Manulife Asset Management Pooled Funds Annual Report

December 31, 2018

ManulifeAM.com MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT Table of Contents

Independent Auditor’s Report 1 Manulife Asset Management Emerging Markets Local Currency Debt Pooled Fund 143 MONEY MARKET FUND Manulife Asset Management Global Diversified Manulife Asset Management Money Market Pooled Balanced Pooled Fund 147 Fund 4 EQUITY FUNDS Manulife Asset Management US Money Market Pooled Fund 7 Manulife Asset Management Canadian Large Cap Growth Pooled Fund 150 INCOME FUNDS Manulife Asset Management Canadian Equity Index Manulife Asset Management Canadian Bond Index Pooled Fund 153 Pooled Fund 9 Manulife Asset Management Canadian Core Equity Manulife Asset Management Canadian Core Fixed Pooled Fund 159 Income Pooled Fund 29 Manulife Asset Management Canadian Core Equity Manulife Asset Management Canadian Long Duration Focused Pooled Fund 162 Fixed Income Pooled Fund 38 Manulife Asset Management Capped Canadian Equity Manulife Asset Management Canadian Core Plus Fixed Pooled Fund 165 Income Pooled Fund 46 Manulife Asset Management Canadian Value Equity Manulife Asset Management Canadian Corporate Pooled Fund 168 Fixed Income Pooled Fund 58 Manulife Asset Management Canadian All Cap Manulife Asset Management Canadian Short Duration Focused Equity Pooled Fund 171 Fixed Income Pooled Fund 64 Manulife Asset Management US Large Cap Core Manulife Asset Management Short-Term Bond Pooled Pooled Fund 174 Fund 69 Manulife Asset Management US Equity Index Pooled Manulife Asset Management Short-Term Liability Fund 177 Government Bond Pooled Fund 74 Manulife Asset Management US Equity Index Pooled Manulife Asset Management Short-Term Liability Fund (Non-Taxable) 185 Corporate Bond Pooled Fund 78 Manulife Asset Management US Small Cap Value Manulife Asset Management Mid-Term Liability Pooled Fund 193 Government Bond Pooled Fund 83 Manulife Asset Management Emerging Markets Equity Manulife Asset Management Mid-Term Liability Pooled Fund 196 Corporate Bond Pooled Fund 88 Manulife Asset Management Global Focus Pooled Manulife Asset Management Long-Term Liability Fund 199 Government Bond Pooled Fund 95 Manulife Asset Management Global Equity II Pooled Manulife Asset Management Leveraged Liability Fund 202 Government Bond Pooled Fund 99 Manulife Asset Management Global Equity Index Manulife Asset Management Ultra Long Duration Pooled Fund 205 Fixed Income Pooled Fund 102 Manulife Asset Management Global Natural Resources Manulife Asset Management Strategic Income Pooled Pooled Fund 207 Fund 107 Manulife Asset Management Global Energy Pooled Manulife Asset Management Strategic Income (ex Fund 210 Tobacco and Marijuana) Pooled Fund 123 Manulife Asset Management Global Precious Metals Manulife Asset Management Emerging Markets Pooled Fund 213 Corporate Debt Pooled Fund 136 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

Manulife Asset Management Global Small Cap Equity GLOBAL ALLOCATION FUNDS Pooled Fund 216 Manulife Asset Management Global Opportunistic Manulife Asset Management International Equity Allocation Pooled Fund 244 Index Pooled Fund 220 ABSOLUTE RETURN FUNDS TARGET DE-RISKING FUNDS Manulife Asset Management Global Absolute Return Manulife Asset Management Target De-Risking 80 Strategies Pooled Fund 246 Pooled Fund 232 Manulife Asset Management Global Absolute Return Manulife Asset Management Target De-Risking 90 Strategies Private Pooled Fund 248 Pooled Fund 234 LIMITED PARTNERSHIPS Manulife Asset Management Target De-Risking 100 Pooled Fund 236 Manulife Asset Management S&P / TSX 60 Pooled Fund II 251 Manulife Asset Management Target De-Risking 105 Young Pooled Fund 238 Manulife Real Asset Fund 254

Manulife Asset Management Target De-Risking 105 PRIVATE FUND Average Pooled Fund 240 Fonds Manuvie - HEC 258 Manulife Asset Management Target De-Risking 105 Notes to Financial Statements 261 Mature Pooled Fund 242 INDEPENDENT AUDITOR’S REPORT

To the Unitholders/Partners of

Manulife Asset Management Money Market Pooled Fund Manulife Asset Management US Money Market Pooled Fund Manulife Asset Management Canadian Bond Index Pooled Fund Manulife Asset Management Canadian Core Fixed Income Pooled Fund Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund Manulife Asset Management Canadian Core Plus Fixed Income Pooled Fund Manulife Asset Management Canadian Corporate Fixed Income Pooled Fund Manulife Asset Management Canadian Short Duration Fixed Income Pooled Fund Manulife Asset Management Short-Term Bond Pooled Fund Manulife Asset Management Short-Term Liability Government Bond Pooled Fund Manulife Asset Management Short-Term Liability Corporate Bond Pooled Fund Manulife Asset Management Mid-Term Liability Government Bond Pooled Fund Manulife Asset Management Mid-Term Liability Corporate Bond Pooled Fund Manulife Asset Management Long-Term Liability Government Bond Pooled Fund Manulife Asset Management Leveraged Liability Government Bond Pooled Fund Manulife Asset Management Ultra Long Duration Fixed Income Pooled Fund Manulife Asset Management Strategic Income Pooled Fund Manulife Asset Management Strategic Income (ex Tobacco and Marijuana) Pooled Fund Manulife Asset Management Emerging Markets Corporate Debt Pooled Fund Manulife Asset Management Emerging Markets Local Currency Debt Pooled Fund Manulife Asset Management Global Diversified Balanced Pooled Fund Manulife Asset Management Canadian Large Cap Growth Pooled Fund Manulife Asset Management Canadian Equity Index Pooled Fund Manulife Asset Management Canadian Core Equity Pooled Fund Manulife Asset Management Canadian Core Equity Focused Pooled Fund Manulife Asset Management Capped Canadian Equity Pooled Fund Manulife Asset Management Canadian Value Equity Pooled Fund Manulife Asset Management Canadian All Cap Focused Equity Pooled Fund Manulife Asset Management US Large Cap Core Pooled Fund Manulife Asset Management US Equity Index Pooled Fund Manulife Asset Management US Equity Index Pooled Fund (Non-Taxable) Manulife Asset Management US Small Cap Value Pooled Fund Manulife Asset Management Emerging Markets Equity Pooled Fund Manulife Asset Management Global Focus Pooled Fund Manulife Asset Management Global Equity II Pooled Fund Manulife Asset Management Global Equity Index Pooled Fund Manulife Asset Management Global Natural Resources Pooled Fund Manulife Asset Management Global Energy Pooled Fund Manulife Asset Management Global Precious Metals Pooled Fund Manulife Asset Management Global Small Cap Equity Pooled Fund Manulife Asset Management International Equity Index Pooled Fund Manulife Asset Management Target De-Risking 80 Pooled Fund Manulife Asset Management Target De-Risking 90 Pooled Fund Manulife Asset Management Target De-Risking 100 Pooled Fund Manulife Asset Management Target De-Risking 105 Young Pooled Fund Manulife Asset Management Target De-Risking 105 Average Pooled Fund Manulife Asset Management Target De-Risking 105 Mature Pooled Fund Manulife Asset Management Global Opportunistic Allocation Pooled Fund Manulife Asset Management Global Absolute Return Strategies Pooled Fund Manulife Asset Management Global Absolute Return Strategies Private Pooled Fund Manulife Asset Management S&P / TSX 60 Pooled Fund II Manulife Real Asset Fund Fonds Manuvie - HEC

(collectively, the “Funds”)

Opinion We have audited the financial statements of the Funds which comprise the statements of financial position as at December 31, 2018 and 2017, and the statements of comprehensive income, statements of changes in net assets attributable to unitholders/partners and statements of cash flows for the periods then ended, and notes to the financial statements, including a summary of significant accounting policies.

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Funds as at December 31, 2018 and 2017, and their financial performance and their cash flows for the periods then ended in accordance with International Financial Reporting Standards (IFRSs).

Basis for Opinion We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Funds in accordance with the ethical requirements that are relevant to our audit of the financial statements in Canada, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of Management and Those Charged with Governance for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with IFRSs, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Funds’ ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Funds or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Funds’ financial reporting process.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Canadian generally accepted auditing standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with Canadian generally accepted auditing standards, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. • Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Funds’ ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Funds to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Toronto, Canada March 20, 2019

MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MONEY MARKET POOLED MANULIFE ASSET MANAGEMENT MONEY MARKET POOLED FUND FUND

STATEMENTS OF FINANCIAL POSITION STATEMENTS OF COMPREHENSIVE INCOME As at December 31, December 31, 2018 2017 For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts) ($ in thousands except for per unit amounts)

Assets Income Current assets Interest for distribution purposes 238 184 Investments, at fair value 34,288 13,992 Other income (loss) - 1 Cash 21 4 Realized gain (loss) on sales of investments (9) (36) Receivable from Manager - 10 Realized gain (loss) on derivatives - (1) Interest, dividends and other receivables 4 9 Change in unrealized appreciation (depreciation) in the value of investments 5 1 34,313 14,015 234 149 Liabilities Expenses Current liabilities Audit fees 4 5 Accrued expenses and other liabilities 9 9 Transfer agent fees 4 3 99Filing fees 1 1 Unitholder reporting costs 4 5 Net assets attributable to unitholders 34,304 14,006 Custodial fees 7 8 Net assets attributable to unitholders per unit 20 22 7.87 7.87 Less operating expenses absorbed by manager (6) (10) Net operating expenses 14 12 Increase (decrease) in net assets attributable to unitholders 220 137 Increase (decrease) in net assets attributable to unitholders per unit 0.12 0.07

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 14,006 15,573 Increase (decrease) in net assets attributable to unitholders 220 137 Distribution to unitholders from: Net investment income (225) (169)

Total distributions to unitholders (225) (169)

Security transactions Proceeds from units issued 27,293 16,512 Reinvestments of distributions to unitholders 225 169 Redemption of units (7,215) (18,216)

Total security transactions 20,303 (1,535)

Net assets attributable to unitholders - end of year 34,304 14,006

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 1,779 1,973 Units issued 3,464 2,092 Units issued for reinvestment of distributions 29 22 Units redeemed (916) (2,308)

Units outstanding end of year 4,356 1,779

The accompanying notes are an integral part of the financial statements.

4 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MONEY MARKET POOLED MANULIFE ASSET MANAGEMENT MONEY MARKET POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities SHORT-TERM INVESTMENTS 90.0% Increase (decrease) in net assets attributable to Commercial Paper 33.4% unitholders 220 137 220 Banner Trust, Adjustments for: 0.61%, Jan 11, 2019 220 220 Realized gain (loss) on sales of investments 9 36 1,400 Honda Canada Finance, Inc., Realized gain (loss) on derivatives - 1 0.81%, Jan 14, 2019 1,399 1,399 Change in unrealized appreciation (depreciation) in 210 Honda Canada Finance, Inc., the value of investments (5) (1) 1.32%, Feb 01, 2019 209 209 Purchases of investments (105,563) (57,491) 600 Honda Canada Finance, Inc., Proceeds from disposition of investments 85,263 58,991 1.21%, Feb 04, 2019 599 599 Receivable from Manager 10 (2) 1,100 Merit Trust, Interest, dividends and other receivables 5 5 0.54%, Jan 10, 2019 1,099 1,099 Accrued expenses and other liabilities - 2 350 Nestlé Capital Canada Ltd., 0.61%, Jan 16, 2019 350 350 Net cash provided by (used in) operating 850 OMERS Finance Trust, activities (20,061) 1,678 0.44%, Jan 08, 2019 850 850 Cash flows from financing activities 1,300 OMERS Finance Trust, Proceeds from sale of units 27,293 16,608 0.90%, Jan 17, 2019 1,299 1,299 Payments for units redeemed (7,215) (18,290) 480 Plaza Trust, Net cash provided by (used in) financing 0.49%, Jan 22, 2019 479 479 activities 20,078 (1,682) 1,000 Prime Trust, 0.54%, Jan 10, 2019 999 999 Net increase (decrease) in cash 17 (4) 170 Storm King Funding, Cash (bank overdraft) beginning of year 4 8 0.00%, Mar 18, 2019 170 170 Cash (bank overdraft) end of year 21 4 1,800 SURE Trust, Supplemental information on cash flows from operating activities: 0.81%, Jan 14, 2019 1,799 1,799 Interest received, net of foreign withholding taxes 243 189 2,000 Toronto Hydro Corp., 0.57%, Jan 03, 2019 2,000 2,000 11,472 11,472 Banker’s Acceptance 30.7% 280 Bank of Montreal, 0.52%, Jan 10, 2019 280 280 180 Bank of Montreal, 0.53%, Jan 10, 2019 180 180 1,200 Bank of Montreal, 0.81%, Jan 14, 2019 1,199 1,199 900 Bank of Montreal, 1.23%, Jan 18, 2019 899 899 150 Canadian Imperial Bank of Commerce, 0.18%, Jan 18, 2019 150 150 2,000 National Bank of Canada, 1.77%, Jan 18, 2019 1,998 1,998 330 Royal Bank of Canada, 0.39%, Jan 07, 2019 330 330 900 Royal Bank of Canada, 1.23%, Jan 18, 2019 899 899 1,000 Royal Bank of Canada, 1.58%, Jan 21, 2019 999 999 1,200 The Bank of Nova Scotia, 0.91%, Jan 17, 2019 1,199 1,199 350 The Toronto-Dominion Bank, 0.16%, Jan 07, 2019 350 350 800 The Toronto-Dominion Bank, 0.49%, Jan 09, 2019 799 799

The accompanying notes are an integral part of the financial statements.

5 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MONEY MARKET POOLED MANULIFE ASSET MANAGEMENT MONEY MARKET POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 160 The Toronto-Dominion Bank, 350 Royal Bank of Canada, 0.76%, Jan 18, 2019 160 160 2.42%, Aug 01, 2019 350 350 1,100 The Toronto-Dominion Bank, 215 Royal Bank of Canada, 1.21%, Jan 18, 2019 1,099 1,099 2.43%, Nov 05, 2019 215 215 200 The Bank of Nova Scotia, 10,541 10,541 2.37%, Mar 22, 2019 200 200 Provincial Bonds 16.0% 900 The Bank of Nova Scotia, 2,500 Province of Manitoba, 2.37%, Jun 14, 2019 900 901 1.51%, Feb 20, 2019 2,493 2,493 3,000 Province of Nova Scotia, 3,405 3,406 1.04%, Jan 17, 2019 2,998 2,998 Total investments 34,287 34,288 5,491 5,491 Other assets less liabilities 0.0% 16 Treasury Bills 9.9% Net assets attributable to 3,100 Province of Alberta, unitholders 100.0% 34,304 0.72%, Jan 15, 2019 3,098 3,098 280 Province of Manitoba, CONCENTRATION RISK 0.21%, Jan 09, 2019 280 280 The following table summarizes the Fund’s concentration risk.

3,378 3,378 % of net assets attributable to unitholders 30,882 30,882 Portfolio by category December 31, 2018 December 31, 2017 BONDS 10.0% Short-Term Investments Canada 10.0% Commercial Paper 33.4 36.1 Corporate Bonds 10.0% Banker’s Acceptance 30.7 10.6 590 Canadian Imperial Bank of Commerce, Provincial Bonds 16.0 - 2.43%, May 08, 2019 590 590 Treasury Bills 9.9 18.4 200 Canadian Imperial Bank of Commerce, Bonds 2.43%, Jun 07, 2019 200 200 Canada 720 National Bank of Canada, Corporate Bonds 10.0 34.8 2.39%, Jun 11, 2019 720 720 Other assets less liabilities - 0.1 120 Royal Bank of Canada, 100.0 100.0 2.40%, Apr 09, 2019 120 120 110 Royal Bank of Canada, 2.37%, Jun 19, 2019 110 110

The accompanying notes are an integral part of the financial statements.

6 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US MONEY MARKET POOLED FUND MANULIFE ASSET MANAGEMENT US MONEY MARKET POOLED FUND

Assets Income Current assets Interest for distribution purposes 5 2 Investments, at fair value 260 249 52 Cash 4 8 Expenses Interest, dividends and other receivables 1 - Audit fees 7 3 265 257 Transfer agent fees 4 2 Unitholder reporting costs 2 1 Liabilities Custodial fees 1 1 Current liabilities Accrued expenses and other liabilities 7 4 14 7 Less operating expenses absorbed by manager (14) (7) 74 Net operating expenses - - Net assets attributable to unitholders 258 253 Increase (decrease) in net assets attributable Net assets attributable to unitholders per unit to unitholders 52 10.00 10.00 Increase (decrease) in net assets attributable to unitholders per unit 0.19 0.08

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts) (In USD)

Net assets attributable to unitholders - beginning of year 253 251 Increase (decrease) in net assets attributable to unitholders 52 Distribution to unitholders from: Net investment income (5) (2)

Total distributions to unitholders (5) (2)

Security transactions Reinvestments of distributions to unitholders 5 2

Total security transactions 5 2

Net assets attributable to unitholders - end of year 258 253

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 25 25 Units issued 1 - Units issued for reinvestment of distributions - - Units redeemed - -

Units outstanding end of year 26 25

The accompanying notes are an integral part of the financial statements.

7 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US MONEY MARKET POOLED FUND MANULIFE ASSET MANAGEMENT US MONEY MARKET POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) (In USD) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME (USD) (’000) (USD) (’000)

Cash flows from operating activities SHORT-TERM INVESTMENTS 100.8% Increase (decrease) in net assets attributable to Federal Bonds 100.8% unitholders 5 2 USD 260 Federal Home Loan Bank Discount Notes, Adjustments for: 1.68%, Jan 28, 2019 260 260 Purchases of investments (2,565) (834) Total investments 260 260 Proceeds from disposition of investments 2,554 835 Receivable from Manager - 6 Other assets less liabilities (0.8%) (2) Interest, dividends and other receivables (1) - Net assets attributable to Accrued expenses and other liabilities 3 (2) unitholders 100.0% 258 Net cash provided by (used in) operating activities (4) 7 CONCENTRATION RISK The following table summarizes the Fund’s concentration risk. Net increase (decrease) in cash (4) 7 Cash (bank overdraft) beginning of year 8 1 % of net assets attributable to unitholders Cash (bank overdraft) end of year 48Portfolio by category December 31, 2018 December 31, 2017 Supplemental information on cash flows from operating activities: Short-Term Investments Interest received, net of foreign withholding taxes 5 2 Federal Bonds 100.8 98.4 Other assets less liabilities (0.8) 1.6 100.0 100.0

The accompanying notes are an integral part of the financial statements.

8 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 35,154 35,513 Investments, at fair value 1,106,496 1,127,098 Other income (loss) - 15 Cash 739 1,055 Realized gain (loss) on sales of investments (6,577) (2,924) Subscriptions receivable 141 645 Change in unrealized appreciation (depreciation) in Receivable from investments sold 613 - the value of investments (13,566) (2,277) Interest, dividends and other receivables 5,890 6,234 15,011 30,327 1,113,879 1,135,032 Expenses Audit fees 5 12 Liabilities Transfer agent fees 12 14 Current liabilities Unitholder reporting costs 51 38 Redemptions payable 1,003 208 Custodial fees 76 106 Payable on investments purchased 704 1,499 Accrued expenses and other liabilities 35 56 144 170 Distribution payable to unitholders 1,388 1,419 Less operating expenses absorbed by manager - (2) 3,130 3,182 Net operating expenses 144 168 Increase (decrease) in net assets attributable Net assets attributable to unitholders 1,110,749 1,131,850 to unitholders 14,867 30,159 Net assets attributable to unitholders per unit Increase (decrease) in net assets attributable to unitholders per unit 10.70 10.89 0.14 0.29

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 1,131,850 1,198,448 Increase (decrease) in net assets attributable to unitholders 14,867 30,159 Distribution to unitholders from: Net investment income (35,001) (35,379)

Total distributions to unitholders (35,001) (35,379)

Security transactions Proceeds from units issued 100,140 136,604 Reinvestments of distributions to unitholders 29,682 29,881 Redemption of units (130,789) (227,863)

Total security transactions (967) (61,378)

Net assets attributable to unitholders - end of year 1,110,749 1,131,850

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 103,953 109,407 Units issued 9,304 12,437 Units issued for reinvestment of distributions 2,766 2,732 Units redeemed (12,200) (20,623)

Units outstanding end of year 103,823 103,953

The accompanying notes are an integral part of the financial statements.

9 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 99.5% Increase (decrease) in net assets attributable to Canada 99.0% unitholders 14,867 30,159 Federal Bonds 33.0% Adjustments for: 375 Canada Housing Trust No. 1, Realized gain (loss) on sales of investments 6,577 2,924 3.75%, Mar 15, 2020 408 383 Change in unrealized appreciation (depreciation) in 4,980 Canada Housing Trust No. 1, the value of investments 13,566 2,277 1.20%, Jun 15, 2020 4,976 4,929 Purchases of investments (556,754) (710,509) 910 Canada Housing Trust No. 1, Proceeds from disposition of investments 555,805 771,082 1.45%, Jun 15, 2020 910 904 Interest, dividends and other receivables 344 504 8,645 Canada Housing Trust No. 1, Accrued expenses and other liabilities (21) 13 1.25%, Dec 15, 2020 8,630 8,526 2,923 Canada Housing Trust No. 1, Net cash provided by (used in) operating 3.35%, Dec 15, 2020 3,081 2,999 activities 34,384 96,450 8,130 Canada Housing Trust No. 1, Cash flows from financing activities 1.25%, Jun 15, 2021 8,178 7,977 Distributions paid to unitholders, net of reinvested 3,586 Canada Housing Trust No. 1, distributions (5,350) (5,514) 3.80%, Jun 15, 2021 3,934 3,736 Proceeds from sale of units 100,644 138,299 4,120 Canada Housing Trust No. 1, Payments for units redeemed (129,994) (228,236) 1.15%, Dec 15, 2021 4,112 4,008 Net cash provided by (used in) financing 4,290 Canada Housing Trust No. 1, activities (34,700) (95,451) 1.50%, Dec 15, 2021 4,287 4,216 2,497 Canada Housing Trust No. 1, Net increase (decrease) in cash (316) 999 2.65%, Mar 15, 2022 2,554 2,536 Cash (bank overdraft) beginning of year 1,055 56 5,429 Canada Housing Trust No. 1, Cash (bank overdraft) end of year 739 1,055 1.75%, Jun 15, 2022 5,416 5,352 12,968 Canada Housing Trust No. 1, Supplemental information on cash flows from operating activities: 2.40%, Dec 15, 2022 13,113 13,052 Interest received, net of foreign withholding taxes 35,498 36,017 7,200 Canada Housing Trust No. 1, 2.35%, Jun 15, 2023 7,200 7,224 3,204 Canada Housing Trust No. 1, 2.35%, Sep 15, 2023 3,103 3,213 1,570 Canada Housing Trust No. 1, 3.15%, Sep 15, 2023 1,744 1,630 4,000 Canada Housing Trust No. 1, 2.55%, Dec 15, 2023 4,016 4,044 6,575 Canada Housing Trust No. 1, 2.90%, Jun 15, 2024 6,638 6,763 4,310 Canada Housing Trust No. 1, 2.55%, Mar 15, 2025 4,439 4,354 1,074 Canada Housing Trust No. 1, 1.95%, Dec 15, 2025 1,101 1,043 2,697 Canada Housing Trust No. 1, 2.25%, Dec 15, 2025 2,725 2,670 4,320 Canada Housing Trust No. 1, 1.90%, Sep 15, 2026 4,232 4,156 1,780 Canada Housing Trust No. 1, 2.35%, Jun 15, 2027 1,757 1,764 4,810 Canada Housing Trust No. 1, 2.65%, Mar 15, 2028 4,776 4,867 3,340 Canada Housing Trust No. 1, 2.65%, Dec 15, 2028 3,303 3,378 5,390 Canadian Government Bond, 1.25%, Feb 01, 2020 5,338 5,358 13,415 Canadian Government Bond, 1.50%, Mar 01, 2020 13,705 13,365

The accompanying notes are an integral part of the financial statements.

10 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 7,000 Canadian Government Bond, 9,028 Canadian Government Bond, 1.75%, May 01, 2020 6,991 6,993 3.50%, Dec 01, 2045 11,895 11,422 7,194 Canadian Government Bond, 7,520 Canadian Government Bond, 3.50%, Jun 01, 2020 8,117 7,360 2.75%, Dec 01, 2048 8,116 8,457 4,250 Canadian Government Bond, 2,620 Canadian Government Bond, 1.75%, Aug 01, 2020 4,225 4,243 2.00%, Dec 01, 2051 2,425 2,507 13,748 Canadian Government Bond, 3,055 Canadian Government Bond, 0.75%, Sep 01, 2020 13,571 13,503 2.75%, Dec 01, 2064 3,580 3,587 3,520 Canadian Government Bond, 1,000 CPPIB Capital, Inc., 2.00%, Nov 01, 2020 3,522 3,529 1.40%, Jun 04, 2020 998 991 2,300 Canadian Government Bond, 3,730 CPPIB Capital, Inc., 2.25%, Feb 01, 2021 2,317 2,318 3.00%, Jun 15, 2028 3,730 3,786 12,055 Canadian Government Bond, 590 Export Development Canada, 0.75%, Mar 01, 2021 12,068 11,772 1.80%, Sep 01, 2022 589 583 7,290 Canadian Government Bond, 371,289 366,121 3.25%, Jun 01, 2021 8,048 7,527 8,850 Canadian Government Bond, Provincial Bonds 32.9% 0.75%, Sep 01, 2021 8,623 8,595 1,587 Financement-Québec, 11,490 Canadian Government Bond, 5.25%, Jun 01, 2034 1,870 1,984 0.50%, Mar 01, 2022 11,034 11,008 2,100 Labrador-Island Link Funding Trust, 7,847 Canadian Government Bond, 3.85%, Dec 01, 2053 2,148 2,447 2.75%, Jun 01, 2022 8,444 8,073 1,500 Maritime Link Financing Trust, 11,315 Canadian Government Bond, 3.50%, Dec 01, 2052 1,495 1,569 1.00%, Sep 01, 2022 10,968 10,961 1,970 Province of Alberta, 8,990 Canadian Government Bond, 1.25%, Jun 01, 2020 1,956 1,949 1.75%, Mar 01, 2023 8,862 8,941 1,428 Province of Alberta, 7,857 Canadian Government Bond, 1.35%, Sep 01, 2021 1,406 1,396 1.50%, Jun 01, 2023 7,744 7,730 560 Province of Alberta, 2,279 Canadian Government Bond, 1.60%, Sep 01, 2022 559 545 8.00%, Jun 01, 2023 3,410 2,865 385 Province of Alberta, 3,155 Canadian Government Bond, 2.55%, Dec 15, 2022 382 387 2.00%, Sep 01, 2023 3,147 3,171 900 Province of Alberta, 3,830 Canadian Government Bond, 2.65%, Sep 01, 2023 900 906 2.25%, Mar 01, 2024 3,835 3,896 20 Province of Alberta, 7,842 Canadian Government Bond, 3.10%, Jun 01, 2024 21 21 2.50%, Jun 01, 2024 8,283 8,083 2,418 Province of Alberta, 7,024 Canadian Government Bond, 2.35%, Jun 01, 2025 2,407 2,371 2.25%, Jun 01, 2025 7,231 7,166 2,745 Province of Alberta, 4,272 Canadian Government Bond, 2.20%, Jun 01, 2026 2,745 2,641 9.00%, Jun 01, 2025 7,085 6,090 2,190 Province of Alberta, 7,775 Canadian Government Bond, 2.55%, Jun 01, 2027 2,156 2,142 1.50%, Jun 01, 2026 7,690 7,544 1,350 Province of Alberta, 7,358 Canadian Government Bond, 2.90%, Dec 01, 2028 1,337 1,349 1.00%, Jun 01, 2027 6,632 6,821 1,057 Province of Alberta, 1,327 Canadian Government Bond, 2.90%, Sep 20, 2029 964 1,047 8.00%, Jun 01, 2027 2,199 1,947 1,150 Province of Alberta, 6,680 Canadian Government Bond, 3.50%, Jun 01, 2031 1,164 1,204 2.00%, Jun 01, 2028 6,523 6,701 1,150 Province of Alberta, 1,500 Canadian Government Bond, 3.90%, Dec 01, 2033 1,323 1,250 2.25%, Jun 01, 2029 1,499 1,538 300 Province of Alberta, 6,455 Canadian Government Bond, 4.50%, Dec 01, 2040 334 358 5.75%, Jun 01, 2029 9,438 8,722 1,533 Province of Alberta, 7,037 Canadian Government Bond, 3.45%, Dec 01, 2043 1,451 1,573 5.75%, Jun 01, 2033 10,524 10,248 3,510 Province of Alberta, 8,519 Canadian Government Bond, 3.30%, Dec 01, 2046 3,585 3,508 5.00%, Jun 01, 2037 11,757 12,202 4,530 Province of Alberta, 9,695 Canadian Government Bond, 3.05%, Dec 01, 2048 4,447 4,332 4.00%, Jun 01, 2041 12,493 12,794

The accompanying notes are an integral part of the financial statements.

11 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 850 Province of Alberta, 1,290 Province of Manitoba, 3.10%, Jun 01, 2050 835 822 2.55%, Jun 02, 2026 1,312 1,271 2,297 Province of British Columbia, 885 Province of Manitoba, 3.70%, Dec 18, 2020 2,481 2,369 2.60%, Jun 02, 2027 870 869 76 Province of British Columbia, 1,200 Province of Manitoba, 9.95%, May 15, 2021 112 90 3.00%, Jun 02, 2028 1,190 1,210 237 Province of British Columbia, 110 Province of Manitoba, 4.80%, Jun 15, 2021 251 252 3.25%, Sep 05, 2029 117 112 778 Province of British Columbia, 707 Province of Manitoba, 3.25%, Dec 18, 2021 823 801 6.30%, Mar 05, 2031 972 938 1,945 Province of British Columbia, 723 Province of Manitoba, 2.70%, Dec 18, 2022 2,010 1,973 5.70%, Mar 05, 2037 899 960 630 Province of British Columbia, 815 Province of Manitoba, 8.00%, Sep 08, 2023 905 783 4.60%, Mar 05, 2038 885 965 1,060 Province of British Columbia, 450 Province of Manitoba, 3.30%, Dec 18, 2023 1,092 1,103 4.65%, Mar 05, 2040 578 540 581 Province of British Columbia, 768 Province of Manitoba, 2.85%, Jun 18, 2025 599 592 4.10%, Mar 05, 2041 799 858 1,780 Province of British Columbia, 1,229 Province of Manitoba, 2.30%, Jun 18, 2026 1,752 1,742 4.05%, Sep 05, 2045 1,311 1,378 740 Province of British Columbia, 969 Province of Manitoba, 2.55%, Jun 18, 2027 734 732 2.85%, Sep 05, 2046 901 881 1,120 Province of British Columbia, 1,160 Province of Manitoba, 2.95%, Dec 18, 2028 1,129 1,142 3.40%, Sep 05, 2048 1,178 1,173 2,185 Province of British Columbia, 1,470 Province of Manitoba, 5.70%, Jun 18, 2029 2,771 2,753 3.20%, Mar 05, 2050 1,454 1,433 1,363 Province of British Columbia, 270 Province of Manitoba, 6.35%, Jun 18, 2031 1,899 1,858 3.15%, Sep 05, 2052 259 259 163 Province of British Columbia, 3,245 Province of New Brunswick, 5.40%, Jun 18, 2035 214 213 4.50%, Jun 02, 2020 3,459 3,355 931 Province of British Columbia, 1,465 Province of New Brunswick, 4.70%, Jun 18, 2037 1,120 1,148 3.35%, Dec 03, 2021 1,570 1,509 1,210 Province of British Columbia, 1,305 Province of New Brunswick, 4.95%, Jun 18, 2040 1,428 1,567 2.85%, Jun 02, 2023 1,297 1,324 2,260 Province of British Columbia, 425 Province of New Brunswick, 4.30%, Jun 18, 2042 2,544 2,716 3.65%, Jun 03, 2024 437 447 2,507 Province of British Columbia, 500 Province of New Brunswick, 3.20%, Jun 18, 2044 2,411 2,557 2.60%, Aug 14, 2026 500 493 3,362 Province of British Columbia, 280 Province of New Brunswick, 2.80%, Jun 18, 2048 3,253 3,187 2.35%, Aug 14, 2027 271 268 1,160 Province of British Columbia, 220 Province of New Brunswick, 2.95%, Jun 18, 2050 1,128 1,135 3.10%, Aug 14, 2028 219 223 1,257 Province of Manitoba, 213 Province of New Brunswick, 4.15%, Jun 03, 2020 1,349 1,294 5.65%, Dec 27, 2028 247 261 400 Province of Manitoba, 775 Province of New Brunswick, 1.60%, Sep 05, 2020 399 397 5.50%, Jan 27, 2034 951 980 720 Province of Manitoba, 634 Province of New Brunswick, 1.55%, Sep 05, 2021 718 708 4.65%, Sep 26, 2035 666 740 548 Province of Manitoba, 145 Province of New Brunswick, 3.85%, Dec 01, 2021 602 572 4.55%, Mar 26, 2037 158 168 1,158 Province of Manitoba, 860 Province of New Brunswick, 2.55%, Jun 02, 2023 1,163 1,162 4.80%, Sep 26, 2039 1,006 1,040 300 Province of Manitoba, 327 Province of New Brunswick, 3.30%, Jun 02, 2024 314 311 4.80%, Jun 03, 2041 358 398 1,500 Province of Manitoba, 463 Province of New Brunswick, 2.45%, Jun 02, 2025 1,476 1,481 3.55%, Jun 03, 2043 425 473 537 Province of Manitoba, 595 Province of New Brunswick, 7.75%, Dec 22, 2025 806 706 3.80%, Aug 14, 2045 645 635

The accompanying notes are an integral part of the financial statements.

12 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 895 Province of New Brunswick, 1,082 Province of Ontario, 3.10%, Aug 14, 2048 874 844 9.50%, Jul 13, 2022 1,650 1,340 89 Province of Newfoundland and Labrador, 10,625 Province of Ontario, 10.95%, Apr 15, 2021 136 106 2.85%, Jun 02, 2023 10,955 10,799 600 Province of Newfoundland and Labrador, 5,465 Province of Ontario, 1.95%, Jun 02, 2022 598 591 2.60%, Sep 08, 2023 5,450 5,496 1,000 Province of Newfoundland and Labrador, 724 Province of Ontario, 2.30%, Jun 02, 2025 975 974 7.50%, Feb 07, 2024 1,014 893 110 Province of Newfoundland and Labrador, 7,132 Province of Ontario, 8.45%, Feb 05, 2026 152 149 3.50%, Jun 02, 2024 7,683 7,474 715 Province of Newfoundland and Labrador, 500 Province of Ontario, 6.15%, Apr 17, 2028 901 894 2.65%, Feb 05, 2025 499 502 400 Province of Newfoundland and Labrador, 8,921 Province of Ontario, 2.85%, Jun 02, 2028 396 396 2.60%, Jun 02, 2025 9,075 8,905 275 Province of Newfoundland and Labrador, 1,582 Province of Ontario, 6.55%, Oct 17, 2030 360 366 8.50%, Dec 02, 2025 2,483 2,152 129 Province of Newfoundland and Labrador, 4,665 Province of Ontario, 5.60%, Oct 17, 2033 160 163 2.40%, Jun 02, 2026 4,652 4,568 340 Province of Newfoundland and Labrador, 154 Province of Ontario, 5.70%, Oct 17, 2035 385 441 8.00%, Dec 02, 2026 226 211 432 Province of Newfoundland and Labrador, 6,850 Province of Ontario, 4.65%, Oct 17, 2040 461 511 2.60%, Jun 02, 2027 6,769 6,757 895 Province of Newfoundland and Labrador, 2,140 Province of Ontario, 3.30%, Oct 17, 2046 855 865 7.60%, Jun 02, 2027 3,126 2,911 640 Province of Newfoundland and Labrador, 5,010 Province of Ontario, 3.70%, Oct 17, 2048 665 667 2.90%, Jun 02, 2028 4,958 5,043 1,461 Province of Nova Scotia, 3,622 Province of Ontario, 4.10%, Jun 01, 2021 1,601 1,527 6.50%, Mar 08, 2029 4,786 4,762 160 Province of Nova Scotia, 2,012 Province of Ontario, 4.45%, Oct 24, 2021 161 169 6.20%, Jun 02, 2031 2,761 2,688 590 Province of Nova Scotia, 2,244 Province of Ontario, 2.10%, Jun 01, 2027 576 560 5.85%, Mar 08, 2033 2,974 2,964 189 Province of Nova Scotia, 3,728 Province of Ontario, 6.60%, Jun 01, 2027 239 243 5.60%, Jun 02, 2035 5,015 4,910 125 Province of Nova Scotia, 5,061 Province of Ontario, 6.60%, Dec 01, 2031 187 173 4.70%, Jun 02, 2037 6,184 6,151 410 Province of Nova Scotia, 3,490 Province of Ontario, 5.80%, Jun 01, 2033 491 538 4.60%, Jun 02, 2039 4,007 4,237 326 Province of Nova Scotia, 5,685 Province of Ontario, 4.90%, Jun 01, 2035 365 399 4.65%, Jun 02, 2041 6,868 7,001 362 Province of Nova Scotia, 6,840 Province of Ontario, 4.50%, Jun 01, 2037 384 428 3.50%, Jun 02, 2043 6,916 7,181 483 Province of Nova Scotia, 7,610 Province of Ontario, 4.70%, Jun 01, 2041 562 596 3.45%, Jun 02, 2045 7,468 7,942 450 Province of Nova Scotia, 9,687 Province of Ontario, 4.40%, Jun 01, 2042 545 536 2.90%, Dec 02, 2046 9,481 9,142 148 Province of Nova Scotia, 7,650 Province of Ontario, 3.45%, Jun 01, 2045 151 153 2.80%, Jun 02, 2048 7,263 7,090 1,120 Province of Nova Scotia, 6,900 Province of Ontario, 3.50%, Jun 02, 2062 1,061 1,190 2.90%, Jun 02, 2049 6,580 6,536 9,001 Province of Ontario, 150 Province of Prince Edward Island, 4.20%, Jun 02, 2020 9,636 9,271 2.35%, Aug 25, 2025 150 145 6,016 Province of Ontario, 39 Province of Prince Edward Island, 4.00%, Jun 02, 2021 6,593 6,273 6.10%, Jul 29, 2027 48 48 3,780 Province of Ontario, 356 Province of Prince Edward Island, 1.35%, Mar 08, 2022 3,710 3,672 5.70%, Jun 15, 2035 451 458 8,168 Province of Ontario, 542 Province of Prince Edward Island, 3.15%, Jun 02, 2022 8,600 8,386 4.65%, Nov 19, 2037 577 633

The accompanying notes are an integral part of the financial statements.

13 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 53 Province of Prince Edward Island, 680 Province of Saskatchewan, 4.60%, May 19, 2041 56 62 2.65%, Jun 02, 2027 678 672 185 Province of Prince Edward Island, 560 Province of Saskatchewan, 3.65%, Jun 27, 2042 176 190 3.05%, Dec 02, 2028 557 568 4,905 Province of Quebec, 452 Province of Saskatchewan, 4.50%, Dec 01, 2020 5,357 5,128 5.75%, Mar 05, 2029 542 563 3,859 Province of Quebec, 194 Province of Saskatchewan, 4.25%, Dec 01, 2021 4,518 4,079 6.40%, Sep 05, 2031 248 263 520 Province of Quebec, 335 Province of Saskatchewan, 1.65%, Mar 03, 2022 519 511 5.80%, Sep 05, 2033 451 440 5,586 Province of Quebec, 270 Province of Saskatchewan, 3.50%, Dec 01, 2022 5,957 5,825 5.60%, Sep 05, 2035 366 354 1,960 Province of Quebec, 585 Province of Saskatchewan, 9.38%, Jan 16, 2023 2,994 2,482 4.75%, Jun 01, 2040 688 720 500 Province of Quebec, 891 Province of Saskatchewan, 2.45%, Mar 01, 2023 501 503 3.40%, Feb 03, 2042 810 911 5,372 Province of Quebec, 1,153 Province of Saskatchewan, 3.00%, Sep 01, 2023 5,610 5,505 3.90%, Jun 02, 2045 1,367 1,280 3,268 Province of Quebec, 1,398 Province of Saskatchewan, 3.75%, Sep 01, 2024 3,680 3,478 2.75%, Dec 02, 2046 1,314 1,264 1,051 Province of Quebec, 1,600 Province of Saskatchewan, 5.35%, Jun 01, 2025 1,306 1,216 3.30%, Jun 02, 2048 1,617 1,614 340 Province of Quebec, 450 Province of Saskatchewan, 2.60%, Jul 06, 2025 339 341 3.10%, Jun 02, 2050 444 438 3,450 Province of Quebec, 660 Province of Saskatchewan, 2.75%, Sep 01, 2025 3,527 3,481 2.95%, Jun 02, 2058 635 618 2,822 Province of Quebec, 367,909 365,295 8.50%, Apr 01, 2026 4,284 3,887 3,920 Province of Quebec, Corporate Bonds 31.0% 2.50%, Sep 01, 2026 3,969 3,873 490 407 International, Inc., 4,160 Province of Quebec, 2.47%, Sep 08, 2022 490 482 2.75%, Sep 01, 2027 4,206 4,166 1,185 407 International, Inc., 3,560 Province of Quebec, 6.47%, Jul 27, 2029 1,555 1,522 2.75%, Sep 01, 2028 3,510 3,555 220 407 International, Inc., 1,432 Province of Quebec, 3.43%, Jun 01, 2033 220 219 6.00%, Oct 01, 2029 1,864 1,845 430 407 International, Inc., 2,379 Province of Quebec, 5.75%, Feb 14, 2036 524 533 6.25%, Jun 01, 2032 3,203 3,241 83 407 International, Inc., 2,035 Province of Quebec, 6.75%, Jul 27, 2039 98 108 5.75%, Dec 01, 2036 2,667 2,776 609 407 International, Inc., 3,100 Province of Quebec, 4.45%, Nov 15, 2041 628 669 5.00%, Dec 01, 2038 3,837 3,963 250 407 International, Inc., 5,937 Province of Quebec, 3.65%, Sep 08, 2044 250 245 5.00%, Dec 01, 2041 7,101 7,733 67 407 International, Inc., 4,718 Province of Quebec, 3.30%, Mar 27, 2045 67 62 4.25%, Dec 01, 2043 5,289 5,612 260 407 International, Inc., 6,569 Province of Quebec, 3.83%, May 11, 2046 261 262 3.50%, Dec 01, 2045 6,885 6,984 360 407 International, Inc., 7,632 Province of Quebec, 3.60%, May 21, 2047 360 349 3.50%, Dec 01, 2048 8,353 8,173 360 407 International, Inc., 1,000 Province of Saskatchewan, 3.72%, May 11, 2048 360 356 3.90%, Jul 28, 2020 1,037 1,029 375 407 International, Inc., 230 Province of Saskatchewan, 3.98%, Sep 11, 2052 330 382 9.60%, Feb 04, 2022 341 279 357 Aéroports de Montréal, 645 Province of Saskatchewan, 6.95%, Apr 16, 2032 438 455 3.20%, Jun 03, 2024 656 666 372 Aéroports de Montréal, 690 Province of Saskatchewan, 6.55%, Oct 11, 2033 471 504 2.55%, Jun 02, 2026 699 681

The accompanying notes are an integral part of the financial statements.

14 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 143 Aéroports de Montréal, 910 AltaLink Investments LP, 5.17%, Sep 17, 2035 154 173 3.27%, Jun 05, 2020 929 917 113 Aéroports de Montréal, 1,086 AltaLink LP, 5.67%, Oct 16, 2037 137 147 2.98%, Nov 28, 2022 1,115 1,096 335 Aéroports de Montréal, 1,000 AltaLink LP, 5.47%, Apr 16, 2040 354 428 3.67%, Nov 06, 2023 1,106 1,040 333 Aéroports de Montréal, 300 AltaLink LP, 3.92%, Jun 12, 2045 333 351 3.40%, Jun 06, 2024 300 308 200 Aéroports de Montréal, 475 AltaLink LP, 3.36%, Apr 24, 2047 200 192 2.75%, May 29, 2026 475 468 140 AIMCo Realty Investors LP, 29 AltaLink LP, 2.27%, Jun 26, 2024 140 135 5.38%, Mar 26, 2040 32 36 260 AIMCo Realty Investors LP, 32 AltaLink LP, 3.37%, Jun 01, 2027 260 263 4.87%, Nov 15, 2040 33 37 100 AIMCo Realty Investors LP, 59 AltaLink LP, 3.04%, Jun 01, 2028 100 98 4.46%, Nov 08, 2041 57 65 350 Alberta Capital Finance Authority, 700 AltaLink LP, 4.45%, Dec 15, 2025 357 385 3.99%, Jun 30, 2042 747 725 150 Alectra, Inc., 45 AltaLink LP, 3.24%, Nov 21, 2024 150 153 4.92%, Sep 17, 2043 47 53 200 Alectra, Inc., 250 AltaLink LP, 2.49%, May 17, 2027 200 192 4.05%, Nov 21, 2044 250 262 32 Alectra, Inc., 333 AltaLink LP, 5.30%, Apr 29, 2041 35 39 4.09%, Jun 30, 2045 333 350 275 Alectra, Inc., 120 AltaLink LP, 3.96%, Jul 30, 2042 271 283 3.72%, Dec 03, 2046 120 119 200 Algonquin Power Co., 160 Arrow Lakes Power Corp., 4.65%, Feb 15, 2022 214 207 5.52%, Apr 05, 2041 178 190 130 Algonquin Power Co., 260 Atco Ltd., 4.09%, Feb 17, 2027 130 130 5.50%, Nov 01, 2078 260 260 699 Alimentation Couche-Tard, Inc., 1,344 Bank of Montreal, 3.90%, Nov 01, 2022 705 713 2.84%, Jun 04, 2020 1,388 1,350 460 Alimentation Couche-Tard, Inc., 1,750 Bank of Montreal, 3.06%, Jul 26, 2024 460 445 2.10%, Oct 06, 2020 1,750 1,735 750 Alimentation Couche-Tard, Inc., 1,030 Bank of Montreal, 3.60%, Jun 02, 2025 752 740 1.88%, Mar 31, 2021 1,030 1,012 113 Alliance Pipeline LP, 1,375 Bank of Montreal, 7.18%, Jun 30, 2023 122 126 3.40%, Apr 23, 2021 1,396 1,396 12 Alliance Pipeline LP, 780 Bank of Montreal, 5.55%, Dec 31, 2023 13 12 1.61%, Oct 28, 2021 775 756 45 Alliance Pipeline LP, 1,500 Bank of Montreal, 6.77%, Dec 31, 2025 52 51 2.12%, Mar 16, 2022 1,499 1,469 160 Alliance Pipeline LP, 770 Bank of Montreal, 7.22%, Dec 31, 2025 187 185 2.27%, Jul 11, 2022 770 755 220 AltaGas Canada, Inc., 750 Bank of Montreal, 4.26%, Dec 05, 2028 220 224 2.89%, Jun 20, 2023 750 750 525 AltaGas Ltd., 1,110 Bank of Montreal, 3.72%, Sep 28, 2021 535 528 2.70%, Sep 11, 2024 1,110 1,094 21 AltaGas Ltd., 561 Bank of Montreal, 3.57%, Jun 12, 2023 20 21 4.61%, Sep 10, 2025 581 615 590 AltaGas Ltd., 800 Bank of Montreal, 3.84%, Jan 15, 2025 601 582 3.32%, Jun 01, 2026 814 803 80 AltaGas Ltd., 530 Bank of Montreal, 3.98%, Oct 04, 2027 80 77 2.70%, Dec 09, 2026 530 515 300 AltaGas Ltd., 2,300 Bank of Montreal, 4.50%, Aug 15, 2044 297 254 3.19%, Mar 01, 2028 2,288 2,303 220 AltaGas Ltd., 750 Bank of Montreal, FRN 4.99%, Oct 04, 2047 220 200 3.34%, Dec 08, 2025 761 754

The accompanying notes are an integral part of the financial statements.

15 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 750 Bank of Montreal, FRN 472 British Columbia Ferry Services, Inc., 2.57%, Jun 01, 2027 736 730 6.25%, Oct 13, 2034 620 622 500 bcIMC Realty Corp., 42 British Columbia Ferry Services, Inc., 2.10%, Jun 03, 2021 500 493 5.02%, Mar 20, 2037 40 50 714 bcIMC Realty Corp., 214 British Columbia Ferry Services, Inc., 3.51%, Jun 29, 2022 728 731 5.58%, Jan 11, 2038 257 271 500 bcIMC Realty Corp., 200 British Columbia Ferry Services, Inc., 2.84%, Jun 03, 2025 500 495 4.29%, Apr 28, 2044 200 222 460 bcIMC Realty Corp., 53 Broadcast Centre Trust, 3.00%, Mar 31, 2027 460 455 7.53%, May 01, 2027 67 63 2,457 Bell Canada, Inc., 1,040 Brookfield Asset Management, Inc., 4.95%, May 19, 2021 2,611 2,567 3.80%, Mar 16, 2027 1,040 1,003 1,470 Bell Canada, Inc., 800 Brookfield Asset Management, Inc., 2.00%, Oct 01, 2021 1,467 1,430 5.95%, Jun 14, 2035 919 885 200 Bell Canada, Inc., 500 Brookfield Infrastructure Finance ULC, 3.00%, Oct 03, 2022 202 198 3.45%, Mar 11, 2022 500 500 1 Bell Canada, Inc., 760 Brookfield Infrastructure Finance ULC, 3.35%, Mar 22, 2023 1 1 3.32%, Feb 22, 2024 763 743 735 Bell Canada, Inc., 520 Brookfield Infrastructure Finance ULC, 4.70%, Sep 11, 2023 802 774 4.19%, Sep 11, 2028 520 515 495 Bell Canada, Inc., 120 Brookfield Property Finance ULC, 3.35%, Mar 12, 2025 494 489 4.12%, Oct 19, 2021 120 121 650 Bell Canada, Inc., 500 Brookfield Property Finance ULC, 3.55%, Mar 02, 2026 648 646 4.35%, Jul 03, 2023 500 502 220 Bell Canada, Inc., 45 Brookfield Renewable Kwagis Holding, 7.00%, Sep 24, 2027 270 269 Inc., 420 Bell Canada, Inc., 4.45%, Dec 31, 2053 49 47 3.60%, Sep 29, 2027 419 413 604 Brookfield Renewable Partners ULC, 680 Bell Canada, Inc., 5.14%, Oct 13, 2020 632 625 3.80%, Aug 21, 2028 679 674 372 Brookfield Renewable Partners ULC, 350 Bell Canada, Inc., 4.79%, Feb 07, 2022 402 386 6.55%, May 01, 2029 414 422 100 Brookfield Renewable Partners ULC, 555 Bell Canada, Inc., 3.75%, Jun 02, 2025 100 99 7.30%, Feb 23, 2032 693 711 750 Brookfield Renewable Partners ULC, 420 Bell Canada, Inc., 3.63%, Jan 15, 2027 750 720 6.17%, Feb 26, 2037 521 499 440 Brookfield Renewable Partners ULC, 420 Bell Canada, Inc., 4.25%, Jan 15, 2029 440 432 4.75%, Sep 29, 2044 413 420 29 Brookfield Renewable Partners ULC, 350 Bell Canada, Inc., 5.84%, Nov 05, 2036 28 32 4.35%, Dec 18, 2045 352 328 480 Bruce Power LP, 1,130 Bell Canada, Inc., 2.84%, Jun 23, 2021 480 478 2.70%, Feb 27, 2047 1,129 1,091 550 Bruce Power LP, 310 Bell Canada, Inc., 4.01%, Jun 21, 2029 550 552 4.45%, Feb 27, 2047 308 295 750 Bruce Power LP, 250 BMW Canada, Inc., 4.13%, Jun 21, 2033 750 732 1.88%, Dec 11, 2020 250 246 156 Cadillac Fairview Finance Trust, 150 BMW Canada, Inc., 4.31%, Jan 25, 2021 168 162 1.83%, Jun 15, 2021 150 146 1,050 Caisse centrale Desjardins, 29 Borealis Infrastructure Trust, 1.75%, Mar 02, 2020 1,046 1,041 6.35%, Dec 01, 2020 32 30 200 Cameco Corp., 56 Bow Centre Street LP, 4.19%, Jun 24, 2024 200 200 3.69%, Jun 14, 2021 54 56 29 Cameco Corp., 28 Bow Centre Street LP, 5.09%, Nov 14, 2042 27 26 3.69%, Jun 14, 2022 27 27 20 Canada Life Capital Trust, 90 Bow Centre Street LP, 7.53%, Jun 30, 2052 27 27 3.80%, Jun 13, 2023 87 88 323 Canada Post Corp., 160 Bridging North America GP, 4.08%, Jul 16, 2025 332 356 4.34%, Aug 31, 2053 166 174

The accompanying notes are an integral part of the financial statements.

16 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 536 Canada Post Corp., 520 Canadian Western Bank, 4.36%, Jul 16, 2040 551 668 2.88%, Mar 01, 2021 520 518 850 Canadian Imperial Bank of Commerce, 150 Canadian Western Bank, 1.85%, Jul 14, 2020 848 841 2.79%, Sep 13, 2021 150 148 490 Canadian Imperial Bank of Commerce, 375 Canadian Western Bank, 1.90%, Apr 26, 2021 490 481 2.74%, Jun 16, 2022 375 369 1,200 Canadian Imperial Bank of Commerce, 120 Canadian Western Bank, 1.64%, Jul 12, 2021 1,202 1,168 2.92%, Dec 15, 2022 120 118 630 Canadian Imperial Bank of Commerce, 588 Capital Desjardins, Inc., 2.90%, Sep 14, 2021 630 632 5.19%, May 05, 2020 620 607 650 Canadian Imperial Bank of Commerce, 445 Capital Desjardins, Inc., 2.04%, Mar 21, 2022 650 635 4.95%, Dec 15, 2026 507 469 1,330 Canadian Imperial Bank of Commerce, 1,325 CARDS II Trust, 2.30%, Jul 11, 2022 1,330 1,305 2.16%, Oct 15, 2020 1,327 1,314 740 Canadian Imperial Bank of Commerce, 100 Caterpillar Financial Services Ltd., 2.47%, Dec 05, 2022 740 728 2.80%, Jun 08, 2021 100 100 870 Canadian Imperial Bank of Commerce, 200 CDP Financial, Inc., 2.97%, Jul 11, 2023 870 872 4.60%, Jul 15, 2020 218 207 1,490 Canadian Imperial Bank of Commerce, 700 Central 1 Credit Union, 3.30%, May 26, 2025 1,490 1,511 1.87%, Mar 16, 2020 700 693 900 Canadian Imperial Bank of Commerce, 860 Central 1 Credit Union, FRN 2.60%, Nov 07, 2022 860 842 3.42%, Jan 26, 2026 919 905 365 Central 1 Credit Union, FRN 1,020 Canadian Imperial Bank of Commerce, 3.06%, Oct 14, 2026 365 360 FRN 260 Chartwell Retirement Residences, 3.45%, Apr 04, 2028 1,020 1,009 3.79%, Dec 11, 2023 260 260 1,350 Canadian National Railway Co., 500 Choice Properties LP, 2.80%, Sep 22, 2025 1,349 1,348 3.60%, Apr 20, 2020 511 504 450 Canadian National Railway Co., 100 Choice Properties REIT, 3.20%, Jul 31, 2028 448 454 2.30%, Sep 14, 2020 100 99 300 Canadian National Railway Co., 220 Choice Properties REIT, 3.60%, Aug 01, 2047 298 292 3.01%, Mar 21, 2022 220 218 260 Canadian National Railway Co., 250 Choice Properties REIT, 3.60%, Jul 31, 2048 256 253 3.20%, Mar 07, 2023 250 246 1,250 Canadian Natural Resources Ltd., 427 Choice Properties REIT, 2.05%, Jun 01, 2020 1,250 1,233 4.90%, Jul 05, 2023 449 448 980 Canadian Natural Resources Ltd., 820 Choice Properties REIT, 3.31%, Feb 11, 2022 980 979 4.29%, Feb 08, 2024 818 839 1,000 Canadian Natural Resources Ltd., 550 Choice Properties REIT, 3.55%, Jun 03, 2024 1,010 992 3.56%, Sep 09, 2024 550 542 500 Canadian Natural Resources Ltd., 1,020 Choice Properties REIT, 3.42%, Dec 01, 2026 500 480 4.18%, Mar 08, 2028 1,020 1,011 230 Canadian Natural Resources Ltd., 50 Choice Properties REIT, 4.85%, May 30, 2047 230 228 5.27%, Mar 07, 2046 50 53 366 Canadian Pacific Railway Co., 620 CI Financial Corp., 6.45%, Nov 17, 2039 423 487 3.52%, Jul 20, 2023 620 617 500 Canadian Tire Corp., Ltd., 216 CIBC Capital Trust, 3.17%, Jul 06, 2023 500 495 10.25%, Jun 30, 2108 322 262 393 Canadian Tire Corp., Ltd., 1,399 CIBC Capital Trust, FRN 6.45%, Feb 24, 2034 436 468 9.98%, Jun 30, 2108 1,806 1,447 250 Canadian Tire Corp., Ltd., 520 Clover LP, 5.61%, Sep 04, 2035 303 276 4.22%, Jun 30, 2034 520 542 165 Canadian Utilities Ltd., 120 Cogeco Communications, Inc., 3.12%, Nov 09, 2022 178 167 4.18%, May 26, 2023 121 122 200 Canadian Western Bank, 41 Co-operators Financial Services Ltd., 2.38%, Jan 23, 2020 200 199 5.78%, Mar 10, 2020 44 42 420 Canadian Western Bank, 610 Cordelio Amalco GP I, 2.75%, Jun 29, 2020 420 419 4.09%, Sep 30, 2034 610 623

The accompanying notes are an integral part of the financial statements.

17 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 100 CT REIT, 120 Eagle Credit Card Trust, 2.16%, Jun 01, 2021 100 98 3.04%, Jul 17, 2023 120 120 370 CT REIT, 38 Edmonton Regional Airports Authority, 3.29%, Jun 01, 2026 370 353 7.21%, Nov 01, 2030 46 47 45 CT REIT, 39 Enbridge Gas Distribution, Inc., 3.47%, Jun 16, 2027 45 43 4.04%, Nov 23, 2020 41 40 530 CU, Inc., 573 Enbridge Gas Distribution, Inc., 9.40%, May 01, 2023 773 667 4.77%, Dec 17, 2021 624 606 600 CU, Inc., 67 Enbridge Gas Distribution, Inc., 5.56%, May 26, 2028 722 712 6.05%, Jul 05, 2023 79 75 92 CU, Inc., 120 Enbridge Gas Distribution, Inc., 5.18%, Nov 21, 2035 100 109 6.90%, Nov 15, 2032 167 161 163 CU, Inc., 400 Enbridge Gas Distribution, Inc., 5.56%, Oct 30, 2037 206 202 4.00%, Aug 22, 2044 383 407 567 CU, Inc., 280 Enbridge Gas Distribution, Inc., 5.58%, May 26, 2038 612 704 3.51%, Nov 29, 2047 280 263 58 CU, Inc., 500 Enbridge Gas Distribution, Inc., 6.50%, Mar 07, 2039 75 79 4.95%, Nov 22, 2050 542 589 500 CU, Inc., 440 Enbridge Pipelines, Inc., 3.81%, Sep 10, 2042 486 498 3.79%, Aug 17, 2023 441 452 75 CU, Inc., 405 Enbridge Pipelines, Inc., 4.72%, Sep 09, 2043 77 86 6.35%, Nov 17, 2023 502 459 550 CU, Inc., 1,300 Enbridge Pipelines, Inc., 4.09%, Sep 02, 2044 552 573 3.45%, Sep 29, 2025 1,295 1,303 200 CU, Inc., 60 Enbridge Pipelines, Inc., 3.96%, Jul 27, 2045 200 205 3.00%, Aug 10, 2026 60 58 530 CU, Inc., 149 Enbridge Pipelines, Inc., 3.76%, Nov 19, 2046 530 524 6.55%, Nov 17, 2027 185 178 520 CU, Inc., 44 Enbridge Pipelines, Inc., 3.55%, Nov 22, 2047 520 494 5.08%, Dec 19, 2036 47 47 520 CU, Inc., 238 Enbridge Pipelines, Inc., 3.95%, Nov 23, 2048 520 530 5.35%, Nov 10, 2039 250 264 35 CU, Inc., 210 Enbridge Pipelines, Inc., 4.95%, Nov 18, 2050 37 42 4.13%, Aug 09, 2046 210 197 370 CU, Inc., 1,949 Enbridge, Inc., 3.86%, Nov 14, 2052 375 365 4.53%, Mar 09, 2020 2,128 1,987 38 CU, Inc., 300 Enbridge, Inc., 4.59%, Oct 24, 2061 38 43 3.16%, Mar 11, 2021 300 301 41 CU, Inc., 711 Enbridge, Inc., 3.83%, Sep 11, 2062 35 40 4.85%, Feb 22, 2022 746 745 330 Daimler Canada Finance, Inc., 73 Enbridge, Inc., 1.57%, May 25, 2020 330 324 3.19%, Dec 05, 2022 72 73 500 Daimler Canada Finance, Inc., 800 Enbridge, Inc., 1.91%, Jul 08, 2021 500 487 3.94%, Jan 13, 2023 820 818 150 Daimler Canada Finance, Inc., 564 Enbridge, Inc., 2.23%, Dec 16, 2021 150 147 3.94%, Jun 30, 2023 580 577 220 Daimler Canada Finance, Inc., 540 Enbridge, Inc., 3.05%, May 16, 2022 220 220 3.20%, Jun 08, 2027 540 514 90 Daimler Canada Finance, Inc., 250 Enbridge, Inc., 3.30%, Aug 16, 2022 90 90 7.20%, Jun 18, 2032 326 317 250 Daimler Canada Finance, Inc., 335 Enbridge, Inc., 2.57%, Nov 22, 2022 250 244 5.75%, Sep 02, 2039 338 372 430 Dollarama, Inc., 350 Enbridge, Inc., 2.34%, Jul 22, 2021 430 421 5.12%, Sep 28, 2040 380 359 320 Dollarama, Inc., 378 Enbridge, Inc., 2.20%, Nov 10, 2022 320 306 4.24%, Aug 27, 2042 371 345 150 Dollarama, Inc., 560 Enbridge, Inc., 3.55%, Nov 06, 2023 149 150 4.57%, Mar 11, 2044 570 540

The accompanying notes are an integral part of the financial statements.

18 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 250 Enbridge, Inc., 150 Finning International, Inc., 4.87%, Nov 21, 2044 252 249 2.84%, Sep 29, 2021 150 150 660 Enbridge, Inc., FRN 158 Finning International, Inc., 5.38%, Sep 27, 2077 660 610 5.08%, Jun 13, 2042 164 178 300 Enbridge, Inc., FRN 761 First Capital Realty, Inc., 6.63%, Apr 12, 2078 300 302 5.60%, Apr 30, 2020 806 788 130 Enercare Solutions, Inc., 740 First Capital Realty, Inc., 3.99%, Feb 21, 2024 130 129 4.50%, Mar 01, 2021 757 761 1,469 Énergir, Inc., 232 First Capital Realty, Inc., 5.45%, Jul 12, 2021 1,667 1,571 3.95%, Dec 05, 2022 229 235 5 Énergir, Inc., 236 First Capital Realty, Inc., 7.05%, Oct 30, 2030 6 7 3.90%, Oct 30, 2023 234 238 205 Énergir, Inc., 40 First Capital Realty, Inc., 6.30%, Oct 31, 2033 235 267 3.60%, May 06, 2026 40 39 30 Énergir, Inc., 160 First Capital Realty, Inc., 3.28%, Oct 09, 2046 30 28 3.75%, Jul 12, 2027 160 155 170 Énergir, Inc., 250 First Nations Finance Authority, 3.53%, May 16, 2047 170 164 3.40%, Jun 26, 2024 264 258 250 ENMAX Corp., 1,505 Ford Credit Canada Co., 3.81%, Dec 05, 2024 250 258 2.45%, May 07, 2020 1,490 1,482 250 ENMAX Corp., 510 Ford Credit Canada Co., 3.84%, Jun 05, 2028 250 255 2.58%, May 10, 2021 510 492 448 EPCOR Utilities, Inc., 400 Ford Credit Canada Co., 6.80%, Jun 28, 2029 568 584 3.28%, Jul 02, 2021 400 391 76 EPCOR Utilities, Inc., 260 Ford Credit Canada Co., 5.65%, Nov 16, 2035 85 94 2.71%, Feb 23, 2022 260 247 158 EPCOR Utilities, Inc., 770 Ford Credit Canada Co., 6.65%, Apr 15, 2038 191 220 2.77%, Jun 22, 2022 770 726 414 EPCOR Utilities, Inc., 280 Ford Credit Canada Co., 5.75%, Nov 24, 2039 465 531 3.35%, Sep 19, 2022 280 266 290 EPCOR Utilities, Inc., 700 Ford Credit Canada Co., 3.55%, Nov 27, 2047 290 279 3.74%, May 08, 2023 703 669 420 Fair Hydro Trust, 620 Fortified Trust, 3.36%, May 15, 2033 420 426 2.16%, Oct 23, 2020 620 615 73 Fairfax Financial Holdings Ltd., 980 Fortified Trust, 5.84%, Oct 14, 2022 75 79 1.67%, Jul 23, 2021 980 954 270 Fairfax Financial Holdings Ltd., 250 Fortis, Inc., 4.50%, Mar 22, 2023 268 279 2.85%, Dec 12, 2023 250 247 225 Fairfax Financial Holdings Ltd., 390 Fortis, Inc., 4.95%, Mar 03, 2025 223 236 6.51%, Jul 04, 2039 488 506 460 Fairfax Financial Holdings Ltd., 50 FortisAlberta, Inc., 4.70%, Dec 16, 2026 458 471 3.30%, Sep 30, 2024 50 51 610 Fairfax Financial Holdings Ltd., 204 FortisAlberta, Inc., 4.25%, Dec 06, 2027 610 598 6.22%, Oct 31, 2034 263 264 16 Farm Credit Canada, 22 FortisAlberta, Inc., 4.55%, Apr 12, 2021 18 17 5.85%, Apr 15, 2038 26 28 860 Fédération des caisses Desjardins du 30 FortisAlberta, Inc., Québec, 7.06%, Feb 14, 2039 41 44 2.09%, Jan 17, 2022 860 842 578 FortisAlberta, Inc., 490 Fédération des caisses Desjardins du 5.37%, Oct 30, 2039 647 707 Québec, 37 FortisAlberta, Inc., 2.39%, Aug 25, 2022 490 482 4.54%, Oct 18, 2041 37 41 700 Fédération des caisses Desjardins du 200 FortisAlberta, Inc., Québec, 4.11%, Sep 29, 2044 200 210 3.06%, Sep 11, 2023 700 703 80 FortisAlberta, Inc., 87 Fifth Avenue LP, 3.34%, Sep 21, 2046 80 74 4.71%, Aug 05, 2021 90 89 38 FortisAlberta, Inc., 4.99%, Jan 03, 2047 40 46

The accompanying notes are an integral part of the financial statements.

19 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 80 FortisAlberta, Inc., 1,000 Greater Toronto Airports Authority, 3.67%, Sep 09, 2047 80 78 3.04%, Sep 21, 2022 1,070 1,014 230 FortisAlberta, Inc., 330 Greater Toronto Airports Authority, 3.73%, Sep 18, 2048 230 227 6.45%, Dec 03, 2027 424 419 29 FortisAlberta, Inc., 242 Greater Toronto Airports Authority, 4.80%, Oct 27, 2050 30 34 6.45%, Jul 30, 2029 260 288 440 FortisBC Energy, Inc., 414 Greater Toronto Airports Authority, 6.50%, May 01, 2034 495 583 7.05%, Jun 12, 2030 519 563 328 FortisBC Energy, Inc., 941 Greater Toronto Airports Authority, 5.90%, Feb 26, 2035 342 416 7.10%, Jun 04, 2031 1,182 1,298 435 FortisBC Energy, Inc., 321 Greater Toronto Airports Authority, 6.00%, Oct 02, 2037 548 567 6.47%, Feb 02, 2034 409 432 31 FortisBC Energy, Inc., 580 Greater Toronto Airports Authority, 6.05%, Feb 15, 2038 37 41 3.26%, Jun 01, 2037 580 562 52 FortisBC Energy, Inc., 85 Greater Toronto Airports Authority, 5.80%, May 13, 2038 61 66 5.63%, Jun 07, 2040 98 111 86 FortisBC Energy, Inc., 500 Greater Toronto Airports Authority, 6.55%, Feb 24, 2039 110 119 4.53%, Dec 02, 2041 558 576 32 FortisBC Energy, Inc., 100 Great-West Lifeco, Inc., 5.20%, Dec 06, 2040 35 39 6.74%, Nov 24, 2031 117 131 267 FortisBC Energy, Inc., 497 Great-West Lifeco, Inc., 3.38%, Apr 13, 2045 267 250 6.67%, Mar 21, 2033 577 649 290 FortisBC Energy, Inc., 323 Great-West Lifeco, Inc., 3.69%, Oct 30, 2047 301 286 6.00%, Nov 16, 2039 359 414 130 FortisBC Energy, Inc., 80 H&R REIT, 3.85%, Dec 07, 2048 130 132 3.42%, Jan 23, 2023 80 79 44 FortisBC, Inc., 500 H&R REIT, 5.60%, Nov 09, 2035 50 54 3.37%, Jan 30, 2024 504 486 99 FortisBC, Inc., 61 Halifax International Airport Authority, 6.10%, Jun 02, 2039 130 130 4.89%, Nov 15, 2050 64 76 400 FortisBC, Inc., 1,263 Health Montreal Collective LP, 4.00%, Oct 28, 2044 396 409 6.72%, Sep 30, 2049 1,434 1,624 48 FortisBC, Inc., 490 Hollis Receivables Term Trust II, 5.00%, Nov 24, 2050 51 58 1.79%, Feb 26, 2020 490 486 644 GE Capital Canada Funding Co., 250 Honda Canada Finance, Inc., 4.60%, Jan 26, 2022 680 648 1.82%, Dec 07, 2021 250 242 500 General Motors Financial of Canada Ltd., 850 Honda Canada Finance, Inc., 3.08%, May 22, 2020 492 499 2.27%, Jul 15, 2022 850 829 310 General Motors Financial of Canada Ltd., 230 Honda Canada Finance, Inc., 3.00%, Feb 26, 2021 310 307 3.18%, Aug 28, 2023 230 231 820 General Motors Financial of Canada Ltd., 250 Honda Canada Finance, Inc., 2.60%, Jun 01, 2022 819 787 3.44%, May 23, 2025 250 252 500 Genesis Trust II, 424 Hospital Infrastructure Partners NOH 1.70%, Apr 15, 2020 500 495 Partnership, 250 George Weston Ltd., 5.44%, Jan 31, 2045 474 499 4.12%, Jun 17, 2024 250 254 1,883 HSBC Bank Canada, 94 George Weston Ltd., 2.94%, Jan 14, 2020 1,888 1,890 7.10%, Feb 05, 2032 101 116 1,000 HSBC Bank Canada, 500 Glacier Credit Card Trust, 1.82%, Jul 07, 2020 1,000 987 2.24%, Sep 20, 2020 500 496 250 HSBC Bank Canada, 310 Glacier Credit Card Trust, 2.45%, Jan 29, 2021 249 248 2.05%, Sep 20, 2022 310 300 750 HSBC Bank Canada, 220 Glacier Credit Card Trust, 2.91%, Sep 29, 2021 750 750 3.14%, Sep 20, 2023 220 221 260 HSBC Bank Canada, 135 Grand Renewable Solar LP, 2.17%, Jun 29, 2022 260 253 3.93%, Jan 31, 2035 134 135 470 HSBC Bank Canada, 1,000 Greater Toronto Airports Authority, 2.54%, Jan 31, 2023 470 460 1.51%, Feb 16, 2021 972 979

The accompanying notes are an integral part of the financial statements.

20 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 500 HSBC Bank Canada, 463 IGM Financial, Inc., 3.25%, Sep 15, 2023 500 502 7.45%, May 09, 2031 599 606 1,914 Husky Energy, Inc., 50 IGM Financial, Inc., 5.00%, Mar 12, 2020 2,143 1,960 7.11%, Mar 07, 2033 62 65 400 Husky Energy, Inc., 44 IGM Financial, Inc., 3.55%, Mar 12, 2025 399 394 6.00%, Dec 10, 2040 49 54 500 Husky Energy, Inc., 120 IGM Financial, Inc., 3.60%, Mar 10, 2027 499 481 4.56%, Jan 25, 2047 120 123 175 Hydro One, Inc., 140 IGM Financial, Inc., 1.62%, Apr 30, 2020 175 173 4.12%, Dec 09, 2047 140 133 400 Hydro One, Inc., 300 IGM Financial, Inc., 4.40%, Jun 01, 2020 443 410 4.17%, Jul 13, 2048 300 289 1,750 Hydro One, Inc., 250 Industrial Alliance Insurance & Financial 1.84%, Feb 24, 2021 1,737 1,720 Services, Inc., 350 Hydro One, Inc., 3.30%, Sep 15, 2028 250 251 2.57%, Jun 25, 2021 350 349 350 Industrial Alliance Insurance & Financial 1,000 Hydro One, Inc., Services, Inc., FRN 3.20%, Jan 13, 2022 1,070 1,011 2.64%, Feb 23, 2027 350 345 500 Hydro One, Inc., 61 Intact Financial Corp., 2.77%, Feb 24, 2026 519 487 4.70%, Aug 18, 2021 65 64 400 Hydro One, Inc., 390 Intact Financial Corp., 6.93%, Jun 01, 2032 549 532 2.85%, Jun 07, 2027 390 372 21 Hydro One, Inc., 184 Intact Financial Corp., 6.35%, Jan 31, 2034 29 27 6.40%, Nov 23, 2039 225 243 509 Hydro One, Inc., 225 Intact Financial Corp., 4.89%, Mar 13, 2037 557 577 5.16%, Jun 16, 2042 252 257 306 Hydro One, Inc., 196 Integrated Team Solutions PCH 4.39%, Sep 26, 2041 298 329 Partnership, 600 Hydro One, Inc., 4.88%, May 31, 2046 219 224 4.59%, Oct 09, 2043 641 665 33 Integrated Team Solutions SJHC 250 Hydro One, Inc., Partnership, 4.17%, Jun 06, 2044 254 261 5.95%, Nov 30, 2042 37 40 159 Hydro One, Inc., 108 Inter Pipeline Ltd., 3.91%, Feb 23, 2046 160 159 3.78%, May 30, 2022 106 109 429 Hydro One, Inc., 250 Inter Pipeline Ltd., 5.00%, Oct 19, 2046 510 510 2.61%, Sep 13, 2023 250 240 330 Hydro One, Inc., 130 Inter Pipeline Ltd., 3.72%, Nov 18, 2047 330 320 2.73%, Apr 18, 2024 130 124 570 Hydro One, Inc., 100 Inter Pipeline Ltd., 3.63%, Jun 25, 2049 570 542 3.17%, Mar 24, 2025 100 96 250 Hydro One, Inc., 1,000 Inter Pipeline Ltd., 3.79%, Jul 31, 2062 264 239 3.48%, Dec 16, 2026 1,013 963 2,225 Hydro-Québec, 245 Inter Pipeline Ltd., 11.00%, Aug 15, 2020 3,459 2,540 4.64%, May 30, 2044 249 232 562 Hydro-Québec, 81 Investors Group, Inc., 9.63%, Jul 15, 2022 836 701 7.00%, Dec 31, 2032 99 104 165 Hydro-Québec, 500 Ivanhoe Cambridge II, Inc., 6.50%, Jan 16, 2035 255 234 2.91%, Jun 27, 2023 500 500 1,366 Hydro-Québec, 330 John Deere Canada Funding, Inc., 6.50%, Feb 15, 2035 1,945 1,952 1.60%, Jul 13, 2020 330 325 1,140 Hydro-Québec, 250 John Deere Canada Funding, Inc., 5.00%, Feb 15, 2045 1,225 1,510 2.05%, May 13, 2022 250 244 1,200 Hydro-Québec, 250 John Deere Canada Funding, Inc., 5.00%, Feb 15, 2050 1,536 1,641 2.63%, Sep 21, 2022 250 248 1,470 Hydro-Québec, 140 John Deere Canada Funding, Inc., 4.00%, Feb 15, 2055 1,724 1,749 3.02%, Jul 13, 2023 140 140 200 IGM Financial, Inc., 100 John Deere Financial, Inc., 3.44%, Jan 26, 2027 200 198 3.07%, Jul 23, 2021 100 101

The accompanying notes are an integral part of the financial statements.

21 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 430 Keyera Corp., 300 Metro, Inc., 3.93%, Jun 21, 2028 430 424 5.03%, Dec 01, 2044 300 313 635 Kingston Solar LP, 250 Metro, Inc., 3.57%, Jul 31, 2035 635 619 4.27%, Dec 04, 2047 250 233 300 Laurentian Bank of Canada, 21 Milit-Air, Inc., 2.50%, Jan 23, 2020 300 299 5.75%, Jun 30, 2019 23 22 1,125 Laurentian Bank of Canada, 70 Morguard Corp., 2.75%, Apr 22, 2021 1,123 1,112 4.09%, May 14, 2021 70 70 250 Laurentian Bank of Canada, 755 Muskrat Falls / Labrador Transmission 3.00%, Sep 12, 2022 250 245 Assets Funding Trust, 320 Laurentian Bank of Canada, 3.63%, Jun 01, 2029 797 822 3.45%, Jun 27, 2023 320 317 1,040 Muskrat Falls / Labrador Transmission 678 Loblaw Cos., Ltd., Assets Funding Trust, 5.22%, Jun 18, 2020 751 701 3.86%, Dec 01, 2048 1,074 1,218 455 Loblaw Cos., Ltd., 320 National Bank of Canada, 4.86%, Sep 12, 2023 471 481 1.74%, Mar 03, 2020 320 317 100 Loblaw Cos., Ltd., 650 National Bank of Canada, 3.92%, Jun 10, 2024 100 102 1.81%, Jul 26, 2021 650 635 331 Loblaw Cos., Ltd., 750 National Bank of Canada, 6.45%, Feb 09, 2028 365 389 2.11%, Mar 18, 2022 750 733 100 Loblaw Cos., Ltd., 960 National Bank of Canada, 4.49%, Dec 11, 2028 100 103 1.96%, Jun 30, 2022 949 931 243 Loblaw Cos., Ltd., 550 National Bank of Canada, FRN 6.85%, Mar 01, 2032 302 297 3.18%, Feb 01, 2028 550 537 120 Loblaw Cos., Ltd., 54 NAV CANADA, 6.15%, Jan 29, 2035 123 140 7.56%, Mar 01, 2027 68 64 296 Loblaw Cos., Ltd., 201 NAV CANADA, 5.90%, Jan 18, 2036 333 337 7.40%, Jun 01, 2027 271 266 375 Lower Mattagami Energy LP, 390 NAV CANADA, 4.33%, May 18, 2021 424 389 3.53%, Feb 23, 2046 390 396 250 Lower Mattagami Energy LP, 210 NAV CANADA, 3.42%, Jun 20, 2024 250 257 3.29%, Mar 30, 2048 210 203 410 Lower Mattagami Energy LP, 404 NBC Asset Trust, 5.14%, May 18, 2041 488 496 7.45%, Dec 31, 2049 492 429 345 Lower Mattagami Energy LP, 30 Newfoundland and Labrador Hydro, 4.18%, Feb 23, 2046 387 368 6.65%, Aug 27, 2031 32 40 24 Lower Mattagami Energy LP, 250 Newfoundland and Labrador Hydro, 4.18%, Apr 23, 2052 22 25 3.60%, Dec 01, 2045 237 253 400 Magna International, Inc., 105 Newfoundland Power, Inc., 3.10%, Dec 15, 2022 420 399 9.00%, Oct 01, 2020 133 116 250 Manitoba Telecom Services, Inc., 180 Nissan Canada Financial Services, Inc., 4.00%, May 27, 2024 250 256 1.75%, Apr 09, 2020 180 178 250 Manulife Bank of Canada, 620 Nissan Canada Financial Services, Inc., 1.92%, Sep 01, 2021 250 244 2.42%, Oct 19, 2020 620 613 600 Manulife Bank of Canada, 120 Nissan Canada Financial Services, Inc., 2.08%, May 26, 2022 600 583 2.61%, Mar 05, 2021 120 119 190 Manulife Bank of Canada, 520 Nissan Canada Financial Services, Inc., 2.84%, Jan 12, 2023 190 188 3.15%, Sep 14, 2021 520 520 520 Manulife Financial Corp., FRN 840 North West Redwater Partnership / NWR 3.05%, Aug 20, 2029 520 507 Financing Co., Ltd., 310 McGill University, 3.20%, Apr 24, 2026 878 828 3.98%, Jan 29, 2056 310 335 260 North West Redwater Partnership / NWR 200 Metro, Inc., Financing Co., Ltd., 3.20%, Dec 01, 2021 200 200 2.80%, Jun 01, 2027 259 246 370 Metro, Inc., 420 North West Redwater Partnership / NWR 3.39%, Dec 06, 2027 370 354 Financing Co., Ltd., 381 Metro, Inc., 4.15%, Jun 01, 2033 465 429 5.97%, Oct 15, 2035 391 442

The accompanying notes are an integral part of the financial statements.

22 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 600 North West Redwater Partnership / NWR 54 Ontario School Boards Financing Corp., Financing Co., Ltd., 5.38%, Jun 25, 2032 58 61 3.65%, Jun 01, 2035 600 575 50 OPB Finance Trust, 530 North West Redwater Partnership / NWR 1.88%, Feb 24, 2022 50 49 Financing Co., Ltd., 89 OPB Finance Trust, 4.75%, Jun 01, 2037 629 572 2.90%, May 24, 2023 85 90 740 North West Redwater Partnership / NWR 250 OPB Finance Trust, Financing Co., Ltd., 2.95%, Feb 02, 2026 250 251 4.05%, Jul 22, 2044 804 727 980 OPB Finance Trust, 52 Northwestconnect Group Partnership, 2.98%, Jan 25, 2027 979 983 5.95%, Apr 30, 2041 59 61 400 Ottawa Macdonald-Cartier International 250 Nova Scotia Power, Inc., Airport Authority, 8.85%, May 19, 2025 350 324 3.93%, Jun 09, 2045 400 411 375 Nova Scotia Power, Inc., 58 Pembina Pipeline Corp., 6.95%, Aug 25, 2033 436 507 4.89%, Mar 29, 2021 62 60 410 Nova Scotia Power, Inc., 1,155 Pembina Pipeline Corp., 5.67%, Nov 14, 2035 414 497 3.77%, Oct 24, 2022 1,164 1,169 25 Nova Scotia Power, Inc., 410 Pembina Pipeline Corp., 5.95%, Jul 27, 2039 30 32 2.99%, Jan 22, 2024 407 399 55 Nova Scotia Power, Inc., 300 Pembina Pipeline Corp., 5.61%, Jun 15, 2040 63 68 3.54%, Feb 03, 2025 300 297 63 Nova Scotia Power, Inc., 250 Pembina Pipeline Corp., 4.15%, Mar 06, 2042 57 65 3.71%, Aug 11, 2026 250 247 230 Nova Scotia Power, Inc., 400 Pembina Pipeline Corp., 4.50%, Jul 20, 2043 248 248 4.02%, Mar 27, 2028 400 398 175 Nova Scotia Power, Inc., 200 Pembina Pipeline Corp., 3.61%, May 01, 2045 175 164 4.75%, Apr 30, 2043 204 192 150 OMERS Realty Corp., 420 Pembina Pipeline Corp., 2.97%, Apr 05, 2021 150 151 4.81%, Mar 25, 2044 428 405 120 OMERS Realty Corp., 390 Pembina Pipeline Corp., 1.82%, May 09, 2022 120 116 4.74%, Jan 21, 2047 384 374 1,090 OMERS Realty Corp., 40 Plenary Health Bridgepoint LP, 3.36%, Jun 05, 2023 1,051 1,112 7.25%, Aug 31, 2042 53 55 160 OMERS Realty Corp., 459 Plenary Health Care Partnerships 2.86%, Feb 23, 2024 160 160 Humber LP, 200 OMERS Realty Corp., 4.90%, May 31, 2039 512 507 3.33%, Nov 12, 2024 200 204 455 Plenary Health Care Partnerships 430 OMERS Realty Corp., Humber LP, 3.24%, Oct 04, 2027 430 432 4.82%, Nov 30, 2044 471 525 420 OMERS Realty Corp., 530 Plenary Health Hamilton LP, 3.63%, Jun 05, 2030 420 430 5.80%, May 31, 2043 604 642 569 Ontario Electricity Financial Corp., 724 Plenary Properties LTAP LP, 8.90%, Aug 18, 2022 808 696 6.29%, Jan 31, 2044 796 932 775 Ontario Electricity Financial Corp., 130 Power Corp. of Canada, 8.50%, May 26, 2025 1,191 1,034 8.57%, Apr 22, 2039 206 198 902 Ontario Electricity Financial Corp., 190 Power Corp. of Canada, 8.25%, Jun 22, 2026 1,303 1,228 4.81%, Jan 31, 2047 190 197 500 Ontario Power Generation, Inc., 220 Power Corp. of Canada, 3.32%, Oct 04, 2027 514 498 4.46%, Jul 27, 2048 220 221 630 Ontario Power Generation, Inc., 544 Power Financial Corp., 3.84%, Jun 22, 2048 630 599 6.90%, Mar 11, 2033 609 706 143 Ontario School Boards Financing Corp., 1,570 PSP Capital, Inc., 5.80%, Nov 07, 2028 175 162 3.03%, Oct 22, 2020 1,621 1,596 56 Ontario School Boards Financing Corp., 860 PSP Capital, Inc., 5.48%, Nov 26, 2029 62 63 1.34%, Aug 18, 2021 860 841 55 Ontario School Boards Financing Corp., 770 PSP Capital, Inc., 5.07%, Apr 18, 2031 58 60 1.73%, Jun 21, 2022 770 755

The accompanying notes are an integral part of the financial statements.

23 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 860 PSP Capital, Inc., 1,430 Royal Bank of Canada, 2.09%, Nov 22, 2023 860 845 2.33%, Dec 05, 2023 1,430 1,391 120 PSP Capital, Inc., 782 Royal Bank of Canada, 3.29%, Apr 04, 2024 120 125 2.99%, Dec 06, 2024 798 784 900 PSP Capital, Inc., 900 Royal Bank of Canada, 3.00%, Nov 05, 2025 899 919 2.48%, Jun 04, 2025 899 894 100 Queen’s University, 755 Royal Bank of Canada, 6.10%, Nov 19, 2032 108 128 4.93%, Jul 16, 2025 836 840 120 Reliance LP, 575 Royal Bank of Canada, 3.84%, Mar 15, 2025 120 118 3.45%, Sep 29, 2026 585 579 630 RioCan REIT, 1,100 Royal Bank of Canada, FRN 3.62%, Jun 01, 2020 635 636 3.31%, Jan 20, 2026 1,121 1,105 250 RioCan REIT, 577 Royal Office Finance LP, 2.19%, Apr 09, 2021 250 245 5.21%, Nov 12, 2032 603 679 530 RioCan REIT, 490 Saputo, Inc., 3.72%, Dec 13, 2021 533 537 2.20%, Jun 23, 2021 490 480 200 RioCan REIT, 260 Saputo, Inc., 3.75%, May 30, 2022 200 202 1.94%, Jun 13, 2022 260 249 275 RioCan REIT, 290 Saputo, Inc., 2.83%, Oct 03, 2022 275 269 2.83%, Nov 21, 2023 290 282 30 RioCan REIT, 170 Saputo, Inc., 3.73%, Apr 18, 2023 28 30 3.60%, Aug 14, 2025 170 169 120 RioCan REIT, 645 Scotiabank Capital Trust, FRN 3.21%, Sep 29, 2023 120 118 5.65%, Dec 31, 2056 669 761 200 RioCan REIT, 1,058 Scotiabank Tier I Trust, 3.29%, Feb 12, 2024 200 196 7.80%, Jun 30, 2108 1,296 1,084 1,508 Rogers Communications, Inc., 547 Shaw Communications, Inc., 5.34%, Mar 22, 2021 1,633 1,582 5.50%, Dec 07, 2020 604 572 593 Rogers Communications, Inc., 160 Shaw Communications, Inc., 4.00%, Jun 06, 2022 592 608 3.80%, Mar 01, 2027 160 157 340 Rogers Communications, Inc., 300 Shaw Communications, Inc., 6.68%, Nov 04, 2039 368 426 4.40%, Nov 02, 2028 299 301 622 Rogers Communications, Inc., 1,177 Shaw Communications, Inc., 6.11%, Aug 25, 2040 663 734 6.75%, Nov 09, 2039 1,211 1,404 349 Rogers Communications, Inc., 100 Simon Fraser University, 6.56%, Mar 22, 2041 434 433 5.61%, Jun 10, 2043 132 131 600 Royal Bank of Canada, 440 Sinai Health System, 1.59%, Mar 23, 2020 600 595 3.53%, Jun 09, 2056 440 427 1,000 Royal Bank of Canada, 200 Smart REIT, 1.92%, Jul 17, 2020 1,000 991 3.73%, Jul 22, 2022 201 201 700 Royal Bank of Canada, 580 Smart REIT, 2.86%, Mar 04, 2021 700 703 3.99%, May 30, 2023 567 587 700 Royal Bank of Canada, 825 Smart REIT, 2.03%, Mar 15, 2021 700 690 3.56%, Feb 06, 2025 822 806 1,190 Royal Bank of Canada, 300 Smart REIT, 1.65%, Jul 15, 2021 1,192 1,159 3.44%, Aug 28, 2026 300 286 650 Royal Bank of Canada, 100 SmartCentres REIT, 1.58%, Sep 13, 2021 650 630 2.88%, Mar 21, 2022 100 98 2,000 Royal Bank of Canada, 250 SmartCentres REIT, 1.97%, Mar 02, 2022 1,968 1,951 2.99%, Aug 28, 2024 250 238 1,040 Royal Bank of Canada, 120 SmartCentres REIT, 2.00%, Mar 21, 2022 1,040 1,014 3.83%, Dec 21, 2027 120 116 1,060 Royal Bank of Canada, 215 SNC-Lavalin Group, Inc., 2.36%, Dec 05, 2022 1,060 1,040 2.69%, Nov 24, 2020 215 213 1,650 Royal Bank of Canada, 270 SNC-Lavalin Group, Inc., 2.95%, May 01, 2023 1,650 1,654 3.24%, Mar 02, 2023 270 266 1,300 Royal Bank of Canada, 636 SNC-Lavalin Innisfree McGill Finance, Inc., 3.30%, Sep 26, 2023 1,300 1,306 6.63%, Jun 30, 2044 704 815

The accompanying notes are an integral part of the financial statements.

24 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 542 South Coast British Columbia 530 TELUS Corp., Transportation Authority, 4.85%, Apr 05, 2044 529 530 3.80%, Nov 02, 2020 578 558 200 TELUS Corp., 200 South Coast British Columbia 4.75%, Jan 17, 2045 199 197 Transportation Authority, 430 TELUS Corp., 3.05%, Jun 04, 2025 199 203 4.40%, Jan 29, 2046 410 400 30 South Coast British Columbia 420 TELUS Corp., Transportation Authority, 4.70%, Mar 06, 2048 420 410 3.85%, Feb 09, 2052 27 32 458 Teranet Holdings LP, 800 SSL Finance, Inc. / SSL Financement, Inc., 5.75%, Dec 17, 2040 468 466 4.10%, Oct 31, 2045 800 834 950 The 55 Ontario School Board Trust, 260 Sun Life Capital Trust, 5.90%, Jun 02, 2033 1,274 1,227 7.09%, Jun 30, 2052 292 339 1,000 The Bank of Nova Scotia, 79 Sun Life Capital Trust II, 2.27%, Jan 13, 2020 1,000 998 5.86%, Dec 31, 2108 88 81 1,750 The Bank of Nova Scotia, 505 Sun Life Financial, Inc., 2.09%, Sep 09, 2020 1,754 1,735 4.57%, Aug 23, 2021 555 528 2,030 The Bank of Nova Scotia, 250 Sun Life Financial, Inc., 3.27%, Jan 11, 2021 2,056 2,053 2.75%, Nov 23, 2027 250 246 1,000 The Bank of Nova Scotia, 700 Sun Life Financial, Inc., 2.87%, Jun 04, 2021 1,000 1,003 3.05%, Sep 19, 2028 699 693 1,050 The Bank of Nova Scotia, 353 Sun Life Financial, Inc., 1.90%, Dec 02, 2021 1,050 1,024 5.40%, May 29, 2042 360 406 770 The Bank of Nova Scotia, 1,300 Suncor Energy, Inc., 1.83%, Apr 27, 2022 770 746 3.10%, Nov 26, 2021 1,335 1,305 1,180 The Bank of Nova Scotia, 610 Suncor Energy, Inc., 2.36%, Nov 08, 2022 1,180 1,157 3.00%, Sep 14, 2026 608 591 2,550 The Bank of Nova Scotia, 491 Suncor Energy, Inc., 2.98%, Apr 17, 2023 2,549 2,555 5.39%, Mar 26, 2037 490 561 770 The Bank of Nova Scotia, 250 Suncor Energy, Inc., 2.29%, Jun 28, 2024 770 743 4.34%, Sep 13, 2046 250 251 2,270 The Bank of Nova Scotia, 763 TD Capital Trust IV, 3.04%, Oct 18, 2024 2,291 2,275 6.63%, Jun 30, 2108 860 827 1,180 The Bank of Nova Scotia, 510 TD Capital Trust IV, 2.62%, Dec 02, 2026 1,180 1,139 9.52%, Jun 30, 2108 651 527 620 The Bank of Nova Scotia, 122 TD Capital Trust IV, 2.58%, Mar 30, 2027 606 605 10.00%, Jun 30, 2108 148 147 670 The Bank of Nova Scotia, 210 TELUS Communications, Inc., 3.10%, Feb 02, 2028 670 666 10.65%, Jun 19, 2021 283 247 250 The Empire Life Insurance Co., 142 TELUS Communications, Inc., 3.38%, Dec 16, 2026 250 250 9.65%, Apr 08, 2022 200 169 500 The Manufacturers Life Insurance Co., 1,582 TELUS Corp., 2.64%, Jan 15, 2025 500 500 5.05%, Jul 23, 2020 1,675 1,636 500 The Manufacturers Life Insurance Co., 480 TELUS Corp., 2.39%, Jan 05, 2026 500 495 2.35%, Mar 28, 2022 479 469 500 The Manufacturers Life Insurance Co., 594 TELUS Corp., 3.18%, Nov 22, 2027 500 502 3.35%, Apr 01, 2024 583 591 500 The Toronto-Dominion Bank, 860 TELUS Corp., 1.69%, Apr 02, 2020 500 495 3.75%, Jan 17, 2025 858 869 840 The Toronto-Dominion Bank, 200 TELUS Corp., 2.56%, Jun 24, 2020 839 840 3.75%, Mar 10, 2026 201 201 1,330 The Toronto-Dominion Bank, 90 TELUS Corp., 2.05%, Mar 08, 2021 1,320 1,313 3.63%, Mar 01, 2028 89 88 1,750 The Toronto-Dominion Bank, 439 TELUS Corp., 1.68%, Jun 08, 2021 1,753 1,714 4.40%, Apr 01, 2043 410 411 1,396 The Toronto-Dominion Bank, 370 TELUS Corp., 2.62%, Dec 22, 2021 1,415 1,391 5.15%, Nov 26, 2043 376 385 3,130 The Toronto-Dominion Bank, 1.99%, Mar 23, 2022 3,111 3,055

The accompanying notes are an integral part of the financial statements.

25 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 300 The Toronto-Dominion Bank, 70 TransCanada PipeLines Ltd., 3.01%, May 30, 2023 300 302 7.90%, Apr 15, 2027 94 90 2,110 The Toronto-Dominion Bank, 450 TransCanada PipeLines Ltd., 3.23%, Jul 24, 2024 2,148 2,140 3.39%, Mar 15, 2028 450 437 39 The Toronto-Dominion Bank, 185 TransCanada PipeLines Ltd., 9.15%, May 26, 2025 57 52 6.28%, May 26, 2028 211 218 780 The Toronto-Dominion Bank, 542 TransCanada PipeLines Ltd., 3.59%, Sep 14, 2028 780 777 6.89%, Aug 07, 2028 685 667 815 The Toronto-Dominion Bank, 384 TransCanada PipeLines Ltd., 4.86%, Mar 04, 2031 899 865 8.05%, Feb 17, 2039 536 546 1,480 The Toronto-Dominion Bank, Deposit Note 693 TransCanada PipeLines Ltd., 1.91%, Jul 18, 2023 1,485 1,419 4.55%, Nov 15, 2041 702 684 1,075 The Toronto-Dominion Bank, FRN 510 TransCanada PipeLines Ltd., 2.69%, Jun 24, 2025 1,080 1,071 4.35%, Jun 06, 2046 509 488 700 The Toronto-Dominion Bank, FRN 500 TransCanada PipeLines Ltd., 2.98%, Sep 30, 2025 708 700 4.33%, Sep 16, 2047 500 475 1,050 The Toronto-Dominion Bank, FRN 720 TransCanada PipeLines Ltd., 3.22%, Jul 25, 2029 1,050 1,022 4.18%, Jul 03, 2048 720 664 120 The University of Western Ontario, 220 Trillium Health Partners Volunteers, 3.39%, Dec 04, 2057 120 117 3.70%, Dec 20, 2058 220 219 400 Thomson Reuters Corp., 150 Union Gas Ltd., 3.31%, Nov 12, 2021 400 404 2.76%, Jun 02, 2021 150 150 610 THP Partnership, 175 Union Gas Ltd., 4.39%, Oct 31, 2046 643 657 8.65%, Nov 10, 2025 258 232 130 TMX Group Ltd., 100 Union Gas Ltd., 3.00%, Dec 11, 2024 130 128 2.81%, Jun 01, 2026 100 97 340 TMX Group Ltd., 250 Union Gas Ltd., 3.78%, Jun 05, 2028 340 344 2.88%, Nov 22, 2027 250 243 220 Toromont Industries Ltd., 517 Union Gas Ltd., 3.84%, Oct 27, 2027 220 221 6.05%, Sep 02, 2038 614 672 289 Toronto Hydro Corp., 206 Union Gas Ltd., 3.54%, Nov 18, 2021 300 296 4.88%, Jun 21, 2041 229 236 320 Toronto Hydro Corp., 500 Union Gas Ltd., 2.52%, Aug 25, 2026 320 311 4.20%, Jun 02, 2044 496 524 515 Toronto Hydro Corp., 100 Union Gas Ltd., 5.54%, May 21, 2040 646 651 3.80%, Jun 01, 2046 100 98 100 Toronto Hydro Corp., 170 Union Gas Ltd., 4.08%, Sep 16, 2044 100 106 3.59%, Nov 22, 2047 170 161 100 Toronto Hydro Corp., 19 University Health Network, 3.49%, Feb 28, 2048 100 96 5.64%, Dec 08, 2022 20 20 1,125 Toyota Credit Canada, Inc., 100 University of British Columbia, 1.80%, Feb 19, 2020 1,127 1,116 6.65%, Dec 01, 2031 124 134 100 Toyota Credit Canada, Inc., 125 University of British Columbia, 1.75%, Jul 21, 2021 100 97 4.82%, Jul 26, 2035 150 146 1,000 Toyota Credit Canada, Inc., 110 University of Guelph, 2.02%, Feb 28, 2022 1,000 974 6.24%, Oct 10, 2042 156 153 150 Toyota Credit Canada, Inc., 200 University of Ottawa, 2.62%, Oct 11, 2022 150 148 6.28%, Apr 15, 2043 264 286 165 Toyota Credit Canada, Inc., 210 University of Ottawa, 2.70%, Jan 25, 2023 165 163 3.26%, Oct 12, 2056 210 195 570 Toyota Credit Canada, Inc., 30 Vancouver Airport Authority, 3.04%, Jul 12, 2023 570 569 7.43%, Dec 07, 2026 40 40 575 TransCanada PipeLines Ltd., 300 Vancouver Airport Authority, 3.69%, Jul 19, 2023 603 587 3.86%, Nov 10, 2045 348 320 300 TransCanada PipeLines Ltd., 200 Vancouver Airport Authority, 3.30%, Jul 17, 2025 300 299 3.66%, Nov 23, 2048 200 206 570 TransCanada PipeLines Ltd., 200 Ventas Canada Finance Ltd., 8.29%, Feb 05, 2026 680 731 3.30%, Feb 01, 2022 200 200

The accompanying notes are an integral part of the financial statements.

26 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 260 Ventas Canada Finance Ltd., 440 City of Montreal, 2.55%, Mar 15, 2023 260 252 3.15%, Dec 01, 2036 433 423 200 Ventas Canada Finance Ltd., 210 City of Montreal, 4.13%, Sep 30, 2024 206 205 3.50%, Dec 01, 2038 210 211 250 Veresen, Inc., 1,051 City of Montreal, 3.43%, Nov 10, 2021 250 251 6.00%, Jun 01, 2043 1,289 1,483 500 VW Credit Canada, Inc., 41 City of Ottawa, 2.90%, Mar 29, 2021 499 497 4.60%, Jul 14, 2042 42 49 260 VW Credit Canada, Inc., 700 City of Ottawa, 3.70%, Nov 14, 2022 260 262 3.05%, Apr 23, 2046 697 650 500 VW Credit Canada, Inc., 280 City of Ottawa, 3.25%, Mar 29, 2023 499 494 3.10%, Jul 27, 2048 267 262 940 Wells Fargo Canada Corp., 580 City of Toronto, 3.04%, Jan 29, 2021 938 944 3.50%, Dec 06, 2021 605 598 30 Westcoast Energy, Inc., 275 City of Toronto, 9.90%, Jan 10, 2020 41 32 3.90%, Sep 29, 2023 276 290 1,051 Westcoast Energy, Inc., 300 City of Toronto, 4.57%, Jul 02, 2020 1,107 1,078 3.40%, May 21, 2024 299 310 332 Westcoast Energy, Inc., 300 City of Toronto, 3.88%, Oct 28, 2021 336 340 2.45%, Feb 06, 2025 300 294 90 Westcoast Energy, Inc., 310 City of Toronto, 3.12%, Dec 05, 2022 85 90 2.40%, Jun 24, 2026 310 299 150 Westcoast Energy, Inc., 310 City of Toronto, 8.85%, Jul 21, 2025 189 195 2.40%, Jun 07, 2027 309 296 288 Westcoast Energy, Inc., 200 City of Toronto, 7.15%, Mar 20, 2031 352 365 2.95%, Apr 28, 2035 199 188 240 Westcoast Energy, Inc., 180 City of Toronto, 4.79%, Oct 28, 2041 231 248 3.50%, Jun 02, 2036 179 182 214 Winnipeg Airport Authority, Inc., 1,260 City of Toronto, 5.21%, Sep 28, 2040 253 245 5.20%, Jun 01, 2040 1,420 1,593 176 Winnipeg Airport Authority, Inc., 237 City of Toronto, 6.10%, Nov 20, 2040 207 219 4.70%, Jun 10, 2041 265 282 370 Winnipeg Airport Authority, Inc., 60 City of Toronto, 3.66%, Sep 30, 2047 370 371 3.80%, Dec 13, 2042 54 63 70 York Region District School Board, 250 City of Toronto, 6.55%, Apr 12, 2023 78 81 4.15%, Mar 10, 2044 248 277 150 York University, 470 City of Toronto, 6.48%, Mar 07, 2042 171 217 3.25%, Jun 24, 2046 457 449 350 York University, 210 City of Toronto, 3.58%, May 26, 2056 350 345 3.20%, Aug 01, 2048 210 199 300 City of Vancouver, 347,363 344,671 4.50%, Jun 01, 2020 332 310 Municipal Bonds 2.1% 470 City of Vancouver, 60 City of Montreal, 3.45%, Dec 02, 2021 504 485 3.50%, Sep 01, 2023 58 62 162 City of Winnipeg, 425 City of Montreal, 4.30%, Nov 15, 2051 164 185 3.50%, Sep 01, 2024 447 441 286 Municipal Finance Authority of British 430 City of Montreal, Columbia, 2.75%, Sep 01, 2026 429 424 4.45%, Jun 01, 2020 311 295 310 City of Montreal, 450 Municipal Finance Authority of British 3.00%, Sep 01, 2027 310 310 Columbia, 390 City of Montreal, 1.65%, Apr 19, 2021 449 444 3.15%, Sep 01, 2028 388 392 811 Municipal Finance Authority of British 201 City of Montreal, Columbia, 4.25%, Dec 01, 2032 203 223 4.15%, Jun 01, 2021 890 847 484 City of Montreal, 125 Municipal Finance Authority of British 4.10%, Dec 01, 2034 505 524 Columbia, 3.35%, Jun 01, 2022 124 129

The accompanying notes are an integral part of the financial statements.

27 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN BOND INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 230 Municipal Finance Authority of British 1,198 Asian Development Bank, Columbia, 4.65%, Feb 16, 2027 1,286 1,359 2.15%, Dec 01, 2022 230 227 1,300 International Bank for Reconstruction & 1,150 Municipal Finance Authority of British Development, Columbia, 1.25%, Mar 18, 2021 1,290 1,281 3.75%, Sep 26, 2023 1,197 1,212 3,075 3,135 900 Municipal Finance Authority of British Columbia, Supranational Bonds 0.2% 2.80%, Dec 03, 2023 899 910 600 Inter-American Development Bank, 953 Municipal Finance Authority of British 1.88%, Mar 20, 2020 598 599 Columbia, 1,117 Inter-American Development Bank, 4.95%, Dec 01, 2027 1,082 1,106 4.40%, Jan 26, 2026 1,139 1,238 420 Municipal Finance Authority of British 370 International Bank for Reconstruction & Columbia, Development, 3.05%, Oct 23, 2028 420 424 2.25%, Jan 17, 2023 368 370 26 Regional Municipality of Halton, 2,105 2,207 4.05%, Oct 11, 2041 24 28 5,180 5,342 120 Regional Municipality of Peel, 2.30%, Nov 02, 2026 120 115 United States 0.0% 275 Regional Municipality of Peel, Corporate Bonds 0.0% 4.25%, Dec 02, 2033 274 305 446 Manulife Finance Delaware LP, 1,060 Regional Municipality of Peel, 5.06%, Dec 15, 2041 397 480 5.10%, Jun 29, 2040 1,148 1,329 1,115,068 1,105,496 56 Regional Municipality of Peel, SHORT-TERM INVESTMENTS 0.1% 3.85%, Oct 30, 2042 51 60 1,000 Merit Trust, 1,200 South Coast British Columbia 0.97%, Jan 02, 2019 1,000 1,000 Transportation Authority, 3.25%, Nov 23, 2028 1,198 1,223 Total investments 1,116,068 1,106,496 43 South Coast British Columbia Other assets less liabilities 0.4% 4,253 Transportation Authority, Net assets attributable to 4.65%, Jun 20, 2041 44 51 60 South Coast British Columbia unitholders 100.0% 1,110,749 Transportation Authority, CONCENTRATION RISK 4.45%, Jun 09, 2044 70 70 The following table summarizes the Fund’s concentration risk. 1,070 The Regional Municipality of York, 4.00%, Jun 30, 2021 1,137 1,115 % of net assets attributable to 133 The Regional Municipality of York, unitholders 2.60%, Dec 15, 2025 132 131 Portfolio by category December 31, 2018 December 31, 2017 120 The Regional Municipality of York, Bonds 2.50%, Jun 02, 2026 123 117 Canada 770 The Regional Municipality of York, Federal Bonds 33.0 33.8 4.00%, May 31, 2032 772 837 Provincial Bonds 32.9 32.1 387 The Regional Municipality of York, Corporate Bonds 31.0 31.1 3.65%, May 13, 2033 380 403 Municipal Bonds 2.1 2.0 400 The Regional Municipality of York, Global 4.05%, May 01, 2034 429 435 Corporate Bonds 0.3 0.3 Supranational Bonds 0.2 0.2 18 The Regional Municipality of York, Short-Term Investments 0.1 0.1 4.15%, Nov 18, 2041 17 20 Other assets less liabilities 0.4 0.4 22,930 23,587 100.0 100.0 1,109,491 1,099,674 Global 0.5% Corporate Bonds 0.3% 500 Asian Development Bank, 1.38%, Jun 11, 2020 499 495

The accompanying notes are an integral part of the financial statements.

28 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND

Assets Income Current assets Interest for distribution purposes 16,019 12,111 Investments, at fair value 502,798 528,158 Foreign exchange gain (loss) on income 1 (2) Cash 1,787 3,482 Foreign exchange gain (loss) on currency 173 11 Margin deposited on derivatives 1,256 139 Other income (loss) - 4 Subscriptions receivable 140 68 Realized gain (loss) on sales of investments (2,932) (1,640) Realized gain (loss) on derivatives (571) 96 Receivable from investments sold - 3,084 Change in unrealized appreciation (depreciation) in Interest, dividends and other receivables 2,886 2,849 the value of investments (5,763) 1,738 Derivative assets 71 344 Change in unrealized appreciation (depreciation) in 508,938 538,124 the value of derivatives (1,047) 200 Liabilities 5,880 12,518 Current liabilities Expenses Redemptions payable 217 73 Audit fees 6 7 Payable on investments purchased - 2,917 Transfer agent fees 5 3 Accrued expenses and other liabilities 27 41 Filing fees 23 1 Derivative liabilities 835 61 Interest expense & bank charges 2 3 1,079 3,092 Unitholder reporting costs 50 35 Custodial fees 50 74 Net assets attributable to unitholders 507,859 535,032 Foreign withholding taxes - 1 Net assets attributable to unitholders per unit Transaction costs - 3 10.33 10.53 136 127 Increase (decrease) in net assets attributable to unitholders 5,744 12,391 Increase (decrease) in net assets attributable to unitholders per unit 0.12 0.33

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 535,032 310,868 Increase (decrease) in net assets attributable to unitholders 5,744 12,391 Distribution to unitholders from: Net investment income (15,290) (12,010)

Total distributions to unitholders (15,290) (12,010)

Security transactions Proceeds from units issued 28,339 299,129 Reinvestments of distributions to unitholders 15,290 12,010 Redemption of units (61,256) (87,356)

Total security transactions (17,627) 223,783

Net assets attributable to unitholders - end of year 507,859 535,032

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 50,811 29,696 Units issued 2,697 28,141 Units issued for reinvestment of distributions 1,480 1,141 Units redeemed (5,823) (8,167)

Units outstanding end of year 49,165 50,811

The accompanying notes are an integral part of the financial statements.

29 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 98.9% Increase (decrease) in net assets attributable to Canada 89.5% unitholders 5,744 12,391 Corporate Bonds 41.2% Adjustments for: 487 407 International, Inc., Change in unrealized foreign exchange gain (loss) 5.75%, Feb 14, 2036 579 603 on currency (127) 71 145 407 International, Inc., Realized gain (loss) on sales of investments 2,932 1,640 4.45%, Nov 15, 2041 152 159 Realized gain (loss) on derivatives 571 (96) 273 407 International, Inc., Change in unrealized appreciation (depreciation) in 4.19%, Apr 25, 2042 274 290 the value of investments 5,763 (1,738) 975 407 International, Inc., Change in unrealized appreciation (depreciation) in 3.65%, Sep 08, 2044 958 954 the value of derivatives 1,047 (200) 530 407 International, Inc., Purchases of investments (959,748) (1,174,258) 3.72%, May 11, 2048 530 524 Proceeds from disposition of investments 976,009 953,059 183 Aéroports de Montréal, Margin on derivatives (1,117) (86) 3.92%, Sep 26, 2042 183 193 Interest, dividends and other receivables (37) (832) 230 AIMCo Realty Investors LP, Accrued expenses and other liabilities (14) 15 3.37%, Jun 01, 2027 230 233 610 Alberta Powerline LP, Net cash provided by (used in) operating 4.07%, Dec 01, 2053 610 625 activities 31,023 (210,034) 154 Alectra, Inc., Cash flows from financing activities 3.96%, Jul 30, 2042 154 159 Proceeds from sale of units 28,267 299,202 271 Alliance Pipeline LP, Payments for units redeemed (61,112) (87,415) 7.18%, Jun 30, 2023 299 301 Net cash provided by (used in) financing 870 Allied Properties REIT, activities (32,845) 211,787 3.64%, Apr 21, 2025 838 839 204 AltaGas Ltd., Change in unrealized foreign exchange gain (loss) 3.57%, Jun 12, 2023 204 201 on currency 127 (71) 1,434 AltaGas Ltd., Net increase (decrease) in cash (1,822) 1,753 4.40%, Mar 15, 2024 1,516 1,460 Cash (bank overdraft) beginning of year 3,482 1,800 1,171 AltaGas Ltd., Cash (bank overdraft) end of year 1,787 3,482 3.84%, Jan 15, 2025 1,185 1,154 260 AltaGas Ltd., Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 15,982 11,275 3.98%, Oct 04, 2027 260 251 Interest paid 2 3 196 AltaGas Ltd., 4.50%, Aug 15, 2044 196 166 310 AltaGas Ltd., 4.99%, Oct 04, 2047 310 282 1,500 AltaLink LP, 2.75%, May 29, 2026 1,507 1,477 251 AltaLink LP, 5.25%, Sep 22, 2036 276 301 485 AltaLink LP, 3.72%, Dec 03, 2046 504 480 2,753 Bank of Montreal, 2.84%, Jun 04, 2020 2,817 2,765 1,500 Bank of Montreal, 2.10%, Oct 06, 2020 1,492 1,487 500 Bank of Montreal, 1.61%, Oct 28, 2021 500 485 2,600 Bank of Montreal, 2.12%, Mar 16, 2022 2,593 2,546 1,400 Bank of Montreal, 2.27%, Jul 11, 2022 1,400 1,374 2,380 Bank of Montreal, 2.70%, Sep 11, 2024 2,369 2,345

The accompanying notes are an integral part of the financial statements.

30 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 405 Bank of Montreal, 1,496 Choice Properties LP, 3.32%, Jun 01, 2026 413 406 3.60%, Sep 20, 2022 1,539 1,505 2,500 Bell Canada, Inc., 225 Choice Properties REIT, 3.55%, Mar 02, 2026 2,517 2,483 4.90%, Jul 05, 2023 248 236 1,235 Bell Canada, Inc., 180 CT REIT, 3.80%, Aug 21, 2028 1,227 1,223 3.87%, Dec 07, 2027 180 175 272 Bell Canada, Inc., 702 CU, Inc., 7.85%, Apr 02, 2031 360 363 3.81%, Sep 10, 2042 662 700 113 Bell Canada, Inc., 440 CU, Inc., 6.10%, Mar 16, 2035 119 133 3.55%, Nov 22, 2047 440 418 937 Bell Canada, Inc., 158 CU, Inc., 4.75%, Sep 29, 2044 915 936 4.56%, Nov 07, 2053 169 177 125 Bell Canada, Inc., 162 Enbridge Gas Distribution, Inc., 2.70%, Feb 27, 2047 127 121 5.21%, Feb 25, 2036 187 189 228 British Columbia Ferry Services, Inc., 500 Enbridge Gas Distribution, Inc., 4.70%, Oct 23, 2043 248 268 4.00%, Aug 22, 2044 519 508 158 British Columbia Ferry Services, Inc., 179 Enbridge Pipelines, Inc., 4.29%, Apr 28, 2044 161 175 3.00%, Aug 10, 2026 179 173 1,000 Brookfield Asset Management, Inc., 175 Enbridge Pipelines, Inc., 5.04%, Mar 08, 2024 1,099 1,054 5.33%, Apr 06, 2040 208 194 575 Brookfield Asset Management, Inc., 263 Enbridge Pipelines, Inc., 3.80%, Mar 16, 2027 575 555 4.55%, Sep 29, 2045 261 264 970 Brookfield Infrastructure Finance ULC, 90 Enbridge Pipelines, Inc., 4.19%, Sep 11, 2028 970 961 4.13%, Aug 09, 2046 91 84 364 Brookfield Renewable Partners ULC, 193 Enbridge Southern Lights LP, 4.79%, Feb 07, 2022 396 378 4.01%, Jun 30, 2040 202 189 351 Cadillac Fairview Finance Trust, 5,883 Enbridge, Inc., 4.31%, Jan 25, 2021 353 365 3.19%, Dec 05, 2022 5,977 5,868 560 Canadian Imperial Bank of Commerce, 259 Enbridge, Inc., 1.90%, Apr 26, 2021 561 550 3.95%, Nov 19, 2024 265 264 2,000 Canadian Imperial Bank of Commerce, 2,625 Enbridge, Inc., FRN 2.90%, Sep 14, 2021 2,000 2,007 5.38%, Sep 27, 2077 2,531 2,425 1,500 Canadian Imperial Bank of Commerce, 2,215 Enbridge, Inc., FRN 2.04%, Mar 21, 2022 1,480 1,464 6.63%, Apr 12, 2078 2,273 2,226 1,055 Canadian Imperial Bank of Commerce, 193 Énergir, Inc., 2.97%, Jul 11, 2023 1,055 1,057 5.70%, Jul 10, 2036 198 242 405 Canadian Imperial Bank of Commerce, 228 EPCOR Utilities, Inc., FRN 5.75%, Nov 24, 2039 234 293 3.42%, Jan 26, 2026 415 407 355 EPCOR Utilities, Inc., 445 Canadian Imperial Bank of Commerce, 3.55%, Nov 27, 2047 355 341 FRN 716 Fairfax Financial Holdings Ltd., 3.45%, Apr 04, 2028 445 440 5.84%, Oct 14, 2022 747 775 970 Canadian Mortgage Pools, 390 Fairfax Financial Holdings Ltd., 1.85%, Jun 01, 2019 967 969 4.70%, Dec 16, 2026 389 399 105 Canadian National Railway Co., 580 Fairfax Financial Holdings Ltd., 3.60%, Aug 01, 2047 104 102 4.25%, Dec 06, 2027 580 569 1,030 Canadian Western Bank, USD 530 Fairfax Financial Holdings Ltd., 2.88%, Mar 01, 2021 1,032 1,026 4.85%, Apr 17, 2028 667 697 474 Capital Desjardins, Inc., 1,190 Fédération des caisses Desjardins du 5.19%, May 05, 2020 510 489 Québec, 3,141 CDP Financial, Inc., 3.06%, Sep 11, 2023 1,190 1,196 4.60%, Jul 15, 2020 3,218 3,256 765 First Capital Realty, Inc., 1,389 Central 1 Credit Union, 3.95%, Dec 05, 2022 759 775 1.87%, Mar 16, 2020 1,390 1,374 90 First Nations Finance Authority, 975 Central 1 Credit Union, 3.40%, Jun 26, 2024 95 93 2.60%, Nov 07, 2022 975 955 281 First Nations Finance Authority, 845 Chartwell Retirement Residences, 3.05%, Jun 01, 2028 275 281 4.21%, Apr 28, 2025 847 855

The accompanying notes are an integral part of the financial statements.

