Companion Life Separate Account C

04/24/2026 | Press release | Distributed by Public on 04/24/2026 04:02

Financial Statements by Insurance Company (Form N-VPFS)

Companion Life

Separate Account C

Financial Statements as of December 31, 2025, and

for each of the Periods Presented in the Years

Ended December 31, 2025 and 2024, and Report of

Independent Registered Public Accounting Firm

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of

Companion Life Insurance Company

Hauppauge, New York

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statements of net assets of each of the subaccounts of Companion Life Separate Account C (the "Account") listed in Note 2 as of December 31, 2025; the related statements of operations and changes in net assets for each of the two years in the period then ended, financial highlights for each of the five years in the period then ended for each of the subaccounts, except for the subaccounts indicated in the table below, and the related notes (collectively referred to as the "financial statements and financial highlights"). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the subaccounts listed in Note 2 constituting the Account as of December 31, 2025, and the results of their operations and the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended (or for the periods listed in the table below), in conformity with accounting principles generally accepted in the United States of America.

Individual Subaccounts Comprising the

Companion Life Separate Account C

Financial Highlights

Fidelity - VIP Growth For the period January 1, 2025 to September 29, 2025, and years ended December 31, 2024, 2023, 2022 and 2021
Pioneer - Real Estate Shares VCT For the period January 1, 2023 to April 28, 2023, and years ended December 31, 2022 and 2021
DWS - Bond For the period January 1, 2021 to October 28, 2021
DWS - Global Opportunities For the period January 1, 2024 to June 17, 2024, and years ended December 31, 2023, 2022 and 2021
DWS - Core Equity VIP For the period January 1, 2024 to June 17, 2024, and years ended December 31, 2023, 2022 and 2021
DWS - Money Market For the period October 28, 2021 to December 31, 2021, and years ended December 31, 2025, 2024, 2023 and 2022
Morgan Stanley - VIF Core Plus Fixed Income For the period January 1, 2023 to July 28, 2023, and years ended December 31, 2022 and 2021

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Account's management. Our responsibility is to express an opinion on the Account's financial statements and financial highlights 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 Account 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 and financial highlights are free of material misstatement, whether due to error or fraud. The Account is not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Account's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, 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 and financial highlights. 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 and financial highlights. Our procedures included confirmation of investments owned as of December 31, 2025, by correspondence with the custodians. We believe that our audits provide a reasonable basis for our opinion.

Omaha, Nebraska

April 1, 2026

We have served as the auditor of the Account since 1996.

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENT OF NET ASSETS

DECEMBER 31, 2025

Fair Value
NET ASSETS Cost Contracts in
Accumulation
(Deferred)
Period 		Contracts in
Payout
(Annuitization)
Period 		Net Assets Shares

Investments:

Alger:

American Growth

123,900 180,057 19,573 199,630 1,935

American Small Capitalization

86,227 62,109 5,494 67,603 3,627

Federated:

Government Money Fund II

136,481 123,877 12,604 136,481 136,481

Fund for U.S. Government Securities II

77,076 68,057 -  68,057 7,310

Fidelity:

VIP Asset Manager: Growth

88,938 132,050 -  132,050 5,104

VIP Contrafund

141,473 213,554 -  213,554 3,566

VIP Equity Income

130,180 164,705 -  164,705 5,597

VIP Index 500

34,156 106,516 -  106,516 161

MFS:

Core Equity Portfolio

76,598 95,755 -  95,755 3,008

Emerging Growth Series

120,467 161,837 -  161,837 2,385

High Yield Series

21,985 19,739 -  19,739 3,878

Research Series

64,583 73,954 -  73,954 2,426

Income Series II

46,577 42,199 -  42,199 4,941

Pioneer:

Equity Income VCT

13,284 9,951 -  9,951 804

Fund VCT

2,601 377 2,784 3,161 159

Mid Cap Value VCT

92,560 82,617 -  82,617 7,253

DWS

International

30,521 39,547 -  39,547 3,795

Money Market

7,272 7,272 -  7,272 7,272

Small Cap Index VIP

6,685 7,468 -  7,468 497

T. Rowe Price:

Equity Income

410,247 478,544 -  478,544 16,553

International Stock

135,008 146,661 -  146,661 9,224

Limited-Term Bond

32,425 28,916 2,573 31,489 6,629

New America Growth

155,844 199,362 -  199,362 5,027

Moderate Allocation

162,578 189,075 -  189,075 8,430

Morgan Stanley:

VIF Emerging Markets Equity

21,573 28,428 -  28,428 1,618

See notes to these financial statements.

- 3 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

Alger Federated
American Growth American
Small Capitalization 		Government Money Fund
II
2025 2024 2025 2024 2025 2024

Income:

Dividends

$ - $ -  $ - $ 248 $ 4,911 $ 5,629

Expenses:

Mortality & expense risk

(1,774 ) (1,438 ) (632 ) (654 ) (1,346 ) (1,252 )

Administrative charges

(353 ) (286 ) (126 ) (130 ) (268 ) (249 )

Net investment income (expense)

(2,127 ) (1,724 ) (758 ) (536 ) 3,297 4,128

Realized gains (losses) on investments:

Net realized gains (losses) on sale of fund shares

3,771 2,856 (1,293 ) (1,285 ) -  - 

Net realized gain distributions

21,485 -  783 -  -  - 

Net realized gains (losses)

25,256 2,856 (510 ) (1,285 ) -  - 

Change in unrealized appreciation (depreciation) during the year

22,386 47,530 4,569 6,145 -  - 

Increase (decrease) in net assets from operations

45,515 48,662 3,301 4,324 3,297 4,128

Contract Transactions:

Payments received from contract owners

-  -  -  -  240 240

Transfers between subaccounts (including fixed account), net

(2,762 ) (3,277 ) 1,089 (542 ) 3,576 27,341

Transfers for contract benefits and terminations

(3,172 ) (7,521 ) (1,670 ) (1,418 ) (4,636 ) (10,894 )

Contract maintenance charges

(65 ) (60 ) (11 ) (12 ) (96 ) (91 )

Adjustments to net assets allocated to contracts in payout year

-  -  -  -  -  - 

Net increase (decrease) in net assets from contract transactions

(5,999 ) (10,858 ) (592 ) (1,972 ) (916 ) 16,596

Total increase (decrease) in net assets

39,516 37,804 2,709 2,352 2,381 20,724

Net assets at beginning of year

160,114 122,310 64,894 62,542 134,100 113,376

Net assets at end of year

$ 199,630 $ 160,114 $ 67,603 $ 64,894 $ 136,481 $ 134,100

Accumulation units:

Purchases

9 2 51 15 3,780 21,447

Withdrawals

(48 ) (100 ) (56 ) (53 ) (4,498 ) (8,531 )

Net increase (decrease) in units outstanding

(39 ) (98 ) (5 ) (38 ) (718 ) 12,916

Units outstanding at beginning of year

1,253 1,351 1,260 1,298 102,754 89,838

Units outstanding at end of year

1,214 1,253 1,255 1,260 102,036 102,754

See notes to these financial statements.

