NATIONWIDE VL

SEPARATE

ACCOUNT-C

Annual Report

To

Policyholders

December 31, 2021

NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY

HOME OFFICE: COLUMBUS, OHIO

Report of Independent Registered Public Accounting Firm

The Board of Directors of Nationwide Life and Annuity Insurance Company and

Contract Owners of Nationwide VL Separate Account-C:

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 VL Separate Account-C (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 8 (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 and 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 in Note 8, 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, 2021, 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 4, 2022

Appendix

Statement of assets, liabilities and contract owners’ equity as of December 31, 2021, 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 Growth and Income Portfolio: Class A (ALVGIA)

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

AMERICAN CENTURY INVESTORS, INC.

American Century Variable Portfolios, Inc. - American Century VP Capital Appreciation Fund: Class I (ACVCA)

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 Mid Cap Value Fund: Class I (ACVMV1)

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 FUNDS GROUP (THE)

American Funds Insurance Series(R) - Growth Fund: Class 2 (AMVGR2)

American Funds Insurance Series(R) - International Fund: Class 2 (AMVI2)

AMUNDI US

Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class I (PIHYB1)

BLACKROCK FUNDS

BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class II (MLVLC2)

BNY MELLON INVESTMENT MANAGEMENT

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

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

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

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

CALVERT GROUP

Calvert VP S&P 500 Index Portfolio (CVSPIP)

FEDERATED HERMES, INC.

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

FIDELITY INVESTMENTS

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

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

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 (FMCS)

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

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

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

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)

3

GOLDMAN SACHS ASSET MANAGEMENT GROUP

Goldman Sachs Variable Insurance Trust - Goldman Sachs Mid Cap Value Fund: Institutional Shares (GVMCE)

INVESCO INVESTMENTS

Invesco - Invesco V.I. International Growth Fund: Series I Shares (AVIE)

Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series I (OVAG)¹

Invesco - Invesco V.I. Main Street Fund: Series I (OVGI)¹

Invesco - Invesco V.I. Capital Appreciation Fund: Series I (OVGR)¹

Invesco - Invesco V.I. Global Fund: Series I (OVGS)¹

IVY INVESTMENTS

Ivy Variable Insurance Portfolios - Delaware Ivy Mid Cap Growth: Class II (WRMCG)¹

Ivy Variable Insurance Portfolios - Delaware Ivy Securian Real Estate Securities: Class II (WRRESP)¹

J.P. MORGAN INVESTMENT MANAGEMENT INC.

JPMorgan Insurance Trust - JPMorgan Insurance Trust Mid Cap Value Portfolio: Class 1 (JPMMV1)

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 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)

LINCOLN FUNDS

Lincoln Variable Insurance Products Trust - Baron Growth Opportunities Fund: Service Class (BNCAI)

LORD ABBETT FUNDS

Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)

Lord Abbett Series Fund, Inc. – Mid Cap Stock Portfolio: Class VC (LOVMCV)

MASSACHUSETTS FINANCIAL SERVICES CO.

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

MFS(R) Variable Insurance Trust II - MFS Blended Research(R) Core Equity Portfolio: Service Class (MVBRES)

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

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. - 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 BlackRock Equity Dividend Fund: Class I (EIF)¹

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

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

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

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

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

Nationwide Variable Insurance Trust - NVIT International Index Fund: Class II (GVIX2)

Nationwide Variable Insurance Trust - NVIT Federated High Income Bond Fund: Class I (HIBF)¹

4

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

Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)¹

Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class I (NVBX)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Conservative Fund: Class I (NVCCN1)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Aggressive Fund: Class I (NVCMA1)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Conservative Fund: Class I (NVCMC1)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderate Fund: Class I (NVCMD1)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Aggressive Fund: Class I (NVCRA1)

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

Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class I (NVMMG1)¹

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class I (NVOLG1)¹

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

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

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

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

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class V (SAM5)

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

NEUBERGER & BERMAN MANAGEMENT, INC.

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

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

PIMCO FUNDS

PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)

PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)

PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)

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

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

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 Blue Chip Growth Portfolio (TRBCGP)

T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)

T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited-Term Bond Portfolio (TRLT1)

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

T. Rowe Price Equity Series, Inc. - T. Rowe Price All-Cap Opportunities Portfolio (TRNAG1)¹

VAN ECK ASSOCIATES CORPORATION

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

VanEck VIP Trust - Global Resources Fund: Initial Class (VWHA)¹

WELLS FARGO FUNDS

Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)¹

5

Statement of assets, liabilities and contract owners’ equity as of December 31, 2021, 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, 2021 and the period from September 11, 2020 (inception) to December 31, 2020.

NATIONWIDE FUNDS GROUP

Nationwide Variable Insurance Trust – NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)¹

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

6

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2021

Subaccount*,**,***	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity
ALVGIA		675	$	20,074	$	24,860	$	-	$	24,860	$	5	$	24,855
ALVIVA		16,965		267,109		266,683		-		266,683		-		266,683
ACVCA		9		121		159		29		188		-		188
ACVI		95		1,425		1,404		11		1,415		-		1,415
ACVIG		60,939		565,122		653,268		20		653,288		-		653,288
ACVMV1		7,682		138,791		192,199		-		192,199		4		192,195
ACVU1		1,358		26,122		42,599		-		42,599		22		42,577
ACVV		6,227		76,112		85,119		20		85,139		-		85,139
AMVGR2		7,798		743,338		984,705		9		984,714		-		984,714
AMVI2		7,498		178,624		169,464		-		169,464		-		169,464
PIHYB1		1,355		11,974		12,658		-		12,658		4		12,654
MLVLC2		128		3,309		2,728		-		2,728		21		2,707
DCAP		19,006		757,266		1,021,018		29		1,021,047		-		1,021,047
DSIF		243,213		12,816,815		18,924,368		9		18,924,377		-		18,924,377
DSRG		143		5,140		8,330		4		8,334		-		8,334
DVSCS		177,686		2,700,031		4,184,508		-		4,184,508		31		4,184,477
CVSPIP		23,142		3,350,550		4,631,500		5		4,631,505		-		4,631,505
FQB		75		807		846		-		846		8		838
FCS		10,383		523,027		560,692		9		560,701		-		560,701
FEIS		1,433		32,125		37,221		-		37,221		312		36,909
FGOS		8,727		341,986		689,923		-		689,923		30		689,893
FGS		58,045		4,273,797		5,903,140		22		5,903,162		-		5,903,162
FHIS		1,484		7,737		7,732		6		7,738		-		7,738
FIGBS		12,190		165,711		160,664		-		160,664		5		160,659
FMCS		4,287		187,803		174,190		-		174,190		18		174,172
FOS		2,881		64,378		83,924		13		83,937		-		83,937
FVSS		162		2,248		2,656		-		2,656		8		2,648
FTVSV2		132,029		1,644,599		2,315,793		10		2,315,803		-		2,315,803
TIF2		177		2,317		2,410		-		2,410		8		2,402
GVMCE		2,213		35,987		43,188		8		43,196		-		43,196
AVIE		92		3,380		3,800		-		3,800		3		3,797
OVAG		94		7,568		10,802		22		10,824		-		10,824
OVGI		31		863		1,109		-		1,109		4		1,105
OVGR		9,632		593,828		788,476		-		788,476		8		788,468
OVGS		13,058		574,757		747,162		7		747,169		-		747,169
WRMCG		19,740		280,974		352,203		28		352,231		-		352,231
WRRESP		4,189		33,138		40,917		17		40,934		-		40,934
JPMMV1		45,664		452,185		609,162		16		609,178		-		609,178
JABS		5,452		223,746		289,735		6		289,741		-		289,741
JACAS		665		26,249		37,643		8		37,651		-		37,651
JAGTS		3,956		41,941		82,723		-		82,723		16		82,707
JAIGS		27,488		863,880		1,127,558		11		1,127,569		-		1,127,569
LZREMS		1,586		35,559		34,664		5		34,669		-		34,669
BNCAI		565		35,674		51,766		36		51,802		-		51,802
LOVBD		37,334		435,650		459,209		9		459,218		-		459,218
LOVMCV		-		1		2		-		2		2		-
MV2RIS		5,341		86,548		100,625		-		100,625		4		100,621
MVBRES		22,845		1,095,558		1,546,861		7		1,546,868		-		1,546,868
MVFSC		53,207		1,015,018		1,285,492		11		1,285,503		-		1,285,503
MVIVSC		20,741		611,764		766,588		-		766,588		8		766,580
MSEM		1,350		10,114		9,721		-		9,721		8		9,713
MSVMG		63		925		1,075		23		1,098		-		1,098
MSVRE		2,680		55,785		62,891		57		62,948		-		62,948

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2021

Subaccount*,**,***	Shares		Cost		Investments, at fair value		Accounts Receivable		Total Assets		Accounts Payable		Contract Owners’ Equity
EIF		38		624		873		-		873		17		856
GBF		47,565		525,229		517,032		13		517,045		-		517,045
GEM		8		116		107		-		107		4		103
GIG		66,858		640,974		852,439		-		852,439		7		852,432
GVDMA		-		2		3		-		3		3		-
GVIDM		29,529		337,952		388,009		4		388,013		-		388,013
HIBF		176,633		1,176,929		1,156,948		5		1,156,953		-		1,156,953
MCIF		338,281		6,433,658		9,360,224		-		9,360,224		47		9,360,177
MSBF		328		2,913		3,004		-		3,004		12		2,992
NVAMVX		341		4,382		6,768		-		6,768		6		6,762
NVBX		725,270		8,032,253		7,753,140		-		7,753,140		1		7,753,139
NVCCN1		1,404		14,309		15,934		-		15,934		7		15,927
NVCMA1		2,699		25,166		30,312		7		30,319		-		30,319
NVCMC1		305		3,258		3,686		8		3,694		-		3,694
NVCMD1		48		532		592		9		601		-		601
NVCRA1		9		87		119		6		125		-		125
NVMLG1		4,850		50,427		50,824		9		50,833		-		50,833
NVMMG1		85		925		984		-		984		12		972
NVOLG1		201		3,425		4,838		3		4,841		-		4,841
SAM5		99,730,017		99,730,017		99,730,017		-		99,730,017		9		99,730,008
SCF		39,385		658,108		1,019,680		52		1,019,732		-		1,019,732
SCGF		33		554		654		-		654		18		636
SCVF		1,048		11,701		12,135		-		12,135		26		12,109
TRF		10,461		128,089		284,749		-		284,749		8		284,741
AMCG		15		635		622		34		656		-		656
AMSRS		23,603		621,213		874,023		5		874,028		-		874,028
PMVAAA		1,720		16,656		19,796		-		19,796		10		19,786
PMVHYA		36,955		288,111		293,424		23		293,447		-		293,447
PMVLDA		65,708		682,030		672,192		23		672,215		-		672,215
PMVRRA		28,645		395,263		400,744		63		400,807		-		400,807
PMVTRA		558,544		6,193,300		6,009,933		-		6,009,933		14		6,009,919
ROCMC		8,168		118,929		120,640		17		120,657		-		120,657
TRBCGP		9,367		371,333		497,577		20		497,597		-		497,597
TREI2		7,715		201,216		230,759		47		230,806		-		230,806
TRLT1		1,027,032		5,120,260		5,042,729		-		5,042,729		1		5,042,728
TRMCG2		12,591		349,961		406,955		55		407,010		-		407,010
TRNAG1		133		3,973		5,144		33		5,177		-		5,177
VWEM		30,909		405,205		445,092		-		445,092		26		445,066
VWHA		68		1,158		1,817		-		1,817		28		1,789
SVOF		20		667		703		9		712		-		712
Total (unaudited)					$	185,813,354	$	912	$	185,814,266	$	785	$	185,813,481

* 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 or the balances are minimal and round to $0. See note 1(b) for all investments available for which no policyholders were invested at December 31, 2021, if applicable.

*** If zero shares are listed, there is ownership of the fund, however it is less than one full share.

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2021

Investment Activity*:	Total (unaudited)			ALVGIA			ALVIVA			ACVCA			ACVI			ACVIG			ACVMV1			ACVU1
Reinvested dividends	$	1,016,426			190			5,403			-			2			6,610			2,108			-
Mortality and expense risk charges (note 3)		(186,362	)		(23	)		(444	)		-			(1	)		(612	)		(182	)		(39	)
Net investment income (loss)		830,064			167			4,959			-			1			5,998			1,926			(39	)
Realized gain (loss) on investments		5,742,309			(5	)		22,755			2			618			990			1,554			291
Change in unrealized gain (loss) on investments		3,686,394			5,316			(12,350	)		(4	)		(569	)		30,751			33,300			5,271
Net gain (loss) on investments		9,428,703			5,311			10,405			(2	)		49			31,741			34,854			5,562
Reinvested capital gains		4,132,495			-			-			19			40			87,234			-			2,531
Net increase (decrease) in contract owners’ equity resulting from operations	$	14,391,262			5,478			15,364			17			90			124,973			36,780			8,054
Investment Activity*:	ACVV			AMVGR2			AMVI2			PIHYB1			MLVLC2			DCAP			DSIF			DSRG
Reinvested dividends	$	3,263			2,675			4,301			649			33			4,003			220,414			58
Mortality and expense risk charges (note 3)		(166	)		(1,360	)		(306	)		(12	)		(3	)		(920	)		(20,365	)		(7	)
Net investment income (loss)		3,097			1,315			3,995			637			30			3,083			200,049			51
Realized gain (loss) on investments		29,876			402,008			13,335			28			-			1,631			1,811,121			98
Change in unrealized gain (loss) on investments		(2,117	)		(333,976	)		(20,727	)		27			(603	)		129,089			1,970,429			1,490
Net gain (loss) on investments		27,759			68,032			(7,392	)		55			(603	)		130,720			3,781,550			1,588
Reinvested capital gains		-			218,831			-			-			1,185			84,000			968,102			169
Net increase (decrease) in contract owners’ equity resulting from operations	$	30,856			288,178			(3,397	)		692			612			217,803			4,949,701			1,808

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2021

Investment Activity*:	DVSCS			CVSPIP			FQB			FCS			FEIS			FGOS			FGS			FHIS
Reinvested dividends	$	31,390			56,150			22			121			675			-			-			404
Mortality and expense risk charges (note 3)		(4,555	)		(4,209	)		(1	)		(828	)		(35	)		(689	)		(5,834	)		(7	)
Net investment income (loss)		26,835			51,941			21			(707	)		640			(689	)		(5,834	)		397
Realized gain (loss) on investments		610,656			41,306			3			63,125			521			4,857			388,922			(18	)
Change in unrealized gain (loss) on investments		361,084			744,266			(45	)		(10,164	)		2,417			8,690			(396,097	)		(45	)
Net gain (loss) on investments		971,740			785,572			(42	)		52,961			2,938			13,547			(7,175	)		(63	)
Reinvested capital gains		64,276			204,585			8			53,100			4,160			60,010			1,211,501			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	1,062,851			1,042,098			(13	)		105,354			7,738			72,868			1,198,492			334
Investment Activity*:	FIGBS			FMCS			FOS			FVSS			FTVSV2			TIF2			GVMCE			AVIE
Reinvested dividends	$	2,897			852			351			36			24,400			47			188			49
Mortality and expense risk charges (note 3)		(119	)		(262	)		(82	)		(3	)		(2,433	)		(3	)		(40	)		(4	)
Net investment income (loss)		2,778			590			269			33			21,967			44			148			45
Realized gain (loss) on investments		367			20,231			192			7			80,035			9			372			35
Change in unrealized gain (loss) on investments		(7,756	)		(23,167	)		7,398			436			361,574			48			4,386			(122	)
Net gain (loss) on investments		(7,389	)		(2,936	)		7,590			443			441,609			57			4,758			(87	)
Reinvested capital gains		3,672			26,164			5,877			210			64,609			-			5,538			258
Net increase (decrease) in contract owners’ equity resulting from operations	$	(939	)		23,818			13,736			686			528,185			101			10,444			216

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2021

Investment Activity*:	OVAG			OVGI			OVGR			OVGS			WRMCG			WRRESP			JPMMV1			JABS
Reinvested dividends	$	-			7			-			-			-			317			7,144			1,814
Mortality and expense risk charges (note 3)		(11	)		(1	)		(809	)		(1,171	)		(549	)		(35	)		(728	)		(277	)
Net investment income (loss)		(11	)		6			(809	)		(1,171	)		(549	)		282			6,416			1,537
Realized gain (loss) on investments		202			10			83,719			295,035			170,039			(187	)		53,455			1,665
Change in unrealized gain (loss) on investments		467			170			39,701			(130,342	)		(154,061	)		12,075			106,662			36,803
Net gain (loss) on investments		669			180			123,420			164,693			15,978			11,888			160,117			38,468
Reinvested capital gains		1,111			59			39,798			44,887			80,556			534			39,356			1,992
Net increase (decrease) in contract owners’ equity resulting from operations	$	1,769			245			162,409			208,409			95,985			12,704			205,889			41,997
Investment Activity*:	JACAS			JAGTS			JAIGS			LZREMS			BNCAI			LOVBD			MV2RIS			MVBRES
Reinvested dividends	$	-			91			11,395			652			-			13,947			669			12,910
Mortality and expense risk charges (note 3)		(35	)		(80	)		(1,197	)		(59	)		(48	)		(464	)		(99	)		(1,412	)
Net investment income (loss)		(35	)		11			10,198			593			(48	)		13,483			570			11,498
Realized gain (loss) on investments		299			2,865			1,881			1,739			160			2,084			614			13,885
Change in unrealized gain (loss) on investments		2,335			(500	)		119,718			(1,710	)		6,912			(8,466	)		4,253			230,916
Net gain (loss) on investments		2,634			2,365			121,599			29			7,072			(6,382	)		4,867			244,801
Reinvested capital gains		4,404			10,420			-			-			1,137			7,379			4,812			98,272
Net increase (decrease) in contract owners’ equity resulting from operations	$	7,003			12,796			131,797			622			8,161			14,480			10,249			354,571

