NATIONWIDE

VARIABLE

ACCOUNT-9

Annual Report

To

Contract Owners

December 31, 2023

NATIONWIDE LIFE INSURANCE COMPANY

HOME OFFICE: COLUMBUS, OHIO

	KPMG LLP Suite 500 191 West Nationwide Blvd.
	Columbus, OH 43215-2568

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Nationwide Life Insurance Company and

Contract Owners of Nationwide Variable Account 9:

Opinion on the Financial Statements

We have audited the accompanying statement of assets, liabilities and contract owners’ equity of the sub-accounts listed in the Appendix that comprise the Nationwide Variable Account 9 (the Separate Account), as of the date listed in the Appendix, the related statements of operations for the year or period listed in the Appendix and changes in contract owners’ equity for the years or periods listed in the Appendix, and the related notes including the financial highlights in Note 6 (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of each sub-account as of the date listed in the Appendix, the results of its operations for the year or period listed in the Appendix, the changes in its contract owners’ equity for the years or periods listed in the Appendix, and the financial highlights for each of the years or periods indicated in Note 6, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements 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 Separate 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 are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, 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. Such procedures also included confirmation of securities owned as of December 31, 2023, by correspondence with the transfer agent of the underlying mutual funds or by other appropriate auditing procedures. 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. We believe that our audits provide a reasonable basis for our opinion.

/s/  KPMG LLP

We have not been able to determine the specific year that we began serving as the auditor of one or more Nationwide Life Insurance Company separate account investment companies, however we are aware that we have served as the auditor of one or more Nationwide Life Insurance Company separate account investment companies since at least 1981.

Columbus, Ohio

April 1, 2024

KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with

KPMG International Limited, a private English company limited by guarantee.

Appendix

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for each of the years in the two-year period then ended.

AB FUNDS

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class B (ALVGIB)¹

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Large Cap Growth Portfolio: Class B (ALVPGB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)¹

ALLSPRING GLOBAL INVESTMENTS

Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)

Allspring Variable Trust - VT Small Cap Growth Fund: Class 2 (WFVSCG)

AMERICAN CENTURY INVESTMENTS

American Century Variable Portfolios, Inc. - American Century VP International Fund: Class I (ACVI)

American Century Variable Portfolios, Inc. - American Century VP Disciplined Core Value Fund: Class I (ACVIG)

American Century Variable Portfolios, Inc. - American Century VP Disciplined Core Value Fund: Class II (ACVIG2)

American Century Variable Portfolios II, Inc. - American Century VP Inflation Protection Fund: Class II (ACVIP2)

American Century Variable Portfolios, Inc. - American Century VP Mid Cap Value Fund: Class I (ACVMV1)

American Century Variable Portfolios, Inc. - American Century VP Mid Cap Value Fund: Class II (ACVMV2)

American Century Variable Portfolios, Inc. - American Century VP Ultra(R) Fund: Class I (ACVU1)

American Century Variable Portfolios, Inc. - American Century VP Value Fund: Class I (ACVV)

American Century Variable Portfolios, Inc. - American Century VP Value Fund: Class II (ACVV2)

BLACKROCK FUNDS

BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)

BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)

BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)

BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)

BNY MELLON INVESTMENT MANAGEMENT

BNY Mellon Variable Investment Fund - Appreciation Portfolio: Initial Shares (DCAP)

BNY Mellon Variable Investment Fund - Opportunistic Small Cap Portfolio: Initial Shares (DSC)

BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)

BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)

BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Service Shares (DSRGS)

BNY Mellon Investment Portfolios - MidCap Stock Portfolio: Service Shares (DVMCSS)

BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)

COLUMBIA FUNDS MANAGEMENT COMPANY

Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - High Yield Bond Fund: Class 2 (CLVHY2)

DELAWARE FUNDS BY MACQUARIE

Delaware VIP Trust - Delaware VIP Small Cap Value Series: Service Class (DWVSVS)

EATON VANCE FUNDS

Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)

FEDERATED HERMES, INC.

Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Service Shares (FHIBS)

Federated Hermes Insurance Series - Federated Hermes Quality Bond Fund II: Primary Shares (FQB)

Federated Hermes Insurance Series - Federated Hermes Quality Bond Fund II: Service Shares (FQBS)

Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Service Shares (FVU2S)

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)

Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)

Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class (FCS)

Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)

Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class (FEIS)

Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2010 Portfolio: Service Class (FF10S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2010 Portfolio: Service Class 2 (FF10S2)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2020 Portfolio: Service Class (FF20S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2020 Portfolio: Service Class 2 (FF20S2)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2030 Portfolio: Service Class (FF30S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2030 Portfolio: Service Class 2 (FF30S2)

Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)

Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)

Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class (FGOS)

Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class (FGS)

Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class (FHIS)

Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class (FIGBS)

Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)

Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class (FMCS)

Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)

Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)

Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class (FOS)

Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)

Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class (FVSS)

Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

Franklin Templeton Variable Insurance Products Trust - Templeton Developing Markets VIP Fund: Class 2 (FTVDM2)

Franklin Templeton Variable Insurance Products Trust - Franklin Allocation VIP Fund: Class 2 (FTVFA2)

Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)

Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)

Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)

Franklin Templeton Variable Insurance Products Trust - Franklin Small Cap Value VIP Fund: Class 2 (FTVSV2)

Franklin Templeton Variable Insurance Products Trust - Templeton Foreign VIP Fund: Class 2 (TIF2)

GOLDMAN SACHS ASSET MANAGEMENT GROUP

Goldman Sachs Variable Insurance Trust - Goldman Sachs Trend Driven Allocation Fund: Service Shares (GVGMNS)

Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Service Shares (GVMSAS)

GUGGENHEIM INVESTMENTS

Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)

Guggenheim Variable Funds Trust - Series D (World Equity Income Series) (SBLD)

Guggenheim Variable Funds Trust - Series J (StylePlus Mid Growth Series) (SBLJ)

Guggenheim Variable Funds Trust - Series N (Managed Asset Allocation Series) (SBLN)

Guggenheim Variable Funds Trust - Series O (All Cap Value Series) (SBLO)

Guggenheim Variable Funds Trust - Series P (High Yield Series) (SBLP)

Guggenheim Variable Funds Trust - Series Q (Small Cap Value Series) (SBLQ)

Guggenheim Variable Funds Trust - Series V (SMid Cap Value Series) (SBLV)

Guggenheim Variable Funds Trust - Series X (StylePlus - Small Growth Series) (SBLX)

Guggenheim Variable Funds Trust - Series Y (StylePlus - Large Growth Series) (SBLY)

INVESCO INVESTMENTS

Invesco - Invesco V.I. Comstock Fund: Series II Shares (ACC2)

Invesco - Invesco V.I. American Franchise Fund: Series I Shares (ACEG)

Invesco - Invesco V.I. Core Equity Fund: Series II Shares (AVCE2)

Invesco - Invesco V.I. Core Equity Fund: Series I Shares (AVGI)

Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)

Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)

Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)

Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)

Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series I (OVAG)

Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series II (OVAG2)

Invesco - Invesco V.I. Main Street Fund: Series I (OVGI)

Invesco - Invesco V.I. Capital Appreciation Fund: Series I (OVGR)

Invesco - Invesco V.I. Global Fund: Series I (OVGS)

Invesco - Invesco V.I. Global Fund: Series II (OVGSS)

Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)

Invesco - Invesco V.I. Global Strategic Income Fund: Series I (OVSB)

Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)

Invesco - Invesco V.I. Main Street Small Cap Fund: Series I (OVSC)

Invesco - Invesco V.I. Main Street Small Cap Fund: Series II (OVSCS)

IVY INVESTMENTS

Ivy Variable Insurance Portfolios - Delaware Ivy Asset Strategy: Class II (WRASP)

Ivy Variable Insurance Portfolios - Delaware Ivy Corporate Bond: Class II (WRBDP)

Ivy Variable Insurance Portfolios - Delaware Ivy Balanced: Class II (WRBP)

Ivy Variable Insurance Portfolios - Delaware Ivy Core Equity: Class II (WRCEP)

Ivy Variable Insurance Portfolios - Delaware VIP Global Equity: Class II (WRDIV)¹

Ivy Variable Insurance Portfolios - Delaware Ivy Energy: Class II (WRENG)

Ivy Variable Insurance Portfolios - Delaware Ivy Natural Resources: Class II (WRGNR)

Ivy Variable Insurance Portfolios - Delaware Ivy Growth: Class II (WRGP)

Ivy Variable Insurance Portfolios - Delaware Ivy High Income: Class II (WRHIP)

Ivy Variable Insurance Portfolios - Delaware Ivy International Core Equity: Class II (WRI2P)

Ivy Variable Insurance Portfolios - Delaware Ivy Global Growth: Class II (WRIP)

Ivy Variable Insurance Portfolios - Delaware Ivy Limited-Term Bond: Class II (WRLTBP)

Ivy Variable Insurance Portfolios - Delaware Ivy Mid Cap Growth: Class II (WRMCG)

Ivy Variable Insurance Portfolios - Delaware VIP Real Estate Securities: Class II (WRRESP)

Ivy Variable Insurance Portfolios - Delaware Ivy Small Cap Growth: Class II (WRSCP)

Ivy Variable Insurance Portfolios - Delaware Ivy Smid Cap Core: Class II (WRSCV)

Ivy Variable Insurance Portfolios - Delaware Ivy Science and Technology: Class II (WRSTP)

Ivy Variable Insurance Portfolios - Delaware Ivy Value: Class II (WRVP)

JANUS HENDERSON INVESTORS

Janus Aspen Series - Janus Henderson Balanced Portfolio: Service Shares (JABS)

Janus Aspen Series - Janus Henderson Forty Portfolio: Service Shares (JACAS)

Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)

Janus Aspen Series - Janus Henderson Global Technology and Innovation Portfolio: Service Shares (JAGTS)

Janus Aspen Series - Janus Henderson Overseas Portfolio: Service Shares (JAIGS)

LAZARD FUNDS

Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)

LORD ABBETT FUNDS

Lord Abbett Series Fund, Inc. - Total Return Portfolio: Class VC (LOVTRC)

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust II - MFS Massachusetts Investors Growth Stock Portfolio: Service Class (M2IGSS)

MFS(R) Variable Insurance Trust - MFS Mid Cap Growth Series: Service Class (MMCGSC)

MFS(R) Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)

MFS(R) Variable Insurance Trust II - MFS Research International Portfolio: Service Class (MV2RIS)

MFS(R) Variable Insurance Trust III - MFS Mid Cap Value Portfolio: Service Class (MV3MVS)

MFS(R) Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)

MFS(R) Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)

MFS(R) Variable Insurance Trust II - MFS International Intrinsic Value Portfolio: Service Class (MVIVSC)

MORGAN STANLEY

Morgan Stanley Variable Insurance Fund, Inc. - Emerging Markets Debt Portfolio: Class I (MSEM)

Morgan Stanley Variable Insurance Fund, Inc. - Global Infrastructure Portfolio: Class II (MSGI2)

Morgan Stanley Variable Insurance Fund, Inc. - Growth Portfolio: Class II (MSVEG2)

Morgan Stanley Variable Insurance Fund, Inc. - Discovery Portfolio: Class I (MSVMG)

Morgan Stanley Variable Insurance Fund, Inc. - U.S. Real Estate Portfolio: Class I (MSVRE)

NATIONWIDE FUNDS GROUP

Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class II (DTRTFB)

Nationwide Variable Insurance Trust - NVIT BlackRock Equity Dividend Fund: Class I (EIF)

Nationwide Variable Insurance Trust - NVIT Government Bond Fund: Class I (GBF)

Nationwide Variable Insurance Trust - NVIT Government Bond Fund: Class II (GBF2)

Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class I (GEM)

Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)

Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)

Nationwide Variable Insurance Trust - NVIT American Funds Asset Allocation Fund: Class II (GVAAA2)

Nationwide Variable Insurance Trust - NVIT American Funds Bond Fund: Class II (GVABD2)

Nationwide Variable Insurance Trust - NVIT American Funds Global Growth Fund: Class II (GVAGG2)

Nationwide Variable Insurance Trust - NVIT American Funds Growth-Income Fund: Class II (GVAGI2)

Nationwide Variable Insurance Trust - NVIT American Funds Growth Fund: Class II (GVAGR2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Aggressive Fund: Class II (GVDMA)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Conservative Fund: Class II (GVDMC)

Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class I (GVEX1)

Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class II (GVEX2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Aggressive Fund: Class II (GVIDA)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Conservative Fund: Class II (GVIDC)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderate Fund: Class II (GVIDM)

Nationwide Variable Insurance Trust - NVIT International Index Fund: Class VIII (GVIX8)

Nationwide Variable Insurance Trust - NVIT Federated High Income Bond Fund: Class I (HIBF)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Managed Growth Fund: Class II (IDPG2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Managed Growth & Income Fund: Class II (IDPGI2)

Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class I (MCIF)

Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class II (MCIF2)

Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)

Nationwide Variable Insurance Trust - NVIT Managed American Funds Asset Allocation Fund: Class II (NAMAA2)

Nationwide Variable Insurance Trust - NVIT Managed American Funds Growth-Income Fund: Class II (NAMGI2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Managed Growth Fund: Class II (NCPG2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Managed Growth & Income Fund: Class II (NCPGI2)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class I (NVAMV1)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class II (NVAMV2)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class Z (NVAMVZ)

Nationwide Variable Insurance Trust - NVIT Core Bond Fund: Class I (NVCBD1)

Nationwide Variable Insurance Trust - NVIT Core Bond Fund: Class II (NVCBD2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Capital Appreciation Fund: Class II (NVCCA2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Conservative Fund: Class II (NVCCN2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Aggressive Fund: Class II (NVCMA2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Conservative Fund: Class II (NVCMC2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderate Fund: Class II (NVCMD2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Aggressive Fund: Class II (NVCRA2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Balanced Fund: Class II (NVCRB2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Balanced Fund: Class II (NVDBL2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Capital Appreciation Fund: Class II (NVDCA2)

Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class II (NVFIII)

Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class II (NVGEII)

Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class II (NVIE6)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class I (NVLCP1)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class II (NVLCP2)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class P (NVLCPP)

Nationwide Variable Insurance Trust - NVIT BlackRock Managed Global Allocation Fund: Class II (NVMGA2)

Nationwide Variable Insurance Trust - NVIT NS Partners International Focused Growth Fund: Class I (NVMIG1)

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class Z (NVMIVZ)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class II (NVMLG2)

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class II (NVMM2)

Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class I (NVMMG1)

Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class II (NVMMG2)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Mid Cap Value Fund: Class II (NVMMV2)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class I (NVNMO1)¹

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class II (NVNMO2)¹

Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)¹

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class I (NVOLG1)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class II (NVOLG2)

Nationwide Variable Insurance Trust - NVIT Real Estate Fund: Class I (NVRE1)

Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class II (NVSIX2)

Nationwide Variable Insurance Trust - NVIT Loomis Short Term Bond Fund: Class II (NVSTB2)¹

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class I (NVTIV3)

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class I (SAM)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Company Fund: Class I (SCF)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Company Fund: Class II (SCF2)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Growth Fund: Class I (SCGF)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Growth Fund: Class II (SCGF2)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Value Fund: Class I (SCVF)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Value Fund: Class II (SCVF2)

Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)

Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class II (TRF2)

NEUBERGER & BERMAN MANAGEMENT, INC.

Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)¹

Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class S Shares (AMMCGS)¹

Neuberger Berman Advisers Management Trust - Sustainable Equity Portfolio: Class I Shares (AMSRS)

Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)¹

PIMCO FUNDS

PIMCO Variable Insurance Trust - All Asset Portfolio: Advisor Class (PMVAAD)

PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Advisor Class (PMVEBD)

PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Advisor Class (PMVFAD)

PIMCO Variable Insurance Trust - Low Duration Portfolio: Advisor Class (PMVLAD)

PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)

PIMCO Variable Insurance Trust - Short-Term Portfolio: Advisor Class (PMVSTA)

PUTNAM INVESTMENTS

Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)

Putnam Variable Trust - Putnam VT International Value Fund: Class IB (PVIGIB)

Putnam Variable Trust - Putnam VT International Equity Fund: Class IB (PVTIGB)

ROYCE CAPITAL FUNDS

Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)

T. ROWE PRICE

T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)

VAN ECK ASSOCIATES CORPORATION

VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)

VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)

VanEck VIP Trust - VanEck VIP Global Resources Fund: Class S (VWHAS)

VIRTUS MUTUAL FUNDS

Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2023 and the period from May 20, 2022 (inception) to December 31, 2022.

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2023 and the period from May 24, 2022 (inception) to December 31, 2022.

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 2 (AMVGV2)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2023 and the period from July 13, 2022 (inception) to December 31, 2022.

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, and the related statements of operations and changes in contract owners’ equity for the period from April 28, 2023 (inception) to December 31, 2023.

LINCOLN FUNDS

Lincoln Variable Insurance Products Trust - LVIP JPMorgan Mid Cap Value Fund: Standard Class (LJPMVS)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, and the related statements of operations and changes in contract owners’ equity for the period from May 9, 2023 (inception) to December 31, 2023.

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, and the related statements of operations and changes in contract owners’ equity for the period from May 19, 2023 (inception) to December 31, 2023.

PIMCO FUNDS

PIMCO Variable Insurance Trust - Income Portfolio: Advisor Class (PMVIV)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, and the related statements of operations and changes in contract owners’ equity for the period from June 15, 2023 (inception) to December 31, 2023.

JANUS HENDERSON INVESTORS

Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, and the related statements of operations and changes in contract owners’ equity for the period from July 17, 2023 (inception) to December 31, 2023.

T. ROWE PRICE

T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, and the related statements of operations and changes in contract owners’ equity for the period from July 18, 2023 (inception) to December 31, 2023.

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2023, and the related statements of operations and changes in contract owners’ equity for the period from November 14, 2023 (inception) to December 31, 2023.

PUTNAM INVESTMENTS

Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)

⁽¹⁾ See Note 1 to the financial statements for the former name of the sub-account.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023

Subaccount*,**	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
ALVGIB		18,586	$	531,267	$	534,902	$	-	$	534,902	$	39	$	534,863	$	523,983	$	10,880	$	534,863
ALVIVB		5,058		72,547		74,400		-		74,400		25		74,375		74,375		-		74,375
ALVPGB		12,910		827,831		864,456		-		864,456		35		864,421		864,421		-		864,421
ALVSVB		223,466		4,398,059		3,897,240		2,384		3,899,624		-		3,899,624		3,475,585		424,039		3,899,624
SVOF		4,141		104,295		107,612		1,645		109,257		-		109,257		79,769		29,488		109,257
WFVSCG		502,643		5,719,552		3,950,773		-		3,950,773		184		3,950,589		3,901,204		49,385		3,950,589
ACVI		89,439		988,032		946,262		-		946,262		379		945,883		931,066		14,817		945,883
ACVIG		5,232,681		46,599,043		40,134,659		20,107		40,154,766		-		40,154,766		39,845,074		309,692		40,154,766
ACVIG2		51,379		452,698		394,077		-		394,077		3,029		391,048		391,048		-		391,048
ACVIP2		1,451,035		15,166,076		13,596,196		30,997		13,627,193		-		13,627,193		12,976,731		650,462		13,627,193
ACVMV1		599,681		12,089,986		11,657,800		1,870		11,659,670		-		11,659,670		11,653,591		6,079		11,659,670
ACVMV2		29,445		581,078		573,302		66		573,368		-		573,368		-		573,368		573,368
ACVU1		2,114		36,438		54,221		-		54,221		99		54,122		54,104		18		54,122
ACVV		106,844		1,179,068		1,302,432		-		1,302,432		6,766		1,295,666		1,267,496		28,170		1,295,666
ACVV2		64,242		767,461		784,397		-		784,397		57		784,340		784,340		-		784,340
AMVBC4		47,007		607,903		660,920		-		660,920		18		660,902		660,902		-		660,902
AMVGS4		1,383		23,730		24,141		-		24,141		2		24,139		24,139		-		24,139
AMVGV2		35,405		352,332		346,264		-		346,264		19		346,245		346,245		-		346,245
AMVNW4		16,882		393,742		421,213		-		421,213		19		421,194		421,194		-		421,194
BRVED3		538,128		6,202,652		5,704,157		-		5,704,157		182		5,703,975		5,703,975		-		5,703,975
BRVHY3		1,154,051		7,584,099		7,893,711		39,142		7,932,853		-		7,932,853		7,932,853		-		7,932,853
BRVTR3		342,682		3,779,694		3,461,090		10,115		3,471,205		-		3,471,205		3,471,205		-		3,471,205
MLVGA3		1,361,146		19,319,985		17,735,736		-		17,735,736		270		17,735,466		17,674,358		61,108		17,735,466
DCAP		1,448		59,280		50,702		1,241		51,943		-		51,943		146		51,797		51,943
DSIF		4,267,125		212,808,509		294,773,001		-		294,773,001		7,120		294,765,881		291,350,821		3,415,060		294,765,881
DSRG		794,833		29,255,834		35,751,594		-		35,751,594		6,287		35,745,307		35,648,294		97,013		35,745,307
DSRGS		320		11,242		14,088		-		14,088		3		14,085		14,085		-		14,085
DVMCSS		70,213		1,223,996		1,303,161		-		1,303,161		65		1,303,096		1,303,096		-		1,303,096
DVSCS		935,177		16,516,734		17,375,581		10,688		17,386,269		-		17,386,269		17,108,507		277,762		17,386,269
CLVHY2		64,927		391,984		391,510		-		391,510		50		391,460		391,460		-		391,460
DWVSVS		66,378		2,514,955		2,531,638		-		2,531,638		148		2,531,490		2,531,490		-		2,531,490
ETVFR		924,181		8,094,990		7,994,162		-		7,994,162		35		7,994,127		7,994,127		-		7,994,127
FHIBS		107,417		647,773		604,755		-		604,755		1,102		603,653		603,653		-		603,653
FQB		3,117,047		34,125,411		31,606,861		22,392		31,629,253		-		31,629,253		31,264,497		364,756		31,629,253
FQBS		86,592		969,422		876,312		-		876,312		4,632		871,680		871,680		-		871,680
FVU2S		8,134		73,166		74,834		-		74,834		23		74,811		74,811		-		74,811

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023

Subaccount*,**	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
FB2		987,489		20,341,547		21,270,521		-		21,270,521		251		21,270,270		21,270,270		-		21,270,270
FC2		67,345		2,819,380		3,153,788		-		3,153,788		103		3,153,685		3,153,685		-		3,153,685
FCS		316,288		11,577,803		15,276,714		-		15,276,714		12,727		15,263,987		15,235,439		28,548		15,263,987
FEI2		90,371		2,205,753		2,160,778		-		2,160,778		447		2,160,331		2,160,331		-		2,160,331
FEIS		5,535,386		121,766,945		136,447,255		17,617		136,464,872		-		136,464,872		134,454,839		2,010,033		136,464,872
FEMS2		138,119		1,449,672		1,461,301		-		1,461,301		95		1,461,206		1,461,206		-		1,461,206
FF10S		386,788		4,678,260		4,374,578		-		4,374,578		144		4,374,434		4,374,434		-		4,374,434
FF10S2		1,066		12,425		11,956		-		11,956		2,907		9,049		-		9,049		9,049
FF20S		684,466		8,457,155		8,521,605		4,792		8,526,397		-		8,526,397		8,499,923		26,474		8,526,397
FF20S2		7,784		98,619		96,525		118		96,643		-		96,643		-		96,643		96,643
FF30S		547,588		8,070,385		8,383,578		2,066		8,385,644		-		8,385,644		8,379,280		6,364		8,385,644
FF30S2		4,577		68,499		69,806		6,385		76,191		-		76,191		-		76,191		76,191
FG2		36,421		2,950,923		3,275,013		-		3,275,013		174		3,274,839		3,274,839		-		3,274,839
FGI2		117,052		2,879,768		3,057,392		-		3,057,392		123		3,057,269		3,057,269		-		3,057,269
FGOS		32,587		1,577,873		1,937,921		1,627		1,939,548		-		1,939,548		1,939,548		-		1,939,548
FGS		2,212,917		169,232,126		204,384,976		-		204,384,976		35,900		204,349,076		203,153,286		1,195,790		204,349,076
FHIS		9,320,632		42,528,393		42,502,081		27,796		42,529,877		-		42,529,877		42,335,137		194,740		42,529,877
FIGBS		2,011,931		25,684,581		22,151,365		1,937		22,153,302		-		22,153,302		21,569,181		584,121		22,153,302
FMC2		27,640		894,664		958,819		-		958,819		10,409		948,410		-		948,410		948,410
FMCS		471,813		16,738,148		16,942,809		3,526		16,946,335		-		16,946,335		16,884,226		62,109		16,946,335
FNRS2		453,805		10,703,891		11,159,058		337		11,159,395		-		11,159,395		11,108,847		50,548		11,159,395
FO2		30,771		660,723		784,966		-		784,966		1,919		783,047		783,047		-		783,047
FOS		800,565		17,350,190		20,558,508		-		20,558,508		7,246		20,551,262		20,326,225		225,037		20,551,262
FRESS2		63,175		1,126,908		1,066,396		-		1,066,396		61		1,066,335		1,066,335		-		1,066,335
FVFRHI		28,742		290,906		283,107		-		283,107		4		283,103		283,103		-		283,103
FVSS		484,974		7,700,575		7,992,379		-		7,992,379		593		7,991,786		7,862,026		129,760		7,991,786
FVSS2		22,083		339,119		369,894		-		369,894		43		369,851		369,851		-		369,851
FTVDM2		258,249		2,525,249		2,125,389		4,733		2,130,122		-		2,130,122		2,079,379		50,743		2,130,122
FTVFA2		532,260		2,875,616		2,608,073		10,010		2,618,083		-		2,618,083		2,597,191		20,892		2,618,083
FTVGI2		626,436		9,651,335		8,043,441		606		8,044,047		-		8,044,047		8,012,080		31,967		8,044,047
FTVIS2		1,627,719		24,475,922		23,113,610		58,899		23,172,509		-		23,172,509		22,826,276		346,233		23,172,509
FTVRD2		17,529		454,263		472,061		-		472,061		7,348		464,713		-		464,713		464,713
FTVSV2		560,466		7,551,792		7,437,384		-		7,437,384		247		7,437,137		7,219,686		217,451		7,437,137
TIF2		176,839		2,378,521		2,518,191		19,839		2,538,030		-		2,538,030		2,392,445		145,585		2,538,030
GVGMNS		8,658		98,039		98,271		-		98,271		22		98,249		98,249		-		98,249
GVMSAS		6,913		64,345		61,460		-		61,460		19		61,441		61,441		-		61,441
RVARS		35,975		940,376		931,392		-		931,392		67		931,325		931,325		-		931,325

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023

Subaccount*,**	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
SBLD		25,886		334,965		350,237		-		350,237		101		350,136		350,136		-		350,136
SBLJ		2,709		129,741		124,410		-		124,410		180		124,230		124,230		-		124,230
SBLN		20,514		625,144		596,353		18		596,371		-		596,371		596,371		-		596,371
SBLO		8,306		271,313		272,603		-		272,603		539		272,064		272,064		-		272,064
SBLP		10,582		284,407		259,580		38		259,618		-		259,618		259,618		-		259,618
SBLQ		13,597		551,035		586,979		-		586,979		517		586,462		586,462		-		586,462
SBLV		19,778		1,378,995		1,426,978		45		1,427,023		-		1,427,023		1,427,023		-		1,427,023
SBLX		2,030		56,429		54,252		-		54,252		109		54,143		54,143		-		54,143
SBLY		6,686		124,267		127,109		-		127,109		2		127,107		127,107		-		127,107
ACC2		121,088		2,473,857		2,370,899		-		2,370,899		578		2,370,321		2,370,321		-		2,370,321
ACEG		303		18,867		17,848		-		17,848		6		17,842		17,842		-		17,842
AVCE2		11,422		343,493		332,617		-		332,617		29		332,588		332,588		-		332,588
AVGI		88		2,715		2,592		-		2,592		2		2,590		2,590		-		2,590
IVHS		16,546		457,962		428,699		-		428,699		146		428,553		428,553		-		428,553
IVKEI1		20,655		381,387		340,395		-		340,395		19		340,376		340,376		-		340,376
IVMCC2		14,983		122,413		140,695		-		140,695		33		140,662		140,662		-		140,662
IVRE		10,887		173,600		152,194		-		152,194		108		152,086		152,086		-		152,086
OVAG		787,594		58,514,881		49,468,786		2,509		49,471,295		-		49,471,295		49,380,852		90,443		49,471,295
OVAG2		21,787		1,688,911		1,176,693		362		1,177,055		-		1,177,055		1,117,817		59,238		1,177,055
OVGI		16,574		404,801		301,982		2,532		304,514		-		304,514		24		304,490		304,514
OVGR		79,178		3,785,412		3,726,886		-		3,726,886		562		3,726,324		3,720,075		6,249		3,726,324
OVGS		2,127,513		79,153,240		77,781,860		6,086		77,787,946		-		77,787,946		76,809,670		978,276		77,787,946
OVGSS		16,922		611,814		600,732		-		600,732		578		600,154		600,154		-		600,154
OVIGS		470,670		1,046,430		1,007,234		-		1,007,234		85		1,007,149		1,007,149		-		1,007,149
OVSB		418,499		1,682,618		1,795,360		-		1,795,360		153		1,795,207		1,795,207		-		1,795,207
OVSBS		106,464		442,712		470,570		-		470,570		749		469,821		455,124		14,697		469,821
OVSC		252,792		6,198,845		6,802,643		-		6,802,643		349		6,802,294		6,801,306		988		6,802,294
OVSCS		2,792		63,335		73,418		-		73,418		18		73,400		-		73,400		73,400
WRASP		5,161,204		47,575,850		45,212,145		10,508		45,222,653		-		45,222,653		45,137,738		84,915		45,222,653
WRBDP		5,107,228		26,826,649		23,901,829		-		23,901,829		1,159		23,900,670		23,875,801		24,869		23,900,670
WRBP		6,169		29,479		33,310		8,426		41,736		-		41,736		-		41,736		41,736
WRCEP		5,421,529		61,907,702		69,287,144		-		69,287,144		16,688		69,270,456		69,169,203		101,253		69,270,456
WRDIV		1,429,844		7,266,680		6,963,339		-		6,963,339		146		6,963,193		6,963,193		-		6,963,193
WRENG		315,835		1,125,763		1,610,758		-		1,610,758		111		1,610,647		1,610,647		-		1,610,647
WRGNR		523,885		2,092,570		2,472,736		-		2,472,736		4,108		2,468,628		2,464,225		4,403		2,468,628
WRGP		10,137,640		97,837,315		100,565,394		-		100,565,394		237,395		100,327,999		100,224,696		103,303		100,327,999
WRHIP		9,905,163		32,633,480		29,220,230		21,133		29,241,363		-		29,241,363		29,140,730		100,633		29,241,363

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023

Subaccount*,**	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
WRI2P		468,812		7,448,786		7,571,308		-		7,571,308		847		7,570,461		7,558,940		11,521		7,570,461
WRIP		5,058,572		16,272,651		16,035,672		-		16,035,672		20,223		16,015,449		15,985,592		29,857		16,015,449
WRLTBP		900,165		4,371,695		4,248,781		-		4,248,781		112		4,248,669		4,248,669		-		4,248,669
WRMCG		1,647,936		19,607,767		16,479,355		-		16,479,355		670		16,478,685		16,473,408		5,277		16,478,685
WRRESP		635,741		4,272,293		3,878,021		3,069		3,881,090		-		3,881,090		3,871,365		9,725		3,881,090
WRSCP		4,787,585		38,088,829		27,528,612		-		27,528,612		2,480		27,526,132		27,501,522		24,610		27,526,132
WRSCV		410,676		5,170,842		4,730,988		-		4,730,988		91		4,730,897		4,730,897		-		4,730,897
WRSTP		2,474,338		64,274,952		56,835,545		-		56,835,545		1,363		56,834,182		56,812,435		21,747		56,834,182
WRVP		311		1,753		1,565		-		1,565		1,565		-		-		-		-
JABS		46,831		2,134,735		2,250,244		-		2,250,244		50		2,250,194		2,241,631		8,563		2,250,194
JACAS		2,157,574		80,485,665		91,675,306		-		91,675,306		11,769		91,663,537		90,903,435		760,102		91,663,537
JAFBS		213,642		2,702,120		2,384,244		-		2,384,244		93		2,384,151		2,384,151		-		2,384,151
JAGSEI		3,062		30,628		31,968		-		31,968		2		31,966		31,966		-		31,966
JAGTS		3,122,001		45,221,655		50,139,340		1,160		50,140,500		-		50,140,500		50,060,707		79,793		50,140,500
JAIGS		807,315		25,781,954		32,357,182		-		32,357,182		10,179		32,347,003		32,177,226		169,777		32,347,003
LZREMS		58,677		1,146,951		1,222,251		-		1,222,251		111		1,222,140		1,222,140		-		1,222,140
LJPMVS		1,105,698		10,306,506		11,248,265		-		11,248,265		361		11,247,904		11,247,904		-		11,247,904
LOVTRC		66,193		1,015,422		939,934		-		939,934		64		939,870		939,870		-		939,870
M2IGSS		10,486		224,795		231,751		-		231,751		12		231,739		-		231,739		231,739
MMCGSC		58,791		451,187		436,233		-		436,233		45		436,188		436,188		-		436,188
MNDSC		229,098		2,853,628		2,313,892		-		2,313,892		164		2,313,728		2,313,728		-		2,313,728
MV2RIS		14,119		224,256		234,798		-		234,798		26		234,772		234,772		-		234,772
MV3MVS		36,939		364,129		357,571		-		357,571		50		357,521		357,521		-		357,521
MVFSC		1,102,614		24,018,052		22,835,132		9,800		22,844,932		-		22,844,932		22,509,826		335,106		22,844,932
MVIGSC		32,463		454,180		468,445		-		468,445		35		468,410		468,410		-		468,410
MVIVSC		465,647		13,631,037		13,424,615		-		13,424,615		1,866		13,422,749		13,392,561		30,188		13,422,749
MSEM		397,677		2,858,078		2,187,223		-		2,187,223		392		2,186,831		2,154,526		32,305		2,186,831
MSGI2		224,583		1,658,125		1,356,480		-		1,356,480		82		1,356,398		1,356,398		-		1,356,398
MSVEG2		112,038		995,432		1,134,942		-		1,134,942		59		1,134,883		1,134,883		-		1,134,883
MSVRE		29,331		526,509		426,475		-		426,475		1,353		425,122		418,428		6,694		425,122
DTRTFB		69,121		607,587		588,223		-		588,223		32		588,191		588,191		-		588,191
EIF		889,366		16,488,944		17,333,736		-		17,333,736		13,026		17,320,710		16,917,947		402,763		17,320,710
GBF		4,728,215		52,467,863		44,776,198		61,518		44,837,716		-		44,837,716		44,168,060		669,656		44,837,716
GBF2		63,084		621,902		596,143		-		596,143		4,172		591,971		591,971		-		591,971
GEM		675,090		8,452,002		7,074,944		-		7,074,944		1,094		7,073,850		7,019,712		54,138		7,073,850
GEM2		13,690		143,569		141,149		-		141,149		38		141,111		141,111		-		141,111
GIG		1,075,129		11,005,017		11,557,635		-		11,557,635		13,338		11,544,297		11,448,851		95,446		11,544,297

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023

Subaccount*,**	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
GVAAA2		3,095,270		84,196,844		78,681,762		37,178		78,718,940		-		78,718,940		76,692,648		2,026,292		78,718,940
GVABD2		722,362		8,602,282		7,880,969		3,443		7,884,412		-		7,884,412		7,733,135		151,277		7,884,412
GVAGG2		547,738		17,940,547		19,242,050		15,837		19,257,887		-		19,257,887		19,114,785		143,102		19,257,887
GVAGI2		342,600		18,778,539		21,542,682		-		21,542,682		801		21,541,881		20,763,337		778,544		21,541,881
GVAGR2		378,909		37,173,166		41,005,540		32,455		41,037,995		-		41,037,995		40,077,761		960,234		41,037,995
GVDMA		6,372,682		69,025,698		57,991,410		358,722		58,350,132		-		58,350,132		54,624,397		3,725,735		58,350,132
GVDMC		2,293,088		23,698,573		21,096,414		3,974		21,100,388		-		21,100,388		19,514,429		1,585,959		21,100,388
GVEX1		137,398		1,104,402		1,261,309		-		1,261,309		20		1,261,289		1,261,289		-		1,261,289
GVEX2		4,332,241		38,136,640		38,773,557		482		38,774,039		-		38,774,039		38,725,859		48,180		38,774,039
GVIDA		2,639,281		29,724,470		26,947,057		49		26,947,106		-		26,947,106		25,741,023		1,206,083		26,947,106
GVIDC		1,282,132		12,666,607		12,077,683		13,513		12,091,196		-		12,091,196		11,747,148		344,048		12,091,196
GVIDM		10,436,640		108,146,500		90,276,935		269,034		90,545,969		-		90,545,969		84,555,666		5,990,303		90,545,969
GVIX8		444,508		4,411,122		4,658,443		-		4,658,443		163		4,658,280		4,658,280		-		4,658,280
HIBF		3,212,509		20,473,050		18,600,427		18,827		18,619,254		-		18,619,254		18,347,603		271,651		18,619,254
IDPG2		45,969		498,794		468,882		-		468,882		13		468,869		468,869		-		468,869
IDPGI2		6,765		69,469		69,413		-		69,413		8		69,405		69,405		-		69,405
MCIF		3,485,557		71,730,718		65,667,902		30,396		65,698,298		-		65,698,298		65,098,299		599,999		65,698,298
MCIF2		115,312		2,743,595		2,125,202		78		2,125,280		-		2,125,280		2,123,130		2,150		2,125,280
MSBF		2,804,960		25,333,641		23,449,466		10,726		23,460,192		-		23,460,192		23,137,525		322,667		23,460,192
NAMAA2		208,715		2,227,179		1,993,224		-		1,993,224		62		1,993,162		1,993,162		-		1,993,162
NAMGI2		25,321		312,232		358,548		-		358,548		50		358,498		358,498		-		358,498
NCPG2		12,195		142,344		148,532		-		148,532		17		148,515		148,515		-		148,515
NCPGI2		17,083		186,315		200,038		-		200,038		14		200,024		200,024		-		200,024
NVAMV1		5,941,431		98,069,112		99,756,626		55,351		99,811,977		-		99,811,977		98,712,540		1,099,437		99,811,977
NVAMV2		61,165		1,096,541		1,019,003		-		1,019,003		60		1,018,943		1,018,943		-		1,018,943
NVAMVX		939,431		14,699,890		15,744,864		-		15,744,864		400		15,744,464		15,744,464		-		15,744,464
NVAMVZ		105,730		1,519,640		1,746,653		607		1,747,260		-		1,747,260		1,553,332		193,928		1,747,260
NVCBD1		733,952		7,434,785		6,715,658		72		6,715,730		-		6,715,730		6,667,313		48,417		6,715,730
NVCBD2		19,335		184,640		176,338		-		176,338		18		176,320		176,320		-		176,320
NVCCA2		354,924		3,673,428		3,801,238		378		3,801,616		-		3,801,616		3,721,963		79,653		3,801,616
NVCCN2		548,349		5,684,251		5,697,349		28,538		5,725,887		-		5,725,887		5,529,422		196,465		5,725,887
NVCMA2		443,666		4,039,004		4,569,759		528,353		5,098,112		-		5,098,112		3,561,998		1,536,114		5,098,112
NVCMC2		368,497		3,980,278		3,979,766		-		3,979,766		1,374		3,978,392		3,932,726		45,666		3,978,392
NVCMD2		819,512		8,650,337		9,006,432		444,758		9,451,190		-		9,451,190		8,197,969		1,253,221		9,451,190
NVCRA2		276,863		2,898,455		3,410,947		-		3,410,947		86		3,410,861		3,410,861		-		3,410,861
NVCRB2		862,069		9,053,097		9,577,581		525		9,578,106		-		9,578,106		9,331,563		246,543		9,578,106
NVDBL2		421,887		6,066,641		5,522,495		1,550		5,524,045		-		5,524,045		5,443,396		80,649		5,524,045

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023

Subaccount*,**	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
NVDCA2		149,898		2,027,576		1,875,226		665		1,875,891		-		1,875,891		1,843,224		32,667		1,875,891
NVFIII		33,856		323,623		322,652		-		322,652		20		322,632		322,632		-		322,632
NVGEII		46,592		659,001		741,743		-		741,743		27		741,716		741,716		-		741,716
NVIE6		47,525		478,058		504,718		-		504,718		7		504,711		480,012		24,699		504,711
NVLCP1		97,730		1,080,902		965,569		-		965,569		101		965,468		965,468		-		965,468
NVLCP2		154,052		1,739,829		1,545,144		29,309		1,574,453		-		1,574,453		1,499,457		74,996		1,574,453
NVLCPP		836,814		9,406,371		8,309,562		1,292		8,310,854		-		8,310,854		8,293,550		17,304		8,310,854
NVMGA2		14,515		153,625		167,653		-		167,653		25		167,628		167,628		-		167,628
NVMIG1		2,869,787		29,223,106		22,298,245		13,561		22,311,806		-		22,311,806		22,133,571		178,235		22,311,806
NVMIVX		316,865		3,396,302		3,713,652		-		3,713,652		357		3,713,295		3,713,295		-		3,713,295
NVMIVZ		18,844		194,339		220,476		178		220,654		-		220,654		160,309		60,345		220,654
NVMLG1		3,192,000		26,601,200		27,132,001		62		27,132,063		-		27,132,063		26,688,368		443,695		27,132,063
NVMLG2		26,485		219,791		213,730		-		213,730		20		213,710		213,710		-		213,710
NVMM2		22,209,861		22,209,861		22,209,861		5,096		22,214,957		-		22,214,957		22,166,735		48,222		22,214,957
NVMMG1		8,379,917		77,418,805		52,542,081		5,158		52,547,239		-		52,547,239		52,055,288		491,951		52,547,239
NVMMG2		673,467		5,386,481		3,650,193		-		3,650,193		81		3,650,112		3,650,112		-		3,650,112
NVMMV2		5,133,333		44,382,103		39,680,665		-		39,680,665		1,833		39,678,832		39,579,143		99,689		39,678,832
NVNMO1		4,082,748		43,622,795		51,401,797		2,148		51,403,945		-		51,403,945		51,289,854		114,091		51,403,945
NVNMO2		42,223		490,225		519,767		-		519,767		29		519,738		519,738		-		519,738
NVNSR1		176,350		2,282,359		2,123,253		2,605		2,125,858		-		2,125,858		2,089,068		36,790		2,125,858
NVOLG1		22,317,987		430,127,064		470,909,522		374,032		471,283,554		-		471,283,554		464,558,852		6,724,702		471,283,554
NVOLG2		331,666		6,382,918		6,898,657		-		6,898,657		3,617		6,895,040		6,895,040		-		6,895,040
NVRE1		5,217,219		35,423,968		38,450,902		6,094		38,456,996		-		38,456,996		38,042,858		414,138		38,456,996
NVSIX2		377,499		3,284,390		2,986,019		-		2,986,019		174		2,985,845		2,985,845		-		2,985,845
NVSTB2		421,249		4,272,260		4,048,201		-		4,048,201		210		4,047,991		3,974,928		73,063		4,047,991
NVTIV3		80,358		831,733		949,834		-		949,834		185		949,649		916,551		33,098		949,649
SAM		150,803,478		150,803,478		150,803,478		380,296		151,183,774		-		151,183,774		149,211,495		1,972,279		151,183,774
SCF		3,680,642		67,046,883		67,061,301		1,957		67,063,258		-		67,063,258		66,430,801		632,457		67,063,258
SCF2		50,676		902,463		813,852		-		813,852		61		813,791		813,791		-		813,791
SCGF		1,267,868		20,143,447		17,395,152		1,048		17,396,200		-		17,396,200		17,320,056		76,144		17,396,200
SCGF2		16,798		191,285		192,667		-		192,667		291		192,376		192,376		-		192,376
SCVF		6,495,868		62,614,691		61,191,073		10,117		61,201,190		-		61,201,190		60,661,937		539,253		61,201,190
SCVF2		32,830		302,521		289,558		-		289,558		700		288,858		288,858		-		288,858
TRF		3,952,377		65,150,075		83,790,383		19,285		83,809,668		-		83,809,668		83,210,157		599,511		83,809,668
TRF2		10,714		251,750		225,630		-		225,630		24		225,606		225,606		-		225,606
AMCG		5,387		158,616		143,467		1,043		144,510		-		144,510		133,608		10,902		144,510
AMMCGS		40,268		1,046,067		922,933		23		922,956		-		922,956		917,829		5,127		922,956

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2023

Subaccount*,**	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity		Accumulation Units		Contracts in Payout		Contract Owners’ Equity
AMSRS		175,442		4,297,544		5,850,996		-		5,850,996		166		5,850,830		5,820,921		29,909		5,850,830
AMTB		829,141		8,602,212		7,992,921		3,646		7,996,567		-		7,996,567		7,862,735		133,832		7,996,567
PMVAAD		271,781		2,890,681		2,500,383		-		2,500,383		131		2,500,252		2,500,252		-		2,500,252
PMVEBD		57,699		646,006		608,722		-		608,722		58		608,664		608,664		-		608,664
PMVFAD		92,501		837,092		700,232		3,394		703,626		-		703,626		672,933		30,693		703,626
PMVIV		25,976		251,374		258,457		-		258,457		7		258,450		258,450		-		258,450
PMVLAD		1,408,973		14,249,727		13,526,143		-		13,526,143		969		13,525,174		13,500,643		24,531		13,525,174
PMVRRA		48,080		621,648		556,289		516		556,805		-		556,805		556,805		-		556,805
PMVSTA		425,223		4,331,543		4,350,027		-		4,350,027		93		4,349,934		4,349,934		-		4,349,934
PVEIB		85,199		2,305,443		2,455,440		-		2,455,440		43		2,455,397		2,444,050		11,347		2,455,397
PVIGIB		64,562		647,366		759,252		-		759,252		42		759,210		759,210		-		759,210
PVNOB		273		10,237		10,819		-		10,819		1		10,818		10,818		-		10,818
PVTIGB		37,340		516,261		570,182		-		570,182		30		570,152		570,152		-		570,152
ROCMC		30,043		280,990		275,490		-		275,490		311		275,179		275,179		-		275,179
TRHS2		494,059		24,342,393		25,616,952		9,057		25,626,009		-		25,626,009		25,552,644		73,365		25,626,009
TRMCG2		11,367		306,209		307,132		-		307,132		3		307,129		307,129		-		307,129
VWEM		732,970		9,284,241		6,750,650		-		6,750,650		356		6,750,294		6,736,011		14,283		6,750,294
VWHA		150,305		4,317,198		3,996,611		6,169		4,002,780		-		4,002,780		3,980,973		21,807		4,002,780
VWHAS		133,182		3,736,130		3,385,498		-		3,385,498		679		3,384,819		3,384,819		-		3,384,819
VRVDRA		19,748		397,887		383,898		-		383,898		44		383,854		383,854		-		383,854

* Represents abbreviation of investment name. For full investment name and related abbreviation, see note 1(b).

** For all subaccounts not included herein but listed as an investment option in note 1(b), Total Assets and Contract Owners’ Equity at the end of the period are $0. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2023, if applicable.

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	ALVGIB			ALVIVB			ALVPGB			ALVSVB			SVOF			WFVSCG			ACVI			ACVIG
Reinvested dividends	$	6,557			614			-			29,100			-			-			13,358			611,872
Mortality and expense risk charges (note 2)		(9,609	)		(1,297	)		(14,671	)		(50,146	)		(1,700	)		(47,940	)		(10,456	)		(448,159	)
Net investment income (loss)		(3,052	)		(683	)		(14,671	)		(21,046	)		(1,700	)		(47,940	)		2,902			163,713
Realized gain (loss) on investments		(1,184	)		13,155			17,268			75,349			1,210			(191,596	)		2,708			(1,735,030	)
Change in unrealized gain (loss) on investments		10,466			3,937			163,027			146,971			16,637			353,530			98,084			4,365,318
Net gain (loss) on investments		9,282			17,092			180,295			222,320			17,847			161,934			100,792			2,630,288
Reinvested capital gains		41,421			-			57,201			305,956			8,502			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	47,651			16,409			222,825			507,230			24,649			113,994			103,694			2,794,001
Investment Activity*:	ACVIG2			ACVIP2			ACVMV1			ACVMV2			ACVU1			ACVV			ACVV2			AMVBC4
Reinvested dividends	$	6,446			472,726			276,850			12,171			-			29,996			18,475			8,403
Mortality and expense risk charges (note 2)		(9,757	)		(165,166	)		(133,155	)		(9,674	)		(850	)		(13,876	)		(9,209	)		(4,677	)
Net investment income (loss)		(3,311	)		307,560			143,695			2,497			(850	)		16,120			9,266			3,726
Realized gain (loss) on investments		(71,543	)		(238,164	)		(227,833	)		861			1,503			37,261			(60,759	)		10,270
Change in unrealized gain (loss) on investments		99,382			248,674			(751,934	)		(42,789	)		12,278			(58,467	)		22,258			49,595
Net gain (loss) on investments		27,839			10,510			(979,767	)		(41,928	)		13,781			(21,206	)		(38,501	)		59,865
Reinvested capital gains		-			-			1,384,548			62,729			3,349			101,311			73,154			2,960
Net increase (decrease) in contract owners’ equity resulting from operations	$	24,528			318,070			548,476			23,298			16,280			96,225			43,919			66,551

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	AMVGS4			AMVGV2			AMVNW4			BRVED3			BRVHY3			BRVTR3			MLVGA3			DCAP
Reinvested dividends	$	1			12,556			4,684			96,783			365,558			134,135			429,240			383
Mortality and expense risk charges (note 2)		(39	)		(4,049	)		(2,690	)		(60,217	)		(66,239	)		(41,885	)		(196,506	)		(1,209	)
Net investment income (loss)		(38	)		8,507			1,994			36,566			299,319			92,250			232,734			(826	)
Realized gain (loss) on investments		(3	)		(16,182	)		2,052			(54,965	)		(131,269	)		(365,255	)		(103,705	)		(11,191	)
Change in unrealized gain (loss) on investments		411			721			27,902			278,519			451,891			427,037			1,726,840			16,290
Net gain (loss) on investments		408			(15,461	)		29,954			223,554			320,622			61,782			1,623,135			5,099
Reinvested capital gains		-			-			-			269,209			-			-			-			5,016
Net increase (decrease) in contract owners’ equity resulting from operations	$	370			(6,954	)		31,948			529,329			619,941			154,032			1,855,869			9,289
Investment Activity*:	DSIF			DSRG			DSRGS			DVMCSS			DVSCS			CLVHY2			DWVSVS			ETVFR
Reinvested dividends	$	3,910,937			248,067			67			6,829			175,902			20,583			14,904			635,226
Mortality and expense risk charges (note 2)		(2,985,578	)		(363,726	)		(269	)		(13,388	)		(181,930	)		(4,236	)		(26,738	)		(89,625	)
Net investment income (loss)		925,359			(115,659	)		(202	)		(6,559	)		(6,028	)		16,347			(11,834	)		545,601
Realized gain (loss) on investments		14,051,159			40,081			56			(28,871	)		79,658			(5,444	)		(42,345	)		(45,630	)
Change in unrealized gain (loss) on investments		35,507,198			2,939,671			1,078			190,991			1,192,177			29,121			132,035			236,663
Net gain (loss) on investments		49,558,357			2,979,752			1,134			162,120			1,271,835			23,677			89,690			191,033
Reinvested capital gains		10,172,895			3,983,511			1,506			40,112			918,263			-			99,897			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	60,656,611			6,847,604			2,438			195,673			2,184,070			40,024			177,753			736,634

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	FHIBS			FQB			FQBS			FVU2S			FB2			FC2			FCS			FEI2
Reinvested dividends	$	36,527			865,689			21,509			1,345			281,388			7,146			54,644			36,218
Mortality and expense risk charges (note 2)		(10,860	)		(368,379	)		(16,344	)		(1,424	)		(185,980	)		(24,155	)		(155,585	)		(37,967	)
Net investment income (loss)		25,667			497,310			5,165			(79	)		95,408			(17,009	)		(100,941	)		(1,749	)
Realized gain (loss) on investments		(18,324	)		(633,522	)		(10,308	)		(3,976	)		(200,419	)		(34,635	)		533,873			(19,263	)
Change in unrealized gain (loss) on investments		53,861			1,673,198			38,734			8,642			2,644,430			607,629			2,938,502			128,707
Net gain (loss) on investments		35,537			1,039,676			28,426			4,666			2,444,011			572,994			3,472,375			109,444
Reinvested capital gains		-			-			-			-			614,677			92,321			498,516			62,149
Net increase (decrease) in contract owners’ equity resulting from operations	$	61,204			1,536,986			33,591			4,587			3,154,096			648,306			3,869,950			169,844
Investment Activity*:	FEIS			FEMS2			FF10S			FF10S2			FF20S			FF20S2			FF30S			FF30S2
Reinvested dividends	$	2,413,661			29,150			188,181			467			272,540			2,817			192,589			1,520
Mortality and expense risk charges (note 2)		(1,502,950	)		(15,883	)		(60,535	)		-			(96,890	)		(1,851	)		(88,737	)		(1,458	)
Net investment income (loss)		910,711			13,267			127,646			467			175,650			966			103,852			62
Realized gain (loss) on investments		550,695			(20,499	)		(233,271	)		(704	)		(90,958	)		1,945			(17,135	)		(19	)
Change in unrealized gain (loss) on investments		6,680,000			104,125			79,867			303			793,054			5,630			937,327			7,859
Net gain (loss) on investments		7,230,695			83,626			(153,404	)		(401	)		702,096			7,575			920,192			7,840
Reinvested capital gains		3,822,516			-			411,026			961			68,293			679			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	11,963,922			96,893			385,268			1,027			946,039			9,220			1,024,044			7,902

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	FG2			FGI2			FGOS			FGS			FHIS			FIGBS			FMC2			FMCS
Reinvested dividends	$	120			40,975			-			68,936			2,326,331			552,271			3,496			83,259
Mortality and expense risk charges (note 2)		(53,355	)		(29,815	)		(18,261	)		(2,019,609	)		(378,673	)		(247,349	)		(15,852	)		(182,908	)
Net investment income (loss)		(53,235	)		11,160			(18,261	)		(1,950,673	)		1,947,658			304,922			(12,356	)		(99,649	)
Realized gain (loss) on investments		6,996			(11,279	)		33,959			6,766,810			(1,925,867	)		(481,866	)		11,014			(115,984	)
Change in unrealized gain (loss) on investments		788,771			334,802			572,950			41,592,083			2,159,558			1,221,677			89,266			1,900,269
Net gain (loss) on investments		795,767			323,523			606,909			48,358,893			233,691			739,811			100,280			1,784,285
Reinvested capital gains		143,562			108,064			-			8,678,922			-			-			26,225			452,860
Net increase (decrease) in contract owners’ equity resulting from operations	$	886,094			442,747			588,648			55,087,142			2,181,349			1,044,733			114,149			2,137,496
Investment Activity*:	FNRS2			FO2			FOS			FRESS2			FVFRHI			FVSS			FVSS2			FTVDM2
Reinvested dividends	$	311,807			5,923			184,554			22,210			18,093			82,503			3,441			46,589
Mortality and expense risk charges (note 2)		(140,424	)		(13,043	)		(216,052	)		(7,392	)		(871	)		(85,842	)		(5,646	)		(24,396	)
Net investment income (loss)		171,383			(7,120	)		(31,498	)		14,818			17,222			(3,339	)		(2,205	)		22,193
Realized gain (loss) on investments		(73,639	)		5,178			415,393			(48,134	)		(1,404	)		(177,966	)		6,277			(96,055	)
Change in unrealized gain (loss) on investments		(621,910	)		123,538			3,038,873			97,225			(7,799	)		1,197,098			41,229			308,790
Net gain (loss) on investments		(695,549	)		128,716			3,454,266			49,091			(9,203	)		1,019,132			47,506			212,735
Reinvested capital gains		-			1,985			51,707			32,729			-			293,652			14,372			1,690
Net increase (decrease) in contract owners’ equity resulting from operations	$	(524,166	)		123,581			3,474,475			96,638			8,019			1,309,445			59,673			236,618

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	FTVFA2			FTVGI2			FTVIS2			FTVRD2			FTVSV2			TIF2			GVGMNS			GVMSAS
Reinvested dividends	$	37,788			-			1,214,778			4,419			36,119			78,563			1,614			3,913
Mortality and expense risk charges (note 2)		(28,740	)		(93,179	)		(271,469	)		(6,473	)		(76,562	)		(27,224	)		(723	)		(588	)
Net investment income (loss)		9,048			(93,179	)		943,309			(2,054	)		(40,443	)		51,339			891			3,325
Realized gain (loss) on investments		(139,888	)		(482,707	)		(17,607	)		8,931			(268,491	)		(37,747	)		(152	)		(202	)
Change in unrealized gain (loss) on investments		405,567			685,561			(743,909	)		(9,521	)		700,634			429,482			4,585			808
Net gain (loss) on investments		265,679			202,854			(761,516	)		(590	)		432,143			391,735			4,433			606
Reinvested capital gains		43,863			-			1,472,700			50,714			391,565			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	318,590			109,675			1,654,493			48,070			783,265			443,074			5,324			3,931
Investment Activity*:	RVARS			SBLD			SBLJ			SBLN			SBLO			SBLP			SBLQ			SBLV
Reinvested dividends	$	35,818			9,384			1,962			7,074			3,413			15,367			7,244			20,938
Mortality and expense risk charges (note 2)		(12,769	)		(3,148	)		(1,413	)		(6,291	)		(2,530	)		(2,861	)		(6,218	)		(15,700	)
Net investment income (loss)		23,049			6,236			549			783			883			12,506			1,026			5,238
Realized gain (loss) on investments		(31,426	)		(1,244	)		(13,125	)		(1,524	)		(512	)		(9,255	)		(1,182	)		(8,219	)
Change in unrealized gain (loss) on investments		49,331			28,685			40,905			65,771			(4,439	)		23,686			15,008			19,031
Net gain (loss) on investments		17,905			27,441			27,780			64,247			(4,951	)		14,431			13,826			10,812
Reinvested capital gains		-			-			-			4,338			18,548			-			35,335			98,218
Net increase (decrease) in contract owners’ equity resulting from operations	$	40,954			33,677			28,329			69,368			14,480			26,937			50,187			114,268

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	SBLX			SBLY			ACC2			ACEG			AVCE2			AVGI			IVHS			IVKEI1
Reinvested dividends	$	825			1,965			36,654			-			1,501			18			-			7,267
Mortality and expense risk charges (note 2)		(652	)		(1,604	)		(43,173	)		(173	)		(6,647	)		(36	)		(4,773	)		(4,319	)
Net investment income (loss)		173			361			(6,519	)		(173	)		(5,146	)		(18	)		(4,773	)		2,948
Realized gain (loss) on investments		(9,253	)		(11,933	)		(18,218	)		(198	)		(10,756	)		(7	)		(4,719	)		(12,952	)
Change in unrealized gain (loss) on investments		19,601			53,460			(12,962	)		5,121			72,816			427			16,054			20,292
Net gain (loss) on investments		10,348			41,527			(31,180	)		4,923			62,060			420			11,335			7,340
Reinvested capital gains		-			-			263,973			350			7,456			57			-			19,030
Net increase (decrease) in contract owners’ equity resulting from operations	$	10,521			41,888			226,274			5,100			64,370			459			6,562			29,318
Investment Activity*:	IVMCC2			IVRE			OVAG			OVAG2			OVGI			OVGR			OVGS			OVGSS
Reinvested dividends	$	61			2,152			-			-			2,433			-			163,530			-
Mortality and expense risk charges (note 2)		(1,493	)		(1,609	)		(526,540	)		(15,098	)		(5,178	)		(38,184	)		(827,000	)		(10,441	)
Net investment income (loss)		(1,432	)		543			(526,540	)		(15,098	)		(2,745	)		(38,184	)		(663,470	)		(10,441	)
Realized gain (loss) on investments		(5,985	)		(2,337	)		(1,540,620	)		(130,722	)		(27,283	)		(136,049	)		(1,303,836	)		(2,246	)
Change in unrealized gain (loss) on investments		24,499			12,925			7,509,313			272,214			63,727			1,183,662			14,411,062			108,706
Net gain (loss) on investments		18,514			10,588			5,968,693			141,492			36,444			1,047,613			13,107,226			106,460
Reinvested capital gains		-			-			-			-			19,782			-			8,269,685			64,776
Net increase (decrease) in contract owners’ equity resulting from operations	$	17,082			11,131			5,442,153			126,394			53,481			1,009,429			20,713,441			160,795

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	OVIGS			OVSB			OVSBS			OVSC			OVSCS			WRASP			WRBDP			WRBP
Reinvested dividends	$	2,600			-			-			72,506			646			924,080			654,461			267
Mortality and expense risk charges (note 2)		(9,385	)		(21,132	)		(9,002	)		(69,352	)		(945	)		(490,993	)		(260,854	)		(421	)
Net investment income (loss)		(6,785	)		(21,132	)		(9,002	)		3,154			(299	)		433,087			393,607			(154	)
Realized gain (loss) on investments		(80,551	)		5,235			1,408			(38,368	)		(1,879	)		(972,914	)		(596,287	)		(3,268	)
Change in unrealized gain (loss) on investments		259,715			147,493			39,157			1,014,427			12,976			5,827,529			1,553,449			8,048
Net gain (loss) on investments		179,164			152,728			40,565			976,059			11,097			4,854,615			957,162			4,780
Reinvested capital gains		-			-			-			-			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	172,379			131,596			31,563			979,213			10,798			5,287,702			1,350,769			4,626
Investment Activity*:	WRCEP			WRDIV			WRENG			WRGNR			WRGP			WRHIP			WRI2P			WRIP
Reinvested dividends	$	255,244			123,030			52,940			66,359			-			1,815,149			120,539			13,054
Mortality and expense risk charges (note 2)		(722,336	)		(77,593	)		(18,486	)		(28,465	)		(1,026,320	)		(314,836	)		(78,759	)		(170,790	)
Net investment income (loss)		(467,092	)		45,437			34,454			37,894			(1,026,320	)		1,500,313			41,780			(157,736	)
Realized gain (loss) on investments		684,927			(755,752	)		(18,106	)		(13,366	)		(2,735,603	)		(686,565	)		(30,380	)		(60,608	)
Change in unrealized gain (loss) on investments		6,675,301			1,441,631			32,746			(6,655	)		23,160,657			2,077,992			992,339			(308,389	)
Net gain (loss) on investments		7,360,228			685,879			14,640			(20,021	)		20,425,054			1,391,427			961,959			(368,997	)
Reinvested capital gains		6,407,683			114,242			-			-			9,327,474			-			-			3,193,783
Net increase (decrease) in contract owners’ equity resulting from operations	$	13,300,819			845,558			49,094			17,873			28,726,208			2,891,740			1,003,739			2,667,050

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	WRLTBP			WRMCG			WRRESP			WRSCP			WRSCV			WRSTP			WRVP			JABS
Reinvested dividends	$	74,203			-			82,145			-			9,525			-			26			30,490
Mortality and expense risk charges (note 2)		(47,313	)		(172,714	)		(44,249	)		(303,914	)		(50,087	)		(571,020	)		(20	)		(13,877	)
Net investment income (loss)		26,890			(172,714	)		37,896			(303,914	)		(40,562	)		(571,020	)		6			16,613
Realized gain (loss) on investments		(49,345	)		(690,842	)		(247,034	)		(2,227,976	)		(355,179	)		(870,911	)		(283	)		313
Change in unrealized gain (loss) on investments		177,987			1,662,149			143,259			1,240,269			552,382			15,021,765			134			176,944
Net gain (loss) on investments		128,642			971,307			(103,775	)		(987,707	)		197,203			14,150,854			(149	)		177,257
Reinvested capital gains		-			1,896,440			379,130			4,369,712			468,706			2,820,568			255			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	155,532			2,695,033			313,251			3,078,091			625,347			16,400,402			112			193,870
Investment Activity*:	JACAS			JAFBS			JAGSEI			JAGTS			JAIGS			LZREMS			LJPMVS			LOVTRC
Reinvested dividends	$	101,354			82,574			126			-			459,191			55,925			201,457			40,021
Mortality and expense risk charges (note 2)		(929,033	)		(23,268	)		(134	)		(472,870	)		(361,694	)		(12,561	)		(81,030	)		(9,864	)
Net investment income (loss)		(827,679	)		59,306			(8	)		(472,870	)		97,497			43,364			120,427			30,157
Realized gain (loss) on investments		1,835,683			(43,627	)		(656	)		349,501			281,698			(3,576	)		12,759			(69,223	)
Change in unrealized gain (loss) on investments		25,654,827			76,052			1,340			17,496,718			2,563,029			195,621			941,758			87,007
Net gain (loss) on investments		27,490,510			32,425			684			17,846,219			2,844,727			192,045			954,517			17,784
Reinvested capital gains		-			-			-			-			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	26,662,831			91,731			676			17,373,349			2,942,224			235,409			1,074,944			47,941

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	M2IGSS			MMCGSC			MNDSC			MV2RIS			MV3MVS			MVFSC			MVIGSC			MVIVSC
Reinvested dividends	$	108			-			-			2,227			5,049			315,004			3,825			62,187
Mortality and expense risk charges (note 2)		(2,750	)		(7,485	)		(26,256	)		(2,963	)		(3,325	)		(264,836	)		(4,103	)		(149,402	)
Net investment income (loss)		(2,642	)		(7,485	)		(26,256	)		(736	)		1,724			50,168			(278	)		(87,215	)
Realized gain (loss) on investments		6,191			(6,192	)		(167,702	)		(5,253	)		(7,229	)		(291,083	)		869			(88,626	)
Change in unrealized gain (loss) on investments		28,980			78,052			464,304			37,180			31,149			15,240			33,259			1,178,326
Net gain (loss) on investments		35,171			71,860			296,602			31,927			23,920			(275,843	)		34,128			1,089,700
Reinvested capital gains		11,648			6,304			-			-			11,229			1,578,971			13,419			995,573
Net increase (decrease) in contract owners’ equity resulting from operations	$	44,177			70,679			270,346			31,191			36,873			1,353,296			47,269			1,998,058
Investment Activity*:	MSEM			MSGI2			MSVEG2			MSVMG			MSVRE			DTRTFB			EIF			GBF
Reinvested dividends	$	180,984			34,551			-			-			8,780			18,240			309,916			1,201,738
Mortality and expense risk charges (note 2)		(23,610	)		(15,941	)		(12,319	)		(45	)		(6,460	)		(5,876	)		(193,386	)		(506,112	)
Net investment income (loss)		157,374			18,610			(12,319	)		(45	)		2,320			12,364			116,530			695,626
Realized gain (loss) on investments		(130,554	)		(76,656	)		(200,271	)		(51,061	)		(5,816	)		(5,912	)		364,838			(930,579	)
Change in unrealized gain (loss) on investments		185,369			(114,405	)		439,510			54,842			51,750			21,349			(117,943	)		1,795,807
Net gain (loss) on investments		54,815			(191,061	)		239,239			3,781			45,934			15,437			246,895			865,228
Reinvested capital gains		-			214,623			-			-			-			-			1,371,322			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	212,189			42,172			226,920			3,736			48,254			27,801			1,734,747			1,560,854

