Performance Update As of August 31, 2021

MassMutual ElectrumSM variable life insurance

l Not a bank or credit union deposit or obligation l Not insured by any federal government agency l Not FDIC or NCUA-insured l Not guaranteed by any bank or credit union l May go down in value

8/31/2021 Page 1 of 6, MassMutual Electrum CRN229565 Monthly Investment Performance Update for the Period Ending: August 31, 2021 MassMutual ElectrumSM MassMutual Electrum is a flexible premium variable adjustable life insurance policy. This report gives information only about the performance of the investment options available through the policy. It does not give, and should not be understood to give, information about the overall performance of any policy. Before purchasing a MassMutual Electrum policy, you should request a personalized illustration from your financial representative to see examples of how policy charges can impact the performance of your policy. The illustration will reflect the deduction of premium charges and the monthly administrative, face amount, mortality and expense risk charges, and insurance charges, as well as any applicable rider charges specific to the policy. Additionally, if you currently own a policy, you can obtain current illustrations of policy values by contacting your personal financial representative, or by clicking on “contact us” on our web site, or by calling us at (800) 548-0073, Monday – Friday, 8 a.m. to 5 p.m. Eastern Time. The investment performance figures in this report are based on actual historical performance of the investment options for the periods shown, including for those time periods that begin prior to this policy's availability date. In most states, the policy first became available on June 26, 2017. For periods less than one year, the total return is not annualized. For periods one year and greater and is annualized, the average annual total return for the time periods is shown.

Past performance is no indication of future results. This update contains the most recent month-end performance. Since performance changes daily, the current performance may be lower or higher than the performance reflected in this update. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For the most recent month- end performance information, visit our website at www.massmutual.com or call the MassMutual Customer Service Center at (800) 548-0073, Monday – Friday, 8 a.m. to 5 p.m. Eastern Time. Investing involves risk, including the loss of principal. Each investment choice underlying the policy has broad risks that apply to all investment choices, such as market risk, as well as specific risks inherent in particular types of investment choices that may subject your policy to greater risk and volatility than the general market. This material must be preceded or accompanied by the current prospectus for the MassMutual Electrum insurance policy and the prospectus (or summary prospectuses, if available) for its underlying investment choices. Before purchasing a policy, investors should carefully consider the investment objectives, risks, charges and expenses of the policy and its underlying investment choices. Please read the prospectuses carefully before investing or sending money.

Interest Rates — Guaranteed Principal Account The following are effective annual rates used to credit interest on amounts in the Guaranteed Principal Account. These rates do not apply to any policy loan amounts. Effective annual rates used to credit interest on amounts in the Guaranteed Principal Account. These rates do not apply to any policy loan amounts. Current Interest Rate as of: 10/1/20 2.70%; 11/1/20 2.70%; 12/1/20 2.70%; 1/1/21 2.70%; 2/1/21 2.70%; 3/1/21 2.70%; 4/1/21 2.70%; 5/1/21 2.70%; 6/1/21 2.55%; 7/1/21 2.50%; 8/1/21 2.50%; 9/1/21 2.50%.

Market Indices as of August 31, 2021 YTD 1 Year 3 Years 5 Years 10 Years S&P 500 Index 21.58% 31.17% 18.07% 18.02% 16.34% Capital International World Index 17.94% 29.76% 14.96% 14.83% 12.14% Russell 2000 Total Return Index 15.83% 47.08% 10.75% 14.38% 13.62% Bloomberg U.S. Aggregate Bond Index -0.69% -0.08% 5.43% 3.11% 3.18%

Market indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses. Individuals cannot invest directly in an index.

The Standard & Poor's 500 Index is an unmanaged measure of common total return performance in the U.S. The Morgan Stanley Capital International World Index is an unmanaged measure of total return performance in the global securities market. The Russell 2000 Total Return Index is a broad based, unmanaged index comprised of 2000 of the smallest U.S. domiciled company common (on the basis of capitalization) that are traded in the United States on the , the American Stock Exchange, and . The Bloomberg U.S. Aggregate Bond Index is an unmanaged index of U.S. corporate bond issues, U.S. Government Securities and mortgage-backed securities.