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2021

Investment Activity*:	MVFSC			MVIVSC			MSEM			MSVMG			MSVRE			EIF			GBF			GEM
Reinvested dividends	$	16,019			1,265			511			-			1,186			11			8,710			542
Mortality and expense risk charges (note 3)		(1,460	)		(1,221	)		(10	)		(1	)		(101	)		(1	)		(915	)		(14	)
Net investment income (loss)		14,559			44			501			(1	)		1,085			10			7,795			528
Realized gain (loss) on investments		104,125			302,153			(4	)		45			10,645			11			(4,779	)		(3,873	)
Change in unrealized gain (loss) on investments		180,786			(197,578	)		(716	)		(637	)		5,177			122			(9,555	)		(27	)
Net gain (loss) on investments		284,911			104,575			(720	)		(592	)		15,822			133			(14,334	)		(3,900	)
Reinvested capital gains		31,486			24,527			-			461			-			9			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	330,956			129,146			(219	)		(132	)		16,907			152			(6,539	)		(3,372	)
Investment Activity*:	GIG			GVIDM			HIBF			MCIF			MSBF			NVAMVX			NVBX			NVCCN1
Reinvested dividends	$	21,592			724			54,560			108,906			166			84			162,870			34
Mortality and expense risk charges (note 3)		(848	)		(398	)		(1,268	)		(10,261	)		(3	)		(7	)		(7,150	)		(15	)
Net investment income (loss)		20,744			326			53,292			98,645			163			77			155,720			19
Realized gain (loss) on investments		8,487			96			(503	)		686,522			13			85			92,081			46
Change in unrealized gain (loss) on investments		68,328			31,348			471			1,279,562			(23	)		1,621			(422,211	)		587
Net gain (loss) on investments		76,815			31,444			(32	)		1,966,084			(10	)		1,706			(330,130	)		633
Reinvested capital gains		-			4,328			-			173,588			-			-			33,478			36
Net increase (decrease) in contract owners’ equity resulting from operations	$	97,559			36,098			53,260			2,238,317			153			1,783			(140,932	)		688

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2021

Investment Activity*:	NVCMA1			NVCMC1			NVCMD1			NVCRA1			NVMLG1			NVMMG1			NVOLG1			SAM5
Reinvested dividends	$	71			9			2			-			-			1			21			24
Mortality and expense risk charges (note 3)		(29	)		(4	)		-			-			(44	)		(1	)		(4	)		(95,525	)
Net investment income (loss)		42			5			2			-			(44	)		-			17			(95,501	)
Realized gain (loss) on investments		(170	)		12			(1	)		1			(519	)		11			51			-
Change in unrealized gain (loss) on investments		4,885			299			72			19			7,727			(199	)		1,002			-
Net gain (loss) on investments		4,715			311			71			20			7,208			(188	)		1,053			-
Reinvested capital gains		-			1			-			-			7,665			139			75			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	4,757			317			73			20			14,829			(49	)		1,145			(95,501	)
Investment Activity*:	SCF			SCGF			SCVF			TRF			AMCG			AMSRS			PMVAAA			PMVHYA
Reinvested dividends	$	-			-			-			2,048			-			3,076			2,148			12,358
Mortality and expense risk charges (note 3)		(1,298	)		(1	)		(11	)		(258	)		-			(801	)		(19	)		(277	)
Net investment income (loss)		(1,298	)		(1	)		(11	)		1,790			-			2,275			2,129			12,081
Realized gain (loss) on investments		167,029			4			(197	)		1,614			(346	)		1,389			211			612
Change in unrealized gain (loss) on investments		193,835			4			3,245			35,624			(234	)		146,607			501			(2,947	)
Net gain (loss) on investments		360,864			8			3,048			37,238			(580	)		147,996			712			(2,335	)
Reinvested capital gains		10,691			56			-			12,029			590			15,730			-			-
Net increase (decrease) in contract owners’ equity resulting from operations	$	370,257			63			3,037			51,057			10			166,001			2,841			9,746

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF OPERATIONS

YEAR ENDED DECEMBER 31, 2021

Investment Activity*:	PMVLDA			PMVRRA			PMVTRA			ROCMC			TRBCGP			TREI2			TRLT1			TRMCG2
Reinvested dividends	$	3,960			30,545			109,931			-			-			3,008			51,057			-
Mortality and expense risk charges (note 3)		(925	)		(633	)		(6,220	)		(211	)		(608	)		(457	)		(3,927	)		(396	)
Net investment income (loss)		3,035			29,912			103,711			(211	)		(608	)		2,551			47,130			(396	)
Realized gain (loss) on investments		(6,725	)		49,298			6,295			22,115			117,806			259			57,957			2,342
Change in unrealized gain (loss) on investments		(3,860	)		(46,801	)		(449,328	)		(6,797	)		(66,327	)		27,814			(145,781	)		7,608
Net gain (loss) on investments		(10,585	)		2,497			(443,033	)		15,318			51,479			28,073			(87,824	)		9,950
Reinvested capital gains		-			-			256,686			5,237			52,975			16,118			30,595			42,627
Net increase (decrease) in contract owners’ equity resulting from operations	$	(7,550	)		32,409			(82,636	)		20,344			103,846			46,742			(10,099	)		52,181
Investment Activity*:	TRNAG1			VWEM			VWHA			SVOF
Reinvested dividends	$	-			4,742			8			-
Mortality and expense risk charges (note 3)		(4	)		(516	)		(1	)		-
Net investment income (loss)		(4	)		4,226			7			-
Realized gain (loss) on investments		100			4,859			30			735
Change in unrealized gain (loss) on investments		(146	)		(81,051	)		263			(58	)
Net gain (loss) on investments		(46	)		(76,192	)		293			677
Reinvested capital gains		958			11,581			-			33
Net increase (decrease) in contract owners’ equity resulting from operations	$	908			(60,385	)		300			710

* For all subaccounts not included herein but listed as an investment option in note 1(b), there was no activity during the period or the activity is minimal and rounds to $0. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2021, if applicable.

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	Total (unaudited)						ALVGIA						ALVIVA						ACVCA
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	830,064			1,072,258			167			237			4,959			1,808			-			-
Realized gain (loss) on investments		5,742,309			(1,039,817	)		(5	)		(5,564	)		22,755			(5,625	)		2			-
Change in unrealized gain (loss) on investments		3,686,394			8,732,751			5,316			1,754			(12,350	)		10,913			(4	)		33
Reinvested capital gains		4,132,495			3,321,031			-			959			-			-			19			13
Net increase (decrease) in contract owners’ equity resulting from operations		14,391,262			12,086,223			5,478			(2,614	)		15,364			7,096			17			46
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		707,632			373,360			(1,209	)		(34	)		151,172			837			-			-
Transfers between funds		-			-			1,035			(32,165	)		(15,191	)		11,011			-			-
Surrenders (notes 2, 3, 4, 5 and 6)		(3,507,166	)		(3,056,421	)		(85	)		(306	)		(1,729	)		(4,016	)		(8	)		(7	)
Adjustments to maintain reserves		(7	)		1,154			(5	)		21			-			2			10			11
Net equity transactions		(2,799,541	)		(2,681,907	)		(264	)		(32,484	)		134,252			7,834			2			4
Net change in contract owners’ equity		11,591,721			9,404,316			5,214			(35,098	)		149,616			14,930			19			50
Contract owners’ equity at beginning of period		174,221,760			164,817,444			19,641			54,739			117,067			102,137			169			119
Contract owners’ equity at end of period	$	185,813,481			174,221,760			24,855			19,641			266,683			117,067			188			169
CHANGE IN UNITS:
Beginning units		10,380,908			10,317,422			431			1,254			12,030			10,733			3			3
Units purchased		1,529,076			6,891,308			-			187			16,659			1,794			-			-
Units surrendered		(747,180	)		(6,827,822	)		(5	)		(1,010	)		(3,969	)		(497	)		-			-
Ending units		11,162,804			10,380,908			426			431			24,720			12,030			3			3

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	ACVI						ACVIG						ACVMV1						ACVU1
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	1			3,390			5,998			8,658			1,926			2,366			(39	)		(42	)
Realized gain (loss) on investments		618			238,203			990			12,109			1,554			79			291			3,411
Change in unrealized gain (loss) on investments		(569	)		(285,523	)		30,751			9,339			33,300			(1,817	)		5,271			5,524
Reinvested capital gains		40			12,758			87,234			23,668			-			-			2,531			3,450
Net increase (decrease) in contract owners’ equity resulting from operations		90			(31,172	)		124,973			53,774			36,780			628			8,054			12,343
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		(6,992	)		(32	)		-			(318	)		-			-			-			6
Transfers between funds		658			(848,728	)		-			(55,016	)		-			-			-			(16,899	)
Surrenders (notes 2, 3, 4, 5 and 6)		6,283			(20,130	)		(4,533	)		(4,008	)		(5,844	)		(6,136	)		(852	)		(835	)
Adjustments to maintain reserves		11			(4	)		20			10			-			(5	)		(32	)		43
Net equity transactions		(40	)		(868,894	)		(4,513	)		(59,332	)		(5,844	)		(6,141	)		(884	)		(17,685	)
Net change in contract owners’ equity		50			(900,066	)		120,460			(5,558	)		30,936			(5,513	)		7,170			(5,342	)
Contract owners’ equity at beginning of period		1,365			901,431			532,828			538,386			161,259			166,772			35,407			40,749
Contract owners’ equity at end of period	$	1,415			1,365			653,288			532,828			192,195			161,259			42,577			35,407
CHANGE IN UNITS:
Beginning units		44			37,640			15,053			16,871			5,655			6,023			574			1,004
Units purchased		684			-			-			298			-			5,795			-			186
Units surrendered		(686	)		(37,596	)		(112	)		(2,116	)		(179	)		(6,163	)		(13	)		(616	)
Ending units		42			44			14,941			15,053			5,476			5,655			561			574

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	ACVV						AMVGR2						AMVI2						PIHYB1
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	3,097			1,317			1,315			1,508			3,995			324			637			640
Realized gain (loss) on investments		29,876			505			402,008			92,449			13,335			291			28			(19	)
Change in unrealized gain (loss) on investments		(2,117	)		(2,966	)		(333,976	)		423,275			(20,727	)		8,568			27			(380	)
Reinvested capital gains		-			1,547			218,831			29,580			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		30,856			403			288,178			546,812			(3,397	)		9,183			692			241
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		-			-			(189	)		1			94,886			483			-			-
Transfers between funds		-			-			(803,563	)		(200,150	)		(5,743	)		2,846			-			-
Surrenders (notes 2, 3, 4, 5 and 6)		(14,221	)		(1,952	)		(37,606	)		(15,585	)		(2,086	)		(2,814	)		(688	)		(849	)
Adjustments to maintain reserves		4			-			(17	)		19			6			(6	)		(13	)		(6	)
Net equity transactions		(14,217	)		(1,952	)		(841,375	)		(215,715	)		87,063			509			(701	)		(855	)
Net change in contract owners’ equity		16,639			(1,549	)		(553,197	)		331,097			83,666			9,692			(9	)		(614	)
Contract owners’ equity at beginning of period		68,500			70,049			1,537,911			1,206,814			85,798			76,106			12,663			13,277
Contract owners’ equity at end of period	$	85,139			68,500			984,714			1,537,911			169,464			85,798			12,654			12,663
CHANGE IN UNITS:
Beginning units		1,330			1,372			31,433			37,988			5,021			5,066			354			380
Units purchased		3,680			139			-			32,711			5,511			160			-			-
Units surrendered		(3,681	)		(181	)		(14,918	)		(39,266	)		(444	)		(205	)		(19	)		(26	)
Ending units		1,329			1,330			16,515			31,433			10,088			5,021			335			354

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	MLVLC2						DCAP						DSIF						DSRG
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	30			16			3,083			4,670			200,049			257,845			51			60
Realized gain (loss) on investments		-			(31	)		1,631			904			1,811,121			945,642			98			14
Change in unrealized gain (loss) on investments		(603	)		201			129,089			94,584			1,970,429			789,587			1,490			1,207
Reinvested capital gains		1,185			181			84,000			54,758			968,102			1,140,874			169			71
Net increase (decrease) in contract owners’ equity resulting from operations		612			367			217,803			154,916			4,949,701			3,133,948			1,808			1,352
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		-			-			(224	)		(20	)		157,539			4,132			-			-
Transfers between funds		-			-			190			(1,323	)		(5,476,322	)		(2,626,370	)		-			-
Surrenders (notes 2, 3, 4, 5 and 6)		(133	)		(147	)		(6,647	)		(5,677	)		(271,561	)		(296,564	)		(405	)		(418	)
Adjustments to maintain reserves		(3	)		(19	)		10			38			(29	)		113			2			(13	)
Net equity transactions		(136	)		(166	)		(6,671	)		(6,982	)		(5,590,373	)		(2,918,689	)		(403	)		(431	)
Net change in contract owners’ equity		476			201			211,132			147,934			(640,672	)		215,259			1,405			921
Contract owners’ equity at beginning of period		2,231			2,030			809,915			661,981			19,565,049			19,349,790			6,929			6,008
Contract owners’ equity at end of period	$	2,707			2,231			1,021,047			809,915			18,924,377			19,565,049			8,334			6,929
CHANGE IN UNITS:
Beginning units		57			62			18,724			18,855			478,765			540,231			212			228
Units purchased		-			-			780			587			23,213			520,219			-			-
Units surrendered		(3	)		(5	)		(842	)		(718	)		(141,109	)		(581,685	)		(11	)		(16	)
Ending units		54			57			18,662			18,724			360,869			478,765			201			212

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	DVSCS						CVSPIP						FQB						FCS
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	26,835			31,185			51,941			53,762			21			24			(707	)		(78	)
Realized gain (loss) on investments		610,656			(647,639	)		41,306			8,694			3			4			63,125			41,821
Change in unrealized gain (loss) on investments		361,084			855,641			744,266			536,144			(45	)		39			(10,164	)		13,652
Reinvested capital gains		64,276			207,711			204,585			110,358			8			3			53,100			1,105
Net increase (decrease) in contract owners’ equity resulting from operations		1,062,851			446,898			1,042,098			708,958			(13	)		70			105,354			56,500
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		(48,039	)		-			-			-			-			-			217,372			765
Transfers between funds		(1,197,864	)		(143,720	)		-			3,149,621			-			-			11,878			(76,176	)
Surrenders (notes 2, 3, 4, 5 and 6)		(49,685	)		(43,604	)		(167,597	)		(104,244	)		(48	)		(63	)		(6,546	)		(8,626	)
Adjustments to maintain reserves		(61	)		17			8			11			(6	)		9			32			(34	)
Net equity transactions		(1,295,649	)		(187,307	)		(167,589	)		3,045,388			(54	)		(54	)		222,736			(84,071	)
Net change in contract owners’ equity		(232,798	)		259,591			874,509			3,754,346			(67	)		16			328,090			(27,571	)
Contract owners’ equity at beginning of period		4,417,275			4,157,684			3,756,996			2,650			905			889			232,611			260,182
Contract owners’ equity at end of period	$	4,184,477			4,417,275			4,631,505			3,756,996			838			905			560,701			232,611
CHANGE IN UNITS:
Beginning units		90,121			95,468			169,432			141			33			35			3,816			5,393
Units purchased		741			99,254			-			350,642			-			-			3,507			161
Units surrendered		(23,116	)		(104,601	)		(6,618	)		(181,351	)		(2	)		(2	)		(95	)		(1,738	)
Ending units		67,746			90,121			162,814			169,432			31			33			7,228			3,816

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	FEIS						FGOS						FGS						FHIS
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	640			456			(689	)		(509	)		(5,834	)		(2,557	)		397			367
Realized gain (loss) on investments		521			(260	)		4,857			26,490			388,922			692,992			(18	)		(52	)
Change in unrealized gain (loss) on investments		2,417			187			8,690			201,620			(396,097	)		1,187,937			(45	)		(145	)
Reinvested capital gains		4,160			1,309			60,010			26,187			1,211,501			507,963			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		7,738			1,692			72,868			253,788			1,198,492			2,386,335			334			170
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		(5,622	)		-			-			(450	)		28			(426	)		-			-
Transfers between funds		7,517			-			-			(4,564	)		(717,227	)		(1,585,023	)		-			-
Surrenders (notes 2, 3, 4, 5 and 6)		(3,655	)		(1,950	)		(6,094	)		(4,785	)		(170,702	)		(134,973	)		(421	)		(534	)
Adjustments to maintain reserves		(297	)		(31	)		(36	)		(3	)		1			5			2			(7	)
Net equity transactions		(2,057	)		(1,981	)		(6,130	)		(9,802	)		(887,900	)		(1,720,417	)		(419	)		(541	)
Net change in contract owners’ equity		5,681			(289	)		66,738			243,986			310,592			665,918			(85	)		(371	)
Contract owners’ equity at beginning of period		31,228			31,517			623,155			379,169			5,592,570			4,926,652			7,823			8,194
Contract owners’ equity at end of period	$	36,909			31,228			689,893			623,155			5,903,162			5,592,570			7,738			7,823
CHANGE IN UNITS:
Beginning units		862			926			9,587			9,747			111,143			140,404			324			348
Units purchased		4,667			-			700			871			4,534			741			-			-
Units surrendered		(4,712	)		(64	)		(738	)		(1,031	)		(20,128	)		(30,002	)		(17	)		(24	)
Ending units		817			862			9,549			9,587			95,549			111,143			307			324

