Pruco Life's PruSelectSMIII

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 - 4/30/2021
Fund Information	Monthly Average Annual Total Returns As of - 4/30/2021							Quarterly Average Annual Total Returns As of - 3/31/2021
Variable Investment Subaccounts	Inception Date	YTD %	1 Year %	3 Years %	5 Years %	10 Years %	Since Inception %	1 Year %	5 Years %	10 Yrs/Since Inception %^††
Specialty:
Invesco VI Managed Volatility Fund Opens a PDF	12/30/1994	7.73	23.26	4.34	6.24	6.88	6.25	23.75	6.21	7.04
Invesco VI Technology Fund Opens a PDF	5/20/1997	7.04	54.49	25.54	25.76	14.79	8.95	68.01	23.94	14.44
Global/International:
AST International Value Portfolio ⁹Opens a PDF	5/01/1995	6.82	38.92	1.90	5.58	3.00	4.54	45.41	5.57	3.38
Janus Henderson Overseas Portfolio Opens a PDF	5/02/1994	9.11	54.47	9.64	12.50	1.43	8.12	61.97	11.83	1.03
PSF Global Portfolio ¹⁴Opens a PDF	4/17/1989	10.06	47.06	14.44	14.71	10.29	6.95	54.58	13.91	10.22
T.Rowe Price International Stock Portfolio Opens a PDF	3/31/1994	4.44	40.83	9.40	10.92	6.02	5.30	50.19	10.84	6.42
Large-Cap Growth:
AST T. Rowe Price Large Cap Growth Portfolio ¹Opens a PDF	5/01/1996	9.01	52.23	23.57	24.83	17.86	10.01	64.36	23.22	17.20
Janus Henderson Research Portfolio Opens a PDF	9/13/1993	7.33	46.38	22.98	19.70	14.46	9.49	57.15	18.01	14.16
MFS Growth Series Portfolio Opens a PDF	7/24/1995	8.05	42.52	23.78	22.44	16.65	10.75	50.27	20.51	16.04
PSF PGIM Jennison Blend Portfolio ¹⁴Opens a PDF	4/17/1989	7.92	52.15	18.17	18.28	12.49	9.16	63.02	17.09	12.22
PSF PGIM Jennison Growth Portfolio ¹⁴Opens a PDF	4/25/1995	4.22	59.78	26.52	25.23	17.87	11.66	71.35	23.21	17.46
Large-Cap Blend:
American Century VP Disciplined Core Value FundOpens a PDF	10/30/1997	14.78	45.43	13.87	14.40	11.95	7.60	56.90	13.50	12.00
PSF Stock Index Portfolio ¹⁴Opens a PDF	4/17/1989	11.64	45.26	18.08	16.88	13.64	9.88	55.61	15.76	13.39
Large-Cap Value:
AST Hotchkis & Wiley Large-Cap Value Opens a PDF	1/03/1994	22.44	70.85	11.02	13.12	11.44	7.63	86.67	13.17	11.33
PSF PGIM Jennison Value Portfolio ¹⁴Opens a PDF	4/17/1989	15.38	45.96	11.24	12.14	8.57	8.53	57.29	11.78	8.56
Mid-Cap Growth:
Janus Henderson Enterprise Portfolio Opens a PDF	9/13/1993	9.08	50.59	19.18	19.07	14.63	10.71	64.68	18.14	14.54
Invesco V.I. Discovery Mid Cap Growth Fund ¹⁶Opens a PDF	10/16/2000	7.44	58.70	24.03	21.25	14.53	4.11	70.24	20.00	14.16
