GLA_VA

Report of Independent Registered Public Accounting Firm

To the Board of Directors of

Genworth Life and Annuity Insurance Company

and

Contract Owners of

Genworth Life & Annuity VA Separate Account 1:

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of the subaccounts listed in the Appendix that comprise Genworth Life & Annuity VA Separate Account 1 (the Subaccounts), as of December 31, 2025, the related statements of operations for the year or period listed in the Appendix, the statements of changes in net assets for each of the years or periods listed in the Appendix, and the related notes (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Subaccounts as of December 31, 2025, the results of their operations for the year or period listed in the Appendix, and the changes in their net assets for each of the years or periods listed in the Appendix, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Subaccounts’ management. Our responsibility is to express an opinion on these 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 Subaccounts 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. Such procedures also included confirmation of securities owned as of December 31, 2025, by correspondence with the transfer agent of the underlying investments. 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/ KPMG LLP

We have served as the auditor of one or more Genworth Life and Annuity Insurance Company separate account investment companies since 1997.

Richmond, Virginia

April 23, 2026

F-1

Appendix

Statements of assets and liabilities as of December 31, 2025, the related statements of operations for the year then ended, and the statements of changes in net assets for each of the years in the two-year period then ended.

AB Variable Products Series Fund, Inc.

AB VPS Balanced Hedged Allocation Portfolio — Class B

AB VPS International Value Portfolio — Class B

AB VPS Large Cap Growth Portfolio — Class B

AB VPS Relative Value Portfolio — Class B

AB VPS Small Cap Growth Portfolio — Class B

AB VPS Sustainable Global Thematic Portfolio — Class B

Advanced Series Trust

AST International Equity Portfolio — Class I Shares

AIM Variable Insurance Funds (Invesco Variable Insurance Funds)

Invesco V.I. American Franchise Fund — Series I shares

Invesco V.I. American Franchise Fund — Series II shares

Invesco V.I. American Value Fund — Series II shares

Invesco V.I. Comstock Fund — Series II shares

Invesco V.I. Core Equity Fund — Series I shares

Invesco V.I. Core Plus Bond Fund — Series I shares

Invesco V.I. Discovery Large Cap Fund — Series I shares (1)

Invesco V.I. Discovery Large Cap Fund — Series II Shares (1)

Invesco V.I. Discovery Mid Cap Growth Fund — Series I shares

Invesco V.I. Discovery Mid Cap Growth Fund — Series II shares

Invesco V.I. EQV International Equity Fund — Series II shares

Invesco V.I. Equity and Income Fund — Series I shares

Invesco V.I. Equity and Income Fund — Series II shares

Invesco V.I. Global Fund — Series II shares

Invesco V.I. Global Real Estate Fund — Series II shares

Invesco V.I. Global Strategic Income Fund — Series I shares

Invesco V.I. Government Securities Fund — Series I shares

Invesco V.I. Main Street Fund^® — Series II shares

Invesco V.I. Main Street Small Cap Fund^® — Series II shares

Invesco V.I. Technology Fund — Series I shares

Allspring Variable Trust

Allspring VT Discovery All Cap Growth Fund — Class 2

BNY Mellon

BNY Mellon Investment Portfolios — MidCap Stock Portfolio — Initial Shares

BNY Mellon Sustainable U.S. Equity Portfolio, Inc. — Initial Shares

BNY Mellon Variable Investment Fund — Government Money Market Portfolio

BlackRock Variable Series Funds, Inc.

BlackRock Advantage SMID Cap V.I. Fund — Class III Shares

BlackRock Basic Value V.I. Fund — Class III Shares

BlackRock Global Allocation V.I. Fund — Class III Shares

BlackRock Large Cap Focus Growth V.I. Fund — Class III Shares

Columbia Funds Variable Series Trust II

CTIVP^® — Principal Large Cap Growth Fund — Class 1 (1)

Columbia Variable Portfolio — Overseas Core Fund — Class 2

Deutsche DWS Variable Series II

DWS Small Mid Cap Value VIP — Class B Shares

Eaton Vance Variable Trust

VT Floating — Rate Income Fund

F-2

Federated Hermes Insurance Series

Federated Hermes High Income Bond Fund II — Primary Shares

Federated Hermes High Income Bond Fund II — Service Shares

Federated Hermes Kaufmann Fund II — Service Shares

Federated Hermes Managed Volatility Fund II — Primary Shares

Fidelity^® Variable Insurance Products Fund

VIP Asset Manager 50% Portfolio — Initial Class (1)

VIP Asset Manager 50% Portfolio — Service Class 2 (1)

VIP Balanced Portfolio — Service Class 2

VIP Contrafund^® Portfolio — Initial Class

VIP Contrafund^®Portfolio — Service Class 2

VIP Dynamic Capital Appreciation Portfolio — Service Class 2

VIP Equity-Income Portfolio^SM — Initial Class

VIP Equity-Income Portfolio^SM — Service Class 2

VIP Growth & Income Portfolio — Initial Class

VIP Growth & Income Portfolio — Service Class 2

VIP Growth Opportunities Portfolio — Initial Class

VIP Growth Opportunities Portfolio — Service Class 2

VIP Growth Portfolio — Initial Class

VIP Growth Portfolio — Service Class 2

VIP Investment Grade Bond Portfolio — Service Class 2

VIP Mid Cap Portfolio — Initial Class

VIP Mid Cap Portfolio — Service Class 2

VIP Overseas Portfolio — Initial Class

VIP Value Strategies Portfolio — Service Class 2

Franklin Templeton Variable Insurance Products Trust

Franklin Allocation VIP Fund — Class 2 Shares

Franklin Income VIP Fund — Class 2 Shares

Franklin Large Cap Growth VIP Fund — Class 2 Shares

Franklin Mutual Shares VIP Fund — Class 2 Shares

Templeton Foreign VIP Fund — Class 1 Shares

Templeton Foreign VIP Fund — Class 2 Shares

Templeton Global Bond VIP Fund — Class 1 Shares

Templeton Growth VIP Fund — Class 2 Shares

Goldman Sachs Variable Insurance Trust

Goldman Sachs Government Money Market Fund — Service Shares

Goldman Sachs Large Cap Value Fund — Institutional Shares

Goldman Sachs Mid Cap Value Fund — Institutional Shares

Janus Aspen Series

Janus Henderson Balanced Portfolio — Institutional Shares

Janus Henderson Balanced Portfolio — Service Shares

Janus Henderson Enterprise Portfolio — Institutional Shares

Janus Henderson Enterprise Portfolio — Service Shares

Janus Henderson Flexible Bond Portfolio — Institutional Shares

Janus Henderson Forty Portfolio — Institutional Shares

Janus Henderson Forty Portfolio — Service Shares

Janus Henderson Global Research Portfolio — Institutional Shares

Janus Henderson Global Research Portfolio — Service Shares

Janus Henderson Global Technology and Innovation Portfolio — Service Shares

Janus Henderson Overseas Portfolio — Institutional Shares

Janus Henderson Overseas Portfolio — Service Shares

Janus Henderson Research Portfolio — Institutional Shares

Janus Henderson Research Portfolio — Service Shares

F-3

Legg Mason Partners Variable Equity Trust

ClearBridge Variable Dividend Strategy Portfolio — Class I

ClearBridge Variable Dividend Strategy Portfolio — Class II

ClearBridge Variable Growth Portfolio — Class II (1)

ClearBridge Variable Large Cap Value Portfolio — Class I

Lincoln Variable Insurance Products Trust

LVIP American Century Disciplined Core Value Fund — Standard Class II (1)

LVIP American Century Inflation Protection Fund — Service Class (1)

LVIP American Century International Fund — Standard Class II (1)

LVIP American Century Ultra^® Fund — Standard Class II (1)

LVIP American Century Value Fund — Standard Class II (1)

LVIP JPMorgan Core Bond Fund — Standard Class

LVIP JPMorgan Mid Cap Value Fund — Standard Class

LVIP JPMorgan Small Cap Core Fund — Standard Class

LVIP JPMorgan U.S. Equity Fund — Standard Class

MFS^® Variable Insurance Trust

MFS^® Investors Trust Series — Service Class Shares

MFS^® New Discovery Series — Service Class Shares

MFS^® Total Return Series — Service Class Shares

MFS^® Utilities Series — Service Class Shares

MFS^® Variable Insurance Trust II

MFS^® Income Portfolio — Service Class Shares

MFS^® Massachusetts Investors Growth Stock Portfolio — Service Class Shares

PIMCO Variable Insurance Trust

All Asset Portfolio — Advisor Class Shares

High Yield Portfolio — Administrative Class Shares

International Bond Portfolio (U.S. Dollar Hedged) — Administrative Class Shares

Long-Term U.S. Government Portfolio — Administrative Class Shares

Low Duration Portfolio — Administrative Class Shares

Total Return Portfolio — Administrative Class Shares

Rydex Variable Trust

NASDAQ — 100^® Fund

State Street Variable Insurance Series Funds, Inc.

Income V.I.S. Fund — Class 1 Shares

Premier Growth Equity V.I.S. Fund — Class 1 Shares

Real Estate Securities V.I.S. Fund — Class 1 Shares

S&P 500^® Index V.I.S. Fund — Class 1 Shares

Small-Cap Equity V.I.S. Fund — Class 1 Shares

Total Return V.I.S. Fund — Class 1 Shares

Total Return V.I.S. Fund — Class 3 Shares

U.S. Equity V.I.S. Fund — Class 1 Shares

The Alger Portfolios

Alger Large Cap Growth Portfolio — Class I-2 Shares

Alger Small Cap Growth Portfolio — Class I-2 Shares

The Prudential Series Fund

PSF PGIM Jennison Blend Portfolio — Class II Shares

PSF PGIM Jennison Growth Portfolio — Class II Shares

Statements of assets and liabilities as of December 31, 2025, the related statements of operations for the period from January 1, 2025 to April 11, 2025 (liquidation date) and the statements of changes in net assets for the period from January 1, 2025 to April 11, 2025 (liquidation date) and for the year ended December 31, 2024.

The Prudential Series Fund

PSF Mid-Cap Growth Portfolio — Class II Shares

PSF Natural Resources Portfolio — Class II Shares

(1)	See Note 1 to the financial statements for the former name of the subaccount.

F-4

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Assets and Liabilities

December 31, 2025



	AB Variable Products Series Fund, Inc.

	AB VPS Balanced Hedged Allocation Portfolio — Class B		AB VPS International Value Portfolio — Class B		AB VPS Large Cap Growth Portfolio — Class B		AB VPS Relative Value Portfolio — Class B		AB VPS Small Cap Growth Portfolio — Class B

Assets:
Investments at fair value (note 2b)		$5,325,555		$16,862,081		$11,836,975		$24,686,698		$2,390,031
Dividend receivable		—		—		—		—		—
Receivable for units sold		—		—		4		—		—
Total assets		5,325,555		16,862,081		11,836,979		24,686,698		2,390,031

Liabilities:
Accrued expenses payable to affiliate (note 4b)		278		694		514		1,050		102
Payable for units withdrawn		17,990		188		—		15,673		1
Total liabilities		18,268		882		514		16,723		103

Net assets attributable to:
Variable annuity contract owners in the accumulation period		4,772,387		16,851,566		11,456,054		24,296,253		2,388,670
Variable annuity contract owners in the annuitization period		534,900		9,633		380,411		373,722		1,258
Net assets		$5,307,287		$16,861,199		$11,836,465		$24,669,975		$2,389,928

Investments in securities at cost		$5,347,190		$14,101,962		$8,360,256		$21,549,158		$2,993,228
Shares outstanding		541,765		809,898		145,275		800,217		242,397



	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)

	Invesco V.I. Discovery Large Cap Fund — Series I shares		Invesco V.I. Discovery Large Cap Fund — Series II Shares		Invesco V.I. Discovery Mid Cap Growth Fund — Series I shares		Invesco V.I. Discovery Mid Cap Growth Fund — Series II shares		Invesco V.I. EQV International Equity Fund — Series II shares

Assets:
Investments at fair value (note 2b)		$24,273,984		$9,569,195		$19,329,546		$6,141,331		$20,662,455
Dividend receivable		—		—		—		—		—
Receivable for units sold		—		289		—		182		—
Total assets		24,273,984		9,569,484		19,329,546		6,141,513		20,662,455

Liabilities:
Accrued expenses payable to affiliate (note 4b)		936		395		719		261		948
Payable for units withdrawn		10,248		—		13,087		—		9,976
Total liabilities		11,184		395		13,806		261		10,924

Net assets attributable to:
Variable annuity contract owners in the accumulation period		24,116,168		9,431,621		19,073,368		6,132,524		20,067,111
Variable annuity contract owners in the annuitization period		146,632		137,468		242,372		8,728		584,420
Net assets		$24,262,800		$9,569,089		$19,315,740		$6,141,252		$20,651,531

Investments in securities at cost		$18,302,982		$8,136,768		$17,403,308		$6,358,016		$20,001,950
Shares outstanding		383,778		161,505		257,008		96,851		583,850

See accompanying notes to financial statements.

F-6

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Assets and Liabilities — Continued

December 31, 2025



AB Variable Products Series Fund, Inc. (continued)		AIM Variable Insurance Funds (Invesco Variable Insurance Funds)

AB VPS Sustainable Global Thematic Portfolio — Class B		Invesco V.I. American Franchise Fund — Series I shares		Invesco V.I. American Franchise Fund — Series II shares		Invesco V.I. American Value Fund — Series II shares		Invesco V.I. Comstock Fund — Series II shares		Invesco V.I. Core Equity Fund — Series I shares		Invesco V.I. Core Plus Bond Fund — Series I shares


	$1,537,310		$7,057,151		$3,515,745		$12,427,821		$46,279,304		$64,616,725		$4,669,871
	—		—		—		—		—		—		—
	6		345		37		82		—		—		—
	1,537,316		7,057,496		3,515,782		12,427,903		46,279,304		64,616,725		4,669,871


	66		309		148		523		2,051		3,049		183
	—		—		—		—		12,969		37,445		—
	66		309		148		523		15,020		40,494		183


	1,537,122		6,880,128		3,515,376		12,369,763		45,457,386		61,965,807		4,619,610
	128		177,059		258		57,617		806,898		2,610,424		50,078
	$1,537,250		$7,057,187		$3,515,634		$12,427,380		$46,264,284		$64,576,231		$4,669,688

	$1,408,609		$5,367,752		$2,479,631		$11,359,108		$42,477,212		$61,156,342		$4,644,612
	50,803		87,125		48,864		699,765		2,173,758		1,793,415		798,269



AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)

Invesco V.I. Equity and Income Fund — Series I shares		Invesco V.I. Equity and Income Fund — Series II shares		Invesco V.I. Global Fund — Series II shares		Invesco V.I. Global Real Estate Fund — Series II shares		Invesco V.I. Global Strategic Income Fund — Series I shares		Invesco V.I. Government Securities Fund — Series I shares		Invesco V.I. Main Street Fund^® — Series II shares


	$5,818,555		$22,095,524		$27,362,998		$46,129		$1,368,706		$—		$77,393,605
	—		—		—		—		—		—		—
	—		—		—		—		—		—		—
	5,818,555		22,095,524		27,362,998		46,129		1,368,706		—		77,393,605


	214		1,163		1,158		2		52		—		3,622
	5,258		1,212		22		1		873		—		37,942
	5,472		2,375		1,180		3		925		—		41,564


	5,760,040		21,326,494		27,188,875		45,798		1,324,549		—		74,431,007
	53,043		766,655		172,943		328		43,232		—		2,921,034
	$5,813,083		$22,093,149		$27,361,818		$46,126		$1,367,781		$—		$77,352,041

	$5,503,317		$20,881,458		$27,684,184		$45,928		$1,488,242		$—		$75,152,378
	318,476		1,219,400		753,802		3,343		299,498		—		3,608,093

See accompanying notes to financial statements.

F-7

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Assets and Liabilities — Continued

December 31, 2025



	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)				Advanced Series Trust		Allspring Variable Trust		BNY Mellon

	Invesco V.I. Main Street Small Cap Fund^® — Series II shares		Invesco V.I. Technology Fund — Series I shares		AST International Equity Portfolio — Class I Shares		Allspring VT Discovery All Cap Growth Fund — Class 2		BNY Mellon Investment Portfolios — MidCap Stock Portfolio — Initial Shares

Assets:
Investments at fair value (note 2b)		$22,763,515		$—		$—		$2,176,959		$123,602
Dividend receivable		—		—		—		—		—
Receivable for units sold		—		—		—		—		—
Total assets		22,763,515		—		—		2,176,959		123,602

Liabilities:
Accrued expenses payable to affiliate (note 4b)		1,041		—		—		90		5
Payable for units withdrawn		6,784		—		—		2		1
Total liabilities		7,825		—		—		92		6

Net assets attributable to:
Variable annuity contract owners in the accumulation period		22,129,126		—		—		2,176,867		123,235
Variable annuity contract owners in the annuitization period		626,564		—		—		—		361
Net assets		$22,755,690		$—		$—		$2,176,867		$123,596

Investments in securities at cost		$21,705,574		$—		$—		$2,540,259		$107,441
Shares outstanding		821,491		—		—		104,360		6,077



	Columbia Funds Variable Series Trust II (continued)		Deutsche DWS Variable Series II		Eaton Vance Variable Trust		Federated Hermes Insurance Series

	Columbia Variable Portfolio — Overseas Core Fund — Class 2		DWS Small Mid Cap Value VIP — Class B Shares		VT Floating-Rate Income Fund		Federated Hermes High Income Bond Fund II — Primary Shares		Federated Hermes High Income Bond Fund II — Service Shares

Assets:
Investments at fair value (note 2b)		$8,339,737		$143,370		$16,229,479		$3,814,185		$4,865,564
Dividend receivable		—		—		84,816		—		—
Receivable for units sold		—		—		—		—		76
Total assets		8,339,737		143,370		16,314,295		3,814,185		4,865,640

Liabilities:
Accrued expenses payable to affiliate (note 4b)		359		8		756		153		206
Payable for units withdrawn		36,366		3		6,489		13		—
Total liabilities		36,725		11		7,245		166		206

Net assets attributable to:
Variable annuity contract owners in the accumulation period		8,281,921		75,909		15,674,826		3,740,882		4,848,871
Variable annuity contract owners in the annuitization period		21,091		67,450		632,224		73,137		16,563
Net assets		$8,303,012		$143,359		$16,307,050		$3,814,019		$4,865,434

Investments in securities at cost		$6,147,947		$128,721		$16,877,814		$4,029,640		$5,146,804
Shares outstanding		471,172		10,154		1,939,006		659,894		846,185

See accompanying notes to financial statements.

F-8

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Assets and Liabilities — Continued

December 31, 2025



BNY Mellon (continued)				BlackRock Variable Series Funds, Inc.								Columbia Funds Variable Series Trust II

BNY Mellon Sustainable U.S. Equity Portfolio, Inc. — Initial Shares		BNY Mellon Variable Investment Fund — Government Money Market Portfolio		BlackRock Advantage SMID Cap V.I. Fund — Class III Shares		BlackRock Basic Value V.I. Fund — Class III Shares		BlackRock Global Allocation V.I. Fund — Class III Shares		BlackRock Large Cap Focus Growth V.I. Fund — Class III Shares		CTIVP^® — Principal Large Cap Growth Fund — Class 1


	$10,256,077		$950,573		$2,473,117		$14,134,169		$107,224,629		$9,307,092		$25,710,572
	—		3,070		—		—		—		—		—
	—		—		—		—		—		—		—
	10,256,077		953,643		2,473,117		14,134,169		107,224,629		9,307,092		25,710,572


	428		36		108		596		5,474		393		1,069
	—		—		5		1,030		9,876		1		28,087
	428		36		113		1,626		15,350		394		29,156


	10,255,649		935,414		2,467,804		14,112,717		97,903,181		9,306,698		25,593,155
	—		18,193		5,200		19,826		9,306,098		—		88,261
	$10,255,649		$953,607		$2,473,004		$14,132,543		$107,209,279		$9,306,698		$25,681,416

	$6,304,442		$950,573		$2,696,681		$14,021,095		$112,015,727		$8,029,234		$14,777,871
	175,318		950,573		239,411		1,033,200		8,037,828		445,529		315,390



Federated Hermes Insurance Series (continued)				Fidelity^® Variable Insurance Products Fund

Federated Hermes Kaufmann Fund II — Service Shares		Federated Hermes Managed Volatility Fund II — Primary Shares		VIP Asset Manager 50% Portfolio — Initial Class		VIP Asset Manager 50% Portfolio — Service Class 2		VIP Balanced Portfolio — Service Class 2		VIP Contrafund^® Portfolio — Initial Class		VIP Contrafund^® Portfolio — Service Class 2


	$22,714,024		$6,288,993		$25,890,637		$3,955,169		$52,090,915		$107,831,270		$133,093,817
	—		—		—		—		—		—		—
	—		—		—		—		208		—		—
	22,714,024		6,288,993		25,890,637		3,955,169		52,091,123		107,831,270		133,093,817


	1,031		254		865		191		2,639		4,231		5,990
	6,650		1,425		11,893		—		—		4,289		51,394
	7,681		1,679		12,758		191		2,639		8,520		57,384


	22,137,430		6,224,842		25,377,908		3,921,757		49,927,394		106,643,279		129,523,443
	568,913		62,472		499,971		33,221		2,161,090		1,179,471		3,512,990
	$22,706,343		$6,287,314		$25,877,879		$3,954,978		$52,088,484		$107,822,750		$133,036,433

	$21,481,790		$5,943,313		$22,376,429		$3,479,182		$40,132,926		$73,171,237		$105,543,717
	1,309,921		604,711		1,469,389		233,068		2,046,794		1,800,489		2,340,728

See accompanying notes to financial statements.

F-9

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Assets and Liabilities — Continued

December 31, 2025



	Fidelity^® Variable Insurance Products Fund (continued)

	VIP Dynamic Capital Appreciation Portfolio — Service Class 2		VIP Equity-Income Portfolio^SM — Initial Class		VIP Equity-Income Portfolio^SM — Service Class 2		VIP Growth & Income Portfolio — Initial Class		VIP Growth & Income Portfolio — Service Class 2

Assets:
Investments at fair value (note 2b)		$1,855,741		$62,810,286		$31,317,951		$14,191,879		$11,758,093
Dividend receivable		—		—		—		—		—
Receivable for units sold		—		—		—		—		—
Total assets		1,855,741		62,810,286		31,317,951		14,191,879		11,758,093

Liabilities:
Accrued expenses payable to affiliate (note 4b)		79		2,363		1,349		560		505
Payable for units withdrawn		1		3,806		62,257		19		5,502
Total liabilities		80		6,169		63,606		579		6,007

Net assets attributable to:
Variable annuity contract owners in the accumulation period		1,855,661		62,078,916		30,669,324		14,170,234		11,665,699
Variable annuity contract owners in the annuitization period		—		725,201		585,021		21,066		86,387
Net assets		$1,855,661		$62,804,117		$31,254,345		$14,191,300		$11,752,086

Investments in securities at cost		$1,401,207		$49,844,641		$25,711,842		$9,345,392		$8,476,420
Shares outstanding		100,473		2,134,227		1,113,329		425,544		367,555



	Fidelity^® Variable Insurance Products Fund (continued)				Franklin Templeton Variable Insurance Products Trust

	VIP Overseas Portfolio — Initial Class		VIP Value Strategies Portfolio — Service Class 2		Franklin Allocation VIP Fund — Class 2 Shares		Franklin Income VIP Fund — Class 2 Shares		Franklin Large Cap Growth VIP Fund — Class 2 Shares

Assets:
Investments at fair value (note 2b)		$9,895,680		$2,311,070		$22,984,177		$116,171,805		$112,515
Dividend receivable		—		—		—		—		—
Receivable for units sold		—		—		—		—		—
Total assets		9,895,680		2,311,070		22,984,177		116,171,805		112,515

Liabilities:
Accrued expenses payable to affiliate (note 4b)		371		99		1,216		6,126		5
Payable for units withdrawn		66		1		973		33,519		—
Total liabilities		437		100		2,189		39,645		5

Net assets attributable to:
Variable annuity contract owners in the accumulation period		9,819,419		2,304,144		19,060,333		105,466,229		112,510
Variable annuity contract owners in the annuitization period		75,824		6,826		3,921,655		10,665,931		—
Net assets		$9,895,243		$2,310,970		$22,981,988		$116,132,160		$112,510

Investments in securities at cost		$7,688,665		$2,074,903		$24,465,590		$113,621,511		$117,972
Shares outstanding		359,581		142,923		4,148,768		7,663,048		6,275

See accompanying notes to financial statements.

F-10

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Assets and Liabilities — Continued

December 31, 2025



Fidelity^® Variable Insurance Products Fund (continued)

VIP Growth Opportunities Portfolio — Initial Class		VIP Growth Opportunities Portfolio — Service Class 2		VIP Growth Portfolio — Initial Class		VIP Growth Portfolio — Service Class 2		VIP Investment Grade Bond Portfolio — Service Class 2		VIP Mid Cap Portfolio — Initial Class		VIP Mid Cap Portfolio — Service Class 2


	$16,741,942		$8,286,074		$73,215,218		$17,539,605		$44,898,944		$—		$45,212,898
	—		—		—		—		—		—		—
	—		—		—		122		—		—		—
	16,741,942		8,286,074		73,215,218		17,539,727		44,898,944		—		45,212,898


	658		352		2,672		747		2,127		—		1,902
	2,459		22		3,670		—		20,728		—		26,013
	3,117		374		6,342		747		22,855		—		27,915


	16,714,198		8,140,281		72,513,779		17,426,800		42,820,724		—		44,801,051
	24,627		145,419		695,097		112,180		2,055,365		—		383,932
	$16,738,825		$8,285,700		$73,208,876		$17,538,980		$44,876,089		$—		$45,184,983

	$8,251,939		$5,010,663		$57,104,225		$15,085,317		$46,151,857		$—		$44,377,627
	167,940		85,955		749,235		188,842		4,092,885		—		1,285,553



Franklin Templeton Variable Insurance Products Trust (continued)										Goldman Sachs Variable Insurance Trust

Franklin Mutual Shares VIP Fund — Class 2 Shares		Templeton Foreign VIP Fund — Class 1 Shares		Templeton Foreign VIP Fund — Class 2 Shares		Templeton Global Bond VIP Fund — Class 1 Shares		Templeton Growth VIP Fund — Class 2 Shares		Goldman Sachs Government Money Market Fund — Service Shares		Goldman Sachs Large Cap Value Fund — Institutional Shares


	$19,339,360		$3,143,742		$141,155		$1,732,274		$4,142,347		$111,310,146		$4,158,648
	—		—		—		—		—		335,392		—
	—		—		—		—		—		71,270		—
	19,339,360		3,143,742		141,155		1,732,274		4,142,347		111,716,808		4,158,648


	885		128		6		66		176		4,825		167
	11,633		59		1		—		552		—		—
	12,518		187		7		66		728		4,825		167


	18,764,899		3,111,627		141,148		1,666,421		4,070,068		110,797,746		4,111,974
	561,943		31,928		—		65,787		71,551		914,237		46,507
	$19,326,842		$3,143,555		$141,148		$1,732,208		$4,141,619		$111,711,983		$4,158,481

	$20,261,833		$2,693,198		$121,015		$2,027,257		$3,536,477		$111,310,146		$4,695,089
	1,201,202		189,040		8,703		123,734		292,745		111,310,146		508,392

See accompanying notes to financial statements.

F-11

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Assets and Liabilities — Continued

December 31, 2025



	Goldman Sachs Variable Insurance Trust (continued)		Janus Aspen Series

	Goldman Sachs Mid Cap Value Fund — Institutional Shares		Janus Henderson Balanced Portfolio — Institutional Shares		Janus Henderson Balanced Portfolio — Service Shares		Janus Henderson Enterprise Portfolio — Institutional Shares		Janus Henderson Enterprise Portfolio — Service Shares

Assets:
Investments at fair value (note 2b)		$24,165,384		$48,706,488		$69,819,122		$35,083,825		$4,588,906
Dividend receivable		—		—		—		—		—
Receivable for units sold		—		—		—		—		—
Total assets		24,165,384		48,706,488		69,819,122		35,083,825		4,588,906

Liabilities:
Accrued expenses payable to affiliate (note 4b)		990		1,894		3,426		1,376		193
Payable for units withdrawn		8,013		9,661		23,218		13,752		306
Total liabilities		9,003		11,555		26,644		15,128		499

Net assets attributable to:
Variable annuity contract owners in the accumulation period		23,833,135		48,224,450		66,846,679		34,765,866		4,588,407
Variable annuity contract owners in the annuitization period		323,246		470,483		2,945,799		302,831		—
Net assets		$24,156,381		$48,694,933		$69,792,478		$35,068,697		$4,588,407

Investments in securities at cost		$23,514,666		$29,927,473		$45,212,309		$25,680,310		$3,646,488
Shares outstanding		1,483,449		871,939		1,173,825		419,763		62,562



	Janus Aspen Series (continued)						Legg Mason Partners Variable Equity Trust

	Janus Henderson Overseas Portfolio — Service Shares		Janus Henderson Research Portfolio — Institutional Shares		Janus Henderson Research Portfolio — Service Shares		ClearBridge Variable Dividend Strategy Portfolio — Class I		ClearBridge Variable Dividend Strategy Portfolio — Class II

Assets:
Investments at fair value (note 2b)		$1,359,813		$41,706,849		$3,040,398		$3,898,422		$4,130,834
Dividend receivable		—		—		—		—		—
Receivable for units sold		—		—		—		—		—
Total assets		1,359,813		41,706,849		3,040,398		3,898,422		4,130,834

Liabilities:
Accrued expenses payable to affiliate (note 4b)		58		1,611		130		154		224
Payable for units withdrawn		7		1,307		91		—		2
Total liabilities		65		2,918		221		154		226

Net assets attributable to:
Variable annuity contract owners in the accumulation period		1,354,654		41,235,993		3,039,770		3,853,141		3,956,460
Variable annuity contract owners in the annuitization period		5,094		467,938		407		45,127		174,148
Net assets		$1,359,748		$41,703,931		$3,040,177		$3,898,268		$4,130,608

Investments in securities at cost		$795,867		$21,976,164		$1,615,169		$3,834,535		$4,059,872
Shares outstanding		25,647		642,633		49,647		192,515		202,294

See accompanying notes to financial statements.

F-12

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Assets and Liabilities — Continued

December 31, 2025



Janus Aspen Series (continued)

Janus Henderson Flexible Bond Portfolio — Institutional Shares		Janus Henderson Forty Portfolio — Institutional Shares		Janus Henderson Forty Portfolio — Service Shares		Janus Henderson Global Research Portfolio — Institutional Shares		Janus Henderson Global Research Portfolio — Service Shares		Janus Henderson Global Technology and Innovation Portfolio — Service Shares		Janus Henderson Overseas Portfolio — Institutional Shares


	$5,425,846		$38,285,984		$16,031,631		$34,868,137		$2,255,915		$13,624,088		$16,628,073
	—		—		—		—		—		—		—
	—		—		228		—		63		—		—
	5,425,846		38,285,984		16,031,859		34,868,137		2,255,978		13,624,088		16,628,073


	211		1,544		680		1,338		95		551		656
	1		2,430		—		4,379		—		41,386		2,797
	212		3,974		680		5,717		95		41,937		3,453


	5,385,124		37,484,649		16,005,596		33,310,153		2,255,883		13,397,429		16,502,380
	40,510		797,361		25,583		1,552,267		—		184,722		122,240
	$5,425,634		$38,282,010		$16,031,179		$34,862,420		$2,255,883		$13,582,151		$16,624,620

	$6,235,508		$26,565,537		$12,458,181		$19,813,616		$1,267,942		$7,725,077		$11,243,618
	546,410		644,328		309,073		437,657		29,520		569,093		297,887



Legg Mason Partners Variable Equity Trust (continued)				Lincoln Variable Insurance Products Trust

ClearBridge Variable Growth Portfolio — Class II		ClearBridge Variable Large Cap Value Portfolio — Class I		LVIP American Century Disciplined Core Value Fund — Standard Class II		LVIP American Century Inflation Protection Fund — Service Class		LVIP American Century International Fund — Standard Class II		LVIP American Century Ultra^® Fund — Standard Class II		LVIP American Century Value Fund — Standard Class II


	$2,273,533		$11,105,388		$31,966		$13,692,060		$195,058		$—		$59,195
	—		—		—		—		—		—		—
	—		—		—		—		—		—		—
	2,273,533		11,105,388		31,966		13,692,060		195,058		—		59,195


	100		459		2		650		9		—		2
	2		14,240		—		6,172		2		—		—
	102		14,699		2		6,822		11		—		2


	2,262,184		10,971,040		31,964		12,887,097		126,795		—		59,193
	11,247		119,649		—		798,141		68,252		—		—
	$2,273,431		$11,090,689		$31,964		$13,685,238		$195,047		$—		$59,193

	$3,309,814		$11,414,553		$26,498		$14,997,382		$174,972		$—		$48,509
	171,717		579,009		3,302		1,515,279		15,930		—		4,582

See accompanying notes to financial statements.

F-13

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Assets and Liabilities — Continued

December 31, 2025



	Lincoln Variable Insurance Products Trust (continued)								MFS^® Variable Insurance Trust

	LVIP JPMorgan Core Bond Fund — Standard Class		LVIP JPMorgan Mid Cap Value Fund — Standard Class		LVIP JPMorgan Small Cap Core Fund — Standard Class		LVIP JPMorgan U.S. Equity Fund — Standard Class		MFS^® Investors Trust Series — Service Class Shares

Assets:
Investments at fair value (note 2b)		$720,588		$167,078		$12,846		$841,474		$3,289,570
Dividend receivable		—		—		—		—		—
Receivable for units sold		—		—		—		—		19
Total assets		720,588		167,078		12,846		841,474		3,289,589

Liabilities:
Accrued expenses payable to affiliate (note 4b)		38		8		—		42		139
Payable for units withdrawn		1		2		—		1		—
Total liabilities		39		10		—		43		139

Net assets attributable to:
Variable annuity contract owners in the accumulation period		448,754		99,507		12,494		503,579		3,258,803
Variable annuity contract owners in the annuitization period		271,795		67,561		352		337,852		30,647
Net assets		$720,549		$167,068		$12,846		$841,431		$3,289,450

Investments in securities at cost		$750,155		$181,984		$12,032		$737,995		$3,311,137
Shares outstanding		72,377		18,540		585		17,045		128,650



	PIMCO Variable Insurance Trust (continued)								Rydex Variable Trust

	International Bond Portfolio (U.S. Dollar Hedged) — Administrative Class Shares		Long-Term U.S. Government Portfolio — Administrative Class Shares		Low Duration Portfolio — Administrative Class Shares		Total Return Portfolio — Administrative Class Shares		NASDAQ — 100^® Fund

Assets:
Investments at fair value (note 2b)		$977,031		$23,175,668		$22,381,192		$85,260,651		$9,881,535
Dividend receivable		2,835		69,089		78,150		305,930		—
Receivable for units sold		173		—		—		—		—
Total assets		980,039		23,244,757		22,459,342		85,566,581		9,881,535

Liabilities:
Accrued expenses payable to affiliate (note 4b)		41		1,109		1,035		3,849		418
Payable for units withdrawn		—		9,569		6,774		76,100		25
Total liabilities		41		10,678		7,809		79,949		443

Net assets attributable to:
Variable annuity contract owners in the accumulation period		963,619		22,053,783		21,516,023		82,951,453		9,881,092
Variable annuity contract owners in the annuitization period		16,379		1,180,296		935,510		2,535,179		—
Net assets		$979,998		$23,234,079		$22,451,533		$85,486,632		$9,881,092

Investments in securities at cost		$1,013,460		$27,833,102		$22,670,810		$89,805,787		$5,245,262
Shares outstanding		97,314		3,098,351		2,288,465		9,022,291		102,156

See accompanying notes to financial statements.

F-14

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Assets and Liabilities — Continued

December 31, 2025



MFS^® Variable Insurance Trust (continued)						MFS^® Variable Insurance Trust II				PIMCO Variable Insurance Trust

MFS^® New Discovery Series — Service Class Shares		MFS^® Total Return Series — Service Class Shares		MFS^® Utilities Series — Service Class Shares		MFS^® Income Portfolio — Service Class Shares		MFS^® Massachusetts Investors Growth Stock Portfolio — Service Class Shares		All Asset Portfolio — Advisor Class Shares		High Yield Portfolio — Administrative Class Shares


	$7,592,195		$23,061,764		$8,860,885		$11,924		$4,208,326		$2,917,569		$23,275,436
	—		—		—		—		—		—		121,898
	348		—		239		—		353		—		—
	7,592,543		23,061,764		8,861,124		11,924		4,208,679		2,917,569		23,397,334


	322		1,220		384		—		178		129		1,058
	—		316		—		—		—		266		16,289
	322		1,536		384		—		178		395		17,347


	7,545,222		22,128,673		8,845,452		11,924		4,182,364		2,917,174		22,674,567
	46,999		931,555		15,288		—		26,137		—		705,420
	$7,592,221		$23,060,228		$8,860,740		$11,924		$4,208,501		$2,917,174		$23,379,987

	$9,018,176		$22,935,909		$7,353,790		$13,124		$3,872,396		$3,032,747		$23,122,624
	627,454		1,018,629		240,654		1,409		192,425		298,931		3,141,084



State Street Variable Insurance Series Funds, Inc.

Income V.I.S. Fund — Class 1 Shares		Premier Growth Equity V.I.S. Fund — Class 1 Shares		Real Estate Securities V.I.S. Fund — Class 1 Shares		S&P 500^® Index V.I.S. Fund — Class 1 Shares		Small-Cap Equity V.I.S. Fund — Class 1 Shares		Total Return V.I.S. Fund — Class 1 Shares		Total Return V.I.S. Fund — Class 3 Shares


	$6,673,392		$27,074,036		$14,597,427		$156,625,220		$18,158,123		$627,990,960		$246,723,483
	—		—		—		—		—		—		—
	291		120		—		—		—		—		—
	6,673,683		27,074,156		14,597,427		156,625,220		18,158,123		627,990,960		246,723,483


	272		1,133		593		6,400		772		28,015		12,881
	—		—		207		24,034		11,699		223,216		81,783
	272		1,133		800		30,434		12,471		251,231		94,664


	6,492,644		26,713,424		14,559,958		155,502,296		17,971,721		137,755,428		179,389,082
	180,767		359,599		36,669		1,092,490		173,931		489,984,301		67,239,737
	$6,673,411		$27,073,023		$14,596,627		$156,594,786		$18,145,652		$627,739,729		$246,628,819

	$7,562,575		$24,255,778		$16,313,330		$115,128,551		$21,342,467		$607,840,438		$236,256,163
	683,749		235,631		1,387,588		2,643,910		1,637,342		37,027,769		14,547,375

See accompanying notes to financial statements.

F-15

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Operations



	AB Variable Products Series Fund, Inc.

	AB VPS Balanced Hedged Allocation Portfolio — Class B			AB VPS International Value Portfolio — Class B		AB VPS Large Cap Growth Portfolio — Class B			AB VPS Relative Value Portfolio — Class B			AB VPS Small Cap Growth Portfolio — Class B

	Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025

Investment income and expense:
Income — Ordinary dividends		$99,365			$353,024		$—			$214,406			$—
Mortality and expense risk and administrative charges (note 4a)		101,381			170,861		184,987			382,101			41,844
Net investment income (expense)		(2,016	)		182,163		(184,987	)		(167,695	)		(41,844	)

Net realized and unrealized gain (loss) on investments:
Net realized gain (loss)		(60,357	)		360,028		783,726			693,525			(373,521	)
Change in unrealized appreciation (depreciation)		544,347			2,592,818		(509,548	)		(526,924	)		460,476
Capital gain distributions		275,403			—		1,107,027			2,002,121			—
Net realized and unrealized gain (loss) on investments		759,393			2,952,846		1,381,205			2,168,722			86,955

Increase (decrease) in net assets from operations		$757,377			$3,135,009		$1,196,218			$2,001,027			$45,111



	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)

	Invesco V.I. Discovery Large Cap Fund — Series I shares			Invesco V.I. Discovery Large Cap Fund — Series II Shares			Invesco V.I. Discovery Mid Cap Growth Fund — Series I shares			Invesco V.I. Discovery Mid Cap Growth Fund — Series II shares			Invesco V.I. EQV International Equity Fund — Series II shares

	Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025

Investment income and expense:
Income — Ordinary dividends		$—			$—			$—			$—			$240,995
Mortality and expense risk and administrative charges (note 4a)		340,045			153,204			262,657			100,506			349,314
Net investment income (expense)		(340,045	)		(153,204	)		(262,657	)		(100,506	)		(108,319	)

Net realized and unrealized gain (loss) on investments:
Net realized gain (loss)		1,463,495			504,009			251,314			12,143			157,891
Change in unrealized appreciation (depreciation)		(1,421,481	)		(520,425	)		(1,060,052	)		(351,168	)		1,480,946
Capital gain distributions		2,868,473			1,210,587			1,646,423			612,168			1,315,072
Net realized and unrealized gain (loss) on investments		2,910,487			1,194,171			837,685			273,143			2,953,909

Increase (decrease) in net assets from operations		$2,570,442			$1,040,967			$575,028			$172,637			$2,845,590

See accompanying notes to financial statements.

F-18

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Operations — Continued



AB Variable Products Series Fund, Inc. (continued)			AIM Variable Insurance Funds (Invesco Variable Insurance Funds)

AB VPS Sustainable Global Thematic Portfolio — Class B			Invesco V.I. American Franchise Fund — Series I shares			Invesco V.I. American Franchise Fund — Series II shares			Invesco V.I. American Value Fund — Series II shares			Invesco V.I. Comstock Fund — Series II shares			Invesco V.I. Core Equity Fund — Series I shares			Invesco V.I. Core Plus Bond Fund — Series I shares

Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025


	$—			$—			$—			$24,783			$647,678			$409,934			$206,100
	24,748			114,538			54,095			170,819			697,789			1,041,191			68,844
	(24,748	)		(114,538	)		(54,095	)		(146,036	)		(50,111	)		(631,257	)		137,256


	36,909			623,149			185,473			122,951			930,261			708,879			(1,425	)
	(158,554	)		(447,241	)		(166,372	)		242,431			579,279			3,373,976			129,237
	206,883			656,219			360,067			1,780,622			4,799,725			4,719,136			—
	85,238			832,127			379,168			2,146,004			6,309,265			8,801,991			127,812

	$60,490			$717,589			$325,073			$1,999,968			$6,259,154			$8,170,734			$265,068



AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)

Invesco V.I. Equity and Income Fund — Series I shares		Invesco V.I. Equity and Income Fund — Series II shares			Invesco V.I. Global Fund — Series II shares			Invesco V.I. Global Real Estate Fund — Series II shares			Invesco V.I. Global Strategic Income Fund — Series I shares			Invesco V.I. Government Securities Fund — Series I shares		Invesco V.I. Main Street Fund^® — Series II shares

Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025


	$118,935		$413,109			$—			$819			$79,030			$—		$240,048
	77,458		434,932			420,556			2,174			19,340			—		1,337,989
	41,477		(21,823	)		(420,556	)		(1,355	)		59,690			—		(1,097,941	)


	49,497		267,607			345,105			8,173			(32,098	)		—		45,624
	235,115		819,248			(1,684,197	)		1,931			122,639			—		6,648,546
	302,123		1,185,251			5,121,732			—			—			—		4,816,659
	586,735		2,272,106			3,782,640			10,104			90,541			—		11,510,829

	$628,212		$2,250,283			$3,362,084			$8,749			$150,231			$—		$10,412,888

See accompanying notes to financial statements.

F-19

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Operations — Continued



	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)					Advanced Series Trust		Allspring Variable Trust			BNY Mellon

	Invesco V.I. Main Street Small Cap Fund^® — Series II shares			Invesco V.I. Technology Fund — Series I shares		AST International Equity Portfolio — Class I Shares		Allspring VT Discovery All Cap Growth Fund — Class 2			BNY Mellon Investment Portfolios— MidCap Stock Portfolio — Initial Shares

	Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025

Investment income and expense:
Income — Ordinary dividends		$54,944			$—		$—		$—			$1,731
Mortality and expense risk and administrative charges (note 4a)		395,813			—		—		33,445			3,255
Net investment income (expense)		(340,869	)		—		—		(33,445	)		(1,524	)

Net realized and unrealized gain (loss) on investments:
Net realized gain (loss)		473,418			—		—		(24,316	)		7,642
Change in unrealized appreciation (depreciation)		(932,171	)		—		—		(435,002	)		(11,669	)
Capital gain distributions		2,443,036			—		—		798,197			22,497
Net realized and unrealized gain (loss) on investments		1,984,283			—		—		338,879			18,470

Increase (decrease) in net assets from operations		$1,643,414			$—		$—		$305,434			$16,946



	Columbia Funds Variable Series Trust II (continued)		Deutsche DWS Variable Series II			Eaton Vance Variable Trust			Federated Hermes Insurance Series

	Columbia Variable Portfolio— Overseas Core Fund — Class 2		DWS Small Mid Cap Value VIP — Class B Shares			VT Floating- Rate Income Fund			Federated Hermes High Income Bond Fund II — Primary Shares			Federated Hermes High Income Bond Fund II — Service Shares

	Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025

Investment income and expense:
Income—Ordinary dividends		$142,851		$62			$1,134,328			$248,812			$299,765
Mortality and expense risk and administrative charges (note 4a)		125,883		1,351			285,429			59,402			77,422
Net investment income (expense)		16,968		(1,289	)		848,899			189,410			222,343

Net realized and unrealized gain (loss) on investments:
Net realized gain (loss)		322,108		1,446			(145,407	)		(78,688	)		(88,612	)
Change in unrealized appreciation (depreciation)		2,089,427		13,973			(347,551	)		151,509			183,704
Capital gain distributions		—		1,228			—			—			—
Net realized and unrealized gain (loss) on investments		2,411,535		16,647			(492,958	)		72,821			95,092

Increase (decrease) in net assets from operations		$2,428,503		$15,358			$355,941			$262,231			$317,435

See accompanying notes to financial statements.

