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Variable Portfolio Funds
Percentage of Income from U.S. Government Obligations

Updated for 2023


Dividends paid by VP funds includes income from direct and indirect U.S. government obligations.¹ This income may be tax exempt in your state. Because state laws vary, please consult your tax advisor or see your state's tax form instructions to determine which types of income are exempt.

VP Fund Name

Direct

Indirect

VP Avantis Global Equity Allocation Fund

0%

0%

VP Balanced Fund2, 4

15%

17%

VP Capital Appreciation Fund2, 4

0%

0%

VP Disciplined Core Value Fund2, 4

0%

0%

VP Growth Fund2, 3

0%

0%

VP Inflation Protection Fund2, 4

56%

14%

VP International Fund2, 4

0%

0%

VP Large Company Value Fund2, 4

0%

0%

VP Mid Cap Value Fund2, 4

0%

0%

VP Ultra Fund2, 4

0%

0%

VP Value Fund2, 4

0%

0%

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American Century Investments Variable Portfolio Funds (VP Funds) are a series of investment choices available exclusively through variable annuity and variable universal life products. There are no plans to distribute VP Funds in any other way. Performance will vary based on the fees and expenses assessed with investments in variable insurance products. Those charges are disclosed in the separate account prospectus.

Direct income is comprised of income from US Treasury Bills, Notes & Bonds, and income from SLMA, FHLB, FFCB, and TVA. Indirect income is comprised of income from FHLMC, FNMA, and GNMA.

The VP Funds are managed by the same management team using the same objectives, approach, and philosophy as the retail fund. The VP portfolios are managed in a manner that under normal circumstances should produce similar performance. However, it is important to note that there are additional fees and charges assessed with investments in variable insurance products, those charges are disclosed in the separate account prospectus. The fees and charges will reduce returns when compared to that of the retail fund. There is no guarantee that the management team will achieve the same or similar performance in the future.

On March 26, 2024, the VP Growth Fund was liquidated.

On April 26, 2024, this fund was reorganized into a substantially similar series and class of Lincoln Variable Insurance Products Trust. Please see the prospectus supplement dated April 4, 2024, for more information.

IRS Circular 230 Disclosure: American Century Companies, Inc. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with American Century Companies, Inc. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.

This information is for educational purposes only and is not intended as tax advice. Please consult your tax advisor for more detailed information or for advice regarding your individual situation.