New York Life Premier Variable Annuity II Performance ...

New York Life Premier Variable Annuity II Performance Summary Accumulation Value Based M&E Structure

As of September 30, 2022 For Policies Applied for Before May 1, 2016

To obtain a copy of the product and funds prospectuses, please contact your NYLIFE Securities LLC Registered Representative or call 1-800-598-2019. Investors are asked to consider the investment objectives, risks, charges and expenses of the investment carefully before investing. Both the product prospectus and the underlying fund prospectuses contain this and other information about the product and underlying investment options. Please read the prospectuses carefully before investing. 1 The performance shown is for the indicated classes/shares only. These classes/shares impose a 12b-1 fee (except MainStay VP U.S. Government Money Market and MainStay VP Natural Resources ? Initial Class). Performance for these classes/shares is lower than the returns for those classes/shares that do not impose a 12b-1 fee. Contact your NYLIFE Securities LLC Registered Representative or call 1-800-598-2019 for more information. Investment Division Inception Date is the date in which the Investment Division is first offered in the product. Portfolio Inception Date is the date that the Portfolio in which the Investment Division invests was first offered. 2 Assumes no deduction for contingent deferred sales charge. 3 Volatility/Risk Levels are assigned by New York Life. The Investment Divisions are grouped by risk classifications that reflect performance volatility based on Morningstar classifications as of December 31, 2020. Morningstar is a widely used independent research firm, which ranks mutual funds and other investment companies by overall performance, investment objectives and assets. Policy owners need to keep in mind, as applicable, that equity investments have been volatile historically. Investment options concentrated in bonds fluctuate in value in response to changes in interest rates. High-yield securities are generally considered speculative because they present a greater risk of loss than higher-quality debt securities and may be subject to greater price volatility. Non-US securities are subject to currency fluctuation risks and the risks of political and economic instability in the country of issuance. Investment options which are concentrated in economic sectors may be more volatile than more broadly diversified portfolios. While there is no standard definition, generally "alternative" funds include nontraditional asset classes or strategies and/or illiquid assets. Alternative investments are speculative, can carry substantial risk, and may not be appropriate for all investors. For those investors who are able to bear greater risk in return for the opportunity they provide, alternative investments may be appropriate. 4 The New York Life Premier Variable Annuity II was first offered for sale on May 1, 2015. Certain Portfolios and Investment Divisions existed prior to the date. The performance for MainStay VP Series Fund, Inc. portfolios are based on the Initial Class Portfolio Inception Date (where applicable). The performance for all other investment divisions is based on the Portfolio Inception Date reflected in this performance summary. All performance has been modified to reflect Separate Account and Fund annual expenses as if the policy had been available during the periods shown. This version of the New York Life Premier Variable Annuity II invests in the New York Life Insurance and Annuity Corporation (NYLIAC) Separate Account III. 5 The S&P 500 Index is an unmanaged index and is widely regarded as the standard for measuring Large-Cap U.S. stock market performance. "S&P 500" is a trademark of the McGraw-Hill Companies, Inc. and has been licensed for use by the MainStay VP S&P 500 Index Portfolio. The MainStay VP S&P 500 Index Portfolio is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard and Poor's makes no representation regarding the advisability of investing in the MainStay VP S&P 500 Index Portfolio. Investors cannot invest directly in an Index. 6 An Investment in the MainStay VP U.S. Government Money Market Portfolio is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency and there can be no assurance that the Portfolio will be able to maintain a stable net asset value. Although the Portfolio seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Portfolio. The current yield more closely reflects the Portfolio's earnings than the total return figures shown. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. 7 New allocations to the MainStay VP Wellington Growth and MainStay VP Candriam Emerging Markets Equity Investment Divisions will not be accepted from Policyowners who were not invested in the Investment Divisions on November 13, 2017. For existing Policyowners, if you remove all of your Accumulation Value from these Investment Divisions on or after November 13, 2017, you will not be able to reinvest in these Investment Divisions. The Service Class versions of these Investment Divisions impose a 12b -1 fee. 8 New allocations to the Columbia Variable Portfolio - Commodity Strategy Investment Division will not be accepted from Policyowners who were not invested in the Investment Division on November 23, 2020. For existing Policyowners, if you remove all of your Accumulation Value from this Investment Division on or after November 23, 2020, you w ill not be able to reinvest in this Investment Division. Performance information less than 1 year has not been annualized. Historically, certain fees have been assumed or reduced by some of the portfolios. Had these expenses not been assumed or reduced, the total return for these Investment Divisions would have been lower. Sales of this version of the New York Life Premier Variable Annuity II were discontinued. Current policyowners may continue to make premium payments, subject to their contract provisions. Existing policies will continue to be serviced. New York Life Variable Annuities are long-term retirement products issued by New York Life Insurance and Annuity Corporation ("NYLIAC "), a Delaware Corporation, and offered by NYLIFE Securities LLC, (member FINRA/SIPC) a Licensed Insurance Agency. Both NYLIAC and NYLIFE Securities LLC are wholly-owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, New York 10010. There are fees, guidelines, risks, restrictions and limitations to consider when purchasing variable annuities. For costs and complete details, contact a financial professional. SMRU 1543436

Page 1 of 5

New York Life Premier Variable Annuity II Performance Summary Accumulation Value Based M&E Charge Structure

Average Annual Total Return as of September 30, 2022 (Updated Monthly)

Investment Divisions1

Investment Grade Bond MainStay VP U.S. Government Money Market ? Current 7-day yield is 0.01%6 PIMCO VIT Low Duration Portfolio - Advisor Class American Funds IS The Bond Fund of America? - Class 4 Columbia Variable Portfolio -- Intermediate Bond - Class 2 MainStay VP Bond ? Service Class Fidelity? VIP Investment Grade Bond - Service Class 2 Fidelity? VIP Bond Index ? Service Class 2 MainStay VP MacKay Government ? Service Class MainStay VP PIMCO Real Return ? Service Class PIMCO VIT Income Portfolio - Advisor Class PIMCO VIT International Bond Portfolio (U.S. Dollar-Hedged) - Advisor Class PIMCO VIT Total Return Portfolio - Advisor Class Western Asset Core Plus VIT - Class II

