Supplement to the

Fidelity® Variable Insurance Products

Contrafund® Portfolio

Investor Class

April 29, 2024

Prospectus

 

 

Jean Park no longer serves as Co-Portfolio Manager of the fund.

The following information supplements information found in the "Fund Summary" section under the "Portfolio Manager(s)" heading.

Matthew Drukker (Co-Portfolio Manager) has managed the fund since 2024.

The following information supplements the biographical information found in the "Fund Management" section under the "Portfolio Manager(s)" heading.

Matthew Drukker is Co-Portfolio Manager of VIP Contrafund℠ Portfolio, which he has managed since 2024. He also manages other funds. Since joining Fidelity Investments in 2007, Mr. Drukker has worked as a research analyst and portfolio manager.

VCON-INV-PSTK-0524-111 1.918651.111

May 22, 2024

Supplement to the

Fidelity® Variable Insurance Products

Contrafund® Portfolio

Initial Class, Service Class, Service Class 2

April 29, 2024

Prospectus

 

 

Jean Park no longer serves as Co-Portfolio Manager of the fund.

The following information supplements information found in the "Fund Summary" section under the "Portfolio Manager(s)" heading.

Matthew Drukker (Co-Portfolio Manager) has managed the fund since 2024.

The following information supplements the biographical information found in the "Fund Management" section under the "Portfolio Manager(s)" heading.

Matthew Drukker is Co-Portfolio Manager of VIP Contrafund℠ Portfolio, which he has managed since 2024. He also manages other funds. Since joining Fidelity Investments in 2007, Mr. Drukker has worked as a research analyst and portfolio manager.

VCON-PSTK-0524-117 1.797984.117

May 22, 2024