EQUI-VEST® FAIR FUND

FINAL UPDATE: The distribution phase is now completed and monies from payments not negotiated have been transferred to the SEC for transmittal to the United States Treasury. The Distribution Administrator can no longer issue or make payments from the EQUI-VEST Fair Fund.

ATTENTION: The Fair Fund distribution is closing soon. If you need to have your check reissued, please contact the Distribution Administrator on or before October 17, 2023 at (800) 715-3395, Monday through Friday, between 9:00 AM and 6:00PM ET. Please cash your existing or reissued check before November 21, 2023 otherwise you will forfeit this payment. Monies that are not cashed will be returned to the United States Treasury.

NOTE: Checks not presented for payment on or before November 21, 2023 will be marked void at the disbursement bank. Please DO NOT try to negotiate a check after November 21, 2023 as the payment will not be negotiable and your bank may charge your account a fee for presenting a void check. Neither the EQUI-VEST Fair Fund nor the fund administrator will be responsible for fees that your bank may apply to your account.

Equitable Financial Life Insurance Company (“Equitable” ) entered into a settlement with the Securities and Exchange Commission (“SEC” ) relating to the presentation of account statements for certain clients invested in EQUI-VEST® variable annuity products.

The settlement relates to how EQUI-VEST® quarterly account statements described certain daily charges. To review the SEC’s order related to this matter, you may access the document at the SEC’s website: https://www.sec.gov/litigation/admin/2022/33-11083.pdf.

Importantly, detailed disclosure of all charges, fees and expenses has always been provided in the prospectus. Further, the sums and calculations reflected in the Net Investment Portfolio Results and Total Account Value on the EQUI-VEST® account statement have always been accurately reflected.

As part of the settlement, Equitable has agreed to distribute a special payment to clients who invested in EQUI-VEST® contracts between January 1, 2016, and July 18, 2022 (the “Relevant Period” ). Former clients, or those whose EQUI-VEST® contract otherwise has a $0 annuity account value, will receive a special payment through a check. The calculation, which has been approved by the SEC, is based on the duration of the investment in the contract during the Relevant Period and the account value during the Relevant Period. The special payment has not had any taxes withheld. (Please note, if the total amount of the special payment to an individual Tax Identification Number exceeds $600, the IRS requires us to report the amount and will result in a 1099 for the current tax year.) As approved by the SEC, Equitable is not required to make payment to former clients where the payment amount is less than $10.00.

Equitable is in the process of mailing payments to all eligible former clients, which is expected to be completed by mid-July, 2023.

If you should have any questions, please contact the Distribution Administrator at 800-715-3395.