Optional One-Time Transfer in-kind to BrokerageLink Transfer instructions for eligible mutual funds at Fidelity and Vanguard

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1 MY DISCOVERY MY DESTINY MY DUKE DUKE FACULTY AND STAFF RETIREMENT PLAN Optional One-Time Transfer in-kind to BrokerageLink Transfer instructions for eligible mutual funds at Fidelity and Vanguard As part of the Duke Retirement Plan investment option changes, eligible Fidelity and Vanguard investment options may be transferred in-kind to the same fund(s) in a self-directed brokerage account. An in-kind transfer means your holdings will generally not be bought or sold; your holdings will transfer to a BrokerageLink account (exceptions apply, see below). This optional one-time transfer in-kind is available to eligible mutual funds at Fidelity and Vanguard only. If you choose to participate in this one-time transfer in-kind option, it will apply to ALL eligible balances. Refer to the following Fidelity and/or Vanguard sections to view mutual funds eligible/ineligible for the onetime transfer in-kind. Mutual funds with institutional share classes are not offered in BrokerageLink and are not eligible for a transfer in-kind. However, as an exception and part of the option for this one-time transfer in-kind to BrokerageLink, the institutional share class will be liquidated and reinvested in the retail share class within BrokerageLink. To take advantage of the one-time in-kind transfer to Fidelity BrokerageLink, you must open a BrokerageLink account. When you open a BrokerageLink account, this will serve as your request to transfer in-kind all of your eligible mutual funds balances held at Fidelity and/or Vanguard into a self-directed brokerage account. When you open a BrokerageLink account, you will receive additional information regarding available investment choices, which you should read before making any investment decisions. While there is no annual cost to establish the BrokerageLink account or to participate in the optional onetime transfer in-kind, if you purchase a mutual fund through BrokerageLink prior to January 2019, mutual fund minimums generally will still apply. In addition, any contributions made to or account balances transferred to BrokerageLink (aside from the one-time transfer in-kind), are subject to the BrokerageLink transaction costs as well as the minimum transfer amount requirement. Prior to initiating a trade in a BrokerageLink account, you should review any associated fees. For assistance to establish a BrokerageLink account, please contact Fidelity at or visit to log on to Fidelity NetBenefits. The following information will assist with establishing a BrokerageLink account. Steps to Consider: 1) Review the section How balances will transfer in January 2019: Investment option in the Duke Retirement Redesign Decision Guide to learn how your current mutual fund account balances at Fidelity and Vanguard will be affected. 2) Review the following Fidelity and/or Vanguard sections for mutual funds eligible/ineligible for the one-time transfer in-kind. 3) Contact Fidelity at to discuss this option. 4) Open a BrokerageLink account online or by paper form, if you choose to participate in the optional one-time in-kind transfer to Fidelity BrokerageLink. Rev. July 2018

2 Fidelity The following current investment options in the Duke Retirement Plan at Fidelity may no longer be available beginning in January However, these options may be eligible for the one-time transfer in-kind to BrokerageLink. Otherwise, balances in the current investment option listed below will transfer to the new lineup according to the Duke Retirement Redesign Decision Guide, section titled How balances will transfer in January 2019: Investment option. Funds are listed in alphabetical order. CURRENT INVESTMENT OPTION AT FIDELITY Deutsche CROCI Equity Dividend Fund Class R6 KDHTX, to retail share class Deutsche CROCI International Fund Class R6 SUIRX, to retail share class Deutsche Core Equity Fund Class R6 SUWZX, to retail share class Deutsche Emerging Markets Equity Fund Institutional Class Deutsche Emerging Markets Fixed Income Fund - Class Institutional SEKIX SZEIX Deutsche GNMA Fund Institutional Class GIGGX Deutsche Global Income Builder Fund Class R6 KTRZX, to retail share class Deutsche Global Small Cap Fund Class R6 KGDZX, to retail share class Deutsche High Conviction Global Bond Fund - Class S* SSTGX Deutsche International Growth Fund - Class Institutional SGQIX Deutsche Large Cap Focus Growth Fund Institutional Class SGGIX Deutsche Latin America Equity Fund Class S* SLAFX Deutsche Mid Cap Value Fund Institutional Class MIDIX Deutsche S&P 500 Index Fund Class R6 SXPRX No, balance will transfer according to Deutsche Total Return Bond Fund Institutional Class SZIIX Fidelity Asset Manager 20% FASIX Fidelity Asset Manager 30% FTANX Fidelity Asset Manager 40% FFANX Fidelity Asset Manager 50% FASMX Fidelity Asset Manager 60% FSANX Fidelity Asset Manager 70% FASGX Fidelity Asset Manager 85% FAMRX Fidelity 500 Index Fund - Institutional Class FXSIX Fidelity Balanced Fund - Class K FBAKX, to retail share class Fidelity Blue Chip Growth K6 Fund FBCGX, to retail share class Fidelity Blue Chip Value Fund FBCVX 2

