Notice Document by Insurance Company (Form N-VP)

Venerable Insurance and Annuity Company

and  Separate Account U of Venerable Insurance and Annuity Company

SpectraDirect Variable Annuity

TABLE OF CONTENTS

Page

SPECIAL TERMS

3

UPDATED INFORMATION ABOUT YOUR CONTRACT

4

KEY INFORMATION

4

APPENDIX A - FUNDS AVAILABLE UNDER THE CONTRACT

A-1

APPENDIX B - FIXED ACCOUNT

B-1

APPENDIX C - INTEREST ADJUSTMENT ACCOUNT

C-1

HOW TO GET MORE INFORMATION

Back Cover

SPECIAL TERMS

Contract

The legal agreement between the Contract Owner(s) and the Company that governs the terms of the SpectraDirect variable annuity. The Contract has two phases:

The accumulation phase (the period between the Contract Date and the Income Date) during which the Contract Value may vary according to the investment experience of the Subaccounts of the Separate Account; and

The Income Phase (which begins on the Income Date) during which you receive regular annuity payments under the Contract.

Contract Date

The date the Contract became effective.

Contract Owner(s)

The person(s) or entity with all of the rights and options available through the Contract. Throughout this notice document we use "you" and "your" to refer to the Contract Owner(s).

Contract Value

The total value of your investment in the Subaccounts of the Separate Account and the Fixed Interest Options available through the Contract.

Contract Year

The time period between each anniversary of the Contract Date.

Death Benefit

The amount paid to your designated beneficiaries upon your death. Your Contract has either Death Benefit Option 1 (an Enhanced Death Benefit Rider) or Death Benefit Option 2 (Standard Death Benefit). Check your Contract's data pages for the Death Benefit that applies to you.

Fixed Interest Options

Investment options that earn a stated amount of interest for a specified period of time. The available Fixed Interest Options are the Fixed Account and the Interest Adjustment Account.

Funds

The underlying mutual funds in which the Subaccounts invest. In the full prospectus the Funds are referred to as Portfolios.

Income Date

The date you start receiving annuity payments under your Contract.

Separate Account

Separate Account U, which is separate investment account of the Company that supports the Contract. It is registered with the SEC as a unit investment trust under the Investment Company Act of 1940, as amended (the "1940 Act"). We own all the assets in Separate Account U but such assets are kept separate from our other accounts.

Subaccounts

Divisions of the Separate Account, each of which invests exclusively in one underlying Fund. The value of each Subaccount will vary with the performance of its underlying Fund.

UPDATED INFORMATION ABOUT YOUR CONTRACT

KEY INFORMATION

FEES, EXPENSES, AND ADJUSTMENTS

Are there Charges or Adjustments for Early Withdrawals?

Yes. If you withdraw some or all of your Contract Value from the Contract within ten (10) years of our receipt of a purchase payment you may be assessed a contingent deferred sales charge, which is also referred to as a withdrawal charge. The withdrawal charge is a percentage of the purchase payment withdrawn, and the maximum surrender charge is 8.5% of each purchase payment withdrawn. For example, if you make an early withdrawal, you could pay a withdrawal charge of up to $8,500 on a $100,000 purchase payment.  See "Contingent Deferred Sales Charge" in the full prospectus, as supplemented, for more information.

Also, if all or a portion of your investment is surrendered, withdrawn, transferred, or annuitized from a Fixed Interest Option before the expiration of its guaranteed interest period, an interest adjustment may apply. The interest adjustment may be positive, negative or have no impact on your Contract Value. You could lose interest previously earned in an investment in a Fixed Interest Option due to a negative interest adjustment. For example, if you allocated $100,000 to the Fixed Interest Option earning 4% with a 5 year guarantee period and later withdraw or transfer the entire amount two years before the 5 years have ended, you could lose up to $3,210.46 of any prior earned interest in that Fixed Interest Option, assuming a 3% guaranteed minimum interest rate. This amount may be in addition to surrender charges, taxes, and tax penalties, if applicable. See APPENDIX C for more information about the interest adjustment.

