PORTFOLIO OPTIMIZATION PORTFOLIOS Available through Variable Annuities Why Portfolio Optimization Portfolios The Portfolio Optimization portfolios are designed to make investment diversification easier for you by offering: o One-Step Diversification Each Portfolio Optimization portfolio is a fund-of-funds diversified among multiple asset classes, providing you with a core asset allocation solution to help meet your financial goals. o A Dedicated Team that Manages Multi-Asset Class Solutions The portfolio management team s investment approach uses three fundamental disciplines: Asset allocation Manager research Investment risk management o Target-Risk Portfolios to Fit Your Needs The Portfolio Optimization portfolios range in investment style from conservative to aggressive-growth to help match your risk tolerance and investment goals. Why A Pacific Life Variable Annuity A variable annuity is a long-term contract between you and an insurance company that helps you grow, protect, and manage retirement savings in a tax-advantaged way. It can help you: o Grow retirement savings faster through the power of tax deferral. o Manage your investment strategy by transferring among a diverse selection of investment options free of tax consequences. o Convert your assets to guaranteed lifetime retirement income. o Leave a financial legacy through a guaranteed death benefit. Our variable annuities also offer features such as asset allocation and optional principal protection. Optional benefits are available for an additional cost. Guarantees,including optional benefits, are subject to Pacific Life s financial strength and claims-paying ability and do not protect the value of the variable investment options, which are subject to market risk. Annuity withdrawals and other distributions of taxable amounts, including death benefit payouts, will be subject to ordinary income tax. For nonqualified contracts, an additional 3.8% federal tax may apply on net investment income. If withdrawals and other distributions are taken prior to age 59½, an additional 10% federal tax may apply. A withdrawal charge also may apply. Withdrawals will reduce the contract value and the value of the death benefits, and also may reduce the value of any optional benefits. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. VAC0139-0417W No bank guarantee Not a deposit May lose value Not FDIC/NCUA insured Not insured by any federal government agency 1 of 7
CONSERVATIVE 3.5% 16.7% 79.8% T. Rowe Price Short Duration Bond Short-Term Bond 17.6 PIMCO Inflation Managed Inflation-Protected Bond 4.3 Western Asset Management Inflation Strategy Inflation-Protected Bond 1.7 Pacific Asset Management Core Income Corporate Bond 2.5 PIMCO Managed Bond Intermediate-Term Bond 13.7 Western Asset Management Diversified Bond Intermediate-Term Bond 20.4 Eaton Vance Floating Rate Loan Bank Loan 2.6 Pacific Asset Management Floating Rate Income Bank Loan 2.6 Pacific Asset Management High Yield Bond High Yield Bond 3.8 Eaton Vance Global Absolute Return Non-Traditional Bond 4.0 Ashmore Emerging Markets Debt Emerging Markets Bond 4.5 UBS/MCG Currency Strategies Multicurrency 2.0 ClearBridge Large-Cap Value Large Value 4.3 Invesco Comstock Large Value 1.3 JPMorgan Value Advantage Large Value 1.8 BlackRock Equity Index Large Blend 1.3 Oppenheimer Main Street Core Large Blend 1.0 T. Rowe Price Dividend Growth Large Blend 0.7 BlackRock Large-Cap Growth Large Growth 0.9 MFS Growth Large Growth 0.4 Boston Partners Mid-Cap Value Mid-Cap Value 1.8 Scout Investments Mid-Cap Equity Mid-Cap Blend 0.3 AQR Equity Long/Short Portfolio Long/Short Equity 3.0 JPMorgan International Value Foreign Large Value 1.2 MFS International Large-Cap Foreign Large Growth 2.3 Although some portfolios may have names or investment goals that resemble retail mutual funds managed by the same money manager, these portfolios may not have the same underlying holdings or performance as the retail mutual funds. Investment results may be higher or lower. 2 of 7