31 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 562 Ford Credit Canada Co., 790 Manulife Financial Corp., 2.58%, May 10, 2021 562 542 3.32%, May 09, 2028 790 786 631 Ford Credit Canada Co., 2,500 Manulife Financial Corp., FRN 3.28%, Jul 02, 2021 631 617 3.05%, Aug 20, 2029 2,504 2,439 3,705 Ford Credit Canada Co., 714 McGill University Health Centre, 2.77%, Jun 22, 2022 3,670 3,495 5.36%, Dec 31, 2043 724 905 460 Ford Credit Canada Co., 365 Morguard Corp., 3.35%, Sep 19, 2022 460 438 4.09%, May 14, 2021 366 366 435 Ford Credit Canada Co., 245 Morguard Corp., 3.74%, May 08, 2023 435 416 4.33%, Sep 15, 2022 246 246 199 FortisAlberta, Inc., 219 Muskrat Falls / Labrador Transmission 5.37%, Oct 30, 2039 202 244 Assets Funding Trust, 225 FortisBC Energy, Inc., 3.63%, Jun 01, 2029 234 239 6.50%, May 01, 2034 252 298 1,267 National Bank of Canada, 368 FortisBC Energy, Inc., 1.74%, Mar 03, 2020 1,263 1,256 5.55%, Sep 25, 2036 437 457 1,500 National Bank of Canada, 285 FortisBC Energy, Inc., 1.81%, Jul 26, 2021 1,480 1,465 3.69%, Oct 30, 2047 285 281 440 National Bank of Canada, FRN 510 FortisBC Energy, Inc., 3.18%, Feb 01, 2028 440 430 3.85%, Dec 07, 2048 509 517 701 New Brunswick F-M Project Co., Inc., 630 Greater Toronto Airports Authority, 6.47%, Nov 30, 2027 851 802 5.30%, Feb 25, 2041 825 795 200 Nissan Canada Financial Services, Inc., 599 Great-West Lifeco, Inc., 1.75%, Apr 09, 2020 200 197 4.65%, Aug 13, 2020 667 618 4,335 Nissan Canada Financial Services, Inc., 325 Health Montreal Collective LP, 2.42%, Oct 19, 2020 4,343 4,288 6.72%, Sep 30, 2049 418 418 830 Nissan Canada Financial Services, Inc., 134 Hospital Infrastructure Partners NOH 2.61%, Mar 05, 2021 830 821 Partnership, 1,200 Nissan Canada Financial Services, Inc., 5.44%, Jan 31, 2045 154 158 3.15%, Sep 14, 2021 1,200 1,200 7,449 HSBC Bank Canada, 413 North Battleford Power LP, 2.91%, Sep 29, 2021 7,512 7,445 4.96%, Dec 31, 2032 467 453 2,500 HSBC Bank Canada, 500 Northwestconnect Group Partnership, 2.17%, Jun 29, 2022 2,479 2,429 5.95%, Apr 30, 2041 620 591 205 HSBC Bank Canada, 347 Nova Scotia Power, Inc., 2.54%, Jan 31, 2023 205 201 4.15%, Mar 06, 2042 347 357 485 Hydro One, Inc., 351 OMERS Realty Corp., 5.49%, Jul 16, 2040 494 597 3.33%, Nov 12, 2024 351 357 494 Hydro One, Inc., 790 OMERS Realty Corp., 4.59%, Oct 09, 2043 533 548 3.24%, Oct 04, 2027 790 794 200 Hydro One, Inc., 772 Ontario Electricity Financial Corp., 5.00%, Oct 19, 2046 257 238 8.90%, Aug 18, 2022 1,111 944 575 Hydro One, Inc., 364 Ontario School Boards Financing Corp., 3.63%, Jun 25, 2049 572 547 6.55%, Oct 19, 2026 452 415 193 Hydro-Québec, 676 Ontario School Boards Financing Corp., 11.00%, Aug 15, 2020 288 220 5.38%, Jun 25, 2032 701 765 669 Hydro-Québec, 723 OPB Finance Trust, 5.00%, Feb 15, 2045 700 886 1.88%, Feb 24, 2022 710 710 715 Hydro-Québec, 400 OPB Finance Trust, 4.00%, Feb 15, 2055 871 851 2.98%, Jan 25, 2027 400 401 600 Ivanhoe Cambridge II, Inc., 600 Pembina Pipeline Corp., 2.91%, Jun 27, 2023 600 600 4.89%, Mar 29, 2021 648 622 650 Loblaw Cos., Ltd., 405 Pembina Pipeline Corp., 3.92%, Jun 10, 2024 650 662 2.99%, Jan 22, 2024 402 394 715 Manulife Bank of Canada, 860 Pembina Pipeline Corp., 1.92%, Sep 01, 2021 715 698 3.71%, Aug 11, 2026 879 849 1,775 Manulife Bank of Canada, 1,434 Pembina Pipeline Corp., 2.08%, May 26, 2022 1,775 1,726 4.24%, Jun 15, 2027 1,434 1,459

The accompanying notes are an integral part of the financial statements.

32 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 228 Plenary Health Care Partnerships 1,300 SmartCentres REIT, Humber LP, 2.88%, Mar 21, 2022 1,300 1,277 4.82%, Nov 30, 2044 239 263 464 SNC-Lavalin Innisfree McGill Finance, Inc., 531 Plenary Properties LTAP LP, 6.63%, Jun 30, 2044 575 596 6.29%, Jan 31, 2044 673 683 2,893 Sun Life Financial, Inc., 1,400 PSP Capital, Inc., 4.57%, Aug 23, 2021 3,144 3,024 1.34%, Aug 18, 2021 1,400 1,370 3,305 Sun Life Financial, Inc., 334 PSP Capital, Inc., 2.60%, Sep 25, 2025 3,314 3,289 1.73%, Jun 21, 2022 334 327 840 Sun Life Financial, Inc., 2,667 PSP Capital, Inc., 2.75%, Nov 23, 2027 840 827 2.09%, Nov 22, 2023 2,661 2,620 980 Sun Life Financial, Inc., 1,467 PSP Capital, Inc., 3.05%, Sep 19, 2028 959 970 3.29%, Apr 04, 2024 1,593 1,522 469 TCHC Issuer Trust, 2,110 PSP Capital, Inc., 4.88%, May 11, 2037 457 549 3.00%, Nov 05, 2025 2,107 2,154 248 TELUS Communications, Inc., 1,147 Reliance LP, 8.80%, Sep 22, 2025 323 318 3.81%, Sep 15, 2020 1,147 1,159 850 TELUS Corp., 575 Reliance LP, 3.35%, Apr 01, 2024 897 846 3.84%, Mar 15, 2025 575 565 99 TELUS Corp., 2,500 RioCan REIT, 3.75%, Jan 17, 2025 100 100 3.75%, May 30, 2022 2,564 2,529 3,409 TELUS Corp., 1,680 RioCan REIT, 3.75%, Mar 10, 2026 3,513 3,425 2.83%, Oct 03, 2022 1,680 1,643 160 TELUS Corp., 210 RioCan REIT, 3.63%, Mar 01, 2028 156 157 3.21%, Sep 29, 2023 210 206 373 TELUS Corp., 392 Rogers Communications, Inc., 5.15%, Nov 26, 2043 385 388 6.56%, Mar 22, 2041 476 487 95 TELUS Corp., 100 Royal Bank of Canada, 4.75%, Jan 17, 2045 92 93 1.92%, Jul 17, 2020 99 99 129 The 55 Ontario School Board Trust, 1,876 Royal Bank of Canada, 5.90%, Jun 02, 2033 169 167 2.86%, Mar 04, 2021 1,881 1,883 3,120 The Bank of Nova Scotia, 1,144 Royal Bank of Canada, 2.09%, Sep 09, 2020 3,123 3,093 2.03%, Mar 15, 2021 1,155 1,128 6,519 The Bank of Nova Scotia, 1,060 Royal Bank of Canada, 3.27%, Jan 11, 2021 6,660 6,594 3.30%, Sep 26, 2023 1,060 1,065 630 The Bank of Nova Scotia, 4,000 Royal Bank of Canada, 1.90%, Dec 02, 2021 625 614 2.33%, Dec 05, 2023 3,942 3,892 3,095 The Bank of Nova Scotia, 3,620 Royal Bank of Canada, 1.83%, Apr 27, 2022 2,992 2,998 2.48%, Jun 04, 2025 3,618 3,597 1,923 The Bank of Nova Scotia, 405 Royal Bank of Canada, 2.98%, Apr 17, 2023 1,919 1,927 3.45%, Sep 29, 2026 415 408 800 The Bank of Nova Scotia, 1,337 Royal Bank of Canada, FRN 2.29%, Jun 28, 2024 800 772 3.04%, Jul 17, 2024 1,356 1,340 295 The Empire Life Insurance Co., FRN 1,195 Royal Bank of Canada, FRN 3.66%, Mar 15, 2028 295 297 3.31%, Jan 20, 2026 1,207 1,201 837 The Manufacturers Life Insurance Co., 193 Royal Office Finance LP, 3.18%, Nov 22, 2027 837 840 5.21%, Nov 12, 2032 220 228 1,512 The Toronto-Dominion Bank, 228 Scotiabank Capital Trust, FRN 2.45%, Apr 02, 2019 1,524 1,513 5.65%, Dec 31, 2056 273 269 3,150 The Toronto-Dominion Bank, 1,228 Shaw Communications, Inc., 2.56%, Jun 24, 2020 3,197 3,152 3.80%, Nov 02, 2023 1,228 1,236 3,030 The Toronto-Dominion Bank, 2,631 Shaw Communications, Inc., 2.05%, Mar 08, 2021 3,042 2,991 4.35%, Jan 31, 2024 2,815 2,709 620 The Toronto-Dominion Bank, 390 Smart REIT, 3.23%, Jul 24, 2024 628 629 4.05%, Jul 27, 2020 408 396 1,000 The Toronto-Dominion Bank, 669 Smart REIT, 3.59%, Sep 14, 2028 1,000 996 3.56%, Feb 06, 2025 672 654 2,736 The Toronto-Dominion Bank, FRN 2.69%, Jun 24, 2025 2,756 2,726

The accompanying notes are an integral part of the financial statements.

33 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 825 The Toronto-Dominion Bank, FRN 860 Province of British Columbia Interest Strip, 3.22%, Jul 25, 2029 827 803 zero coupon, Dec 18, 2023 743 757 440 Toromont Industries Ltd., 3,000 Province of Manitoba, 3.84%, Oct 27, 2027 440 442 3.30%, Jun 02, 2024 3,267 3,110 215 Toronto Hydro Corp., 1,814 Province of Manitoba, 3.49%, Feb 28, 2048 215 206 2.55%, Jun 02, 2026 1,781 1,787 304 TransCanada PipeLines Ltd., 4,389 Province of Manitoba, 6.28%, May 26, 2028 324 359 2.60%, Jun 02, 2027 4,311 4,308 810 TransCanada PipeLines Ltd., 3,348 Province of Manitoba, 4.33%, Sep 16, 2047 814 769 3.00%, Jun 02, 2028 3,319 3,375 435 TransCanada PipeLines Ltd., 403 Province of Manitoba, 4.18%, Jul 03, 2048 435 401 4.10%, Mar 05, 2041 420 451 700 Union Gas Ltd., 1,336 Province of Manitoba, 4.20%, Jun 02, 2044 745 734 4.05%, Sep 05, 2045 1,447 1,498 170 Union Gas Ltd., 1,000 Province of New Brunswick, 3.59%, Nov 22, 2047 170 161 2.35%, Aug 14, 2027 951 958 3,000 Ventas Canada Finance Ltd., 367 Province of New Brunswick, 3.30%, Feb 01, 2022 3,051 3,005 3.10%, Aug 14, 2028 366 372 1,250 Ventas Canada Finance Ltd., 954 Province of New Brunswick, 2.55%, Mar 15, 2023 1,258 1,209 5.50%, Jan 27, 2034 1,177 1,206 956 VW Credit Canada, Inc., 455 Province of New Brunswick, 2.90%, Mar 29, 2021 955 950 3.10%, Aug 14, 2048 448 429 400 VW Credit Canada, Inc., 394 Province of Newfoundland and Labrador, 3.70%, Nov 14, 2022 399 403 5.70%, Oct 17, 2035 448 511 135 Winnipeg Airport Authority, Inc., 2,794 Province of Nova Scotia, 5.21%, Sep 28, 2040 148 155 2.10%, Jun 01, 2027 2,636 2,651 85 Winnipeg Airport Authority, Inc., 206 Province of Nova Scotia, 3.66%, Sep 30, 2047 85 85 5.80%, Jun 01, 2033 275 270 556 Province of Nova Scotia, 211,272 209,258 4.50%, Jun 01, 2037 538 658 Provincial Bonds 32.1% 2,283 Province of Nova Scotia, 1,253 Financement-Québec, 4.40%, Jun 01, 2042 2,715 2,720 5.25%, Jun 01, 2034 1,579 1,566 489 Province of Ontario, 191 Labrador-Island Link Funding Trust, 1.95%, Jan 27, 2023 486 481 3.76%, Jun 01, 2033 218 212 886 Province of Ontario, 3,000 Province of Alberta, 2.85%, Jun 02, 2023 891 901 2.35%, Jun 01, 2025 2,944 2,942 USD 453 Province of Ontario, 869 Province of Alberta, 3.40%, Oct 17, 2023 587 632 3.45%, Dec 01, 2043 820 892 10,012 Province of Ontario, 6,446 Province of Alberta, 3.50%, Jun 02, 2024 10,597 10,493 3.05%, Dec 01, 2048 6,230 6,164 20,846 Province of Ontario, 854 Province of Alberta, 2.60%, Jun 02, 2025 21,132 20,808 3.10%, Jun 01, 2050 852 826 3,236 Province of Ontario, 8,392 Province of British Columbia, 2.40%, Jun 02, 2026 3,230 3,169 2.85%, Jun 18, 2025 8,503 8,543 1,305 Province of Ontario, 1,235 Province of British Columbia, 2.60%, Jun 02, 2027 1,277 1,287 2.55%, Jun 18, 2027 1,220 1,222 5,225 Province of Ontario, 234 Province of British Columbia, 2.90%, Jun 02, 2028 5,170 5,259 6.35%, Jun 18, 2031 333 319 450 Province of Ontario, 730 Province of British Columbia, 6.50%, Mar 08, 2029 602 592 4.70%, Jun 18, 2037 903 900 4,069 Province of Ontario, 2,889 Province of British Columbia, 4.70%, Jun 02, 2037 4,902 4,945 4.95%, Jun 18, 2040 3,442 3,742 1,754 Province of Ontario, 216 Province of British Columbia, 4.60%, Jun 02, 2039 2,110 2,129 2.80%, Jun 18, 2048 200 205 50 Province of Ontario, 1,625 Province of British Columbia, 3.45%, Jun 02, 2045 54 52 2.95%, Jun 18, 2050 1,581 1,591 3,719 Province of Ontario, 2.80%, Jun 02, 2048 3,446 3,447

The accompanying notes are an integral part of the financial statements.

34 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 11,999 Province of Ontario, 2,812 Canada Housing Trust No. 1, 2.90%, Jun 02, 2049 11,369 11,365 2.55%, Dec 15, 2023 2,823 2,844 1,994 Province of Ontario Generic Strip Residual, 3,250 Canada Housing Trust No. 1, zero coupon, Jun 02, 2045 856 859 1.95%, Dec 15, 2025 3,153 3,155 459 Province of Quebec, 1,000 Canada Housing Trust No. 1, 2.45%, Mar 01, 2023 458 461 2.25%, Dec 15, 2025 997 990 742 Province of Quebec, 2,000 Canada Housing Trust No. 1, 3.00%, Sep 01, 2023 776 760 1.90%, Sep 15, 2026 1,916 1,924 5,195 Province of Quebec, 10,434 Canada Housing Trust No. 1, 3.75%, Sep 01, 2024 5,543 5,529 2.35%, Jun 15, 2027 10,412 10,341 5,874 Province of Quebec, 49 Canada Housing Trust No. 1, 2.75%, Sep 01, 2025 5,873 5,926 2.65%, Mar 15, 2028 48 50 3,871 Province of Quebec, 3,975 Canada Housing Trust No. 1, 2.75%, Sep 01, 2028 3,750 3,865 2.65%, Dec 15, 2028 3,948 4,020 574 Province of Quebec, 2,270 Canadian Government Bond, 6.00%, Oct 01, 2029 772 740 2.75%, Jun 01, 2022 2,357 2,335 429 Province of Quebec, 315 Canadian Government Bond, 6.25%, Jun 01, 2032 509 585 1.00%, Sep 01, 2022 299 305 4,356 Province of Quebec, 672 Canadian Government Bond, 5.00%, Dec 01, 2038 5,646 5,568 2.00%, Jun 01, 2028 648 674 251 Province of Quebec, 964 Canadian Government Bond, 4.25%, Dec 01, 2043 307 299 2.25%, Jun 01, 2029 980 988 2,310 Province of Quebec, 2,568 Canadian Government Bond, 3.50%, Dec 01, 2045 2,393 2,456 5.75%, Jun 01, 2033 3,625 3,740 6,115 Province of Quebec, 4,049 Canadian Government Bond, 3.50%, Dec 01, 2048 6,589 6,549 5.00%, Jun 01, 2037 5,803 5,799 6,487 Province of Quebec Residual Strip, 3,514 Canadian Government Bond, zero coupon, Dec 01, 2043 2,806 2,970 3.50%, Dec 01, 2045 4,679 4,446 291 Province of Saskatchewan, 287 Canadian Government Bond, 3.20%, Jun 03, 2024 291 300 1.25%, Dec 01, 2047 352 324 2,750 Province of Saskatchewan, 10,773 Canadian Government Bond, 2.55%, Jun 02, 2026 2,752 2,715 2.75%, Dec 01, 2048 11,701 12,115 433 Province of Saskatchewan, 991 Canadian Government Bond, 3.05%, Dec 02, 2028 429 439 2.00%, Dec 01, 2051 879 948 351 Province of Saskatchewan, 4,300 Canadian Government Bond, 5.80%, Sep 05, 2033 461 461 2.75%, Dec 01, 2064 4,861 5,049 384 Province of Saskatchewan, 2,672 Canadian Government Real Return Bond, 5.60%, Sep 05, 2035 432 503 4.25%, Dec 01, 2026 3,552 3,423 207 Province of Saskatchewan, 191 Canadian Government Real Return Bond, 5.00%, Mar 05, 2037 218 258 0.50%, Dec 01, 2050 184 177 1,088 Province of Saskatchewan, 860 CPPIB Capital, Inc., 4.75%, Jun 01, 2040 1,306 1,340 3.00%, Jun 15, 2028 860 873 316 Province of Saskatchewan, 1,000 Export Development Canada, 3.40%, Feb 03, 2042 303 323 1.80%, Sep 01, 2022 998 987 434 Province of Saskatchewan, 66,785 67,201 3.30%, Jun 02, 2048 441 438 107 Province of Saskatchewan, Municipal Bonds 3.0% 3.10%, Jun 02, 2050 106 104 1,007 City of Montreal, 3.50%, Sep 01, 2024 1,005 1,046 162,537 163,193 325 City of Montreal, Federal Bonds 13.2% 2.75%, Sep 01, 2026 324 320 253 Canada Housing Trust No. 1, 1,572 City of Montreal, 1.25%, Jun 15, 2021 255 248 3.00%, Sep 01, 2027 1,569 1,570 1,062 Canada Housing Trust No. 1, 611 City of Montreal, 2.40%, Dec 15, 2022 1,079 1,069 3.15%, Sep 01, 2028 603 615 376 Canada Housing Trust No. 1, 966 City of Montreal, 2.35%, Jun 15, 2023 376 377 4.25%, Dec 01, 2032 1,046 1,069

The accompanying notes are an integral part of the financial statements.

35 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 485 City of Montreal, 1,600 The Goldman Sachs Group, Inc., 3.50%, Dec 01, 2038 485 487 3.55%, Feb 12, 2021 1,649 1,613 119 City of Ottawa, 1,580 The Goldman Sachs Group, Inc., 3.10%, Jul 27, 2048 113 111 2.43%, Apr 26, 2023 1,573 1,524 935 City of Toronto, 345 The Goldman Sachs Group, Inc., FRN 3.50%, Jun 02, 2036 934 944 3.31%, Oct 31, 2025 345 335 202 City of Toronto, 750 Wells Fargo & Co., 3.25%, Jun 24, 2046 202 193 2.51%, Oct 27, 2023 750 719 375 City of Toronto, 475 Wells Fargo & Co., 3.20%, Aug 01, 2048 374 355 2.98%, May 19, 2026 470 453 318 City of Vancouver, 31,077 30,708 3.10%, Sep 21, 2028 318 321 1,994 Municipal Finance Authority of British Federal Bonds 1.2% Columbia, USD 1,320 United States Treasury Note, 3.75%, Sep 26, 2023 2,072 2,101 2.88%, Aug 15, 2028 1,719 1,831 1,134 Municipal Finance Authority of British USD 619 United States Treasury Note, Columbia, 2.25%, Aug 15, 2046 750 723 2.80%, Dec 03, 2023 1,133 1,147 USD 535 United States Treasury Note, 451 Municipal Finance Authority of British 3.00%, May 15, 2047 699 728 Columbia, USD 97 United States Treasury Note, 3.05%, Oct 23, 2028 451 455 2.75%, Nov 15, 2047 123 125 1,400 Regional Municipality of Peel, USD 2,016 United States Treasury Note, 5.10%, Jun 29, 2040 1,795 1,756 3.00%, Aug 15, 2048 2,533 2,741 263 Regional Municipality of Peel, 5,824 6,148 3.85%, Oct 30, 2042 254 280 36,901 36,856 669 South Coast British Columbia Transportation Authority, Global 2.1% 3.25%, Nov 23, 2028 668 682 Corporate Bonds 1.0% 684 The Regional Municipality of York, 670 BP Capital Markets PLC, 4.00%, Jun 30, 2021 762 712 3.47%, May 15, 2025 670 671 907 The Regional Municipality of York, 2,755 Heathrow Funding Ltd., 2.35%, Jun 09, 2027 863 864 3.00%, Jun 17, 2021 2,843 2,757 200 HSBC Holdings PLC, 14,971 15,028 3.20%, Dec 05, 2023 198 197 455,565 454,680 572 International Finance Corp., 2.38%, Jul 19, 2023 569 574 United States 7.3% 674 National Grid Electricity Transmission PLC, Corporate Bonds 6.1% 1,135 AT&T, Inc., 2.90%, Nov 26, 2019 678 677 255 Transurban Finance Co. Pty Ltd., 4.00%, Nov 25, 2025 1,132 1,132 3,390 Bank of America Corp., FRN 4.56%, Nov 14, 2028 255 267 2.60%, Mar 15, 2023 3,363 3,324 5,213 5,143 840 Bank of America Corp., FRN Supranational Bonds 0.9% 3.30%, Apr 24, 2024 840 835 321 EUROFIMA, 2,800 Bank of America Corp., FRN 5.15%, Dec 13, 2019 334 330 3.41%, Sep 20, 2025 2,782 2,775 461 European Investment Bank, 6,562 Citigroup, Inc., 2.38%, Jan 18, 2023 460 464 3.39%, Nov 18, 2021 6,713 6,620 227 European Investment Bank, USD 280 Great-West Lifeco Finance 2018 LP, 4.60%, Jan 30, 2037 220 276 4.05%, May 17, 2028 357 389 1,052 Inter-American Development Bank, 1,397 JPMorgan Chase & Co., 1.88%, Mar 20, 2020 1,049 1,051 3.19%, Mar 05, 2021 1,431 1,408 306 Inter-American Development Bank, 5,000 Metropolitan Life Global Funding I, 0.50%, May 23, 2023 280 283 1.88%, Apr 16, 2020 4,944 4,955 708 Inter-American Development Bank, 1,530 Metropolitan Life Global Funding I, 4.40%, Jan 26, 2026 826 796 3.03%, Jun 11, 2020 1,555 1,539 3,170 Morgan Stanley, 3.00%, Feb 07, 2024 3,173 3,087

The accompanying notes are an integral part of the financial statements.

36 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE CONCENTRATION RISK NO. OF UNITS NAME ($) (’000) ($) (’000) The following table summarizes the Fund’s concentration risk. 461 International Bank for Reconstruction & % of net assets attributable to Development, unitholders 2.25%, Jan 17, 2023 458 461 Portfolio by category December 31, 2018 December 31, 2017 763 International Bank for Reconstruction & Bonds Development, Canada 2.50%, Aug 03, 2023 760 772 Corporate Bonds 41.2 41.4 4,387 4,433 Provincial Bonds 32.1 31.8 Federal Bonds 13.2 14.2 Government Bonds 0.2% Municipal Bonds 3.0 3.7 683 NRW Bank, United States 4.50%, Mar 01, 2019 666 686 Corporate Bonds 6.1 5.6 546 Svensk Exportkredit AB, Federal Bonds 1.2 0.5 4.45%, Mar 15, 2019 533 550 Global Corporate Bonds 1.0 0.7 1,199 1,236 Supranational Bonds 0.9 0.5 10,799 10,812 Government Bonds 0.2 - Short-Term Investments 0.1 0.3 503,265 502,348 Derivative assets - 0.1 SHORT-TERM INVESTMENTS 0.1% Derivative liabilities (0.1) - 450 Merit Trust, Other assets less liabilities 1.1 1.2 0.97%, Jan 02, 2019 450 450 100.0 100.0 Total investments 503,715 502,798 Derivative assets 0.0% 71 Derivative liabilities (0.1%) (835) Other assets less liabilities 1.1% 5,825 Net assets attributable to unitholders 100.0% 507,859

FORWARD FOREIGN CURRENCY CONTRACTS (0.0%) Purchased currency Sold currency Valueasat Valueasat Unrealized Counter- Settlement December 31, 2018 December 31, 2018 gain/loss party credit Contract price date Currency ($) (’000) Currency ($) (’000) ($) (’000) Counterparty rating USD 0.75470 Jan 31, 2019 USD 2,457 CAD 2,386 71 Royal Bank of Canada AA- Derivative assets 71 CAD 1.34703 Jan 31, 2019 CAD 881 USD 893 (12) Royal Bank of Canada AA- CAD 1.31866 Jan 31, 2019 CAD 10,693 USD 11,067 (374) Royal Bank of Canada AA- Derivative liabilities (386) Total (315) FUTURES CONTRACTS (0.1%) Commitment Unrealized No. of Contract Futures Delivery amount Price as at gain/(loss) contracts price contracts date ($) (’000) December 31, 2018 (CAD $) (’000) (9) CAD 136.80 Canada 10y Bond Future Mar 20, 2019 CAD 1,231 CAD 136.77 - (23) USD 112.74 5-Year U.S. Treasury Note Future Mar 29, 2019 USD 2,638 USD 114.69 (61) (54) EUR 161.79 Euro Bond Future Mar 07, 2019 EUR 8,831 EUR 163.54 (147) (27) USD 139.47 U.S. Treasury Long Bond Futures Mar 20, 2019 USD 3,942 USD 146.00 (241) Derivative liabilities (449)

The accompanying notes are an integral part of the financial statements.

37 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 35,555 30,681 Investments, at fair value 938,143 989,722 Foreign exchange gain (loss) on income 2 (4) Cash 3,266 7,622 Foreign exchange gain (loss) on currency 374 197 Margin deposited on derivatives 1,696 234 Realized gain (loss) on sales of investments (825) 152 Subscriptions receivable 16 942 Realized gain (loss) on derivatives (821) 326 Change in unrealized appreciation (depreciation) in Receivable from investments sold - 5,808 Interest, dividends and other receivables 5,423 5,799 the value of investments (33,809) 28,803 Change in unrealized appreciation (depreciation) in Derivative assets 72 436 the value of derivatives (1,046) 160 948,616 1,010,563 (570) 60,315 Liabilities Expenses Current liabilities Audit fees 6 11 Redemptions payable 408 431 Transfer agent fees 5 4 Accrued expenses and other liabilities 34 47 Filing fees 40 25 Derivative liabilities 868 186 Interest expense & bank charges 7 3 1,310 664 Unitholder reporting costs 51 51 Custodial fees 79 97 Net assets attributable to unitholders 947,306 1,009,899 Foreign withholding taxes 5 2 Net assets attributable to unitholders per unit Transaction costs - 5 11.02 11.49 193 198 Increase (decrease) in net assets attributable to unitholders (763) 60,117 Increase (decrease) in net assets attributable to unitholders per unit (0.01) 0.81

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 1,009,899 757,048 Increase (decrease) in net assets attributable to unitholders (763) 60,117 Distribution to unitholders from: Net investment income (34,769) (30,413) Net realized gains (2,489) (5,110)

Total distributions to unitholders (37,258) (35,523)

Security transactions Proceeds from units issued 96,263 294,224 Reinvestments of distributions to unitholders 37,258 35,523 Redemption of units (158,093) (101,490)

Total security transactions (24,572) 228,257

Net assets attributable to unitholders - end of year 947,306 1,009,899

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 87,911 68,000 Units issued 8,517 25,639 Units issued for reinvestment of distributions 3,380 3,092 Units redeemed (13,881) (8,820)

Units outstanding end of year 85,927 87,911

The accompanying notes are an integral part of the financial statements.

38 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 98.8% Increase (decrease) in net assets attributable to Canada 96.8% unitholders (763) 60,117 Provincial Bonds 50.7% Adjustments for: 7,047 Financement-Québec, Change in unrealized foreign exchange gain (loss) 5.25%, Jun 01, 2034 9,154 8,810 on currency (202) 149 1,500 Labrador-Island Link Funding Trust, Realized gain (loss) on sales of investments 825 (152) 3.85%, Dec 01, 2053 1,525 1,748 Realized gain (loss) on derivatives 821 (326) 1,350 Province of Alberta, Change in unrealized appreciation (depreciation) in 3.50%, Jun 01, 2031 1,356 1,414 the value of investments 33,809 (28,803) 1,807 Province of Alberta, Change in unrealized appreciation (depreciation) in 4.50%, Dec 01, 2040 2,191 2,153 the value of derivatives 1,046 (160) 162 Province of Alberta, Purchases of investments (2,058,090) (1,587,125) 3.45%, Dec 01, 2043 148 166 Proceeds from disposition of investments 2,080,022 1,377,547 640 Province of Alberta, Margin on derivatives (1,462) (214) 3.30%, Dec 01, 2046 625 640 Interest, dividends and other receivables 376 (1,442) 24,611 Province of Alberta, Accrued expenses and other liabilities (13) 23 3.05%, Dec 01, 2048 23,811 23,535 2,697 Province of Alberta, Net cash provided by (used in) operating 3.10%, Jun 01, 2050 2,649 2,609 activities 56,369 (180,386) 1,000 Province of British Columbia, Cash flows from financing activities 5.40%, Jun 18, 2035 1,319 1,308 Proceeds from sale of units 97,189 293,424 9,434 Province of British Columbia, Payments for units redeemed (158,116) (105,830) 4.70%, Jun 18, 2037 10,551 11,630 Net cash provided by (used in) financing 1,182 Province of British Columbia, activities (60,927) 187,594 4.30%, Jun 18, 2042 1,364 1,421 4,510 Province of British Columbia, Change in unrealized foreign exchange gain (loss) 3.20%, Jun 18, 2044 4,560 4,600 on currency 202 (149) 15,906 Province of British Columbia, Net increase (decrease) in cash (4,558) 7,208 2.80%, Jun 18, 2048 15,158 15,079 Cash (bank overdraft) beginning of year 7,622 563 5,190 Province of British Columbia, Cash (bank overdraft) end of year 3,266 7,622 2.95%, Jun 18, 2050 5,031 5,080 496 Province of Manitoba, Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 35,926 29,230 3.00%, Jun 02, 2028 488 500 Interest paid 7 3 105 Province of Manitoba, 10.50%, Mar 05, 2031 187 184 1,150 Province of Manitoba, 5.70%, Mar 05, 2037 1,600 1,527 1,800 Province of Manitoba, 4.10%, Mar 05, 2041 1,967 2,012 4,638 Province of Manitoba, 3.35%, Mar 05, 2043 4,536 4,635 10,363 Province of Manitoba, 2.85%, Sep 05, 2046 9,666 9,419 1,731 Province of Manitoba, 3.40%, Sep 05, 2048 1,787 1,750 2,372 Province of Manitoba, 3.20%, Mar 05, 2050 2,316 2,313 1,168 Province of New Brunswick, 3.10%, Aug 14, 2028 1,164 1,183 790 Province of New Brunswick, 5.50%, Jan 27, 2034 864 999 1,350 Province of New Brunswick, 4.55%, Mar 26, 2037 1,609 1,566 3,561 Province of New Brunswick, 3.80%, Aug 14, 2045 3,719 3,797

The accompanying notes are an integral part of the financial statements.

39 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 2,638 Province of New Brunswick, 1,416 Province of Saskatchewan, 3.10%, Aug 14, 2048 2,562 2,489 3.05%, Dec 02, 2028 1,414 1,437 3,140 Province of Newfoundland and Labrador, 2,260 Province of Saskatchewan, 2.85%, Jun 02, 2028 3,105 3,107 5.60%, Sep 05, 2035 2,894 2,962 424 Province of Newfoundland and Labrador, 1,378 Province of Saskatchewan, 5.60%, Oct 17, 2033 466 537 5.00%, Mar 05, 2037 1,436 1,715 675 Province of Newfoundland and Labrador, 738 Province of Saskatchewan, 5.70%, Oct 17, 2035 755 875 3.40%, Feb 03, 2042 789 755 3,378 Province of Nova Scotia, 2,200 Province of Saskatchewan, 2.10%, Jun 01, 2027 3,250 3,205 3.90%, Jun 02, 2045 2,575 2,442 931 Province of Nova Scotia, 10,049 Province of Saskatchewan, 6.60%, Dec 01, 2031 1,322 1,288 3.30%, Jun 02, 2048 10,325 10,136 2,527 Province of Nova Scotia, 107 Province of Saskatchewan, 4.50%, Jun 01, 2037 2,804 2,990 3.10%, Jun 02, 2050 106 104 3,031 Province of Nova Scotia, 512 Province of Saskatchewan, 4.70%, Jun 01, 2041 3,620 3,741 2.95%, Jun 02, 2058 492 479 500 Province of Nova Scotia, 478,221 480,425 4.40%, Jun 01, 2042 618 596 4,017 Province of Nova Scotia, Corporate Bonds 25.6% 3.45%, Jun 01, 2045 4,257 4,165 93 407 International, Inc., 31,068 Province of Ontario, 6.47%, Jul 27, 2029 105 119 5.85%, Mar 08, 2033 42,054 41,039 6,079 407 International, Inc., 27,179 Province of Ontario, 5.75%, Feb 14, 2036 7,454 7,529 5.60%, Jun 02, 2035 36,919 35,794 1,089 407 International, Inc., 15,475 Province of Ontario, 3.65%, Sep 08, 2044 1,083 1,066 4.70%, Jun 02, 2037 19,631 18,807 4,283 407 International, Inc., 55,174 Province of Ontario, 3.83%, May 11, 2046 4,581 4,316 3.45%, Jun 02, 2045 56,419 57,581 442 407 International, Inc., 3,343 Province of Ontario, 3.60%, May 21, 2047 433 428 2.90%, Dec 02, 2046 3,247 3,155 2,903 407 International, Inc., 14,199 Province of Ontario, 3.72%, May 11, 2048 2,900 2,871 2.80%, Jun 02, 2048 12,998 13,160 832 Aéroports de Montréal, 21,641 Province of Ontario, 5.17%, Sep 17, 2035 873 1,006 2.90%, Jun 02, 2049 20,408 20,498 2,653 Aéroports de Montréal, 11,776 Province of Ontario Generic Strip Residual, 3.92%, Sep 26, 2042 2,562 2,798 zero coupon, Jun 02, 2045 5,200 5,071 410 AIMCo Realty Investors LP, 335 Province of Prince Edward Island, 3.37%, Jun 01, 2027 410 414 5.60%, Feb 21, 2034 368 422 1,583 Alberta Powerline LP, 4,713 Province of Quebec, 4.07%, Mar 01, 2054 1,583 1,628 2.75%, Sep 01, 2028 4,568 4,706 186 Alectra, Inc., 12,133 Province of Quebec, 3.96%, Jul 30, 2042 186 192 6.00%, Oct 01, 2029 15,622 15,633 138 Alliance Pipeline LP, 7,428 Province of Quebec, 6.77%, Dec 31, 2025 155 156 6.25%, Jun 01, 2032 9,884 10,120 987 AltaGas Canada, Inc., 500 Province of Quebec, 4.26%, Dec 05, 2028 986 1,004 5.75%, Dec 01, 2036 685 682 2,653 AltaGas Ltd., 6,051 Province of Quebec, 4.12%, Apr 07, 2026 2,820 2,621 5.00%, Dec 01, 2038 7,898 7,734 1,741 AltaGas Ltd., 1,204 Province of Quebec, 4.50%, Aug 15, 2044 1,770 1,474 4.25%, Dec 01, 2043 1,404 1,432 2,141 AltaGas Ltd., 49,178 Province of Quebec, 4.99%, Oct 04, 2047 2,141 1,945 3.50%, Dec 01, 2045 50,020 52,282 113 AltaLink LP, 34,545 Province of Quebec, 5.25%, Sep 22, 2036 110 135 3.50%, Dec 01, 2048 36,676 36,994 931 AltaLink LP, 2,793 Province of Quebec Residual Strip, 4.87%, Nov 15, 2040 931 1,087 zero coupon, Dec 01, 2041 1,273 1,362 1,862 AltaLink LP, 1,862 Province of Quebec Residual Strip, 3.99%, Jun 30, 2042 1,995 1,929 zero coupon, Dec 01, 2043 812 852

The accompanying notes are an integral part of the financial statements.

40 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 465 AltaLink LP, 874 Enbridge Pipelines, Inc., 4.05%, Nov 21, 2044 465 487 5.08%, Dec 19, 2036 956 942 4,003 AltaLink LP, 209 Enbridge Pipelines, Inc., 4.09%, Jun 30, 2045 4,380 4,209 5.33%, Apr 06, 2040 260 232 2,429 AltaLink LP, 2,523 Enbridge Pipelines, Inc., 3.72%, Dec 03, 2046 2,453 2,406 4.55%, Sep 29, 2045 2,635 2,528 3,491 Bell Canada, Inc., 3,910 Enbridge Pipelines, Inc., 3.55%, Mar 02, 2026 3,623 3,468 4.13%, Aug 09, 2046 3,975 3,666 1,519 Bell Canada, Inc., 4,972 Enbridge, Inc., FRN 8.88%, Apr 17, 2026 1,857 1,955 5.38%, Sep 27, 2077 4,774 4,594 931 Bell Canada, Inc., 4,365 Enbridge, Inc., FRN 2.90%, Aug 12, 2026 922 881 6.63%, Apr 12, 2078 4,463 4,388 419 Bell Canada, Inc., 141 Énergir, Inc., 7.65%, Dec 30, 2031 450 536 6.30%, Oct 31, 2033 156 184 931 Bell Canada, Inc., 931 Énergir, Inc., 4.75%, Sep 29, 2044 923 930 3.53%, May 16, 2047 906 898 1,490 Bell Canada, Inc., 116 EPCOR Utilities, Inc., 4.35%, Dec 18, 2045 1,397 1,396 6.80%, Jun 28, 2029 128 151 4,834 Bell Canada, Inc., 289 EPCOR Utilities, Inc., 4.45%, Feb 27, 2047 4,775 4,607 5.65%, Nov 16, 2035 287 357 326 Brookfield Asset Management, Inc., 695 EPCOR Utilities, Inc., 3.80%, Mar 16, 2027 326 314 5.75%, Nov 24, 2039 760 892 2,793 Brookfield Renewable Partners ULC, 3,398 EPCOR Utilities, Inc., 3.63%, Jan 15, 2027 2,792 2,680 4.55%, Feb 28, 2042 3,562 3,795 279 Bruce Power LP, 2,550 EPCOR Utilities, Inc., 4.01%, Jun 21, 2029 279 280 3.55%, Nov 27, 2047 2,550 2,450 1,400 Bruce Power LP, 1,258 EPCOR Utilities, Inc., 4.13%, Jun 21, 2033 1,400 1,366 3.95%, Nov 26, 2048 1,258 1,296 47 Canada Life Assurance Co., 2,793 Fairfax Financial Holdings Ltd., 6.40%, Dec 11, 2028 52 59 4.95%, Mar 03, 2025 2,826 2,934 4,906 Canadian National Railway Co., 317 Fairfax Financial Holdings Ltd., 3.60%, Aug 01, 2047 4,842 4,768 4.70%, Dec 16, 2026 316 324 USD 1,343 CDP Financial, Inc., 1,629 First Capital Realty, Inc., 5.60%, Nov 25, 2039 2,162 2,304 3.60%, May 06, 2026 1,664 1,579 2,793 Choice Properties REIT, 1,290 First Nations Finance Authority, 4.06%, Nov 24, 2025 2,951 2,799 3.05%, Jun 01, 2028 1,278 1,289 138 Clarica Life Insurance Co., 186 FortisAlberta, Inc., 6.30%, May 15, 2028 150 169 7.06%, Feb 14, 2039 186 271 1,666 CU, Inc., 1,178 FortisAlberta, Inc., 4.54%, Oct 24, 2041 1,790 1,843 5.37%, Oct 30, 2039 1,421 1,441 3,105 CU, Inc., 1,862 FortisAlberta, Inc., 3.81%, Sep 10, 2042 2,842 3,096 4.54%, Oct 18, 2041 2,114 2,072 1,490 CU, Inc., 535 FortisAlberta, Inc., 4.72%, Sep 09, 2043 1,632 1,699 3.34%, Sep 21, 2046 509 492 6,331 CU, Inc., 174 FortisAlberta, Inc., 4.09%, Sep 02, 2044 6,500 6,595 4.99%, Jan 03, 2047 157 209 1,443 CU, Inc., 1,105 FortisAlberta, Inc., 3.76%, Nov 19, 2046 1,474 1,427 3.73%, Sep 18, 2048 1,105 1,092 1,254 CU, Inc., 466 FortisBC Energy, Inc., 3.95%, Nov 23, 2048 1,254 1,279 6.95%, Sep 21, 2029 540 610 560 Enbridge Gas Distribution, Inc., 89 FortisBC Energy, Inc., 6.16%, Dec 16, 2033 608 713 5.55%, Sep 25, 2036 87 110 1,783 Enbridge Gas Distribution, Inc., 212 FortisBC Energy, Inc., 5.21%, Feb 25, 2036 2,082 2,085 6.05%, Feb 15, 2038 212 277 3,119 Enbridge Gas Distribution, Inc., 199 FortisBC Energy, Inc., 4.00%, Aug 22, 2044 3,094 3,170 6.55%, Feb 24, 2039 198 276 931 Enbridge Pipelines, Inc., 2,593 FortisBC Energy, Inc., 3.00%, Aug 10, 2026 941 900 3.67%, Apr 09, 2046 2,650 2,556

The accompanying notes are an integral part of the financial statements.

41 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 512 FortisBC Energy, Inc., 465 Lower Mattagami Energy LP, 3.78%, Mar 06, 2047 533 513 4.94%, Sep 21, 2043 572 552 931 FortisBC Energy, Inc., 1,448 Lower Mattagami Energy LP, 3.69%, Oct 30, 2047 902 918 4.18%, Feb 23, 2046 1,496 1,545 922 FortisBC Energy, Inc., 2,005 McGill University Health Centre, 3.85%, Dec 07, 2048 921 934 5.36%, Dec 31, 2043 2,004 2,540 965 Greater Toronto Airports Authority, 652 Muskrat Falls / Labrador Transmission 6.45%, Dec 03, 2027 1,068 1,225 Assets Funding Trust, 1,070 Greater Toronto Airports Authority, 3.86%, Dec 01, 2048 786 764 7.05%, Jun 12, 2030 1,086 1,454 1,210 NAV CANADA, 84 Greater Toronto Airports Authority, 3.29%, Mar 30, 2048 1,210 1,168 6.47%, Feb 02, 2034 96 113 262 Newfoundland and Labrador Hydro, 791 Greater Toronto Airports Authority, 3.60%, Dec 01, 2045 248 265 3.26%, Jun 01, 2037 790 766 207 Nova Scotia Power, Inc., 931 Greater Toronto Airports Authority, 5.67%, Nov 14, 2035 201 251 5.63%, Jun 07, 2040 1,001 1,219 272 Nova Scotia Power, Inc., 419 Greater Toronto Airports Authority, 5.95%, Jul 27, 2039 271 347 5.30%, Feb 25, 2041 480 529 1,682 Ontario Electricity Financial Corp., 2,514 Greater Toronto Airports Authority, 8.25%, Jun 22, 2026 2,378 2,291 4.53%, Dec 02, 2041 2,633 2,894 616 Ontario School Boards Financing Corp., 2,207 Great-West Lifeco, Inc., 5.38%, Jun 25, 2032 633 697 6.67%, Mar 21, 2033 2,888 2,882 127 Ottawa MacDonald-Cartier International 1,397 Great-West Lifeco, Inc., Airport Authority, 6.00%, Nov 16, 2039 1,780 1,790 6.97%, May 25, 2032 150 161 466 Health Montreal Collective LP, 3,026 Pembina Pipeline Corp., 6.72%, Sep 30, 2049 621 599 3.71%, Aug 11, 2026 3,069 2,988 698 Husky Energy, Inc., 1,862 Pembina Pipeline Corp., 3.60%, Mar 10, 2027 697 671 4.24%, Jun 15, 2027 2,000 1,895 123 Hydro One, Inc., 465 Pembina Pipeline Corp., 6.93%, Jun 01, 2032 149 164 4.75%, Apr 30, 2043 472 445 546 Hydro One, Inc., 3,327 Pembina Pipeline Corp., 6.03%, Mar 03, 2039 546 709 4.81%, Mar 25, 2044 3,407 3,212 589 Hydro One, Inc., 570 Plenary Health Bridgepoint LP, 5.49%, Jul 16, 2040 588 726 7.25%, Aug 31, 2042 794 782 698 Hydro One, Inc., 884 Plenary Health Care Partnerships 4.59%, Oct 09, 2043 708 774 Humber LP, 2,793 Hydro One, Inc., 4.82%, Nov 30, 2044 1,021 1,020 4.17%, Jun 06, 2044 2,887 2,911 3,094 Plenary Properties LTAP LP, 2,746 Hydro One, Inc., 6.29%, Jan 31, 2044 4,129 3,981 3.91%, Feb 23, 2046 2,841 2,750 610 Power Corp. of Canada, 2,421 Hydro One, Inc., 4.46%, Jul 27, 2048 610 613 3.72%, Nov 18, 2047 2,425 2,348 365 Queen’s University, 1,049 Hydro-Québec, 6.10%, Nov 19, 2032 420 466 5.00%, Feb 15, 2045 1,149 1,390 4,064 Rogers Communications, Inc., 988 Hydro-Québec, 6.11%, Aug 25, 2040 4,921 4,793 5.00%, Feb 15, 2050 1,315 1,351 3,650 Scotiabank Capital Trust, FRN 2,759 Hydro-Québec, 5.65%, Dec 31, 2056 4,328 4,307 4.00%, Feb 15, 2055 3,325 3,283 3,572 Shaw Communications, Inc., 931 IGM Financial, Inc., 6.75%, Nov 09, 2039 4,309 4,260 7.11%, Mar 07, 2033 1,183 1,204 50 Simon Fraser University, 512 IGM Financial, Inc., 5.61%, Jun 10, 2043 55 65 4.56%, Jan 25, 2047 512 525 350 South Coast British Columbia 1,885 IGM Financial, Inc., Transportation Authority, 4.12%, Dec 09, 2047 1,885 1,796 3.15%, Nov 16, 2048 349 331 1,001 Inter Pipeline Ltd., 4,025 Sun Life Financial, Inc., 4.64%, May 30, 2044 1,028 949 5.40%, May 29, 2042 4,892 4,631 710 Investors Group, Inc., 600 TCHC Issuer Trust, 7.00%, Dec 31, 2032 841 916 4.88%, May 11, 2037 579 702

The accompanying notes are an integral part of the financial statements.

42 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 1,955 TELUS Corp., 15,773 Canadian Government Bond, 4.85%, Apr 05, 2044 1,930 1,954 2.75%, Dec 01, 2064 17,472 18,522 3,724 TELUS Corp., 1,006 Canadian Government Real Return Bond, 4.75%, Jan 17, 2045 3,884 3,663 0.50%, Dec 01, 2050 971 932 1,490 TELUS Corp., 158,922 162,051 4.40%, Jan 29, 2046 1,420 1,386 930 The Hospital for Sick Children, Municipal Bonds 3.4% 3.42%, Dec 07, 2057 930 899 929 City of Montreal, 931 Toronto Hydro Corp., 3.15%, Sep 01, 2028 916 935 5.54%, May 21, 2040 1,075 1,178 1,000 City of Montreal, 1,117 Toronto Hydro Corp., 4.25%, Dec 01, 2032 1,101 1,107 3.55%, Jul 28, 2045 1,115 1,083 4,729 City of Montreal, 1,424 Toronto Hydro Corp., 4.10%, Dec 01, 2034 5,037 5,121 3.49%, Feb 28, 2048 1,423 1,362 414 City of Montreal, 1,094 TransCanada PipeLines Ltd., 3.15%, Dec 01, 2036 398 398 6.28%, May 26, 2028 1,158 1,292 768 City of Montreal, 1,862 TransCanada PipeLines Ltd., 3.50%, Dec 01, 2038 769 770 4.35%, Jun 06, 2046 1,888 1,780 2,000 City of Montreal, 773 TransCanada PipeLines Ltd., 6.00%, Jun 01, 2043 2,928 2,823 4.18%, Jul 03, 2048 773 713 931 City of Ottawa, 1,955 TransCanada PipeLines Ltd., FRN 4.40%, Oct 22, 2033 1,061 1,050 4.65%, May 18, 2077 1,955 1,752 1,345 City of Ottawa, 1,524 Trillium Health Partners Volunteers, 4.60%, Jul 14, 2042 1,669 1,597 3.70%, Dec 20, 2058 1,524 1,518 4,723 City of Ottawa, 4,189 Union Gas Ltd., 3.10%, Jul 27, 2048 4,527 4,425 4.20%, Jun 02, 2044 4,377 4,392 1,000 City of Toronto, 318 University of British Columbia, 2.95%, Apr 28, 2035 913 942 6.65%, Dec 01, 2031 393 425 2,415 City of Toronto, 195 University of British Columbia, 3.50%, Jun 02, 2036 2,447 2,437 4.82%, Jul 26, 2035 191 228 641 City of Toronto, 299 University of Toronto, 3.25%, Jun 24, 2046 617 612 5.84%, Dec 15, 2043 342 411 695 City of Toronto, 186 Vancouver Airport Authority, 3.20%, Aug 01, 2048 693 658 7.43%, Dec 07, 2026 249 247 903 City of Vancouver, 1,254 Vancouver Airport Authority, 2.85%, Nov 03, 2027 901 897 3.66%, Nov 23, 2048 1,254 1,291 1,375 Regional Municipality of Peel, 323 Winnipeg Airport Authority, Inc., 4.25%, Dec 02, 2033 1,568 1,523 5.21%, Sep 28, 2040 314 371 1,058 Regional Municipality of Peel, 5.10%, Jun 29, 2040 1,229 1,327 241,804 242,364 5,121 The Regional Municipality of York, Federal Bonds 17.1% 4.05%, May 01, 2034 5,610 5,570 8,688 Canadian Government Bond, 32,384 32,192 2.25%, Jun 01, 2029 8,829 8,908 23,229 Canadian Government Bond, 911,331 917,032 5.75%, Jun 01, 2033 32,774 33,830 United States 1.6% 16,181 Canadian Government Bond, Corporate Bonds 1.0% 5.00%, Jun 01, 2037 23,010 23,176 USD 629 Anheuser-Busch Cos LLC / Anheuser-Busch 1,236 Canadian Government Bond, InBev Worldwide, Inc., 4.00%, Jun 01, 2041 1,463 1,631 3.65%, Feb 01, 2026 790 813 19,707 Canadian Government Bond, 959 AT&T, Inc., 3.50%, Dec 01, 2045 26,194 24,934 5.10%, Nov 25, 2048 954 915 1,641 Canadian Government Bond, 3,677 Citigroup, Inc., 1.25%, Dec 01, 2047 1,963 1,849 4.09%, Jun 09, 2025 3,676 3,690 37,471 Canadian Government Bond, 2.75%, Dec 01, 2048 40,459 42,137 6,408 Canadian Government Bond, 2.00%, Dec 01, 2051 5,787 6,132

The accompanying notes are an integral part of the financial statements.

43 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 754 Manulife Finance Delaware LP, SHORT-TERM INVESTMENTS 0.2% 5.06%, Dec 15, 2041 828 812 1,610 Merit Trust, 2,979 Wells Fargo & Co., 0.97%, Jan 02, 2019 1,610 1,610 2.98%, May 19, 2026 2,987 2,839 Total investments 932,054 938,143 9,235 9,069 Derivative assets 0.0% 72 Federal Bonds 0.6% Derivative liabilities (0.1%) (868) USD 271 United States Treasury Inflation Indexed Other assets less liabilities 1.1% 9,959 Bonds, Net assets attributable to 1.00%, Feb 15, 2048 356 351 unitholders 100.0% 947,306 USD 1,318 United States Treasury Note, 2.88%, Aug 15, 2028 1,704 1,828 CONCENTRATION RISK USD 2,782 United States Treasury Note, The following table summarizes the Fund’s concentration risk. 3.00%, Aug 15, 2048 3,592 3,783 % of net assets attributable to 5,652 5,962 unitholders 14,887 15,031 Portfolio by category December 31, 2018 December 31, 2017 Global 0.4% Bonds Canada Corporate Bonds 0.3% Provincial Bonds 50.7 51.4 USD 645 Sydney Airport Finance Co. Pty Ltd., Corporate Bonds 25.6 25.3 3.63%, Apr 28, 2026 819 844 Federal Bonds 17.1 14.4 2,272 Transurban Finance Co. Pty Ltd., Municipal Bonds 3.4 4.4 4.56%, Nov 14, 2028 2,272 2,375 United States 3,091 3,219 Corporate Bonds 1.0 1.4 Federal Bonds 0.6 0.1 Government Bonds 0.1% Global 866 NRW Bank, Corporate Bonds 0.3 0.1 4.50%, Mar 01, 2019 834 870 Government Bonds 0.1 0.1 Supranational Bonds 0.0% Short-Term Investments 0.2 0.8 313 European Investment Bank, Derivative liabilities (0.1) - Other assets less liabilities 1.1 2.0 4.60%, Jan 30, 2037 301 381 100.0 100.0 4,226 4,470 930,444 936,533

FORWARD FOREIGN CURRENCY CONTRACTS (0.1%) Purchased currency Sold currency Valueasat Valueasat Unrealized Counter- Settlement December 31, 2018 December 31, 2018 gain/loss party credit Contract price date Currency ($) (’000) Currency ($) (’000) ($) (’000) Counterparty rating USD 0.75470 Jan 31, 2019 USD 2,457 CAD 2,385 72 Royal Bank of Canada AA- Derivative assets 72 CAD 1.33627 Jan 31, 2019 CAD 54 USD 55 (1) Royal Bank of Canada AA- CAD 1.34040 Jan 31, 2019 CAD 603 USD 614 (11) HSBC Bank Canada AA- CAD 1.34703 Jan 31, 2019 CAD 1,215 USD 1,231 (16) Royal Bank of Canada AA- CAD 1.32059 Jan 31, 2019 CAD 12,987 USD 13,422 (435) Royal Bank of Canada AA- Derivative liabilities (463) Total (391)

The accompanying notes are an integral part of the financial statements.

44 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LONG DURATION FIXED INCOME POOLED FUND

FUTURES CONTRACTS (0.0%) Commitment Unrealized No. of Contract Futures Delivery amount Price as at gain/(loss) contracts price contracts date ($) (’000) December 31, 2018 (CAD $) (’000) (9) USD 139.78 U.S. Treasury Long Bond Futures Mar 20, 2019 USD 1,314 USD 146.00 (77) (120) EUR 161.79 Euro Bond Future Mar 07, 2019 EUR 19,625 EUR 163.54 (328) Derivative liabilities (405)

The accompanying notes are an integral part of the financial statements.

45 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

Assets Income Current assets Interest for distribution purposes 3,402 3,850 Investments, at fair value 84,109 85,659 Dividend income 2 - Cash 98 150 Foreign exchange gain (loss) on income 6 (8) Margin deposited on derivatives 816 34 Foreign exchange gain (loss) on currency (15) (56) Subscriptions receivable - 28 Other income (loss) - 6 Realized gain (loss) on sales of investments (607) 163 Receivable from investments sold 414 259 Realized gain (loss) on derivatives (728) 1,141 Interest, dividends and other receivables 676 637 Change in unrealized appreciation (depreciation) in Derivative assets 52 217 the value of investments (1,096) (1,237) 86,165 86,984 Change in unrealized appreciation (depreciation) in Liabilities the value of derivatives (1,047) 147 Current liabilities (83) 4,006 Redemptions payable 8 56 Expenses Payable on investments purchased 1,551 - Audit fees 5 7 Accrued expenses and other liabilities 16 22 Transfer agent fees 3 4 Derivative liabilities 973 91 Filing fees 1 5 2,548 169 Interest expense & bank charges - 1 Unitholder reporting costs 23 24 Net assets attributable to unitholders 83,617 86,815 Custodial fees 19 39 Net assets attributable to unitholders per unit Foreign withholding taxes 10 2 8.08 8.43 Transaction costs - 14 61 96 Increase (decrease) in net assets attributable to unitholders (144) 3,910 Increase (decrease) in net assets attributable to unitholders per unit (0.02) 0.33

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 86,815 116,583 Increase (decrease) in net assets attributable to unitholders (144) 3,910 Distribution to unitholders from: Net investment income (3,328) (3,802) Net realized gains - (771)

Total distributions to unitholders (3,328) (4,573)

Security transactions Proceeds from units issued 5,958 7,605 Reinvestments of distributions to unitholders 3,328 4,573 Redemption of units (9,012) (41,283)

Total security transactions 274 (29,105)

Net assets attributable to unitholders - end of year 83,617 86,815

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 10,302 13,581 Units issued 708 866 Units issued for reinvestment of distributions 412 543 Units redeemed (1,071) (4,688)

Units outstanding end of year 10,351 10,302

The accompanying notes are an integral part of the financial statements.

46 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 95.6% Increase (decrease) in net assets attributable to Canada 65.5% unitholders (144) 3,910 Corporate Bonds 30.2% Adjustments for: 79 407 International, Inc., Change in unrealized foreign exchange gain (loss) 6.47%, Jul 27, 2029 104 101 on currency 7 17 148 407 International, Inc., Realized gain (loss) on sales of investments 607 (163) 5.75%, Feb 14, 2036 180 183 Realized gain (loss) on derivatives 728 (1,141) 7 407 International, Inc., Change in unrealized appreciation (depreciation) in 4.45%, Nov 15, 2041 8 8 the value of investments 1,096 1,237 13 407 International, Inc., Change in unrealized appreciation (depreciation) in 4.19%, Apr 25, 2042 14 14 the value of derivatives 1,047 (147) 65 407 International, Inc., Purchases of investments (152,630) (250,875) 3.72%, May 11, 2048 65 64 Proceeds from disposition of investments 153,145 279,954 66 Aéroports de Montréal, Margin on derivatives (782) (4) 3.92%, Sep 26, 2042 65 70 Interest, dividends and other receivables (39) 269 85 Alberta Powerline LP, Accrued expenses and other liabilities (6) 14 4.07%, Dec 01, 2053 85 87 10 Algonquin Power Co., Net cash provided by (used in) operating 4.65%, Feb 15, 2022 11 10 activities 3,029 33,071 8 Alliance Pipeline LP, Cash flows from financing activities 7.18%, Jun 30, 2023 9 8 Proceeds from sale of units 5,986 8,115 31 AltaGas Ltd., Payments for units redeemed (9,060) (41,364) 4.40%, Mar 15, 2024 33 32 Net cash provided by (used in) financing 54 AltaGas Ltd., activities (3,074) (33,249) 3.84%, Jan 15, 2025 54 53 500 AltaGas Ltd., Change in unrealized foreign exchange gain (loss) 3.98%, Oct 04, 2027 487 482 on currency (7) (17) 11 AltaLink LP, Net increase (decrease) in cash (45) (178) 5.25%, Sep 22, 2036 13 13 Cash (bank overdraft) beginning of year 150 345 49 AltaLink LP, Cash (bank overdraft) end of year 98 150 4.46%, Nov 08, 2041 53 54 130 Bank of Montreal, Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 3,377 4,108 1.88%, Mar 31, 2021 130 128 Dividends received, net of foreign withholding taxes 2 - 400 Bank of Montreal, Interest paid - 1 1.61%, Oct 28, 2021 400 388 300 Bank of Montreal, 2.27%, Jul 11, 2022 300 294 330 Bank of Montreal, 2.70%, Sep 11, 2024 329 325 354 Bank of Montreal, 4.61%, Sep 10, 2025 401 388 95 Bank of Montreal, 3.32%, Jun 01, 2026 97 95 13 Bell Canada, Inc., 8.88%, Apr 17, 2026 18 17 120 Bell Canada, Inc., 3.60%, Sep 29, 2027 120 118 145 Bell Canada, Inc., 3.80%, Aug 21, 2028 144 144 13 Bell Canada, Inc., 7.85%, Apr 02, 2031 17 17 43 Bell Canada, Inc., 4.75%, Sep 29, 2044 43 43 164 Bell Canada, Inc., 4.35%, Dec 18, 2045 169 154

The accompanying notes are an integral part of the financial statements.

47 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 10 British Columbia Ferry Services, Inc., 36 Cominar REIT, 4.70%, Oct 23, 2043 11 12 3.62%, Jun 21, 2019 36 36 7 British Columbia Ferry Services, Inc., 165 Cominar REIT, 4.29%, Apr 28, 2044 7 8 4.94%, Jul 27, 2020 169 168 150 Brookfield Asset Management, Inc., 37 Co-operators Financial Services Ltd., 3.80%, Mar 16, 2027 150 145 5.78%, Mar 10, 2020 41 38 115 Brookfield Infrastructure Finance ULC, 200 Crew Energy, Inc., 4.19%, Sep 11, 2028 115 114 6.50%, Mar 14, 2024 196 169 195 Brookfield Renewable Partners ULC, 94 CU, Inc., 5.14%, Oct 13, 2020 215 202 5.56%, Oct 30, 2037 116 117 170 Brookfield Renewable Partners ULC, 32 CU, Inc., 4.79%, Feb 07, 2022 183 176 3.81%, Sep 10, 2042 31 32 16 Cadillac Fairview Finance Trust, 7 CU, Inc., 4.31%, Jan 25, 2021 18 17 4.56%, Nov 07, 2053 8 8 130 Canadian Imperial Bank of Commerce, 301 Enbridge Gas Distribution, Inc., 2.90%, Sep 14, 2021 130 130 6.90%, Nov 15, 2032 419 403 200 Canadian Imperial Bank of Commerce, 7 Enbridge Gas Distribution, Inc., 2.97%, Jul 11, 2023 200 200 5.21%, Feb 25, 2036 8 8 114 Canadian Imperial Bank of Commerce, 8 Enbridge Pipelines, Inc., 3.00%, Oct 28, 2024 115 114 5.33%, Apr 06, 2040 9 9 90 Canadian Imperial Bank of Commerce, 72 Enbridge Pipelines, Inc., 3.30%, May 26, 2025 91 91 4.55%, Sep 29, 2045 72 72 95 Canadian Imperial Bank of Commerce, 8 Enbridge Southern Lights LP, FRN 4.01%, Jun 30, 2040 9 8 3.42%, Jan 26, 2026 97 96 206 Enbridge, Inc., 55 Canadian Imperial Bank of Commerce, 4.26%, Feb 01, 2021 223 211 FRN 114 Enbridge, Inc., 3.45%, Apr 04, 2028 55 54 3.19%, Dec 05, 2022 114 114 39 Canadian Mortgage Pools, 25 Enbridge, Inc., 1.85%, Jun 01, 2019 39 39 3.94%, Jan 13, 2023 26 26 50 Canadian National Railway Co., 350 Enbridge, Inc., 3.60%, Aug 01, 2047 50 49 3.94%, Jun 30, 2023 375 358 55 Canadian National Railway Co., 62 Enbridge, Inc., 3.60%, Jul 31, 2048 54 53 3.95%, Nov 19, 2024 63 63 20 Canadian Western Bank, 325 Enbridge, Inc., FRN 2.88%, Mar 01, 2021 20 20 5.38%, Sep 27, 2077 314 300 116 Capital Desjardins, Inc., 260 Enbridge, Inc., FRN 5.19%, May 05, 2020 130 120 6.63%, Apr 12, 2078 267 261 8 Capital Desjardins, Inc., 60 Enercare Solutions, Inc., 4.95%, Dec 15, 2026 9 8 3.38%, Feb 21, 2022 60 60 103 CDP Financial, Inc., 9 Énergir, Inc., 4.60%, Jul 15, 2020 116 107 5.70%, Jul 10, 2036 11 11 109 Central 1 Credit Union, 30 ENMAX Corp., 1.87%, Mar 16, 2020 109 108 3.84%, Jun 05, 2028 30 31 135 Central 1 Credit Union, 25 EPCOR Utilities, Inc., 2.60%, Nov 07, 2022 135 132 5.65%, Nov 16, 2035 30 31 105 Chartwell Retirement Residences, 35 EPCOR Utilities, Inc., 4.21%, Apr 28, 2025 105 106 5.75%, Nov 24, 2039 44 45 136 Choice Properties LP, 50 EPCOR Utilities, Inc., 3.60%, Sep 20, 2022 136 137 4.55%, Feb 28, 2042 54 56 150 Choice Properties REIT, 50 EPCOR Utilities, Inc., 2.30%, Sep 14, 2020 149 148 3.55%, Nov 27, 2047 50 48 60 Choice Properties REIT, 320 Fairfax Financial Holdings Ltd., 3.50%, Feb 08, 2021 61 60 5.84%, Oct 14, 2022 348 346 55 Choice Properties REIT, 85 Fairfax Financial Holdings Ltd., 4.90%, Jul 05, 2023 60 58 4.25%, Dec 06, 2027 85 83 9 Choice Properties REIT, 4.29%, Feb 08, 2024 10 9

The accompanying notes are an integral part of the financial statements.

48 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 45 Fédération des caisses Desjardins du 45 HSBC Bank Canada, Québec, 2.54%, Jan 31, 2023 45 44 2.09%, Jan 17, 2022 45 44 22 Hydro One, Inc., 140 Fédération des caisses Desjardins du 5.49%, Jul 16, 2040 27 27 Québec, 23 Hydro One, Inc., 3.06%, Sep 11, 2023 140 141 4.59%, Oct 09, 2043 25 25 35 Finning International, Inc., 70 Hydro One, Inc., 3.23%, Jul 03, 2020 36 35 4.17%, Jun 06, 2044 79 73 55 First Capital Realty, Inc., 80 Hydro One, Inc., 3.95%, Dec 05, 2022 57 56 3.63%, Jun 25, 2049 80 76 220 First Capital Realty, Inc., 9 Hydro-Québec, 3.90%, Oct 30, 2023 221 221 11.00%, Aug 15, 2020 13 10 USD 100 First Quantum Minerals Ltd., 266 Hydro-Québec, 6.50%, Mar 01, 2024 126 114 5.00%, Feb 15, 2045 334 352 549 Ford Credit Canada Co., 20 Hydro-Québec, 2.45%, May 07, 2020 540 541 4.00%, Feb 15, 2055 24 24 75 Ford Credit Canada Co., 79 Industrial Alliance Insurance & Financial 2.71%, Feb 23, 2022 75 71 Services, Inc., FRN 280 Ford Credit Canada Co., 2.64%, Feb 23, 2027 79 78 2.77%, Jun 22, 2022 280 264 40 Intact Financial Corp., 70 Ford Credit Canada Co., 3.77%, Mar 02, 2026 40 41 3.35%, Sep 19, 2022 70 67 80 Inter Pipeline Ltd., 55 Ford Credit Canada Co., 2.73%, Apr 18, 2024 80 76 3.74%, May 08, 2023 55 53 35 Inter Pipeline Ltd., 9 FortisAlberta, Inc., 3.48%, Dec 16, 2026 35 34 5.37%, Oct 30, 2039 11 11 75 Ivanhoe Cambridge II, Inc., 10 FortisBC Energy, Inc., 2.91%, Jun 27, 2023 75 75 6.50%, May 01, 2034 13 13 47 Loblaw Cos., Ltd., 10 FortisBC Energy, Inc., 4.86%, Sep 12, 2023 53 50 5.55%, Sep 25, 2036 12 12 70 Loblaw Cos., Ltd., 40 FortisBC Energy, Inc., 3.92%, Jun 10, 2024 70 71 3.69%, Oct 30, 2047 40 39 126 Lower Mattagami Energy LP, 629 General Motors Financial of Canada Ltd., 4.18%, Feb 23, 2046 128 134 3.08%, May 22, 2020 629 628 60 Manulife Bank of Canada, 25 Genworth MI Canada, Inc., 2.08%, May 26, 2022 60 58 5.68%, Jun 15, 2020 27 26 100 Manulife Financial Corp., 100 Gibson Energy, Inc., 3.32%, May 09, 2028 100 100 5.38%, Jul 15, 2022 100 100 200 Manulife Financial Corp., FRN 250 Gibson Energy, Inc., 3.05%, Aug 20, 2029 200 195 5.25%, Jul 15, 2024 250 243 397 McGill University Health Centre, 53 Greater Toronto Airports Authority, 5.36%, Dec 31, 2043 473 503 6.47%, Feb 02, 2034 71 71 230 Morguard Corp., 27 Great-West Lifeco, Inc., 4.09%, May 14, 2021 231 230 4.65%, Aug 13, 2020 30 28 30 Morguard Corp., 62 Great-West Lifeco, Inc., 4.33%, Sep 15, 2022 30 30 6.67%, Mar 21, 2033 81 81 10 Muskrat Falls / Labrador Transmission 77 H&R REIT, Assets Funding Trust, 4.45%, Mar 02, 2020 79 78 3.63%, Jun 01, 2029 11 11 15 Health Montreal Collective LP, 50 National Bank of Canada, FRN 6.72%, Sep 30, 2049 19 19 3.18%, Feb 01, 2028 50 49 6 Hospital Infrastructure Partners NOH 21 New Brunswick F-M Project Co., Inc., Partnership, 6.47%, Nov 30, 2027 27 25 5.44%, Jan 31, 2045 7 7 190 Nissan Canada Financial Services, Inc., 562 HSBC Bank Canada, 2.42%, Oct 19, 2020 190 188 2.91%, Sep 29, 2021 568 562 100 Nissan Canada Financial Services, Inc., 80 HSBC Bank Canada, 2.61%, Mar 05, 2021 100 99 2.17%, Jun 29, 2022 80 78 55 Nissan Canada Financial Services, Inc., 3.15%, Sep 14, 2021 55 55

The accompanying notes are an integral part of the financial statements.

49 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 18 North Battleford Power LP, 30 RioCan REIT, 4.96%, Dec 31, 2032 20 20 3.21%, Sep 29, 2023 30 29 21 Northwestconnect Group Partnership, 18 Rogers Communications, Inc., 5.95%, Apr 30, 2041 26 25 6.56%, Mar 22, 2041 22 22 26 Nova Scotia Power, Inc., 126 Royal Bank of Canada, 4.15%, Mar 06, 2042 26 27 2.86%, Mar 04, 2021 130 126 75 NuVista Energy Ltd., 50 Royal Bank of Canada, 6.50%, Mar 02, 2023 75 71 1.65%, Jul 15, 2021 49 49 121 OMERS Realty Corp., 65 Royal Bank of Canada, 3.36%, Jun 05, 2023 124 123 1.58%, Sep 13, 2021 65 63 241 OMERS Realty Corp., 120 Royal Bank of Canada, 3.33%, Nov 12, 2024 242 245 3.30%, Sep 26, 2023 120 121 110 OMERS Realty Corp., 70 Royal Bank of Canada, 3.24%, Oct 04, 2027 110 111 2.48%, Jun 04, 2025 70 70 35 Ontario Electricity Financial Corp., 95 Royal Bank of Canada, 8.90%, Aug 18, 2022 50 43 3.45%, Sep 29, 2026 97 96 10 Ontario School Boards Financing Corp., 8 Royal Office Finance LP, 6.55%, Oct 19, 2026 13 12 5.21%, Nov 12, 2032 10 10 25 Ontario School Boards Financing Corp., 10 Scotiabank Capital Trust, FRN 5.38%, Jun 25, 2032 30 28 5.65%, Dec 31, 2056 11 12 167 OPB Finance Trust, 11 Shaw Communications, Inc., 1.88%, Feb 24, 2022 164 164 5.50%, Dec 07, 2020 12 11 67 OPB Finance Trust, 136 Shaw Communications, Inc., 2.98%, Jan 25, 2027 67 67 3.80%, Nov 02, 2023 136 137 500 Parkland Fuel Corp., 191 Shaw Communications, Inc., 5.75%, Sep 16, 2024 500 490 4.35%, Jan 31, 2024 202 197 119 Pembina Pipeline Corp., 90 Shaw Communications, Inc., 4.89%, Mar 29, 2021 130 123 3.80%, Mar 01, 2027 90 88 175 Pembina Pipeline Corp., 210 Smart REIT, 2.99%, Jan 22, 2024 174 170 4.05%, Jul 27, 2020 219 213 100 Pembina Pipeline Corp., 19 Smart REIT, 4.02%, Mar 27, 2028 100 99 3.75%, Feb 11, 2021 19 19 39 Pembina Pipeline Corp., 85 Smart REIT, 4.81%, Mar 25, 2044 40 38 3.73%, Jul 22, 2022 86 86 155 Pembina Pipeline Corp., 39 Smart REIT, 4.74%, Jan 21, 2047 155 149 3.99%, May 30, 2023 40 39 10 Plenary Health Care Partnerships 181 Smart REIT, Humber LP, 3.56%, Feb 06, 2025 181 177 4.82%, Nov 30, 2044 11 12 70 SNC-Lavalin Group, Inc., 25 Plenary Properties LTAP LP, 2.69%, Nov 24, 2020 70 69 6.29%, Jan 31, 2044 32 32 91 SNC-Lavalin Group, Inc., 100 PSP Capital, Inc., 3.24%, Mar 02, 2023 91 90 1.34%, Aug 18, 2021 100 98 21 SNC-Lavalin Innisfree McGill Finance, Inc., 46 PSP Capital, Inc., 6.63%, Jun 30, 2044 27 27 2.09%, Nov 22, 2023 46 45 36 Sun Life Financial, Inc., 1,250 PSP Capital, Inc., 4.57%, Aug 23, 2021 40 38 3.29%, Apr 04, 2024 1,305 1,297 54 Sun Life Financial, Inc., 247 PSP Capital, Inc., 2.60%, Sep 25, 2025 54 54 3.00%, Nov 05, 2025 247 252 120 Sun Life Financial, Inc., 253 Reliance LP, 2.75%, Nov 23, 2027 120 118 3.81%, Sep 15, 2020 253 256 250 Superior Plus LP, 75 Reliance LP, 5.25%, Feb 27, 2024 254 236 4.08%, Aug 02, 2021 75 76 22 TCHC Issuer Trust, 80 Reliance LP, 4.88%, May 11, 2037 26 26 3.84%, Mar 15, 2025 80 79 56 TELUS Communications, Inc., 60 RioCan REIT, 8.80%, Sep 22, 2025 80 73 3.75%, May 30, 2022 60 61 40 TELUS Corp., 3.60%, Jan 26, 2021 41 41

The accompanying notes are an integral part of the financial statements.

50 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 299 TELUS Corp., 23 Vancouver Airport Authority, 3.75%, Jan 17, 2025 304 302 7.43%, Dec 07, 2026 32 31 101 TELUS Corp., 111 VW Credit Canada, Inc., 3.75%, Mar 10, 2026 104 101 2.90%, Mar 29, 2021 111 110 20 TELUS Corp., 50 VW Credit Canada, Inc., 3.63%, Mar 01, 2028 19 20 3.70%, Nov 14, 2022 50 50 106 TELUS Corp., 19 Westcoast Energy, Inc., 5.15%, Nov 26, 2043 113 110 8.85%, Jul 21, 2025 26 25 80 TELUS Corp., 6 Winnipeg Airport Authority, Inc., 4.40%, Jan 29, 2046 80 74 5.21%, Sep 28, 2040 7 7 6 The 55 Ontario School Board Trust, 10 Winnipeg Airport Authority, Inc., 5.90%, Jun 02, 2033 8 8 3.66%, Sep 30, 2047 10 10 50 The Bank of Nova Scotia, 25,703 25,267 3.27%, Jan 11, 2021 53 51 65 The Bank of Nova Scotia, Provincial Bonds 18.1% 1.90%, Dec 02, 2021 64 63 57 Financement-Québec, 85 The Bank of Nova Scotia, 5.25%, Jun 01, 2034 72 71 1.83%, Apr 27, 2022 85 82 9 Labrador-Island Link Funding Trust, 75 The Bank of Nova Scotia, 3.76%, Jun 01, 2033 10 10 2.36%, Nov 08, 2022 75 74 40 Labrador-Island Link Funding Trust, 177 The Bank of Nova Scotia, 3.85%, Dec 01, 2053 47 47 2.98%, Apr 17, 2023 177 177 580 Province of Alberta, 180 The Bank of Nova Scotia, 2.20%, Jun 01, 2026 560 558 2.29%, Jun 28, 2024 180 174 260 Province of Alberta, 45 The Empire Life Insurance Co., FRN 3.30%, Dec 01, 2046 277 260 3.66%, Mar 15, 2028 45 45 675 Province of Alberta, 242 The Manufacturers Life Insurance Co., 3.05%, Dec 01, 2048 637 646 2.39%, Jan 05, 2026 242 239 101 Province of British Columbia, 158 The Manufacturers Life Insurance Co., 3.30%, Dec 18, 2023 106 105 3.18%, Nov 22, 2027 158 159 95 Province of British Columbia, 425 The Toronto-Dominion Bank, 5.70%, Jun 18, 2029 124 120 2.05%, Mar 08, 2021 427 420 11 Province of British Columbia, 495 The Toronto-Dominion Bank, 6.35%, Jun 18, 2031 16 15 3.23%, Jul 24, 2024 535 502 72 Province of British Columbia, 115 The Toronto-Dominion Bank, 4.70%, Jun 18, 2037 87 89 3.59%, Sep 14, 2028 115 115 178 Province of British Columbia, 10 The Toronto-Dominion Bank, FRN 4.95%, Jun 18, 2040 230 231 2.69%, Jun 24, 2025 10 10 212 Province of British Columbia, 41 The Toronto-Dominion Bank, FRN 2.80%, Jun 18, 2048 206 201 2.98%, Sep 30, 2025 41 41 47 Province of British Columbia, 5 The Toronto-Dominion Bank, FRN 2.95%, Jun 18, 2050 45 46 3.22%, Jul 25, 2029 5 5 39 Province of British Columbia Interest Strip, 33 Thomson Reuters Corp., zero coupon, Dec 18, 2023 35 34 3.31%, Nov 12, 2021 34 33 49 Province of Manitoba, 105 TMX Group Ltd., 1.55%, Sep 05, 2021 49 48 3.00%, Dec 11, 2024 105 104 102 Province of Manitoba, 60 Toromont Industries Ltd., 4.60%, Mar 05, 2038 120 121 3.84%, Oct 27, 2027 60 60 119 Province of Manitoba, 30 Toronto Hydro Corp., 4.65%, Mar 05, 2040 141 143 3.49%, Feb 28, 2048 30 29 26 Province of Manitoba, 14 TransCanada PipeLines Ltd., 3.35%, Mar 05, 2043 26 26 6.28%, May 26, 2028 17 17 154 Province of Manitoba, 100 TransCanada PipeLines Ltd., 4.05%, Sep 05, 2045 170 173 4.35%, Jun 06, 2046 101 96 382 Province of Manitoba, 80 TransCanada PipeLines Ltd., 2.85%, Sep 05, 2046 350 347 4.33%, Sep 16, 2047 80 76 53 Province of Manitoba, 50 TransCanada PipeLines Ltd., 3.40%, Sep 05, 2048 53 54 4.18%, Jul 03, 2048 50 46

The accompanying notes are an integral part of the financial statements.

51 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 1,000 Province of Newfoundland and Labrador, 14 Province of Saskatchewan, 1.95%, Jun 02, 2022 984 985 3.40%, Feb 03, 2042 14 14 69 Province of Nova Scotia, 567 Province of Saskatchewan, 2.10%, Jun 01, 2027 69 65 3.30%, Jun 02, 2048 579 572 300 Province of Nova Scotia, 15,161 15,096 3.45%, Jun 01, 2045 332 311 1,281 Province of Ontario, Federal Bonds 13.7% 3.50%, Jun 02, 2024 1,365 1,342 232 Canada Housing Trust No. 1, 60 Province of Ontario, 2.55%, Dec 15, 2023 233 235 2.65%, Feb 05, 2025 60 60 800 Canada Housing Trust No. 1, 250 Province of Ontario, 1.95%, Dec 15, 2025 799 777 2.90%, Jun 02, 2028 247 252 1,385 Canada Housing Trust No. 1, 389 Province of Ontario, 1.90%, Sep 15, 2026 1,385 1,332 5.85%, Mar 08, 2033 521 514 3,929 Canada Housing Trust No. 1, 420 Province of Ontario, 2.35%, Jun 15, 2027 3,943 3,894 5.60%, Jun 02, 2035 590 553 125 Canada Housing Trust No. 1, 933 Province of Ontario, 2.65%, Dec 15, 2028 124 126 4.70%, Jun 02, 2037 1,118 1,134 30 Canadian Government Bond, 81 Province of Ontario, 1.50%, Jun 01, 2026 28 29 4.60%, Jun 02, 2039 98 98 783 Canadian Government Bond, 503 Province of Ontario, 2.00%, Jun 01, 2028 772 786 4.65%, Jun 02, 2041 596 619 134 Canadian Government Bond, 857 Province of Ontario, 5.75%, Jun 01, 2029 199 181 3.45%, Jun 02, 2045 859 894 700 Canadian Government Bond, 229 Province of Ontario, 5.75%, Jun 01, 2033 1,115 1,019 2.90%, Dec 02, 2046 240 216 119 Canadian Government Bond, 27 Province of Ontario, 4.00%, Jun 01, 2041 151 157 2.80%, Jun 02, 2048 24 25 468 Canadian Government Bond, 92 Province of Ontario, 3.50%, Dec 01, 2045 620 592 2.90%, Jun 02, 2049 90 87 2,028 Canadian Government Bond, 34 Province of Quebec, 2.75%, Dec 01, 2048 2,227 2,281 2.45%, Mar 01, 2023 34 34 29 Canadian Government Bond Residual 652 Province of Quebec, Strip, 8.50%, Apr 01, 2026 948 898 zero coupon, Jun 01, 2041 17 18 766 Province of Quebec, 21 Canadian Government Real Return Bond, 6.00%, Oct 01, 2029 1,006 987 0.50%, Dec 01, 2050 20 19 166 Province of Quebec, 11,633 11,446 6.25%, Jun 01, 2032 227 226 Municipal Bonds 3.4% 74 Province of Quebec, 161 City of Montreal, 5.00%, Dec 01, 2038 93 95 3.50%, Sep 01, 2024 170 167 604 Province of Quebec, 800 City of Montreal, 4.25%, Dec 01, 2043 688 719 3.00%, Sep 01, 2025 809 806 223 Province of Quebec, 166 City of Montreal, 3.50%, Dec 01, 2045 218 237 3.00%, Sep 01, 2027 166 166 341 Province of Quebec, 68 City of Montreal, 3.50%, Dec 01, 2048 360 365 3.15%, Sep 01, 2028 67 68 698 Province of Quebec Residual Strip, 44 City of Montreal, zero coupon, Dec 01, 2043 309 320 4.25%, Dec 01, 2032 48 49 71 Province of Saskatchewan, 43 City of Ottawa, 3.20%, Jun 03, 2024 74 73 3.10%, Jul 27, 2048 41 40 16 Province of Saskatchewan, 16 City of Toronto, 5.80%, Sep 05, 2033 22 21 3.50%, Dec 06, 2021 17 17 18 Province of Saskatchewan, 400 City of Toronto, 5.60%, Sep 05, 2035 24 24 3.40%, May 21, 2024 413 413 9 Province of Saskatchewan, 21 City of Toronto, 5.00%, Mar 05, 2037 11 11 3.50%, Jun 02, 2036 22 21

The accompanying notes are an integral part of the financial statements.

52 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 377 City of Toronto, USD 150 BWX Technologies, Inc., 5.20%, Jun 01, 2040 465 477 5.38%, Jul 15, 2026 193 198 28 City of Toronto, USD 400 Calumet Specialty Products Partners LP / 4.70%, Jun 10, 2041 33 33 Calumet Finance, 426 Municipal Finance Authority of British 6.50%, Apr 15, 2021 449 458 Columbia, USD 250 CCO Holdings LLC/CCO Holdings Capital 3.75%, Sep 26, 2023 458 449 Corp., 42 Municipal Finance Authority of British 5.00%, Feb 01, 2028 314 315 Columbia, USD 125 Chesapeake Energy Corp., 4.95%, Dec 01, 2027 49 49 5.50%, Sep 15, 2026 147 138 8 Regional Municipality of Peel, USD 81 CHS/Community Health Systems, Inc., 5.10%, Jun 29, 2040 10 10 6.88%, Feb 01, 2022 70 51 12 Regional Municipality of Peel, USD 14 CHS/Community Health Systems, Inc., 3.85%, Oct 30, 2042 12 13 8.13%, Jun 30, 2024 15 14 14 South Coast British Columbia 168 Citigroup, Inc., Transportation Authority, 3.39%, Nov 18, 2021 170 169 4.45%, Jun 09, 2044 16 16 USD 17 Citigroup, Inc., 12 The Regional Municipality of York, 5.30%, May 06, 2044 21 23 5.00%, Apr 29, 2019 13 12 USD 200 Crown Americas LLC / Crown Americas 31 The Regional Municipality of York, Capital Corp VI, 4.00%, Jun 30, 2021 34 32 4.75%, Feb 01, 2026 249 258 30 The Regional Municipality of York, USD 137 CSI Compressco LP / CSI Compressco 2.35%, Jun 09, 2027 30 29 Finance, Inc., 2,873 2,867 7.25%, Aug 15, 2022 167 166 USD 100 CSI Compressco LP / CSI Compressco Term Loans 0.1% Finance, Inc., USD 48 Valeant Pharmaceuticals International, 7.50%, Apr 01, 2025 128 128 Inc., USD 200 Dean Foods Co., 5.74%, May 30, 2025 62 63 6.50%, Mar 15, 2023 251 219 55,432 54,739 USD 250 Discover Financial Services, FRN 5.50%, Dec 31, 2049 321 284 United States 26.4% USD 100 Eldorado Resorts, Inc., Corporate Bonds 19.6% 6.00%, Sep 15, 2026 132 129 USD 250 Albertsons Cos. LLC / Safeway, Inc. / New USD 150 Extraction Oil & Gas, Inc., Albertson’s, Inc. / Albertson’s LLC, 5.63%, Feb 01, 2026 184 151 6.63%, Jun 15, 2024 327 318 USD 100 Flex Acquisition Company, Inc., USD 250 Albertsons Cos. LLC / Safeway, Inc. / New 7.88%, Jul 15, 2026 133 123 Albertson’s, Inc. / Albertson’s LLC, USD 200 Freedom Mortgage Corp., 5.75%, Mar 15, 2025 326 300 8.13%, Nov 15, 2024 261 236 USD 250 AMC Entertainment Holdings, Inc., USD 275 FTS International, Inc., 6.13%, May 15, 2027 324 294 6.25%, May 01, 2022 349 336 USD 100 AmeriGas Partners LP / AmeriGas Finance USD 100 General Electric Co., Corp., 5.00%, Dec 31, 2049 123 105 5.88%, Aug 20, 2026 128 125 USD 75 Halcon Resources Corp., USD 200 Archrock Partners LP / Archrock Partners 6.75%, Feb 15, 2025 91 75 Finance Corp., USD 250 Hughes Satellite Systems Corp., 6.00%, Apr 01, 2021 258 264 5.25%, Aug 01, 2026 326 314 130 AT&T, Inc., USD 397 iStar, Inc., 4.00%, Nov 25, 2025 130 130 5.00%, Jul 01, 2019 534 541 USD 75 Avaya Holdings Corp., USD 250 iStar, Inc., 2.25%, Jun 15, 2023 91 88 5.25%, Sep 15, 2022 321 320 105 Bank of America Corp., FRN USD 150 Kronos Acquisition Holdings, Inc., 3.30%, Apr 24, 2024 105 104 9.00%, Aug 15, 2023 181 158 610 Bank of America Corp., FRN USD 400 Lennar Corp., 3.41%, Sep 20, 2025 605 605 2.95%, Nov 29, 2020 524 531 USD 250 BWAY Holdings Co., USD 350 Lennar Corp., 7.25%, Apr 15, 2025 334 308 4.75%, Nov 29, 2027 447 433

The accompanying notes are an integral part of the financial statements.

53 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 200 Mercer International, Inc., USD 150 Ultra Resources, Inc., 5.50%, Jan 15, 2026 255 246 7.13%, Apr 15, 2025 166 63 359 Metropolitan Life Global Funding I, USD 500 United Rentals North America, Inc., 3.03%, Jun 11, 2020 366 361 4.88%, Jan 15, 2028 621 601 USD 150 MGM Resorts International, USD 100 ViaSat, Inc., 5.75%, Jun 15, 2025 196 199 5.63%, Sep 15, 2025 124 126 USD 53 Micron Technology, Inc., 185 Wells Fargo & Co., 5.50%, Feb 01, 2025 57 71 2.09%, Apr 25, 2022 185 179 320 Morgan Stanley, 190 Wells Fargo & Co., 3.00%, Feb 07, 2024 320 312 2.98%, May 19, 2026 190 181 USD 100 Nabors Industries, Inc., USD 100 West Corp., 5.75%, Feb 01, 2025 121 104 8.50%, Oct 15, 2025 121 109 USD 300 Nationstar Mortgage LLC / Nationstar USD 100 Western Digital Corp., Capital Corp., 4.75%, Feb 15, 2026 118 119 6.50%, Jun 01, 2022 312 402 USD 250 Williams Scotsman International, Inc., USD 150 Netflix, Inc., 6.88%, Aug 15, 2023 326 329 5.88%, Nov 15, 2028 192 200 USD 43 Windstream Services LLC / Windstream USD 200 NGL Energy Partners LP / NGL Energy Finance Corp., Finance Corp., 9.00%, Jun 30, 2025 39 40 6.13%, Mar 01, 2025 261 236 USD 37 Windstream Services LLC / Windstream USD 100 Oasis Petroleum, Inc., Finance Corp., 6.25%, May 01, 2026 130 115 8.63%, Oct 31, 2025 40 45 USD 400 Post Holdings, Inc., USD 250 Wyndham Worldwide Corp., 5.00%, Aug 15, 2026 529 500 6.35%, Oct 01, 2025 326 333 USD 475 Prime Security Services Borrower LLC / 16,857 16,363 Prime Finance, Inc., 9.25%, May 15, 2023 650 671 Term Loans 6.1% USD 200 Qorvo, Inc., USD 247 Avaya, Inc., 5.50%, Jul 15, 2026 264 262 7.05%, Dec 15, 2024 328 327 USD 100 Refinitiv US Holdings, Inc., USD 124 BWAY Corp., 8.25%, Nov 15, 2026 129 125 5.95%, Apr 03, 2024 158 160 USD 97 Reynolds Group Issuer, Inc. / Reynolds USD 244 Cengage Learning, Inc., Group Issuer LLC / Reynolds Group Issuer 7.03%, Jun 07, 2023 316 287 Lu, USD 150 Financial & Risk US Holdings, Inc., 5.75%, Oct 15, 2020 130 132 6.56%, Oct 01, 2025 193 196 USD 125 Simmons Foods, Inc., USD 63 Gentiva Health Services, Inc., 5.75%, Nov 01, 2024 124 122 6.55%, Jul 02, 2025 83 84 USD 125 Sprint Corp., USD 46 Gentiva Health Services, Inc., 7.25%, Sep 15, 2021 165 175 9.80%, Jul 02, 2026 61 63 USD 150 Standard Industries, Inc., USD 100 IQVIA, Inc., 4.75%, Jan 15, 2028 174 173 4.53%, Jun 11, 2025 129 132 USD 200 Starwood Property Trust, Inc., USD 149 iStar, Inc., 4.75%, Mar 15, 2025 253 246 5.55%, Jun 28, 2023 198 196 USD 50 Targa Resources Partners LP / Targa USD 75 Marriott Ownership Resorts, Inc., Resources Partners Finance Corp., 4.99%, Aug 29, 2025 97 100 USD 149 McGraw-Hill Global Education 4.25%, Nov 15, 2023 62 63 USD 150 Team Health Holdings, Inc., Holdings LLC, 6.38%, Feb 01, 2025 173 168 6.81%, May 04, 2022 186 184 USD 250 Tempur Sealy International, Inc., USD 125 Metro-Goldwyn-Mayer, Inc., 5.50%, Jun 15, 2026 329 313 7.30%, Jul 06, 2026 163 160 USD 250 The GEO Group, Inc., USD 100 Micron Technology, Inc., 6.00%, Apr 15, 2026 331 301 4.53%, Apr 26, 2022 132 134 100 The Goldman Sachs Group, Inc., FRN USD 100 Navistar Financial Corp., 3.31%, Oct 31, 2025 100 97 6.30%, Jul 30, 2025 130 131 USD 200 Toll Brothers Finance Corp., USD 100 NCI Building Systems, Inc., 4.35%, Feb 15, 2028 249 235 6.54%, Apr 12, 2025 129 124 USD 449 Prime Security Services Borrower LLC, 5.55%, May 02, 2022 586 586

The accompanying notes are an integral part of the financial statements.

54 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 149 Rackspace Hosting, Inc., USD 125 Seagate HDD Cayman, 5.83%, Nov 03, 2023 186 181 4.25%, Mar 01, 2022 159 163 USD 117 Revlon Consumer Products Corp., 30 Transurban Finance Co. Pty Ltd., 6.02%, Sep 07, 2023 131 115 4.56%, Nov 14, 2028 30 31 USD 244 Reynolds Group Holdings, Inc., 1,950 1,964 5.36%, Feb 05, 2023 319 319 USD 50 Space Exploration Technologies Corp., Term Loans 0.8% 6.93%, Nov 21, 2025 66 68 USD 491 Sable International Finance Ltd., USD 175 SS&C Technologies, Inc., 6.03%, Jan 31, 2026 629 650 5.06%, Apr 16, 2025 229 226 USD 46 SS&C Technologies Holdings Europe Sarl, USD 247 Team Health Holdings, Inc., 5.03%, Apr 16, 2025 58 59 5.35%, Feb 06, 2024 306 304 687 709 USD 245 TransDigm, Inc., Supranational Bonds 0.4% 5.24%, Jun 09, 2023 316 317 15 EUROFIMA, USD 199 Uber Technologies, Inc., 5.15%, Dec 13, 2019 17 15 6.81%, Apr 04, 2025 258 265 76 European Investment Bank, USD 50 UFC Holdings, LLC, 2.38%, Jan 18, 2023 76 77 6.03%, Aug 18, 2023 64 66 10 European Investment Bank, USD 100 West Corp., 4.60%, Jan 30, 2037 12 12 6.28%, Oct 10, 2024 128 125 48 Inter-American Development Bank, USD 199 WP CPP Holdings LLC, 1.88%, Mar 20, 2020 49 48 6.31%, Apr 30, 2025 257 264 32 Inter-American Development Bank, 5,149 5,114 4.40%, Jan 26, 2026 37 36 Federal Bonds 0.7% 76 International Bank for Reconstruction & USD 140 United States Treasury Note, Development, 1.88%, Feb 28, 2022 187 188 2.25%, Jan 17, 2023 75 76 USD 105 United States Treasury Note, 86 International Bank for Reconstruction & 2.25%, Feb 15, 2027 138 139 Development, USD 25 United States Treasury Note, 2.50%, Aug 03, 2023 86 87 2.25%, Nov 15, 2027 31 33 352 351 USD 199 United States Treasury Note, Government Bonds 0.1% 3.00%, Aug 15, 2048 248 271 31 NRW Bank, 604 631 4.50%, Mar 01, 2019 34 31 22,610 22,108 25 Svensk Exportkredit AB, 4.45%, Mar 15, 2019 27 25 Global 3.7% Corporate Bonds 2.4% 61 56 USD 100 Ardagh Packaging Finance PLC / Ardagh 3,050 3,080 Holdings USA, Inc., 81,092 79,927 4.63%, May 15, 2023 129 131 80 BP Capital Markets PLC, SHORT-TERM INVESTMENTS 4.9% 3.47%, May 15, 2025 80 80 USD 600 Federal Home Loan Bank Discount Notes, USD 250 C&W Senior Financing Designated Activity 1.06%, Jan 02, 2019 819 819 Co., 3,290 Merit Trust 6.88%, Sep 15, 2027 318 315 0.98%, Jan 02, 2019 3,290 3,290 158 Heathrow Funding Ltd., 4,109 4,109 3.00%, Jun 17, 2021 160 158 269 Heathrow Funding Ltd., 3.25%, May 21, 2027 267 268 50 Heathrow Funding Ltd., 3.40%, Mar 08, 2028 50 49 100 HSBC Holdings PLC, 3.20%, Dec 05, 2023 99 99 USD 400 Intelsat Luxembourg SA, 8.13%, Jun 01, 2023 432 426 USD 202 Mexico City Airport Trust, 5.50%, Oct 31, 2046 226 244

The accompanying notes are an integral part of the financial statements.

55 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) EQUITIES 0.1% Global 0.1% Energy 0.1% 3,000 Nabors Industries Ltd., Preferred 6.00%, Expiry May 01, 2021 171 73 171 73 Total investments 85,372 84,109 Derivative assets 0.1% 52 Derivative liabilities (1.2%) (973) Other assets less liabilities 0.5% 429 Net assets attributable to unitholders 100.0% 83,617

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Bonds Canada Corporate Bonds 30.2 32.7 Provincial Bonds 18.1 23.4 Federal Bonds 13.7 15.7 Municipal Bonds 3.4 3.3 Term Loans 0.1 0.4 United States Corporate Bonds 19.6 15.9 Term Loans 6.1 3.2 Federal Bonds 0.7 0.4 Global Corporate Bonds 2.4 2.2 Term Loans 0.8 0.4 Supranational Bonds 0.4 0.1 Government Bonds 0.1 0.1 Short-Term Investments 4.9 0.8 Equities Global Energy 0.1 - United States Information Technology - 0.1 Derivative assets 0.1 0.2 Derivative liabilities (1.2) (0.1) Other assets less liabilities 0.5 1.2 100.0 100.0

The accompanying notes are an integral part of the financial statements.

56 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE PLUS FIXED INCOME POOLED FUND

FORWARD FOREIGN CURRENCY CONTRACTS (0.9%) Purchased currency Sold currency Valueasat Value as at Unrealized Counter- Settlement December 31, 2018 December 31, 2018 gain/loss party credit Contract price date Currency ($) (’000) Currency ($) (’000) ($) (’000) Counterparty rating USD 0.74667 Jan 11, 2019 USD 765 CAD 750 15 Royal Bank of Canada AA- USD 0.76020 Jan 11, 2019 USD 359 CAD 346 13 Bank of Montreal A+ USD 0.75921 Jan 11, 2019 USD 227 CAD 219 8 Bank of Montreal A+ USD 0.75292 Jan 11, 2019 USD 213 CAD 207 6 Bank of Montreal A+ USD 0.76010 Jan 11, 2019 USD 109 CAD 105 4 State Street Bank and Trust Company A USD 0.74620 Jan 11, 2019 USD 149 CAD 146 3 Bank of Montreal A+ USD 0.76176 Jan 11, 2019 USD 68 CAD 66 2 Royal Bank of Canada AA- USD 0.74069 Jan 11, 2019 USD 107 CAD 106 1 Royal Bank of Canada AA- Derivative assets 52 CAD 1.34720 Jan 11, 2019 CAD 147 USD 149 (2) Bank of Montreal A+ CAD 1.35161 Jan 11, 2019 CAD 162 USD 164 (2) Toronto Dominion Bank AA- CAD 1.35787 Jan 11, 2019 CAD 679 USD 683 (4) HSBC Bank Canada AA- CAD 1.30993 Jan 11, 2019 CAD 18,923 USD 19,725 (802) Canadian Imperial Bank of Commerce A+ Derivative liabilities (810) Total (758) FUTURES CONTRACTS (0.2%) Commitment Unrealized No. of Contract Futures Delivery amount Price as at gain/(loss) contracts price contracts date ($) (’000) December 31, 2018 (CAD $) (’000) (9) EUR 161.79 Euro Bond Future Mar 07, 2019 EUR 1,472 EUR 163.54 (25) (31) CAD 132.30 Canada 10y Bond Future Mar 20, 2019 CAD 4,240 CAD 136.77 (138) Derivative liabilities (163)

The accompanying notes are an integral part of the financial statements.

57 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED FUND FUND

STATEMENT OF FINANCIAL POSITION STATEMENT OF COMPREHENSIVE INCOME As at December 31, 2018 For the period ended December 31 2018 ($ in thousands except for per unit amounts) ($ in thousands except for per unit amounts)

Assets Income Current assets Interest for distribution purposes 899 Investments, at fair value 33,662 Realized gain (loss) on sales of investments (11) Cash 28 Change in unrealized appreciation (depreciation) in the value of Subscriptions receivable 43 investments (192) Interest, dividends and other receivables 271 Change in unrealized appreciation (depreciation) in the value of Derivative assets 3 derivatives (1) 34,007 695 Liabilities Expenses Audit fees 4 Current liabilities Transfer agent fees 2 Redemptions payable 22 Unitholder reporting costs 8 Accrued expenses and other liabilities 9 Custodial fees 6 Derivative liabilities 4 20 35 Increase (decrease) in net assets attributable to unitholders 675 Net assets attributable to unitholders 33,972 Increase (decrease) in net assets attributable to unitholders per unit Net assets attributable to unitholders per unit 0.26 9.92

STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the period ended December 31 2018 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of period - Increase (decrease) in net assets attributable to unitholders 675 Distribution to unitholders from: Net investment income (880)

Total distributions to unitholders (880)

Security transactions Proceeds from units issued 42,492 Reinvestments of distributions to unitholders 880 Redemption of units (9,195)

Total security transactions 34,177

Net assets attributable to unitholders - end of period 33,972

Changes due to unitholder transactions (Note 4) Units outstanding beginning of period - Units issued 4,244 Units issued for reinvestment of distributions 89 Units redeemed (909)

Units outstanding end of period 3,424

The accompanying notes are an integral part of the financial statements.

58 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED FUND FUND

STATEMENT OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the period ended December 31 2018 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 98.2% Increase (decrease) in net assets attributable to unitholders 675 Canada 90.7% Adjustments for: Corporate Bonds 88.3% Realized gain (loss) on sales of investments 11 180 407 International, Inc., Change in unrealized appreciation (depreciation) in the value of 3.83%, May 11, 2046 182 181 investments 192 275 407 International, Inc., Change in unrealized appreciation (depreciation) in the value of 3.60%, May 21, 2047 268 266 derivatives 1 230 Aéroports de Montréal, Purchases of investments (42,225)* 6.55%, Oct 11, 2033 316 312 Proceeds from disposition of investments 45,613 38 Alliance Pipeline LP, Interest, dividends and other receivables (271) 7.18%, Jun 30, 2023 42 42 Accrued expenses and other liabilities 9 17 Alliance Pipeline LP, 5.55%, Dec 31, 2023 18 18 Net cash provided by (used in) operating activities 4,005 100 Allied Properties REIT, Cash flows from financing activities 3.64%, Apr 21, 2025 96 96 Proceeds from sale of units 5,196* 385 AltaGas Ltd., Payments for units redeemed (9,173) 3.98%, Oct 04, 2027 375 371 Net cash provided by (used in) financing activities (3,977) 470 AltaLink LP, 3.72%, Dec 03, 2046 473 465 Net increase (decrease) in cash 28 104 Arrow Lakes Power Corp., Cash (bank overdraft) beginning of period - 5.52%, Apr 05, 2041 121 124 Cash (bank overdraft) end of period 28 265 Bank of Montreal, Supplemental information on cash flows from operating activities: 1.61%, Oct 28, 2021 255 257 Interest received, net of foreign withholding taxes 628 175 Bank of Montreal, 2.27%, Jul 11, 2022 171 172 * Excludes in-kind transactions. 210 Bell Canada, Inc., 3.00%, Oct 03, 2022 210 208 325 Bell Canada, Inc., 3.35%, Mar 22, 2023 328 325 220 Bell Canada, Inc., 3.60%, Sep 29, 2027 218 216 20 Bell Canada, Inc., 7.30%, Feb 23, 2032 26 26 200 Bell Canada, Inc., 6.17%, Feb 26, 2037 245 238 65 Bell Canada, Inc., 4.45%, Feb 27, 2047 65 62 115 British Columbia Ferry Services, Inc., 5.02%, Mar 20, 2037 137 136 345 Brookfield Asset Management, Inc., 3.80%, Mar 16, 2027 340 333 75 Brookfield Infrastructure Finance ULC, 4.19%, Sep 11, 2028 75 74 230 Brookfield Property Finance ULC, 4.12%, Oct 19, 2021 230 232 185 Brookfield Property Finance ULC, 4.35%, Jul 03, 2023 185 186 80 Bruce Power LP, 2.84%, Jun 23, 2021 80 80 75 Bruce Power LP, 4.01%, Jun 21, 2029 76 75 150 Cameco Corp., 5.67%, Sep 02, 2019 155 153 205 Canadian Imperial Bank of Commerce, 1.90%, Apr 26, 2021 201 201

The accompanying notes are an integral part of the financial statements.

59 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 255 Canadian Imperial Bank of Commerce, 210 Enbridge, Inc., FRN 1.64%, Jul 12, 2021 247 248 6.63%, Apr 12, 2078 216 211 150 Canadian Imperial Bank of Commerce, 100 ENMAX Corp., 2.90%, Sep 14, 2021 150 150 3.84%, Jun 05, 2028 100 102 140 Canadian Imperial Bank of Commerce, 25 EPCOR Utilities, Inc., 2.04%, Mar 21, 2022 136 137 6.65%, Apr 15, 2038 35 35 210 Canadian Imperial Bank of Commerce, 95 Fairfax Financial Holdings Ltd., 2.97%, Jul 11, 2023 210 210 4.50%, Mar 22, 2023 99 98 115 Canadian Imperial Bank of Commerce, 100 Fairfax Financial Holdings Ltd., FRN 4.95%, Mar 03, 2025 105 105 3.45%, Apr 04, 2028 115 114 345 Fairfax Financial Holdings Ltd., 35 Canadian National Railway Co., 4.25%, Dec 06, 2027 337 338 3.60%, Jul 31, 2048 34 34 230 Fédération des caisses Desjardins du 35 Canadian Utilities Ltd., Québec, 3.12%, Nov 09, 2022 35 35 2.09%, Jan 17, 2022 224 225 115 Canadian Western Bank, 225 Finning International, Inc., 2.38%, Jan 23, 2020 115 115 2.84%, Sep 29, 2021 225 224 115 Canadian Western Bank, 150 First Capital Realty, Inc., 2.88%, Mar 01, 2021 115 115 4.43%, Jan 31, 2022 156 155 115 Canadian Western Bank, 250 First Capital Realty, Inc., 2.74%, Jun 16, 2022 113 113 3.90%, Oct 30, 2023 254 252 290 Central 1 Credit Union, 225 Ford Credit Canada Co., 2.60%, Nov 07, 2022 283 284 2.45%, May 07, 2020 223 222 300 Central 1 Credit Union, FRN 310 Ford Credit Canada Co., 2.89%, Apr 25, 2024 300 300 2.58%, May 10, 2021 305 299 40 Choice Properties LP, 175 Ford Credit Canada Co., 3.60%, Apr 20, 2020 41 40 3.35%, Sep 19, 2022 174 167 600 Choice Properties LP, 230 FortisBC Energy, Inc., 3.60%, Sep 20, 2022 607 604 5.20%, Dec 06, 2040 281 279 165 Choice Properties REIT, 130 FortisBC, Inc., 2.30%, Sep 14, 2020 163 163 5.60%, Nov 09, 2035 161 159 60 Choice Properties REIT, 230 FortisBC, Inc., 4.06%, Nov 24, 2025 61 60 4.00%, Oct 28, 2044 238 235 100 CT REIT, 375 General Motors Financial of Canada Ltd., 3.47%, Jun 16, 2027 96 95 3.08%, May 22, 2020 377 374 170 CU, Inc., 290 General Motors Financial of Canada Ltd., 5.58%, May 26, 2038 215 211 2.60%, Jun 01, 2022 281 278 185 CU, Inc., 81 Grand Renewable Solar LP, 3.96%, Jul 27, 2045 192 189 3.93%, Jan 31, 2035 79 81 150 Daimler Canada Finance, Inc., 30 Greater Toronto Airports Authority, 1.91%, Jul 08, 2021 146 146 5.30%, Feb 25, 2041 39 38 215 Daimler Canada Finance, Inc., 155 Greater Toronto Airports Authority, 2.23%, Dec 16, 2021 210 210 4.53%, Dec 02, 2041 181 178 210 Daimler Canada Finance, Inc., 60 H&R REIT, 3.30%, Aug 16, 2022 210 211 3.42%, Jan 23, 2023 59 59 55 Enbridge Pipelines, Inc., 150 Halifax International Airport Authority, 3.00%, Aug 10, 2026 53 53 5.50%, Jul 19, 2041 193 194 475 Enbridge, Inc., 60 Health Montreal Collective LP, 3.19%, Dec 05, 2022 472 474 6.72%, Sep 30, 2049 80 77 300 Enbridge, Inc., 115 Honda Canada Finance, Inc., 3.94%, Jun 30, 2023 307 307 2.27%, Jul 15, 2022 112 112 255 Enbridge, Inc., 475 HSBC Bank Canada, 5.75%, Sep 02, 2039 285 283 2.91%, Sep 29, 2021 476 475 190 Enbridge, Inc., 115 HSBC Bank Canada, 4.57%, Mar 11, 2044 183 183 2.17%, Jun 29, 2022 112 112 505 Enbridge, Inc., FRN 125 Husky Energy, Inc., 5.38%, Sep 27, 2077 470 467 3.60%, Mar 10, 2027 123 120

The accompanying notes are an integral part of the financial statements.

60 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 60 Hydro One, Inc., 75 North West Redwater Partnership / NWR 6.03%, Mar 03, 2039 79 78 Financing Co., Ltd., 240 Hydro One, Inc., 3.65%, Jun 01, 2035 73 72 5.49%, Jul 16, 2040 301 296 31 Northwestconnect Group Partnership, 70 Hydro One, Inc., 5.95%, Apr 30, 2041 36 37 3.91%, Feb 23, 2046 71 70 290 Nova Scotia Power, Inc., 100 Hydro One, Inc., 4.50%, Jul 20, 2043 319 313 3.72%, Nov 18, 2047 99 97 15 Pembina Pipeline Corp., 345 IGM Financial, Inc., 3.77%, Oct 24, 2022 15 15 3.44%, Jan 26, 2027 339 342 175 Pembina Pipeline Corp., 45 IGM Financial, Inc., 3.71%, Aug 11, 2026 173 173 7.11%, Mar 07, 2033 59 58 230 Pembina Pipeline Corp., 30 IGM Financial, Inc., 4.24%, Jun 15, 2027 234 234 4.56%, Jan 25, 2047 31 31 60 Pembina Pipeline Corp., 340 Inter Pipeline Ltd., 4.74%, Jan 21, 2047 60 58 3.45%, Jul 20, 2020 345 343 76 Plenary Properties LTAP LP, 100 Inter Pipeline Ltd., 6.29%, Jan 31, 2044 97 97 2.61%, Sep 13, 2023 96 96 120 Power Corp. of Canada, 115 Inter Pipeline Ltd., 4.46%, Jul 27, 2048 120 121 2.73%, Apr 18, 2024 110 110 170 Reliance LP, 70 Inter Pipeline Ltd., 3.84%, Mar 15, 2025 167 167 3.48%, Dec 16, 2026 68 67 275 RioCan REIT, 500 Ivanhoe Cambridge II, Inc., 3.62%, Jun 01, 2020 280 278 2.91%, Jun 27, 2023 500 500 195 RioCan REIT, 275 John Deere Canada Funding, Inc., 3.73%, Apr 18, 2023 198 196 2.05%, May 13, 2022 267 268 100 RioCan REIT, 120 Kingston Solar LP, 3.29%, Feb 12, 2024 99 98 3.57%, Jul 31, 2035 114 117 215 Rogers Communications, Inc., 85 Laurentian Bank of Canada, 4.70%, Sep 29, 2020 225 222 2.50%, Jan 23, 2020 85 85 240 Rogers Communications, Inc., 120 Laurentian Bank of Canada, 6.11%, Aug 25, 2040 295 283 2.75%, Apr 22, 2021 119 119 220 Royal Bank of Canada, 45 Loblaw Cos., Ltd., 1.65%, Jul 15, 2021 213 214 6.54%, Feb 17, 2033 56 54 175 Royal Bank of Canada, 125 Manitoba Telecom Services, Inc., 1.58%, Sep 13, 2021 169 170 4.00%, May 27, 2024 129 128 10 Royal Bank of Canada, 70 Manulife Bank of Canada, 1.97%, Mar 02, 2022 10 10 2.08%, May 26, 2022 68 68 300 Royal Bank of Canada, 145 Manulife Bank of Canada, 2.36%, Dec 05, 2022 294 294 2.84%, Jan 12, 2023 144 144 80 Royal Bank of Canada, 115 Manulife Financial Corp., FRN 3.30%, Sep 26, 2023 80 80 3.05%, Aug 20, 2029 112 112 450 Royal Bank of Canada, 350 McCain Finance Canada Ltd., 2.33%, Dec 05, 2023 435 438 3.87%, Feb 07, 2023 360 363 15 Royal Bank of Canada, 55 Morguard Corp., 3.45%, Sep 29, 2026 15 15 4.09%, May 14, 2021 55 55 180 Scotiabank Capital Trust, FRN 45 Morguard Corp., 5.65%, Dec 31, 2056 215 212 4.33%, Sep 15, 2022 45 45 335 Shaw Communications, Inc., 115 National Bank of Canada, 5.50%, Dec 07, 2020 358 350 1.81%, Jul 26, 2021 112 112 215 Shaw Communications, Inc., 150 National Bank of Canada, 3.80%, Mar 01, 2027 214 211 1.96%, Jun 30, 2022 145 146 170 Shaw Communications, Inc., 230 National Bank of Canada, FRN 6.75%, Nov 09, 2039 211 203 3.18%, Feb 01, 2028 226 225 250 Smart REIT, 100 Nissan Canada Financial Services, Inc., 3.99%, May 30, 2023 256 253 3.15%, Sep 14, 2021 100 100 70 Sun Life Capital Trust II, 5.86%, Dec 31, 2108 73 72

The accompanying notes are an integral part of the financial statements.

61 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 175 Sun Life Financial, Inc., 115 Veresen, Inc., 4.57%, Aug 23, 2021 185 183 3.43%, Nov 10, 2021 116 116 250 Sun Life Financial, Inc., 500 VW Credit Canada, Inc., 3.05%, Sep 19, 2028 248 248 3.70%, Nov 14, 2022 499 504 325 TELUS Corp., 30,207 30,006 2.35%, Mar 28, 2022 318 317 40 TELUS Corp., Federal Bonds 2.4% 3.63%, Mar 01, 2028 39 39 20 Canadian Government Bond, 140 TELUS Corp., 1.50%, Jun 01, 2026 19 19 4.85%, Apr 05, 2044 145 140 330 Canadian Government Bond, 50 TELUS Corp., 2.00%, Jun 01, 2028 321 331 4.75%, Jan 17, 2045 51 49 150 Canadian Government Bond, 80 TELUS Corp., 5.00%, Jun 01, 2037 203 215 4.70%, Mar 06, 2048 82 78 225 Canadian Government Bond, 295 The Bank of Nova Scotia, 2.75%, Dec 01, 2048 254 253 3.27%, Jan 11, 2021 300 298 797 818 310 The Bank of Nova Scotia, 31,004 30,824 1.90%, Dec 02, 2021 301 302 115 The Bank of Nova Scotia, United States 7.0% 1.83%, Apr 27, 2022 111 111 Corporate Bonds 7.0% 450 The Bank of Nova Scotia, 300 AT&T, Inc., 2.36%, Nov 08, 2022 441 441 4.00%, Nov 25, 2025 299 299 170 The Bank of Nova Scotia, 130 Bank of America Corp., FRN 2.98%, Apr 17, 2023 170 170 3.30%, Apr 24, 2024 130 129 115 The Bank of Nova Scotia, 140 Citigroup, Inc., 2.29%, Jun 28, 2024 110 111 5.16%, May 24, 2027 144 140 315 The Manufacturers Life Insurance Co., 100 JPMorgan Chase & Co., 3.18%, Nov 22, 2027 317 316 3.19%, Mar 05, 2021 101 101 100 The Toronto-Dominion Bank, 95 Manulife Finance Delaware LP, 2.62%, Dec 22, 2021 100 100 5.06%, Dec 15, 2041 104 102 130 The Toronto-Dominion Bank, 230 Morgan Stanley, 1.99%, Mar 23, 2022 126 127 3.00%, Feb 07, 2024 226 224 75 The Toronto-Dominion Bank, 445 The Goldman Sachs Group, Inc., 3.59%, Sep 14, 2028 75 75 3.55%, Feb 12, 2021 454 449 230 The Toronto-Dominion Bank, FRN 160 The Goldman Sachs Group, Inc., 2.69%, Jun 24, 2025 229 229 2.43%, Apr 26, 2023 156 154 115 The Toronto-Dominion Bank, FRN 345 The Goldman Sachs Group, Inc., FRN 3.22%, Jul 25, 2029 113 112 3.31%, Oct 31, 2025 338 335 220 Thomson Reuters Corp., 210 Wells Fargo & Co., 3.31%, Nov 12, 2021 223 222 2.09%, Apr 25, 2022 203 203 150 TMX Group Ltd., 255 Wells Fargo & Co., 3.78%, Jun 05, 2028 150 152 2.51%, Oct 27, 2023 245 245 115 Toromont Industries Ltd., 2,400 2,381 3.84%, Oct 27, 2027 115 116 Global 0.5% 95 TransCanada PipeLines Ltd., Corporate Bonds 0.5% 3.39%, Mar 15, 2028 94 92 150 Transurban Finance Co. Pty Ltd., 170 TransCanada PipeLines Ltd., 4.56%, Nov 14, 2028 150 157 8.05%, Feb 17, 2039 257 242 35 TransCanada PipeLines Ltd., 33,554 33,362 4.35%, Jun 06, 2046 36 33 35 TransCanada PipeLines Ltd., 4.18%, Jul 03, 2048 35 32 370 TransCanada PipeLines Ltd., FRN 4.65%, May 18, 2077 355 332

The accompanying notes are an integral part of the financial statements.

62 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT CANADIAN CORPORATE FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) SHORT-TERM INVESTMENTS 0.9% 300 Merit Trust, 0.97%, Jan 02, 2019 300 300 Total investments 33,854 33,662 Derivative assets 0.0% 3 Derivative liabilities (0.0%) (4) Other assets less liabilities 0.9% 311 Net assets attributable to unitholders 100.0% 33,972

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Bonds Canada Corporate Bonds 88.3 - Federal Bonds 2.4 - United States Corporate Bonds 7.0 - Global Corporate Bonds 0.5 - Short-Term Investments 0.9 - Other assets less liabilities 0.9 - 100.0 -

The accompanying notes are an integral part of the financial statements.

63 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN SHORT DURATION FIXED INCOME MANULIFE ASSET MANAGEMENT CANADIAN SHORT DURATION FIXED INCOME POOLED FUND POOLED FUND

Assets Income Current assets Interest for distribution purposes 752 653 Investments, at fair value 23,825 22,917 Realized gain (loss) on sales of investments (387) (232) Cash 107 54 Realized gain (loss) on derivatives - 1 Interest, dividends and other receivables 141 130 Change in unrealized appreciation (depreciation) in the value of investments 131 (282) 24,073 23,101 496 140 Liabilities Expenses Current liabilities Audit fees 4 5 Accrued expenses and other liabilities 9 12 Transfer agent fees 3 3 912Filing fees 1 1 Unitholder reporting costs 7 7 Net assets attributable to unitholders 24,064 23,089 Custodial fees 6 15 Net assets attributable to unitholders per unit 21 31 9.50 9.61 Increase (decrease) in net assets attributable to unitholders 475 109 Increase (decrease) in net assets attributable to unitholders per unit 0.18 0.05

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 23,089 21,006 Increase (decrease) in net assets attributable to unitholders 475 109 Distribution to unitholders from: Net investment income (730) (624)

Total distributions to unitholders (730) (624)

Security transactions Proceeds from units issued 4,968 4,542 Reinvestments of distributions to unitholders 730 624 Redemption of units (4,468) (2,568)

Total security transactions 1,230 2,598

Net assets attributable to unitholders - end of year 24,064 23,089

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 2,401 2,137 Units issued 516 458 Units issued for reinvestment of distributions 77 65 Units redeemed (462) (259)

Units outstanding end of year 2,532 2,401

The accompanying notes are an integral part of the financial statements.

