UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-03855

Fidelity Advisor Series VIII

(Exact name of registrant as specified in charter)

245 Summer St., Boston, Massachusetts 02210

(Address of principal executive offices) (Zip code)

Cynthia Lo Bessette, Secretary

245 Summer St.

Boston, Massachusetts 02210

(Name and address of agent for service)

Registrant's telephone number, including area code:

617-563-7000


Date of fiscal year end:	October 31

Date of reporting period:	October 31, 2021

Item 1.

Reports to Stockholders

Fidelity Advisor® Diversified International Fund

Annual Report

October 31, 2021

Contents

Note to Shareholders
Performance
Management's Discussion of Fund Performance
Investment Summary
Schedule of Investments
Financial Statements
Notes to Financial Statements
Report of Independent Registered Public Accounting Firm
Trustees and Officers
Shareholder Expense Example
Distributions
Board Approval of Investment Advisory Contracts and Management Fees

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Note to Shareholders:

Early in 2020, the outbreak and spread of COVID-19 emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and corporate earnings. On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread. The pandemic prompted a number of measures to limit the spread of COVID-19, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and – given the wide variability in outcomes regarding the outbreak – significant market uncertainty and volatility. To help stem the turmoil, the U.S. government took unprecedented action – in concert with the U.S. Federal Reserve and central banks around the world – to help support consumers, businesses, and the broader economy, and to limit disruption to the financial system.

In general, the overall impact of the pandemic lessened in 2021, amid a resilient economy and widespread distribution of three COVID-19 vaccines granted emergency use authorization from the U.S. Food and Drug Administration (FDA) early in the year. Still, the situation remains dynamic, and the extent and duration of its influence on financial markets and the economy is highly uncertain, due in part to a recent spike in cases based on highly contagious variants of the coronavirus.

Extreme events such as the COVID-19 crisis are exogenous shocks that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets. Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we continue to take extra steps to be responsive to customer needs. We encourage you to visit us online, where we offer ongoing updates, commentary, and analysis on the markets and our funds.

Performance: The Bottom Line

Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.

Average Annual Total Returns

For the periods ended October 31, 2021	Past 1 year	Past 5 years	Past 10 years
Class A (incl. 5.75% sales charge)	22.11%	11.40%	9.29%
Class M (incl. 3.50% sales charge)	24.67%	11.63%	9.27%
Class C (incl. contingent deferred sales charge)	27.55%	11.86%	9.29%
Class I	29.87%	13.02%	10.25%
Class Z	30.10%	13.20%	10.39%

Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.

The initial offering of Class Z shares took place on August 13, 2013. Returns prior to August 13, 2013, are those of Class I.

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Diversified International Fund - Class A on October 31, 2011, and the current 5.75% sales charge was paid.

The chart shows how the value of your investment would have changed, and also shows how the MSCI EAFE Index performed over the same period.

	Period Ending Values
	$24,319	Fidelity Advisor® Diversified International Fund - Class A
	$20,722	MSCI EAFE Index

Management's Discussion of Fund Performance

Market Recap: The MSCI ACWI (All Country World Index) ex USA Index gained 29.85% for the 12 months ending October 31, 2021, with international equities rising amid an improved outlook for global economic growth, widespread COVID-19 vaccination, fiscal stimulus in the U.S. and abroad, and government spending programs. As 2021 began, investors saw reasons to be hopeful and the index recorded steady monthly gains. As part of the economic “reopening” trade, investors generally moved out of tech-driven mega-caps that had thrived due to the work-from-home trend in favor of cheap, smaller companies they believed stood to benefit from a broad cyclical recovery. In early September, sentiment turned broadly negative due to inflationary pressure from surging energy/other commodity prices, rising bond yields, supply constraints and disruption, valuation concerns, and the fast-spreading delta variant of the coronavirus. International stocks returned -3.18% for the month, but rebounded in October (+2.39%) amid strength in corporate earnings and notable improvement in the global economy. By region, Canada (+50%) led the way, followed by the U.K. (+44%) and Europe ex U.K (+41%). Conversely, emerging markets (+17%) and Japan (+20%) lagged most. By sector, energy (+74%) fared best by a wide margin. Financials (+50%) and information technology (+43%) also stood out. In contrast, communication services (+6%), consumer discretionary (+14%) and real estate (+17%) notably trailed the index.

Comments from Portfolio Manager Bill Bower: For the fiscal year ending October 31, 2021, the fund's share classes (excluding sales charges, if applicable) gained roughly 28% to 30%, underperforming the 34.45% result of the benchmark MSCI EAFE Index (Net MA). From a regional standpoint, stock picks and an underweighting in Europe ex U.K. and an overweighting emerging markets, specifically China, hindered the fund's relative result. By sector, the primary detractors from performance versus the benchmark were stock selection and an underweighting in financials. Weak picks in consumer discretionary also hurt. Also detracting from performance was security selection in consumer staples, especially within the food & staples retailing industry. Our biggest individual relative detractor was an out-of-benchmark stake in Alibaba Group Holding (-46%). We reduced our position this period. Our position in Tencent Holdings (-15%) was a key detractor. We decreased our out-of-benchmark stake the past 12 months. Another notable relative detractor was an outsized stake in London Stock Exchange Group (-9%). This period we reduced our stake. Conversely, a non-benchmark allocation to the U.S. and an underweighting and stock picks in Japan contributed most to the fund's relative result. By sector, the primary contributor to performance versus the benchmark was our stock selection in industrials. An overweighting and stock picks in information technology and security selection in health care also helped. The biggest individual relative contributor was an overweight position in ASML Holding (+126%), the fund's largest holding. The fund's non-benchmark stake in Rivian Automotive gained approximately 294%. Another notable relative contributor was an overweighting in Capgemini (+103%). Notable changes in positioning include increased exposure to France and a lower allocation to Germany. By sector, meaningful changes in positioning include increased exposure to financials and industrials.

The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.

Investment Summary (Unaudited)

Top Five Stocks as of October 31, 2021

	% of fund's net assets
ASML Holding NV (Netherlands, Semiconductors & Semiconductor Equipment)	2.9
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)	2.6
Nestle SA (Reg. S) (Switzerland, Food Products)	2.1
Hoya Corp. (Japan, Health Care Equipment & Supplies)	2.1
LVMH Moet Hennessy Louis Vuitton SE (France, Textiles, Apparel & Luxury Goods)	1.9
	11.6

Top Five Market Sectors as of October 31, 2021

	% of fund's net assets
Industrials	20.5
Information Technology	17.2
Financials	16.0
Health Care	13.2
Consumer Discretionary	11.0

Top Five Countries as of October 31, 2021

(excluding cash equivalents)	% of fund's net assets
Japan	18.8
France	9.4
United Kingdom	8.5
Switzerland	8.3
Germany	7.4

Asset Allocation (% of fund's net assets)

As of October 31, 2021
	Stocks	97.7%
	Short-Term Investments and Net Other Assets (Liabilities)	2.3%

Schedule of Investments October 31, 2021

Showing Percentage of Net Assets

Common Stocks - 96.8%
	Shares	Value (000s)
Australia - 0.8%
Aristocrat Leisure Ltd.	331,624	$11,645
Lynas Rare Earths Ltd. (a)	637,410	3,515

TOTAL AUSTRALIA		15,160

Austria - 0.2%
Erste Group Bank AG	84,200	3,611
Bailiwick of Jersey - 2.3%
Experian PLC	242,500	11,108
Ferguson PLC	115,646	17,401
Glencore Xstrata PLC	1,310,600	6,554
WPP PLC	655,900	9,481

TOTAL BAILIWICK OF JERSEY		44,544

Belgium - 1.9%
Azelis Group NV	92,000	2,978
KBC Groep NV	261,680	24,370
UCB SA	83,700	9,976

TOTAL BELGIUM		37,324

Bermuda - 1.2%
Hiscox Ltd.	572,266	6,524
IHS Markit Ltd.	125,288	16,378

TOTAL BERMUDA		22,902

Brazil - 0.0%
Natura & Co. Holding SA (a)	149,200	1,028
Canada - 2.8%
Canadian Natural Resources Ltd.	376,100	15,985
Constellation Software, Inc.	7,500	13,181
Fairfax India Holdings Corp. (a)(b)	214,600	2,790
First Quantum Minerals Ltd.	182,100	4,311
Franco-Nevada Corp.	59,200	8,447
Thomson Reuters Corp.	48,400	5,822
Tourmaline Oil Corp.	125,200	4,525

TOTAL CANADA		55,061

Cayman Islands - 2.3%
Alibaba Group Holding Ltd. sponsored ADR (a)	35,100	5,789
Anta Sports Products Ltd.	491,000	7,674
GlobalFoundries, Inc.	112,100	5,464
Li Ning Co. Ltd.	825,500	9,178
Medlive Technology Co. Ltd. (b)	52,000	270
Medlive Technology Co. Ltd.	138,500	684
Sea Ltd. ADR (a)	10,800	3,711
Tencent Holdings Ltd.	147,100	8,948
Zai Lab Ltd. ADR (a)	27,054	2,824

TOTAL CAYMAN ISLANDS		44,542

China - 0.7%
Kweichow Moutai Co. Ltd. (A Shares)	39,676	11,310
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)	34,900	2,049
Shenzhen YUTO Packaging Technology Co. Ltd. (A Shares)	213,100	1,089

TOTAL CHINA		14,448

Curacao - 0.3%
Schlumberger Ltd.	201,900	6,513
Denmark - 1.8%
DSV A/S	102,200	23,751
GN Store Nord A/S	76,100	4,618
Vestas Wind Systems A/S	140,500	6,076

TOTAL DENMARK		34,445

France - 9.4%
Amundi SA (b)	81,658	7,273
BNP Paribas SA	306,900	20,543
Capgemini SA	93,600	21,781
Dassault Systemes SA	176,300	10,295
Edenred SA	84,000	4,542
Hermes International SCA	1,700	2,693
Legrand SA	109,400	11,934
LVMH Moet Hennessy Louis Vuitton SE	47,543	37,279
Pernod Ricard SA	89,300	20,512
Sanofi SA	39,155	3,933
Sartorius Stedim Biotech	17,000	9,358
Societe Generale Series A	250,900	8,381
Teleperformance	43,600	18,200
Worldline SA (a)(b)	144,800	8,433

TOTAL FRANCE		185,157

Germany - 7.4%
adidas AG	53,509	17,524
Allianz SE	86,400	20,091
Auto1 Group SE (b)	66,200	2,602
Brenntag SE	55,487	5,275
Deutsche Post AG	354,526	21,934
Hannover Reuck SE	53,600	9,790
Linde PLC	70,738	22,774
Merck KGaA	50,300	11,874
SAP SE	60,173	8,714
Siemens Healthineers AG (b)	215,700	14,328
SUSE SA (a)	75,500	3,258
Symrise AG	46,700	6,454

TOTAL GERMANY		144,618

Greece - 0.1%
Piraeus Financial Holdings SA (a)	711,900	1,210
Hong Kong - 2.5%
AIA Group Ltd.	2,901,800	32,521
Hong Kong Exchanges and Clearing Ltd.	93,189	5,639
Techtronic Industries Co. Ltd.	536,500	11,040

TOTAL HONG KONG		49,200

India - 4.2%
Axis Bank Ltd. (a)	370,400	3,667
HDFC Bank Ltd.	874,142	18,499
Housing Development Finance Corp. Ltd.	405,587	15,393
Kotak Mahindra Bank Ltd. (a)	479,840	13,003
Reliance Industries Ltd.	63,367	1,608
Reliance Industries Ltd.	874,808	29,601

TOTAL INDIA		81,771

Indonesia - 0.7%
PT Bank Central Asia Tbk	11,522,500	6,079
PT Bank Rakyat Indonesia Tbk	22,517,133	6,759

TOTAL INDONESIA		12,838

Ireland - 2.1%
Aon PLC	39,800	12,733
Flutter Entertainment PLC (a)	40,500	7,646
Kingspan Group PLC (Ireland)	103,981	11,977
Ryanair Holdings PLC sponsored ADR (a)	85,836	9,743

TOTAL IRELAND		42,099

Isle of Man - 0.2%
Entain PLC (a)	144,500	4,050
Italy - 0.9%
FinecoBank SpA	388,200	7,411
GVS SpA (b)	66,500	988
Recordati SpA	80,000	5,005
Reply SpA	20,400	3,955

TOTAL ITALY		17,359

Japan - 18.8%
Daikin Industries Ltd.	40,900	8,958
FUJIFILM Holdings Corp.	156,475	12,092
Fujitsu Ltd.	36,100	6,239
Hitachi Ltd.	363,000	20,918
Hoya Corp.	278,200	40,953
Itochu Corp.	492,100	14,035
Keyence Corp.	53,100	32,052
Minebea Mitsumi, Inc.	813,400	20,593
Misumi Group, Inc.	212,100	8,871
Money Forward, Inc. (a)	32,600	2,215
Murata Manufacturing Co. Ltd.	107,800	7,996
Nitori Holdings Co. Ltd.	28,103	5,163
NOF Corp.	44,900	2,253
ORIX Corp.	595,200	11,830
Pan Pacific International Holdings Ltd.	271,100	5,692
Persol Holdings Co. Ltd.	376,700	10,125
Recruit Holdings Co. Ltd.	338,500	22,517
Relo Group, Inc.	226,700	4,715
Seven & i Holdings Co. Ltd.	101,200	4,249
Shin-Etsu Chemical Co. Ltd.	136,900	24,414
Shiseido Co. Ltd.	122,892	8,200
SMC Corp.	25,900	15,456
Sony Group Corp.	190,500	22,059
Sugi Holdings Co. Ltd.	36,600	2,621
TIS, Inc.	210,600	5,737
Tokyo Electron Ltd.	37,400	17,430
Tsuruha Holdings, Inc.	85,100	10,497
Welcia Holdings Co. Ltd.	203,312	7,590
Z Holdings Corp.	1,542,700	9,577
ZOZO, Inc.	144,500	4,638

TOTAL JAPAN		369,685

Korea (South) - 1.0%
NAVER Corp.	18,140	6,275
Samsung Electronics Co. Ltd.	225,080	13,407

TOTAL KOREA (SOUTH)		19,682

Luxembourg - 1.0%
B&M European Value Retail SA	1,438,295	12,464
Eurofins Scientific SA	60,530	7,133

TOTAL LUXEMBOURG		19,597

Netherlands - 6.8%
Adyen BV (a)(b)	4,573	13,798
Airbus Group NV (a)	105,700	13,559
Argenx SE (a)	9,300	2,800
ASML Holding NV	71,100	57,796
Corbion NV	1,869	89
IMCD NV	61,050	13,554
NXP Semiconductors NV	67,100	13,478
Wolters Kluwer NV	178,600	18,714

TOTAL NETHERLANDS		133,788

New Zealand - 0.2%
Ryman Healthcare Group Ltd.	311,645	3,227
Norway - 0.8%
Schibsted ASA (A Shares)	312,000	16,091
Spain - 1.6%
Cellnex Telecom SA (b)	283,744	17,443
Industria de Diseno Textil SA (c)	409,800	14,799

TOTAL SPAIN		32,242

Sweden - 2.2%
EQT AB	77,000	4,058
Hexagon AB (B Shares)	789,300	12,703
Indutrade AB	505,500	14,709
Investor AB (B Shares) (c)	341,100	7,860
Kry International AB (d)	332	137
Nibe Industrier AB (B Shares)	60,000	893
Nordnet AB	111,300	2,134

TOTAL SWEDEN		42,494

Switzerland - 8.3%
Dufry AG (a)	92,324	4,888
Idorsia Ltd. (a)	30,216	622
Julius Baer Group Ltd.	73,680	5,329
Lonza Group AG	29,366	24,074
Nestle SA (Reg. S)	316,160	41,704
Roche Holding AG (participation certificate)	131,337	50,879
Sika AG	68,078	23,050
Sonova Holding AG	25,003	10,331
Zur Rose Group AG (a)	7,277	2,583

TOTAL SWITZERLAND		163,460

Taiwan - 1.0%
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	169,900	19,318
United Kingdom - 8.5%
AstraZeneca PLC (United Kingdom)	184,679	23,104
Big Yellow Group PLC	313,300	6,341
Bridgepoint Group Holdings Ltd. (b)	708,800	4,811
Compass Group PLC (a)	422,992	8,976
Diageo PLC	331,800	16,508
Harbour Energy PLC (a)	614,600	2,956
JD Sports Fashion PLC	557,397	8,300
Jet2 PLC (a)	104,518	1,744
Lloyds Banking Group PLC	16,538,800	11,319
London Stock Exchange Group PLC	64,500	6,279
Ocado Group PLC (a)	120,600	2,976
Prudential PLC (a)	802,194	16,407
Prudential PLC (Hong Kong) (a)	190,100	3,860
RELX PLC (Euronext N.V.)	773,047	23,976
Rentokil Initial PLC	1,511,800	12,174
S4 Capital PLC (a)	338,800	3,366
Smith & Nephew PLC	697,100	12,039
Starling Bank Ltd. Series D (a)(d)(e)	1,081,500	1,916
WH Smith PLC (a)	36,500	780

TOTAL UNITED KINGDOM		167,832

United States of America - 4.8%
Alphabet, Inc. Class C (a)	4,349	12,897
Booking Holdings, Inc. (a)	2,300	5,568
Boston Scientific Corp. (a)	88,600	3,821
Dlocal Ltd.	44,700	2,168
IQVIA Holdings, Inc. (a)	57,700	15,084
Marsh & McLennan Companies, Inc.	76,800	12,810
Marvell Technology, Inc.	183,800	12,590
MasterCard, Inc. Class A	28,500	9,562
NICE Systems Ltd. sponsored ADR (a)	37,500	10,613
Visa, Inc. Class A	43,300	9,170

TOTAL UNITED STATES OF AMERICA		94,283

TOTAL COMMON STOCKS
(Cost $1,084,687)		1,899,579

Preferred Stocks - 0.9%
Convertible Preferred Stocks - 0.9%
United States of America - 0.9%
Rivian Automotive, Inc.:
Series E (a)(e)	152,975	10,739
Series F (e)	36,409	2,556
Wasabi Holdings, Inc. Series C (d)(e)	372,910	4,052
		17,347
Nonconvertible Preferred Stocks - 0.0%
Sweden - 0.0%
Kry International AB Series E (d)	1,920	836
TOTAL PREFERRED STOCKS
(Cost $8,642)		18,183

Money Market Funds - 3.4%
Fidelity Cash Central Fund 0.06% (f)	49,319,992	49,330
Fidelity Securities Lending Cash Central Fund 0.06% (f)(g)	16,663,107	16,665
TOTAL MONEY MARKET FUNDS
(Cost $65,995)		65,995
TOTAL INVESTMENT IN SECURITIES - 101.1%
(Cost $1,159,324)		1,983,757
NET OTHER ASSETS (LIABILITIES) - (1.1)%		(21,504)
NET ASSETS - 100%		$1,962,253

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

(a) Non-income producing

(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $72,736,000 or 3.7% of net assets.

(d) Level 3 security

(e) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $19,263,000 or 1.0% of net assets.

(f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

(g) Investment made with cash collateral received from securities on loan.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
Rivian Automotive, Inc. Series E	7/10/20	$2,370
Rivian Automotive, Inc. Series F	1/19/21	$1,342
Starling Bank Ltd. Series D	6/18/21	$1,934
Wasabi Holdings, Inc. Series C	3/31/21	$4,052

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Fund (Amounts in thousands)	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Realized Gain/Loss	Change in Unrealized appreciation (depreciation)	Value, end of period	% ownership, end of period
Fidelity Cash Central Fund 0.06%	$55,799	$259,904	$266,372	$30	$--	$(1)	$49,330	0.1%
Fidelity Securities Lending Cash Central Fund 0.06%	3,813	114,810	101,958	21	--	--	16,665	0.0%
Total	$59,612	$374,714	$368,330	$51	$--	$(1)	$65,995

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.

Investment Valuation

The following is a summary of the inputs used, as of October 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

	Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
(Amounts in thousands)
Investments in Securities:
Equities:
Communication Services	$87,789	$53,508	$34,281	$--
Consumer Discretionary	216,754	110,712	101,990	4,052
Consumer Staples	129,778	38,409	91,369	--
Energy	61,188	61,188	--	--
Financials	314,900	191,524	121,460	1,916
Health Care	259,974	125,582	134,392	--
Industrials	394,413	247,447	146,966	--
Information Technology	338,960	195,309	142,678	973
Materials	102,950	69,729	33,221	--
Real Estate	11,056	6,341	4,715	--
Money Market Funds	65,995	65,995	--	--
Total Investments in Securities:	$1,983,757	$1,165,744	$811,072	$6,941

See accompanying notes which are an integral part of the financial statements.

Financial Statements

Statement of Assets and Liabilities

Amounts in thousands (except per-share amounts)		October 31, 2021
Assets
Investment in securities, at value (including securities loaned of $15,737) — See accompanying schedule: Unaffiliated issuers (cost $1,093,329)	$1,917,762
Fidelity Central Funds (cost $65,995)	65,995
Total Investment in Securities (cost $1,159,324)		$1,983,757
Receivable for investments sold		2,113
Receivable for fund shares sold		817
Dividends receivable		4,925
Reclaims receivable		3,346
Distributions receivable from Fidelity Central Funds		7
Prepaid expenses		3
Other receivables		116
Total assets		1,995,084
Liabilities
Payable for investments purchased	$7,107
Payable for fund shares redeemed	3,944
Accrued management fee	1,044
Distribution and service plan fees payable	236
Other affiliated payables	330
Other payables and accrued expenses	3,505
Collateral on securities loaned	16,665
Total liabilities		32,831
Net Assets		$1,962,253
Net Assets consist of:
Paid in capital		$967,159
Total accumulated earnings (loss)		995,094
Net Assets		$1,962,253
Net Asset Value and Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($621,221 ÷ 19,102.8 shares)^(a)		$32.52
Maximum offering price per share (100/94.25 of $32.52)		$34.50
Class M:
Net Asset Value and redemption price per share ($183,285 ÷ 5,696.8 shares)^(a)		$32.17
Maximum offering price per share (100/96.50 of $32.17)		$33.34
Class C:
Net Asset Value and offering price per share ($39,465 ÷ 1,279.8 shares)^(a)		$30.84
Class I:
Net Asset Value, offering price and redemption price per share ($725,432 ÷ 21,847.9 shares)		$33.20
Class Z:
Net Asset Value, offering price and redemption price per share ($392,850 ÷ 11,836.8 shares)		$33.19

(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Statement of Operations

Amounts in thousands		Year ended October 31, 2021
Investment Income
Dividends		$28,231
Foreign tax reclaims		3,465
Income from Fidelity Central Funds (including $21 from security lending)		51
Income before foreign taxes withheld		31,747
Less foreign taxes withheld		(4,354)
Total income		27,393
Expenses
Management fee	$12,232
Transfer agent fees	3,079
Distribution and service plan fees	2,880
Accounting fees	833
Custodian fees and expenses	239
Independent trustees' fees and expenses	7
Registration fees	82
Audit	76
Legal	5
Miscellaneous	7
Total expenses before reductions	19,440
Expense reductions	(30)
Total expenses after reductions		19,410
Net investment income (loss)		7,983
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers (net of foreign taxes of $2)	176,166
Foreign currency transactions	(54)
Total net realized gain (loss)		176,112
Change in net unrealized appreciation (depreciation) on:
Investment securities:
Unaffiliated issuers (net of increase in deferred foreign taxes of $2,096)	284,905
Fidelity Central Funds	(1)
Assets and liabilities in foreign currencies	(116)
Total change in net unrealized appreciation (depreciation)		284,788
Net gain (loss)		460,900
Net increase (decrease) in net assets resulting from operations		$468,883

See accompanying notes which are an integral part of the financial statements.

Statement of Changes in Net Assets

Amounts in thousands	Year ended October 31, 2021	Year ended October 31, 2020
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$7,983	$4,407
Net realized gain (loss)	176,112	36,779
Change in net unrealized appreciation (depreciation)	284,788	91,127
Net increase (decrease) in net assets resulting from operations	468,883	132,313
Distributions to shareholders	(621)	(23,410)
Share transactions - net increase (decrease)	(110,537)	(123,276)
Total increase (decrease) in net assets	357,725	(14,373)
Net Assets
Beginning of period	1,604,528	1,618,901
End of period	$1,962,253	$1,604,528

See accompanying notes which are an integral part of the financial statements.

Financial Highlights

Fidelity Advisor Diversified International Fund Class A

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$25.10	$23.28	$21.08	$23.43	$19.38
Income from Investment Operations
Net investment income (loss)^A	.09	.04	.21	.21	.17
Net realized and unrealized gain (loss)	7.33	2.11	2.90	(2.33)^B	4.11
Total from investment operations	7.42	2.15	3.11	(2.12)	4.28
Distributions from net investment income	–	(.26)	(.17)	(.16)	(.19)
Distributions from net realized gain	–	(.07)	(.74)	(.07)	(.05)
Total distributions	–	(.33)	(.91)	(.23)	(.23)^C
Redemption fees added to paid in capital^A	–	–	–	–	–^D
Net asset value, end of period	$32.52	$25.10	$23.28	$21.08	$23.43
Total Return^E,^F	29.56%	9.32%	15.57%	(9.14)%^B	22.39%
Ratios to Average Net Assets^G,^H
Expenses before reductions	1.16%	1.18%	1.19%	1.19%	1.21%
Expenses net of fee waivers, if any	1.15%	1.18%	1.19%	1.19%	1.21%
Expenses net of all reductions	1.15%	1.17%	1.19%	1.17%	1.20%
Net investment income (loss)	.30%	.16%	.97%	.89%	.82%
Supplemental Data
Net assets, end of period (in millions)	$621	$514	$530	$463	$579
Portfolio turnover rate^I	30%	30%	37%^I	32%	44%

^A Calculated based on average shares outstanding during the period.

^B Net realized and unrealized gain (loss) per share reflects proceeds received from litigation which amounted to $.11 per share. Excluding these litigation proceeds, the total return would have been (9.62)%.

^C Total distributions per share do not sum due to rounding.

^D Amount represents less than $.005 per share.

^E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^F Total returns do not include the effect of the sales charges.

^G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

^H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

^I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Diversified International Fund Class M

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$24.90	$23.10	$20.91	$23.24	$19.21
Income from Investment Operations
Net investment income (loss)^A	.01	(.03)	.15	.14	.12
Net realized and unrealized gain (loss)	7.26	2.10	2.88	(2.31)^B	4.08
Total from investment operations	7.27	2.07	3.03	(2.17)	4.20
Distributions from net investment income	–	(.20)	(.11)	(.09)	(.13)
Distributions from net realized gain	–	(.07)	(.74)	(.07)	(.05)
Total distributions	–	(.27)	(.84)^C	(.16)	(.17)^C
Redemption fees added to paid in capital^A	–	–	–	–	–^D
Net asset value, end of period	$32.17	$24.90	$23.10	$20.91	$23.24
Total Return^E,^F	29.20%	9.04%	15.27%	(9.40)%^B	22.10%
Ratios to Average Net Assets^G,^H
Expenses before reductions	1.41%	1.45%	1.46%	1.46%	1.48%
Expenses net of fee waivers, if any	1.41%	1.45%	1.46%	1.46%	1.47%
Expenses net of all reductions	1.41%	1.44%	1.46%	1.44%	1.47%
Net investment income (loss)	.04%	(.11)%	.70%	.62%	.56%
Supplemental Data
Net assets, end of period (in millions)	$183	$159	$173	$175	$224
Portfolio turnover rate^I	30%	30%	37%^J	32%	44%

^A Calculated based on average shares outstanding during the period.

^C Total distributions per share do not sum due to rounding.

^D Amount represents less than $.005 per share.

^E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^F Total returns do not include the effect of the sales charges.

^I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^J Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Diversified International Fund Class C

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$23.99	$22.20	$20.11	$22.35	$18.48
Income from Investment Operations
Net investment income (loss)^A	(.14)	(.14)	.04	.03	.01
Net realized and unrealized gain (loss)	6.99	2.01	2.79	(2.23)^B	3.94
Total from investment operations	6.85	1.87	2.83	(2.20)	3.95
Distributions from net investment income	–	(.01)	–	–	(.03)
Distributions from net realized gain	–	(.07)	(.74)	(.04)	(.05)
Total distributions	–	(.08)	(.74)	(.04)	(.08)
Redemption fees added to paid in capital^A	–	–	–	–	–^C
Net asset value, end of period	$30.84	$23.99	$22.20	$20.11	$22.35
Total Return^D,^E	28.55%	8.44%	14.72%	(9.85)%^B	21.46%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.95%	1.98%	1.98%	1.95%	1.96%
Expenses net of fee waivers, if any	1.95%	1.98%	1.98%	1.95%	1.96%
Expenses net of all reductions	1.95%	1.96%	1.97%	1.94%	1.96%
Net investment income (loss)	(.50)%	(.64)%	.18%	.13%	.07%
Supplemental Data
Net assets, end of period (in millions)	$39	$48	$59	$150	$211
Portfolio turnover rate^H	30%	30%	37%^H	32%	44%

^A Calculated based on average shares outstanding during the period.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the contingent deferred sales charge.

^F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

^G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Diversified International Fund Class I

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$25.57	$23.68	$21.44	$23.85	$19.73
Income from Investment Operations
Net investment income (loss)^A	.17	.10	.27	.27	.24
Net realized and unrealized gain (loss)	7.47	2.16	2.95	(2.37)^B	4.18
Total from investment operations	7.64	2.26	3.22	(2.10)	4.42
Distributions from net investment income	(.01)	(.30)	(.24)	(.24)	(.25)
Distributions from net realized gain	–	(.07)	(.74)	(.07)	(.05)
Total distributions	(.01)	(.37)	(.98)	(.31)	(.30)
Redemption fees added to paid in capital^A	–	–	–	–	–^C
Net asset value, end of period	$33.20	$25.57	$23.68	$21.44	$23.85
Total Return^D	29.87%	9.63%	15.89%	(8.94)%^B	22.75%
Ratios to Average Net Assets^E,^F
Expenses before reductions	.90%	.92%	.92%	.92%	.93%
Expenses net of fee waivers, if any	.90%	.92%	.92%	.92%	.93%
Expenses net of all reductions	.90%	.91%	.91%	.91%	.92%
Net investment income (loss)	.55%	.42%	1.24%	1.16%	1.10%
Supplemental Data
Net assets, end of period (in millions)	$725	$595	$583	$807	$953
Portfolio turnover rate^G	30%	30%	37%^H	32%	44%

^A Calculated based on average shares outstanding during the period.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

^F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

^G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^H Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Diversified International Fund Class Z

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$25.55	$23.67	$21.44	$23.85	$19.73
Income from Investment Operations
Net investment income (loss)^A	.22	.14	.30	.31	.27
Net realized and unrealized gain (loss)	7.46	2.15	2.94	(2.37)^B	4.18
Total from investment operations	7.68	2.29	3.24	(2.06)	4.45
Distributions from net investment income	(.04)	(.34)	(.28)	(.28)	(.28)
Distributions from net realized gain	–	(.07)	(.74)	(.07)	(.05)
Total distributions	(.04)	(.41)	(1.01)^C	(.35)	(.33)
Redemption fees added to paid in capital^A	–	–	–	–	–^D
Net asset value, end of period	$33.19	$25.55	$23.67	$21.44	$23.85
Total Return^E	30.10%	9.78%	16.04%	(8.78)%^B	22.94%
Ratios to Average Net Assets^F,^G
Expenses before reductions	.76%	.77%	.77%	.78%	.78%
Expenses net of fee waivers, if any	.76%	.77%	.77%	.78%	.78%
Expenses net of all reductions	.76%	.76%	.77%	.76%	.78%
Net investment income (loss)	.70%	.57%	1.39%	1.30%	1.25%
Supplemental Data
Net assets, end of period (in millions)	$393	$289	$274	$298	$286
Portfolio turnover rate^H	30%	30%	37%^H	32%	44%

^A Calculated based on average shares outstanding during the period.

^C Total distributions per share do not sum due to rounding.

^D Amount represents less than $.005 per share.

^E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Notes to Financial Statements

For the period ended October 31, 2021
(Amounts in thousands except percentages)

1. Organization.

Fidelity Advisor Diversified International Fund (the Fund) is a fund of Fidelity Advisor Series VIII (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Effective June 21, 2021, Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. Prior to June 21, 2021, Class C shares automatically converted to Class A shares after a holding period of ten years from the initial date of purchase, with certain exceptions.

2. Investments in Fidelity Central Funds.

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense Ratio^(a)
Fidelity Money Market Central Funds	Fidelity Management & Research Company LLC (FMR)	Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.	Short-term Investments	Less than .005%

(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 – quoted prices in active markets for identical investments
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of October 31, 2021 is included at the end of the Fund's Schedule of Investments.

Foreign Currency. Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Realized gains and losses on foreign currency transactions arise from the disposition of foreign currency, realized changes in the value of foreign currency between the trade and settlement dates on security transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on transaction date and the U.S. dollar equivalent of the amounts actually received or paid. Unrealized gains and losses on assets and liabilities in foreign currencies arise from changes in the value of foreign currency, and from assets and liabilities denominated in foreign currencies, other than investments, which are held at period end.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign tax reclaims. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign tax reclaims. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.

Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of October 31, 2021, the Fund did not have any unrecognized tax benefits in the financial statements; nor is the Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$824,585
Gross unrealized depreciation	(16,283)
Net unrealized appreciation (depreciation)	$808,302
Tax Cost	$1,175,455

The tax-based components of distributable earnings as of period end were as follows:

Undistributed ordinary income	$22,954
Undistributed long-term capital gain	$167,226
Net unrealized appreciation (depreciation) on securities and other investments	$808,327

The tax character of distributions paid was as follows:

	October 31, 2021	October 31, 2020
Ordinary Income	$621	$ 23,410

Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Advisor Diversified International Fund	539,320	629,593

5. Fees and Other Transactions with Affiliates.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Company LLC (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

	Distribution Fee	Service Fee	Total Fees	Retained by FDC
Class A	-%	.25%	$1,512	$16
Class M	.25%	.25%	906	13
Class C	.75%	.25%	462	31
			$2,880	$60

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class M shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class M and Class C redemptions. The deferred sales charges are 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class M shares.

For the period, sales charge amounts retained by FDC were as follows:

	Retained by FDC
Class A	$39
Class M	6
Class C^(a)	2
	$47

(a) When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company LLC (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class Z. FIIOC receives an asset-based fee of Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
Class A	$1,151	.19
Class M	360	.20
Class C	108	.23
Class I	1,311	.19
Class Z	149	.04
	$3,079

Accounting Fees. Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. For the period, the fees were equivalent to the following annual rates:

	% of Average Net Assets
Fidelity Advisor Diversified International Fund	.04

Brokerage Commissions. A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

	Amount
Fidelity Advisor Diversified International Fund	$1

Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

	Purchases ($)	Sales ($)	Realized Gain (Loss) ($)
Fidelity Advisor Diversified International Fund	8,240	11,831	5,857

Other. During the period, the investment adviser reimbursed the Fund for certain losses as follows:

	Amount ($)
Fidelity Advisor Diversified International Fund	16

6. Committed Line of Credit.

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.

	Amount
Fidelity Advisor Diversified International Fund	$3

7. Security Lending.

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:

	Total Security Lending Fees Paid to NFS	Security Lending Income From Securities Loaned to NFS	Value of Securities Loaned to NFS at Period End
Fidelity Advisor Diversified International Fund	$2	$–	$–

8. Expense Reductions.

During the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $30.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Diversified International Fund
Distributions to shareholders
Class A	$–	$7,383
Class M	–	1,999
Class C	–	209
Class I	139	9,229
Class Z	482	4,590
Total	$621	$23,410

10. Share Transactions.

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

	Shares	Shares	Dollars	Dollars
	Year ended October 31, 2021	Year ended October 31, 2020	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Diversified International Fund
Class A
Shares sold	1,931	1,999	$57,801	$45,151
Reinvestment of distributions	–	295	–	6,962
Shares redeemed	(3,291)	(4,592)	(99,463)	(107,952)
Net increase (decrease)	(1,360)	(2,298)	$(41,662)	$(55,839)
Class M
Shares sold	287	277	$8,523	$6,529
Reinvestment of distributions	–	83	–	1,957
Shares redeemed	(971)	(1,460)	(29,122)	(33,466)
Net increase (decrease)	(684)	(1,100)	$(20,599)	$(24,980)
Class C
Shares sold	133	121	$3,803	$2,737
Reinvestment of distributions	–	9	–	200
Shares redeemed	(843)	(808)	(24,305)	(17,926)
Net increase (decrease)	(710)	(678)	$(20,502)	$(14,989)
Class I
Shares sold	3,394	7,900	$104,382	$192,033
Reinvestment of distributions	4	311	102	7,450
Shares redeemed	(4,825)	(9,542)	(149,482)	(225,440)
Net increase (decrease)	(1,427)	(1,331)	$(44,998)	$(25,957)
Class Z
Shares sold	2,717	5,705	$84,432	$137,712
Reinvestment of distributions	16	148	452	3,531
Shares redeemed	(2,214)	(6,124)	(67,660)	(142,755)
Net increase (decrease)	519	(271)	$17,224	$(1,512)

11. Other.

Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, the fund may also enter into contracts that provide general indemnifications. The fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the fund. The risk of material loss from such claims is considered remote.

12. Coronavirus (COVID-19) Pandemic.

An outbreak of COVID-19 first detected in China during December 2019 has since spread globally and was declared a pandemic by the World Health Organization during March 2020. Developments that disrupt global economies and financial markets, such as the COVID-19 pandemic, may magnify factors that affect the Fund's performance.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Advisor Series VIII and Shareholders of Fidelity Advisor Diversified International Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity Advisor Diversified International Fund (one of the funds constituting Fidelity Advisor Series VIII, referred to hereafter as the “Fund”) as of October 31, 2021, the related statement of operations for the year ended October 31, 2021, the statement of changes in net assets for each of the two years in the period ended October 31, 2021, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2021 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2021, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2021 and the financial highlights for each of the five years in the period ended October 31, 2021 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2021 by correspondence with the custodian, issuers of privately offered securities and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

December 14, 2021

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

Trustees and Officers

The Trustees, Members of the Advisory Board (if any), and officers of the trust and fund, as applicable, are listed below. The Board of Trustees governs the fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee the fund's activities, review contractual arrangements with companies that provide services to the fund, oversee management of the risks associated with such activities and contractual arrangements, and review the fund's performance. Except for Jonathan Chiel, each of the Trustees oversees 318 funds. Mr. Chiel oversees 179 funds.

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the fund is referred to herein as an Independent Trustee. Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.

The fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-877-208-0098.

Experience, Skills, Attributes, and Qualifications of the Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.

In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing the fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the fund, is provided below.

Board Structure and Oversight Function. Robert A. Lawrence is an interested person and currently serves as Acting Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the fund. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. David M. Thomas serves as Lead Independent Trustee and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.

Fidelity^® funds are overseen by different Boards of Trustees. The fund's Board oversees Fidelity's high income and certain equity funds, and other Boards oversee Fidelity's investment-grade bond, money market, asset allocation, and other equity funds. The asset allocation funds may invest in Fidelity^® funds overseen by the fund's Board. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity^® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity^® funds overseen by each Board.

The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, the fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the fund's activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the fund's business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the fund are carried out by or through FMR, its affiliates, and other service providers, the fund's exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the fund's activities, oversight is exercised primarily through the Operations, Audit, and Compliance Committees. Appropriate personnel, including but not limited to the fund's Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the fund's Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity^® funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees."

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Mr. Chiel also serves as Trustee of other Fidelity^® funds. Mr. Chiel is Executive Vice President and General Counsel for FMR LLC (diversified financial services company, 2012-present). Previously, Mr. Chiel served as general counsel (2004-2012) and senior vice president and deputy general counsel (2000-2004) for John Hancock Financial Services; a partner with Choate, Hall & Stewart (1996-2000) (law firm); and an Assistant United States Attorney for the United States Attorney’s Office of the District of Massachusetts (1986-95), including Chief of the Criminal Division (1993-1995). Mr. Chiel is a director on the boards of the Boston Bar Foundation and the Maimonides School.

Bettina Doulton (1964)

Year of Election or Appointment: 2021

Trustee

Ms. Doulton also serves as Trustee of other Fidelity^® funds. Prior to her retirement, Ms. Doulton served in a variety of positions at Fidelity Investments, including as a managing director of research (2006-2007), portfolio manager to certain Fidelity^® funds (1993-2005), equity analyst and portfolio assistant (1990-1993), and research assistant (1987-1990). Ms. Doulton currently owns and operates Phi Builders + Architects and Cellardoor Winery. Previously, Ms. Doulton served as a member of the Board of Brown Capital Management, LLC (2014-2018).

Robert A. Lawrence (1952)

Year of Election or Appointment: 2020

Trustee

Acting Chairman of the Board of Trustees

Mr. Lawrence also serves as Trustee of other funds. Previously, Mr. Lawrence served as a Member of the Advisory Board of certain funds. Prior to his retirement in 2008, Mr. Lawrence served as Vice President of certain Fidelity^® funds (2006-2008), Senior Vice President, Head of High Income Division of Fidelity Management & Research Company (investment adviser firm, 2006-2008), and President of Fidelity Strategic Investments (investment adviser firm, 2002-2005).

* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.

+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for the fund.

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Thomas P. Bostick (1956)

Year of Election or Appointment: 2021

Trustee

Lieutenant General Bostick also serves as Trustee of other Fidelity® funds. Prior to his retirement, General Bostick (United States Army, Retired) held a variety of positions within the U.S. Army, including Commanding General and Chief of Engineers, U.S. Army Corps of Engineers (2012-2016) and Deputy Chief of Staff and Director of Human Resources, U.S. Army (2009-2012). General Bostick currently serves as a member of the Board and Finance and Governance Committees of CSX Corporation (transportation, 2020-present) and a member of the Board and Corporate Governance and Nominating Committee of Perma-Fix Environmental Services, Inc. (nuclear waste management, 2020-present). General Bostick serves as Chief Executive Officer of Bostick Global Strategies, LLC (consulting, 2016-present) and Managing Partner, Sustainability, of Ridge-Lane Limited Partners (strategic advisory and venture development, 2016-present). Previously, General Bostick served as a Member of the Advisory Board of certain Fidelity® funds (2021), President, Intrexon Bioengineering (2018-2020) and Chief Operating Officer (2017-2020) and Senior Vice President of the Environment Sector (2016-2017) of Intrexon Corporation (biopharmaceutical company).

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Mr. Dirks also serves as Trustee of other Fidelity^® funds. Prior to his retirement in May 2003, Mr. Dirks served as Chief Operating Officer and as a member of the Board of The Depository Trust & Clearing Corporation (financial markets infrastructure), President, Chief Operating Officer and a member of the Board of The Depository Trust Company (DTC), President and a member of the Board of the National Securities Clearing Corporation (NSCC), Chief Executive Officer and a member of the Board of the Government Securities Clearing Corporation and Chief Executive Officer and a member of the Board of the Mortgage-Backed Securities Clearing Corporation. Mr. Dirks currently serves as a member of the Finance Committee (2016-present) and Board (2017-present) and is Treasurer (2018-present) of the Asolo Repertory Theatre.

