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
811-21779
JOHN HANCOCK FUNDS II
(Exact name of registrant as specified in charter)

200 BERKELEY STREET, BOSTON, MA 02116
(Address of principal executive offices) (Zip code)

SALVATORE SCHIAVONE
TREASURER
200 BERKELEY STREET
BOSTON, MA 02116
(Name and address of agent for service)
Registrant's telephone number, including area code:
(617) 543-9634
Date of fiscal year end:
August 31
Date of reporting period:
August 31, 2026
ITEM 1. REPORTS TO STOCKHOLDERS
The Registrant prepared the following annual reports to shareholders for the year ended August 31, 2026:
  • John Hancock Equity Income Fund
  • John Hancock Fundamental All Cap Core Fund
  • John Hancock Global Equity Fund
  • John Hancock Multi-Asset Absolute Return Fund
Manulife JH front rebranded logo-TSR and FS
John Hancock Equity Income Fund
Class 1/JIEMX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Equity Income Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/underlying-funds. You can also request this information by contacting us at 800-344-1029.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Equity Income Fund
(Class 1/JIEMX)
$86 0.77%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Equity Income Fund (Class 1/JIEMX) returned 24.00% for the year ended August 31, 2026. U.S. equities delivered a robust gain in the annual period, albeit with a brief stretch of weakness in March following the start of the conflict in Iran. Investors were encouraged by the highly favorable backdrop of healthy economic growth trends, strong corporate earnings, and supportive U.S. Federal Reserve policy. The value style outpaced the broader market, providing a tailwind for the fund.
TOP PERFORMANCE CONTRIBUTORS
Information technology | The fund’s holdings in the sector performed very well as a group and were the largest contributor to its absolute return. A number of semiconductor stocks benefiting from the artificial intelligence infrastructure buildout, including Samsung Electronics Company, Ltd., Applied Materials, Inc., Advanced Micro Devices, Inc., and Intel Corp., were the top contributors in both the sector and the fund as a whole.
Financials and health care | Citigroup, Inc. and Merck & Company, Inc. were key contributors in the two sectors, respectively.
Industrials and energy | The railway stock CSX Corp. was the top performer in industrials, and TotalEnergies SE led the way in energy.


TOP PERFORMANCE DETRACTORS
Real estate | Some of the fund’s positions in the sector finished with modest losses, due in part to rising long-term bond yields.
Consumer staples | Several holdings lost ground on concerns that the companies would be unable to pass along higher input costs to consumers. Kimberly-Clark Corp. was the largest detractor in the sector.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Equity Income Fund (Class 1/JIEMX) 24.00% 10.70% 11.18%
Russell 1000 Index 19.77% 12.10% 15.13%
Russell 1000 Value Index 29.72% 11.84% 11.76%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $513,534,492
Total number of portfolio holdings 117
Total advisory fees paid (net) $3,753,316
Portfolio turnover rate 30%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.3%
Amazon.com, Inc. 5.9%
Apple, Inc. 4.3%
MetLife, Inc. 2.2%
The Charles Schwab Corp. 1.8%
JPMorgan Chase & Co. 1.8%
TotalEnergies SE 1.8%
The Southern Company 1.7%
ConocoPhillips 1.6%
Citigroup, Inc. 1.6%
Sector Composition
Financials 19.8%
Information technology 16.8%
Health care 13.5%
Industrials 12.4%
Energy 9.0%
Consumer discretionary 7.9%
Consumer staples 6.2%
Utilities 4.9%
Materials 3.2%
Real estate 2.9%
Communication services 2.7%
Short-term investments and other 0.7%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
Underlying site QR code
At jhinvestments.com/underlying-funds, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889498

458A-1

8/26

10/26

John Hancock Equity Income Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Equity Income Fund
Class A/JHEIX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Equity Income Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Equity Income Fund
(Class A/JHEIX)
$126 1.13%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Equity Income Fund (Class A/JHEIX) returned 23.48% (excluding sales charges) for the year ended August 31, 2026. U.S. equities delivered a robust gain in the annual period, albeit with a brief stretch of weakness in March following the start of the conflict in Iran. Investors were encouraged by the highly favorable backdrop of healthy economic growth trends, strong corporate earnings, and supportive U.S. Federal Reserve policy. The value style outpaced the broader market, providing a tailwind for the fund.
TOP PERFORMANCE CONTRIBUTORS
Information technology | The fund’s holdings in the sector performed very well as a group and were the largest contributor to its absolute return. A number of semiconductor stocks benefiting from the artificial intelligence infrastructure buildout, including Samsung Electronics Company, Ltd., Applied Materials, Inc., Advanced Micro Devices, Inc., and Intel Corp., were the top contributors in both the sector and the fund as a whole.
Financials and health care | Citigroup, Inc. and Merck & Company, Inc. were key contributors in the two sectors, respectively.
Industrials and energy | The railway stock CSX Corp. was the top performer in industrials, and TotalEnergies SE led the way in energy.


TOP PERFORMANCE DETRACTORS
Real estate | Some of the fund’s positions in the sector finished with modest losses, due in part to rising long-term bond yields.
Consumer staples | Several holdings lost ground on concerns that the companies would be unable to pass along higher input costs to consumers. Kimberly-Clark Corp. was the largest detractor in the sector.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Equity Income Fund (Class A/JHEIX) 17.30% 9.15% 10.21%
Equity Income Fund (Class A/JHEIX)—excluding sales charge 23.48% 10.28% 10.78%
Russell 1000 Index 19.77% 12.10% 15.13%
Russell 1000 Value Index 29.72% 11.84% 11.76%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 5.00%. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $513,534,492
Total number of portfolio holdings 117
Total advisory fees paid (net) $3,753,316
Portfolio turnover rate 30%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.3%
Amazon.com, Inc. 5.9%
Apple, Inc. 4.3%
MetLife, Inc. 2.2%
The Charles Schwab Corp. 1.8%
JPMorgan Chase & Co. 1.8%
TotalEnergies SE 1.8%
The Southern Company 1.7%
ConocoPhillips 1.6%
Citigroup, Inc. 1.6%
Sector Composition
Financials 19.8%
Information technology 16.8%
Health care 13.5%
Industrials 12.4%
Energy 9.0%
Consumer discretionary 7.9%
Consumer staples 6.2%
Utilities 4.9%
Materials 3.2%
Real estate 2.9%
Communication services 2.7%
Short-term investments and other 0.7%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889498

458A-A

8/26

10/26

John Hancock Equity Income Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Equity Income Fund
Class C/JHERX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Equity Income Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Equity Income Fund
(Class C/JHERX)
$204 1.83%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Equity Income Fund (Class C/JHERX) returned 22.63% (excluding sales charges) for the year ended August 31, 2026. U.S. equities delivered a robust gain in the annual period, albeit with a brief stretch of weakness in March following the start of the conflict in Iran. Investors were encouraged by the highly favorable backdrop of healthy economic growth trends, strong corporate earnings, and supportive U.S. Federal Reserve policy. The value style outpaced the broader market, providing a tailwind for the fund.
TOP PERFORMANCE CONTRIBUTORS
Information technology | The fund’s holdings in the sector performed very well as a group and were the largest contributor to its absolute return. A number of semiconductor stocks benefiting from the artificial intelligence infrastructure buildout, including Samsung Electronics Company, Ltd., Applied Materials, Inc., Advanced Micro Devices, Inc., and Intel Corp., were the top contributors in both the sector and the fund as a whole.
Financials and health care | Citigroup, Inc. and Merck & Company, Inc. were key contributors in the two sectors, respectively.
Industrials and energy | The railway stock CSX Corp. was the top performer in industrials, and TotalEnergies SE led the way in energy.


TOP PERFORMANCE DETRACTORS
Real estate | Some of the fund’s positions in the sector finished with modest losses, due in part to rising long-term bond yields.
Consumer staples | Several holdings lost ground on concerns that the companies would be unable to pass along higher input costs to consumers. Kimberly-Clark Corp. was the largest detractor in the sector.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Equity Income Fund (Class C/JHERX) 21.84% 9.51% 10.00%
Equity Income Fund (Class C/JHERX)—excluding sales charge 22.63% 9.51% 10.00%
Russell 1000 Index 19.77% 12.10% 15.13%
Russell 1000 Value Index 29.72% 11.84% 11.76%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Class C shares sold within one year of purchase are subject to a 1.00% contingent deferred sales charge. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $513,534,492
Total number of portfolio holdings 117
Total advisory fees paid (net) $3,753,316
Portfolio turnover rate 30%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.3%
Amazon.com, Inc. 5.9%
Apple, Inc. 4.3%
MetLife, Inc. 2.2%
The Charles Schwab Corp. 1.8%
JPMorgan Chase & Co. 1.8%
TotalEnergies SE 1.8%
The Southern Company 1.7%
ConocoPhillips 1.6%
Citigroup, Inc. 1.6%
Sector Composition
Financials 19.8%
Information technology 16.8%
Health care 13.5%
Industrials 12.4%
Energy 9.0%
Consumer discretionary 7.9%
Consumer staples 6.2%
Utilities 4.9%
Materials 3.2%
Real estate 2.9%
Communication services 2.7%
Short-term investments and other 0.7%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889498

458A-C

8/26

10/26

John Hancock Equity Income Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Fundamental All Cap Core Fund
Class A/JFCAX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Fundamental All Cap Core Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Fundamental All Cap Core Fund
(Class A/JFCAX)
$116 1.12%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Fundamental All Cap Core Fund (Class A/JFCAX) returned 7.10% (excluding sales charges) for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a substantial rally for U.S. stocks, driven by stronger-than-expected corporate profits, positive economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Alphabet, Inc. | The online advertising and search company experienced strong growth in its cloud services business, resulting primarily from increasing AI workloads.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.


TOP PERFORMANCE DETRACTORS
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.
Group 1 Automotive, Inc. | Depressed auto sales volumes weighed on the stock of this car dealership group amid high vehicle prices and financing rates.
Workday, Inc. | The maker of human resources software came under pressure from fears about potential decelerating revenue growth due to competition from AI.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Fundamental All Cap Core Fund (Class A/JFCAX) 1.75% 6.50% 13.02%
Fundamental All Cap Core Fund (Class A/JFCAX)—excluding sales charge 7.10% 7.60% 13.61%
Russell 3000 Index 20.10% 11.80% 14.84%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 5.00%. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $433,735,105
Total number of portfolio holdings 49
Total advisory fees paid (net) $3,156,201
Portfolio turnover rate 42%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 9.2%
Amazon.com, Inc. 7.5%
Broadcom, Inc. 4.5%
Alphabet, Inc., Class A 4.5%
Meta Platforms, Inc., Class A 4.4%
KKR & Company, Inc. 4.4%
Taiwan Semiconductor Manufacturing Company, Ltd., ADR 3.9%
NVIDIA Corp. 3.7%
Roper Technologies, Inc. 3.2%
Cheniere Energy, Inc. 2.8%
Sector Composition
Information technology 32.1%
Consumer discretionary 17.1%
Communication services 14.5%
Health care 13.9%
Financials 8.6%
Industrials 5.2%
Energy 2.8%
Real estate 2.7%
Materials 1.7%
Consumer staples 1.0%
Short-term investments and other 0.4%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889509

376A-A

8/26

10/26

John Hancock Fundamental All Cap Core Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Fundamental All Cap Core Fund
Class C/JFCCX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Fundamental All Cap Core Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Fundamental All Cap Core Fund
(Class C/JFCCX)
$188 1.82%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Fundamental All Cap Core Fund (Class C/JFCCX) returned 6.33% (excluding sales charges) for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a substantial rally for U.S. stocks, driven by stronger-than-expected corporate profits, positive economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Alphabet, Inc. | The online advertising and search company experienced strong growth in its cloud services business, resulting primarily from increasing AI workloads.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.


TOP PERFORMANCE DETRACTORS
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.
Group 1 Automotive, Inc. | Depressed auto sales volumes weighed on the stock of this car dealership group amid high vehicle prices and financing rates.
Workday, Inc. | The maker of human resources software came under pressure from fears about potential decelerating revenue growth due to competition from AI.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Fundamental All Cap Core Fund (Class C/JFCCX) 5.38% 6.84% 12.81%
Fundamental All Cap Core Fund (Class C/JFCCX)—excluding sales charge 6.33% 6.84% 12.81%
Russell 3000 Index 20.10% 11.80% 14.84%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Class C shares sold within one year of purchase are subject to a 1.00% contingent deferred sales charge. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $433,735,105
Total number of portfolio holdings 49
Total advisory fees paid (net) $3,156,201
Portfolio turnover rate 42%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 9.2%
Amazon.com, Inc. 7.5%
Broadcom, Inc. 4.5%
Alphabet, Inc., Class A 4.5%
Meta Platforms, Inc., Class A 4.4%
KKR & Company, Inc. 4.4%
Taiwan Semiconductor Manufacturing Company, Ltd., ADR 3.9%
NVIDIA Corp. 3.7%
Roper Technologies, Inc. 3.2%
Cheniere Energy, Inc. 2.8%
Sector Composition
Information technology 32.1%
Consumer discretionary 17.1%
Communication services 14.5%
Health care 13.9%
Financials 8.6%
Industrials 5.2%
Energy 2.8%
Real estate 2.7%
Materials 1.7%
Consumer staples 1.0%
Short-term investments and other 0.4%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889509

376A-C

8/26

10/26

John Hancock Fundamental All Cap Core Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Fundamental All Cap Core Fund
Class I/JFCIX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Fundamental All Cap Core Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Fundamental All Cap Core Fund
(Class I/JFCIX)
$85 0.82%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Fundamental All Cap Core Fund (Class I/JFCIX) returned 7.39% for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a substantial rally for U.S. stocks, driven by stronger-than-expected corporate profits, positive economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Alphabet, Inc. | The online advertising and search company experienced strong growth in its cloud services business, resulting primarily from increasing AI workloads.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.


TOP PERFORMANCE DETRACTORS
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.
Group 1 Automotive, Inc. | Depressed auto sales volumes weighed on the stock of this car dealership group amid high vehicle prices and financing rates.
Workday, Inc. | The maker of human resources software came under pressure from fears about potential decelerating revenue growth due to competition from AI.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $250,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $250,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Fundamental All Cap Core Fund (Class I/JFCIX) 7.39% 7.91% 13.95%
Russell 3000 Index 20.10% 11.80% 14.84%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $433,735,105
Total number of portfolio holdings 49
Total advisory fees paid (net) $3,156,201
Portfolio turnover rate 42%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 9.2%
Amazon.com, Inc. 7.5%
Broadcom, Inc. 4.5%
Alphabet, Inc., Class A 4.5%
Meta Platforms, Inc., Class A 4.4%
KKR & Company, Inc. 4.4%
Taiwan Semiconductor Manufacturing Company, Ltd., ADR 3.9%
NVIDIA Corp. 3.7%
Roper Technologies, Inc. 3.2%
Cheniere Energy, Inc. 2.8%
Sector Composition
Information technology 32.1%
Consumer discretionary 17.1%
Communication services 14.5%
Health care 13.9%
Financials 8.6%
Industrials 5.2%
Energy 2.8%
Real estate 2.7%
Materials 1.7%
Consumer staples 1.0%
Short-term investments and other 0.4%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889509

376A-I

8/26

10/26

John Hancock Fundamental All Cap Core Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Fundamental All Cap Core Fund
Class R2/JFACX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Fundamental All Cap Core Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Fundamental All Cap Core Fund
(Class R2/JFACX)
$125 1.21%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Fundamental All Cap Core Fund (Class R2/JFACX) returned 6.97% for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a substantial rally for U.S. stocks, driven by stronger-than-expected corporate profits, positive economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Alphabet, Inc. | The online advertising and search company experienced strong growth in its cloud services business, resulting primarily from increasing AI workloads.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.


TOP PERFORMANCE DETRACTORS
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.
Group 1 Automotive, Inc. | Depressed auto sales volumes weighed on the stock of this car dealership group amid high vehicle prices and financing rates.
Workday, Inc. | The maker of human resources software came under pressure from fears about potential decelerating revenue growth due to competition from AI.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Fundamental All Cap Core Fund (Class R2/JFACX) 6.97% 7.50% 13.53%
Russell 3000 Index 20.10% 11.80% 14.84%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $433,735,105
Total number of portfolio holdings 49
Total advisory fees paid (net) $3,156,201
Portfolio turnover rate 42%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 9.2%
Amazon.com, Inc. 7.5%
Broadcom, Inc. 4.5%
Alphabet, Inc., Class A 4.5%
Meta Platforms, Inc., Class A 4.4%
KKR & Company, Inc. 4.4%
Taiwan Semiconductor Manufacturing Company, Ltd., ADR 3.9%
NVIDIA Corp. 3.7%
Roper Technologies, Inc. 3.2%
Cheniere Energy, Inc. 2.8%
Sector Composition
Information technology 32.1%
Consumer discretionary 17.1%
Communication services 14.5%
Health care 13.9%
Financials 8.6%
Industrials 5.2%
Energy 2.8%
Real estate 2.7%
Materials 1.7%
Consumer staples 1.0%
Short-term investments and other 0.4%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889509

376A-R2

8/26

10/26

John Hancock Fundamental All Cap Core Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Fundamental All Cap Core Fund
Class R4/JFARX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Fundamental All Cap Core Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Fundamental All Cap Core Fund
(Class R4/JFARX)
$99 0.96%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Fundamental All Cap Core Fund (Class R4/JFARX) returned 7.27% for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a substantial rally for U.S. stocks, driven by stronger-than-expected corporate profits, positive economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Alphabet, Inc. | The online advertising and search company experienced strong growth in its cloud services business, resulting primarily from increasing AI workloads.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.


TOP PERFORMANCE DETRACTORS
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.
Group 1 Automotive, Inc. | Depressed auto sales volumes weighed on the stock of this car dealership group amid high vehicle prices and financing rates.
Workday, Inc. | The maker of human resources software came under pressure from fears about potential decelerating revenue growth due to competition from AI.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Fundamental All Cap Core Fund (Class R4/JFARX) 7.27% 7.83% 13.86%
Russell 3000 Index 20.10% 11.80% 14.84%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $433,735,105
Total number of portfolio holdings 49
Total advisory fees paid (net) $3,156,201
Portfolio turnover rate 42%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 9.2%
Amazon.com, Inc. 7.5%
Broadcom, Inc. 4.5%
Alphabet, Inc., Class A 4.5%
Meta Platforms, Inc., Class A 4.4%
KKR & Company, Inc. 4.4%
Taiwan Semiconductor Manufacturing Company, Ltd., ADR 3.9%
NVIDIA Corp. 3.7%
Roper Technologies, Inc. 3.2%
Cheniere Energy, Inc. 2.8%
Sector Composition
Information technology 32.1%
Consumer discretionary 17.1%
Communication services 14.5%
Health care 13.9%
Financials 8.6%
Industrials 5.2%
Energy 2.8%
Real estate 2.7%
Materials 1.7%
Consumer staples 1.0%
Short-term investments and other 0.4%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
MF5889509
376A-R4
8/26
10/26
John Hancock Fundamental All Cap Core Fund
Manulife JH front rebranded logo-TSR and FS
John Hancock Fundamental All Cap Core Fund
Class R6/JFAIX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Fundamental All Cap Core Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Fundamental All Cap Core Fund
(Class R6/JFAIX)
$75 0.72%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Fundamental All Cap Core Fund (Class R6/JFAIX) returned 7.51% for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a substantial rally for U.S. stocks, driven by stronger-than-expected corporate profits, positive economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Alphabet, Inc. | The online advertising and search company experienced strong growth in its cloud services business, resulting primarily from increasing AI workloads.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.


TOP PERFORMANCE DETRACTORS
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.
Group 1 Automotive, Inc. | Depressed auto sales volumes weighed on the stock of this car dealership group amid high vehicle prices and financing rates.
Workday, Inc. | The maker of human resources software came under pressure from fears about potential decelerating revenue growth due to competition from AI.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $1,000,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $1,000,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Fundamental All Cap Core Fund (Class R6/JFAIX) 7.51% 8.04% 14.07%
Russell 3000 Index 20.10% 11.80% 14.84%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $433,735,105
Total number of portfolio holdings 49
Total advisory fees paid (net) $3,156,201
Portfolio turnover rate 42%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 9.2%
Amazon.com, Inc. 7.5%
Broadcom, Inc. 4.5%
Alphabet, Inc., Class A 4.5%
Meta Platforms, Inc., Class A 4.4%
KKR & Company, Inc. 4.4%
Taiwan Semiconductor Manufacturing Company, Ltd., ADR 3.9%
NVIDIA Corp. 3.7%
Roper Technologies, Inc. 3.2%
Cheniere Energy, Inc. 2.8%
Sector Composition
Information technology 32.1%
Consumer discretionary 17.1%
Communication services 14.5%
Health care 13.9%
Financials 8.6%
Industrials 5.2%
Energy 2.8%
Real estate 2.7%
Materials 1.7%
Consumer staples 1.0%
Short-term investments and other 0.4%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889509

376A-R6

8/26

10/26

John Hancock Fundamental All Cap Core Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Global Equity Fund
Class A/JHGEX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Global Equity Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Global Equity Fund
(Class A/JHGEX)
$138 1.28%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Global Equity Fund (Class A/JHGEX) returned 14.87% (excluding sales charges) for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a healthy rally in global stock markets, driven by stronger-than-expected corporate profits, resilient global economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Information technology | The information technology sector was the fund’s top-performing sector.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.


TOP PERFORMANCE DETRACTORS
Consumer discretionary | The consumer discretionary sector was one of two sectors in the portfolio to decline for the period amid weaker consumer sentiment in many regions of the globe.
AutoZone, Inc. | Softer revenue growth outside of the U.S. and increased competition domestically weighed on shares of the auto parts retailer.
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Global Equity Fund (Class A/JHGEX) 9.13% 7.03% 9.31%
Global Equity Fund (Class A/JHGEX)—excluding sales charge 14.87% 8.14% 9.88%
MSCI World Index 20.37% 11.21% 13.01%
MSCI World Value Index 23.41% 11.36% 10.32%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 5.00%. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $1,091,712,086
Total number of portfolio holdings 66
Total advisory fees paid (net) $7,374,571
Portfolio turnover rate 82%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.1%
Alphabet, Inc., Class A 3.0%
Taiwan Semiconductor Manufacturing Company, Ltd. 2.1%
Sumitomo Mitsui Trust Group, Inc. 2.1%
McKesson Corp. 2.1%
Sony Group Corp. 2.1%
Anheuser-Busch InBev SA/NV 2.0%
CRH PLC 2.0%
British American Tobacco PLC 2.0%
Bank of Ireland Group PLC 2.0%
Sector Composition
Financials 19.4%
Information technology 13.8%
Industrials 10.3%
Health care 9.7%
Materials 8.9%
Consumer discretionary 8.8%
Communication services 8.2%
Consumer staples 7.9%
Energy 6.9%
Utilities 3.8%
Real estate 1.0%
Short-term investments and other 1.3%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889487

425A-A

8/26

10/26

John Hancock Global Equity Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Global Equity Fund
Class C/JGECX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Global Equity Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Global Equity Fund
(Class C/JGECX)
$212 1.98%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Global Equity Fund (Class C/JGECX) returned 14.14% (excluding sales charges) for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a healthy rally in global stock markets, driven by stronger-than-expected corporate profits, resilient global economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Information technology | The information technology sector was the fund’s top-performing sector.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.


TOP PERFORMANCE DETRACTORS
Consumer discretionary | The consumer discretionary sector was one of two sectors in the portfolio to decline for the period amid weaker consumer sentiment in many regions of the globe.
AutoZone, Inc. | Softer revenue growth outside of the U.S. and increased competition domestically weighed on shares of the auto parts retailer.
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Global Equity Fund (Class C/JGECX) 13.14% 7.38% 9.11%
Global Equity Fund (Class C/JGECX)—excluding sales charge 14.14% 7.38% 9.11%
MSCI World Index 20.37% 11.21% 13.01%
MSCI World Value Index 23.41% 11.36% 10.32%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Class C shares sold within one year of purchase are subject to a 1.00% contingent deferred sales charge. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $1,091,712,086
Total number of portfolio holdings 66
Total advisory fees paid (net) $7,374,571
Portfolio turnover rate 82%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.1%
Alphabet, Inc., Class A 3.0%
Taiwan Semiconductor Manufacturing Company, Ltd. 2.1%
Sumitomo Mitsui Trust Group, Inc. 2.1%
McKesson Corp. 2.1%
Sony Group Corp. 2.1%
Anheuser-Busch InBev SA/NV 2.0%
CRH PLC 2.0%
British American Tobacco PLC 2.0%
Bank of Ireland Group PLC 2.0%
Sector Composition
Financials 19.4%
Information technology 13.8%
Industrials 10.3%
Health care 9.7%
Materials 8.9%
Consumer discretionary 8.8%
Communication services 8.2%
Consumer staples 7.9%
Energy 6.9%
Utilities 3.8%
Real estate 1.0%
Short-term investments and other 1.3%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889487

425A-C

8/26

10/26

John Hancock Global Equity Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Global Equity Fund
Class I/JGEFX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Global Equity Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Global Equity Fund
(Class I/JGEFX)
$106 0.98%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Global Equity Fund (Class I/JGEFX) returned 15.34% for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a healthy rally in global stock markets, driven by stronger-than-expected corporate profits, resilient global economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Information technology | The information technology sector was the fund’s top-performing sector.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.


TOP PERFORMANCE DETRACTORS
Consumer discretionary | The consumer discretionary sector was one of two sectors in the portfolio to decline for the period amid weaker consumer sentiment in many regions of the globe.
AutoZone, Inc. | Softer revenue growth outside of the U.S. and increased competition domestically weighed on shares of the auto parts retailer.
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $250,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $250,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Global Equity Fund (Class I/JGEFX) 15.34% 8.47% 10.21%
MSCI World Index 20.37% 11.21% 13.01%
MSCI World Value Index 23.41% 11.36% 10.32%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $1,091,712,086
Total number of portfolio holdings 66
Total advisory fees paid (net) $7,374,571
Portfolio turnover rate 82%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.1%
Alphabet, Inc., Class A 3.0%
Taiwan Semiconductor Manufacturing Company, Ltd. 2.1%
Sumitomo Mitsui Trust Group, Inc. 2.1%
McKesson Corp. 2.1%
Sony Group Corp. 2.1%
Anheuser-Busch InBev SA/NV 2.0%
CRH PLC 2.0%
British American Tobacco PLC 2.0%
Bank of Ireland Group PLC 2.0%
Sector Composition
Financials 19.4%
Information technology 13.8%
Industrials 10.3%
Health care 9.7%
Materials 8.9%
Consumer discretionary 8.8%
Communication services 8.2%
Consumer staples 7.9%
Energy 6.9%
Utilities 3.8%
Real estate 1.0%
Short-term investments and other 1.3%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889487

425A-I

8/26

10/26

John Hancock Global Equity Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Global Equity Fund
Class NAV
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Global Equity Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/underlying-funds. You can also request this information by contacting us at 800-344-1029.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Global Equity Fund
(Class NAV)
$94 0.87%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Global Equity Fund (Class NAV) returned 15.39% for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a healthy rally in global stock markets, driven by stronger-than-expected corporate profits, resilient global economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Information technology | The information technology sector was the fund’s top-performing sector.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.


TOP PERFORMANCE DETRACTORS
Consumer discretionary | The consumer discretionary sector was one of two sectors in the portfolio to decline for the period amid weaker consumer sentiment in many regions of the globe.
AutoZone, Inc. | Softer revenue growth outside of the U.S. and increased competition domestically weighed on shares of the auto parts retailer.
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Global Equity Fund (Class NAV) 15.39% 8.59% 10.34%
MSCI World Index 20.37% 11.21% 13.01%
MSCI World Value Index 23.41% 11.36% 10.32%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $1,091,712,086
Total number of portfolio holdings 66
Total advisory fees paid (net) $7,374,571
Portfolio turnover rate 82%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.1%
Alphabet, Inc., Class A 3.0%
Taiwan Semiconductor Manufacturing Company, Ltd. 2.1%
Sumitomo Mitsui Trust Group, Inc. 2.1%
McKesson Corp. 2.1%
Sony Group Corp. 2.1%
Anheuser-Busch InBev SA/NV 2.0%
CRH PLC 2.0%
British American Tobacco PLC 2.0%
Bank of Ireland Group PLC 2.0%
Sector Composition
Financials 19.4%
Information technology 13.8%
Industrials 10.3%
Health care 9.7%
Materials 8.9%
Consumer discretionary 8.8%
Communication services 8.2%
Consumer staples 7.9%
Energy 6.9%
Utilities 3.8%
Real estate 1.0%
Short-term investments and other 1.3%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
Underlying site QR code
At jhinvestments.com/underlying-funds, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889487

425A-NAV

8/26

10/26

John Hancock Global Equity Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Global Equity Fund
Class R2/JGERX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Global Equity Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Global Equity Fund
(Class R2/JGERX)
$148 1.38%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Global Equity Fund (Class R2/JGERX) returned 14.88% for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a healthy rally in global stock markets, driven by stronger-than-expected corporate profits, resilient global economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Information technology | The information technology sector was the fund’s top-performing sector.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.


