EQUIVEST Annualized Rates of Return as of 12/31/2013, Annualized Monthly Rates of Return For the Period Ending 12/31/2013 net of annual administrative charge and the maximum applicable withdrawal charge and Standardized Computation of Performance as of 12/31/2013 Please refer to these notes when reviewing the performance information on the accompanying pages. The performance data represents past performance, which is not an estimate, indication or guarantee of future results. Rates of return and principal will fluctuate and units may be worth more or less than your original contribution when redeemed. Current performance may be lower or higher than the performance data quoted. EQUIVEST is a combination variable and fixed annuity deferred contract issued by AXA Equitable Life Insurance Company (New York, NY) and is designed to help people to contribute toward their retirement. Annuities are longterm investment products designed for retirement purposes. The Annualized Monthly Rates of Return performance shown reflects reinvestment of dividends and capital gains and deduction of all annuity contract fees and charges except the withdrawal charges and the annual administrative charge. The Standardized (SEC) quarter end performance is net of all annuity contract fees and charges including the annual administrative charge and the maximum applicable withdrawal charge of 6%. The performance figures do not reflect the cost of optional features, and if they did, performance returns would have been lower. Withdrawals will be subject to ordinary income tax and, if made prior to age 59 ½, may be subject to an additional 10% federal income tax penalty. The is the date that the underlying portfolio was established. The is the date that the variable investment option was first offered to contract owners. The results shown for periods from the inception of a variable investment option are based on actual historical investment experiences of the variable investment option. Results shown from the to the are hypothetical. For these predating instances when the variable investment options had not yet commenced operations (The time period from the to the ), we have shown hypothetical results that would have applied had it been in operation. Except for the "Since ", performance is available back to. The current yield for the EQ/Money Market A portfolio as of 12/31/2013 is 0.00%. This yield quotation more closely reflects the current earnings of the investment portfolio than the total return quotation. It does not reflect any product related expenses or charges. This is a seven day current yield as of the last day of the month to which the performance relates. An investment in the portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the portfolio seeks to preserve the value of your investment, it is possible to lose money by investing in this portfolio. AXA Equitable Life Insurance Company, through its AXA Funds Management Group, LLC, serves as investment manager of the Allocation s. AXA Equitable is solely responsible for the asset allocation decisions made on behalf of each portfolio, and or the selection and allocation of assets to underlying portfolios. Investing in the Allocation s will involve a higher overall cost than if you were to invest directly in the underlying portfolios. It is important to note that asset allocation does not assure a profit or protect against loss in a declining market. s in largecap companies may involve the risk that larger more established companies may be unable to respond quickly to new competitive challenges such as changes in technology and consumer tastes. s in small/mid cap companies may involve greater risks than investments in larger, more established issuers because they generally are more vulnerable than larger companies to adverse business or economic developments. Such companies generally have narrower product lines, more limited financial resources and more limited markets for their stock as compared with