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 Date4 Short-Term Capital Gain Per Share Long-Term Capital Gains Per Share Capital Gain Pay Date4
AC Alternatives® Disciplined Long Short Fund Paid 12/20/2019 Paid Paid 12/20/2019
AC Alternatives® Equity Market Neutral Fund Paid 12/20/2019 Paid Paid 12/20/2019
AC Alternatives® Income Fund Paid 12/20/2019 Paid Paid 12/20/2019
AC Alternatives® Market Neutral Value Fund Paid 12/20/2019 Paid Paid 12/20/2019
Adaptive Equity Fund Paid 11/26/2019 Paid Paid 11/26/2019
Adaptive Small Cap Fund Paid 11/26/2019 Paid Paid 11/26/2019
All Cap Growth Fund Paid 12/17/2019 Paid Paid 12/17/2019
Balanced Fund Paid 12/20/2019 Paid Paid 12/20/2019
California High-Yield Municipal Fund daily daily Paid Paid 12/17/2019
California Intermediate-Term Tax-Free Bond Fund daily daily Paid Paid 12/17/2019
Core Equity Plus Fund Paid 11/26/2019 Paid Paid 11/26/2019
Core Plus Fund daily daily Paid Paid 12/17/2019
Disciplined Growth Fund Paid 12/20/2019 Paid Paid 12/20/2019
Diversified Bond Fund daily daily Paid Paid 12/17/2019
Emerging Markets Debt Fund daily daily Paid Paid 12/17/2019
Emerging Markets Fund Paid 12/17/2019 Paid Paid 12/17/2019
Emerging Markets Small Cap Fund Paid 12/17/2019 Paid Paid 12/17/2019
Equity Growth Fund Paid 12/20/2019 Paid Paid 12/20/2019
Equity Income Fund Paid 12/20/2019 Paid Paid 12/20/2019
Focused Dynamic Growth Fund Paid 12/17/2019 Paid Paid 12/17/2019
Focused International Growth Fund Paid 12/17/2019 Paid Paid 12/17/2019
Ginnie Mae Fund daily daily Paid Paid 12/17/2019
Global Bond Fund Paid 12/20/2019 Paid Paid 12/20/2019
Global Gold Fund Paid 12/20/2019 Paid Paid 12/20/2019
Global Growth Fund9 Paid 12/17/2019 Paid Paid 12/17/2019
Global Real Estate Fund Paid 12/17/2019 Paid Paid 12/17/2019
Global Small Cap Fund Paid 12/17/2019 Paid Paid 12/17/2019
Government Bond Fund daily daily Paid Paid 12/17/2019
Growth Fund Paid 12/17/2019 Paid Paid 12/17/2019
Heritage Fund Paid 12/17/2019 Paid Paid 12/17/2019
High Income Fund daily daily Paid Paid 12/17/2019
High-Yield Fund daily daily Paid Paid 12/17/2019
High-Yield Municipal Fund daily daily Paid Paid 12/17/2019
Income & Growth Fund Paid 12/20/2019 Paid Paid 12/20/2019
Inflation-Adjusted Bond Fund Paid 12/20/2019 Paid Paid 12/20/2019
Intermediate-Term Tax-Free Bond Fund daily daily Paid Paid 12/17/2019
International Bond Fund Paid 12/20/2019 Paid Paid 12/20/2019
International Core Equity Fund Paid 12/17/2019 Paid Paid 12/17/2019
International Growth Fund Paid 12/17/2019 Paid Paid 12/17/2019
International Opportunities Fund Paid 12/17/2019 Paid Paid 12/17/2019
International Value Fund Paid 12/17/2019 Paid Paid 12/17/2019
Large Company Value Fund Paid 12/20/2019 Paid Paid 12/20/2019
Mid Cap Value Fund Paid 12/20/2019 Paid Paid 12/20/2019
Multi-Asset Income Fund Paid 12/30/2019 Paid Paid 12/30/2019
Multi-Asset Real Return Fund Paid 12/20/2019 Paid Paid 12/20/2019
One Choice® 2020 Portfolio Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® 2025 Portfolio Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® 2030 Portfolio Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® 2035 Portfolio Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® 2040 Portfolio Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® 2045 Portfolio Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® 2050 Portfolio Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® 2055 Portfolio Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® 2060 Portfolio Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® In Retirement Portfolio Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® Portfolio: Aggressive Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® Portfolio: Conservative Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® Portfolio: Moderate Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® Portfolio: Very Aggressive Paid 12/30/2019 Paid Paid 12/30/2019
One Choice® Portfolio: Very Conservative Paid 12/30/2019 Paid Paid 12/30/2019
Real Estate Fund Paid 12/20/2019 Paid Paid 12/20/2019
Select Fund Paid 12/17/2019 Paid Paid 12/17/2019
Short Duration Fund daily daily Paid Paid 12/17/2019
Short Duration Inflation Protection Bond Fund Paid 12/20/2019 Paid Paid 12/20/2019
Short Duration Strategic Income Fund daily daily Paid Paid 12/17/2019
Short-Term Government Fund daily daily Paid Paid 12/17/2019
Small Cap Growth Fund Paid 12/17/2019 Paid Paid 12/17/2019
Small Cap Value Fund Paid 12/20/2019 Paid Paid 12/20/2019
Small Company Fund Paid 12/20/2019 Paid Paid 12/20/2019
Strategic Allocation: Aggressive Fund Paid 12/17/2019 Paid Paid 12/17/2019
Strategic Allocation: Conservative Fund Paid 12/20/2019 Paid Paid 12/20/2019
Strategic Allocation: Moderate Fund Paid 12/20/2019 Paid Paid 12/20/2019
Strategic Income Fund daily daily Paid Paid 12/17/2019
Sustainable Equity Fund Paid 12/17/2019 Paid Paid 12/17/2019
Ultra® Fund Paid 12/17/2019 Paid Paid 12/17/2019
Utilities Fund Paid 12/20/2019 Paid Paid 12/20/2019
Value Fund Paid 12/20/2019 Paid Paid 12/20/2019
Zero Coupon 2020 Fund Paid 12/06/2019 Paid Paid 12/06/2019
Zero Coupon 2025 Fund Paid 12/06/2019 Paid Paid 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 Date4 Short-Term Capital Gain Per Share Long-Term Capital Gains Per Share Capital Gain Pay Date4
VP Balanced Fund Paid 12/30/2019 Paid Paid N/A
VP Income & Growth Fund Paid 12/30/2019 Paid Paid N/A
VP Inflation Protection Fund Paid 12/30/2019 Paid Paid N/A
VP Large Company Value Fund Paid 12/30/2019 Paid Paid N/A
VP Mid Cap Value Fund Paid 12/30/2019 Paid Paid N/A
VP Value Fund Paid 12/30/2019 Paid Paid 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 Date10 Short-Term Capital Gain Per Share Long-Term Capital Gains Per Share Capital Gain Pay Date10
American Century® Diversified Corporate Bond ETF5 Paid 12/30/2019 Paid Paid 12/30/2019
American Century® Diversified Municipal Bond ETF5 Paid 12/30/2019 Paid Paid 12/30/2019
American Century® Quality Diversified International ETF6 Paid 12/30/2019 Paid Paid 12/30/2019
American Century® STOXX® U.S. Quality Growth ETF6,7,8 Paid 12/30/2019 Paid Paid 12/30/2019
American Century® STOXX® U.S. Quality Value ETF6,7, 8 Paid 12/30/2019 Paid Paid 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.

10

Per-share distributions are determined on ex-date 12/23/2019 for shareholders of record the business day after the ex-date.