SENTINEL ADVANTAGE VARIABLE ANNUITY 5 NON-STANDARDIZED ADJUSTED HISTORIC AVERAGE ANNUAL RETURNS BEFORE SURRENDER CHARGE

(1)

COMPLEX SUBACCOUNT

INCEPTION DATE¹

YEAR TO DATE

MRQ Return³

1 YEAR

3 YEARS

5 YEARS

10 YEARS

SINCE INCEPTION²

1 YEAR

3 YEARS

5 YEARS

10 YEARS

Touchstone TVST Common Stock 10/27/17 21.06% 0.41% 26.60% 18.96% N/A N/A 14.73% 33.96% 15.75% N/A N/A

Small Company 10/27/17 17.27% -1.21% 28.61% 12.47% N/A N/A 11.82% 56.97% 9.20% N/A N/A

Balanced 10/27/17 12.47% 0.18% 15.66% 14.49% N/A N/A 10.80% 20.61% 12.20% N/A N/A

Bond 10/27/17 -2.45% -0.54% -1.91% 5.13% N/A N/A 2.64% -0.55% 4.72% N/A N/A

Invesco V.I. Discovery Mid Cap⁴ 04/30/20 15.80% 2.48% 22.81% N/A N/A N/A 38.15% 31.98% N/A N/A N/A

V.I. Diversified Dividend Fund 06/05/00 9.65% -1.46% 12.79% 7.11% 5.82% 8.59% 1.88% 24.80% 6.61% 6.34% 9.62%

V.I. Equity and Income Fund 04/30/03 12.47% -0.35% 16.12% 9.88% 7.24% 5.90% 3.99% 30.09% 8.17% 8.20% 6.54%

V.I. Government Securities Fund 05/05/93 -3.33% -0.43% -3.20% 2.27% 0.83% -1.51% -2.26% -2.33% 2.59% 0.46% -1.41%

V.I. Global Real Estate Fund 04/30/04 16.08% -0.90% 18.77% 4.71% 4.91% 4.15% -0.48% 20.69% 3.52% 2.41% 4.68%

V.I. High Yield Fund 03/26/02 0.90% 0.02% 2.96% 3.75% 2.88% 0.29% -4.19% 8.64% 3.18% 2.94% 0.69%

V.I. International Growth Fund 09/19/01 -0.65% -4.99% 4.87% 10.32% 7.80% 5.16% 5.23% 13.58% 7.94% 6.69% 6.12%

American Funds AFIS Asset Allocation Fund 12/15/12 9.52% -1.68% 13.23% 11.16% 9.31% N/A 4.65% 17.21% 8.91% 9.01% N/A AFIS Capital World Bond Fund 12/15/12 -6.24% -1.10% -4.64% 3.10% 1.86% N/A -1.28% -1.23% 3.05% 0.70% N/A AFIS Growth-Income Fund 12/15/12 16.27% -0.19% 20.49% 14.14% 13.61% N/A 6.50% 25.76% 11.03% 13.29% N/A AFIS Capital World Growth & Income Fund 12/15/12 7.94% -2.62% 13.39% 11.76% 10.76% N/A 6.58% 23.54% 8.64% 9.94% N/A AFIS Global Small Capitilization Fund 12/15/12 5.46% -2.30% 13.32% 17.07% 13.55% N/A 8.73% 31.27% 14.01% 13.31% N/A AFIS American High-Income Trust 12/15/12 5.12% 0.63% 7.63% 6.34% 4.96% N/A -0.22% 13.37% 5.71% 5.26% N/A

AFIS New World Fund 12/15/12 1.32% -5.22% 7.76% 14.42% 11.09% N/A 1.59% 22.96% 13.00% 10.59% N/A

American Century Capital Appreciation 04/25/14 9.70% -1.95% 15.66% 23.30% 17.96% N/A 13.52% 28.65% 18.43% 16.78% N/A

VP Growth 05/02/11 23.45% -0.09% 28.73% 26.17% 22.30% 16.74% 14.88% 24.35% 18.84% 19.85% 17.00%

Large Company Value 10/29/04 12.30% 0.16% 15.57% 8.70% 7.57% 10.46% 6.64% 28.02% 8.07% 8.59% 11.63%

Ultra 05/01/02 20.04% 1.15% 26.07% 28.76% 24.99% 18.69% 10.29% 27.34% 22.43% 23.19% 19.29%

Value 08/14/01 15.95% -0.74% 20.36% 9.15% 7.09% 10.64% 7.29% 40.63% 7.76% 8.30% 11.74%

Fidelity^® Investments VIP Disciplined Small Cap 12/27/05 15.33% -4.12% 25.41% 13.03% 8.94% 14.69% 9.78% 50.77% 9.04% 10.31% 16.31%

VIP Index 500 Portfolio 08/27/92 21.24% 0.14% 25.71% 18.28% 15.85% 13.95% 6.35% 27.76% 13.97% 14.87% 14.45%

VIP Dynamic Capital Appreciation 09/25/00 19.70% -0.91% 24.55% 22.69% 18.06% 18.42% 8.81% 25.78% 16.16% 16.76% 18.65%

VIP Contrafund^® Portfolio 01/03/95 23.13% 1.28% 26.76% 23.19% 18.08% 14.49% 7.51% 22.95% 16.65% 16.41% 14.67%

VIP Mid Cap Portfolio 12/28/98 17.98% -0.21% 25.98% 13.91% 10.97% 9.59% 4.73% 38.53% 8.95% 10.98% 10.17%

