Fidelity^® Sustainable Target Date Retirement Fund: Investment Approach

• Fidelity^® Sustainable Target Date Funds are designed so that the target date referenced in the Fund name is the approximate year when we expect investors to retire.
• Except for Fidelity Sustainable TD Retirement Fund, each of the Funds seeks high total return until reaching its respective target retirement date; thereafter, each Fund's objective will be to seek income and, secondarily, capital appreciation.
• Except for Fidelity Sustainable TD Retirement Fund, each Fund's asset allocation strategy becomes increasingly diversified as it approaches its target date – and beyond. Ultimately, the Funds are expected to merge with Sustainable TD Retirement Fund.
• The Funds invest in underlying funds that invest primarily in securities of issuers that FMR believes have proven or improving sustainability practices or positive environmental, social and governance (ESG) characteristics.