larger companies. s in foreign securities, including depository receipts, involve risk not associated with investing in U.S. securities. Foreign markets, particularly emerging markets, may be less liquid, more volatile and subject to less government supervision than domestic markets. Differences between U.S. and foreign legal, political and economic systems, regulatory regimes and market practices also may impact security values and it may take more time to clear and settle trades involving foreign securities. Interest Rate Risk applies to fixed income securities. Fixed income securities will decline in value because of changes in interest rates. a portfolio's debt securities generally declines. When interest rates decline, the value of a portfolio's debt securities generally rises. When interest rates rise, the value of Despite the short maturities and high credit quality of the EQ/Money Market s investments, increases in interest rates and deteriorations in the credit quality of the instruments the has purchased may reduce the s yield and can cause the price of a money market security to decrease. Bonds rated below investment grade (i.e. BB by S&P or Fitch or Ba by Moody's) are speculative in nature and are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on changes in interest rates. "Junk bonds" are usually issued by companies without long track records of sales and earnings, or by those companies with questionable credit strength. Page 1 of 11
Derivatives are subject to a number of risk such as leverage risk, liquidity risk, interest rate risk, market risk, credit risk and also involve the risk of mispricing or improper valuation. The 's investments in derivatives may rise or fall more rapidly than other investments. Certain investments may involve credit risk. Credit risk is the risk that the issuer or the guarantor of a fixed income security, or the counterparty to a derivatives contract, repurchase agreement, loan of portfolio securities or other transaction, is unable or unwilling, or is perceived (whether by market participants, ratings agencies, pricing services or otherwise) as unable or unwilling, to make timely principal and/or interest payments, or otherwise honor its obligations. Investing in value stocks is based upon a portfolio's manager subjective assessment of fundamentals of the companies he believes are undervalued. This style of investing may increase the volatility of the portfolio and may not produce the intended results over short or long time periods. Larger, more established companies may not be able to attain higher growth rates of smaller companies, especially during extended periods of economic expansion. Investing in growth stocks is based upon a portfolio manager's subjective assessment of fundamentals companies he or she believes offer the potential for price appreciation. This style of investing involves risks and investors can lose money. For nondiversified portfolios, more of the portfolios' assets may be focused in a smaller number of issues or one sector of the market, which may make the value of the portfolio's shares more susceptible to certain risks than shares of a diversified portfolio. Investing in stocks of new and unseasoned companies may provide the potential for greater returns, but is generally more volatile and the risks of loss of principal are greater than the portfolios investing in stocks of larger, more established companies. In general, stocks and other equity security values fluctuate, and sometimes widely fluctuate, in response to changes in a company's financial condition as well as general market, economic and political conditions. A copy of the current prospectus and any applicable prospectus supplement(s) for this product, the EQ Advisors Trust, and the AXA Premier VIP Trust must accompany or precede delivery of this material. The prospectus contains complete information about the policy, including investment objectives, risks, charges and expenses. Please read the prospectus