VIP Freedom Income 04/26/05 1.03% -0.66% 2.52% 6.31% 4.59% 4.51% 4.86% 4.70% 5.44% 4.10% 4.64%

VIP Growth Opportunities 01/03/95 11.55% -1.68% 18.16% 34.82% 30.60% 23.00% 12.11% 30.40% 30.73% 29.68% 24.02%

VIP Real Estate Portfolio 11/06/02 25.13% 1.21% 28.27% 8.12% 6.62% 10.31% 12.81% 27.57% 7.08% 4.20% 11.10%

Average annual returns as November 30, 2021

SAVA 5 is a Variable Annuity Contract Issued by National Life Insurance Company. This material is authorized for distribution to prospective policy holders only when preceded or accompanied by current prospectuses for the Contract and related funds. Please read the prospectus and consider carefully the product's objectives, risks, charges and expenses before you invest or send money.

As of November 30, 2021 As of September 30, 2021

Investment in global markets may include added risks such as currency fluctuations and other economic and political factors.

2 Average annual return since the inception of the underlying fund option ³Most recent calendar quarter

1 Inception date of the underlying fund option except, where additionally noted below.

S ^ENTINEL A ^DVANTAGE V ^ARIABLE A ^NNUITY 5

N

ON

-S

TANDARDIZED

A

DJUSTED

H

ISTORIC

A

VERAGE

A

NNUAL

R

ETURNS

B

EFORE

S

URRENDER

C

HARGE

Performance data quoted represents past performance, and is no guarantee of future results. Principal value and return will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance shown here.

Stocks of smaller companies are often associated with higher risks than stocks of larger companies including higher volatility.

4 Since inception data is not available, the performance information above uses, April 30^th, 2020 as the inception date.

BlackRock Government Money Market V.I. Fund: You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

Fund shares are not guaranteed by the U.S. government.

Variable annuities are long-term investments designed for retirement purposes. Early withdrawals may be subject to a deferred sales charge and if taken prior to age 59½, a 10% federal tax penalty may apply. Gains distributed from the annuity will be taxed as ordinary income in the year the money is received.

(2)

COMPLEX SUBACCOUNT DATE¹ DATE Return³ YEAR YEARS YEARS YEARS INCEPTION² YEAR YEARS YEARS YEARS Franklin Templeton Allocation VIP Fund 02/29/08 7.27% -0.69% 10.08% 8.87% 7.08% 7.79% 5.34% 13.46% 6.54% 7.08% 8.41%

Mutual Global Discovery VIP Fund 11/08/96 11.34% -1.15% 17.44% 5.75% 4.33% 6.62% 2.09% 34.58% 4.43% 5.40% 7.80%

Franklin Rising Dividends VIP Fund 02/29/08 18.40% 0.25% 21.38% 15.98% 13.98% 12.95% 10.24% 24.64% 12.46% 12.97% 13.44%

Small-Mid Cap Growth VIP Fund 11/01/95 9.66% -0.52% 14.44% 25.30% 19.12% 14.55% 5.56% 27.93% 21.47% 18.62% 15.17%

Templeton Developing Markets VIP Fund 02/29/08 -8.91% -11.87% -2.26% 8.34% 8.72% 3.54% 1.73% 11.55% 7.19% 8.40% 4.84%

Global Bond VIP Fund 02/29/08 -6.70% -2.01% -6.48% -4.62% -1.95% 0.25% 2.36% -5.30% -3.56% -1.10% 0.55%

BlackRock Equity Dividend V.I. Fund 07/01/11 12.47% -1.51% 16.67% 9.62% 9.13% 8.67% 7.83% 32.94% 8.50% 10.67% 9.88%

iShares Alternative Strategies V.I. Fund 04/30/14 0.00% 0.00% 0.00% 0.00% 2.56% N/A 2.45% 0.00% 0.00% 1.35% N/A 60/40 Target Allocation ETF V.I. Fund 04/30/14 7.06% -1.23% 10.13% 11.25% 9.12% N/A 5.96% 14.63% 8.86% 8.25% N/A iShares Dynamic Fixed Income V.I. Fund 04/30/14 0.00% 0.00% 0.00% 0.00% 0.04% N/A 0.25% 0.00% 0.00% -0.67% N/A iShares Equity Appreciation V.I. Fund 04/30/14 0.00% 0.00% 0.00% 0.00% 3.62% N/A 2.15% 0.00% 0.00% 3.65% N/A Advantage SMID Cap V.I. Fund 11/18/03 7.88% -2.97% 12.23% 13.70% 10.43% 10.04% 7.77% 21.24% 10.96% 11.92% 11.45%

Government Money Market V.I. Fund 02/20/92 -1.27% -0.35% -1.38% -0.57% -0.48% -0.31% 1.51% -1.38% -0.46% -0.48% -0.29%

Money Market 7-Day Yield this yield more closely reflects the current earnings of the Money Market Fund

Global Allocation V.I. Fund 11/18/03 2.66% -2.72% 6.72% 10.75% 7.90% 4.11% 5.39% 14.67% 9.45% 7.67% 4.75%

T. Rowe Price Equity Income Portfolio 04/30/02 16.07% -1.46% 20.90% 8.94% 8.19% 9.42% 5.84% 39.25% 7.70% 9.22% 10.43%

Blue Chip Growth Portfolio 04/30/02 16.03% -0.02% 18.69% 21.44% 21.30% 18.00% 10.18% 20.05% 17.19% 20.20% 18.79%

Health Sciences Portfolio 04/30/02 8.17% 0.84% 12.97% 15.89% 16.43% 18.55% 11.39% 24.12% 14.08% 15.93% 19.59%

