Annual financial statements December 31, 2015 POOLED AND INDEXED FUNDS

Transcription

1 Annual financial statements December 31, 2015 POOLED AND INDEXED FUNDS

2 Contents Annual financial statements 4 Manulife Asset Management Canadian Equity Fund 7 Manulife Asset Management Canadian Value Equity Fund 8 Manulife Canadian Equity Index Fund (Manulife Asset Management) 13 Manulife Capped Canadian Equity Fund (Manulife Asset Management) 16 Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 21 Manulife Asset Management Canadian Small-Cap Equity Fund 23 Manulife Equity Tri-Plan Fund (Manulife Asset Management) 26 Manulife SLI US Equity Fund 29 Manulife US Equity Index Fund (Manulife Asset Management) 36 Manulife Asset Management US Equity Direct Index Registered Fund 43 Manulife SLI US Equity Non-Registered Fund 46 Manulife Asset Management Hedged US Equity Index Fund 48 Manulife SLI International Equity Fund 49 Manulife SLI Global Absolute Return Strategies Fund 50 Manulife Standard Life Investments Absolute Return Global Bond Strategies Fund 51 Manulife Asset Management Bond Fund 54 Manulife Asset Management Short Term Bond Fund 55 Manulife Asset Management Long Term Bond Fund 58 Manulife Asset Management Short-Term Liability Government Bond Fund 59 Manulife Asset Management Mid-Term Liability Government Bond Fund 60 Manulife Asset Management Long-Term Liability Government Bond Fund 61 Manulife Canadian Bond Index Fund (Manulife Asset Management) 75 Manulife Asset Management Real Return Bond Fund 77 Manulife Asset Management Diversified Fund 82 Manulife Diversified Tri-Plan Fund (Manulife Asset Management) 87 Manulife Money Market Fund (Manulife Asset Management) 90 Manulife Canadian Pooled Real Estate Fund 96 Manulife Canadian Mortgage Fund 99 Manulife Small Cap Portfolio Fund (Multi-Manager) 100 Manulife Income Index Portfolio Fund 102 Manulife Balanced Index Portfolio Fund 103 Manulife Growth Index Portfolio Fund 104 Manulife Multi-manager Target Date 2015 Fund 105 Manulife Multi-manager Target Date 2020 Fund 106 Manulife Multi-manager Target Date 2025 Fund 107 Manulife Multi-manager Target Date 2030 Fund 108 Manulife Multi-manager Target Date 2035 Fund 109 Manulife Multi-manager Target Date 2040 Fund 110 Manulife Multi-manager Target Date 2045 Fund 111 Manulife Multi-manager Target Date 2050 Fund 112 Manulife Multi-manager Target Date 2055 Fund 113 Manulife Multi-manager Retirement Fund 115 Manulife Target Date 2015 Index Fund (Manulife)

3 116 Manulife Target Date 2020 Index Fund (Manulife) 117 Manulife Target Date 2025 Index Fund (Manulife) 118 Manulife Target Date 2030 Index Fund (Manulife) 119 Manulife Target Date 2035 Index Fund (Manulife) 120 Manulife Target Date 2040 Index Fund (Manulife) 121 Manulife Target Date 2045 Index Fund (Manulife) 122 Manulife Target Date 2050 Index Fund (Manulife) 123 Manulife Target Date 2055 Index Fund (Manulife) 124 Manulife Retirement Index Fund (Manulife) 125 Manulife MMF Corporate Bond Fund 126 Manulife MMF Monthly Income Fund 127 Manulife MMF Canadian Dividend Fund 128 Manulife MMF Global Dividend Fund (SLI) 129 Manulife MMF Global Unconstrained Equity Fund (SLI) 130 Manulife MMF Global Bond Fund 131 Manulife MMF Conservative Income Fund 132 Manulife MMF Tactical Income Fund 133 Manulife MMF Dividend Income Fund 134 Manulife MMF US Dividend Income Fund 135 Manulife MMF Global REIT Unconstrained Fund (SLI) 136 Notes to annual financial statements 161 Independent auditor s report

4 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 426, ,813 Cash Subscriptions receivable Interest, dividends and other receivables , ,899 LIABILITIES Current liabilities Redemptions payable Accrued expenses 1 2 Other liabilities - 5 Payable secured by securities 16,610-16, NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 411, ,584 Net assets attributable to contractholders per unit 1, , Manulife Asset Management Canadian Equity Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Interest Dividends 10,864 11,467 Foreign exchange gain (loss) 88 - Other income (loss) 1 - investments and derivatives (22,534) 41,615 (11,432) 53,111 EXPENSES Custodian fees Interest 1 - Other operating expenses Foreign withholding taxes - 8 Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS (12,012) 52,303 Increase (decrease) in net assets attributable to contractholders per unit (33.14) STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 481, ,684 ATTRIBUTABLE TO CONTRACTHOLDERS (12,012) 52,303 CAPITAL UNIT TRANSACTIONS Units sold 108,341 85,740 Units redeemed (166,013) (155,143) Net capital unit transactions (57,672) (69,403) end of year 411, ,584 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders (12,012) 52,303 Adjustments for: Foreign exchange gain (loss) (88) - investments and derivatives 22,534 (41,615) Non cash interest on fixed income investments 92 (4) Purchase of investments (693,939) (808,457) Proceeds from sale and maturity of investments 725, ,063 (Increase) decrease in interest, dividends and other receivables (235) 115 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities 16,604 (1) Net cash from operating activities 58,095 69,404 Cash flows used in financing activities Proceeds from sale of units 108,287 85,823 Payments for units redeemed (166,146) (155,269) Net cash used in financing activities (57,859) (69,446) Foreign exchange gain (loss) 88 - Net increase (decrease) in cash 324 (42) Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received Dividend received, net of withholding taxes 10,717 11,574 4

