New York Life Elite Variable Annuity Performance Summary ...

New York Life Elite Variable Annuity Performance Summary As of August 31, 2020

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, MainStay VP Small Cap Growth ? Initial Class, MainStay VP Janus Balanced ? Initial Class and MainStay VP Mellon Natural Resources ? Initial Class). Performance for these classes/shares are 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, 2019. 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 Elite Variable Annuity was first offered for sale on September 29, 2003. Certain Portfolios existed prior to that 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. The New York Life Elite Variable Annuity differs from many other variable annuity policies in that the Mortality and Expense Risk and Administrative Costs Charge (M&E) is calculated as a percentage of your Adjusted Premium Payments under the policy (excluding premiums allocated to the Fixed Account), rather than as percentage of Separate Account assets. Therefore, the 1.70% M&E charge is not reflected in the performance of the Investment Divisions, but will be deducted quarterly by reducing the number of Accumulation Units in the Investment Divisions you have selected. Since market performance is reflected through fluctuations in the value of an Accumulation Unit, owning fewer Accumulation Units over time will result in a gradual reduction in the value of the Policy, regardless of market performance, when compared to the result of a traditional charge structure. Please refer to your prospectus for more details. The New York Life Elite Variable Annuity invests in New York Life Insurance and Annuity Corporation (NYLIAC) Variable Annuity Separate Account IV. 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 MacKay S&P 500 Index Portfolio. The MainStay VP MacKay S&P 500 Index Portfolio is not sponsored, endorsed, sold or promoted by Stan dard & Poor's and Standard and Poor's makes no representation regarding the advisability of investing in the MainStay VP MacKay S&P 500 Index Portfolio. Investors cannot invest directly in an Index. 6 New allocations to the MainStay VP Small Cap Growth ? Initial Class Investment Division will not be accepted from Policyowners w ho were not invested in the MainStay VP Small Cap Growth ? Initial Class on February 17, 2012. For existing Policyowners, if you remove all of your Accumulation Value from the MainStay VP Small Cap Growth ? Initial Class Investment Division on or after February 17, 2012, you will not be able to reinvest in this Investment Divisions. 7 New allocations to the MainStay VP Janus Henderson Balanced ? Initial Class Investment Division will not be accepted from Policyowners who were not invested in the MainStay VP Janus Henderson Balanced ? Initial Class on February 17, 2012. For existing Policyowners, if you remove all of your Accumulation Value from the MainStay VP Janus Henderson Balanced ? Initial Class Investment Division on or after February 17, 2012, you will not be able to reinvest in this Investment Divisions. The MainStay VP Janus Henderson Balanced ? Service Class imposes a 12b-1 fee. 8 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 suppor t to the fund at any time. 9 New allocations to the MainStay VP MacKay Growth, MainStay VP Emerging Markets Equity, MainStay VP T. Rowe Price Equity Income and Victory VIF Diversified Stock 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. 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 the New York Life Elite Variable Annuity 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 ("N YLIAC "), 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 Elite Variable Annuity Performance Summary Average Annual Total Return as of August 31, 2020 (Updated Monthly)

Portfolio

Investment Divisions1

Volatility/ Inception

Risk Level3

Date

Equity

MainStay VP MacKay Common Stock ? Service Class

High

6/2/2003

MainStay VP MacKay Growth ? Service Class9

High

2/13/2006

MainStay VP CBRE Global Infrastructure -- Service Class

Highest 5/1/2015

MainStay VP Growth Allocation ? Service Class

High

6/2/2003

MainStay VP MacKay International Equity ? Service Class

High

6/2/2003

MainStay VP Winslow Large Cap Growth ? Service Class

High

6/2/2003

MainStay VP MacKay Mid Cap Core ? Service Class

High

6/2/2003

MainStay VP MacKay S&P 500 Index ? Service Class5

High

6/2/2003

MainStay VP MacKay Small Cap Core - Service Class

High

5/2/2016

MainStay VP Eagle Small Cap Growth ? Service Class

High

2/17/2012

American Funds IS Global Small Cap Fund? ? Class 4

High

12/14/2012

American Funds IS Growth Fund - Class 4

High

12/14/2012

American Funds IS New World Fund - Class 4

Highest 12/14/2012

ClearBridge Variable Appreciation Portfolio -- Class II

High

2/28/2015

Columbia Variable Portfolio -- Commodity Strategy Fund -- Class 2

High

4/30/2013

Columbia Variable Portfolio ? Small Cap Value Fund--Class 2

High

6/1/2000

Delaware VIP Small Cap Value - Service Class

High

05/01/2000

BNY Mellon IP Technology Growth ? Service Shares

Highest 12/29/2000

Fidelity? VIP Contrafund? ? Service Class 2

High

1/12/2000

Fidelity? VIP Emerging Markets ? Service Class 2

Highest 01/23/2008

Fidelity? VIP Growth Opportunities ? Service Class 2

High

1/12/2000

Fidelity? VIP Health Care -- Service Class 2 Fidelity? VIP International Index -- Service Class 2

