Contract owners’ equity at beginning of period		5,955,781,315			7,512,777,799			3,164,362,016			3,951,701,238			393,257,838			526,499,405			3,581,136,706			4,423,437,321

Contract owners’ equity at end of period	$	6,033,274,250			5,955,781,315			3,343,788,153			3,164,362,016			449,784,601			393,257,838			3,852,349,936			3,581,136,706

CHANGE IN UNITS:
Beginning units		284,753,145			305,685,329			281,102,346			302,194,849			15,032,568			14,886,721			153,188,097			155,446,323
Units purchased		11,098,086			14,298,466			43,717,545			25,154,697			1,598,498			2,310,715			8,366,320			17,007,758
Units redeemed		(38,973,261	)		(35,230,650	)		(37,011,632	)		(46,247,200	)		(2,318,804	)		(2,164,868	)		(28,817,512	)		(19,265,984	)

Ending units		256,877,970			284,753,145			287,808,259			281,102,346			14,312,262			15,032,568			132,736,905			153,188,097

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	GVAGR2						GVDMA						GVDMC						GVEX1
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(17,488,349	)		(16,326,312	)		(7,911,364	)		(8,619,231	)		(6,976,059	)		(8,033,547	)		7,144			4,817
Realized gain (loss) on investments		29,097,595			22,012,815			(20,201,096	)		8,719,345			(21,010,443	)		(3,492,961	)		(220,260	)		158,796
Change in unrealized gain (loss) on investments		224,330,340			(590,017,041	)		103,976,835			(330,839,388	)		71,922,333			(184,644,763	)		478,355			(1,042,731	)
Reinvested capital gains		142,410,563			140,425,586			5,786,699			193,455,472			-			96,479,556			1,509			680,982

Net increase (decrease) in contract owners’ equity resulting from operations		378,350,149			(443,904,952	)		81,651,074			(137,283,802	)		43,935,831			(99,691,715	)		266,748			(198,136	)

Equity transactions:
Purchase payments received from contract owners (note 4)		142,648,725			184,495,362			13,236,724			19,123,101			6,329,918			8,217,137			20,765			41,298
Transfers between funds		(36,050,182	)		(38,296,070	)		(13,302,648	)		(15,688,802	)		(7,653,698	)		(12,603,161	)		88,909			(20,468	)
Redemptions (notes 2, 3, and 4)		(94,282,030	)		(85,801,502	)		(58,169,032	)		(51,333,578	)		(64,008,284	)		(62,224,863	)		(6,709	)		(3,594	)
Adjustments to maintain reserves		17,988			5,370			1,955			45,311			67,833			(19,219	)		(4	)		(38,669	)

Net equity transactions		12,334,501			60,403,160			(58,233,001	)		(47,853,968	)		(65,264,231	)		(66,630,106	)		102,961			(21,433	)

Net change in contract owners’ equity		390,684,650			(383,501,792	)		23,418,073			(185,137,770	)		(21,328,400	)		(166,321,821	)		369,709			(219,569	)
Contract owners’ equity at beginning of period		1,036,455,239			1,419,957,031			532,211,125			717,348,895			491,362,869			657,684,690			1,009,394			1,228,963

Contract owners’ equity at end of period	$	1,427,139,889			1,036,455,239			555,629,198			532,211,125			470,034,469			491,362,869			1,379,103			1,009,394

CHANGE IN UNITS:
Beginning units		32,188,415			30,419,590			18,917,182			20,474,930			27,042,809			30,541,468			73,330			72,347
Units purchased		6,147,381			7,509,025			717,152			985,090			743,371			1,136,878			14,409			8,573
Units redeemed		(5,787,849	)		(5,740,200	)		(2,614,592	)		(2,542,838	)		(4,208,773	)		(4,635,537	)		(7,558	)		(7,590	)

Ending units		32,547,947			32,188,415			17,019,742			18,917,182			23,577,407			27,042,809			80,181			73,330

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	GVEX2						GVIDA						GVIDC						GVIDM
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(5,981,956	)		(7,161,068	)		(2,885,695	)		(2,934,404	)		(6,240,356	)		(7,224,831	)		(21,930,906	)		(24,574,424	)
Realized gain (loss) on investments		(98,825,123	)		16,118,539			(6,588,709	)		(1,966,392	)		(11,305,909	)		(4,797,720	)		(70,579,105	)		5,611,344
Change in unrealized gain (loss) on investments		498,141,596			(1,517,455,956	)		38,470,996			(92,984,007	)		44,019,277			(97,828,039	)		274,558,259			(813,906,864	)
Reinvested capital gains		2,371,855			1,126,258,889			2,187,841			52,081,990			-			35,213,570			-			484,943,883

Net increase (decrease) in contract owners’ equity resulting from operations		395,706,372			(382,239,596	)		31,184,433			(45,802,813	)		26,473,012			(74,637,020	)		182,048,248			(347,926,061	)

Equity transactions:
Purchase payments received from contract owners (note 4)		193,513,398			232,788,397			9,484,235			21,007,094			7,152,852			6,567,407			25,401,392			33,732,702
Transfers between funds		(3,012,138	)		(23,604,923	)		(5,644,921	)		(8,259,567	)		25,860,897			30,546,370			(35,011,582	)		(28,643,481	)
Redemptions (notes 2, 3, and 4)		(180,219,090	)		(92,367,364	)		(14,021,238	)		(13,122,354	)		(97,960,489	)		(89,990,576	)		(167,484,257	)		(170,505,551	)
Adjustments to maintain reserves		418			(50,989	)		4,474			2,089			39,176			(28,242	)		70,709			7,618

Net equity transactions		10,282,588			116,765,121			(10,177,450	)		(372,738	)		(64,907,564	)		(52,905,041	)		(177,023,738	)		(165,408,712	)

Net change in contract owners’ equity		405,988,960			(265,474,475	)		21,006,983			(46,175,551	)		(38,434,552	)		(127,542,061	)		5,024,510			(513,334,773	)
Contract owners’ equity at beginning of period		1,651,508,540			1,916,983,015			181,665,104			227,840,655			447,183,991			574,726,052			1,490,102,284			2,003,437,057

Contract owners’ equity at end of period	$	2,057,497,500			1,651,508,540			202,672,087			181,665,104			408,749,439			447,183,991			1,495,126,794			1,490,102,284

CHANGE IN UNITS:
Beginning units		68,530,657			63,920,248			6,136,684			6,084,448			31,309,029			34,836,218			66,635,680			73,533,531
Units purchased		11,804,448			13,778,994			407,175			860,966			4,095,495			5,685,342			1,496,808			2,246,440
Units redeemed		(11,538,727	)		(9,168,585	)		(725,339	)		(808,730	)		(8,518,171	)		(9,212,531	)		(8,960,361	)		(9,144,291	)

Ending units		68,796,378			68,530,657			5,818,520			6,136,684			26,886,353			31,309,029			59,172,127			66,635,680

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	GVIX2						GVIX8						HIBF						IDPG2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	109,723			184,574			1,137,610			2,975,613			1,756,780			1,594,907			(13,343,844	)		(14,629,687	)
Realized gain (loss) on investments		130,755			26,462			1,362,954			222,280			(1,131,546	)		(1,430,222	)		(14,549,416	)		1,234,256
Change in unrealized gain (loss) on investments		775,275			(1,120,873	)		17,883,857			(26,611,858	)		3,759,385			(8,032,804	)		130,422,239			(354,130,232	)
Reinvested capital gains		-			-			-			-			-			-			-			174,421,346

Net increase (decrease) in contract owners’ equity resulting from operations		1,015,753			(909,837	)		20,384,421			(23,413,965	)		4,384,619			(7,868,119	)		102,528,979			(193,104,317	)

Equity transactions:
Purchase payments received from contract owners (note 4)		502,054			346,337			13,415,738			14,076,408			1,430,128			3,877,472			18,507,418			26,892,464
Transfers between funds		(74,503	)		1,084,550			(7,178,600	)		3,807,388			(693,691	)		(4,636,486	)		(7,736,746	)		(6,086,853	)
Redemptions (notes 2, 3, and 4)		(154,104	)		(45,331	)		(11,960,688	)		(8,026,570	)		(3,910,763	)		(5,499,335	)		(96,276,538	)		(77,940,473	)
Adjustments to maintain reserves		(35	)		(205	)		(414	)		16,815			4,098			12,656			(379	)		13,746

Net equity transactions		273,412			1,385,351			(5,723,964	)		9,874,041			(3,170,228	)		(6,245,693	)		(85,506,245	)		(57,121,116	)

Net change in contract owners’ equity		1,289,165			475,514			14,660,457			(13,539,924	)		1,214,391			(14,113,812	)		17,022,734			(250,225,433	)
Contract owners’ equity at beginning of period		6,128,624			5,653,110			136,092,478			149,632,402			39,700,410			53,814,222			951,239,371			1,201,464,804

Contract owners’ equity at end of period	$	7,417,789			6,128,624			150,752,935			136,092,478			40,914,801			39,700,410			968,262,105			951,239,371

CHANGE IN UNITS:
Beginning units		479,816			373,545			12,157,625			11,283,499			1,726,000			2,029,175			75,192,744			79,500,071
Units purchased		79,631			116,511			1,720,049			2,209,973			321,564			1,210,463			2,726,024			3,742,767
Units redeemed		(60,568	)		(10,240	)		(2,242,703	)		(1,335,847	)		(448,517	)		(1,513,638	)		(9,236,337	)		(8,050,094	)

Ending units		498,879			479,816			11,634,971			12,157,625			1,599,047			1,726,000			68,682,431			75,192,744

