IMPORTANT TAX INFORMATION

Updated in February 2021, to include Strategic Advisers funds. 2020 Tax-Exempt Income from Fidelity Funds

Information for state tax reporting This information may help you prepare your state income tax return. If you owned shares of any of the Fidelity funds listed in the table on the following pages of this letter during 2020, a portion of the tax-exempt interest income you earned may be exempt from your state’s income tax. Fidelity calculates and reports the portion of tax-exempt interest dividend income that may be exempt from your state and/or local income tax for the state-specific funds in the “State/Local Tax- Exempt Income from Fidelity Funds” section of your 2020 Tax Reporting Statement. You will need to calculate the portion of tax-exempt interest dividend income that may be exempt from your state income tax for the municipal funds that are not state specific. To determine this amount, multiply the total tax-exempt interest dividend you received from the fund by the percentage listed in the table on the following pages for the state in which you are filing your income tax returns. Although state tax laws differ, many states do not tax interest on the bonds they issue or on interest from municipal bonds issued within the same state. Interest income from securities issued by U.S. territories and possessions is exempt from federal, state, and local income tax in all 50 states. For this reason, you should add the percentages listed for any U.S. territories or possessions to the percentage for your given state.

The following example shows how Massachusetts investors who owned the Fidelity® Intermediate Municipal Income Fund would calculate that portion of the tax-exempt interest they received from the fund that may be exempt from Massachusetts income tax. For the purpose of this example, assume an investor had a tax-exempt interest dividend distribution of $1,000.00.

Total percentage of qualifying interest Tax-exempt interest dividends from MA and U.S. territories Interest dividends you may be distribution (from your 2020 (from table) able to exclude on your state tax Tax Statement) MA 1.37%, GUA 0.00%, PR 0.00%, VI 0.00% return

$1,000 x 1.37% = $13.70

Interest dividends from municipal mutual funds are generally exempt from federal income taxes. Nonetheless, you are required to report this income on your 2020 federal income tax return. Your state tax return will contain specific instructions for reporting dividends, including tax-exempt interest dividends. You may also wish to consult your tax advisor, who is most familiar with your circumstances and the laws of your home state. If you have any questions, please call our client services line at 800-544-6666.

Fidelity does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Fidelity cannot guarantee that the information herein is accurate, complete, or timely. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.

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440491.24.0 The table below shows the income earned from the obligations of each state and territory as a percentage of the total tax-exempt interest dividend income earned by your fund during 2020.

Fidelity FlexSM Fidelity FlexSM Fidelity® Intermediate Fidelity® Conservative Income Conservative Income Municipal Income Municipal Income Municipal Fund: Fund Fund Fund State All Classes (FUEMX) (FUENX) (FLTMX) Alabama 1.10% 1.73% 0.90% 1.27% Alaska 0.83% 0.02% 0.02% 0.25% Arizona 1.26% 0.70% 2.80% 3.01% Arkansas 0.49% 0.10% 0.00% 0.03% California1 3.35% 0.98% 2.82% 3.63% Colorado 2.28% 1.80% 2.64% 2.36% Connecticut 2.60% 3.48% 2.24% 1.90% Delaware 0.13% 0.05% 0.01% 0.16% District Of Columbia 0.72% 0.99% 1.21% 0.98% Florida 7.42% 7.25% 6.04% 11.77% Georgia 4.47% 6.20% 3.51% 2.59% Guam 0.00% 0.00% 0.00% 0.00% Hawaii 0.12% 0.07% 0.48% 0.50% Idaho 0.08% 0.00% 0.02% 0.16% Illinois1 9.05% 16.20% 20.44% 17.01% Indiana 1.94% 1.61% 0.95% 2.20% Iowa 0.30% 0.00% 0.54% 0.07% Kansas 0.03% 0.01% 0.01% 0.13% Kentucky 3.21% 3.90% 3.18% 3.06% Louisiana 3.31% 2.62% 0.70% 0.75% Maine 0.03% 0.00% 0.90% 0.28% Maryland 0.21% 0.16% 1.23% 1.33% Massachusetts 2.21% 1.44% 4.00% 1.37% Michigan 4.59% 3.40% 1.59% 3.51% Minnesota1 0.33% 1.04% 1.27% 0.11% Mississippi 0.10% 0.31% 0.07% 0.31% Missouri 0.18% 0.33% 1.62% 0.57% Montana 0.08% 0.03% 0.05% 0.17% Nebraska 0.48% 0.56% 0.34% 0.52% Nevada 2.67% 1.77% 0.56% 1.17% New Hampshire 0.08% 0.00% 0.83% 0.86% New Jersey 10.55% 11.94% 6.39% 4.37% New Mexico 0.17% 0.00% 0.20% 0.14% New York 8.50% 6.71% 2.84% 4.28% North Carolina 0.77% 1.14% 0.43% 0.78% North Dakota 0.00% 0.00% 0.00% 0.00% Ohio 1.17% 1.26% 5.47% 1.98% Oklahoma 0.06% 0.00% 0.60% 0.63% Oregon 0.81% 0.42% 1.18% 0.16% Pennsylvania 3.54% 2.35% 7.99% 4.07% Puerto Rico 0.00% 0.00% 0.00% 0.00% Rhode Island 0.34% 1.11% 0.51% 0.56% South Carolina 1.12% 1.39% 2.88% 1.74% South Dakota 0.05% 0.02% 0.00% 0.11% Tennessee 0.68% 0.53% 1.66% 0.75% Texas 10.31% 9.87% 4.39% 13.08% Utah2 1.06% 0.22% 0.26% 0.19% Vermont 0.00% 0.00% 0.48% 0.01% Virgin Islands 0.00% 0.00% 0.00% 0.00% Virginia 1.98% 2.12% 1.20% 1.07% Washington 1.03% 1.06% 0.86% 2.48% West Virginia 2.98% 1.68% 0.05% 0.06% Wisconsin 1.44% 1.75% 1.64% 1.61% Wyoming 0.04% 0.06% 0.01% 0.00%

