MFS Series Trust Xiii N-CSR Certified annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-3327

______________________

MFS SERIES TRUST XIII

______________________

(Exact name of registrant as specified in charter)

111 Huntington Avenue, Boston, Massachusetts 02199

______________________

(Address of principal executive offices) (Zip code)

Christopher R. Bohane

Massachusetts Financial Services Company

111 Huntington Avenue

Boston, Massachusetts 02199

______________________

(Name and address of agents for service)

Registrant's telephone number, including area code: (617) 954-5000

______________________

Date of fiscal year end: August 31*

______________________

Date of reporting period: August 31, 2022

______________________

*This Form N-CSR pertains only to the following series of the Registrant: MFS Global Real Estate Fund. The remaining series of the Registrant have a fiscal year end other than August 31.

ITEM 1. REPORTS TO STOCKHOLDERS.

Item 1(a):

Annual Report

August 31, 2022

MFS^®Global Real
Estate Fund

GRE-ANN

MFS^® Global Real
Estate Fund

CONTENTS

Letter from the Chair and CEO	1
Portfolio composition	2
Management review	4
Performance summary	7
Expense table	10
Portfolio of investments	12
Statement of assets and liabilities	15
Statement of operations	17
Statements of changes in net assets	18
Financial highlights	19
Notes to financial statements	25
Report of independent registered public accounting firm	37
Trustees and officers	39
Board review of investment advisory agreement	43
Statement regarding liquidity risk management program	47
Proxy voting policies and information	48
Quarterly portfolio disclosure	48
Further information	48
Information about fund contracts and legal claims	48
Federal tax information	48
MFS® privacy notice	49

Contact information back cover

The report is prepared for the general information of shareholders. It is authorized for distribution to prospective investors only when preceded or accompanied by a current prospectus.

NOT FDIC INSURED  •  MAY LOSE VALUE  •  NO BANK GUARANTEE

LETTER FROM THE CHAIR AND CEO

Dear Shareholders:

Global markets have recently been buffeted by a series of crosscurrents, including rising inflation, tighter financial conditions and evolving geopolitical tensions. Consequently, at a time when global growth faces multiple headwinds, central banks have been presented with the challenge of reining in rising prices without tipping economies into recession. The U.S. Federal Reserve has made it clear that rates must move higher and tighter policy must be sustained to restore price stability and that this will likely bring some pain to households and businesses. Richly valued, interest rate–sensitive growth equities have been hit particularly hard by higher interest rates, and volatility in fixed income and currency markets has picked up too.

There are, however, encouraging signs for the markets. The latest wave of COVID-19 cases appears to be receding in Asia, and cases outside Asia, while numerous, appear to be causing fewer serious illnesses. Meanwhile, unemployment is low and there are signs that some global supply chain bottlenecks are beginning to ease, though lingering coronavirus restrictions in China and disruptions stemming from Russia’s invasion of Ukraine could hamper these advances. Additionally, easier Chinese monetary and regulatory policies and the record pace of corporate stock buybacks are supportive elements, albeit in an otherwise turbulent investment environment.

It is important to have a deep understanding of company fundamentals during times of market transition, and we have built our unique global research platform to do just that.

At MFS^®, we put our clients’ assets to work responsibly by carefully navigating increasingly complex global capital markets. Our investment team is guided by a commitment to long-term fundamental investing. Our global investment platform — combining collective expertise, long-term discipline, and thoughtful risk management — seeks to uncover what we believe are the best, most durable investment ideas in markets around the world, enabling us to potentially create value for investors.

Respectfully,

Michael W. Roberge

Chair and Chief Executive Officer

MFS Investment Management

October 17, 2022

The opinions expressed in this letter are subject to change and may not be relied upon for investment advice. No forecasts can be guaranteed.

1

Portfolio Composition

Portfolio structure

Top ten holdings

Prologis, Inc., REIT	8.0%
Equinix, Inc., REIT	4.7%
Extra Space Storage, Inc., REIT	3.9%
Simon Property Group, Inc., REIT	3.5%
Goodman Group, REIT	2.9%
Equity Lifestyle Properties, Inc., REIT	2.9%
Sun Communities, Inc., REIT	2.7%
AvalonBay Communities, Inc., REIT	2.6%
Vonovia SE, REIT	2.4%
Welltower, Inc., REIT	2.4%

GICS equity sectors (g)

Real Estate	91.3%
Communication Services	3.2%
Financials	1.7%
Health Care	1.5%

Issuer country weightings (x)

United States	59.1%
United Kingdom	8.0%
Hong Kong	5.7%
Australia	5.1%
Japan	4.7%
Canada	4.5%
Singapore	3.9%
Germany	3.5%
Spain	1.9%
Other Countries	3.6%

Currency exposure weightings (y)

United States Dollar	59.1%
British Pound Sterling	8.0%
Euro	7.0%
Hong Kong Dollar	5.7%
Australian Dollar	5.1%
Japanese Yen	4.7%
Canadian Dollar	4.5%
Singapore Dollar	3.9%
Indian Rupee	1.1%
Other Currencies	0.9%

 

(g) The Global Industry Classification Standard (GICS^®) was developed by 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 that are unclassified by GICS.

(x) Represents the portfolio’s exposure to issuer countries as a percentage of a portfolio’s net assets. For purposes of this presentation, United States includes Cash & Cash Equivalents.

2

Portfolio Composition - continued

(y) Represents the portfolio’s exposure to a particular currency as a percentage of a portfolio's net assets. For purposes of this presentation, United States Dollar includes Cash & Cash Equivalents.

Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities. Please see the Statement of Assets and Liabilities for additional information related to the fund’s cash position and other assets and liabilities.

Percentages are based on net assets as of August 31, 2022.

The portfolio is actively managed and current holdings may be different.

3

Management Review

Summary of Results

For the twelve months ended August 31, 2022, Class A shares of the MFS Global Real Estate Fund (fund) provided a total return of -17.58%, at net asset value. This compares with a return of -16.93% for the fund’s benchmark, the FTSE EPRA Nareit Developed Real Estate Index (net div) (FTSE Index).

Market Environment

During the reporting period, markets continued to grapple with the strongest global inflationary pressures in decades along with signs of slowing economic growth. Intermittent coronavirus flareups, particularly in China, where home-grown vaccines have proved less effective than elsewhere, have kept supply chains stretched for longer than expected. At the same time, the reopening of the economy in the parts of the world where the virus has been better contained has led to a shift in consumption patterns in favor of services, straining already tight labor markets in most developed economies, while reducing demand for manufactured goods, primarily from Asia. As a result of Russia’s invasion of Ukraine, geopolitical considerations, such as sanctions and trade bans, have resulted in additional supply chain tumult and volatile global energy prices. Taken together, these factors have contributed to market volatility.

The ripple effects from the Russian invasion further complicated the mission central banks must undertake to rein in surging inflation. Energy shocks have historically resulted in global growth slowdowns, if not pullbacks, so policymakers will find themselves in the difficult position of trying to restrain inflation without tipping economies into recession. Despite the challenging macroeconomic and geopolitical environment, policymakers remained focused on corralling inflation, although investors appeared to have expected varying degrees of action from the central banks. The Fed was expected to be the most hawkish developed market central bank and the European Central Bank less so, given the growth-deleting effects on Europe's economy stemming from the invasion, while the Bank of Japan remained on the monetary sidelines, leading to a dramatic weakening of the yen.

Against an environment of rising labor and volatile materials prices, higher interest rates and waning fiscal and monetary stimulus, investor anxiety appeared to have increased over the potential that corporate profit margins may be past peak for this cycle. That said, tentative signs that supply chain bottlenecks (particularly semiconductors) may be easing, low levels of unemployment across developed markets and somewhat easier prices for raw materials were supportive factors for the macroeconomic backdrop.

Detractors from Performance

Security selection and an overweight position in real estate investments within the United Kingdom detracted from the fund’s performance relative to the FTSE Index. Here, an overweight position in real estate investment trust Shaftesbury (United Kingdom), and the fund’s holdings of telecommunications tower operator Helios Towers(b) (United Kingdom), weakened relative performance. The stock price of Helios Towers came under pressure as the company delivered financial results that were below estimates, mainly due to lower revenues and slightly higher expenses.

4

Management Review - continued

Stock selection within both Spain and Singapore further held back relative results. Within Spain, the fund’s holdings of telecommunications services provider Cellnex Telecom(b) (Spain) detracted from relative returns as the company’s stock price fell significantly from its peak in August 2021, owing to stock-specific overhangs, including an ongoing dispute over the 3UK tower acquisition, uncertainties surrounding the Deutsche Telecom tower deal and potential in-market consolidation of mobile networks that could reduce demand for telecommunications towers. Within Singapore, holdings of real estate investment trust Mapletree Pan Asia Commercial Trust(b)(h) (Singapore) were among the fund’s top relative detractors as the REIT unexpectedly announced a merger with a related party REIT, a consolidation which brought questionable benefits yet meaningful drawbacks to shareholders.

Elsewhere, not owning shares of storage facility operator Public Storage, real estate company Realty Income, real estate development company Duke Realty and real estate investment trust W.P. Carey weakened relative performance. The fund’s overweight positions in real estate company Leg Immobilien (Germany) and residential real estate management company Vonovia (Germany) further detracted from relative returns.

Contributors to Performance

The fund’s avoidance of real estate investments in both Sweden and France benefited the fund’s relative performance as these investments generally underperformed the FTSE Index.

Securities in other countries that contributed to relative returns included the fund's overweight positions in real estate investment trusts, Extra Space Storage, Phillips Edison, National Storage REIT (Australia), National Retail Properties and Prologis, and in real estate development firm Sino Land (Hong Kong) and data centers operator Equinix. The fund’s holdings of real estate investment trust Rayonier(b) and pulp and paper company Weyerhaeuser(b), and its avoidance of weak-performing real estate development firm Aroundtown (Germany), further strengthened relative returns.

The fund’s cash and/or cash equivalents position during the period was also a contributor to relative performance. Under normal market conditions, the fund strives to be fully invested and generally holds cash to buy new holdings and to provide liquidity. In a period when equity markets fell, as measured by the fund’s benchmark, holding cash aided performance versus the benchmark, which has no cash position.

