FINANCIAL STATEMENTS

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Years Ended December 31, 2024 and 2023

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Financial Statements

Years Ended December 31, 2024 and 2023

Contents

Report of Independent Registered Public Accounting Firm	1
Financial Statements
Statements of Assets and Liabilities	8
Statements of Operations and Changes in Net Assets	10
Notes to Financial Statements	28

      Ernst & Young LLP 155 North Wacker Drive Chicago, IL 60606-1787 Tel: +1 312 879 2000 Fax: +1 312 879 4000 ey.com

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Transamerica Life Insurance Company and

Contract Owners of Merrill Lynch Life Variable Annuity Separate Account A

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of each of the subaccounts listed in the table below that comprise Merrill Lynch Life Variable Annuity Separate Account A (the Separate Account), as of December 31, 2024, the related statements of operations and changes in net assets for each of the periods indicated in the table below, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each subaccount as of December 31, 2024, the results of its operations and changes in its net assets for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

Subaccounts
AB Discovery Value Class A Shares (1)	Janus Henderson - Forty Service Shares (1)
AB International Value Class A Shares (1)	LVIP American Century Ultra Standard Class II Shares (2)
AB Large Cap Growth Class A Shares (1)	MFS® Growth Initial Class (1)
AB Relative Value Class A Shares (1)	PIMCO CommodityRealReturn® Strategy Administrative Class (1)
AB Sustainable Global Thematic Growth Class A Shares (1)	PIMCO Low Duration Administrative Class (1)
American Funds - Asset Allocation Class 2 Shares (1)	PIMCO Real Return Administrative Class (1)
American Funds - Growth Class 2 Shares (1)	PIMCO Total Return Administrative Class (1)
American Funds - Growth-Income Class 2 Shares (1)	Pioneer High Yield VCT Class II Shares (1)

1

      Ernst & Young LLP 155 North Wacker Drive Chicago, IL 60606-1787 Tel: +1 312 879 2000 Fax: +1 312 879 4000 ey.com

American Funds - International Class 2 Shares (1)	TA Aegon Sustainable Equity Income Service Class (1)
American Funds - The Bond Fund of America Class 2 Shares (1)	TA BlackRock iShares Active Asset Allocation - Conservative Service Class (1)
BlackRock Advantage Large Cap Core V.I. Class I Shares (1)	TA BlackRock iShares Active Asset Allocation - Moderate Service Class (1)
BlackRock Advantage Large Cap Value V.I. Class I Shares (1)	TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class (1)
BlackRock Advantage SMID Cap V.I. Class I Shares (1)	TA BlackRock iShares Dynamic Allocation - Balanced Service Class (1)
BlackRock Basic Value V.I. Class I Shares (1)	TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class (1)
BlackRock Equity Dividend V.I. Class I Shares (1)	TA BlackRock iShares Edge 40 Service Class (1)
BlackRock Global Allocation V.I. Class I Shares (1)	TA BlackRock iShares Tactical - Balanced Service Class (1)
BlackRock Government Money Market V.I. Class I Shares (1)	TA BlackRock iShares Tactical - Conservative Service Class (1)
BlackRock High Yield V.I. Class I Shares (1)	TA BlackRock iShares Tactical - Growth Service Class (1)
BlackRock International V.I. Class I Shares (1)	TA Goldman Sachs Managed Risk - Balanced ETF Service Class (1)
BlackRock Large Cap Focus Growth V.I. Class I Shares (1)	TA Goldman Sachs Managed Risk - Conservative ETF Service Class (1)
BlackRock Managed Volatility V.I. Class I Shares (1)	TA Goldman Sachs Managed Risk - Growth ETF Service Class (1)
BlackRock S&P 500 Index V.I. Class I Shares (1)	TA International Focus Initial Class (1)
BlackRock Total Return V.I. Class I Shares (1)	TA Janus Balanced Service Class (1)
Davis Equity (1)	TA Janus Mid-Cap Growth Service Class (1)
Eaton Vance VT Floating-Rate Income (1)	TA JPMorgan Enhanced Index Initial Class (1)
Federated Hermes Kaufmann II Primary Shares (1)	TA Market Participation Strategy Service Class (1)
Federated Hermes Managed Volatility II Primary Shares (1)	TA Morgan Stanley Global Allocation Service Class (1)
Franklin Templeton Foreign Class 2 Shares (1)	TA Multi-Managed Balanced Service Class (1)
Franklin Templeton Growth Class 2 Shares (1)	TA Small/Mid Cap Value Service Class (1)

2

      Ernst & Young LLP 155 North Wacker Drive Chicago, IL 60606-1787 Tel: +1 312 879 2000 Fax: +1 312 879 4000 ey.com

Invesco V.I. American Franchise Series I Shares (1)	TA T. Rowe Price Small Cap Initial Class (1)
Invesco V.I. American Value Series I Shares (1)	TA TSW International Equity Service Class (1)
Invesco V.I. Comstock Series I Shares (1)	TA WMC US Growth Initial Class (1)
Invesco V.I. EQV International Equity Series I Shares (1)	TA WMC US Growth Service Class (1)
Invesco V.I. Main Street Series II Shares (1)	Wanger Acorn (1)
Invesco V.I. Main Street Mid Cap Series I Shares (1)	Wanger International (1)
Janus Henderson - Enterprise Service Shares (1)
(1) Statements of operations and changes in net assets for the year ended December 31, 2024 (2) Statements of operations and changes in net assets for the period April 26, 2024 (commencement of operations) through December 31, 2024

Basis for Opinion

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

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2024, by correspondence with the fund companies or their transfer agents, as applicable. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Ernst & Young LLP

3

      Ernst & Young LLP 155 North Wacker Drive Chicago, IL 60606-1787 Tel: +1 312 879 2000 Fax: +1 312 879 4000 ey.com

We have served as the auditor of the Separate Account since 2024.

Chicago, IL

April 18, 2025

4

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Transamerica Life Insurance Company and the Contract Owners of Merrill Lynch Life Variable Annuity Separate Account A

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities of each of the subaccounts of Merrill Lynch Life Variable Annuity Separate Account A indicated in the table below as of December 31, 2023, and the related statements of operations and changes in net assets for each of the periods indicated in the table below, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the subaccounts of Merrill Lynch Life Variable Annuity Separate Account A as of December 31, 2023, and the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

AB Discovery Value Class A Shares (1)	Invesco V.I. Main Street Mid Cap Series I Shares (1)
AB International Value Class A Shares (1)	Janus Henderson - Enterprise Service Shares (1)
AB Large Cap Growth Class A Shares (1)	Janus Henderson - Forty Service Shares (1)
AB Relative Value Class A Shares (1)	MFS® Growth Initial Class (1)
AB Sustainable Global Thematic Growth Class A Shares (1)	PIMCO CommodityRealReturn® Strategy Administrative Class (1)
American Century VP Ultra® Class I Shares (1)	PIMCO Low Duration Administrative Class (1)
American Funds - Asset Allocation Class 2 Shares (1)	PIMCO Real Return Administrative Class (1)
American Funds - Growth Class 2 Shares (1)	PIMCO Total Return Administrative Class (1)
American Funds - Growth-Income Class 2 Shares (1)	Pioneer High Yield VCT Class II Shares (1)
American Funds - International Class 2 Shares (1)	TA Aegon Sustainable Equity Income Service Class (1)
American Funds - The Bond Fund of America Class 2 Shares (1)	TA BlackRock iShares Active Asset Allocation - Conservative Service Class (1)
BlackRock Advantage Large Cap Core V.I. Class I Shares (1)	TA BlackRock iShares Active Asset Allocation - Moderate Service Class (1)
BlackRock Advantage Large Cap Value V.I. Class I Shares (1)	TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class (1)
BlackRock Advantage SMID Cap V.I. Class I Shares (1)	TA BlackRock iShares Dynamic Allocation - Balanced Service Class (1)
BlackRock Basic Value V.I. Class I Shares (1)	TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class (1)
BlackRock Capital Appreciation V.I. Class I Shares (1)	TA BlackRock iShares Edge 40 Service Class (1)
BlackRock Equity Dividend V.I. Class I Shares (1)	TA Goldman Sachs Managed Risk - Balanced ETF Service Class (1)

5

BlackRock Global Allocation V.I. Class I Shares (1)	TA Goldman Sachs Managed Risk - Conservative ETF Service Class (1)
BlackRock Government Money Market V.I. Class I Shares (1)	TA Goldman Sachs Managed Risk - Growth ETF Service Class (1)
BlackRock High Yield V.I. Class I Shares (1)	TA International Focus Initial Class (1)
BlackRock International V.I. Class I Shares (1)	TA Janus Balanced Service Class (1)
BlackRock Large Cap Focus Growth V.I. Class I Shares (1)	TA Janus Mid-Cap Growth Service Class (1)
BlackRock Managed Volatility V.I. Class I Shares (1)	TA JPMorgan Enhanced Index Initial Class (1)
BlackRock S&P 500 Index V.I. Class I Shares (1)	TA Market Participation Strategy Service Class (1)
BlackRock Total Return V.I. Class I Shares (1)	TA Morgan Stanley Global Allocation Service Class (1)
Davis Value (1)	TA Multi-Managed Balanced Service Class (1)
Eaton Vance VT Floating-Rate Income (1)	TA PIMCO Tactical - Balanced Service Class (1)
Federated Hermes Kaufmann II Primary Shares (1)	TA PIMCO Tactical - Conservative Service Class (1)
Federated Hermes Managed Volatility II Primary Shares (1)	TA PIMCO Tactical - Growth Service Class (1)
Franklin Templeton Foreign Class 2 Shares (1)	TA Small/Mid Cap Value Service Class (1)
Franklin Templeton Growth Class 2 Shares (1)	TA T. Rowe Price Small Cap Initial Class (1)
Invesco V.I. American Franchise Series I Shares (1)	TA TS&W International Equity Service Class (1)
Invesco V.I. American Value Series I Shares (1)	TA WMC US Growth Initial Class (2)
Invesco V.I. Comstock Series I Shares (1)	TA WMC US Growth Service Class (1)
Invesco V.I. Core Equity Series I Shares (1)	Wanger Acorn (1)
Invesco V.I. EQV International Equity Series I Shares (1)	Wanger International (1)
Invesco V.I. Main Street Series II Shares (1)

	(1)	Statements of operations and changes in net assets for the years ended December 31, 2023 and 2022
	(2)	Statements of operations and changes in net assets for the period April 28, 2023 (commencement of operations) through December 31, 2023

Basis for Opinions

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

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

6

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of investments owned as of December 31, 2023 by correspondence with the custodian, the transfer agents, or the investee mutual funds. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Chicago, Illinois

April 19, 2024

We have served as the auditor of one or more of the subaccounts of Merrill Lynch Life Variable Annuity Separate Account A since 2014.

7

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Assets and Liabilities

December 31, 2024

Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account		Net Assets		Units Outstanding		Range of Unit Values
AB Discovery Value Class A Shares		126,319.053	$	2,183,009	$	2,314,165	$	(12)	$	2,314,153		56,596	$	38.802493	$	43.092196
AB International Value Class A Shares		68,264.441		948,411		1,032,158		4		1,032,162		132,575		7.477143		8.204728
AB Large Cap Growth Class A Shares		1,170,457.623		74,418,132		104,533,570		(58)		104,533,512		1,070,622		37.706809		107.266407
AB Relative Value Class A Shares		206,115.604		5,825,379		6,529,742		4		6,529,746		157,198		40.957718		42.403325
AB Sustainable Global Thematic Growth Class A Shares		141,619.044		5,083,181		4,975,077		6		4,975,083		254,700		19.533088		19.533088
American Funds - Asset Allocation Class 2 Shares		426,689.061		9,966,383		10,944,574		30		10,944,604		322,119		31.942969		35.474047
American Funds - Growth Class 2 Shares		282,067.466		26,419,106		35,481,267		(53)		35,481,214		454,559		73.967711		82.142876
American Funds - Growth-Income Class 2 Shares		232,028.276		11,883,451		15,866,094		18		15,866,112		324,823		46.024500		51.112165
American Funds - International Class 2 Shares		2,442,301.789		45,444,734		43,350,857		56		43,350,913		1,963,739		20.956078		23.273138
American Funds - The Bond Fund of America Class 2 Shares		675,824.802		7,151,408		6,163,522		18		6,163,540		505,650		11.481221		12.750519
BlackRock Advantage Large Cap Core V.I. Class I Shares		6,284,972.588		141,378,920		144,680,069		6		144,680,075		1,116,032		50.586875		140.775367
BlackRock Advantage Large Cap Value V.I. Class I Shares		5,817,635.143		56,794,310		57,071,001		7		57,071,008		1,268,460		35.429209		46.070449
BlackRock Advantage SMID Cap V.I. Class I Shares		4,252,094.074		96,551,009		100,179,336		(24)		100,179,312		799,711		37.987234		133.311498
BlackRock Basic Value V.I. Class I Shares		11,153,714.983		147,502,179		144,440,609		(36)		144,440,573		1,815,639		32.532582		108.225558
BlackRock Equity Dividend V.I. Class I Shares		690,069.015		7,729,212		7,287,129		2		7,287,131		77,020		94.613539		94.613539
BlackRock Global Allocation V.I. Class I Shares		14,822,749.831		249,194,116		244,278,917		(101)		244,278,816		5,019,442		26.626247		59.000535
BlackRock Government Money Market V.I. Class I Shares		90,494,744.074		90,494,743		90,494,744		(558)		90,494,186		6,929,332		9.492191		14.068584
BlackRock High Yield V.I. Class I Shares		7,011,333.401		49,863,582		48,448,314		276,730		48,725,044		1,215,054		23.282399		52.515561
BlackRock International V.I. Class I Shares		4,547,108.026		48,911,450		45,789,378		(12)		45,789,366		1,833,441		18.457627		25.688152
BlackRock Large Cap Focus Growth V.I. Class I Shares		3,819,812.384		68,739,902		88,657,845		(17)		88,657,828		1,457,841		60.345676		73.032170
BlackRock Managed Volatility V.I. Class I Shares		337,068.712		4,518,210		4,988,617		(15)		4,988,602		157,476		31.678494		31.678494
BlackRock S&P 500 Index V.I. Class I Shares		4,662,896.911		120,462,233		163,481,166		(73)		163,481,093		2,151,876		39.151725		84.888653
BlackRock Total Return V.I. Class I Shares		7,044,736.762		81,304,059		69,883,789		261,714		70,145,503		3,971,918		12.364601		25.862382
Davis Equity		9,601,990.549		63,944,732		55,787,565		32		55,787,597		1,479,644		33.595354		42.615795
Eaton Vance VT Floating-Rate Income		300,661.477		2,662,984		2,588,695		(388)		2,588,307		158,262		15.540064		17.258811
Federated Hermes Kaufmann II Primary Shares		964,327.698		18,426,310		18,939,396		(13)		18,939,383		424,575		42.170333		46.834124
Federated Hermes Managed Volatility II Primary Shares		123,446.713		1,202,096		1,257,922		1		1,257,923		95,739		12.811164		13.276465
Franklin Templeton Foreign Class 2 Shares		80,762.275		1,094,396		1,111,289		-		1,111,289		65,144		16.204743		17.997485
Franklin Templeton Growth Class 2 Shares		98,928.409		1,046,020		1,234,627		2		1,234,629		63,316		18.688644		20.755388
Invesco V.I. American Franchise Series I Shares		273,170.335		16,269,696		21,725,237		19		21,725,256		500,022		26.779506		55.209786
Invesco V.I. American Value Series I Shares		23,911.746		388,820		422,281		-		422,281		28,767		14.538905		14.864802
Invesco V.I. Comstock Series I Shares		2,961,069.536		51,844,963		61,353,361		(61)		61,353,300		1,480,905		37.642240		42.431436
Invesco V.I. EQV International Equity Series I Shares		154,394.490		5,362,951		5,175,303		40		5,175,343		295,901		16.639111		29.996574
Invesco V.I. Main Street Series II Shares		28,315.792		546,530		560,936		(4)		560,932		12,385		42.595754		47.305320
Invesco V.I. Main Street Mid Cap Series I Shares		179,467.684		1,753,675		2,002,859		(12)		2,002,847		60,072		31.639266		35.137758
Janus Henderson - Enterprise Service Shares		2,522.629		173,294		188,491		(41)		188,450		3,779		47.537856		52.162782
Janus Henderson - Forty Service Shares		116,457.877		4,909,872		5,946,339		(1)		5,946,338		96,317		59.593428		65.390589
LVIP American Century Ultra Standard Class II Shares		349,094.864		9,003,296		10,595,378		(4)		10,595,374		880,263		11.992982		12.046506
MFS® Growth Initial Class		1,215,446.082		74,761,658		89,104,352		28		89,104,380		1,003,909		34.364576		102.590354
PIMCO CommodityRealReturn® Strategy Administrative Class		1,013,940.706		6,382,742		5,525,977		4		5,525,981		684,993		7.671867		8.520582
PIMCO Low Duration Administrative Class		3,222,406.276		32,238,541		31,063,997		(415)		31,063,582		2,631,176		11.282197		12.379568
PIMCO Real Return Administrative Class		1,632,518.223		20,698,504		18,790,285		(374)		18,789,911		1,306,910		13.677537		15.190138
PIMCO Total Return Administrative Class		11,530,393.002		120,828,896		104,234,753		(300)		104,234,453		6,273,290		14.328546		19.277139

See accompanying notes. 8

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Assets and Liabilities

December 31, 2024

Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account		Net Assets		Units Outstanding		Range of Unit Values
Pioneer High Yield VCT Class II Shares		159,928.977	$	1,389,672	$	1,343,403	$	(124)	$	1,343,279		66,740	$	19.065377	$	21.173477
TA Aegon Sustainable Equity Income Service Class		1,544,670.085		26,151,184		32,391,732		(15)		32,391,717		1,926,483		16.369145		17.352026
TA BlackRock iShares Active Asset Allocation - Conservative Service Class		400,641.356		3,925,567		3,737,984		(2)		3,737,982		287,467		13.003155		13.003155
TA BlackRock iShares Active Asset Allocation - Moderate Service Class		284,112.145		3,105,346		2,994,542		-		2,994,542		217,462		13.770442		13.770442
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		98,866.226		1,033,961		1,127,075		-		1,127,075		78,627		14.334534		14.334534
TA BlackRock iShares Dynamic Allocation - Balanced Service Class		79,425.953		875,870		891,159		-		891,159		64,830		13.746120		13.746120
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class		21,366.849		267,968		275,846		-		275,846		17,373		15.878097		15.878097
TA BlackRock iShares Edge 40 Service Class		12,313.321		111,782		107,988		(2)		107,986		8,309		12.412898		13.552179
TA BlackRock iShares Tactical - Balanced Service Class		109,825.777		1,224,311		1,100,454		-		1,100,454		75,321		14.610215		14.610215
TA BlackRock iShares Tactical - Conservative Service Class		80,425.054		743,585		782,536		(3)		782,533		57,539		13.600000		13.600000
TA BlackRock iShares Tactical - Growth Service Class		43,870.357		487,915		453,619		1		453,620		26,799		16.926604		16.926604
TA Goldman Sachs Managed Risk - Balanced ETF Service Class		409,793.781		5,020,296		4,917,525		(3)		4,917,522		315,311		15.595772		15.595772
TA Goldman Sachs Managed Risk - Conservative ETF Service Class		327,229.871		3,914,488		3,684,608		7		3,684,615		269,977		13.647873		13.647873
TA Goldman Sachs Managed Risk - Growth ETF Service Class		308,850.698		3,204,592		3,514,721		3		3,514,724		181,512		19.363587		19.363587
TA International Focus Initial Class		1,862,544.703		15,658,992		15,123,863		(16)		15,123,847		1,254,810		12.052696		12.052696
TA Janus Balanced Service Class		156,907.368		2,525,225		2,753,724		(2)		2,753,722		156,547		17.223089		17.973462
TA Janus Mid-Cap Growth Service Class		481,663.113		15,268,860		14,300,578		(25)		14,300,553		469,901		29.457153		31.554831
TA JPMorgan Enhanced Index Initial Class		5,489,694.845		143,261,926		156,840,582		17		156,840,599		6,353,718		23.972191		24.967290
TA Market Participation Strategy Service Class		108,730.808		1,303,950		1,230,833		(66)		1,230,767		61,451		20.028577		20.028577
TA Morgan Stanley Global Allocation Service Class		13,919.207		199,869		180,671		-		180,671		13,434		13.449016		13.490779
TA Multi-Managed Balanced Service Class		53,823.448		806,332		864,405		-		864,405		49,721		17.061180		17.804513
TA Small/Mid Cap Value Service Class		1,215,970.274		20,199,200		23,018,317		10		23,018,327		729,193		30.267324		33.045672
TA T. Rowe Price Small Cap Initial Class		724,966.634		9,092,604		8,989,586		(7)		8,989,579		501,927		17.709367		18.444675
TA TSW International Equity Service Class		152,664.817		2,022,760		2,193,793		3		2,193,796		183,713		11.709296		12.195566
TA WMC US Growth Initial Class		25,004.084		772,316		1,051,672		(1)		1,051,671		21,941		45.507466		49.683951
TA WMC US Growth Service Class		767,150.272		25,639,860		30,363,808		(9)		30,363,799		642,117		45.325364		49.485132
Wanger Acorn		545,373.167		7,502,484		8,300,580		11		8,300,591		208,042		37.991760		42.193817
Wanger International		947,160.467		19,005,103		17,465,639		14		17,465,653		1,200,028		13.907651		15.260809

