The Duke University Faculty and Staff Retirement Plan

Transcription

1 Required Disclosure Information The Duke University Faculty and Staff Retirement Plan Participant Disclosure Notice IMPORTANT PLAN AND INVESTMENT-RELATED INFORMATION FOR PLAN ACCOUNTS ESTABLISHED WITH FIDELITY

2 This Participant Disclosure Notice is being provided to you as required by federal law because you are/will be eligible to participate or have a balance in The Duke University Faculty and Staff Retirement Plan (the "Plan") and have the right to direct investments. The Plan Administrator has directed Fidelity Investments ("Fidelity"), a Plan service provider, to collect, consolidate, and provide you with the information in this Notice. Inside, you will find the following: Information about managing your Plan account Certain Plan information, including an explanation of the right to direct investments, any Plan restrictions, and a description of the types of fees and expenses associated with a Plan account Various details about the Plan s investment options, which may include historical rates of return, benchmark information, expense ratios, and other fees and restrictions that may be imposed Please review these materials carefully. Please keep this information in mind when managing or monitoring any account you may have in the Plan. For more information about participating in the Plan, or if you already have an account with Fidelity in The Duke University Faculty and Staff Retirement Plan and would like to make any changes, log on to What s Inside SECTION 1: Helping You Manage Your Plan Account 2 Accessing your Plan account statement SECTION 2: Certain Plan Information for You to Review 3 Understand the right to direct investment s in the Plan Learn about restrictions applicable under the Plan Review the types of Plan administrative and individual fees and expenses that may be deducted from your account SECTION 3: Evaluating the Plan s Investment Options Review information about the Plan s investment options, including historical or stated rates of return, fees and expenses, and restrictions across the available investment options 6 Note: If this is your first time logging on to you will need to register and set up a username and password to access your account. If you already have a username and password for a Fidelity site (including NetBenefits from a previous employer), you do not need to register again.

3 SECTION 1: Helping You Manage Your Plan Account This Participant Disclosure Notice (the "Notice") includes important Plan and investmentrelated information. Additional tools and other resources are available through your Plan s Web site. Your workplace savings plan is an important benefit, and you ll want to monitor your account periodically to help keep your savings plan on track. Accessing Your Plan Account Statement If you have a Plan account, one way to monitor your retirement savings is to periodically review your account statement. Your statement will also display any Plan administrative or individual fees described in this Notice that have been deducted from your Plan account. Remember, on you may do the following: Access your online Fidelity statement, which is continuously available, by logging on to the Web site, clicking Quick Links for your applicable Plan(s) selecting Statements from the drop down list. Please check your account information frequently and promptly review correspondence, account statements, and confirmations as they are made available to you. Contact Fidelity immediately if you see or suspect unauthorized activity, errors, discrepancies, or if you have not received your account statements or account documents or information. Print your Fidelity statement. Keep in mind that you may obtain a paper version (free of charge) by calling your Plan s toll-free number. Change the way Fidelity statements are delivered to you by logging on to your account and visiting Mail Preferences. For additional assistance, log on to or call Visit (Password: 82205) for information and resources to help you make informed investment decisions, including more detailed information on the Plan s investment options. SECTION 2: Certain Plan Information for You to Review This Participant Disclosure Notice provides certain information about your Plan. Your rights under the Plan are subject to the terms of the Plan. This Notice describes only your Fidelity account within the Plan. Right to Direct Investments You have the right to direct your account balance and any future contributions among the Plan s investment options, subject to any restrictions. To access your Plan account with Fidelity, make any changes to your investment options, direct any future contributions, or seek additional information, log on to or call Investment Options The Plan offers a choice of investment options that allow you to create a diversified portfolio to help you meet your individual needs. The Plan s investment options, along with certain information about each of them, are listed in Section 3 of this Notice. Any frequent trading restrictions imposed by the Plan and/or by the Plan s investment options are listed in Section 3 of this Notice. Keep in mind that restrictions are subject to change. Exercising Voting, Tender, and Similar Rights You have the right to exercise voting, tender, and similar rights related to the following investments you may have in your Plan account. You will receive information regarding such rights and how to exercise them at the time of a vote, tender, or other event. Mutual Funds If you have an account in the Plan, it may be subject to the following types of fees and expenses: Asset-based fees Plan administrative fees and expenses Individual fees and expenses Asset-Based Fees Asset-based fees reflect an investment option s total annual operating expenses and include management and other fees. They are often the largest component of retirement plan costs and are paid by all shareholders of the investment option. Typically, asset-based fees are reflected as a percentage of assets invested in the option and often are referred to as an "expense ratio." You may multiply the expense ratio by your balance in the investment option to estimate the annual expenses associated with your holdings. Refer to Section 3 of this Notice for information about the Plan s investment options, including their expense ratios (where applicable).

4 Asset-based fees are deducted from an investment option s assets, thereby reducing its investment return. Fee levels can vary widely among investment options, depending in part on the type of investment option, its management (including whether it is active or passive), and the risks and complexities of the option s strategy. In some instances, a plan s administrative services may be paid for through offsets and/or payments associated with a plan s investment options. Plan Administrative Plan administrative fees may include recordkeeping, legal, accounting, trustee, and other administrative fees and expenses associated with maintaining the Plan. Some plans may deduct these fees and expenses from individual accounts in the Plan. Based on the information and direction Fidelity had on file at the time this Notice was prepared, no Plan administrative fees will be deducted from accounts in the Plan. However, the Plan s administrative services may be paid for through offsets and/or payments associated with one or more of the Plan s investment options. Please keep in mind that fees are subject to change. If any Plan administrative fees are deducted directly from your account, they will be reflected on your Plan account statement. Individual Individual fees and expenses include those associated with a service or transaction you may select, or an investment option you hold in your account. In some instances, they may be deducted from the accounts of those individuals who utilize the service or engage in the transaction. If you have an account in the Plan, and you select or execute the following service(s) or transaction(s), the fee(s) outlined below may be deducted from your account based on the information and direction Fidelity had on file at the time this Notice was prepared. As you review this information, please keep in mind that fees are subject to change and that certain individual fees may not be deducted in some circumstances. Type of Individual Fee Participant Hired Advisory (Adv) Fee Overnight Mailing Fee Amount Varies based on advisor $25.00 per transaction Also, please note that you may incur short-term redemption fees, commissions, and similar expenses in connection with transactions associated with your Plan s investment options. Please see Section 3 for details regarding the specific fees that may apply to the investment options available under the Plan. If any individual fees are deducted directly from your account, they will be reflected on your Plan account statement.