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	IDPGI2						MCIF						MCIF2						MSBF
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(5,528,406	)		(6,005,739	)		(659,947	)		(871,701	)		(2,083	)		(4,474	)		7,650,299			3,698,604
Realized gain (loss) on investments		(4,908,988	)		(1,486,237	)		(12,335,920	)		(3,472,211	)		(28,000	)		43,605			(2,988,554	)		(892,134	)
Change in unrealized gain (loss) on investments		49,938,961			(110,887,362	)		44,258,387			(152,246,264	)		336,937			(1,370,346	)		(2,024,079	)		(10,851,247	)
Reinvested capital gains		-			44,393,815			19,671,977			96,906,658			184,563			846,850			9,867,656			-

Net increase (decrease) in contract owners’ equity resulting from operations		39,501,567			(73,985,523	)		50,934,497			(59,683,518	)		491,417			(484,365	)		12,505,322			(8,044,777	)

Equity transactions:
Purchase payments received from contract owners (note 4)		13,187,797			15,713,995			30,859,210			36,817,631			331,020			627,798			5,672,099			1,212,686
Transfers between funds		(2,533,721	)		(3,811,860	)		(10,384,145	)		(13,909,223	)		(37,357	)		(185,597	)		10,667,063			(19,580,844	)
Redemptions (notes 2, 3, and 4)		(39,787,822	)		(36,132,886	)		(31,694,538	)		(20,298,216	)		(21,383	)		(21,631	)		(21,506,861	)		(18,554,260	)
Adjustments to maintain reserves		(99	)		3,048			12,956			(61,796	)		2,341			41,474			1,098			8,431

Net equity transactions		(29,133,845	)		(24,227,703	)		(11,206,517	)		2,548,396			274,621			462,044			(5,166,601	)		(36,913,987	)

Net change in contract owners’ equity		10,367,722			(98,213,226	)		39,727,980			(57,135,122	)		766,038			(22,321	)		7,338,721			(44,958,764	)
Contract owners’ equity at beginning of period		391,467,240			489,680,466			363,589,143			420,724,265			3,191,947			3,214,268			173,903,047			218,861,811

Contract owners’ equity at end of period	$	401,834,962			391,467,240			403,317,123			363,589,143			3,957,985			3,191,947			181,241,768			173,903,047

CHANGE IN UNITS:
Beginning units		33,935,314			35,957,659			7,397,637			7,270,935			233,358			203,283			9,566,554			11,592,574
Units purchased		1,825,697			2,077,370			1,147,916			1,457,077			42,633			67,757			2,042,473			802,928
Units redeemed		(4,281,760	)		(4,099,715	)		(1,301,535	)		(1,330,375	)		(22,971	)		(37,682	)		(2,338,556	)		(2,828,948	)

Ending units		31,479,251			33,935,314			7,244,018			7,397,637			253,020			233,358			9,270,471			9,566,554

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NAMAA2						NAMGI2						NCPG2						NCPGI2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(33,285,345	)		(35,204,800	)		(8,887,822	)		(8,687,741	)		(15,730,090	)		(17,445,658	)		(6,806,156	)		(7,442,524	)
Realized gain (loss) on investments		(19,955,905	)		11,094,136			21,200,603			8,497,848			3,376,280			7,515,446			(217,016	)		(221,681	)
Change in unrealized gain (loss) on investments		207,997,587			(1,008,311,999	)		79,119,210			(121,467,015	)		108,427,209			(218,498,192	)		56,771,502			(80,863,797	)
Reinvested capital gains		197,806,916			584,678,926			46,769,497			-			18,645,012			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		352,563,253			(447,743,737	)		138,201,488			(121,656,908	)		114,718,411			(228,428,404	)		49,748,330			(88,528,002	)

Equity transactions:
Purchase payments received from contract owners (note 4)		76,195,934			123,569,045			33,756,076			62,201,532			28,631,562			31,730,665			14,267,532			17,820,917
Transfers between funds		(20,742,744	)		(15,519,799	)		(31,553,696	)		(4,440,317	)		(7,098,413	)		(7,120,525	)		(5,419,840	)		(4,023,135	)
Redemptions (notes 2, 3, and 4)		(273,960,796	)		(190,041,119	)		(52,664,155	)		(33,135,205	)		(105,204,882	)		(102,082,034	)		(47,481,287	)		(45,576,819	)
Adjustments to maintain reserves		(776	)		17,371			958			233			(3,350	)		8,926			442			6,582

Net equity transactions		(218,508,382	)		(81,974,502	)		(50,460,817	)		24,626,243			(83,675,083	)		(77,462,968	)		(38,633,153	)		(31,772,455	)

Net change in contract owners’ equity		134,054,871			(529,718,239	)		87,740,671			(97,030,665	)		31,043,328			(305,891,372	)		11,115,177			(120,300,457	)
Contract owners’ equity at beginning of period		2,380,848,717			2,910,566,956			640,232,210			737,262,875			1,110,826,093			1,416,717,465			479,132,933			599,433,390

Contract owners’ equity at end of period	$	2,514,903,588			2,380,848,717			727,972,881			640,232,210			1,141,869,421			1,110,826,093			490,248,110			479,132,933

CHANGE IN UNITS:
Beginning units		183,113,418			189,340,615			39,789,707			38,256,023			85,114,271			90,803,864			40,264,988			42,838,012
Units purchased		9,285,574			11,946,157			2,983,412			5,275,025			3,481,316			4,735,616			1,762,406			2,579,758
Units redeemed		(25,287,667	)		(18,173,354	)		(5,876,644	)		(3,741,341	)		(9,703,507	)		(10,425,209	)		(4,912,849	)		(5,152,782	)

Ending units		167,111,325			183,113,418			36,896,475			39,789,707			78,892,080			85,114,271			37,114,545			40,264,988

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NJMMA2						NJNDE2						NVAMV1						NVAMV2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	317,752			(408,138	)		(378,265	)		(307,228	)		127,067			(51,403	)		18,951			(361,445	)
Realized gain (loss) on investments		(554,853	)		(377,541	)		1,148,142			914,040			378,704			473,986			1,404,435			1,092,283
Change in unrealized gain (loss) on investments		2,504,537			(5,488,578	)		14,361,354			(11,167,148	)		(1,401	)		(6,029,741	)		(676,532	)		(13,044,586	)
Reinvested capital gains		-			513,394			-			331,849			1,774,658			4,646,392			3,621,521			9,932,807

Net increase (decrease) in contract owners’ equity resulting from operations		2,267,436			(5,760,863	)		15,131,231			(10,228,487	)		2,279,028			(960,766	)		4,368,375			(2,380,941	)

Equity transactions:
Purchase payments received from contract owners (note 4)		2,588,599			9,170,046			15,384,700			21,861,537			2			2,096			38,856			(648	)
Transfers between funds		(840,235	)		(776,308	)		(1,615,713	)		916,824			(210,127	)		(306,223	)		(1,730,773	)		(3,028,922	)
Redemptions (notes 2, 3, and 4)		(1,565,202	)		(1,337,102	)		(3,369,443	)		(2,197,245	)		(2,902,556	)		(2,943,131	)		(7,072,668	)		(5,846,941	)
Adjustments to maintain reserves		(119	)		(491	)		(175	)		(3,811	)		4,734			1,832			21,594			(35,277	)

Net equity transactions		183,043			7,056,145			10,399,369			20,577,305			(3,107,947	)		(3,245,426	)		(8,742,991	)		(8,911,788	)

Net change in contract owners’ equity		2,450,479			1,295,282			25,530,600			10,348,818			(828,919	)		(4,206,192	)		(4,374,616	)		(11,292,729	)
Contract owners’ equity at beginning of period		30,566,498			29,271,216			54,700,427			44,351,609			33,095,881			37,302,073			68,673,843			79,966,572

Contract owners’ equity at end of period	$	33,016,977			30,566,498			80,231,027			54,700,427			32,266,962			33,095,881			64,299,227			68,673,843

CHANGE IN UNITS:
Beginning units		3,455,985			2,741,466			3,989,542			2,576,767			829,955			912,757			1,805,313			2,043,608
Units purchased		496,364			1,101,686			1,334,323			1,810,178			-			-			18,455			14,016
Units redeemed		(473,383	)		(387,167	)		(648,865	)		(397,403	)		(76,648	)		(82,802	)		(244,382	)		(252,311	)

Ending units		3,478,966			3,455,985			4,675,000			3,989,542			753,307			829,955			1,579,386			1,805,313

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVAMVX						NVAMVZ						NVBX						NVCBD1
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	29,534			5,035			93,579			(662,205	)		18,881			14,501			46,967			33,599
Realized gain (loss) on investments		355,737			442,221			9,361,439			10,165,346			(227	)		(148,093	)		(186,738	)		(60,511	)
Change in unrealized gain (loss) on investments		(352,684	)		(1,383,458	)		(7,684,535	)		(39,307,901	)		19,163			(4,839	)		245,248			(471,960	)
Reinvested capital gains		292,116			791,300			9,244,470			25,129,133			-			5,953			-			3,341

Net increase (decrease) in contract owners’ equity resulting from operations		324,703			(144,902	)		11,014,953			(4,675,627	)		37,817			(132,478	)		105,477			(495,531	)

Equity transactions:
Purchase payments received from contract owners (note 4)		116,127			289,598			5,036,421			8,791,799			-			-			7,319			8,289
Transfers between funds		(418,601	)		(88,103	)		(17,553,737	)		(492,665	)		58,489			(306,981	)		(52,472	)		634,517
Redemptions (notes 2, 3, and 4)		(532,985	)		(327,797	)		(17,392,345	)		(14,683,997	)		-			-			(329,200	)		(233,884	)
Adjustments to maintain reserves		(85	)		(154	)		(863	)		9,449			(12	)		865			(40	)		(33	)