F-20

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Operations — Continued



BNY Mellon (continued)					BlackRock Variable Series Funds, Inc.											Columbia Funds Variable Series Trust II

BNY Mellon Sustainable U.S. Equity Portfolio, Inc. — Initial Shares			BNY Mellon Variable Investment Fund — Government Money Market Portfolio		BlackRock Advantage SMID Cap V.I. Fund — Class III Shares			BlackRock Basic Value V.I. Fund — Class III Shares		BlackRock Global Allocation V.I. Fund — Class III Shares			BlackRock Large Cap Focus Growth V.I. Fund — Class III Shares			CTIVP^® — Principal Large Cap Growth Fund — Class 1

Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025


	$26,039			$41,640		$37,469			$243,484		$4,248,300			$—			$—
	156,325			16,441		75,451			198,880		2,000,732			141,816			397,726
	(130,286	)		25,199		(37,982	)		44,604		2,247,568			(141,816	)		(397,726	)


	472,062			—		400,019			41,239		(289,709	)		269,645			2,278,807
	228,204			—		(734,109	)		865,355		4,841,262			(797,377	)		1,155,297
	832,043			—		336,770			1,677,993		10,432,733			1,550,825			—
	1,532,309			—		2,680			2,584,587		14,984,286			1,023,093			3,434,104

	$1,402,023			$25,199		$(35,302	)		$2,629,191		$17,231,854			$881,277			$3,036,378



Federated Hermes Insurance Series (continued)					Fidelity^® Variable Insurance Products Fund

Federated Hermes Kaufmann Fund II — Service Shares			Federated Hermes Managed Volatility Fund II — Primary Shares		VIP Asset Manager 50% Portfolio — Initial Class		VIP Asset Manager 50% Portfolio — Service Class 2		VIP Balanced Portfolio — Service Class 2			VIP Contrafund^® Portfolio — Initial Class			VIP Contrafund^® Portfolio — Service Class 2

Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025		Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025


	$—			$185,910		$625,027		$91,298		$787,725			$142,312			$—
	383,753			92,540		316,536		72,825		946,846			1,486,855			2,157,011
	(383,753	)		93,370		308,491		18,473		(159,121	)		(1,344,543	)		(2,157,011	)


	83,361			19,830		454,518		60,251		1,913,200			6,940,109			8,429,841
	(253,583	)		109,119		1,329,706		174,085		1,647,578			(3,146,155	)		(4,159,119	)
	2,739,722			113,417		1,223,236		212,913		2,723,595			16,499,282			21,463,369
	2,569,500			242,366		3,007,460		447,249		6,284,373			20,293,236			25,734,091

	$2,185,747			$335,736		$3,315,951		$465,722		$6,125,252			$18,948,693			$23,577,080

See accompanying notes to financial statements.

F-21

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Operations — Continued



	Fidelity^® Variable Insurance Products Fund (continued)

	VIP Dynamic Capital Appreciation Portfolio — Service Class 2			VIP Equity- Income Portfolio^SM — Initial Class		VIP Equity- Income Portfolio^SM — Service Class 2		VIP Growth & Income Portfolio — Initial Class		VIP Growth & Income Portfolio — Service Class 2

	Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025		Year ended December 31, 2025		Year ended December 31, 2025

Investment income and expense:
Income — Ordinary dividends		$7,243			$1,071,574		$490,520		$207,195		$165,132
Mortality and expense risk and administrative charges (note 4a)		26,471			834,109		480,476		199,046		197,367
Net investment income (expense)		(19,228	)		237,465		10,044		8,149		(32,235	)

Net realized and unrealized gain (loss) on investments:
Net realized gain (loss)		24,592			1,881,155		1,062,325		1,200,791		1,177,170
Change in unrealized appreciation (depreciation)		(71,692	)		4,339,391		1,952,086		4,245		(139,293	)
Capital gain distributions		327,171			3,340,955		1,749,761		1,267,009		1,202,699
Net realized and unrealized gain (loss) on investments		280,071			9,561,501		4,764,172		2,472,045		2,240,576

Increase (decrease) in net assets from operations		$260,843			$9,798,966		$4,774,216		$2,480,194		$2,208,341



	Fidelity^® Variable Insurance Products Fund (continued)					Franklin Templeton Variable Insurance Products Trust

	VIP Overseas Portfolio — Initial Class		VIP Value Strategies Portfolio — Service Class 2			Franklin Allocation VIP Fund — Class 2 Shares			Franklin Income VIP Fund — Class 2 Shares			Franklin Large Cap Growth VIP Fund — Class 2 Shares

	Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025

Investment income and expense:
Income — Ordinary dividends		$154,486		$19,737			$469,840			$6,105,382			$—
Mortality and expense risk and administrative charges (note 4a)		133,105		37,712			463,622			2,298,611			1,848
Net investment income (expense)		21,381		(17,975	)		6,218			3,806,771			(1,848	)

Net realized and unrealized gain (loss) on investments:
Net realized gain (loss)		351,186		49,599			(706,975	)		(558,376	)		5,711
Change in unrealized appreciation (depreciation)		402,869		25,405			2,092,236			7,246,202			(19,452	)
Capital gain distributions		859,786		98,949			991,836			1,283,327			21,454
Net realized and unrealized gain (loss) on investments		1,613,841		173,953			2,377,097			7,971,153			7,713

Increase (decrease) in net assets from operations		$1,635,222		$155,978			$2,383,315			$11,777,924			$5,865

See accompanying notes to financial statements.

F-22

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Operations — Continued



Fidelity^® Variable Insurance Products Fund (continued)

VIP Growth Opportunities Portfolio — Initial Class			VIP Growth Opportunities Portfolio — Service Class 2			VIP Growth Portfolio — Initial Class			VIP Growth Portfolio — Service Class 2			VIP Investment Grade Bond Portfolio — Service Class 2			VIP Mid Cap Portfolio — Initial Class		VIP Mid Cap Portfolio — Service Class 2

Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025


	$—			$—			$203,182			$8,371			$1,556,045			$—		$106,588
	225,177			125,261			940,790			274,822			797,284			—		835,942
	(225,177	)		(125,261	)		(737,608	)		(266,451	)		758,761			—		(729,354	)


	1,205,568			792,984			2,576,335			724,513			(611,124	)		—		(1,023,326	)
	1,725,902			730,730			(1,889,169	)		(639,328	)		2,217,815			—		217,234
	250,798			120,083			9,049,702			2,277,241			—			—		6,153,200
	3,182,268			1,643,797			9,736,868			2,362,426			1,606,691			—		5,347,108

	$2,957,091			$1,518,536			$8,999,260			$2,095,975			$2,365,452			$—		$4,617,754



Franklin Templeton Variable Insurance Products Trust (continued)													Goldman Sachs Variable Insurance Trust

Franklin Mutual Shares VIP Fund — Class 2 Shares			Templeton Foreign VIP Fund — Class 1 Shares		Templeton Foreign VIP Fund — Class 2 Shares		Templeton Global Bond VIP Fund — Class 1 Shares			Templeton Growth VIP Fund — Class 2 Shares			Goldman Sachs Government Money Market Fund — Service Shares		Goldman Sachs Large Cap Value Fund — Institutional Shares

Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025


	$398,704			$80,533		$3,136		$—			$35,188			$4,487,769		$45,201
	329,523			45,934		2,149		24,685			61,688			1,831,772		61,347
	69,181			34,599		987		(24,685	)		(26,500	)		2,655,997		(16,146	)


	(137,509	)		66,215		4,889		(68,351	)		94,839			—		(61,247	)
	11,834			453,697		20,881		332,770			431,879			—		(112,571	)
	1,964,423			202,588		8,757		—			302,095			—		562,262
	1,838,748			722,500		34,527		264,419			828,813			—		388,444

	$1,907,929			$757,099		$35,514		$239,734			$802,313			$2,655,997		$372,298

See accompanying notes to financial statements.

F-23

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Operations — Continued



	Goldman Sachs Variable Insurance Trust (continued)			Janus Aspen Series

	Goldman Sachs Mid Cap Value Fund — Institutional Shares			Janus Henderson Balanced Portfolio — Institutional Shares		Janus Henderson Balanced Portfolio — Service Shares			Janus Henderson Enterprise Portfolio — Institutional Shares			Janus Henderson Enterprise Portfolio — Service Shares

	Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025

Investment income and expense:
Income — Ordinary dividends		$279,477			$968,084		$1,177,778			$113,293			$8,156
Mortality and expense risk and administrative charges (note 4a)		357,451			682,097		1,251,165			506,668			69,863
Net investment income (expense)		(77,974	)		285,987		(73,387	)		(393,375	)		(61,707	)

Net realized and unrealized gain (loss) on investments:
Net realized gain (loss)		269,516			2,888,498		4,997,531			1,483,743			86,629
Change in unrealized appreciation (depreciation)		(975,790	)		1,360,388		1,247,532			(1,662,200	)		(155,521	)
Capital gain distributions		2,533,848			1,576,006		2,191,462			2,690,260			388,417
Net realized and unrealized gain (loss) on investments		1,827,574			5,824,892		8,436,525			2,511,803			319,525

Increase (decrease) in net assets from operations		$1,749,600			$6,110,879		$8,363,138			$2,118,428			$257,818



	Janus Aspen Series (continued)									Legg Mason Partners Variable Equity Trust

	Janus Henderson Overseas Portfolio — Service Shares			Janus Henderson Research Portfolio — Institutional Shares			Janus Henderson Research Portfolio — Service Shares			ClearBridge Variable Dividend Strategy Portfolio — Class I			ClearBridge Variable Dividend Strategy Portfolio — Class II

	Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025

Investment income and expense:
Income — Ordinary dividends		$16,841			$50,076			$3,893			$82,396			$78,556
Mortality and expense risk and administrative charges (note 4a)		20,070			570,699			47,078			54,412			80,894
Net investment income (expense)		(3,229	)		(520,623	)		(43,185	)		27,984			(2,338	)

Net realized and unrealized gain (loss) on investments:
Net realized gain (loss)		116,429			3,635,620			248,620			34,125			312,992
Change in unrealized appreciation (depreciation)		200,855			153,403			(21,135	)		(183,278	)		(442,086	)
Capital gain distributions		—			3,079,481			239,405			521,542			559,830
Net realized and unrealized gain (loss) on investments		317,284			6,868,504			466,890			372,389			430,736

Increase (decrease) in net assets from operations		$314,055			$6,347,881			$423,705			$400,373			$428,398

See accompanying notes to financial statements.

F-24

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Operations — Continued



Janus Aspen Series (continued)

Janus Henderson Flexible Bond Portfolio — Institutional Shares			Janus Henderson Forty Portfolio — Institutional Shares			Janus Henderson Forty Portfolio — Service Shares			Janus Henderson Global Research Portfolio — Institutional Shares			Janus Henderson Global Research Portfolio — Service Shares			Janus Henderson Global Technology and Innovation Portfolio — Service Shares			Janus Henderson Overseas Portfolio — Institutional Shares

Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025


	$303,797			$110,719			$42,083			$251,961			$14,265			$—			$222,648
	85,300			537,009			246,308			478,181			36,698			187,749			221,716
	218,497			(426,290	)		(204,225	)		(226,220	)		(22,433	)		(187,749	)		932


	(236,943	)		1,700,524			698,776			2,318,201			262,421			813,823			540,316
	351,896			(894	)		(250,456	)		1,011,702			(46,107	)		892,819			3,151,092
	—			4,316,030			2,158,205			2,916,318			220,572			1,185,174			—
	114,953			6,015,660			2,606,525			6,246,221			436,886			2,891,816			3,691,408

	$333,450			$5,589,370			$2,402,300			$6,020,001			$414,453			$2,704,067			$3,692,340



Legg Mason Partners Variable Equity Trust (continued)						Lincoln Variable Insurance Products Trust

ClearBridge Variable Growth Portfolio — Class II			ClearBridge Variable Large Cap Value Portfolio — Class I			LVIP American Century Disciplined Core Value Fund — Standard Class II			LVIP American Century Inflation Protection Fund — Service Class			LVIP American Century International Fund — Standard Class II			LVIP American Century Ultra^® Fund — Standard Class II			LVIP American Century Value Fund — Standard Class II

Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025


	$—			$123,175			$511			$991,086			$2,306			$—			$913
	37,039			171,334			665			243,836			3,761			110			848
	(37,039	)		(48,159	)		(154	)		747,250			(1,455	)		(110	)		65


	(138,526	)		42,264			1,728			(227,853	)		6,035			7,183			3,086
	54,250			(162,918	)		2,468			124,935			23,791			(9,125	)		469
	369,221			1,110,490			—			—			—			—			4,316
	284,945			989,836			4,196			(102,918	)		29,826			(1,942	)		7,871

	$247,906			$941,677			$4,042			$644,332			$28,371			$(2,052	)		$7,936

See accompanying notes to financial statements.

F-25

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Operations — Continued



	Lincoln Variable Insurance Products Trust (continued)												MFS^® Variable Insurance Trust

	LVIP JPMorgan Core Bond Fund — Standard Class			LVIP JPMorgan Mid Cap Value Fund — Standard Class			LVIP JPMorgan Small Cap Core Fund — Standard Class			LVIP JPMorgan U.S. Equity Fund — Standard Class			MFS^® Investors Trust Series — Service Class Shares

	Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025

Investment income and expense:
Income — Ordinary dividends		$25,330			$1,864			$78			$3,680			$19,965
Mortality and expense risk and administrative charges (note 4a)		13,810			3,326			1,695			9,898			52,162
Net investment income (expense)		11,520			(1,462	)		(1,617	)		(6,218	)		(32,197	)

Net realized and unrealized gain (loss) on investments:
Net realized gain (loss)		(12,704	)		(351	)		8,079			14,012			128,483
Change in unrealized appreciation (depreciation)		42,103			(11,260	)		(5,820	)		26,402			(1,142,847	)
Capital gain distributions		—			18,095			991			23,306			1,412,231
Net realized and unrealized gain (loss) on investments		29,399			6,484			3,250			63,720			397,867

Increase (decrease) in net assets from operations		$40,919			$5,022			$1,633			$57,502			$365,670



	PIMCO Variable Insurance Trust (continued)												Rydex Variable Trust

	International Bond Portfolio (U.S. Dollar Hedged) — Administrative Class Shares			Long-Term U.S. Government Portfolio — Administrative Class Shares			Low Duration Portfolio — Administrative Class Shares			Total Return Portfolio — Administrative Class Shares			NASDAQ — 100^® Fund

	Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025

Investment income and expense:
Income — Ordinary dividends		$34,000			$754,489			$998,638			$3,686,680			$2,937
Mortality and expense risk and administrative charges (note 4a)		14,943			397,703			425,856			1,476,865			144,745
Net investment income (expense)		19,057			356,786			572,782			2,209,815			(141,808	)

Net realized and unrealized gain (loss) on investments:
Net realized gain (loss)		(2,760	)		(2,281,237	)		(273,370	)		(2,199,966	)		682,563
Change in unrealized appreciation (depreciation)		6,571			3,108,196			646,485			6,245,403			433,290
Capital gain distributions		—			—			—			—			534,078
Net realized and unrealized gain (loss) on investments		3,811			826,959			373,115			4,045,437			1,649,931

Increase (decrease) in net assets from operations		$22,868			$1,183,745			$945,897			$6,255,252			$1,508,123

See accompanying notes to financial statements.

F-26

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Operations — Continued



MFS^® Variable Insurance Trust (continued)							MFS^® Variable Insurance Trust II						PIMCO Variable Insurance Trust

MFS^® New Discovery Series — Service Class Shares			MFS^® Total Return Series — Service Class Shares		MFS^® Utilities Series — Service Class Shares		MFS^® Income Portfolio — Service Class Shares			MFS^® Massachusetts Investors Growth Stock Portfolio — Service Class Shares			All Asset Portfolio — Advisor Class Shares			High Yield Portfolio — Administrative Class Shares

Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025		Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025


	$—			$583,948		$238,137		$482			$769			$136,062			$1,522,117
	116,714			448,447		139,565		166			72,517			47,493			400,615
	(116,714	)		135,501		98,572		316			(71,748	)		88,569			1,121,502


	(482,501	)		113,272		267,823		(79	)		199,350			(72,121	)		(24,285	)
	1,374,203			33,722		570,831		375			(445,383	)		338,535			575,240
	—			1,718,007		118,760		—			666,573			—			—
	891,702			1,865,001		957,414		296			420,540			266,414			550,955

	$774,988			$2,000,502		$1,055,986		$612			$348,792			$354,983			$1,672,457



State Street Variable Insurance Series Funds, Inc.

Income V.I.S. Fund — Class 1 Shares			Premier Growth Equity V.I.S. Fund — Class 1 Shares			Real Estate Securities V.I.S. Fund — Class 1 Shares			S&P 500^® Index V.I.S. Fund — Class 1 Shares			Small-Cap Equity V.I.S. Fund — Class 1 Shares			Total Return V.I.S. Fund — Class 1 Shares		Total Return V.I.S. Fund — Class 3 Shares

Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025			Year ended December 31, 2025		Year ended December 31, 2025


	$248,221			$—			$162,460			$1,438,680			$—			$15,046,974		$5,284,335
	107,862			400,503			228,668			2,260,526			291,323			9,944,520		4,721,979
	140,359			(400,503	)		(66,208	)		(821,846	)		(291,323	)		5,102,454		562,356


	(283,326	)		1,047,970			(294,275	)		7,987,293			(291,547	)		2,641,192		1,551,625
	454,929			(1,054,112	)		241,706			4,613,537			(1,924,080	)		46,492,291		18,655,999
	—			4,795,023			191,749			10,689,019			2,109,845			26,211,642		10,308,070
	171,603			4,788,881			139,180			23,289,849			(105,782	)		75,345,125		30,515,694

	$311,962			$4,388,378			$72,972			$22,468,003			$(397,105	)		$80,447,579		$31,078,050

See accompanying notes to financial statements.

F-27

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets



	AB Variable Products Series Fund, Inc.

	AB VPS Balanced Hedged Allocation Portfolio —Class B						AB VPS International Value Portfolio — Class B						AB VPS Large Cap Growth Portfolio — Class B

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(2,016	)		$(5,654	)		$182,163			$(107,802	)		$(184,987	)		$(202,169	)
Net realized gain (los s) on investments		(60,357	)		(292,097	)		360,028			897,657			783,726			844,925
Change in unrealized appreciation (depreciation) on investments		544,347			572,733			2,592,818			239,969			(509,548	)		1,442,368
Capital gain distributions		275,403			120,169			—			—			1,107,027			570,260
Increase (decrease) in net assets from operations		757,377			395,151			3,135,009			1,029,824			1,196,218			2,655,384

From capital transactions (note 4):
Net premiums		1,152			61,370			127,250			30,282			3			473
Transfers for contract benefits and terminations		(687,785	)		(1,111,300	)		(1,084,896	)		(1,496,989	)		(1,157,530	)		(1,810,565	)
Administrative expenses		(46,775	)		(53,747	)		(69,788	)		(113,878	)		(24,962	)		(29,139	)
Transfers between subaccounts (including fixed account), net		(262,488	)		(90,043	)		10,136,620			(14,374,196	)		(787,327	)		(501,532	)
Increase (decrease) in net assets from capital transactions		(995,896	)		(1,193,720	)		9,109,186			(15,954,781	)		(1,969,816	)		(2,340,763	)
Increase (decrease) in net assets		(238,519	)		(798,569	)		12,244,195			(14,924,957	)		(773,598	)		314,621
Net assets at beginning of year		5,545,806			6,344,375			4,617,004			19,541,961			12,610,063			12,295,442
Net assets at end of year		$5,307,287			$5,545,806			$16,861,199			$4,617,004			$11,836,465			$12,610,063

Change in units (note 5):
Units purchased		9,042			79,041			800,907			162,576			11,865			7,686
Units redeemed		(68,178	)		(142,996	)		(204,243	)		(2,162,805	)		(59,200	)		(66,351	)
Net increase (decrease) in units from capital transactions with contract owners		(59,136	)		(63,955	)		596,664			(2,000,229	)		(47,335	)		(58,665	)

See accompanying notes to financial statements.

F-30

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



AB Variable Products Series Fund, Inc. (continued)																		AIM Variable Insurance Funds (Invesco Variable Insurance Funds)

AB VPS Relative Value Portfolio — Class B						AB VPS Small Cap Growth Portfolio — Class B						AB VPS Sustainable Global Thematic Portfolio — Class B						Invesco V.I. American Franchise Fund — Series I shares						Invesco V.I. American Franchise Fund — Series II shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$(167,695	)		$(81,683	)		$(41,844	)		$(53,138	)		$(24,748	)		$(27,694	)		$(114,538	)		$(121,604	)		$(54,095	)		$(54,018	)
	693,525			707,118			(373,521	)		(633,497	)		36,909			40,836			623,149			241,264			185,473			131,594
	(526,924	)		1,313,116			460,476			1,214,979			(158,554	)		59,896			(447,241	)		2,080,966			(166,372	)		902,054
	2,002,121			976,624			—			—			206,883			5,273			656,219			—			360,067			—
	2,001,027			2,915,175			45,111			528,344			60,490			78,311			717,589			2,200,626			325,073			979,630


	121,875			17,821			600			11,972			—			—			28,736			4,977			—			—
	(3,331,442	)		(3,500,808	)		(756,909	)		(813,790	)		(92,685	)		(148,615	)		(1,344,664	)		(1,075,532	)		(306,237	)		(352,564	)
	(50,133	)		(58,007	)		(12,365	)		(15,934	)		(8,461	)		(9,134	)		(22,887	)		(23,498	)		(13,808	)		(13,771	)
	(236,861	)		(396,619	)		(158,421	)		(106,783	)		(102,412	)		(46,990	)		(412,121	)		(189,328	)		(173,546	)		(137,337	)
	(3,496,561	)		(3,937,613	)		(927,095	)		(924,535	)		(203,558	)		(204,739	)		(1,750,936	)		(1,283,381	)		(493,591	)		(503,672	)
	(1,495,534	)		(1,022,438	)		(881,984	)		(396,191	)		(143,068	)		(126,428	)		(1,033,347	)		917,245			(168,518	)		475,958
	26,165,509			27,187,947			3,271,912			3,668,103			1,680,318			1,806,746			8,090,534			7,173,289			3,684,152			3,208,194
	$24,669,975			$26,165,509			$2,389,928			$3,271,912			$1,537,250			$1,680,318			$7,057,187			$8,090,534			$3,515,634			$3,684,152


	36,470			17,847			6,033			6,856			1,288			875			8,182			1,668			489			187
	(125,016	)		(120,117	)		(30,850	)		(32,910	)		(7,163	)		(7,107	)		(45,479	)		(33,491	)		(9,034	)		(10,006	)
	(88,546	)		(102,270	)		(24,817	)		(26,054	)		(5,875	)		(6,232	)		(37,297	)		(31,823	)		(8,545	)		(9,819	)

See accompanying notes to financial statements.

F-31

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)

Invesco V.I. Core Plus Bond Fund — Series I shares						Invesco V.I. Discovery Large Cap Fund — Series I shares						Invesco V.I. Discovery Large Cap Fund — Series II Shares						Invesco V.I. Discovery Mid Cap Growth Fund — Series I shares						Invesco V.I. Discovery Mid Cap Growth Fund — Series II shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$137,256			$117,250			$(340,045	)		$(355,634	)		$(153,204	)		$(151,677	)		$(262,657	)		$(270,946	)		$(100,506	)		$(104,921	)
	(1,425	)		(7,009	)		1,463,495			861,079			504,009			101,070			251,314			156,984			12,143			(150,967	)
	129,237			(25,721	)		(1,421,481	)		6,448,621			(520,425	)		2,707,179			(1,060,052	)		4,120,083			(351,168	)		1,606,154
	—			—			2,868,473			—			1,210,587			—			1,646,423			—			612,168			—
	265,068			84,520			2,570,442			6,954,066			1,040,967			2,656,572			575,028			4,006,121			172,637			1,350,266


	33,758			10,592			22,859			68,062			16,966			13,930			8,543			91,144			17,833			14,167
	(865,821	)		(786,447	)		(4,165,509	)		(3,830,134	)		(1,107,231	)		(859,001	)		(1,749,176	)		(1,740,811	)		(466,242	)		(821,670	)
	(4,802	)		(5,807	)		(12,950	)		(15,605	)		(51,390	)		(54,809	)		(8,960	)		(10,454	)		(30,435	)		(33,991	)
	233,304			368,422			(377,759	)		(246,683	)		(778,759	)		(168,129	)		(146,155	)		(201,963	)		(571,144	)		(217,109	)
	(603,561	)		(413,240	)		(4,533,359	)		(4,024,360	)		(1,920,414	)		(1,068,009	)		(1,895,748	)		(1,862,084	)		(1,049,988	)		(1,058,603	)
	(338,493	)		(328,720	)		(1,962,917	)		2,929,706			(879,447	)		1,588,563			(1,320,720	)		2,144,037			(877,351	)		291,663
	5,008,181			5,336,901			26,225,717			23,296,011			10,448,536			8,859,973			20,636,460			18,492,423			7,018,603			6,726,940
	$4,669,688			$5,008,181			$24,262,800			$26,225,717			$9,569,089			$10,448,536			$19,315,740			$20,636,460			$6,141,252			$7,018,603


	38,871			47,767			1,179			2,906			9,225			11,301			2,118			4,219			753			3,548
	(97,129	)		(89,102	)		(37,540	)		(29,941	)		(40,101	)		(34,980	)		(18,103	)		(25,499	)		(20,618	)		(26,478	)

	(58,258	)		(41,335	)		(36,361	)		(27,035	)		(30,876	)		(23,679	)		(15,985	)		(21,280	)		(19,865	)		(22,930	)

See accompanying notes to financial statements.

F-33

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



Allspring Variable Trust						BNY Mellon																		BlackRock Variable Series Funds, Inc.

Allspring VT Discovery All Cap Growth Fund — Class 2						BNY Mellon Investment Portfolios — MidCap Stock Portfolio — Initial Shares						BNY Mellon Sustainable U.S. Equity Portfolio, Inc. — Initial Shares						BNY Mellon Variable Investment Fund — Government Money Market Portfolio						BlackRock Advantage SMID Cap V.I. Fund — Class III Shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$(33,445	)		$(36,540	)		$(1,524	)		$(2,771	)		$(130,286	)		$(96,734	)		$25,199			$39,952			$(37,982	)		$(11,875	)
	(24,316	)		(4,494	)		7,642			3,751			472,062			332,286			—			—			400,019			(101,061	)
	(435,002	)		341,445			(11,669	)		20,039			228,204			1,686,144			—			3			(734,109	)		1,044,678
	798,197			119,474			22,497			1,578			832,043			64,008			—			—			336,770			—
	305,434			419,885			16,946			22,597			1,402,023			1,985,704			25,199			39,955			(35,302	)		931,742


	480			480			—			370			—			—			—			—			1,010			14,142
	(283,051	)		(323,631	)		(17,734	)		(22,743	)		(883,359	)		(376,543	)		(1,058,147	)		(1,020,976	)		(671,334	)		(1,387,763	)
	(8,290	)		(8,270	)		(781	)		(799	)		(26,855	)		(23,162	)		(876	)		(1,546	)		(23,394	)		(57,848	)
	(182,292	)		(39,890	)		(131,164	)		150,609			(213,070	)		(965,637	)		838,169			304,834			(6,609,030	)		422,138
	(473,153	)		(371,311	)		(149,679	)		127,437			(1,123,284	)		(1,365,342	)		(220,854	)		(717,688	)		(7,302,748	)		(1,009,331	)
	(167,719	)		48,574			(132,733	)		150,034			278,739			620,362			(195,655	)		(677,733	)		(7,338,050	)		(77,589	)
	2,344,586			2,296,012			256,329			106,295			9,976,910			9,356,548			1,149,262			1,826,995			9,811,054			9,888,643
	$2,176,867			$2,344,586			$123,596			$256,329			$10,255,649			$9,976,910			$953,607			$1,149,262			$2,473,004			$9,811,054


	516			159			535			7,383			37			659			101,001			82,261			3,834			26,652
	(8,581	)		(7,561	)		(5,553	)		(2,393	)		(36,340	)		(46,466	)		(123,432	)		(158,150	)		(198,091	)		(55,121	)

	(8,065	)		(7,402	)		(5,018	)		4,990			(36,303	)		(45,807	)		(22,431	)		(75,889	)		(194,257	)		(28,469	)

See accompanying notes to financial statements.

F-37

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



Fidelity^® Variable Insurance Products Fund

VIP Asset Manager 50% Portfolio — Initial Class						VIP Asset Manager 50% Portfolio — Service Class 2						VIP Balanced Portfolio — Service Class 2						VIP Contrafund^® Portfolio — Initial Class						VIP Contrafund^® Portfolio — Service Class 2

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$308,491			$312,758			$18,473			$28,413			$(159,121	)		$(117,149	)		$(1,344,543	)		$(1,269,283	)		$(2,157,011	)		$(2,235,293	)
	454,518			280,903			60,251			39,754			1,913,200			2,220,904			6,940,109			8,029,740			8,429,841			12,264,096
	1,329,706			1,130,225			174,085			151,203			1,647,578			2,916,293			(3,146,155	)		9,099,948			(4,159,119	)		11,770,800
	1,223,236			174,588			212,913			27,199			2,723,595			1,786,042			16,499,282			11,694,232			21,463,369			15,992,852
	3,315,951			1,898,474			465,722			246,569			6,125,252			6,806,090			18,948,693			27,554,637			23,577,080			37,792,455


	153,767			195,731			—			—			50,125			73,837			277,519			221,082			255,108			200,325
	(4,129,523	)		(3,028,029	)		(305,550	)		(235,796	)		(5,407,462	)		(6,548,905	)		(14,212,980	)		(15,746,013	)		(14,101,388	)		(17,012,687	)
	(13,690	)		(16,503	)		(7,954	)		(8,972	)		(282,619	)		(301,763	)		(56,497	)		(62,557	)		(993,036	)		(1,082,260	)
	(109,368	)		(72,091	)		(629,633	)		526,507			(1,208,036	)		(349,142	)		(812,992	)		(256,924	)		(9,893,267	)		(18,403,524	)
	(4,098,814	)		(2,920,892	)		(943,137	)		281,739			(6,847,992	)		(7,125,973	)		(14,804,950	)		(15,844,412	)		(24,732,583	)		(36,298,146	)
	(782,863	)		(1,022,418	)		(477,415	)		528,308			(722,740	)		(319,883	)		4,143,743			11,710,225			(1,155,503	)		1,494,309
	26,660,742			27,683,160			4,432,393			3,904,085			52,811,224			53,131,107			103,679,007			91,968,782			134,191,936			132,697,627
	$25,877,879			$26,660,742			$3,954,978			$4,432,393			$52,088,484			$52,811,224			$107,822,750			$103,679,007			$133,036,433			$134,191,936


	3,549			5,762			5,523			31,934			96,429			155,807			12,642			16,298			194,885			209,202
	(65,197	)		(51,204	)		(48,204	)		(19,605	)		(333,185	)		(411,935	)		(114,012	)		(142,856	)		(668,760	)		(1,077,174	)

	(61,648	)		(45,442	)		(42,681	)		12,329			(236,756	)		(256,128	)		(101,370	)		(126,558	)		(473,875	)		(867,972	)

See accompanying notes to financial statements.

F-41

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



Fidelity^® Variable Insurance Products Fund

VIP Growth & Income Portfolio — Initial Class						VIP Growth & Income Portfolio — Service Class 2						VIP Growth Opportunities Portfolio — Initial Class						VIP Growth Opportunities Portfolio — Service Class 2						VIP Growth Portfolio — Initial Class

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$8,149			$(10,942	)		$(32,235	)		$(43,283	)		$(225,177	)		$(212,794	)		$(125,261	)		$(123,234	)		$(737,608	)		$(937,737	)
	1,200,791			1,119,596			1,177,170			672,794			1,205,568			1,169,323			792,984			366,144			2,576,335			4,103,029
	4,245			690,304			(139,293	)		807,221			1,725,902			3,630,724			730,730			2,191,704			(1,889,169	)		(1,126,190	)
	1,267,009			920,715			1,202,699			841,606			250,798			—			120,083			—			9,049,702			15,221,638
	2,480,194			2,719,673			2,208,341			2,278,338			2,957,091			4,587,253			1,518,536			2,434,614			8,999,260			17,260,740


	19,273			14,897			105,269			61,925			60,334			(16,156	)		52,287			38,733			149,406			137,820
	(2,079,872	)		(2,494,612	)		(3,036,835	)		(1,382,401	)		(1,737,126	)		(2,516,512	)		(1,514,776	)		(1,187,059	)		(7,440,000	)		(8,686,907	)
	(11,563	)		(12,959	)		(45,172	)		(44,825	)		(7,320	)		(8,357	)		(34,851	)		(34,056	)		(27,640	)		(32,353	)
	(464,704	)		(128,938	)		(146,028	)		(128,617	)		(40,687	)		(175,488	)		(114,571	)		(38,453	)		(391,494	)		246,049
	(2,536,866	)		(2,621,612	)		(3,122,766	)		(1,493,918	)		(1,724,799	)		(2,716,513	)		(1,611,911	)		(1,220,835	)		(7,709,728	)		(8,335,391	)
	(56,672	)		98,061			(914,425	)		784,420			1,232,292			1,870,740			(93,375	)		1,213,779			1,289,532			8,925,349
	14,247,972			14,149,911			12,666,511			11,882,091			15,506,533			13,635,793			8,379,075			7,165,296			71,919,344			62,993,995
	$14,191,300			$14,247,972			$11,752,086			$12,666,511			$16,738,825			$15,506,533			$8,285,700			$8,379,075			$73,208,876			$71,919,344


	6,651			4,340			17,020			15,580			8,204			4,033			9,088			8,183			4,479			16,411
	(52,250	)		(55,347	)		(90,806	)		(57,828	)		(27,528	)		(44,594	)		(30,129	)		(27,948	)		(46,843	)		(61,655	)

	(45,599	)		(51,007	)		(73,786	)		(42,248	)		(19,324	)		(40,561	)		(21,041	)		(19,765	)		(42,364	)		(45,244	)

See accompanying notes to financial statements.

F-43

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



Fidelity^® Variable Insurance Products Fund (continued)																		Franklin Templeton Variable Insurance Products Trust

VIP Mid Cap Portfolio — Service Class 2						VIP Overseas Portfolio — Initial Class						VIP Value Strategies Portfolio — Service Class 2						Franklin Allocation VIP Fund — Class 2 Shares						Franklin Income VIP Fund — Class 2 Shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$(729,354	)		$(704,160	)		$21,381			$20,785			$(17,975	)		$(22,126	)		$6,218			$28,746			$3,806,771			$4,472,603
	(1,023,326	)		1,224,508			351,186			430,656			49,599			105,509			(706,975	)		(1,015,162	)		(558,376	)		(1,330,531	)
	217,234			(873,552	)		402,869			(493,990	)		25,405			(242,003	)		2,092,236			2,938,621			7,246,202			3,281,682
	6,153,200			8,393,163			859,786			425,484			98,949			358,462			991,836			—			1,283,327			582,870
	4,617,754			8,039,959			1,635,222			382,935			155,978			199,842			2,383,315			1,952,205			11,777,924			7,006,624


	119,736			40,157			44,190			18,946			—			7,392			38,159			132			365,631			283,002
	(5,316,701	)		(7,411,617	)		(1,055,735	)		(1,094,487	)		(128,256	)		(434,707	)		(4,018,527	)		(4,216,640	)		(15,601,581	)		(19,665,679	)
	(207,105	)		(230,396	)		(7,487	)		(8,068	)		(7,209	)		(7,981	)		(251,822	)		(276,299	)		(796,668	)		(868,305	)
	(19,006,745	)		12,300,208			316,334			(25,061	)		(252,568	)		4,826			(485,104	)		(865,094	)		(6,075,654	)		(4,324,831	)
	(24,410,815	)		4,698,352			(702,698	)		(1,108,670	)		(388,033	)		(430,470	)		(4,717,294	)		(5,357,901	)		(22,108,272	)		(24,575,813	)
	(19,793,061	)		12,738,311			932,524			(725,735	)		(232,055	)		(230,628	)		(2,333,979	)		(3,405,696	)		(10,330,348	)		(17,569,189	)
	64,978,044			52,239,733			8,962,719			9,688,454			2,543,025			2,773,653			25,315,967			28,721,663			126,462,508			144,031,697
	$45,184,983			$64,978,044			$9,895,243			$8,962,719			$2,310,970			$2,543,025			$22,981,988			$25,315,967			$116,132,160			$126,462,508


	88,325			535,565			10,128			9,135			1,232			1,289			48,685			43,399			289,473			422,270
	(679,720	)		(234,581	)		(28,803	)		(38,889	)		(10,383	)		(12,312	)		(332,997	)		(386,650	)		(1,403,466	)		(1,676,323	)

	(591,395	)		300,984			(18,675	)		(29,754	)		(9,151	)		(11,023	)		(284,312	)		(343,251	)		(1,113,993	)		(1,254,053	)

See accompanying notes to financial statements.

F-45

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



Franklin Templeton Variable Insurance Products Trust (continued)																		Goldman Sachs Variable Insurance Trust

Templeton Foreign VIP Fund — Class 2 Shares						Templeton Global Bond VIP Fund — Class 1 Shares						Templeton Growth VIP Fund — Class 2 Shares						Goldman Sachs Government Money Market Fund — Service Shares						Goldman Sachs Large Cap Value Fund — Institutional Shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$987			$1,397			$(24,685	)		$(28,660	)		$(26,500	)		$(24,637	)		$2,655,997			$3,926,490			$(16,146	)		$(4,471	)
	4,889			1,435			(68,351	)		(123,770	)		94,839			100,785			—			—			(61,247	)		(17,072	)
	20,881			(6,472	)		332,770			(115,775	)		431,879			84,746			—			1			(112,571	)		130,526
	8,757			—			—			—			302,095			14,757			—			—			562,262			527,467
	35,514			(3,640	)		239,734			(268,205	)		802,313			175,651			2,655,997			3,926,491			372,298			636,450


	—			—			1,147			720			31,088			19,070			1,104,948			793,486			12,378			33,669
	(8,750	)		(22,633	)		(166,498	)		(339,817	)		(309,055	)		(470,958	)		(88,969,162	)		(78,705,542	)		(654,467	)		(565,344	)
	(333	)		(636	)		(2,581	)		(3,341	)		(30,264	)		(34,449	)		(382,170	)		(361,710	)		(4,536	)		(5,495	)
	(43,020	)		3,260			(66,176	)		12,271			(489,024	)		63,071			83,055,590			58,726,100			20,821			(21,918	)
	(52,103	)		(20,009	)		(234,108	)		(330,167	)		(797,255	)		(423,266	)		(5,190,794	)		(19,547,666	)		(625,804	)		(559,088	)
	(16,589	)		(23,649	)		5,626			(598,372	)		5,058			(247,615	)		(2,534,797	)		(15,621,175	)		(253,506	)		77,362
	157,737			181,386			1,726,582			2,324,954			4,136,561			4,384,176			114,246,780			129,867,955			4,411,987			4,334,625
	$141,148			$157,737			$1,732,208			$1,726,582			$4,141,619			$4,136,561			$111,711,983			$114,246,780			$4,158,481			$4,411,987


	133			377			2,780			5,726			23,428			47,228			12,018,818			9,539,581			4,052			11,985
	(2,324	)		(1,222	)		(18,506	)		(28,528	)		(75,149	)		(77,054	)		(12,553,074	)		(11,610,868	)		(24,131	)		(31,208	)

	(2,191	)		(845	)		(15,726	)		(22,802	)		(51,721	)		(29,826	)		(534,256	)		(2,071,287	)		(20,079	)		(19,223	)

See accompanying notes to financial statements.

F-47

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



Janus Aspen Series (continued)

Janus Henderson Enterprise Portfolio — Institutional Shares						Janus Henderson Enterprise Portfolio — Service Shares						Janus Henderson Flexible Bond Portfolio — Institutional Shares						Janus Henderson Forty Portfolio — Institutional Shares						Janus Henderson Forty Portfolio — Service Shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$(393,375	)		$(261,873	)		$(61,707	)		$(42,281	)		$218,497			$211,486			$(426,290	)		$(486,706	)		$(204,225	)		$(429,420	)
	1,483,743			1,638,673			86,629			116,779			(236,943	)		(230,736	)		1,700,524			1,423,453			698,776			5,825,592
	(1,662,200	)		2,051,561			(155,521	)		315,534			351,896			52,139			(894	)		5,322,119			(250,456	)		(1,122,640	)
	2,690,260			1,501,505			388,417			208,937			—			—			4,316,030			2,016,936			2,158,205			2,187,391
	2,118,428			4,929,866			257,818			598,969			333,450			32,889			5,589,370			8,275,802			2,402,300			6,460,923


	9,636			76,744			—			—			11,441			9,507			139,360			60,240			30,140			38,973
	(4,276,257	)		(5,102,209	)		(359,398	)		(329,690	)		(1,362,942	)		(825,429	)		(4,288,837	)		(4,083,114	)		(1,820,521	)		(3,170,578	)
	(22,691	)		(27,002	)		(6,768	)		(7,173	)		(6,767	)		(7,415	)		(22,117	)		(24,028	)		(56,659	)		(183,249	)
	(99,507	)		(37,712	)		(3,791	)		(62,261	)		563,986			(96,283	)		117,854			(187,903	)		(964,966	)		(20,837,879	)
	(4,388,819	)		(5,090,179	)		(369,957	)		(399,124	)		(794,282	)		(919,620	)		(4,053,740	)		(4,234,805	)		(2,812,006	)		(24,152,733	)
	(2,270,391	)		(160,313	)		(112,139	)		199,845			(460,832	)		(886,731	)		1,535,630			4,040,997			(409,706	)		(17,691,810	)
	37,339,088			37,499,401			4,700,546			4,500,701			5,886,466			6,773,197			36,746,380			32,705,383			16,440,885			34,132,695
	$35,068,697			$37,339,088			$4,588,407			$4,700,546			$5,425,634			$5,886,466			$38,282,010			$36,746,380			$16,031,179			$16,440,885


	4,787			4,515			668			1,372			23,742			11,369			10,183			3,082			5,652			23,781
	(47,470	)		(57,622	)		(12,088	)		(13,346	)		(60,140	)		(53,942	)		(41,112	)		(44,113	)		(45,237	)		(580,450	)

	(42,683	)		(53,107	)		(11,420	)		(11,974	)		(36,398	)		(42,573	)		(30,929	)		(41,031	)		(39,585	)		(556,669	)

See accompanying notes to financial statements.

F-49

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



Janus Aspen Series (continued)																								Legg Mason Partners Variable Equity Trust

Janus Henderson Overseas Portfolio — Institutional Shares						Janus Henderson Overseas Portfolio — Service Shares						Janus Henderson Research Portfolio — Institutional Shares						Janus Henderson Research Portfolio — Service Shares						ClearBridge Variable Dividend Strategy Portfolio — Class I

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$932			$(16,922	)		$(3,229	)		$(4,951	)		$(520,623	)		$(556,067	)		$(43,185	)		$(47,435	)		$27,984			$(4,785	)
	540,316			375,692			116,429			141,547			3,635,620			2,983,182			248,620			196,640			34,125			61,623
	3,151,092			341,861			200,855			(59,437	)		153,403			7,844,378			(21,135	)		604,019			(183,278	)		52,618
	—			—			—			—			3,079,481			1,158,700			239,405			90,347			521,542			396,378
	3,692,340			700,631			314,055			77,159			6,347,881			11,430,193			423,705			843,571			400,373			505,834


	40,747			13,451			4,780			—			184,811			139,978			4,200			396			—			42,953
	(1,373,767	)		(1,858,731	)		(277,692	)		(407,674	)		(6,016,322	)		(5,876,660	)		(400,583	)		(406,078	)		(236,818	)		(388,215	)
	(8,654	)		(10,355	)		(1,903	)		(3,256	)		(21,634	)		(24,287	)		(4,324	)		(3,992	)		(3,526	)		(3,780	)
	(121,088	)		70,846			(39,557	)		(44,469	)		(706,090	)		(392,423	)		(159,059	)		(22,604	)		17,255			142,136
	(1,462,762	)		(1,784,789	)		(314,372	)		(455,399	)		(6,559,235	)		(6,153,392	)		(559,766	)		(432,278	)		(223,089	)		(206,906	)
	2,229,578			(1,084,158	)		(317	)		(378,240	)		(211,354	)		5,276,801			(136,061	)		411,293			177,284			298,928
	14,395,042			15,479,200			1,360,065			1,738,305			41,915,285			36,638,484			3,176,238			2,764,945			3,720,984			3,422,056
	$16,624,620			$14,395,042			$1,359,748			$1,360,065			$41,703,931			$41,915,285			$3,040,177			$3,176,238			$3,898,268			$3,720,984


	9,626			5,839			698			1,543			6,089			4,968			665			654			2,440			8,909
	(40,850	)		(48,786	)		(16,178	)		(23,398	)		(77,899	)		(88,082	)		(17,041	)		(15,151	)		(8,640	)		(15,544	)
	(31,224	)		(42,947	)		(15,480	)		(21,855	)		(71,810	)		(83,114	)		(16,376	)		(14,497	)		(6,200	)		(6,635	)

See accompanying notes to financial statements.

F-51

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



Lincoln Variable Insurance Products Trust (continued)						MFS^® Variable Insurance Trust

LVIP JPMorgan U.S. Equity Fund — Standard Class						MFS^® Investors Trust Series — Service Class Shares						MFS^® New Discovery Series — Service Class Shares						MFS^® Total Return Series — Service Class Shares						MFS^® Utilities Series — Service Class Shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$(6,218	)		$(12,620	)		$(32,197	)		$(42,524	)		$(116,714	)		$(129,776	)		$135,501			$80,104			$98,572			$56,168
	14,012			267,698			128,483			257,150			(482,501	)		(449,359	)		113,272			240,946			267,823			116,744
	26,402			(82,185	)		(1,142,847	)		128,184			1,374,203			990,772			33,722			(196,935	)		570,831			400,866
	23,306			28,170			1,412,231			288,741			—			—			1,718,007			1,213,624			118,760			283,554
	57,502			201,063			365,670			631,551			774,988			411,637			2,000,502			1,337,739			1,055,986			857,332


	—			370			—			—			11,949			255			102,844			188,382			136			136
	(52,890	)		(568,901	)		(647,398	)		(480,861	)		(839,584	)		(722,753	)		(2,936,278	)		(3,145,065	)		(958,732	)		(993,177	)
	(1,285	)		(1,240	)		(5,711	)		(7,183	)		(13,511	)		(16,253	)		(121,632	)		(130,510	)		(23,967	)		(24,711	)
	530,408			(486,411	)		(15,818	)		(255,540	)		(483,066	)		(156,862	)		(517,971	)		155,474			(937,905	)		614,176
	476,233			(1,056,182	)		(668,927	)		(743,584	)		(1,324,212	)		(895,613	)		(3,473,037	)		(2,931,719	)		(1,920,468	)		(403,576	)
	533,735			(855,119	)		(303,257	)		(112,033	)		(549,224	)		(483,976	)		(1,472,535	)		(1,593,980	)		(864,482	)		453,756
	307,696			1,162,815			3,592,707			3,704,740			8,141,445			8,625,421			24,532,763			26,126,743			9,725,222			9,271,466
	$841,431			$307,696			$3,289,450			$3,592,707			$7,592,221			$8,141,445			$23,060,228			$24,532,763			$8,860,740			$9,725,222


	10,425			1,097			149			1,035			3,749			3,780			81,195			107,556			7,862			29,036
	(1,406	)		(22,034	)		(17,873	)		(19,599	)		(37,994	)		(29,701	)		(223,494	)		(259,826	)		(55,639	)		(40,449	)
	9,019			(20,937	)		(17,724	)		(18,564	)		(34,245	)		(25,921	)		(142,299	)		(152,270	)		(47,777	)		(11,413	)

See accompanying notes to financial statements.

