Country Investors Variable Annuity Account

04/30/2026 | Press release | Distributed by Public on 04/30/2026 12:31

Financial Statements by Insurance Company (Form N-VPFS)

Report of Independent Registered Public Accounting Firm

The Board of Directors and Contract Owners of

COUNTRY Investors Life Assurance Company and

COUNTRY Investors Variable Annuity Account

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of each of the subaccounts listed in the Appendix that comprise COUNTRY Investors Variable Annuity Account (the Accounts) as of December 31, 2025, and the related statements of operations for the year then ended, and the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Accounts as of December 31, 2025, and the results of their operations for the year then ended and changes in net assets for each of the years in the two-year period then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

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

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Such procedures also included confirmation of securities owned as of December 31, 2025, by correspondence with the fund companies or their transfer agents, as applicable. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Forvis Mazars LLP

We have served as the Accounts' auditor since 2024.

West Des Moines, Iowa

April 30, 2026

Appendix

Subaccounts comprising COUNTRY Investors Variable Annuity Account

Subaccounts
BNY Mellon VIF Appreciation Portfolio - Initial Shares
BNY Mellon VIF Growth & Income Portfolio - Initial Shares
BNY Mellon VIF Small Cap Portfolio - Initial Shares
CVT EAFE International Index Portfolio - Class F
CVT Russell 2000® Small Cap Index Portfolio
CVT Russell 2000® Small Cap Index Portfolio - Class F
CVT S&P MidCap 400 Index Portfolio
CVT S&P MidCap 400 Index Portfolio - Class F
DWS Global Small Cap VIP - Class A
Federated Hermes Government Money Fund II - Service Shares
Federated Hermes Managed Volatility Fund II - Primary Shares
Federated Hermes Quality Bond Fund II - Primary Shares
Fidelity® VIP Contrafund® Portfolio - Initial Class
Fidelity® VIP Contrafund® Portfolio - Service Class 2
Fidelity® VIP Growth & Income Portfolio - Initial Class
Fidelity® VIP Growth Portfolio - Initial Class
Fidelity® VIP Growth Portfolio - Service Class 2
Fidelity® VIP High Income Portfolio - Service Class 2
Fidelity® VIP Index 500 Portfolio - Initial Class
Fidelity® VIP Index 500 Portfolio - Service Class 2
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class
Fidelity® VIP Mid Cap Portfolio - Service Class 2
Fidelity® VIP Overseas Portfolio - Initial Class
Fidelity® VIP Real Estate Portfolio - Service Class 2
Franklin Global Real Estate VIP Fund - Class 2
Franklin Mutual Shares VIP Fund - Class 2
Franklin Small Cap Value VIP Fund - Class 2
Franklin Small-Mid Cap Growth VIP Fund - Class 2
Franklin U.S. Government Securities VIP Fund - Class 2
Templeton Global Bond VIP Fund - Class 2
Templeton Growth VIP Fund - Class 2
LVIP American Century Capital Appreciation Fund - Standard II
LVIP American Century Inflation Protection Fund - Standard II
LVIP American Century Ultra Fund - Standard II
LVIP JPMorgan Mid Cap Value Fund - Standard
LVIP JPMorgan Small Cap Core Fund - Service
LVIP JPMorgan Small Cap Core Fund - Standard
T. Rowe Price All-Cap Opportunities Portfolio
T. Rowe Price Equity Income Portfolio
T. Rowe Price Moderate Allocation Portfolio
T. Rowe Price International Stock Portfolio

COUNTRY Investors Variable Annuity Account

Statements of Assets and Liabilities

December 31, 2025

Net assets Investments in mutual funds
Investments in
shares of Contracts in Annuitized
mutual funds, Accumulation annuitization Total net Accumulation units
Subaccount at fair value units period assets Cost Shares owned units outstanding outstanding
BNY Mellon VIF Appreciation Portfolio - Initial Shares $ 32,216 $ 32,216 $ - $ 32,216 $ 31,529 956.80 607.84 -
BNY Mellon VIF Growth & Income Portfolio - Initial Shares 198,382 198,382 - 198,382 153,820 4,986.97 2,934.51 -
BNY Mellon VIF Small Cap Portfolio - Initial Shares 147,415 147,415 - 147,415 135,337 3,071.15 5,606.65 -
CVT EAFE International Index Portfolio - Class F 1,317,005 1,317,005 - 1,317,005 969,961 10,888.84 45,432.05 -
CVT Russell 2000® Small Cap Index Portfolio 380,763 376,484 4,279 380,763 328,418 4,201.75 9,493.08 107.91
CVT Russell 2000® Small Cap Index Portfolio - Class F 17,288 17,288 - 17,288 14,466 194.01 295.28 -
CVT S&P MidCap 400 Index Portfolio 198,898 198,898 - 198,898 178,319 1,560.84 3,724.14 -
CVT S&P MidCap 400 Index Portfolio - Class F 14,320 14,320 - 14,320 12,749 113.16 270.93 -
DWS Global Small Cap VIP - Class A 28,048 28,048 - 28,048 25,394 2,424.21 629.81 -
Federated Hermes Government Money Fund II - Service Shares 410,348 410,348 - 410,348 410,348 410,348.34 41,062.84 -
Federated Hermes Managed Volatility Fund II - Primary Shares 315,267 315,267 - 315,267 289,673 30,314.12 14,533.09 -
Federated Hermes Quality Bond Fund II - Primary Shares 866,328 866,328 - 866,328 867,009 81,883.53 67,755.35 -
Fidelity® VIP Contrafund® Portfolio - Initial Class 3,547,573 3,547,573 - 3,547,573 2,632,449 59,234.81 39,857.24 -
Fidelity® VIP Contrafund® Portfolio - Service Class 2 352,758 352,758 - 352,758 310,864 6,203.97 3,568.97 -
Fidelity® VIP Growth & Income Portfolio - Initial Class 452,853 452,853 - 452,853 300,771 13,578.82 7,661.67 -
Fidelity® VIP Growth Portfolio - Initial Class 782,024 765,705 16,319 782,024 684,349 8,002.70 8,929.92 190.31
Fidelity® VIP Growth Portfolio - Service Class 2 103,726 103,726 - 103,726 96,263 1,116.78 927.69 -
Fidelity® VIP High Income Portfolio - Service Class 2 10,267 10,267 - 10,267 10,017 2,227.20 362.67 -
Fidelity® VIP Index 500 Portfolio - Initial Class 3,506,099 3,492,795 13,304 3,506,099 1,501,152 5,311.23 50,634.14 192.86
Fidelity® VIP Index 500 Portfolio - Service Class 2 2,382,264 2,382,264 - 2,382,264 1,189,286 3,663.84 27,516.84 -
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class 4,927,578 4,919,816 7,762 4,927,578 5,537,054 433,765.69 392,841.29 619.76
Fidelity® VIP Mid Cap Portfolio - Service Class 2 2,477,901 2,477,901 - 2,477,901 2,379,099 70,454.96 41,603.10 -
Fidelity® VIP Overseas Portfolio - Initial Class 753,147 753,147 - 753,147 682,404 27,367.27 25,034.62 -
Fidelity® VIP Real Estate Portfolio - Service Class 2 411,444 411,444 - 411,444 415,985 23,619.08 8,923.96 -
Franklin Global Real Estate VIP Fund - Class 2 408,250 408,250 - 408,250 420,527 31,259.60 24,659.18 -
Franklin Mutual Shares VIP Fund - Class 2 77,339 77,339 - 77,339 75,543 4,803.64 2,483.16 -
Franklin Small Cap Value VIP Fund - Class 2 998,092 998,092 - 998,092 902,393 71,960.46 20,966.57 -
Franklin Small-Mid Cap Growth VIP Fund - Class 2 149,397 149,397 - 149,397 152,288 10,440.01 3,288.76 -
Franklin U.S. Government Securities VIP Fund - Class 2 55,742 55,742 - 55,742 59,076 5,308.81 4,330.75 -
Templeton Global Bond VIP Fund - Class 2 8,609 8,609 - 8,609 9,419 653.65 710.73 -
Templeton Growth VIP Fund - Class 2 149,257 149,257 - 149,257 124,331 10,548.18 5,919.25 -
LVIP American Century Capital Appreciation Fund - Standard II 113,765 113,765 - 113,765 112,831 7,504.28 2,455.27 -
LVIP American Century Inflation Protection Fund - Standard II 10,945 10,945 - 10,945 12,405 1,212.43 765.18 -
LVIP American Century Ultra Fund - Standard II 219,923 219,923 - 219,923 163,041 6,982.58 2,742.59 -
LVIP JPMorgan Mid Cap Value Fund - Standard 419,686 411,709 7,977 419,686 471,936 46,569.66 7,918.79 153.43

See accompanying notes, including note 6 which includes per unit information.

