SectorCo
Multiple Class of Shares Plan
for
Fidelity Funds with Retail, Retirement and/or Advisor Classes
Dated August 27, 2017
This Multiple Class of Shares Plan (the “Plan”), when effective in accordance with its provisions, shall be the written plan contemplated by Rule 18f-3 under the Investment Company Act of 1940 (the “1940 Act”) for the portfolios (each, a “Fund”) of the respective Fidelity Trusts (each, a “Trust”) as listed on Schedule I to this Plan. For purposes of the Plan, the term Fidelity Advisor Fund includes any Fidelity fund that offers Advisor classes of shares.
1. Classes Offered. Each Fund may offer up to eight classes of its shares: Class A, Class M, Class C, Class I, Class K, Class F, Class Z and a retail class.
2. Distribution and Shareholder Service Fees. Distribution fees and/or shareholder service fees shall be calculated and paid in accordance with the terms of the then-effective plan pursuant to Rule 12b-l under the 1940 Act for the applicable class. Distribution and shareholder service fees currently authorized are as set forth in Schedule I to this Plan.
3. Conversion Privileges. Retail class shares will be converted into Class K shares of the same Fund if Class K is offered as an investment option under an employer-sponsored retirement plan (“Retirement Plan”). If a Retirement Plan is no longer eligible to offer Class K, Class K shares will be converted into retail class shares of the same Fund. Any conversion from Class K to retail class will be preceded by written notice to the investor.
Class A, Class M, Class C, Class I and retail class shares will be converted into Class Z shares of the same Fund if Class Z is offered as an investment option under a Retirement Plan. If a Retirement Plan is no longer eligible to offer Class Z shares, Class Z shares may be converted into another class of shares of the same Fund offered as an investment option under the Retirement Plan. Any conversion from Class Z shares to another class of shares of the same Fund will be preceded by written notice to the investor.
All conversions pursuant to this section 3 shall be made on the basis of the relative net asset values of the two classes, without the imposition of any sales load, fee, or other charge.
4. Exchange Privileges. Exchanges are subject to minimum investment limitations and other eligibility requirements of the applicable class of shares of each Fund.
Class A: Shares of Class A may be exchanged for shares of (i) any other Fidelity Advisor Fund: Class A; (ii) Daily Money Class shares of any other Fidelity Fund; and (iii) the same Fidelity Advisor Fund: Class Z or Class I.
Class M: Shares of Class M may be exchanged for shares of (i) any other Fidelity Advisor Fund: Class M; (ii) Daily Money Class shares of any other Fidelity Fund; and (iii) the same Fidelity Advisor Fund: Class A, Class Z or Class I.
Class C: Shares of Class C may be exchanged for shares of (i) any other Fidelity Advisor Fund: Class C; (ii) Fidelity Treasury Money Market Fund - Advisor C Class; and (iii) subject to any applicable sales load, the same Fidelity Advisor Fund: Class A, Class M, Class Z or Class I.
Class I: Shares of Class I may be exchanged for shares of (i) any other Fidelity Advisor Fund: Class I; (ii) any Fidelity Retail Fund offering an exchange privilege to other Fidelity Retail Funds; and (iii) subject to any applicable sales load, the same Fidelity Advisor Fund: Class A, if no longer eligible for Class I, or Class Z.
Class K: Shares of Class K may be exchanged for shares of any class of a Fidelity Fund available through an investor’s Retirement Plan.
Class F: Shares of Class F may not be exchanged for shares of any class of a Fidelity Fund.
Class Z: Shares of Class Z may be exchanged for shares of (i) any class of a Fidelity Fund available through an investor’s Retirement Plan, and (ii) subject to any applicable sales load, the same Fidelity Advisor Fund: Class A or Class I, if no longer eligible for Class Z.