PSF Mid-Cap Growth Portfolio ¹⁴Opens a PDF	9/22/2000	5.60	58.65	25.13	20.34	13.77	8.41	76.53	19.23	13.68
Mid-Cap Blend:
BNY Mellon MidCap Stock PortfolioOpens a PDF	5/01/1998	18.13	62.49	10.06	10.67	10.25	7.82	75.59	9.63	10.03
Mid-Cap Value:
American Century VP Value Fund Opens a PDF	5/01/1996	17.44	49.24	11.35	10.96	10.50	8.32	62.85	11.01	10.46
Small-/Mid-Cap Growth:
Franklin Small-Mid Cap Growth VIP Fund Opens a PDF	1/06/1999	5.95	67.09	25.86	21.14	13.28	9.28	86.59	20.12	12.93
Small-Cap Growth:
AST Small-Cap Growth Portfolio ¹Opens a PDF	1/03/1994	8.47	83.46	23.45	22.70	13.77	9.30	103.21	21.69	13.77
Small-Cap Blend:
BNY Mellon Opportunistic Small Cap Portfolio Opens a PDF	8/31/1990	15.04	77.67	10.00	14.76	10.56	8.70	99.54	14.57	10.36
Goldman Sachs Small Cap Equity Insights Fund	2/13/1998	18.21	67.45	12.37	14.57	11.01	7.81	84.31	13.98	10.98
PSF Small-Cap Value Portfolio ¹⁴Opens a PDF	9/22/2000	21.16	73.41	9.64	12.34	9.72	8.81	85.34	11.78	9.51
Balanced:
Janus Henderson Balanced Portfolio Opens a PDF	9/13/1993	5.64	27.25	13.62	12.78	9.58	8.89	30.85	11.88	9.47
PSF PGIM 50/50 Balanced Portfolio ¹⁴Opens a PDF	4/17/1989	4.88	22.28	10.76	9.53	8.31	6.25	27.12	8.95	8.22
PSF PGIM Flexible Managed Portfolio ¹⁴Opens a PDF	4/17/1989	8.04	27.89	11.09	10.48	9.47	6.73	34.39	9.79	9.37
Fixed Income:
AST BlackRock/Loomis Sayles Bond Portfolio ⁴Opens a PDF	1/03/1994	-2.14	3.87	4.85	3.44	2.96	5.11	5.76	3.46	3.03
PSF PGIM Total Return Bond Portfolio ¹⁴Opens a PDF	4/17/1989	-3.04	5.30	5.74	4.47	4.62	5.76	6.87	4.45	4.68
PSF PGIM High Yield Bond Portfolio ¹⁴Opens a PDF	4/17/1989	3.98	24.13	8.31	8.25	6.83	4.13	28.03	8.70	6.85
Money Market:
PSF PGIM Government Money Market Portfolio 7-Day Current Net Yield as of 4/30/2021:-0.21% ¹⁴Opens a PDF	4/17/1989	-0.08	-0.23	0.90	0.67	0.22	2.64	-0.22	0.67	0.22
Asset Allocation:
AST Balanced Asset Allocation Portfolio ²Opens a PDF	12/05/2005	5.74	28.17	10.30	9.96	7.82	6.59	33.16	9.35	7.74
AST BlackRock Global Strategies Portfolio ⁵Opens a PDF	4/29/2011	5.07	26.22	6.97	7.29	5.42	5.41	30.23	6.97	5.14
AST Preservation Asset Allocation Portfolio ³Opens a PDF	12/05/2005	2.12	16.67	7.63	6.97	5.74	5.48	19.99	6.62	5.71
AST Wellington Management Hedged Equity Portfolio ²Opens a PDF	12/05/2005	7.36	26.00	9.43	8.98	6.91	5.39	28.44	8.40	6.86
Equity :
Invesco V.I. Equity and Income Fund ¹⁵Opens a PDF	6/01/2010	12.14	41.93	10.52	10.86	8.82	10.09	No data available	No data available	No data available

