Updating Summary Prospectus (Form 497VPU)

Executive Variable Universal Life II

Issued by The Northwestern Mutual Life Insurance Company ("Northwestern Mutual")
through Northwestern Mutual Variable Life Account II (the " Separate Account")

Updating Summary Prospectus
May 1, 2026

This Summary Prospectus contains more information about your individual flexible premium variable universal life policy (the "Policy"). The statutory prospectus for the Policy (the "Prospectus") contains more information about the Policy's features, benefits and risks. You can find this document and other information about the Policy, including the annual and semi-annual reports for your underlying portfolios, online at www.nmprospectus.com. You can also obtain this information at no cost by calling (866) 464-3800 or by sending an email request to [email protected].

Additional information about certain investment products, including variable life insurance policies, has been prepared by the Securities and Exchange Commission's staff and is available at www.Investor.gov.

The Securities and Exchange Commission ("SEC") has not approved or disapproved the Policy or passed upon the adequacy of this Summary Prospectus . Any representation to the contrary is a criminal offense.

Not Available in the State of New York

 

	Page
Updated Information About Your Policy	1
Important Information You Should Consider About the Policy	2
Glossary of Terms	5
Appendix A-Portfolios Available under Your Policy	7
Additional Information	12

Updated Information About Your Policy

The information in this section of the Updating Summary Prospectus is a summary of certain Policy features that have changed since your Prospectus dated July 1, 2025. This may not reflect all of the changes that have occurred since you entered into your Policy.

 Certain charges in the Annual Portfolio Operating Expenses table have been updated to reflect current minimum and maximum total operating expenses for the portfolios, as follows: 

	Minimum	Maximum
Annual Portfolio Operating Expenses (expenses deducted from Portfolio assets, including management fees, distribution (12b-1) fees, and other expenses as a percentage of average Portfolio assets)	0.14%	2.50%
Annual Portfolio Operating Expenses After Contractual Fee Waiver or Reimbursement*	0.14%	2.45%

Appendix A - Portfolios Available Under Your Policy has been updated to reflect the following changes to the available Portfolios: 

Portfolio & Trust Name Changes 

The name of the Sustainable Equity Portfolio has changed to "Quality Equity Portfolio".

The name of the Active/Passive All Equity Portfolio has changed to "Active/Passive Very Aggressive Portfolio".

The name of the Commodity Return Strategy Portfolio has changed to "Cantor Fitzgerald Commodity Return Strategy Portfolio" and the name of the Portfolio's trust has changed from "Credit Suisse Trust" to Cantor Fitzgerald Variable Insurance Trust". 

Investment Adviser and Sub-Adviser Changes

Putnam Investment Management, LLC has replaced Delaware Investments Fund Advisers as the sub-adviser for the Domestic Equity Portfolio.

O'Connor Alternative Investments, LLC has replaced UBS Asset Management (Americas) LLC as the investment adviser for the Cantor Fitzgerald Commodity Return Strategy Portfolio. 

Portfolio Expenses Change

The Current Expenses for the Emerging Markets Equity Portfolio (as set forth on Appendix A hereto) have changed from 0.89% to 0.79%.

  

Certain Periodic Charges (other than Portfolio Operating Expenses) have been updated to reflect the Cost of Insurance Charge, Specified Amount Charge, Selected Monthly Premium Benefit Charge, Current Charge for the Maximum Charge, Minimum Charge, and Charge for Insured Issue Age 50, Guaranteed Issue Non-Tobacco underwriting classification as follows: 

Charge	When Charge is Deducted	Amount Deducted
		Guaranteed Maximum Charge	Current Charge
Cost of Insurance Charge2	Monthly, on each Monthly Processing Date
Minimum Charge4		$0.03 (monthly) per $1,000 of net amount at risk	$0.003 (monthly) per $1,000 net amount at risk
Specified Amount Charge	Monthly, on each Monthly Processing Date during the first ten Policy Years

Charge	When Charge is Deducted	Amount Deducted
		Guaranteed Maximum Charge	Current Charge
Charge for Insured Issue Age 50, Guaranteed Issue Non-Tobacco underwriting classification		Same as current charge	0.58% (monthly) of Target Premium during Policy Years 1-10
Selected Monthly Premium Benefit Charge15	Monthly, on each Monthly Processing Date
Maximum Charge16		The greater of $0.09 (monthly) per $1.00 of Selected Monthly Premium, or $0.014 (monthly) per $1.00 of Specified Monthly Charges	The greater of $0.02 (monthly) per $1.00 of Selected Monthly Premium, or $0.03 (monthly) per $1.00 of Specified Monthly Charges

