FIDELITY’S MONTHLY FUND UPDATE FOR …

1 FIDELITY S MONTHLY FUND UPDATE FOR ADVISORS | D ECEMBER 2018 RAADDVISORRSS||DECEMBER 2018 FOR ADVISOR USE ONLYEQUITY FUNDSC anadianFidelity Canadian Disciplined Equity Fund 1 Fidelity Canadian Growth Company Fund 2 Fidelity Canadian Large Cap Fund 3 Fidelity Canadian Opportunities Fund 4 Fidelity Dividend Fund 5 Fidelity Dividend Plus Fund 6 Fidelity Greater Canada Fund 7 Fidelity Special Situations Fund 8 Fidelity True North Fund American Disciplined Equity Fund 10 Fidelity American Equity Fund 11 Fidelity Event Driven Opportunities Fund 12 Fidelity Small Cap America Fund 13 Fidelity All Cap Fund 14 Fidelity Dividend Fund 15 Fidelity Dividend Registered Fund 16 Fidelity Focused Stock Fund 17 North American Fidelity North American Equity Class 18 Global and InternationalFidelity AsiaStar Fund 19 Fidelity China Fund 20 Fidelity Emerging Markets Fund 21 Fidelity Europe Fund 22 Fidelity Far East Fund 23 Fidelity Founders Class 24 Fidelity Frontier Emerging Markets Fund 25 Fidelity Global Fund 26 Fidelity Global Concentrated Equity Fund 27 Fidelity Global Disciplined Equity Fund 28 Fidelity Global Dividend Fund 29 Fidelity Global Growth and Value Class 30 Fidelity Global Innovators Class 31 Fidelity Global Intrinsic Value Class 32 Fidelity Global Large Cap Fund 33 Fidelity Global Small Cap Fund 34 Fidelity Insights Class 35 Fidelity International Concentrated Equity Fund 36 Fidelity International Disciplined Equity Fund 37 Fidelity International Growth Fund 38 Fidelity Japan Fund 39 Fidelity NorthStar Fund 40 EQUITY SECTOR FUNDSG lobalFidelity Global Consumer Industries Fund 41 Fidelity Global Financial Services Fund 42 Fidelity Global Health Care Fund 43 Fidelity Global Natural Resources Fund 44 Fidelity Global Real Estate Fund 45 Fidelity Technology Innovators Fund 46 Fidelity

2 Global Telecommunications Fund 47 ASSET ALLOCATION AND BALANCED FUNDSC anadianFidelity Canadian Asset Allocation Fund 48 Fidelity Canadian Balanced Fund 49 Fidelity Income Allocation Fund 50 Fidelity MONTHLY Income Fund American Balanced Fund 52 Fidelity MONTHLY Income Fund 53 GlobalFidelity Conservative Income Fund 54 Fidelity Global Asset Allocation Fund 55 Fidelity Global MONTHLY Income Fund 56 Fidelity NorthStar Balanced Fund 57 Fidelity Tactical High Income Fund 58 Fidelity Tactical Strategies Fund 59 FIXED-INCOME FUNDSC anadianFidelity Canadian Bond Fund 60 Fidelity Canadian Short Term Bond Fund 61 Fidelity Corporate Bond Fund 62 Fidelity Tactical Fixed Income Fund 63 Fidelity Canadian Money Market Fund Money Market Fund 64 Fidelity American High Yield Fund 65 Fidelity Floating Rate High Income Fund 66 GlobalFidelity Global Bond Fund 67 Fidelity Investment Grade Total Bond Fund 68 Fidelity Multi-Sector Bond Fund 69 Fidelity Strategic Income Fund 70 Data within this document are as at the date indicated at the top right corner of each fund page.

