As of end of May 2025, the expected hedge cost is estimated to be 106 bps for a hypothetical lifetime withdrawal benefit (GLWB) on variable annuities (VA) and 105 bps for registered index-linked annuities (RILA), down 10 basis points and down 12 basis points respectively from the previous month, driven by an increase in long-term interest rates. The Index Methodology provides additional details about the assumptions and methodologies underlying the Milliman Hedge Cost Index™ (MHCI).