5 Manulife Asset Management Canadian Equity Fund (expressed in thousands of dollars, except par values) Shares EQUITIES ENERGY 14.78% ARC Resources Ltd. 109,414 2,991 1,827 Baytex Energy Corp. 357,783 5,291 1,603 Canadian Energy Services & Technology Corp. 749,452 4,151 2,908 Canadian Natural Resources Limited 381,509 10,947 11,529 Cenovus Energy Inc. 290,702 8,007 5,087 Enbridge Inc. 302,451 12,229 13,913 MEG Energy Corp. 117,034 2, PEYTO Exploration & Development Corp. 72,817 2,485 1,811 Secure Energy Services Inc. 294,473 4,847 2,462 ShawCor Ltd. 61,802 3,247 1,735 Suncor Energy Inc. 301,953 9,862 10,786 Tourmaline Oil Corp. 98,644 4,570 2,205 Vermilion Energy Inc. 108,042 4,993 4,063 MATERIALS 6.07% Agnico-Eagle Mines Limited 125,559 3,859 4,567 Agrium Inc. 49,959 5,212 6,178 First Quantum Minerals Ltd. 138,201 3, Goldcorp Inc. 245,380 6,488 3,924 Hudbay Minerals Inc. 101,971 1, Lundin Mining Corporation 731,681 4,194 2,780 Tahoe Resources Inc. 128,810 2,164 1,542 West Fraser Timber Co. Ltd. 90,559 3,945 4,757 INDUSTRIALS 10.89% Boyd Group Income Fund 41,270 2,325 2,728 Canadian National Railway Company 304,344 9,072 23,541 Canadian Pacific Railway Limited 21,142 4,824 3,736 Stantec Inc. 249,298 6,350 8,556 WSP Global Inc. 147,592 6,300 6,274 CONSUMER DISCRETIONARY 9.78% Cineplex Inc. 147,241 5,387 7,001 Dollarama Inc. 70,597 1,588 5,644 Gildan Activewear Inc. 246,074 5,687 9,681 IMAX Corporation 86,684 2,888 4,264 Magna International Inc. 95,122 2,843 5,338 Restaurant Brands International Inc. 95,324 4,738 4,933 Thomson Reuters Corporation 65,581 3,408 3,437 CONSUMER STAPLES 6.27% Alimentation Couche-Tard Inc., Subordinated Voting, B 268,490 4,589 16,354 George Weston Limited 20,301 2,011 2,171 Loblaw Companies Limited 111,525 5,436 7,287 Par value or shares HEALTH CARE 5.51% Concordia Healthcare Corp. 74,386 5,174 4,206 Novadaq Technologies Inc. 234,821 3,160 4,166 Valeant Pharmaceuticals International, Inc. 101,797 11,920 14,309 FINANCIALS 35.20% Bank of Montreal 54,956 4,527 4,291 Bank of Nova Scotia, (The) 340,851 17,085 19,077 Brookfield Asset Management Inc., Limited Voting, A 264,012 8,957 11,524 Brookfield Property Partners L.P. 155,555 4,057 5,012 Canadian Imperial Bank of Commerce 60,890 5,796 5,553 Canadian Western Bank 82,535 2,432 1,930 Element Financial Corporation 641,381 6,004 10,711 Industrial Alliance Insurance and Financial Services Inc. 227,437 9,324 10,037 Manulife Financial Corporation (1) 759,974 14,273 15,762 Royal Bank of Canada 407,384 19,066 30,208 Toronto-Dominion Bank, (The) 569,897 19,156 30,911 INFORMATION TECHNOLOGY 4.36% CGI Group Inc., Subordinated Voting, A 224,463 7,842 12,433 Open Text Corporation 82,987 2,884 5,505 TELECOMMUNICATIONS 4.38% Rogers Communications Inc., B 172,542 7,967 8,234 TELUS Corporation 256,788 8,517 9,825 UTILITIES 1.92% Brookfield Infrastructure Partners L.P. 151,260 6,072 7,923 TOTAL EQUITIES 99.16% 337, ,435 SHORT-TERM INVESTMENTS Bank of Montreal, 3.103%, 2016/03/10 2,683,000 2,693 2,694 Banner Trust, 0.650%, 2016/01/04 760, Canadian Imperial Bank of Commerce, floating rate, 2016/04/08 1,964,000 1,965 1,964 Federal Home Loan Bank, Discount Notes, 0.304%, 2016/04/08 1,100,000 1,526 1,521 Government of Canada, 0.510%, 2016/05/19 7,000,000 6,986 6,987 National Bank of Canada, 2.050% 2016/01/11 2,664,000 2,665 2,664 Royal Bank of Canada, 3.360%, 2016/01/11 1,962,000 1,963 1,962 TOTAL SHORT-TERM INVESTMENTS 4.50% 18,558 18,552 Transaction s (368) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 356, ,987 Other assets, less liabilities (3.66%) (15,087) (15,087) NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 340, ,900 (1) Following the sale transaction described in Note 1, the Fund sold Manulife Financial Corporation shares to enter into a total return swap. Under International Financial Reporting Standards, derecognition of all of Manulife Financial Corporation shares is prohibited as the Fund retains all the risks and rewards of shares ownership. As a result, the shares are presented in the schedule of portfolio investments and a payable secured by securities has been recorded in the statement of financial position. The details of the total return swap are presented on the following page. 5