See accompanying notes. 9

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	AB Discovery Value Class A Shares			AB International Value Class A Shares			AB Large Cap Growth Class A Shares			AB Relative Value Class A Shares
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	2,351,549		$	1,128,128		$	80,885,354		$	6,747,082
Investment Income:
Reinvested Dividends		25,641			8,840			-			95,260
Investment Expense:
Mortality and Expense Risk and Administrative Charges		38,672			18,728			1,193,353			100,700
Net Investment Income (Loss)		(13,031	)		(9,888	)		(1,193,353	)		(5,440)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		201,940			-			5,833,794			500,948
Realized Gain (Loss) on Investments		(39,323	)		1,214			5,624,044			(152,110)
Net Realized Capital Gains (Losses) on Investments		162,617			1,214			11,457,838			348,838
Net Change in Unrealized Appreciation (Depreciation)		197,615			147,590			14,889,862			265,790
Net Gain (Loss) on Investment		360,232			148,804			26,347,700			614,628
Net Increase (Decrease) in Net Assets Resulting from Operations		347,201			138,916			25,154,347			609,188
Increase (Decrease) in Net Assets from Contract Transactions		(190,554	)		(155,402	)		(11,868,064	)		(1,004,774)
Total Increase (Decrease) in Net Assets		156,647			(16,486	)		13,286,283			(395,586)
Net Assets as of December 31, 2023:	$	2,508,196		$	1,111,642		$	94,171,637		$	6,351,496
Investment Income:
Reinvested Dividends		20,744			29,040			55,769			95,465
Investment Expense:
Mortality and Expense Risk and Administrative Charges		39,818			18,453			1,399,298			106,461
Net Investment Income (Loss)		(19,074	)		10,587			(1,343,529	)		(10,996)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		118,112			-			4,132,644			226,782
Realized Gain (Loss) on Investments		29,965			31,875			5,927,713			45,885
Net Realized Capital Gains (Losses) on Investments		148,077			31,875			10,060,357			272,667
Net Change in Unrealized Appreciation (Depreciation)		64,526			(2,914	)		12,469,480			444,580
Net Gain (Loss) on Investment		212,603			28,961			22,529,837			717,247
Net Increase (Decrease) in Net Assets Resulting from Operations		193,529			39,548			21,186,308			706,251
Increase (Decrease) in Net Assets from Contract Transactions		(387,572	)		(119,028	)		(10,824,433	)		(528,001)
Total Increase (Decrease) in Net Assets		(194,043	)		(79,480	)		10,361,875			178,250
Net Assets as of December 31, 2024:	$	2,314,153		$	1,032,162		$	104,533,512		$	6,529,746

See Accompanying Notes. ⁽¹⁾ See Footnote 1 10

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	AB Sustainable Global Thematic Growth Class A Shares			American Funds - Asset Allocation Class 2 Shares			American Funds - Growth Class 2 Shares			American Funds - Growth-Income Class 2 Shares
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	5,978,240		$	11,171,321		$	27,801,046		$	15,062,572
Investment Income:
Reinvested Dividends		16,271			247,669			109,312			213,607
Investment Expense:
Mortality and Expense Risk and Administrative Charges		78,904			193,562			542,455			276,164
Net Investment Income (Loss)		(62,633	)		54,107			(433,143	)		(62,557)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		336,628			435,789			1,746,271			837,043
Realized Gain (Loss) on Investments		138,659			42,170			945,982			348,138
Net Realized Capital Gains (Losses) on Investments		475,287			477,959			2,692,253			1,185,181
Net Change in Unrealized Appreciation (Depreciation)		382,441			778,488			7,181,726			2,279,105
Net Gain (Loss) on Investment		857,728			1,256,447			9,873,979			3,464,286
Net Increase (Decrease) in Net Assets Resulting from Operations		795,095			1,310,554			9,440,836			3,401,729
Increase (Decrease) in Net Assets from Contract Transactions		(880,536	)		(783,669	)		(4,206,775	)		(1,643,398)
Total Increase (Decrease) in Net Assets		(85,441	)		526,885			5,234,061			1,758,331
Net Assets as of December 31, 2023:	$	5,892,799		$	11,698,206		$	33,035,107		$	16,820,903
Investment Income:
Reinvested Dividends		-			233,379			113,565			171,463
Investment Expense:
Mortality and Expense Risk and Administrative Charges		75,536			197,910			618,482			289,898
Net Investment Income (Loss)		(75,536	)		35,469			(504,917	)		(118,435)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		14,840			482,269			798,289			734,705
Realized Gain (Loss) on Investments		185,718			395,120			2,582,840			1,277,736
Net Realized Capital Gains (Losses) on Investments		200,558			877,389			3,381,129			2,012,441
Net Change in Unrealized Appreciation (Depreciation)		155,816			622,175			6,026,335			1,408,944
Net Gain (Loss) on Investment		356,374			1,499,564			9,407,464			3,421,385
Net Increase (Decrease) in Net Assets Resulting from Operations		280,838			1,535,033			8,902,547			3,302,950
Increase (Decrease) in Net Assets from Contract Transactions		(1,198,554	)		(2,288,635	)		(6,456,440	)		(4,257,741)
Total Increase (Decrease) in Net Assets		(917,716	)		(753,602	)		2,446,107			(954,791)
Net Assets as of December 31, 2024:	$	4,975,083		$	10,944,604		$	35,481,214		$	15,866,112

See Accompanying Notes. ⁽¹⁾ See Footnote 1 11

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	American Funds - International Class 2 Shares			American Funds - The Bond Fund of America Class 2 Shares			BlackRock Advantage Large Cap Core V.I. Class I Shares			BlackRock Advantage Large Cap Value V.I. Class I Shares
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	45,489,770		$	6,032,550		$	123,592,493		$	56,198,269
Investment Income:
Reinvested Dividends		589,957			211,188			1,060,545			841,068
Investment Expense:
Mortality and Expense Risk and Administrative Charges		818,038			107,512			1,723,404			750,389
Net Investment Income (Loss)		(228,081	)		103,676			(662,859	)		90,679
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-			2,084,608
Realized Gain (Loss) on Investments		(34,586	)		(168,935	)		(12,089,508	)		(1,930,365)
Net Realized Capital Gains (Losses) on Investments		(34,586	)		(168,935	)		(12,089,508	)		154,243
Net Change in Unrealized Appreciation (Depreciation)		6,329,524			250,721			39,603,344			5,996,862
Net Gain (Loss) on Investment		6,294,938			81,786			27,513,836			6,151,105
Net Increase (Decrease) in Net Assets Resulting from Operations		6,066,857			185,462			26,850,977			6,241,784
Increase (Decrease) in Net Assets from Contract Transactions		(4,845,530	)		(6,263	)		(18,519,526	)		(6,520,821)
Total Increase (Decrease) in Net Assets		1,221,327			179,199			8,331,451			(279,037)
Net Assets as of December 31, 2023:	$	46,711,097		$	6,211,749		$	131,923,944		$	55,919,232
Investment Income:
Reinvested Dividends		524,017			256,057			1,023,403			892,573
Investment Expense:
Mortality and Expense Risk and Administrative Charges		822,244			107,077			1,940,862			808,120
Net Investment Income (Loss)		(298,227	)		148,980			(917,459	)		84,453
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			14,556,166			7,959,652
Realized Gain (Loss) on Investments		(269,026	)		(119,235	)		(1,417,362	)		222,542
Net Realized Capital Gains (Losses) on Investments		(269,026	)		(119,235	)		13,138,804			8,182,194
Net Change in Unrealized Appreciation (Depreciation)		1,381,623			(70,672	)		17,527,015			(317,000)
Net Gain (Loss) on Investment		1,112,597			(189,907	)		30,665,819			7,865,194
Net Increase (Decrease) in Net Assets Resulting from Operations		814,370			(40,927	)		29,748,360			7,949,647
Increase (Decrease) in Net Assets from Contract Transactions		(4,174,554	)		(7,282	)		(16,992,229	)		(6,797,871)
Total Increase (Decrease) in Net Assets		(3,360,184	)		(48,209	)		12,756,131			1,151,776
Net Assets as of December 31, 2024:	$	43,350,913		$	6,163,540		$	144,680,075		$	57,071,008

See Accompanying Notes. ⁽¹⁾ See Footnote 1 12

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	BlackRock Advantage SMID Cap V.I. Class I Shares			BlackRock Basic Value V.I. Class I Shares			BlackRock Equity Dividend V.I. Class I Shares			BlackRock Global Allocation V.I. Class I Shares
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	96,062,599		$	151,076,769		$	8,072,962		$	258,280,116
Investment Income:
Reinvested Dividends		899,270			2,562,230			156,084			5,442,671
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,289,016			2,083,256			104,059			3,558,635
Net Investment Income (Loss)		(389,746	)		478,974			52,025			1,884,036
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			5,762,372			377,090			-
Realized Gain (Loss) on Investments		(4,608,136	)		(5,177,769	)		(28,980	)		2,294,003
Net Realized Capital Gains (Losses) on Investments		(4,608,136	)		584,603			348,110			2,294,003
Net Change in Unrealized Appreciation (Depreciation)		20,285,942			19,783,130			406,059			22,817,576
Net Gain (Loss) on Investment		15,677,806			20,367,733			754,169			25,111,579
Net Increase (Decrease) in Net Assets Resulting from Operations		15,288,060			20,846,707			806,194			26,995,615
Increase (Decrease) in Net Assets from Contract Transactions		(11,077,673	)		(21,266,157	)		(877,457	)		(30,591,305)
Total Increase (Decrease) in Net Assets		4,210,387			(419,450	)		(71,263	)		(3,595,690)
Net Assets as of December 31, 2023:	$	100,272,986		$	150,657,319		$	8,001,699		$	254,684,426
Investment Income:
Reinvested Dividends		768,711			2,996,577			194,743			3,284,115
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,363,096			2,124,747			105,892			3,565,334
Net Investment Income (Loss)		(594,385	)		871,830			88,851			(281,219)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			10,770,646			554,782			15,387,328
Realized Gain (Loss) on Investments		(2,752,792	)		466,546			87,122			(286,306)
Net Realized Capital Gains (Losses) on Investments		(2,752,792	)		11,237,192			641,904			15,101,022
Net Change in Unrealized Appreciation (Depreciation)		13,275,614			875,020			(73,592	)		4,091,016
Net Gain (Loss) on Investment		10,522,822			12,112,212			568,312			19,192,038
Net Increase (Decrease) in Net Assets Resulting from Operations		9,928,437			12,984,042			657,163			18,910,819
Increase (Decrease) in Net Assets from Contract Transactions		(10,022,111	)		(19,200,788	)		(1,371,731	)		(29,316,429)
Total Increase (Decrease) in Net Assets		(93,674	)		(6,216,746	)		(714,568	)		(10,405,610)
Net Assets as of December 31, 2024:	$	100,179,312		$	144,440,573		$	7,287,131		$	244,278,816

See Accompanying Notes. ⁽¹⁾ See Footnote 1 13

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	BlackRock Government Money Market V.I. Class I Shares			BlackRock High Yield V.I. Class I Shares			BlackRock International V.I. Class I Shares			BlackRock Large Cap Focus Growth V.I. Class I Shares
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	77,499,210		$	53,457,125		$	48,286,775		$	56,899,032
Investment Income:
Reinvested Dividends		4,796,725			3,409,799			416,559			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,387,498			742,621			685,075			924,878
Net Investment Income (Loss)		3,409,227			2,667,178			(268,516	)		(924,878)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-			1,293,147
Realized Gain (Loss) on Investments		-			(1,004,503	)		(171,934	)		1,574,221
Net Realized Capital Gains (Losses) on Investments		-			(1,004,503	)		(171,934	)		2,867,368
Net Change in Unrealized Appreciation (Depreciation)		-			4,018,619			8,415,437			25,260,094
Net Gain (Loss) on Investment		-			3,014,116			8,243,503			28,127,462
Net Increase (Decrease) in Net Assets Resulting from Operations		3,409,227			5,681,294			7,974,987			27,202,584
Increase (Decrease) in Net Assets from Contract Transactions		22,957,719			(7,713,243	)		(5,811,587	)		(9,036,579)
Total Increase (Decrease) in Net Assets		26,366,946			(2,031,949	)		2,163,400			18,166,005
Net Assets as of December 31, 2023:	$	103,866,156		$	51,425,176		$	50,450,175		$	75,065,037
Investment Income:
Reinvested Dividends		4,796,923			3,483,864			271,943			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,376,831			722,024			676,659			1,138,370
Net Investment Income (Loss)		3,420,092			2,761,840			(404,716	)		(1,138,370)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-			6,786,241
Realized Gain (Loss) on Investments		-			(694,201	)		426,869			4,135,116
Net Realized Capital Gains (Losses) on Investments		-			(694,201	)		426,869			10,921,357
Net Change in Unrealized Appreciation (Depreciation)		-			1,203,669			(450,769	)		11,401,056
Net Gain (Loss) on Investment		-			509,468			(23,900	)		22,322,413
Net Increase (Decrease) in Net Assets Resulting from Operations		3,420,092			3,271,308			(428,616	)		21,184,043
Increase (Decrease) in Net Assets from Contract Transactions		(16,792,062	)		(5,971,440	)		(4,232,193	)		(7,591,252)
Total Increase (Decrease) in Net Assets		(13,371,970	)		(2,700,132	)		(4,660,809	)		13,592,791
Net Assets as of December 31, 2024:	$	90,494,186		$	48,725,044		$	45,789,366		$	88,657,828

See Accompanying Notes. ⁽¹⁾ See Footnote 1 14

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	BlackRock Managed Volatility V.I. Class I Shares			BlackRock S&P 500 Index V.I. Class I Shares			BlackRock Total Return V.I. Class I Shares			Davis Equity
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	6,157,835		$	129,608,243		$	78,042,869		$	48,344,790
Investment Income:
Reinvested Dividends		463,732			1,865,688			2,972,495			666,429
Investment Expense:
Mortality and Expense Risk and Administrative Charges		76,408			1,903,010			1,130,890			731,384
Net Investment Income (Loss)		387,324			(37,322	)		1,841,605			(64,955)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			5,469,082			-			5,323,589
Realized Gain (Loss) on Investments		(29,957	)		4,659,691			(1,763,299	)		(4,357,081)
Net Realized Capital Gains (Losses) on Investments		(29,957	)		10,128,773			(1,763,299	)		966,508
Net Change in Unrealized Appreciation (Depreciation)		(258,808	)		20,042,991			3,060,717			12,987,589
Net Gain (Loss) on Investment		(288,765	)		30,171,764			1,297,418			13,954,097
Net Increase (Decrease) in Net Assets Resulting from Operations		98,559			30,134,442			3,139,023			13,889,142
Increase (Decrease) in Net Assets from Contract Transactions		(878,369	)		(11,265,377	)		(5,506,459	)		(7,349,961)
Total Increase (Decrease) in Net Assets		(779,810	)		18,869,065			(2,367,436	)		6,539,181
Net Assets as of December 31, 2023:	$	5,378,025		$	148,477,308		$	75,675,433		$	54,883,971
Investment Income:
Reinvested Dividends		13,209			2,005,103			3,257,247			604,939
Investment Expense:
Mortality and Expense Risk and Administrative Charges		70,721			2,223,164			1,092,936			818,332
Net Investment Income (Loss)		(57,512	)		(218,061	)		2,164,311			(213,393)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			6,693,444			-			11,266,995
Realized Gain (Loss) on Investments		28,029			9,013,783			(1,954,331	)		(3,157,584)
Net Realized Capital Gains (Losses) on Investments		28,029			15,707,227			(1,954,331	)		8,109,411
Net Change in Unrealized Appreciation (Depreciation)		554,303			17,265,682			(279,620	)		743,800
Net Gain (Loss) on Investment		582,332			32,972,909			(2,233,951	)		8,853,211
Net Increase (Decrease) in Net Assets Resulting from Operations		524,820			32,754,848			(69,640	)		8,639,818
Increase (Decrease) in Net Assets from Contract Transactions		(914,243	)		(17,751,063	)		(5,460,290	)		(7,736,192)
Total Increase (Decrease) in Net Assets		(389,423	)		15,003,785			(5,529,930	)		903,626
Net Assets as of December 31, 2024:	$	4,988,602		$	163,481,093		$	70,145,503		$	55,787,597

See Accompanying Notes. ⁽¹⁾ See Footnote 1 15

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	Eaton Vance VT Floating-Rate Income			Federated Hermes Kaufmann II Primary Shares			Federated Hermes Managed Volatility II Primary Shares			Franklin Templeton Foreign Class 2 Shares
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	2,604,405		$	20,547,292		$	1,440,632		$	1,161,191
Investment Income:
Reinvested Dividends		215,667			-			26,892			39,786
Investment Expense:
Mortality and Expense Risk and Administrative Charges		40,666			272,085			19,026			19,193
Net Investment Income (Loss)		175,001			(272,085	)		7,866			20,593
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-			-
Realized Gain (Loss) on Investments		(32,706	)		(732,342	)		(87,200	)		1,311
Net Realized Capital Gains (Losses) on Investments		(32,706	)		(732,342	)		(87,200	)		1,311
Net Change in Unrealized Appreciation (Depreciation)		96,876			3,469,518			163,943			192,888
Net Gain (Loss) on Investment		64,170			2,737,176			76,743			194,199
Net Increase (Decrease) in Net Assets Resulting from Operations		239,171			2,465,091			84,609			214,792
Increase (Decrease) in Net Assets from Contract Transactions		(276,435	)		(3,940,623	)		(302,713	)		(77,699)
Total Increase (Decrease) in Net Assets		(37,264	)		(1,475,532	)		(218,104	)		137,093
Net Assets as of December 31, 2023:	$	2,567,141		$	19,071,760		$	1,222,528		$	1,298,284
Investment Income:
Reinvested Dividends		207,532			162,714			27,225			29,465
Investment Expense:
Mortality and Expense Risk and Administrative Charges		40,996			272,639			17,823			18,979
Net Investment Income (Loss)		166,536			(109,925	)		9,402			10,486
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			536,939			-			-
Realized Gain (Loss) on Investments		(26,440	)		(326,099	)		(20,762	)		17,487
Net Realized Capital Gains (Losses) on Investments		(26,440	)		210,840			(20,762	)		17,487
Net Change in Unrealized Appreciation (Depreciation)		14,124			2,650,573			172,271			(52,837)
Net Gain (Loss) on Investment		(12,316	)		2,861,413			151,509			(35,350)
Net Increase (Decrease) in Net Assets Resulting from Operations		154,220			2,751,488			160,911			(24,864)
Increase (Decrease) in Net Assets from Contract Transactions		(133,054	)		(2,883,865	)		(125,516	)		(162,131)
Total Increase (Decrease) in Net Assets		21,166			(132,377	)		35,395			(186,995)
Net Assets as of December 31, 2024:	$	2,588,307		$	18,939,383		$	1,257,923		$	1,111,289

