Important Disclosures Current performance may be lower or higher than return data quoted herein. For more current

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1 Important Disclosures Current performance may be lower or higher than return data quoted herein. For more current information, including month-end performance, please call or visit ww.massmutual.com/retire. The investment return and the principal value of an investment will fluctuate; so an investor's shares/units, when redeemed, may be worth more or less than their original cost. portfolio statistics change over time. The investment is not FDIC-insured, may lose value and is not guaranteed by a bank or other financial institution. Some plan investments may be made available through an unregistered group annuity contract issued to your plan by the Massachusetts Mutual Life Insurance Company ("MassMutual"). If that is the case, those plan investments 1.) may be in a separate investment account of MassMutual that purchases shares/units of one or more underlying investments, or 2.) may be invested directly in the investment via a separate arrangement between your plan and a trust company. Pre-inception Returns For newer share classes, Morningstar may provide adjusted historical returns based on the oldest surviving share class of a fund with at least three years of performance history. This enables companies to showcase the complete history of an investment. Morningstar calculates these returns by adjusting the initial share class performance for any difference in fee structure. However, if using the expenses of the newer share class rather than the expenses of the older share class would result in better performance, then preinception performance represents that of the older share class without any expense adjustment. The fees and expenses are referenced in the report s Operations section. Adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the investment itself. These figures reflect performance without adjusting for sales charges or the effects of taxation. They are adjusted, however, to reflect all actual ongoing fund expenses and assume reinvestment of dividends and capital gains. Returns are compared to an appropriate benchmark peer group to help investors evaluate performance. The investment's performance is generally compared with that of an index. The index is an unmanaged portfolio of specified securities and does not reflect any initial or ongoing expenses nor can it be invested in directly. An investment s portfolio may differ significantly from the securities in the index. The Index may not be the same as the comparative index noted in the investment s prospectus (if applicable). Gross Expense Ratio/Net Expense Ratio Expense ratios reflect the percentage of the investment s assets paid for operating expenses and management fees. In contrast to net expense ratios, gross expense ratios do not reflect any fee waivers in effect during the time period, which are typically disclosed alongside the expense ratios themselves. Net expense ratios reflect the fees actually borne by investors during the period they are in effect. expense information (including waiver information) is pulled from an investment s most recent prospectus, if applicable. If an additional separate investment account fee applies, it is added to the gross and net expense ratio listed in the prospectus or other source of the expense information and factored into the performance of the separate investment account. Unitized Plan Fund If this is a unitized plan fund, it will invest in shares of the referenced underlying investment. Depending on the level of administrative services revenue ( ASR )generated from the underlying investment and MassMutual s target ASR for the plan, on a periodic basis MassMutual will make adjustments to the unitized plan fund s expense to cause each unitized plan fund to produce ASR equal to the target ASR. If the ASR MassMutual receives from the underlying investment is more than MassMutual s target ASR, MassMutual will allocate to the unitized plan fund a share of the revenue MassMutual received from the underlying investment so that the net expense of the unitized plan fund equals MassMutual s target revenue. If the ASR MassMutual receives from an underlying investment is less than MassMutual s target ASR, MassMutual will redeem shares or units from the underlying investment such that the amount of the revenue received from the underlying investment for administrative services and the redeemed share or units equals MassMutual s target revenue. As a result of this process, the reported performance and expenses of the unitized plan fund is based on but not identical to the performance and expenses reported for the underlying investment. Maximum Sales Charge/12b-1 Fee/Redemption Fee Maximum Sales Charges and Redemption Fees are waived for MassMutual retirement plan participants. In addition, 12b-1 Fees are a component of the Net and Gross Expense Ratio; they are not in addition to the overall expense ratio. Morningstar Proprietary Statistics Some Morningstar proprietary calculations, including the Morningstar Rating, Morningstar Return, and Morningstar Risk may be calculated based on pre-inception returns. Please see the pre-inception returns disclosure (above) for more details. For definitions of these statistics, please