6 POOLED AND INDEXED FUNDS Manulife Asset Management Canadian Equity Fund (expressed in thousands of dollars) Counterparty Bank of Montreal A+ Credit rating for counterparty Swap description Fixed rate Notional units Maturity Manulife Financial Corporation, Common Shares Notional amount Unrealized gain/(loss) 3-month CDOR (2) + 35 bps 759, /03/10 16,598 (848) (2) CDOR - Canadian Deposit Offered Rate % of net assets attributable to contractholders as at December 31, 2014 Equities Energy Materials 8.39 Industrials 8.95 Consumer discretionary 8.37 Consumer staples 5.77 Health care 6.61 Financials Other 9.11 Short-term investments 1.12 Other assets, less liabilities

7 Manulife Asset Management Canadian Value Equity Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 14,843 12,150 Cash 31 - Subscriptions receivable - 1 Receivable from investments sold 4-14,878 12,151 LIABILITIES Current liabilities Redemptions payable - 1 Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 14,843 12,150 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds 1, investments and derivatives (2,309) 498 (668) 1,249 EXPENSES Interest 1 - Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS (671) 1,245 Increase (decrease) in net assets attributable to contractholders per unit (1.43) 3.52 STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 12,150 8,788 ATTRIBUTABLE TO CONTRACTHOLDERS (671) 1,245 CAPITAL UNIT TRANSACTIONS Units sold 6,390 5,578 Units redeemed (3,026) (3,461) Net capital unit transactions 3,364 2,117 end of year 14,843 12,150 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders (671) 1,245 Adjustments for: investments and derivatives 2,309 (498) Purchase of investments (6,921) (5,146) Proceeds from sale and maturity of investments 1,950 2,278 Net cash from operating activities (3,333) (2,121) Cash flows used in financing activities Proceeds from sale of units 6,391 5,581 Payments for units redeemed (3,027) (3,460) Net cash used in financing activities 3,364 2,121 Net increase (decrease) in cash 31 - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year 31 - Units Manulife Asset Management Canadian Value Equity Pooled Fund 152,152 15,579 14,843 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 15,579 14,843 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 15,579 14,843 7

8 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 445, ,638 Cash Cash margin Subscriptions receivable Interest, dividends and other receivables 1,221 1,045 Derivative assets , ,923 LIABILITIES Current liabilities Redemptions payable Payable on investments purchased Other liabilities ,307 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 447, ,616 Net assets attributable to contractholders per unit Manulife Canadian Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 16 7 Dividends 14,322 12,852 Foreign exchange gain (loss) 14 - Other income (loss) 1 - investments and derivatives (53,432) 31,151 (39,079) 44,010 EXPENSES Custodian fees Other operating expenses 39 - Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS (39,248) 43,912 Increase (decrease) in net assets attributable to contractholders per unit (3.22) 3.70 STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 458, ,504 ATTRIBUTABLE TO CONTRACTHOLDERS (39,248) 43,912 CAPITAL UNIT TRANSACTIONS Units sold 147, ,616 Units redeemed (119,710) (236,416) Net capital unit transactions 28, end of year 447, ,616 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders (39,248) 43,912 Adjustments for: Foreign exchange gain (loss) (14) - investments and derivatives 53,432 (31,151) Non cash interest on fixed income investments (12) (1) Purchase of investments (501,701) (205,751) Proceeds from sale and maturity of investments 460, ,923 (Increase) decrease in cash margin (632) (102) (Increase) decrease in interest, dividends and other receivables (176) (60) Increase (decrease) in accrued expenses, other liabilities and payable secured by securities (1) (1) Net cash from operating activities (28,112) (231) Cash flows used in financing activities Proceeds from sale of units 148, ,561 Payments for units redeemed (120,286) (236,361) Net cash used in financing activities 28, Foreign exchange gain (loss) 14 - Net increase (decrease) in cash 225 (31) Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received 4 6 Dividend received, net of withholding taxes 14,145 12,793 8