High High

04/30/2019 04/16/2018

Fidelity? VIP Mid Cap ? Service Class 2

High

1/12/2000

Invesco V.I. American Value Fund - Series II

High

5/5/2003

Invesco V.I. International Growth Fund - Series II

High

9/19/2001

Invesco Oppenheimer V.I. Main Street Small Cap Fund - Series II

High

07/16/2001

Janus Henderson VIT Enterprise Portfolio ? Service Shares

High

12/31/1999

Janus Henderson VIT Global Research Portfolio ? Service Shares

High

12/31/1999

Legg Mason/QS Aggressive Model Portfolio - Class II

High

05/01/2020

Legg Mason/QS Moderately Aggressive Model Portfolio - Class II

Moderate 05/01/2020

MFS? International Intrinsic Value Portfolio ? Service Class

High

8/31/2001

MFS? Mid Cap Value Portfolio - Service Class

High

03/07/2008

MFS? Research Series ? Service Class

High

5/1/2000

Neuberger Berman AMT Mid ? Cap Growth ? Class S

High

2/18/2003

MainStay VP Small Cap Growth ? Initial Class6 MainStay VP Emerging Markets Equity ? Service Class9

High Highest

2/17/2012 2/17/2012

MainStay VP Mellon Natural Resources ? Initial Class

Highest 2/17/2012

Morgan Stanley VIF U.S. Real Estate - Class II Victory VIF Diversified Stock ? Class A Shares9

High High

11/5/2002 7/1/1999

Equity and Income

MainStay VP Balanced ? Service Class

Moderate 5/1/2005

MainStay VP MacKay Convertible ? Service Class

Moderate 6/2/2003

MainStay VP Epoch U.S. Equity Yield ? Service Class

High

6/2/2003

MainStay VP Income Builder ? Service Class

Moderate 6/2/2003

MainStay VP IQ Hedge Multi-Strategy - Service Class

Moderate 5/1/2013

MainStay VP Moderate Allocation ? Service Class

Moderate 2/13/2006

MainStay VP Moderate Growth Allocation ? Service Class

High

2/13/2006

American Funds IS Asset Allocation Fund - Class 4

Moderate 12/14/2012

American Funds IS Blue Chip Income and Growth Fund - Class 4

High

12/14/2012

BlackRock? Global Allocation V.I. Fund ? Class III Shares

Moderate 11/18/2003

DWS Alternative Asset Allocation VIP - Class B MainStay VP Janus Henderson Balanced ? Initial Class7

Moderate 5/18/2009 Moderate 2/17/2012

Fidelity? VIP Equity ? Income ? Service Class 2 Fidelity? VIP FundsManager? 60% -- Service Class

High

1/12/2000

Moderate 08/22/2007

Legg Mason/QS Moderate Model Portfolio - Class II

Moderate 05/01/2020

Legg Mason/QS Moderately Conservative Model Portfolio - Class II

Moderate 05/01/2020

MainStay VP Janus Henderson Balanced ? Service Class

Moderate 2/17/2012

MFS? Investors Trust Series ? Service Class

High

5/1/2000

MainStay VP Fidelity Institutional AM? Utilities ? Service Class MainStay VP T. Rowe Price Equity Income ? Service Class9

High High

2/17/2012 2/17/2012

Income

MainStay VP Bond ? Service Class

Moderate 6/2/2003

MainStay VP U.S. Government Money Market ? Current 7-day yield is 0.01%8

Low

1/29/1993

MainStay VP Conservative Allocation ? Service Class

Moderate 2/13/2006

MainStay VP Floating Rate ? Service Class

Moderate 5/1/2005

MainStay VP MacKay Government ? Service Class

Moderate 6/2/2003

MainStay VP MacKay High Yield Corporate Bond ? Service Class

Moderate 6/2/2003

MainStay VP Indexed Bond ? Service Class

Moderate 5/1/2017

MainStay VP PIMCO Real Return ? Service Class

Moderate 2/17/2012

MainStay VP MacKay Unconstrained Bond ? Service Class

Moderate 5/1/2011

BlackRock? High Yield V.I. Fund ? Class III Shares

Moderate 2/15/2012

Columbia Variable Portfolio -- Emerging Markets Bond Fund -- Class 2

Moderate 4/30/2012

Legg Mason/QS Conservative Model Portfolio - Class II

Moderate 05/01/2020

PIMCO VIT Income Portfolio - Advisor Class

Moderate 04/29/2016

PIMCO VIT International Bond Portfolio (U.S. Dollar-Hedged) - Advisor Class

Moderate 5/1/2014

PIMCO VIT Low Duration Portfolio - Advisor Class

Low

3/31/2006

PIMCO VIT Total Return Portfolio - Advisor Class

Moderate 2/28/2006

Please read the important disclosures regarding the product performance on the following page.