Non-Investment Grade Bond

BlackRock? High Yield V.I. Fund ? Class III Shares Columbia Variable Portfolio -- Emerging Markets Bond Fund -- Class 2 MainStay VP Floating Rate ? Service Class MainStay VP MacKay Convertible ? Service Class MainStay VP MacKay High Yield Corporate Bond ? Service Class MainStay VP MacKay Strategic Bond ? Service Class

Alternatives

DWS Alternative Asset Allocation VIP - Class B MainStay VP IQ Hedge Multi-Strategy - Service Class

Asset Allocation

American Funds IS Asset Allocation Fund - Class 4 BlackRock? Global Allocation V.I. Fund ? Class III Shares Fidelity? VIP FundsManager? 60% -- Service Class MainStay VP Balanced ? Service Class MainStay VP Conservative Allocation ? Service Class MainStay VP Income Builder ? Service Class MainStay VP Janus Henderson Balanced ? Service Class MainStay VP Moderate Allocation?Service Class Franklin Templeton Conservative Model Portfolio - Class II Franklin Templeton Moderate Model Portfolio - Class II Franklin Templeton Moderately Aggressive Model Portfolio - Class II Franklin Templeton Moderately Conservative Model Portfolio - Class II Franklin Templeton Aggressive Model Portfolio - Class II MainStay VP Equity Allocation ? Service Class MainStay VP Growth Allocation?Service Class

Large Cap Equity

AB VPS Growth & Income - Class B American Funds IS Washington Mutual Investors Fund - Class 4 American Funds IS Growth Fund - Class 4 BNY Mellon Sustainable US Equity - Service Shares ClearBridge Variable Appreciation Portfolio -- Class II Fidelity? VIP Contrafund? ? Service Class 2 Fidelity? VIP Equity-Income ? Service Class 2 Fidelity? VIP Growth Opportunities ? Service Class 2 MainStay VP Epoch U.S. Equity Yield ? Service Class MainStay VP Wellington U.S. Equity ? Service Class MainStay VP Wellington Growth ? Service Class7 MainStay VP S&P 500 Index ? Service Class5 MainStay VP Winslow Large Cap Growth ? Service Class MainStay VP American Century Sustainable Equity ? Service Class MFS? Investors Trust Series ? Service Class MFS? Research Series ? Service Class

Small/Mid Cap Equity

Fidelity? VIP Mid Cap ? Service Class 2 Janus Henderson VIT Enterprise Portfolio ? Service Shares MainStay VP Wellington Mid Cap ? Service Class MFS? Mid Cap Value Portfolio - Service Class Neuberger Berman AMT Mid-Cap Growth ? Class S Invesco V.I. Main Street Small Cap Fund - Series II Columbia Variable Portfolio ? Small Cap Value Fund -- Class 2 Delaware VIP Small Cap Value - Service Class MainStay VP Wellington Small Cap - Service Class MainStay VP Small Cap Growth ? Service Class

Volatility/ Risk Level3

Portfolio Inception

Date

Investment Division Inception

Date1

Month to Date

Non-Standardized (Assuming No Surrender)2

Year to

Date

(Updated

1

3

5

10

Monthly)

Year4

Year4

Year4

Year4

Since Investment

Division

Inception

1 Year4

Standardized (Assuming Surrender)

3 Year4

5 Year4

10 Year4

Since Investment

Division

Inception

Low Low Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate

01/29/1993 03/31/2006 12/14/2012 05/03/2010 06/02/2003 08/15/2005 04/19/2018 06/02/2003 02/17/2012 04/29/2016 05/01/2014 02/28/2006 05/01/2015

05/01/2015 05/02/2016 05/01/2022 05/01/2022 05/01/2015 05/01/2022 11/23/2020 05/01/2015 05/01/2015 05/01/2020 05/01/2015 05/01/2015 05/01/2022

0.06% -1.48% -4.63% -5.68% -4.40% -4.38% -4.50% -4.60% -6.90% -3.42% -2.85% -4.59% -5.41%

-0.48% -7.25% -15.21% -19.10% -16.67% -15.53% -15.59% -13.30% -14.71% -11.81% -11.81% -16.68% -19.78%

-0.81% -8.40% -15.34% -19.75% -17.19% -15.77% -16.05% -14.08% -13.23% -12.01% -12.52% -17.08% -20.25%

-0.94% -2.78% -3.46% -4.15% -4.99% -3.73% -4.92% -4.66% -0.57% -1.68% -4.23% -4.75% -5.66%

-0.49% -1.44% -1.15% -1.31% -2.06% -1.18%

N/A -2.45% 0.20% -0.17% -1.06% -1.91% -2.38%

-0.86% -0.98% -0.34% -0.19% -0.72% -0.16%

N/A -1.43% -0.83%

N/A 0.89% -0.56% 0.34%

-0.71% -1.11% -6.05% -8.08% -1.08% -5.90% -10.49% -1.78% 0.02% -0.53% -0.21% -0.88% -7.09%

-8.74% -15.73% -22.12% -26.17% -23.82% -22.51% -22.76% -20.95% -20.17% -19.05% -19.52% -23.72% -26.63%

-2.96% -4.77% -5.43% -6.11% -6.93% -5.69% -6.86% -6.61% -2.60% -3.69% -6.18% -6.69% -7.58%

