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MFS® International Growth Fund (Class R6 Shares) Second Quarter 2021 Investment Report

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MFS® International Growth 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-FGF-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 14 Portfolio Outlook 15 Portfolio Holdings 20 Additional Disclosures 22 Country and region information contained in this report is based upon MFS classification methodology which may differ from the methodology used by individual benchmark providers. 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 International Growth Fund PRPEQ-FGF-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. International: Investments in foreign markets can involve greater risk and volatility than U.S. investments because of adverse market, currency, economic, industry, political, regulatory, geopolitical, or other conditions. Emerging Markets: Emerging markets can have less market structure, depth, and regulatory, custodial or operational oversight and greater political, social, geopolitical and economic instability than developed markets. Growth: Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general. Please see the prospectus for further information on these and other risk considerations. 1 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS International Growth Fund 1 PRPEQ-FGF-30-Jun-21 Disciplined Investment Approach Investment objective Seekscapitalappreciation OutperformtheMSCIACWorld(ex-US)GrowthIndex(netdiv)over full Goal market cycles Webelieve: Over-reaction toshorterterm events provides longer term opportunities Philosophy Qualityisunderappreciated bythemarket OurIntegrated bottomupglobal research platformcan identifythoseopportunities Generallyhashad70– 90 holdings seekingtooffer above average earnings growth potential Strategy Seeksstockswith long-term earnings growth potential Objective isfor stockselectiontodrivealpha 2 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS International Growth Fund 2 PRPEQ-FGF-30-Jun-21 Market Overview Region performance (%) (USD) as of 30-Jun-21 Sector performance (%) (USD) as of 30-Jun-21 2Q 2021 1 Year 2Q 2021 1 Year 54.8 45.8 41.9 40.9 41.5 41.9 36.2 34.2 38.6 38.4 31.3 35.4 24.8 24.8 24.2 19.5 18.1 10.0 8.8 7.8 11.4 6.0 5.0 4.8 9.0 8.9 8.8 8.2 8.2 8.0 6.8 5.0 4.4 1.4 -0.3 -5.5 UK Japan Utilities Energy Canada Services Markets Materials Emerging Emerging Financials Industrials Real Estate Real Consumer Consumer Health Care Health Technology Information Discretionary Europe ex UK ex Europe UnitedStates Pacific ex Japanex Pacific Communication Communication Consumer Staples Consumer Source: FactSet. Region performance based on MSCI regional/country indexes. Source: FactSet. Sector performance based on MSCI sector classification. The analysis of MSCI All Country World (ex-US) Growth Index constituents are broken out by MSCI defined sectors. Market review as of 30-Jun-21 The global equity market rally continued in Q2 of 2021, helped by the The growing debate around inflation, even if transitory, is likely to increase further reopening of economies and expanding vaccinations despite the volatility in the market as short-term investors try to switchfrom growthto spread of COVID variants around the world. value and vice versa based on near-term news. Investors’ focus has begun to shift from the post-pandemic recovery to longer-term earnings growth. 3 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS International Growth Fund 3 PRPEQ-FGF-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 Consumer Staples 16.2 11.4 Materials 10.3 7.8 33.68 Financials 10.1 7.9 31.10 Top underweights Information Technology 13.6 18.5 Communication Services 3.9 7.2 Consumer Discretionary 14.4 17.1 ^^ MSCI All Country World (ex-US) Growth Index 14.08 13.37 13.23 12.74 The Global Industry Classification Standard (GICS®) was developed by 8.16 7.28 7.77 6.52 7.01 6.60 and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities 10 year 5 year 3 year 1 year YTD 2Q 2021 that are unclassified by GICS. 