8/31/2021 Page 2 of 6, MassMutual Electrum Total Return Rates — Investment Funds For the Period Ending: August 31, 2021 Total Returns for each fund are the actual historical rates and are net of all fund management fees and other operating expenses. Those returns do not reflect policy charges. Policy charges include: premium charges and the monthly administrative, mortality and expense risk, face amount, and insurance charges and any applicable rider changes. If these charges were deducted, the returns would be significantly lower. Fund Cumulative Average Annual Asset Inception Since Category Date Endnotes YTD 1 Year 3 Years 5 Years 10 Years + Inception Fidelity® VIP Freedom 2020 (Service Class) 4/26/2005 8.73% 17.18% 11.34% 10.47% 9.03% — Fidelity® VIP Freedom 2025 (Service Class) 4/26/2005 9.82% 19.28% 12.17% 11.31% 9.98% — Fidelity® VIP Freedom 2030 (Service Class) 4/26/2005 11.24% 21.99% 13.03% 12.65% 10.78% — Fidelity® VIP Freedom 2035 (Service Class) 4/8/2009 13.92% 26.94% 14.41% 14.16% 11.86% — Fidelity® VIP Freedom 2040 (Service Class) 4/8/2009 15.91% 30.44% 15.42% 14.84% 12.24% — Fidelity® VIP Freedom 2045 Portfiolio (Service 4/8/2009 11.65% 42.90% 15.35% 14.72% 10.80% Class) Fidelity® VIP Freedom 2050 (Service Class) 4/8/2009 15.91% 30.37% 15.39% 14.81% 12.38% — Fidelity® VIP Freedom 2055 Portfiolio (Service 4/11/2019 15.94% 30.43% _ _ _ 19.92% Class) Fidelity® VIP Freedom 2060 Portfiolio (Service 4/11/2019

