Harbor International Fund CHARACTERISTICS & ALLOCATION As of 06/30/2021 Marathon Asset Management LLP Portfolio Characteristics Economic Sectors Subadviser Since 08/22/2018 Portfolio Benchmark Portfolio % Benchmark % Number of Holdings 392 845 Industrials 22.40 15.46 Wtd Avg Market Cap ($Mil) 48,259.90 79,708.60 Financials 15.92 16.94 Med Cap - # Stocks ($Mil) 9,806.00 14,082.00 Consumer Discretionary 15.28 12.99 Total Net Assets - All Classes $4,812,053,474 Price/Book Ratio 2.49 2.79 Health Care 10.14 12.45 Equity Assets: 98.67% Adjusted Trailing P/E Ratio 26.10 26.00 Consumer Staples 9.31 10.49 Cash & Other Assets Less Liabilities: 1.33% % EPS Growth - Past 3 Yr 1.80 2.00 Materials 7.78 7.93 Benchmark Name: MSCI EAFE (ND) Index Return on Equity (%) 8.57 10.33 Communication Services 7.26 4.88 Beta vs. Fund Benchmark 1.04 Information Technology 6.43 9.14 Forecasted P/E Ratio 18.90 19.80 Energy 3.19 3.21 Proj. Earnings Growth Rate (%) 17.30 15.80 Utilities 0.54 3.44 Portfolio Managers Real Estate 0.42 3.02

Top 10 Holdings Top 10 Countries Neil M. Ostrer Charles Carter Nick Longhurst William J. Arah Portfolio % Benchmark % Portfolio % Benchmark % Simon Somerville Michael Nickson, CFA Justin Hill Alex Duffy Roche Holding Ltd 1.75 1.56 United Kingdom 25.10 14.38 BP p.l.c. 1.63 0.52 Japan 21.90 23.21 Hitachi,Ltd. 1.62 0.33 France 7.73 11.53 Vestas Wind Systems A/S 1.41 0.23 Germany 6.11 9.46 Novo Nordisk A/S Class 1.32 0.85 Denmark 6.10 2.58 HelloFresh SE 1.23 0.09 Switzerland 5.99 9.79 Investment Philosophy Barclays PLC 1.12 0.24 Australia 3.92 7.13 The Fund invests primarily in common and preferred Flutter Entertainment P 1.04 0.00 Netherlands 3.25 4.34 stocks of foreign companies, including limited exposure Toyota Motor Corp. 1.03 1.10 Sweden 2.81 3.76 to those in emerging market countries. The portfolio Intertek Group plc 1.02 0.07 Italy 2.39 2.47 manager focuses on identifying long-term investment Total 13.17 4.99 Total 85.30 88.65 opportunities that can arise as a result of certain capital Emerging Markets 5.20 0.00 cycle, or supply-side, conditions. Capital cycle investing is based on the concept that the prospect of high returns Top 10 Industries Market Capitalization will attract excessive capital and competition, and vice versa. The portfolio manager uses fundamental, bottom- Portfolio % Benchmark % Portfolio % up qualitative analysis. Research meetings with company Banks 8.16 8.46 Large Above 25.0B 46.40 management represent the majority of analytical effort Insurance 4.78 4.82 10.0B - 25.0B 24.73 conducted. The Fund typically invests in between 350 to Hotels Rest & Leisure 4.54 1.50 Mid 5.0B - 10.0B 11.29 450 companies across Europe, Japan, the Pacific Basin Health Care Equip 4.39 2.24 1.0B - 5.0B 16.54 and a limited allocation to emerging markets. While Professional Services 4.33 1.61 Small 0.0 - 1.0B 1.04 inherently diversified, a bias towards smaller and mid cap Beverages 3.83 2.14 businesses in niche industries, coupled with a particularly Pharmaceuticals 3.73 8.10 long holding period, result in a portfolio that is Metals & Mining 3.53 3.30 significantly differentiated from the Fund's benchmark Electrical Equipment 3.46 1.93 index. Machinery 3.01 3.20 Total 43.76 37.30 Harbor International Fund PERFORMANCE As of 06/30/2021

