Maximum Anniversary Value death bene昀椀t With the Maximum Anniversary Value death bene昀椀t, the death bene昀椀t increases with the contract value and can be locked in each contract anniversary. Once locked in, the amount never falls below the highest anniversary lock-in amount, even when the contract value decreases. Your bene昀椀ciaries will receive the greatest of the: • Contract value, or • Total investment in the variable annuity, less an adjustment for each prior withdrawal, or • Maximum Anniversary value attained before your 83rd birthday or date of your passing, whichever is earlier, less an adjustment for each prior withdrawal. Even after contract value decreases, your bene昀椀ciaries receive the contract value as of the highest annual lock-in Your bene昀椀ciaries receive upon your death. the total investment in the variable annuity upon your death. Contract value 1 2 3 4 5 6 7 8 9... Contract anniversary Lock-in opportunity Death bene昀椀t Total investment This chart is hypothetical and is intended solely to demonstrate how the Maximum Anniversary Value death bene昀椀t works and assumes one single investment and no withdrawals. It is not indicative of the performance of any variable annuity investment option, does not re昀氀ect any actual account values, prior withdrawals nor any fees associated with Protective's variable annuities. 3