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	FIGBS						FMCS						FOS						FVSS
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	2,778			532			590			174			269			124			33			20
Realized gain (loss) on investments		367			135			20,231			410			192			360			7			(50	)
Change in unrealized gain (loss) on investments		(7,756	)		1,858			(23,167	)		9,437			7,398			11,350			436			67
Reinvested capital gains		3,672			10			26,164			-			5,877			213			210			99
Net increase (decrease) in contract owners’ equity resulting from operations		(939	)		2,535			23,818			10,021			13,736			12,047			686			136
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		5,168			62,919			77,642			525			(9,130	)		126			-			-
Transfers between funds		71,566			-			13,788			(6,080	)		8,607			39,464			-			-
Surrenders (notes 2, 3, 4, 5 and 6)		(4,855	)		(1,864	)		(1,959	)		(2,413	)		(374	)		(802	)		(135	)		(120	)
Adjustments to maintain reserves		(15	)		14			(30	)		5			1			18			(8	)		(6	)
Net equity transactions		71,864			61,069			89,441			(7,963	)		(896	)		38,806			(143	)		(126	)
Net change in contract owners’ equity		70,925			63,604			113,259			2,058			12,840			50,853			543			10
Contract owners’ equity at beginning of period		89,734			26,130			60,913			58,855			71,097			20,244			2,105			2,095
Contract owners’ equity at end of period	$	160,659			89,734			174,172			60,913			83,937			71,097			2,648			2,105
CHANGE IN UNITS:
Beginning units		4,534			1,441			1,489			1,695			2,592			855			53			57
Units purchased		3,899			3,191			1,954			16			1,182			2,345			-			-
Units surrendered		(248	)		(98	)		(42	)		(222	)		(1,272	)		(608	)		(3	)		(4	)
Ending units		8,185			4,534			3,401			1,489			2,502			2,592			50			53

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	FTVSV2						TIF2						GVMCE						AVIE
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	21,967			36,854			44			69			148			163			45			75
Realized gain (loss) on investments		80,035			(464,265	)		9			604			372			(309	)		35			-
Change in unrealized gain (loss) on investments		361,574			439,358			48			(865	)		4,386			2,038			(122	)		295
Reinvested capital gains		64,609			166,292			-			-			5,538			490			258			76
Net increase (decrease) in contract owners’ equity resulting from operations		528,185			178,239			101			(192	)		10,444			2,382			216			446
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		40,620			267			(2,099	)		-			-			-			-			-
Transfers between funds		(347,001	)		(524,893	)		1,996			(12,466	)		-			-			-			-
Surrenders (notes 2, 3, 4, 5 and 6)		(54,567	)		(50,133	)		(35	)		(176	)		(2,110	)		(2,064	)		(207	)		(227	)
Adjustments to maintain reserves		34			(26	)		4			7			(8	)		(8	)		(15	)		26
Net equity transactions		(360,914	)		(574,785	)		(134	)		(12,635	)		(2,118	)		(2,072	)		(222	)		(201	)
Net change in contract owners’ equity		167,271			(396,546	)		(33	)		(12,827	)		8,326			310			(6	)		245
Contract owners’ equity at beginning of period		2,148,532			2,545,078			2,435			15,262			34,870			34,560			3,803			3,558
Contract owners’ equity at end of period	$	2,315,803			2,148,532			2,402			2,435			43,196			34,870			3,797			3,803
CHANGE IN UNITS:
Beginning units		62,841			78,223			96			608			641			688			107			114
Units purchased		991			19			-			-			-			-			-			-
Units surrendered		(9,733	)		(15,401	)		(5	)		(512	)		(34	)		(47	)		(6	)		(7	)
Ending units		54,099			62,841			91			96			607			641			101			107

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	OVAG						OVGI						OVGR						OVGS
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	(11	)		(5	)		6			11			(809	)		(518	)		(1,171	)		5,869
Realized gain (loss) on investments		202			51			10			1			83,719			2,827			295,035			58,981
Change in unrealized gain (loss) on investments		467			2,134			170			16			39,701			86,783			(130,342	)		197,879
Reinvested capital gains		1,111			621			59			81			39,798			80,108			44,887			42,824
Net increase (decrease) in contract owners’ equity resulting from operations		1,769			2,801			245			109			162,409			169,200			208,409			305,553
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		-			-			(401	)		-			(79	)		27,964			(2,236	)		-
Transfers between funds		-			-			250			-			1,889			-			(813,785	)		(207,971	)
Surrenders (notes 2, 3, 4, 5 and 6)		(549	)		(534	)		96			(58	)		(34,560	)		(6,949	)		(33,779	)		(15,940	)
Adjustments to maintain reserves		7			4			8			(10	)		(8	)		(2	)		(3	)		(10	)
Net equity transactions		(542	)		(530	)		(47	)		(68	)		(32,758	)		21,013			(849,803	)		(223,921	)
Net change in contract owners’ equity		1,227			2,271			198			41			129,651			190,213			(641,394	)		81,632
Contract owners’ equity at beginning of period		9,597			7,326			907			866			658,817			468,604			1,388,563			1,306,931
Contract owners’ equity at end of period	$	10,824			9,597			1,105			907			788,468			658,817			747,169			1,388,563
CHANGE IN UNITS:
Beginning units		192			206			23			25			13,411			13,016			30,344			37,492
Units purchased		-			-			4			-			3,904			713			1,793			33,261
Units surrendered		(10	)		(14	)		(5	)		(2	)		(4,207	)		(318	)		(17,985	)		(40,409	)
Ending units		182			192			22			23			13,108			13,411			14,152			30,344

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	WRMCG						WRRESP						JPMMV1						JABS
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	(549	)		(1,148	)		282			468			6,416			9,554			1,537			3,131
Realized gain (loss) on investments		170,039			73,342			(187	)		(559	)		53,455			(27,986	)		1,665			6,969
Change in unrealized gain (loss) on investments		(154,061	)		120,487			12,075			(3,421	)		106,662			(61,090	)		36,803			14,337
Reinvested capital gains		80,556			41,867			534			2,276			39,356			45,922			1,992			3,454
Net increase (decrease) in contract owners’ equity resulting from operations		95,985			234,548			12,704			(1,236	)		205,889			(33,600	)		41,997			27,891
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		(255	)		-			-			-			(327	)		-			-			655
Transfers between funds		(415,891	)		(148,874	)		-			-			(313,430	)		(165,488	)		-			127,484
Surrenders (notes 2, 3, 4, 5 and 6)		(14,164	)		(7,244	)		(1,882	)		(2,043	)		(21,553	)		(9,808	)		(5,531	)		(6,035	)
Adjustments to maintain reserves		38			2			13			5			4			2			13			(36	)
Net equity transactions		(430,272	)		(156,116	)		(1,869	)		(2,038	)		(335,306	)		(175,294	)		(5,518	)		122,068
Net change in contract owners’ equity		(334,287	)		78,432			10,835			(3,274	)		(129,417	)		(208,894	)		36,479			149,959
Contract owners’ equity at beginning of period		686,518			608,086			30,099			33,373			738,595			947,489			253,262			103,303
Contract owners’ equity at end of period	$	352,231			686,518			40,934			30,099			609,178			738,595			289,741			253,262
CHANGE IN UNITS:
Beginning units		18,666			24,895			1,123			1,205			17,944			23,621			5,437			2,529
Units purchased		91			18,879			-			-			289			19,943			1,201			4,372
Units surrendered		(10,518	)		(25,108	)		(59	)		(82	)		(6,827	)		(25,620	)		(1,345	)		(1,464	)
Ending units		8,239			18,666			1,064			1,123			11,406			17,944			5,293			5,437

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	JACAS						JAGTS						JAIGS						LZREMS
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	(35	)		1			11			(58	)		10,198			8,386			593			328
Realized gain (loss) on investments		299			4,780			2,865			2,279			1,881			(248,552	)		1,739			(986	)
Change in unrealized gain (loss) on investments		2,335			3,305			(500	)		17,945			119,718			299,683			(1,710	)		(79	)
Reinvested capital gains		4,404			1,959			10,420			5,318			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		7,003			10,045			12,796			25,484			131,797			59,517			622			(737	)
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		(4,847	)		(316	)		-			-			-			-			15,446			185
Transfers between funds		4,391			(36,989	)		-			-			-			(534,912	)		4,262			(2,313	)
Surrenders (notes 2, 3, 4, 5 and 6)		(458	)		(938	)		(4,322	)		(4,152	)		(7,901	)		(23,317	)		(369	)		(534	)
Adjustments to maintain reserves		-			27			(10	)		(13	)		8			5			3			(1	)
Net equity transactions		(914	)		(38,216	)		(4,332	)		(4,165	)		(7,893	)		(558,224	)		19,342			(2,663	)
Net change in contract owners’ equity		6,089			(28,171	)		8,464			21,319			123,904			(498,707	)		19,964			(3,400	)
Contract owners’ equity at beginning of period		31,562			59,733			74,243			52,924			1,003,665			1,502,372			14,705			18,105
Contract owners’ equity at end of period	$	37,651			31,562			82,707			74,243			1,127,569			1,003,665			34,669			14,705
CHANGE IN UNITS:
Beginning units		615			1,644			2,153			2,311			48,333			86,190			1,192			1,446
Units purchased		-			174			-			-			58			44,345			1,506			18
Units surrendered		(16	)		(1,203	)		(114	)		(158	)		(408	)		(82,202	)		(28	)		(272	)
Ending units		599			615			2,039			2,153			47,983			48,333			2,670			1,192

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	BNCAI						LOVBD						MV2RIS						MVBRES
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	(48	)		(57	)		13,483			16,009			570			1,240			11,498			13,604
Realized gain (loss) on investments		160			65			2,084			1,221			614			1,365			13,885			4,583
Change in unrealized gain (loss) on investments		6,912			8,043			(8,466	)		12,831			4,253			2,924			230,916			82,706
Reinvested capital gains		1,137			770			7,379			-			4,812			2,499			98,272			57,692
Net increase (decrease) in contract owners’ equity resulting from operations		8,161			8,821			14,480			30,061			10,249			8,028			354,571			158,585
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		-			(203	)		-			-			2,641			28,780			-			-
Transfers between funds		-			(19,354	)		-			-			2,516			(2,516	)		-			-
Surrenders (notes 2, 3, 4, 5 and 6)		(548	)		(551	)		(14,905	)		(18,776	)		(6,221	)		(21,673	)		(45,515	)		(46,768	)
Adjustments to maintain reserves		14			26			(2	)		7			2			(9	)		9			4
Net equity transactions		(534	)		(20,082	)		(14,907	)		(18,769	)		(1,062	)		4,582			(45,506	)		(46,764	)
Net change in contract owners’ equity		7,627			(11,261	)		(427	)		11,292			9,187			12,610			309,065			111,821
Contract owners’ equity at beginning of period		44,175			55,436			459,645			448,353			91,434			78,824			1,237,803			1,125,982
Contract owners’ equity at end of period	$	51,802			44,175			459,218			459,645			100,621			91,434			1,546,868			1,237,803
CHANGE IN UNITS:
Beginning units		532			909			32,497			34,270			6,419			6,231			62,963			66,398
Units purchased		-			231			-			33,302			358			2,051			-			64,524
Units surrendered		(6	)		(608	)		(1,029	)		(35,075	)		(422	)		(1,863	)		(1,993	)		(67,959	)
Ending units		526			532			31,468			32,497			6,355			6,419			60,970			62,963

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	MVFSC						MVIVSC						MSEM						MSVMG
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	14,559			14,890			44			7,436			501			441			(1	)		-
Realized gain (loss) on investments		104,125			6,782			302,153			78,751			(4	)		(19	)		45			30
Change in unrealized gain (loss) on investments		180,786			(43,942	)		(197,578	)		117,736			(716	)		95			(637	)		667
Reinvested capital gains		31,486			58,115			24,527			26,170			-			-			461			93
Net increase (decrease) in contract owners’ equity resulting from operations		330,956			35,845			129,146			230,093			(219	)		517			(132	)		790
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		2,609			32,373			115			-			-			-			-			-
Transfers between funds		(388,484	)		(49,731	)		(779,500	)		(138,642	)		-			-			-			-
Surrenders (notes 2, 3, 4, 5 and 6)		(48,157	)		(44,871	)		(33,280	)		(16,181	)		(546	)		(704	)		(69	)		(56	)
Adjustments to maintain reserves		9			11			(1	)		(4	)		(19	)		21			63			(54	)
Net equity transactions		(434,023	)		(62,218	)		(812,666	)		(154,827	)		(565	)		(683	)		(6	)		(110	)
Net change in contract owners’ equity		(103,067	)		(26,373	)		(683,520	)		75,266			(784	)		(166	)		(138	)		680
Contract owners’ equity at beginning of period		1,388,570			1,414,943			1,450,100			1,374,834			10,497			10,663			1,236			556
Contract owners’ equity at end of period	$	1,285,503			1,388,570			766,580			1,450,100			9,713			10,497			1,098			1,236
CHANGE IN UNITS:
Beginning units		57,202			61,128			36,465			42,186			183			196			15			17
Units purchased		1,692			60,980			-			39,710			-			-			-			-
Units surrendered		(16,540	)		(64,906	)		(18,967	)		(45,431	)		(10	)		(13	)		-			(2	)
Ending units		42,354			57,202			17,498			36,465			173			183			15			15

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	MSVRE						EIF						GBF						GEM
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	1,085			690			10			12			7,795			6,210			528			(762	)
Realized gain (loss) on investments		10,645			(7,392	)		11			2			(4,779	)		9,131			(3,873	)		(214,160	)
Change in unrealized gain (loss) on investments		5,177			(497	)		122			(24	)		(9,555	)		(2,223	)		(27	)		77,708
Reinvested capital gains		-			738			9			30			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		16,907			(6,461	)		152			20			(6,539	)		13,118			(3,372	)		(137,214	)
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		28,529			230			-			-			158,762			1,413			-			-
Transfers between funds		(6,001	)		(5,539	)		-			-			45,076			68,799			3,812			(697,917	)
Surrenders (notes 2, 3, 4, 5 and 6)		(707	)		(1,088	)		(45	)		(48	)		502			(9,116	)		(455	)		(18,041	)
Adjustments to maintain reserves		56			33			(26	)		25			(1	)		18			7			18
Net equity transactions		21,877			(6,364	)		(71	)		(23	)		204,339			61,114			3,364			(715,940	)
Net change in contract owners’ equity		38,784			(12,825	)		81			(3	)		197,800			74,232			(8	)		(853,154	)
Contract owners’ equity at beginning of period		24,164			36,989			775			778			319,245			245,013			111			853,265
Contract owners’ equity at end of period	$	62,948			24,164			856			775			517,045			319,245			103			111
CHANGE IN UNITS:
Beginning units		530			674			25			26			14,955			12,018			3			26,895
Units purchased		574			6			-			-			12,318			3,373			12			-
Units surrendered		(112	)		(150	)		(2	)		(1	)		(1,779	)		(436	)		(12	)		(26,892	)
Ending units		992			530			23			25			25,494			14,955			3			3

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	GIG						GVIDM						GVIX2					HIBF
	2021			2020			2021			2020			2021			2020		2021			2020
Investment activity*:
Net investment income (loss)	$	20,744			7,089			326			(56	)		-			-		53,292			53,762
Realized gain (loss) on investments		8,487			2,504			96			(434	)		-			-		(503	)		(875	)
Change in unrealized gain (loss) on investments		68,328			43,264			31,348			20,778			-			-		471			6,782
Reinvested capital gains		-			-			4,328			18,299			-			-		-			-
Net increase (decrease) in contract owners’ equity resulting from operations		97,559			52,857			36,098			38,587			-			-		53,260			59,669
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		-			-			(3,451	)		859			12,334			-		22,657			168
Transfers between funds		-			-			3,050			284,548			(13,742	)		-		(372	)		3,239
Surrenders (notes 2, 3, 4, 5 and 6)		(27,293	)		(29,088	)		(3,460	)		(3,633	)		1,407			-		(8,159	)		(13,261	)
Adjustments to maintain reserves		(7	)		11			(11	)		11			1			-		(1	)		5
Net equity transactions		(27,300	)		(29,077	)		(3,872	)		281,785			-			-		14,125			(9,849	)
Net change in contract owners’ equity		70,259			23,780			32,226			320,372			-			-		67,385			49,820
Contract owners’ equity at beginning of period		782,173			758,393			355,787			35,415			-			-		1,089,568			1,039,748
Contract owners’ equity at end of period	$	852,432			782,173			388,013			355,787			-			-		1,156,953			1,089,568
CHANGE IN UNITS:
Beginning units		35,175			37,857			12,105			1,333			-			-		33,111			33,173
Units purchased		-			36,043			5,571			13,741			1,709			-		717			30,130
Units surrendered		(1,114	)		(38,725	)		(5,856	)		(2,969	)		(1,709	)		-		(292	)		(30,192	)
Ending units		34,061			35,175			11,820			12,105			-			-		33,536			33,111

