BOWDOIN COLLEGE 403(B) PLAN INVESTMENT OPTIONS PERFORMANCE UPDATE

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1 BOWDOIN COLLEGE 40(B) PLAN INVESTMENT OPTIONS PERFORMANCE UPDATE UNDERSTANDING INVESTMENT PERFORMANCE As you review this update, please remember that the performance data stated represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance stated. To learn more or to obtain the most recent month-end performance, call Fidelity at or visit (log in, choose plan, select "Investment Choices & Research," and then pick investment option). Month YTD 1 5 TARGET DATE FSNJX Fidelity Freedom Class K 1,50, /06/0 n/a 0.40 FSNKX Fidelity Freedom 20 - Class K 1,50, /17/96 n/a FSNLX Fidelity Freedom Class K 1,50, /06/0 n/a FSNOX Fidelity Freedom Class K 1,50, /17/96 n/a FSNPX Fidelity Freedom Class K 1,50, /06/0 n/a FSNQX Fidelity Freedom Class K 1,50, /17/96 n/a 0.6 FSNUX Fidelity Freedom Class K 1,50, /06/0 n/a FSNVX Fidelity Freedom Class K 1,50, /06/00 n/a FSNZX Fidelity Freedom Class K 1,50, /01/06 n/a FNSBX Fidelity Freedom Class K 1,50, /01/06 n/a FNSDX Fidelity Freedom Class K 1,50, n/a /01/11 n/a FNSFX Fidelity Freedom Class K 1,50, n/a n/a /05/14 n/a FNSHX Fidelity Freedom Income - Class K 1,50, /17/96 n/a TARGET ALLOCATION FASIX Fidelity Asset Manager 20% /01/92 n/a 0.50 FTANX Fidelity Asset Manager 0% /09/07 n/a FFANX Fidelity Asset Manager 40% /09/07 n/a FASMX Fidelity Asset Manager 50% /28/88 n/a FSANX Fidelity Asset Manager 60% /09/07 n/a FASGX Fidelity Asset Manager 70% /0/91 n/a 0.7 FAMRX Fidelity Asset Manager 85% /24/99 n/a 0.70 MONEY MARKET - GOVERNMENT UTIXX Federated U.S. Treasury Cash Reserves Institutional Shares 52 7-Day Yield % as of 12/1/2018: /11/91 n/a FDRXX Fidelity Government Cash Reserves 2,5 7-Day Yield % as of 12/1/2018: //79 n/a 0.70 The current yield reflects the current earnings of the fund, while the total return refers to a specific past holding period. 1

2 Month YTD 1 5 MONEY MARKET - GOVERNMENT (continued) SPAXX Fidelity Government Money Market,5 7-Day Yield % as of 12/1/2018: 2.02 FZCXX Fidelity Government Money Market - Premium Class,4,5 7-Day Yield % as of 12/1/2018: 2.12 FZFXX Fidelity Treasury Money Market,5,5 7-Day Yield % as of 12/1/2018: 2.01 FDLXX Fidelity Treasury Only Money Market 5 7-Day Yield % as of 12/1/2018: 1.99 BOND /05/90 n/a /05/90 n/a /1/8 n/a /05/88 n/a FGBFX Fidelity Global Credit, n/a /22/12 n/a 1.00 FNMIX Fidelity New Markets Income /04/9 n/a BOND - GOVERNMENT ABTIX American Century Government Bond R /16/80 n/a Class 6,54 FGMNX Fidelity GNMA /08/85 n/a FGOVX Fidelity Government Income /04/79 n/a FSTGX FUAMX Fidelity Intermediate Government Income 54 Fidelity Intermediate Treasury Bond Index 7,8, /02/88 n/a /20/05 n/a 0.00 FFXSX Fidelity Limited Term Government //86 n/a FNBGX FUMBX Fidelity Long-Term Treasury Bond Index 7,9,54 Fidelity Treasury Bond Index 7,, /20/05 n/a /20/05 n/a 0.00 BOND - DIVERSIFIED FCONX Fidelity Conservative Income Bond, n/a 0.8 /0/11 n/a FCBFX Fidelity Corporate Bond n/a /04/ n/a FTHRX Fidelity Intermediate Bond /2/75 n/a FBNDX Fidelity Investment Grade Bond /06/71 n/a FJRLX Fidelity Limited Term Bond 11,12, /02/84 n/a FMSFX Fidelity Mortgage Securities /1/84 n/a FSHBX Fidelity Bond /15/86 n/a FNSOX Fidelity Bond Index 1, n/a n/a n/a 0.7 /18/17 n/a 0.00 FADMX Fidelity Strategic Income /1/94 n/a FNDSX Fidelity Sustainability Bond Index 14, n/a n/a n/a n/a /19/18 n/a 0.0 FTBFX Fidelity Total Bond /15/02 n/a The current yield reflects the current earnings of the fund, while the total return refers to a specific past holding period. 2

