The 1-Year Point-to-Point Indexed Account

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1 Lincoln LifeReserve Indexed Universal Life Accumulator The -Year Point-to-Point Indexed Account Protection and growth potential with guaranteed interest The Lincoln National Life Insurance Company Not a deposit Not FDIC-insured May go down in value Not insured by any federal government agency Not guaranteed by any bank or savings association At-A-Glance LIFE SOLUTIONS

2 Enjoy growth potential with protection from losses The -Year Point-to-Point Indexed Account The power of one % guaranteed minimum When the index percentage change is less than %, your account is still credited a full %. Lucky 3 Growth potential to 3% When the change for the one-year period is positive, your account is credited a positive rate, up to a 3% current cap. Cash value growth tied to the S&P 500 Index Cash value growth is linked to one index only. Simple tracking. No need to decide among multiple indices. Locked-in gains Your policy s cash value always earns interest. More great news You ll have no indexed account allocation constraints. You can put 00% of your premium in any of these accounts or spread it among them it s your choice. For policy charges taken from an indexed account, an Index Bonus will be credited if the monthly deduction reduces the value of any indexed account and the policy value is greater than zero. The bonus amount is the estimated interest that would have been earned if the policy charges had been taken from the Fixed Account. 2 3 Facts about the S&P 500 Index It s known as the best single gauge of the U.S. stock market. The index includes 500 leading companies from the U.S. economy s leading industries. It represents about three-fourths of the American equity market. Source: Standard and Poor s Fact Sheet, March 202. Guarantees are backed by the claims-paying ability of The Lincoln National Life Insurance Company. Policy charges and fees remain in effect and could reduce your policy value.

3 The protection and tax advantages you want There are great reasons to turn to Lincoln LifeReserve Indexed UL Accumulator. While it offers death benefit protection, it s also a good choice if you want to build policy cash value for a tax-advantaged source of funds in the years ahead, guaranteed interest on the cash value of your life insurance policy, and growth potential without market-driven losses. You ll get a choice of four accounts for growth opportunities: three indexed accounts tied to the performance of the S&P 500 Index, and a fixed account. Each account calculates interest differently. This brochure provides an overview of how the -Year Point-to-Point Indexed Account can help you. Upside potential There s a current earnings cap of 3% at the end of each 2-month term for solid growth opportunity. Downside protection Guaranteed % annual credited interest means you ll always earn interest, even in a down market. 2 Tax advantages It can help you grow tax-advantaged cash value for the good things in life. Policy loans can help supplement retirement, pay for college, travel and more. 3 Think of the possibilities Excluding dividends. 2 Policy charges and fees remain in effect and could reduce your policy value. 3 Loans and withdrawals will reduce the policy s cash value and death benefit, may cause the policy to lapse, and may have tax implications.

4 Say goodbye to extremes With Lincoln LifeReserve Indexed UL Accumulator: You earn guaranteed interest. Your interest earnings are locked in. Since your account values are not invested directly in the market, you ll never need to rebound from poor market performance. Here s how interest is credited Interest is credited at the end of every 2-month term. For the -Year Point-to-Point Indexed Account: 2 3 The difference between the starting and ending values of the S&P 500 Index determines the percentage change for the 2-month term. If the change is positive, the account is credited the full percentage change up to a 3% current cap. If the change is less than %, the account still earns a full %. Any amount taken out of the account as a withdrawal, instead of a loan, will not receive interest. Loans and withdrawals both reduce the policy s cash value and death benefit, so plan accordingly with your advisor. Three crediting examples Growth rate (change at end of one-year term) Growth current cap = 3.00% floor =.00% Interest credited at end of one-year term 6.23% = Subject to cap of 3.00% => 3.00% 9.25% = Within cap/floor range => 9.25% 0.78% = Subject to.00% guaranteed minimum =>.00%