Are there Transaction Charges?

Yes. In addition to withdrawal charges and an interest adjustment, if applicable, there may be an additional charge if:

You transfer Contract Value between Subaccounts; or

State or local premium taxes become due.

See "Transfer Fee" and "Premium Taxes" in the full prospectus, as supplemented, for more information.

FEES, EXPENSES, AND ADJUSTMENTS (continued)

Are there Ongoing Fees and Expenses?

Minimum and Maximum Annual Fee Table. The table below describes the fees and expenses that you may pay each year, depending on the Investment Options and optional benefits you choose. Please refer to your Contract schedule pages for information about the specific fees you will pay each year based on the options you have elected.

Annual Fee

Minimum

Maximum

Base Contract

1.40%¹

1.44%¹

Fund fees and expenses

0.27%²

1.58%²

Optional Enhanced Death Benefit Rider

0.27%³

0.27%³

1 As a percentage of Contract Value in each Subaccount. This fee includes the Mortality and Expense Risk Charge, the Administrative Charge, and the annual dollar based Contract Maintenance Charge converted into an annual percentage. We calculate the Base Contract fee by dividing the total amount of these charges collected during the last fiscal year by the total average net assets attributable to the Contracts for that year. The annual dollar based Contract Maintenance Charge is waived if your Contract Value is $75,000 or more when the charge is deducted on each anniversary of the Contract Date. The minimum amount reflects this waiver, while the maximum amount does not. Refer to your Contract schedule pages for the fees and charges that apply to your Contract.

2 As a percentage of Fund assets. These figures reflect the minimum and maximum Fund fees and expense before any expense reimbursements or fee waiver arrangements.

3 As a percentage of Account Value. Refer to your Contract schedule pages for the fees and charges that apply to your Contract.

See "Expenses" in the full prospectus, as supplemented, for more information.

Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, which could add withdrawal charges  and negative Contract adjustments that substantially increase costs.

Lowest Annual Cost:

$1,481

Highest Annual Cost:

$2,725

Assumes:

Investment of $100,000;

5% annual appreciation;

Least expensive Contract and Fund fees and expenses;

No sales charges; and

No additional purchase payments, transfers, or withdrawals.

Assumes:

Investment of $100,000;

5% annual appreciation;

Most expensive Contract and Fund fees and expenses;

No sales charges; and

No additional purchase payments, transfers, or withdrawals.

See "Expenses" in the full prospectus, as supplemented, for more information.

RISKS
See "Summary" in the full prospectus, as supplemented, for more information.

Is there a Risk of Loss from Poor Performance?

Yes. You can lose money investing in the Contract, including loss of principal.

Is this a Short-Term Investment?

No. The Contract is not a short-term investment and is not appropriate if you need ready access to cash.

Withdrawal charges apply for up to ten (10) years after each purchase payment. They will reduce the value of your Contract if you withdraw money from your Contract during that time. An interest adjustment may also apply for withdrawals or transfers from the Interest Adjustment Account before the end of its guaranteed interest period. The benefits of tax deferral also mean the Contract is more beneficial to investors with a long-term investment time horizon.

At the end of a guaranteed interest period, amounts allocated to a Fixed Interest Option will be reallocated according to your instructions. If no instructions are received, they will be reallocated to a Fixed Interest Option with a guaranteed interest period of the same duration. See Appendices B and C for more information about the availability of the Fixed Interest Options and reallocations when no instructions are received.

What are the Risks Associated with the Investment Options?

An investment in the Contract is subject to the risk of poor investment performance of the investment options you choose.

Each available Fund and Fixed Interest Option has its own unique risks, and you should review information about each investment option before making an investment decision. This information can be found in the Fund prospectuses and Appendix B and Appendix  C for the Fixed Interest Options.

What are the Risks Related to the Insurance Company?

