COLI VUL-2 Series Account of
Empower Annuity Insurance
Company of America 

Financial Statements December 31, 2022

Index

COLI VUL-2 Series Account of

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

	Page(s)
Report of Independent Registered Public Accounting Firm	1
Statement of Assets and Liabilities as of December 31, 2022	13
Statement of Operations for the year ended December 31, 2022	32
Statements of Changes in Net Assets for each of the years or periods in the two-year period ended December 31, 2022	51
Notes to Financial Statements	89

Report of Independent Registered Public Accounting Firm

To the Policy Owners of COLI VUL-2 Series Account and Those Charged with Governance of COLI VUL-2 Series Account of Empower Annuity Insurance Company of America:

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of the subaccounts listed in Appendix A that comprise COLI VUL-2 Series Account (the Separate Account) as of December 31, 2022, the related statements of operations for the year then ended, the statements of changes in net assets for each of the years or periods in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years or periods in the two-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Separate Account as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the years or periods in the two-year period then ended, and the financial highlights for each of the years or periods in the two-year period then ended, in conformity with U.S. generally accepted accounting principles. The financial highlights for each of the years in the three-year period ended December 31, 2020 were audited by other independent registered public accountants whose report, dated May 10, 2021, expressed an unqualified opinion on those financial highlights.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the 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 and financial highlights 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 and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of December 31, 2022, by correspondence with the underlying mutual funds or their transfer agents; when replies were not received, we performed other 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 and financial highlights. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the auditor of one or more Empower Annuity Insurance Company of America Separate Accounts since 2021.

Birmingham, Alabama
April 13, 2023

1 

Appendix A

The investment divisions that comprise COLI VUL-2 Series Account were audited according to varying periods as defined in the table below:

Investment Division	Statements of Assets and Liabilities	Statements of Operations	Statements of Changes in Net Assets
Alger Small Cap Growth Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
American Century Investments VP Capital Appreciation Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
American Century Investments VP Inflation Protection Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
American Century Investments VP International Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
American Century Investments VP Mid Cap Value Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
American Century Investments VP Ultra Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the periods in the period from February 11, 2021 (commencement of operations) to December 31, 2022
American Century Investments VP Value Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
American Fund Is Growth and Income Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
American Funds IS Global Small Capitalization Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
American Funds IS Growth Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
American Funds IS International Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022

2 

American Funds IS New World Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Blackrock 60/40 Target Allocation ETF VI Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the periods in the period from August 26,2021 (commencement of operations) to December 31, 2022
Blackrock Global Allocation VI Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Blackrock High Yield VI Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
BNY Mellon Stock Index Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Clearbridge Variable Mid Cap Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Clearbridge Variable Small Cap Growth Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Columbia Variable Portfolio - Small Cap Value Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Davis Financial Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Davis Value Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Delaware VIP International Series	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Delaware VIP Small Cap Value Series	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
DFA VIT Inflation-Protected Securities	As of December 31, 2022	For the period from April 21, 2022 (commencement of operations) to December 31, 2022	For the period from April 21, 2022 (commencement of operations) to December 31, 2022

3 

DWS Core Equity VIP	As of December 31, 2022	For the year then ended December 31, 2022	For the period from August 26, 2021 (commencement of operations) to December 31, 2022
DWS Croci® U.S. VIP	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
DWS High Income VIP	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
DWS Small CAP Index VIP	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
DWS Small Mid Cap Value VIP	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Eaton Vance Vt Floating-Rate Income Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Aggressive Profile Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Ariel Mid Cap Value Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Bond Index Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Conservative Profile Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Core Bond Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Emerging Markets Equity Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Global Bond Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022

4 

Empower Government Money Market Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Inflation-Protected Securities Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower International Index Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower International Value Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Large Cap Growth Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Large Cap Value Fund Investor II Class Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Lifetime 2015 Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Lifetime 2020 Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Lifetime 2025 Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Lifetime 2030 Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Lifetime 2035 Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Lifetime 2040 Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Lifetime 2045 Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022

5 

Empower Lifetime 2050 Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Lifetime 2055 Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Lifetime 2060 Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the periods in the period from August 26, 2021 (commencement of operations) to December 31, 2022
Empower Mid Cap Value Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Moderate Profile Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Moderately Aggressive Profile Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Moderately Conservative Profile Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Multi-Sector Bond Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Real Estate Index Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower S&P Mid Cap 400® Index Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower S&P Small Cap 600® Index Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Short Duration Bond Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower Small Cap Growth Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the periods in the period from August 26, 2021 (commencement of operations) to December 31, 2022

6 

Empower Small Cap Value Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower T. Rowe Price Mid Cap Growth Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Empower U.S. Government Securities Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Federated Hermes High Income Bond Fund II	As of December 31, 2022	For the year then ended December 31, 2022	For each of the periods in the period from February 11, 2021 (commencement of operations) to December 31, 2022
Federated Hermes Kaufmann Fund II	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Fidelity VIP Contrafund Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Fidelity VIP Emerging Markets Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Fidelity VIP Growth Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Fidelity VIP Index 500 Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the periods in the period from December 6, 2021 (commencement of operations) to December 31, 2022
Fidelity VIP Investment Grade Bond Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Fidelity VIP Mid Cap Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Goldman Sachs VIT Mid Cap Value Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022

7 

Goldman Sachs VIT Multi-Strategy Alternatives Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Invesco Oppenheimer V.I. Main Street Small Cap Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Invesco V.I. Core Equity Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Invesco V.I. Global Real Estate Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Invesco V.I. Health Care Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Invesco V.I. International Growth Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Invesco V.I. Technology Fund	Not applicable	Not applicable	For the period from January 1, 2021 to March 31, 2021 (cessation of operations)
Invesco V.I. Mid Cap Core Equity Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Janus Henderson VIT Balanced Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Janus Henderson VIT Enterprise Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Janus Henderson VIT Flexible Bond Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Janus Henderson VIT Forty Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Janus Henderson VIT Global Research Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022

8 

Janus Henderson VIT Global Technology and Innovation Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Janus Henderson VIT Overseas Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
JP Morgan Insurance Trust Small Cap Core Portfolio	As of December 31, 2022	For the period from January 3, 2022 (commencement of operations) to December 31, 2022	For the period from January 3, 2022 (commencement of operations) to December 31, 2022
JP Morgan Insurance Trust Us Equity Portfolio	As of December 31, 2022	For the period from January 3, 2022 (commencement of operations) to December 31, 2022	For the period from January 3, 2022 (commencement of operations) to December 31, 2022
Lord Abbett Series Developing Growth Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Lord Abbett Series Total Return Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
MFS VIT Growth Series	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
MFS VIT II International Growth Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
MFS VIT III Blended Research Small Cap Equity Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
MFS VIT III Global Real Estate Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
MFS VIT III Mid Cap Value Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
MFS VIT Mid Cap Growth Series	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022

9 

MFS VIT Research Series	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
MFS VIT Total Return Bond Series	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
MFS VIT Value Series	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Neuberger Berman AMT Mid Cap Growth Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Neuberger Berman AMT Sustainable Equity Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
PIMCO VIT Commodity Real Return Strategy Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the periods in the period from May 28, 2021 (commencement of operations) to December 31, 2022
PIMCO VIT Global Bond Opportunities Portfolio (Unhedged)	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
PIMCO VIT High Yield Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
PIMCO VIT Low Duration Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
PIMCO VIT Real Return Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
PIMCO VIT Total Return Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Pioneer Real Estate Shares VCT Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022

10 

Putnam VT Equity Income Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Putnam VT Global Asset Allocation Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Putnam VT Global Equity Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Putnam VT Growth Opportunities Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Putnam VT High Yield Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Putnam VT Income Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Putnam VT International Value Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Putnam VT Research Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the periods in the period from February 11, 2021 (commencement of operations) to December 31, 2022
Putnam VT Small Cap Value Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Putnam VT Sustainable Future Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Royce Capital Fund - Small-Cap Portfolio	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
T. Rowe Price Blue Chip Growth Portfolio Class II	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Van Eck VIP Emerging Markets Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022

11 

Van Eck VIP Global Hard Assets Fund	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022
Vanguard VIF Global Bond Index	As of December 31, 2022	For the year then ended December 31, 2022	For each of the periods in the period from December 6, 2021 (commencement of operations) to December 31, 2022
Vanguard VIF Total Bond Market Index	As of December 31, 2022	For the year then ended December 31, 2022	For each of the periods in the period from December 6, 2021 (commencement of operations) to December 31, 2022
Victory RS Small Cap Growth Equity VIP	As of December 31, 2022	For the year then ended December 31, 2022	For each of the years in the two-year period then ended December 31, 2022

12 

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Alger Small Cap Growth Portfolio		American Century Investments VP Capital Appreciation Fund		American Century Investments VP Inflation Protection Fund		American Century Investments VP International Fund		American Century Investments VP Mid Cap Value Fund		American Century Investments VP Ultra Fund		American Century Investments VP Value Fund
ASSETS:
Investments at fair value (1)	$	389,563	$	422,378	$	3,548,030	$	43,337	$	1,526,224	$	167,122	$	937,414
Due from the Policies		-		-		-		-		140		-		-
Due from the fund manager		-		-		-		-		-		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		389,563		422,378		3,548,030		43,337		1,526,364		167,122		937,414
LIABILITIES:
Due to the Policies		-		-		-		-		-		-		-
Due to the fund manager		-		-		-		-		140		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		-		-		-		140		-		-
NET ASSETS	$	389,563	$	422,378	$	3,548,030	$	43,337	$	1,526,224	$	167,122	$	937,414
Fair value per share (NAV)	$	14.19	$	11.80	$	9.37	$	9.53	$	21.15	$	19.34	$	12.45
Shares outstanding in the Separate Account		27,453		35,795		378,659		4,547		72,162		8,641		75,294
(1) Investments in mutual fund shares, at cost	$	707,417	$	521,412	$	3,951,704	$	38,852	$	1,696,105	$	260,251	$	916,639

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

13

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	American Fund IS Growth and Income Fund		American Funds IS Global Small Capitalization Fund		American Funds IS Growth Fund		American Funds IS International Fund		American Funds IS New World Fund		Blackrock 60/40 Target Allocation ETF VI Fund		Blackrock Global Allocation VI Fund
ASSETS:
Investments at fair value (1)	$	290	$	56,372	$	2,896,145	$	1,547,581	$	1,373,871	$	20	$	2,503,155
Due from the Policies		-		-		-		-		-		-		-
Due from the fund manager		-		-		-		-		10		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		290		56,372		2,896,145		1,547,581		1,373,881		20		2,503,155
LIABILITIES:
Due to the Policies		-		-		-		-		10		-		-
Due to the fund manager		-		-		-		-		-		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		-		-		-		10		-		-
NET ASSETS	$	290	$	56,372	$	2,896,145	$	1,547,581	$	1,373,871	$	20	$	2,503,155
Fair value per share (NAV)	$	49.42	$	15.30	$	75.40	$	15.23	$	22.02	$	11.57	$	14.77
Shares outstanding in the Separate Account		6		3,684		38,410		101,614		62,392		2		169,476
(1) Investments in mutual fund shares, at cost	$	300	$	100,376	$	3,439,477	$	2,250,196	$	1,735,622	$	23	$	3,216,883

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

14

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Blackrock High Yield VI Fund		BNY Mellon Stock Index Portfolio		Clearbridge Variable Mid Cap Portfolio		Clearbridge Variable Small Cap Growth Portfolio		Columbia Variable Portfolio - Small Cap Value Fund		Davis Financial Portfolio		Davis Value Portfolio
ASSETS:
Investments at fair value (1)	$	689,159	$	24,574,953	$	112,207	$	408,515	$	116,359	$	321,428	$	127,135
Due from the Policies		-		3,494		-		2,288		-		-		-
Due from the fund manager		-		-		-		-		-		-		-
Receivable dividends and other		3,709		-		-		-		-		-		-
Total assets		692,868		24,578,447		112,207		410,803		116,359		321,428		127,135
LIABILITIES:
Due to the Policies		-		-		-		-		-		-		-
Due to the fund manager		-		3,494		-		2,288		-		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		3,494		-		2,288		-		-		-
NET ASSETS	$	692,868	$	24,574,953	$	112,207	$	408,515	$	116,359	$	321,428	$	127,135
Fair value per share (NAV)	$	6.45	$	57.81	$	20.36	$	25.23	$	11.50	$	12.06	$	5.28
Shares outstanding in the Separate Account		106,846		425,099		5,511		16,192		10,118		26,652		24,079
(1) Investments in mutual fund shares, at cost	$	791,502	$	25,621,916	$	129,174	$	422,453	$	121,156	$	378,708	$	190,490

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

15

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Delaware VIP International Series		Delaware VIP Small Cap Value Series		DFA VIT Inflation- Protected Securities		DWS Core Equity VIP		DWS High Income VIP		DWS Small Cap Index VIP		DWS Small Mid Cap Value VIP
ASSETS:
Investments at fair value (1)	$	59,537	$	522,378	$	157,107	$	20	$	230,525	$	7,629,153	$	1,334,783
Due from the Policies		-		342		-		-		-		1,936		-
Due from the fund manager		-		-		2,145		-		-		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		59,537		522,720		159,252		20		230,525		7,631,088		1,334,783
LIABILITIES:
Due to the Policies		-		-		2,145		-		-		-		-
Due to the fund manager		-		342		-		-		-		1,936		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		342		2,145		-		-		1,936		-
NET ASSETS	$	59,537	$	522,378	$	157,107	$	20	$	230,525	$	7,629,153	$	1,334,783
Fair value per share (NAV)	$	14.94	$	36.82	$	-	$	10.28	$	5.34	$	12.12	$	12.73
Shares outstanding in the Separate Account		3,985		14,187		-		2		43,169		629,468		104,853
(1) Investments in mutual fund shares, at cost	$	73,291	$	612,512	$	172,711	$	23	$	259,438	$	9,974,891	$	1,369,501

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

16

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Eaton Vance Vt Floating-Rate Income Fund		Empower Aggressive Profile Fund		Empower Ariel Mid Cap Value Fund		Empower Bond Index Fund		Empower Conservative Profile Fund		Empower Core Bond Fund		Empower Emerging Markets Equity Fund
ASSETS:
Investments at fair value (1)	$	1,382,938	$	555,952	$	178,267	$	3,453,324	$	1,134,192	$	122,505	$	60,808
Due from the Policies		-		182		-		-		-		-		-
Due from the fund manager		-		-		-		1,148		681		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		1,382,938		556,134		178,267		3,454,472		1,134,873		122,505		60,808
LIABILITIES:
Due to the Policies		-		-		-		1,148		681		-		-
Due to the fund manager		-		182		-		-		-		-		-
Payable dividends and other		336		-		-		-		-		-		-
Total liabilities		336		182		-		1,148		681		-		-
NET ASSETS	$	1,382,602	$	555,952	$	178,267	$	3,453,324	$	1,134,192	$	122,505	$	60,808
Fair value per share (NAV)	$	8.44	$	4.92	$	9.31	$	12.39	$	7.11	$	9.34	$	7.78
Shares outstanding in the Separate Account		163,855		112,998		19,148		278,719		159,521		13,116		7,816
(1) Investments in mutual fund shares, at cost	$	1,481,211	$	722,345	$	217,180	$	4,034,070	$	1,214,358	$	130,046	$	63,171

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

17

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Global Bond Fund		Empower Government Money Market Fund		Empower Inflation- Protected Securities Fund		Empower International Index Fund		Empower International Value Fund		Empower Large Cap Growth Fund		Empower Large Cap Value Fund Investor II Class Fund
ASSETS:
Investments at fair value (1)	$	1,385,910	$	32,774,717	$	20	$	4,531,218	$	6,403,030	$	428,143	$	2,438,111
Due from the Policies		-		-		-		293		101		2,582		-
Due from the fund manager		-		21,217		-		-		-		-		-
Receivable dividends and other		-		6,493		-		-		-		-		-
Total assets		1,385,910		32,802,427		20		4,531,511		6,403,131		430,725		2,438,111
LIABILITIES:
Due to the Policies		-		21,217		-		-		-		-		-
Due to the fund manager		-		-		-		293		101		2,582		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		21,217		-		293		101		2,582		-
NET ASSETS	$	1,385,910	$	32,781,210	$	20	$	4,531,218	$	6,403,030	$	428,143	$	2,438,111
Fair value per share (NAV)	$	6.64	$	1.00	$	8.84	$	10.97	$	10.53	$	6.96	$	10.77
Shares outstanding in the Separate Account		208,721		32,774,717		2		413,055		608,075		61,515		226,380
(1) Investments in mutual fund shares, at cost	$	1,662,229	$	32,774,717	$	23	$	5,075,287	$	7,341,534	$	484,661	$	2,301,689

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

18

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Lifetime 2015 Fund		Empower Lifetime 2020 Fund		Empower Lifetime 2025 Fund		Empower Lifetime 2030 Fund		Empower Lifetime 2035 Fund		Empower Lifetime 2040 Fund		Empower Lifetime 2045 Fund
ASSETS:
Investments at fair value (1)	$	565,736	$	640,187	$	7,624,081	$	2,839,355	$	2,168,690	$	1,709,807	$	874,382
Due from the Policies		-		-		-		-		24		51		1,047
Due from the fund manager		-		-		22		459		-		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		565,736		640,187		7,624,103		2,839,814		2,168,714		1,709,859		875,428
LIABILITIES:
Due to the Policies		-		-		22		459		-		-		-
Due to the fund manager		-		-		-		-		24		51		1,047
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		-		22		459		24		51		1,047
NET ASSETS	$	565,736	$	640,187	$	7,624,081	$	2,839,355	$	2,168,690	$	1,709,807	$	874,382
Fair value per share (NAV)	$	12.06	$	9.39	$	12.52	$	9.56	$	12.22	$	9.38	$	12.15
Shares outstanding in the Separate Account		46,910		68,178		608,952		297,004		177,471		182,282		71,966
(1) Investments in mutual fund shares, at cost	$	646,696	$	755,171	$	8,744,967	$	3,554,250	$	2,539,567	$	2,154,080	$	1,046,796

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

19

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Lifetime 2050 Fund		Empower Lifetime 2055 Fund		Empower Lifetime 2060 Fund		Empower Mid Cap Value Fund		Empower Moderate Profile Fund		Empower Moderately Aggressive Profile Fund		Empower Moderately Conservative Profile Fund
ASSETS:
Investments at fair value (1)	$	463,910	$	556,445	$	20	$	391,762	$	158,539	$	96,152	$	2,517,740
Due from the Policies		500		101		-		-		-		-		-
Due from the fund manager		-		-		-		-		368		59		663
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		464,410		556,545		20		391,762		158,907		96,211		2,518,403
LIABILITIES:
Due to the Policies		-		-		-		-		368		59		663
Due to the fund manager		500		101		-		-		-		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		500		101		-		-		368		59		663
NET ASSETS	$	463,910	$	556,445	$	20	$	391,762	$	158,539	$	96,152	$	2,517,740
Fair value per share (NAV)	$	9.76	$	15.20	$	9.20	$	11.32	$	5.89	$	6.28	$	7.58
Shares outstanding in the Separate Account		47,532		36,608		2		34,608		26,917		15,311		332,156
(1) Investments in mutual fund shares, at cost	$	539,671	$	653,617	$	24	$	494,739	$	184,918	$	111,400	$	2,866,381

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

20

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Multi- Sector Bond Fund		Empower Real Estate Index Fund		Empower S&P Mid Cap 400® Index Fund		Empower S&P Small Cap 600® Index Fund		Empower Short Duration Bond Fund		Empower Small Cap Growth Fund		Empower Small Cap Value Fund
ASSETS:
Investments at fair value (1)	$	235,646	$	1,550,931	$	9,109,722	$	865,638	$	3,384,043	$	19	$	1,029,525
Due from the Policies		-		607		5,373		3,170		-		-		-
Due from the fund manager		-		-		-		-		547		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		235,646		1,551,538		9,115,094		868,808		3,384,590		19		1,029,525
LIABILITIES:
Due to the Policies		-		-		-		-		547		-		-
Due to the fund manager		-		607		5,373		3,170		-		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		607		5,373		3,170		547		-		-
NET ASSETS	$	235,646	$	1,550,931	$	9,109,722	$	865,638	$	3,384,043	$	19	$	1,029,525
Fair value per share (NAV)	$	12.22	$	10.80	$	17.30	$	11.38	$	9.97	$	9.01	$	31.17
Shares outstanding in the Separate Account		19,284		143,605		526,573		76,067		339,423		2		33,029
(1) Investments in mutual fund shares, at cost	$	266,278	$	1,725,132	$	9,772,377	$	1,013,316	$	3,468,823	$	24	$	835,505

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

21

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Empower T. Rowe Price Mid Cap Growth Fund		Empower U.S. Government Securities Fund		Federated Hermes High Income Bond Fund II		Federated Hermes Kaufmann Fund II		Fidelity VIP Contrafund Portfolio		Fidelity VIP Emerging Markets Portfolio		Fidelity VIP Growth Portfolio
ASSETS:
Investments at fair value (1)	$	2,052,270	$	598,855	$	154,212	$	161,889	$	1,327,763	$	1,611,505	$	34,257
Due from the Policies		1,104		-		-		-		-		-		-
Due from the fund manager		-		-		-		-		-		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		2,053,374		598,855		154,212		161,889		1,327,763		1,611,505		34,257
LIABILITIES:
Due to the Policies		-		-		-		-		-		-		-
Due to the fund manager		1,104		-		-		-		-		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		1,104		-		-		-		-		-		-
NET ASSETS	$	2,052,270	$	598,855	$	154,212	$	161,889	$	1,327,763	$	1,611,505	$	34,257
Fair value per share (NAV)	$	30.63	$	10.71	$	5.34	$	15.10	$	36.54	$	9.86	$	69.27
Shares outstanding in the Separate Account		67,002		55,916		28,879		10,721		36,337		163,439		495
(1) Investments in mutual fund shares, at cost	$	2,139,592	$	640,734	$	183,264	$	218,274	$	1,412,102	$	2,315,306	$	44,990

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

22

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Fidelity VIP Index 500 Portfolio		Fidelity VIP Investment Grade Bond Portfolio		Fidelity VIP Mid Cap Portfolio		Goldman Sachs VIT Mid Cap Value Fund		Goldman Sachs VIT Multi-Strategy Alternatives Portfolio		Invesco Oppenheimer V.I. Main Street Small Cap Fund		Invesco V.I. Core Equity Fund
ASSETS:
Investments at fair value (1)	$	5,637,805	$	172,667	$	307,591	$	89,032	$	5,545	$	515,203	$	16,307
Due from the Policies		893		-		-		-		-		-		-
Due from the fund manager		-		-		-		-		-		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		5,638,699		172,667		307,591		89,032		5,545		515,203		16,307
LIABILITIES:
Due to the Policies		-		-		-		-		-		-		-
Due to the fund manager		893		-		-		-		-		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		893		-		-		-		-		-		-
NET ASSETS	$	5,637,805	$	172,667	$	307,591	$	89,032	$	5,545	$	515,203	$	16,307
Fair value per share (NAV)	$	374.78	$	10.47	$	31.20	$	14.89	$	8.81	$	23.08	$	24.55
Shares outstanding in the Separate Account		15,043		16,492		9,859		5,979		629		22,322		664
(1) Investments in mutual fund shares, at cost	$	6,695,280	$	208,662	$	339,207	$	90,999	$	5,645	$	644,896	$	19,967

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

23

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Invesco V.I. Global Real Estate Fund		Invesco V.I. Health Care Fund		Invesco V.I. International Growth Fund		Invesco V.I. Mid Cap Core Equity Fund		Janus Henderson VIT Balanced Portfolio		Janus Henderson VIT Enterprise Portfolio		Janus Henderson VIT Flexible Bond Portfolio
ASSETS:
Investments at fair value (1)	$	1,002,184	$	38,630	$	2,537,106	$	1	$	2,786,750	$	602,453	$	2,429,826
Due from the Policies		-		-		-		-		-		17		-
Due from the fund manager		-		-		-		-		-		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		1,002,184		38,630		2,537,106		1		2,786,750		602,470		2,429,826
LIABILITIES:
Due to the Policies		-		-		-		-		-		-		-
Due to the fund manager		-		-		-		-		-		17		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		-		-		-		-		17		-
NET ASSETS	$	1,002,184	$	38,630	$	2,537,106	$	1	$	2,786,750	$	602,453	$	2,429,826
Fair value per share (NAV)	$	13.04	$	25.15	$	28.94	$	8.55	$	40.05	$	69.58	$	9.94
Shares outstanding in the Separate Account		76,855		1,536		87,668		0		69,582		8,658		244,449
(1) Investments in mutual fund shares, at cost	$	1,177,483	$	48,865	$	3,136,170	$	1	$	2,839,520	$	768,417	$	2,856,442

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

24

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Janus Henderson VIT Forty Portfolio		Janus Henderson VIT Global Research Portfolio		Janus Henderson VIT Global Technology and Innovation Portfolio		Janus Henderson VIT Overseas Portfolio		JP Morgan Insurance Trust Small Cap Core Portfolio		JP Morgan Insurance Trust US Equity Portfolio		Lord Abbett Series Developing Growth Portfolio
ASSETS:
Investments at fair value (1)	$	1,262,028	$	123,976	$	1,698,495	$	70,883	$	20	$	20	$	125,691
Due from the Policies		-		-		-		-		-		-		-
Due from the fund manager		-		-		-		-		-		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		1,262,028		123,976		1,698,495		70,883		20		20		125,691
LIABILITIES:
Due to the Policies		-		-		-		-		-		-		-
Due to the fund manager		-		-		-		-		-		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		-		-		-		-		-		-
NET ASSETS	$	1,262,028	$	123,976	$	1,698,495	$	70,883	$	20	$	20	$	125,691
Fair value per share (NAV)	$	33.89	$	50.02	$	10.34	$	38.52	$	18.21	$	31.85	$	22.15
Shares outstanding in the Separate Account		37,239		2,479		164,264		1,840		1		1		5,675
(1) Investments in mutual fund shares, at cost	$	1,684,761	$	142,361	$	2,743,244	$	57,389	$	23	$	23	$	198,016

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

25

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Lord Abbett Series Total Return Portfolio		MFS VIT Growth Series		MFS VIT II International Growth Portfolio		MFS VIT III Blended Research Small Cap Equity Portfolio		MFS VIT III Global Real Estate Portfolio		MFS VIT III Mid Cap Value Portfolio		MFS VIT Mid Cap Growth Series
ASSETS:
Investments at fair value (1)	$	53,950	$	7,954	$	2,008,907	$	8,692	$	228,291	$	60,957	$	464,939
Due from the Policies		-		-		1,327		-		-		33		100
Due from the fund manager		296		-		-		-		-		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		54,246		7,954		2,010,234		8,692		228,291		60,991		465,039
LIABILITIES:
Due to the Policies		296		-		-		-		-		-		-
Due to the fund manager		-		-		1,327		-		-		33		100
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		296		-		1,327		-		-		33		100
NET ASSETS	$	53,950	$	7,954	$	2,008,907	$	8,692	$	228,291	$	60,957	$	464,939
Fair value per share (NAV)	$	13.95	$	48.02	$	13.35	$	8.78	$	12.78	$	9.19	$	7.16
Shares outstanding in the Separate Account		3,867		166		150,480		990		17,863		6,633		64,936
(1) Investments in mutual fund shares, at cost	$	56,394	$	10,587	$	2,349,700	$	11,395	$	291,001	$	66,104	$	572,058

