MFS® Core Equity Fund (Class R6 Shares) Second quarter 2021 investment report

NOT FDIC INSURED MAY LOSE VALUE NOT A DEPOSIT Before investing, consider the fund's investment objectives, risks, charges, and expenses. For a prospectus, or summary prospectus, containing this and other information, contact MFS or view online at mfs.com. Please read it carefully. ©2021 MFS Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199.

FOR DEALER AND INSTITUTIONAL USE ONLY. Not to be shown, quoted, or distributed to the public. PRPEQ-RGI-30-Jun-21 34135 Table of Contents

Contents Page

Fund Risks 1

Disciplined Investment Approach 2

Market Overview 3

Executive Summary 4

Performance 5

Attribution 6

Significant Transactions 10

Portfolio Positioning 11

Characteristics 12

Portfolio Outlook 13

Portfolio Holdings 16

Additional Disclosures 20

Performance and attribution results are for the fund or share class depicted and do not reflect the impact of your contributions and withdrawals. Your personal performance results may differ. Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.

0 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund PRPEQ-RGI-30-Jun-21 Fund Risks

The fund may not achieve its objective and/or you could lose money on your investment in the fund. Stock: Stock markets and investments in individual stocks are volatile and can decline significantly in response to or investor perception of, issuer, market, economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions. Please see the prospectus for further information on these and other risk considerations.

1 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 1 PRPEQ-RGI-30-Jun-21 Disciplined Investment Approach

Investment objective Seekscapitalappreciation

Goals OutperformtheRussell 3000® Indexover full market cycle

Bottom-upanalysis offers thebest opportunitytotry and identifyhigh-quality (durablefranchises, sustainable e earnings Philosophy and/orfreecashflowgrowth, strong balance sheet, and strong management team)companies with above average, sustainable earnings growth.

Analyst-driven decision making process Core, multi-capitalization investment strategyallows flexibility Strategy tosearch for highest conviction ideas Managed generally as an industryneutral industryneutral strategyrelative strategyrelative toRussell 3000index3000® Index

2 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 2 PRPEQ-RGI-30-Jun-21 Market Overview

Style performance (%) (USD) as of 30-Jun-21 Sector performance (%) (USD) as of 30-Jun-21 2Q 2021 1 Year 2Q 2021 1 Year

73.3 61.6

53.8 48.9 53.1 51.4 41.1 43.8 43.7 42.5 40.8 34.1 32.4 29.8 24.2 20.1

13.0 11.9 11.1 8.1 8.5 7.5 5.9 5.7 5.6 5.7 5.2 5.2 4.6 3.9 4.7 3.1 Energy Value Value Value Russell Russell Growth Growth Growth Growth Growth Growth Midcap S&P 500 S&P Health Care Health Technology Capital Goods Capital NetReturn Telecom/CATV MSCIEAFE - Russell 1000 Russell1000 Russell 1000 Russell1000 Russell2000 Russell2000 Midcap Value Financial Services Financial Consumer Staples Consumer Consumer Cyclicals Consumer Source for benchmark performance SPAR, FactSet Research Systems Inc. All indices Source: FactSet. Sector performance based on Global Research sector classification. represent total return unless otherwise noted. The analysis of Russell 3000® Index constituents are broken out by MFS defined sectors. Market review as of 30-JUN-21

The US market, as measured by the S&P 500 Index, moved higher in Q2. In For the quarter, growth outperformed value in the large- and mid-cap general, investors remained focused on the largely reopened economy spaces, but value outperformed growth in the small-cap space. This was a and shrugged off concerns related to higher inflation and a tight labor reversal of the previous two quarters in large- and mid-cap stocks and was market. likely caused in part by interest rates that trended lower throughout the Economic growth in the United States moved higher during Q1 2021, with period. During Q2, the best-performing sectors were real estate, GDP of 6.4%. As expected, the economy continued to rebound from the technology and energy. Utilities, consumer staples and industrials were downturn as substantial fiscal stimulus worked its way through the the weakest sectors on a relative basis. system. While the US Federal Reserve acknowledged rising inflation, it plans to keep interest rates near zero until the economy fully heals from the pandemic.