All obligations, guarantees, and benefits of the Contract, including those related to any Fixed Interest Option, are subject to the financial strength and claims paying ability of the Company. If the Company experiences financial distress, it may not be able to meet its obligations to you. More information about the Company, including its financial strength, is available on request by calling Customer Service at 1-800-366-0066.

What are the Risks Related to Cyber-Security?

Like others in our industry, we are subject to operational and information security risks resulting from "cyber-attacks," "hacking" or similar illegal or unauthorized intrusions into computer systems and networks. These risks include, among other things, the theft, misuse, corruption and destruction of data maintained online or digitally, denial of service attacks on websites and other operational disruption and unauthorized release of confidential customer information. Although we seek to limit our vulnerability to such risks through technological and other means and we rely on industry standard commercial technologies to maintain the security of our information systems, it is not possible to anticipate or prevent all potential forms of cyber-attack or to guarantee our ability to fully defend against all such attacks. In addition, due to the sensitive nature of much of the financial and similar personal information we maintain, we may be at particular risk for targeting.

Cyber-attacks affecting us, any third-party administrator, the underlying Funds, intermediaries and other affiliated or third-party service providers may adversely affect us and your Contract Value. For instance, cyber-attacks may interfere with our processing of Contract transactions, including the processing of orders from our website or with the underlying Funds, impact our ability to calculate Accumulation Unit values, cause the release and possible destruction of confidential customer or business information, impede order processing, subject us and/or our service providers and intermediaries to regulatory fines and financial losses and/or cause reputational damage. Cyber security risks may also affect the issuers of securities in which the underlying Funds invest, which may cause the Funds underlying your Contract to lose value. There can be no assurance that we or the underlying Funds or our service providers will avoid losses affecting your Contract that result from cyber-attacks or information security breaches in the future.

RESTRICTIONS

Are there Limits on the Investment Options?

Yes. There is a charge of $25 or 2% of the amount that is transferred, whichever is less, for each transfer between  Subaccounts after the first 12 in a Contract Year. See "Transfer Fee" in the full prospectus, as supplemented, for more information.

We reserve the right to close or remove Funds to future investment and to substitute Funds that are available under the Contract. See "Substitution" in the full prospectus, as supplemented, for more information. Additionally, we may restrict or limit the guaranteed interest periods that are available under the Fixed Interest Options.

The Contract is not designed to serve as a vehicle for frequent transfers. We monitor for excessive trading and reserve the right to limit the number of transfers you may make between investment options and may otherwise modify or terminate transfer privileges. We may also suspend electronic trading privileges for those that are found to have violated our Excessive Trading Policy. See "Transfers" and "Limits on Frequent or Disruptive Transfers" in the full prospectus, as supplemented, for more information.

TAXES
See "Taxes" in the full prospectus, as supplemented, for more information.

What are the Contract's Tax Implications?

You should consult with a tax professional to determine the tax implications of an investment in and purchase payments received under the Contract.

If you purchased the contract through a tax-qualified retirement plan or individual retirement arrangement ("IRA") you do not get any additional tax deferral.

Earnings on your Contract are taxed at ordinary income tax rates when you withdraw them, and you may pay a 10% additional tax for withdrawals and surrenders before age 59½.

CONFLICTS OF INTEREST
See "Distribution" in the full prospectus, as supplemented, for more information.

How are Investment Professionals Compensated?

Although the Contracts are no longer offered for new sales, firms and their registered representatives that sold the Contract may receive commissions on additional purchase payments and may also be paid trail commissions for past sales activity based on the values of Contracts sold through the firm. This compensation is not paid directly by Contract Owners or the Separate Account. This compensation may have influenced your investment professional to offer or recommend the Contract over another investment and could influence your investment professional to recommend keeping the Contract.

Should I Exchange My Contract?

Some investment professionals may have a financial incentive to offer you a new contract in place of the Contract you already own. You should only exchange your Contract if you determine, after comparing the features, benefits, fees, and risks of both contracts, that it is preferable for you to exchange your Contract for a new contract rather than to continue to own your existing Contract.

