Putnam Capital Manager Variable Life

Monthly Performance Review - 8/31/2020
Fund Information	Cumulative Total Returns As of - 8/31/2020				Monthly Average Annual Total Returns As of - 8/31/2020				Quarterly Average Annual Total Returns As of - 6/30/2020
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 Diversified Income FundOpens a PDF	7/25/1994	0.56	2.67	-5.99	-3.05	2.36	3.15	3.51	-2.83	2.76	3.69
Putnam VT Emerging Markets Equity Fund ¹⁴Opens a PDF	1/02/1997	4.02	25.09	10.38	22.96	6.64	7.39	7.30	2.18	3.09	6.52
Putnam VT Equity Income FundOpens a PDF	5/01/2003	4.41	7.89	-5.54	6.58	7.56	9.07	12.59	-1.80	6.43	12.18
Putnam VT George Putnam Balanced FundOpens a PDF	4/30/1998	4.28	10.64	9.72	17.33	11.58	10.85	10.73	9.20	8.31	10.14
Putnam VT Global Asset Allocation FundOpens a PDF	7/25/1994	3.14	9.27	5.66	11.03	6.88	7.59	9.37	3.17	5.41	8.89
Putnam VT Global Equity Fund ³Opens a PDF	7/25/1994	4.87	13.37	2.48	12.40	7.34	8.07	10.59	0.89	4.83	9.85
Putnam VT Global Health Care FundOpens a PDF	4/30/1998	2.65	4.84	8.11	26.52	11.81	7.64	14.44	19.21	5.49	14.18
Putnam VT Government Money Market 7-Day Current Net Yield as of 8/31/2020:0.00%Opens a PDF	7/25/1994	0.00	0.00	0.24	0.68	1.23	0.79	0.40	1.00	0.79	0.40
Putnam VT Growth Opportunities FundOpens a PDF	2/01/2000	9.46	23.06	34.89	46.30	27.02	22.36	19.58	25.88	17.48	17.86
Putnam VT High Yield FundOpens a PDF	7/25/1994	1.01	6.20	0.48	3.56	4.12	5.49	6.21	-0.83	3.83	6.01
Putnam VT Income FundOpens a PDF	7/25/1994	-0.61	1.88	3.91	3.91	5.80	4.53	4.84	6.95	4.24	5.01
Putnam VT International Equity FundOpens a PDF	1/02/1997	4.02	13.11	-0.59	10.56	2.68	4.42	6.42	-1.68	1.41	6.20
Putnam VT International Value FundOpens a PDF	1/02/1997	5.05	9.95	-9.87	2.39	-1.68	2.14	4.52	-7.99	-0.30	4.61
Putnam VT Mortgage Securities FundOpens a PDF	1/02/2000	1.17	3.35	-5.86	-2.81	2.01	1.58	2.01	-1.05	1.43	2.16
Putnam VT Multi-Cap Core Fund Fund ⁴Opens a PDF	4/30/1998	8.16	15.90	6.55	21.57	13.00	12.87	14.60	6.08	8.86	13.30
Putnam VT Research FundOpens a PDF	9/30/1998	7.41	16.24	11.48	24.17	15.34	14.63	15.39	9.56	10.61	14.31
Putnam VT Small Cap Value FundOpens a PDF	4/30/1999	5.45	11.53	-18.89	-6.82	-4.05	1.98	8.65	-18.83	-0.61	7.78
Putnam VT Sustainable Leaders Fund Opens a PDF	7/25/1994	7.70	19.76	19.48	31.65	20.22	18.05	17.35	13.65	13.85	16.01

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 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.

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

The table above shows the historical performance of subaccounts of the Talcott Resolution Life Insurance Company and Talcott Resolution Life and Annuity Insurance Company, Talcott Resolution Life and Annuity Five Separate account, available through Putnam Capital Manager Variable Life policy.

The returns reflect hypothetical investment experience of the subaccounts, as if Putnam Capital Manager Variable Life had been in existence since the inception of the Talcott Resolution Life and Annuity Five Separate account, 7/25/1994, except where separate account inception date, pre-dates the inception of the subaccount.

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 investment for new policies. Fund continues to be available for policies issued prior to 11/2/2003.

2. Closed to investment for new policies. Fund continues to be available for policies issued prior to 8/2/2004.

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

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

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

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

7. Effective end of business August 31, 2015, the Invesco V.I. Mid Cap Core Equity Fund will be closed for new investments or re-allocations to the fund.

8. Effective 12/1/2015, The Fidelity VIP Strategic Income Fund is closed to new investments or re-allocations to the fund.

9. Effective end of business July 13, 2016, the Putnam VT Voyager Fund has been closed for new investments and re-allocations in to the fund.

10. Effective end of business October 17, 2016, the Invesco V.I. Core Equity Fund has been closed for new investments and re-allocations in to the fund.

11. Effective end of business February 7, 2017, the following investment options has been closed for new investments and re-allocations: Morgan Stanley Variable Insurance Fund, Inc Global Infrastructure Portfolio, Morgan Stanley Variable Insurance Fund, Inc Growth Portfolio, Morgan Stanley Mid-Cap Growth Portfolio, and Invesco V.I. Equity and Income Fund.

12. Effective November 15, 2018, the Franklin Mutual Shares VIP Fund was closed to new money/additional deposits.

13. Effective April 30, 2019, the Putnam VT Small Cap Growth Portfolio was closed to new money.

14. Effective end of business April 30, 2020 the Putnam VT International Growth Fund was renamed Putnam VT Emerging Markets Equity Fund.

15. Effective end of business April 30, 2020 the Invesco V.I. Mid Cap Growth Fund merged into Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund - Series I.

16. Effective end of business May 1, 2020 the American Funds Global Bond Fund was renamed the American Funds Capital World Bond Fund.

17. Effective end of business April 1, 2020 the Lord Abbett Calibrated Dividend Growth Portfolio was renamed the Lord Abbett Dividend Growth Portfolio.

The issuing companies of 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 # 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.

1008842-00006-00 Ed.5/2020

Footnotes