3 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 3 PRPEQ-RGI-30-Jun-21 Executive Summary

Performance results (%) R6 shares at NAV (USD) as of 30-Jun-21 Sector weights (%) as of 30-Jun-21 Portfolio Benchmark^^ Portfolio Benchmark^ Top overweights Capital Goods 13.6 13.4 Technology 32.1 31.9 44.16 Telecom / CATV 3.0 2.8 39.91 Top underweights Consumer Cyclicals 12.8 13.8 Financial Services 14.6 15.1 Energy 5.0 5.1 18.70 17.89 18.91 18.73 ^^ Russell 3000® Index 14.92 14.70 14.86 15.11 The sectors described and the associated portfolio composition are 8.46 8.24 based on MFS' own sector classification methodology which differs from industry classification standards, including the standard that is associated with the benchmark composition presented. The variance in sector weights between the portfolio and the benchmark would be different if an industry classification standard was used. 10 year 5 year 3 year 1 year YTD 2Q 2021 Performance data shown represent past performance and are no guarantee of future results. Investment return and principal value fluctuate so your shares, when sold, may be worth The MFS Core Equity Fund outperformed the Russell 3000® Index in the more or less than the original cost; current performance may be lower or higher than quoted. second quarter of 2021. For most recent month-end performance, please visit mfs.com. Contributors Detractors Performance results reflect any applicable expense subsidies and waivers in effect during the • Telecom/CATV – Stock selection • Health Care – Stock selection periods shown. Without such subsidies and waivers the fund's performance results would be less • Capital Goods – Stock selection • Technology – Stock selection favorable. All results assume the reinvestment of dividends and capital gains. • Financial Services – Stock •Individual stocks: Shares are available without a sales charge to eligible investors. selection - Grand Canyon Education Inc For periods of less than one-year returns are not annualized. • Consumer Staples – Stock - Truist Financial Corp Source for benchmark performance SPAR, FactSet Research Systems Inc. selection Included in all fund classes' total returns for the year ended December 31, 2017, are proceeds •Individual stocks: received from a non-recurring litigation settlement against Household International Inc. Had - Adobe Systems Inc these proceeds not been included, all total returns within calendar year 2017 would have been - Eli Lilly & Co lower by 0.89%. ^ Russell 3000® Index - Walt Disney Co/The (not held) - Atlassian Corp Plc

4 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 4 PRPEQ-RGI-30-Jun-21 Performance Results

Performance results (%) R6 shares at NAV (USD) as of 30-Jun-21

Excess return vs Period Portfolio (%) Benchmark^ (%) benchmark (%) 3Q 2020 8.39 9.21 -0.82 4Q 2020 12.39 14.68 -2.29 1Q 2021 5.90 6.35 -0.45 2Q 2021 8.46 8.24 0.22 2016 11.50 12.74 -1.23 2017 24.85 21.13 3.72 2018 -3.82 -5.24 1.42 2019 33.19 31.02 2.17 2020 18.97 20.89 -1.92 2021 YTD 14.86 15.11 -0.25 10 year 14.92 14.70 0.22 5 year 18.70 17.89 0.81 3 year 18.91 18.73 0.18 1 year 39.91 44.16 -4.25 Performance data shown represent past performance and are no guarantee of future results. Investment return and principal value fluctuate so your shares, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. For most recent month-end performance, please visit mfs.com. Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable. All results assume the reinvestment of dividends and capital gains. Performance for Class R shares includes the performance of the fund's Class I shares, adjusted to take into account differences in sales loads and class-specific operating expenses (such as Rule 12b-1 fees), if any, for periods prior to their offering. Please see the prospectus for additional information about performance and expenses. Shares are available without a sales charge to eligible investors. For periods of less than one-year returns are not annualized. Source for benchmark performance SPAR, FactSet Research Systems Inc. Included in all fund classes' total returns for the year ended December 31, 2017, are proceeds received from a non-recurring litigation settlement against Household International Inc. Had these proceeds not been included, all total returns within calendar year 2017 would have been lower by 0.89%. ^ Russell 3000® Index