Performance & Fund Facts Gross Since Net Expense Share Class Tick er CUSIP 3 Months YTD 1 Yr. 3 Yr. 5 Yr. 10 Yr. Inception Date Expense Inception Ratio % Ratio %

Institutional HAINX 411511306 4.61% 9.60% 41.03% 7.44% 8.81% 4.70% 10.29% 12/29/87 0.77 0.89

Administrative HRINX 411511652 4.56% 9.45% 40.68% 7.18% 8.54% 4.44% 8.85% 11/01/02 1.02 1.14

Investor HIINX 411511645 4.53% 9.38% 40.49% 7.05% 8.41% 4.31% 8.70% 11/01/02 1.13 1.25

Retirement HNINX 411512445 4.63% 9.64% 41.15% 7.53% 8.89% 4.74% 10.30% 03/01/16 0.69 0.81 MSCI EAFE (ND) Index 5.17% 8.83% 32.35% 8.27% 10.28% 5.89% 5.64% 12/29/87

MANAGER COMMENTARY As of 06/30/2021 “While there are still risks associated with the virus, the market appears to be cautiously optimistic.” Marathon Asset Management LLP (Marathon-London)

Mark et in Review During the second quarter of 2021, the mood changed regarding inflation, as the U.S. Federal Reserve (“Fed”) signalled that it expects to hike interest rates in 2023. This change in the Fed’s previously dovish tone comes earlier than forecast. Reasons for the change include new economic projections predicated on stronger economic recovery, faster growth, lower unemployment, and consequently, higher inflation.

In the short term, this has caused some turbulence for investors who had only recently begun investing their money in assets that tend to perform well when prices rise, such as commodities and value stocks. Until April 2021, they had been performing particularly well following the vaccine rollout.

The Fund has historically demonstrated a bias towards smaller capitalization companies with a weighted average market cap persistently below that of the benchmark. Some small- and mid-cap stocks were subjects of the “reflation trade,” and therefore, were at the whims of the market as investor momentum eased following the Fed’s pivot to a more hawkish tone. Being overweight to smaller companies, therefore, negatively impacted the Fund – at least in the short term.

Marathon-London recognizes that macro-level events in the short term will temporarily affect relative performance. We continue, however, to stand by our bottom-up stock selection approach, focusing on the fundamentals and economics of the businesses we invest in.

Retirement Class shares commenced operations on March 1, 2016. The performance attributed to the Retirement Class shares prior to that date is that of the Institutional Class shares. Performance prior to March 1, 2016 has not been adjusted to reflect the lower expenses of Retirement Class shares. During this period, Retirement Class shares would have had returns similar to, but somewhat higher than, Institutional Class shares due to the fact that Retirement Class shares represent interests in the same portfolio as Institutional Class shares but are subject to lower expenses. Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborfunds.com or by calling 800-422-1050. Harbor International Fund MANAGER COMMENTARY As of 06/30/2021

Portfolio Performance During the quarter, the Harbor International Fund (Institutional Class, “Fund”) returned 4.61% underperforming its benchmark, the MSCI EAFE (ND) Index (“Index”), which returned 5.17%.

Stock selection in Europe, particularly within the U.K., Ireland, and Denmark, detracted most from the Fund’s relative performance. Also, within Europe, the Fund’s underweight to Switzerland and France (two markets which outperformed the Index) detracted from the Fund’s relative performance. However, this was more than offset by the overweight allocation to Denmark, another market which performed strongly.

The Fund’s limited out-of-benchmark allocation to Asian emerging markets detracted from relative returns, as several emerging market countries underperformed the broader Index. Equally, stock selection within emerging markets in India and Taiwan also detracted from relative performance.

Contributors & Detractors Flutter Entertainment, the U.K.-based international sports betting and gaming company, underperformed during the quarter, detracting from relative performance. Most of the fall occurred in the wake of the company’s Annual General Meeting and results announcements. While results were solid as the share price traded at high multiples – above consensus expectations – we believe it’s possible the news was already discounted by the market as some investors chose to take profits.

