Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print DWS Global Income Builder VIP A 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 333 Global Allocation Funds Morningstar® Style Box™ What is this? As of 2024-09-30 As of --- Total Fund Assets ($ Mil) 111.47 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks to maximize income while maintaining prospects for capital appreciation. The fund invests in a broad range of both traditional asset classes (such as equity and fixed income investments) and alternative asset classes (such as real estate, infrastructure, convertibles, commodities, currencies and absolute return strategies). It invests at least 25% of net assets in fixed income senior securities.

Morningstar Category: Global Allocation Global-allocation portfolios seek to provide both capital appreciation and income by investing in three major areas: stocks, bonds, and cash. While these portfolios do explore the whole world, most of them focus on the U.S., Canada, Japan, and the larger markets in Europe. It is rare for such portfolios to invest more than 10% of their assets in emerging markets. These portfolios typically have at least 10% of assets in bonds, less than 70% of assets in stocks, and at least 40% of assets in non-U.S. stocks or bonds.

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 13.0 Non-U.S. Stocks 9.2 Bonds 58.8 Cash 12.1 Other 6.9 Data through 2024-09-30 Morningstar Equity Sectors % of Stocks Cyclical 28.22 Basic Materials 3.18 Consumer Cyclical 7.52 Financial Services 17.18 Real Estate 0.34 Sensitive 51.76 Communication Services 9.73 Energy 5.90 Industrials 11.94 Technology 24.19 Defensive 20.01 Consumer Defensive 8.00 Healthcare 11.11 Utilities 0.90 Data through 2024-09-30 Morningstar Fixed-Income Sectors % Fund Government 29.80 Corporate 34.31 Securitized 20.33 Municipal 0.00 Cash & Equivalents 15.55 Derivative 0.00 Data through 2024-09-30 Credit Analysis % Bonds AAA --- AA --- A --- BBB --- BB --- B --- Below B --- Not Rated --- Data through --- Holding Status Total Number of Stock Holdings 85 Total Number of Bond Holdings 179 % of Net Assets in Top 10 Holdings 30.25 Turnover % (as of 2023-12-31) 180.00 30 Day SEC Yield % 4.10 Top Holdings Sector Country Maturity Date Market Value ($000) % of Net Assets United States Treasury Notes 4.7968% --- USA 2026-01-31 13,070 11.07 United States Treasury Notes 4.875% --- USA 2026-04-30 3,967 3.36 United States Treasury Notes 4.7338% --- USA 2026-07-31 3,895 3.30 Federal National Mortgage Association 7% --- USA 2053-11-25 3,196 2.71 United States Treasury Bills 5.0562% --- USA 2025-03-20 3,135 2.65 iShares MSCI Emerging Markets ETF --- USA --- 2,307 1.95 Federal National Mortgage Association 5.5% --- USA 2054-10-15 2,226 1.88 Government National Mortgage Association 5% --- USA 2054-03-20 1,518 1.29 Merck & Co Inc USA --- 1,261 1.07 NVIDIA Corp USA --- 1,149 0.97 Data through 2024-09-30

Principal Risks    Lending, Credit and Counterparty, Extension, Inflation/Deflation, Inflation-Protected Securities, Prepayment (Call), Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, High Portfolio Turnover, Interest Rate, Market/Market Volatility, Bank Loans, Commodity, Convertible Securities, Equity Securities, ETF, High-Yield Securities, Industry and Sector Investing, Mortgage-Backed and Asset-Backed Securities, Restricted/Illiquid Securities, Derivatives, Pricing, ETN, Management, Real Estate/REIT Sector Show Risk Definitions

Other Information Inception Date: 1982-04-06 Portfolio Manager(s) Di Kumble   (2014-03-28) 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 Darwei Kung   (2013-08-01) Darwei Kung, Managing Director, has joined Deutsche Asset Management in 2006. Previously he has worked as a Director, Engineering and Business Development at Calpoint LLC from 2001-2004. He holds a BS and MS from University of Washington, Seattle; a MS and MBA from Carnegie Mellon University. Kelly L. Beam   (2023-04-25) Kelly L. Beam, CFA, is a Vice President of Deutsche Investment Management Americas Inc. She has been Vice President since 2010, Senior Corporate Bond Trader since 2006 and a Fixed Income Portfolio Manager since 2006 for DIMA. Ms. Beam joined Deutsche Investment Management Americas Inc. in 1999. Prior to joining the Credit Sector team, Ms. Beam served in Investment Support for Stable Value, Specialty Fixed Income and Global Insurance. She obtained her MBA degree from Fordham University and her undergraduate degree, Bachelor of Science, from Lehigh University. Daniel Park   (2023-04-25) Daniel Park, Portfolio Manager Multi Asset & Solutions. Portfolio Manager of the fund. Began managing the fund in 2023. ◾Joined DWS in 2014. ◾Portfolio Manager - Multi Asset & Solutions. ◾BA in Economics, University of Bonn; MSc in International Business, Maastricht University. Investment Advisor(s) DWS Investment Management Americas, Inc. Issuer DWS Subadvisor(s) ---

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