Form 497 PACIFIC SELECT EXEC SEPA

Supplement dated May 26, 2022 to the Prospectus dated May 1, 2022

for M’s Versatile Product, M’s Versatile Product VI, M’s Versatile Product VII,

M’s Versatile Product-Survivorship II, Pacific Select Performer 500, Pacific Prime VUL,

Pacific Select Excel Survivorship VUL, Pacific Select Exec II,

Pacific Select Exec III, Pacific Select Exec IV, Pacific Select Exec, Pacific Select Exec V,

and Pacific Select Estate Preserver VI policies issued by Pacific Life Insurance Company

The purpose of this supplement is to announce various underlying fund changes. This supplement must be preceded or accompanied by the Prospectus for your Policy, as supplemented (the “Prospectus”). All information in your Prospectus dated May 1, 2022, remains in effect unless otherwise supplemented. Capitalized terms used in this supplement are defined in your Policy Prospectus unless otherwise defined herein.  “We,” “us,” or “our” refer to Pacific Life Insurance Company; “you” or “your” refer to the Policy Owner. You can obtain a copy of the current Prospectus by contacting us at (800) 347-7787, or online at www.PacificLife.com. Please retain it for future reference.

The Templeton Global Bond VIP Fund Class 2 fund information in the APPENDIX: FUNDS AVAILABLE UNDER THE POLICY section will be deleted and replaced with the following:

1 To help limit Fund expenses, Fund advisers have contractually agreed to reduce investment advisory fees or otherwise reimburse certain Funds which reflect temporary fee reductions. There can be no assurance that Fund expense waivers or reimbursements will be extended beyond their current terms as outlined in each Fund prospectus, and they may not cover certain expenses such as extraordinary expenses. See each Fund prospectus for complete information regarding these arrangements.

Form No. 15-51994-00