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

26

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	MFS VIT Research Series		MFS VIT Total Return Bond Series		MFS VIT Value Series		Neuberger Berman AMT Mid Cap Growth Portfolio		Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio		Neuberger Berman AMT Sustainable Equity Portfolio		Pimco VIT Commodity Real Return Strategy Portfolio
ASSETS:
Investments at fair value (1)	$	35,658	$	2,748,621	$	1,228,352	$	10,885	$	1	$	75,790	$	72,703
Due from the Policies		-		-		-		-		-		-		-
Due from the fund manager		-		56		-		-		-		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		35,658		2,748,677		1,228,352		10,885		1		75,790		72,703
LIABILITIES:
Due to the Policies		-		56		-		-		-		-		-
Due to the fund manager		-		-		-		-		-		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		56		-		-		-		-		-
NET ASSETS	$	35,658	$	2,748,621	$	1,228,352	$	10,885	$	1	$	75,790	$	72,703
Fair value per share (NAV)	$	27.74	$	11.26	$	21.55	$	22.54	$	23.81	$	26.80	$	6.89
Shares outstanding in the Separate Account		1,285		244,105		57,000		483		0		2,828		10,552
(1) Investments in mutual fund shares, at cost	$	38,731	$	3,200,385	$	1,310,691	$	13,277	$	1	$	80,697	$	80,185

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

27

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Pimco VIT Global Bond Opportunities Portfolio (Unhedged)		Pimco VIT High Yield Portfolio		Pimco VIT Low Duration Portfolio		Pimco VIT Real Return Portfolio		Pimco VIT Total Return Portfolio		Pioneer Real Estate Shares VCT Portfolio		Putnam VT Equity Income Fund
ASSETS:
Investments at fair value (1)	$	1,743,324	$	978,514	$	4,423,081	$	897,635	$	7,134,378	$	139,363	$	1,558,078
Due from the Policies		-		-		-		-		-		-		-
Due from the fund manager		-		-		-		137		-		-		960
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		1,743,324		978,514		4,423,081		897,772		7,134,378		139,363		1,559,038
LIABILITIES:
Due to the Policies		-		-		-		137		-		-		960
Due to the fund manager		-		-		-		-		-		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		-		-		137		-		-		960
NET ASSETS	$	1,743,324	$	978,514	$	4,423,081	$	897,635	$	7,134,378	$	139,363	$	1,558,078
Fair value per share (NAV)	$	9.45	$	6.77	$	9.48	$	11.50	$	8.98	$	6.69	$	27.44
Shares outstanding in the Separate Account		184,479		144,537		466,570		78,055		794,474		20,831		56,781
(1) Investments in mutual fund shares, at cost	$	2,159,817	$	1,132,310	$	4,686,038	$	1,060,634	$	8,760,488	$	199,294	$	1,631,830

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

28

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Putnam VT Global Asset Allocation Fund		Putnam VT Global Equity Fund		Putnam VT Growth Opportunities Fund		Putnam VT High Yield Fund		Putnam VT Income Fund		Putnam VT International Value Fund		Putnam VT Research Fund
ASSETS:
Investments at fair value (1)	$	6,479	$	142,027	$	240,183	$	93,273	$	65,557	$	840,073	$	626,564
Due from the Policies		-		-		228		-		-		7		-
Due from the fund manager		-		-		-		-		-		-		-
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		6,479		142,027		240,412		93,273		65,557		840,080		626,564
LIABILITIES:
Due to the Policies		-		-		-		-		-		-		-
Due to the fund manager		-		-		228		-		-		7		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		-		228		-		-		7		-
NET ASSETS	$	6,479	$	142,027	$	240,183	$	93,273	$	65,557	$	840,073	$	626,564
Fair value per share (NAV)	$	15.19	$	12.25	$	9.83	$	5.29	$	8.39	$	10.19	$	27.31
Shares outstanding in the Separate Account		427		11,594		24,434		17,632		7,814		82,441		22,943
(1) Investments in mutual fund shares, at cost	$	7,009	$	226,806	$	241,577	$	106,465	$	79,174	$	877,444	$	774,538

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

29

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Putnam VT Small Cap Value Fund		Putnam VT Sustainable Future Fund		Royce Capital Fund - Small-Cap Portfolio		T. Rowe Price Blue Chip Growth Portfolio Class II		Van Eck VIP Emerging Markets Fund		Van Eck VIP Global Hard Assets Fund		Vanguard VIF Global Bond Index
ASSETS:
Investments at fair value (1)	$	5,993	$	202,276	$	67,421	$	2,032,409	$	40,703	$	1,340,057	$	729,468
Due from the Policies		-		-		-		2,875		-		-		-
Due from the fund manager		-		-		-		-		-		-		48
Receivable dividends and other		-		-		-		-		-		-		-
Total assets		5,993		202,276		67,421		2,035,284		40,703		1,340,057		729,515
LIABILITIES:
Due to the Policies		-		-		-		-		-		-		48
Due to the fund manager		-		-		-		2,875		-		-		-
Payable dividends and other		-		-		-		-		-		-		-
Total liabilities		-		-		-		2,875		-		-		48
NET ASSETS	$	5,993	$	202,276	$	67,421	$	2,032,409	$	40,703	$	1,340,057	$	729,468
Fair value per share (NAV)	$	10.82	$	11.62	$	8.18	$	29.23	$	8.70	$	28.39	$	17.83
Shares outstanding in the Separate Account		554		17,408		8,242		69,532		4,679		47,202		40,912
(1) Investments in mutual fund shares, at cost	$	5,844	$	295,335	$	69,321	$	2,633,929	$	56,975	$	1,056,061	$	857,242

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Continued)

See accompanying notes to financial statements.

30

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2022

	SUBACCOUNTS
	Vanguard VIF Total Bond Market Index		Victory RS Small Cap Growth Equity VIP
ASSETS:
Investments at fair value (1)	$	1,643,356	$	17
Due from the Policies		-		-
Due from the fund manager		-		-
Receivable dividends and other		-		-
Total assets		1,643,356		17
LIABILITIES:
Due to the Policies		-		-
Due to the fund manager		-		-
Payable dividends and other		-		-
Total liabilities		-		-
NET ASSETS	$	1,643,356	$	17
Fair value per share (NAV)	$	10.32	$	7.97
Shares outstanding in the Separate Account		159,240		2
(1) Investments in mutual fund shares, at cost	$	1,898,908	$	25

Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding.

(Concluded)

See accompanying notes to financial statements.

31

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Alger Small Cap Growth Portfolio			American Century Investments VP Capital Appreciation Fund			American Century Investments VP Inflation Protection Fund			American Century Investments VP International Fund			American Century Investments VP Mid Cap Value Fund			American Century Investments VP Ultra Fund			American Century Investments VP Value Fund
INVESTMENT INCOME:
Dividend income	$	-		$	-		$	179,799		$	629		$	36,645		$	-		$	22,928
TOTAL INVESTMENT INCOME		-			-			179,799			629			36,645			-			22,928
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		27,619			(810	)		(459	)		67			107,192			(1,865	)		184,626
Capital gain distributions		65,964			57,166			17,923			6,617			246,551			20,767			126,208
Net realized gain (loss) on investments		93,583			56,356			17,463			6,684			353,743			18,902			310,834
Change in net unrealized appreciation (depreciation) on investments		(307,956	)		(208,534	)		(694,948	)		(21,037	)		(409,163	)		(101,325	)		(301,177	)
Net realized and unrealized gain (loss) on investments		(214,374	)		(152,178	)		(677,485	)		(14,353	)		(55,420	)		(82,423	)		9,657
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(214,374	)	$	(152,178	)	$	(497,686	)	$	(13,724	)	$	(18,775	)	$	(82,423	)	$	32,585

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

32

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	American Fund IS Growth and Income Fund			American Funds IS Global Small Capitalization Fund			American Funds IS Growth Fund			American Funds IS International Fund			American Funds IS New World Fund			Blackrock 60/40 Target Allocation ETF VI Fund			Blackrock Global Allocation VI Fund
INVESTMENT INCOME:
Dividend income	$	4		$	-		$	10,309		$	28,493		$	19,079		$	-		$	-
TOTAL INVESTMENT INCOME		4			-			10,309			28,493			19,079			-			-
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		4			(666	)		100,289			(109,700	)		1,343			-			(83,752	)
Capital gain distributions		30			20,716			471,569			230,329			135,053			-			32,689
Net realized gain (loss) on investments		34			20,050			571,858			120,628			136,395			-			(51,063	)
Change in net unrealized appreciation (depreciation) on investments		(98	)		(42,704	)		(1,857,720	)		(630,074	)		(549,776	)		(2	)		(421,876	)
Net realized and unrealized gain (loss) on investments		(64	)		(22,654	)		(1,285,861	)		(509,446	)		(413,380	)		(2	)		(472,939	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(60	)	$	(22,654	)	$	(1,275,552	)	$	(480,953	)	$	(394,301	)	$	(2	)	$	(472,939	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

33

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Blackrock High Yield VI Fund			BNY Mellon Stock Index Portfolio			Clearbridge Variable Mid Cap Portfolio			Clearbridge Variable Small Cap Growth Portfolio			Columbia Variable Portfolio - Small Cap Value Fund			Davis Financial Portfolio			Davis Value Portfolio
INVESTMENT INCOME:
Dividend income	$	36,507		$	347,842		$	414		$	-		$	140		$	6,163		$	1,773
TOTAL INVESTMENT INCOME		36,507			347,842			414			-			140			6,163			1,773
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(4,717	)		1,812,291			77			(204,245	)		83,462			(7,068	)		(414	)
Capital gain distributions		-			2,215,856			7,360			8,586			7,135			11,672			31,198
Net realized gain (loss) on investments		(4,717	)		4,028,148			7,437			(195,659	)		90,597			4,604			30,784
Change in net unrealized appreciation (depreciation) on investments		(105,086	)		(9,829,538	)		(43,888	)		35,094			(107,185	)		(40,866	)		(65,054	)
Net realized and unrealized gain (loss) on investments		(109,803	)		(5,801,390	)		(36,451	)		(160,565	)		(16,588	)		(36,263	)		(34,271	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(73,296	)	$	(5,453,548	)	$	(36,037	)	$	(160,565	)	$	(16,449	)	$	(30,100	)	$	(32,498	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

34

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Delaware VIP International Series			Delaware VIP Small Cap Value Series			DFA VIT Inflation- Protected Securities			DWS Core Equity VIP			DWS High Income VIP			DWS Small Cap Index VIP			DWS Small Mid Cap Value VIP
INVESTMENT INCOME:
Dividend income	$	784		$	2,729		$	13,212		$	-		$	11,178		$	76,097		$	11,757
TOTAL INVESTMENT INCOME		784			2,729			13,212			-			11,178			76,097			11,757
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(7,425	)		58,615			(7,337	)		-			(695	)		(14,135	)		4,829
Capital gain distributions		4,336			36,381			-			1			-			1,431,430			20,225
Net realized gain (loss) on investments		(3,089	)		94,995			(7,337	)		1			(695	)		1,417,295			25,055
Change in net unrealized appreciation (depreciation) on investments		(19,741	)		(194,560	)		(15,604	)		(3	)		(30,789	)		(3,590,144	)		(282,514	)
Net realized and unrealized gain (loss) on investments		(22,830	)		(99,564	)		(22,941	)		(2	)		(31,484	)		(2,172,849	)		(257,460	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(22,046	)	$	(96,835	)	$	(9,729	)	$	(2	)	$	(20,307	)	$	(2,096,752	)	$	(245,703	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

35

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Eaton Vance Vt Floating- Rate Income Fund			Empower Aggressive Profile Fund			Empower Ariel Mid Cap Value Fund			Empower Bond Index Fund			Empower Conservative Profile Fund			Empower Core Bond Fund			Empower Emerging Markets Equity Fund
INVESTMENT INCOME:
Dividend income	$	63,310		$	9,026		$	9,293		$	39,598		$	15,971		$	6,538		$	835
TOTAL INVESTMENT INCOME		63,310			9,026			9,293			39,598			15,971			6,538			835
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(4,480	)		(35,577	)		2,662			(56,091	)		(6,936	)		(300,646	)		(41,400	)
Capital gain distributions		-			65,622			41,098			2,852			36,600			-			196
Net realized gain (loss) on investments		(4,480	)		30,045			43,761			(53,239	)		29,665			(300,646	)		(41,204	)
Change in net unrealized appreciation (depreciation) on investments		(98,605	)		(168,265	)		(79,886	)		(514,297	)		(116,988	)		(50,892	)		4,046
Net realized and unrealized gain (loss) on investments		(103,085	)		(138,220	)		(36,126	)		(567,537	)		(87,323	)		(351,538	)		(37,158	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(39,775	)	$	(129,194	)	$	(26,833	)	$	(527,938	)	$	(71,352	)	$	(344,999	)	$	(36,324	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

36

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Global Bond Fund			Empower Government Money Market Fund		Empower Inflation- Protected Securities Fund			Empower International Index Fund			Empower International Value Fund			Empower Large Cap Growth Fund			Empower Large Cap Value Fund Investor II Class Fund
INVESTMENT INCOME:
Dividend income	$	11,625		$	389,273	$	1		$	79,995		$	79,820		$	1,647		$	42,781
TOTAL INVESTMENT INCOME		11,625			389,273		1			79,995			79,820			1,647			42,781
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(41,684	)		-		(13,098	)		(25,904	)		(30,030	)		(118,628	)		54,853
Capital gain distributions		6,794			-		-			-			113,003			35,526			159,534
Net realized gain (loss) on investments		(34,890	)		-		(13,098	)		(25,904	)		82,972			(83,102	)		214,386
Change in net unrealized appreciation (depreciation) on investments		(225,017	)		-		(14,674	)		(820,026	)		(1,311,369	)		(23,442	)		(354,303	)
Net realized and unrealized gain (loss) on investments		(259,906	)		-		(27,771	)		(845,931	)		(1,228,397	)		(106,544	)		(139,916	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(248,281	)	$	389,273	$	(27,771	)	$	(765,935	)	$	(1,148,577	)	$	(104,896	)	$	(97,136	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

37

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Lifetime 2015 Fund			Empower Lifetime 2020 Fund			Empower Lifetime 2025 Fund			Empower Lifetime 2030 Fund			Empower Lifetime 2035 Fund			Empower Lifetime 2040 Fund			Empower Lifetime 2045 Fund
INVESTMENT INCOME:
Dividend income	$	11,261		$	13,503		$	128,288		$	54,269		$	32,877		$	29,828		$	12,671
TOTAL INVESTMENT INCOME		11,261			13,503			128,288			54,269			32,877			29,828			12,671
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(78,437	)		(1,085	)		4,779			(44,160	)		(7,367	)		(6,677	)		(25,476	)
Capital gain distributions		30,155			37,597			418,815			186,424			134,044			139,390			71,693
Net realized gain (loss) on investments		(48,281	)		36,512			423,594			142,264			126,677			132,713			46,218
Change in net unrealized appreciation (depreciation) on investments		(139,598	)		(143,659	)		(1,470,455	)		(645,015	)		(498,223	)		(458,888	)		(257,064	)
Net realized and unrealized gain (loss) on investments		(187,880	)		(107,147	)		(1,046,860	)		(502,751	)		(371,546	)		(326,175	)		(210,847	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(176,619	)	$	(93,644	)	$	(918,572	)	$	(448,482	)	$	(338,669	)	$	(296,347	)	$	(198,176	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

38

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Lifetime 2050 Fund			Empower Lifetime 2055 Fund			Empower Lifetime 2060 Fund			Empower Mid Cap Value Fund			Empower Moderate Profile Fund			Empower Moderately Aggressive Profile Fund			Empower Moderately Conservative Profile Fund
INVESTMENT INCOME:
Dividend income	$	7,691		$	5,381		$	-		$	2,130		$	3,370		$	1,519		$	35,788
TOTAL INVESTMENT INCOME		7,691			5,381			-			2,130			3,370			1,519			35,788
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(1,781	)		(4,353	)		-			(3,087	)		(24,782	)		(21,816	)		573
Capital gain distributions		34,374			37,336			1			7,115			10,130			7,119			114,723
Net realized gain (loss) on investments		32,593			32,983			1			4,028			(14,652	)		(14,697	)		115,296
Change in net unrealized appreciation (depreciation) on investments		(123,044	)		(114,837	)		(3	)		(51,633	)		(29,744	)		(16,063	)		(398,471	)
Net realized and unrealized gain (loss) on investments		(90,451	)		(81,855	)		(2	)		(47,605	)		(44,396	)		(30,760	)		(283,175	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(82,760	)	$	(76,473	)	$	(2	)	$	(45,475	)	$	(41,026	)	$	(29,241	)	$	(247,388	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

39

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Multi- Sector Bond Fund			Empower Real Estate Index Fund			Empower S&P Mid Cap 400® Index Fund			Empower S&P Small Cap 600® Index Fund			Empower Short Duration Bond Fund			Empower Small Cap Growth Fund			Empower Small Cap Value Fund
INVESTMENT INCOME:
Dividend income	$	5,805		$	30,379		$	40,922		$	4,467		$	57,870		$	-		$	616
TOTAL INVESTMENT INCOME		5,805			30,379			40,922			4,467			57,870			-			616
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(1,094	)		76,210			189,208			(80,074	)		(141,612	)		(1	)		21,670
Capital gain distributions		299			40,274			342,311			50,068			-			-			29,773
Net realized gain (loss) on investments		(795	)		116,484			531,519			(30,006	)		(141,612	)		-			51,443
Change in net unrealized appreciation (depreciation) on investments		(36,990	)		(709,499	)		(2,124,244	)		(132,659	)		(209,399	)		(3	)		(173,892	)
Net realized and unrealized gain (loss) on investments		(37,785	)		(593,015	)		(1,592,724	)		(162,665	)		(351,010	)		(3	)		(122,450	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(31,980	)	$	(562,635	)	$	(1,551,802	)	$	(158,198	)	$	(293,140	)	$	(3	)	$	(121,834	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

40

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Empower T. Rowe Price Mid Cap Growth Fund			Empower U.S. Government Securities Fund			Federated Hermes High Income Bond Fund II			Federated Hermes Kaufmann Fund II			Fidelity VIP Contrafund Portfolio			Fidelity VIP Emerging Markets Portfolio			Fidelity VIP Growth Portfolio
INVESTMENT INCOME:
Dividend income	$	468		$	12,149		$	8,950		$	-		$	3,871		$	25,625		$	121
TOTAL INVESTMENT INCOME		468			12,149			8,950			-			3,871			25,625			121
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		186,859			(318,595	)		(700	)		(1,005	)		46,592			(87,661	)		(330	)
Capital gain distributions		53,266			-			-			18,958			70,602			-			2,733
Net realized gain (loss) on investments		240,125			(318,595	)		(700	)		17,953			117,194			(87,661	)		2,404
Change in net unrealized appreciation (depreciation) on investments		(833,626	)		(59,623	)		(29,134	)		(81,169	)		(574,706	)		(329,694	)		(13,917	)
Net realized and unrealized gain (loss) on investments		(593,501	)		(378,217	)		(29,835	)		(63,216	)		(457,513	)		(417,355	)		(11,513	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(593,033	)	$	(366,068	)	$	(20,885	)	$	(63,216	)	$	(453,642	)	$	(391,730	)	$	(11,392	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

41

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Fidelity VIP Index 500 Portfolio			Fidelity VIP Investment Grade Bond Portfolio			Fidelity VIP Mid Cap Portfolio			Goldman Sachs VIT Mid Cap Value Fund			Goldman Sachs VIT Multi- Strategy Alternatives Portfolio			Invesco Oppenheimer V.I. Main Street Small Cap Fund			Invesco V.I. Core Equity Fund
INVESTMENT INCOME:
Dividend income	$	85,532		$	3,758		$	880		$	634		$	190		$	2,777		$	163
TOTAL INVESTMENT INCOME		85,532			3,758			880			634			190			2,777			163
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(79,215	)		(752	)		14,874			268			(48	)		(35,839	)		459
Capital gain distributions		36,907			9,805			22,387			13,632			-			60,261			2,774
Net realized gain (loss) on investments		(42,308	)		9,053			37,261			13,900			(48	)		24,422			3,233
Change in net unrealized appreciation (depreciation) on investments		(1,281,015	)		(41,289	)		(97,672	)		(24,099	)		(779	)		(126,410	)		(7,582	)
Net realized and unrealized gain (loss) on investments		(1,323,323	)		(32,236	)		(60,410	)		(10,199	)		(827	)		(101,988	)		(4,349	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(1,237,791	)	$	(28,477	)	$	(59,530	)	$	(9,565	)	$	(637	)	$	(99,210	)	$	(4,186	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

42

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Invesco V.I. Global Real Estate Fund			Invesco V.I. Health Care Fund			Invesco V.I. International Growth Fund			Invesco V.I. Mid Cap Core Equity Fund			Janus Henderson VIT Balanced Portfolio			Janus Henderson VIT Enterprise Portfolio			Janus Henderson VIT Flexible Bond Portfolio
INVESTMENT INCOME:
Dividend income	$	31,232		$	-		$	46,963		$	-		$	35,594		$	1,029		$	62,927
TOTAL INVESTMENT INCOME		31,232			-			46,963			-			35,594			1,029			62,927
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		8,378			(47	)		(16,727	)		49,264			80,110			(11,413	)		(115,155	)
Capital gain distributions		-			5,335			299,563			-			87,251			83,210			48,166
Net realized gain (loss) on investments		8,378			5,288			282,836			49,264			167,360			71,798			(66,988	)
Change in net unrealized appreciation (depreciation) on investments		(345,182	)		(11,581	)		(908,296	)		(57,192	)		(716,342	)		(181,882	)		(395,699	)
Net realized and unrealized gain (loss) on investments		(336,804	)		(6,294	)		(625,460	)		(7,928	)		(548,982	)		(110,084	)		(462,688	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(305,572	)	$	(6,294	)	$	(578,498	)	$	(7,928	)	$	(513,388	)	$	(109,055	)	$	(399,761	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

43

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Janus Henderson VIT Forty Portfolio			Janus Henderson VIT Global Research Portfolio			Janus Henderson VIT Global Technology and Innovation Portfolio			Janus Henderson VIT Overseas Portfolio			JP Morgan Insurance Trust Small Cap Core Portfolio			JP Morgan Insurance Trust Us Equity Portfolio			Lord Abbett Series Developing Growth Portfolio
INVESTMENT INCOME:
Dividend income	$	2,761		$	1,372		$	-		$	1,249		$	-		$	-		$	-
TOTAL INVESTMENT INCOME		2,761			1,372			-			1,249			-			-			-
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		240			5,453			22,072			225			(1	)		-			(8,940	)
Capital gain distributions		220,657			14,225			376,943			-			2			1			-
Net realized gain (loss) on investments		220,897			19,678			399,015			225			1			1			(8,940	)
Change in net unrealized appreciation (depreciation) on investments		(859,044	)		(51,451	)		(1,459,314	)		(8,301	)		(4	)		(4	)		(77,240	)
Net realized and unrealized gain (loss) on investments		(638,148	)		(31,772	)		(1,060,299	)		(8,076	)		(2	)		(2	)		(86,180	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(635,386	)	$	(30,400	)	$	(1,060,299	)	$	(6,827	)	$	(2	)	$	(2	)	$	(86,180	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

44

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Lord Abbett Series Total Return Portfolio			MFS VIT Growth Series			MFS VIT II International Growth Portfolio			MFS VIT III Blended Research Small Cap Equity Portfolio			MFS VIT III Global Real Estate Portfolio			MFS VIT III Mid Cap Value Portfolio			MFS VIT Mid Cap Growth Series
INVESTMENT INCOME:
Dividend income	$	1,913		$	-		$	12,274		$	90		$	3,290		$	642		$	-
TOTAL INVESTMENT INCOME		1,913			-			12,274			90			3,290			642			-
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(13,949	)		(1,792	)		(74,078	)		57			(4,859	)		(2,290	)		(240,625	)
Capital gain distributions		160			1,805			116,456			2,668			14,363			5,351			72,586
Net realized gain (loss) on investments		(13,789	)		13			42,379			2,726			9,504			3,060			(168,039	)
Change in net unrealized appreciation (depreciation) on investments		(1,933	)		(6,573	)		(409,274	)		(5,387	)		(77,982	)		(9,787	)		(98,719	)
Net realized and unrealized gain (loss) on investments		(15,722	)		(6,560	)		(366,895	)		(2,661	)		(68,478	)		(6,726	)		(266,758	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(13,809	)	$	(6,560	)	$	(354,621	)	$	(2,572	)	$	(65,188	)	$	(6,085	)	$	(266,758	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

45

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	MFS VIT Research Series			MFS VIT Total Return Bond Series			MFS VIT Value Series			Neuberger Berman AMT Mid Cap Growth Portfolio			Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio			Neuberger Berman AMT Sustainable Equity Portfolio			Pimco VIT Commodity Real Return Strategy Portfolio
INVESTMENT INCOME:
Dividend income	$	312		$	80,740		$	18,231		$	-		$	-		$	305		$	12,787
TOTAL INVESTMENT INCOME		312			80,740			18,231			-			-			305			12,787
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(1,719	)		(6,089	)		51,329			1,278			15,025			2,557			35
Capital gain distributions		8,139			34,026			77,702			2,158			-			6,475			-
Net realized gain (loss) on investments		6,420			27,938			129,031			3,435			15,025			9,032			35
Change in net unrealized appreciation (depreciation) on investments		(20,117	)		(560,981	)		(264,290	)		(7,807	)		(22,777	)		(24,185	)		(8,101	)
Net realized and unrealized gain (loss) on investments		(13,697	)		(533,043	)		(135,259	)		(4,371	)		(7,752	)		(15,153	)		(8,066	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(13,385	)	$	(452,303	)	$	(117,027	)	$	(4,371	)	$	(7,752	)	$	(14,848	)	$	4,721

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

46

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Pimco VIT Global Bond Opportunities Portfolio (Unhedged)			Pimco VIT High Yield Portfolio			Pimco VIT Low Duration Portfolio			Pimco VIT Real Return Portfolio			Pimco VIT Total Return Portfolio			Pioneer Real Estate Shares VCT Portfolio			Putnam VT Equity Income Fund
INVESTMENT INCOME:
Dividend income	$	26,979		$	49,851		$	84,657		$	70,026		$	196,243		$	4,661		$	23,646
TOTAL INVESTMENT INCOME		26,979			49,851			84,657			70,026			196,243			4,661			23,646
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(83,090	)		(1,473	)		(313,946	)		7,833			(89,675	)		(56,298	)		43,815
Capital gain distributions		26,689			-			-			-			-			16,985			118,323
Net realized gain (loss) on investments		(56,400	)		(1,473	)		(313,946	)		7,833			(89,675	)		(39,314	)		162,139
Change in net unrealized appreciation (depreciation) on investments		(195,295	)		(159,713	)		(194,923	)		(211,532	)		(1,302,357	)		(71,276	)		(215,166	)
Net realized and unrealized gain (loss) on investments		(251,695	)		(161,186	)		(508,869	)		(203,699	)		(1,392,031	)		(110,589	)		(53,028	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(224,717	)	$	(111,335	)	$	(424,212	)	$	(133,674	)	$	(1,195,789	)	$	(105,928	)	$	(29,382	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

47

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Putnam VT Global Asset Allocation Fund			Putnam VT Global Equity Fund			Putnam VT Growth Opportunities Fund			Putnam VT High Yield Fund			Putnam VT Income Fund			Putnam VT International Value Fund			Putnam VT Research Fund
INVESTMENT INCOME:
Dividend income	$	214		$	3,387		$	-		$	6,104		$	3,645		$	14,817		$	5,209
TOTAL INVESTMENT INCOME		214			3,387			-			6,104			3,645			14,817			5,209
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(465	)		(15,202	)		(174,314	)		(5,878	)		(145	)		(35,616	)		1,371
Capital gain distributions		1,218			64,880			85,457			219			-			23,256			46,186
Net realized gain (loss) on investments		754			49,678			(88,857	)		(5,659	)		(145	)		(12,360	)		47,557
Change in net unrealized appreciation (depreciation) on investments		(3,487	)		(91,771	)		(140,252	)		(15,203	)		(13,488	)		(57,737	)		(172,157	)
Net realized and unrealized gain (loss) on investments		(2,734	)		(42,093	)		(229,109	)		(20,862	)		(13,634	)		(70,097	)		(124,600	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(2,520	)	$	(38,706	)	$	(229,109	)	$	(14,758	)	$	(9,988	)	$	(55,280	)	$	(119,391	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

48

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Putnam VT Small Cap Value Fund			Putnam VT Sustainable Future Fund			Royce Capital Fund - Small-Cap Portfolio			T. Rowe Price Blue Chip Growth Portfolio Class II			Van Eck VIP Emerging Markets Fund			Van Eck VIP Global Hard Assets Fund			Vanguard VIF Global Bond Index
INVESTMENT INCOME:
Dividend income	$	18		$	-		$	52		$	-		$	118		$	21,512		$	18,357
TOTAL INVESTMENT INCOME		18			-			52			-			118			21,512			18,357
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		301			(9,896	)		(62	)		(981,992	)		(210	)		138,266			(8,394	)
Capital gain distributions		563			57,094			1,206			116,703			8,178			-			6,779
Net realized gain (loss) on investments		864			47,198			1,145			(865,288	)		7,968			138,266			(1,615	)
Change in net unrealized appreciation (depreciation) on investments		(1,536	)		(146,500	)		(8,411	)		(603,140	)		(21,438	)		(22,434	)		(123,160	)
Net realized and unrealized gain (loss) on investments		(672	)		(99,302	)		(7,266	)		(1,468,428	)		(13,470	)		115,831			(124,775	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(654	)	$	(99,302	)	$	(7,214	)	$	(1,468,428	)	$	(13,352	)	$	137,343		$	(106,419	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

49

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Vanguard VIF Total Bond Market Index			Victory RS Small Cap Growth Equity VIP
INVESTMENT INCOME:
Dividend income	$	33,452		$	-
TOTAL INVESTMENT INCOME		33,452			-
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(8,710	)		(5,881	)
Capital gain distributions		11,870			4
Net realized gain (loss) on investments		3,160			(5,876	)
Change in net unrealized appreciation (depreciation) on investments		(252,196	)		1,661
Net realized and unrealized gain (loss) on investments		(249,036	)		(4,216	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(215,584	)	$	(4,216	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Concluded)

See accompanying notes to financial statements.