5 SECTION 3: Evaluating the Plan's Investment Options This section provides information about the investment options in the Plan and reflects data recordkept as of April 10, 2017, except for performance data, which is as of December 31 of the prior year. Additional information about the Plan s investment options, including a glossary of investment terms to help you better understand the Plan s investment options, is available online at (Password: 82205). To request additional investmentrelated information or a paper copy of certain information available online, free of charge, contact a Fidelity representative at Fidelity Investments, P.O. Box # , Cincinnati, OH or call As you review this information, you may want to think about whether an investment in a particular option, along with your other investments, will help you achieve your financial goals. Keep in mind that the cumulative effect of fees and expenses can substantially reduce the growth of your retirement savings, but is only one of many factors to consider when you decide to invest in an option. Visit the Department of Labor s Web site at for an example of the longterm effect of fees and expenses. Variable Return Investments The chart below lists the Plan s investment options that do not have a fixed or stated rate of return, and underneath each investment option is an applicable benchmark(s) for that option. A benchmark is a standard against which the performance of a security, mutual fund, or investment manager can be measured. This Notice requires that a broad-based market index be listed on the chart for each investment option. Additional benchmarks for an investment option may be available online at (Password: 82205) along with benchmark index definitions. Please note that the benchmark to measure and monitor performance may be different from the benchmark displayed in the chart. Keep in mind that you cannot invest in a benchmark index. Understanding investment performance: As you review the following information, 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 and is available at (Password: 82205). Investment Name ASSET ALLOCATION FUNDS Asset Class: Blended Investments Fidelity Freedom K 2005 Fund 5.94% 5.40% 7.12% * 07/02/ % $4.90 BBgBarc U.S. Agg Bond 2.65% 2.23% 3.87% * FID FF 2005 Comp Idx 4.92% 5.40% 6.88% * Fidelity Freedom K 2010 Fund 6.57% 6.52% 8.07% * 07/02/ % $5.30 BBgBarc U.S. Agg Bond 2.65% 2.23% 3.87% * FID FF 2010 Comp Idx 5.73% 6.74% 8.09% *

6 Asset Class: Blended Investments (cont'd) Fidelity Freedom K 2015 Fund 7.10% 6.89% 8.41% * 07/02/ % $ % * FID FF 2015 Comp Idx 6.54% 7.18% 8.48% * Fidelity Freedom K 2020 Fund 7.40% 7.46% 9.15% * 07/02/ % $ % * FID FF 2020 Comp Idx 7.06% 7.79% 9.37% * Fidelity Freedom K 2025 Fund 7.59% 8.46% 9.89% * 07/02/ % $ % * FID FF 2025 Comp Idx 7.58% 9.01% 10.39% * Fidelity Freedom K 2030 Fund 8.25% 8.98% 10.36% * 07/02/ % $ % * FID FF 2030 Comp Idx 8.73% 9.59% 10.99% * Fidelity Freedom K 2035 Fund 8.72% 9.75% 10.82% * 07/02/ % $ % * FID FF 2035 Comp Idx 9.53% 10.57% 11.70% * Fidelity Freedom K 2040 Fund 8.72% 9.82% 10.94% * 07/02/ % $ % * FID FF 2040 Comp Idx 9.54% 10.69% 11.84% * Fidelity Freedom K 2045 Fund 8.79% 10.02% 11.08% * 07/02/ % $ % * FID FF 2045 Comp Idx 9.54% 10.85% 11.97% * Fidelity Freedom K 2050 Fund 8.71% 10.10% 11.12% * 07/02/ % $ % * FID FF 2050 Comp Idx 9.54% 10.96% 12.13% * Fidelity Freedom K 2055 Fund 8.77% 10.29% 7.10% * 06/01/ % $ % * FID FF 2055 Comp Idx 9.54% 11.24% 8.65% *

7 Asset Class: Blended Investments (cont'd) Fidelity Freedom K 2060 Fund 8.74% 4.68% * 08/05/ % $ % * FID FF 2060 Comp Idx 9.54% 4.70% * Fidelity Freedom K Income Fund 5.18% 3.93% 5.25% * 07/02/ % $4.40 BBgBarc U.S. Agg Bond 2.65% 2.23% 3.87% * FID FF Income Comp Idx 3.85% 3.69% 4.57% * CORE FUNDS Asset Class: Stocks Fidelity Contrafund - Class K 3.48% 13.58% 8.00% 05/17/ % $5.80 Fidelity Extended Market Index Fund - Premium Class 16.10% 14.56% 8.04% 11/05/ % $0.70 DJ US Completion TSM 15.75% 14.38% 7.91% Fidelity International Index Fund - Institutional Class 1.36% 6.65% 0.86% 11/05/ % $0.60 MSCI EAFE (Net MA) 1.21% 6.69% 0.90% Fidelity Total Market Index Fund - Institutional Class 12.68% 14.59% 7.17% 11/05/ % $0.35 DJ US Total Stk Mkt 12.62% 14.59% 7.18% Goldman Sachs Small Cap Value Fund Institutional 24.65% 15.40% 8.76% 10/22/ % $10.10 Russell 2000 Value 31.74% 15.07% 6.26% Harbor International Fund Institutional Class 0.25% 4.88% 2.03% 12/29/ % $8.00 MSCI EAFE (N) 1.00% 6.53% 0.75% Janus Triton Fund Class N 10.65% 14.45% 11.06% 02/25/ % $6.80 Russell 2500 Growth 9.73% 13.88% 8.24%

8 Asset Class: Stocks (cont'd) MFS Value Fund Class R % 14.82% 6.91% 01/02/ % $5.10 Russell 1000 Value 17.34% 14.80% 5.72% Oppenheimer Developing Markets Fund Class Y 7.17% 3.04% 4.48% 11/18/ % $10.70 MSCI Emerging Markets (N) 11.19% 1.28% 1.84% Prudential Jennison Mid Cap Growth Fund Class Z 4.12% 10.61% 7.92% 12/31/ % $7.60 Russell Midcap Growth 7.33% 13.51% 7.83% RidgeWorth Ceredex Mid-Cap Value Equity Fund I Shares 20.16% 14.91% 9.13% 11/30/ % $11.20 Russell Midcap Value Asset Class: Bonds 20.00% 15.70% 7.59% Fidelity U.S. Bond Index Fund - Institutional Class 2.50% 2.18% 4.04% 03/08/ % $0.40 BBgBarc U.S. Agg Bond 2.65% 2.23% 4.34% Metropolitan West Total Return Bond Fund Plan Class 2.56% 4.11% 5.78% 03/31/ % $3.80 BBgBarc U.S. Agg Bond Asset Class: Short-Term 2.65% 2.23% 4.34% Vanguard Federal Money Market Fund Investor Shares 0.30% 0.08% 0.83% 07/13/ % $ Day Yield % as of 12/30/2016: % 0.09% 0.73% CG 3-Month Treasury Bill OTHER FUNDS Asset Class: Stocks Deutsche Core Equity Fund Institutional Class 10.38% 15.60% 7.03% 05/31/ % $5.60 Russell % 14.69% 7.08%