-1.30% -2.24% -1.95% -2.12% -2.86% -1.98%

N/A -3.24% -0.61% -0.98% -1.87% -2.71% -3.18%

-0.86% -0.98% -0.34% -0.19% -0.72% -0.16%

N/A -1.43% -0.83%

N/A 0.89% -0.56% 0.34%

-0.71% -1.42% -13.57% -15.44% -1.08% -13.43% -13.91% -1.78% 0.02% -3.05% -0.21% -0.88% -14.52%

Moderate Moderate Moderate Moderate Moderate Moderate

02/15/2012 04/30/2012 05/01/2005 06/02/2003 06/02/2003 05/01/2011

05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015

-4.04% -6.56% -2.49% -6.74% -3.68% -3.86%

-14.86% -23.32% -5.12% -16.82% -12.56% -10.97%

-14.43% -24.14% -5.03% -14.78% -12.65% -11.37%

-1.48% -7.46% -0.31% 8.62% -1.24% -2.00%

0.32% -4.49% 0.66% 7.28% 0.48% -0.78%

2.47% -1.23% 1.37% 8.06% 2.50% 0.62%

1.32% -1.42% 1.08% 6.38% 1.89% -0.13%

-21.28% -30.21% -12.63% -21.60% -19.63% -18.46%

-3.49% -9.34% -2.35% 6.90% -3.26% -4.00%

-0.49% -5.27% -0.13% 6.67% -0.32% -1.59%

2.47% -1.23% 1.37% 8.06% 2.50% 0.62%

1.32% -1.42% 1.08% 6.38% 1.89% -0.13%

Moderate 05/18/2009 05/02/2016 -5.96% -11.73% -9.99% 1.42% Moderate 05/01/2013 05/01/2015 -4.04% -13.25% -13.63% -3.25%

0.87% -2.98%

0.59% N/A

1.36% -3.88%

-17.19% -20.54%

-0.56% -5.23%

0.09% -3.77%

0.59% N/A

1.07% -3.88%

Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate

High High High

12/14/2012 11/18/2003 08/22/2007 05/01/2005 02/13/2006 06/02/2003 02/17/2012 02/13/2006 05/01/2020 05/01/2020 05/01/2020 05/01/2020 05/01/2020 02/13/2006 02/13/2006

05/01/2018 05/01/2015 05/01/2019 05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2020 05/01/2020 05/01/2020 05/01/2020 05/01/2020 05/01/2015 05/01/2015

-7.47% -6.94% -7.39% -6.16% -5.94% -8.52% -7.07% -7.01% -5.30% -6.99% -7.64% -6.25% -8.30% -9.13% -7.96%

-21.48% -21.86% -21.25% -13.20% -17.68% -22.25% -21.70% -20.38% -16.52% -19.93% -21.87% -18.01% -23.26% -25.98% -22.37%

-17.16% -20.29% -18.20% -8.90% -15.84% -19.43% -16.08% -17.48% -15.14% -16.09% -17.74% -15.04% -17.78% -21.58% -18.52%

1.50% 1.09% 1.66% 3.15% -1.00% -2.51% 2.30% 0.08%

N/A N/A N/A N/A N/A 2.14% 1.50%

2.55% 1.16% 2.31% 2.89% 0.06% -0.04% 5.02% 0.81%

N/A N/A N/A N/A N/A 1.95% 1.58%

5.80% 2.96% 4.60% 5.30% 2.28% 3.35% 6.32% 3.52%

N/A N/A N/A N/A N/A 5.60% 4.80%

2.54% 1.48% 1.98% 3.07% 0.86% 1.02% 4.86% 1.62% -2.41% 1.78% 3.55% 0.36% 6.55% 2.79% 2.39%

-23.79% -26.67% -24.74% -16.19% -22.58% -25.88% -22.80% -24.08% -21.93% -22.80% -24.32% -21.84% -24.35% -27.85% -25.04%

-0.48% -0.91% -0.31% 1.24% -3.02% -4.50% 0.35% -1.96%

N/A N/A N/A N/A N/A 0.19% -0.48%

1.82% 0.39% 1.57% 2.17% -0.75% -0.85% 4.35% 0.02%

N/A N/A N/A N/A N/A 1.20% 0.82%

5.80% 2.96% 4.60% 5.30% 2.28% 3.35% 6.32% 3.52%

N/A N/A N/A N/A N/A 5.60% 4.80%

1.70% 1.48% 0.56% 3.07% 0.86% 1.02% 4.86% 1.62% -4.87% -0.69% 1.14% -2.15% 4.25% 2.79% 2.39%

High High High High High High High High High High

High

High High High High High

06/01/1999 12/14/2012 12/14/2012 12/31/2000 02/28/2015 01/12/2000 01/12/2000 01/12/2000 06/02/2003 06/02/2003

06/02/2003

06/02/2003 06/02/2003 02/17/2012 05/01/2000 05/01/2000

05/01/2022 11/13/2017 11/13/2017 05/01/2022 05/01/2017 05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015

05/01/2015

05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015

-7.41% -7.94% -8.44% -9.51% -8.48% -8.23% -7.50% -10.67% -8.16% -8.93% -10.03%

-9.32% -9.89% -9.06% -8.66% -8.49%

-16.63% -19.25% -32.43% -27.38% -21.04% -30.68% -16.53% -38.63% -15.15% -26.02% -36.04%

-24.79% -36.61% -16.34% -24.06% -23.91%

-10.53% -9.99% -27.48% -20.09% -13.75% -23.77% -10.35% -38.80% -7.84% -18.68% -33.44%

