Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print LVIP JPMorgan U.S. Equity Standard Release date as of 2024-03-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2024-03-31 Out of 1293 Large Blend Funds Morningstar® Style Box™ What is this? As of 2023-12-31 Total Fund Assets ($ Mil) 192.9 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks high total return. Under normal circumstances, the Portfolio invests at least 80% of its assets in equity securities of U.S. companies. It primarily invests in common stocks of large- and mid-capitalization U.S. companies but it may also invest up to 20% of its assets in common stocks of foreign companies, including depositary receipts. The Portfolio focuses on those equity securities that the manager considers attractively valued and seeks to outperform the benchmark through superior stock selection.

Morningstar Category: Large Blend Large-blend portfolios are fairly representative of the overall US stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the US equity market are defined as large cap. The blend style is assigned to portfolios where neither growth nor value characteristics predominate. These portfolios tend to invest across the spectrum of US industries, and owing to their broad exposure, the portfolios' returns are often similar to those of the S&P 500 Index.

Investment Risks There are no additional fund specific investment risks (e.g. liquidity risk, currency risk, foreign investment risk, etc.) associated with this fund beyond the normal risks generally associated with investing in a mutual fund.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 95.2 Non-U.S. Stocks 3.6 Bonds 0.0 Cash 1.2 Other 0.0 Data through 2023-12-31 Morningstar Equity Sectors % of Stocks Cyclical 29.82 Basic Materials 2.83 Consumer Cyclical 11.49 Financial Services 13.14 Real Estate 2.36 Sensitive 49.96 Communication Services 5.91 Energy 5.28 Industrials 10.54 Technology 28.23 Defensive 20.23 Consumer Defensive 2.32 Healthcare 13.91 Utilities 4.00 Data through 2023-12-31 Holding Status Total Number of Stock Holdings 55 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 38.56 Turnover % (as of 2023-12-31) 65.00 30 Day SEC Yield % --- Top Holdings Sector P/E % of Net Assets Microsoft Corp 38.04 9.22 Apple Inc 26.67 4.97 Amazon.com Inc 62.20 4.57 NVIDIA Corp 75.74 3.26 UnitedHealth Group Inc 20.73 3.13 Alphabet Inc Class A 26.02 2.99 Meta Platforms Inc Class A 32.66 2.84 AbbVie Inc 66.95 2.66 Morgan Stanley 18.18 2.46 NXP Semiconductors NV --- 2.46 Data through 2023-12-31

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Value Investing, Market/Market Volatility, Equity Securities, Industry and Sector Investing, Restricted/Illiquid Securities, Derivatives, Socially Conscious, Cash Drag, Shareholder Activity, Mid-Cap, Large Cap, Money Market Fund Ownership Show Risk Definitions

Other Information Inception Date: 1995-03-30 Portfolio Manager(s) Scott B. Davis   (2017-01-06) Scott B. Davis, managing director, is a portfolio manager in the U.S. Equity Group. An employee since 2006, Scott was previously a media and internet analyst in the U.S. Equity Research Group. David Small   (2016-07-21) David Small, managing director, is the Director of U.S. Equity Research. He was the Associate Director of U.S. Equity Research from July2015 to July 2016 and was an insurance analyst on the Fundamental Research Team from 2008 to 2016. Shilpee Raina   (2021-11-01) Shilpee Raina, executive director, is a research analyst on the Equity Income Strategy within the U.S. Equity Group. Shilpee is a generalist analyst whose research coverage spans various industries. An employee since 2005, Shilpee has been a dedicated research analyst on the Equity Income Strategy since 2008 and was previously focused on the Mid Cap Value portfolios where she conducted research within the media sector, while also responsible for daily implementation and portfolio analytics for the broader Value Team. Shilpee holds a B.S. in Commerce with concentrations in Finance and Accounting from University of Virginia’s McIntire School of Commerce. She is a member of both the New York Society of Security Analysts and the CFA Institute and is a CFA charterholder. Investment Advisor(s) Lincoln Financial Investments Corporation Issuer Lincoln National Subadvisor(s) J.P. Morgan Investment Management, Inc.

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