Asset 15.82% 30.40% _ _ _ 19.92%

Allocation Class) Fidelity® VIP Freedom Income Portfolio (Service 4/26/2005 3.27% 7.23% 4.75% 6.10% 5.08% 4.85% Class) MML Aggressive Allocation (Initial Class) 8/31/2007 1 14.65% 29.04% 12.42% 12.50% 11.53% — MML American Funds Core Allocation (Service 8/15/2008 1 10.55% 18.65% 10.37% 9.97% 9.51% — Class I) MML Balanced Allocation (Initial Class) 8/31/2007 1 9.27% 17.71% 9.73% 8.66% 8.11% — MML Conservative Allocation (Initial Class) 8/31/2007 1 8.10% 15.47% 9.06% 7.69% 7.23% — MML Growth Allocation (Initial Class) 8/31/2007 1 12.75% 24.86% 11.55% 11.13% 10.30% — MML Moderate Allocation (Initial Class) 8/31/2007 1 10.73% 20.88% 10.17% 9.46% 8.89% — MML U.S. Government Money Market (Initial Class) 12/16/1981 2 0.00% 0.00% 0.83% 0.72% 0.37% — Money Market 7-day yield: 0.00% American Century VP Inflation Protection (Class II) 11/20/1987 4.45% 6.29% 6.82% 4.29% 2.89% — Blackrock High Yield V.I. (Class I) 4/20/1982 4.58% 9.96% 7.24% 6.75% 7.01% — Blackrock Total Return V.I. (Class I) 4/20/1982 -0.56% 0.88% 6.00% 3.56% 3.86% — Eaton Vance VT Floating-Rate Income (ADV 5/2/2001 2.90% 6.42% 3.13% 3.87% 4.02% — Class)Fidelity® VIP Bond Index Portfolio (Service Class 4/19/2018 -1.06% -0.58% 5.01% _ _ II)Franklin Strategic Income VIP (Class 2) 5/15/2001 2.71% 6.51% 4.07% 3.39% 3.75% 4.70% Goldman Sachs Core (Service) 1/9/2006 -1.01% -0.08% 5.86% 3.25% 3.42% — Invesco V.I. Global Strategic Income (Series I) 5/3/1993 * -2.89% 2.68% 3.18% 2.44% 3.01% — MFS Government Securities (Initial Class) 6/12/1985 -0.93% -1.09% 4.37% 2.26% 2.23% — MML Dynamic Bond (Class II) 5/15/2015 0.88% 2.55% 4.49% 3.08% — 3.55% MML High Yield (Class II) 5/3/2010 6.39% 13.47% 6.14% 6.50% 7.52% — MML Inflation-Protected and Income (Initial Class) 8/30/2002 4.87% 7.03% 7.46% 4.76% 3.26% — Fixed Income MML Managed Bond (Service Class) 12/16/1981 1.64% 4.44% 6.37% 4.04% 3.72% — MML Short-Duration Bond (Class II) 5/3/2010 2.22% 4.56% 2.85% 2.48% 2.20% — MML Total Return Bond (Class II) 8/9/2010 -0.34% 0.91% 5.94% 3.43% 3.42% — PIMCO Emerging Markets Bond (Advisor Class) 4/30/2012 0.72% 5.64% 7.38% 4.63% 4.66% — PIMCO Global Bond Opportunities (Unhedged) 1/31/2006 -1.90% 2.50% 4.16% 2.44% 1.57% — (AdministrativePIMCO High Yield Class) (Administrative Class) 7/1/2002 3.17% 7.78% 6.43% 5.70% 6.33% — PIMCO Long-Term U.S. Government 4/10/2000 -4.42% -6.62% 8.75% 3.28% 5.35% — (AdministrativePIMCO Real Return Class) (Administrative Class) 4/10/2000 4.17% 5.92% 7.36% 4.76% 3.15% — PIMCO Total Return (Administrative Class) 4/10/2000 -0.37% 0.79% 5.67% 3.66% 3.54% — Templeton Global Bond VIP (Class I) 1/24/1989 -2.62% -1.74% -0.81% 0.73% 0.96% — T. Rowe Price Limited-Term Bond 5/13/1994 0.74% 1.95% 3.52% 2.32% 1.70% — 8/31/2021 Page 3 of 6, MassMutual Electrum Total Return Rates — Investment Funds cont. For the Period Ending: August 31, 2021

Fund Cumulative Average Annual Asset Inception Since Category Investment Fund Date Endnotes YTD 1 Year 3 Years 5 Years 10 Years + Inception

MML Blend (Initial Class) 2/3/1984 12.16% 17.92% 11.48% 11.78% 11.17% — Balanced

Blackrock Basic Value V.I. (Class I) 7/1/1993 18.94% 38.79% 9.48% 10.23% 11.64% — Invesco V.I. Comstock (Series I) 4/30/1999 26.29% 47.77% 9.45% 12.34% 12.54% — MFS® Value (Initial Class) 1/2/2002 20.48% 33.21% 12.79% 12.05% 13.35% — MML Equity (Initial Class) 5/13/1994 3 25.47% 42.04% 12.03% 12.55% 12.47% — Value

