Federated Hermes Kaufmann Large Cap Fund Seeking growth through IPOs and innovation (KLCAX, KLCIX) Federated Hermes Kaufmann: Ticker Portfolio Date of Price Current An intensive, bottom-up focus on Holdings symbol weight (%) IPO of IPO price growth Communication Services Investors are drawn to growth funds for , Inc. ATVI 0.22 $92.38 many reasons. One primary reason is Alphabet Inc. GOOGL 3.10 $2,510.37 the pursuit of capital appreciation, the ability to grow assets over a long Facebook, Inc. FB 2.70 5/17/12 $38.00 $350.42 period. The true power of growth T-Mobile US, Inc. TMUS 3.28 $146.01 investing rests with the ability to The Walt Disney Company DIS 0.46 $177.04 compound earnings at an Consumer Discretionary above-average rate. The challenge is identifying those stocks capable of Airbnb, Inc. ABNB 0.48 12/10/20 $68.00 $149.64 doing so over at least a three to five-year time horizon. Alibaba Group Holding Limited - ADR BABA 0.72 9/18/14 $68.00 $205.94 This underscores the value of .com, Inc. AMZN 3.87 $3,719.34 Federated Hermes Kaufmann’s Chipotle Mexican Grill, Inc. CMG 0.57 $1,592.25 emphasis on pursuing exceptional, long-term growth opportunities at the Coupang LLC CPNG 0.36 3/11/21 $35.00 $42.13 best possible price—whether by Etsy, Inc. ETSY 1.01 $195.09 uncovering up-and-coming companies Floor & Decor Holdings, Inc. FND 0.55 $107.92 through intensive research, increasing positions in great companies when the Home Depot, Inc. HD 0.89 $322.09 overall market stumbles or identifying Las Vegas Sand Corp. LVS 1.01 $51.33 strong potential at the initial public MercadoLibre, Inc. MELI 0.33 $1,554.97 offering (IPO) stage. NIKE, Inc. NKE 1.14 $161.00 The Federated Hermes The TJX Companies, Inc. TJX 1.11 $68.36 Kaufmann team uncovers growth inc. LULU 1.38 $377.42 opportunities through: Consumer Staples . On-the-ground research Wholesale Corporation COST 0.99 $412.37 Participates in more than 3,500 Estee Lauder Cos., Inc., Class A EL 0.46 $317.87 meetings with company management Energy teams and ancillary businesses each New Fortress Energy, Inc. year to uncover insights NFE 0.40 $35.44 Schlumberger Ltd. SLB 0.32 $31.19 . Access to the IPO Market Financials Of the 80 holdings in the Federated BlackRock, Inc. Hermes Kaufmann Large Cap Fund, BLK 2.37 $901.31 10 were purchased at IPO (11.1% of Coinbase Global Inc COIN 0.30 $253.88 the fund) JPMorgan Chase & Co. JPM 1.77 $155.77 KKR & Co., Inc Class COMMON KKR 2.10 $59.10 . Relationships with several MSCI Inc. MSCI 0.80 $560.23 investment banks The Goldman Sachs Group, Inc. GS 1.76 $371.76 Further strengthens the management team’s ability to participate in the Health Care difficult-to-access IPO market Abbott Laboratories ABT 0.51 $119.74 Alcon, Inc. ALC SW 0.55 CHF64.34 Alnylam Pharmaceuticals, Inc. ALNY 2.01 $176.74 Argenx SE - ADR ARGX 1.12 $313.07 Catalent, Inc. CTLT 0.98 $113.25 Charles River Laboratories International, Inc. CRL 0.29 $384.89 Danaher Corp. DHR 1.03 $277.47 , Inc. DXCM 1.20 $440.73 Edwards Lifesciences Corporation EW 1.24 $107.51 Genmab A/S GMAB DC 2.44 kr2,703.62 , Inc. IDXX 2.37 $667.03 , Inc. ISRG 0.31 $950.78 , Inc. MRNA 1.52 $232.81 Stryker Corp. SYK 0.71 $264.43

