UBS Innovative Balanced Index

† Index performance reflects back-tested results, which is not actual performance, but is calculated by applying the index methodology (designed with the benefit of hindsight) to historical financial data. While the index did not exist during this time period, the components did. Back-tested performance is hypothetical and has been provided for informational purposes only. It is not intended to predict future performance and actual performance will vary, perhaps materially, from the hypothetical performance shown above. The hypothetical performance of the index does not correlate directly to index credits. Please refer to the Index Strategy Insert for more information about how interest is credited.

The index is an excess return index. The returns of the index will reflect the performance of the underlying components in excess of a reference rate that could be earned on cash or a similar risk-free benchmark asset. Additionally, the performance of the index includes an embedded fee and may also include other costs such as transaction and replication costs. These costs may vary over time with market conditions. The excess return nature of index and the embedded fees and costs will all reduce index performance and the potential interest credited within the annuity contract. Because the index applies a volatility control mechanism, the range of both the positive and negative performance of the index is limited. The embedded fee for the UBS Innovative Balanced Index is 0.50% per year, deducted daily.

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UBS AG and its affiliates (“UBS”) do not guarantee the accuracy and/or completeness of any Athene annuity (the “Product”), the Product’s methodology, any data included therein, or any data from which it is based, and UBS shall have no liability for any errors, omissions, or interruptions therein. UBS does not make any warranty, express or implied, as to results to be obtained from purchasing the Product. UBS does not make any express or implied warranties, and it expressly disclaims all warranties of merchantability or fitness for a particular purpose with respect to the Product or any data included therein. Without limiting any of the foregoing, in no event shall UBS have any liability for any special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

UBS does not endorse, sell, or promote the Product. A decision to purchase the Product should not be made in reliance on any of the statements set forth in this material. Prospective purchasers are advised to purchase the Product only after carefully considering the risks associated with the Product, as detailed in a disclosure document or prospectus that is prepared by or on behalf of Athene Annuity and Life Company (“Licensee”), the issuer of the Product. UBS has licensed certain UBS marks and other data to Licensee for use in the Product and the branding of the Product, but UBS is not involved in the calculation of the Product, the construction of the Product’s methodology or the creation of the Product. UBS is not involved in the sale or offering of the Product, and UBS does not make any representations or warranties with respect to the Product.