Lazard International Equity Portfolio - R6 Shares Release Date

06-30-18..........................................................................................................................................................................................................................................................................................................................................CategoryForeign Large Blend

Investment Objective & StrategyFrom the investment's prospectus

The investment seeks long-term capital appreciation. The Portfolio invests primarily in equity securities, principally common stocks, of relatively large non-U.S. companies with market capitalizations in the range of companies included in the MSCI® Europe, Australasia and Far East ("EAFE®") Index. It invests at least 80% of its assets in equity securities. The Investment Manager looks for established companies in economically developed countries and may invest up to 15% of the Portfolio's assets in securities of companies whose principal business activities are located in emerging market countries.

Volatility and RiskVolatility as of 06-30-18

Low Moderate High

Investment

Category

Risk Measures as of 06-30-18 Port Avg Rel S&P 500 Rel Cat3 Yr Std Dev 10.71 1.05 0.933 Yr Beta 0.81 . 0.90

Principal RisksCurrency, Emerging Markets, Foreign Securities, Loss ofMoney, Not FDIC Insured, Value Investing, Issuer, Market/Market Volatility, Management, Small Cap, Mid-Cap, Large Cap

Important InformationMorningstar Investment Profiles must be accompaniedby Morningstar Disclosure and Glossary.

Funds or their affiliates may pay compensation to Voya®affiliates offering a fund. Such compensation may be paid outof distribution, service and/or 12b-1 fees that are deducted fromthe fund's assets, and/or may be paid directly by the fund'saffiliates. Any fees deducted from fund assets are discussed inthe fund's prospectus and disclosed in the fund fact sheet.Because these fees are paid on an on-going basis, over timethese fees will increase the cost of your investment and maycost you more than paying other types of sales charges. Ifoffered through a retirement program, additional fees andexpenses may be charged under that program. NOT A DEPOSIT.NOT FDIC INSURED. NOT INSURED BY ANY FEDERALGOVERNMENT AGENCY. NOT GUARANTEED BY THEINSTITUTION. MAY GO DOWN IN VALUE.

Portfolio AnalysisComposition as of 06-30-18 % Assets

U.S. Stocks 9.7Non-U.S. Stocks 85.5Bonds 0.0Cash 4.9Other 0.0

Morningstar Style Box™ as of 06-30-18 % Mkt Cap

LargeM

idSm

all

Value Blend Growth

Giant 47.86..........................................................Large 46.56Medium 5.47Small 0.12..........................................................Micro 0.00

Top 10 Holdings as of 06-30-18 % Assets

State Str Instl Invt Tr Treas Mmkt Fd 12-31-30 4.63Royal Dutch Shell PLC Class A 3.33Prudential PLC 3.23Novartis AG 3.11BHP Billiton PLC 2.80.......................................................................................................SAP SE 2.77Don Quijote Holdings Co Ltd 2.58Ferguson PLC 2.45Wolters Kluwer NV 2.42Daiwa House Industry Co Ltd 2.38

Morningstar Super Sectors as of 06-30-18 % Fund

h Cyclical 39.38j Sensitive 37.19k Defensive 23.43

Morningstar World Regions as of 06-30-18 % Fund

Americas 16.30........................................................................................................North America 15.24Latin America 1.07

Greater Europe 61.35........................................................................................................United Kingdom 22.72Europe Developed 37.44Europe Emerging 1.16Africa/Middle East 0.04

Greater Asia 22.35........................................................................................................Japan 18.18Australasia 0.00Asia Developed 3.20Asia Emerging 0.96

OperationsGross Prosp Exp Ratio 0.81% of fund assetsNet Prosp Exp Ratio 0.80% of fund assetsManagement Fee 0.75%12b-1 Fee .Other Fee 0.01%Miscellaneous Fee(s) 0.05%Fund Inception Date 04-01-15Total Fund Assets ($mil) 3,129.6Annual Turnover Ratio % 31.00Fund Family Name Lazard

Waiver Data Type Exp. Date %

Expense Ratio Contractual 05-01-19 0.01

Portfolio Manager(s)

John Reinsberg. Since 1992.Michael Bennett, CPA. Since 2003.................................................................................................Advisor Lazard Asset Management LLCSubadvisor .

NotesReflects a contractual agreement by the Investment Manager to waive its fee and, if necessary, Reflects a contractual agreementby the Investment Manager to waive its fee and, if necessary, reimburse the Portfolio until May 1, 2018, to the extent Total AnnualPortfolio Operating Expenses exceed .80% of the average daily net assets, exclusive of taxes, brokerage, interest on borrowings,fees and expenses of "Acquired Funds" and extraordinary expenses. This agreement can only be amended by agreement of theFund, upon approval by the Board, and the Investment Manager to lower the net amount shown and will terminate automaticallyin the event of termination of the Management Agreement between the Investment Manager and the Fund, on behalf of the Portfolio.

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CN0207-39981-0320D