As of end of November 2025, the expected hedge cost is estimated to be 109 bps for a hypothetical lifetime withdrawal benefit (GLWB) on variable annuities (VA) and 105 bps for registered index-linked annuities (RILA), staying unchanged from the previous month, driven by minimal changes in long-term interest rates. The Index Methodology provides additional details about the assumptions and methodologies underlying the Milliman Hedge Cost Index (MHCI).