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	MCIF						MSBF						NVAMVX						NVBX
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	98,645			84,861			163			95			77			62			155,720			116,683
Realized gain (loss) on investments		686,522			(2,006,399	)		13			(2	)		85			3			92,081			232,746
Change in unrealized gain (loss) on investments		1,279,562			2,545,344			(23	)		11			1,621			765			(422,211	)		10,310
Reinvested capital gains		173,588			406,654			-			-			-			-			33,478			-
Net increase (decrease) in contract owners’ equity resulting from operations		2,238,317			1,030,460			153			104			1,783			830			(140,932	)		359,739
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		(64,902	)		3,558			147			-			-			-			1,507			40
Transfers between funds		(2,667,159	)		(375,262	)		(163	)		-			-			4,540			2,165,339			493,002
Surrenders (notes 2, 3, 4, 5 and 6)		(128,001	)		(164,178	)		(145	)		(193	)		(303	)		(82	)		(257,030	)		(68,395	)
Adjustments to maintain reserves		(79	)		25			(9	)		(5	)		(4	)		(2	)		1			(7	)
Net equity transactions		(2,860,141	)		(535,857	)		(170	)		(198	)		(307	)		4,456			1,909,817			424,640
Net change in contract owners’ equity		(621,824	)		494,603			(17	)		(94	)		1,476			5,286			1,768,885			784,379
Contract owners’ equity at beginning of period		9,982,001			9,487,398			3,009			3,103			5,286			-			5,984,254			5,199,875
Contract owners’ equity at end of period	$	9,360,177			9,982,001			2,992			3,009			6,762			5,286			7,753,139			5,984,254
CHANGE IN UNITS:
Beginning units		133,716			196,513			111			119			446			-			479,419			449,920
Units purchased		1,615			136,189			-			-			-			454			246,180			524,339
Units surrendered		(34,323	)		(198,986	)		(6	)		(8	)		(22	)		(8	)		(90,648	)		(494,840	)
Ending units		101,008			133,716			105			111			424			446			634,951			479,419

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	NVCCN1						NVCMA1						NVCMC1						NVCMD1
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	19			24			42			240			5			15			2			4
Realized gain (loss) on investments		46			(33	)		(170	)		(682	)		12			(17	)		(1	)		(8	)
Change in unrealized gain (loss) on investments		587			1,121			4,885			2,806			299			272			72			42
Reinvested capital gains		36			38			-			524			1			24			-			14
Net increase (decrease) in contract owners’ equity resulting from operations		688			1,150			4,757			2,888			317			294			73			52
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		-			-			-			-			-			-			-			-
Transfers between funds		-			-			-			-			-			-			-			-
Surrenders (notes 2, 3, 4, 5 and 6)		(871	)		(1,109	)		(1,566	)		(1,696	)		(197	)		(238	)		(31	)		(36	)
Adjustments to maintain reserves		(4	)		1			20			(25	)		14			(1	)		3			14
Net equity transactions		(875	)		(1,108	)		(1,546	)		(1,721	)		(183	)		(239	)		(28	)		(22	)
Net change in contract owners’ equity		(187	)		42			3,211			1,167			134			55			45			30
Contract owners’ equity at beginning of period		16,114			16,072			27,108			25,941			3,560			3,505			556			526
Contract owners’ equity at end of period	$	15,927			16,114			30,319			27,108			3,694			3,560			601			556
CHANGE IN UNITS:
Beginning units		904			970			863			927			163			175			21			22
Units purchased		-			-			-			-			-			-			-			-
Units surrendered		(48	)		(66	)		(45	)		(64	)		(8	)		(12	)		(1	)		(1	)
Ending units		856			904			818			863			155			163			20			21

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	NVCRA1						NVMLG1						NVMMG1						NVOLG1
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	-			1			(44	)		(44	)		-			-			17			38
Realized gain (loss) on investments		1			-			(519	)		(2,833	)		11			(2	)		51			(9,928	)
Change in unrealized gain (loss) on investments		19			11			7,727			(5,226	)		(199	)		307			1,002			11,786
Reinvested capital gains		-			-			7,665			15,519			139			113			75			356
Net increase (decrease) in contract owners’ equity resulting from operations		20			12			14,829			7,416			(49	)		418			1,145			2,252
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		-			-			-			(442	)		-			-			(876	)		-
Transfers between funds		-			-			-			11,442			-			-			1,359			(74,278	)
Surrenders (notes 2, 3, 4, 5 and 6)		(6	)		(6	)		(1,708	)		(1,646	)		(57	)		(55	)		(715	)		(327	)
Adjustments to maintain reserves		7			5			12			(19	)		12			(15	)		(5	)		3
Net equity transactions		1			(1	)		(1,696	)		9,335			(45	)		(70	)		(237	)		(74,602	)
Net change in contract owners’ equity		21			11			13,133			16,751			(94	)		348			908			(72,350	)
Contract owners’ equity at beginning of period		104			93			37,700			20,949			1,066			718			3,933			76,283
Contract owners’ equity at end of period	$	125			104			50,833			37,700			972			1,066			4,841			3,933
CHANGE IN UNITS:
Beginning units		3			3			1,051			759			24			26			185			4,276
Units purchased		-			-			-			502			-			-			3,631			-
Units surrendered		-			-			(41	)		(210	)		(1	)		(2	)		(3,641	)		(4,091	)
Ending units		3			3			1,010			1,051			23			24			175			185

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	SAM					SAM5						SCF						SCGF
	2021			2020		2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	-			-		(95,501	)		118,134			(1,298	)		(1,860	)		(1	)		-
Realized gain (loss) on investments		-			-		-			-			167,029			(147,482	)		4			(6	)
Change in unrealized gain (loss) on investments		-			-		-			-			193,835			338,609			4			125
Reinvested capital gains		-			-		-			-			10,691			45,739			56			64
Net increase (decrease) in contract owners’ equity resulting from operations		-			-		(95,501	)		118,134			370,257			235,006			63			183
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		(177,566	)		-		36,721			23,265			(472	)		(541	)		-			-
Transfers between funds		176,633			-		10,776,156			2,977,879			(631,944	)		(159,586	)		-			-
Surrenders (notes 2, 3, 4, 5 and 6)		933			-		(1,604,356	)		(1,476,309	)		(35,736	)		(14,219	)		(35	)		(33	)
Adjustments to maintain reserves		-			-		(1	)		79			39			4			(33	)		36
Net equity transactions		-			-		9,208,520			1,524,914			(668,113	)		(174,342	)		(68	)		3
Net change in contract owners’ equity		-			-		9,113,019			1,643,048			(297,856	)		60,664			(5	)		186
Contract owners’ equity at beginning of period		-			-		90,616,989			88,973,941			1,317,588			1,256,924			641			455
Contract owners’ equity at end of period	$	-			-		99,730,008			90,616,989			1,019,732			1,317,588			636			641
CHANGE IN UNITS:
Beginning units		-			-		7,558,764			7,498,692			16,787			22,870			10			10
Units purchased		70			-		952,673			4,262,829			-			17,870			-			-
Units surrendered		(70	)		-		(184,295	)		(4,202,757	)		(6,847	)		(23,953	)		(1	)		-
Ending units		-			-		8,327,142			7,558,764			9,940			16,787			9			10

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	SCVF						TRF						AMCG						AMSRS
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	(11	)		(2	)		1,790			2,267			-			-			2,275			3,104
Realized gain (loss) on investments		(197	)		(548	)		1,614			996			(346	)		6			1,389			1
Change in unrealized gain (loss) on investments		3,245			851			35,624			3,021			(234	)		141			146,607			87,492
Reinvested capital gains		-			42			12,029			15,554			590			24			15,730			25,385
Net increase (decrease) in contract owners’ equity resulting from operations		3,037			343			51,057			21,838			10			171			166,001			115,982
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		(230	)		-			(3,775	)		14			3,764			-			-			-
Transfers between funds		217			-			3,541			(14	)		367			-			-			-
Surrenders (notes 2, 3, 4, 5 and 6)		(602	)		(554	)		(1,432	)		(1,459	)		(4,110	)		(32	)		(5,087	)		(4,075	)
Adjustments to maintain reserves		(58	)		7			(18	)		19			44			(19	)		-			7
Net equity transactions		(673	)		(547	)		(1,684	)		(1,440	)		65			(51	)		(5,087	)		(4,068	)
Net change in contract owners’ equity		2,364			(204	)		49,373			20,398			75			120			160,914			111,914
Contract owners’ equity at beginning of period		9,745			9,949			235,368			214,970			581			461			713,114			601,200
Contract owners’ equity at end of period	$	12,109			9,745			284,741			235,368			656			581			874,028			713,114
CHANGE IN UNITS:
Beginning units		138			148			6,375			6,419			9			10			54,609			54,990
Units purchased		-			-			759			-			4,474			-			-			-
Units surrendered		(8	)		(10	)		(800	)		(44	)		(4,474	)		(1	)		(349	)		(381	)
Ending units		130			138			6,334			6,375			9			9			54,260			54,609

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	PMVAAA						PMVHYA						PMVLDA						PMVRRA
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	2,129			812			12,081			11,379			3,035			7,018			29,912			8,674
Realized gain (loss) on investments		211			61			612			(247	)		(6,725	)		(2,184	)		49,298			40,142
Change in unrealized gain (loss) on investments		501			379			(2,947	)		2,512			(3,860	)		13,618			(46,801	)		31,612
Reinvested capital gains		-			-			-			-			-			-			-			-
Net increase (decrease) in contract owners’ equity resulting from operations		2,841			1,252			9,746			13,644			(7,550	)		18,452			32,409			80,428
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		-			-			-			-			7,177			87,388			20			-
Transfers between funds		-			-			34,537			18,951			(91,003	)		77,284			(369,623	)		(36,252	)
Surrenders (notes 2, 3, 4, 5 and 6)		(1,043	)		(1,155	)		(4,333	)		(3,818	)		(14,270	)		(10,713	)		(17,233	)		(9,719	)
Adjustments to maintain reserves		(21	)		9			-			31			-			63			29			66
Net equity transactions		(1,064	)		(1,146	)		30,204			15,164			(98,096	)		154,022			(386,807	)		(45,905	)
Net change in contract owners’ equity		1,777			106			39,950			28,808			(105,646	)		172,474			(354,398	)		34,523
Contract owners’ equity at beginning of period		18,009			17,903			253,497			224,689			777,861			605,387			755,205			720,682
Contract owners’ equity at end of period	$	19,786			18,009			293,447			253,497			672,215			777,861			400,807			755,205
CHANGE IN UNITS:
Beginning units		743			797			21,332			19,969			46,839			37,423			32,360			35,365
Units purchased		-			-			2,876			1,706			2,952			10,068			-			41,650
Units surrendered		(40	)		(54	)		(359	)		(343	)		(8,929	)		(652	)		(16,072	)		(44,655	)
Ending units		703			743			23,849			21,332			40,862			46,839			16,288			32,360

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	PMVTRA						ROCMC						TRBCGP						TREI2
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	103,711			105,829			(211	)		(105	)		(608	)		(635	)		2,551			3,004
Realized gain (loss) on investments		6,295			13,807			22,115			(4,452	)		117,806			42,392			259			(1,589	)
Change in unrealized gain (loss) on investments		(449,328	)		240,694			(6,797	)		13,592			(66,327	)		152,814			27,814			5,621
Reinvested capital gains		256,686			65,888			5,237			707			52,975			21,879			16,118			4,025
Net increase (decrease) in contract owners’ equity resulting from operations		(82,636	)		426,218			20,344			9,742			103,846			216,450			46,742			11,061
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		(25,369	)		99,257			41,989			296			-			-			(4,223	)		-
Transfers between funds		154,950			1,831,741			2,525			(24,696	)		(299,102	)		(90,354	)		3,705			86,327
Surrenders (notes 2, 3, 4, 5 and 6)		(113,188	)		(165,282	)		(1,368	)		(1,891	)		(9,722	)		(9,928	)		(4,726	)		(4,159	)
Adjustments to maintain reserves		(239	)		358			20			(14	)		(6	)		36			69			(38	)
Net equity transactions		16,154			1,766,074			43,166			(26,305	)		(308,830	)		(100,246	)		(5,175	)		82,130
Net change in contract owners’ equity		(66,482	)		2,192,292			63,510			(16,563	)		(204,984	)		116,204			41,567			93,191
Contract owners’ equity at beginning of period		6,076,401			3,884,109			57,147			73,710			702,581			586,377			189,239			96,048
Contract owners’ equity at end of period	$	6,009,919			6,076,401			120,657			57,147			497,597			702,581			230,806			189,239
CHANGE IN UNITS:
Beginning units		247,480			171,990			1,289			2,056			16,717			18,716			4,971			2,533
Units purchased		25,797			95,258			1,317			9			-			-			803			2,567
Units surrendered		(25,151	)		(19,768	)		(509	)		(776	)		(6,641	)		(1,999	)		(946	)		(129	)
Ending units		248,126			247,480			2,097			1,289			10,076			16,717			4,828			4,971

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	TRLT1						TRMCG2						TRNAG1						VWEM
	2021			2020			2021			2020			2021			2020			2021			2020
Investment activity*:
Net investment income (loss)	$	47,130			55,813			(396	)		(490	)		(4	)		(4	)		4,226			7,166
Realized gain (loss) on investments		57,957			76,610			2,342			8,802			100			58			4,859			30,700
Change in unrealized gain (loss) on investments		(145,781	)		37,244			7,608			34,965			(146	)		687			(81,051	)		(117,216	)
Reinvested capital gains		30,595			-			42,627			23,878			958			663			11,581			13,573
Net increase (decrease) in contract owners’ equity resulting from operations		(10,099	)		169,667			52,181			67,155			908			1,404			(60,385	)		(65,777	)
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		(112	)		-			(5,898	)		(368	)		-			-			-			-
Transfers between funds		1,835,004			835,571			5,072			(25,388	)		-			-			-			(1,087,003	)
Surrenders (notes 2, 3, 4, 5 and 6)		(142,605	)		(39,701	)		(9,443	)		(10,555	)		(262	)		(252	)		(17,156	)		(46,749	)
Adjustments to maintain reserves		319			313			123			(44	)		19			27			(28	)		(28	)
Net equity transactions		1,692,606			796,183			(10,146	)		(36,355	)		(243	)		(225	)		(17,184	)		(1,133,780	)
Net change in contract owners’ equity		1,682,507			965,850			42,035			30,800			665			1,179			(77,569	)		(1,199,557	)
Contract owners’ equity at beginning of period		3,360,221			2,394,371			364,975			334,175			4,512			3,333			522,635			1,722,192
Contract owners’ equity at end of period	$	5,042,728			3,360,221			407,010			364,975			5,177			4,512			445,066			522,635
CHANGE IN UNITS:
Beginning units		285,870			215,994			3,671			4,216			61			65			6,957			39,293
Units purchased		169,537			363,528			357			2,452			-			-			-			6,775
Units surrendered		(26,549	)		(293,652	)		(462	)		(2,997	)		(3	)		(4	)		(228	)		(39,111	)
Ending units		428,858			285,870			3,566			3,671			58			61			6,729			6,957

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

YEARS ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

	VWHA						SVOF						DVIV					NVMLV1
	2021			2020			2021			2020			2021		2020			2021		2020
Investment activity*:
Net investment income (loss)	$	7			11			-			2			-		112			-		65
Realized gain (loss) on investments		30			(11	)		735			(1	)		-		(120	)		-		(3,601	)
Change in unrealized gain (loss) on investments		263			244			(58	)		63			-		(708	)		-		1,103
Reinvested capital gains		-			-			33			38			-		-			-		1,819
Net increase (decrease) in contract owners’ equity resulting from operations		300			244			710			102			-		(716	)		-		(614	)
Equity transactions:
Purchase payments received from policyholders (notes 2 and 6)		-			-			(2,690	)		-			-		4			-		-
Transfers between funds		-			-			11,224			-			-		(2,557	)		-		(4,540	)
Surrenders (notes 2, 3, 4, 5 and 6)		(96	)		(85	)		(9,138	)		(31	)		-		(70	)		-		(242	)
Adjustments to maintain reserves		(4	)		(11	)		35			(12	)		-		(7	)		-		1
Net equity transactions		(100	)		(96	)		(569	)		(43	)		-		(2,630	)		-		(4,781	)
Net change in contract owners’ equity		200			148			141			59			-		(3,346	)		-		(5,395	)
Contract owners’ equity at beginning of period		1,589			1,441			571			512			-		3,346			-		5,395
Contract owners’ equity at end of period	$	1,789			1,589			712			571			-		-			-		-
CHANGE IN UNITS:
Beginning units		38			41			12			13			-		140			-		218
Units purchased		-			-			11,536			-			-		-			-		-
Units surrendered		(2	)		(3	)		(11,536	)		(1	)		-		(140	)		-		(218	)
Ending units		36			38			12			12			-		-			-		-

* 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 or the activity is minimal and rounds to $0. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2021, if applicable.

See accompanying notes to financial statements.

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

(1) Background and Summary of Significant Accounting Policies

(a) Organization and Nature of Operations

The Nationwide VL Separate Account-C (the Separate Account) was established pursuant to a resolution of the Board of Directors of Nationwide Life and Annuity Insurance Company (the Company) on December 3, 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 Corporate Flexible Premium Variable Life Insurance Policies through the Separate Account.

(b) The Policies

The Separate Account offers variable investment options through life insurance policies intended to provide benefits to the policyholder and/or the beneficiary named by the policyholder. Policy features are described in the applicable prospectus.

With certain exceptions, policyholders may invest in any of the following:

AB FUNDS

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Growth and Income Portfolio: Class A (ALVGIA)

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

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Small/Mid Cap Value Portfolio: Class A (ALVSVA)*

AMERICAN CENTURY INVESTORS, INC.

