Monthly Performance

Fee Structure:

Age-Based Portfolios As of May 29, 2020	YTD Returns at NAV (%)¹	Average Annual Total Returns at NAV (%)¹				Inception Date	Max Sales Charge	Expense Ratio (%)²
Age-Based Portfolios As of May 29, 2020	YTD Returns at NAV (%)¹	1 Yr	3 Yrs	5 Yrs	Lifetime	Inception Date	Max Sales Charge	Expense Ratio (%)²
Age-Based Aggressive
Ages 0-2	-14.27	-1.95	2.39	n/a	4.97	9/28/16	3.50%	1.12
Ages 3-5	-12.61	-1.02	2.67	n/a	4.97	9/28/16	3.50%	1.11
Ages 6-8	-11.35	-0.74	2.61	n/a	4.72	9/28/16	3.50%	1.12
Ages 9-10	-10.22	-0.69	2.35	n/a	4.13	9/28/16	3.50%	1.14
Ages 11-12	-8.75	-0.04	2.46	n/a	4.02	9/28/16	3.50%	1.12
Ages 13-14	-7.14	0.79	2.74	n/a	4.03	9/28/16	3.50%	1.13
Ages 15-16	-6.10	0.64	2.43	n/a	3.43	9/28/16	3.50%	1.11
Ages 17-18	-4.99	0.61	2.12	n/a	2.90	9/28/16	3.50%	1.12
Ages 19+	-3.97	0.39	1.88	n/a	2.38	9/28/16	3.50%	1.05
Age-Based Moderate
Ages 0-2	-12.61	-1.02	2.67	n/a	4.97	9/28/16	3.50%	1.11
Ages 3-5	-11.35	-0.74	2.61	n/a	4.72	9/28/16	3.50%	1.12
Ages 6-8	-10.22	-0.69	2.35	n/a	4.13	9/28/16	3.50%	1.14
Ages 9-10	-8.75	-0.04	2.46	n/a	4.02	9/28/16	3.50%	1.12
Ages 11-12	-7.14	0.79	2.74	n/a	4.03	9/28/16	3.50%	1.13
Ages 13-14	-6.10	0.64	2.43	n/a	3.43	9/28/16	3.50%	1.11
Ages 15-16	-4.99	0.61	2.12	n/a	2.90	9/28/16	3.50%	1.12
Ages 17-18	-3.97	0.39	1.88	n/a	2.38	9/28/16	3.50%	1.05
Ages 19+	-3.06	0.14	1.40	n/a	1.67	9/28/16	3.50%	1.02
Age-Based Conservative
Ages 0-2	-11.35	-0.74	2.61	n/a	4.72	9/28/16	3.50%	1.12
Ages 3-5	-10.22	-0.69	2.35	n/a	4.13	9/28/16	3.50%	1.14
Ages 6-8	-8.75	-0.04	2.46	n/a	4.02	9/28/16	3.50%	1.12
Ages 9-10	-7.14	0.79	2.74	n/a	4.03	9/28/16	3.50%	1.13
Ages 11-12	-6.10	0.64	2.43	n/a	3.43	9/28/16	3.50%	1.11
Ages 13-14	-4.99	0.61	2.12	n/a	2.90	9/28/16	3.50%	1.12
Ages 15-16	-3.97	0.39	1.88	n/a	2.38	9/28/16	3.50%	1.05
Ages 17-18	-3.06	0.14	1.40	n/a	1.67	9/28/16	3.50%	1.02
Ages 19+	-2.71	-1.17	0.39	n/a	0.37	9/28/16	3.50%	0.91
Target Portfolios As of May 29, 2020	YTD Returns at NAV (%)¹	Average Annual Total Returns at NAV (%)¹				Inception Date	Max Sales Charge	Expense Ratio (%)²
Target Portfolios As of May 29, 2020	YTD Returns at NAV (%)¹	1 Yr	3 Yrs	5 Yrs	Lifetime	Inception Date	Max Sales Charge	Expense Ratio (%)²
Target Fund 100	-14.27	-1.95	2.39	3.54	7.70	8/2/10	3.50%	1.12
Target Fund 80	-11.35	-0.74	2.61	3.45	6.79	8/2/10	3.50%	1.12
Target Fund 60	-8.75	-0.04	2.46	3.04	5.72	8/2/10	3.50%	1.12
Target Fund 40	-6.10	0.64	2.43	2.79	4.70	8/2/10	3.50%	1.11
Target Fund 20	-3.97	0.39	1.88	2.07	3.26	8/2/10	3.50%	1.05
Target Fixed Income Fund	-2.71	-1.17	0.39	0.37	0.64	8/2/10	3.50%	0.91
