LINCOLN NATIONAL CORP

Item 1. Legal Proceedings

Reference is made to the lawsuits captioned Glover v. Connecticut General Life Insurance Company and The Lincoln National Life Insurance Company, Iwanski v. First Penn-Pacific Life Insurance Company, TVPX ARS INC., as Securities Intermediary for Consolidated Wealth Management, LTD. v. The Lincoln National Life Insurance Companyand Vida Longevity Fund, LP v. Lincoln Life & Annuity Company of New York, each of which was previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024 (“2024 Form 10-K”). On June 16, 2025, the court granted final approval of the Glover provisional settlement (which encompasses all policies at issue in Gloveras well as in Iwanski, TVPX ARS INC. and Vida) and on June 18, 2025, entered final judgment and dismissed the case. On July 16, 2025, plaintiffs in the Iwanski, TVPX ARS INC. and Vida cases appealed the final approval of the provisional settlement to the U.S. Court of Appeals for the Second Circuit. The provisional settlement is subject to the outcome of the appeal.

Reference is made to the lawsuit captioned Conestoga Trust, et al, v. Lincoln National Corp., et al., previously disclosed in our 2024 Form 10-K and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. On April 2, 2025, we entered into an agreement with the plaintiffs in Conestoga Trust in full and final settlement of this matter, and the Conestoga Trust matter is now concluded.

Reference is made to the lawsuit captioned Donald C. Meade v. Lincoln National Corporation, Ellen Cooper, Dennis Glass, and Randal Freitag(“Defendants”), previously disclosed in our 2024 Form 10-K. On July 24, 2025, the court granted Defendants’ motion to dismiss and dismissed the amended complaint without prejudice. Plaintiff has 14 days from the date of the court’s order to file a second amended complaint.

Reference is made to the tax assessment proceeding captioned Lincoln National Life Insurance Company v. Township of Radnor, previously disclosed in our 2024 Form 10-K. On July 16, 2025, the court entered judgment in favor of LNL.

See Note 14 in “Part I – Item 1. Financial Statements” for further discussion regarding these matters and other contingencies.