Protective Variable Annuity Separate Account

Financial Statements

Year Ended December 31, 2023

(With Report of Independent Registered Public Accounting Firm Thereon)

Report of Independent Registered Public Accounting Firm

To the Contract Owners of Protective Variable Annuity Separate Account and the Board of Directors of Protective Life Insurance Company:

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of the subaccounts listed in Appendix A that comprise Protective Variable Annuity Separate Account (the Separate Account) as of December 31, 2023, the related statements of operations for the year or period then ended, the statements of changes in net assets for each of the years or periods in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years or periods in the five-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Separate Account as of December 31, 2023, the results of its operations for the year or period then ended, the changes in its net assets for each of the years or periods in the two-year period then ended, and the financial highlights for each of the years or periods in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements and financial highlights 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 and financial highlights 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 and financial highlights, 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 and financial highlights. Such procedures also included confirmation of securities owned as of December 31, 2023, by correspondence with the underlying mutual funds or their transfer agents; when replies were not received, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the auditor of one or more Protective Life Insurance Company Separate Accounts since 2019.

Birmingham, Alabama
April 12, 2024

Appendix A

The subaccounts that comprise Protective Variable Annuity Separate Account were audited according to varying periods as defined in the table below:

Subaccount	Statement of Assets and Liabilities	Statement of Operations	Statements of Changes in Net Assets
AB VPS Discovery Value Portfolio, Class B	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
AB VPS Large Cap Growth Portfolio, Class B	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
AB VPS Relative Value Portfolio, Class B	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
AB VPS Small Cap Growth Portfolio, Class B	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Century Investments VP Balanced Fund, Class I	As of December 31, 2023	For the year then ended December 31, 2023	For the period from September 12, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
American Century Investments VP International Fund, Class I	As of December 31, 2023	For the period from October 30, 2023 (commencement of operations) to December 31, 2023	For the period from October 30, 2023 (commencement of operations) to December 31, 2023
American Century Investments VP Ultra Fund, Class I	As of December 31, 2023	For the period from May 15, 2023 (commencement of operations) to December 31, 2023	For the period from May 15, 2023 (commencement of operations) to December 31, 2023
American Funds IS American High- Income Trust, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS American High- Income Trust, Class 4	As of December 31, 2023	For the period from March 15, 2023 (commencement of operations) to December 31, 2023	For the period from March 15, 2023 (commencement of operations) to December 31, 2023
American Funds IS Asset Allocation Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Asset Allocation Fund, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

American Funds IS Capital Income Builder, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Capital Income Builder, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Capital World Bond Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For the period from January 13, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
American Funds IS Capital World Bond Fund, Class 4	As of December 31, 2023	For the period from March 16, 2023 (commencement of operations) to December 31, 2023	For the period from March 16, 2023 (commencement of operations) to December 31, 2023
American Funds IS Capital World Growth and Income Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Capital World Growth and Income Fund, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Global Growth Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Global Growth Fund, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Global Small Capitalization Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Global Small Capitalization Fund, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Growth Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Growth Fund, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Growth-Income Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

American Funds IS Growth-Income Fund, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS International Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS International Fund, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS International Growth and Income Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS International Growth and Income Fund, Class 4	As of December 31, 2023	For the period from January 23, 2023 (commencement of operations) to December 31, 2023	For the period from January 23, 2023 (commencement of operations) to December 31, 2023
American Funds IS New World Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS New World Fund, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS The Bond Fund of America, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS The Bond Fund of America, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS U.S. Government Securities Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS U.S. Government Securities Fund, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Washington Mutual Investors Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
American Funds IS Washington Mutual Investors Fund, Class 4	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
BlackRock Advantage SMID Cap V.I. Fund, Class III	As of December 31, 2023	For the period from November 22, 2023 (commencement of operations) to December 31, 2023	For the period from November 22, 2023 (commencement of operations) to December 31, 2023
BlackRock Global Allocation V.I. Fund, Class III	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
BlackRock International V.I. Fund, Class I	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Calvert VP SRI Balanced Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
ClearBridge Variable Dividend Strategy Portfolio, Class II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
ClearBridge Variable Large Cap Growth Portfolio, Class II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
ClearBridge Variable Mid Cap Portfolio, Class II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
ClearBridge Variable Small Cap Growth Portfolio, Class II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Columbia VP Balanced Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Columbia VP Emerging Markets Bond Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For the period from January 18, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Columbia VP Intermediate Bond Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Columbia VP Limited Duration Credit Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Columbia VP Select Mid Cap Value Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Columbia VP Seligman Global Technology Fund, Class 2	As of December 31, 2023	For the period from October 20, 2023 (commencement of operations) to December 31, 2023	For the period from October 20, 2023 (commencement of operations) to December 31, 2023
Columbia VP Strategic Income Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Dimensional VA Equity Allocation Portfolio, Institutional	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Dimensional VA Global Bond Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Dimensional VA Global Moderate Allocation Portfolio, Institutional	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Dimensional VA International Small Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Dimensional VA International Value Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Dimensional VA Short- Term Fixed Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Dimensional VA US Large Value Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Dimensional VA US Targeted Value Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Asset Manager Growth Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For the period from March 18, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Fidelity VIP Asset Manager Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Balanced Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Bond Index Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Fidelity VIP Contrafund Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Energy Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Equity- Income Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Extended Market Index Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For the period from April 19, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Fidelity VIP Freedom Funds 2015 Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Freedom Funds 2020 Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP FundsManager 20% Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP FundsManager 60% Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For the period from March 14, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Fidelity VIP FundsManager 85% Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For the period from January 18, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Fidelity VIP Growth & Income Portfolio, Service Class 2	As of December 31, 2023	For the period from May 10, 2023 (commencement of operations) to December 31, 2023	For the period from May 10, 2023 (commencement of operations) to December 31, 2023
Fidelity VIP Growth Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Health Care Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Fidelity VIP High Income Portfolio, Service Class 2	As of December 31, 2023	For the period from August 10, 2023 (commencement of operations) to December 31, 2023	For the period from August 10, 2023 (commencement of operations) to December 31, 2023
Fidelity VIP Index 500 Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP International Capital Appreciation Portfolio, Service Class 2	As of December 31, 2023	For the period from June 22, 2023 (commencement of operations) to December 31, 2023	For the period from June 22, 2023 (commencement of operations) to December 31, 2023
Fidelity VIP International Index Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Investment Grade Bond Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Mid Cap Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Strategic Income Portfolio, Service Class 2	As of December 31, 2023	For the period from September 15, 2023 (commencement of operations) to December 31, 2023	For the period from September 15, 2023 (commencement of operations) to December 31, 2023
Fidelity VIP Target Volatility Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Fidelity VIP Technology Portfolio, Initial Class	As of December 31, 2023	For the year then ended December 31, 2023	For the period from January 28, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Fidelity VIP Total Market Index Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For the period from January 21, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Fidelity VIP Utilities Portfolio, Initial Class	As of December 31, 2023	For the year then ended December 31, 2023	For the period from March 10, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023

Fidelity VIP Value Strategies Portfolio, Service Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For the period from January 12, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Franklin DynaTech VIP Fund	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Franklin Income VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Franklin Multi-Asset Dynamic Multi-Strategy VIT, Class 2	Not applicable	Not applicable	For the period from January 1, 2022 to August 31, 2022 (cessation of operations)
Franklin Mutual Global Discovery VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Franklin Mutual Shares VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Franklin Rising Dividends VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Franklin Small Cap Value VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Franklin Small-Mid Cap Growth VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Franklin Strategic Income VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Franklin U.S. Government Securities VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT Core Fixed Income Fund, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT International Equity Insights Fund, Institutional Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT International Equity Insights Fund, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Goldman Sachs VIT Large Cap Value Fund, Institutional Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT Large Cap Value Fund, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT Mid Cap Growth Fund, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT Mid Cap Value Fund, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT Small Cap Equity Insights Fund, Institutional Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT Small Cap Equity Insights Fund, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT Strategic Growth Fund, Institutional Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT Strategic Growth Fund, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT Trend Driven Allocation, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Goldman Sachs VIT U.S. Equity Insights Fund, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Guggenheim Floating Rate Strategies, Series F	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Guggenheim Global Managed Futures Strategy Fund	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Guggenheim Long Short Equity Fund	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Guggenheim Multi- Hedge Strategies Fund	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. American Franchise Fund, Series I	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. American Franchise Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. American Value Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Balanced- Risk Allocation Fund Class, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Capital Appreciation Fund, Series I	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Capital Appreciation Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Comstock Fund, Series I	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Comstock Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Conservative Balanced Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Discovery Mid Cap Growth Fund, Series I	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Discovery Mid Cap Growth Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Invesco V.I. Equity and Income Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. EQV International Equity Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Global Fund, Series I	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Global Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Global Real Estate Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Global Strategic Income Fund	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Global Strategic Income Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Government Securities Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Growth and Income Fund, Series I	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Growth and Income Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Main Street Fund, Series I	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Main Street Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Main Street Mid Cap Fund, Series II	As of December 31, 2023	For the period from October 20, 2023 (commencement of operations) to December 31, 2023	For the period from October 20, 2023 (commencement of operations) to December 31, 2023
Invesco V.I. Main Street Small Cap Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Invesco V.I. Small Cap Equity Fund, Series II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Invesco V.I. U.S. Government Money Portfolio, Series I	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Janus Henderson Forty Fund, Class S	As of December 31, 2023	For the year then ended December 31, 2023	For the period from August 22, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Janus Henderson Global Sustainable Equity Fund	As of December 31, 2023	For the period from June 26, 2023 (commencement of operations) to December 31, 2023	For the period from June 26, 2023 (commencement of operations) to December 31, 2023
Janus Henderson Overseas Fund, Class S	As of December 31, 2023	For the year then ended December 31, 2023	For the period from August 22, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Janus Henderson VIT Balanced Portfolio, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For the period from August 22, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Janus Henderson VIT Global Technology and Innovation Portfolio, Service Shares	As of December 31, 2023	For the year then ended December 31, 2023	For the period from August 22, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Lord Abbett Series Fund Bond Debenture Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Lord Abbett Series Fund Fundamental Equity Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Lord Abbett Series Fund Growth and Income Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Lord Abbett Series Fund Growth Opportunities Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Lord Abbett Series Fund Inc. Dividend Growth Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Lord Abbett Series Fund Mid Cap Stock Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Lord Abbett Series Fund Short Duration Income Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Core Equity Portfolio, Service Class	As of December 31, 2023	For the period from October 20, 2023 (commencement of operations) to December 31, 2023	For the period from October 20, 2023 (commencement of operations) to December 31, 2023
MFS Emerging Markets Equity Portfolio, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Global Real Estate Portfolio, Service Class	As of December 31, 2023	For the period from October 30, 2023 (commencement of operations) to December 31, 2023	For the period from October 30, 2023 (commencement of operations) to December 31, 2023
MFS Growth Series, Initial Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Growth Series, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS International Growth Portfolio, Service Class	As of December 31, 2023	For the period from June 8, 2023 (commencement of operations) to December 31, 2023	For the period from June 8, 2023 (commencement of operations) to December 31, 2023
MFS International Intrinsic Value Portfolio, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Investors Trust Series, Initial Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Investors Trust Series, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Massachusetts Investors Growth Stock Portfolio, Initial Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Massachusetts Investors Growth Stock Portfolio, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Mid Cap Growth Series, Service Class	As of December 31, 2023	For the period from December 7, 2023 (commencement of operations) to December 31, 2023	For the period from December 7, 2023 (commencement of operations) to December 31, 2023

MFS Mid Cap Value Portfolio, Service Class	As of December 31, 2023	For the period from December 7, 2023 (commencement of operations) to December 31, 2023	For the period from December 7, 2023 (commencement of operations) to December 31, 2023
MFS New Discovery Series, Initial Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS New Discovery Series, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Research Series, Initial Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Research Series, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Total Return Bond Series, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Total Return Series, Initial Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Total Return Series, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Utilities Series, Initial Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Utilities Series, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
MFS Value Series, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Morgan Stanley VIF Core Plus Fixed Income Portfolio	Not applicable	For the period from January 1, 2023 to July 26, 2023 (cessation of operations)	For the periods from September 12, 2022 (commencement of operations) to December 31, 2022 and January 1, 2023 to July 26, 2023 (cessation of operations)
Morgan Stanley VIF Global Real Estate Portfolio, Class II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Morgan Stanley VIF Global Strategist Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For the period from December 2, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023

PIMCO All Asset Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
PIMCO Commodity RealReturn Strategy Portfolio, Advisor Class	As of December 31, 2023	For the year then ended December 31, 2023	For the period from November 9, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
PIMCO Global Diversified Allocation Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
PIMCO High Yield Portfolio, Advisor Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
PIMCO Income Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
PIMCO Long-Term U.S. Government Portfolio, Advisor Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
PIMCO Low Duration Portfolio, Advisor Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
PIMCO Real Return Portfolio, Advisor Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
PIMCO Short-Term Portfolio, Advisor Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
PIMCO Total Return Portfolio, Advisor Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Protective Life Dynamic Allocation Series Conservative Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Protective Life Dynamic Allocation Series Growth Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Protective Life Dynamic Allocation Series Moderate Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Royce Capital Fund Micro Cap Portfolio, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Royce Capital Fund Small Cap Portfolio, Service Class	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Rydex Commodities Strategy	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Rydex Inverse Government Long Bond Strategy	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
T. Rowe Price All-Cap Opportunities Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
T. Rowe Price Blue Chip Growth Portfolio, Class II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
T. Rowe Price Health Sciences Portfolio, Class II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
T. Rowe Price Mid- Cap Growth Portfolio, Class II	As of December 31, 2023	For the period from September 25, 2023 (commencement of operations) to December 31, 2023	For the period from September 25, 2023 (commencement of operations) to December 31, 2023
T. Rowe Price Moderate Allocation Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For the period from January 21, 2022 (commencement of operations) to December 31, 2022 and the year then ended December 31, 2023
Templeton Developing Markets VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Templeton Foreign VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Templeton Global Bond VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Templeton Growth VIP Fund, Class 2	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
VanEck VIP Global Resources Fund, Class I	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Vanguard VIF Balanced Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Capital Growth Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Conservative Allocation Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Diversified Value Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Equity Income Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Equity Index Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Global Bond Index Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Growth Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF High Yield Bond Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF International Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Mid- Cap Index Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Moderate Allocation Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Money Market Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Real Estate Index Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Short- Term Investment- Grade Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Total Bond Market Index Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

Vanguard VIF Total International Stock Market Index Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Vanguard VIF Total Stock Market Index Portfolio	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023
Western Asset Core Plus VIT Portfolio, Class II	As of December 31, 2023	For the year then ended December 31, 2023	For each of the years in the two-year period then ended December 31, 2023

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	AB VPS Relative Value Portfolio, Class B		AB VPS Large Cap Growth Portfolio, Class B		AB VPS Small Cap Growth Portfolio, Class B		AB VPS Discovery Value Portfolio, Class B		American Century Investments VP Balanced Fund, Class I		American Century Investments VP International Fund, Class I		American Century Investments VP Ultra Fund, Class I
ASSETS:
Investments at fair value ⁽¹⁾	$	2,085,104	$	28,324,159	$	471,136	$	1,076,083	$	100,430	$	136,563	$	137,213
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		47,373		88		-		-		-		-
Receivable from the fund manager		57		-		-		32		2		5		5
Receivable from the Company		-		-		-		-		-		-		-
Total assets		2,085,161		28,371,532		471,224		1,076,115		100,432		136,568		137,218

LIABILITIES:
Payable to the Contracts		57		-		-		32		2		5		5
Payable to the fund manager		-		47,373		88		-		-		-		-
Payable to the Company		20		51		12		18		1		1		4
Total liabilities		77		47,424		100		50		3		6		9

NET ASSETS	$	2,085,084	$	28,324,108	$	471,124	$	1,076,065	$	100,429	$	136,562	$	137,209

ANALYSIS OF NET ASSETS
Accumulation period	$	2,085,084	$	28,324,108	$	471,124	$	1,076,065	$	100,429	$	136,562	$	137,209
Annuity period		-		-		-		-		-		-		-
Total net assets	$	2,085,084	$	28,324,108	$	471,124	$	1,076,065	$	100,429	$	136,562	$	137,209

Fair value per share (NAV)	$	28.78	$	66.96	$	7.97	$	17.44	$	7.65	$	10.58	$	25.65
Shares outstanding in the Separate Account		72,450		423,001		59,114		61,702		13,128		12,908		5,349

⁽¹⁾ Investments in mutual fund shares, at cost	$	2,096,788	$	26,105,995	$	513,841	$	1,053,097	$	97,627	$	127,313	$	120,775

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Growth-Income Fund, Class 2		American Funds IS Growth Fund, Class 2		American Funds IS American High-Income Trust, Class 2		American Funds IS U.S. Government Securities Fund, Class 2		American Funds IS International Growth and Income Fund, Class 2		American Funds IS Asset Allocation Fund, Class 2		American Funds IS International Fund, Class 2
ASSETS:
Investments at fair value ⁽¹⁾	$	19,940,262	$	66,704,877	$	724,172	$	3,776,171	$	1,047,622	$	89,470,743	$	9,668,775
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		772		3,798		58		87		23		4,831		352
Receivable from the Company		-		24		-		-		-		-		-
Total assets		19,941,034		66,708,699		724,230		3,776,258		1,047,645		89,475,574		9,669,127

LIABILITIES:
Payable to the Contracts		772		3,798		58		87		23		4,831		352
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		32		-		5		26		12		7,292		84
Total liabilities		804		3,798		63		113		35		12,123		436

NET ASSETS	$	19,940,230	$	66,704,901	$	724,167	$	3,776,145	$	1,047,610	$	89,463,451	$	9,668,691

ANALYSIS OF NET ASSETS
Accumulation period	$	19,940,230	$	66,704,901	$	724,167	$	3,776,145	$	1,047,610	$	89,353,756	$	9,668,691
Annuity period		-		-		-		-		-		109,695		-
Total net assets	$	19,940,230	$	66,704,901	$	724,167	$	3,776,145	$	1,047,610	$	89,463,451	$	9,668,691

Fair value per share (NAV)	$	58.30	$	98.20	$	8.73	$	9.78	$	9.82	$	23.53	$	17.41
Shares outstanding in the Separate Account		342,029		679,276		82,952		386,112		106,682		3,802,412		555,358

⁽¹⁾ Investments in mutual fund shares, at cost	$	19,304,220	$	64,662,899	$	751,262	$	4,615,245	$	1,108,173	$	74,394,446	$	11,394,023

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Washington Mutual Investors Fund, Class 2		American Funds IS Capital World Growth and Income Fund, Class 2		American Funds IS Global Small Capitalization Fund, Class 2		American Funds IS New World Fund, Class 2		American Funds IS Global Growth Fund, Class 2		American Funds IS The Bond Fund of America, Class 2		American Funds IS Capital World Bond Fund, Class 2
ASSETS:
Investments at fair value ⁽¹⁾	$	42,268,245	$	6,858,809	$	7,483,947	$	9,511,068	$	95,730,195	$	40,677,721	$	459,642
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		9,671		263		255		325		22,980		2,610		12
Receivable from the Company		11		-		-		-		16		-		-
Total assets		42,277,927		6,859,072		7,484,202		9,511,393		95,753,191		40,680,331		459,654

LIABILITIES:
Payable to the Contracts		9,671		263		255		325		22,980		2,610		12
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		-		30		51		41		-		20		3
Total liabilities		9,671		293		306		366		22,980		2,630		15

NET ASSETS	$	42,268,256	$	6,858,779	$	7,483,896	$	9,511,027	$	95,730,211	$	40,677,701	$	459,639

ANALYSIS OF NET ASSETS
Accumulation period	$	42,268,256	$	6,858,779	$	7,483,896	$	9,511,027	$	95,730,211	$	40,677,701	$	459,639
Annuity period		-		-		-		-		-		-		-
Total net assets	$	42,268,256	$	6,858,779	$	7,483,896	$	9,511,027	$	95,730,211	$	40,677,701	$	459,639

Fair value per share (NAV)	$	14.21	$	13.81	$	17.50	$	25.17	$	33.44	$	9.40	$	10.03
Shares outstanding in the Separate Account		2,974,542		496,655		427,654		377,873		2,862,745		4,327,417		45,827


⁽¹⁾ Investments in mutual fund shares, at cost	$	41,480,193	$	7,597,782	$	9,927,192	$	9,957,711	$	87,141,712	$	44,571,421	$	478,715

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Growth-Income Fund, Class 4		American Funds IS Growth Fund, Class 4		American Funds IS American High-Income Trust, Class 4		American Funds IS U.S. Government Securities Fund, Class 4		American Funds IS International Growth and Income Fund, Class 4		American Funds IS Asset Allocation Fund, Class 4		American Funds IS International Fund, Class 4
ASSETS:
Investments at fair value ⁽¹⁾	$	35,023,173	$	74,958,582	$	1,540,912	$	7,395,039	$	831,772	$	55,461,991	$	6,918,446
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		5,527		28,500		-		-		-		-		834
Receivable from the fund manager		-		-		126		603		77		1,110		-
Receivable from the Company		6		48		-		-		-		1		-
Total assets		35,028,706		74,987,130		1,541,038		7,395,642		831,849		55,463,102		6,919,280

LIABILITIES:
Payable to the Contracts		-		-		126		603		77		1,110		-
Payable to the fund manager		5,527		28,500		-		-		-		-		834
Payable to the Company		-		-		8		41		8		-		47
Total liabilities		5,527		28,500		134		644		85		1,110		881

NET ASSETS	$	35,023,179	$	74,958,630	$	1,540,904	$	7,394,998	$	831,764	$	55,461,992	$	6,918,399

ANALYSIS OF NET ASSETS
Accumulation period	$	35,023,179	$	74,958,630	$	1,540,904	$	7,394,998	$	831,764	$	55,461,992	$	6,918,399
Annuity period		-		-		-		-		-		-		-
Total net assets	$	35,023,179	$	74,958,630	$	1,540,904	$	7,394,998	$	831,764	$	55,461,992	$	6,918,399

Fair value per share (NAV)	$	57.34	$	95.70	$	9.75	$	9.77	$	9.67	$	23.34	$	17.13
Shares outstanding in the Separate Account		610,798		783,266		158,042		756,913		86,016		2,376,264		403,879

⁽¹⁾ Investments in mutual fund shares, at cost	$	30,697,016	$	63,515,062	$	1,513,299	$	8,122,644	$	794,032	$	53,396,758	$	6,693,626

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Washington Mutual Investors Fund, Class 4		American Funds IS Capital World Growth and Income Fund, Class 4		American Funds IS Global Small Capitalization Fund, Class 4		American Funds IS New World Fund, Class 4		American Funds IS Global Growth Fund, Class 4		American Funds IS The Bond Fund of America, Class 4		American Funds IS Capital World Bond Fund, Class 4
ASSETS:
Investments at fair value ⁽¹⁾	$	16,839,340	$	5,692,631	$	1,806,830	$	797,616	$	46,866,310	$	37,465,482	$	1,544,229
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		2,102		-		-		-		32,335		919		-
Receivable from the fund manager		-		393		181		32		-		-		90
Receivable from the Company		-		-		-		-		6		-		-
Total assets		16,841,442		5,693,024		1,807,011		797,648		46,898,651		37,466,401		1,544,319

LIABILITIES:
Payable to the Contracts		-		393		181		32		-		-		90
Payable to the fund manager		2,102		-		-		-		32,335		919		-
Payable to the Company		22		89		37		6		-		32		8
Total liabilities		2,124		482		218		38		32,335		951		98

NET ASSETS	$	16,839,318	$	5,692,542	$	1,806,793	$	797,610	$	46,866,316	$	37,465,450	$	1,544,221

ANALYSIS OF NET ASSETS
Accumulation period	$	16,839,318	$	5,692,542	$	1,806,793	$	797,610	$	46,866,316	$	37,465,450	$	1,544,221
Annuity period		-		-		-		-		-		-		-
Total net assets	$	16,839,318	$	5,692,542	$	1,806,793	$	797,610	$	46,866,316	$	37,465,450	$	1,544,221

Fair value per share (NAV)	$	14.06	$	13.46	$	17.46	$	24.95	$	33.08	$	9.35	$	9.88
Shares outstanding in the Separate Account		1,197,677		422,929		103,484		31,969		1,416,757		4,007,003		156,299

⁽¹⁾ Investments in mutual fund shares, at cost	$	15,587,517	$	5,798,391	$	1,740,969	$	759,606	$	43,357,232	$	38,622,077	$	1,467,936

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Capital Income Builder, Class 2		American Funds IS Capital Income Builder, Class 4		BlackRock Global Allocation V.I. Fund, Class III		BlackRock International V.I. Fund, Class I		BlackRock Advantage SMID Cap V.I. Fund, Class III		BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III		Calvert VP SRI Balanced Portfolio
ASSETS:
Investments at fair value ⁽¹⁾	$	7,613,151	$	14,355,779	$	27,312,230	$	1,415,944	$	171,515	$	12,181,412	$	1,198,400
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		18,381		-		39,998		59,185		-
Receivable from the fund manager		350		3,673		-		59		-		-		46
Receivable from the Company		-		-		-		-		-		-		-
Total assets		7,613,501		14,359,452		27,330,611		1,416,003		211,513		12,240,597		1,198,446

LIABILITIES:
Payable to the Contracts		350		3,673		-		59		-		-		46
Payable to the fund manager		-		-		18,381		-		39,998		59,185		-
Payable to the Company		39		41		61		23		-		76		24
Total liabilities		389		3,714		18,442		82		39,998		59,261		70

NET ASSETS	$	7,613,112	$	14,355,738	$	27,312,169	$	1,415,921	$	171,515	$	12,181,336	$	1,198,376

ANALYSIS OF NET ASSETS
Accumulation period	$	7,613,112	$	14,355,738	$	27,312,169	$	1,415,921	$	171,515	$	12,181,336	$	1,198,376
Annuity period		-		-		-		-		-		-		-
Total net assets	$	7,613,112	$	14,355,738	$	27,312,169	$	1,415,921	$	171,515	$	12,181,336	$	1,198,376

Fair value per share (NAV)	$	11.62	$	11.60	$	13.03	$	10.09	$	9.90	$	13.15	$	2.37
Shares outstanding in the Separate Account		655,176		1,237,567		2,096,104		140,331		17,325		926,343		505,654

⁽¹⁾ Investments in mutual fund shares, at cost	$	7,100,218	$	13,216,625	$	26,306,579	$	1,323,932	$	166,493	$	11,557,215	$	1,063,272

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	ClearBridge Variable Large Cap Growth Portfolio, Class II		Columbia VP Emerging Markets Bond Fund, Class 2		Columbia VP Strategic Income Fund, Class 2		Columbia VP Intermediate Bond Fund, Class 2		Columbia VP Limited Duration Credit Fund, Class 2		Columbia VP Select Mid Cap Value Fund, Class 2		Columbia VP Seligman Global Technology Fund, Class 2
ASSETS:
Investments at fair value ⁽¹⁾	$	805,268	$	500,893	$	15,022,120	$	2,053,291	$	705,885	$	1,250,120	$	253,087
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		45,409		-		-		-		-
Receivable from the fund manager		26		69		-		117		28		88		8
Receivable from the Company		-		-		-		-		-		-		-
Total assets		805,294		500,962		15,067,529		2,053,408		705,913		1,250,208		253,095

LIABILITIES:
Payable to the Contracts		26		69		-		117		28		88		8
Payable to the fund manager		-		-		45,409		-		-		-		-
Payable to the Company		16		4		107		20		2		21		3
Total liabilities		42		73		45,516		137		30		109		11

NET ASSETS	$	805,252	$	500,889	$	15,022,013	$	2,053,271	$	705,883	$	1,250,099	$	253,084

ANALYSIS OF NET ASSETS
Accumulation period	$	805,252	$	500,889	$	15,022,013	$	2,053,271	$	705,883	$	1,250,099	$	253,084
Annuity period		-		-		-		-		-		-		-
Total net assets	$	805,252	$	500,889	$	15,022,013	$	2,053,271	$	705,883	$	1,250,099	$	253,084

Fair value per share (NAV)	$	38.07	$	7.85	$	3.65	$	8.55	$	9.43	$	35.70	$	24.18
Shares outstanding in the Separate Account		21,152		63,808		4,115,649		240,151		74,855		35,017		10,467

⁽¹⁾ Investments in mutual fund shares, at cost	$	746,661	$	484,790	$	14,722,569	$	2,125,273	$	693,602	$	1,157,528	$	229,128

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Columbia VP Balanced Fund, Class 2		Dimensional VA Short-Term Fixed Portfolio		Dimensional VA Global Bond Portfolio		Dimensional VA US Large Value Portfolio		Dimensional VA US Targeted Value Portfolio		Dimensional VA International Value Portfolio		Dimensional VA International Small Portfolio
ASSETS:
Investments at fair value ⁽¹⁾	$	6,273,476	$	2,238,745	$	1,404,766	$	3,515,714	$	2,041,209	$	1,461,997	$	1,082,723
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		1,066		-		-		-		-		-		-
Receivable from the fund manager		-		18		12		29		16		11		8
Receivable from the Company		-		-		-		-		-		-		-
Total assets		6,274,542		2,238,763		1,404,778		3,515,743		2,041,225		1,462,008		1,082,731

LIABILITIES:
Payable to the Contracts		-		18		12		29		16		11		8
Payable to the fund manager		1,066		-		-		-		-		-		-
Payable to the Company		83		1		-		20		12		6		8
Total liabilities		1,149		19		12		49		28		17		16

NET ASSETS	$	6,273,393	$	2,238,744	$	1,404,766	$	3,515,694	$	2,041,197	$	1,461,991	$	1,082,715

ANALYSIS OF NET ASSETS
Accumulation period	$	6,273,393	$	2,238,744	$	1,404,766	$	3,515,694	$	2,041,197	$	1,461,991	$	1,082,715
Annuity period		-		-		-		-		-		-		-
Total net assets	$	6,273,393	$	2,238,744	$	1,404,766	$	3,515,694	$	2,041,197	$	1,461,991	$	1,082,715

Fair value per share (NAV)	$	41.67	$	10.03	$	9.71	$	32.54	$	22.60	$	13.61	$	11.88
Shares outstanding in the Separate Account		150,551		223,205		144,672		108,043		90,319		107,421		91,138

⁽¹⁾ Investments in mutual fund shares, at cost	$	5,804,891	$	2,256,970	$	1,474,149	$	3,382,106	$	2,019,076	$	1,396,726	$	1,120,692

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Dimensional VA Global Moderate Allocation Portfolio, Institutional		Dimensional VA Equity Allocation Portfolio, Institutional		Fidelity VIP Equity-Income Portfolio, Service Class 2		Fidelity VIP Growth Portfolio, Service Class 2		Fidelity VIP High Income Portfolio, Service Class 2		Fidelity VIP Asset Manager Portfolio, Service Class 2		Fidelity VIP Asset Manager Growth Portfolio, Service Class 2
ASSETS:
Investments at fair value ⁽¹⁾	$	565,741	$	324,362	$	5,183,031	$	2,785,089	$	31,147	$	643,071	$	8,435,414
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		5		3		322		16,943		1		16		3,153
Receivable from the Company		-		-		-		-		-		-		-
Total assets		565,746		324,365		5,183,353		2,802,032		31,148		643,087		8,438,567

LIABILITIES:
Payable to the Contracts		5		3		322		16,943		1		16		3,153
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		2		2		96		74		-		7		2
Total liabilities		7		5		418		17,017		1		23		3,155

NET ASSETS	$	565,739	$	324,360	$	5,182,935	$	2,785,015	$	31,147	$	643,064	$	8,435,412

ANALYSIS OF NET ASSETS
Accumulation period	$	565,739	$	324,360	$	5,182,935	$	2,785,015	$	31,147	$	643,064	$	8,435,412
Annuity period		-		-		-		-		-		-		-
Total net assets	$	565,739	$	324,360	$	5,182,935	$	2,785,015	$	31,147	$	643,064	$	8,435,412

Fair value per share (NAV)	$	15.08	$	14.19	$	23.91	$	89.92	$	4.38	$	15.14	$	20.99
Shares outstanding in the Separate Account		37,516		22,859		216,773		30,973		7,111		42,475		401,878

⁽¹⁾ Investments in mutual fund shares, at cost	$	582,796	$	310,583	$	4,246,591	$	1,584,356	$	31,348	$	624,124	$	8,019,627

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Contrafund Portfolio, Service Class 2		Fidelity VIP Index 500 Portfolio, Service Class 2		Fidelity VIP Investment Grade Bond Portfolio, Service Class 2		Fidelity VIP Balanced Portfolio, Service Class 2		Fidelity VIP Growth & Income Portfolio, Service Class 2		Fidelity VIP Mid Cap Portfolio, Service Class 2		Fidelity VIP Utilities Portfolio, Initial Class
ASSETS:
Investments at fair value ⁽¹⁾	$	268,828,417	$	640,855,560	$	255,515,093	$	41,455,634	$	34,464	$	218,322,435	$	237,468
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		15,268		-		18,607		-		-		-
Receivable from the fund manager		111,590		-		74,483		-		1		76,793		4
Receivable from the Company		-		-		-		-		-		-		-
Total assets		268,940,007		640,870,828		255,589,576		41,474,241		34,465		218,399,228		237,472

LIABILITIES:
Payable to the Contracts		111,590		-		74,483		-		1		76,793		4
Payable to the fund manager		-		15,268		-		18,607		-		-		-
Payable to the Company		2,580		195		889		20		1		5,767		3
Total liabilities		114,170		15,463		75,372		18,627		2		82,560		7

NET ASSETS	$	268,825,837	$	640,855,365	$	255,514,204	$	41,455,614	$	34,463	$	218,316,668	$	237,465

ANALYSIS OF NET ASSETS
Accumulation period	$	268,791,130	$	640,855,365	$	255,507,271	$	41,455,614	$	34,463	$	218,233,757	$	237,465
Annuity period		34,707		-		6,933		-		-		82,911		-
Total net assets	$	268,825,837	$	640,855,365	$	255,514,204	$	41,455,614	$	34,463	$	218,316,668	$	237,465

Fair value per share (NAV)	$	46.83	$	455.28	$	10.82	$	21.54	$	26.12	$	34.69	$	20.23
Shares outstanding in the Separate Account		5,740,517		1,407,608		23,615,073		1,924,588		1,319		6,293,527		11,738

⁽¹⁾ Investments in mutual fund shares, at cost	$	188,542,910	$	461,046,726	$	294,069,437	$	38,907,935	$	33,017	$	200,208,123	$	238,721

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Technology Portfolio, Initial Class		Fidelity VIP Health Care Portfolio, Service Class 2		Fidelity VIP Value Strategies Portfolio, Service Class 2		Fidelity VIP Strategic Income Portfolio, Service Class 2		Fidelity VIP International Capital Appreciation Portfolio, Service Class 2		Fidelity VIP Freedom Funds 2015 Portfolio, Service Class 2		Fidelity VIP Freedom Funds 2020 Portfolio, Service Class 2
ASSETS:
Investments at fair value ⁽¹⁾	$	6,908,929	$	1,755,235	$	1,072,700	$	32,252	$	482,658	$	670,179	$	2,345,123
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		5,769		277		-		-		-		-		-
Receivable from the fund manager		-		-		25		1		6		22		60
Receivable from the Company		-		-		-		-		-		-		-
Total assets		6,914,698		1,755,512		1,072,725		32,253		482,664		670,201		2,345,183

LIABILITIES:
Payable to the Contracts		-		-		25		1		6		22		60
Payable to the fund manager		5,769		277		-		-		-		-		-
Payable to the Company		9		28		15		-		4		7		25
Total liabilities		5,778		305		40		1		10		29		85

NET ASSETS	$	6,908,920	$	1,755,207	$	1,072,685	$	32,252	$	482,654	$	670,172	$	2,345,098

ANALYSIS OF NET ASSETS
Accumulation period	$	6,908,920	$	1,755,207	$	1,072,685	$	32,252	$	482,654	$	670,172	$	2,345,098
Annuity period		-		-		-		-		-		-		-
Total net assets	$	6,908,920	$	1,755,207	$	1,072,685	$	32,252	$	482,654	$	670,172	$	2,345,098

Fair value per share (NAV)	$	32.11	$	33.96	$	16.75	$	10.35	$	20.94	$	11.41	$	12.40
Shares outstanding in the Separate Account		215,164		51,685		64,042		3,116		23,050		58,736		189,123

⁽¹⁾ Investments in mutual fund shares, at cost	$	6,144,801	$	1,715,903	$	986,209	$	31,897	$	434,824	$	646,556	$	2,349,890

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Energy Portfolio, Service Class 2		Fidelity VIP FundsManager 20% Portfolio, Service Class 2		Fidelity VIP FundsManager 85% Portfolio, Service Class 2		Fidelity VIP FundsManager 60% Portfolio, Service Class 2		Fidelity VIP Target Volatility Portfolio, Service Class 2		Fidelity VIP Extended Market Index Portfolio, Service Class 2		Fidelity VIP International Index Portfolio, Service Class 2
ASSETS:
Investments at fair value ⁽¹⁾	$	1,425,494	$	1,273,044	$	789,374	$	1,036,333	$	380,417	$	196,697	$	1,554,932
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		39,926		-		-		-
Receivable from the fund manager		47		41		167		-		23		4		29
Receivable from the Company		4		-		-		-		-		-		-
Total assets		1,425,545		1,273,085		789,541		1,076,259		380,440		196,701		1,554,961

LIABILITIES:
Payable to the Contracts		47		41		167		-		23		4		29
Payable to the fund manager		-		-		-		39,926		-		-		-
Payable to the Company		-		14		15		8		5		3		15
Total liabilities		47		55		182		39,934		28		7		44

NET ASSETS	$	1,425,498	$	1,273,030	$	789,359	$	1,036,325	$	380,412	$	196,694	$	1,554,917

ANALYSIS OF NET ASSETS
Accumulation period	$	1,425,498	$	1,273,030	$	789,359	$	1,036,325	$	380,412	$	196,694	$	1,554,917
Annuity period		-		-		-		-		-		-		-
Total net assets	$	1,425,498	$	1,273,030	$	789,359	$	1,036,325	$	380,412	$	196,694	$	1,554,917

Fair value per share (NAV)	$	24.59	$	10.43	$	12.05	$	9.66	$	11.56	$	12.90	$	10.56
Shares outstanding in the Separate Account		57,970		122,056		65,508		107,281		32,908		15,248		147,247

⁽¹⁾ Investments in mutual fund shares, at cost	$	1,194,304	$	1,367,891	$	677,120	$	1,005,755	$	376,905	$	183,374	$	1,490,266

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Total Market Index Portfolio		Fidelity VIP Bond Index Portfolio		Templeton Developing Markets VIP Fund, Class 2		Templeton Foreign VIP Fund, Class 2		Franklin Small-Mid Cap Growth VIP Fund, Class 2		Franklin DynaTech VIP Fund		Templeton Growth VIP Fund, Class 2
ASSETS:
Investments at fair value ⁽¹⁾	$	2,884,741	$	3,870,498	$	7,269,892	$	67,307,756	$	34,209,840	$	51,287,520	$	80,873,234
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		62		-		-		-		-		-		-
Receivable from the fund manager		-		2,903		41		19,939		2,040		2,716		43,329
Receivable from the Company		-		-		14		-		-		-		-
Total assets		2,884,803		3,873,401		7,269,947		67,327,695		34,211,880		51,290,236		80,916,563

LIABILITIES:
Payable to the Contracts		-		2,903		41		19,939		2,040		2,716		43,329
Payable to the fund manager		62		-		-		-		-		-		-
Payable to the Company		45		19		-		306		308		304		4,846
Total liabilities		107		2,922		41		20,245		2,348		3,020		48,175

NET ASSETS	$	2,884,696	$	3,870,479	$	7,269,906	$	67,307,450	$	34,209,532	$	51,287,216	$	80,868,388

ANALYSIS OF NET ASSETS
Accumulation period	$	2,884,696	$	3,870,479	$	7,269,906	$	67,307,450	$	34,209,532	$	51,287,216	$	80,798,475
Annuity period		-		-		-		-		-		-		69,913
Total net assets	$	2,884,696	$	3,870,479	$	7,269,906	$	67,307,450	$	34,209,532	$	51,287,216	$	80,868,388

Fair value per share (NAV)	$	17.19	$	9.63	$	8.23	$	14.24	$	13.32	$	4.27	$	11.99
Shares outstanding in the Separate Account		167,815		401,921		883,340		4,726,668		2,568,306		12,011,129		6,745,057

⁽¹⁾ Investments in mutual fund shares, at cost	$	2,553,640	$	3,815,648	$	7,365,746	$	71,008,985	$	40,524,978	$	59,770,540	$	76,241,254

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Templeton Global Bond VIP Fund, Class 2		Franklin Mutual Shares VIP Fund, Class 2		Franklin Mutual Global Discovery VIP Fund, Class 2		Franklin Income VIP Fund, Class 2		Franklin Rising Dividends VIP Fund, Class 2		Franklin Small Cap Value VIP Fund, Class 2		Franklin Strategic Income VIP Fund, Class 2
ASSETS:
Investments at fair value ⁽¹⁾	$	180,893,271	$	447,856,140	$	3,507,447	$	139,937,164	$	300,430,130	$	44,135,037	$	5,711,224
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		196,256		-
Receivable from the fund manager		47,499		168,657		90		92,603		110,682		-		173
Receivable from the Company		-		-		-		-		-		-		-
Total assets		180,940,770		448,024,797		3,507,537		140,029,767		300,540,812		44,331,293		5,711,397

LIABILITIES:
Payable to the Contracts		47,499		168,657		90		92,603		110,682		-		173
Payable to the fund manager		-		-		-		-		-		196,256		-
Payable to the Company		955		10,348		65		4,197		1,789		295		42
Total liabilities		48,454		179,005		155		96,800		112,471		196,551		215

NET ASSETS	$	180,892,316	$	447,845,792	$	3,507,382	$	139,932,967	$	300,428,341	$	44,134,742	$	5,711,182

ANALYSIS OF NET ASSETS
Accumulation period	$	180,883,235	$	447,691,598	$	3,507,382	$	139,878,404	$	300,404,663	$	44,134,742	$	5,711,182
Annuity period		9,081		154,194		-		54,563		23,678		-		-
Total net assets	$	180,892,316	$	447,845,792	$	3,507,382	$	139,932,967	$	300,428,341	$	44,134,742	$	5,711,182

Fair value per share (NAV)	$	12.84	$	15.33	$	18.38	$	14.20	$	26.93	$	13.27	$	9.01
Shares outstanding in the Separate Account		14,088,261		29,214,360		190,830		9,854,730		11,155,965		3,325,926		633,876

⁽¹⁾ Investments in mutual fund shares, at cost	$	259,807,934	$	461,638,444	$	3,464,785	$	144,928,215	$	253,184,664	$	47,521,698	$	6,588,799

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Franklin U.S. Government Securities VIP Fund, Class 2		Goldman Sachs VIT Large Cap Value Fund, Institutional Shares		Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Shares		Goldman Sachs VIT Small Cap Equity Insights Fund, Institutional Shares		Goldman Sachs VIT Strategic Growth Fund, Institutional Shares		Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares		Goldman Sachs VIT International Equity Insights Fund, Institutional Shares
ASSETS:
Investments at fair value ⁽¹⁾	$	311,697,164	$	31,568,171	$	23,613,179	$	17,957,188	$	29,783,680	$	5,690,723	$	17,824,932
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		135,776		106,308		4,094		660		47,003		148		12,249
Receivable from the Company		-		-		-		-		-		-		-
Total assets		311,832,940		31,674,479		23,617,273		17,957,848		29,830,683		5,690,871		17,837,181

LIABILITIES:
Payable to the Contracts		135,776		106,308		4,094		660		47,003		148		12,249
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		4,289		10,265		5,973		207		13,857		2,249		139
Total liabilities		140,065		116,573		10,067		867		60,860		2,397		12,388

NET ASSETS	$	311,692,875	$	31,557,906	$	23,607,206	$	17,956,981	$	29,769,823	$	5,688,474	$	17,824,793

ANALYSIS OF NET ASSETS
Accumulation period	$	311,632,541	$	31,410,071	$	23,522,945	$	17,956,233	$	29,572,578	$	5,657,632	$	17,824,683
Annuity period		60,334		147,835		84,261		748		197,245		30,842		110
Total net assets	$	311,692,875	$	31,557,906	$	23,607,206	$	17,956,981	$	29,769,823	$	5,688,474	$	17,824,793

Fair value per share (NAV)	$	10.36	$	8.43	$	19.53	$	12.28	$	12.54	$	16.01	$	8.85
Shares outstanding in the Separate Account		30,086,599		3,744,741		1,209,072		1,462,312		2,375,094		355,448		2,014,117

⁽¹⁾Investments in mutual fund shares, at cost	$	393,245,111	$	35,851,027	$	10,628,973	$	18,344,939	$	23,535,368	$	5,388,396	$	25,000,711

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Goldman Sachs VIT Small Cap Equity Insights Fund, Service Shares		Goldman Sachs VIT Large Cap Value Fund, Service Shares		Goldman Sachs VIT Mid Cap Growth Fund, Service Shares		Goldman Sachs VIT Core Fixed Income Fund, Service Shares		Goldman Sachs VIT Mid Cap Value Fund, Service Shares		Goldman Sachs VIT Strategic Growth Fund, Service Shares		Goldman Sachs VIT U.S. Equity Insights Fund, Service Shares
ASSETS:
Investments at fair value ⁽¹⁾	$	10,304,639	$	81,168,484	$	46,856,427	$	26,987,218	$	100,100,874	$	153,993,817	$	680,090
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		10,597		39,139		7,670		21,238		11,928		25,635		51
Receivable from the Company		-		-		-		-		-		-		-
Total assets		10,315,236		81,207,623		46,864,097		27,008,456		100,112,802		154,019,452		680,141

LIABILITIES:
Payable to the Contracts		10,597		39,139		7,670		21,238		11,928		25,635		51
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		65		1,543		357		35		1,749		101		17
Total liabilities		10,662		40,682		8,027		21,273		13,677		25,736		68

NET ASSETS	$	10,304,574	$	81,166,941	$	46,856,070	$	26,987,183	$	100,099,125	$	153,993,716	$	680,073

ANALYSIS OF NET ASSETS
Accumulation period	$	10,304,574	$	81,146,771	$	46,854,359	$	26,987,183	$	100,076,002	$	153,993,716	$	680,073
Annuity period		-		20,170		1,711		-		23,123		-		-
Total net assets	$	10,304,574	$	81,166,941	$	46,856,070	$	26,987,183	$	100,099,125	$	153,993,716	$	680,073

Fair value per share (NAV)	$	12.12	$	8.44	$	10.21	$	9.67	$	16.21	$	12.40	$	19.71
Shares outstanding in the Separate Account		850,218		9,617,119		4,589,268		2,790,819		6,175,254		12,418,856		34,505

⁽¹⁾ Investments in mutual fund shares, at cost	$	7,065,311	$	89,194,620	$	73,146,813	$	29,772,118	$	92,148,077	$	140,263,490	$	386,914

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Goldman Sachs VIT International Equity Insights Fund, Service Shares		Goldman Sachs VIT Trend Driven Allocation, Service Shares		Rydex Inverse Government Long Bond Strategy		Guggenheim Long Short Equity Fund		Rydex Commodities Strategy		Guggenheim Multi-Hedge Strategies Fund		Guggenheim Global Managed Futures Strategy Fund
ASSETS:
Investments at fair value ⁽¹⁾	$	31,257,549	$	6,548,388	$	7,755	$	166,447	$	9,627	$	516,954	$	430,719
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		26,411		1,035		-		6		-		14		12
Receivable from the Company		-		-		7		-		8		-		-
Total assets		31,283,960		6,549,423		7,762		166,453		9,635		516,968		430,731

LIABILITIES:
Payable to the Contracts		26,411		1,035		-		6		-		14		12
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		2,104		71		-		1		-		4		5
Total liabilities		28,515		1,106		-		7		-		18		17

NET ASSETS	$	31,255,445	$	6,548,317	$	7,762	$	166,446	$	9,635	$	516,950	$	430,714

ANALYSIS OF NET ASSETS
Accumulation period	$	31,227,819	$	6,548,317	$	7,762	$	166,446	$	9,635	$	516,950	$	430,714
Annuity period		27,626		-		-		-		-		-		-
Total net assets	$	31,255,445	$	6,548,317	$	7,762	$	166,446	$	9,635	$	516,950	$	430,714

Fair value per share (NAV)	$	8.90	$	11.35	$	103.20	$	16.97	$	85.48	$	25.89	$	17.17
Shares outstanding in the Separate Account		3,512,084		576,950		75		9,808		113		19,967		25,086

⁽¹⁾ Investments in mutual fund shares, at cost	$	28,761,805	$	6,602,095	$	9,878	$	152,025	$	16,525	$	471,838	$	486,755

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Guggenheim Floating Rate Strategies, Series F		Invesco V.I. Conservative Balanced Fund, Series II		Invesco V.I. Balanced-Risk Allocation Fund Class, Series II		Invesco V.I. Main Street Small Cap Fund, Series II		Invesco V.I. Global Real Estate Fund, Series II		Invesco V.I. Government Securities Fund, Series II		Invesco V.I. EQV International Equity Fund, Series II
ASSETS:
Investments at fair value ⁽¹⁾	$	3,246,385	$	36,240,395	$	50,444,187	$	6,209,756	$	9,428,730	$	117,592,738	$	51,552,480
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		51,285		-		973		154,166		-		-
Receivable from the fund manager		89		-		4,729		-		-		85,060		11,608
Receivable from the Company		-		-		-		-		-		-		-
Total assets		3,246,474		36,291,680		50,448,916		6,210,729		9,582,896		117,677,798		51,564,088

LIABILITIES:
Payable to the Contracts		89		-		4,729		-		-		85,060		11,608
Payable to the fund manager		-		51,285		-		973		154,166		-		-
Payable to the Company		4		19		202		73		83		2,297		462
Total liabilities		93		51,304		4,931		1,046		154,249		87,357		12,070

NET ASSETS	$	3,246,381	$	36,240,376	$	50,443,985	$	6,209,683	$	9,428,647	$	117,590,441	$	51,552,018

ANALYSIS OF NET ASSETS
Accumulation period	$	3,246,381	$	36,240,376	$	50,443,985	$	6,209,683	$	9,428,647	$	117,558,920	$	51,548,030
Annuity period		-		-		-		-		-		31,521		3,988
Total net assets	$	3,246,381	$	36,240,376	$	50,443,985	$	6,209,683	$	9,428,647	$	117,590,441	$	51,552,018

Fair value per share (NAV)	$	25.34	$	15.09	$	8.48	$	26.30	$	13.65	$	10.23	$	33.47
Shares outstanding in the Separate Account		128,113		2,401,617		5,948,607		236,112		690,749		11,494,891		1,540,259

⁽¹⁾ Investments in mutual fund shares, at cost	$	3,323,997	$	35,405,471	$	71,872,324	$	5,711,804	$	9,529,811	$	133,456,670	$	47,564,453

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Main Street Mid Cap Fund, Series II		Invesco V.I. Small Cap Equity Fund, Series II		Invesco V.I. American Franchise Fund, Series I		Invesco V.I. Comstock Fund, Series I		Invesco V.I . Growth and Income Fund, Series I		Invesco V.I. American Franchise Fund, Series II		Invesco V.I. Comstock Fund, Series II
ASSETS:
Investments at fair value ⁽¹⁾	$	88,609	$	16,531,825	$	5,896,000	$	21,929,769	$	24,251,654	$	2,544,278	$	140,494,402
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		8,483		-		-		-		-		-
Receivable from the fund manager		2		-		186		728		826		95		39,355
Receivable from the Company		-		-		-		-		-		-		-
Total assets		88,611		16,540,308		5,896,186		21,930,497		24,252,480		2,544,373		140,533,757

LIABILITIES:
Payable to the Contracts		2		-		186		728		826		95		39,355
Payable to the fund manager		-		8,483		-		-		-		-		-
Payable to the Company		-		90		161		342		4,165		61		4,819
Total liabilities		2		8,573		347		1,070		4,991		156		44,174

NET ASSETS	$	88,609	$	16,531,735	$	5,895,839	$	21,929,427	$	24,247,489	$	2,544,217	$	140,489,583

ANALYSIS OF NET ASSETS
Accumulation period	$	88,609	$	16,531,735	$	5,895,839	$	21,926,050	$	24,186,362	$	2,544,217	$	140,425,199
Annuity period		-		-		-		3,377		61,127		-		64,384
Total net assets	$	88,609	$	16,531,735	$	5,895,839	$	21,929,427	$	24,247,489	$	2,544,217	$	140,489,583

Fair value per share (NAV)	$	9.39	$	15.49	$	58.96	$	19.67	$	18.86	$	53.21	$	19.58
Shares outstanding in the Separate Account		9,437		1,067,258		100,000		1,114,884		1,285,878		47,816		7,175,404

⁽¹⁾ Investments in mutual fund shares, at cost	$	85,104	$	17,784,271	$	4,890,636	$	13,208,941	$	21,365,306	$	1,526,278	$	98,711,357

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Equity and Income Fund, Series II		Invesco V.I. Growth and Income Fund, Series II		Invesco V.I. American Value Fund, Series II		Protective Life Dynamic Allocation Series Growth Portfolio		Protective Life Dynamic Allocation Series Moderate Portfolio		Protective Life Dynamic Allocation Series Conservative Portfolio		Janus Henderson VIT Balanced Portfolio, Service Shares
ASSETS:
Investments at fair value ⁽¹⁾	$	190,622,380	$	440,797,326	$	72,564,258	$	46,001,540	$	692,496,940	$	41,383,864	$	5,454,742
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		29,812		-		-		-		-		-		-
Receivable from the fund manager		-		115,354		14,232		17,610		54,968		3,787		521
Receivable from the Company		-		-		-		-		7		-		-
Total assets		190,652,192		440,912,680		72,578,490		46,019,150		692,551,915		41,387,651		5,455,263

LIABILITIES:
Payable to the Contracts		-		115,354		14,232		17,610		54,968		3,787		521
Payable to the fund manager		29,812		-		-		-		-		-		-
Payable to the Company		25,526		24,034		140		36		-		148		-
Total liabilities		55,338		139,388		14,372		17,646		54,968		3,935		521

NET ASSETS	$	190,596,854	$	440,773,292	$	72,564,118	$	46,001,504	$	692,496,947	$	41,383,716	$	5,454,742

ANALYSIS OF NET ASSETS
Accumulation period	$	190,232,575	$	440,425,588	$	72,564,118	$	46,001,504	$	692,496,947	$	41,383,716	$	5,454,742
Annuity period		364,279		347,704		-		-		-		-		-
Total net assets	$	190,596,854	$	440,773,292	$	72,564,118	$	46,001,504	$	692,496,947	$	41,383,716	$	5,454,742

Fair value per share (NAV)	$	16.36	$	18.87	$	13.73	$	13.15	$	12.60	$	11.08	$	48.05
Shares outstanding in the Separate Account		11,651,735		23,359,689		5,285,088		3,498,216		54,960,075		3,735,006		113,522

⁽¹⁾ Investments in mutual fund shares, at cost	$	171,408,901	$	423,383,762	$	77,380,514	$	39,289,776	$	669,580,202	$	41,190,042	$	5,120,656

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Janus Henderson Global Sustainable Equity Fund		Janus Henderson Overseas Fund, Class S		Janus Henderson Forty Fund, Class S		Janus Henderson VIT Global Technology and Innovation Portfolio, Service Shares		Lord Abbett Series Fund Growth and Income Portfolio		Lord Abbett Series Fund Mid Cap Stock Portfolio		Lord Abbett Series Fund Bond Debenture Portfolio
ASSETS:
Investments at fair value ⁽¹⁾	$	11,255	$	751,607	$	1,425,857	$	1,174,069	$	55,995,065	$	45,724,961	$	477,158,721
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		-		35		75		67		4,002		39,331		133,367
Receivable from the Company		-		-		-		-		11,125		-		8,714
Total assets		11,255		751,642		1,425,932		1,174,136		56,010,192		45,764,292		477,300,802

LIABILITIES:
Payable to the Contracts		-		35		75		67		4,002		39,331		133,367
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		-		6		32		32		-		2,393		-
Total liabilities		-		41		107		99		4,002		41,724		133,367

NET ASSETS	$	11,255	$	751,601	$	1,425,825	$	1,174,037	$	56,006,190	$	45,722,568	$	477,167,435

ANALYSIS OF NET ASSETS
Accumulation period	$	11,255	$	751,601	$	1,425,825	$	1,174,037	$	55,959,342	$	45,685,519	$	477,067,881
Annuity period		-		-		-		-		46,848		37,049		99,554
Total net assets	$	11,255	$	751,601	$	1,425,825	$	1,174,037	$	56,006,190	$	45,722,568	$	477,167,435