3 BOND - DIVERSIFIED (continued) Month YTD 1 5 FXNAX Fidelity U.S. Bond Index 15,16, /08/90 n/a PTTRX PIMCO Total Return Institutional Class /11/87 n/a BOND - INFLATION-PROTECTED FIPDX VAIPX Fidelity Inflation-Protected Bond Index 17, n/a 0.8 5/16/12 n/a Vanguard Inflation-Protected Securities /29/00 n/a 0.0 Admiral Shares 18,54 BOND - HIGH YIELD FAGIX Fidelity Capital & Income 54, /01/77 n/a FFRHX Fidelity Floating Rate High Income 19,54, /16/00 n/a FHIFX Fidelity Focused High Income 54, /08/04 n/a FGHNX Fidelity Global High Income,54, n/a 4.8 5/11/11 n/a SPHIX Fidelity High Income 54, /29/90 n/a FSAHX Fidelity Short Duration High Income 54, n/a /05/1 n/a BALANCED/HYBR FBAKX Fidelity Balanced - Class K 20, /06/86 n/a FFNOX Fidelity Four-in-One Index, /29/99 n/a 0. FPUKX Fidelity Puritan - Class K 20, /16/47 n/a FSDIX Fidelity Strategic Dividend & Income /2/0 n/a FSRRX Fidelity Strategic Real Return /07/05 n/a 0.80 VWIAX Vanguard Wellesley Income Admiral /01/70 n/a Shares 21,50 VWENX Vanguard Wellington Admiral Shares 22,50 BALANCED/HYBR - CONVERTIBLES /01/29 n/a FCVSX Fidelity Convertible Securities /05/87 n/a DOMESTIC EQUITIES - LARGE VALUE FBCVX Fidelity Blue Chip Value /17/0 n/a FEQTX Fidelity Equity Dividend Income /21/90 n/a 0.7 FEIKX Fidelity Equity-Income - Class K 20, /16/66 n/a 0.50 FLVEX Fidelity Large Cap Value Enhanced Index /19/07 n/a 0.90 FLCOX Fidelity Large Cap Value Index 2, n/a n/a n/a /07/16 n/a 0.05 FSLVX Fidelity Stock Selector Large Cap Value /15/01 n/a 0.70 FVDKX Fidelity Value Discovery - Class K 20, //02 n/a 0.570

4 DOMESTIC EQUITIES - LARGE VALUE (continued) Month YTD 1 5 FVSKX Fidelity Value Strategies - Class K 20, /1/8 n/a VWNAX Vanguard Windsor II Admiral Shares 24, /24/85 n/a DOMESTIC EQUITIES - M VALUE FLPKX Fidelity Low-Priced Stock - Class K 20,50, /27/89 n/a 0.50 FMEIX Fidelity Mid Cap Enhanced Index 50, /20/07 n/a FSMVX Fidelity Mid Cap Value 50, /15/01 n/a FVLKX Fidelity Value - Class K 20,50, /01/78 n/a DOMESTIC EQUITIES - SMALL VALUE FCPVX Fidelity Small Cap Value 50, /0/04 n/a 0.9 DOMESTIC EQUITIES - LARGE BLEND FXAIX Fidelity 500 Index 15,25, /17/88 n/a FDEKX Fidelity Disciplined Equity - Class K 20, /28/88 n/a 0.40 FDGKX Fidelity Dividend Growth - Class K 20, /27/9 n/a FEXKX Fidelity Export and Multinational - Class K 20, /04/94 n/a 0.60 FGIKX Fidelity Growth & Income Portfolio - Class K 20, /0/85 n/a 0.5 FLCEX Fidelity Large Cap Core Enhanced Index /19/07 n/a 0.90 FLCSX Fidelity Large Cap Stock /22/95 n/a FGRTX Fidelity Mega Cap Stock /28/98 n/a FMILX Fidelity New Millennium /28/92 n/a FSKAX Fidelity Total Market Index 26,27, /05/97 n/a FITLX Fidelity U.S. Sustainability Index 28, n/a n/a n/a /09/17 n/a 0.1 NBSLX Neuberger Berman Sustainable Equity /16/94 n/a Institutional Class 29,0,50 DOMESTIC EQUITIES - M BLEND FSMAX Fidelity Extended Market Index 26,1,50, /05/97 n/a FLCKX Fidelity Leveraged Company Stock - Class /19/00 n/a K 20,50,56 FSMDX Fidelity Mid Cap Index 2,50, n/a /08/11 n/a FSSMX Fidelity Stock Selector Mid Cap,50, /20/96 n/a DOMESTIC EQUITIES - SMALL BLEND DFSTX DFA U.S. Small Cap Portfolio Institutional Class 50, /19/92 n/a 0.70 FARNX Fidelity Event Driven Opportunities 50, n/a /12/1 n/a FSCRX Fidelity Small Cap Discovery 50, /26/00 n/a FCPEX Fidelity Small Cap Enhanced Index 50, /20/07 n/a

5 DOMESTIC EQUITIES - SMALL BLEND (continued) Month YTD 1 5 FSSNX Fidelity Small Cap Index 4,50, n/a /08/11 n/a FSLCX Fidelity Small Cap Stock 50, /12/98 n/a FDSCX Fidelity Stock Selector Small Cap 50, /28/9 n/a DOMESTIC EQUITIES - LARGE GROWTH FBGKX Fidelity Blue Chip Growth - Class K 20, /1/87 n/a FCAKX Fidelity Capital Appreciation - Class K 20, /26/86 n/a FCNKX Fidelity Contrafund - Class K 20, /17/67 n/a FTQGX Fidelity Focused Stock /12/96 n/a FFDKX Fidelity - Class K 20, /0/0 n/a 0.4 FGCKX Fidelity Growth Company - Class K 20, /17/8 n/a FGDKX Fidelity Growth Discovery - Class K 20, /1/98 n/a 0.60 FDFKX