Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp.

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1 Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Annual Management Report of Fund Performance November 3,

2 Caution Regarding Forward-looking Statements Certain portions of this report, including, but not limited to, Results of Operations and Recent Developments, may contain forward-looking statements about the Fund, including its strategy, risks, expected performance and condition. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as expects, anticipates, intends, plans, believes, estimates and similar forward-looking expressions or negative versions thereof. In addition, any statement that may be made concerning future performance, strategies or prospects, and possible future Fund action, is also a forward-looking statement. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about the Fund and economic factors. Accordingly, assumptions concerning future economic and other factors may prove to be incorrect at a future date. Forward-looking statements are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied in any forward-looking statements made by the Fund. Any number of important factors could contribute to these digressions, including, but not limited to, general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, technological change, changes in government regulations, unexpected judicial or regulatory proceedings, and catastrophic events. It should be stressed that the above-mentioned list of important factors is not exhaustive. You are encouraged to consider these and other factors carefully before making any investment decisions and you are urged to avoid placing undue reliance on forward-looking statements. Further, you should be aware of the fact that the Fund has no specific intention of updating any forward-looking statements whether as a result of new information, future events or otherwise, prior to the release of the next Management Report of Fund Performance.

3 Annual Management Report of Fund Performance as at November 3, Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. This annual management report of fund performance contains financial highlights but does not contain the complete annual financial statements for the investment fund. You can get a copy of the annual financial statements at your request, and at no cost, by calling , by writing to us at Fidelity Investments, 483 Bay St. Suite 3, Toronto ON M5G 2N7 or by visiting our website at or SEDAR at Securityholders may also contact us using one of these methods to request a copy of the investment fund s proxy voting policies and procedures, proxy voting disclosure record or quarterly portfolio disclosure relating to the investment fund. Management Discussion of Fund Performance Investment Objective and Strategies Investment Objective: Fidelity Canadian Equity Private Pool (Fund) aims to seek long-term capital appreciation and seeks a return similar to that of its underlying fund, Fidelity Canadian Equity Investment Trust, by investing substantially all of its assets in securities of the Underlying Fund. The Underlying Fund, which is also managed by Fidelity, seeks long-term capital appreciation by investing primarily in Canadian equities. Strategies: The Underlying Fund aims to invest in sectors in approximately the same proportions as those sectors are represented in the S&P/TSX Capped Composite Index. The Underlying Fund employs a bottom-up, fundamental investment strategy. The members of a team of analysts recommend investments for the Underlying Fund from among the companies in their designated industry groups. Their investment recommendations are based on a review of each company s management, financial conditions and potential for earnings growth over the long term. The lead portfolio manager is ultimately responsible for buying and selling securities in the Underlying Fund. The specific investments may or may not be included in the S&P/TSX Capped Composite Index. If the investment is not included in the Index, the portfolio manager will decide to which sector it belongs. The portfolio manager will regularly review the target allocations and rebalance them where appropriate. The Underlying Fund may invest in small, medium-sized and large companies. Risk The risks associated with investing in the Fund remain as discussed in the prospectus. The Fund is suitable for long-term investors who want to gain exposure to Canadian equity securities. To invest in the Fund, investors should be able to accept a medium level of risk. The suitability of the investment has not changed from what has been disclosed in the prospectus. Results of Operations Fidelity Canadian Equity Private Pool, Class B, returned -3.3%, after fees and expenses, for the one-year period ended November 3,. The net returns of the other series of the Fund are similar to those of Class B, except for differences attributable to expense structures. Canadian equities, as represented by S&P/TSX Composite Index, returned -2.5% for the same period. Market Overview: Canadian equities declined over the review period, weighed down by escalating trade tensions between the U.S. and China, volatile oil prices, and falling commodity prices. At a sector level, energy, materials and consumer discretionary stocks lagged most, while health care and information technology stocks gained. Limited progress on NAFTA renegotiations also prompted volatility during the period; however, a new deal was reached in September that alleviated concerns about an end to free trade in North America. The Canadian economy witnessed strong growth throughout the period, although the GDP growth rate declined slightly in the third quarter of to 2.% (annualized). The review period saw Canada s unemployment rate decline to levels not seen since before the 8 financial crisis. Factors affecting performance: The Fund underperformed its benchmark after fees and expenses; however, before fees and expenses it outperformed. The Underlying Fund s security selection in the financials sector contributed to relative performance. Larger-than-benchmark weighting in real estate investment trust (REIT) Canadian Apartment REIT, and diversified financial company Brookfield Asset, were among the primary contributors. Additionally, stock selection and a larger-than-benchmark allocation to the strongly performing information technology sector contributed to relative performance. Within this sector, investments in software services companies CGI Group and Constellation Software made the top contributions. In contrast, the Underlying Fund s holdings in the energy sector detracted from relative performance, led by overweight positions in oil & gas company PrairieSky Royalty, and Canadian Natural Resources. The Underlying Fund s lack of exposure to the health care sector also detracted from relative performance, as this sector rallied significantly during the review period. Portfolio changes: During the review period, lead portfolio manager Andrew Marchese kept sector weightings closely in line with those of the benchmark, with security selection driving incremental returns. While the Underlying Fund is neutrally positioned at the sector level, the portfolio can deviate from the benchmark s industry and company exposures. During the review period, the Underlying Fund s exposure to the food and staples retailing industry increased due to the addition of food retailer Metro Inc., based on attractive valuations. Exposure also increased to energy infrastructure company Enbridge, due to improving company fundamentals. In contrast, exposure to oil exploration and production companies in the energy sector was reduced as oil prices came under pressure. 1