Fair value per share (NAV)	$	10.44	$	40.08	$	42.49	$	16.06	$	36.06	$	25.79	$	10.32
Shares outstanding in the Separate Account		1,078		18,753		33,557		73,105		1,552,830		1,772,973		46,236,310

⁽¹⁾ Investments in mutual fund shares, at cost	$	10,348	$	721,950	$	1,238,357	$	999,962	$	35,109,807	$	33,995,977	$	553,554,360

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Lord Abbett Series Fund Growth Opportunities Portfolio		Lord Abbett Series Fund Fundamental Equity Portfolio		Lord Abbett Series Fund Inc. Dividend Growth Portfolio		Lord Abbett Series Fund Short Duration Income Portfolio		ClearBridge Variable Dividend Strategy Portfolio, Class II		ClearBridge Variable Small Cap Growth Portfolio, Class II		ClearBridge Variable Mid Cap Portfolio, Class II
ASSETS:
Investments at fair value ⁽¹⁾	$	54,662,768	$	141,491,484	$	102,642,043	$	5,222,812	$	373,678	$	17,582,630	$	47,333,745
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		634,303		-
Receivable from the fund manager		13,338		32,450		23,649		746		11		-		14,110
Receivable from the Company		-		-		-		-		-		-		-
Total assets		54,676,106		141,523,934		102,665,692		5,223,558		373,689		18,216,933		47,347,855

LIABILITIES:
Payable to the Contracts		13,338		32,450		23,649		746		11		-		14,110
Payable to the fund manager		-		-		-		-		-		634,303		-
Payable to the Company		734		2,982		1,982		12		7		231		361
Total liabilities		14,072		35,432		25,631		758		18		634,534		14,471

NET ASSETS	$	54,662,034	$	141,488,502	$	102,640,061	$	5,222,800	$	373,671	$	17,582,399	$	47,333,384

ANALYSIS OF NET ASSETS
Accumulation period	$	54,655,976	$	141,446,902	$	102,618,015	$	5,222,800	$	373,671	$	17,582,399	$	47,333,384
Annuity period		6,058		41,600		22,046		-		-		-		-
Total net assets	$	54,662,034	$	141,488,502	$	102,640,061	$	5,222,800	$	373,671	$	17,582,399	$	47,333,384

Fair value per share (NAV)	$	8.92	$	16.79	$	16.21	$	13.03	$	20.55	$	25.29	$	22.57
Shares outstanding in the Separate Account		6,128,113		8,427,128		6,332,020		400,830		18,184		695,240		2,097,197

⁽¹⁾ Investments in mutual fund shares, at cost	$	64,733,717	$	140,331,734	$	95,749,736	$	5,380,122	$	406,886	$	16,417,515	$	38,061,158

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Western Asset Core Plus VIT Portfolio, Class II		MFS Growth Series, Initial Class		MFS Research Series, Initial Class		MFS Investors Trust Series, Initial Class		MFS Total Return Series, Initial Class		MFS Utilities Series, Initial Class		MFS New Discovery Series, Initial Class
ASSETS:
Investments at fair value ⁽¹⁾	$	4,060,374	$	5,732,624	$	4,946,365	$	4,993,828	$	14,272,248	$	1,684,113	$	1,974,246
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		142		220		3,350		195		481		59		78
Receivable from the Company		-		-		-		-		-		-		-
Total assets		4,060,516		5,732,844		4,949,715		4,994,023		14,272,729		1,684,172		1,974,324

LIABILITIES:
Payable to the Contracts		142		220		3,350		195		481		59		78
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		50		96		435		950		11,120		59		467
Total liabilities		192		316		3,785		1,145		11,601		118		545

NET ASSETS	$	4,060,324	$	5,732,528	$	4,945,930	$	4,992,878	$	14,261,128	$	1,684,054	$	1,973,779

ANALYSIS OF NET ASSETS
Accumulation period	$	4,060,324	$	5,732,528	$	4,940,384	$	4,979,694	$	14,102,605	$	1,684,054	$	1,967,667
Annuity period		-		-		5,546		13,184		158,523		-		6,112
Total net assets	$	4,060,324	$	5,732,528	$	4,945,930	$	4,992,878	$	14,261,128	$	1,684,054	$	1,973,779

Fair value per share (NAV)	$	4.96	$	60.29	$	31.97	$	35.99	$	23.26	$	32.25	$	12.94
Shares outstanding in the Separate Account		818,624		95,084		154,719		138,756		613,596		52,221		152,569

⁽¹⁾ Investments in mutual fund shares, at cost	$	4,578,991	$	2,498,186	$	2,954,973	$	2,610,503	$	11,119,982	$	1,236,978	$	2,265,876

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	MFS Massachusetts Investors Growth Stock Portfolio, Initial Class		MFS Emerging Markets Equity Portfolio, Service Class		MFS International Intrinsic Value Portfolio, Service Class		MFS Core Equity Portfolio, Service Class		MFS International Growth Portfolio, Service Class		MFS Massachusetts Investors Growth Stock Portfolio, Service Class		MFS Growth Series, Service Class
ASSETS:
Investments at fair value ⁽¹⁾	$	1,699,177	$	227,273	$	16,446,276	$	233,135	$	328,768	$	30,206,779	$	40,793,653
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		77		6		484		4		6		10,285		13,121
Receivable from the Company		-		-		-		-		-		-		-
Total assets		1,699,254		227,279		16,446,760		233,139		328,774		30,217,064		40,806,774

LIABILITIES:
Payable to the Contracts		77		6		484		4		6		10,285		13,121
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		60		2		-		-		1		1,558		224
Total liabilities		137		8		484		4		7		11,843		13,345

NET ASSETS	$	1,699,117	$	227,271	$	16,446,276	$	233,135	$	328,767	$	30,205,221	$	40,793,429

ANALYSIS OF NET ASSETS
Accumulation period	$	1,699,117	$	227,271	$	16,446,276	$	233,135	$	328,767	$	30,185,504	$	40,793,429
Annuity period		-		-		-		-		-		19,717		-
Total net assets	$	1,699,117	$	227,271	$	16,446,276	$	233,135	$	328,767	$	30,205,221	$	40,793,429

Fair value per share (NAV)	$	22.63	$	12.24	$	28.83	$	27.15	$	14.43	$	22.10	$	55.68
Shares outstanding in the Separate Account		75,085		18,569		570,457		8,587		22,784		1,366,823		732,645

⁽¹⁾Investments in mutual fund shares, at cost	$	1,396,030	$	263,744	$	9,375,466	$	227,058	$	318,926	$	24,300,781	$	19,990,077

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	MFS Research Series, Service Class		MFS Investors Trust Series, Service Class		MFS Total Return Series, Service Class		MFS Utilities Series, Service Class		MFS Total Return Bond Series, Service Class		MFS New Discovery Series, Service Class		MFS Mid Cap Growth Series, Service Class
ASSETS:
Investments at fair value ⁽¹⁾	$	3,230,572	$	41,071,758	$	39,423,008	$	17,690,344	$	292,815,208	$	45,900,885	$	25,762
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		140		2,301		49,566		49,488		54,418		9,177		1
Receivable from the Company		-		-		-		-		-		-		-
Total assets		3,230,712		41,074,059		39,472,574		17,739,832		292,869,626		45,910,062		25,763

LIABILITIES:
Payable to the Contracts		140		2,301		49,566		49,488		54,418		9,177		1
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		78		255		1,742		623		389		1,142		-
Total liabilities		218		2,556		51,308		50,111		54,807		10,319		1

NET ASSETS	$	3,230,494	$	41,071,503	$	39,421,266	$	17,689,721	$	292,814,819	$	45,899,743	$	25,762

ANALYSIS OF NET ASSETS
Accumulation period	$	3,230,494	$	41,071,503	$	39,400,712	$	17,684,358	$	292,811,748	$	45,884,826	$	25,762
Annuity period		-		-		20,554		5,363		3,071		14,917		-
Total net assets	$	3,230,494	$	41,071,503	$	39,421,266	$	17,689,721	$	292,814,819	$	45,899,743	$	25,762

Fair value per share (NAV)	$	31.32	$	35.28	$	22.68	$	31.54	$	11.47	$	10.10	$	7.42
Shares outstanding in the Separate Account		103,147		1,164,165		1,738,228		560,886		25,528,789		4,544,642		3,472

⁽¹⁾Investments in mutual fund shares, at cost	$	1,946,419	$	22,800,485	$	32,332,963	$	13,371,636	$	327,583,647	$	63,179,645	$	24,939

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	MFS Value Series, Service Class		MFS Global Real Estate Portfolio, Service Class		MFS Mid Cap Value Portfolio, Service Class		Morgan Stanley VIF Global Strategist Portfolio		Morgan Stanley VIF Global Real Estate Portfolio, Class II		Invesco V.I. Global Strategic Income Fund		Invesco V.I. Global Strategic Income Fund, Series II
ASSETS:
Investments at fair value ⁽¹⁾	$	142,789,652	$	141,583	$	15,823	$	198,246	$	5,087,120	$	5,147,444	$	208,302,926
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		24,452		5		1		17		837		192		123,469
Receivable from the Company		-		-		-		-		-		-		-
Total assets		142,814,104		141,588		15,824		198,263		5,087,957		5,147,636		208,426,395

LIABILITIES:
Payable to the Contracts		24,452		5		1		17		837		192		123,469
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		1,693		1		-		3		150		329		1,340
Total liabilities		26,145		6		1		20		987		521		124,809

NET ASSETS	$	142,787,959	$	141,582	$	15,823	$	198,243	$	5,086,970	$	5,147,115	$	208,301,586

ANALYSIS OF NET ASSETS
Accumulation period	$	142,766,266	$	141,582	$	15,823	$	198,243	$	5,086,970	$	5,143,254	$	208,284,382
Annuity period		21,693		-		-		-		-		3,861		17,204
Total net assets	$	142,787,959	$	141,582	$	15,823	$	198,243	$	5,086,970	$	5,147,115	$	208,301,586

Fair value per share (NAV)	$	20.71	$	15.93	$	9.68	$	8.49	$	7.54	$	4.29	$	4.42
Shares outstanding in the Separate Account		6,894,720		8,888		1,635		23,351		674,684		1,199,870		47,127,359

⁽¹⁾ Investments in mutual fund shares, at cost	$	87,485,596	$	127,310	$	14,989	$	184,091	$	5,159,525	$	5,870,629	$	260,568,026

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Global Fund, Series I		Invesco V.I. Global Fund, Series II		Invesco V.I. Capital Appreciation Fund, Series I		Invesco V.I. Capital Appreciation Fund, Series II		Invesco V.I. Discovery Mid Cap Growth Fund, Series II		Invesco V.I. Discovery Mid Cap Growth Fund, Series I		Invesco V.I. Main Street Fund, Series II
ASSETS:
Investments at fair value ⁽¹⁾	$	7,388,737	$	240,769,238	$	7,566,169	$	53,150,989	$	29,372,497	$	3,225,814	$	98,008,955
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		2,081		51,630		3,229		21,328		16,195		123		19,032
Receivable from the Company		-		-		-		-		-		-		-
Total assets		7,390,818		240,820,868		7,569,398		53,172,317		29,388,692		3,225,937		98,027,987

LIABILITIES:
Payable to the Contracts		2,081		51,630		3,229		21,328		16,195		123		19,032
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		18,988		6,548		119		895		1,224		57		182
Total liabilities		21,069		58,178		3,348		22,223		17,419		180		19,214

NET ASSETS	$	7,369,749	$	240,762,690	$	7,566,050	$	53,150,094	$	29,371,273	$	3,225,757	$	98,008,773

ANALYSIS OF NET ASSETS
Accumulation period	$	7,097,714	$	240,668,502	$	7,566,050	$	53,141,508	$	29,358,519	$	3,225,757	$	98,008,773
Annuity period		272,035		94,188		-		8,587		12,754		-		-
Total net assets	$	7,369,749	$	240,762,690	$	7,566,050	$	53,150,094	$	29,371,273	$	3,225,757	$	98,008,773

Fair value per share (NAV)	$	36.56	$	35.50	$	47.07	$	44.64	$	54.01	$	62.81	$	17.77
Shares outstanding in the Separate Account		202,099		6,782,232		160,743		1,190,658		543,834		51,358		5,515,417

⁽¹⁾Investments in mutual fund shares, at cost	$	5,658,239	$	211,032,620	$	6,277,604	$	45,335,941	$	33,561,474	$	2,941,031	$	124,303,304

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Main Street Fund, Series I		Invesco V.I. U.S. Government Money Portfolio, Series I		PIMCO Commodity RealReturn Strategy Portfolio, Advisor Class		PIMCO Total Return Portfolio, Advisor Class		PIMCO Real Return Portfolio, Advisor Class		PIMCO All Asset Portfolio		PIMCO High Yield Portfolio, Advisor Class
ASSETS:
Investments at fair value ⁽¹⁾	$	6,696,396	$	258,896,538	$	5,200	$	589,673,174	$	216,882,067	$	5,005,241	$	419,422
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		231		1,149,976		-		118,554		32,018		303		34
Receivable from the Company		-		151		-		-		-		-		-
Total assets		6,696,627		260,046,665		5,200		589,791,728		216,914,085		5,005,544		419,456

LIABILITIES:
Payable to the Contracts		231		1,149,976		-		118,554		32,018		302		34
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		973		-		-		4,767		4,819		20		5
Total liabilities		1,204		1,149,976		-		123,321		36,837		322		39

NET ASSETS	$	6,695,423	$	258,896,689	$	5,200	$	589,668,407	$	216,877,248	$	5,005,222	$	419,417

ANALYSIS OF NET ASSETS
Accumulation period	$	6,682,512	$	258,896,689	$	5,200	$	589,597,892	$	216,808,746	$	5,005,222	$	419,417
Annuity period		12,911		-		-		70,515		68,502		-		-
Total net assets	$	6,695,423	$	258,896,689	$	5,200	$	589,668,407	$	216,877,248	$	5,005,222	$	419,417

Fair value per share (NAV)	$	18.22	$	1.00	$	5.46	$	9.18	$	11.57	$	9.20	$	7.18
Shares outstanding in the Separate Account		367,530		258,896,538		952		64,234,551		18,745,209		544,048		58,415

⁽¹⁾ Investments in mutual fund shares, at cost	$	7,083,793	$	258,896,538	$	6,725	$	718,241,582	$	257,064,162	$	5,264,017	$	413,445

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	PIMCO Low Duration Portfolio, Advisor Class		PIMCO Short-Term Portfolio, Advisor Class		PIMCO Long-Term U.S. Government Portfolio, Advisor Class		PIMCO Global Diversified Allocation Portfolio		PIMCO Income Portfolio		Royce Capital Fund Small Cap Portfolio, Service Class		Royce Capital Fund Micro Cap Portfolio, Service Class
ASSETS:
Investments at fair value ⁽¹⁾	$	118,346,548	$	74,503,972	$	19,528,838	$	5,254,549	$	920,133	$	141,299,381	$	14,461,875
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		110,527		-		-		-		-		-
Receivable from the fund manager		15,298		-		1,048		596		26		33,125		1,494
Receivable from the Company		-		-		-		-		-		-		-
Total assets		118,361,846		74,614,499		19,529,886		5,255,145		920,159		141,332,506		14,463,369

LIABILITIES:
Payable to the Contracts		15,298		-		1,048		596		26		33,125		1,494
Payable to the fund manager		-		110,527		-		-		-		-		-
Payable to the Company		241		143		217		106		9		2,536		201
Total liabilities		15,539		110,670		1,265		702		35		35,661		1,695

NET ASSETS	$	118,346,307	$	74,503,829	$	19,528,621	$	5,254,443	$	920,124	$	141,296,845	$	14,461,674

ANALYSIS OF NET ASSETS
Accumulation period	$	118,346,307	$	74,503,829	$	19,528,621	$	5,254,443	$	920,124	$	141,261,107	$	14,461,674
Annuity period		-		-		-		-		-		35,738		-
Total net assets	$	118,346,307	$	74,503,829	$	19,528,621	$	5,254,443	$	920,124	$	141,296,845	$	14,461,674

Fair value per share (NAV)	$	9.60	$	10.23	$	7.95	$	6.15	$	9.95	$	9.37	$	8.88
Shares outstanding in the Separate Account		12,327,766		7,282,891		2,456,458		854,398		92,476		15,079,977		1,628,590


⁽¹⁾Investments in mutual fund shares, at cost	$	127,875,414	$	74,406,764	$	30,964,414	$	7,561,827	$	948,988	$	142,062,110	$	15,165,319

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	T. Rowe Price All-Cap Opportunities Portfolio		T. Rowe Price Moderate Allocation Portfolio		T. Rowe Price Mid-Cap Growth Portfolio, Class II		T. Rowe Price Blue Chip Growth Portfolio, Class II		T. Rowe Price Health Sciences Portfolio, Class II		Vanguard VIF Money Market Portfolio		Vanguard VIF Balanced Portfolio
ASSETS:
Investments at fair value ⁽¹⁾	$	1,345,795	$	8,170,550	$	257,140	$	27,837,821	$	7,592,690	$	1,650,098	$	1,017,611
Receivable from dividends		-		-		-		-		-		238		-
Receivable from the Contracts		-		-		-		-		46,175		-		-
Receivable from the fund manager		77		641		6		100,851		-		14		8
Receivable from the Company		-		-		-		-		-		-		-
Total assets		1,345,872		8,171,191		257,146		27,938,672		7,638,865		1,650,350		1,017,619

LIABILITIES:
Payable to the Contracts		77		641		6		100,851		-		14		8
Payable to the fund manager		-		-		-		-		46,175		-		-
Payable to the Company		17		4		2		26		77		1		5
Total liabilities		94		645		8		100,877		46,252		15		13

NET ASSETS	$	1,345,778	$	8,170,546	$	257,138	$	27,837,795	$	7,592,613	$	1,650,335	$	1,017,606

ANALYSIS OF NET ASSETS
Accumulation period	$	1,345,778	$	8,170,546	$	257,138	$	27,837,795	$	7,592,613	$	1,650,335	$	1,017,606
Annuity period		-		-		-		-		-		-		-
Total net assets	$	1,345,778	$	8,170,546	$	257,138	$	27,837,795	$	7,592,613	$	1,650,335	$	1,017,606

Fair value per share (NAV)	$	34.40	$	20.02	$	27.02	$	43.54	$	51.85	$	1.00	$	23.29
Shares outstanding in the Separate Account		39,122		408,119		9,517		639,362		146,436		1,650,099		43,693


⁽¹⁾Investments in mutual fund shares, at cost	$	1,291,517	$	7,747,677	$	255,168	$	24,745,503	$	7,700,191	$	1,650,098	$	1,094,577

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Vanguard VIF Equity Index Portfolio		Vanguard VIF Equity Income Portfolio		Vanguard VIF Growth Portfolio		Vanguard VIF International Portfolio		Vanguard VIF Total Bond Market Index Portfolio		Vanguard VIF High Yield Bond Portfolio		Vanguard VIF Short-Term Investment-Grade Portfolio
ASSETS:
Investments at fair value ⁽¹⁾	$	2,210,023	$	779,040	$	1,569,893	$	943,049	$	2,651,386	$	204,546	$	2,330,823
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		18		6		13		8		16		2		19
Receivable from the Company		-		-		-		-		-		-		-
Total assets		2,210,041		779,046		1,569,906		943,057		2,651,402		204,548		2,330,842

LIABILITIES:
Payable to the Contracts		18		6		13		8		16		2		19
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		14		4		12		7		6		1		4
Total liabilities		32		10		25		15		22		3		23

NET ASSETS	$	2,210,009	$	779,036	$	1,569,881	$	943,042	$	2,651,380	$	204,545	$	2,330,819

ANALYSIS OF NET ASSETS
Accumulation period	$	2,210,009	$	779,036	$	1,569,881	$	943,042	$	2,651,380	$	204,545	$	2,330,819
Annuity period		-		-		-		-		-		-		-
Total net assets	$	2,210,009	$	779,036	$	1,569,881	$	943,042	$	2,651,380	$	204,545	$	2,330,819

Fair value per share (NAV)	$	60.89	$	23.91	$	25.34	$	24.57	$	10.63	$	7.37	$	10.31
Shares outstanding in the Separate Account		36,295		32,582		61,953		38,382		249,425		27,754		226,074

⁽¹⁾Investments in mutual fund shares, at cost	$	2,009,577	$	791,787	$	1,701,277	$	1,182,228	$	2,790,683	$	214,583	$	2,362,823

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Vanguard VIF Capital Growth Portfolio		Vanguard VIF Diversified Value Portfolio		Vanguard VIF Total Stock Market Index Portfolio		Vanguard VIF Mid-Cap Index Portfolio		Vanguard VIF Real Estate Index Portfolio		Vanguard VIF Conservative Allocation Portfolio		Vanguard VIF Moderate Allocation Portfolio
ASSETS:
Investments at fair value ⁽¹⁾	$	256,401	$	348,657	$	2,836,256	$	1,191,655	$	514,681	$	1,493,288	$	763,485
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Contracts		-		-		-		-		-		-		-
Receivable from the fund manager		2		3		23		10		4		12		6
Receivable from the Company		-		-		-		-		-		-		-
Total assets		256,403		348,660		2,836,279		1,191,665		514,685		1,493,300		763,491

LIABILITIES:
Payable to the Contracts		2		3		23		10		4		12		6
Payable to the fund manager		-		-		-		-		-		-		-
Payable to the Company		1		2		18		9		6		6		3
Total liabilities		3		5		41		19		10		18		9

NET ASSETS	$	256,400	$	348,655	$	2,836,238	$	1,191,646	$	514,675	$	1,493,282	$	763,482

ANALYSIS OF NET ASSETS
Accumulation period	$	256,400	$	348,655	$	2,836,238	$	1,191,646	$	514,675	$	1,493,282	$	763,482
Annuity period		-		-		-		-		-		-		-
Total net assets	$	256,400	$	348,655	$	2,836,238	$	1,191,646	$	514,675	$	1,493,282	$	763,482

Fair value per share (NAV)	$	46.38	$	15.63	$	49.45	$	23.93	$	11.92	$	24.44	$	29.11
Shares outstanding in the Separate Account		5,528		22,307		57,356		49,798		43,178		61,100		26,228

⁽¹⁾ Investments in mutual fund shares, at cost	$	264,762	$	313,330	$	2,701,993	$	1,272,520	$	563,777	$	1,512,989	$	843,860

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2023

	SUBACCOUNTS
	Vanguard VIF Total International Stock Market Index Portfolio		Vanguard VIF Global Bond Index Portfolio		VanEck VIP Global Resources Fund, Class I
ASSETS:
Investments at fair value ⁽¹⁾	$	1,432,285	$	272,065	$	203,704
Receivable from dividends		-		-		-
Receivable from the Contracts		-		-		-
Receivable from the fund manager		12		2		10
Receivable from the Company		-		-		-
Total assets		1,432,297		272,067		203,714

LIABILITIES:
Payable to the Contracts		12		2		10
Payable to the fund manager		-		-		-
Payable to the Company		7		1		-
Total liabilities		19		3		10

NET ASSETS	$	1,432,278	$	272,064	$	203,704

ANALYSIS OF NET ASSETS
Accumulation period	$	1,432,278	$	272,064	$	203,704
Annuity period		-		-		-
Total net assets	$	1,432,278	$	272,064	$	203,704

Fair value per share (NAV)	$	21.09	$	18.60	$	26.59
Shares outstanding in the Separate Account		67,913		14,627		7,661

⁽¹⁾Investments in mutual fund shares, at cost	$	1,408,585	$	283,970	$	133,052

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Concluded)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	AB VPS Relative Value Portfolio, Class B			AB VPS Large Cap Growth Portfolio, Class B			AB VPS Small Cap Growth Portfolio, Class B			AB VPS Discovery Value Portfolio, Class B			American Century Investments VP Balanced Fund, Class I			American Century Investments VP International Fund, Class I			American Century Investments VP Ultra Fund, Class I
INVESTMENT INCOME:
Dividend income	$	21,410		$	-		$	-		$	8,555		$	814		$	-		$	-

EXPENSES:
Mortality and expense risk and admin		12,315			128,477			3,442			7,049			400			138			729

NET INVESTMENT INCOME (LOSS)		9,095			(128,477	)		(3,442	)		1,506			414			(138	)		(729	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(56,946	)		19,519			(738	)		(61,282	)		(9	)		4			(5	)
Capital gain distributions		135,238			1,228,802			-			89,945			-			-			-

Net realized gain (loss) on investments		78,292			1,248,321			(738	)		28,663			(9	)		4			(5	)

Change in net unrealized appreciation (depreciation) on investments		62,369			3,456,703			63,028			61,976			5,505			9,251			16,437

Net realized and unrealized gain (loss) on investments		140,661			4,705,024			62,290			90,639			5,496			9,255			16,432

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	149,756		$	4,576,547		$	58,848		$	92,145		$	5,910		$	9,117		$	15,703

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Growth-Income Fund, Class 2		American Funds IS Growth Fund, Class 2			American Funds IS American High-Income Trust, Class 2		American Funds IS U.S. Government Securities Fund, Class 2			American Funds IS International Growth and Income Fund, Class 2		American Funds IS Asset Allocation Fund, Class 2			American Funds IS International Fund, Class 2
INVESTMENT INCOME:
Dividend income	$	251,608	$	219,772		$	47,663	$	136,607		$	24,973	$	1,896,247		$	121,746

EXPENSES:
Mortality and expense risk and admin		139,341		477,949			4,956		27,809			7,612		763,734			76,485

NET INVESTMENT INCOME (LOSS)		112,267		(258,177	)		42,707		108,798			17,361		1,132,513			45,261

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		31,241		99,651			84		(2,786	)		2,222		(43,137	)		2,929
Capital gain distributions		970,269		3,498,194			-		-			-		3,343,026			-

Net realized gain (loss) on investments		1,001,510		3,597,845			84		(2,786	)		2,222		3,299,889			2,929

Change in net unrealized appreciation (depreciation) on investments		2,994,383		15,727,689			29,207		(40,004	)		117,913		6,048,479			1,274,098

Net realized and unrealized gain (loss) on investments		3,995,893		19,325,534			29,291		(42,790	)		120,135		9,348,368			1,277,027

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	4,108,160	$	19,067,357		$	71,998	$	66,008		$	137,496	$	10,480,881		$	1,322,288

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Washington Mutual Investors Fund, Class 2		American Funds IS Capital World Growth and Income Fund, Class 2		American Funds IS Global Small Capitalization Fund, Class 2			American Funds IS New World Fund, Class 2			American Funds IS Global Growth Fund, Class 2		American Funds IS The Bond Fund of America, Class 2			American Funds IS Capital World Bond Fund, Class 2
INVESTMENT INCOME:
Dividend income	$	751,001	$	123,334	$	18,732		$	133,867		$	829,045	$	1,370,635		$	-

EXPENSES:
Mortality and expense risk and admin		325,626		51,907		55,675			74,954			798,954		286,406			3,673

NET INVESTMENT INCOME (LOSS)		425,375		71,427		(36,943	)		58,913			30,091		1,084,229			(3,673	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		15,799		35,281		4,956			(25,287	)		152,480		(24,456	)		(2,174	)
Capital gain distributions		379,826		-		92,323			-			7,342,007		-			-

Net realized gain (loss) on investments		395,625		35,281		97,279			(25,287	)		7,494,487		(24,456	)		(2,174	)

Change in net unrealized appreciation (depreciation) on investments		5,312,413		1,083,048		928,782			1,258,479			10,847,873		500,567			26,408

Net realized and unrealized gain (loss) on investments		5,708,038		1,118,329		1,026,061			1,233,192			18,342,360		476,111			24,234

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	6,133,413	$	1,189,756	$	989,118		$	1,292,105		$	18,372,451	$	1,560,340		$	20,561

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Growth-Income Fund, Class 4			American Funds IS Growth Fund, Class 4			American Funds IS American High-Income Trust, Class 4		American Funds IS U.S. Government Securities Fund, Class 4			American Funds IS International Growth and Income Fund, Class 4			American Funds IS Asset Allocation Fund, Class 4			American Funds IS International Fund, Class 4
INVESTMENT INCOME:
Dividend income	$	329,378		$	92,807		$	76,139	$	222,259		$	15,841		$	952,724		$	57,021

EXPENSES:
Mortality and expense risk and admin		212,057			508,602			3,973		48,631			2,576			388,875			20,547

NET INVESTMENT INCOME (LOSS)		117,321			(415,795	)		72,166		173,628			13,265			563,849			36,474

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(126,398	)		(4,162,309	)		186		(301,613	)		(21	)		(1,702,266	)		16,510
Capital gain distributions		1,134,568			2,857,343			-		-			-			1,398,951			-

Net realized gain (loss) on investments		1,008,170			(1,304,966	)		186		(301,613	)		(21	)		(303,315	)		16,510

Change in net unrealized appreciation (depreciation) on investments		4,138,358			18,126,736			27,613		280,531			37,740			5,163,412			338,514

Net realized and unrealized gain (loss) on investments		5,146,528			16,821,770			27,799		(21,082	)		37,719			4,860,097			355,024

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	5,263,849		$	16,405,975		$	99,965	$	152,546		$	50,984		$	5,423,946		$	391,498

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Washington Mutual Investors Fund, Class 4		American Funds IS Capital World Growth and Income Fund, Class 4		American Funds IS Global Small Capitalization Fund, Class 4			American Funds IS New World Fund, Class 4			American Funds IS Global Growth Fund, Class 4			American Funds IS The Bond Fund of America, Class 4			American Funds IS Capital World Bond Fund, Class 4
INVESTMENT INCOME:
Dividend income	$	211,842	$	84,173	$	303		$	8,362		$	244,782		$	1,009,937		$	-

EXPENSES:
Mortality and expense risk and admin		74,468		38,682		8,896			4,007			260,601			176,464			3,646

NET INVESTMENT INCOME (LOSS)		137,374		45,491		(8,593	)		4,355			(15,819	)		833,473			(3,646	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		9,562		10,778		1,697			(194	)		69,962			(4,315	)		(99	)
Capital gain distributions		63,522		-		11,246			-			1,766,263			-			-

Net realized gain (loss) on investments		73,084		10,778		12,943			(194	)		1,836,225			(4,315	)		(99	)

Change in net unrealized appreciation (depreciation) on investments		1,417,032		704,234		137,410			63,838			3,427,611			434,972			76,293

Net realized and unrealized gain (loss) on investments		1,490,116		715,012		150,353			63,644			5,263,836			430,657			76,194

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	1,627,490	$	760,503	$	141,760		$	67,999		$	5,248,017		$	1,264,130		$	72,548

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Capital Income Builder, Class 2		American Funds IS Capital Income Builder, Class 4		BlackRock Global Allocation V.I. Fund, Class III			BlackRock International V.I. Fund, Class I		BlackRock Advantage SMID Cap V.I. Fund, Class III		BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III			Calvert VP SRI Balanced Portfolio
INVESTMENT INCOME:
Dividend income	$	215,334	$	285,204	$	658,659		$	11,395	$	1,665	$	215,791		$	17,980

EXPENSES:
Mortality and expense risk and admin		59,468		89,352		155,403			5,397		43		60,854			15,610

NET INVESTMENT INCOME (LOSS)		155,866		195,852		503,256			5,998		1,622		154,937			2,370

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		8,601		40,091		(924	)		469		-		(6,354	)		4,345
Capital gain distributions		-		-		-			-		-		-			4,307

Net realized gain (loss) on investments		8,601		40,091		(924	)		469		-		(6,354	)		8,652

Change in net unrealized appreciation (depreciation) on investments		411,649		664,804		1,763,311			125,760		5,022		854,651			149,063

Net realized and unrealized gain (loss) on investments		420,250		704,895		1,762,387			126,229		5,022		848,297			157,715

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	576,116	$	900,747	$	2,265,643		$	132,227	$	6,644	$	1,003,234		$	160,085

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	ClearBridge Variable Large Cap Growth Portfolio, Class II			Columbia VP Emerging Markets Bond Fund, Class 2		Columbia VP Strategic Income Fund, Class 2		Columbia VP Intermediate Bond Fund, Class 2		Columbia VP Limited Duration Credit Fund, Class 2			Columbia VP Select Mid Cap Value Fund, Class 2			Columbia VP Seligman Global Technology Fund, Class 2
INVESTMENT INCOME:
Dividend income	$	-		$	15,825	$	360,028	$	35,067	$	19,626		$	-		$	-

EXPENSES:
Mortality and expense risk and admin		3,497			1,756		82,496		16,651		4,034			6,828			281

NET INVESTMENT INCOME (LOSS)		(3,497	)		14,069		277,532		18,416		15,592			(6,828	)		(281	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		288			21		2,524		12		(2,141	)		(10,679	)		13
Capital gain distributions		4,588			-		-		-		-			-			-

Net realized gain (loss) on investments		4,876			21		2,524		12		(2,141	)		(10,679	)		13

Change in net unrealized appreciation (depreciation) on investments		106,971			19,463		648,024		61,535		16,545			99,970			23,959

Net realized and unrealized gain (loss) on investments		111,847			19,484		650,548		61,547		14,404			89,291			23,972

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	108,350		$	33,553	$	928,080	$	79,963	$	29,996		$	82,463		$	23,691

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Columbia VP Balanced Fund, Class 2			Dimensional VA Short-Term Fixed Portfolio			Dimensional VA Global Bond Portfolio		Dimensional VA US Large Value Portfolio		Dimensional VA US Targeted Value Portfolio		Dimensional VA International Value Portfolio			Dimensional VA International Small Portfolio
INVESTMENT INCOME:
Dividend income	$	-		$	83,856		$	53,887	$	75,479	$	29,151	$	65,977		$	32,185

EXPENSES:
Mortality and expense risk and admin		33,403			4,935			3,327		8,750		4,646		3,617			2,672

NET INVESTMENT INCOME (LOSS)		(33,403	)		78,921			50,560		66,729		24,505		62,360			29,513

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		13,214			235			290		2,707		3,429		(500	)		(510	)
Capital gain distributions		-			-			-		46,002		129,716		13,167			-

Net realized gain (loss) on investments		13,214			235			290		48,709		133,145		12,667			(510	)

Change in net unrealized appreciation (depreciation) on investments		689,345			(2,019	)		1,080		203,843		164,645		120,880			87,788

Net realized and unrealized gain (loss) on investments		702,559			(1,784	)		1,370		252,552		297,790		133,547			87,278

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	669,156		$	77,137		$	51,930	$	319,281	$	322,295	$	195,907		$	116,791

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Dimensional VA Global Moderate Allocation Portfolio, Institutional		Dimensional VA Equity Allocation Portfolio, Institutional			Fidelity VIP Equity-Income Portfolio, Service Class 2		Fidelity VIP Growth Portfolio, Service Class 2			Fidelity VIP High Income Portfolio, Service Class 2			Fidelity VIP Asset Manager Portfolio, Service Class 2		Fidelity VIP Asset Manager Growth Portfolio, Service Class 2
INVESTMENT INCOME:
Dividend income	$	14,345	$	6,534		$	87,046	$	99		$	1,700		$	12,901	$	132,100

EXPENSES:
Mortality and expense risk and admin		1,534		679			53,640		27,721			124			3,376		18,403

NET INVESTMENT INCOME (LOSS)		12,811		5,855			33,406		(27,622	)		1,576			9,525		113,697

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		3,324		(5,170	)		44,020		67,891			(1	)		158		96
Capital gain distributions		5,838		6,516			149,369		124,839			-			1,449		-

Net realized gain (loss) on investments		9,162		1,346			193,389		192,730			(1	)		1,607		96

Change in net unrealized appreciation (depreciation) on investments		50,985		23,624			222,688		601,395			(200	)		30,764		418,803

Net realized and unrealized gain (loss) on investments		60,147		24,970			416,077		794,125			(201	)		32,371		418,899

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	72,958	$	30,825		$	449,483	$	766,503		$	1,375		$	41,896	$	532,596

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Contrafund Portfolio, Service Class 2			Fidelity VIP Index 500 Portfolio, Service Class 2		Fidelity VIP Investment Grade Bond Portfolio, Service Class 2			Fidelity VIP Balanced Portfolio, Service Class 2		Fidelity VIP Growth & Income Portfolio, Service Class 2		Fidelity VIP Mid Cap Portfolio, Service Class 2			Fidelity VIP Utilities Portfolio, Initial Class
INVESTMENT INCOME:
Dividend income	$	641,796		$	6,868,089	$	6,213,331		$	520,841	$	370	$	787,180		$	4,647

EXPENSES:
Mortality and expense risk and admin		2,493,319			5,509,868		2,459,340			249,790		147		1,951,667			869

NET INVESTMENT INCOME (LOSS)		(1,851,523	)		1,358,221		3,753,991			271,051		223		(1,164,487	)		3,778

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		4,035,173			6,639,510		(3,448,898	)		13,386		9		(9,376,218	)		1,404
Capital gain distributions		8,520,484			3,997,230		-			728,261		891		5,905,095			1,811

Net realized gain (loss) on investments		12,555,657			10,636,740		(3,448,898	)		741,647		900		(3,471,123	)		3,215

Change in net unrealized appreciation (depreciation) on investments		51,827,917			89,857,702		11,801,172			4,137,726		1,448		18,278,441			(204	)

Net realized and unrealized gain (loss) on investments		64,383,574			100,494,442		8,352,274			4,879,373		2,348		14,807,318			3,011

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	62,532,051		$	101,852,663	$	12,106,265		$	5,150,424	$	2,571	$	13,642,831		$	6,789

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Technology Portfolio, Initial Class			Fidelity VIP Health Care Portfolio, Service Class 2			Fidelity VIP Value Strategies Portfolio, Service Class 2		Fidelity VIP Strategic Income Portfolio, Service Class 2		Fidelity VIP International Capital Appreciation Portfolio, Service Class 2		Fidelity VIP Freedom Funds 2015 Portfolio, Service Class 2			Fidelity VIP Freedom Funds 2020 Portfolio, Service Class 2

INVESTMENT INCOME:
Dividend income	$	6,510		$	-		$	9,129	$	1,068	$	650	$	26,137		$	67,945

EXPENSES:
Mortality and expense risk and admin		16,645			13,507			5,853		59		514		9,132			19,406

NET INVESTMENT INCOME (LOSS)		(10,135	)		(13,507	)		3,276		1,009		136		17,005			48,539

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		1,175			287			2,277		-		11		(72,649	)		(13,455	)
Capital gain distributions		24,927			-			37,448		-		-		18,822			16,182

Net realized gain (loss) on investments		26,102			287			39,725		-		11		(53,827	)		2,727

Change in net unrealized appreciation (depreciation) on investments		793,853			60,770			118,544		355		47,834		98,030			190,781

Net realized and unrealized gain (loss) on investments		819,955			61,057			158,269		355		47,845		44,203			193,508

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	809,820		$	47,550		$	161,545	$	1,364	$	47,981	$	61,208		$	242,047

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT
STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Energy Portfolio, Service Class 2			Fidelity VIP FundsManager 20% Portfolio, Service Class 2		Fidelity VIP FundsManager 85% Portfolio, Service Class 2		Fidelity VIP FundsManager 60% Portfolio, Service Class 2		Fidelity VIP Target Volatility Portfolio, Service Class 2			Fidelity VIP Extended Market Index Portfolio, Service Class 2		Fidelity VIP International Index Portfolio, Service Class 2

INVESTMENT INCOME:
Dividend income	$	37,801		$	44,738	$	10,403	$	18,631	$	7,485		$	2,553	$	32,610

EXPENSES:
Mortality and expense risk and admin		15,160			13,182		6,523		2,301		2,551			809		5,529

NET INVESTMENT INCOME (LOSS)		22,641			31,556		3,880		16,330		4,934			1,744		27,081

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		4,553			480		312		133		(2,628	)		1,236		497
Capital gain distributions		-			-		-		-		-			-		-

Net realized gain (loss) on investments		4,553			480		312		133		(2,628	)		1,236		497

Change in net unrealized appreciation (depreciation) on investments		(84,917	)		43,916		95,029		30,578		22,719			17,694		85,010

Net realized and unrealized gain (loss) on investments		(80,364	)		44,396		95,341		30,711		20,091			18,930		85,507

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(57,723	)	$	75,952	$	99,221	$	47,041	$	25,025		$	20,674	$	112,588

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT
STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Total Market Index Portfolio		Fidelity VIP Bond Index Portfolio		Templeton Developing Markets VIP Fund, Class 2			Templeton Foreign VIP Fund, Class 2			Franklin Small-Mid Cap Growth VIP Fund, Class 2			Franklin DynaTech VIP Fund			Templeton Growth VIP Fund, Class 2

INVESTMENT INCOME:
Dividend income	$	22,235	$	65,130	$	200,459		$	2,201,639		$	-		$	-		$	2,695,661

EXPENSES:
Mortality and expense risk and admin		15,281		12,191		87,762			705,665			322,614			411,887			848,292

NET INVESTMENT INCOME (LOSS)		6,954		52,939		112,697			1,495,974			(322,614	)		(411,887	)		1,847,369

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		952		70		(617,413	)		(368,966	)		(68,250	)		585,074			(817,570	)
Capital gain distributions		-		-		7,272			-			-			-			-

Net realized gain (loss) on investments		952		70		(610,141	)		(368,966	)		(68,250	)		585,074			(817,570	)

Change in net unrealized appreciation (depreciation) on investments		469,550		82,047		421,490			10,722,309			5,959,245			13,576,654			12,712,852

Net realized and unrealized gain (loss) on investments		470,502		82,117		(188,651	)		10,353,343			5,890,995			14,161,728			11,895,282

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	477,456	$	135,056	$	(75,954	)	$	11,849,317		$	5,568,381		$	13,749,841		$	13,742,651

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Templeton Global Bond VIP Fund, Class 2			Franklin Mutual Shares VIP Fund, Class 2			Franklin Mutual Global Discovery VIP Fund, Class 2		Franklin Income VIP Fund, Class 2			Franklin Rising Dividends VIP Fund, Class 2			Franklin Small Cap Value VIP Fund, Class 2			Franklin Strategic Income VIP Fund, Class 2

INVESTMENT INCOME:
Dividend income	$	-		$	8,307,554		$	79,167	$	7,237,077		$	2,645,300		$	182,574		$	276,307

EXPENSES:
Mortality and expense risk and admin		2,023,979			4,349,381			29,302		1,370,732			2,829,182			391,445			57,185

NET INVESTMENT INCOME (LOSS)		(2,023,979	)		3,958,173			49,865		5,866,345			(183,882	)		(208,871	)		219,122

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(10,840,985	)		(18,993,713	)		49,541		(6,517,195	)		(10,309,345	)		(1,130,966	)		(68,365	)
Capital gain distributions		-			38,237,244			172,287		8,773,653			30,359,521			1,979,291			-

Net realized gain (loss) on investments		(10,840,985	)		19,243,531			221,828		2,256,458			20,050,176			848,325			(68,365	)

Change in net unrealized appreciation (depreciation) on investments		15,807,962			9,851,487			317,928		(1,736,055	)		4,201,674			2,406,139			233,509

Net realized and unrealized gain (loss) on investments		4,966,977			29,095,018			539,756		520,403			24,251,850			3,254,464			165,144

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	2,942,998		$	33,053,191		$	589,621	$	6,386,748		$	24,067,968		$	3,045,593		$	384,266

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Franklin U.S. Government Securities VIP Fund, Class 2			Goldman Sachs VIT Large Cap Value Fund, Institutional Shares			Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Shares			Goldman Sachs VIT Small Cap Equity Insights Fund, Institutional Shares			Goldman Sachs VIT Strategic Growth Fund, Institutional Shares			Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares			Goldman Sachs VIT International Equity Insights Fund, Institutional Shares

INVESTMENT INCOME:
Dividend income	$	8,605,084		$	533,825		$	152,023		$	169,977		$	-		$	55,317		$	460,010

EXPENSES:
Mortality and expense risk and admin		3,285,770			350,570			298,845			207,086			320,516			51,184			181,524

NET INVESTMENT INCOME (LOSS)		5,319,314			183,255			(146,822	)		(37,109	)		(320,516	)		4,133			278,486

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(7,255,912	)		(97,255	)		123,552			(323,545	)		421,153			(18,368	)		(1,043,574	)
Capital gain distributions		-			2,695,292			-			-			1,144,878			136,244			-

Net realized gain (loss) on investments		(7,255,912	)		2,598,037			123,552			(323,545	)		1,566,031			117,876			(1,043,574	)

Change in net unrealized appreciation (depreciation) on investments		12,389,150			651,838			4,595,767			3,206,324			8,016,447			422,406			3,590,456

Net realized and unrealized gain (loss) on investments		5,133,238			3,249,875			4,719,319			2,882,779			9,582,478			540,282			2,546,882

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	10,452,552		$	3,433,130		$	4,572,497		$	2,845,670		$	9,261,962		$	544,415		$	2,825,368

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Goldman Sachs VIT Small Cap Equity Insights Fund, Service Shares			Goldman Sachs VIT Large Cap Value Fund, Service Shares			Goldman Sachs VIT Mid Cap Growth Fund, Service Shares			Goldman Sachs VIT Core Fixed Income Fund, Service Shares			Goldman Sachs VIT Mid Cap Value Fund, Service Shares			Goldman Sachs VIT Strategic Growth Fund, Service Shares			Goldman Sachs VIT U.S. Equity Insights Fund, Service Shares

INVESTMENT INCOME:
Dividend income	$	76,843		$	1,154,938		$	-		$	743,819		$	509,284		$	-		$	2,930

EXPENSES:
Mortality and expense risk and admin		79,317			848,171			476,949			262,574			859,509			1,471,079			7,899

NET INVESTMENT INCOME (LOSS)		(2,474	)		306,767			(476,949	)		481,245			(350,225	)		(1,471,079	)		(4,969	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(143,434	)		(668,753	)		(1,107,522	)		(321,970	)		(8,741,920	)		2,673,226			(2,329	)
Capital gain distributions		-			6,826,353			289,190			-			1,726,639			5,933,211			-

Net realized gain (loss) on investments		(143,434	)		6,157,600			(818,332	)		(321,970	)		(7,015,281	)		8,606,437			(2,329	)


Change in net unrealized appreciation (depreciation) on investments		1,786,904			1,848,242			7,766,026			1,078,132			8,932,900			34,900,079			138,285

Net realized and unrealized gain (loss) on investments		1,643,470			8,005,842			6,947,694			756,162			1,917,619			43,506,516			135,956

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	1,640,996		$	8,312,609		$	6,470,745		$	1,237,407		$	1,567,394		$	42,035,437		$	130,987

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Goldman Sachs VIT International Equity Insights Fund, Service Shares		Goldman Sachs VIT Trend Driven Allocation, Service Shares			Rydex Inverse Government Long Bond Strategy			Guggenheim Long Short Equity Fund			Rydex Commodities Strategy			Guggenheim Multi-Hedge Strategies Fund		Guggenheim Global Managed Futures Strategy Fund

INVESTMENT INCOME:
Dividend income	$	690,087	$	106,248		$	-		$	209		$	992		$	16,234	$	19,719

EXPENSES:
Mortality and expense risk and admin		291,855		87,073			80			1,214			95			5,761		5,721

NET INVESTMENT INCOME (LOSS)		398,232		19,175			(80	)		(1,005	)		897			10,473		13,998

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		948,392		(35,694	)		106			2,191			8			8,521		(4,288	)
Capital gain distributions		-		-			-			-			-			-		12,545

Net realized gain (loss) on investments		948,392		(35,694	)		106			2,191			8			8,521		8,257

Change in net unrealized appreciation (depreciation) on investments		3,271,330		840,948			205			12,890			(1,585	)		156		(1,916	)

Net realized and unrealized gain (loss) on investments		4,219,722		805,254			311			15,081			(1,577	)		8,677		6,341

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	4,617,954	$	824,429		$	231		$	14,076		$	(680	)	$	19,150	$	20,339

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Guggenheim Floating Rate Strategies, Series F		Invesco V.I. Conservative Balanced Fund, Series II		Invesco V.I. Balanced-Risk Allocation Fund Class, Series II			Invesco V.I. Main Street Small Cap Fund, Series II			Invesco V.I. Global Real Estate Fund, Series II			Invesco V.I. Government Securities Fund, Series II			Invesco V.I. EQV International Equity Fund, Series II

INVESTMENT INCOME:
Dividend income	$	119,700	$	522,839	$	-		$	40,205		$	31,695		$	2,126,090		$	-

EXPENSES:
Mortality and expense risk and admin		34,314		178,451		711,716			18,414			34,166			1,064,991			440,242

NET INVESTMENT INCOME (LOSS)		85,386		344,388		(711,716	)		21,791			(2,471	)		1,061,099			(440,242	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		22,345		246		(1,046,926	)		(1,252	)		(357,496	)		(1,270,649	)		(182,863	)
Capital gain distributions		-		-		-			-			-			-			18,733

Net realized gain (loss) on investments		22,345		246		(1,046,926	)		(1,252	)		(357,496	)		(1,270,649	)		(164,130	)

Change in net unrealized appreciation (depreciation) on investments		219,633		2,285,253		4,265,061			602,575			374,354			4,266,767			5,275,143

Net realized and unrealized gain (loss) on investments		241,978		2,285,499		3,218,135			601,323			16,858			2,996,118			5,111,013

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	327,364	$	2,629,887	$	2,506,419		$	623,114		$	14,387		$	4,057,217		$	4,670,771

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
		Invesco V.I. Main Street Mid Cap Fund, Series II			Invesco V.I. Small Cap Equity Fund, Series II			Invesco V.I. American Franchise Fund, Series I			Invesco V.I. Comstock Fund, Series I			Invesco V.I. Growth and Income Fund, Series I			Invesco V.I. American Franchise Fund, Series II			Invesco V.I. Comstock Fund, Series II

INVESTMENT INCOME:
Dividend income	$	7		$	-		$	-		$	383,361		$	373,551		$	-		$	1,967,992

EXPENSES:
Mortality and expense risk and admin		95			133,395			60,782			259,207			292,031			24,901			1,385,037

NET INVESTMENT INCOME (LOSS)		(88	)		(133,395	)		(60,782	)		124,154			81,520			(24,901	)		582,955

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		2,483			(208,380	)		82,444			1,111,590			209,909			58,466			2,185,458
Capital gain distributions		-			234,282			117,894			2,359,844			2,968,283			56,042			14,172,933

Net realized gain (loss) on investments		2,483			25,902			200,338			3,471,434			3,178,192			114,508			16,358,391

Change in net unrealized appreciation (depreciation) on investments		3,505			1,703,587			1,604,830			(1,347,663	)		(724,988	)		709,682			(5,020,634	)

Net realized and unrealized gain (loss) on investments		5,988			1,729,489			1,805,168			2,123,771			2,453,204			824,190			11,337,757

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	5,900		$	1,596,094		$	1,744,386		$	2,247,925		$	2,534,724		$	799,289		$	11,920,712

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Equity and Income Fund, Series II			Invesco V.I. Growth and Income Fund, Series II			Invesco V.I. American Value Fund, Series II			Protective Life Dynamic Allocation Series Growth Portfolio		Protective Life Dynamic Allocation Series Moderate Portfolio		Protective Life Dynamic Allocation Series Conservative Portfolio			Janus Henderson VIT Balanced Portfolio, Service Shares

INVESTMENT INCOME:
Dividend income	$	2,234,591		$	3,774,208		$	242,056		$	832,362	$	11,622,000	$	778,801		$	62,681

EXPENSES:
Mortality and expense risk and admin		1,698,181			3,985,984			624,630			530,549		5,337,974		428,215			32,144

NET INVESTMENT INCOME (LOSS)		536,410			(211,776	)		(382,574	)		301,813		6,284,026		350,586			30,537

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(3,612,052	)		(16,311,992	)		(941,742	)		276,610		417,440		(163,990	)		2,569
Capital gain distributions		6,784,154			36,913,661			13,481,691			3,340,949		-		803,331			-

Net realized gain (loss) on investments		3,172,102			20,601,669			12,539,949			3,617,559		417,440		639,341			2,569

Change in net unrealized appreciation (depreciation) on investments		5,641,662			442,912			(4,681,991	)		3,587,363		70,020,972		2,925,237			339,355

Net realized and unrealized gain (loss) on investments		8,813,764			21,044,581			7,857,958			7,204,922		70,438,412		3,564,578			341,924

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	9,350,174		$	20,832,805		$	7,475,384		$	7,506,735	$	76,722,438	$	3,915,164		$	372,461

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Janus Henderson Global Sustainable Equity Fund		Janus Henderson Overseas Fund, Class S		Janus Henderson Forty Fund, Class S			Janus Henderson VIT Global Technology and Innovation Portfolio, Service Shares			Lord Abbett Series Fund Growth and Income Portfolio			Lord Abbett Series Fund Mid Cap Stock Portfolio			Lord Abbett Series Fund Bond Debenture Portfolio

INVESTMENT INCOME:
Dividend income	$	49	$	6,277	$	1,514		$	-		$	505,170		$	202,436		$	24,001,873

EXPENSES:
Mortality and expense risk and admin		37		4,239		7,227			5,509			584,528			422,326			4,906,693

NET INVESTMENT INCOME (LOSS)		12		2,038		(5,713	)		(5,509	)		(79,358	)		(219,890	)		19,095,180

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		5		892		1,471			1,961			751,962			59,942			(5,966,635	)
Capital gain distributions		-		-		-			-			1,099,649			1,257,742			-

Net realized gain (loss) on investments		5		892		1,471			1,961			1,851,611			1,317,684			(5,966,635	)

Change in net unrealized appreciation (depreciation) on investments		907		27,543		188,672			175,143			4,390,588			4,244,812			11,774,372

Net realized and unrealized gain (loss) on investments		912		28,435		190,143			177,104			6,242,199			5,562,496			5,807,737

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	924	$	30,473	$	184,430		$	171,595		$	6,162,841		$	5,342,606		$	24,902,917

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Lord Abbett Series Fund Growth Opportunities Portfolio			Lord Abbett Series Fund Fundamental Equity Portfolio			Lord Abbett Series Fund Inc. Dividend Growth Portfolio			Lord Abbett Series Fund Short Duration Income Portfolio			ClearBridge Variable Dividend Strategy Portfolio, Class II			ClearBridge Variable Small Cap Growth Portfolio, Class II			ClearBridge Variable Mid Cap Portfolio, Class II

INVESTMENT INCOME:
Dividend income	$	-		$	790,003		$	804,491		$	233,648		$	7,734		$	-		$	6,442

EXPENSES:
Mortality and expense risk and admin		349,924			1,380,273			944,030			30,897			3,854			168,700			384,627

NET INVESTMENT INCOME (LOSS)		(349,924	)		(590,270	)		(139,539	)		202,751			3,880			(168,700	)		(378,185	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(2,593,570	)		(4,778,557	)		(123,229	)		443			(8,142	)		(1,426,191	)		(2,856,282	)
Capital gain distributions		-			4,023,646			5,642,367			-			58,399			-			185,406

Net realized gain (loss) on investments		(2,593,570	)		(754,911	)		5,519,138			443			50,257			(1,426,191	)		(2,670,876	)

Change in net unrealized appreciation (depreciation) on investments		3,860,723			10,226,806			7,778,618			(40,851	)		(11,304	)		1,117,628			3,829,733

Net realized and unrealized gain (loss) on investments		1,267,153			9,471,895			13,297,756			(40,408	)		38,953			(308,563	)		1,158,857

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	917,229		$	8,881,625		$	13,158,217		$	162,343		$	42,833		$	(477,263	)	$	780,672

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Western Asset Core Plus VIT Portfolio, Class II			MFS Growth Series, Initial Class			MFS Research Series, Initial Class			MFS Investors Trust Series, Initial Class			MFS Total Return Series, Initial Class		MFS Utilities Series, Initial Class			MFS New Discovery Series, Initial Class

INVESTMENT INCOME:
Dividend income	$	138,444		$	-		$	23,362		$	35,412		$	290,579	$	60,398		$	-

EXPENSES:
Mortality and expense risk and admin		47,549			71,557			61,175			66,982			177,839		21,872			27,031