carefully before purchasing. This product has limitations. For costs and complete details of coverage, call your licensed insurance agent. What is a Annuity? A variable annuity is a longterm, taxdeferred accumulation product. In its most basic terms, an annuity is a contract between you and an insurance company to accumulate funds and then to provide lifetime payments. A variable annuity allows you to adopt a personal investment strategy to allocate your investment among a range of investment portfolio options. An annuity contract has two phases: An accumulation phase, which allows tax deferred growth potential, and an annuitization phase, when you withdraw your money plus any earnings your annuity has accumulated. There are fees and charges associated with variable annuities, which include, but are not limited to, mortality and expense risk charges, sales and surrender charges, administrative fees, and additional charges for optional benefits. Amounts in the annuity 's variable investment options are subject to fluctuation in value and market risk, including loss of principal. Certain types of contracts, features and benefits may not be available in all jurisdictions. annuities: Are Not a Deposit of Any Bank * Are Not FDIC Insured * Are Not Insured by Any Federal Government Agency * Are Not Guaranteed by Any Bank or Savings Association * May Go Down in Value EQUIVEST is a registered service mark of and is issued by AXA Equitable Life Insurance Company (AXA Equitable). The main administrative office of AXA Equitable is located at 1290 Avenue of the Americas, New York, NY 10104. Codistributed by AXA Advisors, LLC and AXA Distributors, LLC, both located at 1290 Avenue of the Americas, New York, NY 10104, (212) 5541234. AXA Equitable, AXA Advisors, LLC and AXA Distributors, LLC are subsidiaries of AXA Financial, Inc. and do not provide tax or legal advice. Page 2 of 11
EQUIVEST Asset Allocation Annualized Monthly Rates of Return as of 12/31/2013 to Date* 1 3 s 5 s 10 s 20 s Since Since All Asset AggressiveAlt 25 16.52 16.52 6.16 15.04 08/29/2012 All Asset GrowthAlt 20 12.60 12.60 5.81 10.83 3.65 5.53 7.76 09/18/2009 7.93 08/01/1988 All Asset Moderate GrowthAlt 15 9.72 9.72 3.33 9.22 08/29/2012 AXA Aggressive Allocation 24.74 24.74 8.64 12.43 4.44 4.92 10/20/2003 5.45 07/31/2003 AXA Balanced Strategy 12.14 12.14 4.95 7.26 07/20/2009 7.99 04/30/2009 AXA Conservative Allocation 2.94 2.94 2.21 4.13 2.22 2.39 10/20/2003 2.65 07/31/2003 AXA Conservative Growth Strategy 9.03 9.03 3.94 6.07 07/20/2009 6.82 04/30/2009 AXA Conservative Strategy 2.99 2.99 1.80 3.23 07/20/2009 3.94 04/30/2009 AXA ConservativePlus Allocation 8.77 8.77 4.12 6.52 2.80 3.08 10/20/2003 3.40 07/31/2003 AXA Moderate Allocation 12.42 12.42 5.64 8.41 3.95 4.88 6.97 01/27/1986 6.97 01/27/1986 AXA Moderate Growth Strategy 15.31 15.31 6.03 13.31 05/21/2012 9.84 04/30/2009 AXA ModeratePlus Allocation 18.19 18.19 6.83 10.06 4.10 4.59 10/20/2003 5.08 07/31/2003 EQ/AllianceBernstein Dynamic Wealth Strategies 14.61 14.61 12.61 05/21/2012 5.25 02/18/2011 EQ/Franklin Core Balanced 13.05 13.05 6.99 11.61 2.83 2.81 09/15/2006 EQ/Franklin Templeton Allocation 21.64 21.64 9.08 12.37 0.82 05/29/2007 1.09 04/30/2007 Target 2015 Allocation 12.54 12.54 5.68 8.88 2.37 2.42 08/31/2006 Target 2025 Allocation 17.50 17.50 7.44 10.73 2.72 2.78 08/31/2006 Target 2035 Allocation 20.62 20.62 8.51 11.97 2.93 2.99 08/31/2006 Target 2045 Allocation 23.54 23.54 9.46 13.06 2.98 3.05 08/31/2006 Large Cap Value Stocks EQ/BlackRock Basic Value Equity 35.89 35.89 13.35 15.70 5.53 6.68 06/02/1997 7.10 05/01/1997 EQ/Boston Advisors Equity Income 30.00 30.00 14.06 13.26 5.92 5.69 4.10 12/01/1998 EQ/Invesco Comstock 33.22 33.22 14.60 16.73 5.09 5.16 04/29/2005 EQ/JPMorgan Value Opportunities 33.97 33.97 12.77 15.71 4.81 3.74 06/02/1997 4.03 05/01/1997 EQ/Large Cap Value Index 29.82 29.82 13.67 14.32 1.60 10/17/2005 1.93 10/03/2005 EQ/Large Cap Value PLUS 30.69 30.69 11.95 13.21 3.23 2.58 3.60 01/01/1998 Multimanager