Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print DWS Small Cap Index VIP A Release date as of 2024-03-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2024-03-31 Out of 584 Small Blend Funds Morningstar® Style Box™ What is this? As of 2024-02-29 Total Fund Assets ($ Mil) 404.27 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks to replicate, as closely as possible, before the deduction of expenses, the performance of the Russell 2000® Index, which emphasizes stocks of small U.S. companies. Under normal circumstances, the fund invests at least 80% of its assets, determined at the time of purchase, in stocks of companies included in the Russell 2000 Index® and in derivative instruments, such as stock index futures contracts and options that provide exposure to the stocks of companies in the index. The fund's securities are weighted to attempt to make the fund's total investment characteristics similar to those of the index as a whole.

Morningstar Category: Small Blend Small-blend portfolios favor U.S. firms at the smaller end of the market-capitalization range. Some aim to own an array of value and growth stocks while others employ a discipline that leads to holdings with valuations and growth rates close to the small-cap averages. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. The blend style is assigned to portfolios where neither growth nor value characteristics predominate.

Investment Risks Small Cap Funds: Smaller companies typically have higher risk of failure, and are not as well established as larger blue-chip companies. Historically, the smaller company stocks have experienced a greater degree of market volatility than the overall market average.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 95.9 Non-U.S. Stocks 1.7 Bonds 0.0 Cash 2.4 Other 0.0 Data through 2024-02-29 Morningstar Equity Sectors % of Stocks Cyclical 36.33 Basic Materials 4.89 Consumer Cyclical 10.63 Financial Services 14.12 Real Estate 6.69 Sensitive 41.15 Communication Services 1.96 Energy 6.56 Industrials 15.68 Technology 16.95 Defensive 22.51 Consumer Defensive 4.17 Healthcare 15.82 Utilities 2.52 Data through 2024-02-29 Holding Status Total Number of Stock Holdings 1950 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 4.76 Turnover % (as of 2023-12-31) 14.00 30 Day SEC Yield % 0.00 Top Holdings Sector P/E % of Net Assets Super Micro Computer Inc 79.03 1.53 MicroStrategy Inc Class A 64.52 0.48 e.l.f. Beauty Inc 86.74 0.43 Comfort Systems USA Inc 35.26 0.41 Light & Wonder Inc Ordinary Shares 58.34 0.35 Onto Innovation Inc 73.61 0.34 Simpson Manufacturing Co Inc 24.84 0.34 Fabrinet 27.28 0.30 Vaxcyte Inc Ordinary Shares --- 0.29 BellRing Brands Inc Class A 47.99 0.29 Data through 2024-02-29

Principal Risks    Lending, Credit and Counterparty, Loss of Money, Not FDIC Insured, Nondiversification, Index Correlation/Tracking Error, Market/Market Volatility, Equity Securities, Restricted/Illiquid Securities, Derivatives, Pricing, Management, Passive Management, Small Cap Show Risk Definitions

Other Information Inception Date: 1997-08-22 Portfolio Manager(s) Brent D. Reeder   (2007-05-01) Brent Reeder, Senior Vice President at The Northern Trust Company, Chicago, is the Team Leader-Domestic Index in the Quantitative Management Group of Northern Trust Global Investments (NTGI). Before his current role, he was a Portfolio Manager in the Quantitative Management Group of NTGI, responsible for the management of index portfolios. Brent has a broad range of expertise in both large capitalization and small capitalization index mandates. Prior to this, Brent spent five years in trust operations as a team leader of the Foundations and Endowments team. He received a B.A. degree in Economics from DePauw University and an M.B.A. degree in Finance from DePaul University. Brent is an Associated Person with the National Futures Association. Investment Advisor(s) DWS Investment Management Americas, Inc. Issuer DWS Subadvisor(s) Northern Trust Investments Inc

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