9 Asset Class: Stocks (cont'd) Deutsche CROCI Equity Dividend Fund Institutional Class 19.50% 11.85% 2.67% 03/18/ % $7.90 Deutsche CROCI International Fund Institutional Class 1.22% 7.06% -0.41% 06/18/ % $8.30 MSCI EAFE (N) 1.00% 6.53% 0.75% Deutsche Emerging Markets Equity Fund Institutional Class 9.96% 1.59% -0.68% 05/08/ % $17.20 MSCI Emerging Markets (N) 11.19% 1.28% 1.84% Deutsche Global Growth Fund Institutional Class 0.31% 7.67% 1.19% 07/23/ % $11.70 MSCI World (N) 7.51% 10.41% 3.83% Deutsche Global Small Cap Fund Institutional Class 1.96% 8.82% 3.52% 09/10/ % $12.30 S&P Dev Small Cap 11.59% 12.44% 5.45% Deutsche Gold & Precious Metals Fund Institutional Class 50.92% % -5.53% 09/02/ % $13.80 Deutsche Large Cap Focus Growth Fund Institutional Class 2.91% 13.91% 7.50% 05/15/ % $10.00 Russell 1000 Growth 7.08% 14.50% 8.33% Deutsche Latin America Equity Fund Class S 32.33% -3.34% -1.05% 12/08/ % $16.10 MSCI EM Lat Am USD (N) 31.04% -5.69% 0.27% Deutsche Mid Cap Growth Fund Institutional Class 5.33% 10.07% 4.58% 10/12/ % $9.60 Russell Midcap Growth 7.33% 13.51% 7.83%

10 Asset Class: Stocks (cont'd) Deutsche Mid Cap Value Fund Institutional Class 11.66% 15.21% 7.34% 08/01/ % $9.70 Russell Midcap Value 20.00% 15.70% 7.59% Deutsche Index Fund Class S 11.52% 14.26% 6.60% 08/29/ % $3.30 Fidelity 500 Index Fund - Institutional Class 11.93% 14.63% 6.92% 02/17/ % $0.35 Fidelity Blue Chip Growth Fund - Class K 1.71% 15.45% 9.11% 12/31/ % $7.00 Russell 1000 Growth 7.08% 14.50% 8.33% Fidelity Blue Chip Value Fund 11.19% 13.76% 3.56% 06/17/ % $8.80 Russell 1000 Value 17.34% 14.80% 5.72% Fidelity Canada Fund S&P/TSX Composite Index 20.11% 25.42% 3.45% 2.45% 3.18% 3.24% 11/17/ % $11.70 Short term trading fees of 1.5% for shares held less Fidelity Capital Appreciation Fund - Class K 3.29% 14.26% 11/26/ % $5.00 Fidelity China Region Fund MSCI Golden Dragon -5.24% 5.75% 7.27% 6.90% 5.95% 4.22% 11/01/ % $10.20 Short term trading fees of 1.5% for shares held less Fidelity Disciplined Equity Fund - Class K 6.32% 13.67% 4.96% 12/28/ % $5.70 Fidelity Diversified International Fund - Class K -3.60% 7.66% 1.45% 12/27/ % $9.20 MSCI EAFE (Net MA) 1.21% 6.69% 0.90%

11 Asset Class: Stocks (cont'd) Fidelity Dividend Growth Fund - Class K 8.19% 13.56% 6.27% 04/27/ % $5.00 Fidelity Emerging Asia Fund MS AC Asia exjpn (Net MA) 4.73% 5.45% 5.46% 4.85% 3.40% 3.83% 04/19/ % $11.60 Short term trading fees of 1.5% for shares held less Fidelity Emerging Europe, Middle East, Africa (EMEA) Fund MSCI EM Eur ME Africa (G) 28.81% 20.50% 3.45% -0.73% -0.27% * -3.68% * 05/08/ % $14.60 Short term trading fees of 1.5% for shares held less Fidelity Emerging Markets Fund - Class K MSCI Emerging Markets (G) 3.42% 11.60% 2.56% 1.64% 0.66% 2.17% 11/01/ % $8.40 Short term trading fees of 1.5% for shares held less Fidelity Equity Dividend Income Fund - Class K 16.00% 13.43% 4.97% 08/21/ % $6.10 Russell 3000 Value 18.40% 14.81% 5.76% Fidelity Equity-Income Fund - Class K 17.52% 13.14% 4.61% 05/16/ % $5.60 Russell 3000 Value 18.40% 14.81% 5.76% Fidelity Europe Fund -5.62% 7.70% 1.17% 10/01/ % $10.70 MSCI Europe (Net MA) -0.14% 6.52% 0.61% Fidelity Export and Multinational Fund - Class K 10.12% 12.34% 5.69% 10/04/ % $6.40 Fidelity Focused Stock Fund 3.25% 12.01% 8.00% 11/12/ % $6.20 Fidelity Fund - Class K 4.93% 13.09% 6.28% 04/30/ % $4.10

12 Asset Class: Stocks (cont'd) Fidelity Global Commodity Stock Fund MSCI AC World (Net MA) 30.36% 8.32% -2.52% 9.78% 3.01% * 12.29% * 03/25/ % $11.30 Short term trading fees of 1% for shares held less Fidelity Global Equity Income Fund MSCI AC World (Net MA) 3.41% 8.32% 8.61% * 8.15% * 05/02/ % $11.80 Short term trading fees of 1% for shares held less Fidelity Growth & Income - Class K 16.22% 14.90% 3.62% 12/30/ % $5.30 Fidelity Growth Company Fund - Class K 6.12% 16.50% 10.12% 01/17/ % $6.60 Russell 3000 Growth 7.39% 14.44% 8.28% Fidelity Growth Discovery Fund - Class K 0.83% 13.59% 7.58% 03/31/ % $6.60 Russell 3000 Growth 7.39% 14.44% 8.28% Fidelity Growth Strategies Fund - Class K 2.85% 13.40% 6.18% 12/28/ % $7.30 Russell Midcap Growth 7.33% 13.51% 7.83% Fidelity Independence Fund - Class K -1.13% 13.30% 6.77% 03/25/ % $4.50 Fidelity International Capital Appreciation Fund -3.14% 9.51% 2.51% 11/01/ % $11.40 MSCI AC Wld xus (Net MA) 4.68% 5.15% 1.11% Fidelity International Discovery Fund - Class K -5.62% 7.44% 1.58% 12/31/ % $8.60 MSCI EAFE (Net MA) 1.21% 6.69% 0.90%