Fidelity Independence - Class K 20, /25/8 n/a FLGEX Fidelity Large Cap Growth Enhanced Index /19/07 n/a 0.90 FSPGX Fidelity Large Cap Growth Index 5, n/a n/a n/a /07/16 n/a 0.05 FMGKX Fidelity Magellan - Class K 20, /02/6 n/a 0.6 FNCMX Fidelity Nasdaq Composite Index, /25/0 n/a FOCKX Fidelity OTC Portfolio - Class K 20, /1/84 n/a FSSKX Fidelity Stock Selector All Cap - Class K 20, /28/90 n/a FTRNX Fidelity Trend 6, /16/58 n/a DOMESTIC EQUITIES - M GROWTH FAGKX Fidelity Growth Strategies - Class K 20,50, /28/90 n/a 0.60 FKMCX Fidelity Mid-Cap Stock - Class K 20,50, /29/94 n/a 0.5 DOMESTIC EQUITIES - SMALL GROWTH FCPGX Fidelity Small Cap Growth 50, /0/04 n/a INTERNATIONAL/GLOBAL - DIVERSIFIED RWIGX American s Capital World Growth and /26/9 n/a Income Class R-6 7,50,58 FDIKX Fidelity Diversified International - Class K 20,50, /27/91 n/a FGILX Fidelity Global Equity Income 50, n/a 7.0 5/02/12 n/a FSGGX Fidelity Global ex U.S. Index 8,50, n/a /08/11 n/a FIVFX Fidelity International Capital Appreciation 50, /01/94 n/a

6 INTERNATIONAL/GLOBAL - DIVERSIFIED (continued) FKX Fidelity International Discovery - Class K 20,50,58 Month YTD /1/86 n/a FIENX Fidelity International Enhanced Index 50, /20/07 n/a FIGFX Fidelity International Growth 50, /01/07 n/a FSPSX Fidelity International Index 26,9,50, /05/97 n/a FISMX Fidelity International Small Cap 50, /18/02 n/a FSCOX Fidelity International Small Cap Opportunities /02/05 n/a ,58 FNX Fidelity International Sustainability Index 40,50, n/a n/a n/a /09/17 n/a FIVLX Fidelity International Value 50, /18/06 n/a FOSKX Fidelity Overseas - Class K 20,50, /04/84 n/a FTIEX Fidelity Total International Equity 50, /01/07 n/a FTIHX Fidelity Total International Index 41,50, n/a n/a n/a.70 6/07/16 n/a FWWFX Fidelity Worldwide 50, /0/90 n/a VTRIX Vanguard International Value Investor Shares 50,58 INTERNATIONAL/GLOBAL - REGIONAL /16/8 n/a FICDX Fidelity Canada 50, /17/87 n/a FHKCX Fidelity China Region 50, /01/95 n/a FSEAX Fidelity Emerging Asia 42,50, /19/9 n/a FIEUX Fidelity Europe 50, /01/86 n/a FJPNX Fidelity Japan 50, /15/92 n/a FJSCX Fidelity Japan Smaller Companies 50, /01/95 n/a FLATX Fidelity Latin America 50, /19/9 n/a FNORX Fidelity Nordic 50, /01/95 n/a FPBFX Fidelity Pacific Basin 50, /01/86 n/a INTERNATIONAL/GLOBAL - EMERGING MARKETS FEMEX Fidelity Emerging Europe, Middle East, Africa /08/08 n/a 1.40 (EMEA) 50,58 FEDDX Fidelity Emerging Markets Discovery 50, n/a /01/11 n/a FKEMX Fidelity Emerging Markets - Class K 20,50, /01/90 n/a FPADX Fidelity Emerging Markets Index 4,50, n/a /08/11 n/a FTEMX Fidelity Total Emerging Markets 50, n/a.9 11/01/11 n/a 1. INTERNATIONAL/GLOBAL - SPECIALTY FIREX Fidelity International Real Estate 50,58,59, /08/04 n/a

7 SPECIALTY Month YTD 1 5 CSRSX Cohen & Steers Realty Shares 50,59, /02/91 n/a FFGCX Fidelity Global Commodity Stock 50, n/a 2.68 /25/09 n/a FRIFX Fidelity Real Estate Income 50,59, /04/0 n/a FSRNX Fidelity Real Estate Index 44,50,59, n/a /08/11 n/a FRESX Fidelity Real Estate Investment Portfolio 50,59, /17/86 n/a FSAIX Fidelity Select Air Transportation Portfolio 50, /16/85 n/a FSAVX Fidelity Select Automotive Portfolio 50, /0/86 n/a FSRBX Fidelity Select Banking Portfolio 50, /0/86 n/a FBIOX Fidelity Select Biotechnology Portfolio 50, /16/85 n/a FSLBX Fidelity Select Brokerage and Investment /29/85 n/a Management Portfolio 50,59 FSCHX Fidelity Select Chemicals Portfolio 50, /29/85 n/a FBMPX Fidelity Select Communication Services Portfolio 45,50, /0/86 n/a FSDCX Fidelity Select Communications Equipment /29/90 n/a Portfolio 46,50,59 FDCPX Fidelity Select Computers Portfolio 50, /29/85 n/a FSHOX Fidelity Select Construction and Housing /29/86 n/a Portfolio 50,59 FSCPX FSVLX FDFAX FSDAX Fidelity Select Consumer Discretionary