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 Pruco Life’s Variable Universal Account, which was established, April 17, 1989. 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 PROSPECTUS, PRODUCT MATERIAL (product brochure or illustration).

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.

An investment in the Prudential Series Fund Government Money Market Portfolio is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Portfolio seeks to preserve the value of your investment at $10.00 per share, it is possible to lose money by investing in the Portfolio. The yield quotation more closely reflects the current earnings of the Money Market Portfolio than the total return quotation.

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.

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.

PruSelect^SM III is a variable universal life insurance product issued by Pruco Life Insurance Company (except in New Jersey and New York where it is issued by Pruco Life Insurance Company of New Jersey), and is distributed by Pruco Securities LLC. Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey are both located at 213 Washington Street, Newark, NJ 07102-2292 and Pruco Securities LLC is located at 751 Broad Street, Newark, NJ 07102-3777 (member SIPC). All are Prudential Financial companies. Each company is solely responsible for its own respective financial conditions and contractual obligations. Prudential, Prudential Investments, the Prudential logo, the Rock symbol, and Bring Your Challenges are service marks of Prudential Financial, Inc., and its related entities, registered in many jurisdictions worldwide.

PruSelect^SM III was first offered in November, 1999. The policy contract number is CVUL-1999.

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

¹Performance for this subaccount is hypothetical prior to May 1, 2008, when it was added to the separate account.
²Performance for this subaccount is hypothetical prior to November 13, 2009, when it was added to the separate account.
³Performance for this subaccount is hypothetical prior to November 20, 2009, when it was added to the separate account.
⁴Performance for this subaccount is hypothetical prior to December 4, 2009, when it was added to the separate account.
⁵Performance for this subaccount is hypothetical prior to May 1, 2011, when it was added to the separate account.
⁶Performance for this subaccount is hypothetical prior to August 22, 2011, when it was added to the separate account.
⁷Performance for this subaccount is hypothetical prior to May 1, 2012, when it was added to the separate account.
⁸Performance for this subaccount is hypothetical prior to October 7, 2013, when it was added to the separate account.
⁹Performance for this subaccount is hypothetical prior to May 1, 2015, when it was added to the separate account.
¹⁰Effective August 16, 2010, the Oppenheimer Discovery Mid-Cap Growth Fund/VA was closed to new business.
¹¹Effective November 15, 2018, the Franklin Mutual Shares VIP Fund was closed to new money/additional deposits.
¹²Effective February 22, 2021, the AST J.P. Morgan Strategic Opportunities Portfolio was renamed the AST J.P. Morgan Tactical Preservation Portfolio.
¹³Effective February 23, 2021, the Real Property Account was closed to new direct investors and additional investments from existing shareholders.
¹⁴Effective April 26, 2021, the portfolios of the Prudential Series Fund have been renamed as follows: Prior Name: Equity Portfolio, New Name: PSF PGIM Jennison Blend Portfolio; Prior Name: Jennison Portfolio, New Name: PSF PGIM Jennison Growth Portfolio; Prior Name: Jennison 20/20 Focus Portfolio, New Name: PSF PGIM Jennison Focused Blend Portfolio; Prior Name: Natural Resources Portfolio, New Name: PSF Natural Resources Portfolio; Prior Name: SP International Growth Portfolio, New Name: PSF International Growth Portfolio; Prior Name: SP Prudential US Emerging Growth Portfolio, New Name: PSF Mid-Cap Growth Portfolio; Prior Name: Value Portfolio, New Name: PSF PGIM Jennison Value Portfolio; Prior Name: Government Money Market Portfolio, New Name: PSF PGIM Government Money Market Portfolio; Prior Name: Diversified Bond Portfolio, New Name: PSF PGIM Total Return Bond Portfolio; Prior Name: Flexible Managed Portfolio, New Name: PSF PGIM Flexible Managed Portfolio; Prior Name: Conservative Balanced Portfolio, New Name: PSF PGIM 50/50 Balanced Portfolio; Prior Name: High Yield Bond Portfolio, New Name: PSF PGIM High Yield Bond Portfolio; Prior Name: Stock Index Portfolio, New Name: PSF Stock Index Portfolio; Prior Name: Global Portfolio, New Name: PSF Global Portfolio; Prior Name: Government Income Portfolio, New Name: PSF PGIM Government Income Portfolio; Prior Name: Small Capitalization Stock Portfolio, New Name: PSF Small-Cap Stock Index Portfolio; Prior Name: SP Small Cap Value Portfolio, New Name: PSF Small-Cap Value Portfolio.
¹⁵Effective April 30, 2021, Invesco V.I. Managed Volatility Fund merged into Invesco V.I. Equity and Income Fund.
¹⁶Effective April 30, 2021, Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund was renamed Invesco V.I. Discovery Mid Cap Growth Fund.
¹⁷Effective May 1, 2021, American Funds Blue Chip Income and Growth Fund was renamed American Funds Washington Mutual Investors Fund.

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1008767-00009-00 Ed.4/2021

Footnotes