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. The MFS International Growth Fund outperformed the MSCI All Country For most recent month-end performance, please visit mfs.com. World (ex-US) Growth Index in the second quarter of 2021. Performance results reflect any applicable expense subsidies and waivers in effect during the Contributors Detractors periods shown. Without such subsidies and waivers the fund's performance results would be less • Consumer Discretionary – Stock • Financials – Stock selection favorable. All results assume the reinvestment of dividends and capital gains. selection •Individual stocks: Shares are available without a sales charge to eligible investors. • Consumer Staples – Stock - Canadian National Railway For periods of less than one-year returns are not annualized. selection and an overweight - Flutter Entertainment PLC Source for benchmark performance SPAR, FactSet Research Systems Inc. position - Shopify Inc (not held) ^ MSCI All Country World (ex-US) Growth Index (net div) •Individual stocks: - Hitachi Ltd - SAP AG - Roche Holding Ltd 4 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS International Growth Fund 4 PRPEQ-FGF-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 9.03 10.16 -1.13 4Q 2020 11.58 13.92 -2.34 1Q 2021 0.70 -0.08 0.78 2Q 2021 7.01 6.60 0.41 2016 2.79 0.12 2.67 2017 32.58 32.01 0.57 2018 -8.79 -14.43 5.64 2019 27.31 27.34 -0.03 2020 15.82 22.20 -6.38 2021 YTD 7.77 6.52 1.24 10 year 8.16 7.28 0.89 5 year 14.08 13.37 0.72 3 year 12.74 13.23 -0.49 1 year 31.10 33.68 -2.58 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. 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. ^ MSCI All Country World (ex-US) Growth Index (net div) 5 FOR DEALER AND INSTITUTIONAL USE ONLY. - MFS International Growth Fund 5 PRPEQ-FGF-30-Jun-21 Performance Drivers - Sectors Average Relative Relative to MSCI All Country World (ex-US) Portfolio Benchmark Sector Stock Currency relative + + = contribution Growth Index (USD) - second quarter 2021 returns (%) returns (%) allocation1 (%) selection2 (%) effect (%) weighting (%) (%) Contributors Consumer Discretionary -2.7 7.3 4.4 0.1 0.4 0.0 0.5 Consumer Staples 6.4 9.4 8.2 0.1 0.2 -0.0 0.3 Materials 2.5 10.0 8.2 0.0 0.3 -0.0 0.2 Communication Services -3.5 2.9 1.4 0.2 0.0 0.0 0.2 Industrials 1.6 6.3 5.0 -0.0 0.2 -0.0 0.2 Utilities -0.3 10.0 -5.5 0.0 0.1 -0.0 0.1 Detractors Financials 1.3 2.4 8.9 0.0 -0.5 -0.1 -0.6 Energy -0.4 -0.8 8.8 -0.0 -0.1 -0.0 -0.2 Cash 2.1 0.0 – -0.1 – -0.0 -0.2 Information Technology -5.5 7.3 8.0 -0.0 -0.2 0.1 -0.1 Health Care -0.4 11.0 11.4 0.0 -0.2 0.1 -0.0 Real Estate -1.0 – 9.0 -0.0 – 0.0 -0.0 Total 7.3 6.7 0.2 0.3 0.0 0.6 1 Sector allocation is calculated based upon each security's price in local currency.
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  • 2010 Sustainability Report Strategy

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    2010 Sustainability Report Strategy 8 14 KEY SOCIAL THE STRATEGY TOPICS IN ACTION: 4 2010 RESULTS FRANCK FOCUS ON THE RIBOUD FOUR STRATEGIC INTERVIEW PRIORITIES / Health / For All 80 / Nature MEASURING / People PROGRESS AND PERFORMANCE THROUGHOUT THE VALUE CHAIN / Danone Way 67 / Respect DASHBOARD: / Danone’s evaluation by 2010 STAKEHOLDER social responsibility COmmITMENTS rating agencies AND OUTLOOK 92 108 A SOCIAL HISTORICAL APPROACH BUILT APPROACH ON DANONE’S AND UNIQUE FEATURE HIGHLIGHTS / Social integration tools in the company’s business / Stakeholders at the heart of the dialogue / Corporate governance / Nutrition and Health governance 2 - Danone Sustainability Report 2010 This translation is for information only. Performance 114 GRI INDEX(*) (*) Self-evaluation of the application of GRI according to version 3.0 guidelines for the GRI with approval by KPMG Audit. 124 VALIDATION OF THE 140 REPORT BY PERFORMANCE AN EXTERNAL INDICATORS THIRD PARTY / Governance, Commitments and Engagement / Economic / Environmental / Social / Human Rights / Society / Product responsibility 128 UPSTREAM AND DOWNSTREAM 132 IMPACTS AND COMPANY RESPONSIBILITIES PROFILE AND REPORT PARAMETERS Danone Sustainability Report 2010 - 3 2010 REPORT SUSTAINABILITY The “dual economic and social project” that is the Franck Riboud foundation of the Danone way of doing business is almost forty years old. What still makes it timely interview today? Franck Riboud: this “dual project” was born of a simple “My vision fact that remains just as true today: a company cannot succeed in the long run if it turns its back on the society it for Danone: is a part of, if it only looks to its short-term economic gain. Danone’s founder understood very quickly that a company creating economic value and social value are both essential that creates to a company’s solidity.