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Mr. Donahue also serves as Trustee of other Fidelity^® funds. Mr. Donahue serves as President and Chief Executive Officer of Miranda Partners, LLC (risk consulting for the financial services industry, 2012-present). Previously, Mr. Donahue served as Chief Executive Officer (2006-2012), Chief Operating Officer (2003-2006) and Managing Director, Customer Marketing and Development (1999-2003) of The Depository Trust & Clearing Corporation (financial markets infrastructure). Mr. Donahue currently serves as a member (2007-present) and Co-Chairman (2016-present) of the Board of United Way of New York and a member of the Board of NYC Leadership Academy (2012-present). Mr. Donahue previously served as a member of the Advisory Board of certain Fidelity^® funds (2015-2018).

Vicki L. Fuller (1957)

Year of Election or Appointment: 2020

Trustee

Ms. Fuller also serves as Trustee of other Fidelity^® funds. Previously, Ms. Fuller served as a member of the Advisory Board of certain Fidelity^® funds (2018-2020), Chief Investment Officer of the New York State Common Retirement Fund (2012-2018) and held a variety of positions at AllianceBernstein L.P. (global asset management, 1985-2012), including Managing Director (2006-2012) and Senior Vice President and Senior Portfolio Manager (2001-2006). Ms. Fuller currently serves as a member of the Board, Audit Committee and Nominating and Governance Committee of The Williams Companies, Inc. (natural gas infrastructure, 2018-present), as a member of the Board, Audit Committee and Nominating and Governance Committee of two Blackstone business development companies (2020-present) and as a member of the Board of Treliant, LLC (consulting, 2019-present).

Patricia L. Kampling (1959)

Year of Election or Appointment: 2020

Trustee

Ms. Kampling also serves as Trustee of other Fidelity^® funds. Prior to her retirement, Ms. Kampling served as Chairman of the Board and Chief Executive Officer (2012-2019), President and Chief Operating Officer (2011-2012) and Executive Vice President and Chief Financial Officer (2010-2011) of Alliant Energy Corporation. Ms. Kampling currently serves as a member of the Board, Finance Committee and Governance, Compensation and Nominating Committee of Xcel Energy Inc. (utilities company, 2020-present) and as a member of the Board, Audit, Finance and Risk Committee and Safety, Environmental, Technology and Operations Committee of American Water Works Company, Inc. (utilities company, 2019-present). In addition, Ms. Kampling currently serves as a member of the Board of the Nature Conservancy, Wisconsin Chapter (2019-present). Previously, Ms. Kampling served as a Member of the Advisory Board of certain Fidelity^® funds (2020), a member of the Board, Compensation Committee and Executive Committee and Chair of the Audit Committee of Briggs & Stratton Corporation (manufacturing, 2011-2021), a member of the Board of Interstate Power and Light Company (2012-2019) and Wisconsin Power and Light Company (2012-2019) (each a subsidiary of Alliant Energy Corporation) and as a member of the Board and Workforce Development Committee of the Business Roundtable (2018-2019).

Thomas A. Kennedy (1955)

Year of Election or Appointment: 2021

Trustee

Mr. Kennedy also serves as Trustee of other Fidelity^® funds. Previously, Mr. Kennedy served as a Member of the Advisory Board of certain Fidelity^® funds (2020) and held a variety of positions at Raytheon Company (aerospace and defense, 1983-2020), including Chairman and Chief Executive Officer (2014-2020) and Executive Vice President and Chief Operating Officer (2013-2014). Mr. Kennedy currently serves as Executive Chairman of the Board of Directors of Raytheon Technologies Corporation (aerospace and defense, 2020-present). He is also a member of the Rutgers School of Engineering Industry Advisory Board (2011-present) and a member of the UCLA Engineering Dean’s Executive Board (2016-present).

Oscar Munoz (1959)

Year of Election or Appointment: 2021

Trustee

Mr. Munoz also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Munoz served as Executive Chairman (2020-2021), Chief Executive Officer (2015-2020), President (2015-2016) and a member of the Board (2010-2021) of United Airlines Holdings, Inc. Mr. Munoz currently serves as a member of the Board of CBRE Group, Inc. (commercial real estate, 2020-present), a member of the Board of Univision Communications, Inc. (Hispanic media, 2020-present) and a member of the Advisory Board of Salesforce.com, Inc. (cloud-based software, 2020-present). Previously, Mr. Munoz served as a Member of the Advisory Board of certain Fidelity® funds (2021).

Garnett A. Smith (1947)

Year of Election or Appointment: 2018

Trustee

Mr. Smith also serves as Trustee of other Fidelity^® funds. Prior to his retirement, Mr. Smith served as Chairman and Chief Executive Officer (1990-1997) and President (1986-1990) of Inbrand Corp. (manufacturer of personal absorbent products). Prior to his employment with Inbrand Corp., he was employed by a retail fabric chain and North Carolina National Bank (now Bank of America). Mr. Smith previously served as a member of the Advisory Board of certain Fidelity^® funds (2012-2013).

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Lead Independent Trustee

Mr. Thomas also serves as Trustee of other Fidelity^® funds. Previously, Mr. Thomas served as Executive Chairman (2005-2006) and Chairman and Chief Executive Officer (2000-2005) of IMS Health, Inc. (pharmaceutical and healthcare information solutions). Mr. Thomas currently serves as a member of the Board of Fortune Brands Home and Security (home and security products, 2004-present) and Presiding Director (2013-present) of Interpublic Group of Companies, Inc. (marketing communication).

Susan Tomasky (1953)

Year of Election or Appointment: 2020

Trustee

Ms. Tomasky also serves as Trustee of other Fidelity^® funds. Prior to her retirement, Ms. Tomasky served in various executive officer positions at American Electric Power Company, Inc. (1998-2011), including most recently as President of AEP Transmission (2007-2011). Ms. Tomasky currently serves as a member of the Board and Sustainability Committee and as Chair of the Audit Committee of Marathon Petroleum Corporation (2018-present) and as a member of the Board, Corporate Governance Committee and Organization and Compensation Committee and as Chair of the Audit Committee of Public Service Enterprise Group, Inc. (utilities company, 2012-present). In addition, Ms. Tomasky currently serves as a member (2009-present) and President (2020-present) of the Board of the Royal Shakespeare Company – America (2009-present), as a member of the Board of the Columbus Association for the Performing Arts (2011-present) and as a member of the Board and Investment Committee of Kenyon College (2016-present). Previously, Ms. Tomasky served as a Member of the Advisory Board of certain Fidelity^® funds (2020), as a member of the Board of the Columbus Regional Airport Authority (2007-2020), as a member of the Board (2011-2018) and Lead Independent Director (2015-2018) of Andeavor Corporation (previously Tesoro Corporation) (independent oil refiner and marketer) and as a member of the Board of Summit Midstream Partners LP (energy, 2012-2018).

Michael E. Wiley (1950)

Year of Election or Appointment: 2020

Trustee

Mr. Wiley also serves as Trustee of other Fidelity^® funds. Previously, Mr. Wiley served as a member of the Advisory Board of certain Fidelity^® funds (2018-2020), Chairman, President and CEO of Baker Hughes, Inc. (oilfield services, 2000-2004). Mr. Wiley also previously served as a member of the Board of Andeavor Corporation (independent oil refiner and marketer, 2005-2018), a member of the Board of Andeavor Logistics LP (natural resources logistics, 2015-2018) and a member of the Board of High Point Resources (exploration and production, 2005-2020).

Advisory Board Members and Officers:

Correspondence intended for a Member of the Advisory Board (if any) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235. Correspondence intended for an officer or Peter S. Lynch may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.

Name, Year of Birth; Principal Occupation

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Mr. Lynch also serves as a Member of the Advisory Board of other Fidelity^® funds. Mr. Lynch is Vice Chairman and a Director of Fidelity Management & Research Company LLC (investment adviser firm). In addition, Mr. Lynch serves as a Trustee of Boston College and as the Chairman of the Inner-City Scholarship Fund. Previously, Mr. Lynch served as Vice Chairman and a Director of FMR Co., Inc. (investment adviser firm) and on the Special Olympics International Board of Directors (1997-2006).

Craig S. Brown (1977)

Year of Election or Appointment: 2019

Assistant Treasurer

Mr. Brown also serves as an officer of other funds. Mr. Brown serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2013-present).

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

Mr. Burke also serves as Chief Financial Officer of other funds. Mr. Burke serves as Head of Investment Operations for Fidelity Fund and Investment Operations (2018-present) and is an employee of Fidelity Investments (1998-present). Previously Mr. Burke served as head of Asset Management Investment Operations (2012-2018).

William C. Coffey (1969)

Year of Election or Appointment: 2019

Assistant Secretary

Mr. Coffey also serves as Assistant Secretary of other funds. He is Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2010-present), and is an employee of Fidelity Investments. Previously, Mr. Coffey served as Secretary and CLO of certain funds (2018-2019); CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company and FMR Co., Inc. (investment adviser firms, 2018-2019); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2018-2019); CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2018-2019); and Assistant Secretary of certain funds (2009-2018).

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Mr. Cohen also serves as Vice President of other funds. Mr. Cohen serves as Co-Head of Equity (2018-present), a Director of Fidelity Management & Research (Japan) Limited (investment adviser firm, 2016-present), and is an employee of Fidelity Investments. Previously, Mr. Cohen served as Executive Vice President of Fidelity SelectCo, LLC (2019), Head of Global Equity Research (2016-2018), Chief Investment Officer - Equity and a Director of Fidelity Management & Research (U.K.) Inc. (investment adviser firm, 2013-2015) and as a Director of Fidelity Management & Research (Hong Kong) Limited (investment adviser firm, 2017).

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Mr. Davis also serves as an officer of other funds. Mr. Davis serves as Assistant Treasurer of FIMM, LLC (2021-present), FMR Capital, Inc. (2017-present), FD Funds GP LLC (2021-present), FD Funds Holding LLC (2021-present), and FD Funds Management LLC (2021-present); and is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (diversified financial services company, 2003-2010).

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Ms. Del Prato also serves as an officer of other funds. Ms. Del Prato serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2017-present). Previously, Ms. Del Prato served as President and Treasurer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2018-2020). Prior to joining Fidelity Investments, Ms. Del Prato served as a Managing Director and Treasurer of the JPMorgan Mutual Funds (2014-2017). Prior to JPMorgan, Ms. Del Prato served as a partner at Cohen Fund Audit Services (accounting firm, 2012-2013) and KPMG LLP (accounting firm, 2004-2012).

Colm A. Hogan (1973)

Year of Election or Appointment: 2020

Assistant Treasurer

Mr. Hogan also serves as an officer of other funds. Mr. Hogan serves as Assistant Treasurer of FIMM, LLC (2021-present) and FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2005-present). Previously, Mr. Hogan served as Deputy Treasurer of certain Fidelity^® funds (2016-2020) and Assistant Treasurer of certain Fidelity^® funds (2016-2018).

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Ms. Holding also serves as Vice President of other funds. Ms. Holding serves as Co-Head of Equity (2018-present) and is an employee of Fidelity Investments (2013-present). Previously, Ms. Holding served as Executive Vice President of Fidelity SelectCo, LLC (2019) and as Chief Investment Officer of Fidelity Institutional Asset Management (2013-2018).

Cynthia Lo Bessette (1969)

Year of Election or Appointment: 2019

Secretary and Chief Legal Officer (CLO)

Ms. Lo Bessette also serves as an officer of other funds. Ms. Lo Bessette serves as CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company LLC (investment adviser firm, 2019-present); CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2019-present); Secretary of FD Funds GP LLC (2021-present), FD Funds Holding LLC (2021-present), and FD Funds Management LLC (2021-present); and Assistant Secretary of FIMM, LLC (2019-present). She is a Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2019-present), and is an employee of Fidelity Investments. Previously, Ms. Lo Bessette served as CLO, Secretary, and Senior Vice President of FMR Co., Inc. (investment adviser firm, 2019); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2019). Prior to joining Fidelity Investments, Ms. Lo Bessette was Executive Vice President, General Counsel (2016-2019) and Senior Vice President, Deputy General Counsel (2015-2016) of OppenheimerFunds (investment management company) and Deputy Chief Legal Officer (2013-2015) of Jennison Associates LLC (investment adviser firm).

Chris Maher (1972)

Year of Election or Appointment: 2020

Deputy Treasurer

Mr. Maher also serves as an officer of other funds. Mr. Maher serves as Assistant Treasurer of FIMM, LLC (2021-present) and FMR Capital, Inc. (2017-present), and is an employee of Fidelity Investments (2008-present). Previously, Mr. Maher served as Assistant Treasurer of certain funds (2013-2020); Vice President of Asset Management Compliance (2013), Vice President of the Program Management Group of FMR (investment adviser firm, 2010-2013), and Vice President of Valuation Oversight (2008-2010).

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2020

Chief Compliance Officer

Mr. Pogorelec also serves as Chief Compliance Officer of other funds. Mr. Pogorelec is a senior Vice President of Asset Management Compliance for Fidelity Investments and is an employee of Fidelity Investments (2006-present). Previously, Mr. Pogorelec served as Vice President, Associate General Counsel for Fidelity Investments (2010-2020) and Assistant Secretary of certain Fidelity funds (2015-2020).

Brett Segaloff (1972)

Year of Election or Appointment: 2021

Anti-Money Laundering (AML) Officer

Mr. Segaloff also serves as an AML Officer of other funds and other related entities. He is Director, Anti-Money Laundering (2007-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments (1996-present).

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Ms. Smith also serves as an officer of other funds. Ms. Smith serves as Assistant Treasurer of FIMM, LLC (2021-present) and FMR Capital, Inc. (2017-present), is an employee of Fidelity Investments (2009-present), and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (accounting firm, 1996-2009). Previously, Ms. Smith served as Assistant Treasurer (2013-2019) and Deputy Treasurer (2013-2016) of certain Fidelity^® funds.

Jim Wegmann (1979)

Year of Election or Appointment: 2019

Assistant Treasurer

Mr. Wegmann also serves as an officer of other funds. Mr. Wegmann serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2011-present). Previously, Mr. Wegmann served as Assistant Treasurer of certain Fidelity® funds (2019-2021).

Shareholder Expense Example

As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2021 to October 31, 2021).

Actual Expenses

The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Annualized Expense Ratio-^A	Beginning Account Value May 1, 2021	Ending Account Value October 31, 2021	Expenses Paid During Period-^B May 1, 2021 to October 31, 2021
Fidelity Advisor Diversified International Fund
Class A	1.15%
Actual		$1,000.00	$1,080.80	$6.03
Hypothetical-^C		$1,000.00	$1,019.41	$5.85
Class M	1.40%
Actual		$1,000.00	$1,079.20	$7.34
Hypothetical-^C		$1,000.00	$1,018.15	$7.12
Class C	1.94%
Actual		$1,000.00	$1,076.40	$10.15
Hypothetical-^C		$1,000.00	$1,015.43	$9.86
Class I	.90%
Actual		$1,000.00	$1,081.80	$4.72
Hypothetical-^C		$1,000.00	$1,020.67	$4.58
Class Z	.75%
Actual		$1,000.00	$1,082.90	$3.94
Hypothetical-^C		$1,000.00	$1,021.42	$3.82

^A Annualized expense ratio reflects expenses net of applicable fee waivers.

^B Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/ 365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.

^C 5% return per year before expenses

Distributions (Unaudited)

The Board of Trustees of Fidelity Advisor Diversified International Fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities, and dividends derived from net investment income:

	Pay Date	Record Date	Dividends	Capital Gains
Fidelity Advisor Diversified International Fund
Class A	12/06/2021	12/03/2021	$0.309	$2.849
Class M	12/06/2021	12/03/2021	$0.227	$2.849
Class C	12/06/2021	12/03/2021	$0.000	$2.847
Class I	12/06/2021	12/03/2021	$0.389	$2.849
Class Z	12/06/2021	12/03/2021	$0.437	$2.849

The fund hereby designates as a capital gain dividend with respect to the taxable year ended October 31, 2021, $ 167,225,923, or, if subsequently determined to be different, the net capital gain of such year.

Class I designates 24% and Class Z designates 15%; of the dividends distributed in December 2020, respectively during the fiscal year as qualifying for the dividends–received deduction for corporate shareholders.

Class I and Class Z designate 100% of the dividends distributed during the fiscal year as amounts which may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

The amounts per share which represent income derived from sources within, and taxes paid to, foreign countries or possessions of the United States are as follows:

	Pay Date	Income	Taxes
Fidelity Advisor Diversified International Fund
Class I	12/07/20	$0.0664	$0.0604
Class Z	12/07/20	$0.1034	$0.0604

The fund will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Advisor Diversified International Fund

Each year, the Board of Trustees, including the Independent Trustees (together, the Board), votes on the renewal of the management contract with Fidelity Management & Research Company LLC (FMR) and the sub-advisory agreements (together, the Advisory Contracts) for the fund. FMR and the sub-advisers are referred to herein as the Investment Advisers. The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, requests and considers a broad range of information relevant to the renewal of the Advisory Contracts throughout the year.

The Board meets regularly and, at each of its meetings, covers an extensive agenda of topics and materials and considers factors that are relevant to its annual consideration of the renewal of the fund's Advisory Contracts, including the services and support provided to the fund and its shareholders. The Board has established various standing committees (Committees), each composed of and chaired by Independent Trustees with varying backgrounds, to which the Board has assigned specific subject matter responsibilities in order to enhance effective decision-making by the Board. The Board, acting directly and through its Committees, requests and receives information concerning the annual consideration of the renewal of the fund's Advisory Contracts. The Board also meets as needed to review matters specifically related to the Board's annual consideration of the renewal of the Advisory Contracts. Members of the Board may also meet with trustees of other Fidelity funds through joint ad hoc committees to discuss certain matters relevant to all of the Fidelity funds.

At its May 2021 meeting, the Board unanimously determined to renew the fund's Advisory Contracts. In reaching its determination, the Board considered all factors it believed relevant, including (i) the nature, extent, and quality of the services provided to the fund and its shareholders (including the investment performance of the fund); (ii) the competitiveness of the fund's management fee and total expense ratio relative to peer funds; (iii) the total costs of the services provided by and the profits realized by Fidelity from its relationships with the fund; and (iv) the extent to which, if any, economies of scale exist and are realized as the fund grows, and whether any economies of scale are appropriately shared with fund shareholders.

In considering whether to renew the Advisory Contracts for the fund, the Board reached a determination, with the assistance of fund counsel and Independent Trustees' counsel and through the exercise of its business judgment, that the renewal of the Advisory Contracts was in the best interests of the fund and its shareholders and that the compensation payable under the Advisory Contracts was fair and reasonable. The Board's decision to renew the Advisory Contracts was not based on any single factor, but rather was based on a comprehensive consideration of all the information provided to the Board at its meetings throughout the year. The Board, in reaching its determination to renew the Advisory Contracts, was aware that shareholders of the fund have a broad range of investment choices available to them, including a wide choice among funds offered by Fidelity's competitors, and that the fund's shareholders, who have the opportunity to review and weigh the disclosure provided by the fund in its prospectus and other public disclosures, have chosen to invest in this fund, which is part of the Fidelity family of funds.

Nature, Extent, and Quality of Services Provided. The Board considered Fidelity's staffing as it relates to the fund, including the backgrounds of investment personnel of Fidelity, and also considered the fund's investment objective, strategies, and related investment philosophy. The Independent Trustees also had discussions with senior management of Fidelity's investment operations and investment groups. The Board considered the structure of the investment personnel compensation program and whether this structure provides appropriate incentives to act in the best interests of the fund. Additionally, the Board considered the portfolio managers' investments, if any, in the funds that they manage.

Resources Dedicated to Investment Management and Support Services. The Board and the Fund Oversight and Research Committees reviewed the general qualifications and capabilities of Fidelity's investment staff, including its size, education, experience, and resources, as well as Fidelity's approach to recruiting, training, managing, and compensating investment personnel. The Board noted that Fidelity has continued to increase the resources devoted to non-U.S. offices, including expansion of Fidelity's global investment organization. The Board also noted that Fidelity's analysts have extensive resources, tools and capabilities that allow them to conduct sophisticated quantitative and fundamental analysis, as well as credit analysis of issuers, counterparties and guarantors. Further, the Board considered that Fidelity's investment professionals have sufficient access to global information and data so as to provide competitive investment results over time, and that those professionals also have access to sophisticated tools that permit them to assess portfolio construction and risk and performance attribution characteristics continuously, as well as to transmit new information and research conclusions rapidly around the world. Additionally, in its deliberations, the Board considered Fidelity's trading, risk management, compliance, and technology and operations capabilities and resources, which are integral parts of the investment management process. The Board also considered Fidelity's investments in business continuity planning, and its success in continuously providing services to the fund notwithstanding the severe disruptions caused by the COVID-19 pandemic.

Shareholder and Administrative Services. The Board considered (i) the nature, extent, quality, and cost of advisory, administrative, and shareholder services performed by the Investment Advisers and their affiliates under the Advisory Contracts and under separate agreements covering transfer agency, pricing and bookkeeping, and securities lending services for the fund; (ii) the nature and extent of the supervision of third party service providers, principally custodians, subcustodians, and pricing vendors; and (iii) the resources devoted to, and the record of compliance with, the fund's compliance policies and procedures. The Board also reviewed the allocation of fund brokerage, including allocations to brokers affiliated with the Investment Advisers, the use of brokerage commissions to pay fund expenses, and the use of "soft" commission dollars to pay for research services.

The Board noted that the growth of fund assets over time across the complex allows Fidelity to reinvest in the development of services designed to enhance the value and convenience of the Fidelity funds as investment vehicles. These services include 24-hour access to account information and market information over the Internet and through telephone representatives, investor education materials and asset allocation tools, and the expanded availability of Fidelity Investor Centers.

The Board noted that, in the past, it and the boards of certain other Fidelity funds had formed an ad hoc Committee on Transfer Agency Fees to review the variety of transfer agency fee structures throughout the industry and Fidelity's competitive positioning with respect to industry participants.

Investment in a Large Fund Family. The Board considered the benefits to shareholders of investing in a Fidelity fund, including the benefits of investing in a fund that is part of a large family of funds offering a variety of investment disciplines and providing a large variety of mutual fund investor services. The Board noted that Fidelity had taken, or had made recommendations that resulted in the Fidelity funds taking, a number of actions over the previous year that benefited particular funds, including: (i) continuing to dedicate additional resources to Fidelity's investment research process, which includes meetings with management of issuers of securities in which the funds invest, and to the support of the senior management team that oversees asset management; (ii) continuing efforts to enhance Fidelity's global research capabilities; (iii) launching new funds and ETFs with innovative structures, strategies and pricing and making other enhancements to meet client needs; (iv) launching new share classes of existing funds; (v) eliminating purchase minimums and broadening eligibility requirements for certain funds and share classes; (vi) approving the reduction in the holding period for the Class C to Class A conversion policy; (vii) reducing management fees and total expenses for certain target date funds and classes and index funds; (viii) lowering expenses for certain existing funds and classes by implementing or lowering expense caps; (ix) rationalizing product lines and gaining increased efficiencies from fund mergers, liquidations, and share class consolidations; (x) continuing to develop, acquire and implement systems and technology to improve services to the funds and shareholders, strengthen information security, and increase efficiency; and (xi) continuing to implement enhancements to further strengthen Fidelity's product line to increase investors' probability of success in achieving their investment goals, including retirement income goals.

The Board took into account discussions that occur at Board meetings throughout the year with representatives of the Investment Advisers about fund investment performance. In this regard the Board noted that as part of regularly scheduled fund reviews and other reports to the Board on fund performance, the Board considers annualized return information for the fund for different time periods, measured against an appropriate securities market index (benchmark index) and an appropriate peer group of funds with similar objectives (peer group). In its evaluation of fund investment performance, the Board gave particular attention to information indicating changes in performance of certain Fidelity funds for specific time periods and discussed with the Investment Advisers the reasons for any overperformance or underperformance.

In addition to reviewing absolute and relative fund performance, the Independent Trustees periodically consider the appropriateness of fund performance metrics in evaluating the results achieved. In general, the Independent Trustees believe that fund performance should be evaluated based on net performance (after fees and expenses) of both the highest performing and lowest performing fund share classes, where applicable, compared to appropriate benchmark indices, over appropriate time periods that may include full market cycles, and compared to peer groups, as applicable, over the same periods, taking into account relevant factors including the following: general market conditions; issuer-specific information; and fund cash flows and other factors.

The Independent Trustees recognize that shareholders evaluate performance on a net basis over their own holding periods, for which one-, three-, and five-year periods are often used as a proxy. For this reason, the performance information reviewed by the Board also included net cumulative total return information for the fund and an appropriate benchmark index and peer group for the most recent one-, three-, and five-year periods ended September 30, 2020, as shown below. Returns are shown compared to the 25th percentile (top of box, 75% beaten) and 75th percentile (bottom of box, 25% beaten) of the peer universe. Returns of the benchmark index are "net MA," i.e., adjusted for tax withholding rates applicable to U.S.-based funds organized as Massachusetts business trusts.

Fidelity Advisor Diversified International Fund

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

Competitiveness of Management Fee and Total Expense Ratio. The Board considered the fund's management fee and total expense ratio compared to "mapped groups" of competitive funds and classes created for the purpose of facilitating the Trustees' competitive analysis of management fees and total expenses. Fidelity creates "mapped groups" by combining similar Lipper investment objective categories that have comparable investment mandates. Combining Lipper investment objective categories aids the Board's management fee and total expense ratio comparisons by broadening the competitive group used for comparison.

Management Fee. The Board considered two proprietary management fee comparisons for the 12-month periods ended September 30 (June 30 for periods ended 2019 and 2018 and December 31 for periods prior to 2018) shown in basis points (BP) in the chart below. The group of Lipper funds used by the Board for management fee comparisons is referred to below as the "Total Mapped Group." The Total Mapped Group comparison focuses on a fund's standing in terms of gross management fees before expense reimbursements or caps relative to the total universe of funds with comparable investment mandates, regardless of whether their management fee structures also are comparable. Funds with comparable investment mandates offer exposure to similar types of securities. Funds with comparable management fee structures have similar management fee contractual arrangements (e.g., flat rate charged for advisory services, all-inclusive fee rate, etc.). "TMG %" represents the percentage of funds in the Total Mapped Group that had management fees that were lower than the fund's. For example, a hypothetical TMG % of 20% would mean that 80% of the funds in the Total Mapped Group had higher, and 20% had lower, management fees than the fund. The fund's actual TMG %s and the number of funds in the Total Mapped Group are in the chart below. The "Asset-Sized Peer Group" (ASPG) comparison focuses on a fund's standing relative to a subset of non-Fidelity funds within the Total Mapped Group that are similar in size and management fee structure. For example, if a fund is in the first quartile of the ASPG, the fund's management fee ranks in the least expensive or lowest 25% of funds in the ASPG. The ASPG represents at least 15% of the funds in the Total Mapped Group with comparable asset size and management fee structures, subject to a minimum of 50 funds (or all funds in the Total Mapped Group if fewer than 50). Additional information, such as the ASPG quartile in which the fund's management fee rate ranked, is also included in the chart and was considered by the Board.

Fidelity Advisor Diversified International Fund

The Board noted that the fund's management fee rate ranked below the median of its Total Mapped Group and below the median of its ASPG for the 12-month period ended September 30, 2020.

The Board noted that, in the past, it and the boards of other Fidelity funds had formed an ad hoc Committee on Group Fee to conduct an in-depth review of the "group fee" component of the management fee of funds with such management fee structures. The Committee's focus included the mechanics of the group fee, the competitive landscape of group fee structures, Fidelity funds with no group fee component and investment products not included in group fee assets. The Board also considered that, for funds subject to the group fee, FMR agreed to voluntarily waive fees over a specified period of time in amounts designed to account for assets converted from certain funds to certain collective investment trusts.

The Board also noted that, in 2013, the ad hoc Committee on Management Fees was formed to conduct an in-depth review of the management fee rates of Fidelity's active equity mutual funds. The Committee focused on the following areas: (i) standard fee structures; (ii) research consumption and trading evolution; (iii) management fee competitiveness/profitability by category; and (iv) factors that drive institutional pricing.

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

Total Expense Ratio. In its review of each class's total expense ratio, the Board considered the fund's management fee rate as well as other fund or class expenses, as applicable, such as transfer agent fees, pricing and bookkeeping fees, fund-paid 12b-1 fees, and custodial, legal, and audit fees. The Board also noted that Fidelity may agree to waive fees or reimburse expenses from time to time, and the extent to which, if any, it has done so for the fund. As part of its review, the Board also considered the current and historical total expense ratios of a representative class of the fund compared to competitive fund median expenses. The fund's representative class is compared to those funds and classes in the Total Mapped Group (used by the Board for management fee comparisons) that have a similar sales load structure (SLTG). The Board also considered a total expense ASPG comparison for the representative class, which focuses on the total expenses of the representative class relative to a subset of non-Fidelity funds within the total expense SLTG. The total expense ASPG is limited to 15 larger and 15 smaller classes in fund average assets for a total of 30 classes, where possible. The total expense ASPG comparison excludes performance adjustments and fund-paid 12b-1 fees to eliminate variability in fee structures.

The Board noted that the total expense ratio of Class I ranked equal to the SLTG competitive median and below the ASPG competitive median for the 12-month period ended September 30, 2020.

Fees Charged to Other Fidelity Clients. The Board also considered Fidelity fee structures and other information with respect to clients of Fidelity, such as other funds advised or subadvised by Fidelity, pension plan clients, and other institutional clients with similar mandates. The Board noted that a joint ad hoc committee created by it and the boards of other Fidelity funds periodically reviews and compares Fidelity's institutional investment advisory business with its business of providing services to the Fidelity funds and also noted the most recent findings of the committee. The Board noted that the committee's review included a consideration of the differences in services provided, fees charged, and costs incurred, as well as competition in the markets serving the different categories of clients.

Based on its review of total expense ratios and fees charged to other Fidelity clients, the Board concluded that the total expense ratio of each class of the fund was reasonable in light of the services that the fund and its shareholders receive and the other factors considered.

Costs of the Services and Profitability. The Board considered the revenues earned and the expenses incurred by Fidelity in conducting the business of developing, marketing, distributing, managing, administering and servicing the fund and servicing the fund's shareholders. The Board also considered the level of Fidelity's profits in respect of all the Fidelity funds.

On an annual basis, Fidelity presents to the Board information about the profitability of its relationships with the fund. Fidelity calculates profitability information for each fund, as well as aggregate profitability information for groups of Fidelity funds and all Fidelity funds, using a series of detailed revenue and cost allocation methodologies which originate with the books and records of Fidelity on which Fidelity's audited financial statements are based. The Audit Committee of the Board reviews any significant changes from the prior year's methodologies and the full Board approves such changes.

A public accounting firm has been engaged annually by the Board as part of the Board's assessment of Fidelity's profitability analysis. The engagement includes the review and assessment of the methodologies used by Fidelity in determining the revenues and expenses attributable to Fidelity's mutual fund business, and completion of agreed-upon procedures in respect of the mathematical accuracy of certain fund profitability information and its conformity to established allocation methodologies. After considering the reports issued under the engagement and information provided by Fidelity, the Board concluded that while other allocation methods may also be reasonable, Fidelity's profitability methodologies are reasonable in all material respects.

The Board also reviewed Fidelity's non-fund businesses and potential indirect benefits such businesses may have received as a result of their association with Fidelity's mutual fund business (i.e., fall-out benefits) as well as cases where Fidelity's affiliates may benefit from the funds' business. The Board considered areas where potential indirect benefits to the Fidelity funds from their relationships with Fidelity may exist. The Board also considered that in 2019 a joint ad hoc committee created by it and the boards of other Fidelity funds evaluated potential fall-out benefits (PFOB Committee). The Board noted that it considered the PFOB Committee's findings in connection with its consideration of the renewal of the Advisory Contracts.

The Board considered the costs of the services provided by and the profits realized by Fidelity in connection with the operation of the fund, including the conclusions of the PFOB Committee, and was satisfied that the profitability was not excessive.

Economies of Scale. The Board considered whether there have been economies of scale in respect of the management of the Fidelity funds, whether the Fidelity funds (including the fund) have appropriately benefited from any such economies of scale, and whether there is potential for realization of any further economies of scale. The Board considered the extent to which the fund will benefit from economies of scale as assets grow through increased services to the fund, through waivers or reimbursements, or through fee or expense ratio reductions. The Board also noted that a committee (the Economies of Scale Committee) created by it and the boards of other Fidelity funds periodically analyzes whether Fidelity attains economies of scale in respect of the management and servicing of the Fidelity funds, whether the Fidelity funds have appropriately benefited from such economies of scale, and whether there is potential for realization of any further economies of scale.

The Board recognized that the fund's management contract incorporates a "group fee" structure, which provides for lower group fee rates as total "group assets" increase, and for higher group fee rates as total "group assets" decrease ("group assets" as defined in the management contract). FMR calculates the group fee rates based on a tiered asset "breakpoint" schedule that varies based on asset class. The Board considered that the group fee is designed to deliver the benefits of economies of scale to fund shareholders when total Fidelity fund assets increase, even if assets of any particular fund are unchanged or have declined, because some portion of Fidelity's costs are attributable to services provided to all Fidelity funds, and all funds benefit if those costs can be allocated among more assets. The Board further considered that Fidelity agreed to impose a temporary fee waiver in the form of additional breakpoints to the current breakpoint schedule. The Board concluded that, given the group fee structure, fund shareholders will benefit from lower management fees as "group assets" increase at the fund complex level, regardless of whether Fidelity achieves any such economies of scale.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Additional Information Requested by the Board. In order to develop fully the factual basis for consideration of the Fidelity funds' advisory contracts, the Board requested and received additional information on certain topics, including: (i) fund flow and performance trends, in particular the underperformance of certain funds and strategies, and Fidelity's long-term strategies for certain funds; (ii) consideration of expanding the use of performance fees for additional funds; (iii) Fidelity's pricing philosophy compared to competitors; (iv) metrics for evaluating index fund and ETF performance and information about ETF trading characteristics; (v) the methodology with respect to evaluating competitive fund data and peer group classifications and fee and expense comparisons; (vi) the expense structures for different funds and classes and information about the differences between various expense structures; (vii) group fee breakpoints; (viii) information regarding other accounts managed by Fidelity and sub-advisory arrangements; and (ix) Fidelity's philosophies and strategies for evaluating funds and classes with lower or declining asset levels.

Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board concluded that the advisory fee arrangements are fair and reasonable, and that the fund's Advisory Contracts should be renewed.

Fidelity Investments

ADIF-ANN-1221
1.728709.122

Fidelity Advisor® Emerging Asia Fund

Annual Report

October 31, 2021

Contents

Note to Shareholders
Performance
Management's Discussion of Fund Performance
Investment Summary
Schedule of Investments
Financial Statements
Notes to Financial Statements
Report of Independent Registered Public Accounting Firm
Trustees and Officers
Shareholder Expense Example
Distributions
Board Approval of Investment Advisory Contracts and Management Fees

You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Note to Shareholders:

Performance: The Bottom Line

Average Annual Total Returns

For the periods ended October 31, 2021	Past 1 year	Past 5 years	Past 10 years
Class A (incl. 5.75% sales charge)	10.70%	18.68%	11.70%
Class M (incl. 3.50% sales charge)	13.08%	18.91%	11.64%
Class C (incl. contingent deferred sales charge)	15.58%	19.20%	11.70%
Class I	17.77%	20.43%	12.69%
Class Z	17.92%	20.54%	12.74%

Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.

The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018, are those of Class I.

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Emerging Asia Fund - Class A on October 31, 2011, and the current 5.75% sales charge was paid.

The chart shows how the value of your investment would have changed, and also shows how the MSCI AC (All Country) Asia ex Japan Index performed over the same period.

	Period Ending Values
	$30,238	Fidelity Advisor® Emerging Asia Fund - Class A
	$20,483	MSCI AC (All Country) Asia ex Japan Index

Management's Discussion of Fund Performance

Comments from Portfolio Manager Xiaoting Zhao: For the fiscal year ending October 31, 2021, the fund's share classes (excluding sales charges, if applicable) gained roughly 17% to 18%, outpacing the 12.82% result of the benchmark, the MSCI AC Asia Ex Japan (Net MA) Linked Index. Stock picks in emerging markets, especially China, and a non-benchmark allocation to the U.S. contributed to the fund's relative result. Security selection added value overall, especially in the media & entertainment area of the communication services sector. An overweighting and stock picking in information technology also helped. Elsewhere, stock selection in health care, especially within the pharmaceuticals, biotechnology & life sciences industry, contributed. Looking at individual stocks, an overweighted position in Bilibili (+66%) added more value than any other fund holding. It also helped to overweight Reliance Industries, which gained about 22%. Elsewhere, an outsized stake in Sungrow Power Supply (+336%) added meaningful value. Conversely, an underweighting in emerging markets, notably Taiwan, detracted from the fund’s return versus the benchmark. By sector and industry, underweighting banks and materials companies hampered the fund's relative result, as did choices in consumer staples. Among individual stocks, overweighting internet retailer Alibaba Group Holding (-44%) detracted notably. Owning Base (-61%), a Japan-based company that offers internet-based services for developing and building e-commerce platforms, hurt as well. We increased the fund’s non-benchmark position in Base during the period. Notable changes in fund positioning the past 12 months included increased exposure to health care and a lower allocation to financials.

