0001164098-26-000805.txt : 20260424 0001164098-26-000805.hdr.sgml : 20260424 20260424172210 ACCESSION NUMBER: 0001164098-26-000805 CONFORMED SUBMISSION TYPE: N-VPFS PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20251231 FILED AS OF DATE: 20260424 DATE AS OF CHANGE: 20260424 EFFECTIVENESS DATE: 20260424 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RETIREMENT BUILDER VARIABLE ANNUITY ACCOUNT CENTRAL INDEX KEY: 0001016809 ORGANIZATION NAME: EIN: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-VPFS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07689 FILM NUMBER: 26895826 BUSINESS ADDRESS: STREET 1: 6400 C STREET SW CITY: CEDAR RAPIDS STATE: IA ZIP: 52499 BUSINESS PHONE: 319-355-8366 MAIL ADDRESS: STREET 1: 6400 C STREET SW CITY: CEDAR RAPIDS STATE: IA ZIP: 52499 FORMER COMPANY: FORMER CONFORMED NAME: PFL RETIREMENT BUILDER VARIABLE ANNUITY ACCOUNT DATE OF NAME CHANGE: 19960613 0001016809 S000006781 RETIREMENT BUILDER VARIABLE ANNUITY ACCOUNT C000018380 Retirement Income Builder Variable Annuity C000018381 Retirement Income Builder II Variable Annuity C000018382 Portfolio Select Variable Annuity C000018383 Immediate Income Builder C000018384 One Income Annuity C000132442 The Atlas Portfolio Builder Variable Annuity C000132443 Transamerica Access Variable Annuity C000132444 Privilege Select Variable Annuity C000132445 Premier Asset Builder Variable Annuity C000132446 Principal-Plus Variable Annuity C000132447 Immediate Income Builder II C000132448 Retirement Income Builder - BAI Variable Annuity C000132449 Transamerica Preferred Advantage Variable Annuity C000132450 Transamerica Traditions Variable Annuity C000132451 Transamerica Opportunity Builder Variable Annuity C000132452 Transamerica Principium Variable Annuity C000132453 Huntington Allstar Select N-VPFS 1 tlicretirementbuilder.htm
 
 
FINANCIAL STATEMENTS
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Years Ended December 31, 2025 and 2024
 
 
 
 
 
 
 
 
 
1
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Financial Statements
Years Ended December 31, 2025 and 2024
                   
                   
                   
                   
                   
2
 
Report of Independent Registered Public Accounting Firm4
Statement of Assets and Liabilities5
Statements of Operations and Changes in Net Assets15
Notes to Financial Statements58
 
3
 
 
Report of Independent Registered Public Accounting Firm
 
To the Board of Directors of Transamerica Life Insurance Company and
Contract Owners of Retirement Builder 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 table below that comprise Retirement Builder Variable Annuity Account (the Separate Account), as of December 31, 2025, the related statements of operations and changes in net assets for each of the periods indicated in the table below, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each subaccount as of December 31, 2025, the results of its operations and changes in its net assets for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.
Subaccounts
AB Large Cap Growth Class B Shares (1)
Invesco V.I. Government Securities Series I Shares (1)
AB Relative Value Class B Shares (1)
Invesco V.I. Government Securities Series II Shares (1)
AB Sustainable Global Thematic Growth Class B Shares (1)
Invesco V.I. Main Street Series I Shares (1)
Allspring VT Discovery All Cap Growth Class 1 Shares (1)
Invesco V.I. Main Street Series II Shares (1)
Allspring VT Discovery All Cap Growth Class 2 Shares (1)
Invesco V.I. Main Street Mid Cap Series II Shares (1)
Allspring VT Opportunity Class 1 Shares (1)
Invesco V.I. Main Street Small Cap Series II Shares (1)
Allspring VT Opportunity Class 2 Shares (1)
Janus Henderson - Balanced Service Shares (1)
Allspring VT Small Cap Growth Class 1 Shares (1)
Janus Henderson - Enterprise Service Shares (1)
Allspring VT Small Cap Growth Class 2 Shares (1)
Janus Henderson - Forty Service Shares (1)
BNY Mellon Stock Index Initial Shares (1)
Janus Henderson - Global Research Service Shares (1)
BNY Mellon Stock Index Service Shares (1)
Janus Henderson - Mid Cap Value Service Shares (1)
BNY Mellon Sustainable U.S. Equity Initial Shares (1)
Janus Henderson - Overseas Service Shares (1)
BNY Mellon VIF Appreciation Initial Shares (1)
Janus Henderson - Research Service Shares (1)
BNY Mellon VIF Government Money Market (1)
LVIP JPMorgan Core Bond Standard Shares (1)
BNY Mellon VIF Growth and Income Initial Shares (1)
LVIP JPMorgan Mid Cap Value Standard Shares (1)
BNY Mellon Small Cap Initial Shares(1)
LVIP JPMorgan U.S. Equity Standard Shares (1)
Columbia – Acorn (1)
MFS® Core Equity Initial Class (1)
Columbia - Dividend Opportunity Class 1 Shares (1)
MFS® Growth Initial Class (1)
Columbia - Income Opportunity Class 1 Shares (1)
MFS® Growth Service Class (1)
Columbia - Large Cap Growth Class 1 Shares (1)
MFS® Massachusetts Investors Growth Stock Initial Class (1)
Columbia - Overseas Core Class 2 Shares (1)
MFS® Massachusetts Investors Growth Stock Service Class (1)
Columbia - Select Mid Cap Growth Class 1 Shares (1)
MFS® New Discovery Initial Class (1)
Columbia - Select Mid Cap Value Class 1 Shares (1)
MFS® New Discovery Service Class (1)
Columbia - Small Cap Value Class 1 Shares (1)
MFS® Research Initial Class (1)
Columbia - Small Company Growth Class 1 Shares (1)
MFS® Research Service Class (1)
Columbia - Strategic Income Class 1 Shares (1)
MFS® Total Return Initial Class (1)
CTIVP® - Principal Large Cap Growth Class 1 Shares (1)
MFS® Total Return Service Class (1)
Davis Equity (1)
MFS® Total Return Bond Initial Class (1)
Federated Hermes Government Money II Service Shares (1)
MFS® Total Return Bond Service Class (1)
Federated Hermes High Income Bond II Primary Shares (1)
MFS® Utilities Initial Class (1)
Federated Hermes Kaufmann II Primary Shares (1)
MFS® Utilities Service Class (1)
Federated Hermes Kaufmann II Service Shares (1)
Putnam VT Core Equity Class IB Shares (1)
Federated Hermes Managed Volatility II Primary Shares (1)
Putnam VT Diversified Income Class IB Shares (1)
Federated Hermes Managed Volatility II Service Shares (1)
Putnam VT Focused International Equity Class IB Shares (1)
Federated Hermes Quality Bond II Primary Shares (1)
Putnam VT George Putnam Balanced Class IB Shares (1)
Fidelity® VIP Asset Manager 50% Initial Class (1)
Putnam VT Global Health Care Class IB Shares (1)
Fidelity® VIP Asset Manager 70% Initial Class (1)
Putnam VT Government Money Market Class IB Shares (1)
Fidelity® VIP Balanced Initial Class (1)
Putnam VT Income Class IB Shares (1)
Fidelity® VIP Balanced Service Class 2 (1)
Putnam VT International Equity Class IB Shares (1)
Fidelity® VIP Contrafund® Initial Class (1)
Putnam VT Large Cap Growth Class IB Shares (1)
Fidelity® VIP Contrafund® Service Class 2 (1)
Putnam VT Large Cap Value Class IB Shares (1)
Fidelity® VIP Equity-Income Initial Class (1)
Putnam VT Research Class IB Shares (1)
Fidelity® VIP Equity-Income Service Class 2 (1)
Putnam VT Sustainable Leaders Class IB Shares (1)
Fidelity® VIP Government Money Market Initial Class (1)
TA Aegon Bond Initial Class (1)
Fidelity® VIP Government Money Market Service Class 2 (1)
TA Aegon Bond Service Class (1)
Fidelity® VIP Growth Initial Class (1)
TA Aegon Core Bond Initial Class (1)
Fidelity® VIP Growth Service Class 2 (1)
TA Aegon High Yield Bond Initial Class (1)
Fidelity® VIP Growth & Income Initial Class (1)
TA Aegon High Yield Bond Service Class (1)
Fidelity® VIP Growth & Income Service Class 2 (1)
TA Aegon Sustainable Equity Income Initial Class (1)
Fidelity® VIP Growth Opportunities Initial Class (1)
TA Aegon Sustainable Equity Income Service Class (1)
Fidelity® VIP Growth Opportunities Service Class (1)
TA Aegon U.S. Government Securities Initial Class (1)
Fidelity® VIP Growth Opportunities Service Class 2 (1)
TA Aegon U.S. Government Securities Service Class (1)
Fidelity® VIP High Income Initial Class (1)
TA BlackRock Government Money Market Initial Class (1)
Fidelity® VIP High Income Service Class (1)
TA BlackRock Government Money Market Service Class (1)
Fidelity® VIP High Income Service Class 2 (1)
TA BlackRock iShares Edge 40 Initial Class (1)
Fidelity® VIP Index 500 Initial Class (1)
TA BlackRock iShares Edge 40 Service Class (1)
Fidelity® VIP Index 500 Service Class 2 (1)
TA BlackRock Real Estate Securities Initial Class (1)
Fidelity® VIP Investment Grade Bond Initial Class (1)
TA BlackRock Real Estate Securities Service Class (1)
Fidelity® VIP Investment Grade Bond Service Class 2 (1)
TA International Focus Initial Class (1)
Fidelity® VIP Mid Cap Initial Class (1)
TA International Focus Service Class (1)
Fidelity® VIP Mid Cap Service Class 2 (1)
TA Janus Mid-Cap Growth Initial Class (1)
Fidelity® VIP Overseas Initial Class (1)
TA Janus Mid-Cap Growth Service Class (1)
Fidelity® VIP Value Strategies Service Class 2 (1)
TA JPMorgan Asset Allocation - Conservative Initial Class (1)
Franklin Income Class 2 Shares (1)
TA JPMorgan Asset Allocation - Conservative Service Class (1)
Franklin Mutual Shares Class 2 Shares (1)
TA JPMorgan Asset Allocation - Moderate Initial Class (1)
Franklin Rising Dividends Class 2 Shares (1)
TA JPMorgan Asset Allocation - Moderate Service Class (1)
Franklin Small Cap Value Class 2 Shares (1)
TA JPMorgan Asset Allocation - Moderate Growth Initial Class (1)
Franklin Small-Mid Cap Growth Class 2 Shares (1)
TA JPMorgan Asset Allocation - Moderate Growth Service Class (1)
Franklin Templeton Developing Markets Class 2 Shares (1)
TA JPMorgan Diversified Equity Allocation Initial Class (1)
Franklin Templeton Foreign Class 2 Shares (1)
TA JPMorgan Diversified Equity Allocation Service Class (1)
Invesco V.I. American Franchise Series I Shares (1)
TA JPMorgan Enhanced Index Initial Class (1)
Invesco V.I. American Franchise Series II Shares (1)
TA JPMorgan Enhanced Index Service Class (1)
Invesco V.I. American Value Series II Shares (1)
TA JPMorgan International Moderate Growth Initial Class (1)
Invesco V.I. Comstock Series II Shares (1)
TA JPMorgan International Moderate Growth Service Class (1)
Invesco V.I. Discovery Large Cap Series I Shares(1)
TA JPMorgan Tactical Allocation Initial Class (1)
 Invesco V.I. Discovery Large Cap Series II Shares (1)
TA JPMorgan Tactical Allocation Service Class (1)
Invesco V.I. Core Equity Series II Shares (1)
TA Multi-Managed Balanced Initial Class (1)
Invesco V.I. Discovery Mid Cap Growth Series II Shares (1)
TA Multi-Managed Balanced Service Class (1)
Invesco V.I. Equity and Income Series I Shares (2)
TA Small/Mid Cap Value Initial Class (1)
Invesco V.I. Equity and Income Series II Shares (1)
TA T. Rowe Price Small Cap Initial Class (1)
Invesco V.I. EQV International Equity Series I Shares (1)
TA T. Rowe Price Small Cap Service Class (1)
Invesco V.I. EQV International Equity Series II Shares (1)
TA TSW International Equity Initial Class (1)
Invesco V.I. Global Series I Shares (1)
TA TSW International Equity Service Class (1)
Invesco V.I. Global Series II Shares (1)
TA TSW Mid Cap Value Opportunities Initial Class (1)
Invesco V.I. Global Strategic Income Series I Shares (1)
TA WMC US Growth Initial Class (1)
Invesco V.I. Global Strategic Income Series II Shares (1)
TA WMC US Growth Service Class (1)
(1) Statements of operations and changes in net assets for the years ended December 31, 2025 and 2024
(2) Statements of operations and changes in net assets for the period April 26, 2024 (commencement of operations) through December 31, 2025
 
Basis for Opinion
These financial statements are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on each of the subaccounts’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Separate Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 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/ Ernst & Young LLP
 
We have served as the auditor of the Separate Account since 2024.
 
Chicago, IL
April 24, 2026
 
4
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Assets and Liabilities
December 31, 2025
                             
Subaccount Number of Shares Cost Assets at Market Value Due (to)/from General Account Net Assets Units Outstanding Range of Unit Values
AB Large Cap Growth Class B Shares 35,544.313 $ 2,199,241 $ 2,896,151 $ (83) $ 2,896,068 605,219 $ 4.221566 $ 37.573255
AB Relative Value Class B Shares 66,143.389   1,892,319   2,040,524   (35)   2,040,489 543,690   3.470375   21.235323
AB Sustainable Global Thematic Growth Class B Shares 24,558.935   712,818   743,153   (11)   743,142 424,596   1.123656   20.534729
Allspring VT Discovery All Cap Growth Class 1 Shares 58,996.758   1,545,015   1,355,745   2   1,355,747 180,335   4.002401   8.170049
Allspring VT Discovery All Cap Growth Class 2 Shares 9,213.567   228,224   192,195   13   192,208 20,888   8.144085   28.053349
Allspring VT Opportunity Class 1 Shares 62,371.588   1,552,563   1,601,079   10   1,601,089 367,406   3.788779   4.518313
Allspring VT Opportunity Class 2 Shares 2,493.718   62,068   64,089   3   64,092 15,232   3.919538   21.454865
Allspring VT Small Cap Growth Class 1 Shares 77,077.208   787,207   797,749   15   797,764 206,508   2.643531   4.187661
Allspring VT Small Cap Growth Class 2 Shares 9,590.238   95,625   92,066   (3)   92,063 23,899   3.448013   18.901613
BNY Mellon Small Cap Initial Shares 25,569.854   1,163,748   1,227,353   (16)   1,227,337 390,568   3.137461   14.073779
BNY Mellon Stock Index Initial Shares 20,287.296   1,219,918   1,768,038   (40)   1,767,998 246,280   5.991247   7.357185
BNY Mellon Stock Index Service Shares 333.497   21,347   29,154   -   29,154 6,023   4.840787   6.515927
BNY Mellon Sustainable U.S. Equity Initial Shares 4,169.076   165,728   243,891   36   243,927 73,506   3.318447   25.218206
BNY Mellon VIF Appreciation Initial Shares 55,500.611   1,933,767   1,868,706   (10)   1,868,696 293,330   5.821616   24.468082
BNY Mellon VIF Government Money Market 677,351.260   677,351   677,351   (77)   677,274 594,646   0.760047   1.184986
BNY Mellon VIF Growth and Income Initial Shares 27,650.935   940,860   1,099,954   (36)   1,099,918 168,758   6.517556   27.818027
Columbia - Acorn 58,006.933   820,007   922,310   (70)   922,240 207,831   3.634140   15.957880
Columbia - Dividend Opportunity Class 1 Shares 16,132.247   304,709   846,298   (12)   846,286 266,143   2.726064   18.926358
Columbia - Income Opportunity Class 1 Shares 152,687.891   1,057,844   1,033,697   27   1,033,724 696,360   1.295741   1.552287
Columbia - Large Cap Growth Class 1 Shares 82,803.139   1,187,344   4,708,186   72   4,708,258 1,189,284   3.582152   4.111564
Columbia - Overseas Core Class 2 Shares 88,466.961   1,137,772   1,565,865   (15)   1,565,850 848,064   1.674310   1.921831
Columbia - Select Mid Cap Growth Class 1 Shares 20,344.651   354,987   1,315,282   (13)   1,315,269 363,728   3.165925   3.792980
Columbia - Select Mid Cap Value Class 1 Shares 2,907.977   52,695   137,664   3   137,667 38,822   2.945043   18.762180
Columbia - Small Cap Value Class 1 Shares 64,098.114   800,782   810,841   (29)   810,812 145,202   2.149686   17.616023
Columbia - Small Company Growth Class 1 Shares 1,808.929   25,043   27,098   5   27,103 4,186   4.228163   28.935123
Columbia - Strategic Income Class 1 Shares 132,901.810   520,683   503,698   (2)   503,696 224,373   1.870701   11.127924
CTIVP® - Principal Large Cap Growth Class 1 Shares 47,336.324   1,122,310   3,858,857   37   3,858,894 1,118,568   3.093802   3.551075
Davis Equity 495,207.700   3,220,475   3,104,952   (49)   3,104,903 652,391   4.076526   6.583683
Federated Hermes Government Money II Service Shares 2,122,006.788   2,122,006   2,122,007   (148)   2,121,859 2,090,941   0.881706   9.512161
Federated Hermes High Income Bond II Primary Shares 237,639.844   1,376,349   1,373,558   26   1,373,584 442,115   1.505886   11.897186
Federated Hermes Kaufmann II Primary Shares 76,108.207   1,399,434   1,484,110   18   1,484,128 242,580   3.574093   19.576584
Federated Hermes Kaufmann II Service Shares 52,262.771   858,388   906,236   (2)   906,234 190,334   4.034887   18.935238
Federated Hermes Managed Volatility II Primary Shares 62,809.910   606,376   653,223   (7)   653,216 254,795   2.155102   14.323725
Federated Hermes Managed Volatility II Service Shares 24,877.346   247,926   264,446   (2)   264,444 191,405   1.305775   13.788622
Federated Hermes Quality Bond II Primary Shares 8,920.855   95,564   94,383   9   94,392 53,100   1.493775   10.333751
Fidelity® VIP Asset Manager 50% Initial Class 44,889.522   685,149   790,953   28   790,981 201,554   1.499615   15.465292
Fidelity® VIP Asset Manager 70% Initial Class 10,309.555   204,981   266,708   (14)   266,694 59,461   1.554380   4.573938
Fidelity® VIP Balanced Initial Class 89,257.053   1,856,641   2,366,204   (23)   2,366,181 388,175   2.410572   6.255003
Fidelity® VIP Balanced Service Class 2 17,606.127   366,036   448,076   (4)   448,072 85,267   3.623342   20.821910
Fidelity® VIP Contrafund® Initial Class 187,585.806   8,126,345   11,234,514   (26)   11,234,488 732,633   4.772072   15.884560
Fidelity® VIP Contrafund® Service Class 2 170,896.674   7,900,862   9,717,185   69   9,717,254 1,398,097   4.789548   34.594747
Fidelity® VIP Equity-Income Initial Class 132,454.562   3,092,883   3,898,138   7   3,898,145 579,537   2.468463   20.102000
 
See accompanying notes
 
5
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Assets and Liabilities
December 31, 2025
                             
Subaccount Number of Shares Cost Assets at Market Value Due (to)/from General Account Net Assets Units Outstanding Range of Unit Values
Fidelity® VIP Equity-Income Service Class 2 209,625.470 $ 4,760,590 $ 5,896,764 $ 69 $ 5,896,833 1,376,531 $ 3.079867 $ 21.952402
Fidelity® VIP Government Money Market Initial Class 513,904.040   513,904   513,904   (33)   513,871 384,434   0.626800   9.761528
Fidelity® VIP Government Money Market Service Class 2 168,917.320   168,917   168,917   (15)   168,902 155,374   0.875565   1.117332
Fidelity® VIP Growth Initial Class 82,583.814   7,294,657   8,070,090   (42)   8,070,048 639,457   3.440716   13.228241
Fidelity® VIP Growth Service Class 2 28,163.176   2,377,260   2,615,796   (11)   2,615,785 428,195   4.995372   42.750063
Fidelity® VIP Growth & Income Initial Class 97,583.753   2,310,735   3,254,418   7   3,254,425 396,624   2.738382   8.774723
Fidelity® VIP Growth & Income Service Class 2 13,379.253   311,515   428,002   29   428,031 87,597   4.396314   24.363298
Fidelity® VIP Growth Opportunities Initial Class 41,303.795   2,006,099   4,117,575   25   4,117,600 344,799   4.193821   12.310577
Fidelity® VIP Growth Opportunities Service Class 22,781.242   1,251,449   2,257,621   49   2,257,670 196,505   9.933574   12.889831
Fidelity® VIP Growth Opportunities Service Class 2 11,643.192   490,793   1,122,404   51   1,122,455 125,465   6.603511   47.585523
Fidelity® VIP High Income Initial Class 138,187.294   703,597   674,354   (7)   674,347 268,069   1.164781   12.077842
Fidelity® VIP High Income Service Class 99,408.953   499,539   481,139   4   481,143 177,877   1.262694   2.977642
Fidelity® VIP High Income Service Class 2 43,286.285   211,111   199,550   20   199,570 86,675   2.072415   11.837339
Fidelity® VIP Index 500 Initial Class 29,319.847   8,246,642   19,354,911   243   19,355,154 2,025,999   2.963130   27.887023
Fidelity® VIP Index 500 Service Class 2 2,202.443   790,455   1,432,050   (49)   1,432,001 173,828   5.712384   27.265664
Fidelity® VIP Investment Grade Bond Initial Class 226,943.947   2,887,112   2,578,083   4   2,578,087 1,225,434   1.037529   10.042440
Fidelity® VIP Investment Grade Bond Service Class 2 36,408.703   449,459   399,403   8   399,411 214,572   1.166967   9.819614
Fidelity® VIP Mid Cap Initial Class 100,458.018   3,616,043   3,768,180   (3)   3,768,177 295,963   3.472110   14.005487
Fidelity® VIP Mid Cap Service Class 2 165,482.177   5,762,750   5,820,008   (30)   5,819,978 841,598   2.757349   21.043631
Fidelity® VIP Overseas Initial Class 29,343.921   649,024   807,545   (7)   807,538 224,605   1.299582   18.195964
Fidelity® VIP Value Strategies Service Class 2 141,854.243   2,105,377   2,293,783   (46)   2,293,737 459,375   3.205979   22.035728
Franklin Income Class 2 Shares 8,758.611   128,969   132,781   (8)   132,773 59,199   2.118405   15.849825
Franklin Mutual Shares Class 2 Shares 182,358.093   2,945,975   2,935,965   (93)   2,935,872 856,157   2.038879   15.795100
Franklin Rising Dividends Class 2 Shares 50,788.811   1,320,555   1,424,118   (8)   1,424,110 241,084   2.469334   6.612239
Franklin Small Cap Value Class 2 Shares 68,997.810   947,979   957,000   16   957,016 155,028   2.870462   15.488004
Franklin Small-Mid Cap Growth Class 2 Shares 232,083.144   3,291,487   3,321,110   21   3,321,131 723,807   2.541500   19.468293
Franklin Templeton Developing Markets Class 2 Shares 53,277.948   452,479   643,598   (19)   643,579 163,203   1.319649   5.420671
Franklin Templeton Foreign Class 2 Shares 95,548.900   1,314,018   1,549,803   16   1,549,819 700,668   1.404534   14.582863
Invesco V.I. American Franchise Series I Shares 21,917.463   1,281,845   1,775,315   2   1,775,317 344,193   4.745367   30.829798
Invesco V.I. American Franchise Series II Shares 5,054.985   263,459   363,706   (61)   363,645 72,476   4.107671   33.676098
Invesco V.I. American Value Series II Shares 24,650.210   383,439   437,788   2   437,790 25,256   16.249338   17.893515
Invesco V.I. Comstock Series II Shares 50,924.000   905,640   1,084,172   12   1,084,184 223,466   4.050808   20.194519
Invesco V.I. Core Equity Series II Shares 33,405.697   996,114   1,194,588   (36)   1,194,552 297,736   2.201472   21.346866
Invesco V.I. Discovery Large Cap Series I Shares 119,300.405   5,543,457   7,545,751   (137)   7,545,614 1,009,822   5.020854   30.606005
Invesco V.I. Discovery Large Cap Series II Shares 10,031.475   472,192   594,365   (16)   594,349 100,067   4.210514   29.927054
Invesco V.I. Discovery Mid Cap Growth Series II Shares 1,295.471   73,471   82,146   (3)   82,143 4,933   15.554995   16.864885
Invesco V.I. Equity and Income Series I Shares 45,976.480   798,279   839,990   (3)   839,987 711,678   1.159744   1.183976
Invesco V.I. Equity and Income Series II Shares 128,739.490   2,162,354   2,332,760   36   2,332,796 621,600   2.345557   15.774139
Invesco V.I. EQV International Equity Series I Shares 10,826.525   376,376   390,946   (6)   390,940 128,942   1.576580   3.369579
Invesco V.I. EQV International Equity Series II Shares 1,618.595   56,197   57,282   2   57,284 13,593   3.508413   14.422634
Invesco V.I. Global Series I Shares 44,716.078   1,681,171   1,696,975   43   1,697,018 214,375   2.634477   9.896794
Invesco V.I. Global Series II Shares 1,236.466   43,438   44,884   (14)   44,870 8,416   4.504486   21.780487
 
See accompanying notes
 
6
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Assets and Liabilities
December 31, 2025
                             
Subaccount Number of Shares Cost Assets at Market Value Due (to)/from General Account Net Assets Units Outstanding Range of Unit Values
Invesco V.I. Global Strategic Income Series I Shares 212,306.077 $ 1,018,431 $ 970,239 $ (2) $ 970,237 426,494 $ 1.048757 $ 10.149555
Invesco V.I. Global Strategic Income Series II Shares 68,236.846   340,851   322,078   -   322,078 183,011   0.987737   9.926559
Invesco V.I. Government Securities Series I Shares 18,677.976   215,906   198,920   12   198,932 123,476   0.990192   1.635494
Invesco V.I. Government Securities Series II Shares 20,331.968   229,980   214,299   (5)   214,294 173,272   0.888014   1.371774
Invesco V.I. Main Street Series I Shares 164,838.819   3,226,918   3,651,180   (14)   3,651,166 623,352   3.326438   6.388426
Invesco V.I. Main Street Series II Shares 29,844.367   600,565   640,162   5   640,167 107,292   4.159411   22.588634
Invesco V.I. Main Street Mid Cap Series II Shares 23,633.465   242,742   248,151   (11)   248,140 61,105   3.122504   16.774089
Invesco V.I. Main Street Small Cap Series II Shares 1,703.838   43,232   47,213   -   47,213 6,542   4.980982   17.781901
Janus Henderson - Balanced Service Shares 49,637.732   1,846,555   2,952,452   (14)   2,952,438 687,313   4.295589   19.227822
Janus Henderson - Enterprise Service Shares 16,814.364   1,092,066   1,233,334   (1)   1,233,333 388,288   2.889820   25.516739
Janus Henderson - Forty Service Shares 4,874.706   192,732   252,851   11   252,862 41,814   6.047307   34.047302
Janus Henderson - Global Research Service Shares 21,114.497   966,642   1,613,570   28   1,613,598 649,729   2.255420   28.605655
Janus Henderson - Mid Cap Value Service Shares 7,380.109   114,562   123,838   (9)   123,829 36,132   2.299555   14.371635
Janus Henderson - Overseas Service Shares 18,877.130   554,519   1,000,865   16   1,000,881 445,703   2.214989   20.202139
Janus Henderson - Research Service Shares 15,801.173   590,552   967,664   (39)   967,625 247,700   3.906234   33.502341
LVIP JPMorgan Core Bond Standard Shares 167,450.790   1,641,248   1,667,140   5   1,667,145 1,006,230   1.310141   2.132381
LVIP JPMorgan Mid Cap Value Standard Shares 87,276.151   825,880   786,533   -   786,533 141,551   3.858375   7.589274
LVIP JPMorgan U.S. Equity Standard Shares 27,223.358   966,067   1,343,963   (3)   1,343,960 262,038   4.591415   6.355091
MFS® Core Equity Initial Class 1,128.301   29,210   35,914   (2)   35,912 11,629   3.058536   25.936870
MFS® Growth Initial Class 66,708.227   4,142,568   4,526,153   (75)   4,526,078 487,134   7.849388   32.766516
MFS® Growth Service Class 23,078.399   1,214,825   1,400,397   68   1,400,465 138,694   6.283200   32.027851
MFS® Massachusetts Investors Growth Stock Initial Class 2,775.480   58,470   62,587   (3)   62,584 19,230   3.230722   28.353827
MFS® Massachusetts Investors Growth Stock Service Class 54,261.839   1,179,146   1,186,706   11   1,186,717 361,346   2.950884   27.528786
MFS® New Discovery Initial Class 19,825.421   315,460   309,277   (15)   309,262 83,558   3.625074   20.109999
MFS® New Discovery Service Class 27,488.715   392,413   332,613   5   332,618 59,406   2.811004   21.954799
MFS® Research Initial Class 52,792.457   1,560,675   1,609,642   (38)   1,609,604 257,547   4.628588   24.537851
MFS® Research Service Class 36,589.633   1,067,818   1,091,835   (75)   1,091,760 165,661   4.510242   23.984645
MFS® Total Return Initial Class 207,884.860   4,858,064   4,849,954   21   4,849,975 1,323,785   2.159850   4.173271
MFS® Total Return Service Class 78,845.486   1,801,656   1,785,062   1   1,785,063 614,462   2.427930   16.660402
MFS® Total Return Bond Initial Class 9,816.164   127,945   115,634   (8)   115,626 54,928   2.083593   10.017194
MFS® Total Return Bond Service Class 66,961.261   831,540   772,733   (2)   772,731 484,624   1.341592   9.729245
MFS® Utilities Initial Class 109,649.237   3,480,996   4,137,066   7   4,137,073 593,347   3.353569   17.853323
MFS® Utilities Service Class 21,614.559   676,788   795,848   (12)   795,836 107,335   4.412020   17.462374
Putnam VT Core Equity Class IB Shares 16.439   279   388   16   404 83   4.684143   28.936491
Putnam VT Diversified Income Class IB Shares 43,100.655   230,362   203,004   1   203,005 104,550   0.982195   10.208805
Putnam VT Focused International Equity Class IB Shares 54,550.712   785,437   1,040,828   93   1,040,921 331,431   2.820332   4.731079
Putnam VT George Putnam Balanced Class IB Shares 50,187.858   528,644   852,692   (14)   852,678 245,515   2.132425   19.302375
Putnam VT Global Health Care Class IB Shares 8,896.863   138,434   149,556   1   149,557 38,340   2.106931   20.230573
Putnam VT Government Money Market Class IB Shares 2,693,588.271   2,693,588   2,693,588   (184)   2,693,404 2,587,473   0.794002   1.155372
Putnam VT Income Class IB Shares 18,224.632   194,172   149,260   4   149,264 78,755   1.830005   9.463694
Putnam VT International Equity Class IB Shares 2,603.865   35,380   51,583   (19)   51,564 21,362   2.382579   17.983509
Putnam VT Large Cap Growth Class IB Shares 47,997.572   541,367   843,797   52   843,849 196,042   3.383619   10.226983
 
See accompanying notes
 
7
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Assets and Liabilities
December 31, 2025
                             
Subaccount Number of Shares Cost Assets at Market Value Due (to)/from General Account Net Assets Units Outstanding Range of Unit Values
Putnam VT Large Cap Value Class IB Shares 98,469.207 $ 2,483,419 $ 3,514,366 $ (43) $ 3,514,323 485,435 $ 3.891099 $ 26.991043
Putnam VT Research Class IB Shares 5,497.273   130,807   260,351   (23)   260,328 42,027   5.513811   29.288430
Putnam VT Sustainable Leaders Class IB Shares 40.719   1,220   1,885   (25)   1,860 218   8.548892   28.862624
TA Aegon Bond Initial Class 632,513.913   6,749,400   6,008,882   10   6,008,892 3,829,101   0.906732   9.657199
TA Aegon Bond Service Class 275,397.657   2,937,528   2,588,738   38   2,588,776 1,630,519   0.985001   10.548343
TA Aegon Core Bond Initial Class 126,476.027   1,529,750   1,386,177   (1)   1,386,176 867,353   0.909238   1.801098
TA Aegon High Yield Bond Initial Class 312,319.368   2,206,853   2,201,852   8   2,201,860 800,190   1.342488   12.387886
TA Aegon High Yield Bond Service Class 40,230.069   301,034   290,863   12   290,875 110,430   2.295822   13.528256
TA Aegon Sustainable Equity Income Initial Class 467,775.374   8,900,830   10,599,790   134   10,599,924 3,528,794   2.090292   14.027289
TA Aegon Sustainable Equity Income Service Class 76,976.827   1,451,230   1,748,914   24   1,748,938 549,699   2.256920   15.312978
TA Aegon U.S. Government Securities Initial Class 242,774.759   2,237,444   2,177,690   (19)   2,177,671 1,679,036   1.064372   9.023517
TA Aegon U.S. Government Securities Service Class 131,965.018   1,356,527   1,236,512   (30)   1,236,482 941,169   1.077564   9.862910
TA BlackRock Government Money Market Initial Class 6,097,663.417   6,097,663   6,097,663   (722)   6,096,941 6,832,814   0.748424   9.743664
TA BlackRock Government Money Market Service Class 3,089,127.951   3,089,128   3,089,128   (244)   3,088,884 2,922,962   0.889359   10.611715
TA BlackRock iShares Edge 40 Initial Class 89,120.856   813,702   821,694   9   821,703 379,347   1.325217   12.570727
TA BlackRock iShares Edge 40 Service Class 28,118.542   258,009   257,285   5   257,290 131,671   1.560569   13.834133
TA BlackRock Real Estate Securities Initial Class 26,013.971   273,462   269,765   (2)   269,763 87,234   1.478159   11.553443
TA BlackRock Real Estate Securities Service Class 17,919.043   193,438   200,514   -   200,514 77,275   1.508394   12.650576
TA International Focus Initial Class 91,780.403   777,646   701,202   35   701,237 386,964   1.243688   10.541698
TA International Focus Service Class 100,224.268   809,707   743,664   -   743,664 280,678   1.699304   14.906155
TA Janus Mid-Cap Growth Initial Class 260,919.870   8,518,514   8,237,240   (63)   8,237,177 1,537,244   2.759642   23.148487
TA Janus Mid-Cap Growth Service Class 13,115.775   389,472   367,766   (24)   367,742 75,445   4.025883   25.289236
TA JPMorgan Asset Allocation - Conservative Initial Class 953,697.851   9,291,560   9,050,593   (17)   9,050,576 4,279,728   1.342124   12.363037
TA JPMorgan Asset Allocation - Conservative Service Class 1,237,901.836   11,953,438   11,574,382   71   11,574,453 5,540,551   1.276903   13.505293
TA JPMorgan Asset Allocation - Moderate Initial Class 1,394,242.566   15,828,213   16,452,062   (92)   16,451,970 6,436,376   1.469394   13.980920
TA JPMorgan Asset Allocation - Moderate Service Class 2,788,052.615   30,462,968   32,229,888   595   32,230,483 12,530,618   1.961341   13.660291
TA JPMorgan Asset Allocation - Moderate Growth Initial Class 2,154,179.209   24,425,502   26,237,903   12   26,237,915 8,468,440   1.743157   16.273696
TA JPMorgan Asset Allocation - Moderate Growth Service Class 6,302,766.074   68,805,570   75,002,916   72   75,002,988 25,076,627   2.283825   17.768302
TA JPMorgan Diversified Equity Allocation Initial Class 596,388.863   6,506,457   7,979,683   (4)   7,979,679 1,937,771   2.418613   21.680662
TA JPMorgan Diversified Equity Allocation Service Class 618,332.252   6,836,979   8,118,702   (17)   8,118,685 1,948,177   2.775963   21.182425
TA JPMorgan Enhanced Index Initial Class 379,761.367   9,754,142   11,100,425   (76)   11,100,349 2,429,848   2.820956   22.889769
TA JPMorgan Enhanced Index Service Class 26,164.395   574,814   757,983   (10)   757,973 110,116   5.475393   30.310650
TA JPMorgan International Moderate Growth Initial Class 25,050.579   249,033   261,027   10   261,037 164,900   1.419792   13.879440
TA JPMorgan International Moderate Growth Service Class 483,806.491   4,523,371   4,983,207   29   4,983,236 3,078,506   1.351589   15.165349
TA JPMorgan Tactical Allocation Initial Class 34,324.155   470,945   451,363   (19)   451,344 228,968   1.207597   11.803571
TA JPMorgan Tactical Allocation Service Class 26,402.669   377,668   374,126   (9)   374,117 214,884   1.276356   11.479212
TA Multi-Managed Balanced Initial Class 146,147.799   2,341,885   2,352,980   (6)   2,352,974 535,757   2.612392   18.612487
TA Multi-Managed Balanced Service Class 1,049,307.911   15,658,313   16,253,780   (14)   16,253,766 4,108,284   3.557272   20.408322
TA Small/Mid Cap Value Initial Class 172,978.049   3,291,044   3,341,936   (9)   3,341,927 312,194   2.454386   22.756575
TA T. Rowe Price Small Cap Initial Class 152,210.657   1,793,550   1,768,688   -   1,768,688 355,535   3.149864   15.737291
TA T. Rowe Price Small Cap Service Class 78,267.568   810,511   750,586   20   750,606 130,618   4.564788   20.981757
TA TSW International Equity Initial Class 40,130.349   547,775   715,123   41   715,164 384,335   1.787205   13.400843
 
See accompanying notes
 
8
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Assets and Liabilities
December 31, 2025
                             
Subaccount Number of Shares Cost Assets at Market Value Due (to)/from General Account Net Assets Units Outstanding Range of Unit Values
TA TSW International Equity Service Class 24,826.977 $ 331,892 $ 436,955 $ (20) $ 436,935 158,325 $ 1.865964 $ 17.919804
TA TSW Mid Cap Value Opportunities Initial Class 118,167.677   1,610,897   1,249,032   10   1,249,042 275,189   2.690459   15.781863
TA WMC US Growth Initial Class 1,153,493.124   40,066,149   48,285,222   78   48,285,300 10,126,764   3.872713   35.033545
TA WMC US Growth Service Class 151,937.569   5,018,976   5,899,736   (11)   5,899,725 744,198   5.607995   38.264481
 
See accompanying notes
 
9
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Assets and Liabilities
December 31, 2025
                 
Subaccount Net Assets Representing: Accumulation Units   Net Assets Representing: Contracts in Payout (Annuitization) Period   Total Net Assets
AB Large Cap Growth Class B Shares $ 2,896,068   $ -   $ 2,896,068
AB Relative Value Class B Shares   1,875,573     164,916     2,040,489
AB Sustainable Global Thematic Growth Class B Shares   678,933     64,209     743,142
Allspring VT Discovery All Cap Growth Class 1 Shares   1,330,310     25,437     1,355,747
Allspring VT Discovery All Cap Growth Class 2 Shares   184,442     7,766     192,208
Allspring VT Opportunity Class 1 Shares   1,472,329     128,760     1,601,089
Allspring VT Opportunity Class 2 Shares   64,092     -     64,092
Allspring VT Small Cap Growth Class 1 Shares   717,156     80,608     797,764
Allspring VT Small Cap Growth Class 2 Shares   92,063     -     92,063
BNY Mellon Small Cap Initial Shares   1,227,337     -     1,227,337
BNY Mellon Stock Index Initial Shares   1,761,095     6,903     1,767,998
BNY Mellon Stock Index Service Shares   -     29,154     29,154
BNY Mellon Sustainable U.S. Equity Initial Shares   243,927     -     243,927
BNY Mellon VIF Appreciation Initial Shares   1,868,696     -     1,868,696
BNY Mellon VIF Government Money Market   665,031     12,243     677,274
BNY Mellon VIF Growth and Income Initial Shares   1,094,305     5,613     1,099,918
Columbia - Acorn   922,240     -     922,240
Columbia - Dividend Opportunity Class 1 Shares   798,043     48,243     846,286
Columbia - Income Opportunity Class 1 Shares   992,832     40,892     1,033,724
Columbia - Large Cap Growth Class 1 Shares   4,450,439     257,819     4,708,258
Columbia - Overseas Core Class 2 Shares   1,376,382     189,468     1,565,850
Columbia - Select Mid Cap Growth Class 1 Shares   1,240,087     75,182     1,315,269
Columbia - Select Mid Cap Value Class 1 Shares   121,425     16,242     137,667
Columbia - Small Cap Value Class 1 Shares   799,584     11,228     810,812
Columbia - Small Company Growth Class 1 Shares   19,004     8,099     27,103
Columbia - Strategic Income Class 1 Shares   495,516     8,180     503,696
CTIVP® - Principal Large Cap Growth Class 1 Shares   3,695,345     163,549     3,858,894
Davis Equity   3,004,841     100,062     3,104,903
Federated Hermes Government Money II Service Shares   2,097,558     24,301     2,121,859
Federated Hermes High Income Bond II Primary Shares   1,359,152     14,432     1,373,584
Federated Hermes Kaufmann II Primary Shares   1,355,043     129,085     1,484,128
Federated Hermes Kaufmann II Service Shares   906,234     -     906,234
Federated Hermes Managed Volatility II Primary Shares   649,994     3,222     653,216
Federated Hermes Managed Volatility II Service Shares   264,444     -     264,444
Federated Hermes Quality Bond II Primary Shares   94,392     -     94,392
Fidelity® VIP Asset Manager 50% Initial Class   777,605     13,376     790,981
Fidelity® VIP Asset Manager 70% Initial Class   266,694     -     266,694
Fidelity® VIP Balanced Initial Class   2,346,144     20,037     2,366,181
Fidelity® VIP Balanced Service Class 2   340,038     108,034     448,072
Fidelity® VIP Contrafund® Initial Class   11,163,855     70,633     11,234,488
Fidelity® VIP Contrafund® Service Class 2   9,538,383     178,871     9,717,254
 
See accompanying notes
 
10
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Assets and Liabilities
December 31, 2025
                 
Subaccount Net Assets Representing: Accumulation Units   Net Assets Representing: Contracts in Payout (Annuitization) Period   Total Net Assets
Fidelity® VIP Equity-Income Initial Class $ 3,812,655   $ 85,490   $ 3,898,145
Fidelity® VIP Equity-Income Service Class 2   5,833,510     63,323     5,896,833
Fidelity® VIP Government Money Market Initial Class   308,647     205,224     513,871
Fidelity® VIP Government Money Market Service Class 2   109,359     59,543     168,902
Fidelity® VIP Growth Initial Class   7,824,033     246,015     8,070,048
Fidelity® VIP Growth Service Class 2   2,558,729     57,056     2,615,785
Fidelity® VIP Growth & Income Initial Class   3,064,970     189,455     3,254,425
Fidelity® VIP Growth & Income Service Class 2   428,031     -     428,031
Fidelity® VIP Growth Opportunities Initial Class   4,117,600     -     4,117,600
Fidelity® VIP Growth Opportunities Service Class   2,166,072     91,598     2,257,670
Fidelity® VIP Growth Opportunities Service Class 2   1,122,455     -     1,122,455
Fidelity® VIP High Income Initial Class   657,616     16,731     674,347
Fidelity® VIP High Income Service Class   481,046     97     481,143
Fidelity® VIP High Income Service Class 2   193,790     5,780     199,570
Fidelity® VIP Index 500 Initial Class   18,323,538     1,031,616     19,355,154
Fidelity® VIP Index 500 Service Class 2   1,307,597     124,404     1,432,001
Fidelity® VIP Investment Grade Bond Initial Class   2,477,220     100,867     2,578,087
Fidelity® VIP Investment Grade Bond Service Class 2   394,081     5,330     399,411
Fidelity® VIP Mid Cap Initial Class   3,466,986     301,191     3,768,177
Fidelity® VIP Mid Cap Service Class 2   5,433,747     386,231     5,819,978
Fidelity® VIP Overseas Initial Class   787,293     20,245     807,538
Fidelity® VIP Value Strategies Service Class 2   2,176,824     116,913     2,293,737
Franklin Income Class 2 Shares   132,773     -     132,773
Franklin Mutual Shares Class 2 Shares   2,901,107     34,765     2,935,872
Franklin Rising Dividends Class 2 Shares   1,384,291     39,819     1,424,110
Franklin Small Cap Value Class 2 Shares   946,120     10,896     957,016
Franklin Small-Mid Cap Growth Class 2 Shares   3,184,960     136,171     3,321,131
Franklin Templeton Developing Markets Class 2 Shares   618,057     25,522     643,579
Franklin Templeton Foreign Class 2 Shares   1,525,342     24,477     1,549,819
Invesco V.I. American Franchise Series I Shares   1,775,317     -     1,775,317
Invesco V.I. American Franchise Series II Shares   363,645     -     363,645
Invesco V.I. American Value Series II Shares   437,790     -     437,790
Invesco V.I. Comstock Series II Shares   1,084,184     -     1,084,184
Invesco V.I. Core Equity Series II Shares   1,166,850     27,702     1,194,552
Invesco V.I. Discovery Large Cap Series I Shares   7,302,881     242,733     7,545,614
Invesco V.I. Discovery Large Cap Series II Shares   543,255     51,094     594,349
Invesco V.I. Discovery Mid Cap Growth Series II Shares   82,143     -     82,143
Invesco V.I. Equity and Income Series I Shares   765,194     74,793     839,987
Invesco V.I. Equity and Income Series II Shares   2,296,782     36,014     2,332,796
Invesco V.I. EQV International Equity Series I Shares   361,433     29,507     390,940
Invesco V.I. EQV International Equity Series II Shares   57,284     -     57,284
 