- 4 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

Federated (continued) Fidelity
Fund for U.S. Government VIP Asset Manager:
Securities II Growth VIP Contrafund
2025 2024 2025 2024 2025 2024

Income:

Dividends

$ 2,519 $ 2,473 $ 2,287 $ 2,141 $ 281 $ 429

Expenses:

Mortality & expense risk

(660 ) (674 ) (1,274 ) (1,270 ) (2,017 ) (2,587 )

Administrative charges

(131 ) (134 ) (254 ) (253 ) (402 ) (515 )

Net investment income (expense)

1,728 1,665 759 618 (2,138 ) (2,673 )

Realized gains (losses) on investments:

Net realized gains (losses) on sale of fund shares

(403 ) (2,238 ) 3,408 4,428 7,367 47,726

Net realized gain distributions

-  -  4,209 1,505 32,177 26,590

Net realized gains (losses)

(403 ) (2,238 ) 7,617 5,933 39,544 74,316

Change in unrealized appreciation (depreciation) during the year

2,212 88 11,606 4,806 17 1,036

Increase (decrease) in net assets from operations

3,537 (485 ) 19,982 11,357 37,423 72,679

Contract Transactions:

Payments received from contract owners

-  -  -  -  -  - 

Transfers between subaccounts (including fixed account), net

1,689 3,322 (612 ) 610 (272 ) (445 )

Transfers for contract benefits and terminations

(935 ) (10,598 ) (8,962 ) (16,313 ) (15,282 ) (104,556 )

Contract maintenance charges

(31 ) (33 ) (15 ) (24 ) (25 ) (44 )

Adjustments to net assets allocated to contracts in payout year

-  -  -  -  -  - 

Net increase (decrease) in net assets from contract transactions

723 (7,309 ) (9,589 ) (15,727 ) (15,579 ) (105,045 )

Total increase (decrease) in net assets

4,260 (7,794 ) 10,393 (4,370 ) 21,844 (32,366 )

Net assets at beginning of year

63,797 71,591 121,657 126,027 191,710 224,076

Net assets at end of year

$ 68,057 $ 63,797 $ 132,050 $ 121,657 $ 213,554 $ 191,710

Accumulation units:

Purchases

132 211 2 14 -  - 

Withdrawals

(95 ) (600 ) (166 ) (323 ) (74 ) (561 )

Net increase (decrease) in units outstanding

37 (389 ) (164 ) (309 ) (74 ) (561 )

Units outstanding at beginning of year

3,385 3,774 2,310 2,619 1,029 1,590

Units outstanding at end of year

3,422 3,385 2,146 2,310 955 1,029

See notes to these financial statements.

- 5 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

Fidelity (continued)
VIP Equity Income VIP Growth VIP Index 500
2025 2024 2025 2024 2025 2024

Income:

Dividends

$ 2,798 $ 2,974 $ -  $ -  $ 1,145 $ 1,176

Expenses:

Mortality & expense risk

(1,557 ) (1,864 ) (17 ) (21 ) (1,003 ) (951 )

Administrative charges

(310 ) (371 ) (2 ) (3 ) (200 ) (189 )

Net investment income (expense)

931 739 (19 ) (24 ) (58 ) 36

Realized gains (losses) on investments:

Net realized gains (losses) on sale of fund shares

2,534 10,275 663 10 4,426 8,021

Net realized gain distributions

8,649 9,811 20 367 514 55

Net realized gains (losses)

11,183 20,086 683 377 4,940 8,076

Change in unrealized appreciation (depreciation) during the year

13,158 4,558 (449 ) 30 10,561 11,515

Increase (decrease) in net assets from operations

25,272 25,383 215 383 15,443 19,627

Contract Transactions:

Payments received from contract owners

-  -  -  -  180 180

Transfers between subaccounts (including fixed account), net

(146 ) (443 ) 4 11 (3,846 ) (5,845 )

Transfers for contract benefits and terminations

(11,297 ) (49,683 ) (1,954 ) -  (1,415 ) (5,846 )

Contract maintenance charges

(59 ) (55 ) (32 ) (19 ) (57 ) (63 )

Adjustments to net assets allocated to contracts in payout year

-  -  -  -  -  - 

Net increase (decrease) in net assets from contract transactions

(11,502 ) (50,181 ) (1,982 ) (8 ) (5,138 ) (11,574 )

Total increase (decrease) in net assets

13,770 (24,798 ) (1,767 ) 375 10,305 8,053

Net assets at beginning of year

150,935 175,733 1,767 1,392 96,211 88,158

Net assets at end of year

$ 164,705 $ 150,935 $ - $ 1,767 $ 106,516 $ 96,211

Accumulation units:

Purchases

1 1 -  -  4 4

Withdrawals

(140 ) (631 ) (10 ) -  (60 ) (152 )

Net increase (decrease) in units outstanding

(139 ) (630 ) (10 ) -  (56 ) (148 )

Units outstanding at beginning of year

1,928 2,558 10 10 1,138 1,286

Units outstanding at end of year

1,789 1,928 -  10 1,082 1,138

See notes to these financial statements.

- 6 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

MFS
Core Equity Portfolio Emerging Growth Series High Yield Series
2025 2024 2025 2024 2025 2024

Income:

Dividends

$ 419 $ 500 $ -  $ -  $ 1,448 $ 1,288

Expenses:

Mortality & expense risk

(908 ) (871 ) (1,548 ) (1,408 ) (209 ) (224 )

Administrative charges

(181 ) (174 ) (308 ) (280 ) (42 ) (45 )

Net investment income (expense)

(670 ) (545 ) (1,856 ) (1,688 ) 1,197 1,019

Realized gains (losses) on investments:

Net realized gains (losses) on sale of fund shares

636 2,194 2,390 2,176 (432 ) (469 )

Net realized gain distributions

9,337 3,637 27,889 10,710 -  - 

Net realized gains (losses)

9,973 5,831 30,279 12,886 (432 ) (469 )

Change in unrealized appreciation (depreciation) during the year

445 9,379 (12,165 ) 23,883 728 632

Increase (decrease) in net assets from operations

9,748 14,665 16,258 35,081 1,493 1,182

Contract Transactions:

Payments received from contract owners

180 180 -  -  -  - 

Transfers between subaccounts (including fixed account), net

(464 ) (4,153 ) 145 (2,345 ) 71 26

Transfers for contract benefits and terminations

(777 ) (5,698 ) (4,146 ) (1,916 ) (3,066 ) (3,248 )

Contract maintenance charges

(43 ) (48 ) (25 ) (25 ) (4 ) (4 )

Adjustments to net assets allocated to contracts in payout year

-  -  -  -  -  - 

Net increase (decrease) in net assets from contract transactions

(1,104 ) (9,719 ) (4,026 ) (4,286 ) (2,999 ) (3,226 )

Total increase (decrease) in net assets

8,644 4,946 12,232 30,795 (1,506 ) (2,044 )

Net assets at beginning of year

87,111 82,165 149,605 118,810 21,245 23,289

Net assets at end of year

$ 95,755 $ 87,111 $ 161,837 $ 149,605 $ 19,739 $ 21,245

Accumulation units:

Purchases

12 6 9 2 2 1

Withdrawals

(24 ) (129 ) (34 ) (34 ) (86 ) (100 )

Net increase (decrease) in units outstanding

(12 ) (123 ) (25 ) (32 ) (84 ) (99 )

Units outstanding at beginning of year

1,036 1,159 1,022 1,054 626 725

Units outstanding at end of year

1,024 1,036 997 1,022 542 626

See notes to these financial statements.

- 7 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

MFS (continued) Pioneer
Research Series Income Series II Equity Income VCT
2025 2024 2025 2024 2025 2024

Income:

Dividends

$ 710 $ 418 $ 1,745 $ 1,559 $ 188 $ 171

Expenses:

Mortality & expense risk

(726 ) (732 ) (413 ) (418 ) (94 ) (89 )

Administrative charges

(145 ) (146 ) (82 ) (83 ) (19 ) (18 )

Net investment income (expense)

(161 ) (460 ) 1,250 1,058 75 64

Realized gains (losses) on investments:

Net realized gains (losses) on sale of fund shares

1,265 3,349 (281 ) (852 ) (41 ) (31 )

Net realized gain distributions

17,397 4,024 -  -  1,352 1,591

Net realized gains (losses)

18,662 7,373 (281 ) (852 ) 1,311 1,560

Change in unrealized appreciation (depreciation) during the year

(10,394 ) 4,744 1,437 586 (498 ) (827 )

Increase (decrease) in net assets from operations

8,107 11,657 2,406 792 888 797

Contract Transactions:

Payments received from contract owners

-  -  -  -  -  - 

Transfers between subaccounts (including fixed account), net

245 (905 ) 1,226 1,503 -  - 

Transfers for contract benefits and terminations

(6,195 ) (10,077 ) (1,567 ) (5,367 ) -  - 

Contract maintenance charges

(21 ) (22 ) (24 ) (30 ) (6 ) (6 )

Adjustments to net assets allocated to contracts in payout year

-  -  -  -  -  - 

Net increase (decrease) in net assets from contract transactions

(5,971 ) (11,004 ) (365 ) (3,894 ) (6 ) (6 )

Total increase (decrease) in net assets

2,136 653 2,041 (3,102 ) 882 791

Net assets at beginning of year

71,818 71,165 40,158 43,260 9,069 8,278

Net assets at end of year

$ 73,954 $ 71,818 $ 42,199 $ 40,158 $ 9,951 $ 9,069

Accumulation units:

Purchases

5 1 67 76 -  - 

Withdrawals

(63 ) (125 ) (82 ) (243 ) -  - 

Net increase (decrease) in units outstanding

(58 ) (124 ) (15 ) (167 ) -  - 

Units outstanding at beginning of year

754 878 1,691 1,858 214 214

Units outstanding at end of year

696 754 1,676 1,691 214 214

See notes to these financial statements.