Investment Summary (Unaudited)

Top Ten Stocks as of October 31, 2021

	% of fund's net assets
Taiwan Semiconductor Manufacturing Co. Ltd.	7.5
Reliance Industries Ltd.	6.3
Alibaba Group Holding Ltd. sponsored ADR	5.1
Meituan Class B	4.1
Bilibili, Inc. ADR	3.6
Alibaba Group Holding Ltd.	3.0
Samsung Electronics Co. Ltd.	3.0
Pinduoduo, Inc. ADR	2.7
Tencent Holdings Ltd.	2.6
Sea Ltd. ADR	2.3
	40.2

Top Five Market Sectors as of October 31, 2021

	% of fund's net assets
Information Technology	26.3
Consumer Discretionary	23.7
Communication Services	15.5
Health Care	12.8
Energy	6.4

Asset Allocation (% of fund's net assets)

As of October 31, 2021
	Stocks	99.5%
	Short-Term Investments and Net Other Assets (Liabilities)	0.5%

Schedule of Investments October 31, 2021

Showing Percentage of Net Assets

Common Stocks - 98.6%
	Shares	Value
Bermuda - 0.7%
Alibaba Health Information Technology Ltd. (a)	3,521,523	$4,449,145
Huanxi Media Group Ltd. (a)	14,636,996	2,784,237

TOTAL BERMUDA		7,233,382

Cayman Islands - 35.8%
Akeso, Inc. (a)(b)	920,989	5,160,995
Alchip Technologies Ltd.	81,000	2,996,229
Alibaba Group Holding Ltd. (a)	1,607,229	33,048,900
Alibaba Group Holding Ltd. sponsored ADR (a)	338,549	55,840,272
Antengene Corp. (b)	2,125,317	2,819,005
Archosaur Games, Inc. (b)(c)	2,683,699	3,214,713
Bairong, Inc. (a)(b)	1,152,668	1,825,187
BC Technology Group Ltd. (a)	2,018,162	3,548,417
Bilibili, Inc. ADR (a)(c)	540,813	39,641,593
Boqii Holding Ltd. ADR (a)(c)	451,641	916,831
Frontage Holdings Corp. (a)(b)	7,198,455	4,209,623
GDS Holdings Ltd. ADR (a)	38,200	2,269,080
Innovent Biologics, Inc. (a)(b)	498,123	4,468,734
iQIYI, Inc. ADR (a)(c)	506,632	4,194,913
Jacobio Pharmaceuticals Group Co. Ltd. (b)	747,000	1,699,364
Kangji Medical Holdings Ltd. (c)	875,942	994,097
KE Holdings, Inc. ADR (a)	575,853	10,492,042
Kuaishou Technology Class B (b)	816,316	10,859,033
Li Auto, Inc. Class A (a)	376,384	6,346,839
Medlive Technology Co. Ltd. (b)	993,665	5,165,960
Medlive Technology Co. Ltd.	106,500	525,998
Meituan Class B (a)(b)	1,320,921	44,949,147
Microport Cardioflow Medtech Corp. (b)	6,491,565	4,530,454
Ming Yuan Cloud Group Holdings Ltd.	1,811,380	5,936,661
New Horizon Health Ltd. (b)(c)	1,040,065	3,783,027
Pinduoduo, Inc. ADR (a)	337,639	30,022,860
Pop Mart International Group Ltd. (b)	1,077,223	6,361,853
RLX Technology, Inc. ADR (c)	424,081	2,061,034
Sea Ltd. ADR (a)	73,470	25,242,088
Shimao Property Holdings Ltd.	2,994,383	4,710,655
Smoore International Holdings Ltd. (b)	1,091,229	5,231,392
Sunac China Holdings Ltd.	1,647,343	3,548,547
Tencent Holdings Ltd.	463,684	28,205,802
Wuxi Biologics (Cayman), Inc. (a)(b)	963,997	14,601,630
Yatsen Holding Ltd. ADR (c)	968,494	2,711,783
Zai Lab Ltd. (a)	29,355	3,045,318
Zai Lab Ltd. ADR (a)	66,336	6,925,478

TOTAL CAYMAN ISLANDS		392,105,554

China - 18.3%
Anhui Korrun Co. Ltd. (A Shares)	921,206	3,196,879
Beijing Enlight Media Co. Ltd. (A Shares)	8,543,438	12,483,562
Beijing Shiji Information Technology Co. Ltd. (A Shares)	5,725,874	21,166,717
Beijing Sinohytec Co. Ltd. (A Shares) (a)	194,500	7,499,746
DBAPPSecurity Ltd. (A Shares)	42,100	1,926,252
Estun Automation Co. Ltd.:
(A Shares)	1,515,600	6,258,068
(A Shares)	1,891,700	7,811,024
Great Wall Motor Co. Ltd. (H Shares)	488,312	2,202,911
Guangzhou GRG Metrology & Test Co. Ltd. (A Shares) (a)	725,469	2,912,862
Guangzhou Kingmed Diagnostics Group Co. Ltd. (A Shares)	347,200	6,205,507
Hangzhou Tigermed Consulting Co. Ltd. (A Shares)	341,508	9,084,489
Hundsun Technologies, Inc. (A Shares)	520,500	5,119,073
Jiangsu Hengrui Medicine Co. Ltd. (A Shares)	818,400	6,290,913
Joinn Laboratories China Co. Ltd. (A Shares)	406,621	10,156,400
LONGi Green Energy Technology Co. Ltd.	877,920	13,388,597
MicroTech Medical (Hangzhou) Co. Ltd. (H Shares) (a)(b)	810,700	3,177,990
Milkyway Chemical Supply Chain Service Co. Ltd. (A Shares)	224,367	3,841,638
Pharmaron Beijing Co. Ltd. (A Shares)	352,799	10,538,671
Shanghai Milkground Food Tech Co. Ltd. (A Shares) (a)	617,300	4,807,727
Shenzhen Inovance Technology Co. Ltd. (A Shares)	800,126	8,147,714
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)	141,306	8,296,261
Shenzhen Transsion Holdings Co. Ltd. (A Shares)	139,000	3,428,265
Sungrow Power Supply Co. Ltd. (A Shares)	513,200	13,146,957
Venus MedTech Hangzhou, Inc. (H Shares) (a)(b)(c)	1,220,719	5,656,053
Weihai Guangwei Composites Co. Ltd. (A Shares)	492,028	5,214,656
WuXi AppTec Co. Ltd. (H Shares) (b)	615,309	13,151,582
Zhejiang Huace Film & Television Co. Ltd. (A Shares)	6,752,300	5,945,123

TOTAL CHINA		201,055,637

Germany - 0.9%
Delivery Hero AG (a)(b)	79,310	9,860,438
Hong Kong - 0.6%
Hong Kong Exchanges and Clearing Ltd.	102,683	6,213,374
India - 14.1%
Amber Enterprises India Ltd. (a)	63,100	2,782,907
Asian Paints Ltd.	92,906	3,842,544
Aster DM Healthcare Ltd. (a)(b)	473,226	1,185,669
Bajaj Finance Ltd.	3	296
Computer Age Management Services Private Ltd.	317,925	12,775,957
Devyani International Ltd.	1,337,361	2,189,236
Dixon Technologies India Ltd.	114,821	7,649,448
HDFC Asset Management Co. Ltd. (b)	233,664	8,252,356
HDFC Bank Ltd.	598,822	12,672,869
HDFC Bank Ltd. sponsored ADR	28,921	2,079,709
Hindustan Aeronautics Ltd.	261,100	4,551,441
Indian Energy Exchange Ltd. (b)	583,675	5,515,536
Kotak Mahindra Bank Ltd. (a)	174,579	4,730,787
Page Industries Ltd.	9,037	4,537,616
Reliance Industries Ltd.	44,766	1,136,216
Reliance Industries Ltd.	2,045,696	69,220,152
Tata Motors Ltd. (a)	543,600	3,493,546
Vijaya Diagnostic Centre Pvt Ltd.	58,123	437,735
Voltas Ltd.	441,947	7,102,225
Zomato Ltd. (a)	151,220	265,399

TOTAL INDIA		154,421,644

Indonesia - 0.3%
PT Bank Central Asia Tbk	5,857,535	3,090,529
Japan - 7.3%
BASE, Inc. (a)(c)	842,178	6,881,932
Demae-Can Co. Ltd. (a)(c)	504,659	6,003,631
Freee KK (a)	141,390	10,148,392
Hennge K.K. (a)(c)	214,091	10,587,644
Lifenet Insurance Co. (a)	273,911	2,728,596
Money Forward, Inc. (a)	220,930	15,012,830
SHIFT, Inc. (a)	27,000	6,226,719
Uzabase, Inc. (a)	272,639	4,885,445
Z Holdings Corp.	2,865,213	17,787,303

TOTAL JAPAN		80,262,492

Korea (South) - 3.5%
ILJIN Hysolus Co. Ltd. (a)	2,200	134,269
Kakao Corp.	48,629	5,204,910
Kakao Pay Corp. (a)	4,300	329,482
Samsung Electronics Co. Ltd.	547,808	32,630,877

TOTAL KOREA (SOUTH)		38,299,538

Mauritius - 1.2%
MakeMyTrip Ltd. (a)(c)	428,326	13,565,084
Netherlands - 2.4%
ASML Holding NV (Netherlands)	8,450	6,869,007
NXP Semiconductors NV	26,200	5,262,532
Shop Apotheke Europe NV (a)(b)	38,967	5,901,007
Yandex NV Series A (a)	96,868	8,024,545

TOTAL NETHERLANDS		26,057,091

Poland - 0.6%
CD Projekt RED SA (c)	150,656	6,566,006
Switzerland - 0.6%
Dufry AG (a)	122,160	6,467,919
Taiwan - 8.1%
eMemory Technology, Inc.	64,000	5,286,407
Taiwan Semiconductor Manufacturing Co. Ltd.	3,885,393	82,341,160
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	9,200	1,046,040

TOTAL TAIWAN		88,673,607

United Kingdom - 1.1%
Espressif Systems (Shanghai) Co. Ltd. ELS (UBS AG London Branch Bank Warrant Programme) Class A warrants 9/6/22 (a)(b)	180,100	4,602,486
Yunnan Botanee Bio-Technology Group Co. Ltd. ELS (UBS AG London Branch Bank Warrant Programme) Class A warrants 3/23/23 (a)(b)	113,300	4,014,825
ZWSOFT Co. Ltd. (Guangzhou) (UBS AG London Branch Bank Warrant Programme) Class A warrants 10/12/23 (a)	71,900	3,334,288

TOTAL UNITED KINGDOM		11,951,599

United States of America - 2.9%
AiHuiShou International Co. Ltd. ADR (c)	114,319	900,834
Array Technologies, Inc.	178,500	3,810,975
Li Auto, Inc. ADR (a)	125,420	4,092,455
New Frontier Health Corp. (a)(c)	232,889	2,620,001
NVIDIA Corp.	36,668	9,374,908
ON Semiconductor Corp. (a)	205,677	9,886,893
Smart Share Global Ltd. ADR (a)(c)	387,300	1,099,932
Space Exploration Technologies Corp. Class A (a)(d)(e)	600	251,994

TOTAL UNITED STATES OF AMERICA		32,037,992

Vietnam - 0.2%
Vietnam Dairy Products Corp.	428,640	1,708,795
TOTAL COMMON STOCKS
(Cost $902,014,331)		1,079,570,681

Preferred Stocks - 0.9%
Convertible Preferred Stocks - 0.2%
China - 0.2%
ByteDance Ltd. Series E1 (d)(e)	11,980	1,489,354
dMed Biopharmaceutical Co. Ltd. Series C (d)(e)	65,318	903,348
		2,392,702
Nonconvertible Preferred Stocks - 0.7%
Korea (South) - 0.7%
Samsung Electronics Co. Ltd.	144,786	7,913,202
TOTAL PREFERRED STOCKS
(Cost $7,244,305)		10,305,904

Money Market Funds - 6.8%
Fidelity Cash Central Fund 0.06% (f)	7,014,175	7,015,578
Fidelity Securities Lending Cash Central Fund 0.06% (f)(g)	67,858,144	67,864,930
TOTAL MONEY MARKET FUNDS
(Cost $74,880,508)		74,880,508
TOTAL INVESTMENT IN SECURITIES - 106.3%
(Cost $984,139,144)		1,164,757,093
NET OTHER ASSETS (LIABILITIES) - (6.3)%		(69,331,873)
NET ASSETS - 100%		$1,095,425,220

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

(a) Non-income producing

(d) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $2,644,696 or 0.2% of net assets.

(e) Level 3 security

(g) Investment made with cash collateral received from securities on loan.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
ByteDance Ltd. Series E1	11/18/20	$1,312,699
dMed Biopharmaceutical Co. Ltd. Series C	12/1/20	$927,721
Space Exploration Technologies Corp. Class A	2/16/21	$251,994

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Fund	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Realized Gain/Loss	Change in Unrealized appreciation (depreciation)	Value, end of period	% ownership, end of period
Fidelity Cash Central Fund 0.06%	$20,950,560	$607,862,038	$621,797,310	$15,894	$290	$--	$7,015,578	0.0%
Fidelity Securities Lending Cash Central Fund 0.06%	45,977,284	657,285,797	635,398,151	867,892	--	--	67,864,930	0.2%
Total	$66,927,844	$1,265,147,835	$1,257,195,461	$883,786	$290	$--	$74,880,508

Investment Valuation

	Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Communication Services	$170,153,828	$118,955,813	$51,198,015	$--
Consumer Discretionary	259,329,959	165,232,547	94,097,412	--
Consumer Staples	20,535,556	16,520,731	4,014,825	--
Energy	70,356,368	70,356,368	--	--
Financials	55,543,101	35,256,191	20,286,910	--
Health Care	140,083,447	121,007,153	18,172,946	903,348
Industrials	57,834,898	57,582,904	--	251,994
Information Technology	288,230,984	99,863,611	186,878,019	1,489,354
Materials	9,057,200	9,057,200	--	--
Real Estate	18,751,244	18,751,244	--	--
Money Market Funds	74,880,508	74,880,508	--	--
Total Investments in Securities:	$1,164,757,093	$787,464,270	$374,648,127	$2,644,696

See accompanying notes which are an integral part of the financial statements.

Financial Statements

Statement of Assets and Liabilities

		October 31, 2021
Assets
Investment in securities, at value (including securities loaned of $63,200,413) — See accompanying schedule: Unaffiliated issuers (cost $909,258,636)	$1,089,876,585
Fidelity Central Funds (cost $74,880,508)	74,880,508
Total Investment in Securities (cost $984,139,144)		$1,164,757,093
Foreign currency held at value (cost $115,299)		115,424
Receivable for investments sold		6,102,442
Receivable for fund shares sold		994,573
Dividends receivable		236,369
Distributions receivable from Fidelity Central Funds		33,671
Prepaid expenses		1,915
Other receivables		683,607
Total assets		1,172,925,094
Liabilities
Payable for fund shares redeemed	$1,460,973
Accrued management fee	630,578
Distribution and service plan fees payable	105,429
Deferred foreign taxes	6,562,000
Other affiliated payables	180,717
Other payables and accrued expenses	699,786
Collateral on securities loaned	67,860,391
Total liabilities		77,499,874
Net Assets		$1,095,425,220
Net Assets consist of:
Paid in capital		$819,760,896
Total accumulated earnings (loss)		275,664,324
Net Assets		$1,095,425,220
Net Asset Value and Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($271,275,059 ÷ 4,390,722 shares)^(a)		$61.78
Maximum offering price per share (100/94.25 of $61.78)		$65.55
Class M:
Net Asset Value and redemption price per share ($60,893,103 ÷ 1,021,717 shares)^(a)		$59.60
Maximum offering price per share (100/96.50 of $59.60)		$61.76
Class C:
Net Asset Value and offering price per share ($26,376,533 ÷ 484,385 shares)^(a)		$54.45
Class I:
Net Asset Value, offering price and redemption price per share ($472,553,387 ÷ 7,368,489 shares)		$64.13
Class Z:
Net Asset Value, offering price and redemption price per share ($264,327,138 ÷ 4,123,635 shares)		$64.10

(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Statement of Operations

		Year ended October 31, 2021
Investment Income
Dividends		$6,815,935
Special dividends		1,197,905
Income from Fidelity Central Funds (including $867,892 from security lending)		883,786
Income before foreign taxes withheld		8,897,626
Less foreign taxes withheld		(1,343,261)
Total income		7,554,365
Expenses
Management fee	$8,724,636
Transfer agent fees	1,973,653
Distribution and service plan fees	1,427,648
Accounting fees	587,254
Custodian fees and expenses	308,042
Independent trustees' fees and expenses	4,782
Registration fees	168,098
Audit	107,246
Legal	1,545
Interest	5,581
Miscellaneous	4,569
Total expenses before reductions	13,313,054
Expense reductions	(19,916)
Total expenses after reductions		13,293,138
Net investment income (loss)		(5,738,773)
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers (net of foreign taxes of $5,196,310)	150,953,616
Fidelity Central Funds	290
Foreign currency transactions	(600,153)
Total net realized gain (loss)		150,353,753
Change in net unrealized appreciation (depreciation) on:
Investment securities:
Unaffiliated issuers (net of increase in deferred foreign taxes of $4,820,493)	(40,353,625)
Assets and liabilities in foreign currencies	(8,566)
Total change in net unrealized appreciation (depreciation)		(40,362,191)
Net gain (loss)		109,991,562
Net increase (decrease) in net assets resulting from operations		$104,252,789

See accompanying notes which are an integral part of the financial statements.

Statement of Changes in Net Assets

	Year ended October 31, 2021	Year ended October 31, 2020
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$(5,738,773)	$(1,505,062)
Net realized gain (loss)	150,353,753	75,588,052
Change in net unrealized appreciation (depreciation)	(40,362,191)	131,063,657
Net increase (decrease) in net assets resulting from operations	104,252,789	205,146,647
Distributions to shareholders	(67,519,322)	(17,760,369)
Share transactions - net increase (decrease)	249,334,845	293,087,514
Total increase (decrease) in net assets	286,068,312	480,473,792
Net Assets
Beginning of period	809,356,908	328,883,116
End of period	$1,095,425,220	$809,356,908

See accompanying notes which are an integral part of the financial statements.

Financial Highlights

Fidelity Advisor Emerging Asia Fund Class A

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$56.33	$39.85	$33.52	$39.98	$30.26
Income from Investment Operations
Net investment income (loss)^A	(.40)^B	(.18)	.23	.25	.27
Net realized and unrealized gain (loss)	10.17	18.77	8.23	(6.48)	9.75
Total from investment operations	9.77	18.59	8.46	(6.23)	10.02
Distributions from net investment income	–	(.13)^C	(.19)	(.22)	(.24)
Distributions from net realized gain	(4.32)	(1.99)^C	(1.93)	(.01)	(.07)
Total distributions	(4.32)	(2.11)^D	(2.13)^D	(.23)	(.31)
Redemption fees added to paid in capital^A	–	–	–	–^E	.01
Net asset value, end of period	$61.78	$56.33	$39.85	$33.52	$39.98
Total Return^F,^G	17.45%	49.18%	26.60%	(15.67)%	33.54%
Ratios to Average Net Assets^H,^I
Expenses before reductions	1.20%	1.26%	1.32%	1.32%	1.38%
Expenses net of fee waivers, if any	1.20%	1.26%	1.32%	1.32%	1.37%
Expenses net of all reductions	1.20%	1.23%	1.31%	1.30%	1.36%
Net investment income (loss)	(.61)%^B	(.40)%	.62%	.62%	.80%
Supplemental Data
Net assets, end of period (000 omitted)	$271,275	$208,546	$144,577	$106,775	$137,165
Portfolio turnover rate^J	79%	110%	69%^K	34%	43%

^A Calculated based on average shares outstanding during the period.

^B Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.06 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.71) %.

^C The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^D Total distributions per share do not sum due to rounding.

^E Amount represents less than $.005 per share.

^F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^G Total returns do not include the effect of the sales charges.

^H Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

^I Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

^J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^K Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Emerging Asia Fund Class M

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$54.51	$38.61	$32.50	$38.80	$29.39
Income from Investment Operations
Net investment income (loss)^A	(.55)^B	(.29)	.12	.13	.16
Net realized and unrealized gain (loss)	9.87	18.19	7.98	(6.29)	9.49
Total from investment operations	9.32	17.90	8.10	(6.16)	9.65
Distributions from net investment income	–	(.01)^C	(.05)	(.13)	(.18)
Distributions from net realized gain	(4.23)	(1.99)^C	(1.93)	(.01)	(.07)
Total distributions	(4.23)	(2.00)	(1.99)^D	(.14)	(.25)
Redemption fees added to paid in capital^A	–	–	–	–^E	.01
Net asset value, end of period	$59.60	$54.51	$38.61	$32.50	$38.80
Total Return^F,^G	17.18%	48.78%	26.21%	(15.93)%	33.16%
Ratios to Average Net Assets^H,^I
Expenses before reductions	1.45%	1.54%	1.61%	1.61%	1.68%
Expenses net of fee waivers, if any	1.45%	1.53%	1.61%	1.61%	1.68%
Expenses net of all reductions	1.45%	1.51%	1.60%	1.59%	1.66%
Net investment income (loss)	(.87)%^B	(.68)%	.32%	.33%	.50%
Supplemental Data
Net assets, end of period (000 omitted)	$60,893	$54,436	$39,197	$33,478	$44,730
Portfolio turnover rate^J	79%	110%	69%^K	34%	43%

^A Calculated based on average shares outstanding during the period.

^C The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^D Total distributions per share do not sum due to rounding.

^E Amount represents less than $.005 per share.

^F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^G Total returns do not include the effect of the sales charges.

^J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^K Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Emerging Asia Fund Class C

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$50.22	$35.77	$30.32	$36.29	$27.52
Income from Investment Operations
Net investment income (loss)^A	(.80)^B	(.47)	(.04)	(.04)	.02
Net realized and unrealized gain (loss)	9.10	16.79	7.42	(5.86)	8.89
Total from investment operations	8.30	16.32	7.38	(5.90)	8.91
Distributions from net investment income	–	–	–	(.05)	(.08)
Distributions from net realized gain	(4.07)	(1.87)	(1.93)	(.01)	(.07)
Total distributions	(4.07)	(1.87)	(1.93)	(.07)^C	(.14)^C
Redemption fees added to paid in capital^A	–	–	–	–^D	–^D
Net asset value, end of period	$54.45	$50.22	$35.77	$30.32	$36.29
Total Return^E,^F	16.58%	48.03%	25.67%	(16.30)%	32.58%
Ratios to Average Net Assets^G,^H
Expenses before reductions	1.96%	2.03%	2.08%	2.06%	2.11%
Expenses net of fee waivers, if any	1.96%	2.02%	2.07%	2.05%	2.11%
Expenses net of all reductions	1.96%	1.99%	2.06%	2.04%	2.09%
Net investment income (loss)	(1.37)%^B	(1.17)%	(.14)%	(.11)%	.07%
Supplemental Data
Net assets, end of period (000 omitted)	$26,377	$28,233	$23,584	$48,507	$60,852
Portfolio turnover rate^I	79%	110%	69%^J	34%	43%

^A Calculated based on average shares outstanding during the period.

^B Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.05 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (1.47) %.

^C Total distributions per share do not sum due to rounding.

^D Amount represents less than $.005 per share.

^E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^F Total returns do not include the effect of the contingent deferred sales charge.

^I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^J Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Emerging Asia Fund Class I

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$58.29	$41.16	$34.60	$41.27	$31.19
Income from Investment Operations
Net investment income (loss)^A	(.24)^B	(.07)	.34	.37	.38
Net realized and unrealized gain (loss)	10.53	19.42	8.48	(6.68)	10.06
Total from investment operations	10.29	19.35	8.82	(6.31)	10.44
Distributions from net investment income	–	(.23)^C	(.33)	(.34)	(.31)
Distributions from net realized gain	(4.45)	(1.99)^C	(1.93)	(.01)	(.07)
Total distributions	(4.45)	(2.22)	(2.26)	(.36)^D	(.37)^D
Redemption fees added to paid in capital^A	–	–	–	–^E	.01
Net asset value, end of period	$64.13	$58.29	$41.16	$34.60	$41.27
Total Return^F	17.77%	49.59%	26.93%	(15.43)%	33.97%
Ratios to Average Net Assets^G,^H
Expenses before reductions	.94%	1.00%	1.04%	1.03%	1.08%
Expenses net of fee waivers, if any	.94%	1.00%	1.03%	1.03%	1.07%
Expenses net of all reductions	.94%	.97%	1.03%	1.02%	1.06%
Net investment income (loss)	(.36)%^B	(.14)%	.90%	.91%	1.10%
Supplemental Data
Net assets, end of period (000 omitted)	$472,553	$414,664	$76,981	$59,527	$66,818
Portfolio turnover rate^I	79%	110%	69%^J	34%	43%

^A Calculated based on average shares outstanding during the period.

^C The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^D Total distributions per share do not sum due to rounding.

^E Amount represents less than $.005 per share.

^F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^J Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Emerging Asia Fund Class Z

Years ended October 31,	2021	2020	2019	2018 ^A
Selected Per–Share Data
Net asset value, beginning of period	$58.22	$41.12	$34.60	$38.03
Income from Investment Operations
Net investment income (loss)^B	(.15)^C	–^D	.40	–
Net realized and unrealized gain (loss)	10.50	19.38	8.47	(3.43)
Total from investment operations	10.35	19.38	8.87	(3.43)
Distributions from net investment income	–	(.30)^E	(.42)	–
Distributions from net realized gain	(4.47)	(1.99)^E	(1.93)	–
Total distributions	(4.47)	(2.28)^F	(2.35)	–
Redemption fees added to paid in capital^B	–	–	–	–^D
Net asset value, end of period	$64.10	$58.22	$41.12	$34.60
Total Return^G,^H	17.92%	49.80%	27.14%	(9.02)%
Ratios to Average Net Assets^I,^J
Expenses before reductions	.81%	.86%	.89%	.97%^K
Expenses net of fee waivers, if any	.81%	.85%	.89%	.97%^K
Expenses net of all reductions	.81%	.82%	.89%	.95%^K
Net investment income (loss)	(.22)%^C	- %^L	1.04%	(.02)%^K
Supplemental Data
Net assets, end of period (000 omitted)	$264,327	$103,477	$44,545	$573
Portfolio turnover rate^M	79%	110%	69%^N	34%

^A For the period October 2, 2018 (commencement of sale of shares) through October 31, 2018.

^B Calculated based on average shares outstanding during the period.

^C Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.06 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.32) %.

^D Amount represents less than $.005 per share.

^E The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^F Total distributions per share do not sum due to rounding.

^G Total returns for periods of less than one year are not annualized.

^H Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^I Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

^J Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

^K Annualized

^L Amount represents less than .005%.

^M Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^N Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Notes to Financial Statements

For the period ended October 31, 2021

1. Organization.

Fidelity Advisor Emerging Asia Fund (the Fund) is a fund of Fidelity Advisor Series VIII (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Effective June 21, 2021, Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. Prior to June 21, 2021, Class C shares automatically converted to Class A shares after a holding period of ten years from the initial date of purchase, with certain exceptions. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

2. Investments in Fidelity Central Funds.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense Ratio^(a)
Fidelity Money Market Central Funds	Fidelity Management & Research Company LLC (FMR)	Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.	Short-term Investments	Less than .005%

(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

3. Significant Accounting Policies.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 – quoted prices in active markets for identical investments
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Large, non-recurring dividends recognized by the Fund are presented separately on the Statement of Operations as "Special Dividends" and the impact of these dividends is presented in the Financial Highlights. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP. In addition, the Fund claimed a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.

Book-tax differences are primarily due to foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC) and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$319,466,035
Gross unrealized depreciation	(141,892,434)
Net unrealized appreciation (depreciation)	$177,573,601
Tax Cost	$987,183,492

The tax-based components of distributable earnings as of period end were as follows:

Undistributed ordinary income	$1,229,677
Undistributed long-term capital gain	$103,496,703
Net unrealized appreciation (depreciation) on securities and other investments	$177,499,943

The tax character of distributions paid was as follows:

	October 31, 2021	October 31, 2020
Ordinary Income	$42,083,446	$ 2,188,267
Long-term Capital Gains	25,435,876	15,572,102
Total	$67,519,322	$ 17,760,369

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Advisor Emerging Asia Fund	1,153,826,512	978,511,896

5. Fees and Other Transactions with Affiliates.

	Distribution Fee	Service Fee	Total Fees	Retained by FDC
Class A	-%	.25%	$711,224	$33,586
Class M	.25%	.25%	345,524	7,116
Class C	.75%	.25%	370,900	87,270
			$1,427,648	$127,972

For the period, sales charge amounts retained by FDC were as follows:

	Retained by FDC
Class A	$99,977
Class M	9,896
Class C^(a)	2,361
	$112,234

(a) When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
Class A	$520,287	.18
Class M	127,968	.19
Class C	70,595	.19
Class I	1,153,066	.18
Class Z	101,737	.04
	$1,973,653

	% of Average Net Assets
Fidelity Advisor Emerging Asia Fund	.05

	Amount
Fidelity Advisor Emerging Asia Fund	$8,124

Interfund Lending Program. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the Fund to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. Activity in this program during the period for which loans were outstanding was as follows:

	Borrower or Lender	Average Loan Balance	Weighted Average Interest Rate	Interest Expense
Fidelity Advisor Emerging Asia Fund	Borrower	$9,386,508	.32%	$5,455

	Purchases ($)	Sales ($)	Realized Gain (Loss) ($)
Fidelity Advisor Emerging Asia Fund	60,935,480	11,813,563	3,514,423

6. Committed Line of Credit.

	Amount
Fidelity Advisor Emerging Asia Fund	$2,273

7. Security Lending.

	Total Security Lending Fees Paid to NFS	Security Lending Income From Securities Loaned to NFS	Value of Securities Loaned to NFS at Period End
Fidelity Advisor Emerging Asia Fund	$70,938	$1,967	$–

8. Bank Borrowings.

The Fund is permitted to have bank borrowings for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity requirements. The Fund has established borrowing arrangements with certain banks. The interest rate on the borrowings is the bank's base rate, as revised from time to time. Any open loans, including accrued interest, at period end are presented under the caption "Notes payable" in the Statement of Assets and Liabilities, if applicable. Activity in this program during the period for which loans were outstanding was as follows:

	Average Loan Balance	Weighted Average Interest Rate	Interest Expense
Fidelity Advisor Emerging Asia Fund	$1,561,200	.58%	$126

9. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, custodian credits reduced the Fund's expenses by $22.

In addition, during the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $19,894.

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Emerging Asia Fund
Distributions to shareholders
Class A	$16,330,766	$7,621,612
Class M	4,291,089	2,011,365
Class C	2,394,785	1,205,569
Class I	35,966,985	4,430,962
Class Z	8,535,697	2,490,861
Total	$67,519,322	$17,760,369

11. Share Transactions.

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

	Shares	Shares	Dollars	Dollars
	Year ended October 31, 2021	Year ended October 31, 2020	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Emerging Asia Fund
Class A
Shares sold	1,466,058	646,209	$97,597,236	$29,839,745
Reinvestment of distributions	249,427	185,308	15,200,072	7,080,630
Shares redeemed	(1,027,205)	(757,424)	(65,746,292)	(33,190,606)
Net increase (decrease)	688,280	74,093	$47,051,016	$3,729,769
Class M
Shares sold	216,382	96,453	$13,968,325	$4,612,061
Reinvestment of distributions	72,109	53,870	4,248,659	1,996,956
Shares redeemed	(265,354)	(166,831)	(16,639,873)	(6,905,879)
Net increase (decrease)	23,137	(16,508)	$1,577,111	$(296,862)
Class C
Shares sold	314,439	98,735	$18,955,234	$4,224,772
Reinvestment of distributions	44,242	33,823	2,392,624	1,160,124
Shares redeemed	(436,445)	(229,730)	(25,308,618)	(8,966,795)
Net increase (decrease)	(77,764)	(97,172)	$(3,960,760)	$(3,581,899)
Class I
Shares sold	9,662,721	6,650,114	$672,568,852	$327,576,465
Reinvestment of distributions	513,963	94,091	32,436,202	3,711,877
Shares redeemed	(9,921,581)	(1,500,937)	(665,714,712)	(68,990,190)
Net increase (decrease)	255,103	5,243,268	$39,290,342	$262,298,152
Class Z
Shares sold	3,868,616	1,116,355	$266,599,478	$50,641,342
Reinvestment of distributions	128,161	60,302	8,074,147	2,372,870
Shares redeemed	(1,650,559)	(482,522)	(109,296,489)	(22,075,858)
Net increase (decrease)	2,346,218	694,135	$165,377,136	$30,938,354

12. Other.

13. Coronavirus (COVID-19) Pandemic.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Advisor Series VIII and Shareholders of Fidelity Advisor Emerging Asia Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity Advisor Emerging Asia Fund (one of the funds constituting Fidelity Advisor Series VIII, referred to hereafter as the “Fund”) as of October 31, 2021, the related statement of operations for the year ended October 31, 2021, the statement of changes in net assets for each of the two years in the period ended October 31, 2021, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2021, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2021 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

December 15, 2021

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

Trustees and Officers

The fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-877-208-0098.

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Bettina Doulton (1964)

Year of Election or Appointment: 2021

Trustee

Robert A. Lawrence (1952)

Year of Election or Appointment: 2020

Trustee

Acting Chairman of the Board of Trustees

* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Thomas P. Bostick (1956)

Year of Election or Appointment: 2021

Trustee

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Vicki L. Fuller (1957)

Year of Election or Appointment: 2020

Trustee

Patricia L. Kampling (1959)

Year of Election or Appointment: 2020

Trustee

Thomas A. Kennedy (1955)

Year of Election or Appointment: 2021

Trustee

Oscar Munoz (1959)

Year of Election or Appointment: 2021

Trustee

Garnett A. Smith (1947)

Year of Election or Appointment: 2018

Trustee

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Lead Independent Trustee

Susan Tomasky (1953)

Year of Election or Appointment: 2020

Trustee

Michael E. Wiley (1950)

Year of Election or Appointment: 2020

Trustee

Advisory Board Members and Officers:

Name, Year of Birth; Principal Occupation

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Craig S. Brown (1977)

Year of Election or Appointment: 2019

Assistant Treasurer

Mr. Brown also serves as an officer of other funds. Mr. Brown serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2013-present).

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

William C. Coffey (1969)

Year of Election or Appointment: 2019

Assistant Secretary

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Colm A. Hogan (1973)

Year of Election or Appointment: 2020

Assistant Treasurer

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Cynthia Lo Bessette (1969)

Year of Election or Appointment: 2019

Secretary and Chief Legal Officer (CLO)

Chris Maher (1972)

Year of Election or Appointment: 2020

Deputy Treasurer

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2020

Chief Compliance Officer

Brett Segaloff (1972)

Year of Election or Appointment: 2021

Anti-Money Laundering (AML) Officer

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Jim Wegmann (1979)

Year of Election or Appointment: 2019

Assistant Treasurer

Shareholder Expense Example

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2021 to October 31, 2021).

Actual Expenses

Hypothetical Example for Comparison Purposes

	Annualized Expense Ratio-^A	Beginning Account Value May 1, 2021	Ending Account Value October 31, 2021	Expenses Paid During Period-^B May 1, 2021 to October 31, 2021
Fidelity Advisor Emerging Asia Fund
Class A	1.19%
Actual		$1,000.00	$922.80	$5.77
Hypothetical-^C		$1,000.00	$1,019.21	$6.06
Class M	1.44%
Actual		$1,000.00	$921.70	$6.97
Hypothetical-^C		$1,000.00	$1,017.95	$7.32
Class C	1.94%
Actual		$1,000.00	$919.30	$9.39
Hypothetical-^C		$1,000.00	$1,015.43	$9.86
Class I	.92%
Actual		$1,000.00	$924.10	$4.46
Hypothetical-^C		$1,000.00	$1,020.57	$4.69
Class Z	.80%
Actual		$1,000.00	$924.70	$3.88
Hypothetical-^C		$1,000.00	$1,021.17	$4.08

^A Annualized expense ratio reflects expenses net of applicable fee waivers.

^C 5% return per year before expenses

Distributions (Unaudited)

The Board of Trustees of Fidelity Advisor Emerging Asia Fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities, and dividends derived from net investment income:

	Pay Date	Record Date	Dividends	Capital Gains
Fidelity Advisor Emerging Asia Fund
Class A	12/06/21	12/03/21	$0.000	$6.360
Class M	12/06/21	12/03/21	$0.000	$6.360
Class C	12/06/21	12/03/21	$0.000	$6.360
Class I	12/06/21	12/03/21	$0.066	$6.360
Class Z	12/06/21	12/03/21	$0.211	$6.360

The fund hereby designates as a capital gain dividend with respect to the taxable year ended October 31, 2021, $112,473,824, or, if subsequently determined to be different, the net capital gain of such year.

The fund designates 100% of the short-term capital gain dividends distributed during the fiscal year as qualifying to be taxed as short-term capital gain dividends for nonresident alien shareholders.

Class A, Class M, Class C, Class I, and Class Z designate 6% of the dividends distributed during the fiscal year as amounts which may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

The amounts per share which represent income derived from sources within, and taxes paid to, foreign countries or possessions of the United States are as follows:

	Pay Date	Income	Taxes
Fidelity Advisor Emerging Asia Fund
Class A	12/07/20	$0.2571	$0.0505
Class M	12/07/20	$0.2481	$0.0505
Class C	12/07/20	$0.2334	$0.0505
Class I	12/07/20	$0.2692	$0.0505
Class Z	12/07/20	$0.2717	$0.0505

The fund will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Advisor Emerging Asia Fund

Investment Performance. The Board considered whether the fund has operated in accordance with its investment objective, as well as its record of compliance with its investment restrictions and its performance history. The Board noted that there were portfolio management changes for the fund in May 2019 and January 2020. The Board will continue to monitor closely the fund's performance, taking into account the portfolio management changes.

The Independent Trustees recognize that shareholders evaluate performance on a net basis over their own holding periods, for which one-, three-, and five-year periods are often used as a proxy. For this reason, the performance information reviewed by the Board also included net cumulative total return information for the fund and an appropriate benchmark index for the most recent one-, three-, and five-year periods ended September 30, 2020, as shown below. A peer group is not shown below because the fund does not generally utilize a peer group for performance comparison purposes. Returns of the benchmark index are "net MA," i.e., adjusted for tax withholding rates applicable to U.S.-based funds organized as Massachusetts business trusts.

Fidelity Advisor Emerging Asia Fund

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

Fidelity Advisor Emerging Asia Fund

The Board noted that the fund's management fee rate ranked below the median of its Total Mapped Group and below the median of its ASPG for the 12-month period ended September, 30 2020.

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

The Board noted that the total expense ratio of Class I ranked below the SLTG competitive median and below the ASPG competitive median for the 12-month period ended September 30, 2020.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Fidelity Investments

AEA-ANN-1221
1.703376.124

Fidelity Advisor^® Focused Emerging Markets Fund (formerly Fidelity Advisor^® Emerging Markets Fund)

Annual Report

October 31, 2021

Contents

Note to Shareholders
Performance
Management's Discussion of Fund Performance
Investment Summary
Schedule of Investments
Financial Statements
Notes to Financial Statements
Report of Independent Registered Public Accounting Firm
Trustees and Officers
Shareholder Expense Example
Distributions
Board Approval of Investment Advisory Contracts and Management Fees

You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Note to Shareholders:

Performance: The Bottom Line

Average Annual Total Returns

For the periods ended October 31, 2021	Past 1 year	Past 5 years	Past 10 years
Class A (incl. 5.75% sales charge)	12.57%	11.75%	6.84%
Class M (incl. 3.50% sales charge)	14.93%	11.96%	6.80%
Class C (incl. contingent deferred sales charge)	17.52%	12.21%	6.82%
Class I	19.77%	13.45%	7.83%
Class Z	19.94%	13.61%	7.96%

Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.

The initial offering of Class Z shares took place on August 13, 2013. Returns prior to August 13, 2013, are those of Class I.

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Focused Emerging Markets Fund - Class A on October 31, 2011, and the current 5.75% sales charge was paid.

The chart shows how the value of your investment would have changed, and also shows how the MSCI Emerging Markets Index performed over the same period.

	Period Ending Values
	$19,377	Fidelity Advisor® Focused Emerging Markets Fund - Class A
	$16,162	MSCI Emerging Markets Index

Management's Discussion of Fund Performance

Comments from Portfolio Manager Sam Polyak: For the fiscal year ending October 31, 2021, the fund's share classes (excluding sales charges, if applicable) gained roughly 19% to 20%, outperforming the 16.98% result of the benchmark MSCI Emerging Markets (Net MA) Index. From a regional standpoint, an underweighting and stock picks in Emerging Asia, specifically China, and an overweighting in Emerging Europe, primarily driven by Hungary, contributed most to the fund's relative result. By sector, the top contributor to performance versus the benchmark was our security selection in the consumer discretionary sector. Favorable picks and an underweighting in health care, along with investment choices in industrials, also helped. The biggest individual relative contributor was an overweight position in State Bank of India (+84%), which was a stake we established the past 12 months. Also helping performance was our overweighting in Larsen & Toubro, which gained 93% and was among the portfolio’s largest holdings as of October 31. Another notable relative contributor was our smaller-than-benchmark stake in Alibaba Group Holding (-45%). The company was among our biggest holdings. Conversely, an underweighting in the Middle East and a non-benchmark allocation to developed markets stocks, specifically Canada, hindered the fund's relative result. By sector, the primary detractor from performance versus the benchmark was our security selection in communication services. Picks among materials and information technology stocks also hindered relative performance. The fund's largest individual relative detractor was an outsized stake in Tencent Holdings, which returned -19% the past 12 months. We added to our position in this company. Also hurting performance was our untimely positioning in Baidu (-50%), which was no longer held at period end. The fund's stake in Barrick Gold, a non-benchmark position we established this period, returned roughly -30%. Notable changes in positioning include increased exposure to India and South Korea. By sector, meaningful changes in positioning include increased exposure to financials and a lower allocation to industrials.

Note to Shareholders: On January 1, 2021, the fund adopted an investment policy of investing in 30 to 70 stocks and, accordingly, its name was changed to Advisor Focused Emerging Markets.

Investment Summary (Unaudited)

Top Five Stocks as of October 31, 2021

	% of fund's net assets
Tencent Holdings Ltd. (Cayman Islands, Interactive Media & Services)	9.2
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals)	9.1
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment)	6.2
JD.com, Inc. sponsored ADR (Cayman Islands, Internet & Direct Marketing Retail)	4.5
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet & Direct Marketing Retail)	3.4
	32.4

Top Five Market Sectors as of October 31, 2021

	% of fund's net assets
Financials	22.4
Consumer Discretionary	18.0
Information Technology	16.2
Communication Services	10.4
Materials	8.4

Top Five Countries as of October 31, 2021

(excluding cash equivalents)	% of fund's net assets
Cayman Islands	22.1
Korea (South)	13.2
India	12.1
Taiwan	12.0
China	11.3

Asset Allocation (% of fund's net assets)

As of October 31, 2021
	Stocks	98.8%
	Short-Term Investments and Net Other Assets (Liabilities)	1.2%

Schedule of Investments October 31, 2021

Showing Percentage of Net Assets

Common Stocks - 94.8%
	Shares	Value
Bermuda - 2.2%
Credicorp Ltd. (United States) (a)	245,600	$31,844,496
Shangri-La Asia Ltd. (b)	15,732,000	12,819,341

TOTAL BERMUDA		44,663,837

Brazil - 1.6%
Natura & Co. Holding SA (b)	4,684,900	32,290,763
Canada - 2.5%
Barrick Gold Corp.	2,784,000	51,142,080
Cayman Islands - 22.1%
Alibaba Group Holding Ltd. sponsored ADR (b)	420,600	69,373,764
JD.com, Inc. sponsored ADR (b)	1,179,933	92,365,155
Li Ning Co. Ltd.	1,672,000	18,588,523
Meituan Class B (b)(c)	1,639,400	55,786,555
Tencent Holdings Ltd.	3,141,800	191,115,043
XP, Inc. Class A (b)	908,283	29,800,765

TOTAL CAYMAN ISLANDS		457,029,805

China - 11.3%
China Life Insurance Co. Ltd. (H Shares)	20,032,000	34,801,010
China Merchants Bank Co. Ltd. (H Shares)	5,206,500	43,864,286
Haier Smart Home Co. Ltd. (A Shares)	12,496,628	53,062,995
Industrial & Commercial Bank of China Ltd. (H Shares)	111,995,000	61,391,433
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)	695,500	40,833,719

TOTAL CHINA		233,953,443

Greece - 1.4%
National Bank of Greece SA (b)	9,057,400	28,479,364
Hong Kong - 2.2%
China Resources Beer Holdings Co. Ltd.	5,394,000	44,716,021
Hungary - 2.5%
Richter Gedeon PLC	1,828,308	51,217,716
India - 12.1%
Eicher Motors Ltd.	581,600	19,280,364
Graphite India Ltd.	816,976	5,846,520
Housing Development Finance Corp. Ltd.	1,273,898	48,347,110
Larsen & Toubro Ltd.	2,313,900	54,537,408
Shree Cement Ltd.	72,783	27,805,475
Solar Industries India Ltd.	831,757	27,598,176
State Bank of India	6,224,200	41,698,113
Voltas Ltd.	1,573,200	25,281,810

TOTAL INDIA		250,394,976

Indonesia - 2.9%
PT Bank Mandiri (Persero) Tbk	74,264,269	37,545,950
PT United Tractors Tbk	13,617,100	22,635,095

TOTAL INDONESIA		60,181,045

Korea (South) - 13.2%
Hyundai Motor Co.	118,530	21,091,084
POSCO	108,390	27,350,247
Samsung Electronics Co. Ltd.	3,136,381	186,822,505
Shinhan Financial Group Co. Ltd.	1,156,650	37,567,540

TOTAL KOREA (SOUTH)		272,831,376

Mexico - 2.8%
CEMEX S.A.B. de CV sponsored ADR (b)	3,025,400	19,453,322
Grupo Financiero Banorte S.A.B. de CV Series O	3,028,700	19,175,784
Wal-Mart de Mexico SA de CV Series V	5,860,300	20,440,458

TOTAL MEXICO		59,069,564

Netherlands - 1.2%
Yandex NV Series A (a)(b)	299,600	24,818,864
Russia - 3.8%
Lukoil PJSC sponsored ADR	503,900	51,397,800
Sberbank of Russia sponsored ADR	1,356,900	27,165,138

TOTAL RUSSIA		78,562,938

South Africa - 1.0%
Impala Platinum Holdings Ltd.	1,669,600	21,608,550
Taiwan - 12.0%
ECLAT Textile Co. Ltd.	1,446,000	31,521,709
HIWIN Technologies Corp.	2,688,460	29,834,230
Sporton International, Inc.	1,190,350	9,639,933
Taiwan Semiconductor Manufacturing Co. Ltd.	6,082,554	128,904,482
Uni-President Enterprises Corp.	12,455,000	29,790,016
Yageo Corp.	1,196,000	18,641,192

TOTAL TAIWAN		248,331,562

TOTAL COMMON STOCKS
(Cost $1,747,959,751)		1,959,291,904

Nonconvertible Preferred Stocks - 4.0%
Brazil - 4.0%
Ambev SA sponsored ADR (a)	8,307,000	24,588,720
Itau Unibanco Holding SA	5,120,980	21,150,651
Petroleo Brasileiro SA - Petrobras sponsored ADR	3,836,378	37,673,232
TOTAL NONCONVERTIBLE PREFERRED STOCKS
(Cost $82,238,872)		83,412,603

Money Market Funds - 2.9%
Fidelity Cash Central Fund 0.06% (d)	30,842,501	30,848,669
Fidelity Securities Lending Cash Central Fund 0.06% (d)(e)	28,267,123	28,269,950
TOTAL MONEY MARKET FUNDS
(Cost $59,118,619)		59,118,619
TOTAL INVESTMENT IN SECURITIES - 101.7%
(Cost $1,889,317,242)		2,101,823,126
NET OTHER ASSETS (LIABILITIES) - (1.7)%		(35,590,663)
NET ASSETS - 100%		$2,066,232,463

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

(a) Security or a portion of the security is on loan at period end.