50

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Alger Small Cap Growth Portfolio			American Century Investments VP Capital Appreciation Fund			American Century Investments VP Inflation Protection Fund			American Century Investments VP International Fund			American Century Investments VP Mid Cap Value Fund			American Century Investments VP Ultra Fund			American Century Investments VP Value Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	-		$	-		$	179,799		$	629		$	36,645		$	-		$	22,928
Net realized gain (loss) on investments		93,583			56,356			17,463			6,684			353,743			18,902			310,834
Change in net unrealized appreciation (depreciation) on investments		(307,956	)		(208,534	)		(694,948	)		(21,037	)		(409,163	)		(101,325	)		(301,177	)
Net increase (decrease) in net assets resulting from operations		(214,373	)		(152,178	)		(497,686	)		(13,724	)		(18,775	)		(82,423	)		32,585
POLICY TRANSACTIONS:
Proceeds from units sold		-			47,012			-			-			47,311			12			159,188
Policy maintenance charges		(4,339	)		(6,872	)		(52,948	)		(644	)		(28,044	)		(5,075	)		(15,619	)
Transfers for Policy benefits and terminations		-			-			-			-			-			-			(669,849	)
Net transfers (to) from the Company and/or Subaccounts		(241,220	)		2,059			418,015			(12,940	)		(163,458	)		13,952			(112,923	)
Increase (decrease) in net assets resulting from Policy transactions		(245,559	)		42,199			365,067			(13,584	)		(144,191	)		8,889			(639,203	)
Total increase (decrease) in net assets		(459,932	)		(109,979	)		(132,619	)		(27,308	)		(162,966	)		(73,534	)		(606,618	)
NET ASSETS:
Beginning of period		849,496			532,357			3,680,649			70,645			1,689,190			240,658			1,544,031
End of period	$	389,563		$	422,378		$	3,548,030		$	43,337		$	1,526,224		$	167,122		$	937,414
CHANGES IN UNITS OUTSTANDING:
Units issued		500			2,253			35,684			654			38,237			260			3,276
Units redeemed		(1,158	)		(312	)		(4,448	)		(1,260	)		(47,755	)		(175	)		(12,883	)
Net increase (decrease)		(657	)		1,941			31,236			(606	)		(9,519	)		85			(9,608	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

51

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	American Fund Is Growth and Income Fund			American Funds IS Global Small Capitalization Fund			American Funds IS Growth Fund			American Funds IS International Fund			American Funds IS New World Fund			Blackrock 60/40 Target Allocation ETF VI Fund			Blackrock Global Allocation VI Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	4		$	-		$	10,309		$	28,493		$	19,079		$	-		$	-
Net realized gain (loss) on investments		34			20,050			571,858			120,628			136,395			-			(51,063	)
Change in net unrealized appreciation (depreciation) on investments		(98	)		(42,704	)		(1,857,720	)		(630,074	)		(549,776	)		(2	)		(421,876	)
Net increase (decrease) in net assets resulting from operations		(60	)		(22,654	)		(1,275,553	)		(480,953	)		(394,302	)		(2	)		(472,939	)
POLICY TRANSACTIONS:
Proceeds from units sold		12			576			70,512			251,307			69,221			12			455,262
Policy maintenance charges		(36	)		(1,576	)		(40,257	)		(31,046	)		(16,405	)		(1	)		(51,087	)
Transfers for Policy benefits and terminations		-			-			(166,843	)		(698,883	)		(14,676	)		-			(369,577	)
Net transfers (to) from the Company and/or Subaccounts		-			15,545			(59,969	)		(86,202	)		8,029			-			(41,229	)
Increase (decrease) in net assets resulting from Policy transactions		(24	)		14,545			(196,557	)		(564,824	)		46,169			11			(6,631	)
Total increase (decrease) in net assets		(84	)		(8,109	)		(1,472,110	)		(1,045,777	)		(348,133	)		9			(479,570	)
NET ASSETS:
Beginning of period		374			64,480			4,368,255			2,593,358			1,722,004			12			2,982,724
End of period	$	290		$	56,372		$	2,896,145		$	1,547,581		$	1,373,871		$	20		$	2,503,155
CHANGES IN UNITS OUTSTANDING:
Units issued		1			676			12,337			17,928			5,528			1			29,168
Units redeemed		(2	)		(81	)		(16,294	)		(54,896	)		(4,264	)		-			(29,637	)
Net increase (decrease)		(2	)		595			(3,957	)		(36,967	)		1,264			1			(468	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

52

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Blackrock High Yield VI Fund			BNY Mellon Stock Index Portfolio			Clearbridge Variable Mid Cap Portfolio			Clearbridge Variable Small Cap Growth Portfolio			Columbia Variable Portfolio - Small Cap Value Fund			Davis Financial Portfolio			Davis Value Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	36,507		$	347,842		$	414		$	-		$	140		$	6,163		$	1,773
Net realized gain (loss) on investments		(4,717	)		4,028,148			7,437			(195,659	)		90,597			4,604			30,784
Change in net unrealized appreciation (depreciation) on investments		(105,086	)		(9,829,538	)		(43,888	)		35,094			(107,185	)		(40,866	)		(65,054	)
Net increase (decrease) in net assets resulting from operations		(73,296	)		(5,453,548	)		(36,037	)		(160,565	)		(16,448	)		(30,099	)		(32,497	)
POLICY TRANSACTIONS:
Proceeds from units sold		91,062			1,121,875			28,975			33,072			-			68,760			-
Policy maintenance charges		(11,811	)		(319,398	)		(1,956	)		(7,874	)		(1,952	)		(4,075	)		(2,364	)
Transfers for Policy benefits and terminations		(74,817	)		(1,572,493	)		-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		206,371			(557,791	)		(1,874	)		51,795			(145,977	)		11,379			-
Increase (decrease) in net assets resulting from Policy transactions		210,805			(1,327,807	)		25,145			76,993			(147,929	)		76,064			(2,364	)
Total increase (decrease) in net assets		137,509			(6,781,355	)		(10,892	)		(83,572	)		(164,377	)		45,965			(34,861	)
NET ASSETS:
Beginning of period		555,359			31,356,308			123,100			492,087			280,737			275,463			161,996
End of period	$	692,868		$	24,574,953		$	112,207		$	408,515		$	116,359		$	321,428		$	127,135
CHANGES IN UNITS OUTSTANDING:
Units issued		26,025			123,414			1,489			20,696			6,914			3,329			-
Units redeemed		(7,687	)		(150,524	)		(235	)		(17,945	)		(10,240	)		(1,082	)		(75	)
Net increase (decrease)		18,338			(27,110	)		1,254			2,752			(3,327	)		2,247			(75	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

53

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Delaware VIP International Series			Delaware VIP Small Cap Value Series			DFA VIT Inflation- Protected Securities			DWS Core Equity VIP			DWS Croci® U.S. VIP			DWS High Income VIP			DWS Small Cap Index VIP
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	784		$	2,729		$	13,212		$	-		$	-		$	11,178		$	76,097
Net realized gain (loss) on investments		(3,089	)		94,995			(7,337	)		1			-			(695	)		1,417,295
Change in net unrealized appreciation (depreciation) on investments		(19,741	)		(194,560	)		(15,604	)		(3	)		-			(30,789	)		(3,590,144	)
Net increase (decrease) in net assets resulting from operations		(22,046	)		(96,836	)		(9,729	)		(2	)		-			(20,306	)		(2,096,752	)
POLICY TRANSACTIONS:
Proceeds from units sold		4,927			86,853			-			12			-			16,000			212,324
Policy maintenance charges		(2,173	)		(9,619	)		(1,144	)		(1	)		-			(5,434	)		(119,688	)
Transfers for Policy benefits and terminations		(116,441	)		(172,434	)		-			-			-			-			(481,514	)
Net transfers (to) from the Company and/or Subaccounts		3,793			14,574			167,979			-			(1	)		7,646			(211,030	)
Increase (decrease) in net assets resulting from Policy transactions		(109,894	)		(80,626	)		166,835			11			(1	)		18,212			(599,908	)
Total increase (decrease) in net assets		(131,940	)		(177,462	)		157,106			9			(1	)		(2,094	)		(2,696,660	)
NET ASSETS:
Beginning of period		191,478			699,839			-			12			1			232,619			10,325,813
End of period	$	59,537		$	522,378		$	157,107		$	20		$	-		$	230,525		$	7,629,153
CHANGES IN UNITS OUTSTANDING:
Units issued		1,049			23,372			35,879			-			-			1,193			23,280
Units redeemed		(12,029	)		(28,593	)		(18,852	)		-			-			(303	)		(42,450	)
Net increase (decrease)		(10,980	)		(5,221	)		17,027			-			-			890			(19,170	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

54

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	DWS Small Mid Cap Value VIP			Eaton Vance VT Floating- Rate Income Fund			Empower Aggressive Profile Fund			Empower Ariel Mid Cap Value Fund			Empower Bond Index Fund			Empower Conservative Profile Fund			Empower Core Bond Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	11,757		$	63,310		$	9,026		$	9,293		$	39,598		$	15,971		$	6,538
Net realized gain (loss) on investments		25,055			(4,480	)		30,045			43,761			(53,239	)		29,665			(300,646	)
Change in net unrealized appreciation (depreciation) on investments		(282,514	)		(98,605	)		(168,265	)		(79,886	)		(514,297	)		(116,988	)		(50,892	)
Net increase (decrease) in net assets resulting from operations		(245,702	)		(39,775	)		(129,194	)		(26,832	)		(527,938	)		(71,352	)		(345,000	)
POLICY TRANSACTIONS:
Proceeds from units sold		8,979			235,082			16,070			12			64,524			13,276			12,270
Policy maintenance charges		(15,290	)		(26,242	)		(12,260	)		(2,759	)		(39,337	)		(32,839	)		(12,387	)
Transfers for Policy benefits and terminations		-			(191,489	)		-			-			-			(50,714	)		-
Net transfers (to) from the Company and/or Subaccounts		23,114			27			8,000			(11,149	)		163,184			488,694			(2,276,843	)
Increase (decrease) in net assets resulting from Policy transactions		16,803			17,378			11,810			(13,896	)		188,371			418,417			(2,276,960	)
Total increase (decrease) in net assets		(228,899	)		(22,397	)		(117,384	)		(40,728	)		(339,567	)		347,065			(2,621,960	)
NET ASSETS:
Beginning of period		1,563,682			1,405,000			673,336			218,996			3,792,892			787,127			2,744,464
End of period	$	1,334,783		$	1,382,602		$	555,952		$	178,267		$	3,453,324		$	1,134,192		$	122,505
CHANGES IN UNITS OUTSTANDING:
Units issued		2,339			19,257			33,233			30			75,826			47,531			158,569
Units redeemed		(1,720	)		(17,889	)		(34,288	)		(216	)		(62,903	)		(11,099	)		(314,220	)
Net increase (decrease)		619			1,368			(1,055	)		(186	)		12,923			36,432			(155,651	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

55

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Emerging Markets Equity Fund			Empower Global Bond Fund			Empower Government Money Market Fund			Empower Inflation- Protected Securities Fund			Empower International Index Fund			Empower International Value Fund			Empower Large Cap Growth Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	835		$	11,625		$	389,273		$	1		$	79,995		$	79,820		$	1,647
Net realized gain (loss) on investments		(41,204	)		(34,890	)		-			(13,098	)		(25,904	)		82,972			(83,102	)
Change in net unrealized appreciation (depreciation) on investments		4,046			(225,017	)		-			(14,674	)		(820,026	)		(1,311,369	)		(23,442	)
Net increase (decrease) in net assets resulting from operations		(36,323	)		(248,282	)		389,273			(27,771	)		(765,935	)		(1,148,577	)		(104,897	)
POLICY TRANSACTIONS:
Proceeds from units sold		37,778			68,613			1,726,878			12			343,201			62,383			118,920
Policy maintenance charges		(2,130	)		(15,823	)		(492,304	)		(3,836	)		(62,817	)		(82,524	)		(5,763	)
Transfers for Policy benefits and terminations		-			-			(954,749	)		(837,715	)		(187,752	)		-			-
Net transfers (to) from the Company and/or Subaccounts		(102,615	)		195,759			11,488,820			-			99,662			(31,729	)		78,795
Increase (decrease) in net assets resulting from Policy transactions		(66,967	)		248,549			11,768,645			(841,539	)		192,294			(51,870	)		191,952
Total increase (decrease) in net assets		(103,290	)		267			12,157,918			(869,310	)		(573,641	)		(1,200,447	)		87,055
NET ASSETS:
Beginning of period		164,099			1,385,642			20,623,292			869,330			5,104,860			7,603,476			341,087
End of period	$	60,808		$	1,385,910		$	32,781,210		$	20		$	4,531,218		$	6,403,030		$	428,143
CHANGES IN UNITS OUTSTANDING:
Units issued		7,486			32,270			2,091,215			1			50,030			32,833			10,053
Units redeemed		(14,972	)		(15,917	)		(1,221,082	)		(72,845	)		(37,001	)		(35,996	)		(7,110	)
Net increase (decrease)		(7,485	)		16,353			870,134			(72,844	)		13,029			(3,163	)		2,943

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

56

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Large Cap Value Fund Investor II Class Fund			Empower Lifetime 2015 Fund			Empower Lifetime 2020 Fund			Empower Lifetime 2025 Fund			Empower Lifetime 2030 Fund			Empower Lifetime 2035 Fund			Empower Lifetime 2040 Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	42,781		$	11,261		$	13,503		$	128,288		$	54,269		$	32,877		$	29,828
Net realized gain (loss) on investments		214,386			(48,281	)		36,512			423,594			142,264			126,677			132,713
Change in net unrealized appreciation (depreciation) on investments		(354,303	)		(139,598	)		(143,659	)		(1,470,455	)		(645,015	)		(498,223	)		(458,888	)
Net increase (decrease) in net assets resulting from operations		(97,136	)		(176,618	)		(93,644	)		(918,573	)		(448,482	)		(338,669	)		(296,347	)
POLICY TRANSACTIONS:
Proceeds from units sold		6,776			98,621			22,608			771,551			529,982			330,257			92,031
Policy maintenance charges		(28,615	)		(10,675	)		(13,896	)		(69,097	)		(32,559	)		(46,730	)		(18,617	)
Transfers for Policy benefits and terminations		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(247,254	)		(549,983	)		2,728			2,115,896			(151,928	)		149,498			207,449
Increase (decrease) in net assets resulting from Policy transactions		(269,093	)		(462,037	)		11,440			2,818,350			345,495			433,025			280,863
Total increase (decrease) in net assets		(366,229	)		(638,655	)		(82,204	)		1,899,777			(102,987	)		94,356			(15,484	)
NET ASSETS:
Beginning of period		2,804,341			1,204,392			722,392			5,724,302			2,942,342			2,074,333			1,725,292
End of period	$	2,438,111		$	565,736		$	640,187		$	7,624,081		$	2,839,355		$	2,168,690		$	1,709,807
CHANGES IN UNITS OUTSTANDING:
Units issued		5,715			54,306			1,803			245,890			44,727			35,010			20,285
Units redeemed		(25,703	)		(90,732	)		(980	)		(56,517	)		(22,625	)		(7,689	)		(3,495	)
Net increase (decrease)		(19,989	)		(36,426	)		824			189,373			22,102			27,322			16,790

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

57

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Lifetime 2045 Fund			Empower Lifetime 2050 Fund			Empower Lifetime 2055 Fund			Empower Lifetime 2060 Fund			Empower Mid Cap Value Fund			Empower Moderate Profile Fund			Empower Moderately Aggressive Profile Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	12,671		$	7,691		$	5,381		$	-		$	2,130		$	3,370		$	1,519
Net realized gain (loss) on investments		46,218			32,593			32,983			1			4,028			(14,652	)		(14,697	)
Change in net unrealized appreciation (depreciation) on investments		(257,064	)		(123,044	)		(114,837	)		(3	)		(51,633	)		(29,744	)		(16,063	)
Net increase (decrease) in net assets resulting from operations		(198,175	)		(82,760	)		(76,473	)		(2	)		(45,475	)		(41,026	)		(29,241	)
POLICY TRANSACTIONS:
Proceeds from units sold		131,696			6,532			12,467			12			98,784			12			460
Policy maintenance charges		(20,295	)		(6,221	)		(6,975	)		(1	)		(5,545	)		(3,423	)		(2,159	)
Transfers for Policy benefits and terminations		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(96,944	)		59,012			192,688			-			(867	)		110,475			96,823
Increase (decrease) in net assets resulting from Policy transactions		14,457			59,323			198,180			11			92,372			107,064			95,124
Total increase (decrease) in net assets		(183,718	)		(23,437	)		121,707			9			46,897			66,038			65,883
NET ASSETS:
Beginning of period		1,058,100			487,347			434,738			12			344,866			92,501			30,269
End of period	$	874,382		$	463,910		$	556,445		$	20		$	391,762		$	158,539		$	96,152
CHANGES IN UNITS OUTSTANDING:
Units issued		15,672			6,288			18,254			1			6,037			36,506			28,143
Units redeemed		(16,036	)		(2,600	)		(5,861	)		-			(565	)		(30,584	)		(22,972	)
Net increase (decrease)		(364	)		3,688			12,393			1			5,473			5,922			5,171

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

58

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Moderately Conservative Profile Fund			Empower Multi- Sector Bond Fund			Empower Real Estate Index Fund			Empower S&P Mid Cap 400® Index Fund			Empower S&P Small Cap 600® Index Fund			Empower Short Duration Bond Fund			Empower Small Cap Growth Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	35,788		$	5,805		$	30,379		$	40,922		$	4,467		$	57,870		$	-
Net realized gain (loss) on investments		115,296			(795	)		116,484			531,519			(30,006	)		(141,612	)		-
Change in net unrealized appreciation (depreciation) on investments		(398,471	)		(36,990	)		(709,499	)		(2,124,244	)		(132,659	)		(209,399	)		(3	)
Net increase (decrease) in net assets resulting from operations		(247,387	)		(31,980	)		(562,636	)		(1,551,803	)		(158,198	)		(293,141	)		(3	)
POLICY TRANSACTIONS:
Proceeds from units sold		615,055			12			282,158			354,614			141,738			74,771			12
Policy maintenance charges		(36,861	)		(4,339	)		(28,608	)		(115,891	)		(11,946	)		(51,159	)		(1	)
Transfers for Policy benefits and terminations		-			-			(186,472	)		-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		92,979			(8,774	)		147,270			(1,199,296	)		8,017			(2,949,502	)		-
Increase (decrease) in net assets resulting from Policy transactions		671,173			(13,101	)		214,348			(960,573	)		137,809			(2,925,890	)		11
Total increase (decrease) in net assets		423,786			(45,081	)		(348,288	)		(2,512,376	)		(20,389	)		(3,219,031	)		8
NET ASSETS:
Beginning of period		2,093,956			280,727			1,899,218			11,622,097			886,028			6,603,074			12
End of period	$	2,517,740		$	235,646		$	1,550,931		$	9,109,722		$	865,638		$	3,384,043		$	19
CHANGES IN UNITS OUTSTANDING:
Units issued		77,398			209			32,414			67,055			29,781			207,149			1
Units redeemed		(24,671	)		(524	)		(21,755	)		(106,959	)		(23,306	)		(404,556	)		-
Net increase (decrease)		52,727			(315	)		10,658			(39,904	)		6,476			(197,408	)		1

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

59

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Empower Small Cap Value Fund			Empower T. Rowe Price Mid Cap Growth Fund			Empower U.S. Government Securities Fund			Federated Hermes High Income Bond Fund II			Federated Hermes Kaufmann Fund II			Fidelity VIP Contrafund Portfolio			Fidelity VIP Emerging Markets Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	616		$	468		$	12,149		$	8,950		$	-		$	3,871		$	25,625
Net realized gain (loss) on investments		51,443			240,125			(318,595	)		(700	)		17,953			117,194			(87,661	)
Change in net unrealized appreciation (depreciation) on investments		(173,892	)		(833,626	)		(59,623	)		(29,134	)		(81,169	)		(574,706	)		(329,694	)
Net increase (decrease) in net assets resulting from operations		(121,833	)		(593,033	)		(366,069	)		(20,884	)		(63,216	)		(453,641	)		(391,730	)
POLICY TRANSACTIONS:
Proceeds from units sold		13,276			103,876			12			12			-			117,500			318,687
Policy maintenance charges		(12,055	)		(28,519	)		(21,872	)		(4,193	)		(2,454	)		(20,365	)		(31,982	)
Transfers for Policy benefits and terminations		-			-			(626,228	)		-			-			-			(259,146	)
Net transfers (to) from the Company and/or Subaccounts		(64,723	)		(289,857	)		(2,246,186	)		21,451			26,749			(81,858	)		5,529
Increase (decrease) in net assets resulting from Policy transactions		(63,502	)		(214,500	)		(2,894,274	)		17,270			24,295			15,277			33,088
Total increase (decrease) in net assets		(185,335	)		(807,533	)		(3,260,343	)		(3,614	)		(38,921	)		(438,364	)		(358,642	)
NET ASSETS:
Beginning of period		1,214,861			2,859,804			3,859,197			157,828			200,811			1,766,128			1,970,148
End of period	$	1,029,525		$	2,052,270		$	598,855		$	154,212		$	161,889		$	1,327,763		$	1,611,505
CHANGES IN UNITS OUTSTANDING:
Units issued		410			7,820			104,005			576			784			3,173			26,423
Units redeemed		(1,605	)		(10,361	)		(234,560	)		(123	)		(131	)		(2,613	)		(22,526	)
Net increase (decrease)		(1,196	)		(2,540	)		(130,554	)		453			653			561			3,898

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

60

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Fidelity VIP Growth Portfolio			Fidelity VIP Index 500 Portfolio			Fidelity VIP Investment Grade Bond Portfolio			Fidelity VIP Mid Cap Portfolio			Goldman Sachs VIT Mid Cap Value Fund			Goldman Sachs VIT Multi- Strategy Alternatives Portfolio			Invesco Oppenheimer V.I. Main Street Small Cap Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	121		$	85,532		$	3,758		$	880		$	634		$	190		$	2,777
Net realized gain (loss) on investments		2,404			(42,308	)		9,053			37,261			13,900			(48	)		24,422
Change in net unrealized appreciation (depreciation) on investments		(13,917	)		(1,281,015	)		(41,289	)		(97,672	)		(24,099	)		(779	)		(126,410	)
Net increase (decrease) in net assets resulting from operations		(11,392	)		(1,237,791	)		(28,478	)		(59,531	)		(9,565	)		(637	)		(99,211	)
POLICY TRANSACTIONS:
Proceeds from units sold		-			956,025			-			28,427			-			-			38,777
Policy maintenance charges		(1,293	)		(105,849	)		(2,595	)		(3,240	)		(1,330	)		(417	)		(12,466	)
Transfers for Policy benefits and terminations		-			(776,547	)		-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(5,816	)		813,555			(78,459	)		(63,996	)		2,302			(2,352	)		1,912
Increase (decrease) in net assets resulting from Policy transactions		(7,109	)		887,184			(81,054	)		(38,809	)		972			(2,769	)		28,223
Total increase (decrease) in net assets		(18,501	)		(350,607	)		(109,532	)		(98,340	)		(8,593	)		(3,406	)		(70,988	)
NET ASSETS:
Beginning of period		52,758			5,988,413			282,198			405,930			97,626			8,951			586,190
End of period	$	34,257		$	5,637,805		$	172,667		$	307,591		$	89,032		$	5,545		$	515,203
CHANGES IN UNITS OUTSTANDING:
Units issued		72			182,458			299			975			107			-			9,680
Units redeemed		(206	)		(103,556	)		(3,564	)		(1,492	)		(57	)		(248	)		(8,446	)
Net increase (decrease)		(133	)		78,902			(3,265	)		(517	)		50			(248	)		1,234