See accompanying notes
 
11
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Assets and Liabilities
December 31, 2025
                 
Subaccount Net Assets Representing: Accumulation Units   Net Assets Representing: Contracts in Payout (Annuitization) Period   Total Net Assets
Invesco V.I. Global Series I Shares $ 1,417,875   $ 279,143   $ 1,697,018
Invesco V.I. Global Series II Shares   40,148     4,722     44,870
Invesco V.I. Global Strategic Income Series I Shares   961,723     8,514     970,237
Invesco V.I. Global Strategic Income Series II Shares   282,601     39,477     322,078
Invesco V.I. Government Securities Series I Shares   198,315     617     198,932
Invesco V.I. Government Securities Series II Shares   194,205     20,089     214,294
Invesco V.I. Main Street Series I Shares   3,429,002     222,164     3,651,166
Invesco V.I. Main Street Series II Shares   524,350     115,817     640,167
Invesco V.I. Main Street Mid Cap Series II Shares   248,140     -     248,140
Invesco V.I. Main Street Small Cap Series II Shares   37,870     9,343     47,213
Janus Henderson - Balanced Service Shares   2,944,474     7,964     2,952,438
Janus Henderson - Enterprise Service Shares   1,233,333     -     1,233,333
Janus Henderson - Forty Service Shares   252,862     -     252,862
Janus Henderson - Global Research Service Shares   1,613,598     -     1,613,598
Janus Henderson - Mid Cap Value Service Shares   119,210     4,619     123,829
Janus Henderson - Overseas Service Shares   1,000,236     645     1,000,881
Janus Henderson - Research Service Shares   967,625     -     967,625
LVIP JPMorgan Core Bond Standard Shares   -     1,667,145     1,667,145
LVIP JPMorgan Mid Cap Value Standard Shares   -     786,533     786,533
LVIP JPMorgan U.S. Equity Standard Shares   -     1,343,960     1,343,960
MFS® Core Equity Initial Class   35,912     -     35,912
MFS® Growth Initial Class   3,848,299     677,779     4,526,078
MFS® Growth Service Class   1,400,465     -     1,400,465
MFS® Massachusetts Investors Growth Stock Initial Class   62,584     -     62,584
MFS® Massachusetts Investors Growth Stock Service Class   1,150,355     36,362     1,186,717
MFS® New Discovery Initial Class   154,717     154,545     309,262
MFS® New Discovery Service Class   332,618     -     332,618
MFS® Research Initial Class   1,515,849     93,755     1,609,604
MFS® Research Service Class   1,086,320     5,440     1,091,760
MFS® Total Return Initial Class   4,828,949     21,026     4,849,975
MFS® Total Return Service Class   1,753,868     31,195     1,785,063
MFS® Total Return Bond Initial Class   111,489     4,137     115,626
MFS® Total Return Bond Service Class   772,731     -     772,731
MFS® Utilities Initial Class   4,052,755     84,318     4,137,073
MFS® Utilities Service Class   764,154     31,682     795,836
Putnam VT Core Equity Class IB Shares   404     -     404
Putnam VT Diversified Income Class IB Shares   192,917     10,088     203,005
Putnam VT Focused International Equity Class IB Shares   994,700     46,221     1,040,921
Putnam VT George Putnam Balanced Class IB Shares   850,118     2,560     852,678
Putnam VT Global Health Care Class IB Shares   106,839     42,718     149,557
Putnam VT Government Money Market Class IB Shares   2,412,588     280,816     2,693,404
 
See accompanying notes
 
12
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Assets and Liabilities
December 31, 2025
                 
Subaccount Net Assets Representing: Accumulation Units   Net Assets Representing: Contracts in Payout (Annuitization) Period   Total Net Assets
Putnam VT Income Class IB Shares $ 149,264   $ -   $ 149,264
Putnam VT International Equity Class IB Shares   51,564     -     51,564
Putnam VT Large Cap Growth Class IB Shares   783,318     60,531     843,849
Putnam VT Large Cap Value Class IB Shares   3,418,061     96,262     3,514,323
Putnam VT Research Class IB Shares   260,328     -     260,328
Putnam VT Sustainable Leaders Class IB Shares   1,860     -     1,860
TA Aegon Bond Initial Class   5,674,663     334,229     6,008,892
TA Aegon Bond Service Class   2,588,088     688     2,588,776
TA Aegon Core Bond Initial Class   937,468     448,708     1,386,176
TA Aegon High Yield Bond Initial Class   1,961,195     240,665     2,201,860
TA Aegon High Yield Bond Service Class   290,875     -     290,875
TA Aegon Sustainable Equity Income Initial Class   9,696,773     903,151     10,599,924
TA Aegon Sustainable Equity Income Service Class   1,748,938     -     1,748,938
TA Aegon U.S. Government Securities Initial Class   1,602,505     575,166     2,177,671
TA Aegon U.S. Government Securities Service Class   1,236,482     -     1,236,482
TA BlackRock Government Money Market Initial Class   1,204,907     4,892,034     6,096,941
TA BlackRock Government Money Market Service Class   3,088,884     -     3,088,884
TA BlackRock iShares Edge 40 Initial Class   776,159     45,544     821,703
TA BlackRock iShares Edge 40 Service Class   257,290     -     257,290
TA BlackRock Real Estate Securities Initial Class   266,688     3,075     269,763
TA BlackRock Real Estate Securities Service Class   200,514     -     200,514
TA International Focus Initial Class   671,913     29,324     701,237
TA International Focus Service Class   743,664     -     743,664
TA Janus Mid-Cap Growth Initial Class   7,577,403     659,774     8,237,177
TA Janus Mid-Cap Growth Service Class   367,742     -     367,742
TA JPMorgan Asset Allocation - Conservative Initial Class   7,994,087     1,056,489     9,050,576
TA JPMorgan Asset Allocation - Conservative Service Class   11,357,185     217,268     11,574,453
TA JPMorgan Asset Allocation - Moderate Initial Class   15,439,135     1,012,835     16,451,970
TA JPMorgan Asset Allocation - Moderate Service Class   30,858,460     1,372,023     32,230,483
TA JPMorgan Asset Allocation - Moderate Growth Initial Class   25,541,398     696,517     26,237,915
TA JPMorgan Asset Allocation - Moderate Growth Service Class   72,197,985     2,805,003     75,002,988
TA JPMorgan Diversified Equity Allocation Initial Class   7,525,024     454,655     7,979,679
TA JPMorgan Diversified Equity Allocation Service Class   7,146,979     971,706     8,118,685
TA JPMorgan Enhanced Index Initial Class   9,501,295     1,599,054     11,100,349
TA JPMorgan Enhanced Index Service Class   757,973     -     757,973
TA JPMorgan International Moderate Growth Initial Class   261,037     -     261,037
TA JPMorgan International Moderate Growth Service Class   4,982,376     860     4,983,236
TA JPMorgan Tactical Allocation Initial Class   428,869     22,475     451,344
TA JPMorgan Tactical Allocation Service Class   370,583     3,534     374,117
TA Multi-Managed Balanced Initial Class   2,219,531     133,443     2,352,974
TA Multi-Managed Balanced Service Class   16,253,766     -     16,253,766
 
See accompanying notes
 
13
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Assets and Liabilities
December 31, 2025
                 
Subaccount Net Assets Representing: Accumulation Units   Net Assets Representing: Contracts in Payout (Annuitization) Period   Total Net Assets
TA Small/Mid Cap Value Initial Class $ 3,298,388   $ 43,539   $ 3,341,927
TA T. Rowe Price Small Cap Initial Class   1,636,809     131,879     1,768,688
TA T. Rowe Price Small Cap Service Class   750,606     -     750,606
TA TSW International Equity Initial Class   623,053     92,111     715,164
TA TSW International Equity Service Class   436,935     -     436,935
TA TSW Mid Cap Value Opportunities Initial Class   622,474     626,568     1,249,042
TA WMC US Growth Initial Class   46,261,916     2,023,384     48,285,300
TA WMC US Growth Service Class   5,891,264     8,461     5,899,725
 
See accompanying notes
 
14
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        AB Large Cap Growth Class B Shares AB Relative Value Class B Shares AB Sustainable Global Thematic Growth Class B Shares Allspring VT Discovery All Cap Growth Class 1 Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            2,656,726 $                                            2,067,196 $                                                 788,692 $                                            1,153,057
               
Investment Income:        
  Reinvested Dividends - 25,594 - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 39,238 34,961 12,155 17,670
    Net Investment Income (Loss) (39,238) (9,367) (12,155) (17,670)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 120,295 72,015 2,431 54,640
  Realized Gain (Loss) on Investments 203,026 25,130 34,380 15,980
    Net Realized Capital Gains (Losses) on Investments 323,321 97,145 36,811 70,620
    Net Change in Unrealized Appreciation (Depreciation) 275,955 147,332 11,742 161,674
      Net Gain (Loss) on Investment 599,276 244,477 48,553 232,294
               
Net Increase (Decrease) in Net Assets Resulting from Operations 560,038 235,110 36,398 214,624
               
Increase (Decrease) in Net Assets from Contract Transactions (402,775) (270,976) (83,664) (129,446)
               
Total Increase (Decrease) in Net Assets 157,263 (35,866) (47,266) 85,178
               
Net Assets as of December 31, 2024: $                                            2,813,989 $                                            2,031,330 $                                                 741,426 $                                            1,238,235
               
Investment Income:        
  Reinvested Dividends - 17,647 - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 40,104 32,419 11,243 18,648
    Net Investment Income (Loss) (40,104) (14,772) (11,243) (18,648)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 272,888 164,784 97,301 427,566
  Realized Gain (Loss) on Investments 102,547 33,017 15,768 (208)
    Net Realized Capital Gains (Losses) on Investments 375,435 197,801 113,069 427,358
    Net Change in Unrealized Appreciation (Depreciation) (36,928) (21,638) (70,592) (239,769)
      Net Gain (Loss) on Investment 338,507 176,163 42,477 187,589
               
Net Increase (Decrease) in Net Assets Resulting from Operations 298,403 161,391 31,234 168,941
               
Increase (Decrease) in Net Assets from Contract Transactions (216,324) (152,232) (29,518) (51,429)
               
Total Increase (Decrease) in Net Assets 82,079 9,159 1,716 117,512
               
Net Assets as of December 31, 2025: $                                            2,896,068 $                                            2,040,489 $                                                 743,142 $                                            1,355,747
 
See Accompanying Notes
(1)See Footnote 1
 
15
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Allspring VT Discovery All Cap Growth Class 2 Shares Allspring VT Opportunity Class 1 Shares Allspring VT Opportunity Class 2 Shares Allspring VT Small Cap Growth Class 1 Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 202,783 $                                            1,470,104 $                                                    85,865 $                                                 711,673
               
Investment Income:        
  Reinvested Dividends - 4,158 29 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,684 22,619 942 11,249
    Net Investment Income (Loss) (2,684) (18,461) (913) (11,249)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 8,068 150,784 6,082 -
  Realized Gain (Loss) on Investments 5,913 18,099 565 (12,011)
    Net Realized Capital Gains (Losses) on Investments 13,981 168,883 6,647 (12,011)
    Net Change in Unrealized Appreciation (Depreciation) 21,214 41,991 1,970 140,061
      Net Gain (Loss) on Investment 35,195 210,874 8,617 128,050
               
Net Increase (Decrease) in Net Assets Resulting from Operations 32,511 192,413 7,704 116,801
               
Increase (Decrease) in Net Assets from Contract Transactions (60,787) (114,778) (28,572) (71,907)
               
Total Increase (Decrease) in Net Assets (28,276) 77,635 (20,868) 44,894
               
Net Assets as of December 31, 2024: $                                                 174,507 $                                            1,547,739 $                                                    64,997 $                                                 756,567
               
Investment Income:        
  Reinvested Dividends - 4,683 32 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,632 22,697 925 11,415
    Net Investment Income (Loss) (2,632) (18,014) (893) (11,415)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 64,158 160,901 6,488 40,820
  Realized Gain (Loss) on Investments (1,594) 6,559 (39) (11,691)
    Net Realized Capital Gains (Losses) on Investments 62,564 167,460 6,449 29,129
    Net Change in Unrealized Appreciation (Depreciation) (36,569) (66,931) (2,612) 40,512
      Net Gain (Loss) on Investment 25,995 100,529 3,837 69,641
               
Net Increase (Decrease) in Net Assets Resulting from Operations 23,363 82,515 2,944 58,226
               
Increase (Decrease) in Net Assets from Contract Transactions (5,662) (29,165) (3,849) (17,029)
               
Total Increase (Decrease) in Net Assets 17,701 53,350 (905) 41,197
               
Net Assets as of December 31, 2025: $                                                 192,208 $                                            1,601,089 $                                                    64,092 $                                                 797,764
 
See Accompanying Notes
(1)See Footnote 1
 
16
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Allspring VT Small Cap Growth Class 2 Shares BNY Mellon Small Cap Initial Shares BNY Mellon Stock Index Initial Shares BNY Mellon Stock Index Service Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 101,202 $                                            1,285,220 $                                            1,808,774 $                                                    22,726
               
Investment Income:        
  Reinvested Dividends - 8,844 21,699 233
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,094 18,235 25,137 640
    Net Investment Income (Loss) (1,094) (9,391) (3,438) (407)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 125,070 1,531
  Realized Gain (Loss) on Investments (4,661) 6,156 181,416 864
    Net Realized Capital Gains (Losses) on Investments (4,661) 6,156 306,486 2,395
    Net Change in Unrealized Appreciation (Depreciation) 19,278 43,839 85,041 2,842
      Net Gain (Loss) on Investment 14,617 49,995 391,527 5,237
               
Net Increase (Decrease) in Net Assets Resulting from Operations 13,523 40,604 388,089 4,830
               
Increase (Decrease) in Net Assets from Contract Transactions (25,944) (26,698) (360,269) (9)
               
Total Increase (Decrease) in Net Assets (12,421) 13,906 27,820 4,821
               
Net Assets as of December 31, 2024: $                                                    88,781 $                                            1,299,126 $                                            1,836,594 $                                                    27,547
               
Investment Income:        
  Reinvested Dividends - 8,381 17,360 216
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 1,107 17,664 22,896 693
    Net Investment Income (Loss) (1,107) (9,283) (5,536) (477)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 5,104 - 94,126 1,585
  Realized Gain (Loss) on Investments (219) (3,077) 149,421 1,184
    Net Realized Capital Gains (Losses) on Investments 4,885 (3,077) 243,547 2,769
    Net Change in Unrealized Appreciation (Depreciation) 2,850 127,796 12,408 1,487
      Net Gain (Loss) on Investment 7,735 124,719 255,955 4,256
               
Net Increase (Decrease) in Net Assets Resulting from Operations 6,628 115,436 250,419 3,779
               
Increase (Decrease) in Net Assets from Contract Transactions (3,346) (187,225) (319,015) (2,172)
               
Total Increase (Decrease) in Net Assets 3,282 (71,789) (68,596) 1,607
               
Net Assets as of December 31, 2025: $                                                    92,063 $                                            1,227,337 $                                            1,767,998 $                                                    29,154
 
See Accompanying Notes
(1)See Footnote 1
 
17
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
 
        BNY Mellon Sustainable U.S. Equity Initial Shares BNY Mellon VIF Appreciation Initial Shares BNY Mellon VIF Government Money Market BNY Mellon VIF Growth and Income Initial Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 225,405 $                                            2,139,486 $                                                 746,426 $                                            1,051,659
               
Investment Income:        
  Reinvested Dividends 1,341 8,623 30,520 6,318
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 3,550 28,681 8,944 15,934
    Net Investment Income (Loss) (2,209) (20,058) 21,576 (9,616)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,596 149,758 - 58,021
  Realized Gain (Loss) on Investments 23,952 (35,943) - 35,369
    Net Realized Capital Gains (Losses) on Investments 25,548 113,815 - 93,390
    Net Change in Unrealized Appreciation (Depreciation) 29,002 122,476 - 117,027
      Net Gain (Loss) on Investment 54,550 236,291 - 210,417
               
Net Increase (Decrease) in Net Assets Resulting from Operations 52,341 216,233 21,576 200,801
               
Increase (Decrease) in Net Assets from Contract Transactions (62,940) (320,740) (169,502) 117,266
               
Total Increase (Decrease) in Net Assets (10,599) (104,507) (147,926) 318,067
               
Net Assets as of December 31, 2024: $                                                 214,806 $                                            2,034,979 $                                                 598,500 $                                            1,369,726
               
Investment Income:        
  Reinvested Dividends 562 7,399 25,773 5,956
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 3,122 28,404 9,178 19,199
    Net Investment Income (Loss) (2,560) (21,005) 16,595 (13,243)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 17,967 309,351 - 109,431
  Realized Gain (Loss) on Investments 2,020 (46,033) - 150,894
    Net Realized Capital Gains (Losses) on Investments 19,987 263,318 - 260,325
    Net Change in Unrealized Appreciation (Depreciation) 13,442 (72,534) - (44,753)
      Net Gain (Loss) on Investment 33,429 190,784 - 215,572
               
Net Increase (Decrease) in Net Assets Resulting from Operations 30,869 169,779 16,595 202,329
               
Increase (Decrease) in Net Assets from Contract Transactions (1,748) (336,062) 62,179 (472,137)
               
Total Increase (Decrease) in Net Assets 29,121 (166,283) 78,774 (269,808)
               
Net Assets as of December 31, 2025: $                                                 243,927 $                                            1,868,696 $                                                 677,274 $                                            1,099,918
 
See Accompanying Notes
(1)See Footnote 1
 
18
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Columbia - Acorn Columbia - Dividend Opportunity Class 1 Shares Columbia - Income Opportunity Class 1 Shares Columbia - Large Cap Growth Class 1 Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 996,623 $                                                 790,279 $                                            1,148,887 $                                            3,896,627
               
Investment Income:        
  Reinvested Dividends - - 58,442 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 12,812 10,825 15,045 61,265
    Net Investment Income (Loss) (12,812) (10,825) 43,397 (61,265)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (45,811) 70,611 (68,561) 571,779
    Net Realized Capital Gains (Losses) on Investments (45,811) 70,611 (68,561) 571,779
    Net Change in Unrealized Appreciation (Depreciation) 180,459 43,285 71,767 581,940
      Net Gain (Loss) on Investment 134,648 113,896 3,206 1,153,719
               
Net Increase (Decrease) in Net Assets Resulting from Operations 121,836 103,071 46,603 1,092,454
               
Increase (Decrease) in Net Assets from Contract Transactions (99,080) (96,091) (190,268) (671,345)
               
Total Increase (Decrease) in Net Assets 22,756 6,980 (143,665) 421,109
               
Net Assets as of December 31, 2024: $                                            1,019,379 $                                                 797,259 $                                            1,005,222 $                                            4,317,736
               
Investment Income:        
  Reinvested Dividends - - 20,409 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 11,620 10,835 14,186 62,639
    Net Investment Income (Loss) (11,620) (10,835) 6,223 (62,639)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (27,227) 49,240 (9,413) 218,015
    Net Realized Capital Gains (Losses) on Investments (27,227) 49,240 (9,413) 218,015
    Net Change in Unrealized Appreciation (Depreciation) 68,973 70,394 74,582 448,566
      Net Gain (Loss) on Investment 41,746 119,634 65,169 666,581
               
Net Increase (Decrease) in Net Assets Resulting from Operations 30,126 108,799 71,392 603,942
               
Increase (Decrease) in Net Assets from Contract Transactions (127,265) (59,772) (42,890) (213,420)
               
Total Increase (Decrease) in Net Assets (97,139) 49,027 28,502 390,522
               
Net Assets as of December 31, 2025: $                                                 922,240 $                                                 846,286 $                                            1,033,724 $                                            4,708,258
 
See Accompanying Notes
(1)See Footnote 1
 
19
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Columbia - Overseas Core Class 2 Shares Columbia - Select Mid Cap Growth Class 1 Shares Columbia - Select Mid Cap Value Class 1 Shares Columbia - Small Cap Value Class 1 Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            1,244,861 $                                            1,118,978 $                                                 209,417 $                                                 825,906
               
Investment Income:        
  Reinvested Dividends 52,571 - - 5,989
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 18,554 16,575 3,073 10,176
    Net Investment Income (Loss) 34,017 (16,575) (3,073) (4,187)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - 34,973
  Realized Gain (Loss) on Investments (879) 111,974 32,195 (17,334)
    Net Realized Capital Gains (Losses) on Investments (879) 111,974 32,195 17,639
    Net Change in Unrealized Appreciation (Depreciation) (11,315) 132,890 (7,768) 44,433
      Net Gain (Loss) on Investment (12,194) 244,864 24,427 62,072
               
Net Increase (Decrease) in Net Assets Resulting from Operations 21,823 228,289 21,354 57,885
               
Increase (Decrease) in Net Assets from Contract Transactions (49,192) (145,930) (43,569) (81,737)
               
Total Increase (Decrease) in Net Assets (27,369) 82,359 (22,215) (23,852)
               
Net Assets as of December 31, 2024: $                                            1,217,492 $                                            1,201,337 $                                                 187,202 $                                                 802,054
               
Investment Income:        
  Reinvested Dividends 24,463 - - 9,340
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 20,596 17,944 2,142 9,798
    Net Investment Income (Loss) 3,867 (17,944) (2,142) (458)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - 129,105
  Realized Gain (Loss) on Investments 13,971 47,364 42,035 (16,308)
    Net Realized Capital Gains (Losses) on Investments 13,971 47,364 42,035 112,797
    Net Change in Unrealized Appreciation (Depreciation) 408,345 130,853 (23,522) (9,096)
      Net Gain (Loss) on Investment 422,316 178,217 18,513 103,701
               
Net Increase (Decrease) in Net Assets Resulting from Operations 426,183 160,273 16,371 103,243
               
Increase (Decrease) in Net Assets from Contract Transactions (77,825) (46,341) (65,906) (94,485)
               
Total Increase (Decrease) in Net Assets 348,358 113,932 (49,535) 8,758
               
Net Assets as of December 31, 2025: $                                            1,565,850 $                                            1,315,269 $                                                 137,667 $                                                 810,812
 
See Accompanying Notes
(1)See Footnote 1
 
20
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Columbia - Small Company Growth Class 1 Shares Columbia - Strategic Income Class 1 Shares CTIVP® - Principal Large Cap Growth Class 1 Shares Davis Equity
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                    23,046 $                                                 542,053 $                                            3,313,989 $                                            2,796,569
               
Investment Income:        
  Reinvested Dividends 561 24,957 - 28,709
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 391 7,068 47,178 38,403
    Net Investment Income (Loss) 170 17,889 (47,178) (9,694)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - 534,709
  Realized Gain (Loss) on Investments (1,500) (6,080) 231,527 (164,522)
    Net Realized Capital Gains (Losses) on Investments (1,500) (6,080) 231,527 370,187
    Net Change in Unrealized Appreciation (Depreciation) 6,184 6,935 440,766 40,541
      Net Gain (Loss) on Investment 4,684 855 672,293 410,728
               
Net Increase (Decrease) in Net Assets Resulting from Operations 4,854 18,744 625,115 401,034
               
Increase (Decrease) in Net Assets from Contract Transactions (2,604) (25,668) (293,577) (554,541)
               
Total Increase (Decrease) in Net Assets 2,250 (6,924) 331,538 (153,507)
               
Net Assets as of December 31, 2024: $                                                    25,296 $                                                 535,129 $                                            3,645,527 $                                            2,643,062
               
Investment Income:        
  Reinvested Dividends - 23,439 - 29,405
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 400 6,654 50,486 39,692
    Net Investment Income (Loss) (400) 16,785 (50,486) (10,287)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 3,222 - - 445,281
  Realized Gain (Loss) on Investments 480 (7,547) 194,796 (60,736)
    Net Realized Capital Gains (Losses) on Investments 3,702 (7,547) 194,796 384,545
    Net Change in Unrealized Appreciation (Depreciation) 1,243 20,715 289,836 269,691
      Net Gain (Loss) on Investment 4,945 13,168 484,632 654,236
               
Net Increase (Decrease) in Net Assets Resulting from Operations 4,545 29,953 434,146 643,949
               
Increase (Decrease) in Net Assets from Contract Transactions (2,738) (61,386) (220,779) (182,108)
               
Total Increase (Decrease) in Net Assets 1,807 (31,433) 213,367 461,841
               
Net Assets as of December 31, 2025: $                                                    27,103 $                                                 503,696 $                                            3,858,894 $                                            3,104,903
 
See Accompanying Notes
(1)See Footnote 1
 
21
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Federated Hermes Government Money II Service Shares Federated Hermes High Income Bond II Primary Shares Federated Hermes Kaufmann II Primary Shares Federated Hermes Kaufmann II Service Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            2,388,332 $                                            1,580,801 $                                            1,473,569 $                                                 964,856
               
Investment Income:        
  Reinvested Dividends 107,208 86,461 12,065 6,479
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 32,766 22,012 22,206 12,079
    Net Investment Income (Loss) 74,442 64,449 (10,141) (5,600)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 39,814 30,215
  Realized Gain (Loss) on Investments - (30,788) (1,919) (98)
    Net Realized Capital Gains (Losses) on Investments - (30,788) 37,895 30,117
    Net Change in Unrealized Appreciation (Depreciation) - 38,432 180,113 115,999
      Net Gain (Loss) on Investment - 7,644 218,008 146,116
               
Net Increase (Decrease) in Net Assets Resulting from Operations 74,442 72,093 207,867 140,516
               
Increase (Decrease) in Net Assets from Contract Transactions (214,271) (151,096) (211,686) (155,210)
               
Total Increase (Decrease) in Net Assets (139,829) (79,003) (3,819) (14,694)
               
Net Assets as of December 31, 2024: $                                            2,248,503 $                                            1,501,798 $                                            1,469,750 $                                                 950,162
               
Investment Income:        
  Reinvested Dividends 79,634 87,766 - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 30,163 20,317 22,240 11,350
    Net Investment Income (Loss) 49,471 67,449 (22,240) (11,350)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 149,682 103,936
  Realized Gain (Loss) on Investments - (35,357) 14,209 (24,371)
    Net Realized Capital Gains (Losses) on Investments - (35,357) 163,891 79,565
    Net Change in Unrealized Appreciation (Depreciation) - 61,354 (4,148) 20,280
      Net Gain (Loss) on Investment - 25,997 159,743 99,845
               
Net Increase (Decrease) in Net Assets Resulting from Operations 49,471 93,446 137,503 88,495
               
Increase (Decrease) in Net Assets from Contract Transactions (176,115) (221,660) (123,125) (132,423)
               
Total Increase (Decrease) in Net Assets (126,644) (128,214) 14,378 (43,928)
               
Net Assets as of December 31, 2025: $                                            2,121,859 $                                            1,373,584 $                                            1,484,128 $                                                 906,234
 
See Accompanying Notes
(1)See Footnote 1
 
22
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Federated Hermes Managed Volatility II Primary Shares Federated Hermes Managed Volatility II Service Shares Federated Hermes Quality Bond II Primary Shares Fidelity® VIP Asset Manager 50% Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 692,707 $                                                 271,735 $                                                    95,228 $                                                 841,818
               
Investment Income:        
  Reinvested Dividends 16,232 5,333 2,825 17,939
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 9,874 3,361 1,286 10,626
    Net Investment Income (Loss) 6,358 1,972 1,539 7,313
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - 5,192
  Realized Gain (Loss) on Investments 9,120 (2,790) (304) 11,331
    Net Realized Capital Gains (Losses) on Investments 9,120 (2,790) (304) 16,523
    Net Change in Unrealized Appreciation (Depreciation) 79,725 36,881 1,105 29,565
      Net Gain (Loss) on Investment 88,845 34,091 801 46,088
               
Net Increase (Decrease) in Net Assets Resulting from Operations 95,203 36,063 2,340 53,401
               
Increase (Decrease) in Net Assets from Contract Transactions (140,941) (29,744) (3,613) (161,562)
               
Total Increase (Decrease) in Net Assets (45,738) 6,319 (1,273) (108,161)
               
Net Assets as of December 31, 2024: $                                                 646,969 $                                                 278,054 $                                                    93,955 $                                                 733,657
               
Investment Income:        
  Reinvested Dividends 18,229 7,053 3,174 19,056
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 8,670 3,280 1,274 10,439
    Net Investment Income (Loss) 9,559 3,773 1,900 8,617
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 11,121 4,682 - 34,395
  Realized Gain (Loss) on Investments (65) (607) (215) 13,091
    Net Realized Capital Gains (Losses) on Investments 11,056 4,075 (215) 47,486
    Net Change in Unrealized Appreciation (Depreciation) 14,841 6,399 3,544 39,244
      Net Gain (Loss) on Investment 25,897 10,474 3,329 86,730
               
Net Increase (Decrease) in Net Assets Resulting from Operations 35,456 14,247 5,229 95,347
               
Increase (Decrease) in Net Assets from Contract Transactions (29,209) (27,857) (4,792) (38,023)
               
Total Increase (Decrease) in Net Assets 6,247 (13,610) 437 57,324
               
Net Assets as of December 31, 2025: $                                                 653,216 $                                                 264,444 $                                                    94,392 $                                                 790,981
 
See Accompanying Notes
(1)See Footnote 1
 
23
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP Asset Manager 70% Initial Class Fidelity® VIP Balanced Initial Class Fidelity® VIP Balanced Service Class 2 Fidelity® VIP Contrafund® Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 455,607 $                                            2,109,889 $                                                 290,938 $                                            8,566,992
               
Investment Income:        
  Reinvested Dividends 6,298 40,850 5,024 18,122
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 5,409 29,750 3,937 130,643
    Net Investment Income (Loss) 889 11,100 1,087 (112,521)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 5,293 70,304 10,000 1,145,721
  Realized Gain (Loss) on Investments 37,227 68,477 18,901 444,380
    Net Realized Capital Gains (Losses) on Investments 42,520 138,781 28,901 1,590,101
    Net Change in Unrealized Appreciation (Depreciation) (5,497) 145,114 8,468 1,139,166
      Net Gain (Loss) on Investment 37,023 283,895 37,369 2,729,267
               
Net Increase (Decrease) in Net Assets Resulting from Operations 37,912 294,995 38,456 2,616,746
               
Increase (Decrease) in Net Assets from Contract Transactions (138,091) (113,349) (28,534) (999,894)
               
Total Increase (Decrease) in Net Assets (100,179) 181,646 9,922 1,616,852
               
Net Assets as of December 31, 2024: $                                                 355,428 $                                            2,291,535 $                                                 300,860 $                                         10,183,844
               
Investment Income:        
  Reinvested Dividends 4,680 38,919 6,478 14,695
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 4,270 30,324 6,028 141,020
    Net Investment Income (Loss) 410 8,595 450 (126,325)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 12,266 110,935 15,785 1,688,035
  Realized Gain (Loss) on Investments 38,465 93,529 4,694 511,815
    Net Realized Capital Gains (Losses) on Investments 50,731 204,464 20,479 2,199,850
    Net Change in Unrealized Appreciation (Depreciation) 129 86,635 40,919 (143,142)
      Net Gain (Loss) on Investment 50,860 291,099 61,398 2,056,708
               
Net Increase (Decrease) in Net Assets Resulting from Operations 51,270 299,694 61,848 1,930,383
               
Increase (Decrease) in Net Assets from Contract Transactions (140,004) (225,048) 85,364 (879,739)
               
Total Increase (Decrease) in Net Assets (88,734) 74,646 147,212 1,050,644
               
Net Assets as of December 31, 2025: $                                                 266,694 $                                            2,366,181 $                                                 448,072 $                                         11,234,488
 
See Accompanying Notes
(1)See Footnote 1
 
24
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP Contrafund® Service Class 2 Fidelity® VIP Equity-Income Initial Class Fidelity® VIP Equity-Income Service Class 2 Fidelity® VIP Government Money Market Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            8,839,127 $                                            3,344,616 $                                            5,655,911 $                                                 688,437
               
Investment Income:        
  Reinvested Dividends 3,479 61,608 86,808 32,221
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 165,933 47,190 83,162 8,483
    Net Investment Income (Loss) (162,454) 14,418 3,646 23,738
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,345,560 201,708 328,856 -
  Realized Gain (Loss) on Investments 549,181 69,453 204,262 -
    Net Realized Capital Gains (Losses) on Investments 1,894,741 271,161 533,118 -
    Net Change in Unrealized Appreciation (Depreciation) 1,055,917 160,618 176,086 -
      Net Gain (Loss) on Investment 2,950,658 431,779 709,204 -
               
Net Increase (Decrease) in Net Assets Resulting from Operations 2,788,204 446,197 712,850 23,738
               
Increase (Decrease) in Net Assets from Contract Transactions (60,679) (282,860) (910,672) (79,662)
               
Total Increase (Decrease) in Net Assets 2,727,525 163,337 (197,822) (55,924)
               
Net Assets as of December 31, 2024: $                                         11,566,652 $                                            3,507,953 $                                            5,458,089 $                                                 632,513
               
Investment Income:        
  Reinvested Dividends - 66,280 91,955 23,525
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 168,862 48,713 82,808 7,560
    Net Investment Income (Loss) (168,862) 17,567 9,147 15,965
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,613,910 204,683 325,531 -
  Realized Gain (Loss) on Investments 1,390,095 78,149 140,737 -
    Net Realized Capital Gains (Losses) on Investments 3,004,005 282,832 466,268 -
    Net Change in Unrealized Appreciation (Depreciation) (821,176) 291,306 415,223 -
      Net Gain (Loss) on Investment 2,182,829 574,138 881,491 -
               
Net Increase (Decrease) in Net Assets Resulting from Operations 2,013,967 591,705 890,638 15,965
               
Increase (Decrease) in Net Assets from Contract Transactions (3,863,365) (201,513) (451,894) (134,607)
               
Total Increase (Decrease) in Net Assets (1,849,398) 390,192 438,744 (118,642)
               
Net Assets as of December 31, 2025: $                                            9,717,254 $                                            3,898,145 $                                            5,896,833 $                                                 513,871
 
See Accompanying Notes
(1)See Footnote 1
 
25
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP Government Money Market Service Class 2 Fidelity® VIP Growth Initial Class Fidelity® VIP Growth Service Class 2 Fidelity® VIP Growth & Income Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 197,920 $                                            6,652,419 $                                            2,728,272 $                                            2,800,685
               
Investment Income:        
  Reinvested Dividends 9,006 65 - 41,896
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,585 102,150 44,364 40,374
    Net Investment Income (Loss) 6,421 (102,085) (44,364) 1,522
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 1,622,553 659,933 191,461
  Realized Gain (Loss) on Investments - 419,807 246,491 192,650
    Net Realized Capital Gains (Losses) on Investments - 2,042,360 906,424 384,111
    Net Change in Unrealized Appreciation (Depreciation) - (96,175) (117,346) 160,658
      Net Gain (Loss) on Investment - 1,946,185 789,078 544,769
               
Net Increase (Decrease) in Net Assets Resulting from Operations 6,421 1,844,100 744,714 546,291
               
Increase (Decrease) in Net Assets from Contract Transactions (20,173) (788,184) (428,913) (372,446)
               
Total Increase (Decrease) in Net Assets (13,752) 1,055,916 315,801 173,845
               
Net Assets as of December 31, 2024: $                                                 184,168 $                                            7,708,335 $                                            3,044,073 $                                            2,974,530
               
Investment Income:        
  Reinvested Dividends 6,710 22,268 1,249 47,298
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,389 104,437 36,975 41,723
    Net Investment Income (Loss) 4,321 (82,169) (35,726) 5,575
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 990,880 343,467 286,477
  Realized Gain (Loss) on Investments - 309,447 154,400 120,222
    Net Realized Capital Gains (Losses) on Investments - 1,300,327 497,867 406,699
    Net Change in Unrealized Appreciation (Depreciation) - (226,669) (199,888) 146,719
      Net Gain (Loss) on Investment - 1,073,658 297,979 553,418
               
Net Increase (Decrease) in Net Assets Resulting from Operations 4,321 991,489 262,253 558,993
               
Increase (Decrease) in Net Assets from Contract Transactions (19,587) (629,776) (690,541) (279,098)
               
Total Increase (Decrease) in Net Assets (15,266) 361,713 (428,288) 279,895
               
Net Assets as of December 31, 2025: $                                                 168,902 $                                            8,070,048 $                                            2,615,785 $                                            3,254,425
 
See Accompanying Notes
(1)See Footnote 1
 
26
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP Growth & Income Service Class 2 Fidelity® VIP Growth Opportunities Initial Class Fidelity® VIP Growth Opportunities Service Class Fidelity® VIP Growth Opportunities Service Class 2
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 384,533 $                                            2,935,727 $                                            1,792,181 $                                                 725,306
               
Investment Income:        
  Reinvested Dividends 5,401 - - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 5,542 45,599 28,899 13,035
    Net Investment Income (Loss) (141) (45,599) (28,899) (13,035)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 29,168 - - -
  Realized Gain (Loss) on Investments 10,360 170,212 204,843 19,794
    Net Realized Capital Gains (Losses) on Investments 39,528 170,212 204,843 19,794
    Net Change in Unrealized Appreciation (Depreciation) 38,074 920,598 428,440 254,675
      Net Gain (Loss) on Investment 77,602 1,090,810 633,283 274,469
               
Net Increase (Decrease) in Net Assets Resulting from Operations 77,461 1,045,211 604,384 261,434
               
Increase (Decrease) in Net Assets from Contract Transactions (19,516) (242,382) (340,515) (16,892)
               
Total Increase (Decrease) in Net Assets 57,945 802,829 263,869 244,542
               
Net Assets as of December 31, 2024: $                                                 442,478 $                                            3,738,556 $                                            2,056,050 $                                                 969,848
               
Investment Income:        
  Reinvested Dividends 5,366 - - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 5,462 52,319 30,198 15,223
    Net Investment Income (Loss) (96) (52,319) (30,198) (15,223)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 39,352 61,172 31,276 14,106
  Realized Gain (Loss) on Investments 36,173 285,741 84,800 35,106
    Net Realized Capital Gains (Losses) on Investments 75,525 346,913 116,076 49,212
    Net Change in Unrealized Appreciation (Depreciation) (1,634) 446,394 285,676 153,150
      Net Gain (Loss) on Investment 73,891 793,307 401,752 202,362
               
Net Increase (Decrease) in Net Assets Resulting from Operations 73,795 740,988 371,554 187,139
               
Increase (Decrease) in Net Assets from Contract Transactions (88,242) (361,944) (169,934) (34,532)
               
Total Increase (Decrease) in Net Assets (14,447) 379,044 201,620 152,607
               
Net Assets as of December 31, 2025: $                                                 428,031 $                                            4,117,600 $                                            2,257,670 $                                            1,122,455
 
See Accompanying Notes
(1)See Footnote 1
 
27
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP High Income Initial Class Fidelity® VIP High Income Service Class Fidelity® VIP High Income Service Class 2 Fidelity® VIP Index 500 Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 716,695 $                                                 530,126 $                                                 271,496 $                                         16,687,219
               
Investment Income:        
  Reinvested Dividends 40,693 27,173 11,422 225,263
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 9,102 7,114 3,659 253,581
    Net Investment Income (Loss) 31,591 20,059 7,763 (28,318)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - 10,647
  Realized Gain (Loss) on Investments (19,799) (24,231) (11,525) 1,860,062
    Net Realized Capital Gains (Losses) on Investments (19,799) (24,231) (11,525) 1,870,709
    Net Change in Unrealized Appreciation (Depreciation) 37,933 38,160 23,491 1,840,995
      Net Gain (Loss) on Investment 18,134 13,929 11,966 3,711,704
               
Net Increase (Decrease) in Net Assets Resulting from Operations 49,725 33,988 19,729 3,683,386
               
Increase (Decrease) in Net Assets from Contract Transactions (77,767) (84,414) (104,168) (1,980,953)
               
Total Increase (Decrease) in Net Assets (28,042) (50,426) (84,439) 1,702,433
               
Net Assets as of December 31, 2024: $                                                 688,653 $                                                 479,700 $                                                 187,057 $                                         18,389,652
               
Investment Income:        
  Reinvested Dividends 42,601 30,078 12,932 209,996
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 8,914 6,755 2,658 257,128
    Net Investment Income (Loss) 33,687 23,323 10,274 (47,132)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - 95,895
  Realized Gain (Loss) on Investments (9,025) (5,489) (754) 1,480,262
    Net Realized Capital Gains (Losses) on Investments (9,025) (5,489) (754) 1,576,157
    Net Change in Unrealized Appreciation (Depreciation) 32,214 22,404 6,798 1,234,523
      Net Gain (Loss) on Investment 23,189 16,915 6,044 2,810,680
               
Net Increase (Decrease) in Net Assets Resulting from Operations 56,876 40,238 16,318 2,763,548
               
Increase (Decrease) in Net Assets from Contract Transactions (71,182) (38,795) (3,805) (1,798,046)
               
Total Increase (Decrease) in Net Assets (14,306) 1,443 12,513 965,502
               
Net Assets as of December 31, 2025: $                                                 674,347 $                                                 481,143 $                                                 199,570 $                                         19,355,154
 
See Accompanying Notes
(1)See Footnote 1
 
28
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP Index 500 Service Class 2 Fidelity® VIP Investment Grade Bond Initial Class Fidelity® VIP Investment Grade Bond Service Class 2 Fidelity® VIP Mid Cap Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            1,546,030 $                                            3,000,628 $                                                 474,010 $                                            3,381,581
               
Investment Income:        
  Reinvested Dividends 14,127 96,045 14,329 19,828
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 21,300 40,523 6,154 50,534
    Net Investment Income (Loss) (7,173) 55,522 8,175 (30,706)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 760 - - 463,353
  Realized Gain (Loss) on Investments 413,233 (47,333) (10,108) 31,288
    Net Realized Capital Gains (Losses) on Investments 413,993 (47,333) (10,108) 494,641
    Net Change in Unrealized Appreciation (Depreciation) (75,959) 978 3,128 62,763
      Net Gain (Loss) on Investment 338,034 (46,355) (6,980) 557,404
               
Net Increase (Decrease) in Net Assets Resulting from Operations 330,861 9,167 1,195 526,698
               
Increase (Decrease) in Net Assets from Contract Transactions (709,234) (314,685) (53,790) (191,648)
               
Total Increase (Decrease) in Net Assets (378,373) (305,518) (52,595) 335,050
               
Net Assets as of December 31, 2024: $                                            1,167,657 $                                            2,695,110 $                                                 421,415 $                                            3,716,631
               
Investment Income:        
  Reinvested Dividends 12,261 91,761 13,764 15,433
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 17,952 37,926 5,595 49,899
    Net Investment Income (Loss) (5,691) 53,835 8,169 (34,466)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 6,512 - - 406,407
  Realized Gain (Loss) on Investments 63,284 (27,345) (6,969) 31,635
    Net Realized Capital Gains (Losses) on Investments 69,796 (27,345) (6,969) 438,042
    Net Change in Unrealized Appreciation (Depreciation) 138,183 122,777 21,062 (48,963)
      Net Gain (Loss) on Investment 207,979 95,432 14,093 389,079
               
Net Increase (Decrease) in Net Assets Resulting from Operations 202,288 149,267 22,262 354,613
               
Increase (Decrease) in Net Assets from Contract Transactions 62,056 (266,290) (44,266) (303,067)
               
Total Increase (Decrease) in Net Assets 264,344 (117,023) (22,004) 51,546
               
Net Assets as of December 31, 2025: $                                            1,432,001 $                                            2,578,087 $                                                 399,411 $                                            3,768,177
 
See Accompanying Notes
(1)See Footnote 1
 
29
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Fidelity® VIP Mid Cap Service Class 2 Fidelity® VIP Overseas Initial Class Fidelity® VIP Value Strategies Service Class 2 Franklin Income Class 2 Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            5,991,910 $                                                 753,200 $                                            2,347,203 $                                                 126,885
               
Investment Income:        
  Reinvested Dividends 20,019 13,134 18,809 6,724
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 92,381 10,747 37,611 1,329
    Net Investment Income (Loss) (72,362) 2,387 (18,802) 5,395
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 786,280 36,386 334,693 551
  Realized Gain (Loss) on Investments 182,313 13,476 53,087 (380)
    Net Realized Capital Gains (Losses) on Investments 968,593 49,862 387,780 171
    Net Change in Unrealized Appreciation (Depreciation) (10,050) (24,675) (195,444) 2,064
      Net Gain (Loss) on Investment 958,543 25,187 192,336 2,235
               
Net Increase (Decrease) in Net Assets Resulting from Operations 886,181 27,574 173,534 7,630
               
Increase (Decrease) in Net Assets from Contract Transactions (976,655) (11,476) (120,941) (2,041)
               
Total Increase (Decrease) in Net Assets (90,474) 16,098 52,593 5,589
               
Net Assets as of December 31, 2024: $                                            5,901,436 $                                                 769,298 $                                            2,399,796 $                                                 132,474
               
