Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Fidelity VIP Financials Portfolio Initl 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 96 Financial Funds Morningstar® Style Box™ What is this? As of 2024-02-29 Total Fund Assets ($ Mil) 218.95 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks capital appreciation. The fund primarily invests in common stocks. It normally invests at least 80% of assets in securities of companies principally engaged in providing financial services to consumers and industry. The fund invests in domestic and foreign issuers. 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. The fund is non-diversified.

Morningstar Category: Financial Financial portfolios seek capital appreciation by investing primarily in equity securities of U.S. or non-U.S. financial-services companies, including banks, brokerage firms, insurance companies, and consumer credit providers.

Investment Risks Sector Funds: Funds that invest exclusively in one sector or industry involve risks due to the lack of industry diversification and expose the investor to increased industry-specific risks. Non-Diversified Funds: Funds that invest more of their assets in a single issuer involve additional risks, including share price fluctuations, because of the increased concentration of investments.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 91.1 Non-U.S. Stocks 8.3 Bonds 0.0 Cash 0.7 Other 0.0 Data through 2024-02-29 Morningstar Equity Sectors % of Stocks Cyclical 95.79 Basic Materials 0.00 Consumer Cyclical 0.61 Financial Services 95.18 Real Estate 0.00 Sensitive 4.21 Communication Services 0.00 Energy 0.00 Industrials 1.27 Technology 2.94 Defensive 0.00 Consumer Defensive 0.00 Healthcare 0.00 Utilities 0.00 Data through 2024-02-29 Holding Status Total Number of Stock Holdings 66 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 43.04 Turnover % (as of 2023-12-31) 56.00 30 Day SEC Yield % --- Top Holdings Sector P/E % of Net Assets Mastercard Inc Class A 40.71 10.02 Wells Fargo & Co 12.00 8.15 Bank of America Corp 12.31 5.77 Reinsurance Group of America Inc 14.35 3.78 Chubb Ltd --- 3.24 Citigroup Inc 15.65 2.90 Apollo Global Management Inc Class A 13.58 2.52 Morgan Stanley 18.18 2.36 Marsh & McLennan Companies Inc 27.35 2.19 Moody's Corporation 45.02 2.11 Data through 2024-02-29

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Nondiversification, Issuer, Market/Market Volatility, Equity Securities, Financials Sector Show Risk Definitions

Other Information Inception Date: 2001-07-18 Portfolio Manager(s) Matt Reed   (2019-06-01) Since joining Fidelity Investments in 2008, Mr. Reed has worked as a research analyst and portfolio manager. 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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