Quarterly Performance

Fee Structure:

Age-Based Portfolios As of June 29, 2018	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 June 29, 2018	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	-2.87	7.52	n/a	n/a	11.19	9/28/16	3.50%	1.21
Ages 3-5	-2.79	6.58	n/a	n/a	10.13	9/28/16	3.50%	1.20
Ages 6-8	-2.95	5.47	n/a	n/a	8.99	9/28/16	3.50%	1.21
Ages 9-10	-3.25	4.05	n/a	n/a	7.28	9/28/16	3.50%	1.21
Ages 11-12	-3.33	3.02	n/a	n/a	6.23	9/28/16	3.50%	1.20
Ages 13-14	-3.42	2.09	n/a	n/a	5.18	9/28/16	3.50%	1.18
Ages 15-16	-3.50	0.98	n/a	n/a	3.75	9/28/16	3.50%	1.17
Ages 17-18	-3.59	-0.08	n/a	n/a	2.50	9/28/16	3.50%	1.14
Ages 19+	-3.50	-0.98	n/a	n/a	1.32	9/28/16	3.50%	1.09
Age-Based Moderate
Ages 0-2	-2.79	6.58	n/a	n/a	10.13	9/28/16	3.50%	1.20
Ages 3-5	-2.95	5.47	n/a	n/a	8.99	9/28/16	3.50%	1.21
Ages 6-8	-3.25	4.05	n/a	n/a	7.28	9/28/16	3.50%	1.21
Ages 9-10	-3.33	3.02	n/a	n/a	6.23	9/28/16	3.50%	1.20
Ages 11-12	-3.42	2.09	n/a	n/a	5.18	9/28/16	3.50%	1.18
Ages 13-14	-3.50	0.98	n/a	n/a	3.75	9/28/16	3.50%	1.17
Ages 15-16	-3.59	-0.08	n/a	n/a	2.50	9/28/16	3.50%	1.14
Ages 17-18	-3.50	-0.98	n/a	n/a	1.32	9/28/16	3.50%	1.09
Ages 19+	-3.50	-1.99	n/a	n/a	-0.02	9/28/16	3.50%	1.03
Age-Based Conservative
Ages 0-2	-2.95	5.47	n/a	n/a	8.99	9/28/16	3.50%	1.21
Ages 3-5	-3.25	4.05	n/a	n/a	7.28	9/28/16	3.50%	1.21
Ages 6-8	-3.33	3.02	n/a	n/a	6.23	9/28/16	3.50%	1.20
Ages 9-10	-3.42	2.09	n/a	n/a	5.18	9/28/16	3.50%	1.18
Ages 11-12	-3.50	0.98	n/a	n/a	3.75	9/28/16	3.50%	1.17
Ages 13-14	-3.59	-0.08	n/a	n/a	2.50	9/28/16	3.50%	1.14
Ages 15-16	-3.50	-0.98	n/a	n/a	1.32	9/28/16	3.50%	1.09
Ages 17-18	-3.50	-1.99	n/a	n/a	-0.02	9/28/16	3.50%	1.03
Ages 19+	-3.41	-3.04	n/a	n/a	-1.64	9/28/16	3.50%	0.93
Target Portfolios As of June 29, 2018	YTD Returns at NAV (%)¹	Average Annual Total Returns at NAV (%)¹				Inception Date	Max Sales Charge	Expense Ratio (%)²
Target Portfolios As of June 29, 2018	YTD Returns at NAV (%)¹	1 Yr	3 Yrs	5 Yrs	Lifetime	Inception Date	Max Sales Charge	Expense Ratio (%)²
Target Fund 100	-2.87	7.52	6.90	8.91	9.77	8/2/10	3.50%	1.21
Target Fund 80	-2.95	5.47	5.77	7.35	8.26	8/2/10	3.50%	1.21
Target Fund 60	-3.33	3.02	4.29	5.66	6.63	8/2/10	3.50%	1.20
Target Fund 40	-3.50	0.98	3.04	4.12	5.08	8/2/10	3.50%	1.17
Target Fund 20	-3.50	-0.98	1.59	2.37	3.24	8/2/10	3.50%	1.09
Target Fixed Income Fund	-3.41	-3.04	-0.74	-0.39	0.25	8/2/10	3.50%	0.93
Individual Portfolios As of June 29, 2018	YTD Returns at NAV (%)¹	Average Annual Total Returns at NAV (%)¹				Inception Date	Max Sales Charge	Expense Ratio (%)²
