Important Notes: 1 Manulife Advanced Fund SPC – Greater Bay Area Growth and Income Segregated Portfolio (“Manulife Greater Bay Area Growth & Income Fund” or the “Fund”) invests primarily in equities, equity-related securities and fixed income securities of issuers which are connected to the region comprising , and the Province of (Greater Bay Area), which exposes investors to fixed income and equity (including REITs) market and asset allocation strategy risk as well as geographic concentration risk. 2 The Fund invests in emerging markets, which may involve increased risks and special considerations not typically associated with investment in more developed markets, such as likelihood of a higher degree of volatility, lower liquidity of investments, political and economic uncertainties, legal and taxation risks, settlement risk, custody risks and currency risks/control. 3 The Fund’s investment in equity securities and equity-related securities in Mainland China is subject to general market risks, as well as A-Share market risk, Connect Schemes risk, volatility and liquidity risk, and Mainland China tax risk. 4 The Fund’s investment in fixed income securities and cash and cash equivalents is subject to credit risk, interest rate risk, downgrade risk, sovereign debt risk, valuation risk, credit rating risk and currency risk; and specifically with respect to Mainland China fixed income securities is subject to credit rating agency risk, China Interbank Bond Market risk, RMB currency and conversion risk, Mainland China tax risk and Connect Schemes risk. 5 The Fund does not guarantee distribution of dividends, the frequency of distribution, and the amount/rate of dividends. The Fund may at its discretion pay dividend out of capital or gross income while charging/paying all or part of its fees and expenses out of its capital. This amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment, and may result in an immediate reduction of the net asset value per share of the respective share classes after the distribution date. 6 Investment involves risk. The Fund may expose its investors to capital loss. Investors should not make decisions based on this material alone and should read the offering document for details, including the risk factors, charges and features of the Fund and its share classes.

The First* August 2021 Greater Bay Area Fund in Manulife Hong Kong Greater Bay Area Growth & Income Fund

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* Manulife Greater Bay Area Growth & Income Fund was launched on 11 June 2018 and is the first Greater Bay Area Fund in Hong Kong. Growth & Income from the Greater Bay Area (GBA)

Equities: The synergies generated from 4 major drivers Focusing on four main sectors to unleash the enormous potential in the GBA.

R&D/Innovation R&D spending as of GDP % 5.0 GBA has a higher level of R&D intensity. ・ 4.0 For example, ’s R&D capital 3.0 exceeds that of many global R&D leaders. 2.0 Focus sectors: electric vehicle supply 1.0 ・ chain, biotechnology, technology 0.0

Israel Japan China hardware & equipment, etc. Sweden Austria Finland Iceland France Germany DenmarkBelgium Shenzhen Guangdong South Korea United States Source: 2019 data from OECD, Statistics Bureau of Guangdong Province and Shenzhen Statistics Bureau, 31 May 2021.

Consumption upgrade Disposable income per capita (urban): Guangdong vs National level With a much higher disposable income per 55,000 ・ Guangdong National level capita than the national level, GBA’s affluent 50,000 45,000 population continue to drive the consumption 40,000 growth and upgrade within the region. 35,000 Focus sectors: property management, 30,000 25,000 ・ (RMB per annum) health care services, premium food & 20,000 beverage, etc. 15,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source: National Bureau of Statistics of China, CEIC, 31 December 2020.

Finance/Real estate Government’s financial support measures

Wealth Fund raising Management Investment Ample policy support to enhance Connect, SZ-HK ・ Stock Connect, the financial connectivity in GBA, Bond Connect Capital market, IPO, asset including the Wealth Management management Connect scheme. Core financial Mobile Focus sectors: bank & insurance, Offshore payment, ・ RMB centre, hub e-commerce, property development, etc. Cross-border cross-border robo-advisor FinTech trade capital settlement Professional services in M&A, insurance, accounting, legal, etc Financial service Source: The People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange, 30 June 2021.

