28763_Aug21.pdf

Fidelity Funds - China RMB Bond Fund 31 Aug 2021

Fund Details Investment Objective Morgan Lau The Fund aims to achieve income and capital appreciation via exposure to RMB denominated Fund Manager Tae Ho Ryu debt, money market securities and cash and/or cash equivalents (including, inter alia, time deposits). The Fund will primarily invest, directly and/or indirectly, in investment grade Terrence Pang Bond securities denominated in RMB, investment grade securities of issuers that have their principal Reference Currency USD business activities in the Asia Pacific region, securities denominated in RMB of investment Fund Size US$668m grade issuers or in securities of investment grade issuers that have their principal business activities in the Asia Pacific region. This region includes certain countries considered to be Max. Sales Charge - Cash 3.50% emerging markets. Exposure to non-RMB denominated debt securities may be hedged in order (On Net Investment Amount) to seek to maintain the currency exposure in RMB. The Fund may invest its net assets directly in Annual Management Fee 0.75% onshore China fixed income securities listed or traded on any Eligible Market in China. The Fund is actively managed without reference to an index. Subscription Information Cash: All share classes

Fund Performance (rebased to 100) Performance (%) Since YTD 1mth 3mth 6mth 1yr 3yr 5yr Launch (cum) (cum) (cum) (cum) (cum) (ann) (ann) (ann) A-ACC-RMB 2.2 0.6 0.7 2.0 4.3 4.8 3.8 4.0 With 3% sales charge -0.8 -2.4 -2.3 -1.1 1.2 3.7 3.2 3.7 A-ACC-USD 3.0 0.7 -0.6 2.5 10.7 6.8 4.6 3.6 With 3% sales charge -0.1 -2.3 -3.6 -0.6 7.4 5.8 3.9 3.2 Source: Fidelity, NAV-NAV basis, in the respective currencies with dividends re-invested. Returns are annualised for periods greater than 1 year. Please refer to "Share Class Details & Codes" for the launch dates of the respective share classes. Fund A-ACC-USD Performance is shown for the last 5 years (or since launch for funds launched within that period), rebased to 100.

Top 10 Holdings (%) Geographic Exposure (%) Sector Exposure (%) Fund EXPORT IMPRT BK 3.34% 09/04/23 3.15 MTR CORP LTD 2.9% 03/18/22 RGS 3.05 AGRIC DEV BK 3.06% 08/05/23 2.10 AGRICUL DEV BK 2.2% 04/01/23 1.86 AGRICUL DEV BK 4% 11/12/25 1.74 SG_Flag_GlossaryOnPage3 EXPORT IMPRT BK 3.99% 02/09/25 1.71 Fund Fund EXPORT IMPRT BK 3.43% 10/23/25 1.69 ■ China 59.03 ■ Quasi / Sov / Supra / Agncy 50.93 ICB CHINA 4.15% 01/21/31 1.56 ■ Hong Kong 15.75 ■ Banks & Brokers 10.27 CHALCO HONG 1.55% 07/28/24 RGS 1.50 ■ India 3.13 ■ Treasury 8.14 BANK O 2.304%/VAR 07/08/31 RGS 1.50 ■ United Arab Emirates 2.98 ■ Property 7.67 ■ Singapore 2.04 ■ Consumer Cyclical 3.22 ■ Japan ■ Industrial Other Top 5 Issuers (%) 1.84 2.95 ■ Philippines 1.70 ■ Utility 2.88 (CGB) People's Republic of China 8.14 ■ Korea, Republic of 1.68 ■ Other Financials 2.73 (ADBCH) AGRICUL DEV BK 2.2% 04/01/23 8.02 ■ Thailand 1.20 ■ Capital Goods 2.34 (EXIMCH) EXPORT IMPRT BK 3.34% 09/04/23 8.01 ■ United Kingdom 1.20 ■ Insurance 0.97 ■ Others 6.85 ■ Others 5.30 (SDBC) CHINA DEV BANK 3.07% 03/24/24 6.61 ■ Cash 2.60 ■ Cash 2.60 (MTRC) MTR CORP LTD 2.9% 03/18/22 RGS 3.05

