INTERNATIONAL GROWTH FUND

Fund Overview

Adviser:

Mason Street Advisors, LLC

Subadviser:

FIAM LLC, a Fidelity Investments Company

Objective/Focus:

The Portfolio primarily invests in common stocks of companies with growth potential which are domiciled or trade primarily on exchanges outside the United States, including emerging markets. Normally, the Portfolio will invest in a core group of 60-100 equity securities. These companies may be of any size. The objective is long-term growth of capital.

Asset Class:

International Stocks

Style:

Growth

Overseas investments can pose more risks than domestic investments. Unit values are subject to fluctuations in foreign stock markets, currency values, interest rates, government regulations and political conditions. The Portfolio may hold fewer securities than other diversified portfolios because of its focused investment strategy. Holding fewer securities increases the risk that the value of the Portfolio could go down because of poor performance of a single investment.

Fund Facts as of 03/31/18

Fund Inception

07-31-2001

First Available for Variable Annuity

07-31-2001

First Available for Variable Life

07-31-2001

Net Assets

$695.7 Million

Top 10 Portfolio Holdings % of Net Assets

Keyence Corp.

3.2%

CSL, Ltd.

3.2%

SAP SE

2.9%

Nestle SA

2.9%

ASML Holding NV

2.7%

Roche Holding AG

2.6%

AIA Group, Ltd.

2.5%

Visa, Inc. - Class A

2.4%

Mastercard, Inc. - Class A

2.4%

British American Tobacco PLC

2.3%

Total % of Net Assets

27.1%

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Disclosed Holdings

Geographic Allocation % of Equities

Europe

45.5%

Asia

39.7%

Australia/New Zealand

7.5%

North America

5.4%

Latin America/Caribbean

1.9%

Before investing in a variable product, you should carefully consider the objectives, risks and charges associated with its investment options. For this and other information about a Contract, you should obtain the appropriate Contract and underlying fund prospectuses by contacting your Northwestern Mutual Financial Representative. Read the prospectuses carefully before you invest.

Mason Street Advisors, LLC (MSA) is the principal investment adviser for all the Portfolios in the Northwestern Mutual Series Fund (Series Fund). (Portfolios in the Series Fund are identified by the parenthetical next to the portfolio name.) MSA has engaged and oversees sub-advisers who provide day-to-day management for certain of the Series Fund Portfolios. Each sub-adviser may be replaced without the approval of shareholders. Please see the prospectus for more information. Additional fund options are advised by Russell Investments, Fidelity Investments, Neuberger Berman Investment Advisers LLC and Credit Suisse Asset Management, LLC

All securities are offered through Northwestern Mutual Investment Services LLC, (NMIS), Suite 600, 611 E. Wisconsin Avenue, Milwaukee, WI 53202, 1-866-664-7737. Member FINRA and SIPC. NMIS is a subsidiary of Northwestern Mutual.