Large Cap Value 30.37 30.37 11.48 13.40 5.21 4.68 4.52 12/31/2001 Large Cap Blend Stocks AXA Tactical Manager 500 29.18 29.18 11.59 10.45 15.28 05/27/2009 EQ/Common Stock Index 31.11 31.11 14.27 16.79 4.73 6.63 9.65 08/27/1981 8.81 08/01/1968 EQ/Davis New York Venture 31.52 31.52 10.96 14.54 3.63 3.69 08/31/2006 EQ/Equity 500 Index 29.74 29.74 13.98 15.84 5.57 7.56 06/01/1994 7.41 03/01/1994 EQ/Large Cap Core PLUS 29.80 29.80 11.63 14.36 4.84 1.80 1.82 01/01/1999 EQ/Lord Abbett Large Cap Core 28.25 28.25 9.63 12.90 5.47 5.58 04/29/2005 EQ/Mutual Large Cap Equity 27.54 27.54 10.65 13.05 2.70 2.67 09/15/2006 EQ/UBS Growth and Income 33.73 33.73 12.60 15.79 5.23 5.67 3.21 12/01/1998 Fidelity VIP Contrafund 29.21 29.21 12.40 16.97 7.50 11.91 4.73 01/12/2000 MFS Investors Trust Series 29.97 29.97 13.63 14.92 6.32 11.86 2.53 05/01/2000 Multimanager Large Cap Core Equity 32.47 32.47 11.01 14.50 4.50 3.48 3.44 12/31/2001 Large Cap Growth Stocks EQ/Calvert Socially Responsible 32.53 32.53 14.72 16.70 3.95 1.08 09/01/1999 1.08 09/01/1999 EQ/Capital Guardian Research 30.00 30.00 15.61 18.02 5.63 4.23 4.05 05/01/1999 EQ/Equity Growth PLUS 30.77 30.77 10.90 14.36 5.23 5.69 10/22/2001 6.33 08/31/2001 EQ/Large Cap Growth Index 30.72 30.72 14.32 18.99 6.81 0.84 0.87 05/01/1999 EQ/Large Cap Growth PLUS 33.58 33.58 12.52 16.44 6.58 4.48 06/02/1997 4.98 05/01/1997 EQ/Montag & Caldwell Growth 25.57 25.57 12.28 14.11 5.69 6.76 2.93 12/01/1998 EQ/T. Rowe Price Growth Stock 36.07 36.07 15.60 20.08 5.06 6.35 5.54 7.64 08/01/1988 EQ/Wells Fargo Omega Growth 37.22 37.22 14.83 19.39 7.97 3.65 3.60 01/01/1999 MFS Investors Growth Stock Series 28.31 28.31 13.52 17.31 5.89 16.21 09/20/2010 0.10 05/01/2000 Multimanager Aggressive Equity 36.18 36.18 12.80 18.11 5.25 3.33 7.91 01/27/1986 7.91 01/27/1986 Page 3 of 11
EQUIVEST Small/Mid Cap Stocks Annualized Monthly Rates of Return as of 12/31/2013 to Date* 1 3 s 5 s 10 s 20 s Since Since AXA Tactical Manager 2000 35.55 35.55 10.86 10.30 17.60 05/27/2009 AXA Tactical Manager 400 29.92 29.92 10.57 10.48 17.54 05/27/2009 EQ/AllianceBernstein Small Cap Growth 36.31 36.31 15.17 21.99 8.63 6.56 06/02/1997 7.18 05/01/1997 EQ/AXA Franklin Small Cap Value Core 34.85 34.85 11.51 16.55 4.48 4.50 09/15/2006 EQ/GAMCO Small Company Value 37.25 37.25 14.96 22.65 11.43 11.30 11.87 12.18 08/01/1988 EQ/Mid Cap Index 30.80 30.80 13.31 19.40 5.51 3.90 09/01/2000 3.90 09/01/2000 EQ/Mid Cap Value PLUS 31.29 31.29 11.15 17.33 6.19 4.64 06/02/1997 5.02 05/01/1997 EQ/Morgan Stanley Mid Cap Growth 36.68 36.68 10.13 21.99 9.58 9.86 04/29/2005 EQ/Small Company Index 35.60 35.60 13.55 17.73 7.04 6.98 5.74 01/01/1998 Goldman Sachs VIT Mid Cap Value 30.77 30.77 12.01 17.77 11.97 5.94 01/09/2006 Invesco V.I. Mid Cap Core Equity 26.74 26.74 8.46 12.92 6.11 8.22 6.30 09/10/2001 Invesco V.I. Small Cap Equity 35.24 35.24 14.00 17.46 7.59 13.98 8.64 08/29/2003 Ivy Funds VIP Mid Cap Growth 28.20 28.20 12.12 21.47 10.72 05/20/2011 10.52 04/28/2005 Ivy Funds VIP Small Cap Growth 41.44 41.44 8.97 16.95 6.70 10.98 9.45 05/03/1994 Multimanager Mid Cap Growth 38.29 38.29 12.71 20.18 6.98 4.58 4.44 12/31/2001 Multimanager Mid Cap Value 33.77 33.77 9.02 17.86 6.81 6.11 5.84 12/31/2001 Multimanager Small Cap Growth 45.80 45.80 10.05 17.38 5.25 6.01 6.06 12/01/1998 Multimanager Small Cap Value 40.80 40.80 13.34 17.41 5.22 6.79 5.59 01/01/1998 Global/International Stocks AXA Tactical Manager International 19.49 19.49 4.32 5.31 8.38 05/27/2009 EQ/Emerging Markets Equity PLUS 4.68 6.34 02/08/2013 EQ/Global MultiSector Equity 18.75 18.75 5.80 14.06 9.42 4.78 08/20/1997 4.78 08/20/1997 EQ/International Core PLUS 15.94 15.94 2.86 9.43 3.99 1.90 2.37 05/01/1999 EQ/International Equity Index 19.84 19.84 5.98 9.32 3.19 2.25 09/01/1995 2.48 04/03/1995 EQ/International Value PLUS 17.73 17.73 4.02 8.70 4.21 2.52 4.59 05/01/1997 EQ/MFS International Growth 12.13 12.13 5.18 12.36 5.62 6.32 4.04 11/18/1994 EQ/Oppenheimer Global 24.64 24.64 10.05 15.71 4.39 4.53 08/31/2006 