Net equity transactions		(835,544	)		(126,456	)		(29,910,524	)		(6,375,414	)		58,477			(306,116	)		(374,393	)		408,889

Net change in contract owners’ equity		(510,841	)		(271,358	)		(18,895,571	)		(11,051,041	)		96,294			(438,594	)		(268,916	)		(86,642	)
Contract owners’ equity at beginning of period		5,781,202			6,052,560			176,212,496			187,263,537			762,261			1,200,855			2,882,674			2,969,316

Contract owners’ equity at end of period	$	5,270,361			5,781,202			157,316,925			176,212,496			858,555			762,261			2,613,758			2,882,674

CHANGE IN UNITS:
Beginning units		376,450			385,404			11,610,728			11,992,913			77,370			105,005			238,604			207,005
Units purchased		55,664			94,957			1,120,259			2,604,503			5,906			173			29,000			70,184
Units redeemed		(112,572	)		(103,911	)		(3,069,837	)		(2,986,688	)		-			(27,808	)		(59,210	)		(38,585	)

Ending units		319,542			376,450			9,661,150			11,610,728			83,276			77,370			208,394			238,604

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVCBD2						NVCCA2						NVCCN2						NVCMA2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	1,314,350			623,883			(27,263,060	)		(30,334,192	)		(7,393,731	)		(8,512,715	)		(4,474,441	)		(4,686,535	)
Realized gain (loss) on investments		(2,508,895	)		(2,396,325	)		(13,123,292	)		20,978,335			(1,538,140	)		441,653			(4,989,910	)		(4,747,734	)
Change in unrealized gain (loss) on investments		4,404,432			(17,476,705	)		156,828,450			(463,059,311	)		34,409,819			(92,253,718	)		35,111,102			(54,419,117	)
Reinvested capital gains		-			114,829			133,907,987			85,901,079			10,291,081			12,464,901			19,054,395			5,709,996

Net increase (decrease) in contract owners’ equity resulting from operations		3,209,887			(19,134,318	)		250,350,085			(386,514,089	)		35,769,029			(87,859,879	)		44,701,146			(58,143,390	)

Equity transactions:
Purchase payments received from contract owners (note 4)		2,653,835			6,650,858			11,044,971			18,899,966			9,692,681			10,259,265			12,701,996			20,069,071
Transfers between funds		3,114,623			1,828,507			(12,440,993	)		(21,934,168	)		7,681,260			31,199,659			(2,668,196	)		(5,117,410	)
Redemptions (notes 2, 3, and 4)		(9,174,948	)		(10,003,962	)		(209,582,707	)		(220,252,428	)		(92,500,644	)		(92,110,350	)		(31,000,952	)		(24,011,797	)
Adjustments to maintain reserves		44,524			25,075			22,891			81,974			4,633			10,937			(666	)		8,363

Net equity transactions		(3,361,966	)		(1,499,522	)		(210,955,838	)		(223,204,656	)		(75,122,070	)		(50,640,489	)		(20,967,818	)		(9,051,773	)

Net change in contract owners’ equity		(152,079	)		(20,633,840	)		39,394,247			(609,718,745	)		(39,353,041	)		(138,500,368	)		23,733,328			(67,195,163	)
Contract owners’ equity at beginning of period		96,512,134			117,145,974			1,834,138,481			2,443,857,226			536,701,134			675,201,502			287,394,410			354,589,573

Contract owners’ equity at end of period	$	96,360,055			96,512,134			1,873,532,728			1,834,138,481			497,348,093			536,701,134			311,127,738			287,394,410

CHANGE IN UNITS:
Beginning units		8,451,486			8,606,445			108,932,578			121,505,952			43,213,362			47,157,538			16,428,664			16,993,711
Units purchased		1,129,464			1,628,645			1,144,683			1,747,948			3,667,827			6,870,746			980,643			1,365,617
Units redeemed		(1,441,718	)		(1,783,604	)		(12,962,446	)		(14,321,322	)		(9,549,654	)		(10,814,922	)		(2,131,628	)		(1,930,664	)

Ending units		8,139,232			8,451,486			97,114,815			108,932,578			37,331,535			43,213,362			15,277,679			16,428,664

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVCMC2						NVCMD2						NVCRA2						NVCRB2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(7,433,568	)		(8,507,709	)		(26,659,270	)		(29,373,865	)		(1,743,760	)		(1,685,336	)		(22,251,679	)		(24,718,279	)
Realized gain (loss) on investments		(5,096,912	)		552,247			(4,968,475	)		15,893,262			2,573,592			1,573,529			(355,362	)		15,840,568
Change in unrealized gain (loss) on investments		36,290,633			(102,837,050	)		142,155,617			(395,656,424	)		11,003,899			(20,386,571	)		117,435,475			(340,431,620	)
Reinvested capital gains		25,161,210			15,491,974			116,461,866			57,911,284			7,159,955			428,031			76,587,487			56,364,890

Net increase (decrease) in contract owners’ equity resulting from operations		48,921,363			(95,300,538	)		226,989,738			(351,225,743	)		18,993,686			(20,070,347	)		171,415,921			(292,944,441	)

Equity transactions:
Purchase payments received from contract owners (note 4)		5,356,472			10,698,920			41,604,419			57,139,412			10,176,649			20,606,978			19,954,932			27,120,068
Transfers between funds		(12,501,613	)		(5,277,828	)		(24,956,101	)		(23,899,292	)		(801,567	)		(2,022,415	)		(6,164,680	)		(12,909,511	)
Redemptions (notes 2, 3, and 4)		(67,189,962	)		(62,274,285	)		(206,755,579	)		(205,327,772	)		(8,571,809	)		(8,381,260	)		(174,923,581	)		(180,879,761	)
Adjustments to maintain reserves		13,513			4,650			13,616			64,776			563			(759	)		33,644			67,994

Net equity transactions		(74,321,590	)		(56,848,543	)		(190,093,645	)		(172,022,876	)		803,836			10,202,544			(161,099,685	)		(166,601,210	)

Net change in contract owners’ equity		(25,400,227	)		(152,149,081	)		36,896,093			(523,248,619	)		19,797,522			(9,867,803	)		10,316,236			(459,545,651	)
Contract owners’ equity at beginning of period		528,045,504			680,194,585			1,818,191,751			2,341,440,370			108,288,339			118,156,142			1,554,154,358			2,013,700,009

Contract owners’ equity at end of period	$	502,645,277			528,045,504			1,855,087,844			1,818,191,751			128,085,861			108,288,339			1,564,470,594			1,554,154,358

CHANGE IN UNITS:
Beginning units		36,958,066			40,815,042			113,068,702			123,502,905			5,963,134			5,473,421			103,046,921			113,628,707
Units purchased		754,336			1,728,290			2,779,557			4,005,203			919,221			1,367,140			3,180,535			3,574,671
Units redeemed		(5,770,688	)		(5,585,266	)		(14,209,744	)		(14,439,406	)		(917,739	)		(877,427	)		(13,468,011	)		(14,156,457	)

Ending units		31,941,714			36,958,066			101,638,515			113,068,702			5,964,616			5,963,134			92,759,445			103,046,921

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVDBL2						NVDCA2						NVFIII						NVGEII
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(16,400,161	)		(18,149,576	)		(15,324,429	)		(16,942,141	)		575,894			150,386			115,038			133,309
Realized gain (loss) on investments		(27,752,419	)		4,572,106			(38,123,980	)		9,442,181			(483,423	)		(815,446	)		747,715			1,064,938
Change in unrealized gain (loss) on investments		168,805,662			(481,940,649	)		195,826,658			(633,031,661	)		1,407,042			(4,724,216	)		7,964,002			(9,173,147	)
Reinvested capital gains		-			257,158,082			1,001,364			382,456,849			-			-			-			94

Net increase (decrease) in contract owners’ equity resulting from operations		124,653,082			(238,360,037	)		143,379,613			(258,074,772	)		1,499,513			(5,389,276	)		8,826,755			(7,974,806	)

Equity transactions:
Purchase payments received from contract owners (note 4)		17,563,956			22,015,605			7,645,756			18,344,637			9,416,149			7,232,204			10,710,023			10,558,668
Transfers between funds		(11,172,098	)		(11,286,836	)		(9,424,968	)		(13,628,734	)		2,554,657			(2,912,858	)		(2,186,272	)		(1,006,133	)
Redemptions (notes 2, 3, and 4)		(133,140,265	)		(122,331,826	)		(114,664,137	)		(121,396,614	)		(2,108,152	)		(1,615,866	)		(2,280,951	)		(1,776,563	)
Adjustments to maintain reserves		9,280			52,660			37,924			23,300			(132	)		(763	)		(122	)		(3,075	)

Net equity transactions		(126,739,127	)		(111,550,397	)		(116,405,425	)		(116,657,411	)		9,862,522			2,702,717			6,242,678			7,772,897

Net change in contract owners’ equity		(2,086,045	)		(349,910,434	)		26,974,188			(374,732,183	)		11,362,035			(2,686,559	)		15,069,433			(201,909	)
Contract owners’ equity at beginning of period		1,156,568,352			1,506,478,786			1,037,828,812			1,412,560,995			31,506,977			34,193,536			43,177,588			43,379,497

Contract owners’ equity at end of period	$	1,154,482,307			1,156,568,352			1,064,803,000			1,037,828,812			42,869,012			31,506,977			58,247,021			43,177,588