Mid-Cap Growth 04/30/02 9.91% -0.35% 14.81% 16.42% 15.33% 14.64% 11.29% 26.17% 13.84% 15.07% 15.76%

AB VPS Balanced Wealth Strategy Portfolio 07/01/04 8.93% -0.46% 12.57% 9.31% 7.76% 7.78% 5.85% 17.84% 7.30% 6.96% 8.28%

Dynamic Asset Allocation Portfolio 04/01/11 5.42% -1.72% 8.36% 6.23% 5.23% 4.95% 4.37% 11.30% 3.94% 4.25% 5.13%

International Value Portfolio Class B 08/15/01 3.63% -0.77% 10.12% 3.64% 2.79% 3.58% 3.76% 29.72% 0.98% 2.90% 4.71%

Small/Mid Cap Value Portfolio Class B 05/01/01 26.49% -0.99% 34.48% 9.93% 7.32% 11.34% 9.69% 60.18% 6.75% 8.83% 12.61%

Goldman Sachs VIT Equity Index Fund 01/09/06 21.17% 0.11% 25.61% 18.18% 15.74% 14.68% 9.52% 27.66% 13.88% 14.75% 15.17%

VIT Global Trends Allocation Fund 04/16/12 11.13% -0.28% 13.80% 7.06% 6.25% N/A 4.83% 16.52% 4.42% 5.85% N/A VIT Growth Opportunities Fund 01/09/06 9.29% 1.50% 15.13% 23.66% 19.33% 9.55% 3.01% 27.83% 19.60% 18.13% 10.82%

VIT High Quality Floating Rate Fund 01/09/06 -1.28% -0.34% -1.30% -0.55% -0.26% 0.19% 2.09% -1.11% -0.45% -0.20% 0.22%

VIT Mid Cap Value Fund 01/09/06 20.65% 0.63% 26.59% 14.53% 10.06% 11.04% 7.67% 40.66% 11.40% 10.31% 11.91%

VIT Small Cap Equity Insights Fund 08/31/07 17.98% -3.46% 26.79% 11.32% 9.38% 11.40% 8.01% 46.25% 6.88% 10.67% 12.95%

VanEck VIP Emerging Markets Class I 12/21/95 -11.61% -8.58% -7.37% 8.04% 7.46% 4.93% 1.42% 9.96% 8.77% 7.26% 5.70%

VIP Global Resources Class S 09/01/89 14.32% -7.42% 25.94% 10.03% -0.48% -1.72% 1.64% 34.84% 2.55% 0.01% -1.41%

TC98749(0619)P

1 Inception date of the underlying fund option

2 Average annual return since the inception of the underlying fund option ³Most recent calendar quarter -1.42%

Returns are not annualized for periods under one year.

The non-standardized adjusted historic average annual returns before surrender charge are shown as a net rate of return which reflects the portfolios' investment income and capital gains and losses less investment management fees and expenses, and reflects the mortality and expense risk charge of 1.25%, an asset based administrative fee of .15% and an annual contract charge of

$30. Performance does not reflect the deduction of the surrender charge which, if reflected would reduce the performance figures shown. The maximum surrender charge is 7% of premium payments.

The non-standardized adjusted historic average annual performance before surrender charge assumes that the Sentinel Advantage 5 contract had been available since the inception of the underlying fund options and that the subaccounts were available as options and that the subaccounts were available as options under the contract.

(3)

S ^ENTINEL A ^DVANTAGE V ^ARIABLE A ^NNUITY 5

COMPLEX SUBACCOUNT

INCEPTION DATE¹

YEAR TO DATE

MRQ Return³

1 YEAR

3 YEARS

5 YEARS

10 YEARS

SINCE INCEPTION²

1 YEAR

3 YEARS

5 YEARS

10 YEARS

Touchstone TVST Common Stock 10/27/17 14.06% -6.59% 19.60% 17.77% N/A N/A 14.24% 26.96% 14.49% N/A N/A

Balanced 10/27/17 5.47% -6.82% 8.66% 13.20% N/A N/A 10.26% 13.61% 10.86% N/A N/A

Bond 10/27/17 -9.45% -7.54% -8.91% 3.60% N/A N/A 1.95% -7.55% 3.18% N/A N/A

Invesco V.I. Discovery Mid Cap⁴ 04/30/20 8.80% -4.52% 15.81% N/A N/A N/A 35.00% 24.98% N/A N/A N/A

V.I. Diversified Dividend Fund 06/05/00 2.65% -8.46% 5.79% 5.64% 5.33% 8.59% 1.88% 17.80% 5.12% 5.87% 9.62%

V.I. Equity and Income Fund 04/30/03 5.47% -7.35% 9.12% 8.49% 6.78% 5.90% 3.99% 23.09% 6.73% 7.76% 6.54%

V.I. Government Securities Fund 05/05/93 -10.33% -7.43% -10.20% 0.65% 0.24% -1.51% -2.26% -9.33% 0.98% -0.14% -1.41%

V.I. Global Real Estate Fund 04/30/04 9.08% -7.90% 11.77% 3.17% 4.41% 4.15% -0.48% 13.69% 1.94% 1.86% 4.68%

V.I. High Yield Fund 03/26/02 -6.10% -6.98% -4.04% 2.18% 2.34% 0.29% -4.19% 1.64% 1.59% 2.40% 0.69%

V.I. International Growth Fund 09/19/01 -7.65% -11.99% -2.13% 8.94% 7.36% 5.16% 5.23% 6.58% 6.49% 6.22% 6.12%