F-55

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



PIMCO Variable Insurance Trust (continued)

High Yield Portfolio — Administrative Class Shares						International Bond Portfolio (U.S. Dollar Hedged) — Administrative Class Shares						Long-Term U.S. Government Portfolio — Administrative Class Shares						Low Duration Portfolio — Administrative Class Shares						Total Return Portfolio — Administrative Class Shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$1,121,502			$1,106,805			$19,057			$21,363			$356,786			$372,622			$572,782			$819,298			$2,209,815			$2,255,958
	(24,285	)		(131,901	)		(2,760	)		(10,951	)		(2,281,237	)		(9,636,161	)		(273,370	)		(869,153	)		(2,199,966	)		(2,264,451	)
	575,240			348,357			6,571			28,008			3,108,196			6,487,026			646,485			990,361			6,245,403			771,893
	—			—			—			—			—			—			—			—			—			—
	1,672,457			1,323,261			22,868			38,420			1,183,745			(2,776,513	)		945,897			940,506			6,255,252			763,400


	54,270			33,256			—			537			120,253			82,707			42,900			56,784			226,466			272,632
	(3,107,019	)		(3,541,446	)		(40,084	)		(150,043	)		(3,478,340	)		(4,880,752	)		(5,980,522	)		(4,429,948	)		(13,269,661	)		(11,600,475	)
	(177,769	)		(195,560	)		(1,708	)		(1,735	)		(236,579	)		(408,409	)		(240,293	)		(360,876	)		(743,916	)		(774,068	)
	(346,705	)		155,173			4,955			18,585			2,389,590			(19,223,215	)		159,161			(11,827,795	)		(2,554,598	)		12,536,768
	(3,577,223	)		(3,548,577	)		(36,837	)		(132,656	)		(1,205,076	)		(24,429,669	)		(6,018,754	)		(16,561,835	)		(16,341,709	)		434,857
	(1,904,766	)		(2,225,316	)		(13,969	)		(94,236	)		(21,331	)		(27,206,182	)		(5,072,857	)		(15,621,329	)		(10,086,457	)		1,198,257
	25,284,753			27,510,069			993,967			1,088,203			23,255,410			50,461,592			27,524,390			43,145,719			95,573,089			94,374,832
	$23,379,987			$25,284,753			$979,998			$993,967			$23,234,079			$23,255,410			$22,451,533			$27,524,390			$85,486,632			$95,573,089


	107,766			122,433			653			1,926			554,771			658,029			483,535			503,583			807,325			1,426,035
	(267,277	)		(288,878	)		(2,418	)		(8,521	)		(592,705	)		(2,444,285	)		(994,807	)		(2,016,958	)		(1,871,916	)		(1,339,902	)
	(159,511	)		(166,445	)		(1,765	)		(6,595	)		(37,934	)		(1,786,256	)		(511,272	)		(1,513,375	)		(1,064,591	)		86,133

See accompanying notes to financial statements.

F-57

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



State Street Variable Insurance Series Funds, Inc. (continued)

Real Estate Securities V.I.S. Fund — Class 1 Shares						S&P 500^® Index V.I.S. Fund — Class 1 Shares						Small-Cap Equity V.I.S. Fund — Class 1 Shares						Total Return V.I.S. Fund — Class 1 Shares						Total Return V.I.S. Fund — Class 3 Shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$(66,208	)		$234,140			$(821,846	)		$(564,131	)		$(291,323	)		$(309,098	)		$5,102,454			$18,088,014			$562,356			$5,801,526
	(294,275	)		(809,246	)		7,987,293			7,164,289			(291,547	)		(101,160	)		2,641,192			(2,953,897	)		1,551,625			(1,614,831	)
	241,706			3,543,733			4,613,537			11,117,171			(1,924,080	)		516,170			46,492,291			40,406,402			18,655,999			18,856,724
	191,749			—			10,689,019			12,979,445			2,109,845			1,676,224			26,211,642			125,636			10,308,070			53,019
	72,972			2,968,627			22,468,003			30,696,774			(397,105	)		1,782,136			80,447,579			55,666,155			31,078,050			23,096,438


	11,352			42,736			634,745			186,871			27,769			4,684			910,904			1,915,125			198,360			288,778
	(1,863,176	)		(3,960,417	)		(18,720,151	)		(18,153,661	)		(2,614,955	)		(2,422,697	)		(53,141,912	)		(50,220,368	)		(28,705,755	)		(31,997,413	)
	(30,080	)		(247,196	)		(376,635	)		(366,400	)		(51,972	)		(58,125	)		(157,314	)		(180,751	)		(1,918,879	)		(2,054,325	)
	(338,072	)		(32,882,450	)		(3,267,164	)		472,723			138,041			(41,200	)		(6,465,964	)		(3,310,726	)		(8,159,620	)		(8,576,360	)
	(2,219,976	)		(37,047,327	)		(21,729,205	)		(17,860,467	)		(2,501,117	)		(2,517,338	)		(58,854,286	)		(51,796,720	)		(38,585,894	)		(42,339,320	)
	(2,147,004	)		(34,078,700	)		738,798			12,836,307			(2,898,222	)		(735,202	)		21,593,293			3,869,435			(7,507,844	)		(19,242,882	)
	16,743,631			50,822,331			155,855,988			143,019,681			21,043,874			21,779,076			606,146,436			602,277,001			254,136,663			273,379,545
	$14,596,627			$16,743,631			$156,594,786			$155,855,988			$18,145,652			$21,043,874			$627,739,729			$606,146,436			$246,628,819			$254,136,663


	8,057			190,287			53,341			106,603			15,730			14,080			1,262,000			1,214,009			325,836			489,603
	(39,365	)		(1,641,808	)		(402,376	)		(446,760	)		(64,715	)		(65,269	)		(3,673,661	)		(3,537,122	)		(2,673,502	)		(3,279,624	)
	(31,308	)		(1,451,521	)		(349,035	)		(340,157	)		(48,985	)		(51,189	)		(2,411,661	)		(2,323,113	)		(2,347,666	)		(2,790,021	)

See accompanying notes to financial statements.

F-59

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Statements of Changes in Net Assets — Continued



	State Street Variable Insurance Series Funds, Inc. (continued)						The Alger Portfolios

	U.S. Equity V.I.S. Fund — Class 1 Shares						Alger Large Cap Growth Portfolio — Class I-2 Shares						Alger Small Cap Growth Portfolio — Class I-2 Shares

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(207,341	)		$(224,856	)		$(415,254	)		$(381,343	)		$(136,902	)		$(122,129	)
Net realized gain (loss) on investments		571,402			1,283,321			2,245,889			989,615			(796,207	)		(649,097	)
Change in unrealized appreciation (depreciation) on investments		(947,627	)		(518,778	)		2,282,921			8,405,882			1,127,213			1,483,432
Capital gain distributions		2,620,136			3,318,841			3,308,870			—			113,556			—
Increase (decrease) in net assets from operations		2,036,570			3,858,528			7,422,426			9,014,154			307,660			712,206

From capital transactions (note 4):
Net premiums		1,211,629			29,250			25,510			89,505			280			295
Transfers for contract benefits and terminations		(3,136,843	)		(3,727,303	)		(5,034,791	)		(3,477,271	)		(1,446,286	)		(1,151,505	)
Administrative expenses		(40,400	)		(48,893	)		(16,409	)		(18,409	)		(7,192	)		(9,699	)
Transfers between subaccounts (including fixed account), net		(1,867,819	)		(726,100	)		(221,623	)		(675,387	)		(55,441	)		(150,931	)
Increase (decrease) in net assets from capital transactions		(3,833,433	)		(4,473,046	)		(5,247,313	)		(4,081,562	)		(1,508,639	)		(1,311,840	)
Increase (decrease) in net assets		(1,796,863	)		(614,518	)		2,175,113			4,932,592			(1,200,979	)		(599,634	)
Net assets at beginning of year		16,857,032			17,471,550			28,420,997			23,488,405			10,905,491			11,505,125
Net assets at end of year		$15,060,169			$16,857,032			$30,596,110			$28,420,997			$9,704,512			$10,905,491

Change in units (note 5):
Units purchased		55,554			7,555			5,861			11,093			6,511			3,184
Units redeemed		(131,655	)		(106,262	)		(65,903	)		(86,794	)		(54,853	)		(43,292	)
Net increase (decrease) in units from capital transactions with contract owners		(76,101	)		(98,707	)		(60,042	)		(75,701	)		(48,342	)		(40,108	)

See accompanying notes to financial statements.

F-60

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements

December 31, 2025

(1)

Description of Entity

Genworth Life & Annuity VA Separate Account 1 (the “Separate Account”) is a separate investment account established on August 19, 1987 by Genworth Life and Annuity Insurance Company (“GLAIC”), pursuant to the laws of the Commonwealth of Virginia. GLAIC is a stock life insurance company operating under a charter granted by the Commonwealth of Virginia on March 21, 1871. GLAIC is licensed as a life insurer to do business in Bermuda, the District of Columbia and all states except for New York. GLAIC is wholly-owned by Genworth Life Insurance Company, which is wholly-owned by Genworth North America Corporation, which is indirectly wholly-owned by Genworth Financial, Inc.

GLAIC has a 34.5% investment in an affiliate, Genworth Life Insurance Company of New York.

GLAIC’s principal products are life insurance and fixed deferred and immediate annuities. Life insurance products provide protection against financial hardship after the death of an insured. Deferred annuities are investment vehicles intended for contract owners who want to accumulate tax-deferred assets for retirement, desire a tax-efficient source of income and seek to protect against outliving their assets. Immediate annuities provide a fixed amount of income for either a defined number of years, the annuitant’s lifetime or the longer of a defined number of years or the annuitant’s lifetime. In March 2016, GLAIC suspended sales of traditional life insurance and fixed annuity products. GLAIC, however, continues to service its existing retained and reinsured blocks of business.

GLAIC also has other products which have not been actively sold since 2011, but it continues to service its existing blocks of business. Those products include variable annuities, including group variable annuities offered through retirement plans, variable life insurance and funding agreements. Most of its variable annuities include guaranteed minimum death benefits. Some of GLAIC’s group and individual variable annuity products include guaranteed minimum benefit features such as guaranteed minimum withdrawal benefits and certain types of guaranteed annuitization benefits.

The Separate Account has subaccounts that currently invest in series or portfolios (“Portfolios”) of open-end mutual funds (“Funds”). Such Portfolios are not sold directly to the general public. The Portfolios are sold to GLAIC, and they may also be sold to other insurance companies that issue variable annuity contracts and variable life insurance policies, including affiliated insurance companies of GLAIC. In addition, the Portfolios may be sold to retirement plans. GLAIC uses the Separate Account to support flexible premium variable deferred and immediate annuity contracts issued by GLAIC, as well as other purposes permitted by law.

Currently, there are multiple subaccounts of the Separate Account available under each contract. Each subaccount invests exclusively in shares representing an interest in a separate corresponding Portfolio (a division of a Fund, the assets of which are separate from other Portfolios that may be available in the Fund).

The assets of the Separate Account belong to GLAIC. However, GLAIC does not charge the assets in the Separate Account attributable to the contracts with liabilities arising out of any other business that GLAIC may conduct. The assets of the Separate Account will, however, be available to cover the liabilities of GLAIC’s General Account to the extent that the assets of the Separate Account exceed its liabilities arising under the contracts supported by it. Income and both realized and unrealized gains or losses from the assets of the Separate Account are credited to or charged against the Separate Account without regard to the income, gains or losses arising out of any other business GLAIC may conduct. Guarantees made under the contracts, including any rider options, are based on the claims paying ability of GLAIC to the extent that the amount of the guarantee exceeds the assets available in the Separate Account.

The Separate Account is registered with the U.S. Securities and Exchange Commission (“SEC”) as a unit investment trust under the Investment Company Act of 1940, as amended. The Separate Account meets the definition of a separate account under the Federal securities laws. Registration with the SEC does not involve supervision of the management or investment practices or policies of the Separate Account by the SEC. Contract owners assume the full investment risk for amounts allocated by contract owners to the Separate Account.

F-62

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025

During the years ended December 31, 2025 and 2024, the following Portfolio names were changed:


Prior Portfolio Name	Current Portfolio Name	Effective Date
Columbia Funds Variable Series Trust II — CTIVP^® — Principal Blue Chip Growth Fund — Class 1	Columbia Funds Variable Series Trust II — CTIVP^® — Principal Large Cap Growth Fund — Class 1	May 30, 2025
Fidelity^® Variable Insurance Products Fund — VIP Asset Manager Portfolio — Initial Class	Fidelity^® Variable Insurance Products Fund — VIP Asset Manager 50% Portfolio — Initial Class	April 30, 2025
Fidelity^® Variable Insurance Products Fund — VIP Asset Manager Portfolio — Service Class 2	Fidelity^® Variable Insurance Products Fund — VIP Asset Manager 50% Portfolio — Service Class 2	April 30, 2025
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) — Invesco V.I. Capital Appreciation Fund — Series I shares	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) — Invesco V.I. Discovery Large Cap Fund — Series I shares	April 29, 2025
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) — Invesco V.I. Capital Appreciation Fund — Series II shares	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) — Invesco V.I. Discovery Large Cap Fund — Series II Shares	April 29, 2025
Legg Mason Partners Variable Equity Trust — ClearBridge Variable Aggressive Growth Portfolio — Class II	Legg Mason Partners Variable Equity Trust — ClearBridge Variable Growth Portfolio — Class II	April 29, 2024
American Century Variable Portfolios II, Inc. — VP Inflation Protection Fund — Class II	Lincoln Variable Insurance Products Trust — LVIP American Century Inflation Protection Fund — Service Class	April 26, 2024
American Century Variable Portfolios, Inc. — VP Disciplined Core Value Fund — Class I	Lincoln Variable Insurance Products Trust — LVIP American Century Disciplined Core Value Fund — Standard Class II	April 26, 2024
American Century Variable Portfolios, Inc. — VP International Fund — Class I	Lincoln Variable Insurance Products Trust — LVIP American Century International Fund — Standard Class II	April 26, 2024
American Century Variable Portfolios, Inc. — VP Ultra^® Fund — Class I	Lincoln Variable Insurance Products Trust — LVIP American Century Ultra^® Fund — Standard Class II	April 26, 2024
American Century Variable Portfolios, Inc. — VP Value Fund — Class I	Lincoln Variable Insurance Products Trust — LVIP American Century Value Fund — Standard Class II	April 26, 2024

During the years ended December 31, 2025 and 2024, the following Portfolio(s) were liquidated, and the Portfolio assets were reinvested in new or existing Portfolio(s):


Liquidated Portfolio	Reinvested Portfolio	Inception Date
The Prudential Series Fund — PSF Mid — Cap Growth Portfolio — Class II Shares	The Prudential Series Fund — PSF PGIM Jennison Growth Portfolio — Class II Shares	April 11, 2025
The Prudential Series Fund — PSF Natural Resources Portfolio — Class II Shares	The Prudential Series Fund — PSF PGIM Jennison Blend Portfolio — Class II Shares	April 11, 2025
Deutsche DWS Variable Series I — DWS Capital Growth VIP — Class B Shares	BNY Mellon — BNY Mellon Variable Investment Fund — Government Money Market Portfolio	June 17, 2024

F-63

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


Liquidated Portfolio	Reinvested Portfolio	Inception Date
Deutsche DWS Variable Series II — DWS CROCI^® U.S. VIP — Class B Shares	BNY Mellon — BNY Mellon Variable Investment Fund — Government Money Market Portfolio	June 17, 2024
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) — Invesco V.I. Conservative Balanced Fund — Series I shares	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) — Invesco V.I. Equity and Income Fund — Series I shares	April 26, 2024
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) — Invesco V.I. Conservative Balanced Fund — Series II shares	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) — Invesco V.I. Equity and Income Fund — Series II shares	April 26, 2024

All designated Portfolios listed above are series type mutual funds.

(2)

Summary of Significant Accounting Policies

(a) Basis of Presentation

These financial statements have been prepared on the basis of U.S. generally accepted accounting principles (“U.S. GAAP”). Preparing financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts and disclosures reported therein. Actual results could differ from those estimates. The Separate Account is an investment company and follows accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services — Investment Companies.

(b) Investments

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Separate Account, generally, uses a market approach as the valuation technique due to the nature of the mutual fund investments offered in the Separate Account. This technique maximizes the use of observable inputs and minimizes the use of unobservable inputs. Investments in mutual funds are valued at the mutual fund’s closing net asset value per share on the day of valuation.

Valuation Inputs: Various inputs are used to determine the value of the mutual fund’s investments. These inputs are summarized in the three broad levels listed below:

•

Level 1 — quoted prices in active markets for identical securities;

•

Level 2 — observable inputs other than Level 1 quoted prices (including, but not limited to, quoted prices for similar securities, interest rates, prepayment speeds and credit risk); and

•

Level 3 — unobservable inputs.

The investments of the Separate Account are measured at fair value on a recurring basis. All investments are categorized as Level 1 as of December 31, 2025 and there were no transfers between the levels during 2025.

Purchases and redemptions of investments in mutual funds are recorded on that the Valuation Day the request for the purchase or redemption is received. A Valuation Day is any day that the New York Stock Exchange is open for regular trading, except for days on which a Portfolio does not value its shares. Income distributions, and gains from realized gain distributions, are recorded on the ex-dividend date. Realized gains and losses on investments are determined on the average cost basis. Units and unit values are disclosed as of the last Valuation Day of the applicable year or period.

F-64

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025

(c) Unit Classes

There are several unit classes of subaccounts based on the variable annuity contract through which the subaccounts are available. An indefinite number of units in each unit class is authorized. Each unit class has its own expense structure as noted in note 4(a) below. In January 2011, Genworth announced that its insurance company subsidiaries, including GLAIC, would discontinue new sales of variable annuity products but would continue to service existing blocks of business. Although the contracts are no longer available for new sales, additional purchase payments may still be accepted under the terms of the contracts.

(d) Federal Income Taxes

The operations of the Separate Account are a part of, and taxed with, the operations of GLAIC. Therefore, the Separate Account is not separately taxed as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). Under existing federal income tax laws, investment income and capital gains of the Separate Account are not taxed. Accordingly, the Separate Account paid no federal income taxes and no federal income tax payment was required. GLAIC is taxed as a life insurance company under the Code.

(e) Payments During Annuitization

Net assets allocated to the contracts in variable payout stages (“variable annuitization”) are computed in accordance with the mortality tables in effect at the time of contract issue. The default assumed interest rate is an effective annual rate of 3% for all variable annuitizations paid on a life contingency basis, with the exception of those contract owners who have annuitized while electing the Payment Optimizer Plus rider option. Under this rider option, the assumed interest rate is 4%. For contract owners who have purchased the RetireReady^SM Retirement Answer variable annuity, the assumed interest rate is 3.5%. The mortality risk is fully borne by GLAIC and may result in amounts transferred from GLAIC’s General Account to the Separate Account should annuitants live longer than assumed. GLAIC may transfer amounts from the Separate Account to its General Account should the contracts experience higher mortality than assumed.

(f) Segment Reporting

An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by a public entity’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The subaccounts within the Separate Account apply the guidance in Topic 280, Segment Reporting, which impacts financial statement disclosures only and does not affect the financial position or results of operations of the subaccounts of the Separate Account. The subaccounts have acted as single reportable segments, and the CODM of the subaccounts within the Separate Account is the Variable Product Portfolio Manager. The Separate Account is structured with a limited purpose by design, and its sole purpose is to record and report the invested funds and activities and performance chosen by contract/policy holders. Investment performance of funds may vary based on the underlying fund’s investment objectives specified in the fund prospectuses. Significant revenues and expenses are reported on the Statements of Changes in Net Assets and are reviewed by the CODM. The accounting policies of the segment are the same as those described in the summary of significant accounting policies herein.

(g) Subsequent Events

No material subsequent events have occurred since December 31, 2025 through April 23, 2026, the date the financial statements were available to be issued, that would require adjustment to the financial statements.

F-65

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025

(3)

Purchases and Sales of Investments

The aggregate cost of investments acquired, and the aggregate proceeds of investments sold, for the year ended December 31, 2025 were:


Fund/Portfolio	Cost of Shares Acquired		Proceeds from Shares Sold
AB Variable Products Series Fund, Inc.
AB VPS Balanced Hedged Allocation Portfolio — Class B	$	525,927	$	1,238,096
AB VPS International Value Portfolio — Class B		12,098,388		2,812,879
AB VPS Large Cap Growth Portfolio — Class B		1,648,763		2,696,570
AB VPS Relative Value Portfolio — Class B		3,461,623		5,174,140
AB VPS Small Cap Growth Portfolio — Class B		219,469		1,188,443
AB VPS Sustainable Global Thematic Portfolio — Class B		236,826		258,254
AIM Variable Insurance Funds (Invesco Variable Insurance Funds)
Invesco V.I. American Franchise Fund — Series I shares		1,024,658		2,234,081
Invesco V.I. American Franchise Fund — Series II shares		387,979		575,767
Invesco V.I. American Value Fund — Series II shares		2,437,036		1,769,005
Invesco V.I. Comstock Fund — Series II shares		11,886,035		9,848,723
Invesco V.I. Core Equity Fund — Series I shares		18,829,700		17,098,801
Invesco V.I. Core Plus Bond Fund — Series I shares		606,042		1,072,462
Invesco V.I. Discovery Large Cap Fund — Series I shares		3,167,349		5,162,112
Invesco V.I. Discovery Large Cap Fund — Series II Shares		1,610,350		2,473,424
Invesco V.I. Discovery Mid Cap Growth Fund — Series I shares		1,793,737		2,298,710
Invesco V.I. Discovery Mid Cap Growth Fund — Series II shares		649,763		1,188,153
Invesco V.I. EQV International Equity Fund — Series II shares		3,433,784		6,102,051
Invesco V.I. Equity and Income Fund — Series I shares		545,709		1,183,626
Invesco V.I. Equity and Income Fund — Series II shares		3,028,176		5,147,190
Invesco V.I. Global Fund — Series II shares		6,216,891		6,065,941
Invesco V.I. Global Real Estate Fund — Series II shares		15,627		161,444
Invesco V.I. Global Strategic Income Fund — Series I shares		163,775		306,089
Invesco V.I. Government Securities Fund — Series I shares		—		—
Invesco V.I. Main Street Fund^® — Series II shares		11,619,404		22,388,789
Invesco V.I. Main Street Small Cap Fund^® — Series II shares		5,655,105		7,034,445
Invesco V.I. Technology Fund — Series I shares		—		—
Advanced Series Trust
AST International Equity Portfolio — Class I Shares		—		—
Allspring Variable Trust
Allspring VT Discovery All Cap Growth Fund — Class 2		825,278		533,684
BNY Mellon
BNY Mellon Investment Portfolios — MidCap Stock Portfolio — Initial Shares		38,591		167,304
BNY Mellon Sustainable U.S. Equity Portfolio, Inc. — Initial Shares		859,050		1,280,565
BNY Mellon Variable Investment Fund — Government Money Market Portfolio		1,004,815		1,199,362
BlackRock Variable Series Funds, Inc.
BlackRock Advantage SMID Cap V.I. Fund — Class III Shares		514,629		7,518,915
BlackRock Basic Value V.I. Fund — Class III Shares		2,489,219		1,809,416
BlackRock Global Allocation V.I. Fund — Class III Shares		17,357,319		26,424,106
BlackRock Large Cap Focus Growth V.I. Fund — Class III Shares		1,580,231		1,184,407

F-66

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


Fund/Portfolio	Cost of Shares Acquired		Proceeds from Shares Sold
Columbia Funds Variable Series Trust II
CTIVP^® — Principal Large Cap Growth Fund — Class 1	$	1,023,762	$	5,812,925
Columbia Variable Portfolio — Overseas Core Fund — Class 2		523,686		1,997,368
Deutsche DWS Variable Series II
DWS Small Mid Cap Value VIP — Class B Shares		138,517		21,366
Eaton Vance Variable Trust
VT Floating — Rate Income Fund		3,522,237		4,890,646
Federated Hermes Insurance Series
Federated Hermes High Income Bond Fund II — Primary Shares		397,562		939,459
Federated Hermes High Income Bond Fund II — Service Shares		561,906		1,015,891
Federated Hermes Kaufmann Fund II — Service Shares		5,219,862		6,025,912
Federated Hermes Managed Volatility Fund II — Primary Shares		555,040		1,041,659
Fidelity^® Variable Insurance Products Fund
VIP Asset Manager 50% Portfolio — Initial Class		2,109,976		4,665,196
VIP Asset Manager 50% Portfolio — Service Class 2		423,722		1,135,496
VIP Balanced Portfolio — Service Class 2		6,546,094		10,830,161
VIP Contrafund^® Portfolio — Initial Class		18,585,931		18,323,232
VIP Contrafund^® Portfolio — Service Class 2		30,273,963		35,679,416
VIP Dynamic Capital Appreciation Portfolio — Service Class 2		371,309		150,279
VIP Equity-Income Portfolio^SM — Initial Class		5,490,064		9,862,694
VIP Equity-Income Portfolio^SM — Service Class 2		3,973,620		6,696,657
VIP Growth & Income Portfolio — Initial Class		1,959,006		3,293,094
VIP Growth & Income Portfolio — Service Class 2		2,072,964		4,031,831
VIP Growth Opportunities Portfolio — Initial Class		828,254		2,524,927
VIP Growth Opportunities Portfolio — Service Class 2		780,339		2,397,667
VIP Growth Portfolio — Initial Class		10,133,509		9,554,142
VIP Growth Portfolio — Service Class 2		2,917,006		4,132,747
VIP Investment Grade Bond Portfolio — Service Class 2		9,758,188		15,741,620
VIP Mid Cap Portfolio — Initial Class		—		—
VIP Mid Cap Portfolio — Service Class 2		9,348,784		28,434,124
VIP Overseas Portfolio — Initial Class		1,489,369		1,310,721
VIP Value Strategies Portfolio — Service Class 2		161,295		468,360
Franklin Templeton Variable Insurance Products Trust
Franklin Allocation VIP Fund — Class 2 Shares		2,237,930		6,323,258
Franklin Income VIP Fund — Class 2 Shares		12,890,331		30,126,168
Franklin Large Cap Growth VIP Fund — Class 2 Shares		23,112		86,985
Franklin Mutual Shares VIP Fund — Class 2 Shares		4,808,687		6,270,025
Templeton Foreign VIP Fund — Class 1 Shares		499,858		812,424
Templeton Foreign VIP Fund — Class 2 Shares		13,835		56,194
Templeton Global Bond VIP Fund — Class 1 Shares		42,069		300,861
Templeton Growth VIP Fund — Class 2 Shares		683,080		1,204,709
Goldman Sachs Variable Insurance Trust
Goldman Sachs Government Money Market Fund — Service Shares		119,597,788		121,701,931
Goldman Sachs Large Cap Value Fund — Institutional Shares		730,936		810,633
Goldman Sachs Mid Cap Value Fund — Institutional Shares		3,239,313		3,932,229

F-67

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


Fund/Portfolio	Cost of Shares Acquired		Proceeds from Shares Sold
Janus Aspen Series
Janus Henderson Balanced Portfolio — Institutional Shares	$	4,114,104	$	7,741,102
Janus Henderson Balanced Portfolio — Service Shares		6,758,493		15,226,934
Janus Henderson Enterprise Portfolio — Institutional Shares		3,445,693		5,595,637
Janus Henderson Enterprise Portfolio — Service Shares		421,098		464,026
Janus Henderson Flexible Bond Portfolio — Institutional Shares		961,070		1,536,876
Janus Henderson Forty Portfolio — Institutional Shares		5,550,006		5,732,273
Janus Henderson Forty Portfolio — Service Shares		2,523,069		3,387,932
Janus Henderson Global Research Portfolio — Institutional Shares		3,508,552		5,481,490
Janus Henderson Global Research Portfolio — Service Shares		244,371		667,116
Janus Henderson Global Technology and Innovation Portfolio — Service Shares		1,726,234		1,959,291
Janus Henderson Overseas Portfolio — Institutional Shares		740,571		2,236,501
Janus Henderson Overseas Portfolio — Service Shares		30,163		347,763
Janus Henderson Research Portfolio — Institutional Shares		3,919,214		7,919,453
Janus Henderson Research Portfolio — Service Shares		267,303		630,549
Legg Mason Partners Variable Equity Trust
ClearBridge Variable Dividend Strategy Portfolio — Class I		687,842		361,396
ClearBridge Variable Dividend Strategy Portfolio — Class II		1,622,115		1,740,679
ClearBridge Variable Growth Portfolio — Class II		410,038		348,499
ClearBridge Variable Large Cap Value Portfolio — Class I		1,644,766		2,141,358
Lincoln Variable Insurance Products Trust
LVIP American Century Disciplined Core Value Fund — Standard Class II		2,685		13,828
LVIP American Century Inflation Protection Fund — Service Class		3,281,904		4,308,093
LVIP American Century International Fund — Standard Class II		20,295		94,378
LVIP American Century Ultra^® Fund — Standard Class II		907		33,042
LVIP American Century Value Fund — Standard Class II		5,229		17,176
LVIP JPMorgan Core Bond Fund — Standard Class		107,514		259,313
LVIP JPMorgan Mid Cap Value Fund — Standard Class		37,561		61,929
LVIP JPMorgan Small Cap Core Fund — Standard Class		21,978		160,260
LVIP JPMorgan U.S. Equity Fund — Standard Class		581,306		87,958
MFS^® Variable Insurance Trust
MFS^® Investors Trust Series — Service Class Shares		1,437,570		726,475
MFS^® New Discovery Series — Service Class Shares		126,952		1,567,881
MFS^® Total Return Series — Service Class Shares		4,111,202		5,729,440
MFS^® Utilities Series — Service Class Shares		628,598		2,331,766
MFS^® Variable Insurance Trust II
MFS^® Income Portfolio — Service Class Shares		1,279		627
MFS^® Massachusetts Investors Growth Stock Portfolio — Service Class Shares		938,779		1,854,610
PIMCO Variable Insurance Trust
All Asset Portfolio — Advisor Class Shares		227,559		825,997
High Yield Portfolio — Administrative Class Shares		3,791,464		6,235,410
International Bond Portfolio (U.S. Dollar Hedged) — Administrative Class Shares		48,216		65,426
Long-Term U.S. Government Portfolio — Administrative Class Shares		8,080,311		8,928,006
Low Duration Portfolio — Administrative Class Shares		6,648,822		12,085,071
Total Return Portfolio — Administrative Class Shares		15,790,714		29,854,363
Rydex Variable Trust
NASDAQ — 100^® Fund		750,445		1,532,192

F-68

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


Fund/Portfolio	Cost of Shares Acquired		Proceeds from Shares Sold
State Street Variable Insurance Series Funds, Inc.
Income V.I.S. Fund — Class 1 Shares	$	1,159,509	$	2,175,608
Premier Growth Equity V.I.S. Fund — Class 1 Shares		5,080,853		5,852,404
Real Estate Securities V.I.S. Fund — Class 1 Shares		743,600		2,837,816
S&P 500^® Index V.I.S. Fund — Class 1 Shares		16,054,530		28,447,075
Small-Cap Equity V.I.S. Fund — Class 1 Shares		2,802,502		3,471,931
Total Return V.I.S. Fund — Class 1 Shares		72,176,144		99,516,005
Total Return V.I.S. Fund — Class 3 Shares		21,048,869		48,696,398
U.S. Equity V.I.S. Fund — Class 1 Shares		5,342,883		6,763,772
The Alger Portfolios
Alger Large Cap Growth Portfolio — Class I — 2 Shares		3,716,413		6,041,966
Alger Small Cap Growth Portfolio — Class I — 2 Shares		316,483		1,847,862
The Prudential Series Fund
PSF Mid-Cap Growth Portfolio — Class II Shares		—		15,551
PSF Natural Resources Portfolio — Class II Shares		98,947		4,275,195
PSF PGIM Jennison Blend Portfolio — Class II Shares		5,055,717		2,270,877
PSF PGIM Jennison Growth Portfolio — Class II Shares		37,769		1,207,187

(4)

Related Party Transactions

(a) GLAIC

Net purchase payments (premiums) transferred from GLAIC to the Separate Account represent gross premiums recorded by GLAIC on its flexible premium variable deferred and immediate annuity contracts, less deductions retained as compensation for premium taxes. For contracts issued on or after May 1, 1993, the deduction for premium taxes is deferred until the contracts are surrendered.

Some contracts permit contract owners to elect to allocate assets to a Guarantee Account that is part of the General Account of GLAIC. Amounts allocated to the Guarantee Account earn interest at the interest rate in effect at the time of such allocation or transfer. The interest rate remains in effect for a guaranteed period of time (at least a period of one year), after which a new rate may be declared. Contract owners may transfer amounts from the Guarantee Account to the subaccounts of the Separate Account and in certain instances transfer amounts from the subaccounts of the Separate Account to the Guarantee Account.

Generally, charges are assessed under the contracts to cover surrenders, certain administrative expenses, and the mortality and expense risks that GLAIC assumes, as well as any additional benefits provided under the contract such as optional benefits, as applicable. The surrender charges are assessed to cover certain expenses relating to the sale of a contract. The fees charged to cover administrative expenses and mortality and expense risk charges, as well as through certain electable rider options, are assessed through the daily unit value calculation. Those fees are assessed on the contract owner’s daily average net assets in the Separate Account. Other charges assessed to cover certain other administrative expenses, as well as certain optional riders, are assessed by the redemption of units. Note 6 presents the total charge percentage by unit in a range. The unit class may encompass multiple contracts through a combination of one or more electable rider options equal to the total amount assessed on a daily basis.

F-69

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025

The Separate Account assesses charges associated with the contracts issued. These charges are either assessed as a direct reduction in unit values or through a redemption of units for all contracts contained within the Separate Account.


Mortality and Expense Risk Charge (including benefit rider options) This charge is assessed through a reduction in unit values.		0.40% — 2.80% of the daily value of the assets invested in each Portfolio (fund).

Administrative Charge This charge is assessed through a reduction in unit values.		0.15% — 0.35% of the daily value of the assets invested in each fund.

Annual Administrative Charge This charge is assessed through a redemption in units.		$0 — $30 per contract year invested in each fund.

Surrender Charge This charge is assessed through a redemption in units.		0.00% — 9.00% on the value of the accumulation units purchased.

(b) Accrued Expenses Payable to Affiliate

Charges and deductions made under the contracts for services and benefits unpaid at year-end are accrued and payable to GLAIC.

(c) Bonus Credit

For certain contracts, transfers from the General Account for payments by GLAIC were paid in the form of bonus credits. Bonus credits are amounts that are added by GLAIC to the premium payments received from contract owners.

(d) Capital Brokerage Corporation

Capital Brokerage Corporation (“CBC”), an affiliate of GLAIC, is a Washington corporation registered with the SEC under the Securities Exchange Act of 1934 as a broker-dealer and is a member of the Financial Industry Regulatory Authority (“FINRA”). CBC serves as the distributor and principal underwriter for variable annuity contracts, variable life insurance policies, and certain guaranteed income annuity contracts issued by GLAIC. GLAIC pays commissions and other marketing related expenses to CBC. Certain officers and directors of GLAIC are also officers and directors of CBC.

(5)

Capital Transactions

All dividends and capital gain distributions of the Portfolios are automatically reinvested in shares of the distributing Portfolios at their net asset value on the date of distribution. In other words, Portfolio dividends or Portfolio distributions are not paid to contract owners as additional units, but instead are reflected in unit values.

The increase (decrease) in outstanding units and amounts by subaccount from capital transactions for the years ended December 31, 2025 and 2024 is reflected in the Statements of Changes in Net Assets.

(6)

Financial Highlights

GLAIC’s variable annuity products have unique combinations of features and fees that are assessed to the contract owner. Differences in fee structures result in a variety of contract expense rates, unit values, and total returns. A summary by type and by subaccount of the outstanding units, unit values, net assets, expense ratios, investment income ratios, and total return ratios for the years or lesser periods ended December 31, 2025, 2024, 2023, 2022, and 2021 follows. This information is presented as a range based upon product grouping. Expenses as a percent of average net assets are presented as a range of

F-70

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025

lowest to highest contract expense rate. The unit value and total return ranges are presented to correlate to the respective expense rate. Accordingly, some individual contract amounts may not be within the ranges presented due to the timing of the introduction of new funds.

Financial highlights are only disclosed for Portfolios that were available to contract owners as of December 31, 2025. Portfolios liquidated in the current year (see note 1) are not included.


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
AB Variable Products Series Fund, Inc.
AB VPS Balanced Hedged Allocation Portfolio — Class B
2025		1.45% to 2.95%		302,881		19.99 to 12.44		5,307		1.85%		15.66% to 13.90%
2024		1.45% to 2.95%		362,017		17.28 to 10.93		5,546		1.75%		6.99% to 5.36%
2023		1.45% to 2.95%		425,972		16.15 to 10.37		6,344		0.89%		11.03% to 9.34%
2022		1.45% to 2.95%		511,290		14.55 to 9.48		6,897		3.00%		(20.34)% to (21.55)%
2021		1.45% to 2.95%		585,455		18.26 to 12.09		9,952		0.25%		11.72% to 10.02%
AB VPS International Value Portfolio — Class B
2025		1.45% to 2.30%		1,019,988		16.92 to 12.52		16,861		3.11%		39.23% to 38.03%
2024		1.45% to 2.70%		423,324		12.15 to 10.87		4,617		0.94%		3.28% to 1.96%
2023		1.45% to 2.95%		2,423,553		11.77 to 10.54		19,542		1.10%		13.17% to 11.45%
2022		1.45% to 2.70%		559,485		10.40 to 9.54		5,264		1.58%		(15.04)% to (16.12)%
2021		1.45% to 2.95%		3,264,527		12.24 to 11.30		27,429		1.92%		9.25% to 7.59%
AB VPS Large Cap Growth Portfolio — Class B
2025		1.45% to 2.30%		255,174		90.00 to 59.51		11,836		0.00%		11.22% to 10.26%
2024		1.45% to 2.70%		302,509		80.93 to 19.73		12,610		0.00%		23.13% to 21.56%
2023		1.45% to 2.70%		361,174		65.72 to 16.23		12,295		0.00%		32.84% to 31.16%
2022		1.45% to 2.70%		401,192		49.48 to 12.38		10,428		0.00%		(29.72)% to (30.61)%
2021		1.45% to 2.70%		847,098		70.40 to 17.83		38,288		0.00%		26.79% to 25.18%
AB VPS Relative Value Portfolio — Class B
2025		1.15% to 2.30%		572,536		54.27 to 32.17		24,670		0.87%		8.93% to 7.67%
2024		1.15% to 2.70%		661,082		49.82 to 14.61		26,166		1.26%		11.46% to 9.70%
2023		1.15% to 2.70%		763,352		44.70 to 13.32		27,188		1.28%		10.44% to 8.71%
2022		1.15% to 2.70%		861,737		40.48 to 12.25		27,953		1.09%		(5.52)% to (6.99)%
2021		1.15% to 2.70%		998,243		42.84 to 13.17		34,408		0.62%		26.37% to 24.39%
AB VPS Small Cap Growth Portfolio — Class B
2025		1.45% to 1.95%		59,657		40.59 to 36.73		2,390		0.00%		2.94% to 2.41%
2024		1.45% to 2.70%		84,474		39.44 to 12.72		3,272		0.00%		16.72% to 15.23%
2023		1.45% to 2.70%		110,528		33.79 to 11.04		3,668		0.00%		16.02% to 14.56%
2022		1.45% to 2.70%		129,295		29.12 to 9.64		3,707		0.00%		(40.14)% to (40.90)%
2021		1.45% to 2.70%		137,125		48.65 to 16.31		6,571		0.00%		7.62% to 6.25%

F-71

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
AB VPS Sustainable Global Thematic Portfolio — Class B
2025		1.45% to 1.70%		44,133		37.71 to 20.11		1,537		0.00%		4.49% to 4.22%
2024		1.45% to 1.70%		50,008		36.09 to 19.29		1,680		0.00%		4.41% to 4.15%
2023		1.45% to 1.70%		56,240		34.57 to 18.52		1,807		0.03%		14.03% to 13.74%
2022		1.45% to 1.70%		61,187		30.31 to 16.28		1,735		0.00%		(28.22)% to (28.41)%
2021		1.45% to 1.70%		68,663		42.23 to 22.74		2,731		0.00%		20.80% to 20.49%
AIM Variable Insurance Funds (Invesco Variable Insurance Funds)
Invesco V.I. American Franchise Fund — Series I shares
2025		0.75% to 1.95%		140,814		56.13 to 46.91		7,057		0.00%		10.83% to 9.49%
2024		0.75% to 2.70%		178,111		50.65 to 19.82		8,091		0.00%		33.87% to 31.23%
2023		0.75% to 2.70%		209,934		37.83 to 15.11		7,173		0.00%		39.87% to 37.14%
2022		0.75% to 2.70%		225,066		27.05 to 11.02		5,537		0.00%		(31.63)% to (32.97)%
2021		0.75% to 2.70%		266,290		39.56 to 16.43		9,679		0.00%		11.09% to 8.90%
Invesco V.I. American Franchise Fund — Series II shares
2025		1.45% to 1.85%		53,918		78.07 to 58.80		3,516		0.00%		9.77% to 9.33%
2024		1.45% to 1.85%		62,463		71.12 to 53.78		3,684		0.00%		32.60% to 32.06%
2023		1.45% to 1.70%		72,282		53.64 to 39.01		3,208		0.00%		38.57% to 38.22%
2022		1.45% to 1.70%		83,441		38.71 to 28.22		2,669		0.00%		(32.29)% to (32.46)%
2021		1.45% to 1.70%		98,756		57.17 to 41.78		4,725		0.00%		10.03% to 9.75%
Invesco V.I. American Value Fund — Series II shares
2025		1.45% to 2.30%		715,588		17.42 to 16.73		12,427		0.22%		19.01% to 17.98%
2024		1.45% to 2.30%		780,259		14.63 to 14.18		11,394		0.80%		28.20% to 27.09%
2023		1.45% to 2.30%		774,850		11.42 to 11.15		8,830		0.40%		13.62% to 12.65%
2022		1.45% to 2.30%		745,062		10.05 to 9.90		7,477		0.49%		(4.27)% to (5.09)%
2021 (4)		1.45% to 2.30%		651,151		10.49 to 10.43		6,830		0.25%		4.95% to 4.34%
Invesco V.I. Comstock Fund — Series II shares
2025		1.45% to 2.95%		1,078,581		58.42 to 17.89		46,264		1.49%		15.44% to 13.69%
2024		1.45% to 2.95%		1,130,020		50.61 to 15.74		42,730		1.40%		13.19% to 11.46%
2023		1.45% to 2.95%		1,472,865		44.71 to 14.12		47,705		1.90%		10.47% to 8.80%
2022		1.45% to 2.70%		846,530		40.47 to 13.09		29,319		1.28%		(0.61)% to (1.87)%
2021		1.45% to 2.70%		1,122,231		40.72 to 13.34		39,839		1.82%		31.12% to 29.45%
Invesco V.I. Core Equity Fund — Series I shares
2025		1.45% to 2.95%		1,953,635		39.53 to 18.55		64,576		0.67%		14.48% to 12.74%
2024		1.45% to 2.95%		2,026,932		34.53 to 16.46		58,784		1.19%		23.78% to 21.88%
2023		1.45% to 2.45%		174,148		27.89 to 23.29		4,733		0.09%		21.58% to 20.35%
2022		1.45% to 2.95%		3,693,775		22.94 to 11.28		71,306		0.86%		(21.70)% to (22.89)%
2021		1.45% to 2.95%		4,320,745		29.30 to 14.62		107,031		1.12%		25.89% to 23.97%

F-72

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
Invesco V.I. Core Plus Bond Fund — Series I shares
2025		1.15% to 1.60%		441,220		10.69 to 10.51		4,670		4.25%		5.86% to 5.38%
2024		1.15% to 1.60%		499,478		10.10 to 9.98		5,008		3.66%		1.86% to 1.40%
2023		1.15% to 1.60%		540,813		9.91 to 9.84		5,337		2.58%		4.92% to 4.45%
2022 (5)		1.15% to 1.60%		570,227		9.45 to 9.42		5,377		0.86%		(5.53)% to (5.82)%
Invesco V.I. Discovery Large Cap Fund — Series I shares
2025		1.15% to 1.60%		176,022		314.94 to 55.37		24,263		0.00%		11.50% to 11.00%
2024		1.15% to 1.60%		212,383		282.45 to 49.88		26,226		0.00%		32.61% to 32.01%
2023		1.15% to 1.60%		239,418		213.00 to 37.79		23,296		0.00%		33.82% to 33.22%
2022		1.15% to 1.60%		265,129		159.16 to 28.36		19,235		0.00%		(31.58)% to (31.89)%
2021		1.15% to 1.60%		290,608		232.62 to 41.64		30,665		0.00%		21.16% to 20.61%
Invesco V.I. Discovery Large Cap Fund — Series II Shares
2025		1.45% to 2.70%		151,933		66.63 to 21.59		9,569		0.00%		10.90% to 9.50%
2024		1.45% to 2.70%		182,809		60.08 to 19.72		10,449		0.00%		31.88% to 30.20%
2023		1.45% to 2.70%		206,488		45.56 to 15.14		8,860		0.00%		33.08% to 31.40%
2022		1.45% to 2.70%		205,836		34.24 to 11.52		6,625		0.00%		(31.96)% to (32.83)%
2021		1.45% to 2.70%		246,907		50.32 to 17.16		11,799		0.00%		20.51% to 18.98%
Invesco V.I. Discovery Mid Cap Growth Fund — Series I shares
2025		1.15% to 1.60%		164,955		202.76 to 39.38		19,316		0.00%		3.58% to 3.12%
2024		1.15% to 1.60%		180,940		195.75 to 38.19		20,636		0.00%		22.79% to 22.24%
2023		1.15% to 1.60%		202,220		159.41 to 31.24		18,492		0.00%		11.85% to 11.35%
2022		1.15% to 1.60%		225,781		142.52 to 28.06		18,568		0.00%		(31.78)% to (32.08)%
2021		1.15% to 1.60%		255,884		208.90 to 41.31		30,780		0.00%		17.73% to 17.20%
Invesco V.I. Discovery Mid Cap Growth Fund — Series II shares
2025		1.45% to 1.70%		112,976		55.30 to 52.02		6,141		0.00%		3.02% to 2.76%
2024		1.45% to 1.70%		132,841		53.68 to 50.62		7,019		0.00%		22.12% to 21.80%
2023		1.45% to 1.70%		155,771		43.96 to 41.56		6,727		0.00%		11.22% to 10.94%
2022		1.45% to 1.70%		156,762		39.52 to 37.46		6,091		0.00%		(32.13)% to (32.30)%
2021		1.45% to 1.70%		201,921		58.23 to 55.34		11,546		0.00%		17.07% to 16.77%
Invesco V.I. EQV International Equity Fund — Series II shares
2025		1.45% to 2.95%		1,137,532		26.92 to 11.86		20,652		1.15%		14.55% to 12.80%
2024		1.45% to 2.95%		1,369,831		23.50 to 10.51		21,678		2.14%		-1.12% to (2.63)%
2023		1.45% to 2.30%		463,577		23.77 to 17.68		9,383		0.00%		16.16% to 15.16%
2022		1.45% to 2.70%		506,409		20.46 to 9.52		8,822		1.41%		(19.68)% to (20.70)%
2021		1.45% to 2.70%		573,173		25.48 to 12.01		12,521		1.08%		4.07% to 2.75%
Invesco V.I. Equity and Income Fund — Series I shares
2025		1.15% to 1.60%		490,847		11.88 to 11.79		5,813		2.04%		11.51% to 11.01%
2024		1.15% to 1.60%		580,081		10.65 to 10.62		6,171		1.76%		6.52% to 6.20%