64 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN SHORT DURATION FIXED INCOME MANULIFE ASSET MANAGEMENT CANADIAN SHORT DURATION FIXED INCOME POOLED FUND POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 99.0% Increase (decrease) in net assets attributable to Canada 91.3% unitholders 475 109 Corporate Bonds 53.0% Adjustments for: 250 AltaGas Ltd., Realized gain (loss) on sales of investments 387 232 4.07%, Jun 01, 2020 260 253 Realized gain (loss) on derivatives - (1) 110 Bank of Montreal, Change in unrealized appreciation (depreciation) in 3.12%, Sep 19, 2024 110 110 the value of investments (131) 282 235 Bank of Montreal, FRN Purchases of investments (45,774) (28,351) 2.57%, Jun 01, 2027 232 229 Proceeds from disposition of investments 44,610 25,729 490 Bell Canada, Inc., Interest, dividends and other receivables (11) (1) 3.15%, Sep 29, 2021 493 491 Accrued expenses and other liabilities (3) 9 55 BMW Canada, Inc., 2.57%, Aug 06, 2021 55 55 Net cash provided by (used in) operating 40 Brookfield Infrastructure Finance ULC, activities (447) (1,992) 3.54%, Oct 30, 2020 40 40 Cash flows from financing activities 140 Brookfield Property Finance ULC, Proceeds from sale of units 4,968 4,542 4.12%, Oct 19, 2021 140 141 Payments for units redeemed (4,468) (2,568) 50 Canadian Imperial Bank of Commerce, Net cash provided by (used in) financing 2.90%, Sep 14, 2021 50 50 activities 500 1,974 40 Canadian Imperial Bank of Commerce, 3.30%, May 26, 2025 40 41 Net increase (decrease) in cash 53 (18) 35 Canadian Imperial Bank of Commerce, Cash (bank overdraft) beginning of year 54 72 FRN Cash (bank overdraft) end of year 107 54 3.45%, Apr 04, 2028 35 35 34 Canadian Mortgage Pools, Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 741 652 1.60%, Mar 01, 2019 34 34 58 Canadian Mortgage Pools, 1.95%, Apr 01, 2019 57 58 26 Canadian Mortgage Pools, 1.85%, Jun 01, 2019 26 26 30 Canadian Western Bank, 2.74%, Jun 16, 2022 30 29 300 CDP Financial, Inc., 4.60%, Jul 15, 2020 326 311 28 Central 1 Credit Union, 1.87%, Mar 16, 2020 28 28 290 Central 1 Credit Union, FRN 3.06%, Oct 14, 2026 286 286 45 Choice Properties LP, 3.60%, Apr 20, 2020 46 45 40 Choice Properties REIT, 3.01%, Mar 21, 2022 40 40 75 CIBC Capital Trust, FRN 9.98%, Jun 30, 2108 91 78 20 Cominar REIT, 3.62%, Jun 21, 2019 20 20 15 Co-operators Financial Services Ltd., 5.78%, Mar 10, 2020 17 15 280 Daimler Canada Finance, Inc., 2.30%, Nov 23, 2020 280 277 130 Daimler Canada Finance, Inc., 3.30%, Aug 16, 2022 130 131 115 Enbridge, Inc., 4.77%, Sep 02, 2019 125 117 350 Enbridge, Inc., 4.26%, Feb 01, 2021 362 359

The accompanying notes are an integral part of the financial statements.

65 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN SHORT DURATION FIXED INCOME MANULIFE ASSET MANAGEMENT CANADIAN SHORT DURATION FIXED INCOME POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 60 Fédération des caisses Desjardins du 350 OMERS Realty Corp., Québec, 2.47%, Nov 12, 2019 350 350 3.06%, Sep 11, 2023 60 60 125 Pembina Pipeline Corp., 510 First Capital Realty, Inc., 4.89%, Mar 29, 2021 135 130 4.50%, Mar 01, 2021 531 524 225 PSP Capital, Inc., 100 First National Financial Corp., 3.03%, Oct 22, 2020 233 229 4.01%, Apr 09, 2020 101 100 75 PSP Capital, Inc., 450 Ford Auto Securitization Trust, 1.34%, Aug 18, 2021 75 73 2.71%, Sep 15, 2023 450 449 115 PSP Capital, Inc., 95 Ford Credit Canada Co., 1.73%, Jun 21, 2022 113 113 2.77%, Jun 22, 2022 95 90 50 Reliance LP, 40 Ford Credit Canada Co., 4.08%, Aug 02, 2021 50 51 3.74%, May 08, 2023 40 38 250 RioCan REIT, 505 General Motors Financial of Canada Ltd., 2.19%, Apr 09, 2021 250 245 3.08%, May 22, 2020 512 504 20 RioCan REIT, 180 General Motors Financial of Canada Ltd., 3.75%, May 30, 2022 20 20 3.00%, Feb 26, 2021 180 178 315 Rogers Communications, Inc., 60 General Motors Financial of Canada Ltd., 5.38%, Nov 04, 2019 350 322 2.60%, Jun 01, 2022 60 58 50 Rogers Communications, Inc., 50 H&R REIT, 4.70%, Sep 29, 2020 55 52 2.92%, May 06, 2022 49 49 50 Royal Bank of Canada, 20 H&R REIT, 3.30%, Sep 26, 2023 50 50 3.42%, Jan 23, 2023 20 20 500 Royal Bank of Canada, 205 Hollis Receivables Term Trust II, 2.99%, Dec 06, 2024 509 501 1.79%, Feb 26, 2020 204 203 20 Royal Bank of Canada, 25 Honda Canada Finance, Inc., 2.48%, Jun 04, 2025 20 20 2.49%, Dec 19, 2022 25 24 55 Royal Bank of Canada, FRN 50 HSBC Bank Canada, 3.04%, Jul 17, 2024 55 55 2.54%, Jan 31, 2023 50 49 200 Shaw Communications, Inc., 100 HSBC Bank Canada, 5.65%, Oct 01, 2019 215 204 3.25%, Sep 15, 2023 100 100 115 Shaw Communications, Inc., 250 Hydro One, Inc., 5.50%, Dec 07, 2020 125 120 1.48%, Nov 18, 2019 250 248 61 Shaw Communications, Inc., 50 Intact Financial Corp., 3.80%, Nov 02, 2023 61 61 5.41%, Sep 03, 2019 57 51 150 Smart REIT, 55 Ivanhoe Cambridge II, Inc., 4.05%, Jul 27, 2020 157 152 2.91%, Jun 27, 2023 55 55 160 SmartCentres REIT, 160 John Deere Financial, Inc., 2.88%, Mar 21, 2022 162 157 3.07%, Jul 23, 2021 160 161 20 SNC-Lavalin Group, Inc., 270 Laurentian Bank of Canada, 2.69%, Nov 24, 2020 20 20 2.50%, Jan 23, 2020 270 269 20 SNC-Lavalin Group, Inc., 180 Manulife Financial Corp., 3.24%, Mar 02, 2023 20 20 3.32%, May 09, 2028 180 179 80 Sun Life Financial, Inc., 80 Morguard Corp., 2.75%, Nov 23, 2027 79 79 4.09%, May 14, 2021 80 80 285 TELUS Corp., 35 Morguard Corp., 3.60%, Jan 26, 2021 292 289 4.33%, Sep 15, 2022 35 35 15 TELUS Corp., 50 National Bank of Canada, FRN 2.35%, Mar 28, 2022 15 15 3.18%, Feb 01, 2028 50 49 200 The Bank of Nova Scotia, 350 Nissan Canada Financial Services, Inc., 3.27%, Jan 11, 2021 203 202 1.75%, Apr 09, 2020 347 345 40 The Bank of Nova Scotia, 130 Nissan Canada Financial Services, Inc., 2.98%, Apr 17, 2023 40 40 2.42%, Oct 19, 2020 130 129 130 The Bank of Nova Scotia, 30 Nissan Canada Financial Services, Inc., 3.04%, Oct 18, 2024 132 130 2.61%, Mar 05, 2021 30 30 15 The Bank of Nova Scotia, 145 Nissan Canada Financial Services, Inc., 2.58%, Mar 30, 2027 15 15 3.15%, Sep 14, 2021 145 145 45 The Manufacturers Life Insurance Co., 2.64%, Jan 15, 2025 45 45

The accompanying notes are an integral part of the financial statements.

66 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN SHORT DURATION FIXED INCOME MANULIFE ASSET MANAGEMENT CANADIAN SHORT DURATION FIXED INCOME POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 109 The Manufacturers Life Insurance Co., 50 Municipal Finance Authority of British 2.39%, Jan 05, 2026 109 108 Columbia, 45 The Toronto-Dominion Bank, 1.75%, Oct 15, 2020 50 50 3.59%, Sep 14, 2028 45 45 200 Municipal Finance Authority of British 370 The Toronto-Dominion Bank, FRN Columbia, 2.69%, Jun 24, 2025 368 369 3.75%, Sep 26, 2023 207 211 300 The Toronto-Dominion Bank, FRN 200 The Regional Municipality of York, 2.98%, Sep 30, 2025 300 300 4.00%, Jun 30, 2021 207 208 30 Toyota Credit Canada, Inc., 848 831 2.70%, Jan 25, 2023 30 30 50 Toyota Credit Canada, Inc., 22,164 21,971 3.04%, Jul 12, 2023 50 50 Global 4.0% 200 Ventas Canada Finance Ltd., Supranational Bonds 2.1% 2.55%, Mar 15, 2023 193 193 500 Inter-American Development Bank, 175 Veresen, Inc., 1.88%, Mar 20, 2020 498 499 3.06%, Jun 13, 2019 175 175 Government Bonds 1.0% 46 VW Credit Canada, Inc., 250 KFW, 2.90%, Mar 29, 2021 46 46 1.38%, Jan 28, 2020 250 248 150 VW Credit Canada, Inc., 3.70%, Nov 14, 2022 150 151 Corporate Bonds 0.9% 36 European Investment Bank, 12,931 12,748 2.25%, Jul 30, 2021 36 36 Provincial Bonds 19.5% 50 Heathrow Funding Ltd., 671 Province of Alberta, 3.00%, Jun 17, 2021 49 50 2.65%, Sep 01, 2023 667 675 100 HSBC Holdings PLC, 350 Province of Manitoba, 3.20%, Dec 05, 2023 99 99 1.55%, Sep 05, 2021 349 344 31 International Finance Corp., 765 Province of Ontario, 2.38%, Jul 19, 2023 31 31 3.15%, Jun 02, 2022 785 785 215 216 1,145 Province of Ontario, 2.85%, Jun 02, 2023 1,158 1,164 963 963 565 Province of Quebec, United States 3.7% 4.50%, Dec 01, 2020 628 591 Corporate Bonds 3.7% 600 Province of Quebec, 60 AT&T, Inc., 3.50%, Dec 01, 2022 626 626 3.83%, Nov 25, 2020 60 61 500 Province of Quebec, 146 Metropolitan Life Global Funding I, 3.00%, Sep 01, 2023 510 512 3.03%, Jun 11, 2020 144 147 4,723 4,697 205 Morgan Stanley, 3.13%, Aug 05, 2021 212 205 Federal Bonds 15.4% 300 The Goldman Sachs Group, Inc., 304 Canada Housing Trust No. 1, 3.55%, Feb 12, 2021 312 302 2.35%, Jun 15, 2023 302 305 40 The Goldman Sachs Group, Inc., 320 Canada Housing Trust No. 1, 2.43%, Apr 26, 2023 40 39 2.35%, Sep 15, 2023 317 321 70 Wells Fargo & Co., 2,829 Canada Housing Trust No. 1, 2.22%, Mar 15, 2021 70 69 2.55%, Dec 15, 2023 2,839 2,861 70 Wells Fargo & Co., 215 Canadian Government Bond, 2.09%, Apr 25, 2022 70 68 1.00%, Sep 01, 2022 204 208 908 891 3,662 3,695 Total investments 24,035 23,825 Municipal Bonds 3.4% 210 City of Montreal, Other assets less liabilities 1.0% 239 4.50%, Dec 01, 2021 234 223 Net assets attributable to 135 Municipal Finance Authority of British unitholders 100.0% 24,064 Columbia, 4.45%, Jun 01, 2020 150 139

The accompanying notes are an integral part of the financial statements.

67 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN SHORT DURATION FIXED INCOME MANULIFE ASSET MANAGEMENT CANADIAN SHORT DURATION FIXED INCOME POOLED FUND POOLED FUND

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Bonds Canada Corporate Bonds 53.0 49.5 Provincial Bonds 19.5 24.5 Federal Bonds 15.4 13.6 Municipal Bonds 3.4 2.8 Global Supranational Bonds 2.1 2.2 Government Bonds 1.0 - Corporate Bonds 0.9 1.3 United States Corporate Bonds 3.7 5.4 Other assets less liabilities 1.0 0.7 100.0 100.0

The accompanying notes are an integral part of the financial statements.

68 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM BOND POOLED FUND MANULIFE ASSET MANAGEMENT SHORT-TERM BOND POOLED FUND

Assets Income Current assets Interest for distribution purposes 1,376 945 Investments, at fair value 56,058 38,026 Foreign exchange gain (loss) on currency - 3 Cash 38 291 Realized gain (loss) on sales of investments (666) (489) Subscriptions receivable 41 13 Realized gain (loss) on derivatives - 8 Receivable from Manager - 16 Change in unrealized appreciation (depreciation) in Interest, dividends and other receivables 321 235 the value of investments 262 (381) 56,458 38,581 972 86 Expenses Liabilities Audit fees 5 5 Current liabilities Transfer agent fees 3 3 Redemptions payable - 9 Filing fees - 1 Accrued expenses and other liabilities 10 11 Unitholder reporting costs 13 8 10 20 Custodial fees 9 13 Net assets attributable to unitholders 56,448 38,561 30 30 Less operating expenses absorbed by manager (7) (15) Net assets attributable to unitholders per unit 95.12 95.64 Net operating expenses 23 15 Increase (decrease) in net assets attributable to unitholders 949 71 Increase (decrease) in net assets attributable to unitholders per unit 1.93 0.23

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 38,561 25,066 Increase (decrease) in net assets attributable to unitholders 949 71 Distribution to unitholders from: Net investment income (1,353) (928)

Total distributions to unitholders (1,353) (928)

Security transactions Proceeds from units issued 29,661 20,288 Reinvestments of distributions to unitholders 1,353 928 Redemption of units (12,723) (6,864)

Total security transactions 18,291 14,352

Net assets attributable to unitholders - end of year 56,448 38,561

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 403 257 Units issued 308 206 Units issued for reinvestment of distributions 14 10 Units redeemed (132) (70)

Units outstanding end of year 593 403

The accompanying notes are an integral part of the financial statements.

69 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM BOND POOLED FUND MANULIFE ASSET MANAGEMENT SHORT-TERM BOND POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 98.5% Increase (decrease) in net assets attributable to Canada 95.3% unitholders 949 71 Corporate Bonds 54.6% Adjustments for: 50 407 International, Inc., Realized gain (loss) on sales of investments 666 489 2.47%, Sep 08, 2022 50 49 Realized gain (loss) on derivatives - (8) 250 AltaGas Ltd., Change in unrealized appreciation (depreciation) in 4.07%, Jun 01, 2020 263 253 the value of investments (262) 381 590 AltaGas Ltd., Purchases of investments (155,418) (93,379) 3.72%, Sep 28, 2021 610 594 Proceeds from disposition of investments 136,982 79,224 750 Bank of Montreal, Receivable from Manager 16 (4) 1.88%, Mar 31, 2021 740 737 Interest, dividends and other receivables (86) (89) 100 Bank of Montreal, Accrued expenses and other liabilities (1) 5 1.61%, Oct 28, 2021 100 97 765 Bank of Montreal, Net cash provided by (used in) operating 3.12%, Sep 19, 2024 770 767 activities (17,154) (13,310) 360 Bank of Montreal, FRN Cash flows from financing activities 2.57%, Jun 01, 2027 355 350 Proceeds from sale of units 29,633 20,441 540 Bell Canada, Inc., Payments for units redeemed (12,732) (6,859) 3.00%, Oct 03, 2022 540 535 Net cash provided by (used in) financing 90 BMW Canada, Inc., activities 16,901 13,582 2.57%, Aug 06, 2021 90 89 720 Brookfield Infrastructure Finance ULC, Net increase (decrease) in cash (253) 272 3.54%, Oct 30, 2020 736 727 Cash (bank overdraft) beginning of year 291 19 360 Brookfield Infrastructure Finance ULC, Cash (bank overdraft) end of year 38 291 3.45%, Mar 11, 2022 360 360 330 Brookfield Property Finance ULC, Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 1,289 857 4.12%, Oct 19, 2021 330 333 1,170 Canadian Imperial Bank of Commerce, 1.66%, Jan 20, 2020 1,160 1,161 120 Canadian Imperial Bank of Commerce, 2.90%, Sep 14, 2021 120 120 60 Canadian Imperial Bank of Commerce, 2.97%, Jul 11, 2023 60 60 215 Canadian Imperial Bank of Commerce, 3.00%, Oct 28, 2024 215 215 60 Canadian Imperial Bank of Commerce, FRN 3.45%, Apr 04, 2028 60 59 110 Canadian Western Bank, 2.88%, Mar 01, 2021 110 110 40 Canadian Western Bank, 2.74%, Jun 16, 2022 40 39 430 Caterpillar Financial Services Ltd., 2.80%, Jun 08, 2021 430 431 725 CDP Financial, Inc., 4.60%, Jul 15, 2020 788 752 33 Central 1 Credit Union, 1.87%, Mar 16, 2020 33 33 120 Central 1 Credit Union, 2.60%, Nov 07, 2022 120 118 560 Central 1 Credit Union, FRN 3.06%, Oct 14, 2026 552 553 305 Choice Properties LP, 3.60%, Apr 20, 2020 315 307 65 Choice Properties REIT, 3.01%, Mar 21, 2022 65 64

The accompanying notes are an integral part of the financial statements.

70 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM BOND POOLED FUND MANULIFE ASSET MANAGEMENT SHORT-TERM BOND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 95 CIBC Capital Trust, FRN 170 Manulife Bank of Canada, 9.98%, Jun 30, 2108 124 98 2.08%, May 26, 2022 170 165 530 Daimler Canada Finance, Inc., 60 Manulife Financial Corp., 2.30%, Nov 23, 2020 530 524 3.32%, May 09, 2028 60 60 250 Daimler Canada Finance, Inc., 74 MCAP RMBS Issuer Corp., 3.30%, Aug 16, 2022 250 251 2.17%, Apr 15, 2019 74 74 1,000 Enbridge, Inc., 35 Morguard Corp., 4.26%, Feb 01, 2021 1,034 1,024 4.09%, May 14, 2021 35 35 300 Enbridge, Inc., 65 National Bank of Canada, 3.19%, Dec 05, 2022 300 299 1.81%, Jul 26, 2021 65 64 400 Fairfax Financial Holdings Ltd., 90 National Bank of Canada, FRN 6.40%, May 25, 2021 435 430 3.18%, Feb 01, 2028 90 88 160 Fédération des caisses Desjardins du 190 Nissan Canada Financial Services, Inc., Québec, 2.42%, Oct 19, 2020 190 188 2.09%, Jan 17, 2022 160 157 335 Nissan Canada Financial Services, Inc., 130 Fédération des caisses Desjardins du 3.15%, Sep 14, 2021 335 335 Québec, 435 Pembina Pipeline Corp., 3.06%, Sep 11, 2023 130 131 4.89%, Mar 29, 2021 473 451 30 First National Financial Corp., 450 Pembina Pipeline Corp., 4.01%, Apr 09, 2020 30 30 3.77%, Oct 24, 2022 460 456 250 Ford Auto Securitization Trust, 330 PSP Capital, Inc., 2.71%, Sep 15, 2023 250 250 3.03%, Oct 22, 2020 341 335 200 Ford Credit Canada Co., 150 PSP Capital, Inc., 2.92%, Sep 16, 2020 202 197 1.34%, Aug 18, 2021 150 147 165 Ford Credit Canada Co., 195 PSP Capital, Inc., 2.77%, Jun 22, 2022 165 156 1.73%, Jun 21, 2022 191 191 70 Ford Credit Canada Co., 585 Reliance LP, 3.74%, May 08, 2023 70 67 3.81%, Sep 15, 2020 600 591 52 Ford Floorplan Auto Securitization Trust, 700 RioCan REIT, 2.20%, Jul 15, 2020 52 52 3.85%, Jun 28, 2019 751 705 260 Fortified Trust, 700 RioCan REIT, 2.16%, Oct 23, 2020 261 258 2.19%, Apr 09, 2021 686 686 295 General Motors Financial of Canada Ltd., 250 Royal Bank of Canada, 3.08%, May 22, 2020 298 294 2.98%, May 07, 2019 259 251 100 General Motors Financial of Canada Ltd., 85 Royal Bank of Canada, 3.00%, Feb 26, 2021 100 99 2.35%, Dec 09, 2019 85 85 450 General Motors Financial of Canada Ltd., 900 Royal Bank of Canada, 2.60%, Jun 01, 2022 447 432 2.86%, Mar 04, 2021 898 903 130 H&R REIT, 140 Royal Bank of Canada, 2.92%, May 06, 2022 128 127 1.65%, Jul 15, 2021 135 136 45 Honda Canada Finance, Inc., 185 Royal Bank of Canada, 2.49%, Dec 19, 2022 45 44 2.36%, Dec 05, 2022 182 182 680 HSBC Bank Canada, 110 Royal Bank of Canada, 2.94%, Jan 14, 2020 705 682 3.30%, Sep 26, 2023 110 111 630 HSBC Bank Canada, 250 Royal Bank of Canada, FRN 1.82%, Jul 07, 2020 619 622 3.04%, Jul 17, 2024 251 251 250 HSBC Bank Canada, 190 Shaw Communications, Inc., 2.17%, Jun 29, 2022 250 243 5.65%, Oct 01, 2019 204 194 350 Hydro One, Inc., 503 Shaw Communications, Inc., 1.48%, Nov 18, 2019 350 347 5.50%, Dec 07, 2020 545 526 100 Ivanhoe Cambridge II, Inc., 500 Shaw Communications, Inc., 2.91%, Jun 27, 2023 100 100 3.15%, Feb 19, 2021 502 500 380 John Deere Financial, Inc., 144 Shaw Communications, Inc., 3.07%, Jul 23, 2021 380 383 3.80%, Nov 02, 2023 144 145 200 Laurentian Bank of Canada, 400 Smart REIT, 2.81%, Jun 13, 2019 202 200 4.05%, Jul 27, 2020 411 406 10 Laurentian Bank of Canada, 125 SmartCentres REIT, 3.00%, Sep 12, 2022 10 10 2.88%, Mar 21, 2022 128 123

The accompanying notes are an integral part of the financial statements.

71 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM BOND POOLED FUND MANULIFE ASSET MANAGEMENT SHORT-TERM BOND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 680 SNC-Lavalin Group, Inc., 200 Province of Quebec, 2.69%, Nov 24, 2020 683 675 4.25%, Dec 01, 2021 223 211 550 Sun Life Financial, Inc., 1,000 Province of Quebec, 2.60%, Sep 25, 2025 559 547 3.50%, Dec 01, 2022 1,042 1,043 500 Sun Life Financial, Inc., 1,375 Province of Quebec, 3.10%, Feb 19, 2026 510 502 3.00%, Sep 01, 2023 1,386 1,409 110 Sun Life Financial, Inc., 12,254 12,120 2.75%, Nov 23, 2027 109 108 25 TELUS Corp., Federal Bonds 16.5% 3.60%, Jan 26, 2021 26 25 8,350 Canada Housing Trust No. 1, 750 TELUS Corp., 1.75%, Jun 15, 2022 8,165 8,231 3.20%, Apr 05, 2021 756 753 900 Canada Housing Trust No. 1, 600 The Bank of Nova Scotia, 2.35%, Sep 15, 2023 885 903 1.90%, Dec 02, 2021 602 585 218 Canada Housing Trust No. 1, 75 The Bank of Nova Scotia, 2.55%, Dec 15, 2023 219 220 1.83%, Apr 27, 2022 72 73 9,269 9,354 485 The Bank of Nova Scotia, Municipal Bonds 2.7% 2.36%, Nov 08, 2022 474 476 370 City of Montreal, 150 The Bank of Nova Scotia, 4.50%, Dec 01, 2021 401 392 2.98%, Apr 17, 2023 150 150 132 Municipal Finance Authority of British 120 The Bank of Nova Scotia, Columbia, 3.04%, Oct 18, 2024 122 120 2.80%, Dec 03, 2023 132 134 505 The Manufacturers Life Insurance Co., 950 The Regional Municipality of York, 2.64%, Jan 15, 2025 507 505 4.00%, Jun 30, 2021 984 990 110 The Toronto-Dominion Bank, 3.59%, Sep 14, 2028 110 110 1,517 1,516 130 The Toronto-Dominion Bank, FRN 54,262 53,801 2.98%, Sep 30, 2025 130 130 145 Thomson Reuters Corp., United States 3.0% Corporate Bonds 3.0% 3.31%, Nov 12, 2021 147 146 80 Bank of America Corp., FRN 60 Toyota Credit Canada, Inc., 3.30%, Apr 24, 2024 80 79 3.04%, Jul 12, 2023 60 60 570 Morgan Stanley, 155 Ventas Canada Finance Ltd., 3.13%, Aug 05, 2021 578 571 3.00%, Sep 30, 2019 160 155 450 The Goldman Sachs Group, Inc., 500 Ventas Canada Finance Ltd., 3.55%, Feb 12, 2021 466 454 2.55%, Mar 15, 2023 482 484 175 The Goldman Sachs Group, Inc., 50 Veresen, Inc., 2.43%, Apr 26, 2023 176 169 3.43%, Nov 10, 2021 50 50 160 Wells Fargo & Co., 350 VW Credit Canada, Inc., 2.22%, Mar 15, 2021 160 157 3.70%, Nov 14, 2022 349 353 275 Wells Fargo & Co., 31,222 30,811 2.09%, Apr 25, 2022 275 266 Provincial Bonds 21.5% 1,735 1,696 80 Province of Alberta, Global 0.2% 1.25%, Jun 01, 2020 79 79 Corporate Bonds 0.2% 2,100 Province of Alberta, 77 European Investment Bank, 2.55%, Dec 15, 2022 2,106 2,112 2.25%, Jul 30, 2021 77 77 875 Province of Ontario, 44 International Finance Corp., 4.00%, Jun 02, 2021 970 912 2.38%, Jul 19, 2023 44 44 1,150 Province of Ontario, 3.15%, Jun 02, 2022 1,196 1,181 121 121 770 Province of Ontario, 56,118 55,618 2.85%, Jun 02, 2023 780 783 2,640 Province of Ontario, 2.60%, Sep 08, 2023 2,634 2,655 1,660 Province of Quebec, 4.50%, Dec 01, 2020 1,838 1,735

The accompanying notes are an integral part of the financial statements.

72 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM BOND POOLED FUND MANULIFE ASSET MANAGEMENT SHORT-TERM BOND POOLED FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) SHORT-TERM INVESTMENTS 0.8% 440 Merit Trust, 0.97%, Jan 02, 2019 440 440 Total investments 56,558 56,058 Other assets less liabilities 0.7% 390 Net assets attributable to unitholders 100.0% 56,448

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Bonds Canada Corporate Bonds 54.0 51.7 Provincial Bonds 21.5 23.0 Federal Bonds 17.2 16.9 Municipal Bonds 2.6 2.9 United States Corporate Bonds 3.0 3.1 Global Corporate Bonds 0.2 - Short-Term Investments 0.8 1.0 Other assets less liabilities 0.7 1.4 100.0 100.0

The accompanying notes are an integral part of the financial statements.

73 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 2,249 2,052 Investments, at fair value 63,336 56,455 Realized gain (loss) on sales of investments (403) (439) Cash 152 152 Change in unrealized appreciation (depreciation) in Subscriptions receivable 41 - the value of investments (1,003) 26 Receivable from Manager - 15 843 1,639 Interest, dividends and other receivables 366 315 Expenses 63,895 56,937 Audit fees 5 6 Transfer agent fees 3 4 Liabilities Unitholder reporting costs 16 13 Current liabilities Custodial fees 6 14 Payable on investments purchased 149 - Accrued expenses and other liabilities 10 14 30 37 Less operating expenses absorbed by manager - (15) 159 14 Net operating expenses 30 22 Net assets attributable to unitholders 63,736 56,923 Increase (decrease) in net assets attributable Net assets attributable to unitholders per unit to unitholders 813 1,617 98.76 101.02 Increase (decrease) in net assets attributable to unitholders per unit 1.37 2.98

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 56,923 60,647 Increase (decrease) in net assets attributable to unitholders 813 1,617 Distribution to unitholders from: Net investment income (2,218) (2,027)

Total distributions to unitholders (2,218) (2,027)

Security transactions Proceeds from units issued 14,741 6,053 Reinvestments of distributions to unitholders 2,218 2,027 Redemption of units (8,741) (11,394)

Total security transactions 8,218 (3,314)

Net assets attributable to unitholders - end of year 63,736 56,923

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 563 597 Units issued 147 57 Units issued for reinvestment of distributions 22 20 Units redeemed (87) (111)

Units outstanding end of year 645 563

The accompanying notes are an integral part of the financial statements.

74 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 99.4% Increase (decrease) in net assets attributable to Canada 99.4% unitholders 813 1,617 Provincial Bonds 95.0% Adjustments for: 950 Financement-Québec, Realized gain (loss) on sales of investments 403 439 2.45%, Dec 01, 2019 976 954 Change in unrealized appreciation (depreciation) in 995 Financement-Québec, the value of investments 1,003 (26) 5.25%, Jun 01, 2034 1,244 1,244 Purchases of investments (21,920) (18,222) 900 Province of Alberta, Proceeds from disposition of investments 13,782 21,568 1.25%, Jun 01, 2020 884 890 Receivable from Manager 15 (7) 545 Province of Alberta, Interest, dividends and other receivables (51) 27 1.35%, Sep 01, 2021 541 533 Accrued expenses and other liabilities (4) 5 160 Province of Alberta, 2.55%, Dec 15, 2022 161 162 Net cash provided by (used in) operating 140 Province of Alberta, activities (5,959) 5,401 3.10%, Jun 01, 2024 144 144 Cash flows from financing activities 200 Province of Alberta, Proceeds from sale of units 14,700 6,053 2.35%, Jun 01, 2025 195 196 Payments for units redeemed (8,741) (11,397) 350 Province of Alberta, Net cash provided by (used in) financing 2.20%, Jun 01, 2026 352 337 activities 5,959 (5,344) 360 Province of Alberta, 2.55%, Jun 01, 2027 355 352 Net increase (decrease) in cash -57 325 Province of Alberta, Cash (bank overdraft) beginning of year 152 95 2.90%, Sep 20, 2029 340 322 Cash (bank overdraft) end of year 152 152 400 Province of Alberta, 3.50%, Jun 01, 2031 430 419 Supplemental information on cash flows from operating activities: 300 Province of Alberta, Interest received, net of foreign withholding taxes 2,196 2,079 3.90%, Dec 01, 2033 327 326 125 Province of Alberta, 3.45%, Dec 01, 2043 133 128 100 Province of Alberta, 3.05%, Dec 01, 2048 98 96 625 Province of British Columbia, 3.70%, Dec 18, 2020 702 645 355 Province of British Columbia, 3.25%, Dec 18, 2021 379 366 660 Province of British Columbia, 2.70%, Dec 18, 2022 688 669 150 Province of British Columbia, 8.00%, Sep 08, 2023 208 186 110 Province of British Columbia, 3.30%, Dec 18, 2023 115 114 100 Province of British Columbia, 2.85%, Jun 18, 2025 100 102 200 Province of British Columbia, 2.30%, Jun 18, 2026 205 196 100 Province of British Columbia, 2.95%, Dec 18, 2028 100 102 605 Province of British Columbia, 5.70%, Jun 18, 2029 812 762 390 Province of British Columbia, 6.35%, Jun 18, 2031 537 531 170 Province of British Columbia, 4.70%, Jun 18, 2037 220 210 180 Province of British Columbia, 4.95%, Jun 18, 2040 235 233

The accompanying notes are an integral part of the financial statements.

75 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 225 Province of British Columbia, 100 Province of Nova Scotia, 4.30%, Jun 18, 2042 282 270 2.10%, Jun 01, 2027 98 95 295 Province of British Columbia, 290 Province of Nova Scotia, 3.20%, Jun 18, 2044 308 301 6.60%, Jun 01, 2027 400 372 70 Province of British Columbia, 100 Province of Nova Scotia, 2.80%, Jun 18, 2048 68 66 4.50%, Jun 01, 2037 119 118 1,000 Province of Manitoba, 25 Province of Nova Scotia, 4.15%, Jun 03, 2020 1,027 1,029 4.70%, Jun 01, 2041 30 31 300 Province of Manitoba, 45 Province of Nova Scotia, 1.60%, Sep 05, 2020 298 298 3.45%, Jun 01, 2045 46 47 180 Province of Manitoba, 3,400 Province of Ontario, 2.55%, Jun 02, 2026 187 177 4.20%, Jun 02, 2020 3,573 3,502 270 Province of Manitoba, 1,420 Province of Ontario, 3.25%, Sep 05, 2029 288 276 4.00%, Jun 02, 2021 1,574 1,481 130 Province of Manitoba, 430 Province of Ontario, 4.60%, Mar 05, 2038 155 154 1.35%, Mar 08, 2022 417 418 190 Province of Manitoba, 1,580 Province of Ontario, 4.40%, Mar 05, 2042 221 222 3.15%, Jun 02, 2022 1,679 1,622 125 Province of Manitoba, 210 Province of Ontario, 3.35%, Mar 05, 2043 122 125 1.95%, Jan 27, 2023 206 207 90 Province of New Brunswick, 1,890 Province of Ontario, 4.50%, Jun 02, 2020 94 93 2.85%, Jun 02, 2023 1,941 1,921 230 Province of New Brunswick, 600 Province of Ontario, 2.85%, Jun 02, 2023 231 233 2.60%, Sep 08, 2023 600 603 350 Province of New Brunswick, 1,675 Province of Ontario, 2.35%, Aug 14, 2027 342 335 3.50%, Jun 02, 2024 1,831 1,755 690 Province of New Brunswick, 955 Province of Ontario, 5.65%, Dec 27, 2028 896 845 2.60%, Jun 02, 2025 977 953 200 Province of New Brunswick, 370 Province of Ontario, 5.50%, Jan 27, 2034 277 253 2.40%, Jun 02, 2026 361 362 150 Province of New Brunswick, 160 Province of Ontario, 4.65%, Sep 26, 2035 178 175 8.00%, Jun 02, 2026 243 217 110 Province of New Brunswick, 900 Province of Ontario, 4.55%, Mar 26, 2037 131 128 2.60%, Jun 02, 2027 897 888 100 Province of New Brunswick, 1,275 Province of Ontario, 4.80%, Sep 26, 2039 122 121 7.60%, Jun 02, 2027 1,886 1,734 40 Province of New Brunswick, 280 Province of Ontario, 4.80%, Jun 03, 2041 51 49 2.90%, Jun 02, 2028 278 282 70 Province of New Brunswick, 565 Province of Ontario, 3.55%, Jun 03, 2043 71 72 6.50%, Mar 08, 2029 774 743 30 Province of New Brunswick, 590 Province of Ontario, 3.80%, Aug 14, 2045 33 32 6.20%, Jun 02, 2031 814 788 100 Province of New Brunswick, 950 Province of Ontario, 3.10%, Aug 14, 2048 99 94 5.85%, Mar 08, 2033 1,288 1,255 200 Province of Newfoundland and Labrador, 695 Province of Ontario, 2.30%, Jun 02, 2025 194 195 5.60%, Jun 02, 2035 957 915 1,000 Province of Newfoundland and Labrador, 500 Province of Ontario, 3.00%, Jun 02, 2026 1,031 1,010 4.70%, Jun 02, 2037 634 608 1,225 Province of Newfoundland and Labrador, 605 Province of Ontario, 6.15%, Apr 17, 2028 1,629 1,532 4.60%, Jun 02, 2039 745 734 940 Province of Newfoundland and Labrador, 245 Province of Ontario, 2.85%, Jun 02, 2028 919 930 4.65%, Jun 02, 2041 310 302 1,035 Province of Newfoundland and Labrador, 150 Province of Ontario, 6.55%, Oct 17, 2030 1,402 1,378 3.50%, Jun 02, 2043 165 157 35 Province of Newfoundland and Labrador, 125 Province of Ontario, 3.30%, Oct 17, 2046 34 34 3.45%, Jun 02, 2045 129 130 75 Province of Nova Scotia, 75 Province of Ontario, 4.10%, Jun 01, 2021 85 78 2.90%, Dec 02, 2046 69 71

The accompanying notes are an integral part of the financial statements.

76 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 245 Province of Ontario, 100 Province of Saskatchewan, 2.80%, Jun 02, 2048 235 227 5.75%, Mar 05, 2029 139 125 20 Province of Ontario, 125 Province of Saskatchewan, 2.90%, Jun 02, 2049 19 19 6.40%, Sep 05, 2031 180 169 200 Province of Prince Edward Island, 320 Province of Saskatchewan, 2.35%, Aug 25, 2025 202 194 5.60%, Sep 05, 2035 440 419 45 Province of Prince Edward Island, 85 Province of Saskatchewan, 5.60%, Feb 21, 2034 53 57 4.75%, Jun 01, 2040 109 105 270 Province of Prince Edward Island, 50 Province of Saskatchewan, 4.65%, Nov 19, 2037 315 315 3.40%, Feb 03, 2042 52 51 100 Province of Prince Edward Island, 25 Province of Saskatchewan, 3.65%, Jun 27, 2042 105 103 3.30%, Jun 02, 2048 27 25 2,535 Province of Quebec, 62,324 60,524 4.50%, Dec 01, 2020 2,721 2,650 1,540 Province of Quebec, Corporate Bonds 4.4% 4.25%, Dec 01, 2021 1,768 1,628 150 Hydro-Québec, 1,090 Province of Quebec, 11.00%, Aug 15, 2020 179 171 3.50%, Dec 01, 2022 1,175 1,137 300 Hydro-Québec, 1,195 Province of Quebec, 6.50%, Feb 15, 2035 448 429 3.00%, Sep 01, 2023 1,226 1,224 160 Hydro-Québec, 880 Province of Quebec, 6.00%, Feb 15, 2040 242 230 3.75%, Sep 01, 2024 957 937 40 Hydro-Québec, 70 Province of Quebec, 5.00%, Feb 15, 2045 53 53 5.35%, Jun 01, 2025 87 81 45 Hydro-Québec, 520 Province of Quebec, 5.00%, Feb 15, 2050 62 61 2.75%, Sep 01, 2025 526 525 45 Hydro-Québec, 190 Province of Quebec, 4.00%, Feb 15, 2055 57 54 8.50%, Apr 01, 2026 285 262 850 Ontario Electricity Financial Corp., 525 Province of Quebec, 10.00%, Feb 06, 2020 1,191 923 2.50%, Sep 01, 2026 528 519 500 Ontario Electricity Financial Corp., 450 Province of Quebec, 8.90%, Aug 18, 2022 633 612 2.75%, Sep 01, 2027 448 451 155 Ontario Electricity Financial Corp., 165 Province of Quebec, 9.00%, May 26, 2025 231 211 2.75%, Sep 01, 2028 162 165 50 Ontario Electricity Financial Corp., 630 Province of Quebec, 8.25%, Jun 22, 2026 75 68 6.00%, Oct 01, 2029 854 812 3,171 2,812 1,620 Province of Quebec, Total investments 65,495 63,336 6.25%, Jun 01, 2032 2,242 2,207 1,025 Province of Quebec, Other assets less liabilities 0.6% 400 5.75%, Dec 01, 2036 1,440 1,398 Net assets attributable to 600 Province of Quebec, unitholders 100.0% 63,736 5.00%, Dec 01, 2038 794 767 150 Province of Quebec, CONCENTRATION RISK 5.00%, Dec 01, 2041 201 195 The following table summarizes the Fund’s concentration risk. 115 Province of Quebec, 4.25%, Dec 01, 2043 138 137 % of net assets attributable to unitholders 105 Province of Quebec, Portfolio by category December 31, 2018 December 31, 2017 3.50%, Dec 01, 2045 111 112 120 Province of Quebec, Bonds 3.50%, Dec 01, 2048 137 129 Canada 100 Province of Saskatchewan, Provincial Bonds 95.0 95.4 Corporate Bonds 4.4 3.8 3.90%, Jul 28, 2020 105 103 Other assets less liabilities 0.6 0.8 100 Province of Saskatchewan, 100.0 100.0 3.20%, Jun 03, 2024 105 103 65 Province of Saskatchewan, 2.55%, Jun 02, 2026 64 64 75 Province of Saskatchewan, 2.65%, Jun 02, 2027 77 74

The accompanying notes are an integral part of the financial statements.

77 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 511 456 Investments, at fair value 13,547 11,192 Realized gain (loss) on sales of investments (41) (51) Cash 12 21 Change in unrealized appreciation (depreciation) in Receivable from Manager - 8 the value of investments (388) 72 Interest, dividends and other receivables 125 111 82 477 13,684 11,332 Expenses Liabilities Audit fees 5 5 Transfer agent fees 3 4 Current liabilities Unitholder reporting costs 5 4 Redemptions payable 1 - Custodial fees 2 7 Accrued expenses and other liabilities 8 9 15 20 99Less operating expenses absorbed by manager (3) (8) Net assets attributable to unitholders 13,675 11,323 Net operating expenses 12 12 Net assets attributable to unitholders per unit Increase (decrease) in net assets attributable 100.21 100.11 to unitholders 70 465 Increase (decrease) in net assets attributable to unitholders per unit 0.56 4.24

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 11,323 11,000 Increase (decrease) in net assets attributable to unitholders 70 465 Distribution to unitholders from: Net investment income (70) (487)

Total distributions to unitholders (70) (487)

Security transactions Proceeds from units issued 3,237 194 Reinvestments of distributions to unitholders 70 487 Redemption of units (955) (336)

Total security transactions 2,352 345

Net assets attributable to unitholders - end of year 13,675 11,323

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 113 110 Units issued 32 2 Units issued for reinvestment of distributions 1 4 Units redeemed (10) (3)

Units outstanding end of year 136 113

The accompanying notes are an integral part of the financial statements.

78 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 99.1% Increase (decrease) in net assets attributable to Canada 99.1% unitholders 70 465 Corporate Bonds 99.1% Adjustments for: 110 407 International, Inc., Realized gain (loss) on sales of investments 41 51 6.47%, Jul 27, 2029 147 141 Change in unrealized appreciation (depreciation) in 60 407 International, Inc., the value of investments 388 (72) 3.43%, Jun 01, 2033 62 60 Purchases of investments (3,924) (4,073) 80 407 International, Inc., Proceeds from disposition of investments 1,140 3,758 5.75%, Feb 14, 2036 103 99 Receivable from Manager 8 - 25 407 International, Inc., Interest, dividends and other receivables (14) 7 3.83%, May 11, 2046 25 25 Accrued expenses and other liabilities (1) 3 50 Aéroports de Montréal, 3.36%, Apr 24, 2047 53 48 Net cash provided by (used in) operating 180 AIMCo Realty Investors LP, activities (2,292) 139 3.04%, Jun 01, 2028 175 177 Cash flows from financing activities 80 Alimentation Couche-Tard, Inc., Proceeds from sale of units 3,237 194 3.06%, Jul 26, 2024 78 77 Payments for units redeemed (954) (336) 50 AltaGas Ltd., Net cash provided by (used in) financing 4.12%, Apr 07, 2026 54 49 activities 2,283 (142) 35 AltaLink LP, 3.67%, Nov 06, 2023 38 36 Net increase (decrease) in cash (9) (3) 25 AltaLink LP, Cash (bank overdraft) beginning of year 21 24 4.09%, Jun 30, 2045 26 26 Cash (bank overdraft) end of year 12 21 35 AltaLink LP, 3.72%, Dec 03, 2046 34 35 Supplemental information on cash flows from operating activities: 150 Bank of Montreal, Interest received, net of foreign withholding taxes 497 463 2.12%, Mar 16, 2022 150 147 100 Bank of Montreal, 3.12%, Sep 19, 2024 100 100 50 Bank of Montreal, 2.70%, Dec 09, 2026 49 49 60 Bank of Montreal, 3.19%, Mar 01, 2028 59 60 100 bcIMC Realty Corp., 2.84%, Jun 03, 2025 99 99 240 Bell Canada, Inc., 4.70%, Sep 11, 2023 267 253 10 Bell Canada, Inc., 3.55%, Mar 02, 2026 10 10 110 Bell Canada, Inc., 7.85%, Apr 02, 2031 151 147 30 Bell Canada, Inc., 7.65%, Dec 30, 2031 39 38 45 Bell Canada, Inc., 7.30%, Feb 23, 2032 60 58 70 Bell Canada, Inc., 6.10%, Mar 16, 2035 85 82 60 Bell Canada, Inc., 4.35%, Dec 18, 2045 58 56 35 British Columbia Ferry Services, Inc., 6.25%, Oct 13, 2034 47 46 40 British Columbia Ferry Services, Inc., 4.70%, Oct 23, 2043 50 47 70 Brookfield Asset Management, Inc., 3.80%, Mar 16, 2027 70 68

The accompanying notes are an integral part of the financial statements.

79 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 30 Brookfield Asset Management, Inc., 80 Enbridge, Inc., 5.95%, Jun 14, 2035 35 33 6.10%, Jul 14, 2028 96 90 270 Brookfield Infrastructure Finance ULC, 70 Enbridge, Inc., 3.54%, Oct 30, 2020 278 273 7.20%, Jun 18, 2032 87 89 50 Brookfield Renewable Partners ULC, 10 Énergir, Inc., 5.14%, Oct 13, 2020 55 52 9.00%, May 16, 2025 15 13 80 Bruce Power LP, 35 Énergir, Inc., 2.84%, Jun 23, 2021 80 80 5.70%, Jul 10, 2036 44 44 190 Bruce Power LP, 50 EPCOR Utilities, Inc., 3.97%, Jun 23, 2026 194 193 5.65%, Nov 16, 2035 62 62 100 Bruce Power LP, 40 Fairfax Financial Holdings Ltd., 4.01%, Jun 21, 2029 102 100 4.95%, Mar 03, 2025 41 42 25 Cameco Corp., 45 Fairfax Financial Holdings Ltd., 5.09%, Nov 14, 2042 25 22 4.70%, Dec 16, 2026 46 46 75 Canadian Imperial Bank of Commerce, 60 First Capital Realty, Inc., 2.04%, Mar 21, 2022 75 73 4.50%, Mar 01, 2021 64 62 25 Canadian National Railway Co., 25 First Capital Realty, Inc., 2.80%, Sep 22, 2025 25 25 4.43%, Jan 31, 2022 27 26 70 Canadian National Railway Co., 60 Ford Credit Canada Co., 3.60%, Aug 01, 2047 68 68 3.74%, May 08, 2023 60 57 50 Canadian Natural Resources Ltd., 45 FortisAlberta, Inc., 3.31%, Feb 11, 2022 52 50 6.22%, Oct 31, 2034 61 58 40 Canadian Natural Resources Ltd., 15 FortisAlberta, Inc., 3.55%, Jun 03, 2024 41 40 4.80%, Oct 27, 2050 17 18 45 Canadian Tire Corp., Ltd., 50 FortisBC Energy, Inc., 6.45%, Feb 24, 2034 56 54 2.58%, Apr 08, 2026 50 49 20 Canadian Western Bank, 10 FortisBC Energy, Inc., 2.79%, Sep 13, 2021 20 20 5.90%, Feb 26, 2035 13 13 100 Choice Properties REIT, 55 FortisBC Energy, Inc., 2.30%, Sep 14, 2020 99 99 5.55%, Sep 25, 2036 69 68 70 Choice Properties REIT, 70 FortisBC Energy, Inc., 4.18%, Mar 08, 2028 71 69 6.05%, Feb 15, 2038 95 92 10 CT REIT, 50 FortisBC Energy, Inc., 3.29%, Jun 01, 2026 10 10 5.80%, May 13, 2038 64 64 10 CU, Inc., 25 FortisBC Energy, Inc., 11.77%, Nov 30, 2020 15 12 4.25%, Dec 09, 2041 27 27 10 CU, Inc., 20 FortisBC, Inc., 5.56%, Oct 30, 2037 13 12 5.60%, Nov 09, 2035 25 24 135 CU, Inc., 290 GE Capital Canada Funding Co., 5.58%, May 26, 2038 170 168 4.60%, Jan 26, 2022 306 292 30 CU, Inc., 125 Genesis Trust II, 3.83%, Sep 11, 2062 32 29 1.70%, Apr 15, 2020 124 124 125 Daimler Canada Finance, Inc., 25 George Weston Ltd., 1.78%, Aug 19, 2019 124 124 4.12%, Jun 17, 2024 27 25 60 Daimler Canada Finance, Inc., 75 George Weston Ltd., 3.05%, May 16, 2022 59 60 7.10%, Feb 05, 2032 95 93 60 Enbridge Gas Distribution, Inc., 50 Glacier Credit Card Trust, 6.05%, Jul 05, 2023 74 67 2.05%, Sep 20, 2022 49 48 105 Enbridge Gas Distribution, Inc., 265 Greater Toronto Airports Authority, 7.60%, Oct 29, 2026 145 135 6.45%, Dec 03, 2027 355 336 100 Enbridge Gas Distribution, Inc., 105 Greater Toronto Airports Authority, 6.65%, Nov 03, 2027 132 123 7.05%, Jun 12, 2030 148 143 25 Enbridge Pipelines, Inc., 135 Greater Toronto Airports Authority, 6.05%, Feb 12, 2029 29 29 7.10%, Jun 04, 2031 193 186 55 Enbridge Pipelines, Inc., 70 Greater Toronto Airports Authority, 5.35%, Nov 10, 2039 66 61 6.47%, Feb 02, 2034 100 94 40 Enbridge, Inc., 75 Great-West Lifeco, Inc., 3.20%, Jun 08, 2027 40 38 6.74%, Nov 24, 2031 98 98

The accompanying notes are an integral part of the financial statements.

80 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 50 Great-West Lifeco, Inc., 200 North West Redwater Partnership / NWR 6.67%, Mar 21, 2033 66 65 Financing Co., Ltd., 40 Honda Canada Finance, Inc., 3.65%, Jun 01, 2035 194 192 1.63%, Aug 12, 2019 40 40 35 NOVA Gas Transmission Ltd., 300 HSBC Bank Canada, 6.30%, May 27, 2030 44 42 2.49%, May 13, 2019 304 300 30 Nova Scotia Power, Inc., 150 HSBC Bank Canada, 8.85%, May 19, 2025 44 39 2.54%, Jan 31, 2023 147 147 45 Nova Scotia Power, Inc., 75 Husky Energy, Inc., 5.61%, Jun 15, 2040 59 56 3.60%, Mar 10, 2027 75 72 30 Nova Scotia Power, Inc., 85 Hydro One, Inc., 3.61%, May 01, 2045 27 28 7.35%, Jun 03, 2030 117 115 50 OMERS Realty Corp., 70 Hydro One, Inc., 3.36%, Jun 05, 2023 52 51 6.93%, Jun 01, 2032 95 93 20 Ontario Power Generation, Inc., 150 Hydro One, Inc., 3.32%, Oct 04, 2027 20 20 6.35%, Jan 31, 2034 201 193 5 Pembina Pipeline Corp., 60 Hydro One, Inc., 3.54%, Feb 03, 2025 5 5 5.36%, May 20, 2036 74 71 130 Pembina Pipeline Corp., 90 Hydro One, Inc., 4.24%, Jun 15, 2027 135 132 4.39%, Sep 26, 2041 100 97 30 Pembina Pipeline Corp., 130 IGM Financial, Inc., 4.74%, Jan 21, 2047 30 29 3.44%, Jan 26, 2027 129 129 90 RioCan REIT, 40 IGM Financial, Inc., 3.85%, Jun 28, 2019 94 91 6.65%, Dec 13, 2027 51 49 70 RioCan REIT, 30 IGM Financial, Inc., 3.29%, Feb 12, 2024 69 69 7.45%, May 09, 2031 41 39 190 Rogers Communications, Inc., 50 Intact Financial Corp., 5.34%, Mar 22, 2021 216 199 3.77%, Mar 02, 2026 53 51 25 Rogers Communications, Inc., 50 Inter Pipeline Ltd., 6.68%, Nov 04, 2039 33 31 3.48%, Dec 16, 2026 51 48 80 Rogers Communications, Inc., 70 Investors Group, Inc., 6.11%, Aug 25, 2040 100 94 7.00%, Dec 31, 2032 93 90 225 Royal Bank of Canada, 150 Laurentian Bank of Canada, 1.40%, Apr 26, 2019 226 225 2.50%, Jan 23, 2020 152 149 50 Royal Bank of Canada, 180 Loblaw Cos., Ltd., 2.33%, Dec 05, 2023 50 49 4.86%, Sep 12, 2023 202 190 330 Royal Bank of Canada, 45 Loblaw Cos., Ltd., 2.99%, Dec 06, 2024 332 331 6.45%, Feb 09, 2028 55 53 130 Royal Bank of Canada, 15 Loblaw Cos., Ltd., 4.93%, Jul 16, 2025 158 145 6.50%, Jan 22, 2029 19 18 30 Royal Bank of Canada, FRN 50 Loblaw Cos., Ltd., 3.04%, Jul 17, 2024 30 30 6.54%, Feb 17, 2033 62 60 30 Shaw Communications, Inc., 35 Loblaw Cos., Ltd., 3.80%, Mar 01, 2027 30 29 5.90%, Jan 18, 2036 41 40 35 Shaw Communications, Inc., 25 Metro, Inc., 6.75%, Nov 09, 2039 41 42 3.20%, Dec 01, 2021 26 25 20 SmartCentres REIT, 50 Metro, Inc., 2.88%, Mar 21, 2022 20 20 5.97%, Oct 15, 2035 58 58 50 Suncor Energy, Inc., 85 National Bank of Canada, 3.00%, Sep 14, 2026 50 48 2.11%, Mar 18, 2022 83 83 60 Suncor Energy, Inc., 25 NAV CANADA, 5.39%, Mar 26, 2037 69 69 7.40%, Jun 01, 2027 36 33 65 TELUS Communications, Inc., 85 North West Redwater Partnership / NWR 10.65%, Jun 19, 2021 83 76 Financing Co., Ltd., 50 TELUS Corp., 3.20%, Jul 22, 2024 86 85 3.35%, Apr 01, 2024 53 50 130 North West Redwater Partnership / NWR 215 TELUS Corp., Financing Co., Ltd., 3.75%, Mar 10, 2026 216 216 4.25%, Jun 01, 2029 138 136

The accompanying notes are an integral part of the financial statements.

81 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT SHORT-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 15 TELUS Corp., 10 Westcoast Energy, Inc., 4.40%, Apr 01, 2043 15 14 7.30%, Dec 18, 2026 13 12 60 The Bank of Nova Scotia, 30 Westcoast Energy, Inc., 2.27%, Jan 13, 2020 61 60 7.15%, Mar 20, 2031 40 38 165 The Bank of Nova Scotia, 13,961 13,547 2.87%, Jun 04, 2021 171 166 120 The Bank of Nova Scotia, Total investments 13,961 13,547 2.98%, Apr 17, 2023 119 120 Other assets less liabilities 0.9% 128 130 The Bank of Nova Scotia, Net assets attributable to 2.62%, Dec 02, 2026 124 126 unitholders 100.0% 13,675 150 The Toronto-Dominion Bank, 3.23%, Jul 24, 2024 156 152 CONCENTRATION RISK 100 The Toronto-Dominion Bank, Deposit Note The following table summarizes the Fund’s concentration risk. 1.91%, Jul 18, 2023 97 96 10 Thomson Reuters Corp., % of net assets attributable to 3.31%, Nov 12, 2021 10 10 unitholders 90 Toromont Industries Ltd., Portfolio by category December 31, 2018 December 31, 2017 3.84%, Oct 27, 2027 91 90 Bonds 90 Toronto Hydro Corp., Canada 5.54%, May 21, 2040 119 114 Corporate Bonds 99.1 98.7 85 Toyota Credit Canada, Inc., Provincial Bonds - 0.1 2.02%, Feb 28, 2022 83 83 Other assets less liabilities 0.9 1.2 80 Toyota Credit Canada, Inc., 100.0 100.0 3.04%, Jul 12, 2023 79 80 5 TransAlta Corp., 5.00%, Nov 25, 2020 5 5 120 TransCanada PipeLines Ltd., 11.80%, Nov 20, 2020 154 139 135 TransCanada PipeLines Ltd., 8.29%, Feb 05, 2026 190 173 180 TransCanada PipeLines Ltd., 3.39%, Mar 15, 2028 179 175 75 TransCanada PipeLines Ltd., 6.28%, May 26, 2028 95 89 65 TransCanada PipeLines Ltd., 8.05%, Feb 17, 2039 101 93 80 TransCanada PipeLines Ltd., 4.35%, Jun 06, 2046 82 76 40 Union Gas Ltd., 6.05%, Sep 02, 2038 53 52 25 Union Gas Ltd., 4.20%, Jun 02, 2044 25 26 40 Union Gas Ltd., 3.80%, Jun 01, 2046 40 39 25 Ventas Canada Finance Ltd., 4.13%, Sep 30, 2024 26 26 20 Westcoast Energy, Inc., 9.90%, Jan 10, 2020 26 21

The accompanying notes are an integral part of the financial statements.

82 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 6,393 5,966 Investments, at fair value 180,670 181,972 Realized gain (loss) on sales of investments (827) (99) Cash 33 91 Change in unrealized appreciation (depreciation) in Receivable from Manager - 10 the value of investments (5,813) 4,944 Interest, dividends and other receivables 925 894 (247) 10,811 181,628 182,967 Expenses Liabilities Audit fees 5 7 Transfer agent fees 3 4 Current liabilities Filing fees 6 1 Redemptions payable 13 2 Unitholder reporting costs 46 32 Accrued expenses and other liabilities 16 26 Custodial fees 12 36 29 28 72 80 Net assets attributable to unitholders 181,599 182,939 Less operating expenses absorbed by manager - (9) Net assets attributable to unitholders per unit Net operating expenses 72 71 100.32 104.20 Increase (decrease) in net assets attributable to unitholders (319) 10,740 Increase (decrease) in net assets attributable to unitholders per unit (0.18) 6.76

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 182,939 167,339 Increase (decrease) in net assets attributable to unitholders (319) 10,740 Distribution to unitholders from: Net investment income (6,318) (5,897) Net realized gains - (20)

Total distributions to unitholders (6,318) (5,917)

Security transactions Proceeds from units issued 34,732 41,030 Reinvestments of distributions to unitholders 6,318 5,917 Redemption of units (35,753) (36,170)

Total security transactions 5,297 10,777

Net assets attributable to unitholders - end of year 181,599 182,939

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 1,756 1,663 Units issued 339 386 Units issued for reinvestment of distributions 63 57 Units redeemed (348) (350)

Units outstanding end of year 1,810 1,756

The accompanying notes are an integral part of the financial statements.

83 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 99.5% Increase (decrease) in net assets attributable to Canada 99.5% unitholders (319) 10,740 Provincial Bonds 93.8% Adjustments for: 3,100 Financement-Québec, Realized gain (loss) on sales of investments 827 99 5.25%, Jun 01, 2034 3,916 3,875 Change in unrealized appreciation (depreciation) in 75 Province of Alberta, the value of investments 5,813 (4,944) 4.00%, Dec 01, 2019 84 76 Purchases of investments (50,056) (74,246) 290 Province of Alberta, Proceeds from disposition of investments 44,718 63,526 1.25%, Jun 01, 2020 285 287 Receivable from Manager 10 (3) 100 Province of Alberta, Interest, dividends and other receivables (31) 16 2.55%, Dec 15, 2022 101 101 Accrued expenses and other liabilities (10) 11 600 Province of Alberta, 2.20%, Jun 01, 2026 583 577 Net cash provided by (used in) operating 465 Province of Alberta, activities 952 (4,801) 2.90%, Sep 20, 2029 457 461 Cash flows from financing activities 900 Province of Alberta, Proceeds from sale of units 34,732 41,030 3.50%, Jun 01, 2031 960 942 Payments for units redeemed (35,742) (36,226) 720 Province of Alberta, Net cash provided by (used in) financing 3.90%, Dec 01, 2033 788 783 activities (1,010) 4,804 500 Province of Alberta, 4.50%, Dec 01, 2040 606 596 Net increase (decrease) in cash (58) 3 300 Province of Alberta, Cash (bank overdraft) beginning of year 91 88 3.45%, Dec 01, 2043 306 308 Cash (bank overdraft) end of year 33 91 1,765 Province of Alberta, 3.30%, Dec 01, 2046 1,821 1,764 Supplemental information on cash flows from operating activities: 5,775 Province of Alberta, Interest received, net of foreign withholding taxes 6,362 5,982 3.05%, Dec 01, 2048 5,726 5,522 150 Province of British Columbia, 3.70%, Dec 18, 2020 164 155 100 Province of British Columbia, 3.25%, Dec 18, 2021 108 103 250 Province of British Columbia, 3.30%, Dec 18, 2023 279 260 200 Province of British Columbia, 2.85%, Jun 18, 2025 218 204 400 Province of British Columbia, 2.55%, Jun 18, 2027 401 396 250 Province of British Columbia, 6.15%, Nov 19, 2027 340 316 250 Province of British Columbia, 5.70%, Jun 18, 2029 311 315 1,390 Province of British Columbia, 6.35%, Jun 18, 2031 1,956 1,894 200 Province of British Columbia, 5.40%, Jun 18, 2035 264 262 490 Province of British Columbia, 4.70%, Jun 18, 2037 626 604 1,495 Province of British Columbia, 4.95%, Jun 18, 2040 1,952 1,937 2,300 Province of British Columbia, 4.30%, Jun 18, 2042 2,789 2,764 3,950 Province of British Columbia, 3.20%, Jun 18, 2044 3,987 4,029 5,575 Province of British Columbia, 2.80%, Jun 18, 2048 5,383 5,285

The accompanying notes are an integral part of the financial statements.

84 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 225 Province of British Columbia Interest Strip, 120 Province of Newfoundland and Labrador, zero coupon, Jun 18, 2048 90 92 6.50%, Oct 17, 2029 169 157 230 Province of Manitoba, 1,000 Province of Newfoundland and Labrador, 1.55%, Sep 05, 2021 224 226 6.55%, Oct 17, 2030 1,420 1,332 300 Province of Manitoba, 225 Province of Newfoundland and Labrador, 3.30%, Jun 02, 2024 326 311 5.60%, Oct 17, 2033 296 285 320 Province of Manitoba, 299 Province of Newfoundland and Labrador, 2.45%, Jun 02, 2025 326 316 4.50%, Apr 17, 2037 342 343 40 Province of Manitoba, 400 Province of Newfoundland and Labrador, 2.55%, Jun 02, 2026 40 39 4.65%, Oct 17, 2040 529 473 300 Province of Manitoba, 570 Province of Newfoundland and Labrador, 2.60%, Jun 02, 2027 302 294 3.30%, Oct 17, 2046 546 551 1,385 Province of Manitoba, 1,170 Province of Newfoundland and Labrador, 4.60%, Mar 05, 2038 1,708 1,639 3.70%, Oct 17, 2048 1,254 1,220 180 Province of Manitoba, 200 Province of Nova Scotia, 4.65%, Mar 05, 2040 219 216 4.45%, Oct 24, 2021 230 212 230 Province of Manitoba, 350 Province of Nova Scotia, 4.10%, Mar 05, 2041 265 257 2.10%, Jun 01, 2027 326 332 110 Province of Manitoba, 145 Province of Nova Scotia, 4.40%, Mar 05, 2042 131 128 6.60%, Jun 01, 2027 199 186 50 Province of Manitoba, 335 Province of Nova Scotia, 3.35%, Mar 05, 2043 51 50 6.60%, Dec 01, 2031 488 464 1,370 Province of Manitoba, 150 Province of Nova Scotia, 2.85%, Sep 05, 2046 1,305 1,245 5.80%, Jun 01, 2033 197 197 1,335 Province of Manitoba, 500 Province of Nova Scotia, 3.40%, Sep 05, 2048 1,382 1,349 4.50%, Jun 01, 2037 619 592 100 Province of Manitoba Residual Strip, 202 Province of Nova Scotia, zero coupon, Mar 05, 2031 67 69 4.70%, Jun 01, 2041 253 249 330 Province of New Brunswick, 495 Province of Nova Scotia, 4.50%, Jun 02, 2020 368 341 4.40%, Jun 01, 2042 595 590 650 Province of New Brunswick, 450 Province of Nova Scotia, 2.35%, Aug 14, 2027 638 623 3.45%, Jun 01, 2045 496 467 1,180 Province of New Brunswick, 1,250 Province of Nova Scotia, 5.65%, Dec 27, 2028 1,586 1,446 3.50%, Jun 02, 2062 1,450 1,329 1,415 Province of New Brunswick, 825 Province of Ontario, 5.50%, Jan 27, 2034 1,867 1,789 4.40%, Jun 02, 2019 865 834 545 Province of New Brunswick, 1,005 Province of Ontario, 4.65%, Sep 26, 2035 644 636 4.20%, Jun 02, 2020 1,084 1,035 510 Province of New Brunswick, 1,300 Province of Ontario, 4.80%, Sep 26, 2039 624 617 4.00%, Jun 02, 2021 1,451 1,356 315 Province of New Brunswick, 870 Province of Ontario, 3.55%, Jun 03, 2043 323 322 1.35%, Mar 08, 2022 847 845 265 Province of New Brunswick, 1,035 Province of Ontario, 3.80%, Aug 14, 2045 281 283 3.15%, Jun 02, 2022 1,089 1,063 1,205 Province of New Brunswick, 100 Province of Ontario, 3.10%, Aug 14, 2048 1,182 1,137 1.95%, Jan 27, 2023 97 98 250 Province of New Brunswick, 1,765 Province of Ontario, 3.55%, Jun 03, 2055 267 255 2.85%, Jun 02, 2023 1,803 1,794 150 Province of Newfoundland and Labrador, 970 Province of Ontario, 2.30%, Jun 02, 2025 149 146 2.60%, Sep 08, 2023 968 976 90 Province of Newfoundland and Labrador, 1,385 Province of Ontario, 8.45%, Feb 05, 2026 138 122 3.50%, Jun 02, 2024 1,474 1,451 910 Province of Newfoundland and Labrador, 680 Province of Ontario, 3.00%, Jun 02, 2026 938 919 2.60%, Jun 02, 2025 684 679 1,355 Province of Newfoundland and Labrador, 775 Province of Ontario, 6.15%, Apr 17, 2028 1,816 1,695 2.40%, Jun 02, 2026 765 759 2,085 Province of Newfoundland and Labrador, 870 Province of Ontario, 2.85%, Jun 02, 2028 2,037 2,063 2.60%, Jun 02, 2027 842 858

The accompanying notes are an integral part of the financial statements.

85 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 1,075 Province of Ontario, 400 Province of Quebec, 7.60%, Jun 02, 2027 1,607 1,462 2.50%, Sep 01, 2026 414 395 615 Province of Ontario, 990 Province of Quebec, 2.90%, Jun 02, 2028 612 619 2.75%, Sep 01, 2027 1,014 991 1,500 Province of Ontario, 700 Province of Quebec, 6.50%, Mar 08, 2029 2,088 1,972 6.00%, Oct 01, 2029 934 902 1,025 Province of Ontario, 4,090 Province of Quebec, 6.20%, Jun 02, 2031 1,392 1,369 6.25%, Jun 01, 2032 5,662 5,572 3,011 Province of Ontario, 4,115 Province of Quebec, 5.85%, Mar 08, 2033 4,118 3,977 5.75%, Dec 01, 2036 5,831 5,613 2,495 Province of Ontario, 3,525 Province of Quebec, 5.60%, Jun 02, 2035 3,312 3,286 5.00%, Dec 01, 2038 4,547 4,506 2,665 Province of Ontario, 1,688 Province of Quebec, 4.70%, Jun 02, 2037 3,338 3,239 5.00%, Dec 01, 2041 2,122 2,199 3,900 Province of Ontario, 1,310 Province of Quebec, 4.60%, Jun 02, 2039 4,864 4,735 4.25%, Dec 01, 2043 1,475 1,558 1,913 Province of Ontario, 1,300 Province of Quebec, 4.65%, Jun 02, 2041 2,420 2,356 3.50%, Dec 01, 2045 1,362 1,382 2,190 Province of Ontario, 11,050 Province of Quebec, 3.50%, Jun 02, 2043 2,277 2,299 3.50%, Dec 01, 2048 12,115 11,833 1,700 Province of Ontario, 250 Province of Saskatchewan, 3.45%, Jun 02, 2045 1,807 1,774 3.20%, Jun 03, 2024 257 258 2,415 Province of Ontario, 340 Province of Saskatchewan, 2.90%, Dec 02, 2046 2,357 2,279 5.75%, Mar 05, 2029 443 423 16,835 Province of Ontario, 510 Province of Saskatchewan, 2.80%, Jun 02, 2048 16,118 15,603 6.40%, Sep 05, 2031 726 691 2,300 Province of Ontario, 300 Province of Saskatchewan, 2.90%, Jun 02, 2049 2,173 2,179 5.80%, Sep 05, 2033 404 394 200 Province of Ontario Generic Strip Residual, 50 Province of Saskatchewan, zero coupon, Jun 02, 2041 97 98 5.00%, Mar 05, 2037 62 62 400 Province of Prince Edward Island, 800 Province of Saskatchewan, 5.60%, Feb 21, 2034 511 504 4.75%, Jun 01, 2040 1,029 985 78 Province of Prince Edward Island, 625 Province of Saskatchewan, 5.70%, Jun 15, 2035 101 100 3.40%, Feb 03, 2042 636 639 150 Province of Prince Edward Island, 200 Province of Saskatchewan, 4.60%, May 19, 2041 181 177 3.90%, Jun 02, 2045 231 222 775 Province of Prince Edward Island, 890 Province of Saskatchewan, 3.65%, Jun 27, 2042 812 795 2.75%, Dec 02, 2046 826 804 100 Province of Prince Edward Island, 1,850 Province of Saskatchewan, 3.60%, Jan 17, 2053 99 102 3.30%, Jun 02, 2048 1,919 1,866 1,380 Province of Quebec, 400 Province of Saskatchewan, 4.50%, Dec 01, 2019 1,509 1,412 3.75%, Mar 05, 2054 468 443 765 Province of Quebec, 174,752 170,284 4.50%, Dec 01, 2020 868 800 750 Province of Quebec, Corporate Bonds 5.7% 4.25%, Dec 01, 2021 834 793 750 Hydro-Québec, 750 Province of Quebec, 6.00%, Aug 15, 2031 978 988 3.50%, Dec 01, 2022 817 782 1,025 Hydro-Québec, 425 Province of Quebec, 6.50%, Feb 15, 2035 1,587 1,464 9.38%, Jan 16, 2023 641 538 865 Hydro-Québec, 700 Province of Quebec, 6.00%, Feb 15, 2040 1,243 1,242 3.00%, Sep 01, 2023 720 717 270 Hydro-Québec, 320 Province of Quebec, 5.00%, Feb 15, 2045 351 358 3.75%, Sep 01, 2024 339 341 2,500 Hydro-Québec, 105 Province of Quebec, 5.00%, Feb 15, 2050 3,379 3,419 2.75%, Sep 01, 2025 109 106 1,765 Hydro-Québec, 700 Province of Quebec, 4.00%, Feb 15, 2055 2,229 2,100 8.50%, Apr 01, 2026 1,071 964

The accompanying notes are an integral part of the financial statements.

86 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 240 Ontario Electricity Financial Corp., 8.50%, May 26, 2025 365 320 173 Ontario Infrastructure Projects Corp., 4.70%, Jun 01, 2037 194 205 36 Ontario School Boards Financing Corp., 5.48%, Nov 26, 2029 42 41 130 OPB Finance Trust, 3.89%, Jul 04, 2042 130 139 85 The 55 Ontario School Board Trust, 5.90%, Jun 02, 2033 111 110 10,609 10,386 Total investments 185,361 180,670 Other assets less liabilities 0.5% 929 Net assets attributable to unitholders 100.0% 181,599

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Bonds Canada Provincial Bonds 93.8 94.2 Corporate Bonds 5.7 5.3 Other assets less liabilities 0.5 0.5 100.0 100.0

The accompanying notes are an integral part of the financial statements.

87 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 3,157 2,200 Investments, at fair value 82,020 59,362 Realized gain (loss) on sales of investments (74) - Cash 53 152 Change in unrealized appreciation (depreciation) in Subscriptions receivable 52 - the value of investments (3,719) 1,575 Interest, dividends and other receivables 861 590 (636) 3,775 82,986 60,104 Expenses Liabilities Audit fees 5 6 Transfer agent fees 5 4 Current liabilities Filing fees 6 2 Redemptions payable 1 - Unitholder reporting costs 21 13 Accrued expenses and other liabilities 12 13 Custodial fees 7 13 13 13 44 38 Net assets attributable to unitholders 82,973 60,091 Increase (decrease) in net assets attributable Net assets attributable to unitholders per unit to unitholders (680) 3,737 98.61 103.93 Increase (decrease) in net assets attributable to unitholders per unit (0.93) 7.44

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 60,091 35,501 Increase (decrease) in net assets attributable to unitholders (680) 3,737 Distribution to unitholders from: Net investment income (3,114) (2,157) Net realized gains - (17)

Total distributions to unitholders (3,114) (2,174)

Security transactions Proceeds from units issued 44,391 24,305 Reinvestments of distributions to unitholders 3,114 2,174 Redemption of units (20,829) (3,452)

Total security transactions 26,676 23,027

Net assets attributable to unitholders - end of year 82,973 60,091

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 578 356 Units issued 432 234 Units issued for reinvestment of distributions 32 21 Units redeemed (201) (33)

Units outstanding end of year 841 578

The accompanying notes are an integral part of the financial statements.

88 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 98.9% Increase (decrease) in net assets attributable to Canada 98.9% unitholders (680) 3,737 Corporate Bonds 98.9% Adjustments for: 140 407 International, Inc., Realized gain (loss) on sales of investments 74 - 6.47%, Jul 27, 2029 183 180 Change in unrealized appreciation (depreciation) in 200 407 International, Inc., the value of investments 3,719 (1,575) 3.43%, Jun 01, 2033 207 199 Purchases of investments (45,253) (39,555) 325 407 International, Inc., Proceeds from disposition of investments 18,802 16,821 5.96%, Dec 03, 2035 427 422 Interest, dividends and other receivables (271) (186) 150 407 International, Inc., Accrued expenses and other liabilities (1) 4 5.75%, Feb 14, 2036 192 186 680 407 International, Inc., Net cash provided by (used in) operating 4.19%, Apr 25, 2042 758 723 activities (23,610) (20,754) 620 407 International, Inc., Cash flows from financing activities 3.65%, Sep 08, 2044 625 607 Proceeds from sale of units 44,339 24,305 420 407 International, Inc., Payments for units redeemed (20,828) (3,452) 3.30%, Mar 27, 2045 389 386 Net cash provided by (used in) financing 585 407 International, Inc., activities 23,511 20,853 3.83%, May 11, 2046 600 590 610 407 International, Inc., Net increase (decrease) in cash (99) 99 3.60%, May 21, 2047 585 591 Cash (bank overdraft) beginning of year 152 53 180 407 International, Inc., Cash (bank overdraft) end of year 53 152 3.72%, May 11, 2048 181 178 365 407 International, Inc., Supplemental information on cash flows from operating activities: 3.98%, Sep 11, 2052 370 372 Interest received, net of foreign withholding taxes 2,886 2,014 215 407 International, Inc., 4.68%, Oct 07, 2053 248 248 300 Aéroports de Montréal, 5.67%, Oct 16, 2037 399 390 40 Aéroports de Montréal, 3.92%, Sep 26, 2042 44 42 270 Aéroports de Montréal, 3.36%, Apr 24, 2047 269 260 190 AIMCo Realty Investors LP, 3.04%, Jun 01, 2028 187 187 175 Alectra, Inc., 5.30%, Apr 29, 2041 218 214 70 Alimentation Couche-Tard, Inc., 3.06%, Jul 26, 2024 67 68 40 AltaGas Ltd., 5.16%, Jan 13, 2044 41 38 370 AltaGas Ltd., 4.50%, Aug 15, 2044 355 313 425 AltaGas Ltd., 4.99%, Oct 04, 2047 437 386 455 AltaLink LP, 5.38%, Mar 26, 2040 571 561 250 AltaLink LP, 4.46%, Nov 08, 2041 275 277 425 AltaLink LP, 3.99%, Jun 30, 2042 453 440 390 AltaLink LP, 4.92%, Sep 17, 2043 476 462 350 AltaLink LP, 4.05%, Nov 21, 2044 377 367

The accompanying notes are an integral part of the financial statements.

89 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 460 AltaLink LP, 250 Canadian National Railway Co., 4.09%, Jun 30, 2045 500 484 3.20%, Jul 31, 2028 244 252 360 AltaLink LP, 350 Canadian National Railway Co., 3.72%, Dec 03, 2046 351 357 3.95%, Sep 22, 2045 357 361 765 AltaLink LP, 605 Canadian National Railway Co., 4.45%, Jul 11, 2053 831 854 3.60%, Aug 01, 2047 609 588 125 Bank of Montreal, 30 Canadian Natural Resources Ltd., 4.61%, Sep 10, 2025 151 137 3.55%, Jun 03, 2024 30 30 150 Bank of Montreal, 180 Canadian Natural Resources Ltd., 3.19%, Mar 01, 2028 147 150 3.42%, Dec 01, 2026 173 173 650 Bell Canada, Inc., 245 Canadian Natural Resources Ltd., 3.55%, Mar 02, 2026 684 646 4.85%, May 30, 2047 249 243 90 Bell Canada, Inc., 90 Canadian Pacific Railway Co., 7.00%, Sep 24, 2027 115 110 6.45%, Nov 17, 2039 120 120 320 Bell Canada, Inc., 230 Canadian Tire Corp., Ltd., 3.80%, Aug 21, 2028 313 317 6.45%, Feb 24, 2034 287 274 180 Bell Canada, Inc., 165 Canadian Tire Corp., Ltd., 7.85%, Apr 02, 2031 239 240 5.61%, Sep 04, 2035 189 182 280 Bell Canada, Inc., 200 CARDS II Trust, 7.30%, Feb 23, 2032 371 359 2.16%, Oct 15, 2020 200 198 500 Bell Canada, Inc., 40 Choice Properties LP, 6.10%, Mar 16, 2035 593 589 3.60%, Apr 20, 2020 41 40 715 Bell Canada, Inc., 500 Choice Properties REIT, 4.75%, Sep 29, 2044 744 714 3.50%, Feb 08, 2021 528 504 600 Bell Canada, Inc., 460 Choice Properties REIT, 4.35%, Dec 18, 2045 583 562 4.18%, Mar 08, 2028 453 456 635 Bell Canada, Inc., 130 Choice Properties REIT, 4.45%, Feb 27, 2047 639 605 5.27%, Mar 07, 2046 145 137 150 British Columbia Ferry Services, Inc., 20 CU, Inc., 6.25%, Oct 13, 2034 200 198 5.90%, Nov 20, 2034 26 25 500 British Columbia Ferry Services, Inc., 190 CU, Inc., 5.58%, Jan 11, 2038 648 634 5.18%, Nov 21, 2035 227 224 250 British Columbia Ferry Services, Inc., 175 CU, Inc., 4.70%, Oct 23, 2043 296 294 5.03%, Nov 20, 2036 206 203 50 Brookfield Asset Management, Inc., 200 CU, Inc., 4.54%, Mar 31, 2023 53 52 5.58%, May 26, 2038 251 248 275 Brookfield Asset Management, Inc., 75 CU, Inc., 5.95%, Jun 14, 2035 316 304 6.50%, Mar 07, 2039 106 103 340 Brookfield Infrastructure Finance ULC, 530 CU, Inc., 4.19%, Sep 11, 2028 329 337 4.54%, Oct 24, 2041 620 586 50 Brookfield Renewable Partners ULC, 510 CU, Inc., 5.14%, Oct 13, 2020 54 52 3.81%, Sep 10, 2042 502 508 75 Brookfield Renewable Partners ULC, 585 CU, Inc., 3.63%, Jan 15, 2027 75 72 4.72%, Sep 09, 2043 687 667 40 Brookfield Renewable Partners ULC, 1,300 CU, Inc., 5.84%, Nov 05, 2036 46 44 4.09%, Sep 02, 2044 1,399 1,354 370 Bruce Power LP, 620 CU, Inc., 4.01%, Jun 21, 2029 375 371 3.96%, Jul 27, 2045 654 635 200 Bruce Power LP, 640 CU, Inc., 4.13%, Jun 21, 2033 192 195 3.76%, Nov 19, 2046 624 633 500 Caisse centrale Desjardins, 520 CU, Inc., 2.44%, Jul 17, 2019 501 501 3.55%, Nov 22, 2047 541 494 140 Cameco Corp., 275 CU, Inc., 5.09%, Nov 14, 2042 130 125 4.95%, Nov 18, 2050 318 328 200 Canadian National Railway Co., 305 CU, Inc., 2.75%, Feb 18, 2021 202 201 3.86%, Nov 14, 2052 296 301 125 Canadian National Railway Co., 200 CU, Inc., 2.80%, Sep 22, 2025 131 125 4.56%, Nov 07, 2053 221 224

The accompanying notes are an integral part of the financial statements.

90 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 300 CU, Inc., 230 EPCOR Utilities, Inc., 4.21%, Oct 29, 2055 325 317 5.75%, Nov 24, 2039 307 295 100 CU, Inc., 300 EPCOR Utilities, Inc., 4.59%, Oct 24, 2061 112 113 4.55%, Feb 28, 2042 342 335 230 CU, Inc., 340 EPCOR Utilities, Inc., 3.83%, Sep 11, 2062 221 224 3.55%, Nov 27, 2047 330 327 215 Enbridge Gas Distribution, Inc., 50 Fairfax Financial Holdings Ltd., 7.60%, Oct 29, 2026 302 276 4.70%, Dec 16, 2026 53 51 95 Enbridge Gas Distribution, Inc., 150 Fairfax Financial Holdings Ltd., 6.10%, May 19, 2028 120 114 4.25%, Dec 06, 2027 146 147 25 Enbridge Gas Distribution, Inc., 430 Finning International, Inc., 6.90%, Nov 15, 2032 35 34 5.08%, Jun 13, 2042 485 485 135 Enbridge Gas Distribution, Inc., 50 First Capital Realty, Inc., 4.50%, Nov 23, 2043 148 148 3.75%, Jul 12, 2027 50 48 330 Enbridge Gas Distribution, Inc., 50 Fortis, Inc., 4.00%, Aug 22, 2044 333 335 6.51%, Jul 04, 2039 68 65 400 Enbridge Gas Distribution, Inc., 290 FortisAlberta, Inc., 3.51%, Nov 29, 2047 390 375 5.40%, Apr 21, 2036 358 350 370 Enbridge Gas Distribution, Inc., 140 FortisAlberta, Inc., 4.95%, Nov 22, 2050 431 436 5.85%, Apr 15, 2038 184 179 70 Enbridge Pipelines, Inc., 200 FortisAlberta, Inc., 5.33%, Apr 06, 2040 81 78 4.11%, Sep 29, 2044 205 210 150 Enbridge Pipelines, Inc., 225 FortisAlberta, Inc., 4.55%, Aug 17, 2043 160 150 4.27%, Sep 22, 2045 253 242 605 Enbridge Pipelines, Inc., 100 FortisAlberta, Inc., 4.55%, Sep 29, 2045 624 606 3.34%, Sep 21, 2046 95 92 450 Enbridge Pipelines, Inc., 110 FortisAlberta, Inc., 4.13%, Aug 09, 2046 452 422 4.99%, Jan 03, 2047 137 132 270 Enbridge, Inc., 200 FortisAlberta, Inc., 6.10%, Jul 14, 2028 322 304 3.67%, Sep 09, 2047 200 195 150 Enbridge, Inc., 300 FortisAlberta, Inc., 7.22%, Jul 24, 2030 192 184 4.80%, Oct 27, 2050 345 351 40 Enbridge, Inc., 175 FortisAlberta, Inc., 7.20%, Jun 18, 2032 53 51 3.98%, Oct 23, 2052 163 179 220 Enbridge, Inc., 150 FortisBC Energy, Inc., 5.57%, Nov 14, 2035 241 241 2.58%, Apr 08, 2026 153 146 179 Enbridge, Inc., 550 FortisBC Energy, Inc., 5.75%, Sep 02, 2039 206 199 6.50%, May 01, 2034 753 729 150 Enbridge, Inc., 140 FortisBC Energy, Inc., 5.12%, Sep 28, 2040 161 154 6.00%, Oct 02, 2037 185 183 765 Enbridge, Inc., 210 FortisBC Energy, Inc., 4.24%, Aug 27, 2042 715 699 6.05%, Feb 15, 2038 282 275 960 Enbridge, Inc., 240 FortisBC Energy, Inc., 4.57%, Mar 11, 2044 955 926 5.80%, May 13, 2038 313 307 250 Enbridge, Inc., 40 FortisBC Energy, Inc., 4.87%, Nov 21, 2044 252 249 6.55%, Feb 24, 2039 58 55 20 Énergir, Inc., 400 FortisBC Energy, Inc., 7.20%, Nov 19, 2027 27 26 4.25%, Dec 09, 2041 439 427 50 Énergir, Inc., 400 FortisBC Energy, Inc., 7.05%, Oct 30, 2030 70 67 3.38%, Apr 13, 2045 390 375 100 Énergir, Inc., 70 FortisBC Energy, Inc., 5.70%, Jul 10, 2036 128 125 3.67%, Apr 09, 2046 70 69 150 Énergir, Inc., 100 FortisBC Energy, Inc., 3.53%, May 16, 2047 150 145 3.78%, Mar 06, 2047 107 100 175 EPCOR Utilities, Inc., 430 FortisBC Energy, Inc., 5.65%, Nov 16, 2035 218 216 3.69%, Oct 30, 2047 461 424 220 EPCOR Utilities, Inc., 110 FortisBC, Inc., 6.65%, Apr 15, 2038 308 306 6.10%, Jun 02, 2039 148 145

The accompanying notes are an integral part of the financial statements.

91 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 40 FortisBC, Inc., 305 Hydro One, Inc., 4.00%, Oct 28, 2044 42 41 5.00%, Oct 19, 2046 375 362 210 FortisBC, Inc., 555 Hydro One, Inc., 5.90%, Jul 04, 2047 299 282 3.72%, Nov 18, 2047 561 538 50 FortisBC, Inc., 300 Hydro One, Inc., 5.00%, Nov 24, 2050 58 60 4.00%, Dec 22, 2051 303 302 75 GE Capital Canada Funding Co., 300 Hydro One, Inc., 5.73%, Oct 22, 2037 94 74 3.79%, Jul 31, 2062 320 287 50 George Weston Ltd., 400 IGM Financial, Inc., 4.12%, Jun 17, 2024 55 51 3.44%, Jan 26, 2027 403 396 30 George Weston Ltd., 182 IGM Financial, Inc., 7.10%, Feb 05, 2032 39 37 6.00%, Dec 10, 2040 221 221 110 George Weston Ltd., 350 IGM Financial, Inc., 6.69%, Mar 01, 2033 139 130 4.56%, Jan 25, 2047 365 359 300 Greater Toronto Airports Authority, 240 IGM Financial, Inc., 7.05%, Jun 12, 2030 431 408 4.12%, Dec 09, 2047 238 229 430 Greater Toronto Airports Authority, 100 Intact Financial Corp., 7.10%, Jun 04, 2031 616 593 2.85%, Jun 07, 2027 100 95 530 Greater Toronto Airports Authority, 90 Intact Financial Corp., 6.47%, Feb 02, 2034 729 713 6.40%, Nov 23, 2039 116 119 290 Greater Toronto Airports Authority, 285 Intact Financial Corp., 5.63%, Jun 07, 2040 384 380 5.16%, Jun 16, 2042 335 326 195 Greater Toronto Airports Authority, 620 Inter Pipeline Ltd., 5.30%, Feb 25, 2041 250 246 4.64%, May 30, 2044 633 588 375 Greater Toronto Airports Authority, 50 Investors Group, Inc., 4.53%, Dec 02, 2041 442 432 7.00%, Dec 31, 2032 66 64 250 Great-West Lifeco, Inc., 100 Keyera Corp., 3.34%, Feb 28, 2028 247 251 3.93%, Jun 21, 2028 97 98 215 Great-West Lifeco, Inc., 50 Laurentian Bank of Canada, 6.67%, Mar 21, 2033 289 281 2.50%, Jan 23, 2020 50 50 283 Great-West Lifeco, Inc., 425 Loblaw Cos., Ltd., 6.00%, Nov 16, 2039 366 363 4.86%, Sep 12, 2023 480 449 470 HSBC Bank Canada, 75 Loblaw Cos., Ltd., 2.54%, Jan 31, 2023 463 460 6.65%, Nov 08, 2027 94 89 25 Husky Energy, Inc., 50 Loblaw Cos., Ltd., 3.60%, Mar 10, 2027 25 24 6.45%, Feb 09, 2028 62 59 380 Hydro One, Inc., 50 Loblaw Cos., Ltd., 7.35%, Jun 03, 2030 515 516 6.50%, Jan 22, 2029 62 59 300 Hydro One, Inc., 100 Loblaw Cos., Ltd., 6.93%, Jun 01, 2032 415 399 6.85%, Mar 01, 2032 128 122 115 Hydro One, Inc., 100 Loblaw Cos., Ltd., 6.35%, Jan 31, 2034 155 148 6.54%, Feb 17, 2033 126 120 470 Hydro One, Inc., 100 Loblaw Cos., Ltd., 5.36%, May 20, 2036 580 559 6.05%, Jun 09, 2034 122 115 140 Hydro One, Inc., 200 Loblaw Cos., Ltd., 4.89%, Mar 13, 2037 157 159 6.15%, Jan 29, 2035 241 233 275 Hydro One, Inc., 110 Loblaw Cos., Ltd., 6.03%, Mar 03, 2039 371 357 5.90%, Jan 18, 2036 130 125 220 Hydro One, Inc., 75 Loblaw Cos., Ltd., 5.49%, Jul 16, 2040 268 271 6.45%, Mar 01, 2039 100 91 125 Hydro One, Inc., 100 Lower Mattagami Energy LP, 4.39%, Sep 26, 2041 136 134 2.31%, Oct 21, 2026 92 95 360 Hydro One, Inc., 500 Lower Mattagami Energy LP, 4.59%, Oct 09, 2043 410 399 4.18%, Feb 23, 2046 536 533 770 Hydro One, Inc., 350 Metro, Inc., 4.17%, Jun 06, 2044 795 802 3.39%, Dec 06, 2027 338 335 565 Hydro One, Inc., 135 Metro, Inc., 3.91%, Feb 23, 2046 593 566 5.97%, Oct 15, 2035 156 157

The accompanying notes are an integral part of the financial statements.

92 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 510 Metro, Inc., 255 Rogers Communications, Inc., 5.03%, Dec 01, 2044 551 533 5.34%, Mar 22, 2021 290 268 490 Metro, Inc., 150 Rogers Communications, Inc., 4.27%, Dec 04, 2047 483 456 6.68%, Nov 04, 2039 197 188 100 National Bank of Canada, 420 Rogers Communications, Inc., 1.96%, Jun 30, 2022 101 97 6.11%, Aug 25, 2040 504 495 125 NAV CANADA, 125 Rogers Communications, Inc., 7.40%, Jun 01, 2027 174 166 6.56%, Mar 22, 2041 169 155 125 NAV CANADA, 210 Royal Bank of Canada, 3.53%, Feb 23, 2046 130 127 1.58%, Sep 13, 2021 202 204 210 NAV CANADA, 80 Royal Bank of Canada, FRN 3.29%, Mar 30, 2048 206 203 3.04%, Jul 17, 2024 80 80 55 North West Redwater Partnership / NWR 585 Shaw Communications, Inc., Financing Co., Ltd., 6.75%, Nov 09, 2039 716 698 2.80%, Jun 01, 2027 52 52 300 Suncor Energy, Inc., 150 North West Redwater Partnership / NWR 5.39%, Mar 26, 2037 352 342 Financing Co., Ltd., 360 Suncor Energy, Inc., 4.25%, Jun 01, 2029 161 157 4.34%, Sep 13, 2046 363 362 150 North West Redwater Partnership / NWR 125 TELUS Communications, Inc., Financing Co., Ltd., 9.65%, Apr 08, 2022 175 149 4.15%, Jun 01, 2033 158 153 90 TELUS Corp., 1,000 North West Redwater Partnership / NWR 3.63%, Mar 01, 2028 87 88 Financing Co., Ltd., 635 TELUS Corp., 3.65%, Jun 01, 2035 972 959 4.40%, Apr 01, 2043 627 594 50 North West Redwater Partnership / NWR 525 TELUS Corp., Financing Co., Ltd., 5.15%, Nov 26, 2043 564 546 4.35%, Jan 10, 2039 53 51 1,105 TELUS Corp., 130 North West Redwater Partnership / NWR 4.85%, Apr 05, 2044 1,130 1,105 Financing Co., Ltd., 600 TELUS Corp., 3.70%, Feb 23, 2043 126 121 4.75%, Jan 17, 2045 615 590 1,560 North West Redwater Partnership / NWR 685 TELUS Corp., Financing Co., Ltd., 4.40%, Jan 29, 2046 641 637 4.05%, Jul 22, 2044 1,553 1,532 365 TELUS Corp., 170 Nova Scotia Power, Inc., 4.70%, Mar 06, 2048 384 356 6.95%, Aug 25, 2033 237 230 200 Teranet Holdings LP, 185 Nova Scotia Power, Inc., 5.75%, Dec 17, 2040 207 204 5.95%, Jul 27, 2039 242 236 90 Teranet Holdings LP, 130 Nova Scotia Power, Inc., 6.10%, Jun 17, 2041 99 96 5.61%, Jun 15, 2040 167 161 150 The Bank of Nova Scotia, 285 Nova Scotia Power, Inc., 1.83%, Apr 27, 2022 150 145 4.15%, Mar 06, 2042 303 293 170 The Bank of Nova Scotia, 305 Nova Scotia Power, Inc., 3.10%, Feb 02, 2028 165 169 4.50%, Jul 20, 2043 334 329 50 The Toronto-Dominion Bank, 300 Nova Scotia Power, Inc., 3.23%, Jul 24, 2024 53 51 3.61%, May 01, 2045 291 282 160 The Toronto-Dominion Bank, 60 OMERS Realty Corp., 3.59%, Sep 14, 2028 158 159 3.63%, Jun 05, 2030 59 61 200 Toronto Hydro Corp., 660 Pembina Pipeline Corp., 5.54%, May 21, 2040 263 253 4.75%, Apr 30, 2043 664 632 340 Toronto Hydro Corp., 715 Pembina Pipeline Corp., 4.08%, Sep 16, 2044 368 360 4.81%, Mar 25, 2044 709 690 395 Toronto Hydro Corp., 715 Pembina Pipeline Corp., 3.55%, Jul 28, 2045 375 383 4.74%, Jan 21, 2047 721 686 270 Toronto Hydro Corp., 350 Power Corp. of Canada, 3.49%, Feb 28, 2048 279 258 4.81%, Jan 31, 2047 371 363 50 Toronto Hydro Corp., 210 Power Financial Corp., 3.96%, Apr 09, 2063 53 51 6.90%, Mar 11, 2033 279 272 100 Toyota Credit Canada, Inc., 2.35%, Jul 18, 2022 99 98

The accompanying notes are an integral part of the financial statements.

93 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED MANULIFE ASSET MANAGEMENT MID-TERM LIABILITY CORPORATE BOND POOLED FUND FUND

CONCENTRATION RISK PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE The following table summarizes the Fund’s concentration risk. NO. OF UNITS NAME ($) (’000) ($) (’000) % of net assets attributable to 25 TransAlta Corp., unitholders 5.00%, Nov 25, 2020 26 26 Portfolio by category December 31, 2018 December 31, 2017 120 TransCanada PipeLines Ltd., Bonds 11.80%, Nov 20, 2020 154 139 Canada 450 TransCanada PipeLines Ltd., Corporate Bonds 98.9 98.7 3.39%, Mar 15, 2028 452 437 Provincial Bonds - 0.1 210 TransCanada PipeLines Ltd., Other assets less liabilities 1.1 1.2 6.28%, May 26, 2028 261 248 100.0 100.0 145 TransCanada PipeLines Ltd., 8.05%, Feb 17, 2039 224 206 480 TransCanada PipeLines Ltd., 4.55%, Nov 15, 2041 516 474 770 TransCanada PipeLines Ltd., 4.35%, Jun 06, 2046 782 736 990 TransCanada PipeLines Ltd., 4.33%, Sep 16, 2047 1,030 940 120 TransCanada PipeLines Ltd., 4.18%, Jul 03, 2048 114 111 220 Union Gas Ltd., 6.05%, Sep 02, 2038 298 286 225 Union Gas Ltd., 5.20%, Jul 23, 2040 272 267 150 Union Gas Ltd., 4.88%, Jun 21, 2041 179 172 495 Union Gas Ltd., 4.20%, Jun 02, 2044 519 519 240 Union Gas Ltd., 3.80%, Jun 01, 2046 250 236 250 Union Gas Ltd., 3.59%, Nov 22, 2047 249 236 50 Ventas Canada Finance Ltd., 4.13%, Sep 30, 2024 51 51 75 Wells Fargo Canada Corp., 3.46%, Jan 24, 2023 80 76 245 Westcoast Energy, Inc., 7.15%, Mar 20, 2031 325 311 25 Westcoast Energy, Inc., 4.79%, Oct 28, 2041 25 26 84,340 82,020 Total investments 84,340 82,020 Other assets less liabilities 1.1% 953 Net assets attributable to unitholders 100.0% 82,973

The accompanying notes are an integral part of the financial statements.

94 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT LONG-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT LONG-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 7,335 8,740 Investments, at fair value 171,139 257,904 Realized gain (loss) on sales of investments (1,074) 1,894 Cash 166 377 Change in unrealized appreciation (depreciation) in Subscriptions receivable 25 211 the value of investments (11,843) 12,371 Receivable from Manager - 3 (5,582) 23,005 Interest, dividends and other receivables 526 900 Expenses 171,856 259,395 Audit fees 5 7 Transfer agent fees 3 4 Liabilities Filing fees 2 1 Current liabilities Unitholder reporting costs 48 37 Redemptions payable 5 204 Custodial fees 12 44 Payable on investments purchased 101 224 Accrued expenses and other liabilities 16 29 70 93 Less operating expenses absorbed by manager - (2) 122 457 Net operating expenses 70 91 Net assets attributable to unitholders 171,734 258,938 Increase (decrease) in net assets attributable Net assets attributable to unitholders per unit to unitholders (5,652) 22,914 99.04 105.07 Increase (decrease) in net assets attributable to unitholders per unit (2.97) 10.29

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 258,938 218,825 Increase (decrease) in net assets attributable to unitholders (5,652) 22,914 Distribution to unitholders from: Net investment income (7,260) (8,674) Net realized gains - (2,393)

Total distributions to unitholders (7,260) (11,067)

Security transactions Proceeds from units issued 31,392 49,376 Reinvestments of distributions to unitholders 7,260 11,067 Redemption of units (112,944) (32,177)

Total security transactions (74,292) 28,266

Net assets attributable to unitholders - end of year 171,734 258,938

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 2,465 2,185 Units issued 303 479 Units issued for reinvestment of distributions 73 105 Units redeemed (1,107) (304)

Units outstanding end of year 1,734 2,465

The accompanying notes are an integral part of the financial statements.

95 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT LONG-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT LONG-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 99.7% Increase (decrease) in net assets attributable to Canada 99.7% unitholders (5,652) 22,914 Provincial Bonds 82.7% Adjustments for: 1,240 Financement-Québec, Realized gain (loss) on sales of investments 1,074 (1,894) 5.25%, Jun 01, 2034 1,482 1,550 Change in unrealized appreciation (depreciation) in 1,225 Province of Alberta, the value of investments 11,843 (12,371) 3.90%, Dec 01, 2033 1,317 1,331 Purchases of investments (50,683) (134,018) 700 Province of Alberta, Proceeds from disposition of investments 124,408 108,283 4.50%, Dec 01, 2040 859 834 Receivable from Manager 3 (3) 550 Province of Alberta, Interest, dividends and other receivables 374 (124) 3.45%, Dec 01, 2043 563 564 Accrued expenses and other liabilities (13) 12 1,580 Province of Alberta, 3.30%, Dec 01, 2046 1,634 1,579 Net cash provided by (used in) operating 6,170 Province of Alberta, activities 81,354 (17,201) 3.05%, Dec 01, 2048 6,088 5,900 Cash flows from financing activities 1,350 Province of British Columbia, Proceeds from sale of units 31,578 49,497 4.95%, Jun 18, 2040 1,772 1,749 Payments for units redeemed (113,143) (31,975) 3,492 Province of British Columbia, Net cash provided by (used in) financing 4.30%, Jun 18, 2042 4,230 4,197 activities (81,565) 17,522 6,955 Province of British Columbia, 3.20%, Jun 18, 2044 6,916 7,093 Net increase (decrease) in cash (211) 321 6,450 Province of British Columbia, Cash (bank overdraft) beginning of year 377 56 2.80%, Jun 18, 2048 6,165 6,115 Cash (bank overdraft) end of year 166 377 300 Province of Manitoba, 3.00%, Jun 02, 2028 299 302 Supplemental information on cash flows from operating activities: 525 Province of Manitoba, Interest received, net of foreign withholding taxes 7,709 8,616 4.60%, Mar 05, 2038 658 621 200 Province of Manitoba, 4.65%, Mar 05, 2040 260 240 50 Province of Manitoba, 4.10%, Mar 05, 2041 58 56 695 Province of Manitoba, 4.40%, Mar 05, 2042 783 812 450 Province of Manitoba, 3.35%, Mar 05, 2043 443 450 375 Province of Manitoba, 2.85%, Sep 05, 2046 343 341 965 Province of Manitoba, 3.40%, Sep 05, 2048 1,004 976 28 Province of Manitoba, 4.70%, Mar 05, 2050 35 35 570 Province of Manitoba, 3.15%, Sep 05, 2052 574 547 10,000 Province of Manitoba Residual Strip, zero coupon, Mar 05, 2063 2,568 2,406 225 Province of New Brunswick, 4.80%, Sep 26, 2039 268 272 475 Province of New Brunswick, 4.80%, Jun 03, 2041 571 578 455 Province of New Brunswick, 3.55%, Jun 03, 2043 462 465 514 Province of New Brunswick, 3.80%, Aug 14, 2045 538 548 1,150 Province of New Brunswick, 3.10%, Aug 14, 2048 1,177 1,085

The accompanying notes are an integral part of the financial statements.

96 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT LONG-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT LONG-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 710 Province of New Brunswick, 2,250 Province of Ontario Generic Strip Residual, 3.55%, Jun 03, 2055 749 724 zero coupon, Jun 02, 2048 886 890 505 Province of Newfoundland and Labrador, 150 Province of Prince Edward Island, 5.60%, Oct 17, 2033 667 640 5.70%, Jun 15, 2035 202 193 125 Province of Newfoundland and Labrador, 965 Province of Prince Edward Island, 4.65%, Oct 17, 2040 146 148 4.60%, May 19, 2041 1,047 1,136 590 Province of Newfoundland and Labrador, 100 Province of Prince Edward Island, 3.30%, Oct 17, 2046 573 570 3.60%, Jan 17, 2053 104 102 1,140 Province of Newfoundland and Labrador, 1,050 Province of Quebec, 3.70%, Oct 17, 2048 1,183 1,189 6.25%, Jun 01, 2032 1,462 1,431 710 Province of Nova Scotia, 1,065 Province of Quebec, 4.40%, Jun 01, 2042 830 846 5.75%, Dec 01, 2036 1,461 1,453 200 Province of Nova Scotia, 3,300 Province of Quebec, 3.45%, Jun 01, 2045 216 207 5.00%, Dec 01, 2038 4,149 4,218 2,090 Province of Nova Scotia, 3,070 Province of Quebec, 3.50%, Jun 02, 2062 2,073 2,222 5.00%, Dec 01, 2041 3,814 3,999 220 Province of Ontario, 2,380 Province of Quebec, 2.90%, Jun 02, 2028 217 221 4.25%, Dec 01, 2043 2,841 2,831 250 Province of Ontario, 2,650 Province of Quebec, 6.50%, Mar 08, 2029 324 329 3.50%, Dec 01, 2045 2,883 2,817 800 Province of Ontario, 12,570 Province of Quebec, 5.85%, Mar 08, 2033 1,066 1,057 3.50%, Dec 01, 2048 13,778 13,461 779 Province of Ontario, 1,950 Province of Quebec Residual Strip, 5.60%, Jun 02, 2035 1,057 1,026 zero coupon, Dec 01, 2043 825 893 2,360 Province of Ontario, 1,460 Province of Saskatchewan, 4.70%, Jun 02, 2037 2,953 2,868 4.75%, Jun 01, 2040 1,781 1,798 3,600 Province of Ontario, 845 Province of Saskatchewan, 4.60%, Jun 02, 2039 4,419 4,370 3.40%, Feb 03, 2042 844 864 2,420 Province of Ontario, 1,100 Province of Saskatchewan, 4.65%, Jun 02, 2041 2,937 2,980 3.90%, Jun 02, 2045 1,249 1,221 3,190 Province of Ontario, 1,620 Province of Saskatchewan, 3.50%, Jun 02, 2043 3,407 3,349 2.75%, Dec 02, 2046 1,433 1,464 3,185 Province of Ontario, 1,060 Province of Saskatchewan, 3.45%, Jun 02, 2045 3,294 3,324 3.30%, Jun 02, 2048 1,098 1,069 4,650 Province of Ontario, 142,444 141,991 2.90%, Dec 02, 2046 4,552 4,389 17,850 Province of Ontario, Corporate Bonds 17.0% 2.80%, Jun 02, 2048 16,669 16,544 60 Hydro-Québec, 2,245 Province of Ontario, 6.00%, Aug 15, 2031 81 79 2.90%, Jun 02, 2049 2,180 2,126 738 Hydro-Québec, 1,500 Province of Ontario Generic Coupon Strip, 6.50%, Feb 15, 2035 1,101 1,055 zero coupon, Jun 02, 2029 986 1,093 95 Hydro-Québec, 2,000 Province of Ontario Generic Coupon Strip, 6.00%, Feb 15, 2040 132 136 zero coupon, Jun 02, 2031 1,211 1,363 2,835 Hydro-Québec, 2,000 Province of Ontario Generic Coupon Strip, 5.00%, Feb 15, 2050 3,614 3,877 zero coupon, Dec 02, 2032 1,145 1,287 1,830 Hydro-Québec, 5,540 Province of Ontario Generic Coupon Strip, 4.00%, Feb 15, 2055 2,229 2,177 zero coupon, Dec 02, 2033 3,437 3,440 140 Hydro-Québec Interest Strip, 2,500 Province of Ontario Generic Strip Residual, zero coupon, Feb 15, 2045 61 60 zero coupon, Jun 02, 2031 1,728 1,733 5,700 Hydro-Québec Residual Strip, 2,000 Province of Ontario Generic Strip Residual, zero coupon, Feb 15, 2035 3,454 3,439 zero coupon, Jun 02, 2035 1,193 1,192 1,900 Hydro-Québec Residual Strip, 1,900 Province of Ontario Generic Strip Residual, zero coupon, Feb 15, 2045 814 833 zero coupon, Jun 02, 2037 1,075 1,059 1,517 Province of Ontario Generic Strip Residual, zero coupon, Jun 02, 2043 687 694 1,250 Province of Ontario Generic Strip Residual, zero coupon, Dec 02, 2046 546 515

The accompanying notes are an integral part of the financial statements.

97 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT LONG-TERM LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT LONG-TERM LIABILITY GOVERNMENT BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 40,575 Hydro-Québec Residual Strip, zero coupon, Feb 15, 2050 16,108 15,550 5,840 Hydro-Québec Residual Strip, zero coupon, Feb 15, 2055 2,144 1,942 29,738 29,148 Total investments 172,182 171,139 Other assets less liabilities 0.3% 595 Net assets attributable to unitholders 100.0% 171,734

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Bonds Canada Provincial Bonds 82.7 77.9 Corporate Bonds 17.0 21.7 Other assets less liabilities 0.3 0.4 100.0 100.0

The accompanying notes are an integral part of the financial statements.

98 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT LEVERAGED LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT LEVERAGED LIABILITY GOVERNMENT BOND POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 847 Investments, at fair value 29,538 Realized gain (loss) on sales of investments 3 Cash 112 Change in unrealized appreciation (depreciation) in the value of Interest, dividends and other receivables 437 investments (464) 30,087 386 Liabilities Expenses Audit fees 3 Current liabilities Transfer agent fees 1 Accrued expenses and other liabilities 127 Interest expense & bank charges 273 Repurchase agreements 19,865 Unitholder reporting costs 4 19,992 Custodial fees 11 Net assets attributable to unitholders 10,095 292 Net assets attributable to unitholders per unit Increase (decrease) in net assets attributable to unitholders 94 10.00 Increase (decrease) in net assets attributable to unitholders per unit 0.11

STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the period ended December 31 2018 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of period - Increase (decrease) in net assets attributable to unitholders 94 Distribution to unitholders from: Net investment income (94)

Total distributions to unitholders (94)

Security transactions Proceeds from units issued 10,001 Reinvestments of distributions to unitholders 94

Total security transactions 10,095

Net assets attributable to unitholders - end of period 10,095

Changes due to unitholder transactions (Note 4) Units outstanding beginning of period - Units issued 1,000 Units issued for reinvestment of distributions 9 Units redeemed -

Units outstanding end of period 1,009

The accompanying notes are an integral part of the financial statements.

99 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT LEVERAGED LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT LEVERAGED LIABILITY GOVERNMENT BOND POOLED FUND FUND

STATEMENT OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the period ended December 31 2018 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 292.6% Increase (decrease) in net assets attributable to unitholders 94 Canada 292.6% Adjustments for: Provincial Bonds 283.1% Realized gain (loss) on sales of investments (3) 1,520 Province of Alberta, Change in unrealized appreciation (depreciation) in the value of 2.55%, Jun 01, 2027 1,485 1,487 investments 464 1,310 Province of Alberta, Purchases of investments (34,151) 3.05%, Dec 01, 2048 1,285 1,253 Proceeds from disposition of investments 4,152 750 Province of British Columbia, Interest, dividends and other receivables (437) 4.30%, Jun 18, 2042 916 901 Accrued expenses and other liabilities 127 1,000 Province of British Columbia, 3.20%, Jun 18, 2044 1,033 1,020 Net cash provided by (used in) operating activities (29,754) 1,000 Province of British Columbia, Cash flows from financing activities 2.80%, Jun 18, 2048 960 948 Proceeds from sale of units 10,001 820 Province of Manitoba, Repurchase agreements 19,865 3.40%, Sep 05, 2048 855 829 Net cash provided by (used in) financing activities 29,866 1,010 Province of Newfoundland and Labrador, 3.30%, Oct 17, 2046 1,012 976 Net increase (decrease) in cash 112 500 Province of Nova Scotia, Cash (bank overdraft) beginning of period - 3.50%, Jun 02, 2062 550 532 Cash (bank overdraft) end of period 112 2,700 Province of Ontario, Supplemental information on cash flows from operating activities: 3.15%, Jun 02, 2022 2,788 2,772 Interest received, net of foreign withholding taxes 410 1,620 Province of Ontario, Interest paid 273 2.60%, Jun 02, 2027 1,595 1,598 1,090 Province of Ontario, 5.85%, Mar 08, 2033 1,466 1,440 890 Province of Ontario, 5.60%, Jun 02, 2035 1,195 1,172 910 Province of Ontario, 4.70%, Jun 02, 2037 1,127 1,106 1,160 Province of Ontario, 4.60%, Jun 02, 2039 1,435 1,408 2,430 Province of Ontario, 2.80%, Jun 02, 2048 2,299 2,252 510 Province of Quebec, 2.75%, Sep 01, 2028 501 509 1,120 Province of Quebec, 6.00%, Oct 01, 2029 1,464 1,443 1,270 Province of Quebec, 5.75%, Dec 01, 2036 1,760 1,732 1,100 Province of Quebec, 5.00%, Dec 01, 2038 1,427 1,406 780 Province of Quebec, 5.00%, Dec 01, 2041 1,033 1,016 1,730 Province of Quebec, 3.50%, Dec 01, 2048 1,882 1,853 920 Province of Saskatchewan, 3.30%, Jun 02, 2048 958 928 29,026 28,581

The accompanying notes are an integral part of the financial statements.

100 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT LEVERAGED LIABILITY GOVERNMENT BOND POOLED MANULIFE ASSET MANAGEMENT LEVERAGED LIABILITY GOVERNMENT BOND POOLED FUND FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) Corporate Bonds 9.5% 700 Hydro-Québec, 5.00%, Feb 15, 2050 976 957 Total investments 30,002 29,538 Other assets less liabilities (192.6%) (19,443) Net assets attributable to unitholders 100.0% 10,095

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Bonds Canada Provincial Bonds 283.1 - Corporate Bonds 9.5 - Other assets less liabilities (192.6) - 100.0 -

REPURCHASE AGREEMENTS (Note 2) Borrowing Rate Cost Fair Value Face Value Repurchase Value Transaction Date Expiry Date Collateral Description ($)(’000) ($)(’000) ($)(’000) ($)(’000) September 10, 2018 February 28, 2019 Province of Alberta, 2.55%, June 01, 2027 1.90% 1,374 1,370 1,400 1,368 September 10, 2018 February 28, 2019 Province of Alberta, 3.05%, December 01, 2048 1.90% 1,205 1,148 1,200 1,197 September 10, 2018 February 28, 2019 Province of British Columbia, 2.80%, June 18, 2048 1.90% 970 948 1,000 965 September 10, 2018 February 28, 2019 Province of British Columbia, 3.20%, June 18, 2044 1.90% 1,043 1,020 1,000 1,036 September 10, 2018 February 28, 2019 Province of Ontario, 2.60%, June 02, 2027 1.90% 1,473 1,480 1,500 1,467 September 10, 2018 February 28, 2019 Province of Ontario, 2.80%, June 02, 2048 1.90% 2,274 2,224 2,400 2,261 September 10, 2018 February 28, 2019 Province of Ontario, 3.15%, June 02, 2022 1.90% 2,782 2,772 2,700 2,764 September 10, 2018 February 28, 2019 Province of Ontario, 4.60%, June 02, 2039 1.87% 1,360 1,335 1,100 1,346 September 10, 2018 February 28, 2019 Province of Ontario, 5.85%, March 08, 2033 1.90% 1,324 1,321 1,000 1,336 September 10, 2018 February 28, 2019 Province of Quebec, 3.50%, December 01, 2048 1.90% 1,858 1,821 1,700 1,845 September 10, 2018 February 28, 2019 Province of Quebec, 5.00%, December 01, 2038 1.90% 1,299 1,278 1,000 1,285 September 10, 2018 February 28, 2019 Province of Quebec, 5.75%, December 01, 2036 1.87% 1,594 1,569 1,150 1,575 September 10, 2018 February 28, 2019 Province of Quebec, 6.00%, October 01, 2029 1.87% 1,309 1,288 1,000 1,290 19,865 19,574 18,150 19,735

The accompanying notes are an integral part of the financial statements.

101 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT ULTRA LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT ULTRA LONG DURATION FIXED INCOME POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 4,236 4,512 Investments, at fair value 98,002 110,175 Foreign exchange gain (loss) on currency 19 (49) Cash 119 141 Realized gain (loss) on sales of investments 410 1,031 Margin deposited on derivatives 600 30 Realized gain (loss) on derivatives 612 359 Interest, dividends and other receivables 269 278 Change in unrealized appreciation (depreciation) in Derivative assets 11 36 the value of investments (6,389) 6,106 Change in unrealized appreciation (depreciation) in 99,001 110,660 the value of derivatives (73) 31 Liabilities (1,185) 11,990 Current liabilities Expenses Redemptions payable 20 197 Audit fees 5 7 Accrued expenses and other liabilities 15 20 Transfer agent fees 3 4 Derivative liabilities 48 - Interest expense & bank charges - 1 83 217 Unitholder reporting costs 29 23 Custodial fees 20 36 Net assets attributable to unitholders 98,918 110,443 Transaction costs - 7 Net assets attributable to unitholders per unit 57 78 10.39 11.09 Increase (decrease) in net assets attributable to unitholders (1,242) 11,912 Increase (decrease) in net assets attributable to unitholders per unit (0.13) 1.18

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 110,443 111,751 Increase (decrease) in net assets attributable to unitholders (1,242) 11,912 Distribution to unitholders from: Net investment income (4,793) (4,778) Net realized gains (445) (620)

Total distributions to unitholders (5,238) (5,398)

Security transactions Proceeds from units issued 10,095 13,595 Reinvestments of distributions to unitholders 5,238 5,398 Redemption of units (20,378) (26,815)

Total security transactions (5,045) (7,822)

Net assets attributable to unitholders - end of year 98,918 110,443

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 9,962 10,635 Units issued 931 1,260 Units issued for reinvestment of distributions 504 487 Units redeemed (1,877) (2,420)

Units outstanding end of year 9,520 9,962

The accompanying notes are an integral part of the financial statements.

102 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT ULTRA LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT ULTRA LONG DURATION FIXED INCOME POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 99.1% Increase (decrease) in net assets attributable to Canada 97.7% unitholders (1,242) 11,912 Provincial Bonds 64.0% Adjustments for: 500 Labrador-Island Link Funding Trust, Change in unrealized foreign exchange gain (loss) 3.85%, Dec 01, 2053 508 582 on currency (6) 2 500 Maritime Link Financing Trust, Realized gain (loss) on sales of investments (410) (1,031) 3.50%, Dec 01, 2052 498 523 Realized gain (loss) on derivatives (612) (359) 78 Province of Alberta, Change in unrealized appreciation (depreciation) in 4.50%, Dec 01, 2040 84 93 the value of investments 6,389 (6,106) 755 Province of Alberta, Change in unrealized appreciation (depreciation) in 3.45%, Dec 01, 2043 715 775 the value of derivatives 73 (31) 350 Province of Alberta, Purchases of investments (220,590) (104,088) 3.30%, Dec 01, 2046 342 350 Proceeds from disposition of investments 227,396 113,805 200 Province of Alberta, Margin on derivatives (570) (30) 3.05%, Dec 01, 2048 189 191 Interest, dividends and other receivables 9 14 308 Province of British Columbia, Accrued expenses and other liabilities (5) 11 4.30%, Jun 18, 2042 323 370 589 Province of British Columbia, Net cash provided by (used in) operating 3.20%, Jun 18, 2044 539 601 activities 10,432 14,099 439 Province of British Columbia, Cash flows from financing activities 2.80%, Jun 18, 2048 430 416 Proceeds from sale of units 10,095 13,800 995 Province of British Columbia Interest Strip, Payments for units redeemed (20,555) (28,526) zero coupon, Jun 18, 2040 458 515 Net cash provided by (used in) financing 1,205 Province of British Columbia Interest Strip, activities (10,460) (14,726) zero coupon, Jun 18, 2042 548 588 142 Province of Manitoba, Change in unrealized foreign exchange gain (loss) 3.35%, Mar 05, 2043 150 142 on currency 6 (2) 420 Province of Manitoba, Net increase (decrease) in cash (28) (627) 4.05%, Sep 05, 2045 446 471 Cash (bank overdraft) beginning of year 141 770 692 Province of Manitoba, Cash (bank overdraft) end of year 119 141 2.85%, Sep 05, 2046 634 629 300 Province of Manitoba Residual Strip, Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 4,245 4,526 zero coupon, Mar 05, 2042 132 141 Interest paid - 1 1,000 Province of Manitoba Residual Strip, zero coupon, Mar 05, 2044 461 446 850 Province of New Brunswick, 3.55%, Jun 03, 2043 759 868 50 Province of New Brunswick, 3.80%, Aug 14, 2045 55 53 230 Province of New Brunswick, 3.10%, Aug 14, 2048 221 217 220 Province of Nova Scotia, 4.50%, Jun 01, 2037 232 260 120 Province of Nova Scotia, 4.40%, Jun 01, 2042 124 143 675 Province of Nova Scotia, 3.45%, Jun 01, 2045 749 700 100 Province of Nova Scotia, 3.50%, Jun 02, 2062 99 106 10,269 Province of Ontario, 3.45%, Jun 02, 2045 10,858 10,717 392 Province of Ontario, 2.90%, Dec 02, 2046 374 370 477 Province of Ontario, 2.80%, Jun 02, 2048 444 442

The accompanying notes are an integral part of the financial statements.

