Massachusetts Investors Trust Portfolio Overview

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 Risk 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 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, and other conditions. Please see the prospectus for further information on these and other risk considerations. Focus on quality, durable growth, and valuation 4 FOR INVESTMENT PROFESSIONAL USE ONLY. Not intended for retail investors. - Massachusetts Investors Trust MIT-RF-MT-USD-US-1Q24.4

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