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	GBF2			GEM			GEM2			GIG			GVAAA2			GVABD2			GVAGG2			GVAGI2
Reinvested dividends	$	16,328			123,630			2,039			306,896			-			-			-			-
Mortality and expense risk charges (note 2)		(12,796	)		(82,121	)		(2,622	)		(123,295	)		(866,496	)		(95,765	)		(204,594	)		(228,548	)
Net investment income (loss)		3,532			41,509			(583	)		183,601			(866,496	)		(95,765	)		(204,594	)		(228,548	)
Realized gain (loss) on investments		(9,409	)		(28,174	)		6			(155,114	)		435,055			(192,793	)		561,949			199,302
Change in unrealized gain (loss) on investments		21,081			199,028			4,046			2,082,920			1,586,370			559,710			1,268,055			2,643,572
Net gain (loss) on investments		11,672			170,854			4,052			1,927,806			2,021,425			366,917			1,830,004			2,842,874
Reinvested capital gains		-			-			-			-			7,842,851			-			1,813,753			1,795,709
Net increase (decrease) in contract owners’ equity resulting from operations	$	15,204			212,363			3,469			2,111,407			8,997,780			271,152			3,439,163			4,410,035
Investment Activity*:	GVAGR2			GVDMA			GVDMC			GVEX1			GVEX2			GVIDA			GVIDC			GVIDM
Reinvested dividends	$	-			-			-			15,172			398,932			-			-			-
Mortality and expense risk charges (note 2)		(434,603	)		(684,960	)		(260,564	)		(11,333	)		(372,536	)		(303,310	)		(162,343	)		(1,067,739	)
Net investment income (loss)		(434,603	)		(684,960	)		(260,564	)		3,839			26,396			(303,310	)		(162,343	)		(1,067,739	)
Realized gain (loss) on investments		1,130,953			(1,773,396	)		(1,388,954	)		(403,468	)		(8,436,123	)		(850,329	)		(453,109	)		(6,499,593	)
Change in unrealized gain (loss) on investments		6,804,958			10,304,368			3,681,239			607,025			15,956,326			5,137,297			1,481,961			18,700,317
Net gain (loss) on investments		7,935,911			8,530,972			2,292,285			203,557			7,520,203			4,286,968			1,028,852			12,200,724
Reinvested capital gains		4,171,181			594,483			-			1,074			44,597			293,187			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	11,672,489			8,440,495			2,031,721			208,470			7,591,196			4,276,845			866,509			11,132,985

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	GVIX8			HIBF			IDPG2			IDPGI2			MCIF			MCIF2			MSBF			NAMAA2
Reinvested dividends	$	97,394			1,082,745			-			-			774,502			21,587			1,286,569			-
Mortality and expense risk charges (note 2)		(49,869	)		(206,682	)		(5,365	)		(628	)		(715,121	)		(38,246	)		(266,125	)		(22,001	)
Net investment income (loss)		47,525			876,063			(5,365	)		(628	)		59,381			(16,659	)		1,020,444			(22,001	)
Realized gain (loss) on investments		50,652			(495,800	)		(29,619	)		(62	)		(2,352,134	)		(200,635	)		(250,058	)		(67,667	)
Change in unrealized gain (loss) on investments		552,844			1,688,703			95,604			6,960			7,781,549			374,842			(338,580	)		211,028
Net gain (loss) on investments		603,496			1,192,903			65,985			6,898			5,429,415			174,207			(588,638	)		143,361
Reinvested capital gains		-			-			-			-			3,320,711			109,745			1,255,592			154,073
Net increase (decrease) in contract owners’ equity resulting from operations	$	651,021			2,068,966			60,620			6,270			8,809,507			267,293			1,687,398			275,433
Investment Activity*:	NAMGI2			NCPG2			NCPGI2			NVAMV1			NVAMV2			NVAMVX			NVAMVZ			NVCBD1
Reinvested dividends	$	-			-			-			1,707,140			15,690			288,778			28,442			208,123
Mortality and expense risk charges (note 2)		(3,441	)		(1,504	)		(2,224	)		(1,117,433	)		(18,487	)		(175,968	)		(27,254	)		(87,703	)
Net investment income (loss)		(3,441	)		(1,504	)		(2,224	)		589,707			(2,797	)		112,810			1,188			120,420
Realized gain (loss) on investments		1,195			(69	)		(30	)		1,145,287			(10,840	)		551,307			60,715			(606,589	)
Change in unrealized gain (loss) on investments		47,333			14,044			22,451			(22,754	)		23,410			(340,982	)		(39,906	)		769,653
Net gain (loss) on investments		48,528			13,975			22,421			1,122,533			12,570			210,325			20,809			163,064
Reinvested capital gains		23,286			2,365			-			5,496,153			55,379			846,848			97,672			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	68,373			14,836			20,197			7,208,393			65,152			1,169,983			119,669			283,484

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	NVCBD2			NVCCA2			NVCCN2			NVCMA2			NVCMC2			NVCMD2			NVCRA2			NVCRB2
Reinvested dividends	$	4,974			-			-			-			-			-			-			-
Mortality and expense risk charges (note 2)		(3,529	)		(43,595	)		(68,978	)		(57,636	)		(43,590	)		(114,881	)		(34,024	)		(98,780	)
Net investment income (loss)		1,445			(43,595	)		(68,978	)		(57,636	)		(43,590	)		(114,881	)		(34,024	)		(98,780	)
Realized gain (loss) on investments		(588	)		2,362			(14,776	)		15,573			(22,100	)		(3,287	)		64,839			(26,468	)
Change in unrealized gain (loss) on investments		4,164			289,181			381,852			419,970			274,598			707,246			306,285			675,612
Net gain (loss) on investments		3,576			291,543			367,076			435,543			252,498			703,959			371,124			649,144
Reinvested capital gains		-			276,671			117,937			276,333			192,450			598,560			189,477			415,812
Net increase (decrease) in contract owners’ equity resulting from operations	$	5,021			524,619			416,035			654,240			401,358			1,187,638			526,577			966,176
Investment Activity*:	NVDBL2			NVDCA2			NVFIII			NVGEII			NVIE6			NVLCP1			NVLCP2			NVLCPP
Reinvested dividends	$	-			-			8,047			9,739			11,768			34,525			51,253			292,022
Mortality and expense risk charges (note 2)		(63,534	)		(25,570	)		(2,951	)		(4,585	)		(2,328	)		(10,194	)		(18,022	)		(86,952	)
Net investment income (loss)		(63,534	)		(25,570	)		5,096			5,154			9,440			24,331			33,231			205,070
Realized gain (loss) on investments		(224,885	)		(404,093	)		(5,604	)		1,995			1,057			(39,188	)		(84,275	)		(378,863	)
Change in unrealized gain (loss) on investments		903,473			738,271			15,597			85,755			29,556			69,843			148,182			687,404
Net gain (loss) on investments		678,588			334,178			9,993			87,750			30,613			30,655			63,907			308,541
Reinvested capital gains		-			2,195			-			-			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	615,054			310,803			15,089			92,904			40,053			54,986			97,138			513,611

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	NVMGA2			NVMIG1			NVMIVX			NVMIVZ			NVMLG1			NVMLG2			NVMM2			NVMMG1
Reinvested dividends	$	-			411,696			97,508			5,040			1,300,826			14,005			883,866			-
Mortality and expense risk charges (note 2)		(1,898	)		(242,865	)		(40,260	)		(3,626	)		(288,903	)		(4,890	)		(209,552	)		(568,598	)
Net investment income (loss)		(1,898	)		168,831			57,248			1,414			1,011,923			9,115			674,314			(568,598	)
Realized gain (loss) on investments		662			(1,879,867	)		118,832			3,293			(1,089,812	)		(20,069	)		-			(5,366,476	)
Change in unrealized gain (loss) on investments		17,606			4,738,805			312,416			22,326			6,019,288			63,136			-			14,968,382
Net gain (loss) on investments		18,268			2,858,938			431,248			25,619			4,929,476			43,067			-			9,601,906
Reinvested capital gains		-			-			-			-			1,256,322			13,526			2			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	16,370			3,027,769			488,496			27,033			7,197,721			65,708			674,316			9,033,308
Investment Activity*:	NVMMG2			NVMMV2			NVNMO1			NVNMO2			NVNSR1			NVOLG1			NVOLG2			NVRE1
Reinvested dividends	$	-			583,780			245,010			2,031			6,489			6,313,737			77,799			852,197
Mortality and expense risk charges (note 2)		(48,214	)		(451,432	)		(511,582	)		(5,282	)		(22,904	)		(4,917,187	)		(119,990	)		(424,655	)
Net investment income (loss)		(48,214	)		132,348			(266,572	)		(3,251	)		(16,415	)		1,396,550			(42,191	)		427,542
Realized gain (loss) on investments		(749,594	)		(1,213,321	)		737,068			(13,591	)		(73,304	)		10,587,609			194,900			732,157
Change in unrealized gain (loss) on investments		1,455,200			(1,926,312	)		5,662,741			77,772			216,432			79,366,210			1,145,683			2,140,655
Net gain (loss) on investments		705,606			(3,139,633	)		6,399,809			64,181			143,128			89,953,819			1,340,583			2,872,812
Reinvested capital gains		-			5,783,812			3,503,674			37,471			230,480			-			-			859,510
Net increase (decrease) in contract owners’ equity resulting from operations	$	657,392			2,776,527			9,636,911			98,401			357,193			91,350,369			1,298,392			4,159,864

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	NVSIX2			NVSTB2			NVTIV3			SAM			SCF			SCF2			SCGF			SCGF2
Reinvested dividends	$	31,158			143,286			23,511			7,319,248			318,907			2,648			-			-
Mortality and expense risk charges (note 2)		(30,763	)		(48,394	)		(11,349	)		(1,749,096	)		(703,038	)		(14,051	)		(192,404	)		(3,337	)
Net investment income (loss)		395			94,892			12,162			5,570,152			(384,131	)		(11,403	)		(192,404	)		(3,337	)
Realized gain (loss) on investments		(35,961	)		(78,481	)		14,342			-			(1,739,553	)		(17,724	)		(596,313	)		(3,374	)
Change in unrealized gain (loss) on investments		406,381			165,737			104,270			-			9,483,973			110,404			3,338,123			32,582
Net gain (loss) on investments		370,420			87,256			118,612			-			7,744,420			92,680			2,741,810			29,208
Reinvested capital gains		17,063			-			-			15			369,166			4,922			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	387,878			182,148			130,774			5,570,167			7,729,455			86,199			2,549,406			25,871
Investment Activity*:	SCVF			SCVF2			TRF			TRF2			AMCG			AMMCGS			AMSRS			AMTB
Reinvested dividends	$	241,164			561			1,110,083			2,440			-			-			18,750			372,947
Mortality and expense risk charges (note 2)		(630,737	)		(5,670	)		(897,473	)		(4,087	)		(2,301	)		(10,309	)		(60,190	)		(98,983	)
Net investment income (loss)		(389,573	)		(5,109	)		212,610			(1,647	)		(2,301	)		(10,309	)		(41,440	)		273,964
Realized gain (loss) on investments		(2,793,290	)		(17,103	)		7,365,435			(756	)		879			(119,415	)		146,763			(175,832	)
Change in unrealized gain (loss) on investments		9,136,590			47,155			(10,049,462	)		(6,289	)		21,715			254,706			1,060,771			280,893
Net gain (loss) on investments		6,343,300			30,052			(2,684,027	)		(7,045	)		22,594			135,291			1,207,534			105,061
Reinvested capital gains		2,767,421			13,909			8,296,937			21,549			-			-			88,476			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	8,721,148			38,852			5,825,520			12,857			20,293			124,982			1,254,570			379,025

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	PMVAAD			PMVEBD			PMVFAD			PMVIV			PMVLAD			PMVRRA			PMVSTA			PVEIB
Reinvested dividends	$	69,278			35,559			16,484			5,771			498,666			16,410			196,513			41,470
Mortality and expense risk charges (note 2)		(26,573	)		(6,840	)		(7,889	)		(1,021	)		(164,425	)		(6,089	)		(50,195	)		(21,805	)
Net investment income (loss)		42,705			28,719			8,595			4,750			334,241			10,321			146,318			19,665
Realized gain (loss) on investments		(23,055	)		(55,000	)		(50,338	)		(17	)		(281,817	)		(7,096	)		(41,413	)		(71,210	)
Change in unrealized gain (loss) on investments		146,828			89,218			75,799			7,083			456,210			12,068			96,840			229,913
Net gain (loss) on investments		123,773			34,218			25,461			7,066			174,393			4,972			55,427			158,703
Reinvested capital gains		-			-			-			-			-			-			-			116,246
Net increase (decrease) in contract owners’ equity resulting from operations	$	166,478			62,937			34,056			11,816			508,634			15,293			201,745			294,614
Investment Activity*:	PVIGIB			PVNOB			PVTIGB			ROCMC			TRHS2			TRMCG2			VWEM			VWHA
Reinvested dividends	$	9,978			-			137			-			-			-			242,751			118,353
Mortality and expense risk charges (note 2)		(7,353	)		(12	)		(3,944	)		(2,890	)		(300,999	)		(1,032	)		(76,627	)		(45,221	)
Net investment income (loss)		2,625			(12	)		(3,807	)		(2,890	)		(300,999	)		(1,032	)		166,124			73,132
Realized gain (loss) on investments		(2,801	)		1			27,106			(4,623	)		1,507,389			(51	)		(717,944	)		(52,489	)
Change in unrealized gain (loss) on investments		114,154			582			49,333			50,753			(1,840,374	)		923			1,127,885			(231,201	)
Net gain (loss) on investments		111,353			583			76,439			46,130			(332,985	)		872			409,941			(283,690	)
Reinvested capital gains		-			-			-			-			952,164			19,206			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	113,978			571			72,632			43,240			318,180			19,046			576,065			(210,558	)

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2023

Investment Activity*:	VWHAS			VRVDRA
Reinvested dividends	$	111,223			4,853
Mortality and expense risk charges (note 2)		(51,544	)		(3,620	)
Net investment income (loss)		59,679			1,233
Realized gain (loss) on investments		(188,747	)		(65,051	)
Change in unrealized gain (loss) on investments		(210,714	)		87,331
Net gain (loss) on investments		(399,461	)		22,280
Reinvested capital gains		-			2,136
Net increase (decrease) in contract owners’ equity resulting from operations	$	(339,782	)		25,649

* For all subaccounts not included herein but listed as an investment option in note 1(b), there was no activity during the period. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2023, if applicable.

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	ALVGIB						ALVIVB						ALVPGB						ALVSVB
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(3,052	)		(4,075	)		(683	)		1,381			(14,671	)		(14,872	)		(21,046	)		(23,879	)
Realized gain (loss) on investments		(1,184	)		3,870			13,155			(11,948	)		17,268			16,714			75,349			140,167
Change in unrealized gain (loss) on investments		10,466			(119,911	)		3,937			(1,763	)		163,027			(432,137	)		146,971			(1,624,390	)
Reinvested capital gains		41,421			84,846			-			-			57,201			107,309			305,956			641,946
Net increase (decrease) in contract owners’ equity resulting from operations		47,651			(35,270	)		16,409			(12,330	)		222,825			(322,986	)		507,230			(866,156	)
Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			-			-			(1	)		-			37,153			22,634
Transfers between funds		(571	)		(2,504	)		(48,934	)		129,453			(9,678	)		76,520			(21,894	)		(218,697	)
Redemptions (notes 2, 3, and 4)		(20,051	)		(33,589	)		(20,661	)		(21,409	)		(82,667	)		(58,116	)		(548,761	)		(548,319	)
Adjustments to maintain reserves		(40	)		(6	)		(21	)		(1	)		(67	)		49			48			(130	)
Net equity transactions		(20,662	)		(36,099	)		(69,616	)		108,043			(92,413	)		18,453			(533,454	)		(744,512	)
Net change in contract owners’ equity		26,989			(71,369	)		(53,207	)		95,713			130,412			(304,533	)		(26,224	)		(1,610,668	)
Contract owners’ equity at beginning of period		507,874			579,243			127,582			31,869			734,009			1,038,542			3,925,848			5,536,516
Contract owners’ equity at end of period	$	534,863			507,874			74,375			127,582			864,421			734,009			3,899,624			3,925,848
CHANGE IN UNITS:
Beginning units		17,177			18,343			15,190			3,235			19,409			18,926			133,341			157,367
Units purchased		48			38			29,899			17,326			1			3,781			26,238			13,806
Units redeemed		(714	)		(1,204	)		(37,292	)		(5,371	)		(2,076	)		(3,298	)		(43,556	)		(37,832	)
Ending units		16,511			17,177			7,797			15,190			17,334			19,409			116,023			133,341

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	SVOF						WFVSCG						ACVI						ACVIG
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(1,700	)		(2,330	)		(47,940	)		(61,851	)		2,902			3,770			163,713			292,011
Realized gain (loss) on investments		1,210			(1,145	)		(191,596	)		(69,592	)		2,708			431			(1,735,030	)		(573,893	)
Change in unrealized gain (loss) on investments		16,637			(62,444	)		353,530			(3,512,579	)		98,084			(503,307	)		4,365,318			(18,390,270	)
Reinvested capital gains		8,502			27,854			-			924,593			-			158,145			-			11,488,887
Net increase (decrease) in contract owners’ equity resulting from operations		24,649			(38,065	)		113,994			(2,719,429	)		103,694			(340,961	)		2,794,001			(7,183,265	)
Equity transactions:
Purchase payments received from contract owners (note 4)		11,375			143			17,873			37,686			21,875			14,778			275,240			279,681
Transfers between funds		(221	)		(262	)		(97,101	)		(452,455	)		(15,508	)		(39,850	)		(895,655	)		(1,252,780	)
Redemptions (notes 2, 3, and 4)		(48,077	)		(18,362	)		(535,991	)		(522,875	)		(94,968	)		(57,114	)		(4,249,213	)		(3,714,026	)
Adjustments to maintain reserves		1,947			(1,350	)		(107	)		354			1,041			3,544			11,425			14,913
Net equity transactions		(34,976	)		(19,831	)		(615,326	)		(937,290	)		(87,560	)		(78,642	)		(4,858,203	)		(4,672,212	)
Net change in contract owners’ equity		(10,327	)		(57,896	)		(501,332	)		(3,656,719	)		16,134			(419,603	)		(2,064,202	)		(11,855,477	)
Contract owners’ equity at beginning of period		119,584			177,480			4,451,921			8,108,640			929,749			1,349,352			42,218,968			54,074,445
Contract owners’ equity at end of period	$	109,257			119,584			3,950,589			4,451,921			945,883			929,749			40,154,766			42,218,968
CHANGE IN UNITS:
Beginning units		2,912			3,321			108,871			128,619			37,602			41,207			1,086,118			1,201,087
Units purchased		321			7			3,112			15,924			1,177			975			31,324			31,141
Units redeemed		(1,242	)		(416	)		(17,808	)		(35,672	)		(4,453	)		(4,580	)		(156,822	)		(146,110	)
Ending units		1,991			2,912			94,175			108,871			34,326			37,602			960,620			1,086,118

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	ACVIG2						ACVIP2						ACVMV1						ACVMV2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(3,311	)		(2,239	)		307,560			677,328			143,695			150,955			2,497			2,269
Realized gain (loss) on investments		(71,543	)		(717	)		(238,164	)		10,973			(227,833	)		129,689			861			9,065
Change in unrealized gain (loss) on investments		99,382			(244,230	)		248,674			(3,531,165	)		(751,934	)		(2,433,438	)		(42,789	)		(111,157	)
Reinvested capital gains		-			148,713			-			97,304			1,384,548			1,782,800			62,729			80,239
Net increase (decrease) in contract owners’ equity resulting from operations		24,528			(98,473	)		318,070			(2,745,560	)		548,476			(369,994	)		23,298			(19,584	)
Equity transactions:
Purchase payments received from contract owners (note 4)		-			7			48,445			100,347			63,956			53,745			-			(207	)
Transfers between funds		3,932			(2,942	)		(857,348	)		(375,764	)		(514,841	)		184,809			-			-
Redemptions (notes 2, 3, and 4)		(200,178	)		(40,126	)		(1,527,617	)		(1,697,065	)		(1,344,674	)		(1,090,820	)		(29,694	)		(36,320	)
Adjustments to maintain reserves		(3,055	)		(1,106	)		32,676			49,639			2,201			(470	)		2			249
Net equity transactions		(199,301	)		(44,167	)		(2,303,844	)		(1,922,843	)		(1,793,358	)		(852,736	)		(29,692	)		(36,278	)
Net change in contract owners’ equity		(174,773	)		(142,640	)		(1,985,774	)		(4,668,403	)		(1,244,882	)		(1,222,730	)		(6,394	)		(55,862	)
Contract owners’ equity at beginning of period		565,821			708,461			15,612,967			20,281,370			12,904,552			14,127,282			579,762			635,624
Contract owners’ equity at end of period	$	391,048			565,821			13,627,193			15,612,967			11,659,670			12,904,552			573,368			579,762
CHANGE IN UNITS:
Beginning units		20,656			22,034			1,033,270			1,159,486			370,186			396,258			-			-
Units purchased		172			84			32,878			146,574			17,225			38,105			-			-
Units redeemed		(6,951	)		(1,462	)		(188,812	)		(272,790	)		(68,994	)		(64,177	)		-			-
Ending units		13,877			20,656			877,336			1,033,270			318,417			370,186			-			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	ACVU1						ACVV						ACVV2						AMVBC4
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(850	)		(857	)		16,120			13,346			9,266			7,289			3,726			3,682
Realized gain (loss) on investments		1,503			1,607			37,261			97,479			(60,759	)		(68,556	)		10,270			2,349
Change in unrealized gain (loss) on investments		12,278			(27,082	)		(58,467	)		(240,649	)		22,258			(11,474	)		49,595			3,422
Reinvested capital gains		3,349			5,187			101,311			118,854			73,154			65,727			2,960			-
Net increase (decrease) in contract owners’ equity resulting from operations		16,280			(21,145	)		96,225			(10,970	)		43,919			(7,014	)		66,551			9,453
Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			8,315			7,531			2,703			7,221			(462	)		15,987
Transfers between funds		-			-			47,872			18,451			(79,533	)		652,656			343,996			254,600
Redemptions (notes 2, 3, and 4)		(1,796	)		(2,429	)		(184,980	)		(283,135	)		(30,528	)		(20,637	)		(27,650	)		(1,555	)
Adjustments to maintain reserves		(25	)		(14	)		(2,840	)		788			(20	)		878			(14	)		(4	)
Net equity transactions		(1,821	)		(2,443	)		(131,633	)		(256,365	)		(107,378	)		640,118			315,870			269,028
Net change in contract owners’ equity		14,459			(23,588	)		(35,408	)		(267,335	)		(63,459	)		633,104			382,421			278,481
Contract owners’ equity at beginning of period		39,663			63,251			1,331,074			1,598,409			847,799			214,695			278,481			-
Contract owners’ equity at end of period	$	54,122			39,663			1,295,666			1,331,074			784,340			847,799			660,902			278,481
CHANGE IN UNITS:
Beginning units		1,091			1,156			23,890			28,640			53,218			13,371			28,336			-
Units purchased		-			-			1,087			1,011			17,139			80,023			48,084			32,505
Units redeemed		(35	)		(65	)		(3,450	)		(5,761	)		(24,733	)		(40,176	)		(18,275	)		(4,169	)
Ending units		1,056			1,091			21,527			23,890			45,624			53,218			58,145			28,336

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	AMVGS4					AMVGV2						AMVNW4						BRVED3
	2023			2022		2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(38	)		-		8,507			5,766			1,994			453			36,566			15,013
Realized gain (loss) on investments		(3	)		-		(16,182	)		(10,674	)		2,052			(1,586	)		(54,965	)		10,383
Change in unrealized gain (loss) on investments		411			-		721			(6,789	)		27,902			(432	)		278,519			(888,255	)
Reinvested capital gains		-			-		-			-			-			2,314			269,209			546,795
Net increase (decrease) in contract owners’ equity resulting from operations		370			-		(6,954	)		(11,697	)		31,948			749			529,329			(316,064	)
Equity transactions:
Purchase payments received from contract owners (note 4)		-			-		52			-			56,144			3			20,931			61,351
Transfers between funds		23,771			-		143,665			231,058			271,002			91,097			863,531			968,183
Redemptions (notes 2, 3, and 4)		-			-		(6,434	)		(3,426	)		(22,601	)		(7,130	)		(411,873	)		(225,908	)
Adjustments to maintain reserves		(2	)		-		(9	)		(10	)		(11	)		(7	)		(110	)		642
Net equity transactions		23,769			-		137,274			227,622			304,534			83,963			472,479			804,268
Net change in contract owners’ equity		24,139			-		130,320			215,925			336,482			84,712			1,001,808			488,204
Contract owners’ equity at beginning of period		-			-		215,925			-			84,712			-			4,702,167			4,213,963
Contract owners’ equity at end of period	$	24,139			-		346,245			215,925			421,194			84,712			5,703,975			4,702,167
CHANGE IN UNITS:
Beginning units		-			-		22,718			-			8,974			-			273,252			232,250
Units purchased		2,246			-		87,881			44,308			33,519			9,785			67,047			178,107
Units redeemed		-			-		(74,810	)		(21,590	)		(3,525	)		(811	)		(41,335	)		(137,105	)
Ending units		2,246			-		35,789			22,718			38,968			8,974			298,964			273,252

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	BRVHY3						BRVTR3						MLVGA3						DCAP
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	299,319			336,585			92,250			28,494			232,734			(219,564	)		(826	)		(1,005	)
Realized gain (loss) on investments		(131,269	)		(2,415,301	)		(365,255	)		(133,073	)		(103,705	)		(366,096	)		(11,191	)		(20,861	)
Change in unrealized gain (loss) on investments		451,891			5,708			427,037			(549,144	)		1,726,840			(3,553,604	)		16,290			(27,996	)
Reinvested capital gains		-			-			-			669			-			297,915			5,016			27,565
Net increase (decrease) in contract owners’ equity resulting from operations		619,941			(2,073,008	)		154,032			(653,054	)		1,855,869			(3,841,349	)		9,289			(22,297	)
Equity transactions:
Purchase payments received from contract owners (note 4)		5,421			25,930			4,481			75			75,026			129,444			-			-
Transfers between funds		416,997			(20,989,389	)		(180,195	)		264,095			(222,203	)		(364,385	)		(1	)		(1	)
Redemptions (notes 2, 3, and 4)		(602,956	)		(580,108	)		(392,680	)		(388,621	)		(1,497,496	)		(1,555,942	)		(17,007	)		(16,645	)
Adjustments to maintain reserves		2,515			8,336			(142	)		5,904			(190	)		912			1,356			2,857
Net equity transactions		(178,023	)		(21,535,231	)		(568,536	)		(118,547	)		(1,644,863	)		(1,789,971	)		(15,652	)		(13,789	)
Net change in contract owners’ equity		441,918			(23,608,239	)		(414,504	)		(771,601	)		211,006			(5,631,320	)		(6,363	)		(36,086	)
Contract owners’ equity at beginning of period		7,490,935			31,099,174			3,885,709			4,657,310			17,524,460			23,155,780			58,306			94,392
Contract owners’ equity at end of period	$	7,932,853			7,490,935			3,471,205			3,885,709			17,735,466			17,524,460			51,943			58,306
CHANGE IN UNITS:
Beginning units		648,678			2,385,341			408,786			415,826			900,708			987,456			7			3
Units purchased		801,078			3,419,807			114,164			98,449			12,440			30,712			-			4
Units redeemed		(834,981	)		(5,156,470	)		(172,303	)		(105,489	)		(93,483	)		(117,460	)		(4	)		-
Ending units		614,775			648,678			350,647			408,786			819,665			900,708			3			7

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	DSC					DSIF						DSRG						DSRGS
	2023		2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	-		(16	)		925,359			709,294			(115,659	)		(202,941	)		(202	)		(260	)
Realized gain (loss) on investments		-		(418	)		14,051,159			19,395,543			40,081			496,614			56			1,118
Change in unrealized gain (loss) on investments		-		(1,585	)		35,507,198			(111,307,048	)		2,939,671			(13,714,749	)		1,078			(6,549	)
Reinvested capital gains		-		949			10,172,895			25,265,190			3,983,511			2,679,298			1,506			1,177
Net increase (decrease) in contract owners’ equity resulting from operations		-		(1,070	)		60,656,611			(65,937,021	)		6,847,604			(10,741,778	)		2,438			(4,514	)
Equity transactions:
Purchase payments received from contract owners (note 4)		-		-			1,161,945			1,863,020			198,839			403,836			-			-
Transfers between funds		-		-			(4,237,607	)		(8,142,436	)		(717,629	)		(1,198,843	)		-			(123	)
Redemptions (notes 2, 3, and 4)		-		(4,709	)		(21,322,918	)		(23,107,094	)		(2,560,124	)		(3,251,060	)		-			(3,507	)
Adjustments to maintain reserves		-		436			23,547			42,061			(2,573	)		(1,266	)		9			-
Net equity transactions		-		(4,273	)		(24,375,033	)		(29,344,449	)		(3,081,487	)		(4,047,333	)		9			(3,630	)
Net change in contract owners’ equity		-		(5,343	)		36,281,578			(95,281,470	)		3,766,117			(14,789,111	)		2,447			(8,144	)
Contract owners’ equity at beginning of period		-		5,343			258,484,303			353,765,773			31,979,190			46,768,301			11,638			19,782
Contract owners’ equity at end of period	$	-		-			294,765,881			258,484,303			35,745,307			31,979,190			14,085			11,638
CHANGE IN UNITS:
Beginning units		-		165			5,626,144			6,229,641			927,194			1,036,599			459			575
Units purchased		-		-			65,776			129,838			8,054			15,351			-			-
Units redeemed		-		(165	)		(540,695	)		(733,335	)		(89,478	)		(124,756	)		-			(116	)
Ending units		-		-			5,151,225			5,626,144			845,770			927,194			459			459

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	DVMCSS						DVSCS						CLVHY2						DWVSVS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(6,559	)		(8,376	)		(6,028	)		(32,636	)		16,347			21,719			(11,834	)		(15,792	)
Realized gain (loss) on investments		(28,871	)		(15,181	)		79,658			445,215			(5,444	)		(64,499	)		(42,345	)		236,084
Change in unrealized gain (loss) on investments		190,991			(540,494	)		1,192,177			(6,447,581	)		29,121			(34,264	)		132,035			(941,725	)
Reinvested capital gains		40,112			330,568			918,263			2,279,395			-			3,904			99,897			214,678
Net increase (decrease) in contract owners’ equity resulting from operations		195,673			(233,483	)		2,184,070			(3,755,607	)		40,024			(73,140	)		177,753			(506,755	)
Equity transactions:
Purchase payments received from contract owners (note 4)		3,248			3,743			66,546			94,761			1,125			1,551			14,223			25,312
Transfers between funds		2,962			(42,658	)		(371,768	)		(650,571	)		(18,008	)		34,643			(66,992	)		(154,411	)
Redemptions (notes 2, 3, and 4)		(94,949	)		(159,289	)		(990,160	)		(1,153,836	)		(46,175	)		(175,115	)		(124,536	)		(95,375	)
Adjustments to maintain reserves		(97	)		187			11,965			(5,693	)		(21	)		874			(108	)		54,258
Net equity transactions		(88,836	)		(198,017	)		(1,283,417	)		(1,715,339	)		(63,079	)		(138,047	)		(177,413	)		(170,216	)
Net change in contract owners’ equity		106,837			(431,500	)		900,653			(5,470,946	)		(23,055	)		(211,187	)		340			(676,971	)
Contract owners’ equity at beginning of period		1,196,259			1,627,759			16,485,616			21,956,562			414,515			625,702			2,531,150			3,208,121
Contract owners’ equity at end of period	$	1,303,096			1,196,259			17,386,269			16,485,616			391,460			414,515			2,531,490			2,531,150
CHANGE IN UNITS:
Beginning units		79,027			91,195			389,362			427,152			38,484			51,311			129,614			142,393
Units purchased		25,547			5,852			10,709			8,276			2,524			10,466			15,751			33,651
Units redeemed		(30,864	)		(18,020	)		(40,396	)		(46,066	)		(8,137	)		(23,293	)		(25,207	)		(46,430	)
Ending units		73,710			79,027			359,675			389,362			32,871			38,484			120,158			129,614

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	ETVFR						FHIBS						FQB						FQBS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	545,601			287,555			25,667			25,901			497,310			544,548			5,165			4,733
Realized gain (loss) on investments		(45,630	)		(465,634	)		(18,324	)		(16,184	)		(633,522	)		(521,725	)		(10,308	)		(6,842	)
Change in unrealized gain (loss) on investments		236,663			(299,557	)		53,861			(117,080	)		1,673,198			(4,790,726	)		38,734			(131,943	)
Reinvested capital gains		-			-			-			-			-			571,537			-			15,056
Net increase (decrease) in contract owners’ equity resulting from operations		736,634			(477,636	)		61,204			(107,363	)		1,536,986			(4,196,366	)		33,591			(118,996	)
Equity transactions:
Purchase payments received from contract owners (note 4)		9,386			55,809			-			11,165			196,750			235,469			422			1,224
Transfers between funds		288,383			(68,985	)		(1,473	)		(7,205	)		(260,403	)		(1,447,040	)		(37,385	)		(21,851	)
Redemptions (notes 2, 3, and 4)		(547,686	)		(797,303	)		(97,319	)		(71,854	)		(3,553,232	)		(3,055,334	)		(32,042	)		(35,119	)
Adjustments to maintain reserves		(109	)		(10,191	)		(1,147	)		(43	)		21,979			26,766			(4,711	)		1,599
Net equity transactions		(250,026	)		(820,670	)		(99,939	)		(67,937	)		(3,594,906	)		(4,240,139	)		(73,716	)		(54,147	)
Net change in contract owners’ equity		486,608			(1,298,306	)		(38,735	)		(175,300	)		(2,057,920	)		(8,436,505	)		(40,125	)		(173,143	)
Contract owners’ equity at beginning of period		7,507,519			8,805,825			642,388			817,688			33,687,173			42,123,678			911,805			1,084,948
Contract owners’ equity at end of period	$	7,994,127			7,507,519			603,653			642,388			31,629,253			33,687,173			871,680			911,805
CHANGE IN UNITS:
Beginning units		676,565			761,446			28,444			31,308			1,742,339			1,960,490			66,710			70,557
Units purchased		79,264			357,772			329			534			44,563			36,200			1,432			967
Units redeemed		(100,661	)		(442,653	)		(4,475	)		(3,398	)		(228,469	)		(254,351	)		(6,329	)		(4,814	)
Ending units		655,168			676,565			24,298			28,444			1,558,433			1,742,339			61,813			66,710

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	FVU2S						FB2						FC2						FCS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(79	)		(1,377	)		95,408			(7,086	)		(17,009	)		(14,280	)		(100,941	)		(104,305	)
Realized gain (loss) on investments		(3,976	)		(5,202	)		(200,419	)		(998,954	)		(34,635	)		(136,339	)		533,873			803,178
Change in unrealized gain (loss) on investments		8,642			(22,765	)		2,644,430			(4,876,687	)		607,629			(645,145	)		2,938,502			(6,419,991	)
Reinvested capital gains		-			16,971			614,677			1,226,952			92,321			94,713			498,516			686,215
Net increase (decrease) in contract owners’ equity resulting from operations		4,587			(12,373	)		3,154,096			(4,655,775	)		648,306			(701,051	)		3,869,950			(5,034,903	)
Equity transactions:
Purchase payments received from contract owners (note 4)		1,138			6			365,716			183,567			159,805			152,781			132,387			133,478
Transfers between funds		151			30,272			4,689,586			(2,498,577	)		1,045,336			(128,838	)		(227,542	)		(65,501	)
Redemptions (notes 2, 3, and 4)		(16,537	)		(17,767	)		(2,648,090	)		(1,176,825	)		(415,291	)		(63,007	)		(1,141,016	)		(1,297,219	)
Adjustments to maintain reserves		(13	)		(24	)		(122	)		431,772			(52	)		54,821			(10,066	)		4,203
Net equity transactions		(15,261	)		12,487			2,407,090			(3,060,063	)		789,798			15,757			(1,246,237	)		(1,225,039	)
Net change in contract owners’ equity		(10,674	)		114			5,561,186			(7,715,838	)		1,438,104			(685,294	)		2,623,713			(6,259,942	)
Contract owners’ equity at beginning of period		85,485			85,371			15,709,084			23,424,922			1,715,581			2,400,875			12,640,274			18,900,216
Contract owners’ equity at end of period	$	74,811			85,485			21,270,270			15,709,084			3,153,685			1,715,581			15,263,987			12,640,274
CHANGE IN UNITS:
Beginning units		8,287			7,025			988,465			1,191,498			131,257			133,671			205,016			223,307
Units purchased		296			4,053			331,247			107,814			122,623			34,245			2,380			2,730
Units redeemed		(1,796	)		(2,791	)		(204,839	)		(310,847	)		(70,757	)		(36,659	)		(19,509	)		(21,021	)
Ending units		6,787			8,287			1,114,873			988,465			183,123			131,257			187,887			205,016

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	FEI2						FEIS						FEMS2						FF10S
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(1,749	)		(2,554	)		910,711			965,622			13,267			7,284			127,646			63,113
Realized gain (loss) on investments		(19,263	)		244,077			550,695			1,514,700			(20,499	)		(594,685	)		(233,271	)		(789,535	)
Change in unrealized gain (loss) on investments		128,707			(566,509	)		6,680,000			(17,464,303	)		104,125			203,825			79,867			(1,070,003	)
Reinvested capital gains		62,149			78,439			3,822,516			4,839,273			-			-			411,026			478,074
Net increase (decrease) in contract owners’ equity resulting from operations		169,844			(246,547	)		11,963,922			(10,144,708	)		96,893			(383,576	)		385,268			(1,318,351	)
Equity transactions:
Purchase payments received from contract owners (note 4)		22,164			1,188			434,405			862,360			99,918			6,996			-			132,159
Transfers between funds		(22,370	)		(22,702	)		(5,300,375	)		(3,062,798	)		3,773			306,308			(1,124,763	)		(1,473,973	)
Redemptions (notes 2, 3, and 4)		(238,217	)		(180,186	)		(12,041,769	)		(11,361,827	)		(73,556	)		(66,660	)		(736,540	)		(471,146	)
Adjustments to maintain reserves		(280	)		68,589			77,787			(74,583	)		(52	)		19,655			(96	)		88,849
Net equity transactions		(238,703	)		(133,111	)		(16,829,952	)		(13,636,848	)		30,083			266,299			(1,861,399	)		(1,724,111	)
Net change in contract owners’ equity		(68,859	)		(379,658	)		(4,866,030	)		(23,781,556	)		126,976			(117,277	)		(1,476,131	)		(3,042,462	)
Contract owners’ equity at beginning of period		2,229,190			2,608,848			141,330,902			165,112,458			1,334,230			1,451,507			5,850,565			8,893,027
Contract owners’ equity at end of period	$	2,160,331			2,229,190			136,464,872			141,330,902			1,461,206			1,334,230			4,374,434			5,850,565
CHANGE IN UNITS:
Beginning units		81,642			88,874			3,503,409			3,842,548			128,141			109,905			326,976			424,077
Units purchased		1,915			2,191			40,869			104,864			51,445			37,053			5,681			24,394
Units redeemed		(10,835	)		(9,423	)		(454,179	)		(444,003	)		(50,099	)		(18,817	)		(104,778	)		(121,495	)
Ending units		72,722			81,642			3,090,099			3,503,409			129,487			128,141			227,879			326,976

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	FF10S2						FF20S						FF20S2						FF30S
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	467			243			175,650			93,264			966			(98	)		103,852			67,261
Realized gain (loss) on investments		(704	)		(963	)		(90,958	)		(1,091,102	)		1,945			2,814			(17,135	)		(383,076	)
Change in unrealized gain (loss) on investments		303			(1,465	)		793,054			(2,216,581	)		5,630			(35,153	)		937,327			(2,217,900	)
Reinvested capital gains		961			617			68,293			1,054,725			679			10,972			-			590,342
Net increase (decrease) in contract owners’ equity resulting from operations		1,027			(1,568	)		946,039			(2,159,694	)		9,220			(21,465	)		1,024,044			(1,943,373	)
Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			42,255			291,571			-			-			109,361			88,604
Transfers between funds		(2,648	)		-			(666,619	)		116,100			-			-			162,453			229,334
Redemptions (notes 2, 3, and 4)		(220	)		(278	)		(1,376,815	)		(584,063	)		(7,278	)		(8,900	)		(870,199	)		(779,158	)
Adjustments to maintain reserves		(1,900	)		3,390			4,809			160,513			7			3			2,454			163,655
Net equity transactions		(4,768	)		3,112			(1,996,370	)		(15,879	)		(7,271	)		(8,897	)		(595,931	)		(297,565	)
Net change in contract owners’ equity		(3,741	)		1,544			(1,050,331	)		(2,175,573	)		1,949			(30,362	)		428,113			(2,240,938	)
Contract owners’ equity at beginning of period		12,790			11,246			9,576,728			11,752,301			94,694			125,056			7,957,531			10,198,469
Contract owners’ equity at end of period	$	9,049			12,790			8,526,397			9,576,728			96,643			94,694			8,385,644			7,957,531
CHANGE IN UNITS:
Beginning units		-			-			493,872			504,075			-			-			371,710			391,355
Units purchased		-			-			15,771			41,883			-			-			18,453			40,326
Units redeemed		-			-			(113,980	)		(52,086	)		-			-			(44,199	)		(59,971	)
Ending units		-			-			395,663			493,872			-			-			345,964			371,710

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	FF30S2						FG2						FGI2						FGOS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	62			(235	)		(53,235	)		(44,546	)		11,160			16,055			(18,261	)		(18,114	)
Realized gain (loss) on investments		(19	)		6,459			6,996			(269,066	)		(11,279	)		98,088			33,959			53,098
Change in unrealized gain (loss) on investments		7,859			(35,266	)		788,771			(1,003,481	)		334,802			(436,232	)		572,950			(1,242,292	)
Reinvested capital gains		-			7,398			143,562			237,197			108,064			58,638			-			324,998
Net increase (decrease) in contract owners’ equity resulting from operations		7,902			(21,644	)		886,094			(1,079,896	)		442,747			(263,451	)		588,648			(882,310	)
Equity transactions:
Purchase payments received from contract owners (note 4)		157			-			11,617			-			97,646			172,731			12,719			13,524
Transfers between funds		-			-			(40,468	)		84,754			125,037			1,077,429			44,751			54,581
Redemptions (notes 2, 3, and 4)		(6,402	)		(30,572	)		(368,709	)		(178,415	)		(523,157	)		(145,546	)		(89,362	)		(90,905	)
Adjustments to maintain reserves		651			(168	)		(92	)		87,670			(83	)		94,135			496			(907	)
Net equity transactions		(5,594	)		(30,740	)		(397,652	)		(5,991	)		(300,557	)		1,198,749			(31,396	)		(23,707	)
Net change in contract owners’ equity		2,308			(52,384	)		488,442			(1,085,887	)		142,190			935,298			557,252			(906,017	)
Contract owners’ equity at beginning of period		73,883			126,267			2,786,397			3,872,284			2,915,079			1,979,781			1,382,296			2,288,313
Contract owners’ equity at end of period	$	76,191			73,883			3,274,839			2,786,397			3,057,269			2,915,079			1,939,548			1,382,296
CHANGE IN UNITS:
Beginning units		-			-			74,163			76,196			156,725			99,791			32,464			32,835
Units purchased		-			-			698			3,582			28,494			83,995			1,319			2,768
Units redeemed		-			-			(9,903	)		(5,615	)		(44,969	)		(27,061	)		(2,158	)		(3,139	)
Ending units		-			-			64,958			74,163			140,250			156,725			31,625			32,464

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	FGS						FHIS						FIGBS						FMC2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(1,950,673	)		(1,115,302	)		1,947,658			929,342			304,922			237,584			(12,356	)		(14,900	)
Realized gain (loss) on investments		6,766,810			6,053,627			(1,925,867	)		(4,093,028	)		(481,866	)		(487,659	)		11,014			(859	)
Change in unrealized gain (loss) on investments		41,592,083			(80,397,247	)		2,159,558			(1,832,136	)		1,221,677			(5,068,793	)		89,266			(239,908	)
Reinvested capital gains		8,678,922			14,551,555			-			-			-			1,374,517			26,225			67,003
Net increase (decrease) in contract owners’ equity resulting from operations		55,087,142			(60,907,367	)		2,181,349			(4,995,822	)		1,044,733			(3,944,351	)		114,149			(188,664	)
Equity transactions:
Purchase payments received from contract owners (note 4)		1,734,569			1,595,150			129,138			231,214			256,868			398,240			-			-
Transfers between funds		(3,078,513	)		(5,918,181	)		19,191,163			194,197			1,024,586			(2,150,643	)		-			(21,950	)
Redemptions (notes 2, 3, and 4)		(17,139,600	)		(15,734,033	)		(2,349,310	)		(2,437,924	)		(2,072,687	)		(2,029,117	)		(102,790	)		(79,788	)
Adjustments to maintain reserves		(32,650	)		5,359			35,244			21,617			3,574			51,713			(8,573	)		94,744
Net equity transactions		(18,516,194	)		(20,051,705	)		17,006,235			(1,990,896	)		(787,659	)		(3,729,807	)		(111,363	)		(6,994	)
Net change in contract owners’ equity		36,570,948			(80,959,072	)		19,187,584			(6,986,718	)		257,074			(7,674,158	)		2,786			(195,658	)
Contract owners’ equity at beginning of period		167,778,128			248,737,200			23,342,293			30,329,011			21,896,228			29,570,386			945,624			1,141,282
Contract owners’ equity at end of period	$	204,349,076			167,778,128			42,529,877			23,342,293			22,153,302			21,896,228			948,410			945,624
CHANGE IN UNITS:
Beginning units		3,116,169			3,448,588			1,262,784			1,435,662			1,425,341			1,663,378			-			-
Units purchased		78,823			70,476			3,149,764			1,981,673			145,418			73,252			-			-
Units redeemed		(379,460	)		(402,895	)		(2,314,798	)		(2,154,551	)		(195,287	)		(311,289	)		-			-
Ending units		2,815,532			3,116,169			2,097,750			1,262,784			1,375,472			1,425,341			-			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	FMCS						FNRS2						FO2						FOS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(99,649	)		(130,418	)		171,383			192,104			(7,120	)		(7,855	)		(31,498	)		(26,282	)
Realized gain (loss) on investments		(115,984	)		348,657			(73,639	)		4,466,392			5,178			43,268			415,393			177,147
Change in unrealized gain (loss) on investments		1,900,269			(5,470,929	)		(621,910	)		(451,328	)		123,538			(271,121	)		3,038,873			(7,105,717	)
Reinvested capital gains		452,860			1,185,214			-			-			1,985			7,566			51,707			190,368
Net increase (decrease) in contract owners’ equity resulting from operations		2,137,496			(4,067,476	)		(524,166	)		4,207,168			123,581			(228,142	)		3,474,475			(6,764,484	)
Equity transactions:
Purchase payments received from contract owners (note 4)		88,267			87,001			100,767			136,454			4,875			12,422			174,237			237,044
Transfers between funds		(433,574	)		(521,641	)		(4,381,319	)		5,877,146			(1,159	)		2,241			(106,064	)		209,289
Redemptions (notes 2, 3, and 4)		(1,466,536	)		(1,710,636	)		(756,340	)		(1,617,969	)		(49,273	)		(85,871	)		(1,975,561	)		(1,290,669	)
Adjustments to maintain reserves		6,465			630,503			1,660			867,415			(1,708	)		(47,328	)		(4,667	)		9,998
Net equity transactions		(1,805,378	)		(1,514,773	)		(5,035,232	)		5,263,046			(47,265	)		(118,536	)		(1,912,055	)		(834,338	)
Net change in contract owners’ equity		332,118			(5,582,249	)		(5,559,398	)		9,470,214			76,316			(346,678	)		1,562,420			(7,598,822	)
Contract owners’ equity at beginning of period		16,614,217			22,196,466			16,718,793			7,248,579			706,731			1,053,409			18,988,842			26,587,664
Contract owners’ equity at end of period	$	16,946,335			16,614,217			11,159,395			16,718,793			783,047			706,731			20,551,262			18,988,842
CHANGE IN UNITS:
Beginning units		607,286			683,828			1,162,422			813,411			61,867			68,285			806,797			842,691
Units purchased		16,029			17,750			121,771			878,879			1,346			1,412			39,698			54,281
Units redeemed		(79,313	)		(94,292	)		(506,790	)		(529,868	)		(5,093	)		(7,830	)		(113,758	)		(90,175	)
Ending units		544,002			607,286			777,403			1,162,422			58,120			61,867			732,737			806,797

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	FRESS2						FVFRHI					FVSS						FVSS2
	2023			2022			2023			2022		2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	14,818			(1,945	)		17,222			-		(3,339	)		(12,858	)		(2,205	)		(1,949	)
Realized gain (loss) on investments		(48,134	)		(188,223	)		(1,404	)		-		(177,966	)		834,798			6,277			30,614
Change in unrealized gain (loss) on investments		97,225			(226,651	)		(7,799	)		-		1,197,098			(2,274,616	)		41,229			(60,082	)
Reinvested capital gains		32,729			41,328			-			-		293,652			372,357			14,372			15,877
Net increase (decrease) in contract owners’ equity resulting from operations		96,638			(375,491	)		8,019			-		1,309,445			(1,080,319	)		59,673			(15,540	)
Equity transactions:
Purchase payments received from contract owners (note 4)		6,917			9,504			4,214			-		25,639			13,451			11,686			1,683
Transfers between funds		323,966			170,440			274,186			-		(21,124	)		(270,289	)		83,624			52,833
Redemptions (notes 2, 3, and 4)		(16,684	)		(81,426	)		(3,312	)		-		(932,586	)		(646,105	)		(75,091	)		(11,771	)
Adjustments to maintain reserves		(27	)		29,329			(4	)		-		(855	)		340,440			(103	)		(7,221	)
Net equity transactions		314,172			127,847			275,084			-		(928,926	)		(562,503	)		20,116			35,524
Net change in contract owners’ equity		410,810			(247,644	)		283,103			-		380,519			(1,642,822	)		79,789			19,984
Contract owners’ equity at beginning of period		655,525			903,169			-			-		7,611,267			9,254,089			290,062			270,078
Contract owners’ equity at end of period	$	1,066,335			655,525			283,103			-		7,991,786			7,611,267			369,851			290,062
CHANGE IN UNITS:
Beginning units		62,778			62,184			-			-		189,672			211,392			12,770			7,533
Units purchased		46,385			69,663			30,819			-		48,741			28,504			20,549			15,704
Units redeemed		(15,988	)		(69,069	)		(4,373	)		-		(71,982	)		(50,224	)		(15,165	)		(10,467	)
Ending units		93,175			62,778			26,446			-		166,431			189,672			18,154			12,770

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	FTVDM2						FTVFA2						FTVGI2						FTVIS2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	22,193			35,068			9,048			13,070			(93,179	)		(111,646	)		943,309			972,147
Realized gain (loss) on investments		(96,055	)		(87,617	)		(139,888	)		(153,558	)		(482,707	)		(878,099	)		(17,607	)		108,837
Change in unrealized gain (loss) on investments		308,790			(801,767	)		405,567			(630,016	)		685,561			294,651			(743,909	)		(3,414,216	)
Reinvested capital gains		1,690			176,044			43,863			252,425			-			-			1,472,700			515,548
Net increase (decrease) in contract owners’ equity resulting from operations		236,618			(678,272	)		318,590			(518,079	)		109,675			(695,094	)		1,654,493			(1,817,684	)
Equity transactions:
Purchase payments received from contract owners (note 4)		1,876			6,391			90			537			23,408			46,241			70,415			494,789
Transfers between funds		(127,437	)		58,253			(26,074	)		108,547			(489,373	)		(830,979	)		(1,096,650	)		1,130,269
Redemptions (notes 2, 3, and 4)		(154,798	)		(207,370	)		(186,714	)		(196,382	)		(764,135	)		(1,065,788	)		(2,031,622	)		(2,806,649	)
Adjustments to maintain reserves		333			(141	)		1,221			(334	)		1,002			1,248			31,261			1,048
Net equity transactions		(280,026	)		(142,867	)		(211,477	)		(87,632	)		(1,229,098	)		(1,849,278	)		(3,026,596	)		(1,180,543	)
Net change in contract owners’ equity		(43,408	)		(821,139	)		107,113			(605,711	)		(1,119,423	)		(2,544,372	)		(1,372,103	)		(2,998,227	)
Contract owners’ equity at beginning of period		2,173,530			2,994,669			2,510,970			3,116,681			9,163,470			11,707,842			24,544,612			27,542,839
Contract owners’ equity at end of period	$	2,130,122			2,173,530			2,618,083			2,510,970			8,044,047			9,163,470			23,172,509			24,544,612
CHANGE IN UNITS:
Beginning units		203,319			215,032			157,442			162,293			1,114,806			1,335,226			1,186,787			1,241,272
Units purchased		16,899			18,979			880			14,873			32,030			66,242			18,343			175,895
Units redeemed		(41,373	)		(30,692	)		(13,567	)		(19,724	)		(184,634	)		(286,662	)		(162,107	)		(230,380	)
Ending units		178,845			203,319			144,755			157,442			962,202			1,114,806			1,043,023			1,186,787

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	FTVRD2						FTVSV2						TIF2						GVGMNS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(2,054	)		(3,107	)		(40,443	)		(9,554	)		51,339			48,927			891			(371	)
Realized gain (loss) on investments		8,931			14,869			(268,491	)		(249,117	)		(37,747	)		(64,418	)		(152	)		(2,975	)
Change in unrealized gain (loss) on investments		(9,521	)		(152,285	)		700,634			(2,052,970	)		429,482			(269,339	)		4,585			(5,701	)
Reinvested capital gains		50,714			67,170			391,565			1,373,318			-			-			-			1,230
Net increase (decrease) in contract owners’ equity resulting from operations		48,070			(73,353	)		783,265			(938,323	)		443,074			(284,830	)		5,324			(7,817	)
Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			37,542			223,232			6,206			32,342			1,083			-
Transfers between funds		(3,226	)		(7,711	)		54,050			(40,202	)		(156,537	)		170,667			63,685			491
Redemptions (notes 2, 3, and 4)		(62,617	)		(67,110	)		(579,756	)		(580,855	)		(201,543	)		(159,312	)		(1,827	)		(1,590	)
Adjustments to maintain reserves		(6,290	)		9,780			(226	)		149			20,239			20,017			(10	)		42
Net equity transactions		(72,133	)		(65,041	)		(488,390	)		(397,676	)		(331,635	)		63,714			62,931			(1,057	)
Net change in contract owners’ equity		(24,063	)		(138,394	)		294,875			(1,335,999	)		111,439			(221,116	)		68,255			(8,874	)
Contract owners’ equity at beginning of period		488,776			627,170			7,142,262			8,478,261			2,426,591			2,647,707			29,994			38,868
Contract owners’ equity at end of period	$	464,713			488,776			7,437,137			7,142,262			2,538,030			2,426,591			98,249			29,994
CHANGE IN UNITS:
Beginning units		-			-			272,293			286,845			271,886			271,945			2,390			2,473
Units purchased		-			-			15,265			28,270			50,141			79,455			4,778			34
Units redeemed		-			-			(32,231	)		(42,822	)		(84,858	)		(79,514	)		(132	)		(117	)
Ending units		-			-			255,327			272,293			237,169			271,886			7,036			2,390

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	GVMSAS						RVARS						SBLD						SBLJ
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	3,325			887			23,049			2,996			6,236			2,138			549			(831	)
Realized gain (loss) on investments		(202	)		(7,230	)		(31,426	)		11,005			(1,244	)		254			(13,125	)		(1,360	)
Change in unrealized gain (loss) on investments		808			(2,091	)		49,331			(90,522	)		28,685			(64,944	)		40,905			(68,857	)
Reinvested capital gains		-			-			-			14,264			-			40,986			-			32,735
Net increase (decrease) in contract owners’ equity resulting from operations		3,931			(8,434	)		40,954			(62,257	)		33,677			(21,566	)		28,329			(38,313	)
Equity transactions:
Purchase payments received from contract owners (note 4)		408			408			1,564			404			2,731			1,797			1,321			1,325
Transfers between funds		3,572			18,563			(567,146	)		938,863			155,717			18,008			(10,226	)		30,800
Redemptions (notes 2, 3, and 4)		(3,922	)		(58,971	)		(40,876	)		(76,157	)		(41,887	)		(1,645	)		(14,919	)		(962	)
Adjustments to maintain reserves		(11	)		312			(37	)		174			(14	)		(15	)		(52	)		60
Net equity transactions		47			(39,688	)		(606,495	)		863,284			116,547			18,145			(23,876	)		31,223
Net change in contract owners’ equity		3,978			(48,122	)		(565,541	)		801,027			150,224			(3,421	)		4,453			(7,090	)
Contract owners’ equity at beginning of period		57,463			105,585			1,496,866			695,839			199,912			203,333			119,777			126,867
Contract owners’ equity at end of period	$	61,441			57,463			931,325			1,496,866			350,136			199,912			124,230			119,777
CHANGE IN UNITS:
Beginning units		5,578			9,509			134,971			60,555			10,878			9,948			4,879			3,694
Units purchased		385			1,798			27,361			96,602			9,044			1,149			449			1,326
Units redeemed		(377	)		(5,729	)		(80,587	)		(22,186	)		(2,787	)		(219	)		(1,281	)		(141	)
Ending units		5,586			5,578			81,745			134,971			17,135			10,878			4,047			4,879

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	SBLN						SBLO						SBLP						SBLQ
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	783			(1,690	)		883			11			12,506			15,115			1,026			(2,463	)
Realized gain (loss) on investments		(1,524	)		2,918			(512	)		1,122			(9,255	)		(8,009	)		(1,182	)		(1,091	)
Change in unrealized gain (loss) on investments		65,771			(173,446	)		(4,439	)		(25,751	)		23,686			(40,623	)		15,008			(56,672	)
Reinvested capital gains		4,338			54,965			18,548			18,634			-			-			35,335			29,522
Net increase (decrease) in contract owners’ equity resulting from operations		69,368			(117,253	)		14,480			(5,984	)		26,937			(33,517	)		50,187			(30,704	)
Equity transactions:
Purchase payments received from contract owners (note 4)		2,109			2,017			350			137			2,605			2,429			10,032			9,718
Transfers between funds		4			171			124,851			(58,594	)		(11,332	)		18,267			(3,503	)		9,103
Redemptions (notes 2, 3, and 4)		(24,436	)		(20,718	)		(42,249	)		(24,827	)		(26,253	)		(22,408	)		(40,213	)		(38,695	)
Adjustments to maintain reserves		40			70			(44	)		22			27			(30	)		(9	)		18
Net equity transactions		(22,283	)		(18,460	)		82,908			(83,262	)		(34,953	)		(1,742	)		(33,693	)		(19,856	)
Net change in contract owners’ equity		47,085			(135,713	)		97,388			(89,246	)		(8,016	)		(35,259	)		16,494			(50,560	)
Contract owners’ equity at beginning of period		549,286			684,999			174,676			263,922			267,634			302,893			569,968			620,528
Contract owners’ equity at end of period	$	596,371			549,286			272,064			174,676			259,618			267,634			586,462			569,968
CHANGE IN UNITS:
Beginning units		27,002			27,786			6,199			9,156			13,067			13,208			20,283			21,015
Units purchased		97			89			4,172			5			121			1,631			625			791
Units redeemed		(1,130	)		(873	)		(1,359	)		(2,962	)		(1,750	)		(1,772	)		(1,758	)		(1,523	)
Ending units		25,969			27,002			9,012			6,199			11,438			13,067			19,150			20,283

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	SBLV						SBLX						SBLY						ACC2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	5,238			(3,679	)		173			(513	)		361			(987	)		(6,519	)		(12,171	)
Realized gain (loss) on investments		(8,219	)		22,425			(9,253	)		(6,823	)		(11,933	)		2,634			(18,218	)		427,294
Change in unrealized gain (loss) on investments		19,031			(222,112	)		19,601			(38,015	)		53,460			(87,542	)		(12,962	)		(549,158	)
Reinvested capital gains		98,218			158,395			-			21,797			-			31,419			263,973			79,197
Net increase (decrease) in contract owners’ equity resulting from operations		114,268			(44,971	)		10,521			(23,554	)		41,888			(54,476	)		226,274			(54,838	)
Equity transactions:
Purchase payments received from contract owners (note 4)		19,776			22,923			1,268			1,256			4,095			5,131			3,504			14,344
Transfers between funds		(16,177	)		(21,064	)		(1,827	)		544			(4,733	)		(1,598	)		(45,287	)		67,431
Redemptions (notes 2, 3, and 4)		(156,510	)		(67,821	)		(8,345	)		(10,387	)		(33,161	)		(10,802	)		(322,478	)		(219,636	)
Adjustments to maintain reserves		(74	)		109			(24	)		24			11			(8	)		(299	)		29,441
Net equity transactions		(152,985	)		(65,853	)		(8,928	)		(8,563	)		(33,788	)		(7,277	)		(364,560	)		(108,420	)
Net change in contract owners’ equity		(38,717	)		(110,824	)		1,593			(32,117	)		8,100			(61,753	)		(138,286	)		(163,258	)
Contract owners’ equity at beginning of period		1,465,740			1,576,564			52,550			84,667			119,007			180,760			2,508,607			2,671,865
Contract owners’ equity at end of period	$	1,427,023			1,465,740			54,143			52,550			127,107			119,007			2,370,321			2,508,607
CHANGE IN UNITS:
Beginning units		48,380			50,518			2,321			2,713			3,913			4,070			80,326			84,869
Units purchased		906			2,425			350			100			254			189			234			3,955
Units redeemed		(5,871	)		(4,563	)		(675	)		(492	)		(1,137	)		(346	)		(11,958	)		(8,498	)
Ending units		43,415			48,380			1,996			2,321			3,030			3,913			68,602			80,326

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	ACEG						AVCE2						AVGI						IVHS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(173	)		(169	)		(5,146	)		(5,764	)		(18	)		(13	)		(4,773	)		(4,625	)
Realized gain (loss) on investments		(198	)		19			(10,756	)		(6,647	)		(7	)		(22	)		(4,719	)		244
Change in unrealized gain (loss) on investments		5,121			(10,072	)		72,816			(160,004	)		427			(931	)		16,054			(119,419	)
Reinvested capital gains		350			3,971			7,456			60,528			57			362			-			57,485
Net increase (decrease) in contract owners’ equity resulting from operations		5,100			(6,251	)		64,370			(111,887	)		459			(604	)		6,562			(66,315	)
Equity transactions:
Purchase payments received from contract owners (note 4)		139			139			-			-			-			-			4,705			9,077
Transfers between funds		-			-			(160	)		95			-			-			37,461			22,247
Redemptions (notes 2, 3, and 4)		(416	)		(382	)		(61,976	)		(66,230	)		-			-			(34,387	)		(16,670	)
Adjustments to maintain reserves		(5	)		28			(13	)		1,801			(3	)		10			15			31
Net equity transactions		(282	)		(215	)		(62,149	)		(64,334	)		(3	)		10			7,794			14,685
Net change in contract owners’ equity		4,818			(6,466	)		2,221			(176,221	)		456			(594	)		14,356			(51,630	)
Contract owners’ equity at beginning of period		13,024			19,490			330,367			506,588			2,134			2,728			414,197			465,827
Contract owners’ equity at end of period	$	17,842			13,024			332,588			330,367			2,590			2,134			428,553			414,197
CHANGE IN UNITS:
Beginning units		501			511			16,435			19,619			79			79			13,032			12,565
Units purchased		4			5			-			4			-			-			1,485			1,141
Units redeemed		(13	)		(15	)		(2,756	)		(3,188	)		-			-			(1,283	)		(674	)
Ending units		492			501			13,679			16,435			79			79			13,234			13,032

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	IVKEI1						IVMCC2						IVRE						OVAG
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	2,948			1,717			(1,432	)		(1,525	)		543			2,638			(526,540	)		(595,057	)
Realized gain (loss) on investments		(12,952	)		32,059			(5,985	)		(12,307	)		(2,337	)		(3,441	)		(1,540,620	)		315,753
Change in unrealized gain (loss) on investments		20,292			(121,965	)		24,499			(41,855	)		12,925			(50,889	)		7,509,313			(38,098,991	)
Reinvested capital gains		19,030			48,935			-			29,620			-			-			-			14,793,557
Net increase (decrease) in contract owners’ equity resulting from operations		29,318			(39,254	)		17,082			(26,067	)		11,131			(51,692	)		5,442,153			(23,584,738	)
Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			-			(1,676	)		2,427			2,521			201,503			504,656
Transfers between funds		-			(32,760	)		16,736			(638	)		4,524			7,987			(546,907	)		(546,733	)
Redemptions (notes 2, 3, and 4)		(46,235	)		(15,977	)		(19,420	)		(47,455	)		(4,422	)		(44,166	)		(3,796,519	)		(3,747,006	)
Adjustments to maintain reserves		(4	)		2,672			5			423			7			76			3,114			(6,137	)
Net equity transactions		(46,239	)		(46,065	)		(2,679	)		(49,346	)		2,536			(33,582	)		(4,138,809	)		(3,795,220	)
Net change in contract owners’ equity		(16,921	)		(85,319	)		14,403			(75,413	)		13,667			(85,274	)		1,303,344			(27,379,958	)
Contract owners’ equity at beginning of period		357,297			442,616			126,259			201,672			138,419			223,693			48,167,951			75,547,909
Contract owners’ equity at end of period	$	340,376			357,297			140,662			126,259			152,086			138,419			49,471,295			48,167,951
CHANGE IN UNITS:
Beginning units		17,739			20,023			6,740			9,109			10,428			12,502			1,150,080			1,232,238
Units purchased		-			-			1,766			72			696			750			17,664			35,926
Units redeemed		(2,203	)		(2,284	)		(1,874	)		(2,441	)		(500	)		(2,824	)		(113,188	)		(118,084	)
Ending units		15,536			17,739			6,632			6,740			10,624			10,428			1,054,556			1,150,080

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	OVAG2						OVGI						OVGR						OVGS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(15,098	)		(17,121	)		(2,745	)		(1,074	)		(38,184	)		(41,407	)		(663,470	)		(863,115	)
Realized gain (loss) on investments		(130,722	)		114,211			(27,283	)		(15,828	)		(136,049	)		(1,900	)		(1,303,836	)		(29,844	)
Change in unrealized gain (loss) on investments		272,214			(1,135,579	)		63,727			(177,616	)		1,183,662			(2,749,225	)		14,411,062			(45,675,991	)
Reinvested capital gains		-			404,881			19,782			112,530			-			1,286,460			8,269,685			12,753,020
Net increase (decrease) in contract owners’ equity resulting from operations		126,394			(633,608	)		53,481			(81,988	)		1,009,429			(1,506,072	)		20,713,441			(33,815,930	)
Equity transactions:
Purchase payments received from contract owners (note 4)		207			323			1			16			31,069			68,877			345,451			725,434
Transfers between funds		(31,833	)		(260,962	)		-			(104	)		(60,593	)		(44,802	)		(1,940,804	)		(497,480	)
Redemptions (notes 2, 3, and 4)		(128,145	)		(114,654	)		(18,695	)		(12,435	)		(407,450	)		(179,305	)		(6,838,460	)		(6,585,056	)
Adjustments to maintain reserves		405			1,365			1,536			8,922			(1,655	)		2,061			(1,664	)		(9,046	)
Net equity transactions		(159,366	)		(373,928	)		(17,158	)		(3,601	)		(438,629	)		(153,169	)		(8,435,477	)		(6,366,148	)
Net change in contract owners’ equity		(32,972	)		(1,007,536	)		36,323			(85,589	)		570,800			(1,659,241	)		12,277,964			(40,182,078	)
Contract owners’ equity at beginning of period		1,210,027			2,217,563			268,191			353,780			3,155,524			4,814,765			65,509,982			105,692,060
Contract owners’ equity at end of period	$	1,177,055			1,210,027			304,514			268,191			3,726,324			3,155,524			77,787,946			65,509,982
CHANGE IN UNITS:
Beginning units		98,385			123,455			-			-			68,783			71,928			2,277,310			2,478,033
Units purchased		3,553			14,811			-			-			1,309			2,396			78,765			90,053
Units redeemed		(16,162	)		(39,881	)		-			-			(9,365	)		(5,541	)		(327,050	)		(290,776	)
Ending units		85,776			98,385			-			-			60,727			68,783			2,029,025			2,277,310