See Accompanying Notes. ⁽¹⁾ See Footnote 1 16

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	Franklin Templeton Growth Class 2 Shares			Invesco V.I. American Franchise Series I Shares			Invesco V.I. American Value Series I Shares			Invesco V.I. Comstock Series I Shares
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	1,209,755		$	14,724,138		$	208,139		$	62,029,656
Investment Income:
Reinvested Dividends		40,893			-			1,359			1,088,387
Investment Expense:
Mortality and Expense Risk and Administrative Charges		19,441			225,269			3,440			881,375
Net Investment Income (Loss)		21,452			(225,269	)		(2,081	)		207,012
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			357,510			44,609			6,699,745
Realized Gain (Loss) on Investments		(60,710	)		500,502			(7,015	)		1,630,751
Net Realized Capital Gains (Losses) on Investments		(60,710	)		858,012			37,594			8,330,496
Net Change in Unrealized Appreciation (Depreciation)		255,241			4,741,765			(6,503	)		(2,382,206)
Net Gain (Loss) on Investment		194,531			5,599,777			31,091			5,948,290
Net Increase (Decrease) in Net Assets Resulting from Operations		215,983			5,374,508			29,010			6,155,302
Increase (Decrease) in Net Assets from Contract Transactions		(169,847	)		(2,102,836	)		(5,738	)		(6,131,490)
Total Increase (Decrease) in Net Assets		46,136			3,271,672			23,272			23,812
Net Assets as of December 31, 2023:	$	1,255,891		$	17,995,810		$	231,411		$	62,053,468
Investment Income:
Reinvested Dividends		12,003			-			3,666			1,080,510
Investment Expense:
Mortality and Expense Risk and Administrative Charges		20,354			282,063			4,945			920,401
Net Investment Income (Loss)		(8,351	)		(282,063	)		(1,279	)		160,109
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		4,108			-			8,499			4,368,422
Realized Gain (Loss) on Investments		746			480,533			(3,791	)		2,080,383
Net Realized Capital Gains (Losses) on Investments		4,854			480,533			4,708			6,448,805
Net Change in Unrealized Appreciation (Depreciation)		50,663			5,505,302			72,809			1,370,429
Net Gain (Loss) on Investment		55,517			5,985,835			77,517			7,819,234
Net Increase (Decrease) in Net Assets Resulting from Operations		47,166			5,703,772			76,238			7,979,343
Increase (Decrease) in Net Assets from Contract Transactions		(68,428	)		(1,974,326	)		114,632			(8,679,511)
Total Increase (Decrease) in Net Assets		(21,262	)		3,729,446			190,870			(700,168)
Net Assets as of December 31, 2024:	$	1,234,629		$	21,725,256		$	422,281		$	61,353,300

See Accompanying Notes. ⁽¹⁾ See Footnote 1 17

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	Invesco V.I. EQV International Equity Series I Shares			Invesco V.I. Main Street Series II Shares			Invesco V.I. Main Street Mid Cap Series I Shares			Janus Henderson - Enterprise Service Shares
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	5,231,382		$	479,888		$	1,758,171		$	223,282
Investment Income:
Reinvested Dividends		10,512			2,545			5,007			161
Investment Expense:
Mortality and Expense Risk and Administrative Charges		84,872			7,927			28,540			3,291
Net Investment Income (Loss)		(74,360	)		(5,382	)		(23,533	)		(3,130)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		3,936			36,342			-			18,027
Realized Gain (Loss) on Investments		(45,495	)		(66,474	)		(120,282	)		(12,390)
Net Realized Capital Gains (Losses) on Investments		(41,559	)		(30,132	)		(120,282	)		5,637
Net Change in Unrealized Appreciation (Depreciation)		938,702			134,395			354,011			26,599
Net Gain (Loss) on Investment		897,143			104,263			233,729			32,236
Net Increase (Decrease) in Net Assets Resulting from Operations		822,783			98,881			210,196			29,106
Increase (Decrease) in Net Assets from Contract Transactions		(620,555	)		(32,820	)		(163,868	)		(67,705)
Total Increase (Decrease) in Net Assets		202,228			66,061			46,328			(38,599)
Net Assets as of December 31, 2023:	$	5,433,610		$	545,949		$	1,804,499		$	184,683
Investment Income:
Reinvested Dividends		94,829			-			6,131			1,190
Investment Expense:
Mortality and Expense Risk and Administrative Charges		86,876			8,457			30,949			2,921
Net Investment Income (Loss)		7,953			(8,457	)		(24,818	)		(1,731)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		28,191			55,812			44,177			8,344
Realized Gain (Loss) on Investments		(4,094	)		(15,309	)		(15,108	)		4,865
Net Realized Capital Gains (Losses) on Investments		24,097			40,503			29,069			13,209
Net Change in Unrealized Appreciation (Depreciation)		(68,189	)		77,396			251,341			14,050
Net Gain (Loss) on Investment		(44,092	)		117,899			280,410			27,259
Net Increase (Decrease) in Net Assets Resulting from Operations		(36,139	)		109,442			255,592			25,528
Increase (Decrease) in Net Assets from Contract Transactions		(222,128	)		(94,459	)		(57,244	)		(21,761)
Total Increase (Decrease) in Net Assets		(258,267	)		14,983			198,348			3,767
Net Assets as of December 31, 2024:	$	5,175,343		$	560,932		$	2,002,847		$	188,450

See Accompanying Notes. ⁽¹⁾ See Footnote 1 18

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	Janus Henderson - Forty Service Shares			LVIP American Century Ultra Standard Class II Shares			MFS® Growth Initial Class			PIMCO CommodityRealReturn® Strategy Administrative Class
	Subaccount			Subaccount(1)			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	4,614,986		$	-		$	64,546,998		$	5,855,753
Investment Income:
Reinvested Dividends		6,198			-			-			900,290
Investment Expense:
Mortality and Expense Risk and Administrative Charges		83,005			-			977,875			93,600
Net Investment Income (Loss)		(76,807	)		-			(977,875	)		806,690
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			5,566,568			-
Realized Gain (Loss) on Investments		(43,623	)		-			3,238,976			(95,934)
Net Realized Capital Gains (Losses) on Investments		(43,623	)		-			8,805,544			(95,934)
Net Change in Unrealized Appreciation (Depreciation)		1,770,235			-			12,959,706			(1,253,528)
Net Gain (Loss) on Investment		1,726,612			-			21,765,250			(1,349,462)
Net Increase (Decrease) in Net Assets Resulting from Operations		1,649,805			-			20,787,375			(542,772)
Increase (Decrease) in Net Assets from Contract Transactions		(703,194	)		-			(7,655,923	)		(49,442)
Total Increase (Decrease) in Net Assets		946,611			-			13,131,452			(592,214)
Net Assets as of December 31, 2023:	$	5,561,597		$	-		$	77,678,450		$	5,263,539
Investment Income:
Reinvested Dividends		617			-			-			123,548
Investment Expense:
Mortality and Expense Risk and Administrative Charges		94,701			96,824			1,185,876			93,334
Net Investment Income (Loss)		(94,084	)		(96,824	)		(1,185,876	)		30,214
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		374,976			117,088			6,557,136			-
Realized Gain (Loss) on Investments		105,402			146,623			6,244,370			24,975
Net Realized Capital Gains (Losses) on Investments		480,378			263,711			12,801,506			24,975
Net Change in Unrealized Appreciation (Depreciation)		974,388			1,592,083			10,165,193			86,767
Net Gain (Loss) on Investment		1,454,766			1,855,794			22,966,699			111,742
Net Increase (Decrease) in Net Assets Resulting from Operations		1,360,682			1,758,970			21,780,823			141,956
Increase (Decrease) in Net Assets from Contract Transactions		(975,941	)		8,836,404			(10,354,893	)		120,486
Total Increase (Decrease) in Net Assets		384,741			10,595,374			11,425,930			262,442
Net Assets as of December 31, 2024:	$	5,946,338		$	10,595,374		$	89,104,380		$	5,525,981

See Accompanying Notes. ⁽¹⁾ See Footnote 1 19

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	PIMCO Low Duration Administrative Class			PIMCO Real Return Administrative Class			PIMCO Total Return Administrative Class			Pioneer High Yield VCT  Class II Shares
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	34,040,544		$	20,712,467		$	115,795,058		$	1,761,068
Investment Income:
Reinvested Dividends		1,210,768			603,785			3,997,249			91,785
Investment Expense:
Mortality and Expense Risk and Administrative Charges		554,417			332,593			1,656,564			27,616
Net Investment Income (Loss)		656,351			271,192			2,340,685			64,169
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-			-
Realized Gain (Loss) on Investments		(432,282	)		(244,862	)		(3,503,519	)		(61,320)
Net Realized Capital Gains (Losses) on Investments		(432,282	)		(244,862	)		(3,503,519	)		(61,320)
Net Change in Unrealized Appreciation (Depreciation)		830,243			340,157			5,862,280			147,480
Net Gain (Loss) on Investment		397,961			95,295			2,358,761			86,160
Net Increase (Decrease) in Net Assets Resulting from Operations		1,054,312			366,487			4,699,446			150,329
Increase (Decrease) in Net Assets from Contract Transactions		(2,598,082	)		(1,526,181	)		(9,243,952	)		(190,103)
Total Increase (Decrease) in Net Assets		(1,543,770	)		(1,159,694	)		(4,544,506	)		(39,774)
Net Assets as of December 31, 2023:	$	32,496,774		$	19,552,773		$	111,250,552		$	1,721,294
Investment Income:
Reinvested Dividends		1,298,043			518,718			4,392,710			82,498
Investment Expense:
Mortality and Expense Risk and Administrative Charges		538,637			325,460			1,619,033			23,899
Net Investment Income (Loss)		759,406			193,258			2,773,677			58,599
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-			-
Realized Gain (Loss) on Investments		(412,625	)		(233,567	)		(3,234,807	)		(64,366)
Net Realized Capital Gains (Losses) on Investments		(412,625	)		(233,567	)		(3,234,807	)		(64,366)
Net Change in Unrealized Appreciation (Depreciation)		534,370			143,855			1,625,923			102,607
Net Gain (Loss) on Investment		121,745			(89,712	)		(1,608,884	)		38,241
Net Increase (Decrease) in Net Assets Resulting from Operations		881,151			103,546			1,164,793			96,840
Increase (Decrease) in Net Assets from Contract Transactions		(2,314,343	)		(866,408	)		(8,180,892	)		(474,855)
Total Increase (Decrease) in Net Assets		(1,433,192	)		(762,862	)		(7,016,099	)		(378,015)
Net Assets as of December 31, 2024:	$	31,063,582		$	18,789,911		$	104,234,453		$	1,343,279

See Accompanying Notes. ⁽¹⁾ See Footnote 1 20

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	TA Aegon Sustainable Equity Income Service Class			TA BlackRock iShares Active Asset Allocation - Conservative Service Class			TA BlackRock iShares Active Asset Allocation - Moderate Service Class			TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	33,892,394		$	3,060,657		$	2,726,120		$	1,105,936
Investment Income:
Reinvested Dividends		639,926			53,130			42,862			19,209
Investment Expense:
Mortality and Expense Risk and Administrative Charges		546,917			46,893			38,470			17,707
Net Investment Income (Loss)		93,009			6,237			4,392			1,502
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-			-
Realized Gain (Loss) on Investments		(1,582,428	)		(86,656	)		(57,813	)		(9,742)
Net Realized Capital Gains (Losses) on Investments		(1,582,428	)		(86,656	)		(57,813	)		(9,742)
Net Change in Unrealized Appreciation (Depreciation)		2,918,844			365,099			377,062			202,886
Net Gain (Loss) on Investment		1,336,416			278,443			319,249			193,144
Net Increase (Decrease) in Net Assets Resulting from Operations		1,429,425			284,680			323,641			194,646
Increase (Decrease) in Net Assets from Contract Transactions		(807,805	)		432,648			(20,793	)		91,908
Total Increase (Decrease) in Net Assets		621,620			717,328			302,848			286,554
Net Assets as of December 31, 2023:	$	34,514,014		$	3,777,985		$	3,028,968		$	1,392,490
Investment Income:
Reinvested Dividends		619,261			86,431			57,105			22,530
Investment Expense:
Mortality and Expense Risk and Administrative Charges		562,963			51,671			42,102			18,831
Net Investment Income (Loss)		56,298			34,760			15,003			3,699
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-			-
Realized Gain (Loss) on Investments		(22,004	)		(39,167	)		(51,956	)		16,091
Net Realized Capital Gains (Losses) on Investments		(22,004	)		(39,167	)		(51,956	)		16,091
Net Change in Unrealized Appreciation (Depreciation)		4,735,213			191,980			267,122			141,994
Net Gain (Loss) on Investment		4,713,209			152,813			215,166			158,085
Net Increase (Decrease) in Net Assets Resulting from Operations		4,769,507			187,573			230,169			161,784
Increase (Decrease) in Net Assets from Contract Transactions		(6,891,804	)		(227,576	)		(264,595	)		(427,199)
Total Increase (Decrease) in Net Assets		(2,122,297	)		(40,003	)		(34,426	)		(265,415)
Net Assets as of December 31, 2024:	$	32,391,717		$	3,737,982		$	2,994,542		$	1,127,075

See Accompanying Notes. ⁽¹⁾ See Footnote 1 21

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	TA BlackRock iShares Dynamic Allocation - Balanced Service Class			TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class			TA BlackRock iShares Edge 40 Service Class			TA BlackRock iShares Tactical - Balanced Service Class
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	654,577		$	187,269		$	220,094		$	1,030,398
Investment Income:
Reinvested Dividends		11,959			2,614			3,804			11,902
Investment Expense:
Mortality and Expense Risk and Administrative Charges		10,893			2,684			3,171			14,806
Net Investment Income (Loss)		1,066			(70	)		633			(2,904)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			2,969			-
Realized Gain (Loss) on Investments		(13,520	)		(1,564	)		(10,220	)		(23,266)
Net Realized Capital Gains (Losses) on Investments		(13,520	)		(1,564	)		(7,251	)		(23,266)
Net Change in Unrealized Appreciation (Depreciation)		98,293			30,723			20,448			123,578
Net Gain (Loss) on Investment		84,773			29,159			13,197			100,312
Net Increase (Decrease) in Net Assets Resulting from Operations		85,839			29,089			13,830			97,408
Increase (Decrease) in Net Assets from Contract Transactions		147,292			(5,294	)		(47,499	)		58,200
Total Increase (Decrease) in Net Assets		233,131			23,795			(33,669	)		155,608
Net Assets as of December 31, 2023:	$	887,708		$	211,064		$	186,425		$	1,186,006
Investment Income:
Reinvested Dividends		17,966			5,094			4,432			43,741
Investment Expense:
Mortality and Expense Risk and Administrative Charges		12,275			3,372			2,838			16,043
Net Investment Income (Loss)		5,691			1,722			1,594			27,698
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			2,743			-
Realized Gain (Loss) on Investments		(8,693	)		907			(5,586	)		(59,458)
Net Realized Capital Gains (Losses) on Investments		(8,693	)		907			(2,843	)		(59,458)
Net Change in Unrealized Appreciation (Depreciation)		66,633			20,881			12,038			117,176
Net Gain (Loss) on Investment		57,940			21,788			9,195			57,718
Net Increase (Decrease) in Net Assets Resulting from Operations		63,631			23,510			10,789			85,416
Increase (Decrease) in Net Assets from Contract Transactions		(60,180	)		41,272			(89,228	)		(170,968)
Total Increase (Decrease) in Net Assets		3,451			64,782			(78,439	)		(85,552)
Net Assets as of December 31, 2024:	$	891,159		$	275,846		$	107,986		$	1,100,454

See Accompanying Notes. ⁽¹⁾ See Footnote 1 22

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	TA BlackRock iShares Tactical - Conservative Service Class			TA BlackRock iShares Tactical - Growth Service Class			TA Goldman Sachs Managed Risk - Balanced ETF Service Class			TA Goldman Sachs Managed Risk - Conservative ETF Service Class
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	1,092,227		$	375,378		$	4,266,054		$	3,330,019
Investment Income:
Reinvested Dividends		12,443			3,693			63,939			63,155
Investment Expense:
Mortality and Expense Risk and Administrative Charges		14,371			5,445			58,792			46,729
Net Investment Income (Loss)		(1,928	)		(1,752	)		5,147			16,426
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			295,447			169,066
Realized Gain (Loss) on Investments		(169,019	)		(1,402	)		(30,599	)		(57,872)
Net Realized Capital Gains (Losses) on Investments		(169,019	)		(1,402	)		264,848			111,194
Net Change in Unrealized Appreciation (Depreciation)		230,737			50,999			220,268			173,472
Net Gain (Loss) on Investment		61,718			49,597			485,116			284,666
Net Increase (Decrease) in Net Assets Resulting from Operations		59,790			47,845			490,263			301,092
Increase (Decrease) in Net Assets from Contract Transactions		(136,282	)		19,640			(164,994	)		32,081
Total Increase (Decrease) in Net Assets		(76,492	)		67,485			325,269			333,173
Net Assets as of December 31, 2023:	$	1,015,735		$	442,863		$	4,591,323		$	3,663,192
Investment Income:
Reinvested Dividends		34,047			16,821			105,993			94,732
Investment Expense:
Mortality and Expense Risk and Administrative Charges		13,124			6,270			64,497			50,939
Net Investment Income (Loss)		20,923			10,551			41,496			43,793
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			56,564			149,439
Realized Gain (Loss) on Investments		(75,620	)		(3,774	)		(14,760	)		(36,282)
Net Realized Capital Gains (Losses) on Investments		(75,620	)		(3,774	)		41,804			113,157
Net Change in Unrealized Appreciation (Depreciation)		105,432			37,963			259,843			43,370
Net Gain (Loss) on Investment		29,812			34,189			301,647			156,527
Net Increase (Decrease) in Net Assets Resulting from Operations		50,735			44,740			343,143			200,320
Increase (Decrease) in Net Assets from Contract Transactions		(283,937	)		(33,983	)		(16,944	)		(178,897)
Total Increase (Decrease) in Net Assets		(233,202	)		10,757			326,199			21,423
Net Assets as of December 31, 2024:	$	782,533		$	453,620		$	4,917,522		$	3,684,615

See Accompanying Notes. ⁽¹⁾ See Footnote 1 23

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	TA Goldman Sachs Managed Risk - Growth ETF Service Class			TA International Focus Initial Class			TA Janus Balanced Service Class			TA Janus Mid-Cap Growth Service Class
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	2,716,779		$	18,634,634		$	2,102,698		$	15,188,952
Investment Income:
Reinvested Dividends		44,873			351,328			27,783			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		40,719			243,595			38,109			248,069
Net Investment Income (Loss)		4,154			107,733			(10,326	)		(248,069)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		82,116			-			71,519			2,764,786
Realized Gain (Loss) on Investments		(20,659	)		(438,525	)		(2,534	)		365,050
Net Realized Capital Gains (Losses) on Investments		61,457			(438,525	)		68,985			3,129,836
Net Change in Unrealized Appreciation (Depreciation)		375,906			2,213,664			238,158			(754,544)
Net Gain (Loss) on Investment		437,363			1,775,139			307,143			2,375,292
Net Increase (Decrease) in Net Assets Resulting from Operations		441,517			1,882,872			296,817			2,127,223
Increase (Decrease) in Net Assets from Contract Transactions		(69,717	)		(2,899,385	)		174,373			(2,105,958)
Total Increase (Decrease) in Net Assets		371,800			(1,016,513	)		471,190			21,265
Net Assets as of December 31, 2023:	$	3,088,579		$	17,618,121		$	2,573,888		$	15,210,217
Investment Income:
Reinvested Dividends		59,410			387,113			45,556			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		44,142			230,011			42,817			249,949
Net Investment Income (Loss)		15,268			157,102			2,739			(249,949)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		39,950			533,083			62,025			973,314
Realized Gain (Loss) on Investments		4,098			(122,225	)		31,578			(146,910)
Net Realized Capital Gains (Losses) on Investments		44,048			410,858			93,603			826,404
Net Change in Unrealized Appreciation (Depreciation)		290,113			(868,920	)		227,460			1,206,645
Net Gain (Loss) on Investment		334,161			(458,062	)		321,063			2,033,049
Net Increase (Decrease) in Net Assets Resulting from Operations		349,429			(300,960	)		323,802			1,783,100
Increase (Decrease) in Net Assets from Contract Transactions		76,716			(2,193,314	)		(143,968	)		(2,692,764)
Total Increase (Decrease) in Net Assets		426,145			(2,494,274	)		179,834			(909,664)
Net Assets as of December 31, 2024:	$	3,514,724		$	15,123,847		$	2,753,722		$	14,300,553

