PSF Diversified Bond QQQQQ - Pacific Life

1 Release Date: 09-30-2020 PSF Diversified bond Available through Pacific Life Variable Annuity ProductsBenchmark: BBgBarc US Agg bond TR USDO verall Morningstar Rating Morningstar ReturnMorningstar RiskQQQQQHighHighOut of 2679 Intermediate Core bond VA subaccounts. An investment's overall Morningstar Rating, based on itsrisk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure Strategy from underlying investment's prospectusThe investment seeks to maximize total return consistent with prudent investment management. The fund normally invests at least 80% of its assets in debt securities.

2 Such investments include government and agency securities; corporate bonds and notes; convertible securities; inflation-indexed securities; asset-backed and mortgage-backed securities; and variable and floating rate debt securities. It may invest up to 25% of its assets in securities that are rated non-investment grade or if unrated, are of comparable quality as determined by the Description: Intermediate Core BondIntermediate-term core bond portfolios invest primarily ininvestment-grade fixed-income issues includinggovernment, corporate, and securitized debt, and hold lessthan 5% in below-investment-grade exposures. Theirdurations (a measure of interest-rate sensitivity) typicallyrange between 75% and 125% of the three-year average ofthe effective duration of the Morningstar Core bond Proprietary Statistics as of 09-30-20 Fund RankMorningstarout of # Year2 QQQQQ26795 Year1 QQQQQ219010 Year1 QQQQQ1368 OperationsSubaccount Incp Date05-01-06 Management CompanyPacific Life Fund Advisors LLC(PLFA)SubadvisorWestern Asset ManagementCompany, LLCP ortfolio Manager(s)Mark Lindbloom.

3 Since Leech. Since Scholnick. Since Bellows. Since Marki. Since SustainabilityMorningstar Sustainability Rating as of 08-31-20 Not AvailableGlobal Sustainability % Rank in Global CategorySustainability Morningstar Sustainability Score is based on company-level analysis from Sustainalytics. See disclosure for AnalysisComposition as of 09-30-20% Statistics as of 09-30-20 Avg Eff Wtd Measures as of 09-30-20 Port AvgRel BC AggrRel Cat3 Yr Std Yr Yr Sharpe Yr Yr Information Holdings as of 09-30-20% AssetsUs 5yr Note (Cbt) Dec20 Xcbt 20201231 Ultra bond Cbt Dec20 Xcbt 20201221 10yr Note (Cbt)dec20 Xcbt 20201221 Future Dec20 Xeur 20201208 2yr Note (Cbt) Dec20 Xcbt 20201231 Future Dec20 Xeur 20201208 Gilt Future Dec20 Ifll 20201229 Long bond (Cbt) Dec20 Xcbt 20201221 10yr Ultra Fut Dec20 Xcbt 20201221 10y bond (Ose)

4 Dec20 Xose 20201214 States Treasury Bonds States Treasury Notes National Mortgage Associatio 2% States Treasury Notes States Treasury Bonds 1% Number of Stock Holdings1 Total Number of bond Holdings1760 Annual Turnover Ratio % Cost Ratio 3 Fund Assets ($mil)4, Page 2 for important disclosure 2020 Morningstar, Inc., Morningstar Investment Profiles 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary toMorningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. NeitherMorningstar nor its content providers are responsible for any damages or losses arising from any use of information.

5 Past performance is no guarantee offuture performance. Visit our investment website at Page 1 of 5 Release Date: 09-30-2020 PSF Diversified bond Available through Pacific Life Variable Annuity ProductsBenchmark: BBgBarc US Agg bond TR USDO verall Morningstar Rating Morningstar ReturnMorningstar RiskQQQQQHighHighOut of 2679 Intermediate Core bond VA subaccounts. An investment's overall Morningstar Rating, based on itsrisk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure OrientationFixed Income Style as of 09-30-20 LimModExtHighMedLowFixed Income Style Trail as of 09-30-20 LimModExtHighMedLowInvestment09-30-20170 9-30-2020 Fixed Income Statistics as of 09-30-20 Avg Eff Wtd Evaluation as of 09-30-20 Total Return-10-505101520-10-505101520 Standard Deviation %H Investment H Benchmark Category AverageRisk Measures as of 09-30-203-Year5-Year10-YearStandard AnalysisLowModerateHighInvestmentCategor yIn the past, this investment has shown a relatively smallrange of price fluctuations relative to other on this measure.

6 Currently more than two-thirds of allinvestments have shown higher levels of risk. Consequently,this investment may appeal to investors looking for aconservative investment 3 Month ReturnWorst 3 Month (Apr '20 - Jun '20)(Aug '08 - Oct '08)NotesPacific Life is a product provider. It is not a fiduciary andtherefore does not give advice or make recommendationsregarding insurance or investment annuities are long-term investments designed forretirement. The value of the variable investment options willfluctuate so that shares, when redeemed, may be worth moreor less than the original cost. Annuity withdrawals and otherdistributions of taxable amounts, including death benefitpayouts, will be subject to ordinary income tax.

7 Fornonqualified contracts, an additional tax of may apply onnet investment income. If withdrawals and other distributionsare taken prior to age 59 1/2, an additional 10% federal taxmay apply. A withdrawal charge also may apply. Withdrawalswill reduce the contract value and the value of the deathbenefits, and also may reduce the value of any Life refers to Pacific Life Insurance Company and itsaffiliates, including Pacific Life & Annuity Company. Insuranceproducts are issued by Pacific Life Insurance Company in allstates except New York and in New York by Pacific Life &Annuity Company. Product availability and features may varyby state.

8 Each insurance company is solely responsible for thefinancial obligations accruing under the products it product and rider guarantees, including optionalbenefits and any fixed subaccount crediting rates or annuitypayout rates, are backed by the financial strength and claims-paying ability of the issuing insurance company and do notprotect the value of the variable investment options. They arenot backed by the broker/dealer from which this annuity ispurchased, by the insurance agency from which this annuity ispurchased, or any affiliates of those entities, and none makesany representations or guarantees regarding the claims-paying ability of the issuing insurance company.

9 Variableinsurance products are distributed by Pacific SelectDistributors, LLC (member FINRA & SIPC), a subsidiary ofPacific Life Insurance Company (Newport Beach, CA) and anaffiliate of Pacific Life & Annuity Company, and are availablethrough licensed third material must be preceded or accompanied by theproduct prospectus. Contact your financial professionalor visit for more information, includingproduct and underlying fund prospectuses that containmore complete information about Pacific Life and avariable annuity s risks, charges, limitations, andexpenses, as well as the risks, charges, expenses, andinvestment goals of the underlying investment them carefully before page must be accompanied by all disclosure 2020 Morningstar, Inc.

10 , Morningstar Investment Profiles 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary toMorningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. NeitherMorningstar nor its content providers are responsible for any damages or losses arising from any use of information. Past performance is no guarantee offuture performance. Visit our investment website at Page 2 of 5 Pacific Life Insurance Company contracts Morningstar Inc., fora fee, as a third-party advisor to produce this fact sheet. Inthis capacity, Morningstar independently provides analysis onthe underlying investment options for Pacific Life.