28763_Aug21.pdf Fidelity Funds - China RMB Bond Fund 31 Aug 2021 Measures Share Class Details & Codes (A-ACC-USD) Fund Share Class Launch Date NAV Bloomberg Ticker ISIN

Annualised Volatility (3 years) (%) 6.49 A-ACC-RMB 08 Dec 11 146.56 FFCRMBA LX LU0715234463 Sharpe Ratio (3 years) 0.87 A-ACC-USD 07 May 14 12.98 FFCRBAU LX LU0740036214 Yield to Maturity (%) 5.24 A-ACC: accumulating share class. Running Yield (%) 4.79 Effective Duration 3.8 Calendar Year Performance (%) Average Credit Rating (Linear) A- 2016 2017 2018 2019 2020 Asset Type – Investment grade credit (ex- 60.65 A-ACC-RMB 3.6 4.0 3.2 7.5 3.9 treasury) (%) Asset Type – High yield bond (%) 11.57 With 3% sales charge 0.5 0.9 0.1 4.2 0.8 A-ACC-USD -2.2 11.2 -2.2 5.9 11.3 With 3% sales charge -5.1 7.9 -5.1 2.8 8.0 Source: Fidelity, NAV-NAV basis, in the respective currencies with dividends re-invested. Sales charge may be levied by the distributor at its discretion. The stated returns will be reduced by the corresponding sales charge amount being levied by the distributor.

Credit Rating Exposure (%) Currency Exposure (%) Fund Fund AAA/Aaa 1.22 CNY 102.62 AA/Aa 7.89 USD -0.46 A 44.56 EUR 0.01 BBB/Baa 16.76 JPY 0.00 BB/Ba 5.37 GBP 0.00 B 5.69 Other -2.17 CCC and Below 0.51 Total 100.00 Other 15.40 Cash 2.60 Total 100.00

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28763_Aug21.pdf Fidelity Funds - China RMB Bond Fund 31 Aug 2021

Definition of Terms Annualised Volatility is a measure of how variable returns for a fund or comparative market index have been around their historical average. Two funds may produce the same return over a period. The fund whose monthly returns have varied less will have a lower annualised volatility and will be considered to have achieved its returns with less risk. Sharpe Ratio is a measure of a fund's risk adjusted performance taking into account the return on a risk-free investment. The ratio allows an investor to assess whether the fund is generating adequate returns for the level of risk it is taking. The higher the ratio, the better the risk-adjusted performance has been. If the ratio is negative, the fund has returned less than the risk-free rate. Yield to Maturity is the internal rate of return earned on a bond, assuming that the bond will be held until maturity and all coupon and principal payments will be made. It is an estimation of future return, as the rate at which coupon payments can be reinvested when received is unknown. Running Yield describes the income investors get from their portfolio as a percentage of market value of the securities (incorporating the effect of derivatives) and does not include the impact of fees. It should not be relied on as a measure of expected fund return. The running yield does not reflect the total return over the life of the bond and takes no account of reinvestment risk or the fact that bonds usually mature at par value. Duration is a measure of sensitivity of the fund value to changes in interest rates and includes all investments in the fund including derivatives. It takes into account that expected cash flows will fluctuate as interest rates change and affect a bond's price. Average Credit Rating is the weighted average of all the bond credit ratings in the fund. It takes into account all investments in the fund including derivatives. This measure gives an idea of how risky the fund’s bonds are overall: the lower the average credit rating, the riskier the fund. With a Linear weighted average the weight assigned to each issue is equal to its market value weight. Exposure as a percentage of TNA (excluding derivatives). For each bond in the fund, Fidelity looks at the rating given by three rating agencies (S&P, Moody’s and Fitch) and applies the worst of the two best ratings (commonly known as the Basel method). The AAA/Aaa rating is the highest and indicates the borrower has the lowest probability of defaulting on its debt. The table above is a categorisation of the fund’s individual bonds into their credit ratings. If any derivatives are being used to adjust the credit quality of the fund, these are reflected in the Average Credit Rating under the “Measures” section.

