1 For financial professional use only. Not for use with the public.Five Reasons to Consider a Pacific Life Variable Annuity Welcome. My name is [NAME], and I’m a [TITLE] for Pacific Life. In my job, one of the most important things I can do is to help you look for inefficiencies in your clients’ portfolios and opportunities in your book of business. So if you have a pen and paper right now, I’d like you to write something down. For JP Morgan Securities in CALIFORNIA 12/16 E A For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

2 [Name of Financial Professional, Company Name] Presented by: [Name of Financial Professional, Company Name] [Name of Pacific Life Representative, Pacific Life] [Financial Professional Name] and JP Morgan Securities, Inc. are not affiliated with Pacific Life or its affiliated companies. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

3 Who does this remind me of?Do your clients want . . . A selection of more than 100 well-known investment options Flexibility in retirement income Protection for their families by providing a legacy First, write, “Who does this remind me of?” Then, write down clients who are planning for retirement and could benefit from: A selection of more than 100 well-known investment options. Flexibility in retirement income. Protection for their families by providing a legacy. Today, I’m going to talk about five reasons to consider a Pacific Life variable annuity. As I speak, keep these clients in mind. More importantly, take time to go through your book of business and find clients who fit these descriptions. Who does this remind me of? For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

4 Reasons Low Cost Legacy Planning Flexible IncomeNo Investment Restrictions Imagine asking your clients the following question: What would you think of an investment that’s low cost, that helps you to efficiently leave a legacy, that’s flexible in terms of how you take income, and, while it offers a broad array of professionally managed investments from managers you know, puts no restrictions on the investment choices you make within that investment? It also offers tax-deferred growth potential, tax-free exchanges between investment options, and, for nonqualified accounts, tax-advantaged income. That’s a Pacific Life variable annuity. Tax Deferral in a Rising Tax Environment For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

5 Reasons Low Cost Legacy Planning Flexible IncomeNo Investment Restrictions Let’s look at what all this means to the clients on your list, starting with low cost. Tax Deferral in a Rising Tax Environment For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

6 What Do Your Clients Pay For?Managed Account Variable Annuity vs. Professional money management Administrative fees Advisory fees Systematic withdrawals Professional money management Administrative fees Mortality and expense fees Annual fee CDSC Issue-age restrictions Tax deferral Tax-free rebalancing Death benefit Annuitization options Systematic withdrawals Let’s see who may be your most common type of client on that list: clients with managed money who want to leave a legacy or are thinking about taking income from their portfolios. Both managed money and variable annuities have fees, and these fees can take a bite out of investment performance. Managed accounts usually charge around 2.25%, which is an industry average for share Class A at net asset value (NAV) including a 1.23%1 net fund expense and 1.02%2 advisory fee. What few clients realize is that with a variable annuity, the total mortality & expense (M&E) and administrative fees can be less than 2.0%. Clients pay for the same benefits of a managed account, but with certain variable annuities, they also receive the benefits of tax deferral, plus tax-free portfolio rebalancing, plus a death benefit, plus a variety of ways to take income all at about the same all-in cost. Pacific Life has that kind of investment. It’s our Pacific Voyages variable annuity. Its M&E and administrative fees are only 1.15%. 1Morningstar Direct. © 2016 Morningstar. All rights reserved. 2AdvisoryHQ. Financial Advisor fees in 2016: Full Details on Advisory & Investment Management Fees. July For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

7 Pacific Voyages with Pacific Dynamix® Portfolios All-in fees 1.74%Allocations as of 6/30/16 Broadly diversified strategy Death benefit Tax deferral Flexible income strategies Pacific Dynamix® Conservative-Growth Pacific Dynamix® Moderate-Growth Pacific Dynamix® Growth 6.8 15.5 11.9 28.4 43.7 10.5 17.5 24.1 26.6 38.9 Yes, there are advisory fees on top of that. But let me show you a strategy that still keeps the total, all-in fees less than 2.0%. It’s the Pacific Dynamix Portfolios for only 59 basis points. These three target-risk funds invest in a wide range of index-oriented investments, keeping costs down. Managers include names your clients know: BlackRock, Dimensional Fund Advisors, and State Street Global Advisors. With any one of these funds, clients have a broadly diversified asset allocation strategy in their variable annuity, for a total all-in fee of just 1.74% (1.15% M&E and administrative fees plus 0.59% portfolio fee). The all-in cost does not include withdrawal charges or the $40 annual fee (waived if net contract value is $50,000 or greater). Asset allocation does not guarantee future results, ensure a profit, or protect against loss. Net expenses reflect a contractual expense cap in place through April 30, There is no guarantee that expenses will continue to be capped after that date. Does not include contract-level and rider charges. A fund-of-funds involves direct expenses for each fund and indirect expenses for the underlying funds. For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