9 Shares EQUITIES ENERGY 17.85% Advantage Oil & Gas Ltd. 45, AltaGas Ltd. 38,808 1,301 1,199 ARC Resources Ltd. 91,345 2,227 1,525 Athabasca Oil Corporation 98, Baytex Energy Corp. 55,665 2, Birchcliff Energy Ltd. 27, Bonavista Energy Corporation 52, Bonterra Energy Corp. 6, Cameco Corporation 104,773 2,270 1,788 Canadian Energy Services & Technology Corp. 50, Canadian Natural Resources Limited 289,716 9,209 8,755 Canadian Oil Sands Limited 128,289 2,717 1,061 Cenovus Energy Inc. 220,571 6,158 3,860 Crescent Point Energy Corp. 133,667 4,740 2,155 Crew Energy Inc. 37, Enbridge Inc. 228,619 8,750 10,516 Enbridge Income Fund Holdings Inc. 20, EnCana Corporation 223,863 4,384 1,574 Enerflex Ltd. 20, Enerplus Corporation 54,668 1, Ensign Energy Services Inc. 32, Freehold Royalties Ltd. 20, Gibson Energy Inc. 33, Gran Tierra Energy Inc. 64, Husky Energy Inc. 78,165 2,058 1,119 Imperial Oil Limited 67,315 2,849 3,035 Inter Pipeline Ltd. 89,020 2,266 1,977 Kelt Exploration Ltd. 37, Keyera Corp. 45,273 1,215 1,823 MEG Energy Corp. 41,092 1, Mullen Group Ltd. 24, NuVista Energy Ltd. 41, Paramount Resources Ltd., A 15, Parex Resources Inc. 37, Parkland Fuel Corporation 24, Pason Systems Inc. 18, Pembina Pipeline Corporation 98,226 3,033 2,962 Pengrowth Energy Trust 145,036 1, Penn West Petroleum Ltd. 133,000 2, PEYTO Exploration & Development Corp. 42,080 1,063 1,047 PrairieSky Royalty Ltd. 41,421 1, Precision Drilling Corporation 77, Raging River Exploration Inc. 46, Secure Energy Services Inc. 32, Seven Generations Energy Ltd. 41, ShawCor Ltd. 17, Suncor Energy Inc. 382,652 12,637 13,668 Manulife Canadian Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars) Shares Surge Energy Inc. 57, TORC Oil & Gas Ltd. 30, Tourmaline Oil Corp. 49,209 1,738 1,100 TransCanada Corporation 187,671 8,087 8,481 Trinidad Drilling Ltd. 57, Veresen Inc. 78,303 1, Vermilion Energy Inc. 29,335 1,466 1,103 Whitecap Resources Inc. 79, MATERIALS 9.19% Agnico-Eagle Mines Limited 57,612 2,251 2,095 Agrium Inc. 36,574 3,028 4,523 Alacer Gold Corp. 77, Alamos Gold Inc. 67, B2Gold Corp. 245, Barrick Gold Corporation 308,314 8,566 3,157 Canfor Corporation 19, CCL Industries Inc., Non-voting, B 7, ,609 Centerra Gold Inc. 41, Chemtrade Logistics Income Fund 18, Detour Gold Corporation 45, Dominion Diamond Corporation 22, Eldorado Gold Corporation 189,657 1, First Majestic Silver Corp. 41, First Quantum Minerals Ltd. 182,461 3, Franco-Nevada Corporation 41,572 1,833 2,632 Goldcorp Inc. 219,748 7,029 3,514 Hudbay Minerals Inc. 62, IAMGOLD Corporation 103, Interfor Corporation 16, Intertape Polymer Group Inc. 13, Kinross Gold Corporation 303,396 2, Labrador Iron Ore Royalty Corporation 17, Lundin Mining Corporation 165, Methanex Corporation 23, ,085 Nevsun Resources Ltd. 53, New Gold Inc. 134, Norbord Inc. 10, NovaGold Resources Inc. 61, OceanaGold Corporation 159, Osisko Gold Royalties Ltd. 24, Pan American Silver Corp. 40, Potash Corporation of Saskatchewan Inc. 221,045 8,042 5,239 Pretium Resources Inc. 28, Primero Mining Corp. 43, SEMAFO Inc. 77, Silver Standard Resources Inc. 21, Silver Wheaton Corp. 106,879 2,656 1,838 Stella-Jones Inc. 11, Tahoe Resources Inc. 60,