HomeServe, the U.K.-based subscription home repair business, had a poor quarter, which detracted from relative returns. Despite earnings meeting expectations and improved guidance for the year ahead, investors reacted negatively to the falling number of U.K. clients subscribing to the company’s products.

HelloFresh, the German-listed meal kit service, contributed to the Fund’s relative performance. After a pause in the first quarter, the company resumed its long-standing upward trajectory. A few announcements indicated improving revenues and growing subscriber numbers (especially in the U.S.), as several brokers have increased price targets.

Hitachi also contributed to relative returns. The Japanese industrial and technology conglomerate, and Marathon’s largest position in the Japanese market, performed strongly during the quarter. The company announced several acquisitions and disposals, as well as improved earnings forecasts for the year ahead.

Buys & Sells Within Europe, a position was initiated in Holcim, the world’s largest cement company, during the quarter. Following implementation of a post-merger empire-building strategy, new management is rationalizing the group, focusing on the less competitive cement markets, and on diversifying into higher- margin building materials. The company’s focus has moved from top-line growth to return on invested capital and free cash flow.

Asaleo, an Australian personal care and hygiene company, was acquired by a Swedish competitor, Essity, at a 40% premium, which was reflected in December’s results.

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborfunds.com or by calling 800-422-1050. Harbor International Fund MANAGER COMMENTARY As of 06/30/2021

Country Allocation There were neither material country-allocation nor exposure-to-developing-markets changes during the quarter. Please note, trading to account for the recent portfolio manager changes did not begin until July 2021. Thus, any changes to the country and developing market allocations will be reflected in the reporting for the third quarter of 2021.

Outlook Forward-looking expectations can behave erratically in a pandemic, which is why Marathon does not engage in economic forecasting. Instead, we comment on the market environment across the Fund.

European markets rose again during the quarter, gaining 7.4% based on the Index, with the gradual lifting of COVID-19 restrictions. While there are still risks associated with the virus, the market appears to be cautiously optimistic. In contrast to the previous six months, the Health Care and Real Estate sectors were the strongest performers. Energy and Financials (typically “value” sectors) moved to the bottom of the performance table alongside Utilities. Cyclicals lost some of their luster, while defensive sectors made up some ground during the quarter.

Meanwhile, Japanese equities declined slightly over the second quarter, with the Tokyo Stock Price Index (“TOPIX”) falling by 0.8% and the broader Nikkei 225 by 1.6% over the quarter in U.S. dollar terms. The fall reflects a substantial downgrading of Gross Domestic Product (“GDP”) growth expectations for the quarter and for at least the rest of the year. This change reflects renewed COVID-19 safety measures to control another wave of cases across the country and the decision to limit visitors to the Tokyo Olympic games to domestic audiences only.

The Pacific ex-Japan region posted a positive return of 4.8% during the quarter, based on the MSCI Pacific ex Japan Index, in U.S. dollar terms. Returns were highly differentiated, however, with Australia performing strongly, Hong Kong less so, Singapore close to flat, and New Zealand lagging once again, producing a negative return over the quarter.

Asian emerging markets, based on the MSCI Emerging Markets (ND) Index, were sluggish during the quarter, returning 3.8% on average. Though not the worst-performing market, returns were mostly impacted by China, which returned 2.27%.

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborfunds.com or by calling 800-422-1050. Harbor International Fund Harbor International Fund QUARTERLY ATTRIBUTION As of 06/30/2021

Best & Worst Performers Contributors & Detractors

Best Performers Average Weight % Return % Greatest Contributors Return % Contribution to Return %

Sonova Holding AG 0.35 42.40 Hitachi,Ltd. 26.56 0.33 Fluidra, S.A. 0.46 38.61 HelloFresh SE 30.06 0.29 Getinge AB Class B 0.27 36.72 Novo Nordisk A/S Class B 23.38 0.26 Demant A/S 0.64 32.58 Roche Holding Ltd 16.18 0.24 HelloFresh SE 1.14 30.06 Demant A/S 32.58 0.18 Total 1.30