 

Important Information You Should Consider About the Policy 

	FEES AND EXPENSES			Cross-Reference(s) to Location in Prospectus
Charges for Early Withdrawals	Withdrawals are subject to a $25 service charge (currently waived) for each withdrawal request.			Fee and Expense Tables - Transaction Fees (Withdrawal Fee)
Transaction Charges	In addition to withdrawal charges, you may also be charged for other transactions, such as certain tax-related charges, a front-end sales load, charges for transferring between investment options, requesting more than one illustration in a Policy Year, changes to your Death Benefit option or Specified Amount, as well as charges for expedited delivery or wire transfers.			Fee and Expense Tables - Transaction Fees
Ongoing Fees and Expenses (annual charges)	In addition to the charges above, investment in the Policy is subject to ongoing fees and expenses, including fees covering the cost of insurance and optional benefits available under the Policy. These fees are based on information as of December 31, 2025, may change from year to year, and are generally based on characteristics of the insured (e.g., age, sex and rating classification). You should review your Policy specifications page for specific rates applicable under your Policy.   You bear the expenses associated with the Portfolios available under your Policy , the range for which is shown in the following table:			Fee and Expense Tables - Periodic Charges (Other than Portfolio Operating Expenses)   Fee and Expense Tables - Annual Portfolio Operating Expenses
	Annual Fee	Minimum*	Maximum*
	Investment Options (Portfolio company fees and expenses)	0.14%	2.50%
	* As a percentage of Portfolio assets.
	RISKS
Risk of Loss	You can lose money by investing in the Policy, including loss of principal.			Risks of the Policy - Investment Risk and The Funds

Glossary of Terms

ATTAINED AGE
The Insured's Issue Age listed in the Policy schedule pages, plus the number of complete Policy Years that have elapsed since the Policy Date.

COMPANY
The Northwestern Mutual Life Insurance Company.

CONTRACT FUND VALUE
An amount equal to amounts in the Divisions but does not include Policy Debt. Please note that in certain contexts outside of the Prospectus, such as sales literature, notices and/or other materials, the term Accumulated Value may be used in place of Contract Fund Value. In some circumstances, the terms Accumulated Value After Loan, Accumulated Value After Surrender Charge, or Net Accumulated Value may be used to describe your Contract Fund Value after deductions for a surrender charge or an outstanding loan, as appropriate.

DEATH BENEFIT
The gross amount payable to the beneficiary upon the second death, before the deduction of Policy Debt and other adjustments. (See "Life Insurance Benefit" in the Prospectus).

DEATH BENEFIT GUARANTEE
An option available upon purchase of the Policy that allows you to select a Death Benefit Guarantee Period during which the Policy is guaranteed not to terminate due to insufficient value in your Policy.

DIVISION
A subdivision of the Separate Account. We invest each Division's assets exclusively in shares of one Portfolio.

FINANCIAL REPRESENTATIVE
An individual who is authorized to sell you the Policy and who is licensed both as a Northwestern Mutual insurance agent and as a registered representative of our affiliate, Northwestern Mutual Investment Services, LLC, the principal underwriter of the Policy.

INSURED
The person named as the Insured on the Application and in the Policy. Typically, this is an employee of the employer-Owner of the Policy.

MINIMUM DEATH BENEFIT
The amount required by federal tax law to maintain the Policy as a life insurance contract.

MONTHLY PROCESSING DATE
The first Monthly Processing Date is the Policy Date; thereafter, the Monthly Processing Date is the same day of each month as the Policy Date. If the Monthly Processing Date would otherwise fall on the 29th, 30th, or 31st of the month, monthly processing will occur on that day or on the last day of the month if the month does not have that day.

NM STRENGTH AND STABILITY ACCOUNT
Amounts allocated or transferred to a fixed interest crediting option on or after the NM Strength and Stability Account availability date that are part of Northwestern Mutual's General Account.

NORTHWESTERN MUTUAL
The Northwestern Mutual Life Insurance Company.

PAID-UP
An insurance policy that is paid-up is one that generally does not require additional minimum premium payments to stay in force and which earns a fixed rate of interest.

POLICY
Your Executive Variable Universal Life policy issued by Northwestern Mutual through the Separate Account.

POLICY VALUE
The sum of Contract Fund Value and Policy Debt. Please note that in certain contexts outside of the Prospectus, such as sales literature, notices and/or other materials, the term Accumulated Value may be used in place of Policy Value. In some circumstances, the terms Accumulated Value After Loan, Accumulated Value After Surrender Charge, or Net Accumulated Value may be used to describe your Policy Value or an outstanding loan, as appropriate.