EQ/Templeton Global Equity 25.24 25.24 10.03 12.77 2.00 1.98 09/15/2006 Invesco V.I. International Growth 17.12 17.12 6.91 12.57 7.91 8.63 7.37 09/19/2001 Lazard Retirement Emerging Markets Equity 2.57 2.57 1.74 14.00 11.39 0.84 09/20/2010 7.10 11/04/1997 MFS International Value 25.93 25.93 11.75 13.09 9.14 11.71 8.49 08/24/2001 Multimanager International Equity 16.58 16.58 3.00 8.18 3.44 3.45 3.15 12/31/2001 Fixed Income American Funds Insurance Series Bond 3.64 3.64 1.77 4.33 2.34 3.23 3.65 01/02/1996 EQ/Core Bond Index 2.91 2.91 0.72 1.56 0.49 1.11 2.20 01/01/1998 EQ/Global Bond PLUS 3.81 3.81 0.46 1.36 2.46 10/17/2005 2.27 10/03/2005 EQ/High Yield Bond 1.62 5.09 02/08/2013 EQ/Intermediate Government Bond 2.95 2.95 0.22 0.06 1.13 2.61 2.88 06/01/1994 3.34 04/01/1991 EQ/Money Market 1.40 1.40 1.26 1.34 0.22 1.55 3.40 07/13/1981 3.40 07/13/1981 EQ/PIMCO Global Real Return 7.98 7.07 02/08/2013 EQ/PIMCO Ultra Short Bond 1.25 1.25 0.89 0.64 0.92 0.68 1.58 01/24/2002 EQ/Quality Bond PLUS 3.58 3.58 0.75 1.49 0.90 2.86 2.87 01/04/1994 2.78 10/01/1993 Invesco V.I. High Yield 5.33 5.33 6.44 15.17 5.96 5.66 05/20/2011 6.55 03/26/2002 Ivy Funds VIP High Income 9.02 9.02 9.84 16.74 7.42 6.07 10.50 09/20/2010 6.65 07/13/1987 Multimanager Core Bond 3.67 3.67 1.53 3.22 2.72 2.86 3.02 12/31/2001 Multimanager MultiSector Bond 2.34 2.34 1.79 3.82 1.04 2.57 2.56 01/04/1994 4.29 01/02/1987 Page 4 of 11
EQUIVEST Sector/Specialty Annualized Monthly Rates of Return as of 12/31/2013 to Date* 1 3 s 5 s 10 s 20 s Since Since EQ/GAMCO Mergers and Acquisitions 9.50 9.50 4.37 7.19 3.81 4.07 4.48 05/01/2003 Invesco V.I. Global Real Estate 1.07 1.07 5.46 11.91 6.80 7.16 04/30/2004 Ivy Funds VIP Energy 26.04 26.04 4.18 13.52 7.23 4.30 05/01/2006 MFS Technology 32.91 32.91 14.31 25.27 8.33 16.72 09/20/2010 4.14 08/24/2001 MFS Utilities Series 18.60 18.60 11.66 15.42 11.64 13.61 09/20/2010 6.28 05/01/2000 Multimanager Technology 33.78 33.78 12.02 20.61 6.46 4.10 4.25 12/31/2001 Van Eck VIP Global Hard Assets 8.81 8.81 3.12 12.30 3.68 05/20/2011 3.96 05/01/2006 Page 5 of 11
EQUIVEST Annualized Monthly Rates of Return For the Period Ending 12/31/2013 net of annual administrative charge and the maximum applicable withdrawal charge Asset Allocation to Date* 1 3 s 5 s 10 s 20 s Since Since All Asset AggressiveAlt 25 11.06 11.06 0.71 11.11 08/29/2012 All Asset GrowthAlt 20 7.13 7.13 4.10 10.05 3.39 5.50 6.70 09/18/2009 7.91 08/01/1988 All Asset Moderate GrowthAlt 15 4.25 4.25 2.11 5.21 08/29/2012 AXA Aggressive Allocation 19.27 19.27 7.02 11.69 4.20 4.75 10/20/2003 5.29 07/31/2003 AXA Balanced Strategy 6.67 6.67 3.22 6.23 07/20/2009 7.05 04/30/2009 AXA Conservative Allocation 2.52 2.52 0.39 3.13 1.93 2.19 10/20/2003 2.45 07/31/2003 AXA Conservative Growth Strategy 3.56 3.56 2.17 5.01 07/20/2009 5.84 04/30/2009 AXA Conservative Strategy 2.48 2.48 0.04 2.05 07/20/2009 2.85 04/30/2009 AXA ConservativePlus Allocation 3.30 3.30 2.36 5.60 2.53 2.88 10/20/2003 3.22 07/31/2003 AXA Moderate Allocation 6.95 6.95 3.94 7.56 3.70 4.84 6.94 01/27/1986 6.94 01/27/1986 AXA Moderate Growth Strategy 9.84 9.84 4.34 10.12 05/21/2012 8.95 04/30/2009 AXA ModeratePlus Allocation 12.72 12.72 5.16 9.26 3.85 4.41 10/20/2003 4.92 07/31/2003 EQ/AllianceBernstein Dynamic Wealth Strategies 9.14 9.14 9.41 05/21/2012 3.44 02/18/2011 EQ/Franklin Core Balanced 7.58 7.58 5.33 10.86 2.23 2.21 09/15/2006 EQ/Franklin Templeton Allocation 16.18 16.18 7.48 11.63 0.07 05/29/2007 0.36 04/30/2007 Target 2015 Allocation 7.08 7.08 3.98 8.05 1.76 1.82 08/31/2006 Target 2025 Allocation 12.04 12.04 5.80 9.95 2.12 2.18 08/31/2006 Target 2035 Allocation 15.16 15.16 6.89 11.22 2.33 2.40 08/31/2006 Target 2045 Allocation 18.08 18.08 7.87 12.34 2.38 2.46 08/31/2006 Large Cap Value Stocks EQ/BlackRock Basic Value Equity 30.43 30.43 11.87 15.04 5.30 6.65 06/02/1997 7.06 05/01/1997 EQ/Boston Advisors Equity Income 24.53 24.53 12.59 12.54 5.70 5.44 4.04 12/01/1998 EQ/Invesco Comstock 27.76 27.76 13.15 16.10 4.74 4.80 04/29/2005 