103 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT ULTRA LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT ULTRA LONG DURATION FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 2,151 Province of Ontario, 400 AltaGas Ltd., 2.90%, Jun 02, 2049 2,044 2,037 4.99%, Oct 04, 2047 400 363 2,950 Province of Ontario Generic Coupon Strip, 65 AltaLink LP, zero coupon, Dec 02, 2038 1,462 1,542 4.46%, Nov 08, 2041 64 72 800 Province of Ontario Generic Coupon Strip, 450 AltaLink LP, zero coupon, Jun 02, 2045 366 338 3.99%, Jun 30, 2042 498 466 3,250 Province of Ontario Generic Strip Residual, 200 AltaLink LP, zero coupon, Jun 02, 2037 1,666 1,812 3.72%, Dec 03, 2046 203 198 8,300 Province of Ontario Generic Strip Residual, 160 Bell Canada, Inc., zero coupon, Jun 02, 2041 4,083 4,051 4.75%, Sep 29, 2044 158 160 21,850 Province of Ontario Generic Strip Residual, 250 Bell Canada, Inc., zero coupon, Jun 02, 2045 9,618 9,410 4.35%, Dec 18, 2045 247 234 5,250 Province of Ontario Generic Strip Residual, 150 Bell Canada, Inc., zero coupon, Jun 02, 2048 2,209 2,078 4.45%, Feb 27, 2047 154 143 4,967 Province of Quebec, 95 Canadian National Railway Co., 3.50%, Dec 01, 2045 5,398 5,280 3.60%, Jul 31, 2048 94 92 138 Province of Quebec, 140 CU, Inc., 3.50%, Dec 01, 2048 147 148 4.54%, Oct 24, 2041 140 155 400 Province of Quebec Interest Strip, 730 CU, Inc., zero coupon, Dec 01, 2038 182 210 3.81%, Sep 10, 2042 746 728 1,860 Province of Quebec Interest Strip, 85 CU, Inc., zero coupon, Jun 01, 2042 800 868 4.72%, Sep 09, 2043 86 97 3,150 Province of Quebec Residual Strip, 25 CU, Inc., zero coupon, Dec 01, 2036 1,629 1,811 4.09%, Sep 02, 2044 27 26 1,050 Province of Quebec Residual Strip, 400 CU, Inc., zero coupon, Dec 01, 2038 495 564 3.96%, Jul 27, 2045 434 409 3,250 Province of Quebec Residual Strip, 150 CU, Inc., zero coupon, Dec 01, 2041 1,473 1,585 3.55%, Nov 22, 2047 150 143 11,150 Province of Quebec Residual Strip, 75 CU, Inc., zero coupon, Dec 01, 2043 4,932 5,105 3.83%, Sep 11, 2062 64 73 10,950 Province of Quebec Residual Strip, 110 Enbridge Gas Distribution, Inc., zero coupon, Dec 01, 2045 4,901 4,718 4.50%, Nov 23, 2043 115 121 100 Province of Saskatchewan, 40 Enbridge Gas Distribution, Inc., 4.75%, Jun 01, 2040 112 123 4.95%, Nov 22, 2050 42 47 1,000 Province of Saskatchewan, 160 Enbridge Pipelines, Inc., 2.75%, Dec 02, 2046 998 904 5.33%, Apr 06, 2040 179 177 58 Province of Saskatchewan, 225 Enbridge Pipelines, Inc., 2.95%, Jun 02, 2058 56 54 4.13%, Aug 09, 2046 218 211 375 Enbridge, Inc., 62,943 63,347 4.57%, Mar 11, 2044 386 362 Corporate Bonds 23.1% 225 Enbridge, Inc., FRN 531 407 International, Inc., 5.38%, Sep 27, 2077 212 208 5.75%, Feb 14, 2036 673 658 225 Enbridge, Inc., FRN 60 407 International, Inc., 6.63%, Apr 12, 2078 231 226 4.45%, Nov 15, 2041 59 66 455 EPCOR Utilities, Inc., 110 407 International, Inc., 4.55%, Feb 28, 2042 507 508 4.19%, Apr 25, 2042 109 117 70 EPCOR Utilities, Inc., 280 407 International, Inc., 3.55%, Nov 27, 2047 70 67 3.65%, Sep 08, 2044 286 274 130 FortisAlberta, Inc., 100 407 International, Inc., 4.54%, Oct 18, 2041 129 145 3.98%, Sep 11, 2052 96 102 650 FortisBC Energy, Inc., 180 Aéroports de Montréal, 3.67%, Apr 09, 2046 674 641 3.92%, Sep 26, 2042 167 190 500 FortisBC Energy, Inc., 150 Alectra, Inc., 3.69%, Oct 30, 2047 500 493 3.96%, Jul 30, 2042 151 155 180 Greater Toronto Airports Authority, 105 AltaGas Ltd., 4.53%, Dec 02, 2041 183 207 4.50%, Aug 15, 2044 105 89 175 Great-West Lifeco, Inc., 6.00%, Nov 16, 2039 212 224

The accompanying notes are an integral part of the financial statements.

104 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT ULTRA LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT ULTRA LONG DURATION FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 100 Hydro One, Inc., 315 TransCanada PipeLines Ltd., 5.49%, Jul 16, 2040 114 123 4.33%, Sep 16, 2047 315 299 150 Hydro One, Inc., 164 Trillium Health Partners Volunteers, 4.59%, Oct 09, 2043 151 166 3.70%, Dec 20, 2058 164 163 40 Hydro One, Inc., 85 Union Gas Ltd., 3.63%, Jun 25, 2049 39 38 4.88%, Jun 21, 2041 88 97 70 Hydro One, Inc., 425 Union Gas Ltd., 3.79%, Jul 31, 2062 59 67 3.59%, Nov 22, 2047 428 402 800 Hydro Québec Interest Strip, 1,000 University of Ottawa, zero coupon, Aug 15, 2036 420 452 3.26%, Oct 12, 2056 1,000 926 850 Hydro Québec Interest Strip, 22,916 22,849 zero coupon, Feb 15, 2037 424 472 650 Hydro Québec Interest Strip, Federal Bonds 8.8% zero coupon, Feb 15, 2042 272 308 138 Canadian Government Bond, 1,000 Hydro Québec Interest Strip, 1.25%, Dec 01, 2047 169 156 zero coupon, Feb 15, 2055 330 320 1,471 Canadian Government Bond, 100 Hydro-Québec, 2.75%, Dec 01, 2048 1,634 1,654 5.00%, Feb 15, 2050 114 137 400 Canadian Government Bond, 250 Hydro-Québec, 2.00%, Dec 01, 2051 365 383 4.00%, Feb 15, 2055 287 297 1,350 Canadian Government Bond, 6,650 Hydro-Québec Residual Strip, 2.75%, Dec 01, 2064 1,505 1,585 zero coupon, Feb 15, 2045 2,896 2,916 1 Canadian Government Bond Residual 8,950 Hydro-Québec Residual Strip, Strip, zero coupon, Feb 15, 2050 3,277 3,430 zero coupon, Jun 01, 2041 1 1 3,000 Hydro-Québec Residual Strip, 3,200 Canadian Government Bond Residual zero coupon, Feb 15, 2055 1,074 998 Strip, 50 Lower Mattagami Energy LP, zero coupon, Dec 01, 2045 1,801 1,793 4.18%, Feb 23, 2046 46 53 5,950 Canadian Government Bond Residual 40 Nova Scotia Power, Inc., Strip, 4.15%, Mar 06, 2042 37 41 zero coupon, Dec 01, 2048 3,075 3,138 200 Nova Scotia Power, Inc., 8,550 8,710 4.50%, Jul 20, 2043 230 216 Municipal Bonds 1.8% 340 Pembina Pipeline Corp., 200 City of Montreal, 4.81%, Mar 25, 2044 354 328 3.50%, Dec 01, 2038 207 201 142 Plenary Properties LTAP LP, 75 City of Montreal, 6.29%, Jan 31, 2044 188 183 6.00%, Jun 01, 2043 91 106 200 Rogers Communications, Inc., 250 City of Ottawa, 6.11%, Aug 25, 2040 247 236 3.05%, Apr 23, 2046 247 232 100 Shaw Communications, Inc., 250 City of Ottawa, 6.75%, Nov 09, 2039 126 119 3.25%, Nov 10, 2047 250 242 50 South Coast British Columbia 200 City of Toronto, Transportation Authority, 4.15%, Mar 10, 2044 199 221 3.15%, Nov 16, 2048 50 47 700 City of Toronto, 200 Sun Life Financial, Inc., 3.25%, Jun 24, 2046 677 668 5.40%, May 29, 2042 225 230 100 City of Toronto, 110 Suncor Energy, Inc., 3.20%, Aug 01, 2048 100 95 5.39%, Mar 26, 2037 116 126 325 TELUS Corp., 1,771 1,765 4.85%, Apr 05, 2044 334 325 96,180 96,671 300 TELUS Corp., 4.75%, Jan 17, 2045 321 295 United States 1.4% 250 TELUS Corp., Federal Bonds 1.2% USD 15 United States Treasury Note, 4.40%, Jan 29, 2046 252 233 35 TransCanada PipeLines Ltd., 2.25%, Feb 29, 2020 19 20 4.55%, Nov 15, 2041 37 35 130 TransCanada PipeLines Ltd., 4.35%, Jun 06, 2046 132 124

The accompanying notes are an integral part of the financial statements.

105 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT ULTRA LONG DURATION FIXED INCOME POOLED MANULIFE ASSET MANAGEMENT ULTRA LONG DURATION FIXED INCOME POOLED FUND FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE CONCENTRATION RISK NO. OF UNITS NAME ($) (’000) ($) (’000) The following table summarizes the Fund’s concentration risk. USD 107 United States Treasury Note, % of net assets attributable to 3.00%, May 15, 2047 138 146 unitholders USD 709 United States Treasury Note, Portfolio by category December 31, 2018 December 31, 2017 3.00%, Aug 15, 2048 864 964 Bonds 1,021 1,130 Canada Provincial Bonds 64.0 66.4 Corporate Bonds 0.2% Corporate Bonds 23.1 23.2 110 AT&T, Inc., Federal Bonds 8.8 7.7 5.10%, Nov 25, 2048 109 105 Municipal Bonds 1.8 1.4 USD 70 Citigroup, Inc., United States 5.30%, May 06, 2044 77 96 Federal Bonds 1.2 0.1 186 201 Corporate Bonds 0.2 0.1 Short-Term Investments - 0.9 1,207 1,331 Derivative liabilities (0.1) - Total investments 97,387 98,002 Other assets less liabilities 1.0 0.2 100.0 100.0 Derivative assets 0.0% 11 Derivative liabilities (0.1%) (48) Other assets less liabilities 1.0% 953 Net assets attributable to unitholders 100.0% 98,918

FORWARD FOREIGN CURRENCY CONTRACTS (0.1%) Purchased currency Sold currency Valueasat Valueasat Unrealized Counter- Settlement December 31, 2018 December 31, 2018 gain/loss party credit Contract price date Currency ($) (’000) Currency ($) (’000) ($) (’000) Counterparty rating USD 0.74710 Jan 31, 2019 USD 546 CAD 535 11 HSBC Bank Canada AA- Derivative assets 11 CAD 1.35788 Jan 31, 2019 CAD 41 USD 41 - Royal Bank of Canada AA- CAD 1.33648 Jan 31, 2019 CAD 55 USD 56 (1) State Street Bank and Trust Company A CAD 1.32327 Jan 31, 2019 CAD 1,482 USD 1,529 (47) State Street Bank and Trust Company A Derivative liabilities (48) Total (37)

The accompanying notes are an integral part of the financial statements.

106 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

Assets Income Current assets Interest for distribution purposes 112,265 84,662 Investments, at fair value 2,914,222 2,261,846 Dividend income 6,469 6,766 Cash 129,491 140,358 Foreign exchange gain (loss) on income 240 (892) Margin deposited on derivatives 9,876 2,840 Foreign exchange gain (loss) on currency 5,295 922 Subscriptions receivable 433 2,635 Other income (loss) - 109 Realized gain (loss) on sales of investments (19,887) 13,327 Receivable from investments sold 10,280 4,931 Realized gain (loss) on derivatives (11,770) 22,563 Interest, dividends and other receivables 32,850 21,614 Change in unrealized appreciation (depreciation) in Derivative assets 31,541 42,844 the value of investments 44,849 (97,458) 3,128,693 2,477,068 Change in unrealized appreciation (depreciation) in Liabilities the value of derivatives (152,057) 69,071 Current liabilities (14,596) 99,070 Redemptions payable 446 82 Expenses Payable on investments purchased 19,495 38,714 Audit fees 5 15 Accrued expenses and other liabilities 157 109 Transfer agent fees 16 18 Derivative liabilities 143,154 2,400 Filing fees 50 11 163,252 41,305 Interest expense & bank charges 24 - Unitholder reporting costs 52 50 Net assets attributable to unitholders 2,965,441 2,435,763 Custodial fees 617 366 Net assets attributable to unitholders per unit Foreign withholding taxes 2,771 2,030 10.54 11.06 Transaction costs 218 597 3,753 3,087 Less operating expenses absorbed by manager - (5) Net operating expenses 3,753 3,082 Increase (decrease) in net assets attributable to unitholders (18,349) 95,988 Increase (decrease) in net assets attributable to unitholders per unit (0.08) 0.51

The accompanying notes are an integral part of the financial statements.

107 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS STATEMENTS OF CASH FLOWS

For the years ended December 31 2018 2017 For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts) ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - Cash flows from operating activities beginning of year 2,435,763 1,901,452 Increase (decrease) in net assets attributable to Increase (decrease) in net assets attributable to unitholders (18,349) 95,988 unitholders (18,349) 95,988 Distribution to unitholders from: Adjustments for: Net investment income (122,214) (82,192) Change in unrealized foreign exchange gain (loss) Net realized gains - (44,053) on currency (1,439) (226) Realized gain (loss) on sales of investments 19,887 (13,327) Total distributions to unitholders (122,214) (126,245) Realized gain (loss) on derivatives 11,770 (22,563) Security transactions Change in unrealized appreciation (depreciation) in Proceeds from units issued 758,980 516,084 the value of investments (44,849) 97,458 Reinvestments of distributions to unitholders 122,214 126,245 Change in unrealized appreciation (depreciation) in Redemption of units (210,953) (77,761) the value of derivatives 152,057 (69,071) Total security transactions 670,241 564,568 Purchases of investments (2,068,686) (1,376,248) Proceeds from disposition of investments 1,404,934 912,014 Net assets attributable to unitholders - end of year 2,965,441 2,435,763 Margin on derivatives (7,036) 3,670 Changes due to unitholder transactions (Note 4) Interest, dividends and other receivables (11,236) (3,960) Units outstanding beginning of year 220,305 170,669 Accrued expenses and other liabilities 48 48 Units issued 68,529 45,061 Net cash provided by (used in) operating Units issued for reinvestment of distributions 11,595 11,418 activities (562,899) (376,217) Units redeemed (19,089) (6,843) Cash flows from financing activities Units outstanding end of year 281,340 220,305 Proceeds from sale of units 761,182 517,792 Payments for units redeemed (210,589) (77,726) Net cash provided by (used in) financing activities 550,593 440,066 Change in unrealized foreign exchange gain (loss) on currency 1,439 226 Net increase (decrease) in cash (12,306) 63,849 Cash (bank overdraft) beginning of year 140,358 76,283 Cash (bank overdraft) end of year 129,491 140,358 Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 100,244 78,664 Dividends received, net of foreign withholding taxes 5,561 5,882 Interest paid 24 -

The accompanying notes are an integral part of the financial statements.

108 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

SCHEDULE OF INVESTMENT PORTFOLIO PAR VALUE ($) (’000)/ As at December 31, 2018 NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) USD 6,284 Arroyo Mortgage Trust 2018-1, 3.76%, Apr 25, 2048 8,156 8,587 BONDS 94.7% USD 3,138 Avaya, Inc., United States 53.6% 7.05%, Dec 15, 2024 4,163 4,150 EUR 3,038 AbbVie, Inc., EUR 5,060 Avery Dennison Corp., 1.38%, May 17, 2024 4,741 4,791 1.25%, Mar 03, 2025 7,760 7,714 USD 227 Adjustable Rate Mortgage Trust 2004-5, USD 650 BAC Capital Trust XIII, 4.48%, Apr 25, 2035 235 314 4.00%, Dec 29, 2049 719 618 USD 8,455 AECOM, USD 7,350 BAC Capital Trust XIV, 5.88%, Oct 15, 2024 11,842 11,418 4.00%, Sep 15, 2049 7,482 7,132 USD 10,860 AECOM, USD 4,705 Ball Corp., 5.13%, Mar 15, 2027 14,224 12,756 4.38%, Dec 15, 2020 6,190 6,466 USD 3,515 Altice US Finance I Corp., USD 5,015 Ball Corp., 5.03%, Jan 15, 2026 4,577 4,561 4.00%, Nov 15, 2023 5,570 6,678 USD 2,000 Amazon.com, Inc., USD 7,425 Ball Corp., 2.60%, Dec 05, 2019 2,592 2,725 5.25%, Jul 01, 2025 9,866 10,141 USD 5,965 Amazon.com, Inc., USD 6,629 Ball Corp., 2.80%, Aug 22, 2024 7,564 7,925 4.88%, Mar 15, 2026 8,671 8,850 USD 4,498 American Airlines, Inc., USD 2,005 BAMLL Commercial Mortgage Securities 4.81%, Oct 10, 2021 5,810 5,985 Trust 2015-200P, USD 6,779 American Airlines, Inc., 3.60%, Apr 14, 2033 2,319 2,594 4.59%, Apr 28, 2023 8,783 8,827 USD 2,715 BAMLL Commercial Mortgage Securities USD 3,540 American Express Credit Account Master Trust 2018-DSNY, Trust, 3.61%, Sep 15, 2034 3,559 3,697 1.77%, Nov 15, 2022 4,713 4,767 USD 347 Banc of America Funding 2005-B Trust, USD 5,800 American Express Credit Account Master 3.10%, Apr 20, 2035 298 473 Trust, USD 210 Banc of America Funding 2006-I Trust, 2.04%, May 15, 2023 7,410 7,802 4.29%, Dec 20, 2036 269 294 USD 6,230 American International Group, Inc., USD 3,300 Banff Merger Sub, Inc., 8.18%, May 15, 2058 7,825 9,721 9.75%, Sep 01, 2026 4,302 4,135 USD 2,255 American Tower Corp., USD 5,480 Bank of America Corp., 4.70%, Mar 15, 2022 2,552 3,166 3.55%, Sep 15, 2026 4,715 6,815 USD 2,885 American Tower Corp., EUR 1,120 Bank of America Corp., FRN 4.00%, Jun 01, 2025 3,656 3,871 0.39%, Apr 25, 2024 1,746 1,700 USD 4,310 Antero Midstream Partners LP / Antero USD 3,770 BankUnited, Inc., Midstream Finance Corp., 4.88%, Nov 17, 2025 4,970 5,257 5.38%, Sep 15, 2024 5,876 5,519 USD 2,710 BBCMS 2018-TALL Mortgage Trust, USD 2,690 Antero Resources Corp., 4.95%, Mar 15, 2037 3,521 3,609 5.63%, Jun 01, 2023 3,696 3,504 USD 726 BCP Renaissance Parent LLC, USD 5,060 Antero Resources Corp., 6.09%, Oct 31, 2024 885 968 5.00%, Mar 01, 2025 6,620 6,289 USD 315 Bear Stearns ALT-A Trust 2004-12, USD 2,925 Anthem, Inc., 3.21%, Jan 25, 2035 330 430 2.75%, Oct 15, 2042 8,512 14,465 USD 72 Bear Stearns ALT-A Trust 2004-13, AUD 3,950 Apple, Inc., 3.25%, Nov 25, 2034 67 98 2.85%, Aug 28, 2019 3,807 3,808 USD 1,369 Bear Stearns ALT-A Trust 2004-7, USD 6,980 Apple, Inc., 4.44%, Aug 25, 2034 1,511 1,922 3.20%, May 13, 2025 8,901 9,384 USD 116 Bear Stearns ALT-A Trust 2004-8, USD 4,860 Apple, Inc., FRN 3.21%, Sep 25, 2034 141 157 3.11%, Feb 09, 2022 6,304 6,637 USD 165 Bear Stearns ARM Trust 2004-10, USD 5,145 Aramark Services, Inc., 4.15%, Jan 25, 2035 143 226 5.13%, Jan 15, 2024 7,031 6,974 USD 2,625 Beazer Homes USA, Inc., USD 3,383 Aramark Services, Inc., 5.88%, Oct 15, 2027 3,251 2,850 4.45%, Mar 28, 2024 4,384 4,486 USD 3,701 Berry Global, Inc., USD 2,868 Aramark Services, Inc., 4.40%, Feb 08, 2020 4,840 4,983 4.53%, Mar 11, 2025 3,742 3,811 USD 6,070 Berry Global, Inc., USD 3,870 Aramark Services, Inc., 4.62%, Oct 01, 2022 7,755 8,120 5.00%, Apr 01, 2025 5,163 5,180 USD 3,840 BHMS 2018-ATLS, 4.01%, Jul 15, 2035 5,069 5,197

The accompanying notes are an integral part of the financial statements.

109 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 6,301 BJ’s Wholesale Club, Inc., USD 4,575 Citibank Credit Card Issuance Trust, 5.62%, Feb 03, 2024 8,248 8,390 1.86%, Aug 08, 2022 5,875 6,149 USD 3,570 Blue Racer Midstream LLC / Blue Racer USD 3,540 Citibank Credit Card Issuance Trust, Finance Corp., 2.49%, Jan 20, 2023 4,350 4,798 6.13%, Nov 15, 2022 4,748 4,730 AUD 3,058 Citigroup, Inc., USD 3,562 BWAY Corp., 3.48%, May 04, 2021 2,931 2,975 5.95%, Apr 03, 2024 4,701 4,591 USD 4,910 Citrix Systems, Inc., USD 1,075 BX Commercial Mortgage Trust 4.50%, Dec 01, 2027 6,274 6,421 2018-BIOA, USD 2,290 CLI Funding LLC, 4.98%, Mar 15, 2037 1,377 1,430 4.03%, Apr 18, 2043 2,930 3,168 USD 4,855 BXP Trust 2017-GM, USD 7,269 Coinstar Funding LLC Series 2017-1, 3.42%, Jun 13, 2039 6,320 6,261 5.22%, Apr 25, 2047 9,780 10,050 USD 1,330 Cablevision Systems Corp., USD 2,035 COMM 2014-PAT Mortgage Trust, 5.88%, Sep 15, 2022 1,782 1,789 5.67%, Aug 13, 2027 2,535 2,795 USD 5,045 Capital One Financial Corp., USD 1,375 COMM 2014-TWC Mortgage Trust, 4.25%, Apr 30, 2025 6,494 6,849 4.77%, Feb 13, 2032 1,537 1,876 USD 8,745 Capital One Multi-Asset Execution Trust, USD 990 COMM 2014-TWC Mortgage Trust, 2.00%, Jan 17, 2023 11,256 11,815 5.77%, Feb 13, 2032 1,255 1,341 USD 225 Catalent Pharma Solutions, Inc., USD 397 Commercial Mortgage Trust 2006-GG7, 5.03%, May 20, 2024 290 300 5.70%, Jul 10, 2038 444 544 USD 5,329 CCO Holdings LLC / CCO Holdings USD 7,675 Concho Resources, Inc., Capital Corp., 4.38%, Jan 15, 2025 10,091 10,367 5.75%, Jan 15, 2024 6,218 7,224 USD 2,245 ConocoPhillips Co., USD 4,290 CCO Holdings LLC / CCO Holdings 4.95%, Mar 15, 2026 3,142 3,284 Capital Corp., USD 4,150 Constellation Brands, Inc., 5.00%, Feb 01, 2028 5,150 5,405 4.25%, May 01, 2023 5,646 5,736 USD 8,660 CCO Holdings LLC / CCO Holdings USD 1,580 Core Industrial Trust 2015-CALW, Capital Corp., Private Placement 3.85%, Feb 10, 2034 1,960 2,121 5.13%, May 01, 2027 11,483 11,046 USD 4,205 Cott Holdings, Inc., USD 3,035 CDK Global, Inc., 5.50%, Apr 01, 2025 5,604 5,434 5.88%, Jun 15, 2026 4,005 4,167 USD 6,285 Crown Americas LLC / Crown Americas USD 4,650 CDW LLC / CDW Finance Corp., Capital Corp. IV, 5.00%, Sep 01, 2025 6,221 6,105 4.50%, Jan 15, 2023 8,110 8,402 USD 6,497 Cengage Learning, Inc., USD 5,702 Crown Cork & Seal Co., Inc., 7.03%, Jun 07, 2023 7,835 7,628 7.38%, Dec 15, 2026 7,728 8,333 USD 4,570 CenturyLink, Inc., USD 3,695 CSC Holdings LLC, 5.54%, Jan 31, 2025 6,036 5,846 5.50%, Apr 15, 2027 4,567 4,706 USD 530 CGDBB Commercial Mortgage Trust USD 7,910 CSC Holdings LLC, 2017-BIOC, 5.38%, Feb 01, 2028 9,854 9,963 4.11%, Jul 15, 2028 666 713 USD 3,815 CSC Holdings LLC, USD 11,391 Charter Communications Operating LLC, 7.50%, Apr 01, 2028 4,987 5,224 4.83%, Apr 30, 2025 14,684 14,965 USD 4,155 CSI Compressco LP / CSI Compressco USD 4,165 Chase Issuance Trust, Finance, Inc., 1.37%, Jun 15, 2021 5,088 5,646 7.50%, Apr 01, 2025 5,492 5,306 USD 571 Chase Mortgage Finance Trust USD 5,660 CVS Health Corp., Series 2007-A1, 4.10%, Mar 25, 2025 7,240 7,664 4.46%, Feb 25, 2037 713 802 USD 4,270 Darling Ingredients, Inc., USD 1,215 Chesapeake Energy Corp., 5.38%, Jan 15, 2022 4,833 5,810 5.50%, Sep 15, 2026 1,461 1,340 USD 5,450 Dawn Acquisition LLC, USD 3,765 Chesapeake Energy Corp., 6.56%, Dec 31, 2025 7,112 7,034 8.00%, Jun 15, 2027 4,839 4,345 USD 3,282 DB Master Finance LLC, USD 1,990 CIT Group, Inc., 3.63%, Nov 20, 2047 4,116 4,337 5.80%, Dec 31, 2049 2,688 2,467 USD 11,396 DB Master Finance LLC 2015-1, USD 3,110 Citibank Credit Card Issuance Trust, 3.98%, Feb 20, 2045 14,337 15,800 1.80%, Sep 20, 2021 3,838 4,214 USD 275 DCP Midstream Operating LP, USD 2,560 Citibank Credit Card Issuance Trust, 3.88%, Mar 15, 2023 352 353 1.92%, Apr 07, 2022 3,368 3,453 USD 7,510 DCP Midstream Operating LP, 5.38%, Jul 15, 2025 9,931 10,052

The accompanying notes are an integral part of the financial statements.

110 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 5,746 Dell International LLC, USD 129 Fannie Mae Interest Strip, 4.78%, Sep 07, 2023 7,616 7,564 5.00%, Jan 25, 2039 27 40 USD 3,315 Diamondback Energy, Inc., USD 827 Fannie Mae Interest Strip, 4.75%, Nov 01, 2024 4,296 4,392 4.00%, Nov 25, 2039 323 233 USD 7,945 Diamondback Energy, Inc., USD 116 Fannie Mae Interest Strip, 5.38%, May 31, 2025 10,386 10,607 4.00%, Jan 25, 2041 29 34 USD 3,210 Discover Card Execution Note Trust, USD 162 Fannie Mae Interest Strip, 1.67%, Jan 18, 2022 4,176 4,356 4.50%, Mar 25, 2041 40 45 USD 3,315 Discover Card Execution Note Trust, USD 163 Fannie Mae Interest Strip, 1.39%, Mar 15, 2022 4,022 4,478 5.00%, Mar 25, 2041 38 51 USD 2,685 Discover Financial Services, USD 5,734 Fifth Third Bancorp, 4.10%, Feb 09, 2027 3,362 3,429 5.10%, Jun 30, 2023 6,678 6,823 USD 1,345 DISH Network Corp., USD 10,630 Financial & Risk US Holdings, Inc., 3.38%, Aug 15, 2026 1,795 1,488 6.56%, Oct 01, 2025 13,811 13,883 USD 5,484 Domino’s Pizza Master Issuer LLC, USD 5,615 First Data Corp., 4.47%, Oct 25, 2045 7,126 7,570 4.81%, Jul 10, 2022 7,357 7,387 USD 3,184 Domino’s Pizza Master Issuer LLC, USD 3,735 First Data Corp., 3.08%, Jul 25, 2047 4,279 4,245 5.38%, Aug 15, 2023 5,078 5,025 USD 5,402 Domino’s Pizza Master Issuer LLC, USD 3,861 FOCUS Brands Funding LLC, 3.74%, Jul 25, 2047 7,260 7,387 5.09%, Apr 30, 2047 5,112 5,352 USD 3,612 Driven Brands Funding LLC, USD 999 Ford Credit Auto Owner Trust 2016-C, 4.74%, Apr 20, 2048 4,540 5,031 1.22%, Mar 15, 2021 1,211 1,352 USD 1,038 DSLA Mortgage Loan Trust 2004-AR1, USD 765 Ford Motor Co., 0.98%, Sep 19, 2044 50 62 6.63%, Oct 01, 2028 1,111 1,057 USD 5,295 E*TRADE Financial Corp., FRN USD 533 Freddie Mac Strips, 5.88%, Dec 31, 2049 6,931 6,527 3.50%, Nov 15, 2027 - 76 EUR 1,040 Ecolab, Inc., USD 926 Freddie Mac Structured Agency Credit 1.00%, Jan 15, 2024 1,622 1,630 Risk Debt Notes, USD 125 Emera US Finance LP, 4.16%, Apr 25, 2024 1,130 1,274 3.55%, Jun 15, 2026 157 162 USD 1,220 Freddie Mac Structured Agency Credit USD 5,372 Energy Transfer Equity LP, Risk Debt Notes, 4.78%, Feb 02, 2024 6,789 7,179 5.81%, Oct 25, 2027 1,752 1,809 USD 6,475 EOG Resources, Inc., USD 1,051 Freddie Mac Structured Agency Credit 2.63%, Mar 15, 2023 8,360 8,504 Risk Debt Notes, EUR 2,255 Equinix, Inc., 4.71%, Oct 25, 2028 1,347 1,445 2.88%, Mar 15, 2024 3,524 3,522 USD 13 Freddie Mac Structured Agency Credit USD 5,470 Equinix, Inc., Risk Debt Notes, 5.88%, Jan 15, 2026 7,292 7,546 3.31%, Mar 25, 2029 17 18 USD 5,255 Equinix, Inc., USD 347 Freddie Mac Structured Agency Credit 5.38%, May 15, 2027 6,904 7,034 Risk Debt Notes, USD 3,860 ESH Hospitality, Inc., 3.31%, Apr 25, 2029 455 473 5.25%, May 01, 2025 5,014 4,916 USD 1,023 Freddie Mac Structured Agency Credit USD 5,970 Expedia, Inc., Risk Debt Notes, 5.00%, Feb 15, 2026 8,160 8,248 3.71%, Jul 25, 2029 1,333 1,404 USD 4,867 Expedia, Inc., USD 4,891 Freddie Mac Structured Agency Credit 3.80%, Feb 15, 2028 5,931 6,039 Risk Debt Notes, USD 1,813 Fannie Mae Connecticut Avenue 3.71%, Oct 25, 2029 6,523 6,719 Securities, USD 1,183 Freddie Mac Structured Agency Credit 3.96%, Jan 25, 2029 2,399 2,486 Risk Debt Notes, USD 6,485 Fannie Mae Connecticut Avenue 3.31%, Dec 25, 2029 1,565 1,616 Securities, USD 2,996 Freddie Mac Structured Agency Credit 6.96%, Jan 25, 2029 8,832 9,672 Risk Debt Notes, USD 4,394 Fannie Mae Connecticut Avenue 3.26%, Mar 25, 2030 3,829 4,081 Securities, USD 3,025 Freddie Mac Structured Agency Credit 3.81%, Apr 25, 2029 5,809 6,025 Risk Debt Notes, USD 2,895 Fannie Mae Connecticut Avenue 3.31%, Dec 25, 2030 3,893 4,129 Securities, 3.46%, Oct 25, 2029 3,936 3,958

The accompanying notes are an integral part of the financial statements.

111 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 2,255 FTS International, Inc., USD 5,120 HCA, Inc., 6.25%, May 01, 2022 2,926 2,756 4.50%, Feb 15, 2027 6,693 6,626 USD 1,830 GAHR Commercial Mortgage Trust USD 700 Hilton Domestic Operating Co., Inc., 2015-NRF, 4.25%, Sep 01, 2024 922 906 3.38%, Dec 15, 2019 2,139 2,454 USD 4,718 Hilton Worldwide Finance LLC, USD 7,020 GCI Liberty, Inc., 4.53%, Oct 25, 2023 6,241 6,237 1.75%, Sep 30, 2046 9,262 9,384 USD 135 Home Equity Asset Trust, USD 3,749 Gentiva Health Services, Inc., 4.01%, Jun 25, 2033 125 186 6.55%, Jul 02, 2025 4,937 4,979 USD 249 Honda Auto Receivables 2016-1 Owner USD 6,510 GGP, Inc., Trust, 4.84%, May 07, 2025 8,331 8,404 1.22%, Dec 18, 2019 345 339 USD 3,160 GLP Capital LP / GLP Financing II, Inc., USD 2,280 Hoya Midco LLC, 5.38%, Apr 15, 2026 4,294 4,279 6.30%, Jun 30, 2024 2,983 2,974 USD 5,836 Grifols Worldwide Operations USA, Inc., USD 1,582 HUB International Ltd., 4.81%, Jan 31, 2025 7,710 7,676 5.78%, Apr 25, 2025 1,990 2,046 USD 815 GS Mortgage Securities Corp Trust USD 2,530 Huntington Bancshares, Inc., FRN 2018-TWR, 5.70%, Dec 31, 2049 3,227 3,073 3.96%, Jul 15, 2031 1,066 1,102 AUD 3,350 Intel Corp., USD 845 GS Mortgage Securities Corp. Trust 4.00%, Dec 01, 2022 3,219 3,354 2018-CHILL, GBP 2,075 International Business Machines Corp., 4.86%, Feb 15, 2037 1,060 1,157 2.75%, Dec 21, 2020 4,118 3,694 USD 124 GSAA Home Equity Trust 2005-11, GBP 1,105 International Business Machines Corp., 2.78%, Oct 25, 2035 124 168 2.63%, Aug 05, 2022 2,149 1,988 USD 1,280 GSAA Home Equity Trust 2005-MTR1, USD 705 IRB Holding Corp., 2.88%, Oct 25, 2035 1,599 1,729 6.03%, Feb 05, 2025 875 920 USD 1,081 GSR Mortgage Loan Trust 2004-5, USD 1,565 J.P. Morgan Chase Commercial Mortgage 4.28%, May 25, 2034 1,071 1,486 Securities Trust, USD 689 HarborView Mortgage Loan Trust 4.22%, Jun 15, 2035 2,044 2,114 2004-5, USD 1,455 JP Morgan Chase Commerical Mortgage 3.87%, Jun 19, 2034 769 943 Securities Corp., USD 304 HarborView Mortgage Loan Trust 4.38%, Jul 05, 2031 1,977 2,049 2004-7, USD 180 JP Morgan Mortgage Trust 2007-A1, 4.60%, Nov 19, 2034 316 424 4.46%, Jul 25, 2035 228 251 USD 618 HarborView Mortgage Loan Trust EUR 1,745 JPMorgan Chase & Co., 2005-2, 2.75%, Aug 24, 2022 2,949 2,939 0.55%, May 19, 2035 32 39 USD 1,333 JPMorgan Chase & Co., USD 324 HarborView Mortgage Loan Trust 6.10%, Dec 31, 2049 1,794 1,812 2005-9, USD 7,506 KFC Holding Co., 2.82%, Jun 20, 2035 310 437 4.55%, Apr 03, 2025 9,717 10,028 USD 1,001 HarborView Mortgage Loan Trust USD 5,453 KFC Holding Co. / Pizza Hut Holdings LLC 2005-9, / Taco Bell of America LLC, 2.93%, Jun 20, 2035 1,012 1,371 5.00%, Jun 01, 2024 7,314 7,206 USD 3,095 HC2 Holdings, Inc., USD 5,658 KFC Holding Co. / Pizza Hut Holdings LLC 11.50%, Dec 01, 2021 4,044 3,961 / Taco Bell of America LLC, USD 3,894 HCA Healthcare, Inc., 5.25%, Jun 01, 2026 7,370 7,496 6.25%, Feb 15, 2021 4,309 5,451 USD 4,115 Kraft Heinz Foods Co., USD 3,995 HCA, Inc., 4.88%, Feb 15, 2025 5,477 5,649 7.50%, Feb 15, 2022 5,099 5,811 USD 461 Lamar Media Corp., USD 3,548 HCA, Inc., 5.00%, May 01, 2023 559 630 4.08%, Mar 18, 2023 4,644 4,750 USD 1,694 LIN Television Corp., USD 5,060 HCA, Inc., 5.88%, Nov 15, 2022 1,927 2,314 5.00%, Mar 15, 2024 5,619 6,859 USD 2,082 Lions Gate Capital Holdings LLC, USD 875 HCA, Inc., 5.88%, Nov 01, 2024 2,803 2,822 5.38%, Feb 01, 2025 1,142 1,168 USD 1,077 Lions Gate Capital Holdings LLC, USD 4,335 HCA, Inc., 5.08%, Mar 24, 2025 1,409 1,420 5.25%, Apr 15, 2025 5,932 5,906 USD 1,090 Live Nation Entertainment, Inc., 5.63%, Mar 15, 2026 1,423 1,459

The accompanying notes are an integral part of the financial statements.

112 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 4,200 M&T Bank Corp., USD 3,860 Navient Private Education Refi Loan Trust 5.13%, Dec 31, 2049 5,665 5,442 2018-A, USD 7,185 Marathon Petroleum Corp., 3.19%, Feb 18, 2042 4,895 5,201 5.13%, Dec 15, 2026 9,962 10,068 GBP 1,495 Nestlé Holdings, Inc., USD 5,140 Marriott Ownership Resorts, Inc., 1.75%, Dec 09, 2020 3,084 2,624 4.99%, Aug 29, 2025 6,748 6,880 EUR 3,840 Netflix, Inc., USD 977 McGraw-Hill Global Education 3.63%, May 15, 2027 5,971 5,824 Holdings LLC, USD 5,895 Netflix, Inc., 6.81%, May 04, 2022 1,310 1,211 5.88%, Nov 15, 2028 7,605 7,844 USD 3,935 Meredith Corp., USD 4,565 Netflix, Inc., 5.53%, Jan 31, 2025 5,184 5,235 6.38%, May 15, 2029 5,989 6,165 USD 440 Meredith Corp., USD 627 New Century Home Equity Loan Trust 6.88%, Feb 01, 2026 559 589 2005-2, USD 1,813 Merrill Lynch Mortgage Investors Trust 3.19%, Jun 25, 2035 710 858 Series 2005-A8, USD 1,629 New Residential Mortgage Loan Trust 2.78%, Aug 25, 2036 2,304 2,448 2017-5, USD 108 Merrill Lynch Mortgage Investors Trust 4.01%, Jun 25, 2057 2,071 2,272 Series MLCC 2004-1, USD 3,022 New Residential Mortgage Loan Trust 4.16%, Dec 25, 2034 112 147 2018-4, USD 141 Merrill Lynch Mortgage Investors Trust 3.26%, Jan 25, 2048 3,945 4,116 Series MLCC 2006-3, USD 8,175 Newfield Exploration Co., 4.35%, Oct 25, 2036 133 190 5.63%, Jul 01, 2024 11,264 11,333 USD 276 Merrill Lynch Mortgage Investors Trust USD 3,920 Newfield Exploration Co., Series MLMI 2005-A2, 5.38%, Jan 01, 2026 5,266 5,260 3.68%, Feb 25, 2035 302 392 USD 3,100 Nexstar Escrow Corp., USD 3,725 Metro-Goldwyn-Mayer, Inc., 5.63%, Aug 01, 2024 4,092 3,969 7.30%, Jul 06, 2026 4,851 4,782 USD 1,912 NextEra Energy Operating Partners LP, USD 3,120 Microchip Technology, Inc., 4.25%, Sep 15, 2024 2,378 2,425 4.74%, May 29, 2025 4,073 4,050 USD 2,222 NextEra Energy Operating Partners LP, USD 5,886 Micron Technology, Inc., 4.50%, Sep 15, 2027 2,762 2,712 4.53%, Apr 26, 2022 7,716 7,916 USD 6,935 Nissan Auto Receivables 2015-B Owner USD 2,240 Microsoft Corp., Trust, 2.40%, Feb 06, 2022 2,975 3,025 1.79%, Jan 17, 2022 8,825 9,400 EUR 2,395 Molson Coors Brewing Co., USD 5,710 NRG Energy, Inc., 1.25%, Jul 15, 2024 3,612 3,690 6.63%, Jan 15, 2027 7,599 7,886 USD 2,345 Morgan Stanley Capital I Trust USD 5,620 NRG Energy, Inc., 2014-150E, Class D 2.75%, Jun 01, 2048 7,203 8,285 4.30%, Sep 09, 2032 3,149 3,222 USD 4,195 Oasis Petroleum, Inc., USD 1,620 Morgan Stanley Capital I Trust 2.63%, Sep 15, 2023 6,759 5,051 2014-150E, Class F USD 6,415 Occidental Petroleum Corp., 4.30%, Sep 09, 2032 1,634 2,119 3.50%, Jun 15, 2025 8,230 8,677 USD 1,995 Morgan Stanley Capital I Trust 2017-CLS, USD 3,005 Olympic Tower 2017-OT Mortgage Trust, 4.46%, Nov 15, 2034 2,546 2,685 3.57%, May 10, 2039 4,060 4,066 USD 113 Morgan Stanley Mortgage Loan Trust USD 1,160 Olympic Tower 2017-OT Mortgage Trust, 2004-8AR, 3.95%, May 10, 2039 1,589 1,469 4.37%, Oct 25, 2034 106 157 USD 364 Opteum Mortgage Acceptance Corp. USD 409 Motorola Solutions, Inc., Trust 2005-4, 4.60%, Feb 23, 2028 518 547 2.82%, Nov 25, 2035 363 493 USD 7,450 Murphy Oil Corp., USD 4,470 Parsley Energy LLC / Parsley Finance 6.88%, Aug 15, 2024 10,133 10,146 Corp., USD 2,439 MVW Owner Trust 2018-1, 5.38%, Jan 15, 2025 5,881 5,647 3.45%, Jan 21, 2036 3,236 3,365 USD 4,907 Post Holdings, Inc., USD 1,676 Nationstar Home Equity Loan Trust 4.78%, May 24, 2024 6,452 6,476 2006-B, USD 7,110 Post Holdings, Inc., 2.79%, Sep 25, 2036 1,986 2,284 5.00%, Aug 15, 2026 9,174 8,885 USD 5,680 Post Holdings, Inc., 5.75%, Mar 01, 2027 7,446 7,312

The accompanying notes are an integral part of the financial statements.

113 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 3,410 Post Holdings, Inc., USD 177 Structured Asset Securities Corp., 5.63%, Jan 15, 2028 4,291 4,302 4.37%, Dec 25, 2033 173 239 USD 2,428 Project Deep Blue Holdings LLC, USD 1,975 SunTrust Preferred Capital I, 5.87%, Feb 12, 2025 3,055 3,171 4.00%, Dec 31, 2049 1,627 1,941 USD 4,505 Quad/Graphics, Inc., USD 3,275 Synovus Financial Corp., 7.71%, Jun 30, 2026 5,875 6,014 3.13%, Nov 01, 2022 4,176 4,227 USD 4,087 Rackspace Hosting, Inc., USD 6,330 Synovus Financial Corp., 5.83%, Nov 03, 2023 5,226 4,952 5.75%, Dec 15, 2025 8,486 8,754 USD 5,419 Realogy Group LLC, USD 6,604 Taco Bell Funding LLC, 4.87%, Feb 08, 2025 6,961 7,031 4.97%, May 25, 2046 8,546 9,282 USD 2,320 Redwood Trust, Inc., USD 2,895 Targa Resources Partners LP / Targa 5.63%, Jul 15, 2024 3,071 2,982 Resources Partners Finance Corp., USD 5,225 Refinitiv US Holdings, Inc., 5.88%, Apr 15, 2026 3,816 3,865 8.25%, Nov 15, 2026 6,829 6,539 USD 6,895 The ADT Corp., USD 2,240 Regions Bank, 3.50%, Jul 15, 2022 8,734 8,746 6.45%, Jun 26, 2037 3,200 3,588 USD 2,670 The Edelman Financial Center LLC, USD 935 Regions Financial Corp., 6.03%, Jul 19, 2025 3,536 3,524 7.38%, Dec 10, 2037 1,332 1,614 EUR 4,594 The Goldman Sachs Group, Inc., USD 11,780 SBA Communications Corp., 1.38%, May 15, 2024 7,212 7,133 4.88%, Sep 01, 2024 15,200 15,184 USD 8,965 The Goldman Sachs Group, Inc., FRN USD 5,998 SBA Senior Finance II LLC, 3.43%, Feb 23, 2023 11,148 11,840 4.79%, Apr 11, 2025 7,608 7,877 USD 428 The PNC Financial Services Group, Inc., USD 3,998 SBA Tower Trust, 4.85%, Dec 31, 2049 520 536 3.45%, Mar 15, 2023 5,127 5,432 USD 2,831 The ServiceMaster Co. LLC, USD 5,995 Sealed Air Corp., 5.12%, Nov 08, 2023 3,725 3,797 6.50%, Dec 01, 2020 7,578 8,495 USD 2,565 The Williams Cos., Inc., USD 2,265 Sealed Air Corp., 3.70%, Jan 15, 2023 3,366 3,422 4.88%, Dec 01, 2022 2,577 3,074 USD 6,465 The Williams Cos., Inc., USD 3,860 Sealed Air Corp., 4.55%, Jun 24, 2024 8,779 8,926 5.13%, Dec 01, 2024 4,780 5,199 EUR 830 Thermo Fisher Scientific, Inc., USD 6,660 Sealed Air Corp., 0.75%, Sep 12, 2024 1,247 1,260 5.50%, Sep 15, 2025 9,160 9,005 EUR 1,265 Thermo Fisher Scientific, Inc., USD 990 Service Corp. International, 1.40%, Jan 23, 2026 1,953 1,947 4.63%, Dec 15, 2027 1,256 1,276 USD 2,607 Towd Point Mortgage Trust 2017-3, USD 1,455 SFAVE Commercial Mortgage Securities 2.75%, Jun 25, 2057 3,360 3,483 Trust 2015-5AVE, USD 2,503 Towd Point Mortgage Trust 2018-3, 4.39%, Jan 05, 2035 1,712 1,605 3.75%, May 25, 2058 3,340 3,425 USD 2,455 Sinclair Television Group, Inc., USD 5,656 Towd Point Mortgage Trust 2018-4, 5.63%, Aug 01, 2024 3,176 3,152 3.00%, Jun 25, 2058 7,141 7,547 USD 3,980 Sirius XM Radio, Inc., USD 2,922 Towd Point Mortgage Trust 2018-5, 5.38%, Jul 15, 2026 5,272 5,103 3.25%, Jul 25, 2058 3,724 3,953 USD 4,050 Sirius XM Radio, Inc., USD 5,165 Transcontinental Gas Pipe Line Co. LLC, 5.00%, Aug 01, 2027 5,273 5,075 7.85%, Feb 01, 2026 8,587 8,540 USD 5,447 Sprint Communications, Inc., USD 5,204 TransDigm, Inc., 5.10%, Feb 02, 2024 7,102 7,099 5.24%, Jun 09, 2023 6,843 6,725 USD 2,156 SS&C Technologies, Inc., USD 2,545 Tribune Media Co., 5.03%, Apr 16, 2025 2,764 2,787 5.88%, Jul 15, 2022 3,411 3,511 USD 4,239 SS&C Technologies, Inc., USD 1,090 Trimble, Inc., 5.06%, Apr 16, 2025 5,577 5,482 4.90%, Jun 15, 2028 1,429 1,469 USD 1,628 St Jude Medical, Inc., USD 2,720 Triton Container Finance V LLC, 4.75%, Apr 15, 2043 2,285 2,019 3.95%, Mar 20, 2043 3,515 3,736 USD 3,740 Stifel Financial Corp., USD 3,220 Tyson Foods, Inc., 3.50%, Dec 01, 2020 4,977 5,110 3.95%, Aug 15, 2024 4,531 4,378 USD 3,295 Stifel Financial Corp., USD 4,945 U.S. Bancorp, 4.25%, Jul 18, 2024 4,384 4,557 5.13%, Dec 31, 2049 6,814 6,695 USD 693 Structured Asset Investment Loan Trust USD 2,914 Uber Technologies, Inc., 2005-1, 6.81%, Apr 04, 2025 3,779 3,888 3.23%, Feb 25, 2035 735 951

The accompanying notes are an integral part of the financial statements.

114 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 5,069 United Airlines, Inc., USD 4,896 Wendys Funding LLC 2015-1, 4.40%, Apr 01, 2024 6,521 6,664 4.08%, Jun 15, 2045 5,995 6,698 USD 4,395 United Rentals North America, Inc., USD 1,604 Wendys Funding LLC 2018-1, 4.63%, Jul 15, 2023 5,827 5,913 3.57%, Mar 15, 2048 2,047 2,102 USD 6,350 United Rentals North America, Inc., USD 3,441 West Corp., 5.50%, May 15, 2027 8,361 8,066 6.80%, Oct 10, 2024 4,366 4,329 USD 6,185 United Rentals North America, Inc., USD 2,925 Western Digital Corp., 4.88%, Jan 15, 2028 7,609 7,434 4.75%, Feb 15, 2026 3,762 3,481 EUR 1,900 US Bancorp, USD 6,795 Williams Partners LP, 0.85%, Jun 07, 2024 2,903 2,955 3.75%, Jun 15, 2027 8,930 8,810 USD 4,406 US Foods, Inc., USD 2,595 Willis Engine Structured Trust IV, 4.83%, Jun 27, 2023 5,790 5,788 4.75%, Sep 15, 2043 3,411 3,642 USD 13,006 USB Capital IX, USD 5,985 WMG Acquisition Corp., 3.81%, Dec 31, 2049 14,441 13,167 4.90%, Nov 01, 2023 7,738 7,899 USD 2,474 USI, Inc., USD 290 WPX Energy, Inc., 5.74%, May 16, 2024 3,115 3,197 6.00%, Jan 15, 2022 386 387 USD 1,076 Vantage Data Centers Issuer LLC, USD 3,580 WPX Energy, Inc., 4.07%, Feb 16, 2043 1,357 1,474 5.75%, Jun 01, 2026 4,612 4,450 USD 5,750 Vantiv LLC, USD 1,307 Wyndham Destinations, Inc., 4.58%, Aug 20, 2024 7,656 7,555 4.99%, May 31, 2025 1,681 1,742 AUD 2,510 Verizon Communications, Inc., USD 5,581 Wyndham Hotels & Resorts, Inc., 3.50%, Feb 17, 2023 2,507 2,444 4.49%, May 30, 2025 7,256 7,356 USD 680 Verizon Owner Trust 2016-1, USD 2,217 Zebra Technologies Corp., 1.42%, Jan 20, 2021 832 926 4.49%, Oct 27, 2021 2,888 3,004 USD 2,400 VNO Mortgage Trust, USD 2,325 Zions Bancorporation, 3.91%, Jan 10, 2035 3,066 3,160 5.80%, Dec 31, 2049 2,401 3,072 USD 18,714 Wachovia Capital Trust III, 1,544,240 1,588,175 5.57%, Dec 31, 2049 22,248 23,151 USD 497 WaMu Mortgage Pass-Through Canada 5.7% Certificates Series 2004-AR14, USD 7,728 1011778 B.C. ULC, 4.32%, Jan 25, 2035 550 694 4.90%, Feb 17, 2024 10,079 10,076 USD 431 WaMu Mortgage Pass-Through USD 6,080 1011778 B.C. ULC / New Red Finance, Certificates Series 2005-AR2 Trust, Inc., 2.88%, Jan 25, 2045 397 587 4.63%, Jan 15, 2022 7,619 8,055 USD 290 WaMu Mortgage Pass-Through USD 5,105 1011778 B.C. ULC / New Red Finance, Certificates Series 2005-AR2 Trust, Inc., 2.89%, Jan 25, 2045 271 396 4.25%, May 15, 2024 6,862 6,432 USD 851 WaMu Mortgage Pass-Through USD 5,520 1011778 B.C. ULC / New Red Finance, Certificates Series 2005-AR6 Trust, Inc., 2.97%, Apr 25, 2045 875 1,165 5.00%, Oct 15, 2025 6,957 6,955 USD 738 WaMu Mortgage Pass-Through AUD 4,820 Bank of Montreal, Certificates Series 2005-AR8 Trust, 3.25%, Oct 06, 2022 4,676 4,685 3.23%, Jul 25, 2045 806 1,007 3,785 Canada Housing Trust No. 1, USD 313 WaMu Mortgage Pass-Through 2.35%, Jun 15, 2023 3,748 3,797 Certificates Series 2005-AR8 Trust, 29,635 Canadian Government Bond, 3.35%, Jul 25, 2045 295 429 1.25%, Nov 01, 2019 29,480 29,502 USD 4,510 Wand Merger Corp., 13,775 Canadian Government Bond, 8.13%, Jul 15, 2023 6,020 6,021 1.50%, Mar 01, 2020 13,719 13,724 AUD 2,115 Wells Fargo & Co., 7,200 Canadian Government Bond, 3.24%, Jul 27, 2021 2,063 2,048 0.75%, Sep 01, 2020 7,003 7,071 USD 106 Wells Fargo Mortgage Backed Securities USD 565 DHX Media Ltd., 2004-Z Trust, 6.56%, Dec 22, 2023 743 750 USD 9,935 Emera, Inc., 4.98%, Dec 25, 2034 103 148 USD 548 Wells Fargo Mortgage Backed Securities 6.75%, Jun 15, 2076 13,952 13,663 USD 5,513 Enbridge, Inc., 2005-AR10 Trust, 3.50%, Jun 10, 2024 6,998 7,340 4.53%, Jun 25, 2035 624 790 USD 6,299 Enbridge, Inc., FRN 6.00%, Jan 15, 2077 8,138 7,768

The accompanying notes are an integral part of the financial statements.

115 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) NZD 2,850 Export Development Canada, USD 2,020 Pertamina Persero PT, 4.88%, Jan 24, 2019 2,587 2,615 4.30%, May 20, 2023 2,792 2,724 AUD 4,665 Export Development Canada, USD 3,415 Perusahaan Listrik Negara PT, 2.40%, Jun 07, 2021 4,555 4,505 5.45%, May 21, 2028 4,384 4,732 GBP 4,170 Export Development Canada, 120,757 116,405 0.88%, Dec 07, 2021 6,870 7,199 1,115 Ford Auto Securitization Trust, Mexico 3.1% 2.71%, Sep 15, 2023 1,115 1,109 MXN 52,950 America Movil SAB de CV, USD 5,665 MDC Partners, Inc., 7.13%, Dec 09, 2024 4,349 3,211 6.50%, May 01, 2024 7,046 7,080 USD 2,785 Banco Nacional de Comercio Exterior GBP 5,830 Province of Alberta, SNC, 1.00%, Nov 15, 2021 9,672 10,046 4.38%, Oct 14, 2025 3,630 3,642 2,450 Province of Alberta, USD 10,522 Mexico City Airport Trust, 3.40%, Dec 01, 2023 2,544 2,549 4.25%, Oct 31, 2026 13,670 12,880 EUR 6,275 Province of Alberta, USD 11,850 Mexico City Airport Trust, 0.63%, Apr 18, 2025 9,737 9,915 3.88%, Apr 30, 2028 14,385 14,299 INR 101,400 Province of British Columbia, USD 6,585 Mexico City Airport Trust, 6.60%, Jan 09, 2020 2,055 1,967 5.50%, Oct 31, 2046 8,194 7,960 3,170 Province of Quebec, USD 20,700 Mexico City Airport Trust, 3.00%, Sep 01, 2023 3,220 3,248 5.50%, Jul 31, 2047 25,109 24,986 USD 4,405 Mexico Government International Bond, 169,375 170,051 4.60%, Jan 23, 2046 5,532 5,350 Indonesia 3.9% USD 3,095 Petroleos Mexicanos, USD 1,650 Indonesia Government International 6.00%, Mar 05, 2020 3,898 4,309 Bond, MXN 50,552 Petroleos Mexicanos, 5.88%, Jan 15, 2024 2,298 2,406 7.65%, Nov 24, 2021 4,076 3,217 EUR 1,985 Indonesia Government International USD 6,015 Petroleos Mexicanos, Bond, 4.63%, Sep 21, 2023 7,879 7,731 2.15%, Jul 18, 2024 2,923 3,140 MXN 40,480 Petroleos Mexicanos, IDR 84,724,000 Indonesia Treasury Bond, 7.19%, Sep 12, 2024 2,342 2,197 8.25%, Jul 15, 2021 8,306 8,158 USD 2,290 Trust F/1401, IDR 174,635,000 Indonesia Treasury Bond, 5.25%, Dec 15, 2024 2,536 3,014 7.00%, May 15, 2022 16,557 16,187 95,600 92,796 IDR 36,488,000 Indonesia Treasury Bond, 5.63%, May 15, 2023 3,260 3,184 Australia 2.4% IDR 47,720,000 Indonesia Treasury Bond, EUR 2,841 Australia & New Zealand Banking Group 8.38%, Mar 15, 2024 4,975 4,605 Ltd., IDR 177,537,000 Indonesia Treasury Bond, 0.63%, Feb 21, 2023 4,421 4,427 8.38%, Sep 15, 2026 17,478 17,229 AUD 6,020 Australia Government Bond, IDR 128,105,000 Indonesia Treasury Bond, 5.75%, Jul 15, 2022 6,747 6,562 7.00%, May 15, 2027 12,586 11,389 AUD 5,080 FBG Finance Pty Ltd., IDR 192,529,000 Indonesia Treasury Bond, 3.25%, Sep 06, 2022 5,026 4,871 6.13%, May 15, 2028 16,701 16,138 AUD 4,900 New South Wales Treasury Corp., IDR 21,691,000 Indonesia Treasury Bond, 6.00%, Mar 01, 2022 5,627 5,277 9.00%, Mar 15, 2029 2,401 2,178 AUD 2,215 Queensland Treasury Corp., IDR 68,966,000 Indonesia Treasury Bond, 6.25%, Feb 21, 2020 2,197 2,228 8.75%, May 15, 2031 7,187 6,843 AUD 15,090 Queensland Treasury Corp., IDR 31,607,000 Indonesia Treasury Bond, 6.00%, Jul 21, 2022 16,632 16,408 7.50%, Aug 15, 2032 3,201 2,818 USD 2,345 Sydney Airport Finance Co. Pty Ltd., IDR 76,220,000 Indonesia Treasury Bond, 3.63%, Apr 28, 2026 2,979 3,068 6.63%, May 15, 2033 6,807 6,324 AUD 3,420 Telstra Corp., Ltd., IDR 65,079,000 Indonesia Treasury Bond, 7.75%, Jul 15, 2020 3,761 3,538 7.50%, May 15, 2038 6,286 5,691 AUD 2,420 Telstra Corp., Ltd., USD 2,060 Pelabuhan Indonesia II PT, 2.90%, Apr 19, 2021 2,447 2,334 4.25%, May 05, 2025 2,615 2,659 AUD 4,690 Treasury Corp. of Victoria, 2.25%, Oct 29, 2021 4,333 4,529 AUD 7,845 Western Australia Treasury Corp., 2.75%, Oct 20, 2022 7,683 7,684

The accompanying notes are an integral part of the financial statements.

116 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) AUD 5,480 Western Australian Treasury Corp., NZD 5,475 International Bank for Reconstruction & 2.50%, Jul 23, 2024 5,246 5,281 Development, GBP 490 Westpac Banking Corp., 4.63%, Oct 06, 2021 5,056 5,327 5.00%, Oct 21, 2019 1,055 877 NZD 3,675 International Bank for Reconstruction & AUD 4,200 Westpac Banking Corp., Development, 7.25%, Feb 11, 2020 4,930 4,248 3.38%, Jan 25, 2022 3,325 3,470 73,084 71,332 NZD 2,775 International Finance Corporation, 3.63%, May 20, 2020 2,532 2,593 Ireland 2.3% NOK 23,050 Nordic Investment Bank, USD 2,455 Bank of Ireland Group PLC, 1.38%, Jul 15, 2020 3,592 3,640 4.50%, Nov 25, 2023 3,185 3,288 NZD 4,405 Nordic Investment Bank, EUR 19,425 Ireland Government Bond, 4.13%, Sep 19, 2020 4,291 4,129 3.90%, Mar 20, 2023 35,280 35,397 AUD 5,425 Nordic Investment Bank, EUR 16,451 Ireland Government Bond, 5.00%, Apr 19, 2022 5,796 5,659 3.40%, Mar 18, 2024 29,760 30,016 58,479 57,729 68,225 68,701 Norway 1.8% Brazil 2.3% USD 4,050 Aker BP ASA, BRL 68,755 Brazil Notas do Tesouro Nacional, 5.88%, Mar 31, 2025 5,375 5,545 Series F NOK 119,420 Norway Government Bond, 10.00%, Jan 01, 2021 26,018 25,343 4.50%, May 22, 2019 21,635 19,100 BRL 94,710 Brazil Notas do Tesouro Nacional, NOK 107,550 Norway Government Bond, Series F 3.75%, May 25, 2021 18,897 18,011 10.00%, Jan 01, 2023 37,231 34,967 NOK 58,690 Norway Government Bond, USD 5,390 Natura Cosmeticos SA, 2.00%, May 24, 2023 9,529 9,506 5.38%, Feb 01, 2023 6,650 7,389 55,436 52,162 69,899 67,699 Luxembourg 1.7% Supranational 1.9% EUR 1,625 Allergan Funding SCS, NZD 2,785 Asian Development Bank, 1.25%, Jun 01, 2024 2,449 2,483 4.63%, Mar 06, 2019 2,538 2,562 EUR 6,810 European Financial Stability Facility, AUD 2,065 Asian Development Bank, 0.50%, Jan 20, 2023 10,613 10,890 5.00%, Mar 09, 2022 2,187 2,150 EUR 5,065 European Financial Stability Facility, IDR 27,640,000 European Bank for Reconstruction & 1.88%, May 23, 2023 8,336 8,567 Development, EUR 5,850 European Financial Stability Facility, 7.38%, Apr 15, 2019 2,530 2,615 0.13%, Oct 17, 2023 8,879 9,163 NOK 24,600 European Investment Bank, USD 822 SS&C Technologies Holdings Europe Sarl, 1.50%, May 12, 2022 3,970 3,895 5.03%, Apr 16, 2025 1,054 1,063 AUD 2,935 Inter-American Development Bank, BRL 49,080 Swiss Insured Brazil Power Finance Sarl, 6.50%, Aug 20, 2019 3,394 2,898 9.85%, Jul 16, 2032 17,463 17,371 NZD 3,290 Inter-American Development Bank, 48,794 49,537 3.50%, May 15, 2021 2,967 3,100 INR 149,900 International Bank for Reconstruction & Philippines 1.6% Development, PHP 255,000 Philippine Government Bond, 5.75%, Oct 28, 2019 3,209 2,885 5.88%, Dec 16, 2020 6,247 6,495 AUD 4,125 International Bank for Reconstruction & PHP 194,300 Philippine Government Bond, Development, 7.38%, Mar 03, 2021 5,577 5,100 2.50%, Mar 12, 2020 4,066 3,980 PHP 354,440 Philippine Government Bond, NOK 8,280 International Bank for Reconstruction & 3.50%, Mar 20, 2021 9,172 8,570 Development, PHP 129,940 Philippine Government Bond, 3.63%, Jun 22, 2020 1,505 1,349 4.00%, Jan 26, 2022 3,141 3,109 AUD 2,540 International Bank for Reconstruction & PHP 386,130 Philippine Government Bond, Development, 3.50%, Apr 21, 2023 9,121 8,752 2.80%, Jan 13, 2021 2,549 2,470 PHP 318,625 Philippine Government Bond, NZD 5,330 International Bank for Reconstruction & 8.00%, Jul 19, 2031 9,759 8,945 Development, PHP 20,321 Philippine Government Bond, 3.50%, Jan 22, 2021 4,972 5,007 4.63%, Sep 09, 2040 559 370

The accompanying notes are an integral part of the financial statements.

117 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) PHP 163,125 Philippine Government International New Zealand 1.5% Bond, NZD 13,335 New Zealand Government Bond, 4.95%, Jan 15, 2021 4,126 4,188 3.00%, Apr 15, 2020 11,927 12,410 PHP 125,000 Philippine Government International NZD 17,475 New Zealand Government Bond, Bond, 6.00%,May 15, 2021 18,133 17,592 6.25%, Jan 14, 2036 2,946 3,207 NZD 7,700 New Zealand Local Government Funding Agency Bond, 50,648 48,736 2.75%,Apr 15, 2025 6,462 7,025 Germany 1.6% NZD 1,668 New Zealand Local Government Funding NZD 5,835 KFW, Agency Ltd., 3.75%, May 29, 2020 5,213 5,459 2.75%, Apr 14, 2022 1,557 1,549 NZD 3,655 KFW, NZD 4,740 New Zealand Local Government Funding 3.38%, Feb 15, 2021 3,356 3,424 Agency Ltd., EUR 2,660 Kreditanstalt fuer Wiederaufbau, 5.50%, Apr 15, 2023 4,715 4,877 0.38%, Mar 15, 2023 4,118 4,240 EUR 7,845 Kreditanstalt fuer Wiederaufbau, 42,794 43,453 2.13%, Aug 15, 2023 13,235 13,498 Singapore 1.4% EUR 1,295 Kreditanstalt fuer Wiederaufbau, USD 2,665 BOC Aviation Ltd., zero coupon, Sep 15, 2023 1,960 2,027 2.75%, Sep 18, 2022 3,217 3,505 AUD 6,440 Landwirtschaftliche Rentenbank, SGD 16,095 Singapore Government Bond, 2.70%, Sep 05, 2022 6,118 6,264 2.50%, Jun 01, 2019 15,262 16,169 NZD 3,545 Landwirtschaftliche Rentenbank, SGD 21,840 Singapore Government Bond, 3.00%, Feb 13, 2023 3,196 3,305 3.25%, Sep 01, 2020 20,827 22,376 NZD 7,500 Landwirtschaftliche Rentenbank, 39,306 42,050 5.38%, Apr 23, 2024 7,533 7,764 Netherlands 1.4% 44,729 45,981 EUR 2,625 Bank Nederlandse Gemeenten NV, Malaysia 1.5% 0.25%, Feb 22, 2023 4,024 4,154 MYR 20,418 Malaysia Government Bond, EUR 2,595 Bank Nederlandse Gemeenten NV, 4.16%, Jul 15, 2021 6,632 6,837 0.25%, Jun 07, 2024 3,949 4,071 MYR 6,630 Malaysia Government Bond, EUR 4,900 Bayer Capital Corp. BV, 3.62%, Nov 30, 2021 2,138 2,190 5.63%, Nov 22, 2019 7,307 5,866 MYR 53,995 Malaysia Government Bond, USD 2,910 Cimpress NV, 4.06%, Sep 30, 2024 16,471 17,941 7.00%, Jun 15, 2026 3,770 3,835 MYR 9,080 Malaysia Government Bond, EUR 2,200 Darling Global Finance BV, 3.88%, Mar 14, 2025 3,021 2,980 3.63%, May 15, 2026 3,385 3,411 MYR 10,778 Malaysia Government Bond, USD 2,395 Greenko Dutch BV, 3.90%, Nov 16, 2027 3,514 3,486 5.25%, Jul 24, 2024 3,028 2,944 MYR 6,355 Malaysia Government Bond, USD 5,345 NXP BV / NXP Funding LLC, 3.73%, Jun 15, 2028 2,036 2,041 4.63%, Jun 01, 2023 7,484 7,172 MYR 33,088 Malaysia Government Bond, EUR 2,650 Teva Pharmaceutical Finance Netherlands 3.84%, Apr 15, 2033 9,800 10,225 II BV, 43,612 45,700 4.50%, Mar 01, 2025 4,283 4,199 USD 4,860 UPC Holding BV, Colombia 1.5% 5.50%, Jan 15, 2028 6,065 5,974 USD 3,025 Colombia Government International Bond, 43,295 41,626 4.00%, Feb 26, 2024 3,896 4,095 Hungary 1.1% USD 5,620 Colombia Government International USD 10,315 Hungary Government International Bond, Bond, 6.25%, Jan 29, 2020 13,846 14,506 4.50%, Jan 28, 2026 7,552 7,690 USD 12,146 Hungary Government International Bond, COP 20,934,600 Colombian TES, 6.38%, Mar 29, 2021 16,819 17,533 7.00%, Sep 11, 2019 8,988 8,948 30,665 32,039 COP 19,054,600 Colombian TES, 11.00%, Jul 24, 2020 8,820 8,731 Great Britain 0.9% COP 32,272,000 Colombian TES, USD 6,235 HSBC Holdings PLC, 7.00%, May 04, 2022 15,120 14,179 6.00%, Dec 31, 2049 8,223 7,689 USD 3,455 International Game Technology PLC, 44,376 43,643 6.50%, Feb 15, 2025 4,745 4,672

The accompanying notes are an integral part of the financial statements.

118 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) GBP 165 Southern Gas Networks PLC, France 0.2% 4.88%, Dec 21, 2020 337 305 EUR 2,217 Altran Technologies SA, USD 2,891 Travelport Corporate Finance PLC, 2.75%, Mar 20, 2025 3,408 3,422 6.00%, Mar 15, 2026 3,721 3,998 EUR 791 Crown European Holdings SA, GBP 1,585 United Kingdom Gilt, 2.38%, Apr 03, 2025 1,204 1,234 3.75%, Sep 07, 2020 2,903 2,894 4,612 4,656 USD 6,235 Vedanta Resources PLC, 6.38%, Jul 30, 2022 8,240 7,645 Marshall Islands 0.1% USD 2,865 Teekay Offshore Partner LP/Teekay 28,169 27,203 Offshore Finance Corp., Sweden 0.5% 8.50%, Jul 15, 2023 3,814 3,835 EUR 9,870 Sweden Government International Bond, 2,772,246 2,808,409 0.13%, Apr 24, 2023 14,994 15,576 EQUITIES 3.6% Portugal 0.5% United States 3.6% USD 5,590 Portugal Government International Bond, 163,260 Becton Dickinson and Co., Preferred 5.13%, Oct 15, 2024 7,539 8,011 6.13%, Series A 11,721 12,859 EUR 4,385 Portugal Obrigacoes do Tesouro OT, 5,030 Crown Castle International Corp., 3.85%, Apr 15, 2021 7,457 7,483 Preferred 6.88%, Series A 6,676 7,229 14,996 15,494 120,020 Dominion Resources, Inc., Preferred 6.75%, Series A 7,924 7,847 Cayman Islands 0.4% 27,950 DTE Energy Co., Preferred 6.50% 1,867 1,972 USD 1,887 METAL 2017-1 LLC, 2,115 First Tennessee Bank NA, Preferred 4.58%, Oct 15, 2042 2,423 2,603 3.75%, Series 144A 1,471 2,131 USD 6,780 Sable International Finance Ltd., 2,175 Fortive Corp., Preferred 5.00%, Series A, 6.03%, Jan 31, 2026 8,613 8,969 Expiry Jul 1, 2021 2,927 2,696 11,036 11,572 113,300 Hess Corp., Preferred 8.00% 10,009 7,683 Austria 0.4% 4,025 M&T Bank Corp., Preferred 6.38%, EUR 6,760 Republic of Austria Government Bond, Series A 4,358 5,566 zero coupon, Jul 15, 2023 10,198 10,648 193 M&T Bank Corp., Preferred 6.38%, Series C 245 266 Finland 0.3% 205,755 NextEra Energy, Inc., Preferred 6.12% 15,143 16,198 EUR 6,125 Finland Government Bond, 257,887 People’s United Financial, Inc., Preferred 1.50%, Apr 15, 2023 10,054 10,279 5.63%, Series A 8,859 7,823 India 0.3% 38,305 Stanley Black & Decker, Inc., Preferred USD 3,170 Adani Ports & Special Economic Zone 5.38% 5,606 4,755 Ltd., 43,700 SunTrust Banks, Inc., Preferred 4.00% 997 1,191 4.00%, Jul 30, 2027 4,157 3,876 10,511 U.S. Bancorp, Preferred 3.50%, Series A 10,543 10,695 USD 2,451 NTPC Ltd., 167,000 U.S. Bancorp, Preferred 6.50%, Series F 5,245 6,040 4.38%, Nov 26, 2024 3,434 3,293 154,850 U.S. Bancorp, Preferred 5.50%, Series K 5,041 5,222 USD 2,250 NTPC Ltd., 114,465 Wells Fargo & Co., Preferred 5.85%, 4.38%, Nov 26, 2024 2,880 3,026 Series Q 3,453 3,841 46,635 Zions Bancorporation, Preferred 6.95% 1,429 1,799 10,471 10,195 103,514 105,813 Chile 0.3% EUR 5,360 Chile Government International Bond, Total Investments 2,875,760 2,914,222 1.44%, Feb 01, 2029 8,099 8,204 Derivative assets 1.0% 31,541 Bermuda 0.3% Derivative liabilities (4.8%) (143,154) USD 5,470 IHS Markit Ltd., Other assets less liabilities 5.5% 162,832 4.75%, Aug 01, 2028 7,216 7,325 Net assets attributable to Hong Kong 0.2% unitholders 100.0% 2,965,441 USD 4,065 CNAC HK Finbridge Co. Ltd., 4.63%, Mar 14, 2023 5,273 5,607

The accompanying notes are an integral part of the financial statements.

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MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by Category December 31, 2018 December 31, 2017

Bonds United States 53.6 53.4 Canada 5.7 7.1 Indonesia 3.9 2.5 Mexico 3.1 5.0 Australia 2.4 3.5 Ireland 2.3 - Brazil 2.3 0.9 Supranational 1.9 3.4 Norway 1.8 0.8 Luxembourg 1.7 - Philippines 1.6 1.9 Germany 1.6 0.9 Malaysia 1.5 0.6 Colombia 1.5 0.5 New Zealand 1.5 3.1 Singapore 1.4 2.4 Netherlands 1.4 0.9 Hungary 1.1 - Great Britain 0.9 0.4 Sweden 0.5 - Portugal 0.5 0.1 Cayman Islands 0.4 0.2 Austria 0.4 - Finland 0.3 - India 0.3 0.3 Chile 0.3 - Bermuda 0.3 - Hong Kong 0.2 - France 0.2 - Marshall Islands 0.1 - Equities United States 3.6 4.8 Short-Term Investments - 0.2 Derivative assets 1.0 1.8 Derivative liabilities (4.8) (0.1) Other assets less liabilities 5.5 5.4 100.0 100.0

The accompanying notes are an integral part of the financial statements.

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MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

FORWARD FOREIGN CURRENCY CONTRACTS (3.7%) Purchased currency Sold currency Valueasat Valueasat Unrealized Counter- Settlement December 31, 2018 December 31, 2018 gain/loss party credit Contract price date Currency ($) (’000) Currency ($) (’000) ($) (’000) Counterparty rating USD 0.77561 Feb 13, 2019 USD 57,188 CAD 54,041 3,147 Canadian Imperial Bank of Commerce A+ USD 0.77505 Feb 13, 2019 USD 57,188 CAD 54,080 3,108 Royal Bank of Canada AA- USD 0.78227 Feb 13, 2019 USD 45,880 CAD 42,986 2,894 Citibank N.A. A+ USD 0.77634 Feb 13, 2019 USD 34,313 CAD 32,394 1,919 Bank of Montreal A+ EUR 0.66022 Feb 13, 2019 EUR 59,020 CAD 57,119 1,901 State Street Bank and Trust Company AA- USD 0.77370 Feb 13, 2019 USD 28,433 CAD 26,934 1,499 Toronto Dominion Bank AA- USD 0.77345 Feb 13, 2019 USD 28,433 CAD 26,943 1,490 Morgan Stanley Capital Services LLC A+ USD 0.77387 Feb 13, 2019 USD 26,820 CAD 25,401 1,419 Bank of Montreal A+ USD 0.77495 Feb 13, 2019 USD 22,875 CAD 21,634 1,241 Toronto Dominion Bank AA- USD 0.77373 Feb 13, 2019 USD 22,747 CAD 21,547 1,200 Royal Bank of Canada AA- EUR 0.66825 Feb 13, 2019 EUR 25,763 CAD 24,634 1,129 Royal Bank of Canada AA- USD 0.74820 Feb 13, 2019 USD 42,296 CAD 41,432 864 Toronto Dominion Bank AA- EUR 0.64878 Feb 13, 2019 EUR 54,976 CAD 54,144 832 Toronto Dominion Bank AA- EUR 0.65007 Feb 13, 2019 EUR 39,576 CAD 38,900 676 Royal Bank of Canada AA- EUR 0.65003 Feb 13, 2019 EUR 39,576 CAD 38,902 674 Morgan Stanley Capital Services LLC A+ EUR 0.64902 Feb 13, 2019 EUR 41,232 CAD 40,593 639 Goldman Sachs Bank USA A+ USD 0.77354 Feb 13, 2019 USD 11,373 CAD 10,776 597 Citibank N.A. A+ USD 0.77360 Feb 13, 2019 USD 10,987 CAD 10,409 578 Citibank N.A. A+ USD 0.77356 Feb 13, 2019 USD 10,987 CAD 10,410 577 Citibank N.A. A+ EUR 0.66457 Feb 13, 2019 EUR 14,313 CAD 13,762 551 State Street Bank and Trust Company AA- USD 0.77423 Feb 13, 2019 USD 8,940 CAD 8,463 477 Canadian Imperial Bank of Commerce A+ GBP 0.58306 Feb 13, 2019 GBP 30,007 CAD 29,557 450 Bank of Nova Scotia A+ MXN 15.32424 Feb 13, 2019 MXN 8,272 CAD 7,840 432 JP Morgan Chase Bank N.A. A- MXN 15.30762 Feb 13, 2019 MXN 7,747 CAD 7,350 397 Royal Bank of Canada AA- CAD 0.16130 Feb 13, 2019 CAD 16,830 NOK 16,471 359 Toronto Dominion Bank AA- NZD 1.17378 Feb 13, 2019 NZD 4,392 CAD 4,087 305 U.S. Bank AA- MXN 14.90823 Feb 13, 2019 MXN 9,168 CAD 8,932 236 JP Morgan Chase Bank N.A. A- MXN 15.07088 Feb 13, 2019 MXN 6,359 CAD 6,128 231 JP Morgan Chase Bank N.A. A- USD 0.74683 Feb 13, 2019 USD 12,241 CAD 12,013 228 Citibank N.A. A+ MXN 15.03960 Feb 13, 2019 MXN 6,346 CAD 6,128 218 Morgan Stanley Capital Services LLC A+ EUR 0.66038 Feb 13, 2019 EUR 6,558 CAD 6,345 213 Goldman Sachs Bank USA A+ MXN 15.01785 Feb 13, 2019 MXN 6,383 CAD 6,173 210 Morgan Stanley Capital Services LLC A+ MXN 15.13793 Feb 13, 2019 MXN 4,785 CAD 4,591 194 JP Morgan Chase Bank N.A. A- MXN 14.83716 Feb 13, 2019 MXN 8,362 CAD 8,185 177 Citibank N.A. A+ MXN 15.23428 Feb 13, 2019 MXN 3,187 CAD 3,038 149 Royal Bank of Canada AA- MXN 14.82510 Feb 13, 2019 MXN 6,212 CAD 6,086 126 Toronto Dominion Bank AA- USD 0.74691 Feb 13, 2019 USD 5,663 CAD 5,557 106 Morgan Stanley Capital Services LLC A+ CAD 0.16129 Feb 13, 2019 CAD 3,366 NOK 3,295 71 JP Morgan Chase Bank N.A. A- CAD 0.15987 Feb 13, 2019 CAD 2,068 NOK 2,042 26 UBS AG Warburg A- MXN 14.52617 Feb 13, 2019 MXN 3,794 CAD 3,793 1 Morgan Stanley Capital Services LLC A+ Derivative assets 31,541 MXN 14.51398 Feb 13, 2019 MXN 4,269 CAD 4,272 (3) Morgan Stanley Capital Services LLC A+ CAD 0.15700 Feb 13, 2019 CAD 1,119 NOK 1,125 (6) Canadian Imperial Bank of Commerce A+ CAD 1.54251 Feb 13, 2019 CAD 697 EUR 707 (10) Toronto Dominion Bank AA- CAD 0.15765 Feb 13, 2019 CAD 16,987 NOK 17,010 (23) Barclays Bank PLC A CAD 1.72050 Feb 13, 2019 CAD 7,687 GBP 7,780 (93) Citibank N.A. A+ CAD 0.06738 Feb 13, 2019 CAD 5,729 MXN 5,854 (125) State Street Bank and Trust Company AA- CAD 1.50578 Feb 13, 2019 CAD 3,696 EUR 3,842 (146) Morgan Stanley Capital Services LLC A+ CAD 0.91585 Feb 13, 2019 CAD 3,006 AUD 3,155 (149) Toronto Dominion Bank AA- CAD 0.92622 Feb 13, 2019 CAD 4,338 AUD 4,502 (164) Royal Bank of Canada AA- CAD 0.93362 Feb 13, 2019 CAD 7,332 AUD 7,549 (217) Australia and New Zealand Banking Group Ltd. AA- CAD 1.34678 Feb 13, 2019 CAD 17,673 USD 17,904 (231) Morgan Stanley Capital Services LLC A+ CAD 1.50670 Feb 13, 2019 CAD 6,749 EUR 7,010 (261) Citibank N.A. A+ CAD 1.50675 Feb 13, 2019 CAD 6,749 EUR 7,010 (261) Morgan Stanley Capital Services LLC A+ CAD 1.51027 Feb 13, 2019 CAD 9,117 EUR 9,448 (331) Toronto Dominion Bank AA- CAD 1.52342 Feb 13, 2019 CAD 12,832 EUR 13,183 (351) Citibank N.A. A+ CAD 1.71019 Feb 13, 2019 CAD 21,830 GBP 22,226 (396) Standard Chartered Bank A CAD 1.53551 Feb 13, 2019 CAD 20,803 EUR 21,203 (400) Toronto Dominion Bank AA- CAD 0.85513 Feb 13, 2019 CAD 5,889 NZD 6,305 (416) Australia and New Zealand Banking Group Ltd. AA- CAD 1.50974 Feb 13, 2019 CAD 13,289 EUR 13,776 (487) Morgan Stanley Capital Services LLC A+ CAD 1.50732 Feb 13, 2019 CAD 13,630 EUR 14,152 (522) Morgan Stanley Capital Services LLC A+ CAD 1.50673 Feb 13, 2019 CAD 13,498 EUR 14,021 (523) JP Morgan Chase Bank N.A. A- CAD 1.50600 Feb 13, 2019 CAD 13,492 EUR 14,021 (529) Citibank N.A. A+

The accompanying notes are an integral part of the financial statements.

121 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME POOLED FUND

FORWARD FOREIGN CURRENCY CONTRACTS (3.7%) Purchased currency Sold currency Valueasat Valueasat Unrealized Counter- Settlement December 31, 2018 December 31, 2018 gain/loss party credit Contract price date Currency ($) (’000) Currency ($) (’000) ($) (’000) Counterparty rating CAD 1.50575 Feb 13, 2019 CAD 13,490 EUR 14,021 (531) Morgan Stanley Capital Services LLC A+ CAD 1.50515 Feb 13, 2019 CAD 13,610 EUR 14,152 (542) JP Morgan Chase Bank N.A. A- CAD 1.29837 Feb 13, 2019 CAD 10,729 USD 11,275 (546) Toronto Dominion Bank AA- CAD 1.50266 Feb 13, 2019 CAD 13,556 EUR 14,119 (563) State Street Bank and Trust Company AA- CAD 1.30725 Feb 13, 2019 CAD 13,073 USD 13,644 (571) Morgan Stanley Capital Services LLC A+ CAD 1.29251 Feb 13, 2019 CAD 11,374 USD 12,007 (633) Royal Bank of Canada AA- CAD 1.29066 Feb 13, 2019 CAD 12,907 USD 13,644 (737) State Street Bank and Trust Company AA- CAD 1.51978 Feb 13, 2019 CAD 25,603 EUR 26,366 (763) Citibank N.A. A+ CAD 1.28759 Feb 13, 2019 CAD 12,876 USD 13,644 (768) Toronto Dominion Bank AA- CAD 1.27836 Feb 13, 2019 CAD 11,506 USD 12,280 (774) Royal Bank of Canada AA- CAD 1.50905 Feb 13, 2019 CAD 20,940 EUR 21,717 (777) Canadian Imperial Bank of Commerce A+ CAD 1.51079 Feb 13, 2019 CAD 26,206 EUR 27,147 (941) State Street Bank and Trust Company AA- CAD 1.50843 Feb 13, 2019 CAD 26,257 EUR 27,243 (986) Royal Bank of Canada AA- CAD 1.50657 Feb 13, 2019 CAD 27,220 EUR 28,277 (1,057) Morgan Stanley Capital Services LLC A+ CAD 1.50547 Feb 13, 2019 CAD 26,974 EUR 28,041 (1,067) Citibank N.A. A+ CAD 1.28991 Feb 13, 2019 CAD 19,349 USD 20,466 (1,117) Toronto Dominion Bank AA- CAD 1.30069 Feb 13, 2019 CAD 27,090 USD 28,417 (1,327) Royal Bank of Canada AA- CAD 1.28257 Feb 13, 2019 CAD 21,751 USD 23,139 (1,388) JP Morgan Chase Bank N.A. A- CAD 1.27975 Feb 13, 2019 CAD 21,703 USD 23,139 (1,436) Goldman Sachs Bank USA A+ CAD 1.30325 Feb 13, 2019 CAD 31,319 USD 32,789 (1,470) Canadian Imperial Bank of Commerce A+ CAD 0.94639 Feb 13, 2019 CAD 94,413 AUD 95,902 (1,489) Canadian Imperial Bank of Commerce A+ CAD 1.29712 Feb 13, 2019 CAD 32,158 USD 33,826 (1,668) Citibank N.A. A+ CAD 0.95837 Feb 13, 2019 CAD 37,134 SGD 38,822 (1,688) Standard Chartered Bank A CAD 1.30318 Feb 13, 2019 CAD 38,625 USD 40,440 (1,815) Toronto Dominion Bank AA- CAD 1.28394 Feb 13, 2019 CAD 30,193 USD 32,085 (1,892) Toronto Dominion Bank AA- CAD 1.54959 Feb 13, 2019 CAD 217,395 EUR 219,565 (2,170) HSBC Securities USA Inc. AA- CAD 0.06670 Feb 13, 2019 CAD 75,104 MXN 77,522 (2,418) Bank of Nova Scotia A+ CAD 1.30251 Feb 13, 2019 CAD 52,169 USD 54,648 (2,479) State Street Bank and Trust Company AA- CAD 1.27938 Feb 13, 2019 CAD 41,008 USD 43,733 (2,725) Royal Bank of Canada AA- CAD 1.28366 Feb 13, 2019 CAD 54,811 USD 58,259 (3,448) Morgan Stanley Capital Services LLC A+ CAD 0.86766 Feb 13, 2019 CAD 85,643 NZD 90,372 (4,729) U.S. Bank AA- CAD 1.29933 Feb 13, 2019 CAD 110,443 USD 115,974 (5,531) Toronto Dominion Bank AA- CAD 1.30001 Feb 13, 2019 CAD 132,219 USD 138,768 (6,549) Barclays Bank PLC A CAD 1.30200 Feb 13, 2019 CAD 200,308 USD 209,908 (9,600) Barclays Bank PLC A CAD 1.30157 Feb 13, 2019 CAD 200,241 USD 209,908 (9,667) Toronto Dominion Bank AA- CAD 1.30156 Feb 13, 2019 CAD 200,240 USD 209,908 (9,668) Citibank N.A. A+ CAD 1.30055 Feb 13, 2019 CAD 200,084 USD 209,908 (9,824) Toronto Dominion Bank AA- CAD 1.29700 Feb 13, 2019 CAD 199,539 USD 209,908 (10,369) Royal Bank of Canada AA- CAD 1.29570 Feb 13, 2019 CAD 199,338 USD 209,908 (10,570) Citibank N.A. A+ CAD 1.30150 Feb 13, 2019 CAD 400,463 USD 419,817 (19,354) JP Morgan Chase Bank N.A. A- Derivative liabilities (141,291) Total (109,750) FUTURES CONTRACTS (0.1%) Commitment Unrealized No. of Contract Futures Delivery amount Price as at gain/(loss) contracts price contracts date ($) (’000) December 31, 2018 (CAD $) (’000) (197) USD 119.76 10-Year U.S. Treasury Note Future Mar 20, 2019 USD 24,037 USD 122.02 (607) (662) EUR 162.32 Euro Bond Future Mar 07, 2019 EUR 108,263 EUR 163.54 (1,256) Derivative liabilities (1,863)

The accompanying notes are an integral part of the financial statements.

122 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

Assets Income Current assets Interest for distribution purposes 4,206 484 Investments, at fair value 99,068 95,357 Dividend income 227 53 Cash 4,923 5,105 Foreign exchange gain (loss) on income 3 5 Margin deposited on derivatives 564 35 Foreign exchange gain (loss) on currency 224 (454) Subscriptions receivable - 14 Other income (loss) - 5 Realized gain (loss) on sales of investments (558) 19 Receivable from investments sold 585 203 Realized gain (loss) on derivatives (386) (680) Interest, dividends and other receivables 1,136 904 Change in unrealized appreciation (depreciation) in Derivative assets 1,116 1,815 the value of investments 1,445 (885) 107,392 103,433 Change in unrealized appreciation (depreciation) in Liabilities the value of derivatives (5,446) 1,714 Current liabilities (285) 261 Payable on investments purchased 1,744 3,118 Expenses Accrued expenses and other liabilities 28 15 Audit fees 5 5 Derivative liabilities 4,848 101 Transfer agent fees 1 - 6,620 3,234 Interest expense & bank charges 4 16 Unitholder reporting costs 31 2 Net assets attributable to unitholders 100,772 100,199 Custodial fees 82 8 Net assets attributable to unitholders per unit Foreign withholding taxes 93 12 9.48 9.97 Transaction costs 2 19 218 62 Increase (decrease) in net assets attributable to unitholders (503) 199 Increase (decrease) in net assets attributable to unitholders per unit (0.05) 0.07

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 100,199 - Increase (decrease) in net assets attributable to unitholders (503) 199 Distribution to unitholders from: Net investment income (4,504) (512)

Total distributions to unitholders (4,504) (512)

Security transactions Proceeds from units issued 1,076 100,000 Reinvestments of distributions to unitholders 4,504 512

Total security transactions 5,580 100,512

Net assets attributable to unitholders - end of year 100,772 100,199

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 10,051 - Units issued 109 10,000 Units issued for reinvestment of distributions 475 51 Units redeemed - -

Units outstanding end of year 10,635 10,051

The accompanying notes are an integral part of the financial statements.

123 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 95.0% Increase (decrease) in net assets attributable to United States 52.8% unitholders (503) 199 EUR 100 AbbVie, Inc., Adjustments for: 1.38%, May 17, 2024 155 158 Change in unrealized foreign exchange gain (loss) USD 215 AECOM, on currency (61) (31) 5.88%, Oct 15, 2024 298 290 Realized gain (loss) on sales of investments 558 (19) USD 350 AECOM, Realized gain (loss) on derivatives 386 680 5.13%, Mar 15, 2027 444 411 Change in unrealized appreciation (depreciation) in USD 120 Altice US Finance I Corp., the value of investments (1,445) 885 5.03%, Jan 15, 2026 156 156 Change in unrealized appreciation (depreciation) in USD 209 American Airlines, Inc., the value of derivatives 5,446 (1,714) 4.81%, Oct 10, 2021 273 278 Purchases of investments (62,592) (96,653) USD 193 American Airlines, Inc., Proceeds from disposition of investments 57,626 2,665 4.59%, Apr 28, 2023 246 251 Margin on derivatives (529) (35) USD 147 American Express Credit Account Master Interest, dividends and other receivables (232) (904) Trust, Accrued expenses and other liabilities 13 15 2.04%, May 15, 2023 185 198 USD 75 American Tower Corp., Net cash provided by (used in) operating 4.70%, Mar 15, 2022 105 105 activities (1,333) (94,912) USD 150 American Tower Corp., Cash flows from financing activities 4.00%, Jun 01, 2025 197 201 Proceeds from sale of units 1,090 99,986 USD 185 Antero Midstream Partners LP / Antero Net cash provided by (used in) financing Midstream Finance Corp., activities 1,090 99,986 5.38%, Sep 15, 2024 244 237 USD 185 Antero Resources Corp., Change in unrealized foreign exchange gain (loss) 5.63%, Jun 01, 2023 243 241 on currency 61 31 USD 195 Antero Resources Corp., Net increase (decrease) in cash (243) 5,074 5.00%, Mar 01, 2025 251 242 Cash (bank overdraft) beginning of year 5,105 - USD 105 Anthem, Inc., Cash (bank overdraft) end of year 4,923 5,105 2.75%, Oct 15, 2042 432 519 Supplemental information on cash flows from operating activities: USD 225 Apple, Inc., Interest received, net of currency loss on foreign 3.20%, May 13, 2025 290 302 short term notes and foreign withholding taxes 3,941 (420) USD 220 Aramark Services, Inc., Dividends received, net of foreign withholding taxes 199 30 5.13%, Jan 15, 2024 293 298 Interest paid 4 16 USD 157 Aramark Services, Inc., 4.45%, Mar 28, 2024 203 208 USD 126 Aramark Services, Inc., 4.53%, Mar 11, 2025 165 168 USD 150 Aramark Services, Inc., 5.00%, Apr 01, 2025 203 201 USD 158 Arroyo Mortgage Trust 2018-1, 3.76%, Apr 25, 2048 203 216 EUR 100 Avery Dennison Corp., 1.25%, Mar 03, 2025 155 152 USD 215 BAC Capital Trust XIV, 4.00%, Sep 15, 2049 249 209 USD 110 Ball Corp., 4.38%, Dec 15, 2020 146 151 USD 190 Ball Corp., 4.00%, Nov 15, 2023 246 253 USD 250 Ball Corp., 5.25%, Jul 01, 2025 345 341 USD 304 Ball Corp., 4.88%, Mar 15, 2026 398 406

The accompanying notes are an integral part of the financial statements.

124 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 100 BAMLL Commercial Mortgage Securities USD 175 Cengage Learning, Inc., Trust 2018-DSNY, 7.03%, Jun 07, 2023 212 205 3.61%, Sep 15, 2034 131 136 USD 124 CenturyLink, Inc., USD 120 Banff Merger Sub, Inc., 5.54%, Jan 31, 2025 150 158 9.75%, Sep 01, 2026 156 150 USD 341 Charter Communications Operating LLC, EUR 100 Bank of America Corp., FRN 4.83%, Apr 30, 2025 438 449 0.39%, Apr 25, 2024 156 152 USD 400 Chase Issuance Trust, USD 150 BankUnited, Inc., 1.37%, Jun 15, 2021 506 542 4.88%, Nov 17, 2025 203 209 USD 40 Chesapeake Energy Corp., USD 110 BBCMS 2018-TALL Mortgage Trust, 5.50%, Sep 15, 2026 48 44 4.95%, Mar 15, 2037 143 146 USD 125 Chesapeake Energy Corp., USD 75 BCP Renaissance Parent LLC, 8.00%, Jun 15, 2027 161 144 6.09%, Oct 31, 2024 96 99 USD 75 CIT Group, Inc., USD 115 Beazer Homes USA, Inc., 5.80%, Dec 31, 2049 99 93 5.88%, Oct 15, 2027 146 125 USD 250 Citibank Credit Card Issuance Trust, USD 111 Berry Global, Inc., 1.92%, Apr 07, 2022 317 337 4.40%, Feb 08, 2020 146 150 USD 140 Citibank Credit Card Issuance Trust, USD 286 Berry Global, Inc., 2.49%, Jan 20, 2023 172 190 4.62%, Oct 01, 2022 369 383 AUD 150 Citigroup, Inc., USD 115 BHMS 2018-ATLS, 3.48%, May 04, 2021 149 146 4.01%, Jul 15, 2035 151 156 USD 190 Citrix Systems, Inc., USD 184 BJ’s Wholesale Club, Inc., 4.50%, Dec 01, 2027 245 248 5.62%, Feb 03, 2024 230 245 USD 93 CLI Funding LLC, USD 35 Blue Racer Midstream LLC / Blue Racer 4.03%, Apr 18, 2043 119 129 Finance Corp., USD 271 Coinstar Funding LLC Series 2017-1, 6.13%, Nov 15, 2022 47 46 5.22%, Apr 25, 2047 358 374 USD 134 BWAY Corp., USD 250 Concho Resources, Inc., 5.95%, Apr 03, 2024 177 173 4.38%, Jan 15, 2025 332 338 USD 45 BX Commercial Mortgage Trust USD 85 ConocoPhillips Co., 2018-BIOA, 4.95%, Mar 15, 2026 119 124 4.98%, Mar 15, 2037 58 60 USD 260 Constellation Brands, Inc., USD 134 BX Trust 2017-APPL, 4.25%, May 01, 2023 351 359 3.66%, Jul 15, 2034 167 182 USD 115 Cott Holdings, Inc., USD 200 BXP Trust 2017-GM, 5.50%, Apr 01, 2025 150 149 3.42%, Jun 13, 2039 252 258 USD 185 Crown Americas LLC / Crown Americas USD 60 Cablevision Systems Corp., Capital Corp. IV, 5.88%, Sep 15, 2022 80 81 4.50%, Jan 15, 2023 244 247 USD 200 Capital One Financial Corp., USD 125 Crown Cork & Seal Co., Inc., 4.25%, Apr 30, 2025 257 272 7.38%, Dec 15, 2026 188 183 USD 330 Capital One Multi-Asset Execution Trust, USD 210 CSC Holdings LLC, 1.34%, Apr 15, 2022 418 447 5.50%, Apr 15, 2027 262 267 USD 100 Capital One Multi-Asset Execution Trust, USD 200 CSC Holdings LLC, 2.00%, Jan 17, 2023 127 135 7.50%, Apr 01, 2028 259 274 USD 150 CCO Holdings LLC / CCO Holdings Capital USD 83 CSI Compressco LP / CSI Compressco Corp., Finance, Inc., 5.75%, Jan 15, 2024 197 203 7.50%, Apr 01, 2025 109 106 USD 165 CCO Holdings LLC / CCO Holdings Capital USD 240 CVS Health Corp., Corp., 4.10%, Mar 25, 2025 307 325 5.00%, Feb 01, 2028 198 208 USD 155 Darling Ingredients, Inc., USD 250 CCO Holdings LLC / CCO Holdings Capital 5.38%, Jan 15, 2022 203 211 Corp., Private Placement USD 185 Dawn Acquisition LLC, 5.13%, May 01, 2027 312 319 6.56%, Dec 31, 2025 241 239 USD 115 CDK Global, Inc., USD 83 DB Master Finance LLC, 5.88%, Jun 15, 2026 152 158 3.63%, Nov 20, 2047 108 110 USD 190 CDW LLC / CDW Finance Corp., USD 375 DB Master Finance LLC 2015-1, 5.00%, Sep 01, 2025 249 249 3.98%, Feb 20, 2045 486 520 USD 10 DCP Midstream Operating LP, 3.88%, Mar 15, 2023 13 13

The accompanying notes are an integral part of the financial statements.

125 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 175 DCP Midstream Operating LP, USD 113 FOCUS Brands Funding LLC, 5.38%, Jul 15, 2025 231 234 5.09%, Apr 30, 2047 152 157 USD 228 Dell International LLC, USD 58 Ford Credit Auto Owner Trust 2016-C, 4.78%, Sep 07, 2023 289 300 1.22%, Mar 15, 2021 73 79 USD 115 Diamondback Energy, Inc., USD 25 Ford Motor Co., 4.75%, Nov 01, 2024 149 152 6.63%, Oct 01, 2028 38 35 USD 230 Diamondback Energy, Inc., USD 107 Freddie Mac Structured Agency Credit Risk 5.38%, May 31, 2025 299 307 Debt Notes, USD 200 Discover Card Execution Note Trust, 4.71%, Oct 25, 2028 138 147 1.39%, Mar 15, 2022 251 270 USD 221 Freddie Mac Structured Agency Credit Risk USD 110 Discover Financial Services, Debt Notes, 4.10%, Feb 09, 2027 138 140 3.71%, Oct 25, 2029 284 304 USD 140 DISH Network Corp., USD 180 Freddie Mac Structured Agency Credit Risk 3.38%, Aug 15, 2026 173 155 Debt Notes, USD 148 Domino’s Pizza Master Issuer LLC, 3.31%, Dec 25, 2029 230 246 3.08%, Jul 25, 2047 189 198 USD 90 FTS International, Inc., USD 247 Domino’s Pizza Master Issuer LLC, 6.25%, May 01, 2022 117 110 3.74%, Jul 25, 2047 315 338 USD 225 GCI Liberty, Inc., USD 189 Driven Brands Funding LLC, 1.75%, Sep 30, 2046 293 301 4.74%, Apr 20, 2048 240 263 USD 141 Gentiva Health Services, Inc., USD 170 E*TRADE Financial Corp., FRN 6.55%, Jul 02, 2025 186 188 5.88%, Dec 31, 2049 221 210 USD 250 GGP, Inc., USD 195 Energy Transfer Equity LP, 4.84%, May 07, 2025 320 323 4.78%, Feb 02, 2024 250 261 USD 115 GLP Capital LP / GLP Financing II, Inc., USD 235 EOG Resources, Inc., 5.38%, Apr 15, 2026 156 156 2.63%, Mar 15, 2023 303 309 USD 232 Grifols Worldwide Operations USA, Inc., EUR 100 Equinix, Inc., 4.81%, Jan 31, 2025 296 305 2.88%, Mar 15, 2024 156 156 USD 100 GS Mortgage Securities Corp Trust USD 150 Equinix, Inc., 2018-TWR, 5.88%, Jan 15, 2026 198 207 3.96%, Jul 15, 2031 131 135 USD 150 Equinix, Inc., USD 100 GS Mortgage Securities Corp. Trust 5.38%, May 15, 2027 197 201 2018-CHILL, USD 120 ESH Hospitality, Inc., 4.86%, Feb 15, 2037 125 137 5.25%, May 01, 2025 155 153 USD 105 HC2 Holdings, Inc., USD 180 Expedia, Inc., 11.50%, Dec 01, 2021 137 134 5.00%, Feb 15, 2026 245 249 USD 150 HCA Healthcare, Inc., USD 130 Expedia, Inc., 6.25%, Feb 15, 2021 203 210 3.80%, Feb 15, 2028 159 161 USD 140 HCA, Inc., USD 73 Fannie Mae Connecticut Avenue 7.50%, Feb 15, 2022 199 204 Securities, USD 51 HCA, Inc., 3.96%, Jan 25, 2029 93 100 4.08%, Mar 18, 2023 67 68 USD 175 Fannie Mae Connecticut Avenue USD 190 HCA, Inc., Securities, 5.00%, Mar 15, 2024 252 258 6.96%, Jan 25, 2029 246 261 USD 75 HCA, Inc., USD 95 Fannie Mae Connecticut Avenue 5.38%, Feb 01, 2025 97 100 Securities, USD 175 HCA, Inc., 3.81%, Apr 25, 2029 121 130 5.25%, Apr 15, 2025 235 238 USD 103 Fannie Mae Connecticut Avenue USD 115 HCA, Inc., Securities, 4.50%, Feb 15, 2027 147 149 3.46%, Oct 25, 2029 132 141 USD 75 Hilton Domestic Operating Co., Inc., USD 175 Fifth Third Bancorp, 4.25%, Sep 01, 2024 97 97 5.10%, Jun 30, 2023 227 208 USD 91 Hilton Worldwide Finance LLC, USD 365 Financial & Risk US Holdings, Inc., 4.53%, Oct 25, 2023 116 120 6.56%, Oct 01, 2025 474 477 USD 6 Honda Auto Receivables 2015-4 Owner USD 238 First Data Corp., Trust, 4.81%, Jul 10, 2022 303 313 1.23%, Sep 23, 2019 8 8 USD 185 First Data Corp., 5.38%, Aug 15, 2023 245 249

The accompanying notes are an integral part of the financial statements.

126 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 114 Hoya Midco LLC, USD 144 Micron Technology, Inc., 6.30%, Jun 30, 2024 146 148 4.53%, Apr 26, 2022 188 194 USD 60 HUB International Ltd., USD 190 Microsoft Corp., 5.78%, Apr 25, 2025 75 77 2.40%, Feb 06, 2022 252 257 USD 105 Huntington Bancshares, Inc., FRN EUR 100 Molson Coors Brewing Co., 5.70%, Dec 31, 2049 134 128 1.25%, Jul 15, 2024 150 154 AUD 140 Intel Corp., USD 85 Morgan Stanley Capital I Trust 2017-CLS, 4.00%, Dec 01, 2022 143 140 4.46%, Nov 15, 2034 109 114 GBP 110 International Business Machines Corp., USD 18 Motorola Solutions, Inc., 2.75%, Dec 21, 2020 193 196 4.60%, Feb 23, 2028 23 24 GBP 100 International Business Machines Corp., USD 235 Murphy Oil Corp., 2.63%, Aug 05, 2022 177 180 6.88%, Aug 15, 2024 319 320 USD 30 IRB Holding Corp., USD 93 MVW Owner Trust 2018-1, 6.03%, Feb 05, 2025 37 39 3.45%, Jan 21, 2036 124 129 USD 60 J.P. Morgan Chase Commercial Mortgage USD 120 Navient Private Education Refi Loan Trust Securities Trust, 2018-A, 4.22%, Jun 15, 2035 78 81 3.19%, Feb 18, 2042 151 162 USD 55 JP Morgan Chase Commerical Mortgage GBP 60 Nestlé Holdings, Inc., Securities Corp., 1.75%, Dec 09, 2020 103 105 4.38%, Jul 05, 2031 75 77 EUR 100 Netflix, Inc., EUR 100 JPMorgan Chase & Co., 3.63%, May 15, 2027 155 152 2.75%, Aug 24, 2022 169 168 USD 190 Netflix, Inc., USD 40 JPMorgan Chase & Co., 5.88%, Nov 15, 2028 245 253 6.10%, Dec 31, 2049 54 54 USD 155 Netflix, Inc., USD 232 KFC Holding Co., 6.38%, May 15, 2029 203 209 4.55%, Apr 03, 2025 298 310 USD 100 New Residential Mortgage Loan Trust USD 270 KFC Holding Co. / Pizza Hut Holdings LLC / 2018-4, Taco Bell of America LLC, 3.26%, Jan 25, 2048 131 137 5.00%, Jun 01, 2024 359 357 USD 260 Newfield Exploration Co., USD 215 KFC Holding Co. / Pizza Hut Holdings LLC / 5.63%, Jul 01, 2024 355 360 Taco Bell of America LLC, USD 165 Newfield Exploration Co., 5.25%, Jun 01, 2026 288 285 5.38%, Jan 01, 2026 222 221 USD 175 Kraft Heinz Foods Co., USD 120 Nexstar Escrow Corp., 4.88%, Feb 15, 2025 236 240 5.63%, Aug 01, 2024 154 154 USD 22 Lamar Media Corp., USD 81 NextEra Energy Operating Partners LP, 5.00%, May 01, 2023 29 30 4.25%, Sep 15, 2024 103 103 USD 137 LIN Television Corp., USD 96 NextEra Energy Operating Partners LP, 5.88%, Nov 15, 2022 181 187 4.50%, Sep 15, 2027 122 117 USD 67 Lions Gate Capital Holdings LLC, USD 390 Nissan Auto Receivables 2015-B Owner 5.88%, Nov 01, 2024 90 91 Trust, USD 45 Lions Gate Capital Holdings LLC, 1.79%, Jan 17, 2022 498 529 5.08%, Mar 24, 2025 58 59 USD 150 NRG Energy, Inc., USD 45 Live Nation Entertainment, Inc., 6.63%, Jan 15, 2027 205 207 5.63%, Mar 15, 2026 59 60 USD 140 NRG Energy, Inc., USD 185 M&T Bank Corp., 2.75%, Jun 01, 2048 179 206 5.13%, Dec 31, 2049 250 240 USD 200 Oasis Petroleum, Inc., USD 175 Marathon Petroleum Corp., 2.63%, Sep 15, 2023 299 241 5.13%, Dec 15, 2026 244 245 USD 200 Occidental Petroleum Corp., USD 190 Marriott Ownership Resorts, Inc., 3.50%, Jun 15, 2025 257 271 4.99%, Aug 29, 2025 249 254 USD 150 Olympic Tower 2017-OT Mortgage Trust, USD 140 Meredith Corp., 3.57%, May 10, 2039 197 203 5.53%, Jan 31, 2025 184 186 USD 110 Parsley Energy LLC / Parsley Finance Corp., USD 15 Meredith Corp., 5.38%, Jan 15, 2025 142 139 6.88%, Feb 01, 2026 19 20 USD 216 Post Holdings, Inc., USD 140 Metro-Goldwyn-Mayer, Inc., 4.78%, May 24, 2024 282 286 7.30%, Jul 06, 2026 182 180 USD 225 Post Holdings, Inc., USD 122 Microchip Technology, Inc., 5.00%, Aug 15, 2026 282 281 4.74%, May 29, 2025 159 158

The accompanying notes are an integral part of the financial statements.

127 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 260 Post Holdings, Inc., USD 175 Synovus Financial Corp., 5.75%, Mar 01, 2027 334 335 5.75%, Dec 15, 2025 239 242 USD 50 Post Holdings, Inc., USD 266 Taco Bell Funding LLC, 5.63%, Jan 15, 2028 64 63 4.97%, May 25, 2046 349 374 USD 164 Project Deep Blue Holdings LLC, USD 110 Targa Resources Partners LP / Targa 5.87%, Feb 12, 2025 208 214 Resources Partners Finance Corp., USD 150 Quad/Graphics, Inc., 5.88%, Apr 15, 2026 145 147 7.71%, Jun 30, 2026 196 200 USD 200 The ADT Corp., USD 148 Rackspace Hosting, Inc., 3.50%, Jul 15, 2022 251 254 5.83%, Nov 03, 2023 190 179 USD 100 The Edelman Financial Center LLC, USD 153 Realogy Group LLC, 6.03%, Jul 19, 2025 132 132 4.87%, Feb 08, 2025 194 199 EUR 126 The Goldman Sachs Group, Inc., USD 90 Redwood Trust, Inc., 1.38%, May 15, 2024 196 196 5.63%, Jul 15, 2024 119 116 USD 335 The Goldman Sachs Group, Inc., FRN USD 180 Refinitiv US Holdings, Inc., 3.43%, Feb 23, 2023 417 442 8.25%, Nov 15, 2026 235 225 USD 77 The ServiceMaster Co. LLC, USD 80 Regions Financial Corp., 5.12%, Nov 08, 2023 98 103 7.38%, Dec 10, 2037 139 138 USD 85 The Williams Cos., Inc., USD 370 SBA Communications Corp., 3.70%, Jan 15, 2023 112 113 4.88%, Sep 01, 2024 482 477 USD 195 The Williams Cos., Inc., USD 193 SBA Senior Finance II LLC, 4.55%, Jun 24, 2024 257 269 4.79%, Apr 11, 2025 243 253 EUR 100 Thermo Fisher Scientific, Inc., USD 135 SBA Tower Trust, 0.75%, Sep 12, 2024 150 152 3.45%, Mar 15, 2023 173 183 USD 149 Towd Point Mortgage Trust 2017-3, USD 175 Sealed Air Corp., 2.75%, Jun 25, 2057 188 199 6.50%, Dec 01, 2020 246 248 USD 96 Towd Point Mortgage Trust 2018-3, USD 150 Sealed Air Corp., 3.75%, May 25, 2058 129 132 4.88%, Dec 01, 2022 203 204 USD 206 Towd Point Mortgage Trust 2018-4, USD 100 Sealed Air Corp., 3.00%, Jun 25, 2058 261 275 5.13%, Dec 01, 2024 137 135 USD 106 Towd Point Mortgage Trust 2018-5, USD 175 Sealed Air Corp., 3.25%, Jul 25, 2058 135 143 5.50%, Sep 15, 2025 248 237 USD 180 Transcontinental Gas Pipe Line Co. LLC, USD 40 Service Corp. International, 7.85%, Feb 01, 2026 295 298 4.63%, Dec 15, 2027 51 52 USD 159 TransDigm, Inc., USD 150 SFAVE Commercial Mortgage Securities 5.24%, Jun 09, 2023 210 206 Trust 2015-5AVE, USD 130 Tribune Media Co., 4.39%, Jan 05, 2035 160 166 5.88%, Jul 15, 2022 171 179 USD 115 Sinclair Television Group, Inc., USD 70 Trimble, Inc., 5.63%, Aug 01, 2024 149 148 4.90%, Jun 15, 2028 91 94 USD 120 Sirius XM Radio, Inc., USD 111 Triton Container Finance V LLC, 5.38%, Jul 15, 2026 159 154 3.95%, Mar 20, 2043 143 152 USD 160 Sirius XM Radio, Inc., USD 150 Tyson Foods, Inc., 5.00%, Aug 01, 2027 202 201 3.95%, Aug 15, 2024 200 204 USD 193 Sprint Communications, Inc., USD 180 U.S. Bancorp, 5.10%, Feb 02, 2024 245 251 5.13%, Dec 31, 2049 242 244 USD 90 SS&C Technologies, Inc., USD 95 Uber Technologies, Inc., 5.03%, Apr 16, 2025 116 117 6.81%, Apr 04, 2025 123 126 USD 160 SS&C Technologies, Inc., USD 114 United Airlines, Inc., 5.06%, Apr 16, 2025 210 206 4.40%, Apr 01, 2024 146 149 USD 150 Stifel Financial Corp., USD 190 United Rentals North America, Inc., 3.50%, Dec 01, 2020 195 205 4.63%, Jul 15, 2023 250 256 USD 150 Stifel Financial Corp., USD 230 United Rentals North America, Inc., 4.25%, Jul 18, 2024 196 207 5.50%, May 15, 2027 303 292 USD 65 SunTrust Preferred Capital I, USD 200 United Rentals North America, Inc., 4.00%, Dec 31, 2049 74 64 4.88%, Jan 15, 2028 249 240 USD 160 Synovus Financial Corp., EUR 100 US Bancorp, 3.13%, Nov 01, 2022 202 207 0.85%, Jun 07, 2024 153 156

The accompanying notes are an integral part of the financial statements.

128 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 149 US Foods, Inc., USD 200 1011778 B.C. ULC / New Red Finance, 4.83%, Jun 27, 2023 196 196 Inc., USD 360 USB Capital IX, 5.00%, Oct 15, 2025 256 252 3.81%, Dec 31, 2049 412 364 AUD 250 Bank of Montreal, USD 114 USI, Inc., 3.25%, Oct 06, 2022 245 243 5.74%, May 16, 2024 144 147 490 Canada Housing Trust No. 1, USD 40 Vantage Data Centers Issuer LLC, 2.35%, Jun 15, 2023 485 492 4.07%, Feb 16, 2043 50 54 825 Canadian Government Bond, USD 189 Vantiv LLC, 1.25%, Nov 01, 2019 821 821 4.58%, Aug 20, 2024 251 248 515 Canadian Government Bond, AUD 100 Verizon Communications, Inc., 1.50%, Mar 01, 2020 513 513 3.50%, Feb 17, 2023 98 97 USD 370 Emera, Inc., USD 59 Verizon Owner Trust 2016-1, 6.75%, Jun 15, 2076 536 509 1.42%, Jan 20, 2021 75 80 USD 154 Enbridge, Inc., USD 290 VNO Mortgage Trust, 3.50%, Jun 10, 2024 196 205 3.91%, Jan 10, 2035 359 382 USD 161 Enbridge, Inc., FRN USD 621 Wachovia Capital Trust III, 6.00%, Jan 15, 2077 212 199 5.57%, Dec 31, 2049 793 768 AUD 200 Export Development Canada, USD 110 Walgreens Boots Alliance, Inc., 2.40%, Jun 07, 2021 195 193 3.30%, Nov 18, 2021 138 150 GBP 120 Export Development Canada, USD 130 Wand Merger Corp., 0.88%, Dec 07, 2021 200 207 8.13%, Jul 15, 2023 172 174 150 Ford Auto Securitization Trust, AUD 100 Wells Fargo & Co., 2.71%, Sep 15, 2023 150 149 3.24%, Jul 27, 2021 99 97 USD 175 MDC Partners, Inc., USD 184 Wendys Funding LLC 2015-1, 6.50%, May 01, 2024 220 219 4.08%, Jun 15, 2045 240 252 GBP 180 Province of Alberta, USD 69 Wendys Funding LLC 2018-1, 1.00%, Nov 15, 2021 300 310 3.57%, Mar 15, 2048 88 91 135 Province of Alberta, USD 120 Western Digital Corp., 3.40%, Dec 01, 2023 140 140 4.75%, Feb 15, 2026 154 143 EUR 245 Province of Alberta, USD 200 Williams Partners LP, 0.63%, Apr 18, 2025 380 387 3.75%, Jun 15, 2027 253 259 5,723 5,724 USD 250 WMG Acquisition Corp., 4.90%, Nov 01, 2023 326 330 Indonesia 3.9% USD 11 WPX Energy, Inc., EUR 100 Indonesia Government International Bond, 6.00%, Jan 15, 2022 15 15 2.15%, Jul 18, 2024 153 158 USD 140 WPX Energy, Inc., IDR 2,940,000 Indonesia Treasury Bond, 5.75%, Jun 01, 2026 180 174 8.25%, Jul 15, 2021 294 283 USD 50 Wyndham Destinations, Inc., IDR 5,025,000 Indonesia Treasury Bond, 4.99%, May 31, 2025 64 67 7.00%, May 15, 2022 484 466 USD 175 Wyndham Hotels & Resorts, Inc., IDR 858,000 Indonesia Treasury Bond, 4.49%, May 30, 2025 226 230 5.63%, May 15, 2023 76 75 USD 69 Zebra Technologies Corp., IDR 1,930,000 Indonesia Treasury Bond, 4.49%, Oct 27, 2021 89 93 8.38%, Mar 15, 2024 198 186 USD 110 Zions Bancorporation, IDR 2,395,000 Indonesia Treasury Bond, 5.80%, Dec 31, 2049 146 145 8.38%, Sep 15, 2026 249 233 IDR 3,525,000 Indonesia Treasury Bond, 52,374 53,237 7.00%, May 15, 2027 338 313 Canada 5.7% IDR 5,611,000 Indonesia Treasury Bond, USD 307 1011778 B.C. ULC, 6.13%, May 15, 2028 504 470 4.90%, Feb 17, 2024 393 401 IDR 915,000 Indonesia Treasury Bond, USD 175 1011778 B.C. ULC / New Red Finance, 9.00%, Mar 15, 2029 99 92 Inc., IDR 1,810,000 Indonesia Treasury Bond, 4.63%, Jan 15, 2022 227 232 8.75%, May 15, 2031 193 180 USD 200 1011778 B.C. ULC / New Red Finance, IDR 1,520,000 Indonesia Treasury Bond, Inc., 7.50%, Aug 15, 2032 148 136 4.25%, May 15, 2024 254 252 IDR 3,088,000 Indonesia Treasury Bond, 6.63%, May 15, 2033 276 256

The accompanying notes are an integral part of the financial statements.