As always, consult your tax advisor as to whether all or some portion of the dividend income derived from a fund’s investment in municipal bonds issued by your home state and/or U.S. territories may be exempt from state income tax. 1Certain states require funds to meet in-state investment thresholds before a shareholder can exempt the income earned from bonds issued by his or her home state. In 2020, none of the funds listed above satisfied the thresholds imposed by California or Minnesota. Certain states, such as California, may require the payers of exempt interest dividends to report to the state tax authority any municipal bond interest and exempt-interest dividends paid to residents. Other states, such as Illinois, do not exempt interest earned from obligations issued by the state when held indirectly through a . 2Utah residents should refer to the letter, also available on the Fidelity Mutual Fund Tax Information page, that provides information on the treatment of distributions from Fidelity municipal funds based on Utah’s state law. The table below shows the income earned from the obligations of each state and territory as a percentage of the total tax-exempt interest dividend income earned by your fund during 2020.

Fidelity® Investments Money Market Tax Exempt Fidelity® Limited Term Fidelity® Municipal Fidelity® Municipal Portfolio: Municipal Income Fund Bond Income Fund State All Classes (FSTFX) (FMBIX) (FHIGX) Alabama 2.50% 0.66% 1.64% 0.28% Alaska 2.45% 0.39% 0.41% 0.00% Arizona 2.07% 3.54% 1.66% 1.91% Arkansas 0.18% 0.00% 0.09% 0.00% California1 2.05% 3.02% 16.96% 3.58% Colorado 3.52% 1.92% 1.52% 1.45% Connecticut 3.38% 5.21% 1.53% 1.64% Delaware 0.24% 0.10% 0.11% 0.00% District Of Columbia 1.61% 1.39% 1.39% 1.04% Florida 5.88% 8.88% 4.53% 9.08% Georgia 4.17% 4.00% 1.54% 1.63% Guam 0.00% 0.00% 0.00% 0.00% Hawaii 0.37% 0.40% 1.18% 0.88% Idaho 0.02% 0.02% 0.11% 0.02% Illinois1 5.15% 15.51% 5.70% 25.25% Indiana 1.05% 3.02% 1.16% 1.34% Iowa 0.56% 0.03% 0.20% 0.13% Kansas 1.21% 0.13% 0.30% 0.30% Kentucky 1.96% 3.83% 0.69% 1.17% Louisiana 4.32% 1.56% 2.14% 1.06% Maine 0.00% 0.14% 0.00% 1.40% Maryland 0.59% 1.16% 1.30% 0.84% Massachusetts 2.19% 0.85% 2.84% 2.37% Michigan 2.37% 2.78% 1.46% 2.45% Minnesota1 0.22% 0.78% 1.13% 0.33% Mississippi 0.58% 0.09% 0.65% 0.00% Missouri 2.00% 0.48% 0.88% 0.94% Montana 0.10% 0.19% 0.13% 0.03% Nebraska 0.84% 0.62% 0.21% 0.42% Nevada 0.71% 2.30% 0.87% 0.34% New Hampshire 0.23% 0.68% 0.00% 1.73% New Jersey 2.68% 6.97% 5.83% 5.42% New Mexico 0.00% 1.32% 0.25% 0.07% New York 5.92% 4.04% 16.01% 3.44% North Carolina 1.86% 1.40% 1.32% 0.76% North Dakota 0.04% 0.00% 0.00% 0.06% Ohio 4.01% 2.26% 1.91% 2.69% Oklahoma 0.46% 0.17% 0.36% 0.19% Oregon 0.40% 1.51% 0.87% 0.17% Pennsylvania 1.95% 1.72% 3.59% 6.97% Puerto Rico 0.00% 0.00% 0.15% 0.00% Rhode Island 0.09% 1.39% 0.16% 0.39% South Carolina 1.87% 0.92% 1.43% 4.10% South Dakota 0.00% 0.05% 0.00% 0.03% Tennessee 2.65% 1.41% 1.55% 0.72% Texas 17.60% 9.20% 9.62% 7.41% Utah2 0.73% 0.19% 0.25% 1.59% Vermont 0.04% 0.02% 0.00% 0.41% Virgin Islands 0.00% 0.00% 0.00% 0.00% Virginia 1.96% 0.72% 0.96% 0.65% Washington 3.40% 1.47% 2.87% 1.55% West Virginia 0.02% 0.16% 0.47% 0.12% Wisconsin 1.56% 1.59% 0.99% 1.64% Wyoming 0.54% 0.01% 0.07% 0.00%