EQ/JPMorgan Value Opportunities 28.51 28.51 11.27 15.05 4.57 3.69 06/02/1997 3.98 05/01/1997 EQ/Large Cap Value Index 24.35 24.35 12.19 13.62 2.20 10/17/2005 2.55 10/03/2005 EQ/Large Cap Value PLUS 25.22 25.22 10.43 12.49 2.96 2.51 3.55 01/01/1998 Multimanager Large Cap Value 24.90 24.90 9.95 12.68 4.98 4.58 4.41 12/31/2001 Large Cap Blend Stocks AXA Tactical Manager 500 23.72 23.72 10.06 9.24 14.51 05/27/2009 EQ/Common Stock Index 25.66 25.66 12.81 16.16 4.48 6.59 9.63 08/27/1981 8.79 08/01/1968 EQ/Davis New York Venture 26.06 26.06 9.41 13.86 3.06 3.12 08/31/2006 EQ/Equity 500 Index 24.26 24.26 12.51 15.18 5.35 7.53 06/01/1994 7.38 03/01/1994 EQ/Large Cap Core PLUS 24.33 24.33 10.10 13.67 4.60 1.72 1.75 01/01/1999 EQ/Lord Abbett Large Cap Core 22.79 22.79 8.04 12.18 5.14 5.25 04/29/2005 EQ/Mutual Large Cap Equity 22.08 22.08 9.09 12.33 2.09 2.06 09/15/2006 EQ/UBS Growth and Income 28.26 28.26 11.10 15.13 5.00 5.42 3.14 12/01/1998 Fidelity VIP Contrafund 23.74 23.74 10.89 16.34 7.31 10.74 4.66 01/12/2000 MFS Investors Trust Series 24.50 24.50 12.15 14.24 6.11 10.69 2.46 05/01/2000 Multimanager Large Cap Core Equity 27.01 27.01 9.45 13.81 4.25 3.36 3.32 12/31/2001 Large Cap Growth Stocks EQ/Calvert Socially Responsible 27.06 27.06 13.27 16.06 3.69 1.00 09/01/1999 1.00 09/01/1999 EQ/Capital Guardian Research 24.53 24.53 14.18 17.40 5.40 4.17 3.99 05/01/1999 EQ/Equity Growth PLUS 25.31 25.31 9.35 13.67 5.00 5.64 10/22/2001 6.28 08/31/2001 EQ/Large Cap Growth Index 25.25 25.25 12.86 18.40 6.60 0.74 0.78 05/01/1999 EQ/Large Cap Growth PLUS 28.11 28.11 11.02 15.80 6.37 4.43 06/02/1997 4.93 05/01/1997 EQ/Montag & Caldwell Growth 20.10 20.10 10.77 13.41 5.47 6.53 2.86 12/01/1998 EQ/T. Rowe Price Growth Stock 30.61 30.61 14.17 19.51 4.82 6.31 5.28 7.62 08/01/1988 EQ/Wells Fargo Omega Growth 31.75 31.75 13.38 18.80 7.77 3.58 3.52 01/01/1999 MFS Investors Growth Stock Series 22.84 22.84 12.03 16.68 5.67 14.97 09/20/2010 0.01 05/01/2000 Multimanager Aggressive Equity 30.72 30.72 11.30 17.50 5.01 3.27 7.89 01/27/1986 7.89 01/27/1986 Page 6 of 11
EQUIVEST Annualized Monthly Rates of Return For the Period Ending 12/31/2013 net of annual administrative charge and the maximum applicable withdrawal charge Small/Mid Cap Stocks to Date* 1 3 s 5 s 10 s 20 s Since Since AXA Tactical Manager 2000 30.08 30.08 9.30 9.08 16.89 05/27/2009 AXA Tactical Manager 400 24.46 24.46 9.01 9.27 16.83 05/27/2009 EQ/AllianceBernstein Small Cap Growth 30.84 30.84 13.73 21.46 8.44 6.51 06/02/1997 7.14 05/01/1997 EQ/AXA Franklin Small Cap Value Core 29.38 29.38 9.98 15.91 3.93 3.95 09/15/2006 EQ/GAMCO Small Company Value 31.79 31.79 13.52 22.12 11.27 11.27 11.71 12.15 08/01/1988 EQ/Mid Cap Index 25.33 25.33 11.82 18.81 5.28 3.83 09/01/2000 3.83 09/01/2000 EQ/Mid Cap Value PLUS 25.82 25.82 9.60 16.71 5.98 4.58 06/02/1997 4.97 05/01/1997 EQ/Morgan Stanley Mid Cap Growth 31.22 31.22 8.55 21.45 9.32 9.61 04/29/2005 EQ/Small Company Index 30.14 30.14 12.07 17.11 6.84 6.89 5.69 01/01/1998 Goldman Sachs VIT Mid Cap Value 25.31 25.31 10.49 17.15 10.81 5.49 01/09/2006 Invesco V.I. Mid Cap Core Equity 21.27 21.27 6.84 12.19 5.90 6.94 6.25 09/10/2001 Invesco V.I. Small Cap Equity 29.77 29.77 12.53 16.83 7.39 12.87 8.50 08/29/2003 Ivy Funds VIP Mid Cap Growth 22.74 22.74 10.60 20.93 8.88 05/20/2011 10.27 04/28/2005 Ivy Funds VIP Small Cap Growth 35.97 35.97 7.35 16.32 6.50 9.78 9.43 05/03/1994 Multimanager Mid Cap Growth 32.83 32.83 11.20 19.61 6.77 4.46 4.32 12/31/2001 Multimanager Mid Cap Value 28.31 28.31 7.42 17.25 6.61 6.01 5.74 12/31/2001 Multimanager Small Cap Growth 40.33 40.33 8.46 16.75 5.02 5.76 6.02 12/01/1998 Multimanager Small Cap Value 35.33 35.33 11.85 16.78 4.98 6.74 5.54 01/01/1998 Global/International Stocks AXA Tactical Manager International 14.03 14.03 2.56 3.94 7.42 05/27/2009 EQ/Emerging Markets Equity PLUS 10.11 11.79 02/08/2013 EQ/Global MultiSector Equity 13.29 13.29 4.09 13.36 9.26 4.71 08/20/1997 4.71 08/20/1997 EQ/International Core PLUS 10.47 10.47 1.05 8.61 3.74 