8 Available Investment Options For less than 0.80%As of 12/1/16 American Funds® IS Asset Allocation Fund℠ Pacific Asset Management Core Income BlackRock Equity Index Pacific Asset Management High Yield Bond BlackRock iShares® Dynamic Fixed Income V.I. Fund PIMCO Inflation Managed BlackRock iShares® Equity Appreciation V.I. Fund PIMCO Managed Bond BlackRock iShares® Dynamic Allocation V.I. Fund PLFA Pacific Dynamix® Conservative-Growth BlackRock Small-Cap Index PLFA Pacific Dynamix® Growth DFA Balanced Allocation Portfolios PLFA Pacific Dynamix® Moderate-Growth Franklin Income VIP Fund T. Rowe Price Short Duration Bond Lord Abbett Total Return Portfolio VC Templeton Global Bond VIP Fund MFS® Growth Western Asset Management Diversified Bond Oppenheimer Main Street® Core Western Asset Management Inflation Strategy And those aren’t the only low-cost options in Pacific Voyages. Here are some of the product's investment options that have fees of 0.80% or less. So, again, imagine yourself in front of the clients on your list. Would they be interested in an investment with: professional investment management, well-known managers, and broad investment choice—plus a death benefit, income options, and tax deferral—all at a lower cost? Let’s look at those additional features more closely. Third-party trademarks and service marks are the property of their respective owners. For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

9 Reasons Low Cost Legacy Planning Flexible IncomeNo Investment Restrictions Next is legacy planning with the death benefit. Tax Deferral in a Rising Tax Environment For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

10 Pacific Life Variable Annuity Death BenefitsStandard return of premium for no additional cost Optional Stepped-Up Death Benefit (0.20% per year of each subaccount's assets, deducted daily) A death benefit can be critical for clients focused on their legacies—and Pacific Voyages offers a return-of- premium death benefit, adjusted for any withdrawals, for no additional charge. This is not a feature that can be found with managed money. It’s not even a feature widely available in other variable annuities today. Pacific Voyages also offers an optional stepped-up death benefit that locks in any market gains. The Pacific Life death benefits will be calculated on the Notice Date, which is the day we receive, in proper form, proof of death and instructions regarding payment of death benefit proceeds. The portion of death benefit payouts that exceeds the total amount of purchase payments not previously distributed will be subject to ordinary income tax. For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

11 Nonqualified Stretch Total Distribution: $3,943,155Hypothetical example. For illustrative purposes only. Nonqualified annuity distribution assumptions Death benefit amount: $1,700,000 Growth rate: 6% Beneficiary age: 51 Total Distribution: $3,943,155 A popular family legacy strategy is managing taxes for beneficiaries by stretching income payments over their life expectancies, a method commonly referred to as “nonqualified stretch.” An annuity is the only way to do this for nonqualified money. This option gives beneficiaries the ability to take a minimum required distribution each year and will allow the remainder in the contract to continue to grow tax-deferred. Here we are showing a nonqualified stretch option using a death benefit amount of $1,700,000. With a 6% growth rate and scheduled withdrawals over the beneficiary’s life expectancy, the beneficiary will receive a total of $3,943,155 during 34 years of receiving payments until the account balance reaches $0 in 2050. Final Distribution in 2050 Values illustrated depend on assumptions and information provided and adjustments for product mortality and expense risk charges of .95%, administrative fees .25% advisory fee .59%, and an annual contract fee of $50. Withdrawal charges are not included, which would further reduce amounts received. Your clients results may vary. For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

