0000916403 2025-05-01 2025-05-01 0000916403 vvpt1:S000008638Member 2025-05-01 2025-05-01 iso4217:USD pure false 2024-12-31 497 0000916403 N-1A 2025-05-01 <div class="p0 ft0" style="text-align:left;padding-left:182px;margin-top:0px;margin-bottom:0px;font:bold 15px 'times new roman';line-height:17px;">VOYA VARIABLE PRODUCTS TRUST</div><div class="p1 ft1" style="text-align:left;padding-left:150px;margin-top:0px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">Voya MidCap Opportunities Portfolio (the “Portfolio”)</div><div class="p2 ft1" style="text-align:left;padding-left:220px;margin-top:16px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">Supplement dated May 1, 2025</div><div class="p3 ft1" style="text-align:left;padding-left:55px;margin-top:0px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">to the Portfolio’s Adviser Class, Class I, Class R6, Class S, and Service 2 Class Shares’</div><div class="p4 ft1" style="text-align:left;padding-left:40px;margin-top:0px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">Summary Prospectus and Prospectus, each dated May 1, 2025 (together, the “Prospectuses”)</div><div class="p5 ft0" style="text-align:left;padding-left:51px;margin-top:17px;margin-bottom:0px;font:bold 15px 'times new roman';line-height:17px;">IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY</div><div class="p6 ft1" style="text-align:justify;padding-right:107px;margin-top:17px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">In accordance with recent changes to regulatory disclosure requirements regarding investment company names, the Portfolio’s policy to invest in accordance with the investment focus that the Portfolio’s name suggests (the “80% Investment Policy”) is changed effective June 30, 2025 (the “Effective Date”), as set forth below.</div><table cellpadding="0" cellspacing="0" class="t0" style="width:624px;margin-top:14px;font:15px 'times new roman'"> <tr> <td class="tr0 td0" style="height:13.5pt;border-left:#000000 1px solid;border-right:#000000 1px solid;border-top:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p7 ft0" style="text-align:left;padding-left:56px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:bold 15px 'times new roman';line-height:17px;">Current 80% Investment Policy</div> </td> <td class="tr0 td1" style="height:13.5pt;border-right:#000000 1px solid;border-top:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p8 ft0" style="text-align:left;padding-left:39px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:bold 15px 'times new roman';line-height:17px;">New 80% Investment Policy as of the</div> </td> </tr> <tr> <td class="tr0 td2" style="height:13.5pt;border-left:#000000 1px solid;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> <td class="tr0 td3" style="height:13.5pt;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p10 ft0" style="text-align:left;padding-left:111px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:bold 15px 'times new roman';line-height:17px;">Effective Date</div> </td> </tr> <tr> <td class="tr1 td4" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">Under normal market conditions, the Portfolio</div> </td> <td class="tr1 td5" style="height:12pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft3" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">Under normal circumstances, the Portfolio invests</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">invests at least 80% of its net assets (plus</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">at least 80% of its net assets (plus the amount of</div> </td> </tr> <tr> <td class="tr1 td4" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">borrowings for investment purposes) in common</div> </td> <td class="tr1 td5" style="height:12pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft3" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">any borrowings for investment purposes) in</div> </td> </tr> <tr> <td class="tr0 td6" style="height:13.5pt;border-left:#000000 1px solid;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">stock of mid-sized U.S. companies.</div> </td> <td class="tr0 td7" style="height:13.5pt;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">investments tied to mid-capitalization companies.</div> </td> </tr> </table><div class="p13 ft1" style="text-align:left;padding-right:104px;margin-top:17px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">Although the Portfolio’s new 80% Investment Policy and related disclosure changes are set forth in the Portfolio’s Prospectuses, these changes will not be effective until the Effective Date. Until the Effective Date, the Portfolio’s current 80% Investment Policy and related disclosure, as set forth in the table below under the heading “Current Disclosure”, will continue in effect and supersede the disclosure in the first paragraph in the section of the Prospectuses entitled “Principal Investment Strategies” (which, for reference, is set forth in the table below under the heading “Disclosure as of the Effective Date”).</div><table cellpadding="0" cellspacing="0" class="t1" style="width:624px;margin-top:13px;font:15px 'times new roman'"> <tr> <td class="tr3 td8" style="height:14.25pt;border-left:#000000 1px solid;border-right:#000000 1px solid;border-top:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p14 ft0" style="text-align:left;padding-left:96px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:bold 15px 'times new roman';line-height:17px;">Current Disclosure</div> </td> <td class="tr3 td9" style="height:14.25pt;border-right:#000000 1px solid;border-top:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p15 ft0" style="text-align:left;padding-left:49px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:bold 15px 'times new roman';line-height:17px;">Disclosure as of the Effective Date</div> </td> </tr> <tr> <td class="tr1 td4" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">Under normal market conditions, the Portfolio</div> </td> <td class="tr1 td5" style="height:12pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft3" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">Under normal circumstances, the Portfolio invests</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">invests at least 80% of its net assets (plus</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">at least 80% of its net assets (plus the amount of</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">borrowings for investment purposes) in common</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">any borrowings for investment purposes) in</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">stock of mid-sized U.S. companies. The Portfolio</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">investments tied to mid-capitalization companies.