visit Morningstar Rating This brings load-adjustments, performance (returns) and risk together into one evaluation. To determine a fund's star rating for a given time period (three, five, or 1 years), the fund's risk-adjusted return is plotted on a bell curve: If the fund scores in the top 1% of its category, it receives 5 stars (Highest); if it falls in the next 22.5% it receives 4 stars (Above Average); a place in the middle 35% earns 3 stars (Average); those lower still, in the next 22.5%, receive 2 stars (Below Average); and the bottom 1% get only 1 star (Lowest). The Overall Morningstar Rating is a weighted average of the available three-, five-, and 1-year ratings. Risk Money market investments are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although these investments seek to preserve the value of your investment at $1. per share, it cannot guarantee that it will do so. The fund s sponsor has no legal obligation to provide financial support to a money market option; and you should not expect that the sponsor will provide financial support to the fund at any time. You could lose money by investing in a money market option. Risks of investing in debt securities investments include the risk that a bond issuer will default by failing to repay principal and interest in a timely manner (credit risk) and/or the risk that the value of these securities will decline when interest rates increase (interest rate risk). Risks of investing in inflation-protected bond investments include credit risk and interest rate risk. Neither the bond investment nor its yield is guaranteed by the U.S. government. High-yield bond investments are generally subject to greater market fluctuations and risk of loss of income and principal than lower-yielding debt securities investments. s that track a benchmark index are professionally managed. However, the benchmark index itself is unmanaged and does not incur fees or expenses and cannot be purchased directly. s in value stocks may remain undervalued for extended periods of time, and the market may not recognize the intrinsic value of these securities. s in growth stocks may experience price volatility due to their sensitivity to market fluctuations and dependence on future earnings expectations. s in companies with small or mid market capitalization ( small caps or mid caps ) may be subject to special risks given their characteristic narrow markets, limited financial resources, and less liquid stocks, all of which may cause price volatility. International/global investing can involve special risks, such as political changes and currency fluctuations. These risks are heightened in emerging markets. A significant percentage of the underlying investments in aggressive asset allocation portfolio investments have a higher than average risk exposure. Investors should consider their risk tolerance carefully before choosing such a strategy. An investment with multiple underlying investments (which may include MM RetireSMART SM and any other offered proprietary or non-proprietary asset-allocation, lifestyle (risk based), lifecycle (target date) or custom blended investments) may be subject to the expenses of those underlying investments in addition to those of the investment itself. s may reside in the specialty category due to 1) allowable investment flexibility that precludes classification in standard asset categories and/or 2) investment concentration in a limited group of securities or industry sectors. s in this category may be more volatile than less-flexible and/or less-concentrated investments and may be appropriate as only a minor component in an investor's overall portfolio. Participants with a large ownership interest in a company or employer stock investment may have the potential to manipulate the value of units of this investment option through their trading practices. As a result, special transfer restrictions may apply. This type of investment option presents a higher degree of risk than diversified investment options under the plan because it invests in the securities of a single company. s that invest more of their assets in a single issuer or industry sector (such as company stock or sector investments) involve additional risks, including unit price fluctuations, because of the increased concentration of investments. A participant will be prohibited from transferring into most mutual funds and similar investments if they have transferred into and out of the same investment within the previous 6 days. Certain stable value, guaranteed interest, fixed income and other investments are not subject to this rule. This rule does not prohibit participants from transferring out of any investment at any time. Target Date (lifecycle) Generally these investment options are designed to be held beyond the presumed retirement date to offer a continuing investment option for the investor in retirement. The year in the investment option name refers to the approximate year an investor in the option would plan to retire and likely would stop making new contributions to the investment option. However, investors may choose a date other than their presumed retirement date to be more conservative or aggressive depending on their own risk tolerance. They are designed for participants who plan to withdraw the value of their accounts gradually after