CHANGE IN UNITS:
Beginning units		64,491,785			70,464,357			46,600,455			51,530,744			3,456,865			3,195,180			3,532,390			2,930,870
Units purchased		1,887,315			2,372,905			727,299			1,206,310			1,517,565			1,030,544			970,435			1,084,941
Units redeemed		(8,650,686	)		(8,345,477	)		(5,633,358	)		(6,136,599	)		(447,516	)		(768,859	)		(495,242	)		(483,421	)

Ending units		57,728,414			64,491,785			41,694,396			46,600,455			4,526,914			3,456,865			4,007,583			3,532,390

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVIE6						NVLCP2						NVLCPP						NVMGA2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	378,112			689,941			18,102			7,425			7,930,806			3,883,303			(4,534,404	)		(4,778,750	)
Realized gain (loss) on investments		200,593			419,591			(1,115	)		(78,889	)		(7,213,012	)		(8,228,531	)		4,639,774			2,960,487
Change in unrealized gain (loss) on investments		5,716,044			(12,007,200	)		23,873			(34,026	)		20,702,678			(71,405,798	)		32,540,875			(62,092,662	)
Reinvested capital gains		-			4,431,823			-			7,153			-			4,801,615			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		6,294,749			(6,465,845	)		40,860			(98,337	)		21,420,472			(70,949,411	)		32,646,245			(63,910,925	)

Equity transactions:
Purchase payments received from contract owners (note 4)		1,526,845			367,364			128,502			12,525			8,884,831			10,950,624			11,930,529			18,141,347
Transfers between funds		(362,785	)		473,023			36,301			27,164			22,441,196			(11,333,713	)		(6,904,795	)		5,619,863
Redemptions (notes 2, 3, and 4)		(2,763,004	)		(2,834,612	)		(14,283	)		(8,546	)		(38,701,198	)		(37,124,494	)		(30,159,806	)		(18,952,629	)
Adjustments to maintain reserves		(634	)		2,740			1,589			(229	)		6,225			62,000			(310	)		7,564

Net equity transactions		(1,599,578	)		(1,991,485	)		152,109			30,914			(7,368,946	)		(37,445,583	)		(25,134,382	)		4,816,145

Net change in contract owners’ equity		4,695,171			(8,457,330	)		192,969			(67,423	)		14,051,526			(108,394,994	)		7,511,863			(59,094,780	)
Contract owners’ equity at beginning of period		33,452,583			41,909,913			569,983			637,406			373,423,761			481,818,755			331,518,956			390,613,736

Contract owners’ equity at end of period	$	38,147,754			33,452,583			762,952			569,983			387,475,287			373,423,761			339,030,819			331,518,956

CHANGE IN UNITS:
Beginning units		3,312,582			3,502,801			42,506			40,555			44,324,455			48,708,497			30,058,487			29,761,850
Units purchased		411,714			261,163			21,872			5,509			5,407,572			4,157,333			1,480,230			2,987,096
Units redeemed		(569,118	)		(451,382	)		(10,861	)		(3,558	)		(6,270,374	)		(8,541,375	)		(3,674,397	)		(2,690,459	)

Ending units		3,155,178			3,312,582			53,517			42,506			43,461,653			44,324,455			27,864,320			30,058,487

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVMIG1						NVMIG6						NVMIVX						NVMIVZ
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	91,312			(243,683	)		(152,926	)		(2,307,422	)		25,333			43,165			1,300,931			3,713,392
Realized gain (loss) on investments		(1,171,670	)		(869,664	)		(13,435,054	)		(6,698,452	)		65,282			44,266			233,448			3,505,101
Change in unrealized gain (loss) on investments		3,288,253			(10,366,000	)		33,291,077			(83,760,938	)		154,684			(236,378	)		18,620,303			(22,248,276	)
Reinvested capital gains		-			712,354			-			6,474,982			-			-			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		2,207,895			(10,766,993	)		19,703,097			(86,291,830	)		245,299			(148,947	)		20,154,682			(15,029,783	)

Equity transactions:
Purchase payments received from contract owners (note 4)		96,954			199,144			1,572,348			8,208,038			19,682			31,244			1,813,406			2,603,431
Transfers between funds		(435,731	)		(153,720	)		(8,083,257	)		31,921,024			(1,691	)		(72,685	)		(17,367,124	)		3,903,696
Redemptions (notes 2, 3, and 4)		(1,224,273	)		(1,205,706	)		(13,107,527	)		(12,807,677	)		(250,641	)		(136,830	)		(18,981,632	)		(18,298,979	)
Adjustments to maintain reserves		5,711			56,130			25,125			(22,613	)		369			5,223			(338	)		8,465

Net equity transactions		(1,557,339	)		(1,104,152	)		(19,593,311	)		27,298,772			(232,281	)		(173,048	)		(34,535,688	)		(11,783,387	)

Net change in contract owners’ equity		650,556			(11,871,145	)		109,786			(58,993,058	)		13,018			(321,995	)		(14,381,006	)		(26,813,170	)
Contract owners’ equity at beginning of period		16,230,356			28,101,501			150,518,768			209,511,826			1,855,945			2,177,940			171,565,550			198,378,720

Contract owners’ equity at end of period	$	16,880,912			16,230,356			150,628,554			150,518,768			1,868,963			1,855,945			157,184,544			171,565,550

CHANGE IN UNITS:
Beginning units		1,461,401			1,554,725			12,755,434			10,844,176			154,806			169,230			14,533,815			15,544,285
Units purchased		15,063			66,210			869,878			4,222,518			10,890			7,940			849,814			1,733,123
Units redeemed		(145,659	)		(159,534	)		(2,421,268	)		(2,311,260	)		(29,228	)		(22,364	)		(3,670,728	)		(2,743,593	)

Ending units		1,330,805			1,461,401			11,204,044			12,755,434			136,468			154,806			11,712,901			14,533,815

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVMLG1						NVMLG2						NVMM2						NVMMG1
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	580,161			460,304			7,032,731			4,986,074			74,198			(4,093	)		(1,719,669	)		(1,935,736	)
Realized gain (loss) on investments		(609,090	)		(1,088,826	)		(1,287,380	)		(13,208,993	)		-			-			(11,824,776	)		(10,981,251	)
Change in unrealized gain (loss) on investments		3,063,665			(3,369,195	)		33,401,759			(42,664,872	)		-			-			36,155,980			(109,455,101	)
Reinvested capital gains		728,316			2,204,080			9,188,054			28,096,056			-			15			-			38,896,694

Net increase (decrease) in contract owners’ equity resulting from operations		3,763,052			(1,793,637	)		48,335,164			(22,791,735	)		74,198			(4,078	)		22,611,535			(83,475,394	)

Equity transactions:
Purchase payments received from contract owners (note 4)		102,590			95,902			15,709,490			12,642,656			2,408,187			131,963			467,121			1,786,666
Transfers between funds		2,928,053			318,931			25,494,938			(13,060,053	)		1,190,846			104,910			(1,966,790	)		(2,838,661	)
Redemptions (notes 2, 3, and 4)		(1,273,575	)		(935,247	)		(13,438,964	)		(14,309,790	)		(2,219,927	)		(927,731	)		(10,125,814	)		(12,944,848	)
Adjustments to maintain reserves		14,208			(19,130	)		4,126			(24,613	)		(24	)		1			18,666			(7,752	)

Net equity transactions		1,771,276			(539,544	)		27,769,590			(14,751,800	)		1,379,082			(690,857	)		(11,606,817	)		(14,004,595	)

Net change in contract owners’ equity		5,534,328			(2,333,181	)		76,104,754			(37,543,535	)		1,453,280			(694,935	)		11,004,718			(97,479,989	)
Contract owners’ equity at beginning of period		10,776,886			13,110,067			138,315,104			175,858,639			703,543			1,398,478			123,532,548			221,012,537

Contract owners’ equity at end of period	$	16,311,214			10,776,886			214,419,858			138,315,104			2,156,823			703,543			134,537,266			123,532,548

CHANGE IN UNITS:
Beginning units		291,776			306,158			3,990,989			4,373,691			71,675			142,905			5,600,134			6,168,000
Units purchased		78,434			55,659			1,669,962			1,623,855			390,861			40,444			33,621			92,871
Units redeemed		(39,623	)		(70,041	)		(1,019,285	)		(2,006,557	)		(250,144	)		(111,674	)		(509,848	)		(660,737	)

Ending units		330,587			291,776			4,641,666			3,990,989			212,392			71,675			5,123,907			5,600,134

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVMMG2						NVMMV1						NVMMV2						NVNMO1
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(1,428,350	)		(1,556,849	)		5,586			5,853			150,063			(62,479	)		(562,027	)		(683,977	)
Realized gain (loss) on investments		(17,210,061	)		(9,721,626	)		(72,301	)		(13,369	)		(6,406,459	)		(5,430,980	)		920,274			1,982,601
Change in unrealized gain (loss) on investments		35,738,506			(79,890,492	)		35,139			(73,944	)		(9,497,351	)		(19,705,853	)		8,229,532			(25,081,663	)
Reinvested capital gains		-			32,870,398			78,999			55,523			29,694,770			16,134,967			5,039,932			7,950,507

Net increase (decrease) in contract owners’ equity resulting from operations		17,100,095			(58,298,569	)		47,423			(25,937	)		13,941,023			(9,064,345	)		13,627,711			(15,832,532	)

Equity transactions:
Purchase payments received from contract owners (note 4)		1,727,363			3,369,990			-			416			4,186,926			5,801,726			125,669			330,134
Transfers between funds		(2,037,731	)		13,263,703			(98,090	)		15,794			(9,445,722	)		1,719,255			(1,583,501	)		(1,216,341	)
Redemptions (notes 2, 3, and 4)		(9,416,593	)		(9,654,825	)		(50,648	)		(140,140	)		(19,257,172	)		(18,416,908	)		(5,251,880	)		(5,100,936	)
Adjustments to maintain reserves		2,003			(2,605	)		(7	)		(11,511	)		14,029			24,470			9,138			(17,763	)

