Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print American Century VP Inflation Prot I Release date as of 2022-05-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2022-05-31 Out of 200 Inflation-Protected Bond Funds Morningstar® Style Box™ What is this? As of 2022-03-31 Total Fund Assets ($ Mil) 751.8 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks long-term total return using a strategy that seeks to protect against U.S. inflation. The fund invests substantially all of its assets in investment-grade debt securities. To help protect against U.S. inflation, under normal conditions the fund will invest over 50% of its assets in inflation-indexed debt securities. It also may invest in debt securities that are not inflation-indexed. The fund also may invest in derivative instruments, provided that such investments are in keeping with the fund's investment objective.

Morningstar Category: Inflation-Protected Bond Inflation-protected bond portfolios invest primarily in debt securities that adjust their principal values in line with the rate of inflation. These bonds can be issued by any organization, but the U.S. Treasury is currently the largest issuer for these types of securities.

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 0.0 Non-U.S. Stocks 0.0 Bonds 94.2 Cash 4.0 Other 1.8 Total 100.0 Data through 2022-03-31 Morningstar Fixed-Income Sectors % Fund Government 66.95 Corporate 13.54 Securitized 14.30 Municipal 0.09 Cash & Equivalents 5.12 Other 0.00 Data through 2022-03-31 Credit Analysis % Bonds AAA 61.53 AA 3.22 A 10.66 BBB 15.31 BB 0.16 B 0.00 Below B 0.00 Not Rated 9.13 Data through 2022-03-31 Holding Status Total Number of Stock Holdings 0 Total Number of Bond Holdings 297 % of Net Assets in Top 10 Holdings 27.24 Turnover % (as of 2021-12-31) 64.00 30 Day SEC Yield % 9.26 Top Holdings Maturity Date Shares Value $000 % of Net Assets United States Treasury Notes 0.125% 2030-01-15 24,587 25,972 3.43 United States Treasury Notes 0.125% 2025-10-15 21,942 23,007 3.04 United States Treasury Notes 0.625% 2026-01-15 21,476 22,903 3.02 United States Treasury Notes 0.125% 2031-01-15 20,413 21,621 2.86 United States Treasury Bonds 0.625% 2043-02-15 17,831 19,918 2.63 United States Treasury Notes 0.125% 2031-07-15 17,833 18,983 2.51 United States Treasury Notes 0.5% 2028-01-15 17,724 18,969 2.51 United States Treasury Bonds 0.75% 2045-02-15 16,417 18,867 2.49 United States Treasury Bonds 2% 2026-01-15 16,470 18,461 2.44 United States Treasury Notes 0.125% 2030-07-15 16,448 17,457 2.31 Data through 2022-03-31

Principal Risks    Credit and Counterparty, Extension, Inflation/Deflation, Prepayment (Call), Foreign Securities, Loss of Money, Not FDIC Insured, Interest Rate, Market/Market Volatility, Bank Loans, Restricted/Illiquid Securities, Derivatives, Shareholder Activity, Structured Products Show Risk Definitions

Other Information Inception Date: 2004-05-07 Portfolio Manager(s) James E. Platz   (2007-09-28) Platz is vice president and a senior portfolio manager with American Century, his employer since October 2003. Prior to joining American Century, Platz was a vice president, senior portfolio manager for Standish Mellon Asset Management, formerly Certus Asset Advisors, since August 1995. He received a bachelor’s degree in history and political economies of industrial societies from the University of California – Berkeley, and an MBA from the University of Southern California. He is a CFA charterholder. Robert V. Gahagan   (2002-12-31) Mr. Gahagan, Senior Vice President and Senior Portfolio Manager, joined American Century Investments in 1983.  He became a portfolio manager in 1991. He has a bachelor’s degree in economics and an MBA from the University of Missouri – Kansas City. Miguel Castillo   (2015-05-01) Miguel Castillo, Portfolio Manager, has served on teams managing fixed-income investments since joining the American Century Investments in 2008 as a senior fixed income trader. He was promoted to portfolio manager in 2014. He has a bachelor’s degree in banking and finance from Escuela Bancaria Y Comercial, Mexico City, and an MBA from the University of Minnesota. Investment Advisor(s) American Century Investment Management Inc Issuer American Century Investments Subadvisor(s) ---

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