13 Asset Class: Stocks (cont'd) Fidelity International Enhanced Index Fund MSCI EAFE (Net MA) 1.89% 1.21% 7.81% 6.69% 0.10% * 0.17% * 12/20/ % $6.30 Short term trading fees of 1% for shares held less Fidelity International Growth Fund -3.30% 7.34% 1.66% * 11/01/ % $9.90 MSCI EAFE Growth (Net MA) -2.89% 6.80% -0.17% * Fidelity International Real Estate Fund MSCI EAFE (Net MA) -1.56% 1.21% 11.12% 6.69% -0.72% 0.90% 09/08/ % $11.30 Short term trading fees of 1.5% for shares held less Fidelity International Small Cap Fund MSCI ACWI xus SmCp Net MA 8.18% 4.02% 11.82% 7.97% 5.01% 3.19% 09/18/ % $13.40 Short term trading fees of 2% for shares held less Fidelity International Small Cap Opportunities Fund MSCI EAFE Sm Cap (Net MA) -1.08% 2.32% 10.67% 10.66% 1.48% 3.06% 08/02/ % $11.70 Short term trading fees of 2% for shares held less Fidelity International Value Fund MSCI EAFE Val (Net MA) -1.53% 5.30% 6.19% 6.47% -0.62% -0.04% 05/18/ % $10.30 Short term trading fees of 1% for shares held less Fidelity Japan Fund TOPIX 2.65% 3.46% 6.68% 8.82% -0.55% 1.19% 09/15/ % $7.80 Short term trading fees of 1.5% for shares held less Fidelity Japan Smaller Companies Fund Russell/Nom Mid Small Cap 8.82% 4.23% 13.82% 9.45% 3.20% 2.72% 11/01/ % $9.60 Short term trading fees of 1.5% for shares held less Fidelity Large Cap Core Enhanced Index Fund 10.86% 14.06% 6.46% * 04/19/ % $ % * Fidelity Large Cap Growth Enhanced Index Fund 8.21% 14.29% 7.63% * 04/19/ % $4.50 Russell 1000 Growth 7.08% 14.50% 8.04% *

14 Asset Class: Stocks (cont'd) Fidelity Large Cap Stock Fund 16.70% 15.91% 8.08% 06/22/ % $7.80 Fidelity Large Cap Value Enhanced Index Fund 16.32% 15.14% 5.35% * 04/19/ % $4.50 Russell 1000 Value 17.34% 14.80% 5.42% * Fidelity Latin America Fund MSCI EM Latin America (G) 19.60% 31.47% -9.55% -5.42% -2.94% 0.52% 04/19/ % $11.40 Short term trading fees of 1.5% for shares held less Fidelity Leveraged Company Stock Fund - Class K 7.38% 13.26% 5.97% 12/19/ % $6.80 Fidelity Low-Priced Stock Fund - Class K 8.88% 13.26% 7.54% 12/27/ % $7.80 Russell % 14.46% 7.07% Fidelity Magellan Fund - Class K 5.34% 14.92% 5.45% 05/02/ % $7.50 Fidelity Mega Cap Stock Fund 13.63% 14.75% 7.26% 12/28/ % $6.90 Fidelity Mid Cap Enhanced Index Fund 13.49% 15.33% 8.44% * 12/20/ % $6.00 Russell MidCap 13.80% 14.72% 8.15% * Fidelity Mid Cap Value Fund 12.39% 15.68% 7.48% 11/15/ % $7.30 Russell Midcap Value 20.00% 15.70% 7.59% Fidelity Mid-Cap Stock Fund - Class K 15.10% 13.92% 7.44% 03/29/ % $6.10 S&P MidCap % 15.33% 9.16%

15 Asset Class: Stocks (cont'd) Fidelity Nasdaq Composite Index Fund 8.79% 16.90% 9.36% 09/25/ % $4.30 NASDAQ Composite 8.87% 17.07% 9.51% Fidelity New Millennium Fund 14.92% 13.56% 8.44% 12/28/ % $5.40 Fidelity Nordic Fund FTSE Capped Nordic Index -2.48% -2.13% 13.40% 8.90% 4.22% 3.50% 11/01/ % $9.90 Short term trading fees of 1.5% for shares held less Fidelity OTC - Class K 3.23% 16.93% 11.27% 12/31/ % $7.90 NASDAQ Composite 8.87% 17.07% 9.51% Fidelity Overseas Fund - Class K -1.20% 10.45% 1.77% 12/04/ % $9.10 MSCI EAFE (Net MA) 1.21% 6.69% 0.90% Fidelity Pacific Basin Fund MS AC Pac Fr (Net MA) 2.93% 5.28% 10.93% 6.06% 5.03% 2.02% 10/01/ % $11.90 Short term trading fees of 1.5% for shares held less Fidelity Real Estate Income Fund 10.21% 9.31% 6.29% 02/04/ % $8.20 Short term trading fees of Fidelity Real Estate Investment 7.77% 12.23% 4.92% 11/17/ % $7.80 Fidelity Select Air Transportation 20.03% 20.33% 9.83% 12/16/ % $8.30 Short term trading fees of Fidelity Select Automotive -5.83% 12.40% 5.26% 06/30/ % $8.70 Short term trading fees of

16 Asset Class: Stocks (cont'd) Fidelity Select Banking 26.84% 18.57% 2.48% 06/30/ % $7.90 Short term trading fees of Fidelity Select Biotechnology % 21.52% 13.40% 12/16/ % $7.30 Fidelity Select Brokerage and Investment Management 6.70% 14.13% 2.38% 07/29/ % $7.90 Short term trading fees of Fidelity Select Chemicals 17.98% 14.60% 12.04% 07/29/ % $8.00 Fidelity Select Communications Equipment 19.88% 10.95% 6.22% 06/29/ % $9.00 Short term trading fees of Fidelity Select Computers 15.81% 11.40% 8.88% 07/29/ % $8.00 Short term trading fees of Fidelity Select Construction and Housing 5.05% 16.82% 7.74% 09/29/ % $8.10 Short term trading fees of Fidelity Select Consumer Discretionary 4.35% 15.67% 8.27% 06/29/ % $7.70 Fidelity Select Consumer Finance 14.59% 15.76% -5.45% 12/16/ % $9.00 Short term trading fees of

17 Asset Class: Stocks (cont'd) Fidelity Select Consumer Staples 3.07% 11.12% 9.26% 07/29/ % $7.70 Fidelity Select Defense and Aerospace 17.89% 16.15% 9.30% 05/08/ % $8.00 Fidelity Select Energy 33.84% 3.84% 3.02% 07/14/ % $8.00 Fidelity Select Energy Service 36.57% -0.06% 0.32% 12/16/ % $8.50 Short term trading fees of Fidelity Select Environment and Alternative Energy 20.72% 12.57% 5.02% 06/29/ % $9.50 Short term trading fees of Fidelity Select Financial Services 18.67% 16.62% -0.03% 12/10/ % $7.60 Fidelity Select Gold 47.28% % -3.10% 12/16/ % $9.70 Fidelity Select Health Care % 19.13% 11.75% 07/14/ % $7.30 Fidelity Select Health Care Services 2.25% 15.13% 9.53% 06/30/ % $7.70 Short term trading fees of Fidelity Select Industrial Equipment 12.73% 13.20% 7.66% 09/29/ % $8.30 Short term trading fees of

