Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp.

Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Semi-Annual Management Report of Fund Performance May 31, 217

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

Semi-Annual Management Report of Fund Performance as at May 31, 217 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. This semi-annual management report of fund performance contains financial highlights but does not contain the complete semi-annual financial statements for the investment fund. You can get a copy of the semi-annual financial statements at your request, and at no cost, by calling 1-8-263-477, by writing to us at Fidelity Investments, 483 Bay St. Suite 3, Toronto ON MG 2N7 or by visiting our website at www.fidelity.ca or SEDAR at www.sedar.com. Securityholders may also contact us using one of these methods to request a copy of the investment fund s proxy voting policies and procedures, proxy voting disclosure record or quarterly portfolio disclosure relating to the investment fund. Management Discussion of Fund Performance Results of Operations Fidelity Corporate Bond Class (Fund) provides exposure to fixed-income securities of Canadian and foreign corporations. The Fund seeks a return similar that of its underlying fund, Fidelity Corporate Bond Fund (Underlying Fund), also managed by Fidelity, by investing substantially all of its assets in securities of the Underlying Fund. Fidelity Corporate Bond Class, Series B, returned 4.2% for the six-month period 217, after fees and expenses. The net returns of other series of this Fund are similar to those of Series B, except for differences attributable to expense structures. The broad Canadian corporate bond market, as represented by the FTSE TMX Canada All Corporate Bond Index (Capped), returned 3.7%, in Canadian dollar terms, for the period under review. Market Overview: In Canadian fixed income, corporate bonds generally outperformed government bonds, primarily driven by positive expectations resulting from proposed policies changes under the new U.S. administration. The U.S. Federal Reserve (the Fed) raised its target Fed funds rate again in March, from.7% to 1.%; the U.S. economy maintained positive growth momentum, with the unemployment rate moving lower and inflation gradually moving toward the Fed s target of 2.%. In Canada, the Bank of Canada (the BoC) kept monetary policy unchanged and maintained its cautious tone. The BoC continued to focus on the excess capacity within the economy and uncertainties about the new U.S. administration s trade policies and timing of tax reform and fiscal stimulus. Factors Affecting Performance: The Fund outperformed its benchmark, the FTSE TMX Canada All Corporate Bond Index (Capped). The Underlying Fund s investments in high-yield bonds and U.S. investment-grade bonds contributed to performance. In contrast, the Underlying Fund s lower-than-benchmark exposure to the energy and infrastructure sectors detracted from relative performance. Positioning Changes: The Underlying Fund s portfolio managers, Catriona Martin and Sri Tella, increased exposure to the financial sectors, where they believe valuations look attractive. The Underlying Fund continued to hold out-of-benchmark positions in government bonds in order to mitigate credit risk. The portfolio s allocation to high-yield bonds was decreased during the review period as the portfolio managers believe valuations became expensive. Effective July, 1, 217, the Fidelity Corporate Bond Class reduced its management fee by basis points across all series. Derivative Disclosure: During the period under review, the Underlying Fund invested in derivatives such as currency forwards, interest rate futures and swaps to manage various types of risk. More specifically, the portfolio managers used these derivatives primarily to hedge interest rate risk and foreign currency risk. Recent Developments The Underlying Fund s portfolio managers, Catriona Martin and Sri Tella, believe that the Canadian economy will continue to operate in a low-growth, low-inflation environment. They anticipate that Canadian government bond yields should remain low in the near future, given the current economic backdrop. With credit spreads having narrowed significantly over the past year, and volatility low, the portfolio managers have been reducing risk in the portfolio, preferring to wait for more attractive valuations. They continue to keep the portfolio highly liquid in order to be positioned to take advantage of buying opportunities. As at May 31, 217, the Underlying Fund had its largest exposure to the financials sector, among corporate issues. The Underlying Fund also had investments in U.S. high-yield bonds that are not represented in the benchmark. 1

Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Management Discussion of Fund Performance continued Independent Review Committee Effective February 28, 217, Helen M. Meyer retired from the Independent Review Committee and was replaced by James E. Cook as Chair. Also effective on that date, Frances Horodelski of Toronto, Ontario, became a member of the Independent Review Committee. 2

Related Party Transactions Manager and Portfolio Adviser The Fund is managed by Fidelity Investments Canada ULC (Fidelity). Fidelity is part of a broader group of companies collectively known as Fidelity Investments. Fidelity provides or arranges for the provision of all general management and administrative services required by the Fund in its day to day operations, bookkeeping, record keeping and other administrative services for the Fund. Fidelity is the portfolio adviser to the Fund and it provides investment advisory services to the Fund. Fidelity provides investment advice with respect to the Fund s investment portfolio and arranges for the acquisition and disposition of portfolio investments, including all necessary brokerage arrangements. The Fund pays Fidelity a monthly management and advisory fee for their services, based on the net asset value of each Series, calculated daily and payable monthly. The Fund paid Fidelity management and advisory fees of $24, for the period 217. Administration Fee Fidelity charges the Fund a fixed administration fee in place of certain variable expenses. Fidelity, in turn, pays all of the operating expenses of the Fund, other than certain specified fund costs (e.g. the fees and expenses of the Independent Review Committee, taxes, brokerage commissions and interest charges). The Fund pays an annual rate, which is calculated on a tiered basis, based on the net asset value of each Series, calculated daily and payable monthly. The Fund paid Fidelity administration fees of $24, for the period 217. 3

