Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Columbia VP Select Mid Cap Growth 1 Release date as of 2022-05-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2022-05-31 Out of 532 Mid-Cap Growth Funds Morningstar® Style Box™ What is this? As of 2022-05-31 Total Fund Assets ($ Mil) 419.38 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks to provide shareholders with growth of capital. Under normal market conditions, the fund will invest at least 80% of its net assets (including the amount of any borrowings for investment purposes) at the time of purchase in the common stocks of mid-capitalization companies. For these purposes, mid-cap companies are considered to be companies whose market capitalization falls within the market capitalization range of the companies that comprise the Russell Midcap® Index at the time of purchase. It may invest up to 20% of its total assets in foreign securities.

Morningstar Category: Mid-Cap Growth Some mid-cap growth portfolios invest in stocks of all sizes, thus leading to a mid-cap profile, but others focus on midsize companies. Mid-cap growth portfolios target U.S. firms that are projected to grow faster than other mid-cap stocks, therefore commanding relatively higher prices. Stocks in the middle 20% of the capitalization of the U.S. equity market are defined as mid-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).

Investment Risks Mid Cap Funds: The securities of companies with market capitalizations below $10 billion may be more volatile and less liquid than the securities of larger companies.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 98.3 Non-U.S. Stocks 0.0 Bonds 0.0 Cash 1.7 Other 0.0 Data through 2022-05-31 Morningstar Equity Sectors % of Stocks Cyclical 28.04 Basic Materials 2.19 Consumer Cyclical 17.28 Financial Services 5.32 Real Estate 3.25 Sensitive 51.02 Communication Services 3.11 Energy 2.78 Industrials 12.38 Technology 32.75 Defensive 20.94 Consumer Defensive 0.00 Healthcare 20.94 Utilities 0.00 Data through 2022-05-31 Holding Status Total Number of Stock Holdings 52 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 29.95 Turnover % (as of 2021-12-31) 75.00 30 Day SEC Yield % --- Top Holdings Sector P/E % of Net Assets Bio-Techne Corp 67.47 3.43 Cadence Design Systems Inc 57.36 3.41 CoStar Group Inc 78.13 3.19 Chipotle Mexican Grill Inc 58.34 3.07 Repligen Corp 65.01 3.07 CDW Corp 23.46 2.99 Devon Energy Corp 14.00 2.73 Cintas Corp 35.25 2.73 IQVIA Holdings Inc 38.85 2.71 Ingersoll Rand Inc 36.84 2.62 Data through 2022-05-31

Principal Risks    Event-Driven Investment/Arbitrage Strategies, Foreign Securities, Loss of Money, Not FDIC Insured, Growth Investing, Active Management, Issuer, Market/Market Volatility, Depositary Receipts, Industry and Sector Investing, Portfolio Diversification, Mid-Cap Show Risk Definitions

Other Information Inception Date: 2010-05-03 Portfolio Manager(s) Erika K Maschmeyer   (2018-02-12) Ms. Maschmeyer joined Columbia WAM, a Participating Affiliate, in 2016. Prior to joining Columbia WAM, Ms. Maschmeyer was a research analyst at Oak Ridge Investments where she was responsible for U.S. consumer discretionary/staples investments. Ms. Maschmeyer began her investment career in 2001 and earned a B.A. from Denison University and an M.B.A from the University of Chicago. John L. Emerson   (2018-02-12) Mr. Emerson has been associated with the Columbia WAM or its predecessors as an investment professional since 2003 and has been a Vice President of the Trust since March 2020. Prior to joining the Investment Manager, Mr. Emerson was an analyst at an equity research Columbia WAM. Mr. Emerson began his investment career in 2002 and earned a B.S. from the University of Missouri and an M.B.A from the University of Chicago. Daniel H. Cole   (2021-04-15) Daniel Cole is a senior portfolio manager for Columbia Threadneedle Investments. Mr. Cole joined one of the Columbia Threadneedle Investments firms in 2014. Previously, Mr. Cole was a senior portfolio manager and senior managing director at Manulife Asset Management where he was team lead for the small, smid, and mid growth strategies. Prior to that, Mr. Cole was a portfolio manager at Neuberger Berman. He has been a member of the investment community since 1993.Mr. Cole received a B.S. in pre-med curriculum from Guilford College and an MBA in finance from Virginia Tech. Investment Advisor(s) Columbia Mgmt Investment Advisers, LLC Issuer Columbia Threadneedle Subadvisor(s) ---

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