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	OVGSS						OVIGS						OVSB						OVSBS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(10,441	)		(11,650	)		(6,785	)		(9,811	)		(21,132	)		(22,580	)		(9,002	)		(10,427	)
Realized gain (loss) on investments		(2,246	)		14,051			(80,551	)		(2,856	)		5,235			(457,244	)		1,408			(140,167	)
Change in unrealized gain (loss) on investments		108,706			(399,742	)		259,715			(500,213	)		147,493			177,363			39,157			60,793
Reinvested capital gains		64,776			108,123			-			157,120			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		160,795			(289,218	)		172,379			(355,760	)		131,596			(302,461	)		31,563			(89,801	)
Equity transactions:
Purchase payments received from contract owners (note 4)		-			4			21,291			15,987			1,077			7,740			92,047			-
Transfers between funds		(46,418	)		-			53,188			(83,629	)		(1,499	)		(17,081	)		6,049			(25,784	)
Redemptions (notes 2, 3, and 4)		(62,481	)		(44,249	)		(71,856	)		(43,377	)		(167,040	)		(271,498	)		(176,716	)		(46,768	)
Adjustments to maintain reserves		(215	)		1,758			(17	)		(70	)		(112	)		9,934			(622	)		7,968
Net equity transactions		(109,114	)		(42,487	)		2,606			(111,089	)		(167,574	)		(270,905	)		(79,242	)		(64,584	)
Net change in contract owners’ equity		51,681			(331,705	)		174,985			(466,849	)		(35,978	)		(573,366	)		(47,679	)		(154,385	)
Contract owners’ equity at beginning of period		548,473			880,178			832,164			1,299,013			1,831,185			2,404,551			517,500			671,885
Contract owners’ equity at end of period	$	600,154			548,473			1,007,149			832,164			1,795,207			1,831,185			469,821			517,500
CHANGE IN UNITS:
Beginning units		19,431			20,844			78,982			88,966			189,871			218,574			34,053			38,663
Units purchased		-			-			32,877			4,325			38,324			21,319			6,151			153
Units redeemed		(3,494	)		(1,413	)		(31,892	)		(14,309	)		(54,764	)		(50,022	)		(11,157	)		(4,763	)
Ending units		15,937			19,431			79,967			78,982			173,431			189,871			29,047			34,053

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	OVSC						OVSCS						WRASP						WRBDP
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	3,154			(37,573	)		(299	)		(1,003	)		433,087			197,778			393,607			369,733
Realized gain (loss) on investments		(38,368	)		122,017			(1,879	)		2,899			(972,914	)		(1,605,169	)		(596,287	)		(722,733	)
Change in unrealized gain (loss) on investments		1,014,427			(2,113,716	)		12,976			(33,378	)		5,827,529			(11,244,759	)		1,553,449			(5,688,722	)
Reinvested capital gains		-			740,809			-			11,263			-			3,771,831			-			761,647
Net increase (decrease) in contract owners’ equity resulting from operations		979,213			(1,288,463	)		10,798			(20,219	)		5,287,702			(8,880,319	)		1,350,769			(5,280,075	)
Equity transactions:
Purchase payments received from contract owners (note 4)		81,680			88,500			-			-			330,119			285,431			251,972			179,962
Transfers between funds		71,723			(172,592	)		-			-			(808,984	)		(876,758	)		646,970			(294,019	)
Redemptions (notes 2, 3, and 4)		(383,032	)		(414,748	)		(25,302	)		(11,192	)		(3,675,711	)		(3,873,385	)		(2,638,224	)		(2,610,749	)
Adjustments to maintain reserves		(671	)		(344	)		(3	)		(68	)		11,768			(17,075	)		(1,423	)		6,521
Net equity transactions		(230,300	)		(499,184	)		(25,305	)		(11,260	)		(4,142,808	)		(4,481,787	)		(1,740,705	)		(2,718,285	)
Net change in contract owners’ equity		748,913			(1,787,647	)		(14,507	)		(31,479	)		1,144,894			(13,362,106	)		(389,936	)		(7,998,360	)
Contract owners’ equity at beginning of period		6,053,381			7,841,028			87,907			119,386			44,077,759			57,439,865			24,290,606			32,288,966
Contract owners’ equity at end of period	$	6,802,294			6,053,381			73,400			87,907			45,222,653			44,077,759			23,900,670			24,290,606
CHANGE IN UNITS:
Beginning units		213,847			230,510			-			-			1,243,542			1,366,338			1,461,295			1,617,707
Units purchased		25,517			18,449			-			-			40,115			31,991			121,383			95,981
Units redeemed		(33,705	)		(35,112	)		-			-			(152,599	)		(154,787	)		(227,347	)		(252,393	)
Ending units		205,659			213,847			-			-			1,131,058			1,243,542			1,355,331			1,461,295

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	WRBP						WRCEP						WRDIV						WRENG
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(154	)		91			(467,092	)		(628,540	)		45,437			204,219			34,454			32,983
Realized gain (loss) on investments		(3,268	)		(21,420	)		684,927			509,919			(755,752	)		(628,806	)		(18,106	)		(104,872	)
Change in unrealized gain (loss) on investments		8,048			(4,136	)		6,675,301			(30,847,410	)		1,441,631			(2,461,102	)		32,746			709,276
Reinvested capital gains		-			17,226			6,407,683			14,803,829			114,242			1,788,493			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		4,626			(8,239	)		13,300,819			(16,162,202	)		845,558			(1,097,196	)		49,094			637,387
Equity transactions:
Purchase payments received from contract owners (note 4)		-			1			360,764			688,415			121,601			71,866			2,634			9,753
Transfers between funds		-			-			(2,552,896	)		(2,083,332	)		(186,504	)		(363,492	)		(57,520	)		(141,616	)
Redemptions (notes 2, 3, and 4)		(7,304	)		(7,545	)		(6,319,456	)		(7,963,197	)		(637,516	)		(539,860	)		(160,912	)		(60,421	)
Adjustments to maintain reserves		7,802			110			(13,065	)		(36,942	)		(124	)		362			(65	)		541
Net equity transactions		498			(7,434	)		(8,524,653	)		(9,395,056	)		(702,543	)		(831,124	)		(215,863	)		(191,743	)
Net change in contract owners’ equity		5,124			(15,673	)		4,776,166			(25,557,258	)		143,015			(1,928,320	)		(166,769	)		445,644
Contract owners’ equity at beginning of period		36,612			52,285			64,494,290			90,051,548			6,820,178			8,748,498			1,777,416			1,331,772
Contract owners’ equity at end of period	$	41,736			36,612			69,270,456			64,494,290			6,963,193			6,820,178			1,610,647			1,777,416
CHANGE IN UNITS:
Beginning units		-			-			1,847,851			2,109,236			262,463			295,122			185,316			206,560
Units purchased		-			-			20,344			47,258			15,683			11,258			9,128			37,778
Units redeemed		-			-			(245,874	)		(308,643	)		(40,804	)		(43,917	)		(31,130	)		(59,022	)
Ending units		-			-			1,622,321			1,847,851			237,342			262,463			163,314			185,316

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	WRGNR						WRGP						WRHIP						WRI2P
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	37,894			15,743			(1,026,320	)		(1,089,632	)		1,500,313			1,762,838			41,780			93,692
Realized gain (loss) on investments		(13,366	)		(80,632	)		(2,735,603	)		(1,093,266	)		(686,565	)		(571,078	)		(30,380	)		5,264
Change in unrealized gain (loss) on investments		(6,655	)		507,518			23,160,657			(58,424,063	)		2,077,992			(5,516,958	)		992,339			(2,076,080	)
Reinvested capital gains		-			-			9,327,474			24,495,420			-			-			-			596,733
Net increase (decrease) in contract owners’ equity resulting from operations		17,873			442,629			28,726,208			(36,111,541	)		2,891,740			(4,325,198	)		1,003,739			(1,380,391	)
Equity transactions:
Purchase payments received from contract owners (note 4)		101,152			54,516			791,564			1,363,035			112,355			230,808			86,692			88,234
Transfers between funds		(99,992	)		(403,316	)		(2,909,771	)		(4,890,359	)		(721,004	)		(1,682,264	)		(221,126	)		(55,136	)
Redemptions (notes 2, 3, and 4)		(238,604	)		(141,644	)		(9,060,966	)		(10,019,241	)		(2,203,053	)		(2,271,967	)		(537,053	)		(473,910	)
Adjustments to maintain reserves		(3,728	)		4,444			(240,423	)		(43,437	)		20,059			(16,723	)		631			810
Net equity transactions		(241,172	)		(486,000	)		(11,419,596	)		(13,590,002	)		(2,791,643	)		(3,740,146	)		(670,856	)		(440,002	)
Net change in contract owners’ equity		(223,299	)		(43,371	)		17,306,612			(49,701,543	)		100,097			(8,065,344	)		332,883			(1,820,393	)
Contract owners’ equity at beginning of period		2,691,927			2,735,298			83,021,387			132,722,930			29,141,266			37,206,610			7,237,578			9,057,971
Contract owners’ equity at end of period	$	2,468,628			2,691,927			100,327,999			83,021,387			29,241,363			29,141,266			7,570,461			7,237,578
CHANGE IN UNITS:
Beginning units		229,128			271,512			2,130,588			2,452,487			951,370			1,068,120			328,758			348,851
Units purchased		20,986			14,312			41,801			74,422			25,592			28,874			14,384			14,849
Units redeemed		(40,788	)		(56,696	)		(282,294	)		(396,321	)		(113,964	)		(145,624	)		(42,841	)		(34,942	)
Ending units		209,326			229,128			1,890,095			2,130,588			862,998			951,370			300,301			328,758

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	WRIP						WRLTBP						WRMCG						WRRESP
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(157,736	)		(54,074	)		26,890			9,204			(172,714	)		(183,929	)		37,896			(10,785	)
Realized gain (loss) on investments		(60,608	)		167,830			(49,345	)		(21,343	)		(690,842	)		42,264			(247,034	)		(45,684	)
Change in unrealized gain (loss) on investments		(308,389	)		(6,344,356	)		177,987			(254,404	)		1,662,149			(10,819,265	)		143,259			(2,013,524	)
Reinvested capital gains		3,193,783			2,449,712			-			31,845			1,896,440			3,641,622			379,130			612,319
Net increase (decrease) in contract owners’ equity resulting from operations		2,667,050			(3,780,888	)		155,532			(234,698	)		2,695,033			(7,319,308	)		313,251			(1,457,674	)
Equity transactions:
Purchase payments received from contract owners (note 4)		228,868			199,343			7,689			49,451			182,976			107,886			29,259			43,246
Transfers between funds		(543,650	)		(605,305	)		170,023			628,583			(452,020	)		107,733			108,914			(131,608	)
Redemptions (notes 2, 3, and 4)		(1,374,892	)		(1,292,393	)		(433,673	)		(399,324	)		(1,361,236	)		(1,168,342	)		(587,302	)		(318,366	)
Adjustments to maintain reserves		(16,377	)		7,835			(37	)		(72	)		(948	)		2,894			2,759			(1,721	)
Net equity transactions		(1,706,051	)		(1,690,520	)		(255,998	)		278,638			(1,631,228	)		(949,829	)		(446,370	)		(408,449	)
Net change in contract owners’ equity		960,999			(5,471,408	)		(100,466	)		43,940			1,063,805			(8,269,137	)		(133,119	)		(1,866,123	)
Contract owners’ equity at beginning of period		15,054,450			20,525,858			4,349,135			4,305,195			15,414,880			23,684,017			4,014,209			5,880,332
Contract owners’ equity at end of period	$	16,015,449			15,054,450			4,248,669			4,349,135			16,478,685			15,414,880			3,881,090			4,014,209
CHANGE IN UNITS:
Beginning units		636,694			709,129			429,266			402,902			326,607			343,769			139,542			151,566
Units purchased		17,703			16,963			56,938			90,299			23,006			32,076			9,833			7,062
Units redeemed		(83,589	)		(89,398	)		(82,235	)		(63,935	)		(54,544	)		(49,238	)		(25,410	)		(19,086	)
Ending units		570,808			636,694			403,969			429,266			295,069			326,607			123,965			139,542

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	WRSCP						WRSCV						WRSTP						WRVP
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(303,914	)		(350,627	)		(40,562	)		(52,093	)		(571,020	)		(606,760	)		6			8
Realized gain (loss) on investments		(2,227,976	)		(1,529,773	)		(355,179	)		(139,460	)		(870,911	)		(817,321	)		(283	)		(453	)
Change in unrealized gain (loss) on investments		1,240,269			(16,507,576	)		552,382			(1,675,365	)		15,021,765			(29,063,964	)		134			(369	)
Reinvested capital gains		4,369,712			7,325,692			468,706			988,875			2,820,568			6,925,888			255			632
Net increase (decrease) in contract owners’ equity resulting from operations		3,078,091			(11,062,284	)		625,347			(878,043	)		16,400,402			(23,562,157	)		112			(182	)
Equity transactions:
Purchase payments received from contract owners (note 4)		176,741			493,987			44,402			17,116			277,814			429,561			-			-
Transfers between funds		(582,088	)		(75,454	)		178,131			(9,989	)		(1,505,735	)		(140,359	)		-			-
Redemptions (notes 2, 3, and 4)		(2,488,978	)		(2,790,412	)		(566,994	)		(298,812	)		(4,706,831	)		(3,731,664	)		(468	)		(526	)
Adjustments to maintain reserves		(2,084	)		10,023			(121	)		1,872			(2,701	)		(36,311	)		(1,505	)		(762	)
Net equity transactions		(2,896,409	)		(2,361,856	)		(344,582	)		(289,813	)		(5,937,453	)		(3,478,773	)		(1,973	)		(1,288	)
Net change in contract owners’ equity		181,682			(13,424,140	)		280,765			(1,167,856	)		10,462,949			(27,040,930	)		(1,861	)		(1,470	)
Contract owners’ equity at beginning of period		27,344,450			40,768,590			4,450,132			5,617,988			46,371,233			73,412,163			1,861			3,331
Contract owners’ equity at end of period	$	27,526,132			27,344,450			4,730,897			4,450,132			56,834,182			46,371,233			-			1,861
CHANGE IN UNITS:
Beginning units		931,233			1,005,670			136,519			145,188			937,241			998,929			-			-
Units purchased		29,229			44,064			12,018			4,621			15,835			25,738			-			-
Units redeemed		(122,484	)		(118,501	)		(22,070	)		(13,290	)		(118,742	)		(87,426	)		-			-
Ending units		837,978			931,233			126,467			136,519			834,334			937,241			-			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	JABS						JACAS						JAFBS						JAGSEI
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	16,613			279			(827,679	)		(943,910	)		59,306			15,391			(8	)		-
Realized gain (loss) on investments		313			(76,007	)		1,835,683			1,412,398			(43,627	)		(39,147	)		(656	)		-
Change in unrealized gain (loss) on investments		176,944			(92,257	)		25,654,827			(57,080,172	)		76,052			(342,758	)		1,340			-
Reinvested capital gains		-			29,893			-			14,670,254			-			31,597			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		193,870			(138,092	)		26,662,831			(41,941,430	)		91,731			(334,917	)		676			-
Equity transactions:
Purchase payments received from contract owners (note 4)		2,883			127,067			417,427			780,297			3,040			18,788			-			-
Transfers between funds		1,103,414			492,069			(476,316	)		(3,052,084	)		722,876			(138,067	)		32,925			-
Redemptions (notes 2, 3, and 4)		(52,986	)		(24,331	)		(7,845,451	)		(8,958,520	)		(150,955	)		(337,557	)		(1,634	)		-
Adjustments to maintain reserves		(40	)		(21,562	)		(11,771	)		(37,970	)		(61	)		(36	)		(1	)		-
Net equity transactions		1,053,271			573,243			(7,916,111	)		(11,268,277	)		574,900			(456,872	)		31,290			-
Net change in contract owners’ equity		1,247,141			435,151			18,746,720			(53,209,707	)		666,631			(791,789	)		31,966			-
Contract owners’ equity at beginning of period		1,003,053			567,902			72,916,817			126,126,524			1,717,520			2,509,309			-			-
Contract owners’ equity at end of period	$	2,250,194			1,003,053			91,663,537			72,916,817			2,384,151			1,717,520			31,966			-
CHANGE IN UNITS:
Beginning units		104,282			47,252			2,191,307			2,482,609			177,158			220,257			-			-
Units purchased		114,611			67,203			97,388			66,038			78,142			10,453			3,784			-
Units redeemed		(2,681	)		(10,173	)		(292,936	)		(357,340	)		(19,828	)		(53,552	)		(909	)		-
Ending units		216,212			104,282			1,995,759			2,191,307			235,472			177,158			2,875			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	JAGTS						JAIGS						LZREMS						LJPMVS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(472,870	)		(450,835	)		97,497			185,114			43,364			26,667			120,427			-
Realized gain (loss) on investments		349,501			2,500,219			281,698			261,374			(3,576	)		(174,907	)		12,759			-
Change in unrealized gain (loss) on investments		17,496,718			(31,576,838	)		2,563,029			(4,361,820	)		195,621			(109,950	)		941,758			-
Reinvested capital gains		-			7,329,463			-			-			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		17,373,349			(22,197,991	)		2,942,224			(3,915,332	)		235,409			(258,190	)		1,074,944			-
Equity transactions:
Purchase payments received from contract owners (note 4)		248,994			437,779			164,134			298,069			1,006			5,328			5,942			-
Transfers between funds		3,152,378			(3,706,801	)		(722,411	)		(767,179	)		(5,461	)		(243,057	)		10,861,564			-
Redemptions (notes 2, 3, and 4)		(3,434,868	)		(2,776,794	)		(2,520,301	)		(2,770,586	)		(125,095	)		(75,158	)		(694,185	)		-
Adjustments to maintain reserves		1,480			913			7,430			50,432			(54	)		12,075			(361	)		-
Net equity transactions		(32,016	)		(6,044,903	)		(3,071,148	)		(3,189,264	)		(129,604	)		(300,812	)		10,172,960			-
Net change in contract owners’ equity		17,341,333			(28,242,894	)		(128,924	)		(7,104,596	)		105,805			(559,002	)		11,247,904			-
Contract owners’ equity at beginning of period		32,799,167			61,042,061			32,475,927			39,580,523			1,116,335			1,675,337			-			-
Contract owners’ equity at end of period	$	50,140,500			32,799,167			32,347,003			32,475,927			1,222,140			1,116,335			11,247,904			-
CHANGE IN UNITS:
Beginning units		1,621,044			1,874,552			1,902,947			2,094,936			122,236			154,042			-			-
Units purchased		290,583			179,551			59,332			44,919			38,687			9,111			1,149,427			-
Units redeemed		(288,371	)		(433,059	)		(229,951	)		(236,908	)		(50,288	)		(40,917	)		(131,194	)		-
Ending units		1,623,256			1,621,044			1,732,328			1,902,947			110,635			122,236			1,018,233			-

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	LOVTRC						M2IGSS						MMCGSC						MNDSC
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	30,157			17,563			(2,642	)		(2,873	)		(7,485	)		(8,401	)		(26,256	)		(28,222	)
Realized gain (loss) on investments		(69,223	)		(56,995	)		6,191			6,699			(6,192	)		(119,116	)		(167,702	)		(1,011,042	)
Change in unrealized gain (loss) on investments		87,007			(133,247	)		28,980			(92,448	)		78,052			(135,134	)		464,304			(837,917	)
Reinvested capital gains		-			1,927			11,648			31,688			6,304			71,522			-			848,567
Net increase (decrease) in contract owners’ equity resulting from operations		47,941			(170,752	)		44,177			(56,934	)		70,679			(191,129	)		270,346			(1,028,614	)
Equity transactions:
Purchase payments received from contract owners (note 4)		1,642			2,771			-			-			-			-			20,723			12,172
Transfers between funds		175,089			(121,640	)		-			-			(946	)		8,744			24,371			(214,290	)
Redemptions (notes 2, 3, and 4)		(88,377	)		(181,578	)		(19,468	)		(19,417	)		(24,739	)		(68,026	)		(152,947	)		(138,749	)
Adjustments to maintain reserves		(35	)		(42	)		(1	)		(4	)		(45	)		1,095			(113	)		(7,967	)
Net equity transactions		88,319			(300,489	)		(19,469	)		(19,421	)		(25,730	)		(58,187	)		(107,966	)		(348,834	)
Net change in contract owners’ equity		136,260			(471,241	)		24,708			(76,355	)		44,949			(249,316	)		162,380			(1,377,448	)
Contract owners’ equity at beginning of period		803,610			1,274,851			207,031			283,386			391,239			640,555			2,151,348			3,528,796
Contract owners’ equity at end of period	$	939,870			803,610			231,739			207,031			436,188			391,239			2,313,728			2,151,348
CHANGE IN UNITS:
Beginning units		83,960			112,961			-			-			14,503			16,560			89,513			101,904
Units purchased		38,223			16,855			-			-			10			331			6,288			4,095
Units redeemed		(28,480	)		(45,856	)		-			-			(915	)		(2,388	)		(10,422	)		(16,486	)
Ending units		93,703			83,960			-			-			13,598			14,503			85,379			89,513

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	MV2RIS						MV3MVS						MVFSC						MVIGSC
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(736	)		2,473			1,724			(722	)		50,168			(1,941	)		(278	)		(1,816	)
Realized gain (loss) on investments		(5,253	)		(58,751	)		(7,229	)		3,316			(291,083	)		3,711,220			869			(18,199	)
Change in unrealized gain (loss) on investments		37,180			(42,266	)		31,149			(73,264	)		15,240			(7,668,381	)		33,259			(55,990	)
Reinvested capital gains		-			8,917			11,229			29,095			1,578,971			1,551,523			13,419			16,974
Net increase (decrease) in contract owners’ equity resulting from operations		31,191			(89,627	)		36,873			(41,575	)		1,353,296			(2,407,579	)		47,269			(59,031	)
Equity transactions:
Purchase payments received from contract owners (note 4)		8,557			-			1,934			1,971			111,837			65,568			(247	)		1,677
Transfers between funds		(91,064	)		5,682			38,405			23,028			(1,032,496	)		(563,334	)		203,804			64,955
Redemptions (notes 2, 3, and 4)		(78,434	)		(11,773	)		(52,364	)		(20,571	)		(2,152,854	)		(2,289,540	)		(71,547	)		(63,697	)
Adjustments to maintain reserves		(15	)		2,093			(10	)		4,638			12,130			195,590			(19	)		684
Net equity transactions		(160,956	)		(3,998	)		(12,035	)		9,066			(3,061,383	)		(2,591,716	)		131,991			3,619
Net change in contract owners’ equity		(129,765	)		(93,625	)		24,838			(32,509	)		(1,708,087	)		(4,999,295	)		179,260			(55,412	)
Contract owners’ equity at beginning of period		364,537			458,162			332,683			365,192			24,553,019			29,552,314			289,150			344,562
Contract owners’ equity at end of period	$	234,772			364,537			357,521			332,683			22,844,932			24,553,019			468,410			289,150
CHANGE IN UNITS:
Beginning units		30,479			31,165			20,922			20,685			807,511			902,471			25,646			25,675
Units purchased		3,588			425			2,745			3,196			15,957			37,811			30,523			10,831
Units redeemed		(16,447	)		(1,111	)		(3,437	)		(2,959	)		(117,477	)		(132,771	)		(19,448	)		(10,860	)
Ending units		17,620			30,479			20,230			20,922			705,991			807,511			36,721			25,646

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	MVIVSC						MSEM						MSGI2						MSVEG2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(87,215	)		(92,913	)		157,374			155,775			18,610			27,703			(12,319	)		(6,717	)
Realized gain (loss) on investments		(88,626	)		2,015,057			(130,554	)		(177,931	)		(76,656	)		6,276			(200,271	)		(915,070	)
Change in unrealized gain (loss) on investments		1,178,326			(7,377,784	)		185,369			(574,211	)		(114,405	)		(280,285	)		439,510			(104,260	)
Reinvested capital gains		995,573			635,777			-			-			214,623			96,544			-			338,017
Net increase (decrease) in contract owners’ equity resulting from operations		1,998,058			(4,819,863	)		212,189			(596,367	)		42,172			(149,762	)		226,920			(688,030	)
Equity transactions:
Purchase payments received from contract owners (note 4)		45,364			45,255			4,744			46,664			3,829			61,585			2,278			6,764
Transfers between funds		(866,197	)		(496,064	)		(39,646	)		(153,295	)		(119,435	)		211,789			588,439			(94,049	)
Redemptions (notes 2, 3, and 4)		(942,068	)		(1,254,206	)		(168,347	)		(196,883	)		(178,158	)		(189,125	)		(125,758	)		(20,237	)
Adjustments to maintain reserves		51			20,607			(133	)		(228	)		(76	)		-			(44	)		75
Net equity transactions		(1,762,850	)		(1,684,408	)		(203,382	)		(303,742	)		(293,840	)		84,249			464,915			(107,447	)
Net change in contract owners’ equity		235,208			(6,504,271	)		8,807			(900,109	)		(251,668	)		(65,513	)		691,835			(795,477	)
Contract owners’ equity at beginning of period		13,187,541			19,691,812			2,178,024			3,078,133			1,608,066			1,673,579			443,048			1,238,525
Contract owners’ equity at end of period	$	13,422,749			13,187,541			2,186,831			2,178,024			1,356,398			1,608,066			1,134,883			443,048
CHANGE IN UNITS:
Beginning units		592,899			669,015			61,839			70,779			134,161			126,847			114,858			126,640
Units purchased		18,473			25,914			216			1,050			3,255			32,613			456,240			109,122
Units redeemed		(91,126	)		(102,030	)		(6,040	)		(9,990	)		(27,657	)		(25,299	)		(370,454	)		(120,904	)
Ending units		520,246			592,899			56,015			61,839			109,759			134,161			200,644			114,858

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	MSVMG						MSVRE						DTRTFB						EIF
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(45	)		(1,022	)		2,320			(2,228	)		12,364			9,296			116,530			55,464
Realized gain (loss) on investments		(51,061	)		(20,866	)		(5,816	)		23,991			(5,912	)		(72,518	)		364,838			803,990
Change in unrealized gain (loss) on investments		54,842			(69,462	)		51,750			(281,114	)		21,349			(31,656	)		(117,943	)		(3,656,643	)
Reinvested capital gains		-			13,720			-			95,531			-			-			1,371,322			1,805,949
Net increase (decrease) in contract owners’ equity resulting from operations		3,736			(77,630	)		48,254			(163,820	)		27,801			(94,878	)		1,734,747			(991,240	)
Equity transactions:
Purchase payments received from contract owners (note 4)		8,879			-			435			535			-			3,715			74,788			414,445
Transfers between funds		-			(41,626	)		4,119			(57,520	)		84,537			78,328			(460,521	)		(1,066,586	)
Redemptions (notes 2, 3, and 4)		(33,298	)		(17,927	)		(6,514	)		(57,587	)		(42,246	)		(171,585	)		(1,364,981	)		(1,377,078	)
Adjustments to maintain reserves		(836	)		(1,417	)		(1,405	)		87			(28	)		(2,022	)		(459	)		(20,430	)
Net equity transactions		(25,255	)		(60,970	)		(3,365	)		(114,485	)		42,263			(91,564	)		(1,751,173	)		(2,049,649	)
Net change in contract owners’ equity		(21,519	)		(138,600	)		44,889			(278,305	)		70,064			(186,442	)		(16,426	)		(3,040,889	)
Contract owners’ equity at beginning of period		21,519			160,119			380,233			658,538			518,127			704,569			17,337,136			20,378,025
Contract owners’ equity at end of period	$	-			21,519			425,122			380,233			588,191			518,127			17,320,710			17,337,136
CHANGE IN UNITS:
Beginning units		1,159			3,138			9,194			11,558			55,999			65,370			504,949			562,164
Units purchased		364			-			226			284			15,881			14,427			9,826			32,525
Units redeemed		(1,523	)		(1,979	)		(245	)		(2,648	)		(11,122	)		(23,798	)		(59,145	)		(89,740	)
Ending units		-			1,159			9,175			9,194			60,758			55,999			455,630			504,949

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	GBF						GBF2						GEM						GEM2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	695,626			456,448			3,532			(2,534	)		41,509			(19,113	)		(583	)		(1,949	)
Realized gain (loss) on investments		(930,579	)		(872,264	)		(9,409	)		(98,035	)		(28,174	)		135,607			6			(10,373	)
Change in unrealized gain (loss) on investments		1,795,807			(7,619,611	)		21,081			(35,878	)		199,028			(2,806,443	)		4,046			(31,300	)
Reinvested capital gains		-			-			-			-			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		1,560,854			(8,035,427	)		15,204			(136,447	)		212,363			(2,689,949	)		3,469			(43,622	)
Equity transactions:
Purchase payments received from contract owners (note 4)		331,031			585,608			262			-			65,127			110,267			4,647			-
Transfers between funds		(310,686	)		(2,237,282	)		20,537			(5,888	)		(77,376	)		189,632			2,337			13,394
Redemptions (notes 2, 3, and 4)		(4,174,237	)		(5,206,073	)		(141,503	)		(154,570	)		(683,832	)		(1,010,120	)		(14,113	)		(16,375	)
Adjustments to maintain reserves		46,226			38,412			(4,317	)		3,203			(908	)		1,210			(23	)		(9,185	)
Net equity transactions		(4,107,666	)		(6,819,335	)		(125,021	)		(157,255	)		(696,989	)		(709,011	)		(7,152	)		(12,166	)
Net change in contract owners’ equity		(2,546,812	)		(14,854,762	)		(109,817	)		(293,702	)		(484,626	)		(3,398,960	)		(3,683	)		(55,788	)
Contract owners’ equity at beginning of period		47,384,528			62,239,290			701,788			995,490			7,558,476			10,957,436			144,794			200,582
Contract owners’ equity at end of period	$	44,837,716			47,384,528			591,971			701,788			7,073,850			7,558,476			141,111			144,794
CHANGE IN UNITS:
Beginning units		2,910,714			3,315,114			65,399			79,729			365,849			394,431			17,418			17,731
Units purchased		118,787			116,395			2,284			1,183			18,874			38,661			1,301			1,546
Units redeemed		(368,328	)		(520,795	)		(13,401	)		(15,513	)		(52,590	)		(67,243	)		(2,057	)		(1,859	)
Ending units		2,661,173			2,910,714			54,282			65,399			332,133			365,849			16,662			17,418

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	GIG						GVAAA2						GVABD2						GVAGG2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	183,601			304,113			(866,496	)		(961,665	)		(95,765	)		(113,022	)		(204,594	)		(217,604	)
Realized gain (loss) on investments		(155,114	)		35,225			435,055			1,059,497			(192,793	)		(50,660	)		561,949			702,554
Change in unrealized gain (loss) on investments		2,082,920			(3,932,174	)		1,586,370			(17,615,528	)		559,710			(1,585,393	)		1,268,055			(8,251,262	)
Reinvested capital gains		-			1,463,169			7,842,851			3,162,149			-			192,350			1,813,753			1,110,290
Net increase (decrease) in contract owners’ equity resulting from operations		2,111,407			(2,129,667	)		8,997,780			(14,355,547	)		271,152			(1,556,725	)		3,439,163			(6,656,022	)
Equity transactions:
Purchase payments received from contract owners (note 4)		37,447			53,996			596,571			525,120			51,976			201,887			41,153			165,524
Transfers between funds		(817,658	)		(186,964	)		(216,945	)		(683,123	)		575,095			(121,856	)		398,917			(897,493	)
Redemptions (notes 2, 3, and 4)		(840,545	)		(1,283,615	)		(7,269,016	)		(7,504,098	)		(1,976,586	)		(1,427,555	)		(1,800,262	)		(1,766,644	)
Adjustments to maintain reserves		(3,618	)		28,618			30,339			3,532			302			(655	)		2,622			2,655
Net equity transactions		(1,624,374	)		(1,387,965	)		(6,859,051	)		(7,658,569	)		(1,349,213	)		(1,348,179	)		(1,357,570	)		(2,495,958	)
Net change in contract owners’ equity		487,033			(3,517,632	)		2,138,729			(22,014,116	)		(1,078,061	)		(2,904,904	)		2,081,593			(9,151,980	)
Contract owners’ equity at beginning of period		11,057,264			14,574,896			76,580,211			98,594,327			8,962,473			11,867,377			17,176,294			26,328,274
Contract owners’ equity at end of period	$	11,544,297			11,057,264			78,718,940			76,580,211			7,884,412			8,962,473			19,257,887			17,176,294
CHANGE IN UNITS:
Beginning units		637,539			716,920			3,376,092			3,705,844			746,459			853,081			613,354			696,358
Units purchased		11,007			12,266			142,164			142,971			96,016			116,606			51,054			22,963
Units redeemed		(96,421	)		(91,647	)		(433,479	)		(472,723	)		(206,434	)		(223,228	)		(95,484	)		(105,967	)
Ending units		552,125			637,539			3,084,777			3,376,092			636,041			746,459			568,924			613,354

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	GVAGI2						GVAGR2						GVDMA						GVDMC
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(228,548	)		(239,586	)		(434,603	)		(482,676	)		(684,960	)		(720,604	)		(260,564	)		(310,686	)
Realized gain (loss) on investments		199,302			279,828			1,130,953			2,312,730			(1,773,396	)		722,913			(1,388,954	)		(683,395	)
Change in unrealized gain (loss) on investments		2,643,572			(4,957,998	)		6,804,958			(23,602,217	)		10,304,368			(32,762,529	)		3,681,239			(8,087,717	)
Reinvested capital gains		1,795,709			501,669			4,171,181			4,848,837			594,483			19,264,474			-			4,495,294
Net increase (decrease) in contract owners’ equity resulting from operations		4,410,035			(4,416,087	)		11,672,489			(16,923,326	)		8,440,495			(13,495,746	)		2,031,721			(4,586,504	)
Equity transactions:
Purchase payments received from contract owners (note 4)		29,771			100,543			124,357			448,746			549,243			848,065			224,792			326,882
Transfers between funds		23,279			(443,994	)		(897,455	)		(2,496,620	)		(14,563	)		(142,603	)		(409,689	)		(385,619	)
Redemptions (notes 2, 3, and 4)		(2,123,106	)		(1,389,929	)		(4,192,109	)		(3,806,123	)		(4,290,338	)		(5,357,519	)		(3,691,556	)		(2,903,772	)
Adjustments to maintain reserves		(496	)		8,771			8,674			(1,397	)		340,700			(37,216	)		4,054			(1,204	)
Net equity transactions		(2,070,552	)		(1,724,609	)		(4,956,533	)		(5,855,394	)		(3,414,958	)		(4,689,273	)		(3,872,399	)		(2,963,713	)
Net change in contract owners’ equity		2,339,483			(6,140,696	)		6,715,956			(22,778,720	)		5,025,537			(18,185,019	)		(1,840,678	)		(7,550,217	)
Contract owners’ equity at beginning of period		19,202,398			25,343,094			34,322,039			57,100,759			53,324,595			71,509,614			22,941,066			30,491,283
Contract owners’ equity at end of period	$	21,541,881			19,202,398			41,037,995			34,322,039			58,350,132			53,324,595			21,100,388			22,941,066
CHANGE IN UNITS:
Beginning units		754,181			818,588			987,915			1,135,715			1,985,264			2,139,150			1,165,340			1,313,267
Units purchased		21,054			27,486			55,958			32,546			39,182			47,984			18,029			24,500
Units redeemed		(94,051	)		(91,893	)		(177,575	)		(180,346	)		(171,122	)		(201,870	)		(220,077	)		(172,427	)
Ending units		681,184			754,181			866,298			987,915			1,853,324			1,985,264			963,292			1,165,340

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	GVEX1						GVEX2						GVIDA						GVIDC
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	3,839			(430	)		26,396			(30,084	)		(303,310	)		(317,406	)		(162,343	)		(197,258	)
Realized gain (loss) on investments		(403,468	)		(126,034	)		(8,436,123	)		(4,489,351	)		(850,329	)		(229,715	)		(453,109	)		(109,327	)
Change in unrealized gain (loss) on investments		607,025			(634,856	)		15,956,326			(27,273,490	)		5,137,297			(13,003,936	)		1,481,961			(3,280,667	)
Reinvested capital gains		1,074			593,631			44,597			23,498,660			293,187			7,149,912			-			1,146,298
Net increase (decrease) in contract owners’ equity resulting from operations		208,470			(167,689	)		7,591,196			(8,294,265	)		4,276,845			(6,401,145	)		866,509			(2,440,954	)
Equity transactions:
Purchase payments received from contract owners (note 4)		22,353			-			847,105			1,660,025			283,089			277,019			314,406			71,846
Transfers between funds		418,558			23,988			1,045,206			(99,743	)		(389,294	)		(159,061	)		(1,791,929	)		(906,621	)
Redemptions (notes 2, 3, and 4)		(180,525	)		(107,840	)		(2,627,759	)		(3,707,338	)		(1,952,479	)		(1,834,773	)		(2,015,132	)		(1,380,215	)
Adjustments to maintain reserves		(15	)		(34,119	)		2,146			7,273			113			55,804			12,571			(5,622	)
Net equity transactions		260,371			(117,971	)		(733,302	)		(2,139,783	)		(2,058,571	)		(1,661,011	)		(3,480,084	)		(2,220,612	)
Net change in contract owners’ equity		468,841			(285,660	)		6,857,894			(10,434,048	)		2,218,274			(8,062,156	)		(2,613,575	)		(4,661,566	)
Contract owners’ equity at beginning of period		792,448			1,078,108			31,916,145			42,350,193			24,728,832			32,790,988			14,704,771			19,366,337
Contract owners’ equity at end of period	$	1,261,289			792,448			38,774,039			31,916,145			26,947,106			24,728,832			12,091,196			14,704,771
CHANGE IN UNITS:
Beginning units		58,190			63,892			1,270,982			1,358,570			859,280			914,569			966,213			1,103,963
Units purchased		32,205			5,706			189,488			267,560			12,184			11,708			33,399			16,739
Units redeemed		(15,929	)		(11,408	)		(219,881	)		(355,148	)		(78,042	)		(66,997	)		(262,621	)		(154,489	)
Ending units		74,466			58,190			1,240,589			1,270,982			793,422			859,280			736,991			966,213

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	GVIDM						GVIX8						HIBF						IDPG2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(1,067,739	)		(1,198,530	)		47,525			106,289			876,063			854,929			(5,365	)		(5,856	)
Realized gain (loss) on investments		(6,499,593	)		(372,003	)		50,652			57,933			(495,800	)		(352,821	)		(29,619	)		19,528
Change in unrealized gain (loss) on investments		18,700,317			(48,402,263	)		552,844			(986,021	)		1,688,703			(3,528,353	)		95,604			(207,352	)
Reinvested capital gains		-			29,184,933			-			-			-			-			-			99,369
Net increase (decrease) in contract owners’ equity resulting from operations		11,132,985			(20,787,863	)		651,021			(821,799	)		2,068,966			(3,026,245	)		60,620			(94,311	)
Equity transactions:
Purchase payments received from contract owners (note 4)		690,577			942,772			49,403			42,198			97,774			209,867			12,253			10,726
Transfers between funds		(2,273,544	)		(3,529,890	)		177,230			106,220			(229,278	)		(933,295	)		(48,625	)		57,052
Redemptions (notes 2, 3, and 4)		(8,033,627	)		(10,497,215	)		(439,470	)		(414,540	)		(1,873,606	)		(1,776,295	)		(115,240	)		(9,523	)
Adjustments to maintain reserves		108,887			80,054			(148	)		(482	)		18,917			4,023			(7	)		(4,189	)
Net equity transactions		(9,507,707	)		(13,004,279	)		(212,985	)		(266,604	)		(1,986,193	)		(2,495,700	)		(151,619	)		54,066
Net change in contract owners’ equity		1,625,278			(33,792,142	)		438,036			(1,088,403	)		82,773			(5,521,945	)		(90,999	)		(40,245	)
Contract owners’ equity at beginning of period		88,920,691			122,712,833			4,220,244			5,308,647			18,536,481			24,058,426			559,868			600,113
Contract owners’ equity at end of period	$	90,545,969			88,920,691			4,658,280			4,220,244			18,619,254			18,536,481			468,869			559,868
CHANGE IN UNITS:
Beginning units		3,813,418			4,340,198			355,440			377,505			704,635			796,592			42,739			38,490
Units purchased		41,705			59,471			51,407			18,933			27,648			59,685			902			4,957
Units redeemed		(431,751	)		(586,251	)		(69,116	)		(40,998	)		(99,656	)		(151,642	)		(11,668	)		(708	)
Ending units		3,423,372			3,813,418			337,731			355,440			632,627			704,635			31,973			42,739

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	IDPGI2						MCIF						MCIF2						MSBF
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(628	)		(500	)		59,381			18,430			(16,659	)		(19,373	)		1,020,444			608,004
Realized gain (loss) on investments		(62	)		(1,696	)		(2,352,134	)		(1,133,556	)		(200,635	)		(78,197	)		(250,058	)		(225,396	)
Change in unrealized gain (loss) on investments		6,960			(10,954	)		7,781,549			(28,695,551	)		374,842			(912,366	)		(338,580	)		(1,282,166	)
Reinvested capital gains		-			5,292			3,320,711			17,897,949			109,745			606,608			1,255,592			-
Net increase (decrease) in contract owners’ equity resulting from operations		6,270			(7,858	)		8,809,507			(11,912,728	)		267,293			(403,328	)		1,687,398			(899,558	)
Equity transactions:
Purchase payments received from contract owners (note 4)		1,002			922			459,661			996,948			262			733			326,794			155,683
Transfers between funds		14,220			-			(1,303,034	)		(1,397,905	)		8,072			(23,715	)		15,661			422,743
Redemptions (notes 2, 3, and 4)		(3	)		(3	)		(7,073,687	)		(6,800,934	)		(295,010	)		(101,724	)		(2,471,228	)		(2,798,403	)
Adjustments to maintain reserves		(10	)		(515	)		20,199			(21,656	)		181			2,311			21,602			(7,816	)
Net equity transactions		15,209			404			(7,896,861	)		(7,223,547	)		(286,495	)		(122,395	)		(2,107,171	)		(2,227,793	)
Net change in contract owners’ equity		21,479			(7,454	)		912,646			(19,136,275	)		(19,202	)		(525,723	)		(419,773	)		(3,127,351	)
Contract owners’ equity at beginning of period		47,926			55,380			64,785,652			83,921,927			2,144,482			2,670,205			23,879,965			27,007,316
Contract owners’ equity at end of period	$	69,405			47,926			65,698,298			64,785,652			2,125,280			2,144,482			23,460,192			23,879,965
CHANGE IN UNITS:
Beginning units		3,995			3,922			898,210			995,604			245,286			259,482			1,059,957			1,159,295
Units purchased		1,242			73			17,705			23,989			2,302			596			102,406			126,737
Units redeemed		(1	)		-			(122,488	)		(121,383	)		(33,975	)		(14,792	)		(195,398	)		(226,075	)
Ending units		5,236			3,995			793,427			898,210			213,613			245,286			966,965			1,059,957

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NAMAA2						NAMGI2						NCPG2						NCPGI2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(22,001	)		(23,233	)		(3,441	)		(3,064	)		(1,504	)		(1,517	)		(2,224	)		(2,314	)
Realized gain (loss) on investments		(67,667	)		1,195			1,195			10,106			(69	)		14,458			(30	)		7,769
Change in unrealized gain (loss) on investments		211,028			(777,162	)		47,333			(52,489	)		14,044			(37,422	)		22,451			(36,492	)
Reinvested capital gains		154,073			449,821			23,286			-			2,365			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		275,433			(349,379	)		68,373			(45,447	)		14,836			(24,481	)		20,197			(31,037	)
Equity transactions:
Purchase payments received from contract owners (note 4)		1,698			877			-			31,973			4,525			3,437			198			333
Transfers between funds		80,481			(16,851	)		-			29,720			1,064			(148	)		(3,097	)		4,299
Redemptions (notes 2, 3, and 4)		(221,980	)		(48,958	)		(12,610	)		(27,034	)		(1,878	)		(18,870	)		(108	)		(506	)
Adjustments to maintain reserves		(44	)		(15	)		(31	)		(6,494	)		2			(733	)		(12	)		(1,589	)
Net equity transactions		(139,845	)		(64,947	)		(12,641	)		28,165			3,713			(16,314	)		(3,019	)		2,537
Net change in contract owners’ equity		135,588			(414,326	)		55,732			(17,282	)		18,549			(40,795	)		17,178			(28,500	)
Contract owners’ equity at beginning of period		1,857,574			2,271,900			302,766			320,048			129,966			170,761			182,846			211,346
Contract owners’ equity at end of period	$	1,993,162			1,857,574			358,498			302,766			148,515			129,966			200,024			182,846
CHANGE IN UNITS:
Beginning units		140,261			145,338			18,391			16,299			9,651			10,643			15,017			14,782
Units purchased		9,079			6,134			-			3,760			400			239			16			4,128
Units redeemed		(19,128	)		(11,211	)		(690	)		(1,668	)		(137	)		(1,231	)		(255	)		(3,893	)
Ending units		130,212			140,261			17,701			18,391			9,914			9,651			14,778			15,017

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NVAMV1						NVAMV2						NVAMVX						NVAMVZ
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	589,707			59,030			(2,797	)		(8,449	)		112,810			27,075			1,188			(9,961	)
Realized gain (loss) on investments		1,145,287			2,422,655			(10,840	)		223,375			551,307			914,400			60,715			90,759
Change in unrealized gain (loss) on investments		(22,754	)		(20,116,031	)		23,410			(379,922	)		(340,982	)		(3,604,277	)		(39,906	)		(422,771	)
Reinvested capital gains		5,496,153			14,743,155			55,379			143,908			846,848			2,220,010			97,672			270,347
Net increase (decrease) in contract owners’ equity resulting from operations		7,208,393			(2,891,191	)		65,152			(21,088	)		1,169,983			(442,792	)		119,669			(71,626	)
Equity transactions:
Purchase payments received from contract owners (note 4)		192,780			199,217			-			-			201,649			334,425			680			1,465
Transfers between funds		(2,839,686	)		(2,959,194	)		-			(24,844	)		(256,418	)		(708,358	)		(93,208	)		(103,663	)
Redemptions (notes 2, 3, and 4)		(9,573,621	)		(8,741,867	)		(82,554	)		(28,081	)		(1,338,273	)		(1,172,106	)		(127,939	)		(177,492	)
Adjustments to maintain reserves		53,895			(77,478	)		(63	)		(15,178	)		(376	)		418			29			(95	)
Net equity transactions		(12,166,632	)		(11,579,322	)		(82,617	)		(68,103	)		(1,393,418	)		(1,545,621	)		(220,438	)		(279,785	)
Net change in contract owners’ equity		(4,958,239	)		(14,470,513	)		(17,465	)		(89,191	)		(223,435	)		(1,988,413	)		(100,769	)		(351,411	)
Contract owners’ equity at beginning of period		104,770,216			119,240,729			1,036,408			1,125,599			15,967,899			17,956,312			1,848,029			2,199,440
Contract owners’ equity at end of period	$	99,811,977			104,770,216			1,018,943			1,036,408			15,744,464			15,967,899			1,747,260			1,848,029
CHANGE IN UNITS:
Beginning units		2,525,730			2,809,070			28,574			30,105			1,037,297			1,141,306			108,994			125,133
Units purchased		20,954			24,107			27			-			67,078			131,637			1,200			321
Units redeemed		(310,535	)		(307,447	)		(2,221	)		(1,531	)		(155,307	)		(235,646	)		(14,527	)		(16,460	)
Ending units		2,236,149			2,525,730			26,380			28,574			949,068			1,037,297			95,667			108,994

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NVCBD1						NVCBD2						NVCCA2						NVCCN2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	120,420			117,081			1,445			(13	)		(43,595	)		(47,075	)		(68,978	)		(86,781	)
Realized gain (loss) on investments		(606,589	)		(290,855	)		(588	)		(35,019	)		2,362			8,959			(14,776	)		(28,531	)
Change in unrealized gain (loss) on investments		769,653			(1,158,402	)		4,164			(1,238	)		289,181			(898,331	)		381,852			(1,170,134	)
Reinvested capital gains		-			10,001			-			204			276,671			176,029			117,937			155,428
Net increase (decrease) in contract owners’ equity resulting from operations		283,484			(1,322,175	)		5,021			(36,066	)		524,619			(760,418	)		416,035			(1,130,018	)
Equity transactions:
Purchase payments received from contract owners (note 4)		8,538			43,907			-			-			28,519			26,092			8,912			36,178
Transfers between funds		(706,048	)		2,720,405			(374	)		(990	)		(106,959	)		(61,475	)		29,353			(419,807	)
Redemptions (notes 2, 3, and 4)		(1,284,187	)		(1,094,207	)		(2,941	)		(7,329	)		(416,253	)		(260,516	)		(788,990	)		(1,134,225	)
Adjustments to maintain reserves		(14	)		(52	)		(5	)		(17	)		438			(20	)		24,852			(5,784	)
Net equity transactions		(1,981,711	)		1,670,053			(3,320	)		(8,336	)		(494,255	)		(295,919	)		(725,873	)		(1,523,638	)
Net change in contract owners’ equity		(1,698,227	)		347,878			1,701			(44,402	)		30,364			(1,056,337	)		(309,838	)		(2,653,656	)
Contract owners’ equity at beginning of period		8,413,957			8,066,079			174,619			219,021			3,771,252			4,827,589			6,035,725			8,689,381
Contract owners’ equity at end of period	$	6,715,730			8,413,957			176,320			174,619			3,801,616			3,771,252			5,725,887			6,035,725
CHANGE IN UNITS:
Beginning units		674,580			545,726			16,704			17,439			208,434			222,373			452,243			564,593
Units purchased		47,637			295,360			176			23			1,531			1,856			9,406			21,137
Units redeemed		(205,604	)		(166,506	)		(467	)		(758	)		(27,793	)		(15,795	)		(62,845	)		(133,487	)
Ending units		516,613			674,580			16,413			16,704			182,172			208,434			398,804			452,243

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NVCMA2						NVCMC2						NVCMD2						NVCRA2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(57,636	)		(64,917	)		(43,590	)		(52,909	)		(114,881	)		(129,873	)		(34,024	)		(34,416	)
Realized gain (loss) on investments		15,573			29,458			(22,100	)		(10,072	)		(3,287	)		(61,738	)		64,839			66,212
Change in unrealized gain (loss) on investments		419,970			(961,520	)		274,598			(829,231	)		707,246			(2,009,974	)		306,285			(627,850	)
Reinvested capital gains		276,333			88,453			192,450			131,331			598,560			303,622			189,477			11,643
Net increase (decrease) in contract owners’ equity resulting from operations		654,240			(908,526	)		401,358			(760,881	)		1,187,638			(1,897,963	)		526,577			(584,411	)
Equity transactions:
Purchase payments received from contract owners (note 4)		27,444			38,168			9,408			198,512			67,549			86,213			62,421			61,435
Transfers between funds		43,989			60,860			(220,263	)		84,694			(369,345	)		(295,601	)		9,827			(152,664	)
Redemptions (notes 2, 3, and 4)		(316,989	)		(648,579	)		(492,204	)		(785,574	)		(1,821,495	)		(1,096,316	)		(108,393	)		(134,006	)
Adjustments to maintain reserves		528,433			159			(1,339	)		(1,418	)		441,370			2,771			(67	)		2,826
Net equity transactions		282,877			(549,392	)		(704,398	)		(503,786	)		(1,681,921	)		(1,302,933	)		(36,212	)		(222,409	)
Net change in contract owners’ equity		937,117			(1,457,918	)		(303,040	)		(1,264,667	)		(494,283	)		(3,200,896	)		490,365			(806,820	)
Contract owners’ equity at beginning of period		4,160,995			5,618,913			4,281,432			5,546,099			9,945,473			13,146,369			2,920,496			3,727,316
Contract owners’ equity at end of period	$	5,098,112			4,160,995			3,978,392			4,281,432			9,451,190			9,945,473			3,410,861			2,920,496
CHANGE IN UNITS:
Beginning units		173,392			188,821			281,268			313,782			543,283			611,366			151,643			162,254
Units purchased		4,458			11,533			5,038			42,358			13,229			28,378			15,779			4,521
Units redeemed		(13,928	)		(26,962	)		(50,265	)		(74,872	)		(130,522	)		(96,461	)		(17,680	)		(15,132	)
Ending units		163,922			173,392			236,041			281,268			425,990			543,283			149,742			151,643

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NVCRB2						NVDBL2						NVDCA2						NVFIII
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(98,780	)		(105,394	)		(63,534	)		(71,471	)		(25,570	)		(29,006	)		5,096			2,527
Realized gain (loss) on investments		(26,468	)		(88,405	)		(224,885	)		(99,350	)		(404,093	)		(59,719	)		(5,604	)		(59,746	)
Change in unrealized gain (loss) on investments		675,612			(1,624,857	)		903,473			(2,271,184	)		738,271			(1,348,909	)		15,597			(11,863	)
Reinvested capital gains		415,812			289,182			-			1,244,054			2,195			864,483			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		966,176			(1,529,474	)		615,054			(1,197,951	)		310,803			(573,151	)		15,089			(69,082	)
Equity transactions:
Purchase payments received from contract owners (note 4)		14,358			17,263			36,217			45,808			12,851			26,128			403			110
Transfers between funds		1,107,788			113,169			(103,295	)		(307,698	)		(448,865	)		(98,578	)		17,166			34,805
Redemptions (notes 2, 3, and 4)		(432,263	)		(1,066,250	)		(577,506	)		(808,810	)		(374,020	)		(159,962	)		(53,155	)		(92,916	)
Adjustments to maintain reserves		648			92			1,551			3,925			870			8,862			(19	)		387
Net equity transactions		690,531			(935,726	)		(643,033	)		(1,066,775	)		(809,164	)		(223,550	)		(35,605	)		(57,614	)
Net change in contract owners’ equity		1,656,707			(2,465,200	)		(27,979	)		(2,264,726	)		(498,361	)		(796,701	)		(20,516	)		(126,696	)
Contract owners’ equity at beginning of period		7,921,399			10,386,599			5,552,024			7,816,750			2,374,252			3,170,953			343,148			469,844
Contract owners’ equity at end of period	$	9,578,106			7,921,399			5,524,045			5,552,024			1,875,891			2,374,252			322,632			343,148
CHANGE IN UNITS:
Beginning units		489,750			547,684			292,839			347,682			100,104			109,507			37,189			43,475
Units purchased		70,292			25,092			3,818			28,645			4,310			1,956			8,303			13,728
Units redeemed		(28,745	)		(83,026	)		(36,386	)		(83,488	)		(35,821	)		(11,359	)		(11,908	)		(20,014	)
Ending units		531,297			489,750			260,271			292,839			68,593			100,104			33,584			37,189

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NVGEII						NVIE6						NVLCP1						NVLCP2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	5,154			(215	)		9,440			512			24,331			14,074			33,231			15,709
Realized gain (loss) on investments		1,995			(42,615	)		1,057			(149	)		(39,188	)		(39,059	)		(84,275	)		(10,835	)
Change in unrealized gain (loss) on investments		85,755			(33,036	)		29,556			(7,649	)		69,843			(161,119	)		148,182			(283,573	)
Reinvested capital gains		-			-			-			2,869			-			12,119			-			18,098
Net increase (decrease) in contract owners’ equity resulting from operations		92,904			(75,866	)		40,053			(4,417	)		54,986			(173,985	)		97,138			(260,601	)
Equity transactions:
Purchase payments received from contract owners (note 4)		621			20,300			(585	)		-			3,016			9,766			2,880			2,880
Transfers between funds		493,890			(224,864	)		464,593			-			182,552			(188,658	)		289,510			20,266
Redemptions (notes 2, 3, and 4)		(6,619	)		(26,911	)		(21,472	)		(1,507	)		(154,655	)		(155,483	)		(277,347	)		(123,639	)
Adjustments to maintain reserves		(24	)		(18,233	)		(4	)		(5	)		(132	)		(310	)		29,158			136
Net equity transactions		487,868			(249,708	)		442,532			(1,512	)		30,781			(334,685	)		44,201			(100,357	)
Net change in contract owners’ equity		580,772			(325,574	)		482,585			(5,929	)		85,767			(508,670	)		141,339			(360,958	)
Contract owners’ equity at beginning of period		160,944			486,518			22,126			28,055			879,701			1,388,371			1,433,114			1,794,072
Contract owners’ equity at end of period	$	741,716			160,944			504,711			22,126			965,468			879,701			1,574,453			1,433,114
CHANGE IN UNITS:
Beginning units		13,058			32,597			-			-			102,874			138,976			106,647			113,475
Units purchased		40,490			6,985			46,301			-			25,564			4,606			28,886			4,993
Units redeemed		(3,141	)		(26,524	)		(2,545	)		-			(22,168	)		(40,708	)		(26,598	)		(11,821	)
Ending units		50,407			13,058			43,756			-			106,270			102,874			108,935			106,647

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NVLCPP						NVMGA2						NVMIG1						NVMIVX
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	205,070			125,810			(1,898	)		(1,819	)		168,831			(273,149	)		57,248			89,790
Realized gain (loss) on investments		(378,863	)		(314,613	)		662			(3,530	)		(1,879,867	)		(1,496,187	)		118,832			304,700
Change in unrealized gain (loss) on investments		687,404			(1,576,023	)		17,606			(20,145	)		4,738,805			(13,693,494	)		312,416			(729,413	)
Reinvested capital gains		-			115,077			-			-			-			976,085			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		513,611			(1,649,749	)		16,370			(25,494	)		3,027,769			(14,486,745	)		488,496			(334,923	)
Equity transactions:
Purchase payments received from contract owners (note 4)		13,942			24,292			60			240			290,618			143,363			46,746			50,281
Transfers between funds		109,878			(750,200	)		19,934			14,851			(776,698	)		568,480			(27,265	)		6,988
Redemptions (notes 2, 3, and 4)		(945,015	)		(1,065,368	)		(29,635	)		(7,958	)		(2,253,802	)		(1,897,001	)		(305,255	)		(395,064	)
Adjustments to maintain reserves		885			24,215			(7	)		(3,239	)		17,926			(10,367	)		(243	)		(141	)
Net equity transactions		(820,310	)		(1,767,061	)		(9,648	)		3,894			(2,721,956	)		(1,195,525	)		(286,017	)		(337,936	)
Net change in contract owners’ equity		(306,699	)		(3,416,810	)		6,722			(21,600	)		305,813			(15,682,270	)		202,479			(672,859	)
Contract owners’ equity at beginning of period		8,617,553			12,034,363			160,906			182,506			22,005,993			37,688,263			3,510,816			4,183,675
Contract owners’ equity at end of period	$	8,310,854			8,617,553			167,628			160,906			22,311,806			22,005,993			3,713,295			3,510,816
CHANGE IN UNITS:
Beginning units		1,015,700			1,215,293			13,390			12,825			1,027,398			1,080,220			293,473			325,564
Units purchased		129,655			72,764			2,169			2,095			29,543			87,989			33,703			111,426
Units redeemed		(223,412	)		(272,357	)		(2,885	)		(1,530	)		(148,092	)		(140,811	)		(55,773	)		(143,517	)
Ending units		921,943			1,015,700			12,674			13,390			908,849			1,027,398			271,403			293,473

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NVMIVZ						NVMLG1						NVMLG2						NVMM2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	1,414			4,137			1,011,923			961,381			9,115			6,761			674,314			67,736
Realized gain (loss) on investments		3,293			26,364			(1,089,812	)		(2,056,469	)		(20,069	)		(3,687	)		-			-
Change in unrealized gain (loss) on investments		22,326			(46,934	)		6,019,288			(6,982,470	)		63,136			(82,700	)		-			-
Reinvested capital gains		-			-			1,256,322			4,425,559			13,526			46,770			2			358
Net increase (decrease) in contract owners’ equity resulting from operations		27,033			(16,433	)		7,197,721			(3,651,999	)		65,708			(32,856	)		674,316			68,094
Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			81,003			49,250			-			733			9,469,208			7,405,394
Transfers between funds		(4,411	)		(225	)		315,186			868,207			-			-			11,745,375			24,065,441
Redemptions (notes 2, 3, and 4)		(10,427	)		(26,299	)		(2,604,043	)		(2,294,252	)		(77,304	)		(14,943	)		(18,374,327	)		(14,827,786	)
Adjustments to maintain reserves		(2	)		(5,362	)		(26	)		112			(12	)		(7,107	)		3,898			47,259
Net equity transactions		(14,840	)		(31,886	)		(2,207,880	)		(1,376,683	)		(77,316	)		(21,317	)		2,844,154			16,690,308
Net change in contract owners’ equity		12,193			(48,319	)		4,989,841			(5,028,682	)		(11,608	)		(54,173	)		3,518,470			16,758,402
Contract owners’ equity at beginning of period		208,461			256,780			22,142,222			27,170,904			225,318			279,491			18,696,487			1,938,085
Contract owners’ equity at end of period	$	220,654			208,461			27,132,063			22,142,222			213,710			225,318			22,214,957			18,696,487
CHANGE IN UNITS:
Beginning units		12,846			14,792			584,999			620,678			7,110			7,537			1,866,431			194,084
Units purchased		26			138			80,001			109,583			-			22			2,406,451			3,525,115
Units redeemed		(780	)		(2,084	)		(122,107	)		(145,262	)		(2,051	)		(449	)		(2,127,868	)		(1,852,768	)
Ending units		12,092			12,846			542,893			584,999			5,059			7,110			2,145,014			1,866,431

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NVMMG1						NVMMG2						NVMMV2						NVNMO1
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(568,598	)		(641,542	)		(48,214	)		(54,467	)		132,348			86,482			(266,572	)		(348,223	)
Realized gain (loss) on investments		(5,366,476	)		(3,356,541	)		(749,594	)		(280,878	)		(1,213,321	)		(1,112,598	)		737,068			1,437,934
Change in unrealized gain (loss) on investments		14,968,382			(44,369,600	)		1,455,200			(3,237,609	)		(1,926,312	)		(3,910,994	)		5,662,741			(17,533,706	)
Reinvested capital gains		-			15,583,925			-			1,244,763			5,783,812			3,202,396			3,503,674			5,517,343
Net increase (decrease) in contract owners’ equity resulting from operations		9,033,308			(32,783,758	)		657,392			(2,328,191	)		2,776,527			(1,734,714	)		9,636,911			(10,926,652	)
Equity transactions:
Purchase payments received from contract owners (note 4)		185,041			343,062			5,396			54,549			180,314			249,521			196,239			289,899
Transfers between funds		(1,638,572	)		163,059			(55,521	)		79,298			(1,393,119	)		(1,092,278	)		(463,394	)		(931,286	)
Redemptions (notes 2, 3, and 4)		(4,634,222	)		(4,797,953	)		(587,028	)		(269,466	)		(3,518,408	)		(3,638,690	)		(3,784,203	)		(4,907,740	)
Adjustments to maintain reserves		3,978			(6,314	)		(86	)		356			199			(3,194	)		4,510			(20,338	)
Net equity transactions		(6,083,775	)		(4,298,146	)		(637,239	)		(135,263	)		(4,731,014	)		(4,484,641	)		(4,046,848	)		(5,569,465	)
Net change in contract owners’ equity		2,949,533			(37,081,904	)		20,153			(2,463,454	)		(1,954,487	)		(6,219,355	)		5,590,063			(16,496,117	)
Contract owners’ equity at beginning of period		49,597,706			86,679,610			3,629,959			6,093,413			41,633,319			47,852,674			45,813,882			62,309,999
Contract owners’ equity at end of period	$	52,547,239			49,597,706			3,650,112			3,629,959			39,678,832			41,633,319			51,403,945			45,813,882
CHANGE IN UNITS:
Beginning units		2,160,111			2,328,839			170,876			175,979			1,546,782			1,710,453			1,808,109			2,017,118
Units purchased		35,604			87,281			1,834			16,396			20,064			36,979			36,509			47,358
Units redeemed		(277,632	)		(256,009	)		(27,912	)		(21,499	)		(193,950	)		(200,650	)		(182,922	)		(256,367	)
Ending units		1,918,083			2,160,111			144,798			170,876			1,372,896			1,546,782			1,661,696			1,808,109

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NVNMO2						NVNSR1						NVOLG1						NVOLG2
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(3,251	)		(3,324	)		(16,415	)		(14,804	)		1,396,550			(1,170,389	)		(42,191	)		(84,568	)
Realized gain (loss) on investments		(13,591	)		(32,157	)		(73,304	)		(26,200	)		10,587,609			1,011,238			194,900			134,965
Change in unrealized gain (loss) on investments		77,772			(94,820	)		216,432			(740,708	)		79,366,210			(168,785,652	)		1,145,683			(2,581,787	)
Reinvested capital gains		37,471			50,703			230,480			141,354			-			31,156,669			-			470,604
Net increase (decrease) in contract owners’ equity resulting from operations		98,401			(79,598	)		357,193			(640,358	)		91,350,369			(137,788,134	)		1,298,392			(2,060,786	)
Equity transactions:
Purchase payments received from contract owners (note 4)		321			65,843			7,312			12,066			1,666,362			2,475,138			41,388			736
Transfers between funds		64,251			23,814			127,310			159,213			(11,595,710	)		(11,169,753	)		(19,492	)		25,443
Redemptions (notes 2, 3, and 4)		(111,742	)		(47,190	)		(272,088	)		(367,703	)		(41,449,688	)		(38,555,328	)		(855,999	)		(373,646	)
Adjustments to maintain reserves		(11	)		(18,513	)		2,711			1,770			320,134			153,515			(3,767	)		(3,444	)
Net equity transactions		(47,181	)		23,954			(134,755	)		(194,654	)		(51,058,902	)		(47,096,428	)		(837,870	)		(350,911	)
Net change in contract owners’ equity		51,220			(55,644	)		222,438			(835,012	)		40,291,467			(184,884,562	)		460,522			(2,411,697	)
Contract owners’ equity at beginning of period		468,518			524,162			1,903,420			2,738,432			430,992,087			615,876,649			6,434,518			8,846,215
Contract owners’ equity at end of period	$	519,738			468,518			2,125,858			1,903,420			471,283,554			430,992,087			6,895,040			6,434,518
CHANGE IN UNITS:
Beginning units		25,095			23,042			77,729			84,809			8,860,484			9,759,197			153,169			160,487
Units purchased		6,242			7,197			6,618			10,348			65,974			104,579			3,093			4,627
Units redeemed		(8,461	)		(5,144	)		(11,807	)		(17,428	)		(1,029,670	)		(1,003,292	)		(21,203	)		(11,945	)
Ending units		22,876			25,095			72,540			77,729			7,896,788			8,860,484			135,059			153,169

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	NVRE1						NVSIX2						NVSTB2						NVTIV3
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	427,542			177,092			395			(11,951	)		94,892			39,092			12,162			25,154
Realized gain (loss) on investments		732,157			395,681			(35,961	)		26,705			(78,481	)		(172,019	)		14,342			(52,454	)
Change in unrealized gain (loss) on investments		2,140,655			(21,749,607	)		406,381			(1,304,259	)		165,737			(284,460	)		104,270			(25,394	)
Reinvested capital gains		859,510			3,510,221			17,063			422,109			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		4,159,864			(17,666,613	)		387,878			(867,396	)		182,148			(417,387	)		130,774			(52,694	)
Equity transactions:
Purchase payments received from contract owners (note 4)		213,807			236,034			25,314			22,784			64,330			50,885			-			-
Transfers between funds		(1,816,248	)		(1,497,870	)		3,359			(149,961	)		(432,793	)		26,935			(27,879	)		(6,311	)
Redemptions (notes 2, 3, and 4)		(3,667,108	)		(4,511,599	)		(278,106	)		(153,717	)		(362,737	)		(1,613,846	)		(133,703	)		(123,616	)
Adjustments to maintain reserves		9,254			11,052			(59	)		(1,456	)		(179	)		(190	)		(130	)		(31,386	)
Net equity transactions		(5,260,295	)		(5,762,383	)		(249,492	)		(282,350	)		(731,379	)		(1,536,216	)		(161,712	)		(161,313	)
Net change in contract owners’ equity		(1,100,431	)		(23,428,996	)		138,386			(1,149,746	)		(549,231	)		(1,953,603	)		(30,938	)		(214,007	)
Contract owners’ equity at beginning of period		39,557,427			62,986,423			2,847,459			3,997,205			4,597,222			6,550,825			980,587			1,194,594
Contract owners’ equity at end of period	$	38,456,996			39,557,427			2,985,845			2,847,459			4,047,991			4,597,222			949,649			980,587
CHANGE IN UNITS:
Beginning units		2,173,675			2,447,781			152,374			167,827			440,290			586,630			56,180			63,686
Units purchased		49,337			81,528			20,630			15,626			26,705			84,079			-			-
Units redeemed		(333,161	)		(355,634	)		(34,356	)		(31,079	)		(96,480	)		(230,419	)		(8,803	)		(7,506	)
Ending units		1,889,851			2,173,675			138,648			152,374			370,515			440,290			47,377			56,180