Investment Division Inception Date1

9/29/2003 2/13/2006 5/1/2015 9/29/2003 9/29/2003 9/29/2003 9/29/2003 9/29/2003 5/2/2016 2/17/2012 5/1/2015 11/13/2017 5/1/2014 5/1/2017 5/1/2015 11/15/2004 11/13/2017 9/29/2003 9/29/2003 05/01/2018 5/1/2014

05/01/2019 05/01/2019 9/29/2003

5/1/2013 5/1/2014 05/01/2020 11/13/2017 9/29/2003 05/01/2020 05/01/2020 5/1/2017 05/01/2020 9/29/2003 9/29/2003 2/17/2012 2/17/2012 2/17/2012 5/1/2013 5/1/2004

5/1/2005 9/29/2003 9/29/2003 9/29/2003 5/1/2013 2/13/2006 2/13/2006 05/01/2018 11/13/2017 5/1/2011 5/2/2016 2/17/2012 9/29/2003

05/01/2019 05/01/2020 05/01/2020 2/17/2012 9/29/2003 2/17/2012

2/17/2012

9/29/2003 5/1/1995 2/13/2006 5/1/2005 9/29/2003 9/29/2003 5/1/2017 2/17/2012 5/1/2011 5/1/2014 5/1/2015 05/01/2020 05/01/2020 5/1/2014 5/2/2016 5/1/2014

Month to Date*

6.87% 9.71% 0.19% 5.61% 4.64% 10.40% 3.55% 7.15% 3.69% 5.86% 4.41% 10.85% 4.73% 7.56% 6.05% 6.72% 3.53% 13.54% 8.56% 2.15% 12.01% 1.56% 4.43% 6.34% 2.46% 4.10% 4.48% 4.11% 7.46% 5.24% 3.91% 2.97% 2.83% 6.52% 2.84% 5.89% 2.59% 4.08% 1.07% 7.37%

2.04% 3.98% 3.65% 2.15% 1.17% 3.06% 4.23% 2.68% 5.44% 3.91% 2.50% 5.05% 3.67% 3.31% 3.01% 2.21% 5.03% 5.98% -2.52% 3.24%

-0.52% 0.00% 1.81% 1.12% -0.11% 1.06% -0.93% 1.25% 0.89% 0.80% 0.84% 1.32% 1.29% 0.07% 0.34% -0.21%

Non-Standardized (Assuming No Surrender)2

Year to

Date*

(Updated Monthly)

1 Year4

3 Year4

5 Year4

10 Year4

7.78% 25.13% -18.64% 2.59% 6.64% 31.57% -4.29% 9.47% -11.18% 12.49% 5.45% 33.13% 6.33% 6.92% -7.30% -15.14% -21.55% 55.83% 26.41% 6.87% 47.19% 11.58%

-3.47% -1.61% -15.25% 1.07% -3.15% 2.12% 8.32%

N/A N/A 9.60% -10.84% 8.83% 17.61% 12.68%

5.93% -8.95% -26.10%

6.79%

18.97% 37.58% -13.70% 12.63% 19.60% 41.54% 3.25% 21.46% -1.44% 21.67% 15.71% 50.40% 18.34% 17.02% -1.76% -1.30% -10.85% 67.15% 37.29% 21.27% 63.37% 30.21%

7.78% 8.53% -4.85% 10.44% 8.68% 9.17% 20.20%

N/A N/A 19.68% -0.74% 17.88% 21.84% 21.97%

19.68% 0.08% -22.55%

18.72%

11.91% 19.67% -9.07% 6.45% 8.24% 24.24% 4.15% 14.06% -0.88% 11.96% 10.02% 22.87% 7.68% 13.56% -3.52% -2.19% -2.55% 27.94% 18.15% 7.35% 35.31% 15.47%

N/A 4.58% 0.69% 5.05% 5.63% 14.06% 11.59%

N/A N/A 10.08% 3.69% 13.94% 16.86% 12.24%

2.07% -4.24% -5.40%

10.60%

12.06% 15.68% -5.80% 7.89% 9.38% 19.46% 6.18% 13.93%

N/A 11.22% 8.56% 20.23% 10.26% 13.18% -3.10% 4.32% 3.75% 24.79% 15.81% 11.59% 26.62% 11.10%

N/A 6.61% 1.76% 6.50% 7.48% 14.80% 10.57%

N/A N/A 11.06% 5.87% 13.47% 12.44% 11.50%

7.99% -2.26% -0.67%

9.27%

14.17% 14.55%

N/A 10.02% 6.98% 17.89% 11.60% 14.58%

N/A N/A 9.14% 17.49% 6.31% 13.62% N/A 8.24% 8.63% 19.13% 15.26% 5.65% 22.93% 19.76%

N/A 9.42% 8.38% 6.94% 12.15% 15.88% 10.43%

N/A N/A 11.39% 11.05% 14.37% 14.54% N/A

N/A -2.47% 5.02%

11.39%

-1.27% 17.21% -8.59% 0.81% 1.16% 4.82% 2.73% 4.31% -0.86% 9.69% -2.15% 8.79% -5.25% 6.78%

N/A N/A 8.61% 5.05% -11.64%

-13.34%

3.88% 24.11% -1.67% 5.69% 4.68% 10.97% 10.95% 11.90% 9.87% 17.15% 1.27% 15.72% 4.31% 13.78%

N/A N/A 15.43% 13.57% -7.36%

-3.92%

3.69% 13.34% 4.71% 5.22% 0.34% 5.91% 5.85% 7.74% 6.71% 7.18% 1.10% 12.82% 5.86% 8.03%

N/A N/A 12.54% 12.00% 2.72%

2.55%

5.18% 11.53% 6.02% 6.54% -0.39% 6.64% 7.10% 9.47% 9.11% 7.08% 2.23% 11.29% 8.04% 8.25%