Large Cap Large MML Equity Income (Initial Class) 5/1/2006 20.41% 40.02% 10.44% 11.85% 11.84% — MML Fundamental Value (Class II) 8/10/2010 23.06% 41.37% 10.29% 10.67% 11.73% — MML Income & Growth (Initial Class) 5/1/2006 4 21.39% 43.49% 10.40% 11.68% 11.56% — Fidelity® VIP Contrafund® (Service Class) 1/3/1995 4 22.69% 26.44% 21.10% 19.67% 16.13% — Fidelity® VIP Index 500 Portfolio (Service Class) 7/7/2000 21.42% 30.90% 17.82% 17.77% 16.11% — Fidelity® VIP Total Market Index Portfolio (Service 4/17/2018 20.16% 32.36% 17.27% — — 18.04% Class II) Invesco V.I. Main Street (Series I) 7/5/1995 * * 21.20% 28.78% 16.42% 15.35% 14.98% — Invesco V.I. Diversified (Series I) 3/1/1990 5 14.85% 27.21% 9.25% 8.56% 12.00% — JPMorgan Insurance Trust U.S. Equity (Class I) 3/30/1998 Blend 21.30% 32.00% 19.78% 19.28% 17.06% — Large Cap Large MFS Blended Research® Core Equity (Initial 11/14/1986 23.74% 32.19% 16.30% 16.10% 15.24% — Class)MML Equity Index (Service Class I) 5/1/1997 + + 21.08% 30.53% 17.33% 17.25% 15.57% — MML Focused Equity (Class II) 12/8/2011 15.04% 25.04% 16.10% 17.85% — 15.78% MML Fundamental Equity (Class II) 12/8/2011 21.16% 28.84% 18.61% 20.31% — 16.82% MML Growth & Income (Initial Class) 5/1/2006 23.16% 33.42% 17.89% 17.43% 15.55% — Fidelity® VIP Growth (Service Class) 10/9/1986 20.73% 30.70% 25.22% 25.35% 19.37% — Invesco V.I. American Franchise (Series I) 7/3/1995 14.76% 24.22% 22.39% 22.43% 17.22% — MFS® Growth (Initial Class) 7/24/1995 21.37% 25.78% 23.78% 24.02% 19.24% —

Cap

Large MML American Funds Growth (Service Class I) 2/8/1984

Growth 17.39% 33.66% 25.79% 24.85% 18.49% — MML Blue Chip Growth (Initial Class) 5/1/2006 19.46% 23.00% 21.48% 23.96% 19.53% — MML Large Cap Growth (Initial Class) 8/31/1999 19.04% 23.73% 22.14% 21.60% 16.94% — Delaware VIP® Smal Cap Value (Service Class) 5/1/2000 24.42% 55.15% 7.05% 10.48% 11.65% — Franklin Small Cap Value VIP (Class 2) 5/1/1998 21.93% 47.71% 9.87% 11.48% 12.50% — Goldman Sachs Mid Cap Value (Institutional) 5/1/1998 21.47% 44.32% 14.18% 12.71% 12.28% — MFS® Mid Cap Value (Initial Class) 3/7/2008 22.36% 42.23% 12.01% 11.92% 13.12% — Value Small/ Mid Mid Cap MML Mid Cap Value (Initial Class) 5/1/2006 18.12% 34.36% 9.13% 10.20% 12.97% — MML Small Company Value (Class II) 2/27/2009 18.81% 47.07% 8.74% 12.39% 12.25% — MML Small/Mid Cap Value (Initial Class) 5/1/2006 29.02% 61.12% 9.27% 11.71% 13.12% — Blackrock Small Cap Index V.I. Fund (Class III) 1/29/1998 15.62% 46.80% 10.57% 14.20% 13.28% — BNY Mellon MidCap Stock (Service Shares) 3/7/2008 21.74% 45.67% 8.85% 10.21% 12.18% — Fidelity VIP Extended Market Index Portfolio 4/17/2018 19.97% 47.59% 12.55% — — 13.51% (ServiceGoldman Class Sachs II) Small Cap Equity Insights 12/31/2000 21.69% 47.70% 8.91% 13.46% 13.09% — (Institutional) Invesco V.I. Small Cap Equity (Series I) 2/13/1998 19.01% 49.91% 14.12% 14.39% 12.67% —

Blend JPMorgan Insurance Trust Small Cap Core (Class Small/ Mid Mid Cap 8/29/2003 19.03% 53.06% 9.08% 13.86% 14.03% — 1) Lord Abbett Mid Cap Stock (Class VC) 1/31/1995 21.51% 43.10% 7.79% 8.03% 10.06% — MML Small Cap Equity (Initial Class) 6/1/1998 19.04% 47.32% 12.06% 15.32% 14.94% — Voya Russell™ Mid Cap Index (Class S) 9/15/1999 + + + 19.57% 40.38% 14.84% 14.66% 14.12% — Voya Russell™ Small Cap Index (Class S) 3/10/2008 + + + + 15.35% 46.23% 10.12% 13.76% 13.10% —