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	SAM						SCF						SCF2						SCGF
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	5,570,152			381,332			(384,131	)		(483,389	)		(11,403	)		(13,146	)		(192,404	)		(215,616	)
Realized gain (loss) on investments		-			-			(1,739,553	)		(48,897	)		(17,724	)		135,820			(596,313	)		(130,807	)
Change in unrealized gain (loss) on investments		-			-			9,483,973			(33,033,157	)		110,404			(476,051	)		3,338,123			(10,519,290	)
Reinvested capital gains		15			3,435			369,166			16,143,085			4,922			198,923			-			2,856,703
Net increase (decrease) in contract owners’ equity resulting from operations		5,570,167			384,767			7,729,455			(17,422,358	)		86,199			(154,454	)		2,549,406			(8,009,010	)
Equity transactions:
Purchase payments received from contract owners (note 4)		30,378,141			33,952,692			304,130			677,725			241			-			71,256			65,818
Transfers between funds		35,898,964			84,908,495			(1,491,981	)		(841,749	)		21,760			2,890			(247,153	)		(186,585	)
Redemptions (notes 2, 3, and 4)		(83,173,971	)		(85,321,077	)		(6,959,765	)		(5,589,992	)		(40,898	)		(42,157	)		(1,578,265	)		(1,371,714	)
Adjustments to maintain reserves		307,642			(158,354	)		4,749			(9,243	)		(87	)		(49,002	)		1,161			(3,126	)
Net equity transactions		(16,589,224	)		33,381,756			(8,142,867	)		(5,763,259	)		(18,984	)		(88,269	)		(1,753,001	)		(1,495,607	)
Net change in contract owners’ equity		(11,019,057	)		33,766,523			(413,412	)		(23,185,617	)		67,215			(242,723	)		796,405			(9,504,617	)
Contract owners’ equity at beginning of period		162,202,831			128,436,308			67,476,670			90,662,287			746,576			989,299			16,599,795			26,104,412
Contract owners’ equity at end of period	$	151,183,774			162,202,831			67,063,258			67,476,670			813,791			746,576			17,396,200			16,599,795
CHANGE IN UNITS:
Beginning units		14,272,558			11,240,377			985,202			1,065,106			21,423			22,556			430,055			465,915
Units purchased		14,350,626			20,506,313			20,384			28,399			851			521			16,414			22,008
Units redeemed		(15,861,184	)		(17,474,132	)		(139,347	)		(108,303	)		(1,336	)		(1,654	)		(58,370	)		(57,868	)
Ending units		12,762,000			14,272,558			866,239			985,202			20,938			21,423			388,099			430,055

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	SCGF2						SCVF						SCVF2						TRF
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(3,337	)		(3,809	)		(389,573	)		(484,994	)		(5,109	)		(7,051	)		212,610			85,755
Realized gain (loss) on investments		(3,374	)		(28,380	)		(2,793,290	)		(2,677,402	)		(17,103	)		58,723			7,365,435			6,950,425
Change in unrealized gain (loss) on investments		32,582			(72,863	)		9,136,590			(15,909,374	)		47,155			(156,048	)		(10,049,462	)		(26,564,112	)
Reinvested capital gains		-			35,622			2,767,421			9,313,543			13,909			55,290			8,296,937			9,467,507
Net increase (decrease) in contract owners’ equity resulting from operations		25,871			(69,430	)		8,721,148			(9,758,227	)		38,852			(49,086	)		5,825,520			(10,060,425	)
Equity transactions:
Purchase payments received from contract owners (note 4)		2,323			366			201,602			370,014			1,092			-			596,124			761,616
Transfers between funds		(4,116	)		7,232			(1,125,643	)		(2,114,087	)		(40,471	)		(33,595	)		(1,497,577	)		(2,810,355	)
Redemptions (notes 2, 3, and 4)		(15,578	)		(29,119	)		(3,598,311	)		(4,516,878	)		(32,244	)		(42,219	)		(8,537,839	)		(7,484,218	)
Adjustments to maintain reserves		(246	)		(21,639	)		10,228			(2,836	)		(638	)		(15,316	)		6,068			(5,364	)
Net equity transactions		(17,617	)		(43,160	)		(4,512,124	)		(6,263,787	)		(72,261	)		(91,130	)		(9,433,224	)		(9,538,321	)
Net change in contract owners’ equity		8,254			(112,590	)		4,209,024			(16,022,014	)		(33,409	)		(140,216	)		(3,607,704	)		(19,598,746	)
Contract owners’ equity at beginning of period		184,122			296,712			56,992,166			73,014,180			322,267			462,483			87,417,372			107,016,118
Contract owners’ equity at end of period	$	192,376			184,122			61,201,190			56,992,166			288,858			322,267			83,809,668			87,417,372
CHANGE IN UNITS:
Beginning units		7,895			8,671			858,196			945,980			12,004			14,579			2,172,678			2,410,217
Units purchased		133			336			17,195			11,182			686			19			24,243			31,702
Units redeemed		(868	)		(1,112	)		(82,494	)		(98,966	)		(3,346	)		(2,594	)		(254,049	)		(269,241	)
Ending units		7,160			7,895			792,897			858,196			9,344			12,004			1,942,872			2,172,678

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	TRF2						AMCG						AMMCGS						AMSRS
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	(1,647	)		(3,100	)		(2,301	)		(2,700	)		(10,309	)		(11,840	)		(41,440	)		(37,315	)
Realized gain (loss) on investments		(756	)		79,526			879			36,908			(119,415	)		(106,979	)		146,763			112,385
Change in unrealized gain (loss) on investments		(6,289	)		(125,905	)		21,715			(132,338	)		254,706			(447,115	)		1,060,771			(1,902,554	)
Reinvested capital gains		21,549			22,984			-			28,914			-			166,874			88,476			523,693
Net increase (decrease) in contract owners’ equity resulting from operations		12,857			(26,495	)		20,293			(69,216	)		124,982			(399,060	)		1,254,570			(1,303,791	)
Equity transactions:
Purchase payments received from contract owners (note 4)		-			-			-			1			2,561			733			22,515			2,826
Transfers between funds		(381	)		(2,418	)		1,123			(93,937	)		189,865			(99,895	)		(269,379	)		(37,481	)
Redemptions (notes 2, 3, and 4)		(2,692	)		(81,229	)		(6,384	)		(20,603	)		(66,871	)		(267,934	)		(360,637	)		(323,225	)
Adjustments to maintain reserves		(3	)		(7,623	)		989			(2,827	)		(78	)		(123	)		(57	)		(18	)
Net equity transactions		(3,076	)		(91,270	)		(4,272	)		(117,366	)		125,477			(367,219	)		(607,558	)		(357,898	)
Net change in contract owners’ equity		9,781			(117,765	)		16,021			(186,582	)		250,459			(766,279	)		647,012			(1,661,689	)
Contract owners’ equity at beginning of period		215,825			333,590			128,489			315,071			672,497			1,438,776			5,203,818			6,865,507
Contract owners’ equity at end of period	$	225,606			215,825			144,510			128,489			922,956			672,497			5,850,830			5,203,818
CHANGE IN UNITS:
Beginning units		7,318			10,285			3,315			5,749			42,415			63,736			144,334			153,577
Units purchased		2			-			29			40			14,961			15,640			1,362			169
Units redeemed		(110	)		(2,967	)		(111	)		(2,474	)		(7,614	)		(36,961	)		(16,306	)		(9,412	)
Ending units		7,210			7,318			3,233			3,315			49,762			42,415			129,390			144,334

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	AMTB						PMVAAD						PMVEBD						PMVFAD
	2023			2022			2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	273,964			242,670			42,705			169,868			28,719			28,264			8,595			2,864
Realized gain (loss) on investments		(175,832	)		(106,926	)		(23,055	)		14,271			(55,000	)		(58,921	)		(50,338	)		(172,431	)
Change in unrealized gain (loss) on investments		280,893			(783,537	)		146,828			(775,051	)		89,218			(131,296	)		75,799			(88,882	)
Reinvested capital gains		-			-			-			210,287			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		379,025			(647,793	)		166,478			(380,625	)		62,937			(161,953	)		34,056			(258,449	)
Equity transactions:
Purchase payments received from contract owners (note 4)		88,012			3,562			2,626			8,516			292			514			21,708			8,893
Transfers between funds		(24,939	)		153,969			(38,752	)		(59,569	)		(66,099	)		(27,008	)		38,993			(107,454	)
Redemptions (notes 2, 3, and 4)		(1,219,304	)		(891,280	)		(90,932	)		(166,807	)		(87,496	)		(96,430	)		(122,596	)		(216,579	)
Adjustments to maintain reserves		3,834			(187	)		(83	)		(21	)		(46	)		(69	)		100			(11	)
Net equity transactions		(1,152,397	)		(733,936	)		(127,141	)		(217,881	)		(153,349	)		(122,993	)		(61,795	)		(315,151	)
Net change in contract owners’ equity		(773,372	)		(1,381,729	)		39,337			(598,506	)		(90,412	)		(284,946	)		(27,739	)		(573,600	)
Contract owners’ equity at beginning of period		8,769,939			10,151,668			2,460,915			3,059,421			699,076			984,022			731,365			1,304,965
Contract owners’ equity at end of period	$	7,996,567			8,769,939			2,500,252			2,460,915			608,664			699,076			703,626			731,365
CHANGE IN UNITS:
Beginning units		825,113			892,456			189,290			205,097			67,863			79,721			71,045			102,808
Units purchased		75,013			91,604			2,684			3,717			15,336			9,553			10,356			18,060
Units redeemed		(180,187	)		(158,947	)		(12,095	)		(19,524	)		(29,405	)		(21,411	)		(16,545	)		(49,823	)
Ending units		719,939			825,113			179,879			189,290			53,794			67,863			64,856			71,045

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	PMVIV					PMVLAD						PMVRRA						PMVSTA
	2023			2022		2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	4,750			-		334,241			69,057			10,321			38,349			146,318			16,615
Realized gain (loss) on investments		(17	)		-		(281,817	)		(97,635	)		(7,096	)		550			(41,413	)		(38,308	)
Change in unrealized gain (loss) on investments		7,083			-		456,210			(1,168,752	)		12,068			(128,854	)		96,840			(53,930	)
Reinvested capital gains		-			-		-			-			-			-			-			8,093
Net increase (decrease) in contract owners’ equity resulting from operations		11,816			-		508,634			(1,197,330	)		15,293			(89,955	)		201,745			(67,530	)
Equity transactions:
Purchase payments received from contract owners (note 4)		-			-		131,989			118,622			5,103			6,903			60,071			41,094
Transfers between funds		248,568			-		(406,009	)		116,383			(60,031	)		68,124			246,517			1,015,510
Redemptions (notes 2, 3, and 4)		(1,928	)		-		(2,675,733	)		(1,318,028	)		(36,160	)		(11,842	)		(569,114	)		(716,879	)
Adjustments to maintain reserves		(6	)		-		(862	)		391			112			(115	)		(46	)		(115	)
Net equity transactions		246,634			-		(2,950,615	)		(1,082,632	)		(90,976	)		63,070			(262,572	)		339,610
Net change in contract owners’ equity		258,450			-		(2,441,981	)		(2,279,962	)		(75,683	)		(26,885	)		(60,827	)		272,080
Contract owners’ equity at beginning of period		-			-		15,967,155			18,247,117			632,488			659,373			4,410,761			4,138,681
Contract owners’ equity at end of period	$	258,450			-		13,525,174			15,967,155			556,805			632,488			4,349,934			4,410,761
CHANGE IN UNITS:
Beginning units		-			-		1,455,224			1,547,082			42,464			38,595			429,733			397,752
Units purchased		24,714			-		67,064			128,269			1,162			4,676			169,839			201,757
Units redeemed		(191	)		-		(331,754	)		(220,127	)		(7,191	)		(807	)		(194,261	)		(169,776	)
Ending units		24,523			-		1,190,534			1,455,224			36,435			42,464			405,311			429,733

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	PVEIB						PVIGIB						PVNOB					PVTIGB
	2023			2022			2023			2022			2023			2022		2023			2022
Investment activity*:
Net investment income (loss)	$	19,665			2,904			2,625			1,430			(12	)		-		(3,807	)		883
Realized gain (loss) on investments		(71,210	)		6,971			(2,801	)		(9,716	)		1			-		27,106			(52,577	)
Change in unrealized gain (loss) on investments		229,913			(143,313	)		114,154			(6,086	)		582			-		49,333			688
Reinvested capital gains		116,246			94,296			-			9,336			-			-		-			23,042
Net increase (decrease) in contract owners’ equity resulting from operations		294,614			(39,142	)		113,978			(5,036	)		571			-		72,632			(27,964	)
Equity transactions:
Purchase payments received from contract owners (note 4)		24,185			67,814			26			(13	)		-			-		2,500			2,268
Transfers between funds		479,190			901,253			(22,976	)		415,257			10,248			-		370,200			199,735
Redemptions (notes 2, 3, and 4)		(125,687	)		(109,603	)		(67,983	)		(12,420	)		-			-		(112,383	)		(50,192	)
Adjustments to maintain reserves		(22	)		(5	)		(25	)		(107	)		(1	)		-		(21	)		1,366
Net equity transactions		377,666			859,459			(90,958	)		402,717			10,247			-		260,296			153,177
Net change in contract owners’ equity		672,280			820,317			23,020			397,681			10,818			-		332,928			125,213
Contract owners’ equity at beginning of period		1,783,117			962,800			736,190			338,509			-			-		237,224			112,011
Contract owners’ equity at end of period	$	2,455,397			1,783,117			759,210			736,190			10,818			-		570,152			237,224
CHANGE IN UNITS:
Beginning units		113,363			58,227			51,791			21,997			-			-		19,336			7,686
Units purchased		66,936			72,184			13,123			37,516			935			-		41,648			17,608
Units redeemed		(43,685	)		(17,048	)		(19,461	)		(7,722	)		-			-		(21,241	)		(5,958	)
Ending units		136,614			113,363			45,453			51,791			935			-		39,743			19,336

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	ROCMC						TRHS2						TRMCG2					VWEM
	2023			2022			2023			2022			2023			2022		2023			2022
Investment activity*:
Net investment income (loss)	$	(2,890	)		(3,068	)		(300,999	)		(361,203	)		(1,032	)		-		166,124			(67,890	)
Realized gain (loss) on investments		(4,623	)		12,105			1,507,389			2,216,644			(51	)		-		(717,944	)		(329,415	)
Change in unrealized gain (loss) on investments		50,753			(174,366	)		(1,840,374	)		(8,055,000	)		923			-		1,127,885			(4,199,674	)
Reinvested capital gains		-			79,532			952,164			506,502			19,206			-		-			1,674,719
Net increase (decrease) in contract owners’ equity resulting from operations		43,240			(85,797	)		318,180			(5,693,057	)		19,046			-		576,065			(2,922,260	)
Equity transactions:
Purchase payments received from contract owners (note 4)		3,713			3,933			473,053			409,350			6,865			-		57,844			51,076
Transfers between funds		(8,907	)		(39,523	)		(2,592,536	)		(2,410,276	)		282,440			-		(578,034	)		(537,009	)
Redemptions (notes 2, 3, and 4)		(7,483	)		(31,077	)		(2,567,603	)		(3,268,992	)		(1,219	)		-		(809,930	)		(644,870	)
Adjustments to maintain reserves		(17	)		131			11,194			1,427			(3	)		-		(312	)		(6	)
Net equity transactions		(12,694	)		(66,536	)		(4,675,892	)		(5,268,491	)		288,083			-		(1,330,432	)		(1,130,809	)
Net change in contract owners’ equity		30,546			(152,333	)		(4,357,712	)		(10,961,548	)		307,129			-		(754,367	)		(4,053,069	)
Contract owners’ equity at beginning of period		244,633			396,966			29,983,721			40,945,269			-			-		7,504,661			11,557,730
Contract owners’ equity at end of period	$	275,179			244,633			25,626,009			29,983,721			307,129			-		6,750,294			7,504,661
CHANGE IN UNITS:
Beginning units		13,344			16,609			535,695			631,492			-			-		231,588			265,493
Units purchased		1,119			1,087			27,434			31,680			27,623			-		6,612			22,187
Units redeemed		(1,689	)		(4,352	)		(111,670	)		(127,477	)		(115	)		-		(49,523	)		(56,092	)
Ending units		12,774			13,344			451,459			535,695			27,508			-		188,677			231,588

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022

	VWHA						VWHAS						VRVDRA
	2023			2022			2023			2022			2023			2022
Investment activity*:
Net investment income (loss)	$	73,132			26,925			59,679			18,804			1,233			(1,800	)
Realized gain (loss) on investments		(52,489	)		(17,678	)		(188,747	)		1,345,058			(65,051	)		(70,489	)
Change in unrealized gain (loss) on investments		(231,201	)		356,386			(210,714	)		(1,217,529	)		87,331			(188,417	)
Reinvested capital gains		-			-			-			-			2,136			13,160
Net increase (decrease) in contract owners’ equity resulting from operations		(210,558	)		365,633			(339,782	)		146,333			25,649			(247,546	)
Equity transactions:
Purchase payments received from contract owners (note 4)		4,269			3,966			171,477			57,796			3,437			3,135
Transfers between funds		(68,744	)		(228,812	)		(2,344,225	)		1,982,573			(54,491	)		(356,402	)
Redemptions (notes 2, 3, and 4)		(324,671	)		(365,812	)		(429,662	)		(861,293	)		(41,187	)		(46,676	)
Adjustments to maintain reserves		6,313			4,427			(634	)		8,885			(20	)		12,756
Net equity transactions		(382,833	)		(586,231	)		(2,603,044	)		1,187,961			(92,261	)		(387,187	)
Net change in contract owners’ equity		(593,391	)		(220,598	)		(2,942,826	)		1,334,294			(66,612	)		(634,733	)
Contract owners’ equity at beginning of period		4,596,171			4,816,769			6,327,645			4,993,351			450,466			1,085,199
Contract owners’ equity at end of period	$	4,002,780			4,596,171			3,384,819			6,327,645			383,854			450,466
CHANGE IN UNITS:
Beginning units		141,524			159,196			724,806			611,414			40,451			71,136
Units purchased		510			535			67,366			636,516			16,645			36,395
Units redeemed		(12,664	)		(18,207	)		(384,756	)		(523,124	)		(25,684	)		(67,080	)
Ending units		129,370			141,524			407,416			724,806			31,412			40,451

* For all subaccounts not included herein but listed as an investment option in note 1(b), there was no activity during the two-year period. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2023, if applicable.

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

(1) Background and Summary of Significant Accounting Policies

(a) Organization and Nature of Operations

The Nationwide Variable Account-9 (the Separate Account) was established pursuant to a resolution of the Board of Directors of Nationwide Life Insurance Company (the Company) on May 22, 1997. The Separate Account is registered as a unit investment trust under the Investment Company Act of 1940. The Separate Account is an Investment Company and follows accounting and reporting guidance under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 946, Financial Services – Investment Companies. The Company offers tax qualified and non-tax qualified Modified Single Premium Deferred Variable Annuity Contracts and Individual Single Premium Immediate Variable Annuity Contracts through the Separate Account.

Effective July 1, 2000, the Company entered into a reinsurance agreement with Security Benefit Life Insurance Company (SBL) to sell, transfer and cede on an indemnity basis all of its obligations in connection with annuity contracts issued pursuant to the NEA Valuebuilder Annuity Program (Program). Under the agreement, the Company continued to provide administrative and support services for contracts issued under the Program until September 2001. Thereafter, SBL assumed full responsibility for servicing the contracts and receives all fees and charges of the contracts. The Company is paid a supplemental Capital Charge by SBL to meet the capital needs of the reinsured contracts. The ceding of risk does not discharge the Company from its primary obligation, including regulatory record keeping and reporting, to the contract owners of the Separate Account.

(b) The Contracts

The Separate Account offers variable annuity insurance benefits intended to serve the long-term saving needs of investors. The primary distribution for the contracts is through the brokerage community; however, other distributors are utilized. Contract features are described in the applicable prospectus.

A contract owner may choose from among a number of different underlying mutual fund options. The underlying mutual fund options are not available to the general public directly. The underlying mutual funds are available as investment options in variable life insurance policies or variable annuity contracts issued by life insurance companies or, in some cases, through participation in certain qualified pension or retirement plans.

Some of the underlying mutual funds have been established by investment advisers which manage publicly traded mutual funds having similar names and investment objectives. While some of the underlying mutual funds may be similar to, and may in fact be modeled after, publicly traded mutual funds, the underlying mutual funds are not otherwise directly related to any publicly traded mutual fund. Consequently, the investment performance of publicly traded mutual funds and any corresponding underlying mutual funds may differ substantially.

With certain exceptions, contract owners in either the accumulation or payout phase may invest in any of the following:

AB FUNDS

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Dynamic Asset Allocation Portfolio: Class B (ALVDAB)*

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class B (ALVGIB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Large Cap Growth Portfolio: Class B (ALVPGB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)

ALLSPRING GLOBAL INVESTMENTS

Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)

Allspring Variable Trust - VT Small Cap Growth Fund: Class 2 (WFVSCG)

AMERICAN CENTURY INVESTMENTS

American Century Variable Portfolios, Inc. - American Century VP International Fund: Class I (ACVI)

American Century Variable Portfolios, Inc. - American Century VP Disciplined Core Value Fund: Class I (ACVIG)

American Century Variable Portfolios, Inc. - American Century VP Disciplined Core Value Fund: Class II (ACVIG2)

American Century Variable Portfolios II, Inc. - American Century VP Inflation Protection Fund: Class II (ACVIP2)

American Century Variable Portfolios, Inc. - American Century VP Mid Cap Value Fund: Class I (ACVMV1)

American Century Variable Portfolios, Inc. - American Century VP Mid Cap Value Fund: Class II (ACVMV2)

American Century Variable Portfolios, Inc. - American Century VP Ultra(R) Fund: Class I (ACVU1)

American Century Variable Portfolios, Inc. - American Century VP Value Fund: Class I (ACVV)

American Century Variable Portfolios, Inc. - American Century VP Value Fund: Class II (ACVV2)

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)

American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)

American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 2 (AMVGV2)

American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)

BLACKROCK FUNDS

BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)

BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)

BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)

BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

BNY MELLON INVESTMENT MANAGEMENT

BNY Mellon Variable Investment Fund - Appreciation Portfolio: Initial Shares (DCAP)

BNY Mellon Variable Investment Fund - Appreciation Portfolio: Service Shares (DCAPS)*

BNY Mellon Variable Investment Fund - Opportunistic Small Cap Portfolio: Initial Shares (DSC)*

BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)

BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)

BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Service Shares (DSRGS)

BNY Mellon Variable Investment Fund - Opportunistic Small Cap Portfolio: Service Shares (DVDLS)*

BNY Mellon Investment Portfolios - MidCap Stock Portfolio: Service Shares (DVMCSS)

BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)

COLUMBIA FUNDS MANAGEMENT COMPANY

Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - High Yield Bond Fund: Class 2 (CLVHY2)

DELAWARE FUNDS BY MACQUARIE

Delaware VIP Trust - Delaware VIP Small Cap Value Series: Service Class (DWVSVS)

EATON VANCE FUNDS

Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)

FEDERATED HERMES, INC.

Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Service Shares (FHIBS)

Federated Hermes Insurance Series - Federated Hermes Quality Bond Fund II: Primary Shares (FQB)

Federated Hermes Insurance Series - Federated Hermes Quality Bond Fund II: Service Shares (FQBS)

Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Service Shares (FVU2S)

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)

Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)

Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class (FCS)

Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)

Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class (FEIS)

Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2010 Portfolio: Service Class (FF10S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2010 Portfolio: Service Class 2 (FF10S2)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2020 Portfolio: Service Class (FF20S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2020 Portfolio: Service Class 2 (FF20S2)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2030 Portfolio: Service Class (FF30S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2030 Portfolio: Service Class 2 (FF30S2)

Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)

Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)

Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class (FGOS)

Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class (FGS)

Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class (FHIS)

Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class (FIGBS)

Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)

Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class (FMCS)

Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)

Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)

Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class (FOS)

Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)

Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)

Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class (FVSS)

Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

Franklin Templeton Variable Insurance Products Trust - Templeton Developing Markets VIP Fund: Class 2 (FTVDM2)

Franklin Templeton Variable Insurance Products Trust - Franklin Allocation VIP Fund: Class 2 (FTVFA2)

Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)

Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)

Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)

Franklin Templeton Variable Insurance Products Trust - Franklin Small Cap Value VIP Fund: Class 2 (FTVSV2)

Franklin Templeton Variable Insurance Products Trust - Templeton Foreign VIP Fund: Class 1 (TIF)*

Franklin Templeton Variable Insurance Products Trust - Templeton Foreign VIP Fund: Class 2 (TIF2)

GOLDMAN SACHS ASSET MANAGEMENT GROUP

Goldman Sachs Variable Insurance Trust - Goldman Sachs Trend Driven Allocation Fund: Service Shares (GVGMNS)

Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Service Shares (GVMSAS)

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

GUGGENHEIM INVESTMENTS

Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)

Guggenheim Variable Funds Trust - Series D (World Equity Income Series) (SBLD)

Guggenheim Variable Funds Trust - Series J (StylePlus Mid Growth Series) (SBLJ)

Guggenheim Variable Funds Trust - Series N (Managed Asset Allocation Series) (SBLN)

Guggenheim Variable Funds Trust - Series O (All Cap Value Series) (SBLO)

Guggenheim Variable Funds Trust - Series P (High Yield Series) (SBLP)

Guggenheim Variable Funds Trust - Series Q (Small Cap Value Series) (SBLQ)

Guggenheim Variable Funds Trust - Series V (SMid Cap Value Series) (SBLV)

Guggenheim Variable Funds Trust - Series X (StylePlus - Small Growth Series) (SBLX)

Guggenheim Variable Funds Trust - Series Y (StylePlus - Large Growth Series) (SBLY)

INVESCO INVESTMENTS

Invesco - Invesco V.I. Comstock Fund: Series II Shares (ACC2)

Invesco - Invesco V.I. American Franchise Fund: Series I Shares (ACEG)

Invesco - Invesco V.I. American Franchise Fund: Series II Shares (ACEG2)*

Invesco - Invesco V.I. Core Equity Fund: Series II Shares (AVCE2)

Invesco - Invesco V.I. Core Equity Fund: Series I Shares (AVGI)

Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)*

Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)

Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)

Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)

Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)

Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series I (OVAG)

Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series II (OVAG2)

Invesco - Invesco V.I. Main Street Fund: Series I (OVGI)

Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)*

Invesco - Invesco V.I. Capital Appreciation Fund: Series I (OVGR)

Invesco - Invesco V.I. Global Fund: Series I (OVGS)

Invesco - Invesco V.I. Global Fund: Series II (OVGSS)

Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)

Invesco - Invesco V.I. Global Strategic Income Fund: Series I (OVSB)

Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)

Invesco - Invesco V.I. Main Street Small Cap Fund: Series I (OVSC)

Invesco - Invesco V.I. Main Street Small Cap Fund: Series II (OVSCS)

IVY INVESTMENTS

Ivy Variable Insurance Portfolios - Delaware Ivy Asset Strategy: Class II (WRASP)

Ivy Variable Insurance Portfolios - Delaware Ivy Corporate Bond: Class II (WRBDP)

Ivy Variable Insurance Portfolios - Delaware Ivy Balanced: Class II (WRBP)

Ivy Variable Insurance Portfolios - Delaware Ivy Core Equity: Class II (WRCEP)

Ivy Variable Insurance Portfolios - Delaware VIP Global Equity: Class II (WRDIV)

Ivy Variable Insurance Portfolios - Delaware Ivy Energy: Class II (WRENG)

Ivy Variable Insurance Portfolios - Delaware Ivy Natural Resources: Class II (WRGNR)

Ivy Variable Insurance Portfolios - Delaware Ivy Growth: Class II (WRGP)

Ivy Variable Insurance Portfolios - Delaware Ivy High Income: Class II (WRHIP)

Ivy Variable Insurance Portfolios - Delaware Ivy International Core Equity: Class II (WRI2P)

Ivy Variable Insurance Portfolios - Delaware Ivy Global Growth: Class II (WRIP)

Ivy Variable Insurance Portfolios - Delaware Ivy Limited-Term Bond: Class II (WRLTBP)

Ivy Variable Insurance Portfolios - Delaware Ivy Mid Cap Growth: Class II (WRMCG)

Ivy Variable Insurance Portfolios - Delaware VIP Real Estate Securities: Class II (WRRESP)

Ivy Variable Insurance Portfolios - Delaware Ivy Small Cap Growth: Class II (WRSCP)

Ivy Variable Insurance Portfolios - Delaware Ivy Smid Cap Core: Class II (WRSCV)

Ivy Variable Insurance Portfolios - Delaware Ivy Science and Technology: Class II (WRSTP)

Ivy Variable Insurance Portfolios - Delaware Ivy Value: Class II (WRVP)*

JANUS HENDERSON INVESTORS

Janus Aspen Series - Janus Henderson Balanced Portfolio: Service Shares (JABS)

Janus Aspen Series - Janus Henderson Forty Portfolio: Service Shares (JACAS)

Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)

Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)

Janus Aspen Series - Janus Henderson Global Technology and Innovation Portfolio: Service Shares (JAGTS)

Janus Aspen Series - Janus Henderson Overseas Portfolio: Service Shares (JAIGS)

LAZARD FUNDS

Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

LINCOLN FUNDS

Lincoln Variable Insurance Products Trust - LVIP JPMorgan Mid Cap Value Fund: Standard Class (LJPMVS)

LORD ABBETT FUNDS

Lord Abbett Series Fund, Inc. - Total Return Portfolio: Class VC (LOVTRC)

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust II - MFS Massachusetts Investors Growth Stock Portfolio: Service Class (M2IGSS)

MFS(R) Variable Insurance Trust - MFS Mid Cap Growth Series: Service Class (MMCGSC)

MFS(R) Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)

MFS(R) Variable Insurance Trust II - MFS Research International Portfolio: Service Class (MV2RIS)

MFS(R) Variable Insurance Trust III - MFS Limited Maturity Portfolio: Service Class (MV3LMS)*

MFS(R) Variable Insurance Trust III - MFS Mid Cap Value Portfolio: Service Class (MV3MVS)

MFS(R) Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)

MFS(R) Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)

MFS(R) Variable Insurance Trust II - MFS International Intrinsic Value Portfolio: Service Class (MVIVSC)

MORGAN STANLEY

Morgan Stanley Variable Insurance Fund, Inc. - Emerging Markets Debt Portfolio: Class I (MSEM)

Morgan Stanley Variable Insurance Fund, Inc. - Global Infrastructure Portfolio: Class II (MSGI2)

Morgan Stanley Variable Insurance Fund, Inc. - Growth Portfolio: Class II (MSVEG2)

Morgan Stanley Variable Insurance Fund, Inc. - Global Strategist Portfolio: Class I (MSVIM)*

Morgan Stanley Variable Insurance Fund, Inc. - Discovery Portfolio: Class I (MSVMG)*

Morgan Stanley Variable Insurance Fund, Inc. - U.S. Real Estate Portfolio: Class I (MSVRE)

NATIONWIDE FUNDS GROUP

Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class II (DTRTFB)

Nationwide Variable Insurance Trust - NVIT BlackRock Equity Dividend Fund: Class I (EIF)

Nationwide Variable Insurance Trust - NVIT Government Bond Fund: Class I (GBF)

Nationwide Variable Insurance Trust - NVIT Government Bond Fund: Class II (GBF2)

Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class I (GEM)

Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)

Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)

Nationwide Variable Insurance Trust - NVIT American Funds Asset Allocation Fund: Class II (GVAAA2)

Nationwide Variable Insurance Trust - NVIT American Funds Bond Fund: Class II (GVABD2)

Nationwide Variable Insurance Trust - NVIT American Funds Global Growth Fund: Class II (GVAGG2)

Nationwide Variable Insurance Trust - NVIT American Funds Growth-Income Fund: Class II (GVAGI2)

Nationwide Variable Insurance Trust - NVIT American Funds Growth Fund: Class II (GVAGR2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Aggressive Fund: Class II (GVDMA)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Conservative Fund: Class II (GVDMC)

Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class I (GVEX1)

Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class II (GVEX2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Aggressive Fund: Class II (GVIDA)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Conservative Fund: Class II (GVIDC)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderate Fund: Class II (GVIDM)

Nationwide Variable Insurance Trust - NVIT International Index Fund: Class VIII (GVIX8)

Nationwide Variable Insurance Trust - NVIT Federated High Income Bond Fund: Class I (HIBF)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Managed Growth Fund: Class II (IDPG2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Managed Growth & Income Fund: Class II (IDPGI2)

Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class I (MCIF)

Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class II (MCIF2)

Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)

Nationwide Variable Insurance Trust - NVIT Managed American Funds Asset Allocation Fund: Class II (NAMAA2)

Nationwide Variable Insurance Trust - NVIT Managed American Funds Growth-Income Fund: Class II (NAMGI2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Managed Growth Fund: Class II (NCPG2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Managed Growth & Income Fund: Class II (NCPGI2)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class I (NVAMV1)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class II (NVAMV2)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class Z (NVAMVZ)

Nationwide Variable Insurance Trust - NVIT Core Bond Fund: Class I (NVCBD1)

Nationwide Variable Insurance Trust - NVIT Core Bond Fund: Class II (NVCBD2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Capital Appreciation Fund: Class II (NVCCA2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Conservative Fund: Class II (NVCCN2)

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Aggressive Fund: Class II (NVCMA2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Conservative Fund: Class II (NVCMC2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderate Fund: Class II (NVCMD2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Aggressive Fund: Class II (NVCRA2)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Balanced Fund: Class II (NVCRB2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Balanced Fund: Class II (NVDBL2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Capital Appreciation Fund: Class II (NVDCA2)

Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class II (NVFIII)

Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class II (NVGEII)

Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class II (NVIE6)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class I (NVLCP1)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class II (NVLCP2)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class P (NVLCPP)

Nationwide Variable Insurance Trust - NVIT BlackRock Managed Global Allocation Fund: Class II (NVMGA2)

Nationwide Variable Insurance Trust - NVIT NS Partners International Focused Growth Fund: Class I (NVMIG1)

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class Z (NVMIVZ)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class II (NVMLG2)

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class II (NVMM2)

Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class I (NVMMG1)

Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class II (NVMMG2)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Mid Cap Value Fund: Class II (NVMMV2)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class I (NVNMO1)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class II (NVNMO2)

Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)

Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class II (NVNSR2)*

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class I (NVOLG1)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class II (NVOLG2)

Nationwide Variable Insurance Trust - NVIT Real Estate Fund: Class I (NVRE1)

Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class II (NVSIX2)

Nationwide Variable Insurance Trust - NVIT Loomis Short Term Bond Fund: Class II (NVSTB2)

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class I (NVTIV3)

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class I (SAM)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Company Fund: Class I (SCF)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Company Fund: Class II (SCF2)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Growth Fund: Class I (SCGF)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Growth Fund: Class II (SCGF2)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Value Fund: Class I (SCVF)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Value Fund: Class II (SCVF2)

Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)

Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class II (TRF2)

NEUBERGER & BERMAN MANAGEMENT, INC.

Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)

Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class S Shares (AMMCGS)

Neuberger Berman Advisers Management Trust - Sustainable Equity Portfolio: Class I Shares (AMSRS)

Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)

PIMCO FUNDS

PIMCO Variable Insurance Trust - All Asset Portfolio: Advisor Class (PMVAAD)

PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Advisor Class (PMVEBD)

PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Advisor Class (PMVFAD)

PIMCO Variable Insurance Trust - Income Portfolio: Advisor Class (PMVIV)

PIMCO Variable Insurance Trust - Low Duration Portfolio: Advisor Class (PMVLAD)

PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)

PIMCO Variable Insurance Trust - Short-Term Portfolio: Advisor Class (PMVSTA)

PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)*

PIMCO Variable Insurance Trust - Total Return Portfolio: Advisor Class (PMVTRD)*

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

PUTNAM INVESTMENTS

Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)

Putnam Variable Trust - Putnam VT Large Cap Growth Fund: Class IB (PVGOB)*

Putnam Variable Trust - Putnam VT International Value Fund: Class IB (PVIGIB)

Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)

Putnam Variable Trust - Putnam VT International Equity Fund: Class IB (PVTIGB)

ROYCE CAPITAL FUNDS

Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)

T. ROWE PRICE

T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)

T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)

VAN ECK ASSOCIATES CORPORATION

VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)

VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)

VanEck VIP Trust - VanEck VIP Global Resources Fund: Class S (VWHAS)

VIRTUS MUTUAL FUNDS

Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)

* At December 31, 2023, contract owners were not invested in this fund.

Unless listed below, the financial statements presented are as of December 31, 2023 and for each of the years in the two-year period ended December 31, 2023. For the subaccounts listed below with inception dates in 2023, the financial statements are as of December 31, 2023 and for the period from the inception date to December 31, 2023. For the subaccounts listed below with inception dates in 2022, the prior year financial statements reflect the period from inception date to December 31, 2022.

	Inception Date	Liquidation Date
American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)	5/20/2022
American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 2 (AMVGV2)	5/24/2022
American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)	7/13/2022
American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)	7/18/2023
Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)	5/9/2023
Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)	6/15/2023
Lincoln Variable Insurance Products Trust - LVIP JPMorgan Mid Cap Value Fund: Standard Class (LJPMVS)	4/28/2023
PIMCO Variable Insurance Trust - Income Portfolio: Advisor Class (PMVIV)	5/19/2023
T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)	7/17/2023
Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)	11/14/2023
Morgan Stanley Variable Insurance Fund, Inc. - Core Plus Fixed Income Portfolio: Class II (MSVF2)		8/17/2023
Morgan Stanley Variable Insurance Fund, Inc. - Core Plus Fixed Income Portfolio: Class I (MSVFI)		8/17/2023

For the one-year period ended December 31, 2023, the following subaccount mergers occurred. The subaccounts that were acquired during the year are no longer available as of December 31, 2023.

Acquired Underlying Mutual Fund	Acquiring Underlying Mutual Fund	Effective Date
JPMorgan Insurance Trust - JPMorgan Insurance Trust Mid Cap Value Portfolio: Class 1 (JPMMV1)	Lincoln Variable Insurance Products Trust - LVIP JPMorgan Mid Cap Value Fund: Standard Class (LJPMVS)	4/28/2023

For the one-year period ended December 31, 2023, the following subaccount name changes occurred:

Subaccount Abbreviation	Current Legal Name	Prior Legal Name	Effective Date
ALVGIB	AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class B	AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Growth and Income Portfolio: Class B	5/1/2023
ALVSVB	AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B	AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Small/Mid Cap Value Portfolio: Class B	5/1/2023
WRDIV	Ivy Variable Insurance Portfolios - Delaware VIP Global Equity: Class II	Ivy Variable Insurance Portfolios - Delaware VIP Global Value Equity: Class II	10/31/2023
NVNMO1	Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class I	Nationwide Variable Insurance Trust - NVIT Neuberger Berman Multi Cap Opportunities Fund: Class I	5/1/2023
NVNMO2	Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class II	Nationwide Variable Insurance Trust - NVIT Neuberger Berman Multi Cap Opportunities Fund: Class II	5/1/2023

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

NVNSR1	Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I	Nationwide Variable Insurance Trust - NVIT BNY Mellon Sustainable U.S. Equity Fund: Class I	5/1/2023
NVNSR2	Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class II	Nationwide Variable Insurance Trust - NVIT BNY Mellon Sustainable U.S. Equity Fund: Class II	5/1/2023
NVSTB2	Nationwide Variable Insurance Trust - NVIT Loomis Short Term Bond Fund: Class II	Nationwide Variable Insurance Trust - NVIT Short Term Bond Fund: Class II	5/1/2023
AMCG	Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares	Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: I Class Shares	5/1/2023
AMMCGS	Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class S Shares	Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: S Class Shares	5/1/2023
AMTB	Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares	Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: I Class Shares	5/1/2023
PVGOB	Putnam Variable Trust - Putnam VT Large Cap Growth Fund: Class IB	Putnam Variable Trust - Putnam VT Growth Opportunities Fund: Class IB	5/1/2023

The contract owners’ equity is affected by the investment results of each fund, equity transactions by contract owners and certain contract expenses (see note 2). The accompanying financial statements include only contract owners’ purchase payments pertaining to the variable portions of their contracts and exclude any purchase payments for fixed dollar benefits, the latter being included in the accounts of the Company.

A purchase payment could be presented as a negative equity transaction in the Statements of Changes in Contract Owners’ Equity if a prior period purchase payment is refunded to a contract owner due to a contract cancellation during the free look period, and/or if a gain is realized by the contract owner during the free look period.

The Company allocates purchase payments to subaccounts and/or the fixed account as instructed by the contract owner. Shares of the subaccounts are purchased at Net Asset Value, then converted into accumulation units. Certain transactions may be subject to conditions imposed by the underlying mutual funds, as well as those set forth in the contract.

(c) Security Valuation, Transactions and Related Investment Income

Investments in underlying mutual funds are valued at the closing Net Asset Value per share at December 31, 2023 of such funds. The cost of investments sold is determined on a first in - first out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed), and dividends and capital gain distributions are accrued as of the ex-dividend date and are reinvested in the underlying mutual funds.

(d) Federal Income Taxes

Operations of the Separate Account form a part of, and are taxed with, operations of the Company which is taxed as a life insurance company under the Internal Revenue Code. The Company does not provide for income taxes within the Separate Account. Taxes are generally the responsibility of the contract owner upon termination or withdrawal.

(e) Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with U.S. generally accepted accounting principles may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(f) Calculation of Annuity Reserves

At each financial reporting date, the Separate Account financial statements include an aggregate amount of net assets allocated to future contract benefits for the contracts in the payout (annuitization) period. The payout (annuitization) period begins when amounts accumulated under the contract (the contract value) are applied according to the payment method selected by the contract owner.

Annuity reserves are computed for contracts in the variable payout stage according to industry standard mortality tables. The assumed investment return is 3.5% unless the annuitant elects otherwise, in which case the rate may vary from 3.5% to 6%, as regulated by the laws of the respective states. The mortality risk is fully borne by the Company and may result in additional amounts being transferred into the Separate Account by the Company to cover greater longevity of annuitants than expected. Conversely, if reserves exceed amounts required, transfers may be made to the Company.

(g) Adjustments to Maintain reserves (ATM)

Adjustments to Maintain reserves primarily represent timing related adjustments absorbed by the general account in order to maintain appropriate contract owner account balances.

(h) Subsequent Events

The Company evaluated subsequent events through the date the financial statements were issued with the Securities and Exchange Commission, and no subsequent events have occurred requiring accrual or disclosures.

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

(2) Expenses

The Separate Account assesses charges associated with the contract. These charges are either assessed as a direct reduction in unit values or through a redemption of units from the subaccounts contained within the Separate Account. The assessment of charges varies based on the contract and any additional riders or benefits elected. The additional riders or benefits and related charges specific to each contract are described in detail in the applicable prospectus. Maximum variable account charges for contracts offered through the Separate Account range from 1.60% to 3.95%.

Contract Charges
Recurring Variable Account Charges - assessed through a reduction in unit values	Equal, on an annualized basis, to 0.95% - 1.75% of the daily value of the allocations to the underlying fund options
Contract Maintenance Charge - assessed through a redemption of units	Up to $35 annually
Contingent Deferred Sales Charge - assessed on the amount of purchase payment surrendered	0.00% - 7.00%
Maximum Contingent Deferred Sales Charge Period	7 years
Rider Charges - annualized and assessed through either a reduction in unit value or the redemption of units
Reduced Purchase Payment Option	0.25%
Five Year CDSC Option	0.15%
CDSC Waiver Options	0.05% - 0.15%
One-Year Enhanced Death Benefit Option	0.15%
One-Year Step Up Death Benefit Option	0.05% - 0.10%
Greater of One-Year or 5% Enhanced Death Benefit Option	0.15% - 0.20%
5% Enhanced Death Benefit Option	0.05% - 0.15%
Guaranteed Minimum Income Benefit Option 1	0.45%
Guaranteed Minimum Income Benefit Option 2	0.30%
Beneficiary Protector Option	0.40%
Extra Value Option (EV)	0.45%
Capital Preservation Plus Option	0.50%
Spousal Protection Annuity Option	0.10%
America’s Income Annuity Income Foundation Rider	1.00%

(3) Annuity Benefits

Annuity benefit proceeds result in a redemption of the policy value from the Separate Account and payment of those proceeds, less any outstanding policy loans (and policy charges), to the legal beneficiary. For last survivor flexible premium policies, the proceeds are payable on the death of the last surviving insured. In the event that the guaranteed death benefit exceeds the policy value on the date of death, the excess is paid by the Company’s general account.

(4) Related Party Transactions

The Company performs various services on behalf of the mutual fund companies in which the Separate Account invests and may receive fees for the services performed. These services include, among other things, shareholder communications, postage, fund transfer agency and various other record keeping and customer service functions. These fees are paid to an affiliate of the Company.

Contract owners may, with certain restrictions, transfer their assets between the Separate Account and a fixed dollar contract (fixed account) maintained in the accounts of the Company. The fixed account assets are not reflected in the accompanying financial statements. In addition, the Separate Account portion of contract owner loans is transferred to the accounts of the Company for administration and collection. Loan repayments are transferred to the Separate Account at the direction of the contract owner. For the years ended December 31, 2023 and 2022, total transfers to the Separate Account from the fixed account were $8,802,727 and $10,036,503, respectively, and total transfers from the Separate Account to the fixed account were $15,188,530 and $23,672,846, respectively. Transfers from the Separate Account to the fixed account are included in redemptions, and transfers to the Separate Account from the fixed account are included in purchase payments received from contract owners, as applicable, on the accompanying Statements of Changes in Contract Owners’ Equity.

(5) Fair Value Measurement

FASB ASC 820, Fair Value Measurements and Disclosures, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Separate Account generally uses the market approach as the valuation technique due to the nature of the mutual fund investments offered in the Separate Account. This technique maximizes the use of observable inputs and minimizes the use of unobservable inputs.

In accordance with FASB ASC 820, the Separate Account categorized its financial instruments into a three-level hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument in its entirety.

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

The Separate Account categorizes financial assets recorded at fair value as follows:

• Level 1 – Unadjusted quoted prices accessible in active markets and mutual funds where the value per share (unit) is determined and published and is the basis for current transactions for identical assets or liabilities at the measurement date.

• Level 2 – Unadjusted quoted prices for similar assets or liabilities in active markets, quotes prices for identical or similar assets or liabilities in markets that are not active or inputs (other than quotes prices) that are observable or that are derived principally from or corroborated by observable market data through correlation or other means. Primary inputs to this valuation technique may include comparative trades, bid/asks, interest rate movements, U.S. Treasury rates, Secures Overnight Financing Rate, prime rates, cash flows, maturity dates, callability, estimated prepayments and/or underlying collateral values.

• Level 3 – Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate about the assumptions market participants would use at the measurement date in pricing the asset or liability. Consideration is given to the risk inherent in both the method of valuation and the valuation inputs.

The investments used by all subaccounts are mutual funds and are valued using daily Net Asset Values (NAVs), which are deemed to approximate fair values. As such, all funds are classified as Level 1 Investments.

The cost of purchases and proceeds from sales of Investments for the year ended December 31, 2023 are as follows:

Subaccount Abbreviation*	Purchases of Investments		Sales of Investments
ALVGIB		49,681		31,934
ALVIVB		271,787		342,065
ALVPGB		57,211		107,026
ALVSVB		759,822		1,010,814
SVOF		8,546		38,664
WFVSCG		100,541		763,700
ACVI		28,623		114,320
ACVIG		1,018,718		5,724,604
ACVIG2		10,128		209,689
ACVIP2		689,714		2,718,674
ACVMV1		2,047,999		2,315,316
ACVMV2		78,845		43,314
ACVU1		3,349		2,646
ACVV		189,505		200,866
ACVV2		373,457		398,395
AMVBC4		533,579		211,009
AMVGS4		23,771		38
AMVGV2		878,528		732,738
AMVNW4		350,014		43,475
BRVED3		1,517,374		739,009
BRVHY3		9,932,600		9,813,818
BRVTR3		1,123,038		1,599,183
MLVGA3		614,965		2,026,904
DCAP		5,589		18,677
DSIF		14,605,632		27,905,878
DSRG		4,356,746		3,567,805
DSRGS		1,573		269
DVMCSS		148,220		203,406
DVSCS		1,394,666		1,777,811
CLVHY2		49,049		95,761
DWVSVS		400,515		489,758
ETVFR		1,453,626		1,157,943
FHIBS		37,201		110,327
FQB		1,162,046		4,281,611
FQBS		29,656		93,501
FVU2S		2,622		17,950
FB2		6,361,741		3,244,445
FC2		1,903,821		1,038,660
FCS		665,872		1,504,467
FEI2		122,475		300,500

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

FEIS	6,628,874	18,803,465
FEMS2	580,575	537,173
FF10S	704,601	2,027,232
FF10S2	1,476	2,915
FF20S	637,436	2,394,669
FF20S2	4,915	10,652
FF30S	510,916	1,005,448
FF30S2	5,841	12,180
FG2	176,317	483,550
FGI2	684,237	865,488
FGOS	66,315	116,468
FGS	10,783,867	22,539,129
FHIS	62,699,502	43,780,835
FIGBS	2,094,988	2,581,297
FMC2	49,158	138,081
FMCS	770,075	2,228,700
FNRS2	1,625,441	6,490,949
FO2	12,792	63,486
FOS	934,744	2,821,927
FRESS2	524,415	162,669
FVFRHI	339,410	47,100
FVSS	1,953,275	2,591,035
FVSS2	241,826	209,440
FTVDM2	210,181	466,656
FTVFA2	96,814	256,603
FTVGI2	164,298	1,487,578
FTVIS2	2,864,413	3,506,266
FTVRD2	71,262	88,817
FTVSV2	748,364	885,407
TIF2	516,811	817,347
GVGMNS	66,305	2,473
GVMSAS	7,793	4,409
RVARS	338,895	922,304
SBLD	178,014	55,217
SBLJ	13,374	36,652
SBLN	12,825	30,026
SBLO	143,349	40,966
SBLP	17,517	39,992
SBLQ	57,878	55,201
SBLV	140,422	189,877
SBLX	8,980	17,712
SBLY	10,526	43,964
ACC2	303,328	410,137
ACEG	469	568
AVCE2	8,958	68,783
AVGI	75	36
IVHS	45,951	42,944
IVKEI1	26,296	50,554
IVMCC2	35,182	39,297
IVRE	11,050	7,978
OVAG	245,966	4,914,426
OVAG2	42,041	216,910
OVGI	24,269	25,925
OVGR	54,439	529,596
OVGS	9,591,598	10,419,181
OVGSS	64,776	119,340
OVIGS	438,762	442,923
OVSB	371,605	560,199
OVSBS	6,770	94,392
OVSC	770,441	996,918

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

OVSCS	3,572	29,173
WRASP	1,907,238	5,628,724
WRBDP	1,905,504	3,251,183
WRBP	267	7,720
WRCEP	6,931,072	9,502,059
WRDIV	574,685	1,117,423
WRENG	129,005	310,349
WRGNR	263,408	462,960
WRGP	9,990,652	12,868,833
WRHIP	2,191,247	3,502,626
WRI2P	384,314	1,014,021
WRIP	3,501,602	2,155,240
WRLTBP	473,902	702,974
WRMCG	2,714,412	2,620,966
WRRESP	687,927	720,029
WRSCP	4,741,909	3,570,436
WRSCV	812,402	728,719
WRSTP	3,250,417	6,935,619
WRVP	281	490
JABS	1,148,500	78,576
JACAS	2,301,695	11,033,696
JAFBS	840,474	206,207
JAGSEI	40,293	9,009
JAGTS	5,852,773	6,359,137
JAIGS	984,898	3,965,964
LZREMS	440,297	526,483
LJPMVS	11,669,632	1,375,885
LOVTRC	444,979	326,469
M2IGSS	16,137	26,599
MMCGSC	6,528	33,395
MNDSC	145,088	279,196
MV2RIS	47,607	209,284
MV3MVS	60,762	59,835
MVFSC	2,102,133	3,546,508
MVIGSC	389,939	244,787
MVIVSC	1,250,635	2,105,176
MSEM	189,225	235,099
MSGI2	288,133	348,662
MSVEG2	2,037,499	1,584,859
MSVMG	945	25,409
MSVRE	17,012	16,653
DTRTFB	165,003	110,347
EIF	1,904,248	2,167,109
GBF	1,984,249	5,442,486
GBF2	36,251	153,429
GEM	368,270	1,022,843
GEM2	11,609	19,321
GIG	448,161	1,885,309
GVAAA2	9,858,128	9,771,318
GVABD2	1,054,961	2,500,241
GVAGG2	3,058,044	2,809,075
GVAGI2	2,294,712	2,797,607
GVAGR2	5,477,676	6,706,540
GVDMA	1,146,899	4,993,032
GVDMC	65,513	4,202,530
GVEX1	518,823	253,525
GVEX2	4,752,756	5,417,206
GVIDA	441,297	2,510,105
GVIDC	466,608	4,121,592
GVIDM	577,050	11,261,500

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

GVIX8	722,031	887,343
HIBF	1,503,734	2,632,774
IDPG2	10,252	167,228
IDPGI2	15,178	586
MCIF	4,642,157	9,179,089
MCIF2	141,008	334,599
MSBF	4,176,839	4,029,541
NAMAA2	278,588	286,316
NAMGI2	23,286	16,052
NCPG2	7,629	3,057
NCPGI2	168	5,400
NVAMV1	7,545,407	13,680,051
NVAMV2	71,145	101,117
NVAMVX	1,796,004	2,229,388
NVAMVZ	137,839	260,093
NVCBD1	733,712	2,594,990
NVCBD2	6,712	8,582
NVCCA2	297,391	559,008
NVCCN2	236,010	937,767
NVCMA2	369,875	396,735
NVCMC2	256,089	810,288
NVCMD2	792,021	2,436,246
NVCRA2	497,619	378,312
NVCRB2	1,552,603	545,689
NVDBL2	56,415	764,532
NVDCA2	96,612	930,019
NVFIII	82,381	112,871
NVGEII	538,256	45,208
NVIE6	499,889	47,913
NVLCP1	256,527	201,283
NVLCP2	409,057	360,783
NVLCPP	1,323,007	1,939,133
NVMGA2	26,453	37,993
NVMIG1	602,073	3,173,094
NVMIVX	453,014	681,540
NVMIVZ	5,332	18,956
NVMLG1	4,699,685	4,639,294
NVMLG2	27,531	82,194
NVMM2	14,384,919	10,870,346
NVMMG1	287,665	6,944,010
NVMMG2	23,931	709,298
NVMMV2	6,523,183	5,338,235
NVNMO1	4,329,246	5,143,499
NVNMO2	134,919	147,869
NVNSR1	409,444	332,844
NVOLG1	7,049,778	57,032,229
NVOLG2	142,092	1,018,390
NVRE1	1,912,246	5,894,711
NVSIX2	431,723	663,697
NVSTB2	384,232	1,020,541
NVTIV3	23,570	172,989
SAM	95,776,797	107,103,109
SCF	1,030,006	9,192,582
SCF2	31,790	57,169
SCGF	444,794	2,391,357
SCGF2	3,059	23,767
SCVF	3,420,408	5,564,884
SCVF2	23,448	86,271
TRF	9,834,929	10,764,676
TRF2	24,020	7,191

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

AMCG	1,098	8,661
AMMCGS	250,473	135,227
AMSRS	140,246	700,710
AMTB	1,052,281	1,934,547
PMVAAD	101,342	185,695
PMVEBD	177,473	302,057
PMVFAD	105,601	158,901
PMVIV	254,306	2,915
PMVLAD	1,043,695	3,659,206
PMVRRA	32,499	113,265
PMVSTA	1,860,384	1,976,594
PVEIB	1,147,425	633,826
PVIGIB	206,684	294,993
PVNOB	10,292	56
PVTIGB	542,626	286,114
ROCMC	21,083	36,650
TRHS2	1,517,767	5,553,683
TRMCG2	307,213	954
VWEM	370,435	1,534,433
VWHA	132,157	448,171
VWHAS	444,772	2,987,504
VRVDRA	205,626	294,499

* Represents abbreviation of investment name. For full investment name and related abbreviation, see note 1(b).

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

(6) Financial Highlights

The Company offers several variable annuity products through the Separate Account that have unique combinations of features and fees that are assessed to the contract owner. Differences in fee structures result in a variety of contract expense rates, unit fair values and total returns. The following tabular presentation is a summary of units, unit fair values, contract owners’ equity outstanding and contract expense rates for variable annuity contracts as of December 31, 2023, and the investment income ratio and total return for each of the periods in the five-year period ended December 31, 2023. The information is presented as a value or range of minimum to maximum values based upon product grouping. The range is determined by identifying the lowest and the highest contract expense rate for contracts with units outstanding as of the balance sheet date. The unit fair values and total returns related to these identified contract expense rates are also disclosed as a value or range below. Accordingly, some individual contract amounts may not be within the ranges presented. Total return and investment income ratio for periods with no ending Contract Owners’ Equity were considered to be irrelevant, and therefore are not presented. Contract Owners’ Equity presented below may not agree to the Contract Owners’ Equity presented in the Statements of Changes in Contract Owners’ Equity due to reserves for annuity contracts in payout.