N/A N/A 11.02% 12.01% 4.94%

6.59%

7.97% 10.93% 9.39% 8.54%

N/A 7.88% 9.03% 10.55% 11.62% 6.76% 2.42%

N/A 10.80% 8.57%

N/A N/A 10.41% 13.36% 8.25%

9.32%

6.50%

0.23% 5.33% -1.52% 4.65% 0.83% 6.79% 9.82% 2.69% 2.03% 1.82%

N/A 2.34% 2.55% 2.58% 7.33%

6.03%

0.69% 9.30% 0.62% 4.36% 3.92% 6.07% 9.58% 3.94% 5.18% 3.11%

N/A 5.31% 1.36% 2.85% 6.65%

4.60%

1.21% 5.23% 2.49% 2.96% 4.40% 4.43% 5.27% 2.98% 4.87% 2.27%

N/A 4.02% 4.02% 2.20% 4.78%

4.11%

0.77% 5.65% 3.12% 2.38% 5.91%

N/A 4.27% 3.50% 5.57% 5.45%

N/A N/A 4.31% 1.83% 4.38%

3.43%

0.39% 6.53% 3.51% 2.14% 6.30%

N/A 3.15%

N/A 6.56%

N/A N/A N/A 4.66% 1.76% 3.68%

Page 2 of 5

Since Investment

Division Inception

9.11% 8.80% -8.01% 6.27% 7.01% 10.84% 8.88% 9.33% 4.19% 10.05% 7.44% 22.56% 5.73% 13.30% -5.34% 5.87% -4.99% 12.66% 11.09% 6.10% 23.09% 26.46% 2.93% 9.76% 4.42% 3.89% 25.18% 12.79% 6.88% 18.84% 15.61% 11.17% 18.28% 9.86% 10.98% 10.33% 0.72% -5.96% 0.75% 7.50%

5.83% 8.74% 6.85% 6.50% -1.29% 5.97% 6.18% 8.45% 5.44% 5.25% 2.22% 10.29% 6.77% 11.78% 11.99% 10.02% 10.01% 8.99% 6.71%

7.79%

4.22% 1.14% 5.55% 3.37% 3.25% 6.73% 4.49% 2.15% 3.62% 4.38% 4.20% 7.16% 7.97% 4.41% 1.98% 3.89%

1 Year4

10.97% 29.58% -20.61% 4.63% 11.60% 33.54% -4.75% 13.46% -9.32% 13.67% 7.71% 42.40% 10.34% 9.02% -9.62% -9.20% -17.98% 59.15% 29.29% 13.27% 55.37% 22.21% -0.22% 0.53% -12.47% 2.44% 0.68% 1.17% 12.20%

N/A N/A 11.68% -8.68% 9.88% 13.84% 13.97% 11.68% -7.92% -28.75% 10.72%

-4.12% 16.11% -9.53% -2.31% -3.32% 2.97% 2.95% 3.90% 1.87% 9.15% -6.73% 7.72% -3.69% 5.78%

N/A N/A 7.43% 5.57% -14.77%

-11.61%

-1.97% -7.31% 1.30% -7.38% -3.64% -4.08% -1.93% 1.58% -4.06% -2.82% -4.89%

N/A -2.69% -6.64% -5.15% -1.35%

Standardized (Assuming Surrender)

3 Year4

5 Year4

10 Year4

Since Investment

Division

Inception

9.74% 17.78% -11.57% 4.04% 5.91% 22.48% 1.64% 11.97% -3.59% 9.79% 7.77% 21.08% 5.33% 11.46% -6.17% -4.87% -5.23% 26.29% 16.21% 4.99% 33.84% 13.44%

N/A 2.08% -2.01% 2.58% 3.19% 11.97% 9.41%

N/A N/A 7.84% 1.15% 11.85% 14.88% 10.08%

-0.56% -6.86% -7.99%

8.38%

11.28% 15.00% -6.96% 6.99% 8.53% 18.86% 5.21% 13.21%

N/A 10.42% 7.69% 19.65% 9.44% 12.44% -4.29% 3.29% 2.70% 24.29% 15.14% 10.81% 26.15% 10.30%

N/A 5.67% 0.62% 5.55% 6.57% 14.10% 9.75%

N/A N/A 10.26% 4.90% 12.74% 11.68% 10.71%

7.09% -3.46% -1.89%

8.41%

14.17% 14.55%

N/A 10.02% 6.98% 17.89% 11.60% 14.58%

N/A N/A 9.14% 17.42% 6.31% 13.53% N/A 8.24% 8.49% 19.13% 15.26% 5.47% 22.93% 19.70%

N/A 9.42% 8.38% 6.94% 12.05% 15.80% 10.43%

N/A N/A 11.28% 10.93% 14.37% 14.54% N/A

N/A -2.47% 5.02%

11.39%

9.11% 8.80% -8.89% 6.27% 7.01% 10.84% 8.88% 9.33% 2.96% 10.05% 6.74% 20.55% 5.26% 11.71% -6.24% 5.87% -7.78% 12.66% 11.09% 2.87% 22.88% 20.89%

-3.06% 9.76% 4.11% 3.37% 17.18% 10.44% 6.88% 10.84% 7.61% 9.50% 10.28% 9.86% 10.98% 10.33%

0.72% -5.96% 0.36%

7.50%

1.15% 11.22% 2.22% 2.75% -2.38% 3.48% 3.42% 5.39% 4.31% 4.80% -1.58% 10.69% 3.43% 5.69%