retirement. Each of these options follows its own asset allocation path ( glide path ) to progressively reduce its equity exposure and become more conservative over time. Options may not reach their most conservative allocation until after their target date. Others may reach their most conservative allocation in their target date year. Investors should consider their own personal risk tolerance, circumstances and financial situation. These options should not be selected solely on a single factor such as age or retirement date. Please consult the prospectus (if applicable) pertaining to the options to determine if their glide path is consistent with your long-term financial plan. Target retirement date investment options stated asset allocation may be subject to change. s in these options are not guaranteed and you may experience losses, including losses near, at, or after the target date. Additionally, there is no guarantee that the options will provide adequate income at and through retirement. Investors should consider an investment s objectives, risks, charges and expenses carefully before investing. For this and other information, see a fact sheet (investment profile) or the prospectus, if applicable. You may obtain a prospectus or fact sheet from your plan sponsor or visiting Read it carefully before investing. 217 Morningstar, Inc., Morningstar Profiles TM All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar not its content providers are responsible for any damages or losses arising from any use of information. Past is no guarantee of future performance. Visit our investment website at RS

2 MassMutual Core SAGIC 1 Asset Category: Stable Value Inception: January 1999 Total Portfolio Assets: $2,179 million As of December 31, 217 Objective To provide a stated rate of return, generated from performance of a core bond portfolio, that insulates the account from daily fluctuations in the bond market SAGIC Structure Benefits Stable value guarantees with performance passthrough of an intermediate-term bond portfolio Provides guarantee of principal and book value participant transactions Separate account assets segregated from general obligations of MassMutual 2 Guarantees provided by MassMutual, which is among highest rated insurance companies Transparent structure and expense ratio of.66% 3 BOOK VALUE PERFORMANCE (%) SCB544 / RS months YTD 1 year 3 year 5 year 1 years MassMutual Core SAGIC (Net of standard expense ratio) 91-day Treasury Bills PORTFOLIO MANAGER Barings is an investment management firm with over $299.3 billion 7 in assets under management focusing on fixed income securities 1 Expected Benefits of Stable Value Product Principal Preservation Seeks steady, positive returns in excess of money market rates Insulation of participant account values from market fluctuation Book value liquidity for bona-fide benefit payments and participant-directed transfers to non-competing investments 4 Fixed crediting rate with investment experience realized through periodic rate reset that can be quarterly or semi-annual CHARACTERISTICS OF THE SEPARATE ACCOUNT (yield data is gross of product expense) MassMutual Core SAGIC Bloomberg Barclays U.S. Aggregate Bond Index No. of Holdings Average Quality Aa3 / AA- Aa2 / AA Average Coupon Duration (Years) Weighted Yield to Maturity (%) Weighted Current Yield (%) Weighted Average Life (Years) Market-to-book ratio (%) Involved with stable value portfolios since 1999 and currently managing $19.5 billion in Stable Value assets Team Approach to Portfolio Management, Dave Nagle, CFA, Team leader 1. MassMutual Core Bond Separate Account Guaranteed Interest Contract. 2. Assets allocated to the Core SAGIC separate account under MassMutual group annuity contracts (the Contract ) issued in Minnesota are not segregated from the general obligations of MassMutual in the event of insolvency. 3. Some client contracts may have higher or lower fees than the standard expense ratio. 4. Plan sponsor withdrawals at market value or at book value over time in annual installments. Competing investments (which include certain fixed-income investments and self-directed brokerage accounts) are subject to asset transfer restrictions with regard to the SAGIC. 5. Periods greater than one year are annualized. This investment is only available through a MassMutual group annuity contract (the Contract ). shown was calculated as set forth here and actual historical crediting rates under the Contracts varies from that shown due to cash flow and other fees and expenses associated with the Contracts. These rates are based on an initial lump-sum deposit made at the beginning of the indicated periods (for quarter, year-to-date, 1-, and 3-year returns) with quarterly book value account interest rate resets. Past performance does not guarantee future results. is based on the book value account; performance may be higher or lower depending on actual historical crediting rates applicable to each Contract. A higher or lower return might have been realized had the contract been discontinued by the plan sponsor and, consequently, the market value account balance would be applied upon distribution. Historical performance reflects current expense so that the.7% increase in expense effective 1/1/17 is captured in performance history prior to this date. 6. Represents client assets on an aggregate basis, however, each client contract experiences its own ratio that differs from the aggregate 7. Assets include Barings LLC. Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and representatives.