Investment Income:        
  Reinvested Dividends 13,711 12,622 17,561 6,338
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 83,553 10,929 33,770 1,299
    Net Investment Income (Loss) (69,842) 1,693 (16,209) 5,039
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 674,607 70,407 90,752 1,332
  Realized Gain (Loss) on Investments 14,020 41,747 67,060 (277)
    Net Realized Capital Gains (Losses) on Investments 688,627 112,154 157,812 1,055
    Net Change in Unrealized Appreciation (Depreciation) (114,237) 27,101 (20,873) 7,721
      Net Gain (Loss) on Investment 574,390 139,255 136,939 8,776
               
Net Increase (Decrease) in Net Assets Resulting from Operations 504,548 140,948 120,730 13,815
               
Increase (Decrease) in Net Assets from Contract Transactions (586,006) (102,708) (226,789) (13,516)
               
Total Increase (Decrease) in Net Assets (81,458) 38,240 (106,059) 299
               
Net Assets as of December 31, 2025: $                                            5,819,978 $                                                 807,538 $                                            2,293,737 $                                                 132,773
 
See Accompanying Notes
(1)See Footnote 1
 
30
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Franklin Mutual Shares Class 2 Shares Franklin Rising Dividends Class 2 Shares Franklin Small Cap Value Class 2 Shares Franklin Small-Mid Cap Growth Class 2 Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            3,172,048 $                                            1,374,245 $                                                 970,321 $                                            3,689,397
               
Investment Income:        
  Reinvested Dividends 60,907 14,528 9,275 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 44,207 20,694 12,502 51,828
    Net Investment Income (Loss) 16,700 (6,166) (3,227) (51,828)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 63,339 69,123 22,924 -
  Realized Gain (Loss) on Investments (64,347) 12,442 (25,083) (134,597)
    Net Realized Capital Gains (Losses) on Investments (1,008) 81,565 (2,159) (134,597)
    Net Change in Unrealized Appreciation (Depreciation) 274,513 50,101 94,494 502,254
      Net Gain (Loss) on Investment 273,505 131,666 92,335 367,657
               
Net Increase (Decrease) in Net Assets Resulting from Operations 290,205 125,500 89,108 315,829
               
Increase (Decrease) in Net Assets from Contract Transactions (459,222) (29,189) (111,447) (481,604)
               
Total Increase (Decrease) in Net Assets (169,017) 96,311 (22,339) (165,775)
               
Net Assets as of December 31, 2024: $                                            3,003,031 $                                            1,470,556 $                                                 947,982 $                                            3,523,622
               
Investment Income:        
  Reinvested Dividends 58,871 11,519 9,942 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 41,205 19,951 12,039 49,357
    Net Investment Income (Loss) 17,666 (8,432) (2,097) (49,357)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 290,061 138,006 77,536 192,954
  Realized Gain (Loss) on Investments (46,665) 14,555 (11,072) (45,821)
    Net Realized Capital Gains (Losses) on Investments 243,396 152,561 66,464 147,133
    Net Change in Unrealized Appreciation (Depreciation) 11,454 (3,367) (8,887) (62,996)
      Net Gain (Loss) on Investment 254,850 149,194 57,577 84,137
               
Net Increase (Decrease) in Net Assets Resulting from Operations 272,516 140,762 55,480 34,780
               
Increase (Decrease) in Net Assets from Contract Transactions (339,675) (187,208) (46,446) (237,271)
               
Total Increase (Decrease) in Net Assets (67,159) (46,446) 9,034 (202,491)
               
Net Assets as of December 31, 2025: $                                            2,935,872 $                                            1,424,110 $                                                 957,016 $                                            3,321,131
 
See Accompanying Notes
(1)See Footnote 1
 
31
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Franklin Templeton Developing Markets Class 2 Shares Franklin Templeton Foreign Class 2 Shares Invesco V.I. American Franchise Series I Shares Invesco V.I. American Franchise Series II Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 449,197 $                                            1,564,172 $                                            2,201,123 $                                                 298,755
               
Investment Income:        
  Reinvested Dividends 18,423 36,556 - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 6,808 21,004 32,694 4,474
    Net Investment Income (Loss) 11,615 15,552 (32,694) (4,474)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 3,541 - - -
  Realized Gain (Loss) on Investments (5,688) 21,816 143,788 14,214
    Net Realized Capital Gains (Losses) on Investments (2,147) 21,816 143,788 14,214
    Net Change in Unrealized Appreciation (Depreciation) 16,281 (63,497) 548,033 83,637
      Net Gain (Loss) on Investment 14,134 (41,681) 691,821 97,851
               
Net Increase (Decrease) in Net Assets Resulting from Operations 25,749 (26,129) 659,127 93,377
               
Increase (Decrease) in Net Assets from Contract Transactions (8,006) (191,331) (462,790) (53,126)
               
Total Increase (Decrease) in Net Assets 17,743 (217,460) 196,337 40,251
               
Net Assets as of December 31, 2024: $                                                 466,940 $                                            1,346,712 $                                            2,397,460 $                                                 339,006
               
Investment Income:        
  Reinvested Dividends 2,917 34,106 - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 7,945 20,298 26,799 4,600
    Net Investment Income (Loss) (5,028) 13,808 (26,799) (4,600)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 9,105 95,232 161,557 36,998
  Realized Gain (Loss) on Investments 5,496 17,822 161,582 4,952
    Net Realized Capital Gains (Losses) on Investments 14,601 113,054 323,139 41,950
    Net Change in Unrealized Appreciation (Depreciation) 190,913 223,811 (176,367) (4,008)
      Net Gain (Loss) on Investment 205,514 336,865 146,772 37,942
               
Net Increase (Decrease) in Net Assets Resulting from Operations 200,486 350,673 119,973 33,342
               
Increase (Decrease) in Net Assets from Contract Transactions (23,847) (147,566) (742,116) (8,703)
               
Total Increase (Decrease) in Net Assets 176,639 203,107 (622,143) 24,639
               
Net Assets as of December 31, 2025: $                                                 643,579 $                                            1,549,819 $                                            1,775,317 $                                                 363,645
 
See Accompanying Notes
(1)See Footnote 1
 
32
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Invesco V.I. American Value Series II Shares Invesco V.I. Comstock Series II Shares Invesco V.I. Core Equity Series II Shares Invesco V.I. Discovery Large Cap Series I Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 906,471 $                                            1,037,741 $                                                 969,008 $                                            7,412,188
               
Investment Income:        
  Reinvested Dividends 2,900 15,769 5,311 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 6,571 12,250 15,274 111,990
    Net Investment Income (Loss) (3,671) 3,519 (9,963) (111,990)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 8,696 73,966 91,909 -
  Realized Gain (Loss) on Investments (10,456) 25,616 4,003 (37,110)
    Net Realized Capital Gains (Losses) on Investments (1,760) 99,582 95,912 (37,110)
    Net Change in Unrealized Appreciation (Depreciation) 128,348 30,951 137,990 2,307,631
      Net Gain (Loss) on Investment 126,588 130,533 233,902 2,270,521
               
Net Increase (Decrease) in Net Assets Resulting from Operations 122,917 134,052 223,939 2,158,531
               
Increase (Decrease) in Net Assets from Contract Transactions (631,615) (133,485) (46,244) (1,701,276)
               
Total Increase (Decrease) in Net Assets (508,698) 567 177,695 457,255
               
Net Assets as of December 31, 2024: $                                                 397,773 $                                            1,038,308 $                                            1,146,703 $                                            7,869,443
               
Investment Income:        
  Reinvested Dividends 883 15,102 4,816 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 6,070 12,192 16,537 107,262
    Net Investment Income (Loss) (5,187) 2,910 (11,721) (107,262)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 63,431 111,913 88,103 877,821
  Realized Gain (Loss) on Investments 5,574 25,810 18,119 243,606
    Net Realized Capital Gains (Losses) on Investments 69,005 137,723 106,222 1,121,427
    Net Change in Unrealized Appreciation (Depreciation) 8,482 14,549 63,571 (241,114)
      Net Gain (Loss) on Investment 77,487 152,272 169,793 880,313
               
Net Increase (Decrease) in Net Assets Resulting from Operations 72,300 155,182 158,072 773,051
               
Increase (Decrease) in Net Assets from Contract Transactions (32,283) (109,306) (110,223) (1,096,880)
               
Total Increase (Decrease) in Net Assets 40,017 45,876 47,849 (323,829)
               
Net Assets as of December 31, 2025: $                                                 437,790 $                                            1,084,184 $                                            1,194,552 $                                            7,545,614
 
See Accompanying Notes
(1)See Footnote 1
 
33
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Invesco V.I. Discovery Large Cap Series II Shares Invesco V.I. Discovery Mid Cap Growth Series II Shares Invesco V.I. Equity and Income Series I Shares Invesco V.I. Equity and Income Series II Shares
        Subaccount Subaccount Subaccount(1) Subaccount
               
Net Assets as of December 31, 2023: $                                                 533,828 $                                                 120,289 $                                                                   - $                                            2,403,495
               
Investment Income:        
  Reinvested Dividends - - 16,356 38,361
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 8,149 1,565 9,305 30,883
    Net Investment Income (Loss) (8,149) (1,565) 7,051 7,478
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 35,102 93,704
  Realized Gain (Loss) on Investments 4,593 (2,432) 7,914 4,333
    Net Realized Capital Gains (Losses) on Investments 4,593 (2,432) 43,016 98,037
    Net Change in Unrealized Appreciation (Depreciation) 159,997 29,247 7,897 140,932
      Net Gain (Loss) on Investment 164,590 26,815 50,913 238,969
               
Net Increase (Decrease) in Net Assets Resulting from Operations 156,441 25,250 57,964 246,447
               
Increase (Decrease) in Net Assets from Contract Transactions (107,748) (19,074) 853,375 (236,713)
               
Total Increase (Decrease) in Net Assets 48,693 6,176 911,339 9,734
               
Net Assets as of December 31, 2024: $                                                 582,521 $                                                 126,465 $                                                 911,339 $                                            2,413,229
               
Investment Income:        
  Reinvested Dividends - - 16,893 42,992
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 8,134 1,419 11,917 29,173
    Net Investment Income (Loss) (8,134) (1,419) 4,976 13,819
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 74,416 11,105 42,913 123,348
  Realized Gain (Loss) on Investments 8,634 (11,935) 6,717 20,792
    Net Realized Capital Gains (Losses) on Investments 83,050 (830) 49,630 144,140
    Net Change in Unrealized Appreciation (Depreciation) (15,122) 5,866 33,815 89,449
      Net Gain (Loss) on Investment 67,928 5,036 83,445 233,589
               
Net Increase (Decrease) in Net Assets Resulting from Operations 59,794 3,617 88,421 247,408
               
Increase (Decrease) in Net Assets from Contract Transactions (47,966) (47,939) (159,773) (327,841)
               
Total Increase (Decrease) in Net Assets 11,828 (44,322) (71,352) (80,433)
               
Net Assets as of December 31, 2025: $                                                 594,349 $                                                    82,143 $                                                 839,987 $                                            2,332,796
 
See Accompanying Notes
(1)See Footnote 1
 
34
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Invesco V.I. EQV International Equity Series I Shares Invesco V.I. EQV International Equity Series II Shares Invesco V.I. Global Series I Shares Invesco V.I. Global Series II Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 386,147 $                                                    57,394 $                                            1,999,259 $                                                    35,986
               
Investment Income:        
  Reinvested Dividends 6,456 854 - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 5,720 660 31,729 551
    Net Investment Income (Loss) 736 194 (31,729) (551)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,919 296 121,660 2,361
  Realized Gain (Loss) on Investments 2,614 199 28,131 26
    Net Realized Capital Gains (Losses) on Investments 4,533 495 149,791 2,387
    Net Change in Unrealized Appreciation (Depreciation) (7,470) (1,094) 165,035 3,269
      Net Gain (Loss) on Investment (2,937) (599) 314,826 5,656
               
Net Increase (Decrease) in Net Assets Resulting from Operations (2,201) (405) 283,097 5,105
               
Increase (Decrease) in Net Assets from Contract Transactions (33,850) (4,061) (164,300) (874)
               
Total Increase (Decrease) in Net Assets (36,051) (4,466) 118,797 4,231
               
Net Assets as of December 31, 2024: $                                                 350,096 $                                                    52,928 $                                            2,118,056 $                                                    40,217
               
Investment Income:        
  Reinvested Dividends 5,393 654 - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 5,704 648 26,192 579
    Net Investment Income (Loss) (311) 6 (26,192) (579)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 23,937 3,571 299,584 8,179
  Realized Gain (Loss) on Investments 1,211 114 (40,700) 15
    Net Realized Capital Gains (Losses) on Investments 25,148 3,685 258,884 8,194
    Net Change in Unrealized Appreciation (Depreciation) 26,204 3,953 (69,605) (2,321)
      Net Gain (Loss) on Investment 51,352 7,638 189,279 5,873
               
Net Increase (Decrease) in Net Assets Resulting from Operations 51,041 7,644 163,087 5,294
               
Increase (Decrease) in Net Assets from Contract Transactions (10,197) (3,288) (584,125) (641)
               
Total Increase (Decrease) in Net Assets 40,844 4,356 (421,038) 4,653
               
Net Assets as of December 31, 2025: $                                                 390,940 $                                                    57,284 $                                            1,697,018 $                                                    44,870
 
See Accompanying Notes
(1)See Footnote 1
 
35
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Invesco V.I. Global Strategic Income Series I Shares Invesco V.I. Global Strategic Income Series II Shares Invesco V.I. Government Securities Series I Shares Invesco V.I. Government Securities Series II Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            1,145,795 $                                                 339,519 $                                                 246,268 $                                                 234,243
               
Investment Income:        
  Reinvested Dividends 28,596 8,696 5,385 5,357
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 14,120 4,729 3,041 3,493
    Net Investment Income (Loss) 14,476 3,967 2,344 1,864
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (40,238) (6,776) (6,851) (2,721)
    Net Realized Capital Gains (Losses) on Investments (40,238) (6,776) (6,851) (2,721)
    Net Change in Unrealized Appreciation (Depreciation) 42,184 6,812 5,791 797
      Net Gain (Loss) on Investment 1,946 36 (1,060) (1,924)
               
Net Increase (Decrease) in Net Assets Resulting from Operations 16,422 4,003 1,284 (60)
               
Increase (Decrease) in Net Assets from Contract Transactions (236,408) (28,124) (40,548) (13,669)
               
Total Increase (Decrease) in Net Assets (219,986) (24,121) (39,264) (13,729)
               
Net Assets as of December 31, 2024: $                                                 925,809 $                                                 315,398 $                                                 207,004 $                                                 220,514
               
Investment Income:        
  Reinvested Dividends 54,416 16,853 6,045 6,237
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 13,014 4,594 2,616 3,338
    Net Investment Income (Loss) 41,402 12,259 3,429 2,899
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (6,505) (4,870) (2,911) (2,731)
    Net Realized Capital Gains (Losses) on Investments (6,505) (4,870) (2,911) (2,731)
    Net Change in Unrealized Appreciation (Depreciation) 67,877 25,982 11,394 11,430
      Net Gain (Loss) on Investment 61,372 21,112 8,483 8,699
               
Net Increase (Decrease) in Net Assets Resulting from Operations 102,774 33,371 11,912 11,598
               
Increase (Decrease) in Net Assets from Contract Transactions (58,346) (26,691) (19,984) (17,818)
               
Total Increase (Decrease) in Net Assets 44,428 6,680 (8,072) (6,220)
               
Net Assets as of December 31, 2025: $                                                 970,237 $                                                 322,078 $                                                 198,932 $                                                 214,294
 
See Accompanying Notes
(1)See Footnote 1
 
36
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Invesco V.I. Main Street Series I Shares Invesco V.I. Main Street Series II Shares Invesco V.I. Main Street Mid Cap Series II Shares Invesco V.I. Main Street Small Cap Series II Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            3,373,909 $                                                 555,931 $                                                 229,710 $                                                    50,016
               
Investment Income:        
  Reinvested Dividends - - 303 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 51,760 9,476 3,203 817
    Net Investment Income (Loss) (51,760) (9,476) (2,900) (817)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 337,197 58,122 6,058 1,786
  Realized Gain (Loss) on Investments (220,488) (32,070) (2,993) 1,107
    Net Realized Capital Gains (Losses) on Investments 116,709 26,052 3,065 2,893
    Net Change in Unrealized Appreciation (Depreciation) 616,781 99,726 34,254 2,970
      Net Gain (Loss) on Investment 733,490 125,778 37,319 5,863
               
Net Increase (Decrease) in Net Assets Resulting from Operations 681,730 116,302 34,419 5,046
               
Increase (Decrease) in Net Assets from Contract Transactions (534,595) (85,531) (14,844) (6,479)
               
Total Increase (Decrease) in Net Assets 147,135 30,771 19,575 (1,433)
               
Net Assets as of December 31, 2024: $                                            3,521,044 $                                                 586,702 $                                                 249,285 $                                                    48,583
               
Investment Income:        
  Reinvested Dividends 18,148 1,957 257 108
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 50,277 9,559 3,267 774
    Net Investment Income (Loss) (32,129) (7,602) (3,010) (666)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 207,568 39,268 24,611 4,797
  Realized Gain (Loss) on Investments (153,414) (10,096) (509) 1,006
    Net Realized Capital Gains (Losses) on Investments 54,154 29,172 24,102 5,803
    Net Change in Unrealized Appreciation (Depreciation) 428,283 58,027 (3,087) (2,006)
      Net Gain (Loss) on Investment 482,437 87,199 21,015 3,797
               
Net Increase (Decrease) in Net Assets Resulting from Operations 450,308 79,597 18,005 3,131
               
Increase (Decrease) in Net Assets from Contract Transactions (320,186) (26,132) (19,150) (4,501)
               
Total Increase (Decrease) in Net Assets 130,122 53,465 (1,145) (1,370)
               
Net Assets as of December 31, 2025: $                                            3,651,166 $                                                 640,167 $                                                 248,140 $                                                    47,213
 
See Accompanying Notes
(1)See Footnote 1
 
37
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Janus Henderson - Balanced Service Shares Janus Henderson - Enterprise Service Shares Janus Henderson - Forty Service Shares Janus Henderson - Global Research Service Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            2,812,541 $                                            1,339,930 $                                                 212,630 $                                            1,286,071
               
Investment Income:        
  Reinvested Dividends 50,666 8,890 26 8,574
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 40,317 21,007 3,208 23,297
    Net Investment Income (Loss) 10,349 (12,117) (3,182) (14,723)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 62,155 15,594 47,349
  Realized Gain (Loss) on Investments 209,740 41,421 16,226 60,693
    Net Realized Capital Gains (Losses) on Investments 209,740 103,576 31,820 108,042
    Net Change in Unrealized Appreciation (Depreciation) 144,708 88,020 25,464 176,142
      Net Gain (Loss) on Investment 354,448 191,596 57,284 284,184
               
Net Increase (Decrease) in Net Assets Resulting from Operations 364,797 179,479 54,102 269,461
               
Increase (Decrease) in Net Assets from Contract Transactions (403,711) (85,524) (41,282) (88,467)
               
Total Increase (Decrease) in Net Assets (38,914) 93,955 12,820 180,994
               
Net Assets as of December 31, 2024: $                                            2,773,627 $                                            1,433,885 $                                                 225,450 $                                            1,467,065
               
Investment Income:        
  Reinvested Dividends 48,346 2,442 616 9,007
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 39,378 20,444 3,316 24,706
    Net Investment Income (Loss) 8,968 (18,002) (2,700) (15,699)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 87,167 116,300 31,566 135,158
  Realized Gain (Loss) on Investments 108,036 63,023 5,015 98,928
    Net Realized Capital Gains (Losses) on Investments 195,203 179,323 36,581 234,086
    Net Change in Unrealized Appreciation (Depreciation) 147,762 (81,910) 2,852 43,335
      Net Gain (Loss) on Investment 342,965 97,413 39,433 277,421
               
Net Increase (Decrease) in Net Assets Resulting from Operations 351,933 79,411 36,733 261,722
               
Increase (Decrease) in Net Assets from Contract Transactions (173,122) (279,963) (9,321) (115,189)
               
Total Increase (Decrease) in Net Assets 178,811 (200,552) 27,412 146,533
               
Net Assets as of December 31, 2025: $                                            2,952,438 $                                            1,233,333 $                                                 252,862 $                                            1,613,598
 
See Accompanying Notes
(1)See Footnote 1
 
38
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Janus Henderson - Mid Cap Value Service Shares Janus Henderson - Overseas Service Shares Janus Henderson - Research Service Shares LVIP JPMorgan Core Bond Standard Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 109,730 $                                            1,012,432 $                                                 811,484 $                                            2,068,784
               
Investment Income:        
  Reinvested Dividends 988 13,558 - 81,627
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,200 14,644 13,191 39,983
    Net Investment Income (Loss) (1,212) (1,086) (13,191) 41,644
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 6,236 - 28,683 -
  Realized Gain (Loss) on Investments 581 19,343 52,214 1,908
    Net Realized Capital Gains (Losses) on Investments 6,817 19,343 80,897 1,908
    Net Change in Unrealized Appreciation (Depreciation) 6,119 25,654 195,978 (48,605)
      Net Gain (Loss) on Investment 12,936 44,997 276,875 (46,697)
               
Net Increase (Decrease) in Net Assets Resulting from Operations 11,724 43,911 263,684 (5,053)
               
Increase (Decrease) in Net Assets from Contract Transactions (1,428) (145,460) (121,318) (241,747)
               
Total Increase (Decrease) in Net Assets 10,296 (101,549) 142,366 (246,800)
               
Net Assets as of December 31, 2024: $                                                 120,026 $                                                 910,883 $                                                 953,850 $                                            1,821,984
               
Investment Income:        
  Reinvested Dividends 1,718 13,043 1,245 59,643
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 2,224 13,786 13,317 35,613
    Net Investment Income (Loss) (506) (743) (12,072) 24,030
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 11,018 - 76,571 -
  Realized Gain (Loss) on Investments 437 40,235 70,555 3,609
    Net Realized Capital Gains (Losses) on Investments 11,455 40,235 147,126 3,609
    Net Change in Unrealized Appreciation (Depreciation) (5,799) 194,845 14,147 63,381
      Net Gain (Loss) on Investment 5,656 235,080 161,273 66,990
               
Net Increase (Decrease) in Net Assets Resulting from Operations 5,150 234,337 149,201 91,020
               
Increase (Decrease) in Net Assets from Contract Transactions (1,347) (144,339) (135,426) (245,859)
               
Total Increase (Decrease) in Net Assets 3,803 89,998 13,775 (154,839)
               
Net Assets as of December 31, 2025: $                                                 123,829 $                                            1,000,881 $                                                 967,625 $                                            1,667,145
 
See Accompanying Notes
(1)See Footnote 1
 
39
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        LVIP JPMorgan Mid Cap Value Standard Shares LVIP JPMorgan U.S. Equity Standard Shares MFS® Core Equity Initial Class MFS® Growth Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 963,827 $                                            1,638,273 $                                                    31,356 $                                            4,369,992
               
Investment Income:        
  Reinvested Dividends 10,712 7,223 200 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 19,263 32,319 437 75,423
    Net Investment Income (Loss) (8,551) (25,096) (237) (75,423)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 143,132 64,189 1,453 376,324
  Realized Gain (Loss) on Investments 33,787 154,120 752 315,580
    Net Realized Capital Gains (Losses) on Investments 176,919 218,309 2,205 691,904
    Net Change in Unrealized Appreciation (Depreciation) (58,897) 117,603 3,688 620,705
      Net Gain (Loss) on Investment 118,022 335,912 5,893 1,312,609
               
Net Increase (Decrease) in Net Assets Resulting from Operations 109,471 310,816 5,656 1,237,186
               
Increase (Decrease) in Net Assets from Contract Transactions (208,210) (521,735) (2,475) (552,618)
               
Total Increase (Decrease) in Net Assets (98,739) (210,919) 3,181 684,568
               
Net Assets as of December 31, 2024: $                                                 865,088 $                                            1,427,354 $                                                    34,537 $                                            5,054,560
               
Investment Income:        
  Reinvested Dividends 8,801 5,935 159 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 16,534 27,945 452 71,347
    Net Investment Income (Loss) (7,733) (22,010) (293) (71,347)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 85,930 38,201 3,549 823,933
  Realized Gain (Loss) on Investments 4,269 97,161 710 380,226
    Net Realized Capital Gains (Losses) on Investments 90,199 135,362 4,259 1,204,159
    Net Change in Unrealized Appreciation (Depreciation) (60,238) 49,108 (282) (705,178)
      Net Gain (Loss) on Investment 29,961 184,470 3,977 498,981
               
Net Increase (Decrease) in Net Assets Resulting from Operations 22,228 162,460 3,684 427,634
               
Increase (Decrease) in Net Assets from Contract Transactions (100,783) (245,854) (2,309) (956,116)
               
Total Increase (Decrease) in Net Assets (78,555) (83,394) 1,375 (528,482)
               
Net Assets as of December 31, 2025: $                                                 786,533 $                                            1,343,960 $                                                    35,912 $                                            4,526,078
 
See Accompanying Notes
(1)See Footnote 1
 
40
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        MFS® Growth Service Class MFS® Massachusetts Investors Growth Stock Initial Class MFS® Massachusetts Investors Growth Stock Service Class MFS® New Discovery Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            1,121,680 $                                                    61,095 $                                            1,180,406 $                                                 322,661
               
Investment Income:        
  Reinvested Dividends - 222 1,541 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 16,923 851 15,770 4,241
    Net Investment Income (Loss) (16,923) (629) (14,229) (4,241)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 104,112 5,560 107,225 -
  Realized Gain (Loss) on Investments 74,150 2,228 40,974 (19,212)
    Net Realized Capital Gains (Losses) on Investments 178,262 7,788 148,199 (19,212)
    Net Change in Unrealized Appreciation (Depreciation) 157,291 1,566 29,180 40,250
      Net Gain (Loss) on Investment 335,553 9,354 177,379 21,038
               
Net Increase (Decrease) in Net Assets Resulting from Operations 318,630 8,725 163,150 16,797
               
Increase (Decrease) in Net Assets from Contract Transactions (135,881) (5,258) (146,899) (30,497)
               
Total Increase (Decrease) in Net Assets 182,749 3,467 16,251 (13,700)
               
Net Assets as of December 31, 2024: $                                            1,304,429 $                                                    64,562 $                                            1,196,657 $                                                 308,961
               
Investment Income:        
  Reinvested Dividends - 171 200 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 17,586 835 14,971 3,956
    Net Investment Income (Loss) (17,586) (664) (14,771) (3,956)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 264,292 9,008 173,090 -
  Realized Gain (Loss) on Investments 27,504 2,480 13,768 (16,111)
    Net Realized Capital Gains (Losses) on Investments 291,796 11,488 186,858 (16,111)
    Net Change in Unrealized Appreciation (Depreciation) (140,842) (5,699) (79,705) 54,478
      Net Gain (Loss) on Investment 150,954 5,789 107,153 38,367
               
Net Increase (Decrease) in Net Assets Resulting from Operations 133,368 5,125 92,382 34,411
               
Increase (Decrease) in Net Assets from Contract Transactions (37,332) (7,103) (102,322) (34,110)
               
Total Increase (Decrease) in Net Assets 96,036 (1,978) (9,940) 301
               
Net Assets as of December 31, 2025: $                                            1,400,465 $                                                    62,584 $                                            1,186,717 $                                                 309,262
 
See Accompanying Notes
(1)See Footnote 1
 
41
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        MFS® New Discovery Service Class MFS® Research Initial Class MFS® Research Service Class MFS® Total Return Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 352,595 $                                            1,525,586 $                                            1,017,632 $                                            5,442,973
               
Investment Income:        
  Reinvested Dividends - 9,359 4,117 127,736
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 5,029 22,745 15,770 74,509
    Net Investment Income (Loss) (5,029) (13,386) (11,653) 53,227
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 89,986 64,365 247,286
  Realized Gain (Loss) on Investments (22,499) 39,601 19,701 145,004
    Net Realized Capital Gains (Losses) on Investments (22,499) 129,587 84,066 392,290
    Net Change in Unrealized Appreciation (Depreciation) 44,629 131,297 94,519 (120,768)
      Net Gain (Loss) on Investment 22,130 260,884 178,585 271,522
               
Net Increase (Decrease) in Net Assets Resulting from Operations 17,101 247,498 166,932 324,749
               
Increase (Decrease) in Net Assets from Contract Transactions (46,269) (162,941) (70,987) (729,624)
               
Total Increase (Decrease) in Net Assets (29,168) 84,557 95,945 (404,875)
               
Net Assets as of December 31, 2024: $                                                 323,427 $                                            1,610,143 $                                            1,113,577 $                                            5,038,098
               
Investment Income:        
  Reinvested Dividends - 14,872 1,614 132,890
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 4,787 22,643 15,106 68,852
    Net Investment Income (Loss) (4,787) (7,771) (13,492) 64,038
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 364,444 251,216 354,355
  Realized Gain (Loss) on Investments (11,006) 62,348 34,907 44,448
    Net Realized Capital Gains (Losses) on Investments (11,006) 426,792 286,123 398,803
    Net Change in Unrealized Appreciation (Depreciation) 49,158 (248,428) (160,414) (13,815)
      Net Gain (Loss) on Investment 38,152 178,364 125,709 384,988
               
Net Increase (Decrease) in Net Assets Resulting from Operations 33,365 170,593 112,217 449,026
               
Increase (Decrease) in Net Assets from Contract Transactions (24,174) (171,132) (134,034) (637,149)
               
Total Increase (Decrease) in Net Assets 9,191 (539) (21,817) (188,123)
               
Net Assets as of December 31, 2025: $                                                 332,618 $                                            1,609,604 $                                            1,091,760 $                                            4,849,975
 
See Accompanying Notes
(1)See Footnote 1
 
42
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        MFS® Total Return Service Class MFS® Total Return Bond Initial Class MFS® Total Return Bond Service Class MFS® Utilities Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            2,178,390 $                                                 131,807 $                                                 853,259 $                                            4,292,583
               
Investment Income:        
  Reinvested Dividends 42,664 5,484 34,064 98,789
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 29,585 1,736 10,052 60,148
    Net Investment Income (Loss) 13,079 3,748 24,012 38,641
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 91,513 - - 121,906
  Realized Gain (Loss) on Investments 24,038 (2,493) (11,439) 81,865
    Net Realized Capital Gains (Losses) on Investments 115,551 (2,493) (11,439) 203,771
    Net Change in Unrealized Appreciation (Depreciation) (18,944) 300 (2,786) 177,720
      Net Gain (Loss) on Investment 96,607 (2,193) (14,225) 381,491
               
Net Increase (Decrease) in Net Assets Resulting from Operations 109,686 1,555 9,787 420,132
               
Increase (Decrease) in Net Assets from Contract Transactions (500,236) (14,784) (38,240) (421,026)
               
Total Increase (Decrease) in Net Assets (390,550) (13,229) (28,453) (894)
               
Net Assets as of December 31, 2024: $                                            1,787,840 $                                                 118,578 $                                                 824,806 $                                            4,291,689
               
Investment Income:        
  Reinvested Dividends 44,940 5,257 33,716 122,312
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 26,996 1,600 9,470 58,648
    Net Investment Income (Loss) 17,944 3,657 24,246 63,664
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 132,215 - - 55,937
  Realized Gain (Loss) on Investments 3,729 (1,615) (20,674) 129,750
    Net Realized Capital Gains (Losses) on Investments 135,944 (1,615) (20,674) 185,687
    Net Change in Unrealized Appreciation (Depreciation) 3,655 4,604 40,406 267,240
      Net Gain (Loss) on Investment 139,599 2,989 19,732 452,927
               
Net Increase (Decrease) in Net Assets Resulting from Operations 157,543 6,646 43,978 516,591
               
Increase (Decrease) in Net Assets from Contract Transactions (160,320) (9,598) (96,053) (671,207)
               
Total Increase (Decrease) in Net Assets (2,777) (2,952) (52,075) (154,616)
               
Net Assets as of December 31, 2025: $                                            1,785,063 $                                                 115,626 $                                                 772,731 $                                            4,137,073
 
See Accompanying Notes
(1)See Footnote 1
 
43
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        MFS® Utilities Service Class Putnam VT Core Equity Class IB Shares Putnam VT Diversified Income Class IB Shares Putnam VT Focused International Equity Class IB Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 735,373 $                                                           283 $                                                 210,135 $                                                 838,551
               
Investment Income:        
  Reinvested Dividends 15,373 2 12,773 13,751
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 10,871 4 3,192 12,232
    Net Investment Income (Loss) 4,502 (2) 9,581 1,519
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 21,404 17 - -
  Realized Gain (Loss) on Investments 11,861 1 (5,639) 10,984
    Net Realized Capital Gains (Losses) on Investments 33,265 18 (5,639) 10,984
    Net Change in Unrealized Appreciation (Depreciation) 31,743 52 4,742 2,858
      Net Gain (Loss) on Investment 65,008 70 (897) 13,842
               
Net Increase (Decrease) in Net Assets Resulting from Operations 69,510 68 8,684 15,361
               
Increase (Decrease) in Net Assets from Contract Transactions (9,336) 2 (8,347) (47,564)
               
Total Increase (Decrease) in Net Assets 60,174 70 337 (32,203)
               
Net Assets as of December 31, 2024: $                                                 795,547 $                                                           353 $                                                 210,472 $                                                 806,348
               
Investment Income:        
  Reinvested Dividends 21,807 1 12,265 29,303
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 11,186 4 3,027 13,322
    Net Investment Income (Loss) 10,621 (3) 9,238 15,981
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 10,875 30 - -
  Realized Gain (Loss) on Investments 22,855 2 (9,086) 11,454
    Net Realized Capital Gains (Losses) on Investments 33,730 32 (9,086) 11,454
    Net Change in Unrealized Appreciation (Depreciation) 52,602 23 13,467 244,168
      Net Gain (Loss) on Investment 86,332 55 4,381 255,622
               
Net Increase (Decrease) in Net Assets Resulting from Operations 96,953 52 13,619 271,603
               
Increase (Decrease) in Net Assets from Contract Transactions (96,664) (1) (21,086) (37,030)
               
Total Increase (Decrease) in Net Assets 289 51 (7,467) 234,573
               
Net Assets as of December 31, 2025: $                                                 795,836 $                                                           404 $                                                 203,005 $                                            1,040,921
 
See Accompanying Notes
(1)See Footnote 1
 
44
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Putnam VT George Putnam Balanced Class IB Shares Putnam VT Global Health Care Class IB Shares Putnam VT Government Money Market Class IB Shares Putnam VT Income Class IB Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 718,822 $                                                 181,501 $                                            1,927,227 $                                                 139,479
               
Investment Income:        
  Reinvested Dividends 8,891 1,034 94,220 7,582
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 11,110 3,573 31,420 1,768
    Net Investment Income (Loss) (2,219) (2,539) 62,800 5,814
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 9,519 - -
  Realized Gain (Loss) on Investments 13,772 1,808 - (767)
    Net Realized Capital Gains (Losses) on Investments 13,772 11,327 - (767)
    Net Change in Unrealized Appreciation (Depreciation) 96,524 (9,181) - (3,593)
      Net Gain (Loss) on Investment 110,296 2,146 - (4,360)
               
Net Increase (Decrease) in Net Assets Resulting from Operations 108,077 (393) 62,800 1,454
               
Increase (Decrease) in Net Assets from Contract Transactions (23,344) 13,058 151,754 (8)
               
Total Increase (Decrease) in Net Assets 84,733 12,665 214,554 1,446
               
Net Assets as of December 31, 2024: $                                                 803,555 $                                                 194,166 $                                            2,141,781 $                                                 140,925
               
Investment Income:        
  Reinvested Dividends 11,608 - 79,898 6,903
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 11,535 2,465 33,176 1,820
    Net Investment Income (Loss) 73 (2,465) 46,722 5,083
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 30,160 9,269 - -
  Realized Gain (Loss) on Investments 24,505 3,416 - (798)
    Net Realized Capital Gains (Losses) on Investments 54,665 12,685 - (798)
    Net Change in Unrealized Appreciation (Depreciation) 41,232 10,891 - 4,057
      Net Gain (Loss) on Investment 95,897 23,576 - 3,259
               
Net Increase (Decrease) in Net Assets Resulting from Operations 95,970 21,111 46,722 8,342
               
Increase (Decrease) in Net Assets from Contract Transactions (46,847) (65,720) 504,901 (3)
               
Total Increase (Decrease) in Net Assets 49,123 (44,609) 551,623 8,339
               
Net Assets as of December 31, 2025: $                                                 852,678 $                                                 149,557 $                                            2,693,404 $                                                 149,264
 
See Accompanying Notes
(1)See Footnote 1
 
45
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Putnam VT International Equity Class IB Shares Putnam VT Large Cap Growth Class IB Shares Putnam VT Large Cap Value Class IB Shares Putnam VT Research Class IB Shares
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                    57,853 $                                                 828,647 $                                            2,932,624 $                                                 181,804
               
Investment Income:        
  Reinvested Dividends 1,273 - 35,774 799
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 774 12,647 45,985 3,126
    Net Investment Income (Loss) 499 (12,647) (10,211) (2,327)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 40,232 145,610 1,269
  Realized Gain (Loss) on Investments 3,305 110,157 59,216 1,974
    Net Realized Capital Gains (Losses) on Investments 3,305 150,389 204,826 3,243
    Net Change in Unrealized Appreciation (Depreciation) (2,427) 103,871 312,776 43,329
      Net Gain (Loss) on Investment 878 254,260 517,602 46,572
               
Net Increase (Decrease) in Net Assets Resulting from Operations 1,377 241,613 507,391 44,245
               
Increase (Decrease) in Net Assets from Contract Transactions (15,394) (277,108) (125,101) (872)
               
Total Increase (Decrease) in Net Assets (14,017) (35,495) 382,290 43,373
               
Net Assets as of December 31, 2024: $                                                    43,836 $                                                 793,152 $                                            3,314,914 $                                                 225,177
               
Investment Income:        
  Reinvested Dividends 6 - 47,486 1,320
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 691 11,940 46,705 3,498
    Net Investment Income (Loss) (685) (11,940) 781 (2,178)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 3,109 74,163 227,148 14,124
  Realized Gain (Loss) on Investments 2,418 20,345 133,293 2,179
    Net Realized Capital Gains (Losses) on Investments 5,527 94,508 360,441 16,303
    Net Change in Unrealized Appreciation (Depreciation) 10,374 15,549 219,398 21,947
      Net Gain (Loss) on Investment 15,901 110,057 579,839 38,250
               
Net Increase (Decrease) in Net Assets Resulting from Operations 15,216 98,117 580,620 36,072
               
Increase (Decrease) in Net Assets from Contract Transactions (7,488) (47,420) (381,211) (921)
               
Total Increase (Decrease) in Net Assets 7,728 50,697 199,409 35,151
               
Net Assets as of December 31, 2025: $                                                    51,564 $                                                 843,849 $                                            3,514,323 $                                                 260,328
 
See Accompanying Notes
(1)See Footnote 1
 
46
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        Putnam VT Sustainable Leaders Class IB Shares TA Aegon Bond Initial Class TA Aegon Bond Service Class TA Aegon Core Bond Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                       9,462 $                                            6,441,837 $                                            2,742,477 $                                            1,438,383
               
Investment Income:        
  Reinvested Dividends 20 244,325 104,256 73,201
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 131 95,060 28,006 21,658
    Net Investment Income (Loss) (111) 149,265 76,250 51,543
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 65 - - -
  Realized Gain (Loss) on Investments 344 (175,329) (68,145) (41,134)
    Net Realized Capital Gains (Losses) on Investments 409 (175,329) (68,145) (41,134)
    Net Change in Unrealized Appreciation (Depreciation) 1,679 53,728 10,898 (17,648)
      Net Gain (Loss) on Investment 2,088 (121,601) (57,247) (58,782)
               
Net Increase (Decrease) in Net Assets Resulting from Operations 1,977 27,664 19,003 (7,239)
               
Increase (Decrease) in Net Assets from Contract Transactions (863) (713,366) (165,979) (29,300)
               
Total Increase (Decrease) in Net Assets 1,114 (685,702) (146,976) (36,539)
               
Net Assets as of December 31, 2024: $                                                    10,576 $                                            5,756,135 $                                            2,595,501 $                                            1,401,844
               
Investment Income:        
  Reinvested Dividends 63 394,218 161,369 36,717
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 96 95,760 26,925 21,795
    Net Investment Income (Loss) (33) 298,458 134,444 14,922
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,113 - - -
  Realized Gain (Loss) on Investments 1,985 (103,583) (88,920) (31,228)
    Net Realized Capital Gains (Losses) on Investments 3,098 (103,583) (88,920) (31,228)
    Net Change in Unrealized Appreciation (Depreciation) (2,490) 119,289 95,658 89,479
      Net Gain (Loss) on Investment 608 15,706 6,738 58,251
               
Net Increase (Decrease) in Net Assets Resulting from Operations 575 314,164 141,182 73,173
               
Increase (Decrease) in Net Assets from Contract Transactions (9,291) (61,407) (147,907) (88,841)
               
Total Increase (Decrease) in Net Assets (8,716) 252,757 (6,725) (15,668)
               
Net Assets as of December 31, 2025: $                                                       1,860 $                                            6,008,892 $                                            2,588,776 $                                            1,386,176
 
See Accompanying Notes
(1)See Footnote 1
 
47
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA Aegon High Yield Bond Initial Class TA Aegon High Yield Bond Service Class TA Aegon Sustainable Equity Income Initial Class TA Aegon Sustainable Equity Income Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            2,746,659 $                                                 286,849 $                                         10,492,913 $                                            1,633,820
               
Investment Income:        
  Reinvested Dividends 131,772 12,793 223,182 30,897
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 47,422 2,777 178,352 17,347
    Net Investment Income (Loss) 84,350 10,016 44,830 13,550
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (54,837) (4,000) 169,443 11,920
    Net Realized Capital Gains (Losses) on Investments (54,837) (4,000) 169,443 11,920
    Net Change in Unrealized Appreciation (Depreciation) 110,787 10,166 1,319,198 212,979
      Net Gain (Loss) on Investment 55,950 6,166 1,488,641 224,899
               
Net Increase (Decrease) in Net Assets Resulting from Operations 140,300 16,182 1,533,471 238,449
               
Increase (Decrease) in Net Assets from Contract Transactions (411,026) (26,765) (1,410,137) (148,078)
               
Total Increase (Decrease) in Net Assets (270,726) (10,583) 123,334 90,371
               
Net Assets as of December 31, 2024: $                                            2,475,933 $                                                 276,266 $                                         10,616,247 $                                            1,724,191
               
Investment Income:        
  Reinvested Dividends 155,879 18,479 184,203 25,465
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 41,542 2,803 173,453 17,595
    Net Investment Income (Loss) 114,337 15,676 10,750 7,870
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 105,211 17,190
  Realized Gain (Loss) on Investments (44,470) (1,123) 84,115 11,589
    Net Realized Capital Gains (Losses) on Investments (44,470) (1,123) 189,326 28,779
    Net Change in Unrealized Appreciation (Depreciation) 75,364 5,055 770,873 115,458
      Net Gain (Loss) on Investment 30,894 3,932 960,199 144,237
               
Net Increase (Decrease) in Net Assets Resulting from Operations 145,231 19,608 970,949 152,107
               
Increase (Decrease) in Net Assets from Contract Transactions (419,304) (4,999) (987,272) (127,360)
               
Total Increase (Decrease) in Net Assets (274,073) 14,609 (16,323) 24,747
               
Net Assets as of December 31, 2025: $                                            2,201,860 $                                                 290,875 $                                         10,599,924 $                                            1,748,938
 
See Accompanying Notes
(1)See Footnote 1
 
48
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA Aegon U.S. Government Securities Initial Class TA Aegon U.S. Government Securities Service Class TA BlackRock Government Money Market Initial Class TA BlackRock Government Money Market Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            2,159,594 $                                            2,351,342 $                                            6,442,315 $                                            4,043,324
               
Investment Income:        
  Reinvested Dividends 71,331 52,878 326,811 168,255
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 42,451 21,297 138,651 41,847
    Net Investment Income (Loss) 28,880 31,581 188,160 126,408
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (50,519) (46,410) - -
    Net Realized Capital Gains (Losses) on Investments (50,519) (46,410) - -
    Net Change in Unrealized Appreciation (Depreciation) (14,758) (1,555) - -
      Net Gain (Loss) on Investment (65,277) (47,965) - -
               
Net Increase (Decrease) in Net Assets Resulting from Operations (36,397) (16,384) 188,160 126,408
               
Increase (Decrease) in Net Assets from Contract Transactions (213,844) (883,108) (383,131) (829,627)
               
Total Increase (Decrease) in Net Assets (250,241) (899,492) (194,971) (703,219)
               
Net Assets as of December 31, 2024: $                                            1,909,353 $                                            1,451,850 $                                            6,247,344 $                                            3,340,105
               
Investment Income:        
  Reinvested Dividends 87,652 50,513 248,264 120,237
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 43,822 16,671 131,041 37,665
    Net Investment Income (Loss) 43,830 33,842 117,223 82,572
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (53,998) (19,673) - -
    Net Realized Capital Gains (Losses) on Investments (53,998) (19,673) - -
    Net Change in Unrealized Appreciation (Depreciation) 83,392 47,504 - -
      Net Gain (Loss) on Investment 29,394 27,831 - -
               
