Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Fidelity VIP Growth Initial Release date as of 2025-09-30. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2025-09-30 Out of 1024 Large Growth Funds Morningstar® Style Box™ What is this? As of 2025-08-31 Total Fund Assets ($ Mil) 11,781.25 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks to achieve capital appreciation. The fund primarily invests in common stocks. It invests in companies that the adviser believes have above-average growth potential (stocks of these companies are often called "growth" stocks). The fund invests in domestic and foreign issuers. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. It is non-diversified.

Morningstar Category: Large Growth Large-growth portfolios invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields). Most of these portfolios focus on companies in rapidly expanding industries.

Investment Risks Non-Diversified Funds: Funds that invest more of their assets in a single issuer involve additional risks, including share price fluctuations, because of the increased concentration of investments.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 90.3 Non-U.S. Stocks 8.4 Bonds 0.0 Cash 0.9 Other 0.3 Data through 2025-08-31 Morningstar Equity Sectors % of Stocks Cyclical 24.19 Basic Materials 2.04 Consumer Cyclical 12.46 Financial Services 9.44 Real Estate 0.25 Sensitive 63.70 Communication Services 15.69 Energy 0.99 Industrials 6.70 Technology 40.32 Defensive 12.10 Consumer Defensive 2.23 Healthcare 9.07 Utilities 0.80 Data through 2025-08-31 Holding Status Total Number of Stock Holdings 117 Total Number of Bond Holdings 2 % of Net Assets in Top 10 Holdings 53.96 Turnover % (as of 2024-12-31) 58.00 30 Day SEC Yield % --- Top Holdings Sector P/E % of Net Assets NVIDIA Corp 52.05 12.96 Microsoft Corp 37.65 10.90 Amazon.com Inc 32.48 4.62 Meta Platforms Inc Class A 26.00 4.60 Mastercard Inc Class A 37.83 4.48 Alphabet Inc Class A 27.00 4.42 Apple Inc 38.28 4.36 Broadcom Inc 89.80 2.98 Netflix Inc 51.10 2.43 Taiwan Semiconductor Manufacturing Co Ltd ADR --- 2.21 Data through 2025-08-31

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Growth Investing, Nondiversification, Issuer, Market/Market Volatility, Equity Securities Show Risk Definitions

Other Information Inception Date: 1986-10-09 Portfolio Manager(s) Daniel E. Kelley   (2025-04-11) Daniel Kelley is a portfolio manager in the Equity division at Fidelity Investments. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to institutions, financial intermediaries, and individuals. Christopher Lin   (2025-04-11) Christopher Lin is portfolio manager of Computers Portfolio, which he has managed since January 2013. Since joining Fidelity Investments in 2003, Mr. Lin has worked as a research analyst and portfolio manager. Investment Advisor(s) Fidelity Management & Research Company LLC Issuer Fidelity Investments Subadvisor(s) FMR Investment Management (U.K.) Limited Fidelity Management & Research (Japan) Limited Fidelity Management & Research (HK) Ltd

Show Data Definitions © Copyright 2025 Morningstar, Inc. All rights reserved. Morningstar, the Morningstar logo, Morningstar.com, Morningstar Tools are either trademark or service marks of Morningstar, Inc. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or any losses arising from any use of information. Past performance is no guarantee of future performance. Past performance is no guarantee of future results. Returns will vary and shares may be worth more or less than their original cost when sold.