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Source: FactSet. Information as of 6/30/21. The fund is a managed portfolio and holdings are subject to change. Past performance is no guarantee of future results. For current fund performance, visit FederatedInvestors.com. Not FDIC Insured . May Lose Value . No Bank Guarantee Federated Hermes Kaufmann Large Cap Fund

Ticker Portfolio Date of Price Current Holdings symbol weight (%) IPO of IPO price Ultragenyx Pharmaceutical, Inc. RARE 1.33 $91.34 Veeva Systems Inc. VEEV 2.46 $321.41 , Inc. VRTX 0.53 $198.16

Zai Lab Limited 9688HK 0.95 9/22/20 562.00 $1,315.17

Zoetis Inc. ZTS 1.67 1/31/13 26.00 $197.50 Industrials CoStar Group Inc CSGP 1.75 $86.28 Generac Holdings, Inc. GNRC 0.95 $436.37 IHS Markit Ltd INFO 2.00 $113.52 Trane Technologies Public Limited Company TT 3.36 $190.32

Verisk Analytics, Inc. VRSK 0.58 10/6/09 22.00 $181.71 Information Technology Adobe Inc. ADBE 0.26 $604.50 , Inc. AMD 0.50 $90.90 Apple Inc. AAPL 1.31 $145.11 Coupa Software, Inc. COUP 0.19 $266.64 Fidelity National Information Services, Inc. FIS 1.83 $144.42 GDS Holdings Ltd.- ADR GDS 0.50 $70.45 GoDaddy, Inc. GDDY 0.93 $87.43 Marvell Technology, Inc. MRVL 1.07 $57.00 Mastercard, Inc. MA 2.34 $372.94 Corporation MSFT 4.23 $277.94 PagSeguro Digital Ltd. PAGS 2.24 $53.59 PayPal Holdings, Inc. PYPL 0.21 $300.21 , Inc. QCOM 0.45 $141.43

Qualtrics International, Inc. XM 0.45 1/28/21 30.00 $35.52 ServiceNow, Inc. NOW 3.06 $566.37 Shopify, Inc. SHOP 1.06 $1,494.99 , Inc. SPLK 0.79 $138.37 Unity Software, Inc. U 0.30 $106.53 Visa Inc. V 2.52 $238.47

Workday, Inc. WDAY 0.55 10/12/12 28.00 $239.94 salesforce.com, inc. CRM 2.85 $245.06 Materials Air Products and Chemicals, Inc. APD 0.47 $291.67

Ecolab Inc. ECL 0.93 11/12/08 30.50 $212.76 Scotts Co. SMG 0.39 $183.36 The Sherwin-Williams Company SHW 2.45 $276.22 Real Estate Crown Castle International Corp. CCI 1.03 $201.72 Utilities NextEra Energy Inc NEE 0.36 $74.99 Other Federated Hermes Institutional Prime Value Obligations Fund - Class IS PVOXX 0.37 $1.00 Source: FactSet. Holdings are as of 6/30/21. The fund is a managed portfolio and holdings are subject to change. Does not include cash. Past performance is no guarantee of future results. For current fund performance, visit FederatedInvestors.com. Investors should carefully consider the fund’s investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, contact us or visit FederatedInvestors.com. Please carefully read the summary prospectus or prospectus before investing. Please visit FederatedInvestors.com and click on the Characteristics tab for more information on Portfolio. Russell 1000® Growth Index measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. Indexes are unmanaged and cannot be invested in directly. Mutual funds are subject to risks and fluctuate in value. International investing involves special risks including currency risk, increased volatility, political risks and differences in auditing and other financial standards. Investing in IPOs involves special risks such as limited liquidity and increased volatility. The holdings percentages are based on net assets and may not necessarily reflect adjustments that are routinely made when presenting net assets for formal financial statement purposes. Because this is a managed portfolio, the investment mix will change. 44523 (8/21) FederatedInvestors.com Federated Securities Corp., Distributor © 2021 Federated Hermes, Inc.