Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Columbia VP Select Mid Cap Value 1 Release date as of 2024-10-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2024-10-31 Out of 373 Mid-Cap Value Funds Morningstar® Style Box™ What is this? As of 2024-10-31 Total Fund Assets ($ Mil) 255.99 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks to provide shareholders with long-term growth of capital. Under normal circumstances, the fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities of medium-sized companies. It may invest up to 25% of its net assets in foreign investments. The fund normally invests in common stocks and also may invest in real estate investment trusts. It may from time to time emphasize one or more sectors in selecting its investments, including the financial services sector.

Morningstar Category: Mid-Cap Value Some mid-cap value portfolios focus on medium-size companies while others land here because they own a mix of small-, mid-, and large-cap stocks. All look for U.S. stocks that are less expensive or growing more slowly than the market. Stocks in the middle 20% of the capitalization of the U.S. equity market are defined as mid-cap. Value is defined based on low valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow).

Investment Risks Mid Cap Funds: The securities of companies with market capitalizations below $10 billion may be more volatile and less liquid than the securities of larger companies.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 96.9 Non-U.S. Stocks 2.0 Bonds 0.0 Cash 1.1 Other 0.0 Data through 2024-10-31 Morningstar Equity Sectors % of Stocks Cyclical 40.82 Basic Materials 4.38 Consumer Cyclical 9.45 Financial Services 17.59 Real Estate 9.40 Sensitive 38.01 Communication Services 3.53 Energy 4.34 Industrials 17.00 Technology 13.14 Defensive 21.17 Consumer Defensive 4.52 Healthcare 7.77 Utilities 8.88 Data through 2024-10-31 Holding Status Total Number of Stock Holdings 49 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 27.67 Turnover % (as of 2023-12-31) 17.00 30 Day SEC Yield % --- Top Holdings Sector P/E % of Net Assets CACI International Inc Class A 27.40 3.49 Ingersoll Rand Inc 46.83 3.15 Entergy Corp 18.81 2.99 Welltower Inc --- 2.72 Corning Inc 250.47 2.67 AMETEK Inc 31.94 2.65 ITT Inc 23.91 2.62 The Hanover Insurance Group Inc 14.70 2.48 Marathon Petroleum Corp 7.63 2.45 The Carlyle Group Inc --- 2.45 Data through 2024-10-31

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Value Investing, Active Management, Issuer, Market/Market Volatility, Industry and Sector Investing, Portfolio Diversification, Mid-Cap, Financials Sector, Real Estate/REIT Sector Show Risk Definitions

Other Information Inception Date: 2010-05-03 Portfolio Manager(s) Kari L. Montanus   (2018-05-01) Kari Montanus is a portfolio manager on the Columbia Focused Value Team at Columbia Threadneedle Investments. Ms. Montanus joined one of the Columbia Threadneedle Investments legacy firms in 2003. Previously, she worked for Goldman Sachs & Co. as a vice president of investment research. Prior to that, she was an associate analyst of equity research for Morgan Stanley Dean Witter & Co. and for Morgan Stanley & Company in their Tokyo, Japan office. Ms. Montanus received a B.A. in international relations from Stanford University and an MBA in finance from The Wharton School, University of Pennsylvania. Jonas Patrikson   (2014-06-25) Jonas Patrikson is a portfolio manager for Columbia Threadneedle Investments. Mr. Patrikson joined one of the Columbia Threadneedle Investments legacy firms in 2004. Previously, Mr. Patrikson served as a senior research analyst at Nordberg Capital and as an investment manager in Sweden working for SIF and Svenska Kreditforsakrings AB. He has been a member of the investment community since 1990. Mr. Patrikson holds a B.A. in Finance and Accounting from University of Linkoping, Sweden. In addition, he holds the Chartered Financial Analyst® designation and is a member of the CFA Society of Portland. Investment Advisor(s) Columbia Mgmt Investment Advisers, LLC Issuer Columbia Threadneedle Subadvisor(s) ---

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