12 Predetermined Beneficiary PayoutLump Sum Alicia Scheduled Payments Some clients are also concerned with spendthrift beneficiaries. With Pacific Life variable annuities, they can predetermine how beneficiaries receive payments. There may be no need for creating a trust, because the method for controlling payments is right there inside the product. For example, let’s imagine you have married clients with two children. Their oldest daughter, Alicia, is an A student, studying law, and has a history of “applying herself” in whatever she does. Kyle, the younger son, hasn’t shown the same initiative and has never worked a day in his life. With our variable annuity, your clients can predetermine how Alicia and Kyle will receive death benefit payments by selecting among the three options you see here. They also can mix and match options. For example, Alicia might need money to pay off law school loans, so a portion of her payment could be a lump sum. But neither of your clients want Alicia to run out and buy a Ferrari. So another portion might be designated as scheduled payments up to age at which age, Alicia could withdraw money completely as she chooses. Your clients feel that Kyle needs more limits, so perhaps scheduled payments over a specific period of time would be a good choice. Kyle Annuity Payments For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

13 Reasons Low Cost Legacy Planning Flexible IncomeNo Investment Restrictions We’ve just reviewed reasons one and two for clients to consider a Pacific Life variable annuity. Reason three: flexible income. Tax Deferral in a Rising Tax Environment For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

14 Pacific Life’s Income StrategiesAvailable Income Strategies Systematic Withdrawals Optional Living Withdrawal Benefits Guaranteed Lifetime Income (Through full Annuitization) Flexible Income (Through Partial Annuitization) Stays Invested in the Market  May Start or Stop Withdrawals Hedges Longevity Risk Not Subject to Market Volatility Tax-Advantaged Income Both managed money and variable annuities offer systematic withdrawals. But only variable annuities offer the option of guaranteed income—either through annuitization, or by adding living benefit riders at some point for an additional cost. And with our variable annuities, there’s also another option that we call “flexible income,” which is a strategy that uses partial annuitization. With flexible income, clients can opt to annuitize a portion of an annuity contract value. The remaining portion stays invested, benefiting from tax-deferred growth potential. Partial annuitization and withdrawals will reduce the contract value and the value of the death benefits, and also may reduce the value of any optional benefits. Partial annuitization is treated as a withdrawal and will reduce the contract value by the amount that is annuitized. Additionally, for contracts that hold an optional living or death benefit rider, partial annuitization may reduce the benefits guaranteed under the rider depending on each rider’s features and the amount that is annuitized. Under current law, a nonqualified annuity that is owned by an individual is generally entitled to tax deferral. Contracts that are annuitized receive a tax benefit due to the exclusion ratio. Annuitized portions of the contract value may not be subject to market volatility depending on the payout options chosen (fixed, variable, or a combination of both). Amounts not annuitized are still subject to market volatility. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Contracts that are annuitized receive a tax benefit due to the exclusion ratio. Annuitized portions of the contract value may not be subject to market volatility depending on the payout options chosen (fixed, variable, or a combination of both). Amounts not annuitized are still subject to market volatility. For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