8/31/2021 Page 4 of 6, MassMutual Electrum Total Return Rates — Investment Funds cont. For the Period Ending: August 31, 2021

Fund Cumulative Average Annual Asset Inception Since Category Investment Fund Date Endnotes YTD 1 Year 3 Years 5 Years 10 Years + Inception American Century VP Capital Appreciation (Class 3/10/2008 13.71% 38.07% 22.86% 19.98% 15.54% — I)Goldman Sachs Growth Opportunities (Service) 5/7/2004 12.89% 34.13% 23.36% 20.57% 16.51% — Invesco V.I. Discovery Mid Cap Growth (Series I) 8/15/1986 * * * 18.69% 39.17% 23.61% 22.18% 17.63% — Lord Abbett Developing Growth (Class VC) 4/30/2010 + + + + + Small/

Growth 5.39% 38.09% 22.04% 26.13% 18.26% — Mid Mid Cap MML Mid Cap Growth (Initial Class) 5/1/2006 14.10% 31.71% 17.80% 18.18% 16.65% — MML Small Cap Growth Equity (Initial Class) 5/3/1999 8.26% 40.04% 15.76% 19.48% 16.12% — American Century VP International (Class I) 5/1/1994 11.68% 26.48% 14.44% 14.29% 9.41% — Delaware VIP Emerging Markets (Service Class) 5/1/2000 -2.34% 14.91% 11.93% 11.30% 5.68% — Fidelity® VIP International Index Portfolio (Service 4/17/2018 9.26% 24.90% 9.18% — — 6.79% Class II) Fidelity VIP Overseas (Initial Class) 5/1/2000 18.34% 30.51% 14.45% 13.43% 9.43% — Franklin Mutual Global Discovery VIP (Class 2) 1/28/1987 16.79% 35.12% 6.81% 7.48% 8.41% — Goldman Sachs International Equity Insights (Institutional) 4/30/1998 13.92% 28.09% 7.29% 8.36% 6.78% — Invesco V.I. Global (Series I) 11/12/1990 * * * 18.19% 35.42% 17.92% 18.99% 14.07% — Invesco Oppenheimer V.I. International Growth 5/13/1992 13.75% 31.24% 13.93% 11.53% 9.29% —

Global (SeriesInvesco I) V.I. International Growth (Series I) 11/8/1996 6.28% 19.71% 11.70% 9.53% 7.64% — International/ MFS International Instrinsic Value (Initial Class) 5/5/1993 8.82% 19.45% 13.49% 12.78% 11.94% — MML American Funds International (Service Class I) 5/1/1990 4.43% 23.49% 8.53% 9.98% 7.58% — MML Foreign (Initial Class) 5/1/2006 12.43% 29.79% 5.66% 6.92% 5.47% — MML Global (Service Class I) 1/0/1900 15.80% 30.50% 14.74% 13.70% 12.50% — MML International Equity Service Class II) 1/7/2014 10.58% 37.95% 6.78% 8.91% — 4.15% MML Strategic Emerging Markets (Class II) 8/27/2008 6 -0.44% 15.95% 10.10% 10.81% 3.35% — Voya International Index (Class S) 3/10/2008 + + + + + + 11.17% 25.80% 8.53% 9.13% 6.82% — Fidelity VIP Real Estate (Service Class) 11/6/2002 29.11% 33.97% 10.01% 6.62% 9.92% — Invesco V.I. Global Real Estate (Series I) 1/2/1997 20.22% 25.86% 6.29% 5.06% 6.96% — Delaware Ivy VIP Asset Strategy 4/20/1995 * * * * 9.61% 19.45% 11.20% 10.81% 6.93% — Delaware Ivy VIP Science and Technology 4/4/1997 * * * * * 15.45% 30.11% 23.43% 24.71% 18.90% — MFS Global Real Estate (Initial Class) 12/7/1998 23.08% 33.70% 13.82% 10.61% 10.88% — MFS Utilities (Initial Class) 1/3/1995 9.59% 23.08% 11.87% 10.73% 9.66% — Specialty MML Managed Volatility (Initial Class) 5/1/2000 7 9.51% 14.58% 6.71% 6.73% 7.45% — PIMCO All Asset (Administrative Class) 1/31/2006 14.69% 26.62% 10.42% 8.45% 5.75% — PIMCO CommodityRealReturn® Strategy (Advisor 6/30/2004 28.08% 38.83% 8.94% 6.13% -3.80% — Class)