(b) Non-income producing

(c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $55,786,555 or 2.7% of net assets.

(d) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

(e) Investment made with cash collateral received from securities on loan.

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Fund	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Realized Gain/Loss	Change in Unrealized appreciation (depreciation)	Value, end of period	% ownership, end of period
Fidelity Cash Central Fund 0.06%	$36,150,215	$974,912,479	$980,212,576	$33,619	$(1,449)	$--	$30,848,669	0.1%
Fidelity Securities Lending Cash Central Fund 0.06%	8,224,125	164,663,794	144,617,969	31,987	--	--	28,269,950	0.1%
Total	$44,374,340	$1,139,576,273	$1,124,830,545	$65,606	$(1,449)	$--	$59,118,619

Investment Valuation

	Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Communication Services	$215,933,907	$24,818,864	$191,115,043	$--
Consumer Discretionary	373,889,490	297,011,851	76,877,639	--
Consumer Staples	151,825,978	151,825,978	--	--
Energy	111,706,127	111,706,127	--	--
Financials	462,831,640	291,525,707	171,305,933	--
Health Care	92,051,435	92,051,435	--	--
Industrials	125,139,901	125,139,901	--	--
Information Technology	334,368,179	18,641,192	315,726,987	--
Materials	174,957,850	125,999,053	48,958,797	--
Money Market Funds	59,118,619	59,118,619	--	--
Total Investments in Securities:	$2,101,823,126	$1,297,838,727	$803,984,399	$--

See accompanying notes which are an integral part of the financial statements.

Financial Statements

Statement of Assets and Liabilities

		October 31, 2021
Assets
Investment in securities, at value (including securities loaned of $27,548,176) — See accompanying schedule: Unaffiliated issuers (cost $1,830,198,623)	$2,042,704,507
Fidelity Central Funds (cost $59,118,619)	59,118,619
Total Investment in Securities (cost $1,889,317,242)		$2,101,823,126
Foreign currency held at value (cost $688,389)		688,389
Receivable for investments sold		785,258
Receivable for fund shares sold		6,643,361
Dividends receivable		895,616
Distributions receivable from Fidelity Central Funds		3,693
Prepaid expenses		2,776
Other receivables		137,479
Total assets		2,110,979,698
Liabilities
Payable for investments purchased	$3,983,217
Payable for fund shares redeemed	1,510,076
Accrued management fee	1,319,866
Distribution and service plan fees payable	92,617
Other affiliated payables	260,719
Other payables and accrued expenses	9,310,790
Collateral on securities loaned	28,269,950
Total liabilities		44,747,235
Net Assets		$2,066,232,463
Net Assets consist of:
Paid in capital		$1,786,444,644
Total accumulated earnings (loss)		279,787,819
Net Assets		$2,066,232,463
Net Asset Value and Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($191,955,165 ÷ 5,330,346 shares)^(a)		$36.01
Maximum offering price per share (100/94.25 of $36.01)		$38.21
Class M:
Net Asset Value and redemption price per share ($48,494,150 ÷ 1,363,728 shares)^(a)		$35.56
Maximum offering price per share (100/96.50 of $35.56)		$36.85
Class C:
Net Asset Value and offering price per share ($37,777,224 ÷ 1,130,546 shares)^(a)		$33.42
Class I:
Net Asset Value, offering price and redemption price per share ($660,306,678 ÷ 18,205,813 shares)		$36.27
Class Z:
Net Asset Value, offering price and redemption price per share ($1,127,699,246 ÷ 31,146,898 shares)		$36.21

(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Statement of Operations

		Year ended October 31, 2021
Investment Income
Dividends		$39,825,836
Non-Cash dividends		3,461,904
Income from Fidelity Central Funds (including $31,987 from security lending)		65,606
Income before foreign taxes withheld		43,353,346
Less foreign taxes withheld		(4,947,547)
Total income		38,405,799
Expenses
Management fee	$13,805,693
Transfer agent fees	2,058,615
Distribution and service plan fees	1,182,067
Accounting fees	790,133
Custodian fees and expenses	404,311
Independent trustees' fees and expenses	6,321
Registration fees	190,407
Audit	85,011
Legal	2,573
Interest	186
Miscellaneous	6,427
Total expenses before reductions	18,531,744
Expense reductions	(30,125)
Total expenses after reductions		18,501,619
Net investment income (loss)		19,904,180
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	97,260,314
Fidelity Central Funds	(1,449)
Foreign currency transactions	(545,443)
Total net realized gain (loss)		96,713,422
Change in net unrealized appreciation (depreciation) on:
Investment securities:
Unaffiliated issuers (net of increase in deferred foreign taxes of $9,091,771)	51,142,300
Assets and liabilities in foreign currencies	12,465
Total change in net unrealized appreciation (depreciation)		51,154,765
Net gain (loss)		147,868,187
Net increase (decrease) in net assets resulting from operations		$167,772,367

See accompanying notes which are an integral part of the financial statements.

Statement of Changes in Net Assets

	Year ended October 31, 2021	Year ended October 31, 2020
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$19,904,180	$5,927,544
Net realized gain (loss)	96,713,422	16,251,996
Change in net unrealized appreciation (depreciation)	51,154,765	105,120,001
Net increase (decrease) in net assets resulting from operations	167,772,367	127,299,541
Distributions to shareholders	(27,152,600)	(3,130,598)
Share transactions - net increase (decrease)	841,937,805	350,002,246
Total increase (decrease) in net assets	982,557,572	474,171,189
Net Assets
Beginning of period	1,083,674,891	609,503,702
End of period	$2,066,232,463	$1,083,674,891

See accompanying notes which are an integral part of the financial statements.

Financial Highlights

Fidelity Advisor Focused Emerging Markets Fund Class A

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$30.73	$26.18	$24.48	$28.86	$22.30
Income from Investment Operations
Net investment income (loss)^A	.31	.15	.44^B	.09	.08
Net realized and unrealized gain (loss)	5.64	4.48	4.26	(4.39)	6.49
Total from investment operations	5.95	4.63	4.70	(4.30)	6.57
Distributions from net investment income	(.05)	(.08)	(.06)^C	(.05)	(.01)
Distributions from net realized gain	(.62)	–	(2.94)^C	(.03)	–
Total distributions	(.67)	(.08)	(3.00)	(.08)	(.01)
Redemption fees added to paid in capital^A	–	–	–	–^D	–^D
Net asset value, end of period	$36.01	$30.73	$26.18	$24.48	$28.86
Total Return^E,^F	19.43%	17.71%	19.42%	(14.93)%	29.46%
Ratios to Average Net Assets^G,^H
Expenses before reductions	1.32%	1.39%	1.41%	1.44%	1.47%
Expenses net of fee waivers, if any	1.32%	1.39%	1.41%	1.44%	1.47%
Expenses net of all reductions	1.32%	1.36%	1.39%	1.40%	1.46%
Net investment income (loss)	.83%	.54%	1.62%^B	.30%	.34%
Supplemental Data
Net assets, end of period (000 omitted)	$191,955	$150,749	$144,062	$120,499	$142,129
Portfolio turnover rate^I	51%	66%	166%^J	87%	86%

^A Calculated based on average shares outstanding during the period.

^B Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.32 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .44%.

^C The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^D Amount represents less than $.005 per share.

^E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^F Total returns do not include the effect of the sales charges.

^I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^J Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Focused Emerging Markets Fund Class M

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$30.36	$25.86	$24.25	$28.61	$22.16
Income from Investment Operations
Net investment income (loss)^A	.20	.07	.36^B	–^C	.02
Net realized and unrealized gain (loss)	5.58	4.43	4.20	(4.34)	6.43
Total from investment operations	5.78	4.50	4.56	(4.34)	6.45
Distributions from net investment income	–	–	(.02)^D	–	–
Distributions from net realized gain	(.58)	–	(2.93)^D	(.02)	–
Total distributions	(.58)	–	(2.95)	(.02)	–
Redemption fees added to paid in capital^A	–	–	–	–^C	–^C
Net asset value, end of period	$35.56	$30.36	$25.86	$24.25	$28.61
Total Return^E,^F	19.10%	17.40%	19.03%	(15.17)%	29.11%
Ratios to Average Net Assets^G,^H
Expenses before reductions	1.61%	1.68%	1.70%	1.73%	1.75%
Expenses net of fee waivers, if any	1.60%	1.67%	1.70%	1.73%	1.75%
Expenses net of all reductions	1.60%	1.64%	1.68%	1.69%	1.73%
Net investment income (loss)	.55%	.25%	1.33%^B	- %^I	.06%
Supplemental Data
Net assets, end of period (000 omitted)	$48,494	$42,509	$45,310	$40,616	$53,572
Portfolio turnover rate^J	51%	66%	166%^K	87%	86%

^A Calculated based on average shares outstanding during the period.

^C Amount represents less than $.005 per share.

^D The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^F Total returns do not include the effect of the sales charges.

^I Amount represents less than .005%.

^J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^K Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Focused Emerging Markets Fund Class C

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$28.57	$24.46	$23.18	$27.46	$21.37
Income from Investment Operations
Net investment income (loss)^A	.01	(.06)	.22^B	(.13)	(.10)
Net realized and unrealized gain (loss)	5.27	4.17	4.02	(4.15)	6.19
Total from investment operations	5.28	4.11	4.24	(4.28)	6.09
Distributions from net investment income	–	–	(.02)^C	–	–
Distributions from net realized gain	(.43)	–	(2.94)^C	–	–
Total distributions	(.43)	–	(2.96)	–	–
Redemption fees added to paid in capital^A	–	–	–	–^D	–^D
Net asset value, end of period	$33.42	$28.57	$24.46	$23.18	$27.46
Total Return^E,^F	18.52%	16.80%	18.48%	(15.59)%	28.50%
Ratios to Average Net Assets^G,^H
Expenses before reductions	2.11%	2.18%	2.20%	2.22%	2.24%
Expenses net of fee waivers, if any	2.11%	2.17%	2.20%	2.22%	2.24%
Expenses net of all reductions	2.11%	2.14%	2.17%	2.19%	2.22%
Net investment income (loss)	.04%	(.25)%	.83%^B	(.49)%	(.43)%
Supplemental Data
Net assets, end of period (000 omitted)	$37,777	$35,268	$41,615	$50,617	$57,599
Portfolio turnover rate^I	51%	66%	166%^J	87%	86%

^A Calculated based on average shares outstanding during the period.

^B Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.30 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.34)%.

^C The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^D Amount represents less than $.005 per share.

^E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^F Total returns do not include the effect of the contingent deferred sales charge.

^I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^J Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Focused Emerging Markets Fund Class I

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$30.94	$26.34	$24.65	$29.03	$22.44
Income from Investment Operations
Net investment income (loss)^A	.42	.24	.54^B	.18	.17
Net realized and unrealized gain (loss)	5.67	4.51	4.26	(4.41)	6.51
Total from investment operations	6.09	4.75	4.80	(4.23)	6.68
Distributions from net investment income	(.15)	(.15)	(.17)^C	(.12)	(.09)
Distributions from net realized gain	(.62)	–	(2.94)^C	(.03)	–
Total distributions	(.76)^D	(.15)	(3.11)	(.15)	(.09)
Redemption fees added to paid in capital^A	–	–	–	–^E	–^E
Net asset value, end of period	$36.27	$30.94	$26.34	$24.65	$29.03
Total Return^F	19.77%	18.13%	19.78%	(14.64)%	29.94%
Ratios to Average Net Assets^G,^H
Expenses before reductions	1.03%	1.06%	1.09%	1.12%	1.13%
Expenses net of fee waivers, if any	1.03%	1.06%	1.09%	1.12%	1.13%
Expenses net of all reductions	1.03%	1.03%	1.06%	1.08%	1.11%
Net investment income (loss)	1.13%	.86%	1.94%^B	.62%	.68%
Supplemental Data
Net assets, end of period (000 omitted)	$660,307	$312,731	$288,485	$394,904	$340,526
Portfolio turnover rate^I	51%	66%	166%^J	87%	86%

^A Calculated based on average shares outstanding during the period.

^B Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.33 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s) the ratio of net investment income (loss) to average net assets would have been .77%.

^C The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^D Total distributions per share do not sum due to rounding.

^E Amount represents less than $.005 per share.

^F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^J Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Focused Emerging Markets Fund Class Z

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$30.89	$26.33	$24.65	$29.02	$22.44
Income from Investment Operations
Net investment income (loss)^A	.47	.28	.57^B	.22	.21
Net realized and unrealized gain (loss)	5.66	4.50	4.26	(4.41)	6.50
Total from investment operations	6.13	4.78	4.83	(4.19)	6.71
Distributions from net investment income	(.20)	(.22)	(.21)^C	(.15)	(.13)
Distributions from net realized gain	(.62)	–	(2.94)^C	(.03)	–
Total distributions	(.81)^D	(.22)	(3.15)	(.18)	(.13)
Redemption fees added to paid in capital^A	–	–	–	–^E	–^E
Net asset value, end of period	$36.21	$30.89	$26.33	$24.65	$29.02
Total Return^F	19.94%	18.29%	19.93%	(14.52)%	30.13%
Ratios to Average Net Assets^G,^H
Expenses before reductions	.90%	.94%	.95%	.98%	.98%
Expenses net of fee waivers, if any	.90%	.93%	.95%	.98%	.98%
Expenses net of all reductions	.90%	.90%	.92%	.94%	.97%
Net investment income (loss)	1.25%	.99%	2.09%^B	.76%	.82%
Supplemental Data
Net assets, end of period (000 omitted)	$1,127,699	$542,418	$90,032	$65,453	$14,387
Portfolio turnover rate^I	51%	66%	166%^J	87%	86%

^A Calculated based on average shares outstanding during the period.

^C The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^D Total distributions per share do not sum due to rounding.

^E Amount represents less than $.005 per share.

^F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^J Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Notes to Financial Statements

For the period ended October 31, 2021

1. Organization.

Fidelity Advisor Focused Emerging Markets Fund (the Fund)(formerly Fidelity Advisor Emerging Markets Fund) is a fund of Fidelity Advisor Series VIII (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Effective June 21, 2021, Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. Prior to June 21, 2021, Class C shares automatically converted to Class A shares after a holding period of ten years from the initial date of purchase, with certain exceptions. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

2. Investments in Fidelity Central Funds.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense Ratio^(a)
Fidelity Money Market Central Funds	Fidelity Management & Research Company LLC (FMR)	Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.	Short-term Investments	Less than .005%

(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

3. Significant Accounting Policies.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 – quoted prices in active markets for identical investments
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs, futures contracts, Exchange-Traded Funds (ETFs)and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Book-tax differences are primarily due to foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC) and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$351,105,285
Gross unrealized depreciation	(157,414,062)
Net unrealized appreciation (depreciation)	$193,691,223
Tax Cost	$1,908,131,903

The tax-based components of distributable earnings as of period end were as follows:

Undistributed ordinary income	$29,074,313
Undistributed long-term capital gain	$66,094,527
Net unrealized appreciation (depreciation) on securities and other investments	$193,710,751

The tax character of distributions paid was as follows:

	October 31, 2021	October 31, 2020
Ordinary Income	$13,295,528	$ 3,129,571
Long-term Capital Gains	13,857,072	1,027
Total	$27,152,600	$ 3,130,598

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Advisor Focused Emerging Markets Fund	1,710,540,971	864,951,811

5. Fees and Other Transactions with Affiliates.

	Distribution Fee	Service Fee	Total Fees	Retained by FDC
Class A	-%	.25%	$489,064	$16,050
Class M	.25%	.25%	260,132	1,681
Class C	.75%	.25%	432,871	79,279
			$1,182,067	$97,010

For the period, sales charge amounts retained by FDC were as follows:

	Retained by FDC
Class A	$55,881
Class M	6,854
Class C^(a)	1,091
	$63,826

(a) When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
Class A	$425,867	.22
Class M	129,608	.25
Class C	110,573	.26
Class I	1,010,706	.17
Class Z	381,861	.04
	$2,058,615

	% of Average Net Assets
Fidelity Advisor Focused Emerging Markets Fund	.04

	Amount
Fidelity Advisor Focused Emerging Markets Fund	$17,255

	Borrower or Lender	Average Loan Balance	Weighted Average Interest Rate	Interest Expense
Fidelity Advisor Focused Emerging Markets Fund	Borrower	$10,448,000	.32%	$186

	Purchases ($)	Sales ($)	Realized Gain (Loss) ($)
Fidelity Advisor Focused Emerging Markets Fund	45,737,856	15,635,367	(2,194,748)

6. Committed Line of Credit.

	Amount
Fidelity Advisor Focused Emerging Markets Fund	$3,000

7. Security Lending.

	Total Security Lending Fees Paid to NFS	Security Lending Income From Securities Loaned to NFS	Value of Securities Loaned to NFS at Period End
Fidelity Advisor Focused Emerging Markets Fund	$3,447	$–	$–

8. Expense Reductions.

In addition, during the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $30,077.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Focused Emerging Markets Fund
Distributions to shareholders
Class A	$3,269,063	$409,462
Class M	815,657	–
Class C	524,769	–
Class I	7,975,616	1,670,563
Class Z	14,567,495	1,050,573
Total	$27,152,600	$3,130,598

10. Share Transactions.

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

	Shares	Shares	Dollars	Dollars
	Year ended October 31, 2021	Year ended October 31, 2020	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Focused Emerging Markets Fund
Class A
Shares sold	1,446,101	928,739	$54,725,907	$25,402,112
Reinvestment of distributions	91,216	15,043	3,177,059	399,347
Shares redeemed	(1,111,936)	(1,541,734)	(41,562,562)	(41,017,799)
Net increase (decrease)	425,381	(597,952)	$16,340,404	$(15,216,340)
Class M
Shares sold	268,448	140,677	$9,992,297	$3,840,283
Reinvestment of distributions	23,091	–	796,190	–
Shares redeemed	(327,828)	(492,563)	(12,069,870)	(12,858,292)
Net increase (decrease)	(36,289)	(351,886)	$(1,281,383)	$(9,018,009)
Class C
Shares sold	361,253	185,413	$12,691,027	$4,786,457
Reinvestment of distributions	16,009	–	521,091	–
Shares redeemed	(481,004)	(652,459)	(16,888,679)	(16,128,456)
Net increase (decrease)	(103,742)	(467,046)	$(3,676,561)	$(11,341,999)
Class I
Shares sold	14,527,820	5,632,750	$555,294,070	$153,841,377
Reinvestment of distributions	217,624	59,042	7,614,673	1,572,879
Shares redeemed	(6,647,608)	(6,535,693)	(251,550,539)	(170,934,479)
Net increase (decrease)	8,097,836	(843,901)	$311,358,204	$(15,520,223)
Class Z
Shares sold	26,390,119	18,039,864	$988,674,538	$505,205,143
Reinvestment of distributions	161,741	27,591	5,643,146	733,083
Shares redeemed	(12,964,561)	(3,926,782)	(475,120,543)	(104,839,409)
Net increase (decrease)	13,587,299	14,140,673	$519,197,141	$401,098,817

11. Other.

12. Coronavirus (COVID-19) Pandemic.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Advisor Series VIII and Shareholders of Fidelity Advisor Focused Emerging Markets Fund (formerly Fidelity Advisor Emerging Markets Fund)

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities of Fidelity Advisor Focused Emerging Markets Fund (the "Fund"), a fund of Fidelity Advisor Series VIII, including the schedule of investments, as of October 31, 2021, the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of October 31, 2021, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of October 31, 2021, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Boston, Massachusetts

December 10, 2021

We have served as the auditor of one or more of the Fidelity investment companies since 1999.

Trustees and Officers

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Bettina Doulton (1964)

Year of Election or Appointment: 2021

Trustee

Robert A. Lawrence (1952)

Year of Election or Appointment: 2020

Trustee

Acting Chairman of the Board of Trustees

* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Thomas P. Bostick (1956)

Year of Election or Appointment: 2021

Trustee

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Vicki L. Fuller (1957)

Year of Election or Appointment: 2020

Trustee

Patricia L. Kampling (1959)

Year of Election or Appointment: 2020

Trustee

Thomas A. Kennedy (1955)

Year of Election or Appointment: 2021

Trustee

Oscar Munoz (1959)

Year of Election or Appointment: 2021

Trustee

Garnett A. Smith (1947)

Year of Election or Appointment: 2018

Trustee

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Lead Independent Trustee

Susan Tomasky (1953)

Year of Election or Appointment: 2020

Trustee

Michael E. Wiley (1950)

Year of Election or Appointment: 2020

Trustee

Advisory Board Members and Officers:

Name, Year of Birth; Principal Occupation

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Craig S. Brown (1977)

Year of Election or Appointment: 2019

Assistant Treasurer

Mr. Brown also serves as an officer of other funds. Mr. Brown serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2013-present).

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

William C. Coffey (1969)

Year of Election or Appointment: 2019

Assistant Secretary

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Colm A. Hogan (1973)

Year of Election or Appointment: 2020

Assistant Treasurer

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Cynthia Lo Bessette (1969)

Year of Election or Appointment: 2019

Secretary and Chief Legal Officer (CLO)

Chris Maher (1972)

Year of Election or Appointment: 2020

Deputy Treasurer

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2020

Chief Compliance Officer

Brett Segaloff (1972)

Year of Election or Appointment: 2021

Anti-Money Laundering (AML) Officer

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Jim Wegmann (1979)

Year of Election or Appointment: 2019

Assistant Treasurer

Shareholder Expense Example

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2021 to October 31, 2021).

Actual Expenses

Hypothetical Example for Comparison Purposes

	Annualized Expense Ratio-^A	Beginning Account Value May 1, 2021	Ending Account Value October 31, 2021	Expenses Paid During Period-^B May 1, 2021 to October 31, 2021
Fidelity Advisor Focused Emerging Markets Fund
Class A	1.31%
Actual		$1,000.00	$949.10	$6.44
Hypothetical-^C		$1,000.00	$1,018.60	$6.67
Class M	1.59%
Actual		$1,000.00	$947.80	$7.81
Hypothetical-^C		$1,000.00	$1,017.19	$8.08
Class C	2.09%
Actual		$1,000.00	$945.70	$10.25
Hypothetical-^C		$1,000.00	$1,014.67	$10.61
Class I	1.02%
Actual		$1,000.00	$950.50	$5.01
Hypothetical-^C		$1,000.00	$1,020.06	$5.19
Class Z	.89%
Actual		$1,000.00	$951.40	$4.38
Hypothetical-^C		$1,000.00	$1,020.72	$4.53

^A Annualized expense ratio reflects expenses net of applicable fee waivers.

^C 5% return per year before expenses

Distributions (Unaudited)

The Board of Trustees of Fidelity Advisor Focused Emerging Markets Fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities, and dividends derived from net investment income:

	Pay Date	Record Date	Dividends	Capital Gains
Fidelity Advisor Focused Emerging Markets Fund
Class A	12/6/2021	12/3/2021	$0.519	$1.117
Class M	12/6/2021	12/3/2021	$0.407	$1.117
Class C	12/6/2021	12/3/2021	$0.208	$1.117
Class I	12/6/2021	12/3/2021	$0.633	$1.117
Class Z	12/6/2021	12/3/2021	$0.682	$1.117

The fund hereby designates as a capital gain dividend with respect to the taxable year ended October 31, 2021, $91,431,775, or, if subsequently determined to be different, the net capital gain of such year.

The fund designates 99.63% of the short-term capital gain dividends distributed during the fiscal year as qualifying to be taxed as short-term capital gain dividends for nonresident alien shareholders.

Class A designates 100%; Class M designates 100%; Class C designates 100%; Class I designates 80% and Class Z designates 72% of the dividend distributed in December 2020, respectively, as amounts which may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

The amounts per share which represent income derived from sources within, and taxes paid to, foreign countries or possessions of the United States are as follows:

	Pay Date	Income	Taxes
Fidelity Advisor Focused Emerging Markets Fund
Class A	12/07/2020	$0.3401	$0.0587
Class M	12/07/2020	$0.2528	$0.0587
Class C	12/07/2020	$0.1019	$0.0587
Class I	12/07/2020	$0.4305	$0.0587
Class Z	12/07/2020	$0.4801	$0.0587

The fund will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.

Board Approval of Investment Advisory Contracts

Fidelity Advisor Focused Emerging Markets Fund

Investment Performance. The Board considered whether the fund has operated in accordance with its investment objective, as well as its record of compliance with its investment restrictions and its performance history. The Board noted that there were portfolio management changes for the fund in February 2019 and October 2019. The Board will continue to monitor closely the fund's performance, taking into account the portfolio management changes.

Fidelity Advisor Focused Emerging Markets Fund

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

Fidelity Advisor Focused Emerging Markets Fund

The Board noted that the fund's management fee rate ranked below the median of its Total Mapped Group and below the median of its ASPG for the 12-month period ended September 30, 2020.

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

The Board noted that the total expense ratio of Class I ranked below the SLTG competitive median and below the ASPG competitive median for the 12-month period ended September 30, 2020.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Fidelity Investments

FAEM-ANN-1221
1.809299.117

Fidelity Advisor® Global Capital Appreciation Fund

Annual Report

October 31, 2021

Contents

Note to Shareholders
Performance
Management's Discussion of Fund Performance
Investment Summary
Schedule of Investments
Financial Statements
Notes to Financial Statements
Report of Independent Registered Public Accounting Firm
Trustees and Officers
Shareholder Expense Example
Distributions
Board Approval of Investment Advisory Contracts and Management Fees

You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Note to Shareholders:

Performance: The Bottom Line

Average Annual Total Returns

For the periods ended October 31, 2021	Past 1 year	Past 5 years	Past 10 years
Class A (incl. 5.75% sales charge)	23.14%	12.45%	11.89%
Class M (incl. 3.50% sales charge)	25.71%	12.68%	11.86%
Class C (incl. contingent deferred sales charge)	28.62%	12.94%	11.88%
Class I	31.04%	14.15%	12.91%

Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Global Capital Appreciation Fund - Class A on October 31, 2011, and the current 5.75% sales charge was paid.

The chart shows how the value of your investment would have changed, and also shows how the MSCI ACWI (All Country World Index) Index performed over the same period.

	Period Ending Values
	$30,764	Fidelity Advisor® Global Capital Appreciation Fund - Class A
	$30,364	MSCI ACWI (All Country World Index) Index

Management's Discussion of Fund Performance

Market Recap: The MSCI ACWI (All Country World Index) Index gained 37.70% for the 12 months ending October 31, 2021, with global equities rising amid improved global economic growth, widespread COVID-19 vaccination, fiscal stimulus in the U.S. and abroad, and government spending programs. The period began with a shift in momentum. In November 2020, global stocks shrugged off a two-month retreat by gaining roughly 12%. As 2021 began, the index recorded steady monthly gains. As part of the economic “reopening” trade, investors generally moved out of tech-driven mega-caps that had thrived due to the work-from-home trend in favor of cheap, smaller companies they believed stood to benefit from a broad cyclical recovery. In early September, sentiment turned broadly negative and the index returned -4.10% for the month, due to inflationary pressure from surging energy/other commodity prices, rising bond yields, supply constraints and disruption, valuation concerns, and the fast-spreading delta variant of the coronavirus. The index rebounded in October (+5.12%) amid strength in corporate earnings and notable improvement in the global economy. By region, Canada (+50%) led the way, whereas emerging markets (+17%) lagged the most. Looking at sectors, energy (+87%) was the top performer by a wide margin, followed by financials (+60%). In contrast, notable “laggards” included the utilities (+14%) and consumer staples (+18%) sectors.

Comments from Portfolio Manager Bill Bower: For the fiscal year ending October 31, 2021, the fund's share classes (excluding sales charges, if applicable) gained roughly 30% to 31%, underperforming the 37.70% result of the benchmark MSCI AC World (Net MA) Linked Index. From a regional standpoint, stock picks in the U.S. and emerging markets hurt the fund's relative result. By sector, the primary detractor from performance versus the benchmark was our stock picks in consumer discretionary. Stock selection and an underweighting in financials and security selection in health care also hurt. The biggest individual relative detractor was an overweight position in Cellnex Telecom (-17%), which was a stake that was not held at the end of this period. A second notable relative detractor was our overweighting in New Oriental Education & Technology Group (-51%), a position that was sold the past year. Another notable relative detractor was an overweighting in Tencent Holdings (-14%), a position we pared this period. Conversely, positioning in Japan and the U.K. contributed most to the fund's relative result. By sector, the primary contributor to performance versus the benchmark was our stock picks in communication services, especially within the media & entertainment industry. Strong picks in information technology also bolstered the fund's relative performance. Also bolstering the fund's relative performance was an underweighting and security selection in consumer staples, primarily driven by the food, beverage & tobacco industry. Our top individual relative contributor was an out-of-benchmark stake in S4 Capital (+93%), which was among the fund's biggest holdings. Also bolstering performance was our outsized stake in Nvidia, which gained about 104%. Nvidia was among our largest holdings. Another key contributor was our out-of-benchmark position in Darling Ingredients (+93%).

Investment Summary (Unaudited)

Top Five Stocks as of October 31, 2021

	% of fund's net assets
Microsoft Corp. (United States of America, Software)	6.6
Alphabet, Inc. Class A (United States of America, Interactive Media & Services)	5.2
NVIDIA Corp. (United States of America, Semiconductors & Semiconductor Equipment)	4.4
Amazon.com, Inc. (United States of America, Internet & Direct Marketing Retail)	4.2
S4 Capital PLC (United Kingdom, Media)	4.1
	24.5

Top Five Market Sectors as of October 31, 2021

	% of fund's net assets
Information Technology	27.6
Communication Services	15.3
Financials	14.9
Consumer Discretionary	13.1
Industrials	9.9

Top Five Countries as of October 31, 2021

(excluding cash equivalents)	% of fund's net assets
United States of America	57.6
United Kingdom	6.7
India	6.4
France	6.0
Japan	3.6

Asset Allocation (% of fund's net assets)

As of October 31, 2021
	Stocks	95.8%
	Short-Term Investments and Net Other Assets (Liabilities)	4.2%

Schedule of Investments October 31, 2021

Showing Percentage of Net Assets

Common Stocks - 94.4%
	Shares	Value
Australia - 1.4%
Lynas Rare Earths Ltd. (a)	301,955	$1,664,978
Canada - 1.2%
Canadian Natural Resources Ltd. (b)	35,300	1,500,603
Cayman Islands - 1.5%
Alibaba Group Holding Ltd. sponsored ADR (a)	3,600	593,784
Tencent Holdings Ltd.	19,600	1,192,264

TOTAL CAYMAN ISLANDS		1,786,048

Cyprus - 0.0%
Phoenix Vega Mezz PLC (a)	36,700	1,986
Denmark - 1.5%
DSV A/S	7,800	1,812,727
France - 6.0%
LVMH Moet Hennessy Louis Vuitton SE	3,800	2,979,662
Sartorius Stedim Biotech	4,300	2,367,095
Teleperformance	4,600	1,920,185

TOTAL FRANCE		7,266,942

Greece - 0.4%
Piraeus Financial Holdings SA (a)	260,645	442,919
Hong Kong - 1.1%
AIA Group Ltd.	122,400	1,371,738
India - 6.4%
Axis Bank Ltd. (a)	168,400	1,667,038
Kotak Mahindra Bank Ltd. (a)	93,544	2,534,880
Reliance Industries Ltd.	54,900	1,857,650
TCNS Clothing Co. Ltd. (a)(c)	161,500	1,613,492

TOTAL INDIA		7,673,060

Ireland - 2.2%
Accenture PLC Class A	7,500	2,690,925
Japan - 3.6%
Hitachi Ltd.	29,200	1,682,637
Hoya Corp.	9,300	1,369,040
Keyence Corp.	2,200	1,327,953

TOTAL JAPAN		4,379,630

Netherlands - 0.6%
NXP Semiconductors NV	3,300	662,838
Switzerland - 2.9%
Roche Holding AG (participation certificate)	5,070	1,964,089
Sika AG	4,450	1,506,662

TOTAL SWITZERLAND		3,470,751

Taiwan - 1.8%
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	18,500	2,103,450
United Kingdom - 6.7%
Discoverie Group PLC	125,075	1,790,453
Harbour Energy PLC (a)	157,100	755,507
London Stock Exchange Group PLC	2,300	223,891
Prudential PLC (Hong Kong) (a)	11,500	233,533
S4 Capital PLC (a)	500,932	4,977,097
Starling Bank Ltd. Series D (a)(d)(e)	65,300	115,671

TOTAL UNITED KINGDOM		8,096,152

United States of America - 57.1%
Adobe, Inc. (a)	3,300	2,146,188
Alphabet, Inc. Class A (a)	2,100	6,217,932
Amazon.com, Inc. (a)	1,485	5,008,059
American Express Co.	16,200	2,815,236
AMETEK, Inc.	20,300	2,687,720
Apple, Inc.	20,500	3,070,900
Booking Holdings, Inc. (a)	700	1,694,546
Cintas Corp.	4,700	2,035,570
Darling Ingredients, Inc. (a)	19,400	1,639,688
Deckers Outdoor Corp. (a)	8,100	3,202,011
Halliburton Co.	59,300	1,481,907
Intercontinental Exchange, Inc.	13,300	1,841,518
Interpublic Group of Companies, Inc.	49,100	1,795,587
Intuit, Inc.	2,700	1,690,173
Lam Research Corp.	3,800	2,141,566
Marvell Technology, Inc.	11,400	780,900
MasterCard, Inc. Class A	6,600	2,214,432
Meta Platforms, Inc. Class A (a)	13,000	4,206,410
Microsoft Corp.	23,800	7,892,553
NVIDIA Corp.	20,800	5,317,936
S&P Global, Inc.	5,300	2,513,048
Stryker Corp.	7,500	1,995,525
The Travelers Companies, Inc.	7,800	1,254,864
Wells Fargo & Co.	57,700	2,951,932

TOTAL UNITED STATES OF AMERICA		68,596,201

TOTAL COMMON STOCKS
(Cost $72,742,713)		113,520,948

Preferred Stocks - 1.4%
Convertible Preferred Stocks - 0.5%
United States of America - 0.5%
Wasabi Holdings, Inc. Series C (d)(e)	50,623	549,999
Nonconvertible Preferred Stocks - 0.9%
Korea (South) - 0.9%
Samsung Electronics Co. Ltd.	20,000	1,093,089
TOTAL PREFERRED STOCKS
(Cost $1,281,810)		1,643,088

Money Market Funds - 4.8%
Fidelity Cash Central Fund 0.06% (f)	4,677,754	4,678,689
Fidelity Securities Lending Cash Central Fund 0.06% (f)(g)	1,086,691	1,086,800
TOTAL MONEY MARKET FUNDS
(Cost $5,765,489)		5,765,489
TOTAL INVESTMENT IN SECURITIES - 100.6%
(Cost $79,790,012)		120,929,525
NET OTHER ASSETS (LIABILITIES) - (0.6)%		(724,037)
NET ASSETS - 100%		$120,205,488

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

(a) Non-income producing

(b) Security or a portion of the security is on loan at period end.

(e) Level 3 security

(g) Investment made with cash collateral received from securities on loan.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
Starling Bank Ltd. Series D	6/18/21	$116,749
Wasabi Holdings, Inc. Series C	3/31/21 - 4/30/21	$549,998

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Fund	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Realized Gain/Loss	Change in Unrealized appreciation (depreciation)	Value, end of period	% ownership, end of period
Fidelity Cash Central Fund 0.06%	$2,967,060	$39,380,950	$37,669,321	$1,820	$--	$--	$4,678,689	0.0%
Fidelity Securities Lending Cash Central Fund 0.06%	226,436	6,055,633	5,195,269	303	--	--	1,086,800	0.0%
Total	$3,193,496	$45,436,583	$42,864,590	$2,123	$--	$--	$5,765,489

Investment Valuation

	Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Communication Services	$18,389,290	$17,197,026	$1,192,264	$--
Consumer Discretionary	15,641,553	12,111,892	2,979,662	549,999
Consumer Staples	1,639,688	1,639,688	--	--
Energy	5,595,667	5,595,667	--	--
Financials	17,968,254	16,256,954	1,595,629	115,671
Health Care	7,695,749	4,362,620	3,333,129	--
Industrials	11,929,292	10,246,655	1,682,637	--
Information Technology	33,132,903	30,711,861	2,421,042	--
Materials	3,171,640	3,171,640	--	--
Money Market Funds	5,765,489	5,765,489	--	--
Total Investments in Securities:	$120,929,525	$107,059,492	$13,204,363	$665,670

See accompanying notes which are an integral part of the financial statements.

Financial Statements

Statement of Assets and Liabilities

		October 31, 2021
Assets
Investment in securities, at value (including securities loaned of $1,049,997) — See accompanying schedule: Unaffiliated issuers (cost $74,024,523)	$115,164,036
Fidelity Central Funds (cost $5,765,489)	5,765,489
Total Investment in Securities (cost $79,790,012)		$120,929,525
Receivable for investments sold		2,117,686
Receivable for fund shares sold		35,846
Dividends receivable		41,154
Reclaims receivable		62,477
Distributions receivable from Fidelity Central Funds		153
Prepaid expenses		150
Other receivables		45,933
Total assets		123,232,924
Liabilities
Payable to custodian bank	$263
Payable for investments purchased	1,688,377
Payable for fund shares redeemed	71,150
Accrued management fee	64,982
Distribution and service plan fees payable	23,995
Other affiliated payables	21,067
Other payables and accrued expenses	70,802
Collateral on securities loaned	1,086,800
Total liabilities		3,027,436
Net Assets		$120,205,488
Net Assets consist of:
Paid in capital		$70,435,764
Total accumulated earnings (loss)		49,769,724
Net Assets		$120,205,488
Net Asset Value and Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($40,398,043 ÷ 1,668,753 shares)^(a)		$24.21
Maximum offering price per share (100/94.25 of $24.21)		$25.69
Class M:
Net Asset Value and redemption price per share ($22,617,518 ÷ 989,901 shares)^(a)		$22.85
Maximum offering price per share (100/96.50 of $22.85)		$23.68
Class C:
Net Asset Value and offering price per share ($8,043,981 ÷ 401,408 shares)^(a)		$20.04
Class I:
Net Asset Value, offering price and redemption price per share ($49,145,946 ÷ 1,908,486 shares)		$25.75

(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Statement of Operations

		Year ended October 31, 2021
Investment Income
Dividends		$800,783
Special dividends		87,027
Income from Fidelity Central Funds (including $303 from security lending)		2,123
Income before foreign taxes withheld		889,933
Less foreign taxes withheld		(65,466)
Total income		824,467
Expenses
Management fee
Basic fee	$762,071
Performance adjustment	(172,452)
Transfer agent fees	205,204
Distribution and service plan fees	286,175
Accounting fees	43,865
Custodian fees and expenses	8,186
Independent trustees' fees and expenses	440
Registration fees	56,653
Audit	73,995
Legal	7,246
Miscellaneous	534
Total expenses before reductions	1,271,917
Expense reductions	(1,840)
Total expenses after reductions		1,270,077
Net investment income (loss)		(445,610)
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	12,387,972
Foreign currency transactions	6,962
Total net realized gain (loss)		12,394,934
Change in net unrealized appreciation (depreciation) on:
Investment securities:
Unaffiliated issuers (net of increase in deferred foreign taxes of $15,085)	17,309,977
Assets and liabilities in foreign currencies	(2,618)
Total change in net unrealized appreciation (depreciation)		17,307,359
Net gain (loss)		29,702,293
Net increase (decrease) in net assets resulting from operations		$29,256,683

See accompanying notes which are an integral part of the financial statements.

Statement of Changes in Net Assets

	Year ended October 31, 2021	Year ended October 31, 2020
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$(445,610)	$(445,493)
Net realized gain (loss)	12,394,934	(830,026)
Change in net unrealized appreciation (depreciation)	17,307,359	16,864,982
Net increase (decrease) in net assets resulting from operations	29,256,683	15,589,463
Distributions to shareholders	–	(414,235)
Share transactions - net increase (decrease)	(6,655,855)	(15,834,942)
Total increase (decrease) in net assets	22,600,828	(659,714)
Net Assets
Beginning of period	97,604,660	98,264,374
End of period	$120,205,488	$97,604,660

See accompanying notes which are an integral part of the financial statements.

Financial Highlights

Fidelity Advisor Global Capital Appreciation Fund Class A

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$18.53	$15.65	$16.48	$20.21	$16.18
Income from Investment Operations
Net investment income (loss)^A	(.09)^B	(.08)	.10	.05	.05
Net realized and unrealized gain (loss)	5.77	3.03	.50	(1.22)	4.15
Total from investment operations	5.68	2.95	.60	(1.17)	4.20
Distributions from net investment income	–	(.07)	(.02)	(.04)	–
Distributions from net realized gain	–	–	(1.41)	(2.52)	(.17)
Total distributions	–	(.07)	(1.43)	(2.56)	(.17)
Redemption fees added to paid in capital^A	–	–	–	–^C	–^C
Net asset value, end of period	$24.21	$18.53	$15.65	$16.48	$20.21
Total Return^D,^E	30.65%	18.89%	4.39%	(6.74)%	26.17%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.15%	1.23%	1.14%	1.39%	1.48%
Expenses net of fee waivers, if any	1.15%	1.23%	1.14%	1.39%	1.45%
Expenses net of all reductions	1.15%	1.21%	1.14%	1.37%	1.44%
Net investment income (loss)	(.42)%^B	(.45)%	.66%	.26%	.28%
Supplemental Data
Net assets, end of period (000 omitted)	$40,398	$31,247	$30,046	$33,589	$38,710
Portfolio turnover rate^H	58%	44%	142%	99%	137%

^A Calculated based on average shares outstanding during the period.