F-73

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
Invesco V.I. Equity and Income Fund — Series II shares
2025		1.45% to 2.95%		941,188		26.77 to 14.46		22,093		1.83%		10.89% to 9.20%
2024		1.45% to 2.95%		1,086,564		24.14 to 13.25		23,122		1.76%		10.28% to 8.59%
2023		1.45% to 2.95%		673,394		21.89 to 12.20		13,063		1.05%		8.64% to 7.00%
2022		1.45% to 2.95%		1,345,395		20.15 to 11.40		25,524		1.81%		(9.05)% to (10.43)%
2021		1.45% to 2.95%		825,869		22.15 to 12.73		16,402		1.55%		16.64% to 14.86%
Invesco V.I. Global Fund — Series II shares
2025		1.45% to 2.35%		639,035		68.56 to 28.23		27,362		0.00%		13.35% to 12.31%
2024		1.45% to 2.70%		752,374		60.49 to 14.40		28,517		0.00%		14.10% to 12.64%
2023		1.45% to 2.70%		875,626		53.01 to 12.79		29,136		0.00%		32.50% to 30.83%
2022		1.45% to 2.70%		1,056,272		40.01 to 9.77		26,579		0.00%		(32.92)% to (33.77)%
2021		1.45% to 2.70%		1,403,987		59.65 to 14.76		56,905		0.00%		13.50% to 12.06%
Invesco V.I. Global Real Estate Fund — Series II shares
2025		1.45% to 1.95%		2,804		16.64 to 14.98		46		1.56%		6.05% to 5.51%
2024		1.45% to 2.70%		14,431		15.69 to 7.82		182		2.42%		(3.54)% to (4.77)%
2023		1.45% to 1.45%		2,237		16.27 to 16.27		36		1.28%		7.25% to 7.25%
2022		1.45% to 1.45%		2,091		15.17 to 15.17		32		2.60%		(26.23)% to (26.23)%
2021		1.45% to 1.45%		1,929		20.56 to 20.56		40		1.94%		23.63% to 23.63%
Invesco V.I. Global Strategic Income Fund — Series I shares
2025		1.15% to 1.60%		119,475		11.81 to 11.12		1,368		5.69%		11.68% to 11.18%
2024		1.15% to 1.60%		138,323		10.57 to 10.00		1,420		3.02%		1.96% to 1.50%
2023		1.15% to 1.60%		153,242		10.37 to 9.86		1,548		0.00%		7.63% to 7.15%
2022		1.15% to 1.60%		172,835		9.63 to 9.20		1,626		0.00%		(12.48)% to (12.87)%
2021		1.15% to 1.60%		195,809		11.01 to 10.56		2,108		4.59%		(4.52)% to (4.96)%
Invesco V.I. Government Securities Fund — Series I shares
2025		0.75% to 0.75%		—		18.33 to 18.33		—		0.00%		6.56% to 6.56%
2024		0.75% to 0.75%		—		17.20 to 17.20		—		0.00%		0.95% to 0.95%
2023		0.75% to 0.75%		—		17.04 to 17.04		—		0.00%		3.84% to 3.84%
2022		0.75% to 0.75%		—		16.41 to 16.41		—		0.00%		(10.96)% to (10.96)%
2021		0.75% to 0.75%		—		18.43 to 18.43		—		0.00%		(3.00)% to (3.00)%
Invesco V.I. Main Street Fund^® — Series II shares
2025		1.45% to 2.95%		2,064,873		60.79 to 17.86		77,352		0.30%		13.96% to 12.23%
2024		1.45% to 2.95%		2,472,407		53.34 to 15.92		81,455		0.00%		21.59% to 19.73%
2023		1.45% to 2.45%		444,984		43.87 to 25.65		13,813		0.15%		21.05% to 19.83%
2022		1.45% to 2.95%		3,362,880		36.24 to 11.15		75,688		0.97%		(21.46)% to (22.66)%
2021		1.45% to 2.95%		4,459,194		46.14 to 14.42		128,165		0.84%		25.39% to 23.48%

F-74

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
Invesco V.I. Main Street Small Cap Fund^® — Series II shares
2025		1.45% to 2.95%		523,829		69.34 to 15.89		22,756		0.23%		6.87% to 5.24%
2024		1.45% to 2.95%		603,318		64.88 to 15.10		24,603		0.00%		10.77% to 9.07%
2023		1.45% to 2.70%		235,777		58.58 to 14.01		11,796		0.92%		16.12% to 14.65%
2022		1.45% to 2.70%		259,369		50.45 to 12.22		11,249		0.24%		(17.26)% to (18.31)%
2021		1.45% to 2.70%		305,034		60.97 to 14.95		16,198		0.12%		20.49% to 18.96%
Invesco V.I. Technology Fund — Series I shares
2025		0.75% to 0.75%		—		22.28 to 22.28		—		0.00%		19.56% to 19.56%
2024		0.75% to 0.75%		—		18.64 to 18.64		—		0.00%		33.26% to 33.26%
2023		0.75% to 0.75%		—		13.98 to 13.98		—		0.00%		45.85% to 45.85%
2022		0.75% to 0.75%		—		9.59 to 9.59		—		0.00%		(40.40)% to (40.40)%
2021		0.75% to 0.75%		—		16.09 to 16.09		—		0.00%		13.55% to 13.55%
Advanced Series Trust
AST International Equity Portfolio — Class I Shares
2025		1.55% to 1.55%		—		15.14 to 15.14		—		0.00%		30.78% to 30.78%
2024		1.55% to 1.55%		—		11.57 to 11.57		—		0.00%		3.82% to 3.82%
2023 (6)		1.55% to 1.55%		—		11.15 to 11.15		—		0.00%		11.49% to 11.49%
Allspring Variable Trust
Allspring VT Discovery All Cap Growth Fund — Class 2
2025		1.45% to 1.95%		36,225		60.54 to 55.96		2,177		0.00%		13.60% to 13.02%
2024		1.45% to 1.95%		44,290		53.29 to 49.51		2,345		0.00%		19.24% to 18.63%
2023		1.45% to 1.95%		51,692		44.69 to 41.74		2,296		0.00%		31.24% to 30.58%
2022		1.45% to 1.95%		64,087		34.05 to 31.96		2,166		0.00%		(38.11)% to (38.42)%
2021		1.45% to 1.95%		69,207		55.02 to 51.91		3,781		0.00%		13.30% to 12.73%
BNY Mellon
BNY Mellon Investment Portfolios — MidCap Stock Portfolio — Initial Shares
2025		1.45% to 1.95%		2,390		52.92 to 35.71		124		0.71%		8.47% to 7.92%
2024		1.45% to 2.70%		7,408		48.79 to 14.18		256		0.36%		10.97% to 9.56%
2023		1.45% to 1.45%		2,418		43.96 to 43.96		106		0.79%		16.60% to 16.60%
2022		1.45% to 1.45%		2,595		37.70 to 37.70		98		0.73%		(15.32)% to (15.32)%
2021		1.45% to 1.45%		2,730		44.52 to 44.52		122		0.62%		24.06% to 24.06%
BNY Mellon Sustainable U.S. Equity Portfolio, Inc. — Initial Shares
2025		1.50% to 1.70%		323,000		31.71 to 30.11		10,256		0.25%		14.23% to 14.00%
2024		1.50% to 1.70%		359,303		27.76 to 26.41		9,977		0.52%		23.01% to 22.76%
2023		1.45% to 2.70%		405,110		47.85 to 14.69		9,357		0.67%		22.03% to 20.49%
2022		1.50% to 1.70%		390,488		18.50 to 17.68		7,231		0.52%		(24.03)% to (24.18)%
2021		1.50% to 1.70%		393,232		24.36 to 23.32		9,587		0.75%		25.09% to 24.84%

F-75

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
BNY Mellon Variable Investment Fund — Government Money Market Portfolio
2025		1.45% to 2.05%		96,383		10.00 to 8.91		954		3.86%		2.42% to 1.80%
2024		1.45% to 2.70%		118,814		9.76 to 9.64		1,149		4.49%		3.24% to 1.92%
2023		1.45% to 2.70%		194,703		9.46 to 9.46		1,827		4.29%		3.08% to 1.78%
2022		1.45% to 2.20%		308,810		9.17 to 8.04		2,817		1.17%		(0.20)% to (0.96)%
2021		1.45% to 2.05%		333,901		9.19 to 8.40		2,945		0.01%		(1.44)% to (2.04)%
BlackRock Variable Series Funds, Inc.
BlackRock Advantage SMID Cap V.I. Fund — Class III Shares
2025		1.45% to 2.30%		60,250		42.62 to 31.12		2,473		0.77%		9.27% to 8.33%
2024		1.45% to 2.30%		254,507		39.00 to 28.73		9,811		1.40%		10.08% to 9.12%
2023		1.45% to 2.30%		282,976		35.43 to 26.32		9,889		5.00%		16.92% to 15.91%
2022		1.45% to 2.30%		106,880		30.31 to 22.71		3,127		1.71%		(17.88)% to (18.59)%
2021		1.45% to 2.30%		110,260		36.91 to 27.90		3,939		1.08%		11.71% to 10.74%
BlackRock Basic Value V.I. Fund — Class III Shares
2025		1.45% to 2.30%		368,329		40.14 to 32.13		14,133		1.87%		22.24% to 21.19%
2024		1.45% to 2.45%		400,435		32.84 to 22.98		12,549		1.10%		8.45% to 7.34%
2023		1.45% to 2.95%		1,079,668		30.28 to 12.95		26,999		1.51%		14.56% to 12.82%
2022		1.45% to 2.95%		1,190,327		26.43 to 11.48		25,884		1.02%		(6.50)% to (7.92)%
2021		1.45% to 2.95%		1,543,677		28.27 to 12.46		33,905		1.73%		19.58% to 17.76%
BlackRock Global Allocation V.I. Fund — Class III Shares
2025		1.45% to 2.95%		5,084,798		29.70 to 13.82		107,209		3.93%		17.78% to 15.99%
2024		1.45% to 2.95%		6,191,069		25.22 to 11.91		111,722		1.37%		7.34% to 5.70%
2023		1.45% to 2.95%		7,342,232		23.49 to 11.27		123,793		2.36%		10.86% to 9.18%
2022		1.45% to 2.95%		8,575,956		21.19 to 10.32		131,161		0.00%		(17.29)% to (18.55)%
2021		1.45% to 2.95%		10,019,147		25.62 to 12.67		186,114		0.81%		4.87% to 3.28%
BlackRock Large Cap Focus Growth V.I. Fund — Class III Shares
2025		1.45% to 1.85%		133,164		70.94 to 64.96		9,307		0.00%		9.87% to 9.42%
2024		1.45% to 1.85%		148,163		64.57 to 59.36		9,439		0.00%		29.47% to 28.95%
2023		1.45% to 1.95%		200,613		49.87 to 44.59		9,693		0.00%		50.27% to 49.51%
2022		1.45% to 1.95%		213,216		33.19 to 29.82		6,870		0.00%		(39.15)% to (39.46)%
2021		1.45% to 1.95%		268,008		54.54 to 49.26		14,206		0.00%		16.07% to 15.48%

F-76

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
Columbia Funds Variable Series Trust II
CTIVP^® — Principal Large Cap Growth Fund — Class 1
2025		1.45% to 2.30%		758,107		34.03 to 31.30		25,681		0.00%		12.13% to 11.16%
2024		1.45% to 2.70%		896,006		30.35 to 17.52		27,066		0.00%		19.65% to 18.12%
2023		1.45% to 2.95%		4,066,222		25.37 to 14.67		99,733		0.00%		37.52% to 35.44%
2022		1.45% to 2.95%		3,046,910		18.44 to 10.83		54,288		0.00%		(29.05)% to (30.13)%
2021		1.45% to 2.95%		923,961		26.00 to 15.50		23,666		0.00%		16.85% to 15.08%
Columbia Variable Portfolio — Overseas Core Fund — Class 2
2025		1.45% to 2.30%		446,046		18.80 to 17.29		8,303		1.78%		35.86% to 34.69%
2024		1.45% to 2.45%		540,286		13.84 to 12.67		7,402		5.83%		1.73% to 0.70%
2023		1.45% to 2.95%		1,755,675		13.61 to 11.18		23,411		1.71%		13.66% to 11.93%
2022		1.45% to 2.95%		2,001,678		11.97 to 9.99		23,540		0.70%		(16.13)% to (17.41)%
2021		1.45% to 2.95%		1,837,093		14.27 to 12.10		25,853		0.86%		8.15% to 6.51%
Deutsche DWS Variable Series II
DWS Small Mid Cap Value VIP — Class B Shares
2025		1.45% to 2.70%		5,620		53.84 to 13.65		143		0.05%		16.14% to 14.67%
2024		1.45% to 2.05%		270		46.36 to 23.38		11		0.81%		4.25% to 3.61%
2023		1.45% to 2.05%		289		44.47 to 22.56		11		0.79%		12.93% to 12.25%
2022		1.45% to 2.05%		309		39.38 to 20.10		10		0.47%		(17.35)% to (17.86)%
2021		1.45% to 2.05%		324		47.64 to 24.47		12		0.87%		28.16% to 27.38%
Eaton Vance Variable Trust
VT Floating-Rate Income Fund
2025		1.45% to 2.95%		1,065,704		16.97 to 10.77		16,307		6.71%		2.45% to 0.89%
2024		1.45% to 2.95%		1,212,965		16.56 to 10.67		18,181		7.88%		6.11% to 4.49%
2023		1.45% to 2.95%		1,565,515		15.61 to 10.21		22,460		8.17%		9.60% to 7.94%
2022		1.45% to 2.95%		1,744,103		14.24 to 9.46		22,824		4.41%		(4.14)% to (5.60)%
2021		1.45% to 2.95%		1,769,406		14.85 to 10.02		25,112		2.91%		2.12% to 0.57%
Federated Hermes Insurance Series
Federated Hermes High Income Bond Fund II — Primary Shares
2025		1.15% to 1.60%		107,886		49.23 to 27.11		3,814		6.11%		6.98% to 6.50%
2024		1.15% to 1.60%		128,451		46.01 to 25.46		4,283		5.56%		5.04% to 4.56%
2023		1.15% to 1.60%		147,569		43.81 to 24.35		4,759		5.97%		11.42% to 10.92%
2022		1.15% to 1.60%		166,136		39.32 to 21.95		4,833		5.75%		(12.79)% to (13.19)%
2021		1.15% to 1.60%		208,374		45.08 to 25.28		6,975		4.97%		3.64% to 3.17%
Federated Hermes High Income Bond Fund II — Service Shares
2025		1.45% to 2.30%		174,849		28.31 to 20.00		4,865		5.97%		6.62% to 5.70%
2024		1.45% to 2.30%		199,471		26.55 to 18.92		5,224		5.35%		4.31% to 3.41%
2023		1.45% to 2.30%		218,238		25.46 to 18.30		5,485		5.80%		10.84% to 9.89%
2022		1.45% to 2.30%		254,766		22.97 to 16.65		5,776		5.65%		(13.19)% to (13.94)%
2021		1.45% to 2.30%		311,754		26.46 to 19.35		8,155		4.76%		2.93% to 2.04%

F-77

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
Federated Hermes Kaufmann Fund II — Service Shares
2025		1.45% to 2.95%		617,445		61.50 to 11.78		22,706		0.00%		9.65% to 7.98%
2024		1.45% to 2.95%		709,074		56.09 to 10.91		23,690		0.40%		15.08% to 13.31%
2023		1.45% to 2.70%		237,555		48.74 to 9.74		10,372		0.00%		13.20% to 11.77%
2022		1.45% to 2.95%		976,228		43.06 to 8.64		24,832		0.00%		(31.27)% to (32.31)%
2021		1.45% to 2.95%		518,125		62.64 to 12.76		23,716		0.00%		0.78% to (0.75)%
Federated Hermes Managed Volatility Fund II — Primary Shares
2025		1.15% to 1.60%		211,145		44.29 to 20.56		6,287		2.95%		5.80% to 5.33%
2024		1.15% to 1.60%		237,133		41.86 to 19.52		6,646		2.28%		14.22% to 13.70%
2023		1.15% to 1.60%		263,975		36.65 to 17.17		6,636		1.92%		7.44% to 6.95%
2022		1.15% to 1.60%		292,743		34.11 to 16.05		6,909		1.91%		(14.75)% to (15.13)%
2021		1.15% to 1.60%		315,605		40.01 to 18.92		8,820		1.80%		17.15% to 16.62%
Fidelity^® Variable Insurance Products Fund
VIP Asset Manager 50% Portfolio — Initial Class
2025		1.15% to 1.60%		332,876		86.15 to 26.42		25,878		2.40%		13.66% to 13.15%
2024		1.15% to 1.60%		394,524		75.80 to 23.35		26,661		2.37%		7.24% to 6.76%
2023		1.15% to 1.60%		439,966		70.68 to 21.87		27,683		2.24%		11.65% to 11.15%
2022		1.15% to 1.60%		514,019		63.31 to 19.68		28,713		1.98%		(15.91)% to (16.29)%
2021		1.15% to 1.60%		583,068		75.29 to 23.51		38,580		1.58%		8.66% to 8.16%
VIP Asset Manager 50% Portfolio — Service Class 2
2025		1.45% to 2.30%		161,255		26.24 to 21.48		3,955		2.21%		12.99% to 12.01%
2024		1.45% to 2.30%		203,936		23.23 to 19.18		4,432		2.46%		6.66% to 5.73%
2023		1.45% to 2.30%		191,607		21.78 to 18.14		3,904		2.08%		11.02% to 10.07%
2022		1.45% to 2.70%		215,325		19.62 to 10.27		3,944		1.81%		(16.38)% to (17.44)%
2021		1.45% to 2.70%		239,303		23.46 to 12.44		5,243		1.37%		8.09% to 6.72%
VIP Balanced Portfolio — Service Class 2
2025		1.45% to 2.95%		1,653,970		37.51 to 16.85		52,088		1.54%		13.29% to 11.57%
2024		1.45% to 2.95%		1,890,726		33.11 to 15.10		52,811		1.65%		13.94% to 12.20%
2023		1.45% to 2.95%		2,146,854		29.06 to 13.46		53,131		1.51%		19.48% to 17.67%
2022		1.45% to 2.95%		2,519,719		24.32 to 11.44		52,461		1.02%		(19.37)% to (20.60)%
2021		1.45% to 2.95%		2,931,945		30.16 to 14.41		76,574		0.72%		16.28% to 14.51%
VIP Contrafund^® Portfolio — Initial Class
2025		1.15% to 1.60%		652,640		268.86 to 83.54		107,823		0.14%		20.08% to 19.54%
2024		1.15% to 1.60%		754,010		223.90 to 69.88		103,679		0.18%		32.24% to 31.64%
2023		1.15% to 1.60%		880,568		169.31 to 53.09		91,969		0.48%		31.92% to 31.33%
2022		1.15% to 1.60%		995,504		128.34 to 40.42		78,297		0.49%		(27.16)% to (27.49)%
2021		1.15% to 1.60%		1,129,797		176.19 to 55.75		121,184		0.06%		26.37% to 25.79%

F-78

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
VIP Contrafund^® Portfolio — Service Class 2
2025		1.45% to 2.95%		2,223,936		100.21 to 23.29		133,036		0.00%		19.44% to 17.62%
2024		1.45% to 2.95%		2,697,811		83.90 to 19.80		134,192		0.03%		31.50% to 29.49%
2023		1.45% to 2.95%		3,565,783		63.80 to 15.29		132,698		0.32%		31.19% to 29.20%
2022		1.45% to 2.95%		2,153,195		48.63 to 11.83		70,113		0.27%		(27.55)% to (28.65)%
2021		1.45% to 2.95%		2,032,242		67.13 to 16.58		100,263		0.03%		25.66% to 23.75%
VIP Dynamic Capital Appreciation Portfolio — Service Class 2
2025		1.45% to 1.70%		22,061		85.83 to 81.03		1,856		0.42%		16.77% to 16.48%
2024		1.45% to 1.70%		23,344		73.51 to 69.57		1,682		0.05%		23.37% to 23.05%
2023		1.45% to 1.70%		27,023		59.58 to 56.54		1,574		0.12%		26.86% to 26.54%
2022		1.45% to 1.70%		31,291		46.97 to 25.51		1,418		0.10%		(22.19)% to (22.39)%
2021		1.45% to 1.70%		35,238		60.36 to 57.57		2,076		0.11%		22.47% to 22.16%
VIP Equity-Income Portfolio^SM— Initial Class
2025		1.15% to 1.60%		491,919		210.40 to 40.24		62,804		1.75%		17.65% to 17.12%
2024		1.15% to 1.60%		565,043		178.83 to 34.36		60,958		1.71%		14.01% to 13.50%
2023		1.15% to 1.60%		694,060		156.86 to 30.27		62,223		1.86%		9.38% to 8.89%
2022		1.15% to 1.60%		778,564		143.41 to 27.80		63,993		1.83%		(6.05)% to (6.47)%
2021		1.15% to 1.60%		858,919		152.64 to 29.72		75,265		1.86%		23.46% to 22.90%
VIP Equity-Income Portfolio^SM— Service Class 2
2025		1.45% to 2.30%		780,659		50.78 to 31.27		31,254		1.60%		17.03% to 16.02%
2024		1.45% to 2.70%		910,695		43.39 to 14.93		31,027		1.51%		13.38% to 11.93%
2023		1.45% to 2.70%		1,086,286		38.27 to 13.34		32,705		1.38%		8.78% to 7.41%
2022		1.45% to 2.95%		1,950,726		35.18 to 12.31		49,057		1.83%		(6.62)% to (8.03)%
2021		1.45% to 2.95%		1,737,852		37.67 to 13.38		49,553		1.04%		22.80% to 20.93%
VIP Growth & Income Portfolio — Initial Class
2025		1.15% to 1.60%		201,697		89.92 to 46.85		14,191		1.49%		20.11% to 19.56%
2024		1.15% to 1.60%		247,296		74.87 to 39.19		14,248		1.37%		20.80% to 20.25%
2023		1.15% to 1.60%		298,303		61.98 to 32.59		14,150		1.61%		17.36% to 16.83%
2022		1.15% to 1.60%		339,362		52.81 to 27.89		13,759		1.58%		(6.04)% to (6.46)%
2021		1.15% to 1.60%		395,914		56.21 to 29.82		17,190		2.31%		24.50% to 23.94%
VIP Growth & Income Portfolio — Service Class 2
2025		1.45% to 1.95%		250,433		61.47 to 48.73		11,752		1.31%		19.45% to 18.85%
2024		1.45% to 1.95%		324,219		51.46 to 41.01		12,667		1.23%		20.18% to 19.57%
2023		1.45% to 1.95%		366,467		42.81 to 34.29		11,882		1.45%		16.65% to 16.06%
2022		1.45% to 1.95%		405,584		36.70 to 29.55		11,229		1.28%		(6.55)% to (7.02)%
2021		1.45% to 1.95%		533,883		39.27 to 31.78		16,128		2.15%		23.82% to 23.19%

F-79

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
VIP Growth Opportunities Portfolio — Initial Class
2025		1.15% to 1.60%		172,309		126.16 to 71.02		16,739		0.00%		20.55% to 20.00%
2024		1.15% to 1.60%		191,633		104.65 to 59.18		15,507		0.00%		37.28% to 36.66%
2023		1.15% to 1.60%		232,194		76.23 to 43.30		13,636		0.00%		43.98% to 43.33%
2022		1.15% to 1.60%		289,360		52.95 to 30.21		12,362		0.00%		(38.86)% to (39.14)%
2021		1.15% to 1.60%		321,928		86.60 to 49.64		22,280		0.00%		10.65% to 10.15%
VIP Growth Opportunities Portfolio — Service Class 2
2025		1.45% to 2.20%		96,913		86.46 to 77.74		8,286		0.00%		19.87% to 18.96%
2024		1.45% to 2.70%		117,954		72.13 to 22.13		8,379		0.00%		36.54% to 34.80%
2023		1.45% to 2.70%		137,719		52.83 to 16.42		7,165		0.00%		43.20% to 41.40%
2022		1.45% to 2.70%		161,283		36.89 to 11.61		5,862		0.00%		(39.21)% to (39.98)%
2021		1.45% to 2.70%		221,009		60.68 to 19.35		13,219		0.00%		10.05% to 8.65%
VIP Growth Portfolio — Initial Class
2025		1.15% to 1.60%		331,576		433.26 to 64.40		73,209		0.29%		13.58% to 13.07%
2024		1.15% to 1.60%		373,940		381.46 to 56.95		71,919		0.00%		28.88% to 28.30%
2023		1.15% to 1.60%		419,184		295.99 to 44.39		62,994		0.13%		34.68% to 34.07%
2022		1.15% to 1.60%		491,163		219.78 to 33.11		54,130		0.62%		(25.32)% to (25.66)%
2021		1.15% to 1.60%		581,242		294.31 to 44.54		82,131		0.00%		21.80% to 21.25%
VIP Growth Portfolio — Service Class 2
2025		1.45% to 2.20%		317,364		99.57 to 69.73		17,539		0.05%		12.95% to 12.09%
2024		1.45% to 2.20%		381,973		88.16 to 62.21		18,670		0.00%		28.18% to 27.20%
2023		1.45% to 2.20%		426,973		68.78 to 48.91		16,223		0.00%		33.93% to 32.91%
2022		1.45% to 2.30%		471,888		51.36 to 35.43		13,442		0.37%		(25.74)% to (26.38)%
2021		1.45% to 2.30%		531,475		69.15 to 48.12		20,672		0.00%		21.12% to 20.08%
VIP Investment Grade Bond Portfolio — Service Class 2
2025		1.45% to 2.95%		3,464,255		13.76 to 9.14		44,876		3.37%		5.38% to 3.78%
2024		1.45% to 2.95%		3,982,304		13.06 to 8.81		49,101		4.50%		0.02% to (1.51)%
2023		1.45% to 2.95%		1,706,872		13.06 to 8.94		21,316		1.67%		4.47% to 2.88%
2022		1.45% to 2.95%		3,365,612		12.50 to 8.69		39,972		1.74%		(14.47)% to (15.77)%
2021		1.45% to 2.95%		4,924,558		14.61 to 10.32		68,538		1.80%		(2.33)% to (3.82)%
VIP Mid Cap Portfolio — Initial Class
2025		0.75% to 0.75%		—		93.33 to 93.33		—		0.00%		10.92% to 10.92%
2024		0.75% to 0.75%		—		84.14 to 84.14		—		0.00%		16.61% to 16.61%
2023		0.75% to 0.75%		—		72.16 to 72.16		—		0.00%		14.22% to 14.22%
2022		0.75% to 0.75%		—		63.18 to 63.18		—		0.00%		(15.38)% to (15.38)%
2021		0.75% to 0.75%		—		74.66 to 74.66		—		0.00%		24.66% to 24.66%
VIP Mid Cap Portfolio — Service Class 2
2025		1.15% to 2.70%		654,272		86.46 to 16.55		45,185		0.20%		10.21% to 8.48%
2024		1.15% to 2.95%		1,245,667		78.45 to 15.04		64,978		0.36%		15.82% to 13.70%
2023		1.15% to 2.30%		944,683		67.74 to 29.15		52,240		0.33%		13.49% to 12.17%
2022		1.15% to 2.70%		1,235,335		59.69 to 11.98		61,536		0.28%		(15.94)% to (17.26)%
2021		1.15% to 2.70%		1,094,199		71.01 to 14.48		63,111		0.32%		23.87% to 21.92%

F-80

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
VIP Overseas Portfolio — Initial Class
2025		1.15% to 1.60%		204,637		72.03 to 25.19		9,895		1.59%		19.01% to 18.47%
2024		1.15% to 1.60%		223,312		60.53 to 21.26		8,963		1.59%		3.83% to 3.37%
2023		1.15% to 1.60%		253,066		58.29 to 20.57		9,688		1.02%		19.12% to 18.59%
2022		1.15% to 1.60%		281,147		48.93 to 17.34		9,106		1.04%		(25.35)% to (25.69)%
2021		1.15% to 1.60%		303,483		65.55 to 23.34		13,167		0.51%		18.32% to 17.79%
VIP Value Strategies Portfolio — Service Class 2
2025		1.45% to 1.70%		55,599		42.49 to 28.86		2,311		0.80%		6.14% to 5.87%
2024		1.45% to 1.70%		64,750		40.03 to 27.26		2,543		0.73%		7.57% to 7.30%
2023		1.45% to 1.70%		75,773		37.22 to 25.41		2,774		0.89%		18.86% to 18.56%
2022		1.45% to 1.70%		92,425		31.31 to 21.43		2,852		0.87%		(8.69)% to (8.92)%
2021		1.45% to 1.70%		108,235		34.29 to 32.78		3,670		1.27%		31.41% to 31.08%
Franklin Templeton Variable Insurance Products Trust
Franklin Allocation VIP Fund — Class 2 Shares
2025		1.45% to 2.95%		1,329,891		19.29 to 12.86		22,982		1.95%		10.97% to 9.28%
2024		1.45% to 2.95%		1,614,203		17.39 to 11.77		25,316		2.04%		7.56% to 5.91%
2023		1.45% to 2.95%		1,957,454		16.16 to 11.11		28,722		1.46%		12.96% to 11.24%
2022		1.45% to 2.95%		2,349,148		14.31 to 9.99		30,672		1.63%		(17.22)% to (18.47)%
2021		1.45% to 2.95%		2,777,133		17.29 to 12.25		44,074		1.76%		10.06% to 8.39%
Franklin Income VIP Fund — Class 2 Shares
2025		1.45% to 2.95%		5,493,336		26.48 to 12.52		116,132		5.12%		10.93% to 9.24%
2024		1.45% to 2.95%		6,607,329		23.88 to 11.46		126,463		5.22%		5.64% to 4.02%
2023		1.45% to 2.95%		7,861,382		22.60 to 11.01		144,032		5.19%		7.05% to 5.43%
2022		1.45% to 2.95%		9,237,386		21.11 to 10.45		159,365		4.97%		(6.84)% to (8.26)%
2021		1.45% to 2.95%		10,383,063		22.66 to 11.39		188,586		4.68%		15.06% to 13.31%
Franklin Large Cap Growth VIP Fund — Class 2 Shares
2025		1.45% to 2.05%		1,916		60.29 to 43.34		113		0.00%		5.66% to 5.02%
2024		1.45% to 2.05%		3,384		57.06 to 41.27		190		0.00%		24.46% to 23.69%
2023		1.45% to 2.05%		3,826		45.85 to 33.36		172		0.00%		38.41% to 37.57%
2022		1.45% to 2.70%		8,961		33.12 to 10.08		240		0.00%		(37.46)% to (38.25)%
2021		1.45% to 2.70%		6,294		52.96 to 16.32		294		0.00%		13.60% to 12.16%
Franklin Mutual Shares VIP Fund — Class 2 Shares
2025		1.45% to 2.95%		855,443		35.67 to 13.01		19,327		2.01%		9.90% to 8.23%
2024		1.45% to 2.95%		1,016,572		32.45 to 12.02		20,924		1.92%		9.65% to 7.97%
2023		1.45% to 2.95%		1,184,949		29.60 to 11.13		22,171		1.84%		11.82% to 10.13%
2022		1.45% to 2.95%		1,352,681		26.47 to 10.11		22,858		0.68%		(8.77)% to (10.16)%
2021		1.45% to 2.95%		6,853,421		29.01 to 11.25		118,673		5.08%		17.44% to 15.65%

F-81

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
Templeton Foreign VIP Fund — Class 1 Shares
2025		1.15% to 1.60%		154,207		21.83 to 19.85		3,144		2.59%		28.02% to 27.44%
2024		1.15% to 1.60%		183,669		17.05 to 15.57		2,936		2.58%		(1.94)% to (2.39)%
2023		1.15% to 1.60%		196,681		17.39 to 15.96		3,219		3.42%		19.70% to 19.17%
2022		1.15% to 1.60%		232,474		14.53 to 13.39		3,188		3.44%		(8.45)% to (8.86)%
2021		1.15% to 1.60%		246,527		15.87 to 14.69		3,706		2.03%		3.23% to 2.77%
Templeton Foreign VIP Fund — Class 2 Shares
2025		1.45% to 2.05%		5,397		29.13 to 16.08		141		2.23%		27.32% to 26.55%
2024		1.45% to 2.05%		7,588		22.88 to 12.70		158		2.36%		(2.44)% to (3.04)%
2023		1.45% to 2.05%		8,433		23.45 to 13.10		181		3.18%		19.01% to 18.29%
2022		1.45% to 2.05%		9,152		19.71 to 11.08		164		3.21%		(8.94)% to (9.50)%
2021		1.45% to 2.70%		15,860		21.64 to 10.26		264		1.43%		2.65% to 1.35%
Templeton Global Bond VIP Fund — Class 1 Shares
2025		1.15% to 1.40%		111,579		16.31 to 15.47		1,732		0.00%		14.75% to 14.46%
2024		1.15% to 1.40%		127,305		14.21 to 13.51		1,727		0.00%		(12.16)% to (12.38)%
2023		1.15% to 1.40%		150,107		16.18 to 15.42		2,325		0.00%		2.01% to 1.75%
2022		1.15% to 1.40%		163,060		15.86 to 15.16		2,482		0.00%		(5.94)% to (6.18)%
2021		1.15% to 1.40%		191,673		16.86 to 16.15		3,121		0.00%		(5.72)% to (5.96)%
Templeton Growth VIP Fund — Class 2 Shares
2025		1.45% to 2.70%		243,190		18.41 to 13.99		4,142		0.88%		22.03% to 20.49%
2024		1.45% to 2.70%		294,911		15.09 to 11.61		4,137		0.97%		3.87% to 2.54%
2023		1.45% to 1.95%		324,737		14.52 to 13.28		4,384		3.26%		19.26% to 18.66%
2022		1.45% to 2.20%		411,691		12.18 to 10.72		4,673		0.16%		(12.78)% to (13.45)%
2021		1.45% to 2.70%		464,747		13.96 to 11.17		6,021		1.07%		3.35% to 2.04%
Goldman Sachs Variable Insurance Trust
Goldman Sachs Government Money Market Fund — Service Shares
2025		1.15% to 2.95%		11,424,646		10.34 to 9.64		111,712		3.87%		2.75% to 0.88%
2024		1.15% to 2.95%		11,958,902		10.06 to 9.56		114,247		4.80%		3.69% to 1.80%
2023		0.75% to 2.95%		14,030,189		10.16 to 9.39		129,868		4.67%		4.00% to 1.70%
2022		0.75% to 2.95%		15,653,008		9.77 to 9.23		140,395		1.39%		0.61% to (1.61)%
2021		0.75% to 2.95%		13,708,774		9.71 to 9.38		123,322		0.01%		(0.74)% to (2.94)%
Goldman Sachs Large Cap Value Fund — Institutional Shares
2025		1.15% to 1.60%		125,068		34.40 to 31.55		4,158		1.07%		9.61% to 9.11%
2024		1.15% to 1.60%		145,147		31.38 to 28.92		4,412		1.37%		15.74% to 15.22%
2023		1.15% to 1.60%		164,370		27.12 to 25.10		4,335		1.69%		11.72% to 11.21%
2022		1.15% to 1.60%		195,188		24.27 to 22.57		4,627		1.21%		(7.44)% to (7.86)%
2021		1.15% to 1.60%		251,827		26.23 to 24.49		6,490		1.11%		22.71% to 22.15%

F-82

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
Goldman Sachs Mid Cap Value Fund — Institutional Shares
2025		1.15% to 2.30%		362,635		78.63 to 32.33		24,156		1.16%		8.14% to 6.88%
2024		1.15% to 2.30%		413,362		72.71 to 30.25		25,563		0.97%		11.10% to 9.80%
2023		1.15% to 2.30%		481,780		65.45 to 27.55		27,007		1.02%		10.14% to 8.86%
2022		1.15% to 2.30%		507,282		59.43 to 25.31		26,585		0.66%		(11.02)% to (12.06)%
2021		1.15% to 2.30%		569,305		66.79 to 28.78		34,036		0.45%		29.45% to 27.94%
Janus Aspen Series
Janus Henderson Balanced Portfolio — Institutional Shares
2025		1.15% to 1.60%		605,641		118.07 to 48.48		48,695		2.00%		13.78% to 13.27%
2024		1.15% to 1.60%		677,153		103.77 to 42.80		48,066		2.03%		14.09% to 13.57%
2023		1.15% to 1.60%		791,106		90.96 to 37.68		49,289		2.07%		14.09% to 13.58%
2022		1.15% to 1.60%		915,650		79.72 to 33.18		49,790		1.36%		(17.36)% to (17.73)%
2021		1.15% to 1.60%		1,053,486		96.47 to 40.33		68,972		1.11%		15.85% to 15.32%
Janus Henderson Balanced Portfolio — Service Shares
2025		1.45% to 2.95%		2,035,237		49.11 to 15.00		69,792		1.68%		13.16% to 11.44%
2024		1.45% to 2.95%		2,356,705		43.40 to 13.46		71,876		1.73%		13.47% to 11.73%
2023		1.45% to 2.95%		2,663,197		38.25 to 12.05		72,310		1.74%		13.47% to 11.75%
2022		1.45% to 2.95%		3,040,782		33.71 to 10.78		73,166		1.09%		(17.82)% to (19.07)%
2021		1.45% to 2.95%		3,497,016		41.02 to 13.32		103,288		0.87%		15.21% to 13.46%
Janus Henderson Enterprise Portfolio — Institutional Shares
2025		1.15% to 1.60%		294,649		205.12 to 55.01		35,069		0.32%		6.43% to 5.95%
2024		1.15% to 1.60%		337,332		192.72 to 51.92		37,339		0.74%		14.27% to 13.75%
2023		1.15% to 1.60%		390,439		168.66 to 45.64		37,499		0.15%		16.72% to 16.19%
2022		1.15% to 1.60%		449,010		144.50 to 39.28		36,431		0.38%		(16.91)% to (17.28)%
2021		1.15% to 1.60%		501,217		173.90 to 47.49		49,547		0.32%		15.49% to 14.97%
Janus Henderson Enterprise Portfolio — Service Shares
2025		1.50% to 1.70%		147,816		29.07 to 27.60		4,588		0.18%		5.80% to 5.59%
2024		1.50% to 1.70%		159,236		27.47 to 26.14		4,701		0.63%		13.58% to 13.35%
2023		1.50% to 1.70%		171,210		24.19 to 23.06		4,501		0.09%		16.01% to 15.78%
2022		1.50% to 1.70%		184,293		20.85 to 19.92		4,158		0.27%		(17.41)% to (17.57)%
2021		1.50% to 1.70%		192,932		25.24 to 24.16		5,287		0.24%		14.79% to 14.56%
Janus Henderson Flexible Bond Portfolio — Institutional Shares
2025		0.75% to 1.60%		205,438		25.57 to 20.54		5,426		5.13%		6.60% to 5.69%
2024		0.75% to 1.60%		241,836		23.99 to 19.44		5,886		4.72%		1.19% to 0.32%
2023		0.75% to 1.60%		284,409		23.71 to 19.38		6,773		4.19%		4.71% to 3.82%
2022		0.75% to 1.60%		315,820		22.64 to 18.66		7,185		2.61%		(14.31)% to (15.04)%
2021		0.75% to 1.60%		358,273		26.42 to 21.96		9,622		2.77%		(1.64)% to (2.48)%

F-83

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
Janus Henderson Forty Portfolio — Institutional Shares
2025		1.15% to 1.60%		280,124		227.21 to 82.53		38,282		0.30%		16.78% to 16.26%
2024		1.15% to 1.60%		311,053		194.56 to 70.99		36,746		0.11%		26.98% to 26.41%
2023		1.15% to 1.60%		352,084		153.22 to 56.16		32,705		0.19%		38.36% to 37.74%
2022		1.15% to 1.60%		404,767		110.74 to 40.77		26,747		0.18%		(34.32)% to (34.61)%
2021		1.15% to 1.60%		468,125		168.60 to 62.36		46,901		0.49%		21.48% to 20.94%
Janus Henderson Forty Portfolio — Service Shares
2025		1.45% to 2.05%		207,305		116.65 to 72.24		16,031		0.26%		16.15% to 15.45%
2024		1.45% to 2.45%		246,890		100.43 to 53.77		16,441		0.01%		26.27% to 24.98%
2023		1.45% to 2.95%		803,559		79.53 to 15.10		34,133		0.13%		37.64% to 35.55%
2022		1.45% to 2.95%		860,555		57.79 to 11.14		26,711		0.07%		(34.69)% to (35.68)%
2021		1.45% to 2.70%		388,821		88.48 to 17.43		22,540		0.54%		20.82% to 19.29%
Janus Henderson Global Research Portfolio — Institutional Shares
2025		1.15% to 1.60%		410,689		127.89 to 35.56		34,862		0.73%		19.53% to 18.99%
2024		1.15% to 1.60%		484,073		106.99 to 29.89		33,497		0.75%		22.15% to 21.60%
2023		1.15% to 1.60%		544,473		87.59 to 24.58		30,618		0.92%		25.32% to 24.76%
2022		1.15% to 1.60%		626,407		69.89 to 19.70		27,831		1.62%		(20.34)% to (20.70)%
2021		1.15% to 1.60%		699,744		87.73 to 24.84		38,786		0.51%		16.73% to 16.20%
Janus Henderson Global Research Portfolio — Service Shares
2025		1.50% to 1.70%		95,140		22.54 to 21.41		2,256		0.60%		18.79% to 18.55%
2024		1.50% to 1.70%		123,501		18.98 to 18.06		2,462		0.58%		21.41% to 21.16%
2023		1.50% to 1.70%		147,477		15.63 to 14.90		2,401		0.76%		24.58% to 24.33%
2022		1.50% to 1.70%		169,516		12.55 to 11.99		2,214		1.47%		(20.81)% to (20.98)%
2021		1.50% to 1.70%		187,057		15.85 to 15.17		3,079		0.36%		16.03% to 15.79%
Janus Henderson Global Technology and Innovation Portfolio — Service Shares
2025		1.15% to 1.70%		288,942		51.30 to 43.55		13,582		0.00%		23.41% to 22.72%
2024		1.15% to 1.70%		322,473		41.57 to 35.48		12,308		0.00%		30.23% to 29.51%
2023		1.15% to 1.70%		361,288		31.92 to 27.40		10,600		0.00%		52.51% to 51.66%
2022		1.15% to 1.70%		391,525		20.93 to 18.07		7,549		0.00%		(37.85)% to (38.19)%
2021		1.15% to 1.70%		442,480		33.67 to 29.23		13,783		0.66%		16.39% to 15.74%
Janus Henderson Overseas Portfolio — Institutional Shares
2025		1.15% to 1.60%		285,080		75.33 to 39.73		16,625		1.44%		27.39% to 26.82%
2024		1.15% to 1.60%		316,304		59.13 to 31.33		14,395		1.34%		4.61% to 4.14%
2023		1.15% to 1.60%		359,251		56.53 to 30.09		15,479		1.49%		9.60% to 9.11%
2022		1.15% to 1.60%		453,822		51.57 to 27.58		17,125		1.74%		(9.65)% to (10.06)%
2021		1.15% to 1.60%		503,564		57.09 to 30.66		21,111		1.13%		12.28% to 11.77%

F-84

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
Janus Henderson Overseas Portfolio — Service Shares
2025		1.45% to 1.70%		57,907		51.18 to 20.98		1,360		1.29%		26.72% to 26.40%
2024		1.45% to 1.70%		73,387		40.39 to 16.60		1,360		1.26%		4.04% to 3.77%
2023		1.45% to 2.10%		95,242		38.83 to 23.64		1,738		1.40%		8.99% to 8.27%
2022		1.45% to 2.10%		106,468		35.62 to 21.83		1,785		1.65%		(10.16)% to (10.75)%
2021		1.45% to 2.10%		118,255		39.65 to 24.46		2,269		1.01%		11.65% to 10.91%
Janus Henderson Research Portfolio — Institutional Shares
2025		1.15% to 1.60%		401,587		168.49 to 52.35		41,704		0.12%		17.03% to 16.50%
2024		1.15% to 1.60%		473,397		143.97 to 44.93		41,915		0.03%		33.74% to 33.14%
2023		1.15% to 1.60%		556,511		107.65 to 33.75		36,638		0.15%		41.53% to 40.89%
2022		1.15% to 1.60%		647,195		76.06 to 23.95		30,080		0.70%		(30.70)% to (31.01)%
2021		1.15% to 1.60%		721,553		109.75 to 34.72		48,298		0.10%		18.95% to 18.41%
Janus Henderson Research Portfolio — Service Shares
2025		1.50% to 1.70%		75,022		39.08 to 37.11		3,040		0.13%		16.33% to 16.09%
2024		1.50% to 1.70%		91,398		33.60 to 31.97		3,176		0.00%		32.92% to 32.65%
2023		1.50% to 1.70%		105,895		25.28 to 24.10		2,765		0.06%		40.68% to 40.39%
2022		1.50% to 1.70%		116,746		17.97 to 17.16		2,173		0.57%		(31.11)% to (31.25)%
2021		1.50% to 1.70%		127,775		26.08 to 24.97		3,457		0.02%		18.25% to 18.01%
Legg Mason Partners Variable Equity Trust
ClearBridge Variable Dividend Strategy Portfolio — Class I
2025		1.15% to 1.60%		102,967		39.87 to 36.64		3,898		2.17%		11.32% to 10.82%
2024		1.15% to 1.60%		109,167		35.81 to 33.06		3,721		1.32%		15.49% to 14.97%
2023		1.15% to 1.60%		115,802		31.01 to 28.76		3,422		2.07%		12.89% to 12.38%
2022		1.15% to 1.60%		136,003		27.47 to 25.59		3,571		1.37%		(9.16)% to (9.57)%
2021		1.15% to 1.60%		149,457		30.24 to 28.30		4,330		1.49%		25.34% to 24.77%
ClearBridge Variable Dividend Strategy Portfolio — Class II
2025		1.45% to 2.95%		125,612		36.70 to 16.66		4,131		1.88%		10.83% to 9.14%
2024		1.45% to 2.95%		146,812		33.11 to 15.27		4,378		1.11%		14.99% to 13.23%
2023		1.45% to 2.95%		174,407		28.80 to 13.48		4,571		1.96%		12.36% to 10.66%
2022		1.45% to 2.95%		190,214		25.63 to 12.19		4,466		1.22%		(9.56)% to (10.93)%
2021		1.45% to 2.95%		200,036		28.34 to 13.68		5,208		1.34%		24.78% to 22.88%
ClearBridge Variable Growth Portfolio — Class II
2025		1.45% to 2.30%		48,974		50.60 to 30.41		2,273		0.00%		11.46% to 10.50%
2024		1.45% to 2.30%		54,977		45.40 to 27.52		2,296		0.11%		10.78% to 9.82%
2023		1.45% to 2.30%		73,083		40.98 to 25.06		2,789		0.06%		22.34% to 21.29%
2022		1.45% to 2.30%		79,595		33.50 to 20.66		2,477		0.00%		(27.65)% to (28.27)%
2021		1.45% to 2.30%		117,214		46.30 to 28.81		5,118		0.17%		8.45% to 7.51%