Respectfully,

Portfolio Manager(s)

Rick Gable and Mark Syn

Note to Shareholders: Effective March 31, 2022, Mark Syn was added as a Portfolio Manager of the fund.

(b) Security is not a benchmark constituent.

(h) Security was not held in the portfolio at period end.

The views expressed in this report are those of the portfolio manager(s) only through the end of the period of the report as stated on the cover and do not necessarily reflect the views of MFS or any other person in the MFS organization. These views are subject to change at any time based on market or other conditions, and MFS disclaims any responsibility to update such views. These

5

Management Review - continued

views may not be relied upon as investment advice or an indication of trading intent on behalf of any MFS portfolio. References to specific securities are not recommendations of such securities, and may not be representative of any MFS portfolio’s current or future investments.

6

Performance Summary THROUGH 8/31/22

The following chart illustrates a representative class of the fund’s historical performance in comparison to its benchmark(s). Performance results include the deduction of the maximum applicable sales charge and reflect the percentage change in net asset value, including reinvestment of dividends and capital gains distributions. The performance of other share classes will be greater than or less than that of the class depicted below. Benchmarks are unmanaged and may not be invested in directly. Benchmark returns do not reflect sales charges, commissions or expenses. (See Notes to Performance Summary.)

Performance data shown represents past performance and is 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 performance shown does not reflect the deduction of taxes, if any, that a shareholder would pay on fund distributions or the redemption of fund shares.

Growth of a Hypothetical $10,000 Investment

7

Performance Summary  - continued

Total Returns through 8/31/22

Average annual without sales charge

Share Class	Class Inception Date	1-yr	5-yr	10-yr	Life (t)
A	3/11/09	(17.58)%	5.26%	7.12%	N/A
B	12/19/14	(18.19)%	4.49%	N/A	4.81%
C	12/19/14	(18.19)%	4.50%	N/A	4.81%
I	3/11/09	(17.32)%	5.54%	7.38%	N/A
R1	12/19/14	(18.15)%	4.48%	N/A	4.82%
R2	12/19/14	(17.76)%	5.01%	N/A	5.35%
R3	12/19/14	(17.53)%	5.29%	N/A	5.61%
R4	12/19/14	(17.36)%	5.52%	N/A	5.86%
R6	7/02/12	(17.31)%	5.62%	7.44%	N/A

Comparative benchmark(s)

FTSE EPRA Nareit Developed Real Estate Index (net div) (f) (16.93)% 1.75% 4.41% N/A

Average annual with sales charge

A With Initial Sales Charge (5.75%)	(22.32)%	4.02%	6.48%	N/A
B With CDSC (Declining over six years from 4% to 0%) (v)	(21.42)%	4.15%	N/A	4.81%
C With CDSC (1% for 12 months) (v)	(19.00)%	4.50%	N/A	4.81%

CDSC – Contingent Deferred Sales Charge.

Class I, R1, R2, R3, R4, and R6 shares do not have a sales charge.

(f)	Source: FactSet Research Systems Inc.
(t)	For the period from the class inception date through the stated period end (for those share classes with less than 10 years of performance history). No comparative benchmark performance information is provided for “life” periods. (See Notes to Performance Summary.)
(v)	Assuming redemption at the end of the applicable period.

Benchmark Definition(s)

FTSE EPRA Nareit Developed Real Estate Index^(c) (net div) – measures the performance of eligible real estate equities worldwide that generate a majority of their revenue and income through the ownership, disposure and development of income-producing real estate.

It is not possible to invest directly in an index.

(c) FTSE International Limited (“FTSE”)^© FTSE 2019. “FTSE^®” is a trademark of the London Stock Exchange Group companies and is used by FTSE International Limited under license. “FT-SE^®”, “FOOTSIE^®” and “FTSE4GOOD^®” are trademarks of the London Stock Exchange Group companies. “Nareit^®” is a trademark of the National Association of Real Estate Investment Trusts (“Nareit”) and “EPRA^®” is a trademark of the European Public Real Estate Association (“EPRA”) and all are used by FTSE under license. The FTSE EPRA Nareit Developed Real Estate

8

Performance Summary  - continued

Index is calculated by FTSE. Neither FTSE, Euronext N.V., Nareit, nor EPRA sponsor, endorse, or promote this product and are not in any way connected to it and do not accept any liability. All intellectual property rights in the index values and constituent list vests in FTSE, Euronext N.V., Nareit, and EPRA. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and/or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE's express written consent.

Notes to Performance Summary

Average annual total return represents the average annual change in value for each share class for the periods presented. Life returns are presented where the share class has less than 10 years of performance history and represent the average annual total return from the class inception date to the stated period end date. As the fund's share classes may have different inception dates, the life returns may represent different time periods and may not be comparable.

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. Please see the prospectus and financial statements for complete details.

Performance results do not include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles and may differ from amounts reported in the financial highlights.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

9

Expense Table

Fund expenses borne by the shareholders during the period,
March 1, 2022 through August 31, 2022

As a shareholder of the fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on certain purchase or redemption payments, and (2) ongoing costs, including management fees; distribution and service (12b-1) fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period March 1, 2022 through August 31, 2022.

Actual Expenses

The first line for each share class in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line for each share class in the following table provides information about hypothetical account values and hypothetical expenses based on the fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line for each share class in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

10

Expense Table - continued

Share Class		Annualized Expense Ratio	Beginning Account Value 3/01/22	Ending Account Value 8/31/22	Expenses Paid During Period (p) 3/01/22-8/31/22
A	Actual	1.18%	$1,000.00	$868.79	$5.56
	Hypothetical (h)	1.18%	$1,000.00	$1,019.26	$6.01
B	Actual	1.93%	$1,000.00	$865.52	$9.08
	Hypothetical (h)	1.93%	$1,000.00	$1,015.48	$9.80
C	Actual	1.93%	$1,000.00	$865.68	$9.08
	Hypothetical (h)	1.93%	$1,000.00	$1,015.48	$9.80
I	Actual	0.93%	$1,000.00	$870.60	$4.38
	Hypothetical (h)	0.93%	$1,000.00	$1,020.52	$4.74
R1	Actual	1.94%	$1,000.00	$866.24	$9.13
	Hypothetical (h)	1.94%	$1,000.00	$1,015.43	$9.86
R2	Actual	1.43%	$1,000.00	$868.38	$6.73
	Hypothetical (h)	1.43%	$1,000.00	$1,018.00	$7.27
R3	Actual	1.19%	$1,000.00	$869.24	$5.61
	Hypothetical (h)	1.19%	$1,000.00	$1,019.21	$6.06
R4	Actual	0.92%	$1,000.00	$870.17	$4.34
	Hypothetical (h)	0.92%	$1,000.00	$1,020.57	$4.69
R6	Actual	0.83%	$1,000.00	$870.49	$3.91
	Hypothetical (h)	0.83%	$1,000.00	$1,021.02	$4.23

(h) 5% class return per year before expenses.

(p) “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).  Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher.

11

Portfolio of Investments

8/31/22

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

Issuer	Shares/Par	Value ($)
Common Stocks – 97.7%
Brokerage & Asset Managers – 1.7%
Brookfield Asset Management, Inc., “A”	948,861	$45,645,896
Construction – 6.5%
American Homes 4 Rent, “A”, REIT	1,305,318	$46,417,108
AvalonBay Communities, Inc., REIT	344,726	69,258,901
Mid-America Apartment Communities, Inc., REIT	336,798	55,797,325
		$171,473,334
Engineering - Construction – 0.9%
Corporacion Inmobiliaria Vesta S.A.B. de C.V.	12,414,502	$22,873,765
Forest & Paper Products – 4.6%
Rayonier, Inc., REIT	1,751,642	$62,218,324
Weyerhaeuser Co., REIT	1,680,484	57,405,333
		$119,623,657
Medical & Health Technology & Services – 3.9%
Encompass Health Corp.	799,699	$38,841,381
Welltower, Inc., REIT	833,800	63,910,770
		$102,752,151
Network & Telecom – 4.7%
Equinix, Inc., REIT	188,648	$124,011,536
Real Estate – 68.9%
Alexandria Real Estate Equities, Inc., REIT	333,359	$51,137,271
Allied Properties, REIT	722,163	17,254,711
Ascendas India Trust, REIT	27,056,900	22,038,406
Big Yellow Group PLC, REIT	3,129,080	48,346,219
Boston Properties, Inc., REIT	355,999	28,277,001
Brixmor Property Group, Inc., REIT	2,555,605	54,894,395
Canadian Apartment Properties, REIT	148,398	5,047,351
CapitaLand Investment Ltd.	23,741,200	62,526,773
Douglas Emmett, Inc., REIT	1,062,905	20,747,906
Embassy Office Parks, REIT	6,553,101	29,876,745
Equity Lifestyle Properties, Inc., REIT	1,073,378	75,243,798
ESR Group Ltd.	20,504,600	57,422,538
Extra Space Storage, Inc., REIT	520,497	103,438,369
Farmland Partners, Inc., REIT	475,031	6,892,700
Goodman Group, REIT	5,750,090	76,749,254
Grainger PLC	15,947,050	49,685,920
Granite REIT	893,903	50,774,861

12

Portfolio of Investments – continued

Issuer	Shares/Par	Value ($)
Common Stocks – continued
Real Estate – continued
Heiwa Real Estate Co. Ltd.	377,100	$10,616,556
Japan Logistics Fund, Inc., REIT	14,512	34,452,798
Katitas Co. Ltd.	2,561,200	61,605,057
LEG Immobilien SE	383,902	29,058,642
National Retail Properties, Inc., REIT	1,263,588	56,735,101
National Storage, REIT	30,955,814	51,157,263
Parkway Real Estate LLC, REIT	4,992,200	17,129,839
Phillips Edison & Co., REIT	1,698,812	55,500,188
Prologis, Inc., REIT	1,684,961	209,794,494
Rural Funds Group, REIT	3,062,333	5,444,119
SEGRO PLC, REIT	1,805,896	19,718,426
Shaftesbury PLC, REIT	7,657,723	36,687,027
Shurgard Self Storage S.A.	855,596	41,314,905
Simon Property Group, Inc., REIT	914,025	93,212,269
Sino Land Co. Ltd.	30,691,635	44,891,828
Star Asia Investment Corp., REIT	41,645	17,210,056
Sun Communities, Inc., REIT	462,651	71,114,085
Swire Properties Ltd.	20,288,600	46,797,777
Unite Group PLC, REIT	1,746,402	21,257,701
Urban Edge Properties, REIT	2,697,380	42,429,787
VICI Properties, Inc., REIT	615,305	20,298,912
Vonovia SE, REIT	2,356,657	63,944,731
		$1,810,725,779
Telecommunications - Wireless – 5.2%
American Tower Corp., REIT	185,840	$47,212,652
Cellnex Telecom S.A.	1,287,362	50,001,259
SBA Communications Corp., REIT	123,626	40,209,356
		$137,423,267
Telephone Services – 1.3%
Helios Towers PLC (a)	24,593,035	$35,483,621
Total Common Stocks (Identified Cost, $2,451,776,984)		$2,570,013,006
Investment Companies (h) – 2.0%
Money Market Funds – 2.0%
MFS Institutional Money Market Portfolio, 2.21% (v) (Identified Cost, $51,567,597)	51,572,424	$51,572,424
Other Assets, Less Liabilities – 0.3%		7,582,746
Net Assets – 100.0%		$2,629,168,176

(a) Non-income producing security.