A Retail Class: A retail class of a Fidelity Advisor Fund or a Fidelity Retail Fund may be exchanged for (i) shares of any Fidelity Retail Fund or class offering an exchange privilege to other Fidelity Retail Funds or classes, or (ii) if held through a Retirement Plan, shares of any class of a Fidelity Fund available through an investor’s Retirement Plan.
5. Allocations. Income, gain, loss and expenses shall be allocated under this Plan as follows:
A. Class Expenses: The following expenses shall be allocated exclusively to the applicable specific class of shares: (i) distribution and shareholder service fees; and (ii) transfer agent fees.
B. Fund Income, Gain, Loss and Expenses: Income, gain, loss and expenses not allocated to specific classes as specified above shall be charged to the Fund and allocated daily to each class of an equity fund in a manner consistent with Rule 18f-3(c)(1)(i) and of a fixed-income and money market fund in a manner consistent with Rule 18f-3(c)(1)(iii). As necessary to limit class net asset value per share divergences and ensure that the annualized rates of return of the classes generally differ only to the extent of the expense differentials among the classes, dilution caused by share purchases and redemptions, booking of trades, and accrual of expenses based on prior-day net assets shall be allocated to each class based on relative net assets.
6. Voting Rights. Each class of shares governed by this Plan (i) shall have exclusive voting rights on any matter submitted to shareholders that relates solely to its arrangement; and (ii) shall have separate voting rights on any matter submitted to shareholders in which the interests of one class differ from the interests of any other class.
7. Effective Date of Plan. This Plan shall become effective upon approval by a vote of at least a majority of the Trustees of the Trust, and a majority of the Trustees of the Trust who are not “interested persons” of the Trust, which vote shall have found that this Plan as proposed to be adopted, including expense allocations, is in the best interests of each class individually and of the Fund as a whole; or upon such other date as the Trustees shall determine.
8. Amendment of Plan. Any material amendment to this Plan shall become effective upon approval by a vote of at least a majority of the Trustees of the Trust, and a majority of the Trustees of the Trust who are not “interested persons” of the Trust, which vote shall have found that this
Plan as proposed to be amended, including expense allocations, is in the best interests of each class individually and of the Fund as a whole; or upon such other date as the Trustees shall determine.
9. Severability. If any provision of this Plan shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of the Plan shall not be affected thereby.
10. Limitation of Liability. Consistent with the limitation of shareholder liability as set forth in each Trust’s Declaration of Trust or other organizational document, any obligations assumed by any Fund or class thereof, and any agreements related to this Plan shall be limited in all cases to the relevant Fund and its assets, or class and its assets, as the case may be, and shall not constitute obligations of any other Fund or class of shares. All persons having any claim against a Fund, or any class thereof, arising in connection with this Plan, are expressly put on notice of such limitation of shareholder liability, and agree that any such claim shall be limited in all cases to the relevant Fund and its assets, or class and its assets, as the case may be, and such person shall not seek satisfaction of any such obligation from the shareholders or any shareholder of the Trust, class or Fund; nor shall such person seek satisfaction of any such obligation from the Trustees or any individual Trustee of the Trust.