F-85

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
ClearBridge Variable Large Cap Value Portfolio — Class I
2025		1.15% to 2.30%		345,270		64.49 to 19.36		11,091		1.08%		8.93% to 7.66%
2024		1.15% to 2.30%		385,942		59.21 to 17.98		11,722		1.17%		6.83% to 5.58%
2023		1.15% to 2.30%		562,353		55.42 to 17.03		14,945		1.27%		13.77% to 12.46%
2022		1.15% to 2.30%		601,144		48.71 to 15.15		14,261		1.30%		(7.50)% to (8.58)%
2021		1.15% to 2.30%		650,591		52.66 to 16.57		16,744		1.05%		24.76% to 23.31%
Lincoln Variable Insurance Products Trust
LVIP American Century Disciplined Core Value Fund — Standard Class II
2025		1.45% to 2.05%		907		50.18 to 32.15		32		1.62%		13.19% to 12.51%
2024		1.45% to 2.05%		1,185		44.33 to 28.57		39		1.31%		11.45% to 10.76%
2023		1.45% to 2.05%		534		39.78 to 25.80		18		1.50%		7.08% to 6.43%
2022		1.45% to 2.70%		10,140		37.15 to 11.81		235		1.87%		(14.00)% to (15.09)%
2021		1.45% to 2.70%		7,937		43.19 to 13.90		246		1.00%		21.86% to 20.31%
LVIP American Century Inflation Protection Fund — Service Class
2025		1.45% to 2.95%		1,104,011		13.50 to 9.50		13,685		7.04%		4.79% to 3.19%
2024		1.45% to 2.95%		1,249,464		12.89 to 9.21		14,816		3.59%		0.06% to (1.47)%
2023		1.45% to 2.95%		1,395,150		12.88 to 9.34		16,633		3.30%		1.90% to 0.36%
2022		1.45% to 2.95%		1,491,405		12.64 to 9.31		17,508		5.08%		(14.34)% to (15.64)%
2021		1.45% to 2.95%		1,162,727		14.75 to 11.04		15,954		3.10%		4.73% to 3.13%
LVIP American Century International Fund — Standard Class II
2025		1.45% to 2.70%		9,387		33.92 to 12.62		195		1.15%		14.30% to 12.85%
2024		1.45% to 2.70%		12,240		29.67 to 11.18		239		1.64%		1.11% to (0.18)%
2023		1.45% to 2.70%		13,782		29.35 to 11.20		270		1.27%		10.94% to 9.54%
2022		1.45% to 2.70%		11,777		26.45 to 10.23		216		1.48%		(25.84)% to (26.78)%
2021		1.45% to 2.70%		11,901		35.67 to 13.97		297		0.21%		7.17% to 5.81%
LVIP American Century Ultra^® Fund — Standard Class II
2025		1.45% to 2.70%		—		93.10 to 24.01		—		0.00%		11.21% to 9.80%
2024		1.85% to 1.85%		521		65.38 to 65.38		34		0.00%		26.40% to 26.40%
2023		1.85% to 1.85%		673		51.73 to 51.73		35		0.00%		40.87% to 40.87%
2022		1.85% to 1.85%		903		36.72 to 36.72		33		0.00%		(33.63)% to (33.63)%
2021		1.45% to 2.70%		2,338		69.98 to 19.00		116		0.00%		21.38% to 19.84%
LVIP American Century Value Fund — Standard Class II
2025		1.45% to 1.45%		1,112		53.21 to 53.21		59		1.58%		14.34% to 14.34%
2024		1.45% to 1.45%		1,452		46.53 to 46.53		68		2.87%		7.89% to 7.89%
2023		1.45% to 2.70%		9,173		43.13 to 13.40		268		2.38%		7.52% to 6.16%
2022		1.45% to 2.70%		8,246		40.11 to 12.62		223		2.07%		(0.91)% to (2.17)%
2021		1.45% to 2.70%		4,637		40.48 to 12.90		141		1.30%		22.71% to 21.15%

F-86

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
LVIP JPMorgan Core Bond Fund — Standard Class
2025		1.45% to 2.70%		53,309		14.87 to 9.22		721		3.45%		5.85% to 4.50%
2024		1.45% to 2.70%		64,992		14.05 to 8.82		843		3.23%		0.24% to (1.04)%
2023		1.45% to 2.70%		89,596		14.02 to 8.91		1,197		3.59%		4.38% to 3.05%
2022		1.45% to 2.70%		77,516		13.43 to 8.65		960		1.96%		(13.84)% to (14.93)%
2021		1.45% to 2.70%		86,497		15.59 to 10.17		1,248		2.33%		(2.79)% to (4.02)%
LVIP JPMorgan Mid Cap Value Fund — Standard Class
2025		1.45% to 2.70%		6,633		53.22 to 14.10		167		1.09%		3.20% to 1.89%
2024		1.45% to 2.70%		7,657		51.57 to 13.83		203		1.15%		12.62% to 11.18%
2023		1.45% to 2.70%		9,377		45.79 to 12.44		211		2.34%		9.30% to 7.92%
2022		1.45% to 1.95%		1,332		41.90 to 39.08		54		1.01%		(9.49)% to (9.95)%
2021		1.45% to 2.70%		5,273		46.29 to 12.90		138		1.01%		28.00% to 26.38%
LVIP JPMorgan Small Cap Core Fund — Standard Class
2025		1.45% to 1.95%		256		51.62 to 47.42		13		0.39%		8.67% to 8.12%
2024		1.45% to 2.70%		6,177		47.50 to 12.96		149		0.77%		10.08% to 8.68%
2023		1.45% to 1.45%		125		43.15 to 43.15		5		1.37%		11.46% to 11.46%
2022		1.45% to 1.45%		125		38.72 to 38.72		5		0.45%		(20.52)% to (20.52)%
2021		1.45% to 1.45%		125		48.71 to 48.71		6		0.76%		19.63% to 19.63%
LVIP JPMorgan U.S. Equity Fund — Standard Class
2025		1.45% to 2.70%		14,725		65.77 to 21.97		841		0.68%		12.88% to 11.45%
2024		1.45% to 2.70%		5,706		58.27 to 19.71		308		0.18%		22.18% to 20.62%
2023		1.45% to 2.70%		26,643		47.69 to 16.34		1,163		1.55%		25.32% to 23.74%
2022		1.45% to 2.70%		27,733		38.05 to 13.21		876		0.54%		(19.87)% to (20.89)%
2021		1.45% to 2.70%		31,410		47.49 to 16.70		1,248		0.70%		27.47% to 25.85%
MFS^® Variable Insurance Trust
MFS^® Investors Trust Series — Service Class Shares
2025		1.45% to 1.70%		78,647		62.59 to 38.16		3,289		0.59%		11.68% to 11.40%
2024		1.45% to 1.70%		96,371		56.04 to 34.26		3,593		0.47%		17.48% to 17.18%
2023		1.45% to 1.70%		114,935		47.70 to 29.23		3,705		0.45%		16.95% to 16.65%
2022		1.45% to 1.70%		141,118		40.79 to 25.06		3,916		0.38%		(17.89)% to (18.10)%
2021		1.45% to 1.70%		156,913		49.68 to 30.60		5,300		0.41%		24.67% to 24.36%
MFS^® New Discovery Series — Service Class Shares
2025		1.15% to 2.30%		194,982		63.84 to 38.53		7,592		0.00%		11.26% to 9.97%
2024		1.15% to 2.30%		229,227		57.38 to 35.03		8,141		0.00%		5.20% to 3.97%
2023		1.15% to 2.30%		255,148		54.54 to 33.69		8,625		0.00%		12.94% to 11.63%
2022		1.15% to 2.30%		285,655		48.29 to 30.18		8,585		0.00%		(30.80)% to (31.60)%
2021		1.15% to 2.30%		312,846		69.79 to 44.13		13,745		0.00%		0.40% to (0.76)%

F-87

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
MFS^® Total Return Series — Service Class Shares
2025		1.45% to 2.95%		1,026,024		31.66 to 12.89		23,060		2.49%		9.31% to 7.64%
2024		1.45% to 2.95%		1,168,323		28.97 to 11.98		24,533		2.24%		5.89% to 4.27%
2023		1.45% to 2.95%		1,320,593		27.35 to 11.49		26,127		1.82%		8.62% to 6.98%
2022		1.45% to 2.95%		1,402,440		25.18 to 10.74		25,776		1.45%		(11.14)% to (12.49)%
2021		1.45% to 2.95%		1,820,883		28.34 to 12.27		37,727		1.59%		12.19% to 10.48%
MFS^® Utilities Series — Service Class Shares
2025		1.45% to 1.95%		193,078		70.94 to 40.61		8,861		2.63%		13.09% to 12.52%
2024		1.45% to 1.95%		240,855		62.73 to 36.09		9,725		2.14%		9.72% to 9.16%
2023		1.45% to 1.95%		252,268		57.17 to 33.06		9,271		3.28%		(3.74)% to (4.23)%
2022		1.45% to 2.20%		275,570		59.39 to 33.00		10,616		2.19%		(0.97)% to (1.73)%
2021		1.45% to 2.20%		302,306		59.98 to 33.58		11,610		1.52%		12.17% to 11.32%
MFS^® Variable Insurance Trust II
MFS^® Income Portfolio — Service Class Shares
2025		1.45% to 1.45%		995		11.97 to 11.97		12		4.23%		5.54% to 5.54%
2024		1.45% to 1.45%		966		11.34 to 11.34		11		3.64%		1.41% to 1.41%
2023		1.45% to 1.45%		1,317		11.18 to 11.18		15		3.53%		5.81% to 5.81%
2022		1.45% to 1.45%		1,339		10.57 to 10.57		14		3.02%		(15.09)% to (15.09)%
2021		1.45% to 1.45%		1,350		12.45 to 12.45		17		2.70%		(1.35)% to (1.35)%
MFS^® Massachusetts Investors Growth Stock Portfolio — Service Class Shares
2025		1.45% to 2.30%		136,259		31.12 to 28.35		4,209		0.02%		8.02% to 7.09%
2024		1.45% to 2.70%		186,187		28.81 to 16.95		5,309		0.13%		14.29% to 12.83%
2023		1.45% to 2.70%		207,982		25.21 to 15.02		5,199		0.05%		21.92% to 20.38%
2022		1.45% to 2.70%		244,498		20.68 to 12.48		5,013		0.00%		(20.61)% to (21.62)%
2021		1.45% to 2.30%		273,142		26.05 to 24.57		7,079		0.03%		23.84% to 22.77%
PIMCO Variable Insurance Trust
All Asset Portfolio — Advisor Class Shares
2025		1.45% to 1.95%		146,530		20.68 to 18.62		2,917		4.50%		12.54% to 11.97%
2024		1.45% to 1.95%		183,085		18.38 to 16.63		3,249		6.29%		2.06% to 1.54%
2023		1.45% to 1.95%		213,911		18.01 to 16.38		3,730		2.79%		6.46% to 5.92%
2022		1.45% to 1.95%		230,086		16.91 to 15.46		3,765		7.52%		(13.14)% to (13.58)%
2021		1.45% to 1.95%		251,131		19.47 to 17.89		4,731		10.85%		14.36% to 13.78%
High Yield Portfolio — Administrative Class Shares
2025		1.45% to 2.95%		991,485		27.21 to 10.98		23,380		6.27%		7.37% to 5.74%
2024		1.45% to 2.95%		1,150,996		25.34 to 10.39		25,285		5.83%		5.33% to 3.72%
2023		1.45% to 2.95%		1,317,441		24.06 to 10.01		27,510		5.66%		10.60% to 8.92%
2022		1.45% to 2.95%		1,459,658		21.75 to 9.19		27,559		5.08%		(11.58)% to (12.92)%
2021		1.45% to 2.95%		1,113,122		24.60 to 10.56		25,510		4.44%		2.13% to 0.57%

F-88

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
International Bond Portfolio (U.S. Dollar Hedged) — Administrative Class Shares
2025		1.50% to 1.70%		46,035		21.49 to 20.40		980		3.49%		2.40% to 2.19%
2024		1.50% to 1.70%		47,800		20.99 to 19.97		994		3.60%		3.87% to 3.66%
2023		1.50% to 1.70%		54,395		20.20 to 19.26		1,088		2.58%		7.38% to 7.17%
2022		1.50% to 1.70%		57,462		18.81 to 17.97		1,071		1.47%		(11.50)% to (11.68)%
2021		1.50% to 1.70%		71,668		21.26 to 20.35		1,503		1.59%		(3.43)% to (3.62)%
Long-Term U.S. Government Portfolio — Administrative Class Shares
2025		1.45% to 2.95%		1,636,293		16.26 to 7.00		23,234		3.26%		4.75% to 3.15%
2024		1.45% to 2.95%		1,674,227		15.52 to 6.78		23,255		2.73%		(7.38)% to (8.80)%
2023		1.45% to 2.95%		3,460,483		16.76 to 7.44		50,462		2.38%		2.48% to 0.92%
2022		1.45% to 2.95%		3,778,536		16.35 to 7.37		53,874		2.05%		(29.91)% to (30.97)%
2021		1.45% to 2.95%		2,622,435		23.33 to 10.68		54,640		1.55%		(6.16)% to (7.59)%
Low Duration Portfolio — Administrative Class Shares
2025		1.45% to 2.95%		1,904,117		12.78 to 9.30		22,452		3.94%		3.99% to 2.41%
2024		1.45% to 2.95%		2,415,389		12.29 to 9.08		27,524		4.00%		2.97% to 1.40%
2023		1.45% to 2.95%		3,928,764		11.93 to 8.95		43,146		3.59%		3.45% to 1.88%
2022		1.45% to 2.95%		4,050,621		11.53 to 8.79		43,248		1.56%		(7.10)% to (8.51)%
2021		1.45% to 2.95%		5,989,897		12.41 to 9.60		68,669		0.52%		(2.36)% to (3.85)%
Total Return Portfolio — Administrative Class Shares
2025		1.15% to 2.95%		5,290,272		18.10 to 9.16		85,487		4.10%		7.64% to 5.68%
2024		1.15% to 2.95%		6,354,863		16.81 to 8.67		95,573		4.03%		1.35% to (0.51)%
2023		1.15% to 2.95%		6,268,730		16.59 to 8.71		94,375		3.56%		4.72% to 2.82%
2022		1.15% to 2.95%		5,386,289		15.84 to 8.47		80,255		2.56%		(15.28)% to (16.82)%
2021		1.15% to 2.95%		8,123,779		18.70 to 10.19		139,271		1.82%		(2.40)% to (4.18)%
Rydex Variable Trust
NASDAQ — 100^® Fund
2025		1.45% to 1.70%		186,691		138.21 to 34.00		9,881		0.03%		17.31% to 17.02%
2024		1.45% to 1.70%		207,285		117.81 to 29.06		9,547		0.20%		22.10% to 21.79%
2023		1.45% to 1.70%		237,085		96.49 to 23.86		8,750		0.00%		51.01% to 50.63%
2022		1.45% to 1.85%		194,977		63.90 to 45.27		4,355		0.00%		(35.10)% to (35.36)%
2021		1.45% to 1.85%		227,854		98.45 to 70.03		7,892		0.00%		23.72% to 23.22%
State Street Variable Insurance Series Funds, Inc.
Income V.I.S. Fund — Class 1 Shares
2025		0.75% to 2.30%		489,997		17.93 to 9.98		6,673		3.44%		5.12% to 3.48%
2024		0.75% to 2.30%		572,566		17.06 to 9.64		7,504		3.06%		(1.56)% to (3.11)%
2023		0.75% to 2.30%		639,351		17.33 to 9.95		8,613		2.01%		3.90% to 2.28%
2022		0.75% to 2.30%		685,203		16.68 to 9.73		9,008		2.53%		(15.02)% to (16.35)%
2021		0.75% to 2.30%		802,680		19.63 to 11.63		12,578		2.12%		(2.55)% to (4.07)%

F-89

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
Premier Growth Equity V.I.S. Fund — Class 1 Shares
2025		1.15% to 1.95%		362,793		84.56 to 73.69		27,073		0.00%		18.62% to 17.66%
2024		1.15% to 1.95%		440,971		71.29 to 62.63		27,851		0.00%		29.54% to 28.49%
2023		1.15% to 1.95%		537,937		55.03 to 48.74		25,936		0.00%		44.60% to 43.44%
2022		1.15% to 2.10%		610,779		38.06 to 31.53		20,493		0.00%		(31.23)% to (31.89)%
2021		1.15% to 2.10%		696,883		55.34 to 46.29		34,295		0.00%		23.53% to 22.35%
Real Estate Securities V.I.S. Fund — Class 1 Shares
2025		0.75% to 2.05%		190,959		79.69 to 28.60		14,597		1.05%		1.19% to (0.13)%
2024		0.75% to 2.70%		222,267		78.75 to 11.30		16,744		2.27%		9.63% to 7.47%
2023		0.75% to 2.95%		1,673,788		71.83 to 10.39		50,822		2.81%		12.65% to 10.16%
2022		0.75% to 2.95%		963,995		63.76 to 9.43		31,805		1.73%		(25.49)% to (27.14)%
2021		0.75% to 2.70%		516,159		85.58 to 13.03		38,566		2.23%		40.74% to 37.98%
S&P 500^® Index V.I.S. Fund — Class 1 Shares
2025		1.15% to 1.95%		2,096,924		306.05 to 54.83		156,595		0.94%		16.17% to 15.23%
2024		1.15% to 2.30%		2,445,959		263.46 to 43.06		155,856		1.12%		23.18% to 21.75%
2023		0.75% to 2.30%		2,786,116		40.21 to 35.37		143,020		1.42%		25.02% to 23.07%
2022		0.75% to 2.70%		2,688,055		32.16 to 12.29		112,022		1.25%		(18.93)% to (20.52)%
2021		0.75% to 2.70%		3,167,505		39.67 to 15.47		163,536		1.07%		27.31% to 24.81%
Small-Cap Equity V.I.S. Fund — Class 1 Shares
2025		1.15% to 2.30%		359,948		56.62 to 29.31		18,146		0.00%		(1.40)% to (2.54)%
2024		1.15% to 2.30%		408,933		57.42 to 30.08		21,044		0.11%		9.04% to 7.77%
2023		1.15% to 2.30%		460,122		52.66 to 27.91		21,779		0.00%		12.25% to 10.95%
2022		1.15% to 2.30%		516,378		46.91 to 25.15		21,877		0.00%		(16.37)% to (17.34)%
2021		1.15% to 2.30%		614,611		56.09 to 30.43		31,221		0.00%		19.15% to 17.76%
Total Return V.I.S. Fund — Class 1 Shares
2025		1.15% to 2.95%		23,976,850		107.95 to 12.85		627,740		2.45%		14.52% to 12.44%
2024		1.15% to 2.95%		26,388,511		94.26 to 11.43		606,146		4.58%		10.02% to 8.01%
2023		0.75% to 2.95%		28,711,624		24.68 to 10.58		602,277		2.27%		14.62% to 12.09%
2022		0.75% to 2.95%		31,236,127		21.53 to 9.44		576,738		0.90%		(17.13)% to (18.97)%
2021		0.75% to 2.95%		33,565,522		25.98 to 11.65		754,081		2.08%		12.60% to 10.10%
Total Return V.I.S. Fund — Class 3 Shares
2025		1.45% to 2.95%		13,808,620		21.09 to 12.64		246,629		2.13%		13.81% to 12.08%
2024		1.45% to 2.95%		16,156,286		18.53 to 11.28		254,137		4.10%		9.44% to 7.76%
2023		1.45% to 2.95%		18,946,307		16.93 to 10.46		273,380		1.93%		13.54% to 11.82%
2022		1.45% to 2.95%		22,276,836		14.91 to 9.36		284,279		0.38%		(17.92)% to (19.17)%
2021		1.45% to 2.95%		25,159,448		18.17 to 11.58		393,270		1.75%		11.56% to 9.86%

F-90

GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1

Notes to Financial Statements — Continued

December 31, 2025


	Expense as a % of Average Net Assets (1)		Units		Unit Value		Net Assets 000s		Investment Income Ratio (2)		Total Return (3)
U.S. Equity V.I.S. Fund — Class 1 Shares
2025		1.15% to 1.95%		266,759		69.97 to 52.92		15,060		0.19%		15.12% to 14.19%
2024		1.15% to 1.95%		342,860		60.78 to 46.35		16,857		0.35%		23.10% to 22.10%
2023		0.75% to 1.95%		441,567		43.47 to 37.96		17,472		0.47%		26.95% to 25.42%
2022		0.75% to 1.95%		545,773		34.24 to 30.26		17,119		0.46%		(19.52)% to (20.49)%
2021		0.75% to 1.95%		632,397		42.54 to 38.06		24,875		0.33%		24.55% to 23.05%
The Alger Portfolios
Alger Large Cap Growth Portfolio — Class I-2 Shares
2025		1.15% to 1.60%		327,767		137.73 to 55.99		30,596		0.00%		28.77% to 28.19%
2024		1.15% to 1.60%		387,809		106.96 to 43.67		28,421		0.00%		41.23% to 40.59%
2023		1.15% to 1.60%		463,510		75.73 to 31.06		23,488		0.00%		31.15% to 30.56%
2022		1.15% to 1.60%		522,231		57.74 to 23.79		20,174		0.00%		(39.36)% to (39.63)%
2021		1.15% to 1.60%		571,353		95.22 to 39.42		36,365		0.00%		10.56% to 10.06%
Alger Small Cap Growth Portfolio — Class I-2 Shares
2025		1.15% to 1.60%		267,613		42.41 to 30.01		9,705		0.00%		4.69% to 4.22%
2024		1.15% to 1.60%		315,955		40.51 to 28.79		10,905		0.37%		6.88% to 6.39%
2023		1.15% to 1.60%		356,063		37.90 to 27.06		11,505		0.00%		15.16% to 14.64%
2022		1.15% to 1.60%		400,023		32.91 to 23.61		11,230		0.00%		(38.73)% to (39.00)%
2021		1.15% to 1.60%		434,896		53.72 to 38.70		20,053		0.00%		(7.14)% to (7.56)%
The Prudential Series Fund
PSF PGIM Jennison Blend Portfolio — Class II Shares
2025		1.45% to 1.95%		593,474		14.97 to 14.81		9,666		0.00%		16.34% to 15.75%
2024		1.45% to 2.30%		347,407		12.86 to 12.75		4,884		0.00%		23.97% to 22.90%
2023		1.45% to 2.30%		382,268		10.38 to 10.37		4,242		0.00%		3.77% to 3.72%
2022		1.55% to 1.55%		—		26.21 to 26.21		—		0.00%		(26.55)% to (26.55)%
2021		1.55% to 1.55%		—		35.68 to 35.68		—		0.00%		18.03% to 18.03%
PSF PGIM Jennison Growth Portfolio — Class II Shares
2025		1.45% to 2.20%		82,549		105.97 to 75.27		8,397		0.00%		12.16% to 11.30%
2024		1.45% to 2.30%		93,220		94.48 to 58.79		8,482		0.00%		28.45% to 27.34%
2023		1.45% to 2.30%		107,199		73.55 to 46.17		7,592		0.00%		50.69% to 49.39%
2022		1.45% to 2.30%		118,813		48.81 to 30.90		5,548		0.00%		(38.75)% to (39.28)%
2021		1.45% to 2.30%		138,763		79.69 to 50.89		10,610		0.00%		13.88% to 12.90%

(1)

Expenses as a percentage of average net assets represent the annualized asset-based contract expenses of the Separate Account, consisting of mortality and expense risk charges, administrative expenses, and other rider charges for each period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to the contract owner through the redemption of units and expenses of the underlying Portfolios are excluded.

(2)	The investment income ratio represents the ordinary dividends received by the subaccount from the Portfolio divided by average net assets.

(3)

The total return represents a range of maximum and minimum annual total returns for the year or lesser period indicated and includes deductions for expenses assessed through the daily unit value calculation. The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a

F-91

Independent Auditors’ Report

Audit, Compensation, and Nominating Committee

Genworth Life and Annuity Insurance Company:

Report on the Audit of the Financial Statements

Opinions

We have audited the financial statements of Genworth Life and Annuity Insurance Company (the Company), which comprise the statutory statements of admitted assets, liabilities, and capital and surplus as of December 31, 2025 and 2024, and the related statutory statements of summary of operations, statutory statements of changes in capital and surplus, and statutory statements of cash flow for each of the years in the three-year period ended December 31, 2025, and the related notes to the financial statements.

Unmodified Opinion on Statutory Basis of Accounting

In our opinion, the accompanying financial statements present fairly, in all material respects, the admitted assets, liabilities, and capital and surplus of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flow for each of the years in the three-year period ended December 31, 2025 in accordance with accounting practices prescribed or permitted by the Virginia State Corporation Commission, Bureau of Insurance described in Note 1.

Adverse Opinion on U.S. Generally Accepted Accounting Principles

In our opinion, because of the significance of the matter discussed in the Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles section of our report, the financial statements do not present fairly, in accordance with U.S. generally accepted accounting principles, the financial position of the Company as of December 31, 2025 and 2024, or the results of its operations or its cash flows for each of the years in the three-year period ended December 31, 2025.

Basis for Opinions

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles

As described in Note 1 to the financial statements, the financial statements are prepared by the Company using accounting practices prescribed or permitted by the Virginia State Corporation Commission, Bureau of Insurance, which is a basis of accounting other than U.S. generally accepted accounting principles. Accordingly, the financial statements are not intended to be presented in accordance with U.S. generally accepted accounting principles. The effects on the financial statements of the variances between the statutory accounting practices described in Note 1 and U.S. generally accepted accounting principles, although not reasonably determinable, are presumed to be material and pervasive.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting practices prescribed or permitted by the Virginia State Corporation Commission, Bureau of Insurance. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year after the date that the financial statements are issued.

F-1

Auditors’ Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:

•

Exercise professional judgment and maintain professional skepticism throughout the audit.

•

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

•

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. Accordingly, no such opinion is expressed.

•

Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

•

Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

/s/ KPMG LLP

Richmond, Virginia

April 21, 2026

F-2

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Statutory Statements of Admitted Assets, Liabilities and Capital and Surplus

December 31, 2025 and 2024

(Dollar amounts in millions, except per share amounts)


	2025		2024
Admitted Assets
Cash and invested assets:
Bonds	$	8,386.0	$	8,808.9
Preferred stocks — nonaffiliates		31.5		33.6
Common stocks — affiliates		103.3		119.1
Common stocks — nonaffiliates		45.4		46.9
Mortgage loans		1,498.2		1,599.4
Real estate		10.9		11.5
Contract loans		420.8		422.2
Cash, cash equivalents and short-term investments		366.5		234.9
Other invested assets		193.8		180.1
Receivable for securities		2.7		5.5
Derivative assets		19.0		20.4

Total cash and invested assets		11,078.1		11,482.5

Amounts recoverable from reinsurers and funds held		282.5		324.2
Deferred tax asset		19.2		51.4
Guaranty funds receivable		6.5		7.2
Premiums and accounts receivable		275.3		287.3
Investment income due and accrued		104.0		110.6
Receivable from parent, subsidiaries and affiliates		0.2		—
Current Federal income tax recoverable		—		1.1
Other assets		7.4		8.9
Separate account assets		4,117.1		4,175.2

Total admitted assets	$	15,890.3	$	16,448.4

F-3

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Statutory Statements of Admitted Assets, Liabilities and Capital and Surplus — Continued

December 31, 2025 and 2024

(Dollar amounts in millions, except per share amounts)


	2025			2024
Liabilities and Capital and Surplus
Liabilities
Aggregate reserves — life	$	6,772.5		$	6,905.7
Aggregate reserves — annuity contracts		1,863.5			2,112.7
Aggregate reserves — accident and health policies		0.2			0.3
Liability for deposit-type contracts		259.6			337.7
Liability for policy and contract claims		106.5			95.2
Policyholders dividends		0.3			0.3
Premiums and annuity considerations received in advance		3.1			4.1
Other amounts payable on reinsurance		144.4			147.9
Interest maintenance reserve		13.9			20.9
Commissions payable		0.2			0.2
General expenses due or accrued		3.4			3.0
Transfers to separate accounts due or accrued		(14.7	)		(12.7	)
Taxes, licenses, and fees due or accrued		6.3			6.8
Current Federal income tax payable		8.0			—
Unearned investment income		5.4			5.4
Amounts withheld or retained by company as agent or trustee		26.3			28.3
Remittances and items not allocated		28.5			31.4
Asset valuation reserve		109.7			116.1
Payable to parent, subsidiaries and affiliates		12.3			12.6
Funds held under coinsurance and treaties with unauthorized reinsurers		1,597.0			1,621.8
Payable for securities		0.2			0.3
Derivative liabilities		3.2			0.8
Separate account liabilities		4,117.1			4,175.2

Total liabilities		15,066.9			15,614.0

Capital and surplus:
Common stock, Class A ($1,000 par value. 50,000 shares authorized; 25,651 shares issued and outstanding)		25.6			25.6
Paid in surplus		1,456.7			1,456.7
Unassigned deficit		(658.9	)		(647.9	)

Total capital and surplus		823.4			834.4

Total liabilities and capital and surplus	$	15,890.3		$	16,448.4

See accompanying notes to statutory financial statements.

F-4

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Statutory Statements of Summary of Operations

Years ended December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	2025			2024			2023
Revenues:
Premiums and annuity considerations	$	126.3		$	137.6		$	220.1
Considerations for supplementary contracts with life contingencies		24.7			25.7			23.8
Net investment income		538.5			533.5			552.8
Amortization of interest maintenance reserve		(0.2	)		1.0			2.1
Commissions and expense allowances on reinsurance ceded		88.1			99.5			97.7
Reserve adjustments on reinsurance ceded		(100.6	)		(95.7	)		(95.4	)
Income from fees associated with investment management, administration, and contract guarantees from separate accounts		72.6			76.7			78.0
Other income		20.3			22.4			24.1

Total revenues		769.7			800.7			903.2

Benefits:
Death benefits		378.9			380.7			419.7
Matured endowments		2.8			1.1			2.0
Annuity benefits		279.9			276.6			308.6
Disability benefits and benefits under accident and health policies		4.2			4.3			4.1
Surrender benefits and other fund withdrawals		402.1			477.1			511.7
Payments on supplementary contracts with life contingencies		23.8			22.5			20.6
Interest and adjustments on contracts or deposit-type contract funds		11.5			11.6			15.0
Decrease in aggregate reserves — life, annuity and accident and health		(382.5	)		(458.2	)		(592.3	)

Total benefits		720.7			715.7			689.4

Expenses:
Commissions		73.2			78.9			83.9
General insurance expenses		141.8			147.9			134.5
Insurance taxes, licenses, and fees, excluding Federal income taxes		19.3			20.6			20.8
Net transfer from separate accounts		(357.6	)		(362.2	)		(329.8	)
Other expenses		47.1			63.8			71.5

Total expenses		(76.2	)		(51.0	)		(19.1	)

Total benefits and expenses		644.5			664.7			670.3

Income before Federal income taxes and realized capital losses, net		125.2			136.0			232.9
Federal income taxes		(11.8	)		(6.9	)		14.9

Income before realized capital losses		137.0			142.9			218.0
Realized capital losses, net		(38.0	)		(79.4	)		(119.6	)

Net income	$	99.0		$	63.5		$	98.4

See accompanying notes to statutory financial statements.

F-5

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Statutory Statements of Changes in Capital and Surplus

Years ended December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	Common stock
	Amount		Shares		Paid in surplus		Unassigned deficit			Total
Balances as of December 31, 2022	$	25.6		25,651	$	1,456.7	$	(677.8	)	$	804.5
Net income		—		—		—		98.4			98.4
Change in net unrealized capital gains and losses		—		—		—		(5.0	)		(5.0	)
Change in net unrealized foreign exchange capital gains and losses		—		—		—		1.3			1.3
Change in net deferred income taxes		—		—		—		(6.6	)		(6.6	)
Change in nonadmitted assets		—		—		—		31.3			31.3
Change in liability for reinsurance in unauthorized companies		—		—		—		12.4			12.4
Change in asset valuation reserve		—		—		—		(9.5	)		(9.5	)
Change in surplus as a result of reinsurance		—		—		—		(31.8	)		(31.8	)

Balances as of December 31, 2023		25.6		25,651		1,456.7		(587.3	)		895.0
Net income		—		—		—		63.5			63.5
Change in net unrealized capital gains and losses		—		—		—		(47.4	)		(47.4	)
Change in net unrealized foreign exchange capital gains and losses		—		—		—		(1.4	)		(1.4	)
Change in net deferred income taxes		—		—		—		(11.1	)		(11.1	)
Change in nonadmitted assets		—		—		—		(34.5	)		(34.5	)
Change in asset valuation reserve		—		—		—		3.0			3.0
Change in surplus as a result of reinsurance		—		—		—		(32.7	)		(32.7	)

Balances as of December 31, 2024		25.6		25,651		1,456.7		(647.9	)		834.4
Net income		—		—		—		99.0			99.0
Change in net unrealized capital gains and losses		—		—		—		(59.6	)		(59.6	)
Change in net unrealized foreign exchange capital gains and losses		—		—		—		4.4			4.4
Change in net deferred income taxes		—		—		—		(17.5	)		(17.5	)
Change in nonadmitted assets		—		—		—		(15.7	)		(15.7	)
Change in asset valuation reserve		—		—		—		6.4			6.4
Change in surplus as a result of reinsurance		—		—		—		(28.0	)		(28.0	)

Balances as of December 31, 2025	$	25.6		25,651	$	1,456.7	$	(658.9	)	$	823.4

See accompanying notes to statutory financial statements.

F-6

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Statutory Statements of Cash Flow

Years ended December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	2025			2024			2023
Cash flow from operations:
Premiums collected net of reinsurance	$	156.0		$	172.2		$	231.7
Net investment income		514.6			510.2			538.7
Miscellaneous income		89.3			109.2			140.4

Total cash provided from revenues		759.9			791.6			910.8

Benefit and loss related payments		1,020.2			1,096.8			1,143.9
Net transfers from separate, segregated accounts, and protected cell accounts		(355.6	)		(360.8	)		(327.0	)
Commissions, expenses paid, and aggregate write-ins for deductions		230.8			243.2			236.4
Federal income taxes paid (recovered), net of capital gains (losses)		15.9			30.3			66.1

Total cash applied to benefits and general and other expenses		911.3			1,009.5			1,119.4

Net cash applied to operations		(151.4	)		(217.9	)		(208.6	)

Cash flow from investments:
Proceeds from investments sold, matured, or repaid:
Bonds		759.9			1,151.9			827.1
Stocks		7.0			7.8			8.4
Mortgage loans		211.5			171.3			91.9
Other invested assets		9.4			6.5			2.2
Miscellaneous proceeds		2.8			0.3			6.0

Total investment proceeds		990.6			1,337.8			935.6

Cost of investments acquired:
Bonds		314.6			769.1			238.4
Stocks		0.6			0.7			4.9
Mortgage loans		110.3			89.2			27.9
Real estate		0.1			1.1			—
Derivatives, net		40.7			105.0			99.8
Other invested assets		21.0			19.7			26.0
Miscellaneous applications		0.1			1.2			(2.9	)

Total investments acquired		487.4			986.0			394.1
Net decrease in contract loans and premium notes		0.9			(11.6	)		(8.2	)

Net cash provided by investments		502.3			363.4			549.7

Cash flow from financing and miscellaneous sources:
Cash applied:
Net deposits on deposit-type contracts and other insurance liabilities		(146.2	)		(167.6	)		(209.9	)
Other cash applied		(73.1	)		(57.3	)		(32.2	)

Net cash applied to financing and miscellaneous sources		(219.3	)		(224.9	)		(242.1	)

Net change in cash, cash equivalents and short-term investments		131.6			(79.4	)		99.0
Cash, cash equivalents and short-term investments:
Beginning of year		234.9			314.3			215.3

End of year	$	366.5		$	234.9		$	314.3

F-7

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

(1)

Corporate Structure, Basis of Presentation, and Summary of Significant Accounting Policies

(a) Corporate Structure

Genworth Life and Annuity Insurance Company (the “Company” or “GLAIC”) is a stock life insurance company operating under a charter granted by the Commonwealth of Virginia on March 21, 1871. The Company is licensed as a life insurer to do business in Bermuda, the District of Columbia and all states except for New York. The Company is wholly-owned by Genworth Life Insurance Company (“GLIC”), which is wholly-owned by Genworth North America Corporation (“GNA”), which is indirectly wholly-owned by Genworth Financial, Inc. (“Genworth”).

The following are the Company’s direct subsidiaries with percentage of ownership listed as of December 31, 2025:


Genworth Life Insurance Company of New York (“GLICNY”)	34.5	%
River Lake Insurance Company VI (“RLIC VI”)	100.0
River Lake Insurance Company X (“RLIC X”)	100.0
GNWLAAC Real Estate Holding, LLC (“GNWLAAC RE”)	100.0
Newco Properties, Inc. (“Newco”)	100.0
Jamestown Assignment Company, Inc. (“JAC”)	100.0
Assigned Settlement Inc. (“ASI”)	100.0

As of December 31, 2025, GNWLAAC RE, JAC and ASI were unaudited and fully nonadmitted.

(b) Nature of Business

The Company’s principal products are life insurance and fixed deferred and immediate annuities. Life insurance products provide protection against financial hardship after the death of an insured. Deferred annuities are investment vehicles intended for contractholders who want to accumulate tax-deferred assets for retirement, desire a tax-efficient source of income and seek to protect against outliving their assets. Immediate annuities provide a fixed amount of income for either a defined number of years, the annuitant’s lifetime or the longer of a defined number of years or the annuitant’s lifetime. In March 2016, Genworth suspended sales of traditional life insurance and fixed annuity products; however, the Company continues to service its existing retained and reinsured blocks of business.

The Company also has other products which have not been actively sold since 2011, but it continues to service its existing blocks of business. Those products include variable annuities, including group variable annuities offered through retirement plans; variable life insurance and funding agreements. Most of its variable annuities include guaranteed minimum death benefits (“GMDBs”). Some of the Company’s group and individual variable annuity products include guaranteed minimum benefit features such as guaranteed minimum withdrawal benefits (“GMWBs”) and certain types of guaranteed annuitization benefits.

(c) Basis of Presentation

The accompanying statutory financial statements of the Company have been prepared in conformity with accounting practices prescribed or permitted by the Virginia State Corporation Commission, Bureau of Insurance (the “Virginia Bureau”). These prescribed statutory accounting practices (“SAP”) include a variety of publications of the National Association of Insurance Commissioners (“NAIC”), including Statements of Statutory Accounting Principles (“SSAP”), as well as state laws, regulations, and general administrative rules. Permitted statutory accounting practices encompass all accounting practices not so prescribed.

Certain of the Company’s subsidiaries have permitted practices granted by their respective state of domicile as described in Note 2(b).

F-9

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

The preparation of financial statements requires management to make informed judgments and estimates that affect the reported amounts of assets and liabilities, including disclosure of contingent assets and liabilities, as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The Company considers its significant estimates to be those made for future policy benefits and claims. The Company also makes estimates for legal and regulatory reserves, certain investment and derivative valuations and valuation of deferred tax assets, if applicable. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform to the current year presentation.

(d) Differences Between SAP and U.S. GAAP

The effects on the financial statements of the variances between SAP and U.S. generally accepted accounting principles (“U.S. GAAP”), although not reasonably determinable, are presumed to be material. The principal differences between SAP and U.S. GAAP include:

•

Investments in bonds are generally carried at amortized cost under SAP. The amortized cost is written down when an impairment is deemed other-than-temporary. Under U.S. GAAP, investments in bonds are carried at fair value with changes recorded in accumulated other comprehensive income (loss). A temporary allowance is recorded for declines in fair value related to credit losses.

•

The carrying value of commercial mortgage loans is stated at principal amounts outstanding under SAP. Under U.S. GAAP, the carrying value of commercial mortgage loans is stated at principal amounts outstanding, net of unamortized premium or discount, deferred expenses and allowance for credit losses.

•

The change in the unrealized gains or losses on certain investments is recorded as an increase or decrease in statutory surplus under SAP. Under U.S. GAAP, such unrealized gains and losses are recorded as a component of comprehensive income (loss).

•

Investments in subsidiaries are generally carried on a statutory equity basis with equity in the earnings of subsidiaries reflected in unassigned surplus. Under U.S. GAAP, controlled subsidiaries are consolidated and results of operations are included in net income (loss).

•

Under SAP, derivative instruments are valued consistently with hedged items. Derivatives are recorded at amortized cost if the hedged item is recorded at amortized cost. Derivatives are recorded at fair value and surplus is adjusted for fair value changes, if the hedged item is also recorded at fair value. Derivative instruments that do not meet or no longer meet the criteria of a highly effective hedge (“non-qualifying derivatives”) are recorded at fair value and the changes in fair value are recorded as unrealized gains and losses in statutory surplus. Under U.S. GAAP, derivatives are recorded at fair value and changes in fair value are recorded in accumulated other comprehensive income (loss) for qualified cash flow hedges or net income (loss) (with an offsetting change in value for changes in the hedged item) for qualified fair value hedges and non-qualifying derivatives. To the extent that hedging relationships are highly effective, the derivatives’ impact on operations is limited to payments and receipts of periodic coupons.

•

Under SAP, embedded derivatives are carried consistently with the host instruments. Under U.S. GAAP, the embedded derivatives that are not clearly and closely related to the host are bifurcated and accounted for like any other free-standing derivative.

•

Interest maintenance reserve (“IMR”) represents the deferral of interest related realized gains and losses, net of tax, on primarily fixed maturity investments and interest rate derivatives which are amortized into operations over the remaining life of the investment sold under SAP. No such reserve is required under U.S. GAAP.

•

Asset valuation reserve (“AVR”) represents a contingency reserve for credit related risk on most invested assets of the Company, and is charged to statutory surplus under SAP. No such reserve is required under U.S. GAAP, but mortgage loans are recorded net of allowances for estimated uncollectible amounts.

F-10

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

•

Certain assets, principally furniture, equipment, prepaid expenses, agents’ balances, and certain deferred tax assets have been designated as nonadmitted assets and excluded from assets by a charge to statutory surplus under SAP. Under U.S. GAAP, such amounts are carried with an appropriate valuation allowance, when necessary.

•

Intangible assets such as present value of future profits and other adjustments, resulting from the Company’s acquisitions, are not recorded under SAP. Intangible assets such as goodwill are recorded under SAP and amortized. Under U.S. GAAP, the present value of future profits is recorded and amortized and goodwill is recorded at cost and tested for impairment using a fair value methodology at least annually.

•

Under SAP, a provision is established for unsecured reinsurance recoverable balances from unauthorized reinsurers with the change credited or charged to unassigned statutory surplus. In addition, any amounts over due by 90 days are nonadmitted. Under U.S. GAAP, an allowance is established for expected credit losses for reinsurance balances with any changes to this allowance reflected in operations for the period.

•

Under SAP, aggregate reserves for a majority of life insurance and fixed annuity products are based on statutory mortality and interest requirements without consideration for anticipated withdrawals. Variable annuity contracts are reserved for using a prescribed principles-based approach. Reserves for long-term care insurance (“LTC”) are based on morbidity assumptions derived from the Company’s experience. Asset adequacy analysis (for which the Company uses cash flow testing) is performed annually using best estimate assumptions with provisions for adverse deviation to determine if there is adequate margin when comparing assets to all future liabilities under moderately adverse conditions. If the margin is negative, the Company would be required to record additional statutory reserves in the statutory statements of admitted assets, liabilities and capital and surplus through the statutory statements of summary of operations. Under U.S. GAAP, reserves for term life insurance, life-contingent annuity, and LTC products are based on the present value of future benefits less the present value of future net premiums based on mortality, morbidity and other assumptions. Reserves for universal life insurance, term universal life insurance and non life-contingent annuity products are recognized by establishing a liability equal to the current account value of the policyholders’ contracts, with an additional reserve for certain guaranteed benefits. The U.S. GAAP liability uses best estimate cash flow assumptions, which are reviewed at least annually or more frequently if actual experience indicates a change is required. The change in the liability for future policy benefits resulting from cash flow assumption updates is recorded in the income statement.

•

Reserves are reported net of ceded reinsurance under SAP. Under U.S. GAAP, reserves relating to business in which the ceding company is not legally relieved of its liability are reported gross with an offsetting reinsurance receivable.

•

Under SAP, certain annuity contracts which do not pass through all investment gains to the contractholders are maintained in the separate accounts, whereas U.S. GAAP reports these contracts in the general account of the Company.

•

Policy acquisition costs are expensed as incurred under SAP. Under U.S. GAAP, costs that are related to the successful acquisition of new and renewal insurance policies and investment contracts are deferred and recognized on a constant-level basis.

•

Under SAP, the cumulative effect of changes in accounting principles are recorded as increases or decreases in statutory surplus. Under U.S. GAAP, cumulative effects of changes in accounting principles generally affect equity and net income (loss).

•

Under SAP, premiums of universal life insurance and deferred annuity contracts, including policy charges, are recorded as revenue when received. Under U.S. GAAP, policy charges are recorded as revenue when due, and the premiums are recorded as policyholder account balances.

