Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp.

Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Semi-Annual Management Report of Fund Performance May 31, 2017

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, 2017 Fidelity Global Equity Currency Neutral Private Pool 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 1-800-263-4077, by writing to us at Fidelity Investments, 483 Bay St. Suite 300, Toronto ON M5G 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 Global Equity Currency Neutral Private Pool (Fund) invests substantially all of its assets in securities of Fidelity Global Equity Investment Trust (Underlying Fund). Fidelity Global Equity Currency Neutral Private Pool, Series B, returned 10.6%, after fees and expenses, for the six-month period ended May 31, 2017. The net returns of the other series of this Class are similar to those of Series B, except for differences attributable to expense structures. During the review period, the Class underperformed its benchmark, the MSCI World Index Hedged CAD, broadly representative of global equity markets, which returned 11.3% (in Canadian dollar terms). Market overview: Global equities registered positive returns during the review period, owing to the continued low-interest-rate environment around the world. European markets were the best performers, with strong economic data boosting investor sentiment. Markets were also supported by the Dutch election results. U.S. markets registered strong performance, driven by positive economic data and optimism regarding the proposed policies of the new U.S. administration. Canadian markets lagged global markets after investors concerns about depressed oil prices, rising household debt and risks of a correction in the housing market weighed on Canadian equities. Factors affecting performance: The Fund underperformed its benchmark after fees and expenses, but outperformed before fees and expenses. The Underlying Fund s exposure to select stocks in the information technology sector made the primary contribution to relative performance. In the sector, investments in U.S.-based electronic gaming software firm Activision Blizzard, US-based semiconductors and semiconductor equipment firm Broadcom and U.S.-based consumer technology firm Apple contributed to relative returns. In addition, exposure to select stocks in the consumer discretionary sector also contributed. In the sector, positions in U.S.-based electric car manufacturer Tesla and U.S.-based media firm Charter Communications contributed to relative returns. Among investments in other sectors, an investment in US-based firm Vertex Pharmaceuticals contributed to relative returns. In contrast, exposure to select stocks in the energy sector detracted. In the sector, the Underlying Fund s investments in U.S.-based oil and gas exploration and production firm Anadarko Petroleum and in U.S.-based oil and gas equipment and services firm Schlumberger detracted from relative returns. In addition, investments in select stocks in the materials sector detracted. In the sector, holdings in U.S.-based chemicals firms LyondellBasell Industries and CF Industries Holdings detracted from relative returns. Among investments in other sectors, an investment in U.S.-based toys company Mattel and exposure to U.S.-based semiconductors and semiconductor equipment firm Qualcomm detracted from relative returns. Portfolio changes: With respect to sector and regional positioning, the Underlying Fund is managed with a neutral approach, allowing stock selection to be the primary driver of returns. While the Underlying Fund is neutrally positioned at the sector level, the industry group allocations modestly deviated from those of the benchmark. During the review period, portfolio manager César Hernández made positional changes in the Underlying Fund across a range of industries. Exposures to software and services was increased when the portfolio manager initiated a position in U.S.-based electronic payments company PayPal Holdings. In contrast, exposures to energy firms and banks were reduced; the portfolio manager found more compelling investments elsewhere. The geographic allocations are a by-product of the portfolio manager s bottom-up fundamental stock selection process, reflecting his intent to add value through stock selection, instead of macro-level calls. Derivative Disclosure: 1

Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Management Discussion of Fund Performance continued During the period under review, the Fund engaged in forward contracts, in a manner consistent with its investment objective and strategies, to hedge against the effect of currency fluctuations on the investment returns of the Fund. However, the use of forward contracts in this manner does not completely eliminate the impact of currency fluctuations on returns. The Fund s returns will differ from the local currency returns of the Underlying Fund s investments. The Underlying Fund also engaged in futures contracts, in a manner consistent with its investment objective and strategies. This was done in order to manage the Underlying Fund s cash balance while the portfolio manager actively sought other investment opportunities. Recent Developments Portfolio manager César Hernández believes valuations remain generally attractive compared with historical levels. However, in the view of the portfolio manager, a number of global macro factors, such as the rate of growth in Europe, Japan and the U.S., the employment environment in the U.S., the impact of the new U.S. administration and the long-term impact of Brexit, may continue to influence the markets. In this environment, the portfolio manager continues to focus on strong businesses with good cash-flow potential that are trading at attractive valuations. He continues to seek to take advantage of market inefficiencies through bottom-up stock selection based on fundamental company research, implemented within a framework of quantitative risk control. The Underlying Fund s sector weightings remain closely aligned with the eleven Global Industry Classification Standard (GICS) sectors of the MSCI World Index. However, stock selection may drive modestly higher or lower allocations at the industry level, compared with the benchmark. As at May 31, 2017, the Underlying Fund deviated the most from its benchmark by having higher exposure to the software and services industry and a lower allocation to the retailing industry. The Underlying Fund had its largest absolute exposure to the software and services industry, followed by the capital goods industry. In terms of country allocation, the U.S. accounted for the Underlying Fund s largest absolute exposure, followed by Japan. Independent Review Committee Effective February 28, 2017, 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 $150,000 for the period ended May 31, 2017. 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 based on the net asset value of each Series, calculated daily and payable monthly. The Fund paid Fidelity administration fees of $25,000 for the period ended May 31, 2017. 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 Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Series B Six-months ended May 31, Periods ended November 30, 2017 2016 2015 2014 2013 2012 The Series Net Assets per Security A Net assets, beginning of period B $ 16.74 $ 17.07 $ 16.66 $ 14.97 $ 11.78 $ 10.35 Increase (decrease) from operations: Total revenue.46.20.31.21.32.30 Total expenses (excluding distributions) (.20) (.37) (.39) (.36) (.31) (.25) Realized gains (losses).49.76.28 1.02.56.18 Unrealized gains (losses) 1.04 (.67).18.76 2.73 1.11 Total increase (decrease) from operations B 1.79 (.08).38 1.64 3.30 1.34 Distributions: From net investment income (excluding dividends) From dividends From capital gains (.04) Return of capital Total distributions B,C (.04) Net assets, end of period B $ 18.48 $ 16.74 $ 17.07 $ 16.66 $ 14.97 $ 11.78 Ratios and Supplemental Data Net asset value (000s) D $ 6,847 $ 6,882 $ 6,880 $ 5,456 $ 4,838 $ 3,636 Securities outstanding D 370,454 411,064 403,073 327,488 323,289 308,773 Management expense ratio E 2.29% 2.28% 2.27% 2.29% 2.30% 2.22% Management expense ratio before waivers or absorptions E 2.29% 2.28% 2.27% 2.29% 2.30% 2.22% Trading expense ratio F.08%.10%.09%.11%.11%.09% Portfolio turnover rate G 9.88% 36.72% 37.37% 27.51% 35.68% 19.80% Net asset value per security, end of period $ 18.4822 $ 16.7419 $ 17.0727 $ 16.6585 $ 14.9665 $ 11.7751 Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Series F Six-months ended May 31, Periods ended November 30, 2017 2016 2015 2014 2013 2012 The Series Net Assets per Security A Net assets, beginning of period B $ 18.14 $ 18.29 $ 17.65 $ 15.68 $ 12.20 $ 10.61 Increase (decrease) from operations: Total revenue.62.20.33.23.30.30 Total expenses (excluding distributions) (.11) (.21) (.22) (.19) (.16) (.13) Realized gains (losses).54.66.33 1.12.57.16 Unrealized gains (losses) 1.07 (.47).30.81 2.78 1.21 Total increase (decrease) from operations B 2.12.19.74 1.97 3.48 1.55 Distributions: From net investment income (excluding dividends) From dividends From capital gains (.25) Return of capital Total distributions B,C (.25) Net assets, end of period B $ 19.91 $ 18.14 $ 18.29 $ 17.65 $ 15.68 $ 12.20 Ratios and Supplemental Data Net asset value (000s) D $ 8,167 $ 11,092 $ 6,412 $ 4,814 $ 4,038 $ 2,835 Securities outstanding D 407,227 605,686 350,518 272,729 257,465 232,391 Management expense ratio E 1.18% 1.18% 1.18% 1.18% 1.18% 1.10% Management expense ratio before waivers or absorptions E 1.18% 1.18% 1.18% 1.18% 1.18% 1.10% Trading expense ratio F.08%.10%.09%.11%.11%.09% Portfolio turnover rate G 9.88% 36.72% 37.37% 27.51% 35.68% 19.80% Net asset value per security, end of period $ 19.9139 $ 18.1389 $ 18.2951 $ 17.6530 $ 15.6820 $ 12.1987 4

Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Series F5 Six-months ended May 31, Periods ended November 30, 2017 2016 2015 2014 2013 2012 The Series Net Assets per Security A Net assets, beginning of period B $ 25.62 $ 22.96 $ 27.60 $ 25.53 $ 20.78 $ 19.01 Increase (decrease) from operations: Total revenue.69.03.58.05 1.58.50 Total expenses (excluding distributions) (.16) (.30) (.33) (.21) (.26) (.23) Realized gains (losses).72 (.09).51 1.19 1.40.33 Unrealized gains (losses) 1.58 2.09.23 7.38 3.98 2.19 Total increase (decrease) from operations B 2.83 1.72 1.00 8.41 6.70 2.78 Distributions: From net investment income (excluding dividends) From dividends From capital gains (.36) Return of capital (.68) (1.36) (1.34) (1.06) (1.05) (1.02) Total distributions B,C (1.04) (1.36) (1.34) (1.06) (1.05) (1.02) Net assets, end of period B $ 27.42 $ 25.62 $ 22.96 $ 27.60 $ 25.53 $ 20.78 Ratios and Supplemental Data Net asset value (000s) D $ 861 $ 794 $ 38 $ 38 $ 2 $ 6 Securities outstanding D 31,400 30,993 1,383 1,379 63 302 Management expense ratio E 1.16% 1.16% 1.16% 1.17% 1.15% 1.18% Management expense ratio before waivers or absorptions E 1.16% 1.16% 1.16% 1.17% 1.15% 1.18% Trading expense ratio F.08%.10%.09%.11%.11%.09% Portfolio turnover rate G 9.88% 36.72% 37.37% 27.51% 35.68% 19.80% Net asset value per security, end of period $ 27.4261 $ 25.6254 $ 27.2632 $ 27.6008 $ 25.5291 $ 20.7767 Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Series F8 Six-months ended May 31, Periods ended November 30, 2017 2016 2015 2014 2013 2012 The Series Net Assets per Security A Net assets, beginning of period B $ 20.73 $ 27.26 $ 23.71 $ 22.40 $ 18.68 $ 17.74 Increase (decrease) from operations: Total revenue.55.09.90.34.01.45 Total expenses (excluding distributions) (.13) (.25) (.28) (.27) (.24) (.22) Realized gains (losses).57 1.34.41 1.58.69.30 Unrealized gains (losses) 1.28.22 1.14 1.11 4.22 2.00 Total increase (decrease) from operations B 2.27 1.40 2.17 2.77 4.68 2.55 Distributions: From net investment income (excluding dividends) From dividends From capital gains (.28) Return of capital (.98) (1.96) (1.60) (1.42) (1.43) (1.62) Total distributions B,C (1.26) (1.96) (1.60) (1.42) (1.43) (1.62) Net assets, end of period B $ 21.73 $ 20.73 $ 27.26 $ 23.71 $ 22.40 $ 18.68 Ratios and Supplemental Data Net asset value (000s) D $ 549 $ 496 $ 158 $ 650 $ 590 $ 6 Securities outstanding D 25,453 24,102 6,880 27,437 26,322 336 Management expense ratio E 1.18% 1.18% 1.16% 1.16% 1.16% 1.18% Management expense ratio before waivers or absorptions E 1.18% 1.18% 1.16% 1.16% 1.16% 1.18% Trading expense ratio F.08%.10%.09%.11%.11%.09% Portfolio turnover rate G 9.88% 36.72% 37.37% 27.51% 35.68% 19.80% Net asset value per security, end of period $ 21.7356 $ 20.7280 $ 22.9577 $ 23.7076 $ 22.3990 $ 18.6814 5

