497 1 d233895d497.htm NML VARIABLE ANNUITY ACCOUNT B NML Variable Annuity Account B
THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
SUPPLEMENT TO THE PROSPECTUSES DATED MAY 1, 2021
NML VARIABLE ANNUITY ACCOUNT A
SUPPLEMENT TO THE PROSPECTUSES
FLEXIBLE PAYMENT VARIABLE ANNUITY
INDIVIDUAL FLEXIBLE PAYMENT VARIABLE ANNUITY (FEE-BASED)
NML VARIABLE ANNUITY ACCOUNT B
SUPPLEMENT TO THE PROSPECTUSES
FLEXIBLE PAYMENT VARIABLE ANNUITY
FLEXIBLE PAYMENT VARIABLE ANNUITY (FEE-BASED)
NML VARIABLE ANNUITY ACCOUNT C
SUPPLEMENT TO THE PROSPECTUSES
GROUP COMBINATION ANNUITY
INDIVIDUAL FLEXIBLE PAYMENT VARIABLE ANNUITY (NETWORK EDITION)
This Supplement updates certain information in the most recent prospectuses, initial summary prospectuses and updating summary prospectuses, as applicable, for the above-referenced variable annuity contracts and any supplements to the prospectuses, initial summary prospectuses and updating summary prospectuses (together the “Prospectuses”). You should read this Supplement in conjunction with your Prospectuses and retain it for future reference. Unless otherwise indicated, all other information included in the Prospectuses remains unchanged. The terms and section headings we use in this Supplement have the same meaning as in the Prospectuses. We will send you another copy of any prospectus or supplements without charge upon request.
On or about November 1, 2021 Dodge & Cox will replace Templeton Investment Counsel, LLC as the sub-adviser for the International Equity Portfolio and any and all references to the sub-adviser shall refer to Dodge & Cox. The Investment Objective for the International Equity Portfolio will now be “Long-term growth of capital and income.” In addition, on or about November 1, 2021, Wells Capital Management, Inc. will be known as Allspring Global Investments, LLC. Any and all references to the sub-adviser for the Select Bond Portfolio shall refer to Allspring Global Investments, LLC. Please note that with respect to both of these changes, some systems and forms may temporarily reference the previous sub-advisers for these Portfolios.
In light of these changes, in APPENDIX A—Portfolios Available under Your Contract, the following rows in the table are amended to contain the following information.  
Investment Objective
Portfolio
Adviser/
Sub-adviser (if applicable)
Current Expenses
Average Annual
Total Returns
(as of 12/31/2020)
1 Year
5 Year
10 year
Long-term growth of
capital and income
International Equity
Portfolio2
MSA/Dodge & Cox
0.54%1
-2.71%
3.12%
3.26%
Provide as high a level of
total return consistent
with prudent investment
risk; a secondary
objective is to seek
preservation of
shareholders’ capital
Select Bond Portfolio2
MSA/Allspring Global
Investments, LLC
0.31%1
8.98%
4.75%
3.95%
This Supplement is dated November 1, 2021.