EMPOWER ANNUITY INSURANCE COMPANY

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Item 4 — Advisory Business Description of Advisory Firm EAG is a registered Investment adviser under the Advisers Act since 2000. It submits notice filings With state securities divisions in all 50 states, the District of Columbia, Guam, US Virgin Islands, and Puerto Rim. EAG offers Investment management and advisoryservices primarily to plan sponsors of employer -sponsored retirement plans such as 4O1(a), 401(k), 4O3(b) and 457 plans, Including government entities and their participants, and toall account holders of the Empower Premier IRA and Empower Managed Portfolio accounts. EAG also offers Investment management services to retail brokerage account holders. EAG does not choose the investments offered in employer -sponsored retirement plans. EAG serviced plans receive recordkeeping services through Empower Retirement, LLC (Empower), the recordkeeping entity affiliated with EAG. More information about EAG's services, including an applicable brochure, can be obtained by contacting EAG atthe number provided on the cover page of this Brochure or by visiting EAG's website at www.empower.com/eag. EAG's principal place of business Is Greenwood Village, CO. EAG Is a wholly owned subsidiary of Empower Annuity Insurance Company of America (EAIC), an insurance company domiciled in the State of Colorado. EAIC is a direct, wholly owned subsidiary of Empower Holdings, Inc. (EHI), a Delaware holding company. EHI is a direct wholly owned subsidiary of Great -West Lifeco U.S. LLC. (Lifeco U.S.) and an indirect wholly owned subsidiary of Great -West Lifeco Inc. (Lifeco), a Canadian holding company. Lifeco is a subsidiary of Power Financial Corporation (Power Financial), a Canadian holding company with substantial Interests in the financial services industry. Prover Corporation of Canada (Power Corporation), a Canadian holding and management company, has voting control of Power Financial. The Desmarais Family Residuary Trust has voting control of Power Corporation, through a group of private holding companies that it controls. Types of Services EAG provides a range of direct account holder -level and participant -level investment services as well as services provided indirectly through private -label arrangements with institutional partners (the Services). The Services Include Online Investment Guidance (OIG), Online Advice (OA), and the Managed Account service (MA Service) or My Total Retirement (MTR). Other services that may be available to clients include Spend -Down Advice, Financial Planning Service and Retirement Income Projection Tools and Services. EAG provides its Services through a proprietary, computer -based software program that is developed and maintained by Morningstar Investment Management. In addition, EAG provides sub -advisory and technology services to outside adviser firms through a service called Advisor Managed Accounts (AMA). This service enables the AMA firms to offer their own investment advisory and management services within retirement plans serviced by Empower. The total sub -advised assets as of December 31, 2021, for this service totaled S1,929,645,216. Thera is no guarantoo provided by any partythat participation in any of the advisory services will result in a profit. Morningstar Investment Management LLC Morningstar Investment Management is a registered investment adviser wholly owned by Morningstar, Inc. and is not affiliated with EAG or any company that is affiliated with EAG. Morningstar Investment Management is located In Chicago, Illinois. A copy of Its Form ADV Part 2A brochure may be obtained at www.advlserinfo.sea.gov. Morningstar Investment Management serves as an Independent financial expert (IFE) in accordance with the Department of Labor SunAmerim Advisory Opinion 2001-O9A, dated December 14, 2001(the SunAmerica Opinion). Morningstar Investment Management uses Its proprietary methodology to evaluate the available investment options line retirement plan and redevelop an Individualized investment strategy for plan participantsand account holders. The plan, plan sponsor or plan fiduciary must select and continuously maintain frwesbnent options that cover broad asset categories. The Investment options selected for the plan generally consist of a broad range of asset classes. More information Is provided under Item 10 —Other Financial Industry Affiliations. Item 8, Methods of Analysis and Investment Strategies and Risk of Loss discusses the general risks of investing. The risks associated City Council 19 — 82 9/19/2023