3

COUNTRY Investors Variable Annuity Account

Statements of Assets and Liabilities (continued)

December 31, 2025

Net assets Investments in mutual funds
Investments in
shares of Contracts in Annuitized
mutual funds, Accumulation annuitization Total net Accumulation units
Subaccount at fair value units period assets Cost Shares owned units outstanding outstanding
LVIP JPMorgan Small Cap Core Fund - Service $ 335,904 $ 335,904 $ - $ 335,904 $ 305,322 15,543.93 5,870.22 -
LVIP JPMorgan Small Cap Core Fund - Standard 239,147 239,147 - 239,147 212,310 10,897.09 5,278.06 -
T. Rowe Price All-Cap Opportunities Portfolio 5,119,768 5,119,768 - 5,119,768 4,559,860 129,091.48 50,679.87 -
T. Rowe Price Equity Income Portfolio 4,262,159 4,262,159 - 4,262,159 3,954,677 147,428.54 102,151.99 -
T. Rowe Price Moderate Allocation Portfolio 453,067 453,067 - 453,067 419,835 20,199.13 13,055.34 -
T. Rowe Price International Stock Portfolio 2,071,040 2,071,040 - 2,071,040 1,991,825 130,254.12 76,151.89 -

See accompanying notes, including note 6 which includes per unit information.

4

COUNTRY Investors Variable Annuity Account

Statements of Operations

Year Ended December 31, 2025

Realized gain (loss) on
Income Expenses investments
Change in
unrealized
Net Realized gain Net realized appreciation/ Net increase in
Mortality and investment (loss) on sale Realized gain gain (loss) on depreciation of net assets from
Subaccount Dividends expense risk income (loss) of fund shares distributions investments investments operations
BNY Mellon VIF Appreciation Portfolio - Initial Shares $ 172 $ (573 ) $ (401 ) $ (4,727 ) $ 7,892 $ 3,165 $ 394 $ 3,158
BNY Mellon VIF Growth & Income Portfolio - Initial Shares 825 (2,185 ) (1,360 ) 7,490 14,101 21,591 6,948 27,179
BNY Mellon VIF Small Cap Portfolio - Initial Shares 936 (1,685 ) (749 ) (3,739 ) - (3,739 ) 18,325 13,837
CVT EAFE International Index Portfolio - Class F 31,323 (15,509 ) 15,814 42,861 - 42,861 265,305 323,980
CVT Russell 2000® Small Cap Index Portfolio 5,908 (4,418 ) 1,490 13,171 19,223 32,394 5,565 39,449
CVT Russell 2000® Small Cap Index Portfolio - Class F 268 (189 ) 79 (160 ) 873 713 1,109 1,901
CVT S&P MidCap 400 Index Portfolio 2,145 (2,298 ) (153 ) 11,175 12,911 24,086 (13,038 ) 10,895
CVT S&P MidCap 400 Index Portfolio - Class F 150 (160 ) (10 ) 38 906 944 (144 ) 790
DWS Global Small Cap VIP - Class A 297 (298 ) (1 ) (93 ) 1,463 1,370 3,190 4,559
Federated Hermes Government Money Fund II - Service Shares 15,867 (5,157 ) 10,710 - - - - 10,710
Federated Hermes Managed Volatility Fund II - Primary Shares 8,840 (3,665 ) 5,175 (1,633 ) 5,393 3,760 8,530 17,465
Federated Hermes Quality Bond Fund II - Primary Shares 30,343 (10,564 ) 19,779 (8,860 ) - (8,860 ) 38,772 49,691
Fidelity® VIP Contrafund® Portfolio - Initial Class 4,629 (39,306 ) (34,677 ) 241,978 529,886 771,864 (121,042 ) 616,145
Fidelity® VIP Contrafund® Portfolio - Service Class 2 - (4,194 ) (4,194 ) 67,745 56,813 124,558 (57,634 ) 62,730
Fidelity® VIP Growth & Income Portfolio - Initial Class 6,509 (4,927 ) 1,582 8,398 39,244 47,642 27,176 76,400
Fidelity® VIP Growth Portfolio - Initial Class 2,251 (9,309 ) (7,058 ) 36,760 99,927 136,687 (27,927 ) 101,702
Fidelity® VIP Growth Portfolio - Service Class 2 49 (1,142 ) (1,093 ) 524 13,244 13,768 (490 ) 12,185
Fidelity® VIP High Income Portfolio - Service Class 2 665 (121 ) 544 43 - 43 293 880
Fidelity® VIP Index 500 Portfolio - Initial Class 37,655 (38,914 ) (1,259 ) 230,832 16,807 247,639 259,378 505,758
Fidelity® VIP Index 500 Portfolio - Service Class 2 21,321 (27,880 ) (6,559 ) 272,682 12,939 285,621 45,580 324,642
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class 174,501 (59,469 ) 115,032 (85,486 ) - (85,486 ) 258,137 287,683
Fidelity® VIP Mid Cap Portfolio - Service Class 2 5,800 (28,094 ) (22,294 ) 23,831 283,093 306,924 (61,571 ) 223,059
Fidelity® VIP Overseas Portfolio - Initial Class 11,764 (9,112 ) 2,652 28,408 65,618 94,026 33,782 130,460
Fidelity® VIP Real Estate Portfolio - Service Class 2 7,940 (5,063 ) 2,877 (5,477 ) 186 (5,291 ) 8,030 5,616
Franklin Global Real Estate VIP Fund - Class 2 6,088 (5,143 ) 945 (15,457 ) - (15,457 ) 42,915 28,403
Franklin Mutual Shares VIP Fund - Class 2 1,700 (973 ) 727 (2,003 ) 8,377 6,374 528 7,629
Franklin Small Cap Value VIP Fund - Class 2 10,379 (11,571 ) (1,192 ) (24,952 ) 80,946 55,994 3,185 57,987
Franklin Small-Mid Cap Growth VIP Fund - Class 2 - (1,833 ) (1,833 ) (5,482 ) 8,515 3,033 310 1,510
Franklin U.S. Government Securities VIP Fund - Class 2 2,063 (762 ) 1,301 (8,839 ) - (8,839 ) 10,835 3,297
Templeton Global Bond VIP Fund - Class 2 - (98 ) (98 ) (206 ) - (206 ) 1,395 1,091
Templeton Growth VIP Fund - Class 2 1,188 (1,614 ) (426 ) (1,152 ) 10,195 9,043 18,977 27,594

See accompanying notes.

5

COUNTRY Investors Variable Annuity Account

Statements of Operations (continued)

Year Ended December 31, 2025

Realized gain (loss) on
Income Expenses investments
Change in
unrealized
Net Realized gain Net realized appreciation/ Net increase in
Mortality and investment (loss) on sale Realized gain gain (loss) on depreciation of net assets from
Subaccount Dividends expense risk income (loss) of fund shares distributions investments investments operations
LVIP American Century Capital Appreciation Fund - Standard II $ - $ (1,354 ) $ (1,354 ) $ 1,184 $ 18,296 $ 19,480 $ (11,810 ) $ 6,316
LVIP American Century Inflation Protection Fund - Standard II 857 (179 ) 678 (437 ) - (437 ) 627 868
LVIP American Century Ultra Fund - Standard II - (3,066 ) (3,066 ) 32,833 19,855 52,688 (22,292 ) 27,330
LVIP JPMorgan Mid Cap Value Fund - Standard 4,642 (4,944 ) (302 ) (787 ) 44,989 44,202 (29,868 ) 14,032
LVIP JPMorgan Small Cap Core Fund - Service 1,372 (3,889 ) (2,517 ) 10,294 26,457 36,751 (11,389 ) 22,845
LVIP JPMorgan Small Cap Core Fund - Standard 1,489 (2,884 ) (1,395 ) (4,807 ) 20,179 15,372 7,857 21,834
T. Rowe Price All-Cap Opportunities Portfolio - (59,098 ) (59,098 ) 112,826 561,383 674,209 48,003 663,114
T. Rowe Price Equity Income Portfolio 68,432 (50,252 ) 18,180 92,383 405,040 497,423 (16,174 ) 499,429
T. Rowe Price Moderate Allocation Portfolio 9,716 (5,097 ) 4,619 329 19,341 19,670 28,539 52,828
T. Rowe Price International Stock Portfolio 38,846 (24,986 ) 13,860 (33,442 ) 170,615 137,173 169,158 320,191

See accompanying notes.