Exhibit 77Q1 Additional Items
Item 15
Foreign Sub-Custodian Network for Brown Brothers Harriman & Co. |
| |||
| Market | Subcustodian | Zip Code | City / Country |
| Argentina | CITIBANK, N.A. BUENOS AIRES BRANCH | C1036AAJ | Buenos Aires / Argentina |
| Australia | HSBC BANK AUSTRALIA LIMITED FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) | 2150 | Parramatta / Australia |
| Austria | DEUTSCHE BANK AG | 1010 | Vienna / Austria |
| Bahrain | HSBC BANK MIDDLE EAST LIMITED, BAHRAIN BRANCH FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) | 428 | Manama / Bahrain |
| Bangladesh | Standard Chartered Bank, Bangladesh Branch | 1000 | Dhaka / Bangladesh |
| Belgium | BNP Paribas Securities Services | 93500 | Brussels / Belgium |
| Bermuda | HSBC BANK BERMUDA LIMITED FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) | HM11 | Hamilton / Bermuda |
| Bosnia | UNICREDIT BANK D.D. FOR UNICREDIT BANK AUSTRIA AG | 1090 | Vienna / Austria |
| Botswana | STANDARD CHARTERED BANK BOTSWANA LIMITED FOR STANDARD CHARTERED BANK | Not Applicable | Gaborone / Botswana |
| Brazil | Citibank N.A., São Paulo | 01311-920 | Sao Paulo / Brazil |
| Bulgaria | CITIBANK EUROPE PLC, BULGARIA BRANCH FOR CITIBANK, N.A. | 1404 | Sofia / Bulgaria |
| Canada | CIBC MELLON TRUST COMPANY FOR CIBC MELLON TRUST COMPANY, CANADIAN IMPERIAL BANK OF COMMERCE AND | M5J 0B6 | Toronto / Canada |
| Chile | Banco de Chile for Citibank N.A. | 7550611 | Santiago / Chile |
| China | STANDARD CHARTERED BANK (CHINA) LIMITED FOR STANDARD CHARTERED BANK | 200120 | Shanghai / China |
| Colombia | CITITRUST COLOMBIA S.A., SOCIEDAD FIDUCIARIA FOR CITIBANK, N.A. | Not Applicable | Bogota / Colombia |
| Costa Rica | BANCO BCT SA FOR CORPORACION BCT SA | 10103 | San Jose / Costa Rica |
| Croatia | ZAGREBACKA BANKA D.D. FOR UNICREDIT BANK AUSTRIA AG | 1090 | Vienna / Austria |
| Cyprus | BNP Paribas Securities Services | 115 28 | Athens / Greece |
| Czech Republic | CITIBANK EUROPE PLC, ORGANIZAČNÍ SLOZKA FOR CITIBANK, N.A. | 158 02 | Praha / Czech Republic |
| Denmark | SKANDINAVISKA ENSKILDA BANKEN AB (PUBL), DANMARK BRANCH | DK-1014 | Copenhagen / Denmark |
| Egypt | HSBC Bank Egypt S.A.E. for the Hongkong and Shanghai Banking Corporation Limited (HSBC) | 11511 | Cairo / Egypt |
| Estonia | SWEDBANK AS FOR NORDEA BANK AB (PUBL) | FI-00020 NORDEA | Tallinn / Finland |
| Finland | NORDEA BANK AB (PUBL), FINNISH BRANCH | FI-00020 NORDEA | Helsinki / Finland |
| France | BNP PARIBAS SECURITIES SERVICES | 93500 | Paris / France |
| Germany | DEUTSCHE BANK AG | D-65760 | Frankfurt / Germany |
| Ghana | STANDARD CHARTERED BANK GHANA LIMITED FOR STANDARD CHARTERED BANK | 00233 | Accra / Ghana |
| Greece | HSBC BANK PLC - ATHENS BRANCH FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) | 11526 | Athens / Greece |
| Hong Kong | The Hongkong and Shanghai Banking Corporation Limited (HSBC) | Not Applicable | Central / Hong Kong |
| Hungary | UNICREDIT BANK HUNGARY ZRT FOR UNICREDIT BANK HUNGARY ZRT AND UNICREDIT BANK AUSTRIA AG | HU-1054 | Budapest / Hungary |
