Pruco Life's

PruLife Private Placement VUL

Monthly Performance Review - 5/31/2022

Past performance does not guarantee future results. Current performance may be lower or higher than the past performance data quoted. The investment return and principal value of an investment will fluctuate so that an investor's units, when redeemed, may be worth more or less than their original cost.
Monthly Performance Review - 5/31/2022
 Fund InformationMonthly Average Annual Total Returns
As of - 5/31/2022
Quarterly Average Annual Total
Returns
As of - 3/31/2022
Variable Investment Subaccounts Inception DateYTD
%
1 Year
%
3 Years
%
5 Years
%
10 Years
%
Since
Inception
%
1 Year
%
5 Years
%
10
Yrs/Since
Inception
%††
Specialty:
AST Cohen & Steers Realty Portfolio Opens a PDF5/08/2001-14.003.549.889.499.698.9923.6111.4610.43
AST T. Rowe Price Natural Resources Portfolio Opens a PDF5/08/20019.5415.4714.077.725.606.8921.697.243.89
Vanguard VIF Real Estate Index Opens a PDF5/08/2001-14.091.847.977.848.859.9221.279.689.63
Global/International:
AST MFS Global Equity Portfolio Opens a PDF5/08/2001-13.74-10.259.987.9110.737.854.4110.7810.47
Vanguard VIF International Portfolio Opens a PDF5/08/2001-25.40-28.5511.448.9310.307.10-16.5313.6010.17
Vanguard VIF Total International Stock Index Portfolio Opens a PDF9/07/2017-10.77-12.076.93No data availableNo data available3.59-1.97No data available4.88
Large-Cap Growth:
American Funds Insurance Series Growth FundOpens a PDF5/08/2001-22.07-12.5319.9616.0516.008.937.3920.9817.00
AST Large-Cap Growth Portfolio3Opens a PDF5/08/2001-25.98-19.2811.7713.2715.538.192.0319.1816.48
Fidelity(R) VIP Contrafund (SM) Portfolio Opens a PDF5/08/2001-20.71-7.3215.2912.0613.069.0712.7115.7413.67
PSF PGIM Jennison Focused Blend Portfolio Opens a PDF5/08/2001-20.58-13.5212.2511.1912.208.342.7015.4912.41
PSF PGIM Jennison Growth Portfolio Opens a PDF5/08/2001-30.28-20.5114.4314.0615.018.043.2720.5616.47
Vanguard VIF Capital Growth Portfolio Opens a PDF12/03/2002-10.11-4.2315.6712.8615.8712.285.3715.1515.64
Vanguard VIF Growth Portfolio Opens a PDF5/08/2001-25.17-16.1413.2914.0214.836.343.9019.3015.79
Large-Cap Blend:
American Funds Insurance Series Growth-Income FundOpens a PDF5/08/2001-12.40-3.5712.5411.4013.446.6410.3713.6213.58
PSF Stock Index PortfolioOpens a PDF5/08/2001-12.87-0.6116.1013.0514.087.5915.2715.6514.33
Vanguard VIF Equity Index Opens a PDF5/08/2001-12.81-0.4516.2713.2214.247.7615.4615.8314.48
Vanguard VIF Mid-Cap Index Opens a PDF5/08/2001-14.19-5.7513.1910.4512.739.358.6712.8512.79
Vanguard VIF Total Stock Market Index Portfolio Opens a PDF1/08/2003-14.16-4.0615.3212.5213.8010.3511.6015.1914.09
Large-Cap Value:
AST Large-Cap Value Portfolio1Opens a PDF5/08/20013.764.5416.3010.9313.506.3415.4111.7012.87
PSF PGIM Jennison Value PortfolioOpens a PDF5/08/2001-5.401.8112.809.7311.016.8813.0910.6510.23
Vanguard VIF Diversified Value Portfolio Opens a PDF5/08/2001-7.570.1216.6510.9411.697.9314.1312.2511.67