- 8 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

Pioneer (continued) DWS
Fund VCT Mid Cap Value VCT Global Opportunities
2025 2024 2025 2024 2025 2024

Income:

Dividends

$ 6 $ 12 $ 1,612 $ 1,436 $ -  $ 34

Expenses:

Mortality & expense risk

(29 ) (29 ) (771 ) (750 ) -  (14 )

Administrative charges

(6 ) (6 ) (153 ) (149 ) -  (3 )

Net investment income (expense)

(29 ) (23 ) 688 537 -  17

Realized gains (losses) on investments:

Net realized gains (losses) on sale of fund shares

38 30 (474 ) (1,594 ) -  (562 )

Net realized gain distributions

388 136 6,257 4,409 -  134

Net realized gains (losses)

426 166 5,783 2,815 -  (428 )

Change in unrealized appreciation (depreciation) during the year

182 380 1,082 3,447 -  385

Increase (decrease) in net assets from operations

579 523 7,553 6,799 -  (26 )

Contract Transactions:

Payments received from contract owners

-  -  180 180 -  - 

Transfers between subaccounts (including fixed account), net

-  -  2,974 (1,626 ) -  (2,987 )

Transfers for contract benefits and terminations

(260 ) (239 ) (1,294 ) (5,462 ) -  (46 )

Contract maintenance charges

(12 ) (12 ) (43 ) (49 ) -  - 

Adjustments to net assets allocated to contracts in payout year

-  -  -  -  -  - 

Net increase (decrease) in net assets from contract transactions

(272 ) (251 ) 1,817 (6,957 ) -  (3,033 )

Total increase (decrease) in net assets

307 272 9,370 (158 ) -  (3,059 )

Net assets at beginning of year

2,854 2,582 73,247 73,405 -  3,059

Net assets at end of year

$ 3,161 $ 2,854 $ 82,617 $ 73,247 $ -  $ - 

Accumulation units:

Purchases

-  -  56 15 -  1

Withdrawals

(5 ) (6 ) (28 ) (117 ) -  (63 )

Net increase (decrease) in units outstanding

(5 ) (6 ) 28 (102 ) -  (62 )

Units outstanding at beginning of year

61 67 1,045 1,147 -  62

Units outstanding at end of year

56 61 1,073 1,045 -  - 

See notes to these financial statements.

- 9 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

DWS (continued)
Core Equity VIP International Money Market
2025 2024 2025 2024 2025 2024

Income:

Dividends

$ $ 74 $ 981 $ 1,203 $ 280 $ 336

Expenses:

Mortality & expense risk

-  (64 ) (361 ) (347 ) (90 ) (88 )

Administrative charges

-  (12 ) (72 ) (69 ) (11 ) (11 )

Net investment income (expense)

-  (2 ) 548 787 179 237

Realized gains (losses) on investments:

Net realized gains (losses) on sale of fund shares

-  3,266 608 (682 ) -  - 

Net realized gain distributions

-  727 -  -  -  - 

Net realized gains (losses)

-  3,993 608 (682 ) -  - 

Change in unrealized appreciation (depreciation) during the year

-  (2,232 ) 11,760 269 -  - 

Increase (decrease) in net assets from operations

-  1,759 12,916 374 179 237

Contract Transactions:

Payments received from contract owners

-  -  -  -  -  - 

Transfers between subaccounts (including fixed account), net

- 

(14,282

)

(2,770

)

1,049

- 

- 

Transfers for contract benefits and terminations

-  (1,222 ) (2,484 ) (6,535 ) -  - 

Contract maintenance charges

-  (2 ) (6 ) (8 ) (5 ) (5 )

Adjustments to net assets allocated to contracts in payout year

-  -  -  -  -  - 

Net increase (decrease) in net assets from contract transactions

-  (15,506 ) (5,260 ) (5,494 ) (5 ) (5 )

Total increase (decrease) in net assets

-  (13,747 ) 7,656 (5,120 ) 174 232

Net assets at beginning of year

-  13,747 31,891 37,011 7,098 6,866

Net assets at end of year

$ -  $ -  $ 39,547 $ 31,891 $ 7,272 $ 7,098

Accumulation units:

Purchases

-  -  2 45 -  - 

Withdrawals

-  (282 ) (208 ) (315 ) (4 ) (4 )

Net increase (decrease) in units outstanding

-  (282 ) (206 ) (270 ) (4 ) (4 )

Units outstanding at beginning of year

-  282 1,543 1,813 5,392 5,396

Units outstanding at end of year

-  -  1,337 1,543 5,388 5,392

See notes to these financial statements.

- 10 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

DWS (continued) T. Rowe Price
Small Cap Index VIP Equity Income International Stock
2025 2024 2025 2024 2025 2024

Income:

Dividends

$ 91 $ 74 $ 7,542 $ 8,179 $ 2,745 $ 1,259

Expenses:

Mortality & expense risk

(68 ) (65 ) (4,595 ) (4,554 ) (1,405 ) (1,518 )

Administrative charges

(14 ) (13 ) (914 ) (905 ) (280 ) (302 )

Net investment income (expense)

9 (4 ) 2,033 2,720 1,060 (561 )

Realized gains (losses) on investments:

Net realized gains (losses) on sale of fund shares

2 3 6,185 6,646 1,150 2,387

Net realized gain distributions

390 174 45,536 28,975 12,059 3,259

Net realized gains (losses)

392 177 51,721 35,621 13,209 5,646

Change in unrealized appreciation (depreciation) during the year

356 427 2,748 5,307 7,486 (1,631 )

Increase (decrease) in net assets from operations

757 600 56,502 43,648 21,755 3,454

Contract Transactions:

Payments received from contract owners

-  -  180 180 180 180

Transfers between subaccounts (including fixed account), net

-  -  2,779 (2,571 ) (1,721 ) 4,246

Transfers for contract benefits and terminations

-  -  (26,467 ) (25,416 ) (3,179 ) (25,832 )

Contract maintenance charges

-  -  (78 ) (70 ) (56 ) (57 )

Adjustments to net assets allocated to contracts in payout year

-  -  -  -  -  - 

Net increase (decrease) in net assets from contract transactions

-  -  (23,586 ) (27,877 ) (4,776 ) (21,463 )

Total increase (decrease) in net assets

757 600 32,916 15,771 16,979 (18,009 )

Net assets at beginning of year

6,711 6,111 445,628 429,857 129,682 147,691

Net assets at end of year

$ 7,468 $ 6,711 $ 478,544 $ 445,628 $ 146,661 $ 129,682

Accumulation units:

Purchases

-  -  39 6 82 152

Withdrawals

-  -  (293 ) (337 ) (234 ) (888 )

Net increase (decrease) in units outstanding

-  -  (254 ) (331 ) (152 ) (736 )

Units outstanding at beginning of year

163 163 5,137 5,468 4,550 5,286

Units outstanding at end of year

163 163 4,883 5,137 4,398 4,550

See notes to these financial statements.