| Iceland | LANDSBANKINN HF. | 155 | Reykjavik / Iceland |
| India | Citibank, N.A., - Mumbai Branch | 400 051 | Mumbai / India |
|
| The Hongkong and Shanghai Banking Corporation Limited (HSBC) - India Branch | 400 0057 | Mumbai / India |
| Indonesia | Citibank, N.A.- Jakarta Branch | 12190 | Jakarta / Indonesia |
| Ireland | Citibank N.A.- London Branch | E14 5LB | London / UK |
| Israel | Bank Hapoalim BM | 66883 | Tel Aviv / Israel |
| Italy | BNP Paribas Securities Services - Milan Branch | 20124 | Milan / Italy |
| Ivory Coast | STANDARD CHARTERED BANK COTE DIVOIRE FOR STANDARD CHARTERED BANK | 1141 | Abidjan / Ivory Coast |
| Japan | Bank of Tokyo-Mitsubishi UFJ Ltd | 103-0021 | Tokyo / Japan |
| Jordan | Standard Chartered Bank, Jordan Branch | 11190 | Amman / Jordan |
| Kazakhstan | JSC Citibank Kazakhstan | A25T0A1 | Almaty / Kazakhstan |
| Kenya | STANDARD CHARTERED BANK KENYA LIMITED FOR STANDARD CHARTERED BANK | 00100 | Nairobi / Kenya |
| Kuwait | HSBC BANK MIDDLE EAST LIMITED - KUWAIT BRANCH FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD. (HSBC) | 13017 | Kuwait City, Kuwait |
| Latvia | SWEDBANK AS FOR NORDEA BANK AB (PUBL) | FI-00020 NORDEA | Helsinki / Finland |
| Lituania | SWEDBANK AB FOR NORDEA BANK AB (PUBL) | FI-00020 NORDEA | Helsinki / Finland |
| Luxembourg | KBL European Private Bankers S.A. | L-2955 | Luxembourg |
| Malaysia | Standard Chartered Bank Malaysia Berhad for Standard Chartered Bank | 50250 | Kuala Lumpur / Malaysia |
| Mauritius | The Hongkong and Shanghai Banking Corporation Limited (HSBC) - Mauritius Branch | Not Applicable | Port Louis / Mauritius |
| Mexico | Banco Nacional de Mexico, S.A. (Banamex) for Citibank N.A. | 1210 | Mexico City / Mexico |
| Morocco | Citibank Maghreb for Citibank N.A. | 20190 | Casablanca / Morocco |
| Namibia | Standard Bank Namibia Ltd for Standard Bank of South Africa Limited | Not Applicable | Windhoek / Namibia |
| Netherlands | BNP Paribas Securities Services | 93500 | Amsterdam / Netherlands |
| New Zealand | The Hongkong and Shanghai Banking Corporation Limited (HSBC) - New Zealand Branch | 1010 | Auckland / New Zealand |
| Nigeria | Stanbic IBTC Bank Plc for Standard Bank of South Africa Limited | 101007 | Lagos / Nigeria |
| Norway | NORDEA BANK AB (PUBL), FILIAL I NORGE | NO-0107 | Oslo / Norway |
| Oman | HSBC BANK OMAN SAOG FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) | PC 112 | Ruwi / Oman |
| Pakistan | STANDARD CHARTERED BANK (PAKISTAN) LIMITED FOR STANDARD CHARTERED BANK | 74000 | Karachi / Pakistan |
| Peru | Citibank del Peru S.A. for Citibank N.A. | 27 | Lima / Peru |
| Philippines | Hongkong & Shanghai Banking Corporation (HSBC) - Philippine Branch | 1634 | Manila / Philippines |
| Poland | Bank Handlowy w Warszawie SA (BHW) for Citibank N.A. | 00-923 | Warsaw / Poland |
| Portugal | BNP Paribas Securities Services | 93500 | Paris / France |
| Qatar | HSBC BANK MIDDLE EAST LTD - QATAR BRANCH FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED | JE4 8UB | Doha / Qatar |