13

Portfolio of Investments – continued

(h)	An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $51,572,424 and $2,570,013,006, respectively.
(v)	Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

The following abbreviations are used in this report and are defined:
REIT	Real Estate Investment Trust

See Notes to Financial Statements

14

Financial Statements

Statement of Assets and Liabilities

At 8/31/22

This statement represents your fund’s balance sheet, which details the assets and liabilities comprising the total value of the fund.

Assets
Investments in unaffiliated issuers, at value (identified cost, $2,451,776,984)	$2,570,013,006
Investments in affiliated issuers, at value (identified cost, $51,567,597)	51,572,424
Foreign currency, at value (identified cost, $2,224)	2,229
Receivables for
Investments sold	2,558,894
Fund shares sold	4,241,292
Dividends	3,462,203
Other assets	1,779
Total assets	$2,631,851,827
Liabilities
Payables for
Fund shares reacquired	$1,848,381
Payable to affiliates
Investment adviser	114,465
Administrative services fee	2,638
Shareholder servicing costs	363,839
Distribution and service fees	2,069
Payable for independent Trustees' compensation	894
Accrued expenses and other liabilities	351,365
Total liabilities	$2,683,651
Net assets	$2,629,168,176
Net assets consist of
Paid-in capital	$2,431,774,705
Total distributable earnings (loss)	197,393,471
Net assets	$2,629,168,176
Shares of beneficial interest outstanding	149,517,461

15

Statement of Assets and Liabilities – continued

	Net assets	Shares outstanding	Net asset value per share (a)
Class A	$77,693,631	4,443,413	$17.49
Class B	1,126,025	64,074	17.57
Class C	13,170,777	751,262	17.53
Class I	1,143,428,364	65,131,341	17.56
Class R1	500,865	28,756	17.42
Class R2	2,817,505	160,572	17.55
Class R3	6,864,780	391,245	17.55
Class R4	1,242,180	70,725	17.56
Class R6	1,382,324,049	78,476,073	17.61

(a) Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $18.56 [100 / 94.25 x $17.49]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6.

See Notes to Financial Statements

16

Financial Statements

Statement of Operations

Year ended 8/31/22

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

Net investment income (loss)
Income
Dividends	$65,623,534
Dividends from affiliated issuers	307,612
Other	122,538
Foreign taxes withheld	(2,501,933)
Total investment income	$63,551,751
Expenses
Management fee	$22,459,011
Distribution and service fees	422,921
Shareholder servicing costs	1,373,596
Administrative services fee	432,643
Independent Trustees' compensation	41,234
Custodian fee	265,612
Shareholder communications	100,855
Audit and tax fees	87,545
Legal fees	9,873
Miscellaneous	316,000
Total expenses	$25,509,290
Reduction of expenses by investment adviser and distributor	(396,856)
Net expenses	$25,112,434
Net investment income (loss)	$38,439,317
Realized and unrealized gain (loss)
Realized gain (loss) (identified cost basis)
Unaffiliated issuers	$169,458,946
Affiliated issuers	(12,891)
Foreign currency	(163,307)
Net realized gain (loss)	$169,282,748
Change in unrealized appreciation or depreciation
Unaffiliated issuers (net of $1,953 decrease in deferred country tax)	$(756,905,653)
Affiliated issuers	4,827
Translation of assets and liabilities in foreign currencies	(52,130)
Net unrealized gain (loss)	$(756,952,956)
Net realized and unrealized gain (loss)	$(587,670,208)
Change in net assets from operations	$(549,230,891)

See Notes to Financial Statements

17

Financial Statements

Statements of Changes in Net Assets

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

	Year ended
	8/31/22	8/31/21
Change in net assets
From operations
Net investment income (loss)	$38,439,317	$32,590,997
Net realized gain (loss)	169,282,748	70,624,728
Net unrealized gain (loss)	(756,952,956)	539,685,173
Change in net assets from operations	$(549,230,891)	$642,900,898
Total distributions to shareholders	$(66,500,521)	$(20,200,536)
Change in net assets from fund share transactions	$609,206,028	$142,555,056
Total change in net assets	$(6,525,384)	$765,255,418
Net assets
At beginning of period	2,635,693,560	1,870,438,142
At end of period	$2,629,168,176	$2,635,693,560

See Notes to Financial Statements

18

Financial Statements

Financial Highlights

The financial highlights table is intended to help you understand the fund's financial performance for the past 5 years. Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

Class A	Year ended
	8/31/22	8/31/21	8/31/20	8/31/19	8/31/18
Net asset value, beginning of period	$21.62	$16.38	$17.68	$16.19	$15.73
Income (loss) from investment operations
Net investment income (loss) (d)	$0.21	$0.23	$0.31	$0.34	$0.41
Net realized and unrealized gain (loss)	(3.92)	5.15	(0.64)	1.56	0.69
Total from investment operations	$(3.71)	$5.38	$(0.33)	$1.90	$1.10
Less distributions declared to shareholders
From net investment income	$(0.30)	$(0.14)	$(0.97)	$(0.33)	$(0.35)
From net realized gain	(0.12)	—	—	(0.08)	(0.29)
Total distributions declared to shareholders	$(0.42)	$(0.14)	$(0.97)	$(0.41)	$(0.64)
Net asset value, end of period (x)	$17.49	$21.62	$16.38	$17.68	$16.19
Total return (%) (r)(s)(t)(x)	(17.53)	33.02	(2.04)	12.24	7.19
Ratios (%) (to average net assets) and Supplemental data:
Expenses before expense reductions	1.18	1.19	1.22	1.26	1.40
Expenses after expense reductions	1.17	1.18	1.21	1.25	1.35
Net investment income (loss)	1.05	1.21	1.89	2.06	2.65
Portfolio turnover	29	22	39	55	20
Net assets at end of period (000 omitted)	$77,694	$112,559	$75,185	$79,083	$67,838

See Notes to Financial Statements

19

Financial Highlights – continued

Class B (y)	Year ended
	8/31/22	8/31/21	8/31/20	8/31/19	8/31/18
Net asset value, beginning of period	$21.74	$16.47	$17.78	$16.26	$16.33
Income (loss) from investment operations
Net investment income (loss) (d)	$0.06	$0.09	$0.19	$0.22	$0.29
Net realized and unrealized gain (loss)	(3.96)	5.18	(0.65)	1.59	0.70
Total from investment operations	$(3.90)	$5.27	$(0.46)	$1.81	$0.99
Less distributions declared to shareholders
From net investment income	$(0.15)	$(0.00)(w)	$(0.85)	$(0.21)	$(0.52)
From net realized gain	(0.12)	—	—	(0.08)	(0.54)
Total distributions declared to shareholders	$(0.27)	$—	$(0.85)	$(0.29)	$(1.06)
Net asset value, end of period (x)	$17.57	$21.74	$16.47	$17.78	$16.26
Total return (%) (r)(s)(t)(x)	(18.19)	32.02	(2.79)	11.46	6.31
Ratios (%) (to average net assets) and Supplemental data:
Expenses before expense reductions	1.93	1.94	1.97	2.01	2.15
Expenses after expense reductions	1.92	1.93	1.96	2.00	2.10
Net investment income (loss)	0.32	0.48	1.15	1.33	1.85
Portfolio turnover	29	22	39	55	20
Net assets at end of period (000 omitted)	$1,126	$1,396	$1,173	$1,247	$1,085

Class C (y)	Year ended
	8/31/22	8/31/21	8/31/20	8/31/19	8/31/18
Net asset value, beginning of period	$21.70	$16.45	$17.76	$16.26	$16.39
Income (loss) from investment operations
Net investment income (loss) (d)	$0.06	$0.09	$0.19	$0.22	$0.30
Net realized and unrealized gain (loss)	(3.96)	5.18	(0.66)	1.58	0.69
Total from investment operations	$(3.90)	$5.27	$(0.47)	$1.80	$0.99
Less distributions declared to shareholders
From net investment income	$(0.15)	$(0.02)	$(0.84)	$(0.22)	$(0.58)
From net realized gain	(0.12)	—	—	(0.08)	(0.54)
Total distributions declared to shareholders	$(0.27)	$(0.02)	$(0.84)	$(0.30)	$(1.12)
Net asset value, end of period (x)	$17.53	$21.70	$16.45	$17.76	$16.26
Total return (%) (r)(s)(t)(x)	(18.19)	32.09	(2.81)	11.44	6.36
Ratios (%) (to average net assets) and Supplemental data:
Expenses before expense reductions	1.93	1.94	1.97	2.01	2.15
Expenses after expense reductions	1.92	1.93	1.95	2.00	2.10
Net investment income (loss)	0.32	0.47	1.15	1.33	1.88
Portfolio turnover	29	22	39	55	20
Net assets at end of period (000 omitted)	$13,171	$16,414	$11,213	$10,165	$7,868