Net equity transactions		(9,724,958	)		6,976,263			(148,745	)		(135,441	)		(24,501,939	)		(10,871,457	)		(6,700,574	)		(6,004,906	)

Net change in contract owners’ equity		7,375,137			(51,322,306	)		(101,322	)		(161,378	)		(10,560,916	)		(19,935,802	)		6,927,137			(21,837,438	)
Contract owners’ equity at beginning of period		92,690,911			144,013,217			574,533			735,911			215,614,722			235,550,524			66,413,398			88,250,836

Contract owners’ equity at end of period	$	100,066,048			92,690,911			473,211			574,533			205,053,806			215,614,722			73,340,535			66,413,398

CHANGE IN UNITS:
Beginning units		4,472,363			4,260,944			25,749			31,910			8,345,185			8,751,029			2,722,064			2,959,489
Units purchased		618,001			1,320,704			6,981			1,201			376,311			1,004,894			11,874			16,159
Units redeemed		(1,026,264	)		(1,109,285	)		(13,118	)		(7,362	)		(1,325,687	)		(1,410,738	)		(265,193	)		(253,584	)

Ending units		4,064,100			4,472,363			19,612			25,749			7,395,809			8,345,185			2,468,745			2,722,064

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVNMO2						NVNSR1						NVNSR2						NVOLG1
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(443,982	)		(504,277	)		(15,793	)		(14,492	)		(1,028,863	)		(960,505	)		353,975			(2,033,692	)
Realized gain (loss) on investments		323,431			295,479			(39,973	)		(12,898	)		(1,391,509	)		874,659			1,946,137			1,065,571
Change in unrealized gain (loss) on investments		5,345,368			(14,251,172	)		146,125			(609,461	)		7,508,722			(34,423,731	)		78,307,539			(148,664,151	)
Reinvested capital gains		3,076,008			5,059,945			188,257			113,382			9,883,188			6,278,109			-			27,549,393

Net increase (decrease) in contract owners’ equity resulting from operations		8,300,825			(9,400,025	)		278,616			(523,469	)		14,971,538			(28,231,468	)		80,607,651			(122,082,879	)

Equity transactions:
Purchase payments received from contract owners (note 4)		407,891			2,376,157			3,151			17,406			2,099,426			2,461,800			1,720,139			2,952,635
Transfers between funds		(3,725,247	)		9,916			(9,230	)		(256,389	)		(1,560,887	)		(4,838,470	)		(5,999,791	)		(4,899,581	)
Redemptions (notes 2, 3, and 4)		(2,511,025	)		(3,057,850	)		(112,533	)		(134,584	)		(8,164,050	)		(10,706,430	)		(34,501,750	)		(35,854,612	)
Adjustments to maintain reserves		(363	)		(2,566	)		(53	)		(49	)		3,451			5,633			42,582			(110,463	)

Net equity transactions		(5,828,744	)		(674,343	)		(118,665	)		(373,616	)		(7,622,060	)		(13,077,467	)		(38,738,820	)		(37,912,021	)

Net change in contract owners’ equity		2,472,081			(10,074,368	)		159,951			(897,085	)		7,349,478			(41,308,935	)		41,868,831			(159,994,900	)
Contract owners’ equity at beginning of period		41,562,832			51,637,200			1,510,981			2,408,066			82,648,943			123,957,878			380,499,217			540,494,117

Contract owners’ equity at end of period	$	44,034,913			41,562,832			1,670,932			1,510,981			89,998,421			82,648,943			422,368,048			380,499,217

CHANGE IN UNITS:
Beginning units		1,776,328			1,803,208			64,240			77,964			3,655,873			4,161,778			8,224,215			8,981,264
Units purchased		64,173			273,407			4,930			4,568			160,120			288,302			62,820			117,556
Units redeemed		(289,457	)		(300,287	)		(9,482	)		(18,292	)		(470,109	)		(794,207	)		(808,062	)		(874,605	)

Ending units		1,551,044			1,776,328			59,688			64,240			3,345,884			3,655,873			7,478,973			8,224,215

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVOLG2						NVRE1						NVRE2						NVSIX2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(1,613,174	)		(4,834,980	)		289,924			70,078			340,430			(278,889	)		(519,214	)		(1,074,676	)
Realized gain (loss) on investments		10,034,022			11,314,822			(562,765	)		230,453			381,178			5,279,258			(19,074,635	)		(8,077,654	)
Change in unrealized gain (loss) on investments		93,522,813			(203,242,783	)		2,928,056			(17,585,819	)		4,867,105			(42,775,624	)		45,948,664			(62,002,505	)
Reinvested capital gains		-			36,583,958			733,161			2,871,459			1,536,414			5,942,825			1,178,703			24,019,845

Net increase (decrease) in contract owners’ equity resulting from operations		101,943,661			(160,178,983	)		3,388,376			(14,413,829	)		7,125,127			(31,832,430	)		27,533,518			(47,134,990	)

Equity transactions:
Purchase payments received from contract owners (note 4)		10,069,987			22,675,511			163,675			597,017			1,784,088			4,083,351			20,721,104			24,929,599
Transfers between funds		(24,616,437	)		(38,637,026	)		(1,779,872	)		(687,382	)		(2,103,017	)		(1,682,260	)		(11,268,042	)		13,329,972
Redemptions (notes 2, 3, and 4)		(48,910,765	)		(52,105,987	)		(2,538,155	)		(2,645,056	)		(5,781,850	)		(7,213,650	)		(15,630,797	)		(10,643,929	)
Adjustments to maintain reserves		(7,927	)		19,248			11,403			276,275			12,536			2,165			3,732			(16,628	)

Net equity transactions		(63,465,142	)		(68,048,254	)		(4,142,949	)		(2,459,146	)		(6,088,243	)		(4,810,394	)		(6,174,003	)		27,599,014

Net change in contract owners’ equity		38,478,519			(228,227,237	)		(754,573	)		(16,872,975	)		1,036,884			(36,642,824	)		21,359,515			(19,535,976	)
Contract owners’ equity at beginning of period		496,354,183			724,581,420			33,304,006			50,176,981			68,631,305			105,274,129			190,123,553			209,659,529

Contract owners’ equity at end of period	$	534,832,702			496,354,183			32,549,433			33,304,006			69,668,189			68,631,305			211,483,068			190,123,553

CHANGE IN UNITS:
Beginning units		11,299,381			12,644,828			1,864,968			2,016,971			4,225,753			4,572,952			10,506,783			9,060,427
Units purchased		601,616			1,422,094			16,728			57,469			443,690			1,054,392			1,918,137			3,027,639
Units redeemed		(1,909,793	)		(2,767,541	)		(250,007	)		(209,472	)		(806,640	)		(1,401,591	)		(2,267,005	)		(1,581,283	)

Ending units		9,991,204			11,299,381			1,631,689			1,864,968			3,862,803			4,225,753			10,157,915			10,506,783

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NVSTB2						NVTIV3						SAM						SCF
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	3,310,786			852,505			194,214			479,548			26,009,218			(599,314	)		(451,041	)		(553,181	)
Realized gain (loss) on investments		(2,341,033	)		(1,356,832	)		1,119,011			900,517			-			-			(1,483,204	)		(603,852	)
Change in unrealized gain (loss) on investments		5,825,053			(11,679,643	)		1,565,812			(3,440,404	)		-			-			8,054,311			(27,212,738	)
Reinvested capital gains		-			-			-			-			81			17,652			313,158			13,598,946

Net increase (decrease) in contract owners’ equity resulting from operations		6,794,806			(12,183,970	)		2,879,037			(2,060,339	)		26,009,299			(581,662	)		6,433,224			(14,770,825	)

Equity transactions:
Purchase payments received from contract owners (note 4)		3,497,823			9,402,280			70			(2,894	)		202,685,738			233,659,348			223,408			642,849
Transfers between funds		(166,721	)		15,044,738			(915,955	)		(790,858	)		427,103,873			589,450,294			(812,714	)		(604,573	)
Redemptions (notes 2, 3, and 4)		(20,039,926	)		(16,968,542	)		(2,139,393	)		(1,980,126	)		(670,189,519	)		(682,885,083	)		(5,023,907	)		(5,368,364	)
Adjustments to maintain reserves		1,868			5,232			1,641			6,446			518,324			(385,315	)		24,761			(32,896	)

Net equity transactions		(16,706,956	)		7,483,708			(3,053,637	)		(2,767,432	)		(39,881,584	)		139,839,244			(5,588,452	)		(5,362,984	)

Net change in contract owners’ equity		(9,912,150	)		(4,700,262	)		(174,600	)		(4,827,771	)		(13,872,285	)		139,257,582			844,772			(20,133,809	)
Contract owners’ equity at beginning of period		171,192,546			175,892,808			22,381,971			27,209,742			812,229,437			672,971,855			56,084,137			76,217,946

Contract owners’ equity at end of period	$	161,280,396			171,192,546			22,207,371			22,381,971			798,357,152			812,229,437			56,928,909			56,084,137

CHANGE IN UNITS:
Beginning units		17,506,995			16,839,858			1,395,243			1,571,139			65,605,158			56,976,060			595,817			648,193
Units purchased		2,076,030			5,166,072			16,675			10,049			80,991,886			103,609,230			17,733			13,625
Units redeemed		(3,743,122	)		(4,498,935	)		(196,131	)		(185,945	)		(83,888,607	)		(94,980,132	)		(69,205	)		(66,001	)