6

COUNTRY Investors Variable Annuity Account

Statements of Changes in Net Assets

Year Ended December 31, 2025

Operations Contract transactions
Transfers
between
Change in subaccounts, Net increase
unrealized including (decrease) in
Net Net realized appreciation/ Net increase Transfers of Transfers of Declared net assets Total
Net Assets at investment gain (loss) depreciation in net assets Transfers surrenders administrative Interest from increase Net Assets at
December 31, income on of from of net and death and other Option contract (decrease) in December 31,
Subaccount 2024 (loss) investments investments operations premiums benefits charges account transactions net assets 2025
BNY Mellon VIF Appreciation Portfolio - Initial Shares $ 56,334 $ (401 ) $ 3,165 $ 394 $ 3,158 $ 95 $ (27,574 ) $ (73 ) $ 276 $ (27,276 ) $ (24,118 ) $ 32,216
BNY Mellon VIF Growth & Income Portfolio - Initial Shares 195,753 (1,360 ) 21,591 6,948 27,179 400 (25,885 ) (110 ) 1,045 (24,550 ) 2,629 198,382
BNY Mellon VIF Small Cap Portfolio - Initial Shares 149,181 (749 ) (3,739 ) 18,325 13,837 1,923 (18,888 ) (133 ) 1,495 (15,603 ) (1,766 ) 147,415
CVT EAFE International Index Portfolio - Class F 1,276,230 15,814 42,861 265,305 323,980 7,026 (240,772 ) (2,560 ) (46,899 ) (283,205 ) 40,775 1,317,005
CVT Russell 2000® Small Cap Index Portfolio 393,608 1,490 32,394 5,565 39,449 6,399 (62,066 ) 160 3,213 (52,294 ) (12,845 ) 380,763
CVT Russell 2000® Small Cap Index Portfolio - Class F 15,171 79 713 1,109 1,901 - - (46 ) 262 216 2,117 17,288
CVT S&P MidCap 400 Index Portfolio 211,103 (153 ) 24,086 (13,038 ) 10,895 4,412 (29,708 ) (131 ) 2,327 (23,100 ) (12,205 ) 198,898
CVT S&P MidCap 400 Index Portfolio - Class F 13,127 (10 ) 944 (144 ) 790 - - (3 ) 406 403 1,193 14,320
DWS Global Small Cap VIP - Class A 23,746 (1 ) 1,370 3,190 4,559 - (323 ) (34 ) 100 (257 ) 4,302 28,048
Federated Hermes Government Money Fund II - Service Shares 454,688 10,710 - - 10,710 6,907 (64,523 ) (489 ) 3,055 (55,050 ) (44,340 ) 410,348
Federated Hermes Managed Volatility Fund II - Primary Shares 323,490 5,175 3,760 8,530 17,465 10,230 (40,892 ) (315 ) 5,289 (25,688 ) (8,223 ) 315,267
Federated Hermes Quality Bond Fund II - Primary Shares 908,503 19,779 (8,860 ) 38,772 49,691 13,452 (104,551 ) (558 ) (209 ) (91,866 ) (42,175 ) 866,328
Fidelity® VIP Contrafund® Portfolio - Initial Class 3,278,432 (34,677 ) 771,864 (121,042 ) 616,145 24,815 (342,605 ) (3,405 ) (25,809 ) (347,004 ) 269,141 3,547,573
Fidelity® VIP Contrafund® Portfolio - Service Class 2 361,724 (4,194 ) 124,558 (57,634 ) 62,730 - (69,700 ) (164 ) (1,832 ) (71,696 ) (8,966 ) 352,758
Fidelity® VIP Growth & Income Portfolio - Initial Class 383,442 1,582 47,642 27,176 76,400 1,230 (5,459 ) (376 ) (2,384 ) (6,989 ) 69,411 452,853
Fidelity® VIP Growth Portfolio - Initial Class 751,625 (7,058 ) 136,687 (27,927 ) 101,702 890 (73,466 ) 460 813 (71,303 ) 30,399 782,024

See accompanying notes.

7

COUNTRY Investors Variable Annuity Account

Statements of Changes in Net Assets (continued)

Year Ended December 31, 2025

Operations Contract transactions
Transfers
between
Change in subaccounts, Net increase
unrealized including (decrease) in
Net Net realized appreciation/ Net increase Transfers of Transfers of Declared net assets Total
Net Assets at investment gain (loss) depreciation in net assets Transfers surrenders administrative Interest from increase Net Assets at
December 31, income on of from of net and death and other Option contract (decrease) in December 31,
Subaccount 2024 (loss) investments investments operations premiums benefits charges account transactions net assets 2025
Fidelity® VIP Growth Portfolio - Service Class 2 $ 91,709 $ (1,093 ) $ 13,768 $ (490 ) $ 12,185 $ - $ - $ (3 ) $ (165 ) $ (168 ) $ 12,017 $ 103,726
Fidelity® VIP High Income Portfolio - Service Class 2 9,847 544 43 293 880 - (436 ) (11 ) (13 ) (460 ) 420 10,267
Fidelity® VIP Index 500 Portfolio - Initial Class 3,211,481 (1,259 ) 247,639 259,378 505,758 62,912 (218,439 ) (1,771 ) (53,842 ) (211,140 ) 294,618 3,506,099
Fidelity® VIP Index 500 Portfolio - Service Class 2 2,470,555 (6,559 ) 285,621 45,580 324,642 8,820 (350,047 ) (3,532 ) (68,174 ) (412,933 ) (88,291 ) 2,382,264
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class 4,967,362 115,032 (85,486 ) 258,137 287,683 53,211 (559,650 ) (5,386 ) 184,358 (327,467 ) (39,784 ) 4,927,578
Fidelity® VIP Mid Cap Portfolio - Service Class 2 2,459,527 (22,294 ) 306,924 (61,571 ) 223,059 20,700 (252,276 ) (2,590 ) 29,481 (204,685 ) 18,374 2,477,901
Fidelity® VIP Overseas Portfolio - Initial Class 702,922 2,652 94,026 33,782 130,460 24,748 (85,301 ) (445 ) (19,237 ) (80,235 ) 50,225 753,147
Fidelity® VIP Real Estate Portfolio - Service Class 2 451,113 2,877 (5,291 ) 8,030 5,616 2,153 (66,617 ) (774 ) 19,953 (45,285 ) (39,669 ) 411,444
Franklin Global Real Estate VIP Fund - Class 2 429,468 945 (15,457 ) 42,915 28,403 11,755 (71,519 ) (336 ) 10,479 (49,621 ) (21,218 ) 408,250
Franklin Mutual Shares VIP Fund - Class 2 79,465 727 6,374 528 7,629 - (10,085 ) (76 ) 406 (9,755 ) (2,126 ) 77,339
Franklin Small Cap Value VIP Fund - Class 2 1,004,375 (1,192 ) 55,994 3,185 57,987 6,718 (99,120 ) (936 ) 29,068 (64,270 ) (6,283 ) 998,092
Franklin Small-Mid Cap Growth VIP Fund - Class 2 168,213 (1,833 ) 3,033 310 1,510 1,080 (4,455 ) (95 ) (16,856 ) (20,326 ) (18,816 ) 149,397
Franklin U.S. Government Securities VIP Fund - Class 2 91,782 1,301 (8,839 ) 10,835 3,297 2,665 (41,991 ) (60 ) 49 (39,337 ) (36,040 ) 55,742
Templeton Global Bond VIP Fund - Class 2 7,925 (98 ) (206 ) 1,395 1,091 - (351 ) (6 ) (50 ) (407 ) 684 8,609
Templeton Growth VIP Fund - Class 2 123,953 (426 ) 9,043 18,977 27,594 3,085 (5,331 ) (105 ) 61 (2,290 ) 25,304 149,257
LVIP American Century Capital Appreciation Fund - Standard II 109,641 (1,354 ) 19,480 (11,810 ) 6,316 2,793 - (87 ) (4,898 ) (2,192 ) 4,124 113,765

See accompanying notes.

8

COUNTRY Investors Variable Annuity Account

Statements of Changes in Net Assets (continued)

Year Ended December 31, 2025

Operations Contract transactions
Transfers
between
Change in subaccounts, Net increase
unrealized including (decrease) in
Net Net realized appreciation/ Net increase Transfers of Transfers of Declared net assets Total
Net Assets at investment gain (loss) depreciation in net assets Transfers surrenders administrative Interest from increase Net Assets at
December 31, income on of from of net and death and other Option contract (decrease) in December 31,
Subaccount 2024 (loss) investments investments operations premiums benefits charges account transactions net assets 2025
LVIP American Century Inflation Protection Fund - Standard II $ 17,458 $ 678 $ (437 ) $ 627 $ 868 $ - $ (7,569 ) $ (14 ) $ 202 $ (7,381 ) $ (6,513 ) $ 10,945
LVIP American Century Ultra Fund - Standard II 286,328 (3,066 ) 52,688 (22,292 ) 27,330 3,222 (97,177 ) (131 ) 351 (93,735 ) (66,405 ) 219,923
LVIP JPMorgan Mid Cap Value Fund - Standard 417,400 (302 ) 44,202 (29,868 ) 14,032 3,218 (20,257 ) 451 4,842 (11,746 ) 2,286 419,686
LVIP JPMorgan Small Cap Core Fund - Service 357,803 (2,517 ) 36,751 (11,389 ) 22,845 1,502 (62,235 ) (539 ) 16,528 (44,744 ) (21,899 ) 335,904
LVIP JPMorgan Small Cap Core Fund - Standard 274,402 (1,395 ) 15,372 7,857 21,834 4,216 (52,093 ) (186 ) (9,026 ) (57,089 ) (35,255 ) 239,147
T. Rowe Price All-Cap Opportunities Portfolio 5,056,418 (59,098 ) 674,209 48,003 663,114 40,059 (506,506 ) (6,882 ) (126,435 ) (599,764 ) 63,350 5,119,768
T. Rowe Price Equity Income Portfolio 4,350,121 18,180 497,423 (16,174 ) 499,429 40,037 (698,342 ) (5,602 ) 76,516 (587,391 ) (87,962 ) 4,262,159
T. Rowe Price Moderate Allocation Portfolio 412,715 4,619 19,670 28,539 52,828 665 (12,428 ) (372 ) (341 ) (12,476 ) 40,352 453,067
T. Rowe Price International Stock Portfolio 2,100,240 13,860 137,173 169,158 320,191 29,464 (365,482 ) (3,208 ) (10,165 ) (349,391 ) (29,200 ) 2,071,040

See accompanying notes.

