Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Pioneer Select Mid Cap Growth VCT I 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 520 Mid-Cap Growth Funds Morningstar® Style Box™ What is this? As of 2024-02-29 Total Fund Assets ($ Mil) 97.05 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks long-term capital growth. Normally, the portfolio invests at least 80% of its net assets in equity securities of mid-size companies. Mid-size companies are those with market values, at the time of investment, that do not exceed the greater of the market capitalization of the largest company within the Russell Midcap Growth Index. It may invest up to 20% of its total assets in debt securities. The portfolio may invest up to 5% of its net assets in below investment grade debt securities (known as "junk bonds"), including below investment grade convertible debt securities, and securities in default.

Morningstar Category: Mid-Cap Growth Some mid-cap growth portfolios invest in stocks of all sizes, thus leading to a mid-cap profile, but others focus on midsize companies. Mid-cap growth portfolios target U.S. firms that are projected to grow faster than other mid-cap stocks, therefore commanding relatively higher prices. Stocks in the middle 20% of the capitalization of the U.S. equity market are defined as mid-cap. 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).

Investment Risks Mid Cap Funds: The securities of companies with market capitalizations below $10 billion may be more volatile and less liquid than the securities of larger companies.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 90.0 Non-U.S. Stocks 9.4 Bonds 0.0 Cash 0.6 Other 0.0 Data through 2024-02-29 Morningstar Equity Sectors % of Stocks Cyclical 19.59 Basic Materials 2.40 Consumer Cyclical 10.71 Financial Services 4.88 Real Estate 1.60 Sensitive 60.83 Communication Services 3.18 Energy 3.19 Industrials 18.79 Technology 35.67 Defensive 19.58 Consumer Defensive 1.75 Healthcare 17.83 Utilities 0.00 Data through 2024-02-29 Holding Status Total Number of Stock Holdings 77 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 25.17 Turnover % (as of 2023-12-31) 74.00 30 Day SEC Yield % --- Top Holdings Sector P/E % of Net Assets CrowdStrike Holdings Inc Class A 866.46 3.20 Advanced Micro Devices Inc 340.55 2.92 Chipotle Mexican Grill Inc 65.56 2.72 MSCI Inc 38.95 2.50 Vertiv Holdings Co Class A 68.63 2.48 MongoDB Inc Class A --- 2.42 Synopsys Inc 63.08 2.32 Amphenol Corp Class A 37.09 2.27 W.W. Grainger Inc 28.08 2.25 Natera Inc --- 2.09 Data through 2024-02-29

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Growth Investing, Market/Market Volatility, Convertible Securities, Industry and Sector Investing, IPO, Other, Preferred Stocks, Restricted/Illiquid Securities, Underlying Fund/Fund of Funds, Warrants, Derivatives, Leverage, Pricing, Fixed-Income Securities, Socially Conscious, Increase in Expenses, Shareholder Activity, Management, Mid-Cap, Real Estate/REIT Sector Show Risk Definitions

Other Information Inception Date: 1993-01-07 Portfolio Manager(s) Kenneth J. Winston   (2013-05-01) Ken Winston, Portfolio Manager and Vice President, joined Pioneer Investment Management Limited in 2007 from Hartford Investment Management Company where he was senior vice president with portfolio management and analyst responsibilities for small and mid cap growth portfolios. Mr. Winston has served as portfolio manager of SELECT MID CAP GROWTH FUND since 2013 and its predecessor fund since 2009. From 2000 to 2006, he worked at Lee Munder Capital Group as partner and portfolio manager for small and mid cap growth portfolios.Ken became a Principal and Founding Partner of LMCG in August 2000. Prior to LMCG, Ken was part of the Small Cap Growth team at Standish, Ayer & Wood. Prior to Standish, Ken was a technology analyst and principal at Needham & Company, Inc., where he initiated and led Needham’s Internet and Business Services Industry group as a sell-side analyst. Shaji John   (2013-05-01) Mr. John, a vice president, joined Amundi Pioneer in 2011 from JT Venture Partners, LLC where he was managing general partner from 2000 to 2011. Mr. John has served as portfolio manager in Pioneer since 2013. David Sobell   (2016-04-22) David Sobell, a Vice President and Senior Equity Analyst, joined Amundi Pioneer in 2000. Mr. Sobell has served as portfolio manager of the fund since April 2016. Timothy P. Stanish   (2023-11-14) Mr. Stanish joined Amundi Pioneer in 2018. Prior to joining Amundi Pioneer, he was at EVA Dimensions LLC, where he served as Managing Director and Global Head of Fundamental Research from 2015 to 2018 and as a Senior Equity Analyst from 2012 to 2015. Investment Advisor(s) Amundi Asset Management US, Inc. Issuer Amundi US Subadvisor(s) ---

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