129 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) IDR 2,974,000 Indonesia Treasury Bond, NZD 385 International Bank for Reconstruction & 7.50%, May 15, 2038 287 260 Development, USD 200 Pelabuhan Indonesia II PT, 3.50%, Jan 22, 2021 352 362 4.25%, May 05, 2025 260 258 NZD 200 International Bank for Reconstruction & USD 200 Pertamina Persero PT, Development, 4.30%, May 20, 2023 266 270 4.63%, Oct 06, 2021 187 194 USD 200 Perusahaan Listrik Negara PT, NZD 165 International Bank for Reconstruction & 5.45%, May 21, 2028 257 277 Development, 4,082 3,913 3.38%, Jan 25, 2022 148 156 NZD 105 International Finance Corporation, Mexico 3.5% 3.63%, May 20, 2020 94 98 USD 200 Banco Nacional de Comercio Exterior SNC, NOK 620 Nordic Investment Bank, 4.38%, Oct 14, 2025 263 262 1.38%, Jul 15, 2020 98 98 USD 300 Mexico City Airport Trust, NZD 225 Nordic Investment Bank, 4.25%, Oct 31, 2026 390 367 4.13%, Sep 19, 2020 205 211 USD 400 Mexico City Airport Trust, AUD 140 Nordic Investment Bank, 3.88%, Apr 30, 2028 495 483 5.00%, Apr 19, 2022 150 146 USD 275 Mexico City Airport Trust, 5.50%, Oct 31, 2046 343 332 2,719 2,748 USD 900 Mexico City Airport Trust, Brazil 2.5% 5.50%, Jul 31, 2047 1,095 1,086 BRL 2,365 Brazil Notas do Tesouro Nacional, Series F USD 200 Mexico Government International Bond, 10.00%, Jan 01, 2021 924 872 4.60%, Jan 23, 2046 246 243 BRL 3,700 Brazil Notas do Tesouro Nacional, Series F USD 150 Petroleos Mexicanos, 10.00%, Jan 01, 2023 1,442 1,366 6.00%, Mar 05, 2020 203 209 USD 200 Natura Cosmeticos SA, MXN 2,970 Petroleos Mexicanos, 5.38%, Feb 01, 2023 246 274 7.65%, Nov 24, 2021 192 189 2,612 2,512 USD 200 Petroleos Mexicanos, 4.63%, Sep 21, 2023 260 257 Australia 2.4% MXN 1,660 Petroleos Mexicanos, EUR 112 Australia & New Zealand Banking Group 7.19%, Sep 12, 2024 96 90 Ltd., 0.63%, Feb 21, 2023 174 174 3,583 3,518 AUD 165 Australia Government Bond, Supranational 2.7% 5.75%, Jul 15, 2022 186 180 NZD 165 Asian Development Bank, AUD 200 FBG Finance Pty Ltd., 4.63%, Mar 06, 2019 149 152 3.25%, Sep 06, 2022 196 192 USD 190 Asian Development Bank, AUD 260 New South Wales Treasury Corp., 2.00%, Feb 16, 2022 251 255 6.00%, Mar 01, 2022 291 280 AUD 95 Asian Development Bank, AUD 90 Queensland Treasury Corp., 5.00%, Mar 09, 2022 102 99 6.25%, Feb 21, 2020 89 91 IDR 1,070,000 European Bank for Reconstruction & AUD 410 Queensland Treasury Corp., Development, 6.00%, Jul 21, 2022 453 446 7.38%, Apr 15, 2019 98 101 USD 115 Sydney Airport Finance Co. Pty Ltd., NOK 1,250 European Investment Bank, 3.63%, Apr 28, 2026 148 150 1.50%, May 12, 2022 198 198 AUD 130 Telstra Corp., Ltd., AUD 140 Inter-American Development Bank, 7.75%, Jul 15, 2020 143 134 6.50%, Aug 20, 2019 147 138 AUD 155 Treasury Corp. of Victoria, NZD 160 Inter-American Development Bank, 2.25%, Oct 29, 2021 143 150 3.50%, May 15, 2021 144 151 AUD 250 Western Australia Treasury Corp., INR 7,650 International Bank for Reconstruction & 2.75%, Oct 20, 2022 246 245 Development, AUD 260 Western Australian Treasury Corp., 5.75%, Oct 28, 2019 150 147 2.50%, Jul 23, 2024 247 251 AUD 150 International Bank for Reconstruction & AUD 100 Westpac Banking Corp., Development, 7.25%, Feb 11, 2020 108 101 2.50%, Mar 12, 2020 147 145 2,424 2,394 AUD 100 International Bank for Reconstruction & Development, 2.80%, Jan 13, 2021 99 97

The accompanying notes are an integral part of the financial statements.

130 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) Ireland 2.2% SGD 475 Singapore Government Bond, EUR 725 Ireland Government Bond, 2.50%, Jun 01, 2019 450 477 3.90%, Mar 20, 2023 1,322 1,321 SGD 875 Singapore Government Bond, EUR 477 Ireland Government Bond, 3.25%, Sep 01, 2020 855 897 3.40%, Mar 18, 2024 858 870 1,556 1,637 2,180 2,191 Malaysia 1.5% Netherlands 2.0% MYR 804 Malaysia Government Bond, EUR 105 Bank Nederlandse Gemeenten NV, 4.16%, Jul 15, 2021 261 269 0.25%, Feb 22, 2023 161 166 MYR 270 Malaysia Government Bond, EUR 105 Bank Nederlandse Gemeenten NV, 3.62%, Nov 30, 2021 87 89 0.25%, Jun 07, 2024 160 165 MYR 1,700 Malaysia Government Bond, EUR 200 Bayer Capital Corp. BV, 4.06%, Sep 30, 2024 520 565 5.63%, Nov 22, 2019 312 239 MYR 375 Malaysia Government Bond, USD 150 Cimpress NV, 3.88%, Mar 14, 2025 125 123 7.00%, Jun 15, 2026 194 198 MYR 442 Malaysia Government Bond, EUR 100 Darling Global Finance BV, 3.90%, Nov 16, 2027 144 143 3.63%, May 15, 2026 157 155 MYR 255 Malaysia Government Bond, USD 200 Greenko Dutch BV, 3.73%, Jun 15, 2028 82 82 5.25%, Jul 24, 2024 258 246 MYR 812 Malaysia Government Bond, USD 220 NXP BV / NXP Funding LLC, 3.84%, Apr 15, 2033 240 251 4.63%, Jun 01, 2023 293 295 1,459 1,522 EUR 200 Teva Pharmaceutical Finance Netherlands II BV, Germany 1.5% 4.50%, Mar 01, 2025 323 317 NZD 280 KFW, USD 200 UPC Holding BV, 3.75%, May 29, 2020 252 262 5.50%, Jan 15, 2028 251 246 EUR 110 Kreditanstalt fuer Wiederaufbau, 0.38%, Mar 15, 2023 170 175 2,109 2,027 EUR 250 Kreditanstalt fuer Wiederaufbau, Norway 1.8% 2.13%, Aug 15, 2023 422 430 USD 150 Aker BP ASA, EUR 55 Kreditanstalt fuer Wiederaufbau, 5.88%, Mar 31, 2025 201 205 zero coupon, Sep 15, 2023 83 86 NOK 3,555 Norway Government Bond, AUD 200 Landwirtschaftliche Rentenbank, 4.50%, May 22, 2019 588 569 2.70%, Sep 05, 2022 196 195 NOK 4,570 Norway Government Bond, NZD 145 Landwirtschaftliche Rentenbank, 3.75%, May 25, 2021 776 765 3.00%, Feb 13, 2023 131 135 NOK 1,920 Norway Government Bond, NZD 200 Landwirtschaftliche Rentenbank, 2.00%, May 24, 2023 310 311 5.38%, Apr 23, 2024 196 207 1,875 1,850 1,450 1,490 Philippines 1.7% Colombia 1.5% PHP 24,500 Philippine Government Bond, USD 200 Colombia Government International Bond, 3.50%, Mar 20, 2021 598 592 4.00%, Feb 26, 2024 258 271 PHP 6,040 Philippine Government Bond, USD 200 Colombia Government International Bond, 4.00%, Jan 26, 2022 148 145 4.50%, Jan 28, 2026 269 274 PHP 12,670 Philippine Government Bond, COP 466,700 Colombian TES, 3.50%, Apr 21, 2023 303 287 7.00%, Sep 11, 2019 201 199 PHP 12,700 Philippine Government Bond, COP 641,500 Colombian TES, 4.13%, Aug 20, 2024 309 286 11.00%, Jul 24, 2020 297 294 PHP 12,935 Philippine Government Bond, COP 984,000 Colombian TES, 8.00%, Jul 19, 2031 384 363 7.00%, May 04, 2022 463 432 1,742 1,673 1,488 1,470 Singapore 1.6% Luxembourg 1.4% USD 200 BOC Aviation Ltd., EUR 100 Allergan Funding SCS, 2.75%, Sep 18, 2022 251 263 1.25%, Jun 01, 2024 151 153 EUR 95 European Financial Stability Facility, 0.50%, Jan 20, 2023 149 152

The accompanying notes are an integral part of the financial statements.

131 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) EUR 130 European Financial Stability Facility, Sweden 0.5% 1.88%, May 23, 2023 216 220 EUR 325 Sweden Government International Bond, EUR 240 European Financial Stability Facility, 0.13%, Apr 24, 2023 493 513 0.13%, Oct 17, 2023 364 376 Austria 0.3% USD 32 SS&C Technologies Holdings Europe Sarl, EUR 190 Republic of Austria Government Bond, 5.03%, Apr 16, 2025 41 41 zero coupon, Jul 15, 2023 289 299 BRL 1,450 Swiss Insured Brazil Power Finance Sarl, 9.85%, Jul 16, 2032 546 513 Finland 0.3% EUR 175 Finland Government Bond, 1,467 1,455 1.50%, Apr 15, 2023 288 294 New Zealand 1.4% Hong Kong 0.3% NZD 165 New Zealand Government Bond, USD 200 CNAC HK Finbridge Co. Ltd., 5.00%, Mar 15, 2019 146 152 4.63%, Mar 14, 2023 259 276 NZD 220 New Zealand Government Bond, 3.00%, Apr 15, 2020 193 205 Cayman Islands 0.2% NZD 520 New Zealand Government Bond, USD 185 Sable International Finance Ltd., 6.00%, May 15, 2021 515 524 6.03%, Jan 31, 2026 232 245 NZD 180 New Zealand Local Government Funding Chile 0.2% Agency Bond, EUR 135 Chile Government International Bond, 2.75%, Apr 15, 2025 150 164 1.44%, Feb 01, 2029 207 207 NZD 63 New Zealand Local Government Funding Bermuda 0.2% Agency Ltd., USD 120 IHS Markit Ltd., 2.75%, Apr 14, 2022 59 59 4.75%, Aug 01, 2028 158 161 NZD 260 New Zealand Local Government Funding Agency Ltd., Marshall Islands 0.1% 5.50%, Apr 15, 2023 256 267 USD 110 Teekay Offshore Partner LP/Teekay Offshore Finance Corp., 1,319 1,371 8.50%, Jul 15, 2023 146 147 Hungary 1.0% France 0.1% USD 330 Hungary Government International Bond, EUR 40 Altran Technologies SA, 6.25%, Jan 29, 2020 441 464 2.75%, Mar 20, 2025 62 62 USD 406 Hungary Government International Bond, EUR 35 Crown European Holdings SA, 6.38%, Mar 29, 2021 561 586 2.38%, Apr 03, 2025 53 55 1,002 1,050 115 117 Great Britain 0.6% 95,097 95,767 USD 200 HSBC Holdings PLC, 6.00%, Dec 31, 2049 266 247 EQUITIES 3.3% USD 119 Travelport Corporate Finance PLC, United States 3.3% 6.00%, Mar 15, 2026 153 164 3,950 Becton Dickinson and Co., Preferred USD 200 Vedanta Resources PLC, 6.13%, Series A 295 311 6.38%, Jul 30, 2022 264 245 150 Crown Castle International Corp., Preferred 6.88%, Series A 210 216 683 656 5,950 Dominion Resources, Inc., Preferred Portugal 0.6% 6.75%, Series A 391 389 USD 180 Portugal Government International Bond, 800 DTE Energy Co., Preferred 6.50% 57 56 5.13%, Oct 15, 2024 244 258 70 Fortive Corp., Preferred 5.00%, Series A, EUR 175 Portugal Obrigacoes do Tesouro OT, Expiry Jul 1, 2021 94 87 3.85%, Apr 15, 2021 298 299 3,650 Hess Corp., Preferred 8.00% 323 248 7,550 NextEra Energy, Inc., Preferred 6.12% 559 594 542 557 7,025 People’s United Financial, Inc., Preferred India 0.5% 5.63%, Series A 244 213 USD 200 Adani Ports & Special Economic Zone Ltd., 900 Stanley Black & Decker, Inc., Preferred 4.00%, Jul 30, 2027 251 244 5.38% 136 112 USD 200 NTPC Ltd., 280 U.S. Bancorp, Preferred 3.50%, Series A 318 285 4.38%, Nov 26, 2024 270 269 5,475 U.S. Bancorp, Preferred 6.50%, Series F 199 198 521 513 5,750 U.S. Bancorp, Preferred 5.50%, Series K 187 194 5,725 Wells Fargo & Co., Preferred 5.85%, Series Q 199 192

The accompanying notes are an integral part of the financial statements.

132 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 5,350 Zions Bancorporation, Preferred 6.95% 199 206 3,411 3,301 Total Investments 98,508 99,068 Derivative assets 1.1% 1,116 Derivative liabilities (4.8%) (4,848) Other assets less liabilities 5.4% 5,436 Net assets attributable to unitholders 100.0% 100,772

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by Category December 31, 2018 December 31, 2017

Bonds United States 52.8 52.6 Canada 5.7 6.5 Indonesia 3.9 2.8 Mexico 3.5 5.4 Supranational 2.7 3.5 Brazil 2.5 0.9 Australia 2.4 3.4 Ireland 2.2 - Netherlands 2.0 1.0 Norway 1.8 1.0 Philippines 1.7 2.4 Singapore 1.6 2.5 Malaysia 1.5 0.7 Germany 1.5 1.1 Colombia 1.5 0.6 Luxembourg 1.4 - New Zealand 1.4 3.5 Hungary 1.0 - Great Britain 0.6 0.5 Portugal 0.6 0.2 India 0.5 0.5 Sweden 0.5 - Austria 0.3 - Finland 0.3 - Hong Kong 0.3 - Cayman Islands 0.2 - Chile 0.2 - Bermuda 0.2 - Marshall Islands 0.1 - France 0.1 - Belgium - 0.4 Equities United States 3.3 4.6 Short-Term Investments - 1.1 Derivative assets 1.1 1.8 Derivative liabilities (4.8) (0.1) Other assets less liabilities 5.4 3.1 100.0 100.0

The accompanying notes are an integral part of the financial statements.

133 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND

FORWARD FOREIGN CURRENCY CONTRACTS (3.7%) Purchased currency Sold currency Valueasat Valueasat Unrealized Counter- Settlement December 31, 2018 December 31, 2018 gain/loss party credit Contract price date Currency ($) (’000) Currency ($) (’000) ($) (’000) Counterparty rating USD 0.77561 Feb 13, 2019 USD 1,962 CAD 1,854 108 Canadian Imperial Bank of Commerce A+ USD 0.77505 Feb 13, 2019 USD 1,962 CAD 1,855 107 Royal Bank of Canada AA- USD 0.78227 Feb 13, 2019 USD 1,572 CAD 1,473 99 Citibank N.A. A+ USD 0.77387 Feb 13, 2019 USD 1,319 CAD 1,249 70 Bank of Montreal A+ EUR 0.66022 Feb 13, 2019 EUR 2,092 CAD 2,025 67 State Street Bank and Trust Company AA- USD 0.77634 Feb 13, 2019 USD 1,177 CAD 1,111 66 Bank of Montreal A+ USD 0.77370 Feb 13, 2019 USD 977 CAD 925 52 Toronto Dominion Bank AA- USD 0.77345 Feb 13, 2019 USD 977 CAD 926 51 Morgan Stanley Capital Services LLC A+ USD 0.77495 Feb 13, 2019 USD 785 CAD 742 43 Toronto Dominion Bank AA- USD 0.77373 Feb 13, 2019 USD 782 CAD 741 41 Royal Bank of Canada AA- EUR 0.66825 Feb 13, 2019 EUR 894 CAD 855 39 Royal Bank of Canada AA- USD 0.77624 Feb 13, 2019 USD 624 CAD 589 35 Royal Bank of Canada AA- EUR 0.64878 Feb 13, 2019 EUR 1,922 CAD 1,893 29 Toronto Dominion Bank AA- EUR 0.65007 Feb 13, 2019 EUR 1,376 CAD 1,352 24 Royal Bank of Canada AA- EUR 0.65003 Feb 13, 2019 EUR 1,376 CAD 1,353 23 Morgan Stanley Capital Services LLC A+ USD 0.77423 Feb 13, 2019 USD 440 CAD 417 23 Canadian Imperial Bank of Commerce A+ EUR 0.64902 Feb 13, 2019 EUR 1,442 CAD 1,420 22 Goldman Sachs Bank USA A+ USD 0.77354 Feb 13, 2019 USD 391 CAD 370 21 Citibank N.A. A+ USD 0.77356 Feb 13, 2019 USD 382 CAD 362 20 Citibank N.A. A+ USD 0.77360 Feb 13, 2019 USD 382 CAD 362 20 Citibank N.A. A+ EUR 0.66457 Feb 13, 2019 EUR 497 CAD 478 19 State Street Bank and Trust Company AA- MXN 15.32424 Feb 13, 2019 MXN 304 CAD 288 16 JP Morgan Chase Bank N.A. A- GBP 0.58306 Feb 13, 2019 GBP 1,016 CAD 1,001 15 Bank of Nova Scotia A+ MXN 15.30762 Feb 13, 2019 MXN 256 CAD 243 13 Royal Bank of Canada AA- CAD 0.16130 Feb 13, 2019 CAD 542 NOK 530 12 Toronto Dominion Bank AA- NZD 1.17378 Feb 13, 2019 NZD 161 CAD 150 11 U.S. Bank AA- USD 0.74683 Feb 13, 2019 USD 480 CAD 471 9 Citibank N.A. A+ EUR 0.66038 Feb 13, 2019 EUR 232 CAD 224 8 Goldman Sachs Bank USA A+ MXN 15.07088 Feb 13, 2019 MXN 213 CAD 205 8 JP Morgan Chase Bank N.A. A- MXN 14.90823 Feb 13, 2019 MXN 254 CAD 247 7 JP Morgan Chase Bank N.A. A- MXN 15.01785 Feb 13, 2019 MXN 214 CAD 207 7 Morgan Stanley Capital Services LLC A+ MXN 15.03960 Feb 13, 2019 MXN 213 CAD 206 7 Morgan Stanley Capital Services LLC A+ MXN 14.83716 Feb 13, 2019 MXN 329 CAD 322 7 Citibank N.A. A+ MXN 15.23428 Feb 13, 2019 MXN 92 CAD 88 4 Royal Bank of Canada AA- MXN 15.13793 Feb 13, 2019 MXN 107 CAD 103 4 JP Morgan Chase Bank N.A. A- USD 0.74691 Feb 13, 2019 USD 222 CAD 218 4 Morgan Stanley Capital Services LLC A+ MXN 14.82510 Feb 13, 2019 MXN 149 CAD 146 3 Toronto Dominion Bank AA- CAD 0.16129 Feb 13, 2019 CAD 108 NOK 106 2 JP Morgan Chase Bank N.A. A- MXN 14.52617 Feb 13, 2019 MXN 154 CAD 154 - Morgan Stanley Capital Services LLC A+ Derivative assets 1,116 CAD 0.15700 Feb 13, 2019 CAD 76 NOK 76 - Canadian Imperial Bank of Commerce A+ CAD 1.56353 Feb 13, 2019 CAD 94 EUR 94 - Toronto Dominion Bank AA- MXN 14.51398 Feb 13, 2019 MXN 177 CAD 177 - Morgan Stanley Capital Services LLC A+ CAD 0.15697 Feb 13, 2019 CAD 75 NOK 75 - Toronto Dominion Bank AA- CAD 0.15765 Feb 13, 2019 CAD 611 NOK 612 (1) Barclays Bank PLC A CAD 1.54251 Feb 13, 2019 CAD 139 EUR 141 (2) Toronto Dominion Bank AA- CAD 0.06660 Feb 13, 2019 CAD 96 MXN 99 (3) Citibank N.A. A+ CAD 0.91585 Feb 13, 2019 CAD 99 AUD 104 (5) Toronto Dominion Bank AA- CAD 0.83462 Feb 13, 2019 CAD 46 NZD 51 (5) Citibank N.A. A+ CAD 0.92622 Feb 13, 2019 CAD 144 AUD 149 (5) Royal Bank of Canada AA- CAD 1.50578 Feb 13, 2019 CAD 128 EUR 133 (5) Morgan Stanley Capital Services LLC A+ CAD 0.96534 Feb 13, 2019 CAD 149 SGD 155 (6) HSBC Securities USA Inc. AA- CAD 1.51027 Feb 13, 2019 CAD 179 EUR 186 (7) Toronto Dominion Bank AA- CAD 1.50670 Feb 13, 2019 CAD 234 EUR 243 (9) Citibank N.A. A+ CAD 1.50675 Feb 13, 2019 CAD 234 EUR 243 (9) Morgan Stanley Capital Services LLC A+ CAD 1.34678 Feb 13, 2019 CAD 693 USD 702 (9) Morgan Stanley Capital Services LLC A+ CAD 1.52342 Feb 13, 2019 CAD 445 EUR 457 (12) Citibank N.A. A+ CAD 1.50974 Feb 13, 2019 CAD 460 EUR 477 (17) Morgan Stanley Capital Services LLC A+ CAD 1.71019 Feb 13, 2019 CAD 998 GBP 1,016 (18) Standard Chartered Bank A CAD 1.29837 Feb 13, 2019 CAD 358 USD 376 (18) Toronto Dominion Bank AA- CAD 1.50575 Feb 13, 2019 CAD 468 EUR 486 (18) Morgan Stanley Capital Services LLC A+ CAD 1.50673 Feb 13, 2019 CAD 468 EUR 486 (18) JP Morgan Chase Bank N.A. A- CAD 1.50600 Feb 13, 2019 CAD 468 EUR 486 (18) Citibank N.A. A+

The accompanying notes are an integral part of the financial statements.

134 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT STRATEGIC INCOME (EX TOBACCO AND MARIJUANA) POOLED FUND

The accompanying notes are an integral part of the financial statements.

135 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 5,263 1,450 Investments, at fair value 135,909 30,022 Foreign exchange gain (loss) on income 47 (12) Cash 291 238 Foreign exchange gain (loss) on currency 35 (47) Receivable from investments sold - 126 Realized gain (loss) on sales of investments 2,076 665 Interest, dividends and other receivables 1,758 403 Realized gain (loss) on derivatives 299 3 Change in unrealized appreciation (depreciation) in Derivative assets 31 6 the value of investments (338) (545) 137,989 30,795 Change in unrealized appreciation (depreciation) in Liabilities the value of derivatives 3 6 Current liabilities 7,385 1,520 Redemptions payable 2 - Expenses Accrued expenses and other liabilities 13 11 Audit fees 5 6 Derivative liabilities 22 - Transfer agent fees 3 4 37 11 Interest expense & bank charges 4 - Unitholder reporting costs 25 9 Net assets attributable to unitholders 137,952 30,784 Custodial fees 8 9 Net assets attributable to unitholders per unit Foreign withholding taxes 32 4 9.89 9.97 77 32 Increase (decrease) in net assets attributable to unitholders 7,308 1,488 Increase (decrease) in net assets attributable to unitholders per unit 0.71 0.49

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 30,784 30,296 Increase (decrease) in net assets attributable to unitholders 7,308 1,488 Distribution to unitholders from: Net investment income (5,516) (1,495) Net realized gains (262) -

Total distributions to unitholders (5,778) (1,495)

Security transactions Proceeds from units issued 135,389 - Reinvestments of distributions to unitholders 5,778 1,495 Redemption of units (35,529) (1,000)

Total security transactions 105,638 495

Net assets attributable to unitholders - end of year 137,952 30,784

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 3,089 3,033 Units issued 13,849 - Units issued for reinvestment of distributions 584 150 Units redeemed (3,575) (94)

Units outstanding end of year 13,947 3,089

The accompanying notes are an integral part of the financial statements.

136 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 83.1% Increase (decrease) in net assets attributable to Mexico 8.9% unitholders 7,308 1,488 USD 200 Alpek SAB de CV, Adjustments for: 4.50%, Nov 20, 2022 262 269 Change in unrealized foreign exchange gain (loss) MXN 9,770 America Movil SAB de CV, on currency (73) 6 7.13%, Dec 09, 2024 611 593 Realized gain (loss) on sales of investments (2,076) (665) USD 200 Banco Nacional de Comercio Exterior SNC, Realized gain (loss) on derivatives (299) (3) 4.38%, Oct 14, 2025 261 262 Change in unrealized appreciation (depreciation) in USD 800 Banco Nacional de Comercio Exterior SNC, the value of investments 338 545 3.80%, Aug 11, 2026 1,000 1,046 Change in unrealized appreciation (depreciation) in USD 150 BBVA Bancomer SA, the value of derivatives (3) (6) 6.50%, Mar 10, 2021 208 213 Purchases of investments (93,431)* (14,988) USD 500 Controladora Mabe SA de CV, Proceeds from disposition of investments 38,316 14,864 5.60%, Oct 23, 2028 648 643 Interest, dividends and other receivables (1,355) (5) USD 890 Credito Real SAB de CV SOFOM ER, Accrued expenses and other liabilities 2 5 7.25%, Jul 20, 2023 1,186 1,181 USD 1,000 Cydsa SAB de CV, Net cash provided by (used in) operating 6.25%, Oct 04, 2027 1,250 1,234 activities (51,273) 1,241 USD 750 Mexichem SAB de CV, Cash flows from financing activities 6.75%, Sep 19, 2042 1,039 1,032 Proceeds from sale of units 86,780* - USD 200 Mexichem SAB de CV, Payments for units redeemed (35,527) (1,000) 5.88%, Sep 17, 2044 237 247 Net cash provided by (used in) financing USD 300 Mexico City Airport Trust, activities 51,253 (1,000) 3.88%, Apr 30, 2028 346 362 USD 1,280 Mexico City Airport Trust, Change in unrealized foreign exchange gain (loss) 5.50%, Oct 31, 2046 1,489 1,547 on currency 73 (6) USD 200 Mexico City Airport Trust, Net increase (decrease) in cash (20) 241 5.50%, Jul 31, 2047 243 241 Cash (bank overdraft) beginning of year 238 3 USD 1,270 Petroleos Mexicanos, Cash (bank overdraft) end of year 291 238 6.63%, Jun 15, 2035 1,635 1,523 USD 250 Trust F/1401, Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 3,875 1,429 5.25%, Dec 15, 2024 322 329 Dividends received, net of foreign withholding taxes 1 - USD 1,250 Trust F/1401, Interest paid 4 - 6.95%, Jan 30, 2044 1,634 1,622 * Excludes in-kind transactions. 12,371 12,344 Netherlands 7.6% USD 2,070 Braskem Netherlands Finance BV, 4.50%, Jan 10, 2028 2,541 2,624 USD 400 GTH Finance BV, 7.25%, Apr 26, 2023 547 561 USD 500 Kazakhstan Temir Zholy Finance BV, 6.95%, Jul 10, 2042 732 717 USD 900 Listrindo Capital BV, 4.95%, Sep 14, 2026 1,087 1,096 USD 400 Myriad International Holdings BV, 5.50%, Jul 21, 2025 559 552 USD 300 Myriad International Holdings BV, 4.85%, Jul 06, 2027 380 394 USD 1,567 Petrobras Global Finance BV, 6.85%, Jun 05, 2115 1,849 1,920 USD 300 VEON Holdings BV, 7.50%, Mar 01, 2022 409 446 USD 1,700 VEON Holdings BV, 4.95%, Jun 16, 2024 2,082 2,229 10,186 10,539

The accompanying notes are an integral part of the financial statements.

137 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) Peru 6.8% USD 1,250 Hidrovias International Finance SARL, USD 741 ABY Transmision Sur SA, 5.95%, Jan 24, 2025 1,560 1,560 6.88%, Apr 30, 2043 1,023 1,120 USD 1,075 Klabin Finance SA, USD 500 Banco de Credito del Peru, 4.88%, Sep 19, 2027 1,309 1,336 4.25%, Apr 01, 2023 645 680 USD 500 Millicom International Cellular SA, USD 300 Banco de Credito del Peru, FRN 6.63%, Oct 15, 2026 653 692 6.13%, Apr 24, 2027 415 429 USD 1,000 Millicom International Cellular SA, USD 400 BBVA Banco Continental SA, 5.13%, Jan 15, 2028 1,218 1,222 5.00%, Aug 26, 2022 533 556 USD 500 MOL Group Finance SA, USD 200 BBVA Banco Continental SA, 6.25%, Sep 26, 2019 667 696 5.25%, Sep 22, 2029 266 278 USD 400 Russian Agricultural Bank OJSC Via RSHB USD 1,500 Inretail Pharma SA, Capital SA, 5.38%, May 02, 2023 1,941 2,063 8.50%,Oct 16, 2023 582 550 USD 570 Kallpa Generacion SA, USD 500 Severstal OAO Via Steel Capital SA, 4.88%, May 24, 2026 729 760 5.90%, Oct 17, 2022 674 701 USD 200 Petroleos del Peru SA, USD 200 Severstal OAO Via Steel Capital SA, Private 4.75%, Jun 19, 2032 255 263 Placement USD 790 Petroleos del Peru SA, 5.90%, Oct 17, 2022 282 280 5.63%, Jun 19, 2047 997 1,058 8,358 8,526 USD 825 SAN Miguel Industrias Pet SA, 4.50%, Sep 18, 2022 1,056 1,090 Cayman Islands 4.6% USD 816 Volcan Cia Minera SAA, USD 815 CK Hutchison International 17 II Ltd., 5.38%, Feb 02, 2022 1,083 1,117 3.25%, Sep 29, 2027 973 1,055 USD 800 Comunicaciones Celulares SA Via Comcel 8,943 9,414 Trust, Argentina 6.5% 6.88%, Feb 06, 2024 1,048 1,116 USD 2,411 Argentine Republic Government USD 550 Grupo Aval Ltd., International Bond, 4.75%, Sep 26, 2022 704 703 8.28%, Dec 31, 2033 3,251 2,585 USD 200 HPHT Finance 15 Ltd., USD 1,300 Argentine Republic Government 2.88%, Mar 17, 2020 257 271 International Bond, USD 450 Odebrecht Finance Ltd., 7.63%, Apr 22, 2046 1,598 1,294 5.25%, Jun 27, 2029 240 87 USD 600 Cablevision SA, USD 125 Odebrecht Finance Ltd., 6.50%, Jun 15, 2021 802 794 7.50%, Sep 29, 2049 47 26 USD 200 Provincia de Buenos Aires, USD 46 Odebrecht Offshore Drilling Finance Ltd., 9.95%, Jun 09, 2021 287 258 6.72%, Dec 01, 2022 56 58 USD 1,000 Provincia de Buenos Aires, USD 170 Odebrecht Offshore Drilling Finance Ltd., 9.13%, Mar 16, 2024 1,316 1,137 7.72%, Dec 01, 2026 73 62 USD 450 Provincia de Buenos Aires, USD 26 Odebrecht Oil & Gas Finance Ltd., 7.88%, Jun 15, 2027 557 446 zero coupon, Dec 31, 2099 1 1 USD 150 Provincia de Buenos Aires, Private USD 250 Saudi Electricity Global Sukuk Co. 3, Placement 4.00%, Apr 08, 2024 326 337 7.88%, Jun 15, 2027 202 149 USD 700 Three Gorges Finance I Cayman Islands USD 1,000 Transportadora de Gas del Sur SA, Ltd., 6.75%, May 02, 2025 1,284 1,248 3.15%, Jun 02, 2026 859 904 USD 200 YPF SA, USD 1,090 Vale Overseas Ltd., 8.50%, Mar 23, 2021 283 271 6.88%, Nov 21, 2036 1,633 1,710 USD 200 YPF SA, 6,217 6,330 8.75%, Apr 04, 2024 288 257 USD 400 YPF SA, Indonesia 4.4% 8.50%, Jul 28, 2025 573 492 USD 600 Chandra Asri Petrochemical Tbk PT, 4.95%, Nov 08, 2024 686 715 10,441 8,931 USD 200 Pelabuhan Indonesia III Persero PT, Luxembourg 6.2% 4.88%, Oct 01, 2024 254 269 USD 400 Evraz Group SA, 6.75%, Jan 31, 2022 556 569 USD 650 Gazprom Neft OAO Via GPN Capital SA, 6.00%, Nov 27, 2023 857 920

The accompanying notes are an integral part of the financial statements.

138 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) USD 1,810 Pertamina Persero PT, USD 742 Egypt Government International Bond, 6.00%, May 03, 2042 2,365 2,473 6.88%, Apr 30, 2040 881 820 USD 1,802 Pertamina Persero PT, USD 1,100 Egypt Government International Bond, 6.45%, May 30, 2044 2,607 2,578 7.90%, Feb 21, 2048 1,429 1,298 5,912 6,035 3,581 3,365 Turkey 4.3% Bermuda 2.4% USD 400 Anadolu Efes Biracilik Ve Malt Sanayii AS, USD 200 China Oil & Gas Group Ltd., 3.38%, Nov 01, 2022 496 506 5.00%, May 07, 2020 259 272 USD 600 Arcelik AS, USD 990 China Oil & Gas Group Ltd., 5.00%, Apr 03, 2023 752 747 4.63%, Apr 20, 2022 1,197 1,283 USD 400 Export Credit Bank of Turkey, USD 400 Inkia Energy Ltd., 5.38%, Feb 08, 2021 498 529 5.88%, Nov 09, 2027 488 508 USD 1,500 Export Credit Bank of Turkey, USD 600 Ooredoo International Finance Ltd., 5.00%, Sep 23, 2021 1,823 1,947 5.00%, Oct 19, 2025 822 849 USD 260 Mersin Uluslararasi Liman Isletmeciligi AS, USD 325 Qatar Reinsurance Co., Ltd., 5.88%, Aug 12, 2020 345 355 4.95%, Dec 31, 2099 410 423 USD 900 Turkcell Iletisim Hizmetleri AS, 3,176 3,335 5.75%, Oct 15, 2025 1,133 1,125 USD 200 Turkcell Iletisim Hizmetleri AS, Private Colombia 1.8% Placement USD 1,150 Ecopetrol SA, 5.75%, Oct 15, 2025 274 250 5.88%, May 28, 2045 1,436 1,489 USD 400 Turkiye Is Bankasi AS, USD 770 Oleoducto Central SA, 5.00%, Jun 25, 2021 516 500 4.00%, May 07, 2021 989 1,038 5,837 5,959 2,425 2,527 Thailand 3.0% Chile 1.7% USD 200 GC Treasury Center Co., Ltd., USD 600 Colbun SA, 4.25%, Sep 19, 2022 265 277 3.95%, Oct 11, 2027 732 757 USD 250 PTT PCL, USD 182 Empresa Electrica Angamos SA, 4.50%, Oct 25, 2042 318 321 4.88%, May 25, 2029 235 239 USD 1,700 PTTEP Treasury Center Co., Ltd., USD 200 Enel Americas SA, 4.60%, Dec 31, 2099 2,127 2,198 4.00%, Oct 25, 2026 255 256 USD 1,000 Thaioil Treasury Center Co., Ltd., USD 200 SACI Falabella, 5.38%, Nov 20, 2048 1,307 1,380 4.38%, Jan 27, 2025 263 267 USD 600 Sociedad Quimica y Minera de Chile SA, 4,017 4,176 3.63%, Apr 03, 2023 753 791 Great Britain 3.0% 2,238 2,310 USD 1,040 Liquid Telecommunications Financing PLC, 8.50%, Jul 13, 2022 1,408 1,436 Iraq 1.4% USD 200 Vedanta Resources PLC, USD 400 Iraq International Bond, 8.25%, Jun 07, 2021 282 271 6.75%, Mar 09, 2023 518 522 USD 1,310 Vedanta Resources PLC, USD 872 Iraq International Bond, 6.38%, Jul 30, 2022 1,707 1,606 5.80%, Jan 15, 2028 1,051 1,071 USD 650 Vedanta Resources PLC, USD 320 Iraq International Bond, Private Placement 7.13%, May 31, 2023 834 801 5.80%, Jan 15, 2028 401 393 4,231 4,114 1,970 1,986 Brazil 2.6% Dominican Republic 1.4% USD 1,250 Banco BTG Pactual SA, USD 400 Aeropuertos Dominicanos Siglo XXI SA, 5.75%, Sep 28, 2022 1,571 1,652 6.75%, Mar 30, 2029 570 527 USD 1,450 Natura Cosmeticos SA, USD 500 Dominican Republic International Bond, 5.38%, Feb 01, 2023 1,851 1,988 6.88%, Jan 29, 2026 721 718 USD 500 Dominican Republic International Bond, 3,422 3,640 7.45%, Apr 30, 2044 697 712 Egypt 2.4% 1,988 1,957 USD 1,000 Egypt Government International Bond, 5.88%, Jun 11, 2025 1,271 1,247

The accompanying notes are an integral part of the financial statements.

139 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) Ghana 1.3% United Arab Emirates 0.8% USD 200 Ghana Government Bond, USD 250 Abu Dhabi National Energy Co. PJSC, 8.13%, Jan 18, 2026 278 262 3.63%, Jan 12, 2023 320 335 USD 220 Ghana Government International Bond, USD 550 ACWA Power Management and 9.25%, Sep 15, 2022 320 333 Investments One Ltd., USD 870 Ghana Government International Bond, 5.95%, Dec 15, 2039 715 708 8.13%, Jan 18, 2026 1,175 1,138 1,035 1,043 1,773 1,733 Panama 0.8% Paraguay 1.1% USD 830 Banco General SA, USD 200 Paraguay Government International Bond, 4.13%, Aug 07, 2027 1,007 1,042 4.63%, Jan 25, 2023 264 275 Singapore 0.7% USD 900 Telefonica Celular del Paraguay SA, USD 800 Medco Platinum Road Pte Ltd., 6.75%, Dec 13, 2022 1,190 1,244 6.75%, Jan 30, 2025 917 937 1,454 1,519 Mauritius 0.7% Costa Rica 1.0% USD 750 MTN Mauritius Investment Ltd., USD 400 Banco Nacional de Costa Rica, 4.76%, Nov 11, 2024 934 935 6.25%, Nov 01, 2023 536 517 Angola 0.6% USD 900 Instituto Costarricense de Electricidad, USD 600 Angolan Government International Bond, 6.38%, May 15, 2043 1,002 897 9.50%, Nov 12, 2025 863 865 1,538 1,414 Hong Kong 0.5% Ireland 1.0% USD 500 CNAC HK Finbridge Co., Ltd., USD 800 Mobile Telesystems OJSC via MTS 4.88%, Mar 14, 2025 648 690 International Funding Ltd., Canada 0.5% 5.00%, May 30, 2023 1,037 1,068 USD 200 PTTEP Canada International Finance Ltd., USD 200 Sibur Securities DAC, 5.69%, Apr 05, 2021 276 286 4.13%, Oct 05, 2023 249 262 USD 260 St Marys Cement, Inc., 1,286 1,330 5.75%, Jan 28, 2027 341 352 Israel 0.9% 617 638 USD 400 Israel Electric Corp. Ltd., El Salvador 0.5% 6.88%, Jun 21, 2023 565 596 USD 500 El Salvador Government International USD 500 Israel Electric Corp., Ltd., Bond, 5.00%,Nov 12, 2024 684 690 6.38%, Jan 18, 2027 652 628 1,249 1,286 Croatia 0.4% British Virgin Islands 0.9% USD 400 Hrvatska Elektroprivreda, USD 250 CNPC General Capital Ltd., 5.88%, Oct 23, 2022 562 570 3.40%, Apr 16, 2023 320 338 United States 0.4% USD 700 State Grid Overseas Investment 2016 Ltd., USD 400 Pan American Energy LLC, 3.50%, May 04, 2027 877 922 7.88%, May 07, 2021 552 550 1,197 1,260 Supranational 0.4% China 0.9% USD 400 Banque Ouest Africaine de USD 250 Bank of China Ltd., Developpement, 5.00%, Nov 13, 2024 336 353 5.00%, Jul 27, 2027 522 514 USD 300 The Export-Import Bank of China, Honduras 0.3% 2.88%, Apr 26, 2026 358 383 USD 300 Honduras Government International Bond, USD 400 The Export-Import Bank of China, 6.25%, Jan 19, 2027 411 407 3.25%, Nov 28, 2027 492 515 Kazakhstan 0.2% 1,186 1,251 USD 200 Kazakhstan Government International Bond, 5.13%, Jul 21, 2025 283 290

The accompanying notes are an integral part of the financial statements.

140 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED FUND FUND

CONCENTRATION RISK PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE The following table summarizes the Fund’s concentration risk. NO. OF UNITS NAME ($) (’000) ($) (’000) % of net assets attributable to Isle Of Man 0.2% unitholders USD 200 AngloGold Ashanti Holdings PLC, Portfolio by Category December 31, 2018 December 31, 2017 5.13%, Aug 01, 2022 269 276 Bonds 114,268 114,666 Mexico 8.9 13.2 Netherlands 7.6 7.3 SHORT-TERM INVESTMENTS 15.3% Peru 6.8 5.6 USD 15,495 State Street Co. Can US Dollar Call Argentina 6.5 9.5 Deposit, Luxembourg 6.2 5.2 0.42%, Jan 03, 2019 20,057 21,164 Cayman Islands 4.6 5.1 20,057 21,164 Indonesia 4.4 3.9 Turkey 4.3 4.1 EQUITIES 0.1% Thailand 3.0 2.8 Canada 0.1% Great Britain 3.0 2.7 5,946 Frontera Energy Corp. 123 79 Brazil 2.6 1.2 123 79 Egypt 2.4 0.8 Bermuda 2.4 0.8 Total Investments 134,448 135,909 Colombia 1.8 2.3 Derivative assets 0.0% 31 Chile 1.7 2.5 Derivative liabilities (0.0%) (22) Iraq 1.4 1.8 Other assets less liabilities 1.5% 2,034 Dominican Republic 1.4 2.1 Ghana 1.3 1.0 Net assets attributable to Paraguay 1.1 1.7 unitholders 100.0% 137,952 Costa Rica 1.0 1.8 Ireland 1.0 1.7 Israel 0.9 1.3 British Virgin Islands 0.9 1.8 China 0.9 1.1 United Arab Emirates 0.8 1.0 Panama 0.8 1.0 Singapore 0.7 - Mauritius 0.7 1.2 Angola 0.6 0.9 Hong Kong 0.5 - Canada 0.5 0.9 El Salvador 0.5 1.0 Croatia 0.4 0.9 United States 0.4 - Supranational 0.4 0.8 Honduras 0.3 0.7 Kazakhstan 0.2 0.9 Isle Of Man 0.2 0.9 Azerbaijan - 0.8 India - 1.0 Plurinational State of Bolivia - 0.9 Bahrain - 0.8 Short-Term Investments 15.3 2.3 Equities Canada 0.1 0.2 Other assets less liabilities 1.5 2.5 100.0 100.0

The accompanying notes are an integral part of the financial statements.

141 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS CORPORATE DEBT POOLED FUND

The accompanying notes are an integral part of the financial statements.

142 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS LOCAL CURRENCY DEBT MANULIFE ASSET MANAGEMENT EMERGING MARKETS LOCAL CURRENCY DEBT POOLED FUND POOLED FUND

Assets Income Current assets Interest for distribution purposes 1,110 1,209 Investments, at fair value 15,526 15,631 Foreign exchange gain (loss) on income (26) (4) Cash 246 65 Foreign exchange gain (loss) on currency - (63) Receivable from Manager - 22 Realized gain (loss) on sales of investments (2) 95 Interest, dividends and other receivables 390 408 Realized gain (loss) on derivatives (44) 37 Change in unrealized appreciation (depreciation) in Derivative assets 11 4 the value of investments (943) 48 16,173 16,130 Change in unrealized appreciation (depreciation) in Liabilities the value of derivatives (2) 4 Current liabilities 93 1,326 Accrued expenses and other liabilities 13 12 Expenses Derivative liabilities 9 - Audit fees 5 5 22 12 Transfer agent fees 3 4 Unitholder reporting costs 6 6 Net assets attributable to unitholders 16,151 16,118 Custodial fees 28 24 Net assets attributable to unitholders per unit Foreign withholding taxes 20 28 9.92 9.91 62 67 Less operating expenses absorbed by manager (2) (22) Net operating expenses 60 45 Increase (decrease) in net assets attributable to unitholders 33 1,281 Increase (decrease) in net assets attributable to unitholders per unit 0.02 0.77

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 16,118 16,837 Increase (decrease) in net assets attributable to unitholders 33 1,281 Distribution to unitholders from: Net investment income (22) (1,286)

Total distributions to unitholders (22) (1,286)

Security transactions Reinvestments of distributions to unitholders 22 1,286 Redemption of units - (2,000)

Total security transactions 22 (714)

Net assets attributable to unitholders - end of year 16,151 16,118

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 1,626 1,684 Units issued - - Units issued for reinvestment of distributions 2 130 Units redeemed - (188)

Units outstanding end of year 1,628 1,626

The accompanying notes are an integral part of the financial statements.

143 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS LOCAL CURRENCY DEBT MANULIFE ASSET MANAGEMENT EMERGING MARKETS LOCAL CURRENCY DEBT POOLED FUND POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities BONDS 96.1% Increase (decrease) in net assets attributable to Brazil 13.7% unitholders 33 1,281 BRL 3,000 Brazil Notas do Tesouro Nacional, Series F Adjustments for: 10.00%, Jan 01, 2021 849 1,106 Change in unrealized foreign exchange gain (loss) BRL 1,000 Brazil Notas do Tesouro Nacional, Series F on currency (16) 12 10.00%, Jan 01, 2023 374 369 Realized gain (loss) on sales of investments 2 (95) BRL 1,000 Brazil Notas do Tesouro Nacional, Series F Realized gain (loss) on derivatives 44 (37) 10.00%, Jan 01, 2025 256 368 Change in unrealized appreciation (depreciation) in BRL 1,000 Brazil Notas do Tesouro Nacional, Series F the value of investments 943 (48) 10.00%, Jan 01, 2027 346 369 Change in unrealized appreciation (depreciation) in 1,825 2,212 the value of derivatives 2 (4) Purchases of investments (2,077) (641) South Africa 12.9% Proceeds from disposition of investments 1,193 1,370 ZAR 7,800 Republic of South Africa Government Receivable from Manager 22 (6) Bond, Interest, dividends and other receivables 18 28 7.75%, Feb 28, 2023 635 732 Accrued expenses and other liabilities 1 9 ZAR 15,658 Republic of South Africa Government Bond, Net cash provided by (used in) operating 8.00%, Jan 31, 2030 1,284 1,346 activities 165 1,869 1,919 2,078 Cash flows from financing activities Payments for units redeemed - (2,000) Indonesia 11.7% IDR 2,500,000 Indonesia Treasury Bond, Net cash provided by (used in) financing 8.25%, Jul 15, 2021 250 241 activities - (2,000) IDR 9,500,000 Indonesia Treasury Bond, Change in unrealized foreign exchange gain (loss) 8.38%, Mar 15, 2024 924 917 on currency 16 (12) IDR 5,054,000 Indonesia Treasury Bond, Net increase (decrease) in cash 165 (131) 6.63%, May 15, 2033 391 419 Cash (bank overdraft) beginning of year 65 208 IDR 3,229,000 Indonesia Treasury Bond, 8.38%, Mar 15, 2034 281 310 Cash (bank overdraft) end of year 246 65 1,846 1,887 Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 1,107 1,205 Mexico 10.0% MXN 11,300 Mexican Bonos, 6.50%, Jun 09, 2022 1,533 736 MXN 5,500 Mexican Bonos, 5.75%, Mar 05, 2026 430 323 MXN 8,080 Mexican Bonos, 8.50%, May 31, 2029 1,203 551 3,166 1,610 Poland 9.4% PLN 1,050 Poland Government Bond, 3.25%, Jul 25, 2019 374 387 PLN 2,900 Poland Government Bond, 5.25%, Oct 25, 2020 1,129 1,128 1,503 1,515 Hungary 7.6% HUF 105,000 Hungary Government Bond, 6.50%, Jun 24, 2019 566 526 HUF 108,000 Hungary Government Bond, 7.00%, Jun 24, 2022 630 622 USD 60 Hungary Government International Bond, 5.38%, Mar 25, 2024 82 88 1,278 1,236

The accompanying notes are an integral part of the financial statements.

144 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS LOCAL CURRENCY DEBT MANULIFE ASSET MANAGEMENT EMERGING MARKETS LOCAL CURRENCY DEBT POOLED FUND POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) Russia 7.3% Philippines 0.8% RUB 16,500 Russian Federal Bond - OFZ, PHP 5,000 Philippine Government International Bond, 7.50%, Feb 27, 2019 302 325 4.95%, Jan 15, 2021 149 128 RUB 44,500 Russian Federal Bond - OFZ, Peru 0.6% 6.40%, May 27, 2020 764 864 PEN 200 Peru Government Bond, 1,066 1,189 8.20%, Aug 12, 2026 96 95 Turkey 5.6% Total Investments 17,396 15,526 TRY 1,100 Turkey Government Bond, Derivative assets 0.1% 11 8.50%, Jul 10, 2019 482 266 Derivative liabilities (0.1%) (9) TRY 2,800 Turkey Government Bond, Other assets less liabilities 3.9% 623 7.40%, Feb 05, 2020 1,175 635 Net assets attributable to 1,657 901 unitholders 100.0% 16,151 Colombia 4.1% COP 650,600 Colombian TES, CONCENTRATION RISK 10.00%, Jul 24, 2024 300 323 The following table summarizes the Fund’s concentration risk. COP 863,800 Colombian TES, % of net assets attributable to 6.00%, Apr 28, 2028 299 345 unitholders 599 668 Portfolio by Category December 31, 2018 December 31, 2017 Argentina 3.7% Bonds USD 561 Argentine Republic Government Brazil 13.7 11.9 South Africa 12.9 11.9 International Bond, Indonesia 11.7 10.7 8.28%, Dec 31, 2033 876 601 Mexico 10.0 9.6 Malaysia 3.0% Poland 9.4 9.5 MYR 1,454 Malaysia Government Bond, Hungary 7.6 7.6 3.96%, Sep 15, 2025 462 479 Russia 7.3 8.2 Turkey 5.6 7.3 Romania 2.8% Colombia 4.1 4.2 RON 400 Romania Government Bond, Argentina 3.7 5.2 4.75%, Jun 24, 2019 145 135 Malaysia 3.0 2.8 RON 900 Romania Government Bond, Romania 2.8 2.8 5.85%, Apr 26, 2023 345 321 Iraq 1.9 1.9 Uruguay 1.0 1.1 490 456 Philippines 0.8 0.8 Iraq 1.9% Peru 0.6 0.6 USD 250 Iraq International Bond, Dominican Republic - 0.9 5.80%, Jan 15, 2028 276 307 Derivative assets 0.1 - Derivative liabilities (0.1) - Uruguay 1.0% Other assets less liabilities 3.9 3.0 UYU 2,200 Uruguay Government International Bond, 100.0 100.0 9.88%, Jun 20, 2022 104 92 UYU 2,000 Uruguay Government International Bond, 8.50%, Mar 15, 2028 84 72 188 164

The accompanying notes are an integral part of the financial statements.

145 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS LOCAL CURRENCY DEBT POOLED FUND

FORWARD FOREIGN CURRENCY CONTRACTS (0.0%) Purchased currency Sold currency Valueasat Valueasat Unrealized Counter- Settlement December 31, 2018 December 31, 2018 gain/loss party credit Contract price date Currency ($) (’000) Currency ($) (’000) ($) (’000) Counterparty rating USD 0.07214 Mar 20, 2019 USD 80 ZAR 76 4 Morgan Stanley Capital Services LLC A+ MXN 20.14871 Mar 20, 2019 MXN 321 USD 318 3 Citibank N.A. A+ BRL 3.94750 Mar 20, 2019 BRL 164 USD 162 2 Goldman Sachs Bank USA A+ IDR 14,664.00093 Mar 20, 2019 IDR 82 USD 81 1 State Street Bank and Trust Company AA- EUR 0.87178 Mar 20, 2019 EUR 170 USD 169 1 Goldman Sachs Bank USA A+ USD 0.00007 Mar 20, 2019 USD 81 IDR 81 - State Street Bank and Trust Company AA- Derivative assets 11 USD 0.04987 Mar 20, 2019 USD 160 MXN 161 (1) Citibank N.A. A+ BRL 3.86900 Mar 20, 2019 BRL 175 USD 176 (1) State Street Bank and Trust Company AA- USD 0.04973 Mar 20, 2019 USD 159 MXN 161 (2) Citibank N.A. A+ BRL 3.81550 Mar 20, 2019 BRL 78 USD 80 (2) Citibank N.A. A+ ZAR 13.94069 Mar 20, 2019 ZAR 77 USD 80 (3) Morgan Stanley Capital Services LLC A+ Derivative liabilities (9) Total 2

The accompanying notes are an integral part of the financial statements.

146 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL DIVERSIFIED BALANCED POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL DIVERSIFIED BALANCED POOLED FUND

Assets Income Current assets Interest for distribution purposes 18 278 Investments, at fair value 14,254 13,456 Dividend income 234 - Cash 81 674 Distribution income from underlying funds 356 342 Receivable from Manager - 11 Foreign exchange gain (loss) on currency 17 (9) Interest, dividends and other receivables 7 4 Income from securities lending 4 - Other income (loss) 25 - Derivative assets - 46 Realized gain (loss) on sales of investments 301 (5) 14,342 14,191 Realized gain (loss) on derivatives (139) 81 Liabilities Change in unrealized appreciation (depreciation) in the value of investments (920) (55) Current liabilities Change in unrealized appreciation (depreciation) in Payable on investments purchased - 152 the value of derivatives (126) 46 Accrued expenses and other liabilities 9 10 Derivative liabilities 80 - (230) 678 89 162 Expenses Audit fees 5 5 Net assets attributable to unitholders 14,253 14,029 Transfer agent fees 3 3 Net assets attributable to unitholders per unit Filing fees 1 - 10.03 10.81 Unitholder reporting costs 5 5 Custodial fees 4 11 Foreign withholding taxes 20 22 Transaction costs 9 8 47 54 Less operating expenses absorbed by manager - (11) Net operating expenses 47 43 Increase (decrease) in net assets attributable to unitholders (277) 635 Increase (decrease) in net assets attributable to unitholders per unit (0.22) 0.66

The accompanying notes are an integral part of the financial statements.

147 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL DIVERSIFIED BALANCED POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL DIVERSIFIED BALANCED POOLED FUND

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS STATEMENTS OF CASH FLOWS

For the years ended December 31 2018 2017 For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts) ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - Cash flows from operating activities beginning of year 14,029 997 Increase (decrease) in net assets attributable to Increase (decrease) in net assets attributable to unitholders (277) 635 unitholders (277) 635 Distribution to unitholders from: Adjustments for: Net investment income (262) (312) Distributions from underlying funds (356) (342) Net realized gains (517) (358) Change in unrealized foreign exchange gain (loss) on currency (10) 9 Total distributions to unitholders (779) (670) Realized gain (loss) on sales of investments (301) 5 Security transactions Realized gain (loss) on derivatives 139 (81) Proceeds from units issued 501 12,397 Change in unrealized appreciation (depreciation) in Reinvestments of distributions to unitholders 779 670 the value of investments 920 55 Total security transactions 1,280 13,067 Change in unrealized appreciation (depreciation) in the value of derivatives 126 (46) Net assets attributable to unitholders - end of year 14,253 14,029 Purchases of investments (82,078) (28,557) Changes due to unitholder transactions (Note 4) Proceeds from disposition of investments 80,726 16,542 Units outstanding beginning of year 1,298 94 Receivable from Manager 11 (11) Units issued 45 1,142 Interest, dividends and other receivables (3) (4) Units issued for reinvestment of distributions 78 62 Accrued expenses and other liabilities (1) 6 Units redeemed - - Net cash provided by (used in) operating Units outstanding end of year 1,421 1,298 activities (1,104) (11,789) Cash flows from financing activities Proceeds from sale of units 501 12,397 Net cash provided by (used in) financing activities 501 12,397 Change in unrealized foreign exchange gain (loss) on currency 10 (9) Net increase (decrease) in cash (603) 608 Cash (bank overdraft) beginning of year 674 75 Cash (bank overdraft) end of year 81 674 Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 18 252 Dividends received, net of foreign withholding taxes 211 -

The accompanying notes are an integral part of the financial statements.

148 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL DIVERSIFIED BALANCED POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL DIVERSIFIED BALANCED POOLED FUND

SCHEDULE OF INVESTMENT PORTFOLIO PAR VALUE ($) (’000)/ As at December 31, 2018 NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 50,443 Manulife International Value Equity Fund, Series O 750 603 EXCHANGE-TRADED FUNDS 50.7% 98,279 Manulife Strategic Income Fund, Series O 1,241 1,127 25,365 Invesco Senior Loan ETF 753 754 24,812 Manulife U.S. All Cap Equity Fund, Series O 586 521 7,872 iShares 1-5 Year Laddered Corporate Bond Index ETF 145 144 7,387 6,644 11,267 iShares Core MSCI Emerging Markets ETF 732 726 SHORT-TERM INVESTMENTS 2.7% 6,763 iShares MSCI Switzerland ETF 300 291 390 Merit Trust, 62,303 iShares S&P/TSX Capped Energy Index ETF 733 548 0.97%, Jan 02, 2019 390 390 8,746 iShares S&P/TSX Capped REIT Index ETF 156 147 6,017 SPDR Bloomberg Barclays High Yield Bond Investments 15,229 14,254 ETF 287 276 Transaction costs (3) 13,799 VanEck Vectors J.P. Morgan EM Local Total investments 15,226 14,254 Currency Bond ETF 599 622 22,581 Vanguard Canadian Aggregate Bond Index Derivative liabilities (0.6%) (80) ETF 570 562 Other assets less liabilities 0.6% 79 2,396 Vanguard Consumer Staples ETF 447 429 Net assets attributable to 3,804 Vanguard FTSE Developed Markets ETF 210 193 unitholders 100.0% 14,253 1,389 Vanguard Health Care ETF 305 305 1,576 Vanguard Information Technology ETF 358 359 CONCENTRATION RISK 1,234 Vanguard S&P 500 ETF 408 387 The following table summarizes the Fund’s concentration risk. 3,146 Vanguard Short-Term Corporate Bond ETF 335 335 7,840 Vanguard Total Bond Market ETF 818 848 % of net assets attributable to unitholders 1,826 Vanguard Utilities ETF 296 294 Portfolio by category December 31, 2018 December 31, 2017 7,452 7,220 Exchange-Traded Funds 50.7 46.9 MUTUAL FUNDS 46.6% Mutual Funds 46.6 49.0 79,751 Manulife Asset Management Canadian Short-Term Investments 2.7 - Large Cap Growth Pooled Fund 784 607 Derivative assets - 0.3 43,986 Manulife Asset Management US Large Derivative liabilities (0.6) - Cap Core Pooled Fund 537 433 Other assets less liabilities 0.6 3.8 362,572 Manulife Bond Fund, Series O 2,224 2,145 100.0 100.0 66,084 Manulife Corporate Bond Fund, Series O 653 606 33,232 Manulife Fundamental Equity Fund, Series O 612 602

FORWARD FOREIGN CURRENCY CONTRACTS (0.6%) Purchased currency Sold currency Valueasat Valueasat Unrealized Counter- Settlement December 31, 2018 December 31, 2018 gain/loss party credit Contract price date Currency ($) (’000) Currency ($) (’000) ($) (’000) Counterparty rating CAD 1.32867 Feb 28, 2019 CAD 3,002 USD 3,082 (80) Toronto Dominion Bank AA- Derivative liabilities (80)

The accompanying notes are an integral part of the financial statements.

149 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LARGE CAP GROWTH POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN LARGE CAP GROWTH POOLED FUND

Assets Income Current assets Interest for distribution purposes 28 66 Investments, at fair value 60,665 83,244 Dividend income 1,742 2,190 Cash 12 34 Foreign exchange gain (loss) on income - (1) Subscriptions receivable 212 26 Foreign exchange gain (loss) on currency - (1) Interest, dividends and other receivables 148 155 Realized gain (loss) on sales of investments 4,562 12,518 Change in unrealized appreciation (depreciation) in 61,037 83,459 the value of investments (11,775) (6,673) Liabilities (5,443) 8,099 Current liabilities Expenses Redemptions payable 64 55 Audit fees 5 7 Accrued expenses and other liabilities 16 22 Transfer agent fees 7 8 80 77 Filing fees - 1 Unitholder reporting costs 21 21 Net assets attributable to unitholders 60,957 83,382 Custodial fees 16 33 Net assets attributable to unitholders per unit Transaction costs 22 59 7.62 8.54 71 129 Less operating expenses absorbed by manager - (3) Net operating expenses 71 126 Increase (decrease) in net assets attributable to unitholders (5,514) 7,973 Increase (decrease) in net assets attributable to unitholders per unit (0.61) 0.77

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 83,382 109,325 Increase (decrease) in net assets attributable to unitholders (5,514) 7,973 Distribution to unitholders from: Net investment income (1,726) (2,103) Net realized gains (4,576) (12,523)

Total distributions to unitholders (6,302) (14,626)

Security transactions Proceeds from units issued 8,059 7,241 Reinvestments of distributions to unitholders 6,302 14,626 Redemption of units (24,970) (41,157)

Total security transactions (10,609) (19,290)

Net assets attributable to unitholders - end of year 60,957 83,382

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 9,765 11,447 Units issued 946 749 Units issued for reinvestment of distributions 288 1,713 Units redeemed (2,995) (4,144)

Units outstanding end of year 8,004 9,765

The accompanying notes are an integral part of the financial statements.

150 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LARGE CAP GROWTH POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN LARGE CAP GROWTH POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 96.7% Increase (decrease) in net assets attributable to Canada 96.7% unitholders (5,514) 7,973 Energy 16.2% Adjustments for: 74,580 Canadian Natural Resources Ltd. 2,741 2,457 Change in unrealized foreign exchange gain (loss) 65,330 Enbridge, Inc. 3,497 2,771 on currency - 1 88,610 Encana Corp. 1,432 698 Realized gain (loss) on sales of investments (4,562) (12,518) 38,820 Seven Generations Energy Ltd. 720 432 Change in unrealized appreciation (depreciation) in 82,140 Suncor Energy, Inc. 3,148 3,132 the value of investments 11,775 6,673 94,170 Whitecap Resources, Inc. 1,049 409 Purchases of investments (386,510) (327,914) 12,587 9,899 Proceeds from disposition of investments 401,876 359,623 Materials 12.2% Interest, dividends and other receivables 7 (5) 27,810 Agnico Eagle Mines Ltd. 1,405 1,533 Accrued expenses and other liabilities (6) 11 21,740 CCL Industries, Inc., Class B 770 1,088 Net cash provided by (used in) operating 47,280 First Quantum Minerals Ltd. 819 522 activities 17,066 33,844 10,360 Franco-Nevada Corp. 719 992 Cash flows from financing activities 126,400 Lundin Mining Corp. 952 713 Proceeds from sale of units 7,873 7,309 26,320 Nutrien Ltd. 1,721 1,688 Payments for units redeemed (24,961) (41,149) 31,350 Teck Resources Ltd. 906 921 Net cash provided by (used in) financing 7,292 7,457 activities (17,088) (33,840) Industrials 12.5% 30,640 Air Canada 761 795 Change in unrealized foreign exchange gain (loss) 25,100 Canadian National Railway Co. 1,489 2,538 on currency - (1) 9,740 Canadian Pacific Railway Ltd. 2,020 2,360 Net increase (decrease) in cash (22) 4 18,900 Waste Connections, Inc. 1,678 1,915 Cash (bank overdraft) beginning of year 34 31 5,948 7,608 Cash (bank overdraft) end of year 12 34 Consumer Discretionary 4.5% Supplemental information on cash flows from operating activities: 17,240 Aritzia, Inc. 283 283 Interest received, net of foreign withholding taxes 28 50 12,420 Gildan Activewear, Inc. 343 515 Dividends received, net of foreign withholding taxes 1,749 2,204 18,560 Restaurant Brands International, Inc. 867 1,324 16,140 Spin Master Corp. 669 619 2,162 2,741 Consumer Staples 7.6% 38,920 Alimentation Couche-Tard, Inc., Class B 1,408 2,643 22,770 Metro, Inc. 958 1,078 23,480 Saputo, Inc. 747 920 3,113 4,641 Health Care 0.7% 31,310 Chartwell Retirement Residences 442 428 Financials 32.6% 43,630 Brookfield Asset Management, Inc., Class A 1,462 2,283 22,280 Canadian Imperial Bank of Commerce 2,371 2,265 13,010 Intact Financial Corp. 962 1,290 52,920 Royal Bank of Canada 4,119 4,945 34,440 Sun Life Financial, Inc. 1,374 1,560 50,300 The Bank of Nova Scotia 3,018 3,423 60,200 The Toronto-Dominion Bank 2,855 4,085 16,161 19,851 Information Technology 8.3% 18,720 CGI Group, Inc., Class A 568 1,563 1,320 Constellation Software, Inc. 244 1,154 11,080 Open Text Corp. 505 493

The accompanying notes are an integral part of the financial statements.

151 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN LARGE CAP GROWTH POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN LARGE CAP GROWTH POOLED FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 6,590 Shopify, Inc. 280 1,244 15,790 The Descartes Systems Group, Inc. 266 569 1,863 5,023 Communication Services 2.1% 18,250 Rogers Communications, Inc., Class B 1,223 1,277 50,791 58,925 SHORT-TERM INVESTMENTS 2.8% 1,740 Merit Trust, 0.97%, Jan 02, 2019 1,740 1,740 Investments 52,531 60,665 Transaction costs (28) Total investments 52,503 60,665 Other assets less liabilities 0.5% 292 Net assets attributable to unitholders 100.0% 60,957

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Equities Canada Energy 16.2 20.8 Materials 12.2 11.0 Industrials 12.5 10.7 Consumer Discretionary 4.5 8.8 Consumer Staples 7.6 5.2 Health Care 0.7 0.8 Financials 32.6 33.2 Information Technology 8.3 7.8 Communication Services 2.1 - Short-Term Investments 2.8 1.5 Other assets less liabilities 0.5 0.2 100.0 100.0

The accompanying notes are an integral part of the financial statements.

152 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 180 927 Investments, at fair value 666,164 745,358 Dividend income 21,308 19,269 Cash 850 693 Foreign exchange gain (loss) on income 2 (7) Margin deposited on derivatives 2,306 1,382 Foreign exchange gain (loss) on currency 51 (7) Subscriptions receivable 1,128 255 Income from securities lending 414 286 Realized gain (loss) on sales of investments 10,869 12,981 Receivable from investments sold 2,288 - Realized gain (loss) on derivatives (934) 1,358 Interest, dividends and other receivables 2,078 1,852 Change in unrealized appreciation (depreciation) in Derivative assets - 100 the value of investments (96,192) 26,971 674,814 749,640 Change in unrealized appreciation (depreciation) in Liabilities the value of derivatives (613) 95 Current liabilities (64,915) 61,873 Redemptions payable 7 3,081 Expenses Payable on investments purchased 2,288 - Audit fees 5 8 Accrued expenses and other liabilities 32 48 Transfer agent fees 15 15 Derivative liabilities 513 - Interest expense & bank charges 4 4 2,840 3,129 Unitholder reporting costs 52 37 Custodial fees 60 101 Net assets attributable to unitholders 671,974 746,511 Foreign withholding taxes 1 3 Net assets attributable to unitholders per unit Transaction costs 78 145 15.53 17.97 215 313 Less operating expenses absorbed by manager - (2) Net operating expenses 215 311 Increase (decrease) in net assets attributable to unitholders (65,130) 61,562 Increase (decrease) in net assets attributable to unitholders per unit (1.60) 1.47

153 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED FUND FUND

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS STATEMENTS OF CASH FLOWS

For the years ended December 31 2018 2017 For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts) ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - Cash flows from operating activities beginning of year 746,511 670,662 Increase (decrease) in net assets attributable to Increase (decrease) in net assets attributable to unitholders (65,130) 61,562 unitholders (65,130) 61,562 Distribution to unitholders from: Adjustments for: Net investment income (20,319) (21,546) Change in unrealized foreign exchange gain (loss) Net realized gains (14,727) (7,831) on currency (44) 6 Realized gain (loss) on sales of investments (10,869) (12,981) Total distributions to unitholders (35,046) (29,377) Realized gain (loss) on derivatives 934 (1,358) Security transactions Change in unrealized appreciation (depreciation) in Proceeds from units issued 62,177 154,469 the value of investments 96,192 (26,971) Reinvestments of distributions to unitholders 35,046 29,377 Change in unrealized appreciation (depreciation) in Redemption of units (71,584) (140,182) the value of derivatives 613 (95) Total security transactions 25,639 43,664 Purchases of investments (1,653,268) (771,097) Proceeds from disposition of investments 1,646,205 733,501 Net assets attributable to unitholders - end of year 671,974 746,511 Margin on derivatives (924) (49) Changes due to unitholder transactions (Note 4) Interest, dividends and other receivables (226) (106) Units outstanding beginning of year 41,543 39,125 Accrued expenses and other liabilities (16) 12 Units issued 3,589 8,807 Net cash provided by (used in) operating Units issued for reinvestment of distributions 2,257 1,635 activities 13,467 (17,576) Units redeemed (4,111) (8,024) Cash flows from financing activities Units outstanding end of year 43,278 41,543 Proceeds from sale of units 61,304 155,457 Payments for units redeemed (74,658) (137,207) Net cash provided by (used in) financing activities (13,354) 18,250 Change in unrealized foreign exchange gain (loss) on currency 44 (6) Net increase (decrease) in cash 113 674 Cash (bank overdraft) beginning of year 693 25 Cash (bank overdraft) end of year 850 693 Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 180 927 Dividends received, net of foreign withholding taxes 21,081 19,153 Interest paid 4 4

154 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED FUND FUND

SCHEDULE OF INVESTMENT PORTFOLIO PAR VALUE ($) (’000)/ As at December 31, 2018 NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 56,255 Detour Gold Corp. 1,012 649 50,959 Eldorado Gold Corp. 2,276 204 EQUITIES 95.7% 54,069 First Majestic Silver Corp. 662 434 Canada 94.3% 221,227 First Quantum Minerals Ltd. 3,801 2,442 Energy 17.0% 51,319 Fortuna Silver Mines, Inc. 359 257 113,570 ARC Resources Ltd. 2,580 920 59,804 Franco-Nevada Corp. 3,367 5,725 177,792 Baytex Energy Corp. 2,419 429 279,034 Goldcorp, Inc. 8,770 3,731 85,331 Birchcliff Energy Ltd. 692 259 83,843 HudBay Minerals, Inc. 925 542 127,011 Cameco Corp. 2,852 1,966 149,722 IAMGOLD Corp. 1,378 750 387,032 Canadian Natural Resources Ltd. 13,167 12,749 20,947 Interfor Corp. 340 302 327,262 Cenovus Energy, Inc. 7,625 3,142 17,946 Intertape Polymer Group, Inc. 300 304 78,753 CES Energy Solutions Corp. 475 248 171,882 Ivanhoe Mines Ltd. 374 407 25,745 Computer Modelling Group Ltd. 300 157 401,201 Kinross Gold Corp. 4,174 1,765 176,451 Crescent Point Energy Corp. 5,293 731 59,936 Kirkland Lake Gold Ltd. 627 2,134 648,483 Enbridge, Inc. 29,398 27,502 20,538 Labrador Iron Ore Royalty Corp. 520 498 305,623 Encana Corp. 5,857 2,408 99,247 Lucara Diamond Corp. 345 147 28,504 Enerflex Ltd. 375 456 204,780 Lundin Mining Corp. 1,298 1,155 78,210 Enerplus Corp. 1,727 831 23,881 MAG Silver Corp. 393 239 41,333 Ensign Energy Services, Inc. 552 198 25,015 Methanex Corp. 972 1,642 29,623 Freehold Royalties Ltd. 483 245 97,103 Nevsun Resources Ltd. 455 582 46,276 Gibson Energy, Inc. 998 864 185,721 New Gold, Inc. 1,222 195 96,763 Husky Energy, Inc. 2,363 1,365 16,722 Norbid, Inc. 580 607 75,973 Imperial Oil Ltd. 3,179 2,628 71,523 NOVAGOLD Resources, Inc. 456 388 128,717 Inter Pipeline Ltd. 2,782 2,489 196,446 Nutrien Ltd. 12,933 12,596 49,005 Kelt Exploration Ltd. 475 227 198,471 OceanaGold Corp. 605 988 67,157 Keyera Corp. 1,837 1,733 30,621 Osisko Gold Royalties Ltd. 476 366 33,563 Kinder Morgan Canada Ltd. 564 535 49,200 Pan American Silver Corp. 1,055 980 80,010 MEG Energy Corp. 1,875 617 58,874 Pretium Resources, Inc. 641 681 31,620 Mullen Group Ltd. 639 386 58,607 Sandstorm Gold Ltd. 392 370 101,145 NexGen Energy Ltd. 347 244 104,491 SEMAFO, Inc. 543 308 72,263 NuVista Energy Ltd. 516 295 38,583 SSR Mining, Inc. 629 637 49,880 Parex Resources, Inc. 647 816 18,030 Stella-Jones, Inc. 792 714 42,719 Parkland Fuel Corp. 971 1,510 100,543 Tahoe Resources, Inc. 1,452 500 23,852 Pason Systems, Inc. 405 436 161,973 Teck Resources Ltd. 5,033 4,760 162,409 Pembina Pipeline Corp. 5,480 6,579 27,250 Torex Gold Resources, Inc. 472 354 52,908 Peyto Exploration & Development Corp. 1,261 375 316,420 Turquoise Hill Resources Ltd. 1,946 712 66,963 PrairieSky Royalty Ltd. 1,977 1,183 17,240 West Fraser Timber Co., Ltd. 638 1,163 94,275 Precision Drilling Corp. 953 223 124,720 Western Forest Products, Inc. 287 236 51,968 Secure Energy Services, Inc. 569 364 142,467 Wheaton Precious Metals Corp. 3,712 3,797 88,324 Seven Generations Energy Ltd. 1,826 984 9,804 Winpak Ltd. 468 468 22,492 ShawCor Ltd. 743 373 304,556 Yamana Gold, Inc. 2,957 978 519,074 Suncor Energy, Inc. 20,113 19,792 47,749 TORC Oil & Gas Ltd. 459 209 90,088 72,464 81,187 Tourmaline Oil Corp. 2,703 1,379 Industrials 10.3% 293,153 TransCanada Corp. 13,925 14,291 19,227 Aecon Group, Inc. 268 339 48,936 Vermilion Energy, Inc. 2,456 1,407 86,873 Air Canada 653 2,255 133,419 Whitecap Resources, Inc. 1,443 580 24,470 ATS Automation Tooling Systems, Inc. 352 352 145,301 114,125 11,906 Badger Daylighting Ltd. 341 384 681,991 Bombardier, Inc. 2,847 1,384 Materials 10.8% 6,313 Boyd Group Income Fund 433 713 75,269 Agnico Eagle Mines Ltd. 3,538 4,148 85,458 CAE, Inc. 1,104 2,144 94,294 Alacer Gold Corp. 506 238 233,683 Canadian National Railway Co. 11,209 23,628 125,277 Alamos Gold, Inc. 1,224 615 45,671 Canadian Pacific Railway Ltd. 5,314 11,063 317,567 B2Gold Corp. 962 1,267 44,915 Chorus Aviation, Inc. 404 253 374,683 Barrick Gold Corp. 11,369 6,905 9,263 Exchange Income Corp. 379 262 20,177 Canfor Corp. 305 333 53,973 Finning International, Inc. 1,309 1,285 21,478 Cascades, Inc. 351 220 18,987 Maxar Technologies Ltd. 1,165 310 46,323 CCL Industries, Inc., Class B 959 2,319 20,535 Morneau Shepell, Inc. 420 514 68,402 Centerra Gold, Inc. 649 401 17,408 NFI Group, Inc. 600 593 29,714 Chemtrade Logistics Income Fund 588 311

155 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 16,862 Richelieu Hardware Ltd. 511 383 Financials 31.5% 34,861 Ritchie Bros. Auctioneers, Inc. 941 1,557 11,712 Alaris Royalty Corp. 364 199 19,925 Russel Metals, Inc. 489 425 205,162 Bank of Montreal 13,759 18,298 56,336 SNC-Lavalin Group, Inc. 2,579 2,587 280,601 Brookfield Asset Management, Inc., 36,513 Stantec, Inc. 859 1,092 Class A 8,051 14,681 26,644 TFI International, Inc. 564 941 142,126 Canadian Imperial Bank of Commerce 12,386 14,451 58,330 Thomson Reuters Corp. 2,219 3,846 28,545 Canadian Western Bank 779 743 26,137 Toromont Industries Ltd. 752 1,418 72,605 CI Financial Corp. 2,008 1,255 23,541 Transcontinental, Inc. 432 454 102,648 ECN Capital Corp. 311 354 84,559 Waste Connections, Inc. 4,666 8,568 139,016 Element Fleet Management Corp. 1,507 961 36,566 Westjet Airlines Ltd. 685 658 8,911 Fairfax Financial Holdings Ltd. 4,257 5,355 14,613 Westshore Terminals Investment Corp. 332 301 12,246 Genworth MI Canada, Inc. 347 492 20,444 WSP Global, Inc. 728 1,199 88,809 Great-West Lifeco, Inc. 2,517 2,503 42,555 68,908 20,601 Home Capital Group, Inc. 520 297 27,052 IGM Financial, Inc. 1,122 839 Consumer Discretionary 4.1% 35,092 Industrial Alliance Insurance & Financial 20,539 Aritzia, Inc. 313 337 Services, Inc. 1,358 1,529 13,809 BRP, Inc. 481 488 44,666 Intact Financial Corp. 2,975 4,430 18,828 Canada Goose Holdings, Inc. 894 1,124 13,502 Laurentian Bank of Canada 643 514 19,365 Canadian Tire Corp., Ltd., Class A 1,595 2,764 636,899 Manulife Financial Corp. 10,297 12,337 94,457 Dollarama, Inc. 1,266 3,067 107,753 National Bank of Canada 4,176 6,040 66,340 Gildan Activewear, Inc. 1,433 2,749 26,181 Onex Corp. 1,266 1,947 18,393 Great Canadian Gaming Corp. 425 880 117,769 Power Corp. of Canada 3,295 2,889 38,824 Hudson’s Bay Co. 654 283 77,913 Power Financial Corp. 2,351 2,012 14,681 Linamar Corp. 521 665 462,412 Royal Bank of Canada 28,925 43,208 99,832 Magna International, Inc. 3,274 6,187 193,590 Sun Life Financial, Inc. 7,012 8,768 27,679 Martinrea International, Inc. 275 301 393,755 The Bank of Nova Scotia 22,596 26,795 6,300 MTY Food Group, Inc. 398 382 588,534 The Toronto-Dominion Bank 26,103 39,938 81,066 Restaurant Brands International, Inc. 4,048 5,782 11,455 TMX Group Ltd. 613 810 11,178 Sleep Country Canada Holdings, Inc. 344 223 9,461 Spin Master Corp. 428 363 159,538 211,645 70,124 The Stars Group, Inc. 2,545 1,581 Information Technology 3.8% 13,568 Uni-Select, Inc. 375 263 156,125 BlackBerry Ltd. 4,259 1,516 19,269 27,439 38,082 Celestica, Inc. 556 455 79,784 CGI Group, Inc., Class A 2,560 6,662 Consumer Staples 3.8% 6,325 Constellation Software, Inc. 1,872 5,527 140,363 Alimentation Couche-Tard, Inc., Class B 3,680 9,532 6,129 Enghouse Systems Ltd. 329 407 44,197 Cott Corp. 547 840 8,353 Kinaxis, Inc. 454 551 51,263 Empire Co., Ltd., Class A 1,133 1,478 86,167 Open Text Corp. 1,980 3,834 23,726 George Weston Ltd. 1,903 2,137 30,353 Shopify, Inc. 3,869 5,730 57,800 Loblaw Cos., Ltd. 2,370 3,532 11,568 Sierra Wireless, Inc. 487 212 24,745 Maple Leaf Foods, Inc. 434 676 24,666 The Descartes Systems Group, Inc. 461 889 77,298 Metro, Inc. 1,679 3,659 9,427 Premium Brands Holdings Corp. 593 706 16,827 25,783 71,112 Saputo, Inc. 1,764 2,787 Communication Services 5.7% 15,627 The North West Co., Inc. 353 491 288,187 BCE, Inc. 12,906 15,542 14,456 25,838 20,324 Cineplex, Inc. 634 517 7,395 Cogeco Communications, Inc. 371 487 Health Care 1.5% 58,050 Quebecor, Inc., Class B 805 1,668 68,928 Aphria, Inc. 1,037 541 115,285 Rogers Communications, Inc., Class B 4,656 8,065 319,794 Aurora Cannabis, Inc. 3,018 2,168 141,610 Shaw Communications, Inc., Class B 3,252 3,499 98,769 Bausch Health Cos., Inc. 7,119 2,494 191,964 TELUS Corp. 5,931 8,687 69,288 Canopy Growth Corp. 1,477 2,537 68,118 Chartwell Retirement Residences 637 931 28,555 38,465 53,904 Cronos Group, Inc. 750 775 Utilities 3.1% 28,341 Extendicare, Inc. 240 180 151,029 Algonquin Power & Utilities Corp. 1,629 2,074 35,296 Knight Therapeutics, Inc. 349 271 86,811 AltaGas Ltd. 2,593 1,207 21,132 Sienna Senior Living, Inc. 373 333 24,105 Atco Ltd. 799 931 15,000 10,230 22,033 Boralex, Inc. 443 371

156 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED FUND FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 38,278 Canadian Utilities Ltd. 1,137 1,199 SHORT-TERM INVESTMENTS 2.4% 32,695 Capital Power Corp. 802 869 15,700 Merit Trust, 74,760 Emera, Inc. 2,828 3,268 0.97%, Jan 02, 2019 15,699 15,699 136,936 Fortis, Inc. 5,051 6,232 EXCHANGE-TRADED FUNDS 1.1% 97,522 Hydro One Ltd. 2,264 1,975 313,619 iShares Core S&P/TSX Capped Composite 35,421 Innergex Renewable Energy, Inc. 410 444 Index ETF 7,765 7,147 37,948 Northland Power, Inc. 682 823 56,117 Superior Plus Corp. 693 543 Investments 601,480 666,164 91,777 TransAlta Corp. 1,435 513 Transaction costs (171) 32,890 TransAlta Renewables, Inc. 414 341 Total investments 601,309 666,164 21,180 20,790 Derivative liabilities (0.1%) (513) Real Estate 2.7% Other assets less liabilities 0.9% 6,323 33,328 Allied Properties REIT 951 1,477 11,982 Altus Group Ltd. 342 284 Net assets attributable to 43,384 Artis REIT 472 401 unitholders 100.0% 671,974 12,004 Boardwalk REIT 513 454 46,621 Canadian Apartment Properties REIT 1,002 2,065 CONCENTRATION RISK 74,014 Choice Properties REIT 731 853 The following table summarizes the Fund’s concentration risk. 9,237 Colliers International Group, Inc. 318 695 % of net assets attributable to 58,385 Cominar REIT 816 654 unitholders 28,745 Crombie REIT 348 360 Portfolio by category December 31, 2018 December 31, 2017 61,630 Dream Global REIT 602 733 Equities 15,991 Dream Office REIT 383 356 Canada 55,601 First Capital Realty, Inc. 1,050 1,048 Energy 17.0 18.9 10,006 FirstService Corp. 279 938 Materials 10.8 11.0 14,676 Granite REIT 586 781 Industrials 10.3 9.2 91,667 H&R Real Estate Investment Trust 1,730 1,893 Consumer Discretionary 4.1 5.3 33,984 InterRent REIT 401 444 Consumer Staples 3.8 3.5 27,382 Killam Apartment REIT 382 437 Health Care 1.5 0.9 18,027 Northview Apartment REIT 397 441 Financials 31.5 33.5 98,463 RioCan REIT 2,288 2,343 Information Technology 3.8 3.1 38,319 Smart REIT 937 1,181 Communication Services 5.7 4.6 44,523 Tricon Capital Group, Inc. 479 431 Utilities 3.1 3.0 Real Estate 2.7 2.8 15,007 18,269 Global 567,776 633,956 Materials 0.1 0.1 Industrials 0.1 - Global 1.3% Utilities 0.8 0.7 Materials 0.1% Real Estate 0.3 - 24,204 Endeavour Mining Corp. 522 541 United States Industrials 0.1% Energy 0.1 0.1 13,168 Brookfield Business LP 417 548 Short-Term Investments 2.4 2.1 Exchange-Traded Funds 1.1 1.0 Utilities 0.8% Derivative liabilities (0.1) - 88,851 Brookfield Infrastructure Partners LP 4,796 4,189 Other assets less liabilities 0.9 0.2 39,807 Brookfield Renewable Partner MLP 1,345 1,407 100.0 100.0 6,141 5,596 Real Estate 0.3% 104,597 Brookfield Property Partners LP 2,501 2,303 9,581 8,988 United States 0.1% Energy 0.1% 125,601 Gran Tierra Energy, Inc. 659 374 578,016 643,318

157 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN EQUITY INDEX POOLED FUND

FUTURES CONTRACTS (0.1%) Commitment Unrealized No. of Contract Futures Delivery amount Price as at gain/(loss) contracts price contracts date ($) (’000) December 31, 2018 (CAD $) (’000) 123 CAD 878.17 S&P TSX 60 Index Future Mar 14, 2019 CAD 21,090 CAD 857.30 (513) Derivative liabilities (513)

158 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY POOLED MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 2 5 Investments, at fair value 95,553 21,622 Dividend income 859 2,346 Cash 100 45 Foreign exchange gain (loss) on income - (1) Interest, dividends and other receivables 235 45 Foreign exchange gain (loss) on currency 3 (9) Income from securities lending 1 2 95,888 21,712 Realized gain (loss) on sales of investments 413 11,667 Liabilities Change in unrealized appreciation (depreciation) in Current liabilities the value of investments (4,740) (9,825) Accrued expenses and other liabilities 11 20 (3,462) 4,185 11 20 Expenses Audit fees 4 6 Net assets attributable to unitholders 95,877 21,692 Transfer agent fees 4 3 Net assets attributable to unitholders per unit Unitholder reporting costs 7 16 9.99 10.84 Custodial fees 1 44 Transaction costs 29 76 45 145 Increase (decrease) in net assets attributable to unitholders (3,507) 4,040 Increase (decrease) in net assets attributable to unitholders per unit (1.26) 0.44

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 21,692 139,771 Increase (decrease) in net assets attributable to unitholders (3,507) 4,040 Distribution to unitholders from: Net investment income (646) (2,380) Net realized gains (404) (1,590)

Total distributions to unitholders (1,050) (3,970)

Security transactions Proceeds from units issued 77,720 25 Reinvestments of distributions to unitholders 1,050 3,970 Redemption of units (28) (122,144)

Total security transactions 78,742 (118,149)

Net assets attributable to unitholders - end of year 95,877 21,692

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 2,000 12,752 Units issued 7,499 2 Units issued for reinvestment of distributions 105 364 Units redeemed (3) (11,118)

Units outstanding end of year 9,601 2,000

The accompanying notes are an integral part of the financial statements.

159 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY POOLED MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 98.2% Increase (decrease) in net assets attributable to Canada 98.2% unitholders (3,507) 4,040 Energy 15.0% Adjustments for: 140,040 Canadian Natural Resources Ltd. 5,006 4,613 Change in unrealized foreign exchange gain (loss) 68,233 Enbridge, Inc. 3,055 2,894 on currency (3) 1 30,717 Parkland Fuel Corp. 1,126 1,086 Realized gain (loss) on sales of investments (413) (11,667) 23,726 PrairieSky Royalty Ltd. 477 419 Change in unrealized appreciation (depreciation) in 122,358 Suncor Energy, Inc. 5,071 4,665 the value of investments 4,740 9,825 164,532 Whitecap Resources, Inc. 1,007 716 Purchases of investments (93,219) (65,198) 15,742 14,393 Proceeds from disposition of investments 14,961 184,845 Materials 9.6% Interest, dividends and other receivables (190) 157 26,109 Agnico Eagle Mines Ltd. 1,384 1,438 Accrued expenses and other liabilities (9) 3 72,775 CCL Industries, Inc., Class B 3,838 3,643 Net cash provided by (used in) operating 11,336 First Quantum Minerals Ltd. 147 125 activities (77,640) 122,006 9,513 Franco-Nevada Corp. 872 911 Cash flows from financing activities 65,735 Goldcorp, Inc. 1,028 879 Proceeds from sale of units 77,720 25 83,093 Lundin Mining Corp. 454 469 Payments for units redeemed (28) (122,144) 18,466 Nutrien Ltd. 1,168 1,184 20,013 Teck Resources Ltd. 599 588 Net cash provided by (used in) financing 9,490 9,237 activities 77,692 (122,119) Industrials 10.7% Change in unrealized foreign exchange gain (loss) 49,891 CAE, Inc. 1,172 1,252 on currency 3 (1) 19,754 Canadian National Railway Co. 1,957 1,997 Net increase (decrease) in cash 52 (113) 14,295 Canadian Pacific Railway Ltd. 3,447 3,463 Cash (bank overdraft) beginning of year 45 159 37,138 Morneau Shepell, Inc. 984 930 Cash (bank overdraft) end of year 100 45 15,112 Toromont Industries Ltd. 804 820 Supplemental information on cash flows from operating activities: 17,981 Waste Connections, Inc. 1,820 1,822 Interest received, net of foreign withholding taxes 2 5 10,184 10,284 Dividends received, net of foreign withholding taxes 669 2,502 Consumer Discretionary 4.7% 53,783 Dollarama, Inc. 1,902 1,746 19,601 Magna International, Inc. 1,175 1,215 20,813 Restaurant Brands International, Inc. 1,479 1,484 4,556 4,445 Consumer Staples 5.3% 33,141 Empire Co., Ltd., Class A 911 955 51,280 Loblaw Cos., Ltd. 2,938 3,134 25,586 Saputo, Inc. 1,027 1,003 4,876 5,092 Financials 32.9% 66,357 Brookfield Asset Management, Inc., Class A 3,499 3,472 39,803 Canadian Imperial Bank of Commerce 4,348 4,047 28,740 Intact Financial Corp. 2,819 2,851 40,910 Royal Bank of Canada 3,845 3,822 69,085 Sun Life Financial, Inc. 3,165 3,129 82,560 The Bank of Nova Scotia 5,939 5,618 113,130 The Toronto-Dominion Bank 7,733 7,677 13,236 TMX Group Ltd. 981 936 32,329 31,552 Information Technology 9.6% 40,829 CGI Group, Inc., Class A 3,170 3,409

The accompanying notes are an integral part of the financial statements.

160 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY POOLED MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY POOLED FUND FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 3,037 Constellation Software, Inc. 2,667 2,654 70,560 Open Text Corp. 3,105 3,140 8,942 9,203 Communication Services 9.6% 103,718 BCE, Inc. 5,626 5,593 20,186 Cogeco Communications, Inc. 1,333 1,328 77,440 Quebecor, Inc., Class B 2,040 2,226 8,999 9,147 Real Estate 0.8% 33,790 Altus Group Ltd. 863 800 95,981 94,153 SHORT-TERM INVESTMENTS 1.5% 1,000 Canadian Treasury Bill, 0.26%, Jan 03, 2019 1,000 1,000 400 Canadian Treasury Bill, 1.30%, Jan 04, 2019 400 400 1,400 1,400 Investments 97,381 95,553 Transaction costs (23) Total investments 97,358 95,553 Other assets less liabilities 0.3% 324 Net assets attributable to unitholders 100.0% 95,877

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Equities Canada Energy 15.0 19.2 Materials 9.6 9.0 Industrials 10.7 10.6 Consumer Discretionary 4.7 9.8 Consumer Staples 5.3 4.6 Financials 32.9 33.5 Information Technology 9.6 7.5 Communication Services 9.6 2.8 Real Estate 0.8 1.3 Short-Term Investments 1.5 1.4 Other assets less liabilities 0.3 0.3 100.0 100.0

The accompanying notes are an integral part of the financial statements.

161 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY FOCUSED POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY FOCUSED POOLED FUND

Assets Income Current assets Dividend income 11 Investments, at fair value 1,878 Realized gain (loss) on sales of investments (25) Cash 11 Change in unrealized appreciation (depreciation) in the value of Interest, dividends and other receivables 8 investments (96) 1,897 (110) Liabilities Expenses Audit fees 5 Current liabilities Transfer agent fees 1 Accrued expenses and other liabilities 8 Unitholder reporting costs 1 8 Custodial fees 1 Transaction costs 1 Net assets attributable to unitholders 1,889 9 Net assets attributable to unitholders per unit Less operating expenses absorbed by manager (8) 9.44 Net operating expenses 1 Increase (decrease) in net assets attributable to unitholders (111) Increase (decrease) in net assets attributable to unitholders per unit (2.58)

STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the period ended December 31 2018 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of period - Increase (decrease) in net assets attributable to unitholders (111) Security transactions Proceeds from units issued 2,000

Total security transactions 2,000

Net assets attributable to unitholders - end of period 1,889

Changes due to unitholder transactions (Note 4) Units outstanding beginning of period - Units issued 200 Units issued for reinvestment of distributions - Units redeemed -

Units outstanding end of period 200

The accompanying notes are an integral part of the financial statements.

162 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY FOCUSED POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY FOCUSED POOLED FUND

STATEMENT OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the period ended December 31 2018 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 99.4% Increase (decrease) in net assets attributable to unitholders (111) Canada 99.4% Adjustments for: Energy 10.4% Realized gain (loss) on sales of investments 25 2,929 Canadian Natural Resources Ltd. 110 96 Change in unrealized appreciation (depreciation) in the value of 2,614 Suncor Energy, Inc. 125 100 investments 96 235 196 Purchases of investments (4,223) Materials 5.9% Proceeds from disposition of investments 2,224 2,241 CCL Industries, Inc., Class B 123 112 Interest, dividends and other receivables (8) Accrued expenses and other liabilities 8 Industrials 8.3% 333 Canadian Pacific Railway Ltd. 90 81 Net cash provided by (used in) operating activities (1,989) 2,997 Morneau Shepell, Inc. 81 75 Cash flows from financing activities 171 156 Proceeds from sale of units 2,000 Consumer Discretionary 4.1% Net cash provided by (used in) financing activities 2,000 2,393 Dollarama, Inc. 93 78 Net increase (decrease) in cash 11 Consumer Staples 5.4% Cash (bank overdraft) beginning of period - 1,686 Loblaw Cos., Ltd. 89 103 Cash (bank overdraft) end of period 11 Financials 31.1% Supplemental information on cash flows from operating activities: 1,432 Brookfield Asset Management, Inc., Dividends received, net of foreign withholding taxes 6 Class A 79 75 960 Intact Financial Corp. 97 95 909 Royal Bank of Canada 90 85 417 Sun Life Financial, Inc. 20 19 1,681 The Bank of Nova Scotia 120 114 1,882 The Toronto-Dominion Bank 140 128 1,023 TMX Group Ltd. 82 72 628 588 Information Technology 14.0% 1,044 CGI Group, Inc., Class A 82 87 111 Constellation Software, Inc. 97 97 1,795 Open Text Corp. 80 80 259 264 Communication Services 17.4% 2,241 BCE, Inc. 116 121 1,984 Cogeco Communications, Inc. 130 131 2,696 Quebecor, Inc., Class B 71 77 317 329 Real Estate 2.8% 2,184 Altus Group Ltd. 60 52 Investments 1,975 1,878 Transaction costs (1) Total investments 1,974 1,878 Other assets less liabilities 0.6% 11 Net assets attributable to unitholders 100.0% 1,889

The accompanying notes are an integral part of the financial statements.

163 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY FOCUSED POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN CORE EQUITY FOCUSED POOLED FUND

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Equities Canada Energy 10.4 - Materials 5.9 - Industrials 8.3 - Consumer Discretionary 4.1 - Consumer Staples 5.4 - Financials 31.1 - Information Technology 14.0 - Communication Services 17.4 - Real Estate 2.8 - Other assets less liabilities 0.6 - 100.0 -

The accompanying notes are an integral part of the financial statements.

164 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CAPPED CANADIAN EQUITY POOLED MANULIFE ASSET MANAGEMENT CAPPED CANADIAN EQUITY POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 10 25 Investments, at fair value 59,723 62,790 Dividend income 1,720 1,558 Cash 195 121 Foreign exchange gain (loss) on currency 12 (6) Receivable from Manager - 45 Realized gain (loss) on sales of investments 3,145 8,864 Interest, dividends and other receivables 191 132 Change in unrealized appreciation (depreciation) in the value of investments (9,117) (3,438) 60,109 63,088 (4,230) 7,003 Liabilities Expenses Current liabilities Audit fees 5 6 Accrued expenses and other liabilities 12 15 Transfer agent fees 3 4 12 15 Filing fees 1 1 Unitholder reporting costs 17 14 Net assets attributable to unitholders 60,097 63,073 Custodial fees 14 29 Net assets attributable to unitholders per unit Transaction costs 26 43 79.25 92.14 66 97 Less operating expenses absorbed by manager (8) (45) Net operating expenses 58 52 Increase (decrease) in net assets attributable to unitholders (4,288) 6,951 Increase (decrease) in net assets attributable to unitholders per unit (6.16) 10.30

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 63,073 75,230 Increase (decrease) in net assets attributable to unitholders (4,288) 6,951 Distribution to unitholders from: Net investment income (1,634) (1,548) Net realized gains (3,042) (8,953)

Total distributions to unitholders (4,676) (10,501)

Security transactions Proceeds from units issued 5,696 13,870 Reinvestments of distributions to unitholders 4,676 10,501 Redemption of units (4,384) (32,978)

Total security transactions 5,988 (8,607)

Net assets attributable to unitholders - end of year 60,097 63,073

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 685 773 Units issued 60 139 Units issued for reinvestment of distributions 59 112 Units redeemed (46) (339)

Units outstanding end of year 758 685

The accompanying notes are an integral part of the financial statements.

165 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CAPPED CANADIAN EQUITY POOLED MANULIFE ASSET MANAGEMENT CAPPED CANADIAN EQUITY POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 98.1% Increase (decrease) in net assets attributable to Canada 98.1% unitholders (4,288) 6,951 Energy 15.0% Adjustments for: 87,702 Canadian Natural Resources Ltd. 3,400 2,889 Change in unrealized foreign exchange gain (loss) 42,953 Enbridge, Inc. 2,204 1,822 on currency (12) 5 19,250 Parkland Fuel Corp. 550 680 Realized gain (loss) on sales of investments (3,145) (8,864) 14,834 PrairieSky Royalty Ltd. 362 262 Change in unrealized appreciation (depreciation) in 76,502 Suncor Energy, Inc. 3,132 2,917 the value of investments 9,117 3,438 103,252 Whitecap Resources, Inc. 845 449 Purchases of investments (158,136) (163,176) 10,493 9,019 Proceeds from disposition of investments 155,231 180,839 Materials 9.6% Receivable from Manager 45 (24) 16,357 Agnico Eagle Mines Ltd. 944 901 Interest, dividends and other receivables (59) (26) 45,559 CCL Industries, Inc., Class B 2,400 2,281 Accrued expenses and other liabilities (3) 5 7,341 First Quantum Minerals Ltd. 118 81 Net cash provided by (used in) operating 5,959 Franco-Nevada Corp. 507 570 activities (1,250) 19,148 41,185 Goldcorp, Inc. 987 551 Cash flows from financing activities 51,697 Lundin Mining Corp. 315 291 Proceeds from sale of units 5,696 13,870 11,519 Nutrien Ltd. 616 739 Payments for units redeemed (4,384) (32,978) 12,542 Teck Resources Ltd. 379 369 Net cash provided by (used in) financing 6,266 5,783 activities 1,312 (19,108) Industrials 10.6% 31,277 CAE, Inc. 544 785 Change in unrealized foreign exchange gain (loss) 12,355 Canadian National Railway Co. 768 1,249 on currency 12 (5) 8,941 Canadian Pacific Railway Ltd. 1,898 2,166 Net increase (decrease) in cash 62 40 23,254 Morneau Shepell, Inc. 630 583 Cash (bank overdraft) beginning of year 121 86 8,020 Toromont Industries Ltd. 279 435 Cash (bank overdraft) end of year 195 121 11,243 Waste Connections, Inc. 1,139 1,139 Supplemental information on cash flows from operating activities: 5,258 6,357 Interest received, net of foreign withholding taxes 10 25 Consumer Discretionary 4.8% Dividends received, net of foreign withholding taxes 1,661 1,532 33,626 Dollarama, Inc. 1,157 1,092 13,537 Magna International, Inc. 672 839 13,045 Restaurant Brands International, Inc. 876 930 2,705 2,861 Consumer Staples 5.3% 20,720 Empire Co., Ltd., Class A 548 597 32,103 Loblaw Cos., Ltd. 1,685 1,962 15,998 Saputo, Inc. 667 627 2,900 3,186 Financials 32.9% 41,490 Brookfield Asset Management, Inc., Class A 1,841 2,171 24,938 Canadian Imperial Bank of Commerce 2,723 2,536 17,969 Intact Financial Corp. 1,610 1,782 25,644 Royal Bank of Canada 2,119 2,396 43,194 Sun Life Financial, Inc. 1,993 1,956 51,729 The Bank of Nova Scotia 3,796 3,520 70,861 The Toronto-Dominion Bank 3,915 4,809 8,287 TMX Group Ltd. 544 586 18,541 19,756 Information Technology 9.6% 25,563 CGI Group, Inc., Class A 1,420 2,135

The accompanying notes are an integral part of the financial statements.

166 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CAPPED CANADIAN EQUITY POOLED MANULIFE ASSET MANAGEMENT CAPPED CANADIAN EQUITY POOLED FUND FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 1,902 Constellation Software, Inc. 1,705 1,662 44,292 Open Text Corp. 1,640 1,971 4,765 5,768 Communication Services 9.5% 64,845 BCE, Inc. 3,448 3,497 12,647 Cogeco Communications, Inc. 887 832 48,428 Quebecor, Inc., Class B 1,024 1,392 5,359 5,721 Real Estate 0.8% 21,224 Altus Group Ltd. 584 502 56,871 58,953 SHORT-TERM INVESTMENTS 1.3% 770 Merit Trust, 0.97%, Jan 02, 2019 770 770 Investments 57,641 59,723 Transaction costs (23) Total investments 57,618 59,723 Other assets less liabilities 0.6% 374 Net assets attributable to unitholders 100.0% 60,097

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Equities Canada Energy 15.0 19.2 Materials 9.6 9.0 Industrials 10.6 10.7 Consumer Discretionary 4.8 9.8 Consumer Staples 5.3 4.6 Financials 32.9 33.6 Information Technology 9.6 7.6 Communication Services 9.5 2.9 Real Estate 0.8 1.2 Short-Term Investments 1.3 1.0 Other assets less liabilities 0.6 0.4 100.0 100.0

The accompanying notes are an integral part of the financial statements.

167 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN VALUE EQUITY POOLED MANULIFE ASSET MANAGEMENT CANADIAN VALUE EQUITY POOLED FUND FUND

Assets Income Current assets Interest for distribution purposes 27 20 Investments, at fair value 32,898 40,358 Dividend income 1,154 747 Cash 138 20 Distribution income from underlying funds - 8 Subscriptions receivable 1 20 Realized gain (loss) on sales of investments 1,589 663 Receivable from Manager - 25 Change in unrealized appreciation (depreciation) in Interest, dividends and other receivables 112 111 the value of investments (7,569) 2,067 33,149 40,534 (4,799) 3,505 Expenses Liabilities Audit fees 5 5 Current liabilities Transfer agent fees 3 3 Redemptions payable 2 8 Unitholder reporting costs 12 8 Accrued expenses and other liabilities 13 13 Custodial fees 25 18 15 21 Transaction costs 31 27 Net assets attributable to unitholders 33,134 40,513 76 61 Less operating expenses absorbed by manager (26) (25) Net assets attributable to unitholders per unit 99.65 124.07 Net operating expenses 50 36 Increase (decrease) in net assets attributable to unitholders (4,849) 3,469 Increase (decrease) in net assets attributable to unitholders per unit (15.18) 15.22

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 40,513 17,604 Increase (decrease) in net assets attributable to unitholders (4,849) 3,469 Distribution to unitholders from: Net investment income (930) - Net realized gains (1,750) (676)

Total distributions to unitholders (2,680) (676)

Security transactions Proceeds from units issued 1,831 21,626 Reinvestments of distributions to unitholders 2,680 676 Redemption of units (4,361) (2,186)

Total security transactions 150 20,116

Net assets attributable to unitholders - end of year 33,134 40,513

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 327 154 Units issued 15 185 Units issued for reinvestment of distributions 27 6 Units redeemed (36) (18)

Units outstanding end of year 333 327

The accompanying notes are an integral part of the financial statements.

168 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN VALUE EQUITY POOLED MANULIFE ASSET MANAGEMENT CANADIAN VALUE EQUITY POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 92.7% Increase (decrease) in net assets attributable to Canada 92.7% unitholders (4,849) 3,469 Energy 13.1% Adjustments for: 26,816 Canadian Natural Resources Ltd. 1,045 883 Distributions from underlying funds - (8) 12,426 Computer Modelling Group Ltd. 112 76 Realized gain (loss) on sales of investments (1,589) (663) 11,149 Enbridge, Inc. 416 473 Change in unrealized appreciation (depreciation) in 47,203 Enerplus Corp. 654 501 the value of investments 7,569 (2,067) 4,584 Imperial Oil Ltd. 181 159 Purchases of investments (167,396) (52,813) 6,575 Inter Pipeline Ltd. 157 127 Proceeds from disposition of investments 168,876 32,682 26,320 Parex Resources, Inc. 553 430 Receivable from Manager 25 (6) 61,669 Peyto Exploration & Development Corp. 1,080 437 Interest, dividends and other receivables (1) (57) 44,526 Seven Generations Energy Ltd. 701 496 Accrued expenses and other liabilities - 5 20,139 ShawCor Ltd. 624 334 11,104 Suncor Energy, Inc. 424 423 Net cash provided by (used in) operating activities 2,635 (19,458) 5,947 4,339 Cash flows from financing activities Materials 6.7% Proceeds from sale of units 1,850 21,639 23,755 First Quantum Minerals Ltd. 307 262 Payments for units redeemed (4,367) (2,182) 3,060 Franco-Nevada Corp. 263 293 26,836 Intertape Polymer Group, Inc. 509 454 Net cash provided by (used in) financing 2,336 Labrador Iron Ore Royalty Corp. 39 56 activities (2,517) 19,457 11,444 Nutrien Ltd. 736 734 Net increase (decrease) in cash 118 (1) 1,650 Stella-Jones, Inc. 70 65 Cash (bank overdraft) beginning of year 20 21 5,125 West Fraser Timber Co., Ltd. 365 346 Cash (bank overdraft) end of year 138 20 2,289 2,210 Supplemental information on cash flows from operating activities: Industrials 14.3% Interest received, net of foreign withholding taxes 27 20 9,061 Badger Daylighting Ltd. 226 292 Dividends received, net of foreign withholding taxes 1,156 698 9,240 Canadian National Railway Co. 775 934 1,320 Canadian Pacific Railway Ltd. 249 320 25,806 Maxar Technologies Ltd. 1,180 421 18,606 NFI Group, Inc. 839 633 14,873 Russel Metals, Inc. 421 317 31,738 Transcontinental, Inc. 693 613 13,244 Wajax Corp. 294 220 43,684 Westjet Airlines Ltd. 998 786 9,484 Westshore Terminals Investment Corp. 216 195 5,891 4,731 Consumer Discretionary 10.7% 3,809 Canadian Tire Corp., Ltd., Class A 525 544 24,801 Dorel Industries, Inc. 681 437 10,045 Gildan Activewear, Inc. 367 416 15,270 Linamar Corp. 830 692 15,580 Magna International, Inc. 988 965 6,286 Recipe Unlimited Corp. 180 165 9,460 Sleep Country Canada Holdings, Inc. 230 189 6,159 The Stars Group, Inc. 159 139 3,960 3,547 Consumer Staples 3.9% 1,092 Empire Co., Ltd., Class A 23 31 2,697 George Weston Ltd. 255 243 10,682 Metro, Inc. 430 506 6,598 Saputo, Inc. 268 258 7,640 The North West Co., Inc. 211 240 1,187 1,278

The accompanying notes are an integral part of the financial statements.

169 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN VALUE EQUITY POOLED MANULIFE ASSET MANAGEMENT CANADIAN VALUE EQUITY POOLED FUND FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE CONCENTRATION RISK NO. OF UNITS NAME ($) (’000) ($) (’000) The following table summarizes the Fund’s concentration risk. Health Care 0.5% % of net assets attributable to 7,170 Bausch Health Cos., Inc. 195 181 unitholders Financials 28.0% Portfolio by category December 31, 2018 December 31, 2017 25,146 Alaris Royalty Corp. 544 427 Equities 6,050 Bank of Montreal 581 540 Canada 10,240 Brookfield Asset Management, Inc., Energy 13.1 14.8 Class A 483 536 Materials 6.7 8.7 9,060 Canadian Imperial Bank of Commerce 956 921 Industrials 14.3 13.4 56,879 CI Financial Corp. 1,498 983 Consumer Discretionary 10.7 9.5 818 Fairfax Financial Holdings Ltd. 488 492 Consumer Staples 3.9 5.3 22,004 IGM Financial, Inc. 867 683 Health Care 0.5 - 6,540 National Bank of Canada 341 366 Financials 28.0 28.1 42,190 Power Corp. of Canada 1,282 1,035 Information Technology 6.0 5.2 10,640 Royal Bank of Canada 871 994 Communication Services 5.9 2.4 Utilities 1.0 0.4 11,440 Sun Life Financial, Inc. 529 518 Real Estate 2.6 2.8 12,170 The Bank of Nova Scotia 841 828 Short-Term Investments 6.6 9.0 14,260 The Toronto-Dominion Bank 799 968 Other assets less liabilities 0.7 0.4 10,080 9,291 100.0 100.0 Information Technology 6.0% 90,831 Celestica, Inc. 1,316 1,086 2,034 CGI Group, Inc., Class A 126 170 16,219 Open Text Corp. 640 722 2,082 1,978 Communication Services 5.9% 8,335 BCE, Inc. 449 450 11,416 Cogeco Communications, Inc. 815 751 46,832 Corus Entertainment, Inc. 543 223 2,400 Rogers Communications, Inc., Class B 149 168 7,921 TELUS Corp. 325 358 2,281 1,950 Utilities 1.0% 8,310 Atco Ltd. 346 321 Real Estate 2.6% 31,167 Cominar REIT 396 349 13,043 Northview Apartment REIT 230 319 20,991 Tricon Capital Group, Inc. 224 204 850 872 35,108 30,698 SHORT-TERM INVESTMENTS 6.6% 2,200 Canadian Treasury Bill, 1.30%, Jan 04, 2019 2,200 2,200 Investments 37,308 32,898 Transaction costs (25) Total investments 37,283 32,898 Other assets less liabilities 0.7% 236 Net assets attributable to unitholders 100.0% 33,134

The accompanying notes are an integral part of the financial statements.

170 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN ALL CAP FOCUSED EQUITY POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN ALL CAP FOCUSED EQUITY POOLED FUND

Assets Income Current assets Interest for distribution purposes 1 - Investments, at fair value 14,313 1,675 Dividend income 144 11 Cash 126 54 Realized gain (loss) on sales of investments (58) 103 Receivable from investments sold 65 17 Change in unrealized appreciation (depreciation) in Interest, dividends and other receivables 32 1 the value of investments (2,071) 127 14,536 1,747 (1,984) 241 Liabilities Expenses Audit fees 6 3 Current liabilities Transfer agent fees 5 3 Accrued expenses and other liabilities 10 6 Unitholder reporting costs 3 2 10 6 Custodial fees 12 11 Transaction costs 35 7 Net assets attributable to unitholders 14,526 1,741 61 26 Net assets attributable to unitholders per unit 9.05 10.01 Increase (decrease) in net assets attributable to unitholders (2,045) 215 Increase (decrease) in net assets attributable to unitholders per unit (2.64) 1.41

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 1,741 - Increase (decrease) in net assets attributable to unitholders (2,045) 215 Distribution to unitholders from: Net investment income - (213)

Total distributions to unitholders - (213)

Security transactions Proceeds from units issued 14,846 1,526 Reinvestments of distributions to unitholders - 213 Redemption of units (16) -

Total security transactions 14,830 1,739

Net assets attributable to unitholders - end of year 14,526 1,741

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 174 - Units issued 1,433 153 Units issued for reinvestment of distributions - 21 Units redeemed (2) -

Units outstanding end of year 1,605 174

The accompanying notes are an integral part of the financial statements.

171 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN ALL CAP FOCUSED EQUITY POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN ALL CAP FOCUSED EQUITY POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 98.5% Increase (decrease) in net assets attributable to Canada 98.5% unitholders (2,045) 215 Materials 10.4% Adjustments for: 11,298 CCL Industries, Inc., Class B 697 565 Realized gain (loss) on sales of investments 58 (103) 5,390 Richards Packaging Income Fund 185 189 Change in unrealized appreciation (depreciation) in 19,165 Stella-Jones, Inc. 832 759 the value of investments 2,071 (127) 1,714 1,513 Purchases of investments (35,066) (4,850) Industrials 22.6% Proceeds from disposition of investments 20,251 3,388 8,793 Badger Daylighting Ltd. 257 284 Interest, dividends and other receivables (31) (1) 7,247 Canadian National Railway Co. 831 733 Accrued expenses and other liabilities 4 6 205,198 EnWave Corp. 271 269 Net cash provided by (used in) operating 60,494 Hardwoods Distribution, Inc. 905 665 activities (14,758) (1,472) 30,056 Savaria Corp. 532 392 Cash flows from financing activities 10,464 Toromont Industries Ltd. 633 568 Proceeds from sale of units 14,846 1,526 20,750 Westjet Airlines Ltd. 414 373 Payments for units redeemed (16) - 3,843 3,284 Net cash provided by (used in) financing Consumer Discretionary 24.3% activities 14,830 1,526 17,194 A&W Revenue Royalties Income Fund 616 588 17,421 Aritzia, Inc. 277 286 Net increase (decrease) in cash 72 54 2,463 Canada Goose Holdings, Inc. 204 147 Cash (bank overdraft) beginning of year 54 - 2,408 Dollarama, Inc. 112 78 Cash (bank overdraft) end of year 126 54 8,212 Great Canadian Gaming Corp. 376 393 Supplemental information on cash flows from operating activities: 13,599 Linamar Corp. 746 616 Interest received, net of foreign withholding taxes 1 - 9,883 MTY Food Group, Inc. 554 599 Dividends received, net of foreign withholding taxes 113 10 53,376 Roots Corp. 393 168 8,631 Spin Master Corp. 435 332 14,154 The Stars Group, Inc. 480 319 4,193 3,526 Consumer Staples 10.6% 7,963 Alimentation Couche-Tard, Inc., Class B 480 541 11,385 Jamieson Wellness, Inc. 223 243 19,121 Saputo, Inc. 758 749 1,461 1,533 Health Care 7.5% 39,336 Aphria, Inc. 355 309 25,360 Biosyent, Inc. 222 204 18,398 CannTrust Holdings, Inc. 163 121 3,229 Canopy Growth Corp. 146 118 48,193 CRH Medical Corp. 215 201 30,064 HEXO Corp. 154 142 1,255 1,095 Financials 7.3% 27,665 CI Financial Corp. 618 478 5,252 goeasy Ltd. 243 188 12,971 IGM Financial, Inc. 413 402 1,274 1,068 Information Technology 11.0% 27,300 BlackBerry Ltd. 291 265 699 Constellation Software, Inc. 631 611 3,237 Enghouse Systems Ltd. 238 215 154,125 Lite Access Technologies, Inc. 137 60

The accompanying notes are an integral part of the financial statements.

172 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT CANADIAN ALL CAP FOCUSED EQUITY POOLED FUND MANULIFE ASSET MANAGEMENT CANADIAN ALL CAP FOCUSED EQUITY POOLED FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 266,268 Photon Control, Inc. 402 290 13,580 Solium Capital, Inc. 153 160 1,852 1,601 Communication Services 4.8% 12,842 BCE, Inc. 683 693 Investments 16,275 14,313 Transaction costs (18) Total investments 16,257 14,313 Other assets less liabilities 1.5% 213 Net assets attributable to unitholders 100.0% 14,526

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Equities Canada Materials 10.4 4.1 Industrials 22.6 21.6 Consumer Discretionary 24.3 24.0 Consumer Staples 10.6 3.8 Health Care 7.5 12.6 Financials 7.3 - Information Technology 11.0 22.9 Communication Services 4.8 4.0 United States Financials - 3.2 Other assets less liabilities 1.5 3.8 100.0 100.0

The accompanying notes are an integral part of the financial statements.

173 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US LARGE CAP CORE POOLED FUND MANULIFE ASSET MANAGEMENT US LARGE CAP CORE POOLED FUND

Assets Income Current assets Dividend income 4,784 6,399 Investments, at fair value 269,178 378,325 Foreign exchange gain (loss) on income 21 (22) Cash 11,475 3,646 Foreign exchange gain (loss) on currency 219 (905) Subscriptions receivable 231 60 Other income (loss) - 2 Interest, dividends and other receivables 300 350 Realized gain (loss) on sales of investments 34,383 42,927 Realized gain (loss) on derivatives (120) (197) 281,184 382,381 Change in unrealized appreciation (depreciation) in Liabilities the value of investments (52,512) 158 Current liabilities (13,225) 48,362 Redemptions payable 64 158 Expenses Accrued expenses and other liabilities 21 31 Audit fees 5 7 85 189 Transfer agent fees 4 4 Filing fees 1 1 Net assets attributable to unitholders 281,099 382,192 Interest expense & bank charges 4 1 Net assets attributable to unitholders per unit Unitholder reporting costs 50 36 9.84 11.93 Custodial fees 29 55 Foreign withholding taxes 614 909 Transaction costs 208 237 915 1,250 Less operating expenses absorbed by manager - (1) Net operating expenses 915 1,249 Increase (decrease) in net assets attributable to unitholders (14,140) 47,113 Increase (decrease) in net assets attributable to unitholders per unit (0.48) 1.49

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 382,192 380,040 Increase (decrease) in net assets attributable to unitholders (14,140) 47,113 Distribution to unitholders from: Net investment income (4,188) (5,327) Net realized gains (34,271) (42,701)

Total distributions to unitholders (38,459) (48,028)

Security transactions Proceeds from units issued 31,699 55,755 Reinvestments of distributions to unitholders 38,459 48,028 Redemption of units (118,652) (100,716)

Total security transactions (48,494) 3,067

Net assets attributable to unitholders - end of year 281,099 382,192

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 32,043 31,895 Units issued 2,647 4,360 Units issued for reinvestment of distributions 3,839 3,949 Units redeemed (9,951) (8,161)

Units outstanding end of year 28,578 32,043

The accompanying notes are an integral part of the financial statements.

174 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US LARGE CAP CORE POOLED FUND MANULIFE ASSET MANAGEMENT US LARGE CAP CORE POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 95.8% Increase (decrease) in net assets attributable to United States 85.9% unitholders (14,140) 47,113 Energy 3.8% Adjustments for: 122,322 Baker Hughes, a GE Co. 4,315 3,592 Change in unrealized foreign exchange gain (loss) 73,164 Cheniere Energy, Inc. 4,899 5,915 on currency (212) 84 63,999 Kinder Morgan, Inc. 1,447 1,344 Realized gain (loss) on sales of investments (34,383) (42,927) 10,661 10,851 Realized gain (loss) on derivatives 120 197 Industrials 6.0% Change in unrealized appreciation (depreciation) in 17,731 Caterpillar, Inc. 2,669 3,077 the value of investments 52,512 (158) 563,745 General Electric Co. 14,370 5,829 Purchases of investments (133,547) (194,974) 27,357 Union Pacific Corp. 3,262 5,165 Proceeds from disposition of investments 224,445 234,621 18,462 United Technologies Corp. 2,552 2,685 Receivable from Manager - 1 Interest, dividends and other receivables 50 (13) 22,853 16,756 Accrued expenses and other liabilities (10) 9 Consumer Discretionary 18.5% Net cash provided by (used in) operating 10,359 Amazon.com, Inc. 9,253 21,250 activities 94,835 43,953 132,339 eBay, Inc. 6,514 5,074 231,021 Lennar Corp., Class A 15,333 12,353 Cash flows from financing activities 9,237 Marriott International, Inc., Class A 1,484 1,369 Proceeds from sale of units 31,528 55,831 73,540 Polaris Industries, Inc. 8,606 7,702 Payments for units redeemed (118,746) (100,982) 73,288 Tempur Sealy International, Inc. 5,232 4,144 Net cash provided by (used in) financing 46,422 51,892 activities (87,218) (45,151) Consumer Staples 1.2% Change in unrealized foreign exchange gain (loss) 26,722 Wal-Mart Stores, Inc. 2,874 3,400 on currency 212 (84) Net increase (decrease) in cash 7,617 (1,198) Health Care 8.5% Cash (bank overdraft) beginning of year 3,646 4,928 11,838 Amgen, Inc. 3,057 3,148 7,566 Biogen, Inc. 2,869 3,110 Cash (bank overdraft) end of year 11,475 3,646 41,835 Bristol-Myers Squibb Co. 2,932 2,970 Supplemental information on cash flows from operating activities: 21,395 Danaher Corp. 2,674 3,013 Dividends received, net of foreign withholding taxes 4,220 5,454 44,730 Gilead Sciences, Inc. 3,930 3,821 Interest paid 4 1 15,353 UnitedHealth Group, Inc. 5,331 5,224 19,102 Zimmer Biomet Holdings, Inc. 2,943 2,706 23,736 23,992 Financials 19.2% 22,763 American Express Co. 1,867 2,964 371,025 Bank of America Corp. 8,618 12,486 116,862 Citigroup, Inc. 8,724 8,309 17,420 First Republic Bank 2,104 2,068 32,059 JPMorgan Chase & Co. 2,436 4,274 122,340 Morgan Stanley 5,204 6,625 31,644 Prudential Financial, Inc. 4,052 3,525 108,814 Synchrony Financial 4,110 3,487 24,119 The Goldman Sachs Group, Inc. 5,752 5,503 73,589 Wells Fargo & Co. 5,286 4,631 48,153 53,872 Information Technology 11.2% 12,631 Analog Devices, Inc. 1,633 1,481 52,946 Apple, Inc. 6,085 11,407 5,676 Broadcom Ltd. 1,748 1,971 36,479 Microsoft Corp. 5,215 5,060 17,588 Visa, Inc., Class A 2,137 3,169 38,349 Workday, Inc. 5,098 8,364 21,916 31,452

The accompanying notes are an integral part of the financial statements.