9

COUNTRY Investors Variable Annuity Account

Statements of Changes in Net Assets

Year Ended December 31, 2024

Operations Contract transactions
Transfers
between
Change in subaccounts, Net increase
unrealized Net increase including (decrease) in
Net Net realized appreciation/ (decrease) in Transfers of Transfers of Declared net assets Total
Net Assets at investment gain (loss) depreciation net assets Transfers surrenders administrative Interest from increase Net Assets at
December 31, income on of from of net and death and other Option contract (decrease) in December 31,
Subaccount 2023 (loss) investments investments operations premiums benefits charges account transactions net assets 2024
BNY Mellon VIF Appreciation Portfolio - Initial Shares $ 52,466 $ (434 ) $ 3,617 $ 2,725 $ 5,908 $ 730 $ (2,536 ) $ (89 ) $ (145 ) $ (2,040 ) $ 3,868 $ 56,334
BNY Mellon VIF Growth & Income Portfolio - Initial Shares 155,944 (1,188 ) 9,462 25,706 33,980 400 (1,996 ) (114 ) 7,539 5,829 39,809 195,753
BNY Mellon VIF Small Cap Portfolio - Initial Shares 142,907 (778 ) (76 ) 5,844 4,990 3,184 (3,541 ) (160 ) 1,801 1,284 6,274 149,181
CVT EAFE International Index Portfolio - Class F 1,326,613 20,997 13,881 (10,377 ) 24,501 14,694 (106,494 ) (2,663 ) 19,579 (74,884 ) (50,383 ) 1,276,230
CVT Russell 2000® Small Cap Index Portfolio 375,305 100 10,910 25,863 36,873 6,563 (17,567 ) 105 (7,671 ) (18,570 ) 18,303 393,608
CVT Russell 2000® Small Cap Index Portfolio - Class F 21,186 (32 ) 1,649 (192 ) 1,425 - (6,617 ) (63 ) (760 ) (7,440 ) (6,015 ) 15,171
CVT S&P MidCap 400 Index Portfolio 184,601 16 10,913 12,196 23,125 950 (5,272 ) (174 ) 7,873 3,377 26,502 211,103
CVT S&P MidCap 400 Index Portfolio - Class F 15,854 (29 ) 1,602 (31 ) 1,542 - (3,944 ) (19 ) (306 ) (4,269 ) (2,727 ) 13,127
DWS Global Small Cap VIP - Class A 20,135 48 903 188 1,139 3,906 (1,594 ) (35 ) 195 2,472 3,611 23,746
Federated Hermes Government Money Fund II - Service Shares 439,201 15,187 - - 15,187 15,865 (32,199 ) (486 ) 17,120 300 15,487 454,688
Federated Hermes Managed Volatility Fund II - Primary Shares 310,159 3,270 (6,497 ) 46,124 42,897 3,995 (34,644 ) (328 ) 1,411 (29,566 ) 13,331 323,490
Federated Hermes Quality Bond Fund II - Primary Shares 912,785 15,604 (7,494 ) 15,731 23,841 43,944 (78,665 ) (576 ) 7,174 (28,123 ) (4,282 ) 908,503
Fidelity® VIP Contrafund® Portfolio - Initial Class 2,593,310 (31,230 ) 473,888 383,135 825,793 27,645 (115,525 ) (3,418 ) (49,373 ) (140,671 ) 685,122 3,278,432
Fidelity® VIP Contrafund® Portfolio - Service Class 2 342,052 (4,200 ) 81,889 21,330 99,019 16,927 (88,122 ) (163 ) (7,989 ) (79,347 ) 19,672 361,724
Fidelity® VIP Growth & Income Portfolio - Initial Class 308,330 1,027 29,681 35,302 66,010 1,470 (2,730 ) (349 ) 10,711 9,102 75,112 383,442
Fidelity® VIP Growth Portfolio - Initial Class 653,922 (9,044 ) 204,782 (9,157 ) 186,581 810 (90,269 ) 351 230 (88,878 ) 97,703 751,625

See accompanying notes.

10

COUNTRY Investors Variable Annuity Account

Statements of Changes in Net Assets (continued)

Year Ended December 31, 2024

Operations Contract transactions
Transfers
between
Change in subaccounts, Net increase
unrealized Net increase including (decrease) in
Net Net realized appreciation/ (decrease) in Transfers of Transfers of Declared net assets Total
Net Assets at investment gain (loss) depreciation net assets Transfers surrenders administrative Interest from increase Net Assets at
December 31, income on of from of net and death and other Option contract (decrease) in December 31,
Subaccount 2023 (loss) investments investments operations premiums benefits charges account transactions net assets 2024
Fidelity® VIP Growth Portfolio - Service Class 2 $ 94,118 $ (1,071 ) $ 30,085 $ (5,813 ) $ 23,201 $ - $ (25,236 ) $ (3 ) $ (371 ) $ (25,610 ) $ (2,409 ) $ 91,709
Fidelity® VIP High Income Portfolio - Service Class 2 6,371 488 35 197 720 3,906 (1,199 ) (12 ) 61 2,756 3,476 9,847
Fidelity® VIP Index 500 Portfolio - Initial Class 2,792,212 1,994 180,800 455,219 638,013 19,809 (185,694 ) (1,954 ) (50,905 ) (218,744 ) 419,269 3,211,481
Fidelity® VIP Index 500 Portfolio - Service Class 2 2,289,616 (4,321 ) 244,663 272,877 513,219 24,719 (235,799 ) (3,923 ) (117,277 ) (332,280 ) 180,939 2,470,555
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class 5,180,572 115,319 (102,533 ) 14,378 27,164 85,452 (508,319 ) (5,959 ) 188,452 (240,374 ) (213,210 ) 4,967,362
Fidelity® VIP Mid Cap Portfolio - Service Class 2 2,271,610 (21,210 ) 340,169 37,153 356,112 21,684 (141,760 ) (2,820 ) (45,299 ) (168,195 ) 187,917 2,459,527
Fidelity® VIP Overseas Portfolio - Initial Class 719,004 3,101 52,005 (26,275 ) 28,831 19,563 (67,389 ) (496 ) 3,409 (44,913 ) (16,082 ) 702,922
Fidelity® VIP Real Estate Portfolio - Service Class 2 481,745 12,414 (1,372 ) 12,258 23,300 5,506 (55,403 ) (845 ) (3,190 ) (53,932 ) (30,632 ) 451,113
Franklin Global Real Estate VIP Fund - Class 2 455,542 2,890 (10,378 ) 2,946 (4,542 ) 9,686 (38,023 ) (341 ) 7,146 (21,532 ) (26,074 ) 429,468
Franklin Mutual Shares VIP Fund - Class 2 71,945 627 1,402 5,151 7,180 - (49 ) (79 ) 468 340 7,520 79,465
Franklin Small Cap Value VIP Fund - Class 2 967,922 (2,677 ) 876 101,705 99,904 11,227 (63,842 ) (1,012 ) (9,824 ) (63,451 ) 36,453 1,004,375
Franklin Small-Mid Cap Growth VIP Fund - Class 2 151,714 (1,933 ) (6,297 ) 22,772 14,542 899 (10,484 ) (114 ) 11,656 1,957 16,499 168,213
Franklin U.S. Government Securities VIP Fund - Class 2 107,214 1,841 (5,034 ) 3,233 40 3,313 (8,494 ) (69 ) (10,222 ) (15,472 ) (15,432 ) 91,782
Templeton Global Bond VIP Fund - Class 2 8,400 (97 ) (189 ) (784 ) (1,070 ) - (314 ) (6 ) 915 595 (475 ) 7,925
Templeton Growth VIP Fund - Class 2 117,775 (318 ) (437 ) 5,642 4,887 3,527 (1,801 ) (107 ) (328 ) 1,291 6,178 123,953
LVIP American Century Capital Appreciation Fund - Standard II 85,163 (1,172 ) 6,184 15,525 20,537 3,511 - (79 ) 509 3,941 24,478 109,641

See accompanying notes.

11

COUNTRY Investors Variable Annuity Account

Statements of Changes in Net Assets (continued)

Year Ended December 31, 2024

Operations Contract transactions
Transfers
between
Change in subaccounts, Net increase
unrealized Net increase including (decrease) in
Net Net realized appreciation/ (decrease) in Transfers of Transfers of Declared net assets Total
Net Assets at investment gain (loss) depreciation net assets Transfers surrenders administrative Interest from increase Net Assets at
December 31, income on of from of net and death and other Option contract (decrease) in December 31,
Subaccount 2023 (loss) investments investments operations premiums benefits charges account transactions net assets 2024
LVIP American Century Inflation Protection Fund - Standard II $ 17,935 $ 479 $ (47 ) $ (314 ) $ 118 $ - $ (1,049 ) $ (15 ) $ 469 $ (595 ) $ (477 ) $ 17,458
LVIP American Century Ultra Fund - Standard II 288,683 (3,473 ) 55,466 18,593 70,586 3,128 (75,039 ) (131 ) (899 ) (72,941 ) (2,355 ) 286,328
LVIP JPMorgan Mid Cap Value Fund - Standard 374,467 247 67,963 (20,173 ) 48,037 3,774 (11,444 ) 374 2,192 (5,104 ) 42,933 417,400
LVIP JPMorgan Small Cap Core Fund - Service 363,438 (2,027 ) 18,492 19,034 35,499 5,895 (43,607 ) (585 ) (2,837 ) (41,134 ) (5,635 ) 357,803
LVIP JPMorgan Small Cap Core Fund - Standard 259,247 (1,097 ) 6,092 21,684 26,679 3,980 (16,024 ) (205 ) 725 (11,524 ) 15,155 274,402
T. Rowe Price All-Cap Opportunities Portfolio 4,604,791 (57,046 ) 690,116 418,173 1,051,243 28,133 (366,456 ) (7,307 ) (253,986 ) (599,616 ) 451,627 5,056,418
T. Rowe Price Equity Income Portfolio 4,275,741 27,741 296,445 120,531 444,717 62,465 (378,646 ) (6,058 ) (48,098 ) (370,337 ) 74,380 4,350,121
T. Rowe Price Moderate Allocation Portfolio 367,369 3,922 11,034 16,198 31,154 50,451 (35,069 ) (397 ) (793 ) 14,192 45,346 412,715
T. Rowe Price International Stock Portfolio 2,135,651 (6,033 ) 27,190 24,649 45,806 31,763 (186,756 ) (3,414 ) 77,190 (81,217 ) (35,411 ) 2,100,240

See accompanying notes.