As always, consult your tax advisor as to whether all or some portion of the dividend income derived from a fund’s investment in municipal bonds issued by your home state and/or U.S. territories may be exempt from state income tax. 1Certain states require funds to meet in-state investment thresholds before a shareholder can exempt the income earned from bonds issued by his or her home state. In 2020, none of the funds listed above satisfied the thresholds imposed by California or Minnesota. Certain states, such as California, may require the payers of exempt interest dividends to report to the state tax authority any municipal bond interest and exempt-interest dividends paid to residents. Other states, such as Illinois, do not exempt interest earned from obligations issued by the state when held indirectly through a mutual fund. 2Utah residents should refer to t he letter, also available on the Fidelity Mutual Fund Tax Information page, that provides information on the treatment of distributions from Fidelity municipal funds based on Utah’s state law. The table below shows the income earned from the obligations of each state and territory as a percentage of the total tax-exempt interest dividend income earned by your fund during 2020.

Fidelity® Municipal Fidelity® Municipal Fidelity® Municipal Fidelity® Municipal Fidelity® SAI Municipal Income 2021 Fund Income 2023 Fund Income 2025 Fund Bond Index Fund State (FOCFX) (FCHPX) (FIMSX) (FTEXX) (FSABX) Alabama 2.25% 1.51% 0.53% 2.53% 1.26% Alaska 0.00% 0.00% 0.00% 0.57% 0.03% Arizona 2.81% 3.66% 3.09% 1.19% 1.59% Arkansas 0.00% 0.00% 0.00% 0.39% 0.10% California1 3.58% 2.37% 3.11% 2.50% 18.35% Colorado 0.00% 1.43% 0.88% 3.52% 1.16% Connecticut 2.30% 3.27% 7.91% 2.90% 1.40% Delaware 0.00% 0.08% 0.00% 0.50% 0.07% District Of Columbia 0.00% 0.00% 1.46% 0.54% 1.47% Florida 6.21% 8.62% 8.00% 12.29% 4.46% Georgia 2.37% 1.68% 0.36% 8.67% 2.12% Guam 0.00% 0.00% 0.00% 0.00% 0.00% Hawaii 0.00% 0.00% 0.00% 0.43% 0.36% Idaho 0.00% 0.00% 0.00% 0.00% 0.10% Illinois1 8.69% 17.97% 13.37% 5.11% 6.37% Indiana 2.36% 1.70% 0.32% 1.49% 0.45% Iowa 0.00% 0.00% 0.00% 1.99% 0.17% Kansas 0.00% 0.00% 0.00% 1.55% 0.30% Kentucky 0.00% 0.35% 2.30% 4.59% 0.62% Louisiana 0.01% 2.33% 0.48% 3.24% 1.56% Maine 0.13% 0.61% 4.11% 0.00% 0.00% Maryland 0.00% 0.00% 0.98% 0.36% 1.98% Massachusetts 0.42% 2.63% 7.33% 0.49% 2.64% Michigan 9.22% 2.80% 3.44% 0.76% 1.32% Minnesota1 1.25% 0.85% 0.00% 0.08% 1.15% Mississippi 0.01% 0.00% 0.01% 0.49% 0.65% Missouri 0.17% 0.00% 3.81% 1.42% 0.87% Montana 0.00% 0.00% 0.00% 0.11% 0.04% Nebraska 0.00% 0.03% 0.00% 1.31% 0.26% Nevada 5.42% 2.89% 0.28% 2.42% 0.86% New Hampshire 0.00% 0.00% 1.38% 0.30% 0.00% New Jersey 21.26% 9.17% 7.32% 4.09% 6.23% New Mexico 0.00% 0.00% 0.00% 0.00% 0.17% New York 3.08% 6.23% 2.14% 3.60% 16.30% North Carolina 0.00% 0.00% 0.00% 0.28% 1.48% North Dakota 0.00% 0.00% 0.00% 0.00% 0.21% Ohio 1.64% 7.55% 4.83% 1.76% 1.88% Oklahoma 0.00% 0.00% 0.11% 0.63% 0.47% Oregon 2.11% 1.79% 3.27% 0.38% 1.22% Pennsylvania 7.25% 6.29% 9.03% 1.78% 4.15% Puerto Rico 0.00% 0.00% 0.00% 0.00% 0.33% Rhode Island 0.00% 1.16% 0.00% 0.14% 0.27% South Carolina 1.34% 0.21% 0.00% 0.65% 1.15% South Dakota 0.32% 0.34% 0.00% 0.07% 0.00% Tennessee 1.12% 1.43% 2.77% 2.51% 1.47% Texas 9.84% 3.06% 1.46% 16.31% 8.09% Utah2 0.00% 0.00% 0.17% 0.71% 0.20% Vermont 0.00% 0.00% 1.08% 0.00% 0.00% Virgin Islands 0.00% 0.00% 0.00% 0.00% 0.00% Virginia 0.40% 1.65% 0.35% 0.43% 1.41% Washington 3.27% 4.76% 2.11% 2.46% 3.43% West Virginia 0.00% 0.00% 0.00% 1.59% 0.24% Wisconsin 1.67% 1.58% 2.18% 1.09% 0.94% Wyoming 0.00% 0.00% 0.00% 0.54% 0.09%