8/31/2021 Page 5 of 6, MassMutual Electrum Endnotes

1 Funds offered in a fund-of-funds structure may have higher expenses than a direct investment in the underlying funds because a fund-of-funds bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests. 2 An investment in the Fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or by any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. The yield quotation more closely reflects the current earnings of the Fund than the total return quotation. Other than YTD, it is an annualized rate based on results over the last seven days. 3 Although the MML Equity Fund commenced operations on 9/15/1971, the information necessary to calculate returns is available only for 1974 and later years. 4 The fund established a new class of shares, which is available with this policy, after it began its initial investment operations. The performance for the period prior to offering the new class shows the historical returns for the original class of shares, which were not subject to a 12b-1 fee. The performance shown from the inception date of the class available with this policy includes the fees and expenses of that share class, including a 12b-1 fee. A 12b-1 fee reduces a fund’s performance. 5 Effective April 29, 2011, Invesco V.I. Fund merged into Invesco V.I. Dividend Growth Fund. Performance prior to that day reflects performance of the Invesco V.I. Financial Services Fund and performance on and after that date reflects performance of the Invesco V.I. Dividend Growth Fund. 6 The fund established a new class of shares, which is available with this policy, after it began its initial investment operations. The performance for the period prior to May 1, 2009 shows the historical returns for Service Class I shares. Performance for periods after May 1, 2009 shows the historical returns for the share class available with this policy and reflects the fees and expenses of that share class. 7 Formerly known as MML Large Cap Value Fund. The Fund’s name, investment objective, and investment strategy changed on April 29, 2013. The performance results prior to April 29, 2013 would not necessarily have been achieved had the Fund’s current strategy been in effect during that period. + When the fund has 10 years of performance history the Since Inception return is no longer shown. + + Effective May 1, 2021, the MML Equity is closed to new investors. + + + Effective May 1, 2021, the Voya RussellTM Mid Cap Index Portfolio is closed to new investors. + + + + Effective May 1, 2021, the Voya RussellTM Small Cap Index Portfolio is closed to new investors. + + + + + Effective May 1, 2021, the Lord Abbett Developing Growth Portfolio is closed to new investors. + + + + + + Effective May 1, 2021, the Voya International Index Portfolio is closed to new investors. * Formerly known as Invesco V.I. Global Strategic Income Fund. * * Formerly known as Invesco V.I. Main Street Fund. * * * Formerly known as Invesco V.I. Discovery Mid Cap Growth Fund. * * * * Formerly known as Invesco Oppenheimer V.I. Global Fund. * * * * Formerly known as IVY VIP Asset Strategy Fund. * * * * * Formerly known as IVY VIP Science and Technology Fund.

MassMutual ElectrumSM (Policy Form SL18, ICC16SL18 and ICC16SL18 in North Carolina) is flexible premium adjustable variable life insurance. This product is non-participating. MassMutual ElectrumSM policies and certificates are issued by Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001.

Principal Underwriters: MML Investors Services, LLC MML Distributors, LLC

Subsidiaries of Massachusetts Mutual Life Insurance Company, 1295 State Street, Springfield, MA 01111-0001

© 2021 Massachusetts Mutual Life Insurance Company. All rights reserved.

8/31/2021 Page 6 of 6, MassMutual Electrum