Net Increase (Decrease) in Net Assets Resulting from Operations 73,224 61,673 117,223 82,572
               
Increase (Decrease) in Net Assets from Contract Transactions 195,094 (277,041) (267,626) (333,793)
               
Total Increase (Decrease) in Net Assets 268,318 (215,368) (150,403) (251,221)
               
Net Assets as of December 31, 2025: $                                            2,177,671 $                                            1,236,482 $                                            6,096,941 $                                            3,088,884
 
See Accompanying Notes
(1)See Footnote 1
 
49
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA BlackRock iShares Edge 40 Initial Class TA BlackRock iShares Edge 40 Service Class TA BlackRock Real Estate Securities Initial Class TA BlackRock Real Estate Securities Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            1,161,426 $                                                 316,220 $                                                 295,587 $                                                 201,507
               
Investment Income:        
  Reinvested Dividends 30,414 7,558 6,189 3,479
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 19,811 3,334 4,791 1,770
    Net Investment Income (Loss) 10,603 4,224 1,398 1,709
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 16,964 4,678 - -
  Realized Gain (Loss) on Investments (12,793) (8,075) (7,682) (6,395)
    Net Realized Capital Gains (Losses) on Investments 4,171 (3,397) (7,682) (6,395)
    Net Change in Unrealized Appreciation (Depreciation) 39,866 16,372 5,479 4,996
      Net Gain (Loss) on Investment 44,037 12,975 (2,203) (1,399)
               
Net Increase (Decrease) in Net Assets Resulting from Operations 54,640 17,199 (805) 310
               
Increase (Decrease) in Net Assets from Contract Transactions (114,086) (94,514) (32,645) (10,707)
               
Total Increase (Decrease) in Net Assets (59,446) (77,315) (33,450) (10,397)
               
Net Assets as of December 31, 2024: $                                            1,101,980 $                                                 238,905 $                                                 262,137 $                                                 191,110
               
Investment Income:        
  Reinvested Dividends 25,251 7,131 4,821 2,776
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 15,352 2,678 4,386 1,757
    Net Investment Income (Loss) 9,899 4,453 435 1,019
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 29,308 9,104 - -
  Realized Gain (Loss) on Investments (20,172) (1,857) (3,147) (5,748)
    Net Realized Capital Gains (Losses) on Investments 9,136 7,247 (3,147) (5,748)
    Net Change in Unrealized Appreciation (Depreciation) 62,337 13,195 22,347 18,492
      Net Gain (Loss) on Investment 71,473 20,442 19,200 12,744
               
Net Increase (Decrease) in Net Assets Resulting from Operations 81,372 24,895 19,635 13,763
               
Increase (Decrease) in Net Assets from Contract Transactions (361,649) (6,510) (12,009) (4,359)
               
Total Increase (Decrease) in Net Assets (280,277) 18,385 7,626 9,404
               
Net Assets as of December 31, 2025: $                                                 821,703 $                                                 257,290 $                                                 269,763 $                                                 200,514
 
See Accompanying Notes
(1)See Footnote 1
 
50
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA International Focus Initial Class TA International Focus Service Class TA Janus Mid-Cap Growth Initial Class TA Janus Mid-Cap Growth Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 902,202 $                                                 747,702 $                                            8,334,812 $                                                 464,567
               
Investment Income:        
  Reinvested Dividends 18,160 15,738 11,599 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 15,100 6,412 130,579 5,317
    Net Investment Income (Loss) 3,060 9,326 (118,980) (5,317)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 25,007 24,244 518,715 31,137
  Realized Gain (Loss) on Investments (739) 4,082 111,139 (359)
    Net Realized Capital Gains (Losses) on Investments 24,268 28,326 629,854 30,778
    Net Change in Unrealized Appreciation (Depreciation) (39,769) (51,208) 534,109 33,014
      Net Gain (Loss) on Investment (15,501) (22,882) 1,163,963 63,792
               
Net Increase (Decrease) in Net Assets Resulting from Operations (12,441) (13,556) 1,044,983 58,475
               
Increase (Decrease) in Net Assets from Contract Transactions (180,452) (40,175) (542,068) (30,760)
               
Total Increase (Decrease) in Net Assets (192,893) (53,731) 502,915 27,715
               
Net Assets as of December 31, 2024: $                                                 709,309 $                                                 693,971 $                                            8,837,727 $                                                 492,282
               
Investment Income:        
  Reinvested Dividends 12,618 11,437 716 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 13,354 6,421 122,615 5,142
    Net Investment Income (Loss) (736) 5,016 (121,899) (5,142)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 74,688 80,061 935,665 63,162
  Realized Gain (Loss) on Investments 10,638 (2,435) 107,515 (25,152)
    Net Realized Capital Gains (Losses) on Investments 85,326 77,626 1,043,180 38,010
    Net Change in Unrealized Appreciation (Depreciation) (52,499) (48,339) (441,152) (6,333)
      Net Gain (Loss) on Investment 32,827 29,287 602,028 31,677
               
Net Increase (Decrease) in Net Assets Resulting from Operations 32,091 34,303 480,129 26,535
               
Increase (Decrease) in Net Assets from Contract Transactions (40,163) 15,390 (1,080,679) (151,075)
               
Total Increase (Decrease) in Net Assets (8,072) 49,693 (600,550) (124,540)
               
Net Assets as of December 31, 2025: $                                                 701,237 $                                                 743,664 $                                            8,237,177 $                                                 367,742
 
See Accompanying Notes
(1)See Footnote 1
 
51
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA JPMorgan Asset Allocation - Conservative Initial Class TA JPMorgan Asset Allocation - Conservative Service Class TA JPMorgan Asset Allocation - Moderate Initial Class TA JPMorgan Asset Allocation - Moderate Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            9,660,945 $                                         13,949,410 $                                         16,594,046 $                                         36,159,275
               
Investment Income:        
  Reinvested Dividends 188,648 232,620 257,192 483,763
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 148,955 159,638 269,805 421,131
    Net Investment Income (Loss) 39,693 72,982 (12,613) 62,632
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (259,682) (446,174) (98,138) (516,382)
    Net Realized Capital Gains (Losses) on Investments (259,682) (446,174) (98,138) (516,382)
    Net Change in Unrealized Appreciation (Depreciation) 597,360 940,521 1,122,587 2,668,672
      Net Gain (Loss) on Investment 337,678 494,347 1,024,449 2,152,290
               
Net Increase (Decrease) in Net Assets Resulting from Operations 377,371 567,329 1,011,836 2,214,922
               
Increase (Decrease) in Net Assets from Contract Transactions (1,259,702) (2,273,030) (1,945,270) (4,082,709)
               
Total Increase (Decrease) in Net Assets (882,331) (1,705,701) (933,434) (1,867,787)
               
Net Assets as of December 31, 2024: $                                            8,778,614 $                                         12,243,709 $                                         15,660,612 $                                         34,291,488
               
Investment Income:        
  Reinvested Dividends 356,171 437,167 499,536 1,008,640
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 147,239 142,173 252,324 391,922
    Net Investment Income (Loss) 208,932 294,994 247,212 616,718
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - - -
  Realized Gain (Loss) on Investments (173,131) (265,240) (81,751) (204,842)
    Net Realized Capital Gains (Losses) on Investments (173,131) (265,240) (81,751) (204,842)
    Net Change in Unrealized Appreciation (Depreciation) 705,433 983,990 1,280,722 2,769,502
      Net Gain (Loss) on Investment 532,302 718,750 1,198,971 2,564,660
               
Net Increase (Decrease) in Net Assets Resulting from Operations 741,234 1,013,744 1,446,183 3,181,378
               
Increase (Decrease) in Net Assets from Contract Transactions (469,272) (1,683,000) (654,825) (5,242,383)
               
Total Increase (Decrease) in Net Assets 271,962 (669,256) 791,358 (2,061,005)
               
Net Assets as of December 31, 2025: $                                            9,050,576 $                                         11,574,453 $                                         16,451,970 $                                         32,230,483
 
See Accompanying Notes
(1)See Footnote 1
 
52
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA JPMorgan Asset Allocation - Moderate Growth Initial Class TA JPMorgan Asset Allocation - Moderate Growth Service Class TA JPMorgan Diversified Equity Allocation Initial Class TA JPMorgan Diversified Equity Allocation Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                         25,888,100 $                                         82,272,943 $                                            7,334,962 $                                            8,125,097
               
Investment Income:        
  Reinvested Dividends 323,028 792,113 104,968 97,128
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 423,562 962,448 124,502 114,760
    Net Investment Income (Loss) (100,534) (170,335) (19,534) (17,632)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 146,387 161,980
  Realized Gain (Loss) on Investments (416,556) (2,122,901) (25,647) 3,871
    Net Realized Capital Gains (Losses) on Investments (416,556) (2,122,901) 120,740 165,851
    Net Change in Unrealized Appreciation (Depreciation) 2,861,614 9,704,236 943,001 1,014,885
      Net Gain (Loss) on Investment 2,445,058 7,581,335 1,063,741 1,180,736
               
Net Increase (Decrease) in Net Assets Resulting from Operations 2,344,524 7,411,000 1,044,207 1,163,104
               
Increase (Decrease) in Net Assets from Contract Transactions (2,210,189) (11,356,931) (576,076) (682,162)
               
Total Increase (Decrease) in Net Assets 134,335 (3,945,931) 468,131 480,942
               
Net Assets as of December 31, 2024: $                                         26,022,435 $                                         78,327,012 $                                            7,803,093 $                                            8,606,039
               
Investment Income:        
  Reinvested Dividends 690,451 1,837,528 102,717 106,317
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 409,149 882,662 119,038 110,687
    Net Investment Income (Loss) 281,302 954,866 (16,321) (4,370)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 195,366 243,099
  Realized Gain (Loss) on Investments (111,443) (1,281,296) 115,264 119,125
    Net Realized Capital Gains (Losses) on Investments (111,443) (1,281,296) 310,630 362,224
    Net Change in Unrealized Appreciation (Depreciation) 2,584,677 8,426,660 892,634 1,013,943
      Net Gain (Loss) on Investment 2,473,234 7,145,364 1,203,264 1,376,167
               
Net Increase (Decrease) in Net Assets Resulting from Operations 2,754,536 8,100,230 1,186,943 1,371,797
               
Increase (Decrease) in Net Assets from Contract Transactions (2,539,056) (11,424,254) (1,010,357) (1,859,151)
               
Total Increase (Decrease) in Net Assets 215,480 (3,324,024) 176,586 (487,354)
               
Net Assets as of December 31, 2025: $                                         26,237,915 $                                         75,002,988 $                                            7,979,679 $                                            8,118,685
 
See Accompanying Notes
(1)See Footnote 1
 
53
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA JPMorgan Enhanced Index Initial Class TA JPMorgan Enhanced Index Service Class TA JPMorgan International Moderate Growth Initial Class TA JPMorgan International Moderate Growth Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            3,456,144 $                                                 925,230 $                                                 325,972 $                                            5,635,339
               
Investment Income:        
  Reinvested Dividends 68,835 4,106 7,681 115,728
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 136,144 8,525 4,170 58,519
    Net Investment Income (Loss) (67,309) (4,419) 3,511 57,209
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 339,255 28,364 - -
  Realized Gain (Loss) on Investments 164,786 57,850 (246) 43,409
    Net Realized Capital Gains (Losses) on Investments 504,041 86,214 (246) 43,409
    Net Change in Unrealized Appreciation (Depreciation) 1,139,295 110,490 (80) (43,129)
      Net Gain (Loss) on Investment 1,643,336 196,704 (326) 280
               
Net Increase (Decrease) in Net Assets Resulting from Operations 1,576,027 192,285 3,185 57,489
               
Increase (Decrease) in Net Assets from Contract Transactions 5,499,868 (202,622) (97,427) (718,936)
               
Total Increase (Decrease) in Net Assets 7,075,895 (10,337) (94,242) (661,447)
               
Net Assets as of December 31, 2024: $                                         10,532,039 $                                                 914,893 $                                                 231,730 $                                            4,973,892
               
Investment Income:        
  Reinvested Dividends 74,408 4,512 8,448 153,506
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 170,159 7,979 3,571 53,060
    Net Investment Income (Loss) (95,751) (3,467) 4,877 100,446
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 1,246,868 110,166 - -
  Realized Gain (Loss) on Investments 218,990 78,605 254 36,759
    Net Realized Capital Gains (Losses) on Investments 1,465,858 188,771 254 36,759
    Net Change in Unrealized Appreciation (Depreciation) 104,418 (56,105) 32,341 620,929
      Net Gain (Loss) on Investment 1,570,276 132,666 32,595 657,688
               
Net Increase (Decrease) in Net Assets Resulting from Operations 1,474,525 129,199 37,472 758,134
               
Increase (Decrease) in Net Assets from Contract Transactions (906,215) (286,119) (8,165) (748,790)
               
Total Increase (Decrease) in Net Assets 568,310 (156,920) 29,307 9,344
               
Net Assets as of December 31, 2025: $                                         11,100,349 $                                                 757,973 $                                                 261,037 $                                            4,983,236
 
See Accompanying Notes
(1)See Footnote 1
 
54
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA JPMorgan Tactical Allocation Initial Class TA JPMorgan Tactical Allocation Service Class TA Multi-Managed Balanced Initial Class TA Multi-Managed Balanced Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 512,676 $                                                 536,404 $                                            2,751,817 $                                         18,552,729
               
Investment Income:        
  Reinvested Dividends 14,196 12,939 52,917 300,676
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 7,152 7,112 48,345 197,222
    Net Investment Income (Loss) 7,044 5,827 4,572 103,454
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 115,336 754,109
  Realized Gain (Loss) on Investments (4,199) (20,326) 70,307 611,849
    Net Realized Capital Gains (Losses) on Investments (4,199) (20,326) 185,643 1,365,958
    Net Change in Unrealized Appreciation (Depreciation) 11,227 32,564 143,886 787,407
      Net Gain (Loss) on Investment 7,028 12,238 329,529 2,153,365
               
Net Increase (Decrease) in Net Assets Resulting from Operations 14,072 18,065 334,101 2,256,819
               
Increase (Decrease) in Net Assets from Contract Transactions (39,197) (140,755) (377,553) (4,017,759)
               
Total Increase (Decrease) in Net Assets (25,125) (122,690) (43,452) (1,760,940)
               
Net Assets as of December 31, 2024: $                                                 487,551 $                                                 413,714 $                                            2,708,365 $                                         16,791,789
               
Investment Income:        
  Reinvested Dividends 15,144 11,313 53,324 301,234
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 6,338 5,063 44,436 180,989
    Net Investment Income (Loss) 8,806 6,250 8,888 120,245
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - - 315,809 2,055,268
  Realized Gain (Loss) on Investments (10,975) (8,537) 86,752 278,857
    Net Realized Capital Gains (Losses) on Investments (10,975) (8,537) 402,561 2,334,125
    Net Change in Unrealized Appreciation (Depreciation) 35,682 30,584 (143,041) (698,818)
      Net Gain (Loss) on Investment 24,707 22,047 259,520 1,635,307
               
Net Increase (Decrease) in Net Assets Resulting from Operations 33,513 28,297 268,408 1,755,552
               
Increase (Decrease) in Net Assets from Contract Transactions (69,720) (67,894) (623,799) (2,293,575)
               
Total Increase (Decrease) in Net Assets (36,207) (39,597) (355,391) (538,023)
               
Net Assets as of December 31, 2025: $                                                 451,344 $                                                 374,117 $                                            2,352,974 $                                         16,253,766
 
See Accompanying Notes
(1)See Footnote 1
 
55
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA Small/Mid Cap Value Initial Class TA T. Rowe Price Small Cap Initial Class TA T. Rowe Price Small Cap Service Class TA TSW International Equity Initial Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                            3,478,477 $                                            2,158,825 $                                                 701,569 $                                                 764,305
               
Investment Income:        
  Reinvested Dividends 32,655 - - 19,178
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 53,019 32,210 6,979 13,265
    Net Investment Income (Loss) (20,364) (32,210) (6,979) 5,913
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 109,281 64,379 30,325 -
  Realized Gain (Loss) on Investments 8,180 (130,364) (18,888) 11,293
    Net Realized Capital Gains (Losses) on Investments 117,461 (65,985) 11,437 11,293
    Net Change in Unrealized Appreciation (Depreciation) 152,145 318,290 74,302 (3,419)
      Net Gain (Loss) on Investment 269,606 252,305 85,739 7,874
               
Net Increase (Decrease) in Net Assets Resulting from Operations 249,242 220,095 78,760 13,787
               
Increase (Decrease) in Net Assets from Contract Transactions (417,234) (605,450) (40,251) (134,336)
               
Total Increase (Decrease) in Net Assets (167,992) (385,355) 38,509 (120,549)
               
Net Assets as of December 31, 2024: $                                            3,310,485 $                                            1,773,470 $                                                 740,078 $                                                 643,756
               
Investment Income:        
  Reinvested Dividends 40,639 - - 15,438
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 49,090 28,751 6,880 13,188
    Net Investment Income (Loss) (8,451) (28,751) (6,880) 2,250
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 340,425 279,211 136,241 33,250
  Realized Gain (Loss) on Investments 3,904 (16,333) (27,165) 11,109
    Net Realized Capital Gains (Losses) on Investments 344,329 262,878 109,076 44,359
    Net Change in Unrealized Appreciation (Depreciation) (81,074) (79,815) (37,425) 129,326
      Net Gain (Loss) on Investment 263,255 183,063 71,651 173,685
               
Net Increase (Decrease) in Net Assets Resulting from Operations 254,804 154,312 64,771 175,935
               
Increase (Decrease) in Net Assets from Contract Transactions (223,362) (159,094) (54,243) (104,527)
               
Total Increase (Decrease) in Net Assets 31,442 (4,782) 10,528 71,408
               
Net Assets as of December 31, 2025: $                                            3,341,927 $                                            1,768,688 $                                                 750,606 $                                                 715,164
 
See Accompanying Notes
(1)See Footnote 1
 
56
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Statements of Operations and Changes in Net Assets
Years Ended December 31, 2025 and 2024
 
        TA TSW International Equity Service Class TA TSW Mid Cap Value Opportunities Initial Class TA WMC US Growth Initial Class TA WMC US Growth Service Class
        Subaccount Subaccount Subaccount Subaccount
               
Net Assets as of December 31, 2023: $                                                 480,592 $                                            1,385,747 $                                         41,990,922 $                                            5,968,391
               
Investment Income:        
  Reinvested Dividends 11,515 18,080 5,114 -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 4,962 22,120 701,959 65,667
    Net Investment Income (Loss) 6,553 (4,040) (696,845) (65,667)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions - 201,539 4,164,701 552,653
  Realized Gain (Loss) on Investments 21,486 (43,221) 2,026,309 349,728
    Net Realized Capital Gains (Losses) on Investments 21,486 158,318 6,191,010 902,381
    Net Change in Unrealized Appreciation (Depreciation) (17,746) (63,249) 5,467,392 619,683
      Net Gain (Loss) on Investment 3,740 95,069 11,658,402 1,522,064
               
Net Increase (Decrease) in Net Assets Resulting from Operations 10,293 91,029 10,961,557 1,456,397
               
Increase (Decrease) in Net Assets from Contract Transactions (94,355) (239,307) (4,837,058) (1,305,377)
               
Total Increase (Decrease) in Net Assets (84,062) (148,278) 6,124,499 151,020
               
Net Assets as of December 31, 2024: $                                                 396,530 $                                            1,237,469 $                                         48,115,421 $                                            6,119,411
               
Investment Income:        
  Reinvested Dividends 9,340 15,384 - -
Investment Expense:        
  Mortality and Expense Risk and Administrative Charges 5,018 20,983 698,745 63,531
    Net Investment Income (Loss) 4,322 (5,599) (698,745) (63,531)
               
Increase (Decrease) in Net Assets from Operations:        
  Capital Gain Distributions 22,230 315,287 7,447,664 1,024,957
  Realized Gain (Loss) on Investments 20,340 (18,607) 2,438,716 150,640
    Net Realized Capital Gains (Losses) on Investments 42,570 296,680 9,886,380 1,175,597
    Net Change in Unrealized Appreciation (Depreciation) 67,319 (197,953) (2,502,345) (228,946)
      Net Gain (Loss) on Investment 109,889 98,727 7,384,035 946,651
               
Net Increase (Decrease) in Net Assets Resulting from Operations 114,211 93,128 6,685,290 883,120
               
Increase (Decrease) in Net Assets from Contract Transactions (73,806) (81,555) (6,515,411) (1,102,806)
               
Total Increase (Decrease) in Net Assets 40,405 11,573 169,879 (219,686)
               
Net Assets as of December 31, 2025: $                                                 436,935 $                                            1,249,042 $                                         48,285,300 $                                            5,899,725
 
See Accompanying Notes
(1)See Footnote 1
 
57
 
 
  Transamerica Life Insurance Company
  Retirement Builder Variable Annuity Account
  Notes to Financial Statements
  December 31, 2025
                               
                               
1.  Organization
                               
Retirement Builder Variable Annuity Account (the Separate Account) is a segregated investment account of Transamerica Life Insurance Company (TLIC), an indirect wholly owned subsidiary of Aegon Ltd., a holding company organized under the laws of the Bermuda.
The Separate Account is registered with the Securities and Exchange Commission as a Unit Investment Trust pursuant to provisions of the Investment Company Act of 1940.  TLIC and the Separate Account are regulated by the Securities and Exchange Commission.  The assets and liabilities of the Separate Account are clearly identified and distinguished from TLIC's other assets and liabilities.  The Separate Account consists of multiple investment subaccounts.  Each subaccount invests exclusively in the corresponding portfolio of a Mutual Fund.  Each Mutual Fund is registered as an open-end management investment company under the Investment Company Act of 1940, as amended.  Activity in these specified investment subaccounts is available to contract owners of The Atlas Portfolio Builder℠ Variable Annuity, Immediate Income Builder℠,  Immediate Income Builder℠ II, Transamerica Access℠ Variable Annuity, Retirement Income Builder® Variable Annuity, Retirement Income Builder II® Variable Annuity, Portfolio Select℠ Variable Annuity, Privilege Select℠ Variable Annuity,  Principal-Plus℠ Variable Annuity, Premier Asset Builder℠ Variable Annuity, Retirement Income Builder® - BAI Variable Annuity,  Transamerica Preferred Advantage℠ Variable Annuity, The One Income Annuity℠, Transamerica Principium℠ Variable Annuity, Huntington Allstar Select℠ Variable Annuity, Transamerica Opportunity Builder Variable Annuity and Transamerica Traditions Variable Annuity.
                               
Subaccount Investment by Mutual Fund:    
Subaccount         Mutual Fund        
  AB Variable Products Series Fund, Inc.   AB Variable Products Series Fund, Inc.
    AB Large Cap Growth Class B Shares       AB Large Cap Growth Portfolio Class B Shares  
    AB Relative Value Class B Shares         AB Relative Value Portfolio Class B Shares  
    AB Sustainable Global Thematic Growth Class B Shares   AB Sustainable Global Thematic Growth Portfolio Class B Shares
  Allspring Variable Trust         Allspring Variable Trust      
    Allspring VT Discovery All Cap Growth Class 1 Shares     Allspring VT Discovery All Cap Growth Fund Class 1 Shares
    Allspring VT Discovery All Cap Growth Class 2 Shares     Allspring VT Discovery All Cap Growth Fund Class 2 Shares
    Allspring VT Opportunity Class 1 Shares       Allspring VT Opportunity Fund Class 1 Shares  
    Allspring VT Opportunity Class 2 Shares       Allspring VT Opportunity Fund Class 2 Shares  
    Allspring VT Small Cap Growth Class 1 Shares     Allspring VT Small Cap Growth Fund Class 1 Shares
    Allspring VT Small Cap Growth Class 2 Shares     Allspring VT Small Cap Growth Fund Class 2 Shares
  BNY Mellon Funds         BNY Mellon Funds      
    BNY Mellon Small Cap Initial Shares       BNY Mellon Small Cap Portfolio Initial Shares  
    BNY Mellon Stock Index Initial Shares       BNY Mellon Stock Index Portfolio Initial Shares
    BNY Mellon Stock Index Service Shares       BNY Mellon Stock Index Portfolio Service Shares
    BNY Mellon Sustainable U.S. Equity Initial Shares     BNY Mellon Sustainable U.S. Equity Portfolio Initial Shares
    BNY Mellon VIF Appreciation Initial Shares       BNY Mellon VIF Appreciation Portfolio Initial Shares
    BNY Mellon VIF Government Money Market       BNY Mellon VIF Government Money Market Portfolio
    BNY Mellon VIF Growth and Income Initial Shares     BNY Mellon VIF Growth and Income Portfolio Initial Shares
  Columbia Funds Variable Insurance Trust     Columbia Funds Variable Insurance Trust  
    Columbia - Acorn           Columbia - Acorn Fund      
    Columbia - Dividend Opportunity Class 1 Shares     Columbia Variable Portfolio - Dividend Opportunity Fund Class 1 Shares
    Columbia - Income Opportunity Class 1 Shares     Columbia Variable Portfolio - Income Opportunity Fund Class 1 Shares
    Columbia - Large Cap Growth Class 1 Shares       Columbia Variable Portfolio - Large Cap Growth Fund Class 1 Shares
    Columbia - Overseas Core Class 2 Shares       Columbia Variable Portfolio - Overseas Core Fund Class 2 Shares
    Columbia - Select Mid Cap Growth Class 1 Shares     Columbia Variable Portfolio - Select Mid Cap Growth Fund Class 1 Shares
    Columbia - Select Mid Cap Value Class 1 Shares     Columbia Variable Portfolio - Select Mid Cap Value Fund Class 1 Shares
    Columbia - Small Cap Value Class 1 Shares       Columbia Variable Portfolio - Small Cap Value Fund Class 1 Shares
    Columbia - Small Company Growth Class 1 Shares     Columbia Variable Portfolio - Small Company Growth Fund Class 1 Shares
    Columbia - Strategic Income Class 1 Shares       Columbia Variable Portfolio - Strategic Income Fund Class 1 Shares
    CTIVP® - Principal Large Cap Growth Class 1 Shares     CTIVP® - Principal Large Cap Growth Fund Class 1 Shares
 
58
 
 
  Transamerica Life Insurance Company
  Retirement Builder Variable Annuity Account
  Notes to Financial Statements
  December 31, 2025
                               
                               
1.  Organization (continued)
                               
Subaccount Investment by Mutual Fund:    
Subaccount         Mutual Fund        
  Davis Variable Account Fund, Inc.       Davis Variable Account Fund, Inc.    
    Davis Equity           Davis Equity Portfolio      
  Federated Insurance Series       Federated Insurance Series    
    Federated Hermes Government Money II Service Shares   Federated Hermes Government Money Fund II Service Shares
    Federated Hermes High Income Bond II Primary Shares   Federated Hermes High Income Bond II Fund Primary Shares
    Federated Hermes Kaufmann II Primary Shares     Federated Hermes Kaufmann II Fund Primary Shares
    Federated Hermes Kaufmann II Service Shares     Federated Kaufmann II Fund Service Shares  
    Federated Hermes Managed Volatility II Primary Shares   Federated Hermes Managed Volatility II Fund Primary Shares
    Federated Hermes Managed Volatility II Service Shares   Federated Hermes Managed Volatility II Fund Service Shares
    Federated Hermes Quality Bond II Primary Shares     Federated Hermes Quality Bond II  Fund Primary Shares
  Fidelity® Variable Insurance Products Fund      Fidelity® Variable Insurance Products Fund   
    Fidelity® VIP Asset Manager 50% Initial Class     Fidelity® VIP Asset Manager 50% Portfolio Initial Class
    Fidelity® VIP Asset Manager 70% Initial Class     Fidelity® VIP Asset Manager 70% Portfolio Initial Class
    Fidelity® VIP Balanced Initial Class       Fidelity® VIP Balanced Portfolio Initial Class  
    Fidelity® VIP Balanced Service Class 2       Fidelity® VIP Balanced Portfolio Service Class 2
    Fidelity® VIP Contrafund® Initial Class       Fidelity® VIP Contrafund® Portfolio Initial Class
    Fidelity® VIP Contrafund® Service Class 2       Fidelity® VIP Contrafund® Portfolio Service Class 2
    Fidelity® VIP Equity-Income Initial Class       Fidelity® VIP Equity-Income Portfolio Initial Class
    Fidelity® VIP Equity-Income Service Class 2       Fidelity® VIP Equity-Income Portfolio Service Class 2
    Fidelity® VIP Government Money Market Initial Class     Fidelity® VIP Government Money Market Portfolio Initial Class
    Fidelity® VIP Government Money Market Service Class 2   Fidelity® VIP Government Money Market Portfolio Service Class 2
    Fidelity® VIP Growth Initial Class         Fidelity® VIP Growth Portfolio Initial Class  
    Fidelity® VIP Growth Service Class 2       Fidelity® VIP Growth Portfolio Service Class 2
    Fidelity® VIP Growth & Income Initial Class       Fidelity® VIP Growth & Income Portfolio Initial Class
    Fidelity® VIP Growth & Income Service Class 2     Fidelity® VIP Growth & Income Portfolio Service Class 2
    Fidelity® VIP Growth Opportunities Initial Class     Fidelity® VIP Growth Opportunities Portfolio Initial Class
    Fidelity® VIP Growth Opportunities Service Class     Fidelity® VIP Growth Opportunities Portfolio Service Class
    Fidelity® VIP Growth Opportunities Service Class 2     Fidelity® VIP Growth Opportunities Portfolio Service Class 2
    Fidelity® VIP High Income Initial Class       Fidelity® VIP High Income Portfolio Initial Class
    Fidelity® VIP High Income Service Class       Fidelity® VIP High Income Portfolio Service Class
    Fidelity® VIP High Income Service Class 2       Fidelity® VIP High Income Portfolio Service Class 2
    Fidelity® VIP Index 500 Initial Class       Fidelity® VIP Index 500 Portfolio Initial Class  
    Fidelity® VIP Index 500 Service Class 2       Fidelity® VIP Index 500 Portfolio Service Class 2
    Fidelity® VIP Investment Grade Bond Initial Class     Fidelity® VIP Investment Grade Bond Portfolio Initial Class
    Fidelity® VIP Investment Grade Bond Service Class 2     Fidelity® VIP Investment Grade Bond Portfolio Service Class 2
    Fidelity® VIP Mid Cap Initial Class         Fidelity® VIP Mid Cap Portfolio Initial Class  
    Fidelity® VIP Mid Cap Service Class 2       Fidelity® VIP Mid Cap Portfolio Service Class 2
    Fidelity® VIP Overseas Initial Class       Fidelity® VIP Overseas Portfolio Initial Class  
    Fidelity® VIP Value Strategies Service Class 2     Fidelity® VIP Value Strategies Portfolio Service Class 2
  Franklin Templeton Variable Insurance Products Trust   Franklin Templeton Variable Insurance Products Trust
    Franklin Income Class 2 Shares         Franklin Income Fund Class 2 Shares  
    Franklin Mutual Shares Class 2 Shares       Franklin Mutual Shares Fund Class 2 Shares  
    Franklin Rising Dividends Class 2 Shares       Franklin Rising Dividends Fund Class 2 Shares  
    Franklin Small Cap Value Class 2 Shares       Franklin Small Cap Value Fund Class 2 Shares  
    Franklin Small-Mid Cap Growth Class 2 Shares     Franklin Small-Mid Cap Growth Fund Class 2 Shares
    Franklin Templeton Developing Markets Class 2 Shares   Franklin Templeton Developing Markets Fund Class 2 Shares
 
59
 
 
  Transamerica Life Insurance Company
  Retirement Builder Variable Annuity Account
  Notes to Financial Statements
  December 31, 2025
                               
                               
1.  Organization (continued)
                               
Subaccount Investment by Mutual Fund:    
Subaccount         Mutual Fund        
  Franklin Templeton Variable Insurance Products Trust   Franklin Templeton Variable Insurance Products Trust
    Franklin Templeton Foreign Class 2 Shares       Franklin Templeton Foreign Fund Class 2 Shares
  AIM Variable Insurance Funds (Invesco Variable Insurance Funds)   AIM Variable Insurance Funds (Invesco Variable Insurance Funds)
    Invesco V.I. American Franchise Series I Shares     Invesco V.I. American Franchise Fund Series I Shares
    Invesco V.I. American Franchise Series II Shares     Invesco V.I. American Franchise Fund Series II Shares
    Invesco V.I. American Value Series II Shares       Invesco V.I. American Value Fund Series II Shares
    Invesco V.I. Comstock Series II Shares       Invesco V.I. Comstock Fund Series II Shares  
    Invesco V.I. Core Equity Series II Shares       Invesco V.I. Core Equity Fund Series II Shares  
    Invesco V.I. Discovery Large Cap Series I Shares     Invesco V.I. Discovery Large Cap Fund Series I Shares
    Invesco V.I. Discovery Large Cap Series II Shares     Invesco V.I. Discovery Large Cap Fund Series II Shares
    Invesco V.I. Discovery Mid Cap Growth Series II Shares     Invesco V.I. Discovery Mid Cap Growth Fund Series II Shares
    Invesco V.I. Equity and Income Series I Shares     Invesco V.I. Equity and Income Fund Series I Shares
    Invesco V.I. Equity and Income Series II Shares     Invesco V.I. Equity and Income Fund Series II Shares
    Invesco V.I. EQV International Equity Series I Shares     Invesco V.I. EQV International Equity Fund Series I Shares
    Invesco V.I. EQV International Equity Series II Shares     Invesco V.I. EQV International Equity Fund Series II Shares
    Invesco V.I. Global Series I Shares       Invesco V.I. Global Fund Series I Shares  
    Invesco V.I. Global Series II Shares       Invesco V.I. Global Fund Series II Shares  
    Invesco V.I. Global Strategic Income Series I Shares     Invesco V.I. Global Strategic Income Fund Series I Shares
    Invesco V.I. Global Strategic Income Series II Shares     Invesco V.I. Global Strategic Income Fund Series II Shares
    Invesco V.I. Government Securities Series I Shares     Invesco V.I. Government Securities Fund Series I Shares
    Invesco V.I. Government Securities Series II Shares     Invesco V.I. Government Securities Fund Series II Shares
    Invesco V.I. Main Street Series I Shares       Invesco V.I. Main Street Fund Series I Shares  
    Invesco V.I. Main Street Series II Shares       Invesco V.I. Main Street Fund. Series II Shares
    Invesco V.I. Main Street Mid Cap Series II Shares     Invesco V.I. Main Street Mid Cap Fund Series II Shares
    Invesco V.I. Main Street Small Cap Series II Shares     Invesco V.I. Main Street Small Cap Fund Series II Shares
  Janus Aspen Series         Janus Aspen Series      
    Janus Henderson - Balanced Service Shares       Janus Henderson - Balanced Portfolio Service Shares
    Janus Henderson - Enterprise Service Shares     Janus Henderson - Enterprise Portfolio Service Shares
    Janus Henderson - Forty Service Shares       Janus Henderson - Forty Portfolio Service Shares
    Janus Henderson - Global Research Service Shares     Janus Henderson - Global Research Portfolio Service Shares
    Janus Henderson - Mid Cap Value Service Shares     Janus Henderson - Mid Cap Value Portfolio Service Shares
    Janus Henderson - Overseas Service Shares       Janus Henderson - Overseas Portfolio Service Shares
    Janus Henderson - Research Service Shares       Janus Henderson - Research Portfolio Service Shares
  Lincoln Variable Investment Products     Lincoln Variable Investment Products  
    LVIP JPMorgan Core Bond Standard Shares       LVIP JPMorgan Core Bond Portfolio Standard Shares
    LVIP JPMorgan Mid Cap Value Standard Shares     LVIP JPMorgan Mid Cap Value Portfolio Standard Shares
    LVIP JPMorgan U.S. Equity Standard Shares       LVIP JPMorgan U.S. Equity Portfolio Standard Shares
  MFS® Variable Insurance Trust       MFS® Variable Insurance Trust    
    MFS® Core Equity Initial Class         MFS® Core Equity Portfolio Initial Class  
    MFS® Growth Initial Class         MFS® Growth Series Initial Class    
    MFS® Growth Service Class         MFS® Growth Series Service Class    
    MFS® Massachusetts Investors Growth Stock Initial Class   MFS® Massachusetts Investors Growth Stock Portfolio Initial Class
    MFS® Massachusetts Investors Growth Stock Service Class MFS® Massachusetts Investors Growth Stock Portfolio Service Class
    MFS® New Discovery Initial Class         MFS® New Discovery Series Initial Class  
    MFS® New Discovery Service Class       MFS® New Discovery Series Service Class  
 
60
 
 
  Transamerica Life Insurance Company
  Retirement Builder Variable Annuity Account
  Notes to Financial Statements
  December 31, 2025
                               
                               
1.  Organization (continued)
                               
Subaccount Investment by Mutual Fund:    
Subaccount         Mutual Fund        
  MFS® Variable Insurance Trust       MFS® Variable Insurance Trust    
    MFS® Research Initial Class         MFS® Research Series Initial Class    
    MFS® Research Service Class         MFS® Research Series Service Class  
    MFS® Total Return Initial Class         MFS® Total Return Series Initial Class  
    MFS® Total Return Service Class         MFS® Total Return Series Service Class  
    MFS® Total Return Bond Initial Class       MFS® Total Return Bond Series Initial Class  
    MFS® Total Return Bond Service Class       MFS® Total Return Bond Series Service Class  
    MFS® Utilities Initial Class         MFS® Utilities Series Initial Class    
    MFS® Utilities Service Class         MFS® Utilities Series Service Class    
  Putnam Variable Trust         Putnam Variable Trust      
    Putnam VT Core Equity Class IB Shares       Putnam VT Core Equity Fund Class IB Shares  
    Putnam VT Diversified Income Class IB Shares     Putnam VT Diversified Income Fund Class IB Shares
    Putnam VT Focused International Equity Class IB Shares   Putnam VT Focused International Equity Class Fund IB Shares
    Putnam VT George Putnam Balanced Class IB Shares     Putnam VT George Putnam Balanced Fund Class IB Shares
    Putnam VT Global Health Care Class IB Shares     Putnam VT Global Health Care Fund Class IB Shares
    Putnam VT Government Money Market Class IB Shares   Putnam VT Government Money Market Fund Class IB Shares
    Putnam VT Income Class IB Shares       Putnam VT Income Fund Class IB Shares  
    Putnam VT International Equity Class IB Shares     Putnam VT International Equity Fund Class IB Shares
    Putnam VT Large Cap Growth Class IB Shares     Putnam VT Large Cap Growth Fund Class IB Shares
    Putnam VT Large Cap Value Class IB Shares       Putnam VT Large Cap Value Fund Class IB Shares
    Putnam VT Research Class IB Shares       Putnam VT Research Fund Class IB Shares  
    Putnam VT Sustainable Leaders Class IB Shares     Putnam VT Sustainable Leaders Fund Class IB Shares
  Transamerica Series Trust       Transamerica Series Trust      
    TA Aegon Bond Initial Class         Transamerica Aegon Bond VP Initial Class  
    TA Aegon Bond Service Class         Transamerica Aegon Bond VP Service Class  
    TA Aegon Core Bond Initial Class         Transamerica Aegon Core Bond VP Initial Class
    TA Aegon High Yield Bond Initial Class       Transamerica Aegon High Yield Bond VP Initial Class
    TA Aegon High Yield Bond Service Class       Transamerica Aegon High Yield Bond VP Service Class
    TA Aegon Sustainable Equity Income Initial Class     Transamerica Aegon Sustainable Equity Income VP Initial Class
    TA Aegon Sustainable Equity Income Service Class     Transamerica Aegon Sustainable Equity Income VP Service Class
    TA Aegon U.S. Government Securities Initial Class     Transamerica Aegon U.S. Government Securities VP Initial Class
    TA Aegon U.S. Government Securities Service Class     Transamerica Aegon U.S. Government Securities VP Service Class
    TA BlackRock Government Money Market Initial Class     Transamerica BlackRock Government Money Market VP Initial Class
    TA BlackRock Government Money Market Service Class   Transamerica BlackRock Government Money Market VP Service Class
    TA BlackRock iShares Edge 40 Initial Class       Transamerica BlackRock iShares Edge 40 VP Initial Class
    TA BlackRock iShares Edge 40 Service Class       Transamerica BlackRock iShares Edge 40 VP Service Class
    TA BlackRock Real Estate Securities Initial Class     Transamerica BlackRock Real Estate Securities VP Initial Class
    TA BlackRock Real Estate Securities Service Class     Transamerica BlackRock Real Estate Securities VP Service Class
    TA International Focus Initial Class       Transamerica International Focus VP Initial Class
    TA International Focus Service Class       Transamerica International Focus VP Service Class
    TA Janus Mid-Cap Growth Initial Class       Transamerica Janus Mid-Cap Growth VP Initial Class
    TA Janus Mid-Cap Growth Service Class       Transamerica Janus Mid-Cap Growth VP Service Class
    TA JPMorgan Asset Allocation - Conservative Initial Class   Transamerica JPMorgan Asset Allocation - Conservative VP Initial Class
    TA JPMorgan Asset Allocation - Conservative Service Class Transamerica JPMorgan Asset Allocation - Conservative VP Service Class
    TA JPMorgan Asset Allocation - Moderate Initial Class     Transamerica JPMorgan Asset Allocation - Moderate VP Initial Class
    TA JPMorgan Asset Allocation - Moderate Service Class   Transamerica JPMorgan Asset Allocation - Moderate VP Service Class
 
61
 
 
  Transamerica Life Insurance Company
  Retirement Builder Variable Annuity Account
  Notes to Financial Statements
  December 31, 2025
                               
                               
1.  Organization (continued)
                               
Subaccount Investment by Mutual Fund:    
Subaccount         Mutual Fund        
  Transamerica Series Trust       Transamerica Series Trust      
    TA JPMorgan Asset Allocation - Moderate Growth Initial Class Transamerica JPMorgan Asset Allocation - Moderate Growth VP Initial Class
    TA JPMorgan Asset Allocation - Moderate Growth Service Class Transamerica JPMorgan Asset Allocation - Moderate Growth VP Service Class
    TA JPMorgan Diversified Equity Allocation Initial Class     Transamerica JPMorgan Diversified Equity Allocation VP Initial Class
    TA JPMorgan Diversified Equity Allocation Service Class   Transamerica JPMorgan Diversified Equity Allocation VP Service Class
    TA JPMorgan Enhanced Index Initial Class       Transamerica JPMorgan Enhanced Index VP Initial Class
    TA JPMorgan Enhanced Index Service Class       Transamerica JPMorgan Enhanced Index VP Service Class
    TA JPMorgan International Moderate Growth Initial Class Transamerica JPMorgan International Moderate Growth VP Initial Class
    TA JPMorgan International Moderate Growth Service Class Transamerica JPMorgan International Moderate Growth VP Service Class
    TA JPMorgan Tactical Allocation Initial Class       Transamerica JPMorgan Tactical Allocation VP Initial Class
    TA JPMorgan Tactical Allocation Service Class     Transamerica JPMorgan Tactical Allocation VP Service Class
    TA Multi-Managed Balanced Initial Class       Transamerica Multi-Managed Balanced VP Initial Class
    TA Multi-Managed Balanced Service Class       Transamerica Multi-Managed Balanced VP Service Class
    TA Small/Mid Cap Value Initial Class       Transamerica Small/Mid Cap Value VP Initial Class
    TA T. Rowe Price Small Cap Initial Class       Transamerica T. Rowe Price Small Cap VP Initial Class
    TA T. Rowe Price Small Cap Service Class       Transamerica T. Rowe Price Small Cap VP Service Class
    TA TSW International Equity Initial Class       Transamerica TSW International Equity VP Initial Class
    TA TSW International Equity Service Class       Transamerica TSW International Equity VP Service Class
    TA TSW Mid Cap Value Opportunities Initial Class     Transamerica TSW Mid Cap Value Opportunities VP Initial Class
    TA WMC US Growth Initial Class         Transamerica WMC US Growth VP Initial Class
    TA WMC US Growth Service Class         Transamerica WMC US Growth VP Service Class
                               
                               
Each period reported on reflects a full twelve month period except as follows:      
Subaccount         Inception Date        
  Invesco V.I. Equity and Income Series I Shares     April 26, 2024        
  LVIP JPMorgan Core Bond Standard Shares     April 28, 2023        
  LVIP JPMorgan Mid Cap Value Standard Shares     April 28, 2023        
  LVIP JPMorgan U.S. Equity Standard Shares     April 28, 2023        
  Invesco V.I. American Value Series II Shares     April 30, 2021        
                               
                               
The following subaccount name changes were made effective during the fiscal year ended December 31, 2025:
Subaccount         Formerly        
  BNY Mellon Small Cap Initial Shares       BNY Mellon VIF Opportunistic Small Cap Initial Shares
  Columbia - Acorn         Wanger Acorn        
  CTIVP® - Principal Large Cap Growth Class 1 Shares   CTIVP® - Principal Blue Chip Growth Class 1 Shares
  Fidelity® VIP Asset Manager 50% Initial Class     Fidelity® VIP Asset Manager Initial Class  
  Fidelity® VIP Asset Manager 70% Initial Class     Fidelity® VIP Asset Manager: Growth Initial Class
  Invesco V.I. Discovery Large Cap Series I Shares   Invesco V.I. Capital Appreciation Series I Shares  
  Invesco V.I. Discovery Large Cap Series II Shares   Invesco V.I. Capital Appreciation Series II Shares
  TA JPMorgan Diversified Equity Allocation Initial Class   TA JPMorgan Asset Allocation - Growth Initial Class
  TA JPMorgan Diversified Equity Allocation Service Class   TA JPMorgan Asset Allocation - Growth Service Class
                               
 
62
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
December 31, 2025
                         
                         
2.  Summary of Significant Accounting Policies      
                         
The financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for variable annuity separate accounts registered as unit investment trusts.  The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions regarding matters that affect the reported amount of assets and liabilities.  Actual results could differ from those estimates.
                         