N/A N/A 10.39% 9.84% 0.13%

-0.05%

4.18% 10.75% 5.05% 5.59% -1.61% 5.69% 6.18% 8.62% 8.25% 6.15% 1.11% 10.50% 7.15% 7.36%

N/A N/A 10.21% 11.24% 3.93%

5.64%

7.97% 10.93% 9.39% 8.54%

N/A 7.88% 9.03% 10.43% 11.51% 6.76% 2.18%

N/A 10.80% 8.43%

N/A N/A 10.41% 13.36% 8.25%

9.32%

5.83% 8.74% 6.85% 6.50% -1.70% 5.97% 6.18% 5.32% 2.79% 5.25% 0.91% 10.29% 6.77% 5.97% 3.99% 2.02% 10.01% 8.99% 6.71%

7.79%

2.10%

-1.47% 2.76% -0.11% 0.38% 1.89% 1.92% 2.81% 0.40% 2.38% -0.35%

N/A 1.50% 1.49% -0.42% 2.29%

3.07%

-0.42% 4.67% 2.04% 1.26% 4.94%

N/A 3.23% 2.43% 4.59% 4.46%

N/A N/A 3.27% 0.69% 3.35%

3.43%

0.39% 6.53% 3.51% 2.14% 6.30%

N/A 3.15%

N/A 6.56%

N/A N/A N/A 4.66% 1.50% 3.68%

4.22%

1.14% 5.55% 3.37% 3.25% 6.73% 2.55% 2.15% 3.62% 3.87% 3.41% -0.84% -0.03% 3.90% 0.65% 3.37%

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 premium payment(s). For current to the m ost 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 the Fund Company Expenses. An Annual Policy Service Charge of $30 is not included in these charges, 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, therefore, 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 Surrender Charge for each premium payment is 8%, declining to 3% (or 2% for single premium policies) by the 8th 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 penalty tax is increased to 25% in the case of a distribution from a SIMPLE IRA within the first two years of your participation in th e SIMPLE IRA plan). The Investment Divisions offered through the New York Life Elite Variable Annuity and described herein are different from mut ual funds that may have similar names but are available directly to the general public. Investment results may differ. *In certain jurisdictions, this product will be sold as a single premium variable annuity. In most jurisdictions, the policy form number for the New York Life Elite Variable Annuity is 203-193.

Page 3 of 5

New York Life Elite Variable Annuity Performance Summary Average Annual Total Return as of June 30, 2020 (Updated Quarterly)

Portfolio

Investment Divisions1

Volatility/ Inception

Risk Level3

Date

Equity

MainStay VP MacKay Common Stock ? Service Class MainStay VP MacKay Growth ? Service Class9

High High

6/2/2003 2/13/2006

MainStay VP CBRE Global Infrastructure -- Service Class

Highest 5/1/2015

MainStay VP Growth Allocation ? Service Class

High

6/2/2003

MainStay VP MacKay International Equity ? Service Class

High

6/2/2003

MainStay VP Winslow Large Cap Growth ? Service Class

High

6/2/2003

MainStay VP MacKay Mid Cap Core ? Service Class MainStay VP MacKay S&P 500 Index ? Service Class5

High High

6/2/2003 6/2/2003

MainStay VP MacKay Small Cap Core - Service Class

High

5/2/2016

MainStay VP Small Cap Growth ? Service Class American Funds IS Global Small Cap Fund? ? Class 4

High High

2/17/2012 12/14/2012

American Funds IS Growth Fund - Class 4

High

12/14/2012

American Funds IS New World Fund - Class 4

Highest 12/14/2012

ClearBridge Variable Appreciation Portfolio -- Class II

High

2/28/2015

Columbia Variable Portfolio -- Commodity Strategy Fund -- Class 2

High

4/30/2013

Columbia Variable Portfolio ? Small Cap Value Fund--Class 2

High

6/1/2000

Delaware VIP Small Cap Value - Service Class

High

05/01/2000

BNY Mellon IP Technology Growth ? Service Shares

Highest 12/29/2000

Fidelity? VIP Contrafund? ? Service Class 2

High

1/12/2000

Fidelity? VIP Emerging Markets ? Service Class 2

Highest 01/23/2008

Fidelity? VIP Growth Opportunities ? Service Class 2 Fidelity? VIP Health Care -- Service Class 2 Fidelity? VIP International Index -- Service Class 2

High High High

1/12/2000 04/30/2019 04/16/2018

Fidelity? VIP Mid Cap ? Service Class 2

High

1/12/2000

Invesco V.I. American Value Fund - Series II

High

5/5/2003

Invesco V.I. International Growth Fund - Series II

High

9/19/2001

Invesco Oppenheimer V.I. Main Street Small Cap Fund - Series II

High

07/16/2001

Janus Henderson VIT Enterprise Portfolio ? Service Shares

High

12/31/1999

Janus Henderson VIT Global Research Portfolio ? Service Shares

High

12/31/1999

Legg Mason/QS Aggressive Model Portfolio - Class II

High

05/01/2020

Legg Mason/QS Moderately Aggressive Model Portfolio - Class II

Moderate 05/01/2020

MFS? International Intrinsic Value Portfolio ? Service Class

High

8/31/2001

MFS? Mid Cap Value Portfolio - Service Class

High

03/07/2008

MFS? Research Series ? Service Class

High

5/1/2000

Neuberger Berman AMT Mid ? Cap Growth ? Class S MainStay VP Small Cap Growth ? Initial Class6 MainStay VP Emerging Markets Equity ? Service Class9

