LINCOLN NATIONAL CORP

Lincoln National Corporation is a holding company that operates multiple insurance and retirement businesses through its subsidiary companies. Organized in Indiana in 1968, the company maintains its principal executive offices in Radnor, Pennsylvania. "Lincoln Financial" is the marketing name for the company and its subsidiaries. Lincoln National Corporation provides products and services through four business segments: Annuities, Life Insurance, Group Protection, and Retirement Plan Services. The company also has Other Operations, which includes financial results not directly related to the business segments. Lincoln Financial Distributors (LFD), the company's wholesale distributor, distributes individual life insurance and annuity products, retirement plan products and services, and corporate-owned universal life insurance and variable universal life insurance (COLI) and bank-owned universal life insurance and variable universal life insurance (BOLI) products and services. This distribution occurs through financial intermediaries such as consultants, brokers, planners, agents, financial advisers, third-party administrators (TPAs), and financial institutions. Group Protection products and services are distributed primarily through employee benefit brokers, TPAs, and other employee benefit firms. As of December 31, 2025, LFD had approximately 450 internal and external wholesalers (including sales and relationship managers). The results through May 6, 2024, of Lincoln Financial Network (LFN), the former retail distributor, are included in the business segments for which it distributed products.