	Contract  Expense  Rate*				Units		Unit  Fair  Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Dynamic Asset Allocation Portfolio: Class B (ALVDAB)
2020		0.95%	to	1.35%		24,268		14.36	to	13.87		341,608		1.30%		3.86%	to	3.45%
2019		0.95%	to	1.35%		33,133		13.83	to	13.41		449,541		1.82%		14.15%	to	13.69%
AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class B (ALVGIB)
2023		1.50%	to	2.60%		16,511		34.65	to	27.16		523,983		1.29%		10.05%	to	8.83%
2022		1.50%	to	2.60%		17,177		31.48	to	24.96		496,994		1.11%		-5.85%	to	-6.90%
2021		1.50%	to	2.60%		18,343		33.44	to	26.81		566,488		0.65%		25.92%	to	24.52%
2020		1.50%	to	2.60%		22,988		26.55	to	21.53		568,703		1.33%		0.94%	to	-0.19%
2019		1.50%	to	2.60%		24,931		26.31	to	21.57		614,859		1.00%		21.76%	to	20.40%
AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)
2023		0.95%	to	1.20%		7,797		9.59	to	9.45		74,375		0.50%		13.74%	to	13.46%
2022		0.95%	to	1.20%		15,190		8.43	to	8.33		127,582		3.66%		-14.61%	to	-14.83%
2021		0.95%	to	1.05%		3,235		9.87	to	9.84		31,869		1.74%		9.80%	to	9.69%
2020		1.05%				709		8.97				6,357		1.36%		1.14%
2019		1.05%				986		8.87				8,742		0.58%		15.56%
AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Large Cap Growth Portfolio: Class B (ALVPGB)
2023		1.50%	to	2.60%		17,334		53.78	to	42.17		864,421		0.00%		32.77%	to	31.30%
2022		1.50%	to	2.60%		19,409		40.51	to	32.12		734,009		0.00%		-29.76%	to	-30.54%
2021		1.50%	to	2.60%		18,926		57.67	to	46.24		1,038,542		0.00%		26.72%	to	25.31%
2020		1.50%	to	2.60%		30,587		45.51	to	36.90		1,302,020		0.00%		33.12%	to	31.64%
2019		1.50%	to	2.60%		34,807		34.19	to	28.03		1,116,243		0.00%		32.35%	to	30.87%
AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)
2023		0.95%	to	2.60%		116,023		29.28	to	34.15		3,475,585		0.78%		15.76%	to	13.83%
2022		0.95%	to	2.60%		133,341		25.29	to	30.00		3,537,263		0.82%		-16.62%	to	-18.00%
2021		0.95%	to	2.60%		157,367		30.33	to	36.59		5,035,485		0.58%		34.32%	to	32.08%
2020		0.95%	to	2.60%		143,577		22.58	to	27.70		3,457,484		0.77%		2.07%	to	0.37%
2019		0.95%	to	2.60%		170,467		22.12	to	27.60		4,018,110		0.32%		18.76%	to	16.79%
Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)
2023		1.60%	to	1.75%		1,991		41.46	to	39.99		79,769		0.00%		24.48%	to	24.29%
2022		1.60%	to	1.75%		2,912		33.30	to	32.17		93,815		0.00%		-22.07%	to	-22.19%
2021		1.60%	to	1.75%		3,321		42.74	to	41.35		137,950		0.04%		22.78%	to	22.59%
2020		1.60%	to	1.75%		3,390		34.81	to	33.73		114,855		0.38%		19.07%	to	18.89%
2019		1.60%	to	1.75%		5,414		29.23	to	28.37		154,073		0.29%		29.36%	to	29.17%
Allspring Variable Trust - VT Small Cap Growth Fund: Class 2 (WFVSCG)
2023		0.95%	to	1.80%		94,175		42.63	to	37.57		3,901,204		0.00%		3.12%	to	2.24%
2022		0.95%	to	2.00%		108,871		41.34	to	35.73		4,383,749		0.00%		-35.04%	to	-35.73%
2021		0.95%	to	2.00%		128,619		63.64	to	55.60		7,988,164		0.00%		6.62%	to	5.49%
2020		0.95%	to	2.05%		149,852		59.69	to	52.40		8,755,061		0.00%		56.29%	to	54.55%
2019		0.95%	to	2.05%		159,441		38.19	to	33.90		5,963,213		0.00%		23.64%	to	22.27%
American Century Variable Portfolios, Inc. - American Century VP International Fund: Class I (ACVI)
2023		0.95%	to	1.30%		34,326		27.97	to	23.52		931,066		1.41%		11.48%	to	11.10%
2022		0.95%	to	1.30%		37,602		25.09	to	21.17		916,728		1.51%		-25.46%	to	-25.72%
2021		0.95%	to	1.75%		41,207		33.66	to	22.36		1,335,499		0.16%		7.71%	to	6.85%
2020		0.95%	to	1.75%		49,565		31.25	to	20.92		1,504,809		0.48%		24.68%	to	23.68%
2019		0.95%	to	1.75%		56,286		25.06	to	16.92		1,373,477		40.20%		27.20%	to	26.17%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
American Century Variable Portfolios, Inc. - American Century VP Disciplined Core Value Fund: Class I (ACVIG)
2023		0.95%	to	2.20%		960,620		44.74	to	23.43		39,845,074		1.53%		7.62%	to	6.27%
2022		0.95%	to	2.20%		1,086,118		41.58	to	22.04		41,945,069		1.75%		-13.56%	to	-14.65%
2021		0.95%	to	2.20%		1,201,087		48.10	to	25.83		53,744,686		1.07%		22.49%	to	20.93%
2020		0.95%	to	2.20%		1,314,776		39.27	to	21.36		48,060,021		1.94%		10.75%	to	9.35%
2019		0.95%	to	2.25%		1,482,927		35.46	to	18.31		49,018,042		2.23%		22.77%	to	21.16%
American Century Variable Portfolios, Inc. - American Century VP Disciplined Core Value Fund: Class II (ACVIG2)
2023		1.50%	to	2.60%		13,877		31.56	to	24.75		391,048		1.26%		6.62%	to	5.43%
2022		1.50%	to	2.60%		20,656		29.60	to	23.47		563,008		1.52%		-14.14%	to	-15.10%
2021		1.50%	to	2.60%		22,034		34.48	to	27.65		703,177		0.82%		21.49%	to	20.14%
2020		1.50%	to	2.60%		25,254		28.38	to	23.01		665,347		1.73%		9.78%	to	8.55%
2019		1.50%	to	2.60%		28,524		25.85	to	21.20		690,830		1.83%		21.89%	to	20.53%
American Century Variable Portfolios II, Inc. - American Century VP Inflation Protection Fund: Class II (ACVIP2)
2023		0.95%	to	2.60%		877,336		15.32	to	10.82		12,976,731		3.25%		2.42%	to	0.72%
2022		0.95%	to	2.60%		1,033,270		14.96	to	10.75		14,952,722		4.97%		-13.90%	to	-15.33%
2021		0.95%	to	2.60%		1,159,486		17.37	to	12.69		19,511,187		3.12%		5.26%	to	3.51%
2020		0.95%	to	2.60%		1,214,499		16.50	to	12.26		19,426,707		1.36%		8.51%	to	6.71%
2019		0.95%	to	2.60%		1,263,986		15.21	to	11.49		18,718,154		2.29%		7.87%	to	6.07%
American Century Variable Portfolios, Inc. - American Century VP Mid Cap Value Fund: Class I (ACVMV1)
2023		0.95%	to	2.05%		318,417		37.60	to	30.87		11,653,591		2.30%		5.13%	to	3.96%
2022		0.95%	to	2.05%		370,186		35.77	to	29.69		12,899,220		2.24%		-2.13%	to	-3.21%
2021		0.95%	to	2.05%		396,258		36.55	to	30.68		14,119,589		1.14%		22.03%	to	20.68%
2020		0.95%	to	2.05%		433,752		29.95	to	25.42		12,680,263		1.77%		0.25%	to	-0.86%
2019		0.95%	to	2.05%		549,257		29.87	to	25.64		16,058,010		2.07%		27.92%	to	26.50%
American Century Variable Portfolios, Inc. - American Century VP Ultra(R) Fund: Class I (ACVU1)
2023		1.75%				1,056		51.25				54,104		0.00%		41.01%
2022		1.75%				1,091		36.34				39,650		0.00%		-33.56%
2021		1.75%				1,156		54.70				63,232		0.00%		21.01%
2020		1.75%				1,197		45.20				54,109		0.00%		47.23%
2019		1.75%				1,197		30.70				36,750		0.00%		32.22%
American Century Variable Portfolios, Inc. - American Century VP Value Fund: Class I (ACVV)
2023		0.95%	to	1.30%		21,527		58.31	to	57.38		1,267,496		2.31%		8.06%	to	7.67%
2022		0.95%	to	1.30%		23,890		53.96	to	53.29		1,303,489		2.04%		-0.41%	to	-0.76%
2021		0.95%	to	1.30%		28,640		54.18	to	53.70		1,570,824		1.75%		23.33%	to	22.88%
2020		0.95%	to	1.30%		30,047		43.93	to	43.70		1,337,848		4.15%		0.00%
2019		0.95%	to	1.30%		35,430		43.92	to	43.84		1,580,331		140.04%		0.26%	to	0.25%
American Century Variable Portfolios, Inc. - American Century VP Value Fund: Class II (ACVV2)
2023		0.95%	to	1.40%		45,624		17.29	to	17.00		784,340		2.22%		7.99%	to	7.50%
2022		0.95%	to	1.40%		53,218		16.01	to	15.82		847,799		2.05%		-0.64%	to	-1.09%
2021		0.95%	to	1.40%		13,371		16.11	to	15.99		214,695		1.62%		23.10%	to	22.54%
2020		1.10%	to	1.40%		7,046		13.08	to	13.05		91,993		6.67%		30.76%	to	30.50%
American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)
2023		0.95%	to	1.35%		58,145		11.39	to	11.32		660,902		1.92%		15.86%	to	15.40%
2022		0.95%	to	1.30%		28,336		9.83	to	9.81		278,481		3.26%		-1.66%	to	-1.89%	****
American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)
2023		0.95%	to	1.20%		2,246		10.76	to	10.74		24,139		0.01%		7.59%	to	7.41%	****
American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 2 (AMVGV2)
2023		0.95%	to	1.35%		35,789		9.69	to	9.63		346,245		3.15%		1.91%	to	1.50%
2022		0.95%	to	1.35%		22,718		9.51	to	9.48		215,925		4.55%		-4.92%	to	-5.17%	****
American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)
2023		0.95%	to	1.30%		38,968		10.82	to	10.76		421,194		1.71%		14.57%	to	14.17%
2022		0.95%	to	1.20%		8,974		9.44	to	9.43		84,712		1.68%		-5.58%	to	-5.73%	****
BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)
2023		0.95%	to	1.60%		298,964		19.37	to	18.29		5,703,975		1.80%		10.93%	to	10.20%
2022		0.95%	to	1.60%		273,252		17.46	to	16.60		4,702,167		1.44%		-5.01%	to	-5.64%
2021		0.95%	to	1.45%		232,250		18.38	to	17.77		4,213,963		1.32%		19.16%	to	18.55%
2020		0.95%	to	1.45%		296,372		15.42	to	14.99		4,524,177		1.91%		2.59%	to	2.07%
2019		0.95%	to	1.45%		334,983		15.04	to	14.68		4,989,255		1.88%		26.25%	to	25.61%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)
2023		0.95%	to	1.80%		614,775		13.12	to	12.18		7,932,853		6.30%		11.87%	to	10.91%
2022		0.95%	to	1.80%		648,678		11.73	to	10.98		7,490,935		4.74%		-11.41%	to	-12.17%
2021		0.95%	to	1.80%		2,385,341		13.24	to	12.50		31,099,174		4.74%		4.23%	to	3.33%
2020		0.95%	to	1.80%		2,644,421		12.71	to	12.10		33,151,377		3.64%		6.00%	to	5.09%
2019		0.95%	to	1.80%		351,457		11.99	to	11.51		4,173,806		5.13%		13.77%	to	12.79%
BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)
2023		0.95%	to	1.40%		350,647		10.05	to	9.66		3,471,205		3.58%		4.43%	to	3.95%
2022		0.95%	to	1.60%		408,786		9.63	to	9.15		3,885,709		1.89%		-15.09%	to	-15.64%
2021		0.95%	to	1.60%		415,826		11.34	to	10.85		4,657,310		1.47%		-2.62%	to	-3.26%
2020		0.95%	to	1.60%		547,624		11.64	to	11.22		6,302,120		1.69%		7.51%	to	6.81%
2019		0.95%	to	1.40%		209,631		10.83	to	10.60		2,256,802		2.58%		8.11%	to	7.62%
BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)
2023		0.95%	to	2.20%		819,665		22.15	to	18.39		17,674,358		2.48%		11.42%	to	10.02%
2022		0.95%	to	2.20%		900,708		19.88	to	16.71		17,453,968		0.00%		-16.87%	to	-17.92%
2021		0.95%	to	2.20%		987,456		23.91	to	20.36		23,043,143		0.81%		5.40%	to	4.07%
2020		0.95%	to	2.20%		1,115,923		22.69	to	19.56		24,748,369		1.26%		19.56%	to	18.05%
2019		0.95%	to	2.20%		1,254,561		18.97	to	16.57		23,316,567		1.21%		16.64%	to	15.17%
BNY Mellon Variable Investment Fund - Appreciation Portfolio: Initial Shares (DCAP)
2023		1.10%	to	1.30%		3		54.13	to	50.69		146		0.69%		19.65%	to	19.41%
2022		1.10%	to	1.30%		7		45.24	to	42.45		359		0.61%		-18.97%	to	-19.13%
2021		1.10%	to	1.30%		3		55.83	to	52.49		164		0.44%		25.74%	to	25.48%
2020		0.95%	to	2.20%		1,106,405		48.99	to	26.09		50,619,173		0.79%		22.51%	to	20.97%
2019		0.95%	to	2.20%		1,252,432		39.99	to	21.57		46,836,385		1.24%		34.80%	to	33.10%
BNY Mellon Variable Investment Fund - Appreciation Portfolio: Service Shares (DCAPS)
2020		1.50%	to	2.60%		22,823		33.28	to	26.99		692,503		0.55%		21.53%	to	20.17%
2019		1.50%	to	2.60%		26,283		27.38	to	22.46		665,280		0.93%		33.75%	to	32.25%
BNY Mellon Variable Investment Fund - Opportunistic Small Cap Portfolio: Initial Shares (DSC)
2021		0.95%				165		32.38				5,343		0.11%		15.36%
2020		0.95%				168		28.07				4,716		0.64%		18.75%
2019		0.95%				169		23.64				3,995		0.00%		20.62%
BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)
2023		0.95%	to	2.25%		5,151,225		60.14	to	28.48		291,350,821		1.41%		24.75%	to	23.10%
2022		0.95%	to	2.25%		5,626,144		48.21	to	23.14		255,403,892		1.33%		-19.09%	to	-20.15%
2021		0.95%	to	2.25%		6,229,641		59.59	to	28.98		349,726,688		1.13%		27.19%	to	25.52%
2020		0.95%	to	2.25%		6,977,342		46.85	to	23.08		307,756,817		1.57%		16.89%	to	15.35%
2019		0.95%	to	2.25%		7,902,392		40.08	to	20.01		298,318,773		1.87%		29.94%	to	28.23%
BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)
2023		0.95%	to	1.85%		845,770		44.10	to	25.01		35,648,294		0.73%		22.67%	to	21.54%
2022		0.95%	to	1.85%		927,194		35.95	to	20.58		31,893,947		0.53%		-23.60%	to	-24.30%
2021		0.95%	to	1.85%		1,036,599		47.06	to	27.18		46,665,916		0.75%		25.80%	to	24.65%
2020		0.95%	to	1.85%		1,109,719		37.41	to	21.80		39,778,531		1.11%		22.96%	to	21.85%
2019		0.95%	to	1.85%		1,246,109		30.43	to	17.89		36,386,965		1.93%		33.08%	to	31.87%
BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Service Shares (DSRGS)
2023		2.10%	to	2.60%		459		30.75	to	27.52		14,085		0.53%		20.92%	to	20.31%
2022		2.10%	to	2.60%		459		25.43	to	22.87		11,638		0.32%		-24.68%	to	-25.06%
2021		1.60%	to	2.60%		575		37.32	to	30.52		19,782		0.84%		24.66%	to	23.39%
2020		1.60%	to	2.60%		1,372		29.94	to	24.74		38,085		0.88%		21.88%	to	20.64%
2019		1.60%	to	2.60%		1,384		24.56	to	20.51		31,645		1.47%		31.87%	to	30.53%
BNY Mellon Investment Portfolios - MidCap Stock Portfolio: Service Shares (DVMCSS)
2023		0.95%	to	1.95%		73,710		17.91	to	16.24		1,303,096		0.55%		16.87%	to	15.69%
2022		0.95%	to	1.95%		79,027		15.33	to	14.03		1,196,259		0.46%		-15.10%	to	-15.95%
2021		0.95%	to	1.95%		91,195		18.05	to	16.70		1,627,759		0.44%		24.37%	to	23.11%
2020		0.95%	to	2.20%		97,380		14.51	to	13.33		1,397,061		0.58%		6.82%	to	5.47%
2019		0.95%	to	2.20%		112,707		13.59	to	12.64		1,518,150		0.42%		18.72%	to	17.22%
BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)
2023		0.95%	to	2.25%		359,675		49.27	to	37.01		17,108,507		1.08%		14.29%	to	12.80%
2022		0.95%	to	2.25%		389,362		43.11	to	32.81		16,221,189		0.94%		-17.44%	to	-18.52%
2021		0.95%	to	2.25%		427,152		52.21	to	40.26		21,590,140		0.69%		24.95%	to	23.31%
2020		0.95%	to	2.25%		495,529		41.79	to	32.65		20,081,001		1.12%		9.59%	to	8.15%
2019		0.95%	to	2.25%		588,856		38.13	to	30.19		21,786,794		0.91%		21.05%	to	19.46%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - High Yield Bond Fund: Class 2 (CLVHY2)
2023		0.95%	to	1.70%		32,871		12.02	to	11.42		391,460		5.22%		10.81%	to	9.97%
2022		0.95%	to	1.70%		38,484		10.84	to	10.39		414,515		5.07%		-11.63%	to	-12.29%
2021		0.95%	to	1.70%		51,311		12.27	to	11.84		625,702		5.14%		3.79%	to	3.01%
2020		0.95%	to	1.70%		48,004		11.82	to	11.50		565,531		4.77%		5.30%	to	4.50%
2019		0.95%	to	1.70%		75,041		11.23	to	11.00		841,014		4.89%		15.42%	to	14.54%
Delaware VIP Trust - Delaware VIP Small Cap Value Series: Service Class (DWVSVS)
2023		0.95%	to	1.75%		120,158		21.45	to	19.68		2,531,490		0.62%		8.06%	to	7.19%
2022		0.95%	to	1.75%		129,614		19.85	to	18.36		2,531,150		0.56%		-13.19%	to	-13.89%
2021		0.95%	to	1.75%		142,393		22.87	to	21.32		3,208,121		0.63%		32.74%	to	31.67%
2020		0.95%	to	1.75%		149,548		17.23	to	16.19		2,544,308		1.05%		-3.11%	to	-3.89%
2019		0.95%	to	1.75%		186,794		17.78	to	16.84		3,283,434		0.78%		26.51%	to	25.48%
Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)
2023		0.95%	to	1.65%		655,168		12.44	to	11.62		7,994,127		8.21%		10.16%	to	9.38%
2022		0.95%	to	1.65%		676,565		11.30	to	10.62		7,507,519		4.45%		-3.66%	to	-4.34%
2021		0.95%	to	1.80%		761,446		11.73	to	10.98		8,805,825		2.88%		2.64%	to	1.76%
2020		0.95%	to	1.65%		450,828		11.42	to	10.90		5,082,354		3.36%		1.03%	to	0.32%
2019		0.95%	to	1.80%		710,054		11.31	to	10.84		7,938,871		4.35%		6.06%	to	5.16%
Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Service Shares (FHIBS)
2023		1.50%	to	2.60%		24,298		26.40	to	20.70		603,653		5.95%		10.79%	to	9.55%
2022		1.50%	to	2.60%		28,444		23.83	to	18.90		641,392		5.44%		-13.24%	to	-14.21%
2021		1.50%	to	2.60%		31,308		27.47	to	22.03		816,274		4.58%		2.88%	to	1.73%
2020		1.50%	to	2.60%		38,961		26.70	to	21.65		972,812		5.88%		3.88%	to	2.72%
2019		1.50%	to	2.60%		42,055		25.70	to	21.08		1,012,847		5.81%		12.42%	to	11.16%
Federated Hermes Insurance Series - Federated Hermes Quality Bond Fund II: Primary Shares (FQB)
2023		0.95%	to	2.25%		1,558,433		21.04	to	15.74		31,264,497		2.69%		5.15%	to	3.76%
2022		0.95%	to	2.25%		1,742,339		20.01	to	15.17		33,325,448		2.63%		-10.14%	to	-11.31%
2021		0.95%	to	2.25%		1,960,490		22.27	to	17.11		41,735,584		2.52%		-2.32%	to	-3.61%
2020		0.95%	to	2.25%		2,107,777		22.80	to	17.75		46,082,971		2.77%		7.09%	to	5.69%
2019		0.95%	to	2.25%		2,294,371		21.29	to	16.79		46,926,959		3.01%		8.40%	to	6.98%
Federated Hermes Insurance Series - Federated Hermes Quality Bond Fund II: Service Shares (FQBS)
2023		1.50%	to	2.60%		61,813		15.26	to	11.96		871,680		2.44%		4.27%	to	3.10%
2022		1.50%	to	2.60%		66,710		14.63	to	11.60		907,065		2.34%		-10.81%	to	-11.81%
2021		1.50%	to	2.60%		70,557		16.41	to	13.16		1,080,602		2.34%		-3.14%	to	-4.22%
2020		1.50%	to	2.60%		99,708		16.94	to	13.73		1,571,916		2.63%		6.24%	to	5.06%
2019		1.50%	to	2.60%		113,471		15.94	to	13.07		1,698,062		2.65%		7.53%	to	6.33%
Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Service Shares (FVU2S)
2023		1.50%	to	2.20%		6,787		11.16	to	10.74		74,811		1.69%		6.71%	to	5.95%
2022		1.50%	to	2.60%		8,287		10.46	to	9.96		85,485		0.00%		-15.28%	to	-16.23%
2021		1.50%	to	2.60%		7,025		12.35	to	11.89		85,371		1.62%		16.48%	to	15.18%
2020		1.50%	to	2.60%		8,454		10.60	to	10.32		88,715		2.10%		-0.80%	to	-1.91%
2019		1.50%	to	2.60%		8,366		10.69	to	10.52		88,843		2.09%		18.12%	to	16.80%
Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)
2023		0.95%	to	1.75%		1,114,873		19.26	to	18.10		21,270,270		1.63%		20.09%	to	19.12%
2022		0.95%	to	1.75%		988,465		16.04	to	15.19		15,709,084		1.04%		-18.96%	to	-19.62%
2021		0.95%	to	1.75%		1,191,498		19.79	to	18.90		23,424,922		0.78%		16.87%	to	15.93%
2020		0.95%	to	1.70%		940,058		16.93	to	16.34		15,828,110		1.52%		20.97%	to	20.05%
2019		0.95%	to	1.70%		567,188		14.00	to	13.61		7,902,913		1.72%		22.94%	to	22.01%
Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)
2023		0.95%	to	2.25%		183,123		17.26	to	47.03		3,153,685		0.30%		31.86%	to	30.13%
2022		0.95%	to	1.70%		131,257		13.09	to	40.58		1,715,581		0.26%		-27.19%	to	-27.74%
2021		0.95%	to	1.70%		133,671		17.98	to	56.16		2,400,875		0.03%		26.30%	to	25.34%
2020		0.95%	to	1.70%		128,285		14.24	to	44.81		1,824,278		0.03%		29.00%	to	28.02%
2019		0.95%	to	1.35%		30,424		11.04	to	11.01		335,690		0.19%		10.37%	to	10.07%
Fidelity Variable Insurance Products Fund - VIP Contrafund(R)Portfolio: Service Class (FCS)
2023		0.95%	to	1.30%		187,887		84.62	to	76.16		15,235,439		0.36%		32.07%	to	31.61%
2022		0.95%	to	1.30%		205,016		64.07	to	57.87		12,611,749		0.40%		-27.08%	to	-27.34%
2021		0.95%	to	1.30%		223,307		87.86	to	79.64		18,871,957		0.05%		26.49%	to	26.05%
2020		0.95%	to	1.30%		246,911		69.46	to	63.18		16,527,271		0.15%		29.19%	to	0.29%
2019		0.95%	to	1.30%		269,187		53.76	to	49.08		13,969,438		37.86%		30.20%	to	0.30%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)
2023		1.50%	to	2.60%		72,722		31.55	to	24.73		2,160,331		1.70%		8.73%	to	7.52%
2022		1.50%	to	2.60%		81,642		29.02	to	23.01		2,228,597		1.68%		-6.66%	to	-7.70%
2021		1.50%	to	2.60%		88,874		31.09	to	24.93		2,607,944		1.57%		22.74%	to	21.37%
2020		1.50%	to	2.60%		105,594		25.33	to	20.54		2,531,539		1.61%		4.84%	to	3.67%
2019		1.50%	to	2.60%		118,358		24.16	to	19.81		2,717,916		1.82%		25.20%	to	23.80%
Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class (FEIS)
2023		0.95%	to	2.20%		3,090,099		44.58	to	25.37		134,454,839		1.78%		9.49%	to	8.11%
2022		0.95%	to	2.20%		3,503,409		40.72	to	23.47		139,432,015		1.76%		-5.99%	to	-7.17%
2021		0.95%	to	2.20%		3,842,548		40.50	to	25.28		162,801,966		1.75%		23.64%	to	22.08%
2020		0.95%	to	2.20%		4,321,205		35.03	to	20.71		148,350,876		1.69%		5.53%	to	4.20%
2019		0.95%	to	2.20%		4,965,109		33.19	to	19.87		161,728,813		1.94%		26.12%	to	24.52%
Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)
2023		0.95%	to	1.65%		129,487		11.34	to	10.89		1,461,206		1.88%		8.45%	to	7.69%
2022		0.95%	to	1.65%		128,141		10.45	to	10.11		1,334,230		1.59%		-21.13%	to	-21.68%
2021		0.95%	to	1.65%		109,905		13.25	to	12.91		1,451,507		1.66%		-3.34%	to	-4.02%
2020		0.95%	to	1.45%		83,631		13.71	to	13.53		1,144,134		0.72%		29.63%	to	28.98%
2019		0.95%	to	1.45%		54,591		10.58	to	10.49		575,756		1.68%		27.97%	to	27.32%
Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2010 Portfolio: Service Class (FF10S)
2023		0.95%	to	1.65%		227,879		19.93	to	17.58		4,374,434		3.51%		8.24%	to	7.48%
2022		0.95%	to	1.65%		326,976		18.41	to	16.36		5,850,565		1.99%		-14.39%	to	-14.99%
2021		0.95%	to	1.95%		424,077		21.50	to	18.34		8,893,027		0.92%		4.79%	to	3.73%
2020		0.95%	to	1.95%		445,767		20.52	to	17.68		8,936,513		1.15%		11.32%	to	10.20%
2019		0.95%	to	1.95%		506,509		18.43	to	16.05		9,147,248		2.38%		14.90%	to	13.74%
Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2020 Portfolio: Service Class (FF20S)
2023		0.95%	to	1.65%		395,663		22.01	to	19.42		8,499,923		3.06%		11.27%	to	10.49%
2022		0.95%	to	1.65%		493,872		19.78	to	17.58		9,553,505		2.00%		-16.63%	to	-17.22%
2021		0.95%	to	1.65%		504,075		23.73	to	21.23		11,714,271		0.99%		8.43%	to	7.66%
2020		0.95%	to	1.65%		543,367		21.88	to	19.72		11,667,746		1.16%		13.82%	to	13.02%
2019		0.95%	to	1.65%		637,059		19.23	to	17.45		12,017,242		1.91%		18.87%	to	18.03%
Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2030 Portfolio: Service Class (FF30S)
2023		0.95%	to	1.80%		345,964		24.76	to	21.26		8,379,280		2.32%		13.47%	to	12.50%
2022		0.95%	to	1.80%		371,710		21.82	to	18.90		7,951,948		1.87%		-17.73%	to	-18.44%
2021		0.95%	to	1.80%		391,355		26.53	to	23.17		10,190,321		0.94%		11.17%	to	10.22%
2020		0.95%	to	1.80%		412,830		23.86	to	21.03		9,661,568		1.17%		15.65%	to	14.66%
2019		0.95%	to	1.80%		409,334		20.63	to	18.34		8,283,984		1.93%		23.19%	to	22.14%
Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)
2023		1.50%	to	2.50%		64,958		53.09	to	42.56		3,274,839		0.00%		33.86%	to	32.50%
2022		1.50%	to	2.50%		74,163		39.66	to	32.12		2,785,885		0.35%		-25.77%	to	-26.53%
2021		1.50%	to	2.60%		76,196		53.43	to	42.84		3,870,914		0.00%		21.06%	to	19.71%
2020		1.50%	to	2.60%		86,580		44.14	to	35.79		3,651,177		0.04%		41.40%	to	39.82%
2019		1.50%	to	2.60%		86,067		31.22	to	25.60		2,549,763		0.06%		31.97%	to	30.49%
Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)
2023		0.95%	to	1.75%		140,250		22.00	to	20.68		3,057,269		1.48%		17.24%	to	16.30%
2022		0.95%	to	1.75%		156,725		18.76	to	17.78		2,915,079		1.69%		-6.07%	to	-6.83%
2021		0.95%	to	1.75%		99,791		19.98	to	19.08		1,979,781		2.27%		24.45%	to	23.44%
2020		0.95%	to	1.40%		80,998		16.05	to	15.72		1,295,710		1.85%		6.57%	to	6.09%
2019		0.95%	to	2.25%		59,228		15.06	to	14.35		889,006		3.43%		28.45%	to	26.76%
Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class (FGOS)
2023		0.95%	to	1.15%		31,625		66.26	to	60.45		1,939,548		0.00%		44.14%	to	43.86%
2022		0.95%	to	1.15%		32,464		45.97	to	42.02		1,382,296		0.00%		-38.80%	to	-38.92%
2021		0.95%	to	1.15%		32,835		75.11	to	68.80		2,288,313		0.00%		10.77%	to	10.54%
2020		0.95%	to	1.15%		35,083		67.81	to	62.24		2,209,189		0.00%		0.67%
2019		0.95%	to	1.15%		39,496		40.63	to	37.37		1,492,653		0.00%		0.39%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class (FGS)
2023		0.95%	to	2.20%		2,815,532		77.41	to	37.22		203,153,286		0.04%		34.81%	to	33.11%
2022		0.95%	to	2.20%		3,116,169		57.42	to	27.96		166,779,748		0.51%		-25.24%	to	-26.18%
2021		0.95%	to	2.20%		3,448,588		76.81	to	37.88		247,285,845		0.00%		21.92%	to	20.38%
2020		0.95%	to	2.20%		3,860,121		63.00	to	31.47		227,768,289		0.06%		42.38%	to	40.59%
2019		0.95%	to	2.20%		4,238,904		44.25	to	22.38		175,722,429		0.17%		32.91%	to	31.23%
Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class (FHIS)
2023		0.95%	to	2.00%		2,097,750		19.98	to	14.56		42,335,137		6.88%		9.42%	to	8.30%
2022		0.95%	to	2.00%		1,262,784		18.26	to	13.44		23,166,613		4.36%		-12.40%	to	-13.32%
2021		0.95%	to	2.00%		1,435,662		20.84	to	15.51		30,115,892		4.21%		3.48%	to	2.41%
2020		0.95%	to	2.20%		1,566,897		20.14	to	14.49		31,783,885		4.68%		1.67%	to	0.39%
2019		0.95%	to	2.20%		2,066,203		19.80	to	14.43		41,359,444		5.30%		13.83%	to	12.39%
Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class (FIGBS)
2023		0.95%	to	1.85%		1,375,472		16.22	to	13.43		21,569,181		2.54%		5.11%	to	4.16%
2022		0.95%	to	1.95%		1,425,341		15.43	to	12.64		21,277,099		2.11%		-13.85%	to	-14.72%
2021		0.95%	to	1.95%		1,663,378		17.91	to	14.82		28,846,305		1.92%		-1.67%	to	-2.66%
2020		0.95%	to	1.95%		1,926,738		18.22	to	15.23		34,089,177		2.18%		8.22%	to	7.13%
2019		0.95%	to	2.10%		1,940,016		16.83	to	13.86		31,766,102		2.73%		8.54%	to	7.28%
Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)
2020		1.50%	to	2.60%		61,079		45.13	to	36.59		2,594,689		0.40%		16.10%	to	14.80%
2019		1.50%	to	2.60%		64,950		38.87	to	31.88		2,386,621		0.67%		21.32%	to	19.97%
Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class (FMCS)
2023		0.95%	to	2.15%		544,002		31.87	to	25.70		16,884,226		0.50%		13.91%	to	12.54%
2022		0.95%	to	1.95%		607,286		27.98	to	23.62		16,559,734		0.39%		-15.66%	to	-16.51%
2021		0.95%	to	1.95%		683,828		33.17	to	28.30		22,137,075		0.50%		24.31%	to	23.06%
2020		0.95%	to	2.25%		765,914		26.69	to	21.98		19,979,162		0.55%		16.92%	to	15.38%
2019		0.95%	to	1.95%		882,848		22.82	to	19.87		19,738,564		0.77%		22.18%	to	20.94%
Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)
2023		0.95%	to	1.85%		777,403		14.53	to	12.37		11,108,847		2.38%		-0.25%	to	-1.16%
2022		0.95%	to	1.95%		1,162,422		14.57	to	12.30		16,662,159		2.53%		61.33%	to	59.70%
2021		0.95%	to	1.95%		813,411		9.03	to	7.70		7,211,974		2.49%		53.36%	to	51.82%
2020		0.95%	to	1.95%		613,980		5.89	to	5.07		3,533,349		2.69%		-33.52%	to	-34.19%
2019		0.95%	to	1.95%		715,331		8.86	to	7.71		6,196,120		1.79%		8.78%	to	7.68%
Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)
2023		1.50%	to	2.20%		58,120		13.78	to	12.95		783,047		0.80%		18.42%	to	17.58%
2022		1.50%	to	2.60%		61,867		11.63	to	10.67		705,046		0.81%		-25.81%	to	-26.64%
2021		1.50%	to	2.60%		68,285		15.68	to	14.55		1,051,120		0.32%		17.60%	to	16.29%
2020		1.50%	to	2.60%		80,631		13.33	to	12.51		1,058,192		0.22%		13.60%	to	12.33%
2019		1.50%	to	2.60%		91,375		11.74	to	11.14		1,057,381		1.50%		25.59%	to	24.19%
Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class (FOS)
2023		0.95%	to	2.20%		732,737		28.03	to	17.25		20,326,225		0.92%		19.28%	to	17.77%
2022		0.95%	to	2.20%		806,797		23.50	to	14.65		18,776,418		0.96%		-25.30%	to	-26.24%
2021		0.95%	to	2.20%		842,691		31.46	to	19.86		26,284,150		0.43%		18.45%	to	16.94%
2020		0.95%	to	2.20%		939,560		26.56	to	16.98		24,779,150		0.34%		14.40%	to	12.95%
2019		0.95%	to	2.20%		1,058,629		23.22	to	15.03		24,397,326		1.64%		26.46%	to	24.87%
Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)
2023		0.95%	to	1.40%		93,175		11.51	to	11.16		1,066,335		3.02%		9.84%	to	9.34%
2022		0.95%	to	1.40%		62,778		10.48	to	10.21		655,525		0.85%		-28.38%	to	-28.70%
2021		0.95%	to	1.45%		62,184		14.63	to	14.28		903,169		0.92%		37.33%	to	36.64%
2020		0.95%	to	1.45%		53,532		10.65	to	10.45		566,962		1.61%		-7.68%	to	-8.14%
2019		0.95%	to	1.45%		70,373		11.54	to	11.38		809,365		1.59%		21.78%	to	21.17%
Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)
2023		0.95%	to	1.35%		26,446		10.71	to	10.69		283,103		13.82%		7.14%	to	6.85%	****
Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class (FVSS)
2023		0.95%	to	2.05%		166,431		49.23	to	38.65		7,862,026		1.10%		19.63%	to	18.31%
2022		0.95%	to	2.05%		189,672		41.15	to	32.67		7,490,757		1.00%		-8.07%	to	-9.09%
2021		0.95%	to	2.05%		211,392		44.77	to	35.94		9,109,113		1.44%		32.21%	to	30.74%
2020		0.95%	to	2.05%		204,170		33.86	to	27.49		6,664,993		1.20%		7.15%	to	5.96%
2019		0.95%	to	2.05%		236,859		31.60	to	25.94		7,240,770		1.57%		33.02%	to	31.54%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)
2023		0.95%	to	2.60%		18,154		11.51	to	33.33		369,851		1.01%		19.46%	to	17.48%
2022		0.95%	to	2.60%		12,770		9.63	to	28.37		290,062		1.17%		-3.66%	to	-9.75%
2021		1.50%	to	2.60%		7,533		39.21	to	31.44		270,078		1.22%		31.34%	to	29.88%
2020		1.50%	to	2.60%		8,971		29.85	to	24.20		247,801		1.04%		6.40%	to	5.21%
2019		1.50%	to	2.60%		10,243		28.05	to	23.01		265,399		1.43%		32.09%	to	30.61%
Franklin Templeton Variable Insurance Products Trust - Templeton Developing Markets VIP Fund: Class 2 (FTVDM2)
2023		0.95%	to	1.80%		178,845		11.80	to	10.86		2,079,379		2.10%		11.56%	to	10.60%
2022		0.95%	to	1.95%		203,319		10.58	to	9.69		2,122,364		2.60%		-22.72%	to	-23.50%
2021		0.95%	to	1.95%		215,032		13.69	to	12.67		2,910,897		0.86%		-6.64%	to	-7.58%
2020		0.95%	to	1.95%		218,787		14.66	to	13.70		3,175,697		4.09%		16.07%	to	14.90%
2019		0.95%	to	1.95%		308,446		12.63	to	11.93		3,855,684		0.96%		25.49%	to	24.23%
Franklin Templeton Variable Insurance Products Trust - Franklin Allocation VIP Fund: Class 2 (FTVFA2)
2023		0.95%	to	1.40%		144,755		18.40	to	17.13		2,597,191		1.47%		13.53%	to	13.01%
2022		0.95%	to	1.95%		157,442		16.21	to	13.97		2,490,804		1.62%		-16.80%	to	-17.64%
2021		0.95%	to	1.95%		162,293		19.48	to	16.96		3,090,156		1.80%		10.62%	to	9.51%
2020		0.95%	to	1.95%		181,759		17.61	to	15.49		3,132,371		1.55%		10.68%	to	9.56%
2019		0.95%	to	1.95%		231,934		15.91	to	14.13		3,618,903		3.53%		18.72%	to	17.52%
Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)
2023		0.95%	to	2.20%		962,202		8.45	to	7.47		8,012,080		0.00%		1.91%	to	0.63%
2022		0.95%	to	2.20%		1,114,806		8.29	to	7.43		9,122,857		0.00%		-5.85%	to	-7.04%
2021		0.95%	to	2.20%		1,335,226		8.81	to	7.99		11,630,670		0.00%		-5.90%	to	-7.08%
2020		0.95%	to	2.20%		1,415,389		9.36	to	8.60		13,113,910		8.32%		-6.18%	to	-7.37%
2019		0.95%	to	2.20%		1,822,612		9.98	to	9.28		18,021,033		7.14%		1.04%	to	-0.23%
Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)
2023		0.95%	to	2.20%		1,043,023		22.64	to	18.09		22,826,276		5.16%		7.59%	to	6.24%
2022		0.95%	to	2.20%		1,186,787		21.04	to	17.03		24,197,185		4.88%		-6.37%	to	-7.55%
2021		0.95%	to	2.20%		1,241,272		22.47	to	18.42		27,086,102		4.70%		15.65%	to	14.19%
2020		0.95%	to	2.20%		1,392,650		19.43	to	16.13		26,303,393		5.75%		-0.26%	to	-1.52%
2019		0.95%	to	2.20%		1,729,478		19.48	to	16.38		32,786,655		5.45%		14.96%	to	13.51%
Franklin Templeton Variable Insurance Products Trust - Franklin Small Cap Value VIP Fund: Class 2 (FTVSV2)
2023		0.95%	to	1.85%		255,327		34.56	to	24.46		7,219,686		0.52%		11.18%	to	10.67%
2022		0.95%	to	1.85%		272,293		25.73	to	22.10		6,895,819		0.98%		-10.92%	to	-11.73%
2021		0.95%	to	1.85%		286,845		28.88	to	25.03		8,171,030		1.05%		24.18%	to	23.05%
2020		0.95%	to	1.85%		287,835		23.26	to	20.35		6,632,503		1.51%		4.19%	to	3.24%
2019		0.95%	to	1.85%		326,011		22.33	to	19.71		7,200,042		1.02%		25.15%	to	24.01%
Franklin Templeton Variable Insurance Products Trust - Templeton Foreign VIP Fund: Class 2 (TIF2)
2023		0.95%	to	1.65%		237,169		10.18	to	9.51		2,392,445		3.11%		19.61%	to	18.77%
2022		0.95%	to	1.95%		271,886		8.51	to	7.79		2,304,497		3.05%		-8.48%	to	-9.40%
2021		0.95%	to	1.95%		271,945		9.30	to	8.60		2,526,979		1.91%		3.17%	to	2.13%
2020		0.95%	to	1.95%		309,515		9.01	to	8.42		2,784,590		3.35%		-2.10%	to	-3.09%
2019		0.95%	to	1.95%		371,200		9.21	to	8.69		3,407,816		1.74%		11.46%	to	10.33%
Goldman Sachs Variable Insurance Trust - Goldman Sachs Trend Driven Allocation Fund: Service Shares (GVGMNS)
2023		0.95%	to	1.65%		7,036		14.65	to	13.49		98,249		2.77%		14.48%	to	13.67%
2022		0.95%	to	1.35%		2,390		12.80	to	12.26		29,994		0.00%		-19.93%	to	-20.25%
2021		0.95%	to	1.35%		2,473		15.98	to	15.37		38,868		0.00%		15.07%	to	14.60%
2020		0.95%	to	1.35%		4,141		13.89	to	13.41		56,698		0.15%		3.12%	to	2.71%
2019		0.95%	to	1.35%		9,237		13.47	to	13.06		123,563		1.40%		10.87%	to	10.43%
Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Service Shares (GVMSAS)
2023		0.95%	to	1.35%		5,586		11.02	to	10.77		61,441		6.52%		6.75%	to	6.32%
2022		0.95%	to	1.35%		5,578		10.33	to	10.13		57,463		1.91%		-7.42%	to	-7.80%
2021		0.95%	to	1.35%		9,509		11.15	to	10.99		105,585		4.01%		3.84%	to	3.42%
2020		0.95%	to	1.35%		2,287		10.74	to	10.63		24,503		2.53%		5.71%	to	5.28%
2019		0.95%	to	1.35%		1,561		10.16	to	10.09		15,816		2.32%		7.79%	to	7.35%
Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)
2023		0.95%	to	1.65%		81,745		11.58	to	10.74		931,325		3.04%		3.38%	to	2.65%
2022		0.95%	to	1.65%		134,971		11.21	to	10.46		1,496,866		1.30%		-4.31%	to	-4.99%
2021		0.95%	to	1.65%		60,555		11.71	to	11.01		695,839		0.00%		7.08%	to	6.32%
2020		0.95%	to	1.65%		54,574		10.94	to	10.36		585,988		1.44%		6.37%	to	5.62%
2019		0.95%	to	1.65%		52,499		10.28	to	9.81		534,748		2.40%		4.02%	to	3.28%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Guggenheim Variable Funds Trust - Series D (World Equity Income Series) (SBLD)
2023		1.10%	to	1.15%		17,135		20.48	to	20.30		350,136		2.68%		11.06%	to	10.99%
2022		0.95%	to	1.15%		10,878		18.91	to	18.29		199,912		2.18%		-10.00%	to	-10.17%
2021		1.10%	to	1.15%		9,948		20.52	to	20.36		203,333		1.60%		20.42%	to	20.33%
2020		1.10%	to	1.15%		10,489		17.04	to	16.92		178,051		0.00%		0.05%	to	0.05%
2019		1.10%	to	1.15%		12,569		16.16	to	16.05		202,515		0.00%		0.20%	to	0.20%
Guggenheim Variable Funds Trust - Series J (StylePlus Mid Growth Series) (SBLJ)
2023		0.95%	to	1.15%		4,047		31.47	to	30.37		124,230		1.58%		25.23%	to	24.98%
2022		0.95%	to	1.20%		4,879		25.13	to	24.10		119,777		0.38%		-28.47%	to	-28.66%
2021		0.95%	to	1.20%		3,694		35.13	to	33.78		126,867		0.54%		12.60%	to	12.34%
2020		0.95%	to	1.20%		3,949		31.20	to	30.07		120,576		0.00%		0.31%	to	0.31%
2019		0.95%	to	1.20%		5,884		23.84	to	23.04		137,490		0.00%		0.31%	to	0.31%
Guggenheim Variable Funds Trust - Series N (Managed Asset Allocation Series) (SBLN)
2023		0.95%	to	1.20%		25,969		23.59	to	22.56		596,371		1.19%		13.03%	to	12.74%
2022		0.95%	to	1.20%		27,002		20.87	to	20.01		549,286		0.82%		-17.35%	to	-17.59%
2021		0.95%	to	1.20%		27,786		25.25	to	24.28		684,999		0.68%		11.38%	to	11.12%
2020		0.95%	to	1.20%		29,189		22.67	to	21.85		646,949		0.00%		0.12%	to	0.11%
2019		0.95%	to	1.20%		44,943		20.33	to	19.64		896,283		0.00%		0.19%
Guggenheim Variable Funds Trust - Series O (All Cap Value Series) (SBLO)
2023		0.95%	to	1.15%		9,012		30.96	to	29.88		272,064		1.25%		7.50%	to	7.25%
2022		0.95%	to	1.15%		6,199		28.80	to	27.86		174,676		1.12%		-2.14%	to	-2.28%
2021		0.95%	to	1.15%		9,156		29.43	to	28.51		263,922		2.02%		25.77%	to	25.48%
2020		0.95%	to	1.15%		9,716		23.40	to	22.72		222,610		0.00%		0.01%	to	0.01%
2019		0.95%	to	1.15%		9,091		23.19	to	22.56		206,876		0.00%		0.23%	to	0.22%
Guggenheim Variable Funds Trust - Series P (High Yield Series) (SBLP)
2023		0.95%	to	1.15%		11,438		23.27	to	22.46		259,618		5.92%		10.97%	to	10.75%
2022		0.95%	to	1.15%		13,067		20.97	to	20.28		267,634		6.49%		-10.54%	to	-10.74%
2021		0.95%	to	1.15%		13,208		23.44	to	22.72		302,893		5.11%		4.41%	to	4.22%
2020		0.95%	to	1.15%		12,897		22.45	to	21.80		283,650		0.00%		0.04%	to	0.03%
2019		0.95%	to	1.15%		15,592		21.66	to	21.08		331,414		0.00%		0.11%	to	0.10%
Guggenheim Variable Funds Trust - Series Q (Small Cap Value Series) (SBLQ)
2023		0.95%	to	1.25%		19,150		31.58	to	29.94		586,462		1.23%		9.24%	to	8.91%
2022		0.95%	to	1.25%		20,283		28.91	to	27.49		569,968		0.70%		-4.65%	to	-4.94%
2021		0.95%	to	1.25%		21,015		30.32	to	28.92		620,528		0.80%		24.98%	to	24.60%
2020		0.95%	to	1.25%		21,802		24.26	to	23.21		516,064		0.00%		-0.02%	to	-0.02%
2019		0.95%	to	1.25%		22,530		24.73	to	23.73		544,641		0.00%		0.21%	to	0.21%
Guggenheim Variable Funds Trust - Series V (SMid Cap Value Series) (SBLV)
2023		0.95%	to	1.25%		43,415		33.86	to	32.10		1,427,023		1.47%		8.70%	to	8.37%
2022		0.95%	to	1.25%		48,380		31.15	to	29.62		1,465,740		0.87%		-2.81%	to	-3.11%
2021		0.95%	to	1.25%		50,518		32.05	to	30.57		1,576,564		1.79%		22.61%	to	22.23%
2020		0.95%	to	1.30%		52,127		26.14	to	24.83		1,329,371		0.00%		0.03%	to	0.03%
2019		0.95%	to	1.30%		62,262		25.31	to	24.12		1,539,664		0.00%		0.26%	to	0.25%
Guggenheim Variable Funds Trust - Series X (StylePlus - Small Growth Series) (SBLX)
2023		1.10%	to	1.15%		1,996		27.16	to	26.92		54,143		1.52%		19.70%	to	19.64%
2022		1.10%	to	1.20%		2,321		22.69	to	22.32		52,550		0.33%		-27.44%	to	-27.49%
2021		1.10%	to	1.20%		2,713		31.27	to	30.78		84,667		0.42%		5.39%	to	5.27%
2020		1.10%	to	1.20%		2,942		29.67	to	29.24		87,099		0.00%		0.30%	to	0.30%
2019		1.10%	to	1.20%		3,538		22.76	to	22.45		80,405		0.00%		0.24%	to	0.24%
Guggenheim Variable Funds Trust - Series Y (StylePlus - Large Growth Series) (SBLY)
2023		1.10%	to	1.25%		3,030		42.46	to	41.35		127,107		1.55%		38.35%	to	38.20%
2022		1.10%	to	1.25%		3,913		30.69	to	29.92		119,007		0.42%		-31.43%	to	-31.56%
2021		1.10%	to	1.25%		4,070		44.76	to	43.72		180,760		0.50%		26.37%	to	26.18%
2020		1.10%	to	1.25%		3,022		35.42	to	34.65		106,022		0.00%		0.36%	to	0.36%
2019		1.10%	to	1.25%		2,667		25.98	to	25.45		68,631		0.00%		0.32%	to	0.32%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Invesco - Invesco V.I. Comstock Fund: Series II Shares (ACC2)
2023		1.50%	to	2.60%		68,602		36.66	to	28.74		2,370,321		1.52%		10.42%	to	9.19%
2022		1.50%	to	2.60%		80,326		33.20	to	26.32		2,507,897		1.34%		-0.66%	to	-1.77%
2021		1.50%	to	2.60%		84,869		33.42	to	26.80		2,667,850		1.54%		31.05%	to	29.59%
2020		1.50%	to	2.60%		106,659		25.50	to	20.68		2,561,024		2.17%		-2.57%	to	-3.66%
2019		1.50%	to	2.60%		114,984		26.17	to	21.46		2,839,418		1.65%		23.07%	to	21.69%
Invesco - Invesco V.I. American Franchise Fund: Series I Shares (ACEG)
2023		0.95%	to	1.25%		492		36.95	to	35.67		17,842		0.00%		39.59%	to	39.17%
2022		0.95%	to	1.25%		501		26.47	to	25.63		13,024		0.00%		-31.77%	to	-31.97%
2021		0.95%	to	1.25%		511		38.80	to	37.67		19,490		0.00%		10.86%	to	10.53%
2020		0.95%	to	1.25%		1,978		34.99	to	34.08		67,645		0.07%		41.00%	to	40.58%
2019		0.95%	to	1.25%		1,988		24.82	to	24.25		48,344		0.00%		35.46%	to	35.05%
Invesco - Invesco V.I. American Franchise Fund: Series II Shares (ACEG2)
2020		0.95%	to	2.35%		88,763		34.24	to	33.64		3,184,699		0.00%		40.65%	to	38.66%
2019		0.95%	to	2.60%		109,377		24.34	to	23.18		2,786,714		0.00%		35.13%	to	32.88%
Invesco - Invesco V.I. Core Equity Fund: Series II Shares (AVCE2)
2023		1.50%	to	2.50%		13,679		26.46	to	22.10		332,588		0.45%		21.25%	to	20.02%
2022		1.50%	to	2.50%		16,435		21.83	to	18.41		330,367		0.59%		-21.94%	to	-22.73%
2021		1.50%	to	2.50%		19,619		27.96	to	23.83		506,588		0.45%		25.47%	to	24.20%
2020		1.50%	to	2.50%		19,781		22.29	to	19.19		409,070		1.13%		11.87%	to	10.73%
2019		1.50%	to	2.50%		22,499		19.92	to	17.33		419,301		0.17%		26.74%	to	25.45%
Invesco - Invesco V.I. Core Equity Fund: Series I Shares (AVGI)
2023		1.55%				79		32.81				2,590		0.75%		21.46%
2022		1.55%				79		27.01				2,134		0.93%		-21.78%
2021		1.55%				79		34.53				2,728		0.67%		25.76%
2020		1.55%				79		27.46				2,169		1.37%		12.09%
2019		1.55%				79		24.50				1,935		0.63%		26.97%
Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)
2023		0.95%	to	1.20%		13,234		33.35	to	31.91		428,553		0.00%		2.05%	to	1.82%
2022		0.95%	to	1.20%		13,032		32.68	to	31.34		414,197		0.00%		-14.16%	to	-14.37%
2021		0.95%	to	1.20%		12,565		38.07	to	36.60		465,827		0.20%		11.25%	to	10.94%
2020		0.95%	to	1.20%		13,904		34.22	to	32.99		463,950		0.00%		0.13%	to	0.13%
2019		0.95%	to	1.20%		13,508		30.19	to	29.17		398,369		0.00%		0.31%	to	0.31%
Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)
2023		0.95%	to	1.55%		15,536		22.75	to	21.06		340,376		2.05%		9.51%	to	8.85%
2022		0.95%	to	1.55%		17,739		20.77	to	19.35		357,297		1.64%		-8.39%	to	-8.94%
2021		0.95%	to	1.55%		20,023		22.68	to	21.25		442,616		1.86%		17.52%	to	16.81%
2020		0.95%	to	1.55%		21,489		19.29	to	18.19		405,036		2.43%		8.91%	to	8.25%
2019		0.95%	to	1.70%		24,204		17.72	to	16.59		418,351		2.57%		19.22%	to	18.32%
Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)
2023		0.95%	to	1.75%		6,632		21.58	to	19.63		140,662		0.04%		13.06%	to	12.15%
2022		0.95%	to	1.75%		6,740		19.09	to	17.50		126,259		0.07%		-15.26%	to	-15.95%
2021		0.95%	to	1.75%		9,109		22.52	to	20.83		201,672		0.26%		21.70%	to	20.72%
2020		0.95%	to	1.75%		8,850		18.51	to	17.25		160,806		0.45%		7.91%	to	7.03%
2019		0.95%	to	1.75%		8,723		17.15	to	16.12		147,492		0.21%		23.85%	to	22.85%
Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)
2023		0.95%	to	1.20%		10,624		14.75	to	14.11		152,086		1.41%		7.98%	to	7.71%
2022		0.95%	to	1.20%		10,428		13.66	to	13.10		138,419		2.76%		-25.64%	to	-25.82%
2021		0.95%	to	1.20%		12,502		18.37	to	17.66		223,693		2.93%		24.54%	to	24.19%
2020		0.95%	to	1.20%		11,092		14.75	to	14.22		159,629		0.00%		-0.13%	to	-0.13%
2019		0.95%	to	1.20%		11,638		16.99	to	16.42		193,161		0.00%		0.22%	to	0.22%
Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series I (OVAG)
2023		0.95%	to	2.20%		1,054,556		43.87	to	26.85		49,380,852		0.00%		12.08%	to	10.67%
2022		0.95%	to	2.20%		1,150,080		39.14	to	24.26		48,084,888		0.00%		-31.64%	to	-32.50%
2021		0.95%	to	2.20%		1,232,238		57.26	to	35.94		75,404,576		0.00%		17.96%	to	16.48%
2020		0.95%	to	2.25%		1,397,273		48.54	to	16.73		72,599,904		0.04%		39.35%	to	37.52%
2019		0.95%	to	2.25%		1,535,748		34.83	to	12.17		57,280,606		0.00%		38.04%	to	36.23%
Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series II (OVAG2)
2023		0.95%	to	2.20%		85,776		13.19	to	12.59		1,117,817		0.00%		11.78%	to	10.38%
2022		0.95%	to	2.20%		98,385		11.80	to	11.40		1,151,485		0.00%		-31.78%	to	-32.65%
2021		0.95%	to	2.20%		123,455		17.29	to	16.93		2,125,073		0.00%		17.66%	to	16.18%
2020		0.95%	to	2.20%		111,981		14.70	to	14.57		1,642,705		0.00%		46.97%	to	45.73%	****

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Invesco - Invesco V.I. Main Street Fund: Series I (OVGI)
2023		1.10%				-		49.07				24		0.86%		21.85%
2020		0.95%	to	2.20%		2,111,151		36.02	to	23.12		78,530,294		1.47%		12.86%	to	11.44%
2019		0.95%	to	2.20%		2,407,684		31.91	to	20.74		79,468,520		1.10%		30.83%	to	29.18%
Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)
2020		1.50%	to	2.60%		42,077		30.22	to	24.51		1,204,937		1.19%		11.99%	to	10.74%
2019		1.50%	to	2.60%		50,425		26.99	to	22.13		1,298,910		0.84%		29.76%	to	28.31%
Invesco - Invesco V.I. Capital Appreciation Fund: Series I (OVGR)
2023		0.95%	to	1.35%		60,727		58.65	to	58.13		3,720,075		0.00%		34.09%	to	33.54%
2022		0.95%	to	1.35%		68,783		43.74	to	43.53		3,149,318		0.00%		-31.44%	to	-31.71%
2021		0.95%	to	1.35%		71,928		63.80	to	63.74		4,808,639		0.00%		21.41%	to	20.90%
2020		0.95%	to	1.35%		80,153		52.55	to	52.72		4,417,856		0.00%		35.29%	to	0.35%
2019		0.95%	to	1.35%		86,084		38.84	to	39.12		3,515,137		2.35%		34.90%	to	0.34%
Invesco - Invesco V.I. Global Fund: Series I (OVGS)
2023		0.95%	to	2.60%		2,029,025		39.57	to	26.59		76,809,670		0.22%		33.46%	to	31.24%
2022		0.95%	to	2.60%		2,277,310		29.65	to	20.26		64,673,798		0.00%		-32.41%	to	-33.54%
2021		0.95%	to	2.60%		2,478,033		43.87	to	30.49		104,338,325		0.00%		14.39%	to	12.49%
2020		0.95%	to	2.60%		2,834,665		38.35	to	27.10		104,516,116		0.69%		26.43%	to	24.32%
2019		0.95%	to	2.60%		3,327,486		30.34	to	21.80		97,140,212		0.92%		30.54%	to	28.36%
Invesco - Invesco V.I. Global Fund: Series II (OVGSS)
2023		1.50%	to	2.35%		15,937		40.18	to	33.30		600,154		0.00%		32.44%	to	31.30%
2022		1.50%	to	2.35%		19,431		30.34	to	25.36		548,473		0.00%		-32.96%	to	-33.54%
2021		1.50%	to	2.35%		20,844		45.25	to	38.16		878,057		0.00%		13.44%	to	12.46%
2020		1.50%	to	2.35%		24,776		39.89	to	33.93		915,939		0.45%		25.43%	to	24.35%
2019		1.50%	to	2.35%		27,113		31.80	to	27.29		803,937		0.64%		29.48%	to	28.37%
Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)
2023		0.95%	to	2.25%		79,967		12.71	to	11.18		1,007,149		0.29%		19.49%	to	17.93%
2022		0.95%	to	1.65%		78,982		10.63	to	10.00		832,164		0.00%		-27.86%	to	-28.37%
2021		0.95%	to	1.65%		88,966		14.74	to	13.96		1,299,013		0.00%		9.07%	to	8.30%
2020		0.95%	to	1.65%		125,849		13.51	to	12.89		1,689,449		0.60%		19.89%	to	19.05%
2019		0.95%	to	1.65%		160,495		11.27	to	10.83		1,799,969		0.72%		26.74%	to	25.84%
Invesco - Invesco V.I. Global Strategic Income Fund: Series I (OVSB)
2023		0.95%	to	2.20%		173,431		10.61	to	9.20		1,795,207		0.00%		7.85%	to	6.49%
2022		0.95%	to	2.20%		189,871		9.83	to	8.64		1,831,185		0.00%		-12.30%	to	-13.41%
2021		0.95%	to	2.20%		218,574		11.21	to	9.98		2,404,551		4.38%		-4.33%	to	-5.54%
2020		0.95%	to	2.20%		251,724		11.72	to	10.56		2,903,968		5.63%		2.42%	to	1.13%
2019		0.95%	to	2.20%		288,731		11.44	to	10.45		3,259,184		3.74%		9.75%	to	8.37%
Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)
2023		1.50%	to	2.60%		29,047		17.08	to	13.39		455,124		0.00%		6.98%	to	5.78%
2022		1.50%	to	2.60%		34,053		15.97	to	12.66		502,728		0.00%		-13.04%	to	-14.01%
2021		1.50%	to	2.60%		38,663		18.36	to	14.72		660,332		3.81%		-5.01%	to	-6.07%
2020		1.50%	to	2.60%		47,899		19.33	to	15.67		863,121		5.18%		1.45%	to	0.31%
2019		1.50%	to	2.60%		55,703		19.05	to	15.62		990,289		3.47%		8.95%	to	7.73%
Invesco - Invesco V.I. Main Street Small Cap Fund: Series I (OVSC)
2023		0.95%	to	1.95%		205,659		33.95	to	28.37		6,801,306		1.15%		17.01%	to	15.83%
2022		0.95%	to	1.95%		213,847		29.01	to	24.50		6,049,621		0.52%		-16.63%	to	-17.47%
2021		0.95%	to	1.95%		230,510		34.80	to	29.68		7,833,696		0.37%		21.39%	to	20.16%
2020		0.95%	to	2.20%		252,567		28.67	to	23.79		7,084,627		0.62%		18.79%	to	17.29%
2019		0.95%	to	2.20%		289,998		24.13	to	20.29		6,836,932		0.20%		25.27%	to	23.69%
Ivy Variable Insurance Portfolios - Delaware Ivy Asset Strategy: Class II (WRASP)
2023		0.95%	to	2.25%		1,131,058		41.38	to	29.93		45,137,738		2.08%		12.86%	to	11.38%
2022		0.95%	to	2.25%		1,243,542		36.67	to	26.87		43,999,189		1.53%		-15.55%	to	-16.66%
2021		0.95%	to	2.25%		1,366,338		43.42	to	32.24		57,299,516		1.54%		9.39%	to	7.96%
2020		0.95%	to	2.25%		1,548,990		39.69	to	29.86		59,474,461		1.99%		12.80%	to	11.32%
2019		0.95%	to	2.25%		1,781,240		35.19	to	26.83		60,694,078		2.03%		20.62%	to	19.04%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Ivy Variable Insurance Portfolios - Delaware Ivy Corporate Bond: Class II (WRBDP)
2023		0.95%	to	2.25%		1,355,331		18.25	to	13.05		23,875,801		2.77%		6.16%	to	4.77%
2022		0.95%	to	2.25%		1,461,295		17.19	to	12.46		24,261,485		2.48%		-16.59%	to	-17.68%
2021		0.95%	to	2.25%		1,617,707		20.61	to	15.14		32,258,294		1.99%		-1.79%	to	-3.08%
2020		0.95%	to	2.25%		1,709,494		20.98	to	15.62		34,707,740		2.51%		9.91%	to	8.47%
2019		0.95%	to	2.25%		1,949,692		19.09	to	14.40		36,090,119		2.76%		11.11%	to	9.65%
Ivy Variable Insurance Portfolios - Delaware Ivy Balanced: Class II (WRBP)
2020		0.95%	to	2.25%		1,145,806		30.84	to	23.30		34,215,647		1.43%		13.03%	to	11.55%
2019		0.95%	to	2.25%		1,342,507		27.29	to	20.89		35,530,055		1.77%		20.93%	to	19.35%
Ivy Variable Insurance Portfolios - Delaware Ivy Core Equity: Class II (WRCEP)
2023		0.95%	to	2.25%		1,622,321		43.99	to	32.57		69,169,203		0.38%		22.35%	to	20.75%
2022		0.95%	to	2.25%		1,847,851		35.95	to	26.97		64,405,470		0.23%		-18.11%	to	-19.18%
2021		0.95%	to	2.25%		2,109,236		43.90	to	33.37		89,887,570		0.54%		27.72%	to	26.04%
2020		0.95%	to	2.25%		2,394,864		34.38	to	26.48		79,912,404		0.54%		20.36%	to	18.78%
2019		0.95%	to	2.25%		2,816,402		28.56	to	22.29		78,202,741		0.58%		29.85%	to	28.14%
Ivy Variable Insurance Portfolios - Delaware VIP Global Equity: Class II (WRDIV)
2023		0.95%	to	2.25%		237,342		30.20	to	23.29		6,963,193		1.74%		13.02%	to	11.54%
2022		0.95%	to	2.25%		262,463		26.72	to	20.89		6,820,178		3.88%		-12.14%	to	-13.30%
2021		0.95%	to	2.25%		295,122		30.42	to	24.09		8,748,498		2.17%		15.86%	to	14.34%
2020		0.95%	to	2.25%		326,934		26.25	to	21.07		8,356,128		2.63%		2.17%	to	0.83%
2019		0.95%	to	2.25%		367,374		25.70	to	20.89		9,207,943		2.86%		21.98%	to	20.38%
Ivy Variable Insurance Portfolios - Delaware Ivy Energy: Class II (WRENG)
2023		0.95%	to	1.80%		163,314		10.13	to	8.70		1,610,647		3.16%		3.03%	to	2.15%
2022		0.95%	to	1.80%		185,316		9.84	to	8.52		1,777,416		2.95%		49.05%	to	47.77%
2021		0.95%	to	1.80%		206,560		6.60	to	5.76		1,331,772		1.43%		40.65%	to	39.44%
2020		0.95%	to	1.80%		234,570		4.69	to	4.13		1,076,928		1.89%		-37.43%	to	-37.97%
2019		0.95%	to	1.80%		241,242		7.50	to	6.67		1,771,405		0.00%		2.49%	to	1.62%
Ivy Variable Insurance Portfolios - Delaware Ivy Natural Resources: Class II (WRGNR)
2023		0.95%	to	2.25%		209,326		12.15	to	9.50		2,464,225		2.60%		0.62%	to	-0.69%
2022		0.95%	to	2.25%		229,128		12.07	to	9.57		2,683,095		1.66%		16.66%	to	15.13%
2021		0.95%	to	2.25%		271,512		10.35	to	8.31		2,730,313		1.64%		25.48%	to	23.83%
2020		0.95%	to	2.25%		302,646		8.25	to	6.71		2,428,743		2.36%		-12.83%	to	-13.97%
2019		0.95%	to	2.25%		350,391		9.46	to	7.80		3,231,966		0.97%		8.42%	to	6.99%
Ivy Variable Insurance Portfolios - Delaware Ivy Growth: Class II (WRGP)
2023		0.95%	to	2.25%		1,890,095		54.80	to	41.47		100,224,696		0.00%		36.62%	to	34.83%
2022		0.95%	to	2.25%		2,130,588		40.11	to	30.76		82,720,532		0.00%		-27.88%	to	-28.83%
2021		0.95%	to	2.25%		2,452,487		55.62	to	43.21		132,179,684		0.00%		28.79%	to	27.10%
2020		0.95%	to	2.25%		2,769,933		43.18	to	34.00		115,912,276		0.00%		29.31%	to	27.61%
2019		0.95%	to	2.25%		3,212,033		33.40	to	26.64		104,092,542		0.00%		35.29%	to	33.51%
Ivy Variable Insurance Portfolios - Delaware Ivy High Income: Class II (WRHIP)
2023		0.95%	to	2.25%		862,998		34.88	to	25.53		29,140,730		6.30%		10.69%	to	9.24%
2022		0.95%	to	2.25%		951,370		31.52	to	23.37		29,052,990		6.60%		-11.81%	to	-12.96%
2021		0.95%	to	2.25%		1,068,120		35.74	to	26.85		37,034,951		5.85%		5.05%	to	3.68%
2020		0.95%	to	2.25%		1,195,685		34.02	to	25.90		39,437,174		7.23%		5.02%	to	3.64%
2019		0.95%	to	2.25%		1,424,091		32.39	to	24.99		44,830,899		6.55%		10.14%	to	8.69%
Ivy Variable Insurance Portfolios - Delaware Ivy International Core Equity: Class II (WRI2P)
2023		0.95%	to	1.80%		300,301		25.68	to	21.68		7,558,940		1.61%		14.53%	to	13.55%
2022		0.95%	to	1.80%		328,758		22.42	to	19.09		7,227,472		2.30%		-15.11%	to	-15.84%
2021		0.95%	to	1.85%		348,851		26.42	to	22.48		9,045,227		1.04%		13.09%	to	12.07%
2020		0.95%	to	1.85%		358,216		23.36	to	20.06		8,213,612		2.45%		6.17%	to	5.20%
2019		0.95%	to	1.85%		425,818		22.00	to	19.07		9,194,920		1.57%		17.57%	to	16.50%
Ivy Variable Insurance Portfolios - Delaware Ivy Global Growth: Class II (WRIP)
2023		0.95%	to	2.25%		570,808		29.01	to	21.17		15,985,592		0.08%		18.85%	to	17.30%
2022		0.95%	to	2.25%		636,694		24.41	to	18.05		15,012,719		0.78%		-18.34%	to	-19.41%
2021		0.95%	to	2.25%		709,129		29.90	to	22.40		20,479,962		0.06%		16.74%	to	15.21%
2020		0.95%	to	2.25%		783,488		25.61	to	19.44		19,396,549		0.42%		19.43%	to	17.87%
2019		0.95%	to	2.25%		915,747		21.44	to	16.49		19,008,928		0.65%		24.73%	to	23.10%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Ivy Variable Insurance Portfolios - Delaware Ivy Limited-Term Bond: Class II (WRLTBP)
2023		0.95%	to	1.85%		403,969		10.70	to	9.53		4,248,669		1.72%		3.85%	to	2.90%
2022		0.95%	to	1.85%		429,266		10.31	to	9.26		4,349,135		1.32%		-5.21%	to	-6.07%
2021		0.95%	to	1.85%		402,902		10.87	to	9.86		4,305,195		1.52%		-1.43%	to	-2.33%
2020		0.95%	to	1.95%		382,060		11.03	to	10.00		4,151,579		2.41%		3.15%	to	2.11%
2019		0.95%	to	1.95%		319,088		10.69	to	9.79		3,355,395		1.64%		3.24%	to	2.20%
Ivy Variable Insurance Portfolios - Delaware Ivy Mid Cap Growth: Class II (WRMCG)
2023		0.95%	to	2.25%		295,069		57.18	to	44.74		16,473,408		0.00%		18.48%	to	16.93%
2022		0.95%	to	2.25%		326,607		48.26	to	38.26		15,408,129		0.00%		-31.45%	to	-32.35%
2021		0.95%	to	2.25%		343,769		70.40	to	56.55		23,676,512		0.00%		15.25%	to	13.74%
2020		0.95%	to	2.25%		385,006		61.09	to	49.72		23,035,359		0.00%		47.59%	to	45.65%
2019		0.95%	to	2.25%		426,547		41.39	to	34.14		17,295,230		0.00%		36.63%	to	34.84%
Ivy Variable Insurance Portfolios - Delaware VIP Real Estate Securities: Class II (WRRESP)
2023		0.95%	to	2.25%		123,965		32.03	to	24.78		3,871,365		2.04%		8.46%	to	7.04%
2022		0.95%	to	2.25%		139,542		29.53	to	23.15		4,005,679		0.87%		-25.63%	to	-26.60%
2021		0.95%	to	2.25%		151,566		39.71	to	31.55		5,862,091		0.90%		42.32%	to	40.46%
2020		0.95%	to	2.25%		163,380		27.90	to	22.46		4,443,960		1.74%		-4.05%	to	-5.31%
2019		0.95%	to	2.25%		179,987		29.08	to	23.72		5,111,620		1.58%		23.25%	to	21.63%
Ivy Variable Insurance Portfolios - Delaware Ivy Small Cap Growth: Class II (WRSCP)
2023		0.95%	to	2.25%		837,978		33.93	to	25.98		27,501,522		0.00%		11.96%	to	10.50%
2022		0.95%	to	2.25%		931,233		30.30	to	23.51		27,319,252		0.00%		-27.46%	to	-28.41%
2021		0.95%	to	2.25%		1,005,670		41.78	to	32.84		40,737,501		0.94%		3.00%	to	1.65%
2020		0.95%	to	2.25%		1,114,901		40.56	to	32.31		43,846,293		0.00%		36.36%	to	34.57%
2019		0.95%	to	2.25%		1,276,491		29.74	to	24.01		36,873,885		0.00%		22.20%	to	20.59%
Ivy Variable Insurance Portfolios - Delaware Ivy Smid Cap Core: Class II (WRSCV)
2023		0.95%	to	1.80%		126,467		38.36	to	32.38		4,730,897		0.21%		14.57%	to	13.59%
2022		0.95%	to	1.80%		136,519		33.48	to	28.51		4,450,132		0.00%		-15.62%	to	-16.34%
2021		0.95%	to	1.85%		145,188		39.68	to	33.77		5,617,988		0.00%		19.63%	to	18.55%
2020		0.95%	to	1.85%		146,831		33.16	to	28.48		4,750,109		0.00%		6.01%	to	5.04%
2019		0.95%	to	1.85%		167,783		31.28	to	27.12		5,123,788		0.00%		23.15%	to	22.03%
Ivy Variable Insurance Portfolios - Delaware Ivy Science and Technology: Class II (WRSTP)
2023		0.95%	to	2.25%		834,334		70.54	to	56.58		56,812,435		0.00%		37.75%	to	35.95%
2022		0.95%	to	2.25%		937,241		51.21	to	41.62		46,352,157		0.00%		-32.49%	to	-33.37%
2021		0.95%	to	2.25%		998,929		75.85	to	62.46		73,319,209		0.00%		14.07%	to	12.58%
2020		0.95%	to	2.25%		1,112,608		66.49	to	55.49		71,613,260		0.00%		34.08%	to	32.32%
2019		0.95%	to	2.25%		1,292,636		49.59	to	41.93		62,188,748		0.00%		48.06%	to	46.12%
Ivy Variable Insurance Portfolios - Delaware Ivy Value: Class II (WRVP)
2020		0.95%	to	2.25%		862,179		31.14	to	24.01		25,918,384		2.01%		1.02%	to	-0.31%
2019		0.95%	to	2.25%		981,071		30.83	to	24.09		29,247,828		0.82%		25.13%	to	23.49%
Janus Aspen Series - Janus Henderson Balanced Portfolio: Service Shares (JABS)
2023		0.95%	to	1.70%		216,212		10.34	to	10.13		2,241,631		2.34%		14.04%	to	13.18%
2022		0.95%	to	1.70%		104,282		9.07	to	8.95		965,610		1.12%		-17.41%	to	-18.03%
2021		0.95%	to	1.70%		47,252		10.98	to	10.92		518,345		1.00%		9.77%	to	9.21%
Janus Aspen Series - Janus Henderson Forty Portfolio: Service Shares (JACAS)
2023		0.95%	to	2.00%		1,995,759		47.32	to	36.67		90,903,435		0.12%		38.33%	to	36.87%
2022		0.95%	to	2.00%		2,191,307		34.21	to	26.79		72,255,941		0.05%		-34.36%	to	-35.05%
2021		0.95%	to	2.00%		2,482,609		52.12	to	41.26		124,893,446		0.00%		21.44%	to	20.15%
2020		0.95%	to	2.05%		2,783,998		42.92	to	33.97		115,430,053		0.17%		37.71%	to	36.19%
2019		0.95%	to	2.20%		3,185,452		31.16	to	24.20		96,036,487		0.02%		35.55%	to	33.84%
Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)
2023		0.95%	to	1.75%		235,472		10.24	to	9.54		2,384,151		3.86%		4.30%	to	3.46%
2022		0.95%	to	1.75%		177,158		9.82	to	9.22		1,717,520		1.90%		-14.72%	to	-15.41%
2021		0.95%	to	1.75%		220,257		11.51	to	10.90		2,509,309		1.55%		-2.05%	to	-2.84%
2020		0.95%	to	1.75%		267,472		11.75	to	11.22		3,115,869		2.50%		9.20%	to	8.32%
2019		0.95%	to	1.75%		210,802		10.76	to	10.36		2,251,469		2.74%		8.24%	to	7.37%
Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)
2023		0.95%	to	1.10%		2,875		11.13	to	11.12		31,966		0.52%		11.28%	to	11.17%	****