Financial Highlights continued Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Series I Six-months ended May 31, Periods ended November 30, 2017 2016 2015 2014 2013 2012 The Series Net Assets per Security A Net assets, beginning of period B $ 16.41 $ 16.79 $ 16.43 $ 14.80 $ 11.68 $ 10.30 Increase (decrease) from operations: Total revenue.48.11.32.21.36.33 Total expenses (excluding distributions) (.22) (.41) (.44) (.40) (.34) (.28) Realized gains (losses).55.84.45 1.07.56.18 Unrealized gains (losses).96.28 (.08).73 2.47 1.31 Total increase (decrease) from operations B 1.77.82.25 1.61 3.05 1.53 Distributions: From net investment income (excluding dividends) From dividends From capital gains Return of capital Total distributions B,C Net assets, end of period B $ 18.13 $ 16.41 $ 16.79 $ 16.43 $ 14.80 $ 11.68 Ratios and Supplemental Data Net asset value (000s) D $ 3,561 $ 3,776 $ 1,681 $ 1,126 $ 910 $ 930 Securities outstanding D 196,544 230,206 100,193 68,541 61,473 79,622 Management expense ratio E 2.58% 2.59% 2.59% 2.59% 2.58% 2.55% Management expense ratio before waivers or absorptions E 2.58% 2.59% 2.59% 2.59% 2.58% 2.55% Trading expense ratio F.08%.10%.09%.11%.11%.09% Portfolio turnover rate G 9.88% 36.72% 37.37% 27.51% 35.68% 19.80% Net asset value per security, end of period $ 18.1302 $ 16.4091 $ 16.7857 $ 16.4281 $ 14.8001 $ 11.6770 Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Series I5 Six-months ended May 31, Periods ended November 30, 2017 2016 2015 2014 2013 2012 The Series Net Assets per Security A Net assets, beginning of period B $ 23.03 $ 24.88 $ 25.55 $ 23.98 $ 19.81 $ 18.42 Increase (decrease) from operations: Total revenue.62.34.53.36 1.50.48 Total expenses (excluding distributions) (.31) (.59) (.66) (.64) (.56) (.50) Realized gains (losses).64.89.47 1.70 1.36.32 Unrealized gains (losses) 1.43 (1.17).21 1.19 3.79 2.10 Total increase (decrease) from operations B 2.38 (.54).55 2.61 6.07 2.40 Distributions: From net investment income (excluding dividends) From dividends From capital gains Return of capital (.63) (1.26) (1.24) (1.01) (1.01) (1.02) Total distributions B,C (.63) (1.26) (1.24) (1.01) (1.01) (1.02) Net assets, end of period B $ 24.80 $ 23.03 $ 24.88 $ 25.55 $ 23.98 $ 19.81 Ratios and Supplemental Data Net asset value (000s) D $ 2 $ 2 $ 2 $ 2 $ 2 $ 6 Securities outstanding D 75 73 69 66 63 303 Management expense ratio E 2.54% 2.54% 2.55% 2.59% 2.60% 2.59% Management expense ratio before waivers or absorptions E 2.54% 2.54% 2.55% 2.59% 2.60% 2.59% Trading expense ratio F.08%.10%.09%.11%.11%.09% Portfolio turnover rate G 9.88% 36.72% 37.37% 27.51% 35.68% 19.80% Net asset value per security, end of period $ 24.7996 $ 23.0336 $ 24.8767 $ 25.5495 $ 23.9812 $ 19.8119 6

Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Series I8 Six-months ended May 31, Periods ended November 30, 2017 2016 2015 2014 2013 2012 The Series Net Assets per Security A Net assets, beginning of period B $ 18.52 $ 20.82 $ 21.84 $ 20.97 $ 17.76 $ 17.17 Increase (decrease) from operations: Total revenue.49.01.44.32 1.40.44 Total expenses (excluding distributions) (.25) (.48) (.56) (.56) (.49) (.46) Realized gains (losses).51 (.90).39 1.47 1.22.29 Unrealized gains (losses) 1.14 2.31.20 1.02 3.33 1.93 Total increase (decrease) from operations B 1.89.94.46 2.24 5.46 2.20 Distributions: From net investment income (excluding dividends) From dividends From capital gains Return of capital (.89) (1.79) (1.49) (1.34) (1.37) (1.62) Total distributions B,C (.89) (1.79) (1.49) (1.34) (1.37) (1.62) Net assets, end of period B $ 19.52 $ 18.52 $ 20.82 $ 21.84 $ 20.97 $ 17.76 Ratios and Supplemental Data Net asset value (000s) D $ 204 $ 181 $ 2 $ 1 $ 1 $ 6 Securities outstanding D 10,552 9,844 74 69 64 338 Management expense ratio E 2.61% 2.58% 2.58% 2.63% 2.62% 2.59% Management expense ratio before waivers or absorptions E 2.61% 2.58% 2.58% 2.63% 2.62% 2.59% Trading expense ratio F.08%.10%.09%.11%.11%.09% Portfolio turnover rate G 9.88% 36.72% 37.37% 27.51% 35.68% 19.80% Net asset value per security, end of period $ 19.5240 $ 18.5155 $ 20.8189 $ 21.8427 $ 20.9691 $ 17.7618 Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Series S5 Six-months ended May 31, Periods ended November 30, 2017 2016 2015 2014 2013 2012 The Series Net Assets per Security A Net assets, beginning of period B $ 23.57 $ 25.39 $ 26.01 $ 24.34 $ 20.03 $ 18.54 Increase (decrease) from operations: Total revenue.79.29.22.12 3.03.49 Total expenses (excluding distributions) (.28) (.54) (.59) (.53) (.43) (.42) Realized gains (losses) 1.10 1.13 (.56).94 5.45.32 Unrealized gains (losses) 1.00 (.62) (.25) 3.21 (2.08) 2.12 Total increase (decrease) from operations B 2.61.25 (1.19) 3.73 5.97 2.51 Distributions: From net investment income (excluding dividends) From dividends From capital gains (.05) Return of capital (.64) (1.28) (1.26) (1.02) (1.02) (1.02) Total distributions B,C (.69) (1.28) (1.26) (1.02) (1.02) (1.02) Net assets, end of period B $ 25.36 $ 23.57 $ 25.39 $ 26.01 $ 24.34 $ 20.03 Ratios and Supplemental Data Net asset value (000s) D $ 474 $ 653 $ 734 $ 149 $ 1 $ 187 Securities outstanding D 18,684 27,689 31,304 5,732 50 9,327 Management expense ratio E 2.29% 2.32% 2.29% 2.30% 2.21% 2.17% Management expense ratio before waivers or absorptions E 2.29% 2.32% 2.29% 2.30% 2.21% 2.17% Trading expense ratio F.08%.10%.09%.11%.11%.09% Portfolio turnover rate G 9.88% 36.72% 37.37% 27.51% 35.68% 19.80% Net asset value per security, end of period $ 25.3627 $ 23.5718 $ 25.3940 $ 26.0110 $ 24.3394 $ 20.0334 7