American Funds AFIS Asset Allocation Fund 12/15/12 2.52% -8.68% 6.23% 9.80% 8.88% N/A 4.65% 10.21% 7.49% 8.58% N/A

AFIS Capital World Bond Fund 12/15/12 -13.24% -8.10% -11.64% 1.50% 1.30% N/A -1.28% -8.23% 1.45% 0.11% N/A

AFIS Growth-Income Fund 12/15/12 9.27% -7.19% 13.49% 12.85% 13.24% N/A 6.50% 18.76% 9.66% 12.92% N/A

AFIS Capital World Growth & Income Fund 12/15/12 0.94% -9.62% 6.39% 10.41% 10.36% N/A 6.58% 16.54% 7.21% 9.53% N/A AFIS Global Small Capitilization Fund 12/15/12 -1.54% -9.30% 6.32% 15.84% 13.19% N/A 8.73% 24.27% 12.71% 12.94% N/A AFIS American High-Income Trust 12/15/12 -1.88% -6.37% 0.63% 4.85% 4.46% N/A -0.22% 6.37% 4.20% 4.77% N/A

AFIS New World Fund 12/15/12 -5.68% -12.22% 0.76% 13.13% 10.69% N/A 1.59% 15.96% 11.68% 10.18% N/A

VP Growth 05/02/11 16.45% -7.09% 21.73% 25.12% 22.03% 16.74% 14.88% 17.35% 17.65% 19.55% 17.00%

Large Company Value 10/29/04 5.30% -6.84% 8.57% 7.27% 7.11% 10.46% 6.64% 21.02% 6.63% 8.15% 11.63%

Ultra 05/01/02 13.04% -5.85% 19.07% 27.75% 24.74% 18.69% 10.29% 20.34% 21.31% 22.93% 19.29%

Value 08/14/01 8.95% -7.74% 13.36% 7.73% 6.63% 10.64% 7.29% 33.63% 6.30% 7.86% 11.74%

Fidelity^® Investments VIP Disciplined Small Cap 12/27/05 8.33% -11.12% 18.41% 11.71% 8.51% 14.69% 9.78% 43.77% 7.62% 9.91% 16.31%

VIP Index 500 Portfolio 08/27/92 14.24% -6.86% 18.71% 17.08% 15.52% 13.95% 6.35% 20.76% 12.68% 14.52% 14.45%

VIP Dynamic Capital Appreciation 09/25/00 12.70% -7.91% 17.55% 21.57% 17.75% 18.42% 8.81% 18.78% 14.91% 16.43% 18.65%

VIP Contrafund^® Portfolio 01/03/95 16.13% -5.72% 19.76% 22.08% 17.77% 14.49% 7.51% 15.95% 15.42% 16.08% 14.67%

VIP Mid Cap Portfolio 12/28/98 10.98% -7.21% 18.98% 12.61% 10.57% 9.59% 4.73% 31.53% 7.53% 10.58% 10.17%

VIP Freedom Income 04/26/05 -5.97% -7.66% -4.48% 4.81% 4.08% 4.51% 4.86% -2.30% 3.91% 3.59% 4.64%

VIP Growth Opportunities 01/03/95 4.55% -8.68% 11.16% 33.90% 30.39% 23.00% 12.11% 23.40% 29.75% 29.47% 24.02%

VIP Real Estate Portfolio 11/06/02 18.13% -5.79% 21.27% 6.68% 6.15% 10.31% 12.81% 20.57% 5.60% 3.69% 11.10%

3 Most recent calendar quarter

N

ON

-S

TANDARDIZED

A

DJUSTED

H

ISTORIC

A

VERAGE

A

NNUAL

R

ETURNS

A

FTER

S

URRENDER

C

HARGE

2 Average annual return since the inception of the underlying fund option

As of September 30, 2021 As of November 30, 2021

Average annual returns as November 30, 2021

SAVA 5 is a Variable Annuity Contract Issued by National Life Insurance Company. This material is authorized for distribution to prospective policy holders only when preceded or accompanied by current prospectuses for the Contract and related funds. Please read the prospectus and consider carefully the product's objectives, risks, charges and expenses before you invest or send money.

1 Inception date of the underlying fund option except, where additionally noted below.

4 Since inception data is not available, the performance information above uses, April 30^th, 2020 as the inception date.

(4)

COMPLEX SUBACCOUNT

INCEPTION DATE¹

YEAR TO DATE

MRQ Return³

1 YEAR

3 YEARS

5 YEARS

10 YEARS

SINCE INCEPTION²

1 YEAR

3 YEARS

5 YEARS

10 YEARS

Franklin Templeton Allocation VIP Fund 02/29/08 0.27% -7.69% 3.08% 7.44% 6.61% 7.79% 5.34% 6.46% 5.05% 6.62% 8.41%

Mutual Global Discovery VIP Fund 11/08/96 4.34% -8.15% 10.44% 4.24% 3.82% 6.62% 2.09% 27.58% 2.88% 4.91% 7.80%

Franklin Rising Dividends VIP Fund 02/29/08 11.40% -6.75% 14.38% 14.72% 13.62% 12.95% 10.24% 17.64% 11.12% 12.60% 13.44%

Small-Mid Cap Growth VIP Fund 11/01/95 2.66% -7.52% 7.44% 24.23% 18.82% 14.55% 5.56% 20.93% 20.33% 18.32% 15.17%

Templeton Developing Markets VIP Fund 02/29/08 -15.91% -18.87% -9.26% 6.90% 8.29% 3.54% 1.73% 4.55% 5.72% 7.96% 4.84%