See Notes to Financial Statements

20

Financial Highlights – continued

Class I	Year ended
	8/31/22	8/31/21	8/31/20	8/31/19	8/31/18
Net asset value, beginning of period	$21.71	$16.45	$17.75	$16.26	$15.78
Income (loss) from investment operations
Net investment income (loss) (d)	$0.27	$0.27	$0.35	$0.39	$0.45
Net realized and unrealized gain (loss)	(3.94)	5.17	(0.64)	1.56	0.69
Total from investment operations	$(3.67)	$5.44	$(0.29)	$1.95	$1.14
Less distributions declared to shareholders
From net investment income	$(0.36)	$(0.18)	$(1.01)	$(0.38)	$(0.37)
From net realized gain	(0.12)	—	—	(0.08)	(0.29)
Total distributions declared to shareholders	$(0.48)	$(0.18)	$(1.01)	$(0.46)	$(0.66)
Net asset value, end of period (x)	$17.56	$21.71	$16.45	$17.75	$16.26
Total return (%) (r)(s)(t)(x)	(17.32)	33.31	(1.80)	12.52	7.47
Ratios (%) (to average net assets) and Supplemental data:
Expenses before expense reductions	0.93	0.94	0.97	1.01	1.18
Expenses after expense reductions	0.92	0.93	0.96	1.00	1.10
Net investment income (loss)	1.32	1.47	2.14	2.40	2.90
Portfolio turnover	29	22	39	55	20
Net assets at end of period (000 omitted)	$1,143,428	$1,070,398	$703,606	$663,977	$607,638

See Notes to Financial Statements

21

Financial Highlights – continued

Class R1 (y)	Year ended
	8/31/22	8/31/21	8/31/20	8/31/19	8/31/18
Net asset value, beginning of period	$21.51	$16.32	$17.65	$16.26	$16.33
Income (loss) from investment operations
Net investment income (loss) (d)	$0.06	$0.09	$0.19	$0.23	$0.27
Net realized and unrealized gain (loss)	(3.92)	5.13	(0.65)	1.55	0.73
Total from investment operations	$(3.86)	$5.22	$(0.46)	$1.78	$1.00
Less distributions declared to shareholders
From net investment income	$(0.11)	$(0.03)	$(0.87)	$(0.31)	$(0.53)
From net realized gain	(0.12)	—	—	(0.08)	(0.54)
Total distributions declared to shareholders	$(0.23)	$(0.03)	$(0.87)	$(0.39)	$(1.07)
Net asset value, end of period (x)	$17.42	$21.51	$16.32	$17.65	$16.26
Total return (%) (r)(s)(t)(x)	(18.15)	32.03	(2.80)	11.45	6.35
Ratios (%) (to average net assets) and Supplemental data:
Expenses before expense reductions	1.94	1.95	1.97	2.01	2.16
Expenses after expense reductions	1.92	1.93	1.96	2.00	2.10
Net investment income (loss)	0.31	0.48	1.14	1.39	1.73
Portfolio turnover	29	22	39	55	20
Net assets at end of period (000 omitted)	$501	$485	$411	$333	$168

Class R2 (y)	Year ended
	8/31/22	8/31/21	8/31/20	8/31/19	8/31/18
Net asset value, beginning of period	$21.71	$16.45	$17.76	$16.26	$16.35
Income (loss) from investment operations
Net investment income (loss) (d)	$0.17	$0.18	$0.27	$0.30	$0.38
Net realized and unrealized gain (loss)	(3.96)	5.18	(0.65)	1.58	0.70
Total from investment operations	$(3.79)	$5.36	$(0.38)	$1.88	$1.08
Less distributions declared to shareholders
From net investment income	$(0.25)	$(0.10)	$(0.93)	$(0.30)	$(0.63)
From net realized gain	(0.12)	—	—	(0.08)	(0.54)
Total distributions declared to shareholders	$(0.37)	$(0.10)	$(0.93)	$(0.38)	$(1.17)
Net asset value, end of period (x)	$17.55	$21.71	$16.45	$17.76	$16.26
Total return (%) (r)(s)(t)(x)	(17.76)	32.71	(2.32)	12.00	6.92
Ratios (%) (to average net assets) and Supplemental data:
Expenses before expense reductions	1.43	1.44	1.47	1.51	1.65
Expenses after expense reductions	1.42	1.43	1.46	1.50	1.60
Net investment income (loss)	0.82	0.97	1.67	1.82	2.39
Portfolio turnover	29	22	39	55	20
Net assets at end of period (000 omitted)	$2,818	$3,504	$2,270	$2,190	$1,699

See Notes to Financial Statements

22

Financial Highlights – continued

Class R3 (y)	Year ended
	8/31/22	8/31/21	8/31/20	8/31/19	8/31/18
Net asset value, beginning of period	$21.70	$16.44	$17.76	$16.26	$16.33
Income (loss) from investment operations
Net investment income (loss) (d)	$0.21	$0.23	$0.31	$0.34	$0.43
Net realized and unrealized gain (loss)	(3.94)	5.17	(0.65)	1.57	0.70
Total from investment operations	$(3.73)	$5.40	$(0.34)	$1.91	$1.13
Less distributions declared to shareholders
From net investment income	$(0.30)	$(0.14)	$(0.98)	$(0.33)	$(0.67)
From net realized gain	(0.12)	—	—	(0.08)	(0.53)
Total distributions declared to shareholders	$(0.42)	$(0.14)	$(0.98)	$(0.41)	$(1.20)
Net asset value, end of period (x)	$17.55	$21.70	$16.44	$17.76	$16.26
Total return (%) (r)(s)(t)(x)	(17.53)	33.04	(2.09)	12.22	7.30
Ratios (%) (to average net assets) and Supplemental data:
Expenses before expense reductions	1.18	1.20	1.22	1.26	1.40
Expenses after expense reductions	1.17	1.18	1.21	1.25	1.35
Net investment income (loss)	1.05	1.22	1.90	2.05	2.73
Portfolio turnover	29	22	39	55	20
Net assets at end of period (000 omitted)	$6,865	$6,082	$4,255	$3,768	$2,519

Class R4 (y)	Year ended
	8/31/22	8/31/21	8/31/20	8/31/19	8/31/18
Net asset value, beginning of period	$21.72	$16.45	$17.75	$16.26	$16.32
Income (loss) from investment operations
Net investment income (loss) (d)	$0.28	$0.27	$0.35	$0.38	$0.47
Net realized and unrealized gain (loss)	(3.97)	5.18	(0.64)	1.56	0.68
Total from investment operations	$(3.69)	$5.45	$(0.29)	$1.94	$1.15
Less distributions declared to shareholders
From net investment income	$(0.35)	$(0.18)	$(1.01)	$(0.37)	$(0.68)
From net realized gain	(0.12)	—	—	(0.08)	(0.53)
Total distributions declared to shareholders	$(0.47)	$(0.18)	$(1.01)	$(0.45)	$(1.21)
Net asset value, end of period (x)	$17.56	$21.72	$16.45	$17.75	$16.26
Total return (%) (r)(s)(t)(x)	(17.36)	33.37	(1.79)	12.46	7.48
Ratios (%) (to average net assets) and Supplemental data:
Expenses before expense reductions	0.92	0.95	0.97	1.01	1.16
Expenses after expense reductions	0.91	0.93	0.96	1.00	1.10
Net investment income (loss)	1.32	1.47	2.13	2.30	3.02
Portfolio turnover	29	22	39	55	20
Net assets at end of period (000 omitted)	$1,242	$5,680	$3,649	$3,893	$3,141

See Notes to Financial Statements

23

Financial Highlights – continued

Class R6	Year ended
	8/31/22	8/31/21	8/31/20	8/31/19	8/31/18
Net asset value, beginning of period	$21.78	$16.49	$17.80	$16.29	$15.81
Income (loss) from investment operations
Net investment income (loss) (d)	$0.28	$0.29	$0.37	$0.40	$0.46
Net realized and unrealized gain (loss)	(3.96)	5.19	(0.65)	1.58	0.69
Total from investment operations	$(3.68)	$5.48	$(0.28)	$1.98	$1.15
Less distributions declared to shareholders
From net investment income	$(0.37)	$(0.19)	$(1.03)	$(0.39)	$(0.38)
From net realized gain	(0.12)	—	—	(0.08)	(0.29)
Total distributions declared to shareholders	$(0.49)	$(0.19)	$(1.03)	$(0.47)	$(0.67)
Net asset value, end of period (x)	$17.61	$21.78	$16.49	$17.80	$16.29
Total return (%) (r)(s)(t)(x)	(17.31)	33.49	(1.76)	12.68	7.51
Ratios (%) (to average net assets) and Supplemental data:
Expenses before expense reductions	0.84	0.87	0.89	0.93	1.07
Expenses after expense reductions	0.82	0.85	0.88	0.92	1.01
Net investment income (loss)	1.41	1.55	2.23	2.40	2.95
Portfolio turnover	29	22	39	55	20
Net assets at end of period (000 omitted)	$1,382,324	$1,419,175	$1,068,677	$918,174	$691,035

(d)	Per share data is based on average shares outstanding.
(r)	Certain expenses have been reduced without which performance would have been lower.
(s)	From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.
(t)	Total returns do not include any applicable sales charges.
(w)	Per share amount was less than $0.01.
(x)	The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.
(y)	Per share amounts have been restated on a retroactive basis to reflect a reverse stock split completed at the ratios noted below after the close of business on November 2, 2018. Class B 1 : 0.5437 Class C 1 : 0.5399 Class R1 1 : 0.5487 Class R2 1 : 0.5473 Class R3 1 : 0.5493 Class R4 1 : 0.5504

See Notes to Financial Statements

24

Notes to Financial Statements

(1) Business and Organization

MFS Global Real Estate Fund (the fund) is a diversified series of MFS Series Trust XIII (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

(2) Significant Accounting Policies

General — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund’s Statement of Assets and Liabilities through the date that the financial statements were issued. The fund invests a significant amount of its net assets in U.S. and foreign real estate related investments and as a result is subject to certain risks associated with the direct ownership of real estate and the real estate industry in general. These include risks related to general, regional and local economic conditions; difficulties in valuing and disposing of real estate; fluctuations in interest rates and property tax rates, shifts in zoning laws, environmental regulations and other governmental action; cash flow dependency; increased operating expenses; lack of availability of mortgage funds; losses due to natural disasters; overbuilding; losses due to casualty or condemnation; changes in property values and rental rates; the management skill and creditworthiness of the manager; and other factors. The fund invests in foreign securities. Investments in foreign securities are vulnerable to the effects of changes in the relative values of the local currency and the U.S. dollar and to the effects of changes in each country’s market, economic, industrial, political, regulatory, geopolitical, environmental, public health, and other conditions.