APPENDIX A - FUNDS AVAILABLE UNDER THE CONTRACT

Open Funds

INVESTMENT OBJECTIVE

FUND NAME
INVESTMENT ADVISER/SUBADVISER

CURRENT EXPENSES

AVERAGE ANNUAL
TOTAL RETURNS

(AS OF 12/31/2025)

1 Year

5 Year

10 Year

The Fund seeks capital appreciation.

Invesco V.I. Global Fund

Investment Adviser: Invesco Advisers, Inc.

Sub-Adviser: Invesco Asset Management Limited

Survivor in the April 24, 2026, merger of the Invesco VI Global Core Equity Fund with and into this Fund.

Series I
1.06%

15.02%

7.01%

10.72%

Seeks high total return by investing primarily in fixed income securities of government and government-related issuers and, to a lesser extent, of corporate issuers in emerging market countries.

Morgan Stanley Variable Insurance Fund, Inc. Emerging Markets Debt Portfolio

Investment Adviser: Morgan Stanley Investment Management Inc.

Sub-Adviser: Morgan Stanley Investment Management Limited

Class I
1.10%¹

15.33%

2.70%

4.51%

Seeks long-term capital appreciation by investing primarily in growth-oriented equity securities of large capitalization companies.

Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio

Investment Adviser: Morgan Stanley Investment Management Inc.

Class I
0.57%¹

35.72%

3.41%

17.76%

INVESTMENT OBJECTIVE

FUND NAME
INVESTMENT ADVISER/SUBADVISER

CURRENT EXPENSES

AVERAGE ANNUAL
TOTAL RETURNS

(AS OF 12/31/2025)

1 Year

5 Year

10 Year

Seeks high long term capital appreciation.

Venerable Appreciation Allocation Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

A Fund of Funds.

Class V
0.83%

-*

-*

-*

Seeks to replicate the performance of a benchmark index that measures investment grade bonds traded in the U.S. as closely as possible before the deduction of Fund expenses.

Venerable Bond Index Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Franklin Advisers, Inc.

Class V
0.61%¹

-*

-*

-*

Seeks, over the long term, current income and a modest level of total investment return consistent with the preservation of capital.

Venerable Conservative Allocation Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

A Fund of Funds.

Class  V
0.87%¹

-*

-*

-*

Seeks, over the long term, current income and a moderate level of total investment return.

Venerable Conservative Appreciation Allocation Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

A Fund of Funds.

Class V
0.87%

-*

-*

-*

Seeks to provide long term capital growth.

Venerable Emerging Markets Equity Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

Non-Discretionary Sub-Advisers: Axiom Investors LLC, Barrow, Hanley, Mewhinney & Strauss LLC, Numeric Investors LLC, Oaktree Fund Advisors, LLC, Pzena Investment Management, LLC, and Sands Capital Management, LLC

Class V
1.44%¹

-*

-*

-*

INVESTMENT OBJECTIVE

FUND NAME
INVESTMENT ADVISER/SUBADVISER

CURRENT EXPENSES

AVERAGE ANNUAL
TOTAL RETURNS

(AS OF 12/31/2025)

1 Year

5 Year

10 Year

Seeks to earn a high level of current income with a secondary goal of seeking capital appreciation.

Venerable High Yield Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Franklin Advisers, Inc.

Class  V
0.72%¹

8.49%

-*

-*

Seeks to maximize long term total real return, consistent with the preservation of real capital.

Venerable Inflation Focused Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Franklin Advisers, Inc.

Class V
0.84%¹

-*

-*

-*

Seeks to provide long-term capital growth.

Venerable International Equity Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Franklin Advisers, Inc.

Non-Discretionary Sub-Advisers: ClearBridge Investments, LLC and Putnam Investment Management, LLC

Class  V
0.99%¹

-*

-*

-*

Seeks to replicate the performance of a benchmark index that measures the investment return of international developed markets stocks as closely as possible before deduction of Fund expenses.