Top issuers table: credit derivatives relating to any specific issuer are included, but derivatives relating to government bonds and to bond indices are excluded. Geographic exposure basis is domicile of issuer. The credit rating table excludes derivatives. Currency exposure is after hedging.

FIL Investment Management (Singapore) Limited [FIMSL] (Co. Reg. No.: 199006300E) is a responsible entity for the fund in Singapore. Prospectus of the fund is available from FIMSL or its distributors upon request. Potential investors should read the prospectus before investing. All views expressed and references to specific securities are included for illustration only, and should not be construed as an offer or recommendation. This document is for information only and does not have regard to the specific investment objectives, financial situation and particular needs of the person who may receive it. Potential investor should seek advice from a financial adviser before investing. If that potential investor chooses not to seek advice from a financial adviser, he should consider whether the fund is suitable for him. Past performance of the fund is not indicative of the future performance. Prices can go up and down. The value of the shares of the fund and the income accruing to them may fall or rise. Investors investing in a fund denominated in a non-local currency should be aware of exchange rate risk. The fund is not available to US citizens, residents or greencard holders. This advertisement has not been reviewed by the Monetary Authority of Singapore. Fidelity, Fidelity International, and the Fidelity International logo and F symbol are trademarks of FIL Limited.

www.fidelity.com.sg 28763_Aug21.pdf

Fidelity Funds - China RMB Bond Fund 31 Aug 2021

Fund Details Investment Objective Morgan Lau The Fund aims to achieve income and capital appreciation via exposure to RMB denominated Fund Manager Tae Ho Ryu debt, money market securities and cash and/or cash equivalents (including, inter alia, time deposits). The Fund will primarily invest, directly and/or indirectly, in investment grade Terrence Pang Bond securities denominated in RMB, investment grade securities of issuers that have their principal Reference Currency USD business activities in the Asia Pacific region, securities denominated in RMB of investment Fund Size US$668m grade issuers or in securities of investment grade issuers that have their principal business activities in the Asia Pacific region. This region includes certain countries considered to be Max. Sales Charge - Cash 3.50% emerging markets. Exposure to non-RMB denominated debt securities may be hedged in order (On Net Investment Amount) to seek to maintain the currency exposure in RMB. The Fund may invest its net assets directly in Annual Management Fee 0.75% onshore China fixed income securities listed or traded on any Eligible Market in China. The Fund is actively managed without reference to an index. Subscription Information Cash: All share classes

Fund Performance (rebased to 100) Performance (%) Since YTD 1mth 3mth 6mth 1yr 3yr 5yr Launch (cum) (cum) (cum) (cum) (cum) (ann) (ann) (ann) A-ACC-RMB 2.2 0.6 0.7 2.0 4.3 4.8 3.8 4.0 With 3% sales charge -0.8 -2.4 -2.3 -1.1 1.2 3.7 3.2 3.7 A-ACC-USD 3.0 0.7 -0.6 2.5 10.7 6.8 4.6 3.6 With 3% sales charge -0.1 -2.3 -3.6 -0.6 7.4 5.8 3.9 3.2 Source: Fidelity, NAV-NAV basis, in the respective currencies with dividends re-invested. Returns are annualised for periods greater than 1 year. Please refer to "Share Class Details & Codes" for the launch dates of the respective share classes. Fund A-ACC-USD Performance is shown for the last 5 years (or since launch for funds launched within that period), rebased to 100.

