Dual Performance Trigger and Dual15 Plus available with Lincoln Level Advantage^® registered indexed-linked annuity offer investors growth potential in up, flat and even down markets

Lincoln Financial Group (NYSE: LNC) continues to innovate its best-selling registered indexed-linked annuity (RILA), Lincoln Level Advantage^®, with the introduction of two new crediting strategies – Dual Performance Trigger and Dual15 Plus – designed to allow for more upside in down markets. These enhancements come as 85% of U.S. adults say they’d like to invest their money in a solution that protects them from losses during times of market volatility,² according to recent data by Lincoln Financial Group.

With money market yields averaging 4-5% for the first time in over a decade,³ investors are choosing to hold their cash, bringing cash balances to a record high of $5.4 trillion in money market assets as of May 2023.⁴ Dual Performance Trigger and Dual15 Plus are designed to provide a solution for investors concerned about market volatility by offering protection in up, flat and down markets without missing out on investment opportunities.

“Protecting assets from inflation and market volatility has become a top priority for investors in recent years, but that has created significant increases in cash holding which can come at a big cost long term,” said Daniel Herr, senior vice president, Annuity Product Management at Lincoln Financial Group. “These product enhancements give investors opportunities to stay invested while managing market volatility. Investors who are fearful of the market can stop parking assets in cash and instead stay invested in a way that not only protects them against market volatility, but also gives them the opportunity for growth in flat and certain down-market scenarios.”

Lincoln Level Advantage offers a variety of crediting strategies to help support individuals’ unique investment goals. Both new strategies can help clients grow their account value when the market is up, flat or down allowing them to face uncertainty with more confidence. The Dual Performance Trigger offers a 1-year term, providing investors the flexibility to reinvest or reallocate every year, while Dual15 Plus offers a 6-year term.

“Since 1972, the S&P 500^® Index declined 52 out of 529 times over a 6-year period.⁵ With Dual15 Plus, 50 of those declines would have resulted in positive returns,” said Tim Seifert, senior vice president and head of Retirement Solutions Distribution at Lincoln Financial Group. “This is just one example of the impact these crediting strategies can have as part of a holistic financial plan, and we at Lincoln Financial are happy to offer these solutions as another way for advisors to help clients retire with confidence.”

About Lincoln Level Advantage

Since launching five years ago, Lincoln Level Advantage registered indexed-linked annuity (RILA) has been Lincoln’s most successful product launch to-date with more than $13 billion in lifetime sales. The RILA provides investors the ability to tailor a combination of protection levels with indexed account options to help meet their risk tolerance, individual investment style and retirement income planning goals.

The product has been lauded by investors and the industry alike, earning recognition from Structured Retail Products in 2019 and 2021, was the number one selling registered index-linked annuity in the industry for 2020⁶ and named in Barron’s annual “The 100 Best Annuities for Today’s Market” feature more times than any other RILA.

For more information about Lincoln Level Advantage indexed variable annuity, visit www.LFG.com/LevelAdvantage.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. As of December 31, 2022, approximately 16 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, and guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $299.2 billion in end-of-period account balances, net of reinsurance as of June 30, 2023. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and ranks among Newsweek’s Most Responsible Companies. Dedicated to diversity, equity and inclusion, we are included on transparency benchmarking tools such as the Corporate Equality Index, the Disability Equality Index and the Bloomberg Gender-Equality Index. Committed to providing our employees with flexible work arrangements, we were named to FlexJobs’ list of the Top 100 Companies to Watch for Remote Jobs in 2022. With a long and rich legacy of acting ethically, telling the truth and speaking up for what is right, Lincoln was recognized as one of Ethisphere’s 2023 World’s Most Ethical Companies®. We create opportunities for early career talent through our intern development program, which ranks among WayUp and Yello’s annual list of Top 100 Internship Programs. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

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¹ Source: Morningstar. Data as of 6/30/23

² Source: Lincoln Financial, Consumer Sentiment Tracker, 2023.

³ Source: Federal Reserve Bank of St Louis, as of June 30, 2023. 3-month U.S. Treasury Bill used as a proxy for money market yield.

⁴ Source: Morningstar. Data as of 6/30/23

⁵ Source: Lincoln Financial Group and Yahoo Finance, 2023.

⁶ Source: LIMRA Fact Tank, March 9, 2021

Important information:

Lincoln Financial Group® affiliates, their distributors, and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Please consult an independent professional as to any tax, accounting, or legal statements made herein.

Lincoln Level Advantage® indexed variable annuity is a long-term investment product designed for retirement purposes. There are no explicit fees associated with the indexed-linked account options available. Annuities are subject to market risk including loss of principal. Withdrawals are subject to ordinary income tax treatment and, if taken prior to age 59½ in nonqualified contracts, may be subject to an additional 10% federal tax.

Indexed-linked annuity products are complex insurance and investment vehicles and are subject to surrender charges for early withdrawals and interest rate adjustments for withdrawals. Please reference the prospectus for information about the levels of protection available and other important product information.

The risk of loss occurs each time you move into a new indexed account. The protection level option selected in the indexed account helps protect you from some downside risk. If the negative return is in excess of the protection level selected, there is a risk of loss of principal. Protection levels that vary based on the index and term selected are subject to change and may not be available with every option. Please see the prospectus for details.

Investors are advised to consider the investment objectives, risks, and charges and expenses of the annuity and its underlying investment options carefully before investing. The applicable prospectuses for the variable annuity and its underlying investment options contain this and other important information. Please call 888-868-2583 for free prospectuses. Read them carefully before investing or sending money. Products and features are subject to state availability.

Lincoln Level Advantage® indexed variable annuities (contract forms 30070-A, 30070-B, and state variations*) are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.

All contract and rider guarantees, including those for optional benefits, payment from the indexed accounts, or annuity payout rates, are subject to the claims-paying ability of the issuing insurance company. They are not backed by the broker-dealer or insurance agency from which this annuity is purchased, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer.

This product and the components and features contained within are not available in all states or firms. Please reach out to your registered representative for more details on state approvals and firm guidelines.

There is no additional tax-deferral benefit for an annuity contract purchased in an IRA or other tax-qualified plan.

* Contract forms 30070-BID and 30070-A-ID 8/03 in Idaho.

Not available in New York.

LCN-5858754-080423

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