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Vanguard Lifetime Income Program - International Portfolio

Quarter-End Holdings as of 09/30/2015

1Industria de Diseno Textil SA3.6%
2Tencent Holdings Ltd.3.4%
3AIA Group Ltd.3.2% Inc.2.9%
5Baidu Inc.2.6%
6Fiat Chrysler Automobiles NV2.6%
7Alibaba Group Holding Ltd.2.1%
8SoftBank Group Corp.2.0%
9Rolls-Royce Holdings plc2.0%
10ARM Holdings plc1.8%
Ten largest holdings = 26.2% of total net assets

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

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