Lincoln Financial Group named 2023 "Best Variable Index Annuity Carrier" by Structured Retail Products Americas

Lincoln Level Advantage^® indexed-linked annuity recognized by SRP for the third time.

Lincoln Financial Group (NYSE:LNC) has been named the 2023 "Best Variable Index Annuity Carrier" by Structured Retail Products (SRP) Americas, a leading provider of structured products data and intelligence, for a third time.

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Lincoln Financial named FIA/VIA Carrier of the Year at SRP Americas Awards 2023 (Graphic: Business Wire)

Lincoln was recognized for its best-selling registered indexed-linked annuity (RILA), Lincoln Level Advantage ^®, which also earned the award in 2019 and 2021. The "Best Variable Index Annuity Carrier" award recipient was determined based on product innovation, understanding of client needs and after sales service and product data.

"We are honored to, once again, be recognized by SRP with this award," said Tim Seifert, senior vice president and head of Retirement Solutions Distribution at Lincoln Financial. "Our team works very hard to meet client and advisor expectations by simplifying all aspects of the Lincoln Level Advantage service experience. These service innovations have led us to help more than 115,000 investors protect and grow their portfolios since the product's launch more than five years ago."

Since launching in May 2018, Lincoln Level Advantage has been Lincoln's most successful product launch to-date, with more than $20 billion in lifetime sales. The RILA provides investors the ability to tailor a combination of protection levels with indexed account options to help meet their risk tolerance, individual investment style and retirement income planning goals. Over the past five years, the product has evolved to help protect their assets against market declines while enabling them to accumulate growth on the upside.

"Lincoln Level Advantage has continually evolved with enhancements to meet the changing market environment and investor needs. Today, we offer a broad range of indexed account options with innovative crediting strategies to help protect investors' assets in a way that aligns with their personal risk levels," said Dan Herr, senior vice president, annuity product management at Lincoln Financial. "Congratulations to everyone on Team Lincoln who helped make Lincoln Level Advantage a three-time winner of this award!"

Lincoln Level Advantage has been lauded by investors and the industry alike, previously earning recognition from Structured Retail Products in 2019 and 2021, regarded the number one selling registered index-linked annuity in the industry for 2020 and named in Barron's annual "The 100 Best Annuities for Today's Market" feature more times than any other RILA.

For more information about Lincoln Level Advantage indexed variable annuity, visit www.LFG.com/LevelAdvantage.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. As of December 31, 2022, approximately 16 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, and guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $299.2 billion in end-of-period account balances, net of reinsurance as of June 30, 2023. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and ranks among Newsweek's Most Responsible Companies. Dedicated to diversity, equity and inclusion, we are included on transparency benchmarking tools such as the Corporate Equality Index, the Disability Equality Index and the Bloomberg Gender-Equality Index. Committed to providing our employees with flexible work arrangements, we were named to FlexJobs' list of the Top 100 Companies to Watch for Remote Jobs in 2022. With a long and rich legacy of acting ethically, telling the truth and speaking up for what is right, Lincoln was recognized as one of Ethisphere's 2023 World's Most Ethical Companies®. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

Important Information:

Lincoln Financial Group^® affiliates, their distributors, and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Please consult an independent advisor as to any tax, accounting, or legal statements made herein.

Lincoln Level Advantage^® indexed variable annuity is a long-term investment product designed for retirement purposes. There are no explicit fees associated with the indexed-linked account options available. There are associated fees with the variable annuity subaccounts, which include a product charge, and administrative fees. Annuities are subject to market risk including loss of principal. Withdrawals are subject to ordinary income tax treatment and, if taken prior to age 59½ in nonqualified contracts, may be subject to an additional 10% federal tax.

Indexed-linked variable annuity products are complex insurance and investment vehicles and are subject to surrender charges for early withdrawals. Please reference the prospectus for information about the levels of protection available and other important product information.

Any distribution or transfer from an indexed account (other than on the term end date) is based on the interim value of each indexed segment. This value is based on a formula and may not correspond to the current performance of the index you selected. Any distribution or transfer during a term will have a negative impact on the value at the end of the term. This reduction could be larger than the dollar amount of the distribution or transfer. See prospectus for details.

The risk of loss occurs each time you move into a new indexed account after the end of an indexed term. The protection level option selected in the indexed account helps protect you from some downside risk. If the negative return is in excess of the protection level selected, there is a risk of loss of principal.

Investors are advised to consider the investment objectives, risks, and charges and expenses of the variable annuity and its underlying investment options carefully before investing. The applicable prospectuses contain this and other important information about the variable annuity and its underlying investment options. Please call 888-868-2583 for free prospectuses. Read them carefully before investing or sending money. Products and features are subject to state availability.

Lincoln Level Advantage^® indexed variable annuities (contract form 30070-B, 30070-A and state variations) are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.

All contract and rider guarantees, including those for optional benefits, payment from the indexed accounts, or annuity payout rates, are subject to the claims-paying ability of the issuing insurance company. They are not backed by the broker-dealer or insurance agency from which this annuity is purchased, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer.

This product and the components and features contained within are not available in all states or firms.

There is no additional tax-deferral benefit for an annuity contract purchased in an IRA or other tax-qualified plan.

Contract form 30070-BID, 30070-AID in Idaho.

Not available in New York.

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.

© 2023 Lincoln National Corporation. All rights reserved.

LCN-5971005-092223

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