Global Bond VIP Fund 02/29/08 -13.70% -9.01% -13.48% -6.49% -2.61% 0.25% 2.36% -12.30% -5.39% -1.74% 0.55%

BlackRock Equity Dividend V.I. Fund 07/01/11 5.47% -8.51% 9.67% 8.22% 8.71% 8.67% 7.83% 25.94% 7.07% 10.26% 9.88%

iShares Alternative Strategies V.I. Fund 04/30/14 -7.00% -7.00% -7.00% -1.70% 2.01% N/A 2.45% -7.00% -1.70% 0.78% N/A 60/40 Target Allocation ETF V.I. Fund 04/30/14 0.06% -8.23% 3.13% 9.89% 8.69% N/A 5.96% 7.63% 7.43% 7.81% N/A iShares Dynamic Fixed Income V.I. Fund 04/30/14 -7.00% -7.00% -7.00% -1.70% -0.57% N/A 0.25% -7.00% -1.70% -1.30% N/A iShares Equity Appreciation V.I. Fund 04/30/14 -7.00% -7.00% -7.00% -1.70% 3.09% N/A 2.15% -7.00% -1.70% 3.13% N/A Advantage SMID Cap V.I. Fund 11/18/03 0.88% -9.97% 5.23% 12.40% 10.03% 10.04% 7.77% 14.24% 9.58% 11.53% 11.45%

Government Money Market V.I. Fund 02/20/92 -8.27% -7.35% -8.38% -2.28% -1.10% -0.31% 1.51% -8.38% -2.17% -1.10% -0.29%

Global Allocation V.I. Fund 11/18/03 -4.34% -9.72% -0.28% 9.38% 7.45% 4.11% 5.39% 7.67% 8.04% 7.22% 4.75%

T. Rowe Price Equity Income Portfolio 04/30/02 9.07% -8.46% 13.90% 7.52% 7.75% 9.42% 5.84% 32.25% 6.24% 8.80% 10.43%

Blue Chip Growth Portfolio 04/30/02 9.03% -7.02% 11.69% 20.30% 21.02% 18.00% 10.18% 13.05% 15.97% 19.91% 18.79%

Health Sciences Portfolio 04/30/02 1.17% -6.16% 5.97% 14.64% 16.11% 18.55% 11.39% 17.12% 12.78% 15.60% 19.59%

Mid-Cap Growth 04/30/02 2.91% -7.35% 7.81% 15.18% 14.99% 14.64% 11.29% 19.17% 12.54% 14.73% 15.76%

AB VPS Balanced Wealth Strategy Portfolio 07/01/04 1.93% -7.46% 5.57% 7.90% 7.32% 7.78% 5.85% 10.84% 5.84% 6.50% 8.28%

Dynamic Asset Allocation Portfolio 04/01/11 -1.58% -8.72% 1.36% 4.74% 4.74% 4.95% 4.37% 4.30% 2.37% 3.73% 5.13%

International Value Portfolio Class B 08/15/01 -3.37% -7.77% 3.12% 2.07% 2.25% 3.58% 3.76% 22.72% -0.68% 2.36% 4.71%

Small/Mid Cap Value Portfolio Class B 05/01/01 19.49% -7.99% 27.48% 8.54% 6.86% 11.34% 9.69% 53.18% 5.27% 8.39% 12.61%

Goldman Sachs VIT Equity Index Fund 01/09/06 14.17% -6.89% 18.61% 16.98% 15.40% 14.68% 9.52% 20.66% 12.58% 14.40% 15.17%

VIT Global Trends Allocation Fund 04/16/12 4.13% -7.28% 6.80% 5.59% 5.77% N/A 4.83% 9.52% 2.87% 5.37% N/A VIT Growth Opportunities Fund 01/09/06 2.29% -5.50% 8.13% 22.56% 19.03% 9.55% 3.01% 20.83% 18.42% 17.82% 10.82%

VIT High Quality Floating Rate Fund 01/09/06 -8.28% -7.34% -8.30% -2.26% -0.88% 0.19% 2.09% -8.11% -2.17% -0.82% 0.22%

VIT Mid Cap Value Fund 01/09/06 13.65% -6.37% 19.59% 13.24% 9.64% 11.04% 7.67% 33.66% 10.05% 9.90% 11.91%

VIT Small Cap Equity Insights Fund 08/31/07 10.98% -10.46% 19.79% 9.96% 8.96% 11.40% 8.01% 39.25% 5.40% 10.27% 12.95%

VanEck VIP Emerging Markets Class I 12/21/95 -18.61% -15.58% -14.37% 6.59% 7.01% 4.93% 1.42% 2.96% 7.34% 6.80% 5.70%

VIP Global Resources Class S 09/01/89 7.32% -14.42% 18.94% 8.63% -1.10% -1.72% 1.64% 27.84% 0.94% -0.59% -1.41%

TC98749(0619)P

The non-standardized adjusted historic average annual performance after surrender charge assumes that the Sentinel Advantage contract had been available since the inception of the underlying fund options and that the subaccounts were available as options under the contract.

Returns are not annualized for periods under one year.

The non-standardized adjusted historic average annual returns before surrender charge are shown as a net rate of return which reflects the portfolios' investment income and capital gains and losses less investment management fees and expenses, and reflects the mortality and expense risk charge of 1.25%, an asset based administrative fee of .15% and an annual contract charge of

$30. Performance does not reflect the deduction of the surrender charge which, if reflected would reduce the performance figures shown. The maximum surrender charge is 7% of premium payments.