-16.84% -32.20% -10.73% -18.33% -17.62%

4.40% 5.84% 11.11% 6.16% 5.33% 7.15% 4.87% 8.76% 1.74% 4.84% 2.29%

6.37% 4.51% 3.03% 4.40% 4.77%

5.01% 4.55% 10.19% 7.18% 7.36% 6.92% 4.98% 12.86% 3.92% 5.74% 5.23%

7.41% 8.23% 3.70% 6.35% 6.88%

8.39% 8.45% 11.86% 8.95% 8.95% 9.16% 7.31% 13.09% 6.27% 9.05% 6.98%

9.75% 10.25% 6.84% 8.92% 9.19%

-11.54% 4.48% 9.68% -12.34% 7.62% 6.88% 5.19% 11.51% 3.52% 6.07% 5.28%

7.59% 8.17% 4.53% 6.63% 7.09%

-17.69% -17.19% -33.28% -26.48% -20.65% -29.87% -17.52% -43.69% -15.21% -25.18% -38.77%

-23.50% -37.63% -17.88% -24.86% -24.21%

2.53% 4.02% 9.46% 4.36% 3.49% 5.38% 3.02% 7.04% -0.23% 2.98% 0.34%

4.57% 2.65% 1.11% 2.54% 2.92%

4.34% 3.87% 9.64% 6.57% 6.75% 6.30% 4.31% 12.36% 3.22% 5.09% 4.57%

6.80% 7.64% 2.99% 5.72% 6.26%

8.39% 8.45% 11.86% 8.95% 8.95% 9.16% 7.31% 13.09% 6.27% 9.05% 6.98%

9.75% 10.25% 6.84% 8.92% 9.19%

-18.61% 3.78% 9.10% -19.35% 7.22% 6.88% 5.19% 11.51% 3.52% 6.07% 5.28%

7.59% 8.17% 4.53% 6.63% 7.09%

High High High High High Highest Highest Highest Highest Highest

01/12/2000 12/31/1999 06/02/2003 03/07/2008 02/18/2003 07/16/2001 06/01/2000 05/01/2000 05/02/2016 02/17/2012

05/01/2015 11/13/2017 05/01/2015 05/01/2020 05/01/2015 05/01/2020 05/01/2015 11/13/2017 05/02/2016 05/01/2015

-8.31% -8.90% -9.60% -9.59% -8.94% -8.82% -9.68% -9.93% -9.44% -7.34%

-23.40% -24.11% -28.59% -19.44% -31.16% -23.36% -19.78% -22.38% -27.34% -30.90%

-17.27% -20.08% -24.66% -11.54% -29.58% -20.06% -17.35% -15.17% -23.57% -29.75%

Page 2 of 5

5.70% 2.71% -0.99% 4.29% 4.00% 5.81% 6.02% 2.43% -0.26% 4.62%

3.59% 7.19% 0.71% 4.52% 6.32% 4.02% 1.61% 1.43% -1.69% 3.74%

7.48% 11.17% 6.63% 8.18% 8.22% 8.67% 7.14% 6.60%

N/A 6.83%

4.43% 6.66% 1.91% 15.49% 5.67% 15.55% 4.84% 1.30% 2.55% 5.09%

-23.89% -26.47% -30.68% -18.62% -35.22% -26.45% -23.97% -21.96% -29.68% -35.37%

3.88% 0.77% -3.01% 2.41% 2.12% 3.99% 4.21% 0.49% -2.29% 2.76%

2.89% 6.57% -0.09% 3.84% 5.69% 3.33% 0.85% 0.67% -2.49% 3.04%

7.48% 11.17% 6.63% 8.18% 8.22% 8.67% 7.14% 6.60%

N/A 6.83%

4.43% 6.02% 1.91% 13.44% 5.67% 13.50% 4.84% 0.51% 2.28% 5.09%

International/Global Equity

American Funds IS Global Small Cap Fund? ? Class 4 Fidelity? VIP International Index -- Service Class 2 Invesco V.I. EQV International Equity Fund - Series II Janus Henderson VIT Global Research Portfolio ? Service Shares MainStay VP MacKay International Equity ? Service Class MFS? International Intrinsic Value Portfolio ? Service Class MFS? VIT Research International - Service Class American Funds IS New World Fund - Class 4 Fidelity? VIP Emerging Markets ? Service Class 2 MainStay VP Candriam Emerging Markets Equity ? Service Class7

Sector Columbia Variable Portfolio -- Commodity Strategy Fund -- Class 28 MainStay VP Fidelity Institutional AM? Utilities ? Service Class Morgan Stanley VIF U.S. Real Estate - Class II MainStay VP CBRE Global Infrastructure -- Service Class BNY Mellon IP Technology Growth ? Service Shares Fidelity? VIP Health Care -- Service Class 2 MainStay VP Natural Resources ? Initial Class

Please read the important disclosures below regarding the product performance.

High High High High High High High Highest Highest

Highest

12/14/2012 04/16/2018 09/19/2001 12/31/1999 06/02/2003 08/31/2001 08/24/2001 12/14/2012 01/23/2008

02/17/2012

05/01/2015 05/01/2019 05/01/2015 05/01/2015 05/01/2015 05/01/2017 05/01/2022 05/01/2015 05/01/2018