Venerable International Index Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

Class  V
0.70%¹

-*

-*

-*

Seeks to replicate the performance of a benchmark index that measures the investment return of large capitalization stocks as closely as possible before the deduction of Fund expenses.

Venerable Large Cap Index Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

Class  V
0.51%¹

17.30%

-*

-*

Seeks to replicate the performance of a benchmark index that measures the investment return of mid capitalization stocks as closely as possible before deduction of Fund expenses.

Venerable Mid Cap Index Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

Class  V
0.65%¹

-*

-*

-*

INVESTMENT OBJECTIVE

FUND NAME
INVESTMENT ADVISER/SUBADVISER

CURRENT EXPENSES

AVERAGE ANNUAL
TOTAL RETURNS

(AS OF 12/31/2025)

1 Year

5 Year

10 Year

Seeks, over the long-term, total investment return consistent with the preservation of capital.

Venerable Moderate Allocation Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

A Fund of Funds.

Class  V
0.89%¹

12.64%

-*

-*

Seeks moderate long term capital appreciation and as a secondary objective, current income.

Venerable Moderate Appreciation Allocation Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

A Fund of Funds.

Class V
0.85%

-*

-*

-*

Seeks to provide current income and long-term capital growth.

Venerable Real Estate Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

Non-Discretionary Sub-Advisers: Duff & Phelps Investment Management Co. and Wellington Management Company LLP

Class V
1.00%¹

-*

-*

-*

Seeks to replicate the performance of a benchmark index that measures the investment return of small capitalization stocks as closely as possible before deduction of Fund expenses.

Venerable Small Cap Index Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

Class  V
0.68%¹

-*

-*

-*

Seeks to maximize total return while investing to obtain the average duration specified in the Fund's prospectus.

Venerable Strategic Bond Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Franklin Advisers, Inc.

Class  V
0.80%¹

6.87%

-*

-*

INVESTMENT OBJECTIVE

FUND NAME
INVESTMENT ADVISER/SUBADVISER

CURRENT EXPENSES

AVERAGE ANNUAL
TOTAL RETURNS

(AS OF 12/31/2025)

1 Year

5 Year

10 Year

Seeks to provide long term capital growth.

Venerable US Large Cap Strategic Equity Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

Non-Discretionary Sub-Advisers: Brandywine Global Investment Management, LLC, ClearBridge Investments, LLC, and Putnam Investment Management, LLC

Class  V
0.86%¹

16.25%

-*

-*

Seeks to provide long term capital growth.

Venerable US Small Cap Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Franklin Advisers, Inc.

Non-Discretionary Sub-Advisers: Putnam Investment Management, LLC and Royce Investment Partners

Class V
0.85%¹

-*

-*

-*

Seeks high long term capital appreciation.

Venerable World Appreciation Allocation Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

A Fund of Funds.

Class  V
1.00%¹

-*

-*

-*

Seeks, over the long term, current income and a moderate level of total investment return.

Venerable World Conservative Allocation Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

A Fund of Funds.

Class V
0.86%¹

-*

-*

-*

INVESTMENT OBJECTIVE

FUND NAME
INVESTMENT ADVISER/SUBADVISER

CURRENT EXPENSES

AVERAGE ANNUAL
TOTAL RETURNS

(AS OF 12/31/2025)

1 Year

5 Year

10 Year

Seeks to provide long term capital growth

Venerable World Equity Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

Non-Discretionary Sub-Advisers: Intermede Global Partners Inc., Intermede Investments Partners Limited, Numeric Investors LLC, Sanders Capital, LLC, and Wellington Management Company LLP

Class  V
0.85%¹

-*

-*

-*

Seeks moderate long term capital appreciation and as a secondary objective, current income.

Venerable World Moderate Allocation Fund

Investment Adviser: Venerable Investment Advisers, LLC

Discretionary Sub-Adviser: Russell Investment Management, LLC

A Fund of Funds.