- 11 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

T. Rowe Price (continued)
Limited-Term Bond New America Growth Moderate Allocation
2025 2024 2025 2024 2025 2024

Income:

Dividends

$ 1,314 $ 1,468 $ - $ 129 $ 4,135 $ 4,196

Expenses:

Mortality & expense risk

(308 ) (355 ) (1,997 ) (1,890 ) (1,835 ) (1,882 )

Administrative charges

(61 ) (70 ) (361 ) (344 ) (365 ) (375 )

Net investment income (expense)

945 1,043 (2,358 ) (2,105 ) 1,935 1,939

Realized gains (losses) on investments:

Net realized gains (losses) on sale of fund shares

(58 ) (819 ) 3,778 5,558 2,266 2,731

Net realized gain distributions

-  -  21,858 19,951 8,070 4,931

Net realized gains (losses)

(58 ) (819 ) 25,636 25,509 10,336 7,662

Change in unrealized appreciation (depreciation) during the year

447 989 3,517 13,884 10,452 6,058

Increase (decrease) in net assets from operations

1,334 1,213 26,795 37,288 22,723 15,659

Contract Transactions:

Payments received from contract owners

-  -  -  -  -  - 

Transfers between subaccounts (including fixed account), net

749 1,545 (177 ) (1,485 ) 366 625

Transfers for contract benefits and terminations

(737 ) (14,140 ) (10,003 ) (16,174 ) (13,680 ) (24,714 )

Contract maintenance charges

(7 ) (50 ) (41 ) (40 ) (50 ) (50 )

Adjustments to net assets allocated to contracts in payout year

-  -  -  -  -  - 

Net increase (decrease) in net assets from contract transactions

5 (12,645 ) (10,221 ) (17,699 ) (13,364 ) (24,139 )

Total increase (decrease) in net assets

1,339 (11,432 ) 16,574 19,589 9,359 (8,480 )

Net assets at beginning of year

30,150 41,582 182,788 163,199 179,716 188,196

Net assets at end of year

$ 31,489 $ 30,150 $ 199,362 $ 182,788 $ 189,075 $ 179,716

Accumulation units:

Purchases

68 87 4 1 12 13

Withdrawals

(68 ) (798 ) (61 ) (118 ) (211 ) (407 )

Net increase (decrease) in units outstanding

-  (711 ) (57 ) (117 ) (199 ) (394 )

Units outstanding at beginning of year

1,653 2,364 1,120 1,237 2,841 3,235

Units outstanding at end of year

1,653 1,653 1,063 1,120 2,642 2,841

See notes to these financial statements.

- 12 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

Morgan Stanley
VIF Emerging Markets
Equity
2025 2024

Income:

Dividends

$ 104 $ 314

Expenses:

Mortality & expense risk

(260 ) (236 )

Administrative charges

(52 ) (47 )

Net investment income (expense)

(208 ) 31

Realized gains (losses) on investments:

Net realized gains (losses) on sale of fund shares

449 54

Net realized gain distributions

869 - 

Net realized gains (losses)

1,318 54

Change in unrealized appreciation (depreciation) during the year

6,042 1,342

Increase (decrease) in net assets from operations

7,152 1,427

Contract Transactions:

Payments received from contract owners

60 60

Transfers between subaccounts (including fixed account), net

(2,133 ) 484

Transfers for contract benefits and terminations

(263 ) (225 )

Contract maintenance charges

(17 ) (17 )

Adjustments to net assets allocated to contracts in payout year

-  - 

Net increase (decrease) in net assets from contract transactions

(2,353 ) 302

Total increase (decrease) in net assets

4,799 1,729

Net assets at beginning of year

23,629 21,900

Net assets at end of year

$ 28,428 $ 23,629

Accumulation units:

Purchases

6 36

Withdrawals

(80 ) (25 )

Net increase (decrease) in units outstanding

(74 ) 11

Units outstanding at beginning of year

871 860

Units outstanding at end of year

797 871

See notes to these financial statements.

- 13 -

COMPANION LIFE SEPARATE ACCOUNT C

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

1.

NATURE OF OPERATIONS

Companion Life Separate Account C (the "Separate Account") was established by Companion Life Insurance Company ("Companion") on February 18, 1994, under the laws of the State of New York, and is registered as a unit investment trust under the Investment Company Act of 1940, as amended. The Separate Account is a funding vehicle for individual variable annuity contracts. The assets of the Separate Account are owned by Companion, however, the net assets of the Separate Account are clearly identified and distinguished from Companion's other assets and liabilities. The portion of the Separate Account's assets applicable to the variable annuity contracts is not chargeable with liabilities arising out of any other business Companion may conduct.

A contract owner of the Separate Account may allocate funds to the fixed income account, which is part of Companion's general account, in addition to the subaccounts detailed below. Interests in the fixed income account have not been registered under the Securities Act of 1933 and Companion has not been registered as an investment company under the Investment Company Act of 1940, due to exemptive and exclusionary provisions under such acts.

2.

SUBACCOUNTS

The Separate Account is divided into subaccounts for which accumulation units are separately maintained. Each subaccount invests exclusively in shares of a corresponding mutual fund portfolio. The available subaccounts with activity during 2025 or 2024 are:

Alger

Alger American Fund

Alger American Large Cap Growth Portfolio Class O ("American Growth")

Alger American Small Cap Growth Portfolio Class O ("American Small Capitalization")

Federated

Federated Insurance Series

Federated Hermes Government Money Market Fund II Portfolio ("Government Money Fund II")

Federated Hermes Fund for U.S. Government Securities II ("Fund for U.S. Government Securities II")

Fidelity

Fidelity Variable Insurance Products Fund

Fidelity VIP Equity-Income Portfolio Initial Class ("VIP Equity Income")

Fidelity VIP Growth Portfolio Initial Class ("VIP Growth")

Fidelity Variable Insurance Products

Fidelity VIP Asset Manager: Growth Portfolio Initial Class ("VIP Asset Manager: Growth")

Fidelity VIP Contrafund Portfolio Service Class ("VIP Contrafund")

Fidelity VIP Index 500 Portfolio Initial Class ("VIP Index 500")

MFS

MFS Variable Insurance Trust

MFS Core Equity Portfolio ("Core Equity Portfolio")

MFS Growth Series Portfolio Initial Class ("Emerging Growth Series")

MFS VIT II High Yield Initial Class ("High Yield Series")

MFS Research Series Portfolio Initial Class ("Research Series")

MFS VIT II Income Initial Class ("Income Series II")

Pioneer

Pioneer Variable Contracts Trust

Pioneer Equity Income VCT Portfolio Class II ("Equity Income VCT")

Pioneer Fund VCT Portfolio Class II ("Fund VCT")

Pioneer Mid Cap Value VCT Portfolio Class I ("Mid Cap Value VCT")

DWS

DWS Variable Series I

DWS Global Opportunities VIP Class B ("Global Opportunities")

DWS Core Equity VIP Class B ("Core Equity VIP")

DWS CROCI International VIP Class A ("International")

DWS Government Money Market VIP ("Money Market")

DWS Investments VIT Funds

DWS Small Cap Index VIP Class A ("Small Cap Index VIP")

T. Rowe Price

T. Rowe Price Equity Series, Inc.

T. Rowe Price Equity Income Portfolio ("Equity Income")

T. Rowe Price New America Growth Portfolio ("New America Growth")

T. Rowe Price Moderate Allocation Portfolio ("Moderate Allocation")

T. Rowe Price International Series, Inc.

T. Rowe Price International Stock Portfolio ("International Stock")

T. Rowe Price Fixed Income Series, Inc.

T. Rowe Price Limited-Term Bond Portfolio ("Limited-Term Bond")

Morgan Stanley

Morgan Stanley Variable Insurance Funds

Morgan Stanley VIF Emerging Markets Equity Portfolio Class I ("VIF Emerging Markets Equity")

The availability of some subaccounts is dependent upon the product under which each contract was written.

Effective June 17, 2024, "DWS Core Equity VIP - Class B" ("Core Equity VIP") was no longer available for investment. Assets were transferred to Federated Hermes Government Money Fund II ("Government Money Fund II")

Effective June 17, 2024, "DWS Global Opportunities VIP - Class B" ("Global Opportunities") was no longer available for investment. Assets were transferred to Government Money Fund II.