                         
Investments                      
Net purchase payments received by the Separate Account are invested in the portfolios of the Mutual Funds as selected by the contract owner. Investments are stated at the closing net asset values per share on December 31, 2025.
Realized capital gains and losses from sales of shares in the Separate Account are determined on the first-in, first-out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividend income is recorded on the ex-dividend date. Unrealized gains or losses from investments in the Mutual Funds are included in the Statements of Operations and Changes in Net Assets.
                         
Dividend Income                    
Dividends received from the Mutual Fund investments are reinvested to purchase additional mutual fund shares.
                         
                         
Fair Value Measurements and Fair Value Hierarchy              
The Accounting Standards Codification™ (ASC) 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the nature of inputs used to measure fair value and enhances disclosure requirements for fair value measurements.
The Separate Account has categorized its financial instruments into a three level hierarchy which is based on the priority of the inputs to the valuation technique.    The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument.
Financial assets and liabilities recorded at fair value on the Statements of Assets and Liabilities are categorized as follows:
Level 1. Unadjusted quoted prices for identical assets or liabilities in an active market.
Level 2. Quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:
  a)  Quoted prices for similar assets or liabilities in active markets          
  b)  Quoted prices for identical or similar assets or liabilities in non-active markets        
  c)  Inputs other than quoted market prices that are observable          
  d)  Inputs that are derived principally from or corroborated by observable market data through correlation or other means.
                         
Level 3. Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.
All investments in the Mutual Funds included in the Statements of Assets and Liabilities are stated at fair value and are based upon published closing NAV per share and therefore are considered Level 1.
There were no transfers between Level 1, Level 2 and Level 3 during the year ended December 31, 2025.
 
63
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
December 31, 2025
         
         
         
         
         
         
3. Investments         
The aggregate cost of purchases and proceeds from sales of investments for the period ended December 31, 2025 were as follows:         
         
Subaccount Purchases Sales
AB Large Cap Growth Class B Shares $ 272,888 $ 256,411
AB Relative Value Class B Shares   405,127   407,344
AB Sustainable Global Thematic Growth Class B Shares   101,324   44,783
Allspring VT Discovery All Cap Growth Class 1 Shares   430,625   73,136
Allspring VT Discovery All Cap Growth Class 2 Shares   72,358   16,496
Allspring VT Opportunity Class 1 Shares   203,624   89,906
Allspring VT Opportunity Class 2 Shares   6,521   4,775
Allspring VT Small Cap Growth Class 1 Shares   73,867   61,493
Allspring VT Small Cap Growth Class 2 Shares   5,105   4,453
BNY Mellon Small Cap Initial Shares   13,123   209,628
BNY Mellon Stock Index Initial Shares   112,428   342,848
BNY Mellon Stock Index Service Shares   2,513   3,577
BNY Mellon Sustainable U.S. Equity Initial Shares   18,529   4,875
BNY Mellon VIF Appreciation Initial Shares   317,042   364,759
BNY Mellon VIF Government Money Market   171,420   92,623
BNY Mellon VIF Growth and Income Initial Shares   118,139   494,083
Columbia - Acorn   33,037   171,920
Columbia - Dividend Opportunity Class 1 Shares   1,353   71,959
Columbia - Income Opportunity Class 1 Shares   29,556   66,226
Columbia - Large Cap Growth Class 1 Shares   20,532   296,605
Columbia - Overseas Core Class 2 Shares   33,561   107,513
Columbia - Select Mid Cap Growth Class 1 Shares   916   65,201
Columbia - Select Mid Cap Value Class 1 Shares   1,144   69,192
Columbia - Small Cap Value Class 1 Shares   173,358   139,194
Columbia - Small Company Growth Class 1 Shares   3,222   3,139
Columbia - Strategic Income Class 1 Shares   34,512   79,111
CTIVP® - Principal Large Cap Growth Class 1 Shares   2,899   274,172
Davis Equity   480,345   227,447
Federated Hermes Government Money II Service Shares   109,108   235,696
Federated Hermes High Income Bond II Primary Shares   104,899   259,108
Federated Hermes Kaufmann II Primary Shares   157,651   153,338
Federated Hermes Kaufmann II Service Shares   124,138   163,975
Federated Hermes Managed Volatility II Primary Shares   33,199   41,725
Federated Hermes Managed Volatility II Service Shares   14,775   34,177
Federated Hermes Quality Bond II Primary Shares   3,174   6,067
Fidelity® VIP Asset Manager 50% Initial Class   302,274   297,289
 
64
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
December 31, 2025
         
         
         
         
         
         
3. Investments (continued)         
         
         
Subaccount Purchases Sales
Fidelity® VIP Asset Manager 70% Initial Class   16,946   144,272
Fidelity® VIP Balanced Initial Class $ 195,580 $ 301,095
Fidelity® VIP Balanced Service Class 2   131,382   29,784
Fidelity® VIP Contrafund® Initial Class   1,703,006   1,021,026
Fidelity® VIP Contrafund® Service Class 2   1,837,357   4,255,684
Fidelity® VIP Equity-Income Initial Class   311,334   290,596
Fidelity® VIP Equity-Income Service Class 2   484,474   601,701
Fidelity® VIP Government Money Market Initial Class   75,185   193,815
Fidelity® VIP Government Money Market Service Class 2   9,066   24,328
Fidelity® VIP Growth Initial Class   1,126,808   847,855
Fidelity® VIP Growth Service Class 2   347,451   730,250
Fidelity® VIP Growth & Income Initial Class   337,114   324,159
Fidelity® VIP Growth & Income Service Class 2   44,717   93,707
Fidelity® VIP Growth Opportunities Initial Class   64,549   417,642
Fidelity® VIP Growth Opportunities Service Class   34,332   203,198
Fidelity® VIP Growth Opportunities Service Class 2   17,334   52,985
Fidelity® VIP High Income Initial Class   114,259   151,754
Fidelity® VIP High Income Service Class   32,738   48,210
Fidelity® VIP High Income Service Class 2   14,848   8,379
Fidelity® VIP Index 500 Initial Class   341,022   2,090,357
Fidelity® VIP Index 500 Service Class 2   175,966   112,943
Fidelity® VIP Investment Grade Bond Initial Class   111,642   324,100
Fidelity® VIP Investment Grade Bond Service Class 2   13,961   50,060
Fidelity® VIP Mid Cap Initial Class   427,649   358,776
Fidelity® VIP Mid Cap Service Class 2   886,494   867,734
Fidelity® VIP Overseas Initial Class   83,316   113,920
Fidelity® VIP Value Strategies Service Class 2   301,134   453,378
Franklin Income Class 2 Shares   7,670   14,814
Franklin Mutual Shares Class 2 Shares   350,757   382,697
Franklin Rising Dividends Class 2 Shares   151,466   209,100
Franklin Small Cap Value Class 2 Shares   95,392   66,398
Franklin Small-Mid Cap Growth Class 2 Shares   213,255   306,932
Franklin Templeton Developing Markets Class 2 Shares   12,337   32,101
Franklin Templeton Foreign Class 2 Shares   130,248   168,779
Invesco V.I. American Franchise Series I Shares   161,557   768,919
Invesco V.I. American Franchise Series II Shares   37,064   13,336
 
65
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
December 31, 2025
         
         
         
         
         
         
3. Investments (continued)         
         
         
Subaccount Purchases Sales
Invesco V.I. American Value Series II Shares   73,572   47,612
Invesco V.I. Comstock Series II Shares   149,493   143,979
Invesco V.I. Core Equity Series II Shares $ 98,653 $ 132,493
Invesco V.I. Discovery Large Cap Series I Shares   941,813   1,268,122
Invesco V.I. Discovery Large Cap Series II Shares   89,705   71,394
Invesco V.I. Discovery Mid Cap Growth Series II Shares   14,995   53,243
Invesco V.I. Equity and Income Series I Shares   62,577   174,460
Invesco V.I. Equity and Income Series II Shares   181,810   372,493
Invesco V.I. EQV International Equity Series I Shares   29,957   16,527
Invesco V.I. EQV International Equity Series II Shares   4,226   3,939
Invesco V.I. Global Series I Shares   303,065   613,803
Invesco V.I. Global Series II Shares   8,474   1,513
Invesco V.I. Global Strategic Income Series I Shares   63,671   80,615
Invesco V.I. Global Strategic Income Series II Shares   23,256   37,688
Invesco V.I. Government Securities Series I Shares   6,490   23,046
Invesco V.I. Government Securities Series II Shares   7,666   22,586
Invesco V.I. Main Street Series I Shares   474,919   619,663
Invesco V.I. Main Street Series II Shares   45,164   39,631
Invesco V.I. Main Street Mid Cap Series II Shares   29,411   26,962
Invesco V.I. Main Street Small Cap Series II Shares   5,597   5,967
Janus Henderson - Balanced Service Shares   139,967   216,953
Janus Henderson - Enterprise Service Shares   118,742   300,414
Janus Henderson - Forty Service Shares   32,182   12,639
Janus Henderson - Global Research Service Shares   174,405   170,138
Janus Henderson - Mid Cap Value Service Shares   12,737   3,573
Janus Henderson - Overseas Service Shares   15,247   160,335
Janus Henderson - Research Service Shares   77,816   148,737
LVIP JPMorgan Core Bond Standard Shares   160,448   382,283
LVIP JPMorgan Mid Cap Value Standard Shares   129,546   152,132
LVIP JPMorgan U.S. Equity Standard Shares   93,346   323,009
MFS® Core Equity Initial Class   3,708   2,762
MFS® Growth Initial Class   878,585   1,082,107
MFS® Growth Service Class   264,292   54,925
MFS® Massachusetts Investors Growth Stock Initial Class   9,179   7,937
MFS® Massachusetts Investors Growth Stock Service Class   190,218   134,225
MFS® New Discovery Initial Class   5,033   43,097
 
66
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
December 31, 2025
         
         
         
         
         
         
3. Investments (continued)         
         
         
Subaccount Purchases Sales
MFS® New Discovery Service Class   61   29,025
MFS® Research Initial Class   385,418   199,875
MFS® Research Service Class   253,498   149,798
MFS® Total Return Initial Class $ 487,440 $ 706,190
MFS® Total Return Service Class   178,117   188,286
MFS® Total Return Bond Initial Class   5,287   11,226
MFS® Total Return Bond Service Class   55,897   127,702
MFS® Utilities Initial Class   200,562   752,170
MFS® Utilities Service Class   33,955   109,122
Putnam VT Core Equity Class IB Shares   31   6
Putnam VT Diversified Income Class IB Shares   13,726   25,573
Putnam VT Focused International Equity Class IB Shares   32,815   53,889
Putnam VT George Putnam Balanced Class IB Shares   41,797   58,407
Putnam VT Global Health Care Class IB Shares   12,808   71,724
Putnam VT Government Money Market Class IB Shares   788,077   236,400
Putnam VT Income Class IB Shares   6,903   1,823
Putnam VT International Equity Class IB Shares   3,115   8,173
Putnam VT Large Cap Growth Class IB Shares   78,328   63,530
Putnam VT Large Cap Value Class IB Shares   291,922   445,195
Putnam VT Research Class IB Shares   15,444   4,416
Putnam VT Sustainable Leaders Class IB Shares   1,177   9,383
TA Aegon Bond Initial Class   1,080,740   843,681
TA Aegon Bond Service Class   335,793   349,258
TA Aegon Core Bond Initial Class   68,900   142,817
TA Aegon High Yield Bond Initial Class   355,366   660,332
TA Aegon High Yield Bond Service Class   20,547   9,871
TA Aegon Sustainable Equity Income Initial Class   574,369   1,445,663
TA Aegon Sustainable Equity Income Service Class   134,462   236,763
TA Aegon U.S. Government Securities Initial Class   669,907   430,983
TA Aegon U.S. Government Securities Service Class   724,727   967,919
TA BlackRock Government Money Market Initial Class   1,172,780   1,323,291
TA BlackRock Government Money Market Service Class   341,537   592,694
TA BlackRock iShares Edge 40 Initial Class   125,506   447,948
TA BlackRock iShares Edge 40 Service Class   38,957   31,910
TA BlackRock Real Estate Securities Initial Class   7,843   19,416
TA BlackRock Real Estate Securities Service Class   21,945   25,285
 
67
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
December 31, 2025
         
         
         
         
         
         
3. Investments (continued)         
         
         
Subaccount Purchases Sales
TA International Focus Initial Class   169,374   135,584
TA International Focus Service Class   119,082   18,618
TA Janus Mid-Cap Growth Initial Class   1,039,671   1,306,579
TA Janus Mid-Cap Growth Service Class   65,573   158,624
TA JPMorgan Asset Allocation - Conservative Initial Class $ 1,308,064 $ 1,568,409
TA JPMorgan Asset Allocation - Conservative Service Class   536,084   1,924,088
TA JPMorgan Asset Allocation - Moderate Initial Class   1,695,555   2,103,154
TA JPMorgan Asset Allocation - Moderate Service Class   1,286,353   5,912,090
TA JPMorgan Asset Allocation - Moderate Growth Initial Class   858,274   3,116,052
TA JPMorgan Asset Allocation - Moderate Growth Service Class   3,111,566   13,580,939
TA JPMorgan Diversified Equity Allocation Initial Class   1,007,103   1,838,418
TA JPMorgan Diversified Equity Allocation Service Class   448,525   2,068,936
TA JPMorgan Enhanced Index Initial Class   2,039,154   1,794,225
TA JPMorgan Enhanced Index Service Class   122,501   301,919
TA JPMorgan International Moderate Growth Initial Class   20,920   24,210
TA JPMorgan International Moderate Growth Service Class   180,126   828,485
TA JPMorgan Tactical Allocation Initial Class   28,830   89,745
TA JPMorgan Tactical Allocation Service Class   22,521   84,161
TA Multi-Managed Balanced Initial Class   630,361   929,461
TA Multi-Managed Balanced Service Class   2,358,026   2,476,096
TA Small/Mid Cap Value Initial Class   384,846   276,232
TA T. Rowe Price Small Cap Initial Class   340,425   249,060
TA T. Rowe Price Small Cap Service Class   137,645   62,529
TA TSW International Equity Initial Class   71,904   140,941
TA TSW International Equity Service Class   42,585   89,835
TA TSW Mid Cap Value Opportunities Initial Class   359,398   131,264
TA WMC US Growth Initial Class   7,883,557   7,650,055
TA WMC US Growth Service Class   1,155,814   1,297,191
 
68
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
               
               
4. Change in Units              
               
The change in units outstanding were as follows:
   		            
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
AB Large Cap Growth Class B Shares - (47,608) (47,608)   17 (102,593) (102,576)
AB Relative Value Class B Shares 66,584 (114,379) (47,795)   162,616 (239,545) (76,929)
AB Sustainable Global Thematic Growth Class B Shares 1,892 (23,694) (21,802)   9,611 (57,171) (47,560)
Allspring VT Discovery All Cap Growth Class 1 Shares 500 (9,418) (8,918)   140 (22,337) (22,197)
Allspring VT Discovery All Cap Growth Class 2 Shares 937 (1,595) (658)   - (8,353) (8,353)
Allspring VT Opportunity Class 1 Shares 9,997 (16,272) (6,275)   1,001 (30,980) (29,979)
Allspring VT Opportunity Class 2 Shares - (994) (994)   479 (8,571) (8,092)
Allspring VT Small Cap Growth Class 1 Shares 12,402 (14,644) (2,242)   365 (22,749) (22,384)
Allspring VT Small Cap Growth Class 2 Shares - (948) (948)   232 (8,696) (8,464)
BNY Mellon Small Cap Initial Shares 1,933 (63,283) (61,350)   2,362 (11,593) (9,231)
BNY Mellon Stock Index Initial Shares 341 (50,154) (49,813)   545 (63,457) (62,912)
BNY Mellon Stock Index Service Shares 171 (657) (486)   692 (696) (4)
BNY Mellon Sustainable U.S. Equity Initial Shares - (527) (527)   - (21,642) (21,642)
BNY Mellon VIF Appreciation Initial Shares 200 (53,625) (53,425)   19,694 (78,480) (58,786)
BNY Mellon VIF Government Money Market 130,602 (73,114) 57,488   102,332 (254,655) (152,323)
BNY Mellon VIF Growth and Income Initial Shares 455 (73,841) (73,386)   44,733 (27,588) 17,145
Columbia - Acorn 8,760 (37,187) (28,427)   6,876 (31,750) (24,874)
Columbia - Dividend Opportunity Class 1 Shares 115 (19,966) (19,851)   129 (37,917) (37,788)
Columbia - Income Opportunity Class 1 Shares 6,510 (36,733) (30,223)   31,018 (169,802) (138,784)
Columbia - Large Cap Growth Class 1 Shares 6,775 (66,367) (59,592)   22,554 (231,716) (209,162)
Columbia - Overseas Core Class 2 Shares 6,433 (54,852) (48,419)   10,204 (46,746) (36,542)
Columbia - Select Mid Cap Growth Class 1 Shares 338 (13,789) (13,451)   1,936 (53,500) (51,564)
Columbia - Select Mid Cap Value Class 1 Shares 68 (22,665) (22,597)   88 (15,343) (15,255)
Columbia - Small Cap Value Class 1 Shares 6,828 (24,495) (17,667)   2,586 (21,127) (18,541)
Columbia - Small Company Growth Class 1 Shares - (523) (523)   - (556) (556)
Columbia - Strategic Income Class 1 Shares 5,074 (32,009) (26,935)   10,194 (21,564) (11,370)
 
69
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
               
               
               
4. Change in Units (continued)               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
CTIVP® - Principal Large Cap Growth Class 1 Shares 1,221 (69,220) (67,999)   3,634 (109,512) (105,878)
Davis Equity 1,466 (45,925) (44,459)   11,249 (168,799) (157,550)
Federated Hermes Government Money II Service Shares 30,749 (206,575) (175,826)   77,612 (296,648) (219,036)
Federated Hermes High Income Bond II Primary Shares 7,029 (84,985) (77,956)   6,976 (60,342) (53,366)
Federated Hermes Kaufmann II Primary Shares 1,710 (23,123) (21,413)   6,029 (45,791) (39,762)
Federated Hermes Kaufmann II Service Shares 4,617 (33,524) (28,907)   6,239 (44,102) (37,863)
Federated Hermes Managed Volatility II Primary Shares 1,563 (12,747) (11,184)   259 (57,586) (57,327)
Federated Hermes Managed Volatility II Service Shares 2,414 (23,195) (20,781)   1,883 (26,091) (24,208)
Federated Hermes Quality Bond II Primary Shares - (2,693) (2,693)   - (2,129) (2,129)
Fidelity® VIP Asset Manager 50% Initial Class 68,867 (80,590) (11,723)   644 (48,463) (47,819)
Fidelity® VIP Asset Manager 70% Initial Class - (32,984) (32,984)   - (37,233) (37,233)
Fidelity® VIP Balanced Initial Class 8,775 (48,069) (39,294)   12,651 (35,271) (22,620)
Fidelity® VIP Balanced Service Class 2 6,350 (1,462) 4,888   8,584 (17,029) (8,445)
Fidelity® VIP Contrafund® Initial Class 53 (62,487) (62,434)   2,246 (91,192) (88,946)
Fidelity® VIP Contrafund® Service Class 2 35,389 (591,539) (556,150)   186,255 (209,090) (22,835)
Fidelity® VIP Equity-Income Initial Class 6,877 (40,063) (33,186)   733 (52,969) (52,236)
Fidelity® VIP Equity-Income Service Class 2 17,741 (132,180) (114,439)   10,587 (270,344) (259,757)
Fidelity® VIP Government Money Market Initial Class 38,395 (140,671) (102,276)   200,083 (261,342) (61,259)
Fidelity® VIP Government Money Market Service Class 2 2,208 (20,343) (18,135)   4,954 (24,149) (19,195)
Fidelity® VIP Growth Initial Class 11,527 (64,793) (53,266)   4,810 (80,016) (75,206)
Fidelity® VIP Growth Service Class 2 429 (144,259) (143,830)   755 (78,037) (77,282)
Fidelity® VIP Growth & Income Initial Class 681 (37,913) (37,232)   8,608 (67,887) (59,279)
Fidelity® VIP Growth & Income Service Class 2 - (20,417) (20,417)   - (4,990) (4,990)
Fidelity® VIP Growth Opportunities Initial Class 307 (32,260) (31,953)   1,439 (29,474) (28,035)
Fidelity® VIP Growth Opportunities Service Class 298 (18,902) (18,604)   8,937 (51,022) (42,085)
Fidelity® VIP Growth Opportunities Service Class 2 342 (3,832) (3,490)   448 (2,483) (2,035)
 
70
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
               
               
               
4. Change in Units (continued)               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
Fidelity® VIP High Income Initial Class 30,156 (60,585) (30,429)   8,703 (44,364) (35,661)
Fidelity® VIP High Income Service Class 1,122 (14,806) (13,684)   12,310 (45,324) (33,014)
Fidelity® VIP High Income Service Class 2 821 (2,153) (1,332)   1,970 (50,430) (48,460)
Fidelity® VIP Index 500 Initial Class 6,228 (220,354) (214,126)   70,022 (327,900) (257,878)
Fidelity® VIP Index 500 Service Class 2 14,371 (12,218) 2,153   14,330 (125,612) (111,282)
Fidelity® VIP Investment Grade Bond Initial Class 16,156 (141,985) (125,829)   10,038 (174,560) (164,522)
Fidelity® VIP Investment Grade Bond Service Class 2 148 (25,806) (25,658)   9,475 (39,354) (29,879)
Fidelity® VIP Mid Cap Initial Class 538 (25,866) (25,328)   1,090 (18,019) (16,929)
Fidelity® VIP Mid Cap Service Class 2 32,114 (133,850) (101,736)   25,008 (192,864) (167,856)
Fidelity® VIP Overseas Initial Class 156 (29,632) (29,476)   6,782 (10,816) (4,034)
Fidelity® VIP Value Strategies Service Class 2 47,321 (101,258) (53,937)   3,941 (30,522) (26,581)
Franklin Income Class 2 Shares - (6,389) (6,389)   - (1,071) (1,071)
Franklin Mutual Shares Class 2 Shares 834 (124,344) (123,510)   823 (160,366) (159,543)
Franklin Rising Dividends Class 2 Shares 973 (34,408) (33,435)   23,875 (22,941) 934
Franklin Small Cap Value Class 2 Shares 1,390 (9,444) (8,054)   7,186 (28,326) (21,140)
Franklin Small-Mid Cap Growth Class 2 Shares 4,377 (56,244) (51,867)   6,403 (128,245) (121,842)
Franklin Templeton Developing Markets Class 2 Shares 335 (8,539) (8,204)   8,064 (12,933) (4,869)
Franklin Templeton Foreign Class 2 Shares 613 (78,019) (77,406)   6,304 (105,192) (98,888)
Invesco V.I. American Franchise Series I Shares - (167,499) (167,499)   - (114,318) (114,318)
Invesco V.I. American Franchise Series II Shares 20 (1,940) (1,920)   55 (12,727) (12,672)
Invesco V.I. American Value Series II Shares 682 (2,687) (2,005)   17 (51,716) (51,699)
Invesco V.I. Comstock Series II Shares 5,159 (29,443) (24,284)   6,651 (40,377) (33,726)
Invesco V.I. Core Equity Series II Shares 1,408 (25,819) (24,411)   1,363 (14,169) (12,806)
Invesco V.I. Discovery Large Cap Series I Shares 10,418 (173,828) (163,410)   20,944 (325,047) (304,103)
Invesco V.I. Discovery Large Cap Series II Shares 2,474 (11,280) (8,806)   743 (23,021) (22,278)
Invesco V.I. Discovery Mid Cap Growth Series II Shares 268 (3,165) (2,897)   233 (1,520) (1,287)
 
71
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
               
               
               
4. Change in Units (continued)               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
Invesco V.I. Equity and Income Series I Shares 3,070 (150,013) (146,943)   1,062,704 (204,083) 858,621
Invesco V.I. Equity and Income Series II Shares 4,371 (98,671) (94,300)   13,567 (83,200) (69,633)
Invesco V.I. EQV International Equity Series I Shares 390 (4,601) (4,211)   11,415 (23,250) (11,835)
Invesco V.I. EQV International Equity Series II Shares - (837) (837)   - (1,115) (1,115)
Invesco V.I. Global Series I Shares 1,600 (78,741) (77,141)   2,687 (25,545) (22,858)
Invesco V.I. Global Series II Shares 55 (193) (138)   73 (250) (177)
Invesco V.I. Global Strategic Income Series I Shares 4,140 (31,714) (27,574)   1,574 (116,205) (114,631)
Invesco V.I. Global Strategic Income Series II Shares 3,989 (20,463) (16,474)   3,127 (21,030) (17,903)
Invesco V.I. Government Securities Series I Shares 298 (13,057) (12,759)   361 (26,909) (26,548)
Invesco V.I. Government Securities Series II Shares 1,361 (16,215) (14,854)   2,346 (14,211) (11,865)
Invesco V.I. Main Street Series I Shares 42,873 (109,089) (66,216)   8,058 (119,909) (111,851)
Invesco V.I. Main Street Series II Shares 417 (4,086) (3,669)   10,449 (28,111) (17,662)
Invesco V.I. Main Street Mid Cap Series II Shares 1,270 (6,478) (5,208)   1,223 (5,678) (4,455)
Invesco V.I. Main Street Small Cap Series II Shares 41 (690) (649)   54 (1,122) (1,068)
Janus Henderson - Balanced Service Shares 1,078 (44,922) (43,844)   2,582 (113,291) (110,709)
Janus Henderson - Enterprise Service Shares - (85,054) (85,054)   - (30,218) (30,218)
Janus Henderson - Forty Service Shares - (1,520) (1,520)   - (8,308) (8,308)
Janus Henderson - Global Research Service Shares 13,374 (66,472) (53,098)   - (38,825) (38,825)
Janus Henderson - Mid Cap Value Service Shares - (402) (402)   - (437) (437)
Janus Henderson - Overseas Service Shares 1,061 (64,141) (63,080)   3,551 (84,767) (81,216)
Janus Henderson - Research Service Shares - (36,690) (36,690)   - (37,610) (37,610)
LVIP JPMorgan Core Bond Standard Shares 65,106 (226,821) (161,715)   145,450 (310,175) (164,725)
LVIP JPMorgan Mid Cap Value Standard Shares 7,157 (27,611) (20,454)   15,351 (59,432) (44,081)
LVIP JPMorgan U.S. Equity Standard Shares 11,763 (62,592) (50,829)   29,625 (153,713) (124,088)
MFS® Core Equity Initial Class - (789) (789)   - (944) (944)
MFS® Growth Initial Class 6,646 (124,330) (117,684)   12,170 (83,600) (71,430)
 
72
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
               
               
               
4. Change in Units (continued)               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
MFS® Growth Service Class - (3,924) (3,924)   - (18,032) (18,032)
MFS® Massachusetts Investors Growth Stock Initial Class - (2,290) (2,290)   - (1,842) (1,842)
MFS® Massachusetts Investors Growth Stock Service Class 5,657 (38,246) (32,589)   6,417 (58,234) (51,817)
MFS® New Discovery Initial Class 1,842 (11,302) (9,460)   3,399 (12,748) (9,349)
MFS® New Discovery Service Class 27 (5,133) (5,106)   73 (9,767) (9,694)
MFS® Research Initial Class 1,509 (30,126) (28,617)   1,494 (33,788) (32,294)
MFS® Research Service Class 120 (20,422) (20,302)   58 (11,769) (11,711)
MFS® Total Return Initial Class 91 (176,876) (176,785)   5,946 (224,282) (218,336)
MFS® Total Return Service Class 423 (56,061) (55,638)   19,301 (208,514) (189,213)
MFS® Total Return Bond Initial Class 15 (4,639) (4,624)   598 (8,028) (7,430)
MFS® Total Return Bond Service Class 14,465 (76,519) (62,054)   26,695 (51,823) (25,128)
MFS® Utilities Initial Class 3,851 (107,267) (103,416)   10,069 (80,399) (70,330)
MFS® Utilities Service Class 126 (13,070) (12,944)   7,976 (9,595) (1,619)
Putnam VT Core Equity Class IB Shares - (1) (1)   - - -
Putnam VT Diversified Income Class IB Shares 920 (12,540) (11,620)   1,286 (6,361) (5,075)
Putnam VT Focused International Equity Class IB Shares 1,478 (15,500) (14,022)   850 (21,070) (20,220)
Putnam VT George Putnam Balanced Class IB Shares 16 (14,601) (14,585)   37 (7,712) (7,675)
Putnam VT Global Health Care Class IB Shares 1,742 (14,090) (12,348)   23,350 (9,093) 14,257
Putnam VT Government Money Market Class IB Shares 653,526 (210,206) 443,320   453,290 (312,589) 140,701
Putnam VT Income Class IB Shares - (2) (2)   - (4) (4)
Putnam VT International Equity Class IB Shares - (3,249) (3,249)   - (8,180) (8,180)
Putnam VT Large Cap Growth Class IB Shares 628 (9,513) (8,885)   811 (46,061) (45,250)
Putnam VT Large Cap Value Class IB Shares 2,916 (60,977) (58,061)   8,278 (31,042) (22,764)
Putnam VT Research Class IB Shares - (192) (192)   - (185) (185)
Putnam VT Sustainable Leaders Class IB Shares - (1,106) (1,106)   - (115) (115)
TA Aegon Bond Initial Class 515,033 (497,937) 17,096   157,688 (632,826) (475,138)
 
73
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
               
               
               
4. Change in Units (continued)               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
TA Aegon Bond Service Class 108,319 (210,416) (102,097)   59,720 (180,714) (120,994)
TA Aegon Core Bond Initial Class 24,750 (84,538) (59,788)   124,841 (148,143) (23,302)
TA Aegon High Yield Bond Initial Class 80,662 (241,707) (161,045)   23,335 (192,082) (168,747)
TA Aegon High Yield Bond Service Class 738 (2,834) (2,096)   2,465 (13,766) (11,301)
TA Aegon Sustainable Equity Income Initial Class 106,987 (425,467) (318,480)   26,905 (548,878) (521,973)
TA Aegon Sustainable Equity Income Service Class 27,453 (74,706) (47,253)   26,753 (86,766) (60,013)
TA Aegon U.S. Government Securities Initial Class 428,559 (305,422) 123,137   103,110 (287,329) (184,219)
TA Aegon U.S. Government Securities Service Class 515,277 (738,363) (223,086)   63,518 (762,313) (698,795)
TA BlackRock Government Money Market Initial Class 1,042,056 (1,346,325) (304,269)   1,994,081 (2,331,863) (337,782)
TA BlackRock Government Money Market Service Class 215,569 (525,366) (309,797)   680,291 (1,483,456) (803,165)
TA BlackRock iShares Edge 40 Initial Class 36,970 (219,529) (182,559)   15,054 (74,992) (59,938)
TA BlackRock iShares Edge 40 Service Class 14,981 (16,022) (1,041)   5,143 (66,156) (61,013)
TA BlackRock Real Estate Securities Initial Class 1,005 (5,305) (4,300)   1,954 (12,463) (10,509)
TA BlackRock Real Estate Securities Service Class 7,030 (10,500) (3,470)   6,133 (11,554) (5,421)
TA International Focus Initial Class 45,991 (68,482) (22,491)   8,981 (106,115) (97,134)
TA International Focus Service Class 10,914 (5,165) 5,749   772 (16,764) (15,992)
TA Janus Mid-Cap Growth Initial Class 19,050 (229,623) (210,573)   26,667 (143,037) (116,370)
TA Janus Mid-Cap Growth Service Class 546 (33,246) (32,700)   541 (7,172) (6,631)
TA JPMorgan Asset Allocation - Conservative Initial Class 584,819 (758,779) (173,960)   52,111 (703,760) (651,649)
TA JPMorgan Asset Allocation - Conservative Service Class 63,525 (945,476) (881,951)   24,252 (1,233,281) (1,209,029)
TA JPMorgan Asset Allocation - Moderate Initial Class 473,077 (789,316) (316,239)   127,030 (978,045) (851,015)
TA JPMorgan Asset Allocation - Moderate Service Class 113,828 (2,312,547) (2,198,719)   681,096 (2,346,751) (1,665,655)
TA JPMorgan Asset Allocation - Moderate Growth Initial Class 94,262 (942,882) (848,620)   118,499 (903,709) (785,210)
TA JPMorgan Asset Allocation - Moderate Growth Service Class 378,488 (4,630,457) (4,251,969)   1,120,948 (5,513,574) (4,392,626)
TA JPMorgan Diversified Equity Allocation Initial Class 177,298 (455,861) (278,563)   14,229 (174,946) (160,717)
 
74
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
               
               
               
4. Change in Units (continued)               
               
  Year Ended December 31, 2025   Year Ended December 31, 2024
Subaccount Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)   Units Purchased Units Redeemed and Transferred to/from Net Increase (Decrease)
TA JPMorgan Diversified Equity Allocation Service Class 27,484 (518,368) (490,884)   42,171 (252,872) (210,701)
TA JPMorgan Enhanced Index Initial Class 192,621 (399,880) (207,259)   1,933,557 (380,287) 1,553,270
TA JPMorgan Enhanced Index Service Class 1,504 (46,347) (44,843)   - (37,704) (37,704)
TA JPMorgan International Moderate Growth Initial Class 8,962 (14,356) (5,394)   346 (67,145) (66,799)
TA JPMorgan International Moderate Growth Service Class 18,500 (506,229) (487,729)   42,636 (550,265) (507,629)
TA JPMorgan Tactical Allocation Initial Class 7,281 (44,264) (36,983)   3,908 (25,454) (21,546)
TA JPMorgan Tactical Allocation Service Class 6,530 (47,147) (40,617)   14,655 (96,151) (81,496)
TA Multi-Managed Balanced Initial Class 69,181 (219,535) (150,354)   1,065 (101,433) (100,368)
TA Multi-Managed Balanced Service Class 613 (607,591) (606,978)   33,000 (1,099,766) (1,066,766)
TA Small/Mid Cap Value Initial Class 761 (16,285) (15,524)   839 (44,920) (44,081)
TA T. Rowe Price Small Cap Initial Class 17,129 (52,271) (35,142)   17,506 (139,672) (122,166)
TA T. Rowe Price Small Cap Service Class 283 (9,056) (8,773)   74 (7,468) (7,394)
TA TSW International Equity Initial Class 12,862 (76,435) (63,573)   30,156 (124,767) (94,611)
TA TSW International Equity Service Class 4,748 (37,495) (32,747)   3,068 (48,030) (44,962)
TA TSW Mid Cap Value Opportunities Initial Class 7,732 (27,607) (19,875)   24,440 (79,344) (54,904)
TA WMC US Growth Initial Class 109,830 (1,630,845) (1,521,015)   113,035 (1,391,596) (1,278,561)
TA WMC US Growth Service Class 18,743 (166,074) (147,331)   16,454 (226,096) (209,642)
 
 
75
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
AB Large Cap Growth Class B Shares $ - $ (216,324) $ (216,324)   $ 102 $ (402,877) $ (402,775)
AB Relative Value Class B Shares   223,950   (376,182)   (152,232)     600,505   (871,481)   (270,976)
AB Sustainable Global Thematic Growth Class B Shares 4,267   (33,785)   (29,518)     25,462   (109,126)   (83,664)
Allspring VT Discovery All Cap Growth Class 1 Shares   3,303   (54,732)   (51,429)     857   (130,303)   (129,446)
Allspring VT Discovery All Cap Growth Class 2 Shares 8,199   (13,861)   (5,662)     -   (60,787)   (60,787)
Allspring VT Opportunity Class 1 Shares   38,143   (67,308)   (29,165)     3,585   (118,363)   (114,778)
Allspring VT Opportunity Class 2 Shares   -   (3,849)   (3,849)     2,024   (30,596)   (28,572)
Allspring VT Small Cap Growth Class 1 Shares   33,094   (50,123)   (17,029)     1,115   (73,022)   (71,907)
Allspring VT Small Cap Growth Class 2 Shares   -   (3,346)   (3,346)     877   (26,821)   (25,944)
BNY Mellon Small Cap Initial Shares   5,422   (192,647)   (187,225)     6,577   (33,275)   (26,698)
BNY Mellon Stock Index Initial Shares   2,080   (321,095)   (319,015)     3,016   (363,285)   (360,269)
BNY Mellon Stock Index Service Shares   725   (2,897)   (2,172)     2,751   (2,760)   (9)
BNY Mellon Sustainable U.S. Equity Initial Shares -   (1,748)   (1,748)     -   (62,940)   (62,940)
BNY Mellon VIF Appreciation Initial Shares   1,236   (337,298)   (336,062)     119,939   (440,679)   (320,740)
BNY Mellon VIF Government Money Market   145,914   (83,735)   62,179     114,332   (283,834)   (169,502)
BNY Mellon VIF Growth and Income Initial Shares   2,864   (475,001)   (472,137)     264,389   (147,123)   117,266
Columbia - Acorn   33,744   (161,009)   (127,265)     26,997   (126,077)   (99,080)
Columbia - Dividend Opportunity Class 1 Shares   1,394   (61,166)   (59,772)     1,865   (97,956)   (96,091)
Columbia - Income Opportunity Class 1 Shares   9,299   (52,189)   (42,890)     38,282   (228,550)   (190,268)
Columbia - Large Cap Growth Class 1 Shares   21,368   (234,788)   (213,420)     63,755   (735,100)   (671,345)
Columbia - Overseas Core Class 2 Shares   9,303   (87,128)   (77,825)     13,462   (62,654)   (49,192)
Columbia - Select Mid Cap Growth Class 1 Shares   1,136   (47,477)   (46,341)     5,131   (151,061)   (145,930)
Columbia - Select Mid Cap Value Class 1 Shares   1,145   (67,051)   (65,906)     1,344   (44,913)   (43,569)
Columbia - Small Cap Value Class 1 Shares   35,396   (129,881)   (94,485)     10,481   (92,218)   (81,737)
Columbia - Small Company Growth Class 1 Shares -   (2,738)   (2,738)     -   (2,604)   (2,604)
Columbia - Strategic Income Class 1 Shares   11,292   (72,678)   (61,386)     20,981   (46,649)   (25,668)
CTIVP® - Principal Large Cap Growth Class 1 Shares 3,595   (224,374)   (220,779)     10,054   (303,631)   (293,577)
 
76
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
Davis Equity   5,776   (187,884)   (182,108)     40,349   (594,890)   (554,541)
Federated Hermes Government Money II Service Shares $ 30,808 $ (206,923) $ (176,115)   $ 75,900 $ (290,171) $ (214,271)
Federated Hermes High Income Bond II Primary Shares   17,343   (239,003)   (221,660)     16,175   (167,271)   (151,096)
Federated Hermes Kaufmann II Primary Shares   8,015   (131,140)   (123,125)     29,292   (240,978)   (211,686)
Federated Hermes Kaufmann II Service Shares   20,716   (153,139)   (132,423)     25,174   (180,384)   (155,210)
Federated Hermes Managed Volatility II Primary Shares 3,972   (33,181)   (29,209)     687   (141,628)   (140,941)
Federated Hermes Managed Volatility II Service Shares   3,118   (30,975)   (27,857)     2,270   (32,014)   (29,744)
Federated Hermes Quality Bond II Primary Shares -   (4,792)   (4,792)     -   (3,613)   (3,613)
Fidelity® VIP Asset Manager 50% Initial Class   248,850   (286,873)   (38,023)     1,588   (163,150)   (161,562)
Fidelity® VIP Asset Manager 70% Initial Class   -   (140,004)   (140,004)     -   (138,091)   (138,091)
Fidelity® VIP Balanced Initial Class   45,778   (270,826)   (225,048)     68,398   (181,747)   (113,349)
Fidelity® VIP Balanced Service Class 2   109,118   (23,754)   85,364     31,643   (60,177)   (28,534)
Fidelity® VIP Contrafund® Initial Class   455   (880,194)   (879,739)     14,643   (1,014,537)   (999,894)
Fidelity® VIP Contrafund® Service Class 2   225,117   (4,088,482)   (3,863,365)     1,120,670   (1,181,349)   (60,679)
Fidelity® VIP Equity-Income Initial Class   40,452   (241,965)   (201,513)     2,145   (285,005)   (282,860)
Fidelity® VIP Equity-Income Service Class 2   67,020   (518,914)   (451,894)     33,337   (944,009)   (910,672)
Fidelity® VIP Government Money Market Initial Class   51,705   (186,312)   (134,607)     254,889   (334,551)   (79,662)
Fidelity® VIP Government Money Market Service Class 2 2,361   (21,948)   (19,587)     5,203   (25,376)   (20,173)
Fidelity® VIP Growth Initial Class   113,845   (743,621)   (629,776)     32,445   (820,629)   (788,184)
Fidelity® VIP Growth Service Class 2   2,757   (693,298)   (690,541)     4,845   (433,758)   (428,913)
Fidelity® VIP Growth & Income Initial Class   3,755   (282,853)   (279,098)     47,632   (420,078)   (372,446)
Fidelity® VIP Growth & Income Service Class 2   -   (88,242)   (88,242)     -   (19,516)   (19,516)
Fidelity® VIP Growth Opportunities Initial Class   3,484   (365,428)   (361,944)     10,724   (253,106)   (242,382)
Fidelity® VIP Growth Opportunities Service Class   3,112   (173,046)   (169,934)     71,033   (411,548)   (340,515)
Fidelity® VIP Growth Opportunities Service Class 2   3,309   (37,841)   (34,532)     3,600   (20,492)   (16,892)
Fidelity® VIP High Income Initial Class   71,673   (142,855)   (71,182)     19,243   (97,010)   (77,767)
Fidelity® VIP High Income Service Class   2,703   (41,498)   (38,795)     26,574   (110,988)   (84,414)
 
77
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
Fidelity® VIP High Income Service Class 2   1,923   (5,728)   (3,805)     3,973   (108,141)   (104,168)
Fidelity® VIP Index 500 Initial Class   36,588   (1,834,634)   (1,798,046)     389,155   (2,370,108)   (1,980,953)
Fidelity® VIP Index 500 Service Class 2 $ 157,114 $ (95,058) $ 62,056   $ 99,185 $ (808,419) $ (709,234)
Fidelity® VIP Investment Grade Bond Initial Class   20,663   (286,953)   (266,290)     16,600   (331,285)   (314,685)
Fidelity® VIP Investment Grade Bond Service Class 2 204   (44,470)   (44,266)     16,894   (70,684)   (53,790)
Fidelity® VIP Mid Cap Initial Class   5,938   (309,005)   (303,067)     10,325   (201,973)   (191,648)
Fidelity® VIP Mid Cap Service Class 2   200,106   (786,112)   (586,006)     108,841   (1,085,496)   (976,655)
Fidelity® VIP Overseas Initial Class   405   (103,113)   (102,708)     21,507   (32,983)   (11,476)
Fidelity® VIP Value Strategies Service Class 2   193,875   (420,664)   (226,789)     24,877   (145,818)   (120,941)
Franklin Income Class 2 Shares   -   (13,516)   (13,516)     -   (2,041)   (2,041)
Franklin Mutual Shares Class 2 Shares   1,835   (341,510)   (339,675)     1,656   (460,878)   (459,222)
Franklin Rising Dividends Class 2 Shares   1,943   (189,151)   (187,208)     84,079   (113,268)   (29,189)
Franklin Small Cap Value Class 2 Shares   7,966   (54,412)   (46,446)     38,584   (150,031)   (111,447)
Franklin Small-Mid Cap Growth Class 2 Shares   20,970   (258,241)   (237,271)     64,340   (545,944)   (481,604)
Franklin Templeton Developing Markets Class 2 Shares 324   (24,171)   (23,847)     24,691   (32,697)   (8,006)
Franklin Templeton Foreign Class 2 Shares   919   (148,485)   (147,566)     12,360   (203,691)   (191,331)
Invesco V.I. American Franchise Series I Shares   -   (742,116)   (742,116)     -   (462,790)   (462,790)
Invesco V.I. American Franchise Series II Shares   66   (8,769)   (8,703)     190   (53,316)   (53,126)
Invesco V.I. American Value Series II Shares   9,264   (41,547)   (32,283)     212   (631,827)   (631,615)
Invesco V.I. Comstock Series II Shares   23,196   (132,502)   (109,306)     26,993   (160,478)   (133,485)
Invesco V.I. Core Equity Series II Shares   5,807   (116,030)   (110,223)     5,021   (51,265)   (46,244)
Invesco V.I. Discovery Large Cap Series I Shares   64,928   (1,161,808)   (1,096,880)     127,409   (1,828,685)   (1,701,276)
Invesco V.I. Discovery Large Cap Series II Shares   15,372   (63,338)   (47,966)     4,283   (112,031)   (107,748)
Invesco V.I. Discovery Mid Cap Growth Series II Shares   3,912   (51,851)   (47,939)     3,350   (22,424)   (19,074)
Invesco V.I. Equity and Income Series I Shares   3,071   (162,844)   (159,773)     1,065,544   (212,169)   853,375
Invesco V.I. Equity and Income Series II Shares   16,000   (343,841)   (327,841)     36,895   (273,608)   (236,713)
Invesco V.I. EQV International Equity Series I Shares 672   (10,869)   (10,197)     31,329   (65,179)   (33,850)
 