High High Highest

2/18/2003 2/17/2012 2/17/2012

MainStay VP Mellon Natural Resources ? Initial Class

Highest 2/17/2012

Morgan Stanley VIF U.S. Real Estate - Class II Victory VIF Diversified Stock ? Class A Shares9

High High

11/5/2002 7/1/1999

Equity and Income

MainStay VP Balanced ? Service Class

Moderate 5/1/2005

MainStay VP MacKay Convertible ? Service Class

Moderate 6/2/2003

MainStay VP Epoch U.S. Equity Yield ? Service Class

High

6/2/2003

MainStay VP Income Builder ? Service Class

Moderate 6/2/2003

MainStay VP IQ Hedge Multi-Strategy - Service Class

Moderate 5/1/2013

MainStay VP Moderate Allocation ? Service Class

Moderate 2/13/2006

MainStay VP Moderate Growth Allocation ? Service Class

High

2/13/2006

American Funds IS Asset Allocation Fund - Class 4

Moderate 12/14/2012

American Funds IS Blue Chip Income and Growth Fund - Class 4

High

12/14/2012

BlackRock? Global Allocation V.I. Fund ? Class III Shares

Moderate 11/18/2003

DWS Alternative Asset Allocation VIP - Class B MainStay VP Janus Henderson Balanced ? Initial Class7

Moderate 5/18/2009 Moderate 2/17/2012

Fidelity? VIP Equity ? Income ? Service Class 2 Fidelity? VIP FundsManager? 60% -- Service Class

High

1/12/2000

Moderate 08/22/2007

Legg Mason/QS Moderate Model Portfolio - Class II

Moderate 05/01/2020

Legg Mason/QS Moderately Conservative Model Portfolio - Class II

Moderate 05/01/2020

MainStay VP Janus Henderson Balanced ? Service Class

Moderate 2/17/2012

MFS? Investors Trust Series ? Service Class

MainStay VP Fidelity Institutional AM? Utilities ? Service Class MainStay VP T. Rowe Price Equity Income ? Service Class9

High High High

5/1/2000 2/17/2012 2/17/2012

Income

MainStay VP Bond ? Service Class MainStay VP U.S. Government Money Market ? Current 7-day yield is 0.01%8

Moderate 6/2/2003

Low

1/29/1993

MainStay VP Conservative Allocation ? Service Class

Moderate 2/13/2006

MainStay VP Floating Rate ? Service Class

Moderate 5/1/2005

MainStay VP MacKay Government ? Service Class

Moderate 6/2/2003

MainStay VP MacKay High Yield Corporate Bond ? Service Class

Moderate 6/2/2003

MainStay VP Indexed Bond ? Service Class

Moderate 5/1/2017

MainStay VP PIMCO Real Return ? Service Class

Moderate 2/17/2012

MainStay VP MacKay Unconstrained Bond ? Service Class

Moderate 5/1/2011

BlackRock? High Yield V.I. Fund ? Class III Shares

Moderate 2/15/2012

Columbia Variable Portfolio -- Emerging Markets Bond Fund -- Class 2

Moderate 4/30/2012

Legg Mason/QS Conservative Model Portfolio - Class II

Moderate 05/01/2020

PIMCO VIT Income Portfolio - Advisor Class

Moderate 04/29/2016

PIMCO VIT International Bond Portfolio (U.S. Dollar-Hedged) - Advisor Class

Moderate 5/1/2014

PIMCO VIT Low Duration Portfolio - Advisor Class PIMCO VIT Total Return Portfolio - Advisor Class

Low

3/31/2006

Moderate 2/28/2006

Please read the important disclosures regarding the product performance on the following page.

Investment Division Inception Date1

9/29/2003 2/13/2006 5/1/2015 9/29/2003 9/29/2003 9/29/2003 9/29/2003 9/29/2003 5/2/2016 2/17/2012 5/1/2015 11/13/2017 5/1/2014 5/1/2017 5/1/2015 11/15/2004 11/13/2017 9/29/2003 9/29/2003 05/01/2018 5/1/2014

05/01/2019 05/01/2019 9/29/2003

5/1/2013 5/1/2014 05/01/2020 11/13/2017 9/29/2003 05/01/2020 05/01/2020 5/1/2017 05/01/2020 9/29/2003 9/29/2003 2/17/2012 2/17/2012 2/17/2012 5/1/2013 5/1/2004

5/1/2005 9/29/2003 9/29/2003 9/29/2003 5/1/2013 2/13/2006 2/13/2006 05/01/2018 11/13/2017 5/1/2011 5/2/2016 2/17/2012 9/29/2003

05/01/2019 05/01/2020 05/01/2020 2/17/2012 9/29/2003 2/17/2012

2/17/2012

9/29/2003 5/1/1995 2/13/2006 5/1/2005 9/29/2003 9/29/2003 5/1/2017 2/17/2012 5/1/2011 5/1/2014 5/1/2015 05/01/2020 05/01/2020 5/1/2014 5/2/2016 5/1/2014

