Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Fidelity VIP Overseas Initial 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 383 Foreign Large Growth Funds Morningstar® Style Box™ What is this? As of 2024-02-29 Total Fund Assets ($ Mil) 1,924.3 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks long-term growth of capital. The fund normally invests at least 80% of assets in non-U.S. securities. It allocates investments across different countries and regions. The fund primarily invests in common stocks. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.

Morningstar Category: Foreign Large Growth Foreign large-growth portfolios focus on high-priced growth stocks, mainly outside of the United States. Most of these portfolios divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. These portfolios primarily invest in stocks that have market caps in the top 70% of each economically integrated market (such as Europe or Asia ex-Japan). 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). These portfolios typically will have less than 20% of assets invested in U.S. stocks.

Investment Risks Foreign Securities Funds/Emerging Market Funds: Risks include, but are not limited to, currency risk, political risk, and risk associated with varying accounting standards. Investing in emerging markets may accentuate these risks.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 9.5 Non-U.S. Stocks 88.3 Bonds 0.0 Cash 1.0 Other 1.2 Data through 2024-02-29 Morningstar Equity Sectors % of Stocks Cyclical 38.79 Basic Materials 8.58 Consumer Cyclical 9.62 Financial Services 19.68 Real Estate 0.91 Sensitive 42.49 Communication Services 0.55 Energy 1.08 Industrials 20.94 Technology 19.92 Defensive 18.72 Consumer Defensive 3.96 Healthcare 14.76 Utilities 0.00 Data through 2024-02-29 Morningstar World Regions % Fund Americas 12.6 North America 12.6 Latin America 0.0 Greater Europe 69.9 United Kingdom 16.1 Europe Developed 53.8 Europe Emerging 0.0 Africa/Middle East 0.0 Greater Asia 17.6 Japan 15.5 Australasia 0.0 Asia Developed 0.7 Asia Emerging 1.4 Data through 2024-02-29 Holding Status Total Number of Stock Holdings 98 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 24.09 Turnover % (as of 2023-12-31) 31.00 30 Day SEC Yield % --- Top Holdings Sector Country % of Net Assets ASML Holding NV Netherlands 4.08 Novo Nordisk A/S Class B Denmark 3.37 Lvmh Moet Hennessy Louis Vuitton SE France 2.44 AstraZeneca PLC United Kingdom 2.18 SAP SE Germany 2.15 RELX PLC United Kingdom 2.12 Tokio Marine Holdings Inc Japan 1.96 Safran SA France 1.96 Wolters Kluwer NV Netherlands 1.95 Shin-Etsu Chemical Co Ltd Japan 1.88 Data through 2024-02-29

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, Issuer, Market/Market Volatility, Equity Securities Show Risk Definitions

Other Information Inception Date: 1987-01-28 Portfolio Manager(s) Vincent Montemaggiore   (2016-10-25) Vincent Montemaggiore is a portfolio manager in the Equity division at Fidelity Investments. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to institutions, financial intermediaries, and individuals. In this role, Mr. Montemaggiore manages the Fidelity and Fidelity Advisor Overseas Fund and Fidelity VIP Overseas Portfolio. He has managed the Fidelity Overseas Fund since January of 2012 and took on lead portfolio manager responsibilities for the Fidelity Advisor Overseas Fund and VIP Overseas Portfolio in October of 2016. Prior to assuming his current responsibilities, Mr. Montemaggiore co-managed Select Banking Portfolio, after being sole manager on the fund from 2008 to 2012. He also assumed research analyst coverage responsibilities for largecap and regional banks in 2008. Previously, Mr. Montemaggiore managed Select Industrial Equipment Portfolio, after taking on research coverage of industrial and machinery stocks in 2006. Prior to joining Fidelity in 2004, Mr. Montemaggiore worked as an investment banking analyst at de Guardiola Advisors, Inc. He also worked at Putnam Lovell Securities, Inc., where he focused on mergers and acquisitions within the financial services industry. He has been in the financial industry since 2000. Mr. Montemaggiore earned his bachelor of science degree in engineering from the University of Pennsylvania and his master of business administration degree from Columbia Business School. Investment Advisor(s) Fidelity Management & Research Company LLC Issuer Fidelity Investments Subadvisor(s) FMR Investment Management (U.K.) Limited Fidelity Management & Research (Japan) Limited FIL Investments (Japan) Limited Fil Investment Advisors Fidelity Management & Research (Hong Kong) Ltd FIL Investment Advisors (UK) Ltd

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