</div> </td> </tr> <tr> <td class="tr1 td4" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">will provide shareholders with at least 60 days’</div> </td> <td class="tr1 td5" style="height:12pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft3" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">For purposes of this 80% policy, mid-</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">prior notice of any change in this investment</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">capitalization companies means companies with</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">policy.</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">market capitalizations that fall within the</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">capitalization range of companies within the</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">The Portfolio normally invests in companies that</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">Russell Midcap<span class="ft4" style="font:9px 'times new roman';line-height:12px;position:relative;bottom:5px">® </span>Growth Index (the “Index”).</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">the sub-adviser (the “Sub-Adviser”) believes have</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">above average prospects for growth. For this</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">Portfolio, the Sub-Adviser defines mid-sized</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr1 td4" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">companies as companies with market</div> </td> <td class="tr1 td5" style="height:12pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">capitalizations that fall within the range of</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr0 td4" style="height:13.5pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">companies within the Russell Midcap<span class="ft4" style="font:9px 'times new roman';line-height:12px;position:relative;bottom:5px">® </span>Growth</div> </td> <td class="tr0 td5" style="height:13.5pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr1 td6" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">Index (the “Index”) at the time of purchase.</div> </td> <td class="tr1 td7" style="height:12pt;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> </table> <div class="p0 ft0" style="text-align:left;padding-left:182px;margin-top:0px;margin-bottom:0px;font:bold 15px 'times new roman';line-height:17px;">VOYA VARIABLE PRODUCTS TRUST</div><div class="p1 ft1" style="text-align:left;padding-left:150px;margin-top:0px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">Voya MidCap Opportunities Portfolio (the “Portfolio”)</div><div class="p2 ft1" style="text-align:left;padding-left:220px;margin-top:16px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">Supplement dated May 1, 2025</div><div class="p3 ft1" style="text-align:left;padding-left:55px;margin-top:0px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">to the Portfolio’s Adviser Class, Class I, Class R6, Class S, and Service 2 Class Shares’</div><div class="p4 ft1" style="text-align:left;padding-left:40px;margin-top:0px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">Summary Prospectus and Prospectus, each dated May 1, 2025 (together, the “Prospectuses”)</div><div class="p5 ft0" style="text-align:left;padding-left:51px;margin-top:17px;margin-bottom:0px;font:bold 15px 'times new roman';line-height:17px;">IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY</div><div class="p6 ft1" style="text-align:justify;padding-right:107px;margin-top:17px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">In accordance with recent changes to regulatory disclosure requirements regarding investment company names, the Portfolio’s policy to invest in accordance with the investment focus that the Portfolio’s name suggests (the “80% Investment Policy”) is changed effective June 30, 2025 (the “Effective Date”), as set forth below.</div><table cellpadding="0" cellspacing="0" class="t0" style="width:624px;margin-top:14px;font:15px 'times new roman'"> <tr> <td class="tr0 td0" style="height:13.5pt;border-left:#000000 1px solid;border-right:#000000 1px solid;border-top:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p7 ft0" style="text-align:left;padding-left:56px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:bold 15px 'times new roman';line-height:17px;">Current 80% Investment Policy</div> </td> <td class="tr0 td1" style="height:13.5pt;border-right:#000000 1px solid;border-top:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p8 ft0" style="text-align:left;padding-left:39px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:bold 15px 'times new roman';line-height:17px;">New 80% Investment Policy as of the</div> </td> </tr> <tr> <td class="tr0 td2" style="height:13.5pt;border-left:#000000 1px solid;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> <td class="tr0 td3" style="height:13.5pt;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p10 ft0" style="text-align:left;padding-left:111px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:bold 15px 'times new roman';line-height:17px;">Effective Date</div> </td> </tr> <tr> <td class="tr1 td4" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">Under normal market conditions, the Portfolio</div> </td> <td class="tr1 td5" style="height:12pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft3" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">Under normal circumstances, the Portfolio invests</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">invests at least 80% of its net assets (plus</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">at least 80% of its net assets (plus the amount of</div> </td> </tr> <tr> <td class="tr1 td4" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">borrowings for investment purposes) in common</div> </td> <td class="tr1 td5" style="height:12pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft3" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">any borrowings for investment purposes) in</div> </td> </tr> <tr> <td class="tr0 td6" style="height:13.5pt;border-left:#000000 1px solid;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">stock of mid-sized U.S. companies.