10 POOLED AND INDEXED FUNDS Manulife Canadian Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars) Shares Teck Resources Limited, Subordinated Voting, B 123,019 3, Torex Gold Resources Inc. 207, Turquoise Hill Resources Ltd. 260,936 1, West Fraser Timber Co. Ltd. 17, Western Forest Products Inc. 104, Yamana Gold Inc. 250,513 2, INDUSTRIALS 8.00% Aecon Group Inc. 14, Air Canada 75, ATS Automation Tooling Systems Inc. 19, Badger Daylighting Ltd. 9, Bombardier Inc., Subordinated Voting, B 511,483 2, Boyd Group Income Fund 4, CAE Inc. 71, ,094 Canadian National Railway Company 209,826 9,379 16,230 Canadian Pacific Railway Limited 36,818 3,864 6,507 Finning International Inc. 44,804 1, MacDonald, Dettwiler & Associates Ltd. 9, New Flyer Industries Inc. 9, Progressive Waste Solutions Ltd. 28, Ritchie Bros. Auctioneers Incorporated 28, Russel Metals Inc. 16, SNC-Lavalin Group Inc. 39,643 1,603 1,630 Stantec Inc. 24, Toromont Industries Ltd. 19, Transcontinental Inc., A 16, TransForce Inc. 22, WestJet Airlines Ltd. 32, Westshore Terminals Investment Corporation 15, WSP Global Inc. 16, CONSUMER DISCRETIONARY 6.69% Aimia Inc. 41, Amaya Inc. 28, AutoCanada Inc. 5, BRP Inc. 9, Canadian Tire Corporation, Limited, A 18,922 1,457 2,236 Cineplex Inc. 16, Cogeco Cable Inc., Subordinated Voting 6, Corus Entertainment Inc., B 22, DHX Media Ltd. 31, Dollarama Inc. 30, ,429 Dorel Industries Inc., Subordinated Voting, B 6, EnerCare Inc. 24, Gildan Activewear Inc. 61,137 1,250 2,405 Great Canadian Gaming Corporation 13, Hudson's Bay Company 29, Intertain Group Limited 17, Linamar Corporation 12, Shares Magna International Inc. 101,689 3,362 5,707 Martinrea International Inc. 22, Performance Sports Group Ltd. 12, Quebecor Inc., B 22, Restaurant Brands International Inc. 59,577 2,575 3,083 RONA Inc. 24, Shaw Communications Inc., B 104,250 2,336 2,481 Thomson Reuters Corporation 85,405 3,101 4,476 Uni-Select Inc. 5, CONSUMER STAPLES 4.35% Alimentation Couche-Tard Inc., Subordinated Voting, B 110,997 2,175 6,761 Cott Corporation 29, Empire Company Limited, Non-voting, A 42, ,100 George Weston Limited 12, ,340 Jean Coutu Group (PJC) Inc., (The) 22, Loblaw Companies Limited 57,859 2,896 3,781 Maple Leaf Foods Inc. 23, METRO INC. 63,680 1,216 2,467 Saputo Inc. 67,487 1,484 2,234 The North West Company Inc. 12, HEALTH CARE 2.94% Concordia Healthcare Corp. 9, Extendicare Inc. 23, ProMetic Life Sciences Inc. 126, Valeant Pharmaceuticals International, Inc. 84,898 8,545 11,933 FINANCIALS 37.16% Alaris Royalty Corp. 9, Allied Properties Real Estate Investment Trust 20, Artis Real Estate Investment Trust 36, Bank of Montreal 170,100 10,639 13,281 Bank of Nova Scotia, (The) 318,433 17,390 17,823 Boardwalk Real Estate Investment Trust 10, Brookfield Asset Management Inc., Limited Voting, A 228,532 5,725 9,975 Brookfield Property Partners L.P. 56,990 1,103 1,836 Canaccord Financial Inc. 24, Canadian Apartment Properties Real Estate Investment Trust 33, Canadian Imperial Bank of Commerce 105,167 8,222 9,590 Canadian Real Estate Investment Trust 19, Canadian Western Bank 21, Chartwell Retirement Residences 46, CI Financial Corp. 62,943 1,821 1,926 Colliers International Group Inc. 8, Cominar Real Estate Investment Trust 42, Crombie Real Estate Investment Trust 20, Dream Global REIT 28, Dream Office Real Estate Investment Trust 28,