In June 2022, the FASB issued Accounting Standards Update 2022-03, Fair Value Measurement (Topic 820) – Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”), which affects all entities that have investments in equity securities measured at fair value that are subject to contractual sale restrictions. ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is a characteristic of the reporting entity holding the equity security rather than a characteristic of the asset and, therefore, is not considered in measuring the fair value of the equity security. The fund decided to early adopt ASU 2022-03 effective as of June 30, 2022 as the guidance in ASU 2022-03 was consistent with the fund’s existing practices for fair value measurement.

Balance Sheet Offsetting — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across

25

Notes to Financial Statements  - continued

transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund’s Significant Accounting Policies note under the captions for each of the fund’s in-scope financial instruments and transactions.

Investment Valuations — Equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

The Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments (including any fair valuation) to the adviser pursuant to valuation policies and procedures approved by the Board. If the adviser determines that reliable market quotations are not readily available, investments are valued at fair value as determined in good faith by the adviser in accordance with such procedures under the oversight of the Board of Trustees. Under the fund’s valuation policies and procedures, market quotations are not considered to be readily available for most types of debt instruments and floating rate loans and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services. In addition, investments may be valued at fair value if the adviser determines that an investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund’s net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund’s foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund’s net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund’s net asset value may differ from quoted or

26

Notes to Financial Statements  - continued

published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of August 31, 2022 in valuing the fund's assets and liabilities:

Financial Instruments	Level 1	Level 2	Level 3	Total
Equity Securities:
United States	$1,494,998,962	$—	$—	$1,494,998,962
United Kingdom	170,202,787	40,976,127	—	211,178,914
Hong Kong	—	149,112,143	—	149,112,143
Australia	—	133,350,636	—	133,350,636
Japan	—	123,884,467	—	123,884,467
Canada	118,722,819	—	—	118,722,819
Singapore	—	101,695,018	—	101,695,018
Germany	93,003,373	—	—	93,003,373
Spain	—	50,001,259	—	50,001,259
Other Countries	64,188,670	29,876,745	—	94,065,415
Mutual Funds	51,572,424	—	—	51,572,424
Total	$1,992,689,035	$628,896,395	$—	$2,621,585,430

For further information regarding security characteristics, see the Portfolio of Investments.

Foreign Currency Translation — Purchases and sales of foreign investments, income, and expenses are converted into U.S. dollars based upon currency exchange rates prevailing on the respective dates of such transactions or on the reporting date for foreign denominated receivables and payables. Gains and losses attributable to foreign currency exchange rates on sales of securities are recorded for financial statement purposes as net realized gains and losses on investments. Gains and losses attributable to foreign exchange rate movements on receivables, payables, income and expenses are recorded for financial statement purposes as foreign currency transaction gains and losses. That portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

Indemnifications — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business,

27

Notes to Financial Statements  - continued

the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

Investment Transactions and Income — Investment transactions are recorded on the trade date. Dividends received in cash are recorded on the ex-dividend date. Certain dividends from foreign securities will be recorded when the fund is informed of the dividend if such information is obtained subsequent to the ex-dividend date. Dividend payments received in additional securities are recorded on the ex-dividend date in an amount equal to the value of the security on such date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis. Distributions from REITs may be characterized as ordinary income, net capital gain, or a return of capital to the fund. The proper characterization of REIT distributions is generally not known until after the end of each calendar year. As such, estimates are used in reporting the character of income and distributions for financial statement purposes. The fund receives substantial distributions from holdings in REITs.

The fund may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Tax Matters and Distributions — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund’s federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for a three year period. Management has analyzed the fund’s tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability. Foreign taxes, if any, have been accrued by the fund in the accompanying financial statements in accordance with the applicable foreign tax law. Foreign income taxes may be withheld by certain countries in which the fund invests. Additionally, capital gains realized by the fund on securities issued in or by certain foreign countries may be subject to capital gains tax imposed by those countries.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to wash sale loss deferrals, passive foreign investment companies, and treating a portion of the proceeds from redemptions as a distribution for tax purposes.

28

Notes to Financial Statements  - continued

The tax character of distributions declared to shareholders for the last two fiscal years is as follows:

	Year ended 8/31/22	Year ended 8/31/21
Ordinary income (including any short-term capital gains)	$50,000,023	$20,200,536
Long-term capital gains	16,500,498	—
Total distributions	$66,500,521	$20,200,536

The federal tax cost and the tax basis components of distributable earnings were as follows:

As of 8/31/22
Cost of investments	$2,522,421,554
Gross appreciation	395,585,034
Gross depreciation	(296,421,158)
Net unrealized appreciation (depreciation)	$99,163,876
Undistributed long-term capital gain	101,438,219
Late year ordinary loss deferral	(3,146,389)
Other temporary differences	(62,235)
Total distributable earnings (loss)	$197,393,471

Multiple Classes of Shares of Beneficial Interest — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income, realized and unrealized gain (loss), and common expenses are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund’s distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

	Year ended 8/31/22	Year ended 8/31/21
Class A	$1,768,149	$634,639
Class B	17,117	216
Class C	205,778	16,388
Class I	30,224,650	7,760,116
Class R1	4,427	754
Class R2	58,854	13,297
Class R3	126,788	38,887
Class R4	128,149	40,692
Class R6	33,966,609	11,695,547
Total	$66,500,521	$20,200,536

29

Notes to Financial Statements  - continued

(3) Transactions with Affiliates

Investment Adviser — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. The management fee is computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

Up to $1 billion	0.90%
In excess of $1 billion and up to $2.5 billion	0.75%
In excess of $2.5 billion	0.65%

MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. Effective March 1, 2022, MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until December 31, 2023. For the year ended August 31, 2022, this management fee reduction amounted to $396,817, which is included in the reduction of total expenses in the Statement of Operations.

The management fee incurred for the year ended August 31, 2022 was equivalent to an annual effective rate of 0.78% of the fund's average daily net assets.

For the period from September 1, 2021 through July 31, 2022, the investment adviser had agreed in writing to pay a portion of the fund’s total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses did not exceed the following rates annually of each class’s average daily net assets:

				Classes
A	B	C	I	R1	R2	R3	R4	R6
1.35%	2.10%	2.10%	1.10%	2.10%	1.60%	1.35%	1.10%	1.05%

This written agreement terminated on July 31, 2022. For the period from September 1, 2021 through July 31, 2022,  this reduction the fund’s actual operating expenses did not exceed the limit and therefore, the investment adviser did not pay any portion of the fund’s expenses related to this agreement.

Effective August 1, 2022, the investment adviser has agreed in writing to pay a portion of the fund’s total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses do not exceed the following rates annually of each class’s average daily net assets:

				Classes
A	B	C	I	R1	R2	R3	R4	R6
1.35%	2.10%	2.10%	1.10%	2.10%	1.60%	1.35%	1.10%	1.04%

30

Notes to Financial Statements  - continued

This written agreement will continue until modified by the fund’s Board of Trustees, but such agreement will continue at least until December 31, 2023. For the period from August 1, 2022 through August 31, 2022, the fund’s actual operating expenses did not exceed the limit and therefore, the investment adviser did not pay any portion of the fund’s expenses related to this agreement

Distributor — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $33,081 for the year ended August 31, 2022, as its portion of the initial sales charge on sales of Class A shares of the fund.

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries.

Distribution Plan Fee Table:

	Distribution Fee Rate (d)	Service Fee Rate (d)	Total Distribution Plan (d)	Annual Effective Rate (e)	Distribution and Service Fee
Class A	—	0.25%	0.25%	0.25%	$ 219,222
Class B	0.75%	0.25%	1.00%	1.00%	13,284
Class C	0.75%	0.25%	1.00%	1.00%	153,442
Class R1	0.75%	0.25%	1.00%	1.00%	4,423
Class R2	0.25%	0.25%	0.50%	0.50%	16,297
Class R3	—	0.25%	0.25%	0.25%	16,253
Total Distribution and Service Fees					$422,921

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the year ended August 31, 2022 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the year ended August 31, 2022, this rebate amounted to $39 for Class A shares and is included in the reduction of total expenses in the Statement of Operations.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of

31

Notes to Financial Statements  - continued

purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the year ended August 31, 2022, were as follows:

	Amount
Class A	$3,873
Class B	153
Class C	651

Shareholder Servicing Agent — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the year ended August 31, 2022, the fee was $51,318, which equated to 0.0018% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the year ended August 31, 2022, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $1,322,278.

Administrator — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee incurred for the year ended August 31, 2022 was equivalent to an annual effective rate of 0.0152% of the fund's average daily net assets.

Trustees’ and Officers’ Compensation — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

Other — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

The fund is permitted to engage in purchase and sale transactions with funds and accounts for which MFS serves as investment adviser or sub-adviser (“cross-trades”) pursuant to a policy adopted by the Board of Trustees. This policy has been designed to ensure that cross-trades conducted by the fund comply with Rule 17a-7 under the Investment Company Act of 1940. During the year ended August 31, 2022, the fund engaged in sale transactions pursuant to this policy, which amounted to $1,065,150. The sales transactions resulted in net realized gains (losses) of $318,822.

32

Notes to Financial Statements  - continued

The adviser has voluntarily undertaken to reimburse the fund from its own resources on a quarterly basis for the cost of investment research embedded in the cost of the fund’s securities trades. This agreement may be rescinded at any time. For the year ended August 31, 2022, this reimbursement amounted to $121,876, which is included in “Other” income in the Statement of Operations.

(4) Portfolio Securities

For the year ended August 31, 2022, purchases and sales of investments, other than short-term obligations, aggregated $1,447,154,535 and $803,837,497, respectively.