^B Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.02 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.50) %.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the sales charges.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Global Capital Appreciation Fund Class M

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$17.54	$14.82	$15.70	$19.37	$15.56
Income from Investment Operations
Net investment income (loss)^A	(.14)^B	(.12)	.05	–	.01
Net realized and unrealized gain (loss)	5.45	2.87	.48	(1.15)	3.97
Total from investment operations	5.31	2.75	.53	(1.15)	3.98
Distributions from net investment income	–	(.03)	–	–	–
Distributions from net realized gain	–	–	(1.41)	(2.52)	(.17)
Total distributions	–	(.03)	(1.41)	(2.52)	(.17)
Redemption fees added to paid in capital^A	–	–	–	–^C	–^C
Net asset value, end of period	$22.85	$17.54	$14.82	$15.70	$19.37
Total Return^D,^E	30.27%	18.59%	4.10%	(6.97)%	25.80%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.41%	1.51%	1.43%	1.67%	1.77%
Expenses net of fee waivers, if any	1.41%	1.50%	1.43%	1.67%	1.70%
Expenses net of all reductions	1.41%	1.49%	1.42%	1.65%	1.69%
Net investment income (loss)	(.68)%^B	(.73)%	.37%	(.01)%	.03%
Supplemental Data
Net assets, end of period (000 omitted)	$22,618	$18,864	$18,611	$21,339	$25,535
Portfolio turnover rate^H	58%	44%	142%	99%	137%

^A Calculated based on average shares outstanding during the period.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the sales charges.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Global Capital Appreciation Fund Class C

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$15.46	$13.10	$14.11	$17.65	$14.26
Income from Investment Operations
Net investment income (loss)^A	(.22)^B	(.17)	(.01)	(.08)	(.07)
Net realized and unrealized gain (loss)	4.80	2.53	.41	(1.02)	3.63
Total from investment operations	4.58	2.36	.40	(1.10)	3.56
Distributions from net investment income	–	–	–	–	–
Distributions from net realized gain	–	–	(1.41)	(2.44)	(.17)
Total distributions	–	–	(1.41)	(2.44)	(.17)
Redemption fees added to paid in capital^A	–	–	–	–^C	–^C
Net asset value, end of period	$20.04	$15.46	$13.10	$14.11	$17.65
Total Return^D,^E	29.62%	18.02%	3.59%	(7.39)%	25.20%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.92%	1.99%	1.90%	2.14%	2.23%
Expenses net of fee waivers, if any	1.92%	1.98%	1.90%	2.14%	2.20%
Expenses net of all reductions	1.92%	1.97%	1.89%	2.12%	2.19%
Net investment income (loss)	(1.19)%^B	(1.21)%	(.10)%	(.48)%	(.47)%
Supplemental Data
Net assets, end of period (000 omitted)	$8,044	$9,134	$12,540	$19,741	$24,215
Portfolio turnover rate^H	58%	44%	142%	99%	137%

^A Calculated based on average shares outstanding during the period.

^B Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.01 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (1.27) %.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the contingent deferred sales charge.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Global Capital Appreciation Fund Class I

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$19.65	$16.57	$17.37	$21.16	$16.90
Income from Investment Operations
Net investment income (loss)^A	(.02)^B	(.02)	.16	.11	.11
Net realized and unrealized gain (loss)	6.12	3.21	.52	(1.28)	4.33
Total from investment operations	6.10	3.19	.68	(1.17)	4.44
Distributions from net investment income	–	(.11)	(.08)	(.10)	–
Distributions from net realized gain	–	–	(1.41)	(2.52)	(.18)
Total distributions	–	(.11)	(1.48)^C	(2.62)	(.18)
Redemption fees added to paid in capital^A	–	–	–	–^D	–^D
Net asset value, end of period	$25.75	$19.65	$16.57	$17.37	$21.16
Total Return^E	31.04%	19.37%	4.69%	(6.45)%	26.52%
Ratios to Average Net Assets^F,^G
Expenses before reductions	.82%	.89%	.82%	1.09%	1.16%
Expenses net of fee waivers, if any	.82%	.89%	.82%	1.09%	1.16%
Expenses net of all reductions	.82%	.87%	.82%	1.07%	1.15%
Net investment income (loss)	(.09)%^B	(.11)%	.97%	.57%	.57%
Supplemental Data
Net assets, end of period (000 omitted)	$49,146	$38,359	$37,068	$45,029	$50,881
Portfolio turnover rate^H	58%	44%	142%	99%	137%

^A Calculated based on average shares outstanding during the period.

^C Total distributions per share do not sum due to rounding.

^D Amount represents less than $.005 per share.

^E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Notes to Financial Statements

For the period ended October 31, 2021

1. Organization.

Fidelity Advisor Global Capital Appreciation Fund (the Fund) is a fund of Fidelity Advisor Series VIII (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C and Class I shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Effective June 21, 2021, Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. Prior to June 21, 2021, Class C shares automatically converted to Class A shares after a holding period of ten years from the initial date of purchase, with certain exceptions.

2. Investments in Fidelity Central Funds.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense Ratio^(a)
Fidelity Money Market Central Funds	Fidelity Management & Research Company LLC (FMR)	Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.	Short-term Investments	Less than .005%

(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

3. Significant Accounting Policies.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 – quoted prices in active markets for identical investments
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Large, non-recurring dividends recognized by the Fund are presented separately on the Statement of Operations as both "Special Dividends" and the impact of these dividends is presented in the Financial Highlights. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.

Book-tax differences are primarily due to foreign currency transactions, net operating losses, capital loss carryforwards and losses deferred due to wash sales and excise tax regulations.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$41,354,006
Gross unrealized depreciation	(253,276)
Net unrealized appreciation (depreciation)	$41,100,730
Tax Cost	$79,828,795

The tax-based components of distributable earnings as of period end were as follows:

Undistributed long-term capital gain	$9,065,229
Net unrealized appreciation (depreciation) on securities and other investments	$41,072,098

The fund intends to elect to defer to its next fiscal year $352,516 of ordinary losses recognized during the period January 1, 2021 to October 31, 2021.

The tax character of distributions paid was as follows:

	October 31, 2021	October 31, 2020
Ordinary Income	$–	$ 414,235

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Advisor Global Capital Appreciation Fund	62,763,404	72,483,072

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .45% of the Fund's average net assets and an annualized group fee rate that averaged .23% during the period. The group fee rate is based upon the monthly average net assets of a group of registered investment companies with which the investment adviser has management contracts. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of +/-.20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of Class I of the Fund as compared to its benchmark index, the MSCI All Country World Index, over the same 36 month performance period. For the reporting period, the total annual management fee rate, including the performance adjustment, was .52% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

	Distribution Fee	Service Fee	Total Fees	Retained by FDC
Class A	-%	.25%	$92,141	$1,208
Class M	.25%	.25%	107,162	813
Class C	.75%	.25%	86,872	6,354
			$286,175	$8,375

For the period, sales charge amounts retained by FDC were as follows:

	Retained by FDC
Class A	$8,347
Class M	1,429
Class C^(a)	115
	$9,891

(a) When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company LLC (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
Class A	$78,292	.21
Class M	47,370	.22
Class C	19,734	.23
Class I	59,808	.13
	$205,204

	% of Average Net Assets
Fidelity Advisor Global Capital Appreciation Fund	.04

	Amount
Fidelity Advisor Global Capital Appreciation Fund	$738

	Purchases ($)	Sales ($)	Realized Gain (Loss) ($)
Fidelity Advisor Global Capital Appreciation Fund	1,706,299	4,667,421	434,936

6. Committed Line of Credit.

	Amount
Fidelity Advisor Global Capital Appreciation Fund	$200

7. Security Lending.

	Total Security Lending Fees Paid to NFS	Security Lending Income From Securities Loaned to NFS	Value of Securities Loaned to NFS at Period End
Fidelity Advisor Global Capital Appreciation Fund	$20	$–	$–

8. Expense Reductions.

In addition, during the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $1,822.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Global Capital Appreciation Fund
Distributions to shareholders
Class A	$–	$124,469
Class M	–	38,315
Class I	–	251,451
Total	$–	$414,235

10. Share Transactions.

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

	Shares	Shares	Dollars	Dollars
	Year ended October 31, 2021	Year ended October 31, 2020	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Global Capital Appreciation Fund
Class A
Shares sold	306,788	195,509	$6,747,703	$3,319,193
Reinvestment of distributions	–	7,586	–	122,204
Shares redeemed	(324,095)	(437,074)	(7,086,089)	(6,973,542)
Net increase (decrease)	(17,307)	(233,979)	$(338,386)	$(3,532,145)
Class M
Shares sold	62,615	63,841	$1,290,422	$1,001,511
Reinvestment of distributions	–	2,496	–	38,135
Shares redeemed	(148,393)	(246,623)	(3,082,706)	(3,763,269)
Net increase (decrease)	(85,778)	(180,286)	$(1,792,284)	$(2,723,623)
Class C
Shares sold	50,046	49,916	$925,839	$699,239
Shares redeemed	(239,505)	(416,424)	(4,335,944)	(5,800,548)
Net increase (decrease)	(189,459)	(366,508)	$(3,410,105)	$(5,101,309)
Class I
Shares sold	259,945	466,353	$5,994,641	$7,964,598
Reinvestment of distributions	–	14,002	–	238,453
Shares redeemed	(303,759)	(764,465)	(7,109,721)	(12,680,916)
Net increase (decrease)	(43,814)	(284,110)	$(1,115,080)	$(4,477,865)

11. Other.

12. Coronavirus (COVID-19) Pandemic.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Advisor Series VIII and Shareholders of Fidelity Advisor Global Capital Appreciation Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity Advisor Global Capital Appreciation Fund (one of the funds constituting Fidelity Advisor Series VIII, referred to hereafter as the “Fund”) as of October 31, 2021, the related statement of operations for the year ended October 31, 2021, the statement of changes in net assets for each of the two years in the period ended October 31, 2021, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2021 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2021, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2021 and the financial highlights for each of the five years in the period ended October 31, 2021 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

December 14, 2021

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

Trustees and Officers

The fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-877-208-0098.

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Bettina Doulton (1964)

Year of Election or Appointment: 2021

Trustee

Robert A. Lawrence (1952)

Year of Election or Appointment: 2020

Trustee

Acting Chairman of the Board of Trustees

* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Thomas P. Bostick (1956)

Year of Election or Appointment: 2021

Trustee

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Vicki L. Fuller (1957)

Year of Election or Appointment: 2020

Trustee

Patricia L. Kampling (1959)

Year of Election or Appointment: 2020

Trustee

Thomas A. Kennedy (1955)

Year of Election or Appointment: 2021

Trustee

Oscar Munoz (1959)

Year of Election or Appointment: 2021

Trustee

Garnett A. Smith (1947)

Year of Election or Appointment: 2018

Trustee

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Lead Independent Trustee

Susan Tomasky (1953)

Year of Election or Appointment: 2020

Trustee

Michael E. Wiley (1950)

Year of Election or Appointment: 2020

Trustee

Advisory Board Members and Officers:

Name, Year of Birth; Principal Occupation

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Craig S. Brown (1977)

Year of Election or Appointment: 2019

Assistant Treasurer

Mr. Brown also serves as an officer of other funds. Mr. Brown serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2013-present).

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

William C. Coffey (1969)

Year of Election or Appointment: 2019

Assistant Secretary

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Colm A. Hogan (1973)

Year of Election or Appointment: 2020

Assistant Treasurer

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Cynthia Lo Bessette (1969)

Year of Election or Appointment: 2019

Secretary and Chief Legal Officer (CLO)

Chris Maher (1972)

Year of Election or Appointment: 2020

Deputy Treasurer

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2020

Chief Compliance Officer

Brett Segaloff (1972)

Year of Election or Appointment: 2021

Anti-Money Laundering (AML) Officer

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Jim Wegmann (1979)

Year of Election or Appointment: 2019

Assistant Treasurer

Shareholder Expense Example

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2021 to October 31, 2021).

Actual Expenses

Hypothetical Example for Comparison Purposes

	Annualized Expense Ratio-^A	Beginning Account Value May 1, 2021	Ending Account Value October 31, 2021	Expenses Paid During Period-^B May 1, 2021 to October 31, 2021
Fidelity Advisor Global Capital Appreciation Fund
Class A	1.14%
Actual		$1,000.00	$1,090.50	$6.01
Hypothetical-^C		$1,000.00	$1,019.46	$5.80
Class M	1.39%
Actual		$1,000.00	$1,089.10	$7.32
Hypothetical-^C		$1,000.00	$1,018.20	$7.07
Class C	1.90%
Actual		$1,000.00	$1,086.20	$9.99
Hypothetical-^C		$1,000.00	$1,015.63	$9.65
Class I	.81%
Actual		$1,000.00	$1,092.00	$4.27
Hypothetical-^C		$1,000.00	$1,021.12	$4.13

^A Annualized expense ratio reflects expenses net of applicable fee waivers.

^C 5% return per year before expenses

Distributions (Unaudited)

The Board of Trustees of Fidelity Advisor Global Capital Appreciation Fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities:

	Pay Date	Record Date	Capital Gains
Fidelity Advisor Global Capital Appreciation Fund
Class A	12/06/21	12/03/21	$1.826
Class M	12/06/21	12/03/21	$1.826
Class C	12/06/21	12/03/21	$1.826
Class I	12/06/21	12/03/21	$1.826

The fund hereby designates as a capital gain dividend with respect to the taxable year ended October 31, 2021, $9,940,828, or, if subsequently determined to be different, the net capital gain of such year.

The fund will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Advisor Global Capital Appreciation Fund

Investment Performance. The Board considered whether the fund has operated in accordance with its investment objective, as well as its record of compliance with its investment restrictions and its performance history. The Board noted that there were portfolio management changes for the fund in August 2019 and October 2019. The Board will continue to monitor closely the fund's performance, taking into account the portfolio management changes.

Fidelity Advisor Global Capital Appreciation Fund

The Board also considered that the fund's management fee is subject to upward or downward adjustment depending upon whether, and to what extent, the fund's investment performance for the performance period (a rolling 36-month period) exceeds, or is exceeded by, a securities index, thus leading to a performance adjustment for the same period. The Board noted that the performance adjustment provides FMR with a strong economic incentive to seek to achieve superior long-term performance for the fund's shareholders and helps to more closely align the interests of FMR and the shareholders of the fund.

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

Management Fee. The Board considered two proprietary management fee comparisons for the 12-month periods ended September 30 (June 30 for periods ended 2019 and 2018 and December 31 for periods prior to 2018) shown in basis points (BP) in the chart below. The group of Lipper funds used by the Board for management fee comparisons is referred to below as the "Total Mapped Group." The Total Mapped Group comparison focuses on a fund's standing in terms of gross management fees before expense reimbursements or caps, and without giving effect to the fund's performance adjustment, relative to the total universe of funds with comparable investment mandates, regardless of whether their management fee structures also are comparable. Funds with comparable investment mandates offer exposure to similar types of securities. Funds with comparable management fee structures have similar management fee contractual arrangements (e.g., flat rate charged for advisory services, all-inclusive fee rate, etc.). "TMG %" represents the percentage of funds in the Total Mapped Group that had management fees that were lower than the fund's. For example, a hypothetical TMG % of 20% would mean that 80% of the funds in the Total Mapped Group had higher, and 20% had lower, management fees than the fund. The fund's actual TMG %s and the number of funds in the Total Mapped Group are in the chart below. The "Asset-Sized Peer Group" (ASPG) comparison focuses on a fund's standing relative to a subset of non-Fidelity funds within the Total Mapped Group that are similar in size and management fee structure without taking into account performance adjustments, if any. For example, if a fund is in the first quartile of the ASPG, the fund's management fee ranks in the least expensive or lowest 25% of funds in the ASPG. The ASPG represents at least 15% of the funds in the Total Mapped Group with comparable asset size and management fee structures, subject to a minimum of 50 funds (or all funds in the Total Mapped Group if fewer than 50). Additional information, such as the ASPG quartile in which the fund's management fee rate ranked and the impact of the fund's performance adjustment, is also included in the chart and was considered by the Board.

Fidelity Advisor Global Capital Appreciation Fund

The Board noted that the fund's management fee rate ranked below the median of its Total Mapped Group and below the median of its ASPG for the 12-month period ended September 30, 2020. The Board also noted the effect of the fund's performance adjustment, if any, on the fund's management fee ranking.

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

Total Expense Ratio. In its review of each class's total expense ratio, the Board considered the fund's management fee rate as well as other fund or class expenses, as applicable, such as transfer agent fees, pricing and bookkeeping fees, fund-paid 12b-1 fees, and custodial, legal, and audit fees. The Board noted the impact of the fund's performance adjustment. The Board also noted that Fidelity may agree to waive fees or reimburse expenses from time to time, and the extent to which, if any, it has done so for the fund. As part of its review, the Board also considered the current and historical total expense ratios of each class of the fund compared to competitive fund median expenses. The fund's representative class is compared to those funds and classes in the Total Mapped Group (used by the Board for management fee comparisons) that have a similar sales load structure (SLTG). The Board also considered a total expense ASPG comparison for the representative class, which focuses on the total expenses of the representative class relative to a subset of non-Fidelity funds within the total expense SLTG. The total expense ASPG is limited to 15 larger and 15 smaller classes in fund average assets for a total of 30 classes, where possible. The total expense ASPG comparison excludes performance adjustments and fund-paid 12b-1 fees to eliminate variability in fee structures.

The Board noted that the total expense ratio of Class I ranked below the SLTG competitive median and above the ASPG competitive median for the 12-month period ended September 30, 2020. The Board considered that, in general, various factors can affect total expense ratios. The Board also noted that the total expense ratios of the classes vary primarily by the level of their 12b-1 fees, although differences in transfer agent fees may also cause expenses to vary from class to class.

The Board further considered that FMR has contractually agreed to reimburse Class A, Class M, Class C, and Class I of the fund to the extent that total operating expenses, with certain exceptions, as a percentage of their respective average net assets, exceed 1.45%, 1.70%, 2.20%, and 1.20% through February 28, 2022.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Fidelity Investments

AGLO-ANN-1221
1.728713.122

Fidelity Advisor® Global Equity Income Fund

Annual Report

October 31, 2021

Contents

Note to Shareholders
Performance
Management's Discussion of Fund Performance
Investment Summary
Schedule of Investments
Financial Statements
Notes to Financial Statements
Report of Independent Registered Public Accounting Firm
Trustees and Officers
Shareholder Expense Example
Distributions
Board Approval of Investment Advisory Contracts and Management Fees

You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Note to Shareholders:

Performance: The Bottom Line

Average Annual Total Returns

For the periods ended October 31, 2021	Past 1 year	Past 5 years	Life of fund^A
Class A (incl. 5.75% sales charge)	26.51%	11.99%	10.28%
Class M (incl. 3.50% sales charge)	29.21%	12.23%	10.28%
Class C (incl. contingent deferred sales charge)	32.22%	12.47%	10.27%
Class I	34.59%	13.60%	11.24%
Class Z	34.75%	13.71%	11.30%

^A From May 2, 2012

Class C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.

The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018, are those of Class I.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Global Equity Income Fund - Class A on May 2, 2012, when the fund started, and the current 5.75% sales charge was paid.

The chart shows how the value of your investment would have changed, and also shows how the MSCI ACWI (All Country World Index) Index performed over the same period.

	Period Ending Values
	$25,338	Fidelity Advisor® Global Equity Income Fund - Class A
	$28,333	MSCI ACWI (All Country World Index) Index

Management's Discussion of Fund Performance

Comments from Portfolio Manager Ramona Persaud: For the fiscal year ending October 31, 2021, the fund's share classes (excluding sales charges, if applicable) gained about 33% to 35%, trailing the 37.70% result of the benchmark MSCI All Country World Index (Net MA). From a regional standpoint, security selection in the U.K. and emerging markets detracted from the fund's relative result. By sector, the largest detractor from performance versus the benchmark was security selection in communication services. An overweighting in consumer staples and stock picks in energy also hampered the fund's relative result. Lastly, the fund's position in cash was a notable detractor. Not owning Tesla, a benchmark component that gained 187%, was the largest individual relative detractor. Our second-largest relative detractor this period was avoiding Alphabet, a benchmark component that gained 83%. Also hindering performance was our outsized stake in Amgen, which returned -2%. In contrast, an underweighting in emerging markets, primarily driven by China, and stock picks in Canada contributed most to the fund's relative result. By sector, the top contributor to performance versus the benchmark was stock selection in consumer discretionary. Strong picks in the industrials sector, primarily driven by the transportation industry, also boosted the fund's relative result. Also helping the fund's relative performance was an overweighting in energy. Not owning Alibaba Group Holding, a benchmark component that returned -45%, was the biggest individual relative contributor. Our second-largest relative contributor this period was avoiding Amazon.com, a benchmark component that gained 11%. Another notable relative contributor was an overweighting in Capital One Financial (+109%).

Investment Summary (Unaudited)

Top Five Stocks as of October 31, 2021

	% of fund's net assets
Apple, Inc. (United States of America, Technology Hardware, Storage & Peripherals)	4.2
Microsoft Corp. (United States of America, Software)	4.1
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment)	1.7
Accenture PLC Class A (Ireland, IT Services)	1.4
Wells Fargo & Co. (United States of America, Banks)	1.4
	12.8

Top Five Market Sectors as of October 31, 2021

	% of fund's net assets
Information Technology	19.8
Health Care	11.5
Financials	11.0
Industrials	9.8
Consumer Staples	8.4

Top Five Countries as of October 31, 2021

(excluding cash equivalents)	% of fund's net assets
United States of America	44.2
United Kingdom	7.0
Japan	6.2
Canada	4.4
France	4.2

Asset Allocation (% of fund's net assets)

As of October 31, 2021
	Stocks	91.0%
	Short-Term Investments and Net Other Assets (Liabilities)	9.0%

Schedule of Investments October 31, 2021

Showing Percentage of Net Assets

Common Stocks - 91.0%
	Shares	Value
Bailiwick of Guernsey - 0.4%
Amdocs Ltd.	1,998	$155,524
Bailiwick of Jersey - 0.7%
Experian PLC	1,200	54,966
WPP PLC	12,626	182,506

TOTAL BAILIWICK OF JERSEY		237,472

Belgium - 0.6%
KBC Groep NV	1,524	141,926
UCB SA	530	63,167

TOTAL BELGIUM		205,093

Bermuda - 0.3%
Hiscox Ltd.	8,293	94,540
Brazil - 0.4%
Equatorial Energia SA	34,581	140,192
Canada - 4.4%
Alimentation Couche-Tard, Inc. Class B (sub. vtg.)	4,667	175,050
Canadian Natural Resources Ltd.	5,001	212,551
Constellation Software, Inc.	110	193,317
Imperial Oil Ltd.	6,280	212,615
Lundin Mining Corp.	8,880	77,277
Nutrien Ltd.	1,566	109,453
Open Text Corp.	3,335	167,990
Shaw Communications, Inc. Class B	4,043	116,429
Suncor Energy, Inc.	9,478	249,280

TOTAL CANADA		1,513,962

Cayman Islands - 1.1%
51job, Inc. sponsored ADR (a)	1,200	71,472
HKBN Ltd.	219,452	263,438
SITC International Holdings Co. Ltd.	11,320	38,337

TOTAL CAYMAN ISLANDS		373,247

China - 0.7%
Kweichow Moutai Co. Ltd. (A Shares)	565	161,064
TravelSky Technology Ltd. (H Shares)	34,577	64,706

TOTAL CHINA		225,770

Denmark - 0.1%
A.P. Moller - Maersk A/S Series B	16	46,367
Finland - 0.9%
Elisa Corp. (A Shares)	5,256	317,042
France - 4.2%
Capgemini SA	1,692	393,733
Edenred SA	1,700	91,912
Elior SA (a)(b)	7,497	59,106
LVMH Moet Hennessy Louis Vuitton SE	400	313,649
Sanofi SA	2,836	284,860
Teleperformance	251	104,775
Vicat SA	1,610	68,584
VINCI SA	1,224	130,698

TOTAL FRANCE		1,447,317

Germany - 2.1%
Deutsche Post AG	2,763	170,944
Deutsche Telekom AG	6,785	126,182
DWS Group GmbH & Co. KGaA (b)	2,375	102,737
Linde PLC	518	166,768
Siemens AG	889	144,535

TOTAL GERMANY		711,166

Hong Kong - 0.6%
AIA Group Ltd.	18,962	212,507
India - 2.0%
HDFC Bank Ltd. sponsored ADR	1,141	82,049
Petronet LNG Ltd.	30,188	92,451
Redington (India) Ltd.	59,042	113,192
Reliance Industries Ltd.	592	15,026
Reliance Industries Ltd.	11,778	398,532

TOTAL INDIA		701,250

Indonesia - 0.3%
PT Bank Central Asia Tbk	177,815	93,818
Ireland - 2.3%
Accenture PLC Class A	1,328	476,473
Johnson Controls International PLC	1,853	135,955
Linde PLC	545	173,964

TOTAL IRELAND		786,392

Japan - 6.2%
Daiichikosho Co. Ltd.	3,891	141,280
FUJIFILM Holdings Corp.	1,239	95,747
Fujitsu Ltd.	500	86,415
Hitachi Ltd.	3,881	223,641
Hoya Corp.	2,503	368,463
Inaba Denki Sangyo Co. Ltd.	6,634	159,134
Jm Holdings Co. Ltd.	3,279	53,823
Minebea Mitsumi, Inc.	5,843	147,927
NSD Co. Ltd.	2,832	53,962
Renesas Electronics Corp. (a)	8,600	105,792
Roland Corp.	2,251	92,551
Sony Group Corp.	3,850	445,816
Toyota Motor Corp.	9,410	166,032

TOTAL JAPAN		2,140,583

Kenya - 0.5%
Safaricom Ltd.	425,875	163,769
Korea (South) - 1.3%
Samsung Electronics Co. Ltd.	7,690	458,065
Luxembourg - 0.4%
B&M European Value Retail SA	14,676	127,177
Netherlands - 1.8%
Airbus Group NV (a)	1,544	198,067
Koninklijke Philips Electronics NV	3,170	149,545
NXP Semiconductors NV	1,336	268,349

TOTAL NETHERLANDS		615,961

New Zealand - 0.5%
Auckland International Airport Ltd. (a)	30,908	176,968
South Africa - 0.0%
Thungela Resources Ltd. (a)	395	1,854
Spain - 1.8%
Aena SME SA (a)(b)	1,844	302,852
Amadeus IT Holding SA Class A (a)	4,917	328,766

TOTAL SPAIN		631,618

Sweden - 0.4%
EQT AB	800	42,161
HEXPOL AB (B Shares)	9,513	111,103

TOTAL SWEDEN		153,264

Switzerland - 3.5%
Barry Callebaut AG	20	46,265
Chubb Ltd.	668	130,514
Nestle SA (Reg. S)	2,329	307,212
Roche Holding AG (participation certificate)	1,106	428,458
Sika AG	822	278,309

TOTAL SWITZERLAND		1,190,758

Taiwan - 2.3%
International Games Systems Co. Ltd.	3,758	96,362
MediaTek, Inc.	3,000	98,366
Taiwan Semiconductor Manufacturing Co. Ltd.	28,022	593,856

TOTAL TAIWAN		788,584

United Kingdom - 7.0%
Anglo American PLC (United Kingdom)	4,458	169,596
AstraZeneca PLC sponsored ADR	5,755	358,997
Compass Group PLC (a)	19,342	410,449
Cranswick PLC	1,616	76,521
Diageo PLC	6,098	303,386
Informa PLC (a)	47,314	336,320
JD Sports Fashion PLC	8,602	128,082
Reckitt Benckiser Group PLC	2,469	200,440
RELX PLC (London Stock Exchange)	8,977	278,143
Starling Bank Ltd. Series D (a)(c)(d)	18,400	32,593
WH Smith PLC (a)	4,775	102,074

TOTAL UNITED KINGDOM		2,396,601

United States of America - 44.2%
AbbVie, Inc.	2,173	249,178
Ameren Corp.	2,059	173,553
American Tower Corp.	1,067	300,862
AMETEK, Inc.	703	93,077
Amgen, Inc.	1,568	324,529
Apple, Inc.	9,668	1,448,271
Bank of America Corp.	7,658	365,899
BJ's Wholesale Club Holdings, Inc. (a)	3,725	217,689
BlackRock, Inc. Class A	263	248,130
Bristol-Myers Squibb Co.	4,611	269,282
Burlington Stores, Inc. (a)	200	55,258
Capital One Financial Corp.	2,196	331,662
Cisco Systems, Inc.	4,275	239,272
Citigroup, Inc.	3,309	228,850
Comcast Corp. Class A	4,910	252,521
Costco Wholesale Corp.	445	218,735
Crane Co.	815	84,173
Crown Holdings, Inc.	1,117	116,157
Danaher Corp.	1,461	455,496
Digital Realty Trust, Inc.	847	133,665
Dominion Energy, Inc.	2,064	156,720
Eli Lilly & Co.	1,401	356,919
Exxon Mobil Corp.	2,773	178,775
Fortive Corp.	1,316	99,634
General Electric Co.	1,785	187,193
Gilead Sciences, Inc.	1,761	114,254
Hartford Financial Services Group, Inc.	1,408	102,685
Hess Corp.	1,323	109,240
JPMorgan Chase & Co.	2,469	419,458
Keurig Dr. Pepper, Inc.	3,510	126,676
Kohl's Corp.	2,951	143,212
Lamar Advertising Co. Class A	2,228	252,210
Lowe's Companies, Inc.	1,160	271,231
M&T Bank Corp.	1,177	173,160
Merck & Co., Inc.	1,879	165,446
Microsoft Corp.	4,262	1,413,364
Mondelez International, Inc.	2,435	147,902
MSCI, Inc.	167	111,035
NextEra Energy, Inc.	3,092	263,840
Northrop Grumman Corp.	333	118,954
NRG Energy, Inc.	2,521	100,563
Packaging Corp. of America	1,191	163,608
PG&E Corp. (a)	2,530	29,348
Phillips 66 Co.	1,357	101,476
PNC Financial Services Group, Inc.	1,039	219,260
Procter & Gamble Co.	2,309	330,164
PVH Corp.	852	93,149
Roper Technologies, Inc.	237	115,625
T-Mobile U.S., Inc. (a)	1,949	224,193
Tapestry, Inc.	3,698	144,148
Target Corp.	685	177,840
Tempur Sealy International, Inc.	2,112	93,921
The Coca-Cola Co.	6,396	360,543
The Travelers Companies, Inc.	1,155	185,816
The Walt Disney Co. (a)	1,490	251,914
United Parcel Service, Inc. Class B	1,275	272,174
UnitedHealth Group, Inc.	866	398,767
Valero Energy Corp.	1,731	133,858
Verizon Communications, Inc.	3,382	179,212
Vistra Corp.	6,169	120,851
Walmart, Inc.	1,192	178,109
Watsco, Inc.	109	31,564
WEC Energy Group, Inc.	1,015	91,411
Wells Fargo & Co.	9,270	474,253

TOTAL UNITED STATES OF AMERICA		15,189,934

TOTAL COMMON STOCKS
(Cost $21,501,595)		31,296,795

Money Market Funds - 9.1%
Fidelity Cash Central Fund 0.06% (e)
(Cost $3,121,618)	3,120,994	3,121,618
TOTAL INVESTMENT IN SECURITIES - 100.1%
(Cost $24,623,213)		34,418,413
NET OTHER ASSETS (LIABILITIES) - (0.1)%		(44,639)
NET ASSETS - 100%		$34,373,774

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

(a) Non-income producing

(c) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $32,593 or 0.1% of net assets.

(d) Level 3 security

(e) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Fund	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Realized Gain/Loss	Change in Unrealized appreciation (depreciation)	Value, end of period	% ownership, end of period
Fidelity Cash Central Fund 0.06%	$994,966	$8,397,877	$6,271,213	$1,017	$(12)	$--	$3,121,618	0.0%
Total	$994,966	$8,397,877	$6,271,213	$1,017	$(12)	$--	$3,121,618

Investment Valuation

	Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Communication Services	$2,651,168	$2,201,200	$449,968	$--
Consumer Discretionary	2,823,695	1,395,198	1,428,497	--
Consumer Staples	2,903,579	2,038,718	864,861	--
Energy	1,705,658	1,705,658	--	--
Financials	3,793,053	3,547,953	212,507	32,593
Health Care	3,987,361	2,756,035	1,231,326	--
Industrials	3,387,175	2,164,652	1,222,523	--
Information Technology	6,847,072	5,453,235	1,393,837	--
Materials	1,434,819	1,265,223	169,596	--
Real Estate	686,737	686,737	--	--
Utilities	1,076,478	1,076,478	--	--
Money Market Funds	3,121,618	3,121,618	--	--
Total Investments in Securities:	$34,418,413	$27,412,705	$6,973,115	$32,593

See accompanying notes which are an integral part of the financial statements.

Financial Statements

Statement of Assets and Liabilities

		October 31, 2021
Assets
Investment in securities, at value — See accompanying schedule: Unaffiliated issuers (cost $21,501,595)	$31,296,795
Fidelity Central Funds (cost $3,121,618)	3,121,618
Total Investment in Securities (cost $24,623,213)		$34,418,413
Cash		4,179
Foreign currency held at value (cost $3,622)		3,616
Receivable for fund shares sold		11,268
Dividends receivable		34,831
Reclaims receivable		28,475
Distributions receivable from Fidelity Central Funds		151
Prepaid expenses		41
Receivable from investment adviser for expense reductions		1,359
Other receivables		169
Total assets		34,502,502
Liabilities
Payable for fund shares redeemed	$8,968
Accrued management fee	18,893
Distribution and service plan fees payable	10,796
Other affiliated payables	6,112
Audit fee payable	45,790
Other payables and accrued expenses	38,169
Total liabilities		128,728
Net Assets		$34,373,774
Net Assets consist of:
Paid in capital		$21,900,425
Total accumulated earnings (loss)		12,473,349
Net Assets		$34,373,774
Net Asset Value and Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($12,639,961 ÷ 599,822 shares)^(a)		$21.07
Maximum offering price per share (100/94.25 of $21.07)		$22.36
Class M:
Net Asset Value and redemption price per share ($8,441,514 ÷ 400,998 shares)^(a)		$21.05
Maximum offering price per share (100/96.50 of $21.05)		$21.81
Class C:
Net Asset Value and offering price per share ($5,890,626 ÷ 282,155 shares)^(a)		$20.88
Class I:
Net Asset Value, offering price and redemption price per share ($2,822,933 ÷ 133,833 shares)		$21.09
Class Z:
Net Asset Value, offering price and redemption price per share ($4,578,740 ÷ 216,133 shares)		$21.18

(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Statement of Operations

		Year ended October 31, 2021
Investment Income
Dividends		$571,755
Income from Fidelity Central Funds		1,017
Income before foreign taxes withheld		572,772
Less foreign taxes withheld		(38,037)
Total income		534,735
Expenses
Management fee	$197,311
Transfer agent fees	53,095
Distribution and service plan fees	110,675
Accounting fees and expenses	15,125
Custodian fees and expenses	14,984
Independent trustees' fees and expenses	109
Registration fees	66,237
Audit	71,499
Legal	256
Miscellaneous	202
Total expenses before reductions	529,493
Expense reductions	(107,088)
Total expenses after reductions		422,405
Net investment income (loss)		112,330
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers (net of foreign taxes of $5,075)	3,048,264
Fidelity Central Funds	(12)
Foreign currency transactions	4,135
Total net realized gain (loss)		3,052,387
Change in net unrealized appreciation (depreciation) on:
Investment securities:
Unaffiliated issuers (net of increase in deferred foreign taxes of $15,918)	4,520,348
Assets and liabilities in foreign currencies	(621)
Total change in net unrealized appreciation (depreciation)		4,519,727
Net gain (loss)		7,572,114
Net increase (decrease) in net assets resulting from operations		$7,684,444

See accompanying notes which are an integral part of the financial statements.

Statement of Changes in Net Assets

	Year ended October 31, 2021	Year ended October 31, 2020
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$112,330	$153,817
Net realized gain (loss)	3,052,387	346,360
Change in net unrealized appreciation (depreciation)	4,519,727	441,225
Net increase (decrease) in net assets resulting from operations	7,684,444	941,402
Distributions to shareholders	(393,317)	(146,473)
Share transactions - net increase (decrease)	5,360,910	(481,516)
Total increase (decrease) in net assets	12,652,037	313,413
Net Assets
Beginning of period	21,721,737	21,408,324
End of period	$34,373,774	$21,721,737

See accompanying notes which are an integral part of the financial statements.

Financial Highlights

Fidelity Advisor Global Equity Income Fund Class A

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$15.95	$15.33	$13.86	$14.63	$12.44
Income from Investment Operations
Net investment income (loss)^A	.10	.13	.19	.19	.13
Net realized and unrealized gain (loss)	5.32	.61	1.76	(.52)	2.20
Total from investment operations	5.42	.74	1.95	(.33)	2.33
Distributions from net investment income	(.10)^B	(.12)	(.20)	(.18)	(.13)
Distributions from net realized gain	(.20)^B	–	(.28)	(.26)	(.01)
Total distributions	(.30)	(.12)	(.48)	(.44)	(.14)
Net asset value, end of period	$21.07	$15.95	$15.33	$13.86	$14.63
Total Return^C,^D	34.23%	4.87%	14.52%	(2.41)%	18.79%
Ratios to Average Net Assets^E,^F
Expenses before reductions	1.72%	1.97%	2.18%	1.91%	2.05%
Expenses net of fee waivers, if any	1.34%	1.39%	1.45%	1.45%	1.45%
Expenses net of all reductions	1.34%	1.38%	1.45%	1.44%	1.45%
Net investment income (loss)	.49%	.81%	1.32%	1.33%	.96%
Supplemental Data
Net assets, end of period (000 omitted)	$12,640	$8,362	$8,314	$8,427	$7,441
Portfolio turnover rate^G	40%	52%	18%^H	37%	48%

^A Calculated based on average shares outstanding during the period.

^B The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Total returns do not include the effect of the sales charges.

^G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^H Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Global Equity Income Fund Class M

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$15.94	$15.32	$13.85	$14.62	$12.44
Income from Investment Operations
Net investment income (loss)^A	.05	.09	.15	.16	.10
Net realized and unrealized gain (loss)	5.31	.61	1.76	(.53)	2.18
Total from investment operations	5.36	.70	1.91	(.37)	2.28
Distributions from net investment income	(.06)^B	(.08)	(.16)	(.14)	(.10)
Distributions from net realized gain	(.20)^B	–	(.28)	(.26)	(.01)
Total distributions	(.25)^C	(.08)	(.44)	(.40)	(.10)^C
Net asset value, end of period	$21.05	$15.94	$15.32	$13.85	$14.62
Total Return^D,^E	33.89%	4.63%	14.23%	(2.64)%	18.42%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.95%	2.24%	2.49%	2.21%	2.35%
Expenses net of fee waivers, if any	1.60%	1.64%	1.70%	1.70%	1.70%
Expenses net of all reductions	1.60%	1.63%	1.70%	1.69%	1.69%
Net investment income (loss)	.23%	.56%	1.07%	1.08%	.71%
Supplemental Data
Net assets, end of period (000 omitted)	$8,442	$3,545	$3,135	$3,279	$3,573
Portfolio turnover rate^H	40%	52%	18%^I	37%	48%

^A Calculated based on average shares outstanding during the period.

^B The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^C Total distributions per share do not sum due to rounding.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the sales charges.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^I Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Global Equity Income Fund Class C

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$15.84	$15.24	$13.77	$14.57	$12.39
Income from Investment Operations
Net investment income (loss)^A	(.05)	.01	.08	.08	.03
Net realized and unrealized gain (loss)	5.28	.62	1.75	(.53)	2.19
Total from investment operations	5.23	.63	1.83	(.45)	2.22
Distributions from net investment income	–^B	(.03)	(.09)	(.09)	(.03)
Distributions from net realized gain	(.19)	–	(.28)	(.26)	(.01)
Total distributions	(.19)	(.03)	(.36)^C	(.35)	(.04)
Net asset value, end of period	$20.88	$15.84	$15.24	$13.77	$14.57
Total Return^D,^E	33.22%	4.12%	13.71%	(3.22)%	17.91%
Ratios to Average Net Assets^F,^G
Expenses before reductions	2.47%	2.75%	2.99%	2.72%	2.85%
Expenses net of fee waivers, if any	2.09%	2.14%	2.20%	2.20%	2.20%
Expenses net of all reductions	2.09%	2.13%	2.20%	2.19%	2.20%
Net investment income (loss)	(.26)%	.06%	.57%	.58%	.21%
Supplemental Data
Net assets, end of period (000 omitted)	$5,891	$4,082	$4,173	$4,340	$4,190
Portfolio turnover rate^H	40%	52%	18%^I	37%	48%

^A Calculated based on average shares outstanding during the period.

^B Amount represents less than $.005 per share.

^C Total distributions per share do not sum due to rounding.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the contingent deferred sales charge.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^I Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Global Equity Income Fund Class I

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$15.96	$15.35	$13.88	$14.66	$12.46
Income from Investment Operations
Net investment income (loss)^A	.15	.17	.22	.23	.16
Net realized and unrealized gain (loss)	5.32	.60	1.77	(.53)	2.21
Total from investment operations	5.47	.77	1.99	(.30)	2.37
Distributions from net investment income	(.15)^B	(.16)	(.24)	(.22)	(.16)
Distributions from net realized gain	(.20)^B	–	(.28)	(.26)	(.01)
Total distributions	(.34)^C	(.16)	(.52)	(.48)	(.17)
Net asset value, end of period	$21.09	$15.96	$15.35	$13.88	$14.66
Total Return^D	34.59%	5.08%	14.84%	(2.20)%	19.12%
Ratios to Average Net Assets^E,^F
Expenses before reductions	1.37%	1.63%	1.83%	1.51%	1.77%
Expenses net of fee waivers, if any	1.07%	1.13%	1.20%	1.20%	1.20%
Expenses net of all reductions	1.07%	1.12%	1.20%	1.19%	1.20%
Net investment income (loss)	.75%	1.06%	1.57%	1.58%	1.21%
Supplemental Data
Net assets, end of period (000 omitted)	$2,823	$2,378	$2,188	$2,493	$2,533
Portfolio turnover rate^G	40%	52%	18%^H	37%	48%

^A Calculated based on average shares outstanding during the period.

^B The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^C Total distributions per share do not sum due to rounding.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^H Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Global Equity Income Fund Class Z

Years ended October 31,	2021	2020	2019	2018 ^A
Selected Per–Share Data
Net asset value, beginning of period	$16.01	$15.37	$13.88	$14.88
Income from Investment Operations
Net investment income (loss)^B	.18	.19	.25	.01
Net realized and unrealized gain (loss)	5.34	.61	1.76	(.94)
Total from investment operations	5.52	.80	2.01	(.93)
Distributions from net investment income	(.15)^C	(.16)	(.24)	(.07)
Distributions from net realized gain	(.20)^C	–	(.28)	–
Total distributions	(.35)	(.16)	(.52)	(.07)
Net asset value, end of period	$21.18	$16.01	$15.37	$13.88
Total Return^D,^E	34.75%	5.29%	15.00%	(6.31)%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.29%	1.50%	1.37%	1.08%^H
Expenses net of fee waivers, if any	.93%	.98%	1.04%	1.05%^H
Expenses net of all reductions	.93%	.97%	1.04%	1.04%^H
Net investment income (loss)	.90%	1.21%	1.73%	.45%^H
Supplemental Data
Net assets, end of period (000 omitted)	$4,579	$3,354	$3,599	$94
Portfolio turnover rate^I	40%	52%	18%^J	37%^H

^A For the period October 2, 2018 (commencement of sale of shares) through October 31, 2018.

^B Calculated based on average shares outstanding during the period.

^C The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

^D Total returns for periods of less than one year are not annualized.

^E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^H Annualized

^I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^J Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Notes to Financial Statements

For the period ended October 31, 2021

1. Organization.

Fidelity Advisor Global Equity Income Fund (the Fund) is a fund of Fidelity Advisor Series VIII (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Effective June 21, 2021, Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. Prior to June 21, 2021, Class C shares automatically converted to Class A shares after a holding period of ten years from the initial date of purchase, with certain exceptions.

