Putnam Capital Manager Variable Life

Monthly Performance Review - 3/31/2026
Fund Information	Cumulative Total Returns As of - 3/31/2026				Monthly Average Annual Total Returns As of - 3/31/2026				Quarterly Average Annual Total Returns As of - 3/31/2026
Variable Investment Subaccounts	Inception Date	30 Day %	90 Day %	YTD %	1 Year %	3 Years %	5 Years %	10 Yrs/Since Inception %^††	1 Year %	5 Years %	10 Yrs/Since Inception %^††
Putnam VT Core Equity FundOpens a PDF	4/30/1998	-5.17	-5.13	-5.13	16.81	19.41	12.47	15.03	16.81	12.47	15.03
Putnam VT Diversified Income FundOpens a PDF	7/25/1994	-1.38	-0.11	-0.11	6.25	6.62	1.74	3.72	6.25	1.74	3.72
Putnam VT Emerging Markets Equity FundOpens a PDF	1/02/1997	-9.45	4.70	4.70	35.82	19.83	4.98	8.28	35.82	4.98	8.28
Putnam VT Focused International Equity Fund ⁴Opens a PDF	7/25/1994	-8.87	-1.18	-1.18	27.90	15.03	7.90	9.95	27.90	7.90	9.95
Putnam VT George Putnam Balanced FundOpens a PDF	4/30/1998	-3.50	-2.09	-2.09	14.89	14.18	8.20	10.16	14.89	8.20	10.16
Putnam VT Global Asset Allocation FundOpens a PDF	7/25/1994	-3.43	-1.00	-1.00	14.67	14.04	7.77	8.64	14.67	7.77	8.64
Putnam VT Global Health Care FundOpens a PDF	4/30/1998	-7.07	-3.07	-3.07	6.45	8.29	7.13	9.54	6.45	7.13	9.54
Putnam VT Government Money Market 7-Day Current Net Yield as of 3/31/2026: 3.29%	7/25/1994	0.28	0.82	0.82	3.77	4.45	3.12	1.95	3.77	3.12	1.95
Putnam VT High Yield FundOpens a PDF	7/25/1994	-1.33	-0.14	-0.14	8.04	8.47	4.07	5.63	8.04	4.07	5.63
Putnam VT Income FundOpens a PDF	7/25/1994	-1.80	0.09	0.09	4.63	4.32	-0.29	2.18	4.63	-0.29	2.18
Putnam VT International Equity FundOpens a PDF	1/02/1997	-9.49	1.09	1.09	28.01	16.09	9.12	8.94	28.01	9.12	8.94
Putnam VT International Value FundOpens a PDF	1/02/1997	-6.83	2.71	2.71	24.58	17.42	11.49	9.67	24.58	11.49	9.67
Putnam VT Large Cap Growth FundOpens a PDF	2/01/2000	-5.60	-9.63	-9.63	15.94	20.64	11.47	17.00	15.94	11.47	17.00
Putnam VT Large Cap Value FundOpens a PDF	5/01/2003	-4.35	0.94	0.94	18.87	18.34	13.43	13.65	18.87	13.43	13.65
Putnam VT Mortgage Securities FundOpens a PDF	1/02/2000	-1.24	2.09	2.09	7.07	7.15	1.02	2.04	7.07	1.02	2.04
Putnam VT Research FundOpens a PDF	9/30/1998	-4.37	-3.19	-3.19	21.38	20.36	12.85	15.05	21.38	12.85	15.05
Putnam VT Small Cap Value FundOpens a PDF	4/30/1999	-5.76	1.54	1.54	15.36	12.70	6.90	9.69	15.36	6.90	9.69
Putnam VT Sustainable Leaders Fund Opens a PDF	7/25/1994	-6.07	-9.35	-9.35	9.23	13.82	7.29	14.07	9.23	7.29	14.07

The average annual total returns reflect the reinvestment of all dividends and capital gains, and the deduction of investment management fees, expenses, as well as the contract’s specific Mortality and Expense Risk Charge, if applicable. The returns do not reflect other life insurance policy charges (sales, administration, and actual cost of insurance) nor any applicable surrender or lapse charges, which would significantly lower the stated returns.

The 7-Day Current Net Yield quotation more closely reflects the current earnings of the fund than the total return quotation.

Returns of less than one year are not annualized.

The table above shows the historical performance of the select Sub-Accounts of the Separate Account available under this Contract. The returns reflect hypothetical investment experience, as if the Contract had been in existence since the inception of the Sub-Accounts, except where the separate account inception date pre-dates the inception of the Sub-Accounts. Please see the product prospectus for information related to the Contract's specific Separate Account.

PLEASE REVIEW THIS MATERIAL WITH A CURRENT VARIABLE LIFE PRODUCT AND/OR FUND PROSPECTUS.

Investors should consider the contract and the underlying portfolios' investment objectives, risks, and charges and expenses carefully before investing. The contract's prospectus and the underlying portfolio prospectus contain information relating to investment objectives, risks, and charges and expenses as well as other important information. You should read the prospectuses carefully before investing.

Life insurance policies contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. For cost and complete details for coverage, contact your licensed financial professional or refer to the prospectus.

An investment in the money market portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment as $1 per share, it is possible to lose money by investing in the fund.

††Since Inception returns are presented for investment options with less than ten years of performance, otherwise the performance reflects for the ten year period.

1. Closed to new and subsequent premium payments and transfers of Account Value.

2. Closed to all premium payments and transfers of account value for policies issued on or after 5/2/2005.

3. Policies issued prior to 10/3/2005 will receive Initial Class shares.

4. Closed to investment for new policies. Fund continues to be available for policies issued prior to 5/1/2006.

5. Closed to investment for new policies. Fund continues to be available for policies issued prior to 10/12/2009.

The issuing companies are Talcott Resolution Life Insurance Company and Talcott Resolution Life and Annuity Insurance Company, Windsor CT. The mailing address for both issuers is 1 Griffin Road North, Windsor, CT 06095-2999.

Variable life insurance products discussed in this material are distributed by Pruco Securities, LLC (Member SIPC).

Putnam Capital Manager Variable Life is a modified single premium variable life insurance policy. Policy form # ILA-SPVL97 or ILA-LSPVL97 and HL-SPVL97 or HL-LSPVL97 and HL-SPVLCPCMNY or HL-LSPVLCPCMNY. Putnam Capital Manager Variable Life is not available in KY.

1008842-00017-00 Ed.10/2025