3 Release Date: Western Asset Core Plus Bond A WAPAX... BBgBarc US Agg Bond TR USD QQQQQ High Above Average Out of 847 Intermediate-Term Bond funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 1-year Ratings. See disclosure for details. Objective & Strategy The investment seeks to maximize total return, consistent with prudent investment management and liquidity needs. The fund invests in a portfolio of fixed income securities of various maturities and, under normal market conditions, will invest at least 8% of its net assets in debt and fixed income securities. Although the fund may invest in securities of any maturity, it will normally maintain a dollar-weighted average effective duration within 3% of the average duration of the domestic bond market as a whole as estimated by the fund's subadvisers. The fund may invest up to 2% of its total assets in non-u.s. dollar denominated securities. Fees and Expenses as of Prospectus Net Expense Ratio.82% Total Annual Operating Expense.89% Maximum Sales Charge 4.25% 12b-1 Fee.25% ExpenseRatio Contractual Fund Return % Load-Adj. Return % Return % Category Average %.. QQQQQ QQQQQ QQQQQ. Morningstar Rating # of Funds in Category Quarter End Returns Fund Return % Standardized Return % Disclosure: The performance data quoted represents past performance and does not guarantee future Initial Class Inception Date Fund Inception Date Portfolio Manager(s) Carl L. Eichstaedt, CFA Michael C. Buchanan, CFA Name of Issuer Legg Mason Telephone Description: BBgBarc US Agg Bond TR USD The index measures the performance of investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM passthroughs), ABS, and CMBS. It rolls up into other Barclays flagship indices, such as the multi-currency Global Aggregate Index and the U.S. Universal Index, which includes high yield and emerging markets debt. Category Description: Intermediate-Term Bond Intermediate-term bond portfolios invest primarily in corporate and other investment-grade U.S. fixed-income issues and typically have durations of 3.5 to 6. years. These portfolios are less sensitive to interest rates, and therefore less volatile, than portfolios that have longer durations. Morningstar calculates monthly breakpoints using the effective duration of the Morningstar Core Bond Index in determining duration assignment. Intermediate-term is defined as 75% to 125% of the three-year average effective duration of the MCBI. Portfolio Analysis as of Composition as of % Net U.S. Stocks.1 Non-U.S. Stocks -.1 Bonds 99.6 Cash -.7 Other Total 1. Top 1 Holdings as of US Treasury Bond 3% US Treasury Bond 3% US Treasury Bond 3.75% Fed Natl Mort Assc 3.5% US Treasury Note 1.875% Freddie Mac Gold Single Family TBA 3% US Treasury Note 1.375% Govt Natl Mtg Asso 3% Fannie Mae Single Family TBA 3% US Treasury Note 2.25% Total Number of Stock Holdings 2 Total Number of Bond Holdings 1719 Annual Turnover Ratio % 97. Total Fund Assets ($mil) 22,88.26 Morningstar Fixed Income Style Box as of Avg Eff Duration 6.93 Avg Eff Maturity Avg Wtd Price. Ltd Mod Ext High Med Low Morningstar Sectors as of % Fund % Category Government Corporate Securitized Municipal fi Cash/Cash Equivalents ± Other Credit Analysis as of % Bonds AAA 57 AA 4 A 14 BBB 11 BB 7 B 3 Below B 4 Not Rated Principal Risks as of Hedging Strategies, Credit and Counterparty, Extension, Prepayment (Call), Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Temporary Defensive Measures, Interest Rate, Market/Market Volatility, High-Yield Securities, Mortgage-Backed and Asset-Backed Securities, Other, Restricted/Illiquid Securities, Derivatives, Leverage, Pricing, Sovereign Debt, Cash Drag, Shareholder Activity, Management 218 Morningstar, Inc., Morningstar Profiles All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may

4 Release Date: Loomis Sayles Strategic Income A NEFZX... BBgBarc US Universal TR USD QQQ Above Average High Out of 257 Multisector Bond funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 1-year Ratings. See disclosure for details. Objective & Strategy The investment seeks high current income with a secondary objective of capital growth. The fund will invest substantially all of its assets in income producing securities (including below investment grade securities, or "junk bonds") with a focus on U.S. corporate bonds, convertible securities, foreign debt instruments, including those in emerging markets and related foreign currency transactions, and U.S. government securities. The fund is not limited in the percentage of its assets that it may invest in these instruments. Fees and Expenses as of Prospectus Net Expense Ratio.96% Total Annual Operating Expense.96% Maximum Sales Charge 4.25% 12b-1 Fee.25% Fund Return % Load-Adj. Return % Return % Category Average %.. Q QQQQ QQQ. Morningstar Rating # of Funds in Category Quarter End Returns Fund Return % Standardized Return % Disclosure: The performance data quoted represents past performance and does not guarantee future Fund Inception Date Portfolio Manager(s) Daniel J. Fuss, CFA Matthew J. Eagan, CFA Name of Issuer Natixis Funds Telephone NGAM.natixis.com Description: BBgBarc US Universal TR USD