For each managed product, including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts, with at least a 3-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return that accounts for variation in a fund’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. Exchange-traded funds and open-end mutual funds are considered a single population for comparative purposes. The top 10.0% of funds in each category, the next 22.5%, 35.0%, 22.5%, and bottom 10.0% receive 5, 4, 3, 2, or 1 star(s), respectively. The overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. The rating formula most heavily weights the 3-year rating, using the following calculation: 100% 3-year rating for 36 to 59 months of total returns, 60% 5-year rating/40% 3-year rating for 60 to 119 months of total returns, and 50% 10-year rating/30% 5-year rating/20% 3-year rating for 120 or more months of total returns. Star ratings do not reflect the effect of any applicable sales load. Hollow stars indicate Morningstar’s extended performance rating. Morningstar’s extended performance rating is calculated by adjusting the historical total returns of the oldest share class to reflect the fee structure of a younger share class, and then compounding the combined record of actual and adjusted performance into the 3-, 5-, and 10-year time periods necessary to produce Morningstar Risk-Adjusted Returns and a Morningstar Rating. Extended performance ratings do not affect actual Morningstar ratings; the overall ratings for multi-share class funds are based on actual performance only or extended performance only. Once a share class turns 3 years old, the overall Morningstar Rating will be based on actual ratings only. Adjusted historical performance is only an approximation of actual returns, and Morningstar’s calculation methodology may differ from those used by other entities.

© 2026 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers, (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results.

This material does not constitute tax, legal, or accounting advice, and neither John Hancock nor any of its agents, employees, or registered representatives are in the business of offering such advice. It was not intended or written for use, and cannot be used, by any taxpayer for the purpose of avoiding any IRS penalty. It was written to support the marketing of the transactions or topics it addresses. Anyone interested in these transactions or topics should seek advice based on his or her particular circumstances from independent professional advisors. John Hancock Investment Management and our representatives and affiliates may receive compensation derived from the sale of and/or from any investment made in our products and services.

Fixed-income investments are subject to interest-rate and credit risk; their value will normally decline as interest rates rise or if an issuer is unable or unwilling to make principal or interest payments. Investments in higher-yielding, lower-rated securities include a higher risk of default. Municipal bond prices can decline due to fiscal mismanagement or tax shortfalls, or if related projects become unprofitable. Liquidity—the extent to which a security may be sold or a derivative position closed without negatively affecting its market value, if at all—may be impaired by reduced trading volume, heightened volatility, rising interest rates, and other market conditions. The use of hedging and derivatives could produce disproportionate gains or losses and may increase costs. Tender option bonds use leverage that magnifies both positive and negative returns, which increases the fund risk by magnifying the volatility of returns and could lead to termination of the Tender Option Bond Trust. In that event, the fund may sell assets to purchase the trust’s floating-rate security, which could negatively affect fund performance or liquidate the trust’s assets. Fund distributions generally depend on income from underlying investments and may vary or cease altogether in the future. The fund may invest heavily in bonds from any given state or region, and currently has substantial investments in obligations of Massachusetts and New York and their agencies, instrumentalities, and/or political subdivisions. If the fund invests heavily in any one state or region, performance could be disproportionately affected by factors particular to that state or region. Please see the fund’s prospectus for additional risks.

SMAs: John Hancock Investment Management LLC and Manulife Investment Management (US) LLC are affiliated SEC-registered investment advisers utilizing the name John Hancock Investment Management.

SMA strategies are wrap strategies managed by Manulife Investment Management, which is an indirect, wholly owned subsidiary of Manulife Financial Corporation (Manulife) and is affiliated with several U.S.-based and non-U.S.-based investment advisors who are also subsidiaries or affiliates of Manulife. Collectively, Manulife Investment Management and its advisory affiliates represent the diversified investment management division of Manulife and provide comprehensive asset management solutions for investors. Certain of these companies within Manulife may provide services to Manulife Investment Management. Mutual funds are distributed by John Hancock Investment Management Distributors LLC.

The strategies are offered by John Hancock Investment Management. Wrap strategies typically apply a bundled fee that consists of custody, trading, investment management, administration, reporting, and performance measurement fees. SMA portfolios are only available through investment professionals. Not all strategies may be available on all platforms, and fees and terms may vary.

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