4 Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Management Discussion of Fund Performance continued Recent Developments Lead portfolio manager Andrew Marchese continues to believe the Canadian and U.S. economies are in the late phase of the economic cycle, and that the current market environment supports active management and stock selection. He believes equity valuations could be challenged as growth in corporate profit margins across most industry sectors continues to face increasing headwinds. He is focused on attractively valued, high-quality investment opportunities that deliver lower cyclicality through durable earnings. He remains positive on the equity markets over the long term. Macroeconomic analysis will continue to be checked against company fundamentals, with a focus on adding value through strong stock picking and identifying companies with attractive growth potential, sound management and favourable risk/reward profiles. As at the end of November 3,, at the industry level, the Underlying Fund s largest absolute exposure was to the banking industry, followed by the energy industry. The Underlying Fund deviated most from its benchmark weightings by having overweight exposure to food and staples retailing, and underweight exposure to the banking industry. Related Party Transactions Manager and Portfolio Adviser The Fund is managed by Fidelity Investments Canada ULC (Fidelity). Fidelity is part of a broader collection of companies collectively known as Fidelity Investments. Fidelity provides or arranges for the provision of all general management and administrative services required by the Fund in its day to day operations, bookkeeping, record keeping and other administrative services for the Fund. Fidelity is the portfolio adviser to the Fund and it provides investment advisory services to the Fund. Fidelity provides investment advice with respect to the Fund s investment portfolio and arranges for the acquisition and disposition of portfolio investments, including all necessary brokerage arrangements. The Fund pays Fidelity a monthly management and advisory fee for their services, based on the net asset value of each Series, calculated daily and payable monthly. The Fund paid Fidelity management and advisory fees of $1,36, for the period ended November 3,. Administration Fee Fidelity charges the Fund a fixed administration fee in place of certain variable expenses. Fidelity, in turn, pays all of the operating expenses of the Fund, other than certain specified fund costs (e.g. the fees and expenses of the Independent Review Committee, taxes, brokerage commissions and interest charges). The Fund pays an annual rate, which is calculated on a tiered basis, based on the net asset value of each Series, calculated daily and payable monthly. The Fund paid Fidelity administration fees of $111, for the period ended November 3,. 2

