PLEASE NOTE: PIMCO Variable Insurance Trust and PIMCO Equity Series Variable Insurance Trust portfolios are currently only sold to insurance companies that fund variable annuity contracts or products. Investors do not deal directly with the portfolios through its distributor to transact in portfolio shares.

Investors should consider the investment objectives, risks, charges, and expenses of this Portfolio and the variable product carefully before investing. This and other important information are contained in the PIMCO Variable Insurance Trust (the "Portfolio") prospectus and the variable product prospectus. Ask your financial professional to explain all charges that may apply. The portfolio prospectus may be obtained by contacting your PIMCO representative. The variable product prospectus may be obtained by contacting the applicable insurance company or your Investment Consultant. Please read both the PIMCO Variable Insurance Trust prospectus and the variable product prospectus carefully before you invest or send money.