5 Year Period ending See how the -Year Point-to-Point Indexed Account may have performed Here s a hypothetical example of the 30-year performance of the S&P 500 compared to how the -Year Point-to-Point may have performed, had it been available: S&P 500 -Year Point-to-Point -year percentage change 5-year average 0-year average Hypothetical for the term 5-year average 0-year average 2/5/ % 9.96% 2 2/5/ % 3.00% 3 2/7/84.2%.2% 4 2/6/ % 3.00% 5 2/5/ % 5.08% 3.00% 9.93% 6 2/5/87 2.8%.00% 7 2/5/ % 2.96% 8 2/5/ % 3.00% 9 2/7/ %.00% 0 2/6/9 7.93% 9.5% 2.07% 3.00% 8.03% 8.98% 2/5/92 2.5% 2.5% 2 2/5/ % 6.77% 3 2/5/94.4%.00% 4 2/5/ % 3.00% 5 2/6/ % 3.40% 3.00% 9.5% 6 2/5/ % 3.00% 7 2/5/ % 3.00% 8 2/5/ % 3.00% 9 2/5/00 7.6%.00% 20 2/7/0 3.55% 9.49%.43%.00% 8.04% 8.59% 2 2/6/ %.00% 22 2/5/ % 3.00% 23 2/5/ % 2.89% 24 2/5/05 5.4% 5.4% 25 2/5/ % 4.70% 2.29% 8.8% 26 2/7/07.32%.32% 27 2/5/ %.00% 28 2/5/ % 3.00% 29 2/5/0.49%.49% 30 2/5/.58% 3.5% 0.70%.00% 5.42% 7.0% -Year Point-to-Point S&P 500 Index (what you might have earned) 20-year average 5.93% 7.84% 30-year average 7.94% 8.22% The lookback rates are for illustrative purposes only. The Lincoln LifeReserve Indexed UL Accumulator was not available during the entire lookback period. The lookback rates are an annually compounded average of the one-year rates, using the actual S&P 500 Index (excluding dividends) over the time periods shown, with the caps, and the % annual guarantee. Actual caps and percentages would have been different over the different time periods and varied from time to time within those periods. The lookback rates are an indication of S&P 500 Index changes in the past, have no bearing on future changes in the S&P 500 Index, and are not guaranteed. Actual results may be better or worse than shown. The lookback rates assume the one-year term begins on December 5, 6, or 7 of each year, through 20.

6 Talk to your advisor about Lincoln LifeReserve Indexed UL Accumulator today! Important information about your policy You will need to maintain a minimum amount of cash surrender value in the policy to keep it from lapsing. Exercising certain policy features (such as loans, withdrawals, or skipped premiums) may reduce cash surrender values and death benefits, may have tax implications, and may cause the policy to lapse. If the policy does lapse, the total amount of loans due would be considered taxable income. Withdrawals and surrenders are income tax-free up to your cost basis, provided your policy is not a modified endowment contract (MEC). A MEC policy is one in which the life insurance limits exceed certain high levels of premium, or your cumulative premium payments exceed certain amounts specified under the Internal Revenue Code. For policies that are MECs, distributions during the life of the insured, including loans, are first treated as taxable to the extent of income in the contract; and an additional 0% federal income tax may apply for withdrawals made prior to age 59½. Not a deposit Not FDIC-insured Not insured by any federal government agency Not guaranteed by any bank or savings association May go down in value Standard & Poor s and S&P 500 are trademarks of Standard & Poor s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. and have been licensed for use by The Lincoln National Life Insurance Company. Lincoln s products are not sponsored, endorsed, sold or promoted by Standard & Poor s and Standard & Poor s makes no representation regarding the advisability of purchasing this product. The S&P 500 Index is a price index and does not reflect dividends paid on the underlying stocks. It is not possible to invest directly in an index. 202 Lincoln National Corporation Visit LincolnFinancial.com 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. LCN ECG /2 Z05 Order code: LRI-IUL-BRC004 This material was prepared to support the promotion and marketing of investment and insurance products. Lincoln Financial Group affiliates, their distributors, and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state, or local tax penalties. Please consult your own independent advisor as to any tax, accounting, or legal statements made herein. Lincoln LifeReserve Indexed UL Accumulator, also referred to as Lincoln LifeReserve Indexed UL (20), is issued on policy form UL5062/ ICC2UL5062 and state variations 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 guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. They are not backed by the broker/dealer and/or insurance agency selling the policy, 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. Products and features are subject to state availability. Limitations and exclusions may apply. Not for use in New York or Massachusetts.