Top 10 Holdings (%) Geographic Exposure (%) Sector Exposure (%) Fund EXPORT IMPRT BK 3.34% 09/04/23 3.15 MTR CORP LTD 2.9% 03/18/22 RGS 3.05 AGRIC DEV BK 3.06% 08/05/23 2.10 AGRICUL DEV BK 2.2% 04/01/23 1.86 AGRICUL DEV BK 4% 11/12/25 1.74 EXPORT IMPRT BK 3.99% 02/09/25 1.71 Fund Fund EXPORT IMPRT BK 3.43% 10/23/25 1.69 ■ China 59.03 ■ Quasi / Sov / Supra / Agncy 50.93 ICB CHINA 4.15% 01/21/31 1.56 ■ Hong Kong 15.75 ■ Banks & Brokers 10.27 CHALCO HONG 1.55% 07/28/24 RGS 1.50 ■ India 3.13 ■ Treasury 8.14 BANK O 2.304%/VAR 07/08/31 RGS 1.50 ■ United Arab Emirates 2.98 ■ Property 7.67 ■ Singapore 2.04 ■ Consumer Cyclical 3.22 ■ Japan ■ Industrial Other Top 5 Issuers (%) 1.84 2.95 ■ Philippines 1.70 ■ Utility 2.88 (CGB) People's Republic of China 8.14 ■ Korea, Republic of 1.68 ■ Other Financials 2.73 (ADBCH) AGRICUL DEV BK 2.2% 04/01/23 8.02 ■ Thailand 1.20 ■ Capital Goods 2.34 (EXIMCH) EXPORT IMPRT BK 3.34% 09/04/23 8.01 ■ United Kingdom 1.20 ■ Insurance 0.97 ■ Others 6.85 ■ Others 5.30 (SDBC) CHINA DEV BANK 3.07% 03/24/24 6.61 ■ Cash 2.60 ■ Cash 2.60 (MTRC) MTR CORP LTD 2.9% 03/18/22 RGS 3.05

28763_Aug21.pdf Fidelity Funds - China RMB Bond Fund 31 Aug 2021 Measures Share Class Details & Codes (A-ACC-USD) Fund Share Class Launch Date NAV Bloomberg Ticker ISIN

Annualised Volatility (3 years) (%) 6.49 A-ACC-RMB 08 Dec 11 146.56 FFCRMBA LX LU0715234463 Sharpe Ratio (3 years) 0.87 A-ACC-USD 07 May 14 12.98 FFCRBAU LX LU0740036214 Yield to Maturity (%) 5.24 A-ACC: accumulating share class. Running Yield (%) 4.79 Effective Duration 3.8 Calendar Year Performance (%) Average Credit Rating (Linear) A- 2016 2017 2018 2019 2020 Asset Type – Investment grade credit (ex- 60.65 treasury) (%) A-ACC-RMB 3.6 4.0 3.2 7.5 3.9 Asset Type – High yield bond (%) 11.57 With 3% sales charge 0.5 0.9 0.1 4.2 0.8 A-ACC-USD -2.2 11.2 -2.2 5.9 11.3 With 3% sales charge -5.1 7.9 -5.1 2.8 8.0 Source: Fidelity, NAV-NAV basis, in the respective currencies with dividends re-invested. Sales charge may be levied by the distributor at its discretion. The stated returns will be reduced by the corresponding sales charge amount being levied by the distributor.

Credit Rating Exposure (%) Currency Exposure (%) Fund Fund AAA/Aaa 1.22 CNY 102.62 AA/Aa 7.89 USD -0.46 A 44.56 EUR 0.01 BBB/Baa 16.76 JPY 0.00 BB/Ba 5.37 GBP 0.00 B 5.69 Other -2.17 CCC and Below 0.51 Total 100.00 Other 15.40 Cash 2.60 Total 100.00