18 Asset Class: Stocks (cont'd) Fidelity Select Industrials 15.53% 14.93% 9.36% 03/03/ % $7.70 Fidelity Select Insurance 18.17% 18.25% 4.99% 12/16/ % $8.00 Short term trading fees of Fidelity Select IT Services 5.19% 18.33% 12.83% 02/04/ % $8.10 Fidelity Select Leisure 6.35% 13.45% 9.68% 05/08/ % $7.90 Short term trading fees of Fidelity Select Materials 11.99% 8.41% 7.86% 09/29/ % $8.10 Fidelity Select Medical Equipment and Systems 8.68% 19.23% 12.13% 04/28/ % $7.60 Fidelity Select Multimedia 9.50% 17.79% 9.47% 06/30/ % $8.10 Short term trading fees of Fidelity Select Natural Gas 48.46% 0.76% -0.26% 04/21/ % $8.90 Short term trading fees of Fidelity Select Natural Resources 30.24% 1.68% 2.79% 03/03/ % $8.60 Short term trading fees of

19 Asset Class: Stocks (cont'd) Fidelity Select Pharmaceuticals % 12.62% 10.17% 06/18/ % $7.80 Fidelity Select Retailing 4.43% 20.01% 12.92% 12/16/ % $8.10 Fidelity Select Semiconductors 32.38% 21.98% 10.85% 07/29/ % $7.70 Short term trading fees of Fidelity Select Software and IT Services 10.31% 18.66% 12.72% 07/29/ % $7.70 Fidelity Select Technology 11.94% 15.48% 10.12% 07/14/ % $7.80 Fidelity Select Telecommunications 22.81% 13.42% 6.21% 07/29/ % $8.20 Fidelity Select Transportation 25.90% 17.77% 10.49% 09/29/ % $8.10 Short term trading fees of Fidelity Select Utilities 14.00% 9.79% 5.64% 12/10/ % $8.00 Fidelity Select Wireless 10.07% 10.38% 6.68% 09/21/ % $8.60 Short term trading fees of

20 Asset Class: Stocks (cont'd) Fidelity Small Cap Discovery Fund Russell % 21.31% 15.67% 14.46% 11.32% 7.07% 09/26/ % $10.10 Short term trading fees of 1.5% for shares held less Fidelity Small Cap Enhanced Index Fund 22.84% 16.04% 8.82% * 12/20/ % $6.80 Russell % 14.46% 8.02% * Fidelity Small Cap Growth Fund Russell 2000 Growth 10.97% 11.32% 14.78% 13.74% 8.46% 7.76% 11/03/ % $11.30 Short term trading fees of 1.5% for shares held less Fidelity Small Cap Stock Fund Russell % 21.31% 12.70% 14.46% 6.55% 7.07% 03/12/ % $10.00 Short term trading fees of 2% for shares held less Fidelity Small Cap Value Fund Russell 2000 Value 21.28% 31.74% 15.94% 15.07% 9.29% 6.26% 11/03/ % $12.20 Short term trading fees of 1.5% for shares held less Fidelity Stock Selector All Cap Fund - Class K 9.73% 14.11% 6.35% 09/28/ % $5.40 Fidelity Stock Selector Large Cap Value Fund 16.02% 14.25% 4.38% 11/15/ % $7.70 Russell 1000 Value 17.34% 14.80% 5.72% Fidelity Stock Selector Mid Cap Fund 10.65% 13.09% 5.43% 02/20/ % $6.40 S&P MidCap % 15.33% 9.16% Fidelity Stock Selector Small Cap Fund Russell % 21.31% 12.78% 14.46% 5.99% 7.07% 06/28/ % $8.90 Short term trading fees of 1.5% for shares held less Fidelity Telecom and Utilities Fund 17.03% 10.68% 5.80% 11/27/ % $5.70

21 Asset Class: Stocks (cont'd) Fidelity Total International Equity Fund MSCI AC Wld exus (Net MA) -0.55% 4.68% 6.20% 5.15% -0.92% * -1.05% * 11/01/ % $11.10 Short term trading fees of 1% for shares held less Fidelity Trend Fund 4.57% 14.68% 8.45% 06/16/ % $7.40 Russell 1000 Growth 7.08% 14.50% 8.33% Fidelity Value Discovery Fund - Class K 13.41% 15.03% 6.34% 12/10/ % $7.00 Russell 3000 Value 18.40% 14.81% 5.76% Fidelity Value Fund - Class K 16.19% 15.30% 6.30% 12/01/ % $5.50 Russell Midcap Value 20.00% 15.70% 7.59% Fidelity Value Strategies Fund - Class K 11.41% 14.02% 6.23% 12/31/ % $4.40 Russell Midcap Value 20.00% 15.70% 7.59% Fidelity Worldwide Fund -0.62% 10.06% 4.84% 05/30/ % $9.10 MSCI World (Net MA) Strategic Advisers Emerging Markets Fund of Funds MSCI Emerging Markets (G) Strategic Advisers International Multi-Manager Fund MSCI EAFE (Net MA) Strategic Advisers Small-Mid Cap Multi-Manager Fund Russell 2500 Asset Class: Blended Investments Deutsche Global Income Builder Fund Institutional Class S&P Target Risk Mod (TR) 8.01% 10.67% 11.60% -0.13% 1.21% 15.63% 17.59% 10.88% 12.63% 14.54% 4.25% -1.14% * -0.91% * 5.32% * 5.43% * 12.77% * * 05/02/ % $22.40 Short term trading fees of 1.5% for shares held less 05/02/ % $11.10 Short term trading fees of 1% for shares held less 12/20/ % $14.30 Short term trading fees of 1.5% for shares held less 9.61% 6.63% 3.55% 03/02/ % $ % 5.55% Fidelity Asset Manager 20% 4.70% 4.07% 3.90% 10/01/ % $5.30 BBgBarc U.S. Agg Bond 2.65% 2.23% 4.34%

