Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print DWS Global Small Cap VIP B Release date as of 2023-04-30. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2023-04-30 Out of 136 Global Small/Mid Stock Funds Morningstar® Style Box™ What is this? As of 2023-03-31 Total Fund Assets ($ Mil) 58.85 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks above-average capital appreciation over the long term. The fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in common stocks and other equities of small companies throughout the world (companies with market values similar to the smallest 30% of the aggregate market capitalization of the S&P Developed Broad Market Index). While the fund may invest in securities of any country, portfolio management generally focuses on countries with developed economies (including the U.S.).

Morningstar Category: Global Small/Mid Stock Global small/mid stock portfolios invest in a variety of international stocks that are smaller. Global-stock portfolios have few geographical limitations. It is common for these portfolios to invest the majority of their assets in developed markets, with the remainder divided among the globe’s smaller markets. These portfolios are not significantly overweight U.S. equity exposure relative to the Morningstar Global Market Index and maintain at least a 20% absolute U.S. exposure.

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 60.3 Non-U.S. Stocks 39.3 Bonds 0.0 Cash 0.3 Other 0.0 Data through 2023-03-31 Morningstar Equity Sectors % of Stocks Cyclical 41.17 Basic Materials 7.45 Consumer Cyclical 13.67 Financial Services 12.13 Real Estate 7.92 Sensitive 39.82 Communication Services 3.72 Energy 3.69 Industrials 18.09 Technology 14.32 Defensive 19.01 Consumer Defensive 4.98 Healthcare 11.29 Utilities 2.74 Data through 2023-03-31 Morningstar World Regions % Fund Americas 62.1 North America 61.5 Latin America 0.6 Greater Europe 24.3 United Kingdom 8.2 Europe Developed 16.1 Europe Emerging 0.0 Africa/Middle East 0.0 Greater Asia 13.6 Japan 6.4 Australasia 3.3 Asia Developed 3.3 Asia Emerging 0.6 Data through 2023-03-31 Holding Status Total Number of Stock Holdings 130 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 19.67 Turnover % (as of 2022-12-31) 27.00 30 Day SEC Yield % 0.00 Top Holdings Sector Country % of Net Assets Builders FirstSource Inc United States 2.70 Rush Enterprises Inc Class A United States 2.44 Buzzi Unicem SpA Italy 2.12 TopBuild Corp United States 2.02 Casey's General Stores Inc United States 1.91 Aixtron SE Germany 1.80 Thermon Group Holdings Inc United States 1.72 Jefferies Financial Group Inc United States 1.72 Molina Healthcare Inc United States 1.70 SouthState Corp United States 1.54 Data through 2023-03-31

Principal Risks    Lending, Credit and Counterparty, Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Quantitative Investing, Market/Market Volatility, Equity Securities, Restricted/Illiquid Securities, Derivatives, Pricing, Management, Small Cap Show Risk Definitions

Other Information Inception Date: 1997-05-02 Portfolio Manager(s) Pankaj Bhatnagar   (2021-02-01) Pankaj Bhatnagar, PhD, Head of Investment Strategy Equity. ■Joined DWS in 2000 with seven years of industry experience; previously, served in Quantitative Strategy roles at Nomura Securities, Credit Suisse and Salomon Brothers. ■Head of Core Equity and Head of Systematic and Quantitative Management: Americas. ■Degree in Civil Engineering, Indian Institute of Technology; MBA, Kent State University; PhD in Finance, University of North Carolina at Chapel Hill. Peter M. Barsa   (2018-04-19) - Portfolio Manager and Equity Research Analyst for Small and Mid Cap Equities: New York - Joined the Company in 1999, equity research analyst covering consumer discretionary and consumer staples and global small cap equity research generalist. - BS in Finance, Villanova University Investment Advisor(s) DWS Investment Management Americas, Inc. Issuer DWS Subadvisor(s) ---

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