www.fidelity.com.sg

28763_Aug21.pdf Fidelity Funds - China RMB Bond Fund 31 Aug 2021

Definition of Terms Annualised Volatility is a measure of how variable returns for a fund or comparative market index have been around their historical average. Two funds may produce the same return over a period. The fund whose monthly returns have varied less will have a lower annualised volatility and will be considered to have achieved its returns with less risk. Sharpe Ratio is a measure of a fund's risk adjusted performance taking into account the return on a risk-free investment. The ratio allows an investor to assess whether the fund is generating adequate returns for the level of risk it is taking. The higher the ratio, the better the risk-adjusted performance has been. If the ratio is negative, the fund has returned less than the risk-free rate. Yield to Maturity is the internal rate of return earned on a bond, assuming that the bond will be held until maturity and all coupon and principal payments will be made. It is an estimation of future return, as the rate at which coupon payments can be reinvested when received is unknown. Running Yield describes the income investors get from their portfolio as a percentage of market value of the securities (incorporating the effect of derivatives) and does not include the impact of fees. It should not be relied on as a measure of expected fund return. The running yield does not reflect the total return over the life of the bond and takes no account of reinvestment risk or the fact that bonds usually mature at par value. Duration is a measure of sensitivity of the fund value to changes in interest rates and includes all investments in the fund including derivatives. It takes into account that expected cash flows will fluctuate as interest rates change and affect a bond's price. Average Credit Rating is the weighted average of all the bond credit ratings in the fund. It takes into account all investments in the fund including derivatives. This measure gives an idea of how risky the fund’s bonds are overall: the lower the average credit rating, the riskier the fund. With a Linear weighted average the weight assigned to each issue is equal to its market value weight. Exposure as a percentage of TNA (excluding derivatives). For each bond in the fund, Fidelity looks at the rating given by three rating agencies (S&P, Moody’s and Fitch) and applies the worst of the two best ratings (commonly known as the Basel method). The AAA/Aaa rating is the highest and indicates the borrower has the lowest probability of defaulting on its debt. The table above is a categorisation of the fund’s individual bonds into their credit ratings. If any derivatives are being used to adjust the credit quality of the fund, these are reflected in the Average Credit Rating under the “Measures” section.

Top issuers table: credit derivatives relating to any specific issuer are included, but derivatives relating to government bonds and to bond indices are excluded. Geographic exposure basis is domicile of issuer. The credit rating table excludes derivatives. Currency exposure is after hedging.

FIL Investment Management (Singapore) Limited [FIMSL] (Co. Reg. No.: 199006300E) is a responsible entity for the fund in Singapore. Prospectus of the fund is available from FIMSL or its distributors upon request. Potential investors should read the prospectus before investing. All views expressed and references to specific securities are included for illustration only, and should not be construed as an offer or recommendation. This document is for information only and does not have regard to the specific investment objectives, financial situation and particular needs of the person who may receive it. Potential investor should seek advice from a financial adviser before investing. If that potential investor chooses not to seek advice from a financial adviser, he should consider whether the fund is suitable for him. Past performance of the fund is not indicative of the future performance. Prices can go up and down. The value of the shares of the fund and the income accruing to them may fall or rise. Investors investing in a fund denominated in a non-local currency should be aware of exchange rate risk. The fund is not available to US citizens, residents or greencard holders. This advertisement has not been reviewed by the Monetary Authority of Singapore. Fidelity, Fidelity International, and the Fidelity International logo and F symbol are trademarks of FIL Limited.

www.fidelity.com.sg 28763_Aug21.pdf

Fidelity Funds - China RMB Bond Fund 31 Aug 2021

Fund Details Investment Objective Morgan Lau The Fund aims to achieve income and capital appreciation via exposure to RMB denominated Fund Manager Tae Ho Ryu debt, money market securities and cash and/or cash equivalents (including, inter alia, time deposits). The Fund will primarily invest, directly and/or indirectly, in investment grade Terrence Pang Bond securities denominated in RMB, investment grade securities of issuers that have their principal Reference Currency USD business activities in the Asia Pacific region, securities denominated in RMB of investment Fund Size US$668m grade issuers or in securities of investment grade issuers that have their principal business activities in the Asia Pacific region. This region includes certain countries considered to be Max. Sales Charge - Cash 3.50% emerging markets. Exposure to non-RMB denominated debt securities may be hedged in order (On Net Investment Amount) to seek to maintain the currency exposure in RMB. The Fund may invest its net assets directly in Annual Management Fee 0.75% onshore China fixed income securities listed or traded on any Eligible Market in China. The Fund is actively managed without reference to an index. Subscription Information Cash: All share classes