22 Asset Class: Blended Investments (cont'd) Fidelity Asset Manager 30% 5.50% 5.29% 3.93% * 10/09/ % $5.40 BBgBarc U.S. Agg Bond 2.65% 2.23% 4.29% * Fidelity Asset Manager 40% 6.00% 6.35% 4.12% * 10/09/ % $5.50 BBgBarc U.S. Agg Bond 2.65% 2.23% 4.29% * Fidelity Asset Manager 50% 6.43% 7.24% 4.87% 12/28/ % $6.60 Fidelity Asset Manager 60% 6.76% 8.15% 4.35% * 10/09/ % $ % * Fidelity Asset Manager 70% 7.08% 9.04% 4.98% 12/30/ % $7.30 Fidelity Asset Manager 85% 7.38% 10.41% 5.14% 09/24/ % $7.60 Fidelity Balanced Fund - Class K 7.12% 10.16% 6.11% 11/06/ % $4.60 Fidelity Convertible Securities Fund 5.97% 8.75% 5.43% 01/05/ % $4.50 BofA ML All US Convt 10.43% 10.98% 6.45% Fidelity Four-in-One Index Fund 8.31% 10.65% 5.21% 06/29/ % $1.30 Fidelity Global Balanced Fund 0.88% 5.20% 4.22% 02/01/ % $10.20 MSCI World (Net MA) 8.01% 10.88% 4.25% Fidelity Global Strategies Fund 5.87% 5.85% 2.88% * 10/31/ % $12.10 MSCI AC World (Net MA) 8.32% 9.78% 2.40% * Fidelity Puritan Fund - Class K 5.20% 10.27% 6.00% 04/16/ % $4.60

23 Asset Class: Blended Investments (cont'd) Fidelity Strategic Dividend & Income Fund 12.73% 11.29% 5.69% 12/23/ % $7.80 Fidelity Strategic Real Return Fund 9.09% 1.57% 2.49% 09/07/ % $8.20 BBgBarc US TIPS Asset Class: Bonds 4.68% 0.89% 4.36% Deutsche Core Plus Income Fund Institutional Class 3.64% 2.62% 2.04% 04/24/ % $7.70 BBgBarc U.S. Agg Bond 2.65% 2.23% 4.34% Deutsche Enhanced Emerging Markets Fixed Income Institutional Class 9.52% 2.60% 2.61% 12/31/ % $9.20 JPM EMBI Global Divers Deutsche Enhanced Global Bond Fund Class S BBgBarc Glb Agg Bd Hgd BBgBarc Glb Agg Bd Unhgd Deutsche GNMA Fund Institutional Class 10.15% 5.91% 6.88% 3.42% 1.67% 3.21% 03/01/ % $ % 3.59% 4.39% 2.09% 0.21% 3.29% 1.35% 1.24% 3.87% 07/14/ % $5.20 BBgBarc GNMA 1.56% 1.81% 4.35% Fidelity Advisor Total Bond Fund - Class Z 5.85% 3.26% 4.85% 10/15/ % $3.60 BBgBarc U.S. Agg Bond 2.65% 2.23% 4.34% Fidelity Capital & Income Fund BofA ML US HY/HY Const Bl 10.73% 17.49% 8.26% 7.35% 7.60% 7.45% 11/01/ % $7.50 Short term trading fees of 1% for shares held less Fidelity Conservative Income Bond Fund 0.95% 0.70% 0.61% * 03/03/ % $4.00 BBgBarc 3-6 Mo Tsy 0.48% 0.19% 0.19% * Fidelity Corporate Bond Fund 6.49% 4.17% 5.61% * 05/04/ % $4.50 BBgBarc Credit Bond 5.63% 3.85% 4.75% *

24 Asset Class: Bonds (cont'd) Fidelity Floating Rate High Income Fund S&P/LSTA Lev Perf Loan 9.92% 10.36% 3.90% 5.41% 3.91% 4.83% 08/16/ % $7.10 Short term trading fees of 1% for shares held less than 60 days Fidelity Focused High Income Fund BofA ML BB US HY Const 10.94% 13.44% 5.39% 7.19% 5.50% 7.61% 09/08/ % $8.50 Short term trading fees of 1% for shares held less Fidelity Global Bond Fund 2.65% -0.59% * 05/22/ % $11.40 BBgBarc Glb Agg GDP Wtd 2.16% 0.46% * Fidelity Global High Income Fund BofA ML Glb HY & Emrg Mkt 11.89% 11.49% 6.54% 6.32% 4.87% * 5.11% * 05/11/ % $12.00 Short term trading fees of 1% for shares held less Fidelity GNMA Fund 1.63% 1.94% 4.51% 11/08/ % $4.50 BBgBarc GNMA 1.56% 1.81% 4.35% Fidelity Government Income Fund BBgBarc Government Bond 1.05% 1.05% 1.38% 1.22% 3.96% 3.86% 04/04/ % $4.50 Fidelity High Income Fund BofA ML US HY/HY Const Bl 15.97% 17.49% 6.43% 7.35% 6.62% 7.45% 08/29/ % $7.30 Short term trading fees of 1% for shares held less Fidelity Inflation-Protected Bond Fund 4.36% 0.45% 3.64% 06/26/ % $4.50 BBgBarc US TIPS 4.68% 0.89% 4.36% Fidelity Inflation-Protected Bond Index Fund - Premium Class 4.73% 0.14% * 05/16/ % $0.90 BBgBarc US TIPS 4.68% 0.24% * Fidelity Intermediate Bond Fund 2.76% 2.19% 3.85% 05/23/ % $4.50 BBgBarc Int Govt/Cr Bond 2.08% 1.85% 3.84%

25 Asset Class: Bonds (cont'd) Fidelity Intermediate Government Income Fund 0.88% 0.99% 3.38% 05/02/ % $4.50 BBgBarc Int Gov bond 1.05% 1.04% 3.42% Fidelity Intermediate Treasury Bond Index Fund - Premium Class 0.96% 1.49% 4.89% 12/20/ % $0.90 BBgBarc 5-10 TSY 1.18% 1.61% 5.03% Fidelity International Bond Fund 1.37% -1.92% * 05/22/ % $10.80 BBgBarc GlbAgxUSD GDP Wt 1.08% -1.01% * Fidelity Investment Grade Bond Fund 5.33% 2.75% 4.01% 08/06/ % $4.50 BBgBarc U.S. Agg Bond 2.65% 2.23% 4.34% Fidelity Limited Term Government Fund 0.58% 0.60% 2.59% 11/10/ % $4.50 BBgBarc 1-5 Yr Govt 1.02% 0.80% 2.76% Fidelity Long-Term Treasury Bond Index Fund - Premium Class 1.12% 2.40% 6.53% 12/20/ % $0.90 BBgBarc US LT Treasury 1.33% 2.52% 6.68% Fidelity Mortgage Securities Fund 1.86% 2.39% 3.58% 12/31/ % $4.50 BBgBarc MBS 1.67% 2.06% 4.28% Fidelity New Markets Income Fund JPM EMBI Global 14.70% 10.19% 6.14% 5.44% 7.26% 6.75% 05/04/ % $8.60 Short term trading fees of 1% for shares held less Fidelity Short-Term Bond Fund 1.45% 1.20% 1.66% 09/15/ % $4.50 BBgBarc 1-3 Gov/Cred 1.28% 0.92% 2.44% Fidelity Short-Term Treasury Bond Index Fund - Premium Class 0.87% 0.67% 2.66% 12/20/ % $0.90 BBgBarc 1-5 TSY 1.02% 0.77% 2.77%