NET INVESTMENT INCOME (LOSS)		90,895			(71,557	)		(37,813	)		(31,570	)		112,740		38,526			(27,031	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(2,123	)		12,801			6,641			212,875			217,510		15,425			268
Capital gain distributions		-			410,580			246,908			272,522			605,192		93,457			-

Net realized gain (loss) on investments		(2,123	)		423,381			253,549			485,397			822,702		108,882			268

Change in net unrealized appreciation (depreciation) on investments		100,789			1,205,796			658,785			354,326			311,808		(200,671	)		258,155

Net realized and unrealized gain (loss) on investments		98,666			1,629,177			912,334			839,723			1,134,510		(91,789	)		258,423

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	189,561		$	1,557,620		$	874,521		$	808,153		$	1,247,250	$	(53,263	)	$	231,392

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	MFS Massachusetts Investors Growth Stock Portfolio, Initial Class			MFS Emerging Markets Equity Portfolio, Service Class			MFS International Intrinsic Value Portfolio, Service Class			MFS Core Equity Portfolio, Service Class			MFS International Growth Portfolio, Service Class			MFS Massachusetts Investors Growth Stock Portfolio, Service Class			MFS Growth Series, Service Class

INVESTMENT INCOME:
Dividend income	$	4,968		$	2,816		$	75,748		$	-		$	-		$	14,385		$	-

EXPENSES:
Mortality and expense risk and admin		21,681			2,142			147,884			100			165			264,284			403,125

NET INVESTMENT INCOME (LOSS)		(16,713	)		674			(72,136	)		(100	)		(165	)		(249,899	)		(403,125	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		13,277			(67	)		889,521			6			971			215,329			146,205
Capital gain distributions		85,950			-			1,212,669			-			-			1,555,150			3,295,286

Net realized gain (loss) on investments		99,227			(67	)		2,102,190			6			971			1,770,479			3,441,491

Change in net unrealized appreciation (depreciation) on investments		248,904			21,168			493,941			6,077			9,842			4,624,381			8,702,457

Net realized and unrealized gain (loss) on investments		348,131			21,101			2,596,131			6,083			10,813			6,394,860			12,143,948

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	331,418		$	21,775		$	2,523,995		$	5,983		$	10,648		$	6,144,961		$	11,740,823

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	MFS Research Series, Service Class			MFS Investors Trust Series, Service Class			MFS Total Return Series, Service Class		MFS Utilities Series, Service Class			MFS Total Return Bond Series, Service Class			MFS New Discovery Series, Service Class			MFS Mid Cap Growth Series, Service Class

INVESTMENT INCOME:
Dividend income	$	7,636		$	189,977		$	723,409	$	606,804		$	8,700,829		$	-		$	-

EXPENSES:
Mortality and expense risk and admin		31,648			454,487			402,171		205,461			3,058,200			501,128			13

NET INVESTMENT INCOME (LOSS)		(24,012	)		(264,510	)		321,238		401,343			5,642,629			(501,128	)		(13	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		37,052			441,128			278,319		347,952			(3,065,544	)		25,940			-
Capital gain distributions		170,065			2,314,671			1,726,618		1,017,827			-			-			-

Net realized gain (loss) on investments		207,117			2,755,799			2,004,937		1,365,779			(3,065,544	)		25,940			-

Change in net unrealized appreciation (depreciation) on investments		406,453			4,104,080			1,096,484		(2,418,793	)		14,592,668			6,124,947			823

Net realized and unrealized gain (loss) on investments		613,570			6,859,879			3,101,421		(1,053,014	)		11,527,124			6,150,887			823

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	589,558		$	6,595,369		$	3,422,659	$	(651,671	)	$	17,169,753		$	5,649,759		$	810

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	MFS Value Series, Service Class			MFS Global Real Estate Portfolio, Service Class			MFS Mid Cap Value Portfolio, Service Class			Morgan Stanley VIF Global Strategist Portfolio		Morgan Stanley VIF Core Plus Fixed Income Portfolio			Morgan Stanley VIF Global Real Estate Portfolio, Class II			Invesco V.I. Global Strategic Income Fund

INVESTMENT INCOME:
Dividend income	$	2,000,587		$	-		$	-		$	1,156	$	471		$	94,277		$	-

EXPENSES:
Mortality and expense risk and admin		1,526,538			144			11			1,057		317			62,756			69,395

NET INVESTMENT INCOME (LOSS)		474,049			(144	)		(11	)		99		154			31,521			(69,395	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		3,586,819			8			-			46		(249	)		(52,556	)		(90,229	)
Capital gain distributions		10,028,041			-			-			-		-			-			-

Net realized gain (loss) on investments		13,614,860			8			-			46		(249	)		(52,556	)		(90,229	)

Change in net unrealized appreciation (depreciation) on investments		(5,329,830	)		14,273			834			13,923		686			445,872			527,775

Net realized and unrealized gain (loss) on investments		8,285,030			14,281			834			13,969		437			393,316			437,546


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	8,759,079		$	14,137		$	823		$	14,068	$	591		$	424,837		$	368,151

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Global Strategic Income Fund, Series II			Invesco V.I. Global Fund, Series I			Invesco V.I. Global Fund, Series II			Invesco V.I. Capital Appreciation Fund, Series I			Invesco V.I. Capital Appreciation Fund, Series II			Invesco V.I. Discovery Mid Cap Growth Fund, Series II			Invesco V.I. Discovery Mid Cap Growth Fund, Series I

INVESTMENT INCOME:
Dividend income	$	-		$	15,527		$	-		$	-		$	-		$	-		$	-

EXPENSES:
Mortality and expense risk and admin		2,305,560			84,294			2,481,168			92,896			428,449			270,076			43,263

NET INVESTMENT INCOME (LOSS)		(2,305,560	)		(68,767	)		(2,481,168	)		(92,896	)		(428,449	)		(270,076	)		(43,263	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(9,292,846	)		165,801			6,541,926			96,462			1,189,553			(336,781	)		11,828
Capital gain distributions		-			785,180			26,807,177			-			-			-			-

Net realized gain (loss) on investments		(9,292,846	)		950,981			33,349,103			96,462			1,189,553			(336,781	)		11,828

Change in net unrealized appreciation (depreciation) on investments		26,840,386			1,078,334			28,036,642			2,003,425			12,048,538			2,993,872			378,395

Net realized and unrealized gain (loss) on investments		17,547,540			2,029,315			61,385,745			2,099,887			13,238,091			2,657,091			390,223


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	15,241,980		$	1,960,548		$	58,904,577		$	2,006,991		$	12,809,642		$	2,387,015		$	346,960

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Main Street Fund, Series II			Invesco V.I. Main Street Fund, Series I			Invesco V.I. U.S. Government Money Portfolio, Series I		PIMCO Commodity RealReturn Strategy Portfolio, Advisor Class			PIMCO Total Return Portfolio, Advisor Class			PIMCO Real Return Portfolio, Advisor Class			PIMCO All Asset Portfolio

INVESTMENT INCOME:
Dividend income	$	457,433		$	53,974		$	30,660,543	$	890		$	20,442,430		$	6,499,374		$	124,082

EXPENSES:
Mortality and expense risk and admin		894,420			82,678			7,500,737		17			6,286,323			2,460,092			45,779

NET INVESTMENT INCOME (LOSS)		(436,987	)		(28,704	)		23,159,806		873			14,156,107			4,039,282			78,303

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		1,610,192			107,699			-		9			(11,118,521	)		(3,626,324	)		(265,694	)
Capital gain distributions		6,531,220			438,880			-		-			-			-			-

Net realized gain (loss) on investments		8,141,412			546,579			-		9			(11,118,521	)		(3,626,324	)		(265,694	)

Change in net unrealized appreciation (depreciation) on investments		10,151,311			765,903			-		(1,372	)		23,941,306			4,931,408			197,653

Net realized and unrealized gain (loss) on investments		18,292,723			1,312,482			-		(1,363	)		12,822,785			1,305,084			(68,041	)


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	17,855,736		$	1,283,778		$	23,159,806	$	(490	)	$	26,978,892		$	5,344,366		$	10,262

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	PIMCO High Yield Portfolio, Advisor Class			PIMCO Low Duration Portfolio, Advisor Class			PIMCO Short-Term Portfolio, Advisor Class			PIMCO Long-Term U.S. Government Portfolio, Advisor Class			PIMCO Global Diversified Allocation Portfolio			PIMCO Income Portfolio			Royce Capital Fund Small Cap Portfolio, Service Class

INVESTMENT INCOME:
Dividend income	$	20,537		$	4,280,770		$	3,187,083		$	438,379		$	170,475		$	41,558		$	872,797

EXPENSES:
Mortality and expense risk and admin		4,112			1,219,269			753,723			212,468			73,347			8,354			1,388,166

NET INVESTMENT INCOME (LOSS)		16,425			3,061,501			2,433,360			225,911			97,128			33,204			(515,369	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(1,963	)		(1,019,635	)		(33,953	)		(847,679	)		(98,745	)		(3,578	)		(7,677,057	)
Capital gain distributions		-			-			-			-			-			-			11,431,543

Net realized gain (loss) on investments		(1,963	)		(1,019,635	)		(33,953	)		(847,679	)		(98,745	)		(3,578	)		3,754,486

Change in net unrealized appreciation (depreciation) on investments		20,059			2,497,718			964,217			1,252,528			576,668			21,973			19,341,622

Net realized and unrealized gain (loss) on investments		18,096			1,478,083			930,264			404,849			477,923			18,395			23,096,108


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	34,521		$	4,539,584		$	3,363,624		$	630,760		$	575,051		$	51,599		$	22,580,739

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Royce Capital Fund Micro Cap Portfolio, Service Class			T. Rowe Price All-Cap Opportunities Portfolio			T. Rowe Price Moderate Allocation Portfolio			T. Rowe Price Mid-Cap Growth Portfolio, Class II			T. Rowe Price Blue Chip Growth Portfolio, Class II			T. Rowe Price Health Sciences Portfolio, Class II			Vanguard VIF Money Market Portfolio

INVESTMENT INCOME:
Dividend income	$	-		$	3,076		$	95,718		$	-		$	-		$	-		$	84,914

EXPENSES:
Mortality and expense risk and admin		132,003			6,793			19,085			268			122,579			40,517			5,173

NET INVESTMENT INCOME (LOSS)		(132,003	)		(3,717	)		76,633			(268	)		(122,579	)		(40,517	)		79,741

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(684,798	)		762			(69	)		2			123,792			(22,586	)		-
Capital gain distributions		-			88,382			21,262			14,271			-			268,026			22

Net realized gain (loss) on investments		(684,798	)		89,144			21,193			14,273			123,792			245,440			22

Change in net unrealized appreciation (depreciation) on investments		1,794,721			145,476			445,161			1,973			5,022,854			19,279			-

Net realized and unrealized gain (loss) on investments		1,109,923			234,620			466,354			16,246			5,146,646			264,719			22


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	977,920		$	230,903		$	542,987		$	15,978		$	5,024,067		$	224,202		$	79,763

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Vanguard VIF Balanced Portfolio			Vanguard VIF Equity Index Portfolio		Vanguard VIF Equity Income Portfolio			Vanguard VIF Growth Portfolio			Vanguard VIF International Portfolio		Vanguard VIF Total Bond Market Index Portfolio			Vanguard VIF High Yield Bond Portfolio

INVESTMENT INCOME:
Dividend income	$	18,194		$	25,247	$	20,016		$	3,501		$	13,767	$	53,999		$	9,394

EXPENSES:
Mortality and expense risk and admin		2,830			5,397		2,205			4,157			2,645		6,778			571

NET INVESTMENT INCOME (LOSS)		15,364			19,850		17,811			(656	)		11,122		47,221			8,823

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(406	)		7,908		(33,942	)		17,198			3,131		(7,101	)		33
Capital gain distributions		35,259			55,915		39,133			-			29,687		-			-

Net realized gain (loss) on investments		34,853			63,823		5,191			17,198			32,818		(7,101	)		33

Change in net unrealized appreciation (depreciation) on investments		73,037			335,617		34,216			431,213			68,428		73,776			11,529

Net realized and unrealized gain (loss) on investments		107,890			399,440		39,407			448,411			101,246		66,675			11,562


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	123,254		$	419,290	$	57,218		$	447,755		$	112,368	$	113,896		$	20,385

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Vanguard VIF Short-Term Investment-Grade Portfolio		Vanguard VIF Capital Growth Portfolio		Vanguard VIF Diversified Value Portfolio		Vanguard VIF Total Stock Market Index Portfolio		Vanguard VIF Mid-Cap Index Portfolio		Vanguard VIF Real Estate Index Portfolio		Vanguard VIF Conservative Allocation Portfolio

INVESTMENT INCOME:
Dividend income	$	36,381	$	3,588	$	2,099	$	24,335	$	14,101	$	10,077	$	24,320

EXPENSES:
Mortality and expense risk and admin		5,635		895		719		6,725		3,009		1,239		4,080

NET INVESTMENT INCOME (LOSS)		30,746		2,693		1,380		17,610		11,092		8,838		20,240

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		691		8,822		527		1,448		329		738		2,514
Capital gain distributions		-		17,285		7,980		118,601		17,696		19,010		31,477

Net realized gain (loss) on investments		691		26,107		8,507		120,049		18,025		19,748		33,991

Change in net unrealized appreciation (depreciation) on investments		87,620		48,010		39,642		381,516		119,732		20,199		105,119

Net realized and unrealized gain (loss) on investments		88,311		74,117		48,149		501,565		137,757		39,947		139,110


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	119,057	$	76,810	$	49,529	$	519,175	$	148,849	$	48,785	$	159,350

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Vanguard VIF Moderate Allocation Portfolio			Vanguard VIF Total International Stock Market Index Portfolio		Vanguard VIF Global Bond Index Portfolio			VanEck VIP Global Resources Fund, Class I

INVESTMENT INCOME:
Dividend income	$	14,329		$	35,799	$	4,204		$	5,815

EXPENSES:
Mortality and expense risk and admin		2,107			3,782		679			3,676

NET INVESTMENT INCOME (LOSS)		12,222			32,017		3,525			2,139

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(235	)		3,190		(10	)		16,522
Capital gain distributions		22,838			14,991		366			-

Net realized gain (loss) on investments		22,603			18,181		356			16,522

Change in net unrealized appreciation (depreciation) on investments		65,245			131,865		11,748			(31,492	)

Net realized and unrealized gain (loss) on investments		87,848			150,046		12,104			(14,970	)


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	100,070		$	182,063	$	15,629		$	(12,831	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Concluded)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	AB VPS Relative Value Portfolio, Class B			AB VPS Large Cap Growth Portfolio, Class B			AB VPS Small Cap Growth Portfolio, Class B			AB VPS Discovery Value Portfolio, Class B			American Century Investments VP Balanced Fund, Class I			American Century Investments VP International Fund, Class I			American Century Investments VP Ultra Fund, Class I

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	9,095		$	(128,477	)	$	(3,442	)	$	1,506		$	414		$	(138	)	$	(729	)
Net realized gain (loss) on investments		78,292			1,248,321			(738	)		28,663			(9	)		4			(5	)
Change in net unrealized appreciation (depreciation) on investments		62,369			3,456,703			63,028			61,976			5,505			9,251			16,437

Net increase (decrease) in net assets resulting from operations		149,756			4,576,547			58,848			92,145			5,910			9,117			15,703

CONTRACT TRANSACTIONS:
Contract owners' net payments		531,133			10,980,642			80,853			110,945			73,988			-			82,685
Contract maintenance charges		(5,871	)		(234,278	)		(1,284	)		(3,363	)		(285	)		(44	)		(270	)
Contract owners' benefits		(53,575	)		(247,061	)		(2,643	)		(24,343	)		-			-			-
Net transfers (to) from the Company and/or Subaccounts		719,103			5,790,544			36,116			388,927			(50,015	)		127,489			39,091

Increase (decrease) in net assets resulting from Contract transactions		1,190,790			16,289,847			113,042			472,166			23,688			127,445			121,506

Total increase (decrease) in net assets		1,340,546			20,866,394			171,890			564,311			29,598			136,562			137,209

NET ASSETS:
Beginning of period		744,538			7,457,714			299,234			511,754			70,831			-			-

End of period	$	2,085,084		$	28,324,108		$	471,124		$	1,076,065		$	100,429		$	136,562		$	137,209

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Growth-Income Fund, Class 2			American Funds IS Growth Fund, Class 2			American Funds IS American High-Income Trust, Class 2			American Funds IS U.S. Government Securities Fund, Class 2			American Funds IS International Growth and Income Fund, Class 2			American Funds IS Asset Allocation Fund, Class 2			American Funds IS International Fund, Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	112,267		$	(258,177	)	$	42,707		$	108,798		$	17,361		$	1,132,513		$	45,261
Net realized gain (loss) on investments		1,001,510			3,597,845			84			(2,786	)		2,222			3,299,889			2,929
Change in net unrealized appreciation (depreciation) on investments		2,994,383			15,727,689			29,207			(40,004	)		117,913			6,048,479			1,274,098

Net increase (decrease) in net assets resulting from operations		4,108,160			19,067,357			71,998			66,008			137,496			10,480,881			1,322,288

CONTRACT TRANSACTIONS:
Contract owners' net payments		913,931			1,992,547			50,854			41,870			127,349			1,196,885			96,102
Contract maintenance charges		(90,507	)		(384,812	)		(3,795	)		(17,688	)		(5,160	)		(682,700	)		(40,093	)
Contract owners' benefits		(1,159,675	)		(3,795,207	)		(68,818	)		(146,101	)		(123,300	)		(7,020,710	)		(830,627	)
Net transfers (to) from the Company and/or Subaccounts		(214,744	)		(1,196,421	)		139,113			527,983			(1,355	)		4,292,908			(121,283	)

Increase (decrease) in net assets resulting from Contract transactions		(550,995	)		(3,383,893	)		117,354			406,064			(2,466	)		(2,213,617	)		(895,901	)

Total increase (decrease) in net assets		3,557,165			15,683,464			189,352			472,072			135,030			8,267,264			426,387

NET ASSETS:
Beginning of period		16,383,065			51,021,437			534,815			3,304,073			912,580			81,196,187			9,242,304

End of period	$	19,940,230		$	66,704,901		$	724,167		$	3,776,145		$	1,047,610		$	89,463,451		$	9,668,691

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Washington Mutual Investors Fund, Class 2			American Funds IS Capital World Growth and Income Fund, Class 2			American Funds IS Global Small Capitalization Fund, Class 2			American Funds IS New World Fund, Class 2			American Funds IS Global Growth Fund, Class 2			American Funds IS The Bond Fund of America, Class 2			American Funds IS Capital World Bond Fund, Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	425,375		$	71,427		$	(36,943	)	$	58,913		$	30,091		$	1,084,229		$	(3,673	)
Net realized gain (loss) on investments		395,625			35,281			97,279			(25,287	)		7,494,487			(24,456	)		(2,174	)
Change in net unrealized appreciation (depreciation) on investments		5,312,413			1,083,048			928,782			1,258,479			10,847,873			500,567			26,408

Net increase (decrease) in net assets resulting from operations		6,133,413			1,189,756			989,118			1,292,105			18,372,451			1,560,340			20,561

CONTRACT TRANSACTIONS:
Contract owners' net payments		921,775			138,603			168,377			195,680			2,102,300			2,942,197			4,672
Contract maintenance charges		(192,914	)		(26,928	)		(33,695	)		(42,585	)		(1,198,578	)		(407,805	)		(2,722	)
Contract owners' benefits		(3,534,685	)		(503,555	)		(353,973	)		(544,901	)		(8,764,708	)		(1,610,475	)		(83,566	)
Net transfers (to) from the Company and/or Subaccounts		779,367			(81,823	)		231,492			(173,411	)		(5,386,533	)		5,435,151			57,882

Increase (decrease) in net assets resulting from Contract transactions		(2,026,457	)		(473,703	)		12,201			(565,217	)		(13,247,519	)		6,359,068			(23,734	)

Total increase (decrease) in net assets		4,106,956			716,053			1,001,319			726,888			5,124,932			7,919,408			(3,173	)

NET ASSETS:
Beginning of period		38,161,300			6,142,726			6,482,577			8,784,139			90,605,279			32,758,293			462,812

End of period	$	42,268,256		$	6,858,779		$	7,483,896		$	9,511,027		$	95,730,211		$	40,677,701		$	459,639

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Growth-Income Fund, Class 4			American Funds IS Growth Fund, Class 4			American Funds IS American High-Income Trust, Class 4			American Funds IS U.S. Government Securities Fund, Class 4			American Funds IS International Growth and Income Fund, Class 4			American Funds IS Asset Allocation Fund, Class 4			American Funds IS International Fund, Class 4

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	117,321		$	(415,795	)	$	72,166		$	173,628		$	13,265		$	563,849		$	36,474
Net realized gain (loss) on investments		1,008,170			(1,304,966	)		186			(301,613	)		(21	)		(303,315	)		16,510
Change in net unrealized appreciation (depreciation) on investments		4,138,358			18,126,736			27,613			280,531			37,740			5,163,412			338,514

Net increase (decrease) in net assets resulting from operations		5,263,849			16,405,975			99,965			152,546			50,984			5,423,946			391,498

CONTRACT TRANSACTIONS:
Contract owners' net payments		13,396,124			24,189,478			1,178,253			2,871,283			521,848			19,570,607			4,023,568
Contract maintenance charges		(150,493	)		(330,265	)		(11,229	)		(61,619	)		(5,562	)		(307,279	)		(41,372	)
Contract owners' benefits		(2,980,841	)		(7,099,286	)		(10,028	)		(355,657	)		-			(7,324,607	)		(178,981	)
Net transfers (to) from the Company and/or Subaccounts		4,869,666			3,858,964			283,943			746,378			264,494			7,235,806			2,188,827

Increase (decrease) in net assets resulting from Contract transactions		15,134,456			20,618,891			1,440,939			3,200,385			780,780			19,174,527			5,992,042

Total increase (decrease) in net assets		20,398,305			37,024,866			1,540,904			3,352,931			831,764			24,598,473			6,383,540

NET ASSETS:
Beginning of period		14,624,874			37,933,764			-			4,042,067			-			30,863,519			534,859

End of period	$	35,023,179		$	74,958,630		$	1,540,904		$	7,394,998		$	831,764		$	55,461,992		$	6,918,399

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Washington Mutual Investors Fund, Class 4			American Funds IS Capital World Growth and Income Fund, Class 4			American Funds IS Global Small Capitalization Fund, Class 4			American Funds IS New World Fund, Class 4			American Funds IS Global Growth Fund, Class 4			American Funds IS The Bond Fund of America, Class 4			American Funds IS Capital World Bond Fund, Class 4

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	137,374		$	45,491		$	(8,593	)	$	4,355		$	(15,819	)	$	833,473		$	(3,646	)
Net realized gain (loss) on investments		73,084			10,778			12,943			(194	)		1,836,225			(4,315	)		(99	)
Change in net unrealized appreciation (depreciation) on investments		1,417,032			704,234			137,410			63,838			3,427,611			434,972			76,293

Net increase (decrease) in net assets resulting from operations		1,627,490			760,503			141,760			67,999			5,248,017			1,264,130			72,548

CONTRACT TRANSACTIONS:
Contract owners' net payments		9,675,459			2,080,211			1,017,178			263,414			20,730,448			20,430,567			1,110,226
Contract maintenance charges		(107,806	)		(24,428	)		(10,127	)		(1,157	)		(329,106	)		(249,007	)		(9,933	)
Contract owners' benefits		(164,817	)		(681,650	)		(33,893	)		(34,142	)		(1,938,820	)		(1,030,866	)		(11,595	)
Net transfers (to) from the Company and/or Subaccounts		2,767,768			581,065			299,418			164,221			8,704,797			8,572,505			382,975

Increase (decrease) in net assets resulting from Contract transactions		12,170,604			1,955,198			1,272,576			392,336			27,167,319			27,723,199			1,471,673

Total increase (decrease) in net assets		13,798,094			2,715,701			1,414,336			460,335			32,415,336			28,987,329			1,544,221

NET ASSETS:
Beginning of period		3,041,224			2,976,841			392,457			337,275			14,450,980			8,478,121			-

End of period	$	16,839,318		$	5,692,542		$	1,806,793		$	797,610		$	46,866,316		$	37,465,450		$	1,544,221

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	American Funds IS Capital Income Builder, Class 2			American Funds IS Capital Income Builder, Class 4			BlackRock Global Allocation V.I. Fund, Class III			BlackRock International V.I. Fund, Class I			BlackRock Advantage SMID Cap V.I. Fund, Class III			BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III			Calvert VP SRI Balanced Portfolio

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	155,866		$	195,852		$	503,256		$	5,998		$	1,622		$	154,937		$	2,370
Net realized gain (loss) on investments		8,601			40,091			(924	)		469			-			(6,354	)		8,652
Change in net unrealized appreciation (depreciation) on investments		411,649			664,804			1,763,311			125,760			5,022			854,651			149,063

Net increase (decrease) in net assets resulting from operations		576,116			900,747			2,265,643			132,227			6,644			1,003,234			160,085

CONTRACT TRANSACTIONS:
Contract owners' net payments		67,548			6,522,452			7,891,469			807,809			164,901			6,577,239			-
Contract maintenance charges		(32,350	)		(106,092	)		(297,626	)		(7,387	)		(31	)		(72,204	)		(402	)
Contract owners' benefits		(206,533	)		(985,546	)		(394,200	)		(866	)		-			(112,019	)		(40,158	)
Net transfers (to) from the Company and/or Subaccounts		(41,444	)		1,546,499			5,312,709			79,371			1			1,798,596			148

Increase (decrease) in net assets resulting from Contract transactions		(212,779	)		6,977,313			12,512,352			878,927			164,871			8,191,612			(40,412	)

Total increase (decrease) in net assets		363,337			7,878,060			14,777,995			1,011,154			171,515			9,194,846			119,673

NET ASSETS:
Beginning of period		7,249,775			6,477,678			12,534,174			404,767			-			2,986,490			1,078,703

End of period	$	7,613,112		$	14,355,738		$	27,312,169		$	1,415,921		$	171,515		$	12,181,336		$	1,198,376

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	ClearBridge Variable Large Cap Growth Portfolio, Class II			Columbia VP Emerging Markets Bond Fund, Class 2			Columbia VP Strategic Income Fund, Class 2			Columbia VP Intermediate Bond Fund, Class 2			Columbia VP Limited Duration Credit Fund, Class 2			Columbia VP Select Mid Cap Value Fund, Class 2			Columbia VP Seligman Global Technology Fund, Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(3,497	)	$	14,069		$	277,532		$	18,416		$	15,592		$	(6,828	)	$	(281	)
Net realized gain (loss) on investments		4,876			21			2,524			12			(2,141	)		(10,679	)		13
Change in net unrealized appreciation (depreciation) on investments		106,971			19,463			648,024			61,535			16,545			99,970			23,959

Net increase (decrease) in net assets resulting from operations		108,350			33,553			928,080			79,963			29,996			82,463			23,691

CONTRACT TRANSACTIONS:
Contract owners' net payments		72,245			270,178			5,346,439			43,465			284,558			229,487			17,000
Contract maintenance charges		(1,310	)		(3,517	)		(161,517	)		(9,290	)		(3,648	)		(3,814	)		(90	)
Contract owners' benefits		(1,749	)		-			(219,861	)		(144,657	)		(112,851	)		(25,927	)		-
Net transfers (to) from the Company and/or Subaccounts		480,905			95,019			3,254,275			1,193,626			248,725			372,254			212,483

Increase (decrease) in net assets resulting from Contract transactions		550,091			361,680			8,219,336			1,083,144			416,784			572,000			229,393

Total increase (decrease) in net assets		658,441			395,233			9,147,416			1,163,107			446,780			654,463			253,084

NET ASSETS:
Beginning of period		146,811			105,656			5,874,597			890,164			259,103			595,636			-

End of period	$	805,252		$	500,889		$	15,022,013		$	2,053,271		$	705,883		$	1,250,099		$	253,084

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Columbia VP Balanced Fund, Class 2			Dimensional VA Short-Term Fixed Portfolio			Dimensional VA Global Bond Portfolio			Dimensional VA US Large Value Portfolio			Dimensional VA US Targeted Value Portfolio			Dimensional VA International Value Portfolio			Dimensional VA International Small Portfolio

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(33,403	)	$	78,921		$	50,560		$	66,729		$	24,505		$	62,360		$	29,513
Net realized gain (loss) on investments		13,214			235			290			48,709			133,145			12,667			(510	)
Change in net unrealized appreciation (depreciation) on investments		689,345			(2,019	)		1,080			203,843			164,645			120,880			87,788

Net increase (decrease) in net assets resulting from operations		669,156			77,137			51,930			319,281			322,295			195,907			116,791

CONTRACT TRANSACTIONS:
Contract owners' net payments		3,079,261			916,115			534,844			824,462			525,271			353,317			218,499
Contract maintenance charges		(42,180	)		(5,412	)		(1,408	)		(4,050	)		(4,035	)		(1,978	)		(2,000	)
Contract owners' benefits		(102,735	)		(61,107	)		(51,839	)		(87,940	)		(73,509	)		(15,734	)		(12,369	)
Net transfers (to) from the Company and/or Subaccounts		1,001,541			412,079			53,975			93,862			(4,548	)		(85,379	)		89,885

Increase (decrease) in net assets resulting from Contract transactions		3,935,887			1,261,675			535,572			826,334			443,179			250,226			294,015

Total increase (decrease) in net assets		4,605,043			1,338,812			587,502			1,145,615			765,474			446,133			410,806

NET ASSETS:
Beginning of period		1,668,350			899,932			817,264			2,370,079			1,275,723			1,015,858			671,909

End of period	$	6,273,393		$	2,238,744		$	1,404,766		$	3,515,694		$	2,041,197		$	1,461,991		$	1,082,715

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Dimensional VA Global Moderate Allocation Portfolio, Institutional			Dimensional VA Equity Allocation Portfolio, Institutional			Fidelity VIP Equity-Income Portfolio, Service Class 2			Fidelity VIP Growth Portfolio, Service Class 2			Fidelity VIP High Income Portfolio, Service Class 2			Fidelity VIP Asset Manager Portfolio, Service Class 2			Fidelity VIP Asset Manager Growth Portfolio, Service Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	12,811		$	5,855		$	33,406		$	(27,622	)	$	1,576		$	9,525		$	113,697
Net realized gain (loss) on investments		9,162			1,346			193,389			192,730			(1	)		1,607			96
Change in net unrealized appreciation (depreciation) on investments		50,985			23,624			222,688			601,395			(200	)		30,764			418,803

Net increase (decrease) in net assets resulting from operations		72,958			30,825			449,483			766,503			1,375			41,896			532,596

CONTRACT TRANSACTIONS:
Contract owners' net payments		-			183,992			5,498			62,091			25,500			383,149			5,750,440
Contract maintenance charges		(2,835	)		(516	)		(43,575	)		(13,403	)		(168	)		(6,253	)		(57,576	)
Contract owners' benefits		-			(3,768	)		(441,133	)		(337,020	)		-			(10,044	)		(439	)
Net transfers (to) from the Company and/or Subaccounts		(5,163	)		5,853			59,149			(57,198	)		4,440			118,986			2,134,775

Increase (decrease) in net assets resulting from Contract transactions		(7,998	)		185,561			(420,061	)		(345,530	)		29,772			485,838			7,827,200

Total increase (decrease) in net assets		64,960			216,386			29,422			420,973			31,147			527,734			8,359,796

NET ASSETS:
Beginning of period		500,779			107,974			5,153,513			2,364,042			-			115,330			75,616

End of period	$	565,739		$	324,360		$	5,182,935		$	2,785,015		$	31,147		$	643,064		$	8,435,412

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Contrafund Portfolio, Service Class 2			Fidelity VIP Index 500 Portfolio, Service Class 2			Fidelity VIP Investment Grade Bond Portfolio, Service Class 2			Fidelity VIP Balanced Portfolio, Service Class 2			Fidelity VIP Growth & Income Portfolio, Service Class 2			Fidelity VIP Mid Cap Portfolio, Service Class 2			Fidelity VIP Utilities Portfolio, Initial Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(1,851,523	)	$	1,358,221		$	3,753,991		$	271,051		$	223		$	(1,164,487	)	$	3,778
Net realized gain (loss) on investments		12,555,657			10,636,740			(3,448,898	)		741,647			900			(3,471,123	)		3,215
Change in net unrealized appreciation (depreciation) on investments		51,827,917			89,857,702			11,801,172			4,137,726			1,448			18,278,441			(204	)

Net increase (decrease) in net assets resulting from operations		62,532,051			101,852,663			12,106,265			5,150,424			2,571			13,642,831			6,789

CONTRACT TRANSACTIONS:
Contract owners' net payments		4,746,076			14,173,899			9,005,121			12,608,567			24,361			1,721,433			58,541
Contract maintenance charges		(2,614,871	)		(3,414,192	)		(3,369,612	)		(416,979	)		(148	)		(2,142,038	)		(620	)
Contract owners' benefits		(29,663,789	)		(85,248,273	)		(27,067,233	)		(471,022	)		-			(23,502,595	)		(3,094	)
Net transfers (to) from the Company and/or Subaccounts		89,890,216			364,795,607			18,603,546			7,501,508			7,679			90,673,788			108,371

Increase (decrease) in net assets resulting from Contract transactions		62,357,632			290,307,041			(2,828,178	)		19,222,074			31,892			66,750,588			163,198

Total increase (decrease) in net assets		124,889,683			392,159,704			9,278,087			24,372,498			34,463			80,393,419			169,987

NET ASSETS:
Beginning of period		143,936,154			248,695,661			246,236,117			17,083,116			-			137,923,249			67,478

End of period	$	268,825,837		$	640,855,365		$	255,514,204		$	41,455,614		$	34,463		$	218,316,668		$	237,465

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Technology Portfolio, Initial Class			Fidelity VIP Health Care Portfolio, Service Class 2			Fidelity VIP Value Strategies Portfolio, Service Class 2			Fidelity VIP Strategic Income Portfolio, Service Class 2			Fidelity VIP International Capital Appreciation Portfolio, Service Class 2			Fidelity VIP Freedom Funds 2015 Portfolio, Service Class 2			Fidelity VIP Freedom Funds 2020 Portfolio, Service Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(10,135	)	$	(13,507	)	$	3,276		$	1,009		$	136		$	17,005		$	48,539
Net realized gain (loss) on investments		26,102			287			39,725			-			11			(53,827	)		2,727
Change in net unrealized appreciation (depreciation) on investments		793,853			60,770			118,544			355			47,834			98,030			190,781

Net increase (decrease) in net assets resulting from operations		809,820			47,550			161,545			1,364			47,981			61,208			242,047

CONTRACT TRANSACTIONS:
Contract owners' net payments		4,024,433			696,683			125,322			-			349,711			405			777
Contract maintenance charges		(43,234	)		(9,552	)		(4,123	)		(221	)		(30	)		(6,994	)		(11,757	)
Contract owners' benefits		(561	)		(24,234	)		(25,001	)		-			-			(322,229	)		(95,979	)
Net transfers (to) from the Company and/or Subaccounts		1,951,599			85,130			245,468			31,109			84,992			(2,315	)		(29,795	)

Increase (decrease) in net assets resulting from Contract transactions		5,932,237			748,027			341,666			30,888			434,673			(331,133	)		(136,754	)

Total increase (decrease) in net assets		6,742,057			795,577			503,211			32,252			482,654			(269,925	)		105,293

NET ASSETS:
Beginning of period		166,863			959,630			569,474			-			-			940,097			2,239,805

End of period	$	6,908,920		$	1,755,207		$	1,072,685		$	32,252		$	482,654		$	670,172		$	2,345,098

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Energy Portfolio, Service Class 2			Fidelity VIP FundsManager 20% Portfolio, Service Class 2			Fidelity VIP FundsManager 85% Portfolio, Service Class 2			Fidelity VIP FundsManager 60% Portfolio, Service Class 2			Fidelity VIP Target Volatility Portfolio, Service Class 2			Fidelity VIP Extended Market Index Portfolio, Service Class 2			Fidelity VIP International Index Portfolio, Service Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	22,641		$	31,556		$	3,880		$	16,330		$	4,934		$	1,744		$	27,081
Net realized gain (loss) on investments		4,553			480			312			133			(2,628	)		1,236			497
Change in net unrealized appreciation (depreciation) on investments		(84,917	)		43,916			95,029			30,578			22,719			17,694			85,010

Net increase (decrease) in net assets resulting from operations		(57,723	)		75,952			99,221			47,041			25,025			20,674			112,588

CONTRACT TRANSACTIONS:
Contract owners' net payments		204,135			80,885			60,703			935,797			51,168			64,501			908,284
Contract maintenance charges		(2,026	)		(10,098	)		(3,083	)		(6,891	)		(2,715	)		(551	)		(10,109	)
Contract owners' benefits		(135,197	)		(41,454	)		-			(3,942	)		(1,646	)		-			(12,420	)
Net transfers (to) from the Company and/or Subaccounts		(85,674	)		153,272			85,181			64,320			219,502			59,347			340,873

Increase (decrease) in net assets resulting from Contract transactions		(18,762	)		182,605			142,801			989,284			266,309			123,297			1,226,628

Total increase (decrease) in net assets		(76,485	)		258,557			242,022			1,036,325			291,334			143,971			1,339,216

NET ASSETS:
Beginning of period		1,501,983			1,014,473			547,337			-			89,078			52,723			215,701

End of period	$	1,425,498		$	1,273,030		$	789,359		$	1,036,325		$	380,412		$	196,694		$	1,554,917

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Fidelity VIP Total Market Index Portfolio			Fidelity VIP Bond Index Portfolio			Templeton Developing Markets VIP Fund, Class 2			Templeton Foreign VIP Fund, Class 2			Franklin Small-Mid Cap Growth VIP Fund, Class 2			Franklin DynaTech VIP Fund			Templeton Growth VIP Fund, Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	6,954		$	52,939		$	112,697		$	1,495,974		$	(322,614	)	$	(411,887	)	$	1,847,369
Net realized gain (loss) on investments		952			70			(610,141	)		(368,966	)		(68,250	)		585,074			(817,570	)
Change in net unrealized appreciation (depreciation) on investments		469,550			82,047			421,490			10,722,309			5,959,245			13,576,654			12,712,852

Net increase (decrease) in net assets resulting from operations		477,456			135,056			(75,954	)		11,849,317			5,568,381			13,749,841			13,742,651

CONTRACT TRANSACTIONS:
Contract owners' net payments		843,815			2,210,716			133,376			350,940			437,693			1,499,510			333,201
Contract maintenance charges		(9,985	)		(20,846	)		(88,417	)		(794,902	)		(273,546	)		(388,635	)		(858,277	)
Contract owners' benefits		(734	)		(55,717	)		(1,155,334	)		(8,149,519	)		(3,461,829	)		(3,502,014	)		(8,875,255	)
Net transfers (to) from the Company and/or Subaccounts		150,912			1,118,159			6,059,011			(3,848,908	)		10,608,559			16,976,665			1,575,883

Increase (decrease) in net assets resulting from Contract transactions		984,008			3,252,312			4,948,636			(12,442,389	)		7,310,877			14,585,526			(7,824,448	)

Total increase (decrease) in net assets		1,461,464			3,387,368			4,872,682			(593,072	)		12,879,258			28,335,367			5,918,203

NET ASSETS:
Beginning of period		1,423,232			483,111			2,397,224			67,900,522			21,330,274			22,951,849			74,950,185

End of period	$	2,884,696		$	3,870,479		$	7,269,906		$	67,307,450		$	34,209,532		$	51,287,216		$	80,868,388

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Templeton Global Bond VIP Fund, Class 2			Franklin Mutual Shares VIP Fund, Class 2			Franklin Mutual Global Discovery VIP Fund, Class 2			Franklin Income VIP Fund, Class 2			Franklin Rising Dividends VIP Fund, Class 2			Franklin Small Cap Value VIP Fund, Class 2			Franklin Strategic Income VIP Fund, Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(2,023,979	)	$	3,958,173		$	49,865		$	5,866,345		$	(183,882	)	$	(208,871	)	$	219,122
Net realized gain (loss) on investments		(10,840,985	)		19,243,531			221,828			2,256,458			20,050,176			848,325			(68,365	)
Change in net unrealized appreciation (depreciation) on investments		15,807,962			9,851,487			317,928			(1,736,055	)		4,201,674			2,406,139			233,509

Net increase (decrease) in net assets resulting from operations		2,942,998			33,053,191			589,621			6,386,748			24,067,968			3,045,593			384,266

CONTRACT TRANSACTIONS:
Contract owners' net payments		606,930			1,546,888			3,750			3,219,546			18,442,538			3,650,425			39,349
Contract maintenance charges		(2,632,493	)		(5,352,622	)		(8,499	)		(1,385,728	)		(3,178,636	)		(391,334	)		(16,711	)
Contract owners' benefits		(23,764,621	)		(50,170,871	)		(333,117	)		(17,746,134	)		(31,692,097	)		(3,747,677	)		(609,681	)
Net transfers (to) from the Company and/or Subaccounts		2,836,559			114,217,280			(25,501	)		46,045,346			10,191,121			9,628,399			6,982

Increase (decrease) in net assets resulting from Contract transactions		(22,953,625	)		60,240,675			(363,367	)		30,133,030			(6,237,074	)		9,139,813			(580,061	)

Total increase (decrease) in net assets		(20,010,627	)		93,293,866			226,254			36,519,778			17,830,894			12,185,406			(195,795	)

NET ASSETS:
Beginning of period		200,902,943			354,551,926			3,281,128			103,413,189			282,597,447			31,949,336			5,906,977

End of period	$	180,892,316		$	447,845,792		$	3,507,382		$	139,932,967		$	300,428,341		$	44,134,742		$	5,711,182

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Franklin U.S. Government Securities VIP Fund, Class 2			Goldman Sachs VIT Large Cap Value Fund, Institutional Shares			Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Shares			Goldman Sachs VIT Small Cap Equity Insights Fund, Institutional Shares			Goldman Sachs VIT Strategic Growth Fund, Institutional Shares			Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares			Goldman Sachs VIT International Equity Insights Fund, Institutional Shares

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	5,319,314		$	183,255		$	(146,822	)	$	(37,109	)	$	(320,516	)	$	4,133		$	278,486
Net realized gain (loss) on investments		(7,255,912	)		2,598,037			123,552			(323,545	)		1,566,031			117,876			(1,043,574	)
Change in net unrealized appreciation (depreciation) on investments		12,389,150			651,838			4,595,767			3,206,324			8,016,447			422,406			3,590,456

Net increase (decrease) in net assets resulting from operations		10,452,552			3,433,130			4,572,497			2,845,670			9,261,962			544,415			2,825,368

CONTRACT TRANSACTIONS:
Contract owners' net payments		1,036,136			369,215			358,668			244,886			511,216			20,275			193,397
Contract maintenance charges		(4,441,075	)		(42,959	)		(9,646	)		(30,714	)		(40,290	)		(7,261	)		(72,839	)
Contract owners' benefits		(38,471,957	)		(3,597,192	)		(3,369,943	)		(1,943,328	)		(3,444,796	)		(484,750	)		(1,908,204	)
Net transfers (to) from the Company and/or Subaccounts		10,164,002			(222,369	)		(251,682	)		(93,903	)		(807,537	)		23,141			(487,533	)

Increase (decrease) in net assets resulting from Contract transactions		(31,712,894	)		(3,493,305	)		(3,272,603	)		(1,823,059	)		(3,781,407	)		(448,595	)		(2,275,179	)

Total increase (decrease) in net assets		(21,260,342	)		(60,175	)		1,299,894			1,022,611			5,480,555			95,820			550,189

NET ASSETS:
Beginning of period		332,953,217			31,618,081			22,307,312			16,934,370			24,289,268			5,592,654			17,274,604

End of period	$	311,692,875		$	31,557,906		$	23,607,206		$	17,956,981		$	29,769,823		$	5,688,474		$	17,824,793

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

100

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Goldman Sachs VIT Small Cap Equity Insights Fund, Service Shares			Goldman Sachs VIT Large Cap Value Fund, Service Shares			Goldman Sachs VIT Mid Cap Growth Fund, Service Shares			Goldman Sachs VIT Core Fixed Income Fund, Service Shares			Goldman Sachs VIT Mid Cap Value Fund, Service Shares			Goldman Sachs VIT Strategic Growth Fund, Service Shares			Goldman Sachs VIT U.S. Equity Insights Fund, Service Shares

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(2,474	)	$	306,767		$	(476,949	)	$	481,245		$	(350,225	)	$	(1,471,079	)	$	(4,969	)
Net realized gain (loss) on investments		(143,434	)		6,157,600			(818,332	)		(321,970	)		(7,015,281	)		8,606,437			(2,329	)
Change in net unrealized appreciation (depreciation) on investments		1,786,904			1,848,242			7,766,026			1,078,132			8,932,900			34,900,079			138,285

Net increase (decrease) in net assets resulting from operations		1,640,996			8,312,609			6,470,745			1,237,407			1,567,394			42,035,437			130,987

CONTRACT TRANSACTIONS:
Contract owners' net payments		14,851			240,788			1,913,710			962,849			349,706			5,922,871			921
Contract maintenance charges		(138,208	)		(1,074,665	)		(486,414	)		(339,650	)		(1,053,023	)		(1,822,271	)		(10,548	)
Contract owners' benefits		(991,949	)		(8,705,810	)		(4,914,228	)		(3,159,904	)		(10,224,958	)		(16,703,891	)		(68,746	)
Net transfers (to) from the Company and/or Subaccounts		263,576			2,029,558			5,944,422			1,527,816			41,205,307			48,919,767			(19,106	)

Increase (decrease) in net assets resulting from Contract transactions		(851,730	)		(7,510,129	)		2,457,490			(1,008,889	)		30,277,032			36,316,476			(97,479	)

Total increase (decrease) in net assets		789,266			802,480			8,928,235			228,518			31,844,426			78,351,913			33,508

NET ASSETS:
Beginning of period		9,515,308			80,364,461			37,927,835			26,758,665			68,254,699			75,641,803			646,565

End of period	$	10,304,574		$	81,166,941		$	46,856,070		$	26,987,183		$	100,099,125		$	153,993,716		$	680,073

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

101

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Goldman Sachs VIT International Equity Insights Fund, Service Shares			Goldman Sachs VIT Trend Driven Allocation, Service Shares			Rydex Inverse Government Long Bond Strategy			Guggenheim Long Short Equity Fund			Rydex Commodities Strategy			Guggenheim Multi-Hedge Strategies Fund			Guggenheim Global Managed Futures Strategy Fund

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	398,232		$	19,175		$	(80	)	$	(1,005	)	$	897		$	10,473		$	13,998
Net realized gain (loss) on investments		948,392			(35,694	)		106			2,191			8			8,521			8,257
Change in net unrealized appreciation (depreciation) on investments		3,271,330			840,948			205			12,890			(1,585	)		156			(1,916	)

Net increase (decrease) in net assets resulting from operations		4,617,954			824,429			231			14,076			(680	)		19,150			20,339

CONTRACT TRANSACTIONS:
Contract owners' net payments		60,237			124,644			-			297			200			(331	)		(372	)
Contract maintenance charges		(401,994	)		(108,991	)		(4	)		(164	)		(8	)		(527	)		(799	)
Contract owners' benefits		(3,614,606	)		(554,149	)		-			(64,296	)		(22	)		(142,877	)		(158,476	)
Net transfers (to) from the Company and/or Subaccounts		2,579,287			222,971			(508	)		86,646			650			22,729			4,498

Increase (decrease) in net assets resulting from Contract transactions		(1,377,076	)		(315,525	)		(512	)		22,483			820			(121,006	)		(155,149	)

Total increase (decrease) in net assets		3,240,878			508,904			(281	)		36,559			140			(101,856	)		(134,810	)

NET ASSETS:
Beginning of period		28,014,567			6,039,413			8,043			129,887			9,495			618,806			565,524

End of period	$	31,255,445		$	6,548,317		$	7,762		$	166,446		$	9,635		$	516,950		$	430,714

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

102

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Guggenheim Floating Rate Strategies, Series F			Invesco V.I. Conservative Balanced Fund, Series II			Invesco V.I. Balanced-Risk Allocation Fund Class, Series II			Invesco V.I. Main Street Small Cap Fund, Series II			Invesco V.I. Global Real Estate Fund, Series II			Invesco V.I. Government Securities Fund, Series II			Invesco V.I. EQV International Equity Fund, Series II

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	85,386		$	344,388		$	(711,716	)	$	21,791		$	(2,471	)	$	1,061,099		$	(440,242	)
Net realized gain (loss) on investments		22,345			246			(1,046,926	)		(1,252	)		(357,496	)		(1,270,649	)		(164,130	)
Change in net unrealized appreciation (depreciation) on investments		219,633			2,285,253			4,265,061			602,575			374,354			4,266,767			5,275,143

Net increase (decrease) in net assets resulting from operations		327,364			2,629,887			2,506,419			623,114			14,387			4,057,217			4,670,771

CONTRACT TRANSACTIONS:
Contract owners' net payments		35,891			13,704,750			222,596			3,373,366			45,022			724,002			189,299
Contract maintenance charges		(2,399	)		(358,162	)		(888,444	)		(35,104	)		(24,767	)		(1,653,266	)		(482,539	)
Contract owners' benefits		(581,732	)		(603,743	)		(7,673,191	)		(23,286	)		(419,949	)		(13,948,848	)		(5,981,709	)
Net transfers (to) from the Company and/or Subaccounts		53,381			8,919,891			623,359			1,604,523			7,163,782			5,725,172			25,903,250

Increase (decrease) in net assets resulting from Contract transactions		(494,859	)		21,662,736			(7,715,680	)		4,919,499			6,764,088			(9,152,940	)		19,628,301

Total increase (decrease) in net assets		(167,495	)		24,292,623			(5,209,261	)		5,542,613			6,778,475			(5,095,723	)		24,299,072

NET ASSETS:
Beginning of period		3,413,876			11,947,753			55,653,246			667,070			2,650,172			122,686,164			27,252,946

End of period	$	3,246,381		$	36,240,376		$	50,443,985		$	6,209,683		$	9,428,647		$	117,590,441		$	51,552,018

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

103

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Main Street Mid Cap Fund, Series II			Invesco V.I. Small Cap Equity Fund, Series II			Invesco V.I. American Franchise Fund, Series I			Invesco V.I. Comstock Fund, Series I			Invesco V.I. Growth and Income Fund, Series I			Invesco V.I. American Franchise Fund, Series II			Invesco V.I. Comstock Fund, Series II

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(88	)	$	(133,395	)	$	(60,782	)	$	124,154		$	81,520		$	(24,901	)	$	582,955
Net realized gain (loss) on investments		2,483			25,902			200,338			3,471,434			3,178,192			114,508			16,358,391
Change in net unrealized appreciation (depreciation) on investments		3,505			1,703,587			1,604,830			(1,347,663	)		(724,988	)		709,682			(5,020,634	)

Net increase (decrease) in net assets resulting from operations		5,900			1,596,094			1,744,386			2,247,925			2,534,724			799,289			11,920,712

CONTRACT TRANSACTIONS:
Contract owners' net payments		119,347			273,609			22			350,740			214,328			2,062			1,422,009
Contract maintenance charges		(16	)		(101,002	)		(1,039	)		(4,724	)		(4,791	)		(10,088	)		(1,263,500	)
Contract owners' benefits		-			(1,434,529	)		(537,849	)		(3,080,466	)		(2,840,414	)		(460,147	)		(17,350,749	)
Net transfers (to) from the Company and/or Subaccounts		(36,622	)		5,050,298			38,208			(66,020	)		(261,213	)		(61,849	)		3,125,891

Increase (decrease) in net assets resulting from Contract transactions		82,709			3,788,376			(500,658	)		(2,800,470	)		(2,892,090	)		(530,022	)		(14,066,349	)

Total increase (decrease) in net assets		88,609			5,384,470			1,243,728			(552,545	)		(357,366	)		269,267			(2,145,637	)

NET ASSETS:
Beginning of period		-			11,147,265			4,652,111			22,481,972			24,604,855			2,274,950			142,635,220

End of period	$	88,609		$	16,531,735		$	5,895,839		$	21,929,427		$	24,247,489		$	2,544,217		$	140,489,583

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

104

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Equity and Income Fund, Series II			Invesco V.I. Growth and Income Fund, Series II			Invesco V.I. American Value Fund, Series II			Protective Life Dynamic Allocation Series Growth Portfolio			Protective Life Dynamic Allocation Series Moderate Portfolio			Protective Life Dynamic Allocation Series Conservative Portfolio			Janus Henderson VIT Balanced Portfolio, Service Shares

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	536,410		$	(211,776	)	$	(382,574	)	$	301,813		$	6,284,026		$	350,586		$	30,537
Net realized gain (loss) on investments		3,172,102			20,601,669			12,539,949			3,617,559			417,440			639,341			2,569
Change in net unrealized appreciation (depreciation) on investments		5,641,662			442,912			(4,681,991	)		3,587,363			70,020,972			2,925,237			339,355

Net increase (decrease) in net assets resulting from operations		9,350,174			20,832,805			7,475,384			7,506,735			76,722,438			3,915,164			372,461

CONTRACT TRANSACTIONS:
Contract owners' net payments		6,707,968			2,350,801			208,706			20,668			34,432,536			671,182			3,308,314
Contract maintenance charges		(1,912,764	)		(5,011,833	)		(846,384	)		(250,295	)		(13,211,298	)		(678,578	)		(38,377	)
Contract owners' benefits		(19,564,916	)		(47,094,996	)		(7,876,145	)		(7,261,741	)		(24,438,126	)		(4,070,827	)		(71,649	)
Net transfers (to) from the Company and/or Subaccounts		65,480,113			138,909,032			(2,091,841	)		(2,123,543	)		33,584,204			1,967,772			1,119,267

Increase (decrease) in net assets resulting from Contract transactions		50,710,401			89,153,004			(10,605,664	)		(9,614,911	)		30,367,316			(2,110,451	)		4,317,555

Total increase (decrease) in net assets		60,060,575			109,985,809			(3,130,280	)		(2,108,176	)		107,089,754			1,804,713			4,690,016

NET ASSETS:
Beginning of period		130,536,279			330,787,483			75,694,398			48,109,680			585,407,193			39,579,003			764,726

End of period	$	190,596,854		$	440,773,292		$	72,564,118		$	46,001,504		$	692,496,947		$	41,383,716		$	5,454,742

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

105

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Janus Henderson Global Sustainable Equity Fund			Janus Henderson Overseas Fund, Class S			Janus Henderson Forty Fund, Class S			Janus Henderson VIT Global Technology and Innovation Portfolio, Service Shares			Lord Abbett Series Fund Growth and Income Portfolio			Lord Abbett Series Fund Mid Cap Stock Portfolio			Lord Abbett Series Fund Bond Debenture Portfolio

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	12		$	2,038		$	(5,713	)	$	(5,509	)	$	(79,358	)	$	(219,890	)	$	19,095,180
Net realized gain (loss) on investments		5			892			1,471			1,961			1,851,611			1,317,684			(5,966,635	)
Change in net unrealized appreciation (depreciation) on investments		907			27,543			188,672			175,143			4,390,588			4,244,812			11,774,372

Net increase (decrease) in net assets resulting from operations		924			30,473			184,430			171,595			6,162,841			5,342,606			24,902,917

CONTRACT TRANSACTIONS:
Contract owners' net payments		-			622,198			945,940			887,666			450,909			303,173			15,824,503
Contract maintenance charges		(15	)		(4,481	)		(6,720	)		(5,749	)		(318,617	)		(269,876	)		(6,509,045	)
Contract owners' benefits		-			2			(1,480	)		(1,492	)		(6,529,783	)		(4,558,718	)		(51,578,591	)
Net transfers (to) from the Company and/or Subaccounts		10,346			67,349			240,767			86,740			(170,189	)		3,630,205			15,912,033

Increase (decrease) in net assets resulting from Contract transactions		10,331			685,068			1,178,507			967,165			(6,567,680	)		(895,216	)		(26,351,100	)

Total increase (decrease) in net assets		11,255			715,541			1,362,937			1,138,760			(404,839	)		4,447,390			(1,448,183	)

NET ASSETS:
Beginning of period		-			36,060			62,888			35,277			56,411,029			41,275,178			478,615,618

End of period	$	11,255		$	751,601		$	1,425,825		$	1,174,037		$	56,006,190		$	45,722,568		$	477,167,435