5 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 5 PRPEQ-RGI-30-Jun-21 Performance Drivers - Sectors

Average Relative Relative to Russell 3000® Index (USD) - Portfolio Benchmark Sector Stock relative + = contribution second quarter 2021 returns (%) returns (%) allocation1 (%) selection2 (%) weighting (%) (%) Contributors Telecom/CATV 0.1 14.2 5.7 0.0 0.2 0.2 Capital Goods -0.4 5.8 4.7 0.0 0.2 0.2 Financial Services -0.5 8.6 7.5 -0.0 0.2 0.2 Consumer Staples -0.0 5.9 3.1 0.0 0.1 0.1 Consumer Cyclicals -0.9 6.0 5.6 0.0 0.1 0.1

Detractors Cash 1.4 0.0 – -0.1 – -0.1 Health Care -0.0 7.1 8.1 0.0 -0.1 -0.1 Technology 0.5 12.6 13.0 0.0 -0.1 -0.1 Energy -0.0 4.8 5.9 0.0 -0.1 -0.1

Total 8.6 8.2 -0.1 0.5 0.4 1 Sector allocation is calculated based upon each security's price in local currency. 2 Stock selection is calculated based upon each security's price in local currency and included interaction effect. Interaction effect is the portion of the portfolio's relative performance attributable to combining allocation decisions with stock selection decisions. This effect measures the relative strength of the manager's convictions. The interaction effect is the weight differential times the return differential. Attribution results are generated by the FactSet application utilizing a methodology that is widely accepted in the investment industry. Results are based upon daily holdings using a buy-and-hold methodology to generate individual security returns and do not include fees or expenses. As such, attribution results are essentially estimates and do not aggregate to the total return of the portfolio, which can be found elsewhere in this presentation. To obtain the contribution calculation methodology and a complete list of every holding’s contribution to the overall portfolio’s performance during the measurement period, please email [email protected]. The sectors described and the associated portfolio composition are based on MFS' own sector classification methodology which differs from industry classification standards, including the standard that is associated with the benchmark composition presented. The variance in sector weights between the portfolio and the benchmark would be different if an industry classification standard was used.

6 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 6 PRPEQ-RGI-30-Jun-21 Performance Drivers - Stocks

Average Weighting (%) Returns (%) Relative Relative to Russell 3000® Index (USD) - second quarter 2021 Portfolio Benchmark Portfolio¹ Benchmark contribution (%) Contributors Adobe Systems Inc 1.5 0.6 23.2 23.2 0.1 Eli Lilly & Co 1.1 0.4 23.4 23.4 0.1 Walt Disney Co/The – 0.8 – -4.7 0.1 Tesla Inc – 1.2 – 1.8 0.1 Atlassian Corp Plc 0.7 0.1 21.9 21.9 0.1 Detractors Nvidia Corp – 0.9 – 49.9 -0.3 Biogen Inc 0.1 0.1 -14.9 23.8 -0.1 Grand Canyon Education Inc 0.3 0.0 -16.0 -16.0 -0.1 Truist Financial Corp 0.7 0.2 -4.1 -4.1 -0.1 Cigna Corp (Eq) 1.0 0.2 -1.5 -1.5 -0.1

1 Represents performance for the time period stock was held in portfolio. Attribution results are generated by the FactSet application utilizing a methodology that is widely accepted in the investment industry. Results are based upon daily holdings using a buy-and-hold methodology to generate individual security returns and do not include fees or expenses. As such, attribution results are essentially estimates and do not aggregate to the total return of the portfolio, which can be found elsewhere in this presentation. To obtain the contribution calculation methodology and a complete list of every holding’s contribution to the overall portfolio’s performance during the measurement period, please email [email protected].

