Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Fidelity VIP High Income Initial Release date as of 2024-10-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Fees and Expenses Taken from prospectus dated 2024-04-29   Maximum Fees Administrative --- Management 0.63% 12b-1 --- Actual Fees 12b-1 --- Management 0.63% Expense Ratio 0.66% (taken from annual report dated 2024-06-30) Total Annual Operating Expense 0.77%

Waiver Data Type Date % --- --- --- ---

Management Inception Date: 1985-09-19

Mngr Name Alexandre Karam Mngr Start Date 2018-12-01 Biography Alexandre Karam is a portfolio manager in the High Income 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 more than 26 million individuals, institutions, and financial intermediaries. Mngr Name Benjamin Harrison Mngr Start Date 2022-01-03 Biography Benjamin Harrison is a portfolio manager in the High Income and Alternatives division at Fidelity Investments, where he manages retail and institutional assets. Prior to assuming his current portfolio management responsibilities, Mr. Harrison was a Managing Director of Research and Business Development, where he had oversight of the high income, emerging market debt, and real estate research teams. He also served as a research analyst covering chemical, services, forest products, and technology credits. He has been in the financial industry since joining Fidelity in 2009. Mngr Name Jared Beckerman Mngr Start Date 2024-01-01 Biography Jared Beckerman is a research analyst in the High Income and Alternatives 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. In this role, Mr. Beckerman evaluates investment opportunities across multiple asset classes, including stocks, high yield bonds, and leveraged loans. He currently covers companies in the healthcare industry. His prior research coverage included energy services, midstream and refining, casinos and gaming, shipping, aerospace & defense, capital goods, and railroad companies. Prior to joining Fidelity in 2012, Mr. Beckerman was a research analyst at Sugarloaf Rock Capital where he focused on evaluating public investment opportunities across the media & telecommunications industry. He also was an investment banking analyst at Deutsche Bank. He has been in the financial industry since 2006. Mr. Beckerman earned his bachelor of science in applied economics and management from Cornell University and his master of business administration from Columbia Business School. Investment Advisor(s) Fidelity Management & Research Company LLC Web Site www.institutional.fidelity.com Issuer Fidelity Investments Subadvisor(s) FMR Investment Management (U.K.) Limited Fidelity Management & Research (Japan) Limited Fidelity Management & Research (HK) Ltd

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