Financial Highlights The following tables show selected key financial information about the Fund and are intended to help you understand the Fund s financial performance for the period end of the years shown. This information is derived from the Fund s audited annual and/or unaudited semi-annual financial statements. Please see the front page for information about how you can obtain the Fund s annual or semi-annual financial statements. Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series A Periods ended November 3, 217 216 21 214 213 212 Net assets, beginning of period B $ 11.88 $ 11.2 $ 11.61 $ 1.99 $ 11.7 $ 1.3 Total revenue.19.22.4 Total expenses (excluding distributions) (.11) (.23) (.24) (.24) (.23) (.21) Realized gains (losses).1 (.4).1.93.1.76 Unrealized gains (losses).22.42 (.33) (.4).2.1 Total increase (decrease) from operations B.4.37 (.2).6 (.11).6 From net investment income (excluding dividends) From dividends From capital gains (.3) Return of capital Total distributions B,C (.3) Net assets, end of period B $ 11.81 $ 11.88 $ 11.2 $ 11.61 $ 1.98 $ 11.7 Net asset value (s) D $ 3,66 $ 4,874 $ 9,68 $ 17,243 $ 33,17 $ 46,3 Securities outstanding D 38,798 41,316 787,42 1,482,348 3,13,627 4,19,78 Management expense ratio E,F 1.89% 1.97% 2.3% 2.6% 2.% 1.97% Management expense ratio before waivers or absorptions E,F 1.9% 2.2% 2.6% 2.7% 2.% 1.97% Trading expense ratio G % % % % % % Portfolio turnover rate H 2.71% 1.99% 116.% 1,213.% 1,136.% 1,299.% Net asset value per security, end of period $ 11.886 $ 11.8788 $ 11.16 $ 11.616 $ 1.987 $ 11.143 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series B Periods ended November 3, 217 216 21 214 213 212 Net assets, beginning of period B $ 12.12 $ 11.71 $ 11.77 $ 11.9 $ 11.14 $ 1.39 Total revenue.2.21.47 Total expenses (excluding distributions) (.9) (.2) (.2) (.2) (.19) (.18) Realized gains (losses).14 (.).9.91.9.77 Unrealized gains (losses).24.31 (.39) (.1).1.1 Total increase (decrease) from operations B.49.28 (.3).7 (.9).68 From net investment income (excluding dividends) From dividends From capital gains (.8) Return of capital Total distributions B,C (.8) Net assets, end of period B $ 12.3 $ 12.12 $ 11.71 $ 11.77 $ 11.9 $ 11.14 Net asset value (s) D $ 11,99 $ 11,962 $ 24,689 $ 28,77 $ 38,181 $ 6,432 Securities outstanding D 922,39 984,988 2,17,883 2,442,87 3,441,92,1,214 Management expense ratio E,I 1.7% 1.6% 1.69% 1.7% 1.69% 1.67% Management expense ratio before waivers or absorptions E,I 1.6% 1.67% 1.7% 1.7% 1.69% 1.67% Trading expense ratio G % % % % % % Portfolio turnover rate H 2.71% 1.99% 116.% 1,213.% 1,136.% 1,299.% Net asset value per security, end of period $ 12.27 $ 12.12 $ 11.7116 $ 11.7719 $ 11.93 $ 11.1723 4

Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series F Periods ended November 3, 217 216 21 214 213 212 Net assets, beginning of period B $ 12.8 $ 12.8 $ 12.7 $ 11.31 $ 11.29 $ 1.46 Total revenue.21.2.48 Total expenses (excluding distributions) (.6) (.13) (.13) (.13) (.13) (.12) Realized gains (losses).14 (.4).9.92.7.77 Unrealized gains (losses).2.4 (.4) (.1).2.11 Total increase (decrease) from operations B.4.3.4.78 (.4).76 From net investment income (excluding dividends) From dividends From capital gains (.68) Return of capital Total distributions B,C (.68) Net assets, end of period B $ 12.44 $ 12.8 $ 12.8 $ 12.7 $ 11.3 $ 11.29 Net asset value (s) D $ 2,839 $ 3,33 $ 6,81 $ 7,84 $ 9,447 $ 1,963 Securities outstanding D 228,18 262,6 3,198 86,736 83,43 968,186 Management expense ratio E,I.97% 1.% 1.8% 1.1% 1.1% 1.9% Management expense ratio before waivers or absorptions E,I.99% 1.7% 1.1% 1.1% 1.1% 1.9% Trading expense ratio G % % % % % % Portfolio turnover rate H 2.71% 1.99% 116.% 1,213.% 1,136.% 1,299.% Net asset value per security, end of period $ 12.4436 $ 12.788 $ 12.843 $ 12.728 $ 11.387 $ 11.323 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series F Periods ended November 3, 217 216 21 214 213 212 Net assets, beginning of period B $ 13.79 $ 13.92 $ 14.6 $ 14.44 $ 1.17 $ 14.78 Total revenue.23.3.8 Total expenses (excluding distributions) (.6) (.1) (.16) (.16) (.16) (.17) Realized gains (losses).14 (.).1 1.1.12 1.7 Unrealized gains (losses).28.61 (.47).2.16 Total increase (decrease) from operations B.9.72.6.98 (.3) 1.7 From net investment income (excluding dividends) From dividends From capital gains (.74) Return of capital (.3) (.7) (.76) (.76) (.76) (.76) Total distributions B,C (1.9) (.7) (.76) (.76) (.76) (.76) Net assets, end of period B $ 13.29 $ 13.79 $ 13.92 $ 14.6 $ 14.44 $ 1.17 Net asset value (s) D $ 31 $ 343 $ 97 $ 1,137 $ 1,66 $ 1,742 Securities outstanding D 23,778 24,993 7,28 77,8 114,678 114,44 Management expense ratio E,I.96% 1.4% 1.7% 1.9% 1.9% 1.1% Management expense ratio before waivers or absorptions E,I.98% 1.% 1.8% 1.9% 1.9% 1.1% Trading expense ratio G % % % % % % Portfolio turnover rate H 2.71% 1.99% 116.% 1,213.% 1,136.% 1,299.% Net asset value per security, end of period $ 13.287 $ 13.7866 $ 13.919 $ 14.6478 $ 14.4433 $ 1.2166

Financial Highlights continued Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series T Periods ended November 3, 217 216 21 214 213 212 Net assets, beginning of period B $ 12.89 $ 13.1 $ 14.1 $ 13.98 $ 14.8 $ 14.62 Total revenue.2.19.4 Total expenses (excluding distributions) (.12) (.26) (.29) (.3) (.3) (.3) Realized gains (losses).1 (.6).11 1.11.1 1. Unrealized gains (losses).2.3 (.43) (.1).3.14 Total increase (decrease) from operations B.48.21 (.6).8 (.17).9 From net investment income (excluding dividends) From dividends From capital gains (.7) Return of capital (.33) (.66) (.76) (.76) (.76) (.76) Total distributions B,C (.9) (.66) (.76) (.76) (.76) (.76) Net assets, end of period B $ 12.49 $ 12.89 $ 13.1 $ 14.1 $ 13.98 $ 14.8 Net asset value (s) D $ 1,18 $ 1,476 $ 3,93 $,712 $ 7,666 $ 11,129 Securities outstanding D 92,773 114, 31,2 4,44 48,172 747,8 Management expense ratio E,F 1.92% 2.1% 2.6% 2.7% 2.% 1.99% Management expense ratio before waivers or absorptions E,F 1.97% 2.7% 2.9% 2.8% 2.% 1.99% Trading expense ratio G % % % % % % Portfolio turnover rate H 2.71% 1.99% 116.% 1,213.% 1,136.% 1,299.% Net asset value per security, end of period $ 12.4863 $ 12.8914 $ 13.1496 $ 14.1 $ 13.984 $ 14.8977 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series S Periods ended November 3, 217 216 21 214 213 212 Net assets, beginning of period B $ 13.23 $ 13.44 $ 14.2 $ 14.16 $ 14.98 $ 14.68 Total revenue.22.24.7 Total expenses (excluding distributions) (.1) (.22) (.24) (.2) (.2) (.2) Realized gains (losses).14 (.).1 1.1.13 1.7 Unrealized gains (losses).28.32 (.46).1.3.1 Total increase (decrease) from operations B.4.29 (.4).86 (.9).97 From net investment income (excluding dividends) From dividends From capital gains (.63) Return of capital (.33) (.67) (.76) (.76) (.76) (.76) Total distributions B,C (.96) (.67) (.76) (.76) (.76) (.76) Net assets, end of period B $ 12.79 $ 13.23 $ 13.44 $ 14.2 $ 14.1 $ 14.98 Net asset value (s) D $ 1,17 $ 1,17 $ 2,76 $ 3,4 $ 3,23 $,743 Securities outstanding D 86,661 88,7 21,6 213,36 228,418 382,313 Management expense ratio E,I 1.8% 1.6% 1.68% 1.71% 1.7% 1.64% Management expense ratio before waivers or absorptions E,I 1.6% 1.67% 1.69% 1.71% 1.7% 1.64% Trading expense ratio G % % % % % % Portfolio turnover rate H 2.71% 1.99% 116.% 1,213.% 1,136.% 1,299.% Net asset value per security, end of period $ 12.7889 $ 13.2282 $ 13.446 $ 14.23 $ 14.1611 $ 1.218 6

Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series E1 Periods ended November 3, 217 216 J Net assets, beginning of period B $ 1.4 $ 1. Total revenue.17.21 Total expenses (excluding distributions) (.8) (.14) Realized gains (losses).11 (.1) Unrealized gains (losses).22.3 Total increase (decrease) from operations B.42.9 From net investment income (excluding dividends) From dividends From capital gains (.1) Return of capital Total distributions B,C (.1) Net assets, end of period B $ 1.37 $ 1.4 Net asset value (s) D $ 4,498 $ 4,649 Securities outstanding D 433,798 444,743 Management expense ratio E,K 1.3% 1.6% Management expense ratio before waivers or absorptions E,K 1.6% 1.62% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 1.3689 $ 1.441 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series E1T Periods ended November 3, 217 216 J Net assets, beginning of period B $ 2. $ 2. Total revenue.33.4 Total expenses (excluding distributions) (.1) (.27) Realized gains (losses).23 (.2) Unrealized gains (losses).4 1.14 Total increase (decrease) from operations B.81 1.29 From net investment income (excluding dividends) From dividends From capital gains (.97) Return of capital (.1) (.84) Total distributions B,C (1.48) (.84) Net assets, end of period B $ 19.38 $ 2. Net asset value (s) D $ 823 $ 72 Securities outstanding D 42,8 36,23 Management expense ratio E,K 1.9% 1.61% Management expense ratio before waivers or absorptions E,K 1.62% 1.63% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 19.382 $ 2.48 7

Financial Highlights continued Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series E2 Periods ended November 3, 217 216 J Net assets, beginning of period B $ 1.46 $ 1. Total revenue.17.24 Total expenses (excluding distributions) (.8) (.13) Realized gains (losses).12 Unrealized gains (losses).2.3 Total increase (decrease) from operations B.41.4 From net investment income (excluding dividends) From dividends From capital gains (.1) Return of capital Total distributions B,C (.1) Net assets, end of period B $ 1.37 $ 1.46 Net asset value (s) D $ 1,4 $ 1,836 Securities outstanding D 148,92 17,4 Management expense ratio E,K 1.1% 1.6% Management expense ratio before waivers or absorptions E,K 1.4% 1.9% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 1.372 $ 1.463 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series E2T Periods ended November 3, 217 216 L Net assets, beginning of period B $ 19.8 $ 2. Total revenue.3.6 Total expenses (excluding distributions) (.14) (.6) Realized gains (losses).2.1 Unrealized gains (losses).3 (.19) Total increase (decrease) from operations B.76 (.17) From net investment income (excluding dividends) From dividends From capital gains (.97) Return of capital (.49) (.2) Total distributions B,C (1.46) (.2) Net assets, end of period B $ 18.91 $ 19.8 Net asset value (s) D $ 6 $ 71 Securities outstanding D 29,69 36,493 Management expense ratio E,M 1.44% 1.47% Management expense ratio before waivers or absorptions E,M 1.46% 1.49% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 18.987 $ 19.823 8

Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series E3 Periods ended November 3, 217 216 J Net assets, beginning of period B $ 1.46 $ 1. Total revenue.17.24 Total expenses (excluding distributions) (.8) (.13) Realized gains (losses).11 Unrealized gains (losses).23.37 Total increase (decrease) from operations B.43.48 From net investment income (excluding dividends) From dividends From capital gains (.1) Return of capital Total distributions B,C (.1) Net assets, end of period B $ 1.37 $ 1.46 Net asset value (s) D $ 2,62 $ 2,1 Securities outstanding D 198,843 191,399 Management expense ratio E,K 1.% 1.% Management expense ratio before waivers or absorptions E,K 1.2% 1.8% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 1.374 $ 1.46 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series E3T 217 N Net assets, beginning of period B $ 2. Total revenue.1 Total expenses (excluding distributions) (.6) Realized gains (losses).3 Unrealized gains (losses) (1.2) Total increase (decrease) from operations B (1.4) From net investment income (excluding dividends) From dividends From capital gains Return of capital (.42) Total distributions B,C (.42) Net assets, end of period B $ 2.38 Net asset value (s) D $ 1 Securities outstanding D 1 Management expense ratio E,O 1.37% Management expense ratio before waivers or absorptions E,O 1.39% Trading expense ratio G % Portfolio turnover rate H 2.71% Net asset value per security, end of period $ 2.384 9

