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This fund has outperformed with stocks that -2-

Here are total returns for the first quarter of 2024 and annualized returns for longer periods for the fund and the MSCI EAFE Small Cap Index, with reinvested dividends net of taxes on dividends withheld by non-U.S. governments, through March 31

   Fund share class or index                                   Ticker   First quarter of 2024  One year  Three years  Five years  From Harbor Capital International Small Cap Fund's launch on Feb. 1, 2016 
   Harbor International Small Cap Fund - Institutional Class   HAISX                     2.1%      6.1%         2.8%        7.4%                                                                       7.9% 
   Harbor International Small Cap Fund - Retirement Class      HNISX                     2.1%      6.2%         2.9%        7.4%                                                                       7.9% 
   Harbor International Small Cap Fund - Investor Class        HIISX                     2.0%      5.7%         2.4%        7.0%                                                                       7.5% 
   MSCI EAFE Index Index with net dividends reinvested                           2.4%     10.5%        -1.4%        4.9%                                                                       6.6% 
                                                                                                                                                                            Source: Harbor Capital Advisors 

The four-star ratings from Morningstar for the the fund's Institutional shares HAISX and the Retirement shares HNISX and the three-star rating for the Investor share class HIISX reflect the classes' different expense ratios.

Net annual expenses for the Institutional shares are 0.90% of assets under management. The net expense ratios are 0.82% for the Retirement shares and 1.26% for the Investor shares. For all share classes, the current net expense ratios are after a 0.17% waiver of expenses that Harbor Capital Advisors will have in place through February 2025.

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-Philip van Doorn

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04-13-24 0641ET

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