Vanguard Variable Annuity - Equity Index Portfolio

Quarter-End Holdings as of 05/31/2016

1Apple Inc.3.0%
2Alphabet Inc.2.4%
3Microsoft Corp.2.3%
4Exxon Mobil Corp.2.0%
5Johnson & Johnson1.7%
6General Electric Co.1.5% Inc.1.5%
8Facebook Inc.1.5%
9Berkshire Hathaway Inc.1.4%
10AT&T Inc.1.3%
Ten largest holdings = 18.6% of total net assets

Portfolio holdings may exclude any temporary cash investments and equity index products.

Vanguard portfolio holdings disclaimer