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

61

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Invesco V.I. Core Equity Fund			Invesco V.I. Global Real Estate Fund			Invesco V.I. Health Care Fund			Invesco V.I. International Growth Fund			Invesco V.I. Mid Cap Core Equity Fund			Janus Henderson VIT Balanced Portfolio			Janus Henderson VIT Enterprise Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	163		$	31,232		$	-		$	46,963		$	-		$	35,594		$	1,029
Net realized gain (loss) on investments		3,233			8,378			5,288			282,836			49,264			167,360			71,798
Change in net unrealized appreciation (depreciation) on investments		(7,582	)		(345,182	)		(11,581	)		(908,296	)		(57,192	)		(716,342	)		(181,882	)
Net increase (decrease) in net assets resulting from operations		(4,186	)		(305,572	)		(6,293	)		(578,497	)		(7,928	)		(513,388	)		(109,055	)
POLICY TRANSACTIONS:
Proceeds from units sold		-			12			-			12			-			228,544			5,449
Policy maintenance charges		(240	)		(11,351	)		(521	)		(31,647	)		(464	)		(40,204	)		(11,674	)
Transfers for Policy benefits and terminations		-			(122,277	)		-			-			-			(36,438	)		-
Net transfers (to) from the Company and/or Subaccounts		(5,632	)		77,397			(1,083	)		(53,863	)		(506,154	)		66,463			(7,510	)
Increase (decrease) in net assets resulting from Policy transactions		(5,872	)		(56,219	)		(1,604	)		(85,498	)		(506,618	)		218,365			(13,735	)
Total increase (decrease) in net assets		(10,058	)		(361,791	)		(7,897	)		(663,995	)		(514,546	)		(295,023	)		(122,790	)
NET ASSETS:
Beginning of period		26,365			1,363,976			46,528			3,201,102			514,547			3,081,773			725,242
End of period	$	16,307		$	1,002,184		$	38,630		$	2,537,106		$	1		$	2,786,750		$	602,453
CHANGES IN UNITS OUTSTANDING:
Units issued		51			3,376			-			12,273			-			18,738			7,454
Units redeemed		(197	)		(3,952	)		(38	)		(16,310	)		(13,540	)		(13,782	)		(7,843	)
Net increase (decrease)		(146	)		(577	)		(38	)		(4,037	)		(13,540	)		4,956			(389	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

62

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Janus Henderson VIT Flexible Bond Portfolio			Janus Henderson VIT Forty Portfolio			Janus Henderson VIT Global Research Portfolio			Janus Henderson VIT Global Technology and Innovation Portfolio			Janus Henderson VIT Overseas Portfolio			JP Morgan Insurance Trust Small Cap Core Portfolio			JP Morgan Insurance Trust U.S. Equity Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	62,927		$	2,761		$	1,372		$	-		$	1,249		$	-		$	-
Net realized gain (loss) on investments		(66,988	)		220,897			19,678			399,015			225			1			1
Change in net unrealized appreciation (depreciation) on investments		(395,699	)		(859,044	)		(51,451	)		(1,459,314	)		(8,301	)		(4	)		(4	)
Net increase (decrease) in net assets resulting from operations		(399,760	)		(635,386	)		(30,401	)		(1,060,299	)		(6,827	)		(3	)		(3	)
POLICY TRANSACTIONS:
Proceeds from units sold		12			100,169			-			284,772			-			12			12
Policy maintenance charges		(44,506	)		(18,962	)		(1,789	)		(27,603	)		(1,220	)		(1	)		(2	)
Transfers for Policy benefits and terminations		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(62,040	)		(6,448	)		(14,888	)		(487,489	)		-			11			-
Increase (decrease) in net assets resulting from Policy transactions		(106,534	)		74,759			(16,677	)		(230,320	)		(1,220	)		22			10
Total increase (decrease) in net assets		(506,294	)		(560,627	)		(47,078	)		(1,290,619	)		(8,047	)		19			7
NET ASSETS:
Beginning of period		2,936,120			1,822,656			171,054			2,989,113			78,929			1			12
End of period	$	2,429,826		$	1,262,028		$	123,976		$	1,698,495		$	70,883		$	20		$	20
CHANGES IN UNITS OUTSTANDING:
Units issued		32,970			1,983			238			5,994			-			1			1
Units redeemed		(36,829	)		(1,267	)		(966	)		(8,701	)		(33	)		-			-
Net increase (decrease)		(3,858	)		716			(728	)		(2,707	)		(33	)		1			1

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

63

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Lord Abbett Series Developing Growth Portfolio			Lord Abbett Series Total Return Portfolio			MFS VIT Growth Series			MFS VIT II International Growth Portfolio			MFS VIT III Blended Research Small Cap Equity Portfolio			MFS VIT III Global Real Estate Portfolio			MFS VIT III Mid Cap Value Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	-		$	1,913		$	-		$	12,274		$	90		$	3,290		$	642
Net realized gain (loss) on investments		(8,940	)		(13,789	)		13			42,379			2,726			9,504			3,060
Change in net unrealized appreciation (depreciation) on investments		(77,240	)		(1,933	)		(6,573	)		(409,274	)		(5,387	)		(77,982	)		(9,787	)
Net increase (decrease) in net assets resulting from operations		(86,180	)		(13,809	)		(6,560	)		(354,621	)		(2,571	)		(65,188	)		(6,085	)
POLICY TRANSACTIONS:
Proceeds from units sold		-			1,850			12			299,469			12			60,409			2,274
Policy maintenance charges		(2,433	)		(1,416	)		(769	)		(34,418	)		(606	)		(3,567	)		(1,505	)
Transfers for Policy benefits and terminations		-			-			-			(184,473	)		-			-			-
Net transfers (to) from the Company and/or Subaccounts		(27,494	)		46,883			(5,816	)		(22,388	)		(2,215	)		4,611			12,454
Increase (decrease) in net assets resulting from Policy transactions		(29,927	)		47,317			(6,573	)		58,190			(2,809	)		61,453			13,223
Total increase (decrease) in net assets		(116,107	)		33,508			(13,133	)		(296,431	)		(5,380	)		(3,735	)		7,138
NET ASSETS:
Beginning of period		241,797			20,443			21,087			2,305,339			14,073			232,026			53,819
End of period	$	125,691		$	53,950		$	7,954		$	2,008,907		$	8,692		$	228,291		$	60,957
CHANGES IN UNITS OUTSTANDING:
Units issued		-			32,476			1			56,904			1			5,730			3,225
Units redeemed		(1,766	)		(28,872	)		(434	)		(52,738	)		(195	)		(1,159	)		(2,475	)
Net increase (decrease)		(1,766	)		3,604			(434	)		4,166			(194	)		4,571			750

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

64

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	MFS VIT Mid Cap Growth Series			MFS VIT Research Series			MFS VIT Total Return Bond Series			MFS VIT Value Series			Neuberger Berman AMT Mid Cap Growth Portfolio			Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio			Neuberger Berman AMT Sustainable Equity Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	-		$	312		$	80,740		$	18,231		$	-		$	-		$	305
Net realized gain (loss) on investments		(168,039	)		6,420			27,938			129,031			3,435			15,025			9,032
Change in net unrealized appreciation (depreciation) on investments		(98,719	)		(20,117	)		(560,981	)		(264,290	)		(7,807	)		(22,777	)		(24,185	)
Net increase (decrease) in net assets resulting from operations		(266,758	)		(13,385	)		(452,303	)		(117,028	)		(4,372	)		(7,752	)		(14,848	)
POLICY TRANSACTIONS:
Proceeds from units sold		216,857			12			513			79,222			-			-			12
Policy maintenance charges		(10,275	)		(3,131	)		(65,015	)		(17,805	)		(159	)		(297	)		(1,604	)
Transfers for Policy benefits and terminations		-			-			-			-			-			(70,158	)		-
Net transfers (to) from the Company and/or Subaccounts		(428,950	)		(23,830	)		(157	)		(263,947	)		(2,248	)		-			4,179
Increase (decrease) in net assets resulting from Policy transactions		(222,368	)		(26,949	)		(64,659	)		(202,530	)		(2,407	)		(70,455	)		2,587
Total increase (decrease) in net assets		(489,126	)		(40,334	)		(516,962	)		(319,558	)		(6,779	)		(78,207	)		(12,261	)
NET ASSETS:
Beginning of period		954,065			75,992			3,265,583			1,547,909			17,663			78,208			88,051
End of period	$	464,939		$	35,658		$	2,748,621		$	1,228,352		$	10,885		$	1		$	75,790
CHANGES IN UNITS OUTSTANDING:
Units issued		14,801			1			589			24,610			58			-			263
Units redeemed		(26,772	)		(1,360	)		(6,577	)		(36,857	)		(109	)		(2,343	)		(180	)
Net increase (decrease)		(11,971	)		(1,359	)		(5,988	)		(12,246	)		(50	)		(2,343	)		84

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

65

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Pimco VIT Commodity Real Return Strategy Portfolio			Pimco VIT Global Bond Opportunities Portfolio (Unhedged)			Pimco VIT High Yield Portfolio			Pimco VIT Low Duration Portfolio			Pimco VIT Real Return Portfolio			Pimco VIT Total Return Portfolio			Pioneer Real Estate Shares VCT Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	12,787		$	26,979		$	49,851		$	84,657		$	70,026		$	196,243		$	4,661
Net realized gain (loss) on investments		35			(56,400	)		(1,473	)		(313,946	)		7,833			(89,675	)		(39,314	)
Change in net unrealized appreciation (depreciation) on investments		(8,101	)		(195,295	)		(159,713	)		(194,923	)		(211,532	)		(1,302,357	)		(71,276	)
Net increase (decrease) in net assets resulting from operations		4,721			(224,716	)		(111,335	)		(424,212	)		(133,673	)		(1,195,789	)		(105,929	)
POLICY TRANSACTIONS:
Proceeds from units sold		15,320			318,687			177,999			91,062			92,009			656,098			36,442
Policy maintenance charges		(984	)		(34,837	)		(16,126	)		(101,614	)		(15,567	)		(139,761	)		(5,561	)
Transfers for Policy benefits and terminations		-			(451,680	)		(74,710	)		(75,993	)		(74,753	)		(496,453	)		-
Net transfers (to) from the Company and/or Subaccounts		2,328			(379	)		(110,864	)		(3,633,707	)		(194,853	)		(36,501	)		(90,375	)
Increase (decrease) in net assets resulting from Policy transactions		16,664			(168,209	)		(23,701	)		(3,720,252	)		(193,164	)		(16,617	)		(59,494	)
Total increase (decrease) in net assets		21,385			(392,925	)		(135,036	)		(4,144,464	)		(326,837	)		(1,212,406	)		(165,423	)
NET ASSETS:
Beginning of period		51,319			2,136,250			1,113,550			8,567,545			1,224,473			8,346,784			304,785
End of period	$	72,703		$	1,743,324		$	978,514		$	4,423,081		$	897,635		$	7,134,378		$	139,363
CHANGES IN UNITS OUTSTANDING:
Units issued		1,202			29,625			6,699			155,477			8,190			39,245			2,500
Units redeemed		(62	)		(45,375	)		(7,475	)		(396,070	)		(17,503	)		(40,213	)		(8,698	)
Net increase (decrease)		1,140			(15,749	)		(776	)		(240,593	)		(9,313	)		(968	)		(6,198	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

66

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Putnam VT Equity Income Fund			Putnam VT Global Asset Allocation Fund			Putnam VT Global Equity Fund			Putnam VT Growth Opportunities Fund			Putnam VT High Yield Fund			Putnam VT Income Fund			Putnam VT International Value Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	23,646		$	214		$	3,387		$	-		$	6,104		$	3,645		$	14,817
Net realized gain (loss) on investments		162,139			754			49,678			(88,857	)		(5,659	)		(145	)		(12,360	)
Change in net unrealized appreciation (depreciation) on investments		(215,166	)		(3,487	)		(91,771	)		(140,252	)		(15,203	)		(13,488	)		(57,737	)
Net increase (decrease) in net assets resulting from operations		(29,381	)		(2,519	)		(38,706	)		(229,109	)		(14,758	)		(9,988	)		(55,280	)
POLICY TRANSACTIONS:
Proceeds from units sold		109,445			12			12			6,678			5,391			5,656			15,847
Policy maintenance charges		(19,540	)		(633	)		(4,578	)		(7,564	)		(1,058	)		(696	)		(8,282	)
Transfers for Policy benefits and terminations		(45,821	)		-			-			-			(27,622	)		-			-
Net transfers (to) from the Company and/or Subaccounts		443,461			(5,565	)		(12,982	)		(545,582	)		(3,081	)		4,544			292,656
Increase (decrease) in net assets resulting from Policy transactions		487,545			(6,186	)		(17,548	)		(546,468	)		(26,370	)		9,504			300,221
Total increase (decrease) in net assets		458,164			(8,705	)		(56,254	)		(775,577	)		(41,128	)		(484	)		244,941
NET ASSETS:
Beginning of period		1,099,915			15,185			198,282			1,015,760			134,401			66,042			595,131
End of period	$	1,558,078		$	6,479		$	142,027		$	240,183		$	93,273		$	65,557		$	840,073
CHANGES IN UNITS OUTSTANDING:
Units issued		21,127			1			891			11,871			568			921			44,420
Units redeemed		(12,461	)		(447	)		(2,403	)		(32,227	)		(1,586	)		(87	)		(24,372	)
Net increase (decrease)		8,666			(446	)		(1,513	)		(20,356	)		(1,019	)		835			20,048

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

67

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Putnam VT Research Fund			Putnam VT Small Cap Value Fund			Putnam VT Sustainable Future Fund			Royce Capital Fund - Small-Cap Portfolio			T. Rowe Price Blue Chip Growth Portfolio Class II			Van Eck VIP Emerging Markets Fund			Van Eck VIP Global Hard Assets Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	5,209		$	18		$	-		$	52		$	-		$	118		$	21,512
Net realized gain (loss) on investments		47,557			864			47,198			1,145			(865,288	)		7,968			138,266
Change in net unrealized appreciation (depreciation) on investments		(172,157	)		(1,536	)		(146,500	)		(8,411	)		(603,140	)		(21,438	)		(22,434	)
Net increase (decrease) in net assets resulting from operations		(119,391	)		(654	)		(99,302	)		(7,214	)		(1,468,428	)		(13,352	)		137,344
POLICY TRANSACTIONS:
Proceeds from units sold		12			12			23,679			-			247,514			-			124,566
Policy maintenance charges		(16,715	)		(84	)		(1,879	)		(1,607	)		(42,190	)		(766	)		(16,453	)
Transfers for Policy benefits and terminations		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		105,066			1,977			(5,551	)		-			(480,369	)		-			(286,512	)
Increase (decrease) in net assets resulting from Policy transactions		88,363			1,905			16,249			(1,607	)		(275,045	)		(766	)		(178,399	)
Total increase (decrease) in net assets		(31,028	)		1,251			(83,053	)		(8,821	)		(1,743,473	)		(14,118	)		(41,055	)
NET ASSETS:
Beginning of period		657,592			4,741			285,328			76,242			3,775,881			54,822			1,381,113
End of period	$	626,564		$	5,993		$	202,276		$	67,421		$	2,032,409		$	40,703		$	1,340,057
CHANGES IN UNITS OUTSTANDING:
Units issued		6,203			195			1,195			-			92,747			-			2,211
Units redeemed		(2,245	)		(83	)		(911	)		(71	)		(108,472	)		(18	)		(4,487	)
Net increase (decrease)		3,958			113			284			(71	)		(15,725	)		(18	)		(2,276	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

68

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	SUBACCOUNTS
	Vanguard VIF Global Bond Index			Vanguard VIF Total Bond Market Index			Victory RS Small Cap Growth Equity VIP
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	18,357		$	33,452		$	-
Net realized gain (loss) on investments		(1,615	)		3,160			(5,876	)
Change in net unrealized appreciation (depreciation) on investments		(123,160	)		(252,196	)		1,661
Net increase (decrease) in net assets resulting from operations		(106,418	)		(215,584	)		(4,215	)
POLICY TRANSACTIONS:
Proceeds from units sold		136,575			136,575			12
Policy maintenance charges		(14,606	)		(24,278	)		(380	)
Transfers for Policy benefits and terminations		(110,787	)		(110,715	)		-
Net transfers (to) from the Company and/or Subaccounts		5,765			1,037,161			(7,719	)
Increase (decrease) in net assets resulting from Policy transactions		16,947			1,038,743			(8,087	)
Total increase (decrease) in net assets		(89,471	)		823,159			(12,302	)
NET ASSETS:
Beginning of period		818,939			820,197			12,320
End of period	$	729,468		$	1,643,356		$	17
CHANGES IN UNITS OUTSTANDING:
Units issued		15,597			120,437			1
Units redeemed		(13,535	)		(14,067	)		(824	)
Net increase (decrease)		2,062			106,370			(823	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Concluded)

See accompanying notes to financial statements.

69

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Alger Small Cap Growth Portfolio			American Century Investments VP Capital Appreciation Fund			American Century Investments VP Inflation Protection Fund			American Century Investments VP International Fund			American Century Investments VP Mid Cap Value Fund			American Century Investments VP Ultra Fund			American Century Investments VP Value Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	-		$	-		$	116,899		$	110		$	20,811		$	-		$	25,565
Net realized gain (loss) on investments		265,945			62,147			42,961			2,576			235,845			4,949			29,706
Change in net unrealized appreciation (depreciation) on investments		(317,132	)		(8,264	)		69,599			3,118			113,571			8,197			254,088
Net increase (decrease) in net assets resulting from operations		(51,187	)		53,883			229,460			5,804			370,227			13,146			309,360
POLICY TRANSACTIONS:
Proceeds from units sold		-			12			-			-			2,439			12			111,008
Policy maintenance charges		(8,637	)		(7,102	)		(50,587	)		(1,135	)		(26,775	)		(2,249	)		(17,885	)
Transfers for Policy benefits and terminations		-			-			(461,747	)		-			-			-			(25,852	)
Net transfers (to) from the Company and/or Subaccounts		172,464			-			439,919			(1,345	)		(297,492	)		229,749			(67,034	)
Increase (decrease) in net assets resulting from Policy transactions		163,828			(7,090	)		(72,415	)		(2,480	)		(321,828	)		227,512			236
Total increase (decrease) in net assets		112,640			46,793			157,045			3,325			48,399			240,658			309,596
NET ASSETS:
Beginning of period		736,855			485,564			3,523,604			67,321			1,640,791			-			1,234,435
End of period	$	849,496		$	532,357		$	3,680,649		$	70,645		$	1,689,190		$	240,658		$	1,544,031
CHANGES IN UNITS OUTSTANDING:
Units issued		513			1			35,262			87			46,628			3,284			2,922
Units redeemed		(46	)		(260	)		(40,232	)		(206	)		(68,512	)		(127	)		(2,811	)
Net increase (decrease)		468			(259	)		(4,970	)		(119	)		(21,884	)		3,157			111

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 70

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	American Fund Is Growth and Income Fund			American Funds IS Global Small Capitalization Fund			American Funds IS Growth Fund			American Funds IS International Fund			American Funds IS New World Fund			Blackrock 60/40 Target Allocation ETF VI Fund			Blackrock Global Allocation VI Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	4		$	-		$	9,517		$	65,926		$	15,535		$	-		$	26,378
Net realized gain (loss) on investments		13			52,136			1,209,882			41,078			493,210			-			416,200
Change in net unrealized appreciation (depreciation) on investments		58			(47,816	)		(268,677	)		(161,358	)		(380,396	)		-			(293,183	)
Net increase (decrease) in net assets resulting from operations		75			4,320			950,722			(54,354	)		128,349			-			149,395
POLICY TRANSACTIONS:
Proceeds from units sold		12			12			22,405			1,370,554			76,929			12			2,451,110
Policy maintenance charges		(41	)		(1,629	)		(55,382	)		(27,087	)		(23,835	)		-			(31,733	)
Transfers for Policy benefits and terminations		-			-			(480,559	)		(1,665	)		(501,495	)		-			(1	)
Net transfers (to) from the Company and/or Subaccounts		-			(138,943	)		(690,673	)		174,300			(107,713	)		-			255,885
Increase (decrease) in net assets resulting from Policy transactions		(30	)		(140,560	)		(1,204,209	)		1,516,103			(556,113	)		12			2,675,261
Total increase (decrease) in net assets		45			(136,240	)		(253,487	)		1,461,749			(427,765	)		12			2,824,655
NET ASSETS:
Beginning of period		329			200,720			4,621,742			1,131,609			2,149,769			-			158,069
End of period	$	374		$	64,480		$	4,368,255		$	2,593,358		$	1,722,004		$	12		$	2,982,724
CHANGES IN UNITS OUTSTANDING:
Units issued		1			2,352			6,915			97,972			23,959			2			177,001
Units redeemed		(3	)		(8,089	)		(28,327	)		(12,522	)		(40,196	)		(1	)		(7,681	)
Net increase (decrease)		(2	)		(5,737	)		(21,412	)		85,450			(16,237	)		1			169,320

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 71

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Blackrock High Yield VI Fund			BNY Mellon Stock Index Portfolio			Clearbridge Variable Mid Cap Portfolio			Clearbridge Variable Small Cap Growth Portfolio			Columbia Variable Portfolio - Small Cap Value Fund			Davis Financial Portfolio			Davis Value Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	23,262		$	385,490		$	31		$	-		$	1,918		$	3,775		$	974
Net realized gain (loss) on investments		1,629			5,759,383			35,229			170,175			12,333			29,933			26,908
Change in net unrealized appreciation (depreciation) on investments		2,704			2,390,704			1,163			(129,498	)		52,535			(16,542	)		(3,033	)
Net increase (decrease) in net assets resulting from operations		27,595			8,535,577			36,424			40,677			66,787			17,165			24,848
POLICY TRANSACTIONS:
Proceeds from units sold		490,307			6,279,956			12			55,984			-			68,720			-
Policy maintenance charges		(5,693	)		(420,754	)		(2,403	)		(7,356	)		(3,753	)		(1,506	)		(2,139	)
Transfers for Policy benefits and terminations		-			(1,920,858	)		(21,865	)		-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		13,462			(6,365,328	)		(44,527	)		(85,940	)		(14,677	)		154,164			-
Increase (decrease) in net assets resulting from Policy transactions		498,076			(2,426,984	)		(68,784	)		(37,312	)		(18,430	)		221,377			(2,139	)
Total increase (decrease) in net assets		525,670			6,108,594			(32,360	)		3,365			48,358			238,543			22,709
NET ASSETS:
Beginning of period		29,689			25,247,715			155,460			488,722			232,379			36,920			139,287
End of period	$	555,360		$	31,356,308		$	123,100		$	492,087		$	280,737		$	275,463		$	161,996
CHANGES IN UNITS OUTSTANDING:
Units issued		44,983			232,114			496			14,007			407			8,630			-
Units redeemed		(780	)		(254,835	)		(4,053	)		(15,961	)		(829	)		(1,906	)		(57	)
Net increase (decrease)		44,203			(22,721	)		(3,557	)		(1,954	)		(422	)		6,724			(57	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 72

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Delaware VIP International Series			Delaware VIP Small Cap Value Series			DWS Core Equity VIP		DWS Croci® U.S. VIP			DWS High Income VIP			DWS Small Cap Index VIP			DWS Small Mid Cap Value VIP
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	1,794		$	2,977		$	-	$	-		$	5,212		$	91,273		$	18,278
Net realized gain (loss) on investments		5,904			66,423			-		(11,209	)		5,752			870,801			13,569
Change in net unrealized appreciation (depreciation) on investments		5,242			70,773			-		11,098			(4,932	)		357,012			354,839
Net increase (decrease) in net assets resulting from operations		12,941			140,173			-		(111	)		6,031			1,319,086			386,686
POLICY TRANSACTIONS:
Proceeds from units sold		25,999			126,509			12		-			3,261			1,089,439			9,416
Policy maintenance charges		(2,845	)		(6,904	)		-		(145	)		(2,983	)		(135,345	)		(15,576	)
Transfers for Policy benefits and terminations		-			-			-		-			(58,958	)		(310,906	)		-
Net transfers (to) from the Company and/or Subaccounts		(27,709	)		71,026			-		(142,375	)		117,427			(230,180	)		(138,468	)
Increase (decrease) in net assets resulting from Policy transactions		(4,555	)		190,632			12		(142,520	)		58,747			413,008			(144,628	)
Total increase (decrease) in net assets		8,385			330,805			12		(142,631	)		64,778			1,732,094			242,058
NET ASSETS:
Beginning of period		183,092			369,034			-		142,631			167,841			8,593,718			1,321,624
End of period	$	191,478		$	699,839		$	12	$	-		$	232,619		$	10,325,813		$	1,563,682
CHANGES IN UNITS OUTSTANDING:
Units issued		3,398			24,799			1		-			11,498			52,300			1,038
Units redeemed		(3,783	)		(14,475	)		-		(8,459	)		(8,962	)		(39,237	)		(5,643	)
Net increase (decrease)		(385	)		10,323			1		(8,459	)		2,536			13,062			(4,605	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 73

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Eaton Vance VT Floating-Rate Income Fund			Federated Hermes High Income Bond Fund II			Federated Hermes Kaufmann Fund II			Fidelity VIP Contrafund Portfolio			Fidelity VIP Emerging Markets Portfolio			Fidelity VIP Growth Portfolio			Fidelity VIP Index 500 Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	36,899		$	1,405		$	-		$	418		$	37,049		$	-		$	-
Net realized gain (loss) on investments		419			(123	)		49,108			462,978			207,067			12,394			361
Change in net unrealized appreciation (depreciation) on investments		332			83			(36,791	)		(63,154	)		(374,177	)		(1,749	)		223,541
Net increase (decrease) in net assets resulting from operations		37,650			1,364			12,318			400,241			(130,061	)		10,646			223,902
POLICY TRANSACTIONS:
Proceeds from units sold		1,233,269			12			-			2,820			1,716,029			-			-
Policy maintenance charges		(14,228	)		(928	)		(3,685	)		(21,562	)		(19,782	)		(1,531	)		(8,749	)
Transfers for Policy benefits and terminations		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		74,180			157,379			(69,776	)		(564,125	)		300,117			(4,719	)		5,773,260
Increase (decrease) in net assets resulting from Policy transactions		1,293,221			156,463			(73,462	)		(582,866	)		1,996,364			(6,249	)		5,764,511
Total increase (decrease) in net assets		1,330,871			157,828			(61,144	)		(182,625	)		1,866,303			4,396			5,988,413
NET ASSETS:
Beginning of period		74,129			-			261,955			1,948,753			103,846			48,362			-
End of period	$	1,405,000		$	157,828		$	200,811		$	1,766,128		$	1,970,149		$	52,758		$	5,988,413
CHANGES IN UNITS OUTSTANDING:
Units issued		112,633			4,297			962			3,620			138,365			-			522,960
Units redeemed		(4,818	)		(86	)		(2,400	)		(13,680	)		(2,480	)		(122	)		(760	)
Net increase (decrease)		107,816			4,211			(1,438	)		(10,059	)		135,885			(122	)		522,200

