Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print MFS® VIT New Discovery Init Release date as of 2024-03-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2024-03-31 Out of 552 Small Growth Funds Morningstar® Style Box™ What is this? As of 2024-02-29 Total Fund Assets ($ Mil) 736.69 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks capital appreciation. The fund normally invests its assets primarily in equity securities. Equity securities include common stocks and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. While it may invest the fund's assets in securities of companies of any size, the fund primarily invests in securities of companies with small capitalizations. It may invest its assets in foreign securities.

Morningstar Category: Small Growth Small-growth portfolios focus on faster-growing companies whose shares are at the lower end of the market-capitalization range. These portfolios tend to favor companies in up-and-coming industries or young firms in their early growth stages. Because these businesses are fast-growing and often richly valued, their stocks tend to be volatile. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields).

Investment Risks Small Cap Funds: Smaller companies typically have higher risk of failure, and are not as well established as larger blue-chip companies. Historically, the smaller company stocks have experienced a greater degree of market volatility than the overall market average.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 82.2 Non-U.S. Stocks 13.3 Bonds 0.0 Cash 4.5 Other 0.0 Data through 2024-02-29 Morningstar Equity Sectors % of Stocks Cyclical 17.87 Basic Materials 3.38 Consumer Cyclical 9.57 Financial Services 2.87 Real Estate 2.05 Sensitive 55.00 Communication Services 2.25 Energy 5.43 Industrials 19.93 Technology 27.39 Defensive 27.14 Consumer Defensive 5.72 Healthcare 21.42 Utilities 0.00 Data through 2024-02-29 Holding Status Total Number of Stock Holdings 112 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 18.00 Turnover % (as of 2023-12-31) 61.00 30 Day SEC Yield % --- Top Holdings Sector P/E % of Net Assets RB Global Inc --- 2.04 Summit Materials Inc Class A 18.65 2.00 GFL Environmental Inc --- 1.85 Jacobs Solutions Inc 27.40 1.81 nVent Electric PLC --- 1.80 KBR Inc --- 1.75 CACI International Inc Class A 22.97 1.74 Crane Co 38.17 1.71 Onto Innovation Inc 73.61 1.68 US Foods Holding Corp 26.72 1.62 Data through 2024-02-29

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Growth Investing, Issuer, Market/Market Volatility, Equity Securities, Restricted/Illiquid Securities, Shareholder Activity, Management, Portfolio Diversification, Small Cap Show Risk Definitions

Other Information Inception Date: 1998-05-01 Portfolio Manager(s) Michael S. Grossman   (2013-12-31) - Equity Portfolio Manager - Investment Officer - As an Equity Portfolio Manager, responsible for final buy and sell decisions, portfolio construction and risk and cash management. Participates in the research process and strategy discussions., . - Joined MFS in 2005; previous positions include Equity Research Analyst. - Previous experience includes 3 years as Equity Research Analyst at Essex Investment Management Co., LLC; 3 years as Investment Associate/Global Equity Research at Putnam Investments;. - Affiliations include CFA Institute, CFA Society of Boston,. - Boston College, MBA, Beta Gamma Sigma Society (top 10%) - University of Pennsylvania, BA, with distinction Investment Advisor(s) Massachusetts Financial Services Company Issuer MFS Subadvisor(s) ---

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