Worst Performers Average Weight % Return % Greatest Detractors Return % Contribution to Return %

HomeServe plc 0.67 -20.34 Flutter Entertainment Plc -15.11 -0.19 Taiheiyo Cement Corporation 0.36 -16.65 HomeServe plc -20.34 -0.16 Flutter Entertainment Plc 1.17 -15.11 Barclays PLC -7.84 -0.09 Obayashi Corporation 0.38 -13.39 Orsted 0.54 -13.32 SSP Group Plc -12.28 -0.09 Orsted -13.32 -0.08 Total -0.61

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborfunds.com or by calling 800-422-1050. Harbor International Fund ATTRIBUTION As of 06/30/2021

Quarterly Attribution: Harbor International Fund vs. MSCI EAFE (ND) Index 03/31/2021 - 06/30/2021 Performance Portfolio Benchmark Active Return ex Currency 4.19 4.79 -0.60 Currency Contribution 0.34 0.38 -0.04 Total Return 4.53 5.17 -0.64

Sector Attribution Average Weight Total Return Contribution to Return Attribution Analysis Bench. Variation in Avg. Bench. Total Variation in Total Port. Contribution Contribution To Port. Avg. Wgt. Bench. Avg. Wgt. Wgt. Port. Total Return Return Return To Return Return Allocation Effect Selection Effect Total Effect Health Care 9.88 12.00 -2.12 13.92 9.30 4.63 1.28 1.06 -0.09 0.41 0.33 Industrials 22.78 15.60 7.18 4.95 3.73 1.22 1.15 0.60 -0.10 0.27 0.17 Communication Services 7.41 5.09 2.31 3.29 0.27 3.03 0.25 0.03 -0.11 0.21 0.11 Utilities 0.60 3.59 -2.99 -13.31 -1.31 -12.00 -0.09 -0.03 0.18 -0.09 0.10 Energy 3.17 3.23 -0.06 3.41 2.93 0.48 0.11 0.10 0.00 0.01 0.01 Real Estate 0.43 3.06 -2.63 -2.98 5.30 -8.28 -0.01 0.16 0.00 -0.04 -0.04 Consumer Discretionary 15.34 12.86 2.48 4.40 5.47 -1.07 0.66 0.69 0.00 -0.16 -0.16 Consumer Staples 9.31 10.39 -1.08 6.79 8.46 -1.66 0.62 0.85 -0.03 -0.15 -0.18 Materials 7.71 8.06 -0.34 1.83 5.08 -3.25 0.11 0.42 -0.03 -0.24 -0.28 Financials 15.98 17.29 -1.31 1.30 3.19 -1.89 0.22 0.59 0.01 -0.29 -0.28 Information Technology 6.42 8.84 -2.42 3.62 8.23 -4.62 0.22 0.71 -0.08 -0.30 -0.37 [Cash] 0.97 0.00 0.97 0.19 0.00 0.19 0.00 0.00 -0.05 0.00 -0.05

Total 100.00 100.00 0.00 4.53 5.17 -0.64 4.53 5.17 -0.28 -0.36 -0.64 Harbor International Fund ATTRIBUTION As of 06/30/2021

