Mr. Wayne Park reports

JOHN HANCOCK RETIREMENT LAUNCHES DYNAMIC DEFAULT INVESTMENT FEATURE TO HELP PARTICIPANTS ADDRESS MORE COMPLEX FINANCIAL NEEDS AND PREPARE FOR RETIREMENT

Manulife Financial Corp.'s John Hancock Retirement has launched a dynamic investment feature available to new clients converting from an existing plan to better help their participants address more complex financial needs and prepare for retirement.

During plan conversion, participants usually are automatically invested in an age-appropriate target date fund (TDF) until they decide to manage their own investments or leave them in the default investment. With John Hancock Retirement's dynamic retirement strategy, participants over an age set by the plan sponsor will be transitioned automatically from the TDF to the John Hancock Personalized Retirement Advice (Retirement Advice) managed account program, which uses Morningstar Investment Management LLC's advice methodology.

When participants are early in their careers, the one-size-fits-all asset allocation of TDFs is generally sufficient to meet their needs. But as participants advance in their careers, their lives and financial circumstances are likely to change, requiring a more personalized investment strategy.

"Managed account programs, such as Retirement Advice, are designed to provide customization and adapt to a participant's evolving financial needs and goals," said Wayne Park, CEO, John Hancock Retirement. "Nearly 90 percent of our retirement plan participants recently said that professional management of their retirement investments and savings would positively impact them getting financially prepared for retirement.1 We're pleased we can offer this solution for those who feel it will benefit their retirement readiness."

John Hancock teamed up with Morningstar Investment Management to offer Retirement Advice. Retirement Advice is a comprehensive, professional portfolio management program that retirement savers in John Hancock-sponsored retirement plans can enroll in for more sophisticated portfolio management and construction.

Retirement Advice selects funds from the plan's investment lineup to create a portfolio for a retirement saver, monitors market fluctuations, and makes adjustments to help ensure the investment mix matches the participant's goals and financial situation. Participants can personalize their investment mix based on many factors, including age, projected years until retirement, account balance, outside savings, and estimated Social Security benefits.

Retirement Advice users receive ongoing professional management of their investment mix to help keep them on track, guidance on how much they may need to save to help them reach their goals, and portfolio withdrawal strategy recommendations as they near retirement. If participants have further questions, they'll have access to a team of licensed, noncommissioned representatives who support Retirement Advice.

Retirement Advice can be a cost-effective means of getting professional advice, and participants have a 90-day period free of program fees to experience it. After that, participants pay a monthly program fee based on a tiered schedule, depending on their account balance. If participants prefer to manage their own investments, they can opt out of the program at any time without penalty.

"Our goal is to help people plan and save for retirement. We've made Retirement Advice available to all our plans and found that participants who are enrolled in it are projected to replace an additional 20 percent of their income come retirement,"2 said Jack Barry, head of product development, John Hancock Retirement.

About John Hancock Retirement

John Hancock Retirement is the U.S. retirement business of Manulife Investment Management. For more than 50 years, we've helped people plan and invest for retirement; today, we're one of the largest full-service providers in the United States.* We take a hands-on consultative approach based on the idea that no two plans-and no two plan participants-are exactly alike. We partner with plan sponsors, advisors, and third-party administrators to ensure that every plan is personal to the participant and delivers proven results.

As of March 31, 2023, John Hancock serviced over 56,000 retirement plans with over 3.1 million participants and over $195 billion in AUMA.**

About Manulife Investment Management

Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 19 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.