JNL/Mellon Emerging Markets Index A

Data Sources: Morningstar, Jackson National Asset Management, LLC, and Jackson.

This material is authorized for use only when preceded or accompanied by the current contract prospectus and underlying fund prospectuses. Before investing, investors should carefully consider the investment objectives, risks, charges, and expenses of the variable annuity and its underlying investment options. This and other important information are contained in the current contract prospectus and underlying fund prospectuses. Please read the prospectuses carefully before investing or sending money.

As with any investment in securities, variable annuities are subject to investment risks, including the possible loss of principal. Investor units will fluctuate with the performance of the underlying investments, and there may be a gain or loss upon redemption. All forms of securities may decline in value due to factors affecting securities markets generally, such as real or perceived adverse economic, political, or regulatory conditions, inflation, changes in interest or currency rates or adverse investor sentiment. Adverse market conditions may be prolonged and may not have the same impact on all types of securities. The values of securities may fall due to factors affecting a particular issuer, industry or the securities market as a whole.

The standardized performance information reflects past performance from the inclusion date of the underlying sub-account into the applicable separate account. All non-standardized performance information reflects hypothetical past performance that may include timeframes before the underlying sub-account was available within the applicable contract. The performance of a sub-account within a contract may differ from the performance of a sub-account within the applicable separate account because the contract has not been in existence for the life of the separate account. Please refer to the contract disclosure table for the establishment date of the separate account and offering dates of the contract.

This Sub-account invests in a Feeder Fund that in turn invests in a Master Fund. Please see the Prospectus for more details.

Investments in foreign currencies, securities that trade in or receive revenues in foreign currencies, or derivatives that provide exposure to foreign currencies are subject to the risk that those currencies may decline in value versus the U.S. dollar, reducing the value of those investments in this U.S. dollar based Fund.

Investing in emerging markets may involve greater risks than investing in developed countries, including the possibility of industry concentration, nationalization, taxes and transaction costs, lower trading volumes, and less liquid securities, resulting in higher volatility.

Investments in foreign securities are subject to potential adverse fluctuations in foreign currency values, less publicly available information, and the possible imposition of foreign withholding taxes on income payable on the securities. They may be more volatile and less liquid than U.S. markets.

An indexing strategy does not attempt to manage volatility, use defensive strategies, or reduce the effects of any long-term periods of poor stock performance. All indices referenced herein are unmanaged and not available for direct investment.

Investing according to specific, mechanical criteria applied on a specific date each year may prevent a Portfolio from responding to market fluctuations or changes in the financial condition or business prospects of the selected companies during the year.

Investments in securities that are difficult to purchase or sell (illiquid or thinly-traded securities) may reduce returns if the Fund is unable to sell the securities at advantageous times or prices. Illiquid securities may also be difficult to value.

The price of equity or equity-related securities will fluctuate and can decline and reduce the value of a portfolio investing in these securities.

Large capitalization stocks as a group could fall out of favor with the market, causing the fund to underperform funds that focus on other types of stocks.

Jackson National Asset Management, LLC (JNAM) is an investment adviser registered with the U.S. Securities and Exchange Commission and is the investment adviser to the "Funds," which are investment companies (subaccounts) that underlie the Jackson variable products. Nothing contained herein is investment advice nor a solicitation for investment advisory services. JNAM is an affiliate of Jackson National Life Distributors LLC and Jackson National Life Insurance Company.

Morningstar^® and Morningstar indices are trademarks or service marks of Morningstar, Inc. ("Morningstar") and have been licensed for use for certain purposes by Jackson National Asset Management, LLC in connection with certain series of JNL Series Trust (all such series, collectively, the "JNL Funds"). The JNL Funds are not sponsored, endorsed, sold or promoted by Morningstar, or any of its affiliated companies (all such entities, collectively, "Morningstar Entities"). The Morningstar Entities make no representation or warranty, express or implied, to the owners of the JNL Funds or any member of the public regarding the advisability of investing in the JNL Funds in particular or the ability of the Morningstar Indices to track general stock market performance. THE MORNINGSTAR ENTITIES DO NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE MORNINGSTAR INDICES OR ANY DATA INCLUDED THEREIN AND MORNINGSTAR ENTITIES SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN.

*Risk Measures: Alpha is a measure of the difference between a portfolio’s actual returns and its expected performance, given its level of risk measured by beta. Beta is a measure of a portfolio’s sensitivity to market movements. R-squared reflects the percentage of a portfolio’s movements that can be explained by movements in its benchmark. Sharpe Ratio is a risk-adjusted measure calculated by using standard deviation and excess return to determine rewards per unit of risk. Standard Deviation is a statistical measure of the volatility of the portfolio’s return.

**The Morningstar Emerging Markets Target Market Exposure Index is a rules based, float market capitalization-weighted index designed to cover 85% of the equity float-adjusted market capitalization of the Emerging Markets equity markets. This Index does not incorporate Environmental, Social, or Governance (ESG) criteria.

**The MSCI Emerging Markets Index captures large and mid cap representation across 26 Emerging Markets (EM) countries. With 1,404 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country.

**All indices referenced herein are unmanaged and not available for direct investment.

© 2025 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The Morningstar Rating^TM for funds, or "star rating", is calculated for sub-accounts whose underlying investments have at least a three-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. The three-, five-, and 10-year Morningstar Rating metrics are representative of short, medium, and long-term performance characteristics respectively. JNL/Mellon Emerging Markets Index was rated against the following number of U.S. domiciled Diversified Emerging Mkts funds over the following time periods: 696 funds in the last three years, 620 funds in the last five years, and 448 funds in the last ten years. With respect to these Diversified Emerging Mkts funds, JNL/Mellon Emerging Markets Index received a Morningstar Rating of 2 stars, 3 stars and 3 stars for the three-, five- and ten-year periods, respectively. Past performance is no guarantee of future results. The three-, five-, and 10-year Morningstar Rating metrics are representative of short, medium, and long-term performance characteristics respectively.