(5) Shares of Beneficial Interest

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

	Year ended 8/31/22		Year ended 8/31/21
	Shares	Amount	Shares	Amount
Shares sold
Class A	1,658,755	$34,094,678	1,782,441	$33,397,135
Class B	7,671	162,435	958	19,611
Class C	89,992	1,799,139	172,764	3,172,430
Class I	31,890,513	669,812,347	16,406,799	302,799,538
Class R1	10,509	199,518	3,344	62,399
Class R2	43,779	895,501	50,601	942,872
Class R3	207,687	4,000,372	130,164	2,361,515
Class R4	131,468	2,814,096	207,839	4,041,564
Class R6	21,283,551	439,851,620	11,614,551	213,482,434
	55,323,925	$1,153,629,706	30,369,461	$560,279,498
Shares issued to shareholders in reinvestment of distributions
Class A	82,635	$1,762,602	26,190	$455,710
Class B	794	17,117	12	216
Class C	9,472	203,643	911	16,003
Class I	1,370,461	29,300,452	429,157	7,488,789
Class R1	207	4,427	43	754
Class R2	2,730	58,561	760	13,297
Class R3	5,922	126,788	2,226	38,887
Class R4	5,991	128,149	2,332	40,692
Class R6	1,125,035	24,120,743	538,888	9,425,153
	2,603,247	$55,722,482	1,000,519	$17,479,501

33

Notes to Financial Statements  - continued

	Year ended 8/31/22		Year ended 8/31/21
	Shares	Amount	Shares	Amount
Shares reacquired
Class A	(2,503,953)	$(52,071,608)	(1,192,799)	$(21,881,185)
Class B	(8,618)	(172,907)	(7,979)	(146,325)
Class C	(104,695)	(2,067,180)	(98,648)	(1,788,128)
Class I	(17,425,159)	(353,779,924)	(10,322,448)	(189,918,748)
Class R1	(4,498)	(95,027)	(6,008)	(118,660)
Class R2	(47,365)	(961,400)	(27,955)	(512,495)
Class R3	(102,585)	(2,027,801)	(110,912)	(2,094,780)
Class R4	(328,278)	(6,870,408)	(170,452)	(3,213,198)
Class R6	(9,100,375)	(182,099,905)	(11,793,015)	(215,530,424)
	(29,625,526)	$(600,146,160)	(23,730,216)	$(435,203,943)
Net change
Class A	(762,563)	$(16,214,328)	615,832	$11,971,660
Class B	(153)	6,645	(7,009)	(126,498)
Class C	(5,231)	(64,398)	75,027	1,400,305
Class I	15,835,815	345,332,875	6,513,508	120,369,579
Class R1	6,218	108,918	(2,621)	(55,507)
Class R2	(856)	(7,338)	23,406	443,674
Class R3	111,024	2,099,359	21,478	305,622
Class R4	(190,819)	(3,928,163)	39,719	869,058
Class R6	13,308,211	281,872,458	360,424	7,377,163
	28,301,646	$609,206,028	7,639,764	$142,555,056

The fund is one of several mutual funds in which certain MFS funds may invest. The MFS funds do not invest in the underlying funds for the purpose of exercising management or control. At the end of the period, the MFS Growth Allocation Fund, the MFS Moderate Allocation Fund, the MFS Aggressive Growth Allocation Fund, and the MFS Conservative Allocation Fund, were the owners of record of approximately 9%, 7%, 4%, and 3%, respectively, of the value of outstanding voting shares of the fund. In addition, the MFS Lifetime Income Fund, the MFS Lifetime 2065 Fund, the MFS Lifetime 2060 Fund, the MFS Lifetime 2055 Fund, the MFS Lifetime 2050 Fund, the MFS Lifetime 2045 Fund, the MFS Lifetime 2040 Fund, the MFS Lifetime 2035 Fund, the MFS Lifetime 2030 Fund, and the MFS Lifetime 2025 Fund were each the owners of record of less than 1% of the value of outstanding voting shares of the fund.

Effective June 1, 2019, purchases of the fund’s Class B shares were closed to new and existing investors subject to certain exceptions.

(6) Line of Credit

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks

34

Notes to Financial Statements  - continued

under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 16, 2023 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the year ended August 31, 2022, the fund’s commitment fee and interest expense were $10,793 and $0, respectively, and are included in “Miscellaneous” expense in the Statement of Operations.

(7) Investments in Affiliated Issuers

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers:

Affiliated Issuers	Beginning Value	Purchases	Sales Proceeds	Realized Gain (Loss)	Change in Unrealized Appreciation or Depreciation	Ending Value
MFS Institutional Money Market Portfolio	$42,420,492	$1,148,311,433	$1,139,151,437	$(12,891)	$4,827	$51,572,424

Affiliated Issuers	Dividend Income	Capital Gain Distributions
MFS Institutional Money Market Portfolio	$307,612	$—

(8) LIBOR Transition

Certain of the fund's investments, including investments in certain debt instruments and derivatives (if any), as well as borrowings by the fund and certain other contractual arrangements of the fund, may be based on the London Interbank Offered Rate (“LIBOR”). In 2017, the regulatory authority that oversees financial services firms in the United Kingdom announced plans to transition away from LIBOR by the end of 2021. In March 2021, the administrator of LIBOR announced the extension of the publication of the more commonly used U.S. dollar LIBOR settings to the end of June 2023. Although the full impacts of the transition away from LIBOR are not fully known, the transition may result in, among other things, an increase in volatility or illiquidity of the markets for instruments that currently rely on LIBOR to determine interest rates and this could have an adverse impact on the fund's performance. With respect to the fund's accounting for investments, including investments in certain debt instruments and derivatives, as well as borrowings by the fund and any other contractual arrangements of the fund that undergo reference rate-related modifications as a result of the transition, management will rely upon the relief provided by FASB Codification Topic 848 – Reference Rate Reform (Topic 848). The guidance in Topic 848 permits the fund

35

Notes to Financial Statements  - continued

to account for those modified contracts as a continuation of the existing contracts. Management is still evaluating the impact to the fund of the June 30, 2023 planned discontinuation of the more commonly used U.S. dollar LIBOR settings.

(9) Russia and Ukraine Conflict

The market disruptions, which began in late February 2022, associated with geopolitical events related to the conflict between Russia and Ukraine may adversely affect the value of the fund’s assets and thus the fund’s performance. Management continues to monitor these events and to evaluate the related impacts, if any, to the fund.

36

Report of Independent Registered Public Accounting Firm

To the Shareholders of MFS Global Real Estate Fund and the Board of Trustees of MFS Series Trust XIII

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities of MFS Global Real Estate Fund (the “Fund”) (one of the funds constituting MFS Series Trust XIII (the “Trust”)), including the portfolio of investments, as of August 31, 2022, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund (one of the funds constituting MFS Series Trust XIII) at August 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and its financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

37

Report of Independent Registered Public Accounting Firm – continued

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of August 31, 2022, by correspondence with the custodian and others or by other appropriate auditing procedures where replies from others were not received. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

We have served as the auditor of one or more MFS investment companies since 1993.

Boston, Massachusetts
October 17, 2022

38

Trustees and Officers — Identification and Background

The Trustees and Officers of the Trust, as of October 1, 2022, are listed below, together with their principal occupations during the past five years. (Their titles may have varied during that period.)  The address of each Trustee and Officer is 111 Huntington Avenue, Boston, Massachusetts 02199-7618.

Name, Age	Position(s) Held with Fund	Trustee/Officer Since(h)	Number of MFS Funds overseen by the Trustee	Principal Occupations During the Past Five Years	Other Directorships During the Past Five Years (j)
INTERESTED TRUSTEES
Michael W. Roberge (k) (age 56)	Trustee	January 2021	136	Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; Chairman of the Board (since January 2022); President (until December 2018); Chief Investment Officer (until December 2018)	N/A
INDEPENDENT TRUSTEES
John P. Kavanaugh (age 67)	Trustee and Chair of Trustees	January 2009	136	Private investor	N/A
Steven E. Buller (age 71)	Trustee	February 2014	136	Private investor	N/A
John A. Caroselli (age 68)	Trustee	March 2017	136	Private investor; JC Global Advisors, LLC (management consulting), President (since 2015)	N/A
Maureen R. Goldfarb (age 67)	Trustee	January 2009	136	Private investor	N/A
Peter D. Jones (age 67)	Trustee	January 2019	136	Private investor	N/A
James W. Kilman, Jr. (age 61)	Trustee	January 2019	136	Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016)	Alpha-En Corporation, Director (2016-2019)

39

Trustees and Officers -continued

Name, Age	Position(s) Held with Fund	Trustee/Officer Since(h)	Number of MFS Funds overseen by the Trustee	Principal Occupations During the Past Five Years	Other Directorships During the Past Five Years (j)
Clarence Otis, Jr. (age 66)	Trustee	March 2017	136	Private investor	VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director
Maryanne L. Roepke (age 66)	Trustee	May 2014	136	Private investor	N/A
Laurie J. Thomsen (age 65)	Trustee	March 2005	136	Private investor	The Travelers Companies, Director; Dycom Industries, Inc., Director

Name, Age	Position(s) Held with Fund	Trustee/Officer Since(h)	Number of MFS Funds for which the Person is an Officer	Principal Occupations During the Past Five Years
OFFICERS
Christopher R. Bohane (k) (age 48)	Assistant Secretary and Assistant Clerk	July 2005	136	Massachusetts Financial Services Company, Senior Vice President and Senior Managing Counsel
Kino Clark (k) (age 54)	Assistant Treasurer	January 2012	136	Massachusetts Financial Services Company, Vice President
John W. Clark, Jr. (k) (age 55)	Assistant Treasurer	April 2017	136	Massachusetts Financial Services Company, Vice President (since March 2017); Deutsche Bank (financial services), Department Head - Treasurer's Office (until February 2017)
David L. DiLorenzo (k) (age 54)	President	July 2005	136	Massachusetts Financial Services Company, Senior Vice President
Heidi W. Hardin (k) (age 55)	Secretary and Clerk	April 2017	136	Massachusetts Financial Services Company, Executive Vice President and General Counsel (since March 2017); Harris Associates (investment management), General Counsel (until January 2017)
Brian E. Langenfeld (k) (age 49)	Assistant Secretary and Assistant Clerk	June 2006	136	Massachusetts Financial Services Company, Vice President and Managing Counsel