- 14 -

3.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and disclosures of assets at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting year. Actual results could differ from those estimates. The most significant estimates and assumptions include those used in investment valuation in absence of quoted market prices.

Security Valuation and Related Investment Income - Investments are made in the portfolios of the Separate Account and are valued at the reported net asset values of such portfolios, which value their investment securities at fair value. Transactions are recorded on a trade date basis. Income from dividends and gains from realized gain distributions are recorded on the ex-distribution date. Realized gains and losses on the sales of investments are determined based on the average cost of investments sold.

The investments of the Separate Account and Companion Life Separate Account B are jointly held in accounts with the investment managers.

Contracts in Payout (Annuitization) period - Net assets allocated to contracts in the payout period are computed according to the 1983 Individual Annuitant Mortality Table. The assumed investment return is 4.0%. The mortality risk is fully borne by Companion and may result in additional amounts being transferred into the subaccounts of the Separate Account by Companion to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed amounts required, transfers may be made to Companion. These items are included in the adjustment to net assets allocated to contracts in payout year.

Federal Income Taxes - Companion is taxed as a life insurance company and includes in its results the taxable income or loss of the Separate Account subaccounts excluding those items which are specifically attributed to the contracts. No charge for federal income tax is being made to the Separate Account subaccounts. In the event of changes in the tax laws, charges may be made in the future.

As of December 31, 2025, there were no uncertain tax positions which management believes will materially change within the next twelve months.

Fair Value Measurements - Current fair value guidance requires financial instruments measured at fair value to be categorized into a three-level classification. The lowest level input that is significant to the fair value measurement of a financial instrument is used to categorize the instrument and reflects the judgment of management. The valuation criteria is summarized as follows:

Level 1 -

Inputs are unadjusted and represent quoted prices in active markets for identical assets at the measurement date.

Level 2 -

Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset through correlation with market data at the measurement date.

Level 3 -

Inputs reflect management's best estimate of what market participants would use in pricing the asset at the measurement date. Financial assets presented at fair value and categorized as Level 3 are generally those that are valued using unobservable inputs.

Each subaccount invests in shares of mutual funds, which calculate a daily net asset value based on the value of the underlying securities in the portfolio. As such, the investments held in the Separate Account were valued using Level 2 inputs as defined by the applicable fair value guidance.

Payments Received from Contract Owners - In the Statement of Operations and Changes in Net Assets, the line item "Payments received from contract owners" includes both deposits received from policyholders and the net gains and losses resulting from the timing of executed trades.

Segment Reporting - Each fund of the Separate Account constitutes a single operating segment and therefore, a single reportable segment because the chief operating decision maker ("CODM") manages the activities of the Separate Account using information of each fund. The Separate Account is engaged in a single line of business as a registered unit investment trust. The Separate Account is a funding vehicle for individual variable annuity contracts with the assets owned by Companion to support the liabilities of the applicable insurance contracts. The subaccounts have identified the Chief Financial Officer of the sponsoring company as the CODM as the Separate Account does not have employees and is not a separate legal entity.

The CODM uses increase (decrease) in net assets from operations as their performance measure in order to make operational decisions while monitoring the net assets of each of the funds within the Separate Account. The Accounting policies used to measure profit and loss of the segments are the same as those described in the summary of significant accounting policies (included in this note). The measure of segment assets is reported on the statement of net assets as net assets. Refer to the Statements of Operations and Changes in Net Assets for each fund's operating segment and related footnotes for significant principle expenses and the existing segment requirements as of December 31, 2024 and for the year ended December 31, 2025 and December 31, 2024. All assets and revenue is generated in the US and there is no customer greater than 10% of consolidated results for all periods presented.

Subsequent Events - Subsequent events have been evaluated through April 1, 2026, the date these financial statements were issued.

4.

ACCOUNT CHARGES

Mortality 

& Expense Risk Charges:

Companion deducts a daily charge as compensation for the mortality and expense risks assumed by Companion. The annual rate is a percentage of the net asset value of each subaccount based on the following products:

Series I  1.25%

Series V  1.00%

These charges are assessed through reduction of unit values. Companion guarantees that the mortality and expense charge will not increase above these levels.

Administrative 

Charges:

Companion deducts a daily administrative expense charge from the net assets of the subaccounts of the Separate Account. The annual rate is a percentage of the net asset value of each subaccount based on the following products:

Series I  0.15%

Series V  0.20%

These charges are assessed through reduction of unit values. Companion guarantees that the daily administrative expense charge will not increase.

Contract 

Maintenance Charges:

Withdrawal Charge - Companion may deduct a withdrawal charge, expressed as a percentage of accumulation value surrendered or withdrawn. The withdrawal charge percentage varies depending upon the number of years elapsed since the date the purchase payment was made. The amount of the withdrawal requested plus the withdrawal charge is deducted from the accumulation value on the date the request is received as a redemption of units. Withdrawal charges are applied as a percentage of the requested withdrawal and range from 0% - 7%.

Transfer Fees - A transfer fee of $10 may be imposed for any non-systematic transfer in excess of twelve per contract year. The transfer fee is deducted from the amount transferred on the transfer date as a redemption of units.

Contract Fee - There is an annual contract fee of $30 that is deducted from the accumulated value on the last valuation date of each contract year or at complete surrender. The annual contract fee is waived if the accumulated value is greater than $50,000 on the last valuation date of the applicable contract year. This charge is assessed through the redemption of units. Companion guarantees that the annual contract fee will not increase.

- 15 -

5.

PURCHASES AND SALES OF INVESTMENTS

The aggregate cost of net daily purchases and proceeds from net daily sales of investments for the year ended December 31, 2025 were as follows:

Purchases Sales

Alger

American Growth

$ 975 $ 9,100

American Small Capitalization

2,243 3,593

Federated

Government Money Fund II

4,801 7,331

Fund for U.S. Government Securities II

2,555 2,623

Fidelity

VIP Asset Manager: Growth

135 11,252

VIP Contrafund

-  17,998

VIP Equity Income

91 13,460

VIP Growth

-  2,001

VIP Index 500

306 6,647

MFS

Core Equity Portfolio

956 3,147

Emerging Growth Series

1,217 7,101

High Yield Series

67 3,317

Research Series

515 7,357

Income Series II

1,627 2,487

Pioneer

Equity Income VCT

-  119

Fund VCT

-  307

Mid Cap Value VCT

3,695 2,802

DWS

International

41 5,734

Money Market

1 107

Small Cap Index VIP

-  82

T. Rowe Price

Equity Income

2,955 32,050

International Stock

2,457 8,918

Limited-Term Bond

1,260 1,624

New America Growth

510 13,089

Moderate Allocation

790 16,354

Morgan Stanley

VIF Emerging Markets Equity

174 2,839
6.

ADMINISTRATION OF THE SEPARATE ACCOUNT

Companion has an administrative services agreement with Security Benefit Life Insurance Company ("Security Benefit"), whose affiliate Zinnia Corporate Holdings, LLC ("Zinnia") performs administrative functions on behalf of Companion with respect to the contracts comprising the Separate Account.

7.

REINSURANCE ARRANGEMENTS

Companion has a reinsurance agreement to cede to Security Benefit, on a modified coinsurance basis, certain Companion rights, liabilities and obligations in the Separate Account. The ceding of this business does not discharge Companion from its primary legal liability to a contract owner.

- 16 -

8.