7 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 7 PRPEQ-RGI-30-Jun-21 Significant Impacts on Performance - Contributors

Relative Relative to Russell 3000® Index (USD) - second quarter 2021 contribution (%)

Adobe Systems Inc An overweight position in software company Adobe Systems (United States) aided relative returns. The company reported strong 0.1 quarterly earnings results, driven by higher-than-expected net new digital average recurring revenues and digital experience subscription growth. Eli Lilly & Co The portfolio's overweight position in pharmaceutical company Eli Lilly (United States) aided relative results. Shares of the 0.1 company increased following the Food and Drug Administration's approval of rival Biogen's Alzheimer's drug, suggesting that Eli Lilly's own Alzheimer's drug may receive regulatory approval. Walt Disney Co/The Not holding shares of media conglomerate Walt Disney (United States) contributed to relative performance as the company 0.1 delivered mixed second-quarter financial results. Although management posted earnings per share results ahead of estimates, lower-than-expected Disney+ subscriber additions weighed on the stock.

8 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 8 PRPEQ-RGI-30-Jun-21 Significant Impacts on Performance - Detractors

Relative Relative to Russell 3000® Index (USD) - second quarter 2021 contribution (%)

Nvidia Corp Not owning computer graphics processor maker NVIDIA (United States) held back relative results. The company posted strong -0.3 revenues for the quarter, driven by better-than-anticipated broad-based demand and capacity additions at its Gaming, Datacenter, and Pro Vis segments. Biogen Inc The timing of the portfolio's ownership in shares of biotechnology company Biogen (United States) held back relative performance. -0.1 The company reported quarterly financial results in line with consensus expectations, driven by cost control measures and solid performance in its drugs Tecfidera and Vumerity.

Grand Canyon The portfolio's overweight position in educational services provider Grand Canyon Education (United States) held back relative -0.1 returns. Although the company reported solid financial results for the first quarter, its share price declined as a weaker outlook for Education Inc new enrollments appeared to have weighed on investor sentiment.

9 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 9 PRPEQ-RGI-30-Jun-21 Significant Transactions

Ending From 01-Apr-21 to 30-Jun-21 Sector Transaction type Trade (%) weight (%) Purchases RAYONIER INC Capital Goods New position 0.5 0.5 BIOGEN INC Health Care New position 0.4 0.3 BROADCOM INC Technology Add 0.4 0.8 T-MOBILE US INC Telecom / CATV Add 0.4 1.4 PACCAR INC Capital Goods New position 0.3 0.3

Sales ELI LILLY AND CO Health Care Trim -0.6 0.9 EPR PROPERTIES Financial Services Trim -0.5 0.3 QUEST DIAGNOSTICS INC Health Care Eliminate position -0.4 – NXP SEMICONDUCTORS NV Technology Trim -0.3 0.2 TEXAS INSTRUMENTS INC Technology Trim -0.3 0.6

The sectors described and the associated portfolio composition are based on MFS' own sector classification methodology which differs from industry classification standards, including the standard that is associated with the benchmark composition presented. The variance in sector weights between the portfolio and the benchmark would be different if an industry classification standard was used.

10 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 10 PRPEQ-RGI-30-Jun-21 Sector Weights

Underweight/ As of 30-Jun-21 Portfolio (%) Benchmark^ (%) Top holdings overweight (%) Capital Goods 13.6 13.4 0.2 Kansas City Southern Technology 32.1 31.9 0.2 Apple Inc, Microsoft Corp, Alphabet Inc Class A Telecom / CATV 3.0 2.8 0.2 T-Mobile US Inc, Liberty Broadband Corp Consumer Staples 4.3 4.3 0.0 PepsiCo Inc Health Care 13.6 13.6 0.0 Johnson & Johnson, Merck & Co Inc, ICON PLC Energy 5.0 5.1 -0.1 Chevron Corp Visa Inc, Bank of America Corp, Goldman Sachs Financial Services 14.6 15.1 -0.5 Group Inc Consumer Cyclicals 12.8 13.8 -1.0 Amazon.com Inc, Home Depot Inc ^ Russell 3000® Index 0.9% Cash & cash equivalents The sectors described and the associated portfolio composition are based on MFS' own sector classification methodology which differs from industry classification standards, including the standard that is associated with the benchmark composition presented. The variance in sector weights between the portfolio and the benchmark would be different if an industry classification standard was used.