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

106

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Lord Abbett Series Fund Growth Opportunities Portfolio			Lord Abbett Series Fund Fundamental Equity Portfolio			Lord Abbett Series Fund Inc. Dividend Growth Portfolio			Lord Abbett Series Fund Short Duration Income Portfolio			ClearBridge Variable Dividend Strategy Portfolio, Class II			ClearBridge Variable Small Cap Growth Portfolio, Class II			ClearBridge Variable Mid Cap Portfolio, Class II

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(349,924	)	$	(590,270	)	$	(139,539	)	$	202,751		$	3,880		$	(168,700	)	$	(378,185	)
Net realized gain (loss) on investments		(2,593,570	)		(754,911	)		5,519,138			443			50,257			(1,426,191	)		(2,670,876	)
Change in net unrealized appreciation (depreciation) on investments		3,860,723			10,226,806			7,778,618			(40,851	)		(11,304	)		1,117,628			3,829,733

Net increase (decrease) in net assets resulting from operations		917,229			8,881,625			13,158,217			162,343			42,833			(477,263	)		780,672

CONTRACT TRANSACTIONS:
Contract owners' net payments		377,097			367,628			1,118,718			1,686,947			61,507			381,244			354,582
Contract maintenance charges		(425,235	)		(1,808,042	)		(1,132,305	)		(29,922	)		(2,354	)		(163,108	)		(438,508	)
Contract owners' benefits		(4,383,351	)		(15,834,981	)		(12,180,526	)		(83,663	)		(203,073	)		(2,097,386	)		(4,305,222	)
Net transfers (to) from the Company and/or Subaccounts		33,394,066			66,128,270			8,952,728			1,307,908			271,839			7,832,538			26,457,281

Increase (decrease) in net assets resulting from Contract transactions		28,962,577			48,852,875			(3,241,385	)		2,881,270			127,919			5,953,288			22,068,133

Total increase (decrease) in net assets		29,879,806			57,734,500			9,916,832			3,043,613			170,752			5,476,025			22,848,805

NET ASSETS:
Beginning of period		24,782,228			83,754,002			92,723,229			2,179,187			202,919			12,106,374			24,484,579

End of period	$	54,662,034		$	141,488,502		$	102,640,061		$	5,222,800		$	373,671		$	17,582,399		$	47,333,384

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

107

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Western Asset Core Plus VIT Portfolio, Class II			MFS Growth Series, Initial Class			MFS Research Series, Initial Class			MFS Investors Trust Series, Initial Class			MFS Total Return Series, Initial Class			MFS Utilities Series, Initial Class			MFS New Discovery Series, Initial Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	90,895		$	(71,557	)	$	(37,813	)	$	(31,570	)	$	112,740		$	38,526		$	(27,031	)
Net realized gain (loss) on investments		(2,123	)		423,381			253,549			485,397			822,702			108,882			268
Change in net unrealized appreciation (depreciation) on investments		100,789			1,205,796			658,785			354,326			311,808			(200,671	)		258,155

Net increase (decrease) in net assets resulting from operations		189,561			1,557,620			874,521			808,153			1,247,250			(53,263	)		231,392

CONTRACT TRANSACTIONS:
Contract owners' net payments		200,159			12,230			29,855			171,316			114,988			3,722			2,374
Contract maintenance charges		(46,771	)		(1,846	)		(1,694	)		(1,464	)		(3,791	)		(439	)		(632	)
Contract owners' benefits		(94,139	)		(505,554	)		(293,442	)		(1,086,585	)		(2,299,385	)		(175,167	)		(118,229	)
Net transfers (to) from the Company and/or Subaccounts		340,624			(152,532	)		(31,184	)		(39,397	)		(26,744	)		148,152			547

Increase (decrease) in net assets resulting from Contract transactions		399,873			(647,702	)		(296,465	)		(956,130	)		(2,214,932	)		(23,732	)		(115,940	)

Total increase (decrease) in net assets		589,434			909,918			578,056			(147,977	)		(967,682	)		(76,995	)		115,452

NET ASSETS:
Beginning of period		3,470,890			4,822,610			4,367,874			5,140,855			15,228,810			1,761,049			1,858,327

End of period	$	4,060,324		$	5,732,528		$	4,945,930		$	4,992,878		$	14,261,128		$	1,684,054		$	1,973,779

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

108

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	MFS Massachusetts Investors Growth Stock Portfolio, Initial Class			MFS Emerging Markets Equity Portfolio, Service Class			MFS International Intrinsic Value Portfolio, Service Class			MFS Core Equity Portfolio, Service Class			MFS International Growth Portfolio, Service Class			MFS Massachusetts Investors Growth Stock Portfolio, Service Class			MFS Growth Series, Service Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(16,713	)	$	674		$	(72,136	)	$	(100	)	$	(165	)	$	(249,899	)	$	(403,125	)
Net realized gain (loss) on investments		99,227			(67	)		2,102,190			6			971			1,770,479			3,441,491
Change in net unrealized appreciation (depreciation) on investments		248,904			21,168			493,941			6,077			9,842			4,624,381			8,702,457

Net increase (decrease) in net assets resulting from operations		331,418			21,775			2,523,995			5,983			10,648			6,144,961			11,740,823

CONTRACT TRANSACTIONS:
Contract owners' net payments		29,279			-			455,377			227,192			387,218			260,973			774,187
Contract maintenance charges		(457	)		(556	)		(24,799	)		(40	)		(155	)		(387,406	)		(278,587	)
Contract owners' benefits		(235,839	)		(27,022	)		(2,196,527	)		-			-			(3,590,417	)		(5,257,077	)
Net transfers (to) from the Company and/or Subaccounts		46,396			(5,251	)		(820,233	)		-			(68,944	)		(1,568,616	)		(3,285,206	)

Increase (decrease) in net assets resulting from Contract transactions		(160,621	)		(32,829	)		(2,586,182	)		227,152			318,119			(5,285,466	)		(8,046,683	)

Total increase (decrease) in net assets		170,797			(11,054	)		(62,187	)		233,135			328,767			859,495			3,694,140

NET ASSETS:
Beginning of period		1,528,320			238,325			16,508,463			-			-			29,345,726			37,099,289

End of period	$	1,699,117		$	227,271		$	16,446,276		$	233,135		$	328,767		$	30,205,221		$	40,793,429

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

109

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	MFS Research Series, Service Class			MFS Investors Trust Series, Service Class			MFS Total Return Series, Service Class			MFS Utilities Series, Service Class			MFS Total Return Bond Series, Service Class			MFS New Discovery Series, Service Class			MFS Mid Cap Growth Series, Service Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(24,012	)	$	(264,510	)	$	321,238		$	401,343		$	5,642,629		$	(501,128	)	$	(13	)
Net realized gain (loss) on investments		207,117			2,755,799			2,004,937			1,365,779			(3,065,544	)		25,940			-
Change in net unrealized appreciation (depreciation) on investments		406,453			4,104,080			1,096,484			(2,418,793	)		14,592,668			6,124,947			823

Net increase (decrease) in net assets resulting from operations		589,558			6,595,369			3,422,659			(651,671	)		17,169,753			5,649,759			810

CONTRACT TRANSACTIONS:
Contract owners' net payments		3,353			257,912			331,663			153,425			1,172,228			152,684			24,951
Contract maintenance charges		(21,380	)		(373,995	)		(279,090	)		(186,896	)		(3,763,488	)		(539,820	)		-
Contract owners' benefits		(269,918	)		(5,693,150	)		(5,568,335	)		(2,320,660	)		(35,384,994	)		(5,279,560	)		-
Net transfers (to) from the Company and/or Subaccounts		(82,509	)		(1,054,462	)		214,048			1,057,277			9,747,859			867,279			1

Increase (decrease) in net assets resulting from Contract transactions		(370,454	)		(6,863,695	)		(5,301,714	)		(1,296,854	)		(28,228,395	)		(4,799,417	)		24,952

Total increase (decrease) in net assets		219,104			(268,326	)		(1,879,055	)		(1,948,525	)		(11,058,642	)		850,342			25,762

NET ASSETS:
Beginning of period		3,011,390			41,339,829			41,300,321			19,638,246			303,873,461			45,049,401			-

End of period	$	3,230,494		$	41,071,503		$	39,421,266		$	17,689,721		$	292,814,819		$	45,899,743		$	25,762

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

110

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	MFS Value Series, Service Class			MFS Global Real Estate Portfolio, Service Class			MFS Mid Cap Value Portfolio, Service Class			Morgan Stanley VIF Global Strategist Portfolio			Morgan Stanley VIF Core Plus Fixed Income Portfolio			Morgan Stanley VIF Global Real Estate Portfolio, Class II			Invesco V.I. Global Strategic Income Fund

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	474,049		$	(144	)	$	(11	)	$	99		$	154		$	31,521		$	(69,395	)
Net realized gain (loss) on investments		13,614,860			8			-			46			(249	)		(52,556	)		(90,229	)
Change in net unrealized appreciation (depreciation) on investments		(5,329,830	)		14,273			834			13,923			686			445,872			527,775

Net increase (decrease) in net assets resulting from operations		8,759,079			14,137			823			14,068			591			424,837			368,151

CONTRACT TRANSACTIONS:
Contract owners' net payments		698,347			-			15,000			139,917			41,807			8,207			129,796
Contract maintenance charges		(1,370,233	)		(45	)		-			(1,196	)		(356	)		(70,107	)		(1,754	)
Contract owners' benefits		(17,367,966	)		-			-			-			-			(643,647	)		(616,530	)
Net transfers (to) from the Company and/or Subaccounts		2,007,702			127,490			-			28,331			(81,319	)		345,169			304,167

Increase (decrease) in net assets resulting from Contract transactions		(16,032,150	)		127,445			15,000			167,052			(39,868	)		(360,378	)		(184,321	)

Total increase (decrease) in net assets		(7,273,071	)		141,582			15,823			181,120			(39,277	)		64,459			183,830

NET ASSETS:
Beginning of period		150,061,030			-			-			17,123			39,277			5,022,511			4,963,285

End of period	$	142,787,959		$	141,582		$	15,823		$	198,243		$	-		$	5,086,970		$	5,147,115

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

111

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Global Strategic Income Fund, Series II			Invesco V.I. Global Fund, Series I			Invesco V.I. Global Fund, Series II			Invesco V.I. Capital Appreciation Fund, Series I			Invesco V.I. Capital Appreciation Fund, Series II			Invesco V.I. Discovery Mid Cap Growth Fund, Series II			Invesco V.I. Discovery Mid Cap Growth Fund, Series I

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(2,305,560	)	$	(68,767	)	$	(2,481,168	)	$	(92,896	)	$	(428,449	)	$	(270,076	)	$	(43,263	)
Net realized gain (loss) on investments		(9,292,846	)		950,981			33,349,103			96,462			1,189,553			(336,781	)		11,828
Change in net unrealized appreciation (depreciation) on investments		26,840,386			1,078,334			28,036,642			2,003,425			12,048,538			2,993,872			378,395

Net increase (decrease) in net assets resulting from operations		15,241,980			1,960,548			58,904,577			2,006,991			12,809,642			2,387,015			346,960

CONTRACT TRANSACTIONS:
Contract owners' net payments		595,001			20,158			746,213			51,046			125,044			391,306			2,738
Contract maintenance charges		(3,007,889	)		(1,339	)		(2,836,498	)		(2,320	)		(561,192	)		(248,798	)		(918	)
Contract owners' benefits		(25,426,577	)		(738,492	)		(27,494,862	)		(767,579	)		(5,161,441	)		(3,001,868	)		(275,332	)
Net transfers (to) from the Company and/or Subaccounts		(2,328,442	)		(236,657	)		49,455,122			(83,579	)		22,807,848			7,099,870			58,244

Increase (decrease) in net assets resulting from Contract transactions		(30,167,907	)		(956,330	)		19,869,975			(802,432	)		17,210,259			4,240,510			(215,268	)

Total increase (decrease) in net assets		(14,925,927	)		1,004,218			78,774,552			1,204,559			30,019,901			6,627,525			131,692

NET ASSETS:
Beginning of period		223,227,513			6,365,531			161,988,138			6,361,491			23,130,193			22,743,748			3,094,065

End of period	$	208,301,586		$	7,369,749		$	240,762,690		$	7,566,050		$	53,150,094		$	29,371,273		$	3,225,757

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

112

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Invesco V.I. Main Street Fund, Series II			Invesco V.I. Main Street Fund, Series I			Invesco V.I. U.S. Government Money Portfolio, Series I			PIMCO Commodity RealReturn Strategy Portfolio, Advisor Class			PIMCO Total Return Portfolio, Advisor Class			PIMCO Real Return Portfolio, Advisor Class			PIMCO All Asset Portfolio

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(436,987	)	$	(28,704	)	$	23,159,806		$	873		$	14,156,107		$	4,039,282		$	78,303
Net realized gain (loss) on investments		8,141,412			546,579			-			9			(11,118,521	)		(3,626,324	)		(265,694	)
Change in net unrealized appreciation (depreciation) on investments		10,151,311			765,903			-			(1,372	)		23,941,306			4,931,408			197,653

Net increase (decrease) in net assets resulting from operations		17,855,736			1,283,778			23,159,806			(490	)		26,978,892			5,344,366			10,262

CONTRACT TRANSACTIONS:
Contract owners' net payments		341,680			17,493			5,200,622			-			10,023,345			1,531,812			9,619
Contract maintenance charges		(1,331,746	)		(1,889	)		(9,665,303	)		(40	)		(8,178,513	)		(3,364,164	)		(52,520	)
Contract owners' benefits		(10,940,044	)		(985,143	)		(126,064,958	)		(318	)		(69,900,431	)		(26,944,733	)		(537,821	)
Net transfers (to) from the Company and/or Subaccounts		9,643,273			(8,647	)		(1,386,142,507	)		-			24,129,412			4,842,487			3,392,547


Increase (decrease) in net assets resulting from Contract transactions		(2,286,837	)		(978,186	)		(1,516,672,146	)		(358	)		(43,926,187	)		(23,934,598	)		2,811,825

Total increase (decrease) in net assets		15,568,899			305,592			(1,493,512,340	)		(848	)		(16,947,295	)		(18,590,232	)		2,822,087

NET ASSETS:
Beginning of period		82,439,874			6,389,831			1,752,409,029			6,048			606,615,702			235,467,480			2,183,135

End of period	$	98,008,773		$	6,695,423		$	258,896,689		$	5,200		$	589,668,407		$	216,877,248		$	5,005,222

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

113

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	PIMCO High Yield Portfolio, Advisor Class			PIMCO Low Duration Portfolio, Advisor Class			PIMCO Short-Term Portfolio, Advisor Class			PIMCO Long-Term U.S. Government Portfolio, Advisor Class			PIMCO Global Diversified Allocation Portfolio			PIMCO Income Portfolio			Royce Capital Fund Small Cap Portfolio, Service Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	16,425		$	3,061,501		$	2,433,360		$	225,911		$	97,128		$	33,204		$	(515,369	)
Net realized gain (loss) on investments		(1,963	)		(1,019,635	)		(33,953	)		(847,679	)		(98,745	)		(3,578	)		3,754,486
Change in net unrealized appreciation (depreciation) on investments		20,059			2,497,718			964,217			1,252,528			576,668			21,973			19,341,622

Net increase (decrease) in net assets resulting from operations		34,521			4,539,584			3,363,624			630,760			575,051			51,599			22,580,739

CONTRACT TRANSACTIONS:
Contract owners' net payments		167,805			1,418,777			5,185,759			40,958			64,705			31,963			355,885
Contract maintenance charges		(3,939	)		(1,746,062	)		(1,005,549	)		(270,460	)		(89,168	)		(2,709	)		(1,791,007	)
Contract owners' benefits		(103,639	)		(14,400,196	)		(8,832,798	)		(2,063,587	)		(783,601	)		(56,745	)		(15,402,051	)
Net transfers (to) from the Company and/or Subaccounts		139,039			2,065,626			6,597,398			721,197			596,582			282,646			(2,251,527	)


Increase (decrease) in net assets resulting from Contract transactions		199,266			(12,661,855	)		1,944,810			(1,571,892	)		(211,482	)		255,155			(19,088,700	)

Total increase (decrease) in net assets		233,787			(8,122,271	)		5,308,434			(941,132	)		363,569			306,754			3,492,039

NET ASSETS:
Beginning of period		185,630			126,468,578			69,195,395			20,469,753			4,890,874			613,370			137,804,806

End of period	$	419,417		$	118,346,307		$	74,503,829		$	19,528,621		$	5,254,443		$	920,124		$	141,296,845

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

114

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Royce Capital Fund Micro Cap Portfolio, Service Class			T. Rowe Price All-Cap Opportunities Portfolio			T. Rowe Price Moderate Allocation Portfolio			T. Rowe Price Mid-Cap Growth Portfolio, Class II			T. Rowe Price Blue Chip Growth Portfolio, Class II			T. Rowe Price Health Sciences Portfolio, Class II			Vanguard VIF Money Market Portfolio

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(132,003	)	$	(3,717	)	$	76,633		$	(268	)	$	(122,579	)	$	(40,517	)	$	79,741
Net realized gain (loss) on investments		(684,798	)		89,144			21,193			14,273			123,792			245,440			22
Change in net unrealized appreciation (depreciation) on investments		1,794,721			145,476			445,161			1,973			5,022,854			19,279			-

Net increase (decrease) in net assets resulting from operations		977,920			230,903			542,987			15,978			5,024,067			224,202			79,763

CONTRACT TRANSACTIONS:
Contract owners' net payments		53,436			425,974			6,019,517			246,543			13,643,466			3,103,903			695,778
Contract maintenance charges		(157,551	)		(5,183	)		(52,259	)		(323	)		(172,889	)		(46,916	)		(3,912	)
Contract owners' benefits		(1,618,017	)		(5,942	)		(85,726	)		-			(490,340	)		(119,269	)		(152,123	)
Net transfers (to) from the Company and/or Subaccounts		7,201,644			196,895			1,395,307			(5,060	)		4,716,191			2,031,031			(839,101	)


Increase (decrease) in net assets resulting from Contract transactions		5,479,512			611,744			7,276,839			241,160			17,696,428			4,968,749			(299,358	)

Total increase (decrease) in net assets		6,457,432			842,647			7,819,826			257,138			22,720,495			5,192,951			(219,595	)

NET ASSETS:
Beginning of period		8,004,242			503,131			350,720			-			5,117,300			2,399,662			1,869,930

End of period	$	14,461,674		$	1,345,778		$	8,170,546		$	257,138		$	27,837,795		$	7,592,613		$	1,650,335

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

115

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Vanguard VIF Balanced Portfolio			Vanguard VIF Equity Index Portfolio			Vanguard VIF Equity Income Portfolio			Vanguard VIF Growth Portfolio			Vanguard VIF International Portfolio			Vanguard VIF Total Bond Market Index Portfolio			Vanguard VIF High Yield Bond Portfolio

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	15,364		$	19,850		$	17,811		$	(656	)	$	11,122		$	47,221		$	8,823
Net realized gain (loss) on investments		34,853			63,823			5,191			17,198			32,818			(7,101	)		33
Change in net unrealized appreciation (depreciation) on investments		73,037			335,617			34,216			431,213			68,428			73,776			11,529

Net increase (decrease) in net assets resulting from operations		123,254			419,290			57,218			447,755			112,368			113,896			20,385

CONTRACT TRANSACTIONS:
Contract owners' net payments		45,019			540,282			13,223			405,871			194,884			996,403			-
Contract maintenance charges		(5,638	)		(1,502	)		(4,865	)		(5,133	)		(1,722	)		(4,235	)		(1,305	)
Contract owners' benefits		(5,328	)		(54,753	)		(31,017	)		(72,955	)		(51,303	)		(59,438	)		(1,456	)
Net transfers (to) from the Company and/or Subaccounts		52,294			(55,085	)		(8,999	)		(141,795	)		(12,082	)		(95,799	)		14,388

Increase (decrease) in net assets resulting from Contract transactions		86,347			428,942			(31,658	)		185,988			129,777			836,931			11,627

Total increase (decrease) in net assets		209,601			848,232			25,560			633,743			242,145			950,827			32,012

NET ASSETS:
Beginning of period		808,005			1,361,777			753,476			936,138			700,897			1,700,553			172,533

End of period	$	1,017,606		$	2,210,009		$	779,036		$	1,569,881		$	943,042		$	2,651,380		$	204,545

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

116

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Vanguard VIF Short-Term Investment-Grade Portfolio			Vanguard VIF Capital Growth Portfolio			Vanguard VIF Diversified Value Portfolio			Vanguard VIF Total Stock Market Index Portfolio			Vanguard VIF Mid-Cap Index Portfolio			Vanguard VIF Real Estate Index Portfolio			Vanguard VIF Conservative Allocation Portfolio

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	30,746		$	2,693		$	1,380		$	17,610		$	11,092		$	8,838		$	20,240
Net realized gain (loss) on investments		691			26,107			8,507			120,049			18,025			19,748			33,991
Change in net unrealized appreciation (depreciation) on investments		87,620			48,010			39,642			381,516			119,732			20,199			105,119

Net increase (decrease) in net assets resulting from operations		119,057			76,810			49,529			519,175			148,849			48,785			159,350

CONTRACT TRANSACTIONS:
Contract owners' net payments		190,930			54,023			192,694			495,127			226,420			146,150			173,944
Contract maintenance charges		(3,239	)		(2,436	)		(1,353	)		(9,284	)		(2,407	)		(916	)		(2,189	)
Contract owners' benefits		(15,191	)		(40,694	)		-			(48,219	)		(21,493	)		(30,499	)		(41,377	)
Net transfers (to) from the Company and/or Subaccounts		460,267			(80,581	)		40,544			6,297			6,176			20,200			5,230

Increase (decrease) in net assets resulting from Contract transactions		632,767			(69,688	)		231,885			443,921			208,696			134,935			135,608

Total increase (decrease) in net assets		751,824			7,122			281,414			963,096			357,545			183,720			294,958

NET ASSETS:
Beginning of period		1,578,995			249,278			67,241			1,873,142			834,101			330,955			1,198,324

End of period	$	2,330,819		$	256,400		$	348,655		$	2,836,238		$	1,191,646		$	514,675		$	1,493,282

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

117

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2023

	SUBACCOUNTS
	Vanguard VIF Moderate Allocation Portfolio			Vanguard VIF Total International Stock Market Index Portfolio			Vanguard VIF Global Bond Index Portfolio			VanEck VIP Global Resources Fund, Class I

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	12,222		$	32,017		$	3,525		$	2,139
Net realized gain (loss) on investments		22,603			18,181			356			16,522
Change in net unrealized appreciation (depreciation) on investments		65,245			131,865			11,748			(31,492	)

Net increase (decrease) in net assets resulting from operations		100,070			182,063			15,629			(12,831	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		10,572			126,160			31,618			-
Contract maintenance charges		(4,577	)		(5,244	)		(488	)		(10	)
Contract owners' benefits		(1,464	)		(82,057	)		(933	)		-
Net transfers (to) from the Company and/or Subaccounts		(1,172	)		60,585			11,660			(19,179	)

Increase (decrease) in net assets resulting from Contract transactions		3,359			99,444			41,857			(19,189	)

Total increase (decrease) in net assets		103,429			281,507			57,486			(32,020	)

NET ASSETS:
Beginning of period		660,053			1,150,771			214,578			235,724

End of period	$	763,482		$	1,432,278		$	272,064		$	203,704

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

118

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	AB VPS Relative Value Portfolio, Class B			AB VPS Large Cap Growth Portfolio, Class B			AB VPS Small Cap Growth Portfolio, Class B			AB VPS Discovery Value Portfolio, Class B			American Century Investments VP Balanced Fund, Class I			American Funds IS Asset Allocation Fund, Class 2			American Funds IS Asset Allocation Fund, Class 4

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	583		$	(31,298	)	$	(1,460	)	$	(592	)	$	302		$	839,694		$	184,835
Net realized gain (loss) on investments		50,921			514,456			49,106			14,166			1			10,173,508			3,193,986
Change in net unrealized appreciation (depreciation) on investments		(80,548	)		(1,265,759	)		(95,183	)		(47,500	)		(2,702	)		(24,889,228	)		(9,126,300	)

Net increase (decrease) in net assets resulting from operations		(29,044	)		(782,601	)		(47,537	)		(33,926	)		(2,399	)		(13,876,026	)		(5,747,479	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		429,839			5,718,267			231,150			353,082			60,000			4,801,806			1,536,941
Contract maintenance charges		(1,250	)		(42,864	)		(300	)		(1,054	)		(10	)		(690,756	)		(125,825	)
Contract owners' benefits		(14,016	)		(95,440	)		(2,113	)		(8,667	)		-			(7,948,466	)		(4,813,216	)
Net transfers (to) from the Company and/or Subaccounts		211,916			1,802,969			8,170			(156,119	)		13,240			(1,588,157	)		1,231,564

Increase (decrease) in net assets resulting from Contract transactions		626,489			7,382,932			236,907			187,242			73,230			(5,425,573	)		(2,170,536	)

Total increase (decrease) in net assets		597,445			6,600,331			189,370			153,316			70,831			(19,301,599	)		(7,918,015	)

NET ASSETS:
Beginning of period		147,093			857,383			109,864			358,438			-			100,497,786			38,781,534

End of period	$	744,538		$	7,457,714		$	299,234		$	511,754		$	70,831		$	81,196,187		$	30,863,519

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

119

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	American Funds IS Capital Income Builder, Class 2			American Funds IS Capital Income Builder, Class 4			American Funds IS Capital World Growth and Income Fund, Class 2			American Funds IS Capital World Growth and Income Fund, Class 4			American Funds IS Capital World Bond Fund, Class 2			American Funds IS Global Growth Fund, Class 2			American Funds IS Global Growth Fund, Class 4

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	143,659		$	96,365		$	99,316		$	35,131		$	(1,375	)	$	(132,467	)	$	(106,751	)
Net realized gain (loss) on investments		(3,681	)		27,692			1,371,284			659,047			5,177			10,173,091			1,628,618
Change in net unrealized appreciation (depreciation) on investments		(704,280	)		(758,610	)		(2,768,576	)		(1,336,039	)		(45,481	)		(37,370,280	)		(6,340,068	)

Net increase (decrease) in net assets resulting from operations		(564,302	)		(634,553	)		(1,297,976	)		(641,861	)		(41,679	)		(27,329,656	)		(4,818,201	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		561,133			393,116			262,117			185,334			434,341			7,046,333			1,492,084
Contract maintenance charges		(29,948	)		(43,652	)		(24,999	)		(4,703	)		(1,441	)		(1,164,601	)		(111,182	)
Contract owners' benefits		(127,205	)		(893,943	)		(234,272	)		(284,285	)		(525	)		(5,387,275	)		(1,273,610	)
Net transfers (to) from the Company and/or Subaccounts		424,985			279,929			295,239			(68,375	)		72,116			12,067,867			547,503

Increase (decrease) in net assets resulting from Contract transactions		828,965			(264,550	)		298,085			(172,029	)		504,491			12,562,324			654,795

Total increase (decrease) in net assets		264,663			(899,103	)		(999,891	)		(813,890	)		462,812			(14,767,332	)		(4,163,406	)

NET ASSETS:
Beginning of period		6,985,112			7,376,781			7,142,617			3,790,731			-			105,372,611			18,614,386

End of period	$	7,249,775		$	6,477,678		$	6,142,726		$	2,976,841		$	462,812		$	90,605,279		$	14,450,980

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

120

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	American Funds IS Global Small Capitalization Fund, Class 2			American Funds IS Global Small Capitalization Fund, Class 4			American Funds IS Growth-Income Fund, Class 2			American Funds IS Growth-Income Fund, Class 4			American Funds IS Growth Fund, Class 2			American Funds IS Growth Fund, Class 4			American Funds IS American High-Income Trust, Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(50,755	)	$	(3,382	)	$	99,210		$	1,910		$	(222,070	)	$	(446,977	)	$	36,810
Net realized gain (loss) on investments		2,163,195			72,395			1,486,412			1,416,929			7,073,800			5,569,378			54
Change in net unrealized appreciation (depreciation) on investments		(4,447,626	)		(153,023	)		(4,210,770	)		(4,856,400	)		(25,234,154	)		(24,998,021	)		(56,298	)

Net increase (decrease) in net assets resulting from operations		(2,335,186	)		(84,010	)		(2,625,148	)		(3,437,561	)		(18,382,424	)		(19,875,620	)		(19,434	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		870,258			202,500			3,689,013			990,209			10,324,967			2,268,395			401,620
Contract maintenance charges		(30,697	)		(211	)		(72,177	)		(21,782	)		(283,359	)		(90,142	)		(1,730	)
Contract owners' benefits		(364,859	)		(13,596	)		(759,987	)		(2,299,538	)		(2,298,161	)		(7,172,492	)		-
Net transfers (to) from the Company and/or Subaccounts		1,107,180			4,873			1,955,082			1,049,237			6,685,088			(4,399,968	)		129,359

Increase (decrease) in net assets resulting from Contract transactions		1,581,882			193,566			4,811,931			(281,874	)		14,428,535			(9,394,207	)		529,249

Total increase (decrease) in net assets		(753,304	)		109,556			2,186,783			(3,719,435	)		(3,953,889	)		(29,269,827	)		509,815

NET ASSETS:
Beginning of period		7,235,881			282,901			14,196,282			18,344,309			54,975,326			67,203,591			25,000

End of period	$	6,482,577		$	392,457		$	16,383,065		$	14,624,874		$	51,021,437		$	37,933,764		$	534,815

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

121

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	American Funds IS International Fund, Class 2			American Funds IS International Fund, Class 4			American Funds IS International Growth and Income Fund, Class 2			American Funds IS New World Fund, Class 2			American Funds IS New World Fund, Class 4			American Funds IS The Bond Fund of America, Class 2			American Funds IS The Bond Fund of America, Class 4

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	91,434		$	2,783		$	22,631		$	48,997		$	336		$	732,934		$	142,467
Net realized gain (loss) on investments		1,280,019			48,798			180,249			789,372			27,705			229,341			20,238
Change in net unrealized appreciation (depreciation) on investments		(3,716,544	)		(136,743	)		(178,574	)		(3,175,546	)		(108,772	)		(4,045,402	)		(1,421,432	)

Net increase (decrease) in net assets resulting from operations		(2,345,091	)		(85,162	)		24,306			(2,337,177	)		(80,731	)		(3,083,127	)		(1,258,727	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		611,226			202,500			790,495			741,915			98,743			14,939,675			1,684,885
Contract maintenance charges		(40,231	)		(258	)		(1,871	)		(42,156	)		(278	)		(192,768	)		(52,753	)
Contract owners' benefits		(387,227	)		(7,262	)		-			(480,283	)		(50,566	)		(1,167,677	)		(509,432	)
Net transfers (to) from the Company and/or Subaccounts		895,695			5,408			89,542			947,908			8,200			3,602,344			471,390

Increase (decrease) in net assets resulting from Contract transactions		1,079,463			200,388			878,166			1,167,384			56,099			17,181,574			1,594,090

Total increase (decrease) in net assets		(1,265,628	)		115,226			902,472			(1,169,793	)		(24,632	)		14,098,447			335,363

NET ASSETS:
Beginning of period		10,507,932			419,633			10,108			9,953,932			361,907			18,659,846			8,142,758

End of period	$	9,242,304		$	534,859		$	912,580		$	8,784,139		$	337,275		$	32,758,293		$	8,478,121

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

122

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	American Funds IS U.S. Government Securities Fund, Class 2			American Funds IS U.S. Government Securities Fund, Class 4			American Funds IS Washington Mutual Investors Fund, Class 2			American Funds IS Washington Mutual Investors Fund, Class 4			BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III			BlackRock Global Allocation V.I. Fund, Class III			BlackRock International V.I. Fund, Class I

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	104,026		$	98,651		$	432,426		$	15,324		$	43,153		$	(49,724	)	$	2,118
Net realized gain (loss) on investments		(25,455	)		(130,266	)		8,643,004			667,628			(37,062	)		90,969			4,402
Change in net unrealized appreciation (depreciation) on investments		(507,729	)		(540,915	)		(12,730,483	)		(1,001,355	)		(189,600	)		(637,162	)		(33,748	)

Net increase (decrease) in net assets resulting from operations		(429,158	)		(572,530	)		(3,655,053	)		(318,403	)		(183,509	)		(595,917	)		(27,228	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		247,799			278,433			4,435,898			726,088			1,868,626			9,941,886			320,030
Contract maintenance charges		(17,036	)		(34,343	)		(194,320	)		(19,678	)		(8,256	)		(81,206	)		(823	)
Contract owners' benefits		(239,840	)		(272,238	)		(1,866,505	)		(148,152	)		(72,095	)		(85,177	)		-
Net transfers (to) from the Company and/or Subaccounts		98,229			(425,033	)		(451,516	)		(495,500	)		752,605			2,492,563			37,788

Increase (decrease) in net assets resulting from Contract transactions		89,152			(453,181	)		1,923,557			62,758			2,540,880			12,268,066			356,995

Total increase (decrease) in net assets		(340,006	)		(1,025,711	)		(1,731,496	)		(255,645	)		2,357,371			11,672,149			329,767

NET ASSETS:
Beginning of period		3,644,079			5,067,778			39,892,796			3,296,869			629,119			862,025			75,000

End of period	$	3,304,073		$	4,042,067		$	38,161,300		$	3,041,224		$	2,986,490		$	12,534,174		$	404,767

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

123

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Calvert VP SRI Balanced Portfolio			ClearBridge Variable Dividend Strategy Portfolio, Class II			ClearBridge Variable Large Cap Growth Portfolio, Class II			ClearBridge Variable Mid Cap Portfolio, Class II			ClearBridge Variable Small Cap Growth Portfolio, Class II			Columbia VP Balanced Fund, Class 2			Columbia VP Emerging Markets Bond Fund, Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(3,935	)	$	1,177		$	(1,517	)	$	(302,552	)	$	(139,330	)	$	(16,412	)	$	2,896
Net realized gain (loss) on investments		129,145			15,885			8,904			7,390,091			319,358			(16,537	)		2
Change in net unrealized appreciation (depreciation) on investments		(377,005	)		(22,552	)		(52,324	)		(19,285,182	)		(5,944,995	)		(256,388	)		(3,360	)

Net increase (decrease) in net assets resulting from operations		(251,795	)		(5,490	)		(44,937	)		(12,197,643	)		(5,764,967	)		(289,337	)		(462	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		188			2,615			77,990			1,047,136			325,403			992,910			96,914
Contract maintenance charges		(476	)		(802	)		(531	)		(272,773	)		(114,015	)		(14,818	)		(249	)
Contract owners' benefits		(245,776	)		(19,139	)		(599	)		(2,991,912	)		(1,078,818	)		(5,756	)		-
Net transfers (to) from the Company and/or Subaccounts		(18,472	)		180,935			(16,092	)		(27,643,667	)		(2,039,250	)		(566,697	)		9,453

Increase (decrease) in net assets resulting from Contract transactions		(264,536	)		163,609			60,768			(29,861,216	)		(2,906,680	)		405,639			106,118

Total increase (decrease) in net assets		(516,331	)		158,119			15,831			(42,058,859	)		(8,671,647	)		116,302			105,656

NET ASSETS:
Beginning of period		1,595,034			44,800			130,980			66,543,438			20,778,021			1,552,048			-

End of period	$	1,078,703		$	202,919		$	146,811		$	24,484,579		$	12,106,374		$	1,668,350		$	105,656

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

124

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Columbia VP Intermediate Bond Fund, Class 2			Columbia VP Limited Duration Credit Fund, Class 2			Columbia VP Select Mid Cap Value Fund, Class 2			Columbia VP Strategic Income Fund, Class 2			Dimensional VA Equity Allocation Portfolio, Institutional			Dimensional VA Global Bond Portfolio			Dimensional VA Global Moderate Allocation Portfolio, Institutional

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	15,018		$	(794	)	$	(2,578	)	$	48,807		$	1,928		$	11,014		$	6,236
Net realized gain (loss) on investments		(1,828	)		(1,009	)		(1,896	)		106,805			2,935			24			6,030
Change in net unrealized appreciation (depreciation) on investments		(122,256	)		(4,186	)		(13,169	)		(345,496	)		(10,140	)		(59,850	)		(65,474	)

Net increase (decrease) in net assets resulting from operations		(109,066	)		(5,989	)		(17,643	)		(189,884	)		(5,277	)		(48,812	)		(53,208	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		412,893			154,137			352,170			4,446,990			-			200,802			187,870
Contract maintenance charges		(5,639	)		(469	)		(1,338	)		(37,317	)		(9	)		(699	)		(2,154	)
Contract owners' benefits		(10,843	)		(20,971	)		(2,504	)		(71,830	)		-			(12,734	)		-
Net transfers (to) from the Company and/or Subaccounts		246,262			114,936			182,141			1,337,384			88,519			(17,340	)		(698	)

Increase (decrease) in net assets resulting from Contract transactions		642,673			247,633			530,469			5,675,227			88,510			170,029			185,018

Total increase (decrease) in net assets		533,607			241,644			512,826			5,485,343			83,233			121,217			131,810

NET ASSETS:
Beginning of period		356,557			17,459			82,810			389,254			24,741			696,047			368,969

End of period	$	890,164		$	259,103		$	595,636		$	5,874,597		$	107,974		$	817,264		$	500,779

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

125

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Dimensional VA International Small Portfolio			Dimensional VA International Value Portfolio			Dimensional VA Short-Term Fixed Portfolio			Dimensional VA US Large Value Portfolio			Dimensional VA US Targeted Value Portfolio			Fidelity VIP Contrafund Portfolio, Service Class 2			Fidelity VIP Equity-Income Portfolio, Service Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	16,298		$	36,772		$	7,663		$	47,597		$	13,105		$	(1,411,382	)	$	32,303
Net realized gain (loss) on investments		12,085			10,833			(40	)		28,037			95,188			37,161,087			253,705
Change in net unrealized appreciation (depreciation) on investments		(98,172	)		(49,321	)		(15,311	)		(139,181	)		(136,462	)		(108,422,291	)		(674,672	)

Net increase (decrease) in net assets resulting from operations		(69,789	)		(1,716	)		(7,688	)		(63,547	)		(28,169	)		(72,672,586	)		(388,664	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		323,656			594,542			523,526			1,094,577			631,479			2,490,394			20,923
Contract maintenance charges		(648	)		(1,276	)		(2,210	)		(1,948	)		(1,731	)		(1,456,136	)		(45,878	)
Contract owners' benefits		(10,304	)		(12,602	)		(13,156	)		(42,429	)		(17,225	)		(16,944,964	)		(693,560	)
Net transfers (to) from the Company and/or Subaccounts		33,745			(6,597	)		(45,237	)		(88,431	)		(11,173	)		(123,824,628	)		(206,836	)

Increase (decrease) in net assets resulting from Contract transactions		346,449			574,067			462,923			961,769			601,350			(139,735,334	)		(925,351	)

Total increase (decrease) in net assets		276,660			572,351			455,235			898,222			573,181			(212,407,920	)		(1,314,015	)

NET ASSETS:
Beginning of period		395,249			443,507			444,697			1,471,857			702,542			356,344,074			6,467,528

End of period	$	671,909		$	1,015,858		$	899,932		$	2,370,079		$	1,275,723		$	143,936,154		$	5,153,513

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

126

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Fidelity VIP Freedom Funds 2015 Portfolio, Service Class 2			Fidelity VIP Freedom Funds 2020 Portfolio, Service Class 2			Fidelity VIP Growth Portfolio, Service Class 2			Fidelity VIP Index 500 Portfolio, Service Class 2			Fidelity VIP Investment Grade Bond Portfolio, Service Class 2			Fidelity VIP Mid Cap Portfolio, Service Class 2			Fidelity VIP Asset Manager Growth Portfolio, Service Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	9,648		$	23,545		$	(20,503	)	$	284,997		$	2,862,595		$	(1,155,979	)	$	1,103
Net realized gain (loss) on investments		95,051			236,511			137,543			124,353,473			11,364,313			24,322,583			(2	)
Change in net unrealized appreciation (depreciation) on investments		(317,393	)		(713,428	)		(1,039,159	)		(269,192,918	)		(55,745,620	)		(62,154,405	)		(3,016	)

Net increase (decrease) in net assets resulting from operations		(212,694	)		(453,372	)		(922,119	)		(144,554,448	)		(41,518,712	)		(38,987,801	)		(1,915	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		997			802			1,732			10,282,043			11,879,134			2,410,863			9,694
Contract maintenance charges		(7,816	)		(12,000	)		(13,493	)		(2,814,450	)		(3,429,207	)		(1,283,448	)		(148	)
Contract owners' benefits		(223,261	)		(32,516	)		(255,667	)		(40,930,143	)		(25,155,842	)		(15,407,120	)		-
Net transfers (to) from the Company and/or Subaccounts		8,949			8,262			(97,987	)		(463,712,730	)		6,941,908			(107,693,903	)		67,985

Increase (decrease) in net assets resulting from Contract transactions		(221,131	)		(35,452	)		(365,415	)		(497,175,280	)		(9,764,007	)		(121,973,608	)		77,531

Total increase (decrease) in net assets		(433,825	)		(488,824	)		(1,287,534	)		(641,729,728	)		(51,282,719	)		(160,961,409	)		75,616

NET ASSETS:
Beginning of period		1,373,922			2,728,629			3,651,576			890,425,389			297,518,836			298,884,658			-

End of period	$	940,097		$	2,239,805		$	2,364,042		$	248,695,661		$	246,236,117		$	137,923,249		$	75,616

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

127

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Fidelity VIP Asset Manager Portfolio, Service Class 2			Fidelity VIP Balanced Portfolio, Service Class 2			Fidelity VIP Bond Index Portfolio			Fidelity VIP Energy Portfolio, Service Class 2			Fidelity VIP Extended Market Index Portfolio, Service Class 2			Fidelity VIP FundsManager 20% Portfolio, Service Class 2			Fidelity VIP FundsManager 60% Portfolio, Service Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	1,270		$	60,191		$	4,064		$	15,889		$	461		$	12,722		$	(24	)
Net realized gain (loss) on investments		(1,241	)		128,899			369			(37,132	)		824			37,987			(858	)
Change in net unrealized appreciation (depreciation) on investments		(12,415	)		(1,646,632	)		(27,204	)		301,551			(4,370	)		(134,716	)		-

Net increase (decrease) in net assets resulting from operations		(12,386	)		(1,457,542	)		(22,771	)		280,308			(3,085	)		(84,007	)		(882	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		25,577			12,953,467			379,138			433,833			30,876			250,646			10,904
Contract maintenance charges		(1,031	)		(116,246	)		(1,192	)		(599	)		(112	)		(5,273	)		(16	)
Contract owners' benefits		-			(291,379	)		(16,001	)		(18,583	)		-			(12,878	)		-
Net transfers (to) from the Company and/or Subaccounts		25,901			1,553,965			126,476			513,438			25,044			304,180			(10,006	)

Increase (decrease) in net assets resulting from Contract transactions		50,447			14,099,807			488,421			928,089			55,808			536,675			882

Total increase (decrease) in net assets		38,061			12,642,265			465,650			1,208,397			52,723			452,668			-

NET ASSETS:
Beginning of period		77,269			4,440,851			17,461			293,586			-			561,805			-

End of period	$	115,330		$	17,083,116		$	483,111		$	1,501,983		$	52,723		$	1,014,473		$	-

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

128

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Fidelity VIP FundsManager 85% Portfolio, Service Class 2			Fidelity VIP Health Care Portfolio, Service Class 2			Fidelity VIP International Index Portfolio, Service Class 2			Fidelity VIP Target Volatility Portfolio, Service Class 2			Fidelity VIP Technology Portfolio, Initial Class			Fidelity VIP Total Market Index Portfolio			Fidelity VIP Utilities Portfolio, Initial Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	3,595		$	(3,786	)	$	3,305		$	1,073		$	(712	)	$	10,754		$	687
Net realized gain (loss) on investments		1,428			12,759			2,612			460			1,340			(7,428	)		1,960
Change in net unrealized appreciation (depreciation) on investments		17,226			(21,925	)		(20,344	)		(12,821	)		(29,725	)		(138,448	)		(1,049	)

Net increase (decrease) in net assets resulting from operations		22,249			(12,952	)		(14,427	)		(11,288	)		(29,097	)		(135,122	)		1,598

CONTRACT TRANSACTIONS:
Contract owners' net payments		94,605			368,724			143,972			40,000			132,993			275,861			25,616
Contract maintenance charges		(101	)		(1,639	)		(711	)		(823	)		(482	)		(2,612	)		(99	)
Contract owners' benefits		-			(12,951	)		-			(637	)		(18,925	)		(664	)		(1,235	)
Net transfers (to) from the Company and/or Subaccounts		430,584			421,629			86,867			250			82,374			1,285,769			41,598

Increase (decrease) in net assets resulting from Contract transactions		525,088			775,763			230,128			38,790			195,960			1,558,354			65,880

Total increase (decrease) in net assets		547,337			762,811			215,701			27,502			166,863			1,423,232			67,478

NET ASSETS:
Beginning of period		-			196,819			-			61,576			-			-			-

End of period	$	547,337		$	959,630		$	215,701		$	89,078		$	166,863		$	1,423,232		$	67,478

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

129

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Fidelity VIP Value Strategies Portfolio, Service Class 2			Franklin DynaTech VIP Fund			Franklin Income VIP Fund, Class 2			Franklin Multi-Asset Dynamic Multi-Strategy VIT, Class 2			Franklin Mutual Global Discovery VIP Fund, Class 2			Franklin Mutual Shares VIP Fund, Class 2			Franklin Rising Dividends VIP Fund, Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	3,062		$	(241,977	)	$	4,563,461		$	(150,475	)	$	16,629		$	2,067,218		$	(911,564	)
Net realized gain (loss) on investments		24,129			15,446,109			8,206,820			833,428			304,634			69,094,544			53,623,520
Change in net unrealized appreciation (depreciation) on investments		(32,052	)		(31,126,431	)		(23,647,979	)		(3,270,345	)		(557,948	)		(114,873,856	)		(101,290,611	)

Net increase (decrease) in net assets resulting from operations		(4,861	)		(15,922,299	)		(10,877,698	)		(2,587,392	)		(236,685	)		(43,712,094	)		(48,578,655	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		522,238			3,432,129			2,011,823			1,723			42,871			2,157,634			9,046,783
Contract maintenance charges		(962	)		(154,318	)		(1,235,486	)		(192,422	)		(9,376	)		(4,371,878	)		(2,233,087	)
Contract owners' benefits		(33,060	)		(1,886,362	)		(15,287,439	)		(1,214,144	)		(499,570	)		(39,663,123	)		(24,142,793	)
Net transfers (to) from the Company and/or Subaccounts		86,119			(12,659,434	)		(56,622,514	)		(15,316,843	)		(10,227	)		(152,992,750	)		(20,248,488	)

Increase (decrease) in net assets resulting from Contract transactions		574,335			(11,267,985	)		(71,133,616	)		(16,721,686	)		(476,302	)		(194,870,117	)		(37,577,585	)

Total increase (decrease) in net assets		569,474			(27,190,284	)		(82,011,314	)		(19,309,078	)		(712,987	)		(238,582,211	)		(86,156,240	)

NET ASSETS:
Beginning of period		-			50,142,133			185,424,503			19,309,078			3,994,115			593,134,137			368,753,687

End of period	$	569,474		$	22,951,849		$	103,413,189		$	-		$	3,281,128		$	354,551,926		$	282,597,447

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

130

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Franklin Small Cap Value VIP Fund, Class 2			Franklin Small-Mid Cap Growth VIP Fund, Class 2			Franklin Strategic Income VIP Fund, Class 2			Franklin U.S. Government Securities VIP Fund, Class 2			Goldman Sachs VIT Trend Driven Allocation, Service Shares			Goldman Sachs VIT International Equity Insights Fund, Institutional Shares			Goldman Sachs VIT International Equity Insights Fund, Service Shares

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(68,387	)	$	(250,665	)	$	199,193		$	4,993,854		$	(89,625	)	$	387,558		$	589,874
Net realized gain (loss) on investments		8,107,312			6,509,052			(16,356	)		(5,535,266	)		159,692			(441,276	)		(33,075	)
Change in net unrealized appreciation (depreciation) on investments		(12,984,817	)		(18,234,913	)		(954,415	)		(42,521,374	)		(1,563,595	)		(3,107,640	)		(5,648,954	)

Net increase (decrease) in net assets resulting from operations		(4,945,892	)		(11,976,526	)		(771,578	)		(43,062,786	)		(1,493,528	)		(3,161,358	)		(5,092,155	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		908,286			675,729			451,103			2,178,127			139,327			145,072			180,057
Contract maintenance charges		(329,729	)		(161,281	)		(16,497	)		(4,748,146	)		(100,339	)		(76,825	)		(370,993	)
Contract owners' benefits		(3,084,701	)		(2,016,885	)		(370,457	)		(38,565,317	)		(674,027	)		(2,283,493	)		(3,080,808	)
Net transfers (to) from the Company and/or Subaccounts		(8,618,497	)		(4,046,067	)		(50,159	)		(2,235,683	)		877,191			378,830			(401,784	)

Increase (decrease) in net assets resulting from Contract transactions		(11,124,641	)		(5,548,504	)		13,990			(43,371,019	)		242,152			(1,836,416	)		(3,673,528	)

Total increase (decrease) in net assets		(16,070,533	)		(17,525,030	)		(757,588	)		(86,433,805	)		(1,251,376	)		(4,997,774	)		(8,765,683	)

NET ASSETS:
Beginning of period		48,019,869			38,855,304			6,664,565			419,387,022			7,290,789			22,272,378			36,780,250

End of period	$	31,949,336		$	21,330,274		$	5,906,977		$	332,953,217		$	6,039,413		$	17,274,604		$	28,014,567

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

131

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Goldman Sachs VIT Large Cap Value Fund, Institutional Shares			Goldman Sachs VIT Large Cap Value Fund, Service Shares			Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares			Goldman Sachs VIT Mid Cap Value Fund, Service Shares			Goldman Sachs VIT Small Cap Equity Insights Fund, Institutional Shares			Goldman Sachs VIT Small Cap Equity Insights Fund, Service Shares			Goldman Sachs VIT Strategic Growth Fund, Institutional Shares

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	51,193		$	(17,567	)	$	(17,322	)	$	(592,372	)	$	(171,027	)	$	(76,856	)	$	(333,505	)
Net realized gain (loss) on investments		2,921,912			7,806,106			763,965			15,597,231			(129,585	)		(25,535	)		4,112,287
Change in net unrealized appreciation (depreciation) on investments		(5,796,942	)		(15,969,468	)		(1,535,958	)		(34,582,052	)		(4,328,789	)		(2,452,146	)		(16,451,257	)

Net increase (decrease) in net assets resulting from operations		(2,823,837	)		(8,180,929	)		(789,315	)		(19,577,193	)		(4,629,401	)		(2,554,537	)		(12,672,475	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		269,344			317,558			12,819			425,991			192,059			37,836			245,657
Contract maintenance charges		(47,144	)		(1,129,444	)		(7,797	)		(917,465	)		(33,431	)		(144,123	)		(40,758	)
Contract owners' benefits		(3,642,762	)		(8,987,775	)		(374,970	)		(8,362,752	)		(2,174,033	)		(1,050,130	)		(2,859,493	)
Net transfers (to) from the Company and/or Subaccounts		(753,046	)		(9,599,528	)		(411,214	)		(47,323,236	)		(23,769	)		418,985			489,181

Increase (decrease) in net assets resulting from Contract transactions		(4,173,608	)		(19,399,189	)		(781,162	)		(56,177,462	)		(2,039,174	)		(737,432	)		(2,165,413	)

Total increase (decrease) in net assets		(6,997,445	)		(27,580,118	)		(1,570,477	)		(75,754,655	)		(6,668,575	)		(3,291,969	)		(14,837,888	)

NET ASSETS:
Beginning of period		38,615,526			107,944,579			7,163,131			144,009,354			23,602,945			12,807,277			39,127,156

End of period	$	31,618,081		$	80,364,461		$	5,592,654		$	68,254,699		$	16,934,370		$	9,515,308		$	24,289,268

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

132

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Goldman Sachs VIT Strategic Growth Fund, Service Shares			Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Shares			Goldman Sachs VIT U.S. Equity Insights Fund, Service Shares			Goldman Sachs VIT Core Fixed Income Fund, Service Shares			Goldman Sachs VIT Mid Cap Growth Fund, Service Shares			Guggenheim Floating Rate Strategies, Series F			Guggenheim Global Managed Futures Strategy Fund

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(1,025,842	)	$	(142,404	)	$	(4,640	)	$	130,367		$	(463,664	)	$	55,470		$	11,726
Net realized gain (loss) on investments		28,197,267			(377,173	)		(3,043	)		(277,135	)		859,736			(31,369	)		(5,885	)
Change in net unrealized appreciation (depreciation) on investments		(74,021,860	)		(5,937,553	)		(169,827	)		(4,829,571	)		(15,168,524	)		(117,165	)		18,043

Net increase (decrease) in net assets resulting from operations		(46,850,435	)		(6,457,130	)		(177,510	)		(4,976,339	)		(14,772,452	)		(93,064	)		23,884

CONTRACT TRANSACTIONS:
Contract owners' net payments		976,269			141,846			1,009			632,374			477,157			37,833			6,541
Contract maintenance charges		(943,589	)		(13,792	)		(10,689	)		(413,835	)		(429,627	)		(2,767	)		(564	)
Contract owners' benefits		(9,110,724	)		(3,237,890	)		(36,946	)		(2,152,270	)		(4,079,799	)		(939,015	)		(32,668	)
Net transfers (to) from the Company and/or Subaccounts		(66,409,872	)		(462,567	)		(1,607	)		736,385			(1,073,636	)		742,069			189,977

Increase (decrease) in net assets resulting from Contract transactions		(75,487,916	)		(3,572,403	)		(48,233	)		(1,197,346	)		(5,105,905	)		(161,880	)		163,286

Total increase (decrease) in net assets		(122,338,351	)		(10,029,533	)		(225,743	)		(6,173,685	)		(19,878,357	)		(254,944	)		187,170

NET ASSETS:
Beginning of period		197,980,154			32,336,845			872,308			32,932,350			57,806,192			3,668,820			378,354

End of period	$	75,641,803		$	22,307,312		$	646,565		$	26,758,665		$	37,927,835		$	3,413,876		$	565,524

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

133

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Guggenheim Long Short Equity Fund			Guggenheim Multi-Hedge Strategies Fund			Invesco V.I. American Franchise Fund, Series I			Invesco V.I. American Franchise Fund, Series II			Invesco V.I. American Value Fund, Series II			Invesco V.I. Balanced-Risk Allocation Fund Class, Series II			Invesco V.I. Capital Appreciation Fund, Series I

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(758	)	$	1,455		$	(63,124	)	$	(28,867	)	$	(377,947	)	$	3,656,577		$	(104,282	)
Net realized gain (loss) on investments		1,439			7,843			1,406,892			745,744			17,045,871			1,658,304			2,579,024
Change in net unrealized appreciation (depreciation) on investments		(24,363	)		(39,850	)		(3,618,306	)		(1,843,658	)		(21,896,145	)		(16,116,428	)		(5,672,932	)

Net increase (decrease) in net assets resulting from operations		(23,682	)		(30,552	)		(2,274,538	)		(1,126,781	)		(5,228,221	)		(10,801,547	)		(3,198,190	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		5,753			15,699			25,006			5,482			837,101			76,455			27,073
Contract maintenance charges		(188	)		(641	)		(1,156	)		(10,370	)		(839,140	)		(919,346	)		(2,444	)
Contract owners' benefits		(32,183	)		(111,500	)		(505,166	)		(236,472	)		(6,749,777	)		(7,417,086	)		(869,959	)
Net transfers (to) from the Company and/or Subaccounts		12,122			33,545			16,149			137,357			(6,278,907	)		2,752,079			(48,930	)

Increase (decrease) in net assets resulting from Contract transactions		(14,496	)		(62,897	)		(465,167	)		(104,003	)		(13,030,723	)		(5,507,898	)		(894,260	)

Total increase (decrease) in net assets		(38,178	)		(93,449	)		(2,739,705	)		(1,230,784	)		(18,258,944	)		(16,309,445	)		(4,092,450	)

NET ASSETS:
Beginning of period		168,065			712,255			7,391,816			3,505,734			93,953,342			71,962,691			10,453,941

End of period	$	129,887		$	618,806		$	4,652,111		$	2,274,950		$	75,694,398		$	55,653,246		$	6,361,491