Quarterly Attribution: TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE Harbor International Fund vs. MSCI EAFE (ND) Index 03/31/2021 - 06/30/2021 Country Attribution Average Weight Total Return Contribution to Return Attribution Analysis Bench. Variation in Avg. Bench. Total Variation in Total Port. Contribution Contribution To Port. Avg. Wgt. Bench. Avg. Wgt. Wgt. Port. Total Return Return Return To Return Return Allocation Effect Selection Effect Total Effect Germany 6.03 9.48 -3.45 10.63 4.70 5.93 0.61 0.46 0.01 0.33 0.34 Italy 2.33 2.49 -0.16 8.68 3.64 5.04 0.19 0.09 0.00 0.11 0.11 Spain 1.61 2.50 -0.89 10.30 5.31 4.99 0.15 0.13 -0.01 0.07 0.06 Japan 22.05 23.66 -1.61 -0.56 -0.28 -0.28 -0.13 -0.09 0.10 -0.06 0.04 Norway 1.28 0.63 0.65 8.57 4.87 3.70 0.11 0.03 0.00 0.05 0.04 Austria 0.72 0.19 0.52 13.38 11.50 1.87 0.09 0.02 0.03 0.01 0.04 Hong Kong 1.39 3.28 -1.90 1.59 2.53 -0.95 0.02 0.09 0.05 -0.02 0.03 Denmark 6.07 2.47 3.60 8.97 13.06 -4.10 0.52 0.30 0.25 -0.22 0.03 New Zealand 0.13 0.25 -0.12 5.24 -5.12 10.36 0.01 -0.01 0.01 0.01 0.02 Ireland 0.79 0.70 0.08 5.71 2.41 3.30 0.05 0.02 0.00 0.03 0.02 Portugal 0.00 0.17 -0.17 0.00 -0.87 0.87 0.00 0.00 0.01 0.00 0.01 Singapore 0.83 1.07 -0.24 -0.29 0.47 -0.76 0.00 0.01 0.01 -0.01 0.00 United States 0.15 0.00 0.15 8.73 0.00 8.73 0.01 0.00 0.00 0.00 0.00 Israel 0.00 0.59 -0.59 0.00 5.09 -5.09 0.00 0.03 0.00 0.00 0.00 Brazil 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Canada 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Colombia 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Mexico 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Philippines 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 South Africa 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Indonesia 0.00 0.00 0.00 -0.91 0.00 -0.91 0.00 0.00 0.00 0.00 0.00 Finland 0.89 1.03 -0.14 11.14 10.83 0.31 0.10 0.11 -0.01 0.00 -0.01 Belgium 0.37 0.96 -0.59 14.84 9.23 5.61 0.05 0.09 -0.02 0.02 -0.01 Malaysia 0.05 0.00 0.05 -6.91 0.00 -6.91 0.00 0.00 -0.01 0.00 -0.01 South Korea 1.26 0.00 1.26 4.16 0.00 4.16 0.05 0.00 -0.01 0.00 -0.01 Sweden 2.93 3.70 -0.77 4.93 5.47 -0.54 0.16 0.20 0.00 -0.02 -0.01 Switzerland 5.52 9.41 -3.89 15.51 11.53 3.98 0.79 1.03 -0.22 0.20 -0.02 Taiwan 1.68 0.00 1.68 4.05 0.00 4.05 0.06 0.00 -0.02 0.00 -0.02 Thailand 0.17 0.00 0.17 -8.41 0.00 -8.41 -0.02 0.00 -0.03 0.00 -0.03 China 1.25 0.00 1.25 2.89 0.00 2.89 0.04 0.00 -0.03 0.00 -0.03 India 0.82 0.00 0.82 -0.49 0.00 -0.49 0.00 0.00 -0.05 0.00 -0.05 Australia 3.97 7.16 -3.19 6.05 6.87 -0.81 0.24 0.48 -0.05 -0.03 -0.08 Netherlands 3.29 4.34 -1.05 5.07 7.30 -2.23 0.17 0.32 -0.02 -0.07 -0.09 France 7.70 11.41 -3.71 8.96 9.07 -0.11 0.67 1.01 -0.13 -0.01 -0.14 United Kingdom 25.75 14.48 11.27 2.10 5.97 -3.87 0.60 0.87 0.11 -0.95 -0.85 [Cash] 0.97 0.00 0.97 0.19 0.00 0.19 0.00 0.00 -0.04 0.00 -0.04

Total 100.00 100.00 0.00 4.53 5.17 -0.64 4.53 5.17 -0.07 -0.57 -0.64 Harbor International Fund ATTRIBUTION As of 06/30/2021