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 74

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Fidelity VIP Investment Grade Bond Portfolio			Fidelity VIP Mid Cap Portfolio			Goldman Sachs VIT Mid Cap Value Fund			Goldman Sachs VIT Multi-Strategy Alternatives Portfolio			Great-West Aggressive Profile Fund			Great-West Ariel Mid Cap Value Fund			Great-West Bond Index Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	5,028		$	1,365		$	425		$	133		$	36,163		$	8,376		$	36,680
Net realized gain (loss) on investments		17,484			113,849			13,131			26			114,462			66,618			87,849
Change in net unrealized appreciation (depreciation) on investments		(25,902	)		(36,465	)		9,315			267			(44,529	)		19,106			(226,024	)
Net increase (decrease) in net assets resulting from operations		(3,389	)		78,750			22,872			426			106,095			94,101			(101,495	)
POLICY TRANSACTIONS:
Proceeds from units sold		-			32,489			-			-			15,980			12			812,956
Policy maintenance charges		(4,646	)		(3,773	)		(1,172	)		(389	)		(10,620	)		(5,185	)		(56,498	)
Transfers for Policy benefits and terminations		-			-			-			-			-			-			(95,894	)
Net transfers (to) from the Company and/or Subaccounts		(103,761	)		(220,678	)		369			-			(55,875	)		(214,830	)		(637,951	)
Increase (decrease) in net assets resulting from Policy transactions		(108,407	)		(191,962	)		(803	)		(389	)		(50,515	)		(220,003	)		22,613
Total increase (decrease) in net assets		(111,796	)		(113,212	)		22,069			37			55,580			(125,902	)		(78,882	)
NET ASSETS:
Beginning of period		393,994			519,142			75,557			8,914			617,757			344,899			3,871,774
End of period	$	282,198		$	405,930		$	97,626		$	8,951		$	673,336		$	218,996		$	3,792,892
CHANGES IN UNITS OUTSTANDING:
Units issued		970			601			84			-			25,513			558			79,164
Units redeemed		(5,216	)		(3,463	)		(136	)		(32	)		(29,314	)		(3,380	)		(78,320	)
Net increase (decrease)		(4,246	)		(2,863	)		(51	)		(32	)		(3,801	)		(2,822	)		844

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 75

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Great-West Conservative Profile Fund			Great-West Core Bond Fund			Great-West Emerging Markets Equity Fund			Great-West Global Bond Fund			Great-West Government Money Market Fund			Great-West Inflation- Protected Securities Fund			Great-West International Index Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	20,768		$	21,442		$	2,198		$	1,364		$	2,261		$	21,120		$	108,705
Net realized gain (loss) on investments		47,874			52,564			7,328			(4,439	)		-			4,987			199,380
Change in net unrealized appreciation (depreciation) on investments		(9,185	)		(116,850	)		(15,577	)		(101,593	)		-			13,409			162,943
Net increase (decrease) in net assets resulting from operations		59,457			(42,845	)		(6,051	)		(104,667	)		2,261			39,516			471,027
POLICY TRANSACTIONS:
Proceeds from units sold		397			35,230			73,221			19,731			5,534,087			177,005			1,260,481
Policy maintenance charges		(29,700	)		(35,145	)		(1,875	)		(19,319	)		(381,521	)		(7,394	)		(61,086	)
Transfers for Policy benefits and terminations		-			-			-			(875,501	)		(4,202,725	)		-			(5,748	)
Net transfers (to) from the Company and/or Subaccounts		(338,733	)		11,288			2,487			669,228			(3,905,537	)		159			173,286
Increase (decrease) in net assets resulting from Policy transactions		(368,037	)		11,373			73,833			(205,861	)		(2,955,696	)		169,770			1,366,933
Total increase (decrease) in net assets		(308,580	)		(31,472	)		67,782			(310,528	)		(2,953,435	)		209,287			1,837,960
NET ASSETS:
Beginning of period		1,095,707			2,775,936			96,317			1,696,170			23,576,727			660,044			3,266,900
End of period	$	787,127		$	2,744,464		$	164,099		$	1,385,642		$	20,623,293		$	869,330		$	5,104,860
CHANGES IN UNITS OUTSTANDING:
Units issued		1,952			5,468			8,169			61,456			846,923			15,528			106,380
Units redeemed		(31,135	)		(4,774	)		(1,884	)		(75,252	)		(1,065,566	)		(624	)		(14,033	)
Net increase (decrease)		(29,183	)		694			6,286			(13,796	)		(218,643	)		14,904			92,346

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 76

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Great-West International Value Fund			Great-West Large Cap Growth Fund			Great-West Large Cap Value Fund Investor II Class Fund			Great-West Lifetime 2015 Fund			Great-West Lifetime 2020 Fund			Great-West Lifetime 2025 Fund			Great-West Lifetime 2030 Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	120,235		$	2,503		$	30,462		$	24,312		$	16,128		$	118,987		$	73,453
Net realized gain (loss) on investments		304,947			68,602			206,338			142,049			42,623			437,341			439,047
Change in net unrealized appreciation (depreciation) on investments		144,868			(24,790	)		367,669			(53,704	)		3,098			(56,103	)		(216,585	)
Net increase (decrease) in net assets resulting from operations		570,050			46,314			604,468			112,657			61,850			500,225			295,915
POLICY TRANSACTIONS:
Proceeds from units sold		34,669			109,988			8,538			138,022			26,374			590,108			923,541
Policy maintenance charges		(65,261	)		(4,046	)		(28,295	)		(14,378	)		(13,107	)		(54,370	)		(35,321	)
Transfers for Policy benefits and terminations		(786,891	)		(30,781	)		(57,970	)		-			(30,161	)		(208,443	)		(192,795	)
Net transfers (to) from the Company and/or Subaccounts		2,564,639			40,090			(125,828	)		(656,662	)		2,014			153,885			(425,707	)
Increase (decrease) in net assets resulting from Policy transactions		1,747,156			115,251			(203,555	)		(533,018	)		(14,881	)		481,180			269,718
Total increase (decrease) in net assets		2,317,207			161,565			400,914			(420,361	)		46,969			981,405			565,633
NET ASSETS:
Beginning of period		5,286,269			179,522			2,403,427			1,624,754			675,423			4,742,897			2,376,708
End of period	$	7,603,476		$	341,087		$	2,804,341		$	1,204,392		$	722,392		$	5,724,302		$	2,942,342
CHANGES IN UNITS OUTSTANDING:
Units issued		162,283			5,248			10,915			12,655			2,846			68,432			175,542
Units redeemed		(61,132	)		(3,557	)		(27,163	)		(48,988	)		(3,788	)		(38,157	)		(158,814	)
Net increase (decrease)		101,151			1,691			(16,248	)		(36,333	)		(942	)		30,274			16,728

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 77

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Great-West Lifetime 2035 Fund			Great-West Lifetime 2040 Fund			Great-West Lifetime 2045 Fund			Great-West Lifetime 2050 Fund			Great-West Lifetime 2055 Fund			Great-West Lifetime 2060 Fund			Great-West Mid Cap Value Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	46,249		$	46,808		$	25,831		$	13,909		$	8,962		$	-		$	53,750
Net realized gain (loss) on investments		197,947			240,922			165,160			39,332			57,937			-			56,092
Change in net unrealized appreciation (depreciation) on investments		(1,500	)		(71,428	)		(18,730	)		13,957			(6,962	)		-			(57,151	)
Net increase (decrease) in net assets resulting from operations		242,697			216,303			172,260			67,199			59,937			-			52,691
POLICY TRANSACTIONS:
Proceeds from units sold		347,530			163,508			106,311			3,983			5,185			12			67,710
Policy maintenance charges		(43,056	)		(18,691	)		(23,077	)		(6,133	)		(6,132	)		-			(3,112	)
Transfers for Policy benefits and terminations		(288,415	)		(89,882	)		(314,715	)		(18,644	)		(35,774	)		-			(1,673	)
Net transfers (to) from the Company and/or Subaccounts		58,663			30,506			(52,610	)		25,597			17,199			-			124,112
Increase (decrease) in net assets resulting from Policy transactions		74,722			85,442			(284,091	)		4,803			(19,523	)		12			187,037
Total increase (decrease) in net assets		317,418			301,745			(111,830	)		72,002			40,414			12			239,727
NET ASSETS:
Beginning of period		1,756,915			1,423,547			1,169,931			415,345			394,324			-			105,139
End of period	$	2,074,333		$	1,725,292		$	1,058,100		$	487,347		$	434,738		$	12		$	344,866
CHANGES IN UNITS OUTSTANDING:
Units issued		27,823			63,461			11,469			1,963			7,497			2			30,336
Units redeemed		(23,363	)		(58,877	)		(27,136	)		(1,709	)		(8,704	)		(1	)		(18,849	)
Net increase (decrease)		4,460			4,583			(15,667	)		254			(1,207	)		1			11,487

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 78

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Great-West Moderate Profile Fund			Great-West Moderately Aggressive Profile Fund			Great-West Moderately Conservative Profile Fund			Great-West Multi- Sector Bond Fund			Great-West Real Estate Index Fund			Great-West S&P Mid Cap 400® Index Fund			Great-West S&P Small Cap 600® Index Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	3,427		$	1,315		$	55,902		$	7,252		$	12,435		$	155,953		$	16,476
Net realized gain (loss) on investments		14,537			3,249			74,090			15,760			167,990			848,858			161,631
Change in net unrealized appreciation (depreciation) on investments		(4,881	)		(992	)		4,915			(19,759	)		539,932			1,079,250			(52,880	)
Net increase (decrease) in net assets resulting from operations		13,083			3,572			134,908			3,253			720,357			2,084,061			125,228
POLICY TRANSACTIONS:
Proceeds from units sold		12			2,832			613,454			12			1,267,830			413,183			159,169
Policy maintenance charges		(2,029	)		(714	)		(33,322	)		(5,015	)		(19,807	)		(130,692	)		(9,416	)
Transfers for Policy benefits and terminations		(20,395	)		-			(19,530	)		(49,843	)		-			(467,705	)		(12,014	)
Net transfers (to) from the Company and/or Subaccounts		(236,530	)		(57,989	)		(2,778	)		(70,917	)		(370,535	)		1,978,926			154,042
Increase (decrease) in net assets resulting from Policy transactions		(258,942	)		(55,872	)		557,824			(125,764	)		877,488			1,793,712			291,781
Total increase (decrease) in net assets		(245,859	)		(52,300	)		692,731			(122,510	)		1,597,844			3,877,773			417,009
NET ASSETS:
Beginning of period		338,360			82,569			1,401,224			403,237			301,374			7,744,324			469,019
End of period	$	92,501		$	30,269		$	2,093,956		$	280,727		$	1,899,218		$	11,622,097		$	886,028
CHANGES IN UNITS OUTSTANDING:
Units issued		2,028			262			46,640			1,021			107,402			137,944			31,286
Units redeemed		(21,366	)		(4,384	)		(5,793	)		(3,719	)		(32,405	)		(63,695	)		(18,606	)
Net increase (decrease)		(19,338	)		(4,122	)		40,847			(2,698	)		74,997			74,249			12,680

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 79

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Great-West Short Duration Bond Fund			Great-West Small Cap Growth Fund			Great-West Small Cap Value Fund			Great-West T. Rowe Price Mid Cap Growth Fund			Great-West U.S. Government Securities Fund			Invesco Oppenheimer V.I. Main Street Small Cap Fund			Invesco V.I. Core Equity Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	70,758		$	-		$	39,076		$	4,910		$	26,231		$	1,787		$	170
Net realized gain (loss) on investments		72,143			2			76,574			342,930			67,052			150,025			812
Change in net unrealized appreciation (depreciation) on investments		(143,137	)		(2	)		187,392			18,246			(179,305	)		(71,477	)		5,460
Net increase (decrease) in net assets resulting from operations		(236	)		(0	)		303,042			366,086			(86,022	)		80,336			6,443
POLICY TRANSACTIONS:
Proceeds from units sold		77,620			12			3,261			60,137			148,006			15,980			-
Policy maintenance charges		(87,087	)		-			(12,423	)		(32,955	)		(48,118	)		(8,996	)		(431	)
Transfers for Policy benefits and terminations		(290,609	)		-			-			(89,218	)		-			(24,660	)		-
Net transfers (to) from the Company and/or Subaccounts		(54,143	)		-			(110,778	)		(325,880	)		(101,750	)		177,626			(4,597	)
Increase (decrease) in net assets resulting from Policy transactions		(354,219	)		12			(119,940	)		(387,916	)		(1,861	)		159,949			(5,028	)
Total increase (decrease) in net assets		(354,456	)		11			183,102			(21,830	)		(87,883	)		240,285			1,414
NET ASSETS:
Beginning of period		6,957,530			-			1,031,759			2,881,634			3,947,080			345,905			24,950
End of period	$	6,603,074		$	11		$	1,214,861		$	2,859,804		$	3,859,197		$	586,190		$	26,365
CHANGES IN UNITS OUTSTANDING:
Units issued		9,744			1			443			4,621			8,400			30,739			-
Units redeemed		(32,411	)		-			(2,703	)		(10,281	)		(8,526	)		(23,016	)		(138	)
Net increase (decrease)		(22,666	)		1			(2,260	)		(5,660	)		(125	)		7,723			(138	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 80

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Invesco V.I. Global Real Estate Fund			Invesco V.I. Health Care Fund			Invesco V.I. International Growth Fund			Invesco V.I. Mid Cap Core Equity Fund			Invesco V.I. Technology Fund			Janus Henderson VIT Balanced Portfolio			Janus Henderson VIT Enterprise Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	35,328		$	206		$	40,171		$	2,180		$	-		$	28,501		$	3,368
Net realized gain (loss) on investments		27,358			23,625			451,847			(3,298	)		44,446			275,837			244,153
Change in net unrealized appreciation (depreciation) on investments		282,870			(12,271	)		(276,330	)		97,264			(39,148	)		218,668			(96,461	)
Net increase (decrease) in net assets resulting from operations		345,556			11,559			215,688			96,146			5,298			523,006			151,061
POLICY TRANSACTIONS:
Proceeds from units sold		20,081			-			4,886			-			-			56,510			22,608
Policy maintenance charges		(15,210	)		(1,107	)		(40,246	)		(4,999	)		(140	)		(46,856	)		(16,480	)
Transfers for Policy benefits and terminations		(306,890	)		-			(883,426	)		-			-			-			(323,905	)
Net transfers (to) from the Company and/or Subaccounts		(97,774	)		(34,638	)		(8,487	)		28,172			(134,080	)		(876,960	)		115,966
Increase (decrease) in net assets resulting from Policy transactions		(399,793	)		(35,746	)		(927,272	)		23,173			(134,220	)		(867,306	)		(201,811	)
Total increase (decrease) in net assets		(54,237	)		(24,186	)		(711,584	)		119,320			(128,922	)		(344,301	)		(50,750	)
NET ASSETS:
Beginning of period		1,418,213			70,714			3,912,686			395,227			128,922			3,426,074			775,992
End of period	$	1,363,976		$	46,528		$	3,201,102		$	514,547		$	-		$	3,081,773		$	725,242
CHANGES IN UNITS OUTSTANDING:
Units issued		1,256			619			14,178			1,746			213			5,810			38,338
Units redeemed		(9,620	)		(1,247	)		(54,001	)		(1,024	)		(2,851	)		(24,188	)		(46,591	)
Net increase (decrease)		(8,365	)		(628	)		(39,823	)		722			(2,638	)		(18,378	)		(8,253	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 81

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Janus Henderson VIT Flexible Bond Portfolio			Janus Henderson VIT Forty Portfolio			Janus Henderson VIT Global Research Portfolio			Janus Henderson VIT Global Technology and Innovation Portfolio			Janus Henderson VIT Overseas Portfolio			Lord Abbett Series Developing Growth Portfolio			Lord Abbett Series Total Return Portfolio
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	57,799		$	-		$	1,403		$	6,405		$	890		$	-		$	419
Net realized gain (loss) on investments		93,745			856,667			107,179			735,355			268			61,311			111
Change in net unrealized appreciation (depreciation) on investments		(181,832	)		(314,104	)		(43,034	)		(282,798	)		8,375			(69,990	)		(563	)
Net increase (decrease) in net assets resulting from operations		(30,288	)		542,563			65,547			458,963			9,533			(8,679	)		(33	)
POLICY TRANSACTIONS:
Proceeds from units sold		12			49,087			-			270,553			-			-			1,845
Policy maintenance charges		(46,621	)		(30,594	)		(4,667	)		(35,585	)		(1,017	)		(3,374	)		(807	)
Transfers for Policy benefits and terminations		(48,421	)		-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		301,381			(1,501,701	)		(208,788	)		(52,304	)		-			32,081			(1,576	)
Increase (decrease) in net assets resulting from Policy transactions		206,350			(1,483,208	)		(213,455	)		182,664			(1,017	)		28,707			(538	)
Total increase (decrease) in net assets		176,063			(940,645	)		(147,908	)		641,627			8,516			20,028			(572	)
NET ASSETS:
Beginning of period		2,760,058			2,763,301			318,962			2,347,486			70,414			221,769			21,014
End of period	$	2,936,120		$	1,822,656		$	171,054		$	2,989,113		$	78,929		$	241,797		$	20,443
CHANGES IN UNITS OUTSTANDING:
Units issued		33,390			2,800			2,408			11,833			-			1,118			661
Units redeemed		(27,032	)		(17,507	)		(11,101	)		(9,826	)		(25	)		(103	)		(705	)
Net increase (decrease)		6,357			(14,706	)		(8,693	)		2,007			(25	)		1,015			(44	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 82

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	MFS VIT Growth Series			MFS VIT II International Growth Portfolio			MFS VIT III Blended Research Small Cap Equity Portfolio			MFS VIT III Global Real Estate Portfolio			MFS VIT III Mid Cap Value Portfolio			MFS VIT Mid Cap Growth Series			MFS VIT Research Series
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	-		$	8,611		$	118		$	713		$	272		$	-		$	382
Net realized gain (loss) on investments		2,847			85,324			1,773			9,225			3,441			121,519			4,583
Change in net unrealized appreciation (depreciation) on investments		1,254			40,776			2,139			12,553			4,131			(47,675	)		10,484
Net increase (decrease) in net assets resulting from operations		4,101			134,711			4,030			22,491			7,844			73,844			15,449
POLICY TRANSACTIONS:
Proceeds from units sold		12			1,377,625			79			63,736			1,281			310,713			12
Policy maintenance charges		(838	)		(21,773	)		(586	)		(1,474	)		(892	)		(9,338	)		(3,030	)
Transfers for Policy benefits and terminations		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		-			344,458			(5,432	)		111,980			39,953			96,630			-
Increase (decrease) in net assets resulting from Policy transactions		(826	)		1,700,311			(5,940	)		174,242			40,342			398,004			(3,018	)
Total increase (decrease) in net assets		3,275			1,835,022			(1,910	)		196,732			48,186			471,848			12,431
NET ASSETS:
Beginning of period		17,812			470,317			15,983			35,294			5,633			482,217			63,561
End of period	$	21,087		$	2,305,339		$	14,073		$	232,026		$	53,819		$	954,065		$	75,992
CHANGES IN UNITS OUTSTANDING:
Units issued		1			142,619			8			19,355			3,688			17,293			1
Units redeemed		(43	)		(11,252	)		(385	)		(8,778	)		(1,011	)		(1,287	)		(139	)
Net increase (decrease)		(42	)		131,367			(377	)		10,576			2,677			16,006			(138	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 83

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	MFS VIT Total Return Bond Series			MFS VIT Value Series			Neuberger Berman AMT Mid Cap Growth Portfolio			Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio			Neuberger Berman AMT Sustainable Equity Portfolio			Pimco VIT Commodity Real Return Strategy Portfolio			Pimco VIT Global Bond Opportunities Portfolio (Unhedged)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	88,852		$	12,559		$	-		$	444		$	693		$	486		$	135,783
Net realized gain (loss) on investments		87,134			42,418			2,304			(896	)		42,447			(17	)		(23,065	)
Change in net unrealized appreciation (depreciation) on investments		(204,619	)		168,947			(208	)		20,114			(8,102	)		620			(221,340	)
Net increase (decrease) in net assets resulting from operations		(28,633	)		223,924			2,095			19,663			35,038			1,088			(108,622	)
POLICY TRANSACTIONS:
Proceeds from units sold		1,107			12			-			420			12			15,311			2,496,943
Policy maintenance charges		(69,025	)		(11,601	)		(283	)		(633	)		(2,757	)		(284	)		(28,148	)
Transfers for Policy benefits and terminations		(1,156,554	)		-			-			-			-			-			(1	)
Net transfers (to) from the Company and/or Subaccounts		170,520			815,105			(445	)		(148,988	)		(93,946	)		35,203			(541,480	)
Increase (decrease) in net assets resulting from Policy transactions		(1,053,952	)		803,515			(728	)		(149,201	)		(96,691	)		50,230			1,927,314
Total increase (decrease) in net assets		(1,082,585	)		1,027,440			1,367			(129,538	)		(61,653	)		51,319			1,818,692
NET ASSETS:
Beginning of period		4,348,168			520,469			16,296			207,746			149,704			-			317,558
End of period	$	3,265,583		$	1,547,909		$	17,663		$	78,208		$	88,051		$	51,319		$	2,136,250
CHANGES IN UNITS OUTSTANDING:
Units issued		16,562			54,261			10			89			565			9,276			214,845
Units redeemed		(103,744	)		(9,053	)		(26	)		(6,010	)		(2,224	)		(5,532	)		(52,183	)
Net increase (decrease)		(87,182	)		45,208			(16	)		(5,922	)		(1,659	)		3,744			162,662

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 84

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Pimco VIT High Yield Portfolio			Pimco VIT Low Duration Portfolio			Pimco VIT Real Return Portfolio			Pimco VIT Total Return Portfolio			Pioneer Real Estate Shares VCT Portfolio			Putnam VT Equity Income Fund			Putnam VT Global Asset Allocation Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	40,298		$	45,444		$	53,012		$	144,516		$	1,741		$	11,690		$	135
Net realized gain (loss) on investments		682			921			4,756			344,590			(1,412	)		153,634			482
Change in net unrealized appreciation (depreciation) on investments		(5,967	)		(126,293	)		5,981			(558,067	)		42,436			56,102			1,323
Net increase (decrease) in net assets resulting from operations		35,014			(79,929	)		63,749			(68,961	)		42,765			221,426			1,940
POLICY TRANSACTIONS:
Proceeds from units sold		490,335			490,368			491,539			2,954,448			12,792			125,735			12
Policy maintenance charges		(10,741	)		(125,186	)		(11,336	)		(110,606	)		(1,884	)		(12,271	)		(633	)
Transfers for Policy benefits and terminations		-			-			-			(1	)		-			(204,657	)		-
Net transfers (to) from the Company and/or Subaccounts		285,790			(13,599	)		181,516			769,328			175,962			91,177			-
Increase (decrease) in net assets resulting from Policy transactions		765,385			351,584			661,718			3,613,169			186,870			(16	)		(621	)
Total increase (decrease) in net assets		800,399			271,656			725,467			3,544,207			229,635			221,411			1,319
NET ASSETS:
Beginning of period		313,151			8,295,890			499,006			4,802,577			75,150			878,504			13,866
End of period	$	1,113,550		$	8,567,545		$	1,224,473		$	8,346,784		$	304,785		$	1,099,915		$	15,185
CHANGES IN UNITS OUTSTANDING:
Units issued		27,400			42,692			33,837			168,760			12,268			12,223			1
Units redeemed		(619	)		(21,048	)		(2,232	)		(10,053	)		(338	)		(12,588	)		(41	)
Net increase (decrease)		26,781			21,643			31,605			158,707			11,929			(365	)		(39	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 85

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Putnam VT Global Equity Fund			Putnam VT Growth Opportunities Fund			Putnam VT High Yield Fund			Putnam VT Income Fund			Putnam VT International Value Fund			Putnam VT Research Fund			Putnam VT Small Cap Value Fund
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	1,009		$	-		$	34,889		$	106		$	4,328		$	745		$	39
Net realized gain (loss) on investments		5,057			312,844			(2,584	)		(229	)		12,909			22,652			187
Change in net unrealized appreciation (depreciation) on investments		2,254			71,972			(4,744	)		(225	)		17,500			24,182			1,204
Net increase (decrease) in net assets resulting from operations		8,319			384,815			27,562			(347	)		34,737			47,579			1,430
POLICY TRANSACTIONS:
Proceeds from units sold		12			8,735			6,799			12			16,508			12			12
Policy maintenance charges		(2,754	)		(22,736	)		(5,626	)		(61	)		(4,618	)		(6,584	)		(57	)
Transfers for Policy benefits and terminations		-			-			(618,458	)		(7,729	)		-			-			-
Net transfers (to) from the Company and/or Subaccounts		164,256			(1,021,013	)		65,217			65,581			301,113			616,585			(193	)
Increase (decrease) in net assets resulting from Policy transactions		161,514			(1,035,014	)		(552,068	)		57,804			313,004			610,013			(238	)
Total increase (decrease) in net assets		169,833			(650,199	)		(524,506	)		57,456			347,741			657,592			1,192
NET ASSETS:
Beginning of period		28,448			1,665,959			658,908			8,585			247,390			-			3,549
End of period	$	198,282		$	1,015,760		$	134,402		$	66,042		$	595,131		$	657,592		$	4,741
CHANGES IN UNITS OUTSTANDING:
Units issued		10,686			11,579			2,666			5,761			30,770			30,767			20
Units redeemed		(669	)		(42,936	)		(22,184	)		(942	)		(10,412	)		(4,256	)		(32	)
Net increase (decrease)		10,017			(31,357	)		(19,517	)		4,819			20,358			26,512			(12	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 86

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Putnam VT Sustainable Future Fund			Royce Capital Fund - Small-Cap Portfolio			T. Rowe Price Blue Chip Growth Portfolio Class II			Van Eck VIP Emerging Markets Fund			Van Eck VIP Global Hard Assets Fund			Vanguard VIF Global Bond Index			Vanguard VIF Total Bond Market Index
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	-		$	885		$	-		$	682		$	4,650		$	-		$	-
Net realized gain (loss) on investments		30,481			799			942,317			2,583			132,947			(6	)		(5	)
Change in net unrealized appreciation (depreciation) on investments		(14,102	)		18,432			(338,070	)		(12,234	)		75,815			(4,614	)		(3,356	)
Net increase (decrease) in net assets resulting from operations		16,379			20,116			604,247			(8,969	)		213,413			(4,620	)		(3,361	)
POLICY TRANSACTIONS:
Proceeds from units sold		36,523			-			91,043			-			96,626			-			-
Policy maintenance charges		(2,298	)		(1,559	)		(54,369	)		(930	)		(14,297	)		(1,192	)		(1,194	)
Transfers for Policy benefits and terminations		-			(16,388	)		-			-			(222,391	)		-			-
Net transfers (to) from the Company and/or Subaccounts		(5,103	)		-			884,823			(9,383	)		132,621			824,752			824,751
Increase (decrease) in net assets resulting from Policy transactions		29,122			(17,947	)		921,497			(10,313	)		(7,441	)		823,559			823,558
Total increase (decrease) in net assets		45,501			2,169			1,525,744			(19,282	)		205,971			818,939			820,197
NET ASSETS:
Beginning of period		239,827			74,073			2,250,138			74,103			1,175,142			-			-
End of period	$	285,328		$	76,242		$	3,775,881		$	54,822		$	1,381,113		$	818,939		$	820,197
CHANGES IN UNITS OUTSTANDING:
Units issued		675			-			128,388			-			7,684			81,436			81,400
Units redeemed		(254	)		(739	)		(89,761	)		(191	)		(7,941	)		(118	)		(118	)
Net increase (decrease)		421			(739	)		38,627			(191	)		(257	)		81,317			81,281

Note: Totals may not appear to foot/crossfoot due to rounding.