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

134

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Invesco V.I. Capital Appreciation Fund, Series II			Invesco V.I. Comstock Fund, Series I			Invesco V.I. Comstock Fund, Series II			Invesco V.I. Conservative Balanced Fund, Series II			Invesco V.I. Discovery Mid Cap Growth Fund, Series I			Invesco V.I. Discovery Mid Cap Growth Fund, Series II			Invesco V.I. Equity and Income Fund, Series II

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(276,032	)	$	88,171		$	171,066		$	69,812		$	(48,855	)	$	(267,205	)	$	224,831
Net realized gain (loss) on investments		15,705,670			1,925,747			17,983,801			721,508			905,585			8,824,096			33,933,501
Change in net unrealized appreciation (depreciation) on investments		(30,461,859	)		(2,083,339	)		(22,012,161	)		(1,432,491	)		(2,376,783	)		(20,080,143	)		(52,130,350	)

Net increase (decrease) in net assets resulting from operations		(15,032,221	)		(69,421	)		(3,857,294	)		(641,171	)		(1,520,053	)		(11,523,252	)		(17,972,018	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		240,045			203,516			1,814,726			9,308,485			30,097			399,014			1,867,191
Contract maintenance charges		(276,968	)		(5,139	)		(1,253,298	)		(78,218	)		(837	)		(215,846	)		(1,457,899	)
Contract owners' benefits		(3,014,859	)		(2,278,306	)		(14,747,487	)		(87,406	)		(421,274	)		(1,961,715	)		(16,381,354	)
Net transfers (to) from the Company and/or Subaccounts		(30,547,868	)		(835,738	)		(14,037,174	)		2,317,171			121,643			(4,064,477	)		(75,296,849	)

Increase (decrease) in net assets resulting from Contract transactions		(33,599,650	)		(2,915,667	)		(28,223,233	)		11,460,032			(270,371	)		(5,843,024	)		(91,268,911	)

Total increase (decrease) in net assets		(48,631,871	)		(2,985,088	)		(32,080,527	)		10,818,861			(1,790,424	)		(17,366,276	)		(109,240,929	)

NET ASSETS:
Beginning of period		71,762,064			25,467,060			174,715,747			1,128,892			4,884,489			40,110,024			239,777,208

End of period	$	23,130,193		$	22,481,972		$	142,635,220		$	11,947,753		$	3,094,065		$	22,743,748		$	130,536,279

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

135

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Invesco V.I. Global Fund, Series I			Invesco V.I. Global Fund, Series II			Invesco V.I. Global Real Estate Fund, Series II			Invesco V.I. Global Strategic Income Fund			Invesco V.I. Global Strategic Income Fund, Series II			Invesco V.I. Government Securities Fund, Series II			Invesco V.I. Growth and Income Fund, Series I

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(89,676	)	$	(1,969,765	)	$	18,966		$	(73,177	)	$	(2,596,036	)	$	1,049,982		$	101,487
Net realized gain (loss) on investments		1,190,130			50,664,690			300,358			(169,577	)		(4,169,129	)		(1,438,425	)		3,035,050
Change in net unrealized appreciation (depreciation) on investments		(4,336,118	)		(130,494,090	)		(3,146,530	)		(547,735	)		(28,256,269	)		(16,423,753	)		(5,128,253	)

Net increase (decrease) in net assets resulting from operations		(3,235,664	)		(81,799,165	)		(2,827,206	)		(790,489	)		(35,021,434	)		(16,812,196	)		(1,991,716	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		15,934			1,526,001			138,375			93,079			1,144,686			1,139,462			75,648
Contract maintenance charges		(1,382	)		(1,735,640	)		(32,464	)		(1,912	)		(3,156,110	)		(1,854,978	)		(5,092	)
Contract owners' benefits		(546,084	)		(18,100,991	)		(681,465	)		(647,376	)		(26,404,556	)		(11,490,337	)		(2,174,453	)
Net transfers (to) from the Company and/or Subaccounts		(17,005	)		(53,461,940	)		(9,127,336	)		(166,378	)		6,229,185			1,086,960			(453,220	)

Increase (decrease) in net assets resulting from Contract transactions		(548,537	)		(71,772,570	)		(9,702,890	)		(722,587	)		(22,186,795	)		(11,118,893	)		(2,557,117	)

Total increase (decrease) in net assets		(3,784,201	)		(153,571,735	)		(12,530,096	)		(1,513,076	)		(57,208,229	)		(27,931,089	)		(4,548,833	)

NET ASSETS:
Beginning of period		10,149,732			315,559,873			15,180,268			6,476,361			280,435,742			150,617,253			29,153,688

End of period	$	6,365,531		$	161,988,138		$	2,650,172		$	4,963,285		$	223,227,513		$	122,686,164		$	24,604,855

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

136

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Invesco V.I. Growth and Income Fund, Series II			Invesco V.I. EQV International Equity Fund, Series II			Invesco V.I. Main Street Fund, Series I			Invesco V.I. Main Street Fund, Series II			Invesco V.I. Main Street Small Cap Fund, Series II			Invesco V.I. Small Cap Equity Fund, Series II			Invesco V.I. U.S. Government Money Portfolio, Series I

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(662,856	)	$	125,869		$	10,994		$	137,285		$	(1,288	)	$	(107,161	)	$	6,837,357
Net realized gain (loss) on investments		91,594,961			2,486,890			2,761,883			36,739,484			74,505			2,841,282			-
Change in net unrealized appreciation (depreciation) on investments		(138,914,882	)		(9,667,366	)		(4,650,763	)		(61,879,772	)		(105,902	)		(6,236,393	)		-

Net increase (decrease) in net assets resulting from operations		(47,982,777	)		(7,054,607	)		(1,877,886	)		(25,003,003	)		(32,685	)		(3,502,272	)		6,837,357

CONTRACT TRANSACTIONS:
Contract owners' net payments		2,085,263			331,299			94,330			402,522			435,073			339,228			4,770,471
Contract maintenance charges		(4,157,942	)		(109,875	)		(1,964	)		(1,267,179	)		(1,574	)		(41,507	)		(23,919,471	)
Contract owners' benefits		(39,761,307	)		(3,433,048	)		(853,981	)		(6,743,134	)		(6,063	)		(1,337,827	)		(253,373,762	)
Net transfers (to) from the Company and/or Subaccounts		(183,609,915	)		(5,062,805	)		(81,820	)		(13,896,021	)		176,115			(2,700,172	)		1,596,373,677

Increase (decrease) in net assets resulting from Contract transactions		(225,443,901	)		(8,274,429	)		(843,435	)		(21,503,812	)		603,551			(3,740,278	)		1,323,850,915

Total increase (decrease) in net assets		(273,426,678	)		(15,329,036	)		(2,721,321	)		(46,506,815	)		570,866			(7,242,550	)		1,330,688,272

NET ASSETS:
Beginning of period		604,214,161			42,581,982			9,111,152			128,946,689			96,204			18,389,815			421,720,757

End of period	$	330,787,483		$	27,252,946		$	6,389,831		$	82,439,874		$	667,070		$	11,147,265		$	1,752,409,029

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

137

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		Janus Henderson VIT Balanced Portfolio, Service Shares			Janus Henderson Forty Fund, Class S			Janus Henderson VIT Global Technology and Innovation Portfolio, Service Shares			Janus Henderson Overseas Fund, Class S			Lord Abbett Series Fund Bond Debenture Portfolio			Lord Abbett Series Fund Inc. Dividend Growth Portfolio			Lord Abbett Series Fund Growth and Income Portfolio

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	1,689		$	(97	)	$	(86	)	$	176		$	16,988,273		$	(90,734	)	$	112,118
Net realized gain (loss) on investments		344			(290	)		(218	)		(584	)		(3,703,366	)		14,752,762			5,019,560
Change in net unrealized appreciation (depreciation) on investments		(5,269	)		(1,172	)		(1,036	)		2,114			(92,847,351	)		(34,428,457	)		(12,483,878	)

Net increase (decrease) in net assets resulting from operations		(3,236	)		(1,559	)		(1,340	)		1,706			(79,562,444	)		(19,766,429	)		(7,352,200	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		341,670			39,790			39,790			37,290			14,617,244			1,550,296			381,730
Contract maintenance charges		(906	)		(195	)		(111	)		(114	)		(6,608,247	)		(1,080,503	)		(337,003	)
Contract owners' benefits		(5,517	)		-			-			-			(50,679,484	)		(7,976,012	)		(5,867,902	)
Net transfers (to) from the Company and/or Subaccounts		432,715			24,852			(3,062	)		(2,822	)		17,039,897			(15,248,314	)		(2,452,511	)

Increase (decrease) in net assets resulting from Contract transactions		767,962			64,447			36,617			34,354			(25,630,590	)		(22,754,533	)		(8,275,686	)

Total increase (decrease) in net assets		764,726			62,888			35,277			36,060			(105,193,034	)		(42,520,962	)		(15,627,886	)

NET ASSETS:
Beginning of period		-			-			-			-			583,808,652			135,244,191			72,038,915

End of period	$	764,726		$	62,888		$	35,277		$	36,060		$	478,615,618		$	92,723,229		$	56,411,029

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

138

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		Lord Abbett Series Fund Growth Opportunities Portfolio			Lord Abbett Series Fund Mid Cap Stock Portfolio			Lord Abbett Series Fund Fundamental Equity Portfolio			Lord Abbett Series Fund Short Duration Income Portfolio			MFS Growth Series, Initial Class			MFS Growth Series, Service Class			MFS Investors Trust Series, Initial Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(272,288	)	$	(86,237	)	$	(216,020	)	$	49,975		$	(77,095	)	$	(423,587	)	$	(39,605	)
Net realized gain (loss) on investments		2,377,293			3,265,721			23,867,953			(25	)		597,993			5,121,017			1,170,280
Change in net unrealized appreciation (depreciation) on investments		(16,198,515	)		(9,947,735	)		(47,804,785	)		(110,552	)		(2,993,560	)		(22,394,727	)		(2,369,658	)

Net increase (decrease) in net assets resulting from operations		(14,093,510	)		(6,768,251	)		(24,152,852	)		(60,602	)		(2,472,662	)		(17,697,297	)		(1,238,983	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		517,359			303,739			584,049			1,125,150			74,132			183,495			32,400
Contract maintenance charges		(220,726	)		(251,233	)		(1,226,555	)		(6,028	)		(1,983	)		(278,779	)		(1,543	)
Contract owners' benefits		(2,853,243	)		(4,239,180	)		(11,856,036	)		(61,284	)		(524,798	)		(4,079,123	)		(917,606	)
Net transfers (to) from the Company and/or Subaccounts		(8,702,079	)		(5,544,903	)		(78,211,444	)		947,204			(47,700	)		4,189,393			(181,794	)

Increase (decrease) in net assets resulting from Contract transactions		(11,258,689	)		(9,731,577	)		(90,709,986	)		2,005,042			(500,349	)		14,986			(1,068,543	)

Total increase (decrease) in net assets		(25,352,199	)		(16,499,828	)		(114,862,838	)		1,944,440			(2,973,011	)		(17,682,311	)		(2,307,526	)

NET ASSETS:
Beginning of period		50,134,427			57,775,006			198,616,840			234,747			7,795,621			54,781,600			7,448,381

End of period	$	24,782,228		$	41,275,178		$	83,754,002		$	2,179,187		$	4,822,610		$	37,099,289		$	5,140,855

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

139

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		MFS Investors Trust Series, Service Class			MFS New Discovery Series, Initial Class			MFS New Discovery Series, Service Class			MFS Research Series, Initial Class			MFS Research Series, Service Class			MFS Total Return Series, Initial Class			MFS Total Return Series, Service Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(334,735	)	$	(30,749	)	$	(536,820	)	$	(42,159	)	$	(27,446	)	$	74,227		$	199,529
Net realized gain (loss) on investments		8,068,804			599,146			17,898,748			759,891			525,870			1,669,885			4,457,063
Change in net unrealized appreciation (depreciation) on investments		(17,377,791	)		(1,484,544	)		(36,069,326	)		(1,815,829	)		(1,210,524	)		(3,776,190	)		(10,219,356	)

Net increase (decrease) in net assets resulting from operations		(9,643,722	)		(916,147	)		(18,707,398	)		(1,098,097	)		(712,100	)		(2,032,078	)		(5,562,764	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		390,580			19,715			189,252			26,095			22,104			188,004			413,410
Contract maintenance charges		(396,437	)		(672	)		(540,077	)		(1,811	)		(22,047	)		(4,019	)		(297,980	)
Contract owners' benefits		(5,283,691	)		(303,906	)		(4,873,788	)		(763,886	)		(352,517	)		(2,153,627	)		(5,116,064	)
Net transfers (to) from the Company and/or Subaccounts		(588,391	)		16,447			11,196,323			(54,835	)		(33,146	)		(54,275	)		(1,181,064	)

Increase (decrease) in net assets resulting from Contract transactions		(5,877,939	)		(268,416	)		5,971,710			(794,437	)		(385,606	)		(2,023,917	)		(6,181,698	)

Total increase (decrease) in net assets		(15,521,661	)		(1,184,563	)		(12,735,688	)		(1,892,534	)		(1,097,706	)		(4,055,995	)		(11,744,462	)

NET ASSETS:
Beginning of period		56,861,490			3,042,890			57,785,089			6,260,408			4,109,096			19,284,805			53,044,783

End of period	$	41,339,829		$	1,858,327		$	45,049,401		$	4,367,874		$	3,011,390		$	15,228,810		$	41,300,321

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

140

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		MFS Utilities Series, Initial Class			MFS Utilities Series, Service Class			MFS Emerging Markets Equity Portfolio, Service Class			MFS International Intrinsic Value Portfolio, Service Class			MFS Massachusetts Investors Growth Stock Portfolio, Initial Class			MFS Massachusetts Investors Growth Stock Portfolio, Service Class			MFS Total Return Bond Series, Service Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	22,098		$	218,451		$	7,766		$	(70,607	)	$	(21,113	)	$	(284,967	)	$	4,850,404
Net realized gain (loss) on investments		122,799			2,085,967			13,024			1,016,186			205,067			4,480,174			1,456,312
Change in net unrealized appreciation (depreciation) on investments		(156,224	)		(2,494,066	)		(83,635	)		(6,446,537	)		(617,402	)		(12,069,069	)		(63,693,576	)

Net increase (decrease) in net assets resulting from operations		(11,327	)		(189,648	)		(62,845	)		(5,500,958	)		(433,448	)		(7,873,862	)		(57,386,860	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		23,099			45,150			10,422			143,908			19,117			131,369			1,667,428
Contract maintenance charges		(449	)		(211,942	)		(524	)		(26,982	)		(488	)		(399,683	)		(3,956,677	)
Contract owners' benefits		(165,245	)		(2,499,802	)		(33,263	)		(2,441,899	)		(214,894	)		(3,145,147	)		(35,108,933	)
Net transfers (to) from the Company and/or Subaccounts		30,842			(2,526,456	)		25,536			1,485,007			9,767			182,387			7,495,813

Increase (decrease) in net assets resulting from Contract transactions		(111,753	)		(5,193,050	)		2,171			(839,966	)		(186,498	)		(3,231,074	)		(29,902,369	)

Total increase (decrease) in net assets		(123,080	)		(5,382,698	)		(60,674	)		(6,340,924	)		(619,946	)		(11,104,936	)		(87,289,229	)

NET ASSETS:
Beginning of period		1,884,129			25,020,944			298,999			22,849,387			2,148,266			40,450,662			391,162,690

End of period	$	1,761,049		$	19,638,246		$	238,325		$	16,508,463		$	1,528,320		$	29,345,726		$	303,873,461

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

141

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		MFS Value Series, Service Class			Morgan Stanley VIF Core Plus Fixed Income Portfolio			Morgan Stanley VIF Global Real Estate Portfolio, Class II			Morgan Stanley VIF Global Strategist Portfolio			PIMCO Income Portfolio			PIMCO All Asset Portfolio			PIMCO Commodity RealReturn Strategy Portfolio, Advisor Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	98,955		$	(37	)	$	172,668		$	(30	)	$	12,983		$	180,161		$	108
Net realized gain (loss) on investments		18,811,480			(1	)		325,295			0			(2,031	)		520,402			0
Change in net unrealized appreciation (depreciation) on investments		(33,122,450	)		(686	)		(2,366,274	)		232			(48,773	)		(1,231,955	)		(153	)

Net increase (decrease) in net assets resulting from operations		(14,212,015	)		(724	)		(1,868,311	)		201			(37,821	)		(531,392	)		(45	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		1,069,097			40,000			28,266			-			348,345			19,261			6,099
Contract maintenance charges		(1,498,230	)		-			(74,620	)		(10	)		(1,486	)		(24,629	)		(5	)
Contract owners' benefits		(17,492,978	)		-			(605,642	)		-			(18,466	)		(537,511	)		-
Net transfers (to) from the Company and/or Subaccounts		(13,861,506	)		1			141,168			16,932			(38,984	)		(4,268,692	)		(1	)

Increase (decrease) in net assets resulting from Contract transactions		(31,783,617	)		40,001			(510,828	)		16,922			289,409			(4,811,571	)		6,093

Total increase (decrease) in net assets		(45,995,632	)		39,277			(2,379,139	)		17,123			251,588			(5,342,963	)		6,048

NET ASSETS:
Beginning of period		196,056,662			-			7,401,650			-			361,782			7,526,098			-

End of period	$	150,061,030		$	39,277		$	5,022,511		$	17,123		$	613,370		$	2,183,135		$	6,048

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

142

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		PIMCO Global Diversified Allocation Portfolio			PIMCO High Yield Portfolio, Advisor Class			PIMCO Long-Term U.S. Government Portfolio, Advisor Class			PIMCO Low Duration Portfolio, Advisor Class			PIMCO Real Return Portfolio, Advisor Class			PIMCO Short-Term Portfolio, Advisor Class			PIMCO Total Return Portfolio, Advisor Class

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	177,075		$	4,936		$	197,421		$	750,544		$	15,232,577		$	308,170		$	9,515,727
Net realized gain (loss) on investments		1,689,408			(10,871	)		(340,634	)		(869,305	)		(1,524,732	)		(13,996	)		(6,990,864	)
Change in net unrealized appreciation (depreciation) on investments		(3,014,321	)		(13,666	)		(8,604,424	)		(9,750,003	)		(50,767,174	)		(1,146,043	)		(117,663,867	)

Net increase (decrease) in net assets resulting from operations		(1,147,838	)		(19,601	)		(8,747,637	)		(9,868,764	)		(37,059,329	)		(851,869	)		(115,139,004	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		980			139,479			324,302			1,464,919			1,530,372			9,355,037			7,274,457
Contract maintenance charges		(78,134	)		(605	)		(303,151	)		(1,897,512	)		(3,547,908	)		(832,208	)		(8,615,856	)
Contract owners' benefits		(891,487	)		(729	)		(2,216,918	)		(11,910,423	)		(26,376,977	)		(7,679,897	)		(65,795,509	)
Net transfers (to) from the Company and/or Subaccounts		377,265			(59,438	)		1,220,412			1,261,239			303,890			2,759,605			21,777,070

Increase (decrease) in net assets resulting from Contract transactions		(591,376	)		78,707			(975,355	)		(11,081,777	)		(28,090,623	)		3,602,537			(45,359,838	)

Total increase (decrease) in net assets		(1,739,214	)		59,106			(9,722,992	)		(20,950,541	)		(65,149,952	)		2,750,668			(160,498,842	)

NET ASSETS:
Beginning of period		6,630,088			126,524			30,192,745			147,419,119			300,617,432			66,444,727			767,114,544

End of period	$	4,890,874		$	185,630		$	20,469,753		$	126,468,578		$	235,467,480		$	69,195,395		$	606,615,702

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

143

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		Protective Life Dynamic Allocation Series Conservative Portfolio			Protective Life Dynamic Allocation Series Growth Portfolio			Protective Life Dynamic Allocation Series Moderate Portfolio			Royce Capital Fund Micro Cap Portfolio, Service Class			Royce Capital Fund Small Cap Portfolio, Service Class			Rydex Commodities Strategy			Rydex Inverse Government Long Bond Strategy

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	15,292		$	30,151		$	1,366,903		$	(107,079	)	$	(966,403	)	$	348		$	(82	)
Net realized gain (loss) on investments		1,101,048			573,994			5,629,846			5,076,173			11,247,014			2,148			668
Change in net unrealized appreciation (depreciation) on investments		(9,292,658	)		(13,405,506	)		(112,430,282	)		(8,438,607	)		(32,845,132	)		245			2,550

Net increase (decrease) in net assets resulting from operations		(8,176,318	)		(12,801,361	)		(105,433,533	)		(3,469,513	)		(22,564,521	)		2,741			3,136

CONTRACT TRANSACTIONS:
Contract owners' net payments		3,894,277			281,647			143,223,518			61,835			535,048			-			-
Contract maintenance charges		(594,754	)		(208,052	)		(10,028,365	)		(93,225	)		(1,081,129	)		(8	)		(4	)
Contract owners' benefits		(5,799,364	)		(7,595,604	)		(23,659,748	)		(1,341,732	)		(10,025,272	)		(25	)		-
Net transfers (to) from the Company and/or Subaccounts		4,201,250			3,697,283			56,433,799			(6,920,215	)		(13,132,712	)		(2,843	)		(2,660	)

Increase (decrease) in net assets resulting from Contract transactions		1,701,409			(3,824,726	)		165,969,204			(8,293,337	)		(23,704,065	)		(2,876	)		(2,664	)

Total increase (decrease) in net assets		(6,474,909	)		(16,626,087	)		60,535,671			(11,762,850	)		(46,268,586	)		(135	)		472

NET ASSETS:
Beginning of period		46,053,912			64,735,767			524,871,522			19,767,092			184,073,392			9,630			7,571

End of period	$	39,579,003		$	48,109,680		$	585,407,193		$	8,004,242		$	137,804,806		$	9,495		$	8,043

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

144

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		T. Rowe Price All-Cap Opportunities Portfolio			T. Rowe Price Blue Chip Growth Portfolio, Class II			T. Rowe Price Health Sciences Portfolio, Class II			T. Rowe Price Moderate Allocation Portfolio			Templeton Developing Markets VIP Fund, Class 2			Templeton Foreign VIP Fund, Class 2			Templeton Global Bond VIP Fund, Class 2

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(2,928	)	$	(37,229	)	$	(15,065	)	$	2,624		$	43,928		$	1,233,429		$	(2,377,352	)
Net realized gain (loss) on investments		31,790			150,696			(25,724	)		6,867			167,655			(319,184	)		(4,778,535	)
Change in net unrealized appreciation (depreciation) on investments		(91,197	)		(1,729,462	)		(71,380	)		(22,289	)		(899,012	)		(7,067,113	)		(6,851,071	)

Net increase (decrease) in net assets resulting from operations		(62,335	)		(1,615,995	)		(112,169	)		(12,798	)		(687,429	)		(6,152,868	)		(14,006,958	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		366,182			3,374,085			1,179,650			284,318			304,454			290,148			1,015,346
Contract maintenance charges		(1,767	)		(22,032	)		(10,484	)		(737	)		(6,555	)		(687,147	)		(2,852,257	)
Contract owners' benefits		(9,965	)		(172,120	)		(58,283	)		(433	)		(355,914	)		(6,502,130	)		(23,285,670	)
Net transfers (to) from the Company and/or Subaccounts		111,016			823,454			383,492			80,370			285,737			9,869,924			(5,375,929	)

Increase (decrease) in net assets resulting from Contract transactions		465,466			4,003,387			1,494,375			363,518			227,722			2,970,795			(30,498,510	)

Total increase (decrease) in net assets		403,131			2,387,392			1,382,206			350,720			(459,707	)		(3,182,073	)		(44,505,468	)

NET ASSETS:
Beginning of period		100,000			2,729,908			1,017,456			-			2,856,931			71,082,595			245,408,411

End of period	$	503,131		$	5,117,300		$	2,399,662		$	350,720		$	2,397,224		$	67,900,522		$	200,902,943

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

145

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		Templeton Growth VIP Fund, Class 2			VanEck VIP Global Resources Fund, Class I			Vanguard VIF Balanced Portfolio			Vanguard VIF Capital Growth Portfolio			Vanguard VIF Conservative Allocation Portfolio			Vanguard VIF Diversified Value Portfolio			Vanguard VIF Equity Income Portfolio

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(721,919	)	$	(337	)	$	11,706		$	1,507		$	4,884		$	(14	)	$	15,539
Net realized gain (loss) on investments		(638,282	)		12,968			69,449			24,879			13,207			7,987			74,621
Change in net unrealized appreciation (depreciation) on investments		(9,868,431	)		5,328			(203,930	)		(68,025	)		(130,644	)		(14,453	)		(96,241	)

Net increase (decrease) in net assets resulting from operations		(11,228,632	)		17,959			(122,775	)		(41,639	)		(112,553	)		(6,480	)		(6,081	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		483,684			-			113,534			134,279			970,005			56,443			141,704
Contract maintenance charges		(765,094	)		(11	)		(4,527	)		(2,124	)		(1,582	)		(228	)		(3,337	)
Contract owners' benefits		(7,885,109	)		-			(5,783	)		-			(1,451	)		-			(1,811	)
Net transfers (to) from the Company and/or Subaccounts		2,615,720			(32,598	)		(4,320	)		(60,294	)		625			(62,807	)		(22,831	)

Increase (decrease) in net assets resulting from Contract transactions		(5,550,799	)		(32,609	)		98,904			71,861			967,597			(6,592	)		113,725

Total increase (decrease) in net assets		(16,779,431	)		(14,650	)		(23,871	)		30,222			855,044			(13,072	)		107,644

NET ASSETS:
Beginning of period		91,729,616			250,374			831,876			219,056			343,280			80,313			645,832

End of period	$	74,950,185		$	235,724		$	808,005		$	249,278		$	1,198,324		$	67,241		$	753,476

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

146

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		Vanguard VIF Equity Index Portfolio			Vanguard VIF Global Bond Index Portfolio			Vanguard VIF Growth Portfolio			Vanguard VIF High Yield Bond Portfolio			Vanguard VIF International Portfolio			Vanguard VIF Mid-Cap Index Portfolio			Vanguard VIF Moderate Allocation Portfolio

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	7,926		$	3,139		$	(2,562	)	$	6,798		$	4,394		$	6,002		$	12,659
Net realized gain (loss) on investments		37,412			638			255,374			1,232			90,818			82,514			26,993
Change in net unrealized appreciation (depreciation) on investments		(221,229	)		(22,199	)		(590,806	)		(21,020	)		(278,416	)		(255,628	)		(159,834	)

Net increase (decrease) in net assets resulting from operations		(175,891	)		(18,422	)		(337,994	)		(12,990	)		(183,204	)		(167,112	)		(120,182	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		645,636			97,840			393,279			32,160			225,552			236,683			116,645
Contract maintenance charges		(943	)		(247	)		(2,463	)		(1,016	)		(845	)		(1,722	)		(2,956	)
Contract owners' benefits		(29,418	)		(959	)		(12,697	)		(1,479	)		(10,190	)		(11,345	)		(1,454	)
Net transfers (to) from the Company and/or Subaccounts		(21,982	)		(11,755	)		128,380			16,717			121,678			(27,196	)		3,870

Increase (decrease) in net assets resulting from Contract transactions		593,293			84,879			506,499			46,382			336,195			196,420			116,105

Total increase (decrease) in net assets		417,402			66,457			168,505			33,392			152,991			29,308			(4,077	)

NET ASSETS:
Beginning of period		944,375			148,121			767,633			139,141			547,906			804,793			664,130

End of period	$	1,361,777		$	214,578		$	936,138		$	172,533		$	700,897		$	834,101		$	660,053

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

147

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
		Vanguard VIF Money Market Portfolio			Vanguard VIF Real Estate Index Portfolio			Vanguard VIF Short-Term Investment-Grade Portfolio			Vanguard VIF Total Bond Market Index Portfolio			Vanguard VIF Total International Stock Market Index Portfolio			Vanguard VIF Total Stock Market Index Portfolio			Western Asset Core Plus VIT Portfolio, Class II

INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	19,684		$	4,411		$	17,379		$	18,257		$	16,375		$	10,951		$	32,064
Net realized gain (loss) on investments		27			11,925			9,422			7,769			19,001			81,531			(6,872	)
Change in net unrealized appreciation (depreciation) on investments		-			(107,527	)		(109,782	)		(198,516	)		(113,043	)		(366,882	)		(560,816	)

Net increase (decrease) in net assets resulting from operations		19,711			(91,191	)		(82,981	)		(172,490	)		(77,667	)		(274,400	)		(535,624	)

CONTRACT TRANSACTIONS:
Contract owners' net payments		1,602,272			104,683			409,529			784,171			674,703			1,028,199			2,022,950
Contract maintenance charges		(3,960	)		(495	)		(1,959	)		(3,244	)		(1,627	)		(4,449	)		(35,464	)
Contract owners' benefits		(114,050	)		(6,989	)		(107,071	)		(38,746	)		(302	)		(44,831	)		(253,076	)
Net transfers (to) from the Company and/or Subaccounts		41,299			37,729			(68,190	)		(4,989	)		9,749			(10,101	)		(15,175	)

Increase (decrease) in net assets resulting from Contract transactions		1,525,561			134,928			232,309			737,192			682,523			968,818			1,719,235

Total increase (decrease) in net assets		1,545,272			43,737			149,328			564,702			604,856			694,418			1,183,611

NET ASSETS:
Beginning of period		324,658			287,218			1,429,667			1,135,851			545,915			1,178,724			2,287,279

End of period	$	1,869,930		$	330,955		$	1,578,995		$	1,700,553		$	1,150,771		$	1,873,142		$	3,470,890

Note: Totals may not appear to foot/crossfoot due to rounding.

(Concluded)

See accompanying notes to financial statements.

148

PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

NOTES TO FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31, 2023

1.  ORGANIZATION

The Protective Variable Annuity Separate Account (the “Separate Account”), a segregated unit investment trust registered under the Investment Company Act of 1940, as amended, was established by Protective Life Insurance Company (“PLICO” or the “Company”) on March 14, 1994, and exists in accordance with the regulations of the Tennessee Department of Commerce and Insurance. The Company is a wholly owned subsidiary of Protective Life Corporation ("PLC"). PLC is a wholly owned subsidiary of Dai-ichi Life International Holding, LLC, a godo kaisha organized under the laws of Japan.

Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the Company’s other assets and liabilities. The portion of the Separate Account's assets applicable to the variable annuity contracts (the “Contracts”) is not chargeable with liabilities arising out of any other business the Company may conduct.

The Separate Account is a funding vehicle for individual variable annuity Contracts; it consists of a number of subaccounts (the “Subaccounts”), also commonly referred to as investment divisions or funds, each of which is treated as an individual accounting entity for financial reporting purposes. The Separate Account's value at any time is allocated among Contract owners based on the number and value of their accumulation units representing their interest in the Separate Account; all of the investible assets of the Separate Account are invested in the corresponding mutual funds.

Contract owners may allocate some or all of the applicable net contributions or transfer some or all of the Contract value to the Company’s guaranteed account, which is not included in these financial statements. The assets of the Company support its insurance and annuity obligations and are subject to the Company's general liabilities from business operations.

Contract owners' net payments are allocated to the Subaccounts in accordance with Contract owner instructions and are recorded as Contract owners’ net payments in the Statements of Changes in Net Assets. Such amounts are used to provide account funds to pay Contract values under the Contracts.

The following is a list of the variable annuity products funded by the Separate Account:

	Dimensions II	Protective Investors Benefit Advisory
	Dimensions III	Protective Investors Series
	Dimensions IV	Protective Investors Series ADV
	Dimensions V	Protective Rewards
	Elements Access	Protective Rewards II
	Elements Classic	Protective Rewards Elite
	Elements Plus	Protective Values
	Mileage Credit	Protective Values Access
	Protective Access	Protective Values Advantage
	Protective Access XL	Protective Variable Annuity
	Protective Advantage	Protective Variable Annuity (2012) B, C, L Series
	Protective Aspirations	Protective Variable Annuity II
	Protective Dimensions	Protective Variable Annuity II B Series

149

For the years or periods ended December 31, 2023 and 2022, the Separate Account was invested in up to 229 Subaccounts, as follows:

	AB VPS Discovery Value Portfolio, Class B
	AB VPS Large Cap Growth Portfolio, Class B
	AB VPS Relative Value Portfolio, Class B
	AB VPS Small Cap Growth Portfolio, Class B
	American Century Investments VP Balanced Fund, Class I (a)
	American Century Investments VP International Fund, Class I (a)
	American Century Investments VP Ultra Fund, Class I
	American Funds IS American High-Income Trust, Class 2
	American Funds IS American High-Income Trust, Class 4 (a)
	American Funds IS Asset Allocation Fund, Class 2
	American Funds IS Asset Allocation Fund, Class 4
	American Funds IS Capital Income Builder, Class 2
	American Funds IS Capital Income Builder, Class 4
	American Funds IS Capital World Bond Fund, Class 2 (a)
	American Funds IS Capital World Bond Fund, Class 4 (a)
	American Funds IS Capital World Growth and Income Fund, Class 2
	American Funds IS Capital World Growth and Income Fund, Class 4
	American Funds IS Global Growth Fund, Class 2
	American Funds IS Global Growth Fund, Class 4
	American Funds IS Global Small Capitalization Fund, Class 2
	American Funds IS Global Small Capitalization Fund, Class 4
	American Funds IS Growth Fund, Class 2
	American Funds IS Growth Fund, Class 4
	American Funds IS Growth-Income Fund, Class 2
	American Funds IS Growth-Income Fund, Class 4
	American Funds IS International Fund, Class 2
	American Funds IS International Fund, Class 4
	American Funds IS International Growth and Income Fund, Class 2
	American Funds IS International Growth and Income Fund, Class 4 (a)
	American Funds IS New World Fund, Class 2
	American Funds IS New World Fund, Class 4
	American Funds IS The Bond Fund of America, Class 2
	American Funds IS The Bond Fund of America, Class 4
	American Funds IS U.S. Government Securities Fund, Class 2
	American Funds IS U.S. Government Securities Fund, Class 4
	American Funds IS Washington Mutual Investors Fund, Class 2
	American Funds IS Washington Mutual Investors Fund, Class 4
	BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III
	BlackRock Advantage SMID Cap V.I. Fund, Class III (a)
	BlackRock Global Allocation V.I. Fund, Class III
	BlackRock International V.I. Fund, Class I
	Calvert VP SRI Balanced Portfolio

150

	ClearBridge Variable Dividend Strategy Portfolio, Class II
	ClearBridge Variable Large Cap Growth Portfolio, Class II
	ClearBridge Variable Mid Cap Portfolio, Class II
	ClearBridge Variable Small Cap Growth Portfolio, Class II
	Columbia VP Balanced Fund, Class 2
	Columbia VP Emerging Markets Bond Fund, Class 2 (a)
	Columbia VP Intermediate Bond Fund, Class 2
	Columbia VP Limited Duration Credit Fund, Class 2
	Columbia VP Select Mid Cap Value Fund, Class 2
	Columbia VP Seligman Global Technology Fund, Class 2 (a)
	Columbia VP Strategic Income Fund, Class 2
	Dimensional VA Equity Allocation Portfolio, Institutional
	Dimensional VA Global Bond Portfolio
	Dimensional VA Global Moderate Allocation Portfolio, Institutional
	Dimensional VA International Small Portfolio
	Dimensional VA International Value Portfolio
	Dimensional VA Short-Term Fixed Portfolio
	Dimensional VA US Large Value Portfolio
	Dimensional VA US Targeted Value Portfolio
	Fidelity VIP Asset Manager Growth Portfolio, Service Class 2 (a)
	Fidelity VIP Asset Manager Portfolio, Service Class 2
	Fidelity VIP Balanced Portfolio, Service Class 2
	Fidelity VIP Bond Index Portfolio
	Fidelity VIP Contrafund Portfolio, Service Class 2
	Fidelity VIP Energy Portfolio, Service Class 2
	Fidelity VIP Equity-Income Portfolio, Service Class 2
	Fidelity VIP Extended Market Index Portfolio, Service Class 2 (a)
	Fidelity VIP Freedom Funds 2015 Portfolio, Service Class 2
	Fidelity VIP Freedom Funds 2020 Portfolio, Service Class 2
	Fidelity VIP FundsManager 20% Portfolio, Service Class 2
	Fidelity VIP FundsManager 60% Portfolio, Service Class 2 (a)
	Fidelity VIP FundsManager 85% Portfolio, Service Class 2 (a)
	Fidelity VIP Growth & Income Portfolio, Service Class 2 (a)
	Fidelity VIP Growth Portfolio, Service Class 2
	Fidelity VIP Health Care Portfolio, Service Class 2
	Fidelity VIP High Income Portfolio, Service Class 2 (a)
	Fidelity VIP Index 500 Portfolio, Service Class 2
	Fidelity VIP International Capital Appreciation Portfolio, Service Class 2 (a)
	Fidelity VIP International Index Portfolio, Service Class 2
	Fidelity VIP Investment Grade Bond Portfolio, Service Class 2
	Fidelity VIP Mid Cap Portfolio, Service Class 2
	Fidelity VIP Strategic Income Portfolio, Service Class 2 (a)
	Fidelity VIP Target Volatility Portfolio, Service Class 2
	Fidelity VIP Technology Portfolio, Initial Class (a)

151

	Fidelity VIP Total Market Index Portfolio (a)
	Fidelity VIP Utilities Portfolio, Initial Class (a)
	Fidelity VIP Value Strategies Portfolio, Service Class 2 (a)
	Franklin DynaTech VIP Fund
	Franklin Income VIP Fund, Class 2
	Franklin Multi-Asset Dynamic Multi-Strategy VIT, Class 2 (a)
	Franklin Mutual Global Discovery VIP Fund, Class 2
	Franklin Mutual Shares VIP Fund, Class 2
	Franklin Rising Dividends VIP Fund, Class 2
	Franklin Small Cap Value VIP Fund, Class 2
	Franklin Small-Mid Cap Growth VIP Fund, Class 2
	Franklin Strategic Income VIP Fund, Class 2
	Franklin U.S. Government Securities VIP Fund, Class 2
	Goldman Sachs VIT Core Fixed Income Fund, Service Shares
	Goldman Sachs VIT International Equity Insights Fund, Institutional Shares
	Goldman Sachs VIT International Equity Insights Fund, Service Shares
	Goldman Sachs VIT Large Cap Value Fund, Institutional Shares
	Goldman Sachs VIT Large Cap Value Fund, Service Shares
	Goldman Sachs VIT Mid Cap Growth Fund, Service Shares (a)
	Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares
	Goldman Sachs VIT Mid Cap Value Fund, Service Shares
	Goldman Sachs VIT Small Cap Equity Insights Fund, Institutional Shares
	Goldman Sachs VIT Small Cap Equity Insights Fund, Service Shares
	Goldman Sachs VIT Strategic Growth Fund, Institutional Shares
	Goldman Sachs VIT Strategic Growth Fund, Service Shares
	Goldman Sachs VIT Trend Driven Allocation, Service Shares
	Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Shares
	Goldman Sachs VIT U.S. Equity Insights Fund, Service Shares
	Guggenheim Floating Rate Strategies, Series F
	Guggenheim Global Managed Futures Strategy Fund
	Guggenheim Long Short Equity Fund
	Guggenheim Multi-Hedge Strategies Fund
	Invesco V.I. American Franchise Fund, Series I
	Invesco V.I. American Franchise Fund, Series II
	Invesco V.I. American Value Fund, Series II
	Invesco V.I. Balanced-Risk Allocation Fund Class, Series II
	Invesco V.I. Capital Appreciation Fund, Series I
	Invesco V.I. Capital Appreciation Fund, Series II
	Invesco V.I. Comstock Fund, Series I
	Invesco V.I. Comstock Fund, Series II
	Invesco V.I. Conservative Balanced Fund, Series II
	Invesco V.I. Discovery Mid Cap Growth Fund, Series I
	Invesco V.I. Discovery Mid Cap Growth Fund, Series II
	Invesco V.I. Equity and Income Fund, Series II

152

	Invesco V.I. EQV International Equity Fund, Series II (a)
	Invesco V.I. Global Fund, Series I
	Invesco V.I. Global Fund, Series II
	Invesco V.I. Global Real Estate Fund, Series II
	Invesco V.I. Global Strategic Income Fund
	Invesco V.I. Global Strategic Income Fund, Series II
	Invesco V.I. Government Securities Fund, Series II
	Invesco V.I. Growth and Income Fund, Series I
	Invesco V.I. Growth and Income Fund, Series II
	Invesco V.I. Main Street Fund, Series I
	Invesco V.I. Main Street Fund, Series II (a)
	Invesco V.I. Main Street Mid Cap Fund, Series II
	Invesco V.I. Main Street Small Cap Fund, Series II
	Invesco V.I. Small Cap Equity Fund, Series II
	Invesco V.I. U.S. Government Money Portfolio, Series I
	Janus Henderson Forty Fund, Class S (a)
	Janus Henderson Global Sustainable Equity Fund (a)
	Janus Henderson Overseas Fund, Class S (a)
	Janus Henderson VIT Balanced Portfolio, Service Shares (a)
	Janus Henderson VIT Global Technology and Innovation Portfolio, Service Shares (a)
	Lord Abbett Series Fund Bond Debenture Portfolio
	Lord Abbett Series Fund Fundamental Equity Portfolio
	Lord Abbett Series Fund Growth and Income Portfolio
	Lord Abbett Series Fund Growth Opportunities Portfolio
	Lord Abbett Series Fund Inc. Dividend Growth Portfolio
	Lord Abbett Series Fund Mid Cap Stock Portfolio
	Lord Abbett Series Fund Short Duration Income Portfolio
	MFS Core Equity Portfolio, Service Class (a)
	MFS Emerging Markets Equity Portfolio, Service Class
	MFS Global Real Estate Portfolio, Service Class (a)
	MFS Growth Series, Initial Class
	MFS Growth Series, Service Class
	MFS International Growth Portfolio, Service Class (a)
	MFS International Intrinsic Value Portfolio, Service Class
	MFS Investors Trust Series, Initial Class
	MFS Investors Trust Series, Service Class
	MFS Massachusetts Investors Growth Stock Portfolio, Initial Class
	MFS Massachusetts Investors Growth Stock Portfolio, Service Class
	MFS Mid Cap Growth Series, Service Class (a)
	MFS Mid Cap Value Portfolio, Service Class (a)
	MFS New Discovery Series, Initial Class
	MFS New Discovery Series, Service Class
	MFS Research Series, Initial Class
	MFS Research Series, Service Class

153

	MFS Total Return Bond Series, Service Class
	MFS Total Return Series, Initial Class
	MFS Total Return Series, Service Class
	MFS Utilities Series, Initial Class
	MFS Utilities Series, Service Class
	MFS Value Series, Service Class
	Morgan Stanley VIF Core Plus Fixed Income Portfolio (a)
	Morgan Stanley VIF Global Real Estate Portfolio, Class II
	Morgan Stanley VIF Global Strategist Portfolio (a)
	PIMCO All Asset Portfolio
	PIMCO Commodity RealReturn Strategy Portfolio, Advisor Class (a)
	PIMCO Global Diversified Allocation Portfolio
	PIMCO High Yield Portfolio, Advisor Class
	PIMCO Income Portfolio
	PIMCO Long-Term U.S. Government Portfolio, Advisor Class
	PIMCO Low Duration Portfolio, Advisor Class
	PIMCO Real Return Portfolio, Advisor Class
	PIMCO Short-Term Portfolio, Advisor Class
	PIMCO Total Return Portfolio, Advisor Class
	Protective Life Dynamic Allocation Series Conservative Portfolio
	Protective Life Dynamic Allocation Series Growth Portfolio
	Protective Life Dynamic Allocation Series Moderate Portfolio
	Royce Capital Fund Micro Cap Portfolio, Service Class
	Royce Capital Fund Small Cap Portfolio, Service Class
	Rydex Commodities Strategy
	Rydex Inverse Government Long Bond Strategy
	T. Rowe Price All-Cap Opportunities Portfolio
	T. Rowe Price Blue Chip Growth Portfolio, Class II
	T. Rowe Price Health Sciences Portfolio, Class II
	T. Rowe Price Mid-Cap Growth Portfolio, Class II (a)
	T. Rowe Price Moderate Allocation Portfolio (a)
	Templeton Developing Markets VIP Fund, Class 2
	Templeton Foreign VIP Fund, Class 2
	Templeton Global Bond VIP Fund, Class 2
	Templeton Growth VIP Fund, Class 2
	VanEck VIP Global Resources Fund, Class I
	Vanguard VIF Balanced Portfolio
	Vanguard VIF Capital Growth Portfolio
	Vanguard VIF Conservative Allocation Portfolio
	Vanguard VIF Diversified Value Portfolio
	Vanguard VIF Equity Income Portfolio
	Vanguard VIF Equity Index Portfolio
	Vanguard VIF Global Bond Index Portfolio
	Vanguard VIF Growth Portfolio

154

	Vanguard VIF High Yield Bond Portfolio
	Vanguard VIF International Portfolio
	Vanguard VIF Mid-Cap Index Portfolio
	Vanguard VIF Moderate Allocation Portfolio
	Vanguard VIF Money Market Portfolio
	Vanguard VIF Real Estate Index Portfolio
	Vanguard VIF Short-Term Investment-Grade Portfolio
	Vanguard VIF Total Bond Market Index Portfolio
	Vanguard VIF Total International Stock Market Index Portfolio
	Vanguard VIF Total Stock Market Index Portfolio
	Western Asset Core Plus VIT Portfolio, Class II

(a)

See Subaccount Changes table below

Subaccount Changes:

During 2022, the following Subaccounts changed their names:

Previous Name	New Name	Date of Change
Invesco V.I. International Growth Fund II	Invesco V.I. EQV International Equity Fund, Series II	April 29, 2022
Goldman Sachs VIT Growth Opportunities Fund	Goldman Sachs VIT Mid Cap Growth Fund, Service Shares	April 29, 2022

During 2022 or 2023, the following Subaccounts were closed:

Subaccount Name	Date of Closure
Franklin Multi-Asset Dynamic Multi-Strategy VIT, Class 2	August 31, 2022
Morgan Stanley VIF Core Plus Fixed Income Portfolio	July 26, 2023

During 2022 or 2023, the following Subaccounts were opened:

Subaccount Name	Date of Commencement
American Century Investments VP Balanced Fund, Class I	September 12, 2022
American Century Investments VP International Fund, Class I	October 30, 2023
American Century Investments VP Ultra Fund, Class I	May 15, 2023
American Funds IS American High-Income Trust, Class 4	March 15, 2023
American Funds IS Capital World Bond Fund, Class 2	January 13, 2022
American Funds IS Capital World Bond Fund, Class 4	March 16, 2023
American Funds IS International Growth and Income Fund, Class 4	January 23, 2023
BlackRock Advantage SMID Cap V.I. Fund, Class III	November 22, 2023
Columbia VP Emerging Markets Bond Fund, Class 2	January 18, 2022
Columbia VP Seligman Global Technology Fund, Class 2	October 20, 2023
Fidelity VIP Asset Manager Growth Portfolio, Service Class 2	March 18, 2022
Fidelity VIP Extended Market Index Portfolio, Service Class 2	April 19, 2022
Fidelity VIP FundsManager 60% Portfolio, Service Class 2	March 14, 2022
Fidelity VIP FundsManager 85% Portfolio, Service Class 2	January 18, 2022
Fidelity VIP Growth & Income Portfolio, Service Class 2	May 10, 2023
Fidelity VIP High Income Portfolio, Service Class 2	August 10, 2023
Fidelity VIP International Capital Appreciation Portfolio, Service Class 2	June 22, 2023
Fidelity VIP Strategic Income Portfolio, Service Class 2	September 15, 2023
Fidelity VIP Technology Portfolio, Initial Class	January 28, 2022
Fidelity VIP Total Market Index Portfolio	January 21, 2022
Fidelity VIP Utilities Portfolio, Initial Class	March 10, 2022
Fidelity VIP Value Strategies Portfolio, Service Class 2	January 12, 2022
Invesco V.I. Main Street Mid Cap Fund, Series II	October 20, 2023
Janus Henderson Forty Fund, Class S	August 22, 2022
Janus Henderson Global Sustainable Equity Fund	June 26, 2023
Janus Henderson Overseas Fund, Class S	August 22, 2022
Janus Henderson VIT Balanced Portfolio, Service Shares	August 22, 2022
Janus Henderson VIT Global Technology and Innovation Portfolio, Service Shares	August 22, 2022
MFS Core Equity Portfolio, Service Class	October 20, 2023
MFS Global Real Estate Portfolio, Service Class	October 30, 2023

155

MFS International Growth Portfolio, Service Class	June 8, 2023
MFS Mid Cap Growth Series, Service Class	December 7, 2023
MFS Mid Cap Value Portfolio, Service Class	December 7, 2023
Morgan Stanley VIF Core Plus Fixed Income Portfolio	September 12, 2022
Morgan Stanley VIF Global Strategist Portfolio	December 2, 2022
PIMCO Commodity RealReturn Strategy Portfolio, Advisor Class	November 9, 2022
T. Rowe Price Mid-Cap Growth Portfolio, Class II	September 25, 2023
T. Rowe Price Moderate Allocation Portfolio	January 21, 2022

The Separate Account is an investment company and, therefore, applies specialized accounting guidance in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 "Financial Services — Investment Companies".

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the significant accounting policies of the Separate Account.

Investment valuation

Investments are made and measured in shares and are presented net of management fees and other operating expenses incurred by the Subaccounts. The investments are valued at the net asset values of the mutual funds, which value their investment securities at fair value. Transactions with the mutual funds are recognized on the trade date.

The Separate Account classifies its valuations into three levels based upon the observability of inputs to the valuation of the Separate Account’s investments. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

Level 1 – Unadjusted quoted prices for identical securities in active markets.

Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. These may include quoted prices for similar assets in active markets.

Level 3 – Unobservable inputs to the extent observable inputs are not available and may include prices obtained from single broker quotes. Unobservable inputs reflect the reporting entity’s own assumptions and would be based on the best information available under the circumstances.

The Separate Account determines the fair values of certain financial assets based on quoted market prices. All of the investments in the Subaccounts of the Separate Account are classified as Level 1 in the fair value hierarchy and consist of open-ended mutual funds. Participants may, without restriction, transact at the daily net asset value (“NAV”) of the mutual funds. The NAV represents the daily per share value based on the fair value of the underlying portfolio of investments of the respective Subaccounts.

Receivable from dividends

Receivable from dividends include dividends declared by the fund managers that have not yet been reinvested in accordance with the Subaccounts' designated reinvestment dates.

Receivables and payables from (to) the Contracts and the fund manager

Receivables and payables from (to) the Contracts and the fund manager include trading activity initiated at the Contract level from the last business day of the year that has not yet been settled with the fund manager.

Receivables and payables from (to) the Company

Receivables and payables from (to) the Company include accruals for the variance between investments and reserves applicable to the Subaccount.

156

Contracts in the annuity period

Net assets allocated to Contracts in the annuity period are computed according to the Annuity 2012 IAM ANB Mortality Table with an assumed investment return of 5%. The mortality risk is fully borne by the Company and may result in additional amounts being transferred into the Separate Account by the Company to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed amounts required, transfers may be made to the Company for the calculated or excess differential.

Dividend income and capital gain distributions

Dividend income and capital gain distributions are recorded on the ex-dividend date and are reinvested in additional shares of the mutual funds. Ordinary dividend and capital gain distributions are recognized within net investment income and net realized gains, respectively, as recorded in the financial statements of the Subaccounts.

Net realized gains and losses

Net realized gains and losses on investments include gains and losses on redemptions of the Subaccounts’ shares (determined for each product using the last-in-first-out (LIFO) or a weighted average cost basis, depending on the product) and capital gain distributions from the mutual funds.

Net transfers (to) from the Company and/or Subaccounts

Net transfers (to) from the Company and/or Subaccounts include transfers between the Subaccounts of the Separate Account as well as transfers between the Separate Account and the Company.

Federal income taxes

The results of the operations of the Separate Account are included in the federal income tax return of the Company. Under the provisions of the Contracts, the Company has the right to charge the Separate Account for federal income tax attributable to the Separate Account. No charge has been made against the Separate Account for such tax during the year ended December 31, 2023. Management will periodically review the application of this policy in the event of changes in tax law. Accordingly, a change may be made in future years to consider charges for any federal income taxes that would be attributable to the Contracts.

Use of estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that could affect the reported amounts of assets and liabilities, as well as the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from the estimates reported in the accompanying financial statements.

Risks and uncertainties

The Separate Account provides for various investment options in any combination of Subaccounts, each of which bears exposure to the market, credit, and liquidity risks of the underlying portfolio in which it invests. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments, it is at least reasonably possible that changes in risks in the near term could materially affect investment balances, the amounts reported in the statements of assets and liabilities, of operations and of changes in net assets. Accordingly, these financial statements should be read in conjunction with the financial statements and footnotes of the underlying Subaccounts identified in Note 1.