12

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements

December 31, 2025

1. Organization and Significant Accounting Policies

Organization

COUNTRY Investors Variable Annuity Account (the Account), a unit investment trust registered under the Investment Company Act of 1940, as amended, was established by COUNTRY Investors Life Assurance Company (the Company) in 2002 and exists in accordance with the rules and regulations of the Illinois Department of Insurance. The Account is a funding vehicle for individual flexible premium deferred variable annuity contracts issued by the Company. The Company discontinued sales of variable annuity contracts but continues to receive premiums from sales that occurred prior to this change.

Under applicable insurance law, the assets and liabilities of the Account are clearly identified and distinguished from the Company's other assets and liabilities. The portion of the Account's assets applicable to the variable annuity contracts is not available to satisfy liabilities arising out of any other business the Company may conduct.

At the direction of eligible contract owners, the Account invests in the following forty-three investment subaccounts which, in turn, own open-end mutual fund shares of registered investment companies (the Funds). Eligible contract owners may also allocate funds to the Declared Interest Option (DIO) account. The DIO is funded by the general account of the Company and pays interest at declared rates with a guaranteed minimum. Assets and liabilities associated with funds allocated to the DIO are excluded from the Account as these are included in the Company's general account.

Subaccount / Fund
BNY Mellon Variable Investment Fund Fidelity® Variable Insurance Products Funds (continued)
BNY Mellon VIF Appreciation Portfolio - Initial Shares Fidelity® VIP Investment Grade Bond Portfolio - Initial Class
BNY Mellon VIF Growth & Income Portfolio - Initial Shares Fidelity® VIP Mid Cap Portfolio - Service Class 2
BNY Mellon VIF Small Cap Portfolio - Initial Shares (3) Fidelity® VIP Overseas Portfolio - Initial Class
Calvert Variable Trust, Inc. Fidelity® VIP Real Estate Portfolio - Service Class 2
CVT EAFE International Index Portfolio - Class F Franklin Templeton Variable Insurance Products Trust
CVT Russell 2000® Small Cap Index Portfolio Franklin Global Real Estate VIP Fund - Class 2
CVT Russell 2000® Small Cap Index Portfolio - Class F Franklin Mutual Shares VIP Fund - Class 2
CVT S&P MidCap 400 Index Portfolio Franklin Small Cap Value VIP Fund - Class 2
CVT S&P MidCap 400 Index Portfolio - Class F Franklin Small-Mid Cap Growth VIP Fund - Class 2
Deutsche DWS Variable Series I Franklin U.S. Government Securities VIP Fund - Class 2
DWS Global Small Cap VIP - Class A Templeton Global Bond VIP Fund - Class 2
Deutsche DWS Variable Series II Templeton Growth VIP Fund - Class 2
DWS International Opportunities VIP - Class A (1) (2) Lincoln Variable Insurance Products Trust
Federated Hermes Insurance Series LVIP American Century Capital Appreciation Fund - Standard II
Federated Hermes Government Money Fund II - Service Shares LVIP American Century Inflation Protection Fund - Standard II
Federated Hermes Managed Volatility Fund II - Primary Shares LVIP American Century Ultra Fund - Standard II
Federated Hermes Quality Bond Fund II - Primary Shares LVIP JPMorgan Mid Cap Value Fund - Standard
Fidelity® Variable Insurance Products Funds LVIP JPMorgan Small Cap Core Fund - Service
Fidelity® VIP Contrafund® Portfolio - Initial Class LVIP JPMorgan Small Cap Core Fund - Standard
Fidelity® VIP Contrafund® Portfolio - Service Class 2 T. Rowe Price Equity Series, Inc.
Fidelity® VIP Disciplined Small Cap - Service Class 2 (1) T. Rowe Price All-Cap Opportunities Portfolio
Fidelity® VIP Growth & Income Portfolio - Initial Class T. Rowe Price Equity Income Portfolio
Fidelity® VIP Growth Portfolio - Initial Class T. Rowe Price Moderate Allocation Portfolio
Fidelity® VIP Growth Portfolio - Service Class 2 T. Rowe Price International Series, Inc
Fidelity® VIP High Income Portfolio - Service Class 2 T. Rowe Price International Stock Portfolio
Fidelity® VIP Index 500 Portfolio - Initial Class
Fidelity® VIP Index 500 Portfolio - Service Class 2

13

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

(1) Subaccount was inactive during 2025 and 2024; accordingly, a Statement of Assets and Liabilities, a Statement of Operations and a Statement of Changes in Net Assets have not been presented herein.
(2) Effective May 1, 2025, Deutsche DWS Variable Series II changed the name of DWS International Growth VIP fund to DWS International Opportunities VIP.
(3) Effective December 31, 2025, BNY Mellon Variable Investment Fund changed the name of BNY Mellon VIF Opportunistic Small Cap Portfolio fund to BNY Mellon VIF Small Cap Portfolio.

Investments

Investments in shares of the Funds are stated at fair value, which is the closing net asset value per share as determined by the Funds. The first-in, first-out cost basis has been used in determining the net realized gain or loss from investment transactions and unrealized appreciation or depreciation on investments. Investment transactions are accounted for on the trade date.

At December 31, 2025, all valuation inputs used to determine the fair value of mutual fund shares owned by the Account were classified as Level 1 in accordance with accounting principles generally accepted in the United States of America. There were no transfers into or out of Level 3 during the year.

Dividends and realized capital gain distributions are taken into income on an accrual basis as of the ex-dividend date and are automatically reinvested in shares of the Funds on the payable date.

Contracts in Annuitization Period

Net assets allocated to contracts in the annuitization period are computed according to the mortality table indicated in the original contract with an assumed investment return determined at the time of annuitization. The mortality risk is fully borne by the Company and may result in additional amounts being transferred into the variable annuity 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 insurance company.

Use of Estimates in the Preparation of Financial Statements

The preparation of the Account's financial statements and accompanying notes in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported and disclosed. These estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed in the financial statements and accompanying notes.

2. Expense Charges and Related Party Transactions

Paid to the Company

The Account pays the Company certain amounts relating to the distribution and administration of the contracts funded by the Account and as reimbursement for certain mortality and other risks assumed by the Company. The following summarizes those amounts.

Mortality and Expense Risk Charges: The Company deducts a daily mortality and expense risk charge from the Account at an effective annual rate of 1.20% of the average daily net asset value of the Account. These charges are assessed in return for the Company's assumption of risks associated with adverse mortality experience or excess administrative expenses in connection with contracts issued.

14

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

Administrative Charge: Prior to the annuity payment period, the Company will deduct an annual administrative charge of $30 to reimburse it for administrative expenses related to the contract. A portion of these charges may be deducted from funds held in the fixed interest subaccount.

Transfer Charge: A transfer charge of $10 may be imposed for the thirteenth and each subsequent transfer between subaccounts in any one contract year.

3. Federal Income Taxes

The operations of the Account are included in the federal income tax return of the Company, which is taxed as a life insurance company under the provisions of the Internal Revenue Code (IRC). Under the current provisions of the IRC, the Company does not expect to incur federal income taxes on the earnings of the Account to the extent the earnings are credited under the contracts. Based on this, no charge is being made currently to the Account for federal income taxes. The Company will review periodically the status of this policy. In the event of changes in the tax law, a charge may be made in future years for any federal income taxes that would be attributable to the contracts.