TOP PERFORMANCE DETRACTORS
Consumer discretionary | The consumer discretionary sector was one of two sectors in the portfolio to decline for the period amid weaker consumer sentiment in many regions of the globe.
AutoZone, Inc. | Softer revenue growth outside of the U.S. and increased competition domestically weighed on shares of the auto parts retailer.
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Global Equity Fund (Class R2/JGERX) 14.88% 8.06% 9.81%
MSCI World Index 20.37% 11.21% 13.01%
MSCI World Value Index 23.41% 11.36% 10.32%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $1,091,712,086
Total number of portfolio holdings 66
Total advisory fees paid (net) $7,374,571
Portfolio turnover rate 82%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.1%
Alphabet, Inc., Class A 3.0%
Taiwan Semiconductor Manufacturing Company, Ltd. 2.1%
Sumitomo Mitsui Trust Group, Inc. 2.1%
McKesson Corp. 2.1%
Sony Group Corp. 2.1%
Anheuser-Busch InBev SA/NV 2.0%
CRH PLC 2.0%
British American Tobacco PLC 2.0%
Bank of Ireland Group PLC 2.0%
Sector Composition
Financials 19.4%
Information technology 13.8%
Industrials 10.3%
Health care 9.7%
Materials 8.9%
Consumer discretionary 8.8%
Communication services 8.2%
Consumer staples 7.9%
Energy 6.9%
Utilities 3.8%
Real estate 1.0%
Short-term investments and other 1.3%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889487

425A-R2

8/26

10/26

John Hancock Global Equity Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Global Equity Fund
Class R4/JGETX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Global Equity Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Global Equity Fund
(Class R4/JGETX)
$122 1.13%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Global Equity Fund (Class R4/JGETX) returned 15.11% for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a healthy rally in global stock markets, driven by stronger-than-expected corporate profits, resilient global economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Information technology | The information technology sector was the fund’s top-performing sector.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.


TOP PERFORMANCE DETRACTORS
Consumer discretionary | The consumer discretionary sector was one of two sectors in the portfolio to decline for the period amid weaker consumer sentiment in many regions of the globe.
AutoZone, Inc. | Softer revenue growth outside of the U.S. and increased competition domestically weighed on shares of the auto parts retailer.
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Global Equity Fund (Class R4/JGETX) 15.11% 8.36% 10.13%
MSCI World Index 20.37% 11.21% 13.01%
MSCI World Value Index 23.41% 11.36% 10.32%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $1,091,712,086
Total number of portfolio holdings 66
Total advisory fees paid (net) $7,374,571
Portfolio turnover rate 82%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.1%
Alphabet, Inc., Class A 3.0%
Taiwan Semiconductor Manufacturing Company, Ltd. 2.1%
Sumitomo Mitsui Trust Group, Inc. 2.1%
McKesson Corp. 2.1%
Sony Group Corp. 2.1%
Anheuser-Busch InBev SA/NV 2.0%
CRH PLC 2.0%
British American Tobacco PLC 2.0%
Bank of Ireland Group PLC 2.0%
Sector Composition
Financials 19.4%
Information technology 13.8%
Industrials 10.3%
Health care 9.7%
Materials 8.9%
Consumer discretionary 8.8%
Communication services 8.2%
Consumer staples 7.9%
Energy 6.9%
Utilities 3.8%
Real estate 1.0%
Short-term investments and other 1.3%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889487

425A-R4

8/26

10/26

John Hancock Global Equity Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Global Equity Fund
Class R6/JGEMX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Global Equity Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Global Equity Fund
(Class R6/JGEMX)
$95 0.88%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Global Equity Fund (Class R6/JGEMX) returned 15.40% for the year ended August 31, 2026. Significant factors affecting fund performance during the period included a healthy rally in global stock markets, driven by stronger-than-expected corporate profits, resilient global economic growth, and the continuation of robust capital investment in artificial intelligence (AI) infrastructure.
TOP PERFORMANCE CONTRIBUTORS
Information technology | The information technology sector was the fund’s top-performing sector.
Samsung Electronics Company, Ltd. | Growing global demand for high-bandwidth memory, particularly for usage in AI chips and data centers, helped boost this stock.
Taiwan Semiconductor Manufacturing Company, Ltd. | The chipmaker remained an indispensable component in the global semiconductor supply chain as AI-fueled demand remained robust.


TOP PERFORMANCE DETRACTORS
Consumer discretionary | The consumer discretionary sector was one of two sectors in the portfolio to decline for the period amid weaker consumer sentiment in many regions of the globe.
AutoZone, Inc. | Softer revenue growth outside of the U.S. and increased competition domestically weighed on shares of the auto parts retailer.
Lennar Corp. | The homebuilder struggled due to a sluggish real estate market brought on by homebuyer affordability issues, including relatively high mortgage rates and stubbornly elevated home prices.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $1,000,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $1,000,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Global Equity Fund (Class R6/JGEMX) 15.40% 8.56% 10.32%
MSCI World Index 20.37% 11.21% 13.01%
MSCI World Value Index 23.41% 11.36% 10.32%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $1,091,712,086
Total number of portfolio holdings 66
Total advisory fees paid (net) $7,374,571
Portfolio turnover rate 82%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.1%
Alphabet, Inc., Class A 3.0%
Taiwan Semiconductor Manufacturing Company, Ltd. 2.1%
Sumitomo Mitsui Trust Group, Inc. 2.1%
McKesson Corp. 2.1%
Sony Group Corp. 2.1%
Anheuser-Busch InBev SA/NV 2.0%
CRH PLC 2.0%
British American Tobacco PLC 2.0%
Bank of Ireland Group PLC 2.0%
Sector Composition
Financials 19.4%
Information technology 13.8%
Industrials 10.3%
Health care 9.7%
Materials 8.9%
Consumer discretionary 8.8%
Communication services 8.2%
Consumer staples 7.9%
Energy 6.9%
Utilities 3.8%
Real estate 1.0%
Short-term investments and other 1.3%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889487

425A-R6

8/26

10/26

John Hancock Global Equity Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Multi-Asset Absolute Return Fund
Class A/JHAAX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Multi-Asset Absolute Return Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multi-Asset Absolute Return Fund
(Class A/JHAAX)
$177 1.74%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Multi-Asset Absolute Return Fund (Class A/JHAAX) returned 3.57% (excluding sales charges) for the year ended August 31, 2026. The most significant factors during the reporting period included solid gains in global equity markets, rising interest rates, and currency market conditions.
TOP PERFORMANCE CONTRIBUTORS
Developed market stocks | Equities in developed countries contributed the most to fund performance, benefiting from stronger-than-expected corporate profits and resilient global economic growth.
Cash | A noteworthy level of income was received based on cash return not related to actual holdings.
Value stocks | The fund’s holdings of value-oriented stocks aided performance, particularly amid periods of risk aversion in global equity markets.


TOP PERFORMANCE DETRACTORS
Growth-oriented stocks | Growth stocks underperformed for the reporting period, adversely affected by sector rotation and valuation pressure.
Fixed-income securities | Rising interest rates globally put downward pressure on bond prices.
Foreign currency and futures holdings exposure | The fund’s defensive long/short positions in high-quality foreign currencies and futures holdings weighed on performance.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Multi-Asset Absolute Return Fund (Class A/JHAAX) (1.65)% 1.02% 2.35%
Multi-Asset Absolute Return Fund (Class A/JHAAX)—excluding sales charge 3.57% 2.06% 2.88%
Bloomberg U.S. Aggregate Bond Index 1.89% (0.29)% 1.40%
ICE BofA 0-3 Month U.S. Treasury Bill Index 3.82% 3.72% 2.40%
30% MSCI ACWI/ 70% Bloomberg Global Aggregate Bond (USD Hedged) Index 7.73% 3.66% 5.10%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 5.00%. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $246,306,655
Total number of portfolio holdings 264
Total advisory fees paid (net) $2,724,399
Portfolio turnover rate 144%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Portfolio Composition
Common stocks 61.2%
Information technology 17.3%
Consumer staples 10.0%
Health care 9.6%
Financials 6.7%
Industrials 6.3%
Communication services 4.8%
Consumer discretionary 4.0%
Utilities 1.4%
Materials 1.1%
U.S. Government 31.1%
Other assets and liabilities, net 7.7%
Country Composition
United States 77.8%
Japan 4.4%
France 3.0%
United Kingdom 2.7%
South Korea 1.6%
China 1.6%
Netherlands 1.5%
Taiwan 1.3%
Switzerland 1.2%
Germany 1.2%
Other countries 3.7%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889524

395A-A

8/26

10/26

John Hancock Multi-Asset Absolute Return Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Multi-Asset Absolute Return Fund
Class C/JHACX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Multi-Asset Absolute Return Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multi-Asset Absolute Return Fund
(Class C/JHACX)
$248 2.44%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Multi-Asset Absolute Return Fund (Class C/JHACX) returned 2.93% (excluding sales charges) for the year ended August 31, 2026. The most significant factors during the reporting period included solid gains in global equity markets, rising interest rates, and currency market conditions.
TOP PERFORMANCE CONTRIBUTORS
Developed market stocks | Equities in developed countries contributed the most to fund performance, benefiting from stronger-than-expected corporate profits and resilient global economic growth.
Cash | A noteworthy level of income was received based on cash return not related to actual holdings.
Value stocks | The fund’s holdings of value-oriented stocks aided performance, particularly amid periods of risk aversion in global equity markets.


TOP PERFORMANCE DETRACTORS
Growth-oriented stocks | Growth stocks underperformed for the reporting period, adversely affected by sector rotation and valuation pressure.
Fixed-income securities | Rising interest rates globally put downward pressure on bond prices.
Foreign currency and futures holdings exposure | The fund’s defensive long/short positions in high-quality foreign currencies and futures holdings weighed on performance.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Multi-Asset Absolute Return Fund (Class C/JHACX) 1.93% 1.35% 2.17%
Multi-Asset Absolute Return Fund (Class C/JHACX)—excluding sales charge 2.93% 1.35% 2.17%
Bloomberg U.S. Aggregate Bond Index 1.89% (0.29)% 1.40%
ICE BofA 0-3 Month U.S. Treasury Bill Index 3.82% 3.72% 2.40%
30% MSCI ACWI/ 70% Bloomberg Global Aggregate Bond (USD Hedged) Index 7.73% 3.66% 5.10%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Class C shares sold within one year of purchase are subject to a 1.00% contingent deferred sales charge. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $246,306,655
Total number of portfolio holdings 264
Total advisory fees paid (net) $2,724,399
Portfolio turnover rate 144%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Portfolio Composition
Common stocks 61.2%
Information technology 17.3%
Consumer staples 10.0%
Health care 9.6%
Financials 6.7%
Industrials 6.3%
Communication services 4.8%
Consumer discretionary 4.0%
Utilities 1.4%
Materials 1.1%
U.S. Government 31.1%
Other assets and liabilities, net 7.7%
Country Composition
United States 77.8%
Japan 4.4%
France 3.0%
United Kingdom 2.7%
South Korea 1.6%
China 1.6%
Netherlands 1.5%
Taiwan 1.3%
Switzerland 1.2%
Germany 1.2%
Other countries 3.7%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
MF5889524
395A-C
8/26
10/26
John Hancock Multi-Asset Absolute Return Fund
Manulife JH front rebranded logo-TSR and FS
John Hancock Multi-Asset Absolute Return Fund
Class I/JHAIX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Multi-Asset Absolute Return Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multi-Asset Absolute Return Fund
(Class I/JHAIX)
$147 1.44%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Multi-Asset Absolute Return Fund (Class I/JHAIX) returned 3.88% for the year ended August 31, 2026. The most significant factors during the reporting period included solid gains in global equity markets, rising interest rates, and currency market conditions.
TOP PERFORMANCE CONTRIBUTORS
Developed market stocks | Equities in developed countries contributed the most to fund performance, benefiting from stronger-than-expected corporate profits and resilient global economic growth.
Cash | A noteworthy level of income was received based on cash return not related to actual holdings.
Value stocks | The fund’s holdings of value-oriented stocks aided performance, particularly amid periods of risk aversion in global equity markets.


TOP PERFORMANCE DETRACTORS
Growth-oriented stocks | Growth stocks underperformed for the reporting period, adversely affected by sector rotation and valuation pressure.
Fixed-income securities | Rising interest rates globally put downward pressure on bond prices.
Foreign currency and futures holdings exposure | The fund’s defensive long/short positions in high-quality foreign currencies and futures holdings weighed on performance.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $250,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $250,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Multi-Asset Absolute Return Fund (Class I/JHAIX) 3.88% 2.37% 3.18%
Bloomberg U.S. Aggregate Bond Index 1.89% (0.29)% 1.40%
ICE BofA 0-3 Month U.S. Treasury Bill Index 3.82% 3.72% 2.40%
30% MSCI ACWI/ 70% Bloomberg Global Aggregate Bond (USD Hedged) Index 7.73% 3.66% 5.10%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $246,306,655
Total number of portfolio holdings 264
Total advisory fees paid (net) $2,724,399
Portfolio turnover rate 144%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Portfolio Composition
Common stocks 61.2%
Information technology 17.3%
Consumer staples 10.0%
Health care 9.6%
Financials 6.7%
Industrials 6.3%
Communication services 4.8%
Consumer discretionary 4.0%
Utilities 1.4%
Materials 1.1%
U.S. Government 31.1%
Other assets and liabilities, net 7.7%
Country Composition
United States 77.8%
Japan 4.4%
France 3.0%
United Kingdom 2.7%
South Korea 1.6%
China 1.6%
Netherlands 1.5%
Taiwan 1.3%
Switzerland 1.2%
Germany 1.2%
Other countries 3.7%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889524

395A-I

8/26

10/26

John Hancock Multi-Asset Absolute Return Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Multi-Asset Absolute Return Fund
Class NAV
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Multi-Asset Absolute Return Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/underlying-funds. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multi-Asset Absolute Return Fund
(Class NAV)
$136 1.33%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Multi-Asset Absolute Return Fund (Class NAV) returned 3.94% for the year ended August 31, 2026. The most significant factors during the reporting period included solid gains in global equity markets, rising interest rates, and currency market conditions.
TOP PERFORMANCE CONTRIBUTORS
Developed market stocks | Equities in developed countries contributed the most to fund performance, benefiting from stronger-than-expected corporate profits and resilient global economic growth.
Cash | A noteworthy level of income was received based on cash return not related to actual holdings.
Value stocks | The fund’s holdings of value-oriented stocks aided performance, particularly amid periods of risk aversion in global equity markets.


TOP PERFORMANCE DETRACTORS
Growth-oriented stocks | Growth stocks underperformed for the reporting period, adversely affected by sector rotation and valuation pressure.
Fixed-income securities | Rising interest rates globally put downward pressure on bond prices.
Foreign currency and futures holdings exposure | The fund’s defensive long/short positions in high-quality foreign currencies and futures holdings weighed on performance.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Multi-Asset Absolute Return Fund (Class NAV) 3.94% 2.48% 3.31%
Bloomberg U.S. Aggregate Bond Index 1.89% (0.29)% 1.40%
ICE BofA 0-3 Month U.S. Treasury Bill Index 3.82% 3.72% 2.40%
30% MSCI ACWI/ 70% Bloomberg Global Aggregate Bond (USD Hedged) Index 7.73% 3.66% 5.10%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $246,306,655
Total number of portfolio holdings 264
Total advisory fees paid (net) $2,724,399
Portfolio turnover rate 144%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Portfolio Composition
Common stocks 61.2%
Information technology 17.3%
Consumer staples 10.0%
Health care 9.6%
Financials 6.7%
Industrials 6.3%
Communication services 4.8%
Consumer discretionary 4.0%
Utilities 1.4%
Materials 1.1%
U.S. Government 31.1%
Other assets and liabilities, net 7.7%
Country Composition
United States 77.8%
Japan 4.4%
France 3.0%
United Kingdom 2.7%
South Korea 1.6%
China 1.6%
Netherlands 1.5%
Taiwan 1.3%
Switzerland 1.2%
Germany 1.2%
Other countries 3.7%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
Underlying site QR code
At jhinvestments.com/underlying-funds, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889524

395A-NAV

8/26

10/26

John Hancock Multi-Asset Absolute Return Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Multi-Asset Absolute Return Fund
Class R2/JHARX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Multi-Asset Absolute Return Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multi-Asset Absolute Return Fund
(Class R2/JHARX)
$177 1.74%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Multi-Asset Absolute Return Fund (Class R2/JHARX) returned 3.59% for the year ended August 31, 2026. The most significant factors during the reporting period included solid gains in global equity markets, rising interest rates, and currency market conditions.
TOP PERFORMANCE CONTRIBUTORS
Developed market stocks | Equities in developed countries contributed the most to fund performance, benefiting from stronger-than-expected corporate profits and resilient global economic growth.
Cash | A noteworthy level of income was received based on cash return not related to actual holdings.
Value stocks | The fund’s holdings of value-oriented stocks aided performance, particularly amid periods of risk aversion in global equity markets.


TOP PERFORMANCE DETRACTORS
Growth-oriented stocks | Growth stocks underperformed for the reporting period, adversely affected by sector rotation and valuation pressure.
Fixed-income securities | Rising interest rates globally put downward pressure on bond prices.
Foreign currency and futures holdings exposure | The fund’s defensive long/short positions in high-quality foreign currencies and futures holdings weighed on performance.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Multi-Asset Absolute Return Fund (Class R2/JHARX) 3.59% 2.06% 2.84%
Bloomberg U.S. Aggregate Bond Index 1.89% (0.29)% 1.40%
ICE BofA 0-3 Month U.S. Treasury Bill Index 3.82% 3.72% 2.40%
30% MSCI ACWI/ 70% Bloomberg Global Aggregate Bond (USD Hedged) Index 7.73% 3.66% 5.10%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $246,306,655
Total number of portfolio holdings 264
Total advisory fees paid (net) $2,724,399
Portfolio turnover rate 144%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Portfolio Composition
Common stocks 61.2%
Information technology 17.3%
Consumer staples 10.0%
Health care 9.6%
Financials 6.7%
Industrials 6.3%
Communication services 4.8%
Consumer discretionary 4.0%
Utilities 1.4%
Materials 1.1%
U.S. Government 31.1%
Other assets and liabilities, net 7.7%
Country Composition
United States 77.8%
Japan 4.4%
France 3.0%
United Kingdom 2.7%
South Korea 1.6%
China 1.6%
Netherlands 1.5%
Taiwan 1.3%
Switzerland 1.2%
Germany 1.2%
Other countries 3.7%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889524

395A-R2

8/26

10/26

John Hancock Multi-Asset Absolute Return Fund

Manulife JH front rebranded logo-TSR and FS
John Hancock Multi-Asset Absolute Return Fund
Class R6/JHASX
Annual SHAREHOLDER REPORT | August 31, 2026
This annual shareholder report contains important information about the John Hancock Multi-Asset Absolute Return Fund (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund (Class) Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multi-Asset Absolute Return Fund
(Class R6/JHASX)
$136 1.33%
Management’s Discussion of Fund Performance

SUMMARY OF RESULTS
Multi-Asset Absolute Return Fund (Class R6/JHASX) returned 3.95% for the year ended August 31, 2026. The most significant factors during the reporting period included solid gains in global equity markets, rising interest rates, and currency market conditions.
TOP PERFORMANCE CONTRIBUTORS
Developed market stocks | Equities in developed countries contributed the most to fund performance, benefiting from stronger-than-expected corporate profits and resilient global economic growth.
Cash | A noteworthy level of income was received based on cash return not related to actual holdings.
Value stocks | The fund’s holdings of value-oriented stocks aided performance, particularly amid periods of risk aversion in global equity markets.


TOP PERFORMANCE DETRACTORS
Growth-oriented stocks | Growth stocks underperformed for the reporting period, adversely affected by sector rotation and valuation pressure.
Fixed-income securities | Rising interest rates globally put downward pressure on bond prices.
Foreign currency and futures holdings exposure | The fund’s defensive long/short positions in high-quality foreign currencies and futures holdings weighed on performance.


The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $1,000,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $1,000,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years 10 Years
Multi-Asset Absolute Return Fund (Class R6/JHASX) 3.95% 2.46% 3.28%
Bloomberg U.S. Aggregate Bond Index 1.89% (0.29)% 1.40%
ICE BofA 0-3 Month U.S. Treasury Bill Index 3.82% 3.72% 2.40%
30% MSCI ACWI/ 70% Bloomberg Global Aggregate Bond (USD Hedged) Index 7.73% 3.66% 5.10%
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $246,306,655
Total number of portfolio holdings 264
Total advisory fees paid (net) $2,724,399
Portfolio turnover rate 144%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Portfolio Composition
Common stocks 61.2%
Information technology 17.3%
Consumer staples 10.0%
Health care 9.6%
Financials 6.7%
Industrials 6.3%
Communication services 4.8%
Consumer discretionary 4.0%
Utilities 1.4%
Materials 1.1%
U.S. Government 31.1%
Other assets and liabilities, net 7.7%
Country Composition
United States 77.8%
Japan 4.4%
France 3.0%
United Kingdom 2.7%
South Korea 1.6%
China 1.6%
Netherlands 1.5%
Taiwan 1.3%
Switzerland 1.2%
Germany 1.2%
Other countries 3.7%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH back logo rebranded
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889524

395A-R6

8/26

10/26

John Hancock Multi-Asset Absolute Return Fund


ITEM 2. CODE OF ETHICS.

As of the end of the year, August 31, 2026, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.


ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Frances G. Rathke and William K. Bacic are audit committee financial experts and are "independent", pursuant to general instructions on Form N-CSR Item 3.


ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Audit Fees

For Equity Income and Global Equity Funds the aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to $84,172 and $83,261 for the fiscal years ended August 31, 2026 and August 31, 2025, respectively. These fees were billed to the registrant and were approved by the registrant's audit committee.

For Fundamental All Cap Core and Multi-Asset Absolute Return Funds the aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to $155,275 for the fiscal year ended August 31, 2026, $111,119 for the fiscal period ended August 31, 2025 (fiscal year end for Fundamental All Cap Core and Multi-Asset Absolute Return Fund changed from July 31 to August 31) and $153,700 for the fiscal year ended July 31, 2025. These fees were billed to the registrant and were approved by the registrant's audit committee.

(b) Audit-Related Services

For Equity Income and Global Equity Funds the audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was affiliated service provider internal controls reviews and a software licensing fee. Amounts billed to the registrant were $1,550 and $1,532 for fiscal years ended August 31, 2026 and August 31, 2025, respectively.

For Fundamental All Cap Core and Multi-Asset Absolute Return Funds audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was affiliated service provider internal controls reviews and a software licensing fee. Amounts billed to the registrant were $1,550 for the fiscal year ended August 31, 2026, $23 for the fiscal period ended August 31, 2025 and $1,533 for the fiscal year ended July 31, 2025.

For Equity Income and Global Equity Funds the amounts billed to control affiliates were $137,100 and $137,100 for the fiscal years ended August 31, 2026 and August 31, 2025, respectively.

For Fundamental All Cap Core and Multi-Asset Absolute Return Funds the amounts billed to control affiliates were $137,100, $0 and $137,100 for the fiscal periods ended August 31, 2026, August 31,2025 and July 31, 2025, respectively.

(c) Tax Fees

For Equity Income and Global Equity Funds the aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to $3,914 and $0 for the fiscal years ended August 31, 2026 and August 31, 2025, respectively. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.

For Fundamental All Cap Core and Multi-Asset Absolute Return Funds the aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to $8,970 for the fiscal year ended August 31, 2026, $0 for the fiscal period ended August 31, 2025 and $8,881 for the fiscal year ended July 31, 2025. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.

(d) All Other Fees

For Equity Income and Global Equity Funds other fees amounted to $1,356 and $0 for the fiscal years ended August 31, 2026 and August 31, 2025, respectively. The nature of the services comprising all other fees is advisory services provided to the investment manager. These fees were approved by the registrant's audit committee.

For Fundamental All Cap Core and Multi-Asset Absolute Return Funds other fees amounted to $1,356 for the fiscal year ended August 31, 2026, $0 for the fiscal period ended August 31, 2025 and $0 for the fiscal year ended July 31, 2025. The nature of the services comprising all other fees is advisory services provided to the investment manager. These fees were approved by the registrant's audit committee.

(e)(1) Audit Committee Pre-Approval Policies and Procedures

The registrant's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The registrant's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per instance/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per instance/per fund are subject to specific pre-approval by the Audit Committee.

All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.

(e)(2) Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X

Audit-Related Fees, Tax Fees and All Other Fees

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

(f) According to the registrant's principal accountant for the fiscal year ended August 31, 2026, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.

(g) For Equity Income and Global Equity Funds the aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $1,061,493 for the fiscal year ended August 31, 2026 and $594,741 for the fiscal year ended August 31, 2025.

For Fundamental All Cap Core and Multi-Asset Absolute Return Funds the aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $1,066,549 for the fiscal year ended August 31, 2026, $0 for the fiscal period ended August 31, 2025 and $603,622 for the fiscal year ended July 31, 2025.

(h) The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) Not applicable.


ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:

Frances G. Rathke – Chairperson

William H. Cunningham - retired effective December 31, 2025

William K. Bacic

Thomas R. Wright - effective January 1, 2026


ITEM 6. SCHEDULE OF INVESTMENTS.

(a) Refer to information included in Item 7.

(b) Not applicable.


ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The Registrant prepared financial statements and financial highlights for the year ended August 31, 2026 for the following funds:

  • John Hancock Equity Income Fund

  • John Hancock Fundamental All Cap Core Fund

  • John Hancock Global Equity Fund

  • John Hancock Multi-Asset Absolute Return Fund


Annual Financial Statements & Other N-CSR Items
John Hancock
Equity Income Fund
U.S. equity
August 31, 2026

John Hancock
Equity Income Fund
Table of contents
2 Fund’s investments
8 Financial statements
11 Financial highlights
14 Notes to financial statements
25 Report of independent registered public accounting firm
26 Tax information
27 Evaluation of advisory and subadvisory agreements by the Board of Trustees
34 Other N-CSR Items
1 JOHN HANCOCK EQUITY INCOME FUND |   

Table of Contents
Fund’s investments
AS OF 8-31-26
        Shares Value
Common stocks 98.7%         $506,898,350
(Cost $375,899,800)          
Communication services 2.7%     13,861,489
Entertainment 0.7%      
The Walt Disney Company     35,860 3,856,743
Interactive media and services 0.5%      
Meta Platforms, Inc., Class A     4,236 2,424,432
Media 0.8%      
News Corp., Class A     131,362 4,034,127
Wireless telecommunication services 0.7%      
T-Mobile US, Inc.     19,653 3,546,187
Consumer discretionary 7.9%     40,633,333
Broadline retail 5.9%      
Amazon.com, Inc. (A)     116,513 30,266,582
Hotels, restaurants and leisure 1.1%      
Las Vegas Sands Corp.     85,267 3,735,547
McDonald’s Corp.     8,511 2,242,989
Leisure products 0.1%      
Mattel, Inc. (A)     28,236 422,128
Specialty retail 0.8%      
The Home Depot, Inc.     12,098 3,966,087
Consumer staples 6.2%     32,057,424
Consumer staples distribution and retail 0.4%      
Walmart, Inc.     21,555 2,260,473
Food products 0.2%      
Tyson Foods, Inc., Class A     16,050 884,997
Household products 3.1%      
Colgate-Palmolive Company     84,517 7,591,317
Kimberly-Clark Corp.     24,534 2,648,445
The Procter & Gamble Company     40,854 5,928,732
Personal care products 1.4%      
Kenvue, Inc.     137,303 2,592,281
Unilever PLC, ADR     67,074 4,349,749
Tobacco 1.1%      
Philip Morris International, Inc.     30,974 5,801,430
Energy 9.0%     45,957,869
Energy equipment and services 0.7%      
SLB, Ltd.     58,145 3,494,515
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK EQUITY INCOME FUND 2

Table of Contents
        Shares Value
Energy (continued)      
Oil, gas and consumable fuels 8.3%      
Chevron Corp.     23,867 $4,919,943
ConocoPhillips     63,433 8,404,238
EOG Resources, Inc.     18,676 2,707,273
EQT Corp.     18,644 1,010,132
Expand Energy Corp.     28,813 2,828,284
ExxonMobil Holdings Corp.     41,585 6,693,106
Kinder Morgan, Inc.     40,051 1,291,244
Phillips 66     2,168 534,585
South Bow Corp.     42,697 1,614,904
TC Energy Corp.     31,876 1,993,206
The Williams Companies, Inc.     17,074 1,281,404
TotalEnergies SE     104,009 9,185,035
Financials 19.8%     101,723,430
Banks 8.6%      
Bank of America Corp.     86,034 5,328,946
Citigroup, Inc.     62,978 8,289,164
Fifth Third Bancorp     81,485 4,381,448
Huntington Bancshares, Inc.     321,148 5,358,354
JPMorgan Chase & Co.     26,176 9,319,180
U.S. Bancorp     117,511 7,236,327
Wells Fargo & Company     48,812 4,216,869
Capital markets 2.5%      
Morgan Stanley     4,903 1,045,908
State Street Corp.     14,300 2,736,734
The Charles Schwab Corp.     85,345 9,372,588
Consumer finance 0.4%      
Capital One Financial Corp.     9,249 1,984,003
Financial services 2.0%      
Apollo Global Management, Inc.     7,529 1,028,311
Berkshire Hathaway, Inc., Class B (A)     935 471,268
Equitable Holdings, Inc.     141,011 7,068,881
Fiserv, Inc. (A)     22,699 1,210,084
Global Payments, Inc.     4,735 431,122
Insurance 6.3%      
American International Group, Inc.     60,939 4,653,302
Chubb, Ltd.     21,289 7,208,455
Loews Corp.     53,537 5,797,522
MetLife, Inc.     118,156 11,244,907
The Allstate Corp.     12,956 3,340,057
3 JOHN HANCOCK EQUITY INCOME FUND |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
        Shares Value
Health care 13.5%     $69,348,823
Biotechnology 0.2%      
Biogen, Inc. (A)     5,180 1,122,247
Health care equipment and supplies 3.0%      
Becton, Dickinson and Company     35,989 6,769,891
Medtronic PLC     41,045 3,720,729
Zimmer Biomet Holdings, Inc.     47,395 4,741,396
Health care providers and services 4.3%      
CVS Health Corp.     70,186 6,591,167
Elevance Health, Inc.     19,210 7,540,693
The Cigna Group     12,476 3,444,374
UnitedHealth Group, Inc.     11,326 4,410,458
Life sciences tools and services 1.2%      
Revvity, Inc.     3,300 424,611
Thermo Fisher Scientific, Inc.     4,643 2,865,195
Waters Corp. (A)     6,640 2,753,143
Pharmaceuticals 4.8%      
AstraZeneca PLC     20,234 3,280,538
Bristol-Myers Squibb Company     64,229 4,291,139
Johnson & Johnson     14,429 3,835,950
Merck & Company, Inc.     42,897 6,338,461
Novo Nordisk A/S, ADR     47,553 2,155,577
Viatris, Inc.     306,678 5,063,254
Industrials 12.0%     61,785,193
Aerospace and defense 2.7%      
Airbus SE     2,830 645,875
General Electric Company     5,863 1,968,268
L3Harris Technologies, Inc.     16,866 4,490,573
StandardAero, Inc. (A)     84,840 2,077,732
The Boeing Company (A)     22,944 4,767,304
Air freight and logistics 0.7%      
United Parcel Service, Inc., Class B     34,917 3,639,399
Electrical equipment 0.3%      
Rockwell Automation, Inc.     3,512 1,490,598
Ground transportation 2.1%      
CSX Corp.     130,819 6,607,668
Norfolk Southern Corp.     2,924 1,002,318
Union Pacific Corp.     10,381 3,121,255
Industrial conglomerates 1.5%      
3M Company     6,490 1,115,177
Siemens AG     20,047 6,645,747
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK EQUITY INCOME FUND 4

Table of Contents
        Shares Value
Industrials (continued)      
Machinery 3.3%      
AGCO Corp.     27,339 $3,234,477
Fortive Corp.     104,759 6,164,020
Stanley Black & Decker, Inc.     77,609 7,479,179
The Middleby Corp. (A)     3,458 383,285
Passenger airlines 0.8%      
Southwest Airlines Company     104,204 4,014,980
Professional services 0.6%      
Booz Allen Hamilton Holding Corp.     38,828 2,937,338
Information technology 16.8%     86,506,512
Communications equipment 0.9%      
Cisco Systems, Inc.     42,900 4,740,021
Electronic equipment, instruments and components 0.6%      
Ralliant Corp.     17,045 1,052,188
TE Connectivity PLC     9,790 2,009,398
Semiconductors and semiconductor equipment 3.9%      
Applied Materials, Inc.     5,877 2,693,958
Intel Corp. (A)     77,794 6,963,341
Qualcomm, Inc.     46,257 7,885,893
Skyworks Solutions, Inc.     15,427 1,033,763
Texas Instruments, Inc.     6,282 1,639,037
Software 7.1%      
Microsoft Corp.     63,463 32,194,146
Salesforce, Inc.     16,534 4,258,166
Technology hardware, storage and peripherals 4.3%      
Apple, Inc.     69,549 22,036,601
Materials 3.2%     16,201,180
Chemicals 1.3%      
CF Industries Holdings, Inc.     51,356 6,677,821
Containers and packaging 1.4%      
Avery Dennison Corp.     10,114 1,760,949
International Paper Company     138,960 5,270,753
Paper and forest products 0.5%      
West Fraser Timber Company, Ltd.     36,556 2,491,657
Real estate 2.9%     14,637,932
Industrial REITs 0.6%      
Rexford Industrial Realty, Inc.     82,073 3,039,984
Residential REITs 1.2%      
Sun Communities, Inc.     6,017 730,584
Vivmark Residential     78,102 5,087,564
5 JOHN HANCOCK EQUITY INCOME FUND |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
        Shares Value
Real estate (continued)      
Specialized REITs 1.1%      
Public Storage     3,277 $1,006,006
Rayonier, Inc.     182,187 3,734,834
Weyerhaeuser Company     44,457 1,038,960
Utilities 4.7%     24,185,165
Electric utilities 3.3%      
Alliant Energy Corp.     58,347 3,966,429
NextEra Energy, Inc.     33,605 2,767,036
The Southern Company     101,219 8,907,272
Xcel Energy, Inc.     14,709 1,113,324
Multi-utilities 1.4%      
Ameren Corp.     35,913 3,807,137
Sempra     44,357 3,623,967
Preferred securities 0.6%         $3,133,911
(Cost $2,865,047)          
Industrials 0.4%     2,042,979
Aerospace and defense 0.4%      
The Boeing Company, 6.000%   31,508 2,042,979
Utilities 0.2%     1,090,932
Electric utilities 0.2%      
The Southern Company, 7.125%   22,799 1,090,932
    
    Yield (%)   Shares Value
Short-term investments 0.6%         $2,832,669
(Cost $2,832,669)          
Short-term funds 0.6%         2,832,669
State Street Institutional U.S. Government Money Market Fund, Premier Class 3.6112(B)   1,484,268 1,484,268
T. Rowe Price Government Reserve Fund 3.7112(B)   1,348,401 1,348,401
    
Total investments (Cost $381,597,516) 99.9%     $512,864,930
Other assets and liabilities, net 0.1%       669,562
Total net assets 100.0%         $513,534,492
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR American Depositary Receipt
(A) Non-income producing security.
(B) The rate shown is the annualized seven-day yield as of 8-31-26.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK EQUITY INCOME FUND 6

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At 8-31-26, the aggregate cost of investments for federal income tax purposes was $385,932,752. Net unrealized appreciation aggregated to $126,932,178, of which $131,982,365 related to gross unrealized appreciation and $5,050,187 related to gross unrealized depreciation.
7 JOHN HANCOCK EQUITY INCOME FUND |  SEE NOTES TO FINANCIAL STATEMENTS

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Financial statements
STATEMENT OF ASSETS AND LIABILITIES 8-31-26

Assets  
Unaffiliated investments, at value (Cost $381,597,516) $512,864,930
Cash 19,882
Foreign currency, at value (Cost $19,360) 19,414
Dividends and interest receivable 1,339,426
Receivable for fund shares sold 78,630
Receivable for investments sold 74,641
Receivable for securities lending income 48
Other assets 59,067
Total assets 514,456,038
Liabilities  
Payable for investments purchased 493,809
Payable for fund shares repurchased 264,356
Payable to affiliates  
Accounting and legal services fees 25,133
Transfer agent fees 13,669
Trustees’ fees 226
Other liabilities and accrued expenses 124,353
Total liabilities 921,546
Net assets $513,534,492
Net assets consist of  
Paid-in capital $325,059,508
Total distributable earnings (loss) 188,474,984
Net assets $513,534,492
 
Net asset value per share  
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value  
Class A ($143,710,858 ÷ 9,008,596 shares)1 $15.95
Class C ($869,027 ÷ 54,200 shares)1 $16.03
Class 1 ($368,954,607 ÷ 23,091,630 shares) $15.98
Maximum offering price per share  
Class A (net asset value per share ÷ 95%)2 $16.79
    
1 Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
2 On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK EQUITY INCOME FUND 8

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STATEMENT OF OPERATIONS For the year ended 8-31-26

Investment income  
Dividends $12,739,694
Interest 1,529
Securities lending, net 2,504
Less foreign taxes withheld (191,610)
Total investment income 12,552,117
Expenses  
Investment management fees 3,970,197
Distribution and service fees 647,704
Accounting and legal services fees 100,599
Transfer agent fees 155,356
Trustees’ fees 10,614
Custodian fees 11,335
State registration fees 45,445
Printing and postage 26,112
Professional fees 100,805
Other 71,244
Total expenses 5,139,411
Less expense reductions (216,881)
Net expenses 4,922,530
Net investment income 7,629,587
Realized and unrealized gain (loss)  
Net realized gain (loss) on  
Unaffiliated investments and foreign currency transactions 83,177,070
Affiliated investments (594)
Futures contracts 63,358
  83,239,834
Change in net unrealized appreciation (depreciation) of  
Unaffiliated investments and translation of assets and liabilities in foreign currencies 32,407,671
  32,407,671
Net realized and unrealized gain 115,647,505
Increase in net assets from operations $123,277,092
9 JOHN HANCOCK EQUITY INCOME FUND |  SEE NOTES TO FINANCIAL STATEMENTS

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STATEMENTS OF CHANGES IN NET ASSETS  

  Year ended
8-31-26
Year ended
8-31-25
Increase (decrease) in net assets    
From operations    
Net investment income $7,629,587 $18,994,502
Net realized gain 83,239,834 518,940,311
Change in net unrealized appreciation (depreciation) 32,407,671 (521,556,717)
Increase in net assets resulting from operations 123,277,092 16,378,096
Distributions to shareholders    
From earnings    
Class A (50,084,957) (15,739,972)
Class C (279,550) (105,568)
Class 1 (159,484,570) (18,680,431)
Class NAV1 — (133,170,301)
Total distributions (209,849,077) (167,696,272)
From fund share transactions (2,924,812) (1,007,320,520)
Total decrease (89,496,797) (1,158,638,696)
Net assets    
Beginning of year 603,031,289 1,761,669,985
End of year $513,534,492 $603,031,289
    
1 Class NAV shares were fully redeemed on 4-10-25.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK EQUITY INCOME FUND 10

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Financial highlights
CLASS A SHARES Period ended 8-31-26 8-31-25 8-31-24 8-31-23 8-31-22
Per share operating performance          
Net asset value, beginning of period $20.10 $21.09 $18.66 $19.93 $22.20
Net investment income1 0.17 0.26 0.29 0.33 0.27
Net realized and unrealized gain (loss) on investments 3.12 0.842 3.54 0.46 (0.64)
Total from investment operations 3.29 1.10 3.83 0.79 (0.37)
Less distributions          
From net investment income (0.16) (0.34) (0.30) (0.35) (0.27)
From net realized gain (7.28) (1.75) (1.10) (1.71) (1.63)
Total distributions (7.44) (2.09) (1.40) (2.06) (1.90)
Net asset value, end of period $15.95 $20.10 $21.09 $18.66 $19.93
Total return (%)3,4 23.48 6.13 21.58 4.35 (1.91)
Ratios and supplemental data          
Net assets, end of period (in millions) $144 $152 $159 $140 $121
Ratios (as a percentage of average net assets):          
Expenses before reductions 1.16 1.16 1.14 1.16 1.14
Expenses including reductions 1.13 1.12 1.11 1.13 1.11
Net investment income 1.06 1.34 1.52 1.76 1.29
Portfolio turnover (%) 30 275 22 19 15
    
1 Based on average daily shares outstanding.
2 The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Does not reflect the effect of sales charges, if any.
5 Portfolio turnover rate excludes securities delivered from in-kind transactions.
11 JOHN HANCOCK Equity Income Fund |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
CLASS C SHARES Period ended 8-31-26 8-31-25 8-31-24 8-31-23 8-31-22
Per share operating performance          
Net asset value, beginning of period $20.19 $21.17 $18.73 $19.99 $22.25
Net investment income1 0.06 0.12 0.16 0.20 0.12
Net realized and unrealized gain (loss) on investments 3.13 0.852 3.55 0.46 (0.63)
Total from investment operations 3.19 0.97 3.71 0.66 (0.51)
Less distributions          
From net investment income (0.07) (0.20) (0.17) (0.21) (0.12)
From net realized gain (7.28) (1.75) (1.10) (1.71) (1.63)
Total distributions (7.35) (1.95) (1.27) (1.92) (1.75)
Net asset value, end of period $16.03 $20.19 $21.17 $18.73 $19.99
Total return (%)3,4 22.63 5.36 20.72 3.63 (2.56)
Ratios and supplemental data          
Net assets, end of period (in millions) $1 $1 $1 $2 $2
Ratios (as a percentage of average net assets):          
Expenses before reductions 1.86 1.86 1.84 1.86 1.84
Expenses including reductions 1.83 1.83 1.81 1.83 1.81
Net investment income 0.36 0.62 0.82 1.07 0.58
Portfolio turnover (%) 30 275 22 19 15
    
1 Based on average daily shares outstanding.
2 The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Does not reflect the effect of sales charges, if any.
5 Portfolio turnover rate excludes securities delivered from in-kind transactions.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Equity Income Fund 12

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CLASS 1 SHARES Period ended 8-31-26 8-31-25 8-31-24 8-31-23 8-31-22
Per share operating performance          
Net asset value, beginning of period $20.13 $21.12 $18.68 $19.96 $22.22
Net investment income1 0.23 0.32 0.36 0.40 0.35
Net realized and unrealized gain (loss) on investments 3.12 0.852 3.55 0.45 (0.63)
Total from investment operations 3.35 1.17 3.91 0.85 (0.28)
Less distributions          
From net investment income (0.22) (0.41) (0.37) (0.42) (0.35)
From net realized gain (7.28) (1.75) (1.10) (1.71) (1.63)
Total distributions (7.50) (2.16) (1.47) (2.13) (1.98)
Net asset value, end of period $15.98 $20.13 $21.12 $18.68 $19.96
Total return (%)3 24.00 6.46 22.06 4.70 (1.48)
Ratios and supplemental data          
Net assets, end of period (in millions) $369 $450 $189 $174 $186
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.80 0.80 0.78 0.79 0.77
Expenses including reductions 0.77 0.76 0.75 0.76 0.74
Net investment income 1.42 1.62 1.89 2.12 1.65
Portfolio turnover (%) 30 274 22 19 15
    
1 Based on average daily shares outstanding.
2 The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Portfolio turnover rate excludes securities delivered from in-kind transactions.
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Notes to financial statements
Note 1—Organization
John Hancock Equity Income Fund (the fund) is a series of John Hancock Funds II (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek to provide substantial dividend income and also long-term growth of capital.
The fund may offer multiple classes of shares. The shares currently outstanding are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class 1 shares are offered only to certain affiliates of Manulife Financial Corporation. Class C shares convert to Class A shares eight years after purchase (certain exclusions may apply). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ.
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC, the fund’s valuation designee.
In order to value the securities, the fund uses the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the fund in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Futures contracts are typically valued based on the settlement price. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.
In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.
   | JOHN HANCOCK Equity Income Fund 14

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The fund uses a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
The following is a summary of the values by input classification of the fund’s investments as of August 31, 2026, by major security category or type:
  Total
value at
8-31-26
Level 1
quoted
price
Level 2
significant
observable
inputs
Level 3
significant
unobservable
inputs
Investments in securities:        
Assets        
Common stocks        
Communication services $13,861,489 $13,861,489 — —
Consumer discretionary 40,633,333 40,633,333 — —
Consumer staples 32,057,424 32,057,424 — —
Energy 45,957,869 45,957,869 — —
Financials 101,723,430 101,723,430 — —
Health care 69,348,823 69,348,823 — —
Industrials 61,785,193 54,493,571 $7,291,622 —
Information technology 86,506,512 86,506,512 — —
Materials 16,201,180 16,201,180 — —
Real estate 14,637,932 14,637,932 — —
Utilities 24,185,165 24,185,165 — —
Preferred securities 3,133,911 3,133,911 — —
Short-term investments 2,832,669 2,832,669 — —
Total investments in securities $512,864,930 $505,573,308 $7,291,622 —
Real estate investment trusts. The fund may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the fund will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the
15 JOHN HANCOCK Equity Income Fund |   

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ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Securities lending. The fund may lend its securities to earn additional income. The fund receives collateral from the borrower in an amount not less than the market value of the loaned securities. The fund may invest its cash collateral in JHCT, an affiliate of the fund, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a government money market fund and invests in U.S. Government securities and/or repurchase agreements. The fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.
The fund has the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the fund for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.
Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the fund could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the fund will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The fund receives compensation for lending its securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the fund is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statement of operations. As of August 31, 2026, there were no securities on loan.
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
Foreign taxes. The fund may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the fund as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Overdraft. The fund may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund’s custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
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Line of credit. The fund and other affiliated funds have entered into a syndicated line of credit agreement with The Bank of New York Mellon as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 12, 2027 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. Prior to July 13, 2026, a similar syndicated line of credit agreement was held with Citibank N.A. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on an asset-based allocation and is reflected in Other expenses on the Statement of operations. Commitment fees for the year ended August 31, 2026 were $3,002.
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.
Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
As of August 31, 2026, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund’s federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares and pays dividends quarterly. Capital gain distributions, if any, are typically distributed annually.
The tax character of distributions for the years ended August 31, 2026 and 2025 was as follows:
  August 31, 2026 August 31, 2025
Ordinary income $6,828,974 $25,830,518
Long-term capital gains 203,020,103 141,865,754
Total $209,849,077 $167,696,272
Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of August 31, 2026, the components of distributable earnings on a tax basis consisted of $38,323,359 of undistributed ordinary income and $23,211,865 of undistributed long-term capital gains.
Such distributions and distributable earnings, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund’s financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to wash sale loss deferrals and treating a portion of the proceeds from redemptions as distributions for tax purposes.
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Note 3—Derivative instruments
The fund may invest in derivatives in order to meet its investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the fund is exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.
Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the fund and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.
Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statement of assets and liabilities. Use of long futures contracts subjects the fund to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the fund to unlimited risk of loss.
Upon entering into a futures contract, the fund is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the fund, if any, is detailed in the Statement of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the fund, if any, are identified in the Fund’s investments. Subsequent payments, referred to as variation margin, are made or received by the fund periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the fund. When the contract is closed, the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
During the year ended August 31, 2026, the fund used futures contracts to manage against changes in securities markets. The fund held futures contracts with USD notional values ranging up to $9.0 million as measured during the period. There were no open futures contracts as of August 31, 2026.  
Effect of derivative instruments on the Statement of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2026:
  Statement of operations location - Net realized gain (loss) on:
Risk Futures contracts
Equity $63,358
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Note 4—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 5—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the fund. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.
Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor equivalent on an annual basis to the following:
Aggregate daily net assets ($) Rate
First 100 million 0.800%
Between 100 million and 200 million 0.775%
Between 200 million and 500 million 0.750%
Between 500 million and 1 billion 0.725%
Between 1 billion and 1.5 billion 0.725%
Between 1.5 billion and 2 billion 0.700%
Between 2 billion and 3 billion 0.695%
Excess over 3 billion 0.670%
    
When aggregate net assets exceed $200 million on any day, the annual rate of advisory fee for that day is 0.775% on the first $200 million of aggregate net assets.
When aggregate net assets exceed $500 million on any day, the annual rate of advisory fee for that day is 0.750% on the first $500 million of aggregate net assets and 0.725% on the amount above $500 million.
When aggregate net assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.725% on the first $1 billion of aggregate net assets.
When aggregate net assets exceed $1.5 billion on any day, the annual rate of advisory fee for that day is 0.700% on the first $1.5 billion of aggregate net assets.
When aggregate net assets exceed $2 billion on any day, the annual rate of advisory fee for that day is 0.695% on the first $2 billion of aggregate net assets.
When aggregate net assets exceed $3 billion on any day, the annual rate of advisory fee for that day is 0.670% on the first $3 billion of aggregate net assets.
Prior to August 1, 2026, the annual rates were:
Aggregate daily net assets ($) Rate
First 100 million 0.800%
Between 100 million and 200 million 0.775%
Between 200 million and 500 million 0.750%
Between 500 million and 1 billion 0.725%
Between 1 billion and 1.5 billion 0.725%
Between 1.5 billion and 2 billion 0.700%
Between 2 billion and 3 billion 0.695%
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Aggregate daily net assets ($) Rate
Between 3 billion and 4 billion 0.690%
Between 4 billion and 5.5 billion 0.680%
Between 5.5 billion and 7.5 billion 0.675%
Excess over 7.5 billion 0.670%
    
When aggregate net assets exceed $200 million on any day, the annual rate of advisory fee for that day is 0.775% on the first $200 million of aggregate net assets.  
When aggregate net assets exceed $500 million on any day, the annual rate of advisory fee for that day is 0.750% on the first $500 million of aggregate net assets and 0.725% on the amount above $500 million.  
When aggregate net assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.725% on the first $1 billion of aggregate net assets.  
When aggregate net assets exceed $1.5 billion on any day, the annual rate of advisory fee for that day is 0.700% on the first $1.5 billion of aggregate net assets.  
When aggregate net assets exceed $2 billion on any day, the annual rate of advisory fee for that day is 0.695% on the first $2 billion of aggregate net assets.  
When aggregate net assets exceed $3 billion on any day, the annual rate of advisory fee for that day is 0.690% on the first $3 billion of aggregate net assets.  
When aggregate net assets exceed $4 billion on any day, the annual rate of advisory fee for that day is 0.680% on the first $4 billion of aggregate net assets.  
When aggregate net assets exceed $5.5 billion on any day, the annual rate of advisory fee for that day is 0.675% on the first $5.5 billion of aggregate net assets.  
When aggregate net assets exceed $7.5 billion on any day, the annual rate of advisory fee for that day is 0.670% on the first $7.5 billion of aggregate net assets.  
Aggregate net assets include the net assets of the fund, Equity Income Trust, a series of John Hancock Variable Insurance Trust, Manulife US Large Cap Value Equity Fund (Canada), and Manulife North American Equity Fund Series II (Asia). The Advisor has a subadvisory agreement with T. Rowe Price Associates, Inc. The fund is not responsible for payment of the subadvisory fees.
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the year ended August 31, 2026, this waiver amounted to 0.01% of the fund’s average daily net assets. This agreement expires on July 31, 2027, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has contractually agreed to reduce its management fee or, if necessary, make payment to Class A shares in an amount equal to the amount by which the expenses of the class exceed 1.14% of the class’s average net assets. Expenses exclude taxes, brokerage commissions, interest expense, acquired fund fees and expenses paid indirectly, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of business, and short dividend expense. This agreement expires on December 31, 2026, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has voluntarily agreed to waive a portion of its management fees for the fund. This voluntary waiver equals the amount by which the subadvisory fee paid to T. Rowe Price Associates, Inc. is reduced. This voluntary expense waiver may terminate at any time.
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For the year ended August 31, 2026, the expense reductions described above amounted to the following:
Class Expense reduction
Class A $53,211
Class C 295
Class Expense reduction
Class 1 $163,375
Total $216,881
 
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended August 31, 2026, were equivalent to a net annual effective rate of 0.65% of the fund’s average daily net assets.
Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended August 31, 2026, amounted to an annual rate of 0.02% of the fund’s average daily net assets.
Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. The fund may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund’s shares:
Class Rule 12b-1 Fee
Class A 0.30%
Class C 1.00%
Class 1 0.05%
Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $86,152 for the year ended August 31, 2026. Of this amount, $15,140 was retained and used for printing prospectuses, advertising, sales literature and other purposes and $71,012 was paid as sales commissions to broker-dealers.
Class A and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares purchased, including those that are acquired through purchases of $1 million or more, and redeemed within one year of purchase are subject to a 1.00% CDSC. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended August 31, 2026, CDSCs received by the Distributor amounted to $2,142 and $94 for Class A and Class C shares, respectively.
Transfer agent fees. The John Hancock group of funds has a complex-wide transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to three
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categories of share classes: Retail Share Classes of Non-Municipal Bond Funds, Retirement Share Classes and Retail Share Classes of Municipal Bond Funds. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.
Class level expenses. Class level expenses for the year ended August 31, 2026 were as follows:
Class Distribution and service fees Transfer agent fees
Class A $423,122 $154,500
Class C 7,815 856
Class 1 216,767 —
Total $647,704 $155,356
Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to the fund based on its net assets relative to other funds within the John Hancock group of funds complex.
Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the fund, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the fund to borrow from, or lend money to, other participating affiliated funds. At period end, no interfund loans were outstanding. The fund’s activity in this program during the period for which loans were outstanding was as follows:
Borrower
or Lender
Weighted Average
Loan Balance
Days
Outstanding
Weighted Average
Interest Rate
Interest Income
(Expense)
Lender $1,500,000 1 4.145% $173
Note 6—Fund share transactions
Transactions in fund shares for the years ended August 31, 2026 and 2025 were as follows:
  Year Ended 8-31-26 Year Ended 8-31-25
  Shares Amount Shares Amount
Class A shares        
Sold 865,655 $13,260,191 1,045,860 $20,482,783
Distributions reinvested 3,727,183 50,061,731 837,963 15,727,651
Repurchased (3,130,121) (50,623,554) (1,896,906) (36,953,589)
Net increase (decrease) 1,462,717 $12,698,368 (13,083) $(743,155)
Class C shares        
Sold 10,331 $163,868 4,431 $87,756
Distributions reinvested 20,702 279,550 5,607 105,568
Repurchased (18,984) (302,843) (30,260) (595,405)
Net increase (decrease) 12,049 $140,575 (20,222) $(402,081)
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  Year Ended 8-31-26 Year Ended 8-31-25
  Shares Amount Shares Amount
Class 1 shares        
Sold 490,151 $7,776,317 14,612,924 $285,793,3211
Distributions reinvested 11,852,692 159,484,570 993,359 18,680,431
Repurchased (11,629,452) (183,024,642) (2,173,601) (42,786,606)
Net increase (decrease) 713,391 $(15,763,755) 13,432,682 $261,687,146
Class NAV shares2        
Sold — — 564,484 $11,791,595
Distributions reinvested — — 7,111,142 133,170,301
Repurchased — — (74,670,309) (1,412,824,326)
Net decrease — — (66,994,683) $(1,267,862,430)
Total net increase (decrease) 2,188,157 $(2,924,812) (53,595,306) $(1,007,320,520)
    
1 Includes in-kind subscriptions of approximately $203,500,000 by affiliates of the fund. The cost basis of the contributed securities is equal to the market value of the securities on the date of the subscription.
2 Class NAV shares were fully redeemed on 4-10-25.
Affiliates of the fund owned 100% of shares of Class 1 on August 31, 2026. Such concentration of shareholders’ capital could have a material effect on the fund if such shareholders redeem from the fund.
Note 7—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments, amounted to $169,517,466 and $371,249,405, respectively, for the year ended August 31, 2026.
Note 8—Investment in affiliated underlying funds
The fund may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the fund’s fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the fund, if any, is as follows:
              Dividends and distributions
Affiliate Ending
share
amount
Beginning
value
Cost of
purchases
Proceeds
from shares
sold
Realized
gain
(loss)
Change in
unrealized
appreciation
(depreciation)
Income
distributions
received
Capital gain
distributions
received
Ending
value
John Hancock Collateral Trust* — — $30,788,776 $(30,788,182) $(594) — $2,504 — —
    