Trailing 1 Year Attribution: Harbor International Fund vs. MSCI EAFE (ND) Index 06/30/2020 - 06/30/2021 Performance Portfolio Benchmark Active Return ex Currency 33.52 27.08 6.43 Currency Contribution 6.58 5.27 1.32 Total Return 40.10 32.35 7.75

Sector Attribution Average Weight Total Return Contribution to Return Attribution Analysis Bench. Variation in Avg. Bench. Total Variation in Total Port. Contribution Contribution To Port. Avg. Wgt. Bench. Avg. Wgt. Wgt. Port. Total Return Return Return To Return Return Allocation Effect Selection Effect Total Effect Health Care 11.10 13.03 -1.92 28.80 12.32 16.48 3.18 1.63 0.39 1.84 2.23 Industrials 23.85 15.45 8.40 44.36 39.94 4.43 10.60 6.09 0.76 0.87 1.63 Consumer Discretionary 14.66 12.30 2.37 55.11 49.83 5.28 7.54 5.73 0.37 0.63 1.00 Communication Services 7.98 5.29 2.69 39.94 26.07 13.87 3.34 1.45 -0.08 1.06 0.98 Utilities 0.78 3.85 -3.07 16.14 12.21 3.93 0.30 0.63 0.56 0.17 0.73 Information Technology 6.94 8.53 -1.59 49.46 39.59 9.86 3.39 3.16 -0.06 0.71 0.65 Consumer Staples 10.12 11.02 -0.90 18.47 17.92 0.55 2.09 2.06 0.14 0.15 0.28 Financials 13.84 16.50 -2.66 43.89 40.21 3.68 5.72 6.42 -0.18 0.41 0.23 Real Estate 0.41 3.08 -2.67 22.77 27.61 -4.84 0.10 0.86 0.16 0.01 0.17 Energy 2.60 3.14 -0.54 25.96 29.92 -3.96 0.79 0.89 0.17 -0.01 0.16 Materials 6.70 7.82 -1.12 51.08 47.16 3.92 3.04 3.43 -0.18 0.19 0.01 [Cash] 1.01 0.00 1.01 2.01 0.00 2.01 0.01 0.00 -0.31 0.00 -0.31

Total 100.00 100.00 0.00 40.10 32.35 7.75 40.10 32.35 1.73 6.02 7.75 Harbor International Fund ATTRIBUTION As of 06/30/2021