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Janus Aspen Series - Janus Henderson Global Technology and Innovation Portfolio: Service Shares (JAGTS)
2023		0.95%	to	2.20%		1,623,256		32.01	to	23.62		50,060,707		0.00%		52.82%	to	50.90%
2022		0.95%	to	2.20%		1,621,044		20.94	to	15.65		32,740,357		0.00%		-37.72%	to	-38.51%
2021		0.95%	to	2.20%		1,874,552		33.63	to	25.45		60,919,569		0.12%		16.63%	to	15.16%
2020		0.95%	to	2.20%		2,261,480		28.84	to	22.10		63,124,636		0.00%		49.30%	to	47.42%
2019		0.95%	to	2.20%		2,497,847		19.31	to	14.99		46,746,845		0.42%		43.44%	to	41.63%
Janus Aspen Series - Janus Henderson Overseas Portfolio: Service Shares (JAIGS)
2023		0.95%	to	2.05%		1,732,328		19.31	to	14.78		32,177,226		1.41%		9.54%	to	8.32%
2022		0.95%	to	2.05%		1,902,947		17.63	to	13.65		32,318,659		1.67%		-9.70%	to	-10.70%
2021		0.95%	to	2.05%		2,094,936		19.52	to	15.28		39,453,540		1.01%		12.18%	to	10.97%
2020		0.95%	to	2.05%		2,346,663		17.40	to	13.77		39,465,440		1.20%		14.92%	to	13.64%
2019		0.95%	to	2.20%		2,705,146		15.14	to	11.75		39,638,521		1.91%		25.50%	to	23.92%
Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)
2023		0.95%	to	1.35%		110,635		11.16	to	10.73		1,222,140		4.69%		21.11%	to	20.63%
2022		0.95%	to	1.35%		122,236		9.21	to	8.90		1,116,335		3.13%		-15.92%	to	-16.26%
2021		0.95%	to	1.40%		154,042		10.96	to	10.58		1,675,337		1.86%		4.46%	to	3.99%
2020		0.95%	to	1.40%		177,813		10.49	to	10.18		1,854,528		2.56%		-2.21%	to	-2.66%
2019		0.95%	to	1.40%		245,766		10.73	to	10.46		2,624,464		0.90%		17.02%	to	16.49%
Lincoln Variable Insurance Products Trust - LVIP JPMorgan Mid Cap Value Fund: Standard Class (LJPMVS)
2023		0.95%	to	1.80%		1,018,233		11.06	to	10.99		11,247,904		1.86%		10.59%	to	9.95%	****
Lord Abbett Series Fund, Inc. - Total Return Portfolio: Class VC (LOVTRC)
2023		0.95%	to	1.40%		93,703		10.21	to	9.86		939,870		4.64%		5.33%	to	4.85%
2022		0.95%	to	1.40%		83,960		9.69	to	9.40		803,610		2.96%		-14.86%	to	-15.25%
2021		0.95%	to	1.40%		112,961		11.38	to	11.09		1,274,851		2.06%		-1.19%	to	-1.64%
2020		0.95%	to	1.40%		104,327		11.52	to	11.28		1,194,029		2.56%		6.41%	to	5.92%
2019		0.95%	to	1.40%		96,036		10.83	to	10.65		1,034,713		3.51%		7.38%	to	6.89%
MFS(R)Variable Insurance Trust - MFS Mid Cap Growth Series: Service Class (MMCGSC)
2023		1.50%	to	2.20%		13,598		34.50	to	29.56		436,188		0.00%		19.16%	to	18.32%
2022		1.50%	to	2.60%		14,503		28.95	to	22.95		391,239		0.00%		-29.86%	to	-30.64%
2021		1.50%	to	2.60%		16,560		41.27	to	33.09		640,555		0.00%		12.17%	to	10.92%
2020		1.50%	to	2.60%		20,077		36.80	to	29.84		699,437		0.00%		34.08%	to	32.58%
2019		1.50%	to	2.60%		25,014		27.44	to	22.50		650,243		0.00%		36.20%	to	34.68%
MFS(R)Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)
2023		0.95%	to	2.45%		85,379		26.63	to	31.68		2,313,728		0.00%		13.17%	to	11.46%
2022		0.95%	to	2.45%		89,513		23.53	to	28.42		2,151,348		0.00%		-30.66%	to	-31.71%
2021		0.95%	to	2.45%		101,904		33.94	to	41.62		3,528,796		0.00%		0.61%	to	-0.92%
2020		0.95%	to	2.45%		123,141		33.74	to	42.01		4,278,932		0.00%		44.20%	to	42.02%
2019		0.95%	to	2.45%		128,486		23.39	to	29.58		3,122,430		0.00%		39.93%	to	37.81%
MFS(R) Variable Insurance Trust II - MFS Research International Portfolio: Service Class (MV2RIS)
2023		0.95%	to	1.35%		17,620		13.39	to	13.19		234,772		0.79%		11.76%	to	11.31%
2022		0.95%	to	1.35%		30,479		11.98	to	11.85		364,537		1.67%		-18.58%	to	-18.91%
2021		0.95%	to	1.35%		31,165		14.72	to	14.62		458,162		0.64%		10.21%	to	9.77%
2020		0.95%	to	1.20%		7,687		13.35	to	13.33		102,550		0.16%		33.54%	to	33.31%	****
MFS(R) Variable Insurance Trust III - MFS Mid Cap Value Portfolio: Service Class (MV3MVS)
2023		0.95%	to	1.35%		20,230		17.74	to	17.48		357,521		1.56%		11.32%	to	10.87%
2022		0.95%	to	1.35%		20,922		15.94	to	15.76		332,683		0.81%		-9.87%	to	-10.23%
2021		0.95%	to	1.35%		20,685		17.68	to	17.56		365,192		0.75%		29.36%	to	28.84%
2020		0.95%	to	1.35%		4,459		13.67	to	13.63		60,890		0.29%		36.67%	to	36.30%	****
MFS(R)Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)
2023		0.95%	to	2.60%		705,991		32.10	to	29.69		22,509,826		1.38%		6.61%	to	4.84%
2022		0.95%	to	2.60%		807,511		30.11	to	28.32		24,169,880		1.15%		-7.03%	to	-8.58%
2021		0.95%	to	2.60%		902,471		32.38	to	30.98		29,096,148		1.14%		23.97%	to	21.91%
2020		0.95%	to	2.60%		1,020,188		26.12	to	25.41		26,576,870		1.31%		2.24%	to	0.54%
2019		0.95%	to	2.60%		1,240,655		25.55	to	25.28		31,626,952		1.88%		28.28%	to	26.14%
MFS(R)Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)
2023		0.95%	to	1.35%		36,721		12.80	to	12.56		468,410		0.92%		13.31%	to	12.85%
2022		0.95%	to	1.35%		25,646		11.29	to	11.13		289,150		0.38%		-15.99%	to	-16.33%
2021		0.95%	to	1.20%		25,675		13.44	to	13.35		344,562		0.41%		7.96%	to	7.68%
2020		0.95%	to	1.20%		22,900		12.45	to	12.40		284,835		1.90%		14.40%	to	14.11%
2019		0.95%	to	1.20%		7,603		10.88	to	10.87		82,685		0.96%		8.84%	to	8.65%	****

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
MFS(R)Variable Insurance Trust II - MFS International Intrinsic Value Portfolio: Service Class (MVIVSC)
2023		0.95%	to	2.60%		520,246		26.36	to	20.95		13,392,561		0.47%		16.26%	to	14.33%
2022		0.95%	to	2.60%		592,899		22.67	to	18.33		13,157,719		0.50%		-24.48%	to	-25.73%
2021		0.95%	to	2.60%		669,015		30.02	to	24.68		19,646,876		0.14%		9.23%	to	7.41%
2020		0.95%	to	2.60%		745,293		27.48	to	22.98		20,066,787		0.78%		19.06%	to	17.08%
2019		0.95%	to	2.60%		914,708		23.08	to	19.62		20,716,699		1.45%		24.46%	to	22.39%
Morgan Stanley Variable Insurance Fund, Inc. - Emerging Markets Debt Portfolio: Class I (MSEM)
2023		0.95%	to	2.15%		56,015		32.51	to	28.61		2,154,526		8.51%		10.80%	to	9.44%
2022		0.95%	to	2.15%		61,839		29.34	to	26.15		2,146,680		7.56%		-19.51%	to	-20.48%
2021		0.95%	to	2.15%		70,779		36.45	to	32.88		3,036,402		5.09%		-2.96%	to	-4.13%
2020		0.95%	to	2.15%		76,902		37.56	to	34.30		3,395,130		4.51%		4.54%	to	3.28%
2019		0.95%	to	2.15%		88,044		35.93	to	33.21		3,702,251		5.91%		13.17%	to	11.80%
Morgan Stanley Variable Insurance Fund, Inc. - Global Infrastructure Portfolio: Class II (MSGI2)
2023		0.95%	to	1.85%		109,759		12.51	to	11.55		1,356,398		2.35%		3.28%	to	2.35%
2022		0.95%	to	1.85%		134,161		12.11	to	11.29		1,608,066		2.76%		-9.19%	to	-10.01%
2021		0.95%	to	1.85%		126,847		13.33	to	12.55		1,673,579		2.23%		12.92%	to	11.90%
2020		0.95%	to	1.85%		110,592		11.81	to	11.21		1,292,595		1.37%		-2.37%	to	-3.26%
2019		0.95%	to	1.85%		114,229		12.09	to	11.59		1,369,670		2.40%		26.65%	to	25.50%
Morgan Stanley Variable Insurance Fund, Inc. - Growth Portfolio: Class II (MSVEG2)
2023		0.95%	to	1.40%		200,644		5.67	to	5.60		1,134,883		0.00%		46.91%	to	46.25%
2022		0.95%	to	1.20%		114,858		3.86	to	3.85		443,048		0.00%		-60.54%	to	-60.64%
2021		0.95%	to	1.25%		126,640		9.79	to	9.77		1,238,525		0.00%		-2.13%	to	-2.33%	****
Morgan Stanley Variable Insurance Fund, Inc. - Discovery Portfolio: Class I (MSVMG)
2022		1.75%				1,159		18.57				21,519		0.00%		-63.61%
2021		1.75%				3,138		51.03				160,119		0.00%		-12.62%
2020		1.75%				3,168		58.39				184,993		0.00%		147.90%
2019		1.60%	to	1.75%		3,294		24.27	to	23.56		77,655		0.00%		37.87%	to	37.66%
Morgan Stanley Variable Insurance Fund, Inc. - U.S. Real Estate Portfolio: Class I (MSVRE)
2023		1.60%	to	1.75%		9,175		47.52	to	41.75		418,428		2.24%		12.69%	to	12.52%
2022		1.60%	to	1.75%		9,194		42.17	to	37.10		373,117		1.17%		-28.22%	to	-28.33%
2021		1.60%	to	1.75%		11,558		58.75	to	51.77		648,455		2.04%		37.57%	to	37.36%
2020		1.60%	to	1.75%		12,135		42.71	to	37.69		495,567		2.67%		-18.18%	to	-18.31%
2019		1.60%	to	1.75%		13,864		52.20	to	46.14		699,177		2.11%		17.04%	to	16.86%
Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class II (DTRTFB)
2023		0.95%	to	1.40%		60,758		9.74	to	9.49		588,191		3.30%		4.66%	to	4.19%
2022		0.95%	to	1.40%		55,999		9.30	to	9.11		518,127		2.57%		-14.04%	to	-14.43%
2021		0.95%	to	1.40%		65,370		10.82	to	10.64		704,569		2.46%		-1.39%	to	-1.84%
2020		0.95%	to	1.40%		57,347		10.98	to	10.84		627,244		2.50%		2.76%	to	2.29%
2019		0.95%	to	1.40%		45,417		10.68	to	10.60		483,794		4.06%		5.57%	to	5.09%
Nationwide Variable Insurance Trust - NVIT BlackRock Equity Dividend Fund: Class I (EIF)
2023		0.95%	to	2.05%		455,630		38.44	to	23.25		16,917,947		1.82%		10.92%	to	9.70%
2022		0.95%	to	2.05%		504,949		34.66	to	21.19		16,936,585		1.44%		-4.90%	to	-5.95%
2021		0.95%	to	2.05%		562,164		36.44	to	22.54		19,899,264		1.22%		19.16%	to	17.83%
2020		0.95%	to	2.20%		640,197		30.58	to	18.50		19,036,279		1.75%		2.64%	to	1.35%
2019		0.95%	to	2.20%		693,926		29.80	to	18.25		20,097,739		1.80%		26.10%	to	24.51%
Nationwide Variable Insurance Trust - NVIT Government Bond Fund: Class I (GBF)
2023		0.95%	to	2.20%		2,661,173		18.12	to	12.25		44,168,060		2.63%		3.72%	to	2.40%
2022		0.95%	to	2.25%		2,910,714		17.47	to	12.24		46,739,562		1.97%		-13.38%	to	-14.52%
2021		0.95%	to	2.25%		3,315,114		20.17	to	14.32		61,456,813		1.55%		-2.98%	to	-4.28%
2020		0.95%	to	2.20%		3,638,638		20.79	to	14.60		69,724,689		1.98%		5.07%	to	3.75%
2019		0.95%	to	2.20%		3,975,035		19.79	to	14.07		72,593,513		2.26%		5.26%	to	3.93%
Nationwide Variable Insurance Trust - NVIT Government Bond Fund: Class II (GBF2)
2023		1.50%	to	2.60%		54,282		11.92	to	9.35		591,971		2.40%		2.87%	to	1.73%
2022		1.50%	to	2.60%		65,399		11.59	to	9.19		697,604		1.63%		-14.04%	to	-15.00%
2021		1.50%	to	2.60%		79,729		13.48	to	10.81		992,315		1.49%		-3.82%	to	-4.90%
2020		1.50%	to	2.60%		81,228		14.02	to	11.37		1,055,781		1.57%		4.20%	to	3.04%
2019		1.50%	to	2.60%		89,252		13.45	to	11.03		1,117,303		2.13%		4.42%	to	3.25%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class I (GEM)
2023		0.95%	to	2.05%		332,133		21.96	to	16.94		7,019,712		1.67%		3.18%	to	2.03%
2022		0.95%	to	2.05%		365,849		21.28	to	16.60		7,501,525		0.89%		-25.46%	to	-26.29%
2021		0.95%	to	2.05%		394,431		28.55	to	22.52		10,870,250		0.93%		-8.17%	to	-9.18%
2020		0.95%	to	2.05%		456,459		31.09	to	24.80		13,724,439		1.91%		12.22%	to	10.98%
2019		0.95%	to	2.05%		515,740		27.70	to	22.34		13,823,367		2.50%		21.78%	to	20.43%
Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)
2023		1.50%	to	2.20%		16,662		8.79	to	8.21		141,111		1.46%		2.31%	to	1.58%
2022		1.50%	to	2.20%		17,418		8.60	to	8.08		144,794		0.66%		-26.04%	to	-26.57%
2021		1.50%	to	2.20%		17,731		11.62	to	11.00		200,582		0.96%		-8.90%	to	-9.55%
2020		1.50%	to	2.20%		18,032		12.76	to	12.16		224,986		1.55%		11.30%	to	10.51%
2019		1.50%	to	2.20%		24,496		11.46	to	11.01		274,975		1.91%		20.83%	to	19.97%
Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)
2023		0.95%	to	2.05%		552,125		21.40	to	16.51		11,448,851		2.69%		20.56%	to	19.22%
2022		0.95%	to	2.05%		637,539		17.75	to	13.85		10,972,035		3.65%		-14.94%	to	-15.88%
2021		0.95%	to	2.05%		716,920		20.87	to	16.46		14,514,780		2.49%		11.60%	to	10.35%
2020		0.95%	to	2.20%		780,542		18.70	to	14.46		14,174,815		1.18%		6.92%	to	5.57%
2019		0.95%	to	2.20%		873,503		17.49	to	13.70		14,827,558		2.48%		17.99%	to	16.50%
Nationwide Variable Insurance Trust - NVIT American Funds Asset Allocation Fund: Class II (GVAAA2)
2023		0.95%	to	2.25%		3,084,777		25.64	to	20.30		76,692,648		0.00%		12.76%	to	11.29%
2022		0.95%	to	2.25%		3,376,092		22.74	to	18.24		74,484,196		0.00%		-14.56%	to	-15.68%
2021		0.95%	to	2.25%		3,705,844		26.61	to	21.64		95,833,955		1.03%		13.62%	to	4.53%
2020		0.95%	to	2.20%		2,539,595		23.42	to	19.44		57,697,889		1.47%		10.93%	to	9.53%
2019		0.95%	to	2.20%		2,787,180		21.11	to	17.75		57,244,561		1.61%		19.64%	to	18.13%
Nationwide Variable Insurance Trust - NVIT American Funds Bond Fund: Class II (GVABD2)
2023		0.95%	to	1.65%		636,041		12.55	to	11.08		7,733,135		0.00%		3.51%	to	2.78%
2022		0.95%	to	1.75%		746,459		12.13	to	10.59		8,805,290		0.00%		-13.63%	to	-14.33%
2021		0.95%	to	1.75%		853,081		14.04	to	12.37		11,667,595		1.90%		-1.66%	to	-2.45%
2020		0.95%	to	1.75%		919,975		14.28	to	12.68		12,824,185		2.11%		8.17%	to	7.29%
2019		0.95%	to	1.75%		741,252		13.20	to	11.82		9,574,291		1.83%		7.95%	to	7.08%
Nationwide Variable Insurance Trust - NVIT American Funds Global Growth Fund: Class II (GVAGG2)
2023		0.95%	to	1.85%		568,924		34.60	to	29.45		19,114,785		0.00%		20.99%	to	19.89%
2022		0.95%	to	1.95%		613,354		28.60	to	24.15		17,022,944		0.00%		-25.77%	to	-26.51%
2021		0.95%	to	1.95%		696,358		38.53	to	32.86		26,079,856		0.00%		14.90%	to	13.74%
2020		0.95%	to	1.95%		790,505		33.53	to	28.89		25,817,737		0.64%		28.70%	to	27.40%
2019		0.95%	to	1.95%		941,431		26.05	to	22.68		23,939,804		0.65%		33.50%	to	32.15%
Nationwide Variable Insurance Trust - NVIT American Funds Growth-Income Fund: Class II (GVAGI2)
2023		0.95%	to	1.65%		681,184		31.28	to	27.79		20,763,337		0.00%		24.49%	to	23.62%
2022		0.95%	to	1.65%		754,181		25.12	to	22.48		18,484,048		0.00%		-17.61%	to	-18.19%
2021		0.95%	to	1.65%		818,588		28.64	to	27.48		24,369,352		1.05%		22.47%	to	21.61%
2020		0.95%	to	1.65%		934,461		24.90	to	22.60		22,763,528		1.58%		12.00%	to	11.21%
2019		0.95%	to	1.65%		1,271,231		22.23	to	20.32		27,720,664		1.33%		24.47%	to	23.59%
Nationwide Variable Insurance Trust - NVIT American Funds Growth Fund: Class II (GVAGR2)
2023		0.95%	to	2.35%		866,298		47.82	to	37.19		40,077,761		0.00%		36.65%	to	34.72%
2022		0.95%	to	2.35%		987,915		35.00	to	27.61		33,506,358		0.00%		-30.88%	to	-31.86%
2021		0.95%	to	2.35%		1,135,715		50.63	to	40.51		55,758,246		0.00%		20.38%	to	18.68%
2020		0.95%	to	2.00%		1,193,536		42.06	to	35.97		48,965,631		0.72%		50.06%	to	48.47%
2019		0.95%	to	1.95%		1,329,900		28.03	to	24.40		36,430,891		0.34%		29.05%	to	27.75%
Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Aggressive Fund: Class II (GVDMA)
2023		0.95%	to	2.50%		1,853,324		31.16	to	22.05		54,624,397		0.00%		16.81%	to	14.99%
2022		0.95%	to	2.50%		1,985,264		26.68	to	19.18		50,155,958		0.00%		-19.06%	to	-20.32%
2021		0.95%	to	2.50%		2,139,150		32.96	to	24.07		66,921,798		0.15%		12.55%	to	10.79%
2020		0.95%	to	2.50%		2,308,170		29.28	to	21.72		64,312,554		0.22%		11.26%	to	9.52%
2019		0.95%	to	2.50%		2,706,568		26.32	to	19.83		68,018,888		2.02%		20.67%	to	18.78%
Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Conservative Fund: Class II (GVDMC)
2023		0.95%	to	2.60%		963,292		21.42	to	14.82		19,514,429		0.00%		10.19%	to	8.36%
2022		0.95%	to	2.60%		1,165,340		19.44	to	13.68		21,438,065		0.00%		-15.20%	to	-16.61%
2021		0.95%	to	2.60%		1,313,267		22.93	to	16.40		28,596,361		0.20%		5.69%	to	3.93%
2020		0.95%	to	2.60%		1,434,858		21.69	to	15.78		29,619,915		0.14%		7.52%	to	5.73%
2019		0.95%	to	2.60%		1,611,934		20.17	to	14.93		30,944,463		2.12%		12.40%	to	10.53%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class I (GVEX1)
2023		0.95%	to	1.60%		74,466		17.11	to	16.70		1,261,289		1.63%		24.77%	to	23.95%
2022		0.95%	to	1.35%		58,190		13.71	to	13.56		792,448		1.17%		-19.09%	to	-19.42%
2021		0.95%	to	1.65%		63,892		16.94	to	16.75		1,078,108		1.83%		27.15%	to	26.25%
2020		1.10%	to	1.35%		73,738		13.31	to	13.29		980,972		5.78%		33.13%	to	32.90%	****
Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class II (GVEX2)
2023		0.95%	to	1.65%		1,240,589		31.63	to	29.32		38,725,859		1.15%		24.61%	to	23.73%
2022		0.95%	to	1.80%		1,270,982		25.38	to	23.70		31,873,881		0.99%		-19.34%	to	-19.90%
2021		0.95%	to	1.65%		1,358,570		31.46	to	29.59		42,299,472		1.95%		26.88%	to	25.98%
2020		0.95%	to	1.80%		1,377,664		24.80	to	23.29		33,843,043		1.72%		16.73%	to	15.78%
2019		0.95%	to	1.80%		1,392,440		21.24	to	20.12		29,305,073		1.95%		29.60%	to	28.53%
Nationwide Variable Insurance Trust - NVIT Investor Destinations Aggressive Fund: Class II (GVIDA)
2023		0.95%	to	2.60%		793,422		33.98	to	23.51		25,741,023		0.00%		18.25%	to	16.29%
2022		0.95%	to	2.60%		859,280		28.74	to	20.22		23,585,141		0.00%		-19.66%	to	-20.99%
2021		0.95%	to	2.60%		914,569		35.77	to	25.59		31,308,139		0.13%		14.41%	to	12.50%
2020		0.95%	to	2.60%		1,008,647		31.26	to	22.75		30,231,833		0.23%		11.74%	to	9.88%
2019		0.95%	to	2.60%		1,078,437		27.98	to	20.70		28,912,968		2.03%		22.56%	to	20.52%
Nationwide Variable Insurance Trust - NVIT Investor Destinations Conservative Fund: Class II (GVIDC)
2023		0.95%	to	2.20%		736,991		16.83	to	12.74		11,747,148		0.00%		7.00%	to	5.66%
2022		0.95%	to	2.20%		966,213		15.73	to	12.06		14,370,469		0.00%		-13.03%	to	-14.12%
2021		0.95%	to	2.50%		1,103,963		18.09	to	13.21		18,938,684		0.22%		1.77%	to	0.18%
2020		0.95%	to	2.60%		1,261,149		17.77	to	12.93		21,320,396		0.10%		5.70%	to	3.94%
2019		0.95%	to	2.60%		1,335,817		16.81	to	12.44		21,486,140		2.10%		8.49%	to	6.69%
Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderate Fund: Class II (GVIDM)
2023		0.95%	to	2.60%		3,423,372		26.00	to	17.99		84,555,666		0.00%		13.64%	to	11.75%
2022		0.95%	to	2.60%		3,813,418		22.88	to	16.10		83,077,740		0.00%		-17.34%	to	-18.72%
2021		0.95%	to	2.60%		4,340,198		24.72	to	19.81		114,727,965		0.19%		9.28%	to	7.45%
2020		0.95%	to	2.60%		4,870,080		25.34	to	18.44		117,949,556		0.14%		9.30%	to	7.48%
2019		0.95%	to	2.60%		5,375,488		23.18	to	17.15		119,301,025		2.08%		16.63%	to	14.68%
Nationwide Variable Insurance Trust - NVIT International Index Fund: Class VIII (GVIX8)
2023		0.95%	to	1.70%		337,731		14.15	to	12.37		4,658,280		2.15%		16.11%	to	15.24%
2022		0.95%	to	1.70%		355,440		12.19	to	10.74		4,220,244		3.51%		-15.41%	to	-16.05%
2021		0.95%	to	1.70%		377,505		14.41	to	12.79		5,308,647		2.60%		9.30%	to	8.47%
2020		0.95%	to	1.70%		392,843		13.18	to	11.79		5,054,841		2.34%		6.11%	to	5.31%
2019		0.95%	to	1.70%		348,435		12.42	to	11.20		4,228,137		3.05%		20.05%	to	19.14%
Nationwide Variable Insurance Trust - NVIT Federated High Income Bond Fund: Class I (HIBF)
2023		0.95%	to	1.95%		632,627		30.70	to	21.26		18,347,603		5.85%		12.05%	to	10.93%
2022		0.95%	to	1.95%		704,635		27.40	to	19.16		18,248,997		5.29%		-12.77%	to	-13.65%
2021		0.95%	to	1.95%		796,592		31.41	to	22.19		23,688,129		4.66%		3.97%	to	2.92%
2020		0.95%	to	2.20%		848,750		30.21	to	20.40		24,328,246		5.04%		5.01%	to	3.68%
2019		0.95%	to	2.20%		1,035,501		28.77	to	19.68		28,321,633		5.63%		13.65%	to	12.22%
Nationwide Variable Insurance Trust - NVIT Investor Destinations Managed Growth Fund: Class II (IDPG2)
2023		0.95%	to	1.20%		31,973		14.79	to	14.40		468,869		0.00%		11.89%	to	11.61%
2022		0.95%	to	1.20%		42,739		13.22	to	12.90		559,868		0.00%		-15.96%	to	-16.18%
2021		0.95%	to	1.20%		38,490		15.73	to	15.39		600,113		0.18%		10.95%	to	10.67%
2020		0.95%	to	1.45%		43,769		14.18	to	13.64		614,682		0.12%		5.32%	to	4.79%
2019		0.95%	to	1.45%		42,633		13.47	to	13.02		569,166		2.20%		14.15%	to	13.58%
Nationwide Variable Insurance Trust - NVIT Investor Destinations Managed Growth & Income Fund: Class II (IDPGI2)
2023		0.95%	to	1.20%		5,236		13.40	to	13.04		69,405		0.00%		11.07%	to	10.79%
2022		0.95%	to	1.10%		3,995		12.06	to	11.89		47,926		0.00%		-14.98%	to	-15.11%
2021		0.95%	to	1.10%		3,922		14.19	to	14.01		55,380		0.19%		6.55%	to	6.39%
2020		0.95%	to	1.10%		3,855		13.32	to	13.16		51,123		0.12%		3.57%	to	3.41%
2019		0.95%	to	1.10%		4,415		12.86	to	12.73		56,600		2.10%		11.92%	to	11.76%
Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class I (MCIF)
2023		0.95%	to	2.25%		793,427		80.71	to	44.18		65,098,299		1.21%		14.96%	to	13.45%
2022		0.95%	to	2.25%		898,210		70.21	to	38.94		64,248,587		1.15%		-14.22%	to	-15.34%
2021		0.95%	to	2.25%		995,604		81.85	to	46.00		83,174,906		1.15%		23.08%	to	21.47%
2020		0.95%	to	2.25%		1,141,199		66.50	to	37.87		77,670,539		1.17%		12.04%	to	10.57%
2019		0.95%	to	2.25%		1,298,570		59.35	to	34.25		79,002,258		1.31%		24.46%	to	22.82%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class II (MCIF2)
2023		1.50%	to	2.60%		213,613		10.02	to	9.72		2,123,130		1.03%		14.09%	to	12.82%
2022		1.50%	to	2.60%		245,286		8.78	to	8.62		2,142,596		0.99%		-14.85%	to	-15.80%
2021		1.50%	to	2.60%		259,482		10.31	to	10.24		2,670,205		1.04%		3.13%	to	2.36%	****
Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)
2023		0.95%	to	2.60%		966,965		24.95	to	16.30		23,137,525		5.48%		7.67%	to	5.88%
2022		0.95%	to	2.60%		1,059,957		23.18	to	15.39		23,592,431		3.56%		-3.22%	to	-4.83%
2021		0.95%	to	2.60%		1,159,295		23.95	to	16.18		26,668,339		5.50%		4.27%	to	2.50%
2020		0.95%	to	2.60%		1,226,969		22.97	to	15.78		27,068,991		3.34%		3.07%	to	1.35%
2019		0.95%	to	2.60%		1,403,248		22.29	to	15.57		30,127,666		4.79%		8.13%	to	6.33%
Nationwide Variable Insurance Trust - NVIT Managed American Funds Asset Allocation Fund: Class II (NAMAA2)
2023		0.95%	to	1.65%		130,212		15.66	to	14.64		1,993,162		0.00%		16.11%	to	15.29%
2022		0.95%	to	1.60%		140,261		13.48	to	12.75		1,857,574		0.00%		-15.11%	to	-15.66%
2021		0.95%	to	1.60%		145,338		15.88	to	15.12		2,271,900		0.00%		11.64%	to	10.90%
2020		0.95%	to	1.65%		151,524		14.23	to	13.59		2,126,056		1.45%		6.07%	to	5.32%
2019		0.95%	to	1.60%		78,877		13.41	to	12.94		1,047,297		2.05%		17.84%	to	17.07%
Nationwide Variable Insurance Trust - NVIT Managed American Funds Growth-Income Fund: Class II (NAMGI2)
2023		0.95%	to	1.20%		17,701		20.47	to	19.98		358,498		0.00%		23.13%	to	22.82%
2022		0.95%	to	1.35%		18,391		16.62	to	16.06		302,766		0.00%		-16.21%	to	-16.55%
2021		0.95%	to	1.35%		16,299		19.84	to	19.25		320,048		0.19%		21.29%	to	20.80%
2020		0.95%	to	1.65%		16,242		16.36	to	15.62		261,352		1.28%		5.96%	to	5.22%
2019		0.95%	to	1.35%		10,602		15.43	to	15.10		162,693		1.03%		20.82%	to	20.34%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Managed Growth Fund: Class II (NCPG2)
2023		0.95%	to	1.35%		9,914		15.21	to	14.57		148,515		0.00%		11.36%	to	10.91%
2022		0.95%	to	1.35%		9,651		13.66	to	13.13		129,966		0.00%		-16.03%	to	-16.37%
2021		0.95%	to	1.35%		10,643		16.27	to	15.71		170,761		0.14%		14.32%	to	13.86%
2020		0.95%	to	1.35%		11,850		14.23	to	13.79		166,417		0.63%		6.34%	to	5.91%
2019		0.95%	to	1.35%		16,547		13.38	to	13.03		219,115		2.32%		14.32%	to	13.86%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Managed Growth & Income Fund: Class II (NCPGI2)
2023		0.95%	to	1.20%		14,778		13.88	to	13.51		200,024		0.00%		11.42%	to	11.14%
2022		0.95%	to	1.20%		15,017		12.46	to	12.15		182,846		0.00%		-14.64%	to	-14.86%
2021		0.95%	to	1.20%		14,782		14.59	to	14.28		211,346		0.13%		9.03%	to	8.76%
2020		0.95%	to	1.20%		23,170		13.38	to	13.13		304,517		0.64%		4.04%	to	3.78%
2019		0.95%	to	1.20%		24,515		12.86	to	12.65		310,672		2.52%		12.77%	to	12.49%
Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class I (NVAMV1)
2023		0.95%	to	2.25%		2,236,149		45.21	to	37.25		98,712,540		1.71%		7.81%	to	6.40%
2022		0.95%	to	2.25%		2,525,730		41.94	to	35.01		103,589,675		1.17%		-2.07%	to	-3.35%
2021		0.95%	to	2.25%		2,809,070		42.82	to	36.23		117,794,275		1.43%		33.25%	to	10.49%
2020		0.95%	to	2.20%		2,514,238		32.14	to	27.71		79,240,437		1.58%		0.53%	to	-0.74%
2019		0.95%	to	2.20%		3,158,015		31.97	to	27.92		99,111,280		2.64%		25.75%	to	24.16%
Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class II (NVAMV2)
2023		1.50%	to	2.50%		26,380		40.61	to	34.97		1,018,943		1.56%		7.03%	to	5.95%
2022		1.50%	to	2.60%		28,574		37.94	to	32.55		1,036,408		1.03%		-2.77%	to	-3.86%
2021		1.50%	to	2.60%		30,105		39.03	to	33.85		1,125,599		0.96%		32.31%	to	30.83%
2020		1.50%	to	2.60%		38,728		29.50	to	25.87		1,094,507		1.10%		-0.13%	to	-1.24%
2019		1.50%	to	2.60%		60,234		29.53	to	26.20		1,707,962		2.50%		24.78%	to	23.39%
Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)
2023		0.95%	to	2.20%		949,068		16.70	to	16.01		15,744,464		1.88%		7.96%	to	6.60%
2022		0.95%	to	2.20%		1,037,297		15.46	to	15.02		15,967,899		1.31%		-1.96%	to	-3.19%
2021		0.95%	to	2.20%		1,141,306		15.77	to	15.51		17,956,312		1.42%		33.43%	to	31.75%
2020		0.95%	to	2.20%		1,013,765		11.82	to	11.78		11,976,773		1.63%		18.21%	to	17.76%	****
Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class Z (NVAMVZ)
2023		0.95%	to	2.60%		95,667		16.56	to	15.67		1,553,332		1.61%		7.75%	to	5.96%
2022		0.95%	to	2.60%		108,994		15.37	to	14.79		1,651,081		1.05%		-2.24%	to	-3.86%
2021		0.95%	to	2.60%		125,133		15.72	to	15.38		1,950,926		1.12%		33.08%	to	30.86%
2020		0.95%	to	2.60%		127,334		11.82	to	11.76		1,501,679		1.50%		18.16%	to	17.57%	****

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Nationwide Variable Insurance Trust - NVIT Core Bond Fund: Class I (NVCBD1)
2023		0.95%	to	1.75%		516,613		13.29	to	11.70		6,667,313		2.72%		4.24%	to	3.35%
2022		0.95%	to	1.80%		674,580		12.75	to	11.32		8,364,530		2.64%		-15.50%	to	-16.18%
2021		0.95%	to	1.75%		545,726		15.09	to	13.51		8,000,425		1.92%		-2.01%	to	-2.76%
2020		0.95%	to	1.80%		588,994		15.40	to	13.84		8,826,581		2.92%		6.00%	to	5.12%
2019		0.95%	to	1.80%		459,396		14.53	to	13.14		6,478,987		3.67%		7.91%	to	6.98%
Nationwide Variable Insurance Trust - NVIT Core Bond Fund: Class II (NVCBD2)
2023		1.50%	to	2.20%		16,413		11.71	to	10.47		176,320		2.88%		3.48%	to	2.75%
2022		1.50%	to	2.50%		16,704		11.32	to	9.74		174,619		2.05%		-16.26%	to	-17.11%
2021		1.50%	to	2.50%		17,439		13.51	to	11.75		219,021		1.57%		-2.73%	to	-3.72%
2020		1.60%	to	2.50%		35,925		13.71	to	12.21		465,435		2.12%		5.06%	to	4.10%
2019		1.50%	to	2.50%		44,245		13.21	to	11.73		552,794		2.68%		7.07%	to	5.98%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Capital Appreciation Fund: Class II (NVCCA2)
2023		0.95%	to	1.45%		182,172		20.98	to	19.38		3,721,963		0.00%		15.18%	to	14.60%
2022		0.95%	to	1.45%		208,434		18.21	to	16.91		3,704,438		0.00%		-15.86%	to	-16.28%
2021		0.95%	to	1.65%		222,373		21.64	to	19.64		4,702,008		0.16%		14.66%	to	13.85%
2020		0.95%	to	1.65%		246,080		18.88	to	17.25		4,545,607		0.95%		10.41%	to	9.63%
2019		0.95%	to	1.35%		274,903		17.10	to	16.31		4,617,692		2.77%		19.10%	to	18.62%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Conservative Fund: Class II (NVCCN2)
2023		0.95%	to	1.65%		398,804		14.38	to	12.87		5,529,422		0.00%		7.80%	to	7.04%
2022		0.95%	to	1.65%		452,243		13.34	to	12.02		5,843,852		0.00%		-12.90%	to	-13.52%
2021		0.95%	to	1.65%		564,593		15.32	to	13.90		8,420,801		0.11%		3.39%	to	2.66%
2020		0.95%	to	1.65%		555,121		14.82	to	13.54		7,985,835		0.25%		6.57%	to	5.82%
2019		0.95%	to	1.65%		545,355		13.90	to	12.80		7,392,393		2.49%		9.62%	to	8.84%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Aggressive Fund: Class II (NVCMA2)
2023		0.95%	to	1.65%		163,922		22.18	to	19.85		3,561,998		0.00%		16.79%	to	15.97%
2022		0.95%	to	1.65%		173,392		19.00	to	17.12		3,226,047		0.00%		-15.93%	to	-16.53%
2021		0.95%	to	1.90%		188,821		22.60	to	19.81		4,179,877		0.15%		16.94%	to	15.82%
2020		0.95%	to	1.90%		247,811		19.32	to	17.10		4,712,560		1.18%		11.19%	to	10.13%
2019		0.95%	to	1.90%		203,771		17.38	to	15.53		3,466,882		2.72%		21.07%	to	19.91%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Conservative Fund: Class II (NVCMC2)
2023		0.95%	to	1.85%		236,041		17.02	to	14.76		3,932,726		0.00%		10.64%	to	9.64%
2022		0.95%	to	1.85%		281,268		15.39	to	13.46		4,236,294		0.00%		-13.90%	to	-14.68%
2021		0.95%	to	1.85%		313,782		17.87	to	15.77		5,488,867		0.15%		7.99%	to	7.01%
2020		0.95%	to	1.85%		282,984		16.55	to	14.74		4,591,499		0.56%		8.02%	to	7.04%
2019		0.95%	to	1.85%		312,333		15.32	to	13.77		4,700,796		2.44%		13.22%	to	12.19%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderate Fund: Class II (NVCMD2)
2023		0.95%	to	1.45%		425,990		19.73	to	18.23		8,197,969		0.00%		13.83%	to	13.26%
2022		0.95%	to	1.45%		543,283		17.34	to	16.10		9,178,993		0.00%		-14.94%	to	-15.37%
2021		0.95%	to	1.55%		611,366		20.38	to	18.76		12,160,989		0.16%		12.39%	to	11.71%
2020		0.95%	to	1.55%		654,850		18.13	to	16.79		11,602,715		0.83%		9.64%	to	8.97%
2019		0.95%	to	1.80%		746,308		16.54	to	14.96		12,083,735		2.68%		17.02%	to	16.02%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Aggressive Fund: Class II (NVCRA2)
2023		0.95%	to	1.65%		149,742		23.33	to	20.88		3,410,861		0.00%		18.40%	to	17.57%
2022		0.95%	to	1.65%		151,643		19.70	to	17.76		2,920,496		0.00%		-16.02%	to	-16.61%
2021		0.95%	to	1.65%		162,254		23.46	to	21.29		3,727,316		0.13%		18.96%	to	18.12%
2020		0.95%	to	1.40%		159,723		19.72	to	18.62		3,093,047		1.16%		11.49%	to	10.98%
2019		0.95%	to	2.25%		173,867		17.69	to	15.16		3,020,137		2.84%		22.78%	to	21.17%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Balanced Fund: Class II (NVCRB2)
2023		0.95%	to	1.70%		531,297		18.19	to	16.15		9,331,563		0.00%		12.25%	to	11.40%
2022		0.95%	to	1.80%		489,750		16.21	to	14.50		7,682,317		0.00%		-14.52%	to	-15.17%
2021		0.95%	to	1.70%		547,684		18.96	to	17.09		10,081,729		0.16%		9.94%	to	9.11%
2020		0.95%	to	1.80%		565,519		17.25	to	15.50		9,496,468		0.73%		8.64%	to	7.73%
2019		0.95%	to	1.80%		512,607		15.88	to	14.39		7,966,170		2.49%		15.08%	to	14.11%
Nationwide Variable Insurance Trust - NVIT Investor Destinations Balanced Fund: Class II (NVDBL2)
2023		0.95%	to	1.75%		260,271		21.43	to	19.02		5,443,396		0.00%		11.97%	to	11.07%
2022		0.95%	to	1.75%		292,839		19.14	to	17.13		5,474,473		0.00%		-15.80%	to	-16.48%
2021		0.95%	to	1.75%		347,682		22.73	to	20.51		7,720,422		0.19%		7.21%	to	6.35%
2020		0.95%	to	1.75%		435,016		21.20	to	19.28		9,037,292		0.13%		8.37%	to	7.49%
2019		0.95%	to	1.75%		435,680		19.56	to	17.94		8,381,245		2.22%		14.25%	to	13.32%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Nationwide Variable Insurance Trust - NVIT Investor Destinations Capital Appreciation Fund: Class II (NVDCA2)
2023		0.95%	to	1.85%		68,593		27.55	to	24.10		1,843,224		0.00%		15.27%	to	14.23%
2022		0.95%	to	1.85%		100,104		23.90	to	21.10		2,343,942		0.00%		-18.35%	to	-19.09%
2021		0.95%	to	2.00%		109,507		29.27	to	25.57		3,140,538		0.17%		11.10%	to	9.92%
2020		0.95%	to	2.00%		120,226		26.34	to	23.26		3,109,447		0.15%		10.56%	to	9.39%
2019		0.95%	to	2.00%		77,258		23.83	to	21.27		1,808,711		2.08%		18.80%	to	17.54%
Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class II (NVFIII)
2023		0.95%	to	1.20%		33,584		9.63	to	9.51		322,632		2.66%		4.22%	to	3.96%
2022		0.95%	to	1.20%		37,189		9.24	to	9.15		343,148		1.62%		-14.55%	to	-14.77%
2021		0.95%	to	1.20%		43,475		10.81	to	10.74		469,844		1.13%		-2.96%	to	-3.20%
2020		0.95%	to	1.40%		44,346		11.14	to	11.06		492,887		1.61%		6.11%	to	5.62%
2019		0.95%				9		10.50				94		0.14%		4.98%		*	***
Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class II (NVGEII)
2023		0.95%	to	1.60%		50,407		14.78	to	14.33		741,716		2.17%		19.34%	to	18.56%
2022		0.95%	to	1.60%		13,058		12.38	to	12.09		160,944		0.98%		-17.17%	to	-17.72%
2021		0.95%	to	1.60%		32,597		14.95	to	14.69		486,518		1.42%		20.71%	to	19.92%	****
Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class II (NVIE6)
2023		0.95%	to	1.55%		43,756		10.98	to	10.94		480,012		5.36%		9.80%	to	9.36%
Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class I (NVLCP1)
2023		0.95%	to	1.20%		106,270		9.11	to	9.06		965,468		3.58%		6.43%	to	6.09%
2022		0.95%	to	1.20%		102,874		8.56	to	8.54		879,701		2.51%		-14.31%	to	-14.51%
2021		0.95%	to	1.20%		138,976		9.99				1,388,371		1.76%		-0.10%		*	***
Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class II (NVLCP2)
2023		1.20%	to	1.70%		108,935		13.89	to	12.83		1,499,457		3.72%		5.89%	to	5.35%
2022		1.20%	to	1.70%		106,647		13.12	to	12.18		1,386,570		2.32%		-14.79%	to	-15.22%
2021		1.20%	to	1.70%		113,475		15.39	to	14.36		1,731,995		0.28%		-2.12%	to	-2.62%
2020		0.95%	to	1.70%		261,741		16.24	to	14.75		4,134,881		2.83%		8.00%	to	7.19%
2019		0.95%	to	1.65%		229,702		15.03	to	13.84		3,373,843		2.70%		8.55%	to	7.79%
Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class P (NVLCPP)
2023		0.95%	to	1.75%		921,943		9.02	to	8.85		8,293,550		3.55%		6.34%	to	5.49%
2022		0.95%	to	1.75%		1,015,700		8.48	to	8.39		8,598,428		2.35%		-14.42%	to	-15.11%
2021		0.95%	to	1.75%		1,215,293		9.89	to	9.88		12,034,363		3.51%		-0.94%	to	-1.16%	****
Nationwide Variable Insurance Trust - NVIT BlackRock Managed Global Allocation Fund: Class II (NVMGA2)
2023		0.95%	to	1.40%		12,674		13.43	to	12.97		167,628		0.00%		10.75%	to	10.25%
2022		0.95%	to	1.40%		13,390		12.12	to	11.76		160,906		0.00%		-15.65%	to	-16.03%
2021		0.95%	to	1.40%		12,825		14.37	to	14.01		182,506		3.28%		3.43%	to	2.96%
2020		0.95%	to	1.40%		12,961		13.90	to	13.60		178,485		2.91%		13.46%	to	12.94%
2019		0.95%	to	1.45%		12,856		12.25	to	12.02		156,313		0.53%		13.85%	to	13.28%
Nationwide Variable Insurance Trust - NVIT NS Partners International Focused Growth Fund: Class I (NVMIG1)
2023		0.95%	to	2.05%		908,849		24.87	to	21.12		22,133,571		1.86%		14.57%	to	13.31%
2022		0.95%	to	2.05%		1,027,398		21.71	to	18.64		21,865,524		0.00%		-38.52%	to	-39.20%
2021		0.95%	to	2.05%		1,080,220		35.31	to	30.65		37,440,827		0.37%		-2.03%	to	-3.11%
2020		0.95%	to	2.05%		1,200,292		36.04	to	31.63		42,518,700		0.99%		49.61%	to	47.95%
2019		0.95%	to	2.05%		1,338,588		24.09	to	21.38		31,720,849		1.23%		31.88%	to	30.42%
Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)
2023		0.95%	to	1.95%		271,403		13.76	to	13.32		3,713,295		2.72%		14.58%	to	13.42%
2022		0.95%	to	2.20%		293,473		12.01	to	11.68		3,510,816		3.57%		-6.76%	to	-7.93%
2021		0.95%	to	2.20%		325,564		12.88	to	12.68		4,183,675		3.29%		9.53%	to	8.15%
2020		0.95%	to	2.20%		354,480		11.76	to	11.73		4,166,426		0.00%		17.59%	to	17.28%	****
Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class Z (NVMIVZ)
2023		1.50%	to	2.20%		12,092		13.41	to	13.10		160,309		2.34%		13.64%	to	12.83%
2022		1.50%	to	2.60%		12,846		11.80	to	11.51		150,369		3.60%		-7.53%	to	-8.56%
2021		1.50%	to	2.60%		14,792		12.76	to	12.59		188,025		2.88%		8.63%	to	7.41%
2020		1.50%	to	2.60%		17,864		11.75	to	11.72		209,697		0.00%		17.46%	to	17.18%	****

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)
2023		0.95%	to	2.20%		542,893		52.05	to	42.66		26,688,368		5.22%		34.08%	to	32.39%
2022		0.95%	to	2.60%		584,999		38.82	to	30.34		21,734,649		5.19%		-13.32%	to	-14.76%
2021		0.95%	to	2.60%		620,678		42.30	to	35.60		26,638,679		0.00%		39.11%	to	36.80%
2020		0.95%	to	2.60%		690,833		32.19	to	26.02		21,368,060		0.00%		28.86%	to	26.71%
2019		0.95%	to	2.60%		841,394		24.98	to	20.54		20,310,052		3.97%		29.29%	to	27.14%
Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class II (NVMLG2)
2023		1.50%	to	2.20%		5,059		45.92	to	41.07		213,710		5.94%		32.97%	to	32.03%
2022		1.50%	to	2.60%		7,110		34.53	to	29.29		225,318		4.87%		-13.95%	to	-14.91%
2021		1.50%	to	2.60%		7,537		40.13	to	34.42		279,491		0.00%		37.78%	to	36.24%
2020		1.50%	to	2.60%		8,599		29.13	to	25.27		232,850		0.00%		27.97%	to	26.54%
2019		1.50%	to	2.60%		8,997		22.76	to	19.97		191,541		3.14%		28.27%	to	26.83%
Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class II (NVMM2)
2023		0.95%	to	2.25%		2,145,014		10.35	to	10.07		22,166,735		4.41%		3.50%	to	2.14%
2022		0.95%	to	2.25%		1,866,431		10.00	to	9.86		18,650,764		1.56%		0.17%	to	-1.14%
2021		0.95%	to	1.55%		194,084		9.99	to	9.98		1,938,085		0.00%		-0.13%	to	-0.21%	****
Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class I (NVMMG1)
2023		0.95%	to	2.20%		1,918,083		27.76	to	22.75		52,055,288		0.00%		19.45%	to	17.93%
2022		0.95%	to	2.20%		2,160,111		23.24	to	19.29		49,149,893		0.00%		-38.20%	to	-38.98%
2021		0.95%	to	2.20%		2,328,839		35.53	to	31.62		85,882,412		0.12%		-5.62%	to	-6.80%
2020		0.95%	to	2.20%		2,605,531		39.85	to	33.93		101,939,031		0.00%		59.37%	to	57.36%
2019		0.95%	to	2.20%		2,932,841		25.00	to	21.56		72,069,131		0.00%		35.95%	to	34.23%
Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class II (NVMMG2)
2023		1.20%	to	2.10%		144,798		25.66	to	22.23		3,650,112		0.00%		19.00%	to	17.92%
2022		1.20%	to	2.10%		170,876		21.56	to	18.85		3,629,959		0.00%		-38.56%	to	-39.12%
2021		1.20%	to	2.10%		175,979		35.09	to	30.97		6,093,413		0.00%		-6.08%	to	-6.93%
2020		1.20%	to	2.10%		208,134		37.36	to	33.27		7,673,452		0.00%		58.57%	to	57.13%
2019		1.20%	to	2.10%		232,990		23.56	to	21.17		5,427,137		0.00%		35.20%	to	33.96%
Nationwide Variable Insurance Trust - NVIT Multi-Manager Mid Cap Value Fund: Class II (NVMMV2)
2023		0.95%	to	2.20%		1,372,896		29.71	to	24.35		39,579,143		1.47%		7.61%	to	6.25%
2022		0.95%	to	2.20%		1,546,782		27.61	to	22.92		41,520,296		1.34%		-3.59%	to	-4.80%
2021		0.95%	to	2.20%		1,710,453		27.01	to	24.07		47,706,555		0.72%		22.82%	to	21.29%
2020		0.95%	to	2.20%		1,955,719		23.31	to	19.85		44,496,128		2.06%		-0.02%	to	-3.32%
2019		0.95%	to	2.20%		2,157,798		23.81	to	20.53		50,239,000		2.26%		22.67%	to	21.12%
Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class I (NVNMO1)
2023		0.95%	to	2.05%		1,661,696		31.47	to	26.42		51,289,854		0.51%		22.22%	to	20.87%
2022		0.95%	to	2.05%		1,808,109		25.75	to	21.86		45,713,031		0.38%		-17.85%	to	-18.76%
2021		0.95%	to	2.20%		2,017,118		31.35	to	26.35		62,142,017		0.30%		25.40%	to	23.79%
2020		0.95%	to	2.20%		2,233,635		25.00	to	21.29		54,943,226		0.42%		12.47%	to	11.05%
2019		0.95%	to	2.20%		2,531,660		22.23	to	19.17		55,414,719		0.65%		26.86%	to	25.25%
Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class II (NVNMO2)
2023		0.95%	to	1.35%		22,876		22.94	to	22.24		519,738		0.41%		22.03%	to	21.54%
2022		0.95%	to	1.35%		25,095		18.80	to	18.30		468,518		0.34%		-17.90%	to	-18.23%
2021		0.95%	to	1.35%		23,042		22.90	to	22.38		524,162		0.21%		25.22%	to	24.72%
2020		0.95%	to	1.35%		18,384		18.29	to	17.94		334,972		0.32%		12.32%	to	11.87%
2019		0.95%	to	1.35%		21,042		16.28	to	16.04		341,496		0.52%		26.87%	to	26.36%
Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)
2023		0.95%	to	1.75%		72,540		29.59	to	26.06		2,089,068		0.33%		19.45%	to	18.49%
2022		0.95%	to	1.75%		77,729		24.77	to	22.00		1,869,907		0.48%		-23.65%	to	-24.26%
2021		0.95%	to	1.75%		84,809		32.45	to	29.04		2,679,824		0.33%		25.61%	to	24.59%
2020		0.95%	to	1.75%		98,065		25.83	to	23.31		2,475,130		0.75%		12.28%	to	31.18%
2019		0.95%	to	1.75%		120,773		23.01	to	20.93		2,717,752		0.83%		24.81%	to	23.80%
Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class I (NVOLG1)
2023		0.95%	to	2.20%		7,896,788		60.02	to	49.82		464,558,852		1.41%		22.72%	to	21.16%
2022		0.95%	to	2.20%		8,860,484		48.91	to	41.12		425,315,019		0.86%		-22.84%	to	-23.81%
2021		0.95%	to	2.20%		9,759,197		60.30	to	53.97		607,946,844		0.60%		29.00%	to	27.38%
2020		0.95%	to	2.20%		8,287,007		49.14	to	42.37		400,745,148		1.32%		17.77%	to	16.28%
2019		0.95%	to	2.20%		9,335,275		41.72	to	36.44		383,823,636		1.69%		36.31%	to	34.59%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class II (NVOLG2)
2023		1.50%	to	2.60%		135,059		53.31	to	45.22		6,895,040		1.17%		21.71%	to	20.36%
2022		1.50%	to	2.60%		153,169		43.80	to	37.57		6,431,371		0.63%		-23.43%	to	-24.28%
2021		1.50%	to	2.60%		160,487		57.20	to	49.61		8,829,993		0.46%		27.97%	to	26.54%
2020		1.50%	to	2.60%		135,690		44.70	to	39.21		5,873,576		1.07%		16.75%	to	15.45%
2019		1.50%	to	2.60%		166,560		38.28	to	33.96		6,187,514		1.48%		35.27%	to	33.76%
Nationwide Variable Insurance Trust - NVIT Real Estate Fund: Class I (NVRE1)
2023		0.95%	to	2.60%		1,889,851		20.65	to	15.87		38,042,858		2.23%		11.86%	to	9.95%
2022		0.95%	to	2.60%		2,173,675		18.46	to	14.43		39,199,597		1.48%		-29.20%	to	-30.38%
2021		0.95%	to	2.60%		2,447,781		26.08	to	20.73		62,445,662		1.06%		45.37%	to	42.94%
2020		0.95%	to	2.60%		2,724,636		17.94	to	14.50		47,911,467		1.49%		-0.06%	to	-7.85%
2019		0.95%	to	2.60%		3,099,421		19.15	to	15.74		58,246,990		1.67%		29.46%	to	27.30%
Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class II (NVSIX2)
2023		0.95%	to	1.55%		138,648		21.89	to	20.51		2,985,845		1.12%		15.25%	to	14.55%
2022		0.95%	to	1.55%		152,374		18.99	to	17.91		2,847,459		0.76%		-21.48%	to	-21.95%
2021		0.95%	to	1.55%		167,827		24.19	to	22.94		3,997,205		0.80%		13.12%	to	12.43%
2020		0.95%	to	1.95%		164,953		21.38	to	19.78		3,480,881		0.94%		18.18%	to	16.99%
2019		0.95%	to	1.55%		164,989		18.09	to	17.37		2,950,575		0.87%		23.77%	to	23.02%
Nationwide Variable Insurance Trust - NVIT Loomis Short Term Bond Fund: Class II (NVSTB2)
2023		0.95%	to	1.60%		370,515		11.00	to	9.92		3,974,928		3.35%		4.69%	to	4.00%
2022		0.95%	to	1.65%		440,290		10.50	to	9.47		4,512,153		1.86%		-6.56%	to	-7.22%
2021		0.95%	to	1.65%		586,630		11.24	to	10.20		6,450,138		1.13%		-1.53%	to	-2.23%
2020		0.95%	to	1.80%		504,853		11.42	to	10.25		5,649,102		1.79%		1.86%	to	0.99%
2019		0.95%	to	1.80%		452,268		11.21	to	10.15		4,979,014		2.17%		3.10%	to	2.23%
Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class I (NVTIV3)
2023		0.95%	to	1.75%		47,377		19.86	to	17.63		916,551		2.40%		14.47%	to	13.54%
2022		0.95%	to	1.75%		56,180		17.35	to	15.53		949,414		3.70%		-6.88%	to	-7.64%
2021		0.95%	to	1.75%		63,686		18.63	to	16.81		1,158,576		2.16%		9.35%	to	8.47%
2020		0.95%	to	1.75%		92,300		17.04	to	15.50		1,543,459		1.36%		4.18%	to	3.34%
2019		0.95%	to	1.75%		117,485		16.35	to	15.00		1,890,669		2.34%		11.42%	to	10.52%
Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class I (SAM)
2023		0.95%	to	2.35%		12,762,000		12.39	to	8.07		149,211,495		4.65%		3.77%	to	2.29%
2022		0.95%	to	2.60%		14,272,558		11.94	to	7.44		160,596,907		1.37%		0.34%	to	-1.33%
2021		0.95%	to	2.60%		11,240,377		11.90	to	7.54		126,515,334		0.00%		-0.92%	to	-2.60%
2020		0.95%	to	2.60%		11,874,602		12.01	to	7.74		135,446,851		0.23%		-0.01%	to	-2.36%
2019		0.95%	to	2.60%		11,955,053		12.10	to	7.92		136,512,897		1.36%		0.81%	to	-0.86%
Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Company Fund: Class I (SCF)
2023		0.95%	to	2.20%		866,239		71.51	to	54.10		66,430,801		0.49%		12.91%	to	11.49%
2022		0.95%	to	2.20%		985,202		63.34	to	48.52		66,875,806		0.44%		-19.54%	to	-20.55%
2021		0.95%	to	2.20%		1,065,106		78.72	to	61.07		89,879,594		0.00%		29.60%	to	27.96%
2020		0.95%	to	2.20%		1,188,365		60.74	to	47.73		77,363,089		0.02%		21.52%	to	19.99%
2019		0.95%	to	2.20%		1,336,070		49.98	to	39.78		71,743,724		0.07%		24.45%	to	22.88%
Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Company Fund: Class II (SCF2)
2023		1.50%	to	2.60%		20,938		42.15	to	33.05		813,791		0.35%		11.99%	to	10.74%
2022		1.50%	to	2.60%		21,423		37.64	to	29.84		746,576		0.29%		-20.20%	to	-21.09%
2021		1.50%	to	2.60%		22,556		47.17	to	37.82		989,299		0.00%		28.55%	to	27.12%
2020		1.50%	to	2.60%		29,447		36.69	to	29.75		1,008,409		0.02%		20.52%	to	19.18%
2019		1.50%	to	2.60%		30,782		30.44	to	24.96		877,797		0.00%		23.47%	to	22.09%
Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Growth Fund: Class I (SCGF)
2023		0.95%	to	2.20%		388,099		46.71	to	34.15		17,320,056		0.00%		16.37%	to	14.89%
2022		0.95%	to	2.20%		430,055		40.14	to	29.72		16,529,431		0.00%		-31.03%	to	-31.90%
2021		0.95%	to	2.20%		465,915		58.20	to	43.64		25,985,962		0.00%		9.25%	to	7.88%
2020		0.95%	to	2.20%		527,266		53.27	to	40.46		26,969,410		0.00%		39.55%	to	37.79%
2019		0.95%	to	2.20%		614,712		38.17	to	29.36		22,555,236		0.00%		34.42%	to	32.73%
Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Growth Fund: Class II (SCGF2)
2023		1.50%	to	2.20%		7,160		28.75	to	24.63		192,376		0.00%		15.41%	to	14.59%
2022		1.50%	to	2.60%		7,895		24.91	to	19.75		183,896		0.00%		-31.55%	to	-32.31%
2021		1.50%	to	2.60%		8,671		36.39	to	29.18		296,188		0.00%		8.39%	to	7.18%
2020		1.50%	to	2.60%		9,227		33.57	to	27.22		291,940		0.00%		38.41%	to	36.86%
2019		1.50%	to	2.60%		14,853		24.26	to	19.89		330,057		0.00%		33.35%	to	31.86%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Value Fund: Class I (SCVF)
2023		0.95%	to	2.15%		792,897		68.96	to	50.26		60,661,937		0.42%		16.34%	to	14.93%
2022		0.95%	to	2.15%		858,196		59.28	to	43.73		56,518,677		0.33%		-13.74%	to	-14.78%
2021		0.95%	to	2.20%		945,980		68.72	to	50.73		72,396,256		0.00%		30.80%	to	29.14%
2020		0.95%	to	2.20%		1,056,848		52.54	to	39.28		62,074,065		0.07%		4.15%	to	2.84%
2019		0.95%	to	2.20%		1,180,588		50.45	to	38.20		66,691,422		1.07%		17.87%	to	16.38%
Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Value Fund: Class II (SCVF2)
2023		1.50%	to	2.60%		9,344		34.28	to	26.88		288,858		0.20%		15.40%	to	14.12%
2022		1.50%	to	2.60%		12,004		29.71	to	23.55		321,715		0.11%		-14.46%	to	-15.42%
2021		1.50%	to	2.60%		14,579		34.73	to	27.85		461,453		0.00%		29.61%	to	28.16%
2020		1.50%	to	2.60%		18,174		26.80	to	21.73		450,679		0.00%		3.38%	to	2.22%
2019		1.50%	to	2.60%		21,703		25.92	to	21.26		524,688		0.87%		16.91%	to	15.61%
Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)
2023		0.95%	to	2.20%		1,942,872		43.87	to	25.03		83,210,157		1.30%		7.25%	to	5.90%
2022		0.95%	to	2.20%		2,172,678		40.91	to	23.64		86,808,048		1.14%		-9.31%	to	-10.45%
2021		0.95%	to	2.20%		2,410,217		40.84	to	26.40		106,253,890		0.75%		20.74%	to	19.20%
2020		0.95%	to	2.20%		2,786,736		37.36	to	22.14		101,912,372		1.12%		9.31%	to	7.93%
2019		0.95%	to	2.20%		3,123,713		34.18	to	20.52		104,601,831		1.18%		28.08%	to	26.46%
Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class II (TRF2)
2023		1.50%	to	2.60%		7,210		34.01	to	26.67		225,606		1.12%		6.42%	to	5.23%
2022		1.50%	to	2.60%		7,318		31.96	to	25.34		215,825		0.77%		-10.03%	to	-11.03%
2021		1.50%	to	2.60%		10,285		35.53	to	28.49		333,590		0.51%		19.75%	to	18.42%
2020		1.50%	to	2.60%		13,569		29.67	to	24.06		367,269		0.93%		8.40%	to	7.19%
2019		1.60%	to	2.60%		13,365		26.88	to	22.44		332,866		0.89%		26.96%	to	25.67%
Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)
2023		1.60%	to	1.75%		3,233		57.63	to	39.82		133,608		0.00%		16.26%	to	16.09%
2022		1.60%	to	1.75%		3,315		49.57	to	34.30		119,006		0.00%		-29.87%	to	-29.98%
2021		1.60%	to	1.75%		5,749		70.69	to	48.99		296,302		0.00%		11.18%	to	11.01%
2020		1.60%	to	1.75%		5,897		63.58	to	44.13		275,070		0.00%		37.74%	to	37.53%
2019		1.60%	to	1.75%		6,127		46.16	to	32.08		208,939		0.00%		30.62%	to	30.42%
Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class S Shares (AMMCGS)
2023		0.95%	to	2.20%		49,762		19.43	to	17.01		917,829		0.00%		16.30%	to	15.38%
2022		0.95%	to	2.20%		42,415		16.14	to	14.74		667,824		0.00%		-29.50%	to	-30.39%
2021		0.95%	to	2.20%		63,736		22.90	to	21.18		1,431,677		0.00%		11.65%	to	10.24%
2020		0.95%	to	2.20%		78,069		20.51	to	19.21		1,575,618		0.00%		38.38%	to	36.64%
2019		0.95%	to	2.60%		82,842		14.82	to	13.82		1,206,237		0.00%		31.22%	to	29.04%
Neuberger Berman Advisers Management Trust - Sustainable Equity Portfolio: Class I Shares (AMSRS)
2023		0.95%	to	1.80%		129,390		46.28	to	39.06		5,820,921		0.34%		25.70%	to	24.62%
2022		0.95%	to	1.80%		144,334		36.81	to	31.35		5,175,745		0.44%		-19.23%	to	-19.92%
2021		0.95%	to	1.80%		153,577		45.58	to	39.14		6,826,693		0.38%		22.30%	to	21.26%
2020		0.95%	to	1.80%		198,854		37.27	to	32.28		7,018,168		0.58%		18.43%	to	17.41%
2019		0.95%	to	1.90%		262,960		31.47	to	27.06		7,889,866		0.42%		24.69%	to	23.49%
Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)
2023		0.95%	to	2.20%		719,939		11.39	to	8.76		7,862,735		4.38%		4.90%	to	3.58%
2022		0.95%	to	2.20%		825,113		10.85	to	8.46		8,600,095		3.70%		-6.08%	to	-7.27%
2021		0.95%	to	2.20%		892,456		11.56	to	9.12		9,942,525		2.68%		-0.22%	to	-1.48%
2020		0.95%	to	2.20%		837,201		11.58	to	9.25		9,364,663		2.33%		2.47%	to	1.18%
2019		0.95%	to	2.20%		923,764		11.30	to	9.15		10,106,530		1.95%		2.70%	to	1.41%
PIMCO Variable Insurance Trust - All Asset Portfolio: Advisor Class (PMVAAD)
2023		0.95%	to	1.45%		179,879		14.12	to	13.31		2,500,252		2.83%		6.99%	to	6.46%
2022		0.95%	to	1.65%		189,290		13.20	to	12.23		2,460,915		7.50%		-12.70%	to	-13.32%
2021		0.95%	to	1.65%		205,097		15.12	to	14.11		3,059,421		11.02%		14.94%	to	14.13%
2020		0.95%	to	1.55%		222,352		13.15	to	12.48		2,891,604		4.79%		6.88%	to	6.24%
2019		0.95%	to	1.60%		300,408		12.30	to	11.70		3,656,075		2.79%		10.68%	to	9.96%
PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Advisor Class (PMVEBD)
2023		0.95%	to	1.75%		53,794		11.46	to	10.60		608,664		5.61%		9.96%	to	9.07%
2022		0.95%	to	1.75%		67,863		10.42	to	9.71		699,076		4.71%		-16.60%	to	-17.27%
2021		0.95%	to	1.75%		79,721		12.50	to	11.74		984,022		4.39%		-3.57%	to	-4.35%
2020		0.95%	to	1.75%		91,169		12.96	to	12.28		1,166,995		4.51%		5.57%	to	4.71%
2019		0.95%	to	1.75%		109,559		12.28	to	11.72		1,332,135		4.33%		13.56%	to	12.65%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Advisor Class (PMVFAD)
2023		0.95%	to	1.50%		64,856		10.62	to	9.79		672,933		2.42%		5.11%	to	4.52%
2022		0.95%	to	1.50%		71,045		10.10	to	9.36		701,527		1.44%		-19.83%	to	-20.28%
2021		0.95%	to	1.60%		102,808		12.60	to	11.59		1,266,911		5.66%		-8.49%	to	-9.09%
2020		0.95%	to	1.60%		110,796		13.77	to	12.75		1,496,718		5.32%		9.61%	to	8.89%
2019		0.95%	to	1.70%		118,837		12.56	to	11.59		1,461,108		1.91%		5.90%	to	5.10%
PIMCO Variable Insurance Trust - Income Portfolio: Advisor Class (PMVIV)
2023		0.95%	to	1.15%		24,523		10.54	to	10.53		258,450		3.29%		5.40%	to	5.26%	****
PIMCO Variable Insurance Trust - Low Duration Portfolio: Advisor Class (PMVLAD)
2023		0.95%	to	2.05%		1,190,534		11.68	to	9.91		13,500,643		3.50%		3.88%	to	2.73%
2022		0.95%	to	2.05%		1,455,224		11.24	to	9.65		15,929,053		1.57%		-6.74%	to	-7.77%
2021		0.95%	to	2.05%		1,547,082		12.05	to	10.46		18,188,455		0.42%		-1.97%	to	-3.05%
2020		0.95%	to	2.05%		1,851,307		12.30	to	10.79		22,237,291		1.05%		1.91%	to	0.78%
2019		0.95%	to	2.05%		1,515,634		12.06	to	10.71		17,914,209		2.67%		2.94%	to	1.79%
PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)
2023		0.95%	to	1.25%		36,435		15.67	to	14.85		556,805		2.95%		2.69%	to	2.34%
2022		0.95%	to	1.25%		42,464		15.26	to	14.51		632,488		6.95%		-12.70%	to	-13.01%
2021		0.95%	to	1.25%		38,595		17.48	to	16.68		659,373		4.92%		4.55%	to	4.32%
2020		0.95%	to	1.25%		37,482		16.72	to	15.99		612,914		1.43%		0.11%	to	0.10%
2019		0.95%	to	1.25%		37,055		15.11	to	14.50		548,688		69.79%		0.07%
PIMCO Variable Insurance Trust - Short-Term Portfolio: Advisor Class (PMVSTA)
2023		0.95%	to	1.80%		405,311		10.88	to	10.18		4,349,934		4.38%		4.80%	to	3.91%
2022		0.95%	to	1.80%		429,733		10.38	to	9.80		4,410,761		1.49%		-1.21%	to	-2.06%
2021		0.95%	to	1.80%		397,752		10.50	to	10.00		4,138,681		1.02%		-1.10%	to	-1.95%
2020		0.95%	to	1.80%		388,304		10.62	to	10.20		4,090,765		1.13%		1.17%	to	0.30%
2019		0.95%	to	1.80%		386,679		10.50	to	10.17		4,034,738		2.39%		1.72%	to	0.85%
PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)
2020		0.95%	to	1.30%		69,089		18.74	to	17.80		1,269,169		0.00%		0.08%	to	0.07%
2019		0.95%	to	1.30%		51,913		17.41	to	16.60		885,286		0.00%		0.07%
PIMCO Variable Insurance Trust - Total Return Portfolio: Advisor Class (PMVTRD)
2020		0.95%	to	1.75%		941,525		12.95	to	11.97		12,045,041		2.01%		7.50%	to	6.63%
2019		0.95%	to	1.75%		960,670		12.04	to	11.23		11,442,868		2.90%		7.22%	to	6.35%
Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)
2023		0.95%	to	1.60%		136,614		17.93	to	17.50		2,444,050		1.96%		14.57%	to	13.82%
2022		0.95%	to	1.40%		113,363		15.65	to	15.46		1,772,043		1.24%		-4.05%	to	-4.48%
2021		0.95%	to	1.55%		58,227		16.31	to	16.14		949,929		0.81%		26.09%	to	25.33%
2020		0.95%	to	1.15%		1,611		12.93	to	12.92		20,822		0.72%		29.33%	to	29.16%
Putnam Variable Trust - Putnam VT International Value Fund: Class IB (PVIGIB)
2023		0.95%	to	1.40%		45,453		16.72	to	16.45		759,210		1.33%		17.56%	to	17.02%
2022		0.95%	to	1.40%		51,791		14.22	to	14.05		736,190		1.34%		-7.69%	to	-8.11%
2021		0.95%	to	1.25%		21,997		15.41	to	15.33		338,509		1.18%		13.85%	to	13.50%
2020		0.95%	to	1.15%		3,042		13.54	to	13.52		41,133		0.00%		35.36%	to	35.17%	****
Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)
2023		1.10%	to	1.20%		935		11.58	to	11.57		10,818		0.00%		15.76%	to	15.68%	****
Putnam Variable Trust - Putnam VT International Equity Fund: Class IB (PVTIGB)
2023		0.95%	to	1.40%		39,743		14.56	to	14.06		570,152		0.04%		17.38%	to	16.85%
2022		0.95%	to	1.35%		19,336		12.40	to	12.07		237,224		1.52%		-15.58%	to	-15.92%
2021		0.95%	to	1.35%		7,686		14.69	to	14.36		112,011		1.37%		7.79%	to	7.35%
2020		0.95%	to	1.35%		8,080		13.63	to	13.37		109,956		1.54%		11.03%	to	10.58%
2019		0.95%	to	1.35%		1,550		12.27	to	12.09		18,961		1.41%		23.96%	to	23.46%
Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)
2023		0.95%	to	1.25%		12,774		22.23	to	21.08		275,179		0.00%		17.62%	to	17.31%
2022		0.95%	to	1.25%		13,344		18.90	to	17.97		244,633		0.00%		-23.17%	to	-23.40%
2021		0.95%	to	1.25%		16,609		24.60	to	23.46		396,966		0.00%		28.80%	to	28.34%
2020		0.95%	to	1.25%		17,494		19.10	to	18.28		325,436		0.00%		0.23%	to	0.22%
2019		0.95%	to	1.25%		21,828		15.58	to	14.95		331,778		0.00%		0.18%

NATIONWIDE VARIABLE ACCOUNT-9 NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2023

	Contract  Expense Rate*				Units		Unit  Fair Value				Contract  Owners’ Equity		Investment  Income Ratio**		Total  Return***
T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)
2023		0.95%	to	2.60%		451,459		57.83	to	45.98		25,552,644		0.00%		1.71%	to	0.02%
2022		0.95%	to	2.60%		535,695		56.86	to	45.97		29,847,528		0.00%		-13.52%	to	-14.95%
2021		0.95%	to	2.60%		631,492		65.74	to	54.05		40,765,240		0.00%		11.76%	to	9.90%
2020		0.95%	to	2.60%		701,633		58.83	to	49.18		40,579,930		0.00%		28.04%	to	25.91%
2019		0.95%	to	2.60%		791,675		45.94	to	39.06		35,809,330		0.00%		27.41%	to	25.29%
T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)
2023		0.95%	to	1.30%		27,508		11.18	to	11.15		307,129		0.00%		11.79%	to	11.53%	****
VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)
2023		0.95%	to	2.25%		188,677		28.23	to	17.84		6,736,011		3.43%		8.73%	to	7.31%
2022		0.95%	to	2.25%		231,588		25.97	to	16.63		7,490,413		0.28%		-25.09%	to	-26.07%
2021		0.95%	to	2.25%		265,493		34.66	to	22.49		11,536,217		0.90%		-12.72%	to	-13.85%
2020		0.95%	to	2.25%		292,090		39.71	to	26.11		14,347,464		2.03%		16.14%	to	14.61%
2019		0.95%	to	2.25%		321,418		34.19	to	22.78		13,804,224		0.49%		29.36%	to	27.66%
VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)
2023		0.95%	to	2.60%		129,370		26.49	to	23.85		3,980,973		2.80%		-4.50%	to	-6.09%
2022		0.95%	to	2.60%		141,524		27.74	to	25.40		4,575,665		1.62%		7.37%	to	5.58%
2021		0.95%	to	2.60%		159,196		25.84	to	24.06		4,797,281		0.43%		17.78%	to	15.83%
2020		0.95%	to	2.60%		186,575		21.94	to	20.77		4,739,713		0.93%		17.98%	to	16.02%
2019		0.95%	to	2.60%		230,192		18.59	to	17.90		4,884,028		0.00%		10.81%	to	8.96%
VanEck VIP Trust - VanEck VIP Global Resources Fund: Class S (VWHAS)
2023		0.95%	to	2.20%		407,416		8.45	to	7.29		3,384,819		2.39%		-4.75%	to	-5.95%
2022		0.95%	to	2.20%		724,806		8.88	to	7.75		6,327,075		1.41%		7.10%	to	5.75%
2021		0.95%	to	2.20%		611,414		8.29	to	7.33		4,993,014		0.31%		17.55%	to	16.07%
2020		0.95%	to	2.20%		576,458		7.05	to	6.31		4,013,640		0.79%		17.70%	to	16.21%
2019		0.95%	to	2.20%		646,381		5.99	to	5.43		3,833,804		0.00%		10.49%	to	9.09%
Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)
2023		0.95%	to	1.40%		31,412		12.32	to	12.06		383,854		1.54%		9.98%	to	9.48%
2022		0.95%	to	1.40%		40,451		11.20	to	11.02		450,466		0.81%		-26.79%	to	-27.12%
2021		0.95%	to	1.40%		71,136		15.30	to	15.12		1,085,199		1.06%		45.02%	to	44.37%
2020		0.95%	to	1.15%		13,816		10.55	to	10.52		145,674		1.25%		-2.48%	to	-2.68%
2019		0.95%	to	1.20%		9,856		10.82	to	10.80		106,605		3.14%		8.20%	to	8.02%

* This represents the annual contract expense rate or range of annual contract expense rates of the variable account at the period end indicated and includes only those expenses that are charged through a reduction in the unit values. Excluded are expenses of the underlying mutual funds and charges made directly to contract owner accounts through the redemption of units.