(Continued)

See accompanying notes to financial statements.

 87

COLI VUL-2 SERIES ACCOUNT OF

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2021

	SUBACCOUNTS
	Victory RS Small Cap Growth Equity VIP
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Total investment income	$	-
Net realized gain (loss) on investments		974
Change in net unrealized appreciation (depreciation) on investments		(2,429	)
Net increase (decrease) in net assets resulting from operations		(1,456	)
POLICY TRANSACTIONS:
Proceeds from units sold		12
Policy maintenance charges		(584	)
Transfers for Policy benefits and terminations		-
Net transfers (to) from the Company and/or Subaccounts		-
Increase (decrease) in net assets resulting from Policy transactions		(572	)
Total increase (decrease) in net assets		(2,028	)
NET ASSETS:
Beginning of period		14,348
End of period	$	12,320
CHANGES IN UNITS OUTSTANDING:
Units issued		1
Units redeemed		(37	)
Net increase (decrease)		(36	)

Note: Totals may not appear to foot/crossfoot due to rounding.

(Concluded)

See accompanying notes to financial statements.

 88

COLI VUL-2 SERIES ACCOUNT OF 

EMPOWER ANNUITY INSURANCE COMPANY OF AMERICA

NOTES TO FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31, 2022

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

Effective August 1, 2022, Great West Life & Annuity Insurance Company is now known as Empower Annuity Insurance Company of America (the Company). The COLI VUL-2 Series Account (the Separate Account), a variable life separate account of the Company, is registered as a unit investment trust under the Investment Company Act of 1940, as amended, and exists in accordance with regulations of the Colorado Division of Insurance was established on December 30, 1998. It is a funding vehicle for variable life insurance policies. The Separate Account consists of numerous investment divisions (Subaccounts), each being treated as an individual accounting entity for financial reporting purposes, and each investing all of its investible assets in the named underlying mutual fund.

Under applicable insurance law, the assets and liabilities of each of the Subaccounts of the Separate Account are clearly identified and distinguished from the Company's other assets and liabilities. The portion of the Separate Account's assets applicable to the reserves and other policy liabilities with respect to the Separate Account is not chargeable with liabilities arising out of any other business the Company may conduct. Net premiums from the Policies are allocated to the subaccounts in accordance with policy owner instructions and are recorded as variable annuity policy transactions in the Statements of Changes in Net Assets. Such amounts are used to provide account funds to pay policy values under the Policies. Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the Company’s other assets and liabilities.

The preparation of financial statements and financial highlights of each of the Subaccounts in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and financial highlights and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. The Separate Account is an investment company and, therefore, applies specialized accounting guidance in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 “Financial Services – Investment Companies” (ASC Topic 946).

The following is a list of the variable life insurance products funded by the Separate Account:
Executive Benefit VUL II

For the years or periods ended December 31, 2022 and 2021, the Separate Account was invested in up to 130 Subaccounts, as follows:

Alger Small Cap Growth Portfolio	American Funds IS Growth Fund
American Century Investments VP Capital Appreciation Fund	American Funds IS International Fund
American Century Investments VP Inflation Protection Fund	American Funds IS New World Fund
American Century Investments VP International Fund	Blackrock 60/40 Target Allocation ETF VI Fund(b)
American Century Investments VP Mid Cap Value Fund	Blackrock Global Allocation VI Fund
American Century Investments VP Ultra Fund(b)	Blackrock High Yield VI Fund
American Century Investments VP Value Fund	BNY Mellon Stock Index Portfolio
American Fund Is Growth and Income Fund	Clearbridge Variable Mid Cap Portfolio
American Funds IS Global Small Capitalization Fund	Clearbridge Variable Small Cap Growth Portfolio

89 

Columbia Variable Portfolio - Small Cap Value Fund	Empower Real Estate Index Fund(a)
Davis Financial Portfolio	Empower S&P Mid Cap 400® Index Fund(a)
Davis Value Portfolio	Empower S&P Small Cap 600® Index Fund(a)
Delaware VIP International Series	Empower Short Duration Bond Fund(a)
Delaware VIP Small Cap Value Series	Empower Small Cap Growth Fund(a)(b)
DFA VIT Inflation-Protected Securities(b)	Empower Small Cap Value Fund(a)
DWS Core Equity VIP(b)	Empower T. Rowe Price Mid Cap Growth Fund(a)
DWS Croci® U.S. VIP	Empower U.S. Government Securities Fund(a)
DWS High Income VIP	Federated Hermes High Income Bond Fund II(b)
DWS Small Cap Index VIP	Federated Hermes Kaufmann Fund II
DWS Small Mid Cap Value VIP	Fidelity VIP Contrafund Portfolio
Eaton Vance Vt Floating-Rate Income Fund	Fidelity VIP Emerging Markets Portfolio
Empower Aggressive Profile Fund(a)	Fidelity VIP Growth Portfolio
Empower Ariel Mid Cap Value Fund(a)	Fidelity VIP Index 500 Portfolio(b)
Empower Bond Index Fund(a)	Fidelity VIP Investment Grade Bond Portfolio
Empower Conservative Profile Fund(a)	Fidelity VIP Mid Cap Portfolio
Empower Core Bond Fund(a)	Goldman Sachs VIT Mid Cap Value Fund
Empower Emerging Markets Equity Fund(a)	Goldman Sachs VIT Multi-Strategy Alternatives Portfolio
Empower Global Bond Fund(a)	Invesco Oppenheimer V.I. Main Street Small Cap Fund
Empower Government Money Market Fund(a)	Invesco V.I. Core Equity Fund
Empower Inflation- Protected Securities Fund(a)	Invesco V.I. Global Real Estate Fund
Empower International Index Fund(a)	Invesco V.I. Health Care Fund
Empower International Value Fund(a)	Invesco V.I. International Growth Fund
Empower Large Cap Growth Fund(a)	Invesco V.I. Mid Cap Core Equity Fund
Empower Large Cap Value Fund Investor II Class Fund(a)	Invesco V.I. Technology Fund(c)
Empower Lifetime 2015 Fund(a)	Janus Henderson VIT Balanced Portfolio
Empower Lifetime 2020 Fund(a)	Janus Henderson VIT Enterprise Portfolio
Empower Lifetime 2025 Fund(a)	Janus Henderson VIT Flexible Bond Portfolio
Empower Lifetime 2030 Fund(a)	Janus Henderson VIT Forty Portfolio
Empower Lifetime 2035 Fund(a)	Janus Henderson VIT Global Research Portfolio
Empower Lifetime 2040 Fund(a)	Janus Henderson VIT Global Technology and Innovation Portfolio
Empower Lifetime 2045 Fund(a)	Janus Henderson VIT Overseas Portfolio
Empower Lifetime 2050 Fund(a)	JP Morgan Insurance Trust Small Cap Core Portfolio
Empower Lifetime 2055 Fund(a)	JP Morgan Insurance Trust Us Equity Portfolio
Empower Lifetime 2060 Fund(a)(b)	Lord Abbett Series Developing Growth Portfolio
Empower Mid Cap Value Fund(a)	Lord Abbett Series Total Return Portfolio
Empower Moderate Profile Fund(a)	MFS VIT Growth Series
Empower Moderately Aggressive Profile Fund(a)	MFS VIT II International Growth Portfolio
Empower Moderately Conservative Profile Fund(a)	MFS VIT III Blended Research Small Cap Equity Portfolio
Empower Multi- Sector Bond Fund(a)	MFS VIT III Global Real Estate Portfolio

90 

MFS VIT III Mid Cap Value Portfolio	Putnam VT Global Asset Allocation Fund
MFS VIT Mid Cap Growth Series	Putnam VT Global Equity Fund
MFS VIT Research Series	Putnam VT Growth Opportunities Fund
MFS VIT Total Return Bond Series	Putnam VT High Yield Fund
MFS VIT Value Series	Putnam VT Income Fund
Neuberger Berman AMT Mid Cap Growth Portfolio	Putnam VT International Value Fund
Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio	Putnam VT Research Fund(b)
Neuberger Berman AMT Sustainable Equity Portfolio	Putnam VT Small Cap Value Fund
Pimco VIT Commodity Real Return Strategy Portfolio(b)	Putnam VT Sustainable Future Fund
Pimco VIT Global Bond Opportunities Portfolio (Unhedged)	Royce Capital Fund - Small-Cap Portfolio
Pimco VIT High Yield Portfolio	T. Rowe Price Blue Chip Growth Portfolio Class II
Pimco VIT Low Duration Portfolio	Van Eck VIP Emerging Markets Fund
Pimco VIT Real Return Portfolio	Van Eck VIP Global Hard Assets Fund
Pimco VIT Total Return Portfolio	Vanguard VIF Global Bond Index(b)
Pioneer Real Estate Shares VCT Portfolio	Vanguard VIF Total Bond Market Index(b)
Putnam VT Equity Income Fund	Victory RS Small Cap Growth Equity VIP

^(a)(b)(c)See Subaccount Changes table below

Certain subaccounts that had no investments balances as of December 31, 2022 or that did not have activity during the year ended December 31, 2022 are not presented on the Statements of Assets and Liabilities as of December 31, 2022 or Statements of Operations for the year ended December 31, 2022, respectively.

Subaccount Changes:
(a) During 2022, the following Subaccounts changed their names:

Previous Name	New Name	Date of Change
Great-West Aggressive Profile Fund	Empower Aggressive Profile Fund	August 1, 2022
Great-West Ariel Mid Cap Value Fund	Empower Ariel Mid Cap Value Fund	August 1, 2022
Great-West Bond Index Fund	Empower Bond Index Fund	August 1, 2022
Great-West Conservative Profile Fund	Empower Conservative Profile Fund	August 1, 2022
Great-West Core Bond Fund	Empower Core Bond Fund	August 1, 2022
Great-West Emerging Markets Equity Fund	Empower Emerging Markets Equity Fund	August 1, 2022
Great-West Global Bond Fund	Empower Global Bond Fund	August 1, 2022
Great-West Government Money Market Fund	Empower Government Money Market Fund	August 1, 2022
Great-West Inflation- Protected Securities Fund	Empower Inflation- Protected Securities Fund	August 1, 2022
Great-West International Index Fund	Empower International Index Fund	August 1, 2022
Great-West International Value Fund	Empower International Value Fund	August 1, 2022
Great-West Large Cap Growth Fund	Empower Large Cap Growth Fund	August 1, 2022
Great-West Large Cap Value Fund Investor II Class Fund	Empower Large Cap Value Fund Investor II Class Fund	August 1, 2022
Great-West Lifetime 2015 Fund	Empower Lifetime 2015 Fund	August 1, 2022
Great-West Lifetime 2020 Fund	Empower Lifetime 2020 Fund	August 1, 2022
Great-West Lifetime 2025 Fund	Empower Lifetime 2025 Fund	August 1, 2022
Great-West Lifetime 2030 Fund	Empower Lifetime 2030 Fund	August 1, 2022
Great-West Lifetime 2035 Fund	Empower Lifetime 2035 Fund	August 1, 2022
Great-West Lifetime 2040 Fund	Empower Lifetime 2040 Fund	August 1, 2022
Great-West Lifetime 2045 Fund	Empower Lifetime 2045 Fund	August 1, 2022
Great-West Lifetime 2050 Fund	Empower Lifetime 2050 Fund	August 1, 2022

91 

Previous Name	New Name	Date of Change
Great-West Lifetime 2055 Fund	Empower Lifetime 2055 Fund	August 1, 2022
Great-West Lifetime 2060 Fund	Empower Lifetime 2060 Fund	August 1, 2022
Great-West Mid Cap Value Fund	Empower Mid Cap Value Fund	August 1, 2022
Great-West Moderate Profile Fund	Empower Moderate Profile Fund	August 1, 2022
Great-West Moderately Aggressive Profile Fund	Empower Moderately Aggressive Profile Fund	August 1, 2022
Great-West Moderately Conservative Profile Fund	Empower Moderately Conservative Profile Fund	August 1, 2022
Great-West Multi- Sector Bond Fund	Empower Multi- Sector Bond Fund	August 1, 2022
Great-West Real Estate Index Fund	Empower Real Estate Index Fund	August 1, 2022
Great-West S&P Mid Cap 400® Index Fund	Empower S&P Mid Cap 400® Index Fund	August 1, 2022
Great-West S&P Small Cap 600® Index Fund	Empower S&P Small Cap 600® Index Fund	August 1, 2022
Great-West Short Duration Bond Fund	Empower Short Duration Bond Fund	August 1, 2022
Great-West Small Cap Growth Fund	Empower Small Cap Growth Fund	August 1, 2022
Great-West Small Cap Value Fund	Empower Small Cap Value Fund	August 1, 2022
Great-West T. Rowe Price Mid Cap Growth Fund	Empower T. Rowe Price Mid Cap Growth Fund	August 1, 2022
Great-West U.S. Government Securities Fund	Empower U.S. Government Securities Fund	August 1, 2022

(b) During 2022 or 2021, the following Subaccounts were opened:

Subaccount Name	Date of Commencement
American Century Investments VP Ultra Fund	February 11, 2021
Blackrock 60/40 Target Allocation ETF VI Fund	August 26, 2021
DFA VIT Inflation-Protected Securities	April 21, 2022
DWS Core Equity VIP	August 26, 2021
Empower Lifetime 2060 Fund	August 26, 2021
Empower Small Cap Growth Fund	August 26, 2021
Federated Hermes High Income Bond Fund II	February 11, 2021
Fidelity VIP Index 500 Portfolio	December 6, 2021
JP Morgan Insurance Trust Small Cap Core Portfolio	January 3, 2022
JP Morgan Insurance Trust Us Equity Portfolio	January 3, 2022
Pimco VIT Commodity Real Return Strategy Portfolio	May 28, 2021
Putnam VT Research Fund	February 11, 2021
Vanguard VIF Global Bond Index	December 6, 2021
Vanguard VIF Total Bond Market Index	December 6, 2021

(c) During 2021, the following Subaccount was closed:

Subaccount Name	Date of Closure
Invesco V.I. Technology Fund	March 31, 2021

The following is a summary of the significant accounting policies of the Separate Account.

Security Valuation

Mutual fund investments held by the Subaccounts are valued at the reported net asset values of such underlying mutual funds, which value their investment securities at fair value.

The Separate Account classifies its valuations into three levels based upon the observability of inputs to the valuation of the Separate Account’s investments. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

Level 1 – Unadjusted quoted prices for identical securities in active markets.

Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. These may include quoted prices for similar assets in active markets.

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Level 3 – Unobservable inputs to the extent observable inputs are not available and may include prices obtained from single broker quotes. Unobservable inputs reflect the reporting entity’s own assumptions and would be based on the best information available under the circumstances.

As of December 31, 2022, the only investments of each of the Subaccounts of the Separate Account were in underlying mutual funds that are actively traded, therefore 100% of the investments are valued using Level 1 inputs.

Fund of Funds Structure Risk

Since the Separate Account invests directly in underlying funds, all risks associated with the eligible underlying funds apply to the Separate Account. To the extent the Separate Account invests more of its assets in one underlying fund than another, the Separate Account will have greater exposure to the risks of the underlying fund.

Security Transactions and Investment Income

Transactions are recorded on the trade date. Net realized gains and losses on investments include gains and losses on redemptions of the Subaccounts’ shares (determined for each product using the first-in-first-out (FIFO) basis) and capital gain distributions from the mutual funds. Realized gains and losses on sales of investments are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date and the amounts distributed to the Subaccount for its share of dividends are reinvested in additional full and fractional shares of the related mutual funds.

Receivables and payables from (to) the Policies and the fund manager

Receivables and payables from (to) the Policies and the fund manager include trading activity initiated at the Policy level from the last business day of the year that has not yet been settled with the fund manager.

Receivable Dividends and Other

Receivable dividends and other include dividends declared by the fund managers that have not yet been reinvested in accordance with Subaccounts’ designated reinvestment dates.

Federal Income Taxes

The operations of each of the Subaccounts of the Separate Account are included in the federal income tax return of the Company, which is taxed as a life insurance company under the provisions of the Internal Revenue Code (IRC). The Company is included in the consolidated federal tax return of Great-West Lifeco U.S. Inc. Under the current provisions of the IRC, the Company does not expect to incur federal income taxes on the earnings of each of the Subaccounts of the Separate Account. Based on this, no charge is being made currently to the Separate Account for federal income taxes. The Company will periodically review the status of the federal income tax policy in the event of changes in the tax law. A charge may be made in future years for any federal income taxes that would be attributable to the policies.

Proceeds from Units Sold

Proceeds from Units Sold from policy owners by the Company are credited as accumulation units, and are reported as Policy Transactions on the Statements of Changes in Net Assets of the applicable Subaccounts.

Net Transfers

Net transfers include transfers between Subaccounts of the Separate Account as well as transfers between other investment options of the Company, not included in the Separate Account.

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2. PURCHASES AND SALES OF INVESTMENTS

The cost of purchases and proceeds from sales of investments for the year ended December 31, 2022 were as follows:

Subaccount	Purchases		Sales
Alger Small Cap Growth Portfolio	$	184,595	$	364,192
American Century Investments VP Capital Appreciation Fund		106,237		6,872
American Century Investments VP Inflation Protection Fund		615,738		52,949
American Century Investments VP International Fund		17,713		24,053
American Century Investments VP Mid Cap Value Fund		873,140		734,135
American Century Investments VP Ultra Fund		40,598		10,943
American Century Investments VP Value Fund		360,489		850,555
American Fund IS Growth and Income Fund		46		36
American Funds IS Global Small Capitalization Fund		36,852		1,590
American Funds IS Growth Fund		1,039,394		754,075
American Funds IS International Fund		538,262		844,265
American Funds IS New World Fund		310,053		109,753
Blackrock 60/40 Target Allocation ETF VI Fund		12		1
Blackrock Global Allocation VI Fund		488,080		462,021
Blackrock High Yield VI Fund		332,631		86,862
BNY Mellon Stock Index Portfolio		7,540,696		6,304,805
Clearbridge Variable Mid Cap Portfolio		36,749		3,831
Clearbridge Variable Small Cap Growth Portfolio		464,604		379,024
Columbia Variable Portfolio - Small Cap Value Fund		286,322		426,977
Davis Financial Portfolio		125,975		32,075
Davis Value Portfolio		32,970		2,364
Delaware VIP International Series		13,923		118,697
Delaware VIP Small Cap Value Series		494,192		535,707
DFA VIT Inflation-Protected Securities		359,903		179,856
DWS Core Equity VIP		13		1
DWS Croci® U.S. VIP		-		-
DWS High Income VIP		35,837		6,447
DWS Small Cap Index VIP		2,301,672		1,394,054
DWS Small Mid Cap Value VIP		104,729		55,943
Eaton Vance Vt Floating-Rate Income Fund		298,366		217,679
Empower Aggressive Profile Fund		633,336		546,878
Empower Ariel Mid Cap Value Fund		52,274		15,780
Empower Bond Index Fund		1,152,824		922,004
Empower Conservative Profile Fund		602,077		131,088
Empower Core Bond Fund		2,396,372		4,666,793
Empower Emerging Markets Equity Fund		70,178		136,106
Empower Global Bond Fund		467,304		200,335
Empower Government Money Market Fund		28,674,257		16,522,827
Empower Inflation- Protected Securities Fund		13		841,551
Empower International Index Fund		795,975		523,687
Empower International Value Fund		677,493		536,539
Empower Large Cap Growth Fund		656,694		427,568
Empower Large Cap Value Fund Investor II Class Fund		281,318		348,098
Empower Lifetime 2015 Fund		826,101		1,246,722

94 

Subaccount	Purchases			Sales
Empower Lifetime 2020 Fund	$	76,516		$	13,977
Empower Lifetime 2025 Fund		4,217,647			852,194
Empower Lifetime 2030 Fund		938,502			352,314
Empower Lifetime 2035 Fund		718,314			118,368
Empower Lifetime 2040 Fund		506,251			56,172
Empower Lifetime 2045 Fund		346,426			247,604
Empower Lifetime 2050 Fund		144,904			43,516
Empower Lifetime 2055 Fund		333,580			92,684
Empower Lifetime 2060 Fund		13			1
Empower Mid Cap Value Fund		110,580			8,964
Empower Moderate Profile Fund		544,900			424,336
Empower Moderately Aggressive Profile Fund		437,429			333,667
Empower Moderately Conservative Profile Fund		1,141,232			319,549
Empower Multi- Sector Bond Fund		15,564			22,561
Empower Real Estate Index Fund		651,247			366,245
Empower S&P Mid Cap 400® Index Fund		2,008,396			2,585,736
Empower S&P Small Cap 600® Index Fund		656,513			464,169
Empower Short Duration Bond Fund		3,167,213			6,035,233
Empower Small Cap Growth Fund		12			1
Empower Small Cap Value Fund		52,813			85,926
Empower T. Rowe Price Mid Cap Growth Fund		574,462			735,229
Empower U.S. Government Securities Fund		2,365,621			5,247,745
Federated Hermes High Income Bond Fund II		30,413			4,193
Federated Hermes Kaufmann Fund II		47,652			4,399
Fidelity VIP Contrafund Portfolio		254,523			164,774
Fidelity VIP Emerging Markets Portfolio		349,699			290,987
Fidelity VIP Growth Portfolio		5,967			10,222
Fidelity VIP Index 500 Portfolio		2,080,124			1,070,501
Fidelity VIP Investment Grade Bond Portfolio		20,322			87,813
Fidelity VIP Mid Cap Portfolio		97,617			113,159
Goldman Sachs VIT Mid Cap Value Fund		16,568			1,330
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio		190			2,769
Invesco Oppenheimer V.I. Main Street Small Cap Fund		233,836			142,575
Invesco V.I. Core Equity Fund		4,549			7,484
Invesco V.I. Global Real Estate Fund		161,684			186,671
Invesco V.I. Health Care Fund		5,335			1,605
Invesco V.I. International Growth Fund		597,739			336,711
Invesco V.I. Mid Cap Core Equity Fund		0	*		506,618
Invesco V.I. Technology Fund		0	*		-
Janus Henderson VIT Balanced Portfolio		935,357			594,147
Janus Henderson VIT Enterprise Portfolio		229,835			159,330
Janus Henderson VIT Flexible Bond Portfolio		1,061,020			1,056,461
Janus Henderson VIT Forty Portfolio		399,291			101,114
Janus Henderson VIT Global Research Portfolio		20,067			21,147
Janus Henderson VIT Global Technology and Innovation Portfolio		872,701			726,078
Janus Henderson VIT Overseas Portfolio		1,249			1,220
JP Morgan Insurance Trust Small Cap Core Portfolio		14			1
JP Morgan Insurance Trust US Equity Portfolio		13			1
Lord Abbett Series Developing Growth Portfolio		-			29,927
Lord Abbett Series Total Return Portfolio		355,185			305,796
MFS VIT Growth Series		1,816			6,585

95 

Subaccount	Purchases			Sales
MFS VIT II International Growth Portfolio	$	803,411		$	616,491
MFS VIT III Blended Research Small Cap Equity Portfolio		2,770			2,821
MFS VIT III Global Real Estate Portfolio		94,527			15,421
MFS VIT III Mid Cap Value Portfolio		58,086			38,871
MFS VIT Mid Cap Growth Series		347,525			497,307
MFS VIT Research Series		8,463			26,961
MFS VIT Total Return Bond Series		121,043			70,936
MFS VIT Value Series		548,515			655,111
Neuberger Berman AMT Mid Cap Growth Portfolio		4,294			4,543
Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio		0	*		70,455
Neuberger Berman AMT Sustainable Equity Portfolio		19,036			9,669
Pimco VIT Commodity Real Return Strategy Portfolio		30,435			984
Pimco VIT Global Bond Opportunities Portfolio (Unhedged)		372,373			486,914
Pimco VIT High Yield Portfolio		238,815			212,664
Pimco VIT Low Duration Portfolio		2,495,617			6,131,213
Pimco VIT Real Return Portfolio		240,909			364,047
Pimco VIT Total Return Portfolio		1,028,922			849,297
Pioneer Real Estate Shares VCT Portfolio		58,552			96,399
Putnam VT Equity Income Fund		1,333,841			704,326
Putnam VT Global Asset Allocation Fund		1,444			6,198
Putnam VT Global Equity Fund		83,173			32,454
Putnam VT Growth Opportunities Fund		370,026			831,036
Putnam VT High Yield Fund		21,363			41,410
Putnam VT Income Fund		14,095			949
Putnam VT International Value Fund		672,167			333,873
Putnam VT Research Fund		192,962			53,204
Putnam VT Small Cap Value Fund		3,874			1,388
Putnam VT Sustainable Future Fund		122,776			49,432
Royce Capital Fund - Small-Cap Portfolio		1,258			1,607
T. Rowe Price Blue Chip Growth Portfolio Class II		2,051,667			2,210,008
Van Eck VIP Emerging Markets Fund		8,296			768
Van Eck VIP Global Hard Assets Fund		175,805			332,691
Vanguard VIF Global Bond Index		172,274			130,191
Vanguard VIF Total Bond Market Index		1,219,100			135,034
Victory RS Small Cap Growth Equity VIP		16			8,099

*The Subaccount had activity that did not round to $1.

3. EXPENSES AND RELATED PARTY TRANSACTIONS

Cost of Insurance

The Company deducts from each participant’s account an amount to pay for the insurance provided on each life. This charge varies based on individual characteristics of the policy holder, is assessed through a redemption of units, and is recorded as Transfers for Policy benefits and terminations on the Statements of Changes in Net Assets of the applicable Subaccounts.

Charges Incurred for Partial Surrenders

The Company deducts from each participant’s account a maximum administrative fee of $25 for all partial withdrawals after the first withdrawal made during the same policy year. This charge is deducted at surrender, assessed through a redemption of units, and recorded as Transfers for Policy benefits and terminations on the Statements of Changes in Net Assets of the applicable Subaccounts.