FINANCIAL HIGHLIGHTS

A summary of units, unit values, and net assets at December 31 and investment income ratio, expense ratio and total return for the years ended December 31 follows:

At December 31 For the years ended December 31****
Units Unit Value
lowest to highest 		Net
Assets 		Investment
Income
Ratio* 		Expense Ratio
lowest to
highest** 		Total Return
lowest to highest***

Alger

American Growth - 2025

1,214 164.44 to 164.44 199,630 0.00 % 1.20% to 1.20 % 28.71% to 28.71 %

American Growth - 2024

1,253 127.76 to 127.76 160,114 0.00 % 1.20% to 1.20 % 41.16% to 41.16 %

American Growth - 2023

1,351 90.51 to 90.51 122,310 0.00 % 1.20% to 1.20 % 31.10% to 31.10 %

American Growth - 2022

1,442 69.04 to 69.04 99,552 0.00 % 1.20% to 1.20 % -39.39% to -39.39 %

American Growth - 2021

1,542 113.91 to 113.91 175,610 0.00 % 1.20% to 1.20 % 10.50% to 10.50 %

American Small Capitalization - 2025

1,255 53.88 to 53.88 67,603 0.00 % 1.20% to 1.20 % 4.65% to 4.65 %

American Small Capitalization - 2024

1,260 51.49 to 51.49 64,894 0.39 % 1.20% to 1.20 % 6.83% to 6.83 %

American Small Capitalization - 2023

1,298 48.20 to 48.20 62,542 0.00 % 1.20% to 1.20 % 15.09% to 15.09 %

American Small Capitalization - 2022

1,371 41.88 to 41.88 57,425 0.00 % 1.20% to 1.20 % -38.75% to -38.75 %

American Small Capitalization - 2021

1,380 68.38 to 68.38 94,333 0.00 % 1.20% to 1.20 % -7.18% to -7.18 %

Federated

Government Money Fund II - 2025

102,036 1.34 to 1.34 136,481 3.63 % 1.20% to 1.20 % 2.11% to 2.11 %

Government Money Fund II - 2024

102,754 1.31 to 1.31 134,100 4.55 % 1.20% to 1.20 % 3.97% to 3.97 %

Government Money Fund II - 2023

89,838 1.26 to 1.26 113,376 4.45 % 1.20% to 1.20 % 3.28% to 3.28 %

Government Money Fund II - 2022

16,326 1.22 to 1.22 19,949 1.11 % 1.20% to 1.20 % 0.00% to 0.00 %

Government Money Fund II - 2021

18,885 1.22 to 1.22 23,088 0.00 % 1.20% to 1.20 % -1.61% to -1.61 %

Fund for U.S. Government Securities II - 2025

3,422 19.89 to 19.89 68,057 3.82 % 1.20% to 1.20 % 5.52% to 5.52 %

Fund for U.S. Government Securities II - 2024

3,385 18.85 to 18.85 63,797 3.65 % 1.20% to 1.20 % -0.63% to -0.63 %

Fund for U.S. Government Securities II - 2023

3,774 18.97 to 18.97 71,591 2.31 % 1.20% to 1.20 % 2.93% to 2.93 %

Fund for U.S. Government Securities II - 2022

4,101 18.43 to 18.43 75,569 1.87 % 1.20% to 1.20 % -13.60% to -13.60 %

Fund for U.S. Government Securities II - 2021

4,503 21.33 to 21.33 96,032 2.03 % 1.20% to 1.20 % -3.22% to -3.22 %

Fidelity

VIP Asset Manager: Growth - 2025

2,146 61.54 to 61.54 132,050 1.80 % 1.20% to 1.20 % 16.84% to 16.84 %

VIP Asset Manager: Growth - 2024

2,310 52.67 to 52.67 121,657 1.73 % 1.20% to 1.20 % 9.46% to 9.46 %

VIP Asset Manager: Growth - 2023

2,619 48.12 to 48.12 126,027 1.78 % 1.20% to 1.20 % 14.98% to 14.98 %

VIP Asset Manager: Growth - 2022

2,783 41.85 to 41.85 116,446 1.68 % 1.20% to 1.20 % -17.88% to -17.88 %

VIP Asset Manager: Growth - 2021

3,031 50.96 to 50.96 154,474 1.39 % 1.20% to 1.20 % 12.59% to 12.59 %

VIP Contrafund - 2025

955 223.56 to 223.56 213,554 0.14 % 1.20% to 1.20 % 20.02% to 20.02 %

VIP Contrafund - 2024

1,029 186.26 to 186.26 191,710 0.21 % 1.20% to 1.20 % 32.18% to 32.18 %

VIP Contrafund - 2023

1,590 140.91 to 140.91 224,076 0.50 % 1.20% to 1.20 % 31.85% to 31.85 %

VIP Contrafund - 2022

1,606 106.87 to 106.87 171,635 0.47 % 1.20% to 1.20 % -27.20% to -27.20 %

VIP Contrafund - 2021

1,626 146.79 to 146.79 238,689 0.06 % 1.20% to 1.20 % 26.30% to 26.30 %

VIP Equity Income - 2025

1,789 92.06 to 92.06 164,705 1.77 % 1.20% to 1.20 % 17.60% to 17.60 %

VIP Equity Income - 2024

1,928 78.28 to 78.28 150,935 1.82 % 1.20% to 1.20 % 13.94% to 13.94 %

VIP Equity Income - 2023

2,558 68.70 to 68.70 175,733 2.42 % 1.20% to 1.20 % 9.33% to 9.33 %

VIP Equity Income - 2022

5,273 62.84 to 62.84 331,309 1.86 % 1.20% to 1.20 % -6.08% to -6.08 %

VIP Equity Income - 2021

5,747 66.91 to 66.91 384,542 1.94 % 1.20% to 1.20 % 23.38% to 23.38 %

VIP Growth - January 1, 2025 to September 29, 2025

-  194.79 to 194.79 -  0.00 % 1.40% to 1.40 % 12.45% to 12.45 %

VIP Growth - 2024

10 173.23 to 173.23 1,767 0.00 % 1.40% to 1.40 % 28.56% to 28.56 %

VIP Growth - 2023

10 134.75 to 134.75 1,392 0.01 % 1.40% to 1.40 % 34.33% to 34.33 %

VIP Growth - 2022

601 100.31 to 100.31 60,317 0.58 % 1.40% to 1.40 % -25.51% to -25.51 %

VIP Growth - 2021

623 134.66 to 134.66 83,818 0.00 % 1.40% to 1.40 % 21.49% to 21.49 %

VIP Index 500 - 2025

1,082 98.42 to 98.42 106,516 1.13 % 1.20% to 1.40 % 16.36% to -31.17 %

VIP Index 500 - 2024

1,138 84.58 to 142.99 96,211 1.28 % 1.20% to 1.40 % 23.38% to 108.59 %

VIP Index 500 - 2023

1,286 68.55 to 68.55 88,158 1.22 % 1.20% to 1.40 % 24.70% to -26.54 %

VIP Index 500 - 2022

2,042 54.97 to 93.32 134,317 1.33 % 1.20% to 1.40 % -19.35% to -19.20 %

VIP Index 500 - 2021

3,044 68.03 to 115.71 235,501 1.26 % 1.20% to 1.40 % 26.78% to 27.04 %

MFS

Core Equity Portfolio - 2025

1,024 93.47 to 93.47 95,755 0.46 % 1.20% to 1.20 % 11.16% to 11.16 %

Core Equity Portfolio - 2024

1,036 84.09 to 84.09 87,111 0.59 % 1.20% to 1.20 % 18.65% to 18.65 %

Core Equity Portfolio - 2023

1,159 70.87 to 70.87 82,165 0.50 % 1.20% to 1.20 % 21.69% to 21.69 %

Core Equity Portfolio - 2022

1,308 58.24 to 58.24 76,172 0.33 % 1.20% to 1.20 % -18.26% to -18.26 %

Core Equity Portfolio - 2021

2,276 71.25 to 71.25 162,164 0.44 % 1.20% to 1.20 % 23.81% to 23.81 %

- 17 -

At December 31 For the years ended December 31****
Units Unit Value
lowest to highest 		Net Assets Investment
Income
Ratio* 		Expense Ratio
lowest to
highest** 		Total Return lowest to
highest***

MFS (cont'd)