157

3. PURCHASES AND SALES OF INVESTMENTS

The cost of purchases and proceeds from sales of investments for the year ended December 31, 2023 were as follows:

Subaccount	Purchases		Sales
AB VPS Discovery Value Portfolio, Class B	$	1,186,455	$	622,821
AB VPS Large Cap Growth Portfolio, Class B		18,527,198		1,136,975
AB VPS Relative Value Portfolio, Class B		2,202,763		867,620
AB VPS Small Cap Growth Portfolio, Class B		141,542		31,930
American Century Investments VP Balanced Fund, Class I		101,672		77,569
American Century Investments VP International Fund, Class I		127,491		182
American Century Investments VP Ultra Fund, Class I		123,010		2,230
American Funds IS American High-Income Trust, Class 2		243,064		82,999
American Funds IS American High-Income Trust, Class 4		1,617,809		104,696
American Funds IS Asset Allocation Fund, Class 2		15,372,895		13,104,402
American Funds IS Asset Allocation Fund, Class 4		32,090,220		10,952,894
American Funds IS Capital Income Builder, Class 2		595,135		652,010
American Funds IS Capital Income Builder, Class 4		8,781,162		1,607,956
American Funds IS Capital World Bond Fund, Class 2		64,045		91,450
American Funds IS Capital World Bond Fund, Class 4		1,586,240		118,204
American Funds IS Capital World Growth and Income Fund, Class 2		406,517		808,764
American Funds IS Capital World Growth and Income Fund, Class 4		2,959,344		958,567
American Funds IS Global Growth Fund, Class 2		10,502,910		16,378,349
American Funds IS Global Growth Fund, Class 4		32,361,530		3,443,772
American Funds IS Global Small Capitalization Fund, Class 2		623,426		555,793
American Funds IS Global Small Capitalization Fund, Class 4		1,379,246		103,980
American Funds IS Growth Fund, Class 2		7,324,706		7,468,605
American Funds IS Growth Fund, Class 4		36,606,452		13,546,060
American Funds IS Growth-Income Fund, Class 2		2,678,638		2,147,065
American Funds IS Growth-Income Fund, Class 4		21,165,008		4,778,669
American Funds IS International Fund, Class 2		349,215		1,199,770
American Funds IS International Fund, Class 4		6,224,083		195,519
American Funds IS International Growth and Income Fund, Class 2		182,820		167,913
American Funds IS International Growth and Income Fund, Class 4		814,493		20,440
American Funds IS New World Fund, Class 2		482,870		989,133
American Funds IS New World Fund, Class 4		437,158		40,461
American Funds IS The Bond Fund of America, Class 2		8,849,795		1,406,477
American Funds IS The Bond Fund of America, Class 4		30,546,134		1,989,429
American Funds IS U.S. Government Securities Fund, Class 2		742,845		227,956
American Funds IS U.S. Government Securities Fund, Class 4		5,525,073		2,151,019
American Funds IS Washington Mutual Investors Fund, Class 2		3,488,941		4,710,208
American Funds IS Washington Mutual Investors Fund, Class 4		13,088,321		716,798
BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III		9,258,713		912,073
BlackRock Advantage SMID Cap V.I. Fund, Class III		166,535		43
BlackRock Global Allocation V.I. Fund, Class III		14,015,264		999,595
BlackRock International V.I. Fund, Class I		981,346		96,398
Calvert VP SRI Balanced Portfolio		22,627		56,338
ClearBridge Variable Dividend Strategy Portfolio, Class II		460,540		270,335
ClearBridge Variable Large Cap Growth Portfolio, Class II		615,451		64,253
ClearBridge Variable Mid Cap Portfolio, Class II		68,101,200		46,225,508

158

Subaccount	Purchases		Sales
ClearBridge Variable Small Cap Growth Portfolio, Class II	$	30,148,258	$	24,363,438
Columbia VP Balanced Fund, Class 2		4,485,598		583,031
Columbia VP Emerging Markets Bond Fund, Class 2		381,865		6,111
Columbia VP Intermediate Bond Fund, Class 2		1,358,593		257,013
Columbia VP Limited Duration Credit Fund, Class 2		601,939		169,560
Columbia VP Select Mid Cap Value Fund, Class 2		790,683		225,490
Columbia VP Seligman Global Technology Fund, Class 2		229,485		371
Columbia VP Strategic Income Fund, Class 2		9,175,517		678,541
Dimensional VA Equity Allocation Portfolio, Institutional		283,495		85,562
Dimensional VA Global Bond Portfolio		705,111		118,979
Dimensional VA Global Moderate Allocation Portfolio, Institutional		616,236		605,582
Dimensional VA International Small Portfolio		374,082		50,547
Dimensional VA International Value Portfolio		451,446		125,687
Dimensional VA Short-Term Fixed Portfolio		1,439,988		99,391
Dimensional VA US Large Value Portfolio		1,087,474		148,390
Dimensional VA US Targeted Value Portfolio		730,044		132,632
Fidelity VIP Asset Manager Growth Portfolio, Service Class 2		7,969,574		28,676
Fidelity VIP Asset Manager Portfolio, Service Class 2		539,321		42,502
Fidelity VIP Balanced Portfolio, Service Class 2		22,400,318		2,178,910
Fidelity VIP Bond Index Portfolio		3,410,137		104,868
Fidelity VIP Contrafund Portfolio, Service Class 2		161,719,490		92,690,973
Fidelity VIP Energy Portfolio, Service Class 2		893,024		889,149
Fidelity VIP Equity-Income Portfolio, Service Class 2		365,094		602,284
Fidelity VIP Extended Market Index Portfolio, Service Class 2		155,238		30,193
Fidelity VIP Freedom Funds 2015 Portfolio, Service Class 2		60,350		355,648
Fidelity VIP Freedom Funds 2020 Portfolio, Service Class 2		90,260		162,265
Fidelity VIP FundsManager 20% Portfolio, Service Class 2		295,461		81,287
Fidelity VIP FundsManager 60% Portfolio, Service Class 2		1,035,056		29,434
Fidelity VIP FundsManager 85% Portfolio, Service Class 2		156,288		9,591
Fidelity VIP Growth & Income Portfolio, Service Class 2		33,303		296
Fidelity VIP Growth Portfolio, Service Class 2		301,832		550,068
Fidelity VIP Health Care Portfolio, Service Class 2		1,376,871		642,322
Fidelity VIP High Income Portfolio, Service Class 2		31,625		277
Fidelity VIP Index 500 Portfolio, Service Class 2		647,868,851		352,206,148
Fidelity VIP International Capital Appreciation Portfolio, Service Class 2		435,314		501
Fidelity VIP International Index Portfolio, Service Class 2		1,284,544		30,820
Fidelity VIP Investment Grade Bond Portfolio, Service Class 2		29,554,320		28,627,695
Fidelity VIP Mid Cap Portfolio, Service Class 2		316,055,852		244,559,792
Fidelity VIP Strategic Income Portfolio, Service Class 2		32,161		264
Fidelity VIP Target Volatility Portfolio, Service Class 2		382,879		111,631
Fidelity VIP Technology Portfolio, Initial Class		5,985,057		38,019
Fidelity VIP Total Market Index Portfolio		1,021,240		30,232
Fidelity VIP Utilities Portfolio, Initial Class		206,661		37,871
Fidelity VIP Value Strategies Portfolio, Service Class 2		424,843		42,437
Franklin DynaTech VIP Fund		27,336,058		13,162,115
Franklin Income VIP Fund, Class 2		115,266,126		70,489,571
Franklin Mutual Global Discovery VIP Fund, Class 2		508,784		649,935
Franklin Mutual Shares VIP Fund, Class 2		447,931,045		345,486,365
Franklin Rising Dividends VIP Fund, Class 2		178,834,936		154,894,753

159

Subaccount	Purchases		Sales
Franklin Small Cap Value VIP Fund, Class 2	$	35,945,265	$	25,034,737
Franklin Small-Mid Cap Growth VIP Fund, Class 2		23,107,741		16,119,167
Franklin Strategic Income VIP Fund, Class 2		568,975		929,871
Franklin U.S. Government Securities VIP Fund, Class 2		15,156,568		41,546,588
Goldman Sachs VIT Core Fixed Income Fund, Service Shares		3,145,237		3,672,846
Goldman Sachs VIT International Equity Insights Fund, Institutional Shares		722,500		2,719,065
Goldman Sachs VIT International Equity Insights Fund, Service Shares		9,525,232		10,502,138
Goldman Sachs VIT Large Cap Value Fund, Institutional Shares		3,766,939		4,373,992
Goldman Sachs VIT Large Cap Value Fund, Service Shares		17,394,978		17,770,608
Goldman Sachs VIT Mid Cap Growth Fund, Service Shares		15,014,788		12,744,717
Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares		419,486		725,998
Goldman Sachs VIT Mid Cap Value Fund, Service Shares		156,709,292		125,054,265
Goldman Sachs VIT Small Cap Equity Insights Fund, Institutional Shares		413,187		2,273,696
Goldman Sachs VIT Small Cap Equity Insights Fund, Service Shares		626,449		1,480,589
Goldman Sachs VIT Strategic Growth Fund, Institutional Shares		1,941,219		4,888,058
Goldman Sachs VIT Strategic Growth Fund, Service Shares		94,168,498		53,389,788
Goldman Sachs VIT Trend Driven Allocation, Service Shares		652,547		948,826
Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Shares		644,275		4,059,486
Goldman Sachs VIT U.S. Equity Insights Fund, Service Shares		9,133		111,564
Guggenheim Floating Rate Strategies, Series F		1,075,385		1,484,855
Guggenheim Global Managed Futures Strategy Fund		202,646		331,247
Guggenheim Long Short Equity Fund		104,430		82,951
Guggenheim Multi-Hedge Strategies Fund		117,980		228,509
Invesco V.I. American Franchise Fund, Series I		336,335		779,715
Invesco V.I. American Franchise Fund, Series II		88,925		587,746
Invesco V.I. American Value Fund, Series II		52,538,284		50,044,693
Invesco V.I. Balanced-Risk Allocation Fund Class, Series II		1,702,103		10,129,299
Invesco V.I. Capital Appreciation Fund, Series I		208,154		1,103,363
Invesco V.I. Capital Appreciation Fund, Series II		26,885,977		10,103,448
Invesco V.I. Comstock Fund, Series I		3,591,211		3,907,445
Invesco V.I. Comstock Fund, Series II		76,390,821		75,697,830
Invesco V.I. Conservative Balanced Fund, Series II		23,938,647		1,931,503
Invesco V.I. Discovery Mid Cap Growth Fund, Series I		59,139		317,606
Invesco V.I. Discovery Mid Cap Growth Fund, Series II		17,284,259		13,314,193
Invesco V.I. Equity and Income Fund, Series II		233,671,631		175,623,381
Invesco V.I. EQV International Equity Fund, Series II		51,907,420		32,700,274
Invesco V.I. Global Fund, Series I		884,370		1,110,662
Invesco V.I. Global Fund, Series II		132,206,000		88,004,596
Invesco V.I. Global Real Estate Fund, Series II		13,876,557		7,114,857
Invesco V.I. Global Strategic Income Fund		489,090		742,509
Invesco V.I. Global Strategic Income Fund, Series II		1,881,545		34,354,008
Invesco V.I. Government Securities Fund, Series II		7,767,290		15,857,251
Invesco V.I. Growth and Income Fund, Series I		3,768,838		3,607,652
Invesco V.I. Growth and Income Fund, Series II		647,751,904		521,882,368
Invesco V.I. Main Street Fund, Series I		523,994		1,091,189
Invesco V.I. Main Street Fund, Series II		31,569,484		27,761,904
Invesco V.I. Main Street Mid Cap Fund, Series II		124,854		42,233
Invesco V.I. Main Street Small Cap Fund, Series II		5,109,088		167,726
Invesco V.I. Small Cap Equity Fund, Series II		13,488,392		9,599,040

160

Subaccount	Purchases		Sales
Invesco V.I. U.S. Government Money Portfolio, Series I	$	2,164,174,403	$	3,657,687,708
Janus Henderson Forty Fund, Class S		1,293,754		120,928
Janus Henderson Global Sustainable Equity Fund		10,434		92
Janus Henderson Overseas Fund, Class S		759,060		71,949
Janus Henderson VIT Balanced Portfolio, Service Shares		4,838,573		490,482
Janus Henderson VIT Global Technology and Innovation Portfolio, Service Shares		1,084,004		122,316
Lord Abbett Series Fund Bond Debenture Portfolio		52,656,558		59,904,659
Lord Abbett Series Fund Fundamental Equity Portfolio		193,788,858		141,499,905
Lord Abbett Series Fund Growth and Income Portfolio		4,650,185		10,196,960
Lord Abbett Series Fund Growth Opportunities Portfolio		75,959,747		47,346,400
Lord Abbett Series Fund Inc. Dividend Growth Portfolio		39,060,080		36,797,038
Lord Abbett Series Fund Mid Cap Stock Portfolio		15,150,969		15,005,074
Lord Abbett Series Fund Short Duration Income Portfolio		3,312,445		228,412
MFS Core Equity Portfolio, Service Class		227,192		139
MFS Emerging Markets Equity Portfolio, Service Class		13,540		45,687
MFS Global Real Estate Portfolio, Service Class		127,491		189
MFS Growth Series, Initial Class		508,719		817,332
MFS Growth Series, Service Class		4,740,633		9,894,940
MFS International Growth Portfolio, Service Class		387,190		69,235
MFS International Intrinsic Value Portfolio, Service Class		1,799,260		3,244,909
MFS Investors Trust Series, Initial Class		483,691		1,198,086
MFS Investors Trust Series, Service Class		2,866,375		7,679,657
MFS Massachusetts Investors Growth Stock Portfolio, Initial Class		189,274		280,598
MFS Massachusetts Investors Growth Stock Portfolio, Service Class		2,038,717		6,017,486
MFS Mid Cap Growth Series, Service Class		24,951		13
MFS Mid Cap Value Portfolio, Service Class		15,000		11
MFS New Discovery Series, Initial Class		18,857		161,401
MFS New Discovery Series, Service Class		1,199,730		6,499,241
MFS Research Series, Initial Class		314,695		401,743
MFS Research Series, Service Class		292,702		517,021
MFS Total Return Bond Series, Service Class		13,387,155		35,972,565
MFS Total Return Series, Initial Class		1,128,795		2,618,678
MFS Total Return Series, Service Class		3,348,308		6,600,724
MFS Utilities Series, Initial Class		385,391		277,081
MFS Utilities Series, Service Class		2,753,282		2,630,389
MFS Value Series, Service Class		13,789,562		19,318,108
Morgan Stanley VIF Core Plus Fixed Income Portfolio		42,348		82,062
Morgan Stanley VIF Global Real Estate Portfolio, Class II		720,612		1,049,315
Morgan Stanley VIF Global Strategist Portfolio		190,600		23,446
PIMCO All Asset Portfolio		9,728,425		6,838,278
PIMCO Commodity RealReturn Strategy Portfolio, Advisor Class		891		375
PIMCO Global Diversified Allocation Portfolio		1,090,526		1,204,775
PIMCO High Yield Portfolio, Advisor Class		345,086		129,390
PIMCO Income Portfolio		556,864		268,495
PIMCO Long-Term U.S. Government Portfolio, Advisor Class		2,669,160		4,014,943
PIMCO Low Duration Portfolio, Advisor Class		9,626,013		19,226,121
PIMCO Real Return Portfolio, Advisor Class		12,641,697		32,532,716
PIMCO Short-Term Portfolio, Advisor Class		16,468,943		12,090,629
PIMCO Total Return Portfolio, Advisor Class		44,649,625		74,415,464

161

Subaccount	Purchases			Sales
Protective Life Dynamic Allocation Series Conservative Portfolio	$	6,098,069		$	7,054,455
Protective Life Dynamic Allocation Series Growth Portfolio		4,902,316			10,874,429
Protective Life Dynamic Allocation Series Moderate Portfolio		69,517,383			32,866,048
Royce Capital Fund Micro Cap Portfolio, Service Class		19,839,188			14,491,475
Royce Capital Fund Small Cap Portfolio, Service Class		108,730,898			116,901,112
Rydex Commodities Strategy		1,940			239
Rydex Inverse Government Long Bond Strategy		0	*		608
T. Rowe Price All-Cap Opportunities Portfolio		730,686			34,260
T. Rowe Price Blue Chip Growth Portfolio, Class II		19,269,929			1,696,054
T. Rowe Price Health Sciences Portfolio, Class II		6,144,700			948,365
T. Rowe Price Mid-Cap Growth Portfolio, Class II		255,757			591
T. Rowe Price Moderate Allocation Portfolio		7,661,800			287,061
Templeton Developing Markets VIP Fund, Class 2		13,696,217			8,627,626
Templeton Foreign VIP Fund, Class 2		12,862,891			23,809,292
Templeton Global Bond VIP Fund, Class 2		3,995,048			28,971,868
Templeton Growth VIP Fund, Class 2		16,842,533			22,815,543
VanEck VIP Global Resources Fund, Class I		16,633			33,683
Vanguard VIF Balanced Portfolio		197,943			60,968
Vanguard VIF Capital Growth Portfolio		80,513			130,221
Vanguard VIF Conservative Allocation Portfolio		235,167			47,836
Vanguard VIF Diversified Value Portfolio		250,614			9,366
Vanguard VIF Equity Income Portfolio		504,191			478,901
Vanguard VIF Equity Index Portfolio		651,603			146,882
Vanguard VIF Global Bond Index Portfolio		49,770			4,021
Vanguard VIF Growth Portfolio		450,601			265,258
Vanguard VIF High Yield Bond Portfolio		25,528			5,078
Vanguard VIF International Portfolio		299,826			129,232
Vanguard VIF Mid-Cap Index Portfolio		312,096			74,604
Vanguard VIF Moderate Allocation Portfolio		48,211			9,789
Vanguard VIF Money Market Portfolio		828,560			1,048,392
Vanguard VIF Real Estate Index Portfolio		205,189			42,400
Vanguard VIF Short-Term Investment-Grade Portfolio		913,663			250,146
Vanguard VIF Total Bond Market Index Portfolio		1,162,514			278,356
Vanguard VIF Total International Stock Market Index Portfolio		241,226			94,767
Vanguard VIF Total Stock Market Index Portfolio		681,054			100,904
Western Asset Core Plus VIT Portfolio, Class II		1,074,189			583,372

* The Subaccount has dollars that round to less than one.

162

4. CHANGES IN UNITS OUTSTANDING

The changes in units outstanding for the years or periods ended December 31, 2023 and 2022 were as follows:

	2023							2022
Subaccount	Units Issued		Units Redeemed		Net Increase (Decrease)			Units Issued		Units Redeemed		Net Increase (Decrease)

AB VPS Discovery Value Portfolio, Class B		110,555		65,223		45,332			87,688		60,822		26,866
AB VPS Large Cap Growth Portfolio, Class B		1,646,912		109,202		1,537,710			985,632		72,351		913,281
AB VPS Relative Value Portfolio, Class B		190,261		78,158		112,103			117,979		57,789		60,190
AB VPS Small Cap Growth Portfolio, Class B		17,851		4,117		13,734			40,985		1,917		39,068
American Century Investments VP Balanced Fund, Class I		9,661		8,348		1,313			8,029		1		8,028
American Century Investments VP International Fund, Class I		14,204		5		14,199			-		-		-
American Century Investments VP Ultra Fund, Class I		12,818		160		12,658			-		-		-
American Funds IS American High-Income Trust, Class 2		20,847		8,283		12,564			62,122		5,664		56,458
American Funds IS American High-Income Trust, Class 4		152,358		9,993		142,365			-		-		-
American Funds IS Asset Allocation Fund, Class 2		579,172		578,023		1,149			1,044,178		1,015,502		28,676
American Funds IS Asset Allocation Fund, Class 4		2,934,050		760,168		2,173,882			419,135		560,129		(140,994	)
American Funds IS Capital Income Builder, Class 2		31,961		49,640		(17,679	)		117,093		44,996		72,097
American Funds IS Capital Income Builder, Class 4		856,332		123,158		733,174			176,413		196,046		(19,633	)
American Funds IS Capital World Bond Fund, Class 2		8,090		11,442		(3,352	)		59,130		576		58,554
American Funds IS Capital World Bond Fund, Class 4		163,988		12,066		151,922			-		-		-
American Funds IS Capital World Growth and Income Fund, Class 2		22,500		59,686		(37,186	)		53,776		26,786		26,990
American Funds IS Capital World Growth and Income Fund, Class 4		277,726		63,452		214,274			36,749		39,281		(2,532	)
American Funds IS Global Growth Fund, Class 2		170,597		891,915		(721,318	)		1,374,177		442,965		931,212
American Funds IS Global Growth Fund, Class 4		2,909,792		205,429		2,704,363			303,694		225,646		78,048
American Funds IS Global Small Capitalization Fund, Class 2		43,857		41,682		2,175			179,757		44,677		135,080
American Funds IS Global Small Capitalization Fund, Class 4		139,327		9,507		129,820			17,944		1,141		16,803
American Funds IS Growth Fund, Class 2		232,121		328,746		(96,625	)		1,133,483		209,433		924,050
American Funds IS Growth Fund, Class 4		3,078,559		629,486		2,449,073			412,118		779,573		(367,455	)
American Funds IS Growth-Income Fund, Class 2		109,959		143,348		(33,389	)		483,421		109,233		374,188
American Funds IS Growth-Income Fund, Class 4		1,806,157		281,858		1,524,299			320,421		340,777		(20,356	)
American Funds IS International Fund, Class 2		22,289		102,618		(80,329	)		156,729		52,205		104,524
American Funds IS International Fund, Class 4		619,607		17,018		602,589			21,322		735		20,587
American Funds IS International Growth and Income Fund, Class 2		18,365		18,464		(99	)		111,766		1,026		110,740
American Funds IS International Growth and Income Fund, Class 4		79,884		1,776		78,108			-		-		-
American Funds IS New World Fund, Class 2		29,824		69,167		(39,343	)		160,447		58,997		101,450
American Funds IS New World Fund, Class 4		42,419		2,756		39,663			10,554		3,765		6,789
American Funds IS The Bond Fund of America, Class 2		789,924		122,263		667,661			2,014,395		251,168		1,763,227
American Funds IS The Bond Fund of America, Class 4		3,054,363		193,117		2,861,246			374,437		222,477		151,960

163

	2023							2022
Subaccount	Units Issued		Units Redeemed		Net Increase (Decrease)			Units Issued		Units Redeemed		Net Increase (Decrease)

American Funds IS U.S. Government Securities Fund, Class 2		61,918		21,451		40,467			61,240		51,995		9,245
American Funds IS U.S. Government Securities Fund, Class 4		555,259		221,967		333,292			69,423		111,044		(41,621	)
American Funds IS Washington Mutual Investors Fund, Class 2		166,484		260,227		(93,743	)		514,387		338,413		175,974
American Funds IS Washington Mutual Investors Fund, Class 4		1,242,712		55,250		1,187,462			82,656		68,834		13,822
BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III		912,479		90,275		822,204			362,069		79,695		282,374
BlackRock Advantage SMID Cap V.I. Fund, Class III		15,039		-		15,039			-		-		-
BlackRock Global Allocation V.I. Fund, Class III		1,426,731		99,692		1,327,039			1,517,263		84,077		1,433,186
BlackRock International V.I. Fund, Class I		99,047		10,290		88,757			61,788		13,174		48,614
Calvert VP SRI Balanced Portfolio		9		1,361		(1,352	)		57		8,657		(8,600	)
ClearBridge Variable Dividend Strategy Portfolio, Class II		35,183		22,600		12,583			17,144		2,781		14,363
ClearBridge Variable Large Cap Growth Portfolio, Class II		57,302		5,807		51,495			16,858		9,694		7,164
ClearBridge Variable Mid Cap Portfolio, Class II		2,655,805		1,888,208		767,597			2,384,417		3,348,090		(963,673	)
ClearBridge Variable Small Cap Growth Portfolio, Class II		925,331		771,959		153,372			810,102		864,088		(53,986	)
Columbia VP Balanced Fund, Class 2		434,457		54,363		380,094			172,554		123,891		48,663
Columbia VP Emerging Markets Bond Fund, Class 2		37,025		504		36,521			13,157		40		13,117
Columbia VP Intermediate Bond Fund, Class 2		159,995		29,667		130,328			85,777		12,192		73,585
Columbia VP Limited Duration Credit Fund, Class 2		60,076		17,758		42,318			49,999		23,521		26,478
Columbia VP Select Mid Cap Value Fund, Class 2		78,779		21,343		57,436			58,009		5,539		52,470
Columbia VP Seligman Global Technology Fund, Class 2		23,057		9		23,048			-		-		-
Columbia VP Strategic Income Fund, Class 2		924,315		66,259		858,056			660,839		26,937		633,902
Dimensional VA Equity Allocation Portfolio, Institutional		18,151		5,913		12,238			6,551		36		6,515
Dimensional VA Global Bond Portfolio		68,758		12,096		56,662			22,685		4,597		18,088
Dimensional VA Global Moderate Allocation Portfolio, Institutional		46,328		46,856		(528	)		23,564		8,734		14,830
Dimensional VA International Small Portfolio		27,354		3,825		23,529			30,504		1,288		29,216
Dimensional VA International Value Portfolio		24,571		8,124		16,447			45,248		2,820		42,428
Dimensional VA Short-Term Fixed Portfolio		135,922		9,413		126,509			56,402		9,260		47,142
Dimensional VA US Large Value Portfolio		63,249		9,115		54,134			75,750		10,555		65,195
Dimensional VA US Targeted Value Portfolio		29,088		6,319		22,769			34,800		2,769		32,031
Fidelity VIP Asset Manager Growth Portfolio, Service Class 2		773,293		1,696		771,597			9,180		18		9,162
Fidelity VIP Asset Manager Portfolio, Service Class 2		53,289		4,072		49,217			11,565		5,941		5,624
Fidelity VIP Balanced Portfolio, Service Class 2		2,131,046		206,896		1,924,150			1,962,072		361,148		1,600,924
Fidelity VIP Bond Index Portfolio		349,060		10,213		338,847			66,688		11,397		55,291
Fidelity VIP Contrafund Portfolio, Service Class 2		5,158,906		2,717,939		2,440,967			7,985,887		11,852,640		(3,866,753	)
Fidelity VIP Energy Portfolio, Service Class 2		53,778		51,166		2,612			83,331		24,702		58,629
Fidelity VIP Equity-Income Portfolio, Service Class 2		4,021		17,499		(13,478	)		10,969		40,937		(29,968	)
Fidelity VIP Extended Market Index Portfolio, Service Class 2		16,884		3,344		13,540			6,542		14		6,528
Fidelity VIP Freedom Funds 2015 Portfolio, Service Class 2		808		20,433		(19,625	)		652		11,528		(10,876	)

164

	2023							2022
Subaccount	Units Issued		Units Redeemed		Net Increase (Decrease)			Units Issued		Units Redeemed		Net Increase (Decrease)

Fidelity VIP Freedom Funds 2020 Portfolio, Service Class 2		262		7,274		(7,012	)		696		2,314		(1,618	)
Fidelity VIP FundsManager 20% Portfolio, Service Class 2		26,375		7,202		19,173			124,816		69,189		55,627
Fidelity VIP FundsManager 60% Portfolio, Service Class 2		99,409		2,732		96,677			1,200		1,200		-
Fidelity VIP FundsManager 85% Portfolio, Service Class 2		14,464		320		14,144			59,154		13		59,141
Fidelity VIP Growth & Income Portfolio, Service Class 2		3,095		14		3,081			-		-		-
Fidelity VIP Growth Portfolio, Service Class 2		3,040		10,050		(7,010	)		4,614		13,428		(8,814	)
Fidelity VIP Health Care Portfolio, Service Class 2		145,162		66,326		78,836			168,723		84,284		84,439
Fidelity VIP High Income Portfolio, Service Class 2		2,945		15		2,930			-		-		-
Fidelity VIP Index 500 Portfolio, Service Class 2		18,783,914		9,987,702		8,796,212			14,800,018		28,637,921		(13,837,903	)
Fidelity VIP International Capital Appreciation Portfolio, Service Class 2		44,026		3		44,023			-		-		-
Fidelity VIP International Index Portfolio, Service Class 2		128,057		2,873		125,184			31,659		7,251		24,408
Fidelity VIP Investment Grade Bond Portfolio, Service Class 2		2,151,521		2,196,063		(44,542	)		2,699,178		3,165,915		(466,737	)
Fidelity VIP Mid Cap Portfolio, Service Class 2		11,768,721		9,482,909		2,285,812			11,099,829		15,491,108		(4,391,279	)
Fidelity VIP Strategic Income Portfolio, Service Class 2		3,103		20		3,083			-		-		-
Fidelity VIP Target Volatility Portfolio, Service Class 2		38,980		11,589		27,391			4,391		179		4,212
Fidelity VIP Technology Portfolio, Initial Class		483,923		3,078		480,845			27,908		3,308		24,600
Fidelity VIP Total Market Index Portfolio		99,601		1,597		98,004			194,682		22,912		171,770
Fidelity VIP Utilities Portfolio, Initial Class		19,903		3,036		16,867			9,091		3,000		6,091
Fidelity VIP Value Strategies Portfolio, Service Class 2		37,918		3,381		34,537			72,434		13,249		59,185
Franklin DynaTech VIP Fund		1,069,993		472,597		597,396			2,176,018		2,202,989		(26,971	)
Franklin Income VIP Fund, Class 2		5,424,410		3,757,475		1,666,935			4,481,386		8,186,701		(3,705,315	)
Franklin Multi-Asset Dynamic Multi-Strategy VIT, Class 2		-		-		-			62,692		1,526,935		(1,464,243	)
Franklin Mutual Global Discovery VIP Fund, Class 2		19,278		48,444		(29,166	)		23,204		64,828		(41,624	)
Franklin Mutual Shares VIP Fund, Class 2		19,723,935		17,444,035		2,279,900			18,637,008		28,315,077		(9,678,069	)
Franklin Rising Dividends VIP Fund, Class 2		5,677,271		4,676,563		1,000,708			12,900,493		13,878,721		(978,228	)
Franklin Small Cap Value VIP Fund, Class 2		1,535,137		946,250		588,887			1,140,661		1,508,714		(368,053	)
Franklin Small-Mid Cap Growth VIP Fund, Class 2		859,950		591,613		268,337			1,085,660		1,214,059		(128,399	)
Franklin Strategic Income VIP Fund, Class 2		30,519		89,045		(58,526	)		72,404		69,757		2,647
Franklin U.S. Government Securities VIP Fund, Class 2		633,153		3,834,060		(3,200,907	)		1,449,179		5,557,324		(4,108,145	)
Goldman Sachs VIT Core Fixed Income Fund, Service Shares		248,997		348,089		(99,092	)		213,707		330,011		(116,304	)
Goldman Sachs VIT International Equity Insights Fund, Institutional Shares		13,918		138,141		(124,223	)		55,926		150,133		(94,207	)
Goldman Sachs VIT International Equity Insights Fund, Service Shares		668,366		783,227		(114,861	)		1,025,189		1,305,585		(280,396	)
Goldman Sachs VIT Large Cap Value Fund, Institutional Shares		13,660		101,086		(87,426	)		22,125		129,297		(107,172	)
Goldman Sachs VIT Large Cap Value Fund, Service Shares		361,579		703,295		(341,716	)		463,086		1,300,055		(836,969	)
Goldman Sachs VIT Mid Cap Growth Fund, Service Shares		614,261		387,766		226,495			627,519		770,256		(142,737	)
Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares		5,425		15,703		(10,278	)		2,686		21,518		(18,832	)
Goldman Sachs VIT Mid Cap Value Fund, Service Shares		5,887,178		4,985,524		901,654			6,061,274		8,420,741		(2,359,467	)

165

	2023							2022
Subaccount	Units Issued		Units Redeemed		Net Increase (Decrease)			Units Issued		Units Redeemed		Net Increase (Decrease)

Goldman Sachs VIT Small Cap Equity Insights Fund, Institutional Shares		4,383		33,359		(28,976	)		8,595		39,579		(30,984	)
Goldman Sachs VIT Small Cap Equity Insights Fund, Service Shares		39,794		59,727		(19,933	)		31,446		54,888		(23,442	)
Goldman Sachs VIT Strategic Growth Fund, Institutional Shares		14,590		75,401		(60,811	)		29,898		59,029		(29,131	)
Goldman Sachs VIT Strategic Growth Fund, Service Shares		2,893,399		1,343,879		1,549,520			4,821,090		6,548,170		(1,727,080	)
Goldman Sachs VIT Trend Driven Allocation, Service Shares		49,383		69,513		(20,130	)		136,820		112,161		24,659
Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Shares		7,386		51,689		(44,303	)		8,912		57,518		(48,606	)
Goldman Sachs VIT U.S. Equity Insights Fund, Service Shares		152		2,513		(2,361	)		585		1,775		(1,190	)
Guggenheim Floating Rate Strategies, Series F		71,507		118,394		(46,887	)		95,124		104,113		(8,989	)
Guggenheim Global Managed Futures Strategy Fund		15,382		28,468		(13,086	)		37,711		24,421		13,290
Guggenheim Long Short Equity Fund		8,163		6,546		1,617			1,801		2,857		(1,056	)
Guggenheim Multi-Hedge Strategies Fund		8,706		19,120		(10,414	)		9,657		15,139		(5,482	)
Invesco V.I. American Franchise Fund, Series I		12,074		39,741		(27,667	)		7,871		33,081		(25,210	)
Invesco V.I. American Franchise Fund, Series II		1,664		23,842		(22,178	)		4,971		9,834		(4,863	)
Invesco V.I. American Value Fund, Series II		1,567,989		2,086,999		(519,010	)		2,398,096		3,024,120		(626,024	)
Invesco V.I. Balanced-Risk Allocation Fund Class, Series II		109,847		627,758		(517,911	)		416,406		756,094		(339,688	)
Invesco V.I. Capital Appreciation Fund, Series I		4,121		20,578		(16,457	)		2,730		21,155		(18,425	)
Invesco V.I. Capital Appreciation Fund, Series II		852,989		262,255		590,734			2,198,639		3,093,489		(894,850	)
Invesco V.I. Comstock Fund, Series I		18,851		77,997		(59,146	)		7,666		72,360		(64,694	)
Invesco V.I. Comstock Fund, Series II		2,001,123		2,331,899		(330,776	)		2,551,534		3,367,019		(815,485	)
Invesco V.I. Conservative Balanced Fund, Series II		2,434,346		197,847		2,236,499			1,414,172		85,226		1,328,946
Invesco V.I. Discovery Mid Cap Growth Fund, Series I		1,476		6,537		(5,061	)		3,306		7,669		(4,363	)
Invesco V.I. Discovery Mid Cap Growth Fund, Series II		1,028,407		736,850		291,557			1,062,917		1,366,914		(303,997	)
Invesco V.I. Equity and Income Fund, Series II		10,188,821		7,547,475		2,641,346			6,667,154		10,400,610		(3,733,456	)
Invesco V.I. EQV International Equity Fund, Series II		3,395,769		2,194,832		1,200,937			5,505,548		6,010,221		(504,673	)
Invesco V.I. Global Fund, Series I		1,528		17,793		(16,265	)		2,784		12,191		(9,407	)
Invesco V.I. Global Fund, Series II		4,107,903		2,693,620		1,414,283			8,505,633		10,956,194		(2,450,561	)
Invesco V.I. Global Real Estate Fund, Series II		1,105,779		596,427		509,352			1,775,635		2,491,410		(715,775	)
Invesco V.I. Global Strategic Income Fund		24,474		33,010		(8,536	)		9,412		44,211		(34,799	)
Invesco V.I. Global Strategic Income Fund, Series II		131,928		2,279,603		(2,147,675	)		892,083		2,376,046		(1,483,963	)
Invesco V.I. Government Securities Fund, Series II		582,285		1,519,432		(937,147	)		809,855		1,900,971		(1,091,116	)
Invesco V.I. Growth and Income Fund, Series I		11,089		87,036		(75,947	)		9,500		77,454		(67,954	)
Invesco V.I. Growth and Income Fund, Series II		21,953,549		19,294,289		2,659,260			22,313,234		30,585,831		(8,272,597	)
Invesco V.I. Main Street Fund, Series I		813		25,249		(24,436	)		5,080		27,661		(22,581	)
Invesco V.I. Main Street Fund, Series II		783,121		919,446		(136,325	)		1,528,004		2,172,628		(644,624	)
Invesco V.I. Main Street Mid Cap Fund, Series II		11,990		3,913		8,077			-		-		-
Invesco V.I. Main Street Small Cap Fund, Series II		523,812		16,897		506,915			72,611		4,740		67,871
Invesco V.I. Small Cap Equity Fund, Series II		669,043		487,062		181,981			726,155		895,640		(169,485	)

166

	2023							2022
Subaccount	Units Issued		Units Redeemed		Net Increase (Decrease)			Units Issued		Units Redeemed		Net Increase (Decrease)

Invesco V.I. U.S. Government Money Portfolio, Series I		307,719,868		528,130,266		(220,410,398	)		851,095,062		663,317,578		187,777,484
Janus Henderson Forty Fund, Class S		140,432		12,661		127,771			9,999		1,719		8,280
Janus Henderson Global Sustainable Equity Fund		1,106		6		1,100			-		-		-
Janus Henderson Overseas Fund, Class S		75,739		6,855		68,884			5,350		1,539		3,811
Janus Henderson VIT Balanced Portfolio, Service Shares		500,887		49,097		451,790			86,928		708		86,220
Janus Henderson VIT Global Technology and Innovation Portfolio, Service Shares		111,116		12,370		98,746			6,458		1,718		4,740
Lord Abbett Series Fund Bond Debenture Portfolio		2,394,087		3,203,577		(809,490	)		3,249,789		3,859,654		(609,865	)
Lord Abbett Series Fund Fundamental Equity Portfolio		7,961,875		6,120,836		1,841,039			8,132,870		12,025,147		(3,892,277	)
Lord Abbett Series Fund Growth and Income Portfolio		112,493		328,204		(215,711	)		141,334		424,497		(283,163	)
Lord Abbett Series Fund Growth Opportunities Portfolio		2,826,833		1,814,389		1,012,444			3,819,312		4,135,040		(315,728	)
Lord Abbett Series Fund Inc. Dividend Growth Portfolio		1,074,469		1,142,184		(67,715	)		2,003,813		2,679,667		(675,854	)
Lord Abbett Series Fund Mid Cap Stock Portfolio		578,283		593,275		(14,992	)		576,015		952,030		(376,015	)
Lord Abbett Series Fund Short Duration Income Portfolio		311,876		20,885		290,991			231,675		22,742		208,933
MFS Core Equity Portfolio, Service Class		20,950		4		20,946			-		-		-
MFS Emerging Markets Equity Portfolio, Service Class		1,165		4,671		(3,506	)		4,515		4,487		28
MFS Global Real Estate Portfolio, Service Class		13,122		5		13,117			-		-		-
MFS Growth Series, Initial Class		1,812		12,049		(10,237	)		6,033		14,032		(7,999	)
MFS Growth Series, Service Class		54,870		191,358		(136,488	)		118,422		121,354		(2,932	)
MFS International Growth Portfolio, Service Class		36,963		6,649		30,314			-		-		-
MFS International Intrinsic Value Portfolio, Service Class		35,544		141,682		(106,138	)		102,686		140,472		(37,786	)
MFS Investors Trust Series, Initial Class		4,430		26,310		(21,880	)		1,387		27,339		(25,952	)
MFS Investors Trust Series, Service Class		10,146		195,171		(185,025	)		37,256		200,908		(163,652	)
MFS Massachusetts Investors Growth Stock Portfolio, Initial Class		4,152		10,788		(6,636	)		2,686		11,148		(8,462	)
MFS Massachusetts Investors Growth Stock Portfolio, Service Class		24,728		235,181		(210,453	)		53,968		189,131		(135,163	)
MFS Mid Cap Growth Series, Service Class		2,278		-		2,278			-		-		-
MFS Mid Cap Value Portfolio, Service Class		1,408		-		1,408			-		-		-
MFS New Discovery Series, Initial Class		307		2,050		(1,743	)		1,839		5,952		(4,113	)
MFS New Discovery Series, Service Class		26,974		128,221		(101,247	)		236,016		137,927		98,089
MFS Research Series, Initial Class		982		7,301		(6,319	)		1,285		19,307		(18,022	)
MFS Research Series, Service Class		2,571		11,343		(8,772	)		3,375		12,412		(9,037	)
MFS Total Return Bond Series, Service Class		395,459		2,835,035		(2,439,576	)		1,334,001		3,804,561		(2,470,560	)
MFS Total Return Series, Initial Class		6,413		67,386		(60,973	)		9,327		66,467		(57,140	)
MFS Total Return Series, Service Class		36,569		217,157		(180,588	)		28,351		245,331		(216,980	)
MFS Utilities Series, Initial Class		4,315		4,671		(356	)		2,095		4,070		(1,975	)
MFS Utilities Series, Service Class		32,450		69,362		(36,912	)		9,003		146,913		(137,910	)
MFS Value Series, Service Class		58,203		574,531		(516,328	)		68,123		1,100,908		(1,032,785	)
Morgan Stanley VIF Core Plus Fixed Income Portfolio		4,506		8,853		(4,347	)		4,347		-		4,347

167

	2023							2022
Subaccount	Units Issued		Units Redeemed		Net Increase (Decrease)			Units Issued			Units Redeemed		Net Increase (Decrease)

Morgan Stanley VIF Global Real Estate Portfolio, Class II		51,616		77,741		(26,125	)		100,517			130,828		(30,311	)
Morgan Stanley VIF Global Strategist Portfolio		20,816		2,484		18,332			1,976			1		1,975
PIMCO All Asset Portfolio		729,221		532,041		197,180			469,666			813,236		(343,570	)
PIMCO Commodity RealReturn Strategy Portfolio, Advisor Class		-		41		(41	)		644			1		643
PIMCO Global Diversified Allocation Portfolio		78,485		89,484		(10,999	)		61,041			106,848		(45,807	)
PIMCO High Yield Portfolio, Advisor Class		33,803		13,217		20,586			24,906			17,157		7,749
PIMCO Income Portfolio		54,024		27,531		26,493			54,054			23,523		30,531
PIMCO Long-Term U.S. Government Portfolio, Advisor Class		211,047		325,680		(114,633	)		302,753			362,969		(60,216	)
PIMCO Low Duration Portfolio, Advisor Class		538,626		1,815,397		(1,276,771	)		1,096,904			2,211,725		(1,114,821	)
PIMCO Real Return Portfolio, Advisor Class		538,216		2,660,039		(2,121,823	)		1,042,673			3,352,041		(2,309,368	)
PIMCO Short-Term Portfolio, Advisor Class		1,293,834		1,084,223		209,611			1,865,648			1,489,849		375,799
PIMCO Total Return Portfolio, Advisor Class		2,331,376		6,164,925		(3,833,549	)		4,074,657			7,864,363		(3,789,706	)
Protective Life Dynamic Allocation Series Conservative Portfolio		441,940		599,381		(157,441	)		966,212			764,095		202,117
Protective Life Dynamic Allocation Series Growth Portfolio		56,929		772,435		(715,506	)		590,014			844,934		(254,920	)
Protective Life Dynamic Allocation Series Moderate Portfolio		5,758,049		2,478,139		3,279,910			19,868,806			3,564,345		16,304,461
Royce Capital Fund Micro Cap Portfolio, Service Class		1,203,557		913,008		290,549			1,182,767			1,639,985		(457,218	)
Royce Capital Fund Small Cap Portfolio, Service Class		5,098,514		6,396,512		(1,297,998	)		14,008,985			15,481,647		(1,472,662	)
Rydex Commodities Strategy		174		24		150			226			606		(380	)
Rydex Inverse Government Long Bond Strategy		-		82		(82	)		0	*		453		(453	)
T. Rowe Price All-Cap Opportunities Portfolio		65,048		3,031		62,017			86,029			34,253		51,776
T. Rowe Price Blue Chip Growth Portfolio, Class II		1,765,193		177,510		1,587,683			721,365			159,306		562,059
T. Rowe Price Health Sciences Portfolio, Class II		616,091		99,767		516,324			249,221			78,302		170,919
T. Rowe Price Mid-Cap Growth Portfolio, Class II		23,146		31		23,115			-			-		-
T. Rowe Price Moderate Allocation Portfolio		741,634		27,819		713,815			45,464			1,789		43,675
Templeton Developing Markets VIP Fund, Class 2		1,264,891		843,564		421,327			1,786,586			1,766,048		20,538
Templeton Foreign VIP Fund, Class 2		829,615		1,772,890		(943,275	)		3,274,212			2,996,771		277,441
Templeton Global Bond VIP Fund, Class 2		375,014		2,594,508		(2,219,494	)		826,568			3,628,033		(2,801,465	)
Templeton Growth VIP Fund, Class 2		859,287		1,384,762		(525,475	)		1,730,786			2,117,161		(386,375	)
VanEck VIP Global Resources Fund, Class I		324		833		(509	)		9			892		(883	)
Vanguard VIF Balanced Portfolio		12,439		4,984		7,455			9,813			1,259		8,554
Vanguard VIF Capital Growth Portfolio		4,826		8,773		(3,947	)		11,434			6,151		5,283
Vanguard VIF Conservative Allocation Portfolio		17,659		4,017		13,642			93,556			456		93,100
Vanguard VIF Diversified Value Portfolio		16,181		569		15,612			3,800			4,054		(254	)
Vanguard VIF Equity Income Portfolio		28,926		31,017		(2,091	)		10,896			3,092		7,804
Vanguard VIF Equity Index Portfolio		42,037		10,189		31,848			52,509			3,298		49,211
Vanguard VIF Global Bond Index Portfolio		5,259		393		4,866			11,957			1,866		10,091
Vanguard VIF Growth Portfolio		43,246		23,137		20,109			47,992			2,208		45,784

168

	2023							2022
Subaccount	Units Issued		Units Redeemed		Net Increase (Decrease)			Units Issued		Units Redeemed		Net Increase (Decrease)

Vanguard VIF High Yield Bond Portfolio		1,553		436		1,117			7,820		3,153		4,667
Vanguard VIF International Portfolio		26,634		12,815		13,819			36,882		1,266		35,616
Vanguard VIF Mid-Cap Index Portfolio		21,305		5,491		15,814			19,688		5,031		14,657
Vanguard VIF Moderate Allocation Portfolio		963		705		258			10,388		415		9,973
Vanguard VIF Money Market Portfolio		73,307		102,545		(29,238	)		199,535		46,570		152,965
Vanguard VIF Real Estate Index Portfolio		14,972		3,419		11,553			11,400		842		10,558
Vanguard VIF Short-Term Investment-Grade Portfolio		91,094		25,292		65,802			47,796		22,965		24,831
Vanguard VIF Total Bond Market Index Portfolio		128,289		32,307		95,982			95,802		11,613		84,189
Vanguard VIF Total International Stock Market Index Portfolio		16,017		7,502		8,515			64,832		1,015		63,817
Vanguard VIF Total Stock Market Index Portfolio		38,450		6,938		31,512			81,912		6,032		75,880
Western Asset Core Plus VIT Portfolio, Class II		108,391		63,273		45,118			266,847		72,696		194,151

* The Subaccount has units that round to less than one.

Note: Units may not foot/crossfoot due to rounding

169

EXPENSES AND RELATED PARTY TRANSACTIONS

The fees and charges below are the current expenses deducted by the Subaccount from either the net unit value or from the Contract as a redemption of units. Fees and charges may vary based on factors such as the product purchased, optional benefits chosen, benefit base, asset base, death benefit option elected, a Contract's total asset value, age of Contract, surrender amount, if a surrender is requested during the period specified, Subaccounts selected, transaction amount, and/or transaction frequency. The fees and charges are recorded, as applicable, to the respective Subaccount in the Separate Account. Redemption of units deductions are made to the individual Contracts in accordance with the terms which govern each annuity, as set forth in the Contract.

Expense Type	Range
Administrative Fee
This fee is assessed to reimburse the Company for expenses incurred in the administration of the Contract and the Separate Account. The fee is deducted daily, assessed through a reduction of net unit values, and recorded as Mortality and expense risk and admin in the Statements of Operations.	a daily fee amounting to a per annum aggregate of 0.10% - 0.15% of the average daily net assets of the Subaccounts

Mortality and Expense Risk Fee
This fee is assessed to reimburse the Company for assuming mortality and expense risks. The fee is deducted daily, assessed through a reduction of net unit values, and recorded as Mortality and expense risk and admin in the Statements of Operations.	a daily fee amounting to a per annum aggregate of 0.20% - 1.65% of the average daily net assets of the Subaccounts
Deductions for Premium Taxes
Some states impose premium taxes at rates currently ranging up to 3.5%; if premium taxes are applicable, the mandated amount would be deducted from the contribution when it is received which will in turn reduce Contract owners' net payments on the Statement of Changes in Net Assets.	0.0% - 3.5% of each contribution, varies by state
Contract Maintenance Charge
This charge is assessed to reimburse the Company for expenses incurred in the administration of the Contract and the Separate Account. The charge is deducted annually, assessed through a redemption of units, and recorded as Contract maintenance charges in the Statements of Changes in Net Assets.	$0 - $50 annually

170

Charge for Optional Benefits
This charge, if applicable, is assessed to reimburse the Company for costs and risks stemming from optional living and death benefits elected by the Contract owner. The charge is deducted monthly, assessed through a redemption of units, and recorded as Contract maintenance charges within the Statements of Changes in Net Assets.	0.10% - 2.20% of benefit base 0.15% - 0.45% of asset base 1.0% - 2.2% of floored asset base $0.25 - $18.94 per $1,000 on net amount at risk
Sales Charge
This charge is assessed to reimburse the Company for expenses incurred associated with the sales and distribution of the Contracts. If applicable, the charge is deducted upon receipt of each purchase payment, assessed through a redemption of units, and recorded as Contract maintenance charges within the Statements of Changes in Net Assets.	0.0% - 5.5% of each purchase payment

Surrender Charge (Contingent Deferred Sales Charge)
This charge is assessed to reimburse the Company for some of the costs of distributing the Contracts. The charge is deducted at surrender, assessed through a redemption of units, and recorded as Contract maintenance charges within the Statements of Changes in Net Assets.	0.00% - 8.50% of surrendered amount

Transfer Charge
Currently there is no charge assessed for transfers; however, the Company has reserved the right to charge for transfers as reimbursement for costs incurred when transferring funds. The charge would be deducted upon transfer, assessed through a redemption of units, and recorded as Contract owners’ benefits within the Statements of Changes in Net Assets.	$25 per transfer, after the first 12 transfers in any Contract year

171

FINANCIAL HIGHLIGHTS

The Company sells a number of variable annuity products that are funded by the Separate Account. These products have unique combinations of features and expenses that are charged against the Contract owner’s account. Differences in the expense structures result in a variety of unit values, expense ratios and total returns. The following tables were developed by determining which products offered by the Company and funded by the Separate Account have the highest and lowest expense ratios. The summaries may not reflect or directly equate to the minimum and maximum Contract expenses offered by the Company, as Contract owners may not have selected all available and applicable Contract options for or during the periods presented.

A summary of the units outstanding, unit fair values, net assets for variable annuity Contracts, investment income ratios, the expense ratios, excluding expenses of the underlying Subaccounts, and total returns for each of the five years or periods ended December 31, 2023 is as follows:

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
AB VPS Discovery Value Portfolio, Class B
2023		104	$	10.47	$	10.87	$	1,076		1.00	%		0.65	%		1.30	%		15.54	%		15.35	%
2022		58		8.73		9.43		512		0.44	%		0.75	%		1.30	%		(16.45	)%		(16.91	)%
2021		32		11.37		11.34		358		0.56	%		1.00	%		1.30	%		5.35	%		5.09	%
AB VPS Large Cap Growth Portfolio, Class B
2023		2,521		12.68		12.33		28,324		0.00	%		0.30	%		1.30	%		34.38	%		33.04	%
2022		984		9.44		9.27		7,458		0.00	%		0.30	%		1.30	%		(28.90	)%		(29.61	)%
2021		71		10.37		13.17		857		0.00	%		0.75	%		1.30	%		(6.33	)%		18.92	%
AB VPS Relative Value Portfolio, Class B
2023		185		10.54		12.19		2,085		1.52	%		0.65	%		1.30	%		12.90	%		10.28	%
2022		73		9.75		11.06		745		0.99	%		0.75	%		1.30	%		(5.13	)%		(5.66	)%
2021		13		11.75		11.72		147		0.35	%		1.00	%		1.30	%		5.26	%		4.99	%

172

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c)Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
AB VPS Small Cap Growth Portfolio, Class B
2023		63	$	7.57	$	7.35	$	471		0.00	%		0.30	%		1.30	%		17.37	%		16.20	%
2022		49		6.45		6.33		299		0.00	%		0.30	%		1.30	%		(39.45	)%		(40.05	)%
2021		10		10.65		10.56		110		0.00	%		0.30	%		1.30	%		11.44	%		10.52	%
American Century Investments VP Balanced Fund, Class I
2023		9		10.89		10.15		100		2.32	%		0.65	%		1.20	%		3.96	%		15.02	%
2022		8		8.82		8.82		71		1.54	%		1.20	%		1.20	%		(4.05	)%		(4.05	)%
American Century Investments VP International Fund, Class I
2023		14		9.62		9.62		137		0.00	%		1.20	%		1.20	%		15.78	%		15.78	%
American Century Investments VP Ultra Fund, Class I
2023		13		10.84		10.84		137		0.00	%		1.20	%		1.20	%		19.41	%		19.41	%
American Funds IS American High-Income Trust, Class 2
2023		72		10.13		10.13		724		7.20	%		0.75	%		0.75	%		11.61	%		11.61	%
2022		59		9.07		9.07		535		14.04	%		0.75	%		0.75	%		(9.94	)%		(9.94	)%
2021		2		10.08		10.08		25		0.00	%		0.75	%		0.75	%		0.00	%		0.00	%
American Funds IS American High-Income Trust, Class 4
2023		142		10.82		10.82		1,541		15.29	%		0.65	%		0.65	%		10.65	%		10.65	%
American Funds IS Asset Allocation Fund, Class 2
2023		4,194		28.06		24.97		89,463		2.23	%		0.60	%		1.70	%		13.59	%		12.34	%
2022		4,193		24.70		22.23		81,196		1.78	%		0.60	%		1.70	%		(13.92	)%		(14.87	)%
2021		4,164		28.70		26.12		100,498		1.58	%		0.60	%		1.70	%		14.41	%		13.15	%
2020		3,572		11.78		32.86		85,665		1.57	%		0.60	%		1.70	%		10.55	%		11.78	%
2019		3,490		20.77		29.46		79,883		1.96	%		0.60	%		1.70	%		19.17	%		20.50	%
American Funds IS Asset Allocation Fund, Class 4
2023		4,389		10.87		16.26		55,462		2.44	%		0.65	%		1.30	%		14.22	%		12.55	%
2022		2,215		13.92		14.44		30,864		1.59	%		1.00	%		1.30	%		(14.52	)%		(14.78	)%
2021		2,356		16.28		16.95		38,782		1.52	%		1.00	%		1.30	%		13.69	%		13.35	%
2020		1,725		14.32		14.95		25,063		1.59	%		1.00	%		1.30	%		10.70	%		11.04	%
2019		1,073		12.90		13.51		14,139		2.00	%		1.00	%		1.30	%		19.36	%		19.72	%

173

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
American Funds IS Capital Income Builder, Class 2
2023		594	$	12.40	$	13.56	$	7,613		2.93	%		0.75	%		0.90	%		8.20	%		8.04	%
2022		611		11.46		12.55		7,250		2.82	%		0.75	%		0.90	%		(7.82	)%		(7.96	)%
2021		539		12.43		13.64		6,985		3.01	%		0.75	%		0.90	%		14.08	%		13.91	%
2020		304		10.90		11.98		3,559		2.70	%		0.75	%		0.90	%		3.54	%		3.70	%
2019		225		11.57		11.57		2,607		2.96	%		0.90	%		0.90	%		16.83	%		16.83	%
American Funds IS Capital Income Builder, Class 4
2023		1,253		12.58		12.98		14,356		3.08	%		0.30	%		1.30	%		8.43	%		7.35	%
2022		520		11.60		12.09		6,478		2.50	%		0.30	%		1.30	%		(7.65	)%		(8.58	)%
2021		540		12.56		13.23		7,377		2.57	%		0.30	%		1.30	%		14.34	%		13.19	%
2020		488		11.69		12.33		5,878		2.87	%		1.00	%		1.30	%		2.76	%		3.07	%
2019		290		11.37		11.96		3,369		2.62	%		1.00	%		1.30	%		16.09	%		16.44	%
American Funds IS Capital World Bond Fund, Class 2
2023		55		8.33		8.33		460		0.00	%		0.75	%		0.75	%		5.34	%		5.34	%
2022		59		7.90		7.90		463		0.34	%		0.75	%		0.75	%		(18.31	)%		(18.31	)%
American Funds IS Capital World Bond Fund, Class 4
2023		152		9.08		10.18		1,544		0.00	%		0.30	%		0.65	%		3.94	%		4.01	%
American Funds IS Capital World Growth and Income Fund, Class 2
2023		498		13.10		16.35		6,859		1.87	%		0.75	%		0.90	%		19.98	%		19.80	%
2022		535		10.92		13.65		6,143		2.23	%		0.75	%		0.90	%		(17.95	)%		(18.08	)%
2021		508		13.30		16.66		7,143		1.93	%		0.75	%		0.90	%		13.92	%		13.74	%
2020		314		11.68		14.65		4,029		1.34	%		0.75	%		0.90	%		7.75	%		7.92	%
2019		155		10.82		13.59		1,990		1.80	%		0.75	%		0.90	%		4.92	%		29.96	%
American Funds IS Capital World Growth and Income Fund, Class 4
2023		433		13.32		15.66		5,693		2.09	%		0.30	%		1.30	%		20.29	%		19.09	%
2022		218		11.07		13.15		2,977		1.95	%		0.30	%		1.30	%		(17.82	)%		(18.64	)%
2021		221		13.47		16.16		3,791		1.63	%		0.30	%		1.30	%		14.12	%		12.98	%
2020		166		14.30		15.35		2,519		0.97	%		1.00	%		1.30	%		7.14	%		7.46	%
2019		169		13.35		14.28		2,390		2.11	%		1.00	%		1.30	%		29.03	%		29.43	%