POLICY YEAR
A year that starts on the Policy Date or on a Policy Anniversary.

PORTFOLIO
A series of a Fund available for investment under the Policy which corresponds to a particular Division of the Separate Account.

PROSPECTUS
The full statutory prospectus for the Policy.

SELECTED MONTHLY PREMIUM
An amount the Owner selects subject to a maximum permitted amount under the Selected Monthly Premium Benefit.

SEPARATE ACCOUNT
Northwestern Mutual Variable Life Account II.

SPECIFIED AMOUNT
The amount you select, subject to minimums and underwriting requirements we establish, which is used in determining the insurance coverage on an Insured's life.

SPECIFIED MONTHLY CHARGES
Current Monthly Policy Charges excluding the Monthly Policy Debt Expense Charge and the charge for the Selected Monthly Premium Benefit.

SUMMARY PROSPECTUS
This document is a summary version of the prospectus, which summarizes key information found in the Prospectus for the Policy.

TARGET PREMIUM
An amount based on the Specified Amount, Death Benefit Guarantee Period, any optional benefits, and factors relating to the Insured including but not limited to Issue Age, sex, and underwriting classification, used to compute part of the Premium Expense Charge, the Deferred Sales Charge, and the sales commission.

VALUATION DATE
Any day the NYSE is open for trading, except for any days specified in the Policy's Prospectus including any day that a Division's corresponding investment option does not value its shares. A Valuation Date ends when the NYSE closes.

VALUATION PERIOD
The time between the close of trading on the NYSE on a Valuation Date and the close of trading on the next Valuation Date.

Appendix A-Portfolios Available under Your Policy

The following is a list of Portfolios available under your Policy. More information about the Portfolios is available in the prospectuses for the Portfolios, which may be amended from time to time and can be found online at www.nmprospectus.com. You can also request this information at no cost by calling (866) 464-3800 or by sending an email request to [email protected].

The current expenses and performance information below reflects fees and expenses of the Portfolios, but do not reflect the other fees and expenses that your Policy may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio's past performance is not necessarily an indication of future performance. Please note that depending on whether your Death Benefit Guarantee is in effect, allocations or transfers into the Government Money Market Division are subject to certain restrictions (see "The Fixed Option - Restrictions on Amounts in the SAS Account and Government Money Market Division" in the Prospectus).  

Investment Objective	Portfolio and Adviser/ Sub-adviser (if applicable)		Current Expenses	Average Annual Total Returns (as of 12/31/2025)
				1 Year	5 Year	10 Year
Long-term growth of capital; current income is a secondary objective	Growth Stock Portfolio2	Mason Street Advisors, LLC (MSA)/T. Rowe Price Associates, Inc.	0.42%1	19.40%	11.99%	14.80%
Long-term growth of capital	Focused Appreciation Portfolio2	MSA/Loomis, Sayles & Company, L.P.	0.58%1	14.91%	14.89%	17.07%
Long-term growth of capital and income	Large Cap Core Stock Portfolio2	MSA/Wellington Management Company LLP	0.43%1	16.59%	12.70%	13.96%
Long-term growth of capital and income	Large Cap Blend Portfolio2	MSA/J.P. Morgan Investment Management, Inc.	0.70%1	14.34%	11.77%	11.98%
Investment results that approximate the performance of the Standard & Poor's 500® Composite Stock Price Index	Index 500 Stock Portfolio2	MSA/BlackRock Advisors, LLC	0.19%1	17.64%	14.19%	14.58%
Long-term growth of capital; income is a secondary objective	Large Company Value Portfolio2	MSA/American Century Investment Management, Inc.	0.74%1	14.58%	9.85%	9.48%
Long-term growth of capital and income	Domestic Equity Portfolio2	MSA/Putnam Investment Management, LLC	0.50%1	14.43%	8.63%	8.87%
Long-term growth of capital and income	Equity Income Portfolio2	MSA/T. Rowe Price Associates, Inc.	0.57%1	14.48%	11.31%	10.64%
Long-term growth of capital	Mid Cap Growth Stock Portfolio2	MSA/J.P. Morgan Investment Management, Inc.	0.54%1	8.32%	2.51%	7.81%
Investment results that approximate the performance of the Standard & Poor's MidCap 400® Stock Price Index	Index 400 Stock Portfolio2	MSA/Northern Trust Investments, Inc.	0.24%1	7.24%	8.85%	10.44%
Long-term growth of capital; current income is a secondary objective	Mid Cap Value Portfolio2	MSA/American Century Investment Management, Inc.	0.71%1	9.16%	8.96%	9.25%
Long-term growth of capital	Small Cap Growth Stock Portfolio2	MSA/Wellington Management Company LLP	0.56%	6.93%	1.29%	8.82%
Investment results that approximate the performance of the Standard & Poor's SmallCap 600® Index	Index 600 Stock Portfolio2	MSA/Northern Trust Investments, Inc.	0.26%	5.78%	6.98%	9.48%
Long-term growth of capital	Small Cap Value Portfolio2	MSA/T. Rowe Price Investment Management, Inc.	0.87%1	7.41%	6.22%	9.15%
Long-term growth of capital	International Growth Portfolio2	MSA/FIAM LLC	0.61%1	18.70%	6.11%	9.07%