11 Manulife Canadian Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Shares Element Financial Corporation 102,122 1,524 1,705 Fairfax Financial Holdings Limited 5,833 2,475 3,832 First Capital Realty Inc. 29, FirstService Corporation 8, Genworth MI Canada Inc. 10, Granite Real Investment Trust 12, Great-West Lifeco Inc. 76,240 2,098 2,633 H&R Real Estate Investment Trust 73,775 1,695 1,479 Home Capital Group Inc. 17, IGM Financial Inc. 23,428 1, Industrial Alliance Insurance and Financial Services Inc. 26, ,189 Intact Financial Corporation 34,818 2,098 3,088 Laurentian Bank of Canada 7, Manulife Financial Corporation 521,834 9,485 10,823 National Bank of Canada 89,181 3,286 3,595 Northern Property Real Estate Investment Trust 11, Onex Corporation 21, ,807 Power Corporation of Canada, Subordinated Voting 96,498 2,710 2,793 Power Financial Corporation 64,199 1,935 2,042 Pure Industrial Real Estate Trust 49, RioCan Real Estate Investment Trust 84,407 2,258 2,000 Royal Bank of Canada 393,108 23,327 29,149 Smart Real Estate Investment 30, Sun Life Financial Inc. 161,800 5,198 6,982 TMX Group Limited 6, Toronto-Dominion Bank, (The) 490,825 20,245 26,622 Tricon Capital Group Inc. 27, INFORMATION TECHNOLOGY 3.11% Avigilon Corporation 9, BlackBerry Limited 122,447 2,577 1,572 Celestica Inc. 32, CGI Group Inc., Subordinated Voting, A 72,961 2,109 4,042 Computer Modelling Group Ltd. 19, Constellation Software Inc. 4, ,848 Descartes Systems Group Inc., (The) 20, DH Corporation 28, Par value or shares Enghouse Systems Limited 4, Kinaxis Inc. 5, Mitel Networks Corporation 24, Open Text Corporation 32,129 1,055 2,131 Sierra Wireless Inc. 8, TELECOMMUNICATIONS 5.24% BCE Inc. 228,805 9,489 12,232 Manitoba Telecom Services Inc. 20, Rogers Communications Inc., B 94,781 3,608 4,523 TELUS Corporation 158,849 4,733 6,078 UTILITIES 2.23% Algonquin Power & Utilities Corp. 53, ATCO Ltd. 19, Brookfield Renewable Energy Partners L.P. 27, Canadian Utilities Limited, Non-voting, A 30, Capital Power Corporation 23, Emera Incorporated 38,466 1,225 1,663 Fortis Inc. 74,168 2,435 2,775 Innergex Renewable Energy Inc. 24, Just Energy Group Inc. 25, Northland Power Inc. 29, Superior Plus Corp. 37, TransAlta Corporation 75,233 1, TRUST UNITS 0.39% ishares, S&P/TSX Capped Composite Index 84,250 1,809 1,736 TOTAL EQUITIES 97.15% 415, ,756 SHORT-TERM INVESTMENTS Banner Trust, 0.650%, 2016/01/04 2,510,000 2,510 2,509 Government of Canada, 0.415%, 2016/03/10 7,900,000 7,894 7,893 TOTAL SHORT-TERM INVESTMENTS 2.32% 10,404 10,402 Transaction s (277) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.47% 425, ,158 Derivative assets and liabilities (1) 0.03% Other assets, less liabilities 0.50% 2,262 2,262 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 427, ,567 (1) Derivative assets and liabilities Futures contracts / Maturity date Number of contracts Contracted value Unrealized gain/(loss) Derivative assets S&P/TSX 60 Index Future, 2016/ ,027 12, Derivative assets and liabilities

12 POOLED AND INDEXED FUNDS Manulife Canadian Equity Index Fund (Manulife Asset Management) % of net assets attributable to contractholders as at December 31, 2014 Equities Energy Materials Industrials 8.61 Consumer discretionary 6.34 Financials Telecommunications 4.81 Other Short-term investments 0.17 Other assets, less liabilities

13 Manulife Capped Canadian Equity Fund (Manulife Asset Management) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 STATEMENT OF COMPREHENSIVE INCOME ASSETS Current assets Investments, non-derivative financial assets 188, ,409 Cash Subscriptions receivable Interest, dividends and other receivables , ,817 LIABILITIES Current liabilities Redemptions payable 7 20 Accrued expenses 1 1 Other liabilities - 3 Payable secured by securities 7,548-7, NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 182, ,793 Net assets attributable to contractholders per unit INCOME Interest Dividends 4,664 5,305 Foreign exchange gain (loss) 44 - investments and derivatives (9,820) 20,247 (5,039) 25,573 EXPENSES Custodian fees Interest - 3 Other operating expenses Foreign withholding taxes - 4 Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS (5,291) 25,156 Increase (decrease) in net assets attributable to contractholders per unit (0.71) 2.70 STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 194, ,255 ATTRIBUTABLE TO CONTRACTHOLDERS (5,291) 25,156 CAPITAL UNIT TRANSACTIONS Units sold 27,723 31,851 Units redeemed (35,151) (99,469) Net capital unit transactions (7,428) (67,618) end of year 182, ,793 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders (5,291) 25,156 Adjustments for: Foreign exchange gain (loss) (44) - investments and derivatives 9,820 (20,247) Non cash interest on fixed income investments 44 (2) Purchase of investments (608,300) (548,763) Proceeds from sale and maturity of investments 604, ,341 (Increase) decrease in interest, dividends and other receivables (120) 90 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities 7,545 (1) Net cash from operating activities 8,275 67,574 Cash flows used in financing activities Proceeds from sale of units 27,552 31,844 Payments for units redeemed (35,164) (99,463) Net cash used in financing activities (7,612) (67,619) Foreign exchange gain (loss) 44 - Net increase (decrease) in cash 707 (45) Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received Dividend received, net of withholding taxes 4,584 5,391 13