Financial Highlights continued Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series E4 Periods ended November 3, 217 216 J Net assets, beginning of period B $ 1.46 $ 1. Total revenue.12.17 Total expenses (excluding distributions) (.8) (.12) Realized gains (losses).2 Unrealized gains (losses).14.6 Total increase (decrease) from operations B.38.11 From net investment income (excluding dividends) From dividends From capital gains (.2) Return of capital Total distributions B,C (.2) Net assets, end of period B $ 1.36 $ 1.46 Net asset value (s) D $ 2 $ 89 Securities outstanding D 1,93 8,2 Management expense ratio E,K 1.48% 1.47% Management expense ratio before waivers or absorptions E,K 1.% 1.49% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 1.363 $ 1.4623 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series E4T 217 N Net assets, beginning of period B $ 2. Total revenue.8 Total expenses (excluding distributions) (.8) Realized gains (losses).1 Unrealized gains (losses) 1.12 Total increase (decrease) from operations B 1.63 From net investment income (excluding dividends) From dividends From capital gains Return of capital (.42) Total distributions B,C (.42) Net assets, end of period B $ 2.38 Net asset value (s) D $ 1 Securities outstanding D 1 Management expense ratio E,O 1.48% Management expense ratio before waivers or absorptions E,O 1.1% Trading expense ratio G % Portfolio turnover rate H 2.71% Net asset value per security, end of period $ 2.3822 1

Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series P1 Periods ended November 3, 217 216 P Net assets, beginning of period B $ 1.41 $ 1. Total revenue.17.18 Total expenses (excluding distributions) (.) (.1) Realized gains (losses).11 (.1) Unrealized gains (losses).22 (.4) Total increase (decrease) from operations B.4.3 From net investment income (excluding dividends) From dividends From capital gains (.7) Return of capital Total distributions B,C (.7) Net assets, end of period B $ 1.3 $ 1.41 Net asset value (s) D $ 2,89 $ 2,449 Securities outstanding D 21,482 23,119 Management expense ratio E,Q.91%.99% Management expense ratio before waivers or absorptions E,Q.93% 1.% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 1.2966 $ 1.414 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series P1T Periods ended November 3, 217 216 P Net assets, beginning of period B $ 19.82 $ 2. Total revenue.32.38 Total expenses (excluding distributions) (.9) (.19) Realized gains (losses).22 (.3) Unrealized gains (losses).41.22 Total increase (decrease) from operations B.86.38 From net investment income (excluding dividends) From dividends From capital gains (1.9) Return of capital (.) (1.) Total distributions B,C (1.9) (1.) Net assets, end of period B $ 19.9 $ 19.82 Net asset value (s) D $ 49 $ 9 Securities outstanding D 28,797 28,228 Management expense ratio E,Q.91%.96% Management expense ratio before waivers or absorptions E,Q.92%.97% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 19.92 $ 19.8246 11

Financial Highlights continued Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series P2 Periods ended November 3, 217 216 P Net assets, beginning of period B $ 1.42 $ 1. Total revenue.17.23 Total expenses (excluding distributions) (.) (.1) Realized gains (losses).12 (.2) Unrealized gains (losses).24.38 Total increase (decrease) from operations B.48.49 From net investment income (excluding dividends) From dividends From capital gains (.7) Return of capital Total distributions B,C (.7) Net assets, end of period B $ 1.3 $ 1.42 Net asset value (s) D $ 664 $ 638 Securities outstanding D 64,48 61,244 Management expense ratio E,Q.88%.96% Management expense ratio before waivers or absorptions E,Q.9%.97% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 1.37 $ 1.42 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series P2T 217 N Net assets, beginning of period B $ 2. Total revenue.32 Total expenses (excluding distributions) (.6) Realized gains (losses).2 Unrealized gains (losses).48 Total increase (decrease) from operations B.76 From net investment income (excluding dividends) From dividends From capital gains Return of capital (.42) Total distributions B,C (.42) Net assets, end of period B $ 2.4 Net asset value (s) D $ 18 Securities outstanding D 7,731 Management expense ratio E,O.94% Management expense ratio before waivers or absorptions E,O.96% Trading expense ratio G % Portfolio turnover rate H 2.71% Net asset value per security, end of period $ 2.3983 12

Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series P3 Periods ended November 3, 217 216 R Net assets, beginning of period B $ 1.12 $ 1. Total revenue.2.21 Total expenses (excluding distributions) (.4) (.) Realized gains (losses).6.2 Unrealized gains (losses).27 (.) Total increase (decrease) from operations B.49.12 From net investment income (excluding dividends) From dividends From capital gains (.6) Return of capital Total distributions B,C (.6) Net assets, end of period B $ 1.1 $ 1.12 Net asset value (s) D $ 118 $ 43 Securities outstanding D 11,828 4,297 Management expense ratio E,S.91%.96% Management expense ratio before waivers or absorptions E,S.93%.97% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 1.9 $ 1.1234 Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Series P4 Periods ended November 3, 217 216 R Net assets, beginning of period B $ 1.13 $ 1. Total revenue.17.21 Total expenses (excluding distributions) (.4) (.) Realized gains (losses).11.2 Unrealized gains (losses).21 (.) Total increase (decrease) from operations B.4.13 From net investment income (excluding dividends) From dividends From capital gains (.7) Return of capital Total distributions B,C (.7) Net assets, end of period B $ 1.1 $ 1.13 Net asset value (s) D $ 2 $ 19 Securities outstanding D 2,24 1,911 Management expense ratio E,S.82%.86% Management expense ratio before waivers or absorptions E,S.83%.88% Trading expense ratio G % % Portfolio turnover rate H 2.71% 1.99% Net asset value per security, end of period $ 1. $ 1.128 13

Financial Highlights continued Financial Highlights Footnotes A This information is derived from the Fund s audited annual and/or unaudited interim financial statements. Periods beginning on or after January 1, 213 follow International Financial Reporting Standards (IFRS) and periods prior to January 1, 213 follow Canadian Generally Accepted Accounting Principles (Canadian GAAP). The net assets attributable to securityholders per security presented in the financial statements may differ from the net asset value calculated for fund pricing purposes. An explanation of these differences can be found in the notes to financial statements. For reporting periods ending after January 1, 217 per security comparative figures (except for net asset value per security, end of period) have been conformed to the current rounding presentation of two decimal places. As a result, reporting periods ending prior to January 1, 217 may not foot due to this rounding change. B C D E F G H I Net assets and distributions are based on the actual number of securities outstanding at the relevant time. The increase (decrease) from operations is based on the weighted average number of securities outstanding over the financial period. This table is not intended to be a reconciliation of beginning to ending net assets per security. Distributions were paid in cash or reinvested in additional securities of the Fund, or both, and excludes any applicable distributions of management fee reduction to securityholders. This information is provided as at period end of the year shown. Management expense ratio is based on total expenses (excluding distributions, commissions and other portfolio transaction costs) for the stated period and is expressed as an annualized percentage of daily average net asset values during the period, including the Fund s pro-rata share of estimated expenses incurred in any underlying investment fund, if applicable. Effective November 1, 214, the manager of the Fund has waived a portion of its administration fee and as of the date of the MRFP has continued to provide the Fund with such waivers. The manager may terminate the waiver at any time, at its sole discretion. It is not known when such waivers will be terminated. The trading expense ratio represents total commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net asset value during the period, including the Fund s pro-rata share of estimated trading costs incurred in any underlying investment fund, if applicable. The Fund s portfolio turnover rate indicates how actively the Fund s portfolio adviser manages its portfolio investments. A portfolio turnover rate of 1% is equivalent to the Fund buying and selling all of the securities in its portfolio once in the course of the year. The higher the Fund s portfolio turnover rate in a year, the greater the trading costs payable by the Fund in the year, and the greater chance of an investor receiving taxable capital gains in the year. There is not necessarily a relationship between a high portfolio turnover rate and the performance of the Fund. The portfolio turnover rate is calculated based on the lesser of purchases or sales of securities divided by the weighted average market value of the portfolio securities, excluding short-term securities. For periods greater than six months, but less than a full fiscal year, the portfolio turnover rate is annualized. Effective October 1, 21, the manager of the Fund has waived a portion of its administration fee and as of the date of the MRFP has continued to provide the Fund with such waivers. The manager may terminate the waiver at any time, at its sole discretion. It is not known when such waivers will be terminated. J For the period February, 216 (commencement of sale of securities) to November 3, 216. K Effective February 9, 216, the manager of the Fund has waived a portion of its administration fee and as of the date of the MRFP has continued to provide the Fund with such waivers. The manager may terminate the waiver at any time, at its sole discretion. It is not known when such waivers will be terminated. L For the period September 16, 216 (commencement of sale of securities) to November 3, 216. M Effective September 2, 216, the manager of the Fund has waived a portion of its administration fee and as of the date of the MRFP has continued to provide the Fund with such waivers. The manager may terminate the waiver at any time, at its sole discretion. It is not known when such waivers will be terminated. N For the period January 26, 217 (commencement of sale of securities) to May 31, 217. O Effective January 3, 217, the manager of the Fund has waived a portion of its administration fee and as of the date of the MRFP has continued to provide the Fund with such waivers. The manager may terminate the waiver at any time, at its sole discretion. It is not known when such waivers will be terminated. P For the period December 4, 21 (commencement of sale of securities) to November 3, 216. Q Effective December 8, 21, the manager of the Fund has waived a portion of its administration fee and as of the date of the MRFP has continued to provide the Fund with such waivers. The manager may terminate the waiver at any time, at its sole discretion. It is not known when such waivers will be terminated. R For the period May 13, 216 (commencement of sale of securities) to November 3, 216. S Effective May 17, 216, the manager of the Fund has waived a portion of its administration fee and as of the date of the MRFP has continued to provide the Fund with such waivers. The manager may terminate the waiver at any time, at its sole discretion. It is not known when such waivers will be terminated. 14