Ending units		15,839,903			17,506,995			1,215,787			1,395,243			62,708,437			65,605,158			544,345			595,817

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	SCF2						SCGF						SCGF2						SCVF
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(657,368	)		(708,512	)		(60,573	)		(72,298	)		(722,161	)		(723,845	)		(188,639	)		(224,183	)
Realized gain (loss) on investments		(1,743,294	)		(702,060	)		(282,179	)		(309,813	)		(2,346,839	)		(2,638,609	)		(1,428,347	)		(654,856	)
Change in unrealized gain (loss) on investments		9,426,421			(28,501,440	)		1,026,242			(2,832,674	)		10,432,760			(25,870,619	)		3,743,496			(6,138,380	)
Reinvested capital gains		400,305			15,585,437			-			828,581			-			9,296,594			1,002,476			3,433,397

Net increase (decrease) in contract owners’ equity resulting from operations		7,426,064			(14,326,575	)		683,490			(2,386,204	)		7,363,760			(19,936,479	)		3,128,986			(3,584,022	)

Equity transactions:
Purchase payments received from contract owners (note 4)		4,874,832			7,663,631			38,744			54,665			3,952,440			6,272,370			171,831			367,662
Transfers between funds		(2,742,990	)		2,581,489			(127,420	)		300,921			2,403,469			3,452,138			(386,736	)		(129,599	)
Redemptions (notes 2, 3, and 4)		(5,186,068	)		(4,848,670	)		(741,011	)		(530,113	)		(3,604,447	)		(3,419,048	)		(2,157,732	)		(1,398,517	)
Adjustments to maintain reserves		10,884			(11,547	)		(140	)		171			(394	)		3,084			10,950			(6,972	)

Net equity transactions		(3,043,342	)		5,384,903			(829,827	)		(174,356	)		2,751,068			6,308,544			(2,361,687	)		(1,167,426	)

Net change in contract owners’ equity		4,382,722			(8,941,672	)		(146,337	)		(2,560,560	)		10,114,828			(13,627,935	)		767,299			(4,751,448	)
Contract owners’ equity at beginning of period		60,870,088			69,811,760			5,023,975			7,584,535			45,607,569			59,235,504			21,304,910			26,056,358

Contract owners’ equity at end of period	$	65,252,810			60,870,088			4,877,638			5,023,975			55,722,397			45,607,569			22,072,209			21,304,910

CHANGE IN UNITS:
Beginning units		1,219,361			1,112,472			284,269			294,897			1,313,572			1,159,135			445,517			466,390
Units purchased		262,624			387,377			27,499			49,300			470,637			630,355			6,941			16,471
Units redeemed		(304,128	)		(280,488	)		(73,734	)		(59,928	)		(388,539	)		(475,918	)		(53,038	)		(37,344	)

Ending units		1,177,857			1,219,361			238,034			284,269			1,395,670			1,313,572			399,420			445,517

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	SCVF2						TRF						TRF2						AMCG
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(571,129	)		(658,971	)		(6,657	)		(218,947	)		(367,916	)		(585,263	)		(54	)		(102	)
Realized gain (loss) on investments		(479,419	)		(3,274,034	)		7,203,487			8,676,745			4,409,507			9,644,008			(331	)		(2,549	)
Change in unrealized gain (loss) on investments		5,357,272			(11,446,937	)		(10,723,599	)		(34,571,697	)		(7,729,216	)		(32,283,653	)		1,120			(3,148	)
Reinvested capital gains		2,289,365			7,746,573			10,933,801			12,541,681			9,961,669			11,149,884			-			2,087

Net increase (decrease) in contract owners’ equity resulting from operations		6,596,089			(7,633,369	)		7,407,032			(13,572,218	)		6,274,044			(12,075,024	)		735			(3,712	)

Equity transactions:
Purchase payments received from contract owners (note 4)		2,716,524			4,528,614			802,500			742,252			4,776,040			7,740,803			-			5
Transfers between funds		(4,428,890	)		(2,830,174	)		(1,288,299	)		(1,934,968	)		(1,903,934	)		(7,373,801	)		-			-
Redemptions (notes 2, 3, and 4)		(2,853,832	)		(3,468,252	)		(10,282,036	)		(11,194,703	)		(11,204,643	)		(10,719,052	)		(450	)		(1,599	)
Adjustments to maintain reserves		(882	)		5,624			87,464			(159,263	)		6,131			(5,922	)		158			(6,694	)

Net equity transactions		(4,567,080	)		(1,764,188	)		(10,680,371	)		(12,546,682	)		(8,326,406	)		(10,357,972	)		(292	)		(8,288	)

Net change in contract owners’ equity		2,029,009			(9,397,557	)		(3,273,339	)		(26,118,900	)		(2,052,362	)		(22,432,996	)		443			(12,000	)
Contract owners’ equity at beginning of period		46,164,883			55,562,440			114,919,742			141,038,642			102,389,511			124,822,507			3,161			15,161

Contract owners’ equity at end of period	$	48,193,892			46,164,883			111,646,403			114,919,742			100,337,149			102,389,511			3,604			3,161

CHANGE IN UNITS:
Beginning units		1,066,618			1,086,083			680,092			760,739			2,527,841			2,764,737			-			-
Units purchased		148,801			228,783			5,216			4,618			214,974			311,882			-			-
Units redeemed		(247,571	)		(248,248	)		(67,508	)		(85,265	)		(412,900	)		(548,778	)		-			-

Ending units		967,848			1,066,618			617,800			680,092			2,329,915			2,527,841			-			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	AMINS						AMMCGS						AMSRS						AMTB
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(1,548	)		(118	)		(35,122	)		(42,014	)		(128,944	)		(130,740	)		1,269,175			1,064,220
Realized gain (loss) on investments		(5,774	)		(1,402	)		(136,247	)		11,777			345,458			702,516			(724,201	)		(757,485	)
Change in unrealized gain (loss) on investments		17,482			(67,479	)		512,196			(1,596,428	)		2,483,903			(5,216,574	)		1,279,927			(3,972,988	)
Reinvested capital gains		-			38,659			-			537,865			203,605			1,299,274			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		10,160			(30,340	)		340,827			(1,088,800	)		2,904,022			(3,345,524	)		1,824,901			(3,666,253	)

Equity transactions:
Purchase payments received from contract owners (note 4)		(6	)		-			24,556			7,353			15,040			35,251			298,493			326,942
Transfers between funds		(94	)		-			(192,500	)		(65,762	)		(251,517	)		(625,857	)		486,217			(3,451,784	)
Redemptions (notes 2, 3, and 4)		(4,078	)		(3,878	)		(192,999	)		(219,130	)		(1,063,890	)		(1,550,545	)		(5,554,026	)		(6,825,074	)
Adjustments to maintain reserves		(11	)		(15	)		(181	)		(63	)		(1,775	)		9,514			3,288			10,183

Net equity transactions		(4,189	)		(3,893	)		(361,124	)		(277,602	)		(1,302,142	)		(2,131,637	)		(4,766,028	)		(9,939,733	)

Net change in contract owners’ equity		5,971			(34,233	)		(20,297	)		(1,366,402	)		1,601,880			(5,477,161	)		(2,941,127	)		(13,605,986	)
Contract owners’ equity at beginning of period		91,705			125,938			2,315,370			3,681,772			12,199,415			17,676,576			44,174,771			57,780,757

Contract owners’ equity at end of period	$	97,676			91,705			2,295,073			2,315,370			13,801,295			12,199,415			41,233,644			44,174,771

CHANGE IN UNITS:
Beginning units		6,010			6,268			50,308			55,520			296,772			346,609			3,921,360			4,852,137
Units purchased		1			-			2,499			3,782			1,917			2,917			307,340			204,821
Units redeemed		(263	)		(258	)		(10,585	)		(8,994	)		(30,245	)		(52,754	)		(727,914	)		(1,135,598	)

Ending units		5,748			6,010			42,222			50,308			268,444			296,772			3,500,786			3,921,360

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	NOTB4						NOTG4						NOTMG4						PMUBA
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(76,288	)		967,433			(57,796	)		259,909			(73,073	)		719,243			2,279			1,591
Realized gain (loss) on investments		(2,524,758	)		(25,885	)		(692,561	)		67,467			(3,716,492	)		(22,736	)		(789	)		(405	)
Change in unrealized gain (loss) on investments		2,862,047			(4,039,450	)		1,017,816			(2,600,066	)		4,106,311			(4,660,028	)		3,118			(14,693	)
Reinvested capital gains		20,032			2,216,697			4,773			1,561,068			13,255			3,015,960			-			7,981

Net increase (decrease) in contract owners’ equity resulting from operations		281,033			(881,205	)		272,232			(711,622	)		330,001			(947,561	)		4,608			(5,526	)

Equity transactions:
Purchase payments received from contract owners (note 4)		73,825			65,497			3,577			67,990			11,745			11,908			-			-
Transfers between funds		(233,516	)		(134,513	)		(229,788	)		(152,555	)		(153,784	)		(563,196	)		(1,581	)		16,550
Redemptions (notes 2, 3, and 4)		(1,113,081	)		(506,028	)		(306,751	)		(267,385	)		(529,893	)		(304,822	)		-			-
Adjustments to maintain reserves		308			19,572			(86	)		16,484			(56	)		17,282			(11	)		4

Net equity transactions		(1,272,464	)		(555,472	)		(533,048	)		(335,466	)		(671,988	)		(838,828	)		(1,592	)		16,554