Class V
1.00%¹

-*

-*

-*

Seeks high level of current income consistent with the preservation of capital and liquidity.

Voya Government Liquid Assets Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.28%

4.15%

3.12%

2.03%

Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of a widely accepted international index.

Voya International Index Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.45%¹

30.89%

8.50%

7.91%

A non-diversified Portfolio that seeks long-term capital growth.

Voya Large Cap Growth Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.67%¹

15.33%

12.23%

15.19%

INVESTMENT OBJECTIVE

FUND NAME
INVESTMENT ADVISER/SUBADVISER

CURRENT EXPENSES

AVERAGE ANNUAL
TOTAL RETURNS

(AS OF 12/31/2025)

1 Year

5 Year

10 Year

Seeks highest current income consistent with low risk to principal and liquidity and secondarily, seeks to enhance its total return through capital appreciation when market factors, such as falling interest rates and rising bond prices, indicate that capital appreciation may be available without significant risk to principal.

Voya Limited Maturity Bond Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class S
0.53%

5.42%

1.86%

2.01%

Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell Midcap® Growth Index.

Voya Russell™  Mid Cap Growth Index Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.40%¹

8.35%

6.24%

12.04%

Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell Midcap® Index.

Voya Russell™  Mid Cap Index Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.40%¹

10.08%

8.26%

10.59%

Closed Funds

INVESTMENT OBJECTIVE

FUND NAME
INVESTMENT ADVISER/SUBADVISER

CURRENT EXPENSES

AVERAGE ANNUAL
TOTAL RETURNS

(AS OF 12/31/2025)

1 Year

5 Year

10 Year

Seeks long-term capital appreciation by investing primarily in global resource securities. Income is a secondary consideration.

VanEck VIP Global Resources Fund

Investment Adviser: Van Eck Associates Corporation

Initial Class
1.08%

36.48%

10.51%

8.33%

Seeks to outperform the total return performance of the S&P 500® Index while maintaining a market level of risk.

Voya Index Plus LargeCap Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.55%¹

15.20%

13.73%

13.90%

Seeks to maximize total return consistent with reasonable risk. The Portfolio seeks its objective through investments in a diversified portfolio consisting primarily of debt securities. It is anticipated that capital appreciation and investment income will both be major factors in achieving total return.

Voya Intermediate Bond Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.55%¹

7.71%

0.15%

2.66%

Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell Top 200® Growth Index.

Voya Russell^TM Large Cap Growth Index Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.43%¹

18.12%

16.24%

18.65%

Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell Top 200® Index.

Voya Russell^TM Large Cap Index Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.36%¹

18.75%

14.72%

15.36%

INVESTMENT OBJECTIVE

FUND NAME
INVESTMENT ADVISER/SUBADVISER

CURRENT EXPENSES

AVERAGE ANNUAL
TOTAL RETURNS

(AS OF 12/31/2025)

1 Year

5 Year

10 Year

Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell Top 200® Value Index.

Voya Russell^TM Large Cap Value Index Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.43%¹

17.94%

11.69%

10.53%

Seeks total return.

Voya U.S. Stock Index Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Voya Investment Management Co. LLC

Class I
0.27%

17.53%

14.10%

14.51%

Seeks total return consisting of long-term capital appreciation and current income.

VY^® Invesco Equity and Income Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Invesco Advisers, Inc.

Class I
0.64%¹

12.80%

8.82%

8.86%

Seeks long-term growth of capital and income.

VY^® Invesco Growth and Income Portfolio

Investment Adviser: Voya Investments, LLC

Sub-Adviser: Invesco Advisers, Inc.

Class I
0.65%

15.63%

13.09%

11.00%

APPENDIX B - FIXED ACCOUNT

APPENDIX C - INTEREST ADJUSTMENT ACCOUNT

HOW TO GET MORE INFORMATION

SpectraDirect, Contract I.D. C000032745

May 1, 2026