78
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
Invesco V.I. EQV International Equity Series II Shares   -   (3,288)   (3,288)     -   (4,061)   (4,061)
Invesco V.I. Global Series I Shares   3,848   (587,973)   (584,125)     9,114   (173,414)   (164,300)
Invesco V.I. Global Series II Shares   295   (936)   (641)     317   (1,191)   (874)
Invesco V.I. Global Strategic Income Series I Shares $ 9,262 $ (67,608) $ (58,346)   $ 3,010 $ (239,418) $ (236,408)
Invesco V.I. Global Strategic Income Series II Shares   6,433   (33,124)   (26,691)     4,125   (32,249)   (28,124)
Invesco V.I. Government Securities Series I Shares 454   (20,438)   (19,984)     538   (41,086)   (40,548)
Invesco V.I. Government Securities Series II Shares   1,437   (19,255)   (17,818)     2,277   (15,946)   (13,669)
Invesco V.I. Main Street Series I Shares   249,795   (569,981)   (320,186)     30,205   (564,800)   (534,595)
Invesco V.I. Main Street Series II Shares   3,980   (30,112)   (26,132)     49,284   (134,815)   (85,531)
Invesco V.I. Main Street Mid Cap Series II Shares   4,573   (23,723)   (19,150)     4,069   (18,913)   (14,844)
Invesco V.I. Main Street Small Cap Series II Shares   693   (5,194)   (4,501)     813   (7,292)   (6,479)
Janus Henderson - Balanced Service Shares   4,568   (177,690)   (173,122)     9,019   (412,730)   (403,711)
Janus Henderson - Enterprise Service Shares   -   (279,963)   (279,963)     -   (85,524)   (85,524)
Janus Henderson - Forty Service Shares   -   (9,321)   (9,321)     -   (41,282)   (41,282)
Janus Henderson - Global Research Service Shares   30,263   (145,452)   (115,189)     -   (88,467)   (88,467)
Janus Henderson - Mid Cap Value Service Shares   -   (1,347)   (1,347)     -   (1,428)   (1,428)
Janus Henderson - Overseas Service Shares   2,241   (146,580)   (144,339)     6,439   (151,899)   (145,460)
Janus Henderson - Research Service Shares   -   (135,426)   (135,426)     -   (121,318)   (121,318)
LVIP JPMorgan Core Bond Standard Shares   104,287   (350,146)   (245,859)     224,848   (466,595)   (241,747)
LVIP JPMorgan Mid Cap Value Standard Shares   35,979   (136,762)   (100,783)     76,277   (284,487)   (208,210)
LVIP JPMorgan U.S. Equity Standard Shares   50,217   (296,071)   (245,854)     122,407   (644,142)   (521,735)
MFS® Core Equity Initial Class   -   (2,309)   (2,309)     -   (2,475)   (2,475)
MFS® Growth Initial Class   54,986   (1,011,102)   (956,116)     82,993   (635,611)   (552,618)
MFS® Growth Service Class   -   (37,332)   (37,332)     -   (135,881)   (135,881)
MFS® Massachusetts Investors Growth Stock Initial Class   -   (7,103)   (7,103)     -   (5,258)   (5,258)
MFS® Massachusetts Investors Growth Stock Service Class 17,178   (119,500)   (102,322)     19,741   (166,640)   (146,899)
MFS® New Discovery Initial Class   5,037   (39,147)   (34,110)     11,419   (41,916)   (30,497)
 
79
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
MFS® New Discovery Service Class   61   (24,235)   (24,174)     186   (46,455)   (46,269)
MFS® Research Initial Class   6,173   (177,305)   (171,132)     5,808   (168,749)   (162,941)
MFS® Research Service Class   672   (134,706)   (134,034)     288   (71,275)   (70,987)
MFS® Total Return Initial Class   207   (637,356)   (637,149)     21,934   (751,558)   (729,624)
MFS® Total Return Service Class $ 975 $ (161,295) $ (160,320)   $ 46,289 $ (546,525) $ (500,236)
MFS® Total Return Bond Initial Class   31   (9,629)   (9,598)     1,244   (16,028)   (14,784)
MFS® Total Return Bond Service Class   22,641   (118,694)   (96,053)     39,918   (78,158)   (38,240)
MFS® Utilities Initial Class   22,968   (694,175)   (671,207)     58,660   (479,686)   (421,026)
MFS® Utilities Service Class   1,286   (97,950)   (96,664)     53,945   (63,281)   (9,336)
Putnam VT Core Equity Class IB Shares   -   (1)   (1)     -   2   2
Putnam VT Diversified Income Class IB Shares   1,466   (22,552)   (21,086)     1,750   (10,097)   (8,347)
Putnam VT Focused International Equity Class IB Shares   3,528   (40,558)   (37,030)     1,802   (49,366)   (47,564)
Putnam VT George Putnam Balanced Class IB Shares 30   (46,877)   (46,847)     68   (23,412)   (23,344)
Putnam VT Global Health Care Class IB Shares   3,543   (69,263)   (65,720)     45,969   (32,911)   13,058
Putnam VT Government Money Market Class IB Shares 708,866   (203,965)   504,901     450,555   (298,801)   151,754
Putnam VT Income Class IB Shares   -   (3)   (3)     -   (8)   (8)
Putnam VT International Equity Class IB Shares   -   (7,488)   (7,488)     -   (15,394)   (15,394)
Putnam VT Large Cap Growth Class IB Shares   4,200   (51,620)   (47,420)     4,738   (281,846)   (277,108)
Putnam VT Large Cap Value Class IB Shares   17,381   (398,592)   (381,211)     52,378   (177,479)   (125,101)
Putnam VT Research Class IB Shares   -   (921)   (921)     -   (872)   (872)
Putnam VT Sustainable Leaders Class IB Shares   -   (9,291)   (9,291)     -   (863)   (863)
TA Aegon Bond Initial Class   689,565   (750,972)   (61,407)     217,053   (930,419)   (713,366)
TA Aegon Bond Service Class   174,963   (322,870)   (147,907)     92,346   (258,325)   (165,979)
TA Aegon Core Bond Initial Class   32,782   (121,623)   (88,841)     184,889   (214,189)   (29,300)
TA Aegon High Yield Bond Initial Class   200,491   (619,795)   (419,304)     53,497   (464,523)   (411,026)
TA Aegon High Yield Bond Service Class   2,071   (7,070)   (4,999)     6,034   (32,799)   (26,765)
TA Aegon Sustainable Equity Income Initial Class 288,055   (1,275,327)   (987,272)     71,919   (1,482,056)   (1,410,137)
 
80
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
TA Aegon Sustainable Equity Income Service Class   92,104   (219,464)   (127,360)     82,662   (230,740)   (148,078)
TA Aegon U.S. Government Securities Initial Class 583,595   (388,501)   195,094     134,956   (348,800)   (213,844)
TA Aegon U.S. Government Securities Service Class   674,444   (951,485)   (277,041)     78,513   (961,621)   (883,108)
TA BlackRock Government Money Market Initial Class 931,101   (1,198,727)   (267,626)     1,713,442   (2,096,573)   (383,131)
TA BlackRock Government Money Market Service Class   224,219   (558,012)   (333,793)     731,157   (1,560,784)   (829,627)
TA BlackRock iShares Edge 40 Initial Class $ 71,189 $ (432,838) $ (361,649)   $ 29,175 $ (143,261) $ (114,086)
TA BlackRock iShares Edge 40 Service Class   22,762   (29,272)   (6,510)     8,962   (103,476)   (94,514)
TA BlackRock Real Estate Securities Initial Class   3,107   (15,116)   (12,009)     5,765   (38,410)   (32,645)
TA BlackRock Real Estate Securities Service Class   19,203   (23,562)   (4,359)     16,098   (26,805)   (10,707)
TA International Focus Initial Class   82,656   (122,819)   (40,163)     16,425   (196,877)   (180,452)
TA International Focus Service Class   27,635   (12,245)   15,390     2,013   (42,188)   (40,175)
TA Janus Mid-Cap Growth Initial Class   105,933   (1,186,612)   (1,080,679)     138,517   (680,585)   (542,068)
TA Janus Mid-Cap Growth Service Class   2,474   (153,549)   (151,075)     2,254   (33,014)   (30,760)
TA JPMorgan Asset Allocation - Conservative Initial Class 953,848   (1,423,120)   (469,272)     142,210   (1,401,912)   (1,259,702)
TA JPMorgan Asset Allocation - Conservative Service Class   99,608   (1,782,608)   (1,683,000)     40,444   (2,313,474)   (2,273,030)
TA JPMorgan Asset Allocation - Moderate Initial Class 1,197,924   (1,852,749)   (654,825)     299,201   (2,244,471)   (1,945,270)
TA JPMorgan Asset Allocation - Moderate Service Class   280,582   (5,522,965)   (5,242,383)     1,281,935   (5,364,644)   (4,082,709)
TA JPMorgan Asset Allocation - Moderate Growth Initial Class   169,392   (2,708,448)   (2,539,056)     278,551   (2,488,740)   (2,210,189)
TA JPMorgan Asset Allocation - Moderate Growth Service Class   1,282,763   (12,707,017)   (11,424,254)     2,984,752   (14,341,683)   (11,356,931)
TA JPMorgan Diversified Equity Allocation Initial Class 709,234   (1,719,591)   (1,010,357)     31,777   (607,853)   (576,076)
TA JPMorgan Diversified Equity Allocation Service Class   100,038   (1,959,189)   (1,859,151)     163,311   (845,473)   (682,162)
TA JPMorgan Enhanced Index Initial Class   721,005   (1,627,220)   (906,215)     6,933,134   (1,433,266)   5,499,868
TA JPMorgan Enhanced Index Service Class   7,858   (293,977)   (286,119)     -   (202,622)   (202,622)
TA JPMorgan International Moderate Growth Initial Class 12,511   (20,676)   (8,165)     474   (97,901)   (97,427)
TA JPMorgan International Moderate Growth Service Class   28,017   (776,807)   (748,790)     59,694   (778,630)   (718,936)
 
81
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
                           
                           
                           
4. Change in Unit Dollars (continued)                           
                           
    Year Ended December 31, 2025     Year Ended December 31, 2024
Subaccount   Units Purchased in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)     Units Purchased  in Dollars   Units Redeemed and Transferred to/from in Dollars   Dollar Net Increase (Decrease)
TA JPMorgan Tactical Allocation Initial Class   13,711   (83,431)   (69,720)     6,822   (46,019)   (39,197)
TA JPMorgan Tactical Allocation Service Class   11,304   (79,198)   (67,894)     22,170   (162,925)   (140,755)
TA Multi-Managed Balanced Initial Class   261,921   (885,720)   (623,799)     3,259   (380,812)   (377,553)
TA Multi-Managed Balanced Service Class   2,073   (2,295,648)   (2,293,575)     96,686   (4,114,445)   (4,017,759)
TA Small/Mid Cap Value Initial Class   4,271   (227,633)   (223,362)     8,551   (425,785)   (417,234)
TA T. Rowe Price Small Cap Initial Class   61,550   (220,644)   (159,094)     69,675   (675,125)   (605,450)
TA T. Rowe Price Small Cap Service Class $ 1,580 $ (55,823) $ (54,243)   $ 401 $ (40,652) $ (40,251)
TA TSW International Equity Initial Class   23,330   (127,857)   (104,527)     45,146   (179,482)   (134,336)
TA TSW International Equity Service Class   11,080   (84,886)   (73,806)     6,940   (101,295)   (94,355)
TA TSW Mid Cap Value Opportunities Initial Class   29,545   (111,100)   (81,555)     99,155   (338,462)   (239,307)
TA WMC US Growth Initial Class   448,385   (6,963,796)   (6,515,411)     388,332   (5,225,390)   (4,837,058)
TA WMC US Growth Service Class   131,904   (1,234,710)   (1,102,806)     108,987   (1,414,364)   (1,305,377)
 
82
 
 
Transamerica Life Insurance Company
Retirement Builder Variable Annuity Account
Notes to Financial Statements
December 31, 2025
 
5. Financial Highlights
 
The Separate Account offers various death benefit options, which have differing fees that are charged against the contract owner's account balance. These charges are discussed in more detail in the individual's policy. Differences in the fee structures for these units result in different unit values, expense ratios, and total returns.
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
AB Large Cap Growth Class B Shares                                  
    12/31/2025 605,219 $9.09 to $32.33 $       2,896,068   - % 0.85 % to 2.95 % 11.90 % to 9.62 %
    12/31/2024 652,827 8.12 to 29.49 2,813,989   -   0.85   to 2.95   23.89   to 21.35  
    12/31/2023 755,403 6.55 to 24.30 2,656,726   -   0.85   to 2.95   33.66   to 30.94  
    12/31/2022 803,298 4.90 to 18.56 2,132,627   -   0.85   to 2.95   (29.29)   to (30.73)  
    12/31/2021 853,726 6.94 to 26.79 3,263,647   -   0.85   to 2.95   27.57   to 24.97  
AB Relative Value Class B Shares                                  
    12/31/2025 543,690 4.62 to 3.79 2,040,489   0.88   0.85   to 2.95   9.27   to 7.04  
    12/31/2024 591,485 4.23 to 3.54 2,031,330   1.13   0.85   to 2.95   11.81   to 9.52  
    12/31/2023 668,414 3.78 to 3.23 2,067,196   1.41   0.85   to 2.95   10.78   to 8.53  
    12/31/2022 776,247 3.41 to 2.98 2,158,785   1.08   0.85   to 2.95   (5.22)   to (7.15)  
    12/31/2021 860,559 3.60 to 3.21 2,506,746   0.69   0.85   to 2.95   26.76   to 24.18  
AB Sustainable Global Thematic Growth Class B Shares                            
    12/31/2025 424,596 4.14 to 20.27 743,142   -   1.05   to 2.65   4.92   to 3.29  
    12/31/2024 446,398 3.95 to 19.62 741,426   -   1.05   to 2.65   4.85   to 3.21  
    12/31/2023 493,958 3.77 to 19.01 788,692   0.03   1.05   to 2.65   14.50   to 12.72  
    12/31/2022 513,388 3.29 to 16.86 724,909   -   1.05   to 2.65   (27.92)   to (29.05)  
    12/31/2021 594,713 4.56 to 23.77 1,135,084   -   1.05   to 2.65   21.30   to 19.41  
Allspring VT Discovery All Cap Growth Class 1 Shares                              
    12/31/2025 180,335 7.04 to 4.00 1,355,747   -   1.25   to 2.50   14.10   to 12.71  
    12/31/2024 189,253 6.17 to 3.55 1,238,235   -   1.25   to 2.50   19.80   to 18.33  
    12/31/2023 211,450 5.15 to 3.00 1,153,057   -   1.25   to 2.50   31.85   to 30.25  
    12/31/2022 229,861 3.91 to 2.30 945,784   -   1.25   to 2.50   (37.82)   to (38.58)  
    12/31/2021 268,199 6.29 to 3.75 1,750,141   -   1.25   to 2.50   13.85   to 12.46  
Allspring VT Discovery All Cap Growth Class 2 Shares                              
    12/31/2025 20,888 10.07 to 28.05 192,208   -   1.05   to 2.50   14.07   to 12.46  
    12/31/2024 21,546 8.83 to 24.95 174,507   -   1.05   to 2.50   19.74   to 18.03  
    12/31/2023 29,899 7.37 to 21.13 202,783   -   1.05   to 2.50   31.79   to 29.93  
    12/31/2022 32,634 5.59 to 16.27 168,817   -   1.05   to 2.50   (37.85)   to (38.73)  
    12/31/2021 41,559 9.00 to 26.55 346,827   -   1.05   to 2.50   13.78   to 12.17  
Allspring VT Opportunity Class 1 Shares                                  
    12/31/2025 367,406 4.52 to 3.79 1,601,089   0.30   1.25   to 2.50   5.68   to 4.40  
    12/31/2024 373,681 4.28 to 3.63 1,547,739   0.27   1.25   to 2.50   13.91   to 12.52  
    12/31/2023 403,660 3.75 to 3.23 1,470,104   -   1.25   to 2.50   25.27   to 23.75  
    12/31/2022 449,435 3.00 to 2.61 1,310,221   -   1.25   to 2.50   (21.59)   to (22.54)  
    12/31/2021 491,012 3.82 to 3.37 1,830,364   0.25   1.25   to 2.50   23.52   to 22.02  
Allspring VT Opportunity Class 2 Shares                                  
    12/31/2025 15,232 4.48 to 21.45 64,092   0.05   1.05   to 2.50   5.60   to 4.11  
    12/31/2024 16,226 4.24 to 20.61 64,997   0.05   1.05   to 2.50   13.85   to 12.23  
    12/31/2023 24,318 3.73 to 18.36 85,865   -   1.05   to 2.50   25.19   to 23.42  
    12/31/2022 33,129 2.98 to 14.88 94,309   -   1.05   to 2.50   (21.63)   to (22.74)  
    12/31/2021 36,202 3.80 to 19.26 132,082   0.04   1.05   to 2.50   23.48   to 21.74  
Allspring VT Small Cap Growth Class 1 Shares                                
    12/31/2025 206,508 4.19 to 2.64 797,764   -   1.25   to 2.50   8.20   to 6.88  
    12/31/2024 208,750 3.87 to 2.47 756,567   -   1.25   to 2.50   17.59   to 16.15  
    12/31/2023 231,134 3.29 to 2.13 711,673   -   1.25   to 2.50   3.07   to 1.82  
    12/31/2022 409,118 3.19 to 2.09 1,237,821   -   1.25   to 2.50   (35.11)   to (35.90)  
    12/31/2021 468,202 4.92 to 3.26 2,186,457   -   1.25   to 2.50   6.60   to 5.30  

 

83
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Allspring VT Small Cap Growth Class 2 Shares                                
    12/31/2025 23,899 $3.99 to $18.90 $             92,063   - % 1.05 % to 2.50 % 8.12 % to 6.59 %
    12/31/2024 24,847 3.69 to 17.73 88,781   -   1.05   to 2.50   17.46   to 15.79  
    12/31/2023 33,311 3.14 to 15.31 101,202   -   1.05   to 2.50   3.03   to 1.57  
    12/31/2022 34,631 3.05 to 15.08 102,402   -   1.05   to 2.50   (35.10)   to (36.02)  
    12/31/2021 36,379 4.69 to 23.57 166,191   -   1.05   to 2.50   6.52   to 5.01  
BNY Mellon Small Cap Initial Shares                                  
    12/31/2025 390,568 3.14 to 14.07 1,227,337   0.67   1.40   to 2.65   9.45   to 8.12  
    12/31/2024 451,918 2.87 to 13.02 1,299,126   0.68   1.40   to 2.65   3.16   to 1.90  
    12/31/2023 461,149 2.78 to 12.77 1,285,220   0.34   1.40   to 2.65   7.78   to 6.47  
    12/31/2022 493,145 2.58 to 12.00 1,275,298   -   1.40   to 2.65   (17.77)   to (18.77)  
    12/31/2021 532,421 3.14 to 14.77 1,674,329   0.11   1.40   to 2.65   14.85   to 13.46  
BNY Mellon Stock Index Initial Shares                                  
    12/31/2025 246,280 7.36 to 5.99 1,767,998   1.01   1.25   to 2.50   16.08   to 14.67  
    12/31/2024 296,093 6.34 to 5.22 1,836,594   1.15   1.25   to 2.50   23.11   to 21.61  
    12/31/2023 359,005 5.15 to 4.30 1,808,774   1.43   1.25   to 2.50   24.38   to 22.87  
    12/31/2022 370,487 4.14 to 3.50 1,501,151   1.33   1.25   to 2.50   (19.32)   to (20.31)  
    12/31/2021 397,057 5.13 to 4.39 1,994,787   1.13   1.25   to 2.50   26.83   to 25.28  
BNY Mellon Stock Index Service Shares                                  
    12/31/2025 6,023 6.52 to 4.84 29,154   0.77   1.25   to 2.50   15.79   to 14.38  
    12/31/2024 6,509 5.63 to 4.23 27,547   0.90   1.25   to 2.50   22.80   to 21.30  
    12/31/2023 6,513 4.58 to 3.49 22,726   1.15   1.25   to 2.50   24.06   to 22.55  
    12/31/2022 7,193 3.69 to 2.85 20,479   1.10   1.25   to 2.50   (19.53)   to (20.51)  
    12/31/2021 6,286 4.59 to 3.58 22,515   0.81   1.25   to 2.50   26.54   to 24.99  
BNY Mellon Sustainable U.S. Equity Initial Shares                                
    12/31/2025 73,506 3.32 to 25.22 243,927   0.25   1.40   to 2.65   14.37   to 12.98  
    12/31/2024 74,033 2.90 to 22.32 214,806   0.53   1.40   to 2.65   23.16   to 21.65  
    12/31/2023 95,675 2.36 to 18.35 225,405   0.73   1.40   to 2.65   22.12   to 20.64  
    12/31/2022 99,304 1.93 to 15.21 191,582   0.52   1.40   to 2.65   (23.94)   to (24.86)  
    12/31/2021 90,555 2.54 to 20.24 229,679   0.76   1.40   to 2.65   25.24   to 23.72  
BNY Mellon VIF Appreciation Initial Shares                                
    12/31/2025 293,330 6.37 to 24.47 1,868,696   0.36   1.40   to 2.65   8.55   to 7.23  
    12/31/2024 346,755 5.87 to 22.82 2,034,979   0.42   1.40   to 2.65   11.24   to 9.88  
    12/31/2023 405,541 5.28 to 20.77 2,139,486   0.71   1.40   to 2.65   19.30   to 17.86  
    12/31/2022 433,645 4.42 to 17.62 1,917,574   0.66   1.40   to 2.65   (19.19)   to (20.18)  
    12/31/2021 475,862 5.47 to 22.07 2,604,111   0.44   1.40   to 2.65   25.38   to 23.85  
BNY Mellon VIF Government Money Market                                
    12/31/2025 594,646 1.18 to 0.76 677,274   3.86   1.25   to 2.50   2.65   to 1.39  
    12/31/2024 537,158 1.15 to 0.75 598,500   4.68   1.25   to 2.50   3.46   to 2.20  
    12/31/2023 689,481 1.12 to 0.73 746,426   4.50   1.25   to 2.50   3.31   to 2.05  
    12/31/2022 784,593 1.08 to 0.72 824,876   1.23   1.25   to 2.50   0.02   to (1.20)  
    12/31/2021 849,145 1.08 to 0.73 893,513   0.01   1.25   to 2.50   (1.23)   to (2.43)  
BNY Mellon VIF Growth and Income Initial Shares                                
    12/31/2025 168,758 6.52 to 27.82 1,099,918   0.43   1.40   to 2.65   15.22   to 13.82  
    12/31/2024 242,144 5.66 to 24.44 1,369,726   0.55   1.40   to 2.65   21.02   to 19.54  
    12/31/2023 224,999 4.67 to 20.45 1,051,659   0.66   1.40   to 2.65   24.94   to 23.43  
    12/31/2022 232,577 3.74 to 16.56 870,067   0.79   1.40   to 2.65   (15.99)   to (17.01)  
    12/31/2021 250,827 4.45 to 19.96 1,116,956   0.47   1.40   to 2.65   23.90   to 22.39  
Columbia - Acorn                                    
    12/31/2025 207,831 6.29 to 15.88 922,240   -   1.05   to 2.50   3.38   to 1.92  
    12/31/2024 236,258 6.08 to 15.59 1,019,379   -   1.05   to 2.50   12.99   to 11.38  
    12/31/2023 261,132 5.38 to 13.99 996,623   -   1.05   to 2.50   20.47   to 18.78  
    12/31/2022 344,887 4.47 to 11.78 1,090,331   -   1.05   to 2.50   (34.15)   to (35.09)  
    12/31/2021 364,302 6.78 to 18.15 1,753,789   0.70   1.05   to 2.50   7.77   to 6.24  

 

84
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Columbia - Dividend Opportunity Class 1 Shares                                
    12/31/2025 266,143 $3.13 to $18.93 $           846,286   - % 1.05 % to 2.50 % 14.63 % to 13.01 %
    12/31/2024 285,994 2.73 to 16.75 797,259   -   1.05   to 2.50   14.21   to 12.59  
    12/31/2023 323,782 2.39 to 14.88 790,279   -   1.05   to 2.50   4.00   to 2.53  
    12/31/2022 345,561 2.30 to 14.51 816,353   -   1.05   to 2.50   (2.14)   to (3.52)  
    12/31/2021 364,669 2.35 to 15.04 892,198   -   1.05   to 2.50   24.85   to 23.09  
Columbia - Income Opportunity Class 1 Shares                                
    12/31/2025 696,360 1.55 to 1.30 1,033,724   2.01   1.05   to 2.50   7.65   to 6.13  
    12/31/2024 726,583 1.44 to 1.22 1,005,222   5.44   1.05   to 2.50   4.80   to 3.31  
    12/31/2023 865,367 1.38 to 1.18 1,148,887   5.16   1.05   to 2.50   10.40   to 8.85  
    12/31/2022 898,151 1.25 to 1.09 1,084,860   5.35   1.05   to 2.50   (10.95)   to (12.20)  
    12/31/2021 958,319 1.40 to 1.24 1,303,953   9.15   1.05   to 2.50   3.41   to 1.95  
Columbia - Large Cap Growth Class 1 Shares                                
    12/31/2025 1,189,284 4.11 to 3.58 4,708,258   -   1.05   to 2.50   14.93   to 13.31  
    12/31/2024 1,248,876 3.58 to 3.16 4,317,736   -   1.05   to 2.50   29.96   to 28.11  
    12/31/2023 1,458,038 2.75 to 2.47 3,896,627   -   1.05   to 2.50   41.68   to 39.69  
    12/31/2022 1,614,269 1.94 to 1.77 3,057,565   -   1.05   to 2.50   (32.10)   to (33.06)  
    12/31/2021 1,659,549 2.86 to 2.64 4,648,354   -   1.05   to 2.50   27.39   to 25.59  
Columbia - Overseas Core Class 2 Shares                                
    12/31/2025 848,064 1.92 to 1.67 1,565,850   1.72   1.05   to 2.50   36.43   to 34.50  
    12/31/2024 896,483 1.41 to 1.24 1,217,492   4.17   1.05   to 2.50   2.16   to 0.71  
    12/31/2023 933,025 1.38 to 1.24 1,244,861   1.70   1.05   to 2.50   14.13   to 12.52  
    12/31/2022 1,011,551 1.21 to 1.10 1,187,323   0.77   1.05   to 2.50   (15.79)   to (16.97)  
    12/31/2021 1,037,491 1.43 to 1.32 1,460,494   1.10   1.05   to 2.50   8.60   to 7.07  
Columbia - Select Mid Cap Growth Class 1 Shares                                
    12/31/2025 363,728 3.79 to 3.17 1,315,269   -   1.05   to 2.50   13.94   to 12.33  
    12/31/2024 377,179 3.33 to 2.82 1,201,337   -   1.05   to 2.50   22.39   to 20.65  
    12/31/2023 428,743 2.72 to 2.34 1,118,978   -   1.05   to 2.50   23.94   to 22.20  
    12/31/2022 453,707 2.19 to 1.91 958,786   -   1.05   to 2.50   (31.55)   to (32.52)  
    12/31/2021 470,769 3.21 to 2.83 1,458,449   -   1.05   to 2.50   15.36   to 13.73  
Columbia - Select Mid Cap Value Class 1 Shares                                
    12/31/2025 38,822 3.38 to 18.63 137,667   -   1.05   to 2.50   13.00   to 11.40  
    12/31/2024 61,419 2.99 to 16.73 187,202   -   1.05   to 2.50   11.37   to 9.78  
    12/31/2023 76,674 2.68 to 15.24 209,417   -   1.05   to 2.50   9.16   to 7.62  
    12/31/2022 77,928 2.46 to 14.16 196,886   -   1.05   to 2.50   (10.38)   to (11.64)  
    12/31/2021 93,830 2.74 to 16.02 272,455   -   1.05   to 2.50   30.95   to 29.10  
Columbia - Small Cap Value Class 1 Shares                                
    12/31/2025 145,202 7.71 to 2.15 810,812   1.21   1.05   to 2.50   13.80   to 12.19  
    12/31/2024 162,869 6.78 to 1.92 802,054   0.75   1.05   to 2.50   7.73   to 6.20  
    12/31/2023 181,410 6.29 to 1.80 825,906   0.76   1.05   to 2.50   20.68   to 18.98  
    12/31/2022 208,127 5.21 to 1.52 783,539   0.74   1.05   to 2.50   (9.64)   to (10.92)  
    12/31/2021 234,137 5.77 to 1.70 971,018   0.67   1.05   to 2.50   27.85   to 26.04  
Columbia - Small Company Growth Class 1 Shares                                
    12/31/2025 4,186 5.08 to 28.94 27,103   -   1.05   to 2.50   20.42   to 18.72  
    12/31/2024 4,709 4.22 to 24.37 25,296   2.30   1.05   to 2.50   22.82   to 21.07  
    12/31/2023 5,265 3.44 to 20.13 23,046   -   1.05   to 2.50   25.32   to 23.55  
    12/31/2022 5,904 2.74 to 16.29 20,616   -   1.05   to 2.50   (36.43)   to (37.33)  
    12/31/2021 6,640 4.31 to 26.00 38,281   -   1.05   to 2.50   (3.91)   to (5.27)  
Columbia - Strategic Income Class 1 Shares                                
    12/31/2025 224,373 2.51 to 11.13 503,696   4.53   1.05   to 2.50   6.21   to 4.70  
    12/31/2024 251,308 2.36 to 10.63 535,129   4.55   1.05   to 2.50   3.61   to 2.13  
    12/31/2023 262,678 2.28 to 10.41 542,053   3.53   1.05   to 2.50   8.54   to 7.01  
    12/31/2022 274,217 2.10 to 9.72 522,656   2.90   1.05   to 2.50   (12.29)   to (13.53)  
    12/31/2021 330,561 2.39 to 11.25 731,576   5.44   1.05   to 2.50   1.03   to (0.40)  

 

85
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
CTIVP® - Principal Large Cap Growth Class 1 Shares                              
    12/31/2025 1,118,568 $3.55 to $3.09 $       3,858,894   - % 1.05 % to 2.50 % 12.59 % to 11.00 %
    12/31/2024 1,186,567 3.15 to 2.79 3,645,527   -   1.05   to 2.50   20.15   to 18.44  
    12/31/2023 1,292,445 2.62 to 2.35 3,313,989   -   1.05   to 2.50   38.09   to 36.15  
    12/31/2022 1,364,830 1.90 to 1.73 2,541,607   -   1.05   to 2.50   (28.75)   to (29.76)  
    12/31/2021 1,460,926 2.67 to 2.46 3,828,722   -   1.05   to 2.50   17.34   to 15.68  
Davis Equity                                    
    12/31/2025 652,391 6.58 to 4.08 3,104,903   1.05   1.05   to 2.50   25.92   to 24.14  
    12/31/2024 696,850 5.23 to 3.28 2,643,062   1.07   1.05   to 2.50   16.82   to 15.16  
    12/31/2023 854,400 4.48 to 2.85 2,796,569   1.33   1.05   to 2.50   31.26   to 29.41  
    12/31/2022 1,050,834 3.41 to 2.20 2,656,898   1.21   1.05   to 2.50   (20.96)   to (22.08)  
    12/31/2021 1,165,845 4.31 to 2.83 3,746,669   0.57   1.05   to 2.50   16.63   to 14.98  
Federated Hermes Government Money II Service Shares                            
    12/31/2025 2,090,941 1.10 to 9.38 2,121,859   3.68   1.05   to 2.65   2.66   to 1.06  
    12/31/2024 2,266,767 1.07 to 9.28 2,248,503   4.58   1.05   to 2.65   3.58   to 1.96  
    12/31/2023 2,485,803 1.03 to 9.10 2,388,332   4.42   1.05   to 2.65   3.44   to 1.83  
    12/31/2022 3,287,841 1.00 to 8.94 3,053,007   1.12   1.05   to 2.65   0.11   to (1.45)  
    12/31/2021 3,621,544 1.00 to 9.07 3,370,633   -   1.05   to 2.65   (1.04)   to (2.58)  
Federated Hermes High Income Bond II Primary Shares                            
    12/31/2025 442,115 3.29 to 11.90 1,373,584   6.10   1.05   to 2.65   7.10   to 5.44  
    12/31/2024 520,071 3.07 to 11.28 1,501,798   5.58   1.05   to 2.65   5.16   to 3.51  
    12/31/2023 573,437 2.92 to 10.90 1,580,801   5.86   1.05   to 2.65   11.55   to 9.81  
    12/31/2022 633,339 2.62 to 9.93 1,570,874   5.37   1.05   to 2.65   (12.69)   to (14.05)  
    12/31/2021 651,983 3.00 to 11.55 1,857,360   4.97   1.05   to 2.65   3.76   to 2.14  
Federated Hermes Kaufmann II Primary Shares                                
    12/31/2025 242,580 7.14 to 3.57 1,484,128   -   1.05   to 2.50   10.36   to 8.80  
    12/31/2024 263,993 6.47 to 3.28 1,469,750   0.82   1.05   to 2.50   15.83   to 14.18  
    12/31/2023 303,755 5.59 to 2.88 1,473,569   -   1.05   to 2.50   14.04   to 12.43  
    12/31/2022 321,466 4.90 to 2.56 1,370,323   -   1.05   to 2.50   (30.82)   to (31.80)  
    12/31/2021 356,018 7.08 to 3.75 2,206,386   -   1.05   to 2.50   1.44   to 0.01  
Federated Hermes Kaufmann II Service Shares                                
    12/31/2025 190,334 4.95 to 18.94 906,234   -   1.05   to 2.50   10.11   to 8.55  
    12/31/2024 219,241 4.50 to 17.44 950,162   0.66   1.05   to 2.50   15.56   to 13.91  
    12/31/2023 257,104 3.89 to 15.31 964,856   -   1.05   to 2.50   13.67   to 12.07  
    12/31/2022 363,781 3.43 to 13.66 1,203,603   -   1.05   to 2.50   (30.98)   to (31.96)  
    12/31/2021 380,725 4.96 to 20.08 1,827,772   -   1.05   to 2.50   1.20   to (0.23)  
Federated Hermes Managed Volatility II Primary Shares                            
    12/31/2025 254,795 2.52 to 14.14 653,216   2.86   1.05   to 2.65   5.92   to 4.27  
    12/31/2024 265,979 2.38 to 13.56 646,969   2.25   1.05   to 2.65   14.35   to 12.56  
    12/31/2023 323,306 2.08 to 12.05 692,707   1.91   1.05   to 2.65   7.56   to 5.88  
    12/31/2022 342,609 1.93 to 11.38 680,126   1.87   1.05   to 2.65   (14.65)   to (15.98)  
    12/31/2021 354,525 2.26 to 13.54 826,804   1.79   1.05   to 2.65   17.28   to 15.45  
Federated Hermes Managed Volatility II Service Shares                            
    12/31/2025 191,405 1.40 to 12.59 264,444   2.61   1.05   to 2.50   5.62   to 4.13  
    12/31/2024 212,186 1.32 to 12.10 278,054   1.93   1.05   to 2.50   14.20   to 12.58  
    12/31/2023 236,394 1.16 to 10.74 271,735   1.59   1.05   to 2.50   7.21   to 5.70  
    12/31/2022 274,187 1.08 to 10.17 294,392   -   1.05   to 2.50   (14.89)   to (16.09)  
    12/31/2021 304,573 1.27 to 12.11 384,868   1.57   1.05   to 2.50   17.03   to 15.37  
Federated Hermes Quality Bond II Primary Shares                                
    12/31/2025 53,100 1.77 to 10.33 94,392   3.35   1.05   to 2.50   5.97   to 4.47  
    12/31/2024 55,793 1.67 to 9.89 93,955   2.97   1.05   to 2.50   2.80   to 1.34  
    12/31/2023 57,922 1.62 to 9.76 95,228   2.63   1.05   to 2.50   5.04   to 3.55  
    12/31/2022 59,349 1.54 to 9.43 93,215   2.83   1.05   to 2.50   (10.22)   to (11.48)  
    12/31/2021 95,476 1.72 to 10.65 166,733   2.61   1.05   to 2.50   (2.42)   to (3.80)  

 

86
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Fidelity® VIP Asset Manager 50% Initial Class                                
    12/31/2025 201,554 $3.06 to $1.50 $           790,981   2.49 % 1.15 % to 3.85 % 13.68 % to 10.72 %
    12/31/2024 213,277 2.69 to 1.35 733,657   2.31   1.15   to 3.85   7.26   to 4.45  
    12/31/2023 261,096 2.51 to 1.30 841,818   2.18   1.15   to 3.85   11.66   to 8.77  
    12/31/2022 319,012 2.25 to 1.19 924,565   2.10   1.15   to 3.85   (15.90)   to (18.09)  
    12/31/2021 337,969 2.67 to 1.46 1,171,414   1.54   1.15   to 3.85   8.67   to 5.84  
Fidelity® VIP Asset Manager 70% Initial Class                                
    12/31/2025 59,461 3.20 to 1.55 266,694   1.44   1.15   to 3.85   16.90   to 13.86  
    12/31/2024 92,445 2.74 to 1.37 355,428   1.54   1.15   to 3.85   9.54   to 6.68  
    12/31/2023 129,678 2.50 to 1.28 455,607   1.73   1.15   to 3.85   15.05   to 12.07  
    12/31/2022 145,555 2.17 to 1.14 445,515   1.83   1.15   to 3.85   (17.82)   to (19.96)  
    12/31/2021 149,185 2.64 to 1.43 556,420   1.35   1.15   to 3.85   12.67   to 9.74  
Fidelity® VIP Balanced Initial Class                                  
    12/31/2025 388,175 4.72 to 2.41 2,366,181   1.71   1.15   to 3.85   13.90   to 10.94  
    12/31/2024 427,469 4.14 to 2.17 2,291,535   1.83   1.15   to 3.85   14.60   to 11.60  
    12/31/2023 450,089 3.61 to 1.95 2,109,889   1.64   1.15   to 3.85   20.15   to 17.04  
    12/31/2022 544,302 3.01 to 1.66 2,126,544   1.22   1.15   to 3.85   (18.87)   to (20.98)  
    12/31/2021 634,822 3.71 to 2.11 3,057,938   0.90   1.15   to 3.85   16.92   to 13.88  
Fidelity® VIP Balanced Service Class 2                                  
    12/31/2025 85,267 4.88 to 3.62 448,072   1.65   1.25   to 2.50   13.54   to 12.15  
    12/31/2024 80,379 4.30 to 3.23 300,860   1.70   1.25   to 2.50   14.19   to 12.79  
    12/31/2023 88,824 3.76 to 2.86 290,938   1.51   1.25   to 2.50   19.74   to 18.29  
    12/31/2022 116,123 3.14 to 2.42 316,845   1.04   1.25   to 2.50   (19.20)   to (20.18)  
    12/31/2021 120,245 3.89 to 3.03 406,677   0.68   1.25   to 2.50   16.54   to 15.11  
Fidelity® VIP Contrafund® Initial Class                                  
    12/31/2025 732,633 9.76 to 4.77 11,234,488   0.14   1.15   to 3.85   20.10   to 16.98  
    12/31/2024 795,067 8.13 to 4.08 10,183,844   0.19   1.15   to 3.85   32.26   to 28.81  
    12/31/2023 884,013 6.15 to 3.17 8,566,992   0.49   1.15   to 3.85   31.94   to 28.52  
    12/31/2022 981,297 4.66 to 2.46 7,222,451   0.49   1.15   to 3.85   (27.15)   to (29.04)  
    12/31/2021 1,114,031 6.40 to 3.47 11,244,241   0.06   1.15   to 3.85   26.38   to 23.10  
Fidelity® VIP Contrafund® Service Class 2                                
    12/31/2025 1,398,097 9.01 to 4.79 9,717,254   -   0.85   to 2.95   20.17   to 17.72  
    12/31/2024 1,954,247 7.50 to 4.07 11,566,652   0.03   0.85   to 2.95   32.32   to 29.61  
    12/31/2023 1,977,082 5.67 to 3.14 8,839,127   0.26   0.85   to 2.95   32.00   to 29.32  
    12/31/2022 2,046,414 4.29 to 2.43 7,009,316   0.26   0.85   to 2.95   (27.11)   to (28.59)  
    12/31/2021 2,266,767 5.89 to 3.40 10,713,245   0.03   0.85   to 2.95   26.44   to 23.86  
Fidelity® VIP Equity-Income Initial Class                                
    12/31/2025 579,537 4.76 to 2.47 3,898,145   1.82   1.15   to 3.85   17.67   to 14.61  
    12/31/2024 612,723 4.05 to 2.15 3,507,953   1.76   1.15   to 3.85   14.03   to 11.05  
    12/31/2023 664,959 3.55 to 1.94 3,344,616   1.89   1.15   to 3.85   9.39   to 6.56  
    12/31/2022 717,168 3.24 to 1.82 3,305,286   1.80   1.15   to 3.85   (6.04)   to (8.47)  
    12/31/2021 813,250 3.45 to 1.99 4,020,258   1.86   1.15   to 3.85   23.47   to 20.27  
Fidelity® VIP Equity-Income Service Class 2                                
    12/31/2025 1,376,531 4.59 to 3.15 5,896,833   1.63   0.85   to 2.95   17.75   to 15.35  
    12/31/2024 1,490,970 3.90 to 2.73 5,458,089   1.54   0.85   to 2.95   14.08   to 11.74  
    12/31/2023 1,750,727 3.41 to 2.44 5,655,911   1.71   0.85   to 2.95   9.45   to 7.22  
    12/31/2022 1,900,631 3.12 to 2.28 5,650,072   1.69   0.85   to 2.95   (6.04)   to (7.96)  
    12/31/2021 2,068,225 3.32 to 2.48 6,579,146   1.62   0.85   to 2.95   23.56   to 21.04  
Fidelity® VIP Government Money Market Initial Class                            
    12/31/2025 384,434 1.27 to 0.63 513,871   4.07   1.15   to 3.85   2.95   to 0.27  
    12/31/2024 486,710 1.23 to 0.63 632,513   5.00   1.15   to 3.85   3.90   to 1.19  
    12/31/2023 547,969 1.19 to 0.62 688,437   4.78   1.15   to 3.85   3.70   to 1.02  
    12/31/2022 646,362 1.15 to 0.61 785,000   1.60   1.15   to 3.85   0.29   to (2.31)  
    12/31/2021 389,779 1.14 to 0.63 470,246   0.01   1.15   to 3.85   (1.13)   to (3.70)  

 

