Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print DWS Global Income Builder VIP A Release date as of 2025-04-30. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2025-04-30 Out of 237 Global Moderately Conservative Allocation Funds Morningstar® Style Box™ What is this? As of 2025-03-31 As of --- Total Fund Assets ($ Mil) 106.26 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks to maximize income while maintaining prospects for capital appreciation. The fund invests in a broad range of both traditional asset classes (such as equity and fixed income investments) and alternative asset classes (such as real estate, infrastructure, convertibles, commodities, currencies and absolute return strategies). It invests at least 25% of net assets in fixed income senior securities.

Morningstar Category: Global Moderately Conservative Allocation Funds in allocation categories seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately conservative strategies prioritize the preservation of capital over appreciation. They typically expect volatility similar to a strategic equity exposure between 30% and 50%. Funds in this global category are generally expected to have no more than 75% of their assets in US securities

Investment Risks There are no additional fund specific investment risks (e.g. liquidity risk, currency risk, foreign investment risk, etc.) associated with this fund beyond the normal risks generally associated with investing in a mutual fund.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 15.1 Non-U.S. Stocks 8.0 Bonds 59.6 Cash 6.8 Other 10.5 Data through 2025-03-31 Morningstar Equity Sectors % of Stocks Cyclical 31.19 Basic Materials 3.00 Consumer Cyclical 9.53 Financial Services 16.47 Real Estate 2.19 Sensitive 50.61 Communication Services 11.03 Energy 4.25 Industrials 11.81 Technology 23.52 Defensive 18.19 Consumer Defensive 5.81 Healthcare 9.94 Utilities 2.44 Data through 2025-03-31 Morningstar Fixed-Income Sectors % Fund Government 18.45 Corporate 43.80 Securitized 28.87 Municipal 0.00 Cash & Equivalents 8.88 Derivative 0.00 Data through 2025-03-31 Credit Analysis % Bonds AAA --- AA --- A --- BBB --- BB --- B --- Below B --- Not Rated --- Data through --- Holding Status Total Number of Stock Holdings 82 Total Number of Bond Holdings 208 % of Net Assets in Top 10 Holdings 25.50 Turnover % (as of 2024-12-31) 294.00 30 Day SEC Yield % 4.80 Top Holdings Sector Country Maturity Date Market Value ($000) % of Net Assets United States Treasury Notes 4.4952% --- USA 2026-01-31 6,828 6.34 United States Treasury Notes 4.4322% --- USA 2026-07-31 3,905 3.63 United States Treasury Bills 0% --- USA 2025-09-11 3,484 3.24 iShares Convertible Bond ETF --- USA --- 3,177 2.95 Federal National Mortgage Association 6.2397% --- USA 2053-11-25 2,605 2.42 Government National Mortgage Association 5.5% --- USA 2055-04-15 2,505 2.33 Progressive Corp USA --- 1,354 1.26 Pfizer Inc USA --- 1,309 1.22 JPMorgan Chase Bank, National Association 9.812% --- USA 2029-02-26 1,307 1.21 Northrop Grumman Corp USA --- 969 0.90 Data through 2025-03-31

Principal Risks    Lending, Credit and Counterparty, Extension, Inflation/Deflation, Inflation-Protected Securities, Prepayment (Call), Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, High Portfolio Turnover, Interest Rate, Market/Market Volatility, Bank Loans, Commodity, Convertible Securities, Equity Securities, ETF, High-Yield Securities, Industry and Sector Investing, Mortgage-Backed and Asset-Backed Securities, Restricted/Illiquid Securities, Derivatives, Pricing, ETN, Management, Real Estate/REIT Sector Show Risk Definitions

Other Information Inception Date: 1982-04-06 Portfolio Manager(s) Di Kumble   (2014-03-28) Managing Director, Senior Portfolio Manager, Head of Tax Managed Equities: New York -Joined the Company in 2003 with 7 years of industry experience. Prior to joining, Di served as a Portfolio Manager at Graham Capital Management. Previously, she worked as a Quantitative Strategist at ITG Inc and Morgan Stanley -PhD in Chemistry from Princeton University; CFA Charterholder Darwei Kung   (2013-08-01) Darwei Kung, Managing Director, has joined Deutsche Asset Management in 2006. Previously he has worked as a Director, Engineering and Business Development at Calpoint LLC from 2001-2004. He holds a BS and MS from University of Washington, Seattle; a MS and MBA from Carnegie Mellon University. Kelly L. Beam   (2023-04-25) Kelly L. Beam, CFA, is a Vice President of Deutsche Investment Management Americas Inc. She has been Vice President since 2010, Senior Corporate Bond Trader since 2006 and a Fixed Income Portfolio Manager since 2006 for DIMA. Ms. Beam joined Deutsche Investment Management Americas Inc. in 1999. Prior to joining the Credit Sector team, Ms. Beam served in Investment Support for Stable Value, Specialty Fixed Income and Global Insurance. She obtained her MBA degree from Fordham University and her undergraduate degree, Bachelor of Science, from Lehigh University. Investment Advisor(s) DWS Investment Management Americas, Inc. Issuer DWS Subadvisor(s) ---

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