5 Financial Highlights The following tables show selected key financial information about the Fund and are intended to help you understand the Fund s financial performance for the period end of the years shown. This information is derived from the Fund s audited annual and/or unaudited semi-annual financial statements. Please see the front page for information about how you can obtain the Fund s annual or semi-annual financial statements. Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Series B Net assets, beginning of period B $ $ $ $ 18.7 $ Total revenue Total expenses (excluding distributions) (.41) (.41) (.37) (.39) (.38) Realized gains (losses) Unrealized gains (losses) (1.9) (.69) 1.75 Total increase (decrease) from operations B (.62) From dividends (.6) (.42) (.38) (.46) (.55) Return of capital Total distributions B,C (.6) (.42) (.38) (.46) (.55) Net assets, end of period B $ $ $ $ $ 18.7 Net asset value (s) D $ 26,87 $ 34,222 $ 36,63 $ 38,598 $ 42,617 Securities outstanding D 1,444,51 1,722,384 1,941,71 2,184,632 2,358,161 Management expense ratio E 2.% 2.9% 2.9% 2.9% 2.% Management expense ratio before waivers or absorptions E 2.% 2.9% 2.9% 2.9% 2.% Net asset value per security, end of period $ $ $ $ $ Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Series F Net assets, beginning of period B $ $ 14.5 $ $ 13.6 $ Total revenue Total expenses (excluding distributions) (.16) (.15) (.14) (.14) (.14) Realized gains (losses) Unrealized gains (losses) (1.47) (.63) 1.34 Total increase (decrease) from operations B (.35) From dividends (.47) (.33) (.29) (.35) (.41) Return of capital Total distributions B,C (.47) (.33) (.29) (.35) (.41) Net assets, end of period B $ $ $ 14.5 $ $ 13.6 Net asset value (s) D $ 23,436 $ 24,34 $ 17,927 $ 12,883 $ 8,744 Securities outstanding D 1,62,853 1,573,459 1,236, , ,95 Management expense ratio E 1.2% 1.2% 1.2% 1.2% 1.2% Management expense ratio before waivers or absorptions E 1.2% 1.2% 1.2% 1.2% 1.2% Net asset value per security, end of period $ $ $ $ $

6 Financial Highlights continued Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Series F5 Net assets, beginning of period B $.63 $.35 $ $ 21.7 $ Total revenue Total expenses (excluding distributions) (.) (.21) (.) (.21) (.22) Realized gains (losses) Unrealized gains (losses) (1.81) (.8) 1.59 Total increase (decrease) from operations B (.38) From dividends (.6) (.44) (.42) (.52) (.64) Return of capital (1.2) (1.2) (1.2) (1.2) (1.2) Total distributions B,C (1.62) (1.46) (1.44) (1.54) (1.66) Net assets, end of period B $ $.63 $.35 $ $ 21.7 Net asset value (s) D $ 1,529 $ 1,814 $ 1,737 $ 23 $ 238 Securities outstanding D 82,73 88,198 85,62 11,65 11,33 Management expense ratio E 1.3% 1.2%.98%.97% 1.2% Management expense ratio before waivers or absorptions E 1.3% 1.2%.98%.97% 1.2% Net asset value per security, end of period $ $.6265 $.3492 $ $ Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Series F8 Net assets, beginning of period B $ $ $ $ $ Total revenue Total expenses (excluding distributions) (.14) (.16) (.16) (.18) (.19) Realized gains (losses) Unrealized gains (losses) (1.).75 (.12) (.64) 1.58 Total increase (decrease) from operations B From dividends (.44) (.33) (.32) (.41) (.53) Return of capital (1.) (1.) (1.24) (1.62) (1.62) Total distributions B,C (1.64) (1.53) (1.56) (2.3) (2.15) Net assets, end of period B $ 13.4 $ $ $ $ Net asset value (s) D $ 332 $ 1,885 $ 497 $ 1,384 $ 1,513 Securities outstanding D 24, ,735 31,872 88,393 86,816 Management expense ratio E.97% 1.3% 1.3% 1.2% 1.3% Management expense ratio before waivers or absorptions E.97% 1.3% 1.3% 1.2% 1.3% Net asset value per security, end of period $ $ $ $ $