See Accompanying Notes. ⁽¹⁾ See Footnote 1 24

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	TA JPMorgan Enhanced Index Initial Class			TA Market Participation Strategy Service Class			TA Morgan Stanley Global Allocation Service Class			TA Multi-Managed Balanced Service Class
	Subaccount			Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	946,648		$	843,775		$	164,793		$	428,878
Investment Income:
Reinvested Dividends		8,425			3,718			-			8,533
Investment Expense:
Mortality and Expense Risk and Administrative Charges		15,299			12,101			2,565			8,828
Net Investment Income (Loss)		(6,874	)		(8,383	)		(2,565	)		(295)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		48,469			-			5,922			21,825
Realized Gain (Loss) on Investments		2,326			(6,076	)		(2,315	)		(5,311)
Net Realized Capital Gains (Losses) on Investments		50,795			(6,076	)		3,607			16,514
Net Change in Unrealized Appreciation (Depreciation)		192,467			101,772			17,779			71,167
Net Gain (Loss) on Investment		243,262			95,696			21,386			87,681
Net Increase (Decrease) in Net Assets Resulting from Operations		236,388			87,313			18,821			87,386
Increase (Decrease) in Net Assets from Contract Transactions		(68,143	)		35,909			(11,675	)		171,808
Total Increase (Decrease) in Net Assets		168,245			123,222			7,146			259,194
Net Assets as of December 31, 2023:	$	1,114,893		$	966,997		$	171,939		$	688,072
Investment Income:
Reinvested Dividends		1,013,141			18,013			8,312			12,868
Investment Expense:
Mortality and Expense Risk and Administrative Charges		1,471,054			14,774			2,853			12,095
Net Investment Income (Loss)		(457,913	)		3,239			5,459			773
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		4,993,257			-			-			32,273
Realized Gain (Loss) on Investments		1,534,525			(4,162	)		(243	)		(7,598)
Net Realized Capital Gains (Losses) on Investments		6,527,782			(4,162	)		(243	)		24,675
Net Change in Unrealized Appreciation (Depreciation)		13,490,238			134,121			3,663			63,930
Net Gain (Loss) on Investment		20,018,020			129,959			3,420			88,605
Net Increase (Decrease) in Net Assets Resulting from Operations		19,560,107			133,198			8,879			89,378
Increase (Decrease) in Net Assets from Contract Transactions		136,165,599			130,572			(147	)		86,955
Total Increase (Decrease) in Net Assets		155,725,706			263,770			8,732			176,333
Net Assets as of December 31, 2024:	$	156,840,599		$	1,230,767		$	180,671		$	864,405

See Accompanying Notes. ⁽¹⁾ See Footnote 1 25

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	TA Small/Mid Cap Value Service Class			TA T. Rowe Price Small Cap Initial Class			TA TSW International Equity Service Class			TA WMC US Growth Initial Class
	Subaccount			Subaccount			Subaccount			Subaccount(1)
Net Assets as of December 31, 2022:	$	24,438,311		$	8,685,126		$	2,109,491		$	-
Investment Income:
Reinvested Dividends		197,338			-			16,885			349
Investment Expense:
Mortality and Expense Risk and Administrative Charges		396,947			138,635			31,176			8,999
Net Investment Income (Loss)		(199,609	)		(138,635	)		(14,291	)		(8,650)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		2,412,731			349,489			-			24,595
Realized Gain (Loss) on Investments		(258,592	)		(620,511	)		(5,225	)		7,676
Net Realized Capital Gains (Losses) on Investments		2,154,139			(271,022	)		(5,225	)		32,271
Net Change in Unrealized Appreciation (Depreciation)		412,163			1,975,433			283,520			155,973
Net Gain (Loss) on Investment		2,566,302			1,704,411			278,295			188,244
Net Increase (Decrease) in Net Assets Resulting from Operations		2,366,693			1,565,776			264,004			179,594
Increase (Decrease) in Net Assets from Contract Transactions		(2,354,361	)		(1,121,229	)		(276,734	)		783,376
Total Increase (Decrease) in Net Assets		12,332			444,547			(12,730	)		962,970
Net Assets as of December 31, 2023:	$	24,450,643		$	9,129,673		$	2,096,761		$	962,970
Investment Income:
Reinvested Dividends		181,251			-			61,811			113
Investment Expense:
Mortality and Expense Risk and Administrative Charges		397,652			145,791			34,697			15,272
Net Investment Income (Loss)		(216,401	)		(145,791	)		27,114			(15,159)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		795,476			327,820			-			92,000
Realized Gain (Loss) on Investments		526,082			(463,811	)		22,893			40,902
Net Realized Capital Gains (Losses) on Investments		1,321,558			(135,991	)		22,893			132,902
Net Change in Unrealized Appreciation (Depreciation)		544,372			1,243,978			(9,118	)		123,383
Net Gain (Loss) on Investment		1,865,930			1,107,987			13,775			256,285
Net Increase (Decrease) in Net Assets Resulting from Operations		1,649,529			962,196			40,889			241,126
Increase (Decrease) in Net Assets from Contract Transactions		(3,081,845	)		(1,102,290	)		56,146			(152,425)
Total Increase (Decrease) in Net Assets		(1,432,316	)		(140,094	)		97,035			88,701
Net Assets as of December 31, 2024:	$	23,018,327		$	8,989,579		$	2,193,796		$	1,051,671

See Accompanying Notes. ⁽¹⁾ See Footnote 1 26

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2024 and 2023

	TA WMC US Growth Service Class			Wanger Acorn			Wanger International
	Subaccount			Subaccount			Subaccount
Net Assets as of December 31, 2022:	$	30,860,459		$	8,357,023		$	18,628,060
Investment Income:
Reinvested Dividends		-			-			60,113
Investment Expense:
Mortality and Expense Risk and Administrative Charges		493,984			139,881			306,601
Net Investment Income (Loss)		(493,984	)		(139,881	)		(246,488)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		898,534			-			-
Realized Gain (Loss) on Investments		544,579			(970,753	)		(934,797)
Net Realized Capital Gains (Losses) on Investments		1,443,113			(970,753	)		(934,797)
Net Change in Unrealized Appreciation (Depreciation)		9,907,731			2,674,278			3,959,001
Net Gain (Loss) on Investment		11,350,844			1,703,525			3,024,204
Net Increase (Decrease) in Net Assets Resulting from Operations		10,856,860			1,563,644			2,777,716
Increase (Decrease) in Net Assets from Contract Transactions		(8,687,200	)		(1,153,576	)		(1,532,899)
Total Increase (Decrease) in Net Assets		2,169,660			410,068			1,244,817
Net Assets as of December 31, 2023:	$	33,030,119		$	8,767,091		$	19,872,877
Investment Income:
Reinvested Dividends		-			-			249,653
Investment Expense:
Mortality and Expense Risk and Administrative Charges		503,115			143,989			299,345
Net Investment Income (Loss)		(503,115	)		(143,989	)		(49,692)
Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		2,907,725			-			-
Realized Gain (Loss) on Investments		1,655,667			(627,911	)		(189,486)
Net Realized Capital Gains (Losses) on Investments		4,563,392			(627,911	)		(189,486)
Net Change in Unrealized Appreciation (Depreciation)		3,742,260			1,809,134			(1,490,712)
Net Gain (Loss) on Investment		8,305,652			1,181,223			(1,680,198)
Net Increase (Decrease) in Net Assets Resulting from Operations		7,802,537			1,037,234			(1,729,890)
Increase (Decrease) in Net Assets from Contract Transactions		(10,468,857	)		(1,503,734	)		(677,334)
Total Increase (Decrease) in Net Assets		(2,666,320	)		(466,500	)		(2,407,224)
Net Assets as of December 31, 2024:	$	30,363,799		$	8,300,591		$	17,465,653

See Accompanying Notes. ⁽¹⁾ See Footnote 1 27

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

1. Organization

Merrill Lynch Life Variable Annuity Separate Account A (the Separate Account) is a segregated investment account of Transamerica Life Insurance Company (TLIC), an indirect wholly owned subsidiary of Aegon Ltd., a holding company organized under the laws of the Bermuda.

The Separate Account is registered with the Securities and Exchange Commission as a Unit Investment Trust pursuant to provisions of the Investment Company Act of 1940. TLIC and the Separate Account are regulated by the Securities and Exchange Commission. The assets and liabilities of the Separate Account are clearly identified and distinguished from TLIC’s other assets and liabilities. The Separate Account consists of multiple investment subaccounts. Each subaccount invests exclusively in the corresponding portfolio of a Mutual Fund. Each Mutual Fund is registered as an open-end management investment company under the Investment Company Act of 1940, as amended. Activity in these specified investment subaccounts is available to contract owners of Merrill Lynch Investor Choice Annuity^®, Merrill Lynch Retirement Plus^®, Merrill Lynch Retirement Power^®, and Merrill Lynch Retirement Optimizer.

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
AB Variable Products Series Fund, Inc.	AB Variable Products Series Fund, Inc.
AB Discovery Value Class A Shares	AB Discovery Value Portfolio Class A Shares
AB International Value Class A Shares	AB International Value Portfolio Class A Shares
AB Large Cap Growth Class A Shares	AB Large Cap Growth Portfolio Class A Shares
AB Relative Value Class A Shares	AB Relative Value Portfolio Class A Shares
AB Sustainable Global Thematic Growth Class A Shares	AB Sustainable Global Thematic Growth Portfolio Class A Shares
American Funds Insurance Series ®	American Funds Insurance Series ®
American Funds - Asset Allocation Class 2 Shares	American Funds - Asset Allocation Fund Class 2 Shares
American Funds - Growth Class 2 Shares	American Funds - Growth Fund Class 2 Shares
American Funds - Growth-Income Class 2 Shares	American Funds - Growth-Income Fund Class 2 Shares
American Funds - International Class 2 Shares	American Funds - International Fund Class 2 Shares
American Funds - The Bond Fund of America Class 2 Shares	American Funds - The Bond Fund of America Class 2 Shares
BlackRock Funds, Inc.	BlackRock Funds, Inc.
BlackRock Advantage Large Cap Core V.I. Class I Shares	BlackRock Advantage Large Cap Core V.I. Fund Class I Shares
BlackRock Advantage Large Cap Value V.I. Class I Shares	BlackRock Advantage Large Cap Value V.I. Fund Class I Shares
BlackRock Advantage SMID Cap V.I. Class I Shares	BlackRock Advantage SMID Cap V.I. Fund Class I Shares
BlackRock Basic Value V.I. Class I Shares	BlackRock Basic Value V.I. Fund Class I
BlackRock Equity Dividend V.I. Class I Shares	BlackRock Equity Dividend V.I. Fund Class I Shares
BlackRock Global Allocation V.I. Class I Shares	BlackRock Global Allocation V.I. Fund Class I Shares
BlackRock Government Money Market V.I. Class I Shares	BlackRock Government Money Market V.I. Fund Class I Shares
BlackRock High Yield V.I. Class I Shares	BlackRock High Yield V.I. Fund Class I Shares
BlackRock International V.I. Class I Shares	BlackRock International V.I. Fund Class I Shares
BlackRock Large Cap Focus Growth V.I. Class I Shares	BlackRock Large Cap Focus Growth V.I. Fund Class I Shares
BlackRock Managed Volatility V.I. Class I Shares	BlackRock Managed Volatility V.I. Fund Class I Shares
BlackRock S&P 500 Index V.I. Class I Shares	BlackRock S&P 500 Index V.I. Fund Class I Shares
BlackRock Total Return V.I. Class I Shares	BlackRock Total Return V.I. Fund Class I
Davis Variable Account Fund, Inc.	Davis Variable Account Fund, Inc.
Davis Equity	Davis Equity Portfolio
Eaton Vance Variable Trust	Eaton Vance Variable Trust
Eaton Vance VT Floating-Rate Income	Eaton Vance VT Floating-Rate Income Fund

28

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

1. Organization (continued)

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
Federated Insurance Series	Federated Insurance Series
Federated Hermes Kaufmann II Primary Shares	Federated Hermes Kaufmann II Fund Primary Shares
Federated Hermes Managed Volatility II Primary Shares	Federated Hermes Managed Volatility II Fund Primary Shares
Franklin Templeton Variable Insurance Products Trust	Franklin Templeton Variable Insurance Products Trust
Franklin Templeton Foreign Class 2 Shares	Franklin Templeton Foreign Fund Class 2
Franklin Templeton Growth Class 2 Shares	Franklin Templeton Growth Fund Class 2
AIM Variable Insurance Funds- (Invesco Variable Insurance)	AIM Variable Insurance Funds- (Invesco Variable Insurance)
Invesco V.I. American Franchise Series I Shares	Invesco V.I. American Franchise Fund Series I Shares
Invesco V.I. American Value Series I Shares	Invesco V.I. American Value Fund Series I Shares
Invesco V.I. Comstock Series I Shares	Invesco V.I. Comstock Fund Series I Shares
Invesco V.I. EQV International Equity Series I Shares	Invesco V.I. EQV International Equity Fund Series I Shares
Invesco V.I. Main Street Series II Shares	Invesco V.I. Main Street Fund Series II Shares
Invesco V.I. Main Street Mid Cap Series I Shares	Invesco V.I. Main Street Mid Cap Fund Series I Shares
Janus Aspen Series	Janus Aspen Series
Janus Henderson - Enterprise Service Shares	Janus Henderson - Enterprise Portfolio Service Shares
Janus Henderson - Forty Service Shares	Janus Henderson - Forty Portfolio Service Shares
Lincoln Variable Insurance Products	Lincoln Variable Insurance Products
LVIP American Century Ultra Standard Class II Shares	LVIP American Century Ultra Standard Fund Class II Shares
MFS® Variable Insurance Trust	MFS® Variable Insurance Trust
MFS® Growth Initial Class	MFS® Growth Series Initial Class
PIMCO Variable Insurance Trust	PIMCO Variable Insurance Trust
PIMCO CommodityRealReturn® Strategy Administrative Class	PIMCO CommodityRealReturn® Strategy Administrative Portfolio Class
PIMCO Low Duration Administrative Class	PIMCO Low Duration Administrative Portfolio Class
PIMCO Real Return Administrative Class	PIMCO Real Return Administrative Portfolio Class
PIMCO Total Return Administrative Class	PIMCO Total Return Administrative Portfolio Class
Pioneer Variable Contracts Trust	Pioneer Variable Contracts Trust
Pioneer High Yield VCT Class II Shares	Pioneer High Yield VCT Portfolio Class II Shares
Transamerica Series Trust	Transamerica Series Trust
TA Aegon Sustainable Equity Income Service Class	Transamerica Aegon Sustainable Equity Income VP Service Class
TA BlackRock iShares Active Asset Allocation - Conservative Service Class	Transamerica BlackRock iShares Active Asset Allocation - Conservative VP Service Class
TA BlackRock iShares Active Asset Allocation - Moderate Service Class	Transamerica BlackRock iShares Active Asset Allocation - Moderate VP Service Class
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class	Transamerica BlackRock iShares Active Asset Allocation - Moderate Growth VP Service Class
TA BlackRock iShares Dynamic Allocation - Balanced Service Class	Transamerica BlackRock iShares Dynamic Allocation - Balanced VP Service Class
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class	Transamerica BlackRock iShares Dynamic Allocation - Moderate Growth VP Service Class
TA BlackRock iShares Edge 40 Service Class	Transamerica BlackRock iShares Edge 40 VP Service Class
TA BlackRock iShares Tactical - Balanced Service Class	Transamerica BlackRock iShares Tactical - Balanced VP Service Class

29

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

1. Organization (continued)

Subaccount Investment by Mutual Fund:

Subaccount	Mutual Fund
Transamerica Series Trust	Transamerica Series Trust
TA BlackRock iShares Tactical - Conservative Service Class	Transamerica BlackRock iShares Tactical - Conservative VP Service Class
TA BlackRock iShares Tactical - Growth Service Class	Transamerica BlackRock iShares Tactical - Growth VP Service Class
TA Goldman Sachs Managed Risk - Balanced ETF Service Class	Transamerica Goldman Sachs Managed Risk - Balanced ETF VP Service Class
TA Goldman Sachs Managed Risk - Conservative ETF Service Class	Transamerica Goldman Sachs Managed Risk - Conservative ETF VP Service Class
TA Goldman Sachs Managed Risk - Growth ETF Service Class	Transamerica Goldman Sachs Managed Risk - Growth ETF VP Service Class
TA International Focus Initial Class	Transamerica International Focus VP Initial Class
TA Janus Balanced Service Class	Transamerica Janus Balanced VP Service Class
TA Janus Mid-Cap Growth Service Class	Transamerica Janus Mid-Cap Growth VP Service Class
TA JPMorgan Enhanced Index Initial Class	Transamerica JPMorgan Enhanced Index VP Initial Class
TA Market Participation Strategy Service Class	Transamerica Market Participation Strategy VP Service Class
TA Morgan Stanley Global Allocation Service Class	Transamerica Morgan Stanley Global Allocation VP Service Class
TA Multi-Managed Balanced Service Class	Transamerica Multi-Managed Balanced VP Service Class
TA Small/Mid Cap Value Service Class	Transamerica Small/Mid Cap Value VP Service Class
TA T. Rowe Price Small Cap Initial Class	Transamerica T. Rowe Price Small Cap VP Initial Class
TA TSW International Equity Service Class	Transamerica TSW International Equity VP Service Class
TA WMC US Growth Initial Class	Transamerica WMC US Growth VP Initial Class
TA WMC US Growth Service Class	Transamerica WMC US Growth VP Service Class
Wanger Advisors Trust	Wanger Advisors Trust
Wanger Acorn	Wanger Acorn
Wanger International	Wanger International

Each period reported on reflects a full twelve month period except as follows:

Subaccount	Inception Date
LVIP American Century Ultra Standard Class II Shares	April 26, 2024
TA WMC US Growth Initial Class	April 28, 2023
Invesco V.I. American Value Series I Shares	April 30, 2021

The following subaccount name changes were made effective during the fiscal year ended December 31, 2024:

Subaccount	Formerly
Davis Equity	Davis Value
TA BlackRock iShares Tactical - Balanced Service Class	TA PIMCO Tactical - Balanced Service Class
TA BlackRock iShares Tactical - Conservative Service Class	TA PIMCO Tactical - Conservative Service Class
TA BlackRock iShares Tactical - Growth Service Class	TA PIMCO Tactical - Growth Service Class
TA TSW International Equity Service Class	TA TS&W International Equity Service Class

30

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

1. Organization (continued)

During the current year the following subaccounts were liquidated and subsequently reinvested:

Reinvested Subaccount	Liquidated Subaccount
LVIP American Century Ultra Standard Class II Shares	American Century VP Ultra® Class I Shares

During the current year the following subaccounts were removed as available investment options to contract owners and subsequently replaced and reinvested:

Reinvested Subaccount	Removed Subaccount
TA JPMorgan Enhanced Index Initial Class	BlackRock Capital Appreciation V.I. Class I Shares
TA JPMorgan Enhanced Index Initial Class	Invesco V.I. Core Equity Series I Shares

The transfers from the removed and liquidated subaccounts to the reinvested subaccounts for the period ended December 31, 2024 are reflected in the Statements of Changes in Net Assets within Increase (Decrease) in Net Assets from Contract Transactions and purchases and sales in Footnote 3.

31

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

2.  Summary of Significant Accounting Policies

The financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for variable annuity separate accounts registered as unit investment trusts. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions regarding matters that affect the reported amount of assets and liabilities. Actual results could differ from those estimates.

Investments

Net purchase payments received by the Separate Account are invested in the portfolios of the Mutual Funds as selected by the contract owner. Investments are stated at the closing net asset values per share on December 31, 2024.

Realized capital gains and losses from sales of shares in the Separate Account are determined on the first-in, first-out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividend income is recorded on the ex-dividend date. Unrealized gains or losses from investments in the Mutual Funds are included in the Statements of Operations and Changes in Net Assets.

Dividend Income

Dividends received from the Mutual Fund investments are reinvested to purchase additional mutual fund shares.

Fair Value Measurements and Fair Value Hierarchy

The Accounting Standards Codification^™ (ASC) 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the nature of inputs used to measure fair value and enhances disclosure requirements for fair value measurements.

The Separate Account has categorized its financial instruments into a three level hierarchy which is based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument.

Financial assets and liabilities recorded at fair value on the Statements of Assets and Liabilities are categorized as follows:

Level 1. Unadjusted quoted prices for identical assets or liabilities in an active market.

Level 2. Quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:

a) Quoted prices for similar assets or liabilities in active markets

b) Quoted prices for identical or similar assets or liabilities in non-active markets

c) Inputs other than quoted market prices that are observable

d) Inputs that are derived principally from or corroborated by observable market data through correlation or other means.    

Level 3. Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability. 