15

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

4. Purchases and Sales of Investment Securities

The aggregate cost of investment securities purchased and proceeds from investment securities sold by subaccount were as follows during the year ended December 31, 2025:

Cost of Proceeds
Subaccount Purchases from Sales
BNY Mellon Variable Investment Fund:
BNY Mellon VIF Appreciation Portfolio - Initial Shares $ 8,394 $ 28,179
BNY Mellon VIF Growth & Income Portfolio - Initial Shares 16,244 28,053
BNY Mellon VIF Small Cap Portfolio - Initial Shares 7,212 23,564
Calvert Variable Trust, Inc.:
CVT EAFE International Index Portfolio - Class F 37,943 305,334
CVT Russell 2000® Small Cap Index Portfolio 47,842 79,423
CVT Russell 2000® Small Cap Index Portfolio - Class F 2,315 1,147
CVT S&P MidCap 400 Index Portfolio 38,895 49,237
CVT S&P MidCap 400 Index Portfolio - Class F 1,461 162
Deutsche DWS Variable Series I:
DWS Global Small Cap VIP - Class A 1,942 737
Federated Hermes Insurance Series:
Federated Hermes Government Money Fund II - Service Shares 28,906 73,246
Federated Hermes Managed Volatility Fund II - Primary Shares 42,873 57,993
Federated Hermes Quality Bond Fund II - Primary Shares 56,223 128,310
Fidelity® Variable Insurance Products Funds:
Fidelity® VIP Contrafund® Portfolio - Initial Class 604,962 456,757
Fidelity® VIP Contrafund® Portfolio - Service Class 2 122,177 141,254
Fidelity® VIP Growth & Income Portfolio - Initial Class 47,831 13,994
Fidelity® VIP Growth Portfolio - Initial Class 104,571 83,005
Fidelity® VIP Growth Portfolio - Service Class 2 13,459 1,476
Fidelity® VIP High Income Portfolio - Service Class 2 665 581
Fidelity® VIP Index 500 Portfolio - Initial Class 148,697 344,289
Fidelity® VIP Index 500 Portfolio - Service Class 2 81,551 488,104
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class 403,441 615,876
Fidelity® VIP Mid Cap Portfolio - Service Class 2 331,148 275,034
Fidelity® VIP Overseas Portfolio - Initial Class 97,693 109,658
Fidelity® VIP Real Estate Portfolio - Service Class 2 29,738 71,960

16

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

Cost of Proceeds
Subaccount Purchases from Sales
Franklin Templeton Variable Insurance Products Trust:
Franklin Global Real Estate VIP Fund - Class 2 $ 27,109 $ 75,785
Franklin Mutual Shares VIP Fund - Class 2 10,511 11,162
Franklin Small Cap Value VIP Fund - Class 2 125,936 110,452
Franklin Small-Mid Cap Growth VIP Fund - Class 2 9,581 23,225
Franklin U.S. Government Securities VIP Fund - Class 2 4,619 42,655
Templeton Global Bond VIP Fund - Class 2 196 701
Templeton Growth VIP Fund - Class 2 16,150 8,671
Lincoln Variable Insurance Products Trust:
LVIP American Century Capital Appreciation Fund - Standard II 21,216 6,466
LVIP American Century Inflation Protection Fund - Standard II 1,150 7,853
LVIP American Century Ultra Fund - Standard II 23,252 100,198
LVIP JPMorgan Mid Cap Value Fund - Standard 58,122 25,181
LVIP JPMorgan Small Cap Core Fund - Service 69,891 90,695
LVIP JPMorgan Small Cap Core Fund - Standard 34,786 73,091
T. Rowe Price Equity Series, Inc.:
T. Rowe Price All-Cap Opportunities Portfolio 584,471 681,950
T. Rowe Price Equity Income Portfolio 623,165 787,336
T. Rowe Price Moderate Allocation Portfolio 30,174 18,690
T. Rowe Price International Series, Inc.:
T. Rowe Price International Stock Portfolio 242,110 407,026

17

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

5. Summary of Changes from Unit Transactions

Transactions in units of each subaccount were as follows for the periods ended December 31, 2025 and 2024:

Period Ended December 31,
2025 2024
Net Net
Increase Increase
Subaccount Purchased Redeemed (Decrease) Purchased Redeemed (Decrease)
BNY Mellon Variable Investment Fund:
BNY Mellon VIF Appreciation Portfolio - Initial Shares 8 556 (548 ) 18 62 (44 )
BNY Mellon VIF Growth & Income Portfolio - Initial Shares 24 432 (408 ) 162 48 114
BNY Mellon VIF Small Cap Portfolio - Initial Shares 293 908 (615 ) 226 165 61
Calvert Variable Trust, Inc.:
CVT EAFE International Index Portfolio - Class F 303 11,703 (11,400 ) 2,537 5,794 (3,257 )
CVT Russell 2000® Small Cap Index Portfolio 655 2,083 (1,428 ) 266 794 (528 )
CVT Russell 2000® Small Cap Index Portfolio - Class F 25 17 8 1 154 (153 )
CVT S&P MidCap 400 Index Portfolio 469 930 (461 ) 201 120 81
CVT S&P MidCap 400 Index Portfolio - Class F 9 - 9 - 93 (93 )
Deutsche DWS Variable Series I:
DWS Global Small Cap VIP - Class A 6 11 (5 ) 113 41 72
Federated Hermes Insurance Series:
Federated Hermes Government Money Fund II - Service Shares 1,389 6,965 (5,576 ) 3,438 3,392 46
Federated Hermes Managed Volatility Fund II - Primary Shares 1,431 2,670 (1,239 ) 375 1,869 (1,494 )
Federated Hermes Quality Bond Fund II - Primary Shares 2,174 9,604 (7,430 ) 5,884 8,236 (2,352 )
Fidelity® Variable Insurance Products Funds:
Fidelity® VIP Contrafund® Portfolio - Initial Class 989 5,347 (4,358 ) 385 2,405 (2,020 )
Fidelity® VIP Contrafund® Portfolio - Service Class 2 739 1,553 (814 ) 225 1,307 (1,082 )
Fidelity® VIP Growth & Income Portfolio - Initial Class 50 177 (127 ) 342 116 226
Fidelity® VIP Growth Portfolio - Initial Class 44 876 (832 ) 43 1,246 (1,203 )
Fidelity® VIP Growth Portfolio - Service Class 2 2 3 (1 ) - 296 (296 )
Fidelity® VIP High Income Portfolio - Service Class 2 - 16 (16 ) 162 46 116
Fidelity® VIP Index 500 Portfolio - Initial Class 1,662 5,017 (3,355 ) 615 4,568 (3,953 )
Fidelity® VIP Index 500 Portfolio - Service Class 2 640 6,251 (5,611 ) 435 5,101 (4,666 )
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class 19,379 46,167 (26,788 ) 29,446 49,993 (20,547 )
Fidelity® VIP Mid Cap Portfolio - Service Class 2 889 4,779 (3,890 ) 629 3,781 (3,152 )
Fidelity® VIP Overseas Portfolio - Initial Class 768 3,529 (2,761 ) 1,237 2,953 (1,716 )
Fidelity® VIP Real Estate Portfolio - Service Class 2 488 1,512 (1,024 ) 305 1,510 (1,205 )
Franklin Templeton Variable Insurance Products Trust:
Franklin Global Real Estate VIP Fund - Class 2 1,354 4,361 (3,007 ) 1,461 2,697 (1,236 )
Franklin Mutual Shares VIP Fund - Class 2 15 344 (329 ) 18 5 13
Franklin Small Cap Value VIP Fund - Class 2 853 2,330 (1,477 ) 482 1,911 (1,429 )
Franklin Small-Mid Cap Growth VIP Fund - Class 2 27 489 (462 ) 304 265 39
Franklin U.S. Government Securities VIP Fund - Class 2 210 3,397 (3,187 ) 366 1,643 (1,277 )
Templeton Global Bond VIP Fund - Class 2 17 54 (37 ) 93 40 53
Templeton Growth VIP Fund - Class 2 240 336 (96 ) 167 104 63

18

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

Period Ended December 31,
2025 2024
Net Net
Increase Increase
Subaccount Purchased Redeemed (Decrease) Purchased Redeemed (Decrease)
Lincoln Variable Insurance Products Trust:
LVIP American Century Capital Appreciation Fund - Standard II 71 111 (40 ) 117 15 102
LVIP American Century Inflation Protection Fund - Standard II 20 541 (521 ) 36 79 (43 )
LVIP American Century Ultra Fund - Standard II 49 1,288 (1,239 ) 49 1,175 (1,126 )
LVIP JPMorgan Mid Cap Value Fund - Standard 181 416 (235 ) 149 258 (109 )
LVIP JPMorgan Small Cap Core Fund - Service 850 1,777 (927 ) 169 974 (805 )
LVIP JPMorgan Small Cap Core Fund - Standard 341 1,662 (1,321 ) 203 485 (282 )
T. Rowe Price Equity Series, Inc.:
T. Rowe Price All-Cap Opportunities Portfolio 323 7,166 (6,843 ) 653 7,911 (7,258 )
T. Rowe Price Equity Income Portfolio 4,083 19,752 (15,669 ) 3,125 13,114 (9,989 )
T. Rowe Price Moderate Allocation Portfolio 44 445 (401 ) 1,659 1,228 431
T. Rowe Price International Series, Inc.:
T. Rowe Price International Stock Portfolio 1,434 15,643 (14,209 ) 6,118 9,496 (3,378 )

19

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

6. Unit Values

The following summarizes units outstanding, unit values, and net assets at December 31, 2025, 2024, 2023, 2022 and 2021, and investment income ratios, expense ratios, and total return ratios for the periods then ended:

As of December 31 Investment
Unit Income Expense Total
Subaccount Units Value (A) Net Assets Ratio (B) Ratio (C) Return (D)
BNY Mellon VIF Appreciation Portfolio - Initial Shares:
2025 608 $ 53.00 $ 32,216 0.36 % 1.20 % 8.76 %
2024 1,156 48.73 56,334 0.42 1.20 11.46
2023 1,200 43.72 52,466 0.72 1.20 19.55
2022 1,362 36.57 49,818 0.67 1.20 (19.04 )
2021 1,379 45.17 62,289 0.44 1.20 25.61
BNY Mellon VIF Growth & Income Portfolio - Initial Shares:
2025 2,935 67.60 198,382 0.45 1.20 15.44
2024 3,343 58.56 195,753 0.54 1.20 21.27
2023 3,229 48.29 155,944 0.66 1.20 25.20
2022 3,323 38.57 128,175 0.80 1.20 (15.84 )
2021 3,329 45.83 152,558 0.48 1.20 24.13
BNY Mellon VIF Small Cap Portfolio - Initial Shares:
2025 5,607 26.29 147,415 0.66 1.20 9.68
2024 6,222 23.97 149,181 0.67 1.20 3.36
2023 6,161 23.19 142,907 0.32 1.20 7.96
2022 6,037 21.48 129,664 - 1.20 (17.61 )
2021 6,096 26.07 158,909 0.11 1.20 15.10
CVT EAFE International Index Portfolio - Class F:
2025 45,432 28.99 1,317,005 2.41 1.20 29.07
2024 56,832 22.46 1,276,230 2.74 1.20 1.72
2023 60,089 22.08 1,326,613 2.88 1.20 16.15
2022 66,882 19.01 1,271,379 3.70 1.20 (15.74 )
2021 64,255 22.56 1,449,898 1.78 1.20 9.30
CVT Russell 2000® Small Cap Index Portfolio:
2025 9,601 39.66 380,763 1.60 1.20 11.12
2024 11,029 35.69 393,608 1.23 1.20 9.92
2023 11,557 32.47 375,305 0.86 1.20 15.22
2022 12,408 28.18 349,707 0.81 1.20 (21.46 )
2021 13,553 35.88 486,330 0.75 1.20 13.15
CVT Russell 2000® Small Cap Index Portfolio - Class F:
2025 295 58.55 17,288 1.68 1.20 10.91
2024 287 52.79 15,171 1.04 1.20 9.66
2023 440 48.14 21,186 0.49 1.20 15.00
2022 1,050 41.86 43,960 0.85 1.20 (21.61 )
2021 979 53.40 52,258 0.75 1.20 12.94
CVT S&P MidCap 400 Index Portfolio:
2025 3,724 53.41 198,898 1.11 1.20 5.87
2024 4,185 50.45 211,103 1.21 1.20 12.16
2023 4,104 44.98 184,601 1.17 1.20 14.74
2022 4,706 39.20 184,466 0.90 1.20 (14.35 )
2021 6,278 45.77 287,343 0.84 1.20 22.94

20

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

As of December 31 Investment
Unit Income Expense Total
Subaccount Units Value (A) Net Assets Ratio (B) Ratio (C) Return (D)
CVT S&P MidCap 400 Index Portfolio - Class F:
2025 271 $ 52.86 $ 14,320 1.12 % 1.20 % 5.70 %
2024 262 50.01 13,127 1.02 1.20 11.98
2023 355 44.66 15,854 0.71 1.20 14.51
2022 917 39.00 35,775 0.90 1.20 (14.53 )
2021 1,240 45.63 56,580 0.84 1.20 22.73
DWS Global Small Cap VIP - Class A:
2025 630 44.53 28,048 1.19 1.20 19.06
2024 635 37.40 23,746 1.40 1.20 4.50
2023 563 35.79 20,135 0.90 1.20 23.12
2022 584 29.07 16,988 0.55 1.20 (24.96 )
2021 557 38.74 21,560 0.36 1.20 13.57
Federated Hermes Government Money Fund II - Service Shares:
2025 41,063 9.99 410,348 3.68 1.20 2.46
2024 46,639 9.75 454,688 4.58 1.20 3.39
2023 46,593 9.43 439,201 4.43 1.20 3.29
2022 50,090 9.13 457,155 1.14 1.20 -
2021 51,941 9.13 474,229 - 1.20 (1.19 )
Federated Hermes Managed Volatility Fund II - Primary Shares:
2025 14,533 21.69 315,267 2.88 1.20 5.75
2024 15,772 20.51 323,490 2.21 1.20 14.20
2023 17,266 17.96 310,159 1.87 1.20 7.35
2022 17,333 16.73 289,930 1.85 1.20 (14.77 )
2021 18,519 19.63 363,463 1.74 1.20 17.12
Federated Hermes Quality Bond Fund II - Primary Shares:
2025 67,755 12.79 866,328 3.43 1.20 5.88
2024 75,185 12.08 908,503 2.92 1.20 2.63
2023 77,537 11.77 912,785 2.66 1.20 4.90
2022 80,986 11.22 909,017 2.59 1.20 (10.38 )
2021 87,276 12.52 1,092,710 2.89 1.20 (2.57 )
Fidelity® VIP Contrafund® Portfolio - Initial Class:
2025 39,857 89.01 3,547,573 0.14 1.20 20.04
2024 44,215 74.15 3,278,432 0.19 1.20 32.20
2023 46,235 56.09 2,593,310 0.48 1.20 31.88
2022 49,843 42.53 2,119,947 0.51 1.20 (27.19 )
2021 49,857 58.41 2,912,287 0.06 1.20 26.32
Fidelity® VIP Contrafund® Portfolio - Service Class 2:
2025 3,569 98.84 352,758 - 1.20 19.76
2024 4,383 82.53 361,724 0.03 1.20 31.86
2023 5,465 62.59 342,052 0.20 1.20 31.55
2022 8,066 47.58 383,830 0.27 1.20 (27.37 )
2021 7,911 65.51 518,196 0.03 1.20 26.01
Fidelity® VIP Growth & Income Portfolio - Initial Class:
2025 7,662 59.11 452,853 1.58 1.20 20.07
2024 7,789 49.23 383,442 1.49 1.20 20.75
2023 7,563 40.77 308,330 1.70 1.20 17.32
2022 7,601 34.75 264,139 1.69 1.20 (6.08 )
2021 7,410 37.00 274,172 2.44 1.20 24.45

21

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

As of December 31 Investment
Unit Income Expense Total
Subaccount Units Value (A) Net Assets Ratio (B) Ratio (C) Return (D)
Fidelity® VIP Growth Portfolio - Initial Class:
2025 9,120 $ 85.75 $ 782,024 0.29 % 1.20 % 13.55 %
2024 9,952 75.52 751,625 - 1.20 28.83
2023 11,155 58.62 653,922 0.13 1.20 34.63
2022 10,796 43.54 470,099 0.62 1.20 (25.36 )
2021 10,981 58.33 640,507 - 1.20 21.75
Fidelity® VIP Growth Portfolio - Service Class 2:
2025 928 111.81 103,726 0.05 1.20 13.25
2024 929 98.73 91,709 - 1.20 28.52
2023 1,225 76.82 94,118 - 1.20 34.28
2022 1,230 57.21 70,366 0.35 1.20 (25.54 )
2021 1,225 76.83 94,084 - 1.20 21.45
Fidelity® VIP High Income Portfolio - Service Class 2:
2025 363 28.31 10,267 6.54 1.20 9.01
2024 379 25.97 9,847 6.32 1.20 7.31
2023 263 24.20 6,371 5.65 1.20 8.91
2022 286 22.22 6,358 5.17 1.20 (12.69 )
2021 294 25.45 7,474 5.28 1.20 3.04
Fidelity® VIP Index 500 Portfolio - Initial Class:
2025 50,827 68.98 3,506,099 1.15 1.20 16.38
2024 54,182 59.27 3,211,481 1.27 1.20 23.40
2023 58,135 48.03 2,792,212 1.46 1.20 24.69
2022 62,571 38.52 2,409,988 1.45 1.20 (19.18 )
2021 70,977 47.66 3,382,552 1.25 1.20 27.06
Fidelity® VIP Index 500 Portfolio - Service Class 2:
2025 27,517 86.57 2,382,264 0.91 1.20 16.08
2024 33,128 74.58 2,470,555 1.03 1.20 23.11
2023 37,794 60.58 2,289,616 1.24 1.20 24.39
2022 43,129 48.70 2,100,507 1.13 1.20 (19.38 )
2021 53,120 60.41 3,209,179 1.03 1.20 26.73
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class:
2025 393,461 12.52 4,927,578 3.50 1.20 5.92
2024 420,249 11.82 4,967,362 3.46 1.20 0.60
2023 440,796 11.75 5,180,572 2.68 1.20 4.91
2022 430,370 11.20 4,819,614 2.22 1.20 (13.98 )
2021 459,602 13.02 5,984,192 2.20 1.20 (1.81 )
Fidelity® VIP Mid Cap Portfolio - Service Class 2:
2025 41,603 59.56 2,477,901 0.25 1.20 10.17
2024 45,493 54.06 2,459,527 0.34 1.20 15.76
2023 48,645 46.70 2,271,610 0.38 1.20 13.46
2022 52,244 41.16 2,150,533 0.26 1.20 (15.98 )
2021 58,038 48.99 2,843,200 0.31 1.20 23.84
Fidelity® VIP Overseas Portfolio - Initial Class:
2025 25,035 30.08 753,147 1.54 1.20 18.94
2024 27,796 25.29 702,922 1.61 1.20 3.82
2023 29,512 24.36 719,004 1.02 1.20 19.06
2022 31,128 20.46 636,871 1.11 1.20 (25.38 )
2021 30,688 27.42 841,391 0.55 1.20 18.29