** This represents the ratio of dividends for the period indicated, excluding distributions of capital gains, received by the subaccount from the underlying mutual fund, net of management fees assessed by the fund manager, divided by monthly average net assets (excluding months where net assets are zero). The investment income ratio for subaccounts initially funded during the period presented has not been annualized. The ratios exclude those expenses that result in direct reductions to the contract owner accounts through reductions in unit values. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the underlying fund in which the subaccounts invest.

*** This represents the total return or range of minimum and maximum total returns for the period indicated, including changes in the value of the underlying mutual fund, which reflects the reduction of unit values for expenses assessed. The total returns do not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return is not annualized if the underlying mutual fund option was initially added and funded during the period presented. Minimum and maximum ranges are not shown for underlying mutual fund options for which a single contract expense rate (product option) exists. In such cases, the total return presented is representative of all units issued and outstanding at period end.

**** Subaccounts denoted indicate the underlying mutual fund option was initially added and funded during the period presented.

NATIONWIDE LIFE INSURANCE COMPANY

FOR THE YEAR ENDED DECEMBER 31, 2023

TABLE OF CONTENTS

	Page
Independent Auditors’ Report		F-1
Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus		F-4
Statutory Statements of Operations		F-5
Statutory Statements of Changes in Capital and Surplus		F-6
Statutory Statements of Cash Flow		F-7
Notes to Statutory Financial Statements		F-8
Schedule I – Summary of Investments – Other Than Investments in Related Parties		F-47
Schedule III – Supplementary Insurance Information		F-48
Schedule IV – Reinsurance		F-49
Schedule V – Valuation and Qualifying Accounts		F-50

Independent Auditors’ Report

Audit Committee of the Board of Directors

Nationwide Life Insurance Company:

Opinions

We have audited the financial statements of Nationwide Life Insurance Company (the Company), which comprise the statutory statements of admitted assets, liabilities, capital and surplus as of December 31, 2023 and 2022, and the related statutory statements of operations, changes in capital and surplus, and cash flow for each of the years in the three-year period ended December 31, 2023, and the related notes to the statutory financial statements.

Unmodified Opinion on Statutory Basis of Accounting

In our opinion, the accompanying financial statements present fairly, in all material respects, the admitted assets, liabilities, capital and surplus of the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flow for each of the years in the three-year period ended December 31, 2023, in accordance with accounting practices prescribed or permitted by the Ohio Department of Insurance (Department) described in Note 2.

Adverse Opinion on U.S. Generally Accepted Accounting Principles

In our opinion, because of the significance of the matter discussed in the Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles section of our report, the statutory financial statements do not present fairly, in accordance with U.S. generally accepted accounting principles, the financial position of the Company as of December 31, 2023 and 2022, or the results of its operations or its cash flows for each of the years in the three-year period ended December 31, 2023.

Basis for Opinions

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles

As described in Note 2 to the financial statements, the financial statements are prepared by the Company using accounting practices prescribed or permitted by the Department, which is a basis of accounting other than U.S. generally accepted accounting principles. Accordingly, the financial statements are not intended to be presented in accordance with U.S. generally accepted accounting principles. The effects on the financial statements of the variances between the statutory accounting practices and U.S. generally accepted accounting principles are also described in Note 2.

Emphasis of Matter

As discussed in Note 2 to the financial statements, the Company’s subsidiary received permission from the Department in 2023 to account for an excess of loss reinsurance recoverable as an admitted asset. Under prescribed statutory accounting practices, the excess of loss reinsurance recoverable would not be an admitted asset. As of December 31, 2023, that permitted accounting practice increased statutory surplus over what it would have been had that prescribed accounting practice been followed. Our opinions are not modified with respect to this matter.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting practices prescribed or permitted by the Department. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year after the date that the financial statements are issued.

Auditors’ Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:

• Exercise professional judgment and maintain professional skepticism throughout the audit.

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. Accordingly, no such opinion is expressed.

• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time.

F-2

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

Supplementary Information

Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The supplementary information included in the Schedule I Summary of Investments - Other Than Investments in Related Parties, Schedule III Supplementary Insurance Information, Schedule IV Reinsurance, and Schedule V Valuation and Qualifying Accounts is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Securities and Exchange Commission’s Regulation S-X. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audits of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole.

/s/ KPMG LLP

Columbus, Ohio

March 20, 2024

F-3

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus

	December 31,
(in millions, except share amounts)	2023			2022
Admitted assets
Invested assets
Bonds	$	43,867		$	40,208
Stocks		3,714			3,700
Mortgage loans, net of allowance		9,144			8,363
Policy loans		969			933
Derivative assets		113			143
Cash, cash equivalents and short-term investments		1,555			1,621
Securities lending collateral assets		359			232
Other invested assets		2,198			1,848
Total invested assets	$	61,919		$	57,048
Accrued investment income		965			585
Deferred federal income tax assets, net		632			589
Other assets		404			378
Separate account assets		113,270			102,808
Total admitted assets	$	177,190		$	161,408
Liabilities, capital and surplus
Liabilities
Future policy benefits and claims	$	49,373		$	45,482
Policyholders’ dividend accumulation		380			398
Asset valuation reserve		841			707
Payable for securities		512			323
Securities lending payable		359			232
Funds held under coinsurance		1,323			1,608
Other liabilities		1,447			1,253
Accrued transfers from separate accounts		(1,548	)		(1,598	)
Separate account liabilities		113,270			102,808
Total liabilities	$	165,957		$	151,213
Capital and surplus
Capital shares ($1 par value; authorized - 5,000,000 shares,issued and outstanding - 3,814,779 shares)	$	4		$	4
Surplus notes		1,100			1,100
Special surplus funds		93			-
Additional paid-in capital		2,443			2,308
Unassigned surplus		7,593			6,783
Total capital and surplus	$	11,233		$	10,195
Total liabilities, capital and surplus	$	177,190		$	161,408

See accompanying notes to statutory financial statements.

F-4

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Statutory Statements of Operations

	Years ended December 31,
(in millions)	2023			2022			2021
Revenues
Premiums and annuity considerations	$	14,670		$	14,535		$	12,664
Net investment income		3,136			2,019			2,231
Other revenues		2,389			2,346			2,455
Total revenues	$	20,195		$	18,900		$	17,350
Benefits and expenses
Benefits to policyholders and beneficiaries	$	17,416		$	15,963		$	16,884
Increase in reserves for future policy benefits and claims		3,747			2,525			807
Net transfers from separate accounts		(3,742	)		(1,635	)		(3,002	)
Commissions		766			810			858
Reserve adjustment on reinsurance assumed		(153	)		(161	)		(151	)
Other expenses		702			564			469
Total benefits and expenses	$	18,736		$	18,066		$	15,865
Income before federal income tax expense (benefit) and net realized capital (losses) gains on investments	$	1,459		$	834		$	1,485
Federal income tax expense (benefit)		108			100			(9	)
Income before net realized capital (losses) gains on investments	$	1,351		$	734		$	1,494
Net realized capital (losses) gains on investments, net of federal income tax (benefit) expense of $(4), $3 and $59 in 2023, 2022 and 2021, respectively, and excluding $(30), $(103) and $15 of net realized capital (losses) gains transferred to the interest maintenance reserve in 2023, 2022 and 2021, respectively		(402	)		240			(683	)
Net income	$	949		$	974		$	811

See accompanying notes to statutory financial statements.

F-5

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Statutory Statements of Changes in Capital and Surplus

(in millions)	Capital shares		Surplus notes		Special surplus funds		Additional paid-in capital		Unassigned surplus			Capital and surplus
Balance as of December 31, 2020	$	4	$	1,100	$	-	$	1,998	$	6,003		$	9,105
Change in reserve on account of change in valuation basis		-		-		-		-		2			2
Cumulative effect of change in accounting principle		-		-		-		-		6			6
Balance as of January 1, 2021	$	4	$	1,100	$	-	$	1,998	$	6,011		$	9,113
Net income		-		-		-		-		811			811
Change in asset valuation reserve		-		-		-		-		(144	)		(144	)
Change in deferred income taxes		-		-		-		-		50			50
Change in net unrealized capital gains and losses, net of tax expense of $30		-		-		-		-		(142	)		(142	)
Change in nonadmitted assets		-		-		-		-		(47	)		(47	)
Dividends paid to Nationwide Financial Services, Inc.		-		-		-		-		(550	)		(550	)
Balance as of December 31, 2021	$	4	$	1,100	$	-	$	1,998	$	5,989		$	9,091
Correction of error (see Note 2)		-		-		-		-		(39	)		(39	)
Balance as of January 1, 2022	$	4	$	1,100	$	-	$	1,998	$	5,950		$	9,052
Net income		-		-		-		-		974			974
Change in asset valuation reserve		-		-		-		-		(97	)		(97	)
Change in deferred income taxes		-		-		-		-		28			28
Change in net unrealized capital gains and losses, net of tax expense of $37		-		-		-		-		(40	)		(40	)
Change in nonadmitted assets		-		-		-		-		(33	)		(33	)
Capital contributions from Nationwide Financial Services, Inc.		-		-		-		310		-			310
Other, net		-		-		-		-		1			1
Balance as of December 31, 2022	$	4	$	1,100	$	-	$	2,308	$	6,783		$	10,195
Net income		-		-		-		-		949			949
Change in asset valuation reserve		-		-		-		-		(103	)		(103	)
Change in deferred income taxes		-		-		-		-		132			132
Change in net unrealized capital gains and losses, net of tax benefit of $37		-		-		-		-		(77	)		(77	)
Change in nonadmitted assets, including admitted disallowed interest maintenance reserve		-		-		93		-		(126	)		(33	)
Capital contributions from Nationwide Financial Services, Inc.		-		-		-		135		-			135
Other, net		-		-		-		-		35			35
Balance as of December 31, 2023	$	4	$	1,100	$	93	$	2,443	$	7,593		$	11,233

See accompanying notes to statutory financial statements.

F-6

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Statutory Statements of Cash Flow

	Years ended December 31,
(in millions)	2023			2022			2021
Cash flows from operating activities:
Premiums collected, net of reinsurance	$	14,675		$	14,545		$	12,661
Net investment income		2,775			2,064			2,404
Other revenue		2,021			3,178			2,367
Policy benefits and claims paid		(17,567	)		(15,962	)		(16,735	)
Commissions, operating expenses and taxes, other than federal income tax paid		(1,268	)		(1,275	)		(1,122	)
Net transfers from separate accounts		3,792			1,658			2,871
Policyholders’ dividends paid		(28	)		(30	)		(36	)
Federal income taxes recovered (paid)		98			(261	)		121
Net cash provided by operating activities	$	4,498		$	3,917		$	2,531
Cash flows from investing activities:
Proceeds from investments sold, matured or repaid:
Bonds	$	2,594		$	3,444		$	6,953
Stocks		46			19			127
Mortgage loans		635			1,139			1,053
Derivative assets		-			431			-
Other invested assets and other		467			641			279
Total investment proceeds	$	3,742		$	5,674		$	8,412
Cost of investments acquired:
Bonds	$	(6,256	)	$	(6,024	)	$	(7,744	)
Stocks		(35	)		(901	)		(538	)
Mortgage loans		(1,370	)		(1,305	)		(1,441	)
Derivative assets		(556	)		-			(589	)
Other invested assets and other		(766	)		(1,057	)		(594	)
Total investments acquired	$	(8,983	)	$	(9,287	)	$	(10,906	)
Net increase in policy loans		(37	)		(19	)		(25	)
Net cash used in investing activities	$	(5,278	)	$	(3,632	)	$	(2,519	)
Cash flows from financing activities and miscellaneous sources:
Capital contributions from Nationwide Financial Services, Inc.	$	135		$	310		$	-
Dividend paid to Nationwide Financials Services, Inc.		-			-			(550	)
Net change in deposits on deposit-type contract funds and other insurance liabilities		270			391			517
Other cash provided (used)		309			(1	)		196
Net cash provided by financing activities and miscellaneous	$	714		$	700		$	163
Net (decrease) increase in cash, cash equivalents and short-term investments	$	(66	)	$	985		$	175
Cash, cash equivalents and short-term investments at beginning of year		1,621			636			461
Cash, cash equivalents and short-term investments at end of year	$	1,555		$	1,621		$	636
Supplemental disclosure of non-cash activities:
Exchange of bond investments	$	385		$	349		$	277
Intercompany transfer of securities from merger	$	203		$	-		$	-

See accompanying notes to statutory financial statements.

F-7

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

(1) Nature of Operations

Nationwide Life Insurance Company (“NLIC” or “the Company”) is an Ohio domiciled stock life insurance company. The Company is a member of the Nationwide group of companies (“Nationwide”), which is comprised of Nationwide Mutual Insurance Company (“NMIC”) and all of its subsidiaries and affiliates.

All of the outstanding shares of NLIC’s common stock are owned by Nationwide Financial Services, Inc. (“NFS”), a holding company formed by Nationwide Corporation, a wholly-owned subsidiary of NMIC.

The Company is a leading provider of long-term savings and retirement products in the United States of America (“U.S.”). The Company develops and sells a wide range of products and services, which include life insurance, fixed and variable individual annuities, private and public sector group retirement plans, investment advisory services, pension risk transfer (“PRT”) contracts and other investment products. The Company is licensed to conduct business in all fifty states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands.

The Company sells its products through a diverse distribution network. Unaffiliated entities that sell, recommend or direct the purchase of the Company’s products to their own customer bases include independent broker-dealers, financial institutions, wirehouses and regional firms, pension plan administrators, life insurance agencies, life insurance specialists and registered investment advisors. Affiliates that market products directly to a customer base include Nationwide Retirement Solutions, Inc., Nationwide Securities, LLC and Nationwide Financial General Agency, Inc. The Company believes its broad range of competitive products, strong distributor relationships and diverse distribution network position it to compete effectively under various economic conditions.

Wholly-owned subsidiaries of NLIC as of December 31, 2023 include Nationwide Life and Annuity Insurance Company (“NLAIC”) and its wholly-owned subsidiaries, Olentangy Reinsurance, LLC (“Olentangy”) and Nationwide SBL, LLC (“NWSBL”), Jefferson National Life Insurance Company (“JNL”) and its wholly-owned subsidiary, Jefferson National Life Insurance Company of New York (“JNLNY”), Eagle Captive Reinsurance, LLC (“Eagle”), Nationwide Investment Services Corporation (“NISC”) and Nationwide Investment Advisors, LLC (“NIA”). NLAIC primarily offers individual annuity contracts including fixed annuity contracts, group annuity contracts including PRT contracts, universal life insurance, variable universal life insurance, term life insurance and corporate-owned life insurance on a non-participating basis. Olentangy is a dormant Vermont domiciled special purpose financial insurance company and nonadmitted subsidiary. NWSBL is an Ohio limited liability company and offers a securities-based lending product and is a nonadmitted subsidiary. JNL and JNLNY primarily offer individual deferred fixed and variable annuity products. Eagle is an Ohio domiciled special purpose financial captive insurance company. NISC is a registered broker-dealer. NIA is a registered investment advisor and nonadmitted subsidiary.

The Company is subject to regulation by the insurance departments of states in which it is domiciled and/or transacts business and undergoes periodic examinations by those departments.

As of December 31, 2023 and 2022, the Company did not have a significant concentration of financial instruments in a single investee, industry or geographic region. Also, the Company did not have a concentration of business transactions with a particular customer, lender, distribution source, market or geographic region in which a single event could cause a severe impact to the Company’s financial position after considering insurance risk that has been transferred to external reinsurers.

(2) Summary of Significant Accounting Policies

Use of Estimates

The preparation of the statutory financial statements requires the Company to make estimates and assumptions that affect the amounts reported in the statutory financial statements and accompanying notes. Significant estimates include certain investment and derivative valuations and future policy benefits and claims. Actual results could differ significantly from those estimates.

Basis of Presentation

Effective October 1, 2023, Jefferson National Financial Corporation (“JNFC”), a holding company and wholly-owned subsidiary of the Company, completed a merger agreement with the Company. Pursuant to the merger agreement, which was deemed a statutory merger, the operations of JNFC were merged with and into the Company, with the Company continuing as the surviving corporation. Concurrently, JNL, a wholly-owned subsidiary of JNFC prior to the merger, became a wholly-owned subsidiary of the Company. There was not a material impact on the Company’s surplus as a result of the merger.

F-8

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Effective January 1, 2022, Harleysville Life Insurance Company (“HLIC”), an Ohio domiciled stock life insurance company and subsidiary of NMIC that offered universal and traditional life insurance, disability income insurance and fixed annuity contracts on a non-participating basis, completed a merger agreement with NLAIC. Pursuant to the merger agreement, which was deemed a statutory merger, the operations of HLIC were merged with and into NLAIC, with NLAIC continuing as the surviving entity. All shares of HLIC were cancelled and the outstanding surplus balance was merged into NLAIC’s additional paid-in capital and unassigned surplus. There was not a material impact on the Company’s surplus as a result of the merger.

The statutory financial statements of the Company are presented on the basis of accounting practices prescribed or permitted by the Ohio Department of Insurance (“the Department”). Prescribed statutory accounting practices are those practices incorporated directly or by reference in state laws, regulations and general administrative rules applicable to all insurance enterprises domiciled in a particular state. Permitted statutory accounting practices include practices not prescribed by the domiciliary state but allowed by the domiciliary state regulatory authority.

NLIC and NLAIC have elected to apply a prescribed practice promulgated under Ohio Administrative Code Section 3901-1-67 (“OAC 3901-1-67”) to its derivative instruments hedging indexed products and indexed annuity reserve liabilities in order to better align the measurement of indexed product reserves and the derivatives that hedge them. Under OAC 3901-1-67, derivative instruments are carried at amortized cost with the initial hedge cost amortized over the term and asset payoffs realized at the end of the term being reported through net investment income, rather than the derivative instruments being carried at fair value with asset payoffs realized over the term through net realized capital gains and losses. Additionally, the cash surrender value reserves for indexed annuity products only reflect index interest credits at the end of the crediting term as compared to partial index interest credits accumulating throughout the crediting term in increase in reserves for future policy benefits and claims.

Eagle applies one prescribed practice with multiple applications as provided under the State of Ohio’s captive law, which values assumed guaranteed minimum death benefits (“GMDB”) and guaranteed lifetime withdrawal benefits (“GLWB”) risks on variable annuity contracts from NLIC and GLWB risks on fixed indexed annuity contracts from NLIC and NLAIC using an alternative reserving basis from the Statutory Accounting Principles detailed within the National Association of Insurance Commissioners (“NAIC”) Accounting Practices and Procedures manual (“NAIC SAP”) pursuant to Ohio Revised Code Chapter 3964 and approved by the Department.

Effective October 1, 2023, Eagle was granted a permitted practice from the Department, allowing Eagle to carry a reinsurance recoverable asset under an excess of loss reinsurance agreement with a third-party reinsurer as an admitted asset.

Prior to October 1, 2023, Olentangy was granted a permitted practice from the State of Vermont allowing Olentangy to carry the assets placed into a trust account by Union Hamilton Reinsurance Ltd. on its statutory statements of admitted assets, liabilities and surplus at net admitted asset value for certain universal life and term life insurance policies. Effective October 1, 2023, Olentangy terminated this permitted practice due to NLAIC’s recapture of the reinsurance agreements.

F-9

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

If the prescribed or permitted practices were not applied, the Company’s risk-based capital would continue to be above regulatory action levels. A reconciliation of the Company’s net income between NAIC SAP and prescribed and permitted practices is shown below:

(in millions)	SSAP #		F/S Page		State of domicile		2023			December 31, 2022			2021
Net Income
Statutory Net Income						OH	$	949		$	974		$	811
State Prescribed Practice:
OAC 3901-1-67:
Derivative instruments		86		4		OH		110			(43	)		9
Reserves for indexed annuities		51		4		OH		(75	)		15			(20	)
Tax impact		101		4		OH		(7	)		6			3
NAIC SAP							$	977		$	952		$	803

A reconciliation of the Company’s capital and surplus between NAIC SAP and prescribed and permitted practices is shown below:

			F/S		State of		As of December 31,
(in millions)	SSAP #		Page		domicile		2023			2022
Surplus
Statutory Capital and Surplus						OH	$	11,233		$	10,195
State Prescribed Practice:
OAC 3901-1-67:
Derivative instruments		86		2,4		OH		84			(30	)
Reserves for indexed annuities		51		3,4		OH		(82	)		(7	)
Tax impact		101		2,4		OH		-			8
Subsidiary Valuation - NLAIC		51,86,101		2		OH		89			(232	)
Subsidiary valuation - Eagle		51		2		OH		(228	)		118
State Permitted Practice:
Subsidiary valuation - Eagle		61R		2		OH		(853	)		-
Subsidiary valuation - Olentangy		20		2		VT		-			(67	)
NAIC SAP							$	10,243		$	9,985

Statutory accounting practices vary in some respects from U.S. generally accepted accounting principles (“GAAP”), including the following practices:

Financial Statements

● Statutory financial statements are prepared using language and groupings substantially the same as the annual statements of the Company filed with the NAIC and state regulatory authorities;

● assets must be included in the statutory statements of admitted assets, liabilities, capital and surplus at net admitted asset value and nonadmitted assets are excluded through a charge to capital and surplus;

● an asset valuation reserve (“AVR”) is established in accordance with the NAIC Annual Statement Instructions for Life and Accident and Health Insurance Companies and is reported as a liability, and changes in the AVR are reported directly in capital and surplus;

● an interest maintenance reserve (“IMR”) is established in accordance with the NAIC Annual Statement Instructions for Life and Accident and Health Insurance Companies and is reported as a liability or other asset, and the amortization of the IMR is reported as revenue;

● the expense allowance associated with statutory reserving practices for investment contracts held in the separate accounts is reported in the general account as a negative liability;

● accounting for contingencies requires recording a liability at the midpoint of a range of estimated possible outcomes when no better estimate in the range exists;

● surplus notes are accounted for as a component of capital and surplus;

F-10

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

● costs related to successful policy acquisitions are charged to operations in the year incurred;

● negative cash balances are reported as negative assets;

● certain income and expense items are charged or credited directly to capital and surplus;

● amounts on deposit in internal qualified cash pools are reported as cash equivalents;

● the statutory statements of cash flow are presented on the basis prescribed by the NAIC; and

● the statutory financial statements do not include accumulated other comprehensive income.

Future Policy Benefits and Claims

● Deposits to universal life contracts, investment contracts and limited payment contracts are included in revenue; and

● future policy benefit reserves are based on statutory requirements.

Reinsurance Ceded

● Certain assets and liabilities are reported net of ceded reinsurance balances; and

● provision is made for amounts receivable and outstanding for more than 90 days through a charge to capital and surplus.

Investments

● Investments in bonds are generally stated at amortized cost, except those with an NAIC designation of “6”, which are stated at the lower of amortized cost or fair value;

● investments in preferred stocks are generally stated at amortized cost, except those with an NAIC designation of “4” through “6”, which are stated at the lower of amortized cost or fair value;

● other-than-temporary impairments on bonds, excluding loan-backed and structured securities, are measured based on fair value and are not reversible;

● the proportional amortized cost method is utilized to determine the liquidation value of Low-Income Housing Tax Credit Funds (“Tax Credit Funds”);

● admitted subsidiary, controlled and affiliated entities are not consolidated; rather, those investments are generally carried at audited statutory capital and surplus or GAAP equity, as appropriate, and are recorded as an equity investment in stocks or other invested assets;

● equity in earnings of subsidiary companies is recognized directly in capital and surplus as net unrealized capital gains or losses, while dividends from unconsolidated companies are recorded in operations as net investment income;

● undistributed earnings and valuation adjustments from investments in joint ventures, partnerships and limited liability companies are recognized directly in capital and surplus as net unrealized capital gains or losses; and

● gains on sales of investments between affiliated companies representing economic transactions are deferred at the parent level until the related assets are paid down or an external sale occurs.

Separate Accounts

● Assets and liabilities of guaranteed separate accounts are reported as separate account assets and separate account liabilities, respectively.

Derivative Instruments

● Derivatives used in effective hedging transactions are valued in a manner consistent with the hedged asset or liability;

● with the exception of derivatives applying the prescribed practice under OAC 3901-1-67, unrealized gains and losses on derivatives that are not considered to be effective hedges are charged to capital and surplus;

● interest earned on derivatives is charged to net investment income; and

● embedded derivatives are not separated from the host contract and accounted for separately as a derivative instrument.

F-11

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Goodwill

● Goodwill is limited to 10% of the prior reporting period’s adjusted statutory surplus, with any goodwill in excess of this limitation nonadmitted through a charge to surplus; and

● goodwill is amortized and charged to surplus.

Federal Income Taxes

● Changes in deferred federal income taxes are recognized directly in capital and surplus with limitations on the amount of deferred tax assets that can be reflected as an admitted asset (15% of capital and surplus); and

● uncertain tax positions are subject to a “more likely than not” standard for federal and foreign income tax loss contingencies only.

Nonadmitted Assets

● In addition to the nonadmitted assets described above, certain other assets are nonadmitted and charged directly to capital and surplus. These include prepaid assets, certain software and other receivables outstanding for more than 90 days.

The financial information included herein is prepared and presented in accordance with SAP prescribed or permitted by the Department. Certain differences exist between SAP and GAAP, which are presumed to be material.

Revenues and Benefits

Life insurance premiums are recognized as revenue over the premium paying period of the related policies when due. Annuity considerations are recognized as revenue when received. Health insurance premiums are earned ratably over the terms of the related insurance and reinsurance contracts or policies. Policy benefits and claims that are expensed include interest credited to policy account balances, benefits and claims incurred in the period in excess of related policy reserves and other changes in future policy benefits.

Future Policy Benefits and Claims

Future policy benefits for traditional products are based on statutory mortality and interest requirements without consideration of withdrawals. The principal statutory mortality tables and interest assumptions used on policies in force are the 1958 Commissioner’s Standard Ordinary (“CSO”) table at interest rates of 2.5%, 3.0%, 3.5%, 4.0% and 4.5%, the 1941 CSO table at an interest rate of 2.5%, the 1980 CSO table at interest rates of 4.0%, 4.5%, 5.0% and 5.5%, the 2001 CSO table at an interest rate of 4.0% and 3.5% and the 2017 CSO table at an interest rate of 3.5% and 4.5%. The Company has applied principle-based reserving to all new individual life business. For business subject to principle-based reserving, additional reserves may be held where the deterministic and/or stochastic reserves are in excess of net premium reserves, as defined by Valuation Manual 20, Requirements for Principle-Based Reserves for Life Products (“VM-20”).

Future policy benefits for universal life and variable universal life contracts have been calculated based on participants’ contributions plus interest credited on any funds in the fixed account less applicable contract charges. These policies have been adjusted for possible future surrender charges in accordance with the Commissioner’s Reserve Valuation Method (“CRVM”). For business subject to principle-based reserving, the Company has calculated reserves under VM-20.

Future policy benefits for annuity products have been established based on contract term, interest rates and various contract provisions. Individual deferred annuity contracts issued in 1990 and after have been adjusted for possible future surrender charges in accordance with the Commissioner’s Annuity Reserve Valuation Method (“CARVM”).

Future policy benefits for PRT contracts have been established in accordance with the CRVM. Statutory reserves for PRT business written during or after 2020 are calculated as the present value of future benefit payments, using the prescribed 1994 Group Annuity Mortality (“GAM”) table along with the AA projection mortality improvement scale and prescribed valuation rates as specified in Chapter 22 of the Valuation Manual. For the PRT business written before 2020, the statutory reserves are calculated using prescribed GAM tables and valuation interest rates that vary by issue year, as specified in the Standard Valuation Law.

The Company calculated its reserves for variable annuities using a stochastic reserve, which is floored at the cash surrender value, per Valuation Manual 21, Requirements for Principle-Based Reserves for Variable Annuities.

The aggregate reserves for individual accident and health policies consist of active life reserves, disabled life reserves and unearned premium reserves. The active life reserves for disability income are reserved for on the net level basis, at a 3.0% interest rate, using either the 1964 Commissioner’s Disability Table (for policies issued prior to 1982) or the 1985 Commissioner’s Individual Disability Table A (for policies issued after 1981). The active life reserves for major medical insurance (both scheduled and unscheduled benefits) are based on the benefit ratio method for policies issued after 1981.

F-12

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The active life reserves for accident and health policies are reserved for on the net level basis, at a 3.0% interest rate, using either the 1956 Inter-Company Hospital-Surgical tables, the 1974 Medical Expense tables or the 1959 Accidental Death Benefits table.

The disabled life reserves for accident and health policies are calculated using the 1985 Commissioner’s Individual Disability Table A at a 3.0% interest rate. Unearned premium reserves are based on the actual gross premiums and actual days.

The aggregate reserves for group accident and health and franchise accident and health policies consist of disabled life reserves and unearned premium reserves. Reserves for benefits payable on disabled life claims are based on the 2012 Group Long-Term Disability Valuation Table, at varying interest rates of 2.75% - 6.0%, for group policies and the 1987 Commissioner’s Group Disability Table, at varying interest rates of 2.75% - 10.25%, for franchise policies.

Future policy benefits and claims for group long-term disability policies are the present value (discounted between 2.75% and 6.00%) of amounts not yet due on reported claims and an estimate of amounts to be paid on incurred but unreported claims. Future policy benefits and claims on other group health policies are not discounted.

The Company issues fixed and floating rate funding agreements to the Federal Home Loan Bank of Cincinnati (“FHLB”). The liabilities for such funding agreements are treated as annuities under Ohio law for life insurance companies and recorded in future policy benefits and claims. Refer to Note 9 for additional details.

Separate Accounts

Separate account assets represent contractholders’ funds that have been legally segregated into accounts with specific investment objectives. Separate account assets are primarily recorded at fair value, with the value of separate account liabilities set to equal the fair value of separate account assets. Separate account assets are primarily comprised of public, privately-registered and non-registered mutual funds, whose fair value is primarily based on the funds’ net asset value. Other separate account assets are recorded at fair value based on the methodology that is applicable to the underlying assets. In limited circumstances, other separate account assets are recorded at book value when the policyholder does not participate in the underlying portfolio experience.

Separate account liabilities, in conjunction with accrued transfers from separate accounts, represent contractholders’ funds adjusted for possible future surrender charges in accordance with the CARVM and the CRVM, respectively. The difference between full account value and CARVM/CRVM is reflected in accrued transfers to/from separate accounts, as prescribed by the NAIC, in the statutory statements of admitted assets, liabilities, capital and surplus. The annual change in the difference between full account value and CARVM/CRVM and its applicable federal income tax is reflected in the statutory statements of operations as part of the net transfers to/from separate accounts and federal income tax, respectively.

Retained Assets

The Company does not retain beneficiary assets. During a death benefit claim, the death benefit settlement method is payment to the beneficiary in the form of a check or electronic funds transfer.

Investments

Bonds and stocks of unaffiliated companies. Bonds are generally stated at amortized cost, except those with an NAIC designation of “6”, which are stated at the lower of amortized cost or fair value. Preferred stocks are generally stated at amortized cost, except those with an NAIC designation of “4” through “6”, which are stated at the lower of amortized cost or fair value. Common stocks are stated at fair value. Changes in the fair value of bonds and stocks stated at fair value are charged to capital and surplus.

Loan-backed and structured securities, which are included in bonds in the statutory financial statements, are stated in a manner consistent with the bond guidelines, but with additional consideration given to the special valuation rules implemented by the NAIC applicable to residential mortgage-backed securities that are not backed by U.S. government agencies, commercial mortgage-backed securities and certain other structured securities. Under these guidelines, an initial and adjusted NAIC designation is determined for each security. The initial NAIC designation, which takes into consideration the security’s amortized cost relative to an NAIC-prescribed valuation matrix, is used to determine the reporting basis (i.e., amortized cost or lower of amortized cost or fair value).

Interest income is recognized when earned, while dividends are recognized when declared. The Company nonadmits investment income due and accrued when amounts are over 90 days past due.

For investments in loan-backed and structured securities, the Company recognizes income and amortizes discounts and premiums using the effective-yield method based on prepayment assumptions, generally obtained using a model provided by a third-party vendor, and the estimated economic life of the securities. When actual prepayments differ significantly from estimated prepayments, the effective-yield is recalculated to reflect actual payments to date and anticipated future payments. Any resulting adjustment is included in net investment income in the period the estimates are revised. All other investment income is recorded using the effective-yield method without anticipating the impact of prepayments.

F-13

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Purchases and sales of bonds and stocks are recorded on the trade date, with the exception of private placement bonds, which are recorded on the funding date. Realized gains and losses are determined on a specific identification method on the trade date.

Independent pricing services are most often utilized, and compared to pricing from additional sources when available, to determine the fair value of bonds and stocks for which market quotations or quotations on comparable securities or models are used. For these bonds and stocks, the Company obtains the pricing services’ methodologies and classifies the investments accordingly in the fair value hierarchy.

Corporate pricing matrices are used in valuing certain bonds. The corporate pricing matrices were developed using publicly and privately available spreads segmented by various weighted average lives and credit quality ratings. Certain private placement bonds have adjusted spreads to capture the impacts of liquidity premium based on industry sector. The weighted average life and credit quality rating of a particular bond to be priced using those matrices are important inputs into the model and are used to determine a corresponding spread that is added to the appropriate industry sector or U.S. Treasury yield to create an estimated market yield for that bond. The estimated market yield and other relevant factors are then used to estimate the fair value of the particular bond.

Non-binding broker quotes are also utilized to determine the fair value of certain bonds when deemed appropriate or when valuations are not available from independent pricing services or corporate pricing matrices. These bonds are classified with the lowest priority in the fair value hierarchy as only one broker quote is ordinarily obtained, the investment is not traded on an exchange, the pricing is not available to other entities and/or the transaction volume in the same or similar investments has decreased. Inputs used in the development of prices are not provided to the Company by the brokers, as the brokers often do not provide the necessary transparency into their quotes and methodologies. At least annually, the Company performs reviews and tests to ensure that quotes are a reasonable estimate of the investment’s fair value. Price movements of broker quotes are subject to validation and require approval from the Company’s management. Management uses its knowledge of the investment and current market conditions to determine if the price is indicative of the investment’s fair value.

For all bonds, the Company considers its ability and intent to hold the security for a period of time sufficient to allow for the anticipated recovery in value, the expected recovery of principal and interest and the extent to which the fair value has been less than amortized cost. If the decline in fair value to below amortized cost is determined to be other-than-temporary, a realized loss is recorded equal to the difference between the amortized cost of the investment and its fair value.

The Company periodically reviews loan-backed and structured securities in an unrealized loss position by comparing the present value of cash flows, including estimated prepayments, expected to be collected from the security to the amortized cost basis of the security. If the present value of cash flows expected to be collected, discounted at the security’s effective interest rate, is less than the amortized cost basis of the security, the impairment is considered other-than-temporary and a realized loss is recorded.

All other bonds in an unrealized loss position are periodically reviewed to determine if a decline in fair value to below amortized cost is other-than-temporary. Factors considered during this review include timing and amount of expected cash flows, ability of the issuer to meet its obligations, financial condition and future prospects of the issuer, amount and quality of any underlying collateral and current economic and industry conditions that may impact an issuer.

Stocks may experience other-than-temporary impairment based on the prospects for full recovery in value in a reasonable period of time and the Company’s ability and intent to hold the stock to recovery. If a stock is determined to be other-than-temporarily impaired, a realized loss is recorded equal to the difference between the cost basis of the investment and its fair value.

Investments in subsidiaries. The investment in the Company’s wholly-owned insurance subsidiaries, NLAIC, JNL and Eagle, are carried using the equity method of accounting applicable to U.S. insurance subsidiary, controlled and affiliated (“SCA”) entities. This requires the investment to be recorded based on the value of its underlying audited statutory surplus. Furthermore, the equity method of accounting would be discontinued if the investment is reduced to zero, unless the Company has guaranteed obligations of the subsidiary or otherwise committed to provide further financial support. The Company’s investment in NISC and NIA, wholly-owned non-insurance subsidiaries, are carried using the equity method of accounting applicable to U.S. non-insurance subsidiary, controlled and affiliated entities. This requires the investment to be recorded based on its underlying audited GAAP equity. Investments in NLAIC, JNL and NISC are included in stocks, and the investment in Eagle is included in other invested assets on the statutory statements of admitted assets, liabilities, capital and surplus.

Mortgage loans, net of allowance. The Company holds commercial mortgage loans that are collateralized by properties throughout the U.S. Mortgage loans are held at unpaid principal balance adjusted for premiums and discounts, less a valuation allowance. The Company also holds commercial mortgage loans of these property types that are under development. Mortgage loans under development are collateralized by the borrower’s common stock.

F-14

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

As part of the underwriting process, specific guidelines are followed to ensure the initial quality of a new mortgage loan. Third-party appraisals are obtained to support loaned amounts as the loans are collateral dependent or guaranteed.

The collectability and value of a mortgage loan is based on the ability of the borrower to repay and/or the value of the underlying collateral. Many of the Company’s mortgage loans are structured with balloon payment maturities, exposing the Company to risks associated with the borrowers’ ability to make the balloon payment or refinance the property. Loans are considered delinquent when contractual payments are 90 days past due.

Mortgage loans require a loan-specific reserve when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. When management determines that a loan requires a loan-specific reserve, a provision for loss is established equal to the difference between the carrying value and the fair value of the collateral less costs to sell. Loan-specific reserve charges are recorded in net unrealized capital gains and losses. In the event a loan-specific reserve charge is reversed, the recovery is also recorded in net unrealized capital gains and losses. If the mortgage loan is determined to be other-than-temporarily impaired, a realized loss is recorded equal to the difference between the cost basis of the loan and the fair value of the collateral less estimated costs to obtain and sell. Any previously recorded loan-specific reserve is reversed.

Management evaluates the credit quality of individual mortgage loans and the portfolio as a whole through a number of loan quality measurements, including, but not limited to, loan-to-value (“LTV”) and debt service coverage (“DSC”) ratios. The LTV ratio is calculated as a ratio of the amortized cost of a loan to the estimated value of the underlying collateral. DSC is the amount of cash flow generated by the underlying collateral of the mortgage loan available to meet periodic interest and principal payments of the loan. These loan quality measurements contribute to management’s assessment of relative credit risk in the mortgage loan portfolio. Based on underwriting criteria and ongoing assessment of the properties’ performance, management believes the amounts, net of valuation allowance, are collectible. This process identifies the risk profile and potential for loss individually and in the aggregate for the commercial mortgage loan portfolios. These factors are updated and evaluated at least annually. Due to the nature of the collateral underlying mortgage loans under development, these loans are not evaluated using the LTV and DSC ratios described above and instead are evaluated using other qualitative metrics.

Interest income on performing mortgage loans is recognized in net investment income over the life of the loan using the effective-yield method. Loans in default or in the process of foreclosure are placed on non-accrual status. Interest received on non-accrual status mortgage loans is included in net investment income in the period received. Loans are restored to accrual status when the principal and interest is current and it is determined the future principal and interest payments are probable or the loan is modified.

Policy loans. Policy loans, which are collateralized by the related insurance policy, are held at the outstanding principal balance and do not exceed the net cash surrender value of the policy. As such, no valuation allowance for policy loans is required.

Cash and cash equivalents. Cash and cash equivalents include highly liquid investments with original maturities of less than three months and amounts on deposit in internal qualified cash pools. The Company and various affiliates maintain agreements with Nationwide Cash Management Company (“NCMC”), an affiliate, under which NCMC acts as a common agent in handling the purchase and sale of short-term securities for the respective accounts of the participants in the internal qualified cash pool.

Short-term investments. Short-term investments consist of government agency discount notes with maturities of twelve months or less at acquisition. Short-term investments also include outstanding promissory notes with initial maturity dates of one-year or less with certain affiliates. The Company carries short-term investments at amortized cost, which approximates fair value.

Securities Lending. The Company has entered into securities lending agreements with a custodial bank whereby eligible securities are loaned to third parties, primarily major brokerage firms. These transactions are used to generate additional income in the securities portfolio. The Company is entitled to receive from the borrower any payments of interest and dividends received on loaned securities during the loan term. The agreements require a minimum of 102% of the fair value of the loaned securities to be held as collateral. Cash collateral is invested by the custodial bank in investment-grade securities, which are included in the total invested assets of the Company. Periodically, the Company may receive non-cash collateral, which would be recorded off-balance sheet. The Company recognizes loaned securities in bonds. A securities lending payable is recorded for the amount of cash collateral received. If the fair value of the collateral received (cash and/or securities) is less than the fair value of the securities loaned, the shortfall is nonadmitted. Net income received from securities lending activities is included in net investment income. Because the borrower or the Company may terminate a securities lending transaction at any time, if loans are terminated in advance of the reinvested collateral asset maturities, the Company would repay its securities lending obligations from operating cash flows or the proceeds of sales from its investment portfolio, which includes significant liquid securities.

F-15

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Other invested assets. Other invested assets consist primarily of alternative investments in private equity funds, private debt funds, tax credit funds, real estate partnerships, limited liability companies, joint ventures and the investment in Eagle. Except for investments in certain tax credit funds, these investments are recorded using the equity method of accounting. Changes in carrying value as a result of the equity method are reflected as net unrealized capital gains and losses as a direct adjustment to capital and surplus. Gains and losses are generally recognized through income at the time of disposal or when operating distributions are received. Partnership interests in tax credit funds are held at amortized cost with amortization charged to net investment income over the period in which the tax benefits, primarily credits, are earned. Tax credits are recorded as an offset to tax expense in the period utilized.

The Company sold $3.1 billion, $2.9 billion and $2.6 billion in Tax Credit Funds to unrelated third parties with outstanding guarantees as of December 31, 2023, 2022 and 2021, respectively. The Company guarantees after-tax benefits to the third-party investors through periods ending in 2041. These guarantees are in effect for periods of approximately 15 years each. The Tax Credit Funds provide a stream of tax benefits to the investors that will generate a yield and return of capital. If the tax benefits are not sufficient to provide these cumulative after-tax yields, the Company must fund any shortfall. The maximum amount of undiscounted future payments that the Company could be required to pay the investors under the terms of the guarantees is $1.8 billion, but the Company does not anticipate making any material payments related to the guarantees. The Company’s risks are mitigated in the following ways: (1) the Company has the right to buyout the equity related to the guarantee under certain circumstances, (2) the Company may replace underperforming properties to mitigate exposure to guarantee payments, (3) the Company oversees the asset management of the deals and (4) changes in tax laws are explicitly excluded from the Company’s guarantees of after-tax benefits.

Derivative Instruments

The Company uses derivative instruments to manage exposures and mitigate risks primarily associated with interest rates, equity markets and foreign currency. These derivative instruments primarily include interest rate swaps, cross-currency swaps, futures and options.

Derivative instruments used in hedging transactions considered to be effective hedges are reported in a manner consistent with the hedged items. With the exception of derivatives applying the prescribed practice under OAC 3901-1-67, derivative instruments used in hedging transactions that do not meet or no longer meet the criteria of an effective hedge are accounted for at fair value with changes in fair value recorded in capital and surplus as unrealized gains or losses.

The fair value of derivative instruments is determined using various valuation techniques relying predominantly on observable market inputs and internal models. These inputs include interest rate swap curves, credit spreads, interest rates, counterparty credit risk, equity volatility and equity index levels.

The Company’s derivative transaction counterparties are generally financial institutions. To reduce the credit risk associated with open contracts, the Company enters into master netting agreements which permit the closeout and netting of transactions with the same counterparty upon the occurrence of certain events. In addition, the Company attempts to reduce credit risk by obtaining collateral from counterparties. The determination of the need for and the levels of collateral vary based on an assessment of the credit risk of the counterparty. The Company accepts collateral in the forms of cash and marketable securities. Non-cash collateral received is recorded off-balance sheet.

Cash flows and payment accruals on derivatives are recorded in net investment income.

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources while unobservable inputs reflect the Company’s view of market assumptions in the absence of observable market information. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. In determining fair value, the Company uses various methods, including market, income and cost approaches.

The Company categorizes its financial instruments into a three-level hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument in its entirety.

The Company categorizes assets and liabilities held at fair value in the statutory statements of admitted assets, liabilities, capital and surplus as follows:

Level 1. Unadjusted quoted prices accessible in active markets for identical assets or liabilities at the measurement date and mutual funds where the value per share (unit) is determined and published daily and is the basis for current transactions.

F-16

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Level 2. Unadjusted quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active or inputs (other than quoted prices) that are observable or that are derived principally from or corroborated by observable market data through correlation or other means. Primary inputs to this valuation technique may include comparative trades, bid/asks, interest rate movements, U.S. Treasury rates, London Interbank Offered Rate (“LIBOR”), Secured Overnight Financing Rate (“SOFR”), prime rates, cash flows, maturity dates, call ability, estimated prepayments and/or underlying collateral values.

Level 3. Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimates of the assumptions market participants would use at the measurement date in pricing the asset or liability. Consideration is given to the risk inherent in both the method of valuation and the valuation inputs. Primary inputs to this valuation technique include broker quotes and comparative trades.

The Company reviews its fair value hierarchy classifications for assets and liabilities quarterly. Changes in the observability of significant valuation inputs identified during these reviews may trigger reclassifications. Reclassifications are reported as transfers at the beginning of the reporting period in which the change occurs.

Asset Valuation Reserve

The Company maintains an AVR as prescribed by the NAIC for the purpose of offsetting potential credit related investment losses on each invested asset category, excluding cash, policy loans and income receivable. The AVR contains a separate component for each category of invested assets. The change in AVR is charged or credited directly to capital and surplus.

Interest Maintenance Reserve

The Company records an IMR as prescribed by the NAIC, which represents the net deferral for interest-related gains or losses arising from the sale of certain investments, such as bonds, mortgage loans and loan-backed and structured securities sold. The IMR is applied as follows:

● for bonds, the designation from the NAIC Capital Markets and Investments Analysis Office must not have changed more than one designation between the beginning of the holding period and the date of sale;

● the bond must never have been classified as a default security;

● for mortgage loans, during the prior two years, they must not have had interest more than 90 days past due, been in the process of foreclosure or in the course of voluntary conveyance, nor had restructured terms; and

● for loan-backed and structured securities, all interest-related other-than-temporary impairments and interest-related realized gains or losses on sales of the securities.

The realized gains or losses, net of related federal income tax, from the applicable bonds and mortgage loans sold, have been removed from the net realized gain or loss amounts and established as the IMR. The IMR is amortized into income such that the amount of each capital gain or loss amortized in a given year is based on the excess of the amount of income which would have been reported that year, if the asset had not been disposed of over the amount of income which would have been reported had the asset been repurchased at its sale price. In the event the unamortized IMR liability balance is negative, the balance is reclassified as an asset and evaluated for admittance under INT 23-01, Net Negative (Disallowed) Interest Maintenance Reserve (“INT 23-01”). The Company utilizes the grouped method for amortization. Under the grouped method, the IMR is amortized into income over the remaining period to expected maturity based on the groupings of the individual securities into five-year bands. Refer to Recently Adopted Accounting Standards for additional discussion of IMR.

Goodwill

For companies whose operations are primarily insurance related, goodwill is the excess of the cost to acquire a company over the Company’s share of the statutory book value of the acquired entity. Goodwill is recorded in stocks in the statutory statements of admitted assets, liabilities and surplus. Goodwill is amortized on a straight-line basis over the period of economic benefit, not to exceed ten years, with a corresponding charge to surplus. Goodwill was immaterial as of December 31, 2023 and 2022.

F-17

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Federal Income Taxes

The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred tax assets, net of any nonadmitted portion and statutory valuation allowance, and deferred tax liabilities, are recognized for the expected future tax consequences attributable to differences between the statutory financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income or loss in the years in which those temporary differences are expected to be recovered or settled. The change in deferred taxes is charged directly to surplus, with the impact of taxes on unrealized capital gains or losses and nonadmitted assets reported separately in the statutory statements of changes in capital and surplus.

The Company provides for federal income taxes based on amounts the Company believes it ultimately will owe. Inherent in the provision for federal income taxes are estimates regarding the deductibility of certain items and the realization of certain tax credits. In the event the ultimate deductibility of certain items or the realization of certain tax credits differs from estimates, the Company may be required to change the provision for federal income taxes recorded in the statutory financial statements, which could be significant.

Tax reserves are reviewed regularly and are adjusted as events occur that the Company believes impact its liability for additional taxes, such as lapsing of applicable statutes of limitations, conclusion of tax audits or substantial agreement with taxing authorities on the deductibility/nondeductibility of uncertain items, additional exposure based on current calculations, identification of new issues, release of administrative guidance or rendering of a court decision affecting a particular tax issue. The Company believes its tax reserves reasonably provide for potential assessments that may result from Internal Revenue Service (“IRS”) examinations and other tax-related matters for all open tax years.

The Company is included in the NMIC consolidated federal income tax return.

Reinsurance Ceded

The Company cedes insurance to other companies in order to limit potential losses and to diversify its exposures. Such agreements do not relieve the Company of its primary obligation to the policyholder in the event the reinsurer is unable to meet the obligations it has assumed. Reinsurance premiums ceded and reinsurance recoveries on benefits and claims incurred are deducted from the respective income and expense accounts. Assets and liabilities related to reinsurance ceded are reported in the statutory statements of admitted assets, liabilities, capital and surplus on a net basis within the related future policy benefits and claims of the Company.

Participating Business

Participating business, which refers to policies that participate in profits through policyholder dividends, represented approximately 3% and 4% of the Company’s life insurance in force in 2023 and 2022, respectively, and 48% and 49% of the number of life insurance policies in force in 2023 and 2022, respectively. The provision for policyholder dividends was based on the respective year’s dividend scales, as approved by the Board of Directors. Policyholder dividends are recognized when declared. No additional income was allocated to participating policyholders during 2023 and 2022.

Accounting Changes and Corrections of Errors

Effective January 1, 2021, the Company elected to apply OAC 3901-1-67 to its derivative instruments hedging indexed products and indexed annuity reserve liabilities. As a result of the Company’s election to apply OAC 3901-1-67 as of January 1, 2021, the Company’s admitted assets decreased $3 million, total liabilities decreased $2 million and capital and surplus decreased $1 million, which included a $3 million reduction to unassigned surplus from the cumulative effect of the change in accounting principle.

During 2022, the Company identified and corrected an error in annuity product allocation drivers for general operating expenses between the Company and NLAIC that resulted in an understatement of the Company’s general insurance expenses for the years ended December 31, 2021, 2020 and 2019. The error resulted in an overstatement of net income of $22 million, an overstatement of total surplus of $45 million, an overstatement of total assets of $13 million and an understatement of total liabilities of $32 million as of and for the year ended December 31, 2021. In accordance with SSAP No. 3, Accounting Changes and Corrections of Errors (“SSAP No. 3”), the total prior period correction was recorded as a decrease to total surplus of $45 million, a decrease to total assets of $13 million and an increase to total liabilities of $32 million as of January 1, 2022. Additionally, the Company’s subsidiary, NLAIC, identified and corrected errors as of January 1, 2022 that increased the Company’s investment in NLAIC and total surplus by $6 million. The net decrease to the Company’s total surplus of $39 million in 2022 as a result of these corrections is reported as a negative adjustment to unassigned surplus.

F-18

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Recently Adopted Accounting Standards

Effective December 31, 2023, the Company adopted INT 23-04, Life Reinsurance Liquidation Questions, that clarifies accounting and reporting considerations of SSAP No. 5R, Liabilities, Contingencies and Impairments of Assets (“SSAP No. 5R”), as it relates to the liquidation of Scottish Re U.S. (“SRUS”). On July 18, 2023, SRUS was declared insolvent and ordered liquidated by the Court of Chancery of the State of Delaware (“Court”), resulting in termination of the reinsurance agreements between the Company and SRUS effective September 30, 2023, and the recapture of the ceded liabilities. The Company has accrued adequate provisions as of December 31, 2023, in accordance with SSAP No. 5R related to SRUS reinsurance recoverables and assets held in a trust that secure the annuity reinsurance recoverables. The Company will continue to work with the SRUS liquidator and the Court to resolve when the Company will be able to access the trust assets. As of December 31, 2023, assets held in trust and reinsurance recoverables related to SRUS are immaterial.

Effective September 30, 2023, the Company adopted INT 23-01, a short-term solution related to the accounting treatment of an insurer’s negative IMR balance. INT 23-01 allows an insurer with an authorized control level risk-based capital greater than 300%, after an adjustment to total adjusted capital, to admit negative IMR up to 10% of its general account capital and surplus, subject to certain restrictions and reporting obligations. There is no admitted disallowed IMR in the separate accounts. Fixed income investments generating IMR losses comply with the Company’s investment policies. There are no deviations from the investment policies and sales were not compelled by liquidity pressures. The Company has not allocated gains or losses to IMR from derivatives that were reported at fair value prior to the termination of the derivative. As of December 31, 2023, the Company has $93 million of admitted disallowed IMR in capital and surplus in the general account.

Effective January 1, 2021, the Company adopted revisions to SSAP No. 32R, Preferred Stock (“SSAP No. 32R”). The adopted revisions updated the definition for redeemable and perpetual preferred stock and furthermore, updated the valuation classification for perpetual preferred stock to fair value. Previously, perpetual preferred stock could have been valued at amortized cost or fair value based on the rating of the security. Per SSAP No. 32R, any valuation classification changes from amortized cost to fair value are to be recognized in statutory surplus. Going forward, changes to fair value will be recognized as a change in net unrealized capital gains and losses in statutory surplus. As a result of this change, the Company recorded an increase to statutory capital and surplus of $9 million as of January 1, 2021.

Subsequent Events

The Company evaluated subsequent events through March 20, 2024, the date the statutory financial statements were issued.

F-19

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

(3) Analysis of Actuarial Reserves and Deposit Liabilities by Withdrawal Characteristics

The following table summarizes the analysis of individual annuities actuarial reserves by withdrawal characteristics, as of the dates indicated:

(in millions)	General account1			Separate account with guarantees		Separate account non- guaranteed		Total			% of Total
December 31, 2023
Subject to discretionary withdrawal:
With market value adjustment	$	4,389		$	64	$	-	$	4,453			6	%
At book value less current surrender charge of 5% or more		2,210			-		-		2,210			3	%
At fair value		10			-		61,993		62,003			83	%
Total with market value adjustment or at fair value	$	6,609		$	64	$	61,993	$	68,666			92	%
At book value without adjustment (minimal or no charge or adjustment)		3,532			-		6		3,538			5	%
Not subject to discretionary withdrawal		2,342			-		62		2,404			3	%
Total, gross	$	12,483		$	64	$	62,061	$	74,608			100	%
Less: Reinsurance ceded		(98	)		-		-		(98	)
Total, net	$	12,385		$	64	$	62,061	$	74,510
Amount included in ‘Subject to discretionary withdrawal at book value less current surrender charge of 5% or more’ that will move to ‘Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment)’	$	78		$	-	$	-	$	78
December 31, 2022
Subject to discretionary withdrawal:
With market value adjustment	$	2,279		$	90	$	-	$	2,369			4	%
At book value less current surrender charge of 5% or more		675			-		-		675			1	%
At fair value		11			-		57,823		57,834			87	%
Total with market value adjustment or at fair value	$	2,965		$	90	$	57,823	$	60,878			92	%
At book value without adjustment (minimal or no charge or adjustment)		3,365			-		6		3,371			5	%
Not subject to discretionary withdrawal		2,009			-		56		2,065			3	%
Total, gross	$	8,339		$	90	$	57,885	$	66,314			100	%
Less: Reinsurance ceded		(110	)		-		-		(110	)
Total, net	$	8,229		$	90	$	57,885	$	66,204
Amount included in ‘Subject to discretionary withdrawal at book value less current surrender charge of 5% or more’ that will move to ‘Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment)’	$	65		$	-	$	-	$	65

¹  Includes reserves applying the prescribed practice under OAC 3901-1-67, as disclosed in Note 2.

F-20

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following table summarizes the analysis of group annuities actuarial reserves by withdrawal characteristics, as of the dates indicated:

(in millions)	General account1			Separate account with guarantees		Separate account non- guaranteed		Total			% of Total
December 31, 2023
Subject to discretionary withdrawal:
With market value adjustment	$	17,300		$	1,857	$	-	$	19,157			45	%
At book value less current surrender charge of 5% or more		2			-		-		2			0	%
At fair value		-			-		17,922		17,922			43	%
Total with market value adjustment or at fair value	$	17,302		$	1,857	$	17,922	$	37,081			88	%
At book value without adjustment (minimal or no charge or adjustment)		3,867			-		-		3,867			9	%
Not subject to discretionary withdrawal		1,237			102		-		1,339			3	%
Total, gross	$	22,406		$	1,959	$	17,922	$	42,287			100	%
Less: Reinsurance ceded		(29	)		-		-		(29	)
Total, net	$	22,377		$	1,959	$	17,922	$	42,258
Amount included in ‘Subject to discretionary withdrawal at book value less current surrender charge of 5% or more’ that will move to ‘Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment)’	$	2		$	-	$	-	$	2
December 31, 2022
Subject to discretionary withdrawal:
With market value adjustment	$	18,397		$	2,069	$	-	$	20,466			49	%
At book value less current surrender charge of 5% or more		6			-		-		6			0	%
At fair value		-			-		15,701		15,701			38	%
Total with market value adjustment or at fair value	$	18,403		$	2,069	$	15,701	$	36,173			87	%
At book value without adjustment (minimal or no charge or adjustment)		4,211			-		-		4,211			10	%
Not subject to discretionary withdrawal		1,051			103		-		1,154			3	%
Total, gross	$	23,665		$	2,172	$	15,701	$	41,538			100	%
Less: Reinsurance ceded		(53	)		-		-		(53	)
Total, net	$	23,612		$	2,172	$	15,701	$	41,485
Amount included in ‘Subject to discretionary withdrawal at book value less current surrender charge of 5% or more’ that will move to ‘Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment)’	$	6		$	-	$	-	$	6

¹  Includes reserves applying the prescribed practice under OAC 3901-1-67, as disclosed in Note 2.

F-21

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following table summarizes the analysis of deposit-type contracts and other liabilities without life or disability contingencies by withdrawal characteristics, as of the dates indicated:

(in millions)	General account		Separate account non- guaranteed		Total		% of Total
December 31, 2023
Subject to discretionary withdrawal:
With market value adjustment	$	1	$	-	$	1		0	%
Total with market value adjustment or at fair value	$	1	$	-	$	1		0	%
At book value without adjustment (minimal or no charge or adjustment)		781		2		783		17	%
Not subject to discretionary withdrawal		3,677		17		3,694		83	%
Total, gross	$	4,459	$	19	$	4,478		100	%
Less: Reinsurance ceded		-		-		-
Total, net	$	4,459	$	19	$	4,478
December 31, 2022
Subject to discretionary withdrawal:
With market value adjustment	$	1	$	-	$	1		0	%
Total with market value adjustment or at fair value	$	1	$	-	$	1		0	%
At book value without adjustment (minimal or no charge or adjustment)		666		2		668		16	%
Not subject to discretionary withdrawal		3,522		14		3,536		84	%
Total, gross	$	4,189	$	16	$	4,205		100	%
Less: Reinsurance ceded		-		-		-
Total, net	$	4,189	$	16	$	4,205

The following table is a reconciliation of total annuity actuarial reserves and deposit fund liabilities, as of the dates indicated:

	December 31,
(in millions)	2023		2022
Life, accident and health annual statement:
Annuities, net (excluding supplemental contracts with life contingencies)	$	34,748	$	31,827
Supplemental contracts with life contingencies, net		14		14
Deposit-type contracts		4,459		4,189
Subtotal	$	39,221	$	36,030
Separate accounts annual statement:
Annuities, net (excluding supplemental contracts with life contingencies)	$	82,006	$	75,848
Other contract deposit funds		19		16
Subtotal	$	82,025	$	75,864
Total annuity actuarial reserves and deposit fund liabilities, net	$	121,246	$	111,894

F-22

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following table summarizes the analysis of life actuarial reserves by withdrawal characteristics, as of the dates indicated:

	General account									Separate account - nonguaranteed
(in millions)	Account value			Cash value			Reserve			Account value		Cash value		Reserve
December 31, 2023
Subject to discretionary withdrawal, surrender values or policy loans:
Term policies with cash value	$	-		$	10		$	10		$	-	$	-	$	-
Universal life		2,616			2,629			2,790			-		-		-
Universal life with secondary guarantees		453			390			1,032			-		-		-
Indexed universal life with secondary guarantees		341			265			367			-		-		-
Other permanent cash value life insurance		-			1,919			2,398			-		-		-
Variable life		3,435			3,483			3,603			29,611		29,607		29,607
Subtotal	$	6,845		$	8,696		$	10,200		$	29,611	$	29,607	$	29,607
Not subject to discretionary withdrawal or no cash value:
Term policies without cash value		-			-			181			-		-		-
Accidental death benefits		-			-			1			-		-		-
Disability - active lives		-			-			17			-		-		-
Disability - disabled lives		-			-			59			-		-		-
Miscellaneous reserves		-			-			32			-		-		-
Total, gross	$	6,845		$	8,696		$	10,490		$	29,611	$	29,607	$	29,607
Less: reinsurance ceded		(8	)		(8	)		(151	)		-		-		-
Total, net	$	6,837		$	8,688		$	10,339		$	29,611	$	29,607	$	29,607

F-23

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

	General account									Separate account - nonguaranteed
(in millions)	Account value			Cash value			Reserve			Account value		Cash value		Reserve
December 31, 2022
Subject to discretionary withdrawal, surrender values or policy loans:
Term policies with cash value	$	-		$	11		$	11		$	-	$	-	$	-
Universal life		2,626			1,982			2,802			-		-		-
Universal life with secondary guarantees		426			353			929			-		-		-
Indexed universal life with secondary guarantees		283			210			304			-		-		-
Other permanent cash value life insurance		-			1,979			2,473			-		-		-
Variable life		2,850			2,898			3,010			25,626		25,621		25,260
Subtotal	$	6,185		$	7,433		$	9,529		$	25,626	$	25,621	$	25,260
Not subject to discretionary withdrawal or no cash value:
Term policies without cash value		-			-			206			-		-		-
Accidental death benefits		-			-			1			-		-		-
Disability - active lives		-			-			15			-		-		-
Disability - disabled lives		-			-			59			-		-		-
Miscellaneous reserves		-			-			31			-		-		-
Total, gross	$	6,185		$	7,433		$	9,841		$	25,626	$	25,621	$	25,260
Less: reinsurance ceded		(9	)		(9	)		(178	)		-		-		-
Total, net	$	6,176		$	7,424		$	9,663		$	25,626	$	25,621	$	25,260

The following table is a reconciliation of life actuarial reserves, as of the dates indicated:

	December 31,
(in millions)	2023		2022
Life, accident and health annual statement:
Life Insurance, net	$	10,241	$	9,569
Accidental death benefits, net		1		1
Disability - active lives, net		17		14
Disability - disabled lives, net		53		52
Miscellaneous reserves, net		27		27
Subtotal	$	10,339	$	9,663
Separate accounts annual statement:
Life insurance1	$	29,909	$	25,570
Subtotal	$	29,909	$	25,570
Total life actuarial reserves, net	$	40,248	$	35,233

1 Life insurance account value, cash value and reserve include separate accounts with guarantees of $302 million and $310 million for universal life as of December 31, 2023 and 2022, respectively.