•

Under SAP, Federal income taxes are provided for in the Company’s estimated current and deferred tax liability. Income taxes incurred include current year estimates of Federal income taxes due or refundable, based on tax returns for the current year and all prior years to the extent not previously provided. Deferred taxes are provided for differences between the financial statement basis and the tax basis of assets and liabilities. Changes in deferred tax

F-11

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

assets (“DTA”) and deferred tax liabilities (“DTL”) are recognized as a separate component of gains and losses in statutory unassigned surplus, while under U.S. GAAP, these changes are included in income tax expense or benefit. Under U.S. GAAP and SAP, gross DTAs are reduced by a valuation allowance if it is more likely than not that some portion or all of the assets will not be realized. The remaining adjusted gross DTA not meeting certain criteria outlined in SSAP No. 101, Income Taxes, are not admitted for SAP.

•

The Statutory Statements of Cash Flow differs in certain respects from the presentation required by U.S. GAAP, including the presentation of the changes in cash, cash equivalents and short-term investments instead of cash and cash equivalents. Short-term investments include securities with maturities of one year or less at the time of acquisition. For statutory purposes, there is no reconciliation between net income (loss) and cash from operations.

•

SAP does not require the presentation of a Statement of Comprehensive Income; however, U.S. GAAP does require a Statement of Comprehensive Income.

(e) Recognition of Revenue and Related Expenses

Scheduled life and accident and health insurance premiums and annuity considerations are recognized as revenue when due from policyholders with an unearned premium reserve provided for amounts unearned at the valuation date. Premiums and fund deposits for universal life insurance and single premium contracts are recognized as revenue when collected. Benefits, surrenders and withdrawals are expensed as incurred. All acquisition costs and maintenance expenses are charged to operations as incurred.

(f) Investments

Investments in bonds are generally stated at amortized cost except for bonds where the NAIC designation has fallen to six and the fair value has fallen below amortized cost, in which case they are carried at fair value. Debt securities that do not qualify as bonds are stated at amortized cost using the scientific method except where the fair value has fallen below amortized cost, in which case they are carried at fair value. Amortization of asset-backed securities and debt securities that do not qualify as bonds is based on prepayment assumptions that are updated at least quarterly. Significant changes of estimated cash flows from original purchase assumptions are accounted for using the retrospective adjustment method for all such securities that are reported with NAIC designations that are of high credit quality at the time of acquisition. Significant changes of estimated cash flows from original purchase assumptions are accounted for using the prospective adjustment method for all such securities that are not reported with NAIC designations that are of high credit quality at the time of acquisition and for securities that have been other than temporarily impaired. For securities which the Company recorded other-than-temporary impairment (“OTTI”) charges, the Company stops amortization until the security begins performing as anticipated, at which time the Company applies that prospective methodology for amortization. Amortization is accounted for using a method that approximates the scientific interest method. Prepayment assumptions for asset-backed securities and debt securities that do not qualify as bonds are based on internal estimates.

Investments in common stocks of unaffiliated companies are carried at fair value. Investments in common stocks of subsidiary controlled and affiliated (“SCA”) insurance companies are carried at the Company’s proportionate share of the audited statutory capital and surplus of the entity. Noninsurance SCAs are carried at the audited U.S. GAAP equity of the investee, adjusted for unamortized goodwill. Changes in the proportionate share of equity of such subsidiaries are recorded as unrealized gains and losses. Dividends from subsidiaries are recorded as net investment income when paid.

Investments in preferred stocks are carried at fair value.

Investments in short-term investments (maturity dates of one year or less from the acquisition date) are stated at amortized cost, which approximates fair value due to their short-term maturity. Money market funds are stated at fair value and classified as cash equivalents.

F-12

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

The Company regularly evaluates securities, excluding asset backed securities and debt securities that do not qualify as bonds, in an unrealized loss position for other-than-temporary impairments (“OTTI”). For these securities, the Company considers all available information relevant to the collectability of the securities, including information about past events, current conditions, and reasonable and supportable forecasts, when developing the estimate of cash flows expected to be collected. When it is determined that an impairment is other than temporary because the Company has made a decision to sell the security at an amount below its carrying value, or it is probable that the Company will not collect all amounts due based on the contractual terms of the security, the Company will recognize that an OTTI has occurred and record a realized loss equal to the difference between the security’s carrying value and its fair value.

For asset backed securities and debt securities that do not qualify as bonds, the Company also utilizes performance indicators of the underlying assets including defaults or delinquency rates, loan to collateral value ratios, third-party credit enhancements, current levels of subordination, collateral vintage and other relevant characteristics of the underlying assets or the security to develop its estimate of cash flows. Estimating the expected cash flows is a quantitative and qualitative process that incorporates information received from third-party sources along with certain internal assumptions and judgments regarding the future performance of the underlying collateral. Where possible, this data is benchmarked against third-party sources. When it is determined that an impairment is other than temporary because it is probable that the Company will not collect all amounts due based on the contractual terms of the security, even if the Company has no intent to sell and has the intent and ability to hold to recovery, the Company will recognize a realized loss equal to the difference between the carrying value of the security and the present value of the expected cash flows. Under circumstances whereby the Company has the intent to sell or does not have the ability and intent to hold to recovery, the security is impaired to its fair value.

In addition, for certain asset-backed securities in an unrealized loss position, management also evaluates whether it has the intent and ability to retain the investment for a period of time sufficient to recover the amortized cost basis.

Investments in real estate are stated at depreciated cost. As of December 31, 2025 and 2024, the Company’s investment in real estate consisted of properties occupied by the Company of $10.9 and $11.5, respectively.

Newco, a noninsurance subsidiary, owns and leases certain properties occupied by the Company and its affiliates.

Mortgage loans are stated at principal amounts outstanding, net of discounts, premiums, and valuation allowances. Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Premiums and discounts are amortized as level yield adjustments over the respective loan terms.

GNWLAAC RE, a noninsurance subsidiary, at times owns certain mortgage loans contributed by the Company. GNWLAAC RE will take possession of real estate through, or in lieu of, foreclosure on its loans. The transfers are recorded at the lower of book value or fair value at the date of transfer. GNWLAAC RE was nonadmitted as of December 31, 2025 and 2024.

Impaired loans are defined by SSAP No. 37, Mortgage Loans, as loans for which it is probable that the Company will be unable to collect all amounts due according to original contractual terms of the loan agreement. In determining whether it is probable that the Company will be unable to collect all amounts due, the Company considers current payment status, debt service coverage ratios, occupancy levels and current loan-to-value. For individually impaired loans, the Company records an impairment charge when it is probable that a loss has occurred. Impaired loans are carried on a non-accrual status. Loans are placed on non-accrual status when, in management’s opinion, the collection of principal or interest is unlikely, or when the collection of principal or interest is 90 days or more past due. Income on impaired loans is not recognized until the loan is sold or the cash received exceeds the carrying amount recorded.

Investments in joint ventures, partnerships or limited liability companies are stated based on the underlying audited U.S. GAAP equity adjusted for any unamortized goodwill. Changes in the proportionate share of these investments are recorded

F-13

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

as unrealized gains and losses. The cost basis and carrying value of joint ventures and limited partnership investments are adjusted for impairments in value deemed to be other than temporary, with associated realized loss reported in net income (loss).

Realized investment gains and losses, determined on a specific identification basis and recorded on the trade date, are reduced by amounts transferred to IMR and are reflected as an element of net income (loss), net of related tax. For bonds carried at fair value, the difference between amortized cost and fair value is reflected as unrealized gains and losses on investments in unassigned surplus. Changes in fair values of common stocks, preferred stocks and changes in statutory equity of subsidiaries are reflected as unrealized gains and losses on investments in unassigned surplus.

The Company may from time to time participate in a program managed by an unaffiliated financial institution in which it lends securities to brokers or other parties. The Company receives collateral for the loaned securities which can consist of cash or government securities, on a daily basis, in amounts equal to or exceeding 102% of the fair value of the applicable securities loaned. Currently, the Company only accepts cash collateral from borrowers under the program. As of December 31, 2025 and 2024, there were no loaned securities or collateral held.

Sales of securities to affiliates are considered economic transactions and are accounted for at fair value, with interest related gains and losses transferred to IMR.

(g) Fair Value Measurements

The Company may from time to time hold certain long-term bonds, common and preferred stocks, derivatives, securities held as collateral, and separate account assets which are carried at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Fair value measurements are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect a view of market assumptions in the absence of observable market information. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. All assets carried or disclosed at fair value are classified and disclosed in one of the following three categories:

•

Level 1 — Quoted prices for identical instruments in active markets.

•

Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

•

Level 3 — Instruments whose significant value drivers are unobservable.

Level 1 primarily consists of separate account assets and financial instruments whose value is based on quoted market prices such as actively traded equity securities and actively traded mutual fund investments.

Level 2 includes those financial instruments that are valued using industry-standard pricing methodologies, models or other valuation methodologies. These models are primarily industry-standard models that consider various inputs, such as interest rate, credit spread and foreign exchange rates for the underlying financial instruments. All significant inputs are observable, or derived from observable information, in the marketplace or are supported by observable levels at which transactions are executed in the marketplace. Financial instruments in this category primarily include: certain public and private corporate bonds; government or agency securities; certain mortgage-backed and asset-backed securities; securities held as collateral; and certain non-exchange-traded derivatives such as interest rate swaps.

F-14

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

Level 3 is comprised of financial instruments whose fair value is estimated based on industry-standard pricing methodologies and internally developed models utilizing significant inputs not based on, nor corroborated by, readily available market information. In limited instances, this category may also utilize non-binding broker quotes. This category primarily consists of certain less liquid bonds and preferred stocks, and certain derivative instruments where the Company cannot corroborate the significant valuation inputs with market observable data.

As of each reporting period, all assets and liabilities recorded or disclosed at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability, such as the relative impact on the fair value from including a particular input. The Company reviews the fair value hierarchy classifications each reporting period. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in and out of Level 3 at the beginning fair value for the reporting period in which the changes occur.

The valuation of financial futures is based on the closing exchange prices. Accordingly, these financial futures are classified as Level 1.

The valuation of equity index options is determined using an income approach. The primary inputs into the valuation are forward interest rate volatility and a time value component associated with the optionality in the derivative, which are considered significant unobservable inputs in most instances. The equity index volatility surface is determined based on market information that is not readily observable and is developed based upon inputs received from several third-party sources. Accordingly, these options are classified as Level 3.

The valuation of cross currency swaps is determined using an income approach. The primary inputs into the valuation represent the forward interest rate swap curve and foreign currency exchange rates, both of which are considered an observable input, and results in the derivative being classified as Level 2.

The valuation of bond purchase commitments is determined using an income approach. The primary inputs into the valuation represent current bond prices and interest rates, as well as an estimate of the cost of counterparty financing to acquire and carry the bond during the forward period. The estimated cost of counterparty financing is not readily observable and is developed based upon an assumed spread; accordingly, these derivatives are classified as Level 3.

The fair value of the majority of separate account assets is based on the quoted price of the underlying fund investments and, therefore, represents Level 1 pricing. The remaining separate account assets represent Level 2 pricing, as defined above.

(h) Investment Income Due and Accrued

Accrued investment income consists primarily of interest and dividends. Interest is recognized on an accrual basis and dividends are recorded as earned on the ex-dividend date. Due and accrued income is not recorded on: (a) bonds in default and (b) bonds delinquent more than 90 days or where collection of interest is improbable. As of December 31, 2025 and 2024, the Company’s nonadmitted investment income due and accrued was zero.

(i) Nonadmitted Assets

Certain assets, principally furniture, equipment, agents’ debit balances, certain amounts related to investments in or near default, prepaid expenses, and certain deferred income tax assets have been designated as nonadmitted assets and are excluded from assets by a charge to statutory surplus. Changes in these nonadmitted assets are presented as changes in unassigned surplus.

F-15

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

(j) Aggregate Reserves and Liability for Deposit-Type Contracts

Policy reserves on non-variable annuity and supplementary contracts are calculated using the Commissioners’ Annuity Reserve Valuation Method. The valuation interest assumptions follow the Standard Valuation Law and vary by the contracts’ characteristics and their issue year.

Variable annuity reserves follow the reserve requirements prescribed in the NAIC Valuation Manual-21: Requirements for Principle-Based Reserves for Variable Annuities.

Policy reserves on life insurance contracts are based on statutory mortality and valuation interest rates using the Commissioner’s Reserve Valuation Method without consideration of withdrawals. The valuation interest and mortality assumptions follow the Standard Valuation Law and vary by the contracts’ characteristics and their issue year.

Valuation methods provide, in the aggregate, reserves that are greater than or equal to the minimum guaranteed policy cash values or the amount required by law.

Accident and health benefit reserves are developed by actuarial methods and are determined based on published tables using specified statutory interest rates and mortality. Morbidity assumptions are based on Company experience.

Liability for deposit-type contracts represents contracts without significant mortality or morbidity risk. Payments received from sales of deposit-type contracts are recognized by providing a liability equal to the current value of the policyholders’ contracts. Interest rates credited to these contracts are based on the applicable terms of the respective contract.

(k) Liability for Policy and Contract Claims

The liability for policy and contract claims represents the amount needed to provide for the estimated cost of settling due and unpaid claims relating to insured events that have occurred on or before the end of the respective reporting period. The estimated liability includes requirements for payments of claims that have been reported to the insurer, and claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated.

Management considers the liability for policy and contract claims provided to be satisfactory to cover the losses that have occurred. Management monitors actual experience, and where circumstances warrant, will revise its assumptions. The methods of determining such estimates and establishing the liability are reviewed continuously and any adjustments are reflected in operations in the period in which they become known. Future developments may result in losses greater or less than the liability for policy and contract claims provided.

(l) Interest Maintenance Reserve

IMR represents the deferral of interest-related realized capital gains and losses, net of tax, on primarily fixed maturity investments and interest rate derivatives. These gains and losses are amortized into income (loss) on a level yield method, based on statutory factor tables over the estimated remaining life of the investment sold or called.

(m) Asset Valuation Reserve

AVR is a contingency reserve for credit-related losses on most investments and is recorded as a liability through a charge to statutory surplus. The reserve is calculated based on credit quality using factors provided by the NAIC.

(n) Federal Income Taxes

The Company determines DTAs and/or DTLs by multiplying the differences between the statutory financial reporting and tax reporting bases for assets and liabilities by the enacted tax rates expected to be in effect when such differences are

F-16

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

recovered or settled if there is no change in law. The effect on deferred taxes of a change in tax rates is recognized in unassigned deficit in the period that includes the enactment date. Valuation allowances on DTAs are estimated based on the Company’s assessment of the realizability of such amounts.

(o) Reinsurance

Premiums, commissions, expense reimbursement, claim, and claim adjustment expenses related to reinsured business are accounted for on a basis consistent with that used in accounting for the original policies issued and with the terms of the reinsurance contracts and are reported net of amounts ceded to other companies.

A liability has been provided for unsecured policy reserves on reinsurance ceded to companies not authorized to assume business in the state of domicile and is included in reinsurance in unauthorized companies. Changes in this liability are reported directly in unassigned surplus.

Policy and contract liabilities ceded have been reported as reductions to the related reserves.

(p) Guaranty Association Assessments

The Company is required by law to participate in the guaranty associations of the various states in which it is licensed to do business. The state guaranty associations ensure payment of guaranteed benefits, with certain restrictions, to policyholders of impaired or insolvent insurance companies by assessing all other companies involved in similar lines of business. See Note 7(b).

(q) Derivative Instruments

Derivative instruments used in hedging transactions that meet the criteria of a highly effective hedge are valued and reported consistently with the hedged items. Derivative instruments used in hedging transactions that do not meet or no longer meet the criteria of an effective hedge shall be valued at fair value with the changes in fair value recorded as unrealized gains and losses in statutory surplus.

The Company uses cross currency swaps, equity index options, bond purchase commitments, and financial futures for hedging. Interest rate futures are used to reduce market risks from changes in interest rates and to alter interest rate exposures arising from mismatches between assets and liabilities. Equity index options and equity futures are used to hedge the equity market risks that are part of some of the Company’s annuity liabilities. Bond purchase commitments are used to lock in prices of future bond purchases.

The Company uses cross currency swaps to reduce market risks from changes in foreign currency rates and to alter interest rate exposure arising from mismatches between assets and liabilities. In a cross currency swap transaction, the Company agrees with another party to exchange, at specified intervals, the difference between one currency and another at a forward exchange rate calculated by reference to an agreed upon principal amount. The principal amount of each currency is exchanged at the inception and termination of the currency swap by each party.

Cross currency swaps and bond purchase commitments that qualify for hedge accounting are carried at amortized cost while non-qualifying equity options and financial futures are carried at fair value with changes in fair value recorded in statutory surplus. Realized investment gains and losses from derivatives that qualify for hedge accounting are reduced by amounts transferred to IMR and are reflected as an element of investment income, net of investment and interest expenses. Any fees associated with swaps are held in surplus and the full fee amount will be recognized in income at the time of termination.

The Company reports net cash flows from the purchase or termination of derivative instruments as cash flows from investing activities in the Statutory Statements of Cash Flow.

F-17

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

(r) Experience Refunds

Experience refunds are calculated in accordance with the applicable reinsurance agreements. Experience refunds are primarily determined by claims experience on the ceded blocks, in addition to numerous factors that include profitability of the Company during the period covered by the refund and capitalization levels of the Company.

(s) Going Concern

The Company’s management does not have any doubts about the Company’s ability to continue as a going concern within one year from the date the statutory financial statements were issued.

(t) Accounting Changes

In March and May 2025, the NAIC adopted revisions to SSAP No. 1, Accounting Policies, Risks & Uncertainties, and Other Disclosures, effective December 31, 2025. The revisions clarify and expand restricted asset disclosures to include assets under modified coinsurance (“Modco”) and funds withheld (“FWH”) agreements and identify differences between the restricted asset annual statement disclosure and the amount reported in the annual statement general interrogatories. Additionally, these revisions expand restricted asset disclosures to capture the book/adjusted carrying value of Modco and FWH assets by investment schedule and to include breakdowns by related party codes for assets affiliated with the reinsurer. These revisions expanded disclosures but did not have an impact on the Company’s financial statements. See Note 2.

In August 2023, the NAIC adopted revisions to SSAP No. 26, Bonds, and SSAP No. 43, Asset-Backed Securities, effective January 1, 2025. The revisions adopt a principles-based bond definition for determining the investments eligible for bond accounting and reporting as issuer credit obligations (“ICO”) and asset-backed securities (“ABS”). The Company adopted the revisions prospectively effective January 1, 2025. Upon adoption, the Company did not have any bonds that failed to qualify as bonds under the revised guidance. Accordingly, Note 2 reflects the adopted revisions for 2025 disclosures, while the 2024 disclosures reflects the prior guidance.

In March 2023, the NAIC adopted modifications to SSAP No. 34, Investment Income Due and Accrued, effective December 31, 2023. The modifications require additional disclosures related to gross, non-admitted and admitted amounts for interest income due and accrued, deferred interest, and paid-in-kind (“PIK”) interest. See Note 2.

F-18

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

(2)

Investments

(a) Bonds and Preferred and Common Stocks

As of December 31, 2025 and 2024, the carrying value, gross unrealized gains and losses, and fair value of the Company’s bonds and preferred and common stocks, excluding stocks of affiliates, were as follows:


	2025
			Gross unrealized gains				Gross unrealized losses
	Carrying value		Not OTTI		OTTI		Not OTTI			OTTI		Fair value
ICO:
U.S. government obligations (exempt from RBC):	$	569.2	$	0.6	$	—	$	(89.3	)	$	—	$	480.5
Other U.S. government obligations (not exempt from RBC):		19.8		1.2		—		—			—		21.0
Non-U.S. sovereign jurisdiction securities:		268.6		5.6		—		(37.0	)		—		237.2
Municipal bonds — general obligation (direct and guaranteed):		93.4		1.1		—		(3.1	)		—		91.4
Municipal bonds — special revenue:		227.9		1.4		—		(20.2	)		—		209.1
Project finance bonds issued by operating entities:		191.4		2.0		—		(19.5	)		—		173.9
Corporate bonds:		5,683.0		95.2		—		(530.3	)		—		5,247.9
Single entity backed obligations:		79.9		1.0		—		(4.3	)		—		76.6
Bonds issued by funds representing operating entities		329.1		0.6		—		(25.8	)		—		303.9
Bank loans — issued:		28.8		0.1		—		(0.1	)		—		28.8
Other ICO:		10.9		0.4		—		(0.4	)		—		10.9

Total ICO:		7,502.0		109.2		—		(730.0	)		—		6,881.2
ABS:
Agency residential mortgage-backed securities — fully guaranteed (exempt from RBC):		9.0		0.4		—		—			—		9.4
Agency commercial mortgage-backed securities — fully guaranteed (exempt from RBC):		274.4		—		—		(60.7	)		—		213.7
Agency residential mortgage-backed securities — not/ partially guaranteed (not exempt from RBC):		201.3		3.5		—		(5.0	)		—		199.8
Non-Agency residential mortgage-backed securities:		78.7		—		—		(8.0	)		—		70.7
Non-Agency commercial mortgage-backed securities:		83.4		—		—		(5.8	)		—		77.6
Non-Agency — CLOs/CBOs/CDOs:		25.1		—		—		—			—		25.1
Other financial ABS — self-liquidating:		15.1		0.1		—		—			—		15.2
Equity-backed securities:		12.3		0.1		—		—			—		12.4
Lease-backed transactions (practical expedient):		15.9		0.1		—		—			—		16.0
Other non-financial ABS (practical expedient):		26.1		—		—		(2.1	)		—		24.0
Lease-backed transactions (full analysis):		35.0		0.6		—		(0.1	)		—		35.5
Other non-financial ABS (full analysis):		107.7		0.6		—		(3.2	)		—		105.1

Total ABS:		884.0		5.4		—		(84.9	)		—		804.5
Preferred and common stocks (nonaffiliates):		76.9		—		—		—			—		76.9

Total bonds and preferred and common stocks	$	8,462.9	$	114.6	$	—	$	(814.9	)	$	—	$	7,762.6

F-19

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	2024
			Gross unrealized gains				Gross unrealized losses
	Carrying value		Not OTTI		OTTI		Not OTTI			OTTI		Fair value
Bonds:
U.S. government and U.S. government agencies	$	536.0	$	0.7	$	—	$	(90.2	)	$	—	$	446.5
All other governments		149.3		0.9		—		(21.8	)		—		128.4
States, territories, and possessions		100.7		0.3		—		(2.3	)		—		98.7
Special revenue and special assessment obligations		322.1		5.7		—		(27.9	)		—		299.9
Industrial and miscellaneous		6,767.6		50.3		—		(733.2	)		—		6,084.7
Bank loans — industrial and miscellaneous		8.8		0.0		—		—			—		8.8
Residential mortgage-backed		317.6		1.4		—		(21.8	)		—		297.2
Commercial mortgage-backed		398.7		—		—		(83.2	)		—		315.5
Other asset-backed and structured securities		187.8		0.7		—		(4.3	)		—		184.2
Hybrids		20.3		0.5		—		(0.1	)		—		20.7

Total bonds		8,808.9		60.5		—		(984.8	)		—		7,884.6
Preferred and common stocks — nonaffiliates		80.5		1.0		—		—			—		81.5

Total bonds and preferred and common stocks	$	8,889.4	$	61.5	$	—	$	(984.8	)	$	—	$	7,966.1

Gross unrealized losses in the tables above include declines in the fair value of certain bonds below carrying value, where an OTTI has not occurred as the Company does not intend to sell, has the intent and ability to retain the investment for a period of time sufficient to recover the entire amortized cost basis of the investment and otherwise expects to recover the entire amortized cost basis of the investment. In addition, gross unrealized losses include declines in the fair value below the carrying value for certain bonds that have been other-than-temporarily impaired and were written down to their discounted estimated future cash flows, which were greater than their fair value, as the Company does not expect to recover the entire amortized cost basis of these bonds based on its estimate of future cash flows to be collected, despite not having the intent to sell and having the intent and ability to retain the investment for a period of time sufficient to recover the amortized cost basis.

As of December 31, 2025, the scheduled contractual maturity distribution of the ICO bond portfolio was as follows:


	2025
	Carrying value		Fair value
Due in one year or less	$	180.6	$	180.7
Due after one year through five years		902.9		901.6
Due after five years through ten years		1,060.0		1,050.9
Due after ten years through twenty years		2,345.2		2,190.3
Due after twenty years		3,013.3		2,557.7

Totals	$	7,502.0	$	6,881.2

Actual and expected maturities may differ from scheduled contractual maturities because issuers of securities may have the right to call or prepay obligations with or without call or prepayment penalties.

As required by law, the Company has investments on deposit with governmental authorities and banks for the protection of policyholders with a statement value of $7.6 and $7.5 as of December 31, 2025 and 2024, respectively.

F-20

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

The vast majority of the Company’s portfolio is rated investment grade and are senior secured bonds. The Company’s portfolio is widely diversified among various geographic regions in the United States, and is not dependent on the economic stability of one particular region.

As of December 31, 2025 and 2024, the Company did not hold any investments in any single issuer, other than securities issued or guaranteed by the U.S. government or money market securities, which exceeded 10% of capital and surplus.

The credit quality mix of the bond portfolio as of December 31, 2025 and 2024 was as follows. The quality ratings represent NAIC designations.


	2025					2024
	Carrying value		Percent			Carrying value		Percent
Class 1 — highest quality	$	4,596.0		54.8	%	$	4,584.6		52.0	%
Class 2 — high quality		3,503.4		41.8			3,921.1		44.5
Class 3 — medium quality		264.1		3.1			281.8		3.2
Class 4 — low quality		21.4		0.3			16.2		0.2
Class 5 — lower quality		1.1		—			5.2		0.1
Class 6 — in or near default		—		—			—		—

Totals	$	8,386.0		100.0	%	$	8,808.9		100.0	%

Bonds with ratings categories ranging from AAA/Aaa to BBB/Baa, as assigned by a rating service such as Standard & Poor’s Financial Services LLC or Moody’s Investors Service, Inc., are generally regarded as investment grade securities. Some agencies and treasuries (that is, those securities issued by the U.S. government or an agency thereof) are not rated, but all are considered to be investment grade securities. The NAIC regards agencies and treasuries and all A ratings as Class 1 (highest quality), BBB/Baa ratings as Class 2 (high quality), BB/Ba ratings as Class 3 (medium quality), B ratings as Class 4 (low quality), CCC/Caa ratings as Class 5 (lower quality), and CC/Ca or below ratings as Class 6 (in or near default).

There were no bonds in default as of December 31, 2025 and 2024.

(b) Common Stocks of Affiliates

The Company’s investment in common stocks of affiliates as of December 31, 2025 and 2024 included its proportionate ownership percentage as disclosed in Note 1(a), except as disclosed below. The following tables summarize data from the statutory financial statements of the Company’s insurance company subsidiaries as of and for the years ended December 31, 2025, 2024 and 2023:


	GLICNY		RLIC VI¹		RLIC X¹
2025
Total admitted assets	$	6,747.4	$	1,669.5	$	851.0
Total liabilities		6,525.4		1,595.7		819.2
Total capital and surplus		222.0		73.8		31.8
Net income		1.4		117.6		21.9

2024
Total admitted assets	$	6,849.0	$	1,877.2	$	879.9
Total liabilities		6,630.8		1,803.1		852.8
Total capital and surplus		218.2		74.1		27.1
Net income (loss)		4.7		100.4		28.4

F-21

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	GLICNY			RLIC VI¹		RLIC X¹

2023
Total admitted assets	$	7,050.7		$	2,038.2	$	926.6
Total liabilities		6,838.8			1,966.5		901.5
Total capital and surplus		211.9			71.7		25.1
Net income		(1.1	)		80.3		13.5

¹	As of December 31, 2025 and 2024, the Company carried its investment in the subsidiary at zero.

As of December 31, 2025 and 2024, the Company’s investment in GLICNY was $76.6 and $75.3, respectively.

Effective December 1, 2021, RLIC X was granted a permitted practice from the Vermont Department of Financial Regulation to record an excess of loss (“XOL”) reinsurance agreement with Hannover Life Reassurance Company of America (“Hannover”) as a gross admitted asset and as paid in surplus.

Effective December 1, 2019, RLIC VI entered into an XOL reinsurance agreement (the “RLIC VI XOL Treaty”) with Canada Life Assurance Company (“Canada Life”), operating through its Barbados branch and the Company. The Company requested and was subsequently granted effective December 1, 2019, a permitted practice from the Delaware Department of Insurance (“Delaware Department”) pursuant to Title 18, Sections 6907 and 6962 of the Delaware Insurance Code. RLIC VI is permitted to record the portion of the XOL coverage amount pursuant to the RLIC VI XOL Treaty allocable to the universal life insurance contracts as a gross admitted asset and as paid in surplus. Effective December 1, 2021, RLIC VI was granted a permitted practice from the Delaware Department whereby RLIC VI is permitted to record the portion of the XOL coverage amount pursuant to the RLIC VI XOL Treaty allocable to the term life insurance policies as a gross admitted asset and as paid in surplus.

The Company has an investment in Newco which is audited and fully admitted at audited U.S. GAAP equity in common stock of affiliates. As of December 31, 2025 and 2024, the Company’s investment in Newco was $26.7 and $43.8, respectively, with the decrease primarily due to a dividend paid by Newco to the Company in 2025. See Note 5.

As of December 31, 2025 and 2024, GNWLAAC RE, JAC and ASI were unaudited and nonadmitted.

(c) Mortgage Loans

As of December 31, 2025 and 2024, the Company’s mortgage loan portfolio consisted of 319 and 351, respectively, of first lien commercial mortgage loans. The loans, which were originated by the Company through a network of mortgage bankers, were made only on developed and leased properties and had a maximum loan-to-value ratio of 75% as of the date of origination. The Company does not engage in construction lending or land loans. The maximum and minimum lending rates for new mortgage loans during 2025 were 7.3% and 4.6%, respectively.

The Company’s mortgage loans are collateralized by commercial properties, including multi-family residential buildings. The carrying value of mortgage loans is stated at original cost net of prepayments and amortization.

F-22

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

The Company diversifies its mortgage loans by both property type and geographic region. The following tables set forth the distribution across property type and geographic region for mortgage loans as of December 31, 2025 and 2024:


	2025					2024
Property type	Carrying value		Percent of total			Carrying value		Percent of total
Retail	$	577.0		38.5	%	$	622.8		38.9	%
Industrial		377.8		25.2			380.3		23.8
Office		368.4		24.6			397.2		24.8
Mixed use		88.6		5.9			99.4		6.2
Apartments		61.6		4.1			73.2		4.6
Other		24.8		1.7			26.5		1.7

Total principal balance	$	1,498.2		100.0	%	$	1,599.4		100.0	%


	2025					2024
Geographic region	Carrying value		Percent of total			Carrying value		Percent of total
South Atlantic	$	430.6		28.7	%	$	465.1		29.1	%
Pacific		258.5		17.2			270.8		16.9
Mountain		180.6		12.1			182.3		11.4
Middle Atlantic		165.8		11.1			166.3		10.4
West South Central		126.1		8.4			123.7		7.7
West North Central		122.6		8.2			142.1		8.9
East North Central		119.5		8.0			129.6		8.1
East South Central		49.6		3.3			72.8		4.6
New England		44.9		3.0			46.7		2.9

Total principal balance	$	1,498.2		100.0	%	$	1,599.4		100.0	%

Mortgage loans are considered past due when contractual payments have not been received from the borrower by the required payment date. The Company had two loans and zero loans greater than 30 days past due as of December 31, 2025 and 2024, respectively. The Company had no impaired loans as of December 31, 2025 and 2024.

The following table sets forth the age analysis of mortgage loans and identification of mortgage loans in which the insurer is a participant or co-lender in a mortgage loan agreement as of December 31, 2025 and 2024:


	2025									2024
	Commercial									Commercial
	Insured			All Other			Total			Insured			All Other			Total
Recorded investment (All)
Current (less than 30 days past due)	$	—		$	1,494.9		$	1,494.9		$	—		$	1,599.4		$	1,599.4
30-59 days past due		—			3.3			3.3			—			—			—
Interest reduced
Recorded investment	$	—		$	—		$	—		$	—		$	—		$	—
Number of loans		—			—			—			—			—			—
Percent reduced		—	%		—	%		—	%		—	%		—	%		—	%
Participant or co-lender in a mortgage loan agreement
Recorded investment	$	—		$	26.0		$	26.0		$	—		$	—		$	—

F-23

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

As of December 31, 2025 and 2024, the Company held no farm, mezzanine or residential mortgage loans.

During the years ended December 31, 2025 and 2024, the Company did not have any modifications or extensions that were considered troubled debt restructurings.

In evaluating the credit quality of mortgage loans, the Company assesses the performance of the underlying loans using both quantitative and qualitative criteria. Certain risks associated with mortgage loans can be evaluated by reviewing both the loan-to-value and debt service coverage ratios to understand both the probability of the borrower not being able to make the necessary loan payments as well as the ability to sell the underlying property for an amount that would enable the Company to recover its unpaid principal balance in the event of default by the borrower. A higher debt service coverage ratio indicates the borrower is less likely to default on the loan. The debt service coverage ratio should not be used without considering other factors associated with the borrower, such as the borrower’s liquidity or access to other resources that may result in the Company’s expectation that the borrower will continue to make the future scheduled payments. A lower loan-to-value indicates that its loan value is more likely to be recovered in the event of default by the borrower if the property was sold.

The Company monitors mortgage loan concentration by state. California is the only state exceeding 10% of the total mortgage loan portfolio. During the years ended December 31, 2025, 2024 and 2023, the Company originated $25.2, $6.8, and $3.8, respectively, in mortgage loans secured by real estate in California. As of December 31, 2025 and 2024, the Company held $157.6 and $160.0, respectively, of mortgages secured by real estate in California, which was 10.5% and 10.0%, respectively, of its total mortgage portfolio.

The following tables set forth the average loan-to-value of mortgage loans by property type as of December 31, 2025 and 2024:


	2025 Average loan-to-value⁽¹⁾
Property type	0%-50%			51%-60%			61%-75%			76%-100%			Greater than 100%			Total
Retail	$	279.5		$	116.9		$	176.8		$	3.8		$	—		$	577.0
Industrial		166.9			50.7			160.2			—			—			377.8
Office		52.6			67.0			170.0			78.8			—			368.4
Mixed use		1.9			15.2			56.5			—			15.0			88.6
Apartments		27.1			19.5			15.0			—			—			61.6
Other		8.3			13.7			2.8			—			—			24.8

Total	$	536.3		$	283.0		$	581.3		$	82.6		$	15.0		$	1,498.2

Percent of total		35.8	%		18.9	%		38.8	%		5.5	%		1.0	%		100.0	%

Weighted-average debt service coverage ratio⁽²⁾		2.5			2.0			1.5			1.3			0.8			1.9

⁽¹⁾	Average loan-to-value is based on the Company’s most recent estimate of the fair value for the underlying property as of the date indicated above. Values are evaluated at least annually and updated more frequently if necessary to better indicate risk associated with the loan.

⁽²⁾

Debt service coverage ratio is based on “normalized” annual net operating income of the property compared to the payments required under the terms of the loan. Normalization allows for the removal of annual one-time events such as capital expenditures, prepaid or late real estate tax payments or non-recurring third-party fees (such as legal, consulting or contract fees). This ratio is evaluated at least annually and updated more frequently if necessary to better indicate risk associated with the loan.

F-24

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	2024 Average loan-to-value⁽¹⁾
Property type	0%-50%			51%-60%			61%-75%			76%-100%			Greater than 100%			Total
Retail	$	265.0		$	146.2		$	211.6		$	—		$	—		$	622.8
Office		51.9			40.1			199.6			105.6			—			397.2
Industrial		156.9			82.1			137.5			3.8			—			380.3
Mixed use		9.0			6.8			68.6			—			15.0			99.4
Apartments		39.5			3.7			30.0			—			—			73.2
Other		9.5			14.2			2.8			—			—			26.5

Total	$	531.8		$	293.1		$	650.1		$	109.4		$	15.0		$	1,599.4

Percent of total		33.3	%		18.3	%		40.7	%		6.8	%		0.9	%		100.0	%

Weighted-average debt service coverage ratio⁽²⁾		2.4			1.8			1.6			1.5			0.8			1.9

⁽¹⁾	Average loan-to-value is based on the Company’s most recent estimate of the fair value for the underlying property as of the date indicated above. Values are evaluated at least annually and updated more frequently if necessary to better indicate risk associated with the loan.

⁽²⁾

The following tables set forth the debt service coverage ratio for fixed rate mortgage loans by property type as of December 31, 2025 and 2024:


	2025 Debt service coverage ratio — fixed rate⁽¹⁾
Property type	Less than 1.00			1.00 – 1.25			1.26 – 1.50			1.51 – 2.00			Greater than 2.00			Total
Retail	$	9.7		$	10.8		$	75.6		$	265.0		$	215.9		$	577.0
Industrial		5.1			13.7			57.8			124.2			177.0			377.8
Office		58.6			56.7			45.7			97.5			109.9			368.4
Mixed use		15.0			7.4			15.3			41.7			9.2			88.6
Apartments		4.9			—			7.2			29.6			19.9			61.6
Other		—			—			13.7			2.8			8.3			24.8

Total	$	93.3		$	88.6		$	215.3		$	560.8		$	540.2		$	1,498.2

Percent of total		6.2	%		5.9	%		14.4	%		37.4	%		36.1	%		100.0	%

Weighted-average loan-to-value⁽²⁾		81.4	%		70.4	%		61.6	%		59.4	%		43.5	%		56.0	%

⁽¹⁾

⁽²⁾	Average loan-to-value is based on the Company’s most recent estimate of the fair value for the underlying property as of the date indicated above. Values are evaluated at least annually and updated more frequently if necessary to better indicate risk associated with the loan.

F-25

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	2024 Debt service coverage ratio — fixed rate⁽¹⁾
Property type	Less than 1.00			1.00 – 1.25			1.26 – 1.50			1.51 – 2.00			Greater than 2.00			Total
Retail	$	18.4		$	15.7		$	145.1		$	250.2		$	193.4		$	622.8
Office		52.4			15.4			74.3			141.9			113.2			397.2
Industrial		—			10.3			75.6			160.0			134.4			380.3
Mixed use		27.2			23.8			17.2			28.0			3.2			99.4
Apartments		—			1.9			6.7			39.4			25.2			73.2
Other		—			14.2			2.5			2.8			7.0			26.5

Total	$	98.0		$	81.3		$	321.4		$	622.3		$	476.4		$	1,599.4

Percent of total		6.1	%		5.1	%		20.1	%		38.9	%		29.8	%		100.0	%

Weighted-average loan-to-value⁽²⁾		78.6	%		58.1	%		65.5	%		60.2	%		43.5	%		57.3	%

⁽¹⁾

⁽²⁾	Average loan-to-value is based on the Company’s most recent estimate of the fair value for the underlying property as of the date indicated above. Values are evaluated at least annually and updated more frequently if necessary to better indicate risk associated with the loan.

As of December 31, 2025 and 2024, the Company did not have any floating rate mortgage loans.

(d) Derivative Instruments

The Company uses exchange-traded futures to reduce the market risks from changes in interest rates and equity indexes. Under exchange traded financial futures, the Company purchases or sells a futures contract on an exchange and posts variation margin to the exchange on a daily basis in an amount equal to the difference in the daily market values of those contracts. The Company accesses the exchange through regulated futures commission merchants who are members of a trading exchange.

The Company also purchases over-the-counter equity index call and put options to hedge the risk embedded in the Company’s annuity liabilities. These transactions are entered into pursuant to an International Swaps and Derivatives Association, Inc (“ISDA”) Master Agreement. The Company may make a single option premium payment to the counterparty at the inception of the transaction or a series of premium payment installations over the life of the option.

The Company uses bond purchase commitments to lock in prices of future bond purchases.

Counterparty Risk

The Company is exposed to credit-related losses in the event of nonperformance by counterparties to financial instruments, but it does not expect any counterparties to fail to meet their obligations given their high credit ratings. The

F-26

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

Company manages counterparty risk by transacting with multiple high-rated counterparties and uses collateral support where possible. The Company’s maximum credit exposure to derivative counterparties is limited to the sum of the net fair value of contracts with counterparties that exhibit a positive fair value net of collateral.

The current credit exposure of the Company’s derivative contracts is limited to net positive fair value owed by the counterparties, less collateral posted by the counterparties to the Company. Credit risk is managed by entering into transactions with creditworthy counterparties and requiring the posting of collateral. In many instances, new over-the-counter derivatives contracts will require both parties to post initial margin, thereby resulting in over collateralizations. The Company also attempts to minimize its exposure to credit risk through the use of various credit monitoring techniques and monitoring overall collateral held. All of the net credit exposure for the Company from derivative contracts is with investment-grade counterparties. As of December 31, 2025, the counterparties to all of the Company’s derivatives had a minimum credit rating of BBB+. As of December 31, 2025 and 2024, the Company held derivative counterparty collateral with fair value of $8.1 and zero, respectively.

The table below provides a summary of the net carrying value, fair value and notional value by the type of derivative instruments held by the Company as of December 31, 2025 and 2024:


	2025								2024
Derivative type	Carrying value			Fair value			Notional value		Carrying value		Fair value			Notional value
Financial futures	$	—		$	—		$	889.0	$	—	$	—		$	988.4
Cross currency swaps		(3.2	)		(0.8	)		42.8		1.3		2.4			42.8
Equity index options		17.4			17.4			502.9		18.9		18.9			603.1
Bond purchase commitments		—			(10.9	)		860.0		—		(9.7	)		960.0

Totals	$	14.2		$	5.7		$	2,294.7	$	20.2	$	11.6		$	2,594.3

The financial futures, cross currency swaps, equity index options, and bond purchase commitments in the table above are presented net of their respective liabilities. The Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus present derivative assets and liabilities separately.

The Company has no amounts excluded from the assessment of hedge effectiveness for the years ended December 31, 2025, 2024 and 2023.

The Company recorded no unrealized gains or losses as of December 31, 2025 and 2024 resulting from derivatives that no longer qualify for hedge accounting.

For derivatives accounted for as cash flow hedges of a forecasted transaction:

1) As of December 31, 2025, the maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for forecasted transactions is 8 years; and

2) For the years ended December 31, 2025, 2024, and 2023, there were no cash flow hedges discontinued in the statement year as a result of it no longer being probable that the original forecasted transactions would occur by the end of the originally specified time period or within two months of that date.

The futures margin account recorded as part of derivative assets was $1.6 and zero as of December 31, 2025 and 2024, respectively, and the futures margin account recorded as part of derivative liabilities was zero and $0.6 as of December 31, 2025 and 2024, respectively.

F-27

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

The Company has no derivative contracts with financing premiums in which premium cost is paid at the end of the derivative contract or throughout the derivative contract.

Certain of the Company’s master swap agreements contain a provision that allows the counterparty to terminate derivative transactions if the risk-based capital (“RBC”) ratio of the Company goes below a certain threshold. As of December 31, 2025, the RBC ratio of the Company was above the thresholds negotiated in the applicable master swap agreements; therefore, no counterparty had rights to take action against the Company under the RBC threshold provisions.

(e) Net Investment Income

For the years ended December 31, 2025, 2024 and 2023, the sources of net investment income of the Company were as follows:


	2025			2024			2023
Bonds	$	407.3		$	419.5		$	439.6
Preferred and common stocks		27.1			2.8			2.8
Mortgage loans		69.9			73.0			74.1
Contract loans		25.6			26.7			27.3
Cash, cash equivalents and short-term investments		11.7			14.7			12.6
Real estate		3.4			3.6			3.6
Other invested assets		9.1			9.0			7.9
Derivative instruments		0.5			0.4			0.4
Other		—			0.1			0.1

Gross investment income		554.6			549.8			568.4
Investment and interest expenses		(16.1	)		(16.3	)		(15.6	)

Net investment income	$	538.5		$	533.5		$	552.8

The gross, nonadmitted and admitted amounts for interest income due and accrued as of December 31, 2025 and 2024 were as follows:


Interest Income Due and Accrued	2025		2024
1. Gross	$	104.0	$	110.6
2. Nonadmitted	$	—	$	—
3. Admitted	$	104.0	$	110.6

There was no aggregate deferred interest as of December 31, 2025 and 2024.

The cumulative amounts of PIK interest included in the current principal balance as of December 31, 2025 and 2024 were $60.5 and $65.9, respectively.

The number of CUSIPs sold, redeemed or otherwise disposed as a result of a callable feature and the aggregate amount of investment income (loss) generated as a result of a prepayment penalty and/or accelerations fees for the years ended December 31, 2025, 2024 and 2023 were as follows:


	2025				2024					2023
	General account		Separate account		General account			Separate account		General account			Separate account
(1) Number of CUSIPS		18		—		17			—		9			—
(2) Aggregate amount of investment income (loss)	$	—	$	—	$	(1.4	)	$	—	$	(0.4	)	$	—

F-28

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

For the years ended December 31, 2025, 2024 and 2023, proceeds and gross realized capital gains and losses resulting from sales, maturities, impairments, or other redemptions of investment securities were as follows:


	2025			2024			2023
Proceeds from sales, maturities or other redemptions of bonds	$	759.9		$	1,151.9		$	827.1

Gross realized capital:
Gains on sales	$	65.2		$	72.5		$	40.5
Losses on sales		(111.9	)		(163.7	)		(173.8	)

Net realized gains (losses) on sales		(46.7	)		(91.2	)		(133.3	)
Impairment losses		(0.3	)		(0.8	)		—

Subtotal		(47.0	)		(92.0	)		(133.3	)
Federal income tax provision		1.8			3.7			3.8
Transfers to IMR, net of tax		7.2			8.9			9.9

Realized capital losses, net	$	(38.0	)	$	(79.4	)	$	(119.6	)

(f) Impairment of Investment Securities

The evaluation of OTTI is subject to risks and uncertainties and is intended to determine the appropriate amount and timing for recognizing an impairment charge. The assessment of whether such impairment has occurred is based on management’s best estimate of the cash flows to be collected at the individual security level. The Company regularly monitors its investment portfolio to ensure that securities that may be other-than-temporarily impaired are identified in a timely manner and that any impairment charges are recognized in the proper period.

The Company recognizes OTTI on asset backed securities in an unrealized loss position when one of the following circumstances exists:

•

The Company does not expect full recovery of the amortized cost based on its estimate of cash flows expected to be collected;

•

The Company intends to sell a security; or

•

The Company does not have the intent and ability to retain the investment for a period of time sufficient to recover the amortized cost basis of the investment.

As of December 31, 2025, the Company had no asset backed securities which recognized OTTI.

As of December 31, 2025, the Company had no asset-backed securities with recognized OTTI where it had the intent to sell or did not have the intent and ability to retain the investment for a period of time sufficient to recover the amortized cost basis.