1.83 2.31 05/01/1999 EQ/International Equity Index 14.38 14.38 4.29 8.50 2.93 2.19 09/01/1995 2.43 04/03/1995 EQ/International Value PLUS 12.26 12.26 2.25 7.86 3.97 2.45 4.55 05/01/1997 EQ/MFS International Growth 6.66 6.66 3.46 11.63 5.40 6.01 3.99 11/18/1994 EQ/Oppenheimer Global 19.17 19.17 8.47 15.05 3.84 3.99 08/31/2006 EQ/Templeton Global Equity 19.77 19.77 8.45 12.04 1.37 1.35 09/15/2006 Invesco V.I. International Growth 11.65 11.65 5.24 11.84 7.73 7.36 7.32 09/19/2001 Lazard Retirement Emerging Markets Equity 8.03 8.03 3.71 13.31 11.25 0.88 09/20/2010 7.05 11/04/1997 MFS International Value 20.47 20.47 10.23 12.37 8.98 10.53 8.44 08/24/2001 Multimanager International Equity 11.10 11.10 1.20 7.33 3.18 3.34 3.04 12/31/2001 Fixed Income American Funds Insurance Series Bond 9.10 9.10 0.06 3.34 2.06 8.67 3.60 01/02/1996 EQ/Core Bond Index 8.38 8.38 1.16 0.45 0.16 0.99 2.14 01/01/1998 EQ/Global Bond PLUS 9.27 9.27 1.42 0.25 2.03 10/17/2005 1.84 10/03/2005 EQ/High Yield Bond 3.82 0.38 02/08/2013 EQ/Intermediate Government Bond 8.42 8.42 1.67 1.11 0.82 2.56 2.83 06/01/1994 3.30 04/01/1991 EQ/Money Market 6.87 6.87 3.21 2.58 0.11 1.50 3.37 07/13/1981 3.37 07/13/1981 EQ/PIMCO Global Real Return 13.43 12.54 02/08/2013 EQ/PIMCO Ultra Short Bond 6.72 6.72 2.82 0.50 0.61 0.21 1.46 01/24/2002 EQ/Quality Bond PLUS 9.05 9.05 2.69 0.38 0.58 2.82 2.83 01/04/1994 2.74 10/01/1993 Invesco V.I. High Yield 0.14 0.14 4.76 14.50 5.74 3.68 05/20/2011 6.46 03/26/2002 Ivy Funds VIP High Income 3.55 3.55 8.26 16.11 7.23 6.03 9.10 09/20/2010 6.62 07/13/1987 Multimanager Core Bond 9.14 9.14 0.32 2.19 2.45 2.74 2.91 12/31/2001 Multimanager MultiSector Bond 7.80 7.80 0.04 2.82 0.73 2.53 2.51 01/04/1994 4.26 01/02/1987 Page 7 of 11
EQUIVEST Annualized Monthly Rates of Return For the Period Ending 12/31/2013 net of annual administrative charge and the maximum applicable withdrawal charge Sector/Specialty to Date* 1 3 s 5 s 10 s 20 s Since Since EQ/GAMCO Mergers and Acquisitions 4.03 4.03 2.62 6.30 3.56 3.70 4.31 05/01/2003 Invesco V.I. Global Real Estate 4.40 4.40 3.75 11.16 5.48 6.96 04/30/2004 Ivy Funds VIP Energy 20.57 20.57 2.42 12.81 5.92 3.79 05/01/2006 MFS Technology 27.44 27.44 12.85 24.79 8.14 15.48 09/20/2010 4.06 08/24/2001 MFS Utilities Series 13.14 13.14 10.13 14.75 11.50 12.31 09/20/2010 6.22 05/01/2000 Multimanager Technology 28.31 28.31 10.50 20.05 6.25 3.97 4.13 12/31/2001 Van Eck VIP Global Hard Assets 3.35 3.35 5.16 11.57 6.00 05/20/2011 3.44 05/01/2006 Page 8 of 11
EQUIVEST Asset Allocation Standardized Computation of Performance as of 12/31/2013 One Five s Ten s Since All Asset AggressiveAlt 25 0.71 All Asset GrowthAlt 20 7.13 6.70 09/18/2009 All Asset Moderate GrowthAlt 15 2.11 AXA Aggressive Allocation 19.27 11.69 4.20 4.75 10/20/2003 AXA Balanced Strategy 6.67 6.23 07/20/2009 AXA Conservative Allocation 2.52 3.13 1.93 2.19 10/20/2003 AXA Conservative Growth Strategy 3.56 5.01 07/20/2009 AXA Conservative Strategy 2.48 2.05 07/20/2009 AXA ConservativePlus Allocation 3.30 5.60 2.53 2.88 10/20/2003 AXA Moderate Allocation 6.95 7.56 3.70 6.94 01/27/1986 AXA Moderate Growth Strategy 9.84 10.12 05/21/2012 AXA ModeratePlus Allocation 12.72 9.26 3.85 4.41 10/20/2003 EQ/AllianceBernstein Dynamic Wealth Strategies 9.14 9.41 05/21/2012 EQ/Franklin Core Balanced 7.58 10.86 2.23 EQ/Franklin Templeton Allocation 16.18 11.63 0.07 05/29/2007 Target 2015 Allocation 7.08 8.05 1.76 Target 2025 Allocation 12.04 9.95 2.12 Target 2035 Allocation 15.16 11.22 2.33 Target 2045 Allocation 18.08 12.34 2.38 Large Cap Value Stocks EQ/BlackRock Basic Value Equity 30.43 15.04 5.30 6.65 06/02/1997 EQ/Boston Advisors Equity Income 24.53 12.54 5.44 EQ/Invesco Comstock 27.76 16.10 4.74 EQ/JPMorgan Value Opportunities 28.51 15.05 4.57 3.69 06/02/1997 EQ/Large Cap Value Index 24.35 13.62 2.20 10/17/2005 EQ/Large Cap Value PLUS 25.22 12.49 2.96 2.51 Multimanager Large Cap Value 24.90 12.68 4.98 4.58 Large Cap Blend Stocks AXA Tactical Manager 500 23.72 9.24 EQ/Common Stock Index 