Portfolio 46,50,59 Fidelity Select Consumer Finance Portfolio 47,50,59 Fidelity Select Consumer Staples Portfolio 46,50,59 Fidelity Select Defense and Aerospace Portfolio 50, /29/90 n/a /16/85 n/a /29/85 n/a /08/84 n/a FSENX Fidelity Select Energy Portfolio 50, /14/81 n/a FSESX Fidelity Select Energy Service Portfolio 50, /16/85 n/a FSLEX Fidelity Select Environment and Alternative /29/89 n/a Energy Portfolio 48,50,59 FSX Fidelity Select Financial Services Portfolio 50, //81 n/a FSAGX Fidelity Select Gold Portfolio 50, /16/85 n/a FSPHX Fidelity Select Health Care Portfolio 50, /14/81 n/a 0.70 FSHCX Fidelity Select Health Care Services Portfolio 50, /0/86 n/a FCYIX Fidelity Select Industrials Portfolio 46,50, /0/97 n/a FSPCX Fidelity Select Insurance Portfolio 50, /16/85 n/a

8 SPECIALTY (continued) Month YTD 1 5 FBSOX Fidelity Select IT Services Portfolio 46,50, /04/98 n/a FDLSX Fidelity Select Leisure Portfolio 50, /08/84 n/a FSDPX Fidelity Select Materials Portfolio 46,50, /29/86 n/a FSMEX Fidelity Select Medical Technology and Devices /28/98 n/a Portfolio 50,59 FSNGX Fidelity Select Natural Gas Portfolio 50, /21/9 n/a FNARX Fidelity Select Natural Resources Portfolio 50, /0/97 n/a 0.80 FPHAX Fidelity Select Pharmaceuticals Portfolio 50, /18/01 n/a 0.8 FSRPX Fidelity Select Retailing Portfolio 50, /16/85 n/a FSELX Fidelity Select Semiconductors Portfolio 50, /29/85 n/a FSCSX Fidelity Select Software and IT Services Portfolio 50, /29/85 n/a 0.70 FSPTX Fidelity Select Technology Portfolio 50, /14/81 n/a FSTCX Fidelity Select Telecommunications Portfolio 50, /29/85 n/a FSRFX Fidelity Select Transportation Portfolio 50, /29/86 n/a FSUTX Fidelity Select Utilities Portfolio 46,50, //81 n/a FWRLX Fidelity Select Wireless Portfolio 50, /21/00 n/a 0.80 FIUIX Fidelity Telecom and Utilities 50, /27/87 n/a VGSLX Vanguard Real Estate Index Admiral Shares 49,50,59, /1/96 n/a n/a = Not Applicable/None - - = Not Available MARKET INDICATORS Month YTD 1 5 For comparison purposes only. It is not possible to invest directly in these indicators. DJ Industrial Average MSCI EAFE (Net MA) S&P Russell n/a = Not Applicable/None - - = Not Available 8

9 Total returns are historical and include change in share value and reinvestment of dividends and capital gains, if any. total returns are reported as of the period indicated. fund figures are reported as of the inception date to the period indicated. These figures do not include the effects of sales charges, if any, as these charges are waived for contributions made through your company s employee benefit plan. If sales charges were included, returns would have been lower. EXPENSE RATIO A mutual fund expense ratio is the total annual fund or class operating expenses (before waivers or reimbursements) paid by the fund and stated as a percent of the fund s total net assets. For other types of investments, the figure in the expense ratio field reflects similar information, but may have been calculated differently than for mutual funds. Mutual fund data comes from the fund s prospectus. For non-mutual fund investment options, the information has been provided by the plan sponsor, the investment option s manager or the trustee. When no ratio is shown for these options it is because none was available. There may be fees and expenses associated with the investment option. information changes periodically. Please consult NetBenefits for updates. SPECIFIC FUNDS Morningstar, Inc., provided data on the non-fidelity mutual funds. Although the data is gathered from reliable sources, accuracy and completeness cannot be guaranteed by Morningstar. 1 On July 20, 2017, an initial offering of the Fidelity Freedom K class took place. Returns and expenses prior to that date are those of the Freedom (retail) class. Had K class expenses been reflected in the returns shown, total returns would have been higher. 