26 Asset Class: Bonds (cont'd) Fidelity Strategic Income Fund 8.76% 4.33% 5.76% 05/01/ % $7.00 BBgBarc US Universal 3.91% 2.78% 4.57% Strategic Advisers Core Income Multi-Manager Fund 3.63% 2.41% * 06/19/ % $10.00 BBgBarc U.S. Agg Bond 2.65% 1.95% * Strategic Advisers Income Opportunities Fund of Funds BofA ML US HY Const 14.34% 17.49% 6.29% * 6.75% * 06/19/ % $22.20 Short term trading fees of 1% for shares held less = Not Applicable/None -- = Not Available ^ Some outside investment and vendor information may not be available to Fidelity. When "" does not appear and no shareholder fee is shown, it is due to the fact that our recordkeeping system does not have a shareholder fee(s) on file. Nevertheless, there may be shareholder fees associated with the investment option. If a shareholder fee is shown, please keep in mind there may be other fees associated with the investment that our recordkeeping system does not have on file. More information may be found in the prospectus and/or other investment-related information, as well as by contacting the outside investment manager or vendor directly. Investment trading in this investment option and/or other investment options subject to such restrictions will result in the limitation or prohibition of additional purchases (other than contributions and loan repayments) for 85 calendar days; additional excessive trading will result in a limitation of one exchange day per calendar quarter for a 12-month period. Additional Investment Information * Performance provided is Life of Fund, which is since the inception date noted, when the investment option has been in existence for less than 10 years. Life of fund figures are from the inception date to the period shown. For unitized funds, the inception date shown may be that of the fund s underlying investment option. For non-mutual fund pools and trusts whose strategies may be offered to multiple clients and whose returns may be based on a composite, the inception date shown may be the beginning date of the composite s returns. Total returns are historical and include change in share price and reinvestment of dividends and capital gains, if any. These figures do not include the effect of sales charges, if any, as these fees are waived for contributions made through your retirement plan. If sales charges were included, returns would have been lower. The current yield reflects the current earnings of the fund, while the total return refers to a specific past holding period. The 7-Day Yield is based on a calculation prescribed by the SEC. It is the average income return over the previous seven days, assuming the rate stays the same for one year and that dividends are reinvested. It is the fund s total income net of expenses, divided by the total number of outstanding shares. This yield does not allow for the inclusion of capital gains or losses. Please see the Additional Disclosure Information section at the back of this Notice for additional information, including performance and index disclosures. Expense ratio is a measure of what it costs to operate an investment, expressed as a percentage of its assets, as a dollar amount, or in basis points. These are costs the investor pays through a reduction in the investment s rate of return, and are required to be disclosed on the chart as a gross amount. For a mutual fund, the gross expense ratio is the total annual fund or class operating expenses (before waivers or reimbursements) paid by the fund. Where the investment option is not a mutual fund, the figure displayed in the expense ratio field is intended to reflect similar information, but may have been calculated using methodologies that differ from those used for mutual funds. Mutual fund data has been drawn from the most recent prospectus and has been provided by FMR LLC for Fidelity mutual funds and Morningstar, LLC for non-fidelity mutual funds. For non-mutual fund investment options, the information has been provided by Morningstar, LLC, the product s investment manager or trustee, the plan sponsor or other third party. In certain instances, there may be fee waivers and/or expense reimbursements, which could result in a temporary reduction to the gross expense ratios listed in the chart. More information is available online at (Password: 82205). Investment Risk Additional information regarding an investment option s risks, as well as its strategy and objectives, including a prospectus or fact sheet if available, can be obtained at (Password: 82205). Please consider all investment information prior to directing your Plan account. Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market or economic developments.

27 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. 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. Because of their narrow focus, sector funds may be more volatile than funds that diversify across many sectors. 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. Fidelity Freedom Funds are designed for investors expecting to retire around the year indicated in each fund s name. Except for the Freedom Income Fund, 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 Fund. The investment risks of each Fidelity Freedom Fund 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. Lower-quality debt securities involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry. Investments in smaller companies may involve greater risk than those in larger, more well known companies. Non-Fidelity Government Mutual Fund 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.

28 Additional Disclosure Information Generally, data on Fidelity mutual funds is provided by FMR LLC, data on non-fidelity mutual funds is provided by Morningstar, LLC, and data on non-mutual fund products is provided by Morningstar, LLC, the product s investment manager or trustee, the plan sponsor whose plan is offering the product to participants, or other third party. Although Fidelity believes data gathered from these third-party sources is reliable, it does not review such information and cannot warrant it to be accurate, complete, or timely. Fidelity is not responsible for any damages or losses arising from any use of this third-party information. Fidelity Contrafund - Class K : 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. Fidelity Extended Market Index Fund - Premium Class : Returns prior to October 14, 2005 are those of the Investor Class and reflect the Investor Class expense ratio. Had the Premium Class expense ratio been reflected, total returns would have been higher. Fidelity International Index Fund - Institutional Class : Returns prior to September 8, 2011 are those of the Premium Class and reflect the Premium Class expense ratio. Had the Institutional Class expense ratio been reflected, total returns would have been higher. Fidelity Total Market Index Fund - Institutional Class : Returns prior to September 8, 2011 are those of the Premium Class and reflect the Premium Class expense ratio. Had the Institutional Class expense ratio been reflected, total returns would have been higher. Goldman Sachs Small Cap Value Fund Institutional : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 08/15/1997. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 10/22/1992, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Janus Triton Fund Class N : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 05/31/2012. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 02/25/2005, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. MFS Value Fund Class R6 : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 05/01/2006. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 01/02/1996, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Oppenheimer Developing Markets Fund Class Y : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 09/07/2005. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 11/18/1996, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Fidelity U.S. Bond Index Fund - Institutional Class : Returns prior to May 4, 2011 are those of the Investor Class and reflect the Investor Class expense ratio. Had the Institutional Class expense ratio been reflected, total returns would have been higher. Metropolitan West Total Return Bond Fund Plan Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 07/29/2011. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 03/31/1997, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Deutsche Core Equity Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 08/19/2002. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 05/31/1929, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Deutsche CROCI Equity Dividend Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 08/19/2002. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 03/18/1988, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Deutsche CROCI International Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 12/29/2000. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 06/18/1953, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Deutsche Emerging Markets Equity Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 03/03/2008. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 05/08/1996, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Deutsche Global Growth Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 08/26/2008. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 07/23/1986, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns.

