2019 Estimated Distributions

What are distributions?

Why are some distributions larger than others?

Why do funds pay distributions?

When can I expect tax information?

Mutual Funds

As of October 31, 20192

Fund Name Ordinary Income Per Share3 Ordinary Income Pay Date Short-Term Capital Gain Per Share Long-Term Capital Gains Per Share Capital Gain Pay Date4
AC Alternatives® Disciplined Long Short Fund 0.0542 12/20/2019 0.0000 0.0000 12/20/2019
AC Alternatives® Equity Market Neutral Fund 0.0309 12/20/2019 0.0000 0.0000 12/20/2019
AC Alternatives® Income Fund 0.1015 12/20/2019 0.0000 0.0000 12/20/2019
AC Alternatives® Market Neutral Value Fund 0.0944 12/20/2019 0.0000 0.0000 12/20/2019
Adaptive Equity Fund 0.1625 11/26/2019 0.0000 0.0000 11/26/2019
Adaptive Small Cap Fund 0.0000 11/26/2019 0.0000 0.0000 11/26/2019
All Cap Growth Fund 0.0745 12/17/2019 0.0000 2.1769 12/17/2019
Balanced Fund 0.0790 12/20/2019 0.0203 0.6596 12/20/2019
California High-Yield Municipal Fund daily daily 0.0000 0.0000 12/17/2019
California Intermediate-Term Tax-Free Bond Fund daily daily 0.0013 0.0185 12/17/2019
Core Equity Plus Fund 0.0000 11/26/2019 0.0000 0.0000 11/26/2019
Core Plus Fund daily daily 0.0000 0.0000 12/17/2019
Disciplined Growth Fund 0.0000 12/20/2019 0.2114 1.6518 12/20/2019
Diversified Bond Fund daily daily 0.0000 0.0000 12/17/2019
Emerging Markets Debt Fund daily daily 0.0000 0.0000 12/17/2019
Emerging Markets Fund 0.2280 12/17/2019 0.0000 0.0000 12/17/2019
Emerging Markets Small Cap Fund 0.0500 12/17/2019 0.0000 0.0000 12/17/2019
Equity Growth Fund 0.0982 12/20/2019 0.0000 2.5942 12/20/2019
Equity Income Fund 0.0679 12/20/2019 0.1492 0.3451 12/20/2019
Focused Dynamic Growth Fund 0.0000 12/17/2019 0.0000 0.0000 12/17/2019
Focused International Growth Fund 0.0198 12/17/2019 0.0000 0.2855 12/17/2019
Ginnie Mae Fund daily daily 0.0000 0.0000 12/17/2019
Global Bond Fund 0.3295 12/20/2019 0.0000 0.0000 12/20/2019
Global Gold Fund 0.0795 12/20/2019 0.0000 0.0000 12/20/2019
Global Growth Fund9 0.0158 12/17/2019 0.0000 2.0599 12/17/2019
Global Real Estate Fund 0.2134 12/17/2019 0.0000 0.2805 12/17/2019
Global Small Cap Fund 0.0000 12/17/2019 0.0000 0.7551 12/17/2019
Government Bond Fund daily daily 0.0000 0.0000 12/17/2019
Growth Fund 0.1523 12/17/2019 0.0000 1.9962 12/17/2019
Heritage Fund 0.0000 12/17/2019 0.0000 2.4596 12/17/2019
High Income Fund daily daily 0.0000 0.0000 12/17/2019
High-Yield Fund daily daily 0.0000 0.0000 12/17/2019
High-Yield Municipal Fund daily daily 0.0113 0.0045 12/17/2019
Income & Growth Fund 0.2160 12/20/2019 0.0000 0.7428 12/20/2019
Inflation-Adjusted Bond Fund 0.3158 12/20/2019 0.0000 0.0000 12/20/2019
Intermediate-Term Tax-Free Bond Fund daily daily 0.0000 0.0000 12/17/2019
International Bond Fund 0.0000 12/20/2019 0.0000 0.0000 12/20/2019
International Core Equity Fund 0.2126 12/17/2019 0.0000 0.0000 12/17/2019