2 Average annual return since the inception of the underlying fund option ³Most recent calendar quarter -1.42%

1 Inception date of the underlying fund option

(5)

S ^ENTINEL A ^DVANTAGE V ^ARIABLE A ^NNUITY 5

COMPLEX SUBACCOUNT

INCEPTION DATE¹

YEAR TO DATE

MRQ Return³

1 YEAR

3 YEARS

5 YEARS

10 YEARS

SINCE INCEPTION²

1 YEAR

3 YEARS

5 YEARS

10 YEARS

Touchstone TVST Common Stock 10/27/17 14.06% -6.59% 19.60% 17.77% N/A N/A 14.24% 26.96% 14.49% N/A N/A

Balanced 10/27/17 5.47% -6.82% 8.66% 13.20% N/A N/A 10.26% 13.61% 10.86% N/A N/A

Bond 10/27/17 -9.45% -7.54% -8.91% 3.60% N/A N/A 1.95% -7.55% 3.18% N/A N/A

Invesco V.I. Discovery Mid Cap 04/30/20 8.80% -4.52% 15.81% N/A N/A N/A 35.00% 24.98% N/A N/A N/A

V.I. Diversified Dividend Fund 05/01/16 2.65% -8.46% 5.79% 5.64% 5.33% N/A 5.72% 17.80% 5.12% 5.87% N/A

V.I. Equity and Income Fund 05/01/16 5.47% -7.35% 9.12% 8.49% 6.78% N/A 8.34% 23.09% 6.73% 7.76% N/A

V.I. Government Securities Fund 05/01/16 -10.33% -7.43% -10.20% 0.65% 0.24% N/A 0.45% -9.33% 0.98% -0.14% N/A V.I. Global Real Estate Fund 05/01/16 9.08% -7.90% 11.77% 3.17% 4.41% N/A 3.25% 13.69% 1.94% 1.86% N/A

V.I. High Yield Fund 05/01/16 -6.10% -6.98% -4.04% 2.18% 2.34% N/A 3.15% 1.64% 1.59% 2.40% N/A

V.I. International Growth Fund 05/01/16 -7.65% -11.99% -2.13% 8.94% 7.36% N/A 5.86% 6.58% 6.49% 6.22% N/A

American Funds AFIS Asset Allocation Fund 05/01/16 2.52% -8.68% 6.23% 9.80% 8.88% N/A 9.19% 10.21% 7.49% 8.58% N/A

AFIS Capital World Bond Fund 05/01/16 -13.24% -8.10% -11.64% 1.50% 1.30% N/A 0.73% -8.23% 1.45% 0.11% N/A

AFIS Growth-Income Fund 05/01/16 9.27% -7.19% 13.49% 12.85% 13.24% N/A 13.39% 18.76% 9.66% 12.92% N/A

AFIS Capital World Growth & Income Fund 05/01/16 0.94% -9.62% 6.39% 10.41% 10.36% N/A 10.26% 16.54% 7.21% 9.53% N/A AFIS Global Small Capitilization Fund 05/01/16 -1.54% -9.30% 6.32% 15.84% 13.19% N/A 12.76% 24.27% 12.71% 12.94% N/A AFIS American High-Income Trust 05/01/16 -1.88% -6.37% 0.63% 4.85% 4.46% N/A 5.65% 6.37% 4.20% 4.77% N/A

AFIS New World Fund 05/01/16 -5.68% -12.22% 0.76% 13.13% 10.69% N/A 10.37% 15.96% 11.68% 10.18% N/A

VP Growth 05/01/16 16.45% -7.09% 21.73% 25.12% 22.03% N/A 20.56% 17.35% 17.65% 19.55% N/A

Large Company Value 05/01/16 5.30% -6.84% 8.57% 7.27% 7.11% N/A 8.24% 21.02% 6.63% 8.15% N/A

Ultra 05/01/16 13.04% -5.85% 19.07% 27.75% 24.74% N/A 22.90% 20.34% 21.31% 22.93% N/A

Value 05/01/16 8.95% -7.74% 13.36% 7.73% 6.63% N/A 8.19% 33.63% 6.30% 7.86% N/A

Fidelity^® Investments VIP Disciplined Small Cap 05/01/16 8.33% -11.12% 18.41% 11.71% 8.51% N/A 10.91% 43.77% 7.62% 9.91% N/A VIP Index 500 Portfolio 05/01/16 14.24% -6.86% 18.71% 17.08% 15.52% N/A 15.29% 20.76% 12.68% 14.52% N/A VIP Dynamic Capital Appreciation 05/01/16 12.70% -7.91% 17.55% 21.57% 17.75% N/A 16.65% 18.78% 14.91% 16.43% N/A VIP Contrafund^® Portfolio 05/01/16 16.13% -5.72% 19.76% 22.08% 17.77% N/A 16.97% 15.95% 15.42% 16.08% N/A

VIP Mid Cap Portfolio 05/01/16 10.98% -7.21% 18.98% 12.61% 10.57% N/A 11.27% 31.53% 7.53% 10.58% N/A

VIP Freedom Income 05/01/16 -5.97% -7.66% -4.48% 4.81% 4.08% N/A 4.19% -2.30% 3.91% 3.59% N/A

VIP Growth Opportunities 05/01/16 4.55% -8.68% 11.16% 33.90% 30.39% N/A 27.38% 23.40% 29.75% 29.47% N/A

VIP Real Estate Portfolio 05/01/16 18.13% -5.79% 21.27% 6.68% 6.15% N/A 5.11% 20.57% 5.60% 0.04 N/A

3 Most recent calendar quarter

2 Average annual return since the inception of the separate account Average annual returns as November 30, 2021

SAVA 5 is a Variable Annuity Contract Issued by National Life Insurance Company. This material is authorized for distribution to prospective policy holders only when preceded or accompanied by current prospectuses for the Contract and related funds. Please read the prospectus and consider carefully the product's objectives, risks, charges and expenses before you invest or send money.