Vanguard VIF Equity Income Portfolio Opens a PDF5/08/20010.668.1214.5411.3212.888.3815.1911.6312.28
Mid-Cap Growth:
AST Mid-Cap Growth Portfolio Opens a PDF5/08/2001-26.82-19.756.198.5310.335.92-4.2513.0011.24
PSF Mid-Cap Growth PortfolioOpens a PDF5/08/2001-24.74-19.5412.5611.4211.468.47-3.3215.6212.60
Mid-Cap Blend:
BNY Mellon MidCap Stock PortfolioOpens a PDF5/08/2001-11.14-5.9911.306.5810.465.666.827.8910.47
Small-Cap Growth:
AST Small-Cap Growth Opportunities PortfolioOpens a PDF5/08/2001-28.06-28.923.686.2710.027.33-16.1310.5210.67
AST Small-Cap Growth Portfolio Opens a PDF5/08/2001-23.71-23.919.3210.1811.806.91-9.8414.1412.30
Small-Cap Blend:
PSF Small-Cap Stock Index PortfolioOpens a PDF5/08/2001-11.52-9.0612.859.4512.439.420.8710.5612.26
PSF Small-Cap Value PortfolioOpens a PDF5/08/2001-8.30-5.2910.187.0910.457.914.927.8510.18
Small-Cap Value:
AST Small-Cap Value PortfolioOpens a PDF5/08/2001-7.44-4.2011.986.4710.477.716.426.8910.01
Fixed Income:
AST Core Fixed Income Portfolio Opens a PDF11/19/2007-11.33-10.91-0.210.992.483.30-5.132.243.07
MFS Total Return Bond SeriesOpens a PDF5/08/2001-9.47-8.450.571.532.304.36-3.702.672.86
PSF PGIM High Yield Bond PortfolioOpens a PDF5/08/2001-7.35-4.334.864.746.146.860.475.866.43
Vanguard VIF Global Bond Index Opens a PDF9/07/2017-8.89-8.33-0.41No data availableNo data available0.85-4.42No data available1.64
Vanguard VIF High Yield Bond Portfolio Opens a PDF5/08/2001-6.89-4.393.033.264.855.55-0.724.255.11
Vanguard VIF Short Term Investment Grade Portfolio Opens a PDF5/08/2001-4.30-5.000.951.541.843.14-3.641.801.94
Vanguard VIF Total Bond Market Index Opens a PDF5/08/2001-9.09-8.42-0.121.061.563.68-4.182.052.12
Money Market:
AST Government Money Market Portfolio
7-Day Current Net Yield as of 5/31/2022:0.21%
5/08/20010.010.010.370.700.361.040.000.710.35
Asset Allocation:
Vanguard VIF Balanced Portfolio Opens a PDF5/08/2001-11.15-2.699.878.559.767.757.7810.149.88
Vanguard VIF Conservative Allocation Portfolio Opens a PDF10/19/2011-10.30-7.684.884.705.725.86-0.146.226.03
Vanguard VIF Moderate Allocation Opens a PDF10/19/2011-11.10-7.537.346.347.657.701.878.167.80
Small-/Mid-Cap Growth:
Vanguard VIF Small Company Growth Portfolio Opens a PDF5/08/2001-21.06-19.118.438.5711.798.64-3.9411.9612.38
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 contract’s specific Mortality and Expense Risk Charge. 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. You may obtain a personalized illustration, from your licensed financial professional, which reflects the cost of your policy's insurance protection.
"Cumulative Total Return" is the difference between the end of period unit value and the beginning of period unit value, all divided by the beginning of period unit value, expressed as a percentage. It is calculated using the change in the unit value during the period and dividing by the starting unit value. Returns of less than one year are not annualized.
The yield quotation more closely reflects the current earnings of the fund than the total return quotation.