The total direct premium written by managing general agents and third-party administrators was $451 million, $415 million and $444 million as of December 31, 2023, 2022 and 2021, respectively.

F-24

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

(4) Separate Accounts

The Company’s separate account statement includes assets legally insulated from the general account as of the dates indicated, attributed to the following product lines:

	December 31, 2023				December 31, 2022
(in millions)	Separate account assets legally insulated		Separate account assets (not legally insulated)		Separate account assets legally insulated		Separate account assets (not legally insulated)
Product / Transaction:
Individual annuities	$	67,634	$	-	$	63,282	$	-
Group annuities		15,453		-		13,743		-
Life insurance		30,082		-		25,688		-
Pension risk transfer group annuities		101		-		95		-
Total	$	113,270	$	-	$	102,808	$	-

The following table summarizes amounts paid towards separate account guarantees by the general account and related risk charges paid by the separate account for the years ended:

(in millions)	Total paid toward separate account guarantees		Risk charges paid to general account
2023	$	78	$	780
2022	$	79	$	722
2021	$	12	$	674
2020	$	26	$	631
2019	$	58	$	612

The Company does not engage in securities lending transactions within its separate accounts.

Most separate accounts held by the Company relate to individual and group variable annuity and variable universal life insurance contracts of a non-guaranteed return nature. The net investment experience of the separate accounts is credited directly to the contract holder and can be positive or negative. The individual variable annuity contracts generally provide an incidental death benefit of the greater of account value or premium paid (net of prior withdrawals). However, many individual variable annuity contracts also provide death benefits equal to (i) the most recent fifth-year anniversary account value, (ii) the highest account value on any previous anniversary, (iii) premiums paid increased 5% or certain combinations of these, all adjusted for prior withdrawals. The death benefit and cash value under the variable universal life policies may vary with the investment performance of the underlying investments in the separate accounts. The assets and liabilities of these separate accounts are carried at fair value and are non-guaranteed.

Certain other separate accounts offered by the Company contain groups of variable universal life policies wherein the assets supporting account values on the underlying policies reside in Private Placement Separate Accounts. They provide a quarterly interest rate based on a crediting formula that reflects the market value to book value ratio of the investments, investment portfolio yield and a specified duration.

Certain other separate accounts relate to a guaranteed term option, which provides a guaranteed interest rate that is paid over certain maturity durations ranging from three to ten years, so long as certain conditions are met. If amounts allocated to the guaranteed term option are distributed prior to the maturity period, a market value adjustment can be assessed. The assets and liabilities of these separate accounts are carried at fair value.

The Company has a separate account that holds group annuity contracts offered through the Company’s PRT business, wherein the Company provides guaranteed benefit payments to annuitants. The Company issues PRT business out of both the general and separate accounts, and within both, the assets and liabilities of this business are carried at amortized cost. The PRT separate account business has been included as a nonindexed guarantee less than or equal to 4%.

Another separate account offered by the Company contains a group of universal life policies wherein the assets supporting the account values on the underlying policies reside in a Private Placement Separate Account. It provides an annual interest rate guarantee, subject to a minimum guarantee of 3%. The interest rate declared each year reflects the anticipated investment experience of the account. The business has been included as a nonindexed guarantee less than or equal to 4%.

F-25

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following tables summarize the separate account reserves of the Company, as of the dates indicated:

(in millions)	Nonindexed guarantee less than or equal to 4%		Nonindexed guarantee more than 4%		Nonguaranteed separate accounts		Total
December 31, 2023
Premiums, considerations or deposits	$	88	$	-	$	6,181	$	6,269
Reserves
For accounts with assets at:
Fair value	$	1,781	$	143	$	109,609	$	111,533
Amortized cost		401		-		-		401
Total reserves1	$	2,182	$	143	$	109,609	$	111,934
By withdrawal characteristics:
With market value adjustment	$	1,779	$	143	$	-	$	1,922
At fair value		-		-		109,522		109,522
At book value without market value adjustment and with current surrender charge less than 5%		304		-		6		310
Subtotal	$	2,083	$	143	$	109,528	$	111,754
Not subject to discretionary withdrawal		99		-		81		180
Total reserves1	$	2,182	$	143	$	109,609	$	111,934

1 The total reserves balance does not equal the liabilities related to separate accounts of $113.3 billion in the statutory statements of admitted assets, liabilities, capital and surplus by $1.3 billion, due to an adjustment for CARVM/CRVM reserves and other liabilities that have not been allocated to the categories outlined above.

(in millions)	Nonindexed guarantee less than or equal to 4%		Nonindexed guarantee more than 4%		Nonguaranteed separate accounts		Total
December 31, 2022
Premiums, considerations or deposits	$	174	$	-	$	7,583	$	7,757
Reserves
For accounts with assets at:
Fair value	$	2,016	$	145	$	98,862	$	101,023
Amortized cost		411		-		-		411
Total reserves1	$	2,427	$	145	$	98,862	$	101,434
By withdrawal characteristics:
With market value adjustment	$	2,117	$	145	$	-	$	2,262
At fair value		-		-		98,784		98,784
At book value without market value adjustment and with current surrender charge less than 5%		310		-		8		318
Subtotal	$	2,427	$	145	$	98,792	$	101,364
Not subject to discretionary withdrawal		-		-		70		70
Total reserves1	$	2,427	$	145	$	98,862	$	101,434

1 The total reserves balance does not equal the liabilities related to separate accounts of $102.8 billion in the statutory statements of admitted assets, liabilities, capital and surplus by $1.4 billion, due to an adjustment for CARVM/CRVM reserves and other liabilities that have not been allocated to the categories outlined above.

F-26

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following table is a reconciliation of net transfers from separate accounts, as of the dates indicated:

				December 31,
(in millions)	2023			2022			2021
Net transfers as reported in the statutory statements of operations of the separate accounts:
Transfers to separate accounts	$	6,268		$	7,757		$	8,309
Transfers from separate accounts		(9,446	)		(8,860	)		(10,860	)
Net transfers from separate accounts	$	(3,178	)	$	(1,103	)	$	(2,551	)
Reconciling adjustments:
Exchange accounts offsetting in the general account		(889	)		(606	)		(552	)
Fees not included in general account transfers		41			47			68
Other miscellaneous adjustments not included in the general account balance		284			27			33
Net transfers as reported in the statutory statements of operations	$	(3,742	)	$	(1,635	)	$	(3,002	)

F-27

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

(5) Investments

Bonds and Stocks

The following table summarizes the carrying value, the excess of fair value over carrying value, the excess of carrying value over fair value and the fair value of bonds and stocks, as of the dates indicated:

(in millions)	Carrying value		Fair value in excess of carrying value		Carrying value in excess of fair value		Fair value
December 31, 2023
Bonds:
U.S. Government	$	173	$	3	$	-	$	176
States, territories and possessions		609		10		44		575
Political subdivisions		371		11		21		361
Special revenues		2,994		57		248		2,803
Industrial and miscellaneous		31,796		311		2,206		29,901
Loan-backed and structured securities		7,924		38		304		7,658
Total bonds	$	43,867	$	430	$	2,823	$	41,474
Common stocks unaffiliated	$	231	$	-	$	-	$	231
Preferred stocks unaffiliated		47		-		1		46
Total unaffiliated stocks1	$	278	$	-	$	1	$	277
Total bonds and unaffiliated stocks1	$	44,145	$	430	$	2,824	$	41,751
December 31, 2022
Bonds:
U.S. Government	$	1	$	-	$	-	$	1
States, territories and possessions		561		7		55		513
Political subdivisions		380		9		28		361
Special revenues		3,035		36		362		2,709
Industrial and miscellaneous		29,529		118		3,115		26,532
Loan-backed and structured securities		6,702		30		438		6,294
Total bonds	$	40,208	$	200	$	3,998	$	36,410
Common stocks unaffiliated	$	239	$	-	$	-	$	239
Preferred stocks unaffiliated		30		1		-		31
Total unaffiliated stocks1	$	269	$	1	$	-	$	270
Total bonds and unaffiliated stocks1	$	40,477	$	201	$	3,998	$	36,680

1 Excludes affiliated common stocks with a carrying value of $3.4 billion as of December 31, 2023 and 2022, respectively. Affiliated common stocks include investment in NLAIC and JNL of $3.2 billion and $203 million as of December 31, 2023, respectively. Affiliated common stocks include investment in NLAIC and JNFC of $3.2 billion and $186 million as of December 31, 2022, respectively.

The carrying value of bonds on deposit with various states as required by law or special escrow agreement was immaterial as of December 31, 2023 and 2022.

F-28

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following table summarizes the carrying value and fair value of bonds, by contractual maturity, as of December 31, 2023. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without early redemption penalties:

(in millions)	Carrying value		Fair value
Bonds:
Due in one year or less	$	1,325	$	1,312
Due after one year through five years		10,189		9,936
Due after five years through ten years		10,242		9,646
Due after ten years		14,187		12,922
Total bonds excluding loan-backed and structured securities	$	35,943	$	33,816
Loan-backed and structured securities		7,924		7,658
Total bonds	$	43,867	$	41,474

The following table summarizes the fair value and unrealized losses on bonds and stocks (amount by which cost or amortized cost exceeds fair value), for which other-than-temporary declines in value have not been recognized, based on the amount of time each type of bond or stock has been in an unrealized loss position, as of the dates indicated:

	Less than or equal to one year				More than one year				Total
(in millions)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
December 31, 2023
Bonds:
U.S. Government	$	79	$	-	$	1	$	-	$	80	$	-
States, territories and possessions		30		-		373		44		403		44
Political subdivisions		51		-		148		21		199		21
Special revenues		45		1		1,934		247		1,979		248
Industrial and miscellaneous		1,093		43		21,615		2,266		22,708		2,309
Loan-backed and structured securities		485		2		4,671		303		5,156		305
Total bonds	$	1,783	$	46	$	28,742	$	2,881	$	30,525	$	2,927
Common stocks unaffiliated	$	-	$	-	$	37	$	5	$	37	$	5
Preferred stocks unaffiliated		3		-		6		-		9		-
Total unaffiliated stocks	$	3	$	-	$	43	$	5	$	46	$	5
Total bonds and unaffiliated stocks	$	1,786	$	46	$	28,785	$	2,886	$	30,571	$	2,932
December 31, 2022
Bonds:
U.S. Government	$	1	$	-	$	-	$	-	$	1	$	-
States, territories and possessions		352		49		23		6		375		55
Political subdivisions		157		27		-		-		157		27
Special revenues		1,935		332		55		22		1,990		354
Industrial and miscellaneous		21,261		2,526		2,604		739		23,865		3,265
Loan-backed and structured securities		3,800		263		2,079		177		5,879		440
Total bonds	$	27,506	$	3,197	$	4,761	$	944	$	32,267	$	4,141
Common stocks unaffiliated	$	45	$	11	$	19	$	6	$	64	$	17
Preferred stocks unaffiliated		20		2		3		1		23		3
Total unaffiliated stocks	$	65	$	13	$	22	$	7	$	87	$	20
Total bonds and unaffiliated stocks	$	27,571	$	3,210	$	4,783	$	951	$	32,354	$	4,161

As of December 31, 2023, management evaluated securities in an unrealized loss position for impairment. As of the reporting date, the Company has the intent and ability to hold these securities until the fair value recovers, which may be at maturity, and therefore, does not consider the securities to be other-than-temporarily impaired.

There was no intent to sell loan-backed and structured securities that have been identified as having other-than-temporary impairments for the years ended December 31, 2023 and 2022.

F-29

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Mortgage Loans, Net of Allowance

The following table summarizes the amortized cost of mortgage loans and the related valuation allowances by type of credit loss, as of the dates indicated:

	December 31,
(in millions)	2023		2022
Total amortized cost	$	9,146	$	8,401
Valuation allowance:
Non-specific reserves2	$	-	$	37
Specific reserves		2		1
Total valuation allowance1	$	2	$	38
Mortgage loans, net of allowance	$	9,144	$	8,363

1 For the years ended December 31, 2023, 2022 and 2021, changes in the valuation allowance were immaterial and due to current period provisions.

2 Effective January 1, 2023, the Company changed its method for reserving for mortgage loans by removing the need for a non-specific reserve. In the Company’s judgment, the change in reserving approach appropriately reflects the credit risk inherent for mortgage loans held. The impact of the change was recorded as a reversal of the non-specific reserves, resulting in an increase to unassigned surplus of $4 million and recorded through ‘Other, net’ activity within the statutory statements of changes in capital and surplus. There was no impact on net income.

As of December 31, 2023 and 2022, the Company’s mortgage loans classified as delinquent and/or in non-accrual status were immaterial in relation to the total mortgage loan portfolio.

The following table summarizes the LTV ratio and DSC ratio of the mortgage loan portfolio as of the dates indicated:

	LTV ratio						DSC ratio
(in millions)	Less than 90%		90% or greater		Total		Greater than 1.00			Less than or equal to 1.00			Total
December 31, 2023
Apartment	$	3,831	$	22	$	3,853	$	3,823		$	29		$	3,852
Industrial		1,842		-		1,842		1,842			-			1,842
Office		1,057		71		1,128		1,126			3			1,129
Retail		1,888		8		1,896		1,887			9			1,896
Other		256		-		256		216			40			256
Total1	$	8,874	$	101	$	8,975	$	8,894		$	81		$	8,975
Weighted average DSC ratio		2.20		1.33		2.19		n/a			n/a			n/a
Weighted average LTV ratio		n/a		n/a		n/a		56	%		71	%		57%
December 31, 2022
Apartment	$	3,651	$	22	$	3,673	$	3,632		$	41		$	3,673
Industrial		1,437		-		1,437		1,437			-			1,437
Office		1,223		3		1,226		1,214			12			1,226
Retail		1,815		8		1,823		1,794			29			1,823
Other		225		-		225		217			8			225
Total1	$	8,351	$	33	$	8,384	$	8,294		$	90		$	8,384
Weighted average DSC ratio		2.20		0.82		2.19		n/a			n/a			n/a
Weighted average LTV ratio		n/a		n/a		n/a		57	%		81	%		57%

1 Excludes $171 million and $17 million of commercial mortgage loans that were under development as of December 31, 2023 and 2022, respectively.

As of December 31, 2023 and 2022, the Company has a diversified mortgage loan portfolio with no more than 23% in a geographic region in the U.S. and no more than 1% with any one borrower. The maximum and minimum lending rates for mortgage loans originated or acquired during 2023 were 9.2% and 4.8%, respectively, and for those originated or acquired during 2022 were 11.0% and 2.9%, respectively. As of December 31, 2023 and 2022, the maximum LTV ratio of any one loan at the time of loan origination was 78% and 80%, respectively. As of December 31, 2023 and 2022, the Company did not hold mortgage loans with interest 90 days or more past due. Additionally, there were no taxes, assessments or any amounts advanced and not included in the mortgage loan portfolio.

F-30

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Securities Lending

The fair value of loaned securities was $922 million and $611 million as of December 31, 2023 and 2022, respectively. The Company held $359 million and $232 million of cash collateral on securities lending as of December 31, 2023 and 2022, respectively. The carrying value and fair value of reinvested collateral assets were $359 million and $232 million and had a contractual maturity of under 30 days as of December 31, 2023 and 2022, respectively. The fair value of bonds acquired with reinvested collateral assets was $366 million and $236 million as of December 31, 2023 and 2022, respectively. There are no securities lending transactions that extend beyond one year as of the reporting date. The Company received $584 million and $394 million of non-cash collateral on securities lending as of December 31, 2023 and 2022, respectively.

Net Investment Income

The following table summarizes net investment income by investment type, for the years ended:

	December 31,
(in millions)	2023			2022			2021
Bonds	$	1,917		$	1,511		$	1,417
Mortgage loans		357			334			358
Other invested assets		868			196			499
Policy loans		43			42			43
Derivative instruments1		24			19			31
Other		62			44			12
Gross investment income	$	3,271		$	2,146		$	2,360
Investment expenses		(135	)		(127	)		(129)
Net investment income	$	3,136		$	2,019		$	2,231

1 Includes net investment income applying the prescribed practice under OAC 3901-1-67, as disclosed in Note 2.

The amount of investment income due and accrued that was nonadmitted as of December 31, 2023 and 2022 was immaterial. Investment income due and accrued as of December 31, 2023 and 2022 that was admitted was $965 million and $585 million, respectively.

Net Realized Capital Gains and Losses

The following table summarizes net realized capital gains and losses for the years ended:

	December 31,
(in millions)	2023			2022			2021
Gross gains on sales	$	31		$	31		$	106
Gross losses on sales		(68	)		(149	)		(32	)
Net realized (losses) gains on sales	$	(37	)	$	(118	)	$	74
Net realized derivative (losses) gains		(378	)		284			(679	)
Other-than-temporary impairments		(21	)		(26	)		(4	)
Total net realized (losses) gains	$	(436	)		$140		$	(609	)
Tax (benefit) expense on net (losses) gains		(4	)		3			59
Net realized capital (losses) gains, net of tax	$	(432	)		$137		$	(668	)
Less: Realized (losses) gains transferred to the IMR		(30	)		(103	)		15
Net realized capital (losses) gains, net of tax and transfers to the IMR	$	(402	)	$	240		$	(683	)

For the year ended December 31, 2023, gross realized gains and gross realized losses on sales of bonds were $25 million and $64 million, respectively. For the year ended December 31, 2022, gross realized gains and gross realized losses on sales of bonds were $7 million and $145 million, respectively. For the year ended December 31, 2021, gross realized gains and gross realized losses on sales of bonds were $80 million and $31 million, respectively.

The Company did not enter into any material repurchase transactions that would be considered wash sales during the years ended December 31, 2023, 2022 and 2021.

F-31

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Investment Commitments

The Company had unfunded commitments related to its investment in limited partnerships and limited liability companies totaling $1.0 billion and $894 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, there were $99 million and $207 million of commitments to purchase private placement bonds, respectively. There were $490 million and $291 million of outstanding commitments to fund mortgage loans as of December 31, 2023 and 2022, respectively.

(6) Derivative Instruments

The Company is exposed to certain risks related to its ongoing business operations which are managed using derivative instruments.

Interest rate risk management. In the normal course of business, the Company enters into transactions that expose it to interest rate risk arising from mismatches between assets and liabilities. The Company may use interest rate swaps and futures to reduce or alter interest rate exposure.

Interest rate contracts are used by the Company in association with fixed and variable rate investments to achieve cash flow streams that support certain financial obligations of the Company and to produce desired investment returns. As such, interest rate contracts are generally used to convert fixed rate cash flow streams to variable rate cash flow streams or vice versa.

Equity market risk management. The Company issues a variety of insurance products that expose it to equity risks. To mitigate these risks, the Company enters into a variety of derivatives including futures and options.

Indexed crediting risk management. The Company issues a variety of insurance and annuity products with indexed crediting features that expose the Company to risks related to the performance of an underlying index. To mitigate these risks, the Company enters into a variety of derivatives including index options, total return swaps and futures. The underlying indices can have exposure to equites, commodities and fixed income securities.

Other risk management. As part of its regular investing activities, the Company may purchase foreign currency denominated investments. These investments and the associated income expose the Company to volatility associated with movements in foreign exchange rates. As foreign exchange rates change, the increase or decrease in the cash flows of the derivative instrument are intended to mitigate the changes in the functional-currency equivalent cash flows of the hedged item. To mitigate this risk, the Company uses cross-currency swaps.

Credit risk associated with derivatives transactions. The Company periodically evaluates the risks within the derivative portfolios due to credit exposure. When evaluating this risk, the Company considers several factors which include, but are not limited to, the counterparty credit risk associated with derivative receivables, the Company’s own credit as it relates to derivative payables, the collateral thresholds associated with each counterparty and changes in relevant market data in order to gain insight into the probability of default by the counterparty. The Company also considers the impact credit exposure could have on the effectiveness of the Company’s hedging relationships. As of December 31, 2023 and 2022, the impact of the exposure to credit risk on the fair value measurement of derivatives and the effectiveness of the Company’s hedging relationships was immaterial.

F-32

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following table summarizes the fair value, carrying value and related notional amounts of derivative instruments, as of the dates indicated:

(in millions)	Notional amount		Net Carrying Value		Fair value asset		Fair value liability			Average fair value
December 31, 2023
Interest rate swaps	$	2,410	$	-	$	-	$	-		$	-
Options		137		1		7		-			-
Cross currency swaps		1,621		94		120		(22	)		1
Futures		2,925		-		-		-			-
Total derivatives¹	$	7,093	$	95	$	127	$	(22	)	$	1
December 31, 2022
Interest rate swaps	$	-	$	-	$	-	$	-		$	-
Options		96		1		2		-			-
Cross currency swaps		1,498		135		174		(9	)		2
Futures		3,316		-		-		-			-
Total derivatives¹	$	4,910	$	136	$	176	$	(9	)	$	2

1 Fair value balance excludes immaterial accrued interest on derivative assets for December 31, 2023 and 2022.

The Company received $253 million and $178 million of cash collateral and held $49 million and $20 million of securities off-balance sheet as collateral for derivative assets as of December 31, 2023 and 2022, respectively. Cash and securities pledged for derivative liabilities were immaterial as of December 31, 2023 and 2022. The impact of netting as a result of master netting agreements reduced the fair value of derivative assets and liabilities by $20 million and $8 million as of December 31, 2023 and 2022, respectively. As a result, the Company’s uncollateralized position for derivatives instruments was immaterial in each respective period. In addition, the Company posted initial margin on derivative instruments of $256 million and $236 million as of December 31, 2023 and 2022, respectively.

The following table summarizes net gains and losses on derivatives programs by type of derivative instrument, as of the dates indicated:

	Net realized (losses) gains recorded in operations								Unrealized (losses) gains recorded in capital and surplus
	December 31,								December 31,
(in millions)	2023			2022		2021			2023			2022		2021
Cross currency swaps	$	-		$	1	$	1		$	(43	)	$	103	$	69
Futures		(378	)		283		(680	)		(173	)		124		27
Total	$	(378	)	$	284	$	(679	)	$	(216	)	$	227	$	96

F-33

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

(7) Fair Value Measurements

The following table summarizes assets and liabilities held at fair value as of December 31, 2023:

(in millions)	Level 1		Level 2		Level 3		Net Asset Value (NAV)		Total
Assets
Bonds	$	-	$	7	$	-	$	-	$	7
Common stocks unaffiliated		67		164		-		-		231
Preferred stocks unaffiliated		-		39		7		-		46
Separate account assets		104,555		1,637		51		6,430		112,673
Assets at fair value	$	104,622	$	1,847	$	58	$	6,430	$	112,957

The following table presents the rollforward of Level 3 assets and liabilities held at fair value during the year ended December 31, 2023:

(in millions)	Preferred stocks  unaffiliated			Separate account assets			Assets  at fair value
Balance as of December 31, 2022	$	6		$	55		$	61
Net gains (losses):
In surplus		1			(1	)		-
Purchases		3			-			3
Sales		(3	)		(3	)		(6	)
Balance as of December 31, 2023	$	7		$	51		$	58

The following table summarizes assets and liabilities held at fair value as of December 31, 2022:

(in millions)	Level 1		Level 2		Level 3		Net Asset Value (NAV)		Total
Assets
Bonds	$	-	$	11	$	-	$	-	$	11
Common stocks unaffiliated		77		162		-		-		239
Preferred stocks unaffiliated		-		25		6		-		31
Separate account assets		97,015		1,795		55		3,552		102,417
Assets at fair value	$	97,092	$	1,993	$	61	$	3,552	$	102,698

The following table presents the rollforward of Level 3 assets and liabilities held at fair value during the year ended December 31, 2022:

(in millions)	Bonds1			Preferred stocks unaffiliated			Separate  account assets			Assets  at fair value
Balance as of December 31, 2021	$	1		$	6		$	49		$	56
Net gains (losses):
In surplus		-			-			24			24
Purchases		-			2			-			2
Sales		-			(2	)		(18	)		(20	)
Transfers out of Level 3		(1	)		-			-			(1	)
Balance as of December 31, 2022	$	-		$	6		$	55			61

1 Bonds transfer out of Level 3 during the year ended December 31, 2022, result from the application of the lower of amortized cost or fair value rules based on NAIC rating.

F-34

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following table summarizes the carrying value and fair value of the Company’s assets and liabilities not held at fair value as of the dates indicated. The valuation techniques used to estimate these fair values are described below or in Note 2.

	Fair Value
(in millions)	Level 1			Level 2		Level 3		Total fair value		Carrying value
December 31, 2023
Assets:
Bonds	$	175		$	35,293	$	5,999	$	41,467	$	43,860
Mortgage loans, net of allowance		-			-		8,047		8,047		9,144
Policy loans		-			-		969		969		969
Derivative assets		-			120		7		127		113
Cash, cash equivalents and short-term investments		(52	)		1,607		-		1,555		1,555
Securities lending collateral assets		359			-		-		359		359
Separate account assets		5			411		157		573		597
Total assets	$	487		$	37,431	$	15,179	$	53,097	$	56,597
Liabilities:
Investment contracts	$	-		$	-	$	3,265	$	3,265	$	3,242
Derivative liabilities		-			22		-		22		17
Total liabilities	$	-		$	22	$	3,265	$	3,287	$	3,259
December 31, 2022
Assets:
Bonds	$	1		$	32,048	$	4,350	$	36,399	$	40,197
Mortgage loans, net of allowance		-			-		7,351		7,351		8,363
Policy loans		-			-		933		933		933
Derivative assets		-			174		2		176		143
Cash, cash equivalents and short-term investments		613			1,008		-		1,621		1,621
Securities lending collateral assets		232			-		-		232		232
Separate account assets		4			311		41		356		391
Total assets	$	850		$	33,541	$	12,677	$	47,068	$	51,880
Liabilities:
Investment contracts	$	-		$	-	$	3,158	$	3,158	$	3,148
Derivative liabilities		-			9		-		9		7
Total liabilities	$	-		$	9	$	3,158	$	3,167	$	3,155

Mortgage loans, net of allowance. The fair values of mortgage loans are primarily estimated using discounted cash flow analyses based on interest rates currently being offered for similar loans to borrowers with similar credit ratings.

Policy loans. The carrying amount reported in the statutory statements of admitted assets, liabilities, capital and surplus approximates fair value as policy loans are fully collateralized by the cash surrender value of underlying insurance policies.

Securities lending collateral assets. These assets are comprised of bonds and short-term investments and the respective fair values are estimated based on the fair value methods described in Note 2.

Investment contracts. For investment contracts without defined maturities, fair value is the amount payable on demand, net of surrender charges. For investment contracts with known or determined maturities, fair value is estimated using discounted cash flow analysis. Interest rates used in this analysis are similar to currently offered contracts with maturities consistent with those remaining for the contracts being valued. The fair value of adjustable-rate contracts approximates their carrying value.

F-35

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

(8) Federal Income Taxes

The following tables summarize the net admitted deferred tax assets, as of the dates indicated:

	December 31, 2023
(in millions)	Ordinary			Capital			Total
Total gross deferred tax assets	$	953		$	21		$	974
Statutory valuation allowance adjustment		-			-			-
Adjusted gross deferred tax assets	$	953		$	21		$	974
Less: Deferred tax assets nonadmitted		(222	)		-			(222)
Net admitted deferred tax assets	$	731		$	21		$	752
Less: Deferred tax liabilities		(105	)		(15	)		(120)
Net admitted deferred tax assets	$	626		$	6		$	632
	December 31, 2022
(in millions)	Ordinary			Capital			Total
Total gross deferred tax assets	$	820		$	32		$	852
Statutory valuation allowance adjustment		-			-			-
Adjusted gross deferred tax assets	$	820		$	32		$	852
Less: Deferred tax assets nonadmitted		(96	)		(7	)		(103)
Net admitted deferred tax assets	$	724		$	25		$	749
Less: Deferred tax liabilities		(147	)		(13	)		(160)
Net admitted deferred tax assets	$	577		$	12		$	589

The following table summarizes components of the change in deferred income taxes reported in capital and surplus before consideration of nonadmitted assets and changes from the prior year, as of the dates indicated:

	December 31,
(in millions)	2023			2022			Change
Adjusted gross deferred tax assets	$	974		$	852		$	122
Total deferred tax liabilities		(120	)		(160	)		40
Net deferred tax assets	$	854		$	692		$	162
Less: Tax effect of unrealized gains and losses								37
Less: Tax effect of change in accounting principle								(8	)
Less: Merger adjustment								1
Change in deferred income tax							$	132

F-36

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following tables summarize components of the admitted deferred tax assets calculation, as of the dates indicated:

	December 31, 2023
(in millions)	Ordinary		Capital		Total
Federal income taxes recoverable through loss carryback	$	-	$	3	$	3
Adjusted gross deferred tax assets expected to be realized1		623		6		629
Adjusted gross deferred tax assets offset against existing gross deferred tax liabilities		108		12		120
Admitted deferred tax assets	$	731	$	21	$	752

	December 31, 2022
(in millions)	Ordinary		Capital		Total
Federal income taxes recoverable through loss carryback	$	-	$	8	$	8
Adjusted gross deferred tax assets expected to be realized1		577		4		581
Adjusted gross deferred tax assets offset against existing gross deferred tax liabilities		147		13		160
Admitted deferred tax assets	$	724	$	25	$	749

1 Note that this amount is calculated as the lesser of the adjusted gross deferred tax assets expected to be realized following the balance sheet date or the adjusted gross deferred tax assets allowed per the limitation threshold. For the years ended December 31, 2023 and 2022, the threshold limitation for adjusted capital and surplus was $1.6 billion and $1.4 billion, respectively.

The adjusted capital and surplus used to determine the recovery period and adjusted gross deferred tax assets allowed per the limitation threshold was $10.5 billion and $9.5 billion as of December 31, 2023 and 2022, respectively. The ratio percentage used to determine the recovery period and adjusted gross deferred tax assets allowed per the limitation threshold was 1,062% and 1,071% as of December 31, 2023 and 2022, respectively.

The following tables summarize the impact of tax planning strategies, as of the dates indicated:

	December 31, 2023
	Ordinary			Capital			Total
Adjusted gross deferred tax assets		0.00	%		0.00	%		0.00	%
Net admitted adjusted gross deferred tax assets		7.19	%		0.00	%		7.19	%

	December 31, 2022
	Ordinary			Capital			Total
Adjusted gross deferred tax assets		0.00	%		0.00	%		0.00	%
Net admitted adjusted gross deferred tax assets		25.51	%		0.00	%		25.51	%

The Company’s tax planning strategies included the use of affiliated reinsurance for the years ended December 31, 2023 and 2022.

There are no temporary differences for which deferred tax liabilities are not recognized for the years ended December 31, 2023 and 2022.

F-37

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following table summarizes the tax effects of temporary differences and the change from the prior year, for the years ended:

	December 31,
(in millions)	2023			2022			Change
Deferred tax assets
Ordinary:
Future policy benefits and claims	$	231		$	132		$	99
Investments		110			89			21
Deferred acquisition costs		297			260			37
Tax credit carry-forward		259			294			(35	)
Other		56			45			11
Subtotal	$	953		$	820		$	133
Nonadmitted		(222	)		(96	)		(126	)
Admitted ordinary deferred tax assets	$	731		$	724		$	7
Capital:
Investments		21			32			(11	)
Subtotal	$	21		$	32		$	(11	)
Nonadmitted		-			(7	)		7
Admitted capital deferred tax assets	$	21		$	25		$	(4	)
Admitted deferred tax assets	$	752		$	749		$	3
Deferred tax liabilities
Ordinary:
Investments	$	(68	)	$	(100	)	$	32
Future policy benefits and claims		(22	)		(32	)		10
Other		(15	)		(15	)		-
Subtotal	$	(105	)	$	(147	)	$	42
Capital:
Investments		(15	)		(13	)		(2	)
Subtotal	$	(15	)	$	(13	)	$	(2	)
Deferred tax liabilities	$	(120	)	$	(160	)	$	40
Net deferred tax assets	$	632		$	589		$	43

In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion of the total deferred tax assets will not be realized. Valuation allowances are established when necessary to reduce the deferred tax assets to amounts expected to be realized. Based on the Company’s analysis, it is more likely than not that the results of future operations and the implementation of tax planning strategies will generate sufficient taxable income to enable the Company to realize all deferred tax assets. Therefore, no valuation allowances have been established as of December 31, 2023 and 2022.

F-38

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The following table summarizes the Company’s income tax incurred and change in deferred income tax. The total income tax and change in deferred income tax differs from the amount obtained by applying the federal statutory rate to income (loss) before tax as follows, for the years ended:

	December 31,
(in millions)	2023			2022			2021
Current income tax expense	$	104		$	103		$	50
Change in deferred income tax (without tax on unrealized gains and losses)		(132	)		(28	)		(50	)
Total income tax (benefit) expense reported	$	(28	)	$	75		$	-
Income before income and capital gains taxes	$	1,053		$	1,077		$	861
Federal statutory tax rate		21	%		21	%		21	%
Expected income tax expense at statutory tax rate	$	221		$	226		$	181
(Decrease) increase in actual tax reported resulting from:
Dividends received deduction		(211	)		(80	)		(137	)
Tax credits		(45	)		(58	)		(47	)
Other		7			(13	)		3
Total income tax (benefit) expense reported	$	(28	)	$	75		$	-

The Company incurred $11 million in federal income tax expense in 2021, which is available for recoupment in the event of future net losses.

The following table summarizes operating loss or tax credit carry-forwards available as of December 31, 2023:

(in millions)	Amount		Origination		Expiration
Operating loss carryforwards	$	2		2017		2032
Business credits	$	32		2016		2036
Business credits	$	62		2017		2037
Business credits	$	30		2018		2038
Business credits	$	27		2019		2039
Business credits	$	29		2020		2040
Business credits	$	28		2021		2041
Business credits	$	27		2022		2042
Business credits	$	24		2023		2043

F-39

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The Company is included in the NMIC consolidated federal income tax return which includes the following entities:

Nationwide Mutual Insurance Company AGMC Reinsurance, Ltd Allied Insurance Company of America Allied Property & Casualty Insurance Company Allied Texas Agency, Inc. AMCO Insurance Company American Marine Underwriters Crestbrook Insurance Company Depositors Insurance Company DVM Insurance Agency, Inc. Eagle Captive Reinsurance, LLC Freedom Specialty Insurance Company Harleysville Insurance Company of New York Harleysville Insurance Company Harleysville Insurance Company of New Jersey Harleysville Lake States Insurance Company Harleysville Preferred Insurance Company Harleysville Worcester Insurance Company Jefferson National Financial Corporation Jefferson National Life Insurance Company Jefferson National Life Insurance Company of New York Lone Star General Agency, Inc. National Casualty Company Nationwide Advantage Mortgage Company Nationwide Affinity Insurance Company of America Nationwide Agent Risk Purchasing Group. Inc. Nationwide Agribusiness Insurance Company Nationwide Assurance Company Nationwide Cash Management Company Nationwide Corporation Nationwide Financial Assignment Company Nationwide Financial General Agency, Inc. Nationwide Financial Services, Inc. Nationwide General Insurance Company Nationwide Indemnity Company Nationwide Insurance Company of America Nationwide Insurance Company of Florida Nationwide Investment Services Corporation Nationwide Life and Annuity Insurance Company Nationwide Life Insurance Company Nationwide Lloyds Nationwide Property & Casualty Ins. Company Nationwide Retirement Solutions, Inc. Nationwide Sales Solutions, Inc. Nationwide Trust Company, FSB NBS Insurance Agency, Inc. NFS Distributors, Inc. Registered Investment Advisors Services, Inc. Retention Alternatives, Ltd. Retention Alternatives Ltd. In Respect of Cell No. 1 Segregated Account Scottsdale Indemnity Company Scottsdale Insurance Company Scottsdale Surplus Lines Insurance Company Titan Insurance Company Titan Insurance Services, Inc. Veterinary Pet Insurance Company Victoria Fire & Casualty Company Victoria Select Insurance Company VPI Services, Inc.

The method of allocation of regular tax among the companies is based upon separate return calculations with current benefit for tax losses and credits utilized in the consolidated return. Effective January 1, 2023, the Company revised its tax sharing agreement to address corporate alternative minimum tax (“CAMT”). If the consolidated federal income tax return group is an Applicable Corporation and has a CAMT liability, all members of the group will be treated as Applicable Corporations subject to CAMT. CAMT is paid by affiliates based on the ratio of the subsidiary’s CAMT liability to the total CAMT liabilities of all subsidiaries.

The Company did not have any protective tax deposits under Section 6603 of the Internal Revenue Code as of December 31, 2023 and 2022.

The Company does not have any tax loss contingencies for which it is reasonably possible that the total liability will significantly increase within twelve months of the reporting date.

In August 2022, the Inflation Reduction Act of 2022 (“Act”) was passed by the U.S. Congress and signed into law. The Act includes a new Federal CAMT, effective in 2023, that is based on the adjusted financial statement income (“AFSI”) set forth on the applicable financial statement (“AFS”) of an applicable corporation. A corporation is an applicable corporation if its rolling average pre-tax AFSI over three prior years (starting with 2020-2022) is greater than $1.0 billion. For a group of related entities, the $1.0 billion threshold is determined on a group basis, and the group’s AFS is generally treated as the AFS for all separate taxpayers in the group. Except under limited circumstances, once a corporation is an applicable corporation, it is an applicable corporation in all future years.

An applicable corporation is not automatically subject to a CAMT liability. The corporation’s tentative CAMT liability is equal to 15% of its adjusted AFSI, and CAMT is payable to the extent the tentative CAMT liability exceeds regular corporate income tax. However, any CAMT paid would be indefinitely available as a credit carryover that could reduce future regular tax in excess of CAMT.

F-40

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Reporting entities that reasonably expect to be applicable corporations for the current reporting period are considered applicable reporting entities. The Company comprises a controlled group of corporations and has determined that it likely will be an applicable corporation, and therefore an appliable reporting entity, in 2023. In making such determination, the group has made certain interpretations of, and assumptions regarding, the CAMT provisions of the Act. The Company does not consider its CAMT status when evaluating its deferred tax assets under the regular tax system. The U.S. Treasury Department is expected to issue guidance throughout 2024 that may differ from the group’s interpretations and assumptions and that could alter the group’s determination.

The reporting entity has made an accounting policy election to disregard CAMT when evaluating the need for a valuation allowance for its non-CAMT deferred tax assets.

For the years ended December 31, 2023 and 2022, the Act did not impact the Company’s total tax.

(9) Short-Term Debt and FHLB Funding Agreements

Short-Term Debt

The Company is a party to a $750 million revolving variable rate credit facility agreement. The Company had no amounts outstanding under the facility as of December 31, 2023 and 2022.

The Company has entered into an agreement with its custodial bank to borrow against the cash collateral that is posted in connection with its securities lending program. The maximum amount available under the agreement is $350 million. The borrowing rate on this program is equal to Effective Federal Funds Rate plus 0.18%. The Company had no amounts outstanding under this agreement as of December 31, 2023 and 2022.

The terms of certain debt instruments contain various restrictive covenants, including, but not limited to, minimum statutory surplus defined in the agreements. The Company was in compliance with all covenants as of December 31, 2023 and 2022.

The amount of interest paid on short-term debt was immaterial in 2023, 2022 and 2021.

FHLB Funding Agreements

The Company is a member of the FHLB. Through its membership, the FHLB established the Company’s capacity for short-term borrowings and cash advances under the funding agreement program at up to 50% of total admitted assets.

The Company’s Board of Directors has authorized the issuance of funding agreements up to $6.0 billion to the FHLB, shared between the Company and NLAIC, in exchange for cash advances, which are collateralized by pledged securities. The Company uses these funds in an investment spread strategy, consistent with its other investment spread operations. As such, the Company applies SSAP No. 52, Deposit-Type Contracts, accounting treatment to these funds, consistent with its other deposit-type contracts. It is not part of the Company’s strategy to utilize these funds for operations, and any funds obtained from the FHLB for use in general operations would be accounted for consistent with SSAP No. 15, Debt and Holding Company Obligations, as borrowed money. FHLB membership requires the Company to purchase and hold a minimum amount of FHLB capital stock plus additional stock based on outstanding advances. The Company has $20 million in membership stock as of December 31, 2023 and 2022. As part of the agreement, the Company purchased and held an additional $144 million and $139 million in activity stock and an immaterial amount in excess stock as of December 31, 2023 and 2022, respectively, which is included in stocks on the statutory statements of admitted assets, liabilities, capital and surplus. The Company’s liability for advances from the FHLB was $3.3 billion and $3.1 billion as of December 31, 2023 and 2022, respectively, which is included in future policy benefits and claims on the statutory statements of admitted assets, liabilities, capital and surplus.

The Company has agreements with the FHLB to provide financing for operations. These agreements, which were renewed in February 2024 and expire January 2025, allow the Company access to borrow up to $1.1 billion. As of December 31, 2023 and 2022, the Company had no amounts outstanding under these agreements.

Bonds and mortgage loans with a carrying value of $5.3 billion (3.0% of total admitted assets) as of December 31, 2023 and $4.6 billion (2.8% of total admitted assets) as of December 31, 2022 were pledged as collateral under FHLB agreements and are included in bonds and mortgage loans on the statutory statements of admitted assets, liabilities, capital and surplus.

F-41

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

(10) Surplus Notes

The following table summarizes the carrying value of surplus notes issued by the Company to NFS, as of the dates indicated:

(in millions)
Date issued	Interest rate			Par value		Carrying value		Interest and/ or principal paid in current year		Total interest and/or principal paid		Unapproved interest and/or principal		Date of maturity
December 31, 2023
12/19/2001		7.50	%	$	300	$	300	$	23	$	495	$	-		12/31/2031
6/27/2002		8.15	%		300		300		24		521		-		6/27/2032
12/23/2003		6.75	%		100		100		7		132		-		12/23/2033
12/20/2019		4.21	%		400		400		16		67		-		12/19/2059
Total				$	1,100	$	1,100	$	70	$	1,215	$	-
December 31, 2022
12/19/2001		7.50	%	$	300	$	300	$	22	$	472	$	-		12/31/2031
6/27/2002		8.15	%		300		300		24		497		-		6/27/2032
12/23/2003		6.75	%		100		100		6		125		-		12/23/2033
12/20/2019		4.21	%		400		400		17		51		-		12/19/2059
Total				$	1,100	$	1,100	$	69	$	1,145	$	-

The surplus notes were issued in accordance with Section 3901.72 of the Ohio Revised Code. The principal and interest on these surplus notes shall not be a liability or claim against NLIC, or any of its assets, except as provided in Section 3901.72 of the Ohio Revised Code. The Department must approve interest and principal payments before they are paid.

(11) Reinsurance

The Company has 100% coinsurance agreements with funds withheld with Eagle to cede specified GMDB and GLWB obligations provided under substantially all of the variable annuity contracts and certain fixed indexed annuity contracts issued and to be issued by NLIC. While the GMDB and GLWB contract riders are ceded by NLIC to Eagle, the base annuity contracts and any non-reinsured risks will be retained by NLIC. Amounts ceded to Eagle during 2023, 2022 and 2021 included premiums of $635 million, $637 million and $607 million, respectively, benefits and claims, net of third-party reinsurance recoveries, of $73 million, $75 million, and $8 million respectively, net investment earnings on funds withheld assets of $55 million, $52 million and $40 million, respectively, and an expense allowance for third-party reinsurance premiums of $1 million, $2 million and $1 million, respectively. As of December 31, 2023 and 2022, the carrying value of the funds withheld assets recorded within funds held under coinsurance was $1.3 billion and $1.6 billion, respectively, which consists of bonds and cash equivalents that had a carrying value of $1.2 billion and $1.5 million, respectively, and mortgage loans that had a carrying value of $73 million and $95 million, respectively. As of December 31, 2023 and 2022, the Company’s reserve credit for guaranteed benefits ceded under the reinsurance agreements was $91 million and $253 million, respectively. Amounts payable to Eagle related to the reinsurance agreements were $377 million and $424 million as of December 31, 2023 and 2022, respectively.

The Company has a reinsurance agreement with NMIC whereby nearly all of the Company’s accident and health business not ceded to unaffiliated reinsurers is ceded to NMIC on a modified coinsurance basis. Either party may terminate the agreement on January 1 of any year with prior notice. Under a modified coinsurance agreement, the ceding company retains invested assets, and investment earnings are paid to the reinsurer. Under the terms of the Company’s agreement, the investment risk associated with changes in interest rates is borne by the reinsurer. Risk of asset default is retained by the Company, although a fee is paid to the Company for the retention of such risk. The ceding of risk does not discharge the Company, as the original insurer, from its primary obligation to the policyholder. Amounts ceded to NMIC include revenues of $307 million, $287 million and $281 million for the years ended December 31, 2023, 2022 and 2021, respectively, while benefits, claims and expenses ceded were $301 million, $267 million and $257 million, respectively.

F-42

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The Company has an intercompany reinsurance agreement with NLAIC whereby certain inforce and subsequently issued fixed individual deferred annuity contracts are assumed on a modified coinsurance basis. Under modified coinsurance agreements, the ceding company retains invested assets and investment earnings are paid to the reinsurer. Under terms of the agreement, the Company bears the investment risk associated with changes in interest rates. Risk of asset default remains with NLAIC, and the Company pays a fee to NLAIC for the retention of such risk. The agreement will remain inforce until all contract obligations are settled. The ceding of risk does not discharge the original insurer from its primary obligation to the contractholder. Amounts assumed from NLAIC are included in the Company’s statutory statements of operations for 2023, 2022 and 2021 and include considerations of $46 million, $10 million and $10 million, respectively, net investment income of $31 million, $35 million and $42 million, respectively, and benefits, claims and other expenses of $186 million, $161 million and $147 million, respectively. The reserve adjustment for 2023, 2022 and 2021 of $(153) million, $(161) million and $(151) million, respectively, represents changes in reserves related to this fixed block of business, offset by investment earnings on the underlying assets. Policy reserves under this agreement totaled $737 million and $859 million as of December 31, 2023 and 2022, respectively, and amounts payable related to this agreement were $6 million and $14 million as of December 31, 2023 and 2022, respectively.

The Company has an intercompany reinsurance agreement with NLAIC whereby certain variable universal life insurance, whole life insurance and universal life insurance policies are assumed on a modified coinsurance basis. Total policy reserves under this treaty were $34 million and $33 million as of December 31, 2023 and 2022, respectively. Total premiums assumed under this treaty were $12 million, $12 million and $12 million during 2023, 2022 and 2021, respectively.

The Company has an intercompany reinsurance agreement with NLAIC whereby a certain life insurance contract is assumed on a 100% coinsurance basis. Policy reserves assumed under this agreement totaled $154 million and $156 million as of December 31, 2023 and 2022, respectively.

The Company has entered into reinsurance contracts to cede a portion of its individual annuity and life insurance business to unrelated reinsurers. Total reserve credits taken as of December 31, 2023 and 2022 were $278 million and $345 million, respectively. The ceding of risk does not relieve the Company, as the original insurer, from its primary obligation to the policyholder.

(12) Transactions with Affiliates

The Company has entered into significant, recurring transactions and agreements with NMIC, other affiliates and subsidiaries as a part of its ongoing operations. These include, but are not limited to, annuity and life insurance contracts, and agreements related to reinsurance, cost sharing, tax sharing, administrative services, marketing, intercompany loans, intercompany repurchases, cash management services and software licensing. In addition, several benefit plans sponsored by NMIC are available to Nationwide employees, for which the Company has no legal obligations. Measures used to determine the allocation among companies includes individual employee estimates of time spent, special cost studies, the number of full-time employees and other methods agreed to by the participating companies in conformity with NAIC statutory accounting principles. In addition, the Company may underwrite insurance policies for its officers, directors, and/or other personnel providing services to the Company. The Company may offer discounts on certain products that are subject to applicable state insurance laws and approvals.

Affiliate receivables and payables are the result of cost sharing and intercompany service agreements between the Company and its affiliates in which settlement has not yet occurred. Affiliate receivables are presented net of affiliate payables when the Company has the right to offset. The gross amounts due from affiliates were $19 million and $226 million as of December 31, 2023 and 2022, respectively, and are included in other assets in the Company’s statutory statements of admitted assets, liabilities, capital and surplus. The gross amounts due to affiliates were $133 million and $177 million as of December 31, 2023 and 2022, respectively, and are included in other liabilities in the Company’s statutory statements of admitted assets, liabilities, capital and surplus. These arrangements are subject to written agreements which require that intercompany balances be settled within a certain time period, generally 30 to 60 days.

In addition, Nationwide Services Company, LLC (“NSC”), a subsidiary of NMIC, provided data processing, systems development, hardware and software support, telephone, mail and other services to the Company, based on specified rates for units of service consumed pursuant to the enterprise cost sharing agreement. As of January 1, 2022 NSC merged into NNOV8, LLC, a subsidiary of NMIC, and all services going forward were provided by NMIC. For the years ended December 31, 2023 and 2022, the Company was allocated costs from NMIC totaling $245 million and $285 million, respectively. For the year ended December 31, 2021, the Company was allocated costs from NMIC and NSC totaling $288 million.

The Company has issued group annuity and life insurance contracts and performs administrative services for various employee benefit plans sponsored by NMIC or its affiliates. Total account values of these contracts were $3.4 billion and $3.7 billion as of December 31, 2023 and 2022, respectively. Total revenues from these contracts were $125 million, $127 million and $121 million for the years ended December 31, 2023, 2022 and 2021, respectively, and include policy charges, net investment income from investments backing the contracts and administrative fees. Total interest credited to the account balances were $84 million, $87 million and $113 million for the years ended December 31, 2023, 2022 and 2021, respectively.

F-43

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The Company receives an annual fee payable from the Tax Credit Funds, for which it is a guarantor and Managing Member, for its services in connection with the oversight of the performance of the Investee Partnerships and the compliance by their managing members and managing agents thereof with the provisions of the various operating level agreements and applicable laws. The amount the Company earned for the years ended December 31, 2023, 2022 and 2021 were immaterial.

Funds of Nationwide Funds Group (“NFG”), a group of Nationwide businesses that develops, sells and services mutual funds, are offered to the Company’s customers as investment options in certain of the Company’s products. As of December 31, 2023 and 2022, customer allocations to NFG funds totaled $63.9 billion and $63.0 billion, respectively. For the years ended December 31, 2023, 2022 and 2021, NFG paid the Company $234 million, $242 million and $265 million, respectively, for the distribution and servicing of these funds.

Amounts on deposit with NCMC for the benefit of the Company were $1.3 billion and $1.0 billion as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, amounts on deposit with NCMC were comprised of $1.0 billion and $883 million, respectively, of cash equivalents, with remaining amounts in short-term investments.

Certain annuity products are sold through affiliated companies, which are also subsidiaries of NFS. Total commissions and fees paid to these affiliates for the years ended December 31, 2023, 2022 and 2021 was $63 million, $112 million and $74 million, respectively.

The Company provides commercial mortgage loans to subsidiaries of Nationwide Realty Investors, LTD, a subsidiary of NMIC with interest rates ranging from 3.62% to 4.90% and maturity dates ranging from January 2031 to July 2041. As of December 31, 2023 and 2022, the Company had $304 million and $338 million, respectively, outstanding under these arrangements.

The Company also participates in intercompany repurchase agreements with affiliates whereby the seller transfers securities to the buyer at a stated value. Upon demand or after a stated period, the seller repurchases the securities from the buyer at the original sales price plus interest. As of December 31, 2023 and 2022, the Company had no outstanding borrowings from affiliated entities under such agreements. The amounts the Company incurred for interest expense on intercompany repurchase agreements during 2023, 2022 and 2021 were immaterial.

During 2023, the Company received capital contributions of $135 million from NFS. During 2024, the Company received an additional capital contribution of $30 million from NFS. During 2022, the Company received capital contributions of $310 million from NFS.

During 2023, there were no capital contributions paid to NLAIC by the Company. During 2024, the Company has paid capital contributions to NLAIC of $100 million as of the subsequent event date. During 2022 and 2021, the Company paid capital contributions of $800 million and $400 million, respectively, to NLAIC. In addition, the Company contributed $60 million to NLAIC in connection with the January 1, 2022 merger of HLIC.

The Company has a replacement unsecured promissory note and revolving line of credit agreement with JNLNY whereby JNLNY can borrow up to $5 million. No amounts have been drawn on the note as of December 31, 2023 or through the subsequent event date.

Pursuant to financial support agreements, the Company has agreed to provide NLAIC and JNL with the minimum capital and surplus required by each state in which NLAIC and JNL does business. These agreements do not constitute the Company as guarantor of any obligation or indebtedness of NLAIC or JNL or provide any creditor of NLAIC or JNL with recourse to or against any of the assets of the Company.

F-44

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

Eagle’s surplus position is evaluated quarterly to determine if an additional surplus contribution is required from the Company or if a distribution to the Company can be declared as of each quarter end. During 2023 and 2022, the Company made surplus contributions to Eagle. On September 29, 2023, the Company made a surplus contribution to Eagle of $10 million. On June 30, 2022 and July 19, 2022, the Company made surplus contributions to Eagle of $225 million and $1 million, respectively. During 2023 and 2022 Eagle declared distributions to the Company based on their earned surplus position. On February 9, 2024, the Company received a total distribution of $421 million that was declared on December 29, 2023 and consisted of a return of contributed surplus of $10 million and a dividend of $411 million. The return of contributed surplus receivable was recorded in other invested assets and the dividend receivable was recorded in investment income due and accrued as of December 31, 2023. On August 10, 2023, the Company received a dividend distribution of $205 million that was declared on June 30, 2023. On May 9, 2023, the Company received a dividend distribution of $204 million that was declared on March 31, 2023. On February 10, 2023, the Company received a total distribution of $332 million that was declared on December 30, 2022 and consisted of a return of contributed surplus of $221 million and a dividend of $111 million. The return of contributed surplus receivable was recorded in other invested assets and the dividend receivable was recorded in investment income due and accrued as of December 31, 2022. On November 10, 2022, the Company received a return of contributed surplus distribution of $5 million that was declared on September 30, 2022. On May 10, 2022, the Company received a dividend distribution of $19 million that was declared on March 31, 2022. On February 10, 2022, the Company received a dividend distribution of $168 million that was declared on December 31, 2021.

On December 22, 2021, the Company and NLAIC entered into a short-term loan where NLAIC borrowed $80 million from the Company. NLAIC repaid the short-term loan in full on January 4, 2022.

In March 2022, the Company executed a $850 million unsecured promissory note and revolving line of credit agreement with Nationwide SBL, LLC (“NWSBL”), an affiliate, at an interest rate of 1-month LIBOR plus 1.25% with a maturity date of March 1, 2023. As of December 31, 2022 NWSBL had outstanding borrowings of $168 million. During 2023, additional draws increased the outstanding balance to $198 million when, on March 1, 2023, the outstanding balance was repaid and a replacement agreement was entered into at an interest rate of 1-month SOFR plus 0.9% and a maturity date of February 28, 2024. As of December 31, 2023, NWSBL had outstanding borrowings of $328 million. During 2024, additional draws increased the outstanding balance to $363 million when, on February 28, 2024, the outstanding balance was repaid and a replacement agreement was entered into at an interest rate of 1-month SOFR plus 0.9% and a maturity date of February 27, 2025 with an initial draw of $363 million. Subsequently, additional draws have increased the outstanding balance to $381 million as of the subsequent event date.

During 2022, the Company and NMIC entered into unsecured promissory note agreements. On August 11, 2022, NMIC borrowed $50 million from the Company and subsequently repaid the note in full on August 15, 2022. On September 8, 2022, NMIC borrowed $150 million from the Company and subsequently repaid the note in full on September 15, 2022.

The Company utilizes the look-through approach in valuing its investment in Nationwide Real Estate Investors (NLIC), LLC (“NW REI (NLIC)”), a subsidiary of NMIC, at $251 million and $140 million as of December 31, 2023 and 2022, respectively. NW REI (NLIC)’s financial statements are not audited and the Company has limited the value of its investment in NW REI (NLIC) to the value contained in the audited financial statements of the underlying investments. All liabilities, commitments, contingencies, guarantees or obligations of the NW REI (NLIC), which are required under applicable accounting guidance, are reflected in the Company’s determination of the carrying value of the investment in NW REI (NLIC), if not already recorded in the financial statements of NW REI (NLIC).

(13) Contingencies

Legal and Regulatory Matters

The Company is subject to legal and regulatory proceedings in the ordinary course of its business. These include proceedings specific to the Company and proceedings generally applicable to business practices in the industries in which the Company operates. The outcomes of these proceedings cannot be predicted due to their complexity, scope, and many uncertainties. The Company believes, however, that based on currently known information, the ultimate outcome of all pending legal and regulatory proceedings is not likely to have a material adverse effect on the Company’s financial condition.

F-45

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Notes to December 31, 2023, 2022 and 2021 Statutory Financial Statements

The various businesses conducted by the Company are subject to oversight by numerous federal and state regulatory entities, including but not limited to the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Department of Labor, the IRS, the Office of the Comptroller of the Currency and state insurance authorities. Such regulatory entities may, in the normal course of business, be engaged in general or targeted inquiries, examinations and investigations of the Company and/or its affiliates. With respect to all such scrutiny directed at the Company or its affiliates, the Company is cooperating with regulators.

Guarantees

In accordance with SSAP No. 5R, Liabilities, Contingencies and Impairments of Assets, for all guarantees made to or on behalf of wholly-owned subsidiaries, no initial liability recognition has been made and there is no net financial statement impact related to these guarantees.

The contractual obligations under NLAIC’s single premium deferred annuity (“SPDA”) contracts in force and issued before September 1, 1988 are guaranteed by the Company. Total SPDA contracts affected by this guarantee in force were immaterial as of December 31, 2023 and 2022.

The Company has guaranteed the obligations and liabilities of NISC, including, without limitation, the full and prompt payment of all accounts payable to any party now or in the future. If for any reason NISC fails to satisfy any of its obligations, the Company will cause such obligation, loss or liability to be fully satisfied.

Indemnifications

In the normal course of business, the Company provides standard indemnifications to contractual counterparties. The types of indemnifications typically provided include breaches of representations and warranties, taxes and certain other liabilities, such as third-party lawsuits. The indemnification clauses are often standard contractual terms and are entered into in the normal course of business based on an assessment that the risk of loss would be remote. The terms of the indemnifications vary in duration and nature. In many cases, the maximum obligation is not explicitly stated, and the contingencies triggering the obligation to indemnify have not occurred and are not expected to occur. Consequently, the amount of the obligation under such indemnifications is not determinable. Historically, the Company has not made any material payments pursuant to these obligations.

(14) Regulatory Risk-Based Capital, Dividend Restrictions and Unassigned Surplus

The NAIC Risk-Based Capital (“RBC”) model law requires every insurer to calculate its total adjusted capital and RBC requirement to ensure insurer solvency. Regulatory guidelines provide for an insurance commissioner to intervene if the insurer experiences financial difficulty, as evidenced by a company’s total adjusted capital falling below established relationships to required RBC. The model includes components for asset risk, liability risk, interest rate exposure and other factors. The State of Ohio, where the Company is domiciled, imposes minimum RBC requirements that are developed by the NAIC. The formulas in the model for determining the amount of RBC specify various weighting factors that are applied to financial balances or various levels of activity based on the perceived degree of risk. Regulatory compliance is determined by a ratio of total adjusted capital to authorized control level RBC, as defined by the NAIC. Companies below specific trigger points or ratios are classified within certain levels, all of which require specified corrective action. The Company exceeded the minimum RBC requirements for all periods presented.

The State of Ohio insurance laws require insurers to seek prior regulatory approval to pay a dividend or distribution of cash or other property if the fair market value thereof, together with that of other dividends or distributions made in the preceding twelve months, exceeds the greater of (i) 10% of surplus as regards policyholders as of the prior December 31 or (ii) the net income of the insurer as of the prior year. No dividends were paid by the Company to NFS for the years ended December 31, 2023 and 2022. In March 2021, the Company paid an ordinary dividend of $550 million to NFS. The Company’s surplus as regards policyholders as of December 31, 2023, was $11.2 billion and statutory net income for 2023 was $949 million. As of January 1, 2024, the Company has the ability to pay dividends to NFS totaling $1.1 billion without obtaining prior approval.

The State of Ohio insurance laws also require insurers to seek prior regulatory approval for any dividend paid from other than earned capital and surplus. Earned capital and surplus is defined under the State of Ohio insurance laws as the amount equal to the Company’s unassigned funds as set forth in its most recent statutory financial statements, including net unrealized capital gains and losses or revaluation of assets. Additionally, following any dividend, an insurer’s policyholder capital and surplus must be reasonable in relation to the insurer’s outstanding liabilities and adequate for its financial needs. The payment of dividends by the Company may also be subject to restrictions set forth in the insurance laws of the State of New York that limit the amount of statutory profits on the Company’s participating policies (measured before dividends to policyholders) available for the benefit of the Company and its stockholders.

F-46

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Schedule I  Summary of Investments – Other Than Investments in Related Parties

As of December 31, 2023:

(in millions)	Column A	Column B		Column C		Column D
	Type of investment	Cost		Fair value		Amount at which is shown in the statutory statements of admitted assets, liabilities, capital and surplus
Bonds:
U.S. Treasury securities and obligations of U.S. government corporations		$	173	$	175	$	173
U.S. government and agencies			104		105		104
Obligations of states and political subdivisions			3,576		3,361		3,576
Foreign governments			342		321		342
Public utilities			4,758		4,410		4,736
All other corporate, mortgage-backed and asset-backed securities			35,011		33,102		34,936
Total fixed maturity securities		$	43,964	$	41,474	$	43,867
Equity securities:
Common Stocks:
Banks, trust and insurance companies			65		67		67
Industrial, miscellaneous and all other			164		164		164
Nonredeemable preferred stocks			42		46		46
Total equity securities1		$	271	$	277	$	277
Mortgage loans2			9,146				9,144
Short-term investments			1,555				1,555
Policy loans			970				969
Other long-term investments3			2,346				2,346
Total invested assets		$	58,252			$	58,158

1 Amount does not agree to the statutory statements of admitted assets, liabilities, capital and surplus as investments in related parties of $3.4 billion are excluded.

2 Difference from Column B is attributable to valuation allowances on mortgage loans (see Note 5 to the audited statutory financial statements).

3 Includes derivatives, securities lending reinvested collateral assets and other invested assets. Amount does not agree to the statutory statements of admitted assets, liabilities, capital and surplus as investments in related parties of $324 million are excluded.

See accompanying notes to statutory financial statements and report of independent registered public accounting firm.

F-47

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Schedule III Supplementary Insurance Information

As of December 31, 2023, 2022 and 2021 and for each of the years then ended (in millions):

Column A	Column B		Column C		Column D	Column E		Column F
Year: Segment	Deferred policy acquisition costs1		Future policy benefits, losses, claims and loss expenses		Unearned premiums2	Other policy claims and benefits payable2		Premium revenue
2023
Life Insurance			$	5,428				$	412
Annuities				15,213					7,368
Retirement Solutions				20,351					4,150
Corporate Solutions and Other				8,381					2,740
Total			$	49,373				$	14,670
2022
Life Insurance			$	5,353				$	415
Annuities				10,635					5,758
Retirement Solutions				21,824					5,097
Corporate Solutions and Other				7,670					3,265
Total			$	45,482				$	14,535
2021
Life Insurance			$	5,306				$	425
Annuities				8,026					6,512
Retirement Solutions				22,446					4,551
Corporate Solutions and Other				6,721					1,176
Total			$	42,499				$	12,664
Column A	Column G		Column H		Column I	Column J		Column K
Year: Segment	Net investment income3		Benefits, claims, losses and settlement expenses4		Amortization of deferred policy acquisition costs1	Other operating expenses		Premiums written
2023
Life Insurance	$	276	$	757		$	101
Annuities		613		13,619			158
Retirement Solutions		835		5,610			214
Corporate Solutions and Other		1,412		1,943			203
Total	$	3,136	$	21,929		$	676
2022
Life Insurance	$	261	$	730		$	105
Annuities		346		10,871			136
Retirement Solutions		860		6,178			120
Corporate Solutions and Other		552		1,519			174
Total	$	2,019	$	19,298		$	535
2021
Life Insurance	$	254	$	311		$	107
Annuities		337		9,411			41
Retirement Solutions		861		6,973			122
Corporate Solutions and Other		779		1,304			169
Total	$	2,231	$	17,999		$	439

1 Deferred policy acquisition costs and amortization of deferred policy acquisition costs are not applicable for statutory basis of accounting.

2 Unearned premiums and other policy claims and benefits payable are included in Column C amounts.

3 Allocations of net investment income and certain operating expenses are based on numerous assumptions and estimates and reported segment operating results would change if different methods were applied.

4 Benefits to policyholders and beneficiaries, increase in reserves for future policy benefits and claims and commissions are included in Column H amounts.

See accompanying notes to statutory financial statements and report of independent registered public accounting firm.

F-48

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Schedule IV  Reinsurance

As of December 31, 2023, 2022 and 2021 and each of the years then ended:

(in millions)
Column A	Column B		Column C			Column D		Column E
	Gross amount		Ceded to other companies			Assumed from other companies		Net amount
2023
Life insurance in force	$	147,725	$	(26,722	)	$	579	$	121,582
Premiums:
Life Insurance	$	2,931	$	(143	)	$	12	$	2,800
Accident and health insurance		457		(465	)		9		-
Total	$	3,388	$	(608	)	$	21	$	2,800
2022
Life insurance in force	$	145,173	$	(29,598	)	$	605	$	116,180
Premiums:
Life Insurance	$	3,473	$	(144	)	$	12	$	3,341
Accident and health insurance		425		(424	)		-		1
Total	$	3,898	$	(568	)	$	12	$	3,342
2021
Life insurance in force	$	144,115	$	(29,120	)	$	653	$	115,648
Premiums:
Life Insurance	$	1,624	$	(140	)	$	12	$	1,496
Accident and health insurance		445		(444	)		-		1
Total	$	2,069	$	(584	)	$	12	$	1,497

See accompanying notes to statutory financial statements and report of independent registered public accounting firm.

F-49

NATIONWIDE LIFE INSURANCE COMPANY

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Schedule V  Valuation and Qualifying Accounts

Years ended December 31, 2023, 2022 and 2021:

(in millions)
Column A	Column B		Column C			Column D			Column E
Description	Balance at beginning of period		Charged to costs and expenses			Deductions1			Balance at end of period
2023
Valuation allowances - mortgage loans2	$	1	$	1		$	-		$	2
2022
Valuation allowances - mortgage loans	$	43	$	(5	)	$	-		$	38
2021
Valuation allowances - mortgage loans	$	48	$	(4	)	$	(1	)	$	43

1 Amounts generally represent recoveries, payoffs and sales.

2 Effective January 1, 2023, the Company changed its method for reserving for mortgage loans. Refer to Note 5 for further discussion and the resulting impacts of the change.

See accompanying notes to statutory financial statements and report of independent registered public accounting firm.

F-50