The index measures the performance of USD-denominated, taxable bonds that are rated either investment grade or highyield. It represents the union of the U.S. Aggregate Index, U.S. Corporate High Yield Index, Grade 144A Index, Eurodollar Index, U.S. Emerging Markets Index, and the non- ERISA eligible portion of the CMBS Index. Category Description: Multisector Bond Multisector-bond portfolios seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, U.S. corporate bonds, foreign bonds, and high-yield U.S. debt securities. These portfolios typically hold 35% to 65% of bond assets in securities that are not rated or are rated by a major agency such as Standard & Poor's or Moody's at the level of BB (considered speculative for taxable bonds) and below. Portfolio Analysis as of Composition as of U.S. Stocks 5.8 Non-U.S. Stocks. Bonds 63.2 Cash 22.6 Other 8.4 Top 1 Holdings as of Bristol-Myers Squibb Company 5.3 US Treasury Note.75% US Treasury Note 1% Canada Govt.75% New Zealand(Govt) 5% United Mexican States 8% Morgan Stanley Sr Unsecured 9/ Dish Net Cv 3.375% New Zealand(Govt) 6% United Mexican States 1% Total Number of Stock Holdings 8 Total Number of Bond Holdings 317 Annual Turnover Ratio % 11. Total Fund Assets ($mil) 9, Morningstar Fixed Income Style Box as of Avg Eff Duration 3.12 Avg Eff Maturity 4.36 Avg Wtd Price 89.7 Ltd Mod Ext High Med Low Morningstar Sectors as of % Fund % Category Government Corporate Securitized Municipal fi Cash/Cash Equivalents ± Other. 11. Credit Analysis as of % Bonds AAA 12 AA 1 A 15 BBB 13 BB 23 B 19 Below B 7 Not Rated 1 Principal Risks as of Credit and Counterparty, Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Issuer, Interest Rate, Market/Market Volatility, Equity Securities, High-Yield Securities, Mortgage-Backed and Asset-Backed Securities, Restricted/Illiquid Securities, Derivatives, Leverage, Management 218 Morningstar, Inc., Morningstar Profiles All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may

5 Release Date: PIMCO High Yield A PHDAX... ICE BofAML US High Yield TR USD QQQ Average Average Out of 69 High Yield Bond funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 1-year Ratings. See disclosure for details. Objective & Strategy The investment seeks maximum total return, consistent with preservation of capital and prudent investment management. The fund invests at least 8% of its assets in a diversified portfolio of high yield securities ("junk bonds"), which may be represented by forwards or derivatives. It may invest up to 2% of its total assets in securities rated Caa or below by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality. The fund may invest, without limitation, in derivative instruments, such as options, futures contracts or swap agreements, or in mortgage- or asset-backed securities. Fees and Expenses as of Prospectus Net Expense Ratio.9% Total Annual Operating Expense.91% Maximum Sales Charge 3.75% 12b-1 Fee.25% Fund Return % Load-Adj. Return % Return % Category Average %.. QQQ QQQ QQQ. Morningstar Rating # of Funds in Category Quarter End Returns Fund Return % Standardized Return % Disclosure: The performance data quoted represents past performance and does not guarantee future Fund Inception Date Portfolio Manager(s) Andrew Jessop Hozef Arif Name of Issuer Pimco Telephone Description: ICE BofAML US High Yield TR USD The index measures the performance of short-term US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $1 million. It is capitalizationweighted. Category Description: High Yield Bond High-yield bond portfolios concentrate on lower-quality bonds, which are riskier than those of higher-quality companies. These portfolios generally offer higher yields than other types of portfolios, but they are also more vulnerable to economic and credit risk. These portfolios primarily invest in U.S. high-income debt securities where at least 65% or more of bond assets are not rated or are rated by a major agency such as Standard & Poor's or Moody's at the level of BB (considered speculative for taxable bonds) and below. Portfolio Analysis as of Composition as of % Net U.S. Stocks. Non-U.S. Stocks.1 Bonds 89.6 Cash 8.3 Other Total 1. Top 1 Holdings as of Pimco Fds Cdx Hy28 5y Ice Cdx Hy27 5y Ice Crimson Merger Sub / Ortho-C % Sprint 7.875% Lloyds Bkg Grp FRN.52 Cdx Hy26 5y Ice Cdx Hy25 5y Ice Cdx Hy23 5y Ice Mgm Resorts Intl 6.625% Total Number of Stock Holdings 12 Total Number of Bond Holdings 78 Annual Turnover Ratio % 31. Total Fund Assets ($mil) 1, Morningstar Fixed Income Style Box as of Avg Eff Duration 3.13 Avg Eff Maturity 4.68 Not Available Avg Wtd Price Morningstar Sectors as of % Fund % Category Government Corporate Securitized Municipal..57 fi Cash/Cash Equivalents ± Other Credit Analysis Not Available % Bonds Principal Risks as of Short Sale, Credit and Counterparty, Prepayment (Call), Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Issuer, Interest Rate, Market/Market Volatility, Equity Securities, High-Yield Securities, Mortgage-Backed and Asset-Backed Securities, Restricted/Illiquid Securities, Derivatives, Leverage, Sovereign Debt, Management 218 Morningstar, Inc., Morningstar Profiles All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may