11 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 11 PRPEQ-RGI-30-Jun-21 Characteristics

As of 30-Jun-21 Portfolio Benchmark^ Top 10 issuers as of 30-Jun-21 Portfolio (%) Benchmark^ (%) Fundamentals - weighted average APPLE INC 5.6 4.9 IBES long-term EPS growth 1 19.3% 18.1% MICROSOFT CORP 5.4 4.6 Price/earnings (12 months forward) 24.0x 23.7x Market capitalization AMAZON.COM INC (EQ) 4.2 3.4 2 Market capitalization (USD) 483.3 bn 449.4 bn ALPHABET INC 3.7 3.3 Diversification Top ten holdings 29% 23% FACEBOOK INC 2.0 1.9 Number of holdings 206 3,007 VISA INC 1.7 0.9 Turnover ADOBE INC 1.6 0.6 Trailing 1 year turnover 3 34% – BANK OF AMERICA CORP 1.5 0.7 Risk/reward (5 year) Historical tracking error 1.97% – T-MOBILE US INC 1.4 0.2 Standard deviation 14.85% 15.65% JOHNSON & JOHNSON 1.4 1.0 Beta 0.94 – ^ Russell 3000® Index Total 28.6 21.4 Past performance is no guarantee of future results. No forecasts can be guaranteed. 1 Source: Ibbotson 2 Weighted average. 3 US Turnover Methodology: (Lesser of Purchase or Sales)/Average Month End Market Value

12 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 12 PRPEQ-RGI-30-Jun-21 Portfolio Outlook and Positioning

We employ a generally industry-neutral approach relative to the Russell 3000® Index and use our bottom-up fundamental investment approach to try and identify solid companies. We do this while maintaining a bias toward companies generating above-average, sustainable growth, whose stocks trade at reasonable valuations. Our analysts seek to add value within their industries through stock selection. Inflation has been a topic of debate recently, and there are varying opinions on whether it is transitory or persistent. The US Federal Reserve is of the view that it is transitory, and it appears equity investors may agree given the muted market reaction to higher than expected inflation rates. Some inflationary pressures are the result of supply/demand imbalances caused by the pandemic and we feel may be transitory. For example, lumber prices have fallen roughly 40% since the highs in early May as replenishment at lumber mills has helped supply and lower demand from people now spending less time at home has helped correct the supply/demand mismatch. In working with our analyst teams from a bottom-up approach, one area where we feel inflation could be more persistent is in labor and wages. Across many different sectors, we have been hearing from management teams that they are seeing signs of higher labor costs across their organizations and average hourly earnings increased at a 6%+ annualized rate in May. Entry level employees, service sector jobs, factories, distribution centers and transportation are a few areas where these issues appear most acute. As we think about the impact of inflation, we feel certain companies are better positioned to withstand inflationary pressures. For example, companies with strong moats who have pricing power, companies with contractual pass throughs that can act as a good inflation hedge, companies with scale that can procure supplies/hold inventory in tight supply situations or companies experiencing strong demand. Strong management teams can also succeed in taking costs out to offset some of the inflation dynamics. The debate around inflation will continue, and we will continue to monitor its potential impact on margins.

In our view, the environment for active management has improved as we moved through the first half of the year with fundamentals, in particular earnings, now driving returns. The environment for active did become less favorable in June, when mega-cap technology stocks outperformed, but the strategy finished the quarter ahead of the Russell 3000. Strong stock selection in telecom/CATV, capital goods and financial services led the way.

The portfolio initiated or added to several names during the quarter. These included Rayonier, Biogen and Broadcom. We started a new position in REIT Rayonier. Rayonier is largely a pure play timber REIT that sells timber, sells timberland for higher and better use (HBU), reinvests into growing new timber, and buys new timberland with locations in the US South, Pacific Northwest and New Zealand. This is a business that we believe deserves a high multiple for a variety of reasons. In particular, the annual return is perpetually sustainable, as it is funded by the continuous cycle of