05/01/2015

-10.36% -10.17% -8.73% -9.70% -11.36% -7.42% -9.79% -8.43% -11.61%

-10.91%

-36.66% -27.96% -28.94% -28.11% -34.63% -32.82% -29.61% -29.92% -30.41%

-32.83%

-38.01% -26.91% -26.17% -24.39% -33.51% -28.45% -27.29% -30.10% -30.84%

-34.57%

-2.19% -3.38% -3.85% 2.49% -1.85% -2.40% -2.08% -1.33% -1.49%

-3.70%

High High High High Highest Highest Highest

04/30/2013 02/17/2012 11/05/2002 05/01/2015 12/29/2000 07/18/2001 02/17/2012

05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2019 05/01/2015

-8.81% -10.29% -12.97% -12.73% -11.92% -2.52% -11.22%

13.09% -4.64% -30.77% -15.80% -46.64% -18.56% 16.09%

11.15% 8.35% -20.77% -9.57% -44.55% -15.58% 27.68%

14.28% 2.52% -7.64% -5.73% 2.93% 9.03% 21.86%

0.31% N/A

-1.97% 3.80% -0.64% 0.26% -0.76% -0.17% -0.75% -4.76%

6.11% 5.37% -3.01% -7.62% 5.05% 7.27% 8.07%

4.57% N/A

1.87% 7.14% 2.54% 5.20% 2.15% 2.28% 2.33% -2.56%

N/A 6.12% 1.52%

N/A 9.45% 12.45% 0.81%

1.45% -3.40% -0.89% 3.62% 1.24% 1.58% -16.28% 1.70% -2.10% -2.23%

1.10% 3.86% -1.43% -6.49% 7.71% 8.08% 1.66%

-42.97% -32.76% -32.08% -30.44% -38.83% -34.17% -33.10% -35.69% -36.37% -39.80%

3.15% 0.35% -27.11% -16.80% -48.99% -22.33% 19.68%

-4.18% -5.36% -5.81% 0.55% -3.86% -4.39% -4.08% -3.35% -3.51% -5.66%

12.73% 0.58% -9.52% -7.65% 1.01% 7.32% 20.50%

-0.50% N/A

-2.77% 3.10% -1.45% -0.55% -1.56% -0.98% -1.55% -5.54%

5.47% 4.72% -3.80% -8.37% 4.39% 6.66% 7.48%

4.57% N/A

1.87% 7.14% 2.54% 5.20% 2.15% 2.28% 2.33% -2.56%

N/A 6.12% 1.52%

N/A 9.45% 12.45% 0.81%

1.45% -4.84% -0.89% 3.62% 1.24% 1.06% -22.98% 1.70% -3.00% -2.23%

1.10% 3.86% -1.43% -6.49% 7.71% 6.85% 1.66%

Performance data quoted represents past performance. Past performance is no guarantee of future results. Due to market volat ility, current performance may be lower or higher than the figures shown. The investment return and the Accumulation Value of your policy will fluctuate so that a policy, when surrendered may be worth more or less than the premiu m payment(s). For current to the most recent month-end performance information, please call 1-800-598-2019 or visit . All performance reflects the percentage change for the period shown, with capital gains and dividends reinvested and includes an annualized Mortality and Expense Risk and Administrative Costs Charge of 1.30% during the surrender charge period for the initial premium and 1.10% after the surrender charge period for the initial premium and Fund Company Expenses. An Annual Policy Service Charge of $30 is not included, but will be deducted each year from the policy's Accumulation Value on the policy anniversary and upon surrender if on that date the Accumulation Value Is less than $100,000. The performance shown, t herefore, would be slightly lower if your policy's Accumulation Value is less than $100,000. Charges for any optional riders, if reflected, would reduce the performance shown. Non-Standardized Performance ("Assuming No Surrender") does not reflect the deduction of Surrender Charges. Standardized Performance ("Assuming Surrender") reflects the maximum Surrender Charge under the policy. The maximum Surrende r Charge for each premium payment is 8%, declining to 2% by the 7th year after that premium payment has been in the policy, with no surrender charge thereafter. Withdrawals and surrenders may be taxable transactions, and prior to age 59?, may be subject to a 10% IRS penalty (the penalt y tax is increased to 25% in the case of a distribution from a SIMPLE IRA within the first two years of your participation in the SIMPLE IRA plan). The Investment Divisions offered through the New York Life Premier Variable Annuity II and described herein are different fro m mutual funds that may have similar names but are available directly to the general public. Investment results may differ. In most jurisdictions, the policy form number for the New York Life Premier Variable Annuity II is ICC15 -P301 or it may be 215-P301.

Page 3 of 5

New York Life Premier Variable Annuity II Performance Summary Accumulation Value Based M&E Charge Structure

Average Annual Total Return as of September 30, 2022 (Updated Quarterly)

Investment Divisions1

Investment Grade Bond MainStay VP U.S. Government Money Market ? Current 7-day yield is 0.01%6 PIMCO VIT Low Duration Portfolio - Advisor Class American Funds IS The Bond Fund of America? - Class 4 Columbia Variable Portfolio -- Intermediate Bond - Class 2 MainStay VP Bond ? Service Class Fidelity? VIP Investment Grade Bond - Service Class 2 Fidelity? VIP Bond Index ? Service Class 2 MainStay VP MacKay Government ? Service Class MainStay VP PIMCO Real Return ? Service Class PIMCO VIT Income Portfolio - Advisor Class PIMCO VIT International Bond Portfolio (U.S. Dollar-Hedged) - Advisor Class PIMCO VIT Total Return Portfolio - Advisor Class Western Asset Core Plus VIT - Class II

Non-Investment Grade Bond

BlackRock? High Yield V.I. Fund ? Class III Shares Columbia Variable Portfolio -- Emerging Markets Bond Fund -- Class 2 MainStay VP Floating Rate ? Service Class MainStay VP MacKay Convertible ? Service Class MainStay VP MacKay High Yield Corporate Bond ? Service Class MainStay VP MacKay Strategic Bond ? Service Class

Alternatives

DWS Alternative Asset Allocation VIP - Class B MainStay VP IQ Hedge Multi-Strategy - Service Class

Asset Allocation

American Funds IS Asset Allocation Fund - Class 4 BlackRock? Global Allocation V.I. Fund ? Class III Shares Fidelity? VIP FundsManager? 60% -- Service Class MainStay VP Balanced ? Service Class MainStay VP Conservative Allocation ? Service Class MainStay VP Income Builder ? Service Class MainStay VP Janus Henderson Balanced ? Service Class MainStay VP Moderate Allocation?Service Class Franklin Templeton Conservative Model Portfolio - Class II Franklin Templeton Moderate Model Portfolio - Class II Franklin Templeton Moderately Aggressive Model Portfolio - Class II Franklin Templeton Moderately Conservative Model Portfolio - Class II Franklin Templeton Aggressive Model Portfolio - Class II MainStay VP Equity Allocation ? Service Class MainStay VP Growth Allocation?Service Class