175 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US LARGE CAP CORE POOLED FUND MANULIFE ASSET MANAGEMENT US LARGE CAP CORE POOLED FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE CONCENTRATION RISK NO. OF UNITS NAME ($) (’000) ($) (’000) The following table summarizes the Fund’s concentration risk. Communication Services 15.7% % of net assets attributable to 9,592 Alphabet, Inc., Class A 9,412 13,689 unitholders 92,287 Cargurus, Inc. 4,250 4,251 Portfolio by category December 31, 2018 December 31, 2017 76,647 Comcast Corp., Class A 3,675 3,564 Equities 61,751 Facebook, Inc. 11,988 11,056 United States 126,152 Liberty Media Corp.-Liberty Formula One, Energy 3.8 1.9 Class C 6,130 5,290 Industrials 6.0 10.2 69,913 Twenty-First Century Fox, Inc., Class B 2,680 4,562 Consumer Discretionary 18.5 21.5 42,768 Twitter, Inc. 1,760 1,679 Consumer Staples 1.2 - 39,895 44,091 Health Care 8.5 2.2 Financials 19.2 26.9 Real Estate 1.8% Information Technology 11.2 19.9 23,887 American Tower Corp., Class A 3,254 5,161 Communication Services 15.7 - 219,764 241,467 Real Estate 1.8 1.6 Global Global 9.9% Energy 1.8 2.1 Energy 1.8% Industrials - 2.5 99,714 Schlumberger Ltd. 8,174 4,914 Consumer Staples 5.6 3.7 Consumer Staples 5.6% Health Care 2.5 6.5 82,759 Anheuser-Busch InBev SA 10,181 7,438 Other assets less liabilities 4.2 1.0 61,611 Danone SA 6,077 5,917 100.0 100.0 11,788 Diageo PLC, ADR 1,579 2,283 17,837 15,638 Health Care 2.5% 39,215 Allergan PLC 11,059 7,159 37,070 27,711 Investments 256,834 269,178 Transaction costs (139) Total investments 256,695 269,178 Other assets less liabilities 4.2% 11,921 Net assets attributable to unitholders 100.0% 281,099

The accompanying notes are an integral part of the financial statements.

176 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND

Assets Income Current assets Interest for distribution purposes, net of currency loss Investments, at fair value 1,133,231 1,299,504 on foreign short term notes 2,541 (1,671) Cash 1,461 44 Dividend income 24,258 25,071 Margin deposited on derivatives 3,107 1,269 Foreign exchange gain (loss) on income 95 (77) Subscriptions receivable 108 1,585 Foreign exchange gain (loss) on currency (280) (29) Receivable from investments sold - 1,351 Income from securities lending 9 16 Interest, dividends and other receivables 1,117 1,094 Other income (loss) 2 3 Realized gain (loss) on sales of investments 97,824 53,600 Derivative assets - 353 Realized gain (loss) on derivatives 289 6,414 1,139,024 1,305,200 Change in unrealized appreciation (depreciation) in Liabilities the value of investments (65,513) 74,617 Change in unrealized appreciation (depreciation) in Current liabilities Redemptions payable 651 349 the value of derivatives (1,070) 462 Payable on investments purchased 767 446 58,155 158,406 Accrued expenses and other liabilities 40 62 Expenses Derivative liabilities 717 - Audit fees 5 12 2,175 857 Transfer agent fees 14 17 Interest expense & bank charges 1 2 Net assets attributable to unitholders 1,136,849 1,304,343 Unitholder reporting costs 51 40 Net assets attributable to unitholders per unit Custodial fees 107 142 16.71 18.02 Foreign withholding taxes 3,562 3,694 Transaction costs 26 37 3,766 3,944 Less operating expenses absorbed by manager - (3) Net operating expenses 3,766 3,941 Increase (decrease) in net assets attributable to unitholders 54,389 154,465 Increase (decrease) in net assets attributable to unitholders per unit 0.84 2.27

The accompanying notes are an integral part of the financial statements.

177 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS STATEMENTS OF CASH FLOWS

For the years ended December 31 2018 2017 For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts) ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - Cash flows from operating activities beginning of year 1,304,343 1,253,579 Increase (decrease) in net assets attributable to Increase (decrease) in net assets attributable to unitholders 54,389 154,465 unitholders 54,389 154,465 Distribution to unitholders from: Adjustments for: Net investment income (22,772) (27,030) Change in unrealized foreign exchange gain (loss) Net realized gains (98,849) (52,238) on currency (116) 40 Realized gain (loss) on sales of investments (97,824) (53,600) Total distributions to unitholders (121,621) (79,268) Realized gain (loss) on derivatives (289) (6,414) Security transactions Change in unrealized appreciation (depreciation) in Proceeds from units issued 96,178 102,652 the value of investments 65,513 (74,617) Reinvestments of distributions to unitholders 121,621 79,268 Change in unrealized appreciation (depreciation) in Redemption of units (318,061) (206,353) the value of derivatives 1,070 (462) Total security transactions (100,262) (24,433) Purchases of investments (3,297,194) (864,824) Proceeds from disposition of investments 3,497,739 949,026 Net assets attributable to unitholders - end of year 1,136,849 1,304,343 Margin on derivatives (1,838) 1,258 Changes due to unitholder transactions (Note 4) Interest, dividends and other receivables (23) 247 Units outstanding beginning of year 72,385 74,098 Accrued expenses and other liabilities (22) 26 Units issued 5,081 5,719 Net cash provided by (used in) operating Units issued for reinvestment of distributions 7,278 4,399 activities 221,405 105,145 Units redeemed (16,714) (11,831) Cash flows from financing activities Units outstanding end of year 68,030 72,385 Proceeds from sale of units 97,655 101,375 Payments for units redeemed (317,759) (206,518) Net cash provided by (used in) financing activities (220,104) (105,143) Change in unrealized foreign exchange gain (loss) on currency 116 (40) Net increase (decrease) in cash 1,301 2 Cash (bank overdraft) beginning of year 44 82 Cash (bank overdraft) end of year 1,461 44 Supplemental information on cash flows from operating activities: Interest received, net of currency loss on foreign short term notes and foreign withholding taxes 2,541 (1,671) Dividends received, net of foreign withholding taxes 20,673 21,547 Interest paid 1 2

The accompanying notes are an integral part of the financial statements.

178 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND

SCHEDULE OF INVESTMENT PORTFOLIO PAR VALUE ($) (’000)/ As at December 31, 2018 NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 5,094 Vulcan Materials Co. 391 687 9,848 WestRock Co. 599 508 EQUITIES 98.0% United States 94.2% 17,981 24,486 Energy 4.9% Industrials 8.4% 19,526 Anadarko Petroleum Corp. 1,573 1,169 22,551 3M Co. 3,195 5,869 14,739 Apache Corp. 1,288 528 5,515 A. O. Smith Corp. 380 322 19,891 Baker Hughes, a GE Co. 1,106 584 4,810 Alaska Air Group, Inc. 413 400 16,685 Cabot Oil & Gas Corp. 461 509 15,790 American Airlines Group, Inc. 1,095 692 74,002 Chevron Corp. 8,408 10,996 8,940 AMETEK, Inc. 505 827 3,758 Cimarex Energy Co. 547 316 16,571 Arconic, Inc. 739 382 7,717 Concho Resources, Inc. 1,133 1,083 22,841 Caterpillar, Inc. 2,241 3,964 44,583 ConocoPhillips 2,881 3,797 5,342 CH Robinson Worldwide, Inc. 381 613 18,129 Devon Energy Corp. 1,079 558 3,368 Cintas Corp. 250 773 5,970 Diamondback Energy, Inc. 876 756 8,051 Copart, Inc. 597 525 22,457 EOG Resources, Inc. 1,858 2,675 31,066 CSX Corp. 907 2,636 163,978 Exxon Mobil Corp. 15,298 15,272 5,731 Cummins, Inc. 719 1,046 33,904 Halliburton Co. 1,621 1,231 12,468 Deere & Co. 1,228 2,540 4,256 Helmerich & Payne, Inc. 310 279 24,235 Delta Air Lines, Inc. 880 1,652 9,699 Hess Corp. 730 537 5,692 Dover Corp. 318 552 6,090 HollyFrontier Corp. 581 425 24,225 Emerson Electric Co. 1,550 1,977 73,671 Kinder Morgan, Inc. 2,980 1,548 4,643 Equifax, Inc. 365 591 32,188 Marathon Oil Corp. 851 630 6,722 Expeditors International of Washington, 26,755 Marathon Petroleum Corp. 1,603 2,156 Inc. 349 625 14,738 National Oilwell Varco, Inc. 931 517 11,065 Fastenal Co. 480 790 7,814 Newfield Exploration Co. 348 157 9,377 FedEx Corp. 1,375 2,066 18,616 Noble Energy, Inc. 934 477 5,119 Flowserve Corp. 297 266 29,235 Occidental Petroleum Corp. 2,652 2,451 5,471 Fluor Corp. 383 241 15,992 ONEOK, Inc. 902 1,178 11,385 Fortive Corp. 458 1,052 16,463 Phillips 66 1,105 1,937 5,582 Fortune Brands Home & Security, Inc. 407 290 6,627 Pioneer Natural Resources Co. 1,070 1,190 10,786 General Dynamics Corp. 1,241 2,316 16,474 Valero Energy Corp. 795 1,687 336,955 General Electric Co. 9,639 3,484 46,977 Williams Cos., Inc. 1,760 1,415 4,531 Harris Corp. 342 833 55,681 56,058 28,685 Honeywell International, Inc. 2,622 5,176 1,658 Huntington Ingalls Industries, Inc. 473 431 Materials 2.2% 11,829 Illinois Tool Works, Inc. 993 2,047 8,509 Air Products & Chemicals, Inc. 1,138 1,860 4,586 Jacobs Engineering Group, Inc. 272 366 4,141 Albemarle Corp. 431 436 3,369 JB Hunt Transport Services, Inc. 352 428 3,349 Avery Dennison Corp. 193 411 3,937 Kansas City Southern 477 513 13,076 Ball Corp. 438 821 3,067 L3 Technologies, Inc. 369 727 5,185 Celanese Corp. 611 637 9,587 Lockheed Martin Corp. 1,566 3,428 8,948 CF Industries Holdings, Inc. 393 532 11,866 Masco Corp. 261 474 88,938 DowDuPont, Inc. 4,620 6,496 10,547 Norfolk Southern Corp. 952 2,154 5,451 Eastman Chemical Co. 385 544 6,712 Northrop Grumman Corp. 861 2,245 9,851 Ecolab, Inc. 952 1,983 13,526 PACCAR, Inc. 805 1,056 5,193 FMC Corp. 318 525 5,104 Parker-Hannifin Corp. 579 1,040 55,850 Freeport-McMoRan, Inc. 1,598 787 5,730 Quanta Services, Inc. 175 236 3,922 International Flavors & Fragrances, Inc. 441 719 11,046 Raytheon Co. 1,040 2,313 15,781 International Paper Co. 764 870 8,399 Republic Services, Inc. 327 827 2,430 Martin Marietta Materials, Inc. 390 570 4,722 Robert Half International, Inc. 214 369 13,679 Mosaic Co. 703 546 4,675 Rockwell Automation, Inc. 514 961 20,562 Newmont Mining Corp. 803 973 5,646 Rollins, Inc. 295 278 12,196 Nucor Corp. 622 863 4,014 Roper Industries, Inc. 610 1,461 3,698 Packaging Corporation of America 501 422 2,166 Snap-on, Inc. 245 430 9,249 PPG Industries, Inc. 797 1,291 19,613 Southwest Airlines Co. 540 1,245 6,097 Sealed Air Corp. 226 290 5,830 Stanley Black & Decker, Inc. 564 953 3,191 The Sherwin-Williams Co. 667 1,715 9,408 Textron, Inc. 369 591 20,459 The Boeing Co. 2,641 9,012 1,891 TransDigm Group, Inc. 664 878

The accompanying notes are an integral part of the financial statements.

179 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 28,561 Union Pacific Corp. 2,328 5,392 8,996 The Goodyear Tire & Rubber Co. 236 251 8,821 United Continental Holdings, Inc. 677 1,009 43,754 The Home Depot, Inc. 3,723 10,268 26,934 United Parcel Service, Inc., Class B 2,775 3,588 47,930 The TJX Cos., Inc. 1,305 2,929 3,109 United Rentals, Inc. 389 435 4,200 Tiffany & Co. 378 462 31,444 United Technologies Corp. 3,565 4,573 4,760 Tractor Supply Co. 412 543 6,352 Verisk Analytics, Inc., Class A 688 946 2,189 Ulta Salon Cosmetics & Fragrance, Inc. 579 732 15,199 Waste Management, Inc. 757 1,847 7,323 Under Armour, Inc., Class A 478 177 1,782 WW Grainger, Inc. 383 687 7,389 Under Armour, Inc., Class C 10 163 6,913 Xylem, Inc. 259 630 12,642 VF Corp. 695 1,232 2,459 Whirlpool Corp. 362 359 61,335 96,070 3,769 Wynn Resorts Ltd. 610 509 Consumer Discretionary 9.4% 12,106 Yum! Brands, Inc. 858 1,520 2,837 Advance Auto Parts, Inc. 570 610 51,976 106,586 15,910 Amazon.com, Inc. 7,846 32,638 977 AutoZone, Inc. 492 1,119 Consumer Staples 7.2% 9,072 Best Buy Co., Inc. 349 656 72,818 Altria Group, Inc. 3,066 4,912 1,795 Booking Holdings, Inc. 1,830 4,223 21,768 Archer-Daniels-Midland Co. 912 1,218 8,021 BorgWarner, Inc. 409 381 6,464 Brown-Forman Corp., Class B 220 420 6,809 CarMax, Inc. 333 583 7,522 Campbell Soup Co. 366 339 941 Chipotle Mexican Grill, Inc. 474 555 9,584 Church & Dwight Co., Inc. 572 861 4,783 Darden Restaurants, Inc. 295 652 33,588 Colgate-Palmolive Co. 2,133 2,730 10,157 Dollar General Corp. 718 1,499 18,801 Conagra Brands, Inc. 652 548 9,170 Dollar Tree, Inc. 639 1,131 6,424 Constellation Brands, Inc. 604 1,411 13,232 DR Horton, Inc. 372 626 16,977 Costco Wholesale Corp. 2,141 4,723 35,057 eBay, Inc. 765 1,344 17,701 Coty, Inc. 545 159 4,583 Expedia, Inc. 471 705 8,514 Estee Lauder Cos., Inc. 630 1,513 4,409 Foot Locker, Inc. 360 320 23,184 General Mills, Inc. 1,197 1,233 150,961 Ford Motor Co. 2,458 1,577 5,464 Hershey Co. 503 800 8,195 Gap, Inc. 297 288 10,482 Hormel Foods Corp. 263 611 50,878 General Motors Co. 2,098 2,324 9,756 Kellogg Co. 652 760 5,669 Genuine Parts Co. 464 743 13,405 Kimberly-Clark Corp. 1,401 2,086 8,136 H&R Block, Inc. 236 282 24,148 Kraft Heinz Co. 1,419 1,420 14,094 Hanesbrands, Inc. 590 241 5,623 Lamb Weston Holdings, Inc. 573 565 6,378 Harley-Davidson, Inc. 386 297 4,732 McCormick & Co., Inc. 355 900 4,502 Hasbro, Inc. 280 500 7,217 Molson Coors Brewing Co. 538 554 11,495 Hilton Worldwide Holdings, Inc. 1,090 1,127 56,295 Mondelez International, Inc., Class A 1,874 3,078 6,426 Kohl’s Corp. 405 582 15,497 Monster Beverage Corp. 569 1,042 8,988 L Brands, Inc. 568 315 54,667 PepsiCo, Inc. 4,890 8,249 4,958 Leggett & Platt, Inc. 182 243 60,202 Philip Morris International, Inc. 5,058 5,489 11,252 Lennar Corp., Class A 615 602 18,560 Sysco Corp. 721 1,588 12,248 LKQ Corp. 506 397 4,936 The Clorox Co. 498 1,039 31,104 Lowe’s Cos., Inc. 1,633 3,924 148,369 The Coca-Cola Co. 6,243 9,595 11,833 Macy’s, Inc. 550 481 4,435 The JM Smucker Co. 493 566 10,976 Marriott International, Inc., Class A 780 1,627 30,999 The Kroger Co. 743 1,164 13,366 Mattel, Inc. 444 182 96,496 The Procter & Gamble Co. 8,089 12,115 29,856 McDonald’s Corp. 2,903 7,241 11,408 Tyson Foods, Inc., Class A 471 832 19,368 MGM Resorts International 822 642 31,140 Walgreens Boots Alliance, Inc. 2,185 2,906 2,447 Mohawk Industries, Inc. 454 391 55,153 Wal-Mart Stores, Inc. 4,250 7,017 16,671 Newell Rubbermaid, Inc. 793 423 54,826 82,443 49,350 Nike, Inc., Class B 1,982 4,997 4,405 Nordstrom, Inc. 265 280 Health Care 14.4% 3,106 O’Reilly Automotive, Inc. 441 1,461 68,029 Abbott Laboratories 2,956 6,720 9,933 PulteGroup, Inc. 199 353 58,266 AbbVie, Inc. 3,079 7,336 2,943 PVH Corp. 378 374 1,758 ABIOMED, Inc. 876 780 2,100 Ralph Lauren Corp. 309 297 12,288 Agilent Technologies, Inc. 642 1,132 14,507 Ross Stores, Inc. 524 1,649 8,669 Alexion Pharmaceuticals, Inc. 1,403 1,153 48,064 Starbucks Corp. 1,822 4,228 2,817 Align Technology, Inc. 562 806 11,101 Tapestry, Inc. 575 512 6,066 AmerisourceBergen Corp. 427 616 20,156 Target Corp. 1,358 1,819 24,679 Amgen, Inc. 3,025 6,562

The accompanying notes are an integral part of the financial statements.

180 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 10,021 Anthem, Inc. 1,167 3,595 2,053 Assurant, Inc. 132 251 19,151 Baxter International, Inc. 781 1,722 353,594 Bank of America Corp. 6,748 11,900 10,389 Becton Dickinson and Co. 1,671 3,197 35,254 Bank of New York Mellon Corp. 1,398 2,266 7,803 Biogen, Inc. 1,855 3,207 29,845 BB&T Corp. 1,226 1,766 53,596 Boston Scientific Corp. 911 2,587 75,358 Berkshire Hathaway, Inc., Class B 10,051 21,015 63,230 Bristol-Myers Squibb Co. 3,414 4,489 4,706 BlackRock, Inc. 1,478 2,525 11,543 Cardinal Health, Inc. 824 703 4,725 Brighthouse Financial, Inc. 289 197 27,110 Celgene Corp. 2,258 2,373 18,333 Capital One Financial Corp. 1,370 1,893 7,982 Centene Corp. 779 1,257 4,309 Cboe Global Markets, Inc. 471 576 12,683 Cerner Corp. 735 908 5,828 Cincinnati Financial Corp. 329 616 14,746 Cigna Corp. 2,176 3,825 94,623 Citigroup, Inc. 5,951 6,728 50,095 CVS Health Corp. 3,863 4,483 18,070 Citizens Financial Group, Inc. 549 734 23,887 Danaher Corp. 1,483 3,364 13,857 CME Group, Inc. 1,433 3,560 4,857 DaVita, Inc. 300 341 6,274 Comerica, Inc. 322 589 8,711 Dentsply Sirona, Inc. 542 443 13,023 Discover Financial Services 610 1,049 8,123 Edwards Lifesciences Corp. 474 1,699 9,821 E*TRADE Financial Corp. 264 589 36,520 Eli Lilly & Co. 2,417 5,772 25,328 Fifth Third Bancorp 584 814 50,106 Gilead Sciences, Inc. 3,355 4,281 6,464 First Republic Bank 767 767 10,406 HCA Holdings, Inc. 963 1,769 11,488 Franklin Resources, Inc. 573 465 5,899 Henry Schein, Inc. 534 633 41,129 Huntington Bancshares, Inc. 467 670 10,494 Hologic, Inc. 486 589 22,100 Intercontinental Exchange, Inc. 1,024 2,274 5,311 Humana, Inc. 638 2,078 10,999 Jefferies Financial Group, Inc. 332 261 3,338 IDEXX Laboratories, Inc. 523 848 128,822 JPMorgan Chase & Co. 7,921 17,176 5,693 Illumina, Inc. 1,358 2,332 39,976 KeyCorp 594 807 6,800 Incyte Corp. 1,166 591 8,349 Lincoln National Corp. 422 585 4,423 Intuitive Surgical, Inc. 851 2,893 10,708 Loews Corp. 506 666 6,134 IQVIA Holdings, Inc. 763 973 5,438 M&T Bank Corp. 711 1,063 103,883 Johnson & Johnson 10,071 18,310 19,466 Marsh & McLennan Cos., Inc. 1,009 2,120 3,929 Laboratory Corp. of America Holdings 469 678 38,128 MetLife, Inc. 1,802 2,138 7,570 McKesson Corp. 1,218 1,142 6,437 Moody’s Corp. 484 1,231 100,730 Merck & Co., Inc. 5,500 10,512 50,660 Morgan Stanley 1,874 2,743 972 Mettler-Toledo International, Inc. 514 751 3,426 MSCI, Inc. 639 690 6,639 Nektar Therapeutics 866 298 4,441 Nasdaq, Inc. 205 495 4,325 PerkinElmer, Inc. 195 464 8,605 Northern Trust Corp. 634 982 223,920 Pfizer, Inc. 7,265 13,349 14,653 People’s United Financial, Inc. 258 289 5,272 Quest Diagnostics, Inc. 358 600 10,205 Principal Financial Group, Inc. 495 616 3,009 Regeneron Pharmaceuticals, Inc. 1,146 1,535 22,600 Progressive Corp. 685 1,862 5,503 ResMed, Inc. 535 856 15,972 Prudential Financial, Inc. 1,335 1,779 12,026 Stryker Corp. 1,119 2,575 4,947 Raymond James Financial, Inc. 516 503 1,894 The Cooper Cos., Inc. 465 658 40,099 Regions Financial Corp. 457 733 15,593 Thermo Fisher Scientific, Inc. 1,864 4,766 9,743 S&P Global, Inc. 828 2,261 37,263 UnitedHealth Group, Inc. 3,543 12,679 14,759 State Street Corp. 1,084 1,271 3,321 Universal Health Services, Inc. 437 529 17,415 SunTrust Banks, Inc. 750 1,200 3,497 Varian Medical Systems, Inc. 261 541 2,051 SVB Financial Group 711 532 9,901 Vertex Pharmaceuticals, Inc. 1,087 2,241 25,628 Synchrony Financial 1,044 821 2,926 Waters Corp. 327 754 9,281 T. Rowe Price Group, Inc. 742 1,170 1,926 WellCare Health Plans, Inc. 757 621 46,567 The Charles Schwab Corp. 1,346 2,641 7,921 Zimmer Biomet Holdings, Inc. 868 1,122 13,404 The Goldman Sachs Group, Inc. 2,496 3,058 18,573 Zoetis, Inc. 796 2,170 13,998 The Hartford Financial Services Group, Inc. 582 850 17,893 The PNC Financial Services Group, Inc. 1,625 2,857 88,918 163,208 10,244 The Travelers Cos., Inc. 898 1,675 Financials 12.5% 3,927 Torchmark Corp. 188 400 2,059 Affiliated Managers Group, Inc. 464 274 58,838 U.S. Bancorp 2,425 3,672 29,579 Aflac, Inc. 951 1,840 8,417 Unum Group 285 338 13,338 Allstate Corp. 769 1,505 164,114 Wells Fargo & Co. 8,130 10,329 27,131 American Express Co. 2,064 3,532 7,487 Zions Bancorporation 249 417 34,234 American International Group, Inc. 2,215 1,843 87,761 141,957 5,391 Ameriprise Financial, Inc. 536 768 7,149 Arthur J Gallagher & Co. 464 720

The accompanying notes are an integral part of the financial statements.

181 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) Information Technology 19.1% 16,975 The Western Union Co. 350 396 18,909 Adobe Systems, Inc. 1,374 5,843 6,468 Total System Services, Inc. 245 718 34,064 Advanced Micro Devices, Inc. 643 859 4,135 VeriSign, Inc. 361 837 6,305 Akamai Technologies, Inc. 363 526 68,071 Visa, Inc., Class A 3,679 12,267 1,809 Alliance Data Systems Corp. 543 371 11,233 Western Digital Corp. 830 567 11,679 Amphenol Corp., Class A 550 1,292 8,012 Xerox Corp. 286 216 14,323 Analog Devices, Inc. 946 1,679 9,842 Xilinx, Inc. 471 1,145 3,250 ANSYS, Inc. 527 634 101,878 217,510 174,629 Apple, Inc. 14,892 37,622 38,142 Applied Materials, Inc. 847 1,706 Communication Services 9.9% 2,030 Arista Networks, Inc. 789 584 29,562 Activision Blizzard, Inc. 1,479 1,880 8,490 Autodesk, Inc. 565 1,491 11,581 Alphabet, Inc., Class A 10,298 16,528 16,956 Automatic Data Processing, Inc. 1,320 3,037 11,917 Alphabet, Inc., Class C 3,837 16,856 16,013 Broadcom Ltd. 3,279 5,561 281,922 AT&T, Inc. 10,951 10,989 4,486 Broadridge Financial Solutions, Inc. 677 590 13,060 CBS Corp., Class B 632 780 10,850 Cadence Design Systems, Inc. 507 644 36,651 CenturyLink, Inc. 1,214 758 174,155 Cisco Systems, Inc. 4,650 10,306 6,826 Charter Communications, Inc. 2,477 2,657 4,969 Citrix Systems, Inc. 343 695 175,850 Comcast Corp., Class A 4,681 8,178 22,493 Cognizant Technology Solutions Corp. 1,178 1,950 5,950 Discovery Communications, Inc., Class A 327 201 30,952 Corning, Inc. 685 1,277 14,090 Discovery Communications, Inc., Class C 525 444 10,839 DXC Technology Co. 705 787 8,920 DISH Network Corp. 743 304 2,344 F5 Networks, Inc. 289 519 11,749 Electronic Arts, Inc. 573 1,266 12,676 Fidelity National Information Services, Inc. 805 1,775 93,062 Facebook, Inc. 8,780 16,662 15,439 Fiserv, Inc. 449 1,550 15,011 Interpublic Group of Cos., Inc. 296 423 3,453 FleetCor Technologies, Inc. 1,006 876 16,892 Netflix, Inc. 1,244 6,175 5,276 FLIR Systems, Inc. 188 314 15,136 News Corp., Class A 229 235 5,609 Fortinet, Inc. 579 540 4,535 News Corp., Class B 80 72 3,493 Gartner, Inc. 510 610 8,653 Omnicom Group, Inc. 615 866 6,096 Global Payments, Inc. 585 859 4,388 Take-Two Interactive Software, Inc. 617 617 55,119 Hewlett Packard Enterprise Co. 641 994 3,985 TripAdvisor, Inc. 280 294 61,404 HP, Inc. 2,183 1,716 40,881 Twenty-First Century Fox, Inc., Class A 1,180 2,687 176,777 Intel Corp. 5,413 11,331 18,926 Twenty-First Century Fox, Inc., Class B 705 1,235 35,183 International Business Machines Corp. 6,328 5,462 28,012 Twitter, Inc. 1,411 1,100 10,052 Intuit, Inc. 939 2,703 160,073 Verizon Communications, Inc. 8,275 12,291 1,419 IPG Photonics Corp. 442 220 13,826 Viacom, Inc., Class B 992 485 3,021 Jack Henry & Associates, Inc. 564 522 57,661 Walt Disney Co. 4,661 8,635 13,441 Juniper Networks, Inc. 418 494 67,102 112,618 7,324 Keysight Technologies, Inc. 559 621 5,923 KLA-Tencor Corp. 385 724 Utilities 3.3% 6,009 Lam Research Corp. 426 1,118 25,846 AES Corp. 391 510 35,204 MasterCard, Inc., Class A 2,584 9,071 9,183 Alliant Energy Corp. 477 530 10,654 Maxim Integrated Products, Inc. 792 740 9,398 Ameren Corp. 411 837 9,197 Microchip Technology, Inc. 525 903 19,095 American Electric Power Co., Inc. 1,051 1,949 43,395 Micron Technology, Inc. 1,091 1,881 6,955 American Water Works Co., Inc. 638 862 299,390 Microsoft Corp. 13,551 41,533 19,429 CenterPoint Energy, Inc. 474 749 6,334 Motorola Solutions, Inc. 442 995 10,911 CMS Energy Corp. 366 740 9,755 NetApp, Inc. 440 795 12,091 Consolidated Edison, Inc. 809 1,263 23,629 NVIDIA Corp. 1,259 4,308 25,426 Dominion Resources, Inc. 1,800 2,482 104,202 Oracle Corp. 4,140 6,426 7,075 DTE Energy Co. 544 1,066 12,345 Paychex, Inc. 586 1,098 27,607 Duke Energy Corp. 2,100 3,254 45,622 PayPal Holdings, Inc. 1,808 5,240 12,689 Edison International 718 984 4,820 Qorvo, Inc. 481 400 7,042 Entergy Corp. 557 828 46,952 QUALCOMM, Inc. 3,234 3,649 10,192 Evergy, Inc. 712 790 6,837 Red Hat, Inc. 431 1,640 12,205 Eversource Energy 588 1,084 29,633 Salesforce.com, Inc. 2,400 5,544 37,451 Exelon Corp. 1,483 2,307 6,898 Skyworks Solutions, Inc. 815 631 18,724 FirstEnergy Corp. 773 960 24,755 Symantec Corp. 620 639 18,510 NextEra Energy, Inc. 1,879 4,394 5,815 Synopsys, Inc. 552 669 13,947 NiSource, Inc. 454 483 37,193 Texas Instruments, Inc. 1,813 4,800 11,234 NRG Energy, Inc. 307 608

The accompanying notes are an integral part of the financial statements.

182 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 19,924 PG&E Corp. 1,079 646 Industrials 0.6% 4,370 Pinnacle West Capital Corp. 267 509 3,714 Allegion PLC 222 404 27,898 PPL Corp. 930 1,080 16,825 Eaton Corp PLC 1,132 1,578 19,620 Public Service Enterprise Group, Inc. 785 1,395 13,918 IHS Markit Ltd. 866 912 5,583 SCANA Corp. 307 364 9,549 Ingersoll-Rand PLC 593 1,190 10,609 Sempra Energy 1,057 1,568 35,915 Johnson Controls International PLC 1,984 1,455 39,846 The Southern Co. 1,971 2,390 13,712 Nielsen Holdings PLC 658 437 12,266 WEC Energy Group, Inc. 624 1,160 6,228 Pentair PLC 504 321 19,897 Xcel Energy, Inc. 695 1,339 5,959 6,297 24,247 37,131 Consumer Discretionary 0.3% Real Estate 2.9% 10,212 Aptiv PLC 665 859 4,167 Alexandria Real Estate Equities, Inc. 624 656 15,546 Carnival Corp. 781 1,047 17,066 American Tower Corp., Class A 1,561 3,687 4,631 Garmin Ltd. 245 401 5,973 Apartment Investment & Management 5,754 Michael Kors Holdings Ltd. 497 298 Co. 217 358 8,521 Norwegian Cruise Line Holdings Ltd. 612 493 5,374 AvalonBay Communities, Inc. 894 1,277 6,606 Royal Caribbean Cruises Ltd. 656 882 5,954 Boston Properties, Inc. 743 915 3,456 3,980 12,385 CBRE Group, Inc. 417 677 16,072 Crown Castle International Corp. 1,435 2,385 Health Care 0.9% 8,020 Digital Realty Trust, Inc. 1,034 1,167 12,298 Allergan PLC 3,600 2,245 13,958 Duke Realty Corp. 485 494 52,051 Medtronic PLC 3,922 6,466 3,114 Equinix, Inc. 1,150 1,499 19,876 Mylan NV 934 744 14,319 Equity Residential 995 1,291 4,832 Perrigo Co. PLC 848 256 2,547 Essex Property Trust, Inc. 583 853 9,304 9,711 4,880 Extra Space Storage, Inc. 602 603 Financials 0.6% 2,860 Federal Realty Investment Trust 601 461 9,351 Aon PLC 759 1,857 18,504 HCP, Inc. 781 706 17,848 Chubb Ltd. 2,137 3,149 28,602 Host Hotels & Resorts, Inc. 597 651 1,558 Everest Re Group Ltd. 527 463 11,013 Iron Mountain, Inc. 425 488 15,838 Invesco Ltd. 551 362 16,085 Kimco Realty Corp. 408 322 5,040 Willis Towers Watson PLC 883 1,045 4,069 Macerich Co. 314 241 4,431 Mid-America Apartment Communities, 4,857 6,876 Inc. 530 579 Information Technology 0.6% 24,398 Prologis, Inc. 1,278 1,957 24,697 Accenture PLC 2,334 4,756 5,816 Public Storage 1,050 1,608 10,079 Seagate Technology PLC 470 531 11,430 Realty Income Corp. 758 984 13,289 TE Connectivity Ltd. 758 1,373 6,521 Regency Centers Corp. 586 523 4,379 SBA Communications Corp. 844 968 3,562 6,660 11,982 Simon Property Group, Inc. 1,996 2,749 37,184 42,541 3,305 SL Green Realty Corp. 545 357 674,485 1,113,565 10,672 UDR, Inc. 501 577 13,878 Ventas, Inc. 970 1,111 SHORT-TERM INVESTMENTS 1.7% 6,756 Vornado Realty Trust 701 572 USD 14,400 Federal Home Loan Bank Discount Notes, 14,551 Welltower, Inc. 1,039 1,379 1.06%, Jan 02, 2019 19,666 19,666 28,856 Weyerhaeuser Co. 932 862 Investments 694,151 1,133,231 25,596 32,957 Transaction costs (62) 637,301 1,071,024 Total investments 694,089 1,133,231 Global 3.8% Derivative liabilities (0.1%) (717) Energy 0.3% Other assets less liabilities 0.4% 4,335 53,639 Schlumberger Ltd. 4,783 2,643 16,452 TechnipFMC PLC 740 440 Net assets attributable to unitholders 100.0% 1,136,849 5,523 3,083 Materials 0.5% 21,346 Linde PLC 3,578 4,549 12,190 LyondellBasell Industries NV 945 1,385 4,523 5,934

The accompanying notes are an integral part of the financial statements.

183 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Equities United States Energy 4.9 5.5 Materials 2.2 2.8 Industrials 8.4 9.2 Consumer Discretionary 9.4 11.4 Consumer Staples 7.2 8.0 Health Care 14.4 12.6 Financials 12.5 13.9 Information Technology 19.1 22.2 Communication Services 9.9 2.0 Utilities 3.3 2.9 Real Estate 2.9 2.7 Global Energy 0.3 0.5 Materials 0.5 0.2 Industrials 0.6 0.6 Consumer Discretionary 0.3 0.4 Health Care 0.9 0.8 Financials 0.6 0.7 Information Technology 0.6 1.0 Short-Term Investments 1.7 2.2 Derivative liabilities (0.1) - Other assets less liabilities 0.4 0.4 100.0 100.0

FUTURES CONTRACTS (0.1%) Commitment Unrealized No. of Contract Futures Delivery amount Price as at gain/(loss) contracts price contracts date ($) (’000) December 31, 2018 (CAD $) (’000) 137 USD 2,581.87 S&P 500 Index EMNI Futures Mar 15, 2019 USD 17,161 USD 2,505.20 (717) Derivative liabilities (717)

The accompanying notes are an integral part of the financial statements.

184 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE) MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE)

Assets Income Current assets Interest for distribution purposes, net of currency loss Investments, at fair value 710,463 793,042 on foreign short term notes 1,627 (819) Cash 953 175 Dividend income 15,983 14,531 Margin deposited on derivatives 2,807 1,670 Foreign exchange gain (loss) on income 74 (52) Subscriptions receivable 1,026 10,315 Foreign exchange gain (loss) on currency 1,956 (366) Receivable from investments sold - 799 Income from securities lending 4 12 Interest, dividends and other receivables 809 768 Other income (loss) - 4 Realized gain (loss) on sales of investments 39,124 16,097 Derivative assets - 48 Realized gain (loss) on derivatives (2,901) 4,211 716,058 806,817 Change in unrealized appreciation (depreciation) in Liabilities the value of investments (16,258) 55,789 Change in unrealized appreciation (depreciation) in Current liabilities Redemptions payable 50 - the value of derivatives (1,268) 135 Payable on investments purchased 472 17,076 38,341 89,542 Accrued expenses and other liabilities 40 42 Expenses Derivative liabilities 1,247 27 Audit fees 6 8 1,809 17,145 Transfer agent fees 4 3 Interest expense & bank charges 1 2 Net assets attributable to unitholders 714,249 789,672 Unitholder reporting costs 52 36 Net assets attributable to unitholders per unit Custodial fees 104 112 11.50 11.98 Foreign withholding taxes - (60) Transaction costs 22 40 189 141 Increase (decrease) in net assets attributable to unitholders 38,152 89,401 Increase (decrease) in net assets attributable to unitholders per unit 0.61 1.48

The accompanying notes are an integral part of the financial statements.

185 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE) MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE)

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS STATEMENTS OF CASH FLOWS

For the years ended December 31 2018 2017 For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts) ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - Cash flows from operating activities beginning of year 789,672 674,464 Increase (decrease) in net assets attributable to Increase (decrease) in net assets attributable to unitholders 38,152 89,401 unitholders 38,152 89,401 Distribution to unitholders from: Adjustments for: Net investment income (16,835) (18,635) Change in unrealized foreign exchange gain (loss) Net realized gains (39,054) (14,798) on currency (96) 45 Realized gain (loss) on sales of investments (39,124) (16,097) Total distributions to unitholders (55,889) (33,433) Realized gain (loss) on derivatives 2,901 (4,211) Security transactions Change in unrealized appreciation (depreciation) in Proceeds from units issued 91,547 191,798 the value of investments 16,258 (55,789) Reinvestments of distributions to unitholders 55,889 33,433 Change in unrealized appreciation (depreciation) in Redemption of units (205,122) (165,991) the value of derivatives 1,268 (135) Total security transactions (57,686) 59,240 Purchases of investments (4,016,193) (721,832) Proceeds from disposition of investments 4,102,932 693,205 Net assets attributable to unitholders - end of year 714,249 789,672 Margin on derivatives (1,137) (215) Changes due to unitholder transactions (Note 4) Interest, dividends and other receivables (41) 22 Units outstanding beginning of year 65,902 61,290 Accrued expenses and other liabilities (2) 4 Units issued 7,169 16,317 Net cash provided by (used in) operating Units issued for reinvestment of distributions 4,861 2,790 activities 104,918 (15,602) Units redeemed (15,811) (14,495) Cash flows from financing activities Units outstanding end of year 62,121 65,902 Proceeds from sale of units 100,836 182,300 Payments for units redeemed (205,072) (167,020) Net cash provided by (used in) financing activities (104,236) 15,280 Change in unrealized foreign exchange gain (loss) on currency 96 (45) Net increase (decrease) in cash 682 (322) Cash (bank overdraft) beginning of year 175 542 Cash (bank overdraft) end of year 953 175 Supplemental information on cash flows from operating activities: Interest received, net of currency loss on foreign short term notes and foreign withholding taxes 1,627 (819) Dividends received, net of foreign withholding taxes 15,942 14,560 Interest paid 1 2

The accompanying notes are an integral part of the financial statements.

186 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE) MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE)

SCHEDULE OF INVESTMENT PORTFOLIO PAR VALUE ($) (’000)/ As at December 31, 2018 NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 3,131 Vulcan Materials Co. 453 422 6,038 WestRock Co. 321 311 EQUITIES 95.7% United States 92.0% 13,377 15,026 Energy 4.8% Industrials 8.2% 11,992 Anadarko Petroleum Corp. 837 718 13,843 3M Co. 3,048 3,603 9,053 Apache Corp. 627 325 3,421 A. O. Smith Corp. 238 200 12,271 Baker Hughes, a GE Co. 650 360 2,915 Alaska Air Group, Inc. 234 242 10,220 Cabot Oil & Gas Corp. 315 312 9,701 American Airlines Group, Inc. 397 425 45,422 Chevron Corp. 6,038 6,749 5,489 AMETEK, Inc. 343 508 2,257 Cimarex Energy Co. 328 190 10,173 Arconic, Inc. 361 234 4,740 Concho Resources, Inc. 777 666 14,026 Caterpillar, Inc. 1,481 2,434 27,372 ConocoPhillips 1,546 2,331 3,279 CH Robinson Worldwide, Inc. 312 377 11,081 Devon Energy Corp. 528 341 2,068 Cintas Corp. 266 475 3,668 Diamondback Energy, Inc. 536 464 4,944 Copart, Inc. 366 323 13,788 EOG Resources, Inc. 1,490 1,642 19,080 CSX Corp. 713 1,619 100,644 Exxon Mobil Corp. 11,291 9,372 3,516 Cummins, Inc. 518 642 20,826 Halliburton Co. 1,155 756 7,652 Deere & Co. 913 1,559 2,578 Helmerich & Payne, Inc. 208 169 14,890 Delta Air Lines, Inc. 692 1,015 5,958 Hess Corp. 403 330 3,496 Dover Corp. 247 339 3,739 HollyFrontier Corp. 356 261 14,875 Emerson Electric Co. 995 1,214 45,240 Kinder Morgan, Inc. 1,142 950 2,850 Equifax, Inc. 428 363 19,777 Marathon Oil Corp. 393 387 4,126 Expeditors International of Washington, 16,418 Marathon Petroleum Corp. 1,082 1,323 Inc. 259 384 9,056 National Oilwell Varco, Inc. 402 318 6,792 Fastenal Co. 386 485 4,730 Newfield Exploration Co. 241 95 5,758 FedEx Corp. 1,170 1,269 11,435 Noble Energy, Inc. 496 293 3,097 Flowserve Corp. 174 161 17,951 Occidental Petroleum Corp. 1,686 1,505 3,328 Fluor Corp. 206 146 9,823 ONEOK, Inc. 622 724 6,990 Fortive Corp. 457 646 10,109 Phillips 66 1,012 1,190 3,371 Fortune Brands Home & Security, Inc. 255 175 4,071 Pioneer Natural Resources Co. 798 731 6,623 General Dynamics Corp. 1,216 1,422 10,116 Valero Energy Corp. 708 1,036 206,828 General Electric Co. 7,330 2,138 28,848 Williams Cos., Inc. 923 869 2,781 Harris Corp. 311 511 36,590 34,407 17,614 Honeywell International, Inc. 2,565 3,178 1,025 Huntington Ingalls Industries, Inc. 293 266 Materials 2.1% 7,261 Illinois Tool Works, Inc. 983 1,256 5,222 Air Products & Chemicals, Inc. 928 1,142 2,821 Jacobs Engineering Group, Inc. 182 225 2,504 Albemarle Corp. 280 264 2,070 JB Hunt Transport Services, Inc. 225 263 2,069 Avery Dennison Corp. 197 254 2,418 Kansas City Southern 274 315 8,031 Ball Corp. 365 504 1,882 L3 Technologies, Inc. 354 446 3,183 Celanese Corp. 375 391 5,885 Lockheed Martin Corp. 1,825 2,105 5,526 CF Industries Holdings, Inc. 192 328 7,277 Masco Corp. 274 291 54,516 DowDuPont, Inc. 3,700 3,982 6,478 Norfolk Southern Corp. 733 1,323 3,344 Eastman Chemical Co. 297 334 4,121 Northrop Grumman Corp. 1,153 1,378 6,051 Ecolab, Inc. 897 1,218 8,297 PACCAR, Inc. 562 648 3,186 FMC Corp. 206 322 3,133 Parker-Hannifin Corp. 454 638 34,295 Freeport-McMoRan, Inc. 559 483 3,522 Quanta Services, Inc. 113 145 2,396 International Flavors & Fragrances, Inc. 385 439 6,752 Raytheon Co. 1,187 1,414 9,677 International Paper Co. 526 533 5,159 Republic Services, Inc. 341 508 1,491 Martin Marietta Materials, Inc. 356 350 2,898 Robert Half International, Inc. 137 226 8,393 Mosaic Co. 294 335 2,870 Rockwell Automation, Inc. 430 590 12,625 Newmont Mining Corp. 610 597 3,486 Rollins, Inc. 182 172 7,487 Nucor Corp. 475 530 2,465 Roper Industries, Inc. 563 897 2,237 Packaging Corporation of America 306 255 1,335 Snap-on, Inc. 253 265 5,728 PPG Industries, Inc. 721 800 12,040 Southwest Airlines Co. 607 764 3,759 Sealed Air Corp. 208 179 3,578 Stanley Black & Decker, Inc. 506 585 1,959 The Sherwin-Williams Co. 726 1,053 5,773 Textron, Inc. 279 363 12,558 The Boeing Co. 2,270 5,531 1,161 TransDigm Group, Inc. 391 539

The accompanying notes are an integral part of the financial statements.

187 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE) MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE)

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 17,503 Union Pacific Corp. 1,957 3,304 5,610 The Goodyear Tire & Rubber Co. 183 156 5,420 United Continental Holdings, Inc. 324 620 26,855 The Home Depot, Inc. 4,366 6,302 16,530 United Parcel Service, Inc., Class B 2,205 2,202 29,429 The TJX Cos., Inc. 1,365 1,798 1,908 United Rentals, Inc. 197 267 2,579 Tiffany & Co. 234 284 19,300 United Technologies Corp. 2,573 2,807 2,883 Tractor Supply Co. 328 329 3,898 Verisk Analytics, Inc., Class A 414 581 1,344 Ulta Salon Cosmetics & Fragrance, Inc. 417 449 9,335 Waste Management, Inc. 777 1,135 4,404 Under Armour, Inc., Class A 195 106 1,094 WW Grainger, Inc. 311 422 4,515 Under Armour, Inc., Class C 152 100 4,251 Xylem, Inc. 248 387 7,765 VF Corp. 579 757 1,528 Whirlpool Corp. 304 223 49,458 58,965 2,314 Wynn Resorts Ltd. 321 313 Consumer Discretionary 9.2% 7,429 Yum! Brands, Inc. 725 933 1,721 Advance Auto Parts, Inc. 338 370 46,909 65,429 9,765 Amazon.com, Inc. 9,850 20,032 600 AutoZone, Inc. 562 687 Consumer Staples 7.1% 5,570 Best Buy Co., Inc. 242 403 44,716 Altria Group, Inc. 3,793 3,016 1,101 Booking Holdings, Inc. 1,783 2,590 13,366 Archer-Daniels-Midland Co. 687 748 4,944 BorgWarner, Inc. 209 235 3,989 Brown-Forman Corp., Class B 200 259 4,179 CarMax, Inc. 257 358 4,554 Campbell Soup Co. 349 205 579 Chipotle Mexican Grill, Inc. 292 341 5,885 Church & Dwight Co., Inc. 380 528 2,937 Darden Restaurants, Inc. 257 401 20,619 Colgate-Palmolive Co. 1,842 1,676 6,236 Dollar General Corp. 710 920 11,550 Conagra Brands, Inc. 626 337 5,688 Dollar Tree, Inc. 650 702 3,944 Constellation Brands, Inc. 779 866 8,121 DR Horton, Inc. 325 384 10,422 Costco Wholesale Corp. 2,090 2,900 21,518 eBay, Inc. 676 825 10,662 Coty, Inc. 312 95 2,814 Expedia, Inc. 379 433 5,226 Estee Lauder Cos., Inc. 598 929 2,767 Foot Locker, Inc. 200 201 14,236 General Mills, Inc. 1,129 757 92,658 Ford Motor Co. 1,443 968 3,355 Hershey Co. 421 491 5,136 Gap, Inc. 148 181 6,435 Hormel Foods Corp. 285 375 31,217 General Motors Co. 1,223 1,426 5,990 Kellogg Co. 573 466 3,473 Genuine Parts Co. 414 455 8,229 Kimberly-Clark Corp. 1,338 1,281 4,864 H&R Block, Inc. 141 169 14,828 Kraft Heinz Co. 1,523 872 8,533 Hanesbrands, Inc. 278 146 3,466 Lamb Weston Holdings, Inc. 353 348 3,942 Harley-Davidson, Inc. 232 184 2,906 McCormick & Co., Inc. 372 553 2,764 Hasbro, Inc. 293 307 4,430 Molson Coors Brewing Co. 526 340 7,057 Hilton Worldwide Holdings, Inc. 673 692 34,563 Mondelez International, Inc., Class A 1,810 1,890 3,946 Kohl’s Corp. 204 358 9,416 Monster Beverage Corp. 610 633 5,403 L Brands, Inc. 417 189 33,558 PepsiCo, Inc. 4,425 5,064 3,081 Leggett & Platt, Inc. 186 151 36,945 Philip Morris International, Inc. 4,651 3,369 6,905 Lennar Corp., Class A 434 369 11,397 Sysco Corp. 734 975 7,529 LKQ Corp. 300 244 3,032 The Clorox Co. 522 638 19,092 Lowe’s Cos., Inc. 1,844 2,408 91,075 The Coca-Cola Co. 5,077 5,890 7,265 Macy’s, Inc. 291 295 2,692 The JM Smucker Co. 478 344 6,738 Marriott International, Inc., Class A 621 999 19,033 The Kroger Co. 832 715 8,145 Mattel, Inc. 285 111 59,225 The Procter & Gamble Co. 6,273 7,435 18,331 McDonald’s Corp. 2,803 4,446 7,004 Tyson Foods, Inc., Class A 576 511 11,891 MGM Resorts International 504 394 19,114 Walgreens Boots Alliance, Inc. 1,913 1,784 1,501 Mohawk Industries, Inc. 368 240 33,852 Wal-Mart Stores, Inc. 3,181 4,307 10,289 Newell Rubbermaid, Inc. 580 261 49,258 50,597 30,234 Nike, Inc., Class B 2,012 3,061 2,713 Nordstrom, Inc. 139 173 Health Care 14.0% 1,907 O’Reilly Automotive, Inc. 622 897 41,759 Abbott Laboratories 2,182 4,125 6,184 PulteGroup, Inc. 151 219 35,758 AbbVie, Inc. 2,808 4,502 1,816 PVH Corp. 218 231 1,079 ABIOMED, Inc. 538 479 1,308 Ralph Lauren Corp. 155 185 7,545 Agilent Technologies, Inc. 438 695 8,848 Ross Stores, Inc. 628 1,005 5,324 Alexion Pharmaceuticals, Inc. 789 708 29,500 Starbucks Corp. 1,992 2,595 1,730 Align Technology, Inc. 365 495 6,964 Tapestry, Inc. 346 321 3,723 AmerisourceBergen Corp. 365 378 12,378 Target Corp. 1,065 1,117 15,145 Amgen, Inc. 2,851 4,027

The accompanying notes are an integral part of the financial statements.

188 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE) MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE)

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 6,153 Anthem, Inc. 1,098 2,207 1,249 Assurant, Inc. 131 153 11,760 Baxter International, Inc. 692 1,057 217,012 Bank of America Corp. 4,105 7,303 6,378 Becton Dickinson and Co. 1,445 1,963 21,636 Bank of New York Mellon Corp. 1,067 1,391 4,789 Biogen, Inc. 1,361 1,968 18,330 BB&T Corp. 844 1,084 32,906 Boston Scientific Corp. 950 1,588 46,252 Berkshire Hathaway, Inc., Class B 8,748 12,898 38,805 Bristol-Myers Squibb Co. 3,275 2,755 2,888 BlackRock, Inc. 1,258 1,549 7,087 Cardinal Health, Inc. 659 432 2,835 Brighthouse Financial, Inc. 167 118 16,647 Celgene Corp. 2,079 1,457 11,256 Capital One Financial Corp. 935 1,162 4,900 Centene Corp. 514 772 2,647 Cboe Global Markets, Inc. 296 354 7,787 Cerner Corp. 558 558 3,580 Cincinnati Financial Corp. 315 379 9,050 Cigna Corp. 1,740 2,347 58,067 Citigroup, Inc. 3,255 4,129 30,748 CVS Health Corp. 3,416 2,752 11,093 Citizens Financial Group, Inc. 324 450 14,666 Danaher Corp. 1,436 2,066 8,508 CME Group, Inc. 1,118 2,186 3,002 DaVita, Inc. 274 211 3,827 Comerica, Inc. 221 359 5,263 Dentsply Sirona, Inc. 406 267 7,992 Discover Financial Services 539 644 4,956 Edwards Lifesciences Corp. 602 1,037 6,030 E*TRADE Financial Corp. 196 361 22,414 Eli Lilly & Co. 2,183 3,543 15,552 Fifth Third Bancorp 363 500 30,760 Gilead Sciences, Inc. 2,960 2,628 3,978 First Republic Bank 472 472 6,388 HCA Holdings, Inc. 646 1,086 7,063 Franklin Resources, Inc. 309 286 3,624 Henry Schein, Inc. 389 389 25,269 Huntington Bancshares, Inc. 321 411 6,441 Hologic, Inc. 298 362 13,572 Intercontinental Exchange, Inc. 886 1,396 3,261 Humana, Inc. 769 1,276 6,577 Jefferies Financial Group, Inc. 154 156 2,049 IDEXX Laboratories, Inc. 338 521 79,062 JPMorgan Chase & Co. 6,487 10,541 3,496 Illumina, Inc. 705 1,432 24,553 KeyCorp 394 496 4,176 Incyte Corp. 705 363 5,128 Lincoln National Corp. 280 359 2,716 Intuitive Surgical, Inc. 833 1,777 6,581 Loews Corp. 352 409 3,765 IQVIA Holdings, Inc. 466 597 3,339 M&T Bank Corp. 505 653 63,760 Johnson & Johnson 9,600 11,238 11,952 Marsh & McLennan Cos., Inc. 993 1,302 2,412 Laboratory Corp. of America Holdings 405 416 23,419 MetLife, Inc. 1,080 1,313 4,645 McKesson Corp. 983 701 3,951 Moody’s Corp. 485 756 61,822 Merck & Co., Inc. 4,444 6,452 31,088 Morgan Stanley 1,126 1,684 597 Mettler-Toledo International, Inc. 330 461 2,103 MSCI, Inc. 393 423 4,082 Nektar Therapeutics 525 183 2,726 Nasdaq, Inc. 219 304 2,621 PerkinElmer, Inc. 173 281 5,285 Northern Trust Corp. 476 603 137,426 Pfizer, Inc. 5,924 8,193 9,171 People’s United Financial, Inc. 180 181 3,235 Quest Diagnostics, Inc. 337 368 6,268 Principal Financial Group, Inc. 353 378 1,848 Regeneron Pharmaceuticals, Inc. 812 943 13,883 Progressive Corp. 615 1,144 3,378 ResMed, Inc. 336 525 9,808 Prudential Financial, Inc. 937 1,092 7,385 Stryker Corp. 1,126 1,581 3,038 Raymond James Financial, Inc. 318 309 1,163 The Cooper Cos., Inc. 289 404 24,470 Regions Financial Corp. 295 447 9,572 Thermo Fisher Scientific, Inc. 1,803 2,926 5,953 S&P Global, Inc. 805 1,382 22,874 UnitedHealth Group, Inc. 4,258 7,783 9,064 State Street Corp. 701 781 2,038 Universal Health Services, Inc. 333 324 10,688 SunTrust Banks, Inc. 566 736 2,167 Varian Medical Systems, Inc. 208 335 1,259 SVB Financial Group 438 327 6,081 Vertex Pharmaceuticals, Inc. 727 1,376 15,729 Synchrony Financial 535 504 1,797 Waters Corp. 317 463 5,699 T. Rowe Price Group, Inc. 526 719 1,183 WellCare Health Plans, Inc. 465 381 28,586 The Charles Schwab Corp. 1,050 1,621 4,864 Zimmer Biomet Holdings, Inc. 720 689 8,226 The Goldman Sachs Group, Inc. 1,715 1,877 11,404 Zoetis, Inc. 711 1,332 8,483 The Hartford Financial Services Group, Inc. 464 515 10,989 The PNC Financial Services Group, Inc. 1,224 1,755 75,959 100,175 6,294 The Travelers Cos., Inc. 896 1,029 Financials 12.2% 2,454 Torchmark Corp. 189 250 1,265 Affiliated Managers Group, Inc. 238 168 36,120 U.S. Bancorp 1,896 2,254 18,058 Aflac, Inc. 798 1,124 5,176 Unum Group 225 208 8,195 Allstate Corp. 724 925 100,722 Wells Fargo & Co. 6,051 6,339 16,658 American Express Co. 1,341 2,169 4,601 Zions Bancorporation 164 256 21,028 American International Group, Inc. 1,368 1,132 64,109 87,120 3,311 Ameriprise Financial, Inc. 403 472 4,390 Arthur J Gallagher & Co. 280 442

The accompanying notes are an integral part of the financial statements.

189 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE) MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE)

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) Information Technology 18.7% 10,585 The Western Union Co. 253 247 11,611 Adobe Systems, Inc. 1,527 3,588 3,972 Total System Services, Inc. 266 441 20,914 Advanced Micro Devices, Inc. 394 527 2,539 VeriSign, Inc. 318 514 3,873 Akamai Technologies, Inc. 264 323 41,782 Visa, Inc., Class A 4,080 7,529 1,118 Alliance Data Systems Corp. 296 229 6,896 Western Digital Corp. 469 348 7,172 Amphenol Corp., Class A 538 794 4,906 Xerox Corp. 164 132 8,797 Analog Devices, Inc. 717 1,031 5,986 Xilinx, Inc. 369 696 1,995 ANSYS, Inc. 332 390 83,922 133,507 107,181 Apple, Inc. 13,924 23,091 23,425 Applied Materials, Inc. 777 1,048 Communication Services 9.7% 1,247 Arista Networks, Inc. 484 359 18,153 Activision Blizzard, Inc. 1,041 1,155 5,213 Autodesk, Inc. 448 916 7,108 Alphabet, Inc., Class A 6,775 10,145 10,411 Automatic Data Processing, Inc. 1,188 1,864 7,314 Alphabet, Inc., Class C 6,681 10,345 9,829 Broadcom Ltd. 2,219 3,414 173,043 AT&T, Inc. 8,812 6,745 2,805 Broadridge Financial Solutions, Inc. 422 369 8,012 CBS Corp., Class B 529 478 6,694 Cadence Design Systems, Inc. 319 398 22,497 CenturyLink, Inc. 667 465 106,892 Cisco Systems, Inc. 3,924 6,326 4,192 Charter Communications, Inc. 1,558 1,632 3,050 Citrix Systems, Inc. 305 427 107,954 Comcast Corp., Class A 4,373 5,020 13,733 Cognizant Technology Solutions Corp. 993 1,191 3,698 Discovery Communications, Inc., Class A 118 125 19,006 Corning, Inc. 506 784 8,513 Discovery Communications, Inc., Class C 265 268 6,655 DXC Technology Co. 481 483 5,422 DISH Network Corp. 436 185 1,439 F5 Networks, Inc. 213 318 7,215 Electronic Arts, Inc. 698 778 7,783 Fidelity National Information Services, Inc. 723 1,090 57,119 Facebook, Inc. 8,726 10,227 9,482 Fiserv, Inc. 624 952 9,083 Interpublic Group of Cos., Inc. 253 256 2,120 FleetCor Technologies, Inc. 617 538 10,368 Netflix, Inc. 1,438 3,790 3,267 FLIR Systems, Inc. 135 194 9,074 News Corp., Class A 131 141 3,474 Fortinet, Inc. 358 334 2,929 News Corp., Class B 46 46 2,150 Gartner, Inc. 319 375 5,310 Omnicom Group, Inc. 521 531 3,744 Global Payments, Inc. 362 527 2,694 Take-Two Interactive Software, Inc. 380 379 33,827 Hewlett Packard Enterprise Co. 470 610 2,421 TripAdvisor, Inc. 175 178 37,696 HP, Inc. 741 1,053 25,086 Twenty-First Century Fox, Inc., Class A 885 1,649 108,502 Intel Corp. 4,522 6,955 11,633 Twenty-First Century Fox, Inc., Class B 447 759 21,604 International Business Machines Corp. 4,113 3,354 17,195 Twitter, Inc. 866 675 6,170 Intuit, Inc. 927 1,659 98,247 Verizon Communications, Inc. 6,690 7,544 853 IPG Photonics Corp. 265 132 8,365 Viacom, Inc., Class B 420 294 1,827 Jack Henry & Associates, Inc. 341 316 35,399 Walt Disney Co. 4,306 5,301 8,161 Juniper Networks, Inc. 242 300 57,237 69,111 4,436 Keysight Technologies, Inc. 339 376 3,637 KLA-Tencor Corp. 356 445 Utilities 3.2% 3,689 Lam Research Corp. 449 686 15,660 AES Corp. 234 309 21,593 MasterCard, Inc., Class A 2,622 5,564 5,647 Alliant Energy Corp. 295 326 6,580 Maxim Integrated Products, Inc. 489 457 5,776 Ameren Corp. 390 515 5,648 Microchip Technology, Inc. 420 555 11,732 American Electric Power Co., Inc. 1,015 1,198 26,629 Micron Technology, Inc. 665 1,154 4,272 American Water Works Co., Inc. 453 530 183,752 Microsoft Corp. 12,711 25,491 11,928 CenterPoint Energy, Inc. 377 460 3,888 Motorola Solutions, Inc. 344 611 6,704 CMS Energy Corp. 380 455 5,988 NetApp, Inc. 218 488 7,425 Consolidated Edison, Inc. 749 775 14,503 NVIDIA Corp. 1,406 2,644 15,606 Dominion Resources, Inc. 1,496 1,523 63,949 Oracle Corp. 3,250 3,943 4,346 DTE Energy Co. 540 655 7,577 Paychex, Inc. 538 674 16,944 Duke Energy Corp. 1,801 1,997 28,015 PayPal Holdings, Inc. 1,492 3,218 7,711 Edison International 738 598 2,974 Qorvo, Inc. 224 247 4,281 Entergy Corp. 437 503 28,820 QUALCOMM, Inc. 1,977 2,240 6,262 Evergy, Inc. 437 486 4,198 Red Hat, Inc. 413 1,007 7,574 Eversource Energy 565 673 18,189 Salesforce.com, Inc. 2,035 3,403 22,986 Exelon Corp. 1,066 1,416 4,236 Skyworks Solutions, Inc. 386 388 11,633 FirstEnergy Corp. 510 597 15,194 Symantec Corp. 433 392 11,360 NextEra Energy, Inc. 1,889 2,697 3,576 Synopsys, Inc. 345 411 8,592 NiSource, Inc. 280 297 22,833 Texas Instruments, Inc. 1,861 2,947 6,896 NRG Energy, Inc. 149 373

The accompanying notes are an integral part of the financial statements.

190 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE) MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE)

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 12,451 PG&E Corp. 977 404 Industrials 0.5% 2,650 Pinnacle West Capital Corp. 268 308 2,249 Allegion PLC 192 245 17,120 PPL Corp. 784 662 10,329 Eaton Corp PLC 785 968 12,055 Public Service Enterprise Group, Inc. 694 857 8,546 IHS Markit Ltd. 530 560 3,376 SCANA Corp. 291 220 5,860 Ingersoll-Rand PLC 482 730 6,516 Sempra Energy 924 963 22,053 Johnson Controls International PLC 1,255 893 24,456 The Southern Co. 1,606 1,467 8,431 Nielsen Holdings PLC 499 269 7,468 WEC Energy Group, Inc. 603 706 3,819 Pentair PLC 294 197 12,218 Xcel Energy, Inc. 681 822 4,037 3,862 20,629 22,792 Consumer Discretionary 0.4% Real Estate 2.8% 6,266 Aptiv PLC 512 527 2,558 Alexandria Real Estate Equities, Inc. 386 403 9,545 Carnival Corp. 573 643 10,472 American Tower Corp., Class A 1,515 2,263 2,860 Garmin Ltd. 167 247 3,724 Apartment Investment & Management Co. 198 223 3,534 Michael Kors Holdings Ltd. 223 183 3,299 AvalonBay Communities, Inc. 740 784 5,202 Norwegian Cruise Line Holdings Ltd. 379 301 3,655 Boston Properties, Inc. 591 562 4,056 Royal Caribbean Cruises Ltd. 407 542 7,604 CBRE Group, Inc. 280 416 2,261 2,443 9,864 Crown Castle International Corp. 1,231 1,464 4,924 Digital Realty Trust, Inc. 682 717 Health Care 0.8% 8,456 Duke Realty Corp. 294 299 7,552 Allergan PLC 2,130 1,378 1,911 Equinix, Inc. 939 920 31,909 Medtronic PLC 3,331 3,964 8,790 Equity Residential 737 792 12,203 Mylan NV 623 457 1,563 Essex Property Trust, Inc. 448 523 2,980 Perrigo Co. PLC 349 158 2,994 Extra Space Storage, Inc. 350 370 6,433 5,957 1,739 Federal Realty Investment Trust 345 280 11,360 HCP, Inc. 488 433 Financials 0.6% 17,554 Host Hotels & Resorts, Inc. 360 400 5,743 Aon PLC 759 1,140 6,773 Iron Mountain, Inc. 325 300 10,965 Chubb Ltd. 1,754 1,935 9,973 Kimco Realty Corp. 353 200 967 Everest Re Group Ltd. 323 288 2,504 Macerich Co. 246 148 9,724 Invesco Ltd. 321 222 2,694 Mid-America Apartment Communities, Inc. 328 352 3,095 Willis Towers Watson PLC 492 642 14,982 Prologis, Inc. 1,000 1,202 3,649 4,227 3,572 Public Storage 1,085 988 Information Technology 0.6% 7,018 Realty Income Corp. 580 604 15,165 Accenture PLC 2,230 2,921 4,010 Regency Centers Corp. 358 321 6,185 Seagate Technology PLC 226 326 2,688 SBA Communications Corp. 520 594 8,158 TE Connectivity Ltd. 624 843 7,352 Simon Property Group, Inc. 1,841 1,687 2,049 SL Green Realty Corp. 273 221 3,080 4,090 6,560 UDR, Inc. 306 355 26,101 26,114 8,517 Ventas, Inc. 752 682 4,097 Vornado Realty Trust 497 347 543,084 683,475 8,933 Welltower, Inc. 826 847 SHORT-TERM INVESTMENTS 3.5% 17,933 Weyerhaeuser Co. 661 535 USD 18,350 Federal Home Loan Bank Discount Notes, 19,535 20,232 1.06%, Jan 02, 2019 25,061 25,061 516,983 657,361 EXCHANGE-TRADED FUNDS 0.3% 5,646 SPDR S&P 500 ETF Trust 1,477 1,927 Global 3.7% Energy 0.3% Investments 569,622 710,463 32,927 Schlumberger Ltd. 3,167 1,623 Transaction costs (20) 10,112 TechnipFMC PLC 402 270 Total investments 569,602 710,463 3,569 1,893 Derivative liabilities (0.2%) (1,247) Materials 0.5% Other assets less liabilities 0.7% 5,033 13,103 Linde PLC 2,343 2,792 Net assets attributable to 7,480 LyondellBasell Industries NV 729 850 unitholders 100.0% 714,249 3,072 3,642

The accompanying notes are an integral part of the financial statements.

191 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE) MANULIFE ASSET MANAGEMENT US EQUITY INDEX POOLED FUND (NON-TAXABLE)

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Equities United States Energy 4.8 5.5 Materials 2.1 2.8 Industrials 8.2 9.3 Consumer Discretionary 9.2 11.4 Consumer Staples 7.1 8.0 Health Care 14.0 12.5 Financials 12.2 13.8 Information Technology 18.7 22.1 Communication Services 9.7 2.0 Utilities 3.2 2.9 Real Estate 2.8 2.7 Global Energy 0.3 0.5 Materials 0.5 0.2 Industrials 0.5 0.6 Consumer Discretionary 0.4 0.4 Health Care 0.8 0.8 Financials 0.6 0.7 Information Technology 0.6 1.0 Short-Term Investments 3.5 3.0 Exchange-Traded Funds 0.3 0.2 Derivative liabilities (0.2) - Other assets less liabilities 0.7 (0.4) 100.0 100.0

FUTURES CONTRACTS (0.2%) Commitment Unrealized No. of Contract Futures Delivery amount Price as at gain/(loss) contracts price contracts date ($) (’000) December 31, 2018 (CAD $) (’000) 167 USD 2,614.55 S&P 500 Index EMNI Futures Mar 15, 2019 USD 20,918 USD 2,505.20 (1,247) Derivative liabilities (1,247)

The accompanying notes are an integral part of the financial statements.

192 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US SMALL CAP VALUE POOLED FUND MANULIFE ASSET MANAGEMENT US SMALL CAP VALUE POOLED FUND

Assets Income Current assets Interest for distribution purposes, net of currency loss Investments, at fair value 3,703 4,112 on foreign short term notes 1 (5) Receivable from investments sold 29 - Dividend income 83 69 Interest, dividends and other receivables 5 4 Foreign exchange gain (loss) on currency 5 (1) Income from securities lending 1 - 3,737 4,116 Realized gain (loss) on sales of investments 198 318 Liabilities Change in unrealized appreciation (depreciation) in Current liabilities the value of investments (755) (328) Payable on investments purchased 118 - (467) 53 Accrued expenses and other liabilities 8 7 Expenses 126 7 Audit fees 5 3 Transfer agent fees 3 3 Net assets attributable to unitholders 3,611 4,109 Unitholder reporting costs 3 3 Net assets attributable to unitholders per unit Custodial fees 4 8 8.72 9.92 Foreign withholding taxes 11 11 Transaction costs 5 4 31 32 Increase (decrease) in net assets attributable to unitholders (498) 21 Increase (decrease) in net assets attributable to unitholders per unit (1.21) 0.05

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 4,109 4,088 Increase (decrease) in net assets attributable to unitholders (498) 21

Net assets attributable to unitholders - end of year 3,611 4,109

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 414 414 Units issued - - Units issued for reinvestment of distributions - - Units redeemed - -

Units outstanding end of year 414 414

The accompanying notes are an integral part of the financial statements.

193 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US SMALL CAP VALUE POOLED FUND MANULIFE ASSET MANAGEMENT US SMALL CAP VALUE POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 97.4% Increase (decrease) in net assets attributable to United States 96.2% unitholders (498) 21 Energy 6.4% Adjustments for: 5,577 Callon Petroleum Co. 64 50 Realized gain (loss) on sales of investments (198) (318) 3,122 Magnolia Oil & Gas Corp. 54 48 Change in unrealized appreciation (depreciation) in 2,137 Oceaneering International, Inc. 59 35 the value of investments 755 328 3,730 Patterson-UTI Energy, Inc. 90 53 Purchases of investments (2,745) (2,221) 1,142 PDC Energy, Inc. 61 46 Proceeds from disposition of investments 2,686 2,186 328 232 Interest, dividends and other receivables (1) (1) Materials 5.4% Accrued expenses and other liabilities 1 4 4,849 Graphic Packaging Holding Co. 85 70 Net cash provided by (used in) operating 461 Kaiser Aluminum Corp. 62 56 activities -(1) 2,675 Valvoline, Inc. 79 71 Net increase (decrease) in cash -(1) 226 197 Cash (bank overdraft) beginning of year - 1 Industrials 11.9% Cash (bank overdraft) end of year -- 539 American Woodmark Corp. 58 41 Supplemental information on cash flows from operating activities: 2,021 Briggs & Stratton Corp. 48 36 Interest received, net of currency loss on foreign 642 EMCOR Group, Inc. 46 53 1,931 GMS, Inc. 79 39 short term notes and foreign withholding taxes 1 (5) 877 Granite Construction, Inc. 59 48 Dividends received, net of foreign withholding taxes 71 57 1,351 Quanta Services, Inc. 60 56 501 Regal Beloit Corp. 41 48 1,104 The Timken Co. 56 56 276 Unifirst Corp. 42 54 489 431 Consumer Discretionary 7.6% 634 Dave & Buster’s Entertainment, Inc. 40 39 378 Lithia Motors, Inc. 49 39 2,798 Nautilus, Inc. 56 42 1,557 Penn National Gaming, Inc. 63 40 946 Tenneco, Inc. 53 35 1,110 Universal Electronics, Inc. 45 38 576 Williams-Sonoma, Inc. 41 40 347 273 Consumer Staples 1.4% 1,148 Central Garden & Pet Co., Series A 46 49 Health Care 6.6% 226 Bio-Rad Laboratories, Inc. 47 72 15,822 Enzo Biochem, Inc. 86 60 1,266 Prestige Brands Holdings, Inc. 59 53 980 Syneos Health, Inc. 46 53 238 238 Financials 24.7% 948 Bank of Hawaii Corp. 63 87 993 Banner Corp. 40 73 3,234 Brookline Bancorp, Inc. 38 61 1,329 Columbia Banking System, Inc. 55 66 1,915 ConnectOne Bancorp, Inc. 66 48 2,455 First Hawaiian, Inc. 84 75 613 Moelis & Co. 29 29 2,920 Pennantpark Floating Rate Capital Ltd. 55 46 489 Pinnacle Financial Partners, Inc. 42 31 830 South State Corp. 59 68

The accompanying notes are an integral part of the financial statements.

194 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT US SMALL CAP VALUE POOLED FUND MANULIFE ASSET MANAGEMENT US SMALL CAP VALUE POOLED FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE CONCENTRATION RISK NO. OF UNITS NAME ($) (’000) ($) (’000) The following table summarizes the Fund’s concentration risk. 3,250 Umpqua Holdings Corp. 69 71 % of net assets attributable to 1,404 Union Bankshares Corp. 57 54 unitholders 2,109 Univest Corp. Of PA 64 62 Portfolio by category December 31, 2018 December 31, 2017 4,299 Valley National Bancorp 66 52 Equities 1,017 Webster Financial Corp. 47 68 United States 834 891 Energy 6.4 3.1 Materials 5.4 4.1 Information Technology 10.2% Industrials 11.9 18.1 2,040 Avaya Holdings Corp. 59 41 Consumer Discretionary 7.6 9.4 2,074 Casa Systems, Inc. 44 37 Consumer Staples 1.4 0.6 2,003 Cray, Inc. 60 59 Health Care 6.6 7.0 567 j2 Global, Inc. 56 54 Financials 24.7 27.8 6,724 Lattice Semiconductor Corp. 63 63 Information Technology 10.2 9.3 1,285 MaxLinear, Inc. 27 31 Communication Services 4.8 - 2,322 Quantenna Communications, Inc. 44 45 Utilities 5.1 4.1 2,993 TTM Technologies, Inc. 60 40 Real Estate 12.1 10.2 413 370 Global Financials 1.2 2.0 Communication Services 4.8% Consumer Staples - 0.5 2,132 Boingo Wireless, Inc. 69 60 Short-Term Investments 5.1 3.9 1,045 Cinemark Holdings, Inc. 43 51 Other assets less liabilities (2.5) (0.1) 11,878 Zynga, Inc. 61 64 100.0 100.0 173 175 Utilities 5.1% 1,155 NorthWestern Corp. 79 94 1,424 Portland General Electric Co. 65 89 144 183 Real Estate 12.1% 1,159 American Assets Trust, Inc. 59 63 595 EastGroup Properties, Inc. 70 74 735 EPR Properties 49 64 1,765 First Industrial Realty Trust, Inc. 49 70 3,143 Physicians Realty Trust 70 69 1,844 Retail Opportunity Investments Corp. 38 40 1,682 STAG Industrial, Inc. 59 57 394 437 3,632 3,476 Global 1.2% Financials 1.2% 469 Argo Group International Holdings Ltd. 35 43 3,667 3,519 SHORT-TERM INVESTMENTS 5.1% USD 134 State Street Co. Can US Dollar Call Deposit, 0.42%, Jan 03, 2019 176 184 Investments 3,843 3,703 Transaction costs (4) Total investments 3,839 3,703 Other assets less liabilities (2.5%) (92) Net assets attributable to unitholders 100.0% 3,611

The accompanying notes are an integral part of the financial statements.

195 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS EQUITY POOLED FUND MANULIFE ASSET MANAGEMENT EMERGING MARKETS EQUITY POOLED FUND

Assets Income Current assets Dividend income 471 586 Investments, at fair value 13,288 14,445 Foreign exchange gain (loss) on income (1) (2) Cash 36 197 Foreign exchange gain (loss) on currency (11) (16) Interest, dividends and other receivables 57 59 Realized gain (loss) on sales of investments 509 1,773 Realized gain (loss) on derivatives 4 (44) 13,381 14,701 Change in unrealized appreciation (depreciation) in Liabilities the value of investments (2,185) 2,382 Current liabilities (1,213) 4,679 Accrued expenses and other liabilities 16 12 Expenses 16 12 Audit fees 10 14 Transfer agent fees 3 5 Net assets attributable to unitholders 13,365 14,689 Interest expense & bank charges - 1 Net assets attributable to unitholders per unit Unitholder reporting costs 9 7 8.82 9.70 Custodial fees 24 40 Foreign withholding taxes 44 42 Transaction costs 21 57 111 166 Increase (decrease) in net assets attributable to unitholders (1,324) 4,513 Increase (decrease) in net assets attributable to unitholders per unit (0.88) 3.46

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 14,689 16,820 Increase (decrease) in net assets attributable to unitholders (1,324) 4,513 Distribution to unitholders from: Net investment income - (4,504)

Total distributions to unitholders - (4,504)

Security transactions Proceeds from units issued - 50 Reinvestments of distributions to unitholders - 4,504 Redemption of units - (6,694)

Total security transactions - (2,140)

Net assets attributable to unitholders - end of year 13,365 14,689

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 1,515 1,575 Units issued - 4 Units issued for reinvestment of distributions - 465 Units redeemed - (529)

Units outstanding end of year 1,515 1,515

The accompanying notes are an integral part of the financial statements.

196 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS EQUITY POOLED FUND MANULIFE ASSET MANAGEMENT EMERGING MARKETS EQUITY POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 96.2% Increase (decrease) in net assets attributable to Cayman Islands 17.4% unitholders (1,324) 4,513 109,146 3SBio, Inc. 195 191 Adjustments for: 2,761 Alibaba Group Holding Ltd. 460 518 Change in unrealized foreign exchange gain (loss) 1,421 Baidu, Inc., ADR 385 308 on currency - 1 3,234 Ctrip.com International Ltd., ADR 212 119 Realized gain (loss) on sales of investments (509) (1,773) 216,500 Dali Foods Group Co., Ltd. 200 219 Realized gain (loss) on derivatives (4) 44 108,000 Kingdee International Software Group Co., Change in unrealized appreciation (depreciation) in Ltd. 146 130 the value of investments 2,185 (2,382) 15,000 Ping An Healthcare and Technology Co., Purchases of investments (6,878) (7,969) Ltd. 134 72 Proceeds from disposition of investments 6,363 14,247 32,400 Sands China Ltd. 193 194 Receivable from Manager - 11 7,400 Tencent Holdings Ltd. 401 405 Interest, dividends and other receivables 2 (24) 5,358 Tencent Music Entertainment Group, ADR 98 97 Accrued expenses and other liabilities 4 12 13,800 Wise Talent Information Technology Co., Ltd. 77 70 Net cash provided by (used in) operating activities (161) 6,680 2,501 2,323 Cash flows from financing activities Hong Kong 11.3% Proceeds from sale of units - 50 51,200 AIA Group Ltd. 410 581 Payments for units redeemed - (6,694) 42,000 China Resources Beer Holdings Co., Ltd. 216 200 168,000 CNOOC Ltd. 294 355 Net cash provided by (used in) financing 5,300 Hong Kong Exchanges & Clearing Ltd. 198 209 activities - (6,644) 23,500 Techtronic Industries Co., Ltd. 160 171 Change in unrealized foreign exchange gain (loss) 1,278 1,516 on currency - (1) Net increase (decrease) in cash (161) 36 Brazil 10.5% Cash (bank overdraft) beginning of year 197 162 14,564 AMBEV SA, ADR 98 78 30,729 Itau Unibanco Holding SA 295 384 Cash (bank overdraft) end of year 36 197 28,400 Kroton Educacional SA 112 89 Supplemental information on cash flows from operating activities: 20,200 Lojas Renner SA 217 302 Dividends received, net of foreign withholding taxes 429 517 10,000 Notre Dame Intermedica Participacoes SA 94 103 Interest paid - 1 33,700 Odontoprev SA 169 163 16,114 Vale SA, ADR 219 290 1,204 1,409 South Korea 10.1% 165 LG Household & Health Care Ltd. 143 223 1,200 NAVER Corp. 199 179 15,750 Samsung Electronics Co., Ltd., Preferred 395 612 2,825 SK Hynix, Inc. 277 209 1,097 S-Oil Corp. 147 131 1,161 1,354 China 10.0% 226,000 China Construction Bank Corp. 254 255 91,920 Focus Media Information Technology Co., Ltd. 184 96 900 Kweichow Moutai Co., Ltd. 131 105 47,500 Ping An Insurance Group Co. of China Ltd. 356 573 33,700 Qingdao Haier Co., Ltd. 122 93 37,600 Sinopharm Group Co., Ltd. 206 216 1,253 1,338 Taiwan 6.9% 50,500 ASE Industiral Holdings Co., Ltd. 166 131

The accompanying notes are an integral part of the financial statements.

197 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT EMERGING MARKETS EQUITY POOLED FUND MANULIFE ASSET MANAGEMENT EMERGING MARKETS EQUITY POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 20,000 Land Mark Optoelectronics Corp. 285 200 British Virgin Islands 0.9% 11,728 Taiwan Semiconductor Manufacturing Co., 3,852 Mail.Ru Group Ltd. 145 123 Ltd., ADR 334 591 Netherlands 0.5% 785 922 1,648 Yandex NV 38 61 India 5.4% 11,873 12,858 1,656 HDFC Bank Ltd., ADR 134 234 MUTUAL FUNDS 3.2% 15,695 ICICI Bank Ltd., ADR 191 221 15,562 India Fund, Inc. 502 430 6,044 Reliance Industries Ltd., GDR 215 263 502 430 540 718 Investments 12,375 13,288 Russia 4.9% 2,005 Lukoil PJSC, ADR 180 195 Transaction costs (23) 111,910 Public Joint Stock Company Moscow Total Investments 12,352 13,288 Exchange Micex-Rts 170 179 Other assets less liabilities 0.6% 77 18,733 Sberbank of Russia PJSC, ADR 197 281 Net assets attributable to 547 655 unitholders 100.0% 13,365 Bermuda 3.9% 939 Credicorp Ltd. 193 284 CONCENTRATION RISK 74,000 Nine Dragons Paper Holdings Ltd. 136 94 The following table summarizes the Fund’s concentration risk. 535,000 Pacific Basin Shipping Ltd. 164 139 % of net assets attributable to 493 517 unitholders South Africa 3.8% Portfolio by Category December 31, 2018 December 31, 2017 34,785 FirstRand Ltd. 218 217 Equities 1,047 Naspers Ltd. 171 287 Cayman Islands 17.4 14.1 Hong Kong 11.3 5.8 389 504 Brazil 10.5 9.9 Great Britain 3.1% South Korea 10.1 12.2 8,183 Anglo American PLC 240 249 China 10.0 9.5 5,878 Mondi PLC 170 167 Taiwan 6.9 6.8 India 5.4 5.7 410 416 Russia 4.9 4.9 Indonesia 2.3% Bermuda 3.9 1.6 234,900 Astra International Tbk PT 185 183 South Africa 3.8 5.6 341,200 Telekomunikasi Indonesia Persero Tbk PT 153 122 Great Britain 3.1 3.9 Indonesia 2.3 4.1 338 305 Mexico 1.8 2.9 Mexico 1.8% Argentina 1.3 1.1 11,400 Fomento Economico Mexicano SAB de CV 130 134 Philippines 1.1 - 16,100 Grupo Financiero Banorte SAB de CV 113 107 Luxembourg 1.0 1.6 British Virgin Islands 0.9 0.7 243 241 Netherlands 0.5 0.7 Argentina 1.3% Thailand - 1.1 9,717 YPF SA, ADR 267 178 United States - 4.5 Czech Republic - 1.2 Philippines 1.1% Greece - 0.4 60,810 Bank of the Philippine Islands 136 148 Mutual Funds 3.2 - Luxembourg 1.0% Other assets less liabilities 0.6 1.7 33,600 Samsonite International SA 145 130 100.0 100.0

The accompanying notes are an integral part of the financial statements.

198 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL FOCUS POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL FOCUS POOLED FUND

Assets Income Current assets Interest for distribution purposes 7 3 Investments, at fair value 93,648 53,480 Dividend income 900 1,251 Cash 16,288 3,866 Foreign exchange gain (loss) on income 3 9 Receivable from investments sold 3,725 - Foreign exchange gain (loss) on currency (318) 246 Interest, dividends and other receivables 171 173 Realized gain (loss) on sales of investments 3,384 11,987 Realized gain (loss) on derivatives 237 (294) 113,832 57,519 Change in unrealized appreciation (depreciation) in Liabilities the value of investments (5,801) (1,014) Current liabilities Change in unrealized appreciation (depreciation) in Payable on investments purchased 7,440 - the value of derivatives - 1 Accrued expenses and other liabilities 11 14 (1,588) 12,189 7,451 14 Expenses Audit fees 5 6 Net assets attributable to unitholders 106,381 57,505 Transfer agent fees 3 4 Net assets attributable to unitholders per unit Filing fees 1 1 10.43 11.22 Unitholder reporting costs 16 15 Custodial fees 5 20 Foreign withholding taxes 108 137 Transaction costs 103 73 241 256 Increase (decrease) in net assets attributable to unitholders (1,829) 11,933 Increase (decrease) in net assets attributable to unitholders per unit (0.36) 2.26

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 57,505 75,912 Increase (decrease) in net assets attributable to unitholders (1,829) 11,933 Distribution to unitholders from: Net investment income (796) (1,081) Net realized gains (3,239) (11,851)

Total distributions to unitholders (4,035) (12,932)

Security transactions Proceeds from units issued 50,900 50 Reinvestments of distributions to unitholders 4,035 12,932 Redemption of units (195) (30,390)

Total security transactions 54,740 (17,408)

Net assets attributable to unitholders - end of year 106,381 57,505

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 5,127 6,155 Units issued 4,697 4 Units issued for reinvestment of distributions 387 1,153 Units redeemed (18) (2,185)

Units outstanding end of year 10,193 5,127

The accompanying notes are an integral part of the financial statements.

199 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL FOCUS POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL FOCUS POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 88.0% Increase (decrease) in net assets attributable to United States 43.0% unitholders (1,829) 11,933 790 Alphabet, Inc., Class A 874 1,128 Adjustments for: 790 Alphabet, Inc., Class C 527 1,117 Change in unrealized foreign exchange gain (loss) 2,113 Amazon.com, Inc. 2,469 4,335 on currency (6) - 10,496 American Express Co. 1,187 1,366 Realized gain (loss) on sales of investments (3,384) (11,987) 19,384 American Tower Corp., Class A 3,297 4,188 Realized gain (loss) on derivatives (237) 294 7,105 Apple, Inc. 1,114 1,531 Change in unrealized appreciation (depreciation) in 3,173 AutoZone, Inc. 2,993 3,633 the value of investments 5,801 1,014 6,261 Biogen, Inc. 2,392 2,573 Change in unrealized appreciation (depreciation) in 25,620 Comcast Corp., Class A 1,191 1,191 the value of derivatives - (1) 206,422 eBay, Inc. 7,490 7,914 Purchases of investments (57,088) (24,175) 23,217 Gilead Sciences, Inc. 2,066 1,983 Proceeds from disposition of investments 18,455 50,335 59,590 Liberty Media Corp.-Liberty Formula One 2,348 2,419 Interest, dividends and other receivables 2 4 69,777 Liberty Media Corp.-Liberty Formula One, Accrued expenses and other liabilities (3) 7 Class C 2,922 2,926 12,206 Ralph Lauren Corp. 1,769 1,725 Net cash provided by (used in) operating 48,365 Tempur Sealy International, Inc. 3,377 2,735 activities (38,289) 27,424 43,808 The Hain Celestial Group, Inc. 1,209 949 Cash flows from financing activities 31,375 Wal-Mart Stores, Inc. 3,446 3,992 Proceeds from sale of units 50,900 50 40,671 45,705 Payments for units redeemed (195) (30,390) Netherlands 10.7% Net cash provided by (used in) financing 28,175 Ferrari NV 2,993 3,827 activities 50,705 (30,340) 66,074 Heineken Holding NV 6,403 7,608 Change in unrealized foreign exchange gain (loss) 9,396 11,435 on currency 6 - Switzerland 8.1% Net increase (decrease) in cash 12,416 (2,916) 44,969 Compagnie Financière Richemont SA 4,246 3,925 Cash (bank overdraft) beginning of year 3,866 6,782 42,429 Nestlé SA 4,371 4,691 Cash (bank overdraft) end of year 16,288 3,866 8,617 8,616 Supplemental information on cash flows from operating activities: Great Britain 7.7% Interest received, net of foreign withholding taxes 7 3 68,358 Diageo PLC, ADR 2,852 3,323 Dividends received, net of foreign withholding taxes 794 1,127 47,083 Reckitt Benckiser Group PLC 5,024 4,925 7,876 8,248 France 6.8% 53,846 Danone SA 4,675 5,171 14,512 Sodexo SA 1,923 2,028 6,598 7,199 Belgium 4.4% 52,132 Anheuser-Busch InBev SA/NV 5,967 4,696 Ireland 4.3% 25,052 Allergan PLC 5,286 4,573 Italy 2.1% 80,254 Salvatore Ferragamo SpA 2,445 2,212 Japan 0.9% 55,100 Asics Corp. 1,025 964 Investments 87,881 93,648

The accompanying notes are an integral part of the financial statements.

200 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL FOCUS POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL FOCUS POOLED FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) Transaction costs (113) Total Investments 87,768 93,648 Other assets less liabilities 12.0% 12,733 Net assets attributable to unitholders 100.0% 106,381

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by Category December 31, 2018 December 31, 2017

Equities United States 43.0 42.8 Netherlands 10.7 11.4 Switzerland 8.1 6.0 Great Britain 7.7 10.7 France 6.8 5.7 Belgium 4.4 5.7 Ireland 4.3 3.9 Italy 2.1 1.8 Japan 0.9 - Bermuda - 1.5 Jersey - 3.5 Other assets less liabilities 12.0 7.0 100.0 100.0

The accompanying notes are an integral part of the financial statements.

201 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL EQUITY II POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL EQUITY II POOLED FUND

Assets Income Current assets Interest for distribution purposes 4 1 Investments, at fair value 56,337 110,613 Dividend income 2,703 3,091 Cash 2,616 4,234 Foreign exchange gain (loss) on income - 1 Subscriptions receivable 26 22 Foreign exchange gain (loss) on currency (22) 77 Receivable from investments sold 123 - Income from securities lending 14 17 Realized gain (loss) on sales of investments 4,745 5,810 Interest, dividends and other receivables 254 292 Realized gain (loss) on derivatives 176 (608) 59,356 115,161 Change in unrealized appreciation (depreciation) in Liabilities the value of investments (5,451) 1,446 Change in unrealized appreciation (depreciation) in Current liabilities Redemptions payable 40 - the value of derivatives (32) (76) Payable on investments purchased 49 - 2,137 9,759 Accrued expenses and other liabilities 10 18 Expenses Derivative liabilities 32 - Audit fees 5 6 131 18 Transfer agent fees 3 4 Filing fees 9 1 Net assets attributable to unitholders 59,225 115,143 Unitholder reporting costs 28 24 Net assets attributable to unitholders per unit Custodial fees 14 29 11.54 12.34 Foreign withholding taxes 322 368 Transaction costs 110 111 491 543 Increase (decrease) in net assets attributable to unitholders 1,646 9,216 Increase (decrease) in net assets attributable to unitholders per unit 0.21 1.09

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 115,143 83,227 Increase (decrease) in net assets attributable to unitholders 1,646 9,216 Distribution to unitholders from: Net investment income (2,390) (2,588) Net realized gains (2,144) (5,258)

Total distributions to unitholders (4,534) (7,846)

Security transactions Proceeds from units issued 3,773 36,982 Reinvestments of distributions to unitholders 4,534 7,846 Redemption of units (61,337) (14,282)

Total security transactions (53,030) 30,546

Net assets attributable to unitholders - end of year 59,225 115,143

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 9,334 6,917 Units issued 303 2,899 Units issued for reinvestment of distributions 370 636 Units redeemed (4,873) (1,118)

Units outstanding end of year 5,134 9,334

The accompanying notes are an integral part of the financial statements.

202 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL EQUITY II POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL EQUITY II POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 95.1% Increase (decrease) in net assets attributable to United States 41.9% unitholders 1,646 9,216 4,125 Advance Auto Parts, Inc. 770 887 Adjustments for: 8,803 Affiliated Managers Group, Inc. 1,856 1,172 Change in unrealized foreign exchange gain (loss) 9,708 Apple, Inc. 1,888 2,092 on currency (14) 4 5,989 Arthur J Gallagher & Co. 425 603 Realized gain (loss) on sales of investments (4,745) (5,810) 10,581 Cisco Systems, Inc. 425 626 Realized gain (loss) on derivatives (176) 608 25,329 eBay, Inc. 1,308 971 Change in unrealized appreciation (depreciation) in 14,575 Exxon Mobil Corp. 1,546 1,357 the value of investments 5,451 (1,446) 8,953 Fortune Brands Home & Security, Inc. 639 465 Change in unrealized appreciation (depreciation) in 66,419 Huntington Bancshares, Inc. 1,058 1,081 the value of derivatives 32 76 9,901 Johnson & Johnson 1,530 1,745 Purchases of investments (36,399) (88,213) 9,762 JPMorgan Chase & Co. 1,076 1,302 Proceeds from disposition of investments 90,071 65,369 52,987 KeyCorp 1,427 1,070 Interest, dividends and other receivables 38 (86) 14,289 Microsoft Corp. 1,210 1,982 Accrued expenses and other liabilities (8) 13 20,979 Mondelez International, Inc., Class A 1,151 1,147 19,353 Oracle Corp. 1,041 1,193 Net cash provided by (used in) operating 27,148 Synchrony Financial 1,238 870 activities 55,896 (20,269) 4,976 The Procter & Gamble Co. 546 625 Cash flows from financing activities 11,003 United Technologies Corp. 1,612 1,600 Proceeds from sale of units 3,769 36,969 20,357 Verizon Communications, Inc. 1,264 1,563 Payments for units redeemed (61,297) (14,282) 30,867 Wells Fargo & Co. 2,257 1,943 3,778 Whirlpool Corp. 831 551 Net cash provided by (used in) financing activities (57,528) 22,687 25,098 24,845 Change in unrealized foreign exchange gain (loss) Netherlands 13.5% on currency 14 (4) 7,215 Airbus Group SE 936 946 Net increase (decrease) in cash (1,632) 2,418 6,748 Akzo Nobel NV 653 742 Cash (bank overdraft) beginning of year 4,234 1,820 15,129 Heineken NV 1,755 1,824 20,282 Koninklijke Ahold Delhaize NV 598 699 Cash (bank overdraft) end of year 2,616 4,234 32,686 Koninklijke Philips NV 1,410 1,578 Supplemental information on cash flows from operating activities: 17,005 Unilever NV 1,204 1,259 Interest received, net of foreign withholding taxes 4 1 11,511 Wolters Kluwer NV 637 928 Dividends received, net of foreign withholding taxes 2,419 2,638 7,193 7,976 Switzerland 10.1% 9,091 Chubb Ltd. 1,563 1,604 20,168 Nestlé SA 2,056 2,230 10,620 Novartis AG 1,154 1,236 2,784 Roche Holding AG 943 939 5,716 6,009 France 7.2% 11,330 Compagnie générale des établissements Michelin SCA 2,037 1,533 3,615 Safran SA 486 595 8,474 Sanofi 991 1,001 15,377 Total SA 1,013 1,109 4,527 4,238 Ireland 5.7% 36,533 CRH PLC 1,571 1,316 36,078 Johnson Controls International PLC 1,921 1,461 5,054 Medtronic PLC 520 628 4,012 3,405 Australia 3.2% 148,972 Amcor Ltd. 2,048 1,898

The accompanying notes are an integral part of the financial statements.

203 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL EQUITY II POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL EQUITY II POOLED FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE CONCENTRATION RISK NO. OF UNITS NAME ($) (’000) ($) (’000) The following table summarizes the Fund’s concentration risk. Germany 2.8% % of net assets attributable to 3,449 Deutsche Boerse AG 393 565 unitholders 7,875 Merck KGaA 1,088 1,107 Portfolio by Category December 31, 2018 December 31, 2017

1,481 1,672 Equities Japan 2.2% United States 41.9 41.1 59,700 Mitsubishi Estate Co., Ltd. 1,466 1,285 Netherlands 13.5 10.1 Switzerland 10.1 11.9 South Korea 1.7% France 7.2 5.7 866 Samsung Electronics Co., Ltd., GDR 1,204 1,026 Ireland 5.7 3.8 Hong Kong 1.6% Australia 3.2 3.1 Germany 2.8 3.5 73,500 China Mobile Ltd. 1,058 966 Japan 2.2 6.7 Cayman Islands 1.4% South Korea 1.7 1.0 61,736 CK Hutchison Holdings Ltd. 1,013 810 Hong Kong 1.6 2.1 Cayman Islands 1.4 1.3 Jersey 1.3% Jersey 1.3 1.5 22,726 Experian PLC 579 753 Great Britain 1.1 3.4 Great Britain 1.1% Taiwan 1.0 0.9 114,910 Direct Line Insurance Group PLC 720 637 Brazil 0.4 - Other assets less liabilities 4.9 3.9 Taiwan 1.0% 100.0 100.0 12,049 Taiwan Semiconductor Manufacturing Co., Ltd., ADR 519 607 Brazil 0.4% 67,100 Cielo SA 603 210 Investments 57,237 56,337 Transaction costs (66) Total Investments 57,171 56,337 Derivative liabilities (0.0%) (32) Other assets less liabilities 4.9% 2,920 Net assets attributable to unitholders 100.0% 59,225

The accompanying notes are an integral part of the financial statements.

204 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL EQUITY INDEX POOLED FUND

Assets Income Current assets Interest for distribution purposes, net of currency loss Investments, at fair value 55,266 43,865 on foreign short term notes 492 (292) Cash 481 1,767 Distribution income from underlying funds 2,867 1,673 Margin deposited on derivatives 975 89 Foreign exchange gain (loss) on currency 47 (99) Derivative assets - 224 Realized gain (loss) on sales of investments - 614 Realized gain (loss) on derivatives (650) 1,277 56,722 45,945 Change in unrealized appreciation (depreciation) in Liabilities the value of investments (2,875) 3,202 Current liabilities Change in unrealized appreciation (depreciation) in Payable on investments purchased - 1,673 the value of derivatives (285) 366 Accrued expenses and other liabilities 11 12 (404) 6,741 Derivative liabilities 61 - Expenses 72 1,685 Audit fees 5 6 Transfer agent fees 3 4 Net assets attributable to unitholders 56,650 44,260 Unitholder reporting costs 14 11 Net assets attributable to unitholders per unit Custodial fees 7 13 9.38 9.92 Transaction costs - 2 29 36 Increase (decrease) in net assets attributable to unitholders (433) 6,705 Increase (decrease) in net assets attributable to unitholders per unit (0.10) 1.39

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 44,260 47,555 Increase (decrease) in net assets attributable to unitholders (433) 6,705 Distribution to unitholders from: Net investment income (688) (2,463) Net realized gains (1,795) (649)

Total distributions to unitholders (2,483) (3,112)

Security transactions Proceeds from units issued 21,823 - Reinvestments of distributions to unitholders 2,483 3,112 Redemption of units (9,000) (10,000)

Total security transactions 15,306 (6,888)

Net assets attributable to unitholders - end of year 56,650 44,260

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 4,461 5,169 Units issued 2,236 - Units issued for reinvestment of distributions 265 313 Units redeemed (922) (1,021)

Units outstanding end of year 6,040 4,461

The accompanying notes are an integral part of the financial statements.

205 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL EQUITY INDEX POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities MUTUAL FUNDS 87.6% Increase (decrease) in net assets attributable to 108,310 Manulife Asset Management Canadian unitholders (433) 6,705 Equity Index Pooled Fund 1,692 1,682 Adjustments for: 1,356,559 Manulife Asset Management International Distributions from underlying funds (2,867) (1,673) Equity Index Pooled Fund 15,124 17,568 Change in unrealized foreign exchange gain (loss) 2,645,497 Manulife Asset Management US Equity on currency (21) (1) Index Pooled Fund 31,429 30,417 Realized gain (loss) on sales of investments - (614) 48,245 49,667 Realized gain (loss) on derivatives 650 (1,277) Change in unrealized appreciation (depreciation) in SHORT-TERM INVESTMENTS 9.9% the value of investments 2,875 (3,202) USD 4,100 Federal Home Loan Bank Discount Notes, Change in unrealized appreciation (depreciation) in 1.06%, Jan 02, 2019 5,600 5,599 the value of derivatives 285 (366) Total investments 53,845 55,266 Purchases of investments (1,153,212) (183,951) Derivative liabilities (0.1%) (61) Proceeds from disposition of investments 1,139,480 195,755 Other assets less liabilities 2.6% 1,445 Margin on derivatives (886) 328 Accrued expenses and other liabilities (1) 5 Net assets attributable to unitholders 100.0% 56,650 Net cash provided by (used in) operating activities (14,130) 11,709 CONCENTRATION RISK Cash flows from financing activities The following table summarizes the Fund’s concentration risk. Proceeds from sale of units 21,823 - % of net assets attributable to Payments for units redeemed (9,000) (10,000) unitholders Net cash provided by (used in) financing Portfolio by category December 31, 2018 December 31, 2017

activities 12,823 (10,000) Mutual Funds 87.6 88.3 Change in unrealized foreign exchange gain (loss) Short-Term Investments 9.9 10.8 on currency 21 1 Derivative assets - 0.5 Net increase (decrease) in cash (1,307) 1,709 Derivative liabilities (0.1) - Other assets less liabilities 2.6 0.4 Cash (bank overdraft) beginning of year 1,767 57 100.0 100.0 Cash (bank overdraft) end of year 481 1,767 Supplemental information on cash flows from operating activities: Interest received, net of currency loss on foreign short term notes and foreign withholding taxes 492 (292)

FUTURES CONTRACTS (0.1%) Commitment Unrealized No. of Contract Futures Delivery amount Price as at gain/(loss) contracts price contracts date ($) (’000) December 31, 2018 (CAD $) (’000) 112 USD 974.81 mini MSCI Emerging Markets Index Futures Mar 15, 2019 USD 5,414 USD 966.80 (61) Derivative liabilities (61)

The accompanying notes are an integral part of the financial statements.

206 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL NATURAL RESOURCES POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL NATURAL RESOURCES POOLED FUND

Assets Income Current assets Dividend income 45 34 Investments, at fair value 1,664 2,018 Realized gain (loss) on sales of investments (69) (24) Cash 12 7 Realized gain (loss) on derivatives 1 - Receivable from investments sold 7 - Change in unrealized appreciation (depreciation) in Interest, dividends and other receivables 2 2 the value of investments (316) (3) 1,685 2,027 (339) 7 Liabilities Expenses Audit fees 5 4 Current liabilities Transfer agent fees 3 4 Accrued expenses and other liabilities 9 10 Unitholder reporting costs 2 2 910Custodial fees 8 17 Foreign withholding taxes 3 2 Net assets attributable to unitholders 1,676 2,017 Transaction costs 1 - Net assets attributable to unitholders per unit 22 29 7.56 9.21 Increase (decrease) in net assets attributable to unitholders (361) (22) Increase (decrease) in net assets attributable to unitholders per unit (1.65) (0.10)

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 2,017 1,973 Increase (decrease) in net assets attributable to unitholders (361) (22) Security transactions Proceeds from units issued 74 66 Redemption of units (54) -

Total security transactions 20 66

Net assets attributable to unitholders - end of year 1,676 2,017

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 219 212 Units issued 9 7 Units issued for reinvestment of distributions - - Units redeemed (6) -

Units outstanding end of year 222 219

The accompanying notes are an integral part of the financial statements.

207 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL NATURAL RESOURCES POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL NATURAL RESOURCES POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 99.3% Increase (decrease) in net assets attributable to United States 43.5% unitholders (361) (22) Energy 34.9% Adjustments for: 640 Anadarko Petroleum Corp. 55 38 Realized gain (loss) on sales of investments 69 24 77 Apache Corp. 8 3 Realized gain (loss) on derivatives (1) - 605 Cabot Oil & Gas Corp. 21 18 Change in unrealized appreciation (depreciation) in 541 Callon Petroleum Co. 9 5 the value of investments 316 3 451 Chevron Corp. 64 67 Purchases of investments (411) (350) 185 Cimarex Energy Co. 26 15 Proceeds from disposition of investments 374 275 258 Concho Resources, Inc. 38 36 Interest, dividends and other receivables - 1 377 ConocoPhillips 31 32 Accrued expenses and other liabilities (1) 5 466 Continental Resources, Inc. 33 25 702 Devon Energy Corp. 48 22 Net cash provided by (used in) operating 144 Diamondback Energy, Inc. 18 18 activities (15) (64) 372 EOG Resources, Inc. 43 44 Cash flows from financing activities 231 EQT Corp. 19 6 Proceeds from sale of units 74 66 192 Equitrans Midstream Corp. 5 5 Payments for units redeemed (54) - 425 Exxon Mobil Corp. 46 40 734 Halliburton Co. 40 27 Net cash provided by (used in) financing 67 Helmerich & Payne, Inc. 7 4 activities 20 66 296 Hess Corp. 28 16 Net increase (decrease) in cash 52 1,000 Marathon Oil Corp. 32 20 Cash (bank overdraft) beginning of year 7 5 234 Noble Energy, Inc. 10 6 519 Parsley Energy, Inc. 21 11 Cash (bank overdraft) end of year 12 7 751 Patterson-UTI Energy, Inc. 18 11 Supplemental information on cash flows from operating activities: 220 Phillips 66 23 26 Dividends received, net of foreign withholding taxes 42 33 155 Pioneer Natural Resources Co. 34 28 376 Range Resources Corp. 16 5 118 RPC, Inc. 3 2 250 Valero Energy Corp. 27 26 586 Williams Cos., Inc. 22 18 711 WPX Energy, Inc. 12 11 757 585 Materials 8.6% 3 Albemarle Corp. - - 238 Alcoa Corp. 13 9 539 DowDuPont, Inc. 31 39 414 Freeport-McMoRan, Inc. 16 6 305 HeclaMiningCo. 2 1 214 International Paper Co. 11 12 84 Newmont Mining Corp. 4 4 153 Nucor Corp. 12 11 752 Southern Copper Corp. 27 32 156 Steel Dynamics, Inc. 7 6 57 The Chemours Co. 1 2 41 The Sherwin-Williams Co. 14 22 138 144 895 729 Canada 35.4% Energy 12.8% 2,876 Advantage Oil & Gas Ltd. 20 6 552 ARC Resources Ltd. 9 4 1,022 Cameco Corp. 19 16 967 Canadian Natural Resources Ltd. 43 32 1,556 Cenovus Energy, Inc. 25 15

The accompanying notes are an integral part of the financial statements.

208 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL NATURAL RESOURCES POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL NATURAL RESOURCES POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 1,800 Encana Corp. 34 14 653 Wheaton Precious Metals Corp. 16 17 927 Enerplus Corp. 15 10 300 Yamana Gold, Inc. 1 1 766 Husky Energy, Inc. 14 11 390 378 1,729 Kelt Exploration Ltd. 10 8 187 Keyera Corp. 7 5 727 593 2,894 Leucrotta Exploration, Inc. 4 3 Global 20.4% 1,429 NexGen Energy Ltd. 2 3 Energy 12.5% 2,192 NuVista Energy Ltd. 19 9 1,043 BP PLC, ADR 54 54 353 Parex Resources, Inc. 5 6 382 Equinor ASA 13 11 2,121 Precision Drilling Corp. 17 5 722 Galp Energia SGPS SA 17 16 809 Seven Generations Energy Ltd. 15 9 644 Lundin Petroleum AB 13 22 1,359 Suncor Energy, Inc. 58 52 460 Rowan Companies PLC 14 5 305 Tourmaline Oil Corp. 16 5 911 Royal Dutch Shell PLC, ADR, Class A 73 72 1,658 Trican Well Service Ltd. 5 2 360 Schlumberger Ltd. 40 18 337 215 389 TechnipFMC PLC 16 10 66 Transocean Ltd. 1 1 Materials 22.6% 448 Agnico Eagle Mines Ltd. 17 24 241 209 394 Altius Minerals Corp. 5 4 Materials 7.9% 1,655 B2Gold Corp. 4 7 3,894 Aguia Resources Ltd. 2 - 327 Barrick Gold Corp. 6 6 772 BHP Billiton Ltd., ADR 54 51 5,750 Belo Sun Mining Corp. 4 2 325 Boliden AB 7 10 102 Canfor Corp. 2 2 222 Endeavour Mining Corp. 5 5 750 Cobalt 27 Capital Corp. 4 2 2,050 Glencore PLC 14 10 876 Continental Gold, Inc. 3 2 157 LyondellBasell Industries NV 19 18 1,190 Detour Gold Corp. 18 14 53 Randgold Resources Ltd., ADR 5 6 720 Equinox Gold Corp. 1 1 281 Rio Tinto PLC, ADR 17 19 1,506 Ero Copper Corp. 12 15 391 South32 Ltd., ADR 4 6 1,834 First Quantum Minerals Ltd. 35 20 4,100 Western Areas Ltd. 14 8 250 Franco-Nevada Corp. 15 24 448 Goldcorp, Inc. 12 6 141 133 681 Guyana Goldfields, Inc. 2 1 382 342 94 Havilah Mining Corp. - - Investments 2,004 1,664 2,020 HudBay Minerals, Inc. 15 13 545 Interfor Corp. 11 8 Transaction costs (2) 2,351 Ivanhoe Mines Ltd. 7 6 Total investments 2,002 1,664 50 Kirkland Lake Gold Ltd. 2 2 3,018 Lucara Diamond Corp. 7 4 Other assets less liabilities 0.7% 12 389 Lundin Gold, Inc. 2 2 Net assets attributable to 5,646 Lundin Mining Corp. 32 32 unitholders 100.0% 1,676 633 MAG Silver Corp. 5 6 50 Methanex Corp. 3 3 CONCENTRATION RISK 15,000 Nevada Copper Corp. 9 6 The following table summarizes the Fund’s concentration risk. 208 New Gold, Inc. 1 - 791 Nutrien Ltd. 39 51 % of net assets attributable to unitholders 3,213 OceanaGold Corp. 10 16 Portfolio by category December 31, 2018 December 31, 2017 97 Osisko Gold Royalties Ltd. 1 1 1,051 SEMAFO, Inc. 5 3 Equities 72 Solaris Copper, Inc. - - United States 533 Tahoe Resources, Inc. 10 3 Energy 34.9 32.6 1,208 Teck Resources Ltd. 31 35 Materials 8.6 10.4 219 Torex Gold Resources, Inc. 4 3 Canada Energy 12.8 18.7 5,159 Trevali Mining Corp. 5 2 Materials 22.6 24.3 2,945 Turquoise Hill Resources Ltd. 12 7 Global 403 West Fraser Timber Co., Ltd. 22 27 Energy 12.5 8.4 Materials 7.9 5.7 Other assets less liabilities 0.7 (0.1) 100.0 100.0

The accompanying notes are an integral part of the financial statements.

209 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL ENERGY POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL ENERGY POOLED FUND

Assets Income Current assets Dividend income 43 33 Investments, at fair value 1,406 1,824 Foreign exchange gain (loss) on currency (1) - Cash 7 9 Realized gain (loss) on sales of investments (157) (43) Interest, dividends and other receivables 2 2 Realized gain (loss) on derivatives 1 - Change in unrealized appreciation (depreciation) in 1,415 1,835 the value of investments (214) (168) Liabilities (328) (178) Current liabilities Expenses Accrued expenses and other liabilities 10 10 Audit fees 5 3 10 10 Transfer agent fees 3 4 Unitholder reporting costs 2 3 Net assets attributable to unitholders 1,405 1,825 Custodial fees 14 20 Net assets attributable to unitholders per unit Foreign withholding taxes 4 2 6.14 7.74 Transaction costs 1 - 29 32 Increase (decrease) in net assets attributable to unitholders (357) (210) Increase (decrease) in net assets attributable to unitholders per unit (1.57) (0.89)

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 1,825 1,953 Increase (decrease) in net assets attributable to unitholders (357) (210) Security transactions Proceeds from units issued 68 93 Redemption of units (131) (11)

Total security transactions (63) 82

Net assets attributable to unitholders - end of year 1,405 1,825

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 236 226 Units issued 9 12 Units issued for reinvestment of distributions - - Units redeemed (16) (2)

Units outstanding end of year 229 236

The accompanying notes are an integral part of the financial statements.

210 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL ENERGY POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL ENERGY POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 100.1% Increase (decrease) in net assets attributable to United States 58.9% unitholders (357) (210) Energy 58.5% Adjustments for: 717 Abraxas Petroleum Corp. 2 1 Realized gain (loss) on sales of investments 157 43 580 Anadarko Petroleum Corp. 52 35 Realized gain (loss) on derivatives (1) - 134 Apache Corp. 13 5 Change in unrealized appreciation (depreciation) in 748 Cabot Oil & Gas Corp. 26 23 the value of investments 214 168 719 Callon Petroleum Co. 12 6 Purchases of investments (436) (377) 56 Cheniere Energy, Inc. 4 5 Proceeds from disposition of investments 484 288 536 Chevron Corp. 76 80 Interest, dividends and other receivables - 1 288 Cimarex Energy Co. 40 24 Accrued expenses and other liabilities - 5 338 Concho Resources, Inc. 50 47 506 ConocoPhillips 42 43 Net cash provided by (used in) operating 527 Continental Resources, Inc. 36 29 activities 61 (82) 892 Devon Energy Corp. 61 28 Cash flows from financing activities 254 Diamondback Energy, Inc. 29 32 Proceeds from sale of units 68 93 451 EOG Resources, Inc. 52 54 Payments for units redeemed (131) (11) 334 EQT Corp. 28 9 265 Equitrans Midstream Corp. 7 7 Net cash provided by (used in) financing 665 Exxon Mobil Corp. 71 62 activities (63) 82 1,028 Halliburton Co. 56 37 Net increase (decrease) in cash (2) - 62 Helmerich & Payne, Inc. 6 4 Cash (bank overdraft) beginning of year 9 9 320 Hess Corp. 32 18 1,286 Marathon Oil Corp. 43 25 Cash (bank overdraft) end of year 79 328 Marathon Petroleum Corp. 34 26 Supplemental information on cash flows from operating activities: 340 Noble Energy, Inc. 15 9 Dividends received, net of foreign withholding taxes 39 32 285 Occidental Petroleum Corp. 29 24 651 Parsley Energy, Inc. 26 14 1,061 Patterson-UTI Energy, Inc. 25 15 327 Phillips 66 33 39 206 Pioneer Natural Resources Co. 45 37 476 Range Resources Corp. 23 6 319 RPC, Inc. 8 4 336 Valero Energy Corp. 35 34 862 Williams Cos., Inc. 32 26 908 WPX Energy, Inc. 15 14 1,058 822 Materials 0.4% 15 Albemarle Corp. 1 1 49 DowDuPont, Inc. 5 4 65 1,064 827 Global 21.6% Energy 20.8% 1,279 BP PLC, ADR 66 66 137 DHT Holdings, Inc. 1 1 520 Equinor ASA 18 15 1,162 Galp Energia SGPS SA 28 25 2,789 Hurricane Energy PLC 2 2 906 Lundin Petroleum AB 19 31 637 Rowan Companies PLC 19 7 1,016 Royal Dutch Shell PLC, ADR, Class A 81 81 549 Schlumberger Ltd. 61 27 600 TechnipFMC PLC 25 16

The accompanying notes are an integral part of the financial statements.

211 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL ENERGY POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL ENERGY POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 254 Total SA 21 19 1,488 Suncor Energy, Inc. 63 57 332 Transocean Ltd. 6 3 3,258 Tidewater Midstream and Infrastructure 347 293 Ltd. 4 4 693 Tourmaline Oil Corp. 36 12 Materials 0.8% 2,335 Trican Well Service Ltd. 7 3 22 BHP Billiton Ltd., ADR 1 2 81 LyondellBasell Industries NV 10 9 453 275 11 11 Investments 1,875 1,406 358 304 Transaction costs (1) Canada 19.6% Total investments 1,874 1,406 Energy 19.6% Other assets less liabilities (0.1%) (1) 3,592 Advantage Oil & Gas Ltd. 23 7 Net assets attributable to 1,051 ARC Resources Ltd. 19 8 unitholders 100.0% 1,405 878 Calfrac Well Services Ltd. 8 2 72 Cameco Corp. 1 1 CONCENTRATION RISK 1,114 Canadian Natural Resources Ltd. 50 37 The following table summarizes the Fund’s concentration risk. 2,515 Cenovus Energy, Inc. 43 24 2,315 Encana Corp. 43 18 % of net assets attributable to 1,337 Enerplus Corp. 21 14 unitholders 889 Husky Energy, Inc. 16 13 Portfolio by category December 31, 2018 December 31, 2017 171 Imperial Oil Ltd. 7 6 Equities 231 International Petroleum Corp. 2 1 United States 2,693 Kelt Exploration Ltd. 13 12 Energy 58.5 54.2 356 Keyera Corp. 15 9 Materials 0.4 0.2 3,693 Leucrotta Exploration, Inc. 5 4 Global 1,026 NexGen Energy Ltd. 2 2 Energy 20.8 14.1 2,359 NuVista Energy Ltd. 19 10 Materials 0.8 0.7 173 Paramount Resources Ltd., Class A 8 1 Canada 454 Parex Resources, Inc. 6 7 Energy 19.6 30.7 91 Pembina Pipeline Corp. 4 4 Other assets less liabilities (0.1) 0.1 2,328 Precision Drilling Corp. 17 6 100.0 100.0 1,154 Seven Generations Energy Ltd. 21 13

The accompanying notes are an integral part of the financial statements.

212 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL PRECIOUS METALS POOLED MANULIFE ASSET MANAGEMENT GLOBAL PRECIOUS METALS POOLED FUND FUND

Assets Income Current assets Dividend income 22 17 Investments, at fair value 1,977 2,112 Foreign exchange gain (loss) on currency 1 (6) Cash 4 80 Realized gain (loss) on sales of investments 35 (27) Receivable from investments sold 63 - Change in unrealized appreciation (depreciation) in Interest, dividends and other receivables 1 - the value of investments (315) (73) 2,045 2,192 (257) (89) Liabilities Expenses Audit fees 4 4 Current liabilities Transfer agent fees 3 4 Payable on investments purchased 61 - Unitholder reporting costs 2 3 Accrued expenses and other liabilities 7 6 Custodial fees 3 3 68 6 Transaction costs 1 - Net assets attributable to unitholders 1,977 2,186 13 14 Net assets attributable to unitholders per unit Increase (decrease) in net assets attributable 8.29 9.46 to unitholders (270) (103) Increase (decrease) in net assets attributable to unitholders per unit (1.13) (0.45)

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 2,186 2,183 Increase (decrease) in net assets attributable to unitholders (270) (103) Security transactions Proceeds from units issued 90 106 Redemption of units (29) -

Total security transactions 61 106

Net assets attributable to unitholders - end of year 1,977 2,186

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 231 221 Units issued 10 10 Units issued for reinvestment of distributions - - Units redeemed (3) -

Units outstanding end of year 238 231

The accompanying notes are an integral part of the financial statements.