87
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Fidelity® VIP Government Money Market Service Class 2                            
    12/31/2025 155,374 $1.12 to $0.88 $           168,902   3.81 % 1.25 % to 2.50 % 2.58 % to 1.33 %
    12/31/2024 173,509 1.09 to 0.86 184,168   4.74   1.25   to 2.50   3.54   to 2.27  
    12/31/2023 192,704 1.05 to 0.84 197,920   4.54   1.25   to 2.50   3.35   to 2.09  
    12/31/2022 211,188 1.02 to 0.83 210,246   1.23   1.25   to 2.50   0.02   to (1.20)  
    12/31/2021 232,271 1.02 to 0.84 231,154   0.01   1.25   to 2.50   (1.23)   to (2.43)  
Fidelity® VIP Growth Initial Class                                  
    12/31/2025 639,457 7.49 to 3.44 8,070,048   0.29   1.15   to 3.85   13.59   to 10.64  
    12/31/2024 692,723 6.59 to 3.11 7,708,335   -   1.15   to 3.85   28.90   to 25.53  
    12/31/2023 767,929 5.11 to 2.48 6,652,419   0.13   1.15   to 3.85   34.69   to 31.20  
    12/31/2022 860,701 3.80 to 1.89 5,551,816   0.62   1.15   to 3.85   (25.31)   to (27.25)  
    12/31/2021 1,012,162 5.08 to 2.60 8,722,736   -   1.15   to 3.85   21.81   to 18.65  
Fidelity® VIP Growth Service Class 2                                  
    12/31/2025 428,195 9.33 to 36.78 2,615,785   0.05   0.85   to 2.95   13.64   to 11.33  
    12/31/2024 572,025 8.21 to 33.04 3,044,073   -   0.85   to 2.95   28.97   to 26.33  
    12/31/2023 649,307 6.37 to 26.16 2,728,272   -   0.85   to 2.95   34.75   to 32.01  
    12/31/2022 699,165 4.73 to 19.81 2,201,483   0.35   0.85   to 2.95   (25.28)   to (26.80)  
    12/31/2021 730,905 6.33 to 27.07 3,106,013   -   0.85   to 2.95   21.87   to 19.38  
Fidelity® VIP Growth & Income Initial Class                                
    12/31/2025 396,624 5.53 to 2.74 3,254,425   1.54   1.15   to 3.85   20.12   to 17.00  
    12/31/2024 433,856 4.61 to 2.34 2,974,530   1.42   1.15   to 3.85   20.82   to 17.66  
    12/31/2023 493,135 3.81 to 1.99 2,800,685   1.58   1.15   to 3.85   17.37   to 14.33  
    12/31/2022 574,476 3.25 to 1.74 2,791,123   1.55   1.15   to 3.85   (6.03)   to (8.47)  
    12/31/2021 662,390 3.46 to 1.90 3,461,118   2.38   1.15   to 3.85   24.52   to 21.28  
Fidelity® VIP Growth & Income Service Class 2                                
    12/31/2025 87,597 5.92 to 4.40 428,031   1.28   1.25   to 2.50   19.72   to 18.26  
    12/31/2024 108,014 4.94 to 3.72 442,478   1.27   1.25   to 2.50   20.45   to 18.97  
    12/31/2023 113,004 4.10 to 3.12 384,533   1.53   1.25   to 2.50   16.91   to 15.49  
    12/31/2022 111,851 3.51 to 2.71 325,098   1.51   1.25   to 2.50   (6.34)   to (7.48)  
    12/31/2021 109,674 3.75 to 2.92 341,097   2.19   1.25   to 2.50   24.09   to 22.58  
Fidelity® VIP Growth Opportunities Initial Class                                
    12/31/2025 344,799 8.23 to 4.19 4,117,600   -   1.15   to 3.85   20.56   to 17.43  
    12/31/2024 376,752 6.83 to 3.57 3,738,556   -   1.15   to 3.85   37.30   to 33.72  
    12/31/2023 404,787 4.97 to 2.67 2,935,727   -   1.15   to 3.85   44.00   to 40.27  
    12/31/2022 443,458 3.45 to 1.90 2,240,256   -   1.15   to 3.85   (38.85)   to (40.44)  
    12/31/2021 487,969 5.65 to 3.20 4,035,230   -   1.15   to 3.85   10.67   to 7.79  
Fidelity® VIP Growth Opportunities Service Class                                
    12/31/2025 196,505 12.02 to 12.89 2,257,670   -   1.25   to 2.50   20.31   to 18.85  
    12/31/2024 215,109 9.99 to 10.85 2,056,050   -   1.25   to 2.50   37.04   to 35.36  
    12/31/2023 257,194 7.29 to 8.01 1,792,181   -   1.25   to 2.50   43.72   to 41.98  
    12/31/2022 294,454 5.07 to 5.64 1,433,446   -   1.25   to 2.50   (38.98)   to (39.72)  
    12/31/2021 332,185 8.31 to 9.36 2,660,973   -   1.25   to 2.50   10.45   to 9.10  
Fidelity® VIP Growth Opportunities Service Class 2                              
    12/31/2025 125,465 13.82 to 45.74 1,122,455   -   1.05   to 2.95   20.37   to 18.15  
    12/31/2024 128,955 11.48 to 38.71 969,848   -   1.05   to 2.95   37.11   to 34.57  
    12/31/2023 130,990 8.37 to 28.77 725,306   -   1.05   to 2.95   43.80   to 41.16  
    12/31/2022 135,610 5.82 to 20.38 531,929   -   1.05   to 2.95   (38.96)   to (40.08)  
    12/31/2021 135,133 9.54 to 34.02 872,431   -   1.05   to 2.95   10.51   to 8.47  
Fidelity® VIP High Income Initial Class                                  
    12/31/2025 268,069 2.24 to 1.16 674,347   6.26   1.15   to 3.85   9.11   to 6.27  
    12/31/2024 298,498 2.05 to 1.10 688,653   5.91   1.15   to 3.85   7.73   to 4.91  
    12/31/2023 334,159 1.91 to 1.04 716,695   5.22   1.15   to 3.85   9.22   to 6.39  
    12/31/2022 402,846 1.74 to 0.98 792,472   4.87   1.15   to 3.85   (12.38)   to (14.66)  
    12/31/2021 441,389 1.99 to 1.15 991,863   5.33   1.15   to 3.85   3.22   to 0.54  

 

88
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Fidelity® VIP High Income Service Class                                  
    12/31/2025 177,877 $2.50 to $1.26 $           481,143   6.29 % 1.25 % to 2.50 % 8.96 % to 7.63 %
    12/31/2024 191,561 2.29 to 1.17 479,700   5.47   1.25   to 2.50   7.37   to 6.06  
    12/31/2023 224,575 2.13 to 1.11 530,126   5.50   1.25   to 2.50   9.14   to 7.82  
    12/31/2022 253,903 1.96 to 1.03 546,603   4.95   1.25   to 2.50   (12.65)   to (13.71)  
    12/31/2021 272,039 2.24 to 1.19 671,179   5.20   1.25   to 2.50   3.21   to 1.95  
Fidelity® VIP High Income Service Class 2                                
    12/31/2025 86,675 2.83 to 2.18 199,570   6.71   1.05   to 2.50   9.16   to 7.62  
    12/31/2024 88,007 2.59 to 2.02 187,057   4.29   1.05   to 2.50   7.48   to 5.95  
    12/31/2023 136,467 2.41 to 1.91 271,496   5.78   1.05   to 2.50   9.10   to 7.56  
    12/31/2022 137,710 2.21 to 1.77 252,623   5.01   1.05   to 2.50   (12.59)   to (13.82)  
    12/31/2021 144,101 2.53 to 2.06 311,982   4.77   1.05   to 2.50   3.21   to 1.75  
Fidelity® VIP Index 500 Initial Class                                  
    12/31/2025 2,025,999 6.14 to 2.96 19,355,154   1.15   1.15   to 3.85   16.44   to 13.41  
    12/31/2024 2,240,125 5.27 to 2.61 18,389,652   1.26   1.15   to 3.85   23.47   to 20.24  
    12/31/2023 2,498,003 4.27 to 2.17 16,687,219   1.44   1.15   to 3.85   24.76   to 21.53  
    12/31/2022 2,833,079 3.42 to 1.79 15,282,474   1.43   1.15   to 3.85   (19.14)   to (21.24)  
    12/31/2021 3,275,382 4.23 to 2.27 21,929,910   1.23   1.15   to 3.85   27.12   to 23.81  
Fidelity® VIP Index 500 Service Class 2                                  
    12/31/2025 173,828 8.42 to 27.21 1,432,001   0.94   1.05   to 2.50   16.26   to 14.62  
    12/31/2024 171,675 7.24 to 23.74 1,167,657   0.93   1.05   to 2.50   23.29   to 21.53  
    12/31/2023 282,957 5.87 to 19.53 1,546,030   1.26   1.05   to 2.50   24.58   to 22.82  
    12/31/2022 301,695 4.72 to 15.90 1,328,885   1.20   1.05   to 2.50   (19.26)   to (20.41)  
    12/31/2021 351,361 5.84 to 19.98 1,917,332   1.00   1.05   to 2.50   26.93   to 25.13  
Fidelity® VIP Investment Grade Bond Initial Class                                
    12/31/2025 1,225,434 2.23 to 1.12 2,578,087   3.45   1.15   to 3.85   6.01   to 3.25  
    12/31/2024 1,351,263 2.10 to 1.08 2,695,110   3.40   1.15   to 3.85   0.63   to (2.01)  
    12/31/2023 1,515,785 2.09 to 1.10 3,000,628   2.38   1.15   to 3.85   5.00   to 2.28  
    12/31/2022 1,768,730 1.99 to 1.08 3,412,185   2.04   1.15   to 3.85   (13.95)   to (16.18)  
    12/31/2021 2,138,193 2.31 to 1.29 4,832,216   2.00   1.15   to 3.85   (1.74)   to (4.29)  
Fidelity® VIP Investment Grade Bond Service Class 2                              
    12/31/2025 214,572 1.64 to 1.17 399,411   3.34   1.05   to 2.50   5.82   to 4.32  
    12/31/2024 240,230 1.55 to 1.12 421,415   3.18   1.05   to 2.50   0.44   to (0.99)  
    12/31/2023 270,109 1.54 to 1.13 474,010   2.42   1.05   to 2.50   4.90   to 3.42  
    12/31/2022 316,788 1.47 to 1.09 526,705   1.92   1.05   to 2.50   (14.11)   to (15.33)  
    12/31/2021 380,060 1.71 to 1.29 726,071   1.62   1.05   to 2.50   (1.93)   to (3.31)  
Fidelity® VIP Mid Cap Initial Class                                  
    12/31/2025 295,963 14.01 to 6.23 3,768,177   0.43   1.15   to 3.85   10.48   to 7.61  
    12/31/2024 321,291 12.68 to 5.79 3,716,631   0.54   1.15   to 3.85   16.15   to 13.11  
    12/31/2023 338,220 10.91 to 5.12 3,381,581   0.58   1.15   to 3.85   13.77   to 10.82  
    12/31/2022 375,251 9.59 to 4.62 3,306,760   0.48   1.15   to 3.85   (15.71)   to (17.90)  
    12/31/2021 426,831 11.38 to 5.63 4,488,248   0.60   1.15   to 3.85   24.17   to 20.95  
Fidelity® VIP Mid Cap Service Class 2                                  
    12/31/2025 841,598 6.54 to 18.11 5,819,978   0.24   0.85   to 2.95   10.55   to 8.29  
    12/31/2024 943,334 5.92 to 16.72 5,901,436   0.33   0.85   to 2.95   16.18   to 13.80  
    12/31/2023 1,111,190 5.09 to 14.69 5,991,910   0.36   0.85   to 2.95   13.84   to 11.52  
    12/31/2022 1,356,583 4.47 to 13.17 6,425,794   0.26   0.85   to 2.95   (15.68)   to (17.40)  
    12/31/2021 1,490,531 5.30 to 15.95 8,427,986   0.34   0.85   to 2.95   24.25   to 21.72  
Fidelity® VIP Overseas Initial Class                                  
    12/31/2025 224,605 3.01 to 1.30 807,538   1.54   1.15   to 3.85   19.02   to 15.93  
    12/31/2024 254,081 2.53 to 1.12 769,298   1.64   1.15   to 3.85   3.85   to 1.14  
    12/31/2023 258,115 2.43 to 1.11 753,200   0.99   1.15   to 3.85   19.14   to 16.05  
    12/31/2022 287,903 2.04 to 0.96 707,295   1.02   1.15   to 3.85   (25.34)   to (27.28)  
    12/31/2021 322,445 2.74 to 1.31 1,062,900   0.52   1.15   to 3.85   18.34   to 15.26  

 

89
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Fidelity® VIP Value Strategies Service Class 2                                
    12/31/2025 459,375 $4.81 to $18.96 $       2,293,737   0.79 % 0.85 % to 2.95 % 6.79 % to 4.62 %
    12/31/2024 513,312 4.51 to 18.12 2,399,796   0.78   0.85   to 2.95   8.24   to 6.02  
    12/31/2023 539,893 4.16 to 17.09 2,347,203   0.88   0.85   to 2.95   19.59   to 17.16  
    12/31/2022 572,044 3.48 to 14.59 2,103,084   0.81   0.85   to 2.95   (8.13)   to (10.00)  
    12/31/2021 703,899 3.79 to 16.21 2,835,036   1.19   0.85   to 2.95   32.22   to 29.52  
Franklin Income Class 2 Shares                                  
    12/31/2025 59,199 2.32 to 14.19 132,773   5.04   0.85   to 2.50   11.61   to 9.81  
    12/31/2024 65,588 2.08 to 12.92 132,474   5.17   0.85   to 2.50   6.30   to 4.57  
    12/31/2023 66,659 1.96 to 12.35 126,885   4.66   0.85   to 2.50   7.71   to 5.98  
    12/31/2022 110,769 1.82 to 11.66 193,573   4.86   0.85   to 2.50   (6.27)   to (7.77)  
    12/31/2021 139,763 1.94 to 12.64 261,989   4.82   0.85   to 2.50   15.77   to 13.91  
Franklin Mutual Shares Class 2 Shares                                  
    12/31/2025 856,157 2.24 to 2.31 2,935,872   2.01   0.85   to 2.50   10.58   to 8.80  
    12/31/2024 979,667 2.02 to 2.12 3,003,031   1.95   0.85   to 2.50   10.33   to 8.54  
    12/31/2023 1,139,210 1.83 to 1.95 3,172,048   1.88   0.85   to 2.50   12.51   to 10.70  
    12/31/2022 1,230,622 1.63 to 1.76 3,061,053   1.83   0.85   to 2.50   (8.21)   to (9.69)  
    12/31/2021 1,321,564 1.77 to 1.95 3,593,839   2.87   0.85   to 2.50   18.16   to 16.26  
Franklin Rising Dividends Class 2 Shares                                  
    12/31/2025 241,084 6.61 to 2.47 1,424,110   0.82   1.05   to 2.50   10.64   to 9.08  
    12/31/2024 274,519 5.98 to 2.26 1,470,556   1.01   1.05   to 2.50   9.63   to 8.07  
    12/31/2023 273,585 5.45 to 2.09 1,374,245   0.92   1.05   to 2.50   10.91   to 9.35  
    12/31/2022 327,518 4.91 to 1.92 1,486,960   0.80   1.05   to 2.50   (11.50)   to (12.75)  
    12/31/2021 357,083 5.55 to 2.20 1,834,689   0.88   1.05   to 2.50   25.47   to 23.70  
Franklin Small Cap Value Class 2 Shares                                  
    12/31/2025 155,028 6.62 to 2.87 957,016   1.08   1.05   to 2.50   6.54   to 5.03  
    12/31/2024 163,082 6.21 to 2.73 947,982   0.98   1.05   to 2.50   10.54   to 8.97  
    12/31/2023 184,222 5.62 to 2.51 970,321   0.53   1.05   to 2.50   11.58   to 10.00  
    12/31/2022 205,973 5.03 to 2.28 974,498   1.00   1.05   to 2.50   (11.00)   to (12.25)  
    12/31/2021 235,538 5.66 to 2.60 1,212,722   1.03   1.05   to 2.50   24.06   to 22.31  
Franklin Small-Mid Cap Growth Class 2 Shares                                
    12/31/2025 723,807 6.11 to 2.54 3,321,131   -   1.05   to 2.50   1.45   to 0.02  
    12/31/2024 775,674 6.02 to 2.54 3,523,622   -   1.05   to 2.50   9.88   to 8.31  
    12/31/2023 897,516 5.48 to 2.35 3,689,397   -   1.05   to 2.50   25.42   to 23.66  
    12/31/2022 1,141,536 4.37 to 1.90 3,745,863   -   1.05   to 2.50   (34.38)   to (35.31)  
    12/31/2021 1,311,374 6.66 to 2.93 6,582,401   -   1.05   to 2.50   8.87   to 7.33  
Franklin Templeton Developing Markets Class 2 Shares                            
    12/31/2025 163,203 5.42 to 1.32 643,579   0.53   1.05   to 2.50   44.75   to 42.71  
    12/31/2024 171,407 3.74 to 0.92 466,940   3.96   1.05   to 2.50   6.54   to 5.03  
    12/31/2023 176,276 3.51 to 0.88 449,197   2.09   1.05   to 2.50   11.46   to 9.88  
    12/31/2022 187,614 3.15 to 0.80 428,804   2.68   1.05   to 2.50   (22.79)   to (23.88)  
    12/31/2021 190,135 4.08 to 1.05 542,392   0.88   1.05   to 2.50   (6.72)   to (8.04)  
Franklin Templeton Foreign Class 2 Shares                                
    12/31/2025 700,668 1.54 to 1.70 1,549,819   2.32   0.85   to 2.50   28.11   to 26.05  
    12/31/2024 778,074 1.20 to 1.35 1,346,712   2.43   0.85   to 2.50   (1.84)   to (3.43)  
    12/31/2023 876,962 1.23 to 1.40 1,564,172   3.22   0.85   to 2.50   19.74   to 17.82  
    12/31/2022 958,106 1.02 to 1.19 1,440,927   3.07   0.85   to 2.50   (8.38)   to (9.86)  
    12/31/2021 1,069,041 1.12 to 1.32 1,750,482   1.86   0.85   to 2.50   3.28   to 1.62  
Invesco V.I. American Franchise Series I Shares                                
    12/31/2025 344,193 5.25 to 30.43 1,775,317   -   1.25   to 2.65   10.29   to 8.78  
    12/31/2024 511,692 4.76 to 27.97 2,397,460   -   1.25   to 2.65   33.21   to 31.39  
    12/31/2023 626,010 3.57 to 21.29 2,201,123   -   1.25   to 2.65   39.19   to 37.30  
    12/31/2022 685,336 2.57 to 15.50 1,733,972   -   1.25   to 2.65   (31.96)   to (32.89)  
    12/31/2021 722,186 3.77 to 23.10 2,689,036   -   1.25   to 2.65   10.54   to 9.04  

 

90
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Invesco V.I. American Franchise Series II Shares                                
    12/31/2025 72,476 $5.35 to $4.11 $           363,645   - % 0.85 % to 2.95 % 10.45 % to 8.20 %
    12/31/2024 74,396 4.85 to 3.80 339,006   -   0.85   to 2.95   33.42   to 30.69  
    12/31/2023 87,068 3.63 to 2.91 298,755   -   0.85   to 2.95   39.42   to 36.58  
    12/31/2022 89,854 2.61 to 2.13 222,180   -   0.85   to 2.95   (31.87)   to (33.26)  
    12/31/2021 95,040 3.83 to 3.19 346,446   -   0.85   to 2.95   10.71   to 8.45  
Invesco V.I. American Value Series II Shares                                
    12/31/2025 25,256 17.89 to 16.25 437,790   0.22   0.85   to 2.95   19.74   to 17.30  
    12/31/2024 27,261 14.94 to 13.85 397,773   0.62   0.85   to 2.95   28.99   to 26.35  
    12/31/2023 78,960 11.58 to 10.96 906,471   0.40   0.85   to 2.95   14.32   to 12.00  
    12/31/2022 80,427 10.13 to 9.79 810,172   0.42   0.85   to 2.95   (3.68)   to (5.64)  
    12/31/2021(1) 26,888 10.52 to 10.37 281,743   0.23   0.85   to 2.95   -   to -  
Invesco V.I. Comstock Series II Shares                                  
    12/31/2025 223,466 4.97 to 20.19 1,084,184   1.43   1.05   to 2.50   15.93   to 14.29  
    12/31/2024 247,750 4.29 to 17.67 1,038,308   1.50   1.05   to 2.50   13.67   to 12.05  
    12/31/2023 281,476 3.77 to 15.77 1,037,741   1.53   1.05   to 2.50   10.93   to 9.37  
    12/31/2022 353,012 3.40 to 14.42 1,172,087   1.32   1.05   to 2.50   (0.20)   to (1.61)  
    12/31/2021 413,483 3.41 to 14.65 1,377,726   1.60   1.05   to 2.50   31.66   to 29.80  
Invesco V.I. Core Equity Series II Shares                                  
    12/31/2025 297,736 5.89 to 2.20 1,194,552   0.41   1.05   to 2.50   14.68   to 13.06  
    12/31/2024 322,147 5.14 to 1.95 1,146,703   0.49   1.05   to 2.50   23.98   to 22.22  
    12/31/2023 334,953 4.14 to 1.59 969,008   0.47   1.05   to 2.50   21.81   to 20.09  
    12/31/2022 394,731 3.40 to 1.33 956,066   0.62   1.05   to 2.50   (21.58)   to (22.68)  
    12/31/2021 437,969 4.34 to 1.72 1,355,162   0.45   1.05   to 2.50   26.06   to 24.27  
Invesco V.I. Discovery Large Cap Series I Shares                                
    12/31/2025 1,009,822 8.43 to 5.02 7,545,614   -   1.25   to 2.50   11.40   to 10.05  
    12/31/2024 1,173,232 7.57 to 4.56 7,869,443   -   1.25   to 2.50   32.50   to 30.87  
    12/31/2023 1,477,335 5.71 to 3.49 7,412,188   -   1.25   to 2.50   33.71   to 32.09  
    12/31/2022 1,707,136 4.27 to 2.64 6,303,114   -   1.25   to 2.50   (31.64)   to (32.47)  
    12/31/2021 1,879,970 6.25 to 3.91 10,120,569   -   1.25   to 2.50   21.06   to 19.58  
Invesco V.I. Discovery Large Cap Series II Shares                                
    12/31/2025 100,067 7.32 to 4.21 594,349   -   1.05   to 2.50   11.36   to 9.79  
    12/31/2024 108,873 6.57 to 3.84 582,521   -   1.05   to 2.50   32.43   to 30.55  
    12/31/2023 131,151 4.96 to 2.94 533,828   -   1.05   to 2.50   33.63   to 31.75  
    12/31/2022 148,930 3.71 to 2.23 453,755   -   1.05   to 2.50   (31.68)   to (32.65)  
    12/31/2021 155,307 5.44 to 3.31 701,382   -   1.05   to 2.50   21.01   to 19.30  
Invesco V.I. Discovery Mid Cap Growth Series II Shares                            
    12/31/2025 4,933 16.86 to 15.55 82,143   -   1.05   to 2.50   3.45   to 1.98  
    12/31/2024 7,830 16.30 to 15.25 126,465   -   1.05   to 2.50   22.63   to 20.88  
    12/31/2023 9,117 13.29 to 12.62 120,289   -   1.05   to 2.50   11.68   to 10.11  
    12/31/2022 11,405 11.90 to 11.46 135,022   -   1.05   to 2.50   (31.85)   to (32.81)  
    12/31/2021 12,651 17.47 to 17.05 220,214   -   1.05   to 2.50   17.56   to 15.89  
Invesco V.I. Equity and Income Series I Shares                                
    12/31/2025 711,678 1.18 to 1.16 839,987   2.02   1.25   to 2.50   11.41   to 10.06  
    12/31/2024(1) 858,621 1.06 to 1.05 911,339   1.72   1.25   to 2.50   -   to -  
Invesco V.I. Equity and Income Series II Shares                                
    12/31/2025 621,600 3.89 to 15.77 2,332,796   1.84   1.05   to 2.50   11.35   to 9.77  
    12/31/2024 715,900 3.49 to 14.37 2,413,229   1.56   1.05   to 2.50   10.74   to 9.16  
    12/31/2023 785,533 3.15 to 13.16 2,403,495   1.60   1.05   to 2.50   9.10   to 7.56  
    12/31/2022 985,918 2.89 to 12.24 2,779,221   1.42   1.05   to 2.50   (8.67)   to (9.96)  
    12/31/2021 1,073,730 3.16 to 13.59 3,283,159   1.62   1.05   to 2.50   17.12   to 15.47  

 

91
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Invesco V.I. EQV International Equity Series I Shares                              
    12/31/2025 128,942 $3.29 to $1.58 $           390,940   1.44 % 1.25 % to 2.50 % 15.06 % to 13.66 %
    12/31/2024 133,153 2.86 to 1.39 350,096   1.73   1.25   to 2.50   (0.63)   to (1.85)  
    12/31/2023 144,988 2.88 to 1.41 386,147   0.20   1.25   to 2.50   16.69   to 15.27  
    12/31/2022 156,518 2.47 to 1.23 357,207   1.71   1.25   to 2.50   (19.31)   to (20.30)  
    12/31/2021 172,888 3.06 to 1.54 480,432   1.19   1.25   to 2.50   4.58   to 3.31  
Invesco V.I. EQV International Equity Series II Shares                              
    12/31/2025 13,593 4.34 to 14.42 57,284   1.18   1.05   to 2.50   15.02   to 13.40  
    12/31/2024 14,430 3.77 to 12.72 52,928   1.52   1.05   to 2.50   (0.70)   to (2.12)  
    12/31/2023 15,545 3.80 to 12.99 57,394   -   1.05   to 2.50   16.65   to 15.00  
    12/31/2022 16,411 3.26 to 11.30 52,009   1.41   1.05   to 2.50   (19.35)   to (20.49)  
    12/31/2021 17,283 4.04 to 14.21 68,001   1.02   1.05   to 2.50   4.51   to 3.03  
Invesco V.I. Global Series I Shares                                  
    12/31/2025 214,375 9.90 to 2.63 1,697,018   -   1.25   to 2.50   13.90   to 12.51  
    12/31/2024 291,516 8.69 to 2.34 2,118,056   -   1.25   to 2.50   14.63   to 13.22  
    12/31/2023 314,374 7.58 to 2.07 1,999,259   0.23   1.25   to 2.50   33.08   to 31.46  
    12/31/2022 330,234 5.70 to 1.57 1,572,394   -   1.25   to 2.50   (32.61)   to (33.43)  
    12/31/2021 327,482 8.45 to 2.36 2,417,890   -   1.25   to 2.50   14.06   to 12.67  
Invesco V.I. Global Series II Shares                                  
    12/31/2025 8,416 7.53 to 4.50 44,870   -   1.05   to 2.50   13.82   to 12.21  
    12/31/2024 8,554 6.62 to 4.01 40,217   -   1.05   to 2.50   14.57   to 12.94  
    12/31/2023 8,731 5.78 to 3.55 35,986   -   1.05   to 2.50   33.05   to 31.18  
    12/31/2022 8,894 4.34 to 2.71 27,649   -   1.05   to 2.50   (32.64)   to (33.60)  
    12/31/2021 33,317 6.45 to 4.08 152,132   -   1.05   to 2.50   13.97   to 12.36  
Invesco V.I. Global Strategic Income Series I Shares                              
    12/31/2025 426,494 2.43 to 1.05 970,237   5.73   1.25   to 2.50   11.59   to 10.23  
    12/31/2024 454,068 2.18 to 0.95 925,809   2.80   1.25   to 2.50   1.88   to 0.63  
    12/31/2023 568,699 2.14 to 0.95 1,145,795   -   1.25   to 2.50   7.54   to 6.23  
    12/31/2022 629,621 1.99 to 0.89 1,185,217   -   1.25   to 2.50   (12.55)   to (13.62)  
    12/31/2021 785,372 2.27 to 1.03 1,683,488   4.44   1.25   to 2.50   (4.61)   to (5.77)  
Invesco V.I. Global Strategic Income Series II Shares                              
    12/31/2025 183,011 1.95 to 0.99 322,078   5.33   1.05   to 2.50   11.58   to 10.00  
    12/31/2024 199,485 1.74 to 0.90 315,398   2.69   1.05   to 2.50   1.72   to 0.27  
    12/31/2023 217,388 1.71 to 0.90 339,519   -   1.05   to 2.50   7.47   to 5.96  
    12/31/2022 237,393 1.60 to 0.85 345,722   -   1.05   to 2.50   (12.63)   to (13.86)  
    12/31/2021 316,034 1.83 to 0.98 532,788   4.01   1.05   to 2.50   (4.56)   to (5.92)  
Invesco V.I. Government Securities Series I Shares                              
    12/31/2025 123,476 1.64 to 0.99 198,932   2.99   1.25   to 2.50   6.04   to 4.75  
    12/31/2024 136,235 1.54 to 0.95 207,004   2.31   1.25   to 2.50   0.46   to (0.78)  
    12/31/2023 162,783 1.54 to 0.95 246,268   2.04   1.25   to 2.50   3.33   to 2.08  
    12/31/2022 182,030 1.49 to 0.93 265,858   1.98   1.25   to 2.50   (11.40)   to (12.48)  
    12/31/2021 202,813 1.68 to 1.07 334,788   2.01   1.25   to 2.50   (3.47)   to (4.65)  
Invesco V.I. Government Securities Series II Shares                              
    12/31/2025 173,272 1.34 to 0.89 214,294   2.82   1.05   to 2.50   5.84   to 4.35  
    12/31/2024 188,126 1.27 to 0.85 220,514   2.33   1.05   to 2.50   0.41   to (1.01)  
    12/31/2023 199,991 1.26 to 0.86 234,243   1.80   1.05   to 2.50   3.38   to 1.92  
    12/31/2022 211,900 1.22 to 0.84 240,800   1.77   1.05   to 2.50   (11.51)   to (12.75)  
    12/31/2021 218,358 1.38 to 0.97 277,701   1.83   1.05   to 2.50   (3.45)   to (4.82)  
Invesco V.I. Main Street Series I Shares                                  
    12/31/2025 623,352 6.39 to 3.33 3,651,166   0.53   1.25   to 2.50   14.50   to 13.10  
    12/31/2024 689,568 5.58 to 2.94 3,521,044   -   1.25   to 2.50   22.11   to 20.61  
    12/31/2023 801,419 4.57 to 2.44 3,373,909   0.85   1.25   to 2.50   21.70   to 20.22  
    12/31/2022 877,084 3.75 to 2.03 3,039,963   1.37   1.25   to 2.50   (21.12)   to (22.08)  
    12/31/2021 1,048,560 4.76 to 2.60 4,616,392   0.70   1.25   to 2.50   26.00   to 24.46  

 

92
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Invesco V.I. Main Street Series II Shares                                  
    12/31/2025 107,292 $6.68 to $4.16 $           640,167   0.32 % 1.05 % to 2.50 % 14.44 % to 12.82 %
    12/31/2024 110,961 5.84 to 3.69 586,702   -   1.05   to 2.50   22.10   to 20.37  
    12/31/2023 128,623 4.78 to 3.06 555,931   0.50   1.05   to 2.50   21.56   to 19.84  
    12/31/2022 133,020 3.93 to 2.56 480,858   1.10   1.05   to 2.50   (21.14)   to (22.25)  
    12/31/2021 141,166 4.99 to 3.29 614,070   0.48   1.05   to 2.50   25.91   to 24.13  
Invesco V.I. Main Street Mid Cap Series II Shares                                
    12/31/2025 61,105 4.88 to 16.66 248,140   0.10   1.05   to 2.50   7.83   to 6.31  
    12/31/2024 66,313 4.53 to 15.67 249,285   0.12   1.05   to 2.50   15.57   to 13.93  
    12/31/2023 70,768 3.92 to 13.75 229,710   0.04   1.05   to 2.50   12.96   to 11.37  
    12/31/2022 77,116 3.47 to 12.35 220,481   0.07   1.05   to 2.50   (15.34)   to (16.54)  
    12/31/2021 87,865 4.10 to 14.80 294,844   0.24   1.05   to 2.50   21.59   to 19.87  
Invesco V.I. Main Street Small Cap Series II Shares                                
    12/31/2025 6,542 7.62 to 17.78 47,213   0.22   1.05   to 2.50   7.31   to 5.80  
    12/31/2024 7,191 7.10 to 16.81 48,583   -   1.05   to 2.50   11.23   to 9.65  
    12/31/2023 8,259 6.38 to 15.33 50,016   0.94   1.05   to 2.50   16.60   to 14.95  
    12/31/2022 8,514 5.47 to 13.33 44,839   0.24   1.05   to 2.50   (16.91)   to (18.09)  
    12/31/2021 9,154 6.59 to 16.28 62,522   0.17   1.05   to 2.50   20.99   to 19.28  
Janus Henderson - Balanced Service Shares                                
    12/31/2025 687,313 4.30 to 19.23 2,952,438   1.71   1.40   to 2.65   13.24   to 11.86  
    12/31/2024 731,157 3.79 to 17.19 2,773,627   1.76   1.40   to 2.65   13.55   to 12.16  
    12/31/2023 841,866 3.34 to 15.33 2,812,541   1.80   1.40   to 2.65   13.55   to 12.17  
    12/31/2022 849,521 2.94 to 13.66 2,499,448   1.11   1.40   to 2.65   (17.77)   to (18.77)  
    12/31/2021 980,576 3.58 to 16.82 3,508,365   0.88   1.40   to 2.65   15.30   to 13.89  
Janus Henderson - Enterprise Service Shares                                
    12/31/2025 388,288 8.73 to 21.96 1,233,333   0.18   0.85   to 2.95   6.51   to 4.34  
    12/31/2024 473,342 8.19 to 21.04 1,433,885   0.63   0.85   to 2.95   14.34   to 12.00  
    12/31/2023 503,560 7.17 to 18.79 1,339,930   0.09   0.85   to 2.95   16.79   to 14.41  
    12/31/2022 547,352 6.14 to 16.42 1,257,517   0.27   0.85   to 2.95   (16.86)   to (18.55)  
    12/31/2021 582,109 7.38 to 20.16 1,615,499   0.24   0.85   to 2.95   15.56   to 13.20  
Janus Henderson - Forty Service Shares                                  
    12/31/2025 41,814 6.28 to 34.05 252,862   0.26   1.25   to 2.50   16.41   to 14.99  
    12/31/2024 43,334 5.39 to 29.61 225,450   0.01   1.25   to 2.50   26.55   to 25.00  
    12/31/2023 51,642 4.26 to 23.69 212,630   0.12   1.25   to 2.50   37.94   to 36.26  
    12/31/2022 53,934 3.09 to 17.38 161,229   0.05   1.25   to 2.50   (34.55)   to (35.34)  
    12/31/2021 56,597 4.72 to 26.89 258,868   0.53   1.25   to 2.50   21.09   to 19.61  
Janus Henderson - Global Research Service Shares                              
    12/31/2025 649,729 4.73 to 3.64 1,613,598   0.59   0.85   to 2.95   19.58   to 17.15  
    12/31/2024 702,827 3.95 to 3.11 1,467,065   0.60   0.85   to 2.95   22.22   to 19.72  
    12/31/2023 741,652 3.23 to 2.60 1,286,071   0.77   0.85   to 2.95   25.41   to 22.86  
    12/31/2022 784,804 2.58 to 2.11 1,100,009   1.48   0.85   to 2.95   (20.29)   to (21.91)  
    12/31/2021 851,473 3.23 to 2.71 1,539,019   0.36   0.85   to 2.95   16.80   to 14.42  
Janus Henderson - Mid Cap Value Service Shares                                
    12/31/2025 36,132 3.63 to 14.37 123,829   1.43   1.70   to 2.95   4.52   to 3.25  
    12/31/2024 36,534 3.47 to 13.92 120,026   0.84   1.70   to 2.95   10.91   to 9.55  
    12/31/2023 36,971 3.13 to 12.71 109,730   0.96   1.70   to 2.95   9.26   to 7.93  
    12/31/2022 37,724 2.86 to 11.77 102,502   1.16   1.70   to 2.95   (7.35)   to (8.47)  
    12/31/2021 37,995 3.09 to 12.86 111,888   0.31   1.70   to 2.95   17.43   to 16.00  
Janus Henderson - Overseas Service Shares                                
    12/31/2025 445,703 2.34 to 19.94 1,000,881   1.32   1.25   to 2.65   26.99   to 25.26  
    12/31/2024 508,783 1.84 to 15.92 910,883   1.30   1.25   to 2.65   4.27   to 2.84  
    12/31/2023 589,999 1.77 to 15.48 1,012,432   1.43   1.25   to 2.65   9.22   to 7.74  
    12/31/2022 618,013 1.62 to 14.37 973,258   1.67   1.25   to 2.65   (9.96)   to (11.19)  
    12/31/2021 697,382 1.80 to 16.18 1,219,531   1.02   1.25   to 2.65   11.89   to 10.36  

 

93
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Janus Henderson - Research Service Shares                                
    12/31/2025 247,700 $3.92 to $33.06 $           967,625   0.13 % 1.25 % to 2.65 % 16.64 % to 15.05 %
    12/31/2024 284,390 3.36 to 28.74 953,850   -   1.25   to 2.65   33.28   to 31.46  
    12/31/2023 322,000 2.52 to 21.86 811,484   0.06   1.25   to 2.65   41.05   to 39.14  
    12/31/2022 325,474 1.79 to 15.71 582,356   0.59   1.25   to 2.65   (30.93)   to (31.87)  
    12/31/2021 377,570 2.59 to 23.06 979,481   0.02   1.25   to 2.65   18.57   to 16.95  
LVIP JPMorgan Core Bond Standard Shares                                
    12/31/2025 1,006,230 2.13 to 1.31 1,667,145   3.39   1.15   to 2.70   6.18   to 4.58  
    12/31/2024 1,167,945 2.01 to 1.25 1,821,984   4.20   1.15   to 2.70   0.56   to (0.97)  
    12/31/2023(1) 1,332,670 2.00 to 1.27 2,068,784   1.52   1.15   to 2.70   -   to -  
LVIP JPMorgan Mid Cap Value Standard Shares                                
    12/31/2025 141,551 7.59 to 3.86 786,533   1.08   1.15   to 2.70   3.53   to 1.96  
    12/31/2024 162,005 7.33 to 3.78 865,088   1.14   1.15   to 2.70   12.98   to 11.27  
    12/31/2023(1) 206,086 6.49 to 3.40 963,827   1.83   1.15   to 2.70   -   to -  
LVIP JPMorgan U.S. Equity Standard Shares                                
    12/31/2025 262,038 6.36 to 4.59 1,343,960   0.43   1.15   to 2.70   13.24   to 11.53  
    12/31/2024 312,867 5.61 to 4.12 1,427,354   0.46   1.15   to 2.70   22.57   to 20.71  
    12/31/2023(1) 436,955 4.58 to 3.41 1,638,273   0.75   1.15   to 2.70   -   to -  
MFS® Core Equity Initial Class                                  
    12/31/2025 11,629 3.11 to 25.94 35,912   0.46   1.25   to 2.50   11.12   to 9.76  
    12/31/2024 12,418 2.80 to 23.63 34,537   0.60   1.25   to 2.50   18.62   to 17.16  
    12/31/2023 13,362 2.36 to 20.17 31,356   0.51   1.25   to 2.50   21.63   to 20.15  
    12/31/2022 17,958 1.94 to 16.79 34,701   0.31   1.25   to 2.50   (18.29)   to (19.29)  
    12/31/2021 20,763 2.37 to 20.80 49,135   0.44   1.25   to 2.50   23.77   to 22.26  
MFS® Growth Initial Class                                  
    12/31/2025 487,134 9.46 to 7.85 4,526,078   -   1.25   to 2.50   10.81   to 9.46  
    12/31/2024 604,818 8.53 to 7.17 5,054,560   -   1.25   to 2.50   29.83   to 28.24  
    12/31/2023 676,248 6.57 to 5.59 4,369,992   -   1.25   to 2.50   34.19   to 32.56  
    12/31/2022 751,005 4.90 to 4.22 3,622,012   -   1.25   to 2.50   (32.48)   to (33.30)  
    12/31/2021 863,429 7.25 to 6.32 6,026,084   -   1.25   to 2.50   22.01   to 20.52  
MFS® Growth Service Class                                  
    12/31/2025 138,694 11.55 to 6.28 1,400,465   -   1.05   to 2.50   10.74   to 9.18  
    12/31/2024 142,618 10.43 to 5.76 1,304,429   -   1.05   to 2.50   29.78   to 27.94  
    12/31/2023 160,650 8.04 to 4.50 1,121,680   -   1.05   to 2.50   34.11   to 32.22  
    12/31/2022 170,066 5.99 to 3.40 887,155   -   1.05   to 2.50   (32.51)   to (33.47)  
    12/31/2021 204,802 8.88 to 5.11 1,553,674   -   1.05   to 2.50   21.96   to 20.23  
MFS® Massachusetts Investors Growth Stock Initial Class                            
    12/31/2025 19,230 3.28 to 28.35 62,584   0.27   1.25   to 2.50   8.54   to 7.22  
    12/31/2024 21,520 3.02 to 26.44 64,562   0.35   1.25   to 2.50   14.82   to 13.42  
    12/31/2023 23,362 2.63 to 23.32 61,095   0.30   1.25   to 2.50   22.48   to 20.99  
    12/31/2022 24,660 2.15 to 19.27 52,701   0.10   1.25   to 2.50   (20.25)   to (21.23)  
    12/31/2021 26,643 2.70 to 24.46 71,470   0.25   1.25   to 2.50   24.42   to 22.90  
MFS® Massachusetts Investors Growth Stock Service Class                            
    12/31/2025 361,346 3.26 to 27.53 1,186,717   0.02   1.05   to 2.50   8.47   to 6.93  
    12/31/2024 393,935 3.01 to 25.74 1,196,657   0.13   1.05   to 2.50   14.77   to 13.14  
    12/31/2023 445,752 2.62 to 22.75 1,180,406   0.05   1.05   to 2.50   22.42   to 20.70  
    12/31/2022 539,758 2.14 to 18.85 1,168,490   -   1.05   to 2.50   (20.28)   to (21.41)  
    12/31/2021 597,332 2.69 to 23.99 1,584,017   0.03   1.05   to 2.50   24.35   to 22.59  
MFS® New Discovery Initial Class                                  
    12/31/2025 83,558 3.76 to 20.11 309,262   -   1.25   to 2.50   11.57   to 10.21  
    12/31/2024 93,018 3.37 to 18.25 308,961   -   1.25   to 2.50   5.40   to 4.11  
    12/31/2023 102,367 3.20 to 17.53 322,661   -   1.25   to 2.50   13.00   to 11.63  
    12/31/2022 118,461 2.83 to 15.70 330,511   -   1.25   to 2.50   (30.62)   to (31.47)  
    12/31/2021 127,318 4.08 to 22.91 512,267   -   1.25   to 2.50   0.54   to (0.68)  

 

94
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
MFS® New Discovery Service Class                                  
    12/31/2025 59,406 $5.38 to $2.81 $           332,618   - % 0.85 % to 2.95 % 11.61 % to 9.33 %
    12/31/2024 64,512 4.82 to 2.57 323,427   -   0.85   to 2.95   5.53   to 3.37  
    12/31/2023 74,206 4.56 to 2.49 352,595   -   0.85   to 2.95   13.29   to 10.99  
    12/31/2022 79,865 4.03 to 2.24 336,618   -   0.85   to 2.95   (30.58)   to (32.00)  
    12/31/2021 83,447 5.80 to 3.30 507,625   -   0.85   to 2.95   0.72   to (1.34)  
MFS® Research Initial Class                                  
    12/31/2025 257,547 6.63 to 4.63 1,609,604   0.94   1.25   to 2.50   11.46   to 10.10  
    12/31/2024 286,164 5.95 to 4.20 1,610,143   0.59   1.25   to 2.50   17.40   to 15.96  
    12/31/2023 318,458 5.07 to 3.63 1,525,586   0.51   1.25   to 2.50   20.91   to 19.44  
    12/31/2022 352,813 4.19 to 3.04 1,399,965   0.48   1.25   to 2.50   (18.23)   to (19.23)  
    12/31/2021 394,909 5.12 to 3.76 1,921,111   0.55   1.25   to 2.50   23.26   to 21.76  
MFS® Research Service Class                                  
    12/31/2025 165,661 7.80 to 4.51 1,091,760   0.15   1.05   to 2.50   11.40   to 9.82  
    12/31/2024 185,963 7.01 to 4.11 1,113,577   0.38   1.05   to 2.50   17.32   to 15.65  
    12/31/2023 197,674 5.97 to 3.55 1,017,632   0.25   1.05   to 2.50   20.86   to 19.15  
    12/31/2022 237,385 4.94 to 2.98 1,026,032   0.19   1.05   to 2.50   (18.29)   to (19.44)  
    12/31/2021 257,596 6.05 to 3.70 1,373,686   0.34   1.05   to 2.50   23.22   to 21.48  
MFS® Total Return Initial Class                                  
    12/31/2025 1,323,785 4.17 to 2.16 4,849,975   2.71   1.25   to 2.50   9.79   to 8.45  
    12/31/2024 1,500,570 3.80 to 1.99 5,038,098   2.42   1.25   to 2.50   6.41   to 5.11  
    12/31/2023 1,718,906 3.57 to 1.89 5,442,973   2.02   1.25   to 2.50   9.08   to 7.76  
    12/31/2022 1,863,455 3.27 to 1.76 5,437,865   1.71   1.25   to 2.50   (10.70)   to (11.78)  
    12/31/2021 2,094,586 3.67 to 1.99 6,839,712   1.76   1.25   to 2.50   12.71   to 11.33  
MFS® Total Return Service Class                                  
    12/31/2025 614,462 3.20 to 14.33 1,785,063   2.54   0.85   to 2.95   9.98   to 7.74  
    12/31/2024 670,100 2.91 to 13.31 1,787,840   2.20   0.85   to 2.95   6.55   to 4.36  
    12/31/2023 859,313 2.73 to 12.75 2,178,390   1.82   0.85   to 2.95   9.29   to 7.07  
    12/31/2022 1,066,076 2.50 to 11.91 2,474,803   1.47   0.85   to 2.95   (10.60)   to (12.42)  
    12/31/2021 1,155,385 2.79 to 13.60 3,017,668   1.52   0.85   to 2.95   12.88   to 10.57  
MFS® Total Return Bond Initial Class                                  
    12/31/2025 54,928 2.16 to 10.02 115,626   4.43   1.25   to 2.50   5.85   to 4.56  
    12/31/2024 59,552 2.04 to 9.58 118,578   4.29   1.25   to 2.50   1.27   to 0.03  
    12/31/2023 66,982 2.02 to 9.58 131,807   3.17   1.25   to 2.50   6.06   to 4.77  
    12/31/2022 70,879 1.90 to 9.14 131,543   2.80   1.25   to 2.50   (15.00)   to (16.03)  
    12/31/2021 76,986 2.24 to 10.89 168,229   2.65   1.25   to 2.50   (2.04)   to (3.23)  
MFS® Total Return Bond Service Class                                  
    12/31/2025 484,624 1.65 to 9.73 772,731   4.24   1.05   to 2.50   5.83   to 4.33  
    12/31/2024 546,678 1.56 to 9.33 824,806   4.06   1.05   to 2.50   1.26   to (0.18)  
    12/31/2023 571,806 1.54 to 9.34 853,259   2.98   1.05   to 2.50   6.02   to 4.52  
    12/31/2022 693,933 1.45 to 8.94 977,753   2.49   1.05   to 2.50   (15.07)   to (16.27)  
    12/31/2021 776,692 1.71 to 10.67 1,289,630   2.54   1.05   to 2.50   (2.10)   to (3.48)  
MFS® Utilities Initial Class                                  
    12/31/2025 593,347 7.35 to 3.35 4,137,073   2.89   1.25   to 2.50   13.59   to 12.20  
    12/31/2024 696,763 6.47 to 2.99 4,291,689   2.28   1.25   to 2.50   10.27   to 8.92  
    12/31/2023 767,093 5.86 to 2.74 4,292,583   3.50   1.25   to 2.50   (3.31)   to (4.49)  
    12/31/2022 855,275 6.07 to 2.87 4,958,025   2.40   1.25   to 2.50   (0.49)   to (1.70)  
    12/31/2021 952,964 6.10 to 2.92 5,558,397   1.73   1.25   to 2.50   12.68   to 11.31  
MFS® Utilities Service Class                                  
    12/31/2025 107,335 7.79 to 4.41 795,836   2.75   1.05   to 2.50   13.57   to 11.96  
    12/31/2024 120,279 6.86 to 3.94 795,547   2.05   1.05   to 2.50   10.18   to 8.61  
    12/31/2023 121,898 6.23 to 3.63 735,373   3.22   1.05   to 2.50   (3.34)   to (4.71)  
    12/31/2022 140,849 6.45 to 3.81 881,600   2.23   1.05   to 2.50   (0.56)   to (1.97)  
    12/31/2021 158,963 6.48 to 3.88 1,010,804   1.53   1.05   to 2.50   12.64   to 11.05  