40

Trustees and Officers -continued

Name, Age	Position(s) Held with Fund	Trustee/Officer Since(h)	Number of MFS Funds for which the Person is an Officer	Principal Occupations During the Past Five Years
Rosa E. Licea-Mailloux(k) (age 46)	Chief Compliance Officer	March 2022	136	Massachusetts Financial Services Company, Vice President (since 2018); Director of Corporate Compliance (2018-2021), Senior Director Compliance (2021-2022), Senior Managing Director of North American Compliance & Chief Compliance Officer (since March 2022); Natixis Investment Managers (investment management), Funds Chief Compliance Officer, Deputy General Counsel & Senior Vice President (until 2018)
Amanda S. Mooradian (k) (age 43)	Assistant Secretary and Assistant Clerk	September 2018	136	Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel
Susan A. Pereira (k) (age 51)	Assistant Secretary and Assistant Clerk	July 2005	136	Massachusetts Financial Services Company, Vice President and Managing Counsel
Kasey L. Phillips (k) (age 51)	Assistant Treasurer	September 2012	136	Massachusetts Financial Services Company, Vice President
Matthew A. Stowe (k) (age 47)	Assistant Secretary and Assistant Clerk	October 2014	136	Massachusetts Financial Services Company, Vice President and Senior Managing Counsel
William B. Wilson(k) (age 40)	Assistant Secretary and Assistant Clerk	October 2022	136	Massachusetts Financial Services Company, Assistant Vice President and Counsel
James O. Yost (k) (age 62)	Treasurer	September 1990	136	Massachusetts Financial Services Company, Senior Vice President

(h) Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively.

(j) Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”).

(k) “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618.

41

Trustees and Officers -continued

Each Trustee (other than Messrs. Jones, Kilman and Roberge) has been elected by shareholders and each Trustee and Officer holds office until his or her successor is chosen and qualified or until his or her earlier death, resignation, retirement or removal. Mr. Roberge became a Trustee of the Funds on January 1, 2021 and Messrs. Jones and Kilman became Trustees of the Funds on January 1, 2019. The Trust does not hold annual meetings for the purpose of electing Trustees, and Trustees are not elected for fixed terms. Under the terms of the Board's retirement policy, an Independent Trustee shall retire at the end of the calendar year in which he or she reaches the earlier of 75 years of age or 15 years of service on the Board (or, in the case of any Independent Trustee who joined the Board prior to 2015, 20 years of service on the Board).

Messrs. Buller, Kilman and Otis and Ms. Roepke are members of the Trust’s Audit Committee.

Each of the Interested Trustees and certain Officers hold comparable officer positions with certain affiliates of MFS.

The Statement of Additional Information for a Fund includes further information about the Trustees and is available without charge upon request by calling 1-800-225-2606.

Investment Adviser	Custodian
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618	State Street Bank and Trust Company 1 Lincoln Street Boston, MA 02111-2900

Distributor	Independent Registered Public Accounting Firm
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618	Ernst & Young LLP 200 Clarendon Street Boston, MA 02116

Portfolio Manager(s)

Rick Gable
Mark Syn

42

Board Review of Investment Advisory Agreement

MFS Global Real Estate Fund

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested (“independent”) Trustees, voting separately, annually approve the continuation of the Fund’s investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2022 (“contract review meetings”) for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the “MFS Funds”). The independent Trustees were assisted in their evaluation of the Fund’s investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2021 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the “Broadridge performance universe”), (ii) information provided by Broadridge on the Fund’s advisory fees and other expenses and the advisory fees and other expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the “Broadridge expense group and universe”), (iii) information provided by MFS on the advisory fees of portfolios of other clients of MFS, including institutional separate accounts and other clients, (iv) information as to whether and to what extent applicable expense waivers, reimbursements or fee “breakpoints” are observed for the Fund, (v) information regarding MFS’ financial results and financial condition, including MFS’ and certain of its affiliates’ estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS’ institutional business, (vi) MFS’ views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vii) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (viii) information regarding the overall organization of MFS, including information about

43

Board Review of Investment Advisory Agreement - continued

MFS’ senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees’ conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees’ deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees’ conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund’s total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund’s Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2021, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund’s Class I shares was in the 1st quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund’s Class I shares was in the 1st quintile for each of the one- and three-year periods ended December 31, 2021 relative to the Broadridge performance universe. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year regarding the Fund’s performance. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that they were satisfied with MFS’ responses and efforts relating to investment performance.

In assessing the reasonableness of the Fund’s advisory fee, the Trustees considered, among other information, the Fund’s advisory fee and the total expense ratio of the Fund’s Class I shares as a percentage of average daily net assets and the advisory fee and total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that MFS currently observes an expense limitation for the Fund, which may not be changed without the Trustees’ approval. The Trustees also considered that, according to the data provided by Broadridge (which takes into account any fee reductions or expense limitations that were in effect during the Fund’s last fiscal year), the Fund’s effective advisory fee rate

44

Board Review of Investment Advisory Agreement - continued

and total expense ratio were each approximately at the Broadridge expense group median. The Trustees also noted that MFS has agreed to further reduce the expense limitation for Class R6 shares of the Fund effective August 1, 2022, which may not be changed without the Trustee’s approval.

The Trustees also considered the advisory fees charged by MFS to any institutional separate accounts advised by MFS (“separate accounts”) and unaffiliated investment companies for which MFS serves as subadviser (“subadvised funds”) that have comparable investment strategies to the Fund, if any. In comparing these fees, the Trustees considered information provided by MFS as to the generally broader scope of services provided by MFS to the Fund, as well as the more extensive regulatory burdens imposed on MFS in managing the Fund, in comparison to separate accounts and subadvised funds. The Trustees also considered the higher demands placed on MFS’ investment personnel and trading infrastructure as a result of the daily cash in-flows and out-flows of the Fund in comparison to separate accounts.

The Trustees also considered whether the Fund may benefit from any economies of scale in the management of the Fund in the event of growth in assets of the Fund and/or growth in assets of the MFS Funds as a whole. They noted that the Fund’s advisory fee rate schedule is subject to contractual breakpoints that reduce the Fund’s advisory fee rate on average daily net assets over $1 billion and $2.5 billion. The Trustees also noted that MFS has agreed in writing to waive a portion of the management fees of certain MFS Funds, including the Fund, if the total combined assets of certain funds within the MFS Funds’ complex increase above agreed upon thresholds (the “group fee waiver”), enabling the Fund’s shareholders to share in the benefits from any economies of scale at the complex level. The group fee waiver is reviewed and renewed annually between the Board and MFS. The Trustees concluded that the breakpoints and the group fee waiver were sufficient to allow the Fund to benefit from economies of scale as its assets and overall complex assets grow.

The Trustees also considered information prepared by MFS relating to MFS’ costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS’ methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

After reviewing these and other factors described herein, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that the advisory fees charged to the Fund represent reasonable compensation in light of the services being provided by MFS to the Fund.

In addition, the Trustees considered MFS’ resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

45

Board Review of Investment Advisory Agreement - continued

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund’s behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS’ interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

The Trustees considered so-called “fall-out benefits” to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund’s portfolio brokerage commissions.

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund’s investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2022.

46

Statement Regarding Liquidity Risk Management Program

The fund has adopted and implemented a liquidity risk management program (the “Program”) as required by Rule 22e-4 under the Investment Company Act of 1940, as amended. The fund’s Board of Trustees (the “Board”) has designated MFS as the administrator of the Program. The Program is reasonably designed to assess and manage the liquidity risk of the fund. Liquidity risk is the risk that the fund could not meet requests to redeem shares issued by the fund without significant dilution of remaining investors' interests.

MFS provided a written report to the Board for consideration at its March 2022 meeting that addressed the operation of the Program and provided an assessment of the adequacy and effectiveness of the Program during the period from January 1, 2021 to December 31, 2021 (the “Covered Period”). The report concluded that during the Covered Period the Program had operated effectively in all material respects and had adequately and effectively been implemented to assess and manage the fund’s liquidity risk. MFS also reported that there were no liquidity events that impacted the fund or its ability to timely meet redemptions without dilution to existing shareholders during the Covered Period.

There can be no assurance that the Program will achieve its objectives in the future. Further information on liquidity risk, and other principal risks to which an investment in the fund may be subject, can be found in the prospectus.

47

Proxy Voting Policies and Information

MFS votes proxies on behalf of the fund pursuant to proxy voting policies and procedures that are available without charge, upon request, by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC’s Web site at http://www.sec.gov.

Information regarding how the fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available by August 31 of each year without charge by visiting mfs.com/proxyvoting, or by visiting the SEC’s Web site at http://www.sec.gov.

Quarterly Portfolio Disclosure

The fund files a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's Web site at  http://www.sec.gov. A shareholder can obtain the portfolio holdings report for the first and third quarters of the fund's fiscal year at mfs.com/openendfunds by choosing the fund's name and then scrolling to the “Resources” section and clicking on the “Prospectus and Reports” tab.

Further Information

From time to time, MFS may post important information about the fund or the MFS Funds on the MFS Web site (mfs.com). This information is available at https://www.mfs.com/announcements or at mfs.com/openendfunds by choosing the fund’s name and then scrolling to the “Resources” section and clicking on the “Announcements” tab, if any.

Information About Fund Contracts and Legal Claims

The fund has entered into contractual arrangements with an investment adviser, administrator, distributor, shareholder servicing agent, and custodian who each provide services to the fund. Unless expressly stated otherwise, shareholders are not parties to, or intended beneficiaries of these contractual arrangements, and these contractual arrangements are not intended to create any shareholder right to enforce them against the service providers or to seek any remedy under them against the service providers, either directly or on behalf of the fund.

Under the Trust’s By-Laws and Declaration of Trust, any claims asserted against or on behalf of the MFS Funds, including claims against Trustees and Officers, must be brought in state and federal courts located within the Commonwealth of Massachusetts.

Federal Tax Information (unaudited)

The fund will notify shareholders of amounts for use in preparing 2022 income tax forms in January 2023. The following information is provided pursuant to provisions of the Internal Revenue Code.

The fund designates the maximum amount allowable as qualified dividend income eligible to be taxed at the same rate as long-term capital gain.

