Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Fidelity® VIP Asset Manager Initial 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 706 Allocation--50% to 70% Equity Funds Morningstar® Style Box™ What is this? As of 2022-03-31 As of 2022-03-31 Total Fund Assets ($ Mil) 1,029.04 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks to obtain high total return with reduced risk over the long term by allocating its assets among stocks, bonds, and short-term instruments. The adviser maintains a neutral mix over time of 50% of assets in stocks, 40% of assets in bonds, and 10% of assets in short-term and money market instruments. The adviser adjusts allocation among asset classes gradually within the following ranges: stock class (30%-70%), bond class (20%-60%), and short-term/money market class (0%-50%).

Morningstar Category: Allocation--50% to 70% Equity 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 moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%.

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 39.1 Non-U.S. Stocks 14.8 Bonds 36.4 Cash 8.0 Other 1.8 Data through 2022-03-31 Morningstar Equity Sectors % of Stocks Cyclical 35.56 Basic Materials 4.28 Consumer Cyclical 11.39 Financial Services 14.20 Real Estate 5.69 Sensitive 44.25 Communication Services 8.24 Energy 4.09 Industrials 9.54 Technology 22.38 Defensive 20.18 Consumer Defensive 6.15 Healthcare 11.62 Utilities 2.41 Data through 2022-03-31 Morningstar Fixed-Income Sectors % Fund Government 35.25 Corporate 30.56 Securitized 15.90 Municipal 0.46 Cash & Equivalents 17.73 Other 0.11 Data through 2022-03-31 Credit Analysis % Bonds AAA 55.03 AA 1.78 A 8.39 BBB 19.35 BB 5.55 B 5.83 Below B 0.53 Not Rated 3.54 Data through 2022-03-31 Holding Status Total Number of Stock Holdings 1062 Total Number of Bond Holdings 3528 % of Net Assets in Top 10 Holdings 22.83 Turnover % (as of 2021-12-31) 20.00 30 Day SEC Yield % --- Top Holdings Sector Country Maturity Date Market Value ($000) % of Net Assets Fidelity Revere Str Tr --- USA --- 87,406 7.86 Apple Inc USA --- 30,148 2.71 Microsoft Corp USA --- 29,180 2.62 iShares 20+ Year Treasury Bond ETF --- USA --- 21,720 1.95 Alphabet Inc Class A USA --- 20,033 1.80 Amazon.com Inc USA --- 15,363 1.38 United States Treasury Notes 1.25% --- USA 2028-05-31 14,880 1.34 United States Treasury Bonds 2% --- USA 2051-08-15 13,142 1.18 Fidelity Garrison Str Tr --- USA --- 11,672 1.05 United States Treasury Notes 0.25% --- USA 2025-07-31 10,404 0.94 Data through 2022-03-31

Principal Risks    Prepayment (Call), Foreign Securities, Loss of Money, Not FDIC Insured, Income, Issuer, Interest Rate, Market/Market Volatility, Equity Securities Show Risk Definitions

Other Information Inception Date: 1989-09-06 Portfolio Manager(s) Geoffrey D. Stein   (2009-06-12) Geoff Stein joined Fidelity Investments in 1994, since then he has worked as director of the Portfolio Analysis Group, director of Portfolio Strategy for Strategic Advisers LLC, and portfolio manager. Avishek Hazrachoudhury   (2018-04-30) Avishek Hazrachoudhury joined Fidelity Investments in 2013, since then he has worked as a quantitative analyst and portfolio manager. Investment Advisor(s) Fidelity Management & Research Company LLC 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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