Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Fidelity VIP Investment Grade Bd Init Release date as of 2024-10-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2024-10-31 Out of 431 Intermediate Core Bond Funds Morningstar® Style Box™ What is this? As of 2024-08-31 Total Fund Assets ($ Mil) 4,414.21 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks as high a level of current income as is consistent with the preservation of capital. The fund normally invests at least 80% of assets in investment-grade debt securities (those of medium and high quality) of all types and repurchase agreements for those securities. The advisor manages the fund to have similar overall interest rate risk to the Bloomberg U.S. Aggregate Bond Index. The fund allocates assets across different market sectors and maturities.

Morningstar Category: Intermediate Core Bond Intermediate-term core bond portfolios invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index.

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 0.0 Non-U.S. Stocks 0.0 Bonds 97.2 Cash 2.3 Other 0.5 Data through 2024-08-31 Morningstar Fixed-Income Sectors % Fund Government 40.52 Corporate 23.90 Securitized 33.21 Municipal 0.00 Cash & Equivalents 2.34 Derivative 0.03 Data through 2024-08-31 Credit Analysis % Bonds AAA 72.08 AA 2.27 A 7.74 BBB 17.43 BB 1.70 B 0.09 Below B 0.00 Not Rated -1.34 Data through 2024-08-31 Holding Status Total Number of Stock Holdings 0 Total Number of Bond Holdings 2645 % of Net Assets in Top 10 Holdings 25.30 Turnover % (as of 2023-12-31) 188.00 30 Day SEC Yield % 4.39 Top Holdings Maturity Date Shares Value $000 % of Net Assets United States Treasury Notes 3.375% 2033-05-15 211,100 203,134 4.60 United States Treasury Notes 1.25% 2028-05-31 155,752 142,160 3.22 United States Treasury Notes 3.5% 2033-02-15 144,500 140,571 3.18 United States Treasury Bonds 4.125% 2053-08-15 132,236 129,855 2.94 United States Treasury Notes 4% 2031-01-31 110,400 111,612 2.53 United States Treasury Bonds 4.25% 2054-02-15 98,940 99,326 2.25 United States Treasury Notes 2.875% 2032-05-15 88,237 82,550 1.87 United States Treasury Notes 4.125% 2030-08-31 71,100 72,375 1.64 Fidelity Cash Central Fund --- 68,606 68,620 1.55 United States Treasury Notes 4.375% 2030-11-30 65,000 67,057 1.52 Data through 2024-08-31

Principal Risks    Prepayment (Call), Foreign Securities, Loss of Money, Not FDIC Insured, High Portfolio Turnover, Issuer, Interest Rate, Leverage Show Risk Definitions

Other Information Inception Date: 1988-12-05 Portfolio Manager(s) Michael R Plage   (2024-10-01) Since joining Fidelity Investments in 2005, Mr. Plage has worked as a trader and portfolio manager. Michael Plage is a portfolio manager in the Fixed Income division at FMRCo. In this role, Mr. Plage manages institutional and retail Fixed Income portfolios within Core, Core Plus, and Tactical Bond strategies. Mr. Plage joined Fidelity in 2005, and has been in the investments industry since 1997. Mr. Plage earned his bachelor of science degree from the University of South Carolina and his master of business administration degree from the University of Connecticut. He is also a Chartered Financ Celso Munoz   (2016-10-18) Celso Munoz, CFA, Portfolio Manager, co‑manages retail and institutional assets. Mr. Munoz joined Fidelity as a research analyst in 2005 and has been managing fixed income portfolios since 2016. Prior to joining Fidelity, he served as an associate in the Merger & Acquisitions group within the investment banking practice at Deutsche Bank from 1999 to 2005. Mr. Munoz earned his Bachelor of Science degree in economics (with a concentration in finance) from the University of Pennsylvania and his Master of Business Administration degree from Harvard Business School. He is also a Chartered Financial Analyst charterholder. Brian Day   (2024-10-01) Brian Day is a portfolio manager in the Fixed Income 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. Day co-manages the Fidelity and Fidelity Advisor Investment Grade Bond Funds, Fidelity and Fidelity Advisor Sustainable Core Plus Bond Funds, Fidelity and Fidelity Advisor Tactical Bond Funds, Fidelity and Fidelity Advisor Total Bond Funds Fidelity Investment Grade Bond ETF, Fidelity Sustainable Core Plus Bond ETF, Fidelity Tactical Bond ETF, Fidelity Total Bond ETF, Fidelity VIP Investment Grade Bond Portfolio, and various institutional taxable bond portfolios. Prior to assuming his current portfolio management responsibilities, Mr. Day was a trader in Fidelity’s Fixed Income division where he was responsible for trading, relative value assessment, and general analysis of various sectors within securitized products, including commercial real estate, collateralized loan obligations (CLOs), UK residential mortgage-backed securities (RMBS), non-agency residential mortgages, and agency mortgages, as well as a research associate supporting the industrial and financial teams. Prior to joining Fidelity in 2012, Mr. Day was a professional hockey player for the Pittsburgh Penguins American League affiliate in Wilkes-Barre, Pennsylvania. Previously, Mr. Day was an intern at Goldman Sachs. He began working in the financial industry in 2010. Mr. Day earned his Bachelor of Arts in economics from Colgate University. He is also a CFA® charterholder. Stacie Ware   (2024-10-01) Stacie Ware is a portfolio manager in the Fixed Income 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, Ms. Ware co-manages the Fidelity and Fidelity Advisor Environmental Bond Funds, Fidelity and Fidelity Advisor Investment Grade Bond Funds, Fidelity and Fidelity Advisor Sustainable Core Plus Bond Funds, Fidelity and Fidelity Advisor Tactical Bond Funds, Fidelity and Fidelity Advisor Total Bond Funds Fidelity Investment Grade Bond ETF, Fidelity Sustainable Core Plus Bond ETF, Fidelity Tactical Bond ETF, Fidelity Total Bond ETF, Fidelity VIP Investment Grade Bond Portfolio, and various institutional taxable bond portfolios. Prior to assuming her current position, Ms. Ware was a quantitative analyst with the Core/Core Plus/Tactical Bond Investment team focused on asset allocation and risk management. Previously, she served as a quantitative analyst in the Asset Management division responsible for quantitative modeling initiatives in support of the Municipal Bond team. Prior to joining Fidelity in 2018, Ms. Ware was a senior fixed income quantitative analyst at State Street Global Advisors. In this capacity, she served as a quantitative portfolio manager for U.S. investment-grade credit and emerging-market sovereign debt factor portfolios and provided ongoing quantitative factor research in credit. Additionally, she was a quantitative research analyst responsible for conducting quantitative research in asset allocation, liquidity risk management, and fixed income. She has been in the financial industry since 2014. Ms. Ware earned her Master of Science in physics and astronomy from the University of Southampton, UK, having completed her master’s research project in a year abroad at Harvard University. She also earned her PhD in astrophysics from the University of Cambridge, UK. Ford E. O'Neil   (2015-07-31) Ford O’Neil, Portfolio Manager, manages retail and institutional assets. Mr. O’Neil joined Fidelity as an analyst in 1989 and has been a portfolio manager since 1992. Prior to joining Fidelity, he worked for Advest, Inc. as an associate in investment banking from 1985 to 1989. Mr. O’Neil received a Bachelor of Arts degree in government from Harvard College and a Master of Business Administration from The Wharton School at the University of Pennsylvania. 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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