7 Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Series I Net assets, beginning of period B $ 19.6 $ $ $ $ Total revenue Total expenses (excluding distributions) (.42) (.45) (.43) (.44) (.43) Realized gains (losses) Unrealized gains (losses) (1.99).77.9 (.63) 1.74 Total increase (decrease) from operations B (.72) From dividends (.6) (.42) (.38) (.45) (.54) Return of capital Total distributions B,C (.6) (.42) (.38) (.45) (.54) Net assets, end of period B $ $ 19.6 $ $ $ Net asset value (s) D $ 7,4 $ 9,77 $,16 $ 9,249 $ 12,698 Securities outstanding D 44, , , ,868 75,928 Management expense ratio E 2.16% 2.35% 2.42% 2.41% 2.4% Management expense ratio before waivers or absorptions E 2.16% 2.35% 2.42% 2.41% 2.4% Net asset value per security, end of period $ $ $ $ $ Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Series I5 Net assets, beginning of period B $ $ $ $ $ Total revenue Total expenses (excluding distributions) (.48) (.55) (.55) (.6) (.62) Realized gains (losses) Unrealized gains (losses) (2.35) (1.) 2.62 Total increase (decrease) from operations B (.8) From dividends (.72) (.53) (.51) (.64) (.81) Return of capital (1.37) (1.37) (1.37) (1.37) (1.37) Total distributions B,C (2.9) (1.9) (1.88) (2.1) (2.18) Net assets, end of period B $ 22.1 $ $ $ $ Net asset value (s) D $ 196 $ 218 $ 178 $ 173 $ 181 Securities outstanding D 8,91 8,76 7,137 6,974 6,777 Management expense ratio E 2.% 2.18% 2.26% 2.26% 2.27% Management expense ratio before waivers or absorptions E 2.% 2.18% 2.26% 2.26% 2.27% Net asset value per security, end of period $ $ $ $ $

8 Financial Highlights continued Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Series I8 Net assets, beginning of period B $ $ $ 19.7 $ $ Total revenue Total expenses (excluding distributions) (.33) (.44) (.43) (.5) (.54) Realized gains (losses) Unrealized gains (losses) (1.76).8.87 (2.29) 2.62 Total increase (decrease) from operations B (.57) (.85) 3.27 From dividends (.53) (.4) (.4) (.51) (.67) Return of capital (1.51) (1.51) (1.55) (1.98) (1.98) Total distributions B,C (2.4) (1.91) (1.95) (2.49) (2.65) Net assets, end of period B $ $ $ $ 19.7 $ Net asset value (s) D $ 1 $ 1 $ 1 $ 137 $ 378 Securities outstanding D ,944 17,75 Management expense ratio E 1.9% 2.21% 2.27% 2.34% 2.38% Management expense ratio before waivers or absorptions E 1.9% 2.21% 2.27% 2.34% 2.38% Net asset value per security, end of period $ $ $ $ $ Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Series S5 Net assets, beginning of period B $ $ 25.3 $ $ $ Total revenue Total expenses (excluding distributions) (.52) (.55) (.53) (.57) (.58) Realized gains (losses) Unrealized gains (losses) (2.42) (.96) 2.69 Total increase (decrease) from operations B (.86) From dividends (.72) (.53) (.51) (.65) (.81) Return of capital (1.37) (1.37) (1.37) (1.37) (1.37) Total distributions B,C (2.9) (1.9) (1.88) (2.1) (2.18) Net assets, end of period B $ 22.6 $ $ 25.3 $ $ Net asset value (s) D $ 6,776 $ 8,13 $ 7,864 $ 7,97 $ 8,791 Securities outstanding D 37, ,33 314, ,6 328,781 Management expense ratio E 2.18% 2.18% 2.16% 2.15% 2.15% Management expense ratio before waivers or absorptions E 2.18% 2.18% 2.16% 2.15% 2.15% Net asset value per security, end of period $ $ $ $ $

9 Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Series S8 Net assets, beginning of period B $ $ $ 19.8 $ $ 22.1 Total revenue Total expenses (excluding distributions) (.37) (.42) (.41) (.47) (.49) Realized gains (losses) Unrealized gains (losses) (2.4) (.26) 2.35 Total increase (decrease) from operations B (1.53) From dividends (.53) (.41) (.4) (.52) (.68) Return of capital (1.52) (1.52) (1.56) (1.99) (1.99) Total distributions B,C (2.5) (1.93) (1.96) (2.51) (2.67) Net assets, end of period B $ $ $ $ 19.8 $ Net asset value (s) D $ 1,398 $ 545 $ 281 $ 376 $ 929 Securities outstanding D 85,758 28,89 14,59 19,4 41,816 Management expense ratio E 2.9% 2.19% 2.16% 2.15% 2.12% Management expense ratio before waivers or absorptions E 2.9% 2.19% 2.16% 2.15% 2.12% Net asset value per security, end of period $ $ $ $ $