29 Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Deutsche Global Small Cap Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 08/26/2008. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 09/10/1991, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Deutsche Gold & Precious Metals Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 03/03/2008. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 09/02/1988, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Deutsche Gold & Precious Metals Fund Institutional Class : Additional Risk Information: The Fund 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. Deutsche Large Cap Focus Growth Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 12/29/2000. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 05/15/1991, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Deutsche Index Fund Class S : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 08/29/1997. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 08/29/1997, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Fidelity 500 Index Fund - Institutional Class : Returns prior to May 4, 2011 are those of the Premium Class and reflect the Premium Class expense ratio. Had the Institutional Class expense ratio been reflected, total returns would have been higher. Fidelity Blue Chip Growth Fund - Class K : 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. Fidelity Capital Appreciation Fund - Class K : 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. Fidelity Disciplined Equity Fund - Class K : 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. Fidelity Diversified International Fund - Class K : 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. Fidelity Dividend Growth Fund - Class K : 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. Fidelity Emerging Asia Fund : Prior to December 1, 2010, Fidelity Emerging Asia Fund 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. Fidelity Emerging Europe, Middle East, Africa (EMEA) Fund : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Fidelity Emerging Markets Fund - Class K : 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. Fidelity Equity Dividend Income Fund - Class K : 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. Fidelity Equity-Income Fund - Class K : 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. Fidelity Export and Multinational Fund - Class K : 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. Fidelity Fund - Class K : 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. Fidelity Growth & Income - Class K : 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. Fidelity Growth Company Fund - Class K : 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. Fidelity Growth Discovery Fund - Class K : 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.

30 Fidelity Growth Strategies Fund - Class K : 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. Fidelity Independence Fund - Class K : 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. Fidelity International Discovery Fund - Class K : 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. Fidelity Leveraged Company Stock Fund - Class K : 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. Fidelity Low-Priced Stock Fund - Class K : 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. Fidelity Magellan Fund - Class K : 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. Fidelity Mid-Cap Stock Fund - Class K : 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. Fidelity Nasdaq Composite Index Fund : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Fidelity OTC - Class K : 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. Fidelity Overseas Fund - Class K : 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. Fidelity Select Communications Equipment : 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 s operated under different investment policies, and compared their performance to different benchmarks. The fund s historical performance might not represent its current investment policies. Fidelity Select Consumer Discretionary : 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 s operated under different investment policies, and compared their performance to different benchmarks. The fund s historical performance might not represent its current investment policies. Fidelity Select Consumer Finance : Prior to December 1, 2010, Select Consumer Finance 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. Fidelity Select Consumer Staples : 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 s operated under different investment policies, and compared their performance to different benchmarks. The fund s historical performance might not represent its current investment policies. Fidelity Select Environment and Alternative Energy : Prior to July 1, 2010, the fund was named Fidelity Select Environmental, 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. Fidelity Select Health Care Services : As of January 1, 2016, the name of this fund was changed from Fidelity Select Medical Delivery. Fidelity Select Industrials : 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 s operated under different investment policies, and compared their performance to different benchmarks. The fund s historical performance might not represent its current investment policies. Fidelity Select IT Services : 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 s operated under different investment policies, and compared their performance to different benchmarks. The fund s historical performance might not represent its current investment policies. Fidelity Select Materials : 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 s operated under different investment policies, and compared their performance to different benchmarks. The fund s historical performance might not represent its current investment policies. Fidelity Select Semiconductors : As of October 1, 2016, this fund changed its name from Fidelity Select Electronics. Fidelity Select Software and IT Services : As of January 1, 2016, the name of this fund was changed from Fidelity Select Software and Computer Services. Fidelity Select Utilities : 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 s operated under different investment policies, and compared their performance to different benchmarks. The fund s historical performance might not represent its current investment policies. Fidelity Stock Selector All Cap Fund - Class K : 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. Fidelity Stock Selector Mid Cap Fund : 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. Fidelity Trend Fund : Prior to February 1, 2007, Trend Fund 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. Fidelity Value Discovery Fund - Class K : 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

31 class. Had K class expenses been reflected in the returns shown, total returns would have been higher. Fidelity Value Fund - Class K : 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. Fidelity Value Strategies Fund - Class K : 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. Strategic Advisers Emerging Markets Fund of Funds : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Strategic Advisers International Multi-Manager Fund : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Strategic Advisers Small-Mid Cap Multi-Manager Fund : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Deutsche Global Income Builder Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 07/03/1995. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 03/02/1964, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Fidelity Balanced Fund - Class K : 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. Fidelity Four-in-One Index Fund : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Fidelity Global Strategies Fund : Prior to June 1, 2011, the fund 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. Fidelity Puritan Fund - Class K : 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. Deutsche Core Plus Income Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 06/25/2001. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 04/24/1928, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Deutsche GNMA Fund Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 02/02/2009. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 07/14/2000, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself. Fidelity Advisor Total Bond Fund - Class Z : On December 22, 2014, an initial offering of the Class Z took place. Returns and expenses prior to that date are those of the Institutional Class. Had Class Z expenses been reflected in the returns shown, total returns would have been higher. Fidelity Conservative Income Bond Fund : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Fidelity Floating Rate High Income Fund : Initial offering of the Fidelity Floating Rate High Income Fund took place on September 19, Returns and expenses prior to that date are those of the Fidelity Advisor Floating Rate High Income Fund - Institutional Class. Had Fidelity Floating Rate High Income Fund expenses been reflected in the returns shown, total returns would have been higher. Fidelity Global Bond Fund : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Fidelity Global High Income Fund : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Fidelity International Bond Fund : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Strategic Advisers Core Income Multi-Manager Fund : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Strategic Advisers Income Opportunities Fund of Funds : Fidelity is voluntarily reimbursing a portion of the fund s expenses. If Fidelity had not, the returns would have been lower. Benchmarks Benchmark indices are unmanaged, and you cannot invest directly in an index. More information on benchmarks for the investment options through Fidelity is available online at (Password: 82205). Fidelity Investments Institutional Operations Company, Inc., 245 Summer Street, Boston MA FMR LLC. All rights reserved Deutsche Enhanced Emerging Markets Fixed Income Institutional Class : The analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class s actual inception of 03/03/2008. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 12/31/1993, adjusted to reflect the fees and expenses of this share class (when this share class s fees and expenses are higher.) Please refer to a fund s prospectus for information regarding fees and expenses. These adjusted historical returns

32 January 2017 Re: Changes to the Duke Retirement Plans with Fidelity Investments The Duke University Faculty and Staff Retirement Plan Duke University 457(b) Deferred Compensation Plan Commissioned Police Officer s Supplemental Retirement Plan (CPOP) Dear Retirement Plan Participant: Duke periodically reviews the Duke Retirement Plans to make sure they continue to help you meet your retirement and financial goals. As a result of a recent review, Duke has decided to make the following change to the Duke Retirement Plan s investment lineup: Add Janus Triton Fund Class N to the Plans The change described on the following page will take place without any action required on your part. Go to the What Do I Need to Do? section to learn more. Sincerely, Fidelity Investments Go Paperless Tired of mailbox clutter? You can significantly reduce paper mail by providing us your address and updating your mail preferences to electronic delivery. Log on to Fidelity NetBenefits at and go to Your Profile. Page 1 of 1