The fund designates $22,313,000 as capital gain dividends paid during the fiscal year.

The fund designates the maximum amount allowable as Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).

48

rev. 3/16

FACTS WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION?

Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.

What?	The types of personal information we collect and share depend on the product or service you have with us. This information can include:
	• Social Security number and account balances
	• Account transactions and transaction history
	• Checking account information and wire transfer instructions
	When you are no longer our customer, we continue to share your information as described in this notice.

How? All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information	Does MFS share?	Can you limit this sharing?
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus	Yes	No
For our marketing purposes – to offer our products and services to you	No	We don't share
For joint marketing with other financial companies	No	We don't share
For our affiliates' everyday business purposes – information about your transactions and experiences	No	We don't share
For our affiliates' everyday business purposes – information about your creditworthiness	No	We don't share
For nonaffiliates to market to you	No	We don't share

Questions? Call 800-225-2606 or go to mfs.com.

49

Page 2

Who we are
Who is providing this notice?	MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company.

What we do
How does MFS protect my personal information?	To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you.
How does MFS collect my personal information?	We collect your personal information, for example, when you
	• open an account or provide account information
	• direct us to buy securities or direct us to sell your securities
	• make a wire transfer
	We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
Why can't I limit all sharing?	Federal law gives you the right to limit only
	• sharing for affiliates' everyday business purposes – information about your creditworthiness
	• affiliates from using your information to market to you
	• sharing for nonaffiliates to market to you
	State laws and individual companies may give you additional rights to limit sharing.

Definitions
Affiliates	Companies related by common ownership or control. They can be financial and nonfinancial companies.
	• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice.
Nonaffiliates	Companies not related by common ownership or control. They can be financial and nonfinancial companies.
	• MFS does not share with nonaffiliates so they can market to you.
Joint marketing	A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
	• MFS doesn't jointly market.

Other important information

If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours.

50

Save paper with eDelivery.

MFS^® will send you prospectuses, reports, and proxies directly via e-mail so you will get information faster with less mailbox clutter.

To sign up:

1. Go to mfs.com.

2. Log in via MFS^® Access.

3. Select eDelivery.

If you own your MFS fund shares through a financial institution or a retirement plan, MFS^® TALK, MFS^® Access, or eDelivery may not be available to you.

CONTACT

WEB SITE

mfs.com

MFS TALK

1-800-637-8255

24 hours a day

ACCOUNT SERVICE AND LITERATURE

Shareholders

1-800-225-2606

Financial advisors

1-800-343-2829

Retirement plan services

1-800-637-1255

MAILING ADDRESS

MFS Service Center, Inc.

P.O. Box 219341

Kansas City, MO 64121-9341

OVERNIGHT MAIL

MFS Service Center, Inc.

Suite 219341

430 W 7th Street

Kansas City, MO 64105-1407

Item 1(b):

Not applicable

ITEM 2. CODE OF ETHICS.

The Registrant has adopted a Code of Ethics (the "Code") pursuant to Section 406 of the Sarbanes-Oxley Act and as defined in Form N-CSR that applies to the Registrant's principal executive officer and principal financial and accounting officer. During the period covered by this report, the Registrant has not amended any provision in the Code that relates to an element of the Code's definition enumerated in paragraph (b) of Item 2 of this Form N-CSR. During the period covered by this report, the Registrant did not grant a waiver, including an implicit waiver, from any provision of the Code.

A copy of the Code is attached hereto as EX-99.COE.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Messrs. Steven E. Buller, James Kilman, and Clarence Otis, Jr. and Ms. Maryanne L. Roepke, members of the Audit Committee, have been determined by the Board of Trustees in their reasonable business judgment to meet the definition of "audit committee financial expert" as such term is defined in Form N-CSR. In addition, Messrs. Buller, Kilman, and Otis and Ms. Roepke are "independent" members of the Audit Committee (as such term has been defined by the Securities and Exchange Commission in regulations implementing Section 407 of the Sarbanes-Oxley Act of 2002). The Securities and Exchange Commission has stated that the designation of a person as an audit committee financial expert pursuant to this Item 3 on the Form N-CSR does not impose on such a person any duties, obligations or liability that are greater than the duties, obligations or liability imposed on such person as a member of the Audit Committee and the Board of Trustees in the absence of such designation or identification.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

The Board of Trustees has appointed Ernst & Young LLP ("E&Y") to serve as independent accountants to each series of the Registrant. The tables below set forth the audit fees billed to the series of the Registrant with a fiscal year end of August 31, 2021 (the "Fund") as well as fees for non-audit services provided to the Fund and/or to the Fund's investment adviser, Massachusetts Financial Services Company ("MFS"), and to various entities either controlling, controlled by, or under common control with MFS that provide ongoing services to the Fund ("MFS Related Entities").

For the fiscal years ended August 31, 2022 and 2021, audit fees billed to the Fund by E&Y were as follows:

Fees Billed by E&Y:	Audit Fees
	2022	2021
MFS Global Real Estate Fund	56,220	53,380

For the fiscal years ended August 31, 2022 and 2021, fees billed by E&Y for audit-related, tax and other services provided to the Fund and for audit-related, tax and other services provided to MFS and MFS Related Entities were as follows:

Fees Billed by E&Y			Audit-Related Fees1			Tax Fees2			All Other Fees3
			2022		2021	2022	2021		2022	2021
To MFS Global			0		0	644	10,936		383	1,434
Real Estate Fund
Fees Billed by E&Y			Audit-Related Fees1			Tax Fees2			All Other Fees3
			2022		2021	2022	2021		2022	20214
To MFS and MFS			662,511		1,668,649	0	0		111,415	110,620
Related	Entities	of
MFS
Global	Real Estate
Fund*
Fees Billed by E&Y				Aggregate Fees for Non-audit Services
				2022				20214
To MFS Global		Real	Estate	955,383				2,058,068
Fund,
MFS and MFS Related Entities #

*This amount reflects the fees billed to MFS and MFS Related Entities for non-audit services relating directly to the operations and financial reporting of the Funds (portions of which services also related to the operations and financial reporting of other funds within the MFS Funds complex).

# This amount reflects the aggregate fees billed by E&Y for non-audit services rendered to the Funds and for non-audit services rendered to MFS and the MFS Related Entities.

1 The fees included under "Audit-Related Fees" are fees related to assurance and related services that are reasonably related to the performance of the audit or review of financial statements, but not reported under ''Audit Fees,'' including accounting consultations, agreed-upon procedure reports, attestation reports, comfort letters and internal control reviews.

2 The fees included under "Tax Fees" are fees associated with tax compliance, tax advice and tax planning, including services relating to the filing or amendment of federal, state or local income tax returns, regulated investment company qualification reviews and tax distribution and analysis.

3 The fees under "All Other Fees" are fees for products and services provided by E&Y other than those reported under "Audit Fees," "Audit-Related Fees" and "Tax Fees", including fees for services related to reviews of internal controls and Rule 38a-1 compliance program.

4 Certain fees reported in 2021 have been restated in this filing from those reported in the Registrant's filing for the reporting period ended August 31, 2021.

Item 4(e)(1):

Set forth below are the policies and procedures established by the Audit Committee of the Board of Trustees relating to the pre-approval of audit and non-audit related services:

To the extent required by applicable law, pre-approval by the Audit Committee of the Board is needed for all audit and permissible non-audit services rendered to the Fund and all permissible non-audit services rendered to MFS or MFS Related Entities if the services relate directly to the operations and financial reporting of the Registrant. Pre-approval is

currently on an engagement-by-engagement basis. In the event pre-approval of such services is necessary between regular meetings of the Audit Committee and it is not practical to wait to seek pre-approval at the next regular meeting of the Audit Committee, pre-approval of such services may be referred to the Chair of the Audit Committee for approval; provided that the Chair may not pre-approve any individual engagement for such services exceeding $50,000 or multiple engagements for such services in the aggregate exceeding $100,000 in each period between regular meetings of the Audit Committee. Any engagement pre-approved by the Chair between regular meetings of the Audit Committee shall be presented for ratification by the entire Audit Committee at its next regularly scheduled meeting.

Item 4(e)(2):

None, or 0%, of the services relating to the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund and MFS and MFS Related Entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).

Item 4(f):

Not applicable.

Item 4(h):

The Registrant's Audit Committee has considered whether the provision by a Registrant's independent registered public accounting firm of non-audit services to MFS and MFS Related Entities that were not pre-approved by the Committee (because such services did not relate directly to the operations and financial reporting of the Registrant) was compatible with maintaining the independence of the independent registered public accounting firm as the Registrant's principal auditors.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable to the Registrant.

ITEM 6. INVESTMENTS

A schedule of investments of MFS Global Real Estate Fund is included as part of the report to shareholders of such series under Item 1(a) of this Form N-CSR.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the Registrant.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the Registrant.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable to the Registrant.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There were no material changes to the procedures by which shareholders may send recommendations to the Board for nominees to the Registrant's Board since the Registrant last provided disclosure as to such procedures in response to the requirements of Item 407 (c)(2)(iv) of Regulation S-K or this Item.

ITEM 11. CONTROLS AND PROCEDURES.

(a)Based upon their evaluation of the effectiveness of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")) as conducted within 90 days of the filing date of this report on Form N-CSR, the registrant's principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b)There were no changes in the registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by the report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the Registrant.

ITEM 13. EXHIBITS.

(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Attached hereto as EX-99.COE.

(2)A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2): Attached hereto as EX-99.302CERT.

(3)Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable.

(4)Change in the registrant's independent public accountant. Not applicable.

(b)If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed "filed" for the purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. Attached hereto as EX-99.906CERT.

Notice

A copy of the Amended and Restated Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) MFS SERIES TRUST XIII

By (Signature and Title)*	/S/ DAVID L. DILORENZO
	David L. DiLorenzo, President
Date: October 17, 2022

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*	/S/ DAVID L. DILORENZO
	David L. DiLorenzo, President (Principal Executive Officer)
Date: October 17, 2022
By (Signature and Title)*	/S/ JAMES O. YOST
	James O. Yost, Treasurer (Principal Financial Officer and
	Accounting Officer)
Date: October 17, 2022

* Print name and title of each signing officer under his or her signature.