213 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL PRECIOUS METALS POOLED MANULIFE ASSET MANAGEMENT GLOBAL PRECIOUS METALS POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 98.9% Increase (decrease) in net assets attributable to Canada 72.9% unitholders (270) (103) Materials 72.9% Adjustments for: 3,486 Agnico Eagle Mines Ltd. 148 193 Change in unrealized foreign exchange gain (loss) 10,761 Alamos Gold, Inc. 75 53 on currency (3) 3 4,500 Amarillo Gold Corp. 2 1 Realized gain (loss) on sales of investments (35) 27 4,750 Argonaut Gold, Inc. 18 7 Change in unrealized appreciation (depreciation) in 11,200 Asanko Gold, Inc. 26 10 the value of investments 315 73 14,900 B2Gold Corp. 39 59 Purchases of investments (389) (283) 4,097 Barrick Gold Corp. 75 76 Proceeds from disposition of investments 242 255 30,700 Belo Sun Mining Corp. 25 12 Interest, dividends and other receivables (1) - 7,500 Continental Gold, Inc. 21 17 Accrued expenses and other liabilities 1 4 4,178 Detour Gold Corp. 72 48 1,610 Eldorado Gold Corp. 61 6 Net cash provided by (used in) operating 10,753 Equinox Gold Corp. 13 11 activities (140) (24) 552 First Quantum Minerals Ltd. 13 6 Cash flows from financing activities 6,700 Fortuna Silver Mines, Inc. 35 33 Proceeds from sale of units 90 106 1,452 Franco-Nevada Corp. 91 139 Payments for units redeemed (29) - 6,720 Goldcorp, Inc. 159 90 8,000 Guyana Goldfields, Inc. 27 13 Net cash provided by (used in) financing 828 Havilah Mining Corp. 1 - activities 61 106 3,200 Kinross Gold Corp. 16 14 Change in unrealized foreign exchange gain (loss) 3,375 Kirkland Lake Gold Ltd. 78 120 on currency 3 (3) 12,500 Lucara Diamond Corp. 30 18 Net increase (decrease) in cash (79) 82 975 Lundin Gold, Inc. 4 5 Cash (bank overdraft) beginning of year 80 1 3,200 Lundin Mining Corp. 19 18 4,180 MAG Silver Corp. 39 42 Cash (bank overdraft) end of year 480 27,900 Mandalay Resources Corp. 26 2 Supplemental information on cash flows from operating activities: 775 Mountain Province Diamonds, Inc. 3 2 Dividends received, net of foreign withholding taxes 21 17 5,200 New Gold, Inc. 32 5 16,267 OceanaGold Corp. 55 81 4,000 Orezone Gold Corp. 4 2 1,344 Osisko Gold Royalties Ltd. 19 16 3,900 Osisko Mining Corp. 11 12 550 Platinum Group Metals Ltd. 53 1 2,125 Pretium Resources, Inc. 16 25 4,366 Probe Metals, Inc. 4 6 4,000 Pure Gold Mining, Inc. 2 3 33,400 Roxgold, Inc. 25 27 66 Rubicon Minerals Corp. 15 - 7,950 Sandstorm Gold Ltd. 44 50 150 Seabridge Gold, Inc. 3 3 9,518 SEMAFO, Inc. 42 28 6,000 Sirios Resources, Inc. 2 1 1,075 Solaris Copper, Inc. - - 32,500 Stornoway Diamond Corp. 20 6 3,050 Tahoe Resources, Inc. 56 15 2,850 TMAC Resources, Inc. 27 20 2,365 Torex Gold Resources, Inc. 40 31 3,229 Wheaton Precious Metals Corp. 85 86 8,946 Yamana Gold, Inc. 68 29 1,739 1,442 Global 17.6% Materials 17.6% 6,150 Acacia Mining PLC 31 20 47 BHP Billiton Ltd., ADR 4 3 14,000 Centamin PLC 16 27

The accompanying notes are an integral part of the financial statements.

214 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL PRECIOUS METALS POOLED MANULIFE ASSET MANAGEMENT GLOBAL PRECIOUS METALS POOLED FUND FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 1,200 Doray Minerals Ltd. 1 - 3,880 Endeavour Mining Corp. 57 87 504 Evolution Mining Ltd. 1 2 2,225 Fresnillo PLC 34 33 6,167 Gemfields Group Ltd. 1 1 2,358 Newcrest Mining Ltd. 49 50 7,354 Petra Diamonds Ltd. 18 5 8,500 Rambler Metals and Mining PLC 1 - 1,017 Randgold Resources Ltd., ADR 92 115 4,000 SolGold PLC 3 2 138 South32 Ltd., ADR 1 2 309 347 United States 8.4% Materials 8.4% 1,175 Freeport-McMoRan, Inc. 46 17 2,663 Hecla Mining Co. 12 9 2,716 Newmont Mining Corp. 126 128 290 Southern Copper Corp. 10 12 194 166 2,242 1,955 EXCHANGE-TRADED FUNDS 1.1% 2,053 iShares Gold Bullion ETF 22 22 Investments 2,264 1,977 Transaction costs (4) Total investments 2,260 1,977 Other assets less liabilities 0.0% - Net assets attributable to unitholders 100.0% 1,977

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Equities Canada Materials 72.9 72.1 Global Materials 17.6 17.6 United States Materials 8.4 6.3 Exchange-Traded Funds 1.1 0.6 Other assets less liabilities - 3.4 100.0 100.0

The accompanying notes are an integral part of the financial statements.

215 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL SMALL CAP EQUITY POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL SMALL CAP EQUITY POOLED FUND

Assets Income Current assets Interest for distribution purposes, net of currency loss Investments, at fair value 9,757 8,028 on foreign short term notes 2 (14) Cash - 107 Dividend income 206 117 Interest, dividends and other receivables 13 5 Foreign exchange gain (loss) on currency 19 3 Income from securities lending - 6 9,770 8,140 Realized gain (loss) on sales of investments (16) 1,197 Liabilities Realized gain (loss) on derivatives (2) 21 Current liabilities Change in unrealized appreciation (depreciation) in Redemptions payable 9 9 the value of investments (1,597) (803) Accrued expenses and other liabilities 8 8 (1,388) 527 17 17 Expenses Audit fees 7 5 Net assets attributable to unitholders 9,753 8,123 Transfer agent fees 3 5 Net assets attributable to unitholders per unit Interest expense & bank charges 1 - 8.61 10.01 Unitholder reporting costs 8 4 Custodial fees 8 8 Foreign withholding taxes 27 14 Transaction costs 15 10 69 46 Increase (decrease) in net assets attributable to unitholders (1,457) 481 Increase (decrease) in net assets attributable to unitholders per unit (1.45) 1.00

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 8,123 4,557 Increase (decrease) in net assets attributable to unitholders (1,457) 481 Distribution to unitholders from: Net investment income (147) (443) Net realized gains - (20)

Total distributions to unitholders (147) (463)

Security transactions Proceeds from units issued 3,294 8,130 Reinvestments of distributions to unitholders 147 463 Redemption of units (207) (5,045)

Total security transactions 3,234 3,548

Net assets attributable to unitholders - end of year 9,753 8,123

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 812 459 Units issued 325 809 Units issued for reinvestment of distributions 17 46 Units redeemed (21) (502)

Units outstanding end of year 1,133 812

The accompanying notes are an integral part of the financial statements.

216 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL SMALL CAP EQUITY POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL SMALL CAP EQUITY POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 96.6% Increase (decrease) in net assets attributable to United States 45.8% unitholders (1,457) 481 Energy 2.3% Adjustments for: 22,063 Gran Tierra Energy, Inc. 72 66 Realized gain (loss) on sales of investments 16 (1,197) 5,684 Magnolia Oil & Gas Corp. 109 87 Realized gain (loss) on derivatives 2 (21) 4,836 Patterson-UTI Energy, Inc. 131 68 Change in unrealized appreciation (depreciation) in 312 221 the value of investments 1,597 803 Materials 2.6% Purchases of investments (9,314) (7,478) 1,031 Kaiser Aluminum Corp. 144 126 Proceeds from disposition of investments 5,970 4,415 4,713 Valvoline, Inc. 146 124 Interest, dividends and other receivables (8) - Accrued expenses and other liabilities - 7 290 250 Net cash provided by (used in) operating Industrials 8.7% activities (3,194) (2,990) 1,106 American Woodmark Corp. 154 84 1,509 Deluxe Corp. 140 79 Cash flows from financing activities 1,335 EMCOR Group, Inc. 139 109 Proceeds from sale of units 3,294 8,130 3,719 GMS, Inc. 167 76 Payments for units redeemed (207) (5,036) 2,424 Granite Construction, Inc. 140 133 Net cash provided by (used in) financing 3,164 Quanta Services, Inc. 136 130 activities 3,087 3,094 2,328 The Timken Co. 144 119 582 Unifirst Corp. 124 114 Net increase (decrease) in cash (107) 104 Cash (bank overdraft) beginning of year 107 3 1,144 844 Cash (bank overdraft) end of year - 107 Consumer Discretionary 4.1% 1,946 Dave & Buster’s Entertainment, Inc. 129 118 Supplemental information on cash flows from operating activities: 3,137 Penn National Gaming, Inc. 141 81 Interest received, net of currency loss on foreign 2,505 Tenneco, Inc. 171 94 short term notes and foreign withholding taxes - (14) 1,600 Williams-Sonoma, Inc. 112 110 Dividends received, net of foreign withholding taxes 173 103 Interest paid 1 - 553 403 Consumer Staples 0.5% 845 Spectrum Brands Holdings, Inc. 88 49 Health Care 4.6% 431 Bio-Rad Laboratories, Inc. 147 137 19,841 Enzo Biochem, Inc. 145 75 2,777 Prestige Brands Holdings, Inc. 126 117 2,228 Syneos Health, Inc. 119 120 537 449 Financials 8.4% 3,829 Access National Corp. 143 112 1,868 Banner Corp. 139 136 6,142 Brookline Bancorp, Inc. 127 116 1,276 South State Corp. 145 104 3,064 Union Bankshares Corp. 149 118 3,886 Univest Corp. Of PA 142 115 9,579 Valley National Bancorp 149 116 994 817 Information Technology 5.8% 6,130 Casa Systems, Inc. 142 110 6,965 GreenSky, Inc., Class A 126 91 1,080 j2 Global, Inc. 121 103 9,937 Lattice Semiconductor Corp. 109 94 4,752 Quantenna Communications, Inc. 101 93 5,886 TTM Technologies, Inc. 130 78 729 569

The accompanying notes are an integral part of the financial statements.

217 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL SMALL CAP EQUITY POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL SMALL CAP EQUITY POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) Communication Services 3.4% 4,001 Neopost SA 144 149 3,380 Boingo Wireless, Inc. 102 95 832 NICE-Systems Ltd. 99 123 2,536 Cinemark Holdings, Inc. 121 124 688 624 21,235 Zynga, Inc. 117 114 Communication Services 6.8% 340 333 595 Com2uS Corp. 96 94 Utilities 1.4% 5,100 Dena Co., Ltd. 123 117 2,221 Portland General Electric Co. 134 139 3,046 Ipsos SA 144 98 3,342 Lagardère SCA 137 115 Real Estate 4.0% 2,734 Modern Times Group MTG AB 142 123 2,293 American Assets Trust, Inc. 112 126 4,246 Orange Belgium 111 114 3,357 First Industrial Realty Trust, Inc. 138 132 6,128 Physicians Realty Trust 140 134 753 661 390 392 Utilities 1.0% 4,852 EVN AG 112 95 5,511 4,466 Real Estate 4.1% Global 44.7% 33 Advance Residence Investment Corp. 104 124 Materials 4.0% 13,571 Hammerson PLC 118 78 3,454 Corbion NV 140 132 131,117 Redefine Properties Ltd. 129 120 138,300 PT Semen Indonesia (Persero) Tbk 123 151 160,500 SOHO China Ltd. 113 78 9,633 RPC Group PLC 139 109 464 400 402 392 4,817 4,364 Industrials 7.1% 3,500 COMSYS Holdings Corp. 122 117 Canada 6.1% 3,600 Hitachi Transport System Ltd. 120 140 Energy 1.2% 34,000 Johnson Electric Holdings Ltd. 164 94 16,568 Secure Energy Services, Inc. 132 116 30,541 QinetiQ Group PLC 119 152 Materials 2.7% 8,100 Tadano Ltd. 150 101 12,096 Detour Gold Corp. 147 139 3,888 Ultra Electronics Holdings PLC 91 88 21,622 Lundin Mining Corp. 155 122 766 692 302 261 Consumer Discretionary 1.7% Consumer Discretionary 1.0% 2,800 Bandai Namco Holdings, Inc. 121 172 2,180 Linamar Corp. 141 99 Consumer Staples 5.2% Communication Services 1.2% 4,983 Ebro Foods SA 149 136 1,779 Cogeco Communications, Inc. 147 117 2,400 Matsumotokiyoshi Holdings Co., Ltd. 129 101 237,800 PT Indofood Sukses Makmur Tbk 161 168 722 593 4,088 Tiger Brands Ltd. 128 106 11,050 9,423 567 511 SHORT-TERM INVESTMENTS 3.4% Health Care 5.0% USD 244 State Street Co. Can US Dollar Call 4,650 Ansell Ltd. 115 98 Deposit, 1,305 Gerresheimer AG 139 117 1.00%, Jan 03, 2019 322 334 4,400 Medipal Holdings Corp. 117 129 Investments 11,372 9,757 4,152 RHOEN-KLINIKUM AG 172 143 Transaction costs (15) 543 487 Total investments 11,357 9,757 Financials 3.4% 5,900 Credit Saison Co., Ltd. 138 95 Other assets less liabilities 0.0% (4) 15,500 Mitsubishi UFJ Lease & Finance Co., Ltd. 117 102 Net assets attributable to 10,835 UNIQA Insurance Group AG 146 133 unitholders 100.0% 9,753 401 330 Information Technology 6.4% 3,800 Alps Electric Co., Ltd. 118 101 33,602 Equiniti Group PLC 172 126 930 Hirose Electric Co., Ltd. 155 125

The accompanying notes are an integral part of the financial statements.

218 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL SMALL CAP EQUITY POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL SMALL CAP EQUITY POOLED FUND

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Equities United States Energy 2.3 1.9 Materials 2.6 2.5 Industrials 8.7 9.8 Consumer Discretionary 4.1 5.1 Consumer Staples 0.5 2.0 Health Care 4.6 6.3 Financials 8.4 8.3 Information Technology 5.8 6.6 Communication Services 3.4 1.0 Utilities 1.4 2.0 Real Estate 4.0 4.6 Global Energy - 1.1 Materials 4.0 3.7 Industrials 7.1 5.6 Consumer Discretionary 1.7 7.0 Consumer Staples 5.2 3.9 Health Care 5.0 3.7 Financials 3.4 4.7 Information Technology 6.4 6.1 Communication Services 6.8 0.9 Utilities 1.0 1.1 Real Estate 4.1 4.5 Canada Energy 1.2 1.1 Materials 2.7 2.3 Consumer Discretionary 1.0 2.1 Communication Services 1.2 - Short-Term Investments 3.4 0.9 Other assets less liabilities - 1.2 100.0 100.0

The accompanying notes are an integral part of the financial statements.

219 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

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Assets Income Current assets Interest for distribution purposes, net of currency loss Investments, at fair value 674,799 514,146 on foreign short term notes 1,755 (150) Cash 6,946 6,764 Dividend income 22,169 16,317 Margin deposited on derivatives 1,983 958 Foreign exchange gain (loss) on income 26 17 Subscriptions receivable 227 654 Foreign exchange gain (loss) on currency 635 (16) Receivable from investments sold 45 3 Income from securities lending 92 92 Interest, dividends and other receivables 1,886 1,395 Other income (loss) - 1 Realized gain (loss) on sales of investments 692 4,257 Derivative assets - 272 Realized gain (loss) on derivatives (4,348) 4,390 685,886 524,192 Change in unrealized appreciation (depreciation) in Liabilities the value of investments (63,284) 52,725 Change in unrealized appreciation (depreciation) in Current liabilities Redemptions payable 4 95 the value of derivatives (872) 304 Payable on investments purchased 41 - (43,135) 77,937 Accrued expenses and other liabilities 50 42 Expenses Derivative liabilities 600 - Audit fees 6 7 695 137 Transfer agent fees 14 14 Interest expense & bank charges 7 7 Net assets attributable to unitholders 685,191 524,055 Unitholder reporting costs 49 36 Net assets attributable to unitholders per unit Custodial fees 143 86 12.95 14.18 Foreign withholding taxes 1,923 1,346 Transaction costs 405 87 2,547 1,583 Less operating expenses absorbed by manager - (3) Net operating expenses 2,547 1,580 Increase (decrease) in net assets attributable to unitholders (45,682) 76,357 Increase (decrease) in net assets attributable to unitholders per unit (1.01) 2.18

The accompanying notes are an integral part of the financial statements.

220 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

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STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS STATEMENTS OF CASH FLOWS

For the years ended December 31 2018 2017 For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts) ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - Cash flows from operating activities beginning of year 524,055 453,302 Increase (decrease) in net assets attributable to Increase (decrease) in net assets attributable to unitholders (45,682) 76,357 unitholders (45,682) 76,357 Distribution to unitholders from: Adjustments for: Net investment income (17,611) (19,339) Change in unrealized foreign exchange gain (loss) Net realized gains (639) (3,549) on currency (126) 28 Realized gain (loss) on sales of investments (692) (4,257) Total distributions to unitholders (18,250) (22,888) Realized gain (loss) on derivatives 4,348 (4,390) Security transactions Change in unrealized appreciation (depreciation) in Proceeds from units issued 234,196 32,896 the value of investments 63,284 (52,725) Reinvestments of distributions to unitholders 18,250 22,888 Change in unrealized appreciation (depreciation) in Redemption of units (27,378) (38,500) the value of derivatives 872 (304) Total security transactions 225,068 17,284 Purchases of investments (4,164,528) (530,309) Proceeds from disposition of investments 3,936,934 521,958 Net assets attributable to unitholders - end of year 685,191 524,055 Margin on derivatives (1,025) 1,115 Changes due to unitholder transactions (Note 4) Interest, dividends and other receivables (491) (176) Units outstanding beginning of year 36,952 35,768 Accrued expenses and other liabilities 8 3 Units issued 16,506 2,342 Net cash provided by (used in) operating Units issued for reinvestment of distributions 1,373 1,614 activities (207,098) 7,300 Units redeemed (1,924) (2,772) Cash flows from financing activities Units outstanding end of year 52,907 36,952 Proceeds from sale of units 234,623 32,588 Payments for units redeemed (27,469) (38,731) Net cash provided by (used in) financing activities 207,154 (6,143) Change in unrealized foreign exchange gain (loss) on currency 126 (28) Net increase (decrease) in cash 56 1,157 Cash (bank overdraft) beginning of year 6,764 5,635 Cash (bank overdraft) end of year 6,946 6,764 Supplemental information on cash flows from operating activities: Interest received, net of currency loss on foreign short term notes and foreign withholding taxes 1,755 (150) Dividends received, net of foreign withholding taxes 19,755 14,812 Interest paid 7 7

The accompanying notes are an integral part of the financial statements.

221 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

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SCHEDULE OF INVESTMENT PORTFOLIO PAR VALUE ($) (’000)/ As at December 31, 2018 NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) 2,200 Fast Retailing Co., Ltd. 911 1,544 4,700 Fuji Electric Co., Ltd. 150 190 EQUITIES 96.0% 14,800 FUJIFILM Holdings Corp. 586 787 Japan 23.3% 7,600 Fujitsu Ltd. 524 648 1,300 ABC-Mart, Inc. 86 98 5,700 Fukuoka Financial Group, Inc. 155 159 14,900 Acom Co., Ltd. 61 67 9,000 Hakuhodo DY Holdings, Inc. 117 176 23,500 Aeon Co., Ltd. 417 629 5,400 Hamamatsu Photonics KK 173 248 4,200 AEON Financial Service Co., Ltd. 108 102 8,800 Hankyu Hanshin Holdings, Inc. 322 400 3,800 Aeon Mall Co., Ltd. 96 83 800 Hikari Tsushin, Inc. 99 171 5,600 Air Water, Inc. 106 116 9,700 Hino Motors Ltd. 130 126 6,200 Aisin Seiki Co., Ltd. 299 295 1,155 Hirose Electric Co., Ltd. 166 155 17,600 Ajinomoto Co., Inc. 333 429 2,200 Hisamitsu Pharmaceutical Co., Inc. 143 166 7,200 Alfresa Holdings Corp. 152 251 3,900 Hitachi Chemical Co., Ltd. 88 81 7,300 Alps Electric Co., Ltd. 273 194 4,200 Hitachi Construction Machinery Co., Ltd. 126 134 13,200 Amada Holdings Co., Ltd. 146 162 2,600 Hitachi High-Technologies Corp. 94 112 4,400 ANA Holdings, Inc. 152 216 37,200 Hitachi Ltd. 1,434 1,359 4,600 Aozora Bank Ltd. 188 188 8,500 Hitachi Metals Ltd. 124 122 7,100 Asahi Glass Co., Ltd. 313 303 62,700 Honda Motor Co., Ltd. 2,534 2,259 13,900 Asahi Group Holdings Ltd. 547 739 2,100 Hoshizaki Corp. 226 175 3,700 Asahi Intecc Co., Ltd. 230 214 14,700 Hoya Corp. 647 1,211 48,500 Asahi Kasei Corp. 528 682 11,200 Hulic Co., Ltd. 131 137 6,000 Asics Corp. 119 105 5,200 Idemitsu Kosan Co., Ltd. 186 234 72,300 Astellas Pharma, Inc. 1,063 1,261 5,700 IHI Corp. 228 215 7,700 Bandai Namco Holdings, Inc. 233 472 5,800 Iida Group Holdings Co., Ltd. 126 137 2,000 Bank of Kyoto Ltd. 104 113 39,300 Inpex Corp. 579 480 2,700 Benesse Holdings, Inc. 115 94 13,000 Isetan Mitsukoshi Holdings Ltd. 184 197 23,400 Bridgestone Corp. 955 1,234 21,200 Isuzu Motors Ltd. 310 409 8,600 Brother Industries Ltd. 166 175 54,300 ITOCHU Corp. 902 1,262 3,200 Calbee, Inc. 116 137 9,000 J Front Retailing Co., Ltd. 144 141 38,500 Canon, Inc. 1,563 1,438 4,400 Japan Airlines Co., Ltd. 160 213 7,300 Casio Computer Co., Ltd. 114 118 1,800 Japan Airport Terminal Co., Ltd. 113 85 5,500 Central Japan Railway Co. 948 1,586 19,600 Japan Exchange Group, Inc. 316 434 23,300 Chubu Electric Power Co., Inc. 403 453 15,600 Japan Post Bank Co., Ltd. 278 235 8,600 Chugai Pharmaceutical Co., Ltd. 357 683 60,600 Japan Post Holdings Co., Ltd. 982 954 10,800 Chugoku Electric Power Co., Inc. 174 192 32 Japan Prime Realty Investment Corp. 128 166 5,200 Coca-Cola Bottlers Japan Holdings, Inc. 222 213 51 Japan Real Estate Investment Corp. 315 391 41,300 Concordia Financial Group Ltd. 264 217 101 Japan Retail Fund Investment Corp. 232 276 5,900 Credit Saison Co., Ltd. 136 95 42,300 Japan Tobacco, Inc. 1,467 1,378 3,900 CyberAgent, Inc. 265 206 18,900 JFE Holdings, Inc. 463 413 9,300 Dai Nippon Printing Co., Ltd. 225 266 7,800 JGC Corp. 235 150 10,200 Daicel Corp. 117 144 7,500 JSR Corp. 169 155 3,900 Daifuku Co., Ltd. 278 244 8,100 JTEKT Corp. 138 124 41,500 Dai-ichi Life Holdings, Inc. 802 888 125,200 JX Holdings, Inc. 859 899 21,800 Daiichi Sankyo Co., Ltd. 635 953 17,300 Kajima Corp. 237 318 9,600 Daikin Industries Ltd. 885 1,398 5,400 Kakaku.com, Inc. 115 131 2,800 Daito Trust Construction Co., Ltd. 402 523 4,200 Kamigumi Co., Ltd. 92 118 21,800 Daiwa House Industry Co., Ltd. 632 949 1,900 Kaneka Corp. 84 93 67 Daiwa House REIT Investment Corp. 216 205 27,100 Kansai Electric Power Co., Inc. 425 557 62,100 Daiwa Securities Group, Inc. 491 430 6,900 Kansai Paint Co., Ltd. 125 182 4,300 Dena Co., Ltd. 151 98 19,000 Kao Corp. 1,075 1,929 16,800 Denso Corp. 919 1,023 5,500 Kawasaki Heavy Industries Ltd. 223 161 8,300 Dentsu, Inc. 401 507 68,200 KDDI Corp. 1,683 2,228 1,100 Disco Corp. 269 176 3,700 Keihan Holdings Co., Ltd. 134 206 4,600 Don Quijote Holdings Co., Ltd. 209 391 8,600 Keikyu Corp. 172 192 11,700 East Japan Railway Co. 1,104 1,414 4,000 Keio Corp. 183 318 9,700 Eisai Co., Ltd. 627 1,027 5,000 Keisei Electric Railway Co., Ltd. 132 214 5,700 Electric Power Development Co., Ltd. 194 185 3,700 Keyence Corp. 1,531 2,565 2,400 FamilyMart UNY Holdings Co., Ltd. 189 416 5,600 Kikkoman Corp. 188 412 7,500 FANUC Corp. 1,644 1,556 6,600 Kintetsu Group Holdings Co., Ltd. 289 392

The accompanying notes are an integral part of the financial statements.

222 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

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PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 31,600 Kirin Holdings Co., Ltd. 683 904 4,400 Nintendo Co., Ltd. 1,340 1,604 1,900 Kobayashi Pharmaceutical Co., Ltd. 214 177 52 Nippon Building Fund, Inc. 334 447 11,600 Kobe Steel Ltd. 184 110 3,200 Nippon Electric Glass Co., Ltd. 122 107 4,000 Koito Manufacturing Co., Ltd. 195 283 2,900 Nippon Express Co., Ltd. 181 221 35,500 Komatsu Ltd. 1,076 1,045 5,600 Nippon Paint Holdings Co., Ltd. 170 262 3,600 Konami Holdings Corp. 139 215 67 Nippon Prologis REIT, Inc. 164 193 17,500 Konica Minolta, Inc. 191 216 29,200 Nippon Steel & Sumitomo Metal Corp. 847 688 1,200 Kose Corp. 198 258 26,600 Nippon Telegraph & Telephone Corp. 1,055 1,484 37,900 Kubota Corp. 643 737 6,000 Nippon Yusen KK 181 126 12,300 Kuraray Co., Ltd. 197 237 4,900 Nissan Chemical Industries Ltd. 245 351 3,700 Kurita Water Industries Ltd. 110 123 89,300 Nissan Motor Co., Ltd. 1,006 979 12,300 Kyocera Corp. 732 843 7,600 Nisshin Seifun Group, Inc. 128 215 10,000 Kyowa Hakko Kirin Co., Ltd. 179 259 2,400 Nissin Foods Holdings Co., Ltd. 157 206 14,600 Kyushu Electric Power Co., Inc. 214 238 3,100 Nitori Holdings Co., Ltd. 352 530 6,200 Kyushu Railway Co. 273 287 6,300 Nitto Denko Corp. 455 435 1,900 Lawson, Inc. 148 164 133,100 Nomura Holdings, Inc. 908 697 2,700 LINE Corp. 136 127 4,700 Nomura Real Estate Holdings, Inc. 114 118 8,700 Lion Corp. 201 246 150 Nomura Real Estate Master Fund, Inc. 266 270 10,400 LIXIL Group Corp. 270 176 4,300 Nomura Research Institute Ltd. 166 218 16,200 M3, Inc. 246 297 13,900 NSK Ltd. 181 164 8,600 Makita Corp. 336 418 24,200 NTT Data Corp. 258 363 60,100 Marubeni Corp. 495 578 50,900 NTT DOCOMO, Inc. 1,198 1,567 7,300 Marui Group Co., Ltd. 112 194 24,900 Obayashi Corp. 224 308 2,100 Maruichi Steel Tube Ltd. 69 91 2,500 Obic Co., Ltd. 215 264 21,800 Mazda Motor Corp. 408 308 11,300 Odakyu Electric Railway Co., Ltd. 263 340 2,500 McDonald’s Holdings Co. Japan Ltd. 93 145 33,100 Oji Holdings Corp. 205 233 30,900 Mebuki Financial Group, Inc. 150 112 11,200 Olympus Corp. 454 471 6,600 Medipal Holdings Corp. 132 193 7,400 Omron Corp. 347 368 4,700 MEIJI Holdings Co., Ltd. 303 524 14,600 Ono Pharmaceutical Co., Ltd. 358 408 14,800 Minebea Co., Ltd. 269 293 1,500 Oracle Corp. 98 131 10,900 MISUMI Group, Inc. 303 315 7,700 Oriental Land Co., Ltd. 569 1,060 49,200 Mitsubishi Chemical Holdings Corp. 395 510 50,900 ORIX Corp. 891 1,017 52,000 Mitsubishi Corp. 1,415 1,955 14,400 Osaka Gas Co., Ltd. 325 360 70,100 Mitsubishi Electric Corp. 1,022 1,062 4,100 Otsuka Corp. 145 154 45,500 Mitsubishi Estate Co., Ltd. 1,096 980 15,000 Otsuka Holdings Co., Ltd. 659 839 6,100 Mitsubishi Gas Chemical Co., Inc. 117 126 84,900 Panasonic Corp. 1,193 1,047 11,700 Mitsubishi Heavy Industries Ltd. 643 576 4,500 PARK24 Co., Ltd. 129 135 4,100 Mitsubishi Materials Corp. 152 148 6,900 Persol Holdings Co., Ltd. 213 141 25,900 Mitsubishi Motors Corp. 273 194 4,400 Pigeon Corp. 241 257 9,800 Mitsubishi Tanabe Pharma Corp. 198 193 3,600 Pola Orbis Holdings, Inc. 127 133 451,900 Mitsubishi UFJ Financial Group, Inc. 3,121 3,026 33,100 Rakuten, Inc. 435 303 15,100 Mitsubishi UFJ Lease & Finance Co., Ltd. 89 99 42,400 Recruit Holdings Co., Ltd. 899 1,405 63,600 Mitsui & Co., Ltd. 1,154 1,338 32,200 Renesas Electronics Corp. 405 200 7,100 Mitsui Chemicals, Inc. 172 220 80,400 Resona Holdings, Inc. 488 529 34,300 Mitsui Fudosan Co., Ltd. 1,030 1,044 25,800 Ricoh Co., Ltd. 325 346 4,300 Mitsui OSK Lines Ltd. 181 128 1,300 Rinnai Corp. 119 117 927,600 Mizuho Financial Group, Inc. 2,049 1,967 3,600 Rohm Co., Ltd. 288 315 4,800 MonotaRO Co., Ltd. 173 162 900 Ryohin Keikaku Co., Ltd. 303 297 18,200 MS&AD Insurance Group Holdings, Inc. 577 710 1,700 Sankyo Co., Ltd. 82 88 6,900 Murata Manufacturing Co., Ltd. 902 1,285 14,100 Santen Pharmaceutical Co., Ltd. 198 278 4,400 Nabtesco Corp. 138 131 8,589 SBI Holdings, Inc. 184 231 7,000 Nagoya Railroad Co., Ltd. 178 252 8,100 Secom Co., Ltd. 609 919 10,000 NEC Corp. 327 406 6,500 Sega Sammy Holdings, Inc. 133 124 17,200 Nexon Co., Ltd. 224 303 8,600 Seibu Holdings, Inc. 204 205 10,100 NGK Insulators Ltd. 206 187 10,800 Seiko Epson Corp. 219 208 6,000 NGK Spark Plug Co., Ltd. 147 164 14,200 Sekisui Chemical Co., Ltd. 213 288 3,500 NH Foods Ltd. 168 180 23,900 Sekisui House Ltd. 422 482 8,600 Nidec Corp. 908 1,336 29,000 Seven & I Holdings Co., Ltd. 1,292 1,727 12,300 Nikon Corp. 266 250 22,300 Seven Bank Ltd. 87 87

The accompanying notes are an integral part of the financial statements.

223 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 3,600 SG Holdings Co., Ltd. 107 128 19,200 Tokyu Corp. 308 429 8,200 Sharp Corp. 197 112 23,300 Tokyu Fudosan Holdings Corp. 215 157 8,500 Shimadzu Corp. 157 230 9,500 Toppan Printing Co., Ltd. 171 191 900 Shimamura Co., Ltd. 103 94 53,300 Toray Industries, Inc. 479 512 2,900 Shimano, Inc. 371 560 25,100 Toshiba Corp. 1,043 969 21,300 Shimizu Corp. 171 237 10,100 Tosoh Corp. 234 180 14,000 Shin-Etsu Chemical Co., Ltd. 1,159 1,488 5,400 TOTO Ltd. 220 256 5,800 Shinsei Bank Ltd. 118 95 5,900 Toyo Seikan Group Holdings Ltd. 117 185 10,600 Shionogi & Co., Ltd. 442 827 3,500 Toyo Suisan Kaisha Ltd. 133 167 14,600 Shiseido Co., Ltd. 603 1,253 2,400 Toyoda Gosei Co., Ltd. 61 65 16,700 Shizuoka Bank Ltd. 185 179 5,600 Toyota Industries Corp. 312 355 5,200 Showa Denko KK 322 212 87,800 Toyota Motor Corp. 5,780 7,002 7,100 Showa Shell Sekiyu KK 92 136 8,200 Toyota Tsusho Corp. 261 331 2,200 SMC Corp. 720 910 4,600 Trend Micro, Inc. 232 342 31,700 SoftBank Group Corp. 2,454 2,883 1,400 Tsuruha Holdings, Inc. 203 164 2,700 Sohgo Security Services Co., Ltd. 171 173 15,500 Unicharm Corp. 411 687 12,800 Sompo Holdings, Inc. 477 595 112 United Urban Investment Corp. 201 237 48,800 Sony Corp. 1,946 3,235 8,500 USS Co., Ltd. 155 196 6,700 Sony Financial Holdings, Inc. 139 171 1,800 Welcia Holdings Co., Ltd. 121 111 5,100 Stanley Electric Co., Ltd. 152 196 6,300 West Japan Railway Co. 406 609 23,700 Subaru Corp. 744 696 109,400 Yahoo Japan Corp. 524 373 9,100 SUMCO Corp. 288 139 4,600 Yakult Honsha Co., Ltd. 341 442 57,300 Sumitomo Chemical Co., Ltd. 323 380 24,600 Yamada Denki Co., Ltd. 145 161 43,300 Sumitomo Corp. 702 842 7,400 Yamaguchi Financial Group, Inc. 88 97 6,200 Sumitomo Dainippon Pharma Co., Ltd. 115 270 5,200 Yamaha Corp. 155 303 29,000 Sumitomo Electric Industries Ltd. 495 528 10,800 Yamaha Motor Co., Ltd. 256 290 4,300 Sumitomo Heavy Industries Ltd. 151 175 11,900 Yamato Holdings Co., Ltd. 298 448 8,900 Sumitomo Metal Mining Co., Ltd. 329 327 4,700 Yamazaki Baking Co., Ltd. 97 135 51,100 Sumitomo Mitsui Financial Group, Inc. 2,420 2,319 9,200 Yaskawa Electric Corp. 234 309 12,800 Sumitomo Mitsui Trust Holdings, Inc. 615 641 8,800 Yokogawa Electric Corp. 150 208 13,700 Sumitomo Realty & Development Co., Ltd. 564 687 7,800 ZOZO, Inc. 215 195 6,400 Sumitomo Rubber Industries Ltd. 113 104 135,126 159,951 2,800 Sundrug Co., Ltd. 153 114 5,300 Suntory Beverage & Food Ltd. 244 327 Great Britain 15.4% 2,800 Suzuken Co., Ltd. 115 195 37,424 3i Group PLC 360 503 13,200 Suzuki Motor Corp. 564 915 7,735 Admiral Group PLC 223 275 6,400 Sysmex Corp. 429 420 40,509 Anglo American PLC 1,199 1,232 21,400 T&D Holdings, Inc. 347 341 15,254 Antofagasta PLC 249 208 4,700 Taiheiyo Cement Corp. 174 199 18,669 Ashtead Group PLC 450 532 8,200 Taisei Corp. 312 480 13,695 Associated British Foods PLC 566 487 1,400 Taisho Pharmaceutical Holdings Co., Ltd. 154 192 48,703 AstraZeneca PLC 3,588 4,975 4,900 Taiyo Nippon Sanso Corp. 65 110 36,418 Auto Trader Group PLC 274 288 5,300 Takashimaya Co., Ltd. 108 93 150,787 Aviva PLC 1,201 985 27,500 Takeda Pharmaceutical Co., Ltd. 1,522 1,268 9,465 Babcock International Group PLC 160 81 5,000 TDK Corp. 394 481 122,787 BAE Systems PLC 1,002 981 6,700 Teijin Ltd. 132 147 658,000 Barclays PLC 2,768 1,723 11,700 Terumo Corp. 501 907 38,985 Barratt Developments PLC 416 314 23,500 The Chiba Bank Ltd. 187 180 4,772 Berkeley Group Holdings PLC 297 289 4,600 The Yokohama Rubber Co., Ltd. 108 118 81,210 BHP Group PLC 2,402 2,333 4,700 THK Co., Ltd. 148 121 768,151 BP PLC 6,362 6,627 7,400 Tobu Railway Co., Ltd. 232 273 88,192 British American Tobacco PLC 5,505 3,835 4,400 Toho Co., Ltd. 130 218 324,299 BT Group PLC 1,723 1,343 2,800 Toho Gas Co., Ltd. 91 162 12,923 Bunzl PLC 370 533 16,400 Tohoku Electric Power Co., Inc. 249 296 15,920 Burberry Group PLC 420 481 25,900 Tokio Marine Holdings, Inc. 1,137 1,688 6,662 Carnival PLC 391 436 1,600 Tokyo Century Corp. 124 96 217,006 Centrica PLC 929 509 55,600 Tokyo Electric Power Co.Holdings, Inc. 432 452 8,395 Coca-Cola European Partners PLC 434 526 6,000 Tokyo Electron Ltd. 711 935 60,903 Compass Group PLC 1,236 1,748 14,800 Tokyo Gas Co., Ltd. 419 513 53,911 ConvaTec Group PLC 256 130

The accompanying notes are an integral part of the financial statements.

224 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 5,060 Croda International PLC 291 412 26,225 United Utilities Group PLC 338 336 94,641 Diageo PLC, ADR 3,292 4,601 1,027,260 Vodafone Group PLC 5,019 2,732 52,819 Direct Line Insurance Group PLC 292 293 9,466 Weir Group PLC 318 214 5,949 easyJet PLC 154 114 7,061 Whitbread PLC 443 562 8,277 Fresnillo PLC 161 124 86,372 WM Morrison Supermarkets PLC 354 320 60,115 G4S PLC 263 206 108,886 105,421 190,694 GlaxoSmithKline PLC 4,804 4,946 29,736 Hammerson PLC 274 170 France 9.8% 10,940 Hargreaves Lansdown PLC 272 352 7,250 Accor SA 427 420 765,425 HSBC Holdings PLC 8,698 8,613 1,140 Aéroports de Paris 194 295 36,672 Imperial Brands PLC 1,617 1,516 16,465 Air Liquide SA 2,170 2,788 48,113 Informa PLC 622 527 5,974 Alstom SA 289 329 6,965 InterContinental Hotels Group PLC 396 513 2,352 Amundi SA 258 169 6,201 Intertek Group PLC 372 518 2,644 Arkema SA 325 309 26,161 Investec PLC 226 201 3,689 Atos SE 440 412 139,254 ITV PLC 401 302 74,535 AXA SA 2,131 2,195 67,641 J Sainsbury PLC 349 312 1,621 bioMerieux 173 146 26,039 John Wood Group PLC 318 229 43,247 BNP Paribas SA 3,449 2,665 7,440 Johnson Matthey PLC 387 362 33,915 Bolloré SA 227 185 81,893 Kingfisher PLC 450 296 8,436 Bouygues SA 418 413 28,519 Land Securities Group PLC 491 399 10,172 Bureau Veritas SA 296 283 229,152 Legal & General Group PLC 860 921 6,163 Capgemini SA 656 835 2,735,467 Lloyds Banking Group PLC 3,340 2,467 22,747 Carrefour SA 772 530 12,043 London Stock Exchange Group PLC 593 851 2,070 Casino Guichard-Perrashon SA 185 117 62,428 Marks & Spencer Group PLC 410 268 6,649 CNP Assurances 161 192 29,833 Meggitt PLC 244 244 19,111 Compagnie de Saint-Gobain 1,118 870 186,731 Melrose Industries PLC 708 532 6,536 Compagnie générale des établissements 27,918 Merlin Entertainments PLC 196 154 Michelin SCA 839 885 16,758 Micro Focus International PLC 613 403 44,080 Crédit Agricole SA 716 649 14,115 Mondi PLC 425 401 23,702 Danone SA 2,012 2,276 130,705 National Grid PLC 1,898 1,737 96 Dassault Aviation SA 175 181 5,369 NEXT PLC 458 373 5,025 Dassault Systemes 516 814 4,011 NMC Health PLC 244 191 9,193 Edenred 333 461 30,027 Pearson PLC 533 490 2,993 Eiffage SA 354 341 12,036 Persimmon PLC 376 404 23,151 Électricité de France SA 490 499 99,653 Prudential PLC 2,366 2,430 70,228 Engie SA 1,682 1,373 25,820 Reckitt Benckiser Group PLC 2,410 2,701 8,000 Essilor International SA 1,067 1,380 76,005 RELX PLC 1,533 2,135 1,819 Eurazeo SA 155 175 45,123 Rio Tinto PLC 2,718 2,928 6,787 Eutelsat Communications SA 231 182 64,684 Rolls-Royce Holdings PLC 1,037 934 2,964 Faurecia 284 153 185,321 Royal Bank of Scotland Group PLC 958 699 1,454 Foncière des Régions 169 191 176,691 Royal Dutch Shell PLC, Class A 6,708 7,092 1,756 Gecina SA 316 310 144,005 Royal Dutch Shell PLC, Class B 5,375 5,862 17,948 Groupe Eurotunnel SE 246 329 34,913 Royal Mail PLC 331 165 1,217 Hermès International 713 921 39,447 RSA Insurance Group PLC 386 352 1,312 ICADE 139 136 4,807 Schroders PLC 224 204 1,030 Iliad SA 236 197 38,899 SEGRO PLC 308 398 1,341 Imerys SA 123 88 9,116 Severn Trent PLC 286 288 2,304 Ingenico Group SA 325 178 33,635 Smith & Nephew PLC 611 857 1,451 Ipsen SA 260 256 15,203 Smiths Group PLC 363 361 2,787 JCDecaux SA 119 107 39,046 SSE PLC 907 735 2,913 Kering 1,008 1,872 20,344 St. James’s Place PLC 383 334 7,853 Klépierre 414 331 107,989 Standard Chartered PLC 1,815 1,145 10,248 Legrand SA 706 789 89,797 Standard Life Aberdeen PLC 708 401 9,689 L’Oréal SA 2,063 3,044 126,006 Taylor Wimpey PLC 427 299 10,680 LVMH Moët Hennessy Louis Vuitton SE 2,807 4,305 376,363 Tesco PLC 1,770 1,245 36,328 Natixis SA 267 234 35,745 The British Land Co. PLC 401 332 76,712 Orange SA 1,443 1,695 41,678 The Sage Group PLC 356 436 8,163 Pernod Ricard SA 1,223 1,826 43,485 Unilever PLC 2,224 3,108 22,611 Peugeot SA 520 658

The accompanying notes are an integral part of the financial statements.

225 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 8,137 Publicis Groupe SA 677 636 2,723 Fuchs Petrolub SE, Preferred 158 153 846 Remy Cointreau SA 103 131 6,234 GEA Group AG 294 219 7,390 Renault SA 749 629 2,314 Hannover Rueck SE 272 425 11,810 Rexel SA 268 171 5,717 HeidelbergCement AG 537 476 12,825 Safran SA 1,253 2,111 3,990 Henkel AG & Co. KGaA 443 534 43,302 Sanofi 4,405 5,115 6,850 Henkel AG & Co. KGaA, Preferred 858 1,020 1,060 Sartorius Stedim Biotech SA 143 145 812 HOCHTIEF AG 153 149 21,141 Schneider Electric SE 1,956 1,971 2,443 Hugo Boss AG 304 206 6,263 SCOR SE 265 385 43,697 Infineon Technologies AG 841 1,185 881 SEB SA 177 155 5,339 Innogy SE 275 339 1,007 Societe BIC SA 132 140 2,740 KION Group AG 302 190 29,508 Société Générale SA 1,742 1,282 3,346 Lanxess AG 270 210 3,479 Sodexo SA 409 486 4,965 Merck KGaA 493 697 14,331 Suez 284 258 7,068 METRO AG 190 148 2,220 Teleperformance SE 442 484 1,998 MTU Aero Engines AG 469 494 4,085 Thales SA 402 651 5,748 Muenchener 92,193 Total SA 6,116 6,647 Rueckversicherungs-Gesellschaft AG in 3,063 Ubisoft Entertainment SA 330 337 Muenchen 1,337 1,710 1,319 Unibail-Rodamco SE & WFD 3,835 Osram Licht AG 257 227 Unibail-Rodamco NV 362 279 5,886 Porsche Automobil Holding SE 542 475 23,980 Unibail-Rodamco SE & WFD 8,970 ProSiebenSat.1 Media AG 410 218 Unibail-Rodamco NV,ADR 345 247 321 Puma SE 215 214 2,791 Unibail-Rodamco-Westfield 807 590 19,922 RWE AG 740 590 9,232 Valeo SA 510 368 37,784 SAP SE 3,868 5,128 20,574 Veolia Environnement SA 521 577 1,372 Sartorius AG 262 233 19,503 Vinci SA 1,730 2,193 29,410 Siemens AG 4,175 4,471 40,139 Vivendi SA 1,171 1,334 5,757 Siemens Healthineers AG 300 328 1,079 Wendel SA 166 176 4,738 Symrise AG 397 477 29,087 Telefonica Deutschland Holding AG 188 155 61,105 67,487 16,752 ThyssenKrupp AG 522 392 Germany 8.4% 16,941 TUI AG 384 332 1,985 1&1 Drillisch Aktiengesellschaft 186 138 7,735 Uniper SE 298 273 7,239 Adidas AG 1,258 2,062 4,724 United Internet AG 250 282 16,527 Allianz SE 3,425 4,519 1,246 Volkswagen AG 291 271 1,897 Axel Springer SE 144 146 7,137 Volkswagen AG, Preferred 1,619 1,548 35,312 BASF SE 3,836 3,330 18,921 Vonovia SE 927 1,170 35,851 Bayer AG 4,538 3,390 4,512 Wirecard AG 709 936 12,729 Bayerische Motoren Werke AG 1,460 1,405 4,332 Zalando SE 236 152 2,139 Bayerische Motoren Werke AG, Preferred 56,878 57,319 2.90% 194 207 3,870 Beiersdorf AG 427 551 Switzerland 8.3% 5,928 Brenntag AG 371 349 70,841 ABB Ltd. 1,877 1,835 38,502 Commerzbank AG 677 348 6,088 Adecco Group AG 490 387 4,228 Continental AG 960 797 1,874 Baloise Holding AG 281 351 7,394 Covestro AG 768 498 85 Barry Callebaut AG 138 180 34,963 Daimler AG 3,045 2,506 45 Chocoladefabriken Lindt & Sprüngli AG 557 752 3,579 Delivery Hero SE 213 182 7,706 Clariant AG 260 193 75,481 Deutsche Bank AG 2,253 821 7,783 Coca-Cola HBC AG 259 332 7,420 Deutsche Boerse AG 848 1,216 20,070 Compagnie Financière Richemont SA 1,905 1,752 9,113 Deutsche Lufthansa AG 248 280 98,283 Credit Suisse Group AG 2,435 1,471 37,948 Deutsche Post AG 1,461 1,417 1,257 Dufry AG 216 162 128,153 Deutsche Telekom AG 2,360 2,965 315 EMS-Chemie Holding AG 164 204 13,718 Deutsche Wohnen AG 517 857 1,423 Geberit AG 574 754 84,626 E.ON SE 1,547 1,140 355 Givaudan SA 729 1,119 6,293 Evonik Industries AG 289 214 8,604 Julius Baer Group Ltd. 490 417 1,624 Fraport AG Frankfurt Airport Services 2,073 Kuehne + Nagel International AG 339 363 Worldwide 149 158 18,664 LafargeHolcim Ltd. 1,370 1,047 8,308 Fresenius Medical Care AG & Co. KGaA 787 735 2,862 Lonza Group AG 647 1,010 16,029 Fresenius SE & Co. KGaA 1,131 1,061 117,768 Nestlé SA 10,054 13,020

The accompanying notes are an integral part of the financial statements.

226 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 83,352 Novartis AG 7,472 9,705 142,915 Mirvac Group 260 308 1,446 Pargesa Holding SA 138 142 105,135 National Australia Bank Ltd. 3,060 2,433 667 Partners Group Holding AG 350 551 29,549 Newcrest Mining Ltd. 610 619 27,011 Roche Holding AG 7,487 9,109 14,569 Orica Ltd. 307 242 2,338 Schindler Holding AG 468 626 67,625 Origin Energy Ltd. 653 421 205 SGS SA 539 628 51,705 QBE Insurance Group Ltd. 627 502 4,980 Sika AG 475 860 5,431 Ramsay Health Care Ltd. 255 301 2,133 Sonova Holding AG 364 475 2,064 REA Group Ltd. 114 147 396 Straumann Holding AG 316 339 14,270 Rio Tinto Ltd. 981 1,077 1,315 Swiss Life Holding AG 413 690 68,014 Santos Ltd. 493 358 2,918 Swiss Prime Site AG 296 322 204,505 Scentre Group 898 767 11,716 Swiss Re AG 1,151 1,463 12,863 Seek Ltd. 190 209 996 Swisscom AG 585 648 15,519 Sonic Healthcare Ltd. 281 330 2,320 Temenos AG 448 379 40,483 South32 Ltd. 80 130 3,356 The Swatch Group AG 864 640 156,093 South32 Ltd. 392 503 148,223 UBS Group AG 3,056 2,513 93,620 Stockland 363 317 1,746 Vifor Pharma Ltd. 331 259 49,907 Suncorp Group Ltd. 603 606 5,819 Zurich Insurance Group AG 1,984 2,363 42,451 Sydney Airport 216 275 73,506 Tabcorp Holdings Ltd. 346 303 49,522 57,061 160,075 Telstra Corp. Ltd. 652 439 Australia 6.6% 69,411 The GPT Group 290 356 25,216 AGL Energy Ltd. 434 499 13,895 TPG Telecom Ltd. 98 86 94,672 Alumina Ltd. 173 209 100,526 Transurban Group 930 1,126 44,513 Amcor Ltd. 498 567 27,620 Treasury Wine Estates Ltd. 258 393 112,239 AMP Ltd. 537 264 126,562 Vicinity Centres 342 316 45,362 APA Group 341 371 4,133 Washington H Soul Pattinson & Co., Ltd. 105 99 22,095 Aristocrat Leisure Ltd. 330 464 43,583 Wesfarmers Ltd. 1,796 1,350 7,440 ASX Ltd. 327 429 132,073 Westpac Banking Corp. 3,786 3,180 76,438 Aurizon Holdings Ltd. 325 315 35,975 Woodside Petroleum Ltd 1,234 1,083 67,663 AusNet Services 98 101 50,478 Woolworths Ltd. 1,473 1,428 110,494 Australia & New Zealand Banking Group 12,331 WorleyParsons Ltd. 158 135 Ltd. 3,031 2,599 45,437 45,101 15,575 Bank of Queensland Ltd. 177 145 18,859 Bendigo & Adelaide Bank Ltd. 198 196 Netherlands 4.1% 123,486 BHP Billiton Ltd. 4,161 4,064 16,256 ABN AMRO Group NV 526 521 20,599 BlueScope Steel Ltd. 260 217 68,451 Aegon NV 555 436 45,248 Boral Ltd. 262 215 4,800 AerCap Holdings NV 284 260 61,183 Brambles Ltd. 566 597 22,384 Airbus Group SE 2,088 2,934 10,020 Caltex Australia Ltd. 279 246 9,710 Akzo Nobel NV 885 1,067 21,281 Challenger Ltd. 195 194 15,759 ASML Holding NV 2,427 3,375 3,803 CIMIC Group Ltd. 117 159 39,053 CNH Industrial NV 511 479 19,684 Coca-Cola Amatil Ltd. 211 155 4,166 EXOR NV 236 307 2,215 Cochlear Ltd. 246 370 4,712 Ferrari NV 436 638 43,551 Coles Group Ltd. 522 492 41,726 Fiat Chrysler Automobiles NV 657 826 67,667 Commonwealth Bank of Australia 4,688 4,710 4,424 Heineken Holding NV 401 509 17,732 Computershare Ltd. 230 293 9,962 Heineken NV 964 1,201 14,762 Crown Resorts Ltd. 189 168 149,612 ING Groep NV 2,466 2,198 17,393 CSL Ltd. 1,716 3,097 47,925 Koninklijke Ahold Delhaize NV 1,093 1,652 39,119 Dexus Property Group 297 399 6,973 Koninklijke DSM NV 617 778 2,237 Domino’s Pizza Enterprises Ltd. 134 87 129,211 Koninklijke KPN NV 558 516 2,081 Flight Centre Travel Group Ltd. 90 86 36,529 Koninklijke Philips NV 1,468 1,764 60,063 Fortescue Metals Group Ltd. 275 242 2,748 Koninklijke Vopak NV 163 170 62,774 Goodman Group 391 642 11,704 NN Group NV 531 636 22,085 Harvey Norman Holdings Ltd. 74 67 13,200 NXP Semiconductors NV 1,735 1,321 62,192 Incitec Pivot Ltd. 216 196 8,696 Qiagen NV 278 403 88,797 Insurance Australia Group Ltd. 530 598 4,571 Randstad Holding NV 308 286 22,165 LendLease Group 294 248 26,251 STMicroelectronics NV 435 512 12,435 Macquarie Group Ltd. 897 1,299 105,892 Medibank Pvt Ltd. 277 262

The accompanying notes are an integral part of the financial statements.

227 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 59,331 Unilever NV 3,038 4,393 46,000 Wharf Holdings Ltd. 303 164 11,153 Wolters Kluwer NV 494 900 32,000 Wheelock & Co., Ltd. 204 250 23,154 28,082 14,085 18,406 Spain 3.0% Sweden 2.4% 9,667 ACS Actividades de Construccion y 11,273 Alfa Laval AB 298 329 Servicios SA 430 511 38,513 Assa Abloy AB 774 938 2,592 Aena SA 430 549 25,803 Atlas Copco AB 909 837 16,868 Amadeus IT Group SA 1,017 1,602 15,002 Atlas Copco AB, Class B 479 447 256,350 Banco Bilbao Vizcaya Argentaria SA 2,782 1,855 10,502 Boliden AB 275 311 216,189 Banco de Sabadell SA 578 338 9,241 Electrolux AB 278 266 625,425 Banco Santander SA 5,364 3,880 25,142 Epiroc AB, Class A 334 325 47,745 Bankia SA 308 191 15,262 Epiroc AB, Class B 191 185 25,870 Bankinter SA 279 283 23,299 Essity AB 858 781 137,947 CaixaBank SA 761 681 33,687 Hennes & Mauritz AB 1,185 654 8,706 Enagas SA 275 321 9,934 Hexagon AB 463 624 12,208 Endesa SA 322 384 16,275 Husqvarna AB 150 165 18,880 Ferrovial SA 432 522 3,149 ICA Gruppen AB 139 154 13,466 Gas Natural SDG SA 355 468 6,503 Industrivarden AB 149 180 11,459 Grifols SA 302 410 17,509 Investor AB 733 1,013 233,691 Iberdrola SA 1,945 2,561 9,292 Kinnevik AB 351 306 41,929 Industria de Diseno Textil SA 1,404 1,463 2,846 L E Lundbergforetagen AB 119 114 22,924 International Consolidated Airlines Group 7,205 Lundin Petroleum AB 195 246 SA 180 248 43,377 Sandvik AB 778 844 42,134 Mapfre SA 171 153 12,025 Securitas AB 188 263 16,636 Red Electrica Corp. SA 355 506 62,552 Skandinaviska Enskilda Banken AB, 104,306 Repsol SA 1,297 1,178 Class A 799 830 9,280 Siemens Gamesa Renewable Energy SA 250 154 13,056 Skanska AB 300 284 179,670 Telefonica SA 2,842 2,059 14,553 SKF AB 379 301 58,689 Svenska Handelsbanken AB, Class A 920 889 22,079 20,317 34,812 Swedbank AB 940 1,060 Hong Kong 2.7% 6,760 Swedish Match AB 281 364 464,200 AIA Group Ltd. 3,258 5,263 19,184 Tele2 AB 301 334 48,800 Bank of East Asia Ltd. 226 212 118,114 Telefonaktiebolaget LM Ericsson, Class B 1,378 1,418 142,000 BOC Hong Kong Holdings Ltd. 620 721 108,191 Telia Co. AB 766 700 63,000 CLP Holdings Ltd. 674 973 60,207 Volvo AB, Class B 1,056 1,075 91,000 Galaxy Entertainment Group Ltd. 705 790 15,966 16,237 35,000 Hang Lung Group Ltd. 162 122 79,000 Hang Lung Properties Ltd. 261 206 Italy 1.9% 29,400 Hang Seng Bank Ltd. 663 902 45,097 Assicurazioni Generali SpA 1,007 1,028 51,138 Henderson Land Development Co., Ltd. 371 348 19,037 Atlantia SpA 573 537 104,000 HK Electric Investments & HK Electric 22,353 Davide Campari-Milano SpA 225 258 Investments Ltd. 119 143 312,684 Enel SpA 1,881 2,462 145,673 HKT Trust & HKT Ltd. 213 287 97,782 Eni SpA 2,304 2,099 354,819 Hong Kong & China Gas Co., Ltd. 870 1,003 572,044 Intesa Sanpaolo SpA 1,945 1,732 45,500 Hong Kong Exchanges & Clearing Ltd. 1,296 1,798 15,676 Leonardo-Finmeccanica SpA 188 188 24,000 Hysan Development Co., Ltd. 133 156 6,523 Luxottica Group SpA 410 527 81,500 Link REIT 589 1,127 23,834 Mediobanca SpA 273 274 58,500 MTR Corp., Ltd. 308 420 6,872 Moncler SpA 402 310 235,000 New World Development Co., Ltd. 369 425 15,697 Pirelli & C SpA 171 137 159,000 PCCW Ltd. 98 125 20,227 Poste Italiane SpA 208 221 53,500 Power Assets Holdings Ltd. 509 509 9,284 Prysmian SpA 273 245 126,000 Sino Land Co., Ltd. 237 295 4,076 Recordati SpA 210 193 74,000 SJM Holdings Ltd. 150 94 86,571 Snam SpA 515 516 61,500 Sun Hung Kai Properties Ltd. 1,055 1,197 670,546 Telecom Italia SpA 748 482 19,000 Swire Pacific Ltd., Class A 255 274 54,015 Terna Rete Elettrica Nazionale SpA 315 418 45,200 Swire Properties Ltd. 171 217 77,158 UniCredit SpA 2,270 1,192 53,000 Techtronic Industries Co., Ltd. 266 385 13,918 12,819

The accompanying notes are an integral part of the financial statements.

228 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) Denmark 1.7% 20,504 UPM-Kymmene Oyj 563 709 145 AP Moeller - Maersk A/S 304 234 17,033 Wartsila OYJ Abp 344 370 251 AP Moeller - Maersk A/S, Class B 538 430 7,432 8,185 4,108 Carlsberg A/S, Class B 501 595 3,799 Chr Hansen Holding A/S 363 458 Jersey 1.2% 4,562 Coloplast A/S 388 577 35,175 Experian PLC 765 1,166 27,541 Danske Bank A/S 907 743 8,911 Ferguson PLC 632 778 7,221 DSV A/S 416 648 438,701 Glencore PLC 2,314 2,223 2,362 Genmab A/S 463 528 3,635 Randgold Resources Ltd. 337 414 2,737 H. Lundbeck A/S 198 163 35,162 Shire PLC 2,239 2,795 6,406 ISS A/S 265 244 48,509 WPP PLC 1,011 714 69,846 Novo Nordisk A/S 3,478 4,353 7,298 8,090 8,407 Novozymes A/S 425 512 7,269 Oersted A/S 449 663 Belgium 0.9% 4,228 Pandora A/S 441 235 7,017 Ageas 341 430 4,732 Tryg A/S 112 162 29,294 Anheuser-Busch InBev SA/NV 3,268 2,639 7,509 Vestas Wind Systems A/S 533 773 2,328 Colruyt SA 144 226 3,951 William Demant Holding A/S 109 153 3,099 Groupe Bruxelles Lambert SA 342 368 9,591 KBC Group NV 706 849 9,890 11,471 5,879 Proximus SADP 209 217 Singapore 1.3% 2,847 Solvay SA 430 388 101,600 Ascendas REIT 221 262 1,982 Telenet Group Holding NV 129 126 102,100 CapitaLand Commercial Trust 155 179 4,856 UCB SA 419 541 98,500 CapitaLand Ltd. 287 307 8,049 Umicore SA 347 438 96,100 CapitaLand Mall Trust 173 218 6,335 6,222 16,100 City Developments Ltd. 149 131 84,300 ComfortDelGro Corp., Ltd. 160 182 Norway 0.7% 69,000 DBS Group Holdings Ltd. 1,214 1,638 4,229 AKER BP ASA 199 145 233,700 Genting Singapore Ltd. 272 228 36,937 DNB ASA 732 805 3,700 Jardine Cycle & Carriage Ltd. 117 131 44,876 Equinor ASA 1,226 1,301 55,800 Keppel Corp., Ltd. 440 330 7,809 Gjensidige Forsikring ASA 153 167 120,900 Oversea-Chinese Banking Corp., Ltd. 1,130 1,364 15,991 MOWI ASA 380 461 25,300 SATS Ltd. 118 118 51,560 Norsk Hydro ASA 322 319 36,800 Sembcorp Industries Ltd. 134 94 31,242 Orkla ASA 322 335 20,900 Singapore Airlines Ltd. 200 197 3,828 Schibsted ASA, Class B 157 158 31,100 Singapore Exchange Ltd. 204 223 28,369 Telenor ASA 671 750 62,500 Singapore Press Holdings Ltd. 193 147 6,810 Yara International ASA 356 358 60,500 Singapore Technologies Engineering Ltd. 190 212 4,518 4,799 311,900 Singapore Telecommunications Ltd. 970 925 Cayman Islands 0.7% 83,700 Suntec REIT 144 149 11,400 ASM Pacific Technology Ltd. 161 150 51,700 United Overseas Bank Ltd. 1,036 1,273 1,300 BeiGene Ltd. 265 249 18,900 UOL Group Ltd. 112 117 99,332 CK Asset Holdings Ltd. 1,060 993 10,700 Venture Corp., Ltd. 212 149 103,832 CK Hutchison Holdings Ltd. 2,004 1,362 74,100 Wilmar International Ltd. 234 232 9,600 Melco Crown Entertainment Ltd. 249 231 89,300 Yangzijiang Shipbuilding Holdings Ltd. 100 112 35,600 MGM China Holdings Ltd. 102 82 8,165 8,918 28,000 Minth Group Ltd. 190 123 Finland 1.2% 93,200 Sands China Ltd. 560 558 5,462 Elisa OYJ 211 308 338,500 WH Group Ltd. 359 356 17,069 Fortum Oyj 443 509 47,000 Wharf Real Estate Investment Co., Ltd. 412 384 13,018 Kone Oyj, Class B 666 846 60,800 Wynn Macau Ltd. 217 181 4,118 Metso OYJ 168 147 5,579 4,669 4,927 Neste Oyj 237 518 Ireland 0.6% 216,480 Nokia OYJ 1,648 1,700 31,667 AIB Group Public Ltd., Co. 250 182 4,533 Nokian Renkaat Oyj 216 190 37,295 Bank of Ireland Group Public Ltd., Co. 415 283 116,772 Nordea Bank Abp 1,561 1,342 31,961 CRH PLC 1,095 1,152 4,053 Orion Oyj, Class B 150 192 3,774 DCC PLC 453 393 17,029 Sampo Oyj 915 1,021 16,972 James Hardie Industries PLC 251 247 21,165 Stora Enso Oyj 310 333 5,269 Kerry Group PLC 528 712

The accompanying notes are an integral part of the financial statements.

229 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 844 Kerry Group PLC, Class A 29 113 15,631 Ryman Healthcare Ltd. 129 154 5,880 Kingspan Group PLC 340 343 70,518 Spark New Zealand Ltd. 184 268 3,169 Paddy Power Betfair PLC 575 355 1,335 1,515 926 Ryanair Holdings PLC, ADR 46 90 8,658 Smurfit Kappa Group PLC 461 314 Portugal 0.1% 54,131 Banco Espirito Santo SA 84 - 4,443 4,184 98,338 EDP - Energias de Portugal SA 435 468 Israel 0.5% 19,232 Galp Energia SGPS SA 375 414 1,589 Azrieli Group Ltd. 92 104 9,846 Jeronimo Martins SGPS SA 193 159 41,005 Bank Hapoalim BM 276 354 1,087 1,041 57,919 Bank Leumi Le-Israel BM 331 478 77,655 Bezeq The Israeli Telecommunication Papua New Guinea 0.1% Corp., Ltd. 149 104 52,643 Oil Search Ltd. 407 362 4,800 Check Point Software Technologies Ltd. 577 673 Isle Of Man 0.0% 921 Elbit Systems Ltd. 136 144 21,126 GVC Holdings PLC 357 248 27,200 Israel Chemicals Ltd. 227 211 Mauritius 0.0% 5,507 Mizrahi Tefahot Bank Ltd. 95 127 240,300 Golden Agri-Resources Ltd. 98 59 2,358 Nice Ltd. 187 347 37,179 Teva Pharmaceutical Industries Ltd., ADR 1,540 783 613,693 657,864 1,700 Wix.com Ltd. 213 210 SHORT-TERM INVESTMENTS 2.5% 3,823 3,535 USD 12,400 Federal Home Loan Bank Discount Notes, Bermuda 0.4% 1.06%, Jan 02, 2019 16,935 16,935 25,500 CK Infrastructure Holdings Ltd. 224 264 16,935 16,935 13,300 Dairy Farm International Holdings Ltd. 149 165 Investments 630,628 674,799 45,000 Hongkong Land Holdings Ltd. 391 387 8,500 Jardine Matheson Holdings Ltd. 676 808 Transaction costs (939) 8,500 Jardine Strategic Holdings Ltd. 419 426 Total Investments 629,689 674,799 24,500 Kerry Properties Ltd. 112 114 60,000 NWS Holdings Ltd. 121 168 Derivative liabilities (0.1%) (600) 50,000 Shangri-La Asia Ltd. 103 101 Other assets less liabilities 1.6% 10,992 27,500 Yue Yuen Industrial Holdings Ltd. 110 120 Net assets attributable to 2,305 2,553 unitholders 100.0% 685,191 Luxembourg 0.3% 25,549 ArcelorMittal 1,007 724 29,718 Aroundtown SA 338 335 440 Eurofins Scientific SE 278 224 2,561 Millicom International Cellular SA 229 221 1,449 RTL Group SA 175 106 14,003 SES SA 421 365 18,122 Tenaris SA 394 267 2,842 2,242 Austria 0.2% 2,833 Andritz AG 191 177 11,556 Erste Group Bank AG 527 524 5,653 OMV AG 308 338 5,716 Raiffeisen Bank International AG 225 198 2,613 Verbund AG 142 152 4,445 Voestalpine AG 230 181 1,623 1,570 New Zealand 0.2% 28,231 a2 Milk Co., Ltd. 279 288 37,086 Auckland International Airport Ltd. 151 244 21,954 Fisher & Paykel Healthcare Corp. Ltd. 261 261 33,529 Fletcher Building Ltd. 223 150 47,978 Meridian Energy Ltd. 108 150

The accompanying notes are an integral part of the financial statements.

230 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND MANULIFE ASSET MANAGEMENT INTERNATIONAL EQUITY INDEX POOLED FUND

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by Category December 31, 2018 December 31, 2017

Equities Japan 23.3 23.1 Great Britain 15.4 15.9 France 9.8 9.6 Germany 8.4 9.4 Switzerland 8.3 7.8 Australia 6.6 6.6 Netherlands 4.1 4.2 Spain 3.0 3.1 Hong Kong 2.7 2.4 Sweden 2.4 2.6 Italy 1.9 1.9 Denmark 1.7 1.8 Singapore 1.3 1.2 Finland 1.2 1.0 Jersey 1.2 1.2 Belgium 0.9 1.1 Norway 0.7 0.6 Cayman Islands 0.7 0.7 Ireland 0.6 0.6 Israel 0.5 0.4 Bermuda 0.4 0.3 Luxembourg 0.3 0.3 Austria 0.2 0.2 New Zealand 0.2 0.2 Portugal 0.1 0.1 Papua New Guinea 0.1 - Short-Term Investments 2.5 1.8 Derivative assets - 0.1 Derivative liabilities (0.1) - Other assets less liabilities 1.6 1.8 100.0 100.0

FUTURES CONTRACTS (0.1%) Commitment Unrealized No. of Contract Futures Delivery amount Price as at gain/(loss) contracts price contracts date ($) (’000) December 31, 2018 (CAD $) (’000) 224 USD 1,755.23 mini MSCI EAFE Index Futures Mar 15, 2019 USD 19,219 USD 1,716.00 (600) Derivative liabilities (600)

The accompanying notes are an integral part of the financial statements.

231 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 80 POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 80 POOLED FUND

Assets Income Current assets Distribution income from underlying funds 1,571 1,474 Investments, at fair value 29,231 34,793 Other income (loss) 1 - Cash 28 1,473 Realized gain (loss) on sales of investments 243 180 Subscriptions receivable - 760 Change in unrealized appreciation (depreciation) in Receivable from investments sold 10 - the value of investments (2,818) 1,678 29,269 37,026 (1,003) 3,332 Liabilities Expenses Audit fees 6 4 Current liabilities Transfer agent fees 4 3 Redemptions payable 10 - Unitholder reporting costs 11 8 Payable on investments purchased - 2,233 Custodial fees - 6 Accrued expenses and other liabilities 9 11 21 21 19 2,244 Increase (decrease) in net assets attributable Net assets attributable to unitholders 29,250 34,782 to unitholders (1,024) 3,311 Net assets attributable to unitholders per unit Increase (decrease) in net assets attributable to unitholders per unit 11.66 12.87 (0.39) 1.27

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 34,782 32,143 Increase (decrease) in net assets attributable to unitholders (1,024) 3,311 Distribution to unitholders from: Net investment income (859) (988) Net realized gains (948) (661)

Total distributions to unitholders (1,807) (1,649)

Security transactions Proceeds from units issued 1,198 2,585 Reinvestments of distributions to unitholders 1,807 1,649 Redemption of units (5,706) (3,257)

Total security transactions (2,701) 977

Net assets attributable to unitholders - end of year 29,250 34,782

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 2,703 2,626 Units issued 93 199 Units issued for reinvestment of distributions 155 128 Units redeemed (443) (250)

Units outstanding end of year 2,508 2,703

The accompanying notes are an integral part of the financial statements.

232 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 80 POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 80 POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities MUTUAL FUNDS 99.9% Increase (decrease) in net assets attributable to 599,163 Manulife Asset Management Canadian unitholders (1,024) 3,311 Equity Index Pooled Fund 10,309 9,303 Adjustments for: 918,925 Manulife Asset Management Canadian Distributions from underlying funds (1,571) (1,474) Long Duration Fixed Income Pooled Fund 10,824 10,131 Realized gain (loss) on sales of investments (243) (180) 368,894 Manulife Asset Management International Change in unrealized appreciation (depreciation) in Equity Index Pooled Fund 4,971 4,777 the value of investments 2,818 (1,678) 300,405 Manulife Asset Management US Equity Purchases of investments (4,181) (1,256) Index Pooled Fund 4,750 5,020 Proceeds from disposition of investments 6,496 4,047 Total investments 30,854 29,231 Receivable from Manager - 7 Accrued expenses and other liabilities (2) (2) Other assets less liabilities 0.1% 19 Net cash provided by (used in) operating Net assets attributable to activities 2,293 2,775 unitholders 100.0% 29,250

Cash flows from financing activities CONCENTRATION RISK Proceeds from sale of units 1,958 1,939 The following table summarizes the Fund’s concentration risk. Payments for units redeemed (5,696) (3,257) % of net assets attributable to Net cash provided by (used in) financing unitholders activities (3,738) (1,318) Portfolio by category December 31, 2018 December 31, 2017

Net increase (decrease) in cash (1,445) 1,457 Mutual Funds 99.9 100.0 Cash (bank overdraft) beginning of year 1,473 16 Other assets less liabilities 0.1 - 100.0 100.0 Cash (bank overdraft) end of year 28 1,473

The accompanying notes are an integral part of the financial statements.

233 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 90 POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 90 POOLED FUND

Assets Income Current assets Distribution income from underlying funds 1,511 1,464 Investments, at fair value 29,891 35,839 Other income (loss) 1 - Cash 38 1,469 Realized gain (loss) on sales of investments 257 124 Receivable from investments sold 11 758 Change in unrealized appreciation (depreciation) in Receivable from Manager - 5 the value of investments (2,544) 1,660 29,940 38,071 (775) 3,248 Liabilities Expenses Audit fees 6 6 Current liabilities Transfer agent fees 4 4 Redemptions payable 10 758 Unitholder reporting costs 11 11 Payable on investments purchased - 1,464 Custodial fees - 10 Accrued expenses and other liabilities 9 11 21 31 19 2,233 Less operating expenses absorbed by manager - (5) Net assets attributable to unitholders 29,921 35,838 Net operating expenses 21 26 Net assets attributable to unitholders per unit Increase (decrease) in net assets attributable 10.40 11.38 to unitholders (796) 3,222 Increase (decrease) in net assets attributable to unitholders per unit (0.27) 1.04

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 35,838 34,126 Increase (decrease) in net assets attributable to unitholders (796) 3,222 Distribution to unitholders from: Net investment income (922) (1,032) Net realized gains (896) (502)

Total distributions to unitholders (1,818) (1,534)

Security transactions Proceeds from units issued 970 755 Reinvestments of distributions to unitholders 1,818 1,534 Redemption of units (6,091) (2,265)

Total security transactions (3,303) 24

Net assets attributable to unitholders - end of year 29,921 35,838

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 3,151 3,148 Units issued 86 66 Units issued for reinvestment of distributions 175 135 Units redeemed (536) (198)

Units outstanding end of year 2,876 3,151

The accompanying notes are an integral part of the financial statements.

234 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 90 POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 90 POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities MUTUAL FUNDS 99.9% Increase (decrease) in net assets attributable to 458,362 Manulife Asset Management Canadian unitholders (796) 3,222 Equity Index Pooled Fund 7,918 7,117 Adjustments for: 1,349,828 Manulife Asset Management Canadian Distributions from underlying funds (1,511) (1,464) Long Duration Fixed Income Pooled Fund 15,705 14,881 Realized gain (loss) on sales of investments (257) (124) 296,603 Manulife Asset Management International Change in unrealized appreciation (depreciation) in Equity Index Pooled Fund 3,887 3,841 the value of investments 2,544 (1,660) 242,484 Manulife Asset Management US Equity Purchases of investments (3,133) (261) Index Pooled Fund 3,726 4,052 Proceeds from disposition of investments 7,588 2,487 Total investments 31,236 29,891 Receivable from Manager 5 (5) Accrued expenses and other liabilities (2) 7 Other assets less liabilities 0.1% 30 Net cash provided by (used in) operating Net assets attributable to activities 4,438 2,202 unitholders 100.0% 29,921

Cash flows from financing activities CONCENTRATION RISK Proceeds from sale of units 970 755 The following table summarizes the Fund’s concentration risk. Payments for units redeemed (6,839) (1,507) % of net assets attributable to Net cash provided by (used in) financing unitholders activities (5,869) (752) Portfolio by category December 31, 2018 December 31, 2017

Net increase (decrease) in cash (1,431) 1,450 Mutual Funds 99.9 100.0 Cash (bank overdraft) beginning of year 1,469 19 Other assets less liabilities 0.1 - 100.0 100.0 Cash (bank overdraft) end of year 38 1,469

The accompanying notes are an integral part of the financial statements.

235 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 100 POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 100 POOLED FUND

Assets Income Current assets Distribution income from underlying funds 26 7 Investments, at fair value 551 176 Realized gain (loss) on sales of investments 22 2 Cash 4 8 Change in unrealized appreciation (depreciation) in Receivable from Manager - 5 the value of investments (68) 6 555 189 (20) 15 Liabilities Expenses Audit fees 4 6 Current liabilities Transfer agent fees 3 5 Payable on investments purchased - 7 Unitholder reporting costs 2 2 Accrued expenses and other liabilities 8 5 Custodial fees 2 - 812 11 13 Net assets attributable to unitholders 547 177 Less operating expenses absorbed by manager (11) (12) Net assets attributable to unitholders per unit Net operating expenses - 1 9.43 9.90 Increase (decrease) in net assets attributable to unitholders (20) 14 Increase (decrease) in net assets attributable to unitholders per unit (0.56) 0.85

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 177 163 Increase (decrease) in net assets attributable to unitholders (20) 14 Distribution to unitholders from: Net investment income (16) (11)

Total distributions to unitholders (16) (11)

Security transactions Proceeds from units issued 406 - Reinvestments of distributions to unitholders 16 11 Redemption of units (16) -

Total security transactions 406 11

Net assets attributable to unitholders - end of year 547 177

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 18 17 Units issued 40 - Units issued for reinvestment of distributions 2 1 Units redeemed (2) -

Units outstanding end of year 58 18

The accompanying notes are an integral part of the financial statements.

236 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 100 POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 100 POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities MUTUAL FUNDS 100.7% Increase (decrease) in net assets attributable to 5,912 Manulife Asset Management Canadian unitholders (20) 14 Equity Index Pooled Fund 109 92 Adjustments for: 33,144 Manulife Asset Management Canadian Distributions from underlying funds (26) (7) Long Duration Fixed Income Pooled Fund 384 365 Realized gain (loss) on sales of investments (22) (2) 3,600 Manulife Asset Management International Change in unrealized appreciation (depreciation) in Equity Index Pooled Fund 52 47 the value of investments 68 (6) 2,847 Manulife Asset Management US Equity Purchases of investments (418) (2) Index Pooled Fund 55 47 Proceeds from disposition of investments 16 9 Total investments 600 551 Receivable from Manager 5 (2) Accrued expenses and other liabilities 3 4 Other assets less liabilities (0.7%) (4) Net cash provided by (used in) operating Net assets attributable to activities (394) 8 unitholders 100.0% 547

Cash flows from financing activities CONCENTRATION RISK Proceeds from sale of units 406 - The following table summarizes the Fund’s concentration risk. Payments for units redeemed (16) - % of net assets attributable to Net cash provided by (used in) financing unitholders activities 390 - Portfolio by category December 31, 2018 December 31, 2017

Net increase (decrease) in cash (4) 8 Mutual Funds 100.7 99.5 Cash (bank overdraft) beginning of year 8 - Other assets less liabilities (0.7) 0.5 100.0 100.0 Cash (bank overdraft) end of year 48

The accompanying notes are an integral part of the financial statements.

237 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 YOUNG POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 YOUNG POOLED FUND

Assets Income Current assets Distribution income from underlying funds 236 210 Investments, at fair value 4,356 4,347 Other income (loss) 2 - Cash 18 216 Realized gain (loss) on sales of investments 1 5 Receivable from investments sold 2 - Change in unrealized appreciation (depreciation) in Receivable from Manager - 10 the value of investments (308) 220 4,376 4,573 (69) 435 Liabilities Expenses Audit fees 4 3 Current liabilities Transfer agent fees 3 3 Redemptions payable 2 - Unitholder reporting costs 3 3 Payable on investments purchased - 209 Custodial fees 2 4 Accrued expenses and other liabilities 8 6 12 13 10 215 Less operating expenses absorbed by manager (8) (10) Net assets attributable to unitholders 4,366 4,358 Net operating expenses 4 3 Net assets attributable to unitholders per unit Increase (decrease) in net assets attributable 9.14 9.82 to unitholders (73) 432 Increase (decrease) in net assets attributable to unitholders per unit (0.16) 1.03

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 4,358 3,896 Increase (decrease) in net assets attributable to unitholders (73) 432 Distribution to unitholders from: Net investment income (194) (174) Net realized gains (40) (38)

Total distributions to unitholders (234) (212)

Security transactions Proceeds from units issued 111 54 Reinvestments of distributions to unitholders 234 212 Redemption of units (30) (24)

Total security transactions 315 242

Net assets attributable to unitholders - end of year 4,366 4,358

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 444 419 Units issued 11 6 Units issued for reinvestment of distributions 26 22 Units redeemed (3) (3)

Units outstanding end of year 478 444

The accompanying notes are an integral part of the financial statements.

238 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 YOUNG POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 YOUNG POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities MUTUAL FUNDS 99.8% Increase (decrease) in net assets attributable to 20,056 Manulife Asset Management Canadian unitholders (73) 432 Equity Index Pooled Fund 353 311 Adjustments for: 13,841 Manulife Asset Management International Distributions from underlying funds (236) (210) Equity Index Pooled Fund 174 179 Realized gain (loss) on sales of investments (1) (5) 355,167 Manulife Asset Management Ultra Long Change in unrealized appreciation (depreciation) in Duration Fixed Income Pooled Fund 3,813 3,691 the value of investments 308 (220) 10,491 Manulife Asset Management US Equity Purchases of investments (319) 80 Index Pooled Fund 148 175 Proceeds from disposition of investments 28 99 Total investments 4,488 4,356 Receivable from Manager 10 (1) Accrued expenses and other liabilities 2 3 Other assets less liabilities 0.2% 10 Net cash provided by (used in) operating Net assets attributable to activities (281) 178 unitholders 100.0% 4,366

Cash flows from financing activities CONCENTRATION RISK Proceeds from sale of units 111 54 The following table summarizes the Fund’s concentration risk. Payments for units redeemed (28) (24) % of net assets attributable to Net cash provided by (used in) financing unitholders activities 83 30 Portfolio by category December 31, 2018 December 31, 2017

Net increase (decrease) in cash (198) 208 Mutual Funds 99.8 99.7 Cash (bank overdraft) beginning of year 216 8 Other assets less liabilities 0.2 0.3 100.0 100.0 Cash (bank overdraft) end of year 18 216

The accompanying notes are an integral part of the financial statements.

239 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 AVERAGE POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 AVERAGE POOLED FUND

Assets Income Current assets Distribution income from underlying funds 70 288 Investments, at fair value 1,571 7,789 Other income (loss) 1 - Cash 16 292 Realized gain (loss) on sales of investments 17 23 Receivable from investments sold 2 1 Change in unrealized appreciation (depreciation) in Receivable from Manager - 15 the value of investments (179) 277 1,589 8,097 (91) 588 Liabilities Expenses Audit fees 4 5 Current liabilities Transfer agent fees 3 3 Redemptions payable 2 1 Unitholder reporting costs 2 4 Payable on investments purchased 9 287 Custodial fees 2 10 Accrued expenses and other liabilities 8 8 11 22 19 296 Less operating expenses absorbed by manager (7) (15) Net assets attributable to unitholders 1,570 7,801 Net operating expenses 4 7 Net assets attributable to unitholders per unit Increase (decrease) in net assets attributable 9.73 10.28 to unitholders (95) 581 Increase (decrease) in net assets attributable to unitholders per unit (0.24) 0.78

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 7,801 7,683 Increase (decrease) in net assets attributable to unitholders (95) 581 Distribution to unitholders from: Net investment income (106) (229) Net realized gains (48) (80)

Total distributions to unitholders (154) (309)

Security transactions Proceeds from units issued 1,297 64 Reinvestments of distributions to unitholders 154 309 Redemption of units (7,433) (527)

Total security transactions (5,982) (154)

Net assets attributable to unitholders - end of year 1,570 7,801

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 759 773 Units issued 125 6 Units issued for reinvestment of distributions 16 30 Units redeemed (739) (50)

Units outstanding end of year 161 759

The accompanying notes are an integral part of the financial statements.

240 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 AVERAGE POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 AVERAGE POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities MUTUAL FUNDS 100.1% Increase (decrease) in net assets attributable to 6,551 Manulife Asset Management Canadian unitholders (95) 581 Equity Index Pooled Fund 115 102 Adjustments for: 119,495 Manulife Asset Management Canadian Distributions from underlying funds (70) (288) Long Duration Fixed Income Pooled Fund 1,377 1,317 Realized gain (loss) on sales of investments (17) (23) 5,939 Manulife Asset Management International Change in unrealized appreciation (depreciation) in Equity Index Pooled Fund 78 77 the value of investments 179 (277) 4,465 Manulife Asset Management US Equity Purchases of investments (1,669) 94 Index Pooled Fund 72 75 Proceeds from disposition of investments 7,516 656 Total investments 1,642 1,571 Receivable from Manager 15 (6) Accrued expenses and other liabilities - 8 Other assets less liabilities (0.1%) (1) Net cash provided by (used in) operating Net assets attributable to activities 5,859 745 unitholders 100.0% 1,570

Cash flows from financing activities CONCENTRATION RISK Proceeds from sale of units 1,297 64 The following table summarizes the Fund’s concentration risk. Payments for units redeemed (7,432) (527) % of net assets attributable to Net cash provided by (used in) financing unitholders activities (6,135) (463) Portfolio by category December 31, 2018 December 31, 2017

Net increase (decrease) in cash (276) 282 Mutual Funds 100.1 99.8 Cash (bank overdraft) beginning of year 292 10 Other assets less liabilities (0.1) 0.2 100.0 100.0 Cash (bank overdraft) end of year 16 292

The accompanying notes are an integral part of the financial statements.

241 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 MATURE POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 MATURE POOLED FUND

Assets Income Current assets Distribution income from underlying funds 1 21 Investments, at fair value 9 822 Realized gain (loss) on sales of investments (20) (2) Cash - 26 Change in unrealized appreciation (depreciation) in Receivable from Manager - 5 the value of investments 22 16 9 853 335 Liabilities Expenses Audit fees 4 5 Current liabilities Transfer agent fees 3 4 Payable on investments purchased - 22 Unitholder reporting costs 2 3 Accrued expenses and other liabilities 8 5 Custodial fees 2 - 827 11 12 Net assets attributable to unitholders 1 826 Less operating expenses absorbed by manager (10) (11) Net assets attributable to unitholders per unit Net operating expenses 1 1 9.38 9.70 Increase (decrease) in net assets attributable to unitholders 234 Increase (decrease) in net assets attributable to unitholders per unit 0.03 0.39

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 826 858 Increase (decrease) in net assets attributable to unitholders 234 Distribution to unitholders from: Net investment income (19) (17) Net realized gains - (2) Return of capital (1) -

Total distributions to unitholders (20) (19)

Security transactions Proceeds from units issued 68 74 Reinvestments of distributions to unitholders 20 19 Redemption of units (895) (140)

Total security transactions (807) (47)

Net assets attributable to unitholders - end of year 1826

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 85 90 Units issued 7 7 Units issued for reinvestment of distributions 2 2 Units redeemed (94) (14)

Units outstanding end of year -85

The accompanying notes are an integral part of the financial statements.

242 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 MATURE POOLED FUND MANULIFE ASSET MANAGEMENT TARGET DE-RISKING 105 MATURE POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities MUTUAL FUNDS 900.0% Increase (decrease) in net assets attributable to 693 Manulife Asset Management Canadian unitholders 2 34 Core Fixed Income Pooled Fund 8 8 Adjustments for: 42 Manulife Asset Management Canadian Distributions from underlying funds (1) (21) Equity Index Pooled Fund 1 1 Realized gain (loss) on sales of investments 20 2 26 Manulife Asset Management International Change in unrealized appreciation (depreciation) in Equity Index Pooled Fund - - the value of investments (22) (16) 17 Manulife Asset Management US Equity Purchases of investments (102) (66) Index Pooled Fund - - Proceeds from disposition of investments 896 157 Total investments 9 9 Receivable from Manager 5 (2) Accrued expenses and other liabilities 3 3 Other assets less liabilities (800.0%) (8) Net cash provided by (used in) operating Net assets attributable to activities 801 91 unitholders 100.0% 1

Cash flows from financing activities CONCENTRATION RISK Proceeds from sale of units 68 74 The following table summarizes the Fund’s concentration risk. Payments for units redeemed (895) (140) % of net assets attributable to Net cash provided by (used in) financing unitholders activities (827) (66) Portfolio by category December 31, 2018 December 31, 2017

Net increase (decrease) in cash (26) 25 Mutual Funds 900.0 99.5 Cash (bank overdraft) beginning of year 26 1 Other assets less liabilities (800.0) 0.5 100.0 100.0 Cash (bank overdraft) end of year -26

The accompanying notes are an integral part of the financial statements.

243 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL OPPORTUNISTIC ALLOCATION POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL OPPORTUNISTIC ALLOCATION POOLED FUND

Assets Income Current assets Dividend income 10 11 Investments, at fair value 435 418 Foreign exchange gain (loss) on currency 3 - Cash 2 - Other income (loss) 1 - Receivable from Manager - 6 Realized gain (loss) on sales of investments 7 35 Interest, dividends and other receivables - 1 Change in unrealized appreciation (depreciation) in the value of investments (9) (14) 437 425 12 32 Liabilities Expenses Current liabilities Audit fees 5 4 Accrued expenses and other liabilities 8 6 Transfer agent fees 4 4 86Unitholder reporting costs 2 3 Custodial fees 3 1 Net assets attributable to unitholders 429 419 Foreign withholding taxes 1 1 Net assets attributable to unitholders per unit Transaction costs - 1 10.01 10.02 15 14 Less operating expenses absorbed by manager (13) (12) Net operating expenses 2 2 Increase (decrease) in net assets attributable to unitholders 10 30 Increase (decrease) in net assets attributable to unitholders per unit 0.24 0.77

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 419 389 Increase (decrease) in net assets attributable to unitholders 10 30 Distribution to unitholders from: Net investment income (11) (26)

Total distributions to unitholders (11) (26)

Security transactions Reinvestments of distributions to unitholders 11 26

Total security transactions 11 26

Net assets attributable to unitholders - end of year 429 419

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 42 39 Units issued - - Units issued for reinvestment of distributions 1 3 Units redeemed - -

Units outstanding end of year 43 42

The accompanying notes are an integral part of the financial statements.

244 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL OPPORTUNISTIC ALLOCATION POOLED FUND MANULIFE ASSET MANAGEMENT GLOBAL OPPORTUNISTIC ALLOCATION POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EXCHANGE-TRADED FUNDS 100.5% Increase (decrease) in net assets attributable to 306 Financial Select Sector SPDR Fund 11 10 unitholders 10 30 251 Invesco DB Gold Fund 13 13 Adjustments for: 304 Invesco Senior Loan ETF 9 9 Realized gain (loss) on sales of investments (7) (35) 875 iShares Core MSCI EAFE ETF 73 66 Change in unrealized appreciation (depreciation) in 467 iShares Core MSCI Emerging Markets ETF 31 30 the value of investments 9 14 35 iShares iBoxx $ Investment Grade Purchases of investments (766) (703) Corporate Bond ETF 5 5 Proceeds from disposition of investments 747 696 27 iShares JP Morgan USD Emerging Markets Receivable from Manager 6 (4) Bond ETF 4 4 Interest, dividends and other receivables 1 (1) 303 SPDR Bloomberg Barclays 1-3 Month T-Bill Accrued expenses and other liabilities 2 3 ETF 37 38 190 SPDR Bloomberg Barclays High Yield Bond Net cash provided by (used in) operating ETF 9 9 activities 2- 1,373 SPDR Bloomberg Barclays International Net increase (decrease) in cash 2- Treasury Bond ETF 50 52 Cash (bank overdraft) beginning of year - - 658 SPDR Bloomberg Barclays Short Term Cash (bank overdraft) end of year 2- International Treasury Bond ETF 27 27 184 SPDR S&P 500 ETF Trust 64 63 Supplemental information on cash flows from operating activities: 372 VanEck Vectors J.P. Morgan EM Local Dividends received, net of foreign withholding taxes 9 9 Currency Bond ETF 17 17 35 Vanguard Consumer Staples ETF 6 6 28 Vanguard Extended Market ETF 4 4 51 Vanguard Health Care ETF 11 11 45 Vanguard Information Technology ETF 10 10 40 Vanguard REIT ETF 4 4 209 Vanguard Short-Term Corporate Bond ETF 21 22 201 Vanguard Total Bond Market ETF 21 22 55 Vanguard Utilities ETF 8 9 435 431 SHORT-TERM INVESTMENTS 0.9% USD 3 State Street Co. Can US Dollar Call Deposit, 0.42%, Jan 03, 2019 4 4 Total investments 439 435 Other assets less liabilities (1.4%) (6) Net assets attributable to unitholders 100.0% 429

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to unitholders Portfolio by category December 31, 2018 December 31, 2017

Exchange-Traded Funds 100.5 98.4 Short-Term Investments 0.9 1.4 Other assets less liabilities (1.4) 0.2 100.0 100.0

The accompanying notes are an integral part of the financial statements.

245 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL ABSOLUTE RETURN STRATEGIES POOLED MANULIFE ASSET MANAGEMENT GLOBAL ABSOLUTE RETURN STRATEGIES POOLED FUND FUND

Assets Income Current assets Other income (loss) 61 37 Investments, at fair value 70,587 198,920 Realized gain (loss) on sales of investments 10,917 6,468 Cash 132 - Change in unrealized appreciation (depreciation) in Subscriptions receivable - 37 the value of investments (18,190) 1,951 Receivable from Manager - 35 (7,212) 8,456 70,719 198,992 Expenses Liabilities Audit fees 3 8 Transfer agent fees 3 4 Current liabilities Filing fees - 9 Accrued expenses and other liabilities 17 30 Interest expense & bank charges 2 1 17 30 Unitholder reporting costs 37 42 Custodial fees 8 8 Net assets attributable to unitholders 70,702 198,962 53 72 Net assets attributable to unitholders per unit Less operating expenses absorbed by manager - (35) 99.81 124.02 Net operating expenses 53 37 Increase (decrease) in net assets attributable to unitholders (7,265) 8,419 Increase (decrease) in net assets attributable to unitholders per unit (6.16) 4.84

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 198,962 263,901 Increase (decrease) in net assets attributable to unitholders (7,265) 8,419 Distribution to unitholders from: Net realized gains (10,916) (6,468)

Total distributions to unitholders (10,916) (6,468)

Security transactions Proceeds from units issued 4,375 1,200 Reinvestments of distributions to unitholders 10,916 6,468 Redemption of units (125,370) (74,558)

Total security transactions (110,079) (66,890)

Net assets attributable to unitholders - end of year 70,702 198,962

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 1,604 2,143 Units issued 36 9 Units issued for reinvestment of distributions 109 52 Units redeemed (1,041) (600)

Units outstanding end of year 708 1,604

The accompanying notes are an integral part of the financial statements.

246 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL ABSOLUTE RETURN STRATEGIES POOLED MANULIFE ASSET MANAGEMENT GLOBAL ABSOLUTE RETURN STRATEGIES POOLED FUND FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities MUTUAL FUNDS 99.8% Increase (decrease) in net assets attributable to 5,261,960 SLI Global SICAV Global Absolute Return unitholders (7,265) 8,419 Strategies Fund Cl. Z 65,811 70,587 Adjustments for: Total investments 65,811 70,587 Realized gain (loss) on sales of investments (10,917) (6,468) Change in unrealized appreciation (depreciation) in Other assets less liabilities 0.2% 115 the value of investments 18,190 (1,951) Net assets attributable to Purchases of investments (4,375) (1,200) unitholders 100.0% 70,702 Proceeds from disposition of investments 125,435 74,695 Receivable from Manager 35 (35) CONCENTRATION RISK Accrued expenses and other liabilities (13) (40) The following table summarizes the Fund’s concentration risk.

Net cash provided by (used in) operating % of net assets attributable to activities 121,090 73,420 unitholders Cash flows from financing activities Portfolio by category December 31, 2018 December 31, 2017 Proceeds from sale of units 4,412 1,163 Mutual Funds 99.8 100.0 Payments for units redeemed (125,370) (74,558) Other assets less liabilities 0.2 - 100.0 100.0 Net cash provided by (used in) financing activities (120,958) (73,395) Net increase (decrease) in cash 132 25 Cash (bank overdraft) beginning of year - (25) Cash (bank overdraft) end of year 132 - Supplemental information on cash flows from operating activities: Interest paid 2 1

The accompanying notes are an integral part of the financial statements.

247 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL ABSOLUTE RETURN STRATEGIES PRIVATE MANULIFE ASSET MANAGEMENT GLOBAL ABSOLUTE RETURN STRATEGIES PRIVATE POOLED FUND POOLED FUND

Assets Income Current assets Interest for distribution purposes 2 - Investments, at fair value 33,616 158,315 Dividend income 2,682 2,034 Cash 4 1 Realized gain (loss) on sales of investments (2,128) (31) Receivable from Manager - 7 Change in unrealized appreciation (depreciation) in the value of investments (6,321) 4,504 33,620 158,323 (5,765) 6,507 Liabilities Expenses Current liabilities Audit fees 5 5 Accrued expenses and other liabilities 12 39 Transfer agent fees 4 4 12 39 Filing fees - 6 Interest expense & bank charges 4 - Net assets attributable to unitholders 33,608 158,284 Unitholder reporting costs 19 29 Net assets attributable to unitholders per series Custodial fees - 12 Series A 28,185 95,555 32 56 Series B 5,423 62,729 Less operating expenses absorbed by manager - (11) 33,608 158,284 Net operating expenses 32 45 Net assets attributable to unitholders per unit Increase (decrease) in net assets attributable Series A 106.33 116.58 to unitholders (5,797) 6,462 Series B 100.82 114.32 Increase (decrease) in net assets attributable to unitholders per series Series A (3,781) 3,825 Series B (2,016) 2,637 (5,797) 6,462 Increase (decrease) in net assets attributable to unitholders per unit Series A (6.95) 4.66 Series B (6.09) 4.48

The accompanying notes are an integral part of the financial statements.

248 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL ABSOLUTE RETURN STRATEGIES PRIVATE POOLED FUND

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS Series Series For the year ended December 31, 2018 Fund A B ($ in thousands except for per unit amounts) $ $ $

Net assets attributable to unitholders - beginning of year 158,284 95,555 62,729 Increase (decrease) in net assets attributable to unitholders (5,797) (3,781) (2,016) Distributions to unitholders from: Net investment income (2,637) (1,596) (1,041)

Total distributions to unitholders (2,637) (1,596) (1,041)

Security transactions Reinvestments of distributions to unitholders 2,637 1,596 1,041 Redemption of units (118,879) (63,589) (55,290)

Total security transactions (116,242) (61,993) (54,249)

Net assets attributable to unitholders - end of year 33,608 28,185 5,423

Changes due to securities transactions (Note 4) Units outstanding beginning of year 820 549 Units issued for reinvestment of distributions 14 10 Units redeemed (569) (505)

Units outstanding end of year 265 54

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS Series Series For the year ended December 31, 2017 Fund A B ($ in thousands except for per unit amounts) $ $ $

Net assets attributable to unitholders - beginning of year 169,890 97,037 72,853 Increase (decrease) in net assets attributable to unitholders 6,462 3,825 2,637 Distributions to unitholders from: Net investment income (2,003) (1,161) (842)

Total distributions to unitholders (2,003) (1,161) (842)

Security transactions Proceeds from units issued 50 50 - Reinvestments of distributions to unitholders 2,003 1,161 842 Redemption of units (18,118) (5,357) (12,761)

Total security transactions (16,065) (4,146) (11,919)

Net assets attributable to unitholders - end of year 158,284 95,555 62,729

Changes due to security transactions (Note 4) Units outstanding beginning of year 856 655 Units issued for reinvestment of distributions 10 8 Units redeemed (46) (114)

Units outstanding end of year 820 549

The accompanying notes are an integral part of the financial statements.

249 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT GLOBAL ABSOLUTE RETURN STRATEGIES PRIVATE MANULIFE ASSET MANAGEMENT GLOBAL ABSOLUTE RETURN STRATEGIES PRIVATE POOLED FUND POOLED FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities MUTUAL FUNDS 100.0% Increase (decrease) in net assets attributable to 3,081,444 SLI Global SICAV Global Absolute Return unitholders (5,797) 6,462 Strategies Fund Cl. Z 34,925 33,616 Adjustments for: Total investments 34,925 33,616 Realized gain (loss) on sales of investments 2,128 31 Change in unrealized appreciation (depreciation) in Other assets less liabilities 0.0% (8) the value of investments 6,321 (4,504) Net assets attributable to Purchases of investments (2,683) (2,089) unitholders 100.0% 33,608 Proceeds from disposition of investments 118,933 18,218 Receivable from Manager 7 (7) CONCENTRATION RISK Accrued expenses and other liabilities (27) (23) The following table summarizes the Fund’s concentration risk.

Net cash provided by (used in) operating % of net assets attributable to activities 118,882 18,088 unitholders Cash flows from financing activities Portfolio by category December 31, 2018 December 31, 2017 Proceeds from sale of units - 50 Mutual Funds 100.0 100.0 Payments for units redeemed (118,879) (18,118) 100.0 100.0 Net cash provided by (used in) financing activities (118,879) (18,068) Net increase (decrease) in cash 320 Cash (bank overdraft) beginning of year 1 (19) Cash (bank overdraft) end of year 41 Supplemental information on cash flows from operating activities: Interest received, net of foreign withholding taxes 2 - Dividends received, net of foreign withholding taxes 2,682 2,034 Interest paid 4 -

The accompanying notes are an integral part of the financial statements.

250 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT S&P / TSX 60 POOLED FUND II MANULIFE ASSET MANAGEMENT S&P / TSX 60 POOLED FUND II

Assets Income Current assets Interest for distribution purposes 298 248 Investments, at fair value 387,364 478,697 Dividend income 13,441 12,329 Cash 57 19 Foreign exchange gain (loss) on income 2 (4) Margin deposited on derivatives 1,236 1,276 Foreign exchange gain (loss) on currency 3 (1) Interest, dividends and other receivables 1,286 1,227 Income from securities lending 18 5 Realized gain (loss) on sales of investments 9,493 (660) Derivative assets - 516 Realized gain (loss) on derivatives (1,463) 4,993 389,943 481,735 Change in unrealized appreciation (depreciation) in Liabilities the value of investments (50,885) 28,307 Change in unrealized appreciation (depreciation) in Current liabilities Payable on investments purchased - 2,960 the value of derivatives (2,503) (2,527) Accrued expenses and other liabilities 26 35 (31,596) 42,690 Distribution payable to partners 1,823 6,176 Expenses Derivative liabilities 1,940 - Audit fees 10 9 3,789 9,171 Transfer agent fees 3 4 Interest expense & bank charges 1 4 Net assets attributable to partners 386,154 472,564 Partner reporting costs 50 42 Net assets attributable to partners per unit Custodial fees 40 75 8.07 8.97 Transaction costs 43 4 147 138 Increase (decrease) in net assets attributable to partners (31,743) 42,552 Increase (decrease) in net assets attributable to partners per unit (0.61) 0.86

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO PARTNERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to partners - beginning of year 472,564 440,097 Increase (decrease) in net assets attributable to partners (31,743) 42,552 Distribution to partners from: Net investment income (11,842) (42,278)

Total distributions to partners (11,842) (42,278)

Security transactions Proceeds from units issued 88,750 14,215 Reinvestments of distributions to partners 3,415 30,047 Redemption of units (134,990) (12,069)

Total security transactions (42,825) 32,193

Net assets attributable to partners - end of year 386,154 472,564

Changes due to partner transactions (Note 4) Units outstanding beginning of year 52,701 49,124 Units issued 10,646 1,568 Units issued for reinvestment of distributions 395 3,346 Units redeemed (15,871) (1,337)

Units outstanding end of year 47,871 52,701

The accompanying notes are an integral part of the financial statements.

251 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT S&P / TSX 60 POOLED FUND II MANULIFE ASSET MANAGEMENT S&P / TSX 60 POOLED FUND II

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 95.2% Increase (decrease) in net assets attributable to Canada 95.2% partners (31,743) 42,552 Energy 19.2% Adjustments for: 87,384 ARC Resources Ltd. 2,464 708 Change in unrealized foreign exchange gain (loss) 97,726 Cameco Corp. 2,490 1,513 on currency (2) 1 297,400 Canadian Natural Resources Ltd. 12,033 9,796 Realized gain (loss) on sales of investments (9,493) 660 251,402 Cenovus Energy, Inc. 6,304 2,413 Realized gain (loss) on derivatives 1,463 (4,993) 135,624 Crescent Point Energy Corp. 4,552 561 Change in unrealized appreciation (depreciation) in 498,309 Enbridge, Inc. 24,797 21,133 the value of investments 50,885 (28,307) 234,837 Encana Corp. 4,503 1,851 Change in unrealized appreciation (depreciation) in 74,453 Husky Energy, Inc. 2,321 1,051 the value of derivatives 2,503 2,527 58,355 Imperial Oil Ltd. 2,857 2,019 Purchases of investments (1,285,114) (173,699) 98,882 Inter Pipeline Ltd. 2,976 1,912 Proceeds from disposition of investments 1,330,585 168,438 124,784 Pembina Pipeline Corp. 5,206 5,055 Margin on derivatives 40 (573) 398,854 Suncor Energy, Inc. 16,301 15,208 Interest, dividends and other receivables (59) (60) 225,265 TransCanada Corp. 11,683 10,982 Accrued expenses and other liabilities (9) 28 98,487 74,202 Net cash provided by (used in) operating Materials 9.6% activities 59,056 6,574 57,833 Agnico Eagle Mines Ltd. 2,220 3,186 287,839 Barrick Gold Corp. 6,305 5,305 Cash flows from financing activities 35,630 CCL Industries, Inc., Class B 2,330 1,784 Distributions paid to partners, net of reinvested 169,846 First Quantum Minerals Ltd. 3,408 1,875 distributions (12,780) (8,770) 45,970 Franco-Nevada Corp. 3,157 4,401 Proceeds from sale of units 88,750 14,215 214,317 Goldcorp, Inc. 6,002 2,865 Payments for units redeemed (134,990) (12,069) 308,695 Kinross Gold Corp. 1,634 1,358 Net cash provided by (used in) financing 150,948 Nutrien Ltd. 9,900 9,679 activities (59,020) (6,624) 124,431 Teck Resources Ltd. 3,111 3,657 Change in unrealized foreign exchange gain (loss) 109,520 Wheaton Precious Metals Corp. 2,963 2,919 on currency 2 (1) 41,030 37,029 Net increase (decrease) in cash 36 (50) Industrials 10.2% Cash (bank overdraft) beginning of year 19 70 524,045 Bombardier, Inc. 1,800 1,064 Cash (bank overdraft) end of year 57 19 179,572 Canadian National Railway Co. 11,776 18,157 35,096 Canadian Pacific Railway Ltd. 6,211 8,502 Supplemental information on cash flows from operating activities: 43,264 SNC-Lavalin Group, Inc. 2,170 1,987 Interest received, net of foreign withholding taxes 298 248 44,813 Thomson Reuters Corp. 1,671 2,954 Dividends received, net of foreign withholding taxes 13,382 12,269 64,970 Waste Connections, Inc. 5,722 6,583 Interest paid 1 4 29,350 39,247 Consumer Discretionary 4.1% 14,880 Canadian Tire Corp., Ltd., Class A 1,552 2,124 72,585 Dollarama, Inc. 2,126 2,357 50,968 Gildan Activewear, Inc. 1,484 2,112 76,717 Magna International, Inc. 3,875 4,754 62,291 Restaurant Brands International, Inc. 2,912 4,443 11,949 15,790 Consumer Staples 4.3% 107,858 Alimentation Couche-Tard, Inc., Class B 5,439 7,325 18,212 George Weston Ltd. 1,437 1,640 44,419 Loblaw Cos., Ltd. 1,716 2,714 59,394 Metro, Inc. 1,415 2,812 54,658 Saputo, Inc. 1,591 2,142 11,598 16,633 Health Care 0.5% 75,910 Bausch Health Cos., Inc. 10,390 1,917

The accompanying notes are an integral part of the financial statements.

252 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE ASSET MANAGEMENT S&P / TSX 60 POOLED FUND II MANULIFE ASSET MANAGEMENT S&P / TSX 60 POOLED FUND II

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) Financials 34.8% EXCHANGE-TRADED FUNDS 0.1% 157,648 Bank of Montreal 11,915 14,061 16,275 iShares S&P/TSX 60 Index ETF 345 352 215,592 Brookfield Asset Management, Inc., Investments 372,822 387,364 Class A 6,953 11,280 109,216 Canadian Imperial Bank of Commerce 10,424 11,105 Transaction costs (24) 82,811 National Bank of Canada 3,766 4,641 Total investments 372,798 387,364 90,454 Power Corp. of Canada 2,741 2,219 Derivative liabilities (0.5%) (1,940) 355,332 Royal Bank of Canada 26,342 33,202 Other assets less liabilities 0.2% 730 148,750 Sun Life Financial, Inc. 5,789 6,737 302,569 The Bank of Nova Scotia 19,469 20,592 Net assets attributable to partners 452,244 The Toronto-Dominion Bank 23,426 30,689 100.0% 386,154 110,825 134,526 CONCENTRATION RISK Information Technology 3.5% The following table summarizes the Fund’s concentration risk. 119,956 BlackBerry Ltd. 1,331 1,164 61,303 CGI Group, Inc., Class A 2,438 5,119 % of net assets attributable to partners 4,860 Constellation Software, Inc. 2,852 4,247 66,221 Open Text Corp. 2,961 2,947 Portfolio by category December 31, 2018 December 31, 2017 Equities 9,582 13,477 Canada Communication Services 7.1% Energy 19.2 20.6 221,443 BCE, Inc. 10,874 11,942 Materials 9.6 9.6 88,591 Rogers Communications, Inc., Class B 3,960 6,198 Industrials 10.2 8.7 108,810 Shaw Communications, Inc., Class B 2,799 2,689 Consumer Discretionary 4.1 5.3 147,498 TELUS Corp. 5,805 6,674 Consumer Staples 4.3 3.9 Health Care 0.5 0.5 23,438 27,503 Financials 34.8 36.7 Utilities 1.9% Information Technology 3.5 2.9 57,439 Emera, Inc. 2,633 2,511 Communication Services 7.1 6.2 105,221 Fortis, Inc. 3,806 4,788 Utilities 1.9 1.7 Short-Term Investments 5.0 5.1 6,439 7,299 Exchange-Traded Funds 0.1 0.1 353,088 367,623 Derivative assets - 0.1 Derivative liabilities (0.5) - SHORT-TERM INVESTMENTS 5.0% Other assets less liabilities 0.2 (1.4) 19,390 Merit Trust, 100.0 100.0 0.97%, Jan 02, 2019 19,389 19,389

FUTURES CONTRACTS (0.0%) Commitment Unrealized No. of Contract Futures Delivery amount Price as at gain/(loss) contracts price contracts date ($) (’000) December 31, 2018 (CAD $) (’000) 60 CAD 868.21 S&P TSX 60 Index Future Mar 14, 2019 CAD 10,288 CAD 857.30 (131) Derivative liabilities (131)

TOTAL RETURN SWAPS (0.5%) Unrealized Counter- Notional Gain/(Loss) Party Credit Units Reference entity Fixed Rate Maturity ($) (’000) Counterparty Rating 490,000 Manulife Financial Corp. Common Shares* CDOR# +5bps Apr 04, 2019 (1,809) Bank of Montreal A Derivative liabilities (1,809) # CDOR - Canadian Deposit Offered Rate * Manulife Investments, the Manager, is ultimately controlled by Manulife Financial Corporation. Investments in Manulife Financial Corporation an its affiliates and other funds managed by the manager are identified above.

The accompanying notes are an integral part of the financial statements.

253 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE REAL ASSET FUND MANULIFE REAL ASSET FUND

Assets Income Current assets Interest for distribution purposes 94 45 Investments, at fair value 40,962 33,615 Dividend income 275 86 Cash - 228 Distribution income from underlying funds 826 735 Subscriptions receivable - 20 Foreign exchange gain (loss) on currency (6) 4 Receivable from investments sold 169 - Other income (loss) 76 1 Realized gain (loss) on sales of investments 48 (38) Receivable from Manager 4 16 Realized gain (loss) on derivatives (355) (144) Interest, dividends and other receivables 71 29 Change in unrealized appreciation (depreciation) in Derivative assets 11 153 the value of investments 1,078 263 41,217 34,061 Change in unrealized appreciation (depreciation) in Liabilities the value of derivatives (528) 197 Current liabilities 1,508 1,149 Bank overdraft 109 - Expenses Payable on investments purchased - 195 Audit fees 4 3 Accrued expenses and other liabilities 70 8 Transfer agent fees 8 6 Distribution payable to partners 196 39 Filing fees 2 3 Derivative liabilities 396 10 Partner reporting costs 29 14 771 252 Custodial fees 90 18 Foreign withholding taxes 7 5 Net assets attributable to partners 40,446 33,809 Transaction costs 6 5 Net assets attributable to partners per series Land Transfer Tax 147 - Series G 769 - 293 54 Series I 7,644 7,362 Less operating expenses absorbed by manager (79) (15) Series M 32,033 26,447 Net operating expenses 214 39 40,446 33,809 Increase (decrease) in net assets attributable Net assets attributable to partners per unit to partners 1,294 1,110 Series G 9.96 - Increase (decrease) in net assets attributable to partners per series Series I 10.18 10.13 Series G (2) - Series M 10.08 10.02 Series I 252 513 Series M 1,044 597 1,294 1,110 Increase (decrease) in net assets attributable to partners per unit Series G (0.40) - Series I 0.34 0.47 Series M 0.34 0.31

The accompanying notes are an integral part of the financial statements.

254 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE REAL ASSET FUND

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO PARTNERS Series Series Series For the year ended December 31, 2018 Fund G I M ($ in thousands except for per unit amounts) $ $ $ $

Net assets attributable to partners - beginning of year 33,809 - 7,362 26,447 Increase (decrease) in net assets attributable to partners 1,294 (2) 252 1,044 Distributions to partners from: Net investment income (1,091) - (214) (877)

Total distributions to partners (1,091) - (214) (877)

Security transactions Proceeds from units issued 22,571 771 7,400 14,400 Reinvestments of distributions to partners 544 - 214 330 Redemption of units (16,681) - (7,370) (9,311)

Total security transactions 6,434 771 244 5,419

Net assets attributable to partners - end of year 40,446 769 7,644 32,033

Changes due to securities transactions (Note 4) Units outstanding beginning of year - 726 2,640 Units issued 77 731 1,421 Units issued for reinvestment of distributions - 21 33 Units redeemed - (727) (916)

Units outstanding end of year 77 751 3,178

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO PARTNERS Series Series For the year ended December 31, 2017 Fund I M ($ in thousands except for per unit amounts) $ $ $

Net assets attributable to partners - beginning of year 27,345 15,849 11,496 Increase (decrease) in net assets attributable to partners 1,110 513 597 Distributions to partners from: Net investment income (619) (182) (437)

Total distributions to partners (619) (182) (437)

Security transactions Proceeds from units issued 14,500 - 14,500 Reinvestments of distributions to partners 473 182 291 Redemption of units (9,000) (9,000) -

Total security transactions 5,973 (8,818) 14,791

Net assets attributable to partners - end of year 33,809 7,362 26,447

Changes due to security transactions (Note 4) Units outstanding beginning of year 1,588 1,165 Units issued - 1,446 Units issued for reinvestment of distributions 18 29 Units redeemed (880) -

Units outstanding end of year 726 2,640

The accompanying notes are an integral part of the financial statements.

255 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE REAL ASSET FUND MANULIFE REAL ASSET FUND

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities MUTUAL FUNDS 65.1% Increase (decrease) in net assets attributable to 13,203 Manulife Asset Management Canadian partners 1,294 1,110 Bond Index Pooled Fund 145 141 Adjustments for: 752,147 Manulife Canadian Commercial Mortgage Distributions from underlying funds (826) (735) Fund, Series X 7,521 7,486 Change in unrealized foreign exchange gain (loss) 747,859 Manulife Canadian Private Debt Fund, on currency 2 - Series X 7,583 7,874 Realized gain (loss) on sales of investments (48) 38 644,468 Manulife Canadian Property Portfolio, Realized gain (loss) on derivatives 355 144 Series X 9,630 10,840 Change in unrealized appreciation (depreciation) in 24,879 26,341 the value of investments (1,078) (263) Change in unrealized appreciation (depreciation) in EXCHANGE-TRADED FUNDS 16.3% the value of derivatives 528 (197) 9,311 BMO Equal Weight REITs Index ETF 204 193 Purchases of investments (16,567) (18,042) 6,831 BMO Floating Rate High Yield ETF 107 101 Proceeds from disposition of investments 10,453 12,685 1,798 Energy Select Sector SPDR Fund 172 141 Receivable from Manager 12 (14) 620 Invesco DB Agriculture Fund 17 14 Interest, dividends and other receivables (42) (20) 4,015 Invesco DB Commodity Index Tracking Accrued expenses and other liabilities 62 5 Fund 83 79 6,289 Invesco DB Energy Fund 131 107 Net cash provided by (used in) operating 12,471 iShares 1-5 year Laddered Government activities (5,855) (5,289) Bond Index ETF 223 222 Cash flows from financing activities 2,994 iShares Global Infrastructure ETF 171 161 Distributions paid to partners, net of reinvested 4,613 iShares S&P/TSX Capped Energy Index ETF 58 41 distributions (390) (107) 12,220 iShares S&P/TSX Capped REIT Index ETF 211 205 Proceeds from sale of units 22,591 14,480 1,657 iShares U.S. Oil & Gas Exploration & Payments for units redeemed (16,681) (9,000) Production ETF 150 117 3,858,846 JP Morgan IIF Canadian 2 LP 4,032 4,253 Net cash provided by (used in) financing 1,797 SPDR Gold Shares 280 297 activities 5,520 5,373 1,361 SPDR S&P Global Natural Resources ETF 75 77 Change in unrealized foreign exchange gain (loss) 12,678 Vanguard Canadian Short-Term Corporate on currency (2) - Bond Index ETF 308 303 Net increase (decrease) in cash (335) 84 419 Vanguard Global ex-U.S. Real Estate ETF 32 30 Cash (bank overdraft) beginning of year 228 144 2,538 Vanguard REIT ETF 269 258 Cash (bank overdraft) end of year (109) 228 6,523 6,599 Supplemental information on cash flows from operating activities: EQUITIES 11.5% Interest received, net of foreign withholding taxes 94 25 Canada 11.5% Dividends received, net of foreign withholding taxes 293 81 Real Estate 11.5% 438,790 MCRA Holdings, Inc. 4,487 4,634 4,487 4,634 BONDS 7.5% United States 7.5% Federal Bonds 7.5% USD 877 United States Treasury Inflation Indexed Bonds, 0.13%, Apr 15, 2019 1,191 1,182 USD 1,259 United States Treasury Inflation Indexed Bonds, 0.13%, Apr 15, 2021 1,685 1,673 USD 146 United States Treasury Inflation Indexed Bonds, 0.13%, Apr 15, 2022 182 192 3,058 3,047

The accompanying notes are an integral part of the financial statements.

256 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

MANULIFE REAL ASSET FUND MANULIFE REAL ASSET FUND

PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) SHORT-TERM INVESTMENTS 0.8% USD 250 Henkel of America, Inc., 1.07%, Jan 11, 2019 335 341 Investments 39,282 40,962 Transaction costs (1) Total investments 39,281 40,962 Derivative assets 0.1% 11 Derivative liabilities (1.0%) (396) Other assets less liabilities (0.3%) (131) Net assets attributable to partners 100.0% 40,446

CONCENTRATION RISK The following table summarizes the Fund’s concentration risk.