Infrastructure Infrastructures improve community connection

Thanks to well-developed cross- ・ Cross-river passages under boundary transportation networks and Estuary

facilities, GBA’s community connection Pearl River Huangpu Bridge ・ Lianhuashan Bridge and mobility are improving under the ・ ・ “one-hour living circle”. Guangzhou-Shenzhen-Hong ・ Focus sectors: airport/expressway, Kong Express Rail Link ・ Shenzhen Bridge ・ utilities services (e.g. water/gas/ Bridge ・ Shenzhen-Maoming Railway electricity supply), etc. ・ Hong Kong Shenzhen-Zhongshan Bridge ・ Bridge Macau ・ Hong Kong-Zhuhai-Macao ・ Bridge

For illustrative purposes only. Source: Manulife Investment Management, 30 June 2021. 2 Manulife Greater Bay Area Growth & Income Fund Fixed income: A wide Chinese corporate bonds, including high yield (HY) and investment grade (IG) ・ range of income could provide stable and relatively attractive yield for the investment portfolio. opportunities Variety of China’s IG bonds could provide opportunities for generating income ・ for the investment portfolio. Bonds issued by financial and quasi-government Government and institutions, might effectively cushion macro and geopolitical uncertainties. government related Bonds issued by infrastructures and utilities might benefit from the government’s economic stimulus. Corporate China bonds offer relatively attractive yields 3.76% (Investment grade)

2.06% Corporate 1.47% (High yield)

10-year US Treasury US IG bonds China bonds (HY & IG) Source: Bloomberg, as of 30 June 2021, US IG bonds were represented by ICE BofAML US Corporate Index, China bonds (HY & IG) were represented by J.P. Morgan Asia Credit Index China. － Manulife Greater Bay Area Growth & Income Fund 2 assets to generate growth and income By investing in two asset Equities classes: equities and fixed Fixed income tap the capital generates income income which are connected to growth potential streams the GBA, the Fund does not only tap on the region’s growth opportunities, but also Investing for growth in equity and balanced with defensive generates income streams. positioning in bonds Wide coverage in equities: capture GBA’s growth potential with four main growth themes Feasible allocation in bonds: offer defensive and steady returns

Aims at monthly Dividend schedule distribution Record date Ex-dividend date Ex-dividend NAV* Class AA (HKD) Inc Dividend Annualised The Fund aims to make monthly per share dividend yield* distributions. 30/6/2021 2/7/2021 $105.2099 0.28 3.24% 31/5/2021 1/6/2021 $109.1526 0.28 3.12% 30/4/2021 3/5/2021 $106.6325 0.28 3.20% (The distribution amount is not guaranteed. Distribution may be paid out of capital. Refer to Important Note 5.) * Source: Manulife Investment Management, as of 2 July 2021, refers only to Class AA (HKD) Inc. Annualised yield = [(1+distribution per unit/ex-dividend NAV)^distribution frequency per annum]–1, the annualised dividend yield is calculated on the basis of the latest relevant dividend distribution and dividend reinvested, and may be higher or lower than the actual annual dividend yield. Please note that dividend is not guaranteed, and a positive dividend yield does not imply a positive return. Manulife Investment Management’s expertise 30+ years 40+ 70+ Investment experience by Equities professionals Fixed income lead fund manager in Greater China1 professionals in Asia1 Source: Manulife Investment Management, as of 31 March 2021. 1 Total is comprised of investment professionals of Manulife Investment Management, Manulife-TEDA Fund Management Co. Ltd., a 49% joint venture is a joint venture between Manulife Financial and Northern International Trust, part of the Tianjin TEDA Investment Holding Co. Ltd. (TEDA), and Mahindra Manulife Investment Management Private Limited, a 49% joint venture of Manulife and Mahindra AMC. Note: some professionals may support additional asset classes. 539152

Manulife Greater Bay Area Growth & Income Fund 3 Manulife Greater Q&A with Fund Manager August 2021 Bay Area Growth & Income Fund