14 POOLED AND INDEXED FUNDS Shares EQUITIES ENERGY 14.49% ARC Resources Ltd. 45,708 1, Baytex Energy Corp. 152,155 2, Canadian Energy Services & Technology Corp. 323,552 1,802 1,255 Canadian Natural Resources Limited 165,273 4,967 4,995 Cenovus Energy Inc. 125,659 3,478 2,199 Enbridge Inc. 130,384 5,398 5,998 MEG Energy Corp. 49,666 1, PEYTO Exploration & Development Corp. 29,863 1, Secure Energy Services Inc. 127,437 2,031 1,065 ShawCor Ltd. 28,111 1, Suncor Energy Inc. 134,091 4,449 4,790 Tourmaline Oil Corp. 41,958 1, Vermilion Energy Inc. 47,012 2,212 1,768 MATERIALS 5.94% Agnico-Eagle Mines Limited 55,903 1,720 2,033 Agrium Inc. 21,558 2,284 2,666 First Quantum Minerals Ltd. 59,910 1, Goldcorp Inc. 107,928 2,863 1,726 Hudbay Minerals Inc. 45, Lundin Mining Corporation 293,655 1,675 1,116 Tahoe Resources Inc. 55, West Fraser Timber Co. Ltd. 38,970 1,747 2,047 INDUSTRIALS 10.71% Boyd Group Income Fund 17,808 1,004 1,177 Canadian National Railway Company 132,948 5,141 10,284 Canadian Pacific Railway Limited 9,020 2,050 1,594 Stantec Inc. 107,280 2,765 3,682 WSP Global Inc. 64,891 2,774 2,759 CONSUMER DISCRETIONARY 9.91% Cineplex Inc. 66,072 2,437 3,142 Dollarama Inc. 33, ,676 Gildan Activewear Inc. 111,527 2,704 4,387 IMAX Corporation 37,753 1,274 1,857 Magna International Inc. 41,036 1,348 2,303 Restaurant Brands International Inc. 42,268 2,114 2,187 Thomson Reuters Corporation 28,302 1,472 1,483 CONSUMER STAPLES 6.33% Alimentation Couche-Tard Inc., Subordinated Voting, B 117,285 2,269 7,144 George Weston Limited 11,020 1,094 1,178 Loblaw Companies Limited 49,175 2,455 3,213 Manulife Capped Canadian Equity Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value or shares HEALTH CARE 5.49% Concordia Healthcare Corp. 34,313 2,367 1,940 Novadaq Technologies Inc. 101,389 1,361 1,799 Valeant Pharmaceuticals International, Inc. 44,468 4,746 6,250 FINANCIALS 34.76% Bank of Montreal 23,940 1,967 1,869 Bank of Nova Scotia, (The) 150,292 7,900 8,412 Brookfield Asset Management Inc., Limited Voting, A 113,162 3,897 4,940 Brookfield Property Partners L.P. 66,976 1,752 2,158 Canadian Imperial Bank of Commerce 26,737 2,548 2,438 Canadian Western Bank 42,432 1, Element Financial Corporation 271,226 2,681 4,529 Industrial Alliance Insurance and Financial Services Inc. 99,352 4,062 4,384 Manulife Financial Corporation (1) 345,359 6,411 7,163 Royal Bank of Canada 177,453 8,863 13,158 Toronto-Dominion Bank, (The) 244,401 8,889 13,256 INFORMATION TECHNOLOGY 4.25% CGI Group Inc., Subordinated Voting, A 97,017 3,518 5,375 Open Text Corporation 35,684 1,263 2,367 TELECOMMUNICATIONS 4.28% Rogers Communications Inc., B 74,264 3,442 3,544 TELUS Corporation 110,951 3,708 4,245 UTILITIES 1.89% Brookfield Infrastructure Partners L.P. 65,606 2,604 3,438 TOTAL EQUITIES 98.05% 151, ,513 SHORT-TERM INVESTMENTS Bank of Montreal, 3.103%, 2016/03/10 1,220,000 1,225 1,225 Banner Trust, 0.650%, 2016/01/04 700, Canadian Imperial Bank of Commerce, floating rate, 2016/04/08 892, Government of Canada, 0.476%, 2016/05/05 4,800,000 4,792 4,792 National Bank of Canada, 2.050% 2016/01/11 1,210,000 1,210 1,210 Royal Bank of Canada, 3.360%, 2016/01/11 892, TOTAL SHORT-TERM INVESTMENTS 5.33% 9,712 9,711 Transaction s (149) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 160, ,224 Other assets, less liabilities (3.38%) (6,150) (6,150) NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 154, ,074 (1) Following the sale transaction described in Note 1, the Fund sold Manulife Financial Corporation shares to enter into a total return swap. Under International Financial Reporting Standards, derecognition of all of Manulife Financial Corporation shares is prohibited as the Fund retains all the risks and rewards of shares ownership. As a result, the shares are presented in the schedule of portfolio investments and a payable secured by securities has been recorded in the statement of financial position. The details of the total return swap are presented on the following page. 14