Individual Portfolios As of May 29, 2020	YTD Returns at NAV (%)¹	Average Annual Total Returns at NAV (%)¹				Inception Date	Max Sales Charge	Expense Ratio (%)²
Individual Portfolios As of May 29, 2020	YTD Returns at NAV (%)¹	1 Yr	3 Yrs	5 Yrs	Lifetime	Inception Date	Max Sales Charge	Expense Ratio (%)²
Money Market 529 Portfolio
State Street U.S. Government Money Market 529 Portfolio*	0.28	1.26	1.30	n/a	1.05	7/27/16	3.50%	0.42
Fixed Income 529 Portfolios
PIMCO Short-Term 529 Portfolio	0.09	1.00	1.39	1.33	1.08	8/2/10	3.50%	1.15
Northern Funds Bond Index 529 Portfolio	1.48	5.42	3.04	2.40	2.52	8/2/10	3.50%	0.80
Fidelity Advisor Investment Grade Bond 529 Portfolio	1.97	6.26	3.52	2.86	2.27	10/10/12	3.50%	1.15
PGIM Total Return Bond 529 Portfolio	n/a	n/a	n/a	n/a	-1.38	4/28/20	3.50%	1.14
American Century Short-Duration Inflation-Protection Bond Fund 529 Portfolio	-3.13	-1.22	0.16	0.36	0.04	9/26/13	3.50%	1.02
Touchstone High Yield 529 Portfolio	-10.13	-5.32	0.26	1.14	2.45	10/10/12	3.50%	1.37
Templeton International Bond 529 Portfolio	-8.43	-9.13	-2.01	-0.61	-0.68	10/10/12	3.50%	1.48
Balanced 529 Portfolio
T. Rowe Price Balanced 529 Portfolio	-7.39	2.69	4.26	4.50	7.31	8/2/10	3.50%	1.11
Real Estate 529 Portfolios
DFA Real Estate Securities 529 Portfolio	-17.93	-10.01	n/a	n/a	-9.31	4/9/19	3.50%	0.83
Principal Global Real Estate Securities 529 Portfolio	-22.55	-16.21	n/a	n/a	-14.23	11/25/14	3.50%	1.53
Domestic Equity 529 Portfolios
DFA U.S. Large Cap Value 529 Portfolio	-22.64	-10.16	n/a	n/a	-6.97	2/6/18	3.50%	0.91
Northern Funds Stock Index 529 Portfolio	-8.57	6.91	8.13	8.26	11.73	8/2/10	3.50%	0.75
T. Rowe Price Large-Cap Growth 529 Portfolio	2.36	16.45	15.96	14.04	15.99	8/2/10	3.50%	1.21
Northern Funds Mid Cap Index 529 Portfolio	-17.12	-6.10	0.49	3.08	9.16	8/2/10	3.50%	0.80
William Blair Small Cap Value 529 Portfolio	-27.70	-21.86	-7.17	-1.62	4.94	8/2/10	3.50%	1.90
Northern Funds Small Cap Index 529 Portfolio	-19.22	-9.18	-0.08	2.16	8.16	8/2/10	3.50%	0.80
T. Rowe Price QM U.S. Small-Cap Growth Equity 529 Portfolio	-9.23	4.70	7.44	n/a	9.45	9/28/16	3.50%	1.31
International Equity 529 Portfolios
Northern Funds International Equity Index 529 Portfolio	-17.32	-7.19	-2.21	-0.62	2.97	8/2/10	3.50%	0.90
Neuberger Berman International Select 529 Portfolio	-12.90	1.16	0.57	1.29	3.97	8/2/10	3.50%	1.44
DFA International Small Company 529 Portfolio	-20.53	-8.03	-4.03	0.28	4.60	10/10/12	3.50%	1.17
Vanguard Emerging Markets Select Stock 529 Portfolio	-22.43	-11.02	n/a	n/a	-16.83	4/9/19	3.50%	1.17
Commodities
Credit Suisse Commodity Return Strategy 529 Portfolio	-22.94	-21.21	-8.55	-8.75	-10.72	10/10/12	3.50%	1.43