American Century Variable Portfolios, Inc. - American Century VP Balanced Fund: Class I (ACVB)*

American Century Variable Portfolios, Inc. - American Century VP Capital Appreciation Fund: Class I (ACVCA)

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 II, Inc. - American Century VP Inflation Protection Fund: Class I (ACVIP1)*

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

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 FUNDS GROUP (THE)

American Funds Insurance Series(R) - Asset Allocation Fund: Class 2 (AMVAA2)*

American Funds Insurance Series(R) - The Bond Fund of America: Class 2 (AMVBD2)*

American Funds Insurance Series(R) - Capital World Bond Fund: Class 2 (AMVGB2)*

American Funds Insurance Series(R) - Growth-Income Fund: Class 2 (AMVGI2)*

American Funds Insurance Series(R) - Growth Fund: Class 2 (AMVGR2)

American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 2 (AMVGS2)*

American Funds Insurance Series(R) - International Fund: Class 2 (AMVI2)

American Funds Insurance Series(R) - New World Fund: Class 2 (AMVNW2)*

AMUNDI US

Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class I (PIHYB1)

BLACKROCK FUNDS

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

BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class II (MLVGA2)*

BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class II (MLVLC2)

BNY MELLON INVESTMENT MANAGEMENT

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

BNY Mellon Variable Investment Fund - Growth and Income Portfolio: Initial Shares (DGI)*

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

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

BNY Mellon Investment Portfolios - MidCap Stock Portfolio: Initial Shares (DVMCS)*

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

CALVERT GROUP

Calvert VP S&P 500 Index Portfolio (CVSPIP)

Calvert Variable Series, Inc. - Calvert VP SRI Mid Cap Portfolio (CVSRMC)*

DAVIS FUNDS

Davis Variable Account Fund, Inc. - Davis Value Portfolio (DAVVL)*

DELAWARE FUNDS BY MACQUARIE

Delaware Variable Insurance Product Trust - Delaware VIP Emerging Markets Series: Service Class (DWVEMS)*

Delaware Variable Insurance Product Trust - Delaware VIP Small Cap Value Series: Service Class (DWVSVS)*

DWS INVESTMENT MANAGEMENT AMERICAS, INC.

Deutsche DWS Variable Series II - DWS CROCI(R) U.S. VIP: Class B (SVSLVB)*

Deutsche DWS Variable Series II - DWS Small Mid Cap Value VIP: Class B (SVSSVB)*

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 Quality Bond Fund II: Primary Shares (FQB)

Federated Hermes Insurance Series - Federated Hermes Fund for U.S. Government Securities II (FVUS2)*

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Asset Manager Portfolio: Initial Class (FAMP)*

Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Initial Class (FCP)*

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

Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Initial Class (FEIP)*

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

Fidelity Variable Insurance Products - Emerging Markets Portfolio - Service Class (FEMS)*

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2015 Portfolio: Service Class (FF15S)*

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

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2025 Portfolio: Service Class (FF25S)*

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

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2035 Portfolio: Service Class (FF35S)*

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2040 Portfolio: Service Class (FF40S)*

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2045 Portfolio: Service Class (FF45S)*

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2050 Portfolio: Service Class (FF50S)*

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2055 Portfolio: Service Class (FF55S)*

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2060 Portfolio: Service Class (FF60S)*

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2065 Portfolio: Service Class (FF65S)*

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

Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Initial Class (FGP)*

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

Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Initial Class (FHIP)*

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 (FMCS)

Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Initial Class (FOP)*

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

Fidelity Variable Insurance Products Fund - VIP Real Estate Portfolio: Service Class (FRESS)*

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

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 1 (FTVGB1)*

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

Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Global Discovery VIP Fund: Class 2 (FTVMD2)*

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 Small Cap Equity Insights Fund: Institutional Shares (GVCSE)*

Goldman Sachs Variable Insurance Trust - Goldman Sachs Growth Opportunities Fund: Service Shares (GVGOPS)*

Goldman Sachs Variable Insurance Trust - Goldman Sachs Mid Cap Value Fund: Institutional Shares (GVMCE)

INVESCO INVESTMENTS

Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)*

Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)*

Invesco - Invesco V.I. International Growth Fund: Series I Shares (AVIE)

Invesco - Invesco V.I. Main Street Mid Cap Fund: Series I Shares (AVMCCI)*

Invesco - Invesco V.I. Small Cap Equity Fund: Series I Shares (AVSCE)*

Invesco - Invesco V.I. American Value Fund: Series I Shares (MSVMV)*

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

Invesco - Invesco V.I. Core Bond Fund: Series I (OVB)*

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 Oppenheimer V.I. International Growth Fund: Series I (OVIG)*

Invesco - Invesco V.I. Conservative Balanced Fund: Series I (OVMS)*

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

IVY INVESTMENTS

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

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 Mid Cap Growth: Class II (WRMCG)

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

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

J.P. MORGAN INVESTMENT MANAGEMENT INC.

JPMorgan Insurance Trust - JPMorgan Insurance Trust Mid Cap Value Portfolio: Class 1 (JPMMV1)

JPMorgan Insurance Trust - JPMorgan Insurance Trust Small Cap Core Portfolio 1 (JPSCE1)*

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

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)

Janus Aspen Series - Janus Henderson Enterprise Portfolio: Service Shares (JAMGS)*

Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Service Shares (JAMVS)*

LAZARD FUNDS

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

LEGG MASON

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class I (SBVSG)*

LINCOLN FUNDS

Lincoln Variable Insurance Products Trust - Baron Growth Opportunities Fund: Service Class (BNCAI)

LORD ABBETT FUNDS

Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)

Lord Abbett Series Fund, Inc. - Mid Cap Stock Portfolio: Class VC (LOVMCV)

Lord Abbett Series Fund, Inc. - Short Duration Income Portfolio: Class VC (LOVSDC)*

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

MAINSTAY FUNDS

MainStay VP Funds Trust - MainStay VP Floating Rate Portfolio: Service Class (MNVFRS)*

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust III - MFS Global Real Estate Portfolio: Service Class (M3GRES)*

MFS(R) Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)*

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 Emerging Markets Equity Portfolio: Service Class (MV2EES)*

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 II - MFS Blended Research(R) Core Equity Portfolio: Service Class (MVBRES)

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

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

MFS(R) Variable Insurance Trust - MFS Total Return Bond Series: Service Class (MVRBSS)*

MORGAN STANLEY

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

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

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)

Morgan Stanley Variable Insurance Fund, Inc. - Global Real Estate Portfolio: Class II (VKVGR2)*

NATIONWIDE FUNDS GROUP

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 Emerging Markets Fund: Class I (GEM)

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

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 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 II (GVIX2)*

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

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

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

Nationwide Variable Insurance Trust - NVIT J.P. Morgan Mozaic(SM) Multi-Asset Fund: Class II (NJMMA2)*

Nationwide Variable Insurance Trust - NVIT J.P. Morgan U.S. Equity Fund: Class II (NJNDE2)*

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

Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class I (NVBX)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Capital Appreciation Fund: Class I (NVCCA1)*

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Conservative Fund: Class I (NVCCN1)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Aggressive Fund: Class I (NVCMA1)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Conservative Fund: Class I (NVCMC1)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderate Fund: Class I (NVCMD1)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Aggressive Fund: Class I (NVCRA1)

Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Balanced Fund: Class I (NVCRB1)*

Nationwide Variable Insurance Trust - NVIT International Index Fund: Class I (NVIX)*

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

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

Nationwide Variable Insurance Trust - NVIT Multi-Manager Mid Cap Value Fund: Class I (NVMMV1)*

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

Nationwide Variable Insurance Trust - NVIT BNY Mellon Sustainable U.S. Equity Fund: Class I (NVNSR1)*

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

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 Short Term Bond Fund: Class I (NVSTB1)*

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 Government Money Market Fund: Class V (SAM5)

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

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

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

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

NEUBERGER & BERMAN MANAGEMENT, INC.

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

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

Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: I Class Shares (AMRI)*

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

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

PIMCO FUNDS

PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)

PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)*

PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)*

PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)*

PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)

PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)*

PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)

PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)*

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

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

PUTNAM INVESTMENTS

Putnam Variable Trust - Putnam VT Small Cap Value Fund: Class IB (PVTSCB)*

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 Blue Chip Growth Portfolio (TRBCGP)

T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)

T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited-Term Bond Portfolio (TRLT1)

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

T. Rowe Price Equity Series, Inc. - T. Rowe Price All-Cap Opportunities Portfolio (TRNAG1)

T. Rowe Price Equity Series, Inc. - T. Rowe Price Moderate Allocation Portfolio (TRPSB1)*

VAN ECK ASSOCIATES CORPORATION

VanEck VIP Trust - Emerging Markets Bond Fund: Initial Class (VWBF)*

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

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

VIRTUS MUTUAL FUNDS

Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class I (VRVDRI)*

WELLS FARGO FUNDS

Allspring Variable Trust - VT Discovery Fund: Class 2 (SVDF)*

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

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

* At December 31, 2021, policyholders were not invested in this fund.

The Contract Owners’ Equity is affected by the investment results of each fund, equity transactions by policyholders and certain policy and asset charges (see notes 2 and 3). The accompanying financial statements include only policyholders’ purchase payments pertaining to the variable portions of their policies and exclude any purchase payments for fixed dollar benefits, the latter being included in the accounts of the Company.

A policyholder 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.

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

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 policyholder due to a policy cancellation during the free look period, and/or if a gain is realized by the policyholder during the free look period.

The Company allocates purchase payments to subaccounts and/or the fixed account as instructed by the policyholder. 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 policy.

Unless listed below, the financial statements presented are as of December 31, 2021 and for each of the years in the two-year period ended December 31, 2021. For the subaccounts listed below with inception dates in 2021, the financial statements are as of December 31, 2021 and for the period from the inception date to December 31, 2021. For the subaccounts listed below with liquidation dates in 2021, the financial statements are for the period from January 1, 2021 to the liquidation date. For the subaccounts listed below with inception dates in 2020, the prior year financial statements reflect the period from inception date to December 31, 2020. For the subaccounts listed below with liquidation dates in 2020, the prior year financial statements reflect the period from January 1, 2020 to the liquidation date:

	Inception Date		Liquidation Date
Nationwide Variable Insurance Trust - NVIT Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)		9/11/2020
BNY Mellon Variable Investment Fund - International Value Portfolio: Initial Shares (DVIV)				4/30/2020

For the two-year period ending December 31, 2021, the following underlying mutual fund mergers occurred. Underlying mutual funds that were acquired during the period ending December 31, 2021 are no longer available as of December 31, 2021. Underlying mutual funds that were acquired during the period ending December 31, 2020 are no longer available as of December 31, 2020.

Acquired Underlying Mutual Fund	Acquiring Underlying Mutual Fund	Effective Date
Nationwide Variable Insurance Trust - NVIT Multi-Manager Large Cap Value Fund: Class I (NVMLV1)	Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)		9/11/2020
Invesco - Invesco V.I. Mid Cap Growth Fund: Series I Shares (IVKMG1)	Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series I (OVAG)		4/30/2020

Effective January 1, 2021, the trust name Amundi Pioneer was changed to Amundi US.

For the one-year period ended December 31, 2021, the following subaccount name changes occurred:

Subaccount Abbreviation	Current Legal Name	Prior Legal Name	Effective Date
AMVBD2	American Funds Insurance Series(R) - The Bond Fund of America: Class 2	American Funds Insurance Series(R) - Bond Fund: Class 2	5/1/2021
AVMCCI	Invesco - Invesco V.I. Main Street Mid Cap Fund: Series I Shares	Invesco - Invesco V.I. Mid Cap Core Equity Fund: Series I Shares	5/1/2021
OVAG	Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series I	Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund: Series I	5/1/2021
OVB	Invesco - Invesco V.I. Core Bond Fund: Series I	Invesco Oppenheimer V.I. Total Return Bond Fund: Series I	5/1/2021
OVGI	Invesco - Invesco V.I. Main Street Fund: Series I	Invesco Oppenheimer V.I. Main Street Fund: Series I	5/1/2021
OVGR	Invesco - Invesco V.I. Capital Appreciation Fund: Series I	Invesco Oppenheimer V.I. Capital Appreciation Fund: Series I	5/1/2021
OVGS	Invesco - Invesco V.I. Global Fund: Series I	Invesco Oppenheimer V.I. Global Fund: Series I	5/1/2021
OVMS	Invesco - Invesco V.I. Conservative Balanced Fund: Series I	Invesco Oppenheimer V.I. Conservative Balanced Fund: Series I	5/1/2021
OVSC	Invesco - Invesco V.I. Main Street Small Cap Fund: Series I	Invesco Oppenheimer V.I. Main Street Small Cap Fund: Series I	5/1/2021
WRASP	Ivy Variable Insurance Portfolios - Delaware Ivy Asset Strategy: Class II	Ivy Variable Insurance Portfolios - Asset Strategy: Class II	7/1/2021
WRGP	Ivy Variable Insurance Portfolios - Delaware Ivy Growth: Class II	Ivy Variable Insurance Portfolios - Growth: Class II	7/1/2021
WRHIP	Ivy Variable Insurance Portfolios - Delaware Ivy High Income: Class II	Ivy Variable Insurance Portfolios - High Income: Class II	7/1/2021
WRMCG	Ivy Variable Insurance Portfolios - Delaware Ivy Mid Cap Growth: Class II	Ivy Variable Insurance Portfolios - Mid Cap Growth: Class II	7/1/2021
WRRESP	Ivy Variable Insurance Portfolios - Delaware Ivy Securian Real Estate Securities: Class II	Ivy Variable Insurance Portfolios - Securian Real Estate Securities: Class II	7/1/2021

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

WRSTP	Ivy Variable Insurance Portfolios - Delaware Ivy Science and Technology: Class II	Ivy Variable Insurance Portfolios - Science and Technology: Class II	7/1/2021
EIF	Nationwide Variable Insurance Trust - NVIT BlackRock Equity Dividend Fund: Class I	Nationwide Variable Insurance Trust - BlackRock NVIT Equity Dividend Fund: Class I	5/1/2021
HIBF	Nationwide Variable Insurance Trust - NVIT Federated High Income Bond Fund: Class I	Nationwide Variable Insurance Trust - Federated NVIT High Income Bond Fund: Class I	5/1/2021
MSBF	Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I	Nationwide Variable Insurance Trust - Amundi NVIT Multi Sector Bond Fund: Class I	5/1/2021
NJNDE2	Nationwide Variable Insurance Trust - NVIT J.P. Morgan U.S. Equity Fund: Class II	Nationwide Variable Insurance Trust - NVIT J.P. Morgan Disciplined Equity Fund: Class II	5/1/2021
NVAMVX	Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X	Nationwide Variable Insurance Trust - NVIT Mellon Dynamic U.S. Equity Income: Class X	8/31/2021
NVMMG1	Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class I	Nationwide Variable Insurance Trust - NVIT Wells Fargo Discovery Fund: Class I	12/6/2021
NVNSR1	Nationwide Variable Insurance Trust - NVIT BNY Mellon Sustainable U.S. Equity Fund: Class I	Nationwide Variable Insurance Trust - NVIT Newton Sustainable U.S. Equity Fund: Class I	8/31/2021
NVOLG1	Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class I	Nationwide Variable Insurance Trust - NVIT Mellon Dynamic U.S. Core Fund: Class I	8/31/2021
TRNAG1	T. Rowe Price Equity Series, Inc. - T. Rowe Price All-Cap Opportunities Portfolio	T. Rowe Price Equity Series, Inc. - T. Rowe Price New America Growth Portfolio	5/1/2021
VWHA	VanEck VIP Trust - Global Resources Fund: Initial Class	VanEck VIP Trust - Global Hard Assets Fund: Initial Class	5/1/2021
SVDF	Allspring Variable Trust - VT Discovery Fund: Class 2	Wells Fargo Variable Trust - VT Discovery Fund: Class 2	10/11/2021
SVOF	Allspring Variable Trust - VT Opportunity Fund: Class 2	Wells Fargo Variable Trust - VT Opportunity Fund: Class 2	10/11/2021
WFVSCG	Allspring Variable Trust - VT Small Cap Growth Fund: Class 2	Wells Fargo Variable Trust - VT Small Cap Growth Fund: Class 2	10/11/2021

(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, 2021 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 policyholder 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) COVID-19

Equity and financial markets have experienced significant volatility and interest rates have experienced significant declines primarily driven by the COVID-19 pandemic. These conditions have and may continue to impact the Company’s operations and financial condition. The extent to which the COVID-19 pandemic may impact the Company’s operations and financial condition will depend on future developments which are evolving and uncertain.

(g) Subsequent Events

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

(2) Policy Charges

The Separate Account assesses charges associated with the policy. These charges are either assessed as a direct deduction from premium payments or through a surrender of units from the subaccounts contained within the Separate Account. The assessment of charges varies based on the policy and any additional riders or benefits elected. The additional riders or benefits and related charges specific to each product are described in detail in the applicable prospectus.

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

Policy Charges
Mortality and Expense Risk Charge - assessed through a surrender of units	Equal, on an annual basis, to 0.10% - 0.75% of the daily value of the assets invested in each fund
Sales Charge/Percent of Premium Charge - assessed through a deduction from premium payments	Up to 9.0% of each premium payment
Cost of Insurance Charges - assessed through a surrender of units	$0.03 - $83.33 per $1,000 of a policy’s net amount at risk
Administrative Charge - assessed through a surrender of units	$5 - $10 per policy, per month
Policy Loan Interest Charge - assessed through a surrender of units	Up to 3.75% of an outstanding policy loan
Partial Surrender Fee - assessed through a surrender of units	$0 - $25
Rider Charges - annualized and assessed through a surrender of units
Additional (insurance) Protection Rider Charge	$0.01 - $83.33 per month per $1,000 of additional protection

For the years ended December 31, 2021 and 2020, total front-end sales charge deductions were $14,907 and $13,336, respectively and were recognized as part of purchase payments on the Statements of Changes in Contract Owners’ Equity.

