1. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Volatility Control Indices: The Truth Behind the Hype

2. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Evolution of Product Innovation Long- Term Point-to- Point Annual Reset w/ Averaging Monthly Point-to- Point GLWB Riders w/ Guaranteed Rollup Rates Volatility Control (VC) Alternative Indices

3. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Volatility Defined “tending to fluctuate sharply and regularly” “fleeting; transient” How do your clients react to the word “volatility?”

4. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Volatility Control Defined Decreased Volatility Decreased cost of options Potential for Uncapped Crediting Strategies

5. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Industry Background Volatility Control vs Volatility Control Indices “Volatility Control” is not a new concept Annuities Crediting Methods Indexing Averaging Volatility Control Indices are the innovation Familiar faces (i.e. S&P) New proprietary index providers

6. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 How does it work? VC Indices typically offer a choice of VC levels (i.e 5%, 8%, 10% etc) Index is designed to achieve or stay within specified level In general, Index vs Cash/Non-correlated asset position

7. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 How does it work? IMPORTANT REMINDERS WHAT IT IS – Statistical measure; advanced quantitative approach to measurement WHAT IT IS NOT – Actively managed Regulatory Attention UNCAPPED Does Not Mean Unlimited VC Indices are themselves smoothing out peaks of common indices (i.e. S&P 500 vs VC version of S&P 500) Crediting method levers – Index margins and/or Participation rates Similar to other indices, allocation of premium to this index is NOT a direct investment in the market or index

8. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Competitive Landscape 1.Does the illustrated rate seem “too good to be true?” 2. How does live index performance compare to backcasted/simulated? 3. Does the index provider have a proven track record?

9. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 The Midland National Difference Innovation with Integrity Our Story Our Solutions

10. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Innovation with Integrity NEW Index - S&P 500 Low Volatility Daily Risk Control 5% Coming September 30 th ! Available on MNL RetireVantage and MNL IncomeVantage fixed index annuities KEY BENEFITS Uncapped Design - Annual Point to Point with Index Margin* Index from proven S&P family Transparency for you and your clients via public website Stable returns STAY TUNED in coming weeks for state approvals and rates! ***Agent Certification Training Required*** New index certification course available at midlandnational.com ***Agent Certification Training Required*** New index certification course available at midlandnational.com *See disclosure page for specific index disclosure

11. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Over 100 Years in the Industry (Founded as Dakota Mutual Life Insurance Company in 1906) $37.4B in Assets Rated A+ (Superior, 2 nd highest of 15 categories) by A.M. Best Since 1979 Rated A+ (Strong, 5 th highest of 22 categories) by Standard & Poor’s We Think Like Owners Long-Term Focus As of December 31, 2013, Midland National has over $37.4 billion in assets. The life insurance companies of Sammons Financial Group have approximately $31 billion of annuity reserves for 536,000 contract owners. (2013 Past, Present, Future brochure) Strength – Longevity, Strength and Ownership Midland National Story

12. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Midland National ® Rises Above the Rest

13. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Midland National ® Rises Above the Rest

14. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Equipping You for Success “MVP” Education Bundles –Tools to Help Start Client Conversations and Grow Your Business –3 Part Series The “WOW” Client Experience Pension Rollover Social Security Conversations Contact Sales Support to see if you’re eligible for these great educational tools!

15. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Thank you! Sales Support 877-586-0241

16. FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 20643YY| PRT 09-14 Product Disclosures Fixed Index Annuities are not a direct investment in the stock market. They are long term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss of premium due to market downturns or fluctuation. Although Fixed Index Annuities guarantee no loss of premium due to market downturns, deductions from your Accumulation Value for additional optional benefit riders could under certain scenarios exceed interest credited to your Accumulation Value, which would result in loss of premium. They may not be appropriate for all clients. Products that have bonuses may offer lower credited interest rates, lower Index Cap Rates, lower Participation Rates and/or greater Index Margins than products that don’t offer a bonus. Over time and under certain scenarios the amount of the bonus may be offset by the lower interest rates, lower Index Cap Rates, lower Participation Rates and/or greater Index Margins. These riders and products are issued by Midland National Life Insurance Company, West Des Moines, IA. Product features and riders may not be available in all states, may not be available on all products, or appropriate for all clients The MNL RetireVantage ® is issued on form AC/AS124A (certificate/contract), AR153A, AR156A, AR159A, AR163A, AR163A-1, AR192A, AR194A, AR201A, AR227A, AR244A, AR245A, AR246A, AR247A, and AR248A (riders/endorsements) or state variation by Midland National® Life Insurance Company, West Des Moines, IA. This product, its features and riders may not be available in all states. Retire X-Cel GMWB Rider is an optional guaranteed lifetime withdrawal benefit (GLWB) available for an additional cost at the time of application on most fixed index annuities and is issued on form AR202A (rider) and PS202B (spec page) or appropriate state variation. The Income Multiplier (x2) is issued on form AR273A (rider) and PS273B (spec page) or appropriate state variation and is an electable rider issued in coordination with the Retire X-Cel, for an additional cost. The Income Multiplier (x2) is not Long Term Care Insurance and cannot be used in conjunction with any Nursing Home Confinement Rider. Forms are issued by Midland National Life Insurance Company, West Des Moines, IA and may not be available in all states or appropriate for all clients. Please see Rider brochure for further details and limitations. The MNL Guarantee Ultimate® is issued on AC/AS130A (certificate/contract), AR157A-1, AR159A, AR194A, AR208A and AR209A (endorsements/riders) or appropriate state variations by Midland National® Life Insurance Company, West Des Moines, IA. The “S&P 500®”, “S&P 500® Low Volatility Daily Risk Control 5% Index”, “S&P MidCap 400®”, and “DJIA®”, Indices (“Indices”) are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and have been licensed for use by Midland National (“the Company”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by the Company. MNL RetireVantage® and MNL IncomeVantageSM are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Indices.