Large Cap Equity

AB VPS Growth & Income - Class B American Funds IS Washington Mutual Investors Fund - Class 4 American Funds IS Growth Fund - Class 4 BNY Mellon Sustainable US Equity - Service Shares ClearBridge Variable Appreciation Portfolio -- Class II Fidelity? VIP Contrafund? ? Service Class 2 Fidelity? VIP Equity-Income ? Service Class 2 Fidelity? VIP Growth Opportunities ? Service Class 2 MainStay VP Epoch U.S. Equity Yield ? Service Class MainStay VP Wellington U.S. Equity ? Service Class MainStay VP Wellington Growth ? Service Class7 MainStay VP S&P 500 Index ? Service Class5 MainStay VP Winslow Large Cap Growth ? Service Class MainStay VP American Century Sustainable Equity ? Service Class MFS? Investors Trust Series ? Service Class MFS? Research Series ? Service Class

Small/Mid Cap Equity

Fidelity? VIP Mid Cap ? Service Class 2 Janus Henderson VIT Enterprise Portfolio ? Service Shares MainStay VP Wellington Mid Cap ? Service Class MFS? Mid Cap Value Portfolio - Service Class Neuberger Berman AMT Mid-Cap Growth ? Class S Invesco V.I. Main Street Small Cap Fund - Series II Columbia Variable Portfolio ? Small Cap Value Fund -- Class 2 Delaware VIP Small Cap Value - Service Class MainStay VP Wellington Small Cap - Service Class MainStay VP Small Cap Growth ? Service Class

Volatility/ Risk Level3

Portfolio Inception

Date

Investment

Division

Inception Date1

Non-Standardized (Assuming No Surrender)2

Since

Investment

1 Year4

3 Year4

5 Year4

10 Year4

Division Inception

1 Year4

Standardized (Assuming Surrender)

3 Year4

5 Year4

10 Year4

Since Investment

Division

Inception

Low Low Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate

01/29/1993 03/31/2006 12/14/2012 05/03/2010 06/02/2003 08/15/2005 04/19/2018 06/02/2003 02/17/2012 04/29/2016 05/01/2014 02/28/2006 05/01/2015

05/01/2015 05/02/2016 05/01/2022 05/01/2022 05/01/2015 05/01/2022 11/23/2020 05/01/2015 05/01/2015 05/01/2020 05/01/2015 05/01/2015 05/01/2022

-0.81%

-8.40% -15.34% -19.75% -17.19% -15.77% -16.05% -14.08% -13.23% -12.01% -12.52% -17.08% -20.25%

-0.94%

-2.78% -3.46% -4.15% -4.99% -3.73% -4.92% -4.66% -0.57% -1.68% -4.23% -4.75% -5.66%

-0.49%

-1.44% -1.15% -1.31% -2.06% -1.18%

N/A -2.45% 0.20% -0.17% -1.06% -1.91% -2.38%

-0.86%

-0.98% -0.34% -0.19% -0.72% -0.16%

N/A -1.43% -0.83%

N/A 0.89% -0.56% 0.34%

-0.71%

-1.11% -6.05% -8.08% -1.08% -5.90% -10.49% -1.78% 0.02% -0.53% -0.21% -0.88% -7.09%

-8.74%

-15.73% -22.12% -26.17% -23.82% -22.51% -22.76% -20.95% -20.17% -19.05% -19.52% -23.72% -26.63%

-2.96%

-4.77% -5.43% -6.11% -6.93% -5.69% -6.86% -6.61% -2.60% -3.69% -6.18% -6.69% -7.58%

-1.30%

-2.24% -1.95% -2.12% -2.86% -1.98%

N/A -3.24% -0.61% -0.98% -1.87% -2.71% -3.18%

-0.86%

-0.98% -0.34% -0.19% -0.72% -0.16%

N/A -1.43% -0.83%

N/A 0.89% -0.56% 0.34%

-0.71%

-1.42% -13.57% -15.44% -1.08% -13.43% -13.91% -1.78% 0.02% -3.05% -0.21% -0.88% -14.52%

Moderate Moderate Moderate Moderate Moderate Moderate

02/15/2012 04/30/2012 05/01/2005 06/02/2003 06/02/2003 05/01/2011

05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015

-14.43% -24.14% -5.03% -14.78% -12.65% -11.37%

-1.48% -7.46% -0.31% 8.62% -1.24% -2.00%

0.32% -4.49% 0.66% 7.28% 0.48% -0.78%

2.47% -1.23% 1.37% 8.06% 2.50% 0.62%

1.32% -1.42% 1.08% 6.38% 1.89% -0.13%

-21.28% -30.21% -12.63% -21.60% -19.63% -18.46%

-3.49% -9.34% -2.35% 6.90% -3.26% -4.00%

-0.49% -5.27% -0.13% 6.67% -0.32% -1.59%

2.47% -1.23% 1.37% 8.06% 2.50% 0.62%

1.32% -1.42% 1.08% 6.38% 1.89% -0.13%

Moderate 05/18/2009 05/02/2016 -9.99% Moderate 05/01/2013 05/01/2015 -13.63%

1.42% -3.25%

0.87% -2.98%

0.59% N/A

1.36% -3.88%

-17.19% -20.54%

-0.56% -5.23%

0.09% -3.77%

0.59% N/A

1.07% -3.88%

Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate

High High High

12/14/2012 11/18/2003 08/22/2007 05/01/2005 02/13/2006 06/02/2003 02/17/2012 02/13/2006 05/01/2020 05/01/2020 05/01/2020 05/01/2020 05/01/2020 02/13/2006 02/13/2006