2. Investments in Fidelity Central Funds.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense Ratio^(a)
Fidelity Money Market Central Funds	Fidelity Management & Research Company LLC (FMR)	Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.	Short-term Investments	Less than .005%

(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

3. Significant Accounting Policies.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 – quoted prices in active markets for identical investments
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, ETFs and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP. These differences resulted in distribution reclassifications. In addition, the Fund claimed a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), certain foreign taxes and losses due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$10,268,986
Gross unrealized depreciation	(544,872)
Net unrealized appreciation (depreciation)	$9,724,114
Tax Cost	$24,694,299

The tax-based components of distributable earnings as of period end were as follows:

Undistributed ordinary income	$192,444
Undistributed long-term capital gain	$2,588,299
Net unrealized appreciation (depreciation) on securities and other investments	$9,725,086

The tax character of distributions paid was as follows:

	October 31, 2021	October 31, 2020
Ordinary Income	$135,643	$ 146,473
Long-term Capital Gains	257,674	–
Total	$393,317	$ 146,473

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Advisor Global Equity Income Fund	13,836,188	10,873,641

5. Fees and Other Transactions with Affiliates.

	Distribution Fee	Service Fee	Total Fees	Retained by FDC
Class A	-%	.25%	$27,614	$964
Class M	.25%	.25%	29,624	–
Class C	.75%	.25%	53,437	8,551
			$110,675	$9,515

For the period, sales charge amounts retained by FDC were as follows:

	Retained by FDC
Class A	$4,178
Class M	1,421
Class C^(a)	426
	$6,025

(a) When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
Class A	$24,220	.22
Class M	11,798	.20
Class C	12,050	.23
Class I	3,214	.12
Class Z	1,813	.04
	$53,095

	% of Average Net Assets
Fidelity Advisor Global Equity Income Fund	.05

	Amount
Fidelity Advisor Global Equity Income Fund	$134

	Purchases ($)	Sales ($)	Realized Gain (Loss) ($)
Fidelity Advisor Global Equity Income Fund	554,847	635,013	261,320

6. Committed Line of Credit.

	Amount
Fidelity Advisor Global Equity Income Fund	$50

7. Expense Reductions.

The investment adviser contractually agreed to reimburse expenses of each class to the extent annual operating expenses exceeded certain levels of class-level average net assets as noted in the table below. This reimbursement will remain in place through February 28, 2023. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement.

The following classes were in reimbursement during the period:

	Expense Limitations	Reimbursement
Class A	1.35%/1.30%^(a)	$41,879
Class M	1.60%/1.55%^(a)	20,759
Class C	2.10%/2.05%^(a)	20,577
Class I	1.10%/1.05%^(a)	7,772
Class Z	.95%/.90%^(a)	15,608
		$106,595

(a) Expense limitation effective June 1, 2021.

In addition, during the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $486.

8. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Global Equity Income Fund
Distributions to shareholders
Class A	$159,603	$62,297
Class M	63,027	18,293
Class C	49,095	6,876
Class I	47,915	25,073
Class Z	73,677	33,934
Total	$393,317	$146,473

9. Share Transactions.

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

	Shares	Shares	Dollars	Dollars
	Year ended October 31, 2021	Year ended October 31, 2020	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Global Equity Income Fund
Class A
Shares sold	150,442	106,490	$2,985,593	$1,696,197
Reinvestment of distributions	8,392	4,038	155,239	60,356
Shares redeemed	(83,330)	(128,507)	(1,637,388)	(1,907,038)
Net increase (decrease)	75,504	(17,979)	$1,503,444	$(150,485)
Class M
Shares sold	204,169	54,509	$4,037,840	$830,590
Reinvestment of distributions	3,428	1,223	62,978	18,187
Shares redeemed	(29,024)	(37,916)	(563,106)	(590,122)
Net increase (decrease)	178,573	17,816	$3,537,712	$258,655
Class C
Shares sold	79,044	48,335	$1,527,924	$725,013
Reinvestment of distributions	2,756	458	48,927	6,836
Shares redeemed	(57,448)	(64,774)	(1,112,359)	(995,177)
Net increase (decrease)	24,352	(15,981)	$464,492	$(263,328)
Class I
Shares sold	16,112	50,768	$322,451	$694,934
Reinvestment of distributions	1,960	1,394	36,296	20,796
Shares redeemed	(33,236)	(45,718)	(623,246)	(688,941)
Net increase (decrease)	(15,164)	6,444	$(264,499)	$26,789
Class Z
Shares sold	52,488	44,865	$1,041,371	$722,342
Reinvestment of distributions	3,913	2,241	72,992	33,769
Shares redeemed	(49,793)	(71,725)	(994,602)	(1,109,258)
Net increase (decrease)	6,608	(24,619)	$119,761	$(353,147)

10. Other.

11. Coronavirus (COVID-19) Pandemic.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Advisor Series VIII and Shareholders of Fidelity Advisor Global Equity Income Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity Advisor Global Equity Income Fund (one of the funds constituting Fidelity Advisor Series VIII, referred to hereafter as the “Fund”) as of October 31, 2021, the related statement of operations for the year ended October 31, 2021, the statement of changes in net assets for each of the two years in the period ended October 31, 2021, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2021, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2021 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2021 by correspondence with the custodian and issuers of privately offered securities. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

December 13, 2021

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

Trustees and Officers

The fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-877-208-0098.

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Bettina Doulton (1964)

Year of Election or Appointment: 2021

Trustee

Robert A. Lawrence (1952)

Year of Election or Appointment: 2020

Trustee

Acting Chairman of the Board of Trustees

* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Thomas P. Bostick (1956)

Year of Election or Appointment: 2021

Trustee

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Vicki L. Fuller (1957)

Year of Election or Appointment: 2020

Trustee

Patricia L. Kampling (1959)

Year of Election or Appointment: 2020

Trustee

Thomas A. Kennedy (1955)

Year of Election or Appointment: 2021

Trustee

Oscar Munoz (1959)

Year of Election or Appointment: 2021

Trustee

Garnett A. Smith (1947)

Year of Election or Appointment: 2018

Trustee

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Lead Independent Trustee

Susan Tomasky (1953)

Year of Election or Appointment: 2020

Trustee

Michael E. Wiley (1950)

Year of Election or Appointment: 2020

Trustee

Advisory Board Members and Officers:

Name, Year of Birth; Principal Occupation

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Craig S. Brown (1977)

Year of Election or Appointment: 2019

Assistant Treasurer

Mr. Brown also serves as an officer of other funds. Mr. Brown serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2013-present).

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

William C. Coffey (1969)

Year of Election or Appointment: 2019

Assistant Secretary

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Colm A. Hogan (1973)

Year of Election or Appointment: 2020

Assistant Treasurer

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Cynthia Lo Bessette (1969)

Year of Election or Appointment: 2019

Secretary and Chief Legal Officer (CLO)

Chris Maher (1972)

Year of Election or Appointment: 2020

Deputy Treasurer

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2020

Chief Compliance Officer

Brett Segaloff (1972)

Year of Election or Appointment: 2021

Anti-Money Laundering (AML) Officer

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Jim Wegmann (1979)

Year of Election or Appointment: 2019

Assistant Treasurer

Shareholder Expense Example

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2021 to October 31, 2021).

Actual Expenses

Hypothetical Example for Comparison Purposes

	Annualized Expense Ratio-^A	Beginning Account Value May 1, 2021	Ending Account Value October 31, 2021	Expenses Paid During Period-^B May 1, 2021 to October 31, 2021
Fidelity Advisor Global Equity Income Fund
Class A	1.33%
Actual		$1,000.00	$1,061.80	$6.91
Hypothetical-^C		$1,000.00	$1,018.50	$6.77
Class M	1.60%
Actual		$1,000.00	$1,060.20	$8.31
Hypothetical-^C		$1,000.00	$1,017.14	$8.13
Class C	2.08%
Actual		$1,000.00	$1,057.80	$10.79
Hypothetical-^C		$1,000.00	$1,014.72	$10.56
Class I	1.05%
Actual		$1,000.00	$1,063.00	$5.46
Hypothetical-^C		$1,000.00	$1,019.91	$5.35
Class Z	.91%
Actual		$1,000.00	$1,063.80	$4.73
Hypothetical-^C		$1,000.00	$1,020.62	$4.63

^A Annualized expense ratio reflects expenses net of applicable fee waivers.

^C 5% return per year before expenses

Distributions (Unaudited)

The Board of Trustees of Fidelity Advisor Global Equity Income Fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities, and dividends derived from net investment income:

	Pay Date	Record Date	Dividends	Capital Gains
Fidelity Advisor Global Equity Income Fund
Class A	12/13/21	12/10/21	$0.014	$1.694
Class M	12/13/21	12/10/21	$0.000	$1.694
Class C	12/13/21	12/10/21	$0.000	$1.663
Class I	12/13/21	12/10/21	$0.028	$1.694
Class Z	12/13/21	12/10/21	$0.028	$1.694

The fund hereby designates as a capital gain dividend with respect to the taxable year ended October 31, 2021, $2,589,364, or, if subsequently determined to be different, the net capital gain of such year.

A total of 0.07% of the dividends distributed during the fiscal year was derived from interest on U.S. Government securities which is generally exempt from state income tax.

Class A, Class M, Class C, Class I and Class Z designate 100% of the dividends distributed during the fiscal year as qualifying for the dividends-received deduction for corporate shareholders.

Class A, Class M, Class C, Class I and Class Z designate 100% of the dividends distributed during the fiscal year as amounts which may be taken into account as a dividend for the purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

The fund will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Advisor Global Equity Income Fund

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

Management Fee. The Board considered two proprietary management fee comparisons for the 12-month periods ended September 30 (June 30 for periods ended 2019 and 2018 and December 31 for periods prior to 2018) shown in basis points (BP) in the chart below. The group of Lipper funds used by the Board for management fee comparisons is referred to below as the "Total Mapped Group." The Total Mapped Group is broader than the Lipper peer group used by the Board for performance comparisons because the Total Mapped Group combines several Lipper investment objective categories while the Lipper peer group does not. The Total Mapped Group comparison focuses on a fund's standing in terms of gross management fees before expense reimbursements or caps relative to the total universe of funds with comparable investment mandates, regardless of whether their management fee structures also are comparable. Funds with comparable investment mandates offer exposure to similar types of securities. Funds with comparable management fee structures have similar management fee contractual arrangements (e.g., flat rate charged for advisory services, all-inclusive fee rate, etc.). "TMG %" represents the percentage of funds in the Total Mapped Group that had management fees that were lower than the fund's. For example, a hypothetical TMG % of 20% would mean that 80% of the funds in the Total Mapped Group had higher, and 20% had lower, management fees than the fund. The fund's actual TMG %s and the number of funds in the Total Mapped Group are in the chart below. The "Asset-Sized Peer Group" (ASPG) comparison focuses on a fund's standing relative to a subset of non-Fidelity funds within the Total Mapped Group that are similar in size and management fee structure. For example, if a fund is in the first quartile of the ASPG, the fund's management fee ranks in the least expensive or lowest 25% of funds in the ASPG. The ASPG represents at least 15% of the funds in the Total Mapped Group with comparable asset size and management fee structures, subject to a minimum of 50 funds (or all funds in the Total Mapped Group if fewer than 50). Additional information, such as the ASPG quartile in which the fund's management fee rate ranked, is also included in the chart and was considered by the Board.

Fidelity Advisor Global Equity Income Fund

The Board noted that the fund's management fee rate ranked below the median of its Total Mapped Group and below the median of its ASPG for the 12-month period ended September 30, 2020.

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

Total Expense Ratio. In its review of each class's total expense ratio, the Board considered the fund's management fee rate as well as other fund or class expenses, as applicable, such as transfer agent fees, pricing and bookkeeping fees, fund-paid 12b-1 fees, and custodial, legal, and audit fees. The Board also noted that Fidelity may agree to waive fees or reimburse expenses from time to time, and the extent to which, if any, it has done so for the fund. As part of its review, the Board also considered the current and historical total expense ratios of each class of the fund compared to competitive fund median expenses. The fund's representative class is compared to those funds and classes in the Total Mapped Group (used by the Board for management fee comparisons) that have a similar sales load structure (SLTG). The Board also considered a total expense ASPG comparison for the representative class, which focuses on the total expenses of the representative class relative to a subset of non-Fidelity funds within the total expense SLTG. The total expense ASPG is limited to 15 larger and 15 smaller classes in fund average assets for a total of 30 classes, where possible. The total expense ASPG comparison excludes performance adjustments and fund-paid 12b-1 fees to eliminate variability in fee structures.

The Board noted that the total expense ratio of Class I ranked above the SLTG competitive median and above the ASPG competitive median for the 12-month period ended September 30, 2020. Board considered that, in general, various factors can affect total expense ratios. The Board noted that Class I was above the SLTG competitive median due to higher other expenses as a result of low asset levels. The Board noted that the fund offers multiple classes, each of which has a different sales load and 12b-1 fee structure, and that the multiple structures are intended to offer a range of pricing options for the intermediary market. The Board also noted that the total expense ratios of the classes vary primarily by the level of their 12b-1 fees, although differences in transfer agent fees may also cause expenses to vary from class to class.

The Board considered that FMR has contractually agreed to reimburse Class A, Class M, Class C, Class I, and Class Z of the fund to the extent that total operating expenses, with certain exceptions, as a percentage of their respective average net assets, exceed 1.35%, 1.60%, 2.10%, 1.10%, and 0.95% through February 28, 2022.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Fidelity Investments

AGED-ANN-1221
1.938151.109

Fidelity Advisor® International Capital Appreciation Fund

Annual Report

October 31, 2021

Contents

Note to Shareholders
Performance
Management's Discussion of Fund Performance
Investment Summary
Schedule of Investments
Financial Statements
Notes to Financial Statements
Report of Independent Registered Public Accounting Firm
Trustees and Officers
Shareholder Expense Example
Distributions
Board Approval of Investment Advisory Contracts and Management Fees

You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Note to Shareholders:

Performance: The Bottom Line

Average Annual Total Returns

For the periods ended October 31, 2021	Past 1 year	Past 5 years	Past 10 years
Class A (incl. 5.75% sales charge)	19.94%	13.84%	11.33%
Class M (incl. 3.50% sales charge)	22.50%	14.08%	11.32%
Class C (incl. contingent deferred sales charge)	25.33%	14.32%	11.34%
Class I	27.60%	15.51%	12.29%
Class Z	27.73%	15.64%	12.36%

Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.

The initial offering of Class Z shares took place on February 1, 2017. Returns prior to February 1, 2017, are those of Class I.

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Fidelity Advisor® International Capital Appreciation Fund - Class A on October 31, 2011, and the current 5.75% sales charge was paid.

The chart shows how the value of your investment would have changed, and also shows how the MSCI ACWI (All Country World Index) ex USA Index performed over the same period.

	Period Ending Values
	$29,256	Fidelity Advisor® International Capital Appreciation Fund - Class A
	$19,347	MSCI ACWI (All Country World Index) ex USA Index

Management's Discussion of Fund Performance

Comments from Portfolio Manager Sammy Simnegar: For the fiscal year ending October 31, 2021, the fund's share classes (excluding sales charges, if applicable) gained about 26% to 28%, trailing the 29.85% result of the benchmark MSCI All Country World ex USA (Net MA) Index. From a regional standpoint, stock picks in emerging markets and Europe ex U.K. hurt the fund's relative result most. By sector, the primary detractors from performance versus the benchmark were an underweighting and security selection in financials, especially among banks. Stock picks and an overweighting in consumer discretionary, along with investment choices in communication services, also hampered the portfolio’s relative return. The biggest individual relative detractor was an overweight position in Tencent Holdings (-24%), which was among the fund's largest holdings the past 12 months. Another notable relative detractor was an outsized stake in Cellnex Telecom (-23%), where we added to our stake the past year. The fund's non-benchmark holding in SolarEdge Technologies, a position not held at period end, returned about -32%. Conversely, an underweighting in emerging markets and an overweighting in Europe ex U.K. contributed to the fund's relative result. By sector, the primary contributors to performance versus the benchmark were security selection and an overweighting in information technology. Investment choices and an underweighting in health care also helped, as did picks in industrials. The biggest individual relative contributor was an overweight position in Sea Limited (+125%). Adding further value was an out-of-benchmark stake in Nvidia (+104%). Another notable relative contributor was an outsized stake in Ashtead (+132%). Notable changes in positioning this period include increased exposure to Canada and France. By sector, meaningful shifts include increased exposure to industrials and a lower allocation to consumer discretionary.

Investment Summary (Unaudited)

Top Five Stocks as of October 31, 2021

	% of fund's net assets
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment)	3.0
Nestle SA (Reg. S) (Switzerland, Food Products)	2.5
ASML Holding NV (Netherlands) (Netherlands, Semiconductors & Semiconductor Equipment)	2.4
LVMH Moet Hennessy Louis Vuitton SE (France, Textiles, Apparel & Luxury Goods)	1.9
Novo Nordisk A/S Series B (Denmark, Pharmaceuticals)	1.9
	11.7

Top Five Market Sectors as of October 31, 2021

	% of fund's net assets
Information Technology	28.6
Industrials	25.5
Consumer Discretionary	10.4
Health Care	9.2
Financials	8.9

Top Five Countries as of October 31, 2021

(excluding cash equivalents)	% of fund's net assets
France	13.2
United States of America	12.6
Canada	9.1
Netherlands	8.7
Switzerland	7.6

Asset Allocation (% of fund's net assets)

As of October 31, 2021
	Stocks	99.3%
	Short-Term Investments and Net Other Assets (Liabilities)	0.7%

Schedule of Investments October 31, 2021

Showing Percentage of Net Assets

Common Stocks - 99.3%
	Shares	Value
Australia - 1.2%
Aristocrat Leisure Ltd.	3,095,119	$108,685,196
Bailiwick of Jersey - 1.2%
Ferguson PLC	731,900	110,130,509
Bermuda - 1.1%
IHS Markit Ltd.	762,500	99,674,000
Canada - 9.1%
Brookfield Asset Management, Inc. Class A (a)	2,083,244	125,807,105
Canadian National Railway Co.	1,033,040	137,293,487
Canadian Pacific Railway Ltd. (a)	1,692,800	131,022,392
CGI, Inc. Class A (sub. vtg.) (b)	1,154,500	103,136,328
Constellation Software, Inc.	61,980	108,925,243
Thomson Reuters Corp.	902,200	108,524,979
Waste Connections, Inc. (Canada)	726,530	98,858,801

TOTAL CANADA		813,568,335

Cayman Islands - 2.2%
Sea Ltd. ADR (b)	290,200	99,704,014
Shenzhou International Group Holdings Ltd.	4,690,600	101,055,235

TOTAL CAYMAN ISLANDS		200,759,249

Denmark - 3.2%
DSV A/S	487,644	113,328,920
Novo Nordisk A/S Series B	1,544,600	169,372,979

TOTAL DENMARK		282,701,899

France - 13.2%
Air Liquide SA	719,070	120,054,384
Compagnie de St. Gobain	1,642,200	113,332,429
Dassault Systemes SA	1,898,300	110,855,817
Edenred SA	1,482,885	80,173,839
EssilorLuxottica SA	571,300	118,149,639
Hermes International SCA	71,735	113,649,617
LVMH Moet Hennessy Louis Vuitton SE	218,401	171,252,956
Pernod Ricard SA	505,324	116,071,508
Schneider Electric SA	767,700	132,365,436
Teleperformance	254,200	106,111,113

TOTAL FRANCE		1,182,016,738

Germany - 3.8%
Brenntag SE	1,059,675	100,742,709
Infineon Technologies AG	2,685,500	125,765,614
Merck KGaA	477,900	112,810,780

TOTAL GERMANY		339,319,103

Hong Kong - 2.7%
AIA Group Ltd.	12,195,428	136,674,297
Techtronic Industries Co. Ltd.	5,202,294	107,048,039

TOTAL HONG KONG		243,722,336

India - 5.0%
HDFC Bank Ltd.	4,871,732	103,100,460
Kotak Mahindra Bank Ltd. (b)	3,916,100	106,119,492
Reliance Industries Ltd.	3,579,724	121,127,009
Tata Consultancy Services Ltd.	2,503,500	113,484,986

TOTAL INDIA		443,831,947

Ireland - 3.6%
Accenture PLC Class A	287,000	102,972,730
Kingspan Group PLC (Ireland)	1,003,672	115,606,795
Linde PLC	319,700	102,048,240

TOTAL IRELAND		320,627,765

Japan - 7.1%
Hoya Corp.	769,300	113,247,542
Keyence Corp.	223,868	135,130,035
Recruit Holdings Co. Ltd.	2,086,000	138,758,673
Shin-Etsu Chemical Co. Ltd.	693,100	123,602,651
Tokyo Electron Ltd.	273,200	127,320,239

TOTAL JAPAN		638,059,140

Netherlands - 8.7%
Adyen BV (b)(c)	40,400	121,899,340
Akzo Nobel NV	917,300	105,424,849
ASM International NV (Netherlands)	257,775	116,632,464
ASML Holding NV (Netherlands)	262,800	213,630,189
Ferrari NV	460,100	109,034,498
Wolters Kluwer NV	1,028,239	107,738,718

TOTAL NETHERLANDS		774,360,058

Spain - 1.3%
Cellnex Telecom SA (c)	1,816,400	111,665,152
Sweden - 6.4%
ASSA ABLOY AB (B Shares)	4,089,600	119,999,772
Atlas Copco AB (A Shares)	1,861,400	119,599,502
Evolution AB (c)	703,152	113,742,287
Hexagon AB (B Shares)	6,821,881	109,789,309
Swedish Match Co. AB	11,809,500	103,931,301

TOTAL SWEDEN		567,062,171

Switzerland - 7.6%
Lonza Group AG	142,004	116,413,502
Nestle SA (Reg. S)	1,708,230	225,327,883
Partners Group Holding AG	68,610	119,707,815
Sika AG	336,932	114,077,021
TE Connectivity Ltd.	680,357	99,332,122

TOTAL SWITZERLAND		674,858,343

Taiwan - 3.0%
Taiwan Semiconductor Manufacturing Co. Ltd.	12,661,000	268,318,154
United Kingdom - 6.3%
Ashtead Group PLC	1,325,300	111,073,395
Diageo PLC	2,778,100	138,215,166
London Stock Exchange Group PLC	987,700	96,146,391
RELX PLC (London Stock Exchange)	3,749,100	116,162,009
Rentokil Initial PLC	12,511,100	100,746,235

TOTAL UNITED KINGDOM		562,343,196

United States of America - 12.6%
Adobe, Inc. (b)	158,000	102,756,880
Autodesk, Inc. (b)	333,800	106,018,218
Danaher Corp.	324,100	101,044,657
MasterCard, Inc. Class A	282,150	94,666,968
MercadoLibre, Inc. (b)	65,890	97,584,408
Moody's Corp.	257,700	104,149,455
NICE Systems Ltd. sponsored ADR (b)	377,500	106,840,050
NVIDIA Corp.	445,540	113,911,212
Thermo Fisher Scientific, Inc.	166,070	105,133,935
Visa, Inc. Class A	435,640	92,255,483
Zoetis, Inc. Class A	461,600	99,797,920

TOTAL UNITED STATES OF AMERICA		1,124,159,186

TOTAL COMMON STOCKS
(Cost $6,603,861,645)		8,865,862,477

Money Market Funds - 3.8%
Fidelity Cash Central Fund 0.06% (d)	166,356,285	166,389,556
Fidelity Securities Lending Cash Central Fund 0.06% (d)(e)	176,090,241	176,107,850
TOTAL MONEY MARKET FUNDS
(Cost $342,497,406)		342,497,406
TOTAL INVESTMENT IN SECURITIES - 103.1%
(Cost $6,946,359,051)		9,208,359,883
NET OTHER ASSETS (LIABILITIES) - (3.1)%		(280,445,406)
NET ASSETS - 100%		$8,927,914,477

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

(a) Security or a portion of the security is on loan at period end.

(b) Non-income producing

(e) Investment made with cash collateral received from securities on loan.

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Fund	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Realized Gain/Loss	Change in Unrealized appreciation (depreciation)	Value, end of period	% ownership, end of period
Fidelity Cash Central Fund 0.06%	$131,009,621	$3,655,179,663	$3,619,800,220	$64,051	$492	$--	$166,389,556	0.3%
Fidelity Securities Lending Cash Central Fund 0.06%	17,712,541	746,425,021	588,029,712	75,178	--	--	176,107,850	0.5%
Total	$148,722,162	$4,401,604,684	$4,207,829,932	$139,229	$492	$--	$342,497,406

Investment Valuation

	Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Communication Services	$211,369,166	$211,369,166	$--	$--
Consumer Discretionary	933,153,836	660,845,645	272,308,191	--
Consumer Staples	583,545,858	220,002,809	363,543,049	--
Energy	121,127,009	121,127,009	--	--
Financials	791,705,015	455,783,867	335,921,148	--
Health Care	817,821,315	535,200,794	282,620,521	--
Industrials	2,288,117,913	1,783,661,603	504,456,310	--
Information Technology	2,553,815,220	1,341,106,523	1,212,708,697	--
Materials	565,207,145	321,550,110	243,657,035	--
Money Market Funds	342,497,406	342,497,406	--	--
Total Investments in Securities:	$9,208,359,883	$5,993,144,932	$3,215,214,951	$--

See accompanying notes which are an integral part of the financial statements.

Financial Statements

Statement of Assets and Liabilities

		October 31, 2021
Assets
Investment in securities, at value (including securities loaned of $167,797,731) — See accompanying schedule: Unaffiliated issuers (cost $6,603,861,645)	$8,865,862,477
Fidelity Central Funds (cost $342,497,406)	342,497,406
Total Investment in Securities (cost $6,946,359,051)		$9,208,359,883
Foreign currency held at value (cost $6,711,189)		6,710,728
Receivable for investments sold		11,936,030
Receivable for fund shares sold		7,373,234
Dividends receivable		5,062,345
Reclaims receivable		4,898,424
Distributions receivable from Fidelity Central Funds		16,501
Prepaid expenses		10,939
Other receivables		1,693,634
Total assets		9,246,061,718
Liabilities
Payable for investments purchased	$117,539,000
Payable for fund shares redeemed	6,700,090
Accrued management fee	5,655,362
Distribution and service plan fees payable	335,399
Other affiliated payables	1,167,521
Other payables and accrued expenses	10,642,019
Collateral on securities loaned	176,107,850
Total liabilities		318,147,241
Net Assets		$8,927,914,477
Net Assets consist of:
Paid in capital		$6,355,891,927
Total accumulated earnings (loss)		2,572,022,550
Net Assets		$8,927,914,477
Net Asset Value and Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($592,640,237 ÷ 19,288,809 shares)^(a)		$30.72
Maximum offering price per share (100/94.25 of $30.72)		$32.59
Class M:
Net Asset Value and redemption price per share ($191,996,518 ÷ 6,438,899 shares)^(a)		$29.82
Maximum offering price per share (100/96.50 of $29.82)		$30.90
Class C:
Net Asset Value and offering price per share ($169,018,177 ÷ 6,358,674 shares)^(a)		$26.58
Class I:
Net Asset Value, offering price and redemption price per share ($6,128,292,516 ÷ 186,148,369 shares)		$32.92
Class Z:
Net Asset Value, offering price and redemption price per share ($1,845,967,029 ÷ 55,948,042 shares)		$32.99

(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Statement of Operations

		Year ended October 31, 2021
Investment Income
Dividends		$79,354,766
Non-Cash dividends		4,888,494
Income from Fidelity Central Funds (including $75,178 from security lending)		139,229
Income before foreign taxes withheld		84,382,489
Less foreign taxes withheld		(10,937,391)
Total income		73,445,098
Expenses
Management fee
Basic fee	$53,162,081
Performance adjustment	7,411,052
Transfer agent fees	11,141,961
Distribution and service plan fees	3,784,966
Accounting fees	1,683,057
Custodian fees and expenses	752,501
Independent trustees' fees and expenses	29,108
Registration fees	308,602
Audit	83,285
Legal	13,695
Interest	5,905
Miscellaneous	30,127
Total expenses before reductions	78,406,340
Expense reductions	(130,007)
Total expenses after reductions		78,276,333
Net investment income (loss)		(4,831,235)
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers (net of foreign taxes of $1,448)	459,392,088
Fidelity Central Funds	492
Foreign currency transactions	(3,080,245)
Total net realized gain (loss)		456,312,335
Change in net unrealized appreciation (depreciation) on:
Investment securities:
Unaffiliated issuers (net of increase in deferred foreign taxes of $7,558,949)	1,278,859,732
Assets and liabilities in foreign currencies	(108,521)
Total change in net unrealized appreciation (depreciation)		1,278,751,211
Net gain (loss)		1,735,063,546
Net increase (decrease) in net assets resulting from operations		$1,730,232,311

See accompanying notes which are an integral part of the financial statements.

Statement of Changes in Net Assets

	Year ended October 31, 2021	Year ended October 31, 2020
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$(4,831,235)	$9,012,207
Net realized gain (loss)	456,312,335	(53,869,505)
Change in net unrealized appreciation (depreciation)	1,278,751,211	579,614,534
Net increase (decrease) in net assets resulting from operations	1,730,232,311	534,757,236
Distributions to shareholders	(7,793,676)	(16,322,919)
Share transactions - net increase (decrease)	1,540,342,078	2,204,850,214
Total increase (decrease) in net assets	3,262,780,713	2,723,284,531
Net Assets
Beginning of period	5,665,133,764	2,941,849,233
End of period	$8,927,914,477	$5,665,133,764

See accompanying notes which are an integral part of the financial statements.

Financial Highlights

Fidelity Advisor International Capital Appreciation Fund Class A

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$24.14	$21.45	$17.63	$19.14	$15.26
Income from Investment Operations
Net investment income (loss)^A	(.09)	–^B	.11^C	.07	.04
Net realized and unrealized gain (loss)	6.67	2.77	3.75	(1.57)	3.86
Total from investment operations	6.58	2.77	3.86	(1.50)	3.90
Distributions from net investment income	–	(.08)	(.04)	(.01)	(.02)
Total distributions	–	(.08)	(.04)	(.01)	(.02)
Redemption fees added to paid in capital^A	–	–	–	–	–^B
Net asset value, end of period	$30.72	$24.14	$21.45	$17.63	$19.14
Total Return^D,^E	27.26%	12.97%	21.93%	(7.85)%	25.56%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.23%	1.28%	1.27%	1.29%	1.38%
Expenses net of fee waivers, if any	1.23%	1.28%	1.27%	1.29%	1.37%
Expenses net of all reductions	1.23%	1.24%	1.25%	1.23%	1.35%
Net investment income (loss)	(.30)%	(.01)%	.57%^C	.35%	.21%
Supplemental Data
Net assets, end of period (000 omitted)	$592,640	$382,795	$278,326	$190,278	$173,948
Portfolio turnover rate^H	128%	121%	133%	151%	155%

^A Calculated based on average shares outstanding during the period.

^B Amount represents less than $.005 per share.

^C Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .15%.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the sales charges.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor International Capital Appreciation Fund Class M

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$23.49	$20.89	$17.17	$18.68	$14.92
Income from Investment Operations
Net investment income (loss)^A	(.15)	(.06)	.06^B	.02	(.01)
Net realized and unrealized gain (loss)	6.48	2.70	3.66	(1.53)	3.77
Total from investment operations	6.33	2.64	3.72	(1.51)	3.76
Distributions from net investment income	–	(.04)	–	–	–
Total distributions	–	(.04)	–	–	–
Redemption fees added to paid in capital^A	–	–	–	–	–^C
Net asset value, end of period	$29.82	$23.49	$20.89	$17.17	$18.68
Total Return^D,^E	26.95%	12.67%	21.67%	(8.08)%	25.20%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.49%	1.53%	1.53%	1.55%	1.63%
Expenses net of fee waivers, if any	1.48%	1.53%	1.53%	1.55%	1.63%
Expenses net of all reductions	1.48%	1.49%	1.51%	1.49%	1.61%
Net investment income (loss)	(.55)%	(.26)%	.31%^B	.10%	(.04)%
Supplemental Data
Net assets, end of period (000 omitted)	$191,997	$143,072	$127,176	$87,750	$86,547
Portfolio turnover rate^H	128%	121%	133%	151%	155%

^A Calculated based on average shares outstanding during the period.

^B Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.11)%.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the sales charges.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor International Capital Appreciation Fund Class C

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$21.04	$18.77	$15.51	$16.95	$13.61
Income from Investment Operations
Net investment income (loss)^A	(.26)	(.15)	(.03)^B	(.07)	(.08)
Net realized and unrealized gain (loss)	5.80	2.42	3.29	(1.37)	3.42
Total from investment operations	5.54	2.27	3.26	(1.44)	3.34
Redemption fees added to paid in capital^A	–	–	–	–	–^C
Net asset value, end of period	$26.58	$21.04	$18.77	$15.51	$16.95
Total Return^D,^E	26.33%	12.09%	21.02%	(8.50)%	24.54%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.98%	2.02%	2.02%	2.04%	2.13%
Expenses net of fee waivers, if any	1.98%	2.02%	2.01%	2.04%	2.12%
Expenses net of all reductions	1.98%	1.99%	2.00%	1.99%	2.10%
Net investment income (loss)	(1.05)%	(.75)%	(.17)%^B	(.40)%	(.54)%
Supplemental Data
Net assets, end of period (000 omitted)	$169,018	$125,630	$112,150	$107,858	$85,022
Portfolio turnover rate^H	128%	121%	133%	151%	155%

^A Calculated based on average shares outstanding during the period.

^B Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.07 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.60)%.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the contingent deferred sales charge.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor International Capital Appreciation Fund Class I

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$25.83	$22.93	$18.85	$20.44	$16.30
Income from Investment Operations
Net investment income (loss)^A	(.01)	.06	.18^B	.13	.09
Net realized and unrealized gain (loss)	7.13	2.97	4.00	(1.68)	4.11
Total from investment operations	7.12	3.03	4.18	(1.55)	4.20
Distributions from net investment income	(.03)	(.13)	(.10)	(.04)	(.06)
Total distributions	(.03)	(.13)	(.10)	(.04)	(.06)
Redemption fees added to paid in capital^A	–	–	–	–	–^C
Net asset value, end of period	$32.92	$25.83	$22.93	$18.85	$20.44
Total Return^D	27.60%	13.28%	22.29%	(7.58)%	25.87%
Ratios to Average Net Assets^E,^F
Expenses before reductions	.97%	1.01%	.99%	1.02%	1.09%
Expenses net of fee waivers, if any	.97%	1.01%	.99%	1.02%	1.08%
Expenses net of all reductions	.97%	.97%	.98%	.96%	1.06%
Net investment income (loss)	(.04)%	.26%	.85%^B	.63%	.50%
Supplemental Data
Net assets, end of period (000 omitted)	$6,128,293	$3,883,309	$2,020,956	$1,115,089	$652,774
Portfolio turnover rate^G	128%	121%	133%	151%	155%

^A Calculated based on average shares outstanding during the period.

^B Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .43%.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor International Capital Appreciation Fund Class Z

Years ended October 31,	2021	2020	2019	2018	2017 ^A
Selected Per–Share Data
Net asset value, beginning of period	$25.88	$22.96	$18.88	$20.46	$16.22
Income from Investment Operations
Net investment income (loss)^B	.03	.09	.21^C	.16	.06
Net realized and unrealized gain (loss)	7.14	2.98	3.99	(1.68)	4.18
Total from investment operations	7.17	3.07	4.20	(1.52)	4.24
Distributions from net investment income	(.06)	(.15)	(.12)	(.06)	–
Total distributions	(.06)	(.15)	(.12)	(.06)	–
Redemption fees added to paid in capital^B	–	–	–	–	–^D
Net asset value, end of period	$32.99	$25.88	$22.96	$18.88	$20.46
Total Return^E,^F	27.73%	13.45%	22.41%	(7.46)%	26.14%
Ratios to Average Net Assets^G,^H
Expenses before reductions	.85%	.88%	.87%	.89%	.96%^I
Expenses net of fee waivers, if any	.85%	.88%	.87%	.89%	.96%^I
Expenses net of all reductions	.85%	.84%	.85%	.83%	.94%^I
Net investment income (loss)	.09%	.39%	.97%^C	.76%	.42%^I
Supplemental Data
Net assets, end of period (000 omitted)	$1,845,967	$1,130,329	$403,241	$153,913	$59,734
Portfolio turnover rate^J	128%	121%	133%	151%	155%

^A For the period February 1, 2017 (commencement of sale of shares) through October 31, 2017.

^B Calculated based on average shares outstanding during the period.

^C Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .55%.

^D Amount represents less than $.005 per share.

^E Total returns for periods of less than one year are not annualized.

^F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^I Annualized

^J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Notes to Financial Statements

For the period ended October 31, 2021

1. Organization.

Fidelity Advisor International Capital Appreciation Fund (the Fund) is a fund of Fidelity Advisor Series VIII (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Effective June 21, 2021, Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. Prior to June 21, 2021, Class C shares automatically converted to Class A shares after a holding period of ten years from the initial date of purchase, with certain exceptions.

2. Investments in Fidelity Central Funds.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense Ratio^(a)
Fidelity Money Market Central Funds	Fidelity Management & Research Company LLC (FMR)	Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.	Short-term Investments	Less than .005%

(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

3. Significant Accounting Policies.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 – quoted prices in active markets for identical investments
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign taxes withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.

Book-tax differences are primarily due to foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), net operating losses, capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$2,301,688,609
Gross unrealized depreciation	(50,253,416)
Net unrealized appreciation (depreciation)	$2,251,435,193
Tax Cost	$6,956,924,690

The tax-based components of distributable earnings as of period end were as follows:

Undistributed ordinary income	$48,554,279
Undistributed long-term capital gain	$282,250,685
Net unrealized appreciation (depreciation) on securities and other investments	$2,251,415,262

The tax character of distributions paid was as follows:

	October 31, 2021	October 31, 2020
Ordinary Income	$7,793,676	$ 16,322,919

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Advisor International Capital Appreciation Fund	11,326,150,759	9,841,548,691

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .45% of the Fund's average net assets and an annualized group fee rate that averaged .23% during the period. The group fee rate is based upon the monthly average net assets of a group of registered investment companies with which the investment adviser has management contracts. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of +/- .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of Class I of the Fund as compared to its benchmark index, the MSCI All Country World ex USA Index, over the same 36 month performance period. For the reporting period, the total annual management fee rate, including the performance adjustment, was .77% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

	Distribution Fee	Service Fee	Total Fees	Retained by FDC
Class A	-%	.25%	$1,304,181	$94,814
Class M	.25%	.25%	925,020	1,673
Class C	.75%	.25%	1,555,765	340,426
			$3,784,966	$436,913

For the period, sales charge amounts retained by FDC were as follows:

	Retained by FDC
Class A	$305,986
Class M	20,755
Class C^(a)	4,933
	$331,674

(a) When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
Class A	$934,036	.18
Class M	334,547	.18
Class C	276,901	.18
Class I	8,895,381	.17
Class Z	701,096	.04
	$11,141,961

	% of Average Net Assets
Fidelity Advisor International Capital Appreciation Fund	.02

	Amount
Fidelity Advisor International Capital Appreciation Fund	$29,211

	Borrower or Lender	Average Loan Balance	Weighted Average Interest Rate	Interest Expense
Fidelity Advisor International Capital Appreciation Fund	Borrower	$22,390,867	.32%	$5,905

	Purchases ($)	Sales ($)	Realized Gain (Loss) ($)
Fidelity Advisor International Capital Appreciation Fund	364,292,652	349,884,167	13,377,856

6. Committed Line of Credit.

	Amount
Fidelity Advisor International Capital Appreciation Fund	$13,612

7. Security Lending.

	Total Security Lending Fees Paid to NFS	Security Lending Income From Securities Loaned to NFS	Value of Securities Loaned to NFS at Period End
Fidelity Advisor International Capital Appreciation Fund	$7,382	$–	$–

8. Expense Reductions.

During the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $130,007.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor International Capital Appreciation Fund
Distributions to shareholders
Class A	$–	$1,134,328
Class M	–	266,828
Class I	5,163,920	12,038,964
Class Z	2,629,756	2,882,799
Total	$7,793,676	$16,322,919

10. Share Transactions.

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

	Shares	Shares	Dollars	Dollars
	Year ended October 31, 2021	Year ended October 31, 2020	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor International Capital Appreciation Fund
Class A
Shares sold	7,126,167	8,078,842	$201,623,517	$180,270,017
Reinvestment of distributions	–	49,995	–	1,099,382
Shares redeemed	(3,692,803)	(5,247,418)	(106,277,668)	(116,402,682)
Net increase (decrease)	3,433,364	2,881,419	$95,345,849	$64,966,717
Class M
Shares sold	1,885,806	1,596,388	$51,940,039	$34,285,102
Reinvestment of distributions	–	12,373	–	265,276
Shares redeemed	(1,537,765)	(1,606,705)	(43,022,367)	(33,691,271)
Net increase (decrease)	348,041	2,056	$8,917,672	$859,107
Class C
Shares sold	1,692,919	1,790,514	$41,595,438	$35,004,549
Shares redeemed	(1,304,284)	(1,796,494)	(32,315,690)	(34,399,127)
Net increase (decrease)	388,635	(5,980)	$9,279,748	$605,422
Class I
Shares sold	73,170,455	101,769,805	$2,212,098,489	$2,404,469,112
Reinvestment of distributions	142,401	424,968	4,041,327	9,973,988
Shares redeemed	(37,497,487)	(39,995,044)	(1,149,304,478)	(909,703,489)
Net increase (decrease)	35,815,369	62,199,729	$1,066,835,338	$1,504,739,611
Class Z
Shares sold	26,964,454	34,619,740	$812,999,942	$830,772,225
Reinvestment of distributions	71,609	97,435	2,034,402	2,287,763
Shares redeemed	(14,766,822)	(8,598,668)	(455,070,873)	(199,380,631)
Net increase (decrease)	12,269,241	26,118,507	$359,963,471	$633,679,357

11. Other.

12. Coronavirus (COVID-19) Pandemic.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Advisor Series VIII and Shareholders of Fidelity Advisor International Capital Appreciation Fund

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities of Fidelity Advisor International Capital Appreciation Fund (the "Fund"), a fund of Fidelity Advisor Series VIII, including the schedule of investments, as of October 31, 2021, the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of October 31, 2021, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

/s/ Deloitte & Touche LLP

Boston, Massachusetts

December 15, 2021

We have served as the auditor of one or more of the Fidelity investment companies since 1999.

Trustees and Officers

The fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-877-208-0098.