174

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
American Funds IS Global Growth Fund, Class 2
2023		5,340	$	14.96	$	20.48	$	95,730		0.88	%		0.75	%		0.90	%		21.69	%		21.50	%
2022		6,061		12.29		16.86		90,605		0.64	%		0.75	%		0.90	%		(25.30	)%		(25.41	)%
2021		5,130		16.46		22.60		105,373		0.34	%		0.75	%		0.90	%		15.55	%		15.37	%
2020		4,437		14.24		19.59		84,204		0.33	%		0.75	%		0.90	%		29.29	%		29.49	%
2019		4,697		11.00		15.15		71,124		1.15	%		0.75	%		0.90	%		4.68	%		34.06	%
American Funds IS Global Growth Fund, Class 4
2023		3,656		12.56		19.36		46,866		0.93	%		0.30	%		1.30	%		21.93	%		20.71	%
2022		952		10.30		16.04		14,451		0.40	%		0.30	%		1.30	%		(25.14	)%		(25.89	)%
2021		874		13.76		21.64		18,614		0.22	%		0.30	%		1.30	%		15.79	%		14.63	%
2020		838		18.40		18.88		15,643		0.15	%		1.00	%		1.30	%		28.48	%		28.87	%
2019		747		14.28		14.69		10,918		1.00	%		1.00	%		1.30	%		33.12	%		33.53	%
American Funds IS Global Small Capitalization Fund, Class 2
2023		594		12.10		14.11		7,484		0.27	%		0.75	%		0.90	%		15.30	%		15.13	%
2022		592		10.49		12.26		6,483		0.00	%		0.75	%		0.90	%		(30.08	)%		(30.19	)%
2021		457		15.00		17.55		7,236		0.00	%		0.75	%		0.90	%		5.94	%		5.78	%
2020		284		14.16		16.60		4,409		0.13	%		0.75	%		0.90	%		28.56	%		28.75	%
2019		188		11.00		12.91		2,383		0.16	%		0.75	%		0.90	%		4.01	%		30.34	%
American Funds IS Global Small Capitalization Fund, Class 4
2023		164		11.17		13.33		1,807		0.03	%		0.30	%		1.30	%		15.44	%		14.29	%
2022		34		9.68		11.66		392		0.00	%		0.30	%		1.30	%		(29.90	)%		(30.60	)%
2021		17		13.81		16.80		283		0.00	%		0.30	%		1.30	%		6.11	%		5.04	%
2020		20		15.99		15.99		314		0.12	%		1.30	%		1.30	%		27.71	%		27.71	%
2019		19		12.52		12.52		243		0.01	%		1.30	%		1.30	%		29.54	%		29.54	%
American Funds IS Growth Fund, Class 2
2023		3,180		19.25		30.58		66,705		0.36	%		0.75	%		0.90	%		37.45	%		37.24	%
2022		3,276		14.00		22.28		51,021		0.33	%		0.75	%		0.90	%		(30.46	)%		(30.57	)%
2021		2,353		20.14		32.09		54,975		0.25	%		0.75	%		0.90	%		21.08	%		20.89	%
2020		1,249		15.99		26.54		27,688		0.28	%		0.75	%		0.90	%		50.71	%		50.94	%
2019		824		11.02		17.61		14,503		0.78	%		0.75	%		0.90	%		4.22	%		29.60	%

175

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
American Funds IS Growth Fund, Class 4
2023		4,571	$	14.97	$	28.90	$	74,959		0.18	%		0.30	%		1.30	%		37.72	%		36.35	%
2022		2,121		10.87		21.19		37,934		0.09	%		0.30	%		1.30	%		(30.32	)%		(31.02	)%
2021		2,489		15.60		30.73		67,204		0.07	%		0.30	%		1.30	%		21.32	%		20.10	%
2020		1,874		12.86		25.58		41,912		0.31	%		0.30	%		1.30	%		49.75	%		50.20	%
2019		986		14.79		17.08		14,785		0.69	%		1.00	%		1.30	%		28.75	%		29.14	%
American Funds IS Growth-Income Fund, Class 2
2023		1,257		15.55		19.88		19,940		1.38	%		0.75	%		0.90	%		25.20	%		25.01	%
2022		1,291		12.42		15.90		16,383		1.40	%		0.75	%		0.90	%		(17.12	)%		(17.24	)%
2021		916		14.99		19.22		14,196		1.39	%		0.75	%		0.90	%		23.17	%		22.98	%
2020		287		12.17		15.63		3,905		1.42	%		0.75	%		0.90	%		12.52	%		12.69	%
2019		114		10.80		13.89		1,582		1.82	%		0.75	%		0.90	%		3.72	%		25.00	%
American Funds IS Growth-Income Fund, Class 4
2023		2,433		14.77		19.03		35,023		1.45	%		0.30	%		1.30	%		25.45	%		24.20	%
2022		909		11.77		15.32		14,625		1.02	%		0.30	%		1.30	%		(16.96	)%		(17.79	)%
2021		929		14.18		18.63		18,344		1.00	%		0.30	%		1.30	%		23.43	%		22.19	%
2020		828		15.25		16.27		13,411		1.48	%		1.00	%		1.30	%		11.78	%		12.12	%
2019		518		13.64		14.51		7,471		1.93	%		1.00	%		1.30	%		24.22	%		24.60	%
American Funds IS International Fund, Class 2
2023		852		10.76		12.16		9,669		1.30	%		0.75	%		0.90	%		14.98	%		14.81	%
2022		932		9.36		10.59		9,242		1.71	%		0.75	%		0.90	%		(21.38	)%		(21.50	)%
2021		827		11.90		13.49		10,508		2.95	%		0.75	%		0.90	%		(2.23	)%		(2.38	)%
2020		535		12.17		13.82		7,211		0.61	%		0.75	%		0.90	%		12.95	%		13.12	%
2019		420		10.76		12.24		5,144		1.55	%		0.75	%		0.90	%		4.35	%		21.78	%
American Funds IS International Fund, Class 4
2023		656		10.97		11.49		6,918		2.12	%		0.30	%		1.30	%		15.21	%		14.06	%
2022		53		9.52		10.08		535		1.64	%		0.30	%		1.30	%		(21.26	)%		(22.05	)%
2021		33		12.09		12.93		420		2.46	%		0.30	%		1.30	%		(2.01	)%		(2.99	)%
2020		29		13.32		13.32		392		0.39	%		1.30	%		1.30	%		12.18	%		12.18	%
2019		30		11.88		11.88		351		1.41	%		1.30	%		1.30	%		21.07	%		21.07	%

176

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
American Funds IS International Growth and Income Fund, Class 2
2023		112	$	9.38	$	9.38	$	1,048		2.46	%		0.75	%		0.75	%		14.90	%		14.90	%
2022		112		8.16		8.16		913		5.60	%		0.75	%		0.75	%		(15.88	)%		(15.88	)%
2021		1		9.71		9.71		10		0.00	%		0.75	%		0.75	%		1.08	%		1.08	%
American Funds IS International Growth and Income Fund, Class 4
2023		78		10.66		10.57		832		4.94	%		0.65	%		1.20	%		6.29	%		5.84	%
American Funds IS New World Fund, Class 2
2023		721		12.33		14.97		9,511		1.44	%		0.75	%		0.90	%		15.13	%		14.96	%
2022		760		10.71		13.02		8,784		1.29	%		0.75	%		0.90	%		(22.68	)%		(22.80	)%
2021		659		13.85		16.86		9,954		0.99	%		0.75	%		0.90	%		4.14	%		3.98	%
2020		384		13.30		16.22		5,933		0.06	%		0.75	%		0.90	%		22.47	%		22.66	%
2019		320		10.84		13.24		4,201		0.99	%		0.75	%		0.90	%		4.19	%		27.98	%
American Funds IS New World Fund, Class 4
2023		70		11.43		14.15		798		1.72	%		0.30	%		1.30	%		15.32	%		14.17	%
2022		30		9.91		12.39		337		1.01	%		0.30	%		1.30	%		(22.49	)%		(23.26	)%
2021		23		12.79		16.15		362		0.65	%		0.30	%		1.30	%		4.32	%		3.27	%
2020		23		15.64		15.64		366		0.03	%		1.30	%		1.30	%		21.69	%		21.69	%
2019		19		12.85		12.85		250		0.94	%		1.30	%		1.30	%		27.14	%		27.14	%
American Funds IS The Bond Fund of America, Class 2
2023		4,129		9.81		10.50		40,678		3.64	%		0.75	%		0.90	%		4.23	%		4.08	%
2022		3,461		9.41		10.09		32,758		3.58	%		0.75	%		0.90	%		(13.23	)%		(13.36	)%
2021		1,698		10.85		11.64		18,660		1.90	%		0.75	%		0.90	%		(1.05	)%		(1.20	)%
2020		557		10.96		11.79		6,314		2.42	%		0.75	%		0.90	%		8.75	%		8.91	%
2019		261		10.06		10.84		2,829		2.79	%		0.75	%		0.90	%		0.27	%		8.37	%
American Funds IS The Bond Fund of America, Class 4
2023		3,728		9.20		10.04		37,465		5.25	%		0.30	%		1.30	%		4.41	%		3.37	%
2022		867		8.81		9.71		8,478		2.90	%		0.30	%		1.30	%		(13.01	)%		(13.88	)%
2021		715		10.13		11.28		8,143		1.41	%		0.30	%		1.30	%		(0.88	)%		(1.88	)%
2020		482		11.49		11.73		5,619		2.34	%		1.00	%		1.30	%		7.96	%		8.29	%
2019		201		10.65		10.83		2,164		2.87	%		1.00	%		1.30	%		7.66	%		7.99	%

177

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
American Funds IS U.S. Government Securities Fund, Class 2
2023		386	$	9.71	$	10.01	$	3,776		3.84	%		0.75	%		0.90	%		2.12	%		1.97	%
2022		346		9.51		9.81		3,304		3.76	%		0.75	%		0.90	%		(11.62	)%		(11.75	)%
2021		336		10.76		11.12		3,644		1.68	%		0.75	%		0.90	%		(1.37	)%		(1.52	)%
2020		167		10.91		11.29		1,846		1.84	%		0.75	%		0.90	%		8.82	%		8.98	%
2019		57		10.38		10.38		586		2.28	%		0.90	%		0.90	%		4.37	%		4.37	%
American Funds IS U.S. Government Securities Fund, Class 4
2023		757		9.00		9.57		7,395		4.60	%		0.30	%		1.30	%		2.31	%		1.29	%
2022		424		8.80		9.45		4,042		3.24	%		0.30	%		1.30	%		(11.46	)%		(12.35	)%
2021		466		9.94		10.78		5,068		0.90	%		0.30	%		1.30	%		(1.17	)%		(2.16	)%
2020		667		11.02		11.21		7,444		2.57	%		1.00	%		1.30	%		8.06	%		8.39	%
2019		80		10.20		10.34		817		2.18	%		1.00	%		1.30	%		3.78	%		4.09	%
American Funds IS Washington Mutual Investors Fund, Class 2
2023		2,463		15.77		20.10		42,268		1.87	%		0.75	%		0.90	%		16.41	%		16.24	%
2022		2,557		13.54		17.29		38,161		1.90	%		0.75	%		0.90	%		(9.14	)%		(9.27	)%
2021		2,381		14.91		19.06		39,893		1.64	%		0.75	%		0.90	%		26.82	%		26.63	%
2020		1,548		11.75		15.05		21,924		1.71	%		0.75	%		0.90	%		7.71	%		7.87	%
2019		1,138		10.90		13.97		15,902		2.16	%		0.75	%		0.90	%		4.28	%		20.29	%
American Funds IS Washington Mutual Investors Fund, Class 4
2023		1,383		15.77		19.01		16,839		2.59	%		0.30	%		1.30	%		16.62	%		15.46	%
2022		195		13.52		16.46		3,041		1.68	%		0.30	%		1.30	%		(8.96	)%		(9.87	)%
2021		182		14.85		18.26		3,297		1.32	%		0.30	%		1.30	%		27.13	%		25.86	%
2020		168		14.51		14.51		2,441		1.50	%		1.30	%		1.30	%		7.06	%		7.06	%
2019		136		13.55		13.55		1,837		2.06	%		1.30	%		1.30	%		19.46	%		19.46	%
BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III
2023		1,162		10.90		10.47		12,181		2.87	%		0.65	%		1.30	%		11.48	%		13.82	%
2022		340		8.57		9.20		2,986		3.22	%		0.75	%		1.30	%		(15.67	)%		(16.14	)%
2021		57		11.00		10.97		629		1.62	%		1.00	%		1.30	%		3.22	%		2.96	%
BlackRock Advantage SMID Cap V.I. Fund, Class III
2023		15		11.40		11.40		172		190.48	%		0.65	%		0.65	%		12.03	%		12.03	%

178

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
BlackRock Global Allocation V.I. Fund, Class III
2023		2,844	$	9.93	$	9.65	$	27,312		3.36	%		0.30	%		1.30	%		12.15	%		11.03	%
2022		1,517		8.85		8.69		12,534		0.00	%		0.30	%		1.30	%		(16.32	)%		(17.16	)%
2021		84		9.85		10.49		862		0.40	%		0.75	%		1.30	%		(5.82	)%		0.34	%
BlackRock International V.I. Fund, Class I
2023		145		9.15		10.66		1,416		1.39	%		0.30	%		1.20	%		18.67	%		11.17	%
2022		57		7.71		7.03		405		1.43	%		0.30	%		0.75	%		(24.84	)%		(25.18	)%
2021		8		9.39		9.39		75		0.00	%		0.75	%		0.75	%		0.00	%		0.00	%
Calvert VP SRI Balanced Portfolio
2023		36		29.16		31.68		1,198		1.60	%		0.85	%		1.55	%		15.83	%		15.02	%
2022		38		25.17		27.55		1,079		1.03	%		0.85	%		1.55	%		(16.13	)%		(16.72	)%
2021		46		30.02		33.08		1,595		1.16	%		0.85	%		1.55	%		14.14	%		13.34	%
2020		49		26.30		31.15		1,488		1.48	%		0.85	%		1.55	%		13.48	%		14.28	%
2019		50		23.01		27.37		1,337		1.57	%		0.85	%		1.55	%		22.48	%		23.35	%
ClearBridge Variable Dividend Strategy Portfolio, Class II
2023		31		13.01		12.64		374		2.10	%		0.30	%		1.30	%		13.67	%		12.53	%
2022		18		11.44		11.23		203		1.95	%		0.30	%		1.30	%		(8.51	)%		(9.42	)%
2021		4		12.43		12.40		45		0.98	%		1.00	%		1.30	%		10.96	%		10.68	%
ClearBridge Variable Large Cap Growth Portfolio, Class II
2023		69		11.85		11.75		805		0.00	%		1.00	%		1.30	%		42.23	%		41.80	%
2022		18		8.33		8.28		147		0.00	%		1.00	%		1.30	%		(33.09	)%		(33.29	)%
2021		11		12.45		12.42		131		0.00	%		1.00	%		1.30	%		13.64	%		13.36	%
ClearBridge Variable Mid Cap Portfolio, Class II
2023		1,836		35.08		22.98		47,333		0.02	%		0.60	%		1.75	%		11.95	%		10.66	%
2022		1,068		31.33		20.77		24,485		0.06	%		0.60	%		1.75	%		(25.95	)%		(26.80	)%
2021		2,032		42.31		28.37		66,543		0.03	%		0.60	%		1.75	%		27.62	%		26.14	%
2020		2,339		12.27		33.16		62,964		0.03	%		0.60	%		1.75	%		13.09	%		14.41	%
2019		2,806		19.89		28.98		66,938		0.50	%		0.60	%		1.75	%		30.33	%		31.86	%

179

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
ClearBridge Variable Small Cap Growth Portfolio, Class II
2023		640	$	11.22	$	27.99	$	17,582		0.00	%		0.30	%		1.75	%		7.80	%		6.24	%
2022		486		10.41		26.34		12,106		0.00	%		0.30	%		1.75	%		(29.22	)%		(30.25	)%
2021		540		14.71		37.77		20,778		0.00	%		0.30	%		1.75	%		11.98	%		10.35	%
2020		657		15.32		52.71		26,813		0.00	%		0.60	%		1.75	%		40.42	%		42.05	%
2019		847		24.38		37.10		25,189		0.00	%		0.60	%		1.75	%		24.34	%		25.79	%
Columbia VP Balanced Fund, Class 2
2023		568		11.40		10.89		6,273		0.00	%		0.65	%		1.30	%		16.13	%		19.53	%
2022		188		8.32		9.11		1,668		0.00	%		0.75	%		1.30	%		(17.49	)%		(17.94	)%
2021		140		11.13		11.10		1,552		0.00	%		1.00	%		1.30	%		5.38	%		5.12	%
Columbia VP Emerging Markets Bond Fund, Class 2
2023		50		10.57		8.80		501		6.17	%		0.65	%		0.75	%		8.32	%		9.20	%
2022		13		8.06		8.06		106		3.30	%		0.75	%		0.75	%		(16.79	)%		(16.79	)%
Columbia VP Intermediate Bond Fund, Class 2
2023		240		8.74		8.50		2,053		2.38	%		0.30	%		1.30	%		5.77	%		4.71	%
2022		109		8.26		8.11		890		3.65	%		0.30	%		1.30	%		(17.47	)%		(18.29	)%
2021		36		9.95		9.93		357		0.79	%		1.00	%		1.30	%		(0.89	)%		(1.14	)%
Columbia VP Limited Duration Credit Fund, Class 2
2023		71		9.88		9.60		706		4.02	%		0.30	%		1.30	%		6.34	%		5.28	%
2022		28		9.29		9.12		259		0.62	%		0.30	%		1.30	%		(6.64	)%		(7.57	)%
2021		2		9.95		9.89		17		0.15	%		0.30	%		1.00	%		(1.09	)%		(1.66	)%
Columbia VP Select Mid Cap Value Fund, Class 2
2023		117		11.69		10.04		1,250		0.00	%		0.30	%		1.20	%		9.72	%		3.38	%
2022		59		10.65		10.52		596		0.00	%		0.30	%		1.00	%		(9.93	)%		(10.56	)%
2021		7		11.83		11.76		83		0.00	%		0.30	%		1.00	%		13.40	%		12.76	%
Columbia VP Seligman Global Technology Fund, Class 2
2023		23		10.98		10.98		253		0.00	%		1.20	%		1.20	%		18.20	%		18.20	%

180

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Columbia VP Strategic Income Fund, Class 2
2023		1,531	$	10.47	$	9.38	$	15,022		3.60	%		0.65	%		1.30	%		6.79	%		7.79	%
2022		673		8.68		8.70		5,875		2.23	%		0.75	%		1.30	%		(12.18	)%		(12.66	)%
2021		39		9.88		9.96		389		0.38	%		0.75	%		1.30	%		(1.47	)%		(0.66	)%
Dimensional VA Equity Allocation Portfolio, Institutional
2023		20		15.94		15.94		324		2.86	%		0.30	%		0.30	%		19.79	%		19.79	%
2022		8		13.30		13.30		108		3.02	%		0.30	%		0.30	%		(13.94	)%		(13.94	)%
2021		2		15.46		15.46		25		2.01	%		0.30	%		0.30	%		8.40	%		8.40	%
Dimensional VA Global Bond Portfolio
2023		145		9.68		9.68		1,405		4.83	%		0.30	%		0.30	%		4.74	%		4.74	%
2022		88		9.25		9.25		817		1.76	%		0.30	%		0.30	%		(6.61	)%		(6.61	)%
2021		70		9.90		9.90		696		0.71	%		0.30	%		0.30	%		(1.31	)%		(1.31	)%
Dimensional VA Global Moderate Allocation Portfolio, Institutional
2023		42		13.36		13.36		566		2.80	%		0.30	%		0.30	%		14.38	%		14.38	%
2022		43		11.68		11.68		501		1.74	%		0.30	%		0.30	%		(11.22	)%		(11.22	)%
2021		28		13.16		13.16		369		1.42	%		0.30	%		0.30	%		10.82	%		10.82	%
Dimensional VA International Small Portfolio
2023		80		13.53		13.53		1,083		3.59	%		0.30	%		0.30	%		13.77	%		13.77	%
2022		57		11.89		11.89		672		3.33	%		0.30	%		0.30	%		(17.89	)%		(17.89	)%
2021		27		14.48		14.48		395		4.86	%		0.30	%		0.30	%		14.22	%		14.22	%
2020		-		12.68		12.68		1,901		0.00	%		0.30	%		0.30	%		16.67	%		16.67	%
Dimensional VA International Value Portfolio
2023		90		16.31		16.31		1,462		5.44	%		0.30	%		0.30	%		17.51	%		17.51	%
2022		73		13.88		13.88		1,016		5.32	%		0.30	%		0.30	%		(3.75	)%		(3.75	)%
2021		31		14.42		14.42		444		7.49	%		0.30	%		0.30	%		17.76	%		17.76	%
2020		-		12.25		12.25		3,773		0.00	%		0.30	%		0.30	%		17.27	%		17.27	%

181

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Dimensional VA Short-Term Fixed Portfolio
2023		218	$	10.25	$	10.25	$	2,239		5.06	%		0.30	%		0.30	%		4.67	%		4.67	%
2022		92		9.79		9.79		900		1.44	%		0.30	%		0.30	%		(1.45	)%		(1.45	)%
2021		45		9.94		9.94		445		0.01	%		0.30	%		0.30	%		(0.49	)%		(0.49	)%
2020		2		9.99		9.99		18,246		0.59	%		0.30	%		0.30	%		(0.09	)%		(0.09	)%
Dimensional VA US Large Value Portfolio
2023		213		16.53		16.53		3,516		2.57	%		0.30	%		0.30	%		10.59	%		10.59	%
2022		159		14.94		14.94		2,370		2.77	%		0.30	%		0.30	%		(5.16	)%		(5.16	)%
2021		93		15.76		15.76		1,472		3.13	%		0.30	%		0.30	%		26.66	%		26.66	%
2020		1		12.44		12.44		17,930		0.00	%		0.30	%		0.30	%		15.04	%		15.04	%
Dimensional VA US Targeted Value Portfolio
2023		90		22.60		22.60		2,041		1.87	%		0.30	%		0.30	%		19.67	%		19.67	%
2022		68		18.88		18.88		1,276		1.62	%		0.30	%		0.30	%		(4.50	)%		(4.50	)%
2021		36		19.77		19.77		703		1.30	%		0.30	%		0.30	%		33.43	%		33.43	%
Fidelity VIP Asset Manager Growth Portfolio, Service Class 2
2023		781		10.84		10.67		8,435		4.61	%		0.65	%		1.20	%		12.66	%		1.40	%
2022		9		8.25		8.25		76		2.18	%		0.75	%		0.75	%		(17.67	)%		(17.67	)%
Fidelity VIP Asset Manager Portfolio, Service Class 2
2023		62		10.64		10.04		643		3.60	%		0.65	%		1.30	%		9.85	%		11.19	%
2022		13		8.95		9.03		115		2.36	%		1.20	%		1.30	%		3.47	%		(16.25	)%
2021		7		10.80		10.78		77		1.37	%		1.00	%		1.30	%		2.74	%		2.48	%
Fidelity VIP Balanced Portfolio, Service Class 2
2023		3,920		11.35		11.03		41,456		1.83	%		0.30	%		1.30	%		20.87	%		19.66	%
2022		1,996		9.39		9.22		17,083		1.38	%		0.30	%		1.30	%		(18.43	)%		(19.25	)%
2021		395		10.26		11.42		4,441		0.35	%		0.75	%		1.30	%		(2.52	)%		8.48	%
Fidelity VIP Bond Index Portfolio
2023		396		10.14		10.04		3,870		3.71	%		0.65	%		1.20	%		2.48	%		2.60	%
2022		57		8.47		8.47		483		2.34	%		0.75	%		0.75	%		(14.03	)%		(14.03	)%
2021		2		9.85		9.85		17		0.00	%		0.75	%		0.75	%		0.27	%		0.27	%

182

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Fidelity VIP Contrafund Portfolio, Service Class 2
2023		7,432	$	43.87	$	33.33	$	268,826		0.27	%		0.60	%		1.75	%		32.32	%		30.80	%
2022		4,991		33.15		25.49		143,936		0.17	%		0.60	%		1.75	%		(26.93	)%		(27.77	)%
2021		8,858		45.37		35.28		356,344		0.03	%		0.60	%		1.75	%		26.75	%		25.28	%
2020		9,484		13.91		50.62		319,766		0.08	%		0.60	%		1.75	%		27.96	%		29.45	%
2019		11,442		10.76		39.18		304,718		0.25	%		0.60	%		1.75	%		3.53	%		30.49	%
Fidelity VIP Energy Portfolio, Service Class 2
2023		88		18.30		17.79		1,425		2.66	%		0.30	%		1.30	%		0.40	%		(0.60	)%
2022		85		18.23		17.90		1,502		2.98	%		0.30	%		1.30	%		62.38	%		60.76	%
2021		26		11.16		11.13		294		2.56	%		1.00	%		1.30	%		10.05	%		9.77	%
Fidelity VIP Equity-Income Portfolio, Service Class 2
2023		157		29.80		24.70		5,183		1.71	%		0.60	%		1.65	%		9.72	%		8.56	%
2022		171		27.16		22.75		5,154		1.57	%		0.60	%		1.65	%		(5.81	)%		(6.80	)%
2021		200		28.84		24.41		6,468		1.65	%		0.60	%		1.65	%		23.86	%		22.55	%
2020		239		19.92		36.57		6,349		1.44	%		0.60	%		1.65	%		4.69	%		5.80	%
2019		280		19.03		34.64		6,986		1.85	%		0.60	%		1.65	%		25.01	%		26.34	%
Fidelity VIP Extended Market Index Portfolio, Service Class 2
2023		20		10.59		9.39		197		2.32	%		0.65	%		0.75	%		4.23	%		16.23	%
2022		7		8.08		8.08		53		1.70	%		0.75	%		0.75	%		(18.91	)%		(18.91	)%

183

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Fidelity VIP Freedom Funds 2015 Portfolio, Service Class 2
2023		33	$	20.24	$	17.13	$	670		2.91	%		0.60	%		1.65	%		9.98	%		8.82	%
2022		52		18.41		15.74		940		1.93	%		0.60	%		1.65	%		(15.30	)%		(16.19	)%
2021		63		21.73		18.78		1,374		0.95	%		0.60	%		1.65	%		6.75	%		5.62	%
2020		51		17.78		26.18		1,081		1.00	%		0.60	%		1.65	%		11.69	%		12.88	%
2019		53		15.92		23.23		991		1.81	%		0.60	%		1.65	%		16.03	%		17.27	%
Fidelity VIP Freedom Funds 2020 Portfolio, Service Class 2
2023		109		21.17		17.91		2,345		2.98	%		0.60	%		1.65	%		11.55	%		10.38	%
2022		116		18.98		16.23		2,240		1.77	%		0.60	%		1.65	%		(16.47	)%		(17.35	)%
2021		118		22.72		19.63		2,729		0.82	%		0.60	%		1.65	%		8.61	%		7.46	%
2020		128		18.27		28.86		2,844		1.02	%		0.60	%		1.65	%		12.83	%		14.03	%
2019		136		16.19		25.36		2,659		1.82	%		0.60	%		1.65	%		17.90	%		19.16	%
Fidelity VIP FundsManager 20% Portfolio, Service Class 2
2023		129		9.90		9.82		1,273		3.93	%		1.00	%		1.30	%		6.94	%		6.62	%
2022		110		9.26		9.21		1,014		2.79	%		1.00	%		1.30	%		(10.66	)%		(10.93	)%
2021		54		10.36		10.34		562		0.74	%		1.00	%		1.30	%		0.54	%		0.29	%
Fidelity VIP FundsManager 60% Portfolio, Service Class 2
2023		97		10.72		10.72		1,036		6.74	%		0.65	%		0.65	%		9.94	%		9.94	%
Fidelity VIP FundsManager 85% Portfolio, Service Class 2
2023		73		10.92		10.79		789		1.61	%		0.65	%		1.30	%		8.93	%		15.96	%
2022		59		8.29		9.30		547		0.93	%		0.75	%		1.30	%		(17.81	)%		(18.27	)%
Fidelity VIP Growth & Income Portfolio, Service Class 2
2023		3		11.19		11.19		34		4.59	%		1.20	%		1.20	%		11.84	%		11.84	%

184

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Fidelity VIP Growth Portfolio, Service Class 2
2023		48	$	58.93	$	48.84	$	2,785		0.00	%		0.60	%		1.65	%		35.08	%		33.66	%
2022		55		43.62		36.54		2,364		0.34	%		0.60	%		1.65	%		(25.10	)%		(25.88	)%
2021		64		58.24		49.30		3,652		0.00	%		0.60	%		1.65	%		22.17	%		20.88	%
2020		69		40.79		70.60		3,260		0.05	%		0.60	%		1.65	%		41.19	%		42.69	%
2019		108		28.89		49.58		3,610		0.05	%		0.60	%		1.65	%		31.77	%		33.17	%
Fidelity VIP Health Care Portfolio, Service Class 2
2023		181		10.06		9.78		1,755		0.00	%		0.30	%		1.30	%		3.70	%		2.67	%
2022		102		9.70		9.52		960		0.00	%		0.30	%		1.30	%		(12.88	)%		(13.75	)%
2021		18		11.07		11.04		197		0.00	%		1.00	%		1.30	%		2.97	%		2.71	%
Fidelity VIP High Income Portfolio, Service Class 2
2023		3		10.63		10.63		31		40.88	%		1.20	%		1.20	%		4.70	%		4.70	%
Fidelity VIP Index 500 Portfolio, Service Class 2
2023		18,406		44.75		35.84		640,855		1.24	%		0.60	%		1.75	%		25.13	%		23.69	%
2022		9,610		35.76		28.98		248,696		0.74	%		0.60	%		1.75	%		(18.91	)%		(19.84	)%
2021		23,448		44.10		36.15		890,425		1.04	%		0.60	%		1.75	%		27.49	%		26.02	%
2020		23,472		12.65		49.15		745,454		1.36	%		0.60	%		1.75	%		15.89	%		17.24	%
2019		28,900		10.81		42.01		804,290		2.12	%		0.60	%		1.75	%		3.82	%		30.23	%
Fidelity VIP International Capital Appreciation Portfolio, Service Class 2
2023		44		10.92		11.14		483		0.81	%		0.30	%		1.20	%		8.83	%		17.98	%
Fidelity VIP International Index Portfolio, Service Class 2
2023		152		10.62		9.29		1,555		4.04	%		0.65	%		0.75	%		14.00	%		15.01	%
2022		27		8.08		8.08		216		3.96	%		0.75	%		0.75	%		(16.84	)%		(16.84	)%
2021		2		9.71		9.71		22		0.00	%		0.75	%		0.75	%		(0.00	)%		(0.00	)%

185

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Fidelity VIP Investment Grade Bond Portfolio, Service Class 2
2023		21,580	$	9.25	$	10.53	$	255,514		2.51	%		0.30	%		1.75	%		5.68	%		4.15	%
2022		21,625		8.75		10.11		246,236		2.03	%		0.30	%		1.75	%		(13.47	)%		(14.73	)%
2021		22,092		10.11		11.86		297,519		1.87	%		0.30	%		1.75	%		(1.19	)%		(2.63	)%
2020		19,427		10.91		17.94		272,123		2.01	%		0.60	%		1.75	%		7.26	%		8.51	%
2019		20,226		10.07		16.54		262,913		2.53	%		0.60	%		1.75	%		0.23	%		8.75	%
Fidelity VIP Mid Cap Portfolio, Service Class 2
2023		7,277		16.27		23.77		218,317		0.42	%		0.30	%		1.75	%		14.46	%		12.80	%
2022		4,992		14.21		21.07		137,923		0.20	%		0.30	%		1.75	%		(15.22	)%		(16.45	)%
2021		9,383		16.77		25.22		298,885		0.35	%		0.30	%		1.75	%		24.93	%		23.12	%
2020		11,533		12.66		42.72		300,209		0.34	%		0.60	%		1.75	%		15.81	%		17.16	%
2019		14,516		17.69		36.63		323,571		0.84	%		0.60	%		1.75	%		21.02	%		22.43	%
Fidelity VIP Strategic Income Portfolio, Service Class 2
2023		3		10.46		10.46		32		70.71	%		1.20	%		1.20	%		4.98	%		4.98	%
Fidelity VIP Target Volatility Portfolio, Service Class 2
2023		37		10.41		10.33		380		3.42	%		1.00	%		1.30	%		5.36	%		12.45	%
2022		10		8.99		9.18		89		2.40	%		1.20	%		1.30	%		(1.63	)%		(16.75	)%
2021		6		11.03		11.03		62		0.00	%		1.30	%		1.30	%		2.62	%		2.62	%
Fidelity VIP Technology Portfolio, Initial Class
2023		505		13.98		11.46		6,909		0.26	%		0.65	%		1.20	%		35.91	%		20.27	%
2022		25		6.78		6.78		167		0.00	%		0.75	%		0.75	%		(36.34	)%		(36.34	)%
Fidelity VIP Total Market Index Portfolio
2023		270		11.70		10.34		2,885		1.07	%		0.65	%		0.75	%		21.46	%		24.77	%
2022		172		8.29		8.29		1,423		2.54	%		0.75	%		0.75	%		(20.01	)%		(20.01	)%

186

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Fidelity VIP Utilities Portfolio, Initial Class
2023		23	$	10.09	$	10.88	$	237		3.72	%		0.65	%		0.75	%		0.49	%		(1.77	)%
2022		6		11.08		11.08		67		1.63	%		0.75	%		0.75	%		4.63	%		4.63	%
Fidelity VIP Value Strategies Portfolio, Service Class 2
2023		94		11.41		11.52		1,073		1.14	%		0.30	%		0.75	%		20.25	%		19.71	%
2022		59		9.49		9.63		569		0.89	%		0.30	%		0.75	%		2.66	%		(7.41	)%
Franklin DynaTech VIP Fund
2023		2,023		39.69		30.18		51,287		0.00	%		0.60	%		1.75	%		42.91	%		41.27	%
2022		1,426		27.77		21.36		22,952		0.00	%		0.60	%		1.75	%		(40.32	)%		(41.01	)%
2021		1,453		46.54		36.21		50,142		0.00	%		0.60	%		1.75	%		15.45	%		14.12	%
2020		1,184		15.07		53.95		43,345		0.00	%		0.60	%		1.75	%		42.36	%		44.02	%
2019		1,372		22.29		37.53		35,750		0.00	%		0.60	%		1.75	%		28.87	%		30.38	%
Franklin Income VIP Fund, Class 2
2023		6,958		13.41		16.32		139,933		5.52	%		0.30	%		1.75	%		8.30	%		6.73	%
2022		5,291		12.38		15.29		103,413		4.13	%		0.30	%		1.75	%		(5.76	)%		(7.12	)%
2021		8,997		13.13		16.46		185,425		4.73	%		0.30	%		1.75	%		16.40	%		14.72	%
2020		9,954		10.35		24.74		179,434		3.40	%		0.60	%		1.75	%		(1.07	)%		0.09	%
2019		11,530		14.51		24.77		208,678		6.48	%		0.60	%		1.75	%		14.03	%		15.36	%
Franklin Multi-Asset Dynamic Multi-Strategy VIT, Class 2
2022		-		-		-		-		0.00	%		1.00	%		1.75	%		(13.40	)%		(13.81	)%
2021		1,464		12.07		12.82		19,309		2.32	%		1.00	%		1.75	%		11.52	%		10.68	%
2020		1,567		10.82		12.05		18,608		1.43	%		1.00	%		1.75	%		(9.92	)%		(9.23	)%
2019		1,959		11.92		13.32		25,721		2.02	%		1.00	%		1.75	%		13.49	%		14.36	%
Franklin Mutual Global Discovery VIP Fund, Class 2
2023		249		13.62		13.77		3,507		2.42	%		0.75	%		1.30	%		19.41	%		18.75	%
2022		278		11.40		11.60		3,281		1.34	%		0.75	%		1.30	%		(5.46	)%		(5.98	)%
2021		320		12.06		12.33		3,994		3.29	%		0.75	%		1.30	%		18.24	%		17.58	%
2020		180		10.20		11.03		1,938		1.91	%		0.75	%		1.30	%		(5.70	)%		(5.18	)%
2019		192		10.76		11.66		2,169		1.58	%		0.75	%		1.30	%		3.63	%		23.25	%

187

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Franklin Mutual Shares VIP Fund, Class 2
2023		20,610	$	22.56	$	19.15	$	447,846		2.00	%		0.60	%		1.75	%		12.79	%		11.49	%
2022		18,330		20.00		17.17		354,552		1.34	%		0.60	%		1.75	%		(7.99	)%		(9.05	)%
2021		28,009		21.74		18.88		593,134		2.90	%		0.60	%		1.75	%		18.45	%		17.09	%
2020		32,911		10.11		26.37		597,023		1.70	%		0.60	%		1.75	%		(6.70	)%		(5.61	)%
2019		34,090		10.73		28.00		660,473		2.23	%		0.60	%		1.75	%		3.40	%		21.84	%
Franklin Rising Dividends VIP Fund, Class 2
2023		10,167		15.08		31.50		300,428		0.96	%		0.30	%		1.75	%		11.74	%		10.12	%
2022		9,167		13.50		28.60		282,597		0.46	%		0.30	%		1.75	%		(10.84	)%		(12.13	)%
2021		10,145		15.14		32.55		368,754		0.87	%		0.30	%		1.75	%		26.41	%		24.57	%
2020		11,441		12.25		44.85		341,603		0.83	%		0.60	%		1.75	%		13.94	%		15.27	%
2019		14,143		10.64		38.99		371,083		1.59	%		0.60	%		1.75	%		3.55	%		28.46	%
Franklin Small Cap Value VIP Fund, Class 2
2023		1,797		16.66		24.91		44,135		0.50	%		0.30	%		1.75	%		12.41	%		10.78	%
2022		1,208		14.82		22.49		31,949		0.79	%		0.30	%		1.75	%		(10.33	)%		(11.63	)%
2021		1,576		36.77		25.45		48,020		1.06	%		0.60	%		1.75	%		24.61	%		23.18	%
2020		1,881		11.43		29.50		47,671		1.05	%		0.60	%		1.75	%		3.35	%		4.56	%
2019		2,009		19.99		28.22		49,170		0.91	%		0.60	%		1.75	%		24.14	%		25.59	%
Franklin Small-Mid Cap Growth VIP Fund, Class 2
2023		1,199		11.69		26.86		34,210		0.00	%		0.30	%		1.75	%		26.36	%		24.53	%
2022		930		9.25		21.57		21,330		0.00	%		0.30	%		1.75	%		(33.89	)%		(34.85	)%
2021		1,059		43.78		33.11		38,855		0.00	%		0.60	%		1.75	%		9.35	%		8.09	%
2020		1,303		16.43		59.75		47,230		0.00	%		0.60	%		1.75	%		52.38	%		54.16	%
2019		1,464		20.10		38.84		35,347		0.00	%		0.60	%		1.75	%		29.14	%		30.65	%
Franklin Strategic Income VIP Fund, Class 2
2023		550		9.98		10.12		5,711		4.69	%		0.75	%		1.30	%		7.37	%		6.78	%
2022		608		9.29		9.47		5,907		4.11	%		0.75	%		1.30	%		(11.42	)%		(11.91	)%
2021		606		10.49		10.75		6,665		3.33	%		0.75	%		1.30	%		1.34	%		0.78	%
2020		487		10.35		11.04		5,359		6.31	%		0.75	%		1.30	%		2.09	%		2.65	%
2019		162		10.45		10.78		1,741		4.17	%		0.90	%		1.30	%		6.65	%		7.08	%

188

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Franklin U.S. Government Securities VIP Fund, Class 2
2023		30,071	$	12.59	$	8.84	$	311,693		2.69	%		0.60	%		1.75	%		3.84	%		2.65	%
2022		33,272		12.13		8.61		332,953		2.34	%		0.60	%		1.75	%		(10.29	)%		(11.33	)%
2021		37,380		13.52		9.71		419,387		2.49	%		0.60	%		1.75	%		(2.42	)%		(3.54	)%
2020		35,725		10.07		13.85		413,139		3.31	%		0.60	%		1.75	%		2.02	%		3.21	%
2019		40,081		9.87		13.42		449,989		2.89	%		0.60	%		1.75	%		(0.14	)%		4.60	%
Goldman Sachs VIT Core Fixed Income Fund, Service Shares
2023		2,680		8.92		9.95		26,987		2.80	%		0.30	%		1.30	%		5.51	%		4.46	%
2022		2,779		8.46		9.53		26,759		1.41	%		0.30	%		1.30	%		(14.53	)%		(15.39	)%
2021		2,895		9.89		11.26		32,932		1.13	%		0.30	%		1.30	%		(2.52	)%		(3.50	)%
2020		2,482		10.15		11.93		29,345		1.96	%		0.30	%		1.30	%		7.98	%		8.58	%
2019		2,565		10.80		11.01		28,074		2.56	%		0.90	%		1.30	%		7.59	%		8.02	%
Goldman Sachs VIT International Equity Insights Fund, Institutional Shares
2023		873		21.79		23.45		17,825		2.63	%		0.60	%		1.80	%		18.00	%		16.58	%
2022		997		18.47		20.11		17,275		2.93	%		0.60	%		1.80	%		(14.07	)%		(15.11	)%
2021		1,092		21.49		23.69		22,272		2.80	%		0.60	%		1.80	%		11.50	%		10.15	%
2020		1,247		14.52		24.14		22,861		1.41	%		0.60	%		1.80	%		4.89	%		6.17	%
2019		1,350		13.74		22.89		23,424		2.44	%		0.60	%		1.80	%		16.32	%		17.74	%
Goldman Sachs VIT International Equity Insights Fund, Service Shares
2023		2,203		13.49		13.62		31,255		2.22	%		0.70	%		1.75	%		17.60	%		16.36	%
2022		2,318		11.47		11.70		28,015		2.65	%		0.70	%		1.75	%		(14.32	)%		(15.22	)%
2021		2,598		13.39		13.80		36,780		2.50	%		0.70	%		1.75	%		11.03	%		9.86	%
2020		3,156		10.81		20.90		40,321		1.19	%		0.70	%		1.75	%		4.68	%		5.80	%
2019		3,453		10.30		19.77		41,920		2.21	%		0.70	%		1.75	%		16.17	%		17.41	%
Goldman Sachs VIT Large Cap Value Fund, Institutional Shares
2023		737		35.80		50.57		31,558		1.74	%		0.60	%		1.80	%		12.34	%		10.99	%
2022		825		31.87		45.57		31,618		1.25	%		0.60	%		1.80	%		(6.93	)%		(8.05	)%
2021		932		34.24		49.55		38,616		1.14	%		0.60	%		1.80	%		23.39	%		21.90	%
2020		1,080		23.92		45.64		36,513		1.23	%		0.60	%		1.80	%		2.11	%		3.36	%
2019		1,202		23.26		44.44		39,851		1.48	%		0.60	%		1.80	%		23.66	%		25.17	%

189

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Goldman Sachs VIT Large Cap Value Fund, Service Shares
2023		3,190	$	24.28	$	23.90	$	81,167		1.46	%		0.70	%		1.75	%		11.92	%		10.74	%
2022		3,531		21.69		21.58		80,364		1.00	%		0.70	%		1.75	%		(7.22	)%		(8.20	)%
2021		4,368		23.38		23.51		107,945		0.88	%		0.70	%		1.75	%		23.06	%		21.76	%
2020		5,198		17.03		29.85		104,778		1.04	%		0.70	%		1.75	%		1.93	%		3.02	%
2019		5,556		16.67		29.00		109,299		1.22	%		0.70	%		1.75	%		23.42	%		24.74	%
Goldman Sachs VIT Mid Cap Growth Fund, Service Shares
2023		1,394		12.29		29.30		46,856		0.00	%		0.30	%		1.75	%		18.09	%		16.39	%
2022		1,167		10.41		25.17		37,928		0.00	%		0.30	%		1.75	%		(26.52	)%		(27.59	)%
2021		1,310		14.16		34.76		57,806		0.00	%		0.30	%		1.75	%		11.14	%		9.53	%
2020		1,574		15.20		46.30		63,563		0.00	%		0.60	%		1.75	%		41.79	%		43.44	%
2019		2,094		22.39		32.28		56,658		0.00	%		0.60	%		1.75	%		31.72	%		33.26	%
Goldman Sachs VIT Mid Cap Value Fund, Institutional Shares
2023		119		49.84		41.07		5,688		1.01	%		0.60	%		1.80	%		10.75	%		9.42	%
2022		129		45.00		37.53		5,593		0.63	%		0.60	%		1.80	%		(10.53	)%		(11.60	)%
2021		148		50.29		42.46		7,163		0.47	%		0.60	%		1.80	%		30.17	%		28.60	%
2020		160		33.01		39.92		6,009		0.55	%		0.60	%		1.80	%		6.45	%		7.75	%
2019		179		31.01		37.08		6,248		0.82	%		0.60	%		1.80	%		29.16	%		30.74	%
Goldman Sachs VIT Mid Cap Value Fund, Service Shares
2023		3,583		11.19		24.37		100,099		0.64	%		0.65	%		1.75	%		8.60	%		9.17	%
2022		2,681		28.56		22.32		68,255		0.31	%		0.70	%		1.75	%		(10.86	)%		(11.80	)%
2021		5,041		32.04		25.30		144,009		0.20	%		0.70	%		1.75	%		29.66	%		28.29	%
2020		6,189		11.38		24.71		138,656		0.36	%		0.70	%		1.75	%		6.30	%		7.44	%
2019		7,414		14.96		23.00		154,879		0.76	%		0.70	%		1.75	%		28.88	%		30.25	%
Goldman Sachs VIT Small Cap Equity Insights Fund, Institutional Shares
2023		266		38.20		68.22		17,957		0.99	%		0.60	%		1.80	%		18.56	%		17.14	%
2022		295		32.22		58.24		16,934		0.28	%		0.60	%		1.80	%		(19.86	)%		(20.83	)%
2021		326		40.21		73.56		23,603		0.47	%		0.60	%		1.80	%		23.05	%		21.57	%
2020		384		26.22		67.93		22,712		0.19	%		0.60	%		1.80	%		6.63	%		7.93	%
2019		424		24.56		63.35		23,315		0.49	%		0.60	%		1.80	%		22.60	%		24.10	%

190

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Goldman Sachs VIT Small Cap Equity Insights Fund, Service Shares
2023		314	$	34.00	$	37.65	$	10,305		0.79	%		0.70	%		1.65	%		18.12	%		17.00	%
2022		334		28.78		32.18		9,515		0.08	%		0.70	%		1.65	%		(20.20	)%		(20.96	)%
2021		358		36.07		40.71		12,807		0.23	%		0.70	%		1.65	%		22.63	%		21.46	%
2020		458		26.36		44.02		13,503		0.00	%		0.70	%		1.65	%		6.58	%		7.61	%
2019		473		24.71		40.95		13,000		0.20	%		0.70	%		1.65	%		22.48	%		23.66	%
Goldman Sachs VIT Strategic Growth Fund, Institutional Shares
2023		415		60.44		91.45		29,770		0.00	%		0.60	%		1.80	%		41.09	%		39.40	%
2022		475		42.84		65.61		24,289		0.00	%		0.60	%		1.80	%		(32.92	)%		(33.73	)%
2021		505		63.86		98.99		39,127		0.00	%		0.60	%		1.80	%		21.20	%		19.73	%
2020		586		41.29		92.82		37,639		0.08	%		0.60	%		1.80	%		37.98	%		39.66	%
2019		693		29.71		66.89		31,617		0.29	%		0.60	%		1.80	%		33.09	%		34.72	%
Goldman Sachs VIT Strategic Growth Fund, Service Shares
2023		3,827		14.15		40.38		153,994		0.00	%		0.30	%		1.75	%		41.23	%		39.18	%
2022		2,278		10.02		29.01		75,642		0.00	%		0.30	%		1.75	%		(32.88	)%		(33.86	)%
2021		4,005		14.93		43.86		197,980		0.00	%		0.30	%		1.75	%		21.19	%		19.43	%
2020		4,773		15.04		61.74		199,113		0.00	%		0.70	%		1.75	%		37.66	%		39.13	%
2019		6,211		10.82		44.42		188,489		0.06	%		0.70	%		1.75	%		4.23	%		34.37	%
Goldman Sachs VIT Trend Driven Allocation, Service Shares
2023		506		13.01		12.72		6,548		1.70	%		1.00	%		1.75	%		14.42	%		13.56	%
2022		526		11.37		11.20		6,039		0.00	%		1.00	%		1.75	%		(19.97	)%		(20.57	)%
2021		502		14.21		14.10		7,291		0.00	%		1.00	%		1.75	%		15.01	%		14.14	%
2020		514		12.35		12.80		6,519		0.25	%		1.00	%		1.75	%		2.29	%		3.07	%
2019		604		11.99		12.46		7,464		1.47	%		1.00	%		1.75	%		9.98	%		10.82	%
Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Shares
2023		296		47.78		86.58		23,607		0.67	%		0.60	%		1.80	%		23.07	%		21.59	%
2022		340		38.83		71.21		22,307		0.73	%		0.60	%		1.80	%		(20.22	)%		(21.18	)%
2021		389		48.67		90.34		32,337		0.80	%		0.60	%		1.80	%		28.63	%		27.08	%
2020		438		30.50		79.81		28,662		0.79	%		0.60	%		1.80	%		15.43	%		16.84	%
2019		494		26.24		68.75		27,924		1.26	%		0.60	%		1.80	%		22.96	%		24.46	%

191

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Goldman Sachs VIT U.S. Equity Insights Fund, Service Shares
2023		15	$	37.99	$	44.84	$	680		0.45	%		0.70	%		1.65	%		22.73	%		21.56	%
2022		17		30.95		36.89		647		0.55	%		0.70	%		1.65	%		(20.46	)%		(21.22	)%
2021		18		38.92		46.83		872		0.57	%		0.70	%		1.65	%		28.21	%		26.99	%
2020		20		27.21		47.03		740		0.58	%		0.70	%		1.65	%		15.39	%		16.50	%
2019		22		23.55		40.41		736		1.02	%		0.70	%		1.65	%		22.87	%		24.05	%
Guggenheim Floating Rate Strategies, Series F
2023		254		12.80		12.80		3,246		3.49	%		1.00	%		1.00	%		10.02	%		10.02	%
2022		300		11.64		11.64		3,414		2.68	%		1.00	%		1.00	%		(1.84	)%		(1.84	)%
2021		309		11.86		11.86		3,669		2.75	%		1.00	%		1.00	%		1.48	%		1.48	%
2020		340		11.68		11.68		3,976		4.01	%		1.00	%		1.00	%		(0.99	)%		(0.99	)%
2019		469		11.80		11.80		5,529		3.75	%		1.00	%		1.00	%		6.53	%		6.53	%
Guggenheim Global Managed Futures Strategy Fund
2023		37		11.50		11.50		431		3.46	%		1.00	%		1.00	%		2.77	%		2.77	%
2022		51		11.19		11.19		566		3.75	%		1.00	%		1.00	%		10.18	%		10.18	%
2021		37		10.15		10.15		378		0.00	%		1.00	%		1.00	%		(0.07	)%		(0.07	)%
2020		190		10.16		10.16		1,929		7.53	%		1.00	%		1.00	%		1.57	%		1.57	%
2019		168		10.00		10.00		1,685		0.36	%		1.00	%		1.00	%		7.06	%		7.06	%
Guggenheim Long Short Equity Fund
2023		13		13.27		13.27		166		0.17	%		1.00	%		1.00	%		11.63	%		11.63	%
2022		11		11.88		11.88		130		0.41	%		1.00	%		1.00	%		(15.24	)%		(15.24	)%
2021		12		14.02		14.02		168		0.86	%		1.00	%		1.00	%		22.56	%		22.56	%
2020		15		11.44		11.44		167		0.67	%		1.00	%		1.00	%		3.88	%		3.88	%
2019		22		11.01		11.01		243		0.49	%		1.00	%		1.00	%		4.48	%		4.48	%

192

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Guggenheim Multi-Hedge Strategies Fund
2023		44	$	11.76	$	11.76	$	517		2.83	%		1.00	%		1.00	%		3.33	%		3.33	%
2022		54		11.38		11.38		619		1.28	%		1.00	%		1.00	%		(4.36	)%		(4.36	)%
2021		60		11.90		11.90		712		0.00	%		1.00	%		1.00	%		7.02	%		7.02	%
2020		106		11.12		11.12		1,183		1.66	%		1.00	%		1.00	%		6.32	%		6.32	%
2019		70		10.46		10.46		728		2.38	%		1.00	%		1.00	%		3.96	%		3.96	%
Invesco V.I. American Franchise Fund, Series I
2023		280		23.44		18.70		5,896		0.00	%		0.70	%		1.65	%		39.94	%		38.61	%
2022		308		16.75		13.49		4,652		0.00	%		0.70	%		1.65	%		(31.59	)%		(32.25	)%
2021		333		24.48		19.91		7,392		0.00	%		0.70	%		1.65	%		11.14	%		10.08	%
2020		395		18.09		22.03		7,874		0.07	%		0.70	%		1.65	%		40.01	%		41.36	%
2019		423		12.92		15.58		6,020		0.00	%		0.70	%		1.65	%		34.50	%		35.80	%
Invesco V.I. American Franchise Fund, Series II
2023		88		55.37		44.14		2,544		0.00	%		0.60	%		1.70	%		39.76	%		38.22	%
2022		111		39.62		31.93		2,275		0.00	%		0.60	%		1.70	%		(31.71	)%		(32.46	)%
2021		115		58.01		47.28		3,506		0.00	%		0.60	%		1.70	%		10.98	%		9.75	%
2020		132		17.31		64.18		3,542		0.00	%		0.60	%		1.70	%		39.59	%		41.15	%
2019		160		12.40		45.56		3,056		0.00	%		0.60	%		1.70	%		34.11	%		35.61	%
Invesco V.I. American Value Fund, Series II
2023		2,855		36.39		23.82		72,564		0.36	%		0.60	%		1.75	%		14.60	%		13.28	%
2022		3,374		31.76		21.03		75,694		0.32	%		0.60	%		1.75	%		(3.44	)%		(4.56	)%
2021		4,000		32.89		22.03		93,953		0.24	%		0.60	%		1.75	%		26.86	%		25.40	%
2020		4,329		11.00		25.93		86,143		0.48	%		0.60	%		1.75	%		(0.91	)%		0.25	%
2019		4,204		10.98		25.86		86,258		0.46	%		0.60	%		1.75	%		4.66	%		23.96	%
Invesco V.I. Balanced-Risk Allocation Fund Class, Series II
2023		3,277		18.49		13.58		50,444		0.00	%		0.60	%		1.75	%		5.76	%		4.54	%
2022		3,795		17.48		12.99		55,653		7.06	%		0.60	%		1.75	%		(15.03	)%		(16.01	)%
2021		4,135		20.57		15.46		71,963		3.01	%		0.60	%		1.75	%		8.61	%		7.35	%
2020		4,430		14.40		18.94		71,332		6.97	%		0.60	%		1.75	%		8.07	%		9.33	%
2019		5,257		13.33		17.33		77,772		0.00	%		0.60	%		1.75	%		12.88	%		14.19	%

193

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Invesco V.I. Capital Appreciation Fund, Series I
2023		134	$	46.74	$	54.06	$	7,566		0.00	%		0.70	%		1.80	%		34.43	%		32.95	%
2022		151		34.76		40.66		6,361		0.00	%		0.70	%		1.80	%		(31.27	)%		(32.03	)%
2021		169		50.58		59.82		10,454		0.00	%		0.70	%		1.80	%		21.71	%		20.37	%
2020		183		38.27		55.79		9,352		0.00	%		0.70	%		1.80	%		34.13	%		35.63	%
2019		214		28.33		41.36		8,121		0.06	%		0.70	%		1.80	%		33.75	%		35.24	%
Invesco V.I. Capital Appreciation Fund, Series II
2023		1,324		44.84		51.36		53,150		0.00	%		0.60	%		1.80	%		34.22	%		32.61	%
2022		734		33.41		38.73		23,130		0.00	%		0.60	%		1.80	%		(31.38	)%		(32.20	)%
2021		1,628		48.68		57.13		71,762		0.00	%		0.60	%		1.80	%		21.55	%		20.08	%
2020		1,910		14.73		53.41		70,047		0.00	%		0.60	%		1.80	%		33.79	%		35.42	%
2019		2,644		10.90		39.70		71,944		0.00	%		0.60	%		1.80	%		4.46	%		35.03	%
Invesco V.I. Comstock Fund, Series I
2023		429		57.78		44.47		21,929		1.78	%		0.70	%		1.80	%		11.58	%		10.35	%
2022		488		51.78		40.30		22,482		1.56	%		0.70	%		1.80	%		0.42	%		(0.69	)%
2021		552		51.57		40.58		25,467		1.89	%		0.70	%		1.80	%		32.43	%		30.97	%
2020		618		30.98		38.94		21,630		2.08	%		0.70	%		1.80	%		(2.64	)%		(1.55	)%
2019		693		31.82		39.55		24,752		1.98	%		0.70	%		1.80	%		23.05	%		24.42	%
Invesco V.I. Comstock Fund, Series II
2023		3,518		18.65		42.22		140,490		1.45	%		0.30	%		1.80	%		11.76	%		10.09	%
2022		3,849		16.69		38.36		142,635		1.06	%		0.30	%		1.80	%		0.54	%		(0.96	)%
2021		4,665		37.71		38.73		174,716		1.60	%		0.60	%		1.80	%		32.25	%		30.65	%
2020		5,582		10.74		37.25		163,172		1.59	%		0.60	%		1.80	%		(2.87	)%		(1.68	)%
2019		5,848		10.94		37.93		174,628		1.78	%		0.60	%		1.80	%		4.40	%		24.19	%
Invesco V.I. Conservative Balanced Fund, Series II
2023		3,672		10.08		9.80		36,240		2.30	%		0.30	%		1.30	%		11.97	%		10.85	%
2022		1,436		9.01		8.84		11,948		1.74	%		0.30	%		1.30	%		(17.27	)%		(18.10	)%
2021		107		10.89		10.80		1,125		0.67	%		0.30	%		1.30	%		4.76	%		3.89	%