2 On December 1, 2015, this fund (formerly Fidelity Cash Reserves) was approved to operate as a government fund with different investment policies. The historical performance may not represent its current investment policies. Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. 4 Initial offering of Premium Class shares for Fidelity Government Money Market was on 04/06/2015. Returns and expenses prior to that date are those of Fidelity Government Money Market (SPAXX). Had Fidelity Government Money Market - Premium Class expenses been reflected in the returns shown, total returns would have been higher. 5 Initial offering of Fidelity Treasury shares for Treasury was on 04/06/2015. Returns and expenses prior to that date are those of Treasury -Daily Money Class. Had Treasury -Fidelity Treasury expenses been reflected in the returns shown, total returns would have been higher. 6 The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 0/01/20. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 05/16/1980, adjusted to reflect the fees and expenses of 7 Returns prior to October 4, 2017 are those of the Premium Class and reflect the Premium Class expense ratio. Had the Institutional Premium Class expense ratio been reflected, total returns would have been higher. 8 As of 11/05/2018, this fund changed its name from Fidelity Intermediate Treasury Bond Index - Institutional Premium Class. 9 As of 11/05/2018, this fund changed its name from Fidelity Long-Term Treasury Bond Index - Institutional Premium Class. As of 11/05/2018, this fund changed its name from Fidelity Treasury Bond Index - Institutional Premium Class. 11 On November 1, 201, an initial offering of the Fidelity Limited Term Bond (Retail Class) took place. Returns and expenses prior to that date are those of the Fidelity Advisor Limited Term Bond Institutional Class. Had Fidelity Limited Term Bond (Retail Class) expenses been reflected in the returns shown, total returns would have been higher. 12 Prior to October 0, 201, the fund was named Fidelity Advisor Intermediate Bond, and the fund operated under different investment policies. The fund s historical performance may not represent its current investment policies. 1 As of 11/05/2018, this fund changed its name from Fidelity Bond Index - Institutional Premium Class. 14 As of 11/05/2018, this fund changed its name from Fidelity Sustainability Bond Index - Institutional Class. 15 Returns prior to May 4, 2011 are those of the Premium Class and reflect the Premium Class expense ratio. Had the Institutional Premium Class expense ratio been reflected, total returns would have been higher. 16 As of 11/05/2018, this fund changed its name from Fidelity U.S. Bond Index - Institutional Premium Class. 17 As of 11/05/2018, this fund changed its name from Fidelity Inflation-Protected Bond Index - Institutional Premium Class. 18 The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 06//2005. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 06/29/2000, adjusted to reflect the fees and expenses of 19 Initial offering of the Fidelity Floating Rate High Income took place on September 19, Returns and expenses prior to that date are those of the Fidelity Advisor Floating Rate High Income - Institutional Class. Had Fidelity Floating Rate High Income expenses been reflected in the returns shown, total returns would have been higher. 9

