Fidelity Advisor^® Growth & Income Fund: Investment Approach

• Fidelity^® Growth & Income Portfolio is a diversified domestic equity strategy that seeks to maintain a higher dividend yield and higher earnings growth than the S&P 500^® index.
• Our investment approach is to find companies that we believe have attractive earnings and yield potential over the next two to three years, and where our view is different from market consensus.
• We believe securities can become mispriced relative to their true long-term value when investors become increasingly focused on the short term, and our process seeks to exploit these discrepancies to drive performance.
• We strive to uncover these companies through in-depth bottom-up, fundamental analysis, working in concert with Fidelity's global research team.