(3) Asset Charges

The Company deducts a charge related to the assumption of mortality and expense risk. Asset charges are included within the surrenders line item in the equity transactions section of the Statements of Changes in Contract Owners’ Equity.

For corporate flexible premium policies, the Company deducts a charge guaranteed not to exceed an annualized rate of 0.75% of the policy’s cash value.

On a current basis, this charge varies based on when the policy was issued and reduces based on how long the policy has been in force for most issues:

· For policies with applications signed on or after January 3, 2006:

Charge for policy years 1-4	Charge for policy years 5-15	Charge for policy years 16+
0.25% of daily net assets	0.20% of daily net assets	0.10% of daily net assets

· For policies with applications signed before January 3, 2006:

Charge for policy years 1-4	Charge for policy years 5-20	Charge for policy years 21+
0.40% of daily net assets	0.25% of daily net assets	0.10% of daily net assets

A reduced fee tier rate for corporate flexible premium policies may apply as either 0.10%, 0.20% or 0.25% for all policy years. These charges are assessed through a reduction in the unit value. The Company may reduce or eliminate certain charges, where the size or nature of the group results in savings in sales, underwriting, administrative or other costs, to the Company. These charges may be reduced in certain group, sponsored arrangements or special exchange programs made available by the Company.

(4) Death Benefits

Death benefit proceeds result in a surrender 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. Death benefits are included within the surrenders line item in the equity transactions section of the Statements of Changes in Contract Owners’ Equity.

(5) Policy Loans (Net of Repayments)

Policy provisions allow policyholders to borrow 90% of a policy’s non-loaned subaccount cash value. Interest is charged on the outstanding loan and is due and payable in advance on the policy anniversary, or when the loan is repaid or a new loan is effective. The interest rate is guaranteed not to exceed 3.75%. At the time the loan is granted, the amount of the loan is transferred from the Separate Account to the Company’s general account as collateral for the outstanding loan. Collateral amounts in the general account are credited with the stated rate of interest in effect at the time the loan is

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

made. Interest credited is paid by the Company’s general account to the Separate Account. Loan repayments result in a transfer of collateral including interest credited back to the Separate Account. Policy loans (net of repayments) are included within the surrenders line item in the equity transactions section of the Statements of Changes in Contract Owners’ Equity.

(6) 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.

Policyholders 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. These transfers are the result of the policyholder executing fund exchanges. Fund exchanges from the Separate Account to the fixed account are included in surrenders, and fund exchanges from the fixed account to the Separate Account are included in purchase payments received from policyholders, as applicable, on the accompanying Statements of Changes in Contract Owners’ Equity. Policy loan transactions (note 5), executed at the direction of the policyholder, also result in transfers between the Separate Account and the fixed account of the Company. The fixed account assets are not reflected in the accompanying financial statements. For the years ended December 31, 2021 and 2020, total transfers to the Separate Account from the fixed account were $857,157 and $72,075, respectively, and total transfers from the Separate Account to the fixed account were $954,714 and $74,478, respectively.

(7) 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.

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, London Interbank Offered Rate, 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 following table summarizes assets measured at fair value on a recurring basis as of December 31, 2021:

	Level 1		Level 2		Level 3		Total
Separate Account Investments	$	185,813,354	$	-	$	-	$	185,813,354

The cost of purchases and proceeds from sales of Investments for the year ended December 31, 2021 are as follows:

Subaccount Abbreviation*	Purchases of Investments		Sales of Investments
ALVGIA	$	190	$	281
ALVIVA		279,044		139,833
ACVCA		19		9
ACVI		1,422		1,431
ACVIG		93,844		5,145
ACVMV1		2,108		6,026
ACVU1		2,531		891
ACVV		207,592		218,717
AMVGR2		411,791		1,033,003
AMVI2		209,321		118,268
PIHYB1		649		701
MLVLC2		1,218		135

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

DCAP	88,003	7,601
DSIF	3,094,707	7,516,900
DSRG	227	413
DVSCS	1,123,553	2,328,035
CVSPIP	260,735	171,808
FQB	30	48
FCS	474,561	199,464
FEIS	7,966	4,925
FGOS	60,010	6,783
FGS	1,436,722	1,118,956
FHIS	404	428
FIGBS	83,300	4,972
FMCS	213,493	97,269
FOS	6,229	979
FVSS	246	137
FTVSV2	248,489	522,862
TIF2	47	140
GVMCE	5,726	2,151
AVIE	307	211
OVAG	1,111	560
OVGI	66	55
OVGR	236,147	229,907
OVGS	256,957	1,063,041
WRMCG	156,662	506,966
WRRESP	851	1,918
JPMMV1	142,810	432,347
JABS	3,807	5,809
JACAS	4,404	947
JAGTS	10,511	4,403
JAIGS	11,395	9,098
LZREMS	41,761	21,829
BNCAI	1,137	596
LOVBD	21,326	15,369
MV2RIS	7,777	3,459
MVBRES	111,182	46,926
MVFSC	280,982	668,970
MVIVSC	196,126	984,220
MSEM	511	556
MSVMG	461	70
MSVRE	87,498	64,591
EIF	20	46
GBF	547,457	335,322
GEM	60,999	57,114
GIG	21,592	28,140
GVIDM	5,052	4,258
HIBF	102,492	35,074
MCIF	2,632,016	5,219,844
MSBF	166	165
NVAMVX	84	310
NVBX	4,796,314	2,697,300
NVCCN1	70	886
NVCMA1	71	1,595
NVCMC1	10	201
NVCMD1	2	31
NVCRA1	-	5
NVMLG1	7,665	1,753
NVMMG1	140	58
NVOLG1	96	237
SAM5	17,261,770	8,148,751
SCF	247,914	906,673

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

SCGF		56		36
SCVF		-		626
TRF		14,628		2,474
AMCG		5,671		5,060
AMSRS		18,806		5,888
PMVAAA		2,148		1,062
PMVHYA		60,828		18,543
PMVLDA		145,465		240,527
PMVRRA		178,629		535,554
PMVTRA		608,015		231,226
ROCMC		142,314		94,142
TRBCGP		76,386		332,844
TREI2		19,125		5,701
TRLT1		3,808,006		2,037,993
TRMCG2		42,627		10,665
TRNAG1		958		267
VWEM		16,323		17,672
VWHA		8		97
SVOF		10,778		11,349
	$	40,722,667	$	38,559,648

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

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

(8) Financial Highlights

The Company offers several variable life products through the Separate Account that have unique combinations of features and fees that are assessed to the policyholder. 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 life insurance policies as of December 31, 2021, and the investment income ratio and total return for each of the periods in the five-year period ended December 31, 2021. The information is presented as a 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 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 Expense Rate*				Units		Unit Fair Value				Contract Owners’ Equity		Investment Income Ratio**		Total Return***
AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Growth and Income Portfolio: Class A (ALVGIA)
2021		0.10%				426		$58.34			$	24,855		0.83%		28.03%
2020		0.10%				431		45.57				19,641		1.20%		2.62%
2019		0.10%	to	0.25%		1,254		44.41	to	43.27		54,739		1.24%		23.79%	to	23.60%
2018		0.10%	to	0.25%		1,299		35.87	to	35.01		45,918		0.00%		-5.70%	to	-5.84%
2017		0.25%				1,310		37.18				48,705		1.51%		18.63%
AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class A (ALVIVA)
2021		0.20%				24,720		10.79				266,683		2.42%		10.86%
2020		0.20%				12,030		9.73				117,067		2.02%		2.26%
2019		0.20%				10,733		9.52				102,137		0.95%		16.90%
2018		0.20%				10,644		8.14				86,644		1.47%		-22.94%
2017		0.20%				11,076		10.56				117,006		2.28%		25.17%
American Century Variable Portfolios, Inc. - American Century VP Capital Appreciation Fund: Class I (ACVCA)
2021		0.10%				3		62.66				188		0.00%		11.04%
2020		0.10%				3		56.43				169		0.00%		42.31%
2019		0.10%				3		39.65				119		0.00%		35.43%
2018		0.25%				2		42.64				85		0.00%		-5.43%
2017		0.25%				2		45.09				90		0.00%		21.49%
American Century Variable Portfolios, Inc. - American Century VP International Fund: Class I (ACVI)
2021		0.10%				42		33.69				1,415		0.12%		8.64%
2020		0.10%				44		31.01				1,365		1.28%		25.75%
2019		0.10%	to	0.25%		37,640		24.66	to	23.94		901,431		0.87%		28.29%	to	28.10%
2018		0.10%	to	0.25%		39,599		19.22	to	18.69		740,276		0.00%		-15.31%	to	-15.43%
2017		0.25%				41,309		22.10				912,989		0.87%		30.88%
American Century Variable Portfolios, Inc. - American Century VP Disciplined Core Value Fund: Class I (ACVIG)
2021		0.10%				14,941		43.72				653,288		1.08%		23.53%
2020		0.10%				15,053		35.40				532,828		1.94%		11.70%
2019		0.10%	to	0.25%		16,871		31.69	to	34.27		538,386		2.07%		23.83%	to	23.64%
2018		0.10%	to	0.25%		18,189		25.59	to	27.72		502,082		0.00%		-6.96%	to	-7.10%
2017		0.25%				21,360		29.83				637,269		2.38%		20.19%
American Century Variable Portfolios, Inc. - American Century VP Mid Cap Value Fund: Class I (ACVMV1)
2021		0.10%				5,476		35.10				192,195		1.16%		23.08%
2020		0.10%				5,655		28.52				161,259		1.82%		1.11%
2019		0.25%				6,023		27.69				166,772		2.07%		28.83%
2018		0.25%				6,408		21.49				137,729		0.00%		-13.05%
2017		0.25%				6,636		24.72				164,044		1.55%		11.42%
American Century Variable Portfolios, Inc. - American Century VP Ultra(R) Fund: Class I (ACVU1)
2021		0.10%				561		75.90				42,577		0.00%		23.04%
2020		0.10%				574		61.68				35,407		0.00%		49.70%
2019		0.10%	to	0.25%		1,004		41.20	to	40.13		40,749		0.00%		34.44%	to	34.24%
2018		0.10%	to	0.25%		1,028		30.65	to	29.89		30,964		0.00%		0.66%	to	0.51%
2017		0.25%				1,043		29.74				31,020		0.35%		31.90%
American Century Variable Portfolios, Inc. - American Century VP Value Fund: Class I (ACVV)
2021		0.10%				1,329		64.06				85,139		1.96%		24.38%
2020		0.10%				1,330		51.50				68,500		2.32%		0.88%
2019		0.10%				1,372		51.06				70,049		2.19%		26.91%
2018		0.25%				4,598		35.28				162,208		0.00%		-9.38%
2017		0.25%				4,721		38.93				183,784		1.66%		8.48%
American Funds Insurance Series(R) - Growth Fund: Class 2 (AMVGR2)
2021		0.10%				16,515		59.63				984,714		0.20%		21.87%
2020		0.10%				31,433		48.93				1,537,911		0.32%		51.93%
2019		0.25%				37,988		31.77				1,206,814		0.75%		30.45%
2018		0.25%				41,470		24.35				1,009,937		0.42%		-0.50%
2017		0.25%				47,854		24.48				1,171,236		0.51%		27.97%

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

	Contract Expense Rate*				Units		Unit Fair Value				Contract Owners’ Equity		Investment Income Ratio**		Total Return***
American Funds Insurance Series(R) - International Fund: Class 2 (AMVI2)
2021		0.20%				10,088		16.80				169,464		2.79%		-1.69%
2020		0.20%				5,021		17.09				85,798		0.67%		13.75%
2019		0.20%				5,066		15.02				76,106		1.40%		22.64%
2018		0.20%				5,675		12.25				69,518		1.56%		-13.31%
2017		0.20%				6,791		14.13				95,958		1.50%		31.88%
Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class I (PIHYB1)
2021		0.10%				335		37.77				12,654		5.13%		5.60%
2020		0.10%				354		35.77				12,663		5.41%		2.38%
2019		0.10%				380		34.94				13,277		4.90%		14.33%
2018		0.25%				416		29.82				12,405		4.70%		-3.57%
2017		0.25%				442		30.92				13,668		4.62%		6.99%
BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class II (MLVLC2)
2021		0.10%				54		50.12				2,707		1.32%		28.07%
2020		0.10%				57		39.14				2,231		0.94%		19.54%
2019		0.10%				62		32.74				2,030		1.24%		28.54%
2018		0.25%				67		24.95				1,672		1.31%		-5.60%
2017		0.25%				71		26.43				1,877		1.15%		21.77%
BNY Mellon Variable Investment Fund - Appreciation Portfolio: Initial Shares (DCAP)
2021		0.10%				18,662		54.71				1,021,047		0.44%		27.00%
2020		0.10%	to	0.25%		18,724		43.08	to	47.75		809,915		0.79%		23.57%	to	23.38%
2019		0.10%	to	0.25%		18,855		34.86	to	38.70		661,981		1.17%		35.96%	to	35.76%
2018		0.10%	to	0.25%		17,440		25.64	to	28.51		494,762		1.26%		-6.95%	to	-7.09%
2017		0.25%				17,484		30.68				536,446		1.35%		27.01%
BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)
2021		0.10%	to	0.25%		360,869		52.38	to	58.90		18,924,377		1.13%		28.28%	to	28.09%
2020		0.10%	to	0.25%		478,765		40.83	to	45.98		19,565,049		1.58%		17.89%	to	17.71%
2019		0.10%	to	0.25%		540,231		34.63	to	39.06		19,349,790		1.66%		31.05%	to	30.86%
2018		0.10%	to	0.25%		726,329		26.43	to	29.85		19,839,583		1.65%		-4.73%	to	-4.87%
2017		0.10%	to	0.25%		789,127		27.74	to	31.38		22,671,891		1.75%		21.42%	to	21.24%
BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)
2021		0.10%				201		41.46				8,334		0.75%		26.87%
2020		0.10%				212		32.68				6,929		1.09%		24.02%
2019		0.10%				228		26.35				6,008		1.46%		34.22%
2018		0.25%				212		22.53				4,776		1.63%		-4.64%
2017		0.25%				466		23.63				11,010		1.13%		15.05%
BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)
2021		0.10%				67,746		61.77				4,184,477		0.69%		26.02%
2020		0.10%				90,121		49.01				4,417,275		1.03%		10.53%
2019		0.10%	to	0.25%		95,468		44.35	to	43.19		4,157,684		0.92%		22.09%	to	21.91%
2018		0.20%	to	0.25%		109,525		35.72	to	35.43		3,910,850		0.85%		-9.16%	to	-9.20%
2017		0.20%	to	0.25%		116,301		39.32	to	39.02		4,570,782		0.66%		12.18%	to	12.12%
Calvert VP S&P 500 Index Portfolio (CVSPIP)
2021		0.10%				162,814		28.45				4,631,505		1.33%		28.29%
2020		0.10%				169,432		22.17				3,756,996		2.79%		17.98%
2019		0.10%				141		18.79				2,650		1.80%		31.02%
2018		0.25%				152		14.24				2,165		1.93%		-4.97%
2017		0.25%				161		14.99				2,413		1.46%		21.16%
Delaware Variable Insurance Product Trust - Delaware VIP Small Cap Value Series: Service Class (DWVSVS)
2018		0.25%				120		16.08				1,929		0.62%		-17.15%
2017		0.25%				348		19.41				6,754		0.80%		11.48%
Federated Hermes Insurance Series - Federated Hermes Quality Bond Fund II: Primary Shares (FQB)
2021		0.10%				31		27.03				838		2.53%		-1.49%
2020		0.10%				33		27.44				905		2.75%		8.01%
2019		0.10%				35		25.40				889		2.94%		9.33%
2018		0.25%				39		22.56				880		0.01%		-0.84%
2017		0.25%				308,366		22.75				7,015,146		3.23%		3.78%
Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class (FCS)
2021		0.10%	to	0.20%		7,228		78.81	to	77.43		560,701		0.03%		27.58%	to	27.45%
2020		0.10%	to	0.20%		3,816		61.78	to	60.76		232,611		0.15%		30.30%	to	30.17%
2019		0.10%	to	0.25%		5,393		47.41	to	55.22		260,182		0.36%		31.32%	to	31.12%
2018		0.10%	to	0.25%		6,041		36.10	to	42.11		224,321		0.57%		-6.58%	to	-6.72%
2017		0.20%	to	0.25%		6,425		38.12	to	45.15		258,763		0.91%		21.52%	to	21.46%