15 Manulife Capped Canadian Equity Fund (Manulife Asset Management) (expressed in thousands of dollars) Counterparty Bank of Montreal A+ Credit rating for counterparty Swap description Fixed rate Notional units Maturity Manulife Financial Corporation, Common Shares Notional amount Unrealized gain/(loss) 3-month CDOR (2) + 35 bps 345, /03/10 7,543 (385) (2) CDOR - Canadian Deposit Offered Rate % of net assets attributable to contractholders as at December 31, 2014 Equities Energy Materials 8.02 Industrials 8.89 Consumer discretionary 8.07 Consumer staples 5.80 Health care 6.88 Financials Other 8.81 Short-term investments 1.10 Other assets, less liabilities

16 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME as at December 31 ASSETS Current assets Investments, non-derivative financial assets 203, ,514 Cash Cash margin Subscriptions receivable 79 - Receivable from investments sold - 69 Interest, dividends and other receivables Derivative assets , ,326 LIABILITIES Current liabilities Redemptions payable 13 - Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 204, ,011 Net assets attributable to contractholders per unit INCOME Interest 10 5 Dividends 7,100 6,759 Foreign exchange gain (loss) 7 - investments and derivatives (26,672) 16,709 (19,555) 23,473 EXPENSES Custodian fees Other operating expenses 20 - Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS (19,654) 23,418 Increase (decrease) in net assets attributable to contractholders per unit (2.18) 2.52 STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 239, ,594 ATTRIBUTABLE TO CONTRACTHOLDERS (19,654) 23,418 CAPITAL UNIT TRANSACTIONS Units sold 50,067 72,706 Units redeemed (64,736) (76,707) Net capital unit transactions (14,669) (4,001) end of year 204, ,011 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders (19,654) 23,418 Adjustments for: Foreign exchange gain (loss) (7) - investments and derivatives 26,672 (16,709) Non cash interest on fixed income investments (8) - Purchase of investments (442,338) (142,728) Proceeds from sale and maturity of investments 450, ,065 (Increase) decrease in cash margin (357) 17 (Increase) decrease in interest, dividends and other receivables (5) (29) Net cash from operating activities 14,790 4,034 Cash flows used in financing activities Proceeds from sale of units 49,988 72,706 Payments for units redeemed (64,723) (76,707) Net cash used in financing activities (14,735) (4,001) Foreign exchange gain (loss) 7 - Net increase (decrease) in cash Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received 2 5 Dividend received, net of withholding taxes 7,095 6,730 16

17 Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) (expressed in thousands of dollars) Shares EQUITIES ENERGY 17.62% Advantage Oil & Gas Ltd. 20, AltaGas Ltd. 17, ARC Resources Ltd. 41,226 1, Athabasca Oil Corporation 44, Baytex Energy Corp. 25, Birchcliff Energy Ltd. 12, Bonavista Energy Corporation 23, Bonterra Energy Corp. 3, Cameco Corporation 47,287 1, Canadian Energy Services & Technology Corp. 22, Canadian Natural Resources Limited 130,759 3,483 3,952 Canadian Oil Sands Limited 57,900 1, Cenovus Energy Inc. 99,552 2,397 1,742 Crescent Point Energy Corp. 60,328 2, Crew Energy Inc. 17, Enbridge Inc. 103,184 3,106 4,746 Enbridge Income Fund Holdings Inc. 9, EnCana Corporation 101,036 2, Enerflex Ltd. 9, Enerplus Corporation 24, Ensign Energy Services Inc. 14, Freehold Royalties Ltd. 9, Gibson Energy Inc. 15, Gran Tierra Energy Inc. 29, Husky Energy Inc. 35, Imperial Oil Limited 30,381 1,163 1,370 Inter Pipeline Ltd. 40,178 1, Kelt Exploration Ltd. 16, Keyera Corp. 20, MEG Energy Corp. 18, Mullen Group Ltd. 10, NuVista Energy Ltd. 18, Paramount Resources Ltd., A 6, Parex Resources Inc. 16, Parkland Fuel Corporation 10, Pason Systems Inc. 8, Pembina Pipeline Corporation 44,333 1,322 1,337 Pengrowth Energy Trust 65, Penn West Petroleum Ltd. 59,992 1, PEYTO Exploration & Development Corp. 18, PrairieSky Royalty Ltd. 18, Precision Drilling Corporation 34, Raging River Exploration Inc. 21, Secure Energy Services Inc. 14, Seven Generations Energy Ltd. 18, ShawCor Ltd. 7, Suncor Energy Inc. 172,705 5,392 6,169 Shares Surge Energy Inc. 25, TORC Oil & Gas Ltd. 13, Tourmaline Oil Corp. 22, TransCanada Corporation 84,703 3,283 3,828 Trinidad Drilling Ltd. 26, Veresen Inc. 35, Vermilion Energy Inc. 13, Whitecap Resources Inc. 35, MATERIALS 9.07% Agnico-Eagle Mines Limited 26, Agrium Inc. 16,507 1,000 2,041 Alacer Gold Corp. 34, Alamos Gold Inc. 30, B2Gold Corp. 110, Barrick Gold Corporation 139,153 3,752 1,425