</div> </td> <td class="tr0 td7" style="height:13.5pt;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">investments tied to mid-capitalization companies.</div> </td> </tr> </table><div class="p13 ft1" style="text-align:left;padding-right:104px;margin-top:17px;margin-bottom:0px;font:15px 'times new roman';line-height:17px;">Although the Portfolio’s new 80% Investment Policy and related disclosure changes are set forth in the Portfolio’s Prospectuses, these changes will not be effective until the Effective Date. Until the Effective Date, the Portfolio’s current 80% Investment Policy and related disclosure, as set forth in the table below under the heading “Current Disclosure”, will continue in effect and supersede the disclosure in the first paragraph in the section of the Prospectuses entitled “Principal Investment Strategies” (which, for reference, is set forth in the table below under the heading “Disclosure as of the Effective Date”).</div><table cellpadding="0" cellspacing="0" class="t1" style="width:624px;margin-top:13px;font:15px 'times new roman'"> <tr> <td class="tr3 td8" style="height:14.25pt;border-left:#000000 1px solid;border-right:#000000 1px solid;border-top:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p14 ft0" style="text-align:left;padding-left:96px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:bold 15px 'times new roman';line-height:17px;">Current Disclosure</div> </td> <td class="tr3 td9" style="height:14.25pt;border-right:#000000 1px solid;border-top:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;background:#e7e6e6;"> <div class="p15 ft0" style="text-align:left;padding-left:49px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:bold 15px 'times new roman';line-height:17px;">Disclosure as of the Effective Date</div> </td> </tr> <tr> <td class="tr1 td4" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">Under normal market conditions, the Portfolio</div> </td> <td class="tr1 td5" style="height:12pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft3" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">Under normal circumstances, the Portfolio invests</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">invests at least 80% of its net assets (plus</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">at least 80% of its net assets (plus the amount of</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">borrowings for investment purposes) in common</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">any borrowings for investment purposes) in</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">stock of mid-sized U.S. companies. The Portfolio</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">investments tied to mid-capitalization companies.</div> </td> </tr> <tr> <td class="tr1 td4" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">will provide shareholders with at least 60 days’</div> </td> <td class="tr1 td5" style="height:12pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft3" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">For purposes of this 80% policy, mid-</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">prior notice of any change in this investment</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">capitalization companies means companies with</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">policy.</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">market capitalizations that fall within the</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">capitalization range of companies within the</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">The Portfolio normally invests in companies that</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p12 ft1" style="text-align:left;padding-left:6px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">Russell Midcap<span class="ft4" style="font:9px 'times new roman';line-height:12px;position:relative;bottom:5px">® </span>Growth Index (the “Index”).</div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">the sub-adviser (the “Sub-Adviser”) believes have</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">above average prospects for growth. For this</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">Portfolio, the Sub-Adviser defines mid-sized</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr1 td4" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">companies as companies with market</div> </td> <td class="tr1 td5" style="height:12pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr2 td4" style="height:12.75pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">capitalizations that fall within the range of</div> </td> <td class="tr2 td5" style="height:12.75pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr0 td4" style="height:13.5pt;border-left:#000000 1px solid;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft1" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:17px;">companies within the Russell Midcap<span class="ft4" style="font:9px 'times new roman';line-height:12px;position:relative;bottom:5px">® </span>Growth</div> </td> <td class="tr0 td5" style="height:13.5pt;border-right:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> <tr> <td class="tr1 td6" style="height:12pt;border-left:#000000 1px solid;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p11 ft3" style="text-align:left;padding-left:8px;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:15px 'times new roman';line-height:16px;">Index (the “Index”) at the time of purchase.</div> </td> <td class="tr1 td7" style="height:12pt;border-right:#000000 1px solid;border-bottom:#000000 1px solid;padding:0pt;margin:0pt;width:233.25pt;vertical-align:bottom;"> <div class="p9 ft2" style="text-align:left;margin-top:0px;margin-bottom:0px;white-space:nowrap;font:1px 'times new roman';line-height:1px;"> </div> </td> </tr> </table> VOYA VARIABLE PRODUCTS TRUST 2025-05-01 2025-05-01