10 20 On May 9, 2008, an initial offering of the retirement (K) class took place. Returns and expenses prior to that date are those of the non-k, non-advisor class. Had K class expenses been reflected in the returns shown, total returns would have been higher. 21 The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 05/14/2001. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 07/01/1970, adjusted to reflect the fees and expenses of 22 The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 05/14/2001. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 07/01/1929, adjusted to reflect the fees and expenses of 2 As of 11/12/2018, this fund changed its name from Fidelity Large Cap Value Index - Institutional Premium Class. 24 The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 05/14/2001. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 06/24/1985, adjusted to reflect the fees and expenses of 25 As of 11/05/2018, this fund changed its name from Fidelity 500 Index - Institutional Premium Class. 26 Returns prior to September 8, 2011 are those of the Premium Class and reflect the Premium Class expense ratio. Had the Institutional Premium Class expense ratio been reflected, total returns would have been higher. 27 As of 11/05/2018, this fund changed its name from Fidelity Total Market Index - Institutional Premium Class. 28 As of 11/12/2018, this fund changed its name from Fidelity U.S. Sustainability Index - Institutional Class. 29 The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 11/28/2007. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 0/16/1994, adjusted to reflect the fees and expenses of 0 Additional Risk Information: The s social responsibility criteria will affect the fund s exposure to certain issuers, industries, sectors, regions and countries and could cause the fund to sell or avoid stocks that subsequently perform well. In addition, undervalued stocks that do not meet the social criteria could outperform those that do. 1 As of 11/05/2018, this fund changed its name from Fidelity Extended Market Index - Institutional Premium Class. 2 As of 11/12/2018, this fund changed its name from Fidelity Mid Cap Index - Institutional Premium Class. Initial offering of the Fidelity Stock Selector Mid Cap Retail Class took place on June 6, Returns prior to that date are those of the Fidelity Advisor Stock Selector Mid Cap - Class I and reflect the Class I s expense ratio. Had the Fidelity Stock Selector Mid Cap Retail Class expense ratio been reflected, total returns would have been lower. 4 As of 11/12/2018, this fund changed its name from Fidelity Small Cap Index - Institutional Premium Class. 5 As of 11/12/2018, this fund changed its name from Fidelity Large Cap Growth Index - Institutional Premium Class. 6 Prior to February 1, 2007, Trend operated under certain different investment policies and compared its performance to a different index. The fund s historical performance may not represent its current investment policies. 7 The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 05/01/2009. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 0/26/199, adjusted to reflect the fees and expenses of 8 As of 11/12/2018, this fund changed its name from Fidelity Global ex U.S. Index - Institutional Premium Class. 9 As of 11/05/2018, this fund changed its name from Fidelity International Index - Institutional Premium Class. 40 As of 11/12/2018, this fund changed its name from Fidelity International Sustainability Index - Institutional Class. 41 As of 11/12/2018, this fund changed its name from Fidelity Total International Index - Institutional Premium Class. 42 Prior to December 1, 20, Fidelity Emerging Asia operated under certain different investment policies and compared its performance to a different benchmark. The fund s historical performance may not represent its current investment policies. 4 As of 11/12/2018, this fund changed its name from Fidelity Emerging Markets Index - Institutional Premium Class.