All investments in the Mutual Funds included in the Statements of Assets and Liabilities are stated at fair value and are based upon published closing NAV per share and therefore are considered Level 1.

There were no transfers between Level 1, Level 2 and Level 3 during the year ended December 31, 2024.

32

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

3.  Investments

The aggregate cost of purchases and proceeds from sales of investments for the period ended December 31, 2024 were as follows:

Subaccount	Purchases		Sales
AB Discovery Value Class A Shares	$	291,791	$	580,325
AB International Value Class A Shares		211,243		319,684
AB Large Cap Growth Class A Shares		5,343,140		13,378,454
AB Relative Value Class A Shares		552,779		864,994
AB Sustainable Global Thematic Growth Class A Shares		143,011		1,402,260
American Funds - Asset Allocation Class 2 Shares		1,301,229		3,072,132
American Funds - Growth Class 2 Shares		1,831,122		7,994,175
American Funds - Growth-Income Class 2 Shares		971,633		4,613,109
American Funds - International Class 2 Shares		3,427,708		7,900,496
American Funds - The Bond Fund of America Class 2 Shares		1,012,357		870,658
BlackRock Advantage Large Cap Core V.I. Class I Shares		17,068,289		20,421,809
BlackRock Advantage Large Cap Value V.I. Class I Shares		11,071,179		9,824,948
BlackRock Advantage SMID Cap V.I. Class I Shares		5,375,240		15,991,733
BlackRock Basic Value V.I. Class I Shares		15,910,272		23,468,575
BlackRock Equity Dividend V.I. Class I Shares		749,524		1,477,622
BlackRock Global Allocation V.I. Class I Shares		22,051,272		36,261,564
BlackRock Government Money Market V.I. Class I Shares		20,506,206		33,878,014
BlackRock High Yield V.I. Class I Shares		4,832,358		8,043,251
BlackRock International V.I. Class I Shares		1,923,042		6,559,934
BlackRock Large Cap Focus Growth V.I. Class I Shares		11,429,855		13,373,233
BlackRock Managed Volatility V.I. Class I Shares		95,894		1,067,647
BlackRock S&P 500 Index V.I. Class I Shares		11,632,795		22,908,459
BlackRock Total Return V.I. Class I Shares		8,122,393		11,432,205
Davis Equity		13,148,539		9,831,127
Eaton Vance VT Floating-Rate Income		486,632		453,109
Federated Hermes Kaufmann II Primary Shares		1,053,794		3,510,647
Federated Hermes Managed Volatility II Primary Shares		81,142		197,257
Franklin Templeton Foreign Class 2 Shares		37,133		188,779
Franklin Templeton Growth Class 2 Shares		52,665		125,337
Invesco V.I. American Franchise Series I Shares		146,050		2,402,446
Invesco V.I. American Value Series I Shares		140,617		18,765
Invesco V.I. Comstock Series I Shares		6,454,615		10,605,587
Invesco V.I. EQV International Equity Series I Shares		610,331		796,316
Invesco V.I. Main Street Series II Shares		56,577		103,680
Invesco V.I. Main Street Mid Cap Series I Shares		263,888		301,771
Janus Henderson - Enterprise Service Shares		118,036		133,178

33

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

3. Investments (continued)

Subaccount	Purchases		Sales
Janus Henderson - Forty Service Shares	$	1,140,535	$	1,835,582
LVIP American Century Ultra Standard Class II Shares		10,668,261		1,811,588
MFS® Growth Initial Class		10,570,538		15,554,180
PIMCO CommodityRealReturn® Strategy Administrative Class		1,047,459		896,758
PIMCO Low Duration Administrative Class		5,157,465		6,712,177
PIMCO Real Return Administrative Class		2,594,140		3,267,073
PIMCO Total Return Administrative Class		10,680,455		16,087,495
Pioneer High Yield VCT Class II Shares		174,041		590,452
TA Aegon Sustainable Equity Income Service Class		1,617,830		8,453,333
TA BlackRock iShares Active Asset Allocation - Conservative Service Class		149,378		342,194
TA BlackRock iShares Active Asset Allocation - Moderate Service Class		143,320		392,913
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		641,405		1,064,905
TA BlackRock iShares Dynamic Allocation - Balanced Service Class		17,966		72,456
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class		91,332		48,339
TA BlackRock iShares Edge 40 Service Class		14,951		99,841
TA BlackRock iShares Tactical - Balanced Service Class		115,058		258,326
TA BlackRock iShares Tactical - Conservative Service Class		126,828		389,841
TA BlackRock iShares Tactical - Growth Service Class		16,822		40,254
TA Goldman Sachs Managed Risk - Balanced ETF Service Class		344,322		263,206
TA Goldman Sachs Managed Risk - Conservative ETF Service Class		383,967		369,633
TA Goldman Sachs Managed Risk - Growth ETF Service Class		280,648		148,714
TA International Focus Initial Class		1,087,987		2,591,115
TA Janus Balanced Service Class		373,540		452,744
TA Janus Mid-Cap Growth Service Class		1,677,902		3,647,298
TA JPMorgan Enhanced Index Initial Class		160,846,839		20,145,911
TA Market Participation Strategy Service Class		152,876		19,020
TA Morgan Stanley Global Allocation Service Class		8,313		2,999
TA Multi-Managed Balanced Service Class		280,208		160,207
TA Small/Mid Cap Value Service Class		2,399,052		4,901,825
TA T. Rowe Price Small Cap Initial Class		744,152		1,664,411
TA TSW International Equity Service Class		324,012		240,753
TA WMC US Growth Initial Class		94,059		169,642
TA WMC US Growth Service Class		4,439,522		12,503,774
Wanger Acorn		576,134		2,223,856
Wanger International		3,231,016		3,958,042

34

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

4.  Change in Units

The change in units outstanding were as follows:

	Year Ended December 31, 2024								Year Ended December 31, 2023
Subaccount	Units Purchased		Units Redeemed  and Transferred  to/from			Net Increase  (Decrease)			Units Purchased		Units Redeemed  and Transferred  to/from			Net Increase  (Decrease)
AB Discovery Value Class A Shares		3,826		(13,685	)		(9,859	)		4,149		(9,505	)		(5,356	)
AB International Value Class A Shares		23,228		(38,263	)		(15,035	)		10,667		(32,673	)		(22,006	)
AB Large Cap Growth Class A Shares		13,352		(128,411	)		(115,059	)		21,956		(189,705	)		(167,749	)
AB Relative Value Class A Shares		5,726		(18,615	)		(12,889	)		20,810		(49,958	)		(29,148	)
AB Sustainable Global Thematic Growth Class A Shares		6,490		(67,893	)		(61,403	)		15,893		(66,843	)		(50,950	)
American Funds - Asset Allocation Class 2 Shares		18,609		(89,804	)		(71,195	)		5,520		(33,969	)		(28,449	)
American Funds - Growth Class 2 Shares		13,111		(105,438	)		(92,327	)		15,582		(94,703	)		(79,121	)
American Funds - Growth-Income Class 2 Shares		1,549		(97,539	)		(95,990	)		5,144		(51,530	)		(46,386	)
American Funds - International Class 2 Shares		131,504		(312,586	)		(181,082	)		95,070		(327,314	)		(232,244	)
American Funds - The Bond Fund of America Class 2 Shares		62,868		(64,155	)		(1,287	)		74,507		(76,387	)		(1,880	)
BlackRock Advantage Large Cap Core V.I. Class I Shares		14,623		(156,337	)		(141,714	)		17,867		(210,795	)		(192,928	)
BlackRock Advantage Large Cap Value V.I. Class I Shares		55,268		(213,446	)		(158,178	)		43,260		(221,303	)		(178,043	)
BlackRock Advantage SMID Cap V.I. Class I Shares		37,258		(123,648	)		(86,390	)		15,620		(126,531	)		(110,911	)
BlackRock Basic Value V.I. Class I Shares		44,348		(307,412	)		(263,064	)		55,356		(360,344	)		(304,988	)
BlackRock Equity Dividend V.I. Class I Shares		-		(14,806	)		(14,806	)		2,613		(13,377	)		(10,764	)
BlackRock Global Allocation V.I. Class I Shares		88,738		(684,748	)		(596,010	)		83,686		(803,194	)		(719,508	)
BlackRock Government Money Market V.I. Class I Shares		1,350,940		(2,574,301	)		(1,223,361	)		3,867,900		(1,955,708	)		1,912,192
BlackRock High Yield V.I. Class I Shares		49,122		(196,102	)		(146,980	)		41,500		(253,611	)		(212,111	)
BlackRock International V.I. Class I Shares		70,435		(235,961	)		(165,526	)		121,007		(369,015	)		(248,008	)
BlackRock Large Cap Focus Growth V.I. Class I Shares		81,946		(227,010	)		(145,064	)		66,484		(294,747	)		(228,263	)
BlackRock Managed Volatility V.I. Class I Shares		2,827		(32,921	)		(30,094	)		8,008		(39,103	)		(31,095	)
BlackRock S&P 500 Index V.I. Class I Shares		45,247		(315,890	)		(270,643	)		129,484		(347,756	)		(218,272	)
BlackRock Total Return V.I. Class I Shares		328,045		(589,432	)		(261,387	)		315,947		(614,580	)		(298,633	)
Davis Equity		36,999		(250,820	)		(213,821	)		34,672		(295,641	)		(260,969	)
Eaton Vance VT Floating-Rate Income		18,076		(26,385	)		(8,309	)		9,790		(28,222	)		(18,432	)
Federated Hermes Kaufmann II Primary Shares		8,619		(77,544	)		(68,925	)		15,686		(126,947	)		(111,261	)
Federated Hermes Managed Volatility II Primary Shares		4,417		(14,655	)		(10,238	)		3,435		(31,254	)		(27,819	)
Franklin Templeton Foreign Class 2 Shares		393		(9,460	)		(9,067	)		530		(5,293	)		(4,763	)

35

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

4. Change in Units (continued)

	Year Ended December 31, 2024						Year Ended December 31, 2023
Subaccount	Units Purchased		Units Redeemed  and Transferred  to/from		Net Increase  (Decrease)		Units Purchased		Units Redeemed  and Transferred  to/from		Net Increase  (Decrease)
Franklin Templeton Growth Class 2 Shares		1,865		(5,327)		(3,462)		353		(10,183)		(9,830)
Invesco V.I. American Franchise Series I Shares		4,832		(57,927)		(53,095)		14,521		(92,119)		(77,598)
Invesco V.I. American Value Series I Shares		9,621		(1,079)		8,542		1,989		(2,451)		(462)
Invesco V.I. Comstock Series I Shares		26,728		(246,563)		(219,835)		117,304		(297,535)		(180,231)
Invesco V.I. EQV International Equity Series I Shares		27,996		(40,488)		(12,492)		17,713		(55,213)		(37,500)
Invesco V.I. Main Street Series II Shares		18		(2,315)		(2,297)		2,535		(3,453)		(918)
Invesco V.I. Main Street Mid Cap Series I Shares		6,175		(8,579)		(2,404)		4,862		(10,859)		(5,997)
Janus Henderson - Enterprise Service Shares		2,224		(2,642)		(418)		1,079		(2,716)		(1,637)
Janus Henderson - Forty Service Shares		12,960		(30,098)		(17,138)		6,989		(22,935)		(15,946)
LVIP American Century Ultra Standard Class II Shares		1,036,098		(155,835)		880,263		-		-		-
MFS® Growth Initial Class		48,055		(188,572)		(140,517)		34,844		(178,537)		(143,693)
PIMCO CommodityRealReturn® Strategy Administrative Class		118,163		(101,812)		16,351		105,422		(111,073)		(5,651)
PIMCO Low Duration Administrative Class		337,318		(538,359)		(201,041)		260,527		(492,711)		(232,184)
PIMCO Real Return Administrative Class		146,852		(206,665)		(59,813)		108,513		(218,893)		(110,380)
PIMCO Total Return Administrative Class		402,308		(886,021)		(483,713)		385,869		(969,681)		(583,812)
Pioneer High Yield VCT Class II Shares		4,858		(29,951)		(25,093)		7,315		(17,931)		(10,616)
TA Aegon Sustainable Equity Income Service Class		63,848		(491,652)		(427,804)		249,789		(306,342)		(56,553)
TA BlackRock iShares Active Asset Allocation - Conservative Service Class		4,939		(22,642)		(17,703)		62,617		(25,657)		36,960
TA BlackRock iShares Active Asset Allocation - Moderate Service Class		6,258		(25,452)		(19,194)		12,764		(14,343)		(1,579)
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		44,110		(73,304)		(29,194)		20,050		(11,606)		8,444
TA BlackRock iShares Dynamic Allocation - Balanced Service Class		-		(4,455)		(4,455)		16,520		(4,022)		12,498
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class		5,414		(2,795)		2,619		-		(393)		(393)
TA BlackRock iShares Edge 40 Service Class		596		(7,181)		(6,585)		1,563		(5,565)		(4,002)
TA BlackRock iShares Tactical - Balanced Service Class		4,912		(16,632)		(11,720)		8,832		(4,351)		4,481
TA BlackRock iShares Tactical - Conservative Service Class		7,044		(27,765)		(20,721)		38,421		(49,197)		(10,776)
TA BlackRock iShares Tactical - Growth Service Class		-		(2,021)		(2,021)		1,360		(1)		1,359
TA Goldman Sachs Managed Risk - Balanced ETF Service Class		11,826		(13,289)		(1,463)		15,159		(27,112)		(11,953)

36

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

4. Change in Units (continued)

	Year Ended December 31, 2024						Year Ended December 31, 2023
Subaccount	Units Purchased		Units Redeemed  and Transferred  to/from		Net Increase  (Decrease)		Units Purchased		Units Redeemed  and Transferred  to/from		Net Increase  (Decrease)
TA Goldman Sachs Managed Risk - Conservative ETF Service Class		10,755		(23,288)		(12,533)		26,404		(24,112)		2,292
TA Goldman Sachs Managed Risk - Growth ETF Service Class		9,249		(5,904)		3,345		13,380		(17,173)		(3,793)
TA International Focus Initial Class		14,074		(186,144)		(172,070)		30,250		(279,035)		(248,785)
TA Janus Balanced Service Class		15,828		(24,529)		(8,701)		22,494		(10,085)		12,409
TA Janus Mid-Cap Growth Service Class		25,013		(115,917)		(90,904)		19,027		(101,842)		(82,815)
TA JPMorgan Enhanced Index Initial Class		7,094,821		(796,727)		6,298,094		-		(3,780)		(3,780)
TA Market Participation Strategy Service Class		6,926		(219)		6,707		2,409		(239)		2,170
TA Morgan Stanley Global Allocation Service Class		-		(11)		(11)		-		(975)		(975)
TA Multi-Managed Balanced Service Class		14,036		(8,899)		5,137		14,439		(2,205)		12,234
TA Small/Mid Cap Value Service Class		48,131		(146,248)		(98,117)		48,870		(133,866)		(84,996)
TA T. Rowe Price Small Cap Initial Class		23,821		(87,799)		(63,978)		28,408		(104,906)		(76,498)
TA TSW International Equity Service Class		22,409		(17,036)		5,373		7,195		(32,493)		(25,298)
TA WMC US Growth Initial Class		46		(3,674)		(3,628)		28,004		(2,435)		25,569
TA WMC US Growth Service Class		34,851		(277,950)		(243,099)		20,829		(289,928)		(269,099)
Wanger Acorn		15,669		(54,295)		(38,626)		8,240		(43,198)		(34,958)
Wanger International		199,447		(232,118)		(32,671)		108,133		(204,807)		(96,674)

37

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

4. Change in Units Dollars (continued)

	Year Ended December 31, 2024						Year Ended December 31, 2023
Subaccount	Units Purchased in  Dollars		Units Redeemed  and Transferred  to/from in Dollars		Dollar Net Increase  (Decrease)		Units Purchased in  Dollars		Units Redeemed  and Transferred  to/from in Dollars		Dollar Net Increase  (Decrease)
AB Discovery Value Class A Shares	$	155,212	$	(542,784)	$	(387,572)	$	135,487	$	(326,041)	$	(190,554)
AB International Value Class A Shares		183,426		(302,454)		(119,028)		78,402		(233,804)		(155,402)
AB Large Cap Growth Class A Shares		1,244,462		(12,068,895)		(10,824,433)		1,624,972		(13,493,036)		(11,868,064)
AB Relative Value Class A Shares		232,247		(760,248)		(528,001)		720,317		(1,725,091)		(1,004,774)
AB Sustainable Global Thematic Growth Class A Shares		130,125		(1,328,679)		(1,198,554)		274,093		(1,154,629)		(880,536)
American Funds - Asset Allocation Class 2 Shares		591,412		(2,880,047)		(2,288,635)		153,553		(937,222)		(783,669)
American Funds - Growth Class 2 Shares		930,023		(7,386,463)		(6,456,440)		812,587		(5,019,362)		(4,206,775)
American Funds - Growth-Income Class 2 Shares		67,468		(4,325,209)		(4,257,741)		175,257		(1,818,655)		(1,643,398)
American Funds - International Class 2 Shares		2,980,253		(7,154,807)		(4,174,554)		1,925,236		(6,770,766)		(4,845,530)
American Funds - The Bond Fund of America Class 2 Shares		774,861		(782,143)		(7,282)		898,898		(905,161)		(6,263)
BlackRock Advantage Large Cap Core V.I. Class I Shares		1,573,297		(18,565,526)		(16,992,229)		1,706,346		(20,225,872)		(18,519,526)
BlackRock Advantage Large Cap Value V.I. Class I Shares		2,291,619		(9,089,490)		(6,797,871)		1,464,420		(7,985,241)		(6,520,821)
BlackRock Advantage SMID Cap V.I. Class I Shares		4,752,412		(14,774,523)		(10,022,111)		1,365,533		(12,443,206)		(11,077,673)
BlackRock Basic Value V.I. Class I Shares		2,327,470		(21,528,258)		(19,200,788)		2,591,361		(23,857,518)		(21,266,157)
BlackRock Equity Dividend V.I. Class I Shares		-		(1,371,731)		(1,371,731)		218,081		(1,095,538)		(877,457)
BlackRock Global Allocation V.I. Class I Shares		3,666,627		(32,983,056)		(29,316,429)		2,754,613		(33,345,918)		(30,591,305)
BlackRock Government Money Market V.I. Class I Shares		15,913,120		(32,705,182)		(16,792,062)		47,686,038		(24,728,319)		22,957,719
BlackRock High Yield V.I. Class I Shares		1,414,658		(7,386,098)		(5,971,440)		1,174,055		(8,887,298)		(7,713,243)
BlackRock International V.I. Class I Shares		1,732,220		(5,964,413)		(4,232,193)		2,848,211		(8,659,798)		(5,811,587)
BlackRock Large Cap Focus Growth V.I. Class I Shares		4,803,808		(12,395,060)		(7,591,252)		2,653,423		(11,690,002)		(9,036,579)
BlackRock Managed Volatility V.I. Class I Shares		84,728		(998,971)		(914,243)		223,940		(1,102,309)		(878,369)
BlackRock S&P 500 Index V.I. Class I Shares		3,077,908		(20,828,971)		(17,751,063)		6,341,343		(17,606,720)		(11,265,377)
BlackRock Total Return V.I. Class I Shares		4,985,978		(10,446,268)		(5,460,290)		5,141,707		(10,648,166)		(5,506,459)
Davis Equity		1,334,656		(9,070,848)		(7,736,192)		953,969		(8,303,930)		(7,349,961)
Eaton Vance VT Floating-Rate Income		284,914		(417,968)		(133,054)		142,171		(418,606)		(276,435)
Federated Hermes Kaufmann II Primary Shares		371,332		(3,255,197)		(2,883,865)		569,120		(4,509,743)		(3,940,623)
Federated Hermes Managed Volatility II Primary Shares		54,381		(179,897)		(125,516)		37,956		(340,669)		(302,713)
Franklin Templeton Foreign Class 2 Shares		7,672		(169,803)		(162,131)		8,497		(86,196)		(77,699)