MODERATE-CONSERVATIVE 29.7% 8.8% 61.5% T. Rowe Price Short Duration Bond Short-Term Bond 10.3 PIMCO Inflation Managed Inflation-Protected Bond 2.4 Western Asset Management Inflation Strategy Inflation-Protected Bond 1.0 Pacific Asset Management Core Income Corporate Bond 1.5 PIMCO Managed Bond Intermediate-Term Bond 11.3 Western Asset Management Diversified Bond Intermediate-Term Bond 17.3 Eaton Vance Floating Rate Loan Bank Loan 2.4 Pacific Asset Management Floating Rate Income Bank Loan 2.0 Pacific Asset Management High Yield Bond High Yield Bond 3.3 Eaton Vance Global Absolute Return Non-Traditional Bond 4.0 Ashmore Emerging Markets Debt Emerging Markets Bond 2.9 UBS/MCG Currency Strategies Multicurrency 3.0 ClearBridge Large-Cap Value Large Value 4.9 Invesco Comstock Large Value 2.5 JPMorgan Value Advantage Large Value 3.1 BlackRock Equity Index Large Blend 1.4 JPMorgan Long/Short Large-Cap Long/Short Equity 1.8 Oppenheimer Main Street Core Large Blend 2.4 T. Rowe Price Dividend Growth Large Blend 1.3 BlackRock Large-Cap Growth Large Growth 2.3 MFS Growth Large Growth 1.5 Boston Partners Mid-Cap Value Mid-Cap Value 3.1 Scout Investments Mid-Cap Equity Mid-Cap Blend 0.8 AB Small-Cap Value Small Value 0.5 BlackRock Small-Cap Index Small Blend 0.3 Franklin Templeton/BlackRock Small-Cap Equity Small Value 0.4 Lord Abbett Developing Growth Small Growth 0.2 Rothschild Small-Cap Growth Small Growth 0.4 AQR Equity Long/Short Portfolio Long/Short Equity 3.0 JPMorgan International Value Foreign Large Value 1.2 MFS International Large-Cap Foreign Large Growth 2.3 QS Investors International Small-Cap Foreign Small/Mid Blend 2.7 Oppenheimer Emerging Markets Diversified Emerging Markets 2.6 3 of 7
MODERATE 14.5% 41.6% 43.9% T. Rowe Price Short Duration Bond Short-Term Bond 4.3 PIMCO Inflation Managed Inflation-Protected Bond 2.0 Western Asset Management Inflation Strategy Inflation-Protected Bond 0.9 Pacific Asset Management Core Income Corporate Bond 1.3 PIMCO Managed Bond Intermediate-Term Bond 8.0 Western Asset Management Diversified Bond Intermediate-Term Bond 12.1 Eaton Vance Floating Rate Loan Bank Loan 1.8 Pacific Asset Management Floating Rate Income Bank Loan 1.4 Pacific Asset Management High Yield Bond High Yield Bond 2.4 Eaton Vance Global Absolute Return Non-Traditional Bond 3.0 Ashmore Emerging Markets Debt Emerging Markets Bond 2.6 UBS/MCG Currency Strategies Multicurrency 4.0 ClearBridge Large-Cap Value Large Value 5.3 Invesco Comstock Large Value 2.6 JPMorgan Value Advantage Large Value 3.7 BlackRock Equity Index Large Blend 2.4 JPMorgan Long/Short Large-Cap Long/Short Equity 2.4 Oppenheimer Main Street Core Large Blend 2.4 T. Rowe Price Dividend Growth Large Blend 1.5 BlackRock Large-Cap Growth Large Growth 2.5 MFS Growth Large Growth 1.6 Boston Partners Mid-Cap Value Mid-Cap Value 3.9 Scout Investments Mid-Cap Equity Mid-Cap Blend 2.1 Ivy Funds Mid-Cap Growth Mid-Cap Growth 0.7 AB Small-Cap Value Small Value 0.9 BlackRock Small-Cap Index Small Blend 1.8 Franklin Templeton/BlackRock Small-Cap Equity Small Blend 1.6 Lord Abbett Developing Growth Small Growth 0.4 Rothschild Small-Cap Growth Small Growth 0.6 Morgan Stanley Real Estate Real Estate 0.9 AQR Equity Long/Short Portfolio Long/Short Equity 4.1 JPMorgan International Value Foreign Large Value 2.5 MFS International Large-Cap Foreign Large Growth 3.8 QS Investors International Small-Cap Foreign Small/Mid Blend 3.6 Oppenheimer Emerging Markets Diversified Emerging Markets 4.7 4 of 7