For equity securities, the Company recognizes an impairment charge in the period in which the Company determines that the security will not recover to book value within a reasonable period. The Company determines what constitutes a reasonable period on a security-by-security basis based upon consideration of all the evidence available to it, including the magnitude of an unrealized loss and its duration. The Company measures OTTI based upon the difference between the amortized cost of a security and its fair value.

F-29

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

The following table presents the gross unrealized losses and fair value of the Company’s investment securities, aggregated by investment type and length of time that individual investment securities have been in a continuous unrealized loss position as of December 31, 2025:


	2025
	Less Than 12 Months							12 Months or More
Description of securities	Fair value		Gross unrealized losses			Number of securities		Fair value		Gross unrealized losses			Number of securities
ICO:
U.S. government obligations (exempt from RBC)	$	41.7	$	(1.7	)		5	$	376.9	$	(87.6	)		20
Other U.S. government obligations (not exempt from RBC)		—		—			—		1.1		—			1
Non-U.S. sovereign jurisdiction securities		15.0		(0.2	)		7		128.7		(36.8	)		26
Municipal bonds — general obligation (direct and guaranteed)		5.6		—			1		31.6		(3.1	)		11
Municipal bonds — special revenue		16.1		(0.4	)		5		143.0		(19.8	)		37
Project finance bonds issued by operating entities		1.0		—			2		116.8		(19.5	)		23
Corporate bonds		289.2		(15.2	)		75		3,012.4		(515.1	)		661
Mandatory convertible bonds		—		—			—		—		—			—
Single entity backed obligations		—		—			—		31.3		(4.3	)		10
SVO-identified bond exchange traded funds — fair value		—		—			—		—		—			—
SVO-identified bond exchange traded funds — systematic value		—		—			—		—		—			—
Bonds issued by funds representing operating entities		—		—			—		270.0		(25.8	)		55
Bank loans — issued		13.3		(0.1	)		25		—		—			—
Bank loans — acquired		—		—			—		—		—			—
Other ICO		—		—			—		8.4		(0.4	)		2

Total temporarily impaired ICO securities		381.9		(17.6	)		120		4,120.2		(712.4	)		846
ABS:
Agency residential mortgage-backed securities — fully guaranteed (exempt from RBC): (exempt from RBC)		—		—			—		—		—			—
Agency commercial mortgage-backed securities — fully guaranteed (exempt from RBC)		—		—			—		212.2		(60.7	)		39
Agency residential mortgage-backed securities — not/ partially guaranteed (not exempt from RBC)		0.7		—			4		85.0		(5.0	)		36
Agency commercial mortgage-backed securities — not/ partially guaranteed (not exempt from RBC)		—		—			—		—		—			—
Non-agency residential mortgage-backed securities		—		—			—		70.7		(8.0	)		26
Non-agency commercial mortgage-backed securities		0.8		(0.2	)		1		76.8		(5.6	)		17
Non-agency — CLOs/CBOs/CDOs		—		—			—		—		—			—
Other financial ABS — self-liquidating		—		—			—		4.7		—			5
Equity-backed securities		—		—			—		—		—			—
Other financial ABS — not self-liquidating		—		—			—		—		—			—
Lease-backed transactions (practical expedient)		4.5		—			1		0.2		—			1
Other non-financial ABS (practical expedient)		18.8		(2.1	)		2		—		—			—
Lease-backed transactions (full analysis)		—		—			—		9.1		(0.1	)		3
Other non-financial ABS (full analysis)		11.3		(0.9	)		4		53.8		(2.3	)		12

Total temporarily impaired ABS securities		36.1		(3.2	)		12		512.5		(81.7	)		139

Total equity securities		0.6		—			1		—		—			—

Total temporarily impaired securities	$	418.6	$	(20.8	)		133	$	4,632.7	$	(794.1	)		985

F-30

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	2025
	Less Than 12 Months							12 Months or More
Description of securities	Fair value		Gross unrealized losses			Number of securities		Fair value		Gross unrealized losses			Number of securities
% below cost — fixed maturity securities:
<20% below cost	$	397.8	$	(12.5	)		124	$	3,543.3	$	(368.8	)		754
20-50% below cost		20.2		(8.3	)		8		1,089.0		(424.9	)		230
>50% below cost		—		—			—		0.4		(0.4	)		1

Total fixed maturity securities		418.0		(20.8	)		132		4,632.7		(794.1	)		985

% below cost — equity securities:
<20% below cost		0.6		—			1		—		—			—
20-50% below cost		—		—			—		—		—			—
>50% below cost		—		—			—		—		—			—

Total equity securities		0.6		—			1		—		—			—

Total temporarily impaired securities		418.6		(20.8	)		133		4,632.7		(794.1	)		985

Investment grade — fixed maturity securities		381.0		(13.7	)		100		4,471.3		(775.5	)		949
Below investment grade — fixed maturity securities		37.0		(7.1	)		32		161.4		(18.6	)		36
Investment grade — equity securities		—		—			—		—		—			—
Below investment grade — equity securities		0.6		—			1.0		—		—			—

Total temporarily impaired securities	$	418.6	$	(20.8	)		133	$	4,632.7	$	(794.1	)		985

Based on a qualitative and quantitative review of the issuers of the securities in the table above, the Company believes the decline in fair value was largely due to increased interest rates since purchase and was not indicative of credit losses. The issuers continue to make timely principal and interest payments. For all securities in an unrealized loss position, the Company expects to recover the amortized cost based on its estimate of the amount and timing of cash flows to be collected. The Company does not intend to sell nor does it expect that it will be required to sell these securities prior to recovering its amortized cost.

F-31

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	2024
	Less Than 12 Months							12 Months or More
Description of securities	Fair value		Gross unrealized losses			Number of securities		Fair value		Gross unrealized losses			Number of securities
Fixed maturity securities:
U.S. governments and U.S. government agencies	$	259.8	$	(19.2	)		12	$	167.0	$	(71.0	)		13
All other governments		53.3		(2.9	)		28		62.8		(18.9	)		15
States, territories and possessions		57.4		(1.3	)		14		5.3		(1.0	)		7
Special revenue and special assessment obligations		80.1		(2.6	)		17		146.9		(25.3	)		39
Industrial and miscellaneous		999.4		(34.0	)		256		3,666.1		(699.2	)		811
Bank loans — industrial and miscellaneous		1.2		—			3		—		—			—
Residential mortgage-backed		55.7		(1.1	)		31		160.1		(20.7	)		64
Commercial mortgage-backed		1.5		—			3		314.0		(83.2	)		66
Other asset-backed and structured securities		15.4		(0.1	)		5		106.6		(4.2	)		34
Hybrids		9.2		(0.1	)		2		5.0		—			1

Total fixed maturity securities		1,533.0		(61.3	)		371		4,633.8		(923.5	)		1,050

Total equity securities		2.0		—			1		8.4		(0.4	)		1

Total temporarily impaired securities	$	1,535.0	$	(61.3	)		372	$	4,642.2	$	(923.9	)		1,051

% below cost — fixed maturity securities:
<20% below cost	$	1,516.6	$	(56.6	)		368	$	3,267.8	$	(383.6	)		753
20-50% below cost		16.4		(4.7	)		3		1,364.8		(538.6	)		295
>50% below cost		—		—			—		1.2		(1.3	)		2

Total fixed maturity securities		1,533.0		(61.3	)		371		4,633.8		(923.5	)		1,050

% below cost — equity securities:
<20% below cost		2.0		—			1		8.4		(0.4	)		1
20-50% below cost		—		—			—		—		—			—
>50% below cost		—		—			—		—		—			—

Total equity securities		2.0		—			1		8.4		(0.4	)		1

Total temporarily impaired securities	$	1,535.0	$	(61.3	)		372	$	4,642.2	$	(923.9	)		1,051

Investment grade — fixed maturity securities	$	1,486.2	$	(58.9	)		347	$	4,443.7	$	(895.1	)		1,002
Below investment grade — fixed maturity securities		46.8		(2.4	)		24		190.1		(28.4	)		48
Investment grade — equity securities		2.0		—			1		—		—			—
Below investment grade — equity securities		—		—			—		8.4		(0.4	)		1

Total temporarily impaired securities	$	1,535.0	$	(61.3	)		372	$	4,642.2	$	(923.9	)		1,051

(g) Sub-prime Mortgage Related Risk

Fair Isaac Company (“FICO”) developed the FICO credit-scoring model to calculate a score based upon a borrower’s credit history. FICO credit scores are used as one indicator of a borrower’s credit quality. The higher the credit score, the lower the likelihood that a borrower will default on a loan. FICO credit scores range up to 850, with a score of 620 or more generally viewed as a “prime” loan and a score below 620 generally viewed as a “sub-prime” loan. “A minus” loans

F-32

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

generally are loans where the borrowers have FICO credit scores between 575 and 660, and where the borrower has a blemished credit history.

As of December 31, 2025, the Company did not hold any direct investments in sub-prime or Alt-A mortgage loans. Alt-A mortgage loans are loans considered alternative or low documentation loans.

The Company did not have any direct exposure in other investments with underlying sub-prime or Alt-A related risk as of December 31, 2025.

The Company did not have any underwriting exposure to sub-prime or Alt-A mortgages as of December 31, 2025.

(h) Restricted Assets

The following table sets forth restricted assets including pledged assets held by the Company as of December 31, 2025 and 2024:


	Gross (admitted and nonadmitted) restricted
	2025
	1		2		3		4		5		6
Restricted asset category	Total general account (G/A)		G/A supporting S/A activity		Total separate accounts (S/A) restricted assets		Total (1 plus 3)		Total from 2024		Increase/ (decrease) (4 minus 5)
Federal Home Loan Bank (“FHLB”) capital stock	$	11.5	$	—	$	—	$	11.5	$	14.4	$	(2.9	)
On deposit with states		7.6		—		—		7.6		7.5		0.1
Pledged as collateral:
FHLB agreements		160.8						160.8		186.7		(25.9	)
Derivatives		134.8		—		—		134.8		143.9		(9.1	)
Reinsurance trusts		42.7		—		—		42.7		42.6		0.1
Assets held under Modco reinsurance agreements		677.8		—		1,371.0		2,048.8		2,089.1		(40.3	)
Assets held under FWH reinsurance agreements		1,599.1		—		—		1,599.1		1,588.9		10.2

Total restricted assets	$	2,634.3	$	—	$	1,371.0	$	4,005.3	$	4,073.1	$	(67.8	)


			Percentage
	7		8			9
Restricted asset category	Total 2025 admitted restricted		Gross (admitted and nonadmitted) restricted to total assets			Admitted restricted to total admitted assets
FHLB capital stock	$	11.5		0.1	%		0.1	%
On deposit with states		7.6		—			—
Pledged as collateral:
FHLB agreements		160.8		1.0			1.0
Derivatives		134.8		0.8			0.8
Reinsurance trusts		42.7		0.3			0.3
Assets held under Modco reinsurance agreements		2,048.8		12.5			12.9
Assets held under FWH reinsurance agreements		1,599.1		9.8			10.1

Total restricted assets	$	4,005.3		24.5	%		25.2	%

F-33

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

There were no general account restricted assets, including pledged assets, supporting separate account activity as of December 31, 2025 and 2024.

As of December 31, 2025 and 2024, the Company held no other restricted assets.

The following tables set forth collateral received and assets held under Modco/FWH reinsurance agreements reflected as assets by the Company as of December 31, 2025:


	1		2		3		4		5		6		7			8
Assets	BACV collateral		BACV Modco		BACV FWH		Fair value collateral		Fair value Modco		Fair value FWH		% of BACV to total assets (admitted and nonadmitted)			% of BACV to total admitted assets
General account:
a. Cash, cash equivalents and short-term investments	$	—	$	6.1	$	40.7	$	—	$	6.1	$	40.7		0.4	%		0.4	%
b. Schedule D, Part 1, Section 1		—		546.6		1,289.2		—		500.8		1,157.8		15.0			15.6
c. Schedule D, Part 1, Section 2		—		42.6		85.0		—		32.4		77.4		1.0			1.1
d. Section D, Part 2, Section 1		—		—		—		—		—		—		—			—
e. Schedule D. Part 2, Section 2		—		—		—		—		—		—		—			—
f. Schedule B		—		63.7		155.8		—		62.9		150.1		1.8			1.9
g. Schedule A		—		—		—		—		—		—		—			—
h. Schedule BA, Part 1		—		18.8		28.4		—		16.6		26.9		0.4			0.4
i. Schedule DL, Part 1		—		—		—		—		—		—		—			—
j. Other		—		—		—		—		—		—		—			—

k. Total Assets (a+b+c+d+e+f+g+h+i+j)	$	—	$	677.8	$	1,599.1	$	—	$	618.8	$	1,452.9		18.6	%		19.4	%

l. Percentage to total FWH assets (including modco)		XXX		XXX		XXX		XXX		XXX		XXX		XXX			XXX
Separate account:
m. Cash, cash equivalents and short-term investments	$	—	$	—	$	—	$	—	$	—	$	—		—	%		—	%
n. Schedule D, Part 1, Section 1		—		—		—		—		—		—		—			—
o. Schedule D, Part 1, Section 2		—		—		—		—		—		—		—			—
p. Section D, Part 2, Section 1		—		—		—		—		—		—		—			—
q. Schedule D. Part 2, Section 2		—		1,371.0		—		—		1,371.0		—		33.3			33.3
r. Schedule B		—		—		—		—		—		—		—			—
s. Schedule A		—		—		—		—		—		—		—			—
t. Schedule BA, Part 1		—		—		—		—		—		—		—			—
u. Schedule DL, Part 1		—		—		—		—		—		—		—			—
v. Other		—		—		—		—		—		—		—			—

w. Total Assets (m+n+o+p+q+r+s+t+u+v)	$	—	$	1,371.0	$	—	$	—	$	1,371.0	$	—		33.3	%		33.3	%

x. Percentage to total FWH assets (including modco)		XXX		XXX		XXX		XXX		XXX		XXX		XXX			XXX

F-34

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	9			10			11			12			13			14			15
Assets	BACV			Related party code
	FWH including Modco			1			2			3			4			5			6
General account:
a. Cash, cash equivalents and short-term investments	$	46.8		$	—		$	—		$	—		$	—		$	—		$	46.8
b. Schedule D, Part 1, Section 1		1,835.8			—			—			—			—			—			1,835.8
c. Schedule D, Part 1, Section 2		127.6			—			—			—			—			—			127.6
d. Section D, Part 2, Section 1		—			—			—			—			—			—			—
e. Schedule D. Part 2, Section 2		—			—			—			—			—			—			—
f. Schedule B		219.5			—			—			—			—			—			219.5
g. Schedule A		—			—			—			—			—			—			—
h. Schedule BA, Part 1		47.2			—			—			—			—			—			47.2
i. Schedule DL, Part 1		—			—			—			—			—			—			—
j. Other		—			—			—			—			—			—			—

k. Total Assets (a+b+c+d+e+f+g+h+i+j)	$	2,276.9		$	—			$—			$—			$—			$—			$2,276.9

l. Percentage to total FWH assets (including modco)		—	%		—	%		—	%		—	%		—	%		—	%		100.0	%
Separate account:
m. Cash, cash equivalents and short-term investments	$	—		$	—		$	—		$	—		$	—		$	—		$	—
n. Schedule D, Part 1, Section 1		—			—			—			—			—			—			—
o. Schedule D, Part 1, Section 2		—			—			—			—			—			—			—
p. Section D, Part 2, Section 1		—			—			—			—			—			—			—
q. Schedule D. Part 2, Section 2		1,371.0			—			—			—			—			—			1,371.0
r. Schedule B		—			—			—			—			—			—			—
s. Schedule A		—			—			—			—			—			—			—
t. Schedule BA, Part 1		—			—			—			—			—			—			—
u. Schedule DL, Part 1		—			—			—			—			—			—			—
v. Other		—			—			—			—			—			—			—

w. Total Assets (m+n+o+p+q+r+s+t+u+v)		$1,371.0		$	—		$	—		$	—		$	—		$	—			$1,371.0

x. Percentage to total FWH assets (including modco)		—	%		—	%		—	%		—	%		—	%		—	%		100.0	%


	1		2
	Amount		% of liability to total liabilities*
y. Recognized obligation to return collateral asset (general account)	$	—		—	%
z. Recognized obligation to return collateral asset (separate account)	$	—		—	%
aa. Recognized obligation for Modco assets (general account)	$	674.8		6.2	%
bb. Recognized obligation for Modco assets (separate account)	$	1,371.0		33.3	%
cc. Recognized obligation FWH (excluding modco) assets (general account)	$	1,597.0		14.6	%
dd. Recognized obligation FWH (excluding modco) assets (separate account)	$	—		—	%

*	y + aa + cc = Column 1 divided by total liabilities excluding separate accounts

z + bb + dd = Column 1 divided by separate account liabilities

As of December 31, 2025 and 2024, the Company had no assets held as collateral, under Modco or FWH reinsurance agreements pledged for another purpose.

F-35

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

(i) 5GI Securities

The table below presents 5GI securities held as of December 31, 2025 and 2024:


	Number of 5GI Securities				Aggregate BACV				Aggregate fair value
Investments	2025		2024		2025		2024		2025		2024
(1) Bonds — AC		—		1	$	—	$	0.7	$	—	$	0.7
(2) Loan-backed & Structured Securities — AC		—		—		—		—		—		—
(3) Preferred Stock — AC		—		—		—		—		—		—
(4) Preferred Stock — FV		1		1		0.5		0.5		0.5		0.5

(5) Total (1+2+3+4)		1		2	$	0.5	$	1.2	$	0.5	$	1.2

AC — Amortized cost FV — Fair value BACV — Book adjusted carry value

(3) Aggregate Reserves

As of December 31, 2025 and 2024, the following table summarizes the aggregate reserves and weighted-average interest rate assumptions for the Company:


	2025					2024
Line of business	Amount		Interest rates			Amount		Interest rates
Individual life:
Traditional	$	413.9		3.9	%	$	467.6		3.9	%
Universal		5,291.3		4.3	%		5,296.2		4.3	%
Supplementary contracts with life contingencies		122.7		4.0	%		121.2		3.9	%

Total individual life		5,827.9					5,885.0

Group life		12.8		4.0	%		13.3		4.4	%

Total life		5,840.7					5,898.3

Annuities:
Individual annuities:
Immediate		769.2		5.8	%		819.5		5.8	%
Deferred		686.9		4.4	%		815.3		4.3	%
Variable		48.1		3.9	%		51.7		3.7	%

Total individual annuities		1,504.2					1,686.5

Group annuities:
Other group annuities		19.5		6.3	%		22.0		6.3	%

Total annuities		1,523.7					1,708.5

Accidental death benefits		0.4		3.0	%		0.4		3.0	%
Disability:
Active lives		5.6		4.3	%		6.6		4.3	%
Disabled lives		66.4		3.7	%		66.9		3.6	%

Total disability		72.0					73.5

F-36

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	2025					2024
Line of business	Amount		Interest rates			Amount		Interest rates
Other reserves	$	1,199.2		3.9	%	$	1,337.7		3.9	%
Accident and health:
Individual		0.2		3.4	%		0.3		3.3	%

Total accident and health		0.2					0.3

Total life, annuities, and accident and health aggregate reserves		8,636.2					9,018.7

Deposit-type funds:
Supplementary contracts without life contingencies		214.8		2.8	%		236.9		2.8	%
Other deposit-type funds		44.8		5.3	%		100.8		3.1	%

Total deposit-type funds		259.6					337.7

Total aggregate reserves and deposit-type funds	$	8,895.8				$	9,356.4

Liabilities for life insurance products are based on the AE, AM (5), 41 CSO, 41 STD IND, 58 CSO, 58 CET, 61 CIET, 61 CSI, 80 CSO, 80 CET, 2001 CSO, or 2017 CSO mortality tables. Liabilities for most annuities used the a-1949, 51 GAM, 71 IAM, 71 GAM, 83 GAM, 83a, 94 GAR, 37SA, 2012 IAR, 2012 IAM Basic, or a-2000 mortality tables.

As of December 31, 2025 and 2024, the Company had $748.4 and $805.8, respectively, of additional statutory reserves resulting from updates to its asset adequacy testing assumptions for universal life insurance products with secondary guarantees related to Actuarial Guideline XXXVIII (“AG38”) section 8.D.

The Company waives deduction of deferred fractional premiums upon death of the insured and returns any portion of the final premium beyond the end of the month of death. There were $0.4 in reserves for surrender values in excess of reserves otherwise required as of December 31, 2025 and 2024.

Additional premiums or charges apply for policies issued on substandard lives according to underwriting classifications. The substandard extra reserve held on such policies was either one-half of the annual gross extra premiums or one-twenty-fourth of the annual valuation cost of insurance, adjusted for the substandard ratings on the policy.

The reserve for substandard structured settlements policies is based on a flat extra mortality rate calculated at issue to produce the life expectancy determined during the underwriting process.

The reserve for substandard immediate annuities issued in 2005 and later, other than structured settlement policies, is based on a standard mortality plus a flat extra mortality rate calculated at issue to produce the present value of future benefits using the rated age determined during the underwriting process.

As of December 31, 2025 and 2024, the Company had $18,884.8 and $20,428.6, respectively, of insurance in-force for which the future guaranteed maximum gross premiums were less than the future net premiums according to the standard of valuation set by the Virginia Bureau. Reserves to cover the above insurance totaled $243.6 and $259.0, respectively, as of December 31, 2025 and 2024 and are reported in aggregate reserves — life and annuity contracts.

For certain interest sensitive life and immediate annuity reserves, tabular interest has been determined from basic data. The tabular interest for all other lines of business has been determined by formula as described in the NAIC instructions. For certain interest sensitive life reserves, tabular cost has been determined from basic data. Tabular cost for all other lines of business and tabular less actual reserve released have been determined by formula as described in the NAIC instructions.

For funds held on deposit, interest on funds was the actual interest credited to funds. For other funds not involving life contingencies, interest has been determined by formula or from basic data.

F-37

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

As of December 31, 2025, withdrawal characteristics of annuity actuarial reserves and deposit-type contract funds and other liabilities without life or disability contingencies were as follows:


	2025
	General account		Separate accounts with guarantees		Separate accounts nonguaranteed		Total		Percent of total
A. Individual annuities:
(1) Subject to discretionary withdrawal:
a. With market value adjustment	$	491.3	$	4.0	$	—	$	495.3		5.0	%
b. At book value less current surrender charge of 5% or more		7.6		—		—		7.6		0.1
c. At fair value		—		—		3,725.9		3,725.9		37.8

d. Total with market value adjustment or at fair value (total of a-c)		498.9		4.0		3,725.9		4,228.8		42.9
e. At book value without adjustment (minimal or no charge or adjustment)		513.0		—		—		513.0		5.2
(2) Not subject to discretionary withdrawal		5,102.7		—		20.8		5,123.5		51.9

(3) Total (gross: direct + assumed)		6,114.6		4.0		3,746.7		9,865.3		100.0	%

(4) Reinsurance ceded		4,487.7		—		—		4,487.7

(5) Total net (3) – (4)	$	1,626.9	$	4.0	$	3,746.7	$	5,377.6

(6) Amount included in A(1)b above that will move to A(1)e for the first time within the year after the statement date:	$	2.2	$	—	$	—	$	2.2


	General account		Separate accounts with guarantees		Separate accounts nonguaranteed		Total		Percent of total
B. Group annuities:
(1) Subject to discretionary withdrawal:
a. With market value adjustment	$	—	$	—	$	—	$	—		—	%
b. At book value less current surrender charge of 5% or more		—		—		—		—		—
c. At fair value		—		—		38.9		38.9		66.6

d. Total with market value adjustment or at fair value (total of a-c)		—		—		38.9		38.9		66.6
e. At book value without adjustment (minimal or no charge or adjustment)		—		—		—		—		—
(2) Not subject to discretionary withdrawal		19.5		—		—		19.5		33.4

(3) Total (gross: direct + assumed)		19.5		—		38.9		58.4		100.0	%

(4) Reinsurance ceded		—		—		—		—

(5) Total net (3) – (4)	$	19.5	$	—	$	38.9	$	58.4

(6) Amount included in B(1)b above that will move to B(1)e for the first time within the year after the statement date:	$	—	$	—	$	—	$	—

F-38

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	General account		Separate accounts with guarantees		Separate accounts nonguaranteed		Total		Percent of total
C. Deposit-type contracts (no life contingencies):
(1) Subject to discretionary withdrawal:
a. With market value adjustment	$	—	$	—	$	—	$	—		—	%
b. At book value less current surrender charge of 5% or more		—		—		—		—		—
c. At fair value		—		—		—		—		—

d. Total with market value adjustment or at fair value (total of a-c)		—		—		—		—		—
e. At book value without adjustment (minimal or no charge or adjustment)		177.2		—		—		177.2		29.7
(2) Not subject to discretionary withdrawal		419.6		—		—		419.6		70.3

(3) Total (gross: direct + assumed)		596.8		—		—		596.8		100.0	%

(4) Reinsurance ceded		337.2		—		—		337.2

(5) Total net (3) – (4)	$	259.6	$	—	$	—	$	259.6

(6) Amount included in C(1)b above that will move to C(1)e for the first time within the year after the statement date:	$	—	$	—	$	—	$	—

As of December 31, 2025, withdrawal characteristics of life actuarial reserves were as follows:


	Account value		Cash value		Reserve
A. General account
(1) Subject to discretionary withdrawal, surrender values, or policy loans;
a. Term policies with cash value	$	—	$	132.7	$	201.2
b. Universal life		1,651.2		1,446.9		1,618.2
c. Universal life with secondary guarantees		2,143.3		2,110.9		6,493.9
d. Indexed universal life		44.2		40.0		44.5
e. Indexed universal life with secondary guarantees		—		—		—
f. Indexed life		—		—		—
g. Other permanent cash value life insurance		—		—		—
h. Variable life		—		—		—
i. Variable universal life		7.3		7.3		7.7
j. Miscellaneous reserves		—		—		—
(2) Not subject to discretionary withdrawal or no cash values
a. Term policies without cash value		XXX		XXX		4,788.7
b. Accidental death benefits		XXX		XXX		0.4
c. Disability — active lives		XXX		XXX		6.3
d. Disability — disabled lives		XXX		XXX		67.3
e. Miscellaneous reserves		XXX		XXX		1,007.7

(3) Total (gross: direct + assumed)		3,846.0		3,737.8		14,235.9
(4) Reinsurance ceded		1,065.3		1,063.0		7,463.4

(5) Total (net) (3) – (4)	$	2,780.7	$	2,674.8	$	6,772.5

F-39

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	Account value		Cash value		Reserve
B. Separate account with guarantees
(1) Subject to discretionary withdrawal, surrender values, or policy loans;
a. Term policies with cash value	$	—	$	—	$	—
b. Universal life		—		—		—
c. Universal life with secondary guarantees		—		—		—
d. Indexed universal life		—		—		—
e. Indexed universal life with secondary guarantees		—		—		—
f. Indexed life		—		—		—
g. Other permanent cash value life insurance		—		—		—
h. Variable life		—		—		—
i. Variable universal life		307.4		307.4		307.7
j. Miscellaneous reserves		—		—		—
(2) Not subject to discretionary withdrawal or no cash values
a. Term policies without cash value		XXX		XXX		—
b. Accidental death benefits		XXX		XXX		—
c. Disability — active lives		XXX		XXX		—
d. Disability — disabled lives		XXX		XXX		—
e. Miscellaneous reserves		XXX		XXX		—

(3) Total (gross: direct + assumed)		307.4		307.4		307.7
(4) Reinsurance ceded		—		—		—

(5) Total (net) (3) – (4)	$	307.4	$	307.4	$	307.7


	Account value		Cash value		Reserve
C. Separate account nonguaranteed
(1) Subject to discretionary withdrawal, surrender values, or policy loans;
a. Term policies with cash value	$	—	$	—	$	—
b. Universal life		—		—		—
c. Universal life with secondary guarantees		—		—		—
d. Indexed universal life		—		—		—
e. Indexed universal life with secondary guarantees		—		—		—
f. Indexed life		—		—		—
g. Other permanent cash value life insurance		—		—		—
h. Variable life		—		—		—
i. Variable universal life		—		—		—
j. Miscellaneous reserves		—		—		—
(2) Not subject to discretionary withdrawal or no cash values
a. Term policies without cash value		XXX		XXX		—
b. Accidental death benefits		XXX		XXX		—
c. Disability — active lives		XXX		XXX		—
d. Disability — disabled lives		XXX		XXX		—
e. Miscellaneous reserves		XXX		XXX		—

(3) Total (gross: direct + assumed)		—		—		—
(4) Reinsurance ceded		—		—		—

(5) Total (net) (3) – (4)	$	—	$	—	$	—

F-40

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

Deferred and uncollected life insurance premiums and annuity considerations as of December 31, 2025 and 2024 were as follows:


	2025				2024
	Gross		Net of loading		Gross		Net of loading
Industrial	$	0.2	$	0.2	$	0.2	$	0.1
Ordinary renewal		130.5		274.0		136.8		286.0
Group life		0.3		1.2		0.2		1.2

Total	$	131.0	$	275.4	$	137.2	$	287.3

The Company did not have any direct written premiums generated through managing general agents or third-party administrators during the years ended December 31, 2025 and 2024.

Guaranteed Minimum Death Benefit, Guaranteed Minimum Withdrawal Benefit and Guaranteed Annuitization Benefit

The Company’s variable annuity products provide a basic GMDB which provides a minimum account value to be paid upon the annuitant’s death. Some variable annuity contracts permit contractholders to have the option to purchase through riders, at an additional charge, enhanced death benefits. The Company’s separate account guarantees are primarily death benefits but also include some GMWBs and guaranteed annuitization benefits. The GMWB allows contractholders to withdraw a pre-defined percentage of account value or benefit each year, either for a specified period of time or for life. The guaranteed annuitization benefit generally provides for a guaranteed minimum level of income upon annuitization accompanied by the potential for upside market participation. As of December 31, 2025 and 2024, the Company had reserves related to these guaranteed benefits of $217.0 and $283.0, respectively.

The following table sets forth total account values, net of reinsurance, with death benefit and living benefit guarantees as of December 31, 2025 and 2024:


	2025		2024
Account values with death benefit guarantees (net of reinsurance):
Standard death benefits (return of net deposits) account value	$	1,614.1	$	1,638.1
Net amount at risk	$	0.6	$	0.9
Average attained age of contractholders		78		78
Enhanced death benefits (step-up, roll-up, payment protection) account value	$	853.4	$	888.3
Net amount at risk	$	78.7	$	95.0
Average attained age of contractholders		78		78
Account values with living benefit guarantees:
Guaranteed minimum withdrawal benefits	$	957.5	$	1,021.7
Guaranteed annuitization benefits	$	848.3	$	775.9

The contracts underlying the GMWB and guaranteed annuitization benefits are considered “in the money” if the contractholder’s benefit base, defined as the greater of the contract value or the protected value, is greater than the account value. As of December 31, 2025 and 2024, the Company’s exposure related to GMWB and guaranteed annuitization benefits contracts that were considered “in the money” was $504.0 and $587.0, respectively. For GMWBs and guaranteed annuitization benefits, the only way the contractholder can monetize the excess of the benefit base over the account value of the contract is upon annuitization and the amount to be paid by the Company will either be in the form of a lump sum, or over the annuity period for certain GMWBs and guaranteed annuitization benefits.

F-41

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

(4)

Liability for Policy and Contract Claims

Activity in the accident and health policy claim reserves, including the present value of amounts not yet due (which were included as a component of aggregate reserves) of $0.2, $0.3, and $0.4 as of December 31, 2025, 2024 and 2023, respectively, is summarized as follows:


	2025			2024		2023
Balance as of January 1	$	24.7		$	26.5	$	30.4
Less reinsurance reserve credit and recoverable		24.4			26.1		30.0

Net balance as of January 1		0.3			0.4		0.4

Incurred related to:
Current year		—			—		—
Prior years		(0.1	)		—		0.1

Total incurred		(0.1	)		—		0.1

Paid related to:
Current year		—			—		—
Prior years		—			0.1		0.1

Total paid		—			0.1		0.1

Net balance as of December 31		0.2			0.3		0.4
Plus reinsurance reserve credit and recoverable		19.7			24.4		26.1

Balance as of December 31	$	19.9		$	24.7	$	26.5

Incurred claims related to prior years did not change by a significant amount in any year as a result of changes in estimates of insured events in prior years.

For the years ended December 31, 2025, 2024 and 2023, the Company did not have any significant changes in methodologies or assumptions used to calculate the liability for unpaid claims and claim adjustment expenses.

The liability for policy and contract claims presented in the Statutory Statements of Admitted Assets, Liabilities and Capital and Surplus included $106.5 and $95.2 of life contract claims as of December 31, 2025 and 2024, respectively.

(5)

Transactions with Affiliates

The Company and various affiliates, all direct and/or indirect subsidiaries of Genworth, are parties to an amended and restated services and shared expenses agreement under which each company agrees to provide and each company agrees to receive certain general services. These services include, but are not limited to, data processing, communications, marketing, public relations, advertising, investment management, human resources, accounting, actuarial, legal, administration of agent and agency matters, purchasing, underwriting and claims. Under the terms of the agreement, settlements are to be made quarterly. This agreement represents the principal administrative service agreement between the Company and the following affiliates:

GLIC

GNA

Enact Mortgage Insurance Corporation (“EMIC”)

JAC

RLIC VI

RLIC X

F-42

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

On December 26, 2025, the Company received $23.3 in cash from Newco as a dividend payment.

On January 6, 2023, RLIC VI returned contributed surplus to the Company of $5.0 in cash.

For years ended December 31, 2025, 2024 and 2023, the Company made net payments for intercompany settlements of $42.6, $45.6, and $41.4, respectively.

On August 31, 2021, after receiving approval from the Virginia Bureau and the State of Delaware Department of Insurance, the Company and GLIC executed a Master Promissory Note. Under terms of this note the borrower may borrow up to a maximum of $300.0 from the lender for up to 90 business days. Any loan shall be repaid by the borrower to the lender immediately upon written demand. The note pays interest at the daily overnight U.S. Federal Funds Rate less 0.10%, with a floor of 0.25%. There were no outstanding balances payable to or due from GLIC as of December 31, 2025 or 2024.

The Company has a Master Promissory Note agreement, approved by the Virginia Bureau, which involves borrowing from and making loans to GNA, the Company’s indirect parent. The principal is payable upon written demand by GNA or at the discretion of the Company. The note pays interest at the cost of funds of GNA, which was 3.54%, 4.23%, and 5.23% during the years ended December 31, 2025, 2024 and 2023, respectively. There were no outstanding balances payable to or due from GNA as of December 31, 2025 or 2024.

The Company and GLICNY are parties to an Administrative Services Agreement whereby the Company provides services to GLICNY with respect to GLICNY’s variable annuity products.

The Company and GLIC are parties to a Master Services and Shared Expenses Agreement with two affiliates, Genworth Financial India Private Limited and EMIC, whereby the parties agree to benefit from centralized functions and processes by pooling their purchasing power by entering separate Statements of Work which will provide the specifics of each service to be provided.

The Company participates in reinsurance agreements whereby the Company assumes business from or cedes business to its affiliates. See Note 8 for further details on affiliate reinsurance agreements.

Total amounts due from or owed to affiliates as of December 31, 2025 and 2024 are included in the following balance sheet captions:


	2025		2024
Assets:
Amounts recoverable from reinsurers and funds held	$	243.8	$	281.9
Receivable from parent, subsidiaries and affiliates		0.2		—
Current Federal income tax recoverable		—		1.1

Total assets	$	244.0	$	283.0

Liabilities:
Current Federal income tax payable	$	8.0	$	—
Payable to parent, subsidiaries and affiliates		12.3		12.6
Other amounts payable on reinsurance		24.9		24.1

Total liabilities	$	45.2	$	36.7

(6)

Income Taxes

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”), which includes certain tax provisions, was signed into law. The OBBBA did not have a material impact on the Company’s financial statements.

F-43

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

In August 2022, the Inflation Reduction Act of 2022 (“Act”) was passed by the U.S. Congress and signed into law by President Biden. The Act includes a new Federal corporate alternative minimum tax (“CAMT”), effective in 2023, that is based on the adjusted financial statement income (“AFSI”) set forth on the applicable financial statement (“AFS”) of an applicable corporation. A corporation is an applicable corporation if its rolling average pre-tax AFSI over three prior years (starting with 2020-2022) is greater than $1.0 billion. For a group of related entities, the $1.0 billion threshold is determined on a group basis, and the group’s AFS is generally treated as the AFS for all separate taxpayers in the group. Except under limited circumstances, once a corporation is an applicable corporation, it is an applicable corporation in all future years.

An applicable corporation is not automatically subject to a CAMT liability. The corporation’s tentative CAMT liability is equal to 15% of its adjusted AFSI, and CAMT is payable to the extent the tentative CAMT liability exceeds regular corporate income tax. However, any CAMT paid would be indefinitely available as a credit carryover that could reduce future regular tax in excess of CAMT. The controlled group of corporations of which the Company is a member was not an applicable corporation in 2025 or 2024. The Company intends to amend its tax sharing agreement in 2026 to reflect CAMT.

(a) Components of deferred tax assets and deferred tax liabilities

The components of the net DTA recognized in the Company’s Statutory Statements of Admitted Assets, Liabilities and Capital and Surplus as of December 31, 2025 and 2024 were as follows:


	2025						2024						Change
	Ordinary		Capital		Total		Ordinary		Capital		Total		Ordinary			Capital			Total
a. Gross DTA	$	497.5	$	4.5	$	502.0	$	523.9	$	7.5	$	531.4	$	(26.4	)	$	(3.0	)	$	(29.4	)
b. Statutory valuation allowance adjustment		—		—		—		—		—		—		—			—			—

c. Adjusted gross DTA (1a – 1b)		497.5		4.5		502.0		523.9		7.5		531.4		(26.4	)		(3.0	)		(29.4	)
d. DTA nonadmitted		417.9		2.8		420.7		398.5		7.3		405.8		19.4			(4.5	)		14.9

e. Subtotal: net admitted DTA (1c – 1d)		79.6		1.7		81.3		125.4		0.2		125.6		(45.8	)		1.5			(44.3	)
f. DTL		60.4		1.7		62.1		74.0		0.2		74.2		(13.6	)		1.5			(12.1	)

g. Net admitted DTA/(DTL) (1e – 1f)	$	19.2	$	—	$	19.2	$	51.4	$	—	$	51.4	$	(32.2	)	$	—		$	(32.2	)

F-44

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

Admission calculation components for SSAP No. 101 as of December 31, 2025 and 2024:


	2025						2024						Change
	Ordinary		Capital		Total		Ordinary		Capital		Total		Ordinary			Capital		Total
a. Federal income taxes paid in prior years recoverable through loss carrybacks	$	—	$	—	$	—	$	—	$	—	$	—	$	—		$	—	$	—
b. Adjusted gross DTA expected to be realized (excluding the amount of DTA from 2(a) above) after application of the threshold limitation. (The lessor of 2(b)1 and 2(b)2 below)		19.2		—		19.2		51.4		—		51.4		(32.2	)		—		(32.2	)
1. Adjusted gross DTA expected to be realized following the balance sheet date		19.2		—		19.2		51.4		—		51.4		(32.2	)		—		(32.2	)
2. Adjusted gross DTA allowed per limitation threshold		XXX		XXX		120.6		XXX		XXX		117.4		XXX			XXX		3.2
c. Adjusted gross DTA (excluding the amount of DTA from 2(a) and 2(b) above) offset by gross DTL		60.4		1.7		62.1		74.0		0.2		74.2		(13.6	)		1.5		(12.1	)

d. DTA admitted as a result of the application of SSAP No. 101 (Total 2(a) + 2(b) + 2(c))	$	79.6	$	1.7	$	81.3	$	125.4	$	0.2	$	125.6	$	(45.8	)	$	1.5	$	(44.3	)

Ratio used to determine applicable period used in 6(a)2:


	2025			2024
a. Ratio percentage used to determine recovery period and threshold limitation amount		842	%		789	%
b. Amount of adjusted capital and surplus used to determine recovery period and threshold limitation in 2(b)2 above	$	930.1		$	915.9

F-45

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

The Company did not use tax planning strategies in the computation of either the adjusted gross DTA or net admitted DTA for the years ended December 31, 2025 and 2024.

(b) Unrecognized deferred tax liabilities

The Company did not have any unrecognized DTLs for the years ended December 31, 2025 and 2024.

(c) Current income tax and change in deferred tax

The provision for income taxes incurred on operations for the years ended December 31, 2025, 2024 and 2023 were as follows:


	2025			2024			Change
1. Current Income Taxes
a. Federal income taxes	$	(11.8	)	$	(6.9	)	$	(4.9	)
b. Foreign income taxes		—			—			—

c. Federal and foreign income taxes		(11.8	)		(6.9	)		(4.9	)
d. Federal income tax on net capital gains (losses)		(1.8	)		(3.7	)		1.9
e. Utilization of capital loss carry forwards		—			—			—
f. Other		—			—			—

g. Federal income taxes incurred	$	(13.6	)	$	(10.6	)	$	(3.0	)


	2024			2023			Change
1. Current Income Taxes
a. Federal income taxes	$	(6.9	)	$	14.9		$	(21.8	)
b. Foreign income taxes		—			—			—

c. Federal and foreign income taxes		(6.9	)		14.9			(21.8	)
d. Federal income tax on net capital gains (losses)		(3.7	)		(3.8	)		0.1
e. Utilization of capital loss carry forwards		—			—			—
f. Other		—			—			—

g. Federal income taxes incurred	$	(10.6	)	$	11.1		$	(21.7	)

F-46

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

The tax effects of temporary differences that give rise to significant portions of the DTAs and DTLs were as follows as of December 31, 2025 and 2024:


	2025		2024		Change
2. DTA
A. Ordinary
1. Discounting of unpaid losses	$	—	$	—	$	—
2. Unearned premium reserve		—		—		—
3a. Transition reserves		—		1.5		(1.5	)
3b. Policyholder reserves		321.5		340.9		(19.4	)
4. Investments		44.4		50.4		(6.0	)
5. Deferred acquisition costs		128.4		127.6		0.8
6. Policyholder dividends accrual		—		—		—
7. Fixed assets		0.5		0.6		(0.1	)
8. Compensation and benefits accrual		—		—		—
9. Pension accrual		—		—		—
10. Receivable–nonadmitted		2.3		2.0		0.3
11. Net operating loss carry forward		—		—		—
12. Tax credit carry forward		—		—		—
13. Other (including items less than 5% of total ordinary tax assets)		0.4		0.9		(0.5	)

99. Subtotal ordinary		497.5		523.9		(26.4	)
B. Statutory valuation allowance adjustment		—		—		—
C. Nonadmitted DTA		417.9		398.5		19.4

D. Admitted ordinary DTA (2A99 – 2B – 2C)		79.6		125.4		(45.8	)
E. Capital						—
1. Investments		4.5		7.5		(3.0	)
2. Net capital loss carry forward		—		—		—
3. Real estate		—		—		—
4. Other (including items less than 5% of total ordinary tax assets)		—		—		—

99. Subtotal capital		4.5		7.5		(3.0	)
F. Statutory valuation allowance adjustment		—		—		—
G. Nonadmitted DTA		2.8		7.3		(4.5	)

H. Admitted capital DTA (2E99 – 2F – 2G)		1.7		0.2		1.5

I. Admitted DTA (2D + 2H)	$	81.3	$	125.6	$	(44.3	)

F-47

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)


	2025		2024		Change
3. DTL
A. Ordinary
1. Investments	$	1.8	$	3.0	$	(1.2	)
2. Fixed assets		—		—		—
3. Deferred and uncollected premiums		57.8		60.4		(2.6	)
4(a). Transition reserves		—		9.1		(9.1	)
4(b). Policyholder reserves		0.8		1.5		(0.7	)
5. Other		—		—		—

99. Subtotal ordinary		60.4		74.0		(13.6	)

B. Capital
1. Investments		1.7		0.2		1.5
2. Real estate		—		—		—
3. Other		—		—		—

99. Subtotal capital		1.7		0.2		1.5

C. DTL (3A99 + 3B99)		62.1		74.2		(12.1	)

4. Net DTA (DTL) (2I – 3C)	$	19.2	$	51.4	$	(32.2	)

Based on an analysis of the Company’s tax position for the year ended December 31, 2025, management concluded it is more likely than not that the results of future operations will generate sufficient taxable income to enable the Company to realize all of its DTAs. Accordingly, no valuation allowance for DTA has been established.

The change in net deferred taxes is comprised of the following (this analysis is exclusive of nonadmitted assets, as the change in nonadmitted assets is reported separately from the change in net deferred income taxes in the Statutory Statements of Admitted Assets, Liabilities and Capital and Surplus):


	December 31,
	2025		2024		Change
Total gross DTA	$	502.0	$	531.4	$	(29.4	)
Statutory valuation allowance adjustment		—		—		—

Adjusted gross DTAs		502.0		531.4		(29.4	)
Total gross DTL		62.1		74.2		(12.1	)

Net DTA	$	439.9	$	457.2		(17.3	)

Deferred tax on change in net unrealized capital gains (losses)						(0.2	)

Change in net deferred income taxes					$	(17.5	)

F-48

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

(d) Reconciliation of Federal income tax rate to actual effective tax rate

The provision for Federal income taxes incurred is different from that which would be obtained by applying the statutory Federal income tax rate to income before income taxes. The significant items causing this difference were as follows for the years ended December 31, 2025, 2024 and 2023:


	2025			2024			2023
Provision computed at statutory tax rate	$	16.4		$	9.3		$	20.9
Tax exempt interest		—			—			(0.1	)
Benefit of dividends		(6.5	)		(1.6	)		(1.7	)
Statutory amortization of IMR		—			(0.2	)		(0.4	)
Foreign taxes		(0.2	)		(0.2	)		(0.2	)
Change in nonadmitted assets		(0.2	)		0.3			5.9
Deferred reinsurance gains		(5.9	)		(6.9	)		(6.7	)
Other adjustments		0.3			(0.2	)		—

Total	$	3.9		$	0.5		$	17.7

Federal income taxes incurred	$	(13.6	)	$	(10.6	)	$	11.1
Change in net deferred income taxes		17.5			11.1			6.6

Total	$	3.9		$	0.5		$	17.7

(e) Operating loss and tax credit carry forwards and protective tax deposits

As of December 31, 2025, the Company had no operating losses to carry forward.

As of December 31, 2025, the Company had no tax credits to carry forward.

There were no income taxes incurred in the current or prior years that will be available for recoupment in the event of future net losses.

The Company had no protective tax deposits which are on deposit with the IRS under Section 6603 of the Internal Revenue Code.