% of net assets attributable to partners Portfolio by category December 31, 2018 December 31, 2017

Mutual Funds 65.1 74.5 Exchange-Traded Funds 16.3 15.7 Equities Canada Real Estate 11.5 - Bonds United States Federal Bonds 7.5 7.9 Short-Term Investments 0.8 1.3 Derivative assets 0.1 0.4 Derivative liabilities (1.0) - Other assets less liabilities (0.3) 0.2 100.0 100.0

The accompanying notes are an integral part of the financial statements.

257 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

FONDS MANUVIE - HEC FONDS MANUVIE - HEC

Assets Income Current assets Interest for distribution purposes 28 26 Investments, at fair value 2,577 2,634 Dividend income 59 46 Cash 54 120 Realized gain (loss) on sales of investments 87 15 Receivable from Manager - 8 Change in unrealized appreciation (depreciation) in Interest, dividends and other receivables 9 8 the value of investments (298) 76 2,640 2,770 (124) 163 Liabilities Expenses Audit fees 5 3 Current liabilities Transfer agent fees 4 3 Accrued expenses and other liabilities 7 5 Unitholder reporting costs 2 2 75Custodial fees 1 3 Transaction costs 1 - Net assets attributable to unitholders 2,633 2,765 13 11 Net assets attributable to unitholders per unit Less operating expenses absorbed by manager (5) (8) 9.53 10.01 Net operating expenses 8 3 Increase (decrease) in net assets attributable to unitholders (132) 160 Increase (decrease) in net assets attributable to unitholders per unit (0.49) 0.62

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS

For the years ended December 31 2018 2017 ($ in thousands except for per unit amounts)

Net assets attributable to unitholders - beginning of year 2,765 2,605 Increase (decrease) in net assets attributable to unitholders (132) 160 Distribution to unitholders from: Net investment income - (153)

Total distributions to unitholders - (153)

Security transactions Reinvestments of distributions to unitholders - 153

Total security transactions - 153

Net assets attributable to unitholders - end of year 2,633 2,765

Changes due to unitholder transactions (Note 4) Units outstanding beginning of year 276 261 Units issued - - Units issued for reinvestment of distributions - 15 Units redeemed - -

Units outstanding end of year 276 276

The accompanying notes are an integral part of the financial statements.

258 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

FONDS MANUVIE - HEC FONDS MANUVIE - HEC

STATEMENTS OF CASH FLOWS SCHEDULE OF INVESTMENT PORTFOLIO As at December 31, 2018

For the years ended December 31 2018 2017 PAR VALUE ($) (’000)/ ($ in thousands except for per unit amounts) NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000)

Cash flows from operating activities EQUITIES 61.3% Increase (decrease) in net assets attributable to Canada 61.3% unitholders (132) 160 Energy 10.0% Adjustments for: 2,157 Canadian Natural Resources Ltd. 93 71 Realized gain (loss) on sales of investments (87) (15) 1,150 Enbridge, Inc. 64 49 Change in unrealized appreciation (depreciation) in 1,095 Keyera Corp. 38 28 the value of investments 298 (76) 615 Parkland Fuel Corp. 25 22 Purchases of investments (1,254) (1,090) 1,093 PrairieSky Royalty Ltd. 26 19 Proceeds from disposition of investments 1,100 1,068 1,629 Suncor Energy, Inc. 59 62 Receivable from Manager 8 (2) 2,796 Whitecap Resources, Inc. 28 12 Interest, dividends and other receivables (1) (2) 333 263 Accrued expenses and other liabilities 2 2 Materials 5.9% Net cash provided by (used in) operating 471 Agnico Eagle Mines Ltd. 20 26 activities (66) 45 864 CCL Industries, Inc., Class B 51 43 Net increase (decrease) in cash (66) 45 175 Franco-Nevada Corp. 14 17 Cash (bank overdraft) beginning of year 120 75 1,192 Goldcorp, Inc. 16 16 390 Nutrien Ltd. 25 25 Cash (bank overdraft) end of year 54 120 964 Teck Resources Ltd. 28 28 Supplemental information on cash flows from operating activities: 154 155 Interest received, net of foreign withholding taxes 29 24 Dividends received, net of foreign withholding taxes 56 46 Industrials 7.0% 774 CAE, Inc. 20 19 454 Canadian National Railway Co. 38 46 267 Canadian Pacific Railway Ltd. 63 65 1,169 Finning International, Inc. 39 28 517 Morneau Shepell, Inc. 14 13 258 Toromont Industries Ltd. 9 14 183 185 Consumer Discretionary 3.0% 793 Dollarama, Inc. 24 26 436 Magna International, Inc. 24 27 373 Restaurant Brands International, Inc. 28 26 76 79 Consumer Staples 3.0% 87 George Weston Ltd. 9 8 887 Loblaw Cos., Ltd. 50 54 466 Saputo, Inc. 18 18 77 80 Financials 20.1% 962 Brookfield Asset Management, Inc., Class A 54 50 697 Canadian Imperial Bank of Commerce 86 71 512 Intact Financial Corp. 47 51 883 Royal Bank of Canada 68 82 1,497 Sun Life Financial, Inc. 65 68 1,039 The Bank of Nova Scotia 68 71 1,697 The Toronto-Dominion Bank 95 115 308 TMX Group Ltd. 26 22 509 530 Information Technology 5.2% 758 CGI Group, Inc., Class A 55 63

The accompanying notes are an integral part of the financial statements.

259 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

FONDS MANUVIE - HEC FONDS MANUVIE - HEC

PAR VALUE ($) (’000)/ PAR VALUE ($) (’000)/ NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF SHARES / AVERAGE COST FAIR VALUE NO. OF UNITS NAME ($) (’000) ($) (’000) NO. OF UNITS NAME ($) (’000) ($) (’000) 29 Constellation Software, Inc. 27 26 45 Canadian Government Bond, 1,083 Open Text Corp. 46 48 2.75%, Jun 01, 2022 47 46 128 137 50 Canadian Government Bond, 3.50%, Dec 01, 2045 69 63 Communication Services 5.5% 1,624 BCE, Inc. 94 88 206 197 304 Cogeco Communications, Inc. 19 20 SHORT-TERM INVESTMENTS 5.7% 1,296 Quebecor, Inc., Class B 23 37 150 Canadian Treasury Bill, 136 145 1.30%, Jan 04, 2019 150 150 Utilities 1.0% Total investments 2,648 2,577 1,460 Boralex, Inc. 36 25 Other assets less liabilities 2.1% 56 Real Estate 0.6% Net assets attributable to 685 Altus Group Ltd. 21 16 unitholders 100.0% 2,633 1,653 1,615 CONCENTRATION RISK BONDS 30.9% The following table summarizes the Fund’s concentration risk. Canada 30.9% Corporate Bonds 14.2% % of net assets attributable to 40 Alimentation Couche-Tard, Inc., unitholders 3.90%, Nov 01, 2022 43 41 Portfolio by category December 31, 2018 December 31, 2017 60 Bank of Montreal, Equities 2.12%, Mar 16, 2022 61 59 Canada 20 Bell Canada, Inc., Energy 10.0 11.2 4.35%, Dec 18, 2045 20 19 Materials 5.9 8.6 30 Canadian National Railway Co., Industrials 7.0 6.6 2.80%, Sep 22, 2025 31 30 Consumer Discretionary 3.0 6.5 Consumer Staples 3.0 - 45 Hydro-Québec, Financials 20.1 26.6 5.00%, Feb 15, 2050 63 61 Information Technology 5.2 2.2 30 Power Financial Corp., Communication Services 5.5 2.1 6.90%, Mar 11, 2033 40 39 Utilities 1.0 1.5 55 PSP Capital, Inc., Real Estate 0.6 - 3.03%, Oct 22, 2020 59 56 Bonds 30 Sun Life Capital Trust, Canada 7.09%, Jun 30, 2052 37 39 Corporate Bonds 14.2 13.8 30 TransCanada PipeLines Ltd., Provincial Bonds 9.2 8.9 3.30%, Jul 17, 2025 32 30 Federal Bonds 7.5 7.2 Short-Term Investments 5.7 - 386 374 Other assets less liabilities 2.1 4.8 Provincial Bonds 9.2% 100.0 100.0 60 Province of British Columbia, 3.25%, Dec 18, 2021 65 62 35 Province of British Columbia, 2.85%, Jun 18, 2025 37 36 40 Province of Ontario, 4.20%, Jun 02, 2020 44 41 40 Province of Quebec, 4.50%, Dec 01, 2020 44 42 60 Province of Quebec, 2.75%, Sep 01, 2025 63 60 253 241 Federal Bonds 7.5% 85 Canadian Government Bond, 3.25%, Jun 01, 2021 90 88

The accompanying notes are an integral part of the financial statements.

260 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

1. THE FUNDS

The Manulife Asset Management Pooled Funds (the “Fund” or collectively the “Funds”), except for Manulife Asset Management S&P/TSX 60 Pooled Fund II and the Manulife Real Asset Fund, are open-ended pooled investment trusts and governed by the laws of Ontario and formed by Declaration of Trust on the dates as noted below. Manulife Asset Management S&P/TSX 60 Pooled Fund II and the Manulife Real Asset Fund are each an open-ended limited partnership and were formed under the laws of Ontario by Limited Partnership Agreement on the date as noted below. Manulife Asset Management (“MAML”) is the trustee and manager of the Funds, except for Manulife Asset Management S&P/TSX 60 Pooled Fund II and the Manulife Real Asset Fund, where MAML is the general partner and manager of the Funds. Manulife Financial Corporation (“MFC”) is the ultimate parent company of MAML. The investment objective of each Fund is to combine and manage money contributed by unitholders or limited partners, as applicable, (altogether the Unitholders) with similar investment goals. The Funds may invest in equities, fixed income securities, derivatives, underlying funds or some combination thereof according to their investment objectives and strategies. Investments may be held for income or capital appreciation or both. Unitholders share the Fund’s income, expenses, and any gains or lossesaFundmakesonits investments generally in proportion to the value of the securities they own. The Funds may earn interest or other amounts (including income from securities lending activities), dividends, capital gains or a combination of these on their investments. The address of the Funds’ registered office is 200 Bloor Street East, Toronto, Ontario. The financial statements of each of the Funds were authorized for issue by the Board of Directors of the Manager on behalf of the Funds on March 20, 2019. The inception date of each of the Funds are as follows:

Date of Date of Fund inception Fund inception

Manulife Asset Management Money Market Pooled Fund December 31, 1997 Manulife Asset Management Strategic Income (ex Tobacco and November 12, 2017 Manulife Asset Management US Money Market Pooled Fund October 23, 2015 Marijuana) Pooled Fund (formerly known as Manulife Private Wealth US Money Manulife Asset Management Emerging Markets Corporate Debt December 15, 2014 Market Pooled Fund)* Pooled Fund Manulife Asset Management Canadian Bond Index Pooled Fund March 31, 1999 Manulife Asset Management Emerging Markets Local Currency November 30, 2015 Manulife Asset Management Canadian Core Fixed Income October 31, 2007 Debt Pooled Fund Pooled Fund Manulife Asset Management Global Diversified Balanced Pooled June 4, 2008 Manulife Asset Management Canadian Long Duration Fixed October 30, 2007 Fund Income Pooled Fund Manulife Asset Management Canadian Large Cap Growth August 22, 2006 Manulife Asset Management Canadian Core Plus Fixed Income June 1, 2005 Pooled Fund Pooled Fund Manulife Asset Management Canadian Equity Index Pooled December 31, 1997 Manulife Asset Management Canadian Corporate Fixed Income April 25, 2018 Fund Pooled Fund Manulife Asset Management Canadian Core Equity Pooled Fund December 19, 2011 Manulife Asset Management Canadian Short Duration Fixed March 7, 2013 Manulife Asset Management Canadian Core Equity Focused October 15, 2018 Income Pooled Fund Pooled Fund Manulife Asset Management Short-Term Bond Pooled Fund June 27, 2012 Manulife Asset Management Capped Canadian Equity Pooled May 30, 2007 Manulife Asset Management Short-Term Liability Government January 15, 2013 Fund Bond Pooled Fund Manulife Asset Management Canadian Value Equity Pooled May 30, 2007 Manulife Asset Management Short-Term Liability Corporate June 15, 2015 Fund Bond Pooled Fund Manulife Asset Management Canadian All Cap Focused Equity March 2, 2017 Manulife Asset Management Mid-Term Liability Government January 15, 2013 Pooled Fund Bond Pooled Fund Manulife Asset Management US Large Cap Core Pooled Fund December 31, 1997 Manulife Asset Management Mid-Term Liability Corporate Bond June 15, 2015 Manulife Asset Management US Equity Index Pooled Fund December 31, 1997 Pooled Fund Manulife Asset Management US Equity Index Pooled Fund July 10, 2009 Manulife Asset Management Long-Term Liability Government January 15, 2013 (Non-Taxable) Bond Pooled Fund Manulife Asset Management US Small Cap Value Pooled Fund March 7, 2013 Manulife Asset Management Leveraged Liability Government March 1, 2018 Manulife Asset Management Emerging Markets Equity Pooled April 25, 2011 Bond Pooled Fund Fund Manulife Asset Management Ultra Long Duration Fixed Income March 20, 2012 Manulife Asset Management Global Focus Pooled Fund March 7, 2013 Pooled Fund Manulife Asset Management Global Equity II Pooled Fund March 7, 2013 Manulife Asset Management Strategic Income Pooled Fund February 14, 2011 Manulife Asset Management Global Equity Index Pooled Fund March 7, 2013

261 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Date of Date of Fund inception Fund inception

Manulife Asset Management Global Natural Resources Pooled August 11, 2014 Manulife Asset Management Target De-Risking 105 Average April 3, 2012 Fund Pooled Fund Manulife Asset Management Global Energy Pooled Fund August 11, 2014 Manulife Asset Management Target De-Risking 105 Mature April 3, 2012 Manulife Asset Management Global Precious Metals Pooled August 11, 2014 Pooled Fund Fund Manulife Asset Management Global Opportunistic Allocation November 7, 2012 Manulife Asset Management Global Small Cap Equity Pooled September 17, 2014 Pooled Fund Fund Manulife Asset Management Global Absolute Return Strategies May 30, 2007 Manulife Asset Management International Equity Index Pooled February 14, 2011 Pooled Fund Fund Manulife Asset Management Global Absolute Return Strategies May 25, 2011 Manulife Asset Management Target De-Risking 80 Pooled Fund April 3, 2012 Private Pooled Fund Manulife Asset Management Target De-Risking 90 Pooled Fund April 3, 2012 Manulife Asset Management S&P / TSX 60 Pooled Fund II February 27, 2014 Manulife Asset Management Target De-Risking 100 Pooled April 3, 2012 Manulife Real Asset Fund (formerly known as Manulife Asset November 16, 2015 Fund Management Canadian Real Asset Solution) Manulife Asset Management Target De-Risking 105 Young April 3, 2012 Fonds Manuvie - HEC April 22, 2016 Pooled Fund

*The functional and presentation currency for this Fund is U.S. dollars (USD). The functional and presentation currency of all other Funds is Canadian dollars (CAD).

The Statements of Financial Position of the Funds are as at December 31, 2018 and 2017, as applicable. The Statements of Comprehensive Income, Statements of Changes in Net Assets Attributable to Unitholders (except for Manulife Asset Management S&P/TSX 60 Pooled Fund II and the Manulife Real Asset Fund which presents Changes in Net Assets Attributable to Partners) and Statements of Cash Flows are for the years ended December 31, 2018 and 2017, except for Funds established during either year, in which case the information provided relates to the periods from the inception date to December 31, 2018 or 2017, as applicable. The Schedule of Investment Portfolio is as at December 31, 2018.

Series Structure

The following is a list of the series offered to different types of investors for the Manulife Asset Management Global Absolute Return Strategies Private Pooled Fund and the Manulife Real Asset Fund, provided they meet the requirements applicable for each Series:

Manulife Asset Management Global Absolute Return Strategies Private Pooled Fund • Series A units are available to qualified institutional investors. • Series B units are available to high net worth accredited investors.

Manulife Real Asset Fund • Series I units are available to qualified institutional investors. • Series M units are available to Manulife Private Wealth investors. • Series G units are available to Manulife-sponsored segregated funds. The other Funds are available to institutional accredited investors only and some of the Funds are only available to tax-exempt entities. Abbreviations legend The following is a list of abbreviations used in these financial statements: Currency Abbreviations Other Abbreviations AUD - Australian Dollar INR - Indian Rupee SEK - Swedish Krona ADR - American Depository Receipt TRS - Total Return Swap BRL - Brazilian Real JPY - Japanese Yen SGD - Singapore Dollar ETF - Exchange-Traded Fund CAD - Canadian Dollar KRW - South Korean Won THB - Thailand Baht FRN - Floating Rate Note CHF - Swiss Franc MXN - Mexican Peso TRY - Turkish Lira FVTPL - Fair Value Through Profit or Loss COP - Colombian Peso MYR - Malaysian Ringgit TWD - New Taiwan Dollar GDR - Global Depository Receipt DKK - Danish Krone NOK - Norwegian Krone USD - United States Dollar IAS - International Accounting Standard(s) EUR - Euro NZD - New Zealand Dollar UYU - Peso Uruguayo IASB - International Accounting Standards Board GBP - British Pound PEN - Peruvian Sol ZAR - South African Rand IFRS - International Financial Reporting Standard(s) HKD - Hong Kong Dollar PHP - Philippine Peso MFC - Manulife Financial Corporation HUF - Forint PLN - Polish Zloty NAV - Net Asset Value IDR - Indonesian Rupiah RON - Romanian Leu NAVPU - Net Asset Value Per Unit ILS - Israeli Shekel RUB - Russian Ruble REIT - Real Estate Investment Trust

262 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

2. SIGNIFICANT ACCOUNTING POLICIES

These financial statements have been prepared in accordance with IFRS as issued by the IASB. The significant accounting policies set out below have been consistently applied within these financial statements.

a) IFRS 9, Financial Instruments adoption

The IASB issued the final version of IFRS 9, Financial Instruments that replaces IAS 39, Financial Instruments: Recognition and Measurement. IFRS 9 brings together all three aspects of the accounting for financial instruments: classification and measurement, impairment and hedge accounting. The new standard requires financial assets to be either carried at amortized cost, at FVTPL or at fair value recognized in other comprehensive income based on the Funds’ business model for managing financial assets and the contractual cash flow characteristics of the financial statements. Effective January 1, 2018, the Funds retrospectively adopted IFRS 9 without restatement. Upon transition from IAS 39 to IFRS 9, the Funds’ financial assets and liabilities previously designated as FVTPL or classified as held for trading underIAS39arenow classified as FVTPL. Financial assets that were previously classified as loans and receivable under IAS 39 are now classified as amortized cost. The classification and measurement of other liabilities under the new standard remains generally unchanged. As a result of the transition to IFRS 9, there were no changes in the measurement for any of the financial assets and financial liabilities in the current or comparative period. Assessment and the application of the business model approach are areas of accounting judgment.

b) Critical accounting estimates and judgments

The preparation of the Funds’ financial statements requires the Manager to make judgments, estimates and assumptions that affect the reported amounts recognized in the financial statements and disclosure of contingent liabilities. However, uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in future periods. The following is a discussion of the most significant accounting judgments and estimates made in preparing the financial statements:

Estimates

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are discussed below. The Manager based the assumptions and estimates on parameters available when the financial statements were prepared. However, existing circumstances and assumptions about future developments may change due to market changes or circumstances arising beyond the control of the Manager. Such changes are reflected in the assumptions when they occur.

The Manager believes that the estimates used in preparing the financial statements are reasonable and prudent. Actual results could differ from these estimates and thedifferencecouldbematerial.

Fair value measurement of derivatives and securities not quoted in an active market

When the fair values of financial assets and financial liabilities recorded in the Statements of Financial Position cannot be derived from active markets, their fair value is determined using a variety of valuation techniques that include the use of reputable pricing sources, indicative prices from market makers or valuation models. The inputs to valuation models are taken from observable markets where possible, but where this is not feasible, estimation is required in establishing fair values. The estimates include consideration of liquidity and model inputs related to items such as credit risk (both own and counterparty’s), correlation and volatility. Changes in assumptions about these factors could affect the reported fair value of financial instruments in the Statements of Financial Position and the level at which the instruments are disclosed in the fair value hierarchy.

Determination of functional currency

Certain Funds earn investment returns in CAD and foreign currencies based on the investments held. Expenses are incurred in CAD. Because the Funds do not earn returns solely in CAD, the primary indicators of functional currency are viewed to be mixed and secondary indicators have been considered. The subscriptions and redemptions of the units are denominated in CAD and the performance is measured and reported to the unitholders in CAD. The Manager considers the CAD as the currency that most faithfully represents the economic effects of the underlying transactions, events and conditions. The financial statements are therefore presented in CAD which is the functional and presentation currency. For Funds presented in USD currency as expressed in Note 1, the investment returns as well as the subscriptions and redemptions are predominantly in USD. The Manager considers USD as the most representative currency for these funds and therefore, their financial statements are presented in USD.

c) Financial Instruments

Recognition and derecognition

All financial instruments are recognized at fair value upon initial recognition when a Fund becomes a party to the contractual requirements of the financial instruments. A financial asset is derecognized when the right to receive cash flows from the asset has expired or the Funds have substantially transferred all risks and rewards of ownership. A financial liability is derecognized when the obligation under the liability is discharged, cancelled or expired.

Classification

In classifying and measuring financial instruments held by the Funds, the Manager is required to assess the Funds’ business model, the manner in which all financial assets and financial liabilities are managed and performance evaluated as a group on a fair value basis and the contractual cash flow characteristics of these financial instruments. The Funds’ portfolio of financial assets is managed and evaluated on a fair value basis. Consequently, the Funds classify and measure all investments and derivatives at FVTPL.

263 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

All other assets and liabilities are subsequently measured at amortized cost in accordance with IFRS 9. The Funds’ obligations for net assets attributable to unitholders are classified as financial liabilities in accordance with the requirements of IAS 32, Financial Instruments: Presentation and are presented at the redemption amount.

Measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Term deposits, commercial paper, banker’s acceptances, bills, bonds, debentures, asset-backed securities, term-loans and other debt-like obligations are valued at the most recent mean of the evaluated bid and ask price or yield equivalent as obtained from one or more recognized independent pricing vendors. All exchange-traded equities, options and derivatives are valued at the last quoted trade price at the close of trading on the reporting date where the last traded price falls within that day’s bid-ask spread. In circumstances where the last traded price is not within the bid-ask spread, the Manager determines the point within the bid-ask spread that is the most representative of fair value based on the specific facts and circumstances. The Funds’ policy is to recognize transfers into and out of the fair value hierarchy levels as of the date of the event or change in circumstances giving rise to the transfer. The Manager may make use of a fair value pricing policy which applies a fair value factor adjustment to quoted or published prices of non-North American equities for significant events occurring between the earlier close of non-North American markets and the time at which NAV is determined. Hence, the final fair value of equities used may differ from the actual closing traded market price of the securities on their primary exchange. Investments in underlying funds are valued at their NAV calculated by the manager of the underlying fund in accordance with the constating documents of the underlying fund. If the NAV is unavailable, underlying funds are valued using the last published NAV or at the fair value as determined by the Manager using observable market inputs, whichever is deemed to be the best representation of fair value of the underlying funds.

The fair value of financial assets and liabilities that are not traded in an active market, including over-the-counter derivatives, is determined using recognized valuation techniques. The Manager uses a variety of methods and makes assumptions that are based on market conditions existing at each reporting date. Valuation techniques include the use of comparable recent arm’s length transactions, comparable similar other instruments, discounted cash flow analysis, options pricing models and others commonly used by market participants making maximum use of observable inputs. Over-the-counter derivatives (such as forward foreign currency contracts) are valued based on the difference between the contract forward rate and the rate prevailing on the reporting date.

d) Offsetting

Financial assets and liabilities are not offset unless there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the asset and settle the liability simultaneously. The Funds may enter into various master netting agreements or similar agreements that do not meet the criteria for offsetting in the Statements of Financial Position but still allow for the related amounts to be set off in certain circumstances, such as bankruptcy or termination of the contracts.

e) Investments in subsidiaries, associates and interests in unconsolidated structured entities

A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements.

Subsidiaries are all entities, including investments in other investment entities, over which the Funds have control. The Funds control an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The Manager has determined that Funds are each an investment entity as defined by IFRS 10, Consolidated Financial Statements and as such, the Funds account for subsidiaries at fair value. Disclosures with respect to the Funds’ interest in structured entities are included in Note 9, as applicable.

f) Impairment of financial assets at amortized cost

At each reporting date, the Manager assesses whether there is objective evidence that a financial asset at amortized cost is impaired. If such evidence exists, the Funds recognize an impairment loss as the difference between the amortized cost of the financial asset and the present value of the estimated future cash flows, discounted using the instrument’s original effective interest rate. Impairment loss on financial assets at amortized cost are reversed in subsequent periods if the amount of the loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized.

g) Cash

Cash represents cash at the bank and is carried at amortized cost, which approximates its fair value. Cash is held with the Funds’ custodian, a Canadian financial institution.

h) Investment transactions

Investment transactions are recorded on a trade date basis. Realized gain or loss on sales of investments and change in unrealized appreciation (depreciation) in the value of investments are determined on an average cost basis.

i) Transaction costs

Transaction costs are incremental costs that are directly attributable to the acquisition or disposal of an investment, which include fees and commissions paid to brokers and dealers, levies by regulatory agencies and securities exchanges, and transfer taxes and duties. Transaction costs incurred in the purchase and sale of securities are recognized immediately as expenses for financial reporting purposes, and are included in the Statements of Comprehensive Income.

j) Income recognition

Income from investments is recognized on an accrual basis.

264 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Interest for distribution purposes shown in the Statements of Comprehensive Income represents the coupon interest received by the Funds accounted for on an accrual basis. The Funds do not amortize premiums paid or discounts received on the purchase of fixed income securities except for zero coupon bonds which are amortized on a straight-line basis. Dividend income or distributions are recognized on the ex-dividend or distribution record date, respectively. Distributions from the underlying funds can include dividends, interest for distribution purposes and capital gains, the proceeds of which are used to purchase additional units in the underlying funds. Distributions are recognized at the date of the distribution by the underlying funds and shown separately as distribution income from underlying funds in the Statements of Comprehensive Income.

k) Foreign exchange translations

The Funds’ functional and presentation currency is CAD, except for Funds presented in USD currency as expressed in Note 1 for which the functional and presentation currency is U.S. Dollars (USD). Foreign currency transactions and balances are translated into the functional currency on the following basis: i) Fair value of investments and other assets and liabilities are translated to functional currency at the rate of exchange in effect on the applicable valuation date, as quoted by a recognized source. ii) Purchases and sales of investments, income and expenses are translated to functional currency at the rate of exchange prevailing on the respective dates of such transactions. iii) Realized and unrealized foreign currency gains (losses) on investments are included in realized gain (loss) on sales of investments and change in unrealized appreciation (depreciation) in the value of investments, respectively in the Statements of Comprehensive Income. iv) Realized foreign currency gains (losses) on income are included in foreign exchange gain (loss) on income in the Statements of Comprehensive Income. v) Realized and unrealized foreign currency gains or losses on cash held in a foreign currency are included in foreign exchange gain (loss) on currency in the Statements of Comprehensive Income.

l) Futures contracts

Certain Funds may enter into standard exchange-traded futures contracts to gain broad exposure to stock markets and to hedge foreign currency fluctuations, with the benefits of low transaction costs and high liquidity, provided their use is consistent with the Funds’ investment objectives and strategies as permitted by applicable securities legislation. Upon entering into a futures contract, a Fund is required to deposit, either in cash or securities, an amount equal to a certain percentage of the purchase price indicated in the futures contract. The fair value of a futures contract fluctuates daily, and cash settlements are made daily by the Fund equal to the unrealized appreciation or depreciation on a “mark to market” basis.

The unrealized appreciation (depreciation) is recorded and is accounted for as change in net unrealized appreciation (depreciation) in the value of derivatives in the Statements of Comprehensive Income. Upon the expiration or closing of the futures contract, realized gains or losses are recognized, and are recorded as realized gain (loss) on derivatives in the Statements of Comprehensive Income. Margin paid or deposited in respect of futures contracts is reflected in the Statements of Financial Position, as margin payable for derivatives and margin deposited on derivatives. Any change in the variation margin requirement is settled daily.

m) Forward foreign currency contracts

Certain Funds may enter into forward foreign currency contracts in a manner consistent with the investment objective and strategy of each Fund and as permitted by applicable securities legislation. Foreign currency exchange spot contracts and forward foreign currency exchange contracts are valued based on the difference between the contract forward rate and the rate prevailing on a reporting date. Realized and unrealized gains (losses) on forward foreign currency contracts are recorded in realized gain (loss) on derivatives and change in unrealized appreciation (depreciation) in the value of derivatives in the Statements of Comprehensive Income. Credit ratings on counterparties are based on the ratings from Standard & Poor’s.

n) Options

Certain Funds may purchase or write options in a manner consistent with the investment objective and strategy of each Fund and as permitted by applicable securities legislation. The premiums paid for purchasing options are recorded as an asset in the Statements of Financial Position. Premiums received from writing options are recorded as a liability in the Statements of Financial Position. When a purchased option expires, the Fund will realize a loss equal to the premium paid. When it is closed, the Fund will realize a gain or loss equal to the difference between the proceeds and the premium paid. When it is exercised, the premium paid at the time of purchase of the option is added to the adjusted cost base ofthe underlying security. When a written option expires, the Fund will realize a gain equal to the premium received. When it is closed, the Fund will realize a gain or loss equal to the difference between the proceeds and the premium received. When a written call option is exercised, the premium received is added to the proceeds of disposition of the underlying security to determine the realized gain (loss). When a written put option is exercised, the premium received will reduce the cost of the investment of the security purchased upon exercise of the option. Realized and unrealized gain (loss) on option contracts are recorded as realized gain (loss) on derivatives and change in unrealized appreciation (depreciation) in the value of derivatives, respectively in the Statements of Comprehensive Income.

265 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

o) Total return swaps

Certain Funds may enter into TRS agreements with counterparties that provide investors with exposure to the performance of the common shares of MFC. Should the value of MFC shares purchased by the counterparties suffer a reduction in value, the Funds will realize a loss as though MFC shares were directly held by the Funds and the Funds will be required to pay to the counterparties the difference between the depreciated value of the MFC shares and their cost together with a financing charge. Should the value of the MFC shares appreciate in value, the counterparties will pay to the Funds the difference between the appreciated value of the MFC shares and their cost, net of a financing charge. The TRSs of the Funds are fair valued daily based upon the terms of the TRS agreements. The realized and unrealized gain (loss) on the TRSs are recognized as realized gain (loss) on derivatives and change in unrealized appreciation (depreciation) in the value of derivatives, respectively in the Statements of Comprehensive Income.

p) Securities lending and repurchase transactions

The Funds may lend portfolio securities from time to time in order to earn additional income. The loaned securities of any Fund will not exceed 50% of the fair value of the assets of the Fund at any time. The minimum allowable collateral is 102% of the fair value of the loaned securities. The fair value of the loaned securities is determined at the close of any valuation date. The securities on loan and the securities sold in repurchase transactions continue to be disclosed in the Schedule of Investment Portfolio and in the Statements of Financial Position of the Fund. Any cash collateral received is included in the Statements of Financial Position in cash collateral received for securities on loan, if applicable. For those Funds engaged in securities lending, the amount of securities loaned and the value of collateral received is disclosed in Note 10, where applicable. Income earned from securities lending is included in income from securities lending in the Statements of Comprehensive Income.

A reconciliation of gross and net securities lending income has been included in Note 10, where applicable.

In a repurchase transaction, a Fund sells a security to a third party and agrees to buy the same or substantially the same security back from the third party at a predetermined price and date. The cost of borrowing incurred by the Fund is recorded as a component of interest expense and bank charges on the Statements of Comprehensive Income. A liability representing the obligations to repurchase the sold securities plus the accrued interests to be paid at maturity are recorded in the Statement of Financial Position. A detailed summary of the sold securities, including the fair value is presented in the Schedule of Investment Portfolio.

q) Increase (decrease) in net assets attributable to unitholders per unit

Increase (decrease) in net assets attributable to unitholders and partners per unit in the Statements of Comprehensive Income represents the increase (decrease) in net assets attributable to unitholders of each series for the year, divided by the weighted average number of units outstanding of that series during the year.

r) Foreign withholding tax

The Funds may incur withholding taxes imposed by certain countries on investment income and capital gains. Such income and gains are recorded on a gross basis and the related withholding taxes are shown as a separate expense in the Statements of Comprehensive Income.

s) New IFRS standards issued but not yet effective

There are no standards, interpretations or amendments to existing standards that are not yet effective that would be expected to have significant impact on the Funds.

3. FINANCIAL INSTRUMENT RISKS

Management of financial instrument risks

The Funds may be exposed to a variety of financial risks: credit risk, liquidity risk and market risk (including interest rate risk, currency risk, concentration risk and other market risk). The Funds’ overall risk management program seeks to maximize the returns derived for the level of risk to which the Fund is exposed, and seeks to minimize potential adverse effects on the Fund’s financial performance. The value of investments within the Funds’ holdings can fluctuate on a daily basis as a result of changes in interest rates, economic conditions and market and company news related to specific securities within the Funds. The Funds’ risk management practice includes the monitoring of compliance to investment policy and guidelines. The Manager manages the potential effects of these financial risks on the Funds’ performance by employing and overseeing professional and experienced portfolio advisors that regularly monitor the Funds’ positions, market events and diversify investment portfolios within the constraints of the investment guidelines. The Manager maintains a risk management practice that includes monthly and quarterly monitoring of the returns based risk profile of the Funds. The Manager also monitors compliance with investment restrictions to ensure that each Fund is being managed in accordance with their stated investment objectives, strategies and securities regulations. Some Funds specialize in a particular industry, or in a single country or geographic region of the world. These Funds may therefore be more volatile than more broadly diversified Funds. The overall risk management program of such Funds seeks to minimize the potentially adverse effect of risk on each Fund’s financial performance in a manner consistent with its investment objective. The Manager is the portfolio advisor for Manulife Asset Management Global Diversified Balanced Pooled Fund, Manulife Asset Management Target De-Risking 80 Pooled Fund, Manulife Asset Management Target De-Risking 90 Pooled Fund, Manulife Asset Management Target De-Risking 100 Pooled Fund, Manulife Asset Management Target De-Risking 105 Young Pooled Fund, Manulife Asset Management Target De-Risking 105 Average Pooled Fund and Manulife Asset Management Target De-Risking 105 Mature Pooled Fund and provides analysis and makes the decisions as to which underlying funds the Fund will invest in and the target weighting of the Fund’s portfolio assets. The management team evaluates a broad range of market and economic variables along with fundamental research to arrive at the appropriate asset allocation. As market conditions change, the asset mix is gradually changed in an effort to maximize returns and minimize risk.

266 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Financial instruments risks

a) Credit risk

Credit risk is the risk that the issuer of a debt security or counterparty to a financial instrument will fail to pay the interest or to repay the principal or discharge an obligation or commitment that it has entered into with the Fund. The carrying value of investments as presented in the Schedule of Investment Portfolio represents the maximum credit risk exposure as at December 31, 2018. This also applies to other assets, as they have short terms to settlement. The midpoint credit rating from Standard & Poor’s has been used in the risk disclosures. All transactions in listed securities are settled/paid for upon delivery using approved brokers. The risk of default is considered minimal, as delivery of securities sold is only made once the broker has received payment. Payment is made on a purchase once the securities have been received by the broker.A trade will fail if either party fails to meet its obligation. Since money market funds primarily invest in securities with maturities less than one year, their exposure to credit risk is minimal. Credit risk is presented on debt securities (excluding short-term investments) and derivative assets. The Funds may be exposed to indirect credit risk in the event that the underlying fund holds debt securities and/or derivative assets. The following table summarizes the Funds’ exposure to credit risk as a percentage of net assets attributable to unitholders.

Credit ratings (%) of net assets attributable to unitholders As at December 31, AAA AA A BBB BB B CCC D/D/D N/R Total

Manulife Asset Management Canadian Bond Index Pooled Fund 2018 38.6 18.4 31.0 11.3 - - - - 0.2 99.5 2017 40.3 16.2 32.3 10.7 - - - - - 99.5 Manulife Asset Management Canadian Core Fixed Income Pooled Fund 2018 22.4 24.0 36.1 16.3 - - - - 0.1 98.9 2017 22.2 22.8 38.0 15.4 - - - - - 98.4 Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund 2018 22.8 24.1 41.0 10.9 - - - - - 98.8 2017 19.4 22.9 44.1 10.8 - - - - - 97.2 Manulife Asset Management Canadian Core Plus Fixed Income Pooled Fund 2018 18.7 15.8 19.9 14.8 11.8 11.4 2.0 - 1.3 95.7 2017 24.2 16.1 23.7 13.0 8.0 10.4 1.4 - 1.0 97.8 Manulife Asset Management Canadian Corporate Fixed Income Pooled Fund 2018 2.4 12.6 30.1 53.1 - - - - - 98.2 Manulife Asset Management Canadian Short Duration Fixed Income Pooled Fund 2018 26.6 15.9 26.0 30.4 0.1 - - - - 99.0 2017 23.9 19.1 31.3 24.9 0.1 - - - - 99.3 Manulife Asset Management Short-Term Bond Pooled Fund 2018 20.7 17.5 29.5 30.8 - - - - - 98.5 2017 21.2 17.5 28.8 30.1 - - - - - 97.6 Manulife Asset Management Short-Term Liability Government Bond Pooled Fund 2018 7.5 33.6 58.3 ------99.4 2017 8.1 32.7 58.4 ------99.2 Manulife Asset Management Short-Term Liability Corporate Bond Pooled Fund 2018 2.9 15.3 34.1 46.8 - - - - - 99.1 2017 3.5 8.6 45.6 41.1 - - - - - 98.8 Manulife Asset Management Mid-Term Liability Government Bond Pooled Fund 2018 10.2 38.1 51.2 ------99.5 2017 10.5 37.6 51.4 ------99.5 Manulife Asset Management Mid-Term Liability Corporate Bond Pooled Fund 2018 0.2 3.5 53.0 41.9 - - - - 0.3 98.9 2017 0.3 1.6 58.7 38.2 - - - - - 98.8 Manulife Asset Management Long-Term Liability Government Bond Pooled Fund 2018 11.2 36.1 52.4 ------99.7 2017 10.9 33.4 55.3 ------99.6 Manulife Asset Management Leveraged Liability Government Bond Pooled Fund 2018 28.4 102.8 161.4 ------292.6 Manulife Asset Management Ultra Long Duration Fixed Income Pooled Fund 2018 12.5 31.7 49.5 5.4 - - - - - 99.1 2017 10.6 32.1 51.6 4.6 - - - - - 98.9

267 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Credit ratings (%) of net assets attributable to unitholders As at December 31, AAA AA A BBB BB B CCC D/D/D N/R Total

Manulife Asset Management Strategic Income Pooled Fund 2018 13.9 7.1 8.3 29.1 23.4 7.8 0.2 - 5.9 95.7 2017 13.9 7.6 9.1 26.6 18.9 7.5 - - 4.3 87.9 Manulife Asset Management Strategic Income (ex Tobacco and Marijuana) Pooled Fund 2018 15.4 5.5 9.0 29.3 23.5 8.0 0.3 - 5.1 96.1 2017 16.1 7.2 8.8 26.7 19.1 7.5 - - 4.1 89.5 Manulife Asset Management Emerging Markets Corporate Debt Pooled Fund 2018 - - 4.5 28.9 33.2 14.3 0.6 0.1 1.5 83.1 2017 - - 4.0 39.0 32.2 16.0 1.0 - 3.0 95.2 Manulife Asset Management Emerging Markets Local Currency Debt Pooled Fund 2018 - - 23.0 32.6 26.6 3.7 - - 10.3 96.2 2017 - - 22.5 32.0 24.7 5.2 - - 12.6 97.0 Manulife Asset Management Global Diversified Balanced Pooled Fund 2017 - 0.3 ------0.3 Manulife Asset Management S&P / TSX 60 Pooled Fund II 2017 - 0.1 ------0.1 Manulife Real Asset Fund 2018 7.6 ------7.6 2017 8.0 0.4 ------8.4 Fonds Manuvie - HEC 2018 13.4 8.4 5.7 3.4 - - - - - 30.9 2017 12.7 6.1 8.8 2.3 - - - - - 29.9 b) Interest rate risk

The interest rate risk is presented on debt securities (excluding short-term investments). All short-term investments have a maturity of less than one year.The Funds are exposed to the risk that the fair value of interest-bearing financial instruments will fluctuate due to changes in the prevailing levels of market interest rates. Other assets and liabilities are either short-term in nature or non-interest-bearing.

Generally, the fair value of fixed income securities will vary inversely in relation to a change in interest rates. As interest rates rise, the fair value of fixed income securities falls and vice versa. The magnitude of the fall and rise will generally be greater for long-term fixed income securities than for short-term fixed income securities.

Since money market funds primarily invest in securities with maturities less than one year, their exposure to interest rate risk is minimal.

The Funds may be exposed to indirect interest rate risk in the event that the underlying fund holds debt securities.

Had the prevailing interest rates raised or lowered by 25 basis points (0.25%) with all other variables held constant, based on duration for bonds using earlier of contractual re-pricing or maturity date, net assets attributable to unitholders would have decreased or increased, respectively, by approximately the amount presented in the column Impact on net assets. In practice, actual results may differ from this sensitivity analysis and the difference could be material.

Remaining term to maturity Impact on As at December 31, < 1 year 1-3 years 3-5 years > 5 years Total net assets

Manulife Asset Management Canadian Bond Index Pooled Fund 2018 22 262,250 217,655 625,569 1,105,496 20,866 2017 - 260,600 232,928 632,520 1,126,048 21,567 Manulife Asset Management Canadian Core Fixed Income Pooled Fund 2018 4,725 81,515 77,648 338,460 502,348 9,821 2017 2,886 77,308 93,023 353,243 526,460 10,042 Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund 2018 870 - - 935,663 936,533 35,565 2017 - 891 - 980,132 981,023 36,951 Manulife Asset Management Canadian Core Plus Fixed Income Pooled Fund 2018 699 8,577 13,119 57,532 79,927 1,357 2017 678 9,839 12,482 61,798 84,797 1,441 Manulife Asset Management Canadian Corporate Fixed Income Pooled Fund 2018 153 7,370 9,954 15,885 33,362 500

268 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Remaining term to maturity Impact on As at December 31, < 1 year 1-3 years 3-5 years > 5 years Total net assets

Manulife Asset Management Canadian Short Duration Fixed Income Pooled Fund 2018 1,605 9,514 10,032 2,674 23,825 164 2017 - 14,156 7,263 1,498 22,917 154 Manulife Asset Management Short-Term Bond Pooled Fund 2018 2,011 23,454 25,611 4,542 55,618 371 2017 1,060 18,183 15,846 2,547 37,636 129 Manulife Asset Management Short-Term Liability Government Bond Pooled Fund 2018 954 14,390 9,108 38,884 63,336 1,078 2017 - 8,985 8,818 38,652 56,455 1,075 Manulife Asset Management Short-Term Liability Corporate Bond Pooled Fund 2018 780 1,572 2,028 9,167 13,547 227 2017 - 1,976 1,183 8,033 11,192 209 Manulife Asset Management Mid-Term Liability Government Bond Pooled Fund 2018 2,322 5,308 7,174 165,866 180,670 6,134 2017 - 4,721 6,176 171,075 181,972 6,540 Manulife Asset Management Mid-Term Liability Corporate Bond Pooled Fund 2018 501 1,682 1,526 78,311 82,020 2,731 2017 - 428 1,444 57,490 59,362 2,091 Manulife Asset Management Long-Term Liability Government Bond Pooled Fund 2018 - - - 171,139 171,139 8,125 2017 - - - 257,904 257,904 12,802 Manulife Asset Management Leveraged Liability Government Bond Pooled Fund 2018 - - 2,772 26,766 29,538 1,001 Manulife Asset Management Ultra Long Duration Fixed Income Pooled Fund 2018 - 20 - 97,982 98,002 5,312 2017 - - - 109,225 109,225 6,113 Manulife Asset Management Strategic Income Pooled Fund 2018 103,363 365,049 659,671 1,680,326 2,808,409 23,871 2017 76,186 307,454 392,263 1,364,480 2,140,383 12,763 Manulife Asset Management Strategic Income (ex Tobacco and Marijuana) Pooled Fund 2018 3,003 12,718 24,341 55,705 95,767 688 2017 1,946 13,611 18,437 55,704 89,698 573 Manulife Asset Management Emerging Markets Corporate Debt Pooled Fund 2018 696 7,555 29,167 77,248 114,666 1,774 2017 253 774 7,233 20,978 29,238 447 Manulife Asset Management Emerging Markets Local Currency Debt Pooled Fund 2018 1,639 4,102 2,872 6,913 15,526 146 2017 - 4,719 3,000 7,912 15,631 166 Manulife Real Asset Fund 2018 1,182 1,673 192 - 3,047 13 2017 - 978 1,710 - 2,688 15 Fonds Manuvie - HEC 2018 - 289 146 377 812 12 2017 - 142 300 385 827 16 c) Currency risk

Currency risk arises from financial instruments that are denominated in a currency other than the functional currency of each Fund. The Funds are exposed to the risk that the fair value of securities denominated in other currencies will fluctuate due to changes in exchange rates. The Schedule of Investment Portfolio identifies all fixed income securities denominated in foreign currencies. Fixed income securities are presumed to be denominated in the Fund’s presentation currency unless otherwise noted. Equities trading in foreign markets are also exposed to currency risk as the price in local terms on the foreign stock exchange is converted to the functional currency to determine fair value. The foreign currency exposure amounts are based on the fair value of the Funds’ holdings and the underlying notional amounts of any derivative contracts. The investments include both monetary and non-monetary instruments. The Funds may be exposed to indirect currency risk in the event the underlying funds invest in foreign currency denominated instruments.

269 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

The following table summarizes the Funds’ exposure to currency risk. Had the Canadian dollar strengthened or weakened by 1% as at December 31, 2018 (10%asat December 31, 2017) in relation to all currencies, with all other variables held constant, net assets attributable to unitholders would have decreased or increased by the amount presented in the column Impact on net assets. In practice, actual results may differ from this sensitivity analysis and the difference could be material.

As at December 31, 2018 2017 Financial Financial instruments Net %of Impact instruments Net %of Impact excluding currency net on net excluding currency net on net Currency derivatives Derivatives exposure assets assets derivatives Derivatives exposure assets assets

Manulife Asset Management Canadian Core Fixed Income Pooled Fund EUR 256 (147) 109 - 145 - 145 - USD 9,796 (9,805) (9) - 5,881 (2,914) 2,967 0.6 Total 10,052 (9,952) 100 - 1 6,026 (2,914) 3,112 0.6 311 Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund EUR 385 (328) 57 - 986 - 986 0.1 USD 13,106 (12,942) 164 - 11,171 (5,518) 5,653 0.6 Total 13,491 (13,270) 221 - 2 12,157 (5,518) 6,639 0.7 664 Manulife Asset Management Canadian Core Plus Fixed Income Pooled Fund EUR 33 (25) 8 - 48 - 48 0.1 USD 22,214 (18,724) 3,490 4.2 18,233 (13,339) 4,894 5.6 Total 22,247 (18,749) 3,498 4.2 35 18,281 (13,339) 4,942 5.7 494 Manulife Asset Management Canadian Short Duration Fixed Income Pooled Fund USD 3 - 3 - 3 - 3 - Total 3 - 3 - - 3 - 3 - - Manulife Asset Management Ultra Long Duration Fixed Income Pooled Fund USD 1,345 (1,080) 265 0.3 375 (282) 93 0.1 Total 1,345 (1,080) 265 0.3 3 375 (282) 93 0.1 9 Manulife Asset Management Strategic Income Pooled Fund AUD 111,799 (111,108) 691 - 136,925 (135,658) 1,267 0.1 BRL 80,852 - 80,852 2.7 22,683 - 22,683 0.9 COP 32,955 - 32,955 1.1 6,765 - 6,765 0.3 EUR 266,124 (259,263) 6,861 0.2 10,841 (10,994) (153) - GBP 30,585 1 30,586 1.0 22,601 (21,669) 932 - IDR 104,947 - 104,947 3.5 52,519 - 52,519 2.2 INR 4,945 - 4,945 0.2 15,387 - 15,387 0.6 KRW - - - - 244 - 244 - MXN 8,723 (8,492) 231 - 65,813 - 65,813 2.7 MYR 46,168 - 46,168 1.6 14,991 - 14,991 0.6 NOK 56,605 (39,943) 16,662 0.6 29,130 (28,651) 479 - NZD 93,685 (92,285) 1,400 - 134,415 (132,519) 1,896 0.1 PHP 49,440 - 49,440 1.7 36,688 - 36,688 1.5 SEK (1) - (1) - 2,993 (2,899) 94 - SGD 38,960 (38,822) 138 - 52,531 (52,247) 284 - USD 2,036,758 (1,993,589) 43,169 1.5 1,579,838 (1,518,920) 60,918 2.5 Total 2,962,545 (2,543,501) 419,044 14.1 4,190 2,184,364 (1,903,557) 280,807 11.5 28,081

270 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Manulife Asset Management Strategic Income (ex Tobacco and Marijuana) Pooled Fund AUD 3,863 (3,836) 27 - 5,752 (5,694) 58 0.1 BRL 2,767 - 2,767 2.7 912 - 912 0.9 COP 958 - 958 1.0 300 - 300 0.3 EUR 9,163 (8,943) 220 0.2 488 (494) (6) - GBP 1,001 - 1,001 1.0 1,247 (1,247) - - IDR 3,106 - 3,106 3.1 2,145 - 2,145 2.1 INR 149 - 149 0.1 649 - 649 0.7 MXN 283 (275) 8 - 2,619 - 2,619 2.6 MYR 1,538 - 1,538 1.5 670 - 670 0.6 NOK 1,875 (1,399) 476 0.5 1,276 (1,254) 22 - NZD 3,353 (3,306) 47 - 5,697 (5,625) 72 0.1 PHP 1,701 - 1,701 1.7 1,667 - 1,667 1.7 SGD 1,384 (1,363) 21 - 2,293 (2,288) 5 - USD 70,235 (67,548) 2,687 2.7 64,378 (63,697) 681 0.7 Total 101,376 (86,670) 14,706 14.5 147 90,093 80,299 9,794 9.8 979 Manulife Asset Management Emerging Markets Corporate Debt Pooled Fund EUR 245 - 245 0.2 236 - 236 0.8 JPY - - - - - 293 293 1.0 MXN 596 - 596 0.4 312 - 312 1.0 USD 137,083 9 137,092 99.4 30,245 (291) 29,954 97.3 Total 137,924 9 137,933 100.0 1,379 30,793 2 30,795 100.1 3,080 Manulife Asset Management Emerging Markets Local Currency Debt Pooled Fund BRL 2,315 417 2,732 16.9 2,018 - 2,018 12.5 COP 692 - 692 4.3 703 - 703 4.4 EUR - 170 170 1.1 - - - - HUF 1,185 - 1,185 7.3 1,256 - 1,256 7.8 IDR 1,926 1 1,927 11.9 1,759 - 1,759 10.9 JPY - - - - - 270 270 1.7 MXN 1,622 (1) 1,621 10.0 1,564 - 1,564 9.7 MYR 485 - 485 3.0 453 - 453 2.8 PEN 98 - 98 0.6 98 - 98 0.6 PHP 131 - 131 0.8 132 - 132 0.8 PLN 1,536 - 1,536 9.5 1,548 - 1,548 9.6 RON 471 - 471 2.9 463 - 463 2.9 RUB 1,231 - 1,231 7.6 1,367 - 1,367 8.5 TRY 934 - 934 5.8 1,220 - 1,220 7.6 USD 1,053 (586) 467 2.9 1,320 (362) 958 5.9 UYU 166 - 166 1.0 191 - 191 1.2 ZAR 2,148 1 2,149 13.3 1,979 - 1,979 12.3 Total 15,993 2 15,995 98.9 160 16,071 (92) 15,979 99.2 1,598 Manulife Asset Management Global Diversified Balanced Pooled Fund EUR - - - - - (292) (292) (2.1) JPY - - - - - (40) (40) (0.3) USD 5,891 (3,082) 2,809 19.7 5,183 (2,251) 2,932 20.9 Total 5,891 (3,082) 2,809 19.7 28 5,183 (2,583) 2,600 18.5 260 Manulife Asset Management Canadian Large Cap Growth Pooled Fund USD 30-30- 21-21- Total 30 - 30 - - 21 - 21 - -

271 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Manulife Asset Management Canadian Equity Index Pooled Fund GBP 221 - 221 - 215 - 215 - USD 762 - 762 0.1 614 - 614 0.1 Total 983 - 983 0.1 10 829 - 829 0.1 83 Manulife Asset Management Canadian Core Equity Pooled Fund USD 69 - 69 0.1 24 - 24 0.1 Total 69 - 69 0.1 1 24 - 24 0.1 - Manulife Asset Management Capped Canadian Equity Pooled Fund USD 191 - 191 0.3 106 - 106 0.2 Total 191 - 191 0.3 2 106 - 106 0.2 11 Manulife Asset Management Canadian Value Equity Pooled Fund USD 7 - 7 - 10 - 10 - Total 7 - 7 - - 10 - 10 - - Manulife Asset Management US Large Cap Core Pooled Fund EUR 5,917 - 5,917 2.1 2,836 - 2,836 0.7 USD 274,766 - 274,766 97.7 379,216 - 379,216 99.2 Total 280,683 - 280,683 99.8 2,807 382,052 - 382,052 99.9 38,205 Manulife Asset Management US Equity Index Pooled Fund USD 1,138,110 (717) 1,137,393 100.0 1,303,134 - 1,303,134 99.9 Total 1,138,110 (717) 1,137,393 100.0 11,374 1,303,134 - 1,303,134 99.9 130,313 Manulife Asset Management US Equity Index Pooled Fund (Non-Taxable) USD 714,453 (1,247) 713,206 99.9 78,796 8,635 787,957 99.8 Total 714,453 (1,247) 713,206 99.9 7,132 78,796 8,635 787,957 99.8 78,796 Manulife Asset Management US Small Cap Value Pooled Fund USD 3,619 - 3,619 100.2 4,116 - 4,116 100.2 Total 3,619 - 3,619 100.2 36 4,116 - 4,116 100.2 412 Manulife Asset Management Emerging Markets Equity Pooled Fund BRL 1,044 - 1,044 7.8 1,005 - 1,005 6.8 CNY 294 - 294 2.2 - - - - CZK - - - - 175 - 175 1.2 EUR - - - - 57 - 57 0.4 GBP 416 - 416 3.1 573 - 573 3.9 HKD 4,210 - 4,210 31.5 3,431 - 3,431 23.4 IDR 305 - 305 2.3 608 - 608 4.1 KRW 1,354 - 1,354 10.1 1,792 - 1,792 12.2 MXN 241 - 241 1.8 426 - 426 2.9 PHP 148 - 148 1.1 - - - - THB - - - - 165 - 165 1.1 TWD 331 - 331 2.5 299 - 299 2.0 USD 4,423 - 4,423 33.1 5,150 - 5,150 35.1 ZAR 504 - 504 3.8 823 - 823 5.6 Total 13,270 - 13,270 99.3 133 14,504 - 14,504 98.7 1,450

272 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Manulife Asset Management Global Focus Pooled Fund CHF 8,678 - 8,678 8.2 3,507 - 3,507 6.1 EUR 21,777 - 21,777 20.5 12,504 - 12,504 21.8 GBP 8,252 - 8,252 7.8 7,345 (27) 7,318 12.7 JPY 971 - 971 0.9 - - - - USD 50,965 - 50,965 47.9 30,332 (7) 30,325 52.7 Total 90,643 - 90,643 85.3 906 53,688 (34) 53,654 93.3 5,365 Manulife Asset Management Global Equity II Pooled Fund AUD 1,898 - 1,898 3.2 3,534 - 3,534 3.1 BRL 286 - 286 0.5 - - - - CHF 4,584 - 4,584 7.7 11,371 - 11,371 9.9 EUR 13,919 (3,372) 10,547 17.8 22,206 - 22,206 19.3 GBP 2,706 - 2,706 4.6 5,766 - 5,766 5.0 HKD 1,776 - 1,776 3.0 3,832 - 3,832 3.3 JPY 1,285 - 1,285 2.2 7,718 - 7,718 6.7 USD 30,215 3,340 33,555 56.7 56,482 - 56,482 49.1 Total 56,669 (32) 56,637 95.7 566 110,909 - 110,909 96.4 11,091 Manulife Asset Management Global Equity Index Pooled Fund USD 7,054 (61) 6,993 12.3 5,148 - 5,148 11.6 Total 7,054 (61) 6,993 12.3 70 5,148 - 5,148 11.6 515 Manulife Asset Management Global Natural Resources Pooled Fund AUD 8 - 8 0.5 11 - 11 0.5 EUR 16 - 16 1.0 - - - - GBP 10 - 10 0.6 - - - - NOK 11 - 11 0.7 - - - - SEK 32 - 32 1.9 33 - 33 1.6 USD 993 - 993 59.2 1,112 - 1,112 55.1 Total 1,070 - 1,070 63.9 11 1,156 - 1,156 57.2 116 Manulife Asset Management Global Energy Pooled Fund EUR 44 - 44 3.1 - - - - GBP 2 - 2 0.1 - - - - NOK 15 - 15 1.1 - - - - SEK 32 - 32 2.3 28 - 28 1.5 USD 1,044 - 1,044 74.3 1,240 - 1,240 67.9 Total 1,137 - 1,137 80.9 11 1,268 - 1,268 69.4 127 Manulife Asset Management Global Precious Metals Pooled Fund AUD 52 - 52 2.6 32 - 32 1.5 GBP 85 - 85 4.3 133 - 133 6.1 USD 287 - 287 14.5 345 - 345 15.8 ZAR 1 - 1 0.1 - - - - Total 425 - 425 21.5 4 510 - 510 23.4 51

273 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Manulife Asset Management Global Small Cap Equity Pooled Fund AUD 98 - 98 1.0 280 - 280 3.4 DKK - - - - 102 - 102 1.3 EUR 1,235 - 1,235 12.7 1,075 - 1,075 13.2 GBP 555 - 555 5.7 348 - 348 4.3 HKD 173 - 173 1.8 84 - 84 1.0 IDR 319 - 319 3.3 208 - 208 2.6 JPY 1,424 - 1,424 14.6 865 - 865 10.6 KRW 95 - 95 1.0 168 - 168 2.1 MYR - - - - 85 - 85 1.0 SEK 123 - 123 1.3 102 - 102 1.3 USD 4,864 - 4,864 49.9 4,100 - 4,100 50.5 ZAR 226 - 226 2.3 117 - 117 1.4 Total 9,112 - 9,112 93.6 91 7,534 - 7,534 92.7 753 Manulife Asset Management International Equity Index Pooled Fund AUD 45,992 - 45,992 6.7 35,043 - 35,043 6.7 CHF 57,576 - 57,576 8.4 41,076 - 41,076 7.8 DKK 11,553 - 11,553 1.7 9,262 - 9,262 1.8 EUR 206,270 - 206,270 30.1 162,422 (5) 162,417 31.0 GBP 114,059 - 114,059 16.6 90,523 (25) 90,498 17.3 HKD 23,377 - 23,377 3.4 16,802 (8) 16,794 3.2 ILS 1,889 - 1,889 0.3 1,326 - 1,326 0.3 JPY 160,232 - 160,232 23.4 121,387 - 121,387 23.2 NOK 4,799 - 4,799 0.7 3,334 - 3,334 0.6 NZD 1,524 - 1,524 0.2 873 - 873 0.2 SEK 17,867 - 17,867 2.6 13,569 - 13,569 2.6 SGD 9,082 - 9,082 1.3 6,666 - 6,666 1.3 USD 25,209 (600) 24,609 3.6 15,890 38 15,928 3.0 Total 679,429 (600) 678,829 99.0 6,788 518,173 - 518,173 99.0 51,817 Manulife Asset Management Global Opportunistic Allocation Pooled Fund USD 435 - 435 101.4 418 - 418 99.8 Total 435 - 435 101.4 4 418 - 418 99.8 42 Manulife Asset Management S&P / TSX 60 Pooled Fund II USD 156 - 156 - 95 - 95 - Total 156 - 156 - 2 95 - 95 - 10 Manulife Real Asset Fund USD 8,563 (11,187) (2,624) (6.5) 7,592 (5,650) 1,942 5.7 Total 8,563 (11,187) (2,624) (6.5) (26) 7,592 (5,650) 1,942 5.7 194 Fonds Manuvie - HEC USD 6 - 6 0.2 3 - 3 0.1 Total 6 - 6 0.2 - 3 - 3 0.1 -

d) Concentration risk

Concentration risk arises as a result of the concentration of exposures within the same category, whether it is geographical location, product type, industry sector or counterparty type. Effective September 2018, Morgan Stanley Capital International announced a restructuring of the Global Industry Classification Standard by redefining and renaming some sectors. The concentration risk table in the Schedule of Investment Portfolio reflects this new classification on a prospective basis.

274 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

e) Other market risk

The value of units of a Fund that invests in securities is directly related to the fair value of those investments held by that Fund. The fair value of those investments will increase or decrease depending on the financial performance of the issuers and general economic, political, tax and market conditions. All securities present a risk of loss of capital. The Manager manages this risk through a careful selection of securities and other financial instruments within the parameters of the Funds’ investment strategies. Except for options written and futures contracts held short (if any), the maximum risk resulting from financial instruments is equivalent to their fair values. Possible losses from options written and futures contracts held short can be unlimited. The Funds’ equity, debt and derivative instruments are susceptible to market price risk arising from uncertainties about future prices of the instruments. Since money market funds primarily invest in investments that are short-term in nature, their exposure to other market risk is minimal. The impact on net assets attributable to unitholders of the Funds due to a 5% change in the benchmark, using historical correlation between the Funds return as compared to the return of their benchmark, with all other variables held constant, is summarized in the table below. Regression analysis was used to estimate the historical correlation. Historical correlation may not be representative of future correlation, and accordingly the impact on net assets attributable to unitholders could be material.

As at December 31, Benchmark 2018 2017

Manulife Asset Management Canadian Bond Index FTSE TMX Universe Bond TR Index 55,537 56,554 Pooled Fund Manulife Asset Management Canadian Core Fixed FTSE TMX Universe Bond TR Index 25,647 27,224 Income Pooled Fund Manulife Asset Management Canadian Long Duration FTSE TMX Long Term Bond TR Index 46,892 49,949 Fixed Income Pooled Fund Manulife Asset Management Canadian Core Plus Fixed FTSE TMX Universe Bond TR Index 3,261 3,462 Income Pooled Fund Manulife Asset Management Canadian Corporate Fixed FTSE TMX Universe All Corporate Bond TR Index 1,699 N/A Income Pooled Fund Manulife Asset Management Canadian Short Duration FTSE TMX Short Term Bond TR Index 1,191 1,154 Fixed Income Pooled Fund Manulife Asset Management Short-Term Bond Pooled FTSE TMX Short Term Bond TR Index 2,625 1,825 Fund Manulife Asset Management Short-Term Liability Manulife Asset Management Short-Term Liability Provincial Bond 3,187 2,834 Government Bond Pooled Fund Benchmark Manulife Asset Management Short-Term Liability Manulife Asset Management Short-Term Liability Corporate Bond 691 574 Corporate Bond Pooled Fund Benchmark Manulife Asset Management Mid-Term Liability Manulife Asset Management Mid-Term Liability Provincial Bond 9,080 9,146 Government Bond Pooled Fund Benchmark Manulife Asset Management Mid-Term Liability Manulife Asset Management Mid-Term Liability Corporate Bond 4,149 2,998 Corporate Bond Pooled Fund Benchmark Manulife Asset Management Long-Term Liability Manulife Asset Management Long-Term Liability Provincial Bond 8,587 12,932 Government Bond Pooled Fund Benchmark Manulife Asset Management Leveraged Liability Manulife Asset Management Leveraged Liability Government 505 N/A Government Bond Pooled Fund Bond Pooled Fund Custom Benchmark Manulife Asset Management Ultra Long Duration Fixed FTSE TMX 20+ Overall Index 4,847 5,365 Income Pooled Fund Manulife Asset Management Strategic Income Pooled Bloomberg Barclays U.S. Aggregate Bond Index 38,551 36,864 Fund Manulife Asset Management Strategic Income (ex Bloomberg Barclays Capital Multiverse Index (CAD) 353 5,010 Tobacco and Marijuana) Pooled Fund Manulife Asset Management Emerging Markets JPMorgan Corporate EMBI Broad Diversified Composite 7,036 1,173 Corporate Debt Pooled Fund Manulife Asset Management Emerging Markets Local JPMorgan GBI-EM Global Diversified Composite Unhedged 791 803 Currency Debt Pooled Fund Manulife Asset Management Global Diversified Canadian CPI + 5% (43) (82) Balanced Pooled Fund Manulife Asset Management Canadian Large Cap S&P/TSX Equity linked to S&P/TSX Composite 2,835 3,599 Growth Pooled Fund Manulife Asset Management Canadian Equity Index S&P/TSX Composite Total Return Index 33,599 37,264 Pooled Fund

275 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

As at December 31, Benchmark 2018 2017

Manulife Asset Management Canadian Core Equity S&P/TSX Composite Total Return Index 4,267 923 Pooled Fund Manulife Asset Management Canadian Core Equity S&P/TSX Composite Total Return Index (CAD) 94 N/A Focused Pooled Fund Manulife Asset Management Capped Canadian Equity S&P/TSX Capped Composite Index (Total Return) (CAD) 2,855 3,038 Pooled Fund Manulife Asset Management Canadian Value Equity S&P/TSX Capped Composite Index (Total Return) (CAD) 1,541 1,831 Pooled Fund Manulife Asset Management Canadian All Cap Focused S&P/TSX Composite Total Return Index 632 87 Equity Pooled Fund Manulife Asset Management US Large Cap Core Pooled S&P 500 Index (CAD) 15,320 20,774 Fund Manulife Asset Management US Equity Index Pooled S&P 500 Index (CAD) 56,842 65,179 Fund Manulife Asset Management US Equity Index Pooled S&P 500 Index (CAD) 35,712 39,457 Fund (Non-Taxable) Manulife Asset Management US Small Cap Value Pooled Russell 2000 Value Index 164 185 Fund Manulife Asset Management Emerging Markets Equity MSCI Emerging Markets Net Return Index (CAD) 675 744 Pooled Fund Manulife Asset Management Global Focus Pooled Fund MSCI World Gross Total Return (CAD) 5,319 2,869 Manulife Asset Management Global Equity II Pooled MSCI World NR (CAD) 2,665 5,244 Fund Manulife Asset Management Global Equity Index Pooled Custom Developed and Emerging Markets Index 2,833 2,196 Fund Manulife Asset Management Global Natural Resources 65% MSCI World Energy Index NR (CAD) and 35% MSCI 90 118 Pooled Fund Materials Index NR (CAD) Manulife Asset Management Global Energy Pooled Fund MSCI World Energy Index NR 88 120 Manulife Asset Management Global Precious Metals FTSE Gold Mines Index TR 83 79 Pooled Fund Manulife Asset Management Global Small Cap Equity S&P Developed Small Cap Index TR (CAD) 458 380 Pooled Fund Manulife Asset Management International Equity Index MSCI EAFE Index 33,917 25,919 Pooled Fund Manulife Asset Management Target De-Risking 80 Manulife AM Target De-Risking 80 Custom Benchmark 1,477 1,747 Pooled Fund Manulife Asset Management Target De-Risking 90 Manulife AM Target De-Risking 90 Custom Benchmark 1,511 1,789 Pooled Fund Manulife Asset Management Target De-Risking 100 Manulife AM Target De-Risking 100 Custom Benchmark 27 9 Pooled Fund Manulife Asset Management Target De-Risking 105 Manulife AM Target De-Risking 105 (YNG) Custom Bench 214 212 Young Pooled Fund Manulife Asset Management Target De-Risking 105 Manulife AM Target De-Risking 105 (AVG) Custom Benchmark 78 386 Average Pooled Fund Manulife Asset Management Target De-Risking 105 Manulife AM Target De-Risking 105 (MAT) Custom Benchmark - 42 Mature Pooled Fund Manulife Asset Management Global Opportunistic 50% MSCI AC World and 50% BC Global Agg. Bond Index 23 22 Allocation Pooled Fund Manulife Asset Management Global Absolute Return Canadian Bankers Acceptances 6-Month (10,393) 9,948 Strategies Pooled Fund Manulife Asset Management Global Absolute Return Canadian Bankers Acceptances 6-Month 7,007 7,914 Strategies Private Pooled Fund Manulife Asset Management S&P / TSX 60 Pooled Fund II S&P/TSX 60 (Total Return) 19,308 23,658 Manulife Real Asset Fund Canadian Consumer Price Index + 4% (3,600) 1,689 Fonds Manuvie - HEC 55% S&P/TSX Capped Composite Index 45% FTSE TMX Canada 145 125 Universe

276 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

f) Liquidity risk

Liquidity risk is the risk that a Fund may not be able to settle or meet its obligations associated with financial liabilities on time. Each Fund is exposed to daily cash redemptions of units. The Funds are primarily invested in securities that are traded in active markets and can be readily disposed of. All other liabilities of the Funds, other than derivatives, mature in six months or less. In addition, the Funds try to maintain sufficient cash positions to meet liquidity requirements. The Funds also have the ability to borrow up to 5% of their net assets attributable to unitholders for the purpose of funding redemptions. From time to time, certain Funds may enter into certain financial instruments transactions which are not traded in an organized market and may be illiquid. The Funds restrict such investments to 10% of the investments in the Funds to maintain liquidity.

g) Fair value measurement

The Funds classify each financial instrument into one of three fair value levels within the fair value hierarchy. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are: Level 1 – for unadjusted quoted prices in active markets for identical assets or liabilities, Level 2 – for inputs, other than quoted prices included in Level 1, that are observable for the asset or liabilities, either directly (i.e. as prices) or indirectly (i.e. derived from prices), and Level 3 – for inputs that are based on unobservable market data.

If inputs of different levels are used to measure an asset’s or liability’s fair value, the classification within the hierarchy is based on the lowest level input that is significant to the fair value measurement.

All fair value measurements are recurring. For financial instruments whose fair values approximate their carrying values, given their short term nature, the carrying values of financial instruments measured at amortized cost approximate their fair values. Fair values are classified as Level 1 when the related security or derivative is actively traded and a quoted price is available. If an instrument classified as Level 1 subsequently ceases to be actively traded, it is transferred out of Level 1. In such cases, instruments are reclassified into Level 2, unless the measurement of its fair value requires the use of significant unobservable inputs, in which case it is classified as Level 3.

Equities

The Funds’ equity positions are classified as Level 1 when the security is actively traded and a reliable price is observable. In cases where the fair value is determined using observable market data, the position is classified as Level 2, unless the determination of fair value requires significant unobservable data, in which case the classification is Level 3. Certain of the Funds’ equities may not trade frequently and therefore observable prices may not be available. Where fair value factors are applied to the close price, the positions are classified as Level 2 unless the determination of fair value requires significant unobservable data, in which case the classification is Level 3.

Bonds and short-term investments

Bonds include primarily government and corporate bonds, which are valued using models with inputs including interest rate curves, credit spreads and volatilities. The inputs that are significant to valuation are generally observable and therefore the Funds’ bonds and short-term investments have been classified as Level 2, unless the determination of fair value requires significant unobservable input, in which they are classified as Level 3.

Derivative assets and liabilities

Derivative assets and liabilities may consist of forward foreign currency contracts, futures contracts, options contracts and swap contracts. Contracts for which counterparty credit spreads are observable and reliable, or for which the credit-related inputs are determined not to be significant to fair value, are classified as Level 2. Exchange-traded options and futures are classified as Level 1. If a determination of fair value requires significant unobservable input, they are classified as Level 3.

Underlying funds Investments in underlying funds that are ETFs , mutual funds or SLI Global SICAV Global Absolute Return Strategies Fund are classified as Level 1, as they are actively redeemable and reliable prices are observable. Investments in underlying funds that are pooled funds are classified as Level 2.

Fair value hierarchy The following table summarizes the inputs used in valuing the Funds’ financial instruments carried at fair value.

As at December 31, 2018 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total

Manulife Asset Management Money Market Pooled Fund Bonds - 3,406 - 3,406 - 4,873 - 4,873 Short-term - 30,882 - 30,882 - 9,119 - 9,119 Manulife Asset Management US Money Market Pooled Fund Short-term - 260 - 260 - 249 - 249

277 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

As at December 31, 2018 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total

Manulife Asset Management Canadian Bond Index Pooled Fund Bonds - 1,105,496 - 1,105,496 - 1,126,048 - 1,126,048 Short-term - 1,000 - 1,000 - 1,050 - 1,050 Manulife Asset Management Canadian Core Fixed Income Pooled Fund Bonds - 502,348 - 502,348 - 526,460 - 526,460 Short-term - 450 - 450 - 1,698 - 1,698 Derivative Assets - 71 - 71 229 115 - 344 Derivative Liabilities (449) (386) - (835) (5) (56) - (61) Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund Bonds - 936,533 - 936,533 - 981,023 - 981,023 Short-term - 1,610 - 1,610 - 8,699 - 8,699 Derivative Assets - 72 - 72 146 290 - 436 Derivative Liabilities (405) (463) - (868) - (186) - (186) Manulife Asset Management Canadian Core Plus Fixed Income Pooled Fund Equities 73 - - 73 132 - - 132 Bonds - 79,927 - 79,927 - 84,797 - 84,797 Short-term - 4,109 - 4,109 - 730 - 730 Derivative Assets - 52 - 52 43 174 - 217 Derivative Liabilities (163) (810) - (973) - (91) - (91) Manulife Asset Management Canadian Corporate Fixed Income Pooled Fund Bonds - 33,362 - 33,362 Short-term - 300 - 300 Derivative Assets - 3 - 3 Derivative Liabilities - (4) - (4) Manulife Asset Management Canadian Short Duration Fixed Income Pooled Fund Bonds - 23,825 - 23,825 - 22,917 - 22,917 Manulife Asset Management Short-Term Bond Pooled Fund Bonds - 55,618 - 55,618 - 37,636 - 37,636 Short-term - 440 - 440 - 390 - 390 Manulife Asset Management Short-Term Liability Government Bond Pooled Fund Bonds - 63,336 - 63,336 - 56,455 - 56,455 Manulife Asset Management Short-Term Liability Corporate Bond Pooled Fund Bonds - 13,547 - 13,547 - 11,192 - 11,192 Manulife Asset Management Mid-Term Liability Government Bond Pooled Fund Bonds - 180,670 - 180,670 - 181,972 - 181,972 Manulife Asset Management Mid-Term Liability Corporate Bond Pooled Fund Bonds - 82,020 - 82,020 - 59,362 - 59,362 Manulife Asset Management Long-Term Liability Government Bond Pooled Fund Bonds - 171,139 - 171,139 - 257,904 - 257,904 Manulife Asset Management Leveraged Liability Government Bond Pooled Fund Bonds - 29,538 - 29,538 Manulife Asset Management Ultra Long Duration Fixed Income Pooled Fund Bonds - 98,002 - 98,002 - 109,225 - 109,225 Short-term - - - - - 950 - 950 Derivative Assets - 11 - 11 30 6 - 36 Derivative Liabilities - (48) - (48) - - - - Manulife Asset Management Strategic Income Pooled Fund Equities 105,813 - - 105,813 117,720 - - 117,720 Bonds - 2,808,409 - 2,808,409 - 2,140,383 - 2,140,383 Short-term - - - - - 3,743 - 3,743 Derivative Assets - 31,541 - 31,541 1,747 41,097 - 42,844 Derivative Liabilities (1,863) (141,291) - (143,154) - (2,400) - (2,400)

278 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

As at December 31, 2018 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total

Manulife Asset Management Strategic Income (ex Tobacco and Marijuana) Pooled Fund Equities 3,301 - - 3,301 4,575 - - 4,575 Bonds - 95,767 - 95,767 - 89,698 - 89,698 Short-term - - - - - 1,084 - 1,084 Derivative Assets - 1,116 - 1,116 66 1,749 - 1,815 Derivative Liabilities (71) (4,777) - (4,848) - (101) - (101) Manulife Asset Management Emerging Markets Corporate Debt Pooled Fund Equities 79 - - 79 61 - - 61 Bonds - 114,666 - 114,666 - 29,238 - 29,238 Short-term - 21,164 - 21,164 - 723 - 723 Derivative Assets - 31 - 31 4 2 - 6 Derivative Liabilities - (22) - (22) - - - - Manulife Asset Management Emerging Markets Local Currency Debt Pooled Fund Bonds - 15,526 - 15,526 - 15,631 - 15,631 Derivative Assets - 11 - 11 - 4 - 4 Derivative Liabilities - (9) - (9) - - - - Manulife Asset Management Global Diversified Balanced Pooled Fund Short-term - 390 - 390 - - - - Mutual Funds 5,604 1,040 - 6,644 5,756 1,115 - 6,871 Exchange-Traded Funds 7,220 - - 7,220 6,585 - - 6,585 Derivative Assets - - - - - 46 - 46 Derivative Liabilities - (80) - (80) - - - - Manulife Asset Management Canadian Large Cap Growth Pooled Fund Equities 58,925 - - 58,925 81,944 - - 81,944 Short-term - 1,740 - 1,740 - 1,300 - 1,300 Manulife Asset Management Canadian Equity Index Pooled Fund Equities 643,318 - - 643,318 721,924 - - 721,924 Short-term - 15,699 - 15,699 - 15,973 - 15,973 Exchange-Traded Funds 7,147 - - 7,147 7,461 - - 7,461 Derivative Assets - - - - 100 - - 100 Derivative Liabilities (513) - - (513) - - - - Manulife Asset Management Canadian Core Equity Pooled Fund Equities 94,153 - - 94,153 21,322 - - 21,322 Short-term - 1,400 - 1,400 - 300 - 300 Manulife Asset Management Canadian Core Equity Focused Pooled Fund Equities 1,878 - - 1,878 Manulife Asset Management Capped Canadian Equity Pooled Fund Equities 58,953 - - 58,953 62,200 - - 62,200 Short-term - 770 - 770 - 590 - 590 Manulife Asset Management Canadian Value Equity Pooled Fund Equities 30,698 - - 30,698 36,713 - - 36,713 Short-term - 2,200 - 2,200 - 3,645 - 3,645 Manulife Asset Management Canadian All Cap Focused Equity Pooled Fund Equities 14,313 - - 14,313 1,675 - - 1,675 Manulife Asset Management US Large Cap Core Pooled Fund Equities 269,178 - - 269,178 378,325 - - 378,325 Manulife Asset Management US Equity Index Pooled Fund Equities 1,113,565 - - 1,113,565 1,270,443 - - 1,270,443 Short-term - 19,666 - 19,666 - 29,061 - 29,061 Derivative Assets - - - - 353 - - 353 Derivative Liabilities (717) - - (717) - - - -

279 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

As at December 31, 2018 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total

Manulife Asset Management US Equity Index Pooled Fund (Non-Taxable) Equities 683,475 - - 683,475 767,357 - - 767,357 Short-term - 25,061 - 25,061 - 23,797 - 23,797 Exchange-Traded Funds 1,927 - - 1,927 1,888 - - 1,888 Derivative Assets - - - - 48 - - 48 Derivative Liabilities (1,247) - - (1,247) - (27) - (27) Manulife Asset Management US Small Cap Value Pooled Fund Equities 3,519 - - 3,519 3,952 - - 3,952 Short-term - 184 - 184 - 160 - 160 Manulife Asset Management Emerging Markets Equity Pooled Fund Equities 12,858 - - 12,858 13,899 - - 13,899 Mutual Funds 430 - - 430 546 - - 546 Manulife Asset Management Global Focus Pooled Fund Equities 93,648 - - 93,648 53,480 - - 53,480 Manulife Asset Management Global Equity II Pooled Fund Equities 56,337 - - 56,337 110,613 - - 110,613 Derivative Liabilities - (32) - (32) - - - - Manulife Asset Management Global Equity Index Pooled Fund Short-term - 5,599 - 5,599 - 4,761 - 4,761 Mutual Funds - 49,667 - 49,667 - 39,104 - 39,104 Derivative Assets - - - - 224 - - 224 Derivative Liabilities (61) - - (61) - - - - Manulife Asset Management Global Natural Resources Pooled Fund Equities 1,664 - - 1,664 2,018 - - 2,018 Manulife Asset Management Global Energy Pooled Fund Equities 1,406 - - 1,406 1,824 - - 1,824 Manulife Asset Management Global Precious Metals Pooled Fund Equities 1,955 - - 1,955 2,098 - - 2,098 Exchange-Traded Funds 22 - - 22 14 - - 14 Manulife Asset Management Global Small Cap Equity Pooled Fund Equities 9,423 - - 9,423 7,955 - - 7,955 Short-term - 334 - 334 - 73 - 73 Manulife Asset Management International Equity Index Pooled Fund Equities 657,864 - - 657,864 504,499 - - 504,499 Short-term - 16,935 - 16,935 - 9,647 - 9,647 Derivative Assets - - - - 272 - - 272 Derivative Liabilities (600) - - (600) - - - - Manulife Asset Management Target De-Risking 80 Pooled Fund Mutual Funds - 29,231 - 29,231 - 34,793 - 34,793 Manulife Asset Management Target De-Risking 90 Pooled Fund Mutual Funds - 29,891 - 29,891 - 35,839 - 35,839 Manulife Asset Management Target De-Risking 100 Pooled Fund Mutual Funds - 551 - 551 - 176 - 176 Manulife Asset Management Target De-Risking 105 Young Pooled Fund Mutual Funds - 4,356 - 4,356 - 4,347 - 4,347 Manulife Asset Management Target De-Risking 105 Average Pooled Fund Mutual Funds - 1,571 - 1,571 - 7,789 - 7,789 Manulife Asset Management Target De-Risking 105 Mature Pooled Fund Mutual Funds - 9 - 9 - 822 - 822 Manulife Asset Management Global Opportunistic Allocation Pooled Fund Short-term - 4 - 4 - 6 - 6 Exchange-Traded Funds 431 - - 431 412 - - 412 Manulife Asset Management Global Absolute Return Strategies Pooled Fund Mutual Funds 70,587 - - 70,587 198,920 - - 198,920 Manulife Asset Management Global Absolute Return Strategies Private Pooled Fund Mutual Funds 33,616 - - 33,616 158,315 - - 158,315

280 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

As at December 31, 2018 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total

Manulife Asset Management S&P / TSX 60 Pooled Fund II Equities 367,623 - - 367,623 454,041 - - 454,041 Short-term - 19,389 - 19,389 - 24,263 - 24,263 Exchange-Traded Funds 352 - - 352 393 - - 393 Derivative Assets - - - - 77 439 - 516 Derivative Liabilities (131) (1,809) - (1,940) - - - - Manulife Real Asset Fund Equities - 4,634 - 4,634 - - - - Bonds - 3,047 - 3,047 - 2,688 - 2,688 Short-term - 341 - 341 - 438 - 438 Mutual Funds - 26,341 - 26,341 - 25,188 - 25,188 Exchange-Traded Funds 6,599 - - 6,599 5,301 - - 5,301 Derivative Assets - 11 - 11 - 153 - 153 Derivative Liabilities - (396) - (396) - (10) - (10) Fonds Manuvie - HEC Equities 1,615 - - 1,615 1,807 - - 1,807 Bonds - 812 - 812 - 827 - 827 Short-term - 150 - 150 - - - -

Transfers between levels

There were no significant transfers between levels during the years ended December 31, 2018 and 2017.

4. UNITS OF THE FUNDS

Units issued and outstanding represent the capital of each Fund. Each Fund is authorized to issue an unlimited number of units with no par value in each series, which are redeemable at the option of the unitholder in accordance with the provisions of the Declaration of Trust and applicable regulation, at their current NAVPU.

Each Fund has a contractual obligation to repurchase or redeem its units for cash or another financial asset and as such, the outstanding units are classified as a financial liability. Unitholders are entitled to distributions when declared. Distributions on units of each series are reinvested in additional units of the same series or, at the option of the unitholders, paid in cash. The Funds have no restrictions or specific capital requirements other than the minimum subscription requirements. Changes in each Fund’s units during the years are disclosed in the Statements of Changes in Net Assets Attributable to Unitholders. The Funds endeavour to invest the proceeds received from subscriptions in appropriate investments in conjunction with their investment objectives while remaining in compliance with regulatory requirements. The Funds maintain sufficient liquidity to meet redemptions, such liquidity being augmented by short-term borrowings or disposal of investments where necessary.

5. TAXATION

As at December 31, 2018, the following Funds are considered to be financial institutions under the Income Tax Act (Canada) (the Act) and are therefore subject to the mark-to-market rules with respect to their investments that qualify as ’mark to market property’ under the Act. As a result, all realized gains and losses, and changes in unrealized gains and losses, with respect to mark-to-market property are taxed as income on a yearly basis. The Funds, except for Manulife Asset Management S&P/TSX 60 Pooled Fund II and Manulife Real Asset Fund due to their partnership structure, are not subject to tax on their net income. In accordance with the Funds’ Declarations of Trust, the Funds intend to pay out sufficient income and net capital gains so that they will not be liable for tax under Part I of the Act. Accordingly, the Funds do not record income tax provisions. Any tax benefit of capital and non-capital losses, where applicable, has not been reflected as a deferred income tax asset in the Statements of Financial Position. No provision for income taxes has been recorded for Manulife Asset Management S&P/TSX 60 Pooled Fund II and Manulife Real Asset Fund as they are limited partnerships and their annual income (loss) is allocated to their partners, who are responsible for any income taxes applicable thereto.

Financial Institutions

Manulife Asset Management US Money Market Pooled Fund Manulife Asset Management Emerging Markets Equity Pooled Fund Manulife Asset Management Short-Term Liability Corporate Bond Pooled Manulife Asset Management Global Natural Resources Pooled Fund Fund Manulife Asset Management Global Energy Pooled Fund Manulife Asset Management Leveraged Liability Government Bond Pooled Manulife Asset Management Global Precious Metals Pooled Fund Fund Manulife Asset Management Target De-Risking 105 Mature Pooled Fund Manulife Asset Management Global Opportunistic Allocation Pooled Fund Manulife Asset Management Emerging Markets Local Currency Debt Manulife Asset Management S&P / TSX 60 Pooled Fund II Pooled Fund Fonds Manuvie - HEC Manulife Asset Management Canadian Core Equity Focused Pooled Fund Manulife Asset Management US Small Cap Value Pooled Fund

281 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Capital losses realized by the Funds may be carried forward indefinitely and used to reduce future taxable capital gains. Non-capital losses may be used to reduce future taxable income and capital gains, and can be carried forward for up to twenty years. The following table summarizes capital and non-capital tax loss carry-forwards, if any.

As at December 31, 2018 2017

Capital Non capital Expiry Capital Non capital Expiry losses losses date losses losses date

Manulife Asset Management Money Market Pooled Fund 112 - 103 - Manulife Asset Management Canadian Bond Index Pooled Fund 8,063 - 1,774 - Manulife Asset Management Canadian Core Fixed Income Pooled Fund 3,209 - 915 - Manulife Asset Management Canadian Core Plus Fixed Income Pooled Fund 1,459 - - - Manulife Asset Management Canadian Corporate Fixed Income Pooled Fund 10 - - - Manulife Asset Management Canadian Short Duration Fixed Income Pooled Fund 937 - 558 - Manulife Asset Management Short-Term Bond Pooled Fund 1,328 - 619 - Manulife Asset Management Short-Term Liability Government Bond Pooled Fund 1,127 - 738 - Manulife Asset Management Mid-Term Liability Government Bond Pooled Fund 732 - - - Manulife Asset Management Mid-Term Liability Corporate Bond Pooled Fund 76 - - - Manulife Asset Management Long-Term Liability Government Bond Pooled Fund 1,023 - - - Manulife Asset Management Strategic Income Pooled Fund 35,491 - - - Manulife Asset Management Strategic Income (ex Tobacco and Marijuana) Pooled Fund 2,235 - 1,110 - Manulife Asset Management Emerging Markets Corporate Debt Pooled Fund -- 33- Manulife Asset Management Canadian Core Equity Focused Pooled Fund - 114 2038 - - Manulife Asset Management Canadian Value Equity Pooled Fund - - - 128 2028 - - - 104 2029 Manulife Asset Management Canadian All Cap Focused Equity Pooled Fund 56 6 2037 - - Manulife Asset Management US Small Cap Value Pooled Fund - 28 2037 - 28 2037 - 498 2038 - - Manulife Asset Management Emerging Markets Equity Pooled Fund - 1,267 2038 - - Manulife Asset Management Global Natural Resources Pooled Fund - 89 2035 - 89 2035 - 40 2037 - 40 2037 - 360 2038 - - Manulife Asset Management Global Energy Pooled Fund - 205 2035 - 205 2035 - 234 2037 - 234 2037 - 354 2038 - - Manulife Asset Management Global Precious Metals Pooled Fund - 99 2037 - 99 2037 - 269 2038 - - Manulife Asset Management Global Small Cap Equity Pooled Fund 1- -- Manulife Asset Management Target De-Risking 100 Pooled Fund 104 - 110 - Manulife Asset Management Target De-Risking 105 Mature Pooled Fund 21 22 2038 - - Manulife Asset Management Global Absolute Return Strategies Pooled Fund - 5 2031 - 8 2031

282 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

As at December 31, 2018 2017

Capital Non capital Expiry Capital Non capital Expiry losses losses date losses losses date

- 31 2032 - 31 2032 - 63 2035 - 63 2035 Manulife Asset Management Global Absolute Return Strategies Private Pooled Fund 3,192 - 1,064 - Fonds Manuvie - HEC - 113 2038 - -

6. RELATED PARTY TRANSACTIONS

The Manager is responsible for the overall operations of the Funds and provides administrative services to the Funds including, but not limited to, reporting the NAV of the Funds and their units, preparing all offering documents for the Funds, and providing all services relating to issuing, and redeeming units of the Funds. Manulife Asset Management Investments Inc., a wholly owned subsidiary of the Manager, is the Funds’ principal distributor. The Manager is also responsible for all investment advice provided to the Funds including providing investment analysis and recommendations, making investment decisions and arranging for the acquisition and disposition of portfolio investments including all necessary brokerage arrangements. Fees for providing these investment management services are included in the management fee.

Manulife Asset Management (Hong Kong) Limited, Manulife Asset Management (Europe) Limited and Manulife Asset Management (US) LLC are each indirect subsidiaries of MFC. Each is paid investment sub-advisory fees by the Manager for the active management of the applicable Funds. Manulife Securities Investment Services Inc., and Manulife Securities Incorporated, subsidiaries of MFC, may also distribute units of the Funds in the normal course of business. As such, they may receive commission and trailer fees from the Manager.

Each Fund is responsible for the payment of all expenses relating to the operation of the Fund. Operating expenses include audit, legal, transfer agent, custodian, independent review committee fees and any applicable taxes. Expenses incurred by the Manager in providing administration services are charged to the Funds.

The Manager has absorbed certain operating expenses of the Funds and may discontinue absorbing these expenses at any time without notice. The amount of absorbed expenses has been reflected in the Statements of Comprehensive Income.

The related parties’ investments in the Funds are as follows:

As at December 31, 2018 2017

%ofNAV %ofNAV Fair value of the Fund Fair value of the Fund

Manulife Asset Management Money Market Pooled Fund 11,061 32.2 49 0.4 Manulife Asset Management US Money Market Pooled Fund 258 100.0 253 100.0 Manulife Asset Management Canadian Bond Index Pooled Fund 1,110,749 100.0 1,131,850 100.0 Manulife Asset Management Canadian Core Fixed Income Pooled Fund 444,194 87.5 473,770 88.6 Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund 712,772 75.2 787,539 78.0 Manulife Asset Management Canadian Core Plus Fixed Income Pooled Fund 27,341 32.7 30,446 35.1 Manulife Asset Management Canadian Corporate Fixed Income Pooled Fund 33,972 100.0 - - Manulife Asset Management Canadian Short Duration Fixed Income Pooled Fund 809 3.4 384 1.7 Manulife Asset Management Short-Term Bond Pooled Fund 55,938 99.1 38,062 98.7 Manulife Asset Management Short-Term Liability Government Bond Pooled Fund 55,433 87.0 46,188 81.1 Manulife Asset Management Short-Term Liability Corporate Bond Pooled Fund 10,744 78.6 7,663 67.7 Manulife Asset Management Mid-Term Liability Government Bond Pooled Fund 106,588 58.7 101,085 55.3 Manulife Asset Management Mid-Term Liability Corporate Bond Pooled Fund 23,707 28.6 757 1.3 Manulife Asset Management Long-Term Liability Government Bond Pooled Fund 84,677 49.3 140,777 54.4 Manulife Asset Management Leveraged Liability Government Bond Pooled Fund 10,095 100.0 - - Manulife Asset Management Ultra Long Duration Fixed Income Pooled Fund 98,918 100.0 110,443 100.0 Manulife Asset Management Strategic Income Pooled Fund 2,042,240 68.9 1,749,706 71.8 Manulife Asset Management Emerging Markets Corporate Debt Pooled Fund 137,952 100.0 30,784 100.0 Manulife Asset Management Emerging Markets Local Currency Debt Pooled Fund 16,151 100.0 16,118 100.0 Manulife Asset Management Global Diversified Balanced Pooled Fund 1,046 7.3 1,065 7.6 Manulife Asset Management Canadian Large Cap Growth Pooled Fund 60,957 100.0 70,099 84.1

283 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

As at December 31, 2018 2017

%ofNAV %ofNAV Fair value of the Fund Fair value of the Fund

Manulife Asset Management Canadian Equity Index Pooled Fund 671,974 100.0 746,511 100.0 Manulife Asset Management Canadian Core Equity Pooled Fund 66,526 69.4 21,692 100.0 Manulife Asset Management Canadian Core Equity Focused Pooled Fund 1,889 100.0 - - Manulife Asset Management Canadian Value Equity Pooled Fund 14,724 44.4 19,445 48.0 Manulife Asset Management Canadian All Cap Focused Equity Pooled Fund 2,459 16.9 1,741 100.0 Manulife Asset Management US Large Cap Core Pooled Fund 226,473 80.6 316,562 82.8 Manulife Asset Management US Equity Index Pooled Fund 1,136,849 100.0 1,304,343 100.0 Manulife Asset Management US Equity Index Pooled Fund (Non-Taxable) 643,859 90.1 679,023 86.0 Manulife Asset Management US Small Cap Value Pooled Fund 3,611 100.0 4,109 100.0 Manulife Asset Management Emerging Markets Equity Pooled Fund 13,365 100.0 14,689 100.0 Manulife Asset Management Global Focus Pooled Fund 106,381 100.0 57,505 100.0 Manulife Asset Management Global Equity II Pooled Fund 2,468 4.2 2,518 2.2 Manulife Asset Management Global Equity Index Pooled Fund 56,650 100.0 44,260 100.0 Manulife Asset Management Global Natural Resources Pooled Fund 1,676 100.0 2,017 100.0 Manulife Asset Management Global Energy Pooled Fund 1,405 100.0 1,825 100.0 Manulife Asset Management Global Precious Metals Pooled Fund 1,977 100.0 2,186 100.0 Manulife Asset Management Global Small Cap Equity Pooled Fund 9,753 100.0 8,123 100.0 Manulife Asset Management International Equity Index Pooled Fund 649,541 94.8 524,055 100.0 Manulife Asset Management Target De-Risking 80 Pooled Fund 29,250 100.0 34,782 100.0 Manulife Asset Management Target De-Risking 90 Pooled Fund 29,921 100.0 35,838 100.0 Manulife Asset Management Target De-Risking 100 Pooled Fund 547 100.0 177 100.0 Manulife Asset Management Target De-Risking 105 Young Pooled Fund 4,366 100.0 4,358 100.0 Manulife Asset Management Target De-Risking 105 Average Pooled Fund 1,570 100.0 7,801 100.0 Manulife Asset Management Target De-Risking 105 Mature Pooled Fund 1 100.0 826 100.0 Manulife Asset Management Global Opportunistic Allocation Pooled Fund 429 100.0 419 100.0 Manulife Asset Management S&P / TSX 60 Pooled Fund II 279,263 72.3 328,593 69.5 Manulife Real Asset Fund 6-5- Fonds Manuvie - HEC 2,633 100.0 2,765 100.0

7. TRANSACTION COSTS AND SOFT DOLLAR COMMISSIONS

Transaction costs paid on the purchase and sale of securities are expensed and are reflected in the Statements of Comprehensive Income for financial reporting purposes. In allocating brokerage business, consideration may be given by the investment managers of the Funds to dealers that provide research, statistical, and other services to investment managers (referred to as “soft dollar” arrangements). These services assist the portfolio advisor with their investment decision making for the Funds. The soft dollar commissions paid to brokers in connection with investment portfolio transactions, if applicable, are provided in the following table:

As at December 31 2018 2017

Manulife Asset Management Canadian Large Cap Growth Pooled Fund -2

8. OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES

As at December 31, 2018 and 2017, the Funds, where applicable, were subject to International Swaps and Derivatives Association master netting arrangements with their derivative counterparties. All of the derivative assets and liabilities of the Funds, where applicable, are held with these counterparties and the margin balance maintained by the Funds is for the purpose of providing collateral on derivative positions. Each party has the option to settle all open contracts on a net basis in the event of default of the other party, such as failure to pay or deliver; misrepresentation or breach of agreement; or bankruptcy.

284 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

The following table presents the Funds’ financial assets and liabilities subject to offsetting, enforceable master netting arrangements and similar agreements. The table is presented by type of financial instrument and shows the net impact on the Fund’s Statements of Financial Position if all set-off rights were exercised.

As at December 31, 2018 2017 Amounts eligible for offset Amounts eligible for offset Gross Gross assets/ Financial Collateral assets/ Financial Collateral (liabilities) instruments received/(paid) Net (liabilities) instruments received/(paid) Net

Manulife Asset Management Canadian Core Fixed Income Pooled Fund Derivative assets Forward foreign currency 71 (71) - - 115 - - 115 Total 71 (71) - - 115 - - 115 Derivative liabilities Forward foreign currency (386) 71 - (315) (56) - - (56) Total (386) 71 - (315) (56) - - (56) Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund Derivative assets Forward foreign currency 72 (72) - - 290 - - 290 Total 72 (72) - - 290 - - 290 Derivative liabilities Forward foreign currency (463) 72 - (391) (186) - - (186) Total (463) 72 - (391) (186) - - (186) Manulife Asset Management Canadian Core Plus Fixed Income Pooled Fund Derivative assets Forward foreign currency 52 (2) - 50 174 (2) - 172 Total 52 (2) - 50 174 (2) - 172 Derivative liabilities Forward foreign currency (810) 2 - (808) (91) 2 - (89) Total (810) 2 - (808) (91) 2 - (89) Manulife Asset Management Canadian Corporate Fixed Income Pooled Fund Derivative assets Forward foreign currency 3 - - 3 Total 3 - - 3 Derivative liabilities Forward foreign currency (4) - - (4) Total (4) - - (4) Manulife Asset Management Ultra Long Duration Fixed Income Pooled Fund Derivative assets Forward foreign currency 11 - - 11 6 - - 6 Total 11 - - 11 6 - - 6 Derivative liabilities Forward foreign currency (48) - - (48) - - - - Total (48) - - (48) - - - - Manulife Asset Management Strategic Income Pooled Fund Derivative assets Forward foreign currency 31,541 (28,177) - 3,364 41,097 (751) - 40,346 Total 31,541 (28,177) - 3,364 41,097 (751) - 40,346 Derivative liabilities Forward foreign currency (141,291) 28,177 - (113,114) (2,400) 751 - (1,649) Total (141,291) 28,177 - (113,114) (2,400) 751 - (1,649)

285 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Manulife Asset Management Strategic Income (ex Tobacco and Marijuana) Pooled Fund Derivative assets Forward foreign currency 1,116 (858) - 258 1,749 (30) - 1,719 Total 1,116 (858) - 258 1,749 (30) - 1,719 Derivative liabilities Forward foreign currency (4,777) 858 - (3,919) (101) 30 - (71) Total (4,777) 858 - (3,919) (101) 30 - (71) Manulife Asset Management Emerging Markets Corporate Debt Pooled Fund Derivative assets Forward foreign currency 31 (22) - 9 2 - - 2 Total 31 (22) - 9 2 - - 2 Derivative liabilities Forward foreign currency (22) 22 ------Total (22) 22 ------Manulife Asset Management Emerging Markets Local Currency Debt Pooled Fund Derivative assets Forward foreign currency 11 (7) - 4 4 - - 4 Total 11 (7) - 4 4 - - 4 Derivative liabilities Forward foreign currency (9) 7 - (2) - - - - Total (9) 7 - (2) - - - - Manulife Asset Management Global Diversified Balanced Pooled Fund Derivative assets Forward foreign currency - - - - 46 - - 46 Total - - - - 46 - - 46 Derivative liabilities Forward foreign currency (80) - - (80) - - - - Total (80) - - (80) - - - - Manulife Asset Management US Equity Index Pooled Fund (Non-Taxable) Derivative liabilities Forward foreign currency - - - - (27) - - (27) Total - - - - (27) - - (27) Manulife Asset Management Global Equity II Pooled Fund Derivative liabilities Forward foreign currency (32) - - (32) - - - - Total (32) - - (32) - - - - Manulife Asset Management S&P / TSX 60 Pooled Fund II Derivative assets Swaps - - - - 439 - - 439 Total - - - - 439 - - 439 Derivative liabilities Swaps (1,809) - - (1,809) - - - - Total (1,809) - - (1,809) - - - -

286 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Manulife Real Asset Fund Derivative assets Forward foreign currency 11 - - 11 153 (10) - 143 Total 11 - - 11 153 (10) - 143 Derivative liabilities Forward foreign currency (396) - - (396) (10) 10 - - Total (396) - - (396) (10) 10 - -

9. INVESTMENTS IN ASSOCIATES, SUBSIDIARIES AND STRUCTURED ENTITIES

The Funds consider all of their investments in underlying funds to be investments in unconsolidated structured entities.

The purpose of the underlying fund(s) is to invest funds solely for returns from capital appreciation, investment income, or both.

The underlying funds finance their operations by issuing redeemable units which are puttable at the holder’s option and entitles the holder to a proportional stake in the respective underlying fund’s net assets. The Funds hold redeemable units in each of their underlying funds. The carrying amount of the Funds’ interests in the underlying fund(s) is recognized in investments, at fair value in the Statements of Financial Position. The carrying amount of the Funds’ interests in the underlying fund(s) is equal to the maximum exposure to loss. The change in fair value of each underlying fund is included in change in unrealized appreciation (depreciation) in the value of investments in the Statements of Comprehensive Income.

The Funds’ investments in underlying funds are subject to the terms and conditions of the respective underlying funds’ offering documents and are susceptible to market price risk arising from uncertainties about future values of those underlying funds.

The Funds have the right to request redemption of its investment in an underlying fund on a daily basis. Once the Funds have disposed of units of an underlying fund, the Funds cease to be exposed to any risk from that underlying fund.

Certain Funds may invest in ETFs. The Manager has determined that ETFs are unconsolidated structured entities. An ETF is an investment fund traded on a stock exchange. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its NAV over the course of the trading day. Most ETFs track an index, such as a stock index or bond index. ETFs finance their operations by issuing redeemable units which are puttable at the holders’ option and entitles the holder to a proportionate stake in the ETF’s assets. The fair value of the ETFs represents the maximum exposure to losses at each year end.

Certain Funds may invest in mortgage-related and other asset-backed securities. These securities include mortgage pass-through securities, collateralized mortgage obligations, commercial mortgage-backed securities, asset-backed securities, collateralized debt obligations and other securities that directly or indirectly represent a participation in, or are secured by and payable from, mortgage loans on real property or other types of loans. The Manager has determined that issuers of such securities are also unconsolidated structured entities. The debt and equity securities issued by these issuers may include tranches with varying levels of subordination. These securities may provide a monthly payment which consists of both interest and principal payments.

Mortgage-related securities are created from pools of residential or commercial mortgage loans, including mortgage loans made by savings and loan institutions, mortgage bankers, commercial banks and others. Asset-backed securities are created from many types of assets, including auto loans, credit card receivables, home equity loans, and student loans. The fair value of mortgage-related and other asset-backed securities are listed in the Schedule of Investment Portfolio of each Fund, as applicable. This amount represents the maximum exposure to losses at each year end. All investments in underlying funds that are structured entities are disclosed in the table below.

As at December 31, 2018 2017 Fair value of Fair value of Net assets of investment in Net assets of investment in Underlying fund name underlying fund underlying fund underlying fund underlying fund

Manulife Asset Management Global Diversified Balanced Pooled Fund Invesco Senior Loan ETF 7,347,540 754 - - iShares 1-5 Year Laddered Corporate Bond Index ETF 1,099,270 144 1,551,140 274 iShares Core MSCI Emerging Markets ETF 67,115,002 726 53,683,520 832 iShares Core S&P/TSX Capped Composite Index ETF - - 4,191,420 287 iShares JP Morgan USD Emerging Markets Bond ETF - - 15,375,952 96 iShares MSCI Finland ETF - - 56,800 142 iShares MSCI Switzerland ETF 1,130,063 291 - - iShares S&P/TSX Capped Energy Index ETF 795,520 548 - -

287 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

As at December 31, 2018 2017 Fair value of Fair value of Net assets of investment in Net assets of investment in Underlying fund name underlying fund underlying fund underlying fund underlying fund

iShares S&P/TSX Capped REIT Index ETF 1,153,170 147 1,384,450 140 Manulife Asset Management Canadian Large Cap Growth Pooled Fund 60,957 607 83,382 657 Manulife Asset Management US Large Cap Core Pooled Fund 281,099 433 382,192 458 Manulife Bond Fund, Series O 1,574,160 2,145 1,483,568 2,121 Manulife Corporate Bond Fund, Series O 777,764 606 854,206 614 Manulife Fundamental Equity Fund, Series O 863,156 602 557,633 608 Manulife International Value Equity Fund, Series O 279,597 603 410,635 683 Manulife Strategic Income Fund, Series O 8,068,990 1,127 9,382,984 1,134 Manulife U.S. All Cap Equity Fund, Series O 1,535,448 521 1,739,764 596 PowerShares International Corporate Bond Portfolio - - 203,956 273 SPDR Barclays High Yield Bond ETF 9,222,414 276 15,919,983 251 VanEck Vectors J.P. Morgan EM Local Currency Bond ETF 6,297,499 622 - - Vanguard Canadian Aggregate Bond Index ETF 1,588,550 562 1,325,200 1,042 Vanguard Consumer Staples ETF 5,450,539 429 - - Vanguard Extended Market ETF - - 7,156,625 146 Vanguard Financials ETF - - 9,171,832 138 Vanguard FTSE Developed Markets ETF 88,735,889 193 85,772,572 368 Vanguard FTSE Europe ETF - - 23,050,271 344 Vanguard Health Care ETF 11,322,769 305 8,981,496 99 Vanguard Information Technology ETF 23,689,391 359 21,577,303 160 Vanguard S&P 500 ETF 123,700,369 387 104,991,321 525 Vanguard Short-Term Corporate Bond ETF 27,629,315 335 27,168,341 313 Vanguard Total Bond Market ETF 49,897,454 848 46,719,373 1,155 Vanguard Utilities ETF 3,970,203 294 - - Manulife Asset Management Canadian Equity Index Pooled Fund iShares Core S&P/TSX Capped Composite Index ETF 4,227,550 7,147 4,191,420 7,461 Manulife Asset Management US Equity Index Pooled Fund (Non-Taxable) SPDR S&P 500 ETF Trust 327,936,775 1,927 340,441,550 1,888 Manulife Asset Management Emerging Markets Equity Pooled Fund India Fund, Inc. 845,430 430 888,700 546 Manulife Asset Management Global Equity Index Pooled Fund Manulife Asset Management Canadian Equity Index Pooled Fund 671,974 1,682 746,511 1,393 Manulife Asset Management International Equity Index Pooled Fund 685,191 17,568 524,055 14,486 Manulife Asset Management US Equity Index Pooled Fund 1,136,849 30,417 1,304,343 23,225 Manulife Asset Management Global Precious Metals Pooled Fund iShares Gold Bullion ETF 311,220 22 349,060 14 Manulife Asset Management Target De-Risking 80 Pooled Fund Manulife Asset Management Canadian Equity Index Pooled Fund 671,974 9,303 746,511 11,464 Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund 947,306 10,131 1,009,899 11,218 Manulife Asset Management International Equity Index Pooled Fund 685,191 4,777 524,055 6,226 Manulife Asset Management US Equity Index Pooled Fund 1,136,849 5,020 1,304,343 5,885 Manulife Asset Management Target De-Risking 90 Pooled Fund Manulife Asset Management Canadian Equity Index Pooled Fund 671,974 7,117 746,511 8,956 Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund 947,306 14,881 1,009,899 16,909 Manulife Asset Management International Equity Index Pooled Fund 685,191 3,841 524,055 5,142 Manulife Asset Management US Equity Index Pooled Fund 1,136,849 4,052 1,304,343 4,832 Manulife Asset Management Target De-Risking 100 Pooled Fund Manulife Asset Management Canadian Equity Index Pooled Fund 671,974 92 746,511 32 Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund 947,306 365 1,009,899 112 Manulife Asset Management International Equity Index Pooled Fund 685,191 47 524,055 17 Manulife Asset Management US Equity Index Pooled Fund 1,136,849 47 1,304,343 15 Manulife Asset Management Target De-Risking 105 Young Pooled Fund Manulife Asset Management Canadian Equity Index Pooled Fund 671,974 311 746,511 335

288 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

As at December 31, 2018 2017 Fair value of Fair value of Net assets of investment in Net assets of investment in Underlying fund name underlying fund underlying fund underlying fund underlying fund

Manulife Asset Management International Equity Index Pooled Fund 685,191 179 524,055 188 Manulife Asset Management Ultra Long Duration Fixed Income Pooled Fund 98,918 3,691 110,443 3,658 Manulife Asset Management US Equity Index Pooled Fund 1,136,849 175 1,304,343 166 Manulife Asset Management Target De-Risking 105 Average Pooled Fund Manulife Asset Management Canadian Equity Index Pooled Fund 671,974 102 746,511 625 Manulife Asset Management Canadian Long Duration Fixed Income Pooled Fund 947,306 1,317 1,009,899 6,503 Manulife Asset Management International Equity Index Pooled Fund 685,191 77 524,055 347 Manulife Asset Management US Equity Index Pooled Fund 1,136,849 75 1,304,343 314 Manulife Asset Management Target De-Risking 105 Mature Pooled Fund Manulife Asset Management Canadian Core Fixed Income Pooled Fund 507,859 8 535,032 682 Manulife Asset Management Canadian Equity Index Pooled Fund 671,974 1 746,511 69 Manulife Asset Management International Equity Index Pooled Fund 685,191 - 524,055 37 Manulife Asset Management US Equity Index Pooled Fund 1,136,849 - 1,304,343 34 Manulife Asset Management Global Opportunistic Allocation Pooled Fund Financial Select Sector SPDR Fund 31,279,005 10 41,021,207 15 Invesco DB Gold Fund 129,611 13 - - Invesco Senior Loan ETF 7,347,540 9 - - iShares Core MSCI EAFE ETF 71,408,121 66 52,847,677 68 iShares Core MSCI Emerging Markets ETF 67,115,002 30 53,683,520 31 iShares iBoxx $ Investment Grade Corporate Bond ETF 40,587,205 5 49,028,184 36 iShares JP Morgan USD Emerging Markets Bond ETF 19,485,595 4 15,375,952 19 iShares MSCI Japan Small-Cap ETF - - 379,897 3 PowerShares Senior Loan Portfolio - - 9,890,161 11 SPDR Bloomberg Barclays High Yield Bond ETF 9,222,414 9 15,919,983 6 SPDR Bloomberg Barclays 1-3 Month T-Bill ETF 11,841,363 38 - - SPDR Bloomberg Barclays International Treasury Bond ETF 1,580,039 52 1,909,308 47 SPDR Bloomberg Barclays Short Term International Treasury Bond ETF 402,529 27 285,738 19 SPDR S&P 500 ETF Trust 327,936,775 63 340,441,550 86 VanEck Vectors J.P. Morgan EM Local Currency Bond ETF 6,297,499 17 5,888,176 9 Vanguard Consumer Discretionary ETF - - 3,000,915 6 Vanguard Consumer Staples ETF 5,450,539 6 - - Vanguard Energy ETF - - 5,169,784 2 Vanguard Extended Market ETF 8,614,210 4 7,156,625 11 Vanguard Health Care ETF 11,322,769 11 - - Vanguard Information Technology ETF 23,689,391 10 21,577,303 17 Vanguard REIT ETF 38,006,526 4 - - Vanguard Short-Term Corporate Bond ETF 27,629,315 22 27,168,341 4 Vanguard Telecommunication Services ETF - - 1,377,882 2 Vanguard Total Bond Market ETF 49,897,454 22 46,719,373 12 Vanguard Utilities ETF 3,970,203 9 - - WisdomTree Japan Hedged Equity Fund - - 11,853,120 8 Manulife Asset Management Global Absolute Return Strategies Pooled Fund SLI Global SICAV Global Absolute Return Strategies Fund Cl. Z 4,079,228 70,587 9,939,502 198,920 Manulife Asset Management Global Absolute Return Strategies Private Pooled Fund SLI Global SICAV Global Absolute Return Strategies Fund Cl. Z 4,079,228 33,616 9,939,502 158,315 Manulife Asset Management S&P / TSX 60 Pooled Fund II iShares S&P/TSX 60 Index ETF 8,773,400 352 11,099,300 393 Manulife Real Asset Fund BMO Equal Weight REITs Index ETF 494,508 193 487,203 419 BMO Floating Rate High Yield ETF 360,847 101 516,570 119 Energy Select Sector SPDR Fund 18,350,342 141 22,731,771 207 Invesco DB Agriculture Fund 675,592 14 - -

289 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

As at December 31, 2018 2017 Fair value of Fair value of Net assets of investment in Net assets of investment in Underlying fund name underlying fund underlying fund underlying fund underlying fund

Invesco DB Commodity Index Tracking Fund 2,647,958 79 - - Invesco DB Energy Fund 125,731 107 - - iShares 1-5 year Laddered Government Bond Index ETF 697,968 222 798,775 68 iShares Global Infrastructure ETF 3,356,194 161 2,889,578 336 iShares S&P/TSX Capped Energy Index ETF 795,520 41 1,030,680 33 iShares S&P/TSX Capped REIT Index ETF 1,153,170 205 1,384,450 180 iShares U.S. Oil & Gas Exploration & Production ETF 440,727 117 431,376 139 JP Morgan IIF Canadian 2 LP 7,572,408 4,253 8,919,708 2,506 Manulife Asset Management Canadian Bond Index Pooled Fund 1,110,749 141 1,131,850 535 Manulife Canadian Commercial Mortgage Fund, Series X 59,567 7,486 58,328 7,344 Manulife Canadian Private Debt Fund, Series X 270,080 7,874 192,964 7,675 Manulife Canadian Property Portfolio, Series X 954,081 10,840 804,516 9,634 Materials Select Sector SPDR Fund - - 6,175,264 206 PowerShares DB Agriculture Fund - - 803,884 16 PowerShares DB Commodity Index Tracking Fund - - 2,830,364 101 PowerShares DB Energy Fund - - 222,107 168 SPDR Gold Shares 44,348,482 297 43,937,323 102 SPDR S&P Global Natural Resources ETF 1,658,791 77 1,721,503 595 Vanguard Canadian Short-Term Corporate Bond Index ETF 27,629,315 303 1,306,000 66 Vanguard Global ex-U.S. Real Estate ETF 7,133,396 30 7,086,710 31 Vanguard REIT ETF 38,006,526 258 43,522,722 9

10. SECURITIES LENDING

Collateral held is in the form of securities of or guaranteed by the Government of Canada, Canadian provincial and municipal governments, or by the United States government, or by other governments with appropriate credit ratings, or by a Canadian financial institution, but may include commercial paper with an approved credit rating and/or convertible securities. The outstanding fair value of the securities on loan and the collateral received by the Funds is as follows:

Securities Collateral Collateral of As at December 31, on loan received securities loaned (%)

Manulife Asset Management Canadian Equity Index Pooled Fund 2018 40,186 43,453 108 2017 43,767 46,239 106 Manulife Asset Management US Equity Index Pooled Fund 2018 1,174 1,239 106 2017 1,931 2,112 109 Manulife Asset Management US Equity Index Pooled Fund (Non-Taxable) 2018 831 872 105 2017 1,351 1,457 108 Manulife Asset Management US Small Cap Value Pooled Fund 2018 131 144 110 2017 11 108 Manulife Asset Management Global Equity II Pooled Fund 2018 15 16 105 2017 32 34 106 Manulife Asset Management Global Small Cap Equity Pooled Fund 2018 125 132 106 Manulife Asset Management International Equity Index Pooled Fund 2017 488 514 105 Manulife Asset Management S&P / TSX 60 Pooled Fund II 2018 12,879 13,967 108 2017 13,998 14,774 106

290 MANULIFE ASSET MANAGEMENT POOLED FUNDS ANNUAL REPORT

NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 ($ in thousands except for per unit amounts)

Income earned from securities lending is included in income from securities lending in the Statements of Comprehensive Income. The reconciliation of gross and net securities lending income is as follows: Income from Gross income Fees paid Net income securities lending, from securities to securities from securities Foreign net of foreign lending lending agent* lending withholding tax withholding tax For the year ended December 31, (%) of (%) of (%) of (%) of gross gross gross gross ($) ($) income ($) income ($) income ($) income Manulife Asset Management Global Diversified Balanced Pooled Fund 2018 5 1 20.0 4 80.0 - - 4 80.0 Manulife Asset Management Canadian Equity Index Pooled Fund 2018 592 178 30.1 414 69.9 - - 414 69.9 2017 410 124 30.2 286 69.8 - - 286 69.8 Manulife Asset Management Canadian Core Equity Pooled Fund 2018 1 - - 1 100.0 - - 1 100.0 2017 3 1 33.3 2 66.7 - - 2 66.7 Manulife Asset Management US Equity Index Pooled Fund 2018 13 4 30.8 9 69.2 - - 9 69.2 2017 22 6 27.3 16 72.7 - - 16 72.7 Manulife Asset Management US Equity Index Pooled Fund (Non-Taxable) 2018 6 2 33.3 4 66.7 - - 4 66.7 2017 16 4 25.0 12 75.0 - - 12 75.0 Manulife Asset Management US Small Cap Value Pooled Fund 2018 2 1 50.0 1 50.0 - - 1 50.0 Manulife Asset Management Global Equity II Pooled Fund 2018 20 6 30.0 14 70.0 - - 14 70.0 2017 23 6 26.1 17 73.9 - - 17 73.9 Manulife Asset Management Global Small Cap Equity Pooled Fund 2017 7 1 14.3 6 85.7 - - 6 85.7 Manulife Asset Management International Equity Index Pooled Fund 2018 130 38 29.2 92 70.8 - - 92 70.8 2017 126 34 27.0 92 73.0 - - 92 73.0 Manulife Asset Management S&P / TSX 60 Pooled Fund II 2018 26 8 30.8 18 69.2 - - 18 69.2 2017 8 3 37.5 5 62.5 - - 5 62.5 *all security lending agent fees were paid to State Street Bank and Trust.

11. COMMITMENTS

As at December 31, 2018 and 2017, the following Funds had unfunded bridge financing commitments on an agreed term. Upon expiry of the commitment term, the original commitments may be converted into a new bond issue.

Fund Name December 31, 2018 December 31, 2017 Manulife Asset Management Strategic Income Pooled Fund - 5,448 Manulife Asset Management Strategic Income (ex Tobacco and Marijuana) Pooled Fund - 223

12. FILING EXEMPTION

In accordance with section 2.11 (c) of National Instrument 81-106 (“NI 81-106”), the Manager, as trustee, general partner and manager of the Funds, has provided notice to the securities regulatory authority that it is relying on the exemption granted by section 2.11 of NI 81-106 and will not be filing the annual or interim financial statements of the Funds.

13. BORROWINGS

Certain funds may borrow cash by entering into repurchase agreements with a financial institution, which could represent financing transactions for the Funds. Manulife Asset Management Leveraged Liability Government Bond Pooled Fund entered for the first time into such agreements on March 2nd, 2018. The minimum borrowing amount outstanding during the year was $19,865 and the maximum borrowing amount outstanding during the year was $19,903, representing 217.47% and 214.81% of the net asset of the Fund, respectively. As at December 31, 2018 the amount of borrowing outstanding was $19,865 with an weighted average interest rate of 1.89%.

14. COMPARATIVE BALANCES

The comparative financial statements have been reclassified from the statements previously presented in order to conform to the presentation of the current year financial statements. Certain balances have been combined or disaggregated in order to conform to the current year’s classification of financial statement items.

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