Emerging Growth Series - 2025

997 162.27 to 162.27 $ 161,837 0.00 % 1.20% to 1.20 % 10.85% to 10.85 %

Emerging Growth Series - 2024

1,022 146.39 to 146.39 149,605 0.00 % 1.20% to 1.20 % 29.88% to 29.88 %

Emerging Growth Series - 2023

1,054 112.71 to 112.71 118,810 0.00 % 1.20% to 1.20 % 34.24% to 34.24 %

Emerging Growth Series - 2022

1,095 83.96 to 83.96 91,902 0.00 % 1.20% to 1.20 % -32.45% to -32.45 %

Emerging Growth Series - 2021

1,142 124.30 to 124.30 141,989 0.00 % 1.20% to 1.20 % 22.05% to 22.05 %

High Yield Series - 2025

542 36.44 to 36.44 19,739 7.07 % 1.20% to 1.20 % 7.34% to 7.34 %

High Yield Series - 2024

626 33.95 to 33.95 21,245 5.78 % 1.20% to 1.20 % 5.63% to 5.63 %

High Yield Series - 2023

725 32.14 to 32.14 23,289 5.78 % 1.20% to 1.20 % 11.06% to 11.06 %

High Yield Series - 2022

751 28.94 to 28.94 21,729 5.40 % 1.20% to 1.20 % -11.58% to -11.58 %

High Yield Series - 2021

775 32.73 to 32.73 25,361 5.00 % 1.20% to 1.20 % 2.25% to 2.25 %

Research Series - 2025

696 106.20 to 106.20 73,954 0.97 % 1.20% to 1.20 % 11.50% to 11.50 %

Research Series - 2024

754 95.24 to 95.24 71,818 0.58 % 1.20% to 1.20 % 17.44% to 17.44 %

Research Series - 2023

878 81.10 to 81.10 71,165 0.49 % 1.20% to 1.20 % 20.95% to 20.95 %

Research Series - 2022

979 67.05 to 67.05 65,661 0.45 % 1.20% to 1.20 % -18.20% to -18.20 %

Research Series - 2021

1,093 81.97 to 81.97 89,578 0.56 % 1.20% to 1.20 % 23.32% to 23.32 %

Income Series II - 2025

1,676 25.18 to 25.18 42,199 4.24 % 1.20% to 1.20 % 6.02% to 6.02 %

Income Series II - 2024

1,691 23.75 to 23.75 40,158 3.74 % 1.20% to 1.20 % 2.02% to 2.02 %

Income Series II - 2023

1,858 23.28 to 23.28 43,260 3.43 % 1.20% to 1.20 % 6.30% to 6.30 %

Income Series II - 2022

1,899 21.90 to 21.90 41,575 3.29 % 1.20% to 1.20 % -14.72% to -14.72 %

Income Series II - 2021

2,110 25.68 to 25.68 54,194 3.26 % 1.20% to 1.20 % -0.73% to -0.73 %

Pioneer

Equity Income VCT - 2025

214 46.58 to 46.58 9,951 1.98 % 1.20% to 1.20 % 9.81% to 9.81 %

Equity Income VCT - 2024

214 42.42 to 42.42 9,069 1.97 % 1.20% to 1.20 % 9.61% to 9.61 %

Equity Income VCT - 2023

214 38.70 to 38.70 8,278 1.63 % 1.20% to 1.20 % 5.91% to 5.91 %

Equity Income VCT - 2022

214 36.54 to 36.54 7,825 1.50 % 1.20% to 1.20 % -9.06% to -9.06 %

Equity Income VCT - 2021

214 40.18 to 40.18 8,611 1.25 % 1.20% to 1.20 % 23.86% to 23.86 %

Fund VCT - 2025

56 56.44 to 56.44 3,161 0.20 % 1.20% to 1.20 % 21.59% to 21.59 %

Fund VCT - 2024

61 46.42 to 46.42 2,854 0.44 % 1.20% to 1.20 % 20.85% to 20.85 %

Fund VCT - 2023

67 38.41 to 38.41 2,582 0.58 % 1.20% to 1.20 % 27.06% to 27.06 %

Fund VCT - 2022

73 30.23 to 30.23 2,213 0.39 % 1.20% to 1.20 % -20.66% to -20.66 %

Fund VCT - 2021

78 38.10 to 38.10 2,968 0.11 % 1.20% to 1.20 % 26.12% to 26.12 %

Mid Cap Value VCT - 2025

1,073 77.03 to 77.03 82,617 2.07 % 1.20% to 1.20 % 9.86% to 9.86 %

Mid Cap Value VCT - 2024

1,045 70.12 to 70.12 73,247 1.96 % 1.20% to 1.20 % 9.60% to 9.60 %

Mid Cap Value VCT - 2023

1,147 63.98 to 63.98 73,405 1.85 % 1.20% to 1.20 % 11.11% to 11.11 %

Mid Cap Value VCT - 2022

1,173 57.58 to 57.58 67,547 2.49 % 1.20% to 1.20 % -6.77% to -6.77 %

Mid Cap Value VCT - 2021

2,415 61.76 to 61.76 149,175 0.95 % 1.20% to 1.20 % 28.11% to 28.11 %

Real Estate Shares VCT - 2025

-  -  to -  -  0.00 % 0.00% to 0.00 % 0.00% to 0.00 %

Real Estate Shares VCT - 2024

-  -  to -  -  0.00 % 0.00% to 0.00 % 0.00% to 0.00 %

Real Estate Shares VCT - 2023 - January 1, 2023 to April 28, 2023

-  51.29 to 51.29 -  1.32 % 1.20% to 1.20 % -1.40% to -1.40 %

Real Estate Shares VCT - 2022

539 52.02 to 52.02 28,041 1.89 % 1.20% to 1.20 % -31.67% to -31.67 %

Real Estate Shares VCT - 2021

563 76.13 to 76.13 42,866 1.07 % 1.20% to 1.20 % 39.36% to 39.36 %

DWS

Bond - 2025

-  -  to -  -  0.00 % 0.00% to 0.00 % 0.00% to 0.00 %

Bond - 2024

-  -  to -  -  0.00 % 0.00% to 0.00 % 0.00% to 0.00 %

Bond - 2023

-  -  to -  -  0.00 % 0.00% to 0.00 % 0.00% to 0.00 %

Bond - 2022

-  -  to -  -  0.00 % 0.00% to 0.00 % 0.00% to 0.00 %

Bond - 2021 - January 1, 2021 to October 28, 2021

-  22.51 to 22.51 -  4.09 % 1.40% to 1.40 % -1.44% to -1.44 %

Global Opportunities - 2025

-  -  to -  -  0.00 % 0.00% to 0.00 % 0.00% to 0.00 %

Global Opportunities - January 1, 2024 to June 17,2024

-  48.81 to 48.81 -  2.22 % 1.20% to 1.20 % -0.87% to -0.87 %

Global Opportunities - 2023

62 49.24 to 49.24 3,059 0.62 % 1.20% to 1.20 % 22.73% to 22.73 %

Global Opportunities - 2022

76 40.12 to 40.12 3,065 0.22 % 1.20% to 1.20 % -25.14% to -25.14 %

Global Opportunities - 2021

76 53.59 to 53.59 4,074 0.08 % 1.20% to 1.20 % 13.27% to 13.27 %

Core Equity VIP - 2025

-  -  to -  -  0.00 % 0.00% to 0.00 % 0.00% to 0.00 %

Core Equity VIP - January 1, 2024 to June 17,2024

-  55.49 to 55.49 -  1.08 % 1.20% to 1.20 % 14.01% to 14.01 %

Core Equity VIP - 2023

282 48.67 to 48.67 13,747 0.56 % 1.20% to 1.20 % 23.65% to 23.65 %

Core Equity VIP - 2022

409 39.36 to 39.36 16,094 0.44 % 1.20% to 1.20 % -16.72% to -16.72 %

Core Equity VIP - 2021

474 47.26 to 47.26 22,407 0.37 % 1.20% to 1.20 % 23.43% to 23.43 %

International - 2025

1,337 29.59 to 29.59 39,547 2.75 % 1.20% to 1.20 % 43.15% to 43.15 %

International - 2024

1,543 20.67 to 20.67 31,891 3.49 % 1.20% to 1.20 % 1.22% to 1.22 %

International - 2023

1,813 20.42 to 20.42 37,011 3.07 % 1.20% to 1.20 % 17.56% to 17.56 %

International - 2022

2,162 17.37 to 17.37 37,559 3.04 % 1.20% to 1.20 % -14.26% to -14.26 %

International - 2021

2,362 20.26 to 20.26 47,843 2.47 % 1.20% to 1.20 % 7.94% to 7.94 %

- 18 -

At December 31 For the years ended December 31****
Units Unit Value
lowest to highest 		Net Assets Investment
Income
Ratio* 		Expense Ratio
lowest to
highest** 		Total Return
lowest to highest***