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harvesting annual volume growth minus the cost to replace the harvest with replanting. In traditional property REIT terms, Rayonier grows its rental income each year. In addition, we feel demand should be steady with secular tailwinds from housing and it offers good locations in the strongest sub-markets in the US south and export exposure to meet Asia Pacific demand, and its operational expertise is among the best in the peer group. Finally, we believe increasing demand for wood products as a substitute for concrete and steel, and a positive carbon capture opportunity is not fully appreciated by the market. We think it is possible that timberland values gain additional support from the increasing awareness of timberland as an environmentally friendly and sustainable business. Specifically, wood is a renewable resource and products derived from wood sequester carbon, comparing favorably to alternative materials even when factoring in the use of logging equipment, kiln drying and the transportation of finished goods. In addition, Rayonier has measured their net carbon impact, the amount of carbon sequestered by their forests after considering their corporate and forestry-related emissions as well as the portion removed through harvest activity, and they have determined they generated net positive carbon sequestration in 2019. A position in Biogen was initiated during the quarter. The company received FDA approval in June 2021 for their Alzheimer drug. While there are unanswered questions, one involving what success will come from the post-approval confirmatory trial of a clinical benefit, the risk/reward looks attractive. Our position in Broadcom was increased as the company delivered a solid April quarter showing increases in sales, adjusted earnings per share (EPS), free cash flow (FCF) and free cash flow margins. Management guided revenue growth on a year over year (YoY) basis slightly ahead of expectations.

The portfolio eliminated or trimmed several companies during the quarter. These included Eli Lilly, EPR Properties and Quest Diagnostics. Eli Lilly was reduced as the stock outperformed on a relative basis over the QTD and YTD period, making its valuation less attractive versus its peers. EPR Properties was trimmed over the period as the stock has moved higher this year with the reopening of the economy. Quest Diagnostics was eliminated from the portfolio to fund other health care names that offered higher growth rates and a better risk/reward potential. As interest rates declined during the quarter, the growth and mega-cap tech trade was able reassert itself, especially during June. However, if history is a guide, this may be temporary and the rotation from growth to value may have more room to run. According to data from Bank of America, during prior value cycles, growth has outperformed one out of every three months in a value cycle and growth's outperformance in June we feel may be one of those pauses in this value cycle. In addition, the current value cycle started about 9 months ago, compared to 33 months for the average cycle, and value generally has led until earnings growth peaks, which may not be until next year. We have also started to see stronger earnings and economic growth and returns are starting to follow fundamentals and earnings as opposed to multiple expansion that drove the initial move higher last year. High beta, small caps and low quality were the initial beneficiaries of the sharp move higher in economic data, but as the

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economic data normalizes, we think investors may move out of the riskiest segments of the cyclical trade and towards quality, which has started to occur. Our focus on investing in durable franchises with the ability to generate more sustainable earnings aims to serve the strategy well moving forward.

The commentary included in this report was based on a representative fully discretionary portfolio for this product style; as such the commentary may include securities not held in your portfolio due to account, fund, or other limits.

45758.6 15 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 15 PRPEQ-RGI-30-Jun-21 Portfolio Holdings