15 Flexible Income Example 5.90% net rate of returnExclusion Ratio 27.0%1 $629,433 $700,000 $558,314 600,000 500,000 Contract Value 50% 400,000 300,000 $314,716 Here’s an example. Clients invest $200,000 in Pacific Voyages. At age 70, they convert 50% of their contract value into guaranteed lifetime income payments with a Joint Life Only payout option, giving them more than $17,000 per year to apply toward healthcare, other living expenses, and as a longevity risk hedge. The remainder of their contract value—$314,716—remains invested, giving them continued tax- deferred growth potential. [Click for exclusion ratio to appear.] When nonqualified money is used for partial annuitization, income payments to your clients are taxed on an exclusion ratio basis. This can result in a favorable tax scenario for them. Each payment is considered part earnings and part principal by the IRS until the entire principal is depleted. This compares favorably to systematic withdrawals, where withdrawals are considered 100% earnings until all earnings have been depleted. Flexible income through partial annuitization can also be used as a strategy with qualified money for clients looking to meet their income objectives. Your clients will not have to worry about meeting required minimum distribution (RMD) requirements for the annuitized amount. The payments will satisfy those requirements. However, for the non-annuitized portion of the account, RMD requirements will need to be satisfied through withdrawals. When this concept of partial annuitization is presented to clients using a Pacific Life product, an illustration must be provided. 1Partial annuitization assumes a 27.0% exclusion ratio ($4,732 nontaxable portion of the $17,527 annualized annuity payment; assumes $100,000 cost basis as 50% of the original $200,000 investment was annuitized and 50% was left in the deferred variable annuity). The annuity income payment as a result of partial annuitization is hypothetical. Your client’s payment may be different. $200,000 More than $17,000 per year Age 50 60 70 80 A hypothetical example illustrating the potential benefits of partial annuitization. 1Partial annuitization assumes a 27.0% exclusion ratio ($4,732 nontaxable portion of the $17,527 annualized annuity payment; assumes $100,000 cost basis as 50% of the original $200,000 investment was annuitized and 50% was left in the deferred variable annuity). The annuity income payment as a result of partial annuitization is hypothetical. Your client’s payment may be different. For financial professional use only. Not for use with the public. For institutional use only. Not for use with the public.

16 Pacific Life Tax Deferral Analyzer There are many options available to your clients to receive income in retirement. And if you want to demonstrate this to your clients, we give you a way to do so with the Pacific Life Tax Deferral Analyzer on our website. You can use it anytime to initiate a conversation to educate your clients about retirement income, demonstrate how flexible income works, and customize a presentation to the client’s specific financial circumstances. Please check with your broker/dealer for availability of materials. The methodology used for the Tax Deferral Analyzer is approximate, intended for educational purposes, not meant as a predictive or forecasting tool, and is not a comprehensive financial plan or strategy. For financial professional use only. Not for use with the public. For institutional use only. Not for use with the public.

17 Reasons Low Cost Legacy Planning Flexible IncomeNo Investment Restrictions The fourth reason for a Pacific Life variable annuity: no investment restrictions. “No investment restrictions” means that your clients can choose between a wide variety of investment options that are not restricted by death benefit options or standard income methods. Tax Deferral in a Rising Tax Environment For financial professional use only. Not for use with the public. For institutional use only. Not for use with the public.

18 We Offer a Selection of More Than:As of 12/1/16 100 Investment options 30 Well-known and respected investment managers 40 Investment styles With a Pacific Life variable annuity, clients receive a low-cost option that helps protect their families with a death benefit and also helps meet their income needs by providing flexible income, all with complete investment flexibility. We offer a selection of more than: 100 investment options 30 well-known and respected investment managers 40 investment styles 50 investment options with net fund expenses1 of less than 1% 1Net expense ratios are as of the most recent fund prospectus (adjusted for any fee waivers/reimbursements). For more information, including the gross expense ratio, waivers, and/or expense reimbursements, see the applicable fund prospectus. Expenses are subject to change, and there is no guarantee that the advisor will continue to waive and/or reimburse fund fees beyond their current terms as outlined in each fund prospectus. In addition, please refer to the variable annuity product prospectus for additional product fees and charges. 50 Investment options with net fund expenses1 of less than 1% 1Net expense ratios are as of the most recent fund prospectus (adjusted for any fee waivers/reimbursements). For more information, including the gross expense ratio, waivers, and/or expense reimbursements, see the applicable fund prospectus. Expenses are subject to change, and there is no guarantee that the advisor will continue to waive and/or reimburse fund fees beyond their current terms as outlined in each fund prospectus. In addition, please refer to the variable annuity product prospectus for additional product fees and charges. For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

19 Pacific Life Variable Annuity Investment option managersAs of 12/1/16 You can see here the wide choice of well-known professional managers we offer. Please note that to be eligible for optional living benefits, the contract must be allocated according to the investment allocation requirements that the Company has in effect, which are subject to change. See the prospectus for more details. Optional living benefits are offered for an additional cost. Availability, cost, and features may vary by state. Transfers are limited to 25 per calendar year for no charge. Additional limitations apply to certain individual investment options. Transfers are limited to 25 per calendar year for no charge. Additional limitations apply to certain individual investment options. For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