Individual Portfolios As of June 29, 2018	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*	0.58	0.93	n/a	n/a	0.60	7/27/16	3.50%	0.44
Fixed Income 529 Portfolios
PIMCO Short-Term 529 Portfolio	0.74	1.50	1.42	1.18	1.05	8/2/10	3.50%	1.14
Northern Funds Bond Index 529 Portfolio	-5.47	-4.74	-0.34	0.75	1.35	8/2/10	3.50%	0.83
Fidelity Advisor Investment Grade Bond 529 Portfolio	-5.38	-4.49	0.10	1.05	0.38	10/10/12	3.50%	1.17
MainStay Total Return Bond 529 Portfolio	-5.77	-4.78	0.16	n/a	0.08	12/17/14	3.50%	1.27
American Century Short-Duration Inflation-Protection Bond Fund 529 Portfolio	-3.02	-2.82	-0.61	n/a	-0.75	9/26/13	3.50%	1.04
BlackRock Inflation Protected Bond 529 Portfolio	-3.84	-2.39	-0.33	-0.13	1.29	8/2/10	3.50%	1.12
Touchstone High Yield 529 Portfolio	-4.37	-2.45	1.38	2.61	2.70	10/10/12	3.50%	1.39
Templeton International Bond 529 Portfolio	-5.04	-5.98	-0.50	-0.85	-0.85	10/10/12	3.50%	1.43
Balanced 529 Portfolio
T. Rowe Price Balanced 529 Portfolio	-2.89	4.17	5.41	7.28	8.06	8/2/10	3.50%	1.16
Real Estate 529 Portfolios
T. Rowe Price Real Estate 529 Portfolio	-3.89	-0.41	4.93	6.69	8.65	8/2/10	3.50%	1.31
Voya Global Real Estate 529 Portfolio	-5.70	-0.57	1.54	3.15	3.89	10/10/12	3.50%	1.66
Domestic Equity 529 Portfolios
DFA U.S. Large Cap Value 529 Portfolio	n/a	n/a	n/a	n/a	-5.72	2/6/18	3.50%	0.92
Northern Funds Stock Index 529 Portfolio	-1.33	9.69	9.75	11.77	12.79	8/2/10	3.50%	0.77
American Century Equity Growth 529 Portfolio	-0.45	11.27	8.04	10.55	12.41	8/2/10	3.50%	1.14
T. Rowe Price Large-Cap Growth 529 Portfolio	7.78	23.73	15.90	17.76	16.81	8/2/10	3.50%	1.23
Northern Funds Mid Cap Index 529 Portfolio	-0.52	8.78	8.68	10.96	12.69	8/2/10	3.50%	0.82
William Blair Small Cap Value 529 Portfolio	-2.67	5.05	6.96	8.57	10.21	8/2/10	3.50%	1.91
Northern Funds Small Cap Index 529 Portfolio	3.43	12.47	8.83	10.80	12.40	8/2/10	3.50%	0.82
T. Rowe Price QM U.S. Small-Cap Growth Equity 529 Portfolio	3.66	14.42	n/a	n/a	16.16	9/28/16	3.50%	1.33
International Equity 529 Portfolios
Northern Funds International Equity Index 529 Portfolio	-6.30	1.84	2.89	4.88	4.86	8/2/10	3.50%	0.92
Neuberger Berman International Select 529 Portfolio	-5.33	4.22	3.75	5.50	5.24	8/2/10	3.50%	1.57
DFA International Small Company 529 Portfolio	-6.08	5.03	7.23	8.85	9.57	10/10/12	3.50%	1.21
Lazard Emerging Markets Equity 529 Portfolio	-15.14	-3.76	1.28	1.04	1.02	8/2/10	3.50%	1.77
Commodities
Credit Suisse Commodity Return Strategy 529 Portfolio	-4.16	3.64	-6.09	-7.64	-9.62	10/10/12	3.50%	1.47