International Growth Fund 0.0311 12/17/2019 0.0000 0.0000 12/17/2019
International Opportunities Fund 0.0283 12/17/2019 0.0000 0.0000 12/17/2019
International Value Fund 0.2475 12/17/2019 0.0000 0.0000 12/17/2019
Large Company Value Fund 0.0558 12/20/2019 0.0000 0.1013 12/20/2019
Mid Cap Value Fund 0.0653 12/20/2019 0.0000 0.0000 12/20/2019
Multi-Asset Income Fund 0.0450 12/30/2019 0.0000 0.0000 12/30/2019
Multi-Asset Real Return Fund 0.0209 12/20/2019 0.0000 0.0000 12/20/2019
One Choice® 2020 Portfolio 0.2091 12/30/2019 0.0095 0.6851 12/30/2019
One Choice® 2025 Portfolio 0.2409 12/30/2019 0.0178 0.8278 12/30/2019
One Choice® 2030 Portfolio 0.2182 12/30/2019 0.0073 0.7224 12/30/2019
One Choice® 2035 Portfolio 0.2539 12/30/2019 0.0103 1.0042 12/30/2019
One Choice® 2040 Portfolio 0.2156 12/30/2019 0.0125 0.8708 12/30/2019
One Choice® 2045 Portfolio 0.2421 12/30/2019 0.0196 1.2229 12/30/2019
One Choice® 2050 Portfolio 0.2050 12/30/2019 0.0109 0.9623 12/30/2019
One Choice® 2055 Portfolio 0.2174 12/30/2019 0.0092 0.9131 12/30/2019
One Choice® 2060 Portfolio 0.1962 12/30/2019 0.0000 0.5979 12/30/2019
One Choice® In Retirement Portfolio 0.1759 12/30/2019 0.0079 0.6886 12/30/2019
One Choice® Portfolio: Aggressive 0.3271 12/30/2019 0.0000 1.9184 12/30/2019
One Choice® Portfolio: Conservative 0.1777 12/30/2019 0.0026 0.4219 12/30/2019
One Choice® Portfolio: Moderate 0.1939 12/30/2019 0.0066 0.7479 12/30/2019
One Choice® Portfolio: Very Aggressive 0.2367 12/30/2019 0.0190 1.3732 12/30/2019
One Choice® Portfolio: Very Conservative 0.1628 12/30/2019 0.0031 0.2181 12/30/2019
Real Estate Fund 0.2020 12/20/2019 0.1026 2.0529 12/20/2019
Select Fund 0.0141 12/17/2019 0.0000 4.3243 12/17/2019
Short Duration Fund daily daily 0.0000 0.0000 12/17/2019
Short Duration Inflation Protection Bond Fund 0.2142 12/20/2019 0.0000 0.0000 12/20/2019
Short Duration Strategic Income Fund daily daily 0.0000 0.0000 12/17/2019
Short-Term Government Fund daily daily 0.0000 0.0000 12/17/2019
Small Cap Growth Fund 0.0000 12/17/2019 0.0000 1.2652 12/17/2019
Small Cap Value Fund 0.0410 12/20/2019 0.0000 0.1389 12/20/2019
Small Company Fund 0.0154 12/20/2019 0.0000 0.0000 12/20/2019
Strategic Allocation: Aggressive Fund 0.1251 12/17/2019 0.1028 0.9203 12/17/2019
Strategic Allocation: Conservative Fund 0.0261 12/20/2019 0.0525 0.3560 12/20/2019
Strategic Allocation: Moderate Fund 0.0324 12/20/2019 0.0733 0.7310 12/20/2019
Strategic Income Fund daily daily 0.0000 0.0000 12/17/2019
Sustainable Equity Fund 0.1277 12/17/2019 0.0000 0.5198 12/17/2019
Ultra® Fund 0.0000 12/17/2019 0.0000 2.6725 12/17/2019
Utilities Fund 0.1469 12/20/2019 0.0000 0.0000 12/20/2019
Value Fund 0.0227 12/20/2019 0.0000 0.0000 12/20/2019
Zero Coupon 2020 Fund 3.8814 12/06/2019 0.0000 0.3452 12/06/2019
Zero Coupon 2025 Fund 3.3317 12/06/2019 0.1465 0.2917 12/06/2019