96 

Charges Incurred for Change of Death Benefit Option Fee

The Company deducts from each participant’s account a maximum fee of $100 for each change of death benefit option. This charge is assessed through a redemption of units and recorded as Transfers for Policy benefits and terminations on the Statements of Changes in Net Assets of the applicable Subaccounts.

Transfer Charges

The Company deducts from each participant’s account a fee of $10 for each transfer between Subaccounts in excess of 12 transfers in any calendar year. This charge is assessed through a redemption of units and recorded as Transfers for Policy benefits and terminations on the Statements of Changes in Net Assets of the applicable Subaccounts.

Service Charge

The Company deducts from each participant’s account an amount equal to a maximum of $10 per month. This charge compensates the Company for certain administrative costs, is assessed through a redemption of units, and recorded as Policy maintenance charges on the Statements of Changes in Net Assets of the applicable Subaccounts.

Deductions for Assumption of Mortality and Expense Risks

The Company deducts an amount, computed and accrued daily, from each participant’s account equal to an annual rate that will not exceed 0.90% annually. Currently, the charge is 0.28% for Policy Years 1 through 20 and 0.10% thereafter. These charges compensate the Company for its assumption of certain mortality, death benefit and expense risks. The charges are recognized as Policy Maintenance Charges in the Statements of Changes of in Net Assets of the applicable Subaccount.

If the above charges prove insufficient to cover actual costs and assumed risks, the loss will be borne by the Company; conversely, if the amounts deducted prove more than sufficient, the excess will be a profit to the Company.

Expense Charges Applied to Premium

The Company deducts a maximum charge of 10% from each premium payment received. A maximum of 6.5% of this charge will be deducted as sales load to compensate the Company in part for sales and promotional expenses in connection with selling the policies. A maximum of 3.5% of this charge will be used to cover premium taxes and certain federal income tax obligations resulting from the receipt of premiums. This charge is netted with Proceeds from Units Sold on the Statements of Changes in Net Assets of the applicable Subaccounts.

Supplemental Benefit Charges

The Company deducts from each participant’s account an amount to pay for certain riders selected by the policy holder. This charge varies based on individual characteristics of the policy holder when the rider is added to the Policy and is recorded as Transfers for Policy Benefits and Terminations on the Statements of Changes in Net Assets of the applicable Subaccounts.

Related Party Transactions

Empower Funds, Inc., funds of which are underlying certain Subaccounts, is a registered investment company affiliated with the Company. Empower Capital Management, LLC (ECM), a wholly owned subsidiary of the Company, serves as investment adviser to Empower Funds, Inc. Fees are assessed against the average daily net assets of the portfolios of Empower Funds, Inc. to compensate ECM for investment advisory services.

97 

4. FINANCIAL HIGHLIGHTS

For each Subaccount, the accumulation units outstanding, net assets, investment income ratio, expense ratio (excluding expenses of the underlying funds), total return and accumulation unit fair values for each year or period ended December 31 are included on the following pages. The unit values in the Financial Highlights are calculated based on the net assets and accumulation units outstanding as of December 31 of each year presented and may differ from the unit value reflected on the Statements of Assets and Liabilities due to rounding.

The Expense Ratio represents the annualized policy expenses of the respective Subaccounts of the Separate Account, consisting of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to policy owner accounts through the redemption of units and expenses of the underlying fund have been excluded.

The Total Return amounts represent the total return for the periods indicated, including changes in the value of the underlying fund, and expenses assessed through the reduction of unit values. These returns do not include any expenses assessed through the redemption of units. Subaccounts with a date notation indicate the effective date that the investment option was available in the Separate Account. The total returns are calculated for each 12-month period indicated or from the effective date through the end of the reporting period and are not annualized for periods less than one year. When a new Subaccount is added to the Separate Account, the calculation of the total return begins on the day it has investment activity during the period. Unit values and returns for bands or Subaccounts that had no operations activity during the reporting period are not shown.

The Investment Income Ratio represents the dividends, excluding distributions of capital gains, received by the Subaccount from the underlying mutual fund divided by average net assets during the period. It is not annualized for periods less than one year. The ratio excludes those expenses, such as mortality and expense charges, that result in direct reductions in the 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 Subaccount invest.

98 

	As of December 31						For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
Alger Small Cap Growth Portfolio
2022		2	$	208.47	$	390		0.00	%		0.00	%		(38.01	)%
2021		3		336.31		849		0.00	%		0.00	%		(6.06	)%
2020		21		358.01		737		1.12	%		0.00	%		67.18	%
2019		3		214.15		536		0.00	%		0.00	%		29.34	%
2018		3		165.57		455		0.00	%		0.00	%		1.44	%
American Century Investments VP Capital Appreciation Fund
2022		21		20.44		422		0.00	%		0.00	%		(28.11	)%
2021		19		28.43		532		0.00	%		0.00	%		11.16	%
2020		19		25.58		486		0.00	%		0.00	%		42.42	%
2019		19		17.96		347		0.00	%		0.00	%		35.56	%
2018		13		13.24		174		0.00	%		0.00	%		(5.20	)%
American Century Investments VP Inflation Protection Fund
2022		318		11.16		3,548		5.04	%		0.00	%		(13.08	)%
2021		287		12.84		3,681		3.11	%		0.00	%		6.27	%
2020		292		12.09		3,524		1.88	%		0.00	%		9.57	%
2019		68		11.03		754		2.34	%		0.00	%		8.90	%
2018		64		10.13		644		2.92	%		0.00	%		(2.82	)%
American Century Investments VP International Fund
2022		3		16.20		43		1.38	%		0.00	%		(24.75	)%
2021		3		21.54		71		0.16	%		0.00	%		8.75	%
2020		3		19.80		67		0.60	%		0.00	%		25.89	%
2019		4		15.73		59		0.89	%		0.00	%		28.42	%
2018		4		12.25		52		1.24	%		0.00	%		(15.22	)%
American Century Investments VP Mid Cap Value Fund
2022		102		15.00		1,526		2.23	%		0.00	%		(1.19	)%
2021		111		15.19		1,689		1.11	%		0.00	%		23.20	%
2020		133		12.33		1,641		2.97	%		0.00	%		1.19	%
2019		3		12.18		37		1.58	%		0.00	%		29.15	%
American Century Investments VP Ultra Fund
2022		3		51.55		167		0.00	%		0.00	%		(32.38	)%
2021		3		76.24		241		0.00	%		0.00	%		662.37	%

99 

	As of December 31								For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
American Century Investments VP Value Fund
2022		15		$	64.01	$	937			2.02	%		0.00	%		0.54	%
2021		24			63.66		1,544			1.74	%		0.00	%		24.51	%
2020		24			51.13		1,234			2.20	%		0.00	%		0.97	%
2019		24			50.64		1,202			2.12	%		0.00	%		27.03	%
2018		21			39.86		844			1.70	%		0.00	%		(9.15	)%
American Fund IS Growth and Income Fund
2022		0	*		14.14		0	*		1.28	%		0.00	%		(16.47	)%
2021		0	*		16.93		-			1.12	%		0.00	%		24.07	%
2020		0	*		13.65		3			1.46	%		0.00	%		13.55	%
American Funds IS Global Small Capitalization Fund
2022		3			18.39		56			0.00	%		0.00	%		(29.55	)%
2021		2			26.10		64			0.00	%		0.00	%		6.74	%
2020		8			24.46		201			0.18	%		0.00	%		29.74	%
2019		9			18.85		177			0.18	%		0.00	%		31.52	%
2018		9			14.33		126			0.09	%		0.00	%		(10.55	)%
American Funds IS Growth Fund
2022		70			41.55		2,896			0.32	%		0.00	%		(29.94	)%
2021		74			59.30		4,368			0.20	%		0.00	%		21.99	%
2020		95			48.61		4,622			0.32	%		0.00	%		52.10	%
2019		114			31.96		3,640			0.83	%		0.00	%		30.77	%
2018		98			24.44		2,394			0.44	%		0.00	%		(0.25	)%
American Funds IS International Fund
2022		113			13.71		1,548			1.62	%		0.00	%		(20.79	)%
2021		150			17.30		2,593			2.67	%		0.00	%		(1.50	)%
2020		64			17.57		1,132			0.77	%		0.00	%		14.00	%
2019		33			15.41		501			1.06	%		0.00	%		22.89	%
2018		117					1,469			1.68	%		0.00	%		(13.14	)%
American Funds IS New World Fund
2022		54			25.60		1,374			1.33	%		0.00	%		(22.10	)%
2021		52			32.86		1,722			0.77	%		0.00	%		4.92	%
2020		69			31.32		2,150			0.08	%		0.00	%		23.60	%
2019		64			25.34		1,633			0.94	%		0.00	%		29.14	%
2018		80			19.62		1,568			0.86	%		0.00	%		(14.04	)%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

100 

	As of December 31								For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
Blackrock 60/40 Target Allocation ETF VI Fund
2022		0	*	$	11.68	$	0	*		3.21	%		0.00	%		(15.03	)%
2021		-			13.75		-			5.30	%		0.00	%		37.50	%
Blackrock Global Allocation VI Fund
2022		179			13.98		2,503			0.00	%		0.00	%		(15.86	)%
2021		179			16.62		2,983			0.98	%		0.00	%		6.67	%
2020		10			15.58		158			1.56	%		0.00	%		20.96	%
2019		0	*		12.88		5			1.11	%		0.00	%		17.99	%
2018		2			10.91		21			0.99	%		0.00	%		(7.34	)%
Blackrock High Yield VI Fund
2022		65			10.63		693			5.37	%		0.00	%		(10.34	)%
2021		47			11.86		555			4.53	%		0.00	%		5.32	%
2020		3			11.26		30			0.00	%		0.00	%		7.30	%
BNY Mellon Stock Index Portfolio
2022		642			38.27		24,575			1.35	%		0.00	%		(18.32	)%
2021		669			46.86		31,356			1.11	%		0.00	%		28.41	%
2020		692			36.49		25,248			1.66	%		0.00	%		18.01	%
2019		988			30.92		30,559			1.72	%		0.00	%		31.18	%
2018		1,060			23.57		24,987			1.67	%		0.00	%		(4.64	)%
Clearbridge Variable Mid Cap Portfolio
2022		7			16.17		112			0.35	%		0.00	%		(25.31	)%
2021		6			21.64		123			0.02	%		0.00	%		28.71	%
2020		9			16.82		155			0.31	%		0.00	%		15.34	%
2019		8			14.58		121			0.85	%		0.00	%		32.95	%
2018		4			10.96		48			0.65	%		0.00	%		(12.52	)%
Clearbridge Variable Small Cap Growth Portfolio
2022		19			21.21		409			0.00	%		0.00	%		(28.85	)%
2021		17			29.81		492			0.00	%		0.00	%		12.61	%
2020		18			26.47		489			0.00	%		0.00	%		43.26	%
2019		11			18.48		211			0.00	%		0.00	%		26.87	%
2018		4			14.56		53			0.00	%		0.00	%		3.44	%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

101 

	As of December 31								For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
Columbia Variable Portfolio - Small Cap Value Fund
2022		3		$	42.08	$	116			0.11	%		0.00	%		(8.69	)%
2021		6			46.08		281			0.68	%		0.00	%		29.19	%
2020		7			35.67		154			0.74	%		0.00	%		8.79	%
2019		4			32.79		141			0.64	%		0.00	%		21.34	%
2018		2			27.02		56			0.41	%		0.00	%		(18.01	)%
Davis Financial Portfolio
2022		10			30.92		321			2.27	%		0.00	%		(8.53	)%
2021		8			33.80		275			3.43	%		0.00	%		30.54	%
2020		1			25.89		37			1.57	%		0.00	%		(5.99	)%
2019		2			27.54		58			1.57	%		0.00	%		25.86	%
2018		2			21.88		41			1.35	%		0.00	%		(10.67	)%
Davis Value Portfolio
2022		4			30.07		127			1.29	%		0.00	%		(20.13	)%
2021		4			37.64		162			0.60	%		0.00	%		17.85	%
2020		4			31.94		139			0.81	%		0.00	%		11.73	%
2019		4			28.59		127			1.65	%		0.00	%		31.16	%
2018		5			21.80		98			0.87	%		0.00	%		(13.60	)%
Delaware VIP International Series
2022		7			8.99		60			0.88	%		0.00	%		(17.37	)%
2021		18			10.88		191			0.91	%		0.00	%		6.87	%
2020		18			10.18		183			0.00	%		0.00	%		1.81	%
2019		3			12.52		40			0.01	%		0.00	%		19.31	%
2018		0	*		11.14		0	*		0.00	%		0.00	%		(17.64	)%
Delaware VIP Small Cap Value Series
2022		30			17.43		522			0.44	%		0.00	%		(12.36	)%
2021		35			19.88		700			0.59	%		0.00	%		34.01	%
2020		25			14.84		369			1.10	%		0.00	%		(2.19	)%
2019		9			15.17		142			0.90	%		0.00	%		27.72	%
2018		3			11.88		32			0.61	%		0.00	%		(16.95	)%
DFA VIT Inflation-Protected Securities
2022		17			9.23		157			12.34	%		0.00	%		(7.71	)%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

102 

	As of December 31								For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
DWS Core Equity VIP
2022		0	*	$	34.25	$	0	*		0.59	%		0.00	%		(15.88	)%
DWS Croci® U.S. VIP
2022		-			18.07		-			0.00	%		0.00	%		(15.40	)%
2021		-			-		-			0.00	%		0.00	%		0.00	%
2020		8			16.86		143			2.02	%		0.00	%		(12.14	)%
2019		15			19.19		285			1.97	%		0.00	%		32.95	%
2018		19			14.44		281			2.62	%		0.00	%		(10.50	)%
DWS High Income VIP
2022		11			20.86		231			5.23	%		0.00	%		(8.88	)%
2021		10			22.89		233			3.47	%		0.00	%		4.00	%
2020		8			22.01		168			5.16	%		0.00	%		6.22	%
2019		6			20.72		119			6.03	%		0.00	%		15.69	%
2018		4			17.91		65			8.15	%		0.00	%		(2.52	)%
DWS Small Cap Index VIP
2022		258			29.52		7,629			0.91	%		0.00	%		(20.64	)%
2021		278			37.19		10,326			0.86	%		0.00	%		14.50	%
2020		265			32.48		8,594			1.30	%		0.00	%		19.42	%
2019		268			27.20		7,280			1.06	%		0.00	%		25.22	%
2018		272			21.72		5,913			0.95	%		0.00	%		(11.23	)%
DWS Small Mid Cap Value VIP
2022		45			29.44		1,335			0.85	%		0.00	%		(15.80	)%
2021		45			34.97		1,564			1.22	%		0.00	%		30.50	%
2020		49			26.80		1,322			1.61	%		0.00	%		(0.79	)%
2019		65			27.01		1,768			0.72	%		0.00	%		21.51	%
2018		70			22.23		1,556			1.37	%		0.00	%		(16.01	)%
Eaton Vance Vt Floating-Rate Income Fund
2022		115			11.98		1,383			4.65	%		0.00	%		(2.74	)%
2021		114			12.32		1,405			2.89	%		0.00	%		3.61	%
2020		6			11.89		74			0.27	%		0.00	%		2.02	%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

103 

	As of December 31						For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
Empower Aggressive Profile Fund
2022		38	$	14.47	$	556		1.31	%		0.00	%		(15.17	)%
2021		39		17.05		673		5.96	%		0.00	%		19.49	%
2020		43		14.27		618		1.71	%		0.00	%		12.03	%
2019		44		12.74		566		1.29	%		0.00	%		26.10	%
2018		107		10.11		1,084		2.98	%		0.00	%		(10.41	)%
Empower Ariel Mid Cap Value Fund
2022		3		66.65		178		5.05	%		0.00	%		(12.94	)%
2021		3		76.56		219		2.18	%		0.00	%		26.13	%
2020		6		60.70		345		2.85	%		0.00	%		9.09	%
2019		5		55.64		262		1.32	%		0.00	%		24.32	%
2018		4		44.76		197		0.69	%		0.00	%		(14.40	)%
Empower Bond Index Fund
2022		249		13.88		3,453		1.16	%		0.00	%		(13.68	)%
2021		236		16.08		3,793		0.80	%		0.00	%		(2.39	)%
2020		235		16.47		3,872		1.81	%		0.00	%		7.18	%
2019		155		15.37		2,378		1.08	%		0.00	%		8.09	%
2018		139		14.22		1,976		1.33	%		0.00	%		(0.41	)%
Empower Conservative Profile Fund
2022		97		11.67		1,134		1.97	%		0.00	%		(9.93	)%
2021		61		12.96		787		2.21	%		0.00	%		6.35	%
2020		90		12.19		1,096		2.14	%		0.00	%		8.22	%
2019		97		11.26		1,087		1.72	%		0.00	%		11.54	%
2018		78		10.10		792		8.65	%		0.00	%		(3.15	)%
Empower Core Bond Fund
2022		9		14.25		123		0.63	%		0.00	%		(14.70	)%
2021		164		16.71		2,744		0.78	%		0.00	%		(1.55	)%
2020		164		16.97		2,776		2.80	%		0.00	%		8.04	%
2019		162		15.71		2,541		2.43	%		0.00	%		9.19	%
2018		166		14.39		2,394		2.39	%		0.00	%		(1.21	)%
Empower Emerging Markets Equity Fund
2022		7		8.90		61		0.76	%		0.00	%		(22.34	)%
2021		14		11.46		164		1.93	%		0.00	%		(4.43	)%
2020		8		12.00		96		9.53	%		0.00	%		19.59	%
2019		-		10.03		3		0.98	%		0.00	%		21.67	%
2018		-		8.24		2		0.82	%		0.00	%		(17.55	)%

104 

	As of December 31								For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
Empower Global Bond Fund
2022		111		$	12.43	$	1,386			0.80	%		0.00	%		(14.65	)%
2021		95			14.56		1,386			0.80	%		0.00	%		(6.46	)%
2020		109			15.57		1,696			1.02	%		0.00	%		5.35	%
2019		182			14.78		2,696			3.22	%		0.00	%		4.07	%
2018		336			14.20		4,773			2.55	%		0.00	%		(0.27	)%
Empower Government Money Market Fund
2022		2,396			13.68		32,781			1.37	%		0.00	%		1.22	%
2021		1,526			13.52		20,623			0.01	%		0.00	%		0.01.	%
2020		1,744			13.52		23,577			0.23	%		0.00	%		0.28	%
2019		1,054			13.48		14,207			1.72	%		0.00	%		1.76	%
2018		656			13.25		8,692			1.37	%		0.00	%		1.39	%
Empower Inflation- Protected Securities Fund
2022		0	*		10.87		0	*		0.00	%		0.00	%		(8.92	)%
2021		73			11.93		869			2.49	%		0.00	%		4.76	%
2020		58			11.39		660			0.00	%		0.00	%		7.57	%
Empower International Index Fund
2022		330			13.73		4,531			1.77	%		0.00	%		(14.74	)%
2021		317			16.10		5,105			2.21	%		0.00	%		10.75	%
2020		225			14.54		3,267			17.50	%		0.00	%		7.52	%
2019		0	*		13.54		1			0.50	%		0.00	%		21.25	%
2018		5			11.15		54			2.16	%		0.00	%		(13.84	)%
Empower International Value Fund
2022		438			14.63		6,403			1.21	%		0.00	%		(15.18	)%
2021		441			17.25		7,603			2.06	%		0.00	%		10.83	%
2020		340			15.56		5,286			1.06	%		0.00	%		9.76	%
2019		363			14.18		5,149			1.25	%		0.00	%		22.07	%
2018		436			11.62		5,064			1.55	%		0.00	%		(15.58	)%
Empower Large Cap Growth Fund
2022		8			56.42		428			0.39	%		0.00	%		(23.16	)%
2021		5			73.42		341			1.00	%		0.00	%		20.84	%
2020		3			60.76		180			4.14	%		0.00	%		41.45	%
2019		0	*		42.94		19			0.09	%		0.00	%		36.21	%
2018		7			31.53		207			0.25	%		0.00	%		0.05	%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

105 

	As of December 31						For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
Empower Large Cap Value Fund Investor II Class Fund
2022		180	$	13.53	$	2,438		1.67	%		0.00	%		(3.41	)%
2021		200		14.01		2,804		1.14	%		0.00	%		26.15	%
2020		216		11.11		2,403		1.26	%		0.00	%		3.90	%
2019		228		10.69		2,436		0.60	%		0.00	%		6.91	%
Empower Lifetime 2015 Fund
2022		42		13.48		566		1.39	%		0.00	%		(12.27	)%
2021		78		15.36		1,204		1.84	%		0.00	%		8.48	%
2020		115		14.16		1,625		1.99	%		0.00	%		10.98	%
2019		108		12.76		1,381		1.35	%		0.00	%		15.17	%
2018		149		11.08		1,647		2.48	%		0.00	%		(4.41	)%
Empower Lifetime 2020 Fund
2022		46		13.80		640		2.06	%		0.00	%		(12.95	)%
2021		46		15.85		722		2.29	%		0.00	%		9.17	%
2020		47		14.52		675		2.33	%		0.00	%		11.29	%
2019		38		13.05		492		1.84	%		0.00	%		16.44	%
2018		40		11.20		444		2.91	%		0.00	%		(4.95	)%
Empower Lifetime 2025 Fund
2022		536		14.21		7,624		1.83	%		0.00	%		(13.83	)%
2021		347		16.49		5,724		2.29	%		0.00	%		10.16	%
2020		317		14.97		4,743		2.33	%		0.00	%		12.24	%
2019		305		13.34		4,074		1.84	%		0.00	%		18.01	%
2018		191		11.30		2,159		2.91	%		0.00	%		(5.74	)%
Empower Lifetime 2030 Fund
2022		192		14.80		2,839		1.94	%		0.00	%		(14.62	)%
2021		170		17.34		2,942		2.57	%		0.00	%		11.60	%
2020		153		15.54		2,377		2.38	%		0.00	%		12.59	%
2019		119		13.80		1,637		2.07	%		0.00	%		20.01	%
2018		105		11.50		1,211		2.91	%		0.00	%		(6.73	)%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

106 

	As of December 31								For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
Empower Lifetime 2035 Fund
2022		142		$	15.31	$	2,169			1.59	%		0.00	%		(15.62	)%
2021		114			18.15		2,074			2.39	%		0.00	%		13.46	%
2020		110			15.99		1,757			2.31	%		0.00	%		13.27	%
2019		89			14.12		1,250			1.50	%		0.00	%		22.17	%
2018		134			11.55		1,549			2.30	%		0.00	%		(7.86	)%
Empower Lifetime 2040 Fund
2022		108			15.83		1,710			1.78	%		0.00	%		(16.30	)%
2021		91			18.91		1,725			2.95	%		0.00	%		15.11	%
2020		87			16.43		1,424			2.85	%		0.00	%		13.61	%
2019		53			14.46		771			1.95	%		0.00	%		23.82	%
2018		50			11.68		580			2.75	%		0.00	%		(8.75	)%
Empower Lifetime 2045 Fund
2022		55			15.89		874			1.29	%		0.00	%		(16.82	)%
2021		55			19.10		1,058			2.37	%		0.00	%		16.02	%
2020		71			16.46		1,170			2.47	%		0.00	%		13.92	%
2019		47			14.45		675			1.58	%		0.00	%		24.59	%
2018		42			11.60		486			1.88	%		0.00	%		(9.36	)%
Empower Lifetime 2050 Fund
2022		29			16.04		464			1.76	%		0.00	%		(16.95	)%
2021		25			19.31		487			3.05	%		0.00	%		16.15	%
2020		25			16.63		415			2.33	%		0.00	%		13.96	%
2019		15			14.59		213			1.53	%		0.00	%		24.82	%
2018		20			11.69		228			2.77	%		0.00	%		(9.53	)%
Empower Lifetime 2055 Fund
2022		35			15.83		556			1.12	%		0.00	%		(17.13	)%
2021		23			19.10		435			2.17	%		0.00	%		16.10	%
2020		24			16.45		394			1.19	%		0.00	%		13.95	%
2019		34			14.44		485			2.24	%		0.00	%		24.69	%
2018		15			11.58		173			1.61	%		0.00	%		(9.74	)%
Empower Lifetime 2060 Fund
2022		0	*		11.78		0	*		2.92	%		0.00	%		(17.10	)%
2021		0	*		14.21		0	*		9.41	%		0.00	%		0.00	%
2020		-			12.26		-			0.00	%		0.00	%		0.00	%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

107 

	As of December 31						For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
Empower Mid Cap Value Fund
2022		25	$	15.98	$	392		0.61	%		0.00	%		(11.76	)%
2021		19		18.11		345		27.50	%		0.00	%		30.17	%
2020		8		13.91		105		0.92	%		0.00	%		(0.35	)%
2019		6		13.96		79		0.17	%		0.00	%		20.49	%
2018		7		11.58		81		4.81	%		0.00	%		(12.31	)%
Empower Moderate Profile Fund
2022		12		13.03		159		1.31	%		0.00	%		(12.02	)%
2021		6		14.81		93		3.03	%		0.00	%		11.98	%
2020		26		13.23		338		1.59	%		0.00	%		11.23	%
2019		26		11.89		311		2.04	%		0.00	%		17.52	%
2018		28		10.12		283		3.33	%		0.00	%		(6.29	)%
Empower Moderately Aggressive Profile Fund
2022		7		13.51		96		0.92	%		0.00	%		(13.09	)%
2021		2		15.54		30		4.87	%		0.00	%		14.25	%
2020		6		13.60		83		2.01	%		0.00	%		11.77	%
2019		9		12.17		109		1.69	%		0.00	%		20.35	%
2018		8		10.11		77		3.06	%		0.00	%		(7.63	)%
Empower Moderately Conservative Profile Fund
2022		204		12.33		2,518		1.74	%		0.00	%		(10.82	)%
2021		151		13.83		2,094		3.77	%		0.00	%		9.13	%
2020		111		12.67		1,401		1.78	%		0.00	%		9.52	%
2019		12		11.57		133		1.97	%		0.00	%		14.45	%
2018		9		10.10		87		2.97	%		0.00	%		(4.72	)%
Empower Multi- Sector Bond Fund
2022		6		41.41		236		2.31	%		0.00	%		(11.42	)%
2021		6		46.74		281		2.24	%		0.00	%		0.89	%
2020		9		46.33		403		2.88	%		0.00	%		9.09	%
2019		13		42.47		566		1.72	%		0.00	%		11.74	%
2018		13		38.01		507		2.44	%		0.00	%		(3.11	)%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