Fund Performance (rebased to 100) Performance (%) Since YTD 1mth 3mth 6mth 1yr 3yr 5yr Launch (cum) (cum) (cum) (cum) (cum) (ann) (ann) (ann) A-ACC-RMB 2.2 0.6 0.7 2.0 4.3 4.8 3.8 4.0 With 3% sales charge -0.8 -2.4 -2.3 -1.1 1.2 3.7 3.2 3.7 A-ACC-USD 3.0 0.7 -0.6 2.5 10.7 6.8 4.6 3.6 With 3% sales charge -0.1 -2.3 -3.6 -0.6 7.4 5.8 3.9 3.2 Source: Fidelity, NAV-NAV basis, in the respective currencies with dividends re-invested. Returns are annualised for periods greater than 1 year. Please refer to "Share Class Details & Codes" for the launch dates of the respective share classes. Fund A-ACC-USD Performance is shown for the last 5 years (or since launch for funds launched within that period), rebased to 100.

Top 10 Holdings (%) Geographic Exposure (%) Sector Exposure (%) Fund EXPORT IMPRT BK 3.34% 09/04/23 3.15 MTR CORP LTD 2.9% 03/18/22 RGS 3.05 AGRIC DEV BK 3.06% 08/05/23 2.10 AGRICUL DEV BK 2.2% 04/01/23 1.86 AGRICUL DEV BK 4% 11/12/25 1.74 EXPORT IMPRT BK 3.99% 02/09/25 1.71 Fund Fund EXPORT IMPRT BK 3.43% 10/23/25 1.69 ■ China 59.03 ■ Quasi / Sov / Supra / Agncy 50.93 ICB CHINA 4.15% 01/21/31 1.56 ■ Hong Kong 15.75 ■ Banks & Brokers 10.27 CHALCO HONG 1.55% 07/28/24 RGS 1.50 ■ India 3.13 ■ Treasury 8.14 BANK O 2.304%/VAR 07/08/31 RGS 1.50 ■ United Arab Emirates 2.98 ■ Property 7.67 ■ Singapore 2.04 ■ Consumer Cyclical 3.22 ■ Japan ■ Industrial Other Top 5 Issuers (%) 1.84 2.95 ■ Philippines 1.70 ■ Utility 2.88 (CGB) People's Republic of China 8.14 ■ Korea, Republic of 1.68 ■ Other Financials 2.73 (ADBCH) AGRICUL DEV BK 2.2% 04/01/23 8.02 ■ Thailand 1.20 ■ Capital Goods 2.34 (EXIMCH) EXPORT IMPRT BK 3.34% 09/04/23 8.01 ■ United Kingdom 1.20 ■ Insurance 0.97 ■ Others 6.85 ■ Others 5.30 (SDBC) CHINA DEV BANK 3.07% 03/24/24 6.61 ■ Cash 2.60 ■ Cash 2.60 (MTRC) MTR CORP LTD 2.9% 03/18/22 RGS 3.05

28763_Aug21.pdf Fidelity Funds - China RMB Bond Fund 31 Aug 2021 Measures Share Class Details & Codes (A-ACC-USD) Fund Share Class Launch Date NAV Bloomberg Ticker ISIN

Annualised Volatility (3 years) (%) 6.49 A-ACC-RMB 08 Dec 11 146.56 FFCRMBA LX LU0715234463 Sharpe Ratio (3 years) 0.87 A-ACC-USD 07 May 14 12.98 FFCRBAU LX LU0740036214 Yield to Maturity (%) 5.24 A-ACC: accumulating share class. Running Yield (%) 4.79 Effective Duration 3.8 Calendar Year Performance (%) Average Credit Rating (Linear) A- 2016 2017 2018 2019 2020 Asset Type – Investment grade credit (ex- 60.65 treasury) (%) A-ACC-RMB 3.6 4.0 3.2 7.5 3.9 Asset Type – High yield bond (%) 11.57 With 3% sales charge 0.5 0.9 0.1 4.2 0.8 A-ACC-USD -2.2 11.2 -2.2 5.9 11.3 With 3% sales charge -5.1 7.9 -5.1 2.8 8.0 Source: Fidelity, NAV-NAV basis, in the respective currencies with dividends re-invested. Sales charge may be levied by the distributor at its discretion. The stated returns will be reduced by the corresponding sales charge amount being levied by the distributor.