Financial Highlights continued Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Series S8 Six-months ended May 31, Periods ended November 30, 2017 2016 2015 2014 2013 2012 The Series Net Assets per Security A Net assets, beginning of period B $ 18.95 $ 21.24 $ 22.21 $ 21.25 $ 17.94 $ 17.28 Increase (decrease) from operations: Total revenue.50.27.45.32 1.42.44 Total expenses (excluding distributions) (.23) (.44) (.51) (.52) (.45) (.41) Realized gains (losses).52.74.41 1.48 1.25.29 Unrealized gains (losses) 1.20 (.96).17 1.05 3.39 1.94 Total increase (decrease) from operations B 1.99 (.39).52 2.33 5.62 2.27 Distributions: From net investment income (excluding dividends) From dividends From capital gains (.05) Return of capital (.91) (1.82) (1.51) (1.36) (1.38) (1.62) Total distributions B,C (.96) (1.82) (1.51) (1.36) (1.38) (1.62) Net assets, end of period B $ 19.97 $ 18.95 $ 21.24 $ 22.21 $ 21.25 $ 17.94 Ratios and Supplemental Data Net asset value (000s) D $ 2 $ 2 $ 2 $ 2 $ 1 $ 6 Securities outstanding D 85 81 73 68 64 338 Management expense ratio E 2.28% 2.27% 2.29% 2.32% 2.33% 2.30% Management expense ratio before waivers or absorptions E 2.28% 2.27% 2.29% 2.32% 2.33% 2.30% Trading expense ratio F.08%.10%.09%.11%.11%.09% Portfolio turnover rate G 9.88% 36.72% 37.37% 27.51% 35.68% 19.80% Net asset value per security, end of period $ 19.9686 $ 18.9502 $ 21.2390 $ 22.2121 $ 21.2514 $ 17.9424 8

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, 2013 follow International Financial Reporting Standards (IFRS) and periods prior to January 1, 2013 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, 2017 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, 2017 may not foot due to this rounding change. B C D E F G 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. 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 100% 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. 9

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 100% 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 B 1.800% 55.56% 44.44% Series F 0.800% 100.00% Series F5 0.800% 100.00% Series F8 0.800% 100.00% Series I 2.050% 60.98% 39.02% Series I5 2.050% 60.98% 39.02% Series I8 2.050% 60.98% 39.02% Series S5 1.800% 55.56% 44.44% Series S8 1.800% 55.56% 44.44% 10

Fidelity Global Equity Currency Neutral Private Pool 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 B Series F8 Fiscal Years 2009 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Years 2009 2010 2011 2012 2013 2014 2015 2016 2017 (%) 30 2.6 5.5-4.3 13.8 27.1 11.3 2.5-1.9 10.6 (%) 30 2.7 6.5-3.3 15.0 28.6 12.6 3.6-0.9 11.3 20 20 10 10 0 0-10 -10 Commencement of Operations is October 5, 2009 Series F Commencement of Operations is October 5, 2009 Series I Fiscal Years 2009 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Years 2009 2010 2011 2012 2013 2014 2015 2016 2017 (%) 30 2.8 6.6-3.2 15.0 28.6 12.6 3.6-0.9 11.3 (%) 30 2.5 5.2-4.5 13.4 26.8 11.0 2.2-2.2 10.5 20 20 10 10 0 0-10 -10 Commencement of Operations is October 5, 2009 Series F5 Commencement of Operations is October 5, 2009 Series I5 Fiscal Years 2009 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Years 2009 2010 2011 2012 2013 2014 2015 2016 2017 (%) 30 2.7 6.5-3.3 15.0 28.6 12.5 3.6-0.8 11.3 (%) 30 2.5 5.1-4.7 13.4 26.8 11.0 2.2-2.2 10.5 20 20 10 10 0 0-10 -10 Commencement of Operations is October 5, 2009 Commencement of Operations is October 5, 2009 11

Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Past Performance continued Series I8 Fiscal Years 2009 2010 2011 2012 2013 2014 2015 2016 2017 (%) 30 2.5 5.1-4.7 13.4 26.7 10.9 2.1-2.2 10.5 20 10 0-10 Commencement of Operations is October 5, 2009 Series S5 Fiscal Years 2009 2010 2011 2012 2013 2014 2015 2016 2017 (%) 30 2.6 5.4-4.4 13.8 27.2 11.3 2.5-2.0 10.6 20 10 0-10 Commencement of Operations is October 5, 2009 Series S8 Fiscal Years 2009 2010 2011 2012 2013 2014 2015 2016 2017 (%) 30 2.6 5.4-4.4 13.7 27.1 11.3 2.4-1.9 10.6 20 10 0-10 Commencement of Operations is October 5, 2009 12