10 Financial Highlights continued Financial Highlights Footnotes A B C D E F G This information is derived from the Fund s audited annual and/or unaudited interim financial statements. Periods beginning on or after January 1, follow International Financial Reporting Standards (IFRS) and periods prior to January 1, follow Canadian Generally Accepted Accounting Principles (Canadian GAAP). The net assets attributable to securityholders per security presented in the financial statements may differ from the net asset value calculated for fund pricing purposes. An explanation of these differences can be found in the notes to financial statements. For reporting periods ending after January 1, per security comparative figures (except for net asset value per security, end of period) have been conformed to the current rounding presentation of two decimal places. As a result, reporting periods ending prior to January 1, may not foot due to this rounding change. Net assets and distributions are based on the actual number of securities outstanding at the relevant time. The increase (decrease) from operations is based on the weighted average number of securities outstanding over the financial period. This table is not intended to be a reconciliation of beginning to ending net assets per security. Distributions were paid in cash or reinvested in additional securities of the Fund, or both, and excludes any applicable distributions of management fee reduction to securityholders. This information is provided as at period end of the year shown. Management expense ratio is based on total expenses (excluding distributions, commissions and other portfolio transaction costs) for the stated period and is expressed as an annualized percentage of daily average net asset values during the period, including the Fund s pro-rata share of estimated expenses incurred in any underlying investment fund, if applicable. The trading expense ratio represents total commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net asset value during the period, including the Fund s pro-rata share of estimated trading costs incurred in any underlying investment fund, if applicable. The Fund s portfolio turnover rate indicates how actively the Fund s portfolio adviser manages its portfolio investments. A portfolio turnover rate of % is equivalent to the Fund buying and selling all of the securities in its portfolio once in the course of the year. The higher the Fund s portfolio turnover rate in a year, the greater the trading costs payable by the Fund in the year, and the greater chance of an investor receiving taxable capital gains in the year. There is not necessarily a relationship between a high portfolio turnover rate and the performance of the Fund. The portfolio turnover rate is calculated based on the lesser of purchases or sales of securities divided by the weighted average market value of the portfolio securities, excluding short-term securities. For periods greater than six months, but less than a full fiscal year, the portfolio turnover rate is annualized. 8

11 Management and Advisory Fees Fidelity serves as manager of the Fund. The Fund pays Fidelity a monthly management fee for its services, based on the net asset value of each Series, calculated daily and payable monthly. Fidelity uses these management fees to pay for sales and trailing commissions to registered dealers on the distribution of the Fund securities, as well as for general investment management expenses. Dealer compensation represents cash commissions paid by Fidelity to registered dealers during the period and includes upfront deferred sales charge and trailing commissions. This amount may, in certain circumstances, exceed % of the fees earned by Fidelity during the period. For new Funds or Series the amounts presented may not be indicative of longer term operating periods. Management Fees Dealer Compensation Investment management, administration and other Series B 1.75% 57.14% 42.86% Series F.75%.% Series F5.75%.% Series F8.75%.% Series I 1.75% 57.14% 42.86% Series I5 1.75% 57.14% 42.86% Series I8 1.75% 57.14% 42.86% Series S5 1.75% 57.14% 42.86% Series S8 1.75% 57.14% 42.86% 9

12 Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Past Performance The performance information shown assumes that all distributions made by the Fund in the periods shown were reinvested in additional securities of the Fund. The performance information does not take into account sales, redemption, distribution or other optional charges that would have reduced returns or performance. How the Fund has performed in the past does not necessarily indicate how it will perform in the future. Year-by-Year Returns The following bar chart shows the Fund s annual performance for each of the years shown, and illustrates how the Fund s performance was changed from year to year. In percentage terms, the bar chart shows how much an investment made on the first day of each financial year would have grown or decreased by the last day of each financial year. Series B Series F Series F Commencement of Operations is October 5, Series I Commencement of Operations is October 5, - Series F5 Series I Commencement of Operations is October 5,