05/01/2018 05/01/2015 05/01/2019 05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2020 05/01/2020 05/01/2020 05/01/2020 05/01/2020 05/01/2015 05/01/2015

-17.16% -20.29% -18.20% -8.90% -15.84% -19.43% -16.08% -17.48% -15.14% -16.09% -17.74% -15.04% -17.78% -21.58% -18.52%

1.50% 1.09% 1.66% 3.15% -1.00% -2.51% 2.30% 0.08%

N/A N/A N/A N/A N/A 2.14% 1.50%

2.55% 1.16% 2.31% 2.89% 0.06% -0.04% 5.02% 0.81%

N/A N/A N/A N/A N/A 1.95% 1.58%

5.80% 2.96% 4.60% 5.30% 2.28% 3.35% 6.32% 3.52%

N/A N/A N/A N/A N/A 5.60% 4.80%

2.54% 1.48% 1.98% 3.07% 0.86% 1.02% 4.86% 1.62% -2.41% 1.78% 3.55% 0.36% 6.55% 2.79% 2.39%

-23.79% -26.67% -24.74% -16.19% -22.58% -25.88% -22.80% -24.08% -21.93% -22.80% -24.32% -21.84% -24.35% -27.85% -25.04%

-0.48% -0.91% -0.31% 1.24% -3.02% -4.50% 0.35% -1.96%

N/A N/A N/A N/A N/A 0.19% -0.48%

1.82% 0.39% 1.57% 2.17% -0.75% -0.85% 4.35% 0.02%

N/A N/A N/A N/A N/A 1.20% 0.82%

5.80% 2.96% 4.60% 5.30% 2.28% 3.35% 6.32% 3.52%

N/A N/A N/A N/A N/A 5.60% 4.80%

1.70% 1.48% 0.56% 3.07% 0.86% 1.02% 4.86% 1.62% -4.87% -0.69% 1.14% -2.15% 4.25% 2.79% 2.39%

High High High High High High High High High High

High

High High High High High

06/01/1999 12/14/2012 12/14/2012 12/31/2000 02/28/2015 01/12/2000 01/12/2000 01/12/2000 06/02/2003 06/02/2003

06/02/2003

06/02/2003 06/02/2003 02/17/2012 05/01/2000 05/01/2000

05/01/2022 11/13/2017 11/13/2017 05/01/2022 05/01/2017 05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015

05/01/2015

05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015

-10.53% -9.99% -27.48% -20.09% -13.75% -23.77% -10.35% -38.80% -7.84% -18.68% -33.44%

-16.84% -32.20% -10.73% -18.33% -17.62%

4.40% 5.84% 11.11% 6.16% 5.33% 7.15% 4.87% 8.76% 1.74% 4.84% 2.29%

6.37% 4.51% 3.03% 4.40% 4.77%

5.01% 4.55% 10.19% 7.18% 7.36% 6.92% 4.98% 12.86% 3.92% 5.74% 5.23%

7.41% 8.23% 3.70% 6.35% 6.88%

8.39% 8.45% 11.86% 8.95% 8.95% 9.16% 7.31% 13.09% 6.27% 9.05% 6.98%

9.75% 10.25% 6.84% 8.92% 9.19%

-11.54% 4.48% 9.68% -12.34% 7.62% 6.88% 5.19% 11.51% 3.52% 6.07% 5.28%

7.59% 8.17% 4.53% 6.63% 7.09%

-17.69% -17.19% -33.28% -26.48% -20.65% -29.87% -17.52% -43.69% -15.21% -25.18% -38.77%

-23.50% -37.63% -17.88% -24.86% -24.21%

2.53% 4.02% 9.46% 4.36% 3.49% 5.38% 3.02% 7.04% -0.23% 2.98% 0.34%

4.57% 2.65% 1.11% 2.54% 2.92%

4.34% 3.87% 9.64% 6.57% 6.75% 6.30% 4.31% 12.36% 3.22% 5.09% 4.57%

6.80% 7.64% 2.99% 5.72% 6.26%

8.39% 8.45% 11.86% 8.95% 8.95% 9.16% 7.31% 13.09% 6.27% 9.05% 6.98%

9.75% 10.25% 6.84% 8.92% 9.19%

-18.61% 3.78% 9.10% -19.35% 7.22% 6.88% 5.19% 11.51% 3.52% 6.07% 5.28%

7.59% 8.17% 4.53% 6.63% 7.09%

High High High High High Highest Highest Highest Highest Highest

01/12/2000 12/31/1999 06/02/2003 03/07/2008 02/18/2003 07/16/2001 06/01/2000 05/01/2000 05/02/2016 02/17/2012

05/01/2015 11/13/2017 05/01/2015 05/01/2020 05/01/2015 05/01/2020 05/01/2015 11/13/2017 05/02/2016 05/01/2015

-17.27% -20.08% -24.66% -11.54% -29.58% -20.06% -17.35% -15.17% -23.57% -29.75%

5.70% 2.71% -0.99% 4.29% 4.00% 5.81% 6.02% 2.43% -0.26% 4.62%

3.59% 7.19% 0.71% 4.52% 6.32% 4.02% 1.61% 1.43% -1.69% 3.74%

7.48% 11.17% 6.63% 8.18% 8.22% 8.67% 7.14% 6.60%

N/A 6.83%

4.43% 6.66% 1.91% 15.49% 5.67% 15.55% 4.84% 1.30% 2.55% 5.09%

-23.89% -26.47% -30.68% -18.62% -35.22% -26.45% -23.97% -21.96% -29.68% -35.37%

3.88% 0.77% -3.01% 2.41% 2.12% 3.99% 4.21% 0.49% -2.29% 2.76%

2.89% 6.57% -0.09% 3.84% 5.69% 3.33% 0.85% 0.67% -2.49% 3.04%

7.48% 11.17% 6.63% 8.18% 8.22% 8.67% 7.14% 6.60%

N/A 6.83%

4.43% 6.02% 1.91% 13.44% 5.67% 13.50% 4.84% 0.51% 2.28% 5.09%

Page 4 of 5

International/Global Equity

American Funds IS Global Small Cap Fund? ? Class 4 Fidelity? VIP International Index -- Service Class 2 Invesco V.I. EQV International Equity Fund - Series II Janus Henderson VIT Global Research Portfolio ? Service Shares MainStay VP MacKay International Equity ? Service Class MFS? International Intrinsic Value Portfolio ? Service Class MFS? VIT Research International - Service Class American Funds IS New World Fund - Class 4 Fidelity? VIP Emerging Markets ? Service Class 2 MainStay VP Candriam Emerging Markets Equity ? Service Class7