Fidelity Global Equity Currency Neutral Private Pool of the Fidelity Capital Structure Corp. Summary of Investment Portfolio as at May 31, 2017 Sector Mix % of Fund s Net Assets as at 5/31/17 % of Fund s Net Assets as at 11/30/16 Information Technology 16.1 15.0 Financials 16.0 17.7 Consumer Discretionary 12.2 11.8 Health Care 11.7 11.7 Industrials 10.7 11.5 Consumer Staples 9.6 9.4 Energy 5.6 7.3 Materials 5.0 5.5 Telecommunication Services 3.6 3.1 Real Estate 2.4 2.2 Utilities 2.3 1.9 Cash and Cash Equivalents 0.0 0.0 Net Other Assets (Liabilities) 4.8 2.9 Derivative Exposure Geographic Mix % of Fund s Net Assets as at 5/31/17 % of Fund s Net Assets as at 11/30/16 United States of America 51.9 52.7 Japan 8.3 8.7 United Kingdom 5.5 5.4 France 3.7 3.4 Switzerland 3.6 3.3 Germany 3.4 3.3 Canada 3.4 3.6 Ireland 2.3 2.6 Australia 2.2 2.2 Netherlands 1.8 1.9 Spain 1.6 1.3 Sweden 1.3 1.2 Others (Individually Less Than 1%) 6.2 7.5 Cash and Cash Equivalents 0.0 0.0 Net Other Assets (Liabilities) 4.8 2.9 % of Fund s Net Assets as at 5/31/17 % of Fund s Net Assets as at 11/30/16 Futures Contracts 2.8 1.2 Forward Foreign Currency Contracts 0.7 0.9 Future Contracts percentage are calculated by dividing the sum of the underlying face amount at value by total net assets. Forward Foreign Currency Contracts percentage is calculated by dividing the net unrealized gain/loss of all contracts held by total net assets. 13

Summary of Investment Portfolio as at May 31, 2017 continued Top 25 Issuers % of Fund s Net Assets 1. Apple, Inc. 2.5 2. Alphabet, Inc. 1.8 3. Facebook, Inc. 1.1 4. Amazon.com, Inc. 1.1 5. Microsoft Corp. 1.0 6. Philip Morris International, Inc. 1.0 7. Berkshire Hathaway, Inc. 1.0 8. Procter & Gamble Co. 0.9 9. Activision Blizzard, Inc. 0.9 10. Home Depot, Inc. 0.8 11. Medtronic PLC 0.8 12. Amgen, Inc. 0.8 13. Wells Fargo & Co. 0.8 % of Fund s Net Assets 14. Allergan PLC 0.7 15. Boston Scientific Corp. 0.7 16. Citigroup, Inc. 0.7 17. Royal Dutch Shell PLC 0.7 18. Nestle SA 0.7 19. Visa, Inc. 0.7 20. Bank of America Corp. 0.7 21. Caterpillar, Inc. 0.7 22. Chubb Ltd. 0.7 23. Intel Corp. 0.7 24. General Dynamics Corp. 0.7 25. The Coca-Cola Co. 0.7 Total Fund Net Assets $20,616,000 22.9 Where applicable, the information in the above tables includes the Fund s pro-rata share of the investment in any Fidelity Underlying Fund. The Fund uses derivatives to try to minimize the exposure to currency fluctuations between foreign currencies in developed markets and the Canadian dollar. 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 1-800-263-4077, by writing to us at Fidelity Investments Canada ULC, 483 Bay St. Suite 300, Toronto ON M5G 2N7 or by visiting our web site at www.fidelity.ca or SEDAR at www.sedar.com. 14

Fidelity Capital Structure Corp. 407 2nd Street S.W., Suite 820 Calgary, Alberta T2P 2Y3 Manager and Registrar Fidelity Investments Canada ULC 483 Bay Street, Suite 300 Toronto, Ontario M5G 2N7 Custodian State Street Trust Company of Canada Toronto, Ontario Visit us online at www.fidelity.ca or call Fidelity Client Services at 1-800-263-4077 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. 62.110221E 1.904640.107 FICL-GECNPP-CS-MRFPS-0717