Management and Advisory Fees Fidelity serves as manager of the Fund. The Fund pays Fidelity a monthly management fee for its services, based on the net asset value of each Series, calculated daily and payable monthly. Fidelity uses these management fees to pay for sales and trailing commissions to registered dealers on the distribution of the Fund securities, as well as for general investment management expenses. Dealer compensation represents cash commissions paid by Fidelity to registered dealers during the period and includes upfront deferred sales charge and trailing commissions. This amount may, in certain circumstances, exceed 1% of the fees earned by Fidelity during the period. For new Funds or Series the amounts presented may not be indicative of longer term operating periods. Management Fees Dealer Compensation Investment management, administration and other Series A 1.% 13.24% 86.76% Series B 1.2% 4.% 6.% Series F.7% 1.% Series F.7% 1.% Series T 1.% 1.34% 84.66% Series S 1.2% 4.% 6.% Series E1 1.2% 4.% 6.% Series E1T 1.2% 4.% 6.% Series E2 1.22% 4.82% 9.18% Series E2T 1.22% 4.82% 9.18% Series E3 1.2% 41.67% 8.33% Series E3T 1.2% 41.67% 8.33% Series E4 1.2% 41.67% 8.33% Series E4T 1.2% 41.67% 8.33% Series P1.7% 1.% Series P1T.7% 1.% Series P2.72% 1.% Series P2T.72% 1.% Series P3.7% 1.% Series P4.7% 1.% 1

Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Past Performance The performance information shown assumes that all distributions made by the Fund in the periods shown were reinvested in additional securities of the Fund. The performance information does not take into account sales, redemption, distribution or other optional charges that would have reduced returns or performance. How the Fund has performed in the past does not necessarily indicate how it will perform in the future. Year-by-Year Returns The following bar chart shows the Fund s annual performance for each of the years shown, and illustrates how the Fund s performance was changed from year to year. In percentage terms, the bar chart shows how much an investment made on the first day of each financial year would have grown or decreased by the last day of each financial year. For each Series in the Year-by-Year Returns table below, the most recent returns stated are for the current six month period. Series A Series F 21 211 212 213 214 21 216 217 21 211 212 213 214 21 216 217 1 -.9 4.8 7. -1.1.7 -.9 3.2 4.1 1 -.8.7 7.9 -.1 6.8.1 4.1 4. - - Commencement of Operations is September 22, 21 Series B Commencement of Operations is September 22, 21 Series T 21 211 212 213 214 21 216 217 21 211 212 213 214 21 216 217 1 -.9.1 7.3 -.7 6.1 -. 3. 4.2 1 -.9 4.7 6.9-1.1.7 -.9 3.1 4. - - Commencement of Operations is September 22, 21 Series F Commencement of Operations is September 22, 21 Series S 21 211 212 213 214 21 216 217 21 211 212 213 214 21 216 217 1 -.7.7 7.9 -.1 6.8.1 4.1 4.6 1 -.9.1 7.3 -.7 6.1 -. 3. 4.2 - - Commencement of Operations is September 22, 21 Commencement of Operations is September 22, 21 16

Series E1 Series E3 216 217 216 217 4. 4.2 4.6 4.3 - - -1-1 Commencement of Operations is February, 216 Commencement of Operations is February, 216 Series E1T Series E3T 216 217 217 4. 4.2 4. - - -1-1 Commencement of Operations is February, 216 Commencement of Operations is January 26, 217 Series E2 Series E4 216 217 216 217 4.6 4.3 4.6 4.2 - - -1-1 Commencement of Operations is February, 216 Commencement of Operations is February, 216 Series E2T Series E4T 216 217 217 -.9 4.3 4. - - -1 Commencement of Operations is September 16, 216 Commencement of Operations is January 26, 217 17

Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Past Performance continued Series P1 Series P3 216 217 216 217 4.1 4.6 1.2 4.6 - - -1-1 Commencement of Operations is December 4, 21 Commencement of Operations is May 13, 216 Series P1T Series P4 216 217 216 217 4.2 4.6 1.3 4.6 - - -1-1 Commencement of Operations is December 4, 21 Commencement of Operations is May 13, 216 Series P2 216 217 4.2 4.6 - -1 Commencement of Operations is December 4, 21 Series P2T 217 4.1 - -1 Commencement of Operations is January 26, 217 18