Investment Objective	Portfolio and Adviser/ Sub-adviser (if applicable)		Current Expenses	Average Annual Total Returns (as of 12/31/2025)
				1 Year	5 Year	10 Year
Seek to provide investment results that correspond to the aggregate price and interest performance of debt securities in the Bloomberg U.S. Aggregate Bond Index	Fidelity® VIP Bond Index Portfolio - Initial Class10	FMR 11	0.14%	6.98%	-0.57%	N/A
Long-term growth of capital	John Hancock Disciplined Value International Trust - Series NAV12	John Hancock Variable Trust Advisers LLC/Boston Partners Global Investors, Inc.	0.79%	41.02%	12.70%	8.97%
Long-term capital appreciation and current income	John Hancock Real Estate Securities Trust - Series NAV12	John Hancock Variable Trust Advisers LLC/Wellington Management Company LLP	0.76%1	0.63%	5.77%	5.91%
High level of current income	John Hancock Strategic Income Opportunities Trust - Series NAV12	John Hancock Variable Trust Advisers LLC/Manulife Investment Management (US) LLC	0.74%1	7.51%	1.61%	3.26%
Long-term growth of capital by investing primarily in securities of companies that meet the Portfolio's environmental, social and governance criteria	Quality Equity Portfolio13 (formerly "Sustainable Equity Portfolio")	Neuberger Berman Investment Advisers LLC	0.87%	13.71%	12.83%	12.94%
Long-term growth of capital	U.S. Strategic Equity Fund14	Russell Investment Management LLC (RIM)15	0.87%1	14.43%	10.66%	12.45%
Long-term growth of capital	U.S. Small Cap Equity Fund14	RIM15	1.06%1	8.34%	7.15%	8.98%
Current income and long- term growth of capital	Global Real Estate Securities Fund14	RIM15	0.90%	8.59%	2.55%	3.57%
Long-term growth of capital	International Developed Markets Fund14	RIM15	0.95%1	28.64%	8.53%	7.51%
Provide total return	Strategic Bond Fund14	RIM15	0.65%1	7.35%	-1.07%	1.77%
Current income and moderate long-term capital appreciation	LifePoints® Variable Target Portfolio Series Moderate Strategy Fund14	RIM15	0.83%1	12.24%	3.96%	5.05%
Above-average long-term capital appreciation and a moderate level of current income	LifePoints® Variable Target Portfolio Series Balanced Strategy Fund14	RIM15	0.89%1	14.96%	6.39%	6.88%
High long-term capital appreciation; and as a secondary objective, current income	LifePoints® Variable Target Portfolio Series Aggressive Strategy Fund14	RIM15	0.95%1	17.45%	8.56%	8.59%
High long-term capital appreciation	LifePoints® Variable Target Portfolio Series Equity Aggressive Strategy Fund14	RIM15	0.98%1	18.47%	9.53%	9.23%

Additional Information

More information about the Policy and Separate Account is included in a Statement of Additional Information ("SAI"), which is dated the same day as this Summary Prospectus and the Prospectus, and is available free of charge from The Northwestern Mutual Life Insurance Company. To request a free copy of the Separate Account's SAI, or current annual report, or to request other information about the Policy or to make investor inquiries, call (866) 464-3800. Under certain circumstances you or your Financial Representative may be able to obtain these documents online at www.nmprospectus.com. Reports and other information about the Separate Account are available on the SEC's Internet site at www.sec.gov, or they may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: [email protected].

This Summary Prospectus incorporates by reference the Prospectus for the Policy and the SAI, both dated July 1, 2025, as amended or supplemented.

 

Edgar Contract Identifier C000212051