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Bettina Doulton (1964)

Year of Election or Appointment: 2021

Trustee

Robert A. Lawrence (1952)

Year of Election or Appointment: 2020

Trustee

Acting Chairman of the Board of Trustees

* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Thomas P. Bostick (1956)

Year of Election or Appointment: 2021

Trustee

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Vicki L. Fuller (1957)

Year of Election or Appointment: 2020

Trustee

Patricia L. Kampling (1959)

Year of Election or Appointment: 2020

Trustee

Thomas A. Kennedy (1955)

Year of Election or Appointment: 2021

Trustee

Oscar Munoz (1959)

Year of Election or Appointment: 2021

Trustee

Garnett A. Smith (1947)

Year of Election or Appointment: 2018

Trustee

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Lead Independent Trustee

Susan Tomasky (1953)

Year of Election or Appointment: 2020

Trustee

Michael E. Wiley (1950)

Year of Election or Appointment: 2020

Trustee

Advisory Board Members and Officers:

Name, Year of Birth; Principal Occupation

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Craig S. Brown (1977)

Year of Election or Appointment: 2019

Assistant Treasurer

Mr. Brown also serves as an officer of other funds. Mr. Brown serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2013-present).

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

William C. Coffey (1969)

Year of Election or Appointment: 2019

Assistant Secretary

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Colm A. Hogan (1973)

Year of Election or Appointment: 2020

Assistant Treasurer

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Cynthia Lo Bessette (1969)

Year of Election or Appointment: 2019

Secretary and Chief Legal Officer (CLO)

Chris Maher (1972)

Year of Election or Appointment: 2020

Deputy Treasurer

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2020

Chief Compliance Officer

Brett Segaloff (1972)

Year of Election or Appointment: 2021

Anti-Money Laundering (AML) Officer

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Jim Wegmann (1979)

Year of Election or Appointment: 2019

Assistant Treasurer

Shareholder Expense Example

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2021 to October 31, 2021).

Actual Expenses

Hypothetical Example for Comparison Purposes

	Annualized Expense Ratio-^A	Beginning Account Value May 1, 2021	Ending Account Value October 31, 2021	Expenses Paid During Period-^B May 1, 2021 to October 31, 2021
Fidelity Advisor International Capital Appreciation Fund
Class A	1.23%
Actual		$1,000.00	$1,076.80	$6.44
Hypothetical-^C		$1,000.00	$1,019.00	$6.26
Class M	1.48%
Actual		$1,000.00	$1,075.80	$7.74
Hypothetical-^C		$1,000.00	$1,017.74	$7.53
Class C	1.98%
Actual		$1,000.00	$1,073.10	$10.35
Hypothetical-^C		$1,000.00	$1,015.22	$10.06
Class I	.97%
Actual		$1,000.00	$1,078.30	$5.08
Hypothetical-^C		$1,000.00	$1,020.32	$4.94
Class Z	.85%
Actual		$1,000.00	$1,078.80	$4.45
Hypothetical-^C		$1,000.00	$1,020.92	$4.33

^A Annualized expense ratio reflects expenses net of applicable fee waivers.

^C 5% return per year before expenses

Distributions (Unaudited)

The Board of Trustees of Fidelity Advisor International Capital Appreciation Fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities:

	Pay Date	Record Date	Capital Gains
Fidelity Advisor International Capital Appreciation Fund
Class A	12/6/2021	12/3/2021	$1.1390
Class M	12/6/2021	12/3/2021	$1.0580
Class C	12/6/2021	12/3/2021	$1.0250
Class I	12/6/2021	12/3/2021	$1.2070
Class Z	12/6/2021	12/3/2021	$1.2420

The fund hereby designates as a capital gain dividend with respect to the taxable year ended October 31, 2021, $282,250,685, or, if subsequently determined to be different, the net capital gain of such year.

Class I designates 11%; and Class Z designates 8%; of the dividends distributed during the fiscal year as qualifying for the dividends–received deduction for corporate shareholders.

Class I and Class Z designate 100% of the, dividends distributed during the fiscal year as amounts which may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

The amounts per share which represent income derived from sources within, and taxes paid to, foreign countries or possessions of the United States are as follows:

	Pay Date	Income	Taxes
Fidelity Advisor International Capital Appreciation Fund
Class A	12/07/2020	$0.0000	$0.0000
Class M	12/07/2020	$0.0000	$0.0000
Class C	12/07/2020	$0.0000	$0.0000
Class I	12/07/2020	$0.0605	$0.0275
Class Z	12/07/2020	$0.0845	$0.0275

The fund will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Advisor International Capital Appreciation Fund

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

Management Fee. The Board considered two proprietary management fee comparisons for the 12-month periods ended September 30 (June 30 for periods ended 2019 and 2018 and December 31 for periods prior to 2018) shown in basis points (BP) in the chart below. The group of Lipper funds used by the Board for management fee comparisons is referred to below as the "Total Mapped Group." The Total Mapped Group comparison focuses on a fund's standing in terms of gross management fees before expense reimbursements or caps, and without giving effect to the fund's performance adjustment, relative to the total universe of funds with comparable investment mandates, regardless of whether their management fee structures also are comparable. Funds with comparable investment mandates offer exposure to similar types of securities. Funds with comparable management fee structures have similar management fee contractual arrangements (e.g., flat rate charged for advisory services, all-inclusive fee rate, etc.). "TMG %" represents the percentage of funds in the Total Mapped Group that had management fees that were lower than the fund's. For example, a hypothetical TMG % of 20% would mean that 80% of the funds in the Total Mapped Group had higher, and 20% had lower, management fees than the fund. The fund's actual TMG %s and the number of funds in the Total Mapped Group are in the chart below. The "Asset-Sized Peer Group" (ASPG) comparison focuses on a fund's standing relative to a subset of non-Fidelity funds within the Total Mapped Group that are similar in size and management fee structure without taking into account performance adjustments, if any. For example, if a fund is in the first quartile of the ASPG, the fund's management fee ranks in the least expensive or lowest 25% of funds in the ASPG. The ASPG represents at least 15% of the funds in the Total Mapped Group with comparable asset size and management fee structures, subject to a minimum of 50 funds (or all funds in the Total Mapped Group if fewer than 50). Additional information, such as the ASPG quartile in which the fund's management fee rate ranked and the impact of the fund's performance adjustment, is also included in the chart and was considered by the Board.

Fidelity Advisor International Capital Appreciation Fund

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

Total Expense Ratio. In its review of each class's total expense ratio, the Board considered the fund's management fee rate as well as other fund or class expenses, as applicable, such as transfer agent fees, pricing and bookkeeping fees, fund-paid 12b-1 fees, and custodial, legal, and audit fees. The Board noted the impact of the fund's performance adjustment. The Board also noted that Fidelity may agree to waive fees or reimburse expenses from time to time, and the extent to which, if any, it has done so for the fund. As part of its review, the Board also considered the current and historical total expense ratios of a representative class of the fund compared to competitive fund median expenses. The fund's representative class is compared to those funds and classes in the Total Mapped Group (used by the Board for management fee comparisons) that have a similar sales load structure (SLTG). The Board also considered a total expense ASPG comparison for the representative class, which focuses on the total expenses of the representative class relative to a subset of non-Fidelity funds within the total expense SLTG. The total expense ASPG is limited to 15 larger and 15 smaller classes in fund average assets for a total of 30 classes, where possible. The total expense ASPG comparison excludes performance adjustments and fund-paid 12b-1 fees to eliminate variability in fee structures.

The Board noted that the total expense ratio of Class I ranked above the SLTG competitive median and below the ASPG competitive median for the 12-month period ended September 30, 2020. The Board considered that, in general, various factors can affect total expense ratios. The Board noted that, although Class I is categorized by Lipper as an institutional class, Class I has no investment minimum, unlike most other funds and classes categorized as institutional. As a result, FMR believes Class I is generally more comparable to retail funds and classes. The Board considered that, when compared to retail funds and classes, Class I would not be above the SLTG competitive median for 2020. The Board noted that the fund offers multiple classes, each of which has a different sales load and 12b-1 fee structure, and that the multiple structures are intended to offer a range of pricing options for the intermediary market. The Board also noted that the total expense ratios of the classes vary primarily by the level of their 12b-1 fees, although differences in transfer agent fees may also cause expenses to vary from class to class.

The Board further considered that FMR has contractually agreed to reimburse Class A, Class M, Class C, Class I, and Class Z of the fund to the extent that total operating expenses, with certain exceptions, as a percentage of their respective average net assets, exceed 1.45%, 1.70%, 2.20%, 1.20%, and 1.05% through February 28, 2022.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Fidelity Investments

AICAP-ANN-1221
1.711985.123

Fidelity Advisor® Overseas Fund

Annual Report

October 31, 2021

Contents

Note to Shareholders
Performance
Management's Discussion of Fund Performance
Investment Summary
Schedule of Investments
Financial Statements
Notes to Financial Statements
Report of Independent Registered Public Accounting Firm
Trustees and Officers
Shareholder Expense Example
Distributions
Board Approval of Investment Advisory Contracts and Management Fees

You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Note to Shareholders:

Performance: The Bottom Line

Average Annual Total Returns

For the periods ended October 31, 2021	Past 1 year	Past 5 years	Past 10 years
Class A (incl. 5.75% sales charge)	29.85%	11.83%	8.79%
Class M (incl. 3.50% sales charge)	32.69%	12.12%	8.84%
Class C (incl. contingent deferred sales charge)	35.66%	12.24%	8.75%
Class I	38.19%	13.51%	9.80%
Class Z	38.33%	13.63%	9.85%

Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.

The initial offering of Class Z shares took place on February 1, 2017. Returns prior to February 1, 2017, are those of Class I.

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Overseas Fund - Class A on October 31, 2011, and the current 5.75% sales charge was paid.

The chart shows how the value of your investment would have changed, and also shows how the MSCI EAFE Index performed over the same period.

	Period Ending Values
	$23,230	Fidelity Advisor® Overseas Fund - Class A
	$20,722	MSCI EAFE Index

Management's Discussion of Fund Performance

Comments from Portfolio Manager Vincent Montemaggiore: For the fiscal year ending October 31, 2021, the fund's share classes (excluding sales charges, if applicable) gained roughly 37% to 38%, outperforming the 34.45% result of the benchmark MSCI EAFE Index (Net MA). From a regional standpoint, an overweighting and stock picks in Europe ex U.K., especially Sweden, positioning in Japan, and a non-benchmark allocation to the U.S. contributed most to the fund's relative result. By sector, the largest contributor to performance versus the benchmark was our stock picks in industrials. A combination of security selection and an overweighting in information technology also contributed meaningfully to the fund’s relative result, as did stock picks in health care. Our top individual relative contributor was an out-of-benchmark stake in AddLife (+175%). Also lifting performance was our outsized stake in ASM International, which gained 218%. Another notable relative contributor was an overweighting in ASML Holding (+124%), which was one of the fund's biggest holdings. In contrast, stock picks in emerging markets and the U.K. hindered the fund's relative result. By sector, the primary detractor from performance versus the benchmark was our stock selection in consumer discretionary. An underweighting and security selection in energy and stock selection in financials also hampered the fund's relative performance. Our largest individual relative detractor was an out-of-benchmark stake in Alibaba Group Holding (-32%). We exited this position by period end. Iberdrola, another position that was sold during the period, returned -11% while we held it and detracted from relative performance. Avoiding Royal Dutch Shell, a benchmark component that gained 96%, also hurt relative performance. Notable changes in positioning include increased exposure to France and Germany. By sector, meaningful changes in positioning include decreased exposure to consumer staples and a higher allocation to industrials.

Investment Summary (Unaudited)

Top Five Stocks as of October 31, 2021

	% of fund's net assets
ASML Holding NV (Netherlands) (Netherlands, Semiconductors & Semiconductor Equipment)	3.0
Nestle SA (Reg. S) (Switzerland, Food Products)	2.6
LVMH Moet Hennessy Louis Vuitton SE (France, Textiles, Apparel & Luxury Goods)	2.1
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)	2.1
Sony Group Corp. (Japan, Household Durables)	1.5
	11.3

Top Five Market Sectors as of October 31, 2021

	% of fund's net assets
Industrials	23.5
Information Technology	18.0
Financials	17.1
Health Care	12.6
Consumer Discretionary	8.0

Top Five Countries as of October 31, 2021

(excluding cash equivalents)	% of fund's net assets
Japan	14.3
France	14.3
Switzerland	9.8
United Kingdom	9.1
Netherlands	9.0

Asset Allocation (% of fund's net assets)

As of October 31, 2021
	Stocks	96.3%
	Short-Term Investments and Net Other Assets (Liabilities)	3.7%

Percentages are adjusted for the effect of futures contracts and swaps, if applicable.

Schedule of Investments October 31, 2021

Showing Percentage of Net Assets

Common Stocks - 96.2%
	Shares	Value (000s)
Australia - 0.2%
Lynas Rare Earths Ltd. (a)	153,803	$848
Austria - 0.4%
Erste Group Bank AG	50,100	2,149
Bailiwick of Jersey - 0.9%
Ferguson PLC	29,000	4,364
Belgium - 1.0%
Azelis Group NV	22,300	722
KBC Groep NV	47,575	4,431

TOTAL BELGIUM		5,153

Bermuda - 1.9%
Genpact Ltd.	52,648	2,598
Hiscox Ltd.	120,473	1,373
IHS Markit Ltd.	40,036	5,234

TOTAL BERMUDA		9,205

Canada - 1.3%
Constellation Software, Inc.	3,280	5,764
Topicus.Com, Inc.	5,630	628

TOTAL CANADA		6,392

Cayman Islands - 0.6%
Parade Technologies Ltd.	44,000	2,821
Denmark - 1.9%
DSV A/S	30,704	7,136
GN Store Nord A/S	33,000	2,003

TOTAL DENMARK		9,139

Finland - 0.8%
Nordea Bank ABP	323,626	3,959
France - 14.3%
Air Liquide SA	27,200	4,541
ALTEN	22,775	3,665
Antin Infrastructure Partners SA	8,700	331
BNP Paribas SA	81,400	5,449
Capgemini SA	31,019	7,218
Compagnie de St. Gobain	51,300	3,540
Dassault Systemes SA	90,225	5,269
Edenred SA	69,254	3,744
Legrand SA	47,585	5,191
LVMH Moet Hennessy Louis Vuitton SE	12,960	10,162
Pernod Ricard SA	20,343	4,673
Safran SA	29,100	3,917
Teleperformance	14,788	6,173
Total SA	126,500	6,334

TOTAL FRANCE		70,207

Germany - 6.5%
adidas AG	11,849	3,880
Allianz SE	22,723	5,284
Auto1 Group SE (b)	4,600	181
Brenntag SE	33,000	3,137
Deutsche Borse AG	22,803	3,785
Hannover Reuck SE	21,429	3,914
Merck KGaA	22,200	5,240
SAP SE	12,949	1,875
Siemens Healthineers AG (b)	58,600	3,892
SUSE SA (a)	23,946	1,033

TOTAL GERMANY		32,221

Hong Kong - 1.4%
AIA Group Ltd.	603,500	6,763
India - 1.3%
HDFC Bank Ltd.	165,484	3,502
Reliance Industries Ltd.	81,700	2,764
Reliance Industries Ltd.	6,013	153

TOTAL INDIA		6,419

Ireland - 1.9%
Flutter Entertainment PLC (a)	11,224	2,119
Kingspan Group PLC (Ireland)	36,700	4,227
Linde PLC	9,534	3,043

TOTAL IRELAND		9,389

Italy - 2.4%
FinecoBank SpA	184,063	3,514
GVS SpA (b)	23,962	356
Moncler SpA	46,800	3,361
Recordati SpA	70,220	4,393

TOTAL ITALY		11,624

Japan - 14.3%
Advantest Corp.	24,200	1,984
Capcom Co. Ltd.	42,600	1,147
FUJIFILM Holdings Corp.	47,200	3,647
Hoya Corp.	46,531	6,850
Iriso Electronics Co. Ltd.	23,784	1,093
Kao Corp.	40,709	2,303
Keyence Corp.	8,417	5,081
Misumi Group, Inc.	29,543	1,236
Nitori Holdings Co. Ltd.	12,630	2,320
NOF Corp.	43,671	2,192
Olympus Corp.	133,276	2,887
Persol Holdings Co. Ltd.	106,360	2,859
Recruit Holdings Co. Ltd.	101,134	6,727
Relo Group, Inc.	80,146	1,667
Shin-Etsu Chemical Co. Ltd.	23,300	4,155
SMC Corp.	6,386	3,811
Sony Group Corp.	65,324	7,564
Suzuki Motor Corp.	46,771	2,086
TIS, Inc.	70,927	1,932
Tokyo Electron Ltd.	13,027	6,071
Tsuruha Holdings, Inc.	21,451	2,646

TOTAL JAPAN		70,258

Kenya - 0.4%
Safaricom Ltd.	4,605,600	1,771
Korea (South) - 0.1%
Samsung Electronics Co. Ltd.	12,776	761
Netherlands - 9.0%
Akzo Nobel NV	28,100	3,230
ASM International NV (Netherlands)	9,500	4,298
ASML Holding NV (Netherlands)	18,206	14,802
Corbion NV	300	14
Euronext NV (b)	28,375	3,195
IMCD NV	30,150	6,694
Koninklijke Philips Electronics NV	66,669	3,145
Prosus NV	36,300	3,198
Prosus NV rights (a)(c)	36,300	6
Wolters Kluwer NV	54,041	5,662

TOTAL NETHERLANDS		44,244

Norway - 0.7%
Schibsted ASA:
(A Shares)	63,700	3,285
(B Shares)	99	4

TOTAL NORWAY		3,289

Spain - 2.3%
Aena SME SA (a)(b)	15,900	2,611
Amadeus IT Holding SA Class A (a)	63,296	4,232
Cellnex Telecom SA (b)	71,876	4,419

TOTAL SPAIN		11,262

Sweden - 7.2%
Addlife AB	142,985	5,847
AddTech AB (B Shares)	165,487	3,700
ASSA ABLOY AB (B Shares)	147,363	4,324
Atlas Copco AB (A Shares)	68,873	4,425
Hexagon AB (B Shares)	364,437	5,865
Indutrade AB	193,025	5,617
Kry International AB (d)	156	64
Nordnet AB	82,500	1,582
Swedish Match Co. AB	443,110	3,900

TOTAL SWEDEN		35,324

Switzerland - 9.8%
Julius Baer Group Ltd.	62,337	4,509
Lonza Group AG	6,237	5,113
Nestle SA (Reg. S)	95,725	12,627
Roche Holding AG (participation certificate)	26,224	10,159
Sika AG	18,058	6,114
Sonova Holding AG	12,561	5,190
Zurich Insurance Group Ltd.	10,702	4,743

TOTAL SWITZERLAND		48,455

Taiwan - 0.8%
Taiwan Semiconductor Manufacturing Co. Ltd.	183,300	3,885
United Kingdom - 9.1%
Beazley PLC (a)	360,144	1,922
Bridgepoint Group Holdings Ltd. (b)	177,839	1,207
Compass Group PLC (a)	228,354	4,846
Cranswick PLC	13,238	627
Dechra Pharmaceuticals PLC	43,484	3,047
Diageo PLC	141,476	7,039
Diploma PLC	72,667	2,987
Dr. Martens Ltd. (a)	35,900	181
Future PLC	18,600	898
JTC PLC (b)	109,800	1,168
Lloyds Banking Group PLC	1	0
London Stock Exchange Group PLC	26,290	2,559
RELX PLC (London Stock Exchange)	184,784	5,725
Rentokil Initial PLC	575,833	4,637
Smith & Nephew PLC	145,879	2,519
St. James's Place Capital PLC	155,400	3,359
Volution Group PLC	320,051	2,164

TOTAL UNITED KINGDOM		44,885

United States of America - 5.7%
Ares Management Corp.	46,923	3,976
Boston Scientific Corp. (a)	48,922	2,110
CBRE Group, Inc. (a)	31,200	3,247
Equifax, Inc.	11,700	3,246
Intercontinental Exchange, Inc.	25,678	3,555
Marsh & McLennan Companies, Inc.	28,830	4,809
Moody's Corp.	7,700	3,112
Roper Technologies, Inc.	7,944	3,876

TOTAL UNITED STATES OF AMERICA		27,931

TOTAL COMMON STOCKS
(Cost $312,095)		472,718

Nonconvertible Preferred Stocks - 0.1%
Sweden - 0.1%
Kry International AB Series E (d)
(Cost $412)	901	392

Money Market Funds - 3.7%
Fidelity Cash Central Fund 0.06% (e)
(Cost $18,433)	18,429,271	18,433
TOTAL INVESTMENT IN SECURITIES - 100.0%
(Cost $330,940)		491,543
NET OTHER ASSETS (LIABILITIES) - 0.0%		32
NET ASSETS - 100%		$491,575

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Values shown as $0 in the Schedule of Investments may reflect amounts less than $500.

Legend

(a) Non-income producing

(d) Level 3 security

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Fund (Amounts in thousands)	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Realized Gain/Loss	Change in Unrealized appreciation (depreciation)	Value, end of period	% ownership, end of period
Fidelity Cash Central Fund 0.06%	$6,062	$103,021	$90,650	$3	$--	$--	$18,433	0.0%
Fidelity Securities Lending Cash Central Fund 0.06%	--	15,283	15,283	14	--	--	--	0.0%
Total	$6,062	$118,304	$105,933	$17	$--	$--	$18,433

Investment Valuation

	Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
(Amounts in thousands)
Investments in Securities:
Equities:
Communication Services	$11,524	$10,377	$1,147	$--
Consumer Discretionary	39,904	12,920	26,984	--
Consumer Staples	33,815	9,200	24,615	--
Energy	9,251	2,917	6,334	--
Financials	84,150	56,625	27,525	--
Health Care	62,751	37,191	25,560	--
Industrials	113,942	79,726	34,216	--
Information Technology	88,722	36,001	52,265	456
Materials	24,137	13,249	10,888	--
Real Estate	4,914	3,247	1,667	--
Money Market Funds	18,433	18,433	--	--
Total Investments in Securities:	$491,543	$279,886	$211,201	$456

See accompanying notes which are an integral part of the financial statements.

Financial Statements

Statement of Assets and Liabilities

Amounts in thousands (except per-share amounts)		October 31, 2021
Assets
Investment in securities, at value — See accompanying schedule: Unaffiliated issuers (cost $312,507)	$473,110
Fidelity Central Funds (cost $18,433)	18,433
Total Investment in Securities (cost $330,940)		$491,543
Foreign currency held at value (cost $13)		13
Receivable for investments sold		2,593
Receivable for fund shares sold		265
Dividends receivable		658
Reclaims receivable		1,020
Distributions receivable from Fidelity Central Funds		2
Prepaid expenses		1
Other receivables		84
Total assets		496,179
Liabilities
Payable for investments purchased
Regular delivery	$3,227
Delayed delivery	6
Payable for fund shares redeemed	525
Accrued management fee	338
Distribution and service plan fees payable	113
Other affiliated payables	79
Other payables and accrued expenses	316
Total liabilities		4,604
Net Assets		$491,575
Net Assets consist of:
Paid in capital		$321,989
Total accumulated earnings (loss)		169,586
Net Assets		$491,575
Net Asset Value and Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($55,939.83 ÷ 1,641.91 shares)^(a)		$34.07
Maximum offering price per share (100/94.25 of $34.07)		$36.15
Class M:
Net Asset Value and redemption price per share ($238,277.78 ÷ 6,820.06 shares)^(a)		$34.94
Maximum offering price per share (100/96.50 of $34.94)		$36.21
Class C:
Net Asset Value and offering price per share ($4,879.31 ÷ 149.27 shares)^(a)		$32.69
Class I:
Net Asset Value, offering price and redemption price per share ($84,715.42 ÷ 2,418.41 shares)		$35.03
Class Z:
Net Asset Value, offering price and redemption price per share ($107,763.97 ÷ 3,081.20 shares)		$34.97

(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Statement of Operations

Amounts in thousands		Year ended October 31, 2021
Investment Income
Dividends		$6,611
Foreign tax reclaims		353
Income from Fidelity Central Funds (including $14 from security lending)		17
Income before foreign taxes withheld		6,981
Less foreign taxes withheld		(1,043)
Total income		5,938
Expenses
Management fee
Basic fee	$2,945
Performance adjustment	988
Transfer agent fees	695
Distribution and service plan fees	1,338
Accounting fees	235
Custodian fees and expenses	88
Independent trustees' fees and expenses	2
Registration fees	72
Audit	82
Legal	3
Miscellaneous	1
Total expenses before reductions	6,449
Expense reductions	(7)
Total expenses after reductions		6,442
Net investment income (loss)		(504)
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers (net of foreign taxes of $16)	25,657
Redemptions in-kind with affiliated entities	36,597
Foreign currency transactions	(22)
Total net realized gain (loss)		62,232
Change in net unrealized appreciation (depreciation) on:
Investment securities:
Unaffiliated issuers (net of increase in deferred foreign taxes of $71)	84,265
Assets and liabilities in foreign currencies	(37)
Total change in net unrealized appreciation (depreciation)		84,228
Net gain (loss)		146,460
Net increase (decrease) in net assets resulting from operations		$145,956

See accompanying notes which are an integral part of the financial statements.

Statement of Changes in Net Assets

Amounts in thousands	Year ended October 31, 2021	Year ended October 31, 2020
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$(504)	$(226)
Net realized gain (loss)	62,232	6,573
Change in net unrealized appreciation (depreciation)	84,228	5,867
Net increase (decrease) in net assets resulting from operations	145,956	12,214
Distributions to shareholders	–	(5,689)
Share transactions - net increase (decrease)	(66,986)	(25,304)
Total increase (decrease) in net assets	78,970	(18,779)
Net Assets
Beginning of period	412,605	431,384
End of period	$491,575	$412,605

See accompanying notes which are an integral part of the financial statements.

Financial Highlights

Fidelity Advisor Overseas Fund Class A

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$24.73	$24.27	$22.48	$25.20	$20.40
Income from Investment Operations
Net investment income (loss)^A	(.04)	(.02)	.35	.28	.23
Net realized and unrealized gain (loss)	9.38	.83	2.38	(2.10)	4.78
Total from investment operations	9.34	.81	2.73	(1.82)	5.01
Distributions from net investment income	–	(.35)	(.21)	(.22)	(.20)
Distributions from net realized gain	–	–	(.73)	(.69)	(.02)
Total distributions	–	(.35)	(.94)	(.90)^B	(.21)^B
Redemption fees added to paid in capital^A	–	–	–	–	–^C
Net asset value, end of period	$34.07	$24.73	$24.27	$22.48	$25.20
Total Return^D,^E	37.77%	3.33%	12.86%	(7.48)%	24.86%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.43%	1.49%	1.21%	1.21%	1.25%
Expenses net of fee waivers, if any	1.43%	1.49%	1.21%	1.21%	1.25%
Expenses net of all reductions	1.43%	1.48%	1.19%	1.20%	1.23%
Net investment income (loss)	(.12)%	(.08)%	1.53%	1.13%	1.05%
Supplemental Data
Net assets, end of period (in millions)	$56	$46	$49	$44	$69
Portfolio turnover rate^H	33%^I	46%	45%^I	39%	42%

^A Calculated based on average shares outstanding during the period.

^B Total distributions per share do not sum due to rounding.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the sales charges.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^I Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Overseas Fund Class M

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$25.41	$24.94	$23.06	$25.84	$20.91
Income from Investment Operations
Net investment income (loss)^A	(.11)	(.07)	.31	.23	.19
Net realized and unrealized gain (loss)	9.64	.84	2.45	(2.15)	4.90
Total from investment operations	9.53	.77	2.76	(1.92)	5.09
Distributions from net investment income	–	(.30)	(.15)	(.17)	(.15)
Distributions from net realized gain	–	–	(.73)	(.69)	(.02)
Total distributions	–	(.30)	(.88)	(.86)	(.16)^B
Redemption fees added to paid in capital^A	–	–	–	–	–^C
Net asset value, end of period	$34.94	$25.41	$24.94	$23.06	$25.84
Total Return^D,^E	37.50%	3.09%	12.65%	(7.71)%	24.57%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.65%	1.71%	1.42%	1.44%	1.46%
Expenses net of fee waivers, if any	1.65%	1.70%	1.42%	1.43%	1.46%
Expenses net of all reductions	1.65%	1.70%	1.40%	1.43%	1.44%
Net investment income (loss)	(.34)%	(.29)%	1.32%	.90%	.84%
Supplemental Data
Net assets, end of period (in millions)	$238	$194	$221	$218	$272
Portfolio turnover rate^H	33%^I	46%	45%^I	39%	42%

^A Calculated based on average shares outstanding during the period.

^B Total distributions per share do not sum due to rounding.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the sales charges.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^I Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Overseas Fund Class C

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$23.92	$23.46	$21.72	$24.41	$19.74
Income from Investment Operations
Net investment income (loss)^A	(.28)	(.21)	.15	.07	.05
Net realized and unrealized gain (loss)	9.05	.80	2.32	(2.02)	4.64
Total from investment operations	8.77	.59	2.47	(1.95)	4.69
Distributions from net investment income	–	(.13)	–	(.06)	(.01)
Distributions from net realized gain	–	–	(.73)	(.69)	(.02)
Total distributions	–	(.13)	(.73)	(.74)^B	(.02)^B
Redemption fees added to paid in capital^A	–	–	–	–	–^C
Net asset value, end of period	$32.69	$23.92	$23.46	$21.72	$24.41
Total Return^D,^E	36.66%	2.50%	11.94%	(8.23)%	23.81%
Ratios to Average Net Assets^F,^G
Expenses before reductions	2.25%	2.31%	2.03%	2.03%	2.06%
Expenses net of fee waivers, if any	2.25%	2.31%	2.03%	2.03%	2.05%
Expenses net of all reductions	2.25%	2.30%	2.02%	2.02%	2.04%
Net investment income (loss)	(.94)%	(.89)%	.70%	.31%	.24%
Supplemental Data
Net assets, end of period (in millions)	$5	$5	$6	$13	$17
Portfolio turnover rate^H	33%^I	46%	45%^I	39%	42%

^A Calculated based on average shares outstanding during the period.

^B Total distributions per share do not sum due to rounding.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the contingent deferred sales charge.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^I Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Overseas Fund Class I

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$25.35	$24.79	$22.99	$25.74	$20.86
Income from Investment Operations
Net investment income (loss)^A	.06	.07	.42	.36	.31
Net realized and unrealized gain (loss)	9.62	.84	2.43	(2.15)	4.87
Total from investment operations	9.68	.91	2.85	(1.79)	5.18
Distributions from net investment income	–	(.35)	(.32)	(.28)	(.29)
Distributions from net realized gain	–	–	(.73)	(.69)	(.02)
Total distributions	–	(.35)	(1.05)	(.96)^B	(.30)^B
Redemption fees added to paid in capital^A	–	–	–	–	–^C
Net asset value, end of period	$35.03	$25.35	$24.79	$22.99	$25.74
Total Return^D	38.19%	3.68%	13.21%	(7.23)%	25.24%
Ratios to Average Net Assets^E,^F
Expenses before reductions	1.12%	1.15%	.91%	.92%	.95%
Expenses net of fee waivers, if any	1.12%	1.15%	.91%	.92%	.94%
Expenses net of all reductions	1.12%	1.14%	.90%	.91%	.92%
Net investment income (loss)	.19%	.27%	1.82%	1.42%	1.35%
Supplemental Data
Net assets, end of period (in millions)	$85	$121	$117	$305	$306
Portfolio turnover rate^G	33%^H	46%	45%^H	39%	42%

^A Calculated based on average shares outstanding during the period.

^B Total distributions per share do not sum due to rounding.

^C Amount represents less than $.005 per share.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^H Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Overseas Fund Class Z

Years ended October 31,	2021	2020	2019	2018	2017 ^A
Selected Per–Share Data
Net asset value, beginning of period	$25.28	$24.79	$23.00	$25.76	$20.88
Income from Investment Operations
Net investment income (loss)^B	.09	.09	.45	.38	.19
Net realized and unrealized gain (loss)	9.60	.84	2.43	(2.14)	4.69
Total from investment operations	9.69	.93	2.88	(1.76)	4.88
Distributions from net investment income	–	(.44)	(.36)	(.31)	–
Distributions from net realized gain	–	–	(.73)	(.69)	–
Total distributions	–	(.44)	(1.09)	(1.00)	–
Net asset value, end of period	$34.97	$25.28	$24.79	$23.00	$25.76
Total Return^C,^D	38.33%	3.77%	13.38%	(7.13)%	23.37%
Ratios to Average Net Assets^E,^F
Expenses before reductions	1.02%	1.07%	.77%	.79%	.82%^G
Expenses net of fee waivers, if any	1.02%	1.06%	.77%	.79%	.82%^G
Expenses net of all reductions	1.02%	1.05%	.76%	.78%	.80%^G
Net investment income (loss)	.29%	.35%	1.96%	1.55%	1.02%^G
Supplemental Data
Net assets, end of period (in millions)	$108	$47	$38	$47	$2
Portfolio turnover rate^H	33%^I	46%	45%^I	39%	42%

^A For the period February 1, 2017 (commencement of sale of shares) through October 31, 2017.

^B Calculated based on average shares outstanding during the period.

^C Total returns for periods of less than one year are not annualized.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^G Annualized

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

^I Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Notes to Financial Statements

For the period ended October 31, 2021
(Amounts in thousands except percentages)

1. Organization.

Fidelity Advisor Overseas Fund (the Fund) is a fund of Fidelity Advisor Series VIII (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Effective June 21, 2021, Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. Prior to June 21, 2021, Class C shares automatically converted to Class A shares after a holding period of ten years from the initial date of purchase, with certain exceptions.

2. Investments in Fidelity Central Funds.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense Ratio^(a)
Fidelity Money Market Central Funds	Fidelity Management & Research Company LLC (FMR)	Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.	Short-term Investments	Less than .005%

(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

3. Significant Accounting Policies.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 – quoted prices in active markets for identical investments
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign tax reclaims. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign tax reclaims. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), certain foreign taxes, net operating losses, capital loss carryforwards, redemptions in kind and losses deferred due to wash sales and excise tax regulations.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$167,003
Gross unrealized depreciation	(7,308)
Net unrealized appreciation (depreciation)	$159,695
Tax Cost	$331,848

The tax-based components of distributable earnings as of period end were as follows:

Undistributed long-term capital gain	$10,191
Net unrealized appreciation (depreciation) on securities and other investments	$159,664

The Fund intends to elect to defer to its next fiscal year $26 of ordinary losses recognized during the period January 1, 2021 to October 31, 2021.

The tax character of distributions paid was as follows:

	October 31, 2021	October 31, 2020
Ordinary Income	$–	$ 5,689

Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Advisor Overseas Fund	160,161	145,744

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .424% of the Fund's average net assets and an annualized group fee rate that averaged .23% during the period. The group fee rate is based upon the monthly average net assets of a group of registered investment companies with which the investment adviser has management contracts. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of +/- .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the investment performance of the asset-weighted return of all classes as compared to its benchmark index, the MSCI EAFE Index, over the same 36 month performance period. For the reporting period, the total annual management fee rate, including the performance adjustment, was .87% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

	Distribution Fee	Service Fee	Total Fees	Retained by FDC
Class A	-%	.25%	$132	$4
Class M	.25%	.25%	1,150	13
Class C	.75%	.25%	56	3
			$1,338	$20

For the period, sales charge amounts retained by FDC were as follows:

	Retained by FDC
Class A	$4
Class M	2
Class C^(a)	–^(b)
	$6

(a) When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

(b) In the amount of less than five hundred dollars.

For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
Class A	$108	.20
Class M	403	.17
Class C	15	.27
Class I	141	.14
Class Z	28	.04
	$695

	% of Average Net Assets
Fidelity Advisor Overseas Fund	.05

	Amount
Fidelity Advisor Overseas Fund	$–^(a)

(a) In the amount of less than five hundred dollars.

	Borrower or Lender	Average Loan Balance	Weighted Average Interest Rate	Interest Expense
Fidelity Advisor Overseas Fund	Borrower	$4,443	.33%	$-^(a)

(a) In the amount of less than five hundred dollars.

	Purchases ($)	Sales ($)	Realized Gain (Loss) ($)
Fidelity Advisor Overseas Fund	4,174	12,474	1,464

Affiliated Redemptions In-Kind. Shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below. The net realized gain or loss on investments delivered through in-kind redemptions is included in the accompanying Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

	Shares	Total net realized gain or loss ($)	Total Proceeds ($)	Participating classes
Fidelity Advisor Overseas Fund	3,075	36,597	98,197	Class I

Other. During the period, the investment adviser reimbursed the Fund for certain losses as follows:

	Amount ($)
Fidelity Advisor Overseas Fund	13

6. Committed Line of Credit.

	Amount
Fidelity Advisor Overseas Fund	$1

7. Security Lending.

	Total Security Lending Fees Paid to NFS	Security Lending Income From Securities Loaned to NFS	Value of Securities Loaned to NFS at Period End
Fidelity Advisor Overseas Fund	$1	$–	$–

8. Expense Reductions.

During the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $7.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Overseas Fund
Distributions to shareholders
Class A	$–	$677
Class M	–	2,629
Class C	–	33
Class I	–	1,659
Class Z	–	691
Total	$–	$5,689

10. Share Transactions.

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

	Shares	Shares	Dollars	Dollars
	Year ended October 31, 2021	Year ended October 31, 2020	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Overseas Fund
Class A
Shares sold	157	227	$4,980	$5,341
Reinvestment of distributions	–	26	–	636
Shares redeemed	(363)	(417)	(11,120)	(10,062)
Net increase (decrease)	(206)	(164)	$(6,140)	$(4,085)
Class M
Shares sold	798	1,034	$25,071	$25,668
Reinvestment of distributions	–	102	–	2,594
Shares redeemed	(1,599)	(2,373)	(50,701)	(58,496)
Net increase (decrease)	(801)	(1,237)	$(25,630)	$(30,234)
Class C
Shares sold	13	25	$421	$580
Reinvestment of distributions	–	1	–	31
Shares redeemed	(88)	(64)	(2,670)	(1,490)
Net increase (decrease)	(75)	(38)	$(2,249)	$(879)
Class I
Shares sold	1,095	570	$35,905	$14,164
Reinvestment of distributions	–	20	–	502
Shares redeemed	(3,462)	(534)	(110,605)	(12,562)
Net increase (decrease)	(2,367)	56	$(74,700)	$2,104
Class Z
Shares sold	1,620	720	$53,591	$17,668
Reinvestment of distributions	–	7	–	181
Shares redeemed	(381)	(426)	(11,857)	(10,059)
Net increase (decrease)	1,239	301	$41,734	$7,790

11. Other.

12. Coronavirus (COVID-19) Pandemic.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Advisor Series VIII and Shareholders of Fidelity Advisor Overseas Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity Advisor Overseas Fund (one of the funds constituting Fidelity Advisor Series VIII, referred to hereafter as the “Fund”) as of October 31, 2021, the related statement of operations for the year ended October 31, 2021, the statement of changes in net assets for each of the two years in the period ended October 31, 2021, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2021, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2021 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

December 15, 2021

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

Trustees and Officers

The fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-877-208-0098.

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Bettina Doulton (1964)

Year of Election or Appointment: 2021

Trustee

Robert A. Lawrence (1952)

Year of Election or Appointment: 2020

Trustee

Acting Chairman of the Board of Trustees

* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Thomas P. Bostick (1956)

Year of Election or Appointment: 2021

Trustee

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Vicki L. Fuller (1957)

Year of Election or Appointment: 2020

Trustee

Patricia L. Kampling (1959)

Year of Election or Appointment: 2020

Trustee

Thomas A. Kennedy (1955)

Year of Election or Appointment: 2021

Trustee

Oscar Munoz (1959)

Year of Election or Appointment: 2021

Trustee

Garnett A. Smith (1947)

Year of Election or Appointment: 2018

Trustee

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Lead Independent Trustee

Susan Tomasky (1953)

Year of Election or Appointment: 2020

Trustee

Michael E. Wiley (1950)

Year of Election or Appointment: 2020

Trustee

Advisory Board Members and Officers:

Name, Year of Birth; Principal Occupation

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Craig S. Brown (1977)

Year of Election or Appointment: 2019

Assistant Treasurer

Mr. Brown also serves as an officer of other funds. Mr. Brown serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2013-present).

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

William C. Coffey (1969)

Year of Election or Appointment: 2019

Assistant Secretary

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Colm A. Hogan (1973)

Year of Election or Appointment: 2020

Assistant Treasurer

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Cynthia Lo Bessette (1969)

Year of Election or Appointment: 2019

Secretary and Chief Legal Officer (CLO)

Chris Maher (1972)

Year of Election or Appointment: 2020

Deputy Treasurer

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2020

Chief Compliance Officer

Brett Segaloff (1972)

Year of Election or Appointment: 2021

Anti-Money Laundering (AML) Officer

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Jim Wegmann (1979)

Year of Election or Appointment: 2019

Assistant Treasurer

Shareholder Expense Example

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2021 to October 31, 2021).

Actual Expenses

Hypothetical Example for Comparison Purposes

	Annualized Expense Ratio-^A	Beginning Account Value May 1, 2021	Ending Account Value October 31, 2021	Expenses Paid During Period-^B May 1, 2021 to October 31, 2021
Fidelity Advisor Overseas Fund
Class A	1.43%
Actual		$1,000.00	$1,099.40	$7.57
Hypothetical-^C		$1,000.00	$1,018.00	$7.27
Class M	1.65%
Actual		$1,000.00	$1,098.40	$8.73
Hypothetical-^C		$1,000.00	$1,016.89	$8.39
Class C	2.25%
Actual		$1,000.00	$1,095.10	$11.88
Hypothetical-^C		$1,000.00	$1,013.86	$11.42
Class I	1.11%
Actual		$1,000.00	$1,101.20	$5.88
Hypothetical-^C		$1,000.00	$1,019.61	$5.65
Class Z	1.02%
Actual		$1,000.00	$1,101.40	$5.40
Hypothetical-^C		$1,000.00	$1,020.06	$5.19

^A Annualized expense ratio reflects expenses net of applicable fee waivers.

^C 5% return per year before expenses

Distributions (Unaudited)

The Board of Trustees of Fidelity Advisor Overseas Fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities:

	Pay Date	Record Date	Capital Gains
Fidelity Advisor Overseas Fund
Class A	12/06/21	12/03/21	$0.719
Class M	12/06/21	12/03/21	$0.719
Class C	12/06/21	12/03/21	$0.719
Class I	12/06/21	12/03/21	$0.719
Class Z	12/06/21	12/03/21	$0.719

The fund hereby designates as a capital gain dividend with respect to the taxable year ended October 31, 2021, $14,269,327, or, if subsequently determined to be different, the net capital gain of such year.

The fund will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Advisor Overseas Fund

Investment Performance. The Board considered whether the fund has operated in accordance with its investment objective, as well as its record of compliance with its investment restrictions and its performance history. The Board noted that there was a portfolio management change for the fund in October 2020. The Board will continue to monitor closely the fund's performance, taking into account the portfolio management change.