3 Fidelity Canada Fund FICDX Fidelity Capital & Income Fund FAGIX Fidelity Capital Appreciation Fund - Class K FCAKX, to retail share class Fidelity China Region Fund FHKCX Fidelity Conservative Income Bond Fund - Institutional Class FCNVX Fidelity Convertible Securities Fund FCVSX Fidelity Corporate Bond Fund FCBFX Fidelity Disciplined Equity Fund - Class K FDEKX, to retail share class Fidelity Diversified International K6 Fund FKIDX, to retail share class Fidelity Dividend Growth Fund - Class K FDGKX, to retail share class Fidelity Emerging Asia Fund FSEAX Fidelity Emerging Europe, Middle East, Africa (EMEA) Fund FEMEX Fidelity Emerging Markets Fund - Class K FKEMX, to retail share class Fidelity Equity Dividend Income Fund - Class K FETKX, to retail share class Fidelity Equity-Income Fund - Class K FEIKX, to retail share class Fidelity Europe Fund FIEUX Fidelity Export and Multinational Fund - Class K FEXKX, to retail share class Fidelity Extended Market Index Fund - Premium Class FSEVX Fidelity Floating Rate High Income Fund FFRHX Fidelity Focused High Income Fund FHIFX Fidelity Focused Stock Fund FTQGX Fidelity Four-in-One Index Fund FFNOX Fidelity Fund - Class K FFDKX, to retail share class Fidelity GNMA Fund FGMNX Fidelity Global Commodity Stock Fund FFGCX Fidelity Global Credit Fund FGBFX Fidelity Global Equity Income Fund FGILX Fidelity Global High Income Fund FGHNX Fidelity Government Income Fund FGOVX Fidelity Growth & Income Portfolio - Class K FGIKX, to retail share class Fidelity Growth Company Fund - Class K FGCKX, to retail share class Fidelity Growth Discovery Fund - Class K FGDKX, to retail share class Fidelity Growth Strategies K6 Fund FSKGX, to retail share class Fidelity High Income Fund SPHIX Fidelity Independence Fund - Class K FDFKX, to retail share class Fidelity Inflation-Protected Bond Fund FINPX 3

4 Fidelity Inflation-Protected Bond Index Fund - Premium Class FSIYX Fidelity Intermediate Bond Fund FTHRX Fidelity Intermediate Government Income Fund FSTGX Fidelity Intermediate Treasury Bond Index Fund - Premium Class FIBAX Fidelity International Capital Appreciation K6 Fund FAPCX, to retail share class Fidelity International Discovery Fund - Class K FIDKX, to retail share class Fidelity International Enhanced Index Fund FIENX Fidelity International Growth Fund FIGFX Fidelity International Index Fund - Institutional Class FSPNX Fidelity International Real Estate Fund FIREX Fidelity International Small Cap Opportunities Fund FSCOX Fidelity International Value Fund FIVLX Fidelity Investment Grade Bond Fund FBNDX Fidelity Japan Fund FJPNX Fidelity Japan Smaller Companies Fund FJSCX Fidelity Large Cap Core Enhanced Index Fund FLCEX Fidelity Large Cap Growth Enhanced Index Fund FLGEX Fidelity Large Cap Stock K6 Fund FCLKX, to retail share class Fidelity Large Cap Value Enhanced Index Fund FLVEX Fidelity Latin America Fund FLATX Fidelity Leveraged Company Stock Fund - Class K FLCKX, to retail share class Fidelity Limited Term Government Fund FFXSX Fidelity Long-Term Treasury Bond Index Fund - Premium Class FLBAX Fidelity Magellan Fund - Class K FMGKX, to retail share class Fidelity Mega Cap Stock Fund FGRTX Fidelity Mid Cap Enhanced Index Fund FMEIX Fidelity Mid Cap Value Fund FSMVX Fidelity Mid Cap Value K6 Fund FCMVX, to retail share class Fidelity Mortgage Securities Fund FMSFX Fidelity Nasdaq Composite Index Fund FNCMX Fidelity New Markets Income Fund FNMIX Fidelity New Millennium Fund FMILX Fidelity Nordic Fund FNORX Fidelity OTC Portfolio - Class K FOCKX, to retail share class Fidelity Overseas Fund - Class K FOSKX, to retail share class Fidelity Pacific Basin Fund FPBFX 4