3 Unless noted advisor use of contentsFor advisor use MANAGED PORTFOLIOSF idelity Income Portfolio 71 Fidelity Global Income Portfolio 72 Fidelity Balanced Portfolio 73 Fidelity Global Balanced Portfolio 74 Fidelity Growth Portfolio 75 Fidelity Global Growth Portfolio 76 Fidelity Balanced Managed Risk Portfolio 77 Fidelity Conservative Managed Risk Portfolio 78 LIFECYCLE FUNDSF idelity ClearPath Income Portfolio 79 Fidelity ClearPath 2005 Portfolio 80 Fidelity ClearPath 2010 Portfolio 81 Fidelity ClearPath 2015 Portfolio 82 Fidelity ClearPath 2020 Portfolio 83 Fidelity ClearPath 2025 Portfolio 84 Fidelity ClearPath 2030 Portfolio 85 Fidelity ClearPath 2035 Portfolio 86 Fidelity ClearPath 2040 Portfolio 87 Fidelity ClearPath 2045 Portfolio 88 Fidelity ClearPath 2050 Portfolio 89 Fidelity ClearPath 2055 Portfolio 90 Fidelity ClearPath 2060 Portfolio 91 FIDELITY PRIVATE INVESTMENT POOLSF idelity Canadian Equity Private Pool 92 Fidelity Concentrated Canadian Equity Private Pool 93 Fidelity Concentrated Value Private Pool 94 Fidelity Dividend Private Pool 95 Fidelity Equity Private Pool 96 Fidelity International Equity Private Pool 97 Fidelity Global Equity Private Pool 98 Fidelity Premium Fixed Income Private Pool 99 Fidelity Premium Tactical Fixed Income Private Pool 100 Fidelity Premium Money Market Private Pool 101 Fidelity Asset Allocation Private Pool 102 Fidelity Balanced Private Pool 103 Fidelity Balanced Income Private Pool 104 Fidelity Conservative Income Private Pool 105 Fidelity Global Asset Allocation Private Pool 106 Fidelity Growth and Income Private Pool 107 CURRENCY NEUTRALF idelity currency neutral solutions 109 FIDELITY FUND FACTSFund facts at-a-glance 111 The Fidelity sales team 125 EQUITY FUNDSAS AT OCTOBER 31.

4 2018 For advisor use Fidelity sales and service information, refer to Fidelity fund facts (pages 111-124).1 MarketPulseFidelity Canadian Disciplined Equity FundSector neutral. Actively managed. Fidelity Canadian Disciplined Equity Fund combines the discipline of a sector-neutral investment approach with the freedom to pursue the best opportunities in the market through active stock (SERIES B)Standard period returnsStandard period returnsFUNDMORNINGSTAR QUARTILE4 BENCHMARK11 of $10,000 since inception4 Growth of $10,000 since inception4$0$15,000$30,000$45,000$60,000 $75,000 SEP-98 OCT-18 FUNDBENCHMARK$57,027 Calendar year performanceCalendar year performance-10%0%10%20%30% QUARTILE144212 Fund risk measures2 Fund risk measures2 FUNDBENCHMARKA nnual Standard Volatility meter4 Volatility meter4 LOWLOW TO MEDIUMMEDIUMMEDIUM TO HIGHHIGHQUARTERLY TOP TEN HOLDINGSAS AT SEPTEMBER 30, 2018 Royal Bank of Canada FinancialsToronto-Dominion Bank FinancialsSuncor Energy EnergyCanadian National Railway IndustrialsBrookfield Asset Management FinancialsCanadian Natural Resources EnergyEnbridge EnergyThomson Reuters FinancialsAlimentation Couche-Tard Consumer StaplesSun Life Financial FinancialsTotal holdings70 Top 10 holdings MIX (%)

5 CURRENT MONTHPREVIOUS MONTHC anadian & SECTOR MIX3 (%) Prior to April 30, 2002, the Fund s benchmark was a blend of the TSE 300 Index and the TSE 300 Capped Index. Prior to May 1, 2000, the benchmark was the TSE 300 Index. 2 Risk measures are based on 3-year net returns (Series B). 3 The Fund aims to invest in sectors in approximately the same proportions as those sectors are represented in the S&P/TSX Capped Composite Index, with the exception of the real estate sector which the portfolio manager will consider as an industry group within the financials sector. 4 Please refer to important information on page DEVIATIONSECTOR DEVIATIONMARKET CAP FOCUSMARKET CAP FOCUSVALUEMINIMALSMALLBLENDMODERATEMIDGR OWTHWIDELARGEFund factsPortfolio managerAndrew MarcheseFund inception dateSeptember 29, 1998 Fund benchmark1S&P/TSX Capped Composite IndexNAVPU - Series B$ aggregate assets (all series)$ billionManagement expense ratio Series , as at December 31, 2017 Also offered throughCorporate ClassT-SWP Morningstar fund categoryCanadian EquityFund CodesCANADIAN DOLLARS eries A:DSC524LL824LL2024 Series B:ISC224 Series F:NL624 Series T8 (T-SWP):DSC508LL808LL2308 Series S8 (T-SWP):ISC208 Series F8 (T-SWP):NL1843 Series T5 (T-SWP):DSC1518LL1818LL21318 Series S5 (T-SWP):ISC1218 Series F5 (T-SWP):NL1839 EQUITY FUNDSAS AT OCTOBER 31, 2018 For advisor use Fidelity sales and service information, refer to Fidelity fund facts (pages 111-124).