20 Reasons Low Cost Legacy Planning Flexible IncomeNo Investment Restrictions The fifth reason to consider a Pacific Life variable annuity is the importance of tax deferral in today’s rising tax environment. Tax Deferral in a Rising Tax Environment For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

21 where should their assets be located?Tax Efficiency Given clients’ goals, where should their assets be located? Taxable Tax-Deferred Tax-Exempt/Tax-Free A Pacific Life variable annuity can help meet clients’ financial goals by providing a tax-efficient option. Part of a tax-efficient strategy is putting tax-inefficient funds within a tax-deferred investment. For the purposes of our discussion—because we’re talking about retirement, where assets are not intended for use until years from now—an important question we should ask is: Why expose money to taxes today when you’re not using it until tomorrow? “Why expose money to taxes today when you’re not using it until tomorrow?” For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

22 What Clients Would Need Taxed and tax-deferred return equivalentsIf a client’s 2016 federal tax bracket is: 15% 25% 28% 33% 35% And the client’s assumed taxed-deferred, variable annuity annual return is: Comparable annual rate of return of a currently taxable investment would be: 8.00% 9.41% 10.67% 11.11% 11.94% 12.31% 7.00% 8.24% 9.33% 9.72% 10.45% 10.77% 6.00% 7.06% 8.33% 8.96% 9.23% 5.00% 5.88% 6.67% 6.94% 7.46% 7.69% 4.00% 4.71% 5.33% 5.56% 5.97% 6.15% 3.00% 3.53% 4.17% 4.48% 4.62% 2.00% 2.35% 2.67% 2.78% 2.99% 3.08% 1.00% 1.18% 1.33% 1.39% 1.49% 1.54% Let’s compare taxed and tax-deferred return equivalents. On the left are various assumed rates of return in a tax-deferred account. On the right is what a client would have had to earn in a taxable account, depending on his or her tax bracket, to achieve the same earnings. For example, the highlighted numbers are for a client in the 33% tax bracket. To produce the same dollar amount of accumulation as a tax-deferred account earning 5.00%, the client’s taxable account would have to earn 7.46%. You also might look at this in a reverse way: For a client in a 33% tax bracket, when a taxable account earns 7.46%, the comparable annual return in a tax-deferred variable annuity is only 5.00%. This is what we refer to as “tax drag.” Under current law, a nonqualified annuity that is owned by an individual is generally entitled to tax deferral. IRAs and qualified plans—such as 401(k)s and 403(b)s—are already tax‑deferred. Therefore, a deferred annuity should be used only to fund an IRA or qualified plan to benefit from the annuity’s features other than tax deferral. These include lifetime income and death benefit options. This hypothetical example helps to compare what a client would need to earn in a currently taxable investment to equal the tax-deferred benefits of a variable annuity purchased with after-tax dollars. For example, if a client’s federal tax bracket is 33% and he/she has a 5.00% annual return in a tax-deferred variable annuity, he/she would need to get a 7.46% annual return in a currently taxable investment to match the return of a variable annuity. The hypothetical returns above do not indicate the performance of any individual variable annuity. If variable annuity charges were included (withdrawal charges, mortality and expense risk charges, administrative fees, and other contract charges), the tax-deferred performance would be significantly lower. The federal tax brackets used in this illustration are current as of the date of publication and are subject to change due to congressional legislation. For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

23 Who does this remind me of?Do your clients want . . . A selection of more than 100 well-known investment options Flexibility in retirement income Protection for their families by providing a legacy So, take a look at that list of clients you wrote down earlier who are planning for retirement and could benefit from: A selection of more than 100 well-known investment options. Flexibility in retirement income. Protection for their families by providing a legacy. Who does this remind me of? For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