GROWTH 21.5% 53.0% 25.5% PIMCO Inflation Managed Inflation-Protected Bond 0.7 Western Asset Management Inflation Strategy Inflation-Protected Bond 0.3 Pacific Asset Management Core Income Corporate Bond 0.9 PIMCO Managed Bond Intermediate-Term Bond 6.3 Western Asset Management Diversified Bond Intermediate-Term Bond 9.6 Eaton Vance Floating Rate Loan Bank Loan 0.2 Pacific Asset Management Floating Rate Income Bank Loan 0.2 Pacific Asset Management High Yield Bond High Yield Bond 0.7 Eaton Vance Global Absolute Return Non-Traditional Bond 2.0 Ashmore Emerging Markets Debt Emerging Markets Bond 0.7 UBS/MCG Currency Strategies Multicurrency 3.9 ClearBridge Large-Cap Value Large Value 5.8 Invesco Comstock Large Value 2.7 JPMorgan Value Advantage Large Value 4.5 BlackRock Equity Index Large Blend 2.4 JPMorgan Long/Short Large-Cap Long/Short Equity 3.1 Oppenheimer Main Street Core Large Blend 2.6 T. Rowe Price Dividend Growth Large Blend 1.7 BlackRock Large-Cap Growth Large Growth 3.2 MFS Growth Large Growth 2.3 Boston Partners Mid-Cap Value Mid-Cap Value 6.3 Scout Investments Mid-Cap Equity Mid-Cap Blend 3.4 Ivy Funds Mid-Cap Growth Mid-Cap Growth 0.9 AB Small-Cap Value Small Value 1.8 BlackRock Small-Cap Index Small Blend 3.4 Franklin Templeton/BlackRock Small-Cap Equity Small Blend 1.8 Lord Abbett Developing Growth Small Growth 0.5 Rothschild Small-Cap Growth Small Growth 0.7 Morgan Stanley Real Estate Real Estate 1.8 AQR Equity Long/Short Portfolio Long/Short Equity 4.0 JPMorgan International Value Foreign Large Value 3.3 MFS International Large-Cap Foreign Large Growth 6.7 QS Investors International Small-Cap Foreign Small/Mid Blend 4.6 Oppenheimer Emerging Markets Diversified Emerging Markets 6.9 5 of 7
AGGRESSIVE-GROWTH 27.3% 13.4% 59.3% PIMCO Managed Bond Intermediate-Term Bond 2.7 Western Asset Management Diversified Bond Intermediate-Term Bond 4.9 Eaton Vance Global Absolute Return Non-Traditional Bond 2.0 UBS/MCG Currency Strategies Multicurrency 3.8 ClearBridge Large-Cap Value Large Value 6.1 Invesco Comstock Large Value 2.8 JPMorgan Value Advantage Large Value 4.7 BlackRock Equity Index Large Blend 2.5 JPMorgan Long/Short Large-Cap Long/Short Equity 3.1 Oppenheimer Main Street Core Large Blend 2.6 T. Rowe Price Dividend Growth Large Blend 1.9 BlackRock Large-Cap Growth Large Growth 3.4 MFS Growth Large Growth 2.4 Boston Partners Mid-Cap Value Mid-Cap Value 7.2 Scout Investments Mid-Cap Equity Mid-Cap Blend 3.8 Ivy Funds Mid-Cap Growth Mid-Cap Growth 1.1 AB Small-Cap Value Small Value 3.0 BlackRock Small-Cap Index Small Blend 3.6 Franklin Templeton/BlackRock Small-Cap Equity Small Blend 2.8 Lord Abbett Developing Growth Small Growth 0.6 Rothschild Small-Cap Growth Small Growth 0.8 Morgan Stanley Real Estate Real Estate 2.7 AQR Equity Long/Short Portfolio Long/Short Equity 4.0 JPMorgan International Value Foreign Large Value 4.2 MFS International Large-Cap Foreign Large Growth 8.3 QS Investors International Small-Cap Foreign Small/Mid Blend 5.7 Oppenheimer Emerging Markets Diversified Emerging Markets 9.2 6 of 7