As of November 30, 2021

1 Date the portfolio was first included in the subaccount, except where additionally noted below

S

TANDARDIZED

A

VERAGE

A

NNUAL

R

ETURNS

As of September 30, 2021

(6)

COMPLEX SUBACCOUNT DATE DATE Return YEAR YEARS YEARS YEARS INCEPTION YEAR YEARS YEARS YEARS

Franklin Templeton Allocation VIP Fund 05/01/16 0.27% -7.69% 3.08% 7.44% 6.61% N/A 7.46% 6.46% 5.05% 6.62% N/A

Mutual Global Discovery VIP Fund 05/01/16 4.34% -8.15% 10.44% 4.24% 3.82% N/A 5.25% 27.58% 2.88% 4.91% N/A

Franklin Rising Dividends VIP Fund 05/01/16 11.40% -6.75% 14.38% 14.72% 13.62% N/A 13.77% 17.64% 11.12% 12.60% N/A

Small-Mid Cap Growth VIP Fund 05/01/16 2.66% -7.52% 7.44% 24.23% 18.82% N/A 18.00% 20.93% 20.33% 18.32% N/A

Templeton Developing Markets VIP Fund 05/01/16 -15.91% -18.87% -9.26% 6.90% 8.29% N/A 9.45% 4.55% 5.72% 7.96% N/A

Global Bond VIP Fund 05/01/16 -13.70% -9.01% -13.48% -6.49% -2.61% N/A -1.59% -12.30% -5.39% -1.74% N/A

BlackRock Equity Dividend V.I. Fund 05/01/16 5.47% -8.51% 9.67% 8.22% 8.71% N/A 9.81% 25.94% 7.07% 10.26% N/A

iShares Alternative Strategies V.I. Fund 05/01/16 -7.00% -7.00% -7.00% -1.70% 2.01% N/A 1.77% -7.00% -1.70% 0.78% N/A 60/40 Target Allocation ETF V.I. Fund 05/01/16 0.06% -8.23% 3.13% 9.89% 8.69% N/A 8.25% 7.63% 7.43% 7.81% N/A iShares Dynamic Fixed Income V.I. Fund 05/01/16 -7.00% -7.00% -7.00% -1.70% -0.57% N/A -0.23% -7.00% -1.70% -1.30% N/A iShares Equity Appreciation V.I. Fund 05/01/16 -7.00% -7.00% -7.00% -1.70% 3.09% N/A 3.94% -7.00% -1.70% 3.13% N/A Advantage SMID Cap V.I. Fund 05/01/16 0.88% -9.97% 5.23% 12.40% 10.03% N/A 12.38% 14.24% 9.58% 11.53% N/A Government Money Market V.I. Fund 05/01/16 -8.27% -7.35% -8.38% -2.28% -1.10% N/A -0.56% -8.38% -2.17% -1.10% N/A

Global Allocation V.I. Fund 05/01/16 -4.34% -9.72% -0.28% 9.38% 7.45% N/A 7.27% 7.67% 8.04% 7.22% N/A

T. Rowe Price Equity Income Portfolio 05/01/16 9.07% -8.46% 13.90% 7.52% 7.75% N/A 9.12% 32.25% 6.24% 8.80% N/A

Blue Chip Growth Portfolio 05/01/16 9.03% -7.02% 11.69% 20.30% 21.02% N/A 19.90% 13.05% 15.97% 19.91% N/A Health Sciences Portfolio 05/01/16 1.17% -6.16% 5.97% 14.64% 16.11% N/A 14.73% 17.12% 12.78% 15.60% N/A

Mid-Cap Growth 05/01/16 2.91% -7.35% 7.81% 15.18% 14.99% N/A 14.54% 19.17% 12.54% 14.73% N/A

AB VPS Balanced Wealth Strategy Portfolio 05/01/16 1.93% -7.46% 5.57% 7.90% 7.32% N/A 7.02% 10.84% 5.84% 6.50% N/A

Dynamic Asset Allocation Portfolio 05/01/16 -1.58% -8.72% 1.36% 4.74% 4.74% N/A 4.63% 4.30% 2.37% 3.73% N/A International Value Portfolio Class B 05/01/16 -3.37% -7.77% 3.12% 2.07% 2.25% N/A 2.09% 22.72% -0.68% 2.36% N/A Small/Mid Cap Value Portfolio Class B 05/01/16 19.49% -7.99% 27.48% 8.54% 6.86% N/A 9.39% 53.18% 5.27% 8.39% N/A

Goldman Sachs VIT Equity Index Fund 05/01/16 14.17% -6.89% 18.61% 16.98% 15.40% N/A 15.18% 20.66% 12.58% 14.40% N/A

VIT Global Trends Allocation Fund 05/01/16 4.13% -7.28% 6.80% 5.59% 5.77% N/A 5.88% 9.52% 2.87% 5.37% N/A VIT Growth Opportunities Fund 05/01/16 2.29% -5.50% 8.13% 22.56% 19.03% N/A 17.11% 20.83% 18.42% 17.82% N/A VIT High Quality Floating Rate Fund 05/01/16 -8.28% -7.34% -8.30% -2.26% -0.88% N/A -0.23% -8.11% -2.17% -0.82% N/A