5 Fidelity Puritan Fund - Class K FPUKX, to retail share class Fidelity Real Estate Income Fund FRIFX Fidelity Real Estate Investment Portfolio FRESX Fidelity Select Air Transportation Portfolio FSAIX Fidelity Select Automotive Portfolio FSAVX Fidelity Select Banking Portfolio FSRBX Fidelity Select Biotechnology Portfolio FBIOX Fidelity Select Brokerage and Investment Management Portfolio FSLBX Fidelity Select Chemicals Portfolio FSCHX Fidelity Select Communications Equipment Portfolio FSDCX Fidelity Select Computers Portfolio FDCPX Fidelity Select Construction and Housing Portfolio FSHOX Fidelity Select Consumer Discretionary Portfolio FSCPX Fidelity Select Consumer Finance Portfolio FSVLX Fidelity Select Consumer Staples Portfolio FDFAX Fidelity Select Defense and Aerospace Portfolio FSDAX Fidelity Select Energy Portfolio FSENX Fidelity Select Energy Service Portfolio FSESX Fidelity Select Environment and Alternative Energy Portfolio FSLEX Fidelity Select Financial Services Portfolio FIDSX Fidelity Select Gold Portfolio FSAGX Fidelity Select Health Care Portfolio FSPHX Fidelity Select Health Care Services Portfolio FSHCX Fidelity Select IT Services Portfolio FBSOX Fidelity Select Industrials Portfolio FCYIX Fidelity Select Insurance Portfolio FSPCX Fidelity Select Leisure Portfolio FDLSX Fidelity Select Materials Portfolio FSDPX Fidelity Select Medical Technology and Devices Portfolio FSMEX Fidelity Select Multimedia Portfolio FBMPX Fidelity Select Natural Gas Portfolio FSNGX Fidelity Select Natural Resources Portfolio FNARX Fidelity Select Pharmaceuticals Portfolio FPHAX Fidelity Select Retailing Portfolio FSRPX Fidelity Select Semiconductors Portfolio FSELX Fidelity Select Software and IT Services Portfolio FSCSX 5

6 Fidelity Select Technology Portfolio FSPTX Fidelity Select Telecommunications Portfolio FSTCX Fidelity Select Transportation Portfolio FSRFX Fidelity Select Utilities Portfolio FSUTX Fidelity Select Wireless Portfolio FWRLX Fidelity Short-Term Bond Fund FSHBX Fidelity Short-Term Treasury Bond Index Fund - Premium Class FSBAX Fidelity Small Cap Discovery Fund FSCRX Fidelity Small Cap Enhanced Index Fund FCPEX Fidelity Small Cap Stock K6 Fund* FKICX Fidelity Stock Selector All Cap Fund - Class K FSSKX, to retail share class Fidelity Stock Selector Large Cap Value Fund FSLVX Fidelity Stock Selector Mid Cap Fund FSSMX Fidelity Stock Selector Small Cap Fund FDSCX Fidelity Strategic Dividend & Income Fund FSDIX Fidelity Strategic Real Return Fund FSRRX Fidelity Telecom and Utilities Fund FIUIX Fidelity Total Bond K6 Fund FTKFX, to retail share class Fidelity Total International Equity Fund FTIEX Fidelity Total Market Index Fund - Institutional Class FSKTX Fidelity Trend Fund FTRNX Fidelity U.S. Bond Index Fund - Institutional Class FXSTX Fidelity Value Discovery K6 Fund FDVKX, to retail share class Fidelity Value Fund - Class K FVLKX, to retail share class Fidelity Value Strategies Fund - Class K FVSKX, to retail share class Fidelity Worldwide Fund FWWFX Harbor International Fund Retirement Class HNINX, to retail share class Oppenheimer Developing Markets Fund Class I ODVIX, to retail share class Strategic Advisers Core Income Multi-Manager Fund Strategic Advisers Emerging Markets Fund of Funds Strategic Advisers Income Opportunities Fund of Funds Strategic Advisers International Multi-Manager Fund Strategic Advisers Small-Mid Cap Multi-Manager Fund FWHBX FLILX FSADX FMJDX FNAPX Virtus Ceredex Mid-Cap Value Equity Fund Class R6 SMVZX, to retail share class 6