Net change in contract owners’ equity		(991,431	)		(1,436,677	)		(260,816	)		(1,047,088	)		(341,987	)		(1,786,389	)		3,016			11,028
Contract owners’ equity at beginning of period		5,059,989			6,496,666			3,590,557			4,637,645			4,588,722			6,375,111			73,161			62,133

Contract owners’ equity at end of period	$	4,068,558			5,059,989			3,329,741			3,590,557			4,246,735			4,588,722			76,177			73,161

CHANGE IN UNITS:
Beginning units		451,826			501,455			300,024			327,868			385,859			455,778			7,154			5,661
Units purchased		11,188			17,889			3,352			24,497			6,117			35,973			118			1,645
Units redeemed		(122,630	)		(67,518	)		(46,995	)		(52,341	)		(60,684	)		(105,892	)		(275	)		(152	)

Ending units		340,384			451,826			256,381			300,024			331,292			385,859			6,997			7,154

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	PMVAAD						PMVEBD						PMVFAD						PMVFHA
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	433,045			2,266,838			491,733			400,873			112,699			(7,307	)		3,391			3,278
Realized gain (loss) on investments		(729,459	)		(551,857	)		(543,801	)		(323,039	)		(738,199	)		(743,136	)		(467	)		(33,546	)
Change in unrealized gain (loss) on investments		2,445,813			(10,441,826	)		1,120,422			(2,580,353	)		1,149,427			(2,553,809	)		5,757			(14,144	)
Reinvested capital gains		-			3,078,805			-			-			-			-			4,199			187

Net increase (decrease) in contract owners’ equity resulting from operations		2,149,399			(5,648,040	)		1,068,354			(2,502,519	)		523,927			(3,304,252	)		12,880			(44,225	)

Equity transactions:
Purchase payments received from contract owners (note 4)		1,343,219			2,089,605			601,520			838,515			223,111			476,374			-			-
Transfers between funds		(1,038,321	)		(1,157,009	)		(504,327	)		(292,087	)		(43,093	)		(13,789	)		402			(313,896	)
Redemptions (notes 2, 3, and 4)		(2,834,479	)		(3,149,045	)		(871,653	)		(731,386	)		(1,040,876	)		(1,053,464	)		(1,908	)		(23,770	)
Adjustments to maintain reserves		12,272			(5,481	)		283			501			(389	)		38			-			2

Net equity transactions		(2,517,309	)		(2,221,930	)		(774,177	)		(184,457	)		(861,247	)		(590,841	)		(1,506	)		(337,664	)

Net change in contract owners’ equity		(367,910	)		(7,869,970	)		294,177			(2,686,976	)		(337,320	)		(3,895,093	)		11,374			(381,889	)
Contract owners’ equity at beginning of period		35,539,807			43,409,777			11,945,949			14,632,925			12,602,018			16,497,111			151,355			533,244

Contract owners’ equity at end of period	$	35,171,897			35,539,807			12,240,126			11,945,949			12,264,698			12,602,018			162,729			151,355

CHANGE IN UNITS:
Beginning units		2,882,103			3,059,097			1,277,183			1,297,839			1,350,511			1,409,571			12,975			40,864
Units purchased		219,651			294,592			134,405			154,012			113,681			201,056			37			39
Units redeemed		(423,190	)		(471,586	)		(215,395	)		(174,668	)		(209,018	)		(260,116	)		(164	)		(27,928	)

Ending units		2,678,564			2,882,103			1,196,193			1,277,183			1,255,174			1,350,511			12,848			12,975

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	PMVFHV						PMVHYD						PMVIV						PMVLAD
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	19			5			20,104			18,803			301,720			117,203			6,836,216			235,692
Realized gain (loss) on investments		(1	)		(1	)		(5,147	)		(3,340	)		(36,705	)		(29,460	)		(4,442,271	)		(5,924,466	)
Change in unrealized gain (loss) on investments		42			(151	)		28,184			(65,356	)		363,870			(506,413	)		8,338,325			(22,772,013	)
Reinvested capital gains		32			-			-			-			-			366			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		92			(147	)		43,141			(49,893	)		628,885			(418,304	)		10,732,270			(28,460,787	)

Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			-			41,799			5,893,888			410,143			8,917,496			15,602,540
Transfers between funds		-			-			(6,622	)		27,352			3,215,953			24,492			9,534,676			(20,703,629	)
Redemptions (notes 2, 3, and 4)		(1	)		(1	)		(43,326	)		(21,322	)		(164,595	)		(87,323	)		(39,094,345	)		(37,168,553	)
Adjustments to maintain reserves		(6	)		1			(12	)		(6	)		(136	)		10			47,536			(42,429	)

Net equity transactions		(7	)		-			(49,960	)		47,823			8,945,110			347,322			(20,594,637	)		(42,312,071	)

Net change in contract owners’ equity		85			(147	)		(6,819	)		(2,070	)		9,573,995			(70,982	)		(9,862,367	)		(70,772,858	)
Contract owners’ equity at beginning of period		1,169			1,316			404,145			406,215			4,404,541			4,475,523			328,242,269			399,015,127

Contract owners’ equity at end of period	$	1,254			1,169			397,326			404,145			13,978,536			4,404,541			318,379,902			328,242,269

CHANGE IN UNITS:
Beginning units		130			130			31,464			28,229			425,080			394,576			31,285,789			35,344,714
Units purchased		-			-			575			7,150			950,276			64,305			4,094,706			4,415,063
Units redeemed		(1	)		-			(4,298	)		(3,915	)		(70,433	)		(33,801	)		(6,061,976	)		(8,473,988	)

Ending units		129			130			27,741			31,464			1,304,923			425,080			29,318,519			31,285,789

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	PMVRA						PMVRSD						PMVSTA						PMVTRD
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	41,784			78,668			180,623			225,736			3,171,818			145,379			3,520			2,369
Realized gain (loss) on investments		(60,105	)		(29,124	)		(59,507	)		72,154			(304,513	)		(324,412	)		(1,686	)		(33,812	)
Change in unrealized gain (loss) on investments		70,261			(231,174	)		(233,014	)		(361,560	)		1,636,126			(1,425,021	)		8,200			(8,992	)
Reinvested capital gains		-			-			-			-			-			156,996			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		51,940			(181,630	)		(111,898	)		(63,670	)		4,503,431			(1,447,058	)		10,034			(40,435	)

Equity transactions:
Purchase payments received from contract owners (note 4)		44,703			82,683			196,650			720,494			8,985,197			14,089,092			1,269			(13,481	)
Transfers between funds		93,992			927,290			(72,069	)		133,634			13,704,943			4,683,321			107,217			8,207
Redemptions (notes 2, 3, and 4)		(266,791	)		(22,534	)		(35,574	)		(13,788	)		(11,491,252	)		(6,831,391	)		(15,859	)		(65,383	)
Adjustments to maintain reserves		3			45			(30	)		203			(393	)		(532	)		325			1,567

Net equity transactions		(128,093	)		987,484			88,977			840,543			11,198,495			11,940,490			92,952			(69,090	)

Net change in contract owners’ equity		(76,153	)		805,854			(22,921	)		776,873			15,701,926			10,493,432			102,986			(109,525	)
Contract owners’ equity at beginning of period		1,650,693			844,839			1,277,325			500,452			97,165,458			86,672,026			134,196			243,721

Contract owners’ equity at end of period	$	1,574,540			1,650,693			1,254,404			1,277,325			112,867,384			97,165,458			237,182			134,196

CHANGE IN UNITS:
Beginning units		160,069			71,857			156,784			65,783			9,635,040			8,468,806			13,157			20,108
Units purchased		16,302			133,093			47,848			122,230			3,778,236			4,091,089			11,101			1,366
Units redeemed		(28,375	)		(44,881	)		(34,305	)		(31,229	)		(2,693,720	)		(2,924,855	)		(1,629	)		(8,317	)

Ending units		147,996			160,069			170,327			156,784			10,719,556			9,635,040			22,629			13,157

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	PVEIB						PVGOB						PVIGIB						PVNOB
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	692,107			(106,204	)		(54,317	)		(58,269	)		20,760			21,616			(6,618	)		-
Realized gain (loss) on investments		(473,835	)		1,050,675			(38,094	)		81,325			(249,736	)		(75,088	)		3,424			-
Change in unrealized gain (loss) on investments		9,008,523			(8,815,005	)		1,320,044			(2,360,266	)		3,046,594			(747,532	)		176,477			-
Reinvested capital gains		6,212,076			5,536,378			47,922			718,667			-			297,049			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		15,438,871			(2,334,156	)		1,275,555			(1,618,543	)		2,817,618			(503,955	)		173,283			-

Equity transactions:
Purchase payments received from contract owners (note 4)		22,698,367			29,060,899			9,597			8,582			4,548,837			4,474,265			896,854			-
Transfers between funds		(50,216	)		21,652,935			786,675			(530,177	)		946,242			3,512,721			1,396,925			-
Redemptions (notes 2, 3, and 4)		(7,161,655	)		(3,629,927	)		(383,350	)		(470,653	)		(895,373	)		(402,801	)		(19,942	)		-
Adjustments to maintain reserves		22,595			(3,797	)		(151	)		88			(129	)		1,611			(8	)		-

Net equity transactions		15,509,091			47,080,110			412,771			(992,160	)		4,599,577			7,585,796			2,273,829			-

Net change in contract owners’ equity		30,947,962			44,745,954			1,688,326			(2,610,703	)		7,417,195			7,081,841			2,447,112			-
Contract owners’ equity at beginning of period		99,309,748			54,563,794			2,958,245			5,568,948			14,605,662			7,523,821			-			-