DWS (cont'd)

Money Market - 2025

5,388 1.35 to 1.35 $ 7,272 3.90 % 1.40% to 1.40 % 2.43% to 2.43 %

Money Market - 2024

5,392 1.32 to 1.32 7,098 4.81 % 1.40% to 1.40 % 3.13% to 3.13 %

Money Market - 2023

5,396 1.28 to 1.28 6,866 4.62 % 1.40% to 1.40 % 4.07% to 4.07 %

Money Market - 2022

5,401 1.23 to 1.23 6,655 1.11 % 1.40% to 1.40 % -0.81% to -0.81 %

Money Market - 2021 - October 28, 2021 to December 31, 2021

5,407 1.24 to 1.24 6,682 0.00 % 1.40% to 1.40 % 0.00% to 0.00 %

Small Cap Index VIP - 2025

163 45.68 to 45.68 7,468 1.28 % 1.20% to 1.20 % 11.29% to 11.29 %

Small Cap Index VIP - 2024

163 41.05 to 41.05 6,711 1.15 % 1.20% to 1.20 % 9.82% to 9.82 %

Small Cap Index VIP - 2023

163 37.38 to 37.38 6,111 1.07 % 1.20% to 1.20 % 15.37% to 15.37 %

Small Cap Index VIP - 2022

163 32.40 to 32.40 5,297 0.86 % 1.20% to 1.20 % -21.59% to -21.59 %

Small Cap Index VIP - 2021

163 41.32 to 41.32 6,755 0.88 % 1.20% to 1.20 % 13.11% to 13.11 %

T. Rowe Price

Equity Income - 2025

4,883 97.99 to 97.99 478,544 1.63 % 1.20% to 1.40 % 12.99% to 2.11 %

Equity Income - 2024

5,137 86.73 to 95.97 445,628 1.87 % 1.20% to 1.40 % 10.36% to 10.13 %

Equity Income - 2023

5,468 78.59 to 87.14 429,857 2.09 % 1.20% to 1.40 % 8.24% to 8.01 %

Equity Income - 2022

8,104 72.61 to 80.68 593,151 1.85 % 1.20% to 1.40 % -4.69% to -4.50 %

Equity Income - 2021

9,478 76.03 to 84.65 725,877 1.63 % 1.20% to 1.40 % 23.79% to 24.05 %

International Stock - 2025

4,398 33.35 to 33.35 146,661 1.99 % 1.20% to 1.20 % 21.21% to 17.00 %

International Stock - 2024

4,550 27.51 to 28.50 129,682 0.91 % 1.20% to 1.20 % -1.54% to 2.00 %

International Stock - 2023

5,286 27.94 to 27.94 147,691 0.98 % 1.20% to 1.20 % 14.84% to 14.84 %

International Stock - 2022

5,723 24.33 to 24.33 139,235 0.68 % 1.20% to 1.20 % -16.82% to -16.82 %

International Stock - 2021

7,775 29.25 to 29.25 227,398 0.61 % 1.20% to 1.20 % 0.10% to 0.10 %

Limited-Term Bond - 2025

1,653 19.05 to 19.05 31,489 4.26 % 1.20% to 1.20 % 4.46% to 4.28 %

Limited-Term Bond - 2024

1,653 18.24 to 18.27 30,150 4.09 % 1.20% to 1.20 % 3.70% to 3.87 %

Limited-Term Bond - 2023

2,364 17.59 to 17.59 41,582 3.06 % 1.20% to 1.20 % 3.65% to 3.65 %

Limited-Term Bond - 2022

2,919 16.97 to 16.97 49,524 1.89 % 1.20% to 1.20 % -5.62% to -5.62 %

Limited-Term Bond - 2021

3,390 17.98 to 17.98 60,969 1.37 % 1.20% to 1.20 % -1.10% to -1.10 %

New America Growth - 2025

1,063 184.99 to 199.29 199,362 0.00 % 1.20% to 1.40 % 14.91% to 14.68 %

New America Growth - 2024

1,120 160.98 to 173.78 182,788 0.07 % 1.20% to 1.40 % 23.64% to 23.40 %

New America Growth - 2023

1,237 130.20 to 140.83 163,199 0.21 % 1.20% to 1.40 % 27.43% to 27.16 %

New America Growth - 2022

1,844 102.17 to 110.75 194,715 0.00 % 1.20% to 1.40 % -22.61% to -22.45 %

New America Growth - 2021

1,932 131.75 to 143.10 263,067 0.00 % 1.20% to 1.40 % 19.11% to 19.35 %

Moderate Allocation - 2025

2,642 71.55 to 71.55 189,075 2.24 % 1.20% to 1.20 % 13.13% to 13.13 %

Moderate Allocation - 2024

2,841 63.25 to 63.25 179,716 2.28 % 1.20% to 1.20 % 8.73% to 8.73 %

Moderate Allocation - 2023

3,235 58.17 to 58.17 188,196 2.33 % 1.20% to 1.20 % 13.97% to 13.97 %

Moderate Allocation - 2022

4,191 51.04 to 51.04 213,916 1.46 % 1.20% to 1.20 % -19.29% to -19.29 %

Moderate Allocation - 2021

4,666 63.24 to 63.24 295,048 1.03 % 1.20% to 1.20 % 8.75% to 8.75 %

Morgan Stanley

VIF Emerging Markets Equity - 2025

797 35.65 to 35.65 28,428 0.40 % 1.20% to 1.20 % 31.40% to 31.40 %

VIF Emerging Markets Equity - 2024

871 27.13 to 27.13 23,629 1.38 % 1.20% to 1.20 % 6.52% to 6.52 %

VIF Emerging Markets Equity - 2023

860 25.47 to 25.47 21,900 1.55 % 1.20% to 1.20 % 10.59% to 10.59 %

VIF Emerging Markets Equity - 2022

846 23.03 to 23.03 19,472 0.52 % 1.20% to 1.20 % -25.97% to -25.97 %

VIF Emerging Markets Equity - 2021

1,353 31.11 to 31.11 42,079 0.82 % 1.20% to 1.20 % 1.77% to 1.77 %

VIF Core Plus Fixed Income - 2025

-  -  to -  -  0.00 % 0.00% to 0.00 % 0.00% to 0.00 %

VIF Core Plus Fixed Income - 2024

-  -  to -  -  0.00 % 0.00% to 0.00 % 0.00% to 0.00 %

VIF Core Plus Fixed Income - 2023 - January 1, 2023 to July 28, 2023

-  18.98 to 18.98 -  8.65 % 1.20% to 1.20 % 1.93% to 1.93 %

VIF Core Plus Fixed Income - 2022

4,006 18.62 to 18.62 74,585 4.78 % 1.20% to 1.20 % -15.36% to -15.36 %

VIF Core Plus Fixed Income - 2021

6,740 22.00 to 22.00 148,251 4.10 % 1.20% to 1.20 % -1.48% to -1.48 %
*

These ratios represent the dividends, excluding distributions of capital gains, received by the subaccount from the underlying portfolio, net of management fees assessed by the portfolio manager, divided by the average net assets. These ratios exclude those expenses that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the distribution of dividends by the underlying portfolio in which the subaccount invests.

**

These ratios represent the annualized contract expenses of the Separate Account for each year indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying portfolio are excluded.

***

These ratios represent the total return for the period indicated, including changes in the value of the underlying portfolio, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the Separate Account. The total return is calculated for each year indicated or from the effective date through the end of the reporting year or liquidation date.

****

Funds listed with date ranges represent partial year investments in funds. Unit values displayed represent unit value at disposition value.

- 19 -

Companion Life Separate Account C published this content on April 24, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 24, 2026 at 10:02 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]