Equivalent Equivalent As of 30-Jun-21 As of 30-Jun-21 exposure (%) exposure (%) Capital Goods 13.6 Capital Goods 13.6 Kansas City Southern 0.7 API Group Corp 0.2 Honeywell International Inc 0.7 AZEK Co Inc 0.2 LKQ Corp 0.6 Howmet Aerospace Inc 0.2 Raytheon Technologies Corp 0.6 Northrop Grumman Corp 0.2 Canadian Pacific Railway Ltd 0.6 IDEX Corp 0.2 Roper Technologies Inc 0.5 Curtiss-Wright Corp 0.2 Rayonier Inc REIT 0.5 JB Hunt Transport Services Inc 0.1 Sensata Technologies Holding PLC 0.4 Sherwin-Williams Co 0.1 Eaton Corp PLC 0.4 FMC Corp 0.1 Caterpillar Inc 0.4 TE Connectivity Ltd 0.1 Aptiv PLC 0.4 Univar Solutions Inc 0.1 Masco Corp 0.3 CACI International Inc 0.1 Platform Specialty Products Corp 0.3 DR Horton Inc 0.1 PACCAR Inc 0.3 Comfort Systems USA Inc 0.1 AvalonBay Communities Inc REIT 0.3 Parsons Corp 0.1 DuPont de Nemours Inc 0.3 US Ecology Inc 0.1 INGERSOLL-RAND INC 0.3 Amphenol Corp 0.0 Air Products and Chemicals Inc 0.3 Cash & Cash Equivalents 0.9 Trane Technologies PLC 0.3 Cash & Cash Equivalents 0.9 AMETEK Inc 0.3 Consumer Cyclicals 12.8 Ball Corp 0.3 Amazon.com Inc 4.2 Vulcan Materials Co 0.3 Home Depot Inc 1.3 Johnson Controls International PLC 0.3 Walmart Inc 1.0 L3Harris Technologies Inc 0.3 Dollar General Corp 0.9 Avient Corp 0.2 Starbucks Corp 0.8 Axalta Coating Systems Ltd 0.2 Electronic Arts Inc 0.6 GFL Environmental Inc 0.2 Netflix Inc 0.4 Ashland Global Holdings Inc 0.2 Uber Technologies Inc 0.3 Diversey Holdings Ltd 0.2 Marriott International Inc/MD 0.3 Otis Worldwide Corp 0.2 Grand Canyon Education Inc 0.3 Regal Beloit Corp 0.2 The Wendys Co 0.3 Atotech Ltd 0.2 Ross Stores Inc 0.3

16 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 16 PRPEQ-RGI-30-Jun-21 Portfolio Holdings

Equivalent Equivalent As of 30-Jun-21 As of 30-Jun-21 exposure (%) exposure (%) Consumer Cyclicals 12.8 Energy 5.0 Burlington Stores Inc 0.3 NextEra Energy Inc 0.6 Wyndham Hotels & Resorts Inc 0.2 ChampionX Corp 0.3 Skechers U.S.A. Inc 0.2 ConocoPhillips 0.3 Farfetch Ltd 0.2 CenterPoint Energy Inc 0.3 Bright Horizons Family Solutions Inc 0.2 Exelon Corp 0.3 ROBLOX Corp 0.2 American Electric Power Co Inc 0.2 NIKE Inc 0.2 Xcel Energy Inc 0.2 Petco Health & Wellness Co Inc 0.2 Valero Energy Corp 0.2 Performance Food Group Co 0.1 Diamondback Energy Inc 0.2 Urban Outfitters Inc 0.1 Pioneer Natural Resources Co 0.2 Warner Music Group Corp 0.1 PG&E Corp 0.2 Discovery Inc 0.1 Southern Co 0.2 Penn National Gaming Inc 0.1 Enterprise Products Partners LP 0.2 ThredUp Inc 0.0 Evergy Inc 0.2 Consumer Staples 4.3 Duke Energy Corp 0.2 PepsiCo Inc 0.7 Cactus Inc 0.1 Mondelez International Inc 0.6 DTE Energy Co 0.1 Philip Morris International Inc 0.5 Cheniere Energy Inc 0.1 Colgate-Palmolive Co 0.4 Pinnacle West Capital Corp 0.1 Procter & Gamble Co 0.4 Financial Services 14.6 Kimberly-Clark Corp 0.3 Visa Inc 1.7 Constellation Brands Inc 0.3 Bank of America Corp 1.5 Archer-Daniels-Midland Co 0.3 Goldman Sachs Group Inc 1.3 International Flavors & Fragrances Inc 0.2 Aon PLC 1.0 Coca-Cola Europacific Partners PLC 0.2 PNC Financial Services Group Inc 0.9 Coca-Cola Co 0.1 Truist Financial Corp 0.8 J M Smucker Co 0.1 Charles Schwab Corp 0.8 Hostess Brands Inc 0.1 Invesco Ltd 0.5 Oatly Group AB ADR 0.1 Arthur J Gallagher & Co 0.5 Nomad Foods Ltd 0.0 Chubb Ltd 0.5 Energy 5.0 American Express Co 0.4 Chevron Corp 0.8 Moody's Corp 0.4