38

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

4. Change in Units Dollars (continued)

	Year Ended December 31, 2024								Year Ended December 31, 2023
Subaccount	Units Purchased in  Dollars		Units Redeemed  and Transferred  to/from in Dollars			Dollar Net Increase  (Decrease)			Units Purchased in  Dollars		Units Redeemed  and Transferred  to/from in Dollars			Dollar Net Increase  (Decrease)
Franklin Templeton Growth Class 2 Shares	$	37,878	$	(106,306	)	$	(68,428	)	$	6,154	$	(176,001	)	$	169,847	)
Invesco V.I. American Franchise Series I Shares		155,110		(2,129,436	)		(1,974,326	)		365,060		(2,467,896	)		(2,102,836	)
Invesco V.I. American Value Series I Shares		128,471		(13,839	)		114,632			18,162		(23,900	)		(5,738	)
Invesco V.I. Comstock Series I Shares		1,045,948		(9,725,459	)		(8,679,511	)		3,912,947		(10,044,437	)		(6,131,490	)
Invesco V.I. EQV International Equity Series I Shares		491,560		(713,688	)		(222,128	)		283,101		(903,656	)		(620,555	)
Invesco V.I. Main Street Series II Shares		804		(95,263	)		(94,459	)		85,380		(118,200	)		(32,820	)
Invesco V.I. Main Street Mid Cap Series I Shares		214,853		(272,097	)		(57,244	)		129,132		(293,000	)		(163,868	)
Janus Henderson - Enterprise Service Shares		108,525		(130,286	)		(21,761	)		44,568		(112,273	)		(67,705	)
Janus Henderson - Forty Service Shares		766,559		(1,742,500	)		(975,941	)		309,795		(1,012,989	)		(703,194	)
LVIP American Century Ultra Standard Class II Shares		10,554,729		(1,718,325	)		8,836,404			-		-			-
MFS® Growth Initial Class		4,115,788		(14,470,681	)		(10,354,893	)		1,692,648		(9,348,571	)		(7,655,923	)
PIMCO CommodityRealReturn® Strategy Administrative Class		937,924		(817,438	)		120,486			853,586		(903,028	)		(49,442	)
PIMCO Low Duration Administrative Class		3,899,257		(6,213,600	)		(2,314,343	)		2,912,578		(5,510,660	)		(2,598,082	)
PIMCO Real Return Administrative Class		2,108,450		(2,974,858	)		(866,408	)		1,540,148		(3,066,329	)		(1,526,181	)
PIMCO Total Return Administrative Class		6,494,978		(14,675,870	)		(8,180,892	)		6,110,908		(15,354,860	)		(9,243,952	)
Pioneer High Yield VCT Class II Shares		93,711		(568,566	)		(474,855	)		129,321		(319,424	)		(190,103	)
TA Aegon Sustainable Equity Income Service Class		1,020,911		(7,912,715	)		(6,891,804	)		3,447,212		(4,255,017	)		(807,805	)
TA BlackRock iShares Active Asset Allocation - Conservative Service Class		63,366		(290,942	)		(227,576	)		735,348		(302,700	)		432,648
TA BlackRock iShares Active Asset Allocation - Moderate Service Class		86,677		(351,272	)		(264,595	)		150,390		(171,183	)		(20,793	)
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		619,115		(1,046,314	)		(427,199	)		229,467		(137,559	)		91,908
TA BlackRock iShares Dynamic Allocation - Balanced Service Class		-		(60,180	)		(60,180	)		197,155		(49,863	)		147,292
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class		86,247		(44,975	)		41,272			-		(5,294	)		(5,294	)
TA BlackRock iShares Edge 40 Service Class		7,833		(97,061	)		(89,228	)		18,490		(65,989	)		(47,499	)
TA BlackRock iShares Tactical - Balanced Service Class		71,491		(242,459	)		(170,968	)		115,373		(57,173	)		58,200

39

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

4. Change in Units Dollars (continued)

	Year Ended December 31, 2024								Year Ended December 31, 2023
Subaccount	Units Purchased in  Dollars		Units Redeemed  and Transferred  to/from in Dollars			Dollar Net Increase  (Decrease)			Units Purchased in  Dollars		Units Redeemed  and Transferred  to/from in Dollars			Dollar Net Increase  (Decrease)
TA BlackRock iShares Tactical -Conservative Service Class	$	92,885	$	(376,822	)	$	(283,937	)	$	480,004	$	(616,286	)	$	(136,282	)
TA BlackRock iShares Tactical -Growth Service Class		-		(33,983	)		(33,983	)		19,661		(21	)		19,640
TA Goldman Sachs Managed Risk - Balanced ETF Service Class		182,472		(199,416	)		(16,944	)		207,951		(372,945	)		(164,994	)
TA Goldman Sachs Managed Risk - Conservative ETF Service Class		140,211		(319,108	)		(178,897	)		326,619		(294,538	)		32,081
TA Goldman Sachs Managed Risk - Growth ETF Service Class		181,412		(104,696	)		76,716			210,468		(280,185	)		(69,717	)
TA International Focus Initial Class		180,186		(2,373,500	)		(2,193,314	)		356,306		(3,255,691	)		(2,899,385	)
TA Janus Balanced Service Class		266,650		(410,618	)		(143,968	)		320,230		(145,857	)		174,373
TA Janus Mid-Cap Growth Service Class		716,578		(3,409,342	)		(2,692,764	)		477,428		(2,583,386	)		(2,105,958	)
TA JPMorgan Enhanced Index Initial Class		154,991,741		(18,826,142	)		136,165,599			-		(68,143	)		(68,143	)
TA Market Participation Strategy Service Class		134,863		(4,291	)		130,572			40,000		(4,091	)		35,909
TA Morgan Stanley Global Allocation Service Class		-		(147	)		(147	)		-		(11,675	)		(11,675	)
TA Multi-Managed Balanced Service Class		235,169		(148,214	)		86,955			203,016		(31,208	)		171,808
TA Small/Mid Cap Value Service Class		1,443,719		(4,525,564	)		(3,081,845	)		1,322,919		(3,677,280	)		(2,354,361	)
TA T. Rowe Price Small Cap Initial Class		420,870		(1,523,160	)		(1,102,290	)		417,486		(1,538,715	)		(1,121,229	)
TA TSW International Equity Service Class		264,831		(208,685	)		56,146			79,718		(356,452	)		(276,734	)
TA WMC US Growth Initial Class		2,026		(154,451	)		(152,425	)		864,869		(81,493	)		783,376
TA WMC US Growth Service Class		1,553,574		(12,022,431	)		(10,468,857	)		679,460		(9,366,660	)		(8,687,200	)
Wanger Acorn		583,253		(2,086,987	)		(1,503,734	)		266,711		(1,420,287	)		(1,153,576	)
Wanger International		3,006,179		(3,683,513	)		(677,334	)		1,563,028		(3,095,927	)		(1,532,899	)

40

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

5. Financial Highlights

The Separate Account offers various death benefit options, which have differing fees that are charged against the contract owner’s account balance. These charges are discussed in more detail in the individual’s policy. Differences in the fee structures for these units result in different unit values, expense ratios, and total returns.

		At December 31								For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio				Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return***  Corresponding to Lowest to Highest Expense Ratio
AB Discovery Value Class A Shares
	12/31/2024		56,596		$43.09	to	$38.80	$	2,314,153		0.86	%		1.25	%	to	1.90	%		8.65	%	to	7.94	%
	12/31/2023		66,455		39.66	to	35.95		2,508,196		1.09			1.25		to	1.90			15.73		to	14.98
	12/31/2022		71,811		34.27	to	31.27		2,351,549		0.99			1.25		to	1.90			(16.74	)	to	(17.16	)
	12/31/2021		112,537		41.13	to	37.74		4,411,663		0.77			1.25		to	1.75			34.26		to	33.59
	12/31/2020		143,330		30.64	to	28.25		4,189,526		1.09			1.25		to	1.75			2.09		to	1.58
AB International Value Class A Shares
	12/31/2024		132,575		8.20	to	7.48		1,032,162		2.65			1.25		to	1.90			3.75		to	3.08
	12/31/2023		147,610		7.91	to	7.25		1,111,642		0.79			1.25		to	1.90			13.72		to	12.99
	12/31/2022		169,616		6.95	to	6.42		1,128,128		4.30			1.25		to	1.90			(14.75	)	to	(15.17	)
	12/31/2021		235,564		8.15	to	7.57		1,840,598		1.99			1.25		to	1.75			9.70		to	9.16
	12/31/2020		264,284		7.43	to	6.93		1,888,016		2.00			1.25		to	1.75			1.19		to	0.69
AB Large Cap Growth Class A Shares
	12/31/2024		1,070,622		107.27	to	37.71		104,533,512		0.05			1.35		to	1.59			23.57		to	23.27
	12/31/2023		1,185,681		86.81	to	30.59		94,171,637		-			1.35		to	1.59			33.32		to	33.00
	12/31/2022		1,353,430		65.11	to	23.00		80,885,354		-			1.35		to	1.59			(29.47	)	to	(29.64	)
	12/31/2021		1,486,816		92.31	to	32.68		126,355,527		-			1.35		to	1.59			27.24		to	26.94
	12/31/2020		1,673,424		72.55	to	25.75		111,775,113		-			1.35		to	1.59			33.67		to	33.35
AB Relative Value Class A Shares
	12/31/2024		157,198		42.40	to	40.96		6,529,746		1.44			1.25		to	1.90			11.61		to	10.89
	12/31/2023		170,087		37.99	to	36.94		6,351,496		1.50			1.25		to	1.90			10.64		to	9.92
	12/31/2022		199,235		34.34	to	33.60		6,747,082		1.42			1.25		to	1.90			(5.45	)	to	(5.92	)
	12/31/2021		217,603		36.29	to	35.72		7,813,095		0.82			1.25		to	1.75			26.57		to	25.93
	12/31/2020		239,421		28.67	to	28.36		6,813,530		1.60			1.25		to	1.75			1.44		to	0.94
AB Sustainable Global Thematic Growth Class A Shares
	12/31/2024		254,700		19.53	to	19.53		4,975,083		-			1.35		to	1.35			4.78		to	4.78
	12/31/2023		316,103		18.64	to	18.64		5,892,799		0.28			1.35		to	1.35			14.46		to	14.46
	12/31/2022		367,053		16.29	to	16.29		5,978,240		-			1.35		to	1.35			(27.96	)	to	(27.96	)
	12/31/2021		420,879		22.61	to	22.61		9,515,723		-			1.35		to	1.35			21.22		to	21.22
	12/31/2020		449,856		18.65	to	18.65		8,390,267		0.66			1.35		to	1.35			37.54		to	37.54
American Funds - Asset Allocation Class 2 Shares
	12/31/2024		322,119		35.47	to	31.94		10,944,604		2.07			1.40		to	2.05			14.81		to	14.06
	12/31/2023		393,314		30.90	to	28.00		11,698,206		2.22			1.40		to	2.05			12.69		to	11.96
	12/31/2022		421,763		27.42	to	25.01		11,171,321		1.85			1.40		to	2.05			(14.67	)	to	(15.10	)
	12/31/2021		454,694		32.11	to	29.46		14,136,930		1.53			1.40		to	1.90			13.50		to	12.94
	12/31/2020		474,273		28.29	to	26.09		13,019,743		1.67			1.40		to	1.90			10.89		to	10.34
American Funds - Growth Class 2 Shares
	12/31/2024		454,559		82.14	to	73.97		35,481,214		0.33			1.40		to	2.05			29.79		to	28.94
	12/31/2023		546,886		63.29	to	57.37		33,035,107		0.36			1.40		to	2.05			36.56		to	35.68
	12/31/2022		626,007		46.35	to	42.28		27,801,046		0.31			1.40		to	2.05			(30.96	)	to	(31.31	)
	12/31/2021		647,198		67.08	to	61.55		41,720,676		0.21			1.40		to	1.90			20.29		to	19.69
	12/31/2020		793,251		55.76	to	51.42		42,595,252		0.32			1.40		to	1.90			49.97		to	49.22
American Funds - Growth-Income Class 2 Shares
	12/31/2024		324,823		51.11	to	46.02		15,866,112		1.04			1.40		to	2.05			22.49		to	21.69
	12/31/2023		420,813		41.73	to	37.82		16,820,903		1.36			1.40		to	2.05			24.39		to	23.59
	12/31/2022		467,199		33.55	to	30.60		15,062,572		1.21			1.40		to	2.05			(17.72	)	to	(18.13	)
	12/31/2021		532,668		40.74	to	37.38		20,898,435		1.09			1.40		to	1.90			22.37		to	21.76
	12/31/2020		615,990		33.29	to	30.70		19,782,776		1.36			1.40		to	1.90			11.97		to	11.41

41

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

5. Financial Highlights (continued)

		At December 31								For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio				Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return***  Corresponding to Lowest to Highest Expense Ratio
American Funds - International Class 2 Shares
	12/31/2024		1,963,739		$23.27	to	$20.96	$	43,350,913		1.15	%		1.40	%	to	2.05	%		1.72	%	to	1.05	%
	12/31/2023		2,144,821		22.88	to	20.74		46,711,097		1.29			1.40		to	2.05			14.24		to	13.50
	12/31/2022		2,377,065		20.03	to	18.27		45,489,770		1.73			1.40		to	2.05			(21.95	)	to	(22.34	)
	12/31/2021		2,534,688		25.64	to	23.53		62,296,514		2.34			1.40		to	1.90			(2.87	)	to	(3.35	)
	12/31/2020		2,568,358		26.40	to	24.34		65,128,776		0.67			1.40		to	1.90			12.39		to	11.83
American Funds - The Bond Fund of America Class 2 Shares
	12/31/2024		505,650		12.75	to	11.48		6,163,540		4.23			1.40		to	2.05			(0.26	)	to	(0.91	)
	12/31/2023		506,937		12.78	to	11.59		6,211,749		3.45			1.40		to	2.05			3.56		to	2.89
	12/31/2022		508,817		12.34	to	11.26		6,032,550		2.81			1.40		to	2.05			(13.86	)	to	(14.29	)
	12/31/2021		562,501		14.32	to	13.14		7,758,778		1.38			1.40		to	1.90			(1.69	)	to	(2.18	)
	12/31/2020		554,659		14.57	to	13.43		7,802,395		2.15			1.40		to	1.90			8.21		to	7.67
BlackRock Advantage Large Cap Core V.I. Class I Shares
	12/31/2024		1,116,032		56.18	to	50.59		144,680,075		0.72			1.25		to	1.90			23.88		to	23.07
	12/31/2023		1,257,746		45.35	to	41.10		131,923,944		0.84			1.25		to	1.90			23.68		to	22.88
	12/31/2022		1,450,674		36.67	to	33.45		123,592,493		0.93			1.25		to	1.90			(21.06	)	to	(21.44	)
	12/31/2021		1,605,550		46.40	to	42.58		173,964,059		1.46			1.25		to	1.75			26.85		to	26.22
	12/31/2020		1,800,578		36.58	to	33.73		153,513,397		1.14			1.25		to	1.75			18.31		to	17.72
BlackRock Advantage Large Cap Value V.I. Class I Shares
	12/31/2024		1,268,460		39.35	to	35.43		57,071,008		1.53			1.25		to	1.90			14.87		to	14.12
	12/31/2023		1,426,638		34.25	to	31.04		55,919,232		1.54			1.25		to	1.90			12.29		to	11.57
	12/31/2022		1,604,681		30.50	to	27.83		56,198,269		1.59			1.25		to	1.90			(9.39	)	to	(9.82	)
	12/31/2021		1,826,557		33.63	to	30.86		70,150,197		1.56			1.25		to	1.75			24.95		to	24.33
	12/31/2020		2,075,104		26.91	to	24.82		63,756,212		1.71			1.25		to	1.75			2.37		to	1.86
BlackRock Advantage SMID Cap V.I. Class I Shares
	12/31/2024		799,711		42.19	to	37.99		100,179,312		0.77			1.25		to	1.90			10.66		to	9.93
	12/31/2023		886,101		38.13	to	34.55		100,272,986		0.95			1.25		to	1.90			17.41		to	16.65
	12/31/2022		997,012		32.47	to	29.62		96,062,599		0.89			1.25		to	1.90			(17.59	)	to	(17.99	)
	12/31/2021		1,096,775		39.37	to	36.12		127,695,426		0.84			1.25		to	1.75			12.23		to	11.67
	12/31/2020		1,224,188		35.08	to	32.34		127,316,216		1.15			1.25		to	1.75			18.47		to	17.88
BlackRock Basic Value V.I. Class I Shares
	12/31/2024		1,815,639		36.13	to	32.53		144,440,573		1.99			1.25		to	1.90			9.00		to	8.29
	12/31/2023		2,078,703		33.15	to	30.04		150,657,319		1.72			1.25		to	1.90			15.17		to	14.42
	12/31/2022		2,383,691		28.78	to	26.26		151,076,769		1.41			1.25		to	1.90			(6.19	)	to	(6.64	)
	12/31/2021		2,670,287		30.65	to	28.12		177,308,221		1.23			1.25		to	1.75			20.16		to	19.57
	12/31/2020		3,037,091		25.51	to	23.52		166,961,661		2.39			1.25		to	1.75			2.14		to	1.63
BlackRock Equity Dividend V.I. Class I Shares
	12/31/2024		77,020		94.61	to	94.61		7,287,131		2.50			1.35		to	1.35			8.58		to	8.58
	12/31/2023		91,826		87.14	to	87.14		8,001,699		2.02			1.35		to	1.35			10.74		to	10.74
	12/31/2022		102,590		78.69	to	78.69		8,072,962		1.67			1.35		to	1.35			(5.13	)	to	(5.13	)
	12/31/2021		112,159		82.95	to	82.95		9,303,537		1.54			1.35		to	1.35			18.93		to	18.93
	12/31/2020		123,340		69.75	to	69.75		8,602,684		2.20			1.35		to	1.35			2.52		to	2.52
BlackRock Global Allocation V.I. Class I Shares
	12/31/2024		5,019,442		29.57	to	26.63		244,278,816		1.30			1.25		to	1.90			7.87		to	7.17
	12/31/2023		5,615,452		27.41	to	24.85		254,684,426		2.14			1.25		to	1.90			11.43		to	10.71
	12/31/2022		6,334,960		24.60	to	22.44		258,280,116		-			1.25		to	1.90			(16.99	)	to	(17.38	)
	12/31/2021		7,023,561		29.60	to	27.16		344,946,683		0.90			1.25		to	1.75			5.35		to	4.82
	12/31/2020		7,730,821		28.10	to	25.91		362,526,008		1.27			1.25		to	1.75			19.51		to	18.91
BlackRock Government Money Market V.I. Class I Shares
	12/31/2024		6,929,332		10.54	to	9.49		90,494,186		4.91			1.25		to	1.90			3.70		to	3.03
	12/31/2023		8,152,693		10.17	to	9.21		103,866,156		4.79			1.25		to	1.90			3.55		to	2.89
	12/31/2022		6,240,501		9.82	to	8.95		77,499,210		1.37			1.25		to	1.90			0.05		to	(0.43	)
	12/31/2021		6,773,331		9.80	to	8.99		83,182,929		-			1.25		to	1.75			(1.24	)	to	(1.73	)
	12/31/2020		7,357,615		9.92	to	9.15		91,924,743		0.32			1.25		to	1.75			(0.91	)	to	(1.40	)

