FOR PLAN SPONSOR AND INVESTMENT PROFESSIONAL USE ONLY.

¹The Managed Retirement Funds are subject to the volatility of the financial markets, including that of equity and fixed income investments in the United States and abroad, and may be subject to risks associated with investing in high-yield, small-cap, commodity-linked, and foreign securities. Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly. No Managed Retirement Fund is considered a complete retirement program, and there is no guarantee that any single fund will provide sufficient retirement income at or through retirement. Principal invested is not guaranteed at any time, including at or after the funds’ target dates. The fund is designed primarily for investors who seek to convert accumulated assets into regular withdrawals over time. As with any mutual fund, withdrawals will reduce the investment balance, and future returns are not earned on amounts withdrawn.

²Payments from the Managed Cash Flow withdrawal option will vary year over year, may constitute a return of an investor’s capital, and may increase or decrease depending on the yearly withdrawal rate and a customer’s account value. No target level of remainder assets is guaranteed.

Investment decisions should be based on an individual’s own goals, time horizon, and tolerance for risk.

FOR PLAN SPONSOR AND INVESTMENT PROFESSIONAL USE ONLY.

Before investing in any mutual fund, consider the investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917

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