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Investment Type: coli

Franklin Global Real Estate VIP Division

Quick Facts Inception Date: 01/06/1999 Morningstar Category: Global Real Estate Total Net Assets (mil): $104.50	Investment Strategy    What's this? The investment seeks high total return. The fund invests at least 80% of its net assets in investments of companies located anywhere in the world that operate in the real estate sector. Under normal market conditions, the advisor expects to invest at least 40% of the fund's net assets in foreign securities. The advisor currently expects to be invested predominantly in equity securities, primarily common stocks. Although the fund generally does not hedge its foreign currency exposure, currency-related derivative instruments such as forward currency exchange contracts may be used from time-to-time to help manage currency risks and manage local currency exposure.
Morningstar Style Box™   as of 02/29/2024    What's this?	Overall Morningstar Star Rating™   as of 03/31/2024    What's this? Out of 179 Global Real Estate Funds Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.

Total Returns

The investment results shown represent historical returns based upon the assumption variable universal life insurance products and variable annuity products were available for the periods shown. Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data shown. Since the investment results and unit values of the divisions will fluctuate, the policy's accumulated value may at any time be more or less than the total premiums paid under the contract, including upon surrender of the contract. For more performance information, including the most recent month-end performance, please contact 800-247-9988 for variable life products or 800-852-4450 for variable annuity products.

Month-End | Quarter-End

Average Annual Total Returns as of 03/31/2024

1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since      Inception* Total Return % 3.07 -0.96 -0.96 8.04 -0.35 0.79 3.34 5.45 Standard & Poor's Global REIT Index % 2.81 -0.91 -0.91 8.71 1.67 2.27 5.01 --- Global Real Estate Category % 3.52 -0.83 -0.83 7.96 -1.32 0.62 3.31 --- Morningstar Percentile Rankings** --- --- --- 49 42 50 57 --- # of Funds in Category 193 193 193 192 179 179 119 ---

* Inception Date: 01/06/1999

**Morningstar percentile rankings are based on total returns.

Expenses   as of 03/31/2024 Total Investment Expense - Net: 1.25%

Inv Manager or Sub-Advisor

   What's this?

Franklin Templeton Investments

Portfolio Managers

   What's this?

Daniel Scher Since 09/03/2019

Blair Schmicker , CFA Since 09/03/2019

© 2024 Morningstar, Inc. All Rights Reserved. Part of the mutual fund data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Returns shown reflect all investment management charges and any miscellaneous expenses incurred by the underlying accounts of the divisions. Returns do not include premium expense charges and various monthly deductions (administration charges, cost of insurance, and mortality and expense risks charges) which vary by contract. In addition, results do not reflect the premium expense charge or the surrender charge levied if the policy is surrendered during the first 10 policy years, or within 10 years after a face amount increase. If these fees and charges had been deducted, the results shown would be significantly lower. These charges are explained fully in the prospectus and their effect upon cash surrender values are best explained by reviewing several hypothetical illustrations contained in the prospectus. For a personalized illustration of historical performance, which reflects the cost of insurance protection, contact your registered representative. The initial offering of Executive Variable Universal Life (Executive VUL) was May 28, 2002. The initial offering of Benefit Variable Universal Life (Benefit VUL) was September, 2002. The initial offering of PrinFlex® Life was February 7, 1997. The initial offering of Principal Variable Universal Life (VUL) Income was August 23, 2004. The initial offering of Principal Variable Universal Life (VUL) Income Plus, the VUL Income with the Surrender Charge Adjustment Rider, was February 18, 2006. The initial offering of Principal Variable Universal Life (VUL) Accumulator II was February 11, 2003. The initial offering of Variable Universal Life Accumulator was November 19, 2001. The initial offering of Flex Variable Life Insurance was November 1, 1988. The initial offering of Survivorship Variable Universal Life was July 1, 1999. The initial offering of The Principal Variable Annuity was June 16, 1994. The initial offering of Principal Freedom Variable Annuity was April 30, 1999. The initial offering of The Principal Investment Plus Variable Annuity was January 4, 2005. The initial offering of Principal Freedom Variable Annuity 2 was September 18, 2006. The initial offering of Principal Variable Universal Life (VUL) Income II was 07/03/2008. The initial offering of Executive Variable Universal Life II (Executive VUL II) was October 3, 2008. The initial offering of Benefit Variable Universal Life II (Benefit VUL II) was October 3, 2008. Some of the underlying funds into which the divisions invest were offered prior to these dates. Inception dates are noted. This material is authorized for distribution to prospective investors only when preceded or accompanied by a current prospectus for the Variable Universal Life product or Variable Annuity product and the underlying investment options. Insurance products from the Principal Financial Group® are issued by Principal National Life Insurance Company (except in New York) and Principal Life Insurance Company. Securities offered through Principal Securities, Inc., 800-247-9988, member SIPC. Principal National, Principal Life, and Principal Securities are members of the Principal Financial Group®, Des Moines, IA 50392. Not FDIC Insured May Lose Value - Not a Deposit - No Bank Guarantee Not Insured by any Federal Government Agency

Fees and expenses are only one of several factors that participants and beneficiaries should consider when making investment decisions.  The cumulative effect of fees and expenses can substantially reduce the growth of a participant's or beneficiary's retirement account.  Participants and beneficiaries can visit the Employee Benefit Security Administration's website for an example demonstrating the long-term effect of fees and expenses.

The S&P Global REIT Index measures the performance of publicly traded equity REITs listed in both developed and emerging markets. It is a member of the S&P Global Property Index Series. International and global investment options are subject to additional risk due to fluctuating exchange rates, foreign accounting and financial policies, and other economic and political environments. Returns do not take into account any variable annuity contract fees, your actual returns could be lower. Real Estate investment options are subject to investment and liquidity risk and other risks inherent in real estate such as those associated with general and local economic conditions. Property values can decline due to environmental and other reasons. In addition, fluctuation in interest rates can negatively impact the performance of real estate investment options.