Q: How did the markets perform in July? A : Chinese equities1 reacted negatively towards a raft of new regulations that switched the market to a risk-off scenario. The regulatory changes were mainly targeted at national giants on antitrust, the protection of the well-being of minors, and to ensure the welfare of flexibly employed workers of delivery platforms. Greater Bay Area equities remained resilient especially those in the infrastructure and financials were less affected amidst the market sell off. Hong Kong equities1 moved lower on the back of uncertainty brought about by China’s regulatory changes. China’s investment grade credit markets1 posted positive returns over the month owing to lower US Treasury yields and positive carry, offsetting wider credit spreads. The J.P. Morgan China Investment Grade Total Return index increased by 0.45% in US dollar terms. Idiosyncratic credit headlines of a renowned Chinese high-yield property facing Winson Fong a potential restructuring scenario continued to dampen sentiment, whilst Chinese investment-grade property space was relatively resilient. Managing Director and Q: What were the drivers of the Fund performance over the month? Senior Portfolio Manager A: Portfolio holdings in consumer discretionary and financials were the main detractors while materials offset part of the losses. During the month, the Fund added exposure Greater China Equities team in industrials and construction materials that were beneficiaries of infrastructure of Manulife Investment investments. The Fund also added exposure in Hong Kong based financials that offer Management, specialising stable dividend yields and are beneficiaries of the wealth connect programmes. in Hong Kong and China Among the winners, the Fund’s holding in a smart energy equipment company was a equities. Based in Hong key contributor. The company enjoyed robust demand from its wind turbine segment Kong, Winson contributes and renewable energy power generation business. The stock rallied on the company’s preannouncement of its first half 2021 earnings growth at the 66-85% range. On the to the management of the detractor side, the Fund’s position in a GBA focused property management company firm’s Hong Kong and Greater retreated on notices issued by the authorities which highlighted the importance of China equity portfolios. compliance to existing measures. While the joint notices did not encompass any new regulatory measures, the property management services sector experienced a selloff.

Winson has over 30 years On the fixed income side, the portfolio’s exposure to corporate bonds was a detractor as the sector underperformed the government-related segment over the period. Security of investment experience in selection also detracted with exposure to securities in the Chinese property sector lagging. Asian equities, with a focus Q: What is the investment outlook of Greater Bay Area (GBA) in the second half? on the Greater China and A: For the second half of the year, we believe the regional focus of the Fund continues to Hong Kong markets. This provide differentiated exposure to investors, thanks to our niche investment universe has included managing that focus on regional champions with their own growth dynamics not overshadowed institutional mandates, by nation-wide giants. including pension and On the equity side, the Fund’s four key investment themes remain intact. Sector-wise, sovereign wealth funds and we look to increase allocation to financials sectors which are the key beneficiaries of the upcoming GBA Wealth Connect Program. We are also keen to add exposure in quality mutual fund products. industrials companies that fit into the infrastructure and innovation themes of the Fund. On the fixed income side, we continue to be invested across a diversified range of sectors to buffer against potential geopolitical risks even though Covid-19 risk appears to be reducing. In terms of sector tilt, we maintained exposure to the property sector which continues to provide better risk-reward opportunities in the GBA-related universe. The Fund’s strategy will continue our current stances of (1) keeping adequate portfolio diversification aiming at 70/30 split between equity/fixed income2, to aim to capture both capital appreciation and stable dividend/interest income, (2) targeting on specific stock opportunities within the key GBA investment themes within the equities. The objective is to provide investors steady total return at low volatility, especially during times of market swings.

Unless otherwise stated, all information sources are from Manulife Investment Management, as of 31 July 2021. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre- existing political, social and economic risks. Any such impact could adversely affect the fund’s performance, resulting in losses to your investment. The information in this material may contain projections or other forward-looking statements regarding future events, targets, management discipline or other expectations, and is only as current as of the date indicated. There is no assurance that such events will occur, and may be significantly different than that shown here. 1 Source: Bloomberg, as of 31 July 2021. Chinese equities were represented by MSCI China Index; Hong Kong equities were represented by Hang Seng Index. Chinese investment grade credit market was represented by J.P. Morgan China Investment Grade Corporate Total Return Index. 2 For illustrative purpose only. Information about the asset allocation is historical and is not an indication of the future composition. Issued by Manulife Investment Management (Hong Kong) Limited. This material has not been reviewed by the Securities and Futures Commission (SFC).

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4 Manulife Greater Bay Area Growth & Income Fund