24 Reasons Low Cost Legacy Planning Flexible IncomeNo Investment Restrictions When you get back to your office, think about these five reasons to consider a Pacific Life variable annuity and what they could mean to help your clients achieve their financial goals, as well as help you find potential opportunities to expand your business. And last, but most importantly, start putting some names and faces to that list, and give them a call. If you need assistance, Pacific Life is here to help. Give me a call. Or talk to me directly after this presentation. Thank you for coming. Tax Deferral in a Rising Tax Environment For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

25 This material is not intended to be used, nor can it be used by any taxpayer, for the purpose of avoiding U.S. federal, state, or local tax penalties. This material is written to support the promotion or marketing of the transaction(s) or matter(s) addressed by this material. Pacific Life, its affiliates, their distributors, and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor or attorney. [Read slide.] For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

26 Pacific Life is a product providerPacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products. Only an advisor who is also a fiduciary is required to advise if the product purchase and any subsequent action taken with regard to the product are in their client’s best interest. Investors should carefully consider a variable annuity’s risks, charges, limitations, and expenses, as well as the risks, charges, expenses, and investment goals of the underlying investment options. This and other information about Pacific Life are provided in the product and underlying fund prospectuses. These prospectuses should be read carefully before investing. [Read slide.] For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

27 Pacific Voyages is only available in CAPacific Voyages is only available in CA. Not all products, features, or riders are available at all broker/dealer firms. Annuity withdrawals and other distributions of taxable amounts, including death benefit payouts, will be subject to ordinary income tax. For nonqualified contracts, an additional 3.8% federal tax may apply on net investment income. If withdrawals and other distributions are taken prior to age 59½, an additional 10% federal tax may apply. A withdrawal charge also may apply. Withdrawals will reduce the contract value and the value of the death benefits, and also may reduce the value of any optional benefits. Variable annuities are long-term investments designed for retirement. The value of the variable investment options will fluctuate so that shares, when redeemed, may be worth more or less than the original cost. Pacific Life and Pacific Select Distributors, LLC, are not affiliated with American Funds Distributors, Inc., BlackRock Distributors, Inc., Franklin Templeton Distributors, Inc., Lord Abbett Distributor LLC, MFS Fund Distributors, Inc., BlackRock Investment Management, LLC, Dimensional Fund Advisors LP and SSgA FM, and SSgA, or the products each distributes (where applicable). American Century Investment Services, Inc., American Funds Distributors, Inc., BlackRock Distributors, Inc., Fidelity Distributors Corporation, First Trust Portfolios, L.P., Franklin Templeton Distributors, Inc., Invesco Distributors, Inc., Ivy Distributors, Inc., Janus Distributors LLC, JPMorgan Distribution Services, Inc., Legg Mason Investor Services, LLC, Lord Abbett Distributor LLC, MFS Fund Distributors, Inc., OppenheimerFunds Distributor, Inc., PIMCO Investments LLC, State Street Global Markets, LLC, Van Eck Securities Corporation, and the products each distributes are not affiliated with Pacific Life or Pacific Select Distributors, LLC. Although some portfolios may have names or investment goals that resemble retail mutual funds managed by the same money manager, these portfolios may not have the same underlying holdings or performance as the retail mutual funds. Investment results may be higher or lower. IRAs and qualified plans—such as 401(k)s and 403(b)s—are already tax-deferred. Therefore, a deferred annuity should be used only to fund an IRA or qualified plan to benefit from the annuity's features other than tax deferral. These include lifetime income, death benefit options, and the ability to transfer among investment options without sales or withdrawal charges. [Read slide.] For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

28 Contract Form Series: 10-1130 Rider Series: 20-13500Third-party trademarks and service marks are the property of their respective owners. Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues. Insurance product and rider guarantees, including optional benefits and any fixed subaccount crediting rates or annuity payout rates, are backed by the financial strength and claims-paying ability of the issuing insurance company and do not protect the value of the variable investment options. They are not backed by the broker/dealer from which this annuity is purchased, by the insurance agency from which this annuity is purchased, or any affiliates of those entities, and none makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company. Variable insurance products, as well as shares of the Pacific Select Fund, are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company (Newport Beach, CA) and an affiliate of Pacific Life & Annuity Company, and are available through licensed third parties. Contract Form Series: Rider Series: [Read slide.] For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.