Supplement to the

Fidelity® Variable Insurance Products

Communication Services Portfolio, Consumer Discretionary Portfolio, Consumer Staples Portfolio, Energy Portfolio, Financials Portfolio, Health Care Portfolio, Industrials Portfolio, Materials Portfolio, Technology Portfolio, and Utilities Portfolio

Initial Class

April 30, 2025

STATEMENT OF ADDITIONAL INFORMATION

Clayton Pfannenstiel serves as Co-Portfolio Manager of VIP Industrials Portfolio.

David Wagner serves as Co-Portfolio Manager of VIP Industrials Portfolio.

The following information supplements information VIP Industrials Portfolio found in the "Management Contracts" section.

The following table provides information relating to other accounts managed by Clayton Pfannenstiel as of June 30, 2025:

	Registered Investment  Companies*	Other Pooled Investment Vehicles	Other Accounts
Number of Accounts Managed	5	2	none
Number of Accounts Managed with Performance-Based Advisory Fees	none	none	none
Assets Managed (in millions)	$4,559	$8	none
Assets Managed with Performance-Based Advisory Fees (in millions)	none	none	none

* Includes VIP Industrials Portfolio ($294 (in millions) assets managed).

As of June 30, 2025, the dollar range of shares of VIP Industrials Portfolio beneficially owned by Mr. Pfannenstiel was none.

VIPFC-SSTK-0825-138-1.782383.138 August 28, 2025

Supplement to the

Fidelity® Variable Insurance Products

Communication Services Portfolio, Consumer Discretionary Portfolio, Consumer Staples Portfolio, Energy Portfolio, Financials Portfolio, Health Care Portfolio, Industrials Portfolio, Materials Portfolio, Technology Portfolio, and Utilities Portfolio

Investor Class

April 30, 2025

STATEMENT OF ADDITIONAL INFORMATION

Clayton Pfannenstiel serves as Co-Portfolio Manager of VIP Industrials Portfolio.

David Wagner serves as Co-Portfolio Manager of VIP Industrials Portfolio.

The following information supplements information VIP Industrials Portfolio found in the "Management Contracts" section.

The following table provides information relating to other accounts managed by Clayton Pfannenstiel as of June 30, 2025:

	Registered Investment  Companies*	Other Pooled Investment Vehicles	Other Accounts
Number of Accounts Managed	5	2	none
Number of Accounts Managed with Performance-Based Advisory Fees	none	none	none
Assets Managed (in millions)	$4,559	$8	none
Assets Managed with Performance-Based Advisory Fees (in millions)	none	none	none

* Includes VIP Industrials Portfolio ($294 (in millions) assets managed).

As of June 30, 2025, the dollar range of shares of VIP Industrials Portfolio beneficially owned by Mr. Pfannenstiel was none.

VIPINVF-SSTK-0825-132-1.827184.132 August 28, 2025

Supplement to the

Fidelity® Variable Insurance Products

Communication Services Portfolio, Industrials Portfolio, Materials Portfolio, and Utilities Portfolio

Service Class 2

April 24, 2025

STATEMENT OF ADDITIONAL INFORMATION

Clayton Pfannenstiel serves as Co-Portfolio Manager of VIP Industrials Portfolio.

David Wagner serves as Co-Portfolio Manager of VIP Industrials Portfolio.

The following information supplements information VIP Industrials Portfolio found in the "Management Contracts" section.

The following table provides information relating to other accounts managed by Clayton Pfannenstiel as of June 30, 2025:

	Registered Investment  Companies*	Other Pooled Investment Vehicles	Other Accounts
Number of Accounts Managed	5	2	none
Number of Accounts Managed with Performance-Based Advisory Fees	none	none	none
Assets Managed (in millions)	$4,559	$8	none
Assets Managed with Performance-Based Advisory Fees (in millions)	none	none	none

* Includes VIP Industrials Portfolio ($294 (in millions) assets managed).

As of June 30, 2025, the dollar range of shares of VIP Industrials Portfolio beneficially owned by Mr. Pfannenstiel was none.

VCIMU-SSTK-0825-100-1.9921425.100 August 28, 2025