7 Vanguard The following current investment options in the Duke Retirement Plan at Vanguard will no longer be available beginning January However, these options may be eligible for the one-time transfer in-kind to BrokerageLink. Otherwise, balances in the current investment option listed below will transfer to the new lineup according to the Duke Retirement Redesign Decision Guide, section titled How balances will transfer in January 2019: Investment option. Funds are listed in alphabetical order. CURRENT INVESTMENT OPTION AT FIDELITY Janus Henderson Triton Fund Class N JGMNX MassMutual Select Mid Cap Growth Fund Class I MEFZX Metropolitan West Total Return Bond Fund Plan Class MWTSX T. Rowe Price Growth Stock Fund I Class PRUFX Vanguard Balanced Index Fund VBAIX, to retail share class Vanguard Capital Opportunity Fund VHCAX Vanguard Capital Value Fund Investor Shares VCVLX Vanguard Convertible Securities Fund Investor Shares VCVSX Vanguard Developed Markets Index Fund VTMGX Vanguard Diversified Equity Fund Investor Shares VDEQX Vanguard Dividend Appreciation Index Fund VDADX Vanguard Dividend Growth Fund Investor Shares VDIGX Vanguard Emerging Markets Stock Index Fund Vanguard Energy Fund VEMIX VGELX, will transfer to in-kind to BrokerageLink and can be held or sold, however future purchases will not be allowed into this share class. Other share classes of this fund will be available to future purchases. Vanguard Equity-Income Fund VEIRX Vanguard European Stock Index Fund Vanguard Explorer Fund VEUSX VEXRX 7

8 Vanguard Extended Market Index Fund VIEIX Vanguard Federal Money Market Fund Investor Shares VMFXX Vanguard FTSE All-World ex-us Index Fund Vanguard FTSE All-World ex-us Small Capital Index Fund Investor Shares VFWAX VFSVX Vanguard FTSE Social Index Fund Investor Shares VFTSX Vanguard Global Equity Fund Investor Shares VHGEX Vanguard GNMA Fund Vanguard Growth and Income Fund VFIJX VGIAX Vanguard Growth Index Fund VIGIX, to retail share class Vanguard Health Care Fund Vanguard High Dividend Yield Index Fund Investor Shares Vanguard High-Yield Corporate Fund Vanguard Inflation-Protected Securities Fund Vanguard Institutional Index Fund Vanguard Institutional Target Retirement 2015 Fund Vanguard Institutional Target Retirement 2020 Fund Vanguard Institutional Target Retirement 2025 Fund Vanguard Institutional Target Retirement 2030 Fund Vanguard Institutional Target Retirement 2035 Fund Vanguard Institutional Target Retirement 2040 Fund VGHAX VHDYX VWEAX VIPIX VINIX VITVX VITWX VRIVX VTTWX VITFX VIRSX, to retail share class 8

9 Vanguard Institutional Target Retirement 2045 Fund Vanguard Institutional Target Retirement 2050 Fund Vanguard Institutional Target Retirement 2055 Fund Vanguard Institutional Target Retirement 2060 Fund Vanguard Institutional Target Retirement 2065 Fund Vanguard Institutional Target Retirement Income Fund Vanguard Intermediate-Term Bond Index Fund Vanguard Intermediate-Term Investment-Grade Fund Vanguard Intermediate-Term Treasury Fund VITLX VTRLX VIVLX VILVX VSXFX VITRX VBIMX VFIDX VFIUX No, will transfer in-kind to the core lineup, to retail share class Vanguard International Explorer Fund Investor Shares VINEX Vanguard International Growth Fund VWILX Vanguard International Value Fund Investor Shares VTRIX Vanguard Large Cap Index Fund Vanguard LifeStrategy Conservative Growth Fund Investor Shares VLCAX VSCGX Vanguard LifeStrategy Growth Fund Investor Shares VASGX Vanguard LifeStrategy Income Fund Investor Shares VASIX Vanguard LifeStrategy Moderate Growth Fund Investor Shares Vanguard Long-Term Bond Index Fund Vanguard Long-Term Investment-Grade Fund Vanguard Long-Term Treasury Fund VSMGX VBLLX VWETX VUSUX, to retail share class Vanguard Mid-Cap Growth Fund Investor Shares VMGRX 9