6 Release Date: PIMCO Foreign Bond (USD-Hedged) A PFOAX... Citi WGBI NonUSD USD QQQQQ High Below Average Out of 271 World Bond funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 1-year Ratings. See disclosure for details. Objective & Strategy The investment seeks maximum total return, consistent with preservation of capital and prudent investment management. The fund normally invests at least 8% of its assets in Fixed Income Instruments that are economically tied to foreign (non- U.S.) countries, representing at least three foreign countries, which may be represented by forwards or derivatives such as options, future contracts or swap agreements. It invests primarily in investment grade debt securities, but may invest up to 1% of its total assets in junk bonds rated B or higher. The fund is non-diversified. Fees and Expenses as of Prospectus Net Expense Ratio.9% Total Annual Operating Expense.95% Maximum Sales Charge 3.75% 12b-1 Fee.25% Fund Return % Load-Adj. Return % Return % Category Average %.. QQQQ QQQQQ QQQQQ. Morningstar Rating # of Funds in Category Quarter End Returns Fund Return % Standardized Return % Disclosure: The performance data quoted represents past performance and does not guarantee future Fund Inception Date Portfolio Manager(s) Andrew Thomas Balls Lorenzo Pagani Name of Issuer Pimco Telephone Description: Citi WGBI NonUSD USD The index measures the performance of fixed-rate, local currency, investment-grade sovereign bonds of all WGBI countries except the United States and is stated in US dollar terms. It is a subset of Citigroup World Government Bond Index (WGBI). Category Description: World Bond World-bond portfolios typically invest 4% or more of their assets in foreign bonds. These portfolios invest primarily in investment-grade rated issues, but their strategies can vary. Some follow a conservative approach, sticking with high-quality bonds from developed markets and/or hedging foreign currency exposure back to the U.S. dollar. Others are more adventurous, owning some lower-quality bonds from developed or emerging markets and/or taking meaningful foreign currency risk. Some portfolios invest exclusively outside the U.S., while others regularly invest in both U.S. and non-u.s. bonds. Portfolio Analysis as of Composition as of % Net U.S. Stocks. Non-U.S. Stocks. Bonds 19.8 Cash -12. Other Total 1. Top 1 Holdings as of IRS USD /18/18-Y* CME_Pay IRS USD /18/17-Y* CME_Recei Day Eurodollar Future Mar Day Eurodollar Future Mar IRS USD /21/17-2Y CME_Pay Cdx Itraxx Main26 5y Ice IRS EUR.5 3/21/18-5Y LCH_Receiv US 1 Year Note (CBT) Dec Euro Schatz Dec Month Canadian Bankers' Acceptance D Total Number of Stock Holdings Total Number of Bond Holdings 89 Annual Turnover Ratio % 252. Total Fund Assets ($mil) 8, Morningstar Fixed Income Style Box as of Avg Eff Duration 6.57 Avg Eff Maturity 8.94 Not Available Avg Wtd Price. Morningstar Sectors as of % Fund % Category Government Corporate Securitized Municipal.5.25 fi Cash/Cash Equivalents ± Other Credit Analysis Not Available % Bonds Principal Risks as of Short Sale, Credit and Counterparty, Prepayment (Call), Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Nondiversification, Issuer, Interest Rate, Market/Market Volatility, Equity Securities, High-Yield Securities, Mortgage- Backed and Asset-Backed Securities, Restricted/Illiquid Securities, Derivatives, Leverage, Sovereign Debt, Management 218 Morningstar, Inc., Morningstar Profiles All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may

7 Release Date: American Funds American Balanced R3 RLBCX... Morningstar Mod Tgt Risk TR USD QQQQQ High Average Out of 718 Allocation--5% to 7% Equity funds. An investment's overall Morningstar Rating, based on its riskadjusted return, is a weighted average of its applicable 3-, 5-, and 1-year Ratings. See disclosure for details. Objective & Strategy The investment seeks conservation of capital, current income and long-term growth of capital and income. The fund uses a balanced approach to invest in a broad range of securities, including common stocks and investmentgrade bonds. It also invests in securities issued and guaranteed by the U.S. government and by federal agencies and instrumentalities. In addition, the fund may invest a portion of its assets in common stocks, most of which have a history of paying dividends, bonds and other securities of issuers domiciled outside the United States. Fees and Expenses as of Prospectus Net Expense Ratio.93% Total Annual Operating Expense.93% Maximum Sales Charge. 12b-1 Fee.5% Fund Return % Load-Adj. Return % Return % Category Average %.. QQQQQ QQQQQ QQQQ. Morningstar Rating # of Funds in Category Quarter End Returns Fund Return % Standardized Return % Disclosure: The performance data quoted represents past performance and does not guarantee future Fund Inception Date Portfolio Manager(s) John H. Smet Hilda L. Applbaum, CFA Name of Issuer American Funds Telephone Description: Morningstar Mod Tgt Risk TR USD The Morningstar Target Risk Index family is designed to meet the needs of investors who would like to maintain a target level of equity exposure through a portfolio diversified across equities, bonds and inflation-hedged instruments. The Morningstar Moderate Target Risk Index seeks approximately 6% exposure to global equity markets. Category Description: Allocation--5% to 7% Equity Funds in allocation categories seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 5% and 7%. Portfolio Analysis as of