Supplement to the

Fidelity® Variable Insurance Products

Asset Manager 50% Portfolio, Asset Manager 70% Portfolio, Government Money Market Portfolio, Investment Grade Bond Portfolio, and Strategic Income Portfolio

Initial Class, Service Class, and Service Class 2

April 30, 2026

STATEMENT OF ADDITIONAL INFORMATION

The following information supplements information for VIP Investment Grade Bond Portfolio found in the "Management Contracts" section.

The following table provides information relating to other accounts managed by Julian Potenza as of April 30, 2026:

	Registered Investment  Companies*	Other Pooled Investment Vehicles	Other Accounts
Number of Accounts Managed	21	18	29
Number of Accounts Managed with Performance-Based Advisory Fees	none	none	none
Assets Managed (in millions)	$229,943	$39,694	$18,502
Assets Managed with Performance-Based Advisory Fees (in millions)	none	none	none

* Includes assets of VIP Investment Grade Bond Portfolio managed by the portfolio manager ($5,004 (in millions) assets managed).

As of April 30, 2026, the dollar range of shares of VIP Investment Grade Bond Portfolio beneficially owned by the portfolio manager was none.

VINSCSC2-SSTK-0626-139-1.869876.139 June 5, 2026

Supplement to the

Fidelity® Variable Insurance Products

Investment Grade Bond II Portfolio

Initial Class

April 30, 2026

STATEMENT OF ADDITIONAL INFORMATION

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

The following table provides information relating to other accounts managed by Julian Potenza as of April 30,2026:

	Registered Investment  Companies*	Other Pooled Investment Vehicles	Other Accounts
Number of Accounts Managed	21	18	29
Number of Accounts Managed with Performance-Based Advisory Fees	none	none	none
Assets Managed (in millions)	$229,943	$39,694	$18,502
Assets Managed with Performance-Based Advisory Fees (in millions)	none	none	none

* Includes assets of VIP Investment Grade Bond II Portfolio managed by the portfolio manager ($3,496 (in millions) assets managed).

As of April 30, 2026, the dollar range of shares of VIP Investment Grade Bond II Portfolio beneficially owned by the portfolio manager was none.

VIGBI-SSTK-0626-102-1.9911411.102 June 5, 2026

Supplement to the

Fidelity® Variable Insurance Products

Investment Grade Bond II Portfolio

Investor Class

April 30, 2026

STATEMENT OF ADDITIONAL INFORMATION

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

The following table provides information relating to other accounts managed by Julian Potenza as of April 30, 2026:

	Registered Investment  Companies*	Other Pooled Investment Vehicles	Other Accounts
Number of Accounts Managed	21	18	29
Number of Accounts Managed with Performance-Based Advisory Fees	none	none	none
Assets Managed (in millions)	$229,943	$39,694	$18,502
Assets Managed with Performance-Based Advisory Fees (in millions)	none	none	none

* Includes assets of VIP Investment Grade Bond II Portfolio managed by the portfolio manager ($3,496 (in millions) assets managed).

As of April 30, 2026, the dollar range of shares of VIP Investment Grade Bond II Portfolio beneficially owned by the portfolio manager was none.

VIGBV-SSTK-0626-102-1.9911413.102 June 5, 2026

Supplement to the

Fidelity® Variable Insurance Products

Asset Manager 50% Portfolio, Asset Manager 70% Portfolio, Government Money Market Portfolio, Investment Grade Bond Portfolio, and Strategic Income Portfolio

Investor Class

April 30, 2026

STATEMENT OF ADDITIONAL INFORMATION

The following information supplements information for VIP Investment Grade Bond Portfolio found in the "Management Contracts" section.

The following table provides information relating to other accounts managed by Julian Potenza as of April 30, 2026:

	Registered Investment Companies*	Other Pooled Investment Vehicles	Other Accounts
Number of Accounts Managed	21	18	29
Number of Accounts Managed with Performance-Based Advisory Fees	none	none	none
Assets Managed (in millions)	$229,943	$39,694	$18,502
Assets Managed with Performance-Based Advisory Fees (in millions)	none	none	none

* Includes assets of VIP Investment Grade Bond Portfolio managed by the portfolio manager ($5,004 (in millions) assets managed).

As of April 30, 2026, the dollar range of shares of VIP Investment Grade Bond Portfolio beneficially owned by the portfolio manager was none.

VINV-SSTK-0626-140-1.869875.140 June 5, 2026