* Refer to the Securities lending note within Note 2 for details regarding this investment.
Note 9—Segment reporting
The management committee of the Advisor acts as the fund’s chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation. The fund represents a single operating segment, as the CODM monitors and assesses the operating results of the fund as a whole, and the fund’s long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the fund’s subadvisor. Segment assets are reflected in the Statement of assets and liabilities as “Total assets”, which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant
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expenses, provided to and reviewed by the CODM is consistent with that presented within the Statement of operations, which includes “Increase (decrease) in net assets from operations”, Statements of changes in net assets, which includes “Increase (decrease) in net assets from fund share transactions”, and Financial highlights, which includes total return and income and expense ratios.
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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of John Hancock Funds II and Shareholders of Equity Income Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the fund’s investments, of Equity Income Fund (one of the funds constituting John Hancock Funds II, referred to hereafter as the "Fund") as of August 31, 2026, the related statement of operations for the year ended August 31, 2026, the statement of changes in net assets for each of the two years in the period ended August 31, 2026, including the related notes, and the financial highlights for each of the five years in the period ended August 31, 2026 (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 as of August 31, 2026, 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 ended August 31, 2026 and the financial highlights for each of the five years in the period ended August 31, 2026 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’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 Fund 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 of these financial statements 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.
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 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. Our procedures included confirmation of securities owned as of August 31, 2026 by correspondence with the custodian, transfer agents, and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
October 15, 2026
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
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Tax information
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended August 31, 2026.
The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
The fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
The fund paid $212,108,063 in long-term capital gain dividends.
The fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Eligible shareholders will be mailed a 2026 Form 1099-DIV in early 2027. This will reflect the tax character of all distributions paid in calendar year 2026.
Please consult a tax advisor regarding the tax consequences of your investment in the fund.
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EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES

This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Funds II (the Trust) of the Advisory Agreement (the Advisory Agreement) with John Hancock Investment Management LLC (the Advisor) and the Subadvisory Agreement (the Subadvisory Agreement) with T. Rowe Price Associates, Inc. (the Subadvisor), for John Hancock Equity Income Fund (the fund). The Advisory Agreement and Subadvisory Agreement are collectively referred to as the Agreements.  Prior to the June 22-25, 2026 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a meeting held on May 26-28, 2026. The Trustees who are not “interested persons” of the Trust as defined by the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.
Approval of Advisory and Subadvisory Agreements
At meetings held on June 22-25, 2026, the Board, including the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the 1940 Act, reapproved for an annual period the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to the fund.
In considering the Advisory Agreement and the Subadvisory Agreement, the Board received in advance of the meetings a variety of materials relating to the fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for a peer group of similar funds prepared by an independent third-party provider of fund data, performance information for an applicable benchmark index; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable, and other information provided by the Advisor and the Subadvisor regarding the nature, extent, and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the fund and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning fund performance, comparability of fees and total expenses, and profitability. However, the Board noted that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the fund, including quarterly performance reports prepared by management containing reviews of investment results and prior presentations from the Subadvisor with respect to the fund. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board also considered the nature, quality, and extent of non-advisory services, if any, to be provided to the fund by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review.  In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the fund.
Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.
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Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets, and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board’s conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board’s ongoing regular review of fund performance and operations throughout the year.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor’s compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the fund’s compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund’s compliance programs, risk management programs, liquidity risk management programs, derivatives risk management programs, and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the fund, including, but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and other third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the fund including entrepreneurial risk in sponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management and the quality of the performance of the Advisor’s duties, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
(a) the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues;
(b) the background, qualifications and skills of the Advisor’s personnel;
(c) the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;
(d) the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund;
(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; and
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(f) the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.
The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the fund.
Investment performance. In considering the fund’s performance, the Board noted that it reviews at its regularly scheduled meetings information about the fund’s performance results. In connection with the consideration of the Advisory Agreement, the Board:
(a) reviewed information prepared by management regarding the fund’s performance;
(b) considered the comparative performance of an applicable benchmark index;
(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and
(d) took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally.
The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and that the results of the performance comparisons may vary depending on the selection and size of the peer group. The Board noted that the fund underperformed its benchmark index for the one-, three-, five- and ten-year periods ended December 31, 2025. The Board also noted that the fund underperformed its peer group median for the one-, three-, five- and ten-year periods ended December 31, 2025. The Board took into account management’s discussion of the factors that contributed to the fund’s performance for the one-, three, five-, and ten-year periods relative to the benchmark index and to the peer group median, including the impact of past and current market conditions on the fund’s strategy and management’s outlook for the fund. The Board concluded that the fund’s performance is being monitored and reasonably addressed, where appropriate.
Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of fund data, including, among other data, the fund’s contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the fund in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and the Subadvisor, respectively. The Board considered the fund’s ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the fund’s ranking within a broader group of funds. In comparing the fund’s contractual and net management fees to those of comparable funds, the Board noted that such fees include both advisory and administrative costs. The Board noted that net management fees for the fund are higher than the peer group median and that net total expenses for the fund are lower than the peer group median.
The Board took into account management’s discussion of the fund’s expenses. The Board also took into account management’s discussion with respect to the overall management fee and the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fee, and that such fees are negotiated at arm’s length with respect to the Subadvisor. In addition, the Board took into account that management had agreed to implement an overall fee waiver across the complex, including the fund, which is discussed further below. The Board also noted actions taken over the past several years to reduce the fund’s operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to the fund and that the fund has breakpoints in its contractual management fee schedule that reduces management fees as assets increase. The Board reviewed information provided by the Advisor concerning the investment advisory fee charged by the Advisor or one of its
29 JOHN HANCOCK EQUITY INCOME FUND  |   

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advisory affiliates to other clients (including other funds in the John Hancock Fund Complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to the fund and the services they provide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to the fund is reasonable in light of the nature, extent, and quality of the services provided to the fund under the Advisory Agreement.
Profitability/Fall out benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates from the Advisor’s relationship with the Trust, the Board:
(a) reviewed financial information of the Advisor;
(b) reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund;
(c) received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund;
(d) received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies;
(e) considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board;
(f) considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement;
(g) noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund;
(h) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund;
(i) noted that the subadvisory fee for the fund is paid by the Advisor and is negotiated at arm’s length;
(j) considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and
(k) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.
Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates from their relationship with the fund was not unreasonable in view of all factors considered.
Economies of scale. In considering the extent to which economies of scale would be realized as the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
(a) considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement).  This waiver is
   | JOHN HANCOCK EQUITY INCOME FUND 30

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  based upon aggregate net assets of all the participating portfolios.  The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund;
(b) reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and
(c) the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale.
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
(1) information relating to the Subadvisor’s business, including current subadvisory services to the fund (and other funds in the John Hancock Fund Complex);
(2) the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds;
(3) the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data; and
(4) information relating to the nature and scope of any material relationships and their significant to the fund’s Advisor and Subadvisor.
Nature, extent, and quality of services. With respect to the services provided by the Subadvisor, the Board received information provided to the Board by the Subadvisor, including the Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as received information relating to the Subadvisor’s compensation program. The Board reviewed the Subadvisor’s history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor’s investment and compliance personnel who provide services to the fund. The Board also considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of the Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor’s investment process and philosophy. The Board took into account that the Subadvisor’s responsibilities include the development and maintenance of an investment program for the fund that is consistent with the fund’s investment objective, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor’s brokerage policies and practices, including with respect to best execution and soft dollars.
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Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor, the Board noted that the fees under the Subadvisory Agreement are paid by the Advisor and not the fund.
The Board also relied on the ability of the Advisor to negotiate the Subadvisory Agreement with the Subadvisor, which is not affiliated with the Advisor, and the fees thereunder at arm’s length. As a result, the costs of the services to be provided and the profits to be realized by the Subadvisor from its relationship with the Trust were not a material factor in the Board’s consideration of the Subadvisory Agreement.
The Board also received information regarding the nature and scope (including their significance to the Advisor and its affiliates and to the Subadvisor) of any material relationships with respect to the Subadvisor, which include arrangements in which the Subadvisor or its affiliates provide advisory, distribution, or management services in connection with financial products sponsored by the Advisor or its affiliates, and may include other registered investment companies, a 529 education savings plan, managed separate accounts and exempt group annuity contracts sold to qualified plans. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered the fund’s subadvisory fees as compared to similarly situated investment companies deemed to be comparable to the fund as included in the report prepared by the independent third party provider of fund data, to the extent available.The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the fund and compared them to fees charged by the Subadvisor to manage other subadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.
Subadvisor performance. As noted above, the Board considered the fund’s performance as compared to the fund’s peer group median and the benchmark index and noted that the Board reviews information about the fund’s performance results at its regularly scheduled meetings. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, as applicable.
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
(1) the Subadvisor has extensive experience and demonstrated skills as a manager;
(2) the performance of the fund is being monitored and reasonably addressed, where appropriate;
(3) the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and
(4) the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows.
***
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Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement for an additional one-year period.
33 JOHN HANCOCK EQUITY INCOME FUND  |   

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Other N-CSR Items
(Unaudited)
Item 8.  Changes in and disagreements with accountants
None.
Item 9.  Proxy disclosures
When applicable, results of shareholder voting are included in the Shareholder meeting section of this report.
Item 10.  Remuneration paid to Trustees, officers, and others
Trustees’ fees are included in the financial statements.
Item 11.  Statement regarding basis for approval of investment advisory contract
When applicable, the statement regarding the basis for approval of any investment advisory contract is included in the Evaluation of advisory and subadvisory agreements by the Board of Trustees section of this report.
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John Hancock Investment Management Distributors LLC, Member FINRA, SIPC
200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Equity Income Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF5889498 458A 8/26
10/26


Annual Financial Statements & Other N-CSR Items
John Hancock
Fundamental All Cap Core Fund
U.S. equity
August 31, 2026

John Hancock
Fundamental All Cap Core Fund
Table of contents
2 Fund’s investments
5 Financial statements
9 Financial highlights
15 Notes to financial statements
23 Report of independent registered public accounting firm
24 Tax information
25 Evaluation of advisory and subadvisory agreements by the Board of Trustees
31 Other N-CSR Items
1 JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND |   

Table of Contents
Fund’s investments
AS OF 8-31-26
        Shares Value
Common stocks 99.6%         $431,875,833
(Cost $319,020,342)          
Communication services 14.5%     62,890,694
Entertainment 4.0%      
Liberty Media Corp.-Liberty Formula One, Series C (A)     100,785 10,073,461
Spotify Technology SA (A)     13,017 7,076,302
Interactive media and services 10.5%      
Alphabet, Inc., Class A     57,360 19,465,116
CarGurus, Inc. (A)     200,246 7,140,772
Meta Platforms, Inc., Class A     33,433 19,135,043
Consumer discretionary 17.1%     74,316,408
Automobile components 0.7%      
Fox Factory Holding Corp. (A)     52,434 1,071,227
Mobileye Global, Inc., Class A (A)     213,535 1,821,454
Automobiles 1.6%      
Ferrari NV     16,869 7,128,839
Broadline retail 7.5%      
Amazon.com, Inc. (A)     125,085 32,493,330
Hotels, restaurants and leisure 1.7%      
Vail Resorts, Inc.     55,051 7,537,032
Household durables 2.6%      
Lennar Corp., Class A     131,866 11,091,249
Specialty retail 3.0%      
CarMax, Inc. (A)     164,309 10,077,071
Group 1 Automotive, Inc.     11,487 3,096,206
Consumer staples 1.0%     4,288,288
Food products 1.0%      
Post Holdings, Inc. (A)     51,443 4,288,288
Energy 2.8%     12,039,505
Oil, gas and consumable fuels 2.8%      
Cheniere Energy, Inc.     41,275 12,039,505
Financials 8.6%     37,121,367
Banks 0.7%      
First Hawaiian, Inc.     125,004 3,201,352
Capital markets 6.4%      
KKR & Company, Inc.     171,718 18,840,899
S&P Global, Inc.     20,060 8,742,950
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND 2

Table of Contents
        Shares Value
Financials (continued)      
Insurance 1.5%      
Arthur J. Gallagher & Company     24,170 $6,336,166
Health care 13.9%     60,438,181
Biotechnology 1.7%      
Alnylam Pharmaceuticals, Inc. (A)     30,579 7,360,060
Health care equipment and supplies 2.3%      
GE HealthCare Technologies, Inc.     49,400 3,518,762
Zimmer Biomet Holdings, Inc.     63,285 6,331,031
Health care providers and services 5.0%      
Elevance Health, Inc.     21,687 8,513,015
McKesson Corp.     11,864 10,503,436
UnitedHealth Group, Inc.     7,366 2,868,394
Life sciences tools and services 2.8%      
Thermo Fisher Scientific, Inc.     19,463 12,010,617
Pharmaceuticals 2.1%      
Elanco Animal Health, Inc. (A)     390,170 9,332,866
Industrials 5.2%     22,556,064
Aerospace and defense 2.1%      
TransDigm Group, Inc.     7,812 9,153,633
Electrical equipment 0.7%      
Regal Rexnord Corp.     18,174 2,879,670
Machinery 0.7%      
Fortive Corp.     52,668 3,098,985
Trading companies and distributors 1.7%      
United Rentals, Inc.     7,152 7,423,776
Information technology 32.1%     139,466,830
IT services 0.4%      
Accenture PLC, Class A     10,370 1,967,811
Semiconductors and semiconductor equipment 13.1%      
Broadcom, Inc.     52,722 19,525,065
NVIDIA Corp.     73,307 16,184,719
Qualcomm, Inc.     25,280 4,309,734
Taiwan Semiconductor Manufacturing Company, Ltd., ADR     40,767 16,931,350
Software 17.6%      
Adobe, Inc. (A)     7,494 2,194,168
HubSpot, Inc. (A)     13,409 3,504,576
Microsoft Corp.     78,916 40,033,302
Roper Technologies, Inc.     32,759 13,910,782
Salesforce, Inc.     36,696 9,450,688
Workday, Inc., Class A (A)     35,855 7,079,570
3 JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
        Shares Value
Information technology (continued)      
Technology hardware, storage and peripherals 1.0%      
Apple, Inc.     13,808 $4,375,065
Materials 1.7%     7,187,812
Construction materials 1.7%      
Vulcan Materials Company     26,663 7,187,812
Real estate 2.7%     11,570,684
Real estate management and development 0.2%      
Five Point Holdings LLC, Class A (A)     157,076 797,946
Specialized REITs 2.5%      
American Tower Corp.     20,033 3,519,798
Crown Castle, Inc.     42,486 3,234,884
Millrose Properties, Inc., Class A     132,086 4,018,056
    
    Yield (%)   Shares Value
Short-term investments 1.0%         $4,464,727
(Cost $4,464,970)          
Short-term funds 1.0%         4,464,727
John Hancock Collateral Trust (B) 3.6571(C)   446,477 4,464,727
    
Total investments (Cost $323,485,312) 100.6%     $436,340,560
Other assets and liabilities, net (0.6%)       (2,605,455)
Total net assets 100.0%         $433,735,105
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR American Depositary Receipt
(A) Non-income producing security.
(B) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(C) The rate shown is the annualized seven-day yield as of 8-31-26.
At 8-31-26, the aggregate cost of investments for federal income tax purposes was $326,175,231. Net unrealized appreciation aggregated to $110,165,329, of which $124,492,028 related to gross unrealized appreciation and $14,326,699 related to gross unrealized depreciation.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND 4

Table of Contents
Financial statements
STATEMENT OF ASSETS AND LIABILITIES 8-31-26

Assets  
Unaffiliated investments, at value (Cost $319,020,342) $431,875,833
Affiliated investments, at value (Cost $4,464,970) 4,464,727
Total investments, at value (Cost $323,485,312) 436,340,560
Foreign currency, at value (Cost $57) 57
Dividends and interest receivable 123,204
Receivable for fund shares sold 185,144
Receivable for investments sold 8,493,362
Receivable from affiliates 43,545
Other assets 72,290
Total assets 445,258,162
Liabilities  
Payable for investments purchased 10,721,072
Payable for fund shares repurchased 570,994
Payable to affiliates  
Accounting and legal services fees 20,209
Transfer agent fees 34,356
Distribution and service fees 30
Trustees’ fees 179
Other liabilities and accrued expenses 176,217
Total liabilities 11,523,057
Net assets $433,735,105
Net assets consist of  
Paid-in capital $276,518,859
Total distributable earnings (loss) 157,216,246
Net assets $433,735,105
5 JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
STATEMENT OF ASSETS AND LIABILITIES  (continued)

 
Net asset value per share  
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value  
Class A ($153,960,007 ÷ 4,125,145 shares)1 $37.32
Class C ($27,290,002 ÷ 805,365 shares)1 $33.89
Class I ($171,860,902 ÷ 4,449,204 shares) $38.63
Class R2 ($124,630 ÷ 3,328 shares) $37.45
Class R4 ($41,688 ÷ 1,087 shares) $38.362
Class R6 ($80,457,876 ÷ 2,066,386 shares) $38.94
Maximum offering price per share  
Class A (net asset value per share ÷ 95%)3 $39.28
    
1 Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
2 Net asset value, offering price and redemption price per share of $38.36 is calculated using Net assets of $41,688.18 and Shares outstanding of 1,086.77.
3 On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND 6

Table of Contents
STATEMENT OF OPERATIONS For the year ended 8-31-26

Investment income  
Dividends $5,267,534
Dividends from affiliated investments 144,197
Interest 132
Less foreign taxes withheld (64,974)
Total investment income 5,346,889
Expenses  
Investment management fees 3,511,433
Distribution and service fees 766,404
Accounting and legal services fees 93,307
Transfer agent fees 477,651
Trustees’ fees 11,827
Custodian fees 75,548
State registration fees 138,749
Printing and postage 67,624
Professional fees 150,277
Other 27,288
Total expenses 5,320,108
Less expense reductions (355,266)
Net expenses 4,964,842
Net investment income 382,047
Realized and unrealized gain (loss)  
Net realized gain (loss) on  
Unaffiliated investments and foreign currency transactions 82,550,927
Affiliated investments (826)
  82,550,101
Change in net unrealized appreciation (depreciation) of  
Unaffiliated investments (54,533,456)
Affiliated investments (408)
  (54,533,864)
Net realized and unrealized gain 28,016,237
Increase in net assets from operations $28,398,284
7 JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  

  Year ended
8-31-26
Period ended
8-31-251
Year ended
7-31-25
Increase (decrease) in net assets      
From operations      
Net investment income (loss) $382,047 $(29,239) $1,638,172
Net realized gain 82,550,101 16,685,671 17,069,618
Change in net unrealized appreciation (depreciation) (54,533,864) 3,923,213 11,374,225
Increase in net assets resulting from operations 28,398,284 20,579,645 30,082,015
Distributions to shareholders      
From earnings      
Class A (16,477,343) — (103,564)
Class C (3,137,468) — —
Class I (27,076,196) — (821,311)
Class R2 (20,571) — —
Class R4 (3,196) — (67)
Class R6 (9,434,319) — (435,847)
Total distributions (56,149,093) — (1,360,789)
From fund share transactions (151,311,688) (5,224,926) 27,951,535
Total increase (decrease) (179,062,497) 15,354,719 56,672,761
Net assets      
Beginning of year 612,797,602 597,442,883 540,770,122
End of year $433,735,105 $612,797,602 $597,442,883
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND 8

Table of Contents
Financial highlights
CLASS A SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $38.61 $37.32 $35.36 $28.42 $26.23 $29.93
Net investment income (loss)2 (0.04) (0.01) 0.04 0.05 —3 (0.06)
Net realized and unrealized gain (loss) on investments 2.52 1.30 1.94 6.93 3.36 (2.58)
Total from investment operations 2.48 1.29 1.98 6.98 3.36 (2.64)
Less distributions            
From net investment income (0.03) — (0.02) (0.04) — —
From net realized gain (3.74) — — — (1.17) (1.06)
Total distributions (3.77) — (0.02) (0.04) (1.17) (1.06)
Net asset value, end of period $37.32 $38.61 $37.32 $35.36 $28.42 $26.23
Total return (%)4,5 7.10 3.466 5.60 24.58 14.00 (9.29)
Ratios and supplemental data            
Net assets, end of period (in millions) $154 $180 $175 $165 $112 $91
Ratios (as a percentage of average net assets):            
Expenses before reductions 1.19 1.197 1.17 1.20 1.24 1.23
Expenses including reductions 1.12 1.128 1.12 1.13 1.13 1.12
Net investment income (loss) (0.11) (0.24)8 0.10 0.16 —9 (0.21)
Portfolio turnover (%) 42 8 26 12 36 25
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Less than $0.005 per share.
4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5 Does not reflect the effect of sales charges, if any.
6 Not annualized.
7 Annualized. Certain expenses are presented unannualized.
8 Annualized.
9 Less than 0.005%.
9 JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND |  SEE NOTES TO FINANCIAL STATEMENTS

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CLASS C SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $35.60 $34.43 $32.83 $26.54 $24.75 $28.48
Net investment loss2 (0.26) (0.03) (0.20) (0.14) (0.17) (0.24)
Net realized and unrealized gain (loss) on investments 2.29 1.20 1.80 6.43 3.13 (2.43)
Total from investment operations 2.03 1.17 1.60 6.29 2.96 (2.67)
Less distributions            
From net realized gain (3.74) — — — (1.17) (1.06)
Total distributions (3.74) — — — (1.17) (1.06)
Net asset value, end of period $33.89 $35.60 $34.43 $32.83 $26.54 $24.75
Total return (%)3,4 6.33 3.405 4.87 23.70 13.19 (9.88)
Ratios and supplemental data            
Net assets, end of period (in millions) $27 $30 $30 $21 $12 $10
Ratios (as a percentage of average net assets):            
Expenses before reductions 1.89 1.896 1.87 1.90 1.94 1.93
Expenses including reductions 1.82 1.827 1.82 1.83 1.83 1.82
Net investment loss (0.81) (0.94)7 (0.61) (0.54) (0.71) (0.91)
Portfolio turnover (%) 42 8 26 12 36 25
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Does not reflect the effect of sales charges, if any.
5 Not annualized.
6 Annualized. Certain expenses are presented unannualized.
7 Annualized.
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CLASS I SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $39.82 $38.48 $36.43 $29.26 $26.89 $30.56
Net investment income2 0.08 —3 0.15 0.13 0.08 0.03
Net realized and unrealized gain (loss) on investments 2.60 1.34 2.01 7.15 3.46 (2.64)
Total from investment operations 2.68 1.34 2.16 7.28 3.54 (2.61)
Less distributions            
From net investment income (0.13) — (0.11) (0.11) — —
From net realized gain (3.74) — — — (1.17) (1.06)
Total distributions (3.87) — (0.11) (0.11) (1.17) (1.06)
Net asset value, end of period $38.63 $39.82 $38.48 $36.43 $29.26 $26.89
Total return (%)4 7.39 3.485 5.94 24.95 14.33 (9.00)
Ratios and supplemental data            
Net assets, end of period (in millions) $172 $293 $285 $252 $123 $120
Ratios (as a percentage of average net assets):            
Expenses before reductions 0.89 0.896 0.87 0.90 0.94 0.93
Expenses including reductions 0.82 0.827 0.82 0.83 0.83 0.83
Net investment income 0.21 0.067 0.40 0.45 0.31 0.10
Portfolio turnover (%) 42 8 26 12 36 25
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Less than $0.005 per share.
4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5 Not annualized.
6 Annualized. Certain expenses are presented unannualized.
7 Annualized.
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CLASS R2 SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $38.74 $37.45 $35.49 $28.52 $26.34 $30.07
Net investment income (loss)2 (0.07) (0.01) —3 0.02 (0.02) (0.09)
Net realized and unrealized gain (loss) on investments 2.52 1.30 1.96 6.96 3.37 (2.58)
Total from investment operations 2.45 1.29 1.96 6.98 3.35 (2.67)
Less distributions            
From net investment income —3 — — (0.01) — —
From net realized gain (3.74) — — — (1.17) (1.06)
Total distributions (3.74) — — (0.01) (1.17) (1.06)
Net asset value, end of period $37.45 $38.74 $37.45 $35.49 $28.52 $26.34
Total return (%)4 6.97 3.455 5.49 24.49 13.89 (9.35)
Ratios and supplemental data            
Net assets, end of period (in millions) $—6 $—6 $—6 $—6 $—6 $—6
Ratios (as a percentage of average net assets):            
Expenses before reductions 1.28 1.287 1.27 1.29 1.33 1.32
Expenses including reductions 1.21 1.228 1.22 1.21 1.21 1.21
Net investment income (loss) (0.18) (0.33)8 0.01 0.07 (0.09) (0.30)
Portfolio turnover (%) 42 8 26 12 36 25
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Less than $0.005 per share.
4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5 Not annualized.
6 Less than $500,000.
7 Annualized. Certain expenses are presented unannualized.
8 Annualized.
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CLASS R4 SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $39.57 $38.24 $36.23 $29.11 $26.77 $30.45
Net investment income2 0.01 —3 0.10 0.13 0.06 0.01
Net realized and unrealized gain (loss) on investments 2.60 1.33 2.01 7.09 3.45 (2.63)
Total from investment operations 2.61 1.33 2.11 7.22 3.51 (2.62)
Less distributions            
From net investment income (0.08) — (0.10) (0.10) — —
From net realized gain (3.74) — — — (1.17) (1.06)
Total distributions (3.82) — (0.10) (0.10) (1.17) (1.06)
Net asset value, end of period $38.36 $39.57 $38.24 $36.23 $29.11 $26.77
Total return (%)4 7.27 3.485 5.81 24.85 14.28 (9.06)
Ratios and supplemental data            
Net assets, end of period (in millions) $—6 $—6 $—6 $—6 $—6 $—6
Ratios (as a percentage of average net assets):            
Expenses before reductions 1.13 1.137 1.06 1.06 1.11 1.08
Expenses including reductions 0.96 0.978 0.91 0.89 0.89 0.87
Net investment income (loss) 0.05 (0.10)8 0.25 0.40 0.23 0.04
Portfolio turnover (%) 42 8 26 12 36 25
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Less than $0.005 per share.
4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5 Not annualized.
6 Less than $500,000.
7 Annualized. Certain expenses are presented unannualized.
8 Annualized.
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CLASS R6 SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $40.10 $38.75 $36.68 $29.45 $27.03 $30.68
Net investment income2 0.11 0.01 0.19 0.17 0.10 0.06
Net realized and unrealized gain (loss) on investments 2.64 1.34 2.03 7.20 3.49 (2.65)
Total from investment operations 2.75 1.35 2.22 7.37 3.59 (2.59)
Less distributions            
From net investment income (0.17) — (0.15) (0.14) — —
From net realized gain (3.74) — — — (1.17) (1.06)
Total distributions (3.91) — (0.15) (0.14) (1.17) (1.06)
Net asset value, end of period $38.94 $40.10 $38.75 $36.68 $29.45 $27.03
Total return (%)3 7.51 3.484 6.05 25.10 14.44 (8.90)
Ratios and supplemental data            
Net assets, end of period (in millions) $80 $109 $108 $103 $72 $61
Ratios (as a percentage of average net assets):            
Expenses before reductions 0.78 0.785 0.77 0.79 0.83 0.82
Expenses including reductions 0.72 0.726 0.72 0.72 0.72 0.72
Net investment income 0.30 0.176 0.51 0.57 0.40 0.20
Portfolio turnover (%) 42 8 26 12 36 25
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND 14

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Notes to financial statements
Note 1—Organization
John Hancock Fundamental All Cap Core Fund (the fund) is a series of John Hancock Funds II (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek long-term capital appreciation.
The fund may offer multiple classes of shares. The shares currently outstanding are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class I shares are offered to institutions and certain investors. Class R2 and Class R4 shares are available only to certain retirement and 529 plans. Class R6 shares are only available to certain retirement plans, institutions and other investors. Class C shares convert to Class A shares eight years after purchase (certain exclusions may apply). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ.
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC, the fund’s valuation designee.
In order to value the securities, the fund uses the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the fund in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.
In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.
The fund uses a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other
15 JOHN HANCOCK Fundamental All Cap Core Fund |   