10 Vanguard Mid-Cap Growth Index Fund VMGMX 10 Vanguard Mid-Cap Index Fund VMCIX, to retail share class Vanguard Mid-Cap Value Index Fund VMVAX, to retail share class Vanguard Morgan Growth Fund Admiral Shares Vanguard Pacific Stock Index Fund Vanguard Precious Metals And Mining Fund Investor Shares VMRAX VPADX VGPMX Vanguard PRIMECAP Core Fund Investor Shares VPCCX Vanguard PRIMECAP Fund VPMAX Vanguard Real Estate Index Fund VGSNX Vanguard Selected Value Fund Investor Shares VASVX Vanguard Short-Term Bond Index Fund Vanguard Short-Term Federal Fund Vanguard Short-Term Investment-Grade Fund Vanguard Short-Term Treasury Fund Vanguard Small-Cap Growth Index Fund VBITX VSGDX VFSIX VFIRX VSGIX, to retail share class, to retail share class, to retail share class Vanguard Small-Cap Index Fund VSCIX, to retail share class Vanguard Small-Cap Value Index Fund VSIIX, to retail share class Vanguard Star Fund Investor Shares VGSTX Vanguard Strategic Equity Fund Investor Shares VSEQX Vanguard Strategic Small-Cap Equity Fund Investor Shares Vanguard Total Bond Market Index Fund Vanguard Total International Stock Index Fund VSTCX VBTIX VTSNX

11 Vanguard Total Stock Market Index Fund VITSX 11, to retail share class Vanguard Total World Stock Index Investor Shares VTWSX Vanguard U.S. Growth Fund Admiral Shares VWUAX Vanguard U.S. Value Fund Investor Shares VUVLX Vanguard Value Index Fund VIVIX, to retail share class Vanguard Wellesley Income Fund Admiral Shares Vanguard Wellington Fund Admiral Shares Vanguard Windsor Fund Admiral Shares Vanguard Windsor II Fund Admiral Shares VWIAX VWENX VWNEX VWNAX How to open a BrokerageLink Account Online Log on to NetBenefits at From the home page, click the Quick Links drop-down menu next to your plan name, select BrokerageLink. Review the pertinent information in the sections 1 and 2, then click Open an Account. The system will prefill information already in your profile. You will be asked to confirm the accuracy of all personal information, click Confirm My Information. Open, read and save each of the documents provided. Select to agree to the electronic documents provided. On the same page click Open Account. A Fidelity BrokerageLink account setup is now complete and an account is now open. The brokerage account number is provided. You may choose to Fund the Account if you d like to exchange investments from your standard plan line up or start making contributions into the BrokerageLink account. If you are using the BrokerageLink account to transfer assets in kind during the transition to Fidelity, in order to take advantage of the waiving of fund minimums for the in-kind transfer, you should not fund the account and can select Return to the Account Summary page. Once the brokerage account is established, Tier 3 and BROKERAGELINK will show under Investment Choices, and the brokerage fund BLNK will appear as an investment selection under Exchanges/Mixes via the NetBenefits website. There will also be a new Brokerage Account on the NetBenefits home page.

12 How to open A BrokerageLink Account by Paper form Obtain a BrokerageLink Kit from Fidelity by phone request or one-on-one appointment or you can visit the Duke website at for the electronic form to download. The Kit consists of: Participant Acknowledgement Form, Brochure, Fact Sheet, Fee and Commission Schedule. Complete the first three pages of the Participant Acknowledgment Form. Use this information to fill out Section 1 of the form: o Plan Number: o Name of Plan: Duke Faculty and Staff Retirement Plan Remove the pages containing the Participant Terms and Conditions and retain them for your records. Sign the completed form in Section 2, make a copy for your records, and mail the form before January Fidelity will establish a brokerage account within hours from receipt of your completed in good order application. You may log on to the NetBenefits website to confirm an account is established. Once the brokerage account is established, Tier 3 and BROKERAGELINK will show under Investment Choices, and the brokerage fund BLNK will appear as an investment selection under Exchanges/Mixes via the NetBenefits website. There will also be a new Brokerage Account on the NetBenefits home page. Note: When Fidelity establishes a BrokerageLink account on your behalf, you will begin receiving communications about the new account. You may begin receiving these communications while the Plan changes are still in process. Additional resources for Fidelity BrokerageLink For assistance to establish a BrokerageLink account, please contact Fidelity at or visit to log on to Fidelity NetBenefits. Before investing, consider the funds investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully. Investing involves risk, including risk of loss. BrokerageLink includes investments beyond those in your plan s lineup. The plan fiduciary neither evaluates nor monitors the investments available through BrokerageLink. It is your responsibility to ensure that the investments you select are suitable for your situation including your goals, time horizon, and risk tolerance. See the fact sheet and commission schedule for applicable fees and risks. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI FMR LLC. All rights reserved