6 MarketPulse 2 Fidelity Canadian Growth Company FundDiversified exposure to Canada s world-class growth opportunities Fidelity Canadian Growth Company Fund aims to deliver superior long-term growth potential by focusing on the best growth opportunities in Canada and (SERIES B)Standard period returnsStandard period returnsFUNDMORNINGSTAR QUARTILE3 BENCHMARK11 of $10,000 since inception3 Growth of $10,000 since inception3$0$35,000$70,000$105,000$140,0 00$175,000 JUL-94 OCT-18 FUNDBENCHMARK$126,539 Calendar year performanceCalendar year performance-10%0%10%20%30%40%50% QUARTILE112111 Fund risk measures2 Fund risk measures2 FUNDBENCHMARKA nnual Standard Volatility meter3 Volatility meter3 LOWLOW TO MEDIUMMEDIUMMEDIUM TO HIGHHIGHQUARTERLY TOP TEN HOLDINGSAS AT SEPTEMBER 30, 2018 Canadian Pacific Railway IndustrialsShopify Information TechnologyEtsy Consumer DiscretionaryToronto-Dominion Bank FinancialsSarepta Therapeutics Health CareSquare Information TechnologyCanadian National Railway IndustrialsCenovus Energy EnergyMicrosoft Information TechnologySuncor Energy EnergyTotal holdings109 Top 10 holdings MIX (%)

7 CURRENT MONTHPREVIOUS MONTHF oreign & SECTOR MIX (%)Information Prior to October 1, 2008, the Fund s benchmark was the S&P/TSX Completion Index. Prior to March 16, 2007, the benchmark was a blend of the S&P/TSX Small Cap Index and S&P/TSX Mid Cap Combined Index. Prior to May 1, 2002, the benchmark was a blend of the TSE Small Cap Index and the TSE Mid Cap Index. Prior to May 1, 2000, the benchmark was the TSE 200 Index. 2 Risk measures are based on 3-year net returns (Series B). 3 Please refer to important information on page DEVIATIONSECTOR DEVIATIONMARKET CAP FOCUSMARKET CAP FOCUSVALUEMINIMALSMALLBLENDMODERATEMIDGR OWTHWIDELARGEFund factsPortfolio managerMark SchmehlFund inception dateJuly 11, 1994 Fund benchmark170% S&P/TSX Capped Composite Index and 30% S&P 500 IndexNAVPU - Series B$ aggregate assets (all series)$ billionManagement expense ratio Series , as at December 31, 2017 Also offered throughCorporate ClassMorningstar fund categoryCanadian Focused EquityFund CodesCANADIAN DOLLARS eries A:DSC565LL865LL2065 Series B:ISC265 Series F:NL665 Series F8 (T-SWP):NL5228 Series F5 (T-SWP):NL5227 EQUITY FUNDSAS AT OCTOBER 31, 2018 For advisor use Fidelity sales and service information, refer to Fidelity fund facts (pages 111-124).