11 44 As of 11/05/2018, this fund changed its name from Fidelity Real Estate Index - Institutional Class. 45 As of 11/0/2018, this fund changed its name from Fidelity Select Multimedia Portfolio. 46 Prior to October 1, 2006, Fidelity Select IT Services, Select Consumer Discretionary, Select Industrials, Select Communications Equipment, Select Consumer Staples, Select Materials, and Select Utilities Growth Portfolios operated under different investment policies, and compared their performance to different benchmarks. The fund s historical performance might not represent its current investment policies. 47 Prior to December 1, 20, Select Consumer Finance Portfolio operated under certain different investment policies and compared its performance to a different additional benchmark. The fund s historical performance may not represent its current investment policies. 48 Prior to July 1, 20, the fund was named Fidelity Select Environmental Portfolio, operated under certain different investment policies, and compared its performance to a different benchmark. The fund s historical performance may not represent its current investment policies. 49 The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 11/12/2001. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 05/1/1996, adjusted to reflect the fees and expenses of INVESTMENT RISK 50 Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market or economic developments. 51 Fidelity Freedom s are designed for investors expecting to retire around the year indicated in each fund s name. Except for the Freedom Income, the funds asset allocation strategy becomes increasingly conservative as it approaches the target date and beyond. Ultimately, they are expected to merge with the Freedom Income. The investment risks of each Fidelity Freedom change over time as its asset allocation changes. They are subject to the volatility of the financial markets, including equity and fixed income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, small cap and, commodity-related, foreign securities. Principal invested is not guaranteed at any time, including at or after their target dates. 52 Non-Fidelity Government Mutual Money Market: You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund s sponsor has no legal obligation to provide financial support to money market funds and you should not expect that the sponsor will provide financial support to the fund at any time. 5 Fidelity Government Mutual Money Market: You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund s sponsor, have no legal obligation to provide financial support to money market funds and you should not expect that the sponsor will provide financial support to the fund at any time. Fidelity s government and U.S. Treasury money market funds will not impose a fee upon the sale of your shares, nor temporarily suspend your ability to sell shares if the fund s weekly liquid assets fall below 0% of its total assets because of market conditions or other factors. 54 In general the bond market is volatile and bonds entail interest rate risk (as interest rates rise bond prices usually fall and vice versa). This effect is usually pronounced for longer-term securities. Bonds also entail the risk of issuer default, issuer credit risk and inflation risk. 55 Lower-quality debt securities involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. 56 Investments in mid-sized companies may involve greater risk than those of larger, more well known companies, but may be less volatile than investments in smaller companies. 57 Investments in smaller companies may involve greater risk than those in larger, more well known companies. 58 Foreign investments, especially those in emerging markets, involve greater risk and may offer greater potential returns than U.S. investments. This risk includes political and economic uncertainties of foreign countries, as well as the risk of currency fluctuation. 59 Because of their narrow focus, sector funds may be more volatile than funds that diversify across many sectors. 60 Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry. MARKET INDICATORS Indices are unmanaged and you cannot invest directly in an index DJ Industrial Average The Dow Jones Industrial Average (DJIA) is an unmanaged price-weighted index and is the most widely used indicator of how the country s industrial leaders are performing. Also known as "the Dow," this is a formula based on the stock prices of 0 major companies chosen from sectors of the economy most representative of our country s economic condition. MSCI EAFE (Net MA) The MSCI Europe, Australasia and Far East Index (net MA tax) is an unmanaged market capitalization-weighted index of equity securities of companies domiciled in various countries. The index is designed to represent performance of developed stock markets outside the United States and Canada and excludes certain market segments unavailable to U.S. based investors. The index returns for periods after 1/1/1997 are adjusted for tax withholding rates applicable to U.S.-based mutual funds organized as Massachusetts business trusts. S&P 500 S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. 11

12 Russell 2000 The Russell 2000 Index is an unmanaged market capitalization-weighted index of 2,000 small company stocks of U.S. domiciled companies. Before investing in any mutual fund, consider the investment objectives, risks, charges, and expenses. Contact Fidelity for a mutual fund 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 FMR LLC, All rights reserved