22

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

As of December 31 Investment
Unit Income Expense Total
Subaccount Units Value (A) Net Assets Ratio (B) Ratio (C) Return (D)
Fidelity® VIP Real Estate Portfolio - Service Class 2:
2025 8,924 $ 46.11 $ 411,444 1.87 % 1.20 % 1.68 %
2024 9,948 45.35 451,113 3.88 1.20 5.00
2023 11,153 43.19 481,745 2.39 1.20 9.56
2022 10,680 39.42 420,973 1.08 1.20 (28.55 )
2021 11,697 55.17 645,297 0.94 1.20 37.00
Franklin Global Real Estate VIP Fund - Class 2:
2025 24,659 16.56 408,250 1.41 1.20 6.70
2024 27,666 15.52 429,468 1.84 1.20 (1.52 )
2023 28,902 15.76 455,542 2.83 1.20 10.13
2022 29,692 14.31 425,010 2.40 1.20 (26.95 )
2021 29,679 19.59 581,428 0.89 1.20 25.26
Franklin Mutual Shares VIP Fund - Class 2:
2025 2,483 31.15 77,339 2.09 1.20 10.23
2024 2,812 28.26 79,465 2.01 1.20 9.92
2023 2,799 25.71 71,945 1.64 1.20 12.12
2022 3,752 22.93 86,033 1.78 1.20 (8.54 )
2021 4,117 25.07 103,197 2.59 1.20 17.81
Franklin Small Cap Value VIP Fund - Class 2:
2025 20,967 47.60 998,092 1.07 1.20 6.37
2024 22,444 44.75 1,004,375 0.93 1.20 10.36
2023 23,873 40.55 967,922 0.53 1.20 11.43
2022 26,398 36.39 960,691 0.99 1.20 (11.14 )
2021 28,389 40.95 1,162,514 1.03 1.20 23.90
Franklin Small-Mid Cap Growth VIP Fund - Class 2:
2025 3,289 45.43 149,397 - 1.20 1.32
2024 3,751 44.84 168,213 - 1.20 9.71
2023 3,712 40.87 151,714 - 1.20 25.21
2022 3,697 32.64 120,645 - 1.20 (34.47 )
2021 3,641 49.81 181,379 - 1.20 8.71
Franklin U.S. Government Securities VIP Fund - Class 2:
2025 4,331 12.87 55,742 3.23 1.20 5.41
2024 7,518 12.21 91,782 3.13 1.20 0.16
2023 8,795 12.19 107,214 2.69 1.20 3.22
2022 8,774 11.81 103,602 2.30 1.20 (10.80 )
2021 9,474 13.24 125,445 2.47 1.20 (3.00 )
Templeton Global Bond VIP Fund - Class 2:
2025 711 12.11 8,609 - 1.20 14.35
2024 748 10.59 7,925 - 1.20 (12.48 )
2023 695 12.10 8,400 - 1.20 1.68
2022 706 11.90 8,394 - 1.20 (6.08 )
2021 1,656 12.67 20,977 - 1.20 (6.08 )
Templeton Growth VIP Fund - Class 2:
2025 5,919 25.22 149,257 0.88 1.20 22.37
2024 6,015 20.61 123,953 0.95 1.20 4.14
2023 5,952 19.79 117,775 3.27 1.20 19.58
2022 6,179 16.55 102,257 0.16 1.20 (12.53 )
2021 6,505 18.92 123,089 1.08 1.20 3.61

23

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

As of December 31 Investment
Unit Income Expense Total
Subaccount Units Value (A) Net Assets Ratio (B) Ratio (C) Return (D)
LVIP American Century Capital Appreciation Fund - Standard II:
2025 2,455 $ 46.33 $ 113,765 - % 1.20 % 5.44 %
2024 2,495 43.94 109,641 - 1.20 23.50
2023 2,393 35.58 85,163 - 1.20 19.28
2022 2,413 29.83 71,985 - 1.20 (28.98 )
2021 2,180 42.00 91,574 - 1.20 9.86
LVIP American Century Inflation Protection Fund - Standard II:
2025 765 14.30 10,945 5.73 1.20 5.30
2024 1,286 13.58 17,458 3.86 1.20 0.59
2023 1,329 13.50 17,935 3.61 1.20 2.43
2022 1,357 13.18 17,894 5.17 1.20 (13.91 )
2021 1,403 15.31 21,483 3.39 1.20 5.30
LVIP American Century Ultra Fund - Standard II:
2025 2,743 80.19 219,923 - 1.20 11.51
2024 3,982 71.91 286,328 - 1.20 27.25
2023 5,108 56.51 288,683 - 1.20 41.81
2022 5,258 39.85 209,513 - 1.20 (33.17 )
2021 7,167 59.63 427,363 - 1.20 21.69
LVIP JPMorgan Mid Cap Value Fund - Standard:
2025 8,072 51.99 419,686 1.12 1.20 3.46
2024 8,307 50.25 417,400 1.26 1.20 12.92
2023 8,416 44.50 374,467 3.22 1.20 9.61
2022 8,141 40.60 330,518 0.96 1.20 (9.23 )
2021 8,433 44.73 377,247 0.91 1.20 28.35
LVIP JPMorgan Small Cap Core Fund - Service:
2025 5,870 57.22 335,904 0.42 1.20 8.70
2024 6,797 52.64 357,803 0.65 1.20 10.10
2023 7,602 47.81 363,438 0.99 1.20 11.47
2022 7,899 42.89 338,781 0.09 1.20 (20.52 )
2021 8,355 53.96 450,820 0.31 1.20 19.65
LVIP JPMorgan Small Cap Core Fund - Standard:
2025 5,278 45.31 239,147 0.62 1.20 8.97
2024 6,599 41.58 274,402 0.80 1.20 10.38
2023 6,881 37.67 259,247 1.37 1.20 11.75
2022 7,010 33.71 236,293 0.45 1.20 (20.31 )
2021 7,085 42.30 299,679 0.53 1.20 19.97
T. Rowe Price All-Cap Opportunities Portfolio:
2025 50,680 101.02 5,119,768 - 1.20 14.93
2024 57,523 87.90 5,056,418 0.07 1.20 23.66
2023 64,781 71.08 4,604,791 0.25 1.20 27.43
2022 69,244 55.78 3,862,240 - 1.20 (22.43 )
2021 71,804 71.91 5,163,728 - 1.20 19.35
T. Rowe Price Equity Income Portfolio:
2025 102,152 41.72 4,262,159 1.62 1.20 13.00
2024 117,821 36.92 4,350,121 1.82 1.20 10.37
2023 127,810 33.45 4,275,741 2.09 1.20 8.22
2022 134,270 30.91 4,149,666 1.84 1.20 (4.48 )
2021 158,139 32.36 5,116,898 1.56 1.20 24.08

24

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

As of December 31 Investment
Unit Income Expense Total
Subaccount Units Value (A) Net Assets Ratio (B) Ratio (C) Return (D)
T. Rowe Price Moderate Allocation Portfolio:
2025 13,055 $ 34.70 $ 453,067 2.27 % 1.20 % 13.14 %
2024 13,456 30.67 412,715 2.26 1.20 8.72
2023 13,025 28.21 367,369 2.17 1.20 13.98
2022 20,900 24.75 517,184 1.54 1.20 (19.28 )
2021 23,145 30.66 709,530 0.98 1.20 8.76
T. Rowe Price International Stock Portfolio:
2025 76,152 27.20 2,071,040 1.85 1.20 17.04
2024 90,361 23.24 2,100,240 0.93 1.20 2.02
2023 93,739 22.78 2,135,651 0.97 1.20 14.88
2022 101,913 19.83 2,021,412 0.76 1.20 (16.82 )
2021 108,804 23.84 2,594,207 0.61 1.20 0.13

25

COUNTRY Investors Variable Annuity Account

Notes to Financial Statements (continued)

(A) There are no differences in unit value between accumulation units and units of contracts in annuitization period since there are no differences in charges that result in direct reductions of unit values.
(B) These ratios represent the dividends, excluding distributions of capital gains, received by the subaccount from the underlying mutual fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that 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 fund in which the subaccounts invest.
(C) These ratios represent the annualized contract expenses of the separate account, consisting of mortality and expense risk charges, for the period indicated. The 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 fund are excluded.
(D) These ratios represent the total return for the period indicated, including changes in the value of the underlying fund, and reflect deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented.

7. Segment Reporting

Each subaccount, as detailed in Note 1, represents a single operating segment. The Chief Operating Officer of the Company acts as the Chief Operating Decision Maker (CODM) and monitors the operating results of each subaccount. The change in net assets resulting from operations, which is used by the CODM to assess the subaccount's performance, is consistent with that presented within the subaccount's financial statements. Subaccount assets are reflected on the accompanying Statement of Assets and Liabilities and significant segment expenses are listed on the accompanying Statement of Operations.

26

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