Non-Standardized (Assuming No Surrender)2

Since

Investment

1 Year4

3 Year4

5 Year4

10 Year4

Division Inception

1 Year4

4.78% 18.15% -27.41% -0.32% 5.94% 21.48% -6.62% 7.08% -13.09% 5.15% 5.54% 25.19% 3.61% 3.49% -15.67% -14.95% -19.30% 29.92% 19.25% 2.87% 35.47% 22.17%

-4.31% -8.24% -14.11% -1.82% -3.43% -0.59% 4.78%

N/A N/A 8.13% -9.76% 6.42% 11.85% 5.42%

0.32% -15.94% -23.57%

3.25%

8.53% 15.23% -10.79% 3.77% 5.51% 19.87% 1.80% 10.27% -3.24% 8.00% 8.04% 17.37% 6.07% 9.69% -6.50% -4.50% -5.17% 21.75% 13.44% 6.03% 28.93% 14.95%

N/A 0.52% -2.18% 2.36% 2.11% 11.59% 8.14%

N/A N/A 7.67% 0.73% 10.70% 13.75% 8.27%

1.32% -7.23% -6.20%

6.86%

8.50% 11.10% -8.13% 4.34% 5.77% 15.11% 3.24% 10.21%

N/A 7.16% 4.63% 15.38% 5.90% 9.45% -7.73% 1.61% 1.06% 18.42% 11.26% 6.33% 20.96% 9.03%

N/A 2.98% -1.10% 2.77% 4.00% 11.73% 6.70%

N/A N/A 8.58% 3.43% 10.06% 9.45% 7.42%

2.06% -8.20% -1.22%

6.03%

12.95% 12.93%

N/A 9.20% 6.43% 16.43% 10.79% 13.41%

N/A N/A 8.66% 15.66% 5.90% 12.40% N/A 7.34% 8.19% 17.39% 13.80% 5.16% 20.84% 19.02%

N/A 8.55% 7.74% 6.38% 10.97% 15.20% 9.58%

N/A N/A 10.88% 10.40% 13.33% 13.56% N/A

N/A -3.06% 5.70%

10.22%

8.44% 7.86% -8.88% 5.59% 6.40% 9.89% 8.42% 8.62% 2.55% 8.76% 5.87% 16.21% 4.10% 9.58% -7.68% 5.46% -7.40% 11.29% 10.24% 1.18% 20.00% 26.72%

-3.27% 9.08% 3.68% 2.37% 14.46% 9.69% 6.20% 7.40% 6.72% 8.82% 9.66% 9.23% 10.42% 9.03%

-0.71% -7.38% 0.54%

6.68%

-3.22% 10.15% -33.22% -8.29% -2.06% 13.48% -14.09% -0.92% -20.04% -2.85% -2.46% 17.19% -4.39% -4.51% -22.42% -21.75% -25.76% 21.92% 11.25% -5.13% 27.47% 14.17%

-11.96% -15.58% -20.98% -9.67% -11.16% -8.54% -3.22%

N/A N/A 0.13% -16.98% -1.58% 3.85% -2.58%

-7.68% -22.67% -29.68%

-4.75%

-1.81% 11.89% -7.57% 1.20% 1.22% 3.60% 0.70% 6.26% -0.06% 6.78% -3.32% 8.53% -4.03% 6.50%

N/A N/A 8.26% 3.23% -7.05%

-11.90%

2.38% 9.89% 2.86% 3.80% 0.12% 4.41% 3.75% 6.67% 3.72% 4.88% -0.08% 10.39% 3.28% 6.36%

N/A N/A 10.12% 8.88% 3.45%

0.42%

3.51% 8.49% 3.11% 4.70% -1.65% 4.45% 4.23% 7.51% 6.27% 4.40% 0.48% 8.80% 5.07% 5.98%

N/A N/A 8.53% 9.00% 3.18%

3.68%

7.65% 10.17% 8.79% 8.40%

N/A 7.45% 8.41% 10.10% 10.90% 6.15% 2.27%

N/A 10.09% 8.09%

N/A N/A 9.70% 12.32% 8.70%

8.79%

5.56% 8.20% 6.48% 6.22% -1.71% 5.56% 5.64% 6.19% 2.63% 4.34% 0.97% 9.37% 6.33% 7.06% 5.05% 4.46% 9.10% 8.42% 6.49%

7.05%

-9.66% 3.89% -14.97% -6.80% -6.78% -4.40% -7.30% -1.74% -8.05% -1.22% -11.06% 0.53% -11.71% -1.50%

N/A N/A 0.26% -4.77% -14.49%

-18.94%

7.74%

1.02% 4.85% -1.89% 5.48% -0.46% 8.52% 8.03% 1.81% 1.07% -1.92%

N/A 1.43% 2.46% 3.19% 8.24%

4.67%

1.24% 4.27% 1.66% 3.14% 3.07% 4.70% 4.49% 2.19% 3.39% 1.59%

N/A 3.48% 4.00% 2.29% 5.02%

3.97%

0.77% 4.13% 2.41% 2.38% 4.52%

N/A 3.29% 2.57% 4.15% 3.91%

N/A N/A 4.21% 1.66% 4.21%

3.56%

0.39% 6.30% 3.37% 2.28% 6.08%

N/A 3.02%

N/A 6.30%

N/A N/A N/A 4.84% 1.85% 3.85%

4.19%

1.15% 5.28% 3.20% 3.26% 6.48% 4.60% 1.75% 3.35% 3.59% 3.38% 3.18% 4.70% 4.31% 1.93% 3.81%