Fidelity Corporate Bond Class of the Fidelity Capital Structure Corp. Summary of Investment Portfolio as at May 31, 217 Derivative Exposure % of Fund s Net Assets as at /31/17 % of Fund s Net Assets as at 11/3/16 Futures Contracts 6. 8.2 Swaps (.) (.1) Swaps percentage is calculated by dividing the sum of the notional and unrealized gain/loss by total net assets. Futures Contracts percentage is calculated by dividing the sum of the underlying face amount at value by total net assets. Geographic Mix % of Fund s Net Assets as at /31/17 % of Fund s Net Assets as at 11/3/16 Canada 82.4 76.1 United States of America 11.8 16.4 Mexico 1.9 2. United Kingdom. 1.9 Australia. 1.1 Others (Individually Less Than 1%) 2.9 1.6 Cash and Cash Equivalents.4.1 Net Other Assets (Liabilities).6.8 Maturity Diversification Years % of Fund s Net Assets as at /31/17 % of Fund s Net Assets as at 11/3/16 1..9 1 3.3 3.2 3 21.4 2.3 Over 66.3 73.4 Quality Diversification % of Fund s Net Assets as at /31/17 % of Fund s Net Assets as at 11/3/16 AAA 4.8.3 AA 4.1 4.6 A 1.2 1.8 BBB 48.9 2. BB and Below 9. 13.8 Not Rated 11.4 11.6 Equities.4. Short-Term Investments and Net Other Assets 1..9 We have used ratings from Moody s Investors Service, Inc. Where Moody s ratings are not available, we have used S&P ratings. All ratings are as of the date indicated and do not reflect subsequent changes. Top 2 Issuers % of Fund s Net Assets 1. Fidelity American High Yield Currency Neutral fund Series O 6.9 2. Royal Bank of Canada 4.9 3. Canadian Government 4.3 4. Bell Canada 4.2. Rogers Communications, Inc. 2.8 6. Enbridge Income Fund Holdings, Inc. 2.8 7. Bank of Montreal 2.6 8. The Toronto-Dominion Bank 2. 9. TELUS Corp. 2.3 1. Shaw Communications, Inc. 2. 11. Canadian Imperial Bank of Commerce 2. 12. Petroleos Mexicanos 1.9 13. CBRE Group, Inc. 1.9 14. Loblaw Companies Ltd. 1.8 1. Enbridge, Inc. 1.7 16. Institutional Mortgage Securities Canada, Inc. 1.7 17. Choice Properties LP 1. 18. H&R (REIT) 1. 19. Pembina Pipeline Corp. 1. 2. RioCan (REIT) 1.4 21. Inter Pipeline Ltd. 1.4 22. Wells Fargo Financial Canada Corp. 1.4 23. Canadian Natural Resources Ltd. 1.3 24. AltaGas Ltd. 1.3 2. North West Redwater Partnership/NWR Finanancing Co. Ltd. 1.3 Total Fund Net Assets $33,773, 8.9 19

Summary of Investment Portfolio as at May 31, 217 continued Where applicable, the information in the above tables includes the Fund s pro-rata share of the investment in any Fidelity Underlying Fund. The summary of investment portfolio may change due to ongoing portfolio transactions of the investment fund. The most recent annual report, semi-annual report, quarterly report, fund facts document or simplified prospectus for the investment fund and/or underlying fund is available at no cost, by calling 1-8-263-477, by writing to us at Fidelity Investments Canada ULC, 483 Bay St. Suite 3, Toronto ON MG 2N7 or by visiting our web site at www.fidelity.ca or SEDAR at www.sedar.com. 2

Fidelity Capital Structure Corp. 47 2nd Street S.W., Suite 82 Calgary, Alberta T2P 2Y3 Manager and Registrar Fidelity Investments Canada ULC 483 Bay Street, Suite 3 Toronto, Ontario MG 2N7 Custodian State Street Trust Company of Canada Toronto, Ontario Visit us online at www.fidelity.ca or call Fidelity Client Services at 1-8-263-477 Fidelity s mutual funds are sold by registered Investment Professionals. Each Fund has a simplified prospectus, which contains important information on the Fund, including its investment objective, purchase options, and applicable charges. Please obtain a copy of the prospectus, read it carefully, and consult your Investment Professional before investing. As with any investment, there are risks to investing in mutual funds. There is no assurance that any Fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investors may experience a gain or loss when they sell their securities in any Fidelity Fund. Fidelity Global Funds may be more volatile than other Fidelity Funds as they concentrate investments in one sector and in fewer issuers; no single Fund is intended to be a complete diversified investment program. Past performance is no assurance or indicator of future returns. There is no assurance that either Fidelity Canadian Money Market Fund or Fidelity U.S. Money Market Fund will be able to maintain its net asset value at a constant amount. The breakdown of Fund investments is presented to illustrate the way in which a Fund may invest, and may not be representative of a Fund s current or future investments. A Fund s investments may change at any time. Fidelity Investments is a registered trademark of Fidelity Investments Canada ULC. 62.1112E 1.92238.16 FICL-HUCB-CS-MRFPS-717