Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print DWS CROCI International 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 338 Foreign Large Value Funds Morningstar® Style Box™ What is this? As of 2024-02-29 Total Fund Assets ($ Mil) 76.18 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks long-term growth of capital. Although the fund can invest in companies of any size and from any country, it invests mainly in common stocks of established companies in countries with developed economies (other than the United States). Portfolio management will select stocks of companies that it believes offer economic value utilizing the Cash Return on Capital Invested (CROCI®) strategy as the primary factor, in addition to other factors.

Morningstar Category: Foreign Large Value Foreign large-value portfolios invest mainly in big international stocks that are less expensive or growing more slowly than other large-cap stocks. 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). Value is defined based on low valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow). 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 1.3 Non-U.S. Stocks 97.5 Bonds 1.0 Cash 0.2 Other 0.0 Data through 2024-02-29 Morningstar Equity Sectors % of Stocks Cyclical 49.70 Basic Materials 17.51 Consumer Cyclical 11.23 Financial Services 20.96 Real Estate 0.00 Sensitive 26.83 Communication Services 10.15 Energy 4.57 Industrials 4.39 Technology 7.72 Defensive 23.48 Consumer Defensive 1.54 Healthcare 19.92 Utilities 2.02 Data through 2024-02-29 Morningstar World Regions % Fund Americas 1.3 North America 1.3 Latin America 0.0 Greater Europe 58.1 United Kingdom 9.8 Europe Developed 47.5 Europe Emerging 0.0 Africa/Middle East 0.8 Greater Asia 40.6 Japan 29.3 Australasia 5.2 Asia Developed 6.1 Asia Emerging 0.0 Data through 2024-02-29 Holding Status Total Number of Stock Holdings 64 Total Number of Bond Holdings 1 % of Net Assets in Top 10 Holdings 34.64 Turnover % (as of 2023-12-31) 69.00 30 Day SEC Yield % 2.50 Top Holdings Sector Country % of Net Assets Stellantis NV Netherlands 4.47 Vivendi SE France 4.16 Shionogi & Co Ltd Japan 3.81 Nintendo Co Ltd Japan 3.75 Shin-Etsu Chemical Co Ltd Japan 3.51 Oversea-Chinese Banking Corp Ltd Singapore 3.36 Lloyds Banking Group PLC United Kingdom 3.06 STMicroelectronics NV Switzerland 2.86 Holcim Ltd Switzerland 2.85 Sekisui House Ltd Japan 2.81 Data through 2024-02-29

Principal Risks    Lending, Credit and Counterparty, Currency, Foreign Securities, Loss of Money, Not FDIC Insured, Market/Market Volatility, Equity Securities, Industry and Sector Investing, Restricted/Illiquid Securities, Pricing, Management Show Risk Definitions

Other Information Inception Date: 1987-05-01 Portfolio Manager(s) Di Kumble   (2014-05-01) Managing Director, Senior Portfolio Manager, Head of Tax Managed Equities: New York -Joined the Company in 2003 with 7 years of industry experience. Prior to joining, Di served as a Portfolio Manager at Graham Capital Management. Previously, she worked as a Quantitative Strategist at ITG Inc and Morgan Stanley -PhD in Chemistry from Princeton University; CFA Charterholder John Moody   (2016-05-01) Vice President, Portfolio Analyst / Portfolio Manager: New York -Joined the Company in 1998. Prior to his current role, John served as a Business Manager for Active Equity. Previously, he was a Portfolio Analyst for EAFE, Global and Technology Funds and an Investment Accountant for International Funds. John began his career as a Client Service Associate for the International Institutional Equity Group -BS in Business Management from Fairfield University Investment Advisor(s) DWS Investment Management Americas, Inc. Issuer DWS Subadvisor(s) ---

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