-0.26%

-6.98% -3.15% -9.74% -2.52% -8.42% 0.52% 0.03% -6.19% -6.93% -9.76%

N/A -6.57% -5.54% -4.81% 0.24%

Page 4 of 5

Standardized (Assuming Surrender)

3 Year4

5 Year4

10 Year4

Since Investment

Division

Inception

6.21% 13.18% -13.24% 1.23% 3.06% 17.98% -0.84% 8.04% -5.89% 5.67% 5.71% 15.40% 3.64% 7.43% -9.06% -7.12% -7.77% 19.92% 11.33% 3.60% 27.30% 12.90%

N/A -2.19% -4.86% -0.25% -0.52% 9.41% 5.81%

N/A N/A 5.31% -1.97% 8.48% 11.65% 5.95%

-1.34% -9.77% -8.77%

4.47%

7.62% 10.30% -9.26% 3.31% 4.79% 14.42% 2.16% 9.38%

N/A 6.23% 3.61% 14.70% 4.93% 8.60% -8.87% 0.46% -0.12% 17.80% 10.47% 5.37% 20.39% 8.17%

N/A 1.89% -2.31% 1.67% 2.96% 10.95% 5.75%

N/A N/A 7.70% 2.36% 9.23% 8.60% 6.51%

0.93% -9.33% -2.43%

5.07%

12.95% 12.93%

N/A 9.20% 6.43% 16.43% 10.79% 13.41%

N/A N/A 8.66% 15.57% 5.90% 12.29% N/A 7.34% 8.04% 17.39% 13.80% 4.97% 20.84% 18.96%

N/A 8.55% 7.74% 6.38% 10.85% 15.11% 9.58%

N/A N/A 10.76% 10.28% 13.33% 13.56% N/A

N/A -3.06% 5.70%

10.22%

8.44% 7.86% -9.78% 5.59% 6.40% 9.89% 8.42% 8.62% 1.19% 8.76% 5.10% 13.79% 3.56% 7.74% -8.60% 5.46% -10.29% 11.29% 10.24% -2.54% 19.74% 20.10%

-9.94% 9.08% 3.34% 1.79% 6.46% 7.02% 6.20% -0.60% -1.28% 6.94% 1.66% 9.23% 10.42% 9.03%

-0.71% -7.38% 0.13%

6.68%

-0.23% 7.64% 0.27% 1.27% -2.62% 1.90% 1.21% 4.28% 1.18% 2.40% -2.82% 8.16% 0.71% 3.94%

N/A N/A 7.87% 6.59% 0.90%

-2.30%

2.44% 7.61% 2.02% 3.68% -2.86% 3.42% 3.19% 6.59% 5.32% 3.37% -0.73% 7.93% 4.06% 5.02%

N/A N/A 7.65% 8.14% 2.10%

2.62%

7.65% 10.17% 8.79% 8.40%

N/A 7.45% 8.41% 9.97% 10.78% 6.15% 2.03%

N/A 10.09% 7.94%

N/A N/A 9.70% 12.32% 8.70%

8.79%

5.56% 8.20% 6.48% 6.22% -2.13% 5.56% 5.64% 2.68% -0.35% 4.34% -0.46% 9.37% 6.33% 0.25% -2.95% -3.54% 9.10% 8.42% 6.49%

7.05%

2.18%

-1.43% 1.76% -0.99% 0.56% 0.50% 2.21% 1.99% -0.43% 0.83% -1.07%

N/A 0.93% 1.48% -0.33% 2.55%

2.92%

-0.42% 3.09% 1.30% 1.26% 3.49%

N/A 2.22% 1.46% 3.11% 2.86%

N/A N/A 3.17% 0.51% 3.17%

3.56%

0.39% 6.30% 3.37% 2.28% 6.08%

N/A 3.02%

N/A 6.30%

N/A N/A N/A 4.84% 1.59% 3.85%

4.19%

1.15% 5.28% 3.20% 3.26% 6.48% 2.55% 1.75% 3.35% 3.04% 2.53% -4.82% -3.30% 3.78% 0.55% 3.27%

Performance data quoted represents past performance. Past performance is no guarantee of future results. Due to market volatility, 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 premium 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 the Fund Company Expenses. An Annual Policy Service Charge of $30 is not included in these charges, 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, therefore, 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 Surrender Charge for each premium payment is 8%, declining to 3% (or 2% for single premium policies) by the 8th 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 penalty tax is increased to 25% in the case of a distribution from a SIMPLE IRA within the first two years of your participation in th e SIMPLE IRA plan). The Investment Divisions offered through the New York Life Elite Variable Annuity and described herein are different from mutual funds that may have similar names but are available directly to the general public. Investment results may differ. *In certain jurisdictions, this product will be sold as a single premium variable annuity. In most jurisdictions, the policy form number for the New York Life Elite Variable Annuity is 203-193.

Page 5 of 5

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