Fidelity Advisor Overseas Fund

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

Management Fee. The Board considered two proprietary management fee comparisons for the 12-month periods ended September 30 (June 30 for periods ended 2019 and 2018 and December 31 for periods prior to 2018) shown in basis points (BP) in the chart below. The group of Lipper funds used by the Board for management fee comparisons is referred to below as the "Total Mapped Group." The Total Mapped Group comparison focuses on a fund's standing in terms of gross management fees before expense reimbursements or caps, and without giving effect to the fund's performance adjustment, relative to the total universe of funds with comparable investment mandates, regardless of whether their management fee structures also are comparable. Funds with comparable investment mandates offer exposure to similar types of securities. Funds with comparable management fee structures have similar management fee contractual arrangements (e.g., flat rate charged for advisory services, all-inclusive fee rate, etc.). "TMG %" represents the percentage of funds in the Total Mapped Group that had management fees that were lower than the fund's. For example, a hypothetical TMG % of 20% would mean that 80% of the funds in the Total Mapped Group had higher, and 20% had lower, management fees than the fund. The fund's actual TMG %s and the number of funds in the Total Mapped Group are in the chart below. The "Asset-Sized Peer Group" (ASPG) comparison focuses on a fund's standing relative to a subset of non-Fidelity funds within the Total Mapped Group that are similar in size and management fee structure without taking into account performance adjustments, if any. For example, if a fund is in the first quartile of the ASPG, the fund's management fee ranks in the least expensive or lowest 25% of funds in the ASPG. The ASPG represents at least 15% of the funds in the Total Mapped Group with comparable asset size and management fee structures, subject to a minimum of 50 funds (or all funds in the Total Mapped Group if fewer than 50). Additional information, such as the ASPG quartile in which the fund's management fee rate ranked and the impact of the fund's performance adjustment, is also included in the chart and was considered by the Board.

Fidelity Advisor Overseas Fund

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

Total Expense Ratio. In its review of each class's total expense ratio, the Board considered the fund's management fee rate as well as other fund or class expenses, as applicable, such as transfer agent fees, pricing and bookkeeping fees, fund-paid 12b-1 fees, and custodial, legal, and audit fees. The Board noted the impact of the fund's performance adjustment. The Board also noted that Fidelity may agree to waive fees or reimburse expenses from time to time, and the extent to which, if any, it has done so for the fund. As part of its review, the Board also considered the current and historical total expense ratios of each class of the fund compared to competitive fund median expenses. The fund's representative class is compared to those funds and classes in the Total Mapped Group (used by the Board for management fee comparisons) that have a similar sales load structure (SLTG). The Board also considered a total expense ASPG comparison for the representative class, which focuses on the total expenses of the representative class relative to a subset of non-Fidelity funds within the total expense SLTG. The total expense ASPG is limited to 15 larger and 15 smaller classes in fund average assets for a total of 30 classes, where possible. The total expense ASPG comparison excludes performance adjustments and fund-paid 12b-1 fees to eliminate variability in fee structures.

The Board noted that the total expense ratio of Class I ranked above the SLTG competitive median and below the ASPG competitive median for the 12-month period ended September 30, 2020. The Board considered that, in general, various factors can affect total expense ratios. The Board also considered that the total expense ratio for Class I was above the SLTG competitive median due to a positive performance adjustment. The Board noted that the fund offers multiple classes, each of which has a different sales load and 12b-1 fee structure, and that the multiple structures are intended to offer a range of pricing options for the intermediary market. The Board also noted that the total expense ratios of the classes vary primarily by the level of their 12b-1 fees, although differences in transfer agent fees may also cause expenses to vary from class to class.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Fidelity Investments

OS-ANN-1221
1.538536.124

Fidelity Advisor® Value Leaders Fund

Annual Report

October 31, 2021

Contents

Note to Shareholders
Performance
Management's Discussion of Fund Performance
Investment Summary
Schedule of Investments
Financial Statements
Notes to Financial Statements
Report of Independent Registered Public Accounting Firm
Trustees and Officers
Shareholder Expense Example
Distributions
Board Approval of Investment Advisory Contracts and Management Fees

You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Note to Shareholders:

Performance: The Bottom Line

Average Annual Total Returns

For the periods ended October 31, 2021	Past 1 year	Past 5 years	Past 10 years
Class A (incl. 5.75% sales charge)	34.48%	7.92%	9.56%
Class M (incl. 3.50% sales charge)	37.34%	8.18%	9.55%
Class C (incl. contingent deferred sales charge)	40.57%	8.39%	9.56%
Class I	43.08%	9.52%	10.52%

Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Value Leaders Fund - Class A on October 31, 2011, and the current 5.75% sales charge was paid.

The chart shows how the value of your investment would have changed, and also shows how the Russell 1000® Value Index performed over the same period.

	Period Ending Values
	$24,922	Fidelity Advisor® Value Leaders Fund - Class A
	$33,491	Russell 1000® Value Index

Management's Discussion of Fund Performance

Market Recap: The S&P 500^® index gained 42.91% for the 12 months ending October 31, 2021, with U.S. equities rising on the prospect of a surge in economic growth amid strong corporate earnings, widespread COVID-19 vaccination, fiscal stimulus and fresh spending programs. After the index closed 2020 at an all-time high, investors were hopeful as the new year began. The rollout of three COVID-19 vaccines was underway, the U.S. Federal Reserve pledged to hold interest rates near zero until the economy recovered, and the federal government planned to deploy trillions of dollars to boost consumers and the economy. A flattish May reflected concerns about inflation and jobs, but the rally resumed through August amid strong earnings. In early September, sentiment turned broadly negative due to a host of factors. These included inflationary pressure from surging energy/other commodity prices, rising bond yields, supply constraints and disruption, valuation concerns, and the fast-spreading delta variant of the coronavirus. In addition, the Fed signaled it could soon begin to taper the bond purchases it has made since the onset of the pandemic. The index returned -4.65% in September, its first monthly decline since January, but sharply reversed course with a 7.01% gain in October, driven by strength in earnings and notable improvement in the economy. By sector, energy gained 111% to lead by a wide margin, followed by financials (+72%), whereas the defensive utilities (+11%) and consumer staples (+19%) groups notably lagged.

Comments from Portfolio Manager Sean Gavin: For the fiscal year ending October 31, 2021, the fund's share classes (excluding sales charges, if applicable) gained about 42% to 43%, trailing the 43.76% result of the benchmark Russell 1000^® Value Index. Versus the benchmark, market selection was the primary detractor, especially in the retailing area of the consumer discretionary sector. An underweighting and stock picking in energy also hurt. Also hindering our result was an overweighting in the health care sector, primarily within the health care equipment & services industry. An investment in Bristol-Myers Squibb, the fund's biggest individual relative detractor, resulted in a return of -18% this period. The company was not held at the end of this period. Also holding back performance was our overweighting in Dollar General, which gained 7%. Also hurting performance was our lighter-than-benchmark stake in Exxon Mobil, which gained 112%. This was a position we established the past year. In contrast, the biggest contributor to performance versus the benchmark was security selection in the health care sector, primarily driven by the health care equipment & services industry. Strong picks in the communication services sector, especially within the media & entertainment industry, also bolstered the fund's relative performance. Also lifting the fund's relative result was stock selection in real estate. The fund's largest individual relative contributor was our outsized stake in Capital One Financial, which gained roughly 135%. This is a position that was sold the past 12 months. Also bolstering performance was our outsized stake in Bank of America, which gained 107%. Bank of America was among the fund's largest holdings. Another notable relative contributor was an overweighting in CBRE Group (+107%). Notable changes in positioning include increased exposure to the communication services sector and a lower allocation to consumer discretionary.

Investment Summary (Unaudited)

Top Ten Stocks as of October 31, 2021

	% of fund's net assets
Berkshire Hathaway, Inc. Class B	4.7
Samsung Electronics Co. Ltd.	3.6
Bank of America Corp.	3.5
Comcast Corp. Class A	3.1
UnitedHealth Group, Inc.	3.0
JPMorgan Chase & Co.	3.0
Exxon Mobil Corp.	2.9
CVS Health Corp.	2.9
Alphabet, Inc. Class A	2.8
Chubb Ltd.	2.7
	32.2

Top Five Market Sectors as of October 31, 2021

	% of fund's net assets
Financials	20.7
Health Care	20.1
Communication Services	9.9
Utilities	9.4
Industrials	8.7

Asset Allocation (% of fund's net assets)

As of October 31, 2021^*
	Stocks	99.2%
	Short-Term Investments and Net Other Assets (Liabilities)	0.8%

* Foreign investments - 21.6%

Schedule of Investments October 31, 2021

Showing Percentage of Net Assets

Common Stocks - 95.6%
	Shares	Value
COMMUNICATION SERVICES - 9.9%
Diversified Telecommunication Services - 2.1%
Verizon Communications, Inc.	10,513	$557,084
Interactive Media & Services - 2.8%
Alphabet, Inc. Class A (a)	249	737,269
Media - 5.0%
Comcast Corp. Class A	16,019	823,857
Interpublic Group of Companies, Inc.	14,134	516,880
		1,340,737

TOTAL COMMUNICATION SERVICES		2,635,090

CONSUMER DISCRETIONARY - 4.6%
Household Durables - 1.3%
Mohawk Industries, Inc. (a)	2,000	354,420
Multiline Retail - 1.5%
Dollar General Corp.	1,836	406,711
Specialty Retail - 1.8%
Best Buy Co., Inc.	3,882	474,536

TOTAL CONSUMER DISCRETIONARY		1,235,667

CONSUMER STAPLES - 8.2%
Food Products - 1.9%
Mondelez International, Inc.	8,123	493,391
Household Products - 6.3%
Procter & Gamble Co.	4,312	616,573
Reckitt Benckiser Group PLC	8,000	649,462
The Clorox Co.	2,600	423,826
		1,689,861

TOTAL CONSUMER STAPLES		2,183,252

ENERGY - 4.1%
Oil, Gas & Consumable Fuels - 4.1%
Exxon Mobil Corp.	12,200	786,534
Parex Resources, Inc.	16,100	312,607
		1,099,141
FINANCIALS - 20.7%
Banks - 10.3%
Bank of America Corp.	19,768	944,515
JPMorgan Chase & Co.	4,672	793,726
M&T Bank Corp.	3,265	480,347
PNC Financial Services Group, Inc.	2,500	527,575
		2,746,163
Diversified Financial Services - 4.7%
Berkshire Hathaway, Inc. Class B (a)	4,369	1,253,946
Insurance - 5.7%
Chubb Ltd.	3,696	722,124
The Travelers Companies, Inc.	3,300	530,904
Willis Towers Watson PLC	1,100	266,508
		1,519,536

TOTAL FINANCIALS		5,519,645

HEALTH CARE - 20.1%
Biotechnology - 1.2%
Regeneron Pharmaceuticals, Inc. (a)	500	319,970
Health Care Providers & Services - 12.9%
Anthem, Inc.	1,500	652,695
Centene Corp. (a)	9,150	651,846
Cigna Corp.	2,674	571,193
CVS Health Corp.	8,689	775,754
UnitedHealth Group, Inc.	1,750	805,823
		3,457,311
Pharmaceuticals - 6.0%
AstraZeneca PLC sponsored ADR	8,586	535,595
Roche Holding AG (participation certificate)	1,389	538,091
Sanofi SA sponsored ADR	10,348	521,850
		1,595,536

TOTAL HEALTH CARE		5,372,817

INDUSTRIALS - 8.7%
Aerospace & Defense - 1.9%
Northrop Grumman Corp.	1,400	500,108
Air Freight & Logistics - 0.9%
Deutsche Post AG	3,900	241,290
Electrical Equipment - 1.9%
Regal Rexnord Corp.	3,276	499,033
Industrial Conglomerates - 1.3%
Siemens AG	2,100	341,422
Machinery - 2.7%
ITT, Inc.	4,100	385,687
Oshkosh Corp.	3,305	353,635
		739,322

TOTAL INDUSTRIALS		2,321,175

INFORMATION TECHNOLOGY - 4.9%
IT Services - 3.4%
Amdocs Ltd.	5,499	428,042
Cognizant Technology Solutions Corp. Class A	6,212	485,095
		913,137
Software - 1.5%
NortonLifeLock, Inc.	15,100	384,295

TOTAL INFORMATION TECHNOLOGY		1,297,432

MATERIALS - 0.9%
Metals & Mining - 0.9%
Lundin Mining Corp.	28,300	246,276
REAL ESTATE - 4.1%
Equity Real Estate Investment Trusts (REITs) - 1.6%
American Tower Corp.	1,540	434,234
Real Estate Management & Development - 2.5%
CBRE Group, Inc. (a)	6,290	654,663

TOTAL REAL ESTATE		1,088,897

UTILITIES - 9.4%
Electric Utilities - 9.4%
Entergy Corp.	2,300	236,946
Evergy, Inc.	5,425	345,844
Exelon Corp.	12,471	663,332
PG&E Corp. (a)	37,700	437,320
PPL Corp.	10,273	295,862
Southern Co.	8,748	545,175
		2,524,479
TOTAL COMMON STOCKS
(Cost $19,718,882)		25,523,871

Nonconvertible Preferred Stocks - 3.6%
INFORMATION TECHNOLOGY - 3.6%
Technology Hardware, Storage & Peripherals - 3.6%
Samsung Electronics Co. Ltd.
(Cost $789,371)	17,461	954,322

Money Market Funds - 1.1%
Fidelity Cash Central Fund 0.06% (b)
(Cost $301,089)	301,029	301,089
TOTAL INVESTMENT IN SECURITIES - 100.3%
(Cost $20,809,342)		26,779,282
NET OTHER ASSETS (LIABILITIES) - (0.3)%		(75,750)
NET ASSETS - 100%		$26,703,532

Legend

(a) Non-income producing

(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Fund	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Realized Gain/Loss	Change in Unrealized appreciation (depreciation)	Value, end of period	% ownership, end of period
Fidelity Cash Central Fund 0.06%	$556,210	$6,044,464	$6,299,585	$308	$--	$--	$301,089	0.0%
Total	$556,210	$6,044,464	$6,299,585	$308	$--	$--	$301,089

Investment Valuation

	Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Communication Services	$2,635,090	$2,635,090	$--	$--
Consumer Discretionary	1,235,667	1,235,667	--	--
Consumer Staples	2,183,252	1,533,790	649,462	--
Energy	1,099,141	1,099,141	--	--
Financials	5,519,645	5,519,645	--	--
Health Care	5,372,817	4,834,726	538,091	--
Industrials	2,321,175	1,979,753	341,422	--
Information Technology	2,251,754	1,297,432	954,322	--
Materials	246,276	246,276	--	--
Real Estate	1,088,897	1,088,897	--	--
Utilities	2,524,479	2,524,479	--	--
Money Market Funds	301,089	301,089	--	--
Total Investments in Securities:	$26,779,282	$24,295,985	$2,483,297	$--

Other Information

Distribution of investments by country or territory of incorporation, as a percentage of Total Net Assets, is as follows (Unaudited):

United States of America	78.4%
United Kingdom	5.4%
Switzerland	4.7%
Korea (South)	3.6%
Germany	2.2%
Canada	2.1%
France	2.0%
Bailiwick of Guernsey	1.6%
	100.0%

See accompanying notes which are an integral part of the financial statements.

Financial Statements

Statement of Assets and Liabilities

		October 31, 2021
Assets
Investment in securities, at value — See accompanying schedule: Unaffiliated issuers (cost $20,508,253)	$26,478,193
Fidelity Central Funds (cost $301,089)	301,089
Total Investment in Securities (cost $20,809,342)		$26,779,282
Receivable for investments sold		131,623
Receivable for fund shares sold		18,150
Dividends receivable		36,310
Reclaims receivable		15,183
Distributions receivable from Fidelity Central Funds		13
Prepaid expenses		33
Other receivables		64
Total assets		26,980,658
Liabilities
Payable for investments purchased	$217,842
Payable for fund shares redeemed	360
Audit fees payable	38,297
Accrued management fee	7,358
Distribution and service plan fees payable	7,023
Other affiliated payables	4,977
Other payables and accrued expenses	1,269
Total liabilities		277,126
Net Assets		$26,703,532
Net Assets consist of:
Paid in capital		$18,903,851
Total accumulated earnings (loss)		7,799,681
Net Assets		$26,703,532
Net Asset Value and Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($16,513,054 ÷ 743,041 shares)^(a)		$22.22
Maximum offering price per share (100/94.25 of $22.22)		$23.58
Class M:
Net Asset Value and redemption price per share ($5,274,609 ÷ 236,549 shares)^(a)		$22.30
Maximum offering price per share (100/96.50 of $22.30)		$23.11
Class C:
Net Asset Value and offering price per share ($1,874,655 ÷ 87,216 shares)^(a)		$21.49
Class I:
Net Asset Value, offering price and redemption price per share ($3,041,214 ÷ 135,845 shares)		$22.39

(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Statement of Operations

		Year ended October 31, 2021
Investment Income
Dividends		$473,287
Income from Fidelity Central Funds		308
Total income		473,595
Expenses
Management fee
Basic fee	$125,561
Performance adjustment	(50,334)
Transfer agent fees	49,130
Distribution and service plan fees	80,416
Accounting fees and expenses	9,290
Custodian fees and expenses	2,891
Independent trustees' fees and expenses	91
Registration fees	55,346
Audit	50,246
Legal	2,381
Miscellaneous	188
Total expenses before reductions	325,206
Expense reductions	(28,572)
Total expenses after reductions		296,634
Net investment income (loss)		176,961
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	2,235,333
Foreign currency transactions	2,392
Total net realized gain (loss)		2,237,725
Change in net unrealized appreciation (depreciation) on:
Investment securities:
Unaffiliated issuers	5,345,005
Assets and liabilities in foreign currencies	(47)
Total change in net unrealized appreciation (depreciation)		5,344,958
Net gain (loss)		7,582,683
Net increase (decrease) in net assets resulting from operations		$7,759,644

See accompanying notes which are an integral part of the financial statements.

Statement of Changes in Net Assets

	Year ended October 31, 2021	Year ended October 31, 2020
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$176,961	$172,645
Net realized gain (loss)	2,237,725	(409,605)
Change in net unrealized appreciation (depreciation)	5,344,958	(3,369,650)
Net increase (decrease) in net assets resulting from operations	7,759,644	(3,606,610)
Distributions to shareholders	(114,402)	(352,822)
Share transactions - net increase (decrease)	622,413	(4,473,439)
Total increase (decrease) in net assets	8,267,655	(8,432,871)
Net Assets
Beginning of period	18,435,877	26,868,748
End of period	$26,703,532	$18,435,877

See accompanying notes which are an integral part of the financial statements.

Financial Highlights

Fidelity Advisor Value Leaders Fund Class A

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$15.67	$18.62	$19.31	$18.81	$16.03
Income from Investment Operations
Net investment income (loss)^A	.17	.15	.20	.16	.11
Net realized and unrealized gain (loss)	6.49	(2.81)	.58^B	.47^C	2.75
Total from investment operations	6.66	(2.66)	.78	.63	2.86
Distributions from net investment income	(.11)	(.20)	(.19)	(.13)	(.08)
Distributions from net realized gain	–	(.09)	(1.28)	–	–
Total distributions	(.11)	(.29)	(1.47)	(.13)	(.08)
Net asset value, end of period	$22.22	$15.67	$18.62	$19.31	$18.81
Total Return^D,^E	42.68%	(14.57)%	4.64%^B	3.33%^C	17.87%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.27%	1.35%	1.29%	1.25%	1.39%
Expenses net of fee waivers, if any	1.15%	1.25%	1.25%	1.25%	1.25%
Expenses net of all reductions	1.15%	1.24%	1.25%	1.25%	1.25%
Net investment income (loss)	.83%	.91%	1.12%	.81%	.61%
Supplemental Data
Net assets, end of period (000 omitted)	$16,513	$10,954	$16,648	$15,105	$17,848
Portfolio turnover rate^H	51%	144%	37%	35%	34%

^A Calculated based on average shares outstanding during the period.

^B Net realized and unrealized gain (loss) per share reflects proceeds received from litigation which amounted to $.03 per share. Excluding these litigation proceeds, the total return would have been 4.45%.

^C Net realized and unrealized gain (loss) per share reflects proceeds received from litigation which amounted to $.02 per share. Excluding these litigation proceeds, the total return would have been 3.21%.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the sales charges.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Value Leaders Fund Class M

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$15.72	$18.68	$19.34	$18.82	$16.04
Income from Investment Operations
Net investment income (loss)^A	.12	.11	.16	.11	.07
Net realized and unrealized gain (loss)	6.52	(2.83)	.59^B	.47^C	2.75
Total from investment operations	6.64	(2.72)	.75	.58	2.82
Distributions from net investment income	(.06)	(.15)	(.13)	(.06)	(.04)
Distributions from net realized gain	–	(.09)	(1.28)	–	–
Total distributions	(.06)	(.24)	(1.41)	(.06)	(.04)
Net asset value, end of period	$22.30	$15.72	$18.68	$19.34	$18.82
Total Return^D,^E	42.32%	(14.79)%	4.42%^B	3.09%^C	17.60%
Ratios to Average Net Assets^F,^G
Expenses before reductions	1.54%	1.64%	1.58%	1.54%	1.67%
Expenses net of fee waivers, if any	1.41%	1.50%	1.50%	1.50%	1.50%
Expenses net of all reductions	1.41%	1.49%	1.50%	1.50%	1.50%
Net investment income (loss)	.57%	.66%	.87%	.56%	.37%
Supplemental Data
Net assets, end of period (000 omitted)	$5,275	$3,821	$5,146	$4,987	$5,866
Portfolio turnover rate^H	51%	144%	37%	35%	34%

^A Calculated based on average shares outstanding during the period.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the sales charges.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Value Leaders Fund Class C

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$15.18	$17.99	$18.67	$18.21	$15.56
Income from Investment Operations
Net investment income (loss)^A	.01	.03	.06	.01	(.02)
Net realized and unrealized gain (loss)	6.30	(2.75)	.58^B	.45^C	2.67
Total from investment operations	6.31	(2.72)	.64	.46	2.65
Distributions from net investment income	–	–	(.04)	–	–
Distributions from net realized gain	–	(.09)	(1.28)	–	–
Total distributions	–	(.09)	(1.32)	–	–
Net asset value, end of period	$21.49	$15.18	$17.99	$18.67	$18.21
Total Return^D,^E	41.57%	(15.22)%	3.90%^B	2.53%^C	17.03%
Ratios to Average Net Assets^F,^G
Expenses before reductions	2.09%	2.18%	2.13%	2.09%	2.22%
Expenses net of fee waivers, if any	1.93%	2.00%	2.00%	2.00%	1.99%
Expenses net of all reductions	1.93%	1.99%	2.00%	2.00%	1.99%
Net investment income (loss)	.05%	.16%	.37%	.06%	(.13)%
Supplemental Data
Net assets, end of period (000 omitted)	$1,875	$1,763	$2,733	$5,298	$5,619
Portfolio turnover rate^H	51%	144%	37%	35%	34%

^A Calculated based on average shares outstanding during the period.

^D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^E Total returns do not include the effect of the contingent deferred sales charge.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Fidelity Advisor Value Leaders Fund Class I

Years ended October 31,	2021	2020	2019	2018	2017
Selected Per–Share Data
Net asset value, beginning of period	$15.80	$18.78	$19.47	$18.97	$16.16
Income from Investment Operations
Net investment income (loss)^A	.23	.20	.25	.22	.16
Net realized and unrealized gain (loss)	6.54	(2.82)	.59^B	.46^C	2.77
Total from investment operations	6.77	(2.62)	.84	.68	2.93
Distributions from net investment income	(.18)	(.27)	(.26)	(.18)	(.12)
Distributions from net realized gain	–	(.09)	(1.28)	–	–
Total distributions	(.18)	(.36)	(1.53)^D	(.18)	(.12)
Net asset value, end of period	$22.39	$15.80	$18.78	$19.47	$18.97
Total Return^E	43.08%	(14.31)%	4.96%^B	3.61%^C	18.19%
Ratios to Average Net Assets^F,^G
Expenses before reductions	.94%	.99%	.97%	.96%	1.12%
Expenses net of fee waivers, if any	.87%	.99%	.97%	.96%	1.00%
Expenses net of all reductions	.87%	.98%	.96%	.96%	1.00%
Net investment income (loss)	1.11%	1.17%	1.41%	1.10%	.87%
Supplemental Data
Net assets, end of period (000 omitted)	$3,041	$1,898	$2,342	$4,225	$4,052
Portfolio turnover rate^H	51%	144%	37%	35%	34%

^A Calculated based on average shares outstanding during the period.

^D Total distributions per share do not sum due to rounding.

^E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

See accompanying notes which are an integral part of the financial statements.

Notes to Financial Statements

For the period ended October 31, 2021

1. Organization.

Fidelity Advisor Value Leaders Fund (the Fund) is a fund of Fidelity Advisor Series VIII (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C and Class I shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Effective June 21, 2021, Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. Prior to June 21, 2021, Class C shares automatically converted to Class A shares after a holding period of ten years from the initial date of purchase, with certain exceptions.

2. Investments in Fidelity Central Funds.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense Ratio^(a)
Fidelity Money Market Central Funds	Fidelity Management & Research Company LLC (FMR)	Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.	Short-term Investments	Less than .005%

(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

3. Significant Accounting Policies.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 – quoted prices in active markets for identical investments
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.

Book-tax differences are primarily due to foreign currency transactions, partnerships, capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$6,253,495
Gross unrealized depreciation	(296,474)
Net unrealized appreciation (depreciation)	$5,957,021
Tax Cost	$20,822,261

The tax-based components of distributable earnings as of period end were as follows:

Undistributed ordinary income	$345,539
Undistributed long-term capital gain	$1,496,342
Net unrealized appreciation (depreciation) on securities and other investments	$5,957,801

The tax character of distributions paid was as follows:

	October 31, 2021	October 31, 2020
Ordinary Income	$114,402	$ 328,748
Long-term Capital Gains	–	24,074
Total	$114,402	$ 352,822

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Advisor Value Leaders Fund	12,974,044	11,693,559

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .30% of the Fund's average net assets and an annualized group fee rate that averaged .23% during the period. The group fee rate is based upon the monthly average net assets of a group of registered investment companies with which the investment adviser has management contracts. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of +/- .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of Class I of the Fund as compared to its benchmark index, the Russell 1000 Value Index, over the same 36 month performance period. For the reporting period, the total annual management fee rate, including the performance adjustment, was .31% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

	Distribution Fee	Service Fee	Total Fees	Retained by FDC
Class A	-%	.25%	$35,753	$359
Class M	.25%	.25%	24,344	381
Class C	.75%	.25%	20,319	2,370
			$80,416	$3,110

For the period, sales charge amounts retained by FDC were as follows:

	Retained by FDC
Class A	$5,149
Class M	648
Class C^(a)	98
	$5,895

(a) When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company LLC (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
Class A	$29,268	.20
Class M	11,075	.23
Class C	5,632	.28
Class I	3,155	.12
	$49,130

	% of Average Net Assets
Fidelity Advisor Value Leaders Fund	.04

	Amount
Fidelity Advisor Value Leaders Fund	$137

	Purchases ($)	Sales ($)	Realized Gain (Loss) ($)
Fidelity Advisor Value Leaders Fund	651,446	1,121,349	209,778

6. Committed Line of Credit.

	Amount
Fidelity Advisor Value Leaders Fund	$42

7. Expense Reductions.

The following classes were in reimbursement during the period:

	Expense Limitations	Reimbursement
Class A	1.25%/1.15%^(a)	$16,727
Class M	1.50%/1.40%^(a)	6,458
Class C	2.00%/1.90%^(a)	3,348
Class I	1.00%/.90%^(a)	1,640
		$28,173

(a) Expenses limitation effective June 1, 2021.

In addition, during the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $391.

8. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Value Leaders Fund
Distributions to shareholders
Class A	$78,530	$228,430
Class M	14,324	66,335
Class C	–	13,399
Class I	21,548	44,658
Total	$114,402	$352,822

9. Share Transactions.

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

	Shares	Shares	Dollars	Dollars
	Year ended October 31, 2021	Year ended October 31, 2020	Year ended October 31, 2021	Year ended October 31, 2020
Fidelity Advisor Value Leaders Fund
Class A
Shares sold	160,485	84,179	$3,329,008	$1,323,659
Reinvestment of distributions	4,232	11,679	76,850	223,999
Shares redeemed	(120,673)	(290,750)	(2,393,031)	(4,883,658)
Net increase (decrease)	44,044	(194,892)	$1,012,827	$(3,336,000)
Class M
Shares sold	28,263	14,651	$591,751	$233,017
Reinvestment of distributions	775	3,360	14,155	64,780
Shares redeemed	(35,596)	(50,388)	(725,370)	(816,132)
Net increase (decrease)	(6,558)	(32,377)	$(119,464)	$(518,335)
Class C
Shares sold	17,522	16,787	$335,639	$276,275
Reinvestment of distributions	–	710	–	13,286
Shares redeemed	(46,418)	(53,278)	(911,467)	(839,165)
Net increase (decrease)	(28,896)	(35,781)	$(575,828)	$(549,604)
Class I
Shares sold	32,280	22,152	$647,210	$360,614
Reinvestment of distributions	1,174	2,312	21,417	44,599
Shares redeemed	(17,730)	(29,027)	(363,749)	(474,713)
Net increase (decrease)	15,724	(4,563)	$304,878	$(69,500)

10. Other.

11. Coronavirus (COVID-19) Pandemic.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Advisor Series VIII and Shareholders of Fidelity Advisor Value Leaders Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity Advisor Value Leaders Fund (one of the funds constituting Fidelity Advisor Series VIII, referred to hereafter as the “Fund”) as of October 31, 2021, the related statement of operations for the year ended October 31, 2021, the statement of changes in net assets for each of the two years in the period ended October 31, 2021, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2021 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2021, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2021 and the financial highlights for each of the five years in the period ended October 31, 2021 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2021 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

December 13, 2021

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

Trustees and Officers

The fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-877-208-0098.

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Bettina Doulton (1964)

Year of Election or Appointment: 2021

Trustee

Robert A. Lawrence (1952)

Year of Election or Appointment: 2020

Trustee

Acting Chairman of the Board of Trustees

* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Thomas P. Bostick (1956)

Year of Election or Appointment: 2021

Trustee

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Vicki L. Fuller (1957)

Year of Election or Appointment: 2020

Trustee

Patricia L. Kampling (1959)

Year of Election or Appointment: 2020

Trustee

Thomas A. Kennedy (1955)

Year of Election or Appointment: 2021

Trustee

Oscar Munoz (1959)

Year of Election or Appointment: 2021

Trustee

Garnett A. Smith (1947)

Year of Election or Appointment: 2018

Trustee

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Lead Independent Trustee

Susan Tomasky (1953)

Year of Election or Appointment: 2020

Trustee

Michael E. Wiley (1950)

Year of Election or Appointment: 2020

Trustee

Advisory Board Members and Officers:

Name, Year of Birth; Principal Occupation

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Craig S. Brown (1977)

Year of Election or Appointment: 2019

Assistant Treasurer

Mr. Brown also serves as an officer of other funds. Mr. Brown serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2013-present).

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

William C. Coffey (1969)

Year of Election or Appointment: 2019

Assistant Secretary

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Colm A. Hogan (1973)

Year of Election or Appointment: 2020

Assistant Treasurer

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Cynthia Lo Bessette (1969)

Year of Election or Appointment: 2019

Secretary and Chief Legal Officer (CLO)

Chris Maher (1972)

Year of Election or Appointment: 2020

Deputy Treasurer

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2020

Chief Compliance Officer

Brett Segaloff (1972)

Year of Election or Appointment: 2021

Anti-Money Laundering (AML) Officer

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Jim Wegmann (1979)

Year of Election or Appointment: 2019

Assistant Treasurer

Shareholder Expense Example

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2021 to October 31, 2021).

Actual Expenses

Hypothetical Example for Comparison Purposes

	Annualized Expense Ratio-^A	Beginning Account Value May 1, 2021	Ending Account Value October 31, 2021	Expenses Paid During Period-^B May 1, 2021 to October 31, 2021
Fidelity Advisor Value Leaders Fund
Class A	1.08%
Actual		$1,000.00	$1,056.10	$5.60
Hypothetical-^C		$1,000.00	$1,019.76	$5.50
Class M	1.33%
Actual		$1,000.00	$1,054.90	$6.89
Hypothetical-^C		$1,000.00	$1,018.50	$6.77
Class C	1.85%
Actual		$1,000.00	$1,051.90	$9.57
Hypothetical-^C		$1,000.00	$1,015.88	$9.40
Class I	.77%
Actual		$1,000.00	$1,058.10	$3.99
Hypothetical-^C		$1,000.00	$1,021.32	$3.92

^A Annualized expense ratio reflects expenses net of applicable fee waivers.

^C 5% return per year before expenses

Distributions (Unaudited)

The Board of Trustees of Fidelity Advisor Value Leaders Fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities, and dividends derived from net investment income:

	Pay Date	Record Date	Dividends	Capital Gains
Fidelity Advisor Value Leaders Fund
Class A	12/06/21	12/03/21	$0.152	$1.450
Class M	12/06/21	12/03/21	$0.094	$1.450
Class C	12/06/21	12/03/21	$0.000	$1.399
Class I	12/06/21	12/03/21	$0.220	$1.450

The fund hereby designates as a capital gain dividend with respect to the taxable year ended October 31, 2021, $1,496,342, or, if subsequently determined to be different, the net capital gain of such year.

Class A, Class M, and Class I designate 100% of the dividends distributed in December, respectively during the fiscal year as qualifying for the dividends–received deduction for corporate shareholders.

Class A, Class M, and Class I designate 100% of the dividends distributed during the fiscal year as amounts which may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

The fund will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Advisor Value Leaders Fund

The Board considered the fund's underperformance for different time periods ended September 30, 2020 and for different time periods ended December 31, 2020 (which periods are not reflected in the chart above). The Board noted that the fund's underperformance has continued since the Board approved the management contract in January 2019 and January 2020. The Board's discussions with FMR regarding underperformance cover topics including, but not limited to: the longer-term track record of a fund's portfolio manager(s); broader trends in the market that may adversely impact a fund's performance; and attribution reports on contributors to the fund's underperformance. The Board engages with FMR on steps that might be taken to address a fund's underperformance. For a fund with underperformance over longer periods of time, the Board typically monitors the fund's performance more closely.

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

Management Fee. The Board considered two proprietary management fee comparisons for the 12-month periods ended September 30 (June 30 for periods ended 2019 and 2018 and December 31 for periods prior to 2018) shown in basis points (BP) in the chart below. The group of Lipper funds used by the Board for management fee comparisons is referred to below as the "Total Mapped Group." The Total Mapped Group comparison focuses on a fund's standing in terms of gross management fees before expense reimbursements or caps, and without giving effect to the fund's performance adjustment, relative to the total universe of funds with comparable investment mandates, regardless of whether their management fee structures also are comparable. Funds with comparable investment mandates offer exposure to similar types of securities. Funds with comparable management fee structures have similar management fee contractual arrangements (e.g., flat rate charged for advisory services, all-inclusive fee rate, etc.). "TMG %" represents the percentage of funds in the Total Mapped Group that had management fees that were lower than the fund's. For example, a hypothetical TMG % of 20% would mean that 80% of the funds in the Total Mapped Group had higher, and 20% had lower, management fees than the fund. The fund's actual TMG %s and the number of funds in the Total Mapped Group are in the chart below. The "Asset-Sized Peer Group" (ASPG) comparison focuses on a fund's standing relative to a subset of non-Fidelity funds within the Total Mapped Group that are similar in size and management fee structure without taking into account performance adjustments, if any. For example, if a fund is in the first quartile of the ASPG, the fund's management fee ranks in the least expensive or lowest 25% of funds in the ASPG. The ASPG represents at least 15% of the funds in the Total Mapped Group with comparable asset size and management fee structures, subject to a minimum of 50 funds (or all funds in the Total Mapped Group if fewer than 50). Additional information, such as the ASPG quartile in which the fund's management fee rate ranked and the impact of the fund's performance adjustment, is also included in the chart and was considered by the Board.

Fidelity Advisor Value Leaders Fund

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

Total Expense Ratio. In its review of each class's total expense ratio, the Board considered the fund's management fee rate as well as other fund or class expenses, as applicable, such as transfer agent fees, pricing and bookkeeping fees, fund-paid 12b-1 fees, and custodial, legal, and audit fees. The Board noted the impact of the fund's performance adjustment. The Board also noted that Fidelity may agree to waive fees or reimburse expenses from time to time, and the extent to which, if any, it has done so for the fund. As part of its review, the Board also considered the current and historical total expense ratios of a representative class of the fund compared to competitive fund median expenses. The fund's representative class is compared to those funds and classes in the Total Mapped Group (used by the Board for management fee comparisons) that have a similar sales load structure (SLTG). The Board also considered a total expense ASPG comparison for the representative class, which focuses on the total expenses of the representative class relative to a subset of non-Fidelity funds within the total expense SLTG. The total expense ASPG is limited to 15 larger and 15 smaller classes in fund average assets for a total of 30 classes, where possible. The total expense ASPG comparison excludes performance adjustments and fund-paid 12b-1 fees to eliminate variability in fee structures.

The Board noted that the total expense ratio of Class I ranked above the SLTG competitive median and below the ASPG competitive median for the 12-month period ended September 30, 2020. The Board considered that, in general, various factors can affect total expense ratios. The Board noted that Class I was above the SLTG competitive median due to higher other expenses as a result of low asset levels. The Board noted that the fund offers multiple classes, each of which has a different sales load and 12b-1 fee structure, and that the multiple structures are intended to offer a range of pricing options for the intermediary market. The Board also noted that the total expense ratios of the classes vary primarily by the level of their 12b-1 fees, although differences in transfer agent fees may also cause expenses to vary from class to class.

The Board further considered that FMR has contractually agreed to reimburse Class A, Class M, Class C, and Class I of the fund to the extent that total operating expenses, with certain exceptions, as a percentage of their respective average net assets, exceed 1.25%, 1.50%, 2.00%, and 1.00% through February 28, 2022.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Fidelity Investments

AVLF-ANN-1221
1.793577.118

Item 2.

Code of Ethics

As of the end of the period, October 31, 2021, Fidelity Advisor Series VIII (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

Item 3.

Audit Committee Financial Expert

The Board of Trustees of the trust has determined that Donald F. Donahue is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Donahue is independent for purposes of Item 3 of Form N-CSR.

Item 4.

Principal Accountant Fees and Services

Fees and Services

The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte Entities”) in each of the last two fiscal years for services rendered to Fidelity Advisor Focused Emerging Markets Fund and Fidelity Advisor International Capital Appreciation Fund (the “Fund(s)”):

Services Billed by Deloitte Entities

October 31, 2021 Fees^A


	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity Advisor Focused Emerging Markets Fund	$40,400	$-	$11,200	$1,100
Fidelity Advisor International Capital Appreciation Fund	$48,800	$-	$11,100	$1,200

October 31, 2020 Fees^A


	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity Advisor Focused Emerging Markets Fund	$44,800	$-	$11,100	$1,000
Fidelity Advisor International Capital Appreciation Fund	$50,000	$-	$11,100	$1,200

^AAmounts may reflect rounding.

The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity Advisor Diversified International Fund, Fidelity Advisor Emerging Asia Fund, Fidelity Advisor Global Capital Appreciation Fund, Fidelity Advisor Global Equity Income Fund, Fidelity Advisor Overseas Fund and Fidelity Advisor Value Leaders Fund (the “Fund(s)”):

Services Billed by PwC

October 31, 2021 Fees^A


	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity Advisor Diversified International Fund	$46,600	$4,900	$13,100	$1,600
Fidelity Advisor Emerging Asia Fund	$53,800	$5,400	$12,800	$1,800
Fidelity Advisor Global Capital Appreciation Fund	$45,800	$4,700	$12,000	$1,600
Fidelity Advisor Global Equity Income Fund	$39,900	$4,100	$10,600	$1,400
Fidelity Advisor Overseas Fund	$53,800	$5,400	$12,300	$1,800
Fidelity Advisor Value Leaders Fund	$33,300	$3,600	$11,200	$1,200

October 31, 2020 Fees^A


	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity Advisor Diversified International Fund	$52,300	$4,700	$13,100	$1,900
Fidelity Advisor Emerging Asia Fund	$55,800	$5,200	$12,000	$2,100
Fidelity Advisor Global Capital Appreciation Fund	$46,500	$4,600	$12,000	$1,900
Fidelity Advisor Global Equity Income Fund	$43,100	$4,000	$10,800	$1,600
Fidelity Advisor Overseas Fund	$59,600	$5,200	$12,300	$2,100
Fidelity Advisor Value Leaders Fund	$34,000	$3,500	$11,400	$1,400

^AAmounts may reflect rounding.

The following table(s) present(s) fees billed by Deloitte Entities and PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):

Services Billed by Deloitte Entities


	October 31, 2021^A	October 31, 2020^A
Audit-Related Fees	$-	$-
Tax Fees	$-	$-
All Other Fees	$-	$-

^A Amounts may reflect rounding.

Services Billed by PwC


	October 31, 2021^A	October 31, 2020^A
Audit-Related Fees	$8,830,600	$9,069,400
Tax Fees	$354,200	$30,000
All Other Fees	$-	$-

^A Amounts may reflect rounding.

“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.

“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.

“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the

operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.

Assurance services must be performed by an independent public accountant.

* * *

The aggregate non-audit fees billed by Deloitte Entities and PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:


Billed By	October 31, 2021^A	October 31, 2020^A
Deloitte Entities	$546,200	$526,000
PwC	$14,597,000	$14,284,100

^A Amounts may reflect rounding.

The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities and PwC to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities and PwC in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities and PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.

Audit Committee Pre-Approval Policies and Procedures

The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.

All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.

Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.

Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)

There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).

Item 5.

Audit Committee of Listed Registrants

Not applicable.

Item 6.

Investments

(a)

Not applicable.

(b)

Not applicable.

Item 7.

Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 8.

Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 9.

Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 10.

Submission of Matters to a Vote of Security Holders

There were no material changes to the procedures by which shareholders may recommend nominees to the trust’s Board of Trustees.

Item 11.

Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust’s internal control over financial reporting.

Item 12.

Disclosure of Securities Lending Activities for Closed-End Management

Investment Companies

Not applicable.

Item 13.

Exhibits


(a)	(1)	Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.
(a)	(2)	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
(a)	(3)	Not applicable.
(b)		Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Advisor Series VIII


By:	/s/Stacie M. Smith
	Stacie M. Smith
	President and Treasurer

Date:	December 21, 2021

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By:	/s/Stacie M. Smith
	Stacie M. Smith
	President and Treasurer

Date:	December 21, 2021


By:	/s/John J. Burke III
	John J. Burke III
	Chief Financial Officer

Date:	December 21, 2021