Some of Morningstar's proprietary calculations, including the Morningstar Rating^TM, are not customarily calculated based on adjusted historical returns. However, for new share classes/channels, Morningstar may calculate an extended performance Morningstar Rating. The extended performance is calculated by adjusting the historical total returns of the oldest share class of a fund to reflect the fee structure of the younger share class/channel, attaching this data to the younger share class' performance record, and then compounding the adjusted plus actual monthly returns into the extended performance Morningstar Risk-Adjusted Return for the three-, five-, and 10- year time periods. The Morningstar Risk-Adjusted Returns are used to determine the extended performance Morningstar Rating. The extended performance Morningstar Rating for this fund does not affect the retail fund data published by Morningstar, as the bell curve distribution on which the ratings are based includes only funds with actual returns. The Overall Morningstar Rating for multi-share funds is based on actual performance only or extended performance only. Once the share class turns three years old, the Overall Morningstar Rating will be based on actual ratings only. The Overall Morningstar Rating for multi-share variable annuities is based on a weighted average of any ratings that are available. While the inclusion of pre-inception data, in the form of extended performance, can provide valuable insight into the probable long-term behavior of newer share classes of a fund, investors should be aware that an adjusted historical return can only provide an approximation of that behavior. For example, the fee structures of a retail share class will vary from that of an institutional share class, as retail shares tend to have higher operating expenses and sales charges. These adjusted historical returns are not actual returns. The underlying investments in the share classes used to calculate the pre-performance string will likely vary from the underlying investments held in the fund after inception. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself.

Morningstar Rating is for the A share class only; other classes may have different performance characteristics.

The Morningstar Ownership Zone^TM provides detail about a portfolio’s equity investment style by showing the range of stock sizes and styles. A portfolio’s Ownership Zone^TM is derived by plotting each stock in the fund’s portfolio within the proprietary Morningstar Style Box^TM . The shaded area represents the center 75% of the fund’s assets, and it provides an intuitive visual representation of the area of the market in which the fund invests. A "centroid" plot in the middle of the Ownership Zone represents the weighted average of all the fund’s holdings. A fund that is concentrated will have a small ownership zone relative to the area of the style box, and broadly diversified fund will have an ownership zone that stretches across many sizes and style. Over a period of time, the shape and location of a fund’s ownership zone may vary.

The Morningstar Style Box^TM reveals a fund’s investment strategy. For equity funds the vertical axis shows the market capitalization of the long stocks owned and the horizontal axis shows investment style (value, blend, or growth).

Asset Allocation: The weighting of the portfolio in various asset classes, including “Other” is shown in the table. “Other” includes security types that are not neatly classified in the other asset classes, such as convertible bonds and preferred stocks. In the table, allocation to the classes is shown for long positions, short positions, and net (long positions net of short) positions. These statistics summarize what the managers are buying and how they are positioning the portfolio. When short positions are captured in these portfolio statistics, investors get a more robust description of the funds’ exposure and risk.

Most managed product portfolios hold fairly conventional securities, such as long positions in stocks and bonds. Other portfolios use other investment strategies or securities, such as short positions or derivatives, to reduce transaction costs, enhance returns, or reduce risk. Some of these securities and strategies behave like conventional securities, while others have unique return and risk characteristics.

Most portfolios take long positions in securities. Long positions involve buying the security outright and then selling it later, with the hope that the security price rises over time. In contrast, short positions are taken to benefit from anticipated price declines. In this type of transaction, the investor borrows the security from another investor, sells it and receives cash, and then is obligated to buy it back at some point in the future. If the price falls after the short sale, the investor will have sold high and can now buy low to close the short position and lock in a profit. However, if the price of the security increases after the short sale, the investor will experience losses by buying it at a higher price than the sale price.

The strategy of selling securities short is prevalent in specialized portfolios, such as long-short, market-neutral, bear-market, and hedge funds. Most conventional portfolios do not typically short securities, although they may reserve the right to do so under special circumstances. Funds may also short derivatives, and this is sometimes more efficient than shorting individual securities. Short positions produce negative exposure to the security that is being shorted. This means that when the security rises in value, the short position will fall in value and vice versa. Morningstar's portfolio statistics will capture this negative exposure. For example, if a fund has many short stock positions, the percent of assets in stocks in the asset allocation breakdown may be negative. Funds must provide their broker with cash collateral for the short position, so funds that short often have a large cash position, sometimes even exceeding 100% cash.

Note that all other portfolio statistics presented in this report are based on the long holdings of the fund only.

The latest income date allowed is age 95, which is the required age to annuitize or take a lump sum. Please see the prospectus for important information regarding the annuitization of a contract.

Products and features may be limited by state availability, and/or your selling firm's policies and regulatory requirements (including standard of conduct rules).

• Not FDIC/NCUA insured • Not bank/CU guaranteed • May lose value •
Not a deposit • Not insured by any federal agency

Variable annuities are issued by Jackson National Life Insurance Company^® (Home Office: Lansing, Michigan) and in New York, by Jackson National Life Insurance Company of New York^® (Home Office: Purchase, New York). Variable annuities are distributed by Jackson National Life Distributors LLC, member FINRA. These contracts have limitations and restrictions. Jackson issues other annuities with similar features, benefits, limitations, and charges. Discuss them with your representative or contact Jackson for more information. Jackson^® is the marketing name for Jackson Financial Inc., Jackson National Life Insurance Company^®, and Jackson National Life Insurance Company of New York^®.

Jackson National Life Insurance Company
1 Corporate Way
Lansing, MI 48951