42

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

5. Financial Highlights (continued)

		At December 31								For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio				Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return***  Corresponding to Lowest to Highest Expense Ratio
BlackRock High Yield V.I. Class I Shares
	12/31/2024		1,215,054		$25.86	to	$23.28	$	48,725,044		6.95	%		1.25	%	to	1.90	%		6.91	%	to	6.22	%
	12/31/2023		1,362,034		24.18	to	21.92		51,425,176		6.55			1.25		to	1.90			11.79		to	11.07
	12/31/2022		1,574,145		21.63	to	19.74		53,457,125		5.29			1.25		to	1.90			(11.54	)	to	(11.96	)
	12/31/2021		1,831,142		24.43	to	22.42		69,375,085		4.52			1.25		to	1.75			4.02		to	3.50
	12/31/2020		1,997,550		23.49	to	21.66		73,441,354		5.31			1.25		to	1.75			5.96		to	5.43
BlackRock International V.I. Class I Shares
	12/31/2024		1,833,441		20.50	to	18.46		45,789,366		0.56			1.25		to	1.90			(0.88	)	to	(1.53	)
	12/31/2023		1,998,967		20.68	to	18.74		50,450,175		0.84			1.25		to	1.90			17.55		to	16.79
	12/31/2022		2,246,975		17.59	to	16.05		48,286,775		0.81			1.25		to	1.90			(25.63	)	to	(25.98	)
	12/31/2021		2,416,086		23.63	to	21.68		69,756,137		0.65			1.25		to	1.75			7.33		to	6.79
	12/31/2020		2,673,041		22.02	to	20.30		71,952,501		0.51			1.25		to	1.75			19.82		to	19.22
BlackRock Large Cap Focus Growth V.I. Class I Shares
	12/31/2024		1,457,841		73.03	to	65.76		88,657,828		-			1.25		to	1.90			30.06		to	29.22
	12/31/2023		1,602,905		56.15	to	50.89		75,065,037		-			1.25		to	1.90			50.97		to	49.99
	12/31/2022		1,831,168		37.19	to	33.93		56,899,032		-			1.25		to	1.90			(38.94	)	to	(39.23	)
	12/31/2021		2,071,181		60.85	to	55.83		105,331,309		-			1.25		to	1.75			16.62		to	16.04
	12/31/2020		2,352,250		52.18	to	48.11		102,671,804		-			1.25		to	1.75			41.96		to	41.25
BlackRock Managed Volatility V.I. Class I Shares
	12/31/2024		157,476		31.68	to	31.68		4,988,602		0.25			1.35		to	1.35			10.49		to	10.49
	12/31/2023		187,570		28.67	to	28.67		5,378,025		8.18			1.35		to	1.35			1.81		to	1.81
	12/31/2022		218,665		28.16	to	28.16		6,157,835		-			1.35		to	1.35			4.79		to	4.79
	12/31/2021		254,824		26.87	to	26.87		6,848,224		0.68			1.35		to	1.35			(0.67	)	to	(0.67	)
	12/31/2020		286,172		27.06	to	27.06		7,742,393		3.75			1.35		to	1.35			2.18		to	2.18
BlackRock S&P 500 Index V.I. Class I Shares
	12/31/2024		2,151,876		57.85	to	52.09		163,481,093		1.26			1.25		to	1.90			23.28		to	22.47
	12/31/2023		2,422,519		46.93	to	42.53		148,477,308		1.36			1.25		to	1.90			24.66		to	23.85
	12/31/2022		2,640,791		37.64	to	34.34		129,608,243		1.43			1.25		to	1.90			(19.32	)	to	(19.71	)
	12/31/2021		2,881,178		46.61	to	42.77		175,484,464		1.27			1.25		to	1.75			26.94		to	26.31
	12/31/2020		3,235,441		36.72	to	33.86		154,544,491		1.76			1.25		to	1.75			16.77		to	16.19
BlackRock Total Return V.I. Class I Shares
	12/31/2024		3,971,918		13.73	to	12.36		70,145,503		4.46			1.25		to	1.90			0.12		to	(0.53	)
	12/31/2023		4,233,305		13.72	to	12.43		75,675,433		3.89			1.25		to	1.90			4.51		to	3.84
	12/31/2022		4,531,938		13.12	to	11.97		78,042,869		2.33			1.25		to	1.90			(15.20	)	to	(15.61	)
	12/31/2021		5,192,556		15.46	to	14.19		104,753,260		1.68			1.25		to	1.75			(2.66	)	to	(3.14	)
	12/31/2020		5,496,313		15.88	to	14.65		116,668,243		2.19			1.25		to	1.75			7.54		to	7.00
Davis Equity
	12/31/2024		1,479,644		39.06	to	35.17		55,787,597		1.06			1.25		to	1.90			16.58		to	15.82
	12/31/2023		1,693,465		33.51	to	30.37		54,883,971		1.29			1.25		to	1.90			30.99		to	30.14
	12/31/2022		1,954,434		25.58	to	23.34		48,344,790		1.25			1.25		to	1.90			(21.20	)	to	(21.58	)
	12/31/2021		2,103,081		32.43	to	29.76		66,061,750		0.57			1.25		to	1.75			16.39		to	15.81
	12/31/2020		2,347,373		27.87	to	25.69		63,464,588		0.71			1.25		to	1.75			10.33		to	9.78
Eaton Vance VT Floating-Rate Income
	12/31/2024		158,262		17.26	to	15.54		2,588,307		7.88			1.15		to	1.80			6.44		to	5.75
	12/31/2023		166,571		16.21	to	14.70		2,567,141		8.20			1.15		to	1.80			9.94		to	9.23
	12/31/2022		185,003		14.75	to	13.45		2,604,405		4.53			1.15		to	1.80			(3.92	)	to	(4.40	)
	12/31/2021		221,913		15.34	to	14.07		3,256,637		2.90			1.15		to	1.65			2.44		to	1.93
	12/31/2020		225,922		14.97	to	13.81		3,243,622		3.33			1.15		to	1.65			0.83		to	0.33
Federated Hermes Kaufmann II Primary Shares
	12/31/2024		424,575		46.83	to	42.17		18,939,383		0.84			1.25		to	1.90			15.59		to	14.84
	12/31/2023		493,500		40.52	to	36.72		19,071,760		-			1.25		to	1.90			13.80		to	13.07
	12/31/2022		604,761		35.60	to	32.48		20,547,292		-			1.25		to	1.90			(31.03	)	to	(31.36	)
	12/31/2021		652,665		51.57	to	47.31		32,168,775		-			1.25		to	1.75			1.24		to	0.73
	12/31/2020		770,417		50.94	to	46.97		37,572,262		-			1.25		to	1.75			27.19		to	26.56

43

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

5. Financial Highlights (continued)

			At December 31								For the Year Ended December 31
Subaccount			Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio				Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return***  Corresponding to Lowest to Highest Expense Ratio
Federated Hermes Managed Volatility II Primary Shares
	12/31/2024			95,739		$13.28	to	$12.81	$	1,257,923		2.20	%		1.25	%	to	1.90	%		14.11	%	to	13.37	%
	12/31/2023			105,977		11.63	to	11.30		1,222,528		2.01			1.25		to	1.90			7.34		to	6.64
	12/31/2022			133,796		10.84	to	10.60		1,440,632		1.88			1.25		to	1.90			(14.91	)	to	(15.31	)
	12/31/2021			135,946		12.73	to	12.51		1,721,360		1.87			1.25		to	1.75			17.04		to	16.46
	12/31/2020			162,722		10.87	to	10.74		1,763,046		2.72			1.25		to	1.75			(0.32	)	to	(0.82	)
Franklin Templeton Foreign Class 2 Shares
	12/31/2024			65,144		18.00	to	16.20		1,111,289		2.41			1.15		to	1.80			(2.14	)	to	(2.77	)
	12/31/2023			74,211		18.39	to	16.67		1,298,284		3.19			1.15		to	1.80			19.38		to	18.61
	12/31/2022			78,974		15.40	to	14.05		1,161,191		3.02			1.15		to	1.80			(8.73	)	to	(9.19	)
	12/31/2021			83,980		16.87	to	15.47		1,357,120		1.86			1.15		to	1.65			2.97		to	2.45
	12/31/2020			96,770		16.38	to	15.10		1,523,984		3.37			1.15		to	1.65			(2.29	)	to	(2.78	)
Franklin Templeton Growth Class 2 Shares
	12/31/2024			63,316		20.76	to	18.69		1,234,629		0.94			1.15		to	1.80			4.19		to	3.51
	12/31/2023			66,778		19.92	to	18.05		1,255,891		3.33			1.15		to	1.80			19.63		to	18.86
	12/31/2022			76,608		16.65	to	15.19		1,209,755		0.16			1.15		to	1.80			(12.58	)	to	(13.02	)
	12/31/2021			97,621		19.03	to	17.46		1,765,348		1.10			1.15		to	1.65			3.67		to	3.16
	12/31/2020			104,480		18.36	to	16.93		1,828,963		3.03			1.15		to	1.65			4.59		to	4.07
Invesco V.I. American Franchise Series I Shares
	12/31/2024			500,022		46.95	to	26.78		21,725,256		-			1.35		to	1.59			33.07		to	32.75
	12/31/2023			553,117		35.28	to	20.17		17,995,810		-			1.35		to	1.59			39.04		to	38.71
	12/31/2022			630,715		25.38	to	14.54		14,724,138		-			1.35		to	1.59			(32.04	)	to	(32.20	)
	12/31/2021			668,398		37.34	to	21.45		22,987,749		-			1.35		to	1.59			10.43		to	10.16
	12/31/2020			760,998		33.81	to	19.47		23,671,266		0.07			1.35		to	1.59			40.45		to	40.11
Invesco V.I. American Value Series I Shares
	12/31/2024			28,767		14.86	to	14.54		422,281		1.22			1.25		to	1.90			28.78		to	27.95
	12/31/2023			20,225		11.54	to	11.36		231,411		0.65			1.25		to	1.90			14.17		to	13.43
	12/31/2022			20,687		10.11	to	10.02		208,139		0.78			1.25		to	1.90			(3.90	)	to	(4.37	)
	12/31/2021	(1)		21,577		10.51	to	10.48		226,473		0.44			1.25		to	1.75			-		to	-
Invesco V.I. Comstock Series I Shares
	12/31/2024			1,480,905		41.81	to	37.64		61,353,300		1.72			1.25		to	1.90			13.74		to	13.00
	12/31/2023			1,700,740		36.76	to	33.31		62,053,468		1.79			1.25		to	1.90			10.97		to	10.25
	12/31/2022			1,880,971		33.12	to	30.22		62,029,656		1.57			1.25		to	1.90			(0.23	)	to	(0.70	)
	12/31/2021			2,186,726		33.17	to	30.43		72,184,627		1.75			1.25		to	1.75			31.70		to	31.05
	12/31/2020			2,659,636		25.18	to	23.22		66,647,765		2.48			1.25		to	1.75			(2.08	)	to	(2.57	)
Invesco V.I. EQV International Equity Series I Shares
	12/31/2024			295,901		30.00	to	16.64		5,175,343		1.74			1.55		to	1.59			(0.94	)	to	(0.98	)
	12/31/2023			308,393		30.28	to	16.80		5,433,610		0.20			1.55		to	1.59			16.33		to	16.29
	12/31/2022			345,893		26.03	to	14.45		5,231,382		1.72			1.55		to	1.59			(19.56	)	to	(19.59	)
	12/31/2021			368,111		32.36	to	17.97		6,915,157		1.28			1.55		to	1.59			4.26		to	4.22
	12/31/2020			388,307		31.04	to	17.24		6,975,293		2.29			1.55		to	1.59			12.24		to	12.20
Invesco V.I. Main Street Series II Shares
	12/31/2024			12,385		47.31	to	42.60		560,932		-			1.15		to	1.80			21.97		to	21.18
	12/31/2023			14,682		38.78	to	35.15		545,949		0.48			1.15		to	1.80			21.43		to	20.65
	12/31/2022			15,600		31.94	to	29.14		479,888		1.09			1.15		to	1.80			(21.28	)	to	(21.67	)
	12/31/2021			18,517		40.54	to	37.20		724,642		0.50			1.15		to	1.65			25.78		to	25.15
	12/31/2020			22,276		32.23	to	29.72		691,973		1.03			1.15		to	1.65			12.39		to	11.83
Invesco V.I. Main Street Mid Cap Series I Shares
	12/31/2024			60,072		35.14	to	31.64		2,002,847		0.33			1.25		to	1.90			15.61		to	14.85
	12/31/2023			62,476		30.39	to	27.55		1,804,499		0.29			1.25		to	1.90			13.05		to	12.32
	12/31/2022			68,473		26.89	to	24.53		1,758,171		0.33			1.25		to	1.90			(15.39	)	to	(15.81	)
	12/31/2021			82,172		31.75	to	29.13		2,498,558		0.43			1.25		to	1.75			21.71		to	21.11
	12/31/2020			107,153		26.09	to	24.06		2,675,157		0.71			1.25		to	1.75			7.89		to	7.35

44

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

5. Financial Highlights (continued)

				At December 31										For the Year Ended December 31
Subaccount				Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio						Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest								Total Return***  Corresponding to Lowest to Highest Expense Ratio
Janus Henderson - Enterprise Service Shares
		12/31/2024			3,779		$52.16		to		$47.54	$	188,450		0.62	%		1.15	%		to		1.80	%		14.00	%		to		13.25	%
		12/31/2023			4,197		45.76		to		41.97		184,683		0.07			1.15			to		1.80			16.43			to		15.68
		12/31/2022			5,834		39.30		to		36.28		223,282		0.27			1.15			to		1.80			(17.17	)		to		(17.58	)
		12/31/2021			6,767		47.41		to		44.03		311,936		0.27			1.15			to		1.65			15.21			to		14.63
		12/31/2020			11,281		41.15		to		38.41		447,425		0.05			1.15			to		1.65			17.82			to		17.23
Janus Henderson - Forty Service Shares
		12/31/2024			96,317		65.39		to		59.59		5,946,338		0.01			1.15			to		1.80			26.67			to		25.84
		12/31/2023			113,455		51.62		to		47.36		5,561,597		0.12			1.15			to		1.80			38.06			to		37.17
		12/31/2022			129,401		37.39		to		34.52		4,614,986		0.05			1.15			to		1.80			(34.54	)		to		(34.86	)
		12/31/2021			167,947		57.08		to		53.00		9,143,248		0.53			1.15			to		1.65			21.20			to		20.59
		12/31/2020			176,748		47.09		to		43.95		7,970,628		0.64			1.15			to		1.65			37.45			to		36.76
LVIP American Century Ultra Standard Class II Shares
		12/31/2024	(1)		880,263		12.05		to		11.99		10,595,374		-			1.25			to		1.90			-			to		-
MFS® Growth Initial Class
		12/31/2024			1,003,909		102.59		to		34.36		89,104,380		-			1.35			to		1.59			29.69			to		29.38
		12/31/2023			1,144,426		79.10		to		26.56		77,678,450		-			1.35			to		1.59			34.05			to		33.73
		12/31/2022			1,288,119		59.01		to		19.86		64,546,998		-			1.35			to		1.59			(32.55	)		to		(32.71	)
		12/31/2021			1,399,173		87.49		to		29.52		105,910,022		-			1.35			to		1.59			21.88			to		21.58
		12/31/2020			1,601,051		71.78		to		24.28		99,306,874		-			1.35			to		1.59			30.09			to		29.78
PIMCO CommodityRealReturn® Strategy Administrative Class
		12/31/2024			684,993		8.52		to		7.67		5,525,981		2.20			1.25			to		1.90			2.86			to		2.19
		12/31/2023			668,642		8.28		to		7.51		5,263,539		15.86			1.25			to		1.90			(9.00	)		to		(9.58	)
		12/31/2022			674,293		9.10		to		8.30		5,855,753		21.89			1.25			to		1.90			7.18			to		6.65
		12/31/2021			931,242		8.49		to		7.79		7,563,737		4.16			1.25			to		1.75			31.69			to		31.03
		12/31/2020			1,245,915		6.44		to		5.94		7,696,210		6.39			1.25			to		1.75			0.09			to		(0.41	)
PIMCO Low Duration Administrative Class
		12/31/2024			2,631,176		12.38		to		11.28		31,063,582		3.99			1.25			to		1.90			3.19			to		2.52
		12/31/2023			2,832,217		12.00		to		11.00		32,496,774		3.60			1.25			to		1.90			3.67			to		3.00
		12/31/2022			3,064,401		11.57		to		10.68		34,040,544		1.60			1.25			to		1.90			(6.98	)		to		(7.44	)
		12/31/2021			3,721,233		12.43		to		11.54		44,550,973		0.52			1.25			to		1.75			(2.16	)		to		(2.65	)
		12/31/2020			3,675,392		12.70		to		11.86		45,062,295		1.22			1.25			to		1.75			1.71			to		1.20
PIMCO Real Return Administrative Class
		12/31/2024			1,306,910		15.19		to		13.68		18,789,911		2.65			1.25			to		1.90			0.86			to		0.20
	12/31/2023			1,366,723		15.06		to		13.65		19,552,773		3.00			1.25			to		1.90			2.39			to		1.72
		12/31/2022			1,477,103		14.71		to		13.42		20,712,467		7.00			1.25			to		1.90			(13.06	)		to		(13.50	)
	12/31/2021			1,748,176		16.91		to		15.51		28,275,553		4.98			1.25			to		1.75			4.27			to		3.75
		12/31/2020			1,819,507		16.21		to		14.95		28,285,343		1.40			1.25			to		1.75			10.33			to		9.78
PIMCO Total Return Administrative Class
		12/31/2024			6,273,290		15.91		to		14.33		104,234,453		4.04			1.25			to		1.90			1.25			to		0.59
		12/31/2023			6,757,003		15.72		to		14.24		111,250,552		3.56			1.25			to		1.90			4.62			to		3.94
		12/31/2022			7,340,815		15.02		to		13.70		115,795,058		2.59			1.25			to		1.90			(15.45	)		to		(15.85	)
		12/31/2021			8,290,671		17.75		to		16.28		154,677,223		1.82			1.25			to		1.75			(2.49	)		to		(2.98	)
		12/31/2020			8,926,116		18.20		to		16.78		171,674,446		2.13			1.25			to		1.75			7.30			to		6.76
Pioneer High Yield VCT Class II Shares
		12/31/2024			66,740		21.17		to		19.07		1,343,279		5.53			1.20			to		1.85			7.21			to		6.51
		12/31/2023			91,833		19.75		to		17.90		1,721,294		5.31			1.20			to		1.85			9.67			to		8.96
		12/31/2022			102,449		18.01		to		16.43		1,761,068		4.80			1.20			to		1.85			(12.56	)		to		(13.00	)
		12/31/2021			126,813		20.58		to		18.88		2,500,758		4.88			1.20			to		1.70			4.19			to		3.67
		12/31/2020			130,278		19.75		to		18.21		2,474,038		5.16			1.20			to		1.70			0.76			to		0.26