| Romania | CITIBANK EUROPE PLC, DUBLIN - SUCURSALA ROMANIA FOR CITIBANK, N.A. | 11745 | Bucharest / Romania |
| Russia | AO Citibank for Citibank N.A. | 125047 | Moscow / Russia |
| Saudi Arabia | HSBC SAUDI ARABIA FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) | 11413 | Riyadh / Saudi Arabia |
| Serbia | UNICREDIT BANK SERBIA JSC FOR UNICREDIT BANK AUSTRIA AG | 1090 | Belgrade / Serbia |
| Singapore | Standard Chartered Bank, Singapore Branch | 18981 | Singapore |
| Slovakia | CITIBANK EUROPE PLC, POBOČKA ZAHRANIČNEJ BANKY FOR CITIBANK, N.A. | 811 02 | Bratislava / Slovakia |
| Slovenia | UNICREDIT BANKA SLOVENIJA DD FOR UNICREDIT BANKA SLOVENIJA DD & UNICREDIT BANK AUSTRIA AG | 1090 | Vienna / Austria |
| South Africa | SOCIÉTÉ GÉNÉRALE JOHANNESBURG BRANCH | 2001 | Johannesburg / South Africa |
| South Korea | Citibank Korea Inc. for Citibank N.A. | 100-180 | Seoul / South Korea |
| Spain | Société Générale Sucursal en España S.A. | 28016 | Madrid / Spain |
| Sri Lanka | The Hongkong and Shanghai Banking Corporation Limited (HSBC) - Sri Lanka Branch | Not Applicable | Colombo / Sri Lanka |
| Swaziland | STANDARD BANK SWAZILAND LTD. FOR STANDARD BANK OF SOUTH AFRICA LIMITED | Not Applicable | Mbabane / Swaziland |
| Sweden | Skandinaviska Enskilda Banken AB (publ) | SE-106 40 | Stockholm / Sweden |
| Switzerland | UBS Switzerland AG | CH-8098 | Zurich / Switzerland |
| Taiwan | Standard Chartered Bank (Taiwan) Ltd. For Standard Chartered Bank | 105 | Taipei / Taiwan |
| Tanzania | STANDARD CHARTERED BANK TANZANIA LIMITED AND STANDARD CHARTERED BANK (MAURITIUS) LIMITED FOR STANDARD CHARTERED BANK | Not Applicable | Port Louis / Mauritius |
| Thailand | The Hongkong and Shanghai Banking Corporation Limited (HSBC) - Thailand Branch | 10500 | Bangkok / Thailand |
| Transnational | Brown Brothers Harriman & Co. (BBH & Co.) | 10005-1101 | Boston, MA / New York, NY |
| Trinidad & Tobago | REPUBLIC BANK LIMITED | Not Applicable | Port of Spain / Trinidad & Tobago |
| Tunisia | Union Internationale de Banques (UIB) | 1002 | Tunis / Tunisia |
| Turkey | Citibank Anonim Sirketi for Citibank N.A. | 34394 | Istanbul / Turkey |
| Uganda | STANDARD CHARTERED BANK UGANDA LIMITED FOR STANDARD CHARTERED BANK | 256 | Kampala / Uganda |
| Ukraine | PUBLIC JOINT STOCK COMPANY "CITIBANK" (PJSC "CITIBANK") FOR CITIBANK, N.A. | 4070 | Kiev / Ukraine |
| United Arab Emirates | HSBC BANK MIDDLE EAST LIMITED FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) | 337-1500 | Dubai / UAE |
| United Kingdom | HSBC Bank Plc | E14 5HQ | London / UK |
| Uruguay | BANCO ITAÚ URUGUAY S.A. FOR BANCO ITAÚ URUGUAY S.A. AND ITAÚ UNIBANCO S.A. | 11000 | Montevideo / Uruguay |
| Venezuela | Citibank, N.A. - Caracas Branch | 1050 | Caracas / Venezuela |
| Vietnam | HSBC BANK (VIETNAM) LTD. FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) | Not Applicable | Hanoi, Vietnam |
| Zambia | STANDARD CHARTERED BANK ZAMBIA PLC FOR STANDARD CHARTERED BANK | 10101 | Lusaka / Zambia |
| Zimbabwe | STANDARD CHARTERED BANK ZIMBABWE LIMITED FOR STANDARD CHARTERED BANK | Not Applicable | Harare / Zimbabwe |