194

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Invesco V.I. Discovery Mid Cap Growth Fund, Series I
2023		75	$	35.30	$	40.76	$	3,226		0.00	%		0.70	%		1.80	%		12.36	%		11.12	%
2022		80		31.42		36.68		3,094		0.00	%		0.70	%		1.80	%		(31.46	)%		(32.22	)%
2021		84		45.84		54.12		4,884		0.00	%		0.70	%		1.80	%		18.27	%		16.96	%
2020		94		37.53		51.95		4,638		0.03	%		0.70	%		1.80	%		38.16	%		39.71	%
2019		73		26.90		37.39		2,580		0.00	%		0.70	%		1.80	%		36.86	%		38.39	%
Invesco V.I. Discovery Mid Cap Growth Fund, Series II
2023		1,126		41.93		12.97		29,371		0.00	%		0.60	%		1.75	%		12.18	%		10.88	%
2022		834		37.38		11.70		22,744		0.00	%		0.60	%		1.75	%		(31.54	)%		(32.33	)%
2021		1,138		54.60		17.29		40,110		0.00	%		0.60	%		1.75	%		18.08	%		16.72	%
2020		1,370		14.81		116.50		47,696		0.00	%		0.60	%		1.75	%		37.86	%		39.40	%
2019		28		24.59		46.89		892		0.00	%		0.60	%		1.80	%		36.51	%		38.18	%
Invesco V.I. Equity and Income Fund, Series II
2023		7,458		35.21		31.00		190,597		1.35	%		0.60	%		1.80	%		9.58	%		8.26	%
2022		4,817		32.13		28.64		130,536		1.02	%		0.60	%		1.80	%		(8.27	)%		(9.37	)%
2021		8,550		35.02		31.60		239,777		1.64	%		0.60	%		1.80	%		17.64	%		16.22	%
2020		9,781		11.51		33.07		235,750		1.86	%		0.60	%		1.80	%		7.68	%		8.99	%
2019		11,548		17.02		30.38		255,029		2.95	%		0.60	%		1.80	%		17.85	%		19.29	%
Invesco V.I. EQV International Equity Fund, Series II
2023		3,176		16.63		15.02		51,552		0.00	%		0.60	%		1.75	%		17.16	%		15.81	%
2022		1,975		14.19		12.53		27,253		1.10	%		0.60	%		1.65	%		(18.99	)%		(19.85	)%
2021		2,480		17.52		16.20		42,582		0.92	%		0.60	%		1.75	%		4.97	%		3.76	%
2020		4,418		12.03		16.83		73,418		1.82	%		0.60	%		1.75	%		11.75	%		13.06	%
2019		5,531		10.65		14.93		81,640		1.80	%		0.60	%		1.75	%		4.19	%		27.47	%
Invesco V.I. Global Fund, Series I
2023		114		62.41		61.92		7,370		0.22	%		0.70	%		1.80	%		33.80	%		32.32	%
2022		130		46.64		46.79		6,366		0.00	%		0.70	%		1.80	%		(32.24	)%		(32.99	)%
2021		140		68.84		69.83		10,150		0.00	%		0.70	%		1.80	%		14.68	%		13.41	%
2020		152		55.28		69.12		9,721		0.62	%		0.70	%		1.80	%		25.34	%		26.75	%
2019		170		43.79		54.84		8,589		0.94	%		0.70	%		1.80	%		29.42	%		30.87	%

195

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Invesco V.I. Global Fund, Series II
2023		5,804	$	44.45	$	58.90	$	240,763		0.00	%		0.60	%		1.80	%		33.64	%		32.04	%
2022		4,390		33.26		44.61		161,988		0.00	%		0.60	%		1.80	%		(32.34	)%		(33.16	)%
2021		6,841		49.17		66.74		315,560		0.00	%		0.60	%		1.80	%		14.48	%		13.10	%
2020		8,258		13.95		66.24		336,381		0.38	%		0.60	%		1.80	%		25.05	%		26.57	%
2019		11,046		19.09		52.68		352,148		0.71	%		0.60	%		1.80	%		29.09	%		30.67	%
Invesco V.I. Global Real Estate Fund, Series II
2023		747		9.91		12.53		9,429		0.91	%		0.65	%		1.75	%		6.93	%		6.93	%
2022		238		8.16		11.72		2,650		0.85	%		0.75	%		1.75	%		(25.70	)%		(26.45	)%
2021		954		10.99		15.93		15,180		2.68	%		0.75	%		1.75	%		24.50	%		23.25	%
2020		965		8.83		13.94		12,573		0.84	%		0.75	%		1.75	%		(14.09	)%		(13.22	)%
2019		1,150		13.44		16.08		17,271		5.29	%		0.90	%		1.75	%		20.50	%		21.54	%
Invesco V.I. Global Strategic Income Fund
2023		242		24.33		19.23		5,147		0.00	%		0.70	%		1.80	%		8.12	%		6.93	%
2022		250		22.50		17.98		4,963		0.00	%		0.70	%		1.80	%		(12.08	)%		(13.05	)%
2021		285		25.60		20.68		6,476		4.47	%		0.70	%		1.80	%		(4.09	)%		(5.15	)%
2020		318		21.80		26.69		7,581		5.39	%		0.70	%		1.80	%		1.54	%		2.68	%
2019		367		21.47		25.99		8,564		3.90	%		0.70	%		1.80	%		8.81	%		10.03	%
Invesco V.I. Global Strategic Income Fund, Series II
2023		13,732		17.49		9.79		208,302		0.00	%		0.60	%		1.75	%		7.95	%		6.71	%
2022		15,879		16.20		17.11		223,228		0.00	%		0.60	%		1.80	%		(12.24	)%		(13.30	)%
2021		17,363		18.47		19.74		280,436		4.32	%		0.60	%		1.80	%		(4.14	)%		(5.30	)%
2020		17,132		10.47		25.51		289,028		5.00	%		0.60	%		1.80	%		1.14	%		2.37	%
2019		18,912		11.03		24.94		309,886		3.44	%		0.60	%		1.80	%		8.62	%		9.94	%
Invesco V.I. Government Securities Fund, Series II
2023		11,767		9.11		9.16		117,590		1.78	%		0.30	%		1.75	%		4.15	%		2.64	%
2022		12,704		8.74		8.93		122,686		1.65	%		0.30	%		1.75	%		(10.84	)%		(12.14	)%
2021		13,796		9.81		10.16		150,617		2.34	%		0.30	%		1.75	%		(2.73	)%		(4.14	)%
2020		11,671		10.47		12.12		132,867		2.17	%		0.60	%		1.75	%		4.12	%		5.34	%
2019		11,593		9.95		11.51		126,240		2.16	%		0.60	%		1.75	%		(0.32	)%		5.12	%

196

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Invesco V.I. Growth and Income Fund, Series I
2023		592	$	46.64	$	35.90	$	24,247		1.58	%		0.70	%		1.80	%		11.88	%		10.64	%
2022		668		41.69		32.44		24,605		1.58	%		0.70	%		1.80	%		(6.41	)%		(7.44	)%
2021		736		44.54		35.05		29,154		1.60	%		0.70	%		1.80	%		27.61	%		26.20	%
2020		806		27.78		34.91		25,146		1.94	%		0.70	%		1.80	%		0.26	%		1.38	%
2019		923		27.70		34.43		28,544		1.86	%		0.70	%		1.80	%		22.94	%		24.32	%
Invesco V.I. Growth and Income Fund, Series II
2023		13,324		40.52		34.07		440,773		0.98	%		0.60	%		1.80	%		11.73	%		10.39	%
2022		10,665		36.27		30.87		330,787		0.73	%		0.60	%		1.80	%		(6.56	)%		(7.69	)%
2021		18,938		38.82		33.44		604,214		1.32	%		0.60	%		1.80	%		27.42	%		25.89	%
2020		23,895		10.91		33.38		602,185		1.30	%		0.60	%		1.80	%		0.02	%		1.24	%
2019		26,686		19.68		33.01		662,091		1.81	%		0.60	%		1.80	%		22.61	%		24.10	%
Invesco V.I. Main Street Fund, Series I
2023		156		39.49		40.83		6,695		0.82	%		0.70	%		1.80	%		22.36	%		21.01	%
2022		180		32.27		33.74		6,390		1.34	%		0.70	%		1.80	%		(20.69	)%		(21.57	)%
2021		203		40.69		43.02		9,111		0.70	%		0.70	%		1.80	%		26.68	%		25.28	%
2020		227		29.59		38.55		8,118		1.35	%		0.70	%		1.80	%		11.89	%		13.15	%
2019		265		26.25		34.26		8,432		1.11	%		0.70	%		1.80	%		29.71	%		31.16	%
Invesco V.I. Main Street Fund, Series II
2023		3,521		14.49		30.58		98,009		0.48	%		0.30	%		1.75	%		22.46	%		20.69	%
2022		3,658		11.83		25.34		82,440		0.95	%		0.30	%		1.75	%		(20.55	)%		(21.70	)%
2021		4,303		14.89		32.36		128,947		0.53	%		0.30	%		1.75	%		26.85	%		25.01	%
2020		3,849		12.08		42.86		105,790		1.08	%		0.60	%		1.75	%		11.71	%		13.01	%
2019		3,842		10.70		38.01		100,516		0.91	%		0.60	%		1.75	%		3.80	%		30.95	%
Invesco V.I. Main Street Mid Cap Fund, Series II
2023		8		11.02		10.81		89		0.36	%		0.65	%		1.20	%		6.41	%		14.02	%
Invesco V.I. Main Street Small Cap Fund, Series II
2023		584		11.06		10.21		6,210		1.60	%		0.30	%		1.20	%		17.47	%		16.41	%
2022		77		9.42		8.77		667		0.42	%		0.30	%		1.20	%		(16.29	)%		(4.97	)%
2021		9		10.16		11.19		96		0.04	%		0.75	%		1.00	%		(6.20	)%		3.23	%

197

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Invesco V.I. Small Cap Equity Fund, Series II
2023		826	$	10.61	$	20.75	$	16,532		0.00	%		0.65	%		1.75	%		7.18	%		14.23	%
2022		644		12.66		18.36		11,147		0.00	%		0.75	%		1.65	%		(21.32	)%		(22.04	)%
2021		813		16.09		23.32		18,390		0.00	%		0.75	%		1.75	%		19.19	%		18.00	%
2020		940		13.50		21.31		18,931		0.02	%		0.75	%		1.75	%		24.65	%		25.92	%
2019		1,043		10.72		16.95		17,145		0.00	%		0.75	%		1.75	%		3.49	%		25.19	%
Invesco V.I. U.S. Government Money Portfolio, Series I
2023		66,368		10.48		1.14		258,897		4.37	%		0.30	%		1.80	%		4.22	%		2.66	%
2022		286,778		10.05		1.11		1,752,409		2.38	%		0.30	%		1.80	%		0.96	%		(0.55	)%
2021		99,001		10.96		1.12		421,721		0.01	%		0.60	%		1.80	%		(0.59	)%		(1.79	)%
2020		84,777		0.91		11.03		326,367		0.32	%		0.60	%		1.80	%		(1.59	)%		(0.38	)%
2019		87,525		0.92		11.07		330,128		1.22	%		0.60	%		1.80	%		(0.12	)%		1.10	%
Janus Henderson Forty Fund, Class S
2023		136		10.48		10.48		1,426		0.25	%		1.20	%		1.20	%		37.98	%		37.98	%
2022		8		7.60		7.60		63		0.12	%		1.20	%		1.20	%		(9.44	)%		(9.44	)%
Janus Henderson Global Sustainable Equity Fund
2023		1		10.23		10.23		11		3.02	%		1.20	%		1.20	%		7.79	%		7.79	%
Janus Henderson Overseas Fund, Class S
2023		73		10.34		10.34		752		1.76	%		1.20	%		1.20	%		9.26	%		9.26	%
2022		4		9.46		9.46		36		1.73	%		1.20	%		1.20	%		5.91	%		5.91	%
Janus Henderson VIT Balanced Portfolio, Service Shares
2023		538		10.86		10.09		5,455		2.31	%		0.65	%		1.20	%		4.35	%		13.76	%
2022		86		8.87		8.87		765		0.80	%		1.20	%		1.20	%		(5.03	)%		(5.03	)%
Janus Henderson VIT Global Technology and Innovation Portfolio, Service Shares
2023		103		11.34		11.34		1,174		0.00	%		1.20	%		1.20	%		52.43	%		52.43	%
2022		5		7.44		7.44		35		0.00	%		1.20	%		1.20	%		(11.78	)%		(11.78	)%

198

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Lord Abbett Series Fund Bond Debenture Portfolio
2023		28,383	$	10.41	$	23.45	$	477,167		5.09	%		0.30	%		1.80	%		6.23	%		4.64	%
2022		29,193		9.79		22.41		478,616		4.22	%		0.30	%		1.80	%		(13.06	)%		(14.37	)%
2021		29,804		11.27		26.17		583,809		3.10	%		0.30	%		1.80	%		2.97	%		1.42	%
2020		28,054		10.84		31.76		556,026		3.51	%		0.60	%		1.80	%		5.38	%		6.66	%
2019		31,794		10.18		29.81		594,211		3.83	%		0.60	%		1.80	%		1.46	%		12.67	%
Lord Abbett Series Fund Fundamental Equity Portfolio
2023		5,266		32.38		21.94		141,489		0.62	%		0.60	%		1.75	%		13.95	%		12.64	%
2022		3,425		28.42		19.48		83,754		0.72	%		0.60	%		1.75	%		(12.51	)%		(13.52	)%
2021		7,318		32.48		22.53		198,617		0.79	%		0.60	%		1.75	%		26.55	%		25.09	%
2020		8,911		10.76		25.67		192,293		1.07	%		0.60	%		1.75	%		(0.01	)%		1.16	%
2019		10,094		18.01		25.37		215,567		1.65	%		0.60	%		1.75	%		19.39	%		20.79	%
Lord Abbett Series Fund Growth and Income Portfolio
2023		1,711		34.11		27.50		56,006		0.92	%		0.60	%		1.80	%		12.51	%		11.16	%
2022		1,927		30.32		24.74		56,411		1.19	%		0.60	%		1.80	%		(9.98	)%		(11.06	)%
2021		2,210		33.68		27.82		72,039		1.02	%		0.60	%		1.80	%		28.25	%		26.70	%
2020		2,617		19.29		31.47		66,910		1.49	%		0.60	%		1.80	%		0.85	%		2.08	%
2019		2,928		19.12		30.89		73,493		1.64	%		0.60	%		1.80	%		20.29	%		21.76	%
Lord Abbett Series Fund Growth Opportunities Portfolio
2023		1,876		10.04		21.73		54,662		0.00	%		0.30	%		1.75	%		10.34	%		8.74	%
2022		864		9.10		19.98		24,782		0.00	%		0.30	%		1.75	%		(32.73	)%		(33.71	)%
2021		1,179		13.53		30.14		50,134		0.00	%		0.30	%		1.75	%		6.14	%		4.60	%
2020		2,131		14.78		61.25		83,665		0.00	%		0.60	%		1.75	%		36.94	%		38.54	%
2019		2,969		21.04		44.26		84,520		0.00	%		0.60	%		1.75	%		33.98	%		35.55	%

199

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Lord Abbett Series Fund Inc. Dividend Growth Portfolio
2023		3,315	$	14.88	$	47.00	$	102,640		0.81	%		0.30	%		1.80	%		15.98	%		14.24	%
2022		3,382		12.83		41.14		92,723		0.74	%		0.30	%		1.80	%		(13.81	)%		(15.10	)%
2021		4,058		14.88		48.46		135,244		0.71	%		0.30	%		1.80	%		25.24	%		24.47	%
2020		3,888		11.98		47.36		115,152		0.90	%		0.60	%		1.80	%		13.34	%		14.72	%
2019		4,068		10.46		41.33		110,319		1.73	%		0.60	%		1.80	%		3.12	%		25.69	%
Lord Abbett Series Fund Mid Cap Stock Portfolio
2023		1,462		34.02		28.09		45,723		0.47	%		0.60	%		1.80	%		14.73	%		13.35	%
2022		1,477		29.66		24.78		41,275		0.72	%		0.60	%		1.80	%		(11.75	)%		(12.81	)%
2021		1,853		33.60		28.42		57,775		0.57	%		0.60	%		1.80	%		27.93	%		26.39	%
2020		2,169		10.85		31.31		53,473		0.95	%		0.60	%		1.80	%		0.65	%		1.88	%
2019		2,341		16.28		30.79		56,947		0.97	%		0.60	%		1.80	%		20.44	%		21.91	%
Lord Abbett Series Fund Short Duration Income Portfolio
2023		524		9.92		9.65		5,223		6.68	%		0.30	%		1.30	%		4.74	%		3.69	%
2022		233		9.47		9.30		2,179		5.23	%		0.30	%		1.30	%		(5.34	)%		(6.29	)%
2021		24		10.01		9.93		235		2.74	%		0.30	%		1.30	%		(0.05	)%		(0.88	)%
MFS Core Equity Portfolio, Service Class
2023		21		11.09		11.58		233		0.00	%		0.65	%		1.20	%		5.29	%		13.81	%
MFS Emerging Markets Equity Portfolio, Service Class
2023		23		9.83		8.99		227		1.21	%		0.90	%		1.65	%		9.71	%		8.89	%
2022		27		8.96		8.26		238		3.78	%		0.90	%		1.65	%		(20.66	)%		(21.26	)%
2021		27		11.29		10.49		299		0.27	%		0.90	%		1.65	%		(7.86	)%		(8.56	)%
2020		29		11.47		12.48		349		2.53	%		0.90	%		1.65	%		8.51	%		9.34	%
2019		39		10.57		11.42		430		0.40	%		0.90	%		1.65	%		18.20	%		19.10	%
MFS Global Real Estate Portfolio, Service Class
2023		13		10.79		10.79		142		0.00	%		1.20	%		1.20	%		23.82	%		23.82	%

200

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
MFS Growth Series, Initial Class
2023		82	$	53.53	$	67.96	$	5,733		0.00	%		0.70	%		1.80	%		34.92	%		33.43	%
2022		92		39.67		50.93		4,823		0.00	%		0.70	%		1.80	%		(32.11	)%		(32.86	)%
2021		100		58.44		75.86		7,796		0.00	%		0.70	%		1.80	%		22.67	%		21.31	%
2020		115		43.88		70.20		7,379		0.00	%		0.70	%		1.80	%		29.49	%		30.94	%
2019		128		33.64		53.92		6,358		0.00	%		0.70	%		1.80	%		35.67	%		37.18	%
MFS Growth Series, Service Class
2023		758		72.74		40.29		40,793		0.00	%		0.60	%		1.75	%		34.70	%		33.15	%
2022		895		54.00		30.26		37,099		0.00	%		0.60	%		1.75	%		(32.21	)%		(33.00	)%
2021		898		79.67		45.16		54,782		0.00	%		0.60	%		1.75	%		22.50	%		21.08	%
2020		1,091		37.29		67.18		54,233		0.00	%		0.60	%		1.75	%		29.24	%		30.75	%
2019		1,368		28.86		51.72		52,134		0.00	%		0.60	%		1.80	%		35.30	%		36.95	%
MFS International Growth Portfolio, Service Class
2023		30		10.86		10.34		329		0.00	%		0.65	%		1.20	%		5.41	%		2.34	%
MFS International Intrinsic Value Portfolio, Service Class
2023		721		10.85		22.17		16,446		0.46	%		0.65	%		1.30	%		4.77	%		15.85	%
2022		827		19.99		19.14		16,508		0.45	%		0.90	%		1.30	%		(24.44	)%		(24.74	)%
2021		865		26.45		25.43		22,849		0.14	%		0.90	%		1.30	%		9.28	%		8.84	%
2020		1,021		18.88		24.20		24,678		0.73	%		0.90	%		1.30	%		18.65	%		19.13	%
2019		1,290		15.86		20.32		26,178		1.49	%		0.90	%		1.30	%		24.02	%		24.52	%
MFS Investors Trust Series, Initial Class
2023		108		41.71		43.68		4,993		0.71	%		0.70	%		1.80	%		18.15	%		16.85	%
2022		129		35.30		37.38		5,141		0.61	%		0.70	%		1.80	%		(17.07	)%		(17.99	)%
2021		155		42.57		45.58		7,448		0.63	%		0.70	%		1.80	%		25.93	%		24.53	%
2020		176		31.13		41.09		6,771		0.58	%		0.70	%		1.80	%		11.82	%		13.07	%
2019		212		27.65		36.54		7,288		0.70	%		0.70	%		1.80	%		29.22	%		30.66	%

201

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
MFS Investors Trust Series, Service Class
2023		1,018	$	49.59	$	30.55	$	41,072		0.46	%		0.60	%		1.75	%		17.95	%		16.60	%
2022		1,203		42.04		26.20		41,340		0.36	%		0.60	%		1.75	%		(17.19	)%		(18.14	)%
2021		1,366		50.77		32.00		56,861		0.41	%		0.60	%		1.75	%		25.75	%		24.30	%
2020		1,703		25.75		41.89		56,467		0.39	%		0.60	%		1.75	%		11.61	%		12.92	%
2019		2,022		23.07		37.18		59,600		0.49	%		0.60	%		1.75	%		28.95	%		30.46	%
MFS Massachusetts Investors Growth Stock Portfolio, Initial Class
2023		64		27.81		25.22		1,699		0.30	%		0.70	%		1.80	%		23.14	%		21.79	%
2022		71		22.59		20.71		1,528		0.09	%		0.70	%		1.80	%		(19.82	)%		(20.71	)%
2021		80		28.17		26.12		2,148		0.24	%		0.70	%		1.80	%		25.09	%		23.71	%
2020		90		21.11		22.52		1,951		0.42	%		0.70	%		1.80	%		20.06	%		21.47	%
2019		103		17.54		18.51		1,845		0.60	%		0.70	%		1.80	%		37.44	%		38.97	%
MFS Massachusetts Investors Growth Stock Portfolio, Service Class
2023		1,132		27.47		24.80		30,205		0.05	%		0.60	%		1.75	%		22.97	%		21.55	%
2022		1,343		22.34		20.40		29,346		0.00	%		0.60	%		1.75	%		(19.93	)%		(20.85	)%
2021		1,478		27.90		25.78		40,451		0.03	%		0.60	%		1.75	%		24.90	%		23.46	%
2020		1,793		20.88		22.34		39,387		0.21	%		0.60	%		1.75	%		6.28	%		7.53	%
2019		2,201		17.35		18.39		39,929		0.33	%		0.60	%		1.80	%		37.08	%		38.75	%
MFS Mid Cap Growth Series, Service Class
2023		2		11.30		11.31		26		0.00	%		0.65	%		1.20	%		0.80	%		4.87	%
MFS Mid Cap Value Portfolio, Service Class
2023		1		11.24		11.24		16		0.00	%		1.20	%		1.20	%		5.49	%		5.49	%
MFS New Discovery Series, Initial Class
2023		29		62.06		63.87		1,974		0.00	%		0.70	%		1.80	%		13.61	%		12.36	%
2022		31		54.62		56.84		1,858		0.00	%		0.70	%		1.80	%		(30.25	)%		(31.02	)%
2021		35		78.31		82.40		3,043		0.00	%		0.70	%		1.80	%		1.09	%		(0.03	)%
2020		38		71.34		92.53		3,296		0.00	%		0.70	%		1.80	%		43.27	%		44.87	%
2019		44		49.45		64.23		2,659		0.00	%		0.70	%		1.80	%		39.15	%		40.71	%

202

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
MFS New Discovery Series, Service Class
2023		868	$	49.00	$	23.69	$	45,900		0.00	%		0.60	%		1.75	%		13.57	%		12.26	%
2022		969		43.15		21.10		45,049		0.00	%		0.60	%		1.75	%		(30.41	)%		(31.22	)%
2021		871		62.01		30.68		57,785		0.00	%		0.60	%		1.75	%		0.96	%		(0.20	)%
2020		1,048		30.74		88.51		69,095		0.00	%		0.60	%		1.75	%		43.04	%		44.71	%
2019		1,424		21.49		61.57		64,809		0.00	%		0.60	%		1.80	%		38.74	%		40.43	%
MFS Research Series, Initial Class
2023		96		46.11		48.24		4,946		0.51	%		0.70	%		1.80	%		21.57	%		20.23	%
2022		102		37.93		40.13		4,368		0.45	%		0.70	%		1.80	%		(17.79	)%		(18.70	)%
2021		120		46.14		49.36		6,260		0.53	%		0.70	%		1.80	%		23.93	%		22.56	%
2020		138		34.29		45.21		5,838		0.68	%		0.70	%		1.80	%		14.50	%		15.78	%
2019		154		29.73		39.26		5,674		0.79	%		0.70	%		1.80	%		30.56	%		32.02	%
MFS Research Series, Service Class
2023		71		54.72		32.30		3,230		0.25	%		0.60	%		1.75	%		21.39	%		19.99	%
2022		80		45.08		26.92		3,011		0.18	%		0.60	%		1.75	%		(17.93	)%		(18.87	)%
2021		89		54.93		33.18		4,109		0.33	%		0.60	%		1.75	%		23.77	%		22.34	%
2020		102		27.12		46.54		3,854		0.49	%		0.60	%		1.75	%		14.28	%		15.62	%
2019		116		23.73		40.33		3,800		0.60	%		0.60	%		1.75	%		30.29	%		31.81	%
MFS Total Return Bond Series, Service Class
2023		24,119		13.52		10.57		292,815		2.94	%		0.60	%		1.75	%		6.49	%		5.26	%
2022		26,559		12.70		10.04		303,873		2.39	%		0.60	%		1.75	%		(14.70	)%		(15.68	)%
2021		29,030		14.89		11.91		391,163		2.54	%		0.60	%		1.75	%		(1.66	)%		(2.80	)%
2020		29,238		12.25		15.14		401,842		3.09	%		0.60	%		1.75	%		6.28	%		7.53	%
2019		33,789		11.53		14.08		433,094		3.16	%		0.60	%		1.75	%		8.00	%		9.26	%
MFS Total Return Series, Initial Class
2023		377		37.38		35.55		14,261		2.01	%		0.70	%		1.80	%		9.67	%		8.46	%
2022		438		34.08		32.77		15,229		1.62	%		0.70	%		1.80	%		(10.21	)%		(11.20	)%
2021		495		37.96		36.91		19,285		1.82	%		0.70	%		1.80	%		13.32	%		12.07	%
2020		561		30.85		36.97		19,408		2.11	%		0.70	%		1.80	%		7.84	%		9.05	%
2019		639		28.41		34.10		20,408		2.36	%		0.70	%		1.80	%		18.22	%		19.54	%

203

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
MFS Total Return Series, Service Class
2023		1,284	$	29.10	$	33.76	$	39,421		1.82	%		0.60	%		1.80	%		9.56	%		8.24	%
2022		1,465		26.56		31.19		41,300		1.40	%		0.60	%		1.80	%		(10.38	)%		(11.46	)%
2021		1,682		29.63		35.23		53,045		1.62	%		0.60	%		1.80	%		13.15	%		11.79	%
2020		1,846		17.85		35.38		51,632		1.92	%		0.60	%		1.80	%		7.55	%		8.86	%
2019		2,126		16.58		32.71		54,427		2.15	%		0.60	%		1.80	%		17.96	%		19.40	%
MFS Utilities Series, Initial Class
2023		31		57.65		51.60		1,684		3.51	%		0.70	%		1.65	%		(2.79	)%		(3.72	)%
2022		31		59.30		53.59		1,761		2.48	%		0.70	%		1.65	%		0.05	%		(0.90	)%
2021		33		59.27		54.08		1,884		1.62	%		0.70	%		1.65	%		13.29	%		12.21	%
2020		40		48.18		52.32		2,019		2.25	%		0.70	%		1.65	%		4.16	%		5.16	%
2019		50		46.00		50.02		2,382		3.99	%		0.70	%		1.65	%		23.01	%		24.19	%
MFS Utilities Series, Service Class
2023		467		54.63		19.20		17,690		3.33	%		0.60	%		1.75	%		(2.91	)%		(4.03	)%
2022		504		56.27		20.01		19,638		2.10	%		0.60	%		1.75	%		(0.12	)%		(1.27	)%
2021		642		56.34		20.27		25,021		1.48	%		0.60	%		1.75	%		13.14	%		11.83	%
2020		737		18.12		50.04		25,441		2.06	%		0.60	%		1.75	%		3.78	%		4.99	%
2019		859		17.46		47.97		27,706		3.82	%		0.60	%		1.75	%		22.62	%		24.05	%
MFS Value Series, Service Class
2023		4,319		36.91		26.93		142,788		1.40	%		0.60	%		1.75	%		6.99	%		5.76	%
2022		4,835		34.50		25.46		150,061		1.07	%		0.60	%		1.75	%		(6.70	)%		(7.78	)%
2021		5,868		36.98		27.61		196,057		1.14	%		0.60	%		1.75	%		24.41	%		22.97	%
2020		7,186		22.45		29.72		193,873		1.23	%		0.60	%		1.75	%		1.42	%		2.60	%
2019		7,799		22.14		28.97		205,858		1.94	%		0.60	%		1.75	%		27.24	%		28.73	%
Morgan Stanley VIF Core Plus Fixed Income Portfolio
2023		-		-		-		-		1.03	%		1.20	%		1.20	%		1.88	%		1.88	%
2022		4		9.04		9.04		39		0.00	%		1.20	%		1.20	%		(1.44	)%		(1.44	)%

204

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Morgan Stanley VIF Global Real Estate Portfolio, Class II
2023		400	$	13.10	$	10.85	$	5,087		1.92	%		0.60	%		1.75	%		9.81	%		8.54	%
2022		426		11.93		10.00		5,023		3.95	%		0.60	%		1.75	%		(26.64	)%		(27.49	)%
2021		457		16.26		13.78		7,402		4.03	%		0.60	%		1.75	%		23.09	%		21.67	%
2020		536		11.33		23.35		1,330		5.87	%		0.60	%		1.75	%		(16.34	)%		(15.36	)%
2019		506		13.54		27.64		7,949		2.70	%		0.60	%		1.75	%		15.99	%		17.35	%
Morgan Stanley VIF Global Strategist Portfolio
2023		20		9.76		9.76		198		1.30	%		1.20	%		1.20	%		12.58	%		12.58	%
2022		2		8.67		8.67		17		0.00	%		1.20	%		1.20	%		(1.27	)%		(1.27	)%
PIMCO All Asset Portfolio
2023		372		12.03		12.96		5,005		3.03	%		0.75	%		1.75	%		7.21	%		6.14	%
2022		175		11.22		12.21		2,183		4.43	%		0.75	%		1.75	%		(12.53	)%		(13.41	)%
2021		518		12.83		14.10		7,526		11.08	%		0.75	%		1.75	%		15.17	%		14.01	%
2020		580		11.14		13.33		7,363		3.06	%		0.75	%		1.75	%		6.02	%		7.10	%
2019		730		10.40		12.47		8,691		4.47	%		0.75	%		1.75	%		2.92	%		10.74	%
PIMCO Commodity RealReturn Strategy Portfolio, Advisor Class
2023		1		8.63		8.63		5		15.77	%		0.30	%		0.30	%		(8.21	)%		(8.21	)%
2022		1		9.40		9.40		6		10.91	%		0.30	%		0.30	%		(0.74	)%		(0.74	)%
PIMCO Global Diversified Allocation Portfolio
2023		389		13.96		13.15		5,254		3.21	%		1.00	%		1.75	%		12.51	%		11.67	%
2022		400		12.40		11.78		4,891		4.36	%		1.00	%		1.75	%		(17.44	)%		(18.06	)%
2021		446		15.02		14.37		6,630		9.81	%		1.00	%		1.75	%		7.43	%		6.62	%
2020		471		13.48		13.99		6,534		2.86	%		1.00	%		1.75	%		2.18	%		2.95	%
2019		542		13.20		13.61		7,332		2.66	%		1.00	%		1.75	%		19.49	%		20.40	%
PIMCO High Yield Portfolio, Advisor Class
2023		41		10.35		10.06		419		5.58	%		0.30	%		1.30	%		11.77	%		10.65	%
2022		20		9.26		9.09		186		4.23	%		0.30	%		1.30	%		(10.65	)%		(11.54	)%
2021		12		10.31		10.28		127		1.03	%		1.00	%		1.30	%		0.77	%		0.51	%

205

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
PIMCO Income Portfolio
2023		93	$	10.10	$	9.82	$	920		5.21	%		0.30	%		1.30	%		7.82	%		6.74	%
2022		66		9.37		9.20		613		3.60	%		0.30	%		1.30	%		(8.15	)%		(9.06	)%
2021		36		10.20		10.12		362		0.75	%		0.30	%		1.30	%		0.29	%		(0.53	)%
PIMCO Long-Term U.S. Government Portfolio, Advisor Class
2023		1,778		6.72		10.79		19,529		2.28	%		0.30	%		1.75	%		3.57	%		2.07	%
2022		1,893		6.49		10.57		20,470		1.83	%		0.30	%		1.75	%		(29.16	)%		(30.19	)%
2021		1,953		9.16		15.14		30,193		1.45	%		0.30	%		1.75	%		(5.17	)%		(6.54	)%
2020		1,812		11.34		20.04		30,865		1.86	%		0.60	%		1.75	%		15.22	%		16.57	%
2019		1,454		13.19		17.24		21,626		1.96	%		0.60	%		1.75	%		11.23	%		12.53	%
PIMCO Low Duration Portfolio, Advisor Class
2023		11,696		9.76		9.11		118,346		3.50	%		0.30	%		1.75	%		4.55	%		3.04	%
2022		12,973		9.33		8.85		126,469		1.54	%		0.30	%		1.75	%		(6.12	)%		(7.48	)%
2021		14,088		9.94		9.56		147,419		0.43	%		0.30	%		1.75	%		(1.32	)%		(2.76	)%
2020		11,792		9.83		11.75		126,694		1.08	%		0.60	%		1.75	%		1.09	%		2.27	%
2019		11,779		9.73		11.49		124,470		2.67	%		0.60	%		1.75	%		0.24	%		3.30	%
PIMCO Real Return Portfolio, Advisor Class
2023		18,755		9.98		10.21		216,877		2.89	%		0.30	%		1.75	%		3.26	%		1.76	%
2022		20,877		9.67		10.03		235,467		6.75	%		0.30	%		1.75	%		(12.26	)%		(13.53	)%
2021		23,187		11.02		11.60		300,617		4.94	%		0.30	%		1.75	%		5.16	%		3.64	%
2020		23,001		11.19		14.49		285,898		1.29	%		0.60	%		1.75	%		9.65	%		10.93	%
2019		28,164		10.13		13.06		315,853		1.57	%		0.60	%		1.75	%		0.62	%		7.68	%
PIMCO Short-Term Portfolio, Advisor Class
2023		6,992		10.50		9.85		74,504		4.38	%		0.30	%		1.75	%		5.48	%		3.96	%
2022		6,783		9.95		9.48		69,195		1.51	%		0.30	%		1.75	%		(0.55	)%		(1.99	)%
2021		6,407		10.01		9.67		66,445		0.99	%		0.30	%		1.75	%		(0.45	)%		(1.90	)%
2020		6,266		9.86		11.22		65,883		1.14	%		0.60	%		1.75	%		0.35	%		1.53	%
2019		6,567		9.82		11.05		68,362		2.36	%		0.60	%		1.75	%		0.90	%		2.08	%

206

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
PIMCO Total Return Portfolio, Advisor Class
2023		51,807	$	9.02	$	10.10	$	589,668		3.46	%		0.30	%		1.75	%		5.51	%		3.98	%
2022		55,640		8.55		9.72		606,616		2.42	%		0.30	%		1.75	%		(14.64	)%		(15.88	)%
2021		59,431		10.02		11.55		767,115		1.73	%		0.30	%		1.75	%		(1.66	)%		(3.09	)%
2020		56,007		10.19		14.75		746,621		1.97	%		0.30	%		1.75	%		6.64	%		7.89	%
2019		62,029		10.01		13.67		770,255		2.93	%		0.60	%		1.75	%		(0.01	)%		7.60	%
Protective Life Dynamic Allocation Series Conservative Portfolio
2023		3,653		10.92		11.05		41,384		1.97	%		0.30	%		1.75	%		11.11	%		9.50	%
2022		3,810		9.83		10.09		39,579		1.08	%		0.30	%		1.75	%		(16.95	)%		(18.15	)%
2021		3,608		11.53		12.32		46,054		0.90	%		0.75	%		1.75	%		7.91	%		6.82	%
2020		3,368		10.69		12.29		40,357		1.16	%		0.75	%		1.75	%		1.69	%		2.72	%
2019		2,591		11.35		11.98		30,678		1.56	%		0.90	%		1.75	%		8.05	%		8.98	%
Protective Life Dynamic Allocation Series Growth Portfolio
2023		3,192		11.77		13.39		46,002		1.75	%		0.75	%		1.75	%		17.45	%		16.28	%
2022		3,907		10.02		11.52		48,110		1.09	%		0.75	%		1.75	%		(20.17	)%		(20.97	)%
2021		4,163		15.73		14.58		64,736		0.88	%		0.90	%		1.75	%		19.71	%		18.68	%
2020		4,799		12.28		13.14		62,414		1.16	%		0.90	%		1.75	%		(3.86	)%		(3.03	)%
2019		6,010		12.77		13.55		80,870		1.37	%		0.90	%		1.75	%		10.04	%		10.99	%
Protective Life Dynamic Allocation Series Moderate Portfolio
2023		61,127		10.94		11.76		692,497		1.77	%		0.75	%		1.75	%		12.68	%		11.55	%
2022		57,847		9.71		10.55		585,407		1.04	%		0.75	%		1.75	%		(18.21	)%		(19.03	)%
2021		41,543		11.88		13.02		524,872		0.78	%		0.75	%		1.75	%		11.48	%		10.36	%
2020		24,453		10.65		12.61		290,751		1.00	%		0.75	%		1.75	%		0.22	%		1.24	%
2019		16,122		10.52		12.47		200,085		1.47	%		0.75	%		1.75	%		2.71	%		9.59	%
Royce Capital Fund Micro Cap Portfolio, Service Class
2023		745		23.79		14.95		14,462		0.00	%		0.70	%		1.75	%		17.73	%		16.49	%
2022		454		20.21		12.83		8,004		0.00	%		0.70	%		1.75	%		(23.19	)%		(24.00	)%
2021		912		26.31		16.88		19,767		0.00	%		0.70	%		1.75	%		28.62	%		27.26	%
2020		1,340		13.27		20.46		22,597		0.00	%		0.70	%		1.75	%		21.40	%		22.69	%
2019		1,619		10.93		16.67		22,304		0.00	%		0.70	%		1.75	%		17.15	%		18.40	%

207

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Royce Capital Fund Small Cap Portfolio, Service Class
2023		6,145	$	27.92	$	19.29	$	141,297		0.69	%		0.60	%		1.75	%		24.78	%		23.34	%
2022		7,443		22.37		15.64		137,805		0.07	%		0.60	%		1.75	%		(9.96	)%		(10.99	)%
2021		8,915		24.85		17.57		184,073		1.17	%		0.60	%		1.75	%		27.68	%		26.20	%
2020		11,258		9.97		19.46		183,315		0.71	%		0.60	%		1.75	%		(8.95	)%		(7.88	)%
2019		11,393		15.29		21.13		201,760		0.57	%		0.60	%		1.75	%		16.37	%		17.73	%
Rydex Commodities Strategy
2023		2		5.42		5.42		10		10.43	%		1.00	%		1.00	%		(7.17	)%		(7.17	)%
2022		2		5.84		5.84		9		4.72	%		1.00	%		1.00	%		21.66	%		21.66	%
2021		2		4.80		4.80		10		0.00	%		1.00	%		1.00	%		38.15	%		38.15	%
2020		3		3.47		3.47		9		0.69	%		1.00	%		1.00	%		(23.50	)%		(23.50	)%
2019		2		4.54		4.54		10		1.57	%		1.00	%		1.00	%		14.10	%		14.10	%
Rydex Inverse Government Long Bond Strategy
2023		1		6.64		6.64		8		0.00	%		1.00	%		1.00	%		3.19	%		3.19	%
2022		1		6.44		6.44		8		0.00	%		1.00	%		1.00	%		44.75	%		44.75	%
2021		2		4.45		4.45		8		0.00	%		1.00	%		1.00	%		(0.04	)%		(0.04	)%
2020		1		4.45		4.45		6		0.25	%		1.00	%		1.00	%		(21.88	)%		(21.88	)%
2019		1		5.70		5.70		7		0.00	%		1.00	%		1.00	%		(14.16	)%		(14.16	)%
T. Rowe Price All-Cap Opportunities Portfolio
2023		126		12.10		11.30		1,346		0.33	%		0.65	%		1.20	%		23.71	%		3.62	%
2022		64		7.85		7.85		503		0.00	%		0.75	%		0.75	%		(22.10	)%		(22.10	)%
2021		12		10.08		10.08		100		0.00	%		0.75	%		0.75	%		0.00	%		0.00	%
T. Rowe Price Blue Chip Growth Portfolio, Class II
2023		2,385		10.73		10.43		27,838		0.00	%		0.30	%		1.30	%		48.51	%		47.03	%
2022		797		7.23		7.10		5,117		0.00	%		0.30	%		1.30	%		(38.85	)%		(39.46	)%
2021		235		11.82		11.72		2,730		0.00	%		0.30	%		1.30	%		13.50	%		12.56	%
T. Rowe Price Health Sciences Portfolio, Class II
2023		781		10.16		9.48		7,593		0.00	%		0.65	%		1.30	%		7.65	%		1.35	%
2022		265		8.26		9.35		2,400		0.00	%		0.75	%		1.30	%		(13.34	)%		(13.82	)%
2021		94		10.88		10.85		1,017		0.00	%		1.00	%		1.30	%		11.42	%		11.14	%

208

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
T. Rowe Price Mid-Cap Growth Portfolio, Class II
2023		23	$	11.17	$	11.00	$	257		0.00	%		0.65	%		1.20	%		8.70	%		11.24	%
T. Rowe Price Moderate Allocation Portfolio
2023		757		10.88		10.72		8,171		3.26	%		0.65	%		1.20	%		12.48	%		8.81	%
2022		44		8.03		8.03		351		1.12	%		0.75	%		0.75	%		(18.93	)%		(18.93	)%
Templeton Developing Markets VIP Fund, Class 2
2023		665		10.08		10.26		7,270		2.46	%		0.30	%		1.65	%		12.29	%		10.77	%
2022		243		8.98		9.26		2,397		2.55	%		0.30	%		1.65	%		(22.22	)%		(23.27	)%
2021		223		11.55		12.07		2,857		1.36	%		0.30	%		1.65	%		(6.02	)%		(7.29	)%
2020		1,001		12.91		13.95		13,677		1.15	%		0.75	%		1.75	%		15.14	%		16.31	%
2019		1,323		11.21		12.02		15,632		0.71	%		0.90	%		1.75	%		24.48	%		25.56	%
Templeton Foreign VIP Fund, Class 2
2023		4,642		15.43		11.32		67,307		3.22	%		0.60	%		1.75	%		20.04	%		18.65	%
2022		5,585		12.86		9.54		67,901		2.71	%		0.60	%		1.75	%		(8.16	)%		(9.22	)%
2021		5,308		14.00		10.51		71,083		2.01	%		0.60	%		1.75	%		3.53	%		2.34	%
2020		6,991		10.27		17.93		90,070		2.52	%		0.60	%		1.75	%		(2.89	)%		(1.75	)%
2019		7,284		10.57		18.29		95,813		1.57	%		0.60	%		1.75	%		10.56	%		11.85	%
Templeton Global Bond VIP Fund, Class 2
2023		16,993		9.17		8.16		180,892		0.00	%		0.30	%		1.75	%		2.58	%		1.09	%
2022		19,212		8.94		8.07		200,903		0.00	%		0.30	%		1.75	%		(5.23	)%		(6.61	)%
2021		22,014		15.78		8.64		245,408		0.00	%		0.60	%		1.75	%		(5.56	)%		(6.65	)%
2020		20,656		9.26		16.70		245,678		7.98	%		0.60	%		1.75	%		(6.94	)%		(5.85	)%
2019		22,523		9.95		17.74		284,602		7.02	%		0.60	%		1.75	%		0.23	%		1.40	%

209

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Templeton Growth VIP Fund, Class 2
2023		4,688	$	17.48	$	15.33	$	80,868		3.39	%		0.60	%		1.75	%		20.29	%		18.90	%
2022		5,214		14.53		12.89		74,950		0.15	%		0.60	%		1.75	%		(12.03	)%		(13.05	)%
2021		5,600		16.52		14.83		91,730		1.16	%		0.60	%		1.75	%		4.24	%		3.04	%
2020		6,947		11.25		24.95		110,363		2.41	%		0.60	%		1.75	%		3.95	%		5.16	%
2019		7,550		13.03		23.77		114,808		2.62	%		0.60	%		1.75	%		13.14	%		14.46	%
VanEck VIP Global Resources Fund, Class I
2023		6		37.95		33.24		204		2.77	%		1.25	%		1.80	%		(4.78	)%		(5.31	)%
2022		7		39.86		35.11		236		1.63	%		1.25	%		1.80	%		7.04	%		6.45	%
2021		7		37.24		32.98		250		0.42	%		1.25	%		1.80	%		17.44	%		16.78	%
2020		9		28.24		31.71		258		0.83	%		1.25	%		1.80	%		16.97	%		17.63	%
2019		7		24.14		26.96		183		0.00	%		1.25	%		1.80	%		9.86	%		10.47	%
Vanguard VIF Balanced Portfolio
2023		79		12.96		12.96		1,018		1.92	%		0.30	%		0.30	%		13.98	%		13.98	%
2022		71		11.37		11.37		808		1.71	%		0.30	%		0.30	%		(14.56	)%		(14.56	)%
2021		63		13.31		13.31		832		1.03	%		0.30	%		0.30	%		18.15	%		18.15	%
2020		3		11.26		11.26		36		0.00	%		0.30	%		0.30	%		5.49	%		5.49	%
Vanguard VIF Capital Growth Portfolio
2023		16		15.63		15.63		256		1.20	%		0.30	%		0.30	%		27.60	%		27.60	%
2022		20		12.25		12.25		249		0.98	%		0.30	%		0.30	%		(15.74	)%		(15.74	)%
2021		15		14.53		14.53		219		0.81	%		0.30	%		0.30	%		20.63	%		20.63	%
2020		2		12.05		12.05		26		0.00	%		0.30	%		0.30	%		10.73	%		10.73	%

210

	As of December 31									For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)			Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High								Low			High			Low			High
Vanguard VIF Conservative Allocation Portfolio
2023		137	$	10.93	$	10.93	$	1,493			1.78	%		0.30	%		0.30	%		12.17	%		12.17	%
2022		123		9.74		9.74		1,198			1.00	%		0.30	%		0.30	%		(15.15	)%		(15.15	)%
2021		30		11.48		11.48		343			0.25	%		0.30	%		0.30	%		4.19	%		4.19	%
Vanguard VIF Diversified Value Portfolio
2023		20		17.17		17.17		349			0.87	%		0.30	%		0.30	%		19.77	%		19.77	%
2022		5		14.34		14.34		67			0.23	%		0.30	%		0.30	%		(11.75	)%		(11.75	)%
2021		5		16.25		16.25		80			0.78	%		0.30	%		0.30	%		18.46	%		18.46	%
Vanguard VIF Equity Income Portfolio
2023		49		15.79		15.79		779			2.72	%		0.30	%		0.30	%		7.78	%		7.78	%
2022		51		14.65		14.65		753			2.52	%		0.30	%		0.30	%		(0.96	)%		(0.96	)%
2021		44		14.80		14.80		645			0.06	%		0.30	%		0.30	%		20.01	%		20.01	%
Vanguard VIF Equity Index Portfolio
2023		141		15.63		15.63		2,210			1.40	%		0.30	%		0.30	%		25.74	%		25.74	%
2022		110		12.43		12.43		1,362			0.98	%		0.30	%		0.30	%		(18.47	)%		(18.47	)%
2021		60		15.25		15.25		945			0.32	%		0.30	%		0.30	%		27.92	%		27.92	%
2020		1		11.92		11.92		(17	)		0.00	%		0.30	%		0.30	%		6.92	%		6.92	%
Vanguard VIF Global Bond Index Portfolio
2023		30		9.08		9.08		272			1.85	%		0.30	%		0.30	%		6.20	%		6.20	%
2022		25		8.55		8.55		215			1.98	%		0.30	%		0.30	%		(13.39	)%		(13.39	)%
2021		15		9.87		9.87		148			0.96	%		0.30	%		0.30	%		(2.23	)%		(2.23	)%
2020		1		10.10		10.10		12			0.00	%		0.30	%		0.30	%		0.66	%		0.66	%
Vanguard VIF Growth Portfolio
2023		121		13.03		13.03		1,570			0.25	%		0.30	%		0.30	%		39.72	%		39.72	%
2022		100		9.32		9.32		936			0.00	%		0.30	%		0.30	%		(33.56	)%		(33.56	)%
2021		55		14.03		14.03		742			0.01	%		0.30	%		0.30	%		16.57	%		16.57	%
2020		6		12.04		12.04		93			0.00	%		0.30	%		0.30	%		6.48	%		6.48	%

211

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Vanguard VIF High Yield Bond Portfolio
2023		18	$	11.16	$	11.16	$	205		4.92	%		0.30	%		0.30	%		11.33	%		11.33	%
2022		17		10.03		10.03		173		4.68	%		0.30	%		0.30	%		(9.63	)%		(9.63	)%
2021		13		11.10		11.10		139		5.15	%		0.30	%		0.30	%		3.18	%		3.18	%
2020		2		10.75		10.75		24		0.00	%		0.30	%		0.30	%		3.60	%		3.60	%
Vanguard VIF International Portfolio
2023		92		10.26		10.26		943		1.56	%		0.30	%		0.30	%		14.31	%		14.31	%
2022		78		8.98		8.98		701		0.98	%		0.30	%		0.30	%		(30.33	)%		(30.33	)%
2021		42		12.89		12.89		547		0.06	%		0.30	%		0.30	%		(2.27	)%		(2.27	)%
2020		-		13.19		13.19		5		0.00	%		0.30	%		0.30	%		18.60	%		18.60	%
Vanguard VIF Mid-Cap Index Portfolio
2023		83		14.44		14.44		1,192		1.40	%		0.30	%		0.30	%		15.48	%		15.48	%
2022		67		12.51		12.51		834		1.03	%		0.30	%		0.30	%		(19.06	)%		(19.06	)%
2021		52		15.45		15.45		804		0.47	%		0.30	%		0.30	%		23.33	%		23.33	%
2020		-		12.53		12.53		6		0.00	%		0.30	%		0.30	%		14.57	%		14.57	%
Vanguard VIF Moderate Allocation Portfolio
2023		64		11.94		11.94		763		2.03	%		0.30	%		0.30	%		15.20	%		15.20	%
2022		64		10.37		10.37		660		2.21	%		0.30	%		0.30	%		(16.18	)%		(16.18	)%
2021		54		12.37		12.37		664		0.71	%		0.30	%		0.30	%		9.50	%		9.50	%
2020		3		11.29		11.29		36		0.00	%		0.30	%		0.30	%		7.06	%		7.06	%
Vanguard VIF Money Market Portfolio
2023		157		10.50		10.50		1,650		4.92	%		0.30	%		0.30	%		4.67	%		4.67	%
2022		186		10.03		10.03		1,870		2.10	%		0.30	%		0.30	%		0.60	%		0.60	%
2021		33		9.97		9.97		325		0.01	%		0.30	%		0.30	%		(0.29	)%		(0.29	)%
2020		-		10.00		10.00		2		0.00	%		0.30	%		0.30	%		0.01	%		0.01	%
Vanguard VIF Real Estate Index Portfolio
2023		41		12.65		12.65		515		2.43	%		0.30	%		0.30	%		11.36	%		11.36	%
2022		29		11.36		11.36		331		1.72	%		0.30	%		0.30	%		(26.52	)%		(26.52	)%
2021		19		15.46		15.46		287		0.35	%		0.30	%		0.30	%		39.58	%		39.58	%
2020		-		11.07		11.07		3		0.00	%		0.30	%		0.30	%		6.13	%		6.13	%

212

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Vanguard VIF Short-Term Investment-Grade Portfolio
2023		233	$	10.02	$	10.02	$	2,331		1.93	%		0.30	%		0.30	%		5.84	%		5.84	%
2022		167		9.47		9.47		1,579		1.44	%		0.30	%		0.30	%		(6.00	)%		(6.00	)%
2021		142		10.08		10.08		1,430		0.19	%		0.30	%		0.30	%		(0.82	)%		(0.82	)%
2020		1		10.16		10.16		11		0.00	%		0.30	%		0.30	%		0.81	%		0.81	%
Vanguard VIF Total Bond Market Index Portfolio
2023		295		8.97		8.97		2,651		2.38	%		0.30	%		0.30	%		5.26	%		5.26	%
2022		199		8.53		8.53		1,701		1.58	%		0.30	%		0.30	%		(13.47	)%		(13.47	)%
2021		115		9.85		9.85		1,136		1.16	%		0.30	%		0.30	%		(2.10	)%		(2.10	)%
2020		27		10.06		10.06		270		0.00	%		0.30	%		0.30	%		0.29	%		0.29	%
Vanguard VIF Total International Stock Market Index Portfolio
2023		114		12.52		12.52		1,432		2.83	%		0.30	%		0.30	%		15.20	%		15.20	%
2022		106		10.87		10.87		1,151		2.14	%		0.30	%		0.30	%		(16.26	)%		(16.26	)%
2021		42		12.98		12.98		546		0.57	%		0.30	%		0.30	%		8.16	%		8.16	%
2020		-		12.00		12.00		4		0.00	%		0.30	%		0.30	%		14.05	%		14.05	%
Vanguard VIF Total Stock Market Index Portfolio
2023		185		15.36		15.36		2,836		1.08	%		0.30	%		0.30	%		25.57	%		25.57	%
2022		153		12.23		12.23		1,873		0.97	%		0.30	%		0.30	%		(19.83	)%		(19.83	)%
2021		77		15.26		15.26		1,179		0.74	%		0.30	%		0.30	%		24.83	%		24.83	%
2020		20		12.22		12.22		242		0.00	%		0.30	%		0.30	%		9.53	%		9.53	%

213

	As of December 31								For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000's)		Investment Income Ratio ^(a)			Expense Ratios ^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Western Asset Core Plus VIT Portfolio, Class II
2023		466	$	8.71	$	8.63	$	4,060		3.72	%		1.00	%		1.30	%		5.37	%		5.06	%
2022		421		8.26		8.22		3,471		2.43	%		1.00	%		1.30	%		(18.11	)%		(18.35	)%
2021		227		10.09		10.06		2,287		2.05	%		1.00	%		1.30	%		(0.29	)%		(0.54	)%

^(a) These ratios represent the dividends received by the Subaccount, excluding distributions of capital gains, divided by the daily average net assets. These ratios exclude expenses, such as mortality and expense charges, that result in direct reductions in the unit values. The recognition of investment income by the Subaccount is affected by the timing of the declaration of dividends by the underlying mutual fund in which the Subaccounts invest.

^(b) These ratios represent the annualized Contract expenses of the respective Subaccounts of the Separate Account, consisting primarily of mortality and expense risk and administrative 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 underlying mutual fund are excluded.

^(c) These amounts represent the total return for the periods indicated, are not annualized, include changes in the value of the underlying mutual fund, and reflect deductions for all items included in the expense ratio. The total return does not include any expenses addressed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented.

214

SUBSEQUENT EVENTS

The Separate Account has evaluated the effects of events subsequent to December 31, 2023, and through the date at which the financial statements were available to be issued. All accounting and disclosure requirements related to subsequent events are included in our financial statements.

215