Estimated supplemental fund distributions

1 VANGUARD FUNDTICKER2022 RECORD DATE2022 EX-DIVIDEND DATE2022 PAYABLE DATETOTAL PER-SHARE CAPITAL GAINS ESTIMATE% OF NAV ESTIMATEA dvice Select Dividend GrowthVADGX12/16/2212/19/2212/20/22 $ Select Global ValueVAGVX12/16/2212/19/2212/20/22 $ Select International GrowthVAIGX12/16/2212/19/2212/20/22<$ Index Admiral VBIAX12/27/2212/28/2212/29/22 $ Index InstitutionalVBAIX12/27/2212/28/2212/29/ 22 $ Index InvestorVBINX12/27/2212/28/2212/29/22 $ Opportunity Admiral VHCAX12/16/2212/19/2212/20/22 $ Opportunity InvestorVHCOX12/16/2212/19/2212/20/22 $ EquityVDEQX12/27/2212/28/2212/29/22 $ GrowthVDIGX12/27/2212/28/2212/29/22 $ Income AdmiralVEIRX12/15/2212/16/2212/19/22 $ Income InvestorVEIPX12/15/2212/16/2212/19/22 $ Admiral VEXRX12/16/2212/19/2212/20/22 $ InvestorVEXPX12/16/2212/19/2212/20/22 $ value VEVFX12/13/2212/14/2212/15/22 $ EquityVHGEX12/15/2212/16/2212/19/22 $ Minimum Volatility AdmiralVMNVX12/13/2212/14/2212/15/22 $ Minimum Volatility InvestorVMVFX12/13/2212/14/2212/15/22 $ Wellington AdmiralVGWAX12/15/2212/16/2212/19/22 $ Wellington InvestorVGWLX12/15/2212/16/2212/19/22 $ and Income AdmiralVGIAX12/16/2212/19/2212/20/22 $ and Income InvestorVQNPX12/16/2212/19/2212/20/22 $ Care Admiral VGHAX12/27/2212/28/2212/29/22 $ Care InvestorVGHCX12/27/2212/28/2212/29/22 $ Index InstitutionalVINIX12/27/2212/28/2212/29/ 22 $ Index Institutional PlusVIIIX12/27/2212/28/2212/29/22 $ Total Stock Market Index InstitutionalVITNX12/27/2212/28/2212/29/ 22 $ Total Stock Market Index Institutional PlusVITPX12/27/2212/28/2212/29/22 $ Estimated year-end distributionsThese figures are only estimates.

2 Actual year-end distributions may be higher or lower based on market volatility, portfolio and shareholder activity, and tax and balanced fundsVANGUARD FUNDTICKER2022 RECORD DATE2022 EX-DIVIDEND DATE2022 PAYABLE DATETOTAL PER-SHARE CAPITAL GAINS ESTIMATE% OF NAV ESTIMATEI nternational Growth AdmiralVWILX12/13/2212/14/2212/15/22 $ Growth InvestorVWIGX12/13/2212/14/2212/15/22 $ Conservative GrowthVSCGX12/27/2212/28/2212/29/22 $ GrowthVASGX12/27/2212/28/2212/29/22 $ Moderate GrowthVSMGX12/27/2212/28/2212/29/22 $ AllocationVPGDX12/27/2212/28/2212/29/22 $ Admiral VPMAX12/16/2212/19/2212/20/22 $ InvestorVPMCX12/16/2212/19/2212/20/22 $ CoreVPCCX12/16/2212/19/2212/20/22 $ Estate II Index Institutional PlusVRTPX12/20/2212/21/2212/22/22 $ ValueVASVX12/16/2212/19/2212/20/22 $ VGSTX12/27/2212/28/2212/29/22 $ EquityVSEQX12/15/2212/16/2212/19/22 $ Small-Cap EquityVSTCX12/15/2212/16/2212/19/22 $ Retirement 2020

3 VTWNX12/27/2212/28/2212/29/22 $ Retirement 2025 VTTVX12/27/2212/28/2212/29/22 $ Retirement 2030 VTHRX12/27/2212/28/2212/29/22 $ Retirement 2035 VTTHX12/27/2212/28/2212/29/22 $ Retirement 2040 VFORX12/27/2212/28/2212/29/22 $ Retirement 2045 VTIVX12/27/2212/28/2212/29/22 $ Retirement 2050 VFIFX12/27/2212/28/2212/29/22 $ Retirement 2055 VFFVX12/27/2212/28/2212/29/22 $ Retirement IncomeVTINX12/27/2212/28/2212/29/22 $ Income AdmiralVWIAX12/16/2212/19/2212/20/22 $ Income InvestorVWINX12/16/2212/19/2212/20/22 $ AdmiralVWENX12/27/2212/28/2212/29/22 $ InvestorVWELX12/27/2212/28/2212/29/22 $ AdmiralVWNEX12/16/2212/19/2212/20/22 $ InvestorVWNDX12/16/2212/19/2212/20/22 $ II AdmiralVWNAX12/16/2212/19/2212/20/22 $ II InvestorVWNFX12/16/2212/19/2212/20/22 $ FUNDTICKER2022 RECORD DATE2022 EX-DIVIDEND DATE2022 PAYABLE DATETOTAL PER-SHARE CAPITAL GAINS ESTIMATE% OF NAV ESTIMATEC alifornia Municipal Money MarketVCTXX12/27/2212/28/2212/29/22<$ Reserves Federal Money MarketVMRXX12/27/2212/28/2212/29/22<$ Money MarketVMSXX12/27/2212/28/2212/29/22<$ York Municipal Money MarketVYFXX12/27/2212/28/2212/29/22<$ market fundsRTPYEEST 112022 Connect with Vanguard 877-662-7447 For more information about Vanguard funds or Vanguard ETFs, visit to obtain a prospectus or, if available, a summary prospectus.

4 Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing is subject to risk, including the possible loss of the money you invest. Vanguard ETF Shares are not redeemable with the issuing fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when Money Market Funds: The fund is only available to retail investors (natural persons). You could lose money by investing in the fund . Although the fund seeks to preserve the value of your investment at $1 per share, it cannot guarantee it will do so.

5 The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund s sponsor has no legal obligation to provide financial support to the fund , and you should not expect that the sponsor will provide financial support to the fund at any time. Cash Reserves Federal Money Market fund : You could lose money by investing in the fund . Although the fund seeks to preserve the value of your investment at $1 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund s sponsor has no legal obligation to provide financial support to the fund , and you should not expect that the sponsor will provide financial support to the fund at any figures are only estimates.

6 Actual year-end distributions may be higher or lower based on market volatility, portfolio and shareholder activity, and tax adjustments. Vanguard is investor-owned, meaning the fund shareholders own the funds, which in turn own Vanguard. 2022 The Vanguard Group, Inc. All rights Marketing Corporation, Patent No. 6,879,964.