Fidelity Freedom^® 2070 Fund: Investment Approach

• Fidelity Freedom^® Funds (the Funds) are designed so that the target date referenced in the Fund name is the approximate year when investors expect to retire.
• Except for Fidelity Freedom^® 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 high current income and, as a secondary objective, capital appreciation.
• Except for Fidelity Freedom^® 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 Fidelity Freedom Retirement Fund.
• The Funds employ a disciplined and time-tested investment process focused on helping investors achieve successful retirement outcomes by leveraging the depth and strength of Fidelity's investment research and resources.