Composition as of U.S. Stocks 52.3 Non-U.S. Stocks 7. Bonds 35.9 Cash 4.7 Other.1 Top 1 Holdings as of soft Corp 3.95 The Home Depot Inc 2.33 Berkshire Hathaway Inc A 2.2 UnitedHealth Group Inc 1.99 Comcast Corp Class A Philip Morris International Inc 1.83 DowDuPont Inc 1.7 Amazon.com Inc 1.64 Broadcom Ltd 1.49 Wells Fargo & Co Total Number of Stock Holdings 125 Total Number of Bond Holdings 1364 Annual Turnover Ratio % 79. Total Fund Assets ($mil) 124, Morningstar Style Box as of (EQ) ; (F-I) Ltd Mod Ext Morningstar Sectors as of % Fund S&P 5 % h Cyclical r Basic Materials t Consumer Cyclical y Financial Services u Real Estate j Sensitive i Communication Services o Energy p Industrials a Technology k Defensive s Consumer Defensive d Healthcare f Utilities Principal Risks as of Foreign Securities, Loss of Money, Not FDIC Insured, Growth Investing, Active Management, Income, Issuer, Market/Market Volatility, Mortgage-Backed and Asset-Backed Securities, Restricted/Illiquid Securities, U.S. Government Obligations, Fixed-Income Securities High Med Low 218 Morningstar, Inc., Morningstar Profiles All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may

8 Release Date: MassMutual Select Fundamental Value A MFUAX... Russell 1 Value TR USD QQQ Average Average Out of 19 Large Value funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 1-year Ratings. See disclosure for details. Objective & Strategy The investment seeks long-term total return. The fund invests primarily in equity securities of issuers that the fund's subadviser believes are undervalued. It normally invests at least 8% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stocks, rights, and warrants. It may invest up to 2% of its total assets in the securities of foreign issuers and American Depositary Receipts, including emerging market securities. Fees and Expenses as of Prospectus Net Expense Ratio 1.18% Total Annual Operating Expense 1.18% Maximum Sales Charge 5.75% 12b-1 Fee.25% Fund Return % Load-Adj. Return % Return % Category Average %.. QQ QQ QQQ. Morningstar Rating # of Funds in Category Quarter End Returns Fund Return % Standardized Return % Disclosure: The performance data quoted represents past performance and does not guarantee future Fund Inception Date Portfolio Manager(s) Karen H. Grimes, CFA R. Lewis Ropp Name of Issuer MassMutual Telephone Description: Russell 1 Value TR USD The index measures the performance of the large-cap value segment of the US equity securities. It includes the Russell 1 index companies with lower price-to-book ratios and lower expected growth values. It is market-capitalization weighted. Russell Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell is a trademark of Russell Group. Category Description: Large Value Large-value portfolios invest primarily in big U.S. companies that are less expensive or growing more slowly than other largecap stocks. Stocks in the top 7% of the capitalization of the U.S. equity market are defined as large cap. Value is defined based on low valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow). Portfolio Analysis as of Composition as of U.S. Stocks 9.4 Non-U.S. Stocks 8.6 Bonds. Cash 1. Other. Top 1 Holdings as of JPMorgan Chase & Co 4.5 Wells Fargo & Co 3.11 Citigroup Inc 2.85 Cisco Systems Inc 2.74 PNC Financial Services Group Inc Intel Corp 2.38 Merck & Co Inc 2.37 Chevron Corp 2.36 Bank of America Corporation 1.95 Chubb Ltd Total Number of Stock Holdings 78 Total Number of Bond Holdings Annual Turnover Ratio % 13. Total Fund Assets ($mil) 1, Morningstar Equity Style Box as of Giant Large Medium Small Morningstar Sectors as of % Fund S&P 5 % h Cyclical r Basic Materials t Consumer Cyclical y Financial Services u Real Estate j Sensitive i Communication Services o Energy p Industrials a Technology k Defensive s Consumer Defensive d Healthcare f Utilities Principal Risks as of Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Value Investing, Market/Market Volatility, Convertible Securities, Equity Securities, Industry and Sector Investing, Preferred Stocks, Restricted/Illiquid Securities, Pricing, Cash Drag, Management, Small Cap, Mid-Cap, Large Cap 218 Morningstar, Inc., Morningstar Profiles All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may

9 Release Date: Delaware Value A DDVAX... Russell 1 Value TR USD QQQQ Above Average Below Average Out of 19 Large Value funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 1-year Ratings. See disclosure for details. Objective & Strategy The investment seeks long-term capital appreciation. Under normal circumstances, the fund will invest at least 8% of its net assets, plus the amount of any borrowings for investment purposes, in securities of large-capitalization companies (the 8% policy). It invests primarily in securities of large-capitalization companies that the Manager believes have long-term capital appreciation potential. The fund's advisor currently defines large-capitalization stocks as those with market capitalizations of $5 billion or greater at the time of purchase. Fees and Expenses as of Prospectus Net Expense Ratio.97% Total Annual Operating Expense.97% Maximum Sales Charge 5.75% 12b-1 Fee.25% Fund Return % Load-Adj. Return % Return % Category Average %.. QQQ QQQQ QQQQ. Morningstar Rating # of Funds in Category Quarter End Returns Fund Return % Standardized Return % Disclosure: The performance data quoted represents past performance and does not guarantee future Fund Inception Date Portfolio Manager(s) D. Tysen Nutt Robert A. Vogel, CFA Name of Issuer Delaware Funds by Macquarie Telephone Description: Russell 1 Value TR USD The index measures the performance of the large-cap value segment of the US equity securities. It includes the Russell 1 index companies with lower price-to-book ratios and lower expected growth values. It is market-capitalization weighted. Russell Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell is a trademark of Russell Group. Category Description: Large Value Large-value portfolios invest primarily in big U.S. companies that are less expensive or growing more slowly than other largecap stocks. Stocks in the top 7% of the capitalization of the U.S. equity market are defined as large cap. Value is defined based on low valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow). Portfolio Analysis as of Composition as of U.S. Stocks 99. Non-U.S. Stocks. Bonds. Cash.9 Other.1 Top 1 Holdings as of Occidental Petroleum Corp 3.2 Allstate Corp 3.18 BB&T Corp 3.16 Dollar Tree Inc 3.12 Express Scripts Holding Co Lowe's Companies Inc 3.12 Northrop Grumman Corp 3.12 Mondelez International Inc Class A 3.11 Cisco Systems Inc 3.1 Waste Management Inc Total Number of Stock Holdings 33 Total Number of Bond Holdings Annual Turnover Ratio % 9. Total Fund Assets ($mil) 12,776.9 Morningstar Equity Style Box as of Giant Large Medium Small.. Morningstar Sectors as of % Fund S&P 5 % h Cyclical r Basic Materials t Consumer Cyclical y Financial Services u Real Estate j Sensitive i Communication Services o Energy p Industrials a Technology k Defensive s Consumer Defensive d Healthcare f Utilities Principal Risks as of Loss of Money, Not FDIC Insured, Market/Market Volatility, Industry and Sector Investing, Restricted/Illiquid Securities, Regulation/ Government Intervention, Management, Portfolio Diversification 218 Morningstar, Inc., Morningstar Profiles All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may

10 Release Date: MassMutual Select Equity Opports A MFVAX... Russell 1 TR USD QQQ Above Average High Out of 1217 Large Blend funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 1-year Ratings. See disclosure for details. Objective & Strategy The investment seeks growth of capital over the long-term. The fund invests primarily in equity securities of U.S. companies that the fund's subadvisers believe are financially sound, valued conservatively by the market, and have improving prospects. It typically invests most of its assets in equity securities of U.S. companies, but may invest in foreign securities and American Depositary Receipts ("ADRs"), including emerging market securities. The fund generally will not invest more than 3% of its total assets in foreign securities. Fees and Expenses as of Prospectus Net Expense Ratio 1.28% Total Annual Operating Expense 1.28% Maximum Sales Charge 5.75% 12b-1 Fee.25% Fund Inception Date 5-1- Portfolio Manager(s) Donald J. Kilbride John D. Linehan, CFA Name of Issuer MassMutual Telephone Description: Russell 1 TR USD The index measures the performance of the large-cap segment of the US equity securities. It is a subset of the Russell 3 index and includes approximately 1 of the largest securities based on a combination of their market cap and current index membership. Category Description: Large Blend Large-blend portfolios are fairly representative of the overall US stock market in size, growth rates and price. Stocks in the top 7% of the capitalization of the US equity market are defined as large cap. The blend style is assigned to portfolios where neither growth nor value characteristics predominate. These portfolios tend to invest across the spectrum of US industries, and owing to their broad exposure, the portfolios' returns are often similar to those of the S&P 5 Index Fund Return % Load-Adj. Return % Return % Category Average %.. QQ QQ QQQQ. Morningstar Rating # of Funds in Category Quarter End Returns Fund Return % Standardized Return % Disclosure: The performance data quoted represents past performance and does not guarantee future Portfolio Analysis as of Composition as of U.S. Stocks 88.3 Non-U.S. Stocks 1. Bonds. Cash 1.5 Other.2 Top 1 Holdings as of soft Corp 4.39 United Parcel Service Inc Class B 3.78 Nike Inc B 3.58 Bristol-Myers Squibb Company 3.33 Chubb Ltd PNC Financial Services Group Inc 3.3 Public Storage 2.96 American Express Co 2.95 Diageo PLC 2.87 Medtronic PLC Total Number of Stock Holdings 64 Total Number of Bond Holdings Annual Turnover Ratio % 131. Total Fund Assets ($mil) 71.4 Morningstar Equity Style Box as of Giant 46.3 Large Medium 4.22 Small.. Morningstar Sectors as of % Fund S&P 5 % h Cyclical r Basic Materials t Consumer Cyclical y Financial Services u Real Estate j Sensitive i Communication Services o Energy p Industrials a Technology k Defensive s Consumer Defensive d Healthcare f Utilities Principal Risks as of Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Value Investing, Market/Market Volatility, Convertible Securities, Equity Securities, Preferred Stocks, Restricted/Illiquid Securities, Pricing, Cash Drag, Management, Small Cap, Mid-Cap, Large Cap 218 Morningstar, Inc., Morningstar Profiles All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may