The table above shows the historical performance of the subaccounts of the Pruco Life Variable Contract Account M and M-2 separate accounts, which were established, May 8, 2001. The performance in this table assumes that the subaccount was available from inception of the separate account that supports your variable life policy or, in cases where the subaccount was created after the separate account, from inception date of the subaccount. Performance may be hypothetical for periods prior to when the subaccount was added to the separate account, when indicated by a footnote.

PLEASE REVIEW THIS MATERIAL WITH A CURRENT VARIABLE PRODUCT PRIVATE OFFERING MEMORANDUM, PRODUCT MATERIAL (product brochure or illustration).
Investors should consider the contract's private offering memorandum and the underlying portfolios' investment objectives, risks, charges and expenses carefully before investing. The contract's private offering memorandum and the underlying portfolio prospectus contain information relating to investment objectives, risks, and charges and expenses as well as other important information. This and other important information may be found in the private offering memorandum for the policy and in the prospectus or private offering memorandum for each underlying investment option. A copy of the prospectus can be obtained from the Pruco Private Placement Variable Universal Life Service Team at (800) 656-6960. You should read the prospectuses and private offering memorandum carefully before investing.
An investment in the Advanced Series Trust (AST) Government Money Market Portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although Money Market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Portfolio.
Small cap stocks may be subject to more erratic movements than large cap stocks; foreign securities are subject to currency fluctuation and political uncertainty. Fixed income investments are subject to interest rate risks, and their value will decline as interest rates rise. These risks may result in greater share price volatility.
With respect to the SP Portfolios of The Prudential Series Fund, the Portfolio's investment manager (Prudential Investments LLC) is absorbing a portion of the expenses of certain portfolios. That expense absorption may be discontinued at any time. Absent such expense absorption, the performance quoted would be lower. Performance returns without the expense absorption are available without charge upon request from your variable life and variable annuity customer service call centers.
The Prudential Series Fund (PSF) and Advanced Series Trust (AST) investment portfolios are available to the public only through variable life and variable annuity contracts. The performance of these portfolios is not related to that of any other retail mutual funds, despite any similarities in their names, investment objectives or policies.
Like most variable life insurance policies, PruLife® Private Placement Variable Universal Life contains exclusions, limitations, reductions of benefits, and terms for keeping them in force. For cost and complete details for coverage, refer to the private offering memorandum.
PruLife® Private Placement Variable Universal Life is a private placement variable life policy issued by Pruco Life Insurance Company located at 213 Washington Street, Newark, NJ 07102-3777 and distributed by Pruco Securities, LLC, 751 Broad Street, Newark, NJ 07102-3777. Both are Prudential Financial Companies.
†This document is in Adobe Acrobat format and requires the Adobe Acrobat Reader 3.0 (or later) plug-in for viewing.opens in a new windowObtain the plug-inopens in a new window and instructions for installation free of charge.

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

PruLife Private Placement offers underlying investment options that invest in funds offered through the Advanced Series Trust. These underlying investment options have the prefix "AST". The AST underlying investment options are also available in variable annuity contracts we offer. Some of these variable annuity contracts offer optional living benefits that utilize a predetermined mathematical formula (the "formula") to manage the guarantees offered in connection with those optional benefits. You should be aware that the operation of the formula in those variable annuity contracts may result in large-scale asset flows into and out of the underlying funds through a series of transfers. In addition to increasing the funds' expenses, the asset flows may adversely affect performance by (i) requiring the funds to purchase or sell securities at inopportune times; (ii) otherwise limiting the sub-advisor's ability to fully implement the funds' investment strategies; or (iii) requiring the funds to hold a larger portion of their assets in highly liquid securities than they otherwise would hold.

1 Effective February 14, 2022, AST Hotchkis & Wiley Large-Cap Value Portfolio was renamed AST Large-Cap Value Portfolio.

2  Effective May 02, 2022, Goldman Sachs Growth Opportunities Fund was renamed Goldman Sachs Mid Cap Growth Fund.

3  Effective June 13, 2022, AST Loomis Sayles Large-Cap Growth Portfolio, merged into AST Large-Cap Growth Portfolio formally known as (AST T. Rowe Price Large-Cap Growth Portfolio).

Before investors allocate to these underlying investment options, you should consider the impact the formula will have on each fund's risk profile, expenses, and performance. Please see the prospectus for more information and work with your financial professional to determine which funds are appropriate for your needs.
The policy form numbers for policies purchased on or before December 31, 2019 are PPVULD-2015 or ICC15 PPVULD-2015 and may be followed by a state and/or other codes.
For Compliance use Only1005377-00013-00 Ed.06/2022