25.66 16.16 4.48 9.63 08/27/1981 EQ/Davis New York Venture 26.06 13.86 3.06 EQ/Equity 500 Index 24.26 15.18 5.35 7.53 06/01/1994 EQ/Large Cap Core PLUS 24.33 13.67 4.60 1.72 EQ/Lord Abbett Large Cap Core 22.79 12.18 5.14 EQ/Mutual Large Cap Equity 22.08 12.33 2.09 EQ/UBS Growth and Income 28.26 15.13 5.42 Fidelity VIP Contrafund 23.74 10.74 MFS Investors Trust Series 24.50 10.69 Multimanager Large Cap Core Equity 27.01 13.81 4.25 3.36 Large Cap Growth Stocks EQ/Calvert Socially Responsible 27.06 16.06 3.69 1.00 09/01/1999 EQ/Capital Guardian Research 24.53 17.40 5.40 4.17 EQ/Equity Growth PLUS 25.31 13.67 5.00 5.64 10/22/2001 EQ/Large Cap Growth Index 25.25 18.40 6.60 0.74 EQ/Large Cap Growth PLUS 28.11 15.80 6.37 4.43 06/02/1997 EQ/Montag & Caldwell Growth 20.10 13.41 6.53 EQ/T. Rowe Price Growth Stock 30.61 19.51 5.28 EQ/Wells Fargo Omega Growth 31.75 18.80 7.77 3.58 MFS Investors Growth Stock Series 22.84 14.97 09/20/2010 Multimanager Aggressive Equity 30.72 17.50 5.01 7.89 01/27/1986 Page 9 of 11
EQUIVEST Small/Mid Cap Stocks Standardized Computation of Performance as of 12/31/2013 One Five s Ten s Since AXA Tactical Manager 2000 30.08 9.08 AXA Tactical Manager 400 24.46 9.27 EQ/AllianceBernstein Small Cap Growth 30.84 21.46 8.44 6.51 06/02/1997 EQ/AXA Franklin Small Cap Value Core 29.38 15.91 3.93 EQ/GAMCO Small Company Value 31.79 22.12 11.71 EQ/Mid Cap Index 25.33 18.81 5.28 3.83 09/01/2000 EQ/Mid Cap Value PLUS 25.82 16.71 5.98 4.58 06/02/1997 EQ/Morgan Stanley Mid Cap Growth 31.22 21.45 9.32 EQ/Small Company Index 30.14 17.11 6.84 6.89 Goldman Sachs VIT Mid Cap Value 25.31 10.81 Invesco V.I. Mid Cap Core Equity 21.27 6.94 Invesco V.I. Small Cap Equity 29.77 12.87 Ivy Funds VIP Mid Cap Growth 22.74 8.88 05/20/2011 Ivy Funds VIP Small Cap Growth 35.97 9.78 Multimanager Mid Cap Growth 32.83 19.61 6.77 4.46 Multimanager Mid Cap Value 28.31 17.25 6.61 6.01 Multimanager Small Cap Growth 40.33 16.75 5.76 Multimanager Small Cap Value 35.33 16.78 4.98 6.74 Global/International Stocks AXA Tactical Manager International 14.03 3.94 EQ/Emerging Markets Equity PLUS 10.11 EQ/Global MultiSector Equity 13.29 13.36 9.26 4.71 08/20/1997 EQ/International Core PLUS 10.47 8.61 3.74 1.83 EQ/International Equity Index 14.38 8.50 2.93 2.19 09/01/1995 EQ/International Value PLUS 12.26 7.86 3.97 2.45 EQ/MFS International Growth 6.66 11.63 6.01 EQ/Oppenheimer Global 19.17 15.05 3.84 EQ/Templeton Global Equity 19.77 12.04 1.37 Invesco V.I. International Growth 11.65 7.36 Lazard Retirement Emerging Markets Equity 8.03 0.88 09/20/2010 MFS International Value 20.47 10.53 Multimanager International Equity 11.10 7.33 3.18 3.34 Fixed Income American Funds Insurance Series Bond 8.67 EQ/Core Bond Index 8.38 0.45 0.16 0.99 EQ/Global Bond PLUS 9.27 0.25 2.03 10/17/2005 EQ/High Yield Bond 3.82 EQ/Intermediate Government Bond 8.42 1.11 0.82 2.83 06/01/1994 EQ/Money Market 6.87 2.58 0.11 3.37 07/13/1981 EQ/PIMCO Global Real Return 13.43 EQ/PIMCO Ultra Short Bond 6.72 0.50 0.21 EQ/Quality Bond PLUS 9.05 0.38 0.58 2.83 01/04/1994 Invesco V.I. High Yield 0.14 3.68 05/20/2011 Ivy Funds VIP High Income 3.55 9.10 09/20/2010 Multimanager Core Bond 9.14 2.19 2.45 2.74 Multimanager MultiSector Bond 7.80 2.82 0.73 2.51 01/04/1994 Page 10 of 11
EQUIVEST Sector/Specialty Standardized Computation of Performance as of 12/31/2013 One Five s Ten s Since EQ/GAMCO Mergers and Acquisitions 4.03 6.30 3.70 Invesco V.I. Global Real Estate 4.40 5.48 Ivy Funds VIP Energy 20.57 5.92 MFS Technology 27.44 15.48 09/20/2010 MFS Utilities Series 13.14 12.31 09/20/2010 Multimanager Technology 28.31 20.05 6.25 3.97 Van Eck VIP Global Hard Assets 3.35 6.00 05/20/2011 The Securities and Exchange Commission (SEC) requires a "Standardized" average annual total return for one, five and ten year periods, also be shown. maximum contingent withdrawal charge, if applicable, upon which the performance rates above are based on. The values shown here reflect all investment option charges and the Page 11 of 11