VIT Mid Cap Value Fund 05/01/16 13.65% -6.37% 19.59% 13.24% 9.64% N/A 10.75% 33.66% 10.05% 9.90% N/A

VIT Small Cap Equity Insights Fund 05/01/16 10.98% -10.46% 19.79% 9.96% 8.96% N/A 11.38% 39.25% 5.40% 10.27% N/A

VanEck VIP Emerging Markets Class I 05/01/16 -18.61% -15.58% -14.37% 6.59% 7.01% N/A 6.82% 2.96% 7.34% 6.80% N/A

VIP Global Resources Class S 05/01/16 7.32% -14.42% 18.94% 8.63% -1.10% N/A 2.06% 27.84% 0.94% -0.59% N/A

MK0327E(1121)

TC98749(0619)P 64538

-1.42%

1 Date the portfolio was first included in the subaccount, except where additionally noted below

3 Most recent calendar quarter Contract inception date was 5/1/2016.

The standardized average annual returns are shown as a net rate of return which reflects the portfolios' investment income and capital gains and losses less investment management fees and expenses, and reflects the mortality and expense risk charge of 1.25%, an asset based administrative fee of .15% and an annual contract charge of $30. Performance reflects the deduction of the surrender charge which reduces the performance compared to performance under the assumption that the contract is not surrendered. The maximum surrender charge is 7% of premium payments. The surrender charge schedule applies to each premium payment and declines for each completed year since payment.

2 Average annual return since the inception of the separate account

SAVA 5, Form Policy Series 7400/7401/7400ID(0199)/7401ID(0199), is distributed by Equity Services, Inc., a Member FINRA/SIPC, a broker-dealer affiliate of National Life Insurance Company, One National Life Drive, Montpelier, VT 05604 (800)233-4332.

NATIONAL LIFE INSURANCE COMPANY

HOME OFFICE: ONE NATIONAL LIFE DR., MONTPELIER, VT 05604 (802)-229-3333 WWW.NATIONALLIFE.COM

(7)

Effective June 16, 2016, the Sentinel VPT Mid Cap Fund has been eliminated. The assets held in the Sentinel VPT Mid Cap Fund have transferred to the Sentinel VPT Small Company Fund.

Effective May 1, 2017, the Franklin High Income VIP Fund has been eliminated. The assets held in the Franklin High Income VIP Fund have transferred to the Black Rock Government Money Market V.I. Fund.

Effective April 30, 2020, the Invesco V.I. Mid Cap Growth fund will have all of its' assets moved to the Invesco IO V.I. Discovery Mid Cap fund.

Effective May 1, 2020, the American Funds AFIS Global Bond Fund will be renamed as American Funds AFIS Capital World Bond Fund.

Effective May 15, 2021, the Van Eck Global Hard Assets Class S fund will be renamed as Van Eck Global Resources Class S fund.

Effective May 15, 2021, the American Funds AFIS American High-Income Bond Fund has been renamed as American Funds AFIS American High-Income Trust.

Effective May 15, 2021, the American Funds AFIS Global Growth & Income Fund was renamed AFIS Capital World Growth & Income Fund.

Effective May 15, 2021, the BlackRock Advantage U.S. Total Market V.I. Fund has been renamed BlackRock Advantage SMID Cap V.I. Fund.

Effective close of business October 29, 2021, National Life Insurance Company no longer issues new SAVA5 contracts. This does not affect the status of current contract Effective April 29, 2019, the AB VPS Growth Portfolio has been eliminated.

Effective May 1, 2019, the Franklin Templeton Founding Funds Allocation VIP Fund has been renamed as the Franklin Templeton Allocation VIP Fund.

Effective May 1, 2019, the BlackRock iShares Dynamic Allocation V.I. Fund has been renamed as the BlackRock 60/40 Target Allocation ETF V.I. Fund.

Effective October 27, 2017 the Sentinel VPT funds were transferred to the Touchstone TVST funds.

owners or the servicing of current in-force contracts.

Effective November 20, 2017, the Van Eck VIP Long/Short Equity Index Fund has been eliminated.

Effective June 12, 2017, the BlackRock Value Opportunities V.I. Fund has been renamed as the BlackRock Advantage U.S. Total Market V.I. Fund.

Effective April 24, 2019, the AB VPS Real Estate Investment Portfolio has been liquidated.

SENTINEL ADVANTAGE VARIABLE ANNUITY 5 NON-STANDARDIZED ADJUSTED HISTORIC AVERAGE ANNUAL RETURNS BEFORE SURRENDER CHARGE

S ENTINEL A DVANTAGE V ARIABLE A NNUITY 5

N

-S

A

H

A

A

R

B

S

C

S ENTINEL A DVANTAGE V ARIABLE A NNUITY 5

N

-S

A

H

A

A

R

A

S

C

S ENTINEL A DVANTAGE V ARIABLE A NNUITY 5

S

A

A

R

NATIONAL LIFE INSURANCE COMPANY

HOME OFFICE: ONE NATIONAL LIFE DR., MONTPELIER, VT 05604 (802)-229-3333 WWW.NATIONALLIFE.COM

S ^ENTINEL A ^DVANTAGE V ^ARIABLE A ^NNUITY 5

S ^ENTINEL A ^DVANTAGE V ^ARIABLE A ^NNUITY 5

S ^ENTINEL A ^DVANTAGE V ^ARIABLE A ^NNUITY 5