Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Vanguard VIF Diversified Val Release date as of 2024-03-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Fees and Expenses Taken from prospectus dated 2023-04-28   Maximum Fees Administrative --- Management 0.28% 12b-1 --- Actual Fees 12b-1 --- Management 0.28% Expense Ratio 0.29% (taken from annual report dated 2023-12-31) Total Annual Operating Expense 0.29%

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

Management Inception Date: 1999-02-08

Mngr Name Scott McBride Mngr Start Date 2019-12-16 Biography Scott McBride serves as CEO and portfolio manager on the Large Cap Fundamental Value, Large Cap Diversified Value, Global Value and Focused Global Value portfolios. He covers technology companies and is a member of the consumer, technology, healthcare and financial sector teams. Prior to joining the firm in 2001, Mr. McBride was an associate consultant with Deloitte Consulting and worked as an investment marketing analyst with Fidelity Investments. Mr. McBride, a CFA charterholder, received his BA in Economics from Georgetown University and MBA from Columbia University. Mngr Name Henry Ross Seiden Mngr Start Date 2022-02-25 Biography Ross Seiden is a Director and Portfolio Manager/Analyst on various US equity strategies. He is also responsible for research coverage of companies in the healthcare sector. Ross began working in the investment field in 2006. Prior to joining Lazard in 2010, he was an Equity Research Associate covering the financials sector at Credit Suisse. Ross has a BBA in Finance and Accounting from the Ross School of Business at the University of Michigan. Mngr Name George H. Davis Mngr Start Date 2019-12-16 Biography George Davis serves as Executive Chairman and portfolio manager on the Large Cap Fundamental Value and Large Cap Diversified Value portfolios. He is a member of the capital goods and financials sector teams. Prior to joining the firm in 1988, Mr. Davis was an assistant to the senior partner of RCM Capital Management. He began his career in equity research with internships at Cramer, Rosenthal & McGlynn and Fidelity Management & Research. Mr. Davis received his BA in Economics and History and MBA from Stanford University. Mngr Name Andrew D. Lacey Mngr Start Date 2019-12-16 Biography Andrew Lacey is a Managing Director and a Portfolio Manager/Analyst on various US equity strategies as well as Global Equity Select. He began working in the investment field upon joining the firm in 1995 as a Research Analyst covering the technology sector. Andrew has an MBA from Columbia University and a BA (Hons) from the College of Social Studies, Wesleyan University. Prior to joining Lazard, Andrew was a teacher at the Pingry School and Buckingham Browne & Nichols for five years. He continues to be involved in education as a board member for KIPP New Jersey and Link Education Partners. Investment Advisor(s) Lazard Asset Management LLC Hotchkis & Wiley Capital Management LLC Web Site www.vanguard.com Issuer Vanguard Subadvisor(s) ---

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