As always, consult your tax advisor as to whether all or some portion of the dividend income derived from a fund’s investment in municipal bonds issued by your home state and/or U.S. territories may be exempt from state income tax. 1Certain states require funds to meet in-state investment thresholds before a shareholder can exempt the income earned from bonds issued by his or her home state. In 2020, none of the funds listed above satisfied the thresholds imposed by California or Minnesota. Certain states, such as California, may require the payers of exempt interest dividends to report to the state tax authority any municipal bond interest and exempt-interest dividends paid to residents. Other states, such as Illinois, do not exempt interest earned from obligations issued by the state when held indirectly through a mutual fund. 2Utah residents should refer to the letter, also available on the Fidelity Mutual Fund Tax Information page, that provides information on the treatment of distributions from Fidelity municipal funds based on Utah’s state law. The table below shows the income earned from the obligations of each state and territory as a percentage of the total tax-exempt interest dividend income earned by your fund during 2020. Fidelity® Fidelity® Fidelity® Fidelity® Fidelity® Strategic Advisers® SAI Municipal SAI Municipal Money SAI Tax-Free Tax-Exempt Money Tax-Free Bond Tax-Sensitive Short Income Fund Market Fund Bond Fund Market Fund: Fund Duration Fund State (FSMNX) (FMQXX) (FSAJX) All Classes (FTABX) (FGNSX) Alabama 0.57% 3.18% 1.47% 1.29% 0.81% 1.53% Alaska 0.21% 0.68% 0.07% 1.77% 0.23% 0.39% Arizona 1.60% 0.55% 2.05% 2.09% 2.08% 2.80% Arkansas 0.00% 0.40% 0.00% 0.20% 0.00% 0.85% California1 2.20% 0.89% 2.01% 3.45% 3.71% 2.66% Colorado 2.45% 3.42% 2.35% 3.91% 0.95% 2.69% Connecticut 1.95% 1.56% 4.49% 3.52% 2.35% 2.61% Delaware 0.04% 0.99% 0.06% 0.23% 0.40% 0.12% District Of Columbia 1.76% 0.29% 2.36% 1.32% 0.86% 0.71% Florida 8.61% 13.27% 5.71% 5.74% 7.86% 5.24% Georgia 2.48% 5.01% 3.07% 6.00% 3.29% 4.34% Guam 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Hawaii 0.54% 0.18% 0.57% 0.73% 0.11% 0.08% Idaho 0.01% 0.08% 0.01% 0.14% 0.29% 0.34% Illinois1 23.26% 3.94% 14.67% 5.56% 21.62% 7.77% Indiana 1.11% 1.96% 0.80% 0.86% 1.68% 1.93% Iowa 0.15% 1.68% 0.34% 1.58% 0.16% 0.53% Kansas 0.25% 1.33% 0.01% 1.22% 0.38% 0.53% Kentucky 1.48% 4.60% 4.01% 2.15% 2.65% 2.99% Louisiana 0.97% 3.38% 1.28% 3.22% 0.37% 1.56% Maine 1.24% 0.00% 0.52% 0.00% 1.26% 0.05% Maryland 0.61% 0.13% 0.64% 2.23% 0.65% 1.10% Massachusetts 2.69% 