Contract owners’ equity at end of period	$	130,257,710			99,309,748			4,646,571			2,958,245			22,022,857			14,605,662			2,447,112			-

CHANGE IN UNITS:
Beginning units		6,093,266			3,189,682			144,553			186,548			1,038,753			491,909			-			-
Units purchased		2,650,353			4,092,296			37,573			10,481			782,183			676,679			226,447			-
Units redeemed		(1,749,187	)		(1,188,712	)		(22,938	)		(52,476	)		(483,021	)		(129,835	)		(14,689	)		-

Ending units		6,994,432			6,093,266			159,188			144,553			1,337,915			1,038,753			211,758			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	PVTIGB						ROCSC						TRHS2						TRMCG2
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(359,011	)		(1,859	)		116			(164	)		(4,477,684	)		(4,806,985	)		(25,059	)		-
Realized gain (loss) on investments		(348,439	)		(122,285	)		4,995			(6,423	)		5,931,439			6,501,698			(163,588	)		-
Change in unrealized gain (loss) on investments		4,619,872			(4,936,589	)		6,695			(23,101	)		(9,689,701	)		(60,887,675	)		177,805			-
Reinvested capital gains		-			1,997,145			5,158			1,768			11,018,007			5,268,826			451,576			-

Net increase (decrease) in contract owners’ equity resulting from operations		3,912,422			(3,063,588	)		16,964			(27,920	)		2,782,061			(53,924,136	)		440,734			-

Equity transactions:
Purchase payments received from contract owners (note 4)		3,563,900			5,061,345			300			2,950			17,632,540			23,151,715			2,090,695			-
Transfers between funds		(221,489	)		2,417,262			(3,330	)		(69,662	)		(6,433,051	)		(12,057,442	)		12,297,318			-
Redemptions (notes 2, 3, and 4)		(1,333,890	)		(1,077,237	)		(48,121	)		(20,503	)		(29,710,622	)		(24,880,761	)		(67,709	)		-
Adjustments to maintain reserves		2,644			(17,157	)		6			1,294			30,747			29,746			(41	)		-

Net equity transactions		2,011,165			6,384,213			(51,145	)		(85,921	)		(18,480,386	)		(13,756,742	)		14,320,263			-

Net change in contract owners’ equity		5,923,587			3,320,625			(34,181	)		(113,841	)		(15,698,325	)		(67,680,878	)		14,760,997			-
Contract owners’ equity at beginning of period		23,128,286			19,807,661			98,952			212,793			311,986,375			379,667,253			-			-

Contract owners’ equity at end of period	$	29,051,873			23,128,286			64,771			98,952			296,288,050			311,986,375			14,760,997			-

CHANGE IN UNITS:
Beginning units		1,129,390			787,260			5,946			11,542			5,896,603			6,178,640			-			-
Units purchased		378,723			445,524			17			211			807,335			914,008			1,632,745			-
Units redeemed		(280,134	)		(103,394	)		(2,852	)		(5,807	)		(1,179,827	)		(1,196,045	)		(307,181	)		-

Ending units		1,227,979			1,129,390			3,111			5,946			5,524,111			5,896,603			1,325,564			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	VVGGS						VWBF						VWEM						VWHA
	2023			2022			2023			2022			2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	(2,459	)		(2,334	)		115,936			136,953			158,362			(92,338	)		146,978			31,501
Realized gain (loss) on investments		(65,631	)		(6,609	)		(193,664	)		(110,206	)		(338,951	)		(444,591	)		(109,459	)		(33,545	)
Change in unrealized gain (loss) on investments		104,853			(51,318	)		476,792			(439,831	)		809,163			(4,151,988	)		(578,797	)		816,094
Reinvested capital gains		-			-			-			-			-			1,668,464			-			-

Net increase (decrease) in contract owners’ equity resulting from operations		36,763			(60,261	)		399,064			(413,084	)		628,574			(3,020,453	)		(541,278	)		814,050

Equity transactions:
Purchase payments received from contract owners (note 4)		(392	)		65			6,438			18,150			24,653			67,641			7			64,452
Transfers between funds		(64,373	)		105,878			(166,539	)		(44,798	)		(800,733	)		(284,514	)		(107,764	)		(329,451	)
Redemptions (notes 2, 3, and 4)		(19,050	)		(19,055	)		(227,803	)		(294,277	)		(582,014	)		(839,299	)		(621,675	)		(854,863	)
Adjustments to maintain reserves		-			5			2,094			8,579			2,050			(617	)		32,836			60,229

Net equity transactions		(83,815	)		86,893			(385,810	)		(312,346	)		(1,356,044	)		(1,056,789	)		(696,596	)		(1,059,633	)

Net change in contract owners’ equity		(47,052	)		26,632			13,254			(725,430	)		(727,470	)		(4,077,242	)		(1,237,874	)		(245,583	)
Contract owners’ equity at beginning of period		370,876			344,244			4,234,254			4,959,684			7,887,635			11,964,877			10,979,812			11,225,395

Contract owners’ equity at end of period	$	323,824			370,876			4,247,508			4,234,254			7,160,165			7,887,635			9,741,938			10,979,812

CHANGE IN UNITS:
Beginning units		31,339			25,278			188,129			201,742			334,358			378,341			405,145			458,661
Units purchased		4,900			7,439			8,675			2,067			7,046			16,502			-			-
Units redeemed		(11,428	)		(1,378	)		(27,420	)		(15,680	)		(61,940	)		(60,485	)		(31,916	)		(53,516	)

Ending units		24,811			31,339			169,384			188,129			279,464			334,358			373,229			405,145

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022


	VWHAS						VRVDRA
	2023			2022			2023			2022
*Investment activity:**
Net investment income (loss)	$	358,413			(141,803	)		130,083			(58,530	)
Realized gain (loss) on investments		(5,419,636	)		6,739,082			(529,663	)		873,883
Change in unrealized gain (loss) on investments		1,693,061			(10,041,820	)		1,697,432			(5,926,913	)
Reinvested capital gains		-			-			169,851			339,316

Net increase (decrease) in contract owners’ equity resulting from operations		(3,368,162	)		(3,444,541	)		1,467,703			(4,772,244	)

Equity transactions:
Purchase payments received from contract owners (note 4)		2,949,907			5,613,871			1,907,955			5,229,098
Transfers between funds		(17,251,748	)		21,028,173			428,701			(955,417	)
Redemptions (notes 2, 3, and 4)		(4,849,913	)		(6,422,515	)		(584,966	)		(601,434	)
Adjustments to maintain reserves		4,241			(3,235	)		(144	)		(760	)

Net equity transactions		(19,147,513	)		20,216,294			1,751,546			3,671,487

Net change in contract owners’ equity		(22,515,675	)		16,771,753			3,219,249			(1,100,757	)
Contract owners’ equity at beginning of period		62,784,398			46,012,645			14,290,774			15,391,531

Contract owners’ equity at end of period	$	40,268,723			62,784,398			17,510,023			14,290,774

CHANGE IN UNITS:
Beginning units		7,565,765			5,854,613			1,298,027			1,017,854
Units purchased		2,015,777			9,745,970			409,681			876,496
Units redeemed		(4,514,335	)		(8,034,818	)		(256,033	)		(596,323	)

Ending units		5,067,207			7,565,765			1,451,675			1,298,027

*	For all subaccounts not included herein but listed as an investment option in note 1(b), there was no activity during the two-year period. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2023, if applicable.

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-II NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

(1) Background and Summary of Significant Accounting Policies

(a) Organization and Nature of Operations

The Nationwide Variable Account-II (the Separate Account) was established pursuant to a resolution of the Board of Directors of Nationwide Life Insurance Company (the Company) on October 7, 1981. The Separate Account is registered as a unit investment trust under the Investment Company Act of 1940. The Separate Account is an Investment Company and follows accounting and reporting guidance under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 946, Financial Services – Investment Companies.

(b) The Contracts

The Separate Account offers variable annuity insurance benefits intended to serve the long-term saving needs of investors. The primary distribution for the contracts is through the brokerage community; however, other distributors are utilized. Contract features are described in the applicable prospectus.

A contract owner may choose from among a number of different underlying mutual fund options. The underlying mutual fund options are not available to the general public directly. The underlying mutual funds are available as investment options in variable life insurance policies or variable annuity contracts issued by life insurance companies or, in some cases, through participation in certain qualified pension or retirement plans.

Some of the underlying mutual funds have been established by investment advisers which manage publicly traded mutual funds having similar names and investment objectives. While some of the underlying mutual funds may be similar to, and may in fact be modeled after, publicly traded mutual funds, the underlying mutual funds are not otherwise directly related to any publicly traded mutual fund. Consequently, the investment performance of publicly traded mutual funds and any corresponding underlying mutual funds may differ substantially.

With certain exceptions, contract owners in either the accumulation or payout phase may invest in any of the following:

AB FUNDS

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Balanced Hedged Allocation Portfolio: Class B (ALVBWB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Dynamic Asset Allocation Portfolio: Class A (ALVDAA)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Dynamic Asset Allocation Portfolio: Class B (ALVDAB)*

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class B (ALVGIB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class A (ALVSVA)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)

ALGER AMERICAN FUNDS

Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)

ALLSPRING GLOBAL INVESTMENTS

Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)

Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)

Allspring Variable Trust - VT Index Asset Allocation Fund: Class 2 (WFVAA)*

Allspring Variable Trust - VT Discovery All Cap Growth Fund: Class 2 (WFVOG2)

Allspring Variable Trust - VT Small Cap Growth Fund: Class 2 (WFVSCG)

ALPS FUNDS

ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)

ALPS Variable Investment Trust - ALPS Global Opportunity Portfolio: Class III (ARLPE3)