Trailing 1 Year Attribution: Harbor International Fund vs. MSCI EAFE (ND) Index 06/30/2020 - 06/30/2021 Country Attribution Average Weight Total Return Contribution to Return Attribution Analysis Bench. Variation in Avg. Bench. Total Variation in Total Port. Contribution Contribution To Port. Avg. Wgt. Bench. Avg. Wgt. Wgt. Port. Total Return Return Return To Return Return Allocation Effect Selection Effect Total Effect United Kingdom 24.70 14.01 10.69 40.75 31.29 9.46 10.12 4.35 -0.02 2.23 2.20 Switzerland 5.46 9.76 -4.30 41.94 24.32 17.61 2.18 2.38 0.41 0.86 1.27 Denmark 7.04 2.46 4.58 49.47 44.17 5.29 3.72 1.04 0.50 0.63 1.12 Germany 6.15 9.41 -3.26 48.36 31.79 16.57 2.80 2.98 0.02 0.79 0.81 France 7.37 11.02 -3.65 54.44 40.79 13.65 3.76 4.37 -0.26 0.83 0.57 Taiwan 1.82 0.00 1.82 67.07 0.00 67.07 1.14 0.00 0.55 0.00 0.55 South Korea 1.73 0.00 1.73 61.17 0.00 61.17 1.09 0.00 0.49 0.00 0.49 Italy 2.02 2.38 -0.36 66.91 36.64 30.26 1.22 0.87 0.01 0.47 0.48 China 1.43 0.00 1.43 59.44 0.00 59.44 0.84 0.00 0.37 0.00 0.37 Spain 1.18 2.41 -1.23 62.00 30.67 31.33 0.62 0.77 0.02 0.29 0.32 Norway 1.19 0.59 0.60 69.32 49.64 19.69 0.71 0.26 0.09 0.19 0.28 Hong Kong 1.11 3.33 -2.22 39.62 28.95 10.67 0.40 0.96 0.09 0.12 0.21 Ireland 0.51 0.70 -0.19 104.69 39.58 65.11 0.38 0.28 -0.03 0.22 0.20 Austria 0.66 0.18 0.48 74.11 70.89 3.22 0.41 0.11 0.15 0.02 0.18 New Zealand 0.10 0.29 -0.19 103.12 -5.02 108.14 0.07 0.00 0.08 0.09 0.17 Finland 0.91 1.04 -0.13 45.99 34.70 11.30 0.41 0.35 0.02 0.10 0.11 Belgium 0.38 0.96 -0.59 47.25 28.50 18.75 0.18 0.28 0.03 0.08 0.11 Israel 0.00 0.61 -0.61 0.00 22.46 -22.46 0.00 0.14 0.07 0.00 0.07 India 0.82 0.00 0.82 37.31 0.00 37.31 0.33 0.00 0.06 0.00 0.06 Singapore 0.55 1.07 -0.52 29.50 28.68 0.82 0.14 0.30 0.04 0.01 0.05 Portugal 0.00 0.17 -0.17 0.00 11.43 -11.43 0.00 0.02 0.05 0.00 0.05 Thailand 0.22 0.00 0.22 31.02 0.00 31.02 0.09 0.00 0.03 0.00 0.03 Philippines 0.05 0.00 0.05 13.19 0.00 13.19 0.03 0.00 0.02 0.00 0.02 United States 0.16 0.00 0.16 37.96 0.00 37.96 0.06 0.00 0.02 0.00 0.02 Indonesia 0.08 0.00 0.08 9.17 0.00 9.17 0.04 0.00 0.02 0.00 0.02 Malaysia 0.05 0.00 0.05 11.03 0.00 11.03 0.01 0.00 0.00 0.00 0.00 Brazil 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Canada 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Colombia 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Mexico 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 South Africa 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Sweden 2.98 3.44 -0.46 42.95 53.85 -10.90 1.28 1.69 -0.03 -0.26 -0.30 Australia 3.46 6.99 -3.53 34.74 39.64 -4.89 1.15 2.64 -0.22 -0.11 -0.33 Japan 23.50 24.93 -1.43 22.84 24.84 -2.00 5.89 6.59 0.15 -0.54 -0.39 Netherlands 3.40 4.27 -0.87 28.12 49.62 -21.50 1.02 1.97 -0.08 -0.60 -0.68 [Cash] 1.01 0.00 1.01 2.01 0.00 2.01 0.01 0.00 -0.33 0.00 -0.33

Total 100.00 100.00 0.00 40.10 32.35 7.75 40.10 32.35 2.33 5.41 7.75 Harbor International Fund RISKS & DISCLOSURES

Risk s There is no guarantee that the investment objective of the Fund will be achieved. Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Investing in international and emerging markets poses special risks, including potentially greater price volatility due to social, political and economic factors, as well as currency exchange rate fluctuations. These risks are more severe for securities of issuers in emerging market regions. Stocks of small and mid cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies. Marathon-London's assessment of the capital cycle for a particular industry or company may be incorrect. Investing in companies at inopportune phases of the capital cycle can result in the Fund purchasing company stock at pricing levels that are higher than the market dynamics would support and therefore subject the Fund to greater risk that the stock price would decline rather than increase over time.