(f) Consolidated Federal income tax return

The Company is an affiliated member of a consolidated Life/Non-Life U.S. Federal income tax return with its ultimate parent company, Genworth, and will be included with the following companies in the consolidated Federal income tax return for 2025:

ASI

Capital Brokerage Corporation

CareScout Holdings, Inc.

CareScout, LLC

Enact Financial Assurance Corporation

Enact Financial Services, Inc.

Enact Global Holdings Corporation

Enact Holdings, Inc.

Enact Mortgage Holdings, LLC

EMIC

Enact Mortgage Insurance Corporation of North Carolina

Enact Mortgage Services, LLC

F-49

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY

Notes to Statutory Financial Statements — Continued

December 31, 2025, 2024 and 2023

(Dollar amounts in millions)

Enact Re Ltd.

Enact Residential Insurance Corporation

Genworth

Genworth Annuity Service Corporation

Genworth Financial Agency, Inc. (“GFA”)

Genworth Financial International Holdings, LLC

Genworth Holdings, Inc. (“Genworth Holdings”)

GLIC

GLICNY

GNA

HGI Annuity Service Corporation

JAC

Mayflower

Monument Lane IC 1, Inc.

Monument Lane IC 2, Inc.

Monument Lane PCC, Inc.

Newco

RLIC VI

RLIC X

Seniorly, Inc.



The Prudential Series Fund (continued)

PSF PGIM Jennison Blend Portfolio — Class II Shares		PSF PGIM Jennison Growth Portfolio — Class II Shares


	$9,665,978		$8,397,107
	—		—
	10		—
	9,665,988		8,397,107


	414		374
	—		1
	414		375


	9,650,113		8,396,732
	15,461		—
	$9,665,574		$8,396,732

	$7,131,209		$3,380,360
	69,117		42,515



The Prudential Series Fund (continued)

PSF PGIM Jennison Blend Portfolio — Class II Shares			PSF PGIM Jennison Growth Portfolio — Class II Shares

Year ended December 31, 2025			Year ended December 31, 2025


	$—			$—
	128,129			128,205
	(128,129	)		(128,205	)


	515,100			659,024
	1,481,989			425,569
	—			—
	1,997,089			1,084,593

	$1,868,960			$956,388



	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)

	Invesco V.I. American Value Fund — Series II shares						Invesco V.I. Comstock Fund — Series II shares						Invesco V.I. Core Equity Fund — Series I shares

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(146,036	)		$(74,892	)		$(50,111	)		$(99,823	)		$(631,257	)		$(85,796	)
Net realized gain (loss) on investments		122,951			(50,062	)		930,261			1,180,363			708,879			190,090
Change in unrealized appreciation (depreciation) on investments		242,431			2,355,087			579,279			1,738,215			3,373,976			375,746
Capital gain distributions		1,780,622			244,463			4,799,725			3,041,918			4,719,136			4,915,408
Increase (decrease) in net assets from operations		1,999,968			2,474,596			6,259,154			5,860,673			8,170,734			5,395,448

From capital transactions (note 4):
Net premiums		8,961			48,181			195,518			129,546			177,363			37,346
Transfers for contract benefits and terminations		(744,231	)		(488,327	)		(4,285,993	)		(4,679,260	)		(7,429,173	)		(3,582,608	)
Administrative expenses		(38,699	)		(33,998	)		(316,640	)		(345,644	)		(649,611	)		(287,395	)
Transfers between subaccounts (including fixed account), net		(192,596	)		563,385			1,682,032			(5,939,997	)		5,522,809			52,488,019
Increase (decrease) in net assets from capital transactions		(966,565	)		89,241			(2,725,083	)		(10,835,355	)		(2,378,612	)		48,655,362
Increase (decrease) in net assets		1,033,403			2,563,837			3,534,071			(4,974,682	)		5,792,122			54,050,810
Net assets at beginning of year		11,393,977			8,830,140			42,730,213			47,704,895			58,784,109			4,733,299
Net assets at end of year		$12,427,380			$11,393,977			$46,264,284			$42,730,213			$64,576,231			$58,784,109

Change in units (note 5):
Units purchased		43,169			103,092			194,073			95,586			452,264			2,137,779
Units redeemed		(107,840	)		(97,683	)		(245,512	)		(438,431	)		(525,561	)		(284,995	)
Net increase (decrease) in units from capital transactions with contract owners		(64,671	)		5,409			(51,439	)		(342,845	)		(73,297	)		1,852,784



	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)

	Invesco V.I. EQV International Equity Fund — Series II shares						Invesco V.I. Equity and Income Fund — Series I shares						Invesco V.I. Equity and Income Fund — Series II shares

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(108,319	)		$101,146			$41,477			$53,240			$(21,823	)		$(25,923	)
Net realized gain (loss) on investments		157,891			60,763			49,497			11,809			267,607			185,518
Change in unrealized appreciation (depreciation) on investments		1,480,946			(829,050	)		235,115			80,123			819,248			788,736
Capital gain distributions		1,315,072			119,122			302,123			236,559			1,185,251			909,451
Increase (decrease) in net assets from operations		2,845,590			(548,019	)		628,212			381,731			2,250,283			1,857,782

From capital transactions (note 4):
Net premiums		44,770			13,105			—			6,093			33,777			9,900
Transfers for contract benefits and terminations		(2,512,936	)		(1,585,086	)		(809,656	)		(328,177	)		(2,778,215	)		(2,860,838	)
Administrative expenses		(195,678	)		(118,663	)		(4,515	)		(3,336	)		(169,847	)		(152,199	)
Transfers between subaccounts (including fixed account), net		(1,207,739	)		14,532,689			(172,430	)		6,115,161			(364,454	)		11,204,170
Increase (decrease) in net assets from capital transactions		(3,871,583	)		12,842,045			(986,601	)		5,789,741			(3,278,739	)		8,201,033
Increase (decrease) in net assets		(1,025,993	)		12,294,026			(358,389	)		6,171,472			(1,028,456	)		10,058,815
Net assets at beginning of year		21,677,524			9,383,498			6,171,472			—			23,121,605			13,062,790
Net assets at end of year		$20,651,531			$21,677,524			$5,813,083			$6,171,472			$22,093,149			$23,121,605

Change in units (note 5):
Units purchased		118,489			1,077,549			11,426			641,143			63,281			664,326
Units redeemed		(350,788	)		(171,295	)		(100,660	)		(61,062	)		(208,657	)		(251,156	)
Net increase (decrease) in units from capital transactions with contract owners		(232,299	)		906,254			(89,234	)		580,081			(145,376	)		413,170


	Page
Report of Independent Registered Public Accounting Firm		F-1

Statements of Assets and Liabilities		F-6

Statements of Operations		F-18

Statements of Changes in Net Assets		F-30

Notes to Financial Statements		F-62



	State Street Variable Insurance Series Funds, Inc. (continued)		The Alger Portfolios				The Prudential Series Fund

	U.S. Equity V.I.S. Fund — Class 1 Shares		Alger Large Cap Growth Portfolio — Class I-2 Shares		Alger Small Cap Growth Portfolio — Class I-2 Shares		PSF Mid-Cap Growth Portfolio — Class II Shares		PSF Natural Resources Portfolio — Class II Shares

Assets:
Investments at fair value (note 2b)		$15,063,952		$30,625,582		$9,710,268		$—		$—
Dividend receivable		—		—		—		—		—
Receivable for units sold		—		—		—		—		—
Total assets		15,063,952		30,625,582		9,710,268		—		—

Liabilities:
Accrued expenses payable to affiliate (note 4b)		639		1,210		386		—		—
Payable for units withdrawn		3,144		28,262		5,370		—		—
Total liabilities		3,783		29,472		5,756		—		—

Net assets attributable to:
Variable annuity contract owners in the accumulation period		15,008,135		30,376,271		9,588,791		—		—
Variable annuity contract owners in the annuitization period		52,034		219,839		115,721		—		—
Net assets		$15,060,169		$30,596,110		$9,704,512		$—		$—

Investments in securities at cost		$14,687,691		$20,046,659		$12,517,874		$—		$—
Shares outstanding		323,886		296,846		520,937		—		—



AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)

Invesco V.I. Global Fund — Series II shares						Invesco V.I. Global Real Estate Fund — Series II shares						Invesco V.I. Global Strategic Income Fund — Series I shares						Invesco V.I. Government Securities Fund — Series I shares				Invesco V.I. Main Street Fund^® — Series II shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025		Year ended December 31, 2024		Year ended December 31, 2025			Year ended December 31, 2024




	$(420,556	)		$(464,544	)		$(1,355	)		$1,828			$59,690			$24,025			$—		$—		$(1,097,941	)		$(745,734	)
	345,105			318,517			8,173			2,825			(32,098	)		(42,938	)		—		—		45,624			(448,655	)
	(1,684,197	)		2,355,815			1,931			401			122,639			44,027			—		—		6,648,546			(658,546	)
	5,121,732			1,711,971			—			—			—			—			—		—		4,816,659			8,270,439
	3,362,084			3,921,759			8,749			5,054			150,231			25,114			—		—		10,412,888			6,417,504


	42,263			49,583			—			370			7,537			1,634			—		—		229,955			71,350
	(3,633,378	)		(3,173,469	)		(14,482	)		(18,572	)		(233,792	)		(165,724	)		—		—		(10,008,777	)		(5,596,322	)
	(119,295	)		(131,701	)		(292	)		(277	)		(1,124	)		(1,288	)		—		—		(783,961	)		(389,183	)
	(807,179	)		(1,285,239	)		(129,682	)		158,837			24,505			13,151			—		—		(3,952,861	)		67,138,680
	(4,517,589	)		(4,540,826	)		(144,456	)		140,358			(202,874	)		(152,227	)		—		—		(14,515,644	)		61,224,525
	(1,155,505	)		(619,067	)		(135,707	)		145,412			(52,643	)		(127,113	)		—		—		(4,102,756	)		67,642,029
	28,517,323			29,136,390			181,833			36,421			1,420,424			1,547,537			—		—		81,454,797			13,812,768
	$27,361,818			$28,517,323			$46,126			$181,833			$1,367,781			$1,420,424			$—		$—		$77,352,041			$81,454,797


	33,688			23,004			1,176			17,061			7,791			6,009			—		—		200,636			2,350,566
	(147,027	)		(146,256	)		(12,803	)		(4,867	)		(26,639	)		(20,928	)		—		—		(608,170	)		(323,143	)

	(113,339	)		(123,252	)		(11,627	)		12,194			(18,848	)		(14,919	)		—		—		(407,534	)		2,027,423



	AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (continued)										Advanced Series Trust

	Invesco V.I. Main Street Small Cap Fund^® — Series II shares						Invesco V.I. Technology Fund — Series I shares				AST International Equity Portfolio — Class I Shares

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025		Year ended December 31, 2024		Year ended December 31, 2025		Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(340,869	)		$(284,381	)		$—		$—		$—		$—
Net realized gain (loss) on investments		473,418			435,371			—		—		—		—
Change in unrealized appreciation (depreciation) on investments		(932,171	)		398,909			—		—		—		—
Capital gain distributions		2,443,036			926,752			—		—		—		—
Increase (decrease) in net assets from operations		1,643,414			1,476,651			—		—		—		—

From capital transactions (note 4):
Net premiums		95,452			63,025			—		—		—		—
Transfers for contract benefits and terminations		(3,144,899	)		(2,150,718	)		—		—		—		—
Administrative expenses		(194,024	)		(117,855	)		—		—		—		—
Transfers between subaccounts (including fixed account), net		(247,311	)		13,536,248			—		—		—		—
Increase (decrease) in net assets from capital transactions		(3,490,782	)		11,330,700			—		—		—		—
Increase (decrease) in net assets		(1,847,368	)		12,807,351			—		—		—		—
Net assets at beginning of year		24,603,058			11,795,707			—		—		—		—
Net assets at end of year		$22,755,690			$24,603,058			$—		$—		$—		$—

Change in units (note 5):
Units purchased		90,579			480,440			—		—		—		—
Units redeemed		(170,068	)		(112,899	)		—		—		—		—
Net increase (decrease) in units from capital transactions with contract owners		(79,489	)		367,541			—		—		—		—



	BlackRock Variable Series Funds, Inc. (continued)

	BlackRock Basic Value V.I. Fund — Class III Shares						BlackRock Global Allocation V.I. Fund — Class III Shares						BlackRock Large Cap Focus Growth V.I. Fund — Class III Shares

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$44,604			$(119,015	)		$2,247,568			$(583,180	)		$(141,816	)		$(135,477	)
Net realized gain (loss) on investments		41,239			112,563			(289,709	)		(677,554	)		269,645			340,067
Change in unrealized appreciation (depreciation) on investments		865,355			1,379,941			4,841,262			554,915			(797,377	)		1,264,161
Capital gain distributions		1,677,993			953,326			10,432,733			8,862,319			1,550,825			725,013
Increase (decrease) in net assets from operations		2,629,191			2,326,815			17,231,854			8,156,500			881,277			2,193,764

From capital transactions (note 4):
Net premiums		156,613			35,869			34,844			114,864			10,228			5,945
Transfers for contract benefits and terminations		(691,601	)		(1,844,052	)		(14,078,901	)		(15,362,599	)		(408,109	)		(2,095,908	)
Administrative expenses		(77,696	)		(171,993	)		(1,240,290	)		(1,343,028	)		(45,804	)		(43,679	)
Transfers between subaccounts (including fixed account), net		(432,807	)		(14,796,764	)		(6,460,520	)		(3,636,021	)		(569,496	)		(314,050	)
Increase (decrease) in net assets from capital transactions		(1,045,491	)		(16,776,940	)		(21,744,867	)		(20,226,784	)		(1,013,181	)		(2,447,692	)
Increase (decrease) in net assets		1,583,700			(14,450,125	)		(4,513,013	)		(12,070,284	)		(131,904	)		(253,928	)
Net assets at beginning of year		12,548,843			26,998,968			111,722,292			123,792,576			9,438,602			9,692,530
Net assets at end of year		$14,132,543			$12,548,843			$107,209,279			$111,722,292			$9,306,698			$9,438,602

Change in units (note 5):
Units purchased		16,241			52,577			144,625			186,892			461			1,944
Units redeemed		(48,347	)		(731,810	)		(1,250,896	)		(1,338,055	)		(15,460	)		(54,394	)
Net increase (decrease) in units from capital transactions with contract owners		(32,106	)		(679,233	)		(1,106,271	)		(1,151,163	)		(14,999	)		(52,450	)



Columbia Funds Variable Series Trust II												Deutsche DWS Variable Series II						Eaton Vance Variable Trust						Federated Hermes Insurance Series

CTIVP^® — Principal Large Cap Growth Fund — Class 1						Columbia Variable Portfolio — Overseas Core Fund — Class 2						DWS Small Mid Cap Value VIP — Class B Shares						VT Floating-Rate Income Fund						Federated Hermes High Income Bond Fund II — Primary Shares

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$(397,726	)		$(1,133,098	)		$16,968			$672,531			$(1,289	)		$(83	)		$848,899			$1,320,169			$189,410			$178,809
	2,278,807			24,591,271			322,108			250,632			1,446			117			(145,407	)		(157,530	)		(78,688	)		(114,603	)
	1,155,297			(11,047,024	)		2,089,427			(199,294	)		13,973			(102	)		(347,551	)		53,860			151,509			134,298
	—			—			—			—			1,228			530			—			—			—			—
	3,036,378			12,411,149			2,428,503			723,869			15,358			462			355,941			1,216,499			262,231			198,504


	194,004			152,381			8,835			39,826			—			—			25,974			65,560			360			12,757
	(2,707,314	)		(8,153,330	)		(872,200	)		(2,509,110	)		(7,045	)		(474	)		(2,146,116	)		(2,347,336	)		(814,365	)		(768,244	)
	(151,204	)		(635,528	)		(28,243	)		(120,796	)		(53	)		(26	)		(160,392	)		(196,082	)		(2,989	)		(3,582	)
	(1,756,815	)		(76,440,999	)		(636,198	)		(14,142,751	)		124,301			(14	)		50,822			(3,017,637	)		85,797			84,858
	(4,421,329	)		(85,077,476	)		(1,527,806	)		(16,732,831	)		117,203			(514	)		(2,229,712	)		(5,495,495	)		(731,197	)		(674,211	)
	(1,384,951	)		(72,666,327	)		900,697			(16,008,962	)		132,561			(52	)		(1,873,771	)		(4,278,996	)		(468,966	)		(475,707	)
	27,066,367			99,732,694			7,402,315			23,411,277			10,798			10,850			18,180,821			22,459,817			4,282,985			4,758,692
	$25,681,416			$27,066,367			$8,303,012			$7,402,315			$143,359			$10,798			$16,307,050			$18,180,821			$3,814,019			$4,282,985


	32,027			118,492			23,196			126,671			6,184			19			158,782			173,223			4,053			7,971
	(169,926	)		(3,288,708	)		(117,436	)		(1,342,060	)		(834	)		(38	)		(306,043	)		(525,773	)		(24,618	)		(27,089	)

	(137,899	)		(3,170,216	)		(94,240	)		(1,215,389	)		5,350			(19	)		(147,261	)		(352,550	)		(20,565	)		(19,118	)



	Federated Hermes Insurance Series (continued)

	Federated Hermes High Income Bond Fund II — Service Shares						Federated Hermes Kaufmann Fund II — Service Shares						Federated Hermes Managed Volatility Fund II — Primary Shares

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$222,343			$203,449			$(383,753	)		$(199,156	)		$93,370			$54,193
Net realized gain (loss) on investments		(88,612	)		(95,632	)		83,361			170,214			19,830			(19,691	)
Change in unrealized appreciation (depreciation) on investments		183,704			114,651			(253,583	)		1,935,137			109,119			837,057
Capital gain distributions		—			—			2,739,722			326,574			113,417			—
Increase (decrease) in net assets from operations		317,435			222,468			2,185,747			2,232,769			335,736			871,559

From capital transactions (note 4):
Net premiums		4,721			5,526			50,096			34,972			20,806			18,648
Transfers for contract benefits and terminations		(777,650	)		(613,724	)		(2,357,783	)		(1,747,919	)		(830,784	)		(927,888	)
Administrative expenses		(14,649	)		(15,599	)		(197,867	)		(120,281	)		(5,551	)		(6,308	)
Transfers between subaccounts (including fixed account), net		111,253			140,436			(663,350	)		12,917,820			120,712			54,090
Increase (decrease) in net assets from capital transactions		(676,325	)		(483,361	)		(3,168,904	)		11,084,592			(694,817	)		(861,458	)
Increase (decrease) in net assets		(358,890	)		(260,893	)		(983,157	)		13,317,361			(359,081	)		10,101
Net assets at beginning of year		5,224,324			5,485,217			23,689,500			10,372,139			6,646,395			6,636,294
Net assets at end of year		$4,865,434			$5,224,324			$22,706,343			$23,689,500			$6,287,314			$6,646,395

Change in units (note 5):
Units purchased		9,852			15,356			91,072			581,566			7,634			7,335
Units redeemed		(34,474	)		(34,123	)		(182,701	)		(110,047	)		(33,622	)		(34,177	)
Net increase (decrease) in units from capital transactions with contract owners		(24,622	)		(18,767	)		(91,629	)		471,519			(25,988	)		(26,842	)



	Fidelity^® Variable Insurance Products Fund (continued)

	VIP Dynamic Capital Appreciation Portfolio — Service Class 2						VIP Equity-Income Portfolio^SM — Initial Class						VIP Equity-Income Portfolio^SM — Service Class 2

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(19,228	)		$(24,764	)		$237,465			$210,009			$10,044			$(21,665	)
Net realized gain (loss) on investments		24,592			121,106			1,881,155			2,106,686			1,062,325			1,206,671
Change in unrealized appreciation (depreciation) on investments		(71,692	)		172,271			4,339,391			2,377,202			1,952,086			1,101,826
Capital gain distributions		327,171			70,972			3,340,955			3,602,377			1,749,761			1,894,319
Increase (decrease) in net assets from operations		260,843			339,585			9,798,966			8,296,274			4,774,216			4,181,151

From capital transactions (note 4):
Net premiums		980			980			236,176			359,732			149,136			106,678
Transfers for contract benefits and terminations		(86,630	)		(341,739	)		(7,447,342	)		(9,699,560	)		(3,350,436	)		(4,570,232	)
Administrative expenses		(4,937	)		(5,217	)		(33,679	)		(40,313	)		(125,150	)		(139,150	)
Transfers between subaccounts (including fixed account), net		3,666			114,605			(707,937	)		(180,765	)		(1,220,307	)		(1,256,910	)
Increase (decrease) in net assets from capital transactions		(86,921	)		(231,371	)		(7,952,782	)		(9,560,906	)		(4,546,757	)		(5,859,614	)
Increase (decrease) in net assets		173,922			108,214			1,846,184			(1,264,632	)		227,459			(1,678,463	)
Net assets at beginning of year		1,681,739			1,573,525			60,957,933			62,222,565			31,026,886			32,705,349
Net assets at end of year		$1,855,661			$1,681,739			$62,804,117			$60,957,933			$31,254,345			$31,026,886

Change in units (note 5):
Units purchased		449			2,626			9,557			15,940			60,006			39,903
Units redeemed		(1,732	)		(6,305	)		(82,681	)		(144,957	)		(190,042	)		(215,494	)
Net increase (decrease) in units from capital transactions with contract owners		(1,283	)		(3,679	)		(73,124	)		(129,017	)		(130,036	)		(175,591	)



	Fidelity^® Variable Insurance Products Fund (continued)

	VIP Growth Portfolio — Service Class 2						VIP Investment Grade Bond Portfolio — Service Class 2						VIP Mid Cap Portfolio — Initial Class

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025		Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(266,451	)		$(279,981	)		$758,761			$942,577			$—		$—
Net realized gain (loss) on investments		724,513			1,002,100			(611,124	)		(497,089	)		—		—
Change in unrealized appreciation (depreciation) on investments		(639,328	)		(431,591	)		2,217,815			(597,476	)		—		—
Capital gain distributions		2,277,241			4,046,980			—			—			—		—
Increase (decrease) in net assets from operations		2,095,975			4,337,508			2,365,452			(151,988	)		—		—

From capital transactions (note 4):
Net premiums		26,614			35,011			74,273			29,105			—		—
Transfers for contract benefits and terminations		(2,332,210	)		(1,469,601	)		(6,961,707	)		(4,390,785	)		—		—
Administrative expenses		(41,734	)		(42,948	)		(525,817	)		(367,824	)		—		—
Transfers between subaccounts (including fixed account), net		(879,465	)		(412,965	)		822,842			32,666,503			—		—
Increase (decrease) in net assets from capital transactions		(3,226,795	)		(1,890,503	)		(6,590,409	)		27,936,999			—		—
Increase (decrease) in net assets		(1,130,820	)		2,447,005			(4,224,957	)		27,785,011			—		—
Net assets at beginning of year		18,669,800			16,222,795			49,101,046			21,316,035			—		—
Net assets at end of year		$17,538,980			$18,669,800			$44,876,089			$49,101,046			$—		$—

Change in units (note 5):
Units purchased		13,489			24,937			647,061			2,875,817			—		—
Units redeemed		(78,098	)		(69,937	)		(1,165,110	)		(600,385	)		—		—
Net increase (decrease) in units from capital transactions with contract owners		(64,609	)		(45,000	)		(518,049	)		2,275,432			—		—



	Franklin Templeton Variable Insurance Products Trust (continued)

	Franklin Large Cap Growth VIP Fund — Class 2 Shares						Franklin Mutual Shares VIP Fund — Class 2 Shares						Templeton Foreign VIP Fund — Class 1 Shares

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(1,848	)		$(2,774	)		$69,181			$54,218			$34,599			$34,435
Net realized gain (loss) on investments		5,711			1,695			(137,509	)		(278,309	)		66,215			17,235
Change in unrealized appreciation (depreciation) on investments		(19,452	)		21,234			11,834			1,822,106			453,697			(118,240	)
Capital gain distributions		21,454			20,063			1,964,423			434,013			202,588			—
Increase (decrease) in net assets from operations		5,865			40,218			1,907,929			2,032,028			757,099			(66,570	)

From capital transactions (note 4):
Net premiums		—			—			45,682			34,946			1,964			23,995
Transfers for contract benefits and terminations		(5,504	)		(20,216	)		(2,434,477	)		(2,184,577	)		(439,603	)		(257,747	)
Administrative expenses		(299	)		(850	)		(192,421	)		(210,448	)		(3,373	)		(4,025	)
Transfers between subaccounts (including fixed account), net		(77,672	)		(1,444	)		(923,903	)		(918,932	)		(108,752	)		21,213
Increase (decrease) in net assets from capital transactions		(83,475	)		(22,510	)		(3,505,119	)		(3,279,011	)		(549,764	)		(216,564	)
Increase (decrease) in net assets		(77,610	)		17,708			(1,597,190	)		(1,246,983	)		207,335			(283,134	)
Net assets at beginning of year		190,120			172,412			20,924,032			22,171,015			2,936,220			3,219,354
Net assets at end of year		$112,510			$190,120			$19,326,842			$20,924,032			$3,143,555			$2,936,220

Change in units (note 5):
Units purchased		41			24			119,724			124,154			12,034			9,316
Units redeemed		(1,509	)		(466	)		(280,853	)		(292,531	)		(41,496	)		(22,328	)
Net increase (decrease) in units from capital transactions with contract owners		(1,468	)		(442	)		(161,129	)		(168,377	)		(29,462	)		(13,012	)



	Goldman Sachs Variable Insurance Trust (continued)						Janus Aspen Series

	Goldman Sachs Mid Cap Value Fund — Institutional Shares						Janus Henderson Balanced Portfolio — Institutional Shares						Janus Henderson Balanced Portfolio — Service Shares

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(77,974	)		$(136,730	)		$285,987			$298,890			$(73,387	)		$(54,806	)
Net realized gain (loss) on investments		269,516			393,164			2,888,498			3,636,936			4,997,531			4,776,184
Change in unrealized appreciation (depreciation) on investments		(975,790	)		981,966			1,360,388			2,451,534			1,247,532			4,339,728
Capital gain distributions		2,533,848			1,463,686			1,576,006			—			2,191,462			—
Increase (decrease) in net assets from operations		1,749,600			2,702,086			6,110,879			6,387,360			8,363,138			9,061,106

From capital transactions (note 4):
Net premiums		104,125			114,654			146,332			104,173			255,211			61,713
Transfers for contract benefits and terminations		(2,755,180	)		(3,516,193	)		(5,985,168	)		(7,496,800	)		(7,037,127	)		(8,458,654	)
Administrative expenses		(36,467	)		(40,434	)		(32,032	)		(38,546	)		(353,032	)		(374,521	)
Transfers between subaccounts (including fixed account), net		(468,803	)		(704,506	)		388,554			(178,739	)		(3,311,789	)		(723,813	)
Increase (decrease) in net assets from capital transactions		(3,156,325	)		(4,146,479	)		(5,482,314	)		(7,609,912	)		(10,446,737	)		(9,495,275	)
Increase (decrease) in net assets		(1,406,725	)		(1,444,393	)		628,565			(1,222,552	)		(2,083,599	)		(434,169	)
Net assets at beginning of year		25,563,106			27,007,499			48,066,368			49,288,920			71,876,077			72,310,246
Net assets at end of year		$24,156,381			$25,563,106			$48,694,933			$48,066,368			$69,792,478			$71,876,077

Change in units (note 5):
Units purchased		6,864			7,554			24,588			24,133			102,501			158,198
Units redeemed		(57,591	)		(75,972	)		(96,100	)		(138,086	)		(423,969	)		(464,690	)
Net increase (decrease) in units from capital transactions with contract owners		(50,727	)		(68,418	)		(71,512	)		(113,953	)		(321,468	)		(306,492	)



	Legg Mason Partners Variable Equity Trust (continued)

	ClearBridge Variable Dividend Strategy Portfolio — Class II						ClearBridge Variable Growth Portfolio — Class II						ClearBridge Variable Large Cap Value Portfolio — Class I

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(2,338	)		$(36,972	)		$(37,039	)		$(38,853	)		$(48,159	)		$(45,255	)
Net realized gain (loss) on investments		312,992			83,151			(138,526	)		(338,924	)		42,264			300,475
Change in unrealized appreciation (depreciation) on investments		(442,086	)		96,099			54,250			(152	)		(162,918	)		(1,191,126	)
Capital gain distributions		559,830			454,270			369,221			643,168			1,110,490			1,779,203
Increase (decrease) in net assets from operations		428,398			596,548			247,906			265,239			941,677			843,297

From capital transactions (note 4):
Net premiums		—			—			12			15,794			81,357			12,982
Transfers for contract benefits and terminations		(604,046	)		(701,053	)		(136,068	)		(501,464	)		(1,172,056	)		(3,489,938	)
Administrative expenses		(6,953	)		(8,004	)		(10,225	)		(11,239	)		(26,063	)		(30,341	)
Transfers between subaccounts (including fixed account), net		(65,046	)		(80,221	)		(124,349	)		(260,750	)		(455,753	)		(559,511	)
Increase (decrease) in net assets from capital transactions		(676,045	)		(789,278	)		(270,630	)		(757,659	)		(1,572,515	)		(4,066,808	)
Increase (decrease) in net assets		(247,647	)		(192,730	)		(22,724	)		(492,420	)		(630,838	)		(3,223,511	)
Net assets at beginning of year		4,378,255			4,570,985			2,296,155			2,788,575			11,721,527			14,945,038
Net assets at end of year		$4,130,608			$4,378,255			$2,273,431			$2,296,155			$11,090,689			$11,721,527

Change in units (note 5):
Units purchased		31,056			2,118			1,431			7,688			10,112			11,250
Units redeemed		(52,256	)		(29,713	)		(7,434	)		(25,794	)		(50,784	)		(187,661	)
Net increase (decrease) in units from capital transactions with contract owners		(21,200	)		(27,595	)		(6,003	)		(18,106	)		(40,672	)		(176,411	)



Lincoln Variable Insurance Products Trust

LVIP American Century Disciplined Core Value Fund — Standard Class II						LVIP American Century Inflation Protection Fund — Service Class						LVIP American Century International Fund — Standard Class II						LVIP American Century Ultra^® Fund — Standard Class II						LVIP American Century Value Fund — Standard Class II

Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$(154	)		$(169	)		$747,250			$292,045			$(1,455	)		$(446	)		$(110	)		$(662	)		$65			$1,063
	1,728			420			(227,853	)		(320,399	)		6,035			1,716			7,183			4,052			3,086			1,110
	2,468			3,226			124,935			14,234			23,791			2,886			(9,125	)		2,552			469			(6,833	)
	—			—			—			—			—			—			—			2,918			4,316			13,705
	4,042			3,477			644,332			(14,120	)		28,371			4,156			(2,052	)		8,860			7,936			9,045


	—			—			26,109			18,763			—			370			—			—			—			—
	(10,418	)		(2,226	)		(1,783,498	)		(2,071,650	)		(24,312	)		(47,824	)		(402	)		(2,388	)		(383	)		(13,601	)
	(11	)		(5	)		(150,662	)		(167,095	)		(257	)		(613	)		—			(253	)		(32	)		(171	)
	(558	)		19,354			132,857			417,502			(48,056	)		13,567			(31,621	)		(6,967	)		(15,912	)		(195,622	)
	(10,987	)		17,123			(1,775,194	)		(1,802,480	)		(72,625	)		(34,500	)		(32,023	)		(9,608	)		(16,327	)		(209,394	)
	(6,945	)		20,600			(1,130,862	)		(1,816,600	)		(44,254	)		(30,344	)		(34,075	)		(748	)		(8,391	)		(200,349	)
	38,909			18,309			14,816,100			16,632,700			239,301			269,645			34,075			34,823			67,584			267,933
	$31,964			$38,909			$13,685,238			$14,816,100			$195,047			$239,301			$ —			$34,075			$59,193			$67,584


	77			827			187,920			204,979			1,010			3,010			14			120			—			619
	(355	)		(176	)		(333,373	)		(350,665	)		(3,863	)		(4,552	)		(535	)		(272	)		(340	)		(8,340	)
	(278	)		651			(145,453	)		(145,686	)		(2,853	)		(1,542	)		(521	)		(152	)		(340	)		(7,721	)



	Lincoln Variable Insurance Products Trust (continued)

	LVIP JPMorgan Core Bond Fund — Standard Class						LVIP JPMorgan Mid Cap Value Fund — Standard Class						LVIP JPMorgan Small Cap Core Fund — Standard Class

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$11,520			$17,521			$(1,462	)		$(1,614	)		$(1,617	)		$(974	)
Net realized gain (loss) on investments		(12,704	)		(23,651	)		(351	)		3,942			8,079			3,357
Change in unrealized appreciation (depreciation) on investments		42,103			10,867			(11,260	)		(9,635	)		(5,820	)		6,437
Capital gain distributions		—			—			18,095			32,113			991			2,200
Increase (decrease) in net assets from operations		40,919			4,737			5,022			24,806			1,633			11,020

From capital transactions (note 4):
Net premiums		—			1,482			—			370			—			370
Transfers for contract benefits and terminations		(78,533	)		(537,039	)		(23,653	)		(27,278	)		(13,515	)		(18,471	)
Administrative expenses		(747	)		(1,536	)		(157	)		(340	)		(83	)		(78	)
Transfers between subaccounts (including fixed account), net		(84,035	)		178,556			(17,191	)		(5,816	)		(124,049	)		150,569
Increase (decrease) in net assets from capital transactions		(163,315	)		(358,537	)		(41,001	)		(33,064	)		(137,647	)		132,390
Increase (decrease) in net assets		(122,396	)		(353,800	)		(35,979	)		(8,258	)		(136,014	)		143,410
Net assets at beginning of year		842,945			1,196,745			203,047			211,305			148,860			5,450
Net assets at end of year		$720,549			$842,945			$167,068			$203,047			$12,846			$148,860

Change in units (note 5):
Units purchased		6,398			25,386			765			1,494			983			8,571
Units redeemed		(18,081	)		(49,990	)		(1,789	)		(3,214	)		(6,904	)		(2,519	)
Net increase (decrease) in units from capital transactions with contract owners		(11,683	)		(24,604	)		(1,024	)		(1,720	)		(5,921	)		6,052



	MFS^® Variable Insurance Trust II												PIMCO Variable Insurance Trust

	MFS^® Income Portfolio — Service Class Shares						MFS^® Massachusetts Investors Growth Stock Portfolio — Service Class Shares						All Asset Portfolio — Advisor Class Shares

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$316			$277			$(71,748	)		$(78,001	)		$88,569			$162,879
Net realized gain (loss) on investments		(79	)		(745	)		199,350			132,096			(72,121	)		(117,029	)
Change in unrealized appreciation (depreciation) on investments		375			599			(445,383	)		176,848			338,535			18,311
Capital gain distributions		—			—			666,573			488,853			—			—
Increase (decrease) in net assets from operations		612			131			348,792			719,796			354,983			64,161

From capital transactions (note 4):
Net premiums		—			—			15,534			2,305			12			46,093
Transfers for contract benefits and terminations		—			(4,788	)		(847,848	)		(571,155	)		(532,823	)		(404,209	)
Administrative expenses		(36	)		(34	)		(8,531	)		(9,560	)		(13,967	)		(15,046	)
Transfers between subaccounts (including fixed account), net		371			924			(608,685	)		(31,309	)		(140,224	)		(172,050	)
Increase (decrease) in net assets from capital transactions		335			(3,898	)		(1,449,530	)		(609,719	)		(687,002	)		(545,212	)
Increase (decrease) in net assets		947			(3,767	)		(1,100,738	)		110,077			(332,019	)		(481,051	)
Net assets at beginning of year		10,977			14,744			5,309,239			5,199,162			3,249,193			3,730,244
Net assets at end of year		$11,924			$10,977			$4,208,501			$5,309,239			$2,917,174			$3,249,193

Change in units (note 5):
Units purchased		69			83			9,804			11,674			4,761			14,096
Units redeemed		(40	)		(434	)		(59,732	)		(33,469	)		(41,316	)		(44,922	)
Net increase (decrease) in units from capital transactions with contract owners		29			(351	)		(49,928	)		(21,795	)		(36,555	)		(30,826	)



	Rydex Variable Trust						State Street Variable Insurance Series Funds, Inc.

	NASDAQ — 100^® Fund						Income V.I.S. Fund — Class 1 Shares						Premier Growth Equity V.I.S. Fund — Class 1 Shares

	Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024

Increase (decrease) in net assets

From operations:
Net investment income (expense)		$(141,808	)		$(121,270	)		$140,359			$125,889			$(400,503	)		$(430,969	)
Net realized gain (loss) on investments		682,563			474,033			(283,326	)		(255,429	)		1,047,970			1,629,844
Change in unrealized appreciation (depreciation) on investments		433,290			1,275,637			454,929			(56,622	)		(1,054,112	)		323,455
Capital gain distributions		534,078			171,029			—			—			4,795,023			5,571,739
Increase (decrease) in net assets from operations		1,508,123			1,799,429			311,962			(186,162	)		4,388,378			7,094,069

From capital transactions (note 4):
Net premiums		2,488			5,945			326,541			186,107			19,676			10,274
Transfers for contract benefits and terminations		(527,714	)		(771,647	)		(1,053,659	)		(905,865	)		(3,422,314	)		(4,549,056	)
Administrative expenses		(36,440	)		(35,436	)		(25,575	)		(28,028	)		(48,796	)		(60,871	)
Transfers between subaccounts (including fixed account), net		(612,370	)		(201,773	)		(390,199	)		(174,597	)		(1,714,626	)		(579,459	)
Increase (decrease) in net assets from capital transactions		(1,174,036	)		(1,002,911	)		(1,142,892	)		(922,383	)		(5,166,060	)		(5,179,112	)
Increase (decrease) in net assets		334,087			796,518			(830,930	)		(1,108,545	)		(777,682	)		1,914,957
Net assets at beginning of year		9,547,005			8,750,487			7,504,341			8,612,886			27,850,705			25,935,748
Net assets at end of year		$9,881,092			$9,547,005			$6,673,411			$7,504,341			$27,073,023			$27,850,705

Change in units (note 5):
Units purchased		5,063			1,759			66,203			47,424			4,667			3,854
Units redeemed		(25,657	)		(31,559	)		(148,772	)		(114,209	)		(82,845	)		(100,820	)
Net increase (decrease) in units from capital transactions with contract owners		(20,594	)		(29,800	)		(82,569	)		(66,785	)		(78,178	)		(96,966	)



The Prudential Series Fund

PSF Mid-Cap Growth Portfolio — Class II Shares						PSF Natural Resources Portfolio — Class II Shares						PSF PGIM Jennison Blend Portfolio — Class II Shares						PSF PGIM Jennison Growth Portfolio — Class II Shares

Period from January 1 to April 11, 2025			Year ended December 31, 2024			Period from January 1 to April 11, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024			Year ended December 31, 2025			Year ended December 31, 2024




	$(76	)		$(282	)		$(19,234	)		$(214,312	)		$(128,129	)		$(71,336	)		$(128,205	)		$(122,896	)
	11,609			1,432			310,892			2,058,755			515,100			132,283			659,024			689,835
	(13,928	)		889			(562,875	)		(636,973	)		1,481,989			912,473			425,569			1,409,528
	—			—			—			—			—			—			—			—
	(2,395	)		2,039			(271,217	)		1,207,470			1,868,960			973,420			956,388			1,976,467


	—			—			—			19,064			17,006			—			12,592			10,038
	(261	)		(1,549	)		(182,431	)		(1,425,253	)		(1,088,257	)		(703,687	)		(474,020	)		(839,161	)
	—			(28	)		(12,153	)		(135,358	)		(46,245	)		(15,240	)		(37,959	)		(38,904	)
	(15,213	)		—			(3,963,965	)		(14,334,937	)		4,030,348			387,667			(541,841	)		(218,571	)
	(15,474	)		(1,577	)		(4,158,549	)		(15,876,484	)		2,912,852			(331,260	)		(1,041,228	)		(1,086,598	)
	(17,869	)		462			(4,429,766	)		(14,669,014	)		4,781,812			642,160			(84,840	)		889,869
	17,869			17,407			4,429,766			19,098,780			4,883,762			4,241,602			8,481,572			7,591,703
	$ —			$17,869			$ —			$4,429,766			$9,665,574			$4,883,762			$8,396,732			$8,481,572


	—			—			10,429			253,318			395,488			41,846			577			2,554
	(366	)		(33	)		(353,708	)		(1,793,786	)		(149,421	)		(76,707	)		(11,248	)		(16,533	)
	(366	)		(33	)		(343,279	)		(1,540,468	)		246,067			(34,861	)		(10,671	)		(13,979	)


	Page
Independent Auditors’ Report		F-1

Statutory Statements of Admitted Assets, Liabilities and Capital and Surplus		F-3

Statutory Statements of Summary of Operations		F-5

Statutory Statements of Changes in Capital and Surplus		F-6

Statutory Statements of Cash Flow		F-7

Notes to Statutory Financial Statements		F-9


	2025		2024
Assets recognized from paid and accrued premium tax offsets and policy surcharges prior year end	$	7.2	$	6.7
Decreases current year:
Premium tax offset applied		0.2		0.3
Accrual true-up		0.3		—
Prior period adjustment		0.2		—
Increases current year:
Prior period adjustment		—		0.5
Current year adjustment		—		0.3

Assets recognized from paid and accrued premium tax offsets and policy surcharges current year end	$	6.5	$	7.2


	Premiums earned									Benefits incurred
	2025			2024			2023			2025			2024			2023
Direct	$	830.6		$	890.4		$	948.4		$	1,951.1		$	1,996.5		$	2,060.9
Assumed		219.9			232.1			236.5			296.1			289.8			279.7
Ceded		(924.2	)		(984.9	)		(964.8	)		(1,557.6	)		(1,601.1	)		(1,585.6	)

Net	$	126.3		$	137.6		$	220.1		$	689.6		$	685.2		$	755.0


	2025		2024
Universal Life Insurance Business
RLIC VI	$	866.8	$	862.5

Term Life Insurance Business
RLIC VI	$	649.2	$	873.2
RLIC X		794.0		830.2


	Non-indexed guarantee less than or equal to 4%		Non-indexed guarantee more than 4%		Non-guaranteed separate accounts		Total
Premiums, considerations or deposits for the year ended December 31, 2025	$	—	$	—	$	15.3	$	15.3

Reserves as of December 31, 2025:
For accounts with assets at:
Fair value	$	2.5	$	1.5	$	4,093.3	$	4,097.3

Total reserves	$	2.5	$	1.5	$	4,093.3	$	4,097.3

By withdrawal characteristics:
With fair value adjustment	$	2.5	$	1.5	$	—	$	4.0
At fair value		—		—		4,093.3		4,093.3

Subtotal		2.5		1.5		4,093.3		4,097.3
Not subject to discretionary withdrawal		—		—		—		—

Total	$	2.5	$	1.5	$	4,093.3	$	4,097.3


	2025
Transfers as reported in the Summary of Operations of the separate accounts statement:
Transfers to separate accounts	$	15.3
Transfers from separate accounts		550.7

Net transfers from separate accounts, per the separate accounts annual statement		(535.4	)
Reconciling adjustments:
Transfer to separate accounts – reinsured		177.8

Net transfers from separate accounts, per the Statutory Statement of Summary of Operations	$	(357.6	)


	2025
Description	Total		General account		Separate accounts
Membership stock — Class A	$	—	$	—	$	—
Membership stock — Class B		11.5		11.5		—
Activity stock		—		—		—
Excess stock		—		—		—

Aggregate total	$	11.5	$	11.5	$	—

Actual or estimated borrowing capacity as determined by the insurer	$	750.0		XXX		XXX


Membership stock	2025 total		Not eligible for redemption		Less than 6 months		6 months to less than 1 year		1 to less than 3 years		3 to 5 years
Class A	$	—	$	—	$	—	$	—	$	—	$	—
Class B		11.5		11.5		—		—		—		—


	Fair value		Carrying value		Aggregate total borrowing
1. Current year total general and separate accounts total collateral pledged (Lines 2+3)	$	—	$	—	$	—
2. Current year general account total collateral pledged		—		—		—
3. Current year separate accounts total collateral pledged		—		—		—
4. Prior year-end total general and separate accounts total collateral pledged		169.9		186.7		50.0


	Fair value		Carrying value		Amount borrowed at time of maximum collateral
1. Current year total general and separate accounts maximum collateral pledged (Lines 2+3)	$	174.0	$	186.1	$	50.1
2. Current year general account maximum collateral pledged		174.0		186.1		50.1
3. Current year separate accounts maximum collateral pledged		—		—		—
4. Prior year-end total general and separate accounts maximum collateral pledged		190.2		200.7		100.0


Description	Does the company have prepayment obligations under the following arrangements (Yes/No)?
Debt		No
Funding agreements		No
Other		No


	2025
	Level 1		Level 2		Level 3		Net asset value (NAV)		Total
Assets
Perpetual Preferred Stock:
Industrial and miscellaneous	$	21.1	$	9.2	$	1.2	$	—	$	31.5

Total preferred stock		21.1		9.2		1.2		—		31.5

Common stock:
Industrial and miscellaneous		33.9		—		11.5		—		45.4

Total common stock		33.9		—		11.5		—		45.4

Cash equivalents:
Money market mutual funds		395.4		—		—		—		395.4

Total cash equivalents		395.4		—		—		—		395.4

Derivative assets:
Equity index options		—		—		17.4		—		17.4

Total derivative assets		—		—		17.4		—		17.4

Separate account assets		4,099.0		12.9		—		—		4,111.9

Total assets	$	4,549.4	$	22.1	$	30.1	$	—	$	4,601.6


	2025
Investments	Beginning balance as of January 1, 2025		Transfers in to Level 3		Transfers out of Level 3		Total gains and (losses) included in net income (loss)		Total gains and (losses) included in surplus			Purchases		Issuances		Sales			Settlements		Ending balance as of December 31, 2025
Preferred and Common stock	$	15.5	$	—	$	—	$	—	$	—		$	—	$	—	$	(2.8	)	$	—	$	12.7
Derivative assets		18.9		—		—		5.4		1.4			12.6		—		(20.9	)		—		17.4

Total assets	$	34.4	$	—	$	—	$	5.4	$	1.4		$	12.6	$	—	$	(23.7	)	$	—	$	30.1


	2024
Investments	Beginning balance as of January 1, 2024		Transfers in to Level 3		Transfers out of Level 3		Total gains and (losses) included in net income (loss)		Total gains and (losses) included in surplus			Purchases		Issuances		Sales			Settlements		Ending balance as of December 31, 2024
Preferred and Common stock	$	18.3	$	—	$	—	$	—	$	(0.1	)	$	—	$	—	$	(2.7	)	$	—	$	15.5
Derivative assets		14.9		—		—		8.0		1.1			16.1		—		(21.2	)		—		18.9

Total assets	$	33.2	$	—	$	—	$	8.0	$	1.0		$	16.1	$	—	$	(23.9	)	$	—	$	34.4