8 3 MarketPulseFidelity Canadian Large Cap FundDiversified coverage of Canada's core opportunities Fidelity Canadian Large Cap Fund seeks to deliver superior long-term growth by investing primarily in equity securities of Canadian and international mid and large capitalization (SERIES B)Standard period returnsStandard period returnsFUNDMORNINGSTAR QUARTILE3 BENCHMARK11 of $10,000 since inception3 Growth of $10,000 since inception3$0$45,000$90,000$135,000$180,0 00$225,000 FEB-88 OCT-18 FUNDBENCHMARK$140,720 Calendar year performanceCalendar year performance-10%0%10%20%30%40% QUARTILE243121 Fund risk measures2 Fund risk measures2 FUNDBENCHMARKA nnual Standard Volatility meter3 Volatility meter3 LOWLOW TO MEDIUMMEDIUMMEDIUM TO HIGHHIGHQUARTERLY TOP TEN HOLDINGSAS AT SEPTEMBER 30, 2018 SPDR Gold Trust ETF MaterialsImperial Brands Consumer StaplesRogers Communications Communication ServicesThomson Reuters FinancialsFairfax Financial Holdings FinancialsOpen Text Information TechnologyMetro Consumer StaplesHydro One UtilitiesEmpire Company Consumer StaplesCGI Information TechnologyTotal holdings50 Top 10 holdings MIX (%)

9 CURRENT MONTHPREVIOUS MONTHC anadian & SECTOR MIX (%) Prior to February 1, 2009, the Fund s benchmark was the S&P/TSX 60 Capped Index. Prior to September 30, 2004, the benchmark was a blend of the S&P/TSX Composite Index and the S&P/TSX Capped Composite Index. Prior to May 1, 2002, the benchmark was a blend of the TSE 300 Index and the TSE 300 Capped Index. Prior to May 1, 2000, the benchmark was the TSE 300 Index. 2 Risk measures are based on 3-year net returns (Series B). 3 Please refer to important information on page DEVIATIONSECTOR DEVIATIONMARKET CAP FOCUSMARKET CAP FOCUSVALUEMINIMALSMALLBLENDMODERATEMIDGR OWTHWIDELARGEFund factsPortfolio managerDaniel DupontFund inception dateFebruary 1, 1988 Fund benchmark170% S&P/TSX 60 Capped Index and 30% S&P 500 IndexNAVPU - Series B$ aggregate assets (all series)$ billionManagement expense ratio Series , as at December 31, 2017 Also offered throughCorporate ClassT-SWP Morningstar fund categoryCanadian Focused EquityFund CodesCANADIAN DOLLARS eries A:DSC531LL831LL2031 Series B:ISC231 Series F:NL631 Series T8 (T-SWP):DSC1654LL1656LL21659 Series S8 (T-SWP):ISC1661 Series F8 (T-SWP):NL1666 Series T5 (T-SWP):DSC1539LL1578LL21653 Series S5 (T-SWP):ISC1660 Series F5 (T-SWP):NL1662 EQUITY FUNDSAS AT OCTOBER 31, 2018 For advisor use Fidelity sales and service information, refer to Fidelity fund facts (pages 111-124).

10 MarketPulse 4 Fidelity Canadian Opportunities FundSecuring dynamic investment opportunities in Canada Fidelity Canadian Opportunities Fund pursues superior long-term returns by focusing on the dynamic growth potential of the small- and mid-capitalization (SERIES B)Standard period returnsStandard period returnsFUNDMORNINGSTAR QUARTILE3 BENCHMARK11 of $10,000 since inception3 Growth of $10,000 since inception3$0$10,000$20,000$30,000$40,000 $50,000 JUL-00 OCT-18 FUNDBENCHMARK$37,922 Calendar year performanceCalendar year performance-20%-10%0%10%20%30% QUARTILE131313 Fund risk measures2 Fund risk measures2 FUNDBENCHMARKA nnual Standard Volatility meter3 Volatility meter3 LOWLOW TO MEDIUMMEDIUMMEDIUM TO HIGHHIGHQUARTERLY TOP TEN HOLDINGSAS AT SEPTEMBER 30, 2018 Alimentation Couche-Tard Consumer StaplesLoblaw Consumer StaplesMetro Consumer StaplesRestaurant Brands International Consumer DiscretionaryConstellation Software Information TechnologyCogeco Communications Communication ServicesChipotle Mexican Grill Consumer DiscretionaryFranco-Nevada MaterialsCGI Information TechnologyPrairieSky Royalty EnergyTotal holdings82 Top 10 holdings MIX (%)CURRENT MO