 

95
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Putnam VT Core Equity Class IB Shares                                  
    12/31/2025 83 $8.38 to $28.94 $                   404   0.41 % 1.05 % to 2.50 % 15.59 % to 13.96 %
    12/31/2024 84 7.25 to 25.39 353   0.60   1.05   to 2.50   25.63   to 23.85  
    12/31/2023 84 5.77 to 20.50 283   0.26   1.05   to 2.50   26.76   to 24.97  
    12/31/2022 1,043 4.55 to 16.41 2,688   1.01   1.05   to 2.50   (16.64)   to (17.82)  
    12/31/2021 1,125 5.46 to 19.96 3,490   0.65   1.05   to 2.50   29.65   to 27.82  
Putnam VT Diversified Income Class IB Shares                                
    12/31/2025 104,550 2.00 to 0.98 203,005   6.06   1.05   to 2.50   7.46   to 5.94  
    12/31/2024 116,170 1.86 to 0.93 210,472   6.03   1.05   to 2.50   4.66   to 3.17  
    12/31/2023 121,245 1.78 to 0.90 210,135   6.05   1.05   to 2.50   3.73   to 2.27  
    12/31/2022 126,977 1.72 to 0.88 212,304   6.74   1.05   to 2.50   (3.36)   to (4.72)  
    12/31/2021 141,695 1.78 to 0.92 243,420   0.68   1.05   to 2.50   (7.92)   to (9.22)  
Putnam VT Focused International Equity Class IB Shares                            
    12/31/2025 331,431 4.73 to 2.82 1,040,921   3.16   1.05   to 2.50   35.02   to 33.11  
    12/31/2024 345,453 3.50 to 2.12 806,348   1.64   1.05   to 2.50   2.22   to 0.76  
    12/31/2023 365,673 3.43 to 2.10 838,551   0.68   1.05   to 2.50   18.01   to 16.35  
    12/31/2022 386,940 2.90 to 1.81 754,840   1.76   1.05   to 2.50   (19.04)   to (20.19)  
    12/31/2021 384,255 3.59 to 2.26 930,397   0.76   1.05   to 2.50   11.41   to 9.83  
Putnam VT George Putnam Balanced Class IB Shares                              
    12/31/2025 245,515 3.72 to 2.13 852,678   1.42   1.05   to 2.50   12.77   to 11.17  
    12/31/2024 260,100 3.30 to 1.92 803,555   1.14   1.05   to 2.50   15.51   to 13.86  
    12/31/2023 267,775 2.86 to 1.68 718,822   1.23   1.05   to 2.50   18.66   to 16.99  
    12/31/2022 293,685 2.41 to 1.44 666,392   0.91   1.05   to 2.50   (16.87)   to (18.04)  
    12/31/2021 312,864 2.90 to 1.76 857,856   0.84   1.05   to 2.50   12.77   to 11.18  
Putnam VT Global Health Care Class IB Shares                                
    12/31/2025 38,340 6.14 to 2.11 149,557   -   1.05   to 2.50   13.86   to 12.25  
    12/31/2024 50,688 5.40 to 1.88 194,166   0.48   1.05   to 2.50   0.37   to (1.06)  
    12/31/2023 36,431 5.38 to 1.90 181,501   0.30   1.05   to 2.50   8.00   to 6.48  
    12/31/2022 38,345 4.98 to 1.78 175,916   0.40   1.05   to 2.50   (5.66)   to (6.99)  
    12/31/2021 40,015 5.28 to 1.92 196,061   1.08   1.05   to 2.50   18.16   to 16.49  
Putnam VT Government Money Market Class IB Shares                            
    12/31/2025 2,587,473 1.09 to 0.79 2,693,404   3.60   1.05   to 2.50   2.60   to 1.15  
    12/31/2024 2,144,153 1.06 to 0.78 2,141,781   4.55   1.05   to 2.50   3.56   to 2.09  
    12/31/2023 2,003,452 1.02 to 0.77 1,927,227   4.34   1.05   to 2.50   3.35   to 1.89  
    12/31/2022 1,771,265 0.99 to 0.75 1,711,461   1.12   1.05   to 2.50   0.08   to (1.34)  
    12/31/2021 2,153,891 0.99 to 0.76 2,072,030   0.01   1.05   to 2.50   (1.03)   to (2.43)  
Putnam VT Income Class IB Shares                                  
    12/31/2025 78,755 1.90 to 9.46 149,264   4.74   1.25   to 2.50   5.93   to 4.64  
    12/31/2024 78,757 1.79 to 9.04 140,925   5.39   1.25   to 2.50   1.05   to (0.19)  
    12/31/2023 78,761 1.77 to 9.06 139,479   5.68   1.25   to 2.50   3.41   to 2.15  
    12/31/2022 80,354 1.72 to 8.87 137,541   5.60   1.25   to 2.50   (14.87)   to (15.91)  
    12/31/2021 81,267 2.02 to 10.55 163,373   1.46   1.25   to 2.50   (5.76)   to (6.91)  
Putnam VT International Equity Class IB Shares                                
    12/31/2025 21,362 3.70 to 17.63 51,564   0.01   1.05   to 2.50   36.25   to 34.33  
    12/31/2024 24,611 2.72 to 13.12 43,836   2.29   1.05   to 2.50   1.90   to 0.45  
    12/31/2023 32,791 2.67 to 13.06 57,853   0.04   1.05   to 2.50   17.28   to 15.62  
    12/31/2022 33,683 2.27 to 11.30 50,831   1.72   1.05   to 2.50   (15.65)   to (16.84)  
    12/31/2021 54,934 2.70 to 13.59 102,923   1.31   1.05   to 2.50   7.69   to 6.17  
Putnam VT Large Cap Growth Class IB Shares                                
    12/31/2025 196,042 10.23 to 7.37 843,849   -   1.05   to 2.50   13.15   to 11.55  
    12/31/2024 204,927 9.04 to 6.60 793,152   -   1.05   to 2.50   32.01   to 30.14  
    12/31/2023 250,177 6.85 to 5.07 828,647   -   1.05   to 2.50   42.98   to 40.97  
    12/31/2022 258,949 4.79 to 3.60 602,781   -   1.05   to 2.50   (31.22)   to (32.20)  
    12/31/2021 306,483 6.96 to 5.31 1,112,233   -   1.05   to 2.50   21.38   to 19.66  

 

96
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
Putnam VT Large Cap Value Class IB Shares                                
    12/31/2025 485,435 $7.85 to $3.89 $       3,514,323   1.43 % 1.05 % to 2.50 % 19.10 % to 17.42 %
    12/31/2024 543,496 6.59 to 3.31 3,314,914   1.10   1.05   to 2.50   17.90   to 16.22  
    12/31/2023 566,260 5.59 to 2.85 2,932,624   2.02   1.05   to 2.50   14.47   to 12.85  
    12/31/2022 702,229 4.88 to 2.53 3,191,358   1.49   1.05   to 2.50   (4.14)   to (5.49)  
    12/31/2021 721,598 5.09 to 2.67 3,461,996   1.23   1.05   to 2.50   25.98   to 24.20  
Putnam VT Research Class IB Shares                                  
    12/31/2025 42,027 8.26 to 29.29 260,328   0.56   1.05   to 2.50   16.66   to 15.01  
    12/31/2024 42,219 7.08 to 25.47 225,177   0.38   1.05   to 2.50   24.96   to 23.18  
    12/31/2023 42,404 5.67 to 20.67 181,804   0.79   1.05   to 2.50   27.52   to 25.73  
    12/31/2022 42,615 4.44 to 16.44 143,907   0.56   1.05   to 2.50   (18.14)   to (19.30)  
    12/31/2021 42,810 5.43 to 20.38 177,387   0.10   1.05   to 2.50   22.85   to 21.11  
Putnam VT Sustainable Leaders Class IB Shares                                
    12/31/2025 218 8.77 to 28.86 1,860   0.85   1.25   to 2.50   9.33   to 7.99  
    12/31/2024 1,324 8.02 to 26.73 10,576   0.19   1.25   to 2.50   21.50   to 20.01  
    12/31/2023 1,439 6.60 to 22.27 9,462   0.50   1.25   to 2.50   24.55   to 23.04  
    12/31/2022 1,569 5.30 to 18.10 8,289   0.53   1.25   to 2.50   (23.86)   to (24.79)  
    12/31/2021 1,715 6.96 to 24.07 11,906   0.14   1.25   to 2.50   22.01   to 20.52  
TA Aegon Bond Initial Class                                  
    12/31/2025 3,829,101 1.71 to 0.91 6,008,892   6.56   1.05   to 2.95   6.01   to 4.06  
    12/31/2024 3,812,005 1.61 to 0.87 5,756,135   4.08   1.05   to 2.95   1.07   to (0.80)  
    12/31/2023 4,287,143 1.59 to 0.88 6,441,837   0.94   1.05   to 2.95   5.34   to 3.40  
    12/31/2022 4,314,173 1.51 to 0.85 6,200,599   2.47   1.05   to 2.95   (15.72)   to (17.27)  
    12/31/2021 5,398,369 1.79 to 1.03 9,185,424   1.51   1.05   to 2.95   (1.90)   to (3.71)  
TA Aegon Bond Service Class                                  
    12/31/2025 1,630,519 1.67 to 0.99 2,588,776   6.30   0.85   to 2.50   5.88   to 4.18  
    12/31/2024 1,732,616 1.57 to 0.95 2,595,501   3.97   0.85   to 2.50   1.01   to (0.62)  
    12/31/2023 1,853,610 1.56 to 0.95 2,742,477   0.63   0.85   to 2.50   5.29   to 3.60  
    12/31/2022 2,417,219 1.48 to 0.92 3,364,908   2.12   0.85   to 2.50   (15.80)   to (17.15)  
    12/31/2021 3,358,048 1.76 to 1.11 5,631,572   1.22   0.85   to 2.50   (1.90)   to (3.48)  
TA Aegon Core Bond Initial Class                                  
    12/31/2025 867,353 1.73 to 0.91 1,386,176   2.62   1.05   to 2.70   5.88   to 4.18  
    12/31/2024 927,141 1.63 to 0.87 1,401,844   5.35   1.05   to 2.70   0.32   to (1.30)  
    12/31/2023 950,443 1.63 to 0.88 1,438,383   2.73   1.05   to 2.70   4.94   to 3.26  
    12/31/2022 1,029,106 1.55 to 0.86 1,489,501   2.91   1.05   to 2.70   (13.67)   to (15.06)  
    12/31/2021 1,095,687 1.80 to 1.01 1,850,509   2.83   1.05   to 2.70   (2.06)   to (3.63)  
TA Aegon High Yield Bond Initial Class                                  
    12/31/2025 800,190 3.14 to 2.41 2,201,860   6.75   1.05   to 2.95   7.33   to 5.35  
    12/31/2024 961,235 2.92 to 2.29 2,475,933   5.03   1.05   to 2.95   6.31   to 4.34  
    12/31/2023 1,129,982 2.75 to 2.19 2,746,659   4.45   1.05   to 2.95   9.96   to 7.93  
    12/31/2022 1,262,376 2.50 to 2.03 2,802,885   5.49   1.05   to 2.95   (12.04)   to (13.66)  
    12/31/2021 1,669,256 2.84 to 2.35 4,256,233   5.35   1.05   to 2.95   5.24   to 3.30  
TA Aegon High Yield Bond Service Class                                  
    12/31/2025 110,430 2.85 to 12.11 290,875   6.56   0.85   to 2.50   7.35   to 5.63  
    12/31/2024 112,526 2.65 to 11.46 276,266   4.61   0.85   to 2.50   6.24   to 4.52  
    12/31/2023 123,827 2.50 to 10.97 286,849   4.19   0.85   to 2.50   9.94   to 8.17  
    12/31/2022 133,408 2.27 to 10.14 278,370   5.47   0.85   to 2.50   (12.20)   to (13.61)  
    12/31/2021 159,185 2.59 to 11.74 379,575   4.93   0.85   to 2.50   5.36   to 3.66  
TA Aegon Sustainable Equity Income Initial Class                                
    12/31/2025 3,528,794 4.48 to 2.51 10,599,924   1.72   1.05   to 2.95   10.10   to 8.07  
    12/31/2024 3,847,274 4.07 to 2.32 10,616,247   2.04   1.05   to 2.95   15.71   to 13.56  
    12/31/2023 4,369,247 3.52 to 2.04 10,492,913   2.22   1.05   to 2.95   5.18   to 3.24  
    12/31/2022 4,625,490 3.35 to 1.98 10,669,626   2.18   1.05   to 2.95   (12.54)   to (14.16)  
    12/31/2021 5,136,426 3.83 to 2.31 13,619,172   2.12   1.05   to 2.95   21.15   to 18.92  

 

97
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
TA Aegon Sustainable Equity Income Service Class                              
    12/31/2025 549,699 $3.56 to $2.34 $       1,748,938   1.48 % 0.85 % to 2.50 % 10.05 % to 8.28 %
    12/31/2024 596,952 3.24 to 2.16 1,724,191   1.83   0.85   to 2.50   15.61   to 13.74  
    12/31/2023 656,965 2.80 to 1.90 1,633,820   1.91   0.85   to 2.50   5.11   to 3.43  
    12/31/2022 765,730 2.66 to 1.84 1,782,332   1.81   0.85   to 2.50   (12.58)   to (13.99)  
    12/31/2021 907,393 3.05 to 2.13 2,412,027   2.01   0.85   to 2.50   21.09   to 19.14  
TA Aegon U.S. Government Securities Initial Class                                
    12/31/2025 1,679,036 1.41 to 1.06 2,177,671   4.05   1.05   to 2.95   4.75   to 2.82  
    12/31/2024 1,555,899 1.34 to 1.04 1,909,353   3.58   1.05   to 2.95   (0.72)   to (2.56)  
    12/31/2023 1,740,118 1.35 to 1.06 2,159,594   1.77   1.05   to 2.95   2.92   to 1.02  
    12/31/2022 1,514,364 1.31 to 1.05 1,848,656   1.05   1.05   to 2.95   (13.93)   to (15.51)  
    12/31/2021 1,358,235 1.53 to 1.24 2,082,552   2.18   1.05   to 2.95   (3.41)   to (5.19)  
TA Aegon U.S. Government Securities Service Class                              
    12/31/2025 941,169 1.40 to 8.78 1,236,482   3.37   0.85   to 2.50   4.67   to 2.99  
    12/31/2024 1,164,255 1.34 to 8.52 1,451,850   2.85   0.85   to 2.50   (0.69)   to (2.30)  
    12/31/2023 1,863,050 1.35 to 8.72 2,351,342   1.42   0.85   to 2.50   2.82   to 1.16  
    12/31/2022 2,485,350 1.31 to 8.62 3,051,097   0.93   0.85   to 2.50   (14.03)   to (15.41)  
    12/31/2021 1,109,314 1.52 to 10.19 1,578,557   1.75   0.85   to 2.50   (3.36)   to (4.91)  
TA BlackRock Government Money Market Initial Class                            
    12/31/2025 6,832,814 1.13 to 0.75 6,096,941   3.99   1.05   to 2.95   2.99   to 1.08  
    12/31/2024 7,137,083 1.09 to 0.74 6,247,344   4.93   1.05   to 2.95   3.94   to 2.01  
    12/31/2023 7,474,865 1.05 to 0.73 6,442,315   4.75   1.05   to 2.95   3.77   to 1.86  
    12/31/2022 10,064,734 1.01 to 0.71 8,620,370   1.45   1.05   to 2.95   0.35   to (1.49)  
    12/31/2021 9,374,755 1.01 to 0.72 7,961,816   -   1.05   to 2.95   (1.03)   to (2.86)  
TA BlackRock Government Money Market Service Class                            
    12/31/2025 2,922,962 1.14 to 9.50 3,088,884   3.75   0.85   to 2.50   2.93   to 1.27  
    12/31/2024 3,232,759 1.11 to 9.38 3,340,105   4.69   0.85   to 2.50   3.89   to 2.21  
    12/31/2023 4,035,924 1.07 to 9.18 4,043,324   4.55   0.85   to 2.50   3.78   to 2.12  
    12/31/2022 5,449,916 1.03 to 8.99 5,310,610   1.37   0.85   to 2.50   0.55   to (1.06)  
    12/31/2021 6,492,021 1.02 to 9.08 6,326,418   0.01   0.85   to 2.50   (0.84)   to (2.44)  
TA BlackRock iShares Edge 40 Initial Class                                
    12/31/2025 379,347 2.54 to 12.16 821,703   2.86   1.05   to 2.95   10.48   to 8.44  
    12/31/2024 561,906 2.30 to 11.21 1,101,980   2.68   1.05   to 2.95   5.59   to 3.63  
    12/31/2023 621,844 2.18 to 10.82 1,161,426   2.29   1.05   to 2.95   8.31   to 6.32  
    12/31/2022 654,575 2.01 to 10.18 1,138,581   1.80   1.05   to 2.95   (15.13)   to (16.70)  
    12/31/2021 791,754 2.37 to 12.22 1,644,342   1.82   1.05   to 2.95   4.99   to 3.05  
TA BlackRock iShares Edge 40 Service Class                                
    12/31/2025 131,671 2.14 to 12.29 257,290   2.84   0.85   to 2.50   10.49   to 8.71  
    12/31/2024 132,712 1.94 to 11.31 238,905   2.47   0.85   to 2.50   5.57   to 3.87  
    12/31/2023 193,725 1.83 to 10.89 316,220   2.01   0.85   to 2.50   8.15   to 6.41  
    12/31/2022 215,032 1.70 to 10.23 325,359   1.57   0.85   to 2.50   (15.16)   to (16.52)  
    12/31/2021 241,627 2.00 to 12.25 433,905   1.52   0.85   to 2.50   4.88   to 3.20  
TA BlackRock Real Estate Securities Initial Class                                
    12/31/2025 87,234 3.57 to 2.16 269,763   1.81   1.05   to 2.95   8.38   to 6.38  
    12/31/2024 91,534 3.29 to 2.03 262,137   2.15   1.05   to 2.95   0.20   to (1.66)  
    12/31/2023 102,043 3.29 to 2.06 295,587   6.11   1.05   to 2.95   12.15   to 10.09  
    12/31/2022 113,494 2.93 to 1.87 296,046   3.27   1.05   to 2.95   (28.94)   to (30.25)  
    12/31/2021 128,339 4.12 to 2.68 475,080   2.65   1.05   to 2.95   24.91   to 22.61  
TA BlackRock Real Estate Securities Service Class                                
    12/31/2025 77,275 2.87 to 11.32 200,514   1.43   0.85   to 2.50   8.40   to 6.66  
    12/31/2024 80,745 2.65 to 10.62 191,110   1.79   0.85   to 2.50   0.17   to (1.45)  
    12/31/2023 86,166 2.64 to 10.77 201,507   5.31   0.85   to 2.50   12.20   to 10.39  
    12/31/2022 85,002 2.35 to 9.76 176,679   2.83   0.85   to 2.50   (28.99)   to (30.13)  
    12/31/2021 97,831 3.31 to 13.97 287,677   2.00   0.85   to 2.50   24.79   to 22.78  

 

98
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
TA International Focus Initial Class                                  
    12/31/2025 386,964 $1.87 to $1.65 $           701,237   1.72 % 1.70 % to 2.95 % 4.69 % to 3.42 %
    12/31/2024 409,455 1.78 to 1.59 709,309   2.21   1.70   to 2.95   (2.72)   to (3.90)  
    12/31/2023 506,589 1.83 to 1.66 902,202   2.00   1.70   to 2.95   10.66   to 9.32  
    12/31/2022 540,347 1.66 to 1.52 871,418   2.90   1.70   to 2.95   (21.38)   to (22.33)  
    12/31/2021 745,830 2.11 to 1.95 1,536,548   1.27   1.70   to 2.95   8.97   to 7.64  
TA International Focus Service Class                                  
    12/31/2025 280,678 2.67 to 13.34 743,664   1.52   0.85   to 2.50   5.34   to 3.64  
    12/31/2024 274,929 2.54 to 12.87 693,971   2.11   0.85   to 2.50   (2.16)   to (3.75)  
    12/31/2023 290,921 2.59 to 13.37 747,702   1.78   0.85   to 2.50   11.33   to 9.54  
    12/31/2022 291,603 2.33 to 12.21 673,246   2.76   0.85   to 2.50   (20.97)   to (22.24)  
    12/31/2021 305,363 2.95 to 15.70 889,230   1.09   0.85   to 2.50   9.70   to 7.93  
TA Janus Mid-Cap Growth Initial Class                                  
    12/31/2025 1,537,244 6.58 to 2.76 8,237,177   0.01   1.05   to 2.95   6.99   to 5.01  
    12/31/2024 1,747,817 6.15 to 2.63 8,837,727   0.13   1.05   to 2.95   13.19   to 11.09  
    12/31/2023 1,864,187 5.44 to 2.37 8,334,812   -   1.05   to 2.95   15.83   to 13.70  
    12/31/2022 1,988,259 4.69 to 2.08 7,705,913   -   1.05   to 2.95   (17.58)   to (19.10)  
    12/31/2021 2,204,248 5.70 to 2.57 10,372,495   0.27   1.05   to 2.95   16.08   to 13.94  
TA Janus Mid-Cap Growth Service Class                                  
    12/31/2025 75,445 5.52 to 22.59 367,742   -   0.85   to 2.50   6.94   to 5.22  
    12/31/2024 108,145 5.16 to 21.47 492,282   -   0.85   to 2.50   13.10   to 11.27  
    12/31/2023 114,776 4.56 to 19.30 464,567   -   0.85   to 2.50   15.82   to 13.96  
    12/31/2022 180,006 3.94 to 16.93 651,869   -   0.85   to 2.50   (17.63)   to (18.96)  
    12/31/2021 184,789 4.78 to 20.90 815,131   0.10   0.85   to 2.50   16.00   to 14.14  
TA JPMorgan Asset Allocation - Conservative Initial Class                            
    12/31/2025 4,279,728 2.61 to 1.70 9,050,576   3.98   1.05   to 2.95   9.48   to 7.46  
    12/31/2024 4,453,688 2.38 to 1.58 8,778,614   2.02   1.05   to 2.95   4.62   to 2.67  
    12/31/2023 5,105,337 2.28 to 1.54 9,660,945   2.28   1.05   to 2.95   5.94   to 3.99  
    12/31/2022 5,429,479 2.15 to 1.48 9,643,448   5.51   1.05   to 2.95   (16.23)   to (17.78)  
    12/31/2021 5,864,348 2.56 to 1.80 12,486,252   2.46   1.05   to 2.95   4.80   to 2.87  
TA JPMorgan Asset Allocation - Conservative Service Class                            
    12/31/2025 5,540,551 2.19 to 1.28 11,574,453   3.72   0.85   to 2.50   9.43   to 7.66  
    12/31/2024 6,422,502 2.01 to 1.19 12,243,709   1.76   0.85   to 2.50   4.62   to 2.93  
    12/31/2023 7,631,531 1.92 to 1.15 13,949,410   1.93   0.85   to 2.50   5.93   to 4.23  
    12/31/2022 9,832,610 1.81 to 1.11 16,882,236   5.29   0.85   to 2.50   (16.32)   to (17.66)  
    12/31/2021 11,621,815 2.16 to 1.34 23,899,316   2.16   0.85   to 2.50   4.74   to 3.05  
TA JPMorgan Asset Allocation - Moderate Initial Class                            
    12/31/2025 6,436,376 3.25 to 2.09 16,451,970   3.23   1.05   to 2.95   10.73   to 8.69  
    12/31/2024 6,752,615 2.93 to 1.93 15,660,612   1.57   1.05   to 2.95   6.89   to 4.91  
    12/31/2023 7,603,630 2.75 to 1.84 16,594,046   2.08   1.05   to 2.95   7.97   to 5.99  
    12/31/2022 8,422,527 2.54 to 1.73 17,163,301   5.23   1.05   to 2.95   (16.95)   to (18.48)  
    12/31/2021 9,844,167 3.06 to 2.12 24,327,651   1.85   1.05   to 2.95   8.05   to 6.05  
TA JPMorgan Asset Allocation - Moderate Service Class                            
    12/31/2025 12,530,618 2.68 to 1.96 32,230,483   3.08   0.85   to 2.50   10.60   to 8.82  
    12/31/2024 14,729,337 2.42 to 1.80 34,291,488   1.36   0.85   to 2.50   6.78   to 5.06  
    12/31/2023 16,394,992 2.27 to 1.72 36,159,275   1.83   0.85   to 2.50   7.94   to 6.21  
    12/31/2022 19,380,636 2.10 to 1.62 39,737,043   5.03   0.85   to 2.50   (16.96)   to (18.29)  
    12/31/2021 22,462,423 2.53 to 1.98 55,668,430   1.67   0.85   to 2.50   8.01   to 6.28  
TA JPMorgan Asset Allocation - Moderate Growth Initial Class                          
    12/31/2025 8,468,440 4.04 to 1.74 26,237,915   2.69   1.05   to 2.95   11.96   to 9.89  
    12/31/2024 9,317,060 3.61 to 1.59 26,022,435   1.22   1.05   to 2.95   9.89   to 7.85  
    12/31/2023 10,102,270 3.28 to 1.47 25,888,100   1.96   1.05   to 2.95   11.05   to 9.01  
    12/31/2022 11,063,497 2.96 to 1.35 25,695,784   5.27   1.05   to 2.95   (18.21)   to (19.72)  
    12/31/2021 12,277,126 3.61 to 1.68 34,803,614   2.19   1.05   to 2.95   12.76   to 10.68  

 

99
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
TA JPMorgan Asset Allocation - Moderate Growth Service Class                          
    12/31/2025 25,076,627 $3.26 to $2.52 $     75,002,988   2.45 % 0.85 % to 2.50 % 11.89 % to 10.09 %
    12/31/2024 29,328,596 2.91 to 2.29 78,327,012   0.97   0.85   to 2.50   9.76   to 7.99  
    12/31/2023 33,721,222 2.65 to 2.12 82,272,943   1.71   0.85   to 2.50   10.99   to 9.21  
    12/31/2022 39,911,176 2.39 to 1.94 87,877,402   5.06   0.85   to 2.50   (18.22)   to (19.54)  
    12/31/2021 45,559,961 2.92 to 2.41 122,884,732   1.93   0.85   to 2.50   12.75   to 10.93  
TA JPMorgan Diversified Equity Allocation Initial Class                            
    12/31/2025 1,937,771 5.62 to 2.42 7,979,679   1.37   1.05   to 2.95   18.21   to 16.03  
    12/31/2024 2,216,334 4.76 to 2.08 7,803,093   1.34   1.05   to 2.95   15.16   to 13.02  
    12/31/2023 2,377,051 4.13 to 1.84 7,334,962   1.69   1.05   to 2.95   19.09   to 16.90  
    12/31/2022 2,782,552 3.47 to 1.58 7,325,453   6.03   1.05   to 2.95   (23.37)   to (24.78)  
    12/31/2021 3,416,858 4.53 to 2.10 12,101,852   1.66   1.05   to 2.95   18.40   to 16.21  
TA JPMorgan Diversified Equity Allocation Service Class                            
    12/31/2025 1,948,177 4.38 to 2.78 8,118,685   1.26   0.85   to 2.50   18.06   to 16.16  
    12/31/2024 2,439,061 3.71 to 2.39 8,606,039   1.13   0.85   to 2.50   15.11   to 13.25  
    12/31/2023 2,649,762 3.22 to 2.11 8,125,097   1.44   0.85   to 2.50   19.00   to 17.09  
    12/31/2022 2,999,145 2.71 to 1.80 7,826,570   5.64   0.85   to 2.50   (23.39)   to (24.62)  
    12/31/2021 3,369,736 3.53 to 2.39 11,636,639   1.52   0.85   to 2.50   18.34   to 16.44  
TA JPMorgan Enhanced Index Initial Class                                
    12/31/2025 2,429,848 4.72 to 5.58 11,100,349   0.70   1.15   to 2.95   14.89   to 12.89  
    12/31/2024 2,637,107 4.11 to 4.94 10,532,039   0.65   1.15   to 2.95   22.82   to 20.66  
    12/31/2023 1,083,837 3.35 to 4.09 3,456,144   0.79   1.15   to 2.95   26.22   to 24.02  
    12/31/2022 1,301,177 2.65 to 3.30 3,312,836   0.64   1.15   to 2.95   (19.28)   to (20.69)  
    12/31/2021 1,629,490 3.28 to 4.16 5,171,395   0.79   1.15   to 2.95   28.64   to 26.39  
TA JPMorgan Enhanced Index Service Class                                
    12/31/2025 110,116 7.01 to 27.13 757,973   0.51   0.85   to 2.50   14.92   to 13.07  
    12/31/2024 154,959 6.10 to 24.00 914,893   0.44   0.85   to 2.50   22.85   to 20.86  
    12/31/2023 192,663 4.97 to 19.85 925,230   0.63   0.85   to 2.50   26.32   to 24.29  
    12/31/2022 147,854 3.93 to 15.97 569,242   0.40   0.85   to 2.50   (19.23)   to (20.53)  
    12/31/2021 164,878 4.87 to 20.10 786,561   0.57   0.85   to 2.50   28.69   to 26.62  
TA JPMorgan International Moderate Growth Initial Class                            
    12/31/2025 164,900 1.71 to 13.70 261,037   3.37   1.05   to 2.65   16.79   to 14.97  
    12/31/2024 170,294 1.46 to 11.91 231,730   2.49   1.05   to 2.65   0.97   to (0.62)  
    12/31/2023 237,093 1.45 to 11.99 325,972   1.63   1.05   to 2.65   8.03   to 6.35  
    12/31/2022 245,476 1.34 to 11.27 313,179   5.30   1.05   to 2.65   (18.14)   to (19.41)  
    12/31/2021 234,770 1.64 to 13.99 367,266   1.52   1.05   to 2.65   8.12   to 6.43  
TA JPMorgan International Moderate Growth Service Class                            
    12/31/2025 3,078,506 1.69 to 1.40 4,983,236   3.08   0.85   to 2.50   16.68   to 14.80  
    12/31/2024 3,566,235 1.45 to 1.22 4,973,892   2.13   0.85   to 2.50   1.03   to (0.61)  
    12/31/2023 4,073,864 1.43 to 1.23 5,635,339   1.32   0.85   to 2.50   7.79   to 6.05  
    12/31/2022 4,767,937 1.33 to 1.16 6,130,222   4.71   0.85   to 2.50   (18.12)   to (19.43)  
    12/31/2021 5,567,250 1.62 to 1.44 8,726,526   1.28   0.85   to 2.50   8.09   to 6.35  
TA JPMorgan Tactical Allocation Initial Class                                
    12/31/2025 228,968 2.13 to 1.21 451,344   3.34   1.05   to 2.50   7.96   to 6.43  
    12/31/2024 265,951 1.98 to 1.13 487,551   2.81   1.05   to 2.50   3.18   to 1.71  
    12/31/2023 287,497 1.92 to 1.12 512,676   1.93   1.05   to 2.50   7.77   to 6.25  
    12/31/2022 317,535 1.78 to 1.05 527,290   1.95   1.05   to 2.50   (15.69)   to (16.88)  
    12/31/2021 358,972 2.11 to 1.26 709,200   1.73   1.05   to 2.50   3.82   to 2.35  
TA JPMorgan Tactical Allocation Service Class                                
    12/31/2025 214,884 2.02 to 1.28 374,117   2.86   1.05   to 2.50   7.70   to 6.18  
    12/31/2024 255,501 1.88 to 1.20 413,714   2.41   1.05   to 2.50   2.99   to 1.53  
    12/31/2023 336,997 1.82 to 1.18 536,404   1.56   1.05   to 2.50   7.44   to 5.92  
    12/31/2022 406,923 1.70 to 1.12 604,675   1.53   1.05   to 2.50   (15.91)   to (17.10)  
    12/31/2021 488,264 2.02 to 1.35 859,624   1.53   1.05   to 2.50   3.55   to 2.08  

 

100
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
TA Multi-Managed Balanced Initial Class                                
    12/31/2025 535,757 $5.37 to $3.31 $       2,352,974   2.09 % 1.05 % to 2.95 % 11.89 % to 9.82 %
    12/31/2024 686,111 4.80 to 3.02 2,708,365   1.92   1.05   to 2.95   13.74   to 11.63  
    12/31/2023 786,479 4.22 to 2.70 2,751,817   1.56   1.05   to 2.95   17.50   to 15.34  
    12/31/2022 888,148 3.59 to 2.34 2,663,699   1.15   1.05   to 2.95   (17.15)   to (18.68)  
    12/31/2021 1,036,161 4.34 to 2.88 3,773,835   1.18   1.05   to 2.95   15.82   to 13.69  
TA Multi-Managed Balanced Service Class                                
    12/31/2025 4,108,284 4.84 to 18.27 16,253,766   1.86   0.85   to 2.50   11.78   to 9.98  
    12/31/2024 4,715,262 4.33 to 16.61 16,791,789   1.68   0.85   to 2.50   13.67   to 11.83  
    12/31/2023 5,782,028 3.81 to 14.85 18,552,729   1.34   0.85   to 2.50   17.44   to 15.56  
    12/31/2022 6,203,346 3.24 to 12.85 17,073,179   0.90   0.85   to 2.50   (17.19)   to (18.52)  
    12/31/2021 7,514,542 3.92 to 15.78 24,977,434   0.95   0.85   to 2.50   15.81   to 13.94  
TA Small/Mid Cap Value Initial Class                                  
    12/31/2025 312,194 2.76 to 15.95 3,341,927   1.26   1.05   to 2.95   8.67   to 6.67  
    12/31/2024 327,718 2.54 to 14.95 3,310,485   0.94   1.05   to 2.95   7.72   to 5.72  
    12/31/2023 371,799 2.36 to 14.15 3,478,477   1.05   1.05   to 2.95   11.23   to 9.19  
    12/31/2022 384,091 2.12 to 12.96 3,323,511   0.60   1.05   to 2.95   (9.26)   to (10.93)  
    12/31/2021 410,597 2.34 to 14.55 3,921,327   0.65   1.05   to 2.95   26.79   to 24.46  
TA T. Rowe Price Small Cap Initial Class                                  
    12/31/2025 355,535 8.77 to 4.77 1,768,688   -   1.05   to 2.95   9.12   to 7.11  
    12/31/2024 390,677 8.03 to 4.46 1,773,470   -   1.05   to 2.95   11.60   to 9.53  
    12/31/2023 512,843 7.20 to 4.07 2,158,825   -   1.05   to 2.95   19.94   to 17.74  
    12/31/2022 639,702 6.00 to 3.46 2,201,377   -   1.05   to 2.95   (23.19)   to (24.61)  
    12/31/2021 721,502 7.81 to 4.58 3,207,903   -   1.05   to 2.95   10.22   to 8.18  
TA T. Rowe Price Small Cap Service Class                                
    12/31/2025 130,618 6.31 to 18.78 750,606   -   0.85   to 2.50   9.01   to 7.25  
    12/31/2024 139,391 5.79 to 17.51 740,078   -   0.85   to 2.50   11.66   to 9.85  
    12/31/2023 146,785 5.19 to 15.94 701,569   -   0.85   to 2.50   19.86   to 17.94  
    12/31/2022 141,468 4.33 to 13.52 559,280   -   0.85   to 2.50   (23.25)   to (24.48)  
    12/31/2021 107,306 5.64 to 17.90 535,984   -   0.85   to 2.50   10.15   to 8.37  
TA TSW International Equity Initial Class                                
    12/31/2025 384,335 1.86 to 2.27 715,164   2.24   1.70   to 2.95   29.66   to 28.08  
    12/31/2024 447,908 1.43 to 1.77 643,756   2.78   1.70   to 2.95   1.65   to 0.41  
    12/31/2023 542,519 1.41 to 1.76 764,305   1.12   1.70   to 2.95   13.55   to 12.18  
    12/31/2022 561,963 1.24 to 1.57 687,436   3.49   1.70   to 2.95   (15.83)   to (16.85)  
    12/31/2021 629,700 1.47 to 1.89 919,239   1.89   1.70   to 2.95   11.52   to 10.16  
TA TSW International Equity Service Class                                
    12/31/2025 158,325 3.04 to 15.82 436,935   2.10   0.85   to 2.50   30.31   to 28.22  
    12/31/2024 191,072 2.34 to 12.34 396,530   2.65   0.85   to 2.50   2.24   to 0.59  
    12/31/2023 236,034 2.28 to 12.26 480,592   0.79   0.85   to 2.50   14.29   to 12.46  
    12/31/2022 224,308 2.00 to 10.91 400,652   3.07   0.85   to 2.50   (15.35)   to (16.71)  
    12/31/2021 247,965 2.36 to 13.09 527,518   1.74   0.85   to 2.50   12.25   to 10.44  
TA TSW Mid Cap Value Opportunities Initial Class                                
    12/31/2025 275,189 6.57 to 2.69 1,249,042   1.24   1.05   to 2.70   8.42   to 6.68  
    12/31/2024 295,064 6.06 to 2.52 1,237,469   1.39   1.05   to 2.70   7.35   to 5.61  
    12/31/2023 349,968 5.64 to 2.39 1,385,747   1.49   1.05   to 2.70   9.66   to 7.90  
    12/31/2022 378,303 5.14 to 2.21 1,369,744   0.83   1.05   to 2.70   (9.18)   to (10.64)  
    12/31/2021 407,202 5.66 to 2.48 1,633,164   0.77   1.05   to 2.70   27.85   to 25.80  
TA WMC US Growth Initial Class                                  
    12/31/2025 10,126,764 10.63 to 4.63 48,285,300   -   1.05   to 2.95   16.54   to 14.39  
    12/31/2024 11,647,779 9.12 to 4.05 48,115,421   0.01   1.05   to 2.95   27.65   to 25.28  
    12/31/2023 12,926,340 7.15 to 3.23 41,990,922   0.04   1.05   to 2.95   40.61   to 38.03  
    12/31/2022 10,962,324 5.08 to 2.34 25,945,070   -   1.05   to 2.95   (32.06)   to (33.31)  
    12/31/2021 12,073,568 7.48 to 3.51 41,899,264   0.08   1.05   to 2.95   19.41   to 17.21  
101
 
5. Financial Highlights (continued)                                  
                                         
      At December 31   For the Year Ended December 31  
          Unit Fair Value           Expense Total Return***  
          Corresponding to       Investment Ratio**     Corresponding to    
          Lowest to Highest   Net   Income Lowest to     Lowest to Highest    
Subaccount Units   Expense Ratio   Assets   Ratio* Highest     Expense Ratio    
TA WMC US Growth Service Class                                  
    12/31/2025 744,198 $8.40 to $34.25 $       5,899,725   - % 0.85 % to 2.50 % 16.48 % to 14.61 %
    12/31/2024 891,529 7.21 to 29.89 6,119,411   -   0.85   to 2.50   27.60   to 25.54  
    12/31/2023 1,101,171 5.65 to 23.81 5,968,391   -   0.85   to 2.50   40.53   to 38.28  
    12/31/2022 1,084,682 4.02 to 17.22 4,228,617   -   0.85   to 2.50   (32.09)   to (33.18)  
    12/31/2021 1,149,548 5.92 to 25.77 6,666,775   -   0.85   to 2.50   19.36   to 17.44  
                                         
   (1) See Footnote 1                                  
                                         
  * These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets.  These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units.  The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest.  
  ** These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated.  These ratios include only those expenses that result in a direct reduction to unit values.  Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded.  
                                         
  *** These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values.  These ratios do not include any expenses assessed through the redemption of units.  Investment options with a date notation indicate the effective date of that investment option in the variable account.  The total return is calculated for each period indicated or from the effective date through the end of the reporting period.  Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return.  Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return.  
 
 
102
 
 
  Transamerica Life Insurance Company
  Retirement Builder Variable Annuity Account
  Notes to Financial Statements
  December 31, 2025
                   
                   
                   
6.  Administrative and Mortality and Expense Risk Charges
                   
TLIC deducts a daily administrative charge equal to an annual rate of .15% to .40% of the daily net assets value of each subaccount for administrative expenses.  TLIC may also deduct an annual charge during the accumulation phase, not to exceed $30, proportionately from the subaccounts’ unit values.   An annual charge ranging from .70% to 3.70% is deducted (based on the death benefit selected) from the unit values of the subaccounts of the Separate Account for TLIC's assumption  of certain mortality and expense risks incurred in connection with the contract.  The charge is assessed daily based on the net asset value of the Mutual Fund.  Charges for administrative and mortality and expense risk are an expense of the subaccount.   Charges reflected above are those currently assessed and may be subject to change.  Contract owners should see their actual policy and any related attachments to determine their specific charges.
                   
7.  Income Tax
                   
Operations of the Separate Account form a part of TLIC, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended (the Code).   The operations of the Separate Account are accounted for separately from other operations of TLIC for purposes of federal income taxation.  The Separate Account is not separately taxable as a regulated investment company under Subchapter M of the Code and is not otherwise taxable as an entity separate from TLIC.  Under existing federal income tax laws, the income of the Separate Account is not taxable to TLIC, as long as earnings are credited under the variable annuity contracts.
 
103
 
 
  Transamerica Life Insurance Company
  Retirement Builder Variable Annuity Account
  Notes to Financial Statements
  December 31, 2025
                   
                   
8.  Subsequent Events
                   
The Separate Account has evaluated the financial statements for subsequent events through the date which the financial statements were issued.  During this period, there were no subsequent events requiring recognition in the financial statements.
                   
9.  Related Parties
                   
Transamerica Capital, Inc. (TCI), a wholesaling broker-dealer, is an affiliated entity of TLIC and an indirect wholly owned subsidiary of Aegon Ltd.  TCI distributes TLIC's products through broker-dealers and other financial intermediaries.
                   
The subaccounts invest in the mutual funds listed in Footnote 1.  These investments include funds managed by Transamerica Asset Management, Inc. (TAM).  Transamerica Fund Services, Inc. (TFS) serves as a transfer agent to TAM, and Aegon USA Asset Management Holding, LLC (AAM) serves as a sub-advisor for certain funds managed by TAM.  TAM, TFS and AAM are affiliated entities of TLIC and indirect wholly owned subsidiaries of Aegon Ltd.  Funds managed by TAM are identified by their fund name, which includes reference to Aegon, Transamerica or both.  The Separate Account pays management fees to the related funds as detailed in the fund prospectus.
                   
No charges other than those disclosed in Footnote 6 are deducted for the service rendered by related parties.
                   
Contract owners may transfer funds between available subaccount options within the Separate Account.  These transfers are performed at unit value at the time of the transfer.
 
104
 
 
  Transamerica Life Insurance Company
  Retirement Builder Variable Annuity Account
  Notes to Financial Statements
  December 31, 2025
                   
                   
10.  Segment Reporting
                   
Each fund of the Separate Account constitutes a single operating segment and therefore, a single reportable segment because the Chief Operating Decision Maker (CODM) manages the activities of the Separate Account using information of each fund.  The Separate Account is engaged in a single line of business as a registered unit investment trust.  The Separate Account is a funding vehicle for individual variable annuity contracts with the assets owned by TLIC to support the liabilities of the applicable insurance contracts.  The subaccounts have identified the President and Chief Operating Officer as the CODM as the Separate Account does not have employees and is not a separate legal entity.
                   
The CODM uses increase (decrease) in net assets from operations as their performance measure in order to make operational decisions while monitoring the net assets of each of the funds within the Separate Account.  The Accounting policies used to measure profit and loss of the segments are the same as those described in the Summary of Significant Accounting Policies (see note 2).  The measure of segment assets is reported on the balance sheet as total consolidated assets.  Refer to the Statements of Operations and Changes in Net Assets for each fund’s operating segment and related footnotes for significant expenses principle and the existing segment requirements as of December 31, 2025 and for the year ended December 31, 2025 and December 31, 2024.
 
105
 
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