About Risk Asset allocation, although intended to provide diversification, does not guarantee future results, ensure a profit, or protect against loss. Better returns could be achieved by investing in an individual fund or funds representing a single asset class rather than using asset allocation. A fund-of-funds is subject to its own expenses along with the expenses of the underlying funds. It is typically exposed to the same risks as the underlying funds in which it invests in proportion to the allocation of assets among those underlying funds. Each underlying fund has its own investment goal, strategy, and risks, and many are available for individual purchase. The prospectuses for the underlying funds are available at www.pacificlife.com. Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products. Only an advisor who is also a fiduciary is required to advise if the product purchase and any subsequent action taken with regard to the product are in their client s best interest. You should carefully consider a variable annuity s risks, charges, limitations, and expenses, as well as the risks, charges, expenses, and investment goals of the underlying investment options. This and other information about Pacific Life are provided in the product and the Pacific Select Fund prospectuses. These prospectuses are available from your financial advisor or by calling the toll-free number listed below. Read them carefully before investing. Pacific Life Fund Advisors LLC (PLFA), a wholly owned subsidiary of Pacific Life Insurance Company, is the investment adviser to the Portfolio Optimization portfolios and is responsible for determining the asset allocation mix for each portfolio. PLFA also does business under the name Pacific Asset Management and manages certain portfolios under that name. Third-party trademarks and service marks are the property of their respective owners. Under current law, a nonqualified annuity that is owned by an individual is generally entitled to tax deferral. IRAs and qualified plans such as 401(k)s and 403(b)s are already tax-deferred. Therefore, a deferred annuity should be used only to fund an IRA or qualified plan to benefit from the annuity s features other than tax deferral. These include lifetime income, death benefit options, and the ability to transfer among investment options without sales or withdrawal charges. Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues. Insurance product and rider guarantees, including optional benefits and any fixed subaccount crediting rates or annuity payout rates, are backed by the financial strength and claims-paying ability of the issuing insurance company and do not protect the value of the variable investment options. They are not backed by the broker/dealer from which this annuity is purchased, by the insurance agency from which this annuity is purchased, or any affiliates of those entities, and none makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company. Variable insurance products, as well as shares of the Pacific Select Funds, are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company (Newport Beach, CA), and an affiliate of Pacific Life & Annuity Company and are available through licensed third parties. Contract Form Series: 10-1252, 10-1253, 10-17800, 10-1221, 10-10300, 10-1128, 10-1130, ICC12:10-1252, ICC12:10-1253, ICC11:10-1221, 10-178OR, 10-1221OR, 10-2252-13, 10-2253-13, 10-278NY-1, 10-2221-13 VAC0139-0417W 7 of 7 Mailing addresses: Pacific Life Insurance Company P.O. Box 2378 Omaha, NE 68103-2378 (800) 722-4448 In New York, Pacific Life & Annuity Company P.O. Box 2829 Omaha, NE 68103-2829 (800) 748-6907 www.pacificlife.com