Investor Presentaiton

Disciplined Investment Approach Investment Objective Seeks capital appreciation Goals ■ Outperform the S&P 500 on a risk-adjusted basis over full market cycles ■ Achieve a competitive ranking in relevant peer universes over full market cycles Philosophy ■ The tenets of our investment philosophy are based upon the following beliefs: Earnings/cash flow growth combined with a valuation discipline are the most important drivers of stock price performance • Quality is underappreciated by the market Strategy MFS® ■ We leverage our bottom-up, global research platform to try to identify reasonably valued, high quality, large-cap companies that could generate durable above average growth. ■ Our valuation approach is flexible, focusing on multiple valuation methodologies with an emphasis placed on the most appropriate metrics for that particular company ■ We focus on downside risk management at the individual security level FOR DEALER AND INSTITUTIONAL USE ONLY. - Massachusetts Investors Trust PRPEQ-MIT-31-Mar-24 2

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