Credit Rating Exposure (%) Currency Exposure (%) Fund Fund AAA/Aaa 1.22 CNY 102.62 AA/Aa 7.89 USD -0.46 A 44.56 EUR 0.01 BBB/Baa 16.76 JPY 0.00 BB/Ba 5.37 GBP 0.00 B 5.69 Other -2.17 CCC and Below 0.51 Total 100.00 Other 15.40 Cash 2.60 Total 100.00

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28763_Aug21.pdf Fidelity Funds - China RMB Bond Fund 31 Aug 2021

Definition of Terms Annualised Volatility is a measure of how variable returns for a fund or comparative market index have been around their historical average. Two funds may produce the same return over a period. The fund whose monthly returns have varied less will have a lower annualised volatility and will be considered to have achieved its returns with less risk. Sharpe Ratio is a measure of a fund's risk adjusted performance taking into account the return on a risk-free investment. The ratio allows an investor to assess whether the fund is generating adequate returns for the level of risk it is taking. The higher the ratio, the better the risk-adjusted performance has been. If the ratio is negative, the fund has returned less than the risk-free rate. Yield to Maturity is the internal rate of return earned on a bond, assuming that the bond will be held until maturity and all coupon and principal payments will be made. It is an estimation of future return, as the rate at which coupon payments can be reinvested when received is unknown. Running Yield describes the income investors get from their portfolio as a percentage of market value of the securities (incorporating the effect of derivatives) and does not include the impact of fees. It should not be relied on as a measure of expected fund return. The running yield does not reflect the total return over the life of the bond and takes no account of reinvestment risk or the fact that bonds usually mature at par value. Duration is a measure of sensitivity of the fund value to changes in interest rates and includes all investments in the fund including derivatives. It takes into account that expected cash flows will fluctuate as interest rates change and affect a bond's price. Average Credit Rating is the weighted average of all the bond credit ratings in the fund. It takes into account all investments in the fund including derivatives. This measure gives an idea of how risky the fund’s bonds are overall: the lower the average credit rating, the riskier the fund. With a Linear weighted average the weight assigned to each issue is equal to its market value weight. Exposure as a percentage of TNA (excluding derivatives). For each bond in the fund, Fidelity looks at the rating given by three rating agencies (S&P, Moody’s and Fitch) and applies the worst of the two best ratings (commonly known as the Basel method). The AAA/Aaa rating is the highest and indicates the borrower has the lowest probability of defaulting on its debt. The table above is a categorisation of the fund’s individual bonds into their credit ratings. If any derivatives are being used to adjust the credit quality of the fund, these are reflected in the Average Credit Rating under the “Measures” section.

Top issuers table: credit derivatives relating to any specific issuer are included, but derivatives relating to government bonds and to bond indices are excluded. Geographic exposure basis is domicile of issuer. The credit rating table excludes derivatives. Currency exposure is after hedging.

FIL Investment Management (Singapore) Limited [FIMSL] (Co. Reg. No.: 199006300E) is a responsible entity for the fund in Singapore. Prospectus of the fund is available from FIMSL or its distributors upon request. Potential investors should read the prospectus before investing. All views expressed and references to specific securities are included for illustration only, and should not be construed as an offer or recommendation. This document is for information only and does not have regard to the specific investment objectives, financial situation and particular needs of the person who may receive it. Potential investor should seek advice from a financial adviser before investing. If that potential investor chooses not to seek advice from a financial adviser, he should consider whether the fund is suitable for him. Past performance of the fund is not indicative of the future performance. Prices can go up and down. The value of the shares of the fund and the income accruing to them may fall or rise. Investors investing in a fund denominated in a non-local currency should be aware of exchange rate risk. The fund is not available to US citizens, residents or greencard holders. This advertisement has not been reviewed by the Monetary Authority of Singapore. Fidelity, Fidelity International, and the Fidelity International logo and F symbol are trademarks of FIL Limited.

www.fidelity.com.sg