17 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 17 PRPEQ-RGI-30-Jun-21 Portfolio Holdings

Equivalent Equivalent As of 30-Jun-21 As of 30-Jun-21 exposure (%) exposure (%) Financial Services 14.6 Health Care 13.6 Cboe Global Markets Inc 0.4 Becton Dickinson and Co 0.6 US Bancorp 0.3 Danaher Corp 0.5 EPR Properties REIT 0.3 Maravai LifeSciences Holdings Inc 0.4 Hartford Financial Services Group Inc 0.3 Biogen Inc 0.3 Extra Space Storage Inc REIT 0.3 PerkinElmer Inc 0.3 Assurant Inc 0.3 Illumina Inc 0.3 STORE Capital Corp REIT 0.3 Quidel Corp 0.3 Bank OZK 0.3 Align Technology Inc 0.2 Northern Trust Corp 0.3 Organon & Co 0.2 MetLife Inc 0.2 LifeStance Health Group Inc 0.2 Broadstone Net Lease Inc REIT 0.2 IDEXX Laboratories Inc 0.1 Empire State Realty Trust Inc REIT 0.2 Guardant Health Inc 0.1 Everest Re Group Ltd 0.1 Healthcare Services Group Inc* -0.4 SVB Financial Group 0.1 Technology 32.1 Reinsurance Group of America Inc 0.1 Apple Inc 5.6 Lexington Realty Trust REIT 0.1 Microsoft Corp 5.4 Sun Communities Inc REIT 0.1 Alphabet Inc Class A 3.7 SiriusPoint Ltd 0.1 Facebook Inc 2.0 United Community Banks Inc/GA 0.1 Adobe Inc 1.6 Health Care 13.6 salesforce.com Inc 1.1 Johnson & Johnson 1.4 Applied Materials Inc 0.9 Merck & Co Inc 1.2 PayPal Holdings Inc 0.9 ICON PLC 1.1 Broadcom Inc 0.8 Zoetis Inc 0.9 Cadence Design Systems Inc 0.7 Cigna Corp 0.9 Atlassian Corp PLC 0.7 Medtronic PLC 0.9 TransUnion 0.6 Eli Lilly & Co 0.9 ServiceNow Inc 0.6 STERIS PLC 0.7 Texas Instruments Inc 0.6 Vertex Pharmaceuticals Inc 0.7 Equinix Inc REIT 0.5 Boston Scientific Corp 0.6 Advanced Micro Devices Inc 0.5 Humana Inc 0.6 Lam Research Corp 0.5 McKesson Corp 0.6 Intel Corp 0.5

18 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 18 PRPEQ-RGI-30-Jun-21 Portfolio Holdings

Equivalent As of 30-Jun-21 exposure (%) Technology 32.1 Clarivate PLC 0.4 Square Inc 0.4 Zebra Technologies Corp 0.4 Fidelity National Information Services Inc 0.4 EPAM Systems Inc 0.4 Accenture PLC 0.3 Everbridge Inc 0.3 Global Payments Inc 0.3 Fiserv Inc 0.3 Eventbrite Inc 0.3 Rapid7 Inc 0.3 Dragoneer Growth Opportunities Corp 0.2 Monolithic Power Systems Inc 0.2 Amdocs Ltd 0.2 NXP Semiconductors NV 0.2 Ping Identity Holding Corp 0.1 Silicon Laboratories Inc 0.1 Telecom / CATV 3.0 T-Mobile US Inc 1.4 Liberty Broadband Corp 1.0 SBA Communications Corp REIT 0.6 Cable One Inc 0.1 Crown Castle International Corp REIT* -0.2 * Short positions, unlike long positions, lose value if the underlying asset gains value. The sectors described and the associated portfolio composition are based on MFS' own sector classification methodology which differs from industry classification standards, including the standard that is associated with the benchmark composition presented. The variance in sector weights between the portfolio and the benchmark would be different if an industry classification standard was used.

19 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 19 PRPEQ-RGI-30-Jun-21 Additional Disclosures

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20 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS Core Equity Fund 20 PRPEQ-RGI-30-Jun-21