Disclosures The MSCI EAFE (ND) Index is an unmanaged index generally representative of major overseas stock markets. This unmanaged index does not reflect fees and expenses and is not available for direct investment. Expense ratio information is as of the Fund’s current prospectus, as supplemented. Gross expenses are the Fund’s total annual operating expenses. The net expense ratios for this fund are subject to a contractual management fee waiver and/or expense limitation agreement, excluding interest expense and acquired fund fees and expenses (if any), through 02/28/2022. All holdings-related data is provided by FactSet. Because FactSet relies on external sources for its data, that data may differ slightly from actual values maintained by Harbor Funds. Due to the security valuation procedures of the Fund and intra-day trading activity not included in the FactSet calculations, the actual returns may vary. From time to time the cash return in the portfolio may appear distorted based on the way FactSet’s attribution calculation methodology addresses delayed settlements. Beta is a rolling three year, unless the Fund has a track record of less than three years, in which case it is a rolling one year. The mean/median long term growth rate for Projected Earnings Growth Rate is the expected growth over the next 3-5 years calculated by FactSet from data provided by brokers. The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS. The Forecast P/E Ratio is the closing stock price divided by the sum of the next 4 quarters estimated EPS. All P/E, ROE and P/B statistics are calculated as weighted medians. Best and Worst Performers sections reflect stocks in the portfolio for the quarter with an average weight of 0.25% or greater. Views expressed herein are drawn from commentary provided to Harbor by the subadviser and may not be reflective of their current opinions or future actions, are subject to change without prior notice, and should not be considered investment advice. This information should not be considered as a recommendation to purchase or sell a particular security. The weightings, holdings, industries, sectors, countries, and returns mentioned may change at any time and may not represent current or future investments. As a result of changing market conditions, total net asset levels, expenses and other statistics may change at any time and may differ from those shown. The total amount shown for sector, industries, or country holdings may be greater than 100% because of the inclusion of derivatives and the collateral securities supporting those instruments. Sector allocations are determined using the Global Industry Classification Standard (GICS), which is a service of Morgan Stanley Capital International (MSCI) and Standard & Poor's (S&P). Investors should carefully consider the investment objectives, risks, charges and expenses of a Harbor fund before investing. To obtain a summary prospectus or prospectus for this and other information, visit harborfunds.com or call 800-422-1050. Read it carefully before investing. Marathon Asset Management LLP is an independent subadviser to the Harbor International Fund. Distributed by Harbor Funds Distributors, Inc. HARBOR FUNDS and the Lighthouse Design are Reg. U.S. Pat. & Tm. Off. Harbor International Fund RISKS & DISCLOSURES

Attribution Disclosures Linked Performance by Sectors data is produced from FactSet using data supplied by State Street Bank and Trust Company. Allocation Effect is the portion of portfolio excess return that is attributable to taking different group bets from the benchmark. (If either the portfolio or the benchmark has no position in a given group, allocation effect is the lone effect.) A group's allocation effect equals the average percent capitalization of the portfolio's group minus the average percent cap of the benchmark's group times the total return of the benchmark group minus the total return of the benchmark. Active Currency Contribution is the Currency Contribution of the portfolio minus the Currency Contribution of the benchmark. Average Weight is the dollar value (price times the shares held) of the security or group, divided by the total dollar value of the entire portfolio displayed as a percentage. It is calculated as the simple arithmetic average of daily values. Contribution to Return is the contribution of a security or group to the overall portfolio return. It is calculated as the security weight multiplied by the daily security return linked daily across the reporting period. Currency Contribution is Total Return in USD subtracting out the Local Returns. Local Returns are the Total Return of the portfolio or benchmark using the local currency. Selection Effect is the portion of portfolio excess return attributable to choosing different securities within groups from the benchmark. A group's security selection effect equals the average weight of the benchmark's group times the total return of the portfolio's group minus the total return of the benchmark's group. Total Effect is the sum of Allocation Effect and Selection Effect. The total effect represents the opportunity cost of what was done in a group relative to the overall portfolio. It is not just the difference between percent contribution in the portfolio and benchmark. At the overall portfolio level, the two numbers are equal. At the group level, they can be different. Total Return is the price change of a security or group including dividends accrued over the report period (or the in-portfolio return) which includes only the time period that each security was in the portfolio.

Definitions Beta is a measure of systematic risk, or the sensitivity of a fund to movements in the benchmark. A beta of 1 implies that the expected movement of a fund's return would match that of the benchmark used to measure beta.

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