Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Fidelity VIP Growth & Income Initial 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 1293 Large Blend Funds Morningstar® Style Box™ What is this? As of 2024-02-29 Total Fund Assets ($ Mil) 2,356.67 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks high total return through a combination of current income and capital appreciation. The fund normally invests a majority of assets in common stocks with a focus on those that pay current dividends and show potential for capital appreciation. It potentially invests in bonds, including lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds), as well as stocks that are not currently paying dividends, but offer prospects for future income or capital appreciation. The fund invests in domestic and foreign issuers.

Morningstar Category: Large Blend Large-blend portfolios are fairly representative of the overall US stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the US equity market are defined as large cap. The blend style is assigned to portfolios where neither growth nor value characteristics predominate. These portfolios tend to invest across the spectrum of US industries, and owing to their broad exposure, the portfolios' returns are often similar to those of the S&P 500 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 85.4 Non-U.S. Stocks 12.6 Bonds 0.0 Cash 1.8 Other 0.3 Data through 2024-02-29 Morningstar Equity Sectors % of Stocks Cyclical 25.74 Basic Materials 1.72 Consumer Cyclical 2.80 Financial Services 19.34 Real Estate 1.88 Sensitive 53.45 Communication Services 3.85 Energy 9.51 Industrials 16.56 Technology 23.53 Defensive 20.80 Consumer Defensive 5.73 Healthcare 12.96 Utilities 2.11 Data through 2024-02-29 Holding Status Total Number of Stock Holdings 180 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 40.97 Turnover % (as of 2023-12-31) 15.00 30 Day SEC Yield % --- Top Holdings Sector P/E % of Net Assets Microsoft Corp 38.04 8.99 Exxon Mobil Corp 13.08 6.56 Wells Fargo & Co 12.00 6.45 General Electric Co 22.00 5.28 Apple Inc 26.67 2.68 NVIDIA Corp 75.74 2.67 Bank of America Corp 12.31 2.62 Visa Inc Class A 32.15 2.12 UnitedHealth Group Inc 20.73 1.88 Boeing Co --- 1.72 Data through 2024-02-29

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Growth Investing, Value Investing, Issuer, Interest Rate, Market/Market Volatility, Equity Securities Show Risk Definitions

Other Information Inception Date: 1996-12-31 Portfolio Manager(s) Matthew W. Fruhan   (2011-02-04) Fruhan is a portfolio manager with Fidelity Investments. He joined the firm in 1995 as an equity research associate following the specialty retail, automotive supply and transportation industries. 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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