Note: Money market funds declare dividends daily and distribute income monthly. These funds are expected to make only regular monthly income distributions on December 31, 2019, and are not listed above.

Regulations regarding distributions can be complex, and there are several methods for managing your tax liability. Please consult a tax advisor about your particular circumstances. You also may obtain helpful information by calling the Internal Revenue Service at 1-800-829-1040 or visiting https://www.irs.gov .

Variable Portfolios 2019 Estimated Distributions

As of 10/31/20192

Fund Name Ordinary Income Per Share3 Ordinary Income Pay Date Short-Term Capital Gain Per Share Long-Term Capital Gains Per Share Capital Gain Pay Date4
VP Balanced Fund 0.0267 12/30/2019 0.0000 0.0000 N/A
VP Income & Growth Fund 0.0515 12/30/2019 0.0000 0.0000 N/A
VP Inflation Protection Fund 0.0578 12/30/2019 0.0000 0.0000 N/A
VP Large Company Value Fund 0.0971 12/30/2019 0.0000 0.0000 N/A
VP Mid Cap Value Fund 0.1169 12/30/2019 0.0000 0.0000 N/A
VP Value Fund 0.0526 12/30/2019 0.0000 0.0000 N/A

American Century Investments Variable Portfolio Funds (VP Funds) are a series of investment choices available exclusively through variable annuity and variable universal life products. There are no plans to distribute VP Funds in any other way. Performance will vary based on the fees and expenses assessed with investments in variable insurance products. Those charges are disclosed in the separate account prospectus.

Exchange Traded Funds 2019 Estimated Distributions

As of 10/31/20192

Fund Name Ordinary Income Per Share3 Ordinary Income Pay Date Short-Term Capital Gain Per Share Long-Term Capital Gains Per Share Capital Gain Pay Date
American Century® Diversified Corporate Bond ETF5 0.1450 12/30/2019 0.0000 0.0217 12/30/2019
American Century® Diversified Municipal Bond ETF5 0.1001 12/30/2019 0.0000 0.0000 12/30/2019
American Century® Quality Diversified International ETF6 0.1559 12/30/2019 0.0000 0.0000 12/30/2019
American Century® STOXX® U.S. Quality Growth ETF6,7,8 0.0532 12/30/2019 0.0000 0.0000 12/30/2019
American Century® STOXX® U.S. Quality Value ETF6,7, 8 0.2086 12/30/2019 0.0000 0.0000 12/30/2019

ETF shares may be bought or sold throughout the day at their market price, not their Net Asset Value (NAV), on the exchange on which they are listed. Shares of ETFs are tradable on secondary markets and may trade either at a premium or a discount to their NAV on the secondary market.

ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETF's net asset value. Brokerage commissions and ETF expenses will reduce returns.

Exchange Traded Funds (ETFs): Foreside Fund Services, LLC - Distributor, not affiliated with American Century Investments Services, Inc.

1 Dividend income estimates for income funds that declare distributions daily are not generally listed, although they may pay distributions. In addition, some stock funds in the chart may show no estimated distributions at this time. However, please keep in mind that this may change.

2 The estimates provided are as of October 31, 2019. Keep in mind that market conditions, portfolio changes and/or changes in outstanding fund shares could affect these estimates substantially. In addition, there is a possibility that funds not listed above could be eligible to pay a capital gains distribution. This information is not final and is subject to change until the ex-dividend date.

3 The estimates in this chart do not reflect calculations for Qualified Dividends. However, those calculations, if applicable, will appear on Form 1099-DIV sent in late January 2020.

4 Per-share distributions are paid to investors who are shareholders of record with American Century Investments the business day before the payable date.

5

This fund is an actively managed Exchange Traded Fund (ETF) that does not seek to replicate the performance of a specified index. To determine whether to buy or sell a security, the portfolio managers consider, among other things, various fund requirements and standards, along with economic conditions, alternative investments, interest rates and various credit metrics. If the portfolio manager considerations are inaccurate or misapplied, the fund's performance may suffer.

6

This fund is not actively managed and the portfolio managers do not attempt to take defensive positions under any market conditions, including declining markets. The portfolio managers also do not generally add or remove a security from the fund until such security is similarly added or removed from the underlying index. Therefore, the fund may hold an underperforming security or not hold an outperforming security until the underlying index reacts. This may result in underperformance compared to the market generally. In addition, there is no assurance that the underlying index will be determined, composed or calculated accurately. While the index provider provides descriptions of what the underlying index is designed to achieve, the index provider does not guarantee the quality, accuracy or completeness of data in respect of its indices, and does not guarantee that the underlying index will be in line with the described index methodology. Gains, losses or costs to the fund caused by errors in the underlying index may therefore be borne by the fund and its shareholders.

7

STOXX® is a registered trademark of STOXX Ltd.

8

The STOXX® Index is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland ("STOXX"), Deutsche Börse Group or their licensors, which is used under license. The fund is neither sponsored nor promoted, distributed or in any other manner supported by STOXX, Deutsche Börse Group or their licensors, research partners or data providers and STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not give any warranty, and exclude any liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation to any errors, omissions or interruptions in the STOXX® Index or its data.

9

On November 22, 2019, the Global Growth Fund's name will change to Focused Global Growth Fund.