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

	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 (FEIS)
2021		0.10%				817		45.18				36,909		1.89%		24.70%
2020		0.10%				862		36.23				31,228		1.73%		6.44%
2019		0.10%				926		34.04				31,517		1.34%		27.20%
2018		0.25%				5,124		26.31				134,815		2.26%		-8.63%
2017		0.25%				5,000		28.80				143,978		1.69%		12.52%
Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class (FGOS)
2021		0.10%				9,549		72.25				689,893		0.00%		11.72%
2020		0.10%	to	0.25%		9,587		64.67	to	69.51		623,155		0.01%		68.33%	to	68.07%
2019		0.10%	to	0.25%		9,747		38.42	to	41.35		379,169		0.05%		40.56%	to	40.35%
2018		0.10%	to	0.25%		10,394		27.33	to	29.47		303,184		0.11%		12.23%	to	12.06%
2017		0.25%				10,352		26.29				272,194		0.20%		34.06%
Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class (FGS)
2021		0.10%				95,549		61.78				5,903,162		0.00%		22.96%
2020		0.10%	to	0.25%		111,143		50.25	to	64.07		5,592,570		0.06%		43.61%	to	43.39%
2019		0.10%	to	0.25%		140,404		34.99	to	44.68		4,926,652		0.17%		34.05%	to	33.85%
2018		0.10%	to	0.25%		153,758		26.10	to	33.38		4,283,811		0.13%		-0.38%	to	-0.53%
2017		0.25%				9,058		33.56				303,981		0.12%		34.67%
Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class (FHIS)
2021		0.10%				307		25.21				7,738		5.21%		4.39%
2020		0.10%				324		24.14				7,823		4.93%		2.55%
2019		0.10%				348		23.55				8,194		5.07%		14.80%
2018		0.25%				405		18.83				7,626		5.45%		-3.84%
2017		0.25%				430		19.58				8,421		5.21%		6.80%
Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class (FIGBS)
2021		0.10%				8,185		19.63				160,659		2.41%		-0.82%
2020		0.10%				4,534		19.79				89,734		1.99%		9.15%
2019		0.10%				1,441		18.13				26,130		2.61%		9.47%
2018		0.25%				1,574		16.23				25,543		2.38%		-0.88%
2017		0.25%				1,671		16.37				27,358		0.79%		3.90%
Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class (FMCS)
2021		0.10%	to	0.20%		3,401		52.05	to	51.19		174,172		0.63%		25.38%	to	25.25%
2020		0.10%	to	0.20%		1,489		41.51	to	40.87		60,913		0.50%		17.92%	to	17.80%
2019		0.10%	to	0.20%		1,695		35.20	to	34.69		58,855		0.77%		23.22%	to	23.10%
2018		0.20%	to	0.25%		1,926		28.18	to	27.99		54,257		0.52%		-14.81%	to	-14.85%
2017		0.20%	to	0.25%		2,387		33.08	to	32.87		78,940		0.62%		20.46%	to	20.40%
Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class (FOS)
2021		0.10%				2,502		33.55				83,937		0.45%		19.45%
2020		0.10%	to	0.25%		2,592		28.08	to	26.72		71,097		0.41%		15.38%	to	15.21%
2019		0.10%	to	0.25%		855		24.34	to	23.19		20,244		1.36%		27.55%	to	27.35%
2018		0.10%	to	0.25%		1,824		19.08	to	18.21		33,757		1.12%		-14.97%	to	-15.10%
2017		0.25%				2,205		21.45				47,293		1.25%		29.78%
Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class (FVSS)
2021		0.10%				50		52.96				2,648		1.44%		33.35%
2020		0.10%				53		39.72				2,105		1.21%		8.07%
2019		0.10%				57		36.75				2,095		1.57%		34.16%
2018		0.25%				62		26.72				1,657		0.86%		-17.54%
2017		0.25%				66		32.40				2,139		1.39%		18.91%
Franklin Templeton Variable Insurance Products Trust - Franklin Small Cap Value VIP Fund: Class 2 (FTVSV2)
2021		0.10%	to	0.20%		54,099		42.83	to	42.12		2,315,803		1.03%		25.24%	to	25.12%
2020		0.10%	to	0.20%		62,841		34.20	to	33.67		2,148,532		1.78%		5.08%	to	4.98%
2019		0.10%	to	0.25%		78,223		32.54	to	31.84		2,545,078		0.94%		26.22%	to	26.03%
2018		0.10%	to	0.25%		125,987		25.78	to	25.26		3,216,008		1.13%		-12.96%	to	-13.09%
2017		0.20%	to	0.25%		52,529		29.25	to	29.07		1,527,044		0.54%		10.43%	to	10.38%
Franklin Templeton Variable Insurance Products Trust - Templeton Foreign VIP Fund: Class 2 (TIF2)
2021		0.10%				91		26.39				2,402		1.85%		4.05%
2020		0.10%				96		25.36				2,435		2.62%		-1.26%
2019		0.10%	to	0.25%		608		25.69	to	25.03		15,262		1.75%		12.42%	to	12.25%
2018		0.20%	to	0.25%		633		22.48	to	22.30		14,115		2.34%		-15.61%	to	-15.65%
2017		0.20%	to	0.25%		635		26.64	to	26.44		16,788		2.46%		16.46%	to	16.40%

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

	Contract Expense Rate*				Units		Unit Fair Value				Contract Owners’ Equity		Investment Income Ratio**		Total Return***
Goldman Sachs Variable Insurance Trust - Goldman Sachs Mid Cap Value Fund: Institutional Shares (GVMCE)
2021		0.10%				607		71.16				43,196		0.48%		30.82%
2020		0.10%				641		54.40				34,870		0.65%		8.29%
2019		0.10%				688		50.23				34,560		0.76%		31.40%
2018		0.25%				883		37.30				32,940		1.33%		-10.68%
2017		0.25%				925		41.77				38,634		0.29%		10.79%
Invesco - Invesco V.I. International Growth Fund: Series I Shares (AVIE)
2021		0.10%				101		37.59				3,797		1.27%		5.78%
2020		0.10%				107		35.54				3,803		2.41%		13.88%
2019		0.10%				114		31.21				3,558		1.78%		28.44%
2018		0.25%				4,846		23.77				115,176		2.08%		-15.19%
2017		0.25%				4,770		28.02				133,673		1.61%		22.70%
Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series I (OVAG)
2021		0.10%				182		59.47				10,824		0.00%		18.98%
2020		0.10%				192		49.98				9,597		0.04%		40.55%
2019		0.10%				206		35.56				7,326		0.00%		39.22%
2018		0.25%				212		26.55				5,628		0.00%		-6.32%
2017		0.25%				226		28.34				6,404		0.03%		28.47%
Invesco - Invesco V.I. Main Street Fund: Series I (OVGI)
2021		0.10%				22		50.23				1,105		0.71%		27.44%
2020		0.10%				23		39.42				907		1.50%		13.83%
2019		0.10%				25		34.63				866		1.06%		31.95%
2018		0.25%				30		23.62				709		1.16%		-8.12%
2017		0.25%				32		25.70				823		1.20%		16.62%
Invesco - Invesco V.I. Capital Appreciation Fund: Series I (OVGR)
2021		0.10%				13,108		60.15				788,468		0.00%		22.45%
2020		0.10%				13,411		49.13				658,817		0.00%		36.45%
2019		0.10%				13,016		36.00				468,604		0.07%		36.06%
2018		0.25%				17,805		29.30				521,763		0.32%		-5.97%
2017		0.25%				18,152		31.16				565,677		0.22%		26.52%
Invesco - Invesco V.I. Global Fund: Series I (OVGS)
2021		0.10%				14,152		52.80				747,169		0.00%		15.37%
2020		0.10%				30,344		45.76				1,388,563		0.69%		27.51%
2019		0.10%	to	0.25%		37,492		35.89	to	34.84		1,306,931		0.88%		31.66%	to	31.46%
2018		0.25%				42,992		26.51				1,139,558		0.99%		-13.40%
2017		0.25%				45,088		30.61				1,380,000		0.91%		36.32%
Ivy Variable Insurance Portfolios - Delaware Ivy Mid Cap Growth: Class II (WRMCG)
2021		0.10%				8,239		42.75				352,231		0.00%		16.24%
2020		0.10%				18,666		36.78				686,518		0.00%		48.85%
2019		0.25%				24,895		24.43				608,086		0.00%		37.60%
2018		0.25%				27,711		17.75				491,925		0.00%		-0.31%
2017		0.25%				31,431		17.81				559,691		0.00%		26.58%
Ivy Variable Insurance Portfolios - Delaware Ivy Securian Real Estate Securities: Class II (WRRESP)
2021		0.10%				1,064		38.47				40,934		0.90%		43.54%
2020		0.10%				1,123		26.80				30,099		1.71%		-3.22%
2019		0.10%				1,205		27.70				33,373		1.57%		24.30%
2018		0.25%				1,316		21.83				28,726		0.00%		-5.81%
2017		0.25%				1,397		23.17				32,375		1.29%		5.12%
JPMorgan Insurance Trust - JPMorgan Insurance Trust Mid Cap Value Portfolio: Class 1 (JPMMV1)
2021		0.10%				11,406		53.41				609,178		0.98%		29.75%
2020		0.10%				17,944		41.16				738,595		1.53%		0.27%
2019		0.10%	to	0.25%		23,621		41.05	to	40.10		947,489		1.56%		26.63%	to	26.44%
2018		0.25%				26,493		31.71				840,132		0.94%		-12.06%
2017		0.25%				27,393		36.06				987,769		0.83%		13.48%
Janus Aspen Series - Janus Henderson Balanced Portfolio: Service Shares (JABS)
2021		0.10%				5,293		54.74				289,741		0.67%		16.79%
2020		0.10%	to	0.25%		5,437		46.87	to	45.60		253,262		1.55%		13.92%	to	13.74%
2019		0.10%	to	0.25%		2,529		41.14	to	40.09		103,303		1.72%		22.15%	to	21.97%
2018		0.10%	to	0.25%		2,103		33.68	to	32.87		69,310		1.57%		0.33%	to	0.18%
2017		0.25%				2,983		32.81				97,872		1.39%		17.84%
Janus Aspen Series - Janus Henderson Forty Portfolio: Service Shares (JACAS)
2021		0.10%				599		62.86				37,651		0.00%		22.48%
2020		0.10%				615		51.32				31,562		0.14%		38.90%
2019		0.10%	to	0.25%		1,644		36.95	to	35.86		59,733		0.02%		36.72%	to	36.51%
2018		0.10%	to	0.25%		2,676		27.03	to	26.27		70,963		1.05%		1.62%	to	1.46%
2017		0.25%				2,704		25.89				70,009		0.00%		29.67%

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

	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)
2021		0.10%				2,039		40.56				82,707		0.11%		17.63%
2020		0.10%				2,153		34.48				74,243		0.00%		50.58%
2019		0.10%				2,311		22.90				52,924		0.41%		44.67%
2018		0.25%				2,543		15.39				39,127		1.07%		0.66%
2017		0.25%				2,701		15.29				41,287		0.44%		44.55%
Janus Aspen Series - Janus Henderson Overseas Portfolio: Service Shares (JAIGS)
2021		0.10%	to	0.25%		47,983		23.55	to	22.78		1,127,569		1.04%		13.17%	to	13.00%
2020		0.10%	to	0.25%		48,333		20.81	to	20.16		1,003,665		0.97%		15.91%	to	15.73%
2019		0.10%	to	0.25%		86,190		17.95	to	17.42		1,502,372		1.85%		26.58%	to	26.39%
2018		0.25%				88,866		13.78				1,224,900		1.67%		-15.35%
2017		0.25%				91,228		16.28				1,485,461		1.60%		30.48%
Janus Aspen Series - Janus Henderson Enterprise Portfolio: Service Shares (JAMGS)
2018		0.25%				8,780		13.53				118,801		0.12%		-0.91%
2017		0.25%				6,769		13.66				92,436		0.54%		26.77%
Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)
2021		0.20%				2,670		12.98				34,669		2.18%		5.26%
2020		0.20%				1,192		12.34				14,705		2.68%		-1.47%
2019		0.20%				1,446		12.52				18,105		0.86%		17.91%
2018		0.20%				1,263		10.62				13,412		1.46%		-18.72%
2017		0.20%				1,943		13.06				25,385		1.98%		27.57%
Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class I (SBVSG)
2018		0.25%				509		24.58				12,510		0.00%		3.18%
2017		0.25%				3,959		23.82				94,305		0.00%		23.96%
Lincoln Variable Insurance Products Trust - Baron Growth Opportunities Fund: Service Class (BNCAI)
2021		0.10%				526		98.48				51,802		0.00%		18.60%
2020		0.10%				532		83.04				44,175		0.00%		33.95%
2019		0.10%	to	0.25%		909		61.99	to	60.40		55,436		0.00%		36.25%	to	36.04%
2018		0.10%	to	0.25%		1,365		45.50	to	44.40		61,153		0.00%		-4.03%	to	-4.17%
2017		0.25%				1,383		46.33				64,080		0.00%		26.92%
Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)
2021		0.10%				31,468		14.59				459,218		3.01%		3.17%
2020		0.10%				32,497		14.14				459,645		3.87%		7.20%
2019		0.25%				34,270		13.08				448,353		3.89%		13.07%
2018		0.25%				36,153		11.57				418,311		4.46%		-4.26%
2017		0.25%				33,418		12.09				403,870		4.18%		8.94%
Lord Abbett Series Fund, Inc. - Mid Cap Stock Portfolio: Class VC (LOVMCV)
2018		0.25%				-		19.27				1		0.92%		-15.25%
Lord Abbett Series Fund, Inc. - Total Return Portfolio: Class VC (LOVTRC)
2018		0.25%				6,921		10.43				72,206		2.52%		-1.27%
2017		0.25%				11,152		10.57				117,850		2.38%		3.61%
MFS(R) Variable Insurance Trust II - MFS Research International Portfolio: Service Class (MV2RIS)
2021		0.10%				6,355		15.83				100,621		0.68%		11.16%
2020		0.10%				6,419		14.24				91,434		1.87%		12.60%
2019		0.10%				6,231		12.65				78,824		1.22%		27.54%
2018		0.10%				6,943		9.92				68,864		1.19%		-14.40%
2017		0.25%				7,638		11.54				88,141		1.62%		27.58%
MFS(R) Variable Insurance Trust II - MFS Blended Research(R) Core Equity Portfolio: Service Class (MVBRES)
2021		0.10%				60,970		25.37				1,546,868		0.91%		29.05%
2020		0.10%				62,963		19.66				1,237,803		1.42%		14.95%
2019		0.25%				66,398		16.96				1,125,982		1.24%		28.55%
2018		0.25%				72,920		13.19				961,936		1.11%		-8.22%
2017		0.25%				85,684		14.37				1,231,555		1.30%		20.17%
MFS(R) Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)
2021		0.10%				42,354		30.35				1,285,503		1.10%		25.03%
2020		0.10%				57,202		24.27				1,388,570		1.38%		3.12%
2019		0.10%	to	0.25%		61,128		23.54	to	23.11		1,414,943		1.91%		29.38%	to	29.18%
2018		0.10%	to	0.25%		68,527		18.20	to	17.89		1,227,703		1.32%		-10.45%	to	-10.58%
2017		0.25%				88,679		20.01				1,774,294		1.69%		17.06%
MFS(R) Variable Insurance Trust II - MFS International Intrinsic Value Portfolio: Service Class (MVIVSC)
2021		0.10%				17,498		43.81				766,580		0.10%		10.17%
2020		0.10%				36,465		39.77				1,450,100		0.77%		20.09%
2019		0.25%				42,186		32.59				1,374,834		1.52%		25.34%
2018		0.25%				55,150		26.00				1,433,975		0.93%		-9.95%
2017		0.25%				57,078		28.87				1,648,096		1.28%		26.50%

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

	Contract Expense Rate*				Units		Unit Fair Value				Contract Owners’ Equity		Investment Income Ratio**		Total Return***
Morgan Stanley Variable Insurance Fund, Inc. - Emerging Markets Debt Portfolio: Class I (MSEM)
2021		0.10%				173		56.14				9,713		5.10%		-2.12%
2020		0.10%				183		57.36				10,497		4.50%		5.44%
2019		0.10%				196		54.40				10,663		5.31%		14.14%
2018		0.25%				299		33.47				10,008		5.59%		-7.18%
2017		0.25%				317		36.06				11,431		5.41%		9.44%
Morgan Stanley Variable Insurance Fund, Inc. - Discovery Portfolio: Class I (MSVMG)
2021		0.10%				15		73.20				1,098		0.00%		-11.15%
2020		0.10%				15		82.39				1,236		0.00%		152.05%
2019		0.10%				17		32.69				556		0.00%		39.97%
2018		0.25%				18		22.71				409		0.00%		10.37%
2017		0.25%				19		20.58				391		0.00%		38.42%
Morgan Stanley Variable Insurance Fund, Inc. - U.S. Real Estate Portfolio: Class I (MSVRE)
2021		0.10%	to	0.20%		992		83.98	to	63.14		62,948		2.31%		39.66%	to	39.52%
2020		0.10%	to	0.20%		530		60.13	to	45.25		24,164		2.79%		-16.93%	to	-17.02%
2019		0.10%	to	0.20%		674		72.39	to	54.53		36,989		1.88%		18.82%	to	18.70%
2018		0.20%	to	0.25%		723		45.94	to	47.69		33,248		2.33%		-7.90%	to	-7.95%
2017		0.20%	to	0.25%		468		49.88	to	51.81		23,382		1.46%		2.90%	to	2.85%
Nationwide Variable Insurance Trust - NVIT BlackRock Equity Dividend Fund: Class I (EIF)
2021		0.10%				23		37.23				856		1.28%		20.17%
2020		0.10%				25		30.98				775		1.75%		3.53%
2019		0.10%				26		29.93				778		1.83%		27.18%
2018		0.25%				27		24.87				671		1.79%		-7.49%
2017		0.25%				28		26.88				753		3.12%		17.70%
Nationwide Variable Insurance Trust - NVIT Government Bond Fund: Class I (GBF)
2021		0.10%	to	0.25%		25,494		22.74	to	23.13		517,045		1.87%		-2.18%	to	-2.33%
2020		0.10%	to	0.25%		14,955		23.25	to	23.69		319,245		2.58%		5.98%	to	5.82%
2019		0.10%	to	0.25%		12,018		21.94	to	22.38		245,013		1.62%		6.16%	to	6.00%
2018		0.20%	to	0.25%		24,117		17.82	to	21.12		490,408		2.24%		-0.25%	to	-0.30%
2017		0.20%	to	0.25%		22,919		17.87	to	21.18		470,434		2.13%		1.88%	to	1.83%
Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class I (GEM)
2021		0.10%				3		34.24				103		3.96%		-7.37%
2020		0.10%				3		36.96				111		0.00%		13.19%
2019		0.10%	to	0.25%		26,895		32.66	to	31.73		853,265		2.45%		22.82%	to	22.64%
2018		0.25%				28,318		25.87				732,594		0.69%		-17.62%
2017		0.25%				29,557		31.40				928,235		1.36%		41.15%
Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)
2021		0.10%				34,061		25.03				852,432		2.55%		12.55%
2020		0.10%				35,175		22.24				782,173		1.21%		7.84%
2019		0.10%	to	0.25%		37,857		20.62	to	20.03		758,393		2.69%		19.00%	to	18.82%
2018		0.25%				35,919		16.86				605,577		2.08%		-14.75%
2017		0.25%				34,652		19.78				685,264		1.73%		27.13%
Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Aggressive Fund: Class II (GVDMA)
2018		0.25%				-		24.57				2		1.54%		-7.96%
Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderate Fund: Class II (GVIDM)
2021		0.10%				11,820		32.83				388,013		0.19%		10.20%
2020		0.10%	to	0.25%		12,105		29.79	to	28.95		355,787		0.16%		10.23%	to	10.07%
2019		0.10%	to	0.25%		1,333		27.02	to	26.30		35,415		2.17%		17.63%	to	17.45%
2018		0.10%	to	0.25%		1,434		22.97	to	22.40		32,440		1.66%		-5.77%	to	-5.92%
2017		0.25%				1,444		23.80				34,374		1.76%		12.65%
Nationwide Variable Insurance Trust - NVIT Federated High Income Bond Fund: Class I (HIBF)
2021		0.10%	to	0.25%		33,536		34.49	to	34.72		1,156,953		4.82%		4.86%	to	4.70%
2020		0.10%	to	0.25%		33,111		32.89	to	33.16		1,089,568		5.45%		5.91%	to	5.75%
2019		0.10%	to	0.25%		33,173		31.06	to	31.36		1,039,748		5.77%		14.63%	to	14.45%
2018		0.20%	to	0.25%		33,464		27.06	to	27.40		916,701		5.95%		-3.19%	to	-3.24%
2017		0.20%	to	0.25%		33,986		27.95	to	28.32		962,171		5.31%		6.54%	to	6.49%
Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class I (MCIF)
2021		0.10%				101,008		92.67				9,360,177		1.06%		24.13%
2020		0.10%				133,716		74.65				9,982,001		1.20%		13.00%
2019		0.10%	to	0.20%		196,513		66.06	to	47.86		9,487,398		1.24%		25.53%	to	25.40%
2018		0.10%	to	0.25%		233,975		52.63	to	49.43		9,013,393		1.28%		-11.47%	to	-11.61%
2017		0.20%	to	0.25%		238,155		43.15	to	55.92		10,382,808		1.11%		15.55%	to	15.49%

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

	Contract Expense Rate*				Units		Unit Fair Value				Contract Owners’ Equity		Investment Income Ratio**		Total Return***
Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)
2021		0.10%				105		28.50				2,992		5.47%		5.13%
2020		0.10%				111		27.10				3,009		3.43%		3.96%
2019		0.10%				119		26.07				3,103		4.80%		9.06%
2018		0.25%				131		23.15				3,033		2.73%		-2.59%
2017		0.25%				139		23.77				3,303		4.66%		6.07%
Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)
2021		0.10%				424		15.95				6,762		1.36%		34.57%
2020		0.10%				446		11.85				5,286		1.31%		18.52%		*	***
Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class I (NVBX)
2021		0.10%				634,951		12.21				7,753,139		2.27%		-2.18%
2020		0.10%				479,419		12.48				5,984,254		2.35%		7.09%
2019		0.25%				449,920		11.56				5,199,875		2.99%		8.13%
2018		0.25%				312,315		10.69				3,338,264		2.53%		-0.61%
2017		0.25%				369,110		10.75				3,969,717		2.52%		2.86%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Conservative Fund: Class I (NVCCN1)
2021		0.10%				856		18.61				15,927		0.21%		4.38%
2020		0.10%				904		17.83				16,114		0.25%		7.58%
2019		0.10%				970		16.57				16,072		2.57%		10.66%
2018		0.25%				1,053		14.76				15,539		2.29%		-2.75%
2017		0.25%				1,118		15.17				16,965		2.15%		6.09%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Aggressive Fund: Class I (NVCMA1)
2021		0.10%				818		37.07				30,319		0.24%		18.00%
2020		0.10%				863		31.41				27,108		1.09%		12.25%
2019		0.10%				927		27.98				25,941		2.94%		22.20%
2018		0.25%				1,006		22.57				22,706		2.10%		-9.62%
2017		0.25%				1,068		24.97				26,670		1.59%		17.86%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderately Conservative Fund: Class I (NVCMC1)
2021		0.10%				155		23.83				3,694		0.25%		9.12%
2020		0.10%				163		21.84				3,560		0.56%		9.04%
2019		0.10%				175		20.03				3,505		2.69%		14.16%
2018		0.25%				190		17.29				3,285		2.28%		-4.92%
2017		0.25%				202		18.19				3,674		2.00%		9.80%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Moderate Fund: Class I (NVCMD1)
2021		0.10%				20		30.04				601		0.27%		13.52%
2020		0.10%				21		26.46				556		0.84%		10.66%
2019		0.10%				22		23.91				526		2.83%		18.20%
2018		0.25%				24		19.94				479		2.16%		-7.30%
2017		0.25%				26		21.51				559		1.87%		13.77%
Nationwide Variable Insurance Trust - NVIT Blueprint(SM) Aggressive Fund: Class I (NVCRA1)
2021		0.10%				3		41.71				125		0.19%		20.07%
2020		0.10%				3		34.74				104		1.14%		12.63%
2019		0.10%				3		30.85				93		2.92%		24.02%
2018		0.25%				3		24.51				74		1.93%		-10.95%
2017		0.25%				4		27.53				110		1.37%		19.69%
Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)
2021		0.10%				1,010		50.33				50,833		0.00%		40.31%
2020		0.10%				1,051		35.87				37,700		0.00%		29.96%
2019		0.10%				759		27.60				20,949		1.48%		30.40%
2018		0.10%	to	0.25%		3,544		21.17	to	20.83		74,159		0.90%		-3.17%	to	-3.32%
2017		0.25%				875		21.55				18,853		0.36%		29.88%
Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class I (NVMMG1)
2021		0.10%				23		42.27				972		0.12%		-4.80%
2020		0.10%				24		44.40				1,066		0.00%		60.74%
2019		0.10%				26		27.62				718		0.00%		37.12%
2018		0.25%				28		19.83				555		0.00%		-7.08%
2017		0.25%				30		21.34				640		0.00%		27.42%
Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class I (NVOLG1)
2021		0.10%				175		27.66				4,841		0.49%		30.11%
2020		0.10%				185		21.26				3,933		0.77%		18.78%
2019		0.10%	to	0.25%		4,276		17.90	to	17.80		76,283		3.42%		37.48%	to	37.27%
2018		0.25%				213		12.97				2,762		0.06%		-1.52%
2017		0.25%				5,025		13.17				66,166		0.50%		26.99%
Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class I (SAM)
2018		0.25%				-		13.58				1		0.00%		1.14%

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

	Contract Expense Rate*				Units		Unit Fair Value				Contract Owners’ Equity		Investment Income Ratio**		Total Return***
Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class V (SAM5)
2021		0.10%	to	0.25%		8,327,142		11.98	to	11.64		99,730,008		0.00%		-0.10%	to	-0.25%
2020		0.10%	to	0.25%		7,558,764		11.99	to	11.67		90,616,989		0.26%		0.16%	to	0.01%
2019		0.10%	to	0.25%		7,498,692		11.97	to	11.67		88,973,941		1.81%		1.73%	to	1.58%
2018		0.10%	to	0.25%		7,455,119		11.77	to	11.48		86,698,579		1.42%		1.34%	to	1.19%
2017		0.20%	to	0.25%		7,953,989		11.44	to	11.35		90,563,654		0.47%		0.27%	to	0.22%
Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Company Fund: Class I (SCF)
2021		0.10%				9,940		102.59				1,019,732		0.00%		30.71%
2020		0.10%				16,787		78.49				1,317,588		0.02%		22.57%
2019		0.10%	to	0.25%		22,870		64.04	to	54.63		1,256,924		0.07%		25.52%	to	25.33%
2018		0.10%	to	0.25%		24,425		51.02	to	43.58		1,068,846		0.01%		-12.72%	to	-12.85%
2017		0.25%				23,974		50.01				1,198,999		0.00%		13.20%
Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Growth Fund: Class I (SCGF)
2021		0.10%				9		70.64				636		0.00%		10.20%
2020		0.10%				10		64.11				641		0.00%		40.75%
2019		0.10%				10		45.55				455		0.00%		35.58%
2018		0.25%				12		32.62				391		0.00%		-8.17%
2017		0.25%				12		35.52				426		0.00%		24.61%
Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Value Fund: Class I (SCVF)
2021		0.10%				130		93.15				12,109		0.00%		31.91%
2020		0.10%				138		70.61				9,745		0.08%		5.05%
2019		0.10%				148		67.22				9,949		1.06%		18.88%
2018		0.25%				199		44.87				8,930		0.67%		-17.16%
2017		0.25%				224		54.17				12,134		0.49%		8.79%
Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)
2021		0.10%				6,334		44.95				284,741		0.79%		21.76%
2020		0.10%				6,375		36.92				235,368		1.18%		10.24%
2019		0.10%				6,419		33.49				214,970		1.19%		29.18%
2018		0.25%				6,449		26.05				167,978		1.11%		-0.25%
2017		0.25%				6,503		26.11				169,815		1.05%		20.22%
Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: I Class Shares (AMCG)
2021		0.10%				9		72.84				656		0.00%		12.88%
2020		0.10%				9		64.53				581		0.00%		39.84%
2019		0.10%				10		46.14				461		0.00%		32.62%
2018		0.25%				10		37.33				373		0.00%		-6.64%
2017		0.25%				11		39.98				440		0.00%		24.98%
Neuberger Berman Advisers Management Trust - Sustainable Equity Portfolio: Class I Shares (AMSRS)
2021		0.10%				54,260		16.11				874,028		0.38%		23.35%
2020		0.10%				54,609		13.06				713,114		0.63%		19.44%
2019		0.10%				54,990		10.93				601,200		0.41%		9.33%		*	***
PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)
2021		0.10%				703		28.14				19,786		11.09%		16.12%
2020		0.10%				743		24.24				18,009		5.02%		7.90%
2019		0.10%				797		22.46				17,903		2.94%		11.78%
2018		0.25%				871		19.66				17,122		3.18%		-5.64%
2017		0.25%				925		20.83				19,271		4.66%		13.26%
PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)
2021		0.10%				23,849		12.30				293,447		4.46%		3.54%
2020		0.10%				21,332		11.88				253,497		4.81%		5.61%
2019		0.10%				19,969		11.25				224,689		3.66%		14.61%		*	***
PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)
2021		0.10%	to	0.25%		40,862		16.52	to	16.05		672,215		0.52%		-1.03%	to	-1.17%
2020		0.10%	to	0.25%		46,839		16.69	to	16.24		777,861		1.17%		2.89%	to	2.73%
2019		0.10%	to	0.25%		37,423		16.22	to	15.81		605,387		2.77%		3.92%	to	3.77%
2018		0.20%	to	0.25%		36,229		15.36	to	15.23		551,901		1.91%		0.14%	to	0.09%
2017		0.20%	to	0.25%		36,718		15.34	to	15.22		558,875		1.35%		1.15%	to	1.10%
PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)
2021		0.10%				16,288		24.61				400,807		4.87%		5.44%
2020		0.10%				32,360		23.34				755,205		1.38%		11.60%
2019		0.10%	to	0.25%		35,365		20.91	to	20.37		720,682		1.71%		8.33%	to	8.16%
2018		0.25%				123,552		18.84				2,327,174		2.46%		-2.46%
2017		0.25%				125,343		19.31				2,420,422		2.37%		3.40%

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

	Contract Expense Rate*				Units		Unit Fair Value				Contract Owners’ Equity		Investment Income Ratio**		Total Return***
PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)
2021		0.10%	to	0.25%		248,126		24.24	to	23.54		6,009,919		1.83%		-1.36%	to	-1.51%
2020		0.10%	to	0.25%		247,480		24.57	to	23.90		6,076,401		2.07%		8.53%	to	8.37%
2019		0.10%	to	0.25%		171,990		22.64	to	22.06		3,884,109		3.01%		8.25%	to	8.08%
2018		0.10%	to	0.25%		31,999		20.92	to	20.41		659,550		2.57%		-0.64%	to	-0.79%
2017		0.20%	to	0.25%		27,506		20.73	to	20.57		565,823		2.02%		4.71%	to	4.66%
Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)
2021		0.10%	to	0.25%		2,097		58.71	to	57.04		120,657		0.00%		29.85%	to	29.65%
2020		0.10%	to	0.25%		1,289		45.22	to	43.99		57,147		0.00%		23.67%	to	23.48%
2019		0.10%	to	0.25%		2,056		36.56	to	35.62		73,710		0.00%		19.43%	to	19.25%
2018		0.20%	to	0.25%		2,292		30.12	to	29.87		68,814		0.00%		-9.23%	to	-9.27%
2017		0.20%	to	0.25%		2,169		33.18	to	32.93		71,740		0.60%		4.98%	to	4.92%
T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio (TRBCGP)
2021		0.10%				10,076		49.38				497,597		0.00%		17.50%
2020		0.10%				16,717		42.03				702,581		0.00%		34.14%
2019		0.10%				18,716		31.33				586,377		0.00%		29.76%
2018		0.25%				2,517		23.92				60,214		0.00%		1.66%
2017		0.25%				5,941		23.53				139,804		0.00%		35.83%
T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)
2021		0.10%	to	0.25%		4,828		48.81	to	47.42		230,806		1.38%		25.09%	to	24.90%
2020		0.10%	to	0.25%		4,971		39.02	to	37.96		189,239		2.25%		0.86%	to	0.70%
2019		0.10%	to	0.25%		2,533		38.69	to	37.70		96,048		2.08%		25.92%	to	25.73%
2018		0.20%	to	0.25%		2,656		30.23	to	29.98		79,643		1.75%		-9.87%	to	-9.92%
2017		0.20%	to	0.25%		2,677		33.54	to	33.28		89,111		1.47%		15.50%	to	15.44%
T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited-Term Bond Portfolio (TRLT1)
2021		0.10%				428,858		11.76				5,042,728		1.30%		0.04%
2020		0.10%				285,870		11.75				3,360,221		1.95%		4.60%
2019		0.25%				215,994		11.09				2,394,371		2.38%		4.09%
2018		0.25%				240,929		10.65				2,565,797		2.03%		0.92%
2017		0.25%				179,525		10.55				1,894,364		1.47%		0.81%
T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)
2021		0.10%				3,566		114.14				407,010		0.00%		14.45%
2020		0.10%	to	0.25%		3,671		99.72	to	97.02		364,975		0.00%		23.35%	to	23.17%
2019		0.10%	to	0.25%		4,216		80.85	to	78.77		334,175		0.00%		30.85%	to	30.65%
2018		0.10%	to	0.25%		5,004		61.79	to	60.29		302,816		0.00%		-2.40%	to	-2.54%
2017		0.25%				5,544		61.87				342,983		0.00%		24.13%
T. Rowe Price Equity Series, Inc. - T. Rowe Price All-Cap Opportunities Portfolio (TRNAG1)
2021		0.10%				58		89.26				5,177		0.00%		20.68%
2020		0.10%				61		73.96				4,512		0.00%		44.23%
2019		0.10%				65		51.28				3,333		0.41%		34.79%
2018		0.25%				71		37.22				2,642		0.16%		0.90%
2017		0.25%				76		36.88				2,803		0.10%		34.09%
VanEck VIP Trust - Emerging Markets Fund: Initial Class (VWEM)
2021		0.10%				6,729		66.14				445,066		0.92%		-11.96%
2020		0.10%				6,957		75.12				522,635		1.01%		17.13%
2019		0.10%	to	0.25%		39,293		64.14	to	43.63		1,722,192		0.43%		30.46%	to	30.27%
2018		0.25%				37,949		33.50				1,271,119		0.28%		-23.68%
2017		0.25%				37,965		43.89				1,666,161		0.42%		50.66%
VanEck VIP Trust - Global Resources Fund: Initial Class (VWHA)
2021		0.10%				36		49.69				1,789		0.43%		18.80%
2020		0.10%				38		41.83				1,589		0.93%		18.99%
2019		0.10%				41		35.15				1,441		0.00%		11.76%
2018		0.25%				64		21.55				1,379		0.00%		-28.46%
2017		0.25%				68		30.13				2,049		0.00%		-1.94%
Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)
2021		0.10%				12		59.31				712		0.01%		24.65%
2020		0.10%				12		47.58				571		0.44%		20.88%
2019		0.10%				13		39.36				512		0.28%		31.33%
2018		0.25%				15		29.14				437		0.19%		-7.38%
2017		0.25%				15		31.47				472		0.66%		20.14%

* This represents the 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.

NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021

** 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 policyholder 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 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.