13 Series I8 Series S Series S Annual Compound Returns This table shows the Fund s historical annual compound total returns for the periods indicated, compared with its broad-based index, the S&P/TSX Composite Index, and the Fund s benchmark, the S&P/TSX Capped Composite Index, as described below. Average Annual Total Returns Series B (3.3)% 4.3% 5.2% 7.8% n/a Series F (2.2)% 5.4% 6.4% n/a 7.% Series F5 (2.2)% 5.4% 6.4% n/a 7.% Series F8 (2.2)% 5.4% 6.4% n/a 7.% Series I (3.3)% 4.% 4.9% 7.6% n/a Series I5 (3.2)% 4.2% 5.1% 7.7% n/a Series I8 (3.1)% 4.3% 5.1% 7.6% n/a Series S5 (3.3)% 4.2% 5.1% 7.8% n/a Series S8 (3.3)% 4.2% 5.2% 7.8% n/a S&P/TSX Capped Composite Index (2.5)% 7.2% 5.6% 8.2% 6.5% S&P/TSX Composite Index (2.5)% 7.2% 5.6% 8.2% 6.5% A discussion of the performance of the fund can be found in the Results of Operations section of this report. The S&P/TSX Composite Index is an index of stocks generally considered to represent the Canadian equity market. The S&P/TSX Capped Composite Index is the same as the S&P/TSX Composite Index except that it is adjusted quarterly so that no single stock has a relative weight in the Index greater than.%. Each Series will have different returns because of differences in management fees and expenses. Past 1 year Past 3 years Past 5 years Past years Since Inception 11

14 Fidelity Canadian Equity Private Pool of the Fidelity Capital Structure Corp. Summary of Investment Portfolio as at November 3, Sector Mix % of Fund s Net Assets as at 11/3/18 % of Fund s Net Assets as at 11/3/17 Financials Energy Materials Industrials Communication Services Information Technology Consumer Staples Utilities Consumer Discretionary Real Estate Cash and Cash Equivalents Net Other Assets (Liabilities).5 (.3) Top Issuers % of Fund s Net Assets 1. The Toronto-Dominion Bank Royal Bank of Canada Suncor Energy, Inc Brookfield Asset Management, Inc Canadian National Railway Co Enbridge, Inc Canadian Natural Resources Ltd CGI Group, Inc Alimentation Couche-Tard, Inc Sun Life Financial, Inc Rogers Communications, Inc Intact Financial Corp Canadian Pacific Railway Ltd Nutrien Ltd Fidelity Canadian Money Market Investment Trust Series O Franco-Nevada Corp CCL Industries, Inc Canadian Apartment Properties (REIT) Constellation Software, Inc Onex Corp Fortis, Inc Great-West Lifeco, Inc Pembina Pipeline Corp Metro, Inc Quebecor, Inc Total Fund Net Assets $67,976, Where applicable, the information in the above tables includes the Fund s pro-rata share of the investment in any Fidelity managed underlying fund. The summary of investment portfolio may change due to ongoing portfolio transactions of the investment fund. The most recent annual report, semi-annual report, quarterly report, fund facts document or simplified prospectus for the investment fund and/or underlying fund is available at no cost, by calling , by writing to us at Fidelity Investments Canada ULC, 483 Bay St. Suite 3, Toronto ON M5G 2N7 or by visiting our web site at or SEDAR at 12

15

16 Fidelity Capital Structure Corp. 47 2nd Street S.W., Suite 8 Calgary, Alberta T2P 2Y3 Manager and Registrar Fidelity Investments Canada ULC 483 Bay Street, Suite 3 Toronto, Ontario M5G 2N7 Custodian State Street Trust Company of Canada Toronto, Ontario Visit us online at or call Fidelity Client Services at Fidelity s mutual funds are sold by registered Investment Professionals. Each Fund has a simplified prospectus, which contains important information on the Fund, including its investment objective, purchase options, and applicable charges. Please obtain a copy of the prospectus, read it carefully, and consult your Investment Professional before investing. As with any investment, there are risks to investing in mutual funds. There is no assurance that any Fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investors may experience a gain or loss when they sell their securities in any Fidelity Fund. Fidelity Global Funds may be more volatile than other Fidelity Funds as they concentrate investments in one sector and in fewer issuers; no single Fund is intended to be a complete diversified investment program. Past performance is no assurance or indicator of future returns. There is no assurance that either Fidelity Canadian Money Market Fund, Fidelity U.S. Money Market Fund or Fidelity U.S. Money Market Investment Trust will be able to maintain its net asset value at a constant amount. The breakdown of Fund investments is presented to illustrate the way in which a Fund may invest, and may not be representative of a Fund s current or future investments. A Fund s investments may change at any time. Fidelity Investments is a registered trademark of Fidelity Investments Canada ULC E FICL-CEP-CS-MRFPA-219

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