Sector Columbia Variable Portfolio -- Commodity Strategy Fund -- Class 28 MainStay VP Fidelity Institutional AM? Utilities ? Service Class Morgan Stanley VIF U.S. Real Estate - Class II MainStay VP CBRE Global Infrastructure -- Service Class BNY Mellon IP Technology Growth ? Service Shares Fidelity? VIP Health Care -- Service Class 2 MainStay VP Natural Resources ? Initial Class

Please read the important disclosures below regarding the product performance.

High High High High High High High Highest Highest Highest

High High High High Highest Highest Highest

12/14/2012 04/16/2018 09/19/2001 12/31/1999 06/02/2003 08/31/2001 08/24/2001 12/14/2012 01/23/2008

02/17/2012

05/01/2015 05/01/2019 05/01/2015 05/01/2015 05/01/2015 05/01/2017 05/01/2022 05/01/2015 05/01/2018

05/01/2015

-38.01% -26.91% -26.17% -24.39% -33.51% -28.45% -27.29% -30.10% -30.84%

-34.57%

-2.19% -3.38% -3.85% 2.49% -1.85% -2.40% -2.08% -1.33% -1.49%

-3.70%

04/30/2013 02/17/2012 11/05/2002 05/01/2015 12/29/2000 07/18/2001 02/17/2012

05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2015 05/01/2019 05/01/2015

11.15% 8.35% -20.77% -9.57% -44.55% -15.58% 27.68%

14.28% 2.52% -7.64% -5.73% 2.93% 9.03% 21.86%

0.31% N/A

-1.97% 3.80% -0.64% 0.26% -0.76% -0.17% -0.75%

-4.76%

4.57% N/A

1.87% 7.14% 2.54% 5.20% 2.15% 2.28% 2.33%

-2.56%

1.45% -3.40% -0.89% 3.62% 1.24% 1.58% -16.28% 1.70% -2.10%

-2.23%

-42.97% -32.76% -32.08% -30.44% -38.83% -34.17% -33.10% -35.69% -36.37%

-39.80%

6.11% 5.37% -3.01% -7.62% 5.05% 7.27% 8.07%

N/A 6.12% 1.52%

N/A 9.45% 12.45% 0.81%

1.10% 3.86% -1.43% -6.49% 7.71% 8.08% 1.66%

3.15% 0.35% -27.11% -16.80% -48.99% -22.33% 19.68%

-4.18% -5.36% -5.81% 0.55% -3.86% -4.39% -4.08% -3.35% -3.51% -5.66%

12.73% 0.58% -9.52% -7.65% 1.01% 7.32% 20.50%

-0.50% N/A

-2.77% 3.10% -1.45% -0.55% -1.56% -0.98% -1.55% -5.54%

5.47% 4.72% -3.80% -8.37% 4.39% 6.66% 7.48%

4.57% N/A

1.87% 7.14% 2.54% 5.20% 2.15% 2.28% 2.33% -2.56%

N/A 6.12% 1.52%

N/A 9.45% 12.45% 0.81%

1.45% -4.84% -0.89% 3.62% 1.24% 1.06% -22.98% 1.70% -3.00% -2.23%

1.10% 3.86% -1.43% -6.49% 7.71% 6.85% 1.66%

Performance data quoted represents past performance. Past performance is no guarantee of future results. Due to market volat ility, current performance may be lower or higher than the figures shown. The investment return and the Accumulation Value of your policy will fluctuate so that a policy, when surrendered may be worth more or less than the premiu m payment(s). For current to the most recent month-end performance information, please call 1-800-598-2019 or visit . All performance reflects the percentage change for the period shown, with capital gains and dividends reinvested and includes an annualized Mortality and Expense Risk and Administrative Costs Charge of 1.30% during the surrender charge period for the initial premium and 1.10% after the surrender charge period for the initial premium and Fund Company Expenses. An Annual Policy Service Charge of $30 is not included, but will be deducted each year from the policy's Accumulation Value on the policy anniversary and upon surrender if on that date the Accumulation Value Is less than $100,000. The performance shown, t herefore, would be slightly lower if your policy's Accumulation Value is less than $100,000. Charges for any optional riders, if reflected, would reduce the performance shown. Non-Standardized Performance ("Assuming No Surrender") does not reflect the deduction of Surrender Charges. Standardized Performance ("Assuming Surrender") reflects the maximum Surrender Charge under the policy. The maximum Surrende r Charge for each premium payment is 8%, declining to 2% by the 7th year after that premium payment has been in the policy, with no surrender charge thereafter. Withdrawals and surrenders may be taxable transactions, and prior to age 59?, may be subject to a 10% IRS penalty (the penalt y tax is increased to 25% in the case of a distribution from a SIMPLE IRA within the first two years of your participation in the SIMPLE IRA plan). The Investment Divisions offered through the New York Life Premier Variable Annuity II and described herein are different fro m mutual funds that may have similar names but are available directly to the general public. Investment results may differ. In most jurisdictions, the policy form number for the New York Life Premier Variable Annuity II is ICC15 -P301 or it may be 215-P301.

Page 5 of 5

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