0.93% 3.61% 2.16% 2.04% 1.60% Michigan 2.29% 1.87% 2.69% 2.03% 2.56% 2.76% Minnesota1 0.13% 0.10% 0.68% 0.69% 1.29% 0.97% Mississippi 0.01% 0.86% 0.18% 0.81% 0.01% 0.32% Missouri 0.45% 1.27% 1.39% 1.64% 0.99% 0.57% Montana 0.03% 0.12% 0.01% 0.11% 0.01% 0.18% Nebraska 0.57% 1.60% 0.59% 0.92% 0.70% 0.37% Nevada 0.38% 3.61% 1.47% 0.98% 1.12% 2.27% New Hampshire 1.40% 0.37% 0.54% 0.21% 1.16% 0.28% New Jersey 5.43% 2.02% 5.19% 2.27% 4.89% 6.30% New Mexico 0.07% 0.00% 0.72% 0.00% 0.08% 0.32% New York 3.57% 5.77% 6.19% 2.93% 4.96% 10.99% North Carolina 0.72% 0.30% 1.54% 1.49% 1.60% 0.89% North Dakota 0.03% 0.00% 0.00% 0.36% 0.10% 0.10% Ohio 3.39% 1.36% 4.74% 2.68% 2.89% 2.56% Oklahoma 0.18% 0.05% 0.12% 0.78% 0.46% 0.40% Oregon 0.18% 0.18% 1.11% 0.39% 0.98% 0.35% Pennsylvania 7.89% 1.00% 6.82% 2.86% 4.67% 4.25% Puerto Rico 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Rhode Island 0.52% 0.22% 0.02% 0.05% 0.32% 0.22% South Carolina 3.44% 1.08% 1.79% 1.99% 3.76% 1.06% South Dakota 0.03% 0.00% 0.08% 0.00% 0.19% 0.02% Tennessee 0.41% 3.29% 1.01% 2.89% 1.03% 1.12% Texas 8.51% 21.09% 7.74% 17.09% 7.05% 12.92% Utah2 1.52% 2.24% 0.54% 0.27% 0.44% 0.31% Vermont 0.45% 0.00% 0.10% 0.00% 0.24% 0.03% Virgin Islands 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Virginia 0.50% 0.54% 0.58% 1.89% 0.44% 3.16% Washington 1.53% 1.57% 2.96% 3.34% 2.65% 2.48% West Virginia 0.10% 1.30% 0.00% 0.04% 0.08% 0.83% Wisconsin 2.11% 0.30% 1.43% 1.74% 1.63% 2.12% Wyoming 0.00% 0.30% 0.30% 0.63% 0.00% 0.13%

As always, consult your tax advisor as to whether all or some portion of the dividend income derived from a fund’s investment in municipal bonds issued by your home state and/or U.S. territories may be exempt from state income tax. 1Certain states require funds to meet in-state investment thresholds before a shareholder can exempt the income earned from bonds issued by his or her home state. In 2020, none of the funds listed above satisfied the thresholds imposed by California or Minnesota. Certain states, such as California, may require the payers of exempt interest dividends to report to the state tax authority any municipal bond interest and exempt-interest dividends paid to residents. Other states, such as Illinois, do not exempt interest earned from obligations issued by the state when held indirectly through a mutual fund. 2Utah residents should refer to the letter, also available on the Fidelity Mutual Fund Tax Information page, that provides information on the treatment of distributions from Fidelity municipal funds based on Utah’s state law.