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significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
As of August 31, 2026, all investments are categorized as Level 1 under the hierarchy described above.
Real estate investment trusts. The fund may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the fund will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
Foreign taxes. The fund may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the fund as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Overdraft. The fund may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund’s custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
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Line of credit. The fund and other affiliated funds have entered into a syndicated line of credit agreement with The Bank of New York Mellon as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 12, 2027 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. Prior to July 13, 2026, a similar syndicated line of credit agreement was held with Citibank N.A. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on an asset-based allocation and is reflected in Other expenses on the Statement of operations. For the year ended August 31, 2026, the fund had no borrowings under the line of credit. Commitment fees for the year ended August 31, 2026 were $2,325.
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.
Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
As of August 31, 2026, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund’s federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares and pays dividends annually. Capital gain distributions, if any, are typically distributed annually.
The tax character of distributions for the year ended August 31, 2026, period ended August 31, 2025 and the year ended July 31, 2025 was as follows:
  August 31, 2026 August 31, 2025 July 31, 2025
Ordinary income $2,552,907 — $1,360,789
Long-term capital gains 53,596,186 — —
Total $56,149,093 $— $1,360,789
Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of August 31, 2026, the components of distributable earnings on a tax basis consisted of $47,050,917 of undistributed long-term capital gains.
Such distributions and distributable earnings, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund’s financial statements as a return of capital.
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Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to treating a portion of the proceeds from redemptions as distributions for tax purposes and wash sale loss deferrals.
Note 3—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 4—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the fund. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.
Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor equivalent, on an annual basis, to the sum of: a) 0.675% of the first $2.5 billion of the fund’s aggregate net assets; and b) 0.650% of the aggregate net assets in excess of $2.5 billion. Aggregate net assets are the net assets of the fund, Fundamental All Cap Core Trust, a series of John Hancock Variable Insurance Trust and Fundamental All Cap Core ETF, a series of John Hancock Exchange-Traded Fund Trust. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, an indirectly owned subsidiary of Manulife Financial Corporation and an affiliate of the Advisor. The fund is not responsible for payment of the subadvisory fees.
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the year ended August 31, 2026, this waiver amounted to 0.01% of the fund’s average daily net assets. This agreement expires on July 31, 2027, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has contractually agreed to reduce its management fee or, if necessary, make payment to the fund in an amount equal to the amount by which expenses of the fund exceed 0.71% of average daily net assets of the fund. For purposes of this agreement, “expenses of the fund” means all fund expenses, excluding taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund’s business, class-specific expenses, borrowing costs, prime brokerage fees, acquired fund fees and expenses paid indirectly, and short dividend expense. This agreement expires on December 31, 2026, unless renewed by mutual agreement of the fund and the advisor based upon a determination that this is appropriate under the circumstances at that time.
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For the year ended August 31, 2026, the expense reductions described above amounted to the following:
Class Expense reduction
Class A $112,265
Class C 19,857
Class I 160,271
Class R2 111
Class Expense reduction
Class R4 $25
Class R6 62,703
Total $355,232
 
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended August 31, 2026, were equivalent to a net annual effective rate of 0.60% of the fund’s average daily net assets.
Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended August 31, 2026, amounted to an annual rate of 0.02% of the fund’s average daily net assets.
Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. In addition, under a service plan for certain classes as detailed below, the fund pays for certain other services. The fund may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund’s shares:
Class Rule 12b-1 Fee Service fee
Class A 0.30% —
Class C 1.00% —
Class R2 0.25% 0.25%
Class R4 0.25% 0.10%
The fund’s Distributor has contractually agreed to waive 0.10% of Rule 12b-1 fees for Class R4 shares. The current waiver agreement expires on December 31, 2026, unless renewed by mutual agreement of the fund and the Distributor based upon a determination that this is appropriate under the circumstances at the time. This contractual waiver amounted to $34 for Class R4 shares for the year ended August 31, 2026.
Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $129,163 for the year ended August 31, 2026. Of this amount, $21,111 was retained and used for printing prospectuses, advertising, sales literature and other purposes and $108,052 was paid as sales commissions to broker-dealers.
Class A and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares purchased, including those that are acquired through purchases of $1 million or more, and redeemed within one year of purchase are subject to a 1.00% CDSC. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended August 31, 2026, CDSCs received by the Distributor amounted to $9,685 and $10,330 for Class A and Class C shares, respectively.
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Transfer agent fees. The John Hancock group of funds has a complex-wide transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to three categories of share classes: Retail Share Classes of Non-Municipal Bond Funds, Retirement Share Classes and Retail Share Classes of Municipal Bond Funds. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.
Class level expenses. Class level expenses for the year ended August 31, 2026 were as follows:
Class Distribution and service fees Transfer agent fees
Class A $481,919 $175,951
Class C 283,532 31,062
Class I — 266,110
Class R2 833 8
Class R4 120 2
Class R6 — 4,518
Total $766,404 $477,651
Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to the fund based on its net assets relative to other funds within the John Hancock group of funds complex.
Note 5—Fund share transactions
Transactions in fund shares for the year ended August 31, 2026, period ended August 31, 2025 and the year ended July 31, 2025 were as follows:
  Year Ended 8-31-26 Period Ended 8-31-251 Year Ended 7-31-25
  Shares Amount Shares Amount Shares Amount
Class A shares            
Sold 455,146 $16,430,496 57,465 $2,163,638 1,473,073 $52,923,486
Distributions reinvested 471,070 16,459,187 — — 2,766 103,270
Repurchased (1,449,799) (52,119,901) (98,161) (3,708,578) (1,449,755) (50,852,678)
Net increase (decrease) (523,583) $(19,230,218) (40,696) $(1,544,940) 26,084 $2,174,078
Class C shares            
Sold 131,828 $4,356,010 16,565 $570,523 355,265 $11,823,317
Distributions reinvested 98,340 3,135,092 — — — —
Repurchased (274,054) (8,900,042) (32,377) (1,104,383) (118,836) (3,919,844)
Net increase (decrease) (43,886) $(1,408,940) (15,812) $(533,860) 236,429 $7,903,473
Class I shares            
Sold 1,701,540 $63,048,921 153,347 $5,981,886 3,304,909 $121,159,539
Distributions reinvested 749,834 27,061,518 — — 21,374 821,196
Repurchased (5,370,755) (195,534,289) (188,353) (7,305,442) (2,843,916) (102,758,675)
Net increase (decrease) (2,919,381) $(105,423,850) (35,006) $(1,323,556) 482,367 $19,222,060
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  Year Ended 8-31-26 Period Ended 8-31-251 Year Ended 7-31-25
  Shares Amount Shares Amount Shares Amount
Class R2 shares            
Sold 810 $30,660 29 $1,108 338 $12,102
Distributions reinvested 434 15,231 — — — —
Repurchased (2,804) (91,301) (2) (74) (885) (28,324)
Net increase (decrease) (1,560) $(45,410) 27 $1,034 (547) $(16,222)
Class R4 shares            
Sold 234 $8,633 8 $315 141 $5,161
Distributions reinvested 89 3,196 — — 2 67
Repurchased (4) (148) — (9) (2,642) (105,160)
Net increase (decrease) 319 $11,681 8 $306 (2,499) $(99,932)
Class R6 shares            
Sold 358,239 $13,208,879 31,691 $1,242,189 1,117,495 $41,352,952
Distributions reinvested 259,418 9,429,827 — — 11,220 433,759
Repurchased (1,279,656) (47,853,657) (78,346) (3,066,099) (1,156,238) (43,018,633)
Net decrease (661,999) $(25,214,951) (46,655) $(1,823,910) (27,523) $(1,231,922)
Total net increase (decrease) (4,150,090) $(151,311,688) (138,134) $(5,224,926) 714,311 $27,951,535
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
Affiliates of the fund owned 17% of shares of Class R6 on August 31, 2026. Such concentration of shareholders’ capital could have a material effect on the fund if such shareholders redeem from the fund.
Note 6—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments, amounted to $218,373,448 and $418,385,488, respectively, for the year ended August 31, 2026.
Note 7—Industry or sector risk
The fund may invest a large percentage of its assets in one or more particular industries or sectors of the economy. If a large percentage of the fund’s assets are economically tied to a single or small number of industries or sectors of the economy, the fund will be less diversified than a more broadly diversified fund, and it may cause the fund to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the fund’s NAV more volatile. Further, a fund that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors.
Note 8—Investment in affiliated underlying funds
The fund may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the fund’s fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the fund, if any, is as follows:
21 JOHN HANCOCK Fundamental All Cap Core Fund |   

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              Dividends and distributions
Affiliate Ending
share
amount
Beginning
value
Cost of
purchases
Proceeds
from shares
sold
Realized
gain
(loss)
Change in
unrealized
appreciation
(depreciation)
Income
distributions
received
Capital gain
distributions
received
Ending
value
John Hancock Collateral Trust 446,477 $8,545,106 $152,994,440 $(157,073,585) $(826) $(408) $144,197 — $4,464,727
Note 9—Segment reporting
The management committee of the Advisor acts as the fund’s chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation. The fund represents a single operating segment, as the CODM monitors and assesses the operating results of the fund as a whole, and the fund’s long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the fund’s subadvisor. Segment assets are reflected in the Statement of assets and liabilities as “Total assets”, which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statement of operations, which includes “Increase (decrease) in net assets from operations”, Statements of changes in net assets, which includes “Increase (decrease) in net assets from fund share transactions”, and Financial highlights, which includes total return and income and expense ratios.
   | JOHN HANCOCK Fundamental All Cap Core Fund 22

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of John Hancock Funds II and Shareholders of Fundamental All Cap Core Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the fund’s investments, of Fundamental All Cap Core Fund (one of the funds constituting John Hancock Funds II, referred to hereafter as the "Fund") as of August 31, 2026, the related statement of operations for the year ended August 31, 2026, the statement of changes in net assets for the year ended August 31, 2026, for the one month in the period ended August 31, 2025, and for the year ended July 31, 2025, including the related notes, and the financial highlights for each of the periods indicated therein (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 as of August 31, 2026, the results of its operations for the year then ended,  the changes in its net assets for the year ended August 31, 2026, for the one month in the period ended August 31, 2025, and for the year ended July 31, 2025 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’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 Fund 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 of these financial statements 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.
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 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. Our procedures included confirmation of securities owned as of August 31, 2026, by correspondence with the custodian, transfer agent and broker; when replies were not received from the broker, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP 
Boston, Massachusetts
October 15, 2026
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
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Tax information
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended August 31, 2026.
The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
The fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
The fund paid $64,987,533 in long-term capital gain dividends.
The fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Eligible shareholders will be mailed a 2026 Form 1099-DIV in early 2027. This will reflect the tax character of all distributions paid in calendar year 2026.
Please consult a tax advisor regarding the tax consequences of your investment in the fund.
   | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND 24

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EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES

This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Funds II (the Trust) of the Advisory Agreement (the Advisory Agreement) with John Hancock Investment Management LLC (the Advisor) and the Subadvisory Agreement (the Subadvisory Agreement) with Manulife Investment Management (US) LLC (the Subadvisor) for John Hancock Fundamental All Cap Core Fund (the fund). The Advisory Agreement and Subadvisory Agreement are collectively referred to as the Agreements. Prior to the June 22-25, 2026 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a meeting held on May 26-28, 2026. The Trustees who are not “interested persons” of the Trust as defined by the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.
Approval of Advisory and Subadvisory Agreements
At meetings held on June 22-25, 2026, the Board, including the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the 1940 Act, reapproved for an annual period the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to the fund.
In considering the Advisory Agreement and the Subadvisory Agreement, the Board received in advance of the meetings a variety of materials relating to the fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for a peer group of similar funds prepared by an independent third-party provider of fund data, performance information for an applicable benchmark index; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable, and other information provided by the Advisor and the Subadvisor regarding the nature, extent, and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the fund and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning fund performance, comparability of fees and total expenses, and profitability. However, the Board noted that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the fund, including quarterly performance reports prepared by management containing reviews of investment results and prior presentations from the Subadvisor with respect to the fund. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of non-advisory services, if any, to be provided to the fund by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the fund.
Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.
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Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets, and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board’s conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board’s ongoing regular review of fund performance and operations throughout the year.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor’s compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the fund’s compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund’s compliance programs, risk management programs, liquidity risk management programs, derivatives risk management programs, and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the fund, including, but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the fund including entrepreneurial risk in sponsoring new funds, and ongoing risks, including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management and the quality of the performance of the Advisor’s duties, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
(a) the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues;
(b) the background, qualifications and skills of the Advisor’s personnel;
(c) the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;
(d) the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund;
(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; and
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(f) the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.
The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the fund.
Investment performance. In considering the fund’s performance, the Board noted that it reviews at its regularly scheduled meetings information about the fund’s performance results. In connection with the consideration of the Advisory Agreement, the Board:
(a) reviewed information prepared by management regarding the fund’s performance;
(b) considered the comparative performance of an applicable benchmark index;
(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and
(d) took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally.
The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and the results of the performance comparisons may vary depending on the selection and size of the peer group. The Board noted that the fund underperformed its benchmark index for the one-, three-, five-, and ten-year periods ended December 31, 2025. The Board also noted that the fund underperformed its peer group median for the one-, three-, and five-year periods ended December 31, 2025, and outperformed its peer group median for the ten-year period ended December 31, 2025. The Board took into account management’s discussion of the factors that contributed to the fund’s performance for the one-, three-, five-, and ten-year periods relative to the benchmark index and the one-, three-, and five-year periods relative to the peer group median, including the impact of past and current market conditions on the fund’s strategy and management’s outlook for the fund. The Board concluded that the fund’s performance is being monitored and reasonably addressed, where appropriate.
Fees and expenses.  The Board reviewed comparative information prepared by an independent third-party provider of fund data, including, among other data, the fund’s contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the fund in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and the Subadvisor, respectively. The Board considered the fund’s ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the fund’s ranking within a broader group of funds. In comparing the fund’s contractual and net management fees to those of comparable funds, the Board noted that such fees include both advisory and administrative costs. The Board noted that net management fees for the fund are lower than the peer group median and net total expenses for the fund are higher than the peer group median.
The Board took into account management’s discussion of the fund’s expenses. The Board also took into account management’s discussion with respect to the overall management fee and the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fee. In addition, the Board took into account that management had agreed to implement an overall fee waiver across the complex, including the fund, which is discussed further below. The Board also noted actions taken over the past several years to reduce the fund’s operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to the fund and that the fund has breakpoints in its contractual management fee schedule that reduces management fees as assets increase. The Board reviewed information provided by the Advisor concerning the investment advisory fee
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charged by the Advisor or one of its advisory affiliates to other clients (including other funds in the John Hancock Fund Complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to the fund and the services they provide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to the fund is reasonable in light of the nature, extent, and quality of the services provided to the fund under the Advisory Agreement.
Profitability/Fall out benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates (including the Subadvisor) from the Advisor’s relationship with the Trust, the Board:
(a) reviewed financial information of the Advisor;
(b) reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund;
(c) received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund;
(d) received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies;
(e) considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board;
(f) considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement;
(g) noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund;
(h) noted that the fund’s Subadvisor is an affiliate of the Advisor;
(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund;
(j) noted that the subadvisory fee for the fund is paid by the Advisor;
(k) considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and
(l) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.
Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates (including the Subadvisor) from their relationship with the fund was not unreasonable in view of all factors considered.
Economies of scale. In considering the extent to which economies of scale would be realized as the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
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(a) considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund;
(b) reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and
(c) also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale.
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
(1) information relating to the Subadvisor’s business, including current subadvisory services to the fund (and other funds in the John Hancock Fund Complex);
(2) the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; and
(3) the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data.
Nature, extent, and quality of services.
With respect to the services provided by the Subadvisor, the Board received information provided to the Board by the Subadvisor, including the Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as received information relating to the Subadvisor’s compensation program. The Board reviewed the Subadvisor’s history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor’s investment and compliance personnel who provide services to the fund. The Board also considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of the Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor’s investment process and philosophy. The Board took into account that the Subadvisor’s responsibilities include the development and maintenance of an investment program for the fund that is consistent with the fund’s investment objective, the selection of investment securities and the placement of
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orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor’s brokerage policies and practices, including with respect to best execution and soft dollars.
Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor, the Board noted that the fees under the Subadvisory Agreement are paid by the Advisor and not the fund. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered the fund’s subadvisory fees as compared to similarly situated investment companies deemed to be comparable to the fund as included in the report prepared by the independent third party provider of fund data, to the extent available. The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the fund and compared them to fees charged by the Subadvisor to manage other subadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.
Subadvisor performance.
As noted above, the Board considered the fund’s performance as compared to the fund’s peer group median and the benchmark index and noted that the Board reviews information about the fund’s performance results at its regularly scheduled meetings. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, as applicable.
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
(1) the Subadvisor has extensive experience and demonstrated skills as a manager;
(2) the performance of the fund is being monitored and reasonably addressed, where appropriate;
(3) the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and
(4) the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows.
***
Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement for an additional one-year period.
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Other N-CSR Items
(Unaudited)
Item 8.  Changes in and disagreements with accountants
None.
Item 9.  Proxy disclosures
When applicable, results of shareholder voting are included in the Shareholder meeting section of this report.
Item 10.  Remuneration paid to Trustees, officers, and others
Trustees’ fees are included in the financial statements.
Item 11.  Statement regarding basis for approval of investment advisory contract
When applicable, the statement regarding the basis for approval of any investment advisory contract is included in the Evaluation of advisory and subadvisory agreements by the Board of Trustees section of this report.
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John Hancock Investment Management Distributors LLC, Member FINRA, SIPC
200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Fundamental All Cap Core Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF5889509 376A 8/26
10/26


Annual Financial Statements & Other N-CSR Items
John Hancock
Global Equity Fund
International equity
August 31, 2026

John Hancock
Global Equity Fund
Table of contents
2 Fund’s investments
5 Financial statements
8 Financial highlights
15 Notes to financial statements
24 Report of independent registered public accounting firm
25 Tax information
26 Evaluation of advisory and subadvisory agreements by the Board of Trustees
32 Other N-CSR Items
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Fund’s investments
AS OF 8-31-26
        Shares Value
Common stocks 98.7%         $1,078,051,294
(Cost $901,369,909)          
Belgium 2.0%         21,954,768
Anheuser-Busch InBev SA/NV   277,438 21,954,768
Canada 1.4%         15,516,385
Agnico Eagle Mines, Ltd.   76,394 15,516,385
Denmark 1.2%         13,350,151
DSV A/S   63,534 13,350,151
France 3.7%         40,566,695
Air Liquide SA   59,290 11,663,770
Publicis Groupe SA   107,139 12,568,036
TotalEnergies SE   185,384 16,334,889
Germany 2.3%         25,041,423
Deutsche Bank AG   356,722 14,286,526
Deutsche Telekom AG   327,258 10,754,897
Hong Kong 0.9%         10,292,135
Prudential PLC   756,716 10,292,135
Ireland 7.9%         85,681,420
Bank of Ireland Group PLC   963,447 21,256,526
CRH PLC   231,694 21,846,427
Medtronic PLC   194,243 17,608,128
Ryanair Holdings PLC, ADR   250,157 13,851,193
Smurfit WestRock PLC   237,082 11,119,146
Japan 7.8%         85,386,173
Mitsubishi Estate Company, Ltd.   476,900 11,225,954
Seven & i Holdings Company, Ltd.   815,300 10,320,050
Sony Group Corp.   909,000 22,462,260
Sumitomo Mitsui Trust Group, Inc.   2,083,600 23,066,016
Suzuki Motor Corp.   1,322,700 18,311,893
Netherlands 6.2%         67,221,526
Airbus SE   54,133 12,354,462
ASML Holding NV   6,876 11,661,904
Euronext NV (A)   95,531 18,085,590
ING Groep NV   313,938 11,113,545
NN Group NV   154,920 14,006,025
Switzerland 4.2%         45,896,404
Chubb, Ltd.   39,285 13,301,901
Roche Holding AG   48,366 21,083,749
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK GLOBAL EQUITY FUND 2

Table of Contents
        Shares Value
Switzerland (continued)          
SGS SA   100,428 $11,510,754
Taiwan 2.1%         23,221,911
Taiwan Semiconductor Manufacturing Company, Ltd.   309,000 23,221,911
United Kingdom 7.9%         86,282,140
Anglo American PLC   305,501 17,318,919
AstraZeneca PLC   96,752 15,598,099
British American Tobacco PLC   388,167 21,567,940
Haleon PLC   2,243,749 11,176,192
National Grid PLC   1,307,118 20,620,990
United States 51.1%         557,640,163
Allison Transmission Holdings, Inc.   99,477 12,505,254
Alphabet, Inc., Class A   95,647 32,457,809
Amazon.com, Inc. (B)   63,515 16,499,292
American Electric Power Company, Inc.   171,501 20,996,867
Analog Devices, Inc.   56,983 20,635,824
Arthur J. Gallagher & Company   49,884 13,077,091
AutoZone, Inc. (B)   3,657 10,938,965
Bank of America Corp.   178,037 11,027,612
Carrier Global Corp.   252,201 14,683,142
Cheniere Energy, Inc.   42,781 12,478,790
Chevron Corp.   59,058 12,174,216
Cisco Systems, Inc.   156,764 17,320,854
Citigroup, Inc.   122,505 16,124,108
Citizens Financial Group, Inc.   237,015 16,323,223
ConocoPhillips   142,937 18,937,723
Darden Restaurants, Inc.   67,830 14,533,256
DuPont de Nemours, Inc.   82,324 11,079,987
Emerson Electric Company   70,426 10,735,739
EQT Corp.   294,757 15,969,934
Intercontinental Exchange, Inc.   85,105 13,676,374
International Flavors & Fragrances, Inc.   230,289 19,880,849
Johnson & Johnson   65,518 17,417,960
L3Harris Technologies, Inc.   45,013 11,984,711
Lowe’s Companies, Inc.   63,929 13,086,266
McKesson Corp.   25,915 22,943,068
Meta Platforms, Inc., Class A   27,064 15,489,810
Micron Technology, Inc.   11,782 11,295,757
Microsoft Corp.   130,938 66,423,538
PepsiCo, Inc.   119,406 16,757,438
The Walt Disney Company   168,881 18,163,152
U.S. Foods Holding Corp. (B)   152,195 15,956,124
Wells Fargo & Company   185,964 16,065,430
    
3 JOHN HANCOCK GLOBAL EQUITY FUND |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
    Yield (%)   Shares Value
Short-term investments 1.1%       $11,509,688
(Cost $11,509,688)          
Short-term funds 1.1%         11,509,688
JPMorgan U.S. Treasury Plus Money Market Fund, Institutional Class 3.5314(C)   11,509,688 11,509,688
    
Total investments (Cost $912,879,597) 99.8%     $1,089,560,982
Other assets and liabilities, net 0.2%     2,151,104
Total net assets 100.0%         $1,091,712,086
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR American Depositary Receipt
(A) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(B) Non-income producing security.
(C) The rate shown is the annualized seven-day yield as of 8-31-26.
At 8-31-26, the aggregate cost of investments for federal income tax purposes was $919,601,071. Net unrealized appreciation aggregated to $169,959,911, of which $182,291,932 related to gross unrealized appreciation and $12,332,021 related to gross unrealized depreciation.
The fund had the following sector composition as a percentage of net assets on 8-31-26:
Financials 19.4%
Information technology 13.8%
Industrials 10.3%
Health care 9.7%
Materials 8.9%
Consumer discretionary 8.8%
Communication services 8.2%
Consumer staples 7.9%
Energy 6.9%
Utilities 3.8%
Real estate 1.0%
Short-term investments and other 1.3%
TOTAL 100.0%
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK GLOBAL EQUITY FUND 4

Table of Contents
Financial statements
STATEMENT OF ASSETS AND LIABILITIES 8-31-26

Assets  
Unaffiliated investments, at value (Cost $912,879,597) $1,089,560,982
Foreign currency, at value (Cost $1,222) 1,230
Dividends and interest receivable 2,227,317
Receivable for fund shares sold 222,147
Other assets 80,381
Total assets 1,092,092,057
Liabilities  
Payable for fund shares repurchased 126,722
Payable to affiliates  
Accounting and legal services fees 50,298
Transfer agent fees 28,497
Distribution and service fees 12
Trustees’ fees 460
Other liabilities and accrued expenses 173,982
Total liabilities 379,971
Net assets $1,091,712,086
Net assets consist of  
Paid-in capital $1,000,641,985
Total distributable earnings (loss) 91,070,101
Net assets $1,091,712,086
 
Net asset value per share  
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value  
Class A ($69,962,315 ÷ 5,020,983 shares)1 $13.93
Class C ($1,516,180 ÷ 109,775 shares)1 $13.81
Class I ($230,745,404 ÷ 16,516,917 shares) $13.97
Class R2 ($45,184 ÷ 3,231 shares) $13.98
Class R4 ($31,971 ÷ 2,290 shares) $13.96
Class R6 ($25,955,363 ÷ 1,860,163 shares) $13.95
Class NAV ($763,455,669 ÷ 54,690,267 shares) $13.96
Maximum offering price per share  
Class A (net asset value per share ÷ 95%)2 $14.66
    
1 Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
2 On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced.
5 JOHN HANCOCK Global Equity Fund |  SEE NOTES TO FINANCIAL STATEMENTS

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STATEMENT OF OPERATIONS For the year ended 8-31-26

Investment income  
Dividends $19,378,716
Tax reclaims 1,386,347
Interest 49,717
Less foreign taxes withheld (769,787)
Total investment income 20,044,993
Expenses  
Investment management fees 7,462,061
Distribution and service fees 214,165
Accounting and legal services fees 163,568
Transfer agent fees 248,593
Trustees’ fees 20,189
Custodian fees 256,558
State registration fees 127,966
Printing and postage 44,565
Professional fees 124,262
Other 55,384
Total expenses 8,717,311
Less expense reductions (87,518)
Net expenses 8,629,793
Net investment income 11,415,200
Realized and unrealized gain (loss)  
Net realized gain (loss) on  
Unaffiliated investments and foreign currency transactions 118,615,136
  118,615,136
Change in net unrealized appreciation (depreciation) of  
Unaffiliated investments and translation of assets and liabilities in foreign currencies 14,826,095
  14,826,095
Net realized and unrealized gain 133,441,231
Increase in net assets from operations $144,856,431
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Global Equity Fund 6

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STATEMENTS OF CHANGES IN NET ASSETS  

  Year ended
8-31-26
Year ended
8-31-25
Increase (decrease) in net assets    
From operations    
Net investment income $11,415,200 $9,548,858
Net realized gain 118,615,136 53,525,796
Change in net unrealized appreciation (depreciation) 14,826,095 2,161,494
Increase in net assets resulting from operations 144,856,431 65,236,148
Distributions to shareholders    
From earnings    
Class A (4,916,898) (6,661,380)
Class C (102,723) (222,505)
Class I (15,188,520) (3,158,051)
Class R2 (2,984) (37,020)
Class R4 (2,085) (2,579)
Class R6 (2,189,326) (3,531,380)
Class NAV (48,455,833) (55,649,448)
Total distributions (70,858,369) (69,262,363)
From fund share transactions 284,046,635 138,827,396
Total increase 358,044,697 134,801,181
Net assets    
Beginning of year 733,667,389 598,866,208
End of year $1,091,712,086 $733,667,389
7 JOHN HANCOCK Global Equity Fund |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
Financial highlights
CLASS A SHARES Period ended 8-31-26 8-31-25 8-31-24 8-31-23 8-31-22
Per share operating performance          
Net asset value, beginning of period $13.12 $13.74 $11.63 $10.89 $15.43
Net investment income1 0.10 0.13 0.11 0.10 0.12
Net realized and unrealized gain (loss) on investments 1.75 0.80 2.32 1.35 (1.91)
Total from investment operations 1.85 0.93 2.43 1.45 (1.79)
Less distributions          
From net investment income (0.12) (0.12) (0.13) (0.06) (0.20)
From net realized gain (0.92) (1.43) (0.19) (0.65) (2.55)
Total distributions (1.04) (1.55) (0.32) (0.71) (2.75)
Net asset value, end of period $13.93 $13.12 $13.74 $11.63 $10.89
Total return (%)2,3 14.87 8.15 21.27 14.22 (14.08)
Ratios and supplemental data          
Net assets, end of period (in millions) $70 $64 $61 $52 $48
Ratios (as a percentage of average net assets):          
Expenses before reductions 1.29 1.30 1.31 1.31 1.29
Expenses including reductions 1.28 1.29 1.30 1.30 1.28
Net investment income 0.79 1.04 0.88 0.93 0.98
Portfolio turnover (%) 82 64 36 48 65
    
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Does not reflect the effect of sales charges, if any.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Global Equity Fund 8

Table of Contents
CLASS C SHARES Period ended 8-31-26 8-31-25 8-31-24 8-31-23 8-31-22
Per share operating performance          
Net asset value, beginning of period $13.01 $13.63 $11.55 $10.84 $15.36
Net investment income1 0.01 0.04 0.02 0.02 0.03
Net realized and unrealized gain (loss) on investments 1.74 0.80 2.30 1.34 (1.90)
Total from investment operations 1.75 0.84 2.32 1.36 (1.87)
Less distributions          
From net investment income (0.03) (0.03) (0.05) — (0.10)
From net realized gain (0.92) (1.43) (0.19) (0.65) (2.55)
Total distributions (0.95) (1.46) (0.24) (0.65) (2.65)
Net asset value, end of period $13.81 $13.01 $13.63 $11.55 $10.84
Total return (%)2,3 14.14 7.39 20.37 13.36 (14.65)
Ratios and supplemental data          
Net assets, end of period (in millions) $2 $2 $2 $2 $2
Ratios (as a percentage of average net assets):          
Expenses before reductions 1.99 2.00 2.01 2.01 1.99
Expenses including reductions 1.98 1.99 2.00 2.00 1.98
Net investment income 0.08 0.29 0.19 0.21 0.27
Portfolio turnover (%) 82 64 36 48 65
    
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Does not reflect the effect of sales charges, if any.
9 JOHN HANCOCK Global Equity Fund |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
CLASS I SHARES Period ended 8-31-26 8-31-25 8-31-24 8-31-23 8-31-22
Per share operating performance          
Net asset value, beginning of period $13.14 $13.76 $11.65 $10.91 $15.46
Net investment income1 0.17 0.15 0.16 0.13 0.16
Net realized and unrealized gain (loss) on investments 1.74 0.82 2.30 1.36 (1.92)
Total from investment operations 1.91 0.97 2.46 1.49 (1.76)
Less distributions          
From net investment income (0.16) (0.16) (0.16) (0.10) (0.24)
From net realized gain (0.92) (1.43) (0.19) (0.65) (2.55)
Total distributions (1.08) (1.59) (0.35) (0.75) (2.79)
Net asset value, end of period $13.97 $13.14 $13.76 $11.65 $10.91
Total return (%)2 15.34 8.48 21.58 14.57 (13.84)
Ratios and supplemental data          
Net assets, end of period (in millions) $231 $19 $26 $15 $21
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.99 1.00 1.01 1.01 0.99
Expenses including reductions 0.98 0.99 1.00 1.00 0.98
Net investment income 1.26 1.19 1.25 1.20 1.31
Portfolio turnover (%) 82 64 36 48 65
    
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Global Equity Fund 10

Table of Contents
CLASS R2 SHARES Period ended 8-31-26 8-31-25 8-31-24 8-31-23 8-31-22
Per share operating performance          
Net asset value, beginning of period $13.16 $13.77 $11.65 $10.92 $15.46
Net investment income1 0.09 0.08 0.11 0.10 0.11
Net realized and unrealized gain (loss) on investments 1.76 0.85 2.32 1.33 (1.91)
Total from investment operations 1.85 0.93 2.43 1.43 (1.80)
Less distributions          
From net investment income (0.11) (0.11) (0.12) (0.05) (0.19)
From net realized gain (0.92) (1.43) (0.19) (0.65) (2.55)
Total distributions (1.03) (1.54) (0.31) (0.70) (2.74)
Net asset value, end of period $13.98 $13.16 $13.77 $11.65 $10.92
Total return (%)2 14.88 8.10 21.22 13.96 (14.12)
Ratios and supplemental data          
Net assets, end of period (in millions) $—3 $—3 $—3 $—3 $—3
Ratios (as a percentage of average net assets):          
Expenses before reductions 1.39 1.39 1.40 1.40 1.38
Expenses including reductions 1.38 1.38 1.39 1.39 1.37
Net investment income 0.71 0.59 0.84 0.94 0.91
Portfolio turnover (%) 82 64 36 48 65
    
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Less than $500,000.
11 JOHN HANCOCK Global Equity Fund |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
CLASS R4 SHARES Period ended 8-31-26 8-31-25 8-31-24 8-31-23 8-31-22
Per share operating performance          
Net asset value, beginning of period $13.14 $13.76 $11.65 $10.91 $15.46
Net investment income1 0.13 0.13 0.14 0.13 0.15
Net realized and unrealized gain (loss) on investments 1.75 0.83 2.31 1.34 (1.91)
Total from investment operations 1.88 0.96 2.45 1.47 (1.76)
Less distributions          
From net investment income (0.14) (0.15) (0.15) (0.08) (0.24)
From net realized gain (0.92) (1.43) (0.19) (0.65) (2.55)
Total distributions (1.06) (1.58) (0.34) (0.73) (2.79)
Net asset value, end of period $13.96 $13.14 $13.76 $11.65 $10.91
Total return (%)2 15.11 8.32 21.56 14.45 (13.88)
Ratios and supplemental data          
Net assets, end of period (in millions) $—3 $—3 $—3 $—3 $—3
Ratios (as a percentage of average net assets):          
Expenses before reductions 1.24 1.20 1.18 1.17 1.15
Expenses including reductions 1.13 1.09 1.07 1.07 1.04
Net investment income 0.95 0.98 1.11 1.16 1.19
Portfolio turnover (%) 82 64 36 48 65
    
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Less than $500,000.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Global Equity Fund 12

Table of Contents
CLASS R6 SHARES Period ended 8-31-26 8-31-25 8-31-24 8-31-23 8-31-22
Per share operating performance          
Net asset value, beginning of period $13.13 $13.75 $11.64 $10.91 $15.46
Net investment income1 0.15 0.19 0.16 0.13 0.16
Net realized and unrealized gain (loss) on investments 1.76 0.79 2.31 1.36 (1.90)
Total from investment operations 1.91 0.98 2.47 1.49 (1.74)
Less distributions          
From net investment income (0.17) (0.17) (0.17) (0.11) (0.26)
From net realized gain (0.92) (1.43) (0.19) (0.65) (2.55)
Total distributions (1.09) (1.60) (0.36) (0.76) (2.81)
Net asset value, end of period $13.95 $13.13 $13.75 $11.64 $10.91
Total return (%)2 15.40 8.61 21.72 14.60 (13.73)
Ratios and supplemental data          
Net assets, end of period (in millions) $26 $33 $30 $20 $87
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.89 0.89 0.90 0.90 0.88
Expenses including reductions 0.88 0.88 0.89 0.89 0.87
Net investment income 1.16 1.47 1.28 1.23 1.24
Portfolio turnover (%) 82 64 36 48 65
    
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
13 JOHN HANCOCK Global Equity Fund |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
CLASS NAV SHARES Period ended 8-31-26 8-31-25 8-31-24 8-31-23 8-31-22
Per share operating performance          
Net asset value, beginning of period $13.14 $13.76 $11.65 $10.91 $15.46
Net investment income1 0.17 0.19 0.16 0.15 0.18
Net realized and unrealized gain (loss) on investments 1.74 0.80 2.31 1.35 (1.92)
Total from investment operations 1.91 0.99 2.47 1.50 (1.74)
Less distributions          
From net investment income (0.17) (0.18) (0.17) (0.11) (0.26)
From net realized gain (0.92) (1.43) (0.19) (0.65) (2.55)
Total distributions (1.09) (1.61) (0.36) (0.76) (2.81)
Net asset value, end of period $13.96 $13.14 $13.76 $11.65 $10.91
Total return (%)2 15.39 8.61 21.71 14.71 (13.72)
Ratios and supplemental data          
Net assets, end of period (in millions) $763 $616 $480 $498 $566
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.88 0.89 0.89 0.89 0.87
Expenses including reductions 0.87 0.88 0.89 0.88 0.86
Net investment income 1.26 1.51 1.27 1.34 1.39
Portfolio turnover (%) 82 64 36 48 65
    
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Global Equity Fund 14

Table of Contents
Notes to financial statements
Note 1—Organization
John Hancock Global Equity Fund (the fund) is a series of John Hancock Funds II (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek long-term capital appreciation.
The fund may offer multiple classes of shares. The shares currently outstanding are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class I shares are offered to institutions and certain investors. Class R2 and Class R4 shares are available only to certain retirement and 529 plans. Class R6 shares are only available to certain retirement plans, institutions and other investors. Class NAV shares are offered to John Hancock affiliated funds of funds, retirement plans for employees of John Hancock and/or Manulife Financial Corporation, and certain 529 plans. Class C shares convert to Class A shares eight years after purchase (certain exclusions may apply). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ.
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC, the fund’s valuation designee.
In order to value the securities, the fund uses the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the fund in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.
In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee,
15 JOHN HANCOCK Global Equity Fund |   

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following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.
The fund uses a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
The following is a summary of the values by input classification of the fund’s investments as of August 31, 2026, by major security category or type:
  Total
value at
8-31-26
Level 1
quoted
price
Level 2
significant
observable
inputs
Level 3
significant
unobservable
inputs
Investments in securities:        
Assets        
Common stocks        
Belgium $21,954,768 — $21,954,768 —
Canada 15,516,385 $15,516,385 — —
Denmark 13,350,151 — 13,350,151 —
France 40,566,695 — 40,566,695 —
Germany 25,041,423 — 25,041,423 —
Hong Kong 10,292,135 — 10,292,135 —
Ireland 85,681,420 64,424,894 21,256,526 —
Japan 85,386,173 — 85,386,173 —
Netherlands 67,221,526 — 67,221,526 —
Switzerland 45,896,404 13,301,901 32,594,503 —
Taiwan 23,221,911 — 23,221,911 —
United Kingdom 86,282,140 — 86,282,140 —
United States 557,640,163 557,640,163 — —
Short-term investments 11,509,688 11,509,688 — —
Total investments in securities $1,089,560,982 $662,393,031 $427,167,951 —
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until
   | JOHN HANCOCK Global Equity Fund 16

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after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
Foreign taxes. The fund may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the fund as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Reclaim receivables are accrued based on a number of factors, including a jurisdiction’s legal obligation to pay reclaims as well as payment history and market convention. Withholding tax reclaims may be required to be filed in certain countries to recover a portion of amounts previously withheld, and tax reclaim income is accrued when the fund becomes aware that the reclaim will be paid.  Income accrued, if any, for such tax reclaims is reflected as Tax reclaims in the Statement of operations and any related receivable is reflected as Tax reclaims receivable in the Statement of assets and liabilities. Any fees associated with these filings are reflected in Professional fees in the Statement of operations.
Overdraft. The fund may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund’s custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
Line of credit. The fund and other affiliated funds have entered into a syndicated line of credit agreement with The Bank of New York Mellon as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 12, 2027 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. Prior to July 13, 2026, a similar syndicated line of credit agreement was held with Citibank N.A. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on an asset-based allocation and is reflected in Other expenses on the Statement of operations. Commitment fees for the year ended August 31, 2026 were $4,650.
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Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.
Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as of August 31, 2026, the fund has a short-term capital loss carryforward of $20,121,959 and a long-term capital loss carryforward of $159,131,075 available to offset future net realized capital gains. These carryforwards do not expire.
The utilization of the loss carryforwards, which were acquired in a merger, are limited to $3,061,921 each fiscal year due to IRC Section 382 limitations. Any unused portion of this limitation will carryforward to the following fiscal year.
As of August 31, 2026, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund’s federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares and pays dividends annually. Capital gain distributions, if any, are typically distributed annually.
The tax character of distributions for the years ended August 31, 2026 and 2025 was as follows:
  August 31, 2026 August 31, 2025
Ordinary income $11,932,364 $7,308,893
Long-term capital gains 58,926,005 61,953,470
Total $70,858,369 $69,262,363
Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of August 31, 2026, the components of distributable earnings on a tax basis consisted of $27,359,692 of undistributed ordinary income and $73,001,144 of undistributed long-term capital gains.
Such distributions and distributable earnings, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund’s financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to spin-off adjustments, treating a portion of the proceeds from redemptions as distributions for tax purposes, and wash sale loss deferrals.
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Note 3—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 4—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the fund. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.
Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor equivalent on an annual basis to the sum of: a) 0.800% of the first $1 billion of the fund’s aggregate net assets and b) 0.790% of the fund’s aggregate net assets in excess over $1 billion. Aggregate net assets include the net assets of the fund as well as Global Equity Trust, a series of John Hancock Variable Insurance Trust. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, a division of Manulife Asset Management (US) LLC, an indirectly owned subsidiary of Manulife Financial Corporation and an affiliate of the Advisor. The fund is not responsible for payment of the subadvisory fees.
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the year ended August 31, 2026, this waiver amounted to 0.01% of the fund’s average daily net assets. This agreement expires on July 31, 2027, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor contractually agreed to reduce its management fee or, if necessary, make payment to the fund, in an amount equal to the amount by which expenses of the fund exceed 0.89% of average net assets. For purposes of this agreement, “expenses of the fund” means all fund expenses, excluding taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund’s business, class specific expenses, acquired fund fees and expenses paid indirectly, borrowing costs, prime brokerage fees, and short dividend expense. This agreement expired on December 31, 2025.
For the year ended August 31, 2026, the expense reductions described above amounted to the following:
Class Expense reduction
Class A $6,169
Class C 143
Class I 14,876
Class R2 4
Class Expense reduction
Class R4 $3
Class R6 2,640
Class NAV 63,655
Total $87,490
 
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended August 31, 2026, were equivalent to a net annual effective rate of 0.79% of the fund’s average daily net assets.
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Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended August 31, 2026, amounted to an annual rate of 0.02% of the fund’s average daily net assets.
Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. In addition, under a service plan for certain classes as detailed below, the fund pays for certain other services. The fund may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund’s shares:
Class Rule 12b-1 Fee Service fee
Class A 0.30% —
Class C 1.00% —
Class R2 0.25% 0.25%
Class R4 0.25% 0.10%
The fund’s Distributor has contractually agreed to waive 0.10% of Rule 12b-1 fees for Class R4 shares. The current waiver agreement expires on December 31, 2026, unless renewed by mutual agreement of the fund and the Distributor based upon a determination that this is appropriate under the circumstances at the time. This contractual waiver amounted to $28 for Class R4 shares for the year ended August 31, 2026.
Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $11,424 for the year ended August 31, 2026. Of this amount, $1,926 was retained and used for printing prospectuses, advertising, sales literature and other purposes and $9,498 was paid as sales commissions to broker-dealers.
Class A and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares purchased, including those that are acquired through purchases of $1 million or more, and redeemed within one year of purchase are subject to a 1.00% CDSC. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended August 31, 2026, CDSCs received by the Distributor amounted to $3 and $55 for Class A and Class C shares, respectively.
Transfer agent fees. The John Hancock group of funds has a complex-wide transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to three categories of share classes: Retail Share Classes of Non-Municipal Bond Funds, Retirement Share Classes and Retail Share Classes of Municipal Bond Funds. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.
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Class level expenses. Class level expenses for the year ended August 31, 2026 were as follows:
Class Distribution and service fees Transfer agent fees
Class A $198,501 $72,504
Class C 15,362 1,683
Class I — 173,006
Class R2 203 2
Class R4 99 1
Class R6 — 1,397
Total $214,165 $248,593
Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to the fund based on its net assets relative to other funds within the John Hancock group of funds complex.
Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the fund, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the fund to borrow from, or lend money to, other participating affiliated funds. At period end, no interfund loans were outstanding. Interest expense is included in Other expenses on the Statement of operations. The fund’s activity in this program during the period for which loans were outstanding was as follows:
Borrower
or Lender
Weighted Average
Loan Balance
Days
Outstanding
Weighted Average
Interest Rate
Interest Income
(Expense)
Borrower $12,233,333 3 4.136% $(4,216)
Note 5—Fund share transactions
Transactions in fund shares for the years ended August 31, 2026 and 2025 were as follows:
  Year Ended 8-31-26 Year Ended 8-31-25
  Shares Amount Shares Amount
Class A shares        
Sold 713,381 $9,475,232 721,563 $8,962,408
Distributions reinvested 376,052 4,764,581 549,644 6,447,322
Repurchased (942,405) (12,528,788) (826,877) (10,441,773)
Net increase 147,028 $1,711,025 444,330 $4,967,957
Class C shares        
Sold 10,703 $139,635 10,732 $138,025
Distributions reinvested 8,140 102,723 19,017 222,505
Repurchased (40,213) (534,396) (47,790) (583,457)
Net decrease (21,370) $(292,038) (18,041) $(222,927)
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  Year Ended 8-31-26 Year Ended 8-31-25
  Shares Amount Shares Amount
Class I shares        
Sold 16,567,134 $223,506,175 366,268 $4,764,522
Distributions reinvested 1,197,601 15,185,584 268,892 3,154,103
Repurchased (2,661,704) (35,602,810) (1,088,867) (13,198,260)
Net increase (decrease) 15,103,031 $203,088,949 (453,707) $(5,279,635)
Class R2 shares        
Sold 330 $4,481 7,582 $102,625
Distributions reinvested 234 2,984 3,145 37,020
Repurchased (170) (2,250) (24,988) (301,190)
Net increase (decrease) 394 $5,215 (14,261) $(161,545)
Class R4 shares        
Sold 195 $2,625 200 $2,584
Distributions reinvested 165 2,085 220 2,579
Repurchased (27) (360) (3,967) (54,753)
Net increase (decrease) 333 $4,350 (3,547) $(49,590)
Class R6 shares        
Sold 393,934 $5,309,586 588,037 $7,239,209
Distributions reinvested 173,069 2,189,326 301,570 3,531,380
Repurchased (1,247,170) (16,795,445) (526,475) (6,540,635)
Net increase (decrease) (680,167) $(9,296,533) 363,132 $4,229,954
Class NAV shares        
Sold 20,386,690 $260,611,943 12,973,558 $152,941,231
Distributions reinvested 3,827,475 48,455,833 4,748,246 55,649,448
Repurchased (16,411,335) (220,242,109) (5,721,143) (73,247,497)
Net increase 7,802,830 $88,825,667 12,000,661 $135,343,182
Total net increase 22,352,079 $284,046,635 12,318,567 $138,827,396
Affiliates of the fund owned 23% and 100% of shares of Class R6 and Class NAV, respectively, on August 31, 2026. Such concentration of shareholders’ capital could have a material effect on the fund if such shareholders redeem from the fund.
Note 6—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments, amounted to $973,641,184 and $752,440,034, respectively, for the year ended August 31, 2026.
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Note 7—Investment by affiliated funds
Certain investors in the fund are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the fund for the purpose of exercising management or control; however, this investment may represent a significant portion of the fund’s net assets. At August 31, 2026, funds within the John Hancock group of funds complex held 69.9% of the fund’s net assets. The following fund(s) had an affiliate ownership of 5% or more of the fund’s net assets:
Fund Affiliated Concentration
John Hancock Funds II Multimanager Lifestyle Growth Portfolio 18.1%
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio 14.0%
John Hancock Variable Insurance Trust Lifestyle Growth Portfolio 8.5%
John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio 8.2%
John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio 6.2%
Note 8—Segment reporting
The management committee of the Advisor acts as the fund’s chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation. The fund represents a single operating segment, as the CODM monitors and assesses the operating results of the fund as a whole, and the fund’s long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the fund’s subadvisor. Segment assets are reflected in the Statement of assets and liabilities as “Total assets”, which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statement of operations, which includes “Increase (decrease) in net assets from operations”, Statements of changes in net assets, which includes “Increase (decrease) in net assets from fund share transactions”, and Financial highlights, which includes total return and income and expense ratios.
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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of John Hancock Funds II and Shareholders of Global Equity Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the fund’s investments, of Global Equity Fund (one of the funds constituting John Hancock Funds II, referred to hereafter as the "Fund") as of August 31, 2026, the related statement of operations for the year ended August 31, 2026, the statement of changes in net assets for each of the two years in the period ended August 31, 2026, including the related notes, and the financial highlights for each of the five years in the period ended August 31, 2026 (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 as of August 31, 2026, 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 ended August 31, 2026 and the financial highlights for each of the five years in the period ended August 31, 2026 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’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 Fund 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 of these financial statements 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.
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 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. Our procedures included confirmation of securities owned as of August 31, 2026 by correspondence with the custodian and transfer agent. We believe that our audits provide a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
October 15, 2026
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
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Tax information
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended August 31, 2026.
The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
The fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
The fund paid $68,133,195 in long-term capital gain dividends.
The fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Eligible shareholders will be mailed a 2026 Form 1099-DIV in early 2027. This will reflect the tax character of all distributions paid in calendar year 2026.
Please consult a tax advisor regarding the tax consequences of your investment in the fund.
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EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES

This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Funds II (the Trust) of the Advisory Agreement (the Advisory Agreement) with John Hancock Investment Management LLC (the Advisor) and the Subadvisory Agreement (the Subadvisory Agreement) with Manulife Investment Management (US) LLC (the Subadvisor), for John Hancock Global Equity Fund (the fund). The Advisory Agreement and Subadvisory Agreement are collectively referred to as the Agreements. Prior to the June 22-25, 2026 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a meeting held on May 26-28, 2026. The Trustees who are not “interested persons” of the Trust as defined by the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.
Approval of Advisory and Subadvisory Agreements
At meetings held on June 22-25, 2026, the Board, including the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the 1940 Act, reapproved for an annual period the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to the fund.
In considering the Advisory Agreement and the Subadvisory Agreement, the Board received in advance of the meetings a variety of materials relating to the fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for a peer group of similar funds prepared by an independent third-party provider of fund data, performance information for an applicable benchmark index; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable, and other information provided by the Advisor and the Subadvisor regarding the nature, extent, and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the fund and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning fund performance, comparability of fees and total expenses, and profitability. However, the Board noted that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the fund, including quarterly performance reports prepared by management containing reviews of investment results and prior presentations from the Subadvisor with respect to the fund.  The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of non-advisory services, if any, to be provided to the fund by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review.  In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the fund.
Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.
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Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets, and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board’s conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board’s ongoing regular review of fund performance and operations throughout the year.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor’s compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the fund’s compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund’s compliance programs, risk management programs, liquidity risk management programs, derivatives risk management programs, and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the fund, including, but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the fund, including entrepreneurial risk in sponsoring new funds, and ongoing risks, including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management and the quality of the performance of the Advisor’s duties, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
(a) the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues;
(b) the background, qualifications and skills of the Advisor’s personnel;
(c) the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;
(d) the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund;
(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; and
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(f) the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.
The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the fund.
Investment performance. In considering the fund’s performance, the Board noted that it reviews at its regularly scheduled meetings information about the fund’s performance results. In connection with the consideration of the Advisory Agreement, the Board:
(a) reviewed information prepared by management regarding the fund’s performance;
(b) considered the comparative performance of an applicable benchmark index;
(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and
(d) took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally.
The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and the results of the performance comparisons may vary depending on the selection and size of the peer group. The Board noted that the fund underperformed its benchmark index for the one- and five-year periods ended December 31, 2025, and outperformed its benchmark index for the three- and ten-year periods ended December 31, 2025. The Board also noted that the fund underperformed its peer group median for the one- and five-year periods ended December 31, 2025, and outperformed its peer group median for the three- and ten-year periods ended December 31, 2025. The Board took into account management’s discussion of the fund’s performance, including the factors that contributed to the fund’s performance relative to the benchmark index for the one- and five-year periods and relative to the peer group for the one- and five-year periods. The Board concluded that the fund’s performance is being monitored and reasonably addressed, where appropriate.
Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of fund data, including, among other data, the fund’s contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the fund in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and the Subadvisor, respectively. The Board considered the fund’s ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the fund’s ranking within a broader group of funds. In comparing the fund’s contractual and net management fees to those of comparable funds, the Board noted that such fees include both advisory and administrative costs. The Board noted that net management fees and net total expenses for the fund are higher than the peer group median.
The Board took into account management’s discussion of the fund’s expenses. The Board also took into account management’s discussion with respect to the overall management fee and the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fee. In addition, the Board took into account that management had agreed to implement an overall fee waiver across the complex, including the fund, which is discussed further below. The Board also noted actions taken over the past several years to reduce the fund’s operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to the fund and that the fund has breakpoints in its contractual management fee schedule that reduces management fees as assets increase. The Board reviewed information provided by the Advisor concerning the investment advisory fee charged by the Advisor or one of its advisory affiliates to other clients (including other funds in the John Hancock
   | JOHN HANCOCK GLOBAL EQUITY FUND 28

Table of Contents
Fund Complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to the fund and the services they provide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to the fund is reasonable in light of the nature, extent, and quality of the services provided to the fund under the Advisory Agreement.
Profitability/Fall out benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates (including the Subadvisor) from the Advisor’s relationship with the Trust, the Board:
(a) reviewed financial information of the Advisor;
(b) reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund;
(c) received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund;
(d) received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies;
(e) considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board;
(f) considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement;
(g) noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund;
(h) noted that the fund’s Subadvisor is an affiliate of the Advisor;
(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund;
(j) noted that the subadvisory fee for the fund is paid by the Advisor;
(k) considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and
(l) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.
Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates (including the Subadvisor) from their relationship with the fund was not unreasonable in view of all factors considered.
Economies of scale. In considering the extent to which economies of scale would be realized as the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
(a) considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or
29 JOHN HANCOCK GLOBAL EQUITY FUND  |   

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  otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund;
(b) reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and
(c) also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale.
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
(1) information relating to the Subadvisor’s business, including current subadvisory services to the fund (and other funds in the John Hancock Fund Complex);
(2) the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; and
(3) the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data.
Nature, extent, and quality of services. With respect to the services provided by the Subadvisor, the Board received information provided to the Board by the Subadvisor, including the Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as received information relating to the Subadvisor’s compensation program. The Board reviewed the Subadvisor’s history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor’s investment and compliance personnel who provide services to the fund. The Board also considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of the Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor’s investment process and philosophy. The Board took into account that the Subadvisor’s responsibilities include the development and maintenance of an investment program for the fund that is consistent with the fund’s investment objective, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor’s brokerage policies and practices, including with respect to best execution and soft dollars.
   | JOHN HANCOCK GLOBAL EQUITY FUND 30

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Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor, the Board noted that the fees under the Subadvisory Agreement are paid by the Advisor and not the fund. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered the fund’s subadvisory fees as compared to similarly situated investment companies deemed to be comparable to the fund as included in the report prepared by the independent third party provider of fund data, to the extent available. The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the fund and compared them to fees charged by the Subadvisor to manage other subadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.
Subadvisor performance. As noted above, the Board considered the fund’s performance as compared to the fund’s peer group median and the benchmark index and noted that the Board reviews information about the fund’s performance results at its regularly scheduled meetings. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, as applicable.
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
(1) the Subadvisor has extensive experience and demonstrated skills as a manager;
(2) the performance of the fund is being monitored and reasonably addressed, where appropriate;
(3) the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and
(4) the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows.
***
Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement for an additional one-year period.
31 JOHN HANCOCK GLOBAL EQUITY FUND  |   

Table of Contents
Other N-CSR Items
(Unaudited)
Item 8.  Changes in and disagreements with accountants
None.
Item 9.  Proxy disclosures
When applicable, results of shareholder voting are included in the Shareholder meeting section of this report.
Item 10.  Remuneration paid to Trustees, officers, and others
Trustees’ fees are included in the financial statements.
Item 11.  Statement regarding basis for approval of investment advisory contract
When applicable, the statement regarding the basis for approval of any investment advisory contract is included in the Evaluation of advisory and subadvisory agreements by the Board of Trustees section of this report.
   | JOHN HANCOCK Global Equity Fund 32

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John Hancock Investment Management Distributors LLC, Member FINRA, SIPC
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Global Equity Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF5889487 425A 8/26
10/26


Annual Financial Statements & Other N-CSR Items
John Hancock
Multi-Asset Absolute Return Fund
Alternative
August 31, 2026

John Hancock
Multi-Asset Absolute Return Fund
Table of contents
2 Fund’s investments
11 Financial statements
15 Financial highlights
21 Notes to financial statements
32 Report of independent registered public accounting firm
33 Tax information
34 Evaluation of advisory and subadvisory agreements by the Board of Trustees
41 Other N-CSR Items
1 JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND |   

Table of Contents
Fund’s investments
AS OF 8-31-26
        Shares Value
Common stocks 61.2%         $150,806,074
(Cost $114,723,413)          
Belgium 0.4%         1,069,884
UCB SA   4,274 1,069,884
Brazil 0.3%         684,572
Ambev SA   35,500 102,974
Cia de Saneamento Basico do Estado de Sao Paulo   44,528 217,245
Cia de Saneamento Basico do Estado de Sao Paulo, ADR   10,020 48,697
Hypera SA   19,600 82,084
Lojas Renner SA   77,900 163,872
M Dias Branco SA   20,900 69,700
Canada 0.3%         712,242
Quebecor, Inc., Class B   9,500 420,798
Rogers Communications, Inc., Class B   7,900 291,444
China 1.6%         3,819,664
Alibaba Group Holding, Ltd., ADR   3,456 394,053
Baidu, Inc., ADR (A)   1,112 105,951
BYD Company, Ltd., H Shares   7,900 87,199
China Construction Bank Corp., H Shares   232,000 280,449
China Resources Sanjiu Medical & Pharmaceutical Company, Ltd., Class A   26,400 96,259
Contemporary Amperex Technology Company, Ltd., Class A   9,700 524,175
Fuyao Glass Industry Group Company, Ltd., H Shares (B)   14,000 97,896
Grandblue Environment Company, Ltd., Class A   84,298 381,711
Inner Mongolia Yili Industrial Group Company, Ltd., Class A   164,400 648,079
Midea Group Company, Ltd., Class A   7,200 94,022
NetEase, Inc., ADR   1,037 126,286
PICC Property & Casualty Company, Ltd., H Shares   46,000 99,633
Ping An Insurance Group Company of China, Ltd., H Shares   25,000 179,314
Shandong Weigao Group Medical Polymer Company, Ltd., H Shares   34,800 14,254
Sinopharm Group Company, Ltd., H Shares   27,200 53,596
Tencent Holdings, Ltd.   5,500 315,893
Tianhe Chemicals Group, Ltd. (A)(B)(C)   4,848,409 0
Uni-President China Holdings, Ltd.   24,000 22,721
Yum China Holdings, Inc.   6,684 298,173
Denmark 0.3%         711,067
Novo Nordisk A/S, Class B   15,701 711,067
France 3.0%         7,339,403
Capgemini SE   13,812 1,718,092
Sanofi SA   27,155 2,414,319
Veolia Environnement SA   14,937 564,640
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND 2

Table of Contents
        Shares Value
France (continued)          
Vinci SA   20,154 $2,642,352
Germany 1.2%         3,055,894
Deutsche Telekom AG   92,987 3,055,894
Greece 0.1%         178,595
JUMBO SA   5,926 178,595
Hong Kong 0.1%         294,124
China Metal Recycling Holdings, Ltd. (A)(C)   1,799,400 0
Geely Automobile Holdings, Ltd.   131,000 293,341
Want Want China Holdings, Ltd.   2,000 783
Hungary 0.0%         34,099
Richter Gedeon NYRT   818 34,099
India 0.0%         30,630
HDFC Bank, Ltd.   4,123 30,630
Indonesia 0.1%         215,861
Bank Central Asia Tbk PT   272,100 99,329
Kalbe Farma Tbk PT   155,000 6,859
Telkom Indonesia Persero Tbk PT   749,500 109,673
Ireland 0.6%         1,347,875
Medtronic PLC   14,869 1,347,875
Japan 4.4%         10,932,047
Advantest Corp.   12,400 2,595,163
Asics Corp.   74,400 2,086,394
Daifuku Company, Ltd.   10,100 364,126
FUJIFILM Holdings Corp.   16,800 354,411
Fujikura, Ltd.   47,000 1,602,486
KDDI Corp.   58,300 1,076,963
Murata Manufacturing Company, Ltd.   7,900 351,077
Nissan Chemical Corp.   5,300 271,568
NTT, Inc.   737,800 795,530
Ryohin Keikaku Company, Ltd.   39,900 1,081,326
Terumo Corp.   22,400 353,003
Mexico 0.4%         976,133
Arca Continental SAB de CV   12,400 142,258
Coca-Cola Femsa SAB de CV   16,845 187,286
Grupo Financiero Banorte SAB de CV, Series O   28,200 319,739
Kimberly-Clark de Mexico SAB de CV, Class A   139,300 326,850
Netherlands 1.5%         3,703,836
ASML Holding NV   1,286 2,181,095
Heineken NV   7,109 600,190
3 JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
        Shares Value
Netherlands (continued)          
Koninklijke Ahold Delhaize NV   18,874 $671,578
Prosus NV (A)   5,634 250,973
Norway 0.5%         1,215,701
Kongsberg Gruppen ASA   35,866 1,215,701
Philippines 0.0%         56,642
PLDT, Inc.   640 11,587
SM Investments Corp.   5,060 45,055
South Africa 0.2%         590,928
AVI, Ltd.   11,060 58,584
Naspers, Ltd., N Shares   4,786 234,385
Shoprite Holdings, Ltd.   7,709 147,323
Standard Bank Group, Ltd.   7,646 150,636
South Korea 1.6%         3,889,422
Cheil Worldwide, Inc.   7,158 100,339
Coway Company, Ltd.   4,655 329,348
DB Insurance Company, Ltd.   1,454 191,844
Hyundai Glovis Company, Ltd.   2,396 361,680
Hyundai Mobis Company, Ltd.   192 63,374
NAVER Corp.   525 82,985
NongShim Company, Ltd.   565 182,939
Samsung Electronics Company, Ltd.   10,108 1,908,217
Samsung Fire & Marine Insurance Company, Ltd.   641 310,267
Samsung SDS Company, Ltd.   218 38,076
Shinhan Financial Group Company, Ltd.   1,145 91,164
SK Hynix, Inc.   135 163,389
SK Telecom Company, Ltd.   961 65,800
Spain 0.3%         685,671
Iberdrola SA   29,451 685,671
Switzerland 1.2%         3,062,882
Chubb, Ltd.   2,406 814,672
Novartis AG   14,781 2,248,210
Taiwan 1.3%         3,080,206
Hon Hai Precision Industry Company, Ltd.   38,000 299,318
Quanta Computer, Inc.   14,000 149,428
Taiwan Semiconductor Manufacturing Company, Ltd.   20,000 1,503,036
Taiwan Semiconductor Manufacturing Company, Ltd., ADR   2,717 1,128,424
Thailand 0.1%         276,522
Advanced Info Service PCL   3,900 41,711
Bangkok Bank PCL   8,900 51,236
Thai Beverage PCL   223,400 81,672
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND 4

Table of Contents
        Shares Value
Thailand (continued)          
Thai Union Group PCL   268,500 $101,903
United Arab Emirates 0.0%         81,395
Emirates Telecommunications Group Company PJSC   14,032 81,395
United Kingdom 2.7%         6,765,040
Aon PLC, Class A   480 154,330
Diageo PLC   60,995 1,402,261
National Grid PLC   83,387 1,315,507
Reckitt Benckiser Group PLC   16,709 1,153,942
Smith & Nephew PLC   18,793 268,773
St. James’s Place PLC   56,699 894,383
Unilever PLC   11,227 729,690
Wise Group PLC, Class A (A)   64,841 846,154
United States 39.0%         95,995,739
Advanced Micro Devices, Inc. (A)   6,105 2,873,746
Akamai Technologies, Inc. (A)   4,028 437,521
Alphabet, Inc., Class A   7,915 2,685,955
Amazon.com, Inc. (A)   3,440 893,609
Amdocs, Ltd.   4,575 288,500
Amphenol Corp., Class A   13,490 2,138,840
Appfolio, Inc., Class A (A)   1,059 248,028
Arista Networks, Inc. (A)   15,800 3,091,902
Assurant, Inc.   6,157 1,735,412
Broadcom, Inc.   6,704 2,482,759
Cardinal Health, Inc.   1,552 364,130
Cboe Global Markets, Inc.   967 290,293
Church & Dwight Company, Inc.   17,178 1,714,021
Cisco Systems, Inc.   9,921 1,096,171
Colgate-Palmolive Company   22,040 1,979,633
Comfort Systems USA, Inc.   1,125 1,738,823
Crown Holdings, Inc.   21,423 2,493,423
CVS Health Corp.   15,263 1,433,348
EMCOR Group, Inc.   2,092 1,536,658
Essential Utilities, Inc.   9,056 372,836
Federal Signal Corp.   2,167 253,539
Fortinet, Inc. (A)   21,614 3,694,481
General Electric Company   3,037 1,019,551
Global Payments, Inc.   14,614 1,330,605
Globe Life, Inc.   3,747 646,994
Howmet Aerospace, Inc.   8,388 2,054,641
Intercontinental Exchange, Inc.   10,627 1,707,759
Intuitive Surgical, Inc. (A)   431 162,427
Johnson & Johnson   7,845 2,085,593
Keysight Technologies, Inc. (A)   3,904 1,259,821
5 JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
        Shares Value
United States (continued)          
Labcorp Holdings, Inc.   7,019 $2,334,941
Lam Research Corp.   7,864 2,370,917
Marsh & McLennan Companies, Inc.   5,784 1,097,803
McDonald’s Corp.   8,905 2,346,824
McKesson Corp.   2,105 1,863,599
Meta Platforms, Inc., Class A   3,165 1,811,456
Microsoft Corp.   12,978 6,583,610
Monolithic Power Systems, Inc.   322 408,222
Morningstar, Inc.   3,016 660,323
Neurocrine Biosciences, Inc. (A)   11,709 1,803,537
PepsiCo, Inc.   22,774 3,196,103
Pfizer, Inc.   9,651 274,667
Reinsurance Group of America, Inc.   5,533 1,361,339
Service Corp. International   11,592 946,371
Sysco Corp.   18,265 1,480,926
TD SYNNEX Corp.   2,710 685,224
Teradyne, Inc.   5,953 2,082,538
The Cigna Group   8,127 2,243,702
The Coca-Cola Company   60,465 5,361,432
The Kroger Company   33,435 1,923,850
The Procter & Gamble Company   13,151 1,908,473
The Travelers Companies, Inc.   1,489 544,870
Toast, Inc., Class A (A)   84,599 2,883,980
Universal Health Services, Inc., Class B   1,725 293,819
Verizon Communications, Inc.   15,127 756,653
Vertiv Holdings Company, Class A   6,135 1,587,247
Waters Corp. (A)   1,610 667,554
Xcel Energy, Inc.   6,514 493,045
Zoetis, Inc.   24,795 1,911,695
    
  Rate (%) Maturity date   Par value^ Value
U.S. Government and Agency obligations 31.1% $76,483,896
(Cost $78,412,570)          
U.S. Government 31.1%       76,483,896
U.S. Treasury          
Bond 4.500 02-15-36   13,677,900 13,530,430
Note 2.875 05-15-32   3,318,700 3,040,889
Note 3.375 05-15-33   5,110,200 4,750,091
Note 3.875 08-15-34   7,427,800 7,036,680
Note 4.000 02-15-34   6,873,400 6,596,316
Note 4.000 11-15-35   4,690,000 4,437,546
Note 4.125 02-15-36   9,476,900 9,040,074
Note 4.250 11-15-34   6,179,300 5,997,783
Note 4.375 05-15-34   1,321,000 1,297,263
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND 6

Table of Contents
  Rate (%) Maturity date   Par value^ Value
U.S. Government (continued)        
Note 4.375 05-15-36   7,850,100 $7,626,863
Note 4.500 11-15-33   9,651,600 9,575,820
Note 4.625 02-15-35   3,571,300 3,554,141
    
Total investments (Cost $193,135,983) 92.3%     $227,289,970
Other assets and liabilities, net 7.7%     19,016,685
Total net assets 100.0%         $246,306,655
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
ADR American Depositary Receipt
(A) Non-income producing security.
(B) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(C) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
The fund had the following portfolio composition as a percentage of net assets on 8-31-26:
Common stocks 61.2%
Information technology 17.3%
Consumer staples 10.0%
Health care 9.6%
Financials 6.7%
Industrials 6.3%
Communication services 4.8%
Consumer discretionary 4.0%
Utilities 1.4%
Materials 1.1%
U.S. Government 31.1%
Other assets and liabilities, net 7.7%
TOTAL 100.0%
7 JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
DERIVATIVES
FUTURES
Open contracts Number of
contracts
Position Expiration
date
Notional
basis^
Notional
value^
Unrealized
appreciation
(depreciation)
5-Year U.S. Treasury Note Futures 125 Long Jan 2027 $13,258,538 $13,212,891 $(45,647)
Amsterdam Exchange Index Futures 19 Long Sep 2026 4,910,973 4,885,992 (24,981)
Australian 10-Year Bond Futures 114 Long Sep 2026 8,832,066 8,742,921 (89,145)
Dow Jones Industrial Average E-Mini Index Futures 21 Long Sep 2026 5,607,679 5,590,200 (17,479)
Euro STOXX 50 Index Futures 34 Long Sep 2026 2,512,775 2,542,141 29,366
Euro-Bund Futures 424 Long Sep 2026 62,238,452 60,726,977 (1,511,475)
FTSE 100 Index Futures 23 Long Sep 2026 3,304,131 3,377,027 72,896
IBEX 35 Index Futures 17 Long Sep 2026 3,983,178 3,953,707 (29,471)
Long Gilt Futures 81 Long Dec 2026 9,472,104 9,454,262 (17,842)
Nasdaq 100 E-Mini Index Futures 4 Long Sep 2026 2,386,124 2,361,040 (25,084)
Nikkei 225 Mini Index Futures 97 Long Sep 2026 4,099,023 4,034,836 (64,187)
OMXS 30 Index Futures 39 Long Sep 2026 1,334,499 1,349,861 15,362
10-Year U.S. Treasury Note Futures 342 Short Dec 2026 (36,999,596) (36,818,438) 181,158
ASX SPI 200 Index Futures 35 Short Sep 2026 (5,580,956) (5,658,268) (77,312)
CAC40 Index Futures 29 Short Sep 2026 (2,912,790) (2,811,847) 100,943
DAX Index Futures 5 Short Sep 2026 (3,695,060) (3,822,364) (127,304)
FTSE/MIB Index Futures 8 Short Sep 2026 (2,493,858) (2,448,125) 45,733
Hang Seng China Enterprises Index Futures 124 Short Sep 2026 (6,673,654) (6,708,240) (34,586)
Hang Seng Index Futures 22 Short Sep 2026 (3,570,942) (3,571,918) (976)
Mini MSCI Emerging Markets Index Futures 53 Short Sep 2026 (4,693,649) (4,534,415) 159,234
Russell 2000 E-Mini Index Futures 29 Short Sep 2026 (4,361,574) (4,290,115) 71,459
S&P 500 E-Mini Index Futures 2 Short Sep 2026 (773,458) (769,900) 3,558
S&P MidCap 400 E-Mini Index Futures 10 Short Sep 2026 (3,788,421) (3,767,100) 21,321
S&P/TSX 60 Index Futures 1 Short Sep 2026 (309,353) (307,183) 2,170
Swiss Market Index Futures 10 Short Sep 2026 (1,776,761) (1,764,335) 12,426
            $(1,349,863)
^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.
FORWARD FOREIGN CURRENCY CONTRACTS
Contract to buy Contract to sell Counterparty (OTC) Contractual
settlement
date
Unrealized
appreciation
Unrealized
depreciation
AUD 39,351 USD 27,820 BNP 11/12/2026 $345 —
AUD 49,267 USD 35,336 BOA 11/12/2026 — $(73)
AUD 88,080 USD 62,225 GSI 11/12/2026 817 —
AUD 131,153 USD 93,786 JPM 11/12/2026 85 —
CAD 81,236 USD 58,909 BARC 11/12/2026 — (98)
CHF 63,221 USD 78,742 BARC 11/12/2026 101 —
CHF 49,369 USD 61,907 GSI 11/12/2026 — (339)
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND 8

Table of Contents
FORWARD FOREIGN CURRENCY CONTRACTS (continued)
Contract to buy Contract to sell Counterparty (OTC) Contractual
settlement
date
Unrealized
appreciation
Unrealized
depreciation
DKK 530,153 USD 82,433 BOA 11/12/2026 $243 —
DKK 96,561 USD 15,103 GSI 11/12/2026 — $(45)
EUR 317,740 USD 369,019 BARC 11/12/2026 1,083 —
EUR 356,618 USD 414,604 BOA 11/12/2026 781 —
EUR 8,122,438 USD 9,424,404 GSI 11/12/2026 36,568 —
EUR 1,405,792 USD 1,642,226 JPM 11/12/2026 — (4,767)
GBP 385,551 USD 523,255 BARC 11/12/2026 — (773)
GBP 103,806 USD 140,794 BNP 11/12/2026 — (121)
HKD 623,300 USD 79,697 BARC 11/12/2026 2 —
HKD 912,716 USD 116,681 BOA 11/12/2026 24 —
HKD 5,968,219 USD 763,145 GSI 11/12/2026 — (18)
JPY 26,205,200 USD 165,609 BARC 11/12/2026 — (642)
JPY 50,615,340 USD 320,239 BNP 11/12/2026 — (1,605)
JPY 65,179,525 USD 410,826 GSI 11/12/2026 — (508)
JPY 10,087,380 USD 63,907 JPM 11/12/2026 — (405)
JPY 22,753,422 USD 143,793 BARC 11/13/2026 — (544)
JPY 32,249,166 USD 203,919 BNP 11/13/2026 — (888)
JPY 5,333,119 USD 33,762 JPM 11/13/2026 — (186)
NOK 1,697,282 USD 180,951 BARC 11/12/2026 516 —
SEK 1,496,435 USD 155,498 BARC 10/5/2026 1,033 —
SEK 965,085 USD 100,829 BOA 10/5/2026 123 —
SEK 187,692 USD 19,754 GSI 10/5/2026 — (120)
SEK 1,955,465 USD 206,827 JPM 10/5/2026 — (2,278)
USD 147,273 AUD 206,603 BARC 11/12/2026 — (601)
USD 36,165 AUD 51,310 BOA 11/12/2026 — (560)
USD 539,833 AUD 765,119 GSI 11/12/2026 — (7,793)
USD 50,619 AUD 71,156 JPM 11/12/2026 — (310)
USD 805,509 CAD 1,117,694 BARC 11/12/2026 — (3,642)
USD 2,346,052 CHF 1,876,969 BARC 11/12/2026 5,267 —
USD 51,544 CHF 41,091 BNP 11/12/2026 299 —
USD 61,745 CHF 49,031 BOA 11/12/2026 598 —
USD 17,715 DKK 113,047 BOA 11/12/2026 85 —
USD 785,412 DKK 5,054,507 GSI 11/12/2026 — (2,824)
USD 17,388 DKK 110,692 JPM 11/12/2026 126 —
USD 78,452 EUR 67,574 BARC 11/12/2026 — (257)
USD 392,622 EUR 336,812 BOA 11/12/2026 305 —
USD 34,674,077 EUR 29,884,230 GSI 11/12/2026 — (134,916)
USD 841,054 EUR 719,864 JPM 11/12/2026 2,561 —
USD 7,007,562 GBP 5,187,336 BARC 11/12/2026 — (22,085)
USD 21,374 GBP 15,766 BOA 11/12/2026 9 —
USD 449,908 HKD 3,518,387 BNP 11/12/2026 30 —
USD 4,253 HKD 33,263 BOA 11/12/2026 —— ——
9 JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
FORWARD FOREIGN CURRENCY CONTRACTS (continued)
Contract to buy Contract to sell Counterparty (OTC) Contractual
settlement
date
Unrealized
appreciation
Unrealized
depreciation
USD 1,340,578 HKD 10,485,467 GSI 11/12/2026 — $(147)
USD 93,221 HKD 729,368 JPM 11/12/2026 — (39)
USD 416,509 JPY 66,105,248 BNP 11/12/2026 $362 —
USD 10,830,479 JPY 1,703,492,771 GSI 11/12/2026 106,656 —
USD 852,529 JPY 134,693,195 JPM 11/12/2026 4,608 —
USD 29,124 JPY 4,622,840 BNP 11/13/2026 20 —
USD 461,055 JPY 72,726,652 GSI 11/13/2026 3,191 —
USD 195,688 JPY 30,929,429 JPM 11/13/2026 966 —
USD 105,661 NOK 997,163 BARC 11/12/2026 — (952)
USD 30,767 NOK 286,928 BOA 11/12/2026 90 —
USD 1,251,539 NOK 11,911,481 GSI 11/12/2026 — (21,996)
USD 30,108 SEK 287,940 BARC 10/5/2026 — (11)
USD 44,340 SEK 423,788 BNP 10/5/2026 10 —
USD 8,935 SEK 85,992 BOA 10/5/2026 — (60)
USD 205,650 SEK 1,967,787 GSI 10/5/2026 — (188)
USD 305,886 SEK 2,926,958 JPM 10/5/2026 — (285)
            $166,904 $(210,076)
    
Derivatives Currency Abbreviations
AUD Australian Dollar
CAD Canadian Dollar
CHF Swiss Franc
DKK Danish Krone
EUR Euro
GBP Pound Sterling
HKD Hong Kong Dollar
JPY Japanese Yen
NOK Norwegian Krone
SEK Swedish Krona
USD U.S. Dollar
    
Derivatives Abbreviations
BARC Barclays Bank PLC
BNP BNP Paribas
BOA Bank of America, N.A.
GSI Goldman Sachs International
JPM JPMorgan Chase Bank, N.A.
OTC Over-the-counter
At 8-31-26, the aggregate cost of investments for federal income tax purposes was $195,952,299. Net unrealized appreciation aggregated to $29,944,636, of which $38,793,387 related to gross unrealized appreciation and $8,848,751 related to gross unrealized depreciation.
See Notes to financial statements regarding investment transactions and other derivatives information.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND 10

Table of Contents
Financial statements
STATEMENT OF ASSETS AND LIABILITIES 8-31-26

Assets  
Unaffiliated investments, at value (Cost $193,135,983) $227,289,970
Unrealized appreciation on forward foreign currency contracts 166,904
Cash 9,054,799
Foreign currency, at value (Cost $529,418) 527,166
Collateral held at broker for futures contracts 5,070,498
Dividends and interest receivable 907,739
Receivable for fund shares sold 980,781
Receivable for investments sold 3,631,993
Other assets 42,747
Total assets 247,672,597
Liabilities  
Unrealized depreciation on forward foreign currency contracts 210,076
Payable for futures variation margin 14,383
Payable for investments purchased 893,184
Payable for fund shares repurchased 56,531
Payable to affiliates  
Accounting and legal services fees 11,624
Transfer agent fees 8,217
Distribution and service fees 114
Trustees’ fees 106
Other liabilities and accrued expenses 171,707
Total liabilities 1,365,942
Net assets $246,306,655
Net assets consist of  
Paid-in capital $720,560,182
Total distributable earnings (loss) (474,253,527)
Net assets $246,306,655
11 JOHN HANCOCK Multi-Asset Absolute Return Fund |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
STATEMENT OF ASSETS AND LIABILITIES  (continued)

 
Net asset value per share  
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value  
Class A ($21,698,904 ÷ 2,022,174 shares)1 $10.73
Class C ($868,030 ÷ 85,213 shares)1 $10.19
Class I ($62,858,084 ÷ 5,716,792 shares) $11.00
Class R2 ($572,880 ÷ 53,712 shares) $10.67
Class R6 ($24,438,095 ÷ 2,209,542 shares) $11.06
Class NAV ($135,870,662 ÷ 12,273,233 shares) $11.07
Maximum offering price per share  
Class A (net asset value per share ÷ 95%)2 $11.29
    
1 Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
2 On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Multi-Asset Absolute Return Fund 12

Table of Contents
STATEMENT OF OPERATIONS For the year ended 8-31-26

Investment income  
Dividends $3,586,665
Tax reclaims 3,837,200
Interest 2,722,832
Less foreign taxes withheld (116,304)
Total investment income 10,030,393
Expenses  
Investment management fees 2,749,099
Distribution and service fees 85,032
Accounting and legal services fees 46,511
Transfer agent fees 103,316
Trustees’ fees 5,095
Custodian fees 93,806
State registration fees 105,017
Printing and postage 28,692
Professional fees 499,589
Other 19,197
Total expenses 3,735,354
Less expense reductions (24,700)
Net expenses 3,710,654
Net investment income 6,319,739
Realized and unrealized gain (loss)  
Net realized gain (loss) on  
Unaffiliated investments and foreign currency transactions 37,649,754
Futures contracts (12,858,731)
Forward foreign currency contracts 334,580
  25,125,603
Change in net unrealized appreciation (depreciation) of  
Unaffiliated investments and translation of assets and liabilities in foreign currencies (23,532,445)
Futures contracts 1,493,032
Forward foreign currency contracts 302,745
  (21,736,668)
Net realized and unrealized gain 3,388,935
Increase in net assets from operations $9,708,674
13 JOHN HANCOCK Multi-Asset Absolute Return Fund |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  

  Year ended
8-31-26
Period ended
8-31-251
Year ended
7-31-25
Increase (decrease) in net assets      
From operations      
Net investment income $6,319,739 $77,425 $1,698,233
Net realized gain 25,125,603 3,251,863 35,613,591
Change in net unrealized appreciation (depreciation) (21,736,668) 1,428,431 (26,511,281)
Increase in net assets resulting from operations 9,708,674 4,757,719 10,800,543
From earnings      
Class A — — (540,260)
Class C — — (15,623)
Class I — — (2,494,405)
Class R2 — — (14,843)
Class R6 — — (588,013)
Class NAV — — (1,889,313)
Total distributions — — (5,542,457)
From fund share transactions (2,847,002) (1,255,303) (102,169,928)
Total increase (decrease) 6,861,672 3,502,416 (96,911,842)
Net assets      
Beginning of year 239,444,983 235,942,567 332,854,409
End of year $246,306,655 $239,444,983 $235,942,567
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Multi-Asset Absolute Return Fund 14

Table of Contents
Financial highlights
CLASS A SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $10.36 $10.16 $10.05 $9.75 $9.93 $10.12
Net investment income2 0.243 —4 0.03 0.05 0.05 0.06
Net realized and unrealized gain (loss) on investments 0.13 0.20 0.24 0.25 0.07 (0.25)
Total from investment operations 0.37 0.20 0.27 0.30 0.12 (0.19)
Less distributions            
From net investment income — — (0.16) — (0.30) —
Net asset value, end of period $10.73 $10.36 $10.16 $10.05 $9.75 $9.93
Total return (%)5,6 3.57 1.977 2.57 3.18 1.34 (1.88)
Ratios and supplemental data            
Net assets, end of period (in millions) $22 $25 $25 $37 $41 $44
Ratios (as a percentage of average net assets):            
Expenses before reductions 1.75 1.698 1.62 1.62 1.55 1.57
Expenses including reductions 1.74 1.659 1.61 1.61 1.54 1.56
Net investment income 2.283 0.069 0.28 0.47 0.49 0.65
Portfolio turnover (%) 144 8 66 47 59 59
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect non-recurring income received by the fund which amounted to $0.16 and 1.45%, respectively.
4 Less than $0.005 per share.
5 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
6 Does not reflect the effect of sales charges, if any.
7 Not annualized.
8 Annualized. Certain expenses are presented unannualized.
9 Annualized.
15 JOHN HANCOCK Multi-Asset Absolute Return Fund |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
CLASS C SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $9.90 $9.72 $9.57 $9.38 $9.57 $9.82
Net investment income (loss)2 0.183 (0.01) (0.04) (0.03) (0.03) (0.01)
Net realized and unrealized gain (loss) on investments 0.11 0.19 0.28 0.22 0.07 (0.24)
Total from investment operations 0.29 0.18 0.24 0.19 0.04 (0.25)
Less distributions            
From net investment income — — (0.09) — (0.23) —
Net asset value, end of period $10.19 $9.90 $9.72 $9.57 $9.38 $9.57
Total return (%)4,5 2.93 1.856 2.47 2.45 0.63 (2.54)
Ratios and supplemental data            
Net assets, end of period (in millions) $1 $1 $1 $2 $6 $12
Ratios (as a percentage of average net assets):            
Expenses before reductions 2.45 2.397 2.32 2.32 2.25 2.27
Expenses including reductions 2.44 2.358 2.31 2.31 2.24 2.26
Net investment income (loss) 1.803 (0.64)8 (0.39) (0.29) (0.29) (0.12)
Portfolio turnover (%) 144 8 66 47 59 59
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect non-recurring income received by the fund which amounted to $0.16 and 1.45%, respectively.
4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5 Does not reflect the effect of sales charges, if any.
6 Not annualized.
7 Annualized. Certain expenses are presented unannualized.
8 Annualized.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Multi-Asset Absolute Return Fund 16

Table of Contents
CLASS I SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $10.58 $10.37 $10.27 $9.92 $10.10 $10.27
Net investment income2 0.283 —4 0.06 0.08 0.08 0.10
Net realized and unrealized gain (loss) on investments 0.14 0.21 0.23 0.27 0.07 (0.27)
Total from investment operations 0.42 0.21 0.29 0.35 0.15 (0.17)
Less distributions            
From net investment income — — (0.19) — (0.33) —
Net asset value, end of period $11.00 $10.58 $10.37 $10.27 $9.92 $10.10
Total return (%)5 3.88 2.036 2.82 3.42 1.73 (1.66)
Ratios and supplemental data            
Net assets, end of period (in millions) $63 $74 $73 $159 $201 $215
Ratios (as a percentage of average net assets):            
Expenses before reductions 1.45 1.397 1.32 1.32 1.25 1.27
Expenses including reductions 1.44 1.358 1.31 1.31 1.24 1.26
Net investment income 2.593 0.368 0.54 0.76 0.79 0.94
Portfolio turnover (%) 144 8 66 47 59 59
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect non-recurring income received by the fund which amounted to $0.16 and 1.45%, respectively.
4 Less than $0.005 per share.
5 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
6 Not annualized.
7 Annualized. Certain expenses are presented unannualized.
8 Annualized.
17 JOHN HANCOCK Multi-Asset Absolute Return Fund |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
CLASS R2 SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $10.30 $10.10 $10.00 $9.69 $9.87 $10.07
Net investment income2 0.263 —4 0.03 0.04 0.05 0.06
Net realized and unrealized gain (loss) on investments 0.11 0.20 0.22 0.27 0.07 (0.26)
Total from investment operations 0.37 0.20 0.25 0.31 0.12 (0.20)
Less distributions            
From net investment income — — (0.15) — (0.30) —
Net asset value, end of period $10.67 $10.30 $10.10 $10.00 $9.69 $9.87
Total return (%)5 3.59 1.986 2.55 3.20 1.34 (1.99)
Ratios and supplemental data            
Net assets, end of period (in millions) $1 $1 $1 $1 $1 $1
Ratios (as a percentage of average net assets):            
Expenses before reductions 1.75 1.757 1.65 1.63 1.55 1.60
Expenses including reductions 1.74 1.718 1.64 1.63 1.54 1.59
Net investment income (loss) 2.503 (0.01)8 0.30 0.45 0.47 0.58
Portfolio turnover (%) 144 8 66 47 59 59
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect non-recurring income received by the fund which amounted to $0.16 and 1.45%, respectively.
4 Less than $0.005 per share.
5 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
6 Not annualized.
7 Annualized. Certain expenses are presented unannualized.
8 Annualized.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Multi-Asset Absolute Return Fund 18

Table of Contents
CLASS R6 SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $10.64 $10.43 $10.34 $9.98 $10.15 $10.31
Net investment income2 0.283 —4 0.08 0.09 0.08 0.12
Net realized and unrealized gain (loss) on investments 0.14 0.21 0.21 0.27 0.09 (0.28)
Total from investment operations 0.42 0.21 0.29 0.36 0.17 (0.16)
Less distributions            
From net investment income — — (0.20) — (0.34) —
Net asset value, end of period $11.06 $10.64 $10.43 $10.34 $9.98 $10.15
Total return (%)5 3.95 2.016 3.02 3.51 1.74 (1.55)
Ratios and supplemental data            
Net assets, end of period (in millions) $24 $27 $26 $31 $134 $227
Ratios (as a percentage of average net assets):            
Expenses before reductions 1.34 1.287 1.21 1.21 1.14 1.16
Expenses including reductions 1.33 1.248 1.21 1.20 1.13 1.15
Net investment income 2.573 0.468 0.72 0.85 0.81 1.15
Portfolio turnover (%) 144 8 66 47 59 59
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect non-recurring income received by the fund which amounted to $0.16 and 1.45%, respectively.
4 Less than $0.005 per share.
5 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
6 Not annualized.
7 Annualized. Certain expenses are presented unannualized.
8 Annualized.
19 JOHN HANCOCK Multi-Asset Absolute Return Fund |  SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents
CLASS NAV SHARES Period ended 8-31-26 8-31-251 7-31-25 7-31-24 7-31-23 7-31-22
Per share operating performance            
Net asset value, beginning of period $10.65 $10.43 $10.33 $9.97 $10.15 $10.31
Net investment income2 0.253 —4 0.08 0.09 0.09 0.11
Net realized and unrealized gain (loss) on investments 0.17 0.22 0.22 0.27 0.07 (0.27)
Total from investment operations 0.42 0.22 0.30 0.36 0.16 (0.16)
Less distributions            
From net investment income — — (0.20) — (0.34) —
Net asset value, end of period $11.07 $10.65 $10.43 $10.33 $9.97 $10.15
Total return (%)5 3.94 2.116 2.93 3.61 1.74 (1.46)
Ratios and supplemental data            
Net assets, end of period (in millions) $136 $112 $109 $103 $100 $82
Ratios (as a percentage of average net assets):            
Expenses before reductions 1.34 1.287 1.21 1.20 1.13 1.15
Expenses including reductions 1.33 1.248 1.20 1.20 1.12 1.14
Net investment income 2.283 0.468 0.74 0.89 0.93 1.13
Portfolio turnover (%) 144 8 66 47 59 59
    
1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
2 Based on average daily shares outstanding.
3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect non-recurring income received by the fund which amounted to $0.16 and 1.45%, respectively.
4 Less than $0.005 per share.
5 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
6 Not annualized.
7 Annualized. Certain expenses are presented unannualized.
8 Annualized.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK Multi-Asset Absolute Return Fund 20

Table of Contents
Notes to financial statements
Note 1—Organization
John Hancock Multi-Asset Absolute Return Fund (the fund) is a series of John Hancock Funds II (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek long-term total return.
The fund may offer multiple classes of shares. The shares currently outstanding are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class I shares are offered to institutions and certain investors. Class R2 shares are available only to certain retirement and 529 plans. Class R6 shares are only available to certain retirement plans, institutions and other investors. Class NAV shares are offered to John Hancock affiliated funds of funds, retirement plans for employees of John Hancock and/or Manulife Financial Corporation, and certain 529 plans. Class C shares convert to Class A shares eight years after purchase (certain exclusions may apply). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ.
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC, the fund’s valuation designee.
In order to value the securities, the fund uses the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Futures contracts are typically valued based on the settlement price. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.
In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a
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ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.
The fund uses a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
The following is a summary of the values by input classification of the fund’s investments as of August 31, 2026, by major security category or type:
  Total
value at
8-31-26
Level 1
quoted
price
Level 2
significant
observable
inputs
Level 3
significant
unobservable
inputs
Investments in securities:        
Assets        
Common stocks        
Belgium $1,069,884 — $1,069,884 —
Brazil 684,572 $684,572 — —
Canada 712,242 712,242 — —
China 3,819,664 924,463 2,895,201 —
Denmark 711,067 — 711,067 —
France 7,339,403 — 7,339,403 —
Germany 3,055,894 — 3,055,894 —
Greece 178,595 — 178,595 —
Hong Kong 294,124 — 294,124 —
Hungary 34,099 — 34,099 —
India 30,630 — 30,630 —
Indonesia 215,861 — 215,861 —
Ireland 1,347,875 1,347,875 — —
Japan 10,932,047 — 10,932,047 —
Mexico 976,133 976,133 — —
Netherlands 3,703,836 — 3,703,836 —
Norway 1,215,701 — 1,215,701 —
Philippines 56,642 — 56,642 —
South Africa 590,928 — 590,928 —
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  Total
value at
8-31-26
Level 1
quoted
price
Level 2
significant
observable
inputs
Level 3
significant
unobservable
inputs
South Korea $3,889,422 — $3,889,422 —
Spain 685,671 — 685,671 —
Switzerland 3,062,882 $814,672 2,248,210 —
Taiwan 3,080,206 1,128,424 1,951,782 —
Thailand 276,522 — 276,522 —
United Arab Emirates 81,395 — 81,395 —
United Kingdom 6,765,040 154,330 6,610,710 —
United States 95,995,739 95,995,739 — —
U.S. Government and Agency obligations 76,483,896 — 76,483,896 —
Total investments in securities $227,289,970 $102,738,450 $124,551,520 —
Derivatives:        
Assets        
Futures $715,626 $715,626 — —
Forward foreign currency contracts 166,904 — $166,904 —
Liabilities        
Futures (2,065,489) (2,065,489) — —
Forward foreign currency contracts (210,076) — (210,076) —
Level 3 includes securities valued at $0. Refer to Fund’s investments.
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
Foreign taxes. The fund may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued
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based on gains realized by the fund as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Reclaim receivables are accrued based on a number of factors, including a jurisdiction’s legal obligation to pay reclaims as well as payment history and market convention. Withholding tax reclaims may be required to be filed in certain countries to recover a portion of amounts previously withheld, and tax reclaim income is accrued when the fund becomes aware that the reclaim will be paid.  Income accrued, if any, for such tax reclaims is reflected as Tax reclaims in the Statement of operations and any related receivable is reflected as Tax reclaims receivable in the Statement of assets and liabilities. Any fees associated with these filings are reflected in Professional fees in the Statement of operations.
Overdraft. The fund may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund’s custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
Line of credit. The fund and other affiliated funds have entered into a syndicated line of credit agreement with The Bank of New York Mellon as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 12, 2027 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. Prior to July 13, 2026, a similar syndicated line of credit agreement was held with Citibank N.A. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on an asset-based allocation and is reflected in Other expenses on the Statement of operations. For the year ended August 31, 2026, the fund had no borrowings under the line of credit. Commitment fees for the year ended August 31, 2026 were $1,178.
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.
Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as of August 31, 2026, the fund has a short-term capital loss carryforward of $510,954,953 available to offset future net realized capital gains. This carryforward does not expire.
As of August 31, 2026, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund’s federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
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Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares and pays dividends annually. Capital gain distributions, if any, are typically distributed annually.
The tax character of distributions for the year ended August 31, 2026, period ended August 31, 2025 and the year ended July 31, 2025 was as follows:
  August 31, 2026 August 31, 2025 July 31, 2025
Ordinary income — — $5,542,457
Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of August 31, 2026, the components of distributable earnings on a tax basis consisted of $6,724,519 of undistributed ordinary income.
Such distributions and distributable earnings, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund’s financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to net operating losses, foreign currency transactions, wash sale loss deferrals, derivative transactions and investments in passive foreign investment companies.
Note 3—Derivative instruments
The fund may invest in derivatives in order to meet its investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the fund is exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.
Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The fund attempts to reduce its exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of its OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.
As defined by the ISDA, the fund may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the fund, if any, is held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the fund and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the fund, if any, for OTC transactions is held in a
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segregated account at the fund’s custodian and is noted in the accompanying Fund’s investments, or if cash is posted, on the Statement of assets and liabilities. The fund’s risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.
Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the fund and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.
Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statement of assets and liabilities. Use of long futures contracts subjects the fund to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the fund to unlimited risk of loss.
Upon entering into a futures contract, the fund is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the fund, if any, is detailed in the Statement of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the fund, if any, are identified in the Fund’s investments. Subsequent payments, referred to as variation margin, are made or received by the fund periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the fund. Payable for futures variation margin is included on the Statement of assets and liabilities. When the contract is closed, the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
During the year ended August 31, 2026, the fund used futures contracts to manage against changes in certain securities markets and interest rates, gain exposure to certain securities markets and manage duration of the fund. The fund held futures contracts with USD notional values ranging from $146.4 million to $197.5 million, as measured at each quarter end.  
Forward foreign currency contracts. A forward foreign currency contract is an agreement between two parties to buy and sell specific currencies at a price that is set on the date of the contract. The forward contract calls for delivery of the currencies on a future date that is specified in the contract. Forwards are typically traded OTC. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral if applicable, and the risk that currency movements will not favor the fund thereby reducing the fund’s total return, and the potential for losses in excess of the amounts recognized on the Statement of assets and liabilities.
The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the fund as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.
During the year ended August 31, 2026, the fund used forward foreign currency contracts to manage against changes in foreign currency exchange rates and gain exposure to foreign currencies. The fund held forward foreign currency contracts with USD notional values ranging from $78.3 million to $137.4 million, as measured at each quarter end.
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Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the fund at August 31, 2026 by risk category:
Risk Statement of assets
and liabilities
location
Financial
instruments
location
Assets
derivatives
fair value
Liabilities
derivatives
fair value
Interest rate Receivable/payable for futures variation margin1 Futures $181,158 $(1,664,109)
Equity Receivable/payable for futures variation margin1 Futures 534,468 (401,380)
Currency Unrealized appreciation (depreciation) on forward foreign currency contracts Forward foreign currency contracts 166,904 (210,076)
      $882,530 $(2,275,565)
    
1 Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Fund’s investments. Only the year end variation margin receivable/payable is separately reported on the Statement of assets and liabilities.
For financial reporting purposes, the fund does not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statement of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the fund and the applicable counterparty. 
Effect of derivative instruments on the Statement of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2026:
  Statement of operations location - Net realized gain (loss) on:
Risk Futures contracts Forward foreign
currency contracts
Total
Interest rate $(742,845) — $(742,845)
Currency — $334,580 334,580
Equity (12,115,886) — (12,115,886)
Total $(12,858,731) $334,580 $(12,524,151)
The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2026:
  Statement of operations location - Change in net unrealized appreciation (depreciation) of:
Risk Futures contracts Forward foreign
currency contracts
Total
Interest rate $(1,830,658) — $(1,830,658)
Currency — $302,745 302,745
Equity 3,323,690 — 3,323,690
Total $1,493,032 $302,745 $1,795,777
Note 4—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.
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Note 5—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the fund. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.
Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor equivalent on an annual basis to the sum of: (a) 1.050% of the first $200 million of the fund’s average daily net assets; and (b) 1.000% of the next $300 million of the fund’s average daily net assets provided that net assets are less than or equal to $500 million. If net assets exceed $500 million, the following rates apply: (a) 0.950% of the first $2.0 billion of the fund’s average daily net assets; (b) 0.920% of the next $2.0 billion of the fund’s average daily net assets; and (c) 0.900% of the fund’s average daily net assets in excess of $4.0 billion. The Advisor has a subadvisory agreement with Nordea Investment Management North America, Inc. The fund is not responsible for payment of the subadvisory fees.
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the year ended August 31, 2026, this waiver amounted to 0.01% of the fund’s average daily net assets. This agreement expires on July 31, 2027, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
For the year ended August 31, 2026, the expense reductions described above amounted to the following:
Class Expense reduction
Class A $2,186
Class C 109
Class I 6,369
Class R2 65
Class Expense reduction
Class R6 $2,535
Class NAV 13,436
Total $24,700
 
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended August 31, 2026, were equivalent to a net annual effective rate of 1.03% of the fund’s average daily net assets.
Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended August 31, 2026, amounted to an annual rate of 0.02% of the fund’s average daily net assets.
Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. In addition, under a service plan for certain classes as detailed below, the fund pays for certain other services. The fund may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund’s shares:
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Class Rule 12b-1 Fee Service fee
Class A 0.30% —
Class C 1.00% —
Class R2 0.25% 0.25%
Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $2,107 for the year ended August 31, 2026. Of this amount, $335 was retained and used for printing prospectuses, advertising, sales literature and other purposes and $1,772 was paid as sales commissions to broker-dealers.
Class A and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares purchased, including those that are acquired through purchases of $1 million or more, and redeemed within one year of purchase are subject to a 1.00% CDSC. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended August 31, 2026, CDSCs received by the Distributor amounted to $297 for Class A shares. There were no CDSCs received by the Distributor for Class C shares.
Transfer agent fees. The John Hancock group of funds has a complex-wide transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to three categories of share classes: Retail Share Classes of Non-Municipal Bond Funds, Retirement Share Classes and Retail Share Classes of Municipal Bond Funds. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.
Class level expenses. Class level expenses for the year ended August 31, 2026 were as follows:
Class Distribution and service fees Transfer agent fees
Class A $70,437 $25,717
Class C 11,735 1,285
Class I — 74,932
Class R2 2,860 35
Class R6 — 1,347
Total $85,032 $103,316
Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to the fund based on its net assets relative to other funds within the John Hancock group of funds complex.
Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the fund, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the fund to borrow from, or lend money to, other participating
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affiliated funds. At period end, no interfund loans were outstanding. Interest expense is included in Other expenses on the Statement of operations. The fund’s activity in this program during the period for which loans were outstanding was as follows:
Borrower
or Lender
Weighted Average
Loan Balance
Days
Outstanding
Weighted Average
Interest Rate
Interest Income
(Expense)
 
Borrower $3,500,000 1 4.130% $(402) —
Note 6—Fund share transactions
Transactions in fund shares for the year ended August 31, 2026, period ended August 31, 2025 and the year ended July 31, 2025 were as follows:
  Year Ended 8-31-26 Period Ended 8-31-251 Year Ended 7-31-25
  Shares Amount Shares Amount Shares Amount
Class A shares            
Sold 116,821 $1,231,125 608 $6,291 145,224 $1,493,245
Distributions reinvested — — — — 51,845 524,674
Repurchased (508,349) (5,364,623) (37,079) (381,127) (1,392,073) (14,375,138)
Net decrease (391,528) $(4,133,498) (36,471) $(374,836) (1,195,004) $(12,357,219)
Class C shares            
Sold 3,542 $35,395 126 $1,235 14,830 $146,734
Distributions reinvested — — — — 1,559 15,156
Repurchased (65,272) (659,473) (1,462) (14,442) (63,746) (623,726)
Net decrease (61,730) $(624,078) (1,336) $(13,207) (47,357) $(461,836)
Class I shares            
Sold 501,182 $5,435,905 29,734 $312,829 627,637 $6,578,748
Distributions reinvested — — — — 231,446 2,388,521
Repurchased (1,744,237) (18,811,584) (143,600) (1,511,691) (9,263,388) (97,569,117)
Net decrease (1,243,055) $(13,375,679) (113,866) $(1,198,862) (8,404,305) $(88,601,848)
Class R2 shares            
Sold 4,593 $48,374 5,969 $61,289 21,009 $219,584
Distributions reinvested — — — — 1,349 13,564
Repurchased (41,624) (436,411) (3,322) (33,853) (18,563) (189,248)
Net increase (decrease) (37,031) $(388,037) 2,647 $27,436 3,795 $43,900
Class R6 shares            
Sold 536,504 $5,825,617 28,129 $297,560 253,654 $2,669,774
Distributions reinvested — — — — 29,423 304,825
Repurchased (837,301) (9,109,495) (12,478) (132,777) (820,800) (8,610,658)
Net increase (decrease) (300,797) $(3,283,878) 15,651 $164,783 (537,723) $(5,636,059)
Class NAV shares            
Sold 6,707,391 $72,664,800 13,275 $139,383 3,031,709 $31,799,475
Distributions reinvested — — — — 182,190 1,889,313
Repurchased (4,925,924) (53,706,632) — — (2,724,985) (28,845,654)
Net increase 1,781,467 $18,958,168 13,275 $139,383 488,914 $4,843,134
Total net decrease (252,674) $(2,847,002) (120,100) $(1,255,303) (9,691,680) $(102,169,928)
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1 For the one-month period ended 8-31-25. The fund changed its fiscal year end from July 31 to August 31.
Affiliates of the fund owned 100% of shares of Class NAV on August 31, 2026. Such concentration of shareholders’ capital could have a material effect on the fund if such shareholders redeem from the fund.
Note 7—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments and U.S. Treasury obligations, amounted to $215,771,154 and $295,409,793, respectively, for the year ended August 31, 2026. Purchases and sales of U.S. Treasury obligations aggregated $141,280,296 and $75,236,169, respectively, for the year ended August 31, 2026.
Note 8—Investment by affiliated funds
Certain investors in the fund are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the fund for the purpose of exercising management or control; however, this investment may represent a significant portion of the fund’s net assets. At August 31, 2026, funds within the John Hancock group of funds complex held 55.2% of the fund’s net assets. The following fund(s) had an affiliate ownership of 5% or more of the fund’s net assets:
Fund Affiliated Concentration
John Hancock Funds II Alternative Asset Allocation Fund 55.2%
Note 9—Segment reporting
The management committee of the Advisor acts as the fund’s chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation. The fund represents a single operating segment, as the CODM monitors and assesses the operating results of the fund as a whole, and the fund’s long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the fund’s subadvisor. Segment assets are reflected in the Statement of assets and liabilities as “Total assets”, which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statement of operations, which includes “Increase (decrease) in net assets from operations”, Statements of changes in net assets, which includes “Increase (decrease) in net assets from fund share transactions”, and Financial highlights, which includes total return and income and expense ratios.
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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of John Hancock Funds II and Shareholders of Multi-Asset Absolute Return Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the fund’s investments, of Multi-Asset Absolute Return Fund (one of the funds constituting John Hancock Funds II, referred to hereafter as the "Fund") as of August 31, 2026, the related statement of operations for the year ended August 31, 2026, the statement of changes in net assets for the year ended August 31, 2026, for the one month in the period ended August 31, 2025, and for the year ended July 31, 2025, including the related notes, and the financial highlights for each of the periods indicated therein (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 as of August 31, 2026, the results of its operations for the year then ended, the changes in its net assets for the year ended August 31, 2026, for the one month in the period ended August 31, 2025, and for the year ended July 31, 2025 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’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 Fund 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 of these financial statements 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.
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 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. Our procedures included confirmation of securities owned as of August 31, 2026 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP 
Boston, Massachusetts
October 15, 2026
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
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Tax information
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended August 31, 2026.
The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
The fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
The fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Eligible shareholders will be mailed a 2026 Form 1099-DIV in early 2027. This will reflect the tax character of all distributions paid in calendar year 2026.
Please consult a tax advisor regarding the tax consequences of your investment in the fund.
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EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES

This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Funds II (the Trust) of the Advisory Agreement (the Advisory Agreement) with John Hancock Investment Management LLC (the Advisor) and the Subadvisory Agreement (the Subadvisory Agreement) with Nordea Investment Management North America, Inc. (the Subadvisor) for John Hancock Multi-Asset Absolute Return Fund (the fund). The Advisory Agreement and Subadvisory Agreement are collectively referred to as the Agreements. Prior to the June 22-25, 2026 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a meeting held on May 26-28, 2026. The Trustees who are not “interested persons” of the Trust as defined by the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.
Approval of Advisory and Subadvisory Agreements
At meetings held on June 22-25, 2026, the Board, including the Independent Trustees, reapproved for an annual period the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to the fund.
In considering the Advisory Agreement and the Subadvisory Agreement, the Board received in advance of the meetings a variety of materials relating to the fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for a peer group of similar funds prepared by an independent third-party provider of fund data, performance information for an applicable benchmark index; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable, and other information provided by the Advisor and the Subadvisor regarding the nature, extent, and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the fund and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning fund performance, comparability of fees and total expenses, and profitability. However, the Board noted that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the fund, including quarterly performance reports prepared by management containing reviews of investment results and prior presentations from the Subadvisor with respect to the fund. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board also considered the nature, quality, and extent of non-advisory services, if any, to be provided to the fund by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the fund.
Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.
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Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets, and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board’s conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board’s ongoing regular review of fund performance and operations throughout the year.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor’s compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the fund’s compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund’s compliance programs, risk management programs, liquidity risk management programs, derivatives risk management programs, and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the fund, including, but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and other third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the fund, including entrepreneurial risk in sponsoring new funds, and ongoing risks, including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management and the quality of the performance of the Advisor’s duties, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
(a) the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues;
(b) the background, qualifications and skills of the Advisor’s personnel;
(c) the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;
(d) the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund;
(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; and
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(f) the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.
The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the fund.
Investment performance. In considering the fund’s performance, the Board noted that it reviews at its regularly scheduled meetings information about the fund’s performance results. In connection with the consideration of the Advisory Agreement, the Board:
(a) reviewed information prepared by management regarding the fund’s performance;
(b) considered the comparative performance of an applicable benchmark index;
(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and
(d) took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally.
The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and the results of the performance comparisons may vary depending on the selection and size of the peer group. The Board noted that the fund outperformed its benchmark index for the one-, five-, and ten-year periods ended December 31, 2025, and underperformed for the three-year period ended December 31, 2025. The Board also noted that the fund underperformed its peer group median for the one-, three-, five-, and ten-year periods ended December 31, 2025. The Board took into account management’s discussion of the factors that contributed to the fund’s performance relative to the benchmark index for the three-year period and relative to its peer group median for the one-, three-, five- and ten-year periods. The Board concluded that the fund’s performance is being monitored and reasonably addressed, where appropriate. The Board noted that the fund’s previous subadvisor was replaced in August 2019 and, as a result, the fund’s longer term performance in part reflects that of the previous subadvisor.
Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of fund data, including, among other data, the fund’s contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the fund in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and the Subadvisor, respectively. The Board considered the fund’s ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the fund’s ranking within a broader group of funds. In comparing the fund’s contractual and net management fees to those of comparable funds, the Board noted that such fees include both advisory and administrative costs. The Board noted that net management fees and net total expenses for the fund are higher than the peer group median.
The Board took into account management’s discussion of the fund’s expenses. The Board also took into account management’s discussion with respect to the overall management fee and the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fee, and that such fees are negotiated at arm’s length with respect to the Subadvisor. In addition, the Board took into account that management had agreed to implement an overall fee waiver across the complex, including the fund, which is discussed further below. The Board also noted actions taken over the past several years to reduce the fund’s operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to the fund and that the fund has breakpoints in its contractual management fee schedule that reduces management fees as assets increase. The Board reviewed
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information provided by the Advisor concerning the investment advisory fee charged by the Advisor or one of its advisory affiliates to other clients (including other funds in the John Hancock Fund Complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to the fund and the services they provide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to the fund is reasonable in light of the nature, extent, and quality of the services provided to the fund under the Advisory Agreement.
Profitability/Fall out benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates from the Advisor’s relationship with the Trust, the Board:
(a) reviewed financial information of the Advisor;
(b) reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund;
(c) received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund;
(d) received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies;
(e) considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board;
(f) considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement;
(g) noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund;
(h) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund;
(i) noted that the subadvisory fee for the fund is paid by the Advisor and is negotiated at arm’s length;
(j) considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and
(k) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.
Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates from their relationship with the fund was not unreasonable in view of all factors considered.
Economies of scale. In considering the extent to which economies of scale would be realized as the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
(a) considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is
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  based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund;
(b) reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and
(c) also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
(1) information relating to the Subadvisor’s business, including current subadvisory services to the fund (and other funds in the John Hancock Fund Complex);
(2) the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds;
(3) the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data; and
(4) information relating to the nature and scope of any material relationships and their significance to the fund’s Advisor and Subadvisor.
Nature, extent, and quality of services. With respect to the services provided by the Subadvisor, the Board received information provided to the Board by the Subadvisor, including the Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as received information relating to the Subadvisor’s compensation program. The Board reviewed the Subadvisor’s history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor’s investment and compliance personnel who provide services to the fund. The Board also considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of the Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor’s investment process and philosophy. The Board took into account that the Subadvisor’s responsibilities include the development and maintenance of an investment program for the fund that is consistent with the fund’s investment objective, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor’s brokerage policies and practices, including with respect to best execution and soft dollars.
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Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor, the Board noted that the fees under the Subadvisory Agreement are paid by the Advisor and not the fund.
The Board also relied on the ability of the Advisor to negotiate the Subadvisory Agreement with the Subadvisor, which is not affiliated with the Advisor, and the fees thereunder at arm’s length. As a result, the costs of the services to be provided and the profits to be realized by the Subadvisor from its relationship with the fund were not a material factor in the Board’s consideration of the Subadvisory Agreement.
The Board also received information regarding the nature and scope (including their significance to the Advisor and its affiliates and to the Subadvisor) of any material relationships with respect to the Subadvisor, which include arrangements in which the Subadvisor or its affiliates provide advisory, distribution, or management services in connection with financial products sponsored by the Advisor or its affiliates, and may include other registered investment companies, a 529 education savings plan, managed separate accounts and exempt group annuity contracts sold to qualified plans. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered the fund’s subadvisory fees as compared to similarly situated investment companies deemed to be comparable to the fund as included in the report prepared by the independent third party provider of fund data, to the extent available. The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the fund and compared them to fees charged by the Subadvisor to manage other subadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.
Subadvisor performance. As noted above, the Board considered the fund’s performance as compared to the fund’s peer group median and the benchmark index and noted that the Board reviews information about the fund’s performance results at its regularly scheduled meetings. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, as applicable.
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
(1) the Subadvisor has extensive experience and demonstrated skills as a manager;
(2) the performance of the fund is being monitored and reasonably addressed, where appropriate;
(3) the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and
(4) the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows.
***
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Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement for an additional one-year period.
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Other N-CSR Items
(Unaudited)
Item 8.  Changes in and disagreements with accountants
None.
Item 9.  Proxy disclosures
When applicable, results of shareholder voting are included in the Shareholder meeting section of this report.
Item 10.  Remuneration paid to Trustees, officers, and others
Trustees’ fees are included in the financial statements.
Item 11.  Statement regarding basis for approval of investment advisory contract
When applicable, the statement regarding the basis for approval of any investment advisory contract is included in the Evaluation of advisory and subadvisory agreements by the Board of Trustees section of this report.
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John Hancock Investment Management Distributors LLC, Member FINRA, SIPC
200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Multi-Asset Absolute Return Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF5889524 395A 8/26
10/26


ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.


ITEM 9. PROXY DISCLOSURE FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Information included in Item 7, if applicable.


ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Refer to information included in Item 7.


ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

Information included in Item 7, if applicable.


ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.


ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.


ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.


ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

No material changes.


ITEM 16. CONTROLS AND PROCEDURES.

(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial 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 control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.


ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.


ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

Not applicable.



                                                                        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.

John Hancock Funds II

By: /s/ Kristie M. Feinberg
------------------------------
Kristie M. Feinberg
President,
Principal Executive Officer
Date: October 15, 2026

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: /s/ Kristie M. Feinberg
------------------------------
Kristie M. Feinberg
President,
Principal Executive Officer
Date: October 15, 2026
By: /s/ Fernando A. Silva
---------------------------
Fernando A. Silva
Chief Financial Officer,
Principal Financial Officer
Date: October 15, 2026


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