45

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

5. Financial Highlights (continued)

		At December 31								For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio				Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return***  Corresponding to Lowest to Highest Expense Ratio
TA Aegon Sustainable Equity Income Service Class
	12/31/2024		1,926,483		$17.35	to	$16.37	$	32,391,717		1.82	%		1.25	%	to	1.90	%		15.14	%	to	14.39	%
	12/31/2023		2,354,287		15.07	to	14.31		34,514,014		1.92			1.25		to	1.90			4.69		to	4.01
	12/31/2022		2,410,840		14.39	to	13.76		33,892,394		1.84			1.25		to	1.90			(13.00	)	to	(13.44	)
	12/31/2021		2,822,392		16.53	to	15.89		45,723,357		1.88			1.25		to	1.75			20.60		to	20.00
	12/31/2020		3,439,902		13.71	to	13.24		46,322,059		2.88			1.25		to	1.75			(8.74	)	to	(9.19	)
TA BlackRock iShares Active Asset Allocation - Conservative Service Class
	12/31/2024		287,467		13.00	to	13.00		3,737,982		2.27			1.35		to	1.35			5.03		to	5.03
	12/31/2023		305,170		12.38	to	12.38		3,777,985		1.52			1.35		to	1.35			8.49		to	8.49
	12/31/2022		268,210		11.41	to	11.41		3,060,657		1.31			1.35		to	1.35			(16.42	)	to	(16.42	)
	12/31/2021		268,462		13.65	to	13.65		3,665,484		1.10			1.35		to	1.35			4.32		to	4.32
	12/31/2020		288,967		13.09	to	13.09		3,781,889		2.08			1.35		to	1.35			5.22		to	5.22
TA BlackRock iShares Active Asset Allocation - Moderate Service Class
	12/31/2024		217,462		13.77	to	13.77		2,994,542		1.84			1.35		to	1.35			7.59		to	7.59
	12/31/2023		236,656		12.80	to	12.80		3,028,968		1.50			1.35		to	1.35			11.85		to	11.85
	12/31/2022		238,235		11.44	to	11.44		2,726,120		1.32			1.35		to	1.35			(18.25	)	to	(18.25	)
	12/31/2021		260,519		14.00	to	14.00		3,646,489		0.89			1.35		to	1.35			6.88		to	6.88
	12/31/2020		266,843		13.10	to	13.10		3,494,642		1.86			1.35		to	1.35			1.86		to	1.86
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class
	12/31/2024		78,627		14.33	to	14.33		1,127,075		1.63			1.35		to	1.35			10.99		to	10.99
	12/31/2023		107,821		12.91	to	12.91		1,392,490		1.46			1.35		to	1.35			16.05		to	16.05
	12/31/2022		99,377		11.13	to	11.13		1,105,936		1.30			1.35		to	1.35			(19.41	)	to	(19.41	)
	12/31/2021		104,861		13.81	to	13.81		1,447,980		0.55			1.35		to	1.35			6.18		to	6.18
	12/31/2020		113,895		13.01	to	13.01		1,481,201		1.86			1.35		to	1.35			(3.39	)	to	(3.39	)
TA BlackRock iShares Dynamic Allocation - Balanced Service Class
	12/31/2024		64,830		13.75	to	13.75		891,159		1.99			1.35		to	1.35			7.29		to	7.29
	12/31/2023		69,285		12.81	to	12.81		887,708		1.47			1.35		to	1.35			11.15		to	11.15
	12/31/2022		56,787		11.53	to	11.53		654,577		1.32			1.35		to	1.35			(17.02	)	to	(17.02	)
	12/31/2021		40,348		13.89	to	13.89		560,453		0.54			1.35		to	1.35			7.70		to	7.70
	12/31/2020		54,035		12.90	to	12.90		696,889		1.69			1.35		to	1.35			(1.88	)	to	(1.88	)
TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class
	12/31/2024		17,373		15.88	to	15.88		275,846		2.05			1.35		to	1.35			11.00		to	11.00
	12/31/2023		14,754		14.31	to	14.31		211,064		1.31			1.35		to	1.35			15.71		to	15.71
	12/31/2022		15,147		12.36	to	12.36		187,269		1.24			1.35		to	1.35			(18.03	)	to	(18.03	)
	12/31/2021		31,983		15.08	to	15.08		482,390		0.29			1.35		to	1.35			12.87		to	12.87
	12/31/2020		29,063		13.36	to	13.36		388,358		1.62			1.35		to	1.35			(3.48	)	to	(3.48	)
TA BlackRock iShares Edge 40 Service Class
	12/31/2024		8,309		13.55	to	12.41		107,986		2.46			1.25		to	1.90			5.15		to	4.46
	12/31/2023		14,894		12.89	to	11.88		186,425		1.88			1.25		to	1.90			7.72		to	7.02
	12/31/2022		18,896		11.97	to	11.10		220,094		1.56			1.25		to	1.90			(15.56	)	to	(15.98	)
	12/31/2021		20,994		14.16	to	13.22		290,109		1.45			1.25		to	1.75			4.46		to	3.94
	12/31/2020		34,294		13.56	to	12.71		449,464		2.20			1.25		to	1.75			8.09		to	7.55
TA BlackRock iShares Tactical - Balanced Service Class
	12/31/2024		75,321		14.61	to	14.61		1,100,454		3.70			1.35		to	1.35			7.22		to	7.22
	12/31/2023		87,041		13.63	to	13.63		1,186,006		1.08			1.35		to	1.35			9.18		to	9.18
	12/31/2022		82,560		12.48	to	12.48		1,030,398		0.56			1.35		to	1.35			(20.73	)	to	(20.73	)
	12/31/2021		86,577		15.74	to	15.74		1,363,108		-			1.35		to	1.35			4.96		to	4.96
	12/31/2020		86,099		15.00	to	15.00		1,291,467		3.32			1.35		to	1.35			7.40		to	7.40
TA BlackRock iShares Tactical - Conservative Service Class
	12/31/2024		57,539		13.60	to	13.60		782,533		3.52			1.35		to	1.35			4.79		to	4.79
	12/31/2023		78,260		12.98	to	12.98		1,015,735		1.17			1.35		to	1.35			5.80		to	5.80
	12/31/2022		89,036		12.27	to	12.27		1,092,227		1.06			1.35		to	1.35			(18.40	)	to	(18.40	)
	12/31/2021		90,229		15.03	to	15.03		1,356,437		1.02			1.35		to	1.35			2.81		to	2.81
	12/31/2020		101,984		14.62	to	14.62		1,491,205		1.40			1.35		to	1.35			8.42		to	8.42

46

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

5. Financial Highlights (continued)

		At December 31								For the Year Ended December 31
Subaccount		Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio				Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return***  Corresponding to Lowest to Highest Expense Ratio
TA BlackRock iShares Tactical - Growth Service Class
	12/31/2024		26,799		$16.93	to	$16.93	$	453,620		3.64	%		1.35	%	to	1.35	%		10.15	%	to	10.15	%
	12/31/2023		28,820		15.37	to	15.37		442,863		0.91			1.35		to	1.35			12.41		to	12.41
	12/31/2022		27,461		13.67	to	13.67		375,378		-			1.35		to	1.35			(19.12	)	to	(19.12	)
	12/31/2021		28,432		16.90	to	16.90		480,551		-			1.35		to	1.35			7.75		to	7.75
	12/31/2020		24,275		15.69	to	15.69		380,802		4.00			1.35		to	1.35			7.63		to	7.63
TA Goldman Sachs Managed Risk - Balanced ETF Service Class
	12/31/2024		315,311		15.60	to	15.60		4,917,522		2.23			1.35		to	1.35			7.60		to	7.60
	12/31/2023		316,774		14.49	to	14.49		4,591,323		1.46			1.35		to	1.35			11.69		to	11.69
	12/31/2022		328,727		12.98	to	12.98		4,266,054		1.54			1.35		to	1.35			(15.41	)	to	(15.41	)
	12/31/2021		335,962		15.34	to	15.34		5,154,311		1.26			1.35		to	1.35			7.89		to	7.89
	12/31/2020		319,816		14.22	to	14.22		4,547,851		2.03			1.35		to	1.35			2.79		to	2.79
TA Goldman Sachs Managed Risk - Conservative ETF Service Class
	12/31/2024		269,977		13.65	to	13.65		3,684,615		2.52			1.35		to	1.35			5.25		to	5.25
	12/31/2023		282,510		12.97	to	12.97		3,663,192		1.82			1.35		to	1.35			9.11		to	9.11
	12/31/2022		280,218		11.88	to	11.88		3,330,019		1.60			1.35		to	1.35			(13.01	)	to	(13.01	)
	12/31/2021		278,281		13.66	to	13.66		3,801,538		1.64			1.35		to	1.35			1.38		to	1.38
	12/31/2020		276,194		13.47	to	13.47		3,721,597		2.11			1.35		to	1.35			3.51		to	3.51
TA Goldman Sachs Managed Risk - Growth ETF Service Class
	12/31/2024		181,512		19.36	to	19.36		3,514,724		1.83			1.35		to	1.35			11.70		to	11.70
	12/31/2023		178,167		17.34	to	17.34		3,088,579		1.48			1.35		to	1.35			16.11		to	16.11
	12/31/2022		181,960		14.93	to	14.93		2,716,779		1.40			1.35		to	1.35			(15.66	)	to	(15.66	)
	12/31/2021		175,571		17.70	to	17.70		3,108,267		0.89			1.35		to	1.35			12.52		to	12.52
	12/31/2020		185,343		15.73	to	15.73		2,916,248		1.84			1.35		to	1.35			2.82		to	2.82
TA International Focus Initial Class
	12/31/2024		1,254,810		12.05	to	12.05		15,123,847		2.29			1.35		to	1.35			(2.39	)	to	(2.39	)
	12/31/2023		1,426,880		12.35	to	12.35		17,618,121		1.94			1.35		to	1.35			11.03		to	11.03
	12/31/2022		1,675,665		11.12	to	11.12		18,634,634		2.97			1.35		to	1.35			(21.11	)	to	(21.11	)
	12/31/2021		1,797,151		14.10	to	14.10		25,335,072		1.21			1.35		to	1.35			9.33		to	9.33
	12/31/2020		2,025,811		12.89	to	12.89		26,120,964		2.24			1.35		to	1.35			19.28		to	19.28
TA Janus Balanced Service Class
	12/31/2024		156,547		17.97	to	17.22		2,753,722		1.72			1.25		to	1.90			13.42		to	12.68
	12/31/2023		165,248		15.85	to	15.28		2,573,888		1.16			1.25		to	1.90			13.59		to	12.86
	12/31/2022		152,839		13.95	to	13.54		2,102,698		0.84			1.25		to	1.90			(17.86	)	to	(18.27	)
	12/31/2021		161,619		16.97	to	16.57		2,712,645		1.14			1.25		to	1.75			14.01		to	13.44
	12/31/2020		163,023		14.89	to	14.61		2,405,758		1.51			1.25		to	1.75			12.89		to	12.33
TA Janus Mid-Cap Growth Service Class
	12/31/2024		469,901		31.55	to	29.46		14,300,553		-			1.25		to	1.90			12.64		to	11.91
	12/31/2023		560,805		28.01	to	26.32		15,210,217		-			1.25		to	1.90			15.35		to	14.61
	12/31/2022		643,620		24.28	to	22.97		15,188,952		-			1.25		to	1.90			(18.03	)	to	(18.44	)
	12/31/2021		713,855		29.60	to	28.16		20,602,914		0.10			1.25		to	1.75			15.54		to	14.96
	12/31/2020		837,142		25.62	to	24.49		20,963,332		0.04			1.25		to	1.75			17.45		to	16.87
TA JPMorgan Enhanced Index Initial Class
	12/31/2024		6,353,718		24.97	to	23.97		156,840,599		0.68			1.15		to	1.80			22.81		to	22.01
	12/31/2023		55,624		20.33	to	19.65		1,114,893		0.82			1.15		to	1.80			26.21		to	25.39
	12/31/2022		59,404		16.11	to	15.67		946,648		0.64			1.15		to	1.80			(19.35	)	to	(19.75	)
	12/31/2021		66,563		19.96	to	19.53		1,317,798		0.81			1.15		to	1.65			28.63		to	27.99
	12/31/2020		78,583		15.52	to	15.26		1,211,504		1.45			1.15		to	1.65			18.79		to	18.20
TA Market Participation Strategy Service Class
	12/31/2024		61,451		20.03	to	20.03		1,230,767		1.65			1.35		to	1.35			13.39		to	13.39
	12/31/2023		54,744		17.66	to	17.66		966,997		0.41			1.35		to	1.35			10.06		to	10.06
	12/31/2022		52,574		16.05	to	16.05		843,775		0.03			1.35		to	1.35			(16.44	)	to	(16.44	)
	12/31/2021		50,385		19.21	to	19.21		967,710		0.50			1.35		to	1.35			12.92		to	12.92
	12/31/2020		50,586		17.01	to	17.01		860,449		0.30			1.35		to	1.35			18.72		to	18.72

47

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

5. Financial Highlights (continued)

			At December 31								For the Year Ended December 31
Subaccount			Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio				Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return***  Corresponding to Lowest to Highest Expense Ratio
TA Morgan Stanley Global Allocation Service Class
	12/31/2024			13,434		$13.49	to	$13.45	$	180,671		4.66	%		1.55	%	to	1.59	%		5.21	%	to	5.17	%
	12/31/2023			13,445		12.82	to	12.79		171,939		-			1.55		to	1.59			11.94		to	11.90
	12/31/2022			14,420		11.45	to	11.43		164,793		0.10			1.55		to	1.59			(19.03	)	to	(19.06	)
	12/31/2021			15,058		14.15	to	14.12		212,600		0.46			1.55		to	1.59			6.51		to	6.47
	12/31/2020			16,372		13.28	to	13.26		217,107		1.06			1.55		to	1.59			16.52		to	16.47
TA Multi-Managed Balanced Service Class
	12/31/2024			49,721		17.80	to	17.06		864,405		1.70			1.25		to	1.90			13.21		to	12.47
	12/31/2023			44,584		15.73	to	15.17		688,072		1.52			1.25		to	1.90			16.97		to	16.21
	12/31/2022			32,350		13.45	to	13.05		428,878		0.98			1.25		to	1.90			(17.59	)	to	(18.00	)
	12/31/2021			27,333		16.30	to	15.92		439,996		0.95			1.25		to	1.75			15.34		to	14.76
	12/31/2020			28,822		14.13	to	13.87		403,268		1.26			1.25		to	1.75			14.17		to	13.60
TA Small/Mid Cap Value Service Class
	12/31/2024			729,193		33.05	to	30.27		23,018,327		0.76			1.25		to	1.90			7.21		to	6.51
	12/31/2023			827,310		30.82	to	28.42		24,450,643		0.82			1.25		to	1.90			10.76		to	10.04
	12/31/2022			912,306		27.83	to	25.82		24,438,311		0.33			1.25		to	1.90			(9.73	)	to	(10.18	)
	12/31/2021			1,103,149		30.81	to	28.75		32,818,948		0.48			1.25		to	1.75			26.23		to	25.60
	12/31/2020			1,399,631		24.41	to	22.89		33,058,726		1.01			1.25		to	1.75			2.45		to	1.94
TA T. Rowe Price Small Cap Initial Class
	12/31/2024			501,927		18.44	to	17.71		8,989,579		-			1.15		to	1.80			11.48		to	10.76
	12/31/2023			565,905		16.54	to	15.99		9,129,673		-			1.15		to	1.80			19.82		to	19.04
	12/31/2022			642,403		13.81	to	13.43		8,685,126		-			1.15		to	1.80			(23.33	)	to	(23.72	)
	12/31/2021			659,370		18.00	to	17.61		11,666,579		-			1.15		to	1.65			10.10		to	9.55
	12/31/2020			725,347		16.35	to	16.07		11,704,719		-			1.15		to	1.65			22.15		to	21.54
TA TSW International Equity Service Class
	12/31/2024			183,713		12.20	to	11.71		2,193,796		2.75			1.15		to	1.80			1.93		to	1.27
	12/31/2023			178,340		11.96	to	11.56		2,096,761		0.83			1.15		to	1.80			13.94		to	13.21
	12/31/2022			203,638		10.50	to	10.21		2,109,491		3.09			1.15		to	1.80			(15.68	)	to	(16.10	)
	12/31/2021			226,727		12.44	to	12.17		2,792,334		1.66			1.15		to	1.65			11.91		to	11.35
	12/31/2020			262,571		11.12	to	10.93		2,896,657		2.98			1.15		to	1.65			4.99		to	4.46
TA WMC US Growth Initial Class
	12/31/2024			21,941		49.68	to	45.51		1,051,671		0.01			1.15		to	1.80			27.51		to	26.68
	12/31/2023	(1)		25,569		38.96	to	35.92		962,970		0.04			1.15		to	1.80			-		to	-
TA WMC US Growth Service Class
	12/31/2024			642,117		49.49	to	45.33		30,363,799		-			1.15		to	1.80			27.21		to	26.39
	12/31/2023			885,216		38.90	to	35.86		33,030,119		-			1.15		to	1.80			40.11		to	39.20
	12/31/2022			1,154,315		27.76	to	25.76		30,860,459		-			1.15		to	1.80			(32.35	)	to	(32.69	)
	12/31/2021			1,070,497		41.01	to	38.27		42,407,452		-			1.15		to	1.65			19.00		to	18.40
	12/31/2020			1,286,454		34.46	to	32.33		42,928,025		-			1.15		to	1.65			35.37		to	34.70
Wanger Acorn
	12/31/2024			208,042		42.19	to	37.99		8,300,591		-			1.25		to	1.90			12.75		to	12.02
	12/31/2023			246,668		37.42	to	33.92		8,767,091		-			1.25		to	1.90			20.23		to	19.45
	12/31/2022			281,626		31.13	to	28.39		8,357,023		-			1.25		to	1.90			(34.34	)	to	(34.67	)
	12/31/2021			287,666		47.37	to	43.46		13,008,027		0.74			1.25		to	1.75			7.55		to	7.01
	12/31/2020			311,316		44.04	to	40.61		13,128,513		-			1.25		to	1.75			22.69		to	22.07
Wanger International
	12/31/2024			1,200,028		15.26	to	13.91		17,465,653		1.38			1.25		to	1.90			(9.40	)	to	(9.99	)
	12/31/2023			1,232,699		16.84	to	15.45		19,872,877		0.32			1.25		to	1.90			15.51		to	14.76
	12/31/2022			1,329,373		14.58	to	13.46		18,628,060		0.89			1.25		to	1.90			(34.72	)	to	(35.04	)
	12/31/2021			1,192,700		22.32	to	20.73		25,662,658		0.57			1.25		to	1.75			17.33		to	16.75
	12/31/2020			1,436,353		19.02	to	17.75		26,398,450		2.21			1.25		to	1.75			12.94		to	12.38

⁽¹⁾  See Footnote 1

48

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

5. Financial Highlights (continued)

* These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest.

** These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded.

*** These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return.

49

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

6.  Administrative and Mortality and Expense Risk Charges

TLIC deducts an annual charge during the accumulation phase, not to exceed $75, proportionately from the subaccounts’ unit values. An annual charge ranging from 1.25% to 1.90% is deducted (based on the death benefit selected) from the unit values of the subaccounts of the Separate Account for TLIC’s assumption of certain mortality and expense risks incurred in connection with the contract. The charge is assessed daily based on the net asset value of the Mutual Fund. Charges for administrative and mortality and expense risk are an expense of the subaccount. Charges reflected above are those currently assessed and may be subject to change. Contract owners should see their actual policy and any related attachments to determine their specific charges.

In addition to M&E, the following subaccounts are assessed a fund fee or credit:

Subaccount	Fund Fee/Credit
American Funds - Asset Allocation Class 2 Shares	0.15%
American Funds - Growth Class 2 Shares	0.15%
American Funds - Growth-Income Class 2 Shares	0.15%
American Funds - International Class 2 Shares	0.15%
American Funds - The Bond Fund of America Class 2 Shares	0.15%
Eaton Vance VT Floating-Rate Income	-0.10%
Franklin Templeton Foreign Class 2 Shares	-0.10%
Franklin Templeton Growth Class 2 Shares	-0.10%
Invesco V.I. Main Street Series II Shares	-0.10%
Janus Henderson - Enterprise Service Shares	-0.10%
Janus Henderson - Forty Service Shares	-0.10%
Pioneer High Yield VCT Class II Shares	-0.05%
TA JPMorgan Enhanced Index Initial Class	-0.10%
TA T. Rowe Price Small Cap Initial Class	-0.10%
TA TSW International Equity Service Class	-0.10%
TA WMC US Growth Initial Class	-0.10%
TA WMC US Growth Service Class	-0.10%

7. Income Tax

Operations of the Separate Account form a part of TLIC, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended (the Code). The operations of the Separate Account are accounted for separately from other operations of TLIC for purposes of federal income taxation. The Separate Account is not separately taxable as a regulated investment company under Subchapter M of the Code and is not otherwise taxable as an entity separate from TLIC. Under existing federal income tax laws, the income of the Separate Account is not taxable to TLIC, as long as earnings are credited under the variable annuity contracts.

50

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

8.  Subsequent Events

The Separate Account has evaluated the financial statements for subsequent events through the date which the financial statements were issued. During this period, there were no subsequent events requiring recognition in the financial statements.

9.  Related Parties

Transamerica Capital, Inc. (TCI), a wholesaling broker-dealer, is an affiliated entity of TLIC and an indirect wholly owned subsidiary of Aegon Ltd. TCI distributes TLIC’s products through broker-dealers and other financial intermediaries.

The subaccounts invest in the mutual funds listed in Footnote 1. These investments include funds managed by Transamerica Asset Management, Inc. (TAM). Transamerica Fund Services, Inc. (TFS) serves as a transfer agent to TAM, and Aegon USA Asset Management Holding, LLC (AAM) serves as a sub-advisor for certain funds managed by TAM. TAM, TFS and AAM are affiliated entities of TLIC and indirect wholly owned subsidiaries of Aegon Ltd. Funds managed by TAM are identified by their fund name, which includes reference to Aegon, Transamerica or both. The Separate Account pays management fees to the related funds as detailed in the fund prospectus.

No charges other than those disclosed in Footnote 6 are deducted for the service rendered by related parties.

Contract owners may transfer funds between available subaccount options within the Separate Account. These transfers are performed at unit value at the time of the transfer.

51

Transamerica Life Insurance Company

Merrill Lynch Life Variable Annuity Separate Account A

Notes to Financial Statements

December 31, 2024

10. Segment Reporting

Each fund of the Separate Account constitutes a single operating segment and therefore, a single reportable segment because the Chief Operating Decision Maker (CODM) manages the activities of the Separate Account using information of each fund. The Separate Account is engaged in a single line of business as a registered unit investment trust. The Separate Account is a funding vehicle for individual variable annuity contracts with the assets owned by TLIC to support the liabilities of the applicable insurance contracts. The subaccounts have identified the President and Chief Operating Officer as the CODM as the Separate Account does not have employees and is not a separate legal entity.

The CODM uses increase (decrease) in net assets from operations as their performance measure in order to make operational decisions while monitoring the net assets of each of the funds within the Separate Account. The Accounting policies used to measure profit and loss of the segments are the same as those described in the Summary of Significant Accounting Policies (see note 2). The measure of segment assets is reported on the balance sheet as total consolidated assets. Refer to the Statements of Operations and Changes in Net Assets for each fund’s operating segment and related footnotes for significant expenses principle and the existing segment requirements as of December 31, 2024 and for the year ended December 31, 2024 and December 31, 2023.

52