108 

	As of December 31								For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
Empower Real Estate Index Fund
2022		108		$	14.37	$	1,551			1.75	%		0.00	%		(26.40	)%
2021		97			19.53		1,899			0.66	%		0.00	%		44.31	%
2020		22			13.53		301			1.62	%		0.00	%		(11.57	)%
2019		18			15.30		269			0.95	%		0.00	%		22.40	%
2018		16			12.50		195			2.17	%		0.00	%		(4.85	)%
Empower S&P Mid Cap 400® Index Fund
2022		388			23.50		9,110			0.43	%		0.00	%		(13.55	)%
2021		428			27.18		11,622			1.51	%		0.00	%		24.01	%
2020		353			21.92		7,744			3.45	%		0.00	%		13.10	%
2019		84			19.38		1,621			0.32	%		0.00	%		25.49	%
2018		90			15.44		1,388			0.69	%		0.00	%		(11.57	)%
Empower S&P Small Cap 600® Index Fund
2022		45			19.44		866			0.52	%		0.00	%		(16.51	)%
2021		38			23.29		886			2.61	%		0.00	%		25.94	%
2020		25			18.49		469			2.82	%		0.00	%		10.93	%
2019		2			16.67		40			0.89	%		0.00	%		22.36	%
2018		1			12.92		14			1.20	%		0.00	%		(8.99	)%
Empower Short Duration Bond Fund
2022		227			14.89		3,384			1.28	%		0.00	%		(4.25	)%
2021		425			15.55		6,603			1.04	%		0.00	%		(0.03	)%
2020		447			15.55		6,957			1.96	%		0.00	%		4.65	%
2019		534			14.86		7,942			2.07	%		0.00	%		5.40	%
2018		542			14.10		7,645			1.83	%		0.00	%		0.63	%
Empower Small Cap Growth Fund
2022		0	*		19.93		0	*		0.33	%		0.00	%		(25.36	)%
2021		0	*		-		0	*		20.96	%		0.00	%		0.00	%
Empower Small Cap Value Fund
2022		19			53.09		1,030			0.06	%		0.00	%		(10.03	)%
2021		21			59.01		1,215			3.35	%		0.00	%		30.67	%
2020		23			45.16		1,032			0.00	%		0.00	%		3.20	%
2019		22			43.76		980			0.00	%		0.00	%		24.67	%
2018		22			35.10		756			0.00	%		0.00	%		(16.20	)%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

109 

	As of December 31						For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
Empower T. Rowe Price Mid Cap Growth Fund
2022		33	$	61.29	$	2,052		0.02	%		0.00	%		(22.79	)%
2021		36		79.38		2,860		0.18	%		0.00	%		14.83	%
2020		42		69.13		2,882		0.00	%		0.00	%		24.10	%
2019		62		55.70		3,447		0.01	%		0.00	%		31.28	%
2018		89		42.43		3,763		0.09	%		0.00	%		(2.33	)%
Empower U.S. Government Securities Fund
2022		28		21.40		599		0.70	%		0.00	%		(12.08	)%
2021		159		24.34		3,859		0.66	%		0.00	%		(2.15	)%
2020		3,947		24.88		3,947		0.91	%		0.00	%		5.86	%
2019		140		23.50		3,279		1.55	%		0.00	%		6.12	%
2018		134		22.14		2,964		1.90	%		0.00	%		0.46	%
Federated Hermes High Income Bond Fund II
2022		5		33.06		154		5.56	%		0.00	%		(11.78	)%
2021		4		37.48		158		4.00	%		0.00	%		274.79	%
Federated Hermes Kaufmann Fund II
2022		5		32.92		162		0.00	%		0.00	%		(30.09	)%
2021		4		47.09		201		0.00	%		0.00	%		2.51	%
2020		6		45.93		262		0.00	%		0.00	%		28.81	%
2019		6		35.66		207		0.00	%		0.00	%		33.82	%
2018		5		26.65		144		0.00	%		0.00	%		3.84	%
Fidelity VIP Contrafund Portfolio
2022		25		52.52		1,328		0.29	%		0.00	%		(26.49	)%
2021		25		71.45		1,766		0.03	%		0.00	%		27.51	%
2020		35		56.03		1,949		0.04	%		0.00	%		30.22	%
2019		31		43.03		1,336		0.23	%		0.00	%		31.28	%
2018		81		32.78		2,660		0.44	%		0.00	%		(6.64	)%
Fidelity VIP Emerging Markets Portfolio
2022		147		10.95		1,612		1.56	%		0.00	%		(20.37	)%
2021		143		13.75		1,970		2.11	%		0.00	%		(2.41	)%
2020		7		14.09		104		0.00	%		0.00	%		30.88	%

110 

	As of December 31							For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
Fidelity VIP Growth Portfolio
2022		1		$	41.30	$	34		0.33	%		0.00	%		(24.63	)%
2021		1			54.80		53		0.00	%		0.00	%		22.88	%
2020		1			44.59		48		0.05	%		0.00	%		43.53	%
2019		36			31.07		1,109		0.05	%		0.00	%		33.98	%
2018		32			23.19		739		0.03	%		0.00	%		(0.43	)%
Fidelity VIP Index 500 Portfolio
2022		601			9.38		5,638		1.49	%		0.00	%		(18.21	)%
2021		522			11.47		5,988		0.00	%		0.00	%		14.68	%
Fidelity VIP Investment Grade Bond Portfolio
2022		8			22.13		173		2.04	%		0.00	%		(13.21	)%
2021		11			25.50		282		1.82	%		0.00	%		(0.90	)%
2020		15			25.73		394		2.21	%		0.00	%		9.16	%
2019		16			23.57		370		2.54	%		0.00	%		9.40	%
2018		13			21.54		280		2.33	%		0.00	%		(0.79	)%
Fidelity VIP Mid Cap Portfolio
2022		4			72.65		308		0.26	%		0.00	%		(14.97	)%
2021		5			85.44		406		0.37	%		0.00	%		25.31	%
2020		8			68.18		519		0.36	%		0.00	%		17.86	%
2019		13			57.85		759		56.00	%		0.00	%		23.17	%
2018		19			46.96		885		0.42	%		0.00	%		(14.77	)%
Goldman Sachs VIT Mid Cap Value Fund
2022		4			23.05		89		0.71	%		0.00	%		(9.99	)%
2021		4			25.60		98		0.49	%		0.00	%		30.95	%
2020		4			19.55		76		0.68	%		0.00	%		8.38	%
2019		6			18.04		103		0.78	%		0.00	%		31.52	%
2018		3			13.71		45		1.57	%		0.00	%		(10.46	)%
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio
2022		0	*		11.38		6		2.42	%		0.00	%		(6.54	)%
2021		1			12.17		9		1.47	%		0.00	%		4.84	%
2020		1			11.61		9		2.58	%		0.00	%		6.72	%
2019		1			10.87		5		2.67	%		0.00	%		8.82	%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

111 

	As of December 31						For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
Invesco Oppenheimer V.I. Main Street Small Cap Fund
2022		29	$	17.68	$	515		0.53	%		0.00	%		(15.83	)%
2021		28		21.01		586		0.34	%		0.00	%		22.55	%
2020		346		17.14		346		0.76	%		0.00	%		19.89	%
2019		33		14.30		471		0.25	%		0.00	%		26.47	%
2018		81		11.30		913		0.34	%		0.00	%		(10.32	)%
Invesco V.I. Core Equity Fund											0.00	%
2022		1		31.82		16		0.96	%		0.00	%		(20.54	)%
2021		1		40.04		26		0.64	%		0.00	%		27.74	%
2020		25		31.35		25		1.44	%		0.00	%		13.87	%
2019		1		27.53		22		0.94	%		0.00	%		28.96	%
2018		1		21.35		19		0.91	%		0.00	%		(9.40	)%
Invesco V.I. Global Real Estate Fund
2022		27		37.59		1,002		2.93	%		0.00	%		(24.94	)%
2021		27		50.08		1,364		2.38	%		0.00	%		25.71	%
2020		1,418		39.83		1,418		5.94	%		0.00	%		(12.32	)%
2019		27		45.43		1,224		4.23	%		0.00	%		23.00	%
2018		40		36.93		1,471		3.70	%		0.00	%		(6.15	)%
Invesco V.I. Health Care Fund
2022		1		45.37		39		0.00	%		0.00	%		(13.30	)%
2021		1		52.34		47		0.24	%		0.00	%		12.28	%
2020		71		46.61		58		0.35	%		0.00	%		14.44	%
2019		2		40.73		64		0.03	%		0.00	%		32.50	%
2018		3		30.73		81		0.00	%		0.00	%		0.91	%
Invesco V.I. International Growth Fund
2022		131		19.32		2,537		1.76	%		0.00	%		(18.31	)%
2021		135		23.65		3,201		1.14	%		0.00	%		5.89	%
2020		175		22.34		3,913		2.55	%		0.00	%		13.98	%
2019		193		19.60		3,789		1.61	%		0.00	%		28.57	%
2018		203		15.24		3,100		2.18	%		0.00	%		(14.97	)%

112 

	As of December 31							For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
Invesco V.I. Mid Cap Core Equity Fund
2022		-	$	32.58	$	0	*		0.00	%		0.00	%		(14.26	)%
2021		14		38.00		515			0.46	%		0.00	%		23.24	%
2020		13		30.84		395			0.87	%		0.00	%		9.27	%
2019		9		28.22		247			0.51	%		0.00	%		25.28	%
2018		9		22.53		196			0.57	%		0.00	%		(11.35	)%
Invesco V.I. Technology Fund
2021		-		-		-			0.00	%		0.00	%		0.00	%
2020		3		48.87		129			0.00	%		0.00	%		46.10	%
2019		3		33.45		94			0.00	%		0.00	%		35.88	%
2018		5		24.62		129			0.00	%		0.00	%		(0.45	)%
Janus Henderson VIT Balanced Portfolio
2022		66		42.46		2,787			1.29	%		0.00	%		(16.40	)%
2021		61		50.79		3,082			0.87	%		0.00	%		17.20	%
2020		79		43.34		3,426			2.68	%		0.00	%		14.32	%
2019		71		37.91		2,698			2.00	%		0.00	%		22.59	%
2018		71		30.93		2,200			2.09	%		0.00	%		0.68	%
Janus Henderson VIT Enterprise Portfolio
2022		33		18.47		602			0.18	%		0.00	%		(15.94	)%
2021		33		21.98		725			0.36	%		0.00	%		16.83	%
2020		41		18.81		776			0.13	%		0.00	%		19.50	%
2019		39		15.74		611			0.13	%		0.00	%		35.48	%
Janus Henderson VIT Flexible Bond Portfolio
2022		89		27.28		2,430			2.44	%		0.00	%		(13.66	)%
2021		93		31.60		2,936			2.00	%		0.00	%		(0.90	)%
2020		87		31.88		2,760			3.27	%		0.00	%		10.48	%
2019		64		28.86		1,853			3.61	%		0.00	%		9.57	%
2018		69		26.34		1,805			3.63	%		0.00	%		(1.00	)%
Janus Henderson VIT Forty Portfolio
2022		18		71.09		1,262			0.19	%		0.00	%		(33.55	)%
2021		17		106.99		1,823			0.00	%		0.00	%		22.90	%
2020		32		87.05		2,763			0.80	%		0.00	%		39.40	%
2019		41		62.45		2,541			0.16	%		0.00	%		37.16	%
2018		50		45.53		2,257			1.39	%		0.00	%		1.98	%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

113 

	As of December 31								For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
Janus Henderson VIT Global Research Portfolio
2022		7		$	19.06	$	124			1.05	%		0.00	%		(19.41	)%
2021		7			23.65		171			0.41	%		0.00	%		18.09	%
2020		16			20.03		319			0.70	%		0.00	%		20.08	%
2019		44			16.68		734			0.95	%		0.00	%		29.04	%
2018		59			12.93		757			1.15	%		0.00	%		(6.87	)%
Janus Henderson VIT Global Technology and Innovation Portfolio
2022		25			68.73		1,698			0.00	%		0.00	%		(36.95	)%
2021		27			109.01		2,989			0.22	%		0.00	%		18.01	%
2020		25			92.37		2,347			0.00	%		0.00	%		51.18	%
2019		29			61.10		1,764			0.41	%		0.00	%		45.17	%
2018		22			42.08		922			1.00	%		0.00	%		1.19	%
Janus Henderson VIT Overseas Portfolio
2022		2			37.91		71			1.78	%		0.00	%		(8.60	)%
2021		2			41.48		79			1.16	%		0.00	%		13.58	%
2020		2			36.52		70			1.50	%		0.00	%		16.28	%
2019		2			31.41		62			1.92	%		0.00	%		27.02	%
2018		2			24.73		49			1.76	%		0.00	%		(14.94	)%
JP Morgan Insurance Trust Small Cap Core Portfolio
2022		0	*		15.69		0	*		0.31	%		0.00	%		(20.28	)%
JP Morgan Insurance Trust US Equity Portfolio
2022		0	*		18.40		0	*		0.37	%		0.00	%		(19.19	)%
Lord Abbett Series Developing Growth Portfolio
2022		8			16.48		126			0.00	%		0.00	%		(35.98	)%
2021		9			25.75		242			0.00	%		0.00	%		(2.75	)%
2020		8			26.47		222			0.00	%		0.00	%		72.57	%
2019		9			15.34		131			0.00	%		0.00	%		31.77	%
2018		7			11.64		81			0.00	%		0.00	%		4.88	%
Lord Abbett Series Total Return Portfolio
2022		5			10.10		54			2.55	%		0.00	%		(14.05	)%
2021		2			11.75		20			1.97	%		0.00	%		(0.24	)%
2020		2			11.77		21			3.76	%		0.00	%		7.43	%
2019		1			10.97		7			3.00	%		0.00	%		8.41	%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

114 

	As of December 31							For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
MFS VIT Growth Series
2022		1		$	14.90	$	8		0.00	%		0.00	%		(31.64	)%
2021		1			21.80		21		0.00	%		0.00	%		23.53	%
2020		1			17.65		18		0.00	%		0.00	%		31.90	%
2019		1			13.38		9		0.00	%		0.00	%		38.15	%
MFS VIT II International Growth Portfolio
2022		173			11.60		2,009		0.62	%		0.00	%		(14.95	)%
2021		169			13.64		2,305		0.48	%		0.00	%		9.27	%
2020		38			12.48		470		0.00	%		0.00	%		15.84	%
MFS VIT III Blended Research Small Cap Equity Portfolio
2022		1			14.40		9		0.78	%		0.00	%		(18.37	)%
2021		1			17.64		14		0.84	%		0.00	%		29.64	%
2020		1			13.60		16		1.31	%		0.00	%		2.23	%
2019		-			13.30		6		0.66	%		0.00	%		26.77	%
MFS VIT III Global Real Estate Portfolio
2022		18			12.86		228		1.64	%		0.00	%		(26.94	)%
2021		13			17.60		232		0.91	%		0.00	%		30.12	%
2020		3			13.52		35		0.00	%		0.00	%		1.49	%
MFS VIT III Mid Cap Value Portfolio
2022		4			15.83		61		1.03	%		0.00	%		(8.79	)%
2021		3			17.35		54		0.88	%		0.00	%		30.99	%
2020		0	*		13.25		6		1.99	%		0.00	%		3.87	%
2019		0	*		12.76		3		1.42	%		0.00	%		31.11	%
2018		0	*		9.71		2		0.00	%		0.00	%		(11.45	)%
MFS VIT Mid Cap Growth Series
2022		26			17.99		465		0.00	%		0.00	%		(28.70	)%
2021		38			25.23		954		0.00	%		0.00	%		14.11	%
2020		22			22.11		482		0.00	%		0.00	%		36.48	%
MFS VIT Research Series
2022		2			20.06		36		0.52	%		0.00	%		(17.21	)%
2021		3			24.23		76		0.54	%		0.00	%		24.80	%
2020		3			19.41		64		0.84	%		0.00	%		16.59	%
2019		3			16.65		54		0.68	%		0.00	%		32.95	%
2018		-			-		-		0.00	%		0.00	%		0.00	%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

115 

	As of December 31								For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
MFS VIT Total Return Bond Series
2022		266		$	10.34	$	2,749			2.77	%		0.00	%		(13.93	)%
2021		272			12.01		3,266			2.23	%		0.00	%		(0.81	)%
2020		359			12.11		4,348			3.69	%		0.00	%		8.52	%
2019		379			11.16		4,228			4.05	%		0.00	%		10.21	%
2018		90			10.13		908			3.33	%		0.00	%		(1.08	)%
MFS VIT Value Series
2022		66			18.63		1,228			1.31	%		0.00	%		(5.91	)%
2021		78			19.80		1,548			1.28	%		0.00	%		25.45	%
2020		33			15.78		520			1.69	%		0.00	%		3.48	%
2019		29			15.25		436			2.34	%		0.00	%		29.80	%
2018		30			11.75		356			1.61	%		0.00	%		(10.09	)%
Neuberger Berman AMT Mid Cap Growth Portfolio
2022		0	*		33.73		11			0.00	%		0.00	%		(28.73	)%
2021		0	*		47.33		18			0.00	%		0.00	%		12.99	%
2020		0	*		41.89		16			0.00	%		0.00	%		39.98	%
2019		0	*		29.94		15			0.00	%		0.00	%		32.75	%
2018		1			22.55		13			0.00	%		0.00	%		(6.41	)%
Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio
2022		-			30.13		0	*		0.00	%		0.00	%		(9.75	)%
2021		2			33.38		78			0.61	%		0.00	%		32.80	%
2020		8			25.14		208			1.15	%		0.00	%		(2.61	)%
2019		3			25.81		65			0.21	%		0.00	%		16.75	%
2018		32			22.11		714			0.63	%		0.00	%		(15.28	)%
Neuberger Berman AMT Sustainable Equity Portfolio
2022		2			47.58		76			0.43	%		0.00	%		(18.45	)%
2021		2			58.35		88			0.42	%		0.00	%		23.48	%
2020		3			47.25		150			0.69	%		0.00	%		19.57	%
2019		3			39.52		125			0.63	%		0.00	%		25.88	%
2018		2			31.40		77			0.49	%		0.00	%		(5.72	)%
Pimco VIT Commodity Real Return Strategy Portfolio
2022		5			14.89		73			20.97	%		0.00	%		8.61	%
2021		4			13.71		51			3.15	%		0.00	%		37.05	%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

116 

	As of December 31						For the period ended December 31
Subaccount	Units (000's)		Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
Pimco VIT Global Bond Opportunities Portfolio (Unhedged)
2022		174	$	10.02	$	1,743		1.49	%		0.00	%		(11.00	)%
2021		190		11.26		2,136		5.18	%		0.00	%		(4.16	)%
2020		27		11.75		318		2.69	%		0.00	%		10.13	%
2019		1		10.67		5		2.03	%		0.00	%		6.14	%
Pimco VIT High Yield Portfolio
2022		37		26.43		979		5.06	%		0.00	%		(10.28	)%
2021		38		29.46		1,114		4.48	%		0.00	%		3.63	%
2020		11		28.43		313		5.30	%		0.00	%		5.76	%
2019		8		26.88		219		4.94	%		0.00	%		14.73	%
2018		8		23.43		180		5.08	%		0.00	%		(2.65	)%
Pimco VIT Low Duration Portfolio
2022		291		15.18		4,423		1.52	%		0.00	%		(5.74	)%
2021		532		16.11		8,568		0.52	%		0.00	%		(0.93	)%
2020		510		16.26		8,296		1.30	%		0.00	%		2.96	%
2019		509		15.79		8,037		2.76	%		0.00	%		4.03	%
2018		404		15.17		6,123		1.93	%		0.00	%		0.34	%
Pimco VIT Real Return Portfolio
2022		46		19.44		898		7.05	%		0.00	%		(11.90	)%
2021		55		22.07		1,224		5.08	%		0.00	%		5.59	%
2020		24		20.90		499		1.53	%		0.00	%		11.73	%
2019		22		18.71		418		1.64	%		0.00	%		8.44	%
2018		30		17.26		510		2.26	%		0.00	%		(2.21	)%
Pimco VIT Total Return Portfolio
2022		366		19.47		7,134		2.62	%		0.00	%		(14.30	)%
2021		367		22.72		8,347		1.83	%		0.00	%		(1.27	)%
2020		209		23.01		4,803		2.31	%		0.00	%		8.62	%
2019		198		21.18		4,202		3.01	%		0.00	%		8.35	%
2018		181		19.54		3,545		2.54	%		0.00	%		(0.53	)%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

117 

	As of December 31							For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
Pioneer Real Estate Shares VCT Portfolio
2022		12		$	11.52	$	139		1.92	%		0.00	%		(30.84	)%
2021		18			16.66		305		1.39	%		0.00	%		41.05	%
2020		6			11.81		75		1.88	%		0.00	%		(7.34	)%
2019		6			12.75		71		2.32	%		0.00	%		28.17	%
2018		5			9.95		49		2.89	%		0.00	%		(7.24	)%
Putnam VT Equity Income Fund
2022		28			56.51		1,558		1.72	%		0.00	%		(2.87	)%
2021		19			58.18		1,100		1.28	%		0.00	%		27.62	%
2020		19			45.59		879		1.89	%		0.00	%		6.07	%
2019		12			42.98		529		1.77	%		0.00	%		30.73	%
2018		10			32.88		341		0.89	%		0.00	%		(8.27	)%
Putnam VT Global Asset Allocation Fund
2022		0	*		14.12		6		1.78	%		0.00	%		(15.82	)%
2021		1			16.78		15		0.92	%		0.00	%		14.25	%
2020		1			14.68		14		1.34	%		0.00	%		12.58	%
2019		0	*		13.05		5		0.00	%		0.00	%		17.41	%
Putnam VT Global Equity Fund
2022		10			13.60		142		2.04	%		0.00	%		(17.99	)%
2021		12			16.59		198		1.05	%		0.00	%		12.84	%
2020		2			14.70		28		0.45	%		0.00	%		10.29	%
2019		2			13.33		33		0.00	%		0.00	%		26.92	%
Putnam VT Growth Opportunities Fund
2022		10			22.95		240		0.00	%		0.00	%		(30.36	)%
2021		31			32.96		1,016		0.00	%		0.00	%		23.00	%
2020		62			26.79		1,666		0.15	%		0.00	%		39.09	%
2019		0	*		19.25		6		0.00	%		0.00	%		37.12	%
Putnam VT High Yield Fund
2022		4			25.37		93		5.58	%		0.00	%		(11.37	)%
2021		5			28.63		134		6.92	%		0.00	%		5.20	%
2020		24			27.21		659		6.33	%		0.00	%		5.52	%
2019		23			25.79		598		5.99	%		0.00	%		14.55	%
2018		32			22.52		722		6.17	%		0.00	%		(3.59	)%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

118 

	As of December 31							For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)		Investment Income Ratio			Expense Ratio			Total Return
Putnam VT Income Fund
2022		6		$	10.35	$	66		5.48	%		0.00	%		(13.81	)%
2021		6			12.00		66		1.54	%		0.00	%		(4.59	)%
2020		1			12.58		9		10.14	%		0.00	%		5.72	%
2019		54			11.90		638		3.45	%		0.00	%		11.90	%
2018		13			10.63		135		2.96	%		0.00	%		0.20	%
Putnam VT International Value Fund
2022		59			14.21		840		2.24	%		0.00	%		(6.70	)%
2021		39			15.22		595		1.26	%		0.00	%		15.28	%
2020		19			13.21		247		0.00	%		0.00	%		4.23	%
Putnam VT Research Fund
2022		30			20.56		627		0.81	%		0.00	%		(17.10	)%
2021		27			24.80		658		0.30	%		0.00	%		24.46	%
2020		0	*		19.93		-		0.00	%		0.00	%		0.00	%
Putnam VT Small Cap Value Fund
2022		0	*		16.50		6		0.38	%		0.00	%		(12.80	)%
2021		-			18.92		5		0.87	%		0.00	%		40.23	%
2020		-			13.49		4		1.42	%		0.00	%		4.23	%
2019		-			12.99		2		0.30	%		0.00	%		24.52	%
2018		8			10.39		78		0.63	%		0.00	%		(19.69	)%
Putnam VT Sustainable Future Fund
2022		4			47.64		202		0.00	%		0.00	%		(33.85	)%
2021		4			72.01		285		0.00	%		0.00	%		6.33	%
2020		4			67.72		240		0.36	%		0.00	%		52.98	%
2019		3			44.27		140		0.77	%		0.00	%		30.32	%
2018		3			33.97		88		0.90	%		0.00	%		(4.64	)%
Royce Capital Fund - Small-Cap Portfolio
2022		3			23.17		67		0.08	%		0.00	%		(9.41	)%
2021		3			25.58		76		1.07	%		0.00	%		28.44	%
2020		4			19.92		74		0.70	%		0.00	%		(7.33	)%
2019		8			21.49		162		0.18	%		0.00	%		18.43	%
2018		56			18.14		1,008		0.31	%		0.00	%		(8.50	)%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

119 

	As of December 31								For the period ended December 31
Subaccount	Units (000's)			Unit Fair Value		Net Assets (000's)			Investment Income Ratio			Expense Ratio			Total Return
T. Rowe Price Blue Chip Growth Portfolio Class II
2022		113		$	18.04	$	2,032			0.00	%		0.00	%		(38.66	)%
2021		128			29.40		3,776			0.00	%		0.00	%		17.33	%
2020		90			25.06		2,250			0.00	%		0.00	%		33.92	%
2019		114			18.71		2,133			0.00	%		0.00	%		29.58	%
2018		110			14.44		1,587			0.00	%		0.00	%		1.65	%
Van Eck VIP Emerging Markets Fund
2022		1			41.49		41			0.28	%		0.00	%		(24.37	)%
2021		1			54.87		55			0.93	%		0.00	%		(11.87	)%
2020		1			62.26		74			2.28	%		0.00	%		17.26	%
2019		1			53.09		61			0.43	%		0.00	%		30.59	%
2018		1			40.67		46			0.28	%		0.00	%		(23.49	)%
Van Eck VIP Global Hard Assets Fund
2022		19			68.97		1,340			1.60	%		0.00	%		8.39	%
2021		22			63.63		1,381			0.36	%		0.00	%		18.92	%
2020		22			53.51		1,175			1.06	%		0.00	%		19.11	%
2019		23			44.92		1,012			0.00	%		0.00	%		11.87	%
2018		19			40.16		779			0.00	%		0.00	%		(28.28	)%
Vanguard VIF Global Bond Index
2022		83			8.75		729			2.45	%		0.00	%		(13.13	)%
2021		81			10.07		819			0.00	%		0.00	%		0.71	%
Vanguard VIF Total Bond Market Index
2022		188			8.76		1,643			2.09	%		0.00	%		(13.21	)%
2021		81			10.09		820			0.00	%		0.00	%		0.91	%
Victory RS Small Cap Growth Equity VIP
2022		0	*		9.51		0	*		0.00	%		0.00	%		(36.36	)%
2021		1			14.94		12			0.00	%		0.00	%		(10.43	)%
2020		14			16.67		14			0.00	%		0.00	%		38.04	%
2019		1			12.08		11			0.00	%		0.00	%		38.78	%
2018		1			8.71		6			0.00	%		0.00	%		(12.97	)%

*The Subaccount has units that round to less than 1,000 and/or net assets that are less than $1,000 dollars.

120 

5. SUBSEQUENT EVENTS

Management has reviewed all events subsequent to December 31, 2022, including the estimates inherent in the process of preparing these financial statements, through the date the financial statements were issued. No subsequent events requiring adjustments or disclosures have occurred. 

121