An anonymous director reports

JOHN HANCOCK HEDGED EQUITY & INCOME FUND REQUIRED NOTICE TO SHAREHOLDERS - SOURCES OF DISTRIBUTION UNDER SECTION 19(A)

John Hancock Hedged Equity & Income Fund, a closed-end fund managed by John Hancock Advisers LLC and subadvised by Wellington Management Company LLP, has released the sources its quarterly distribution of 37.60 cents per share paid to all shareholders of record as of March 13, 2014, pursuant to the fund's managed distribution plan. This press release is issued as required by an exemptive order granted to the fund by the U.S. Securities and Exchange Commission. This notice provides shareholders of the John Hancock Hedged Equity & Income with important information concerning the distribution declared on March 3, 2014, and paid on March 31, 2014. No action is required on your part.

                 DISTRIBUTION

Distribution period                  March, 2014

Distribution amount per common share     $0.3760   

The attached distribution sources table sets forth the estimated sources of the current distribution, paid March 31, 2014, and the cumulative distributions paid this fiscal year to date from the following sources: net investment income; net realized short term capital gains; net realized long term capital gains; and return of capital or other capital source. All amounts are expressed on a per common share basis and as a percentage of the distribution amount.

                                     DISTRIBUTION SOURCES
Source                                                           Current %    Total cumulative distributions %
                                                           distribution ($)     for the fiscal year to date ($)

Net investment income                                              $0.1785                             $0.1785
Net realized short-term capital gains                               0.0000                              0.0000
Net realized long-term capital gains                                0.1975                              0.1975
Return of capital or other capital source                           0.0000                              0.0000
Total per common share                                              0.3760                              0.3760

Notes:

• Average annual total return (in relation to net asset value) for the period commencing on May 26, 2011, and ending on Feb. 28, 2014: 9.21 per cent;
• Annualized current distribution rate expressed as a percentage of net asset value as of Feb. 28, 2014: 7.55 per cent;
• Cumulative total return (in relation to NAV) for the fiscal year through Feb. 28, 2014: 2.05 per cent;
• Cumulative fiscal year-to-date distribution rate expressed as a percentage of NAV as of Feb. 28, 2014: 1.89 per cent.

The fund's current fiscal year began on Jan. 1, 2014, and will end on Dec. 31, 2014.

You should not draw any conclusions about the fund's investment performance from the amount of this distribution or from the terms of the fund's managed distribution plan. The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax-reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the fund's investment experience during the rest of its fiscal year and may be subject to changes based on tax regulations. The fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. The fund has declared the March, 2014, distribution pursuant to the fund's managed distribution plan. Under the plan, the fund makes quarterly distributions of an amount equal to 37.60 cents per share, based upon an annual distribution rate of 8.00 per cent of the fund's net asset value of $18.80 on Aug. 31, 2013 (representing a quarterly distribution rate of 2.00 per cent of the fund's Aug. 31, 2013, net asset value). The amount will be paid quarterly until further notice.

If you have questions or need additional information, please contact your financial professional or call the John Hancock investment closed-end fund information line at 1-800-843-0090, Monday through Friday between 8 a.m. and 7 p.m. (Eastern Time).

About John Hancock Investments

John Hancock Investments provides asset management services to individuals and institutions through a unique manager-of-managers approach. A wealth management business of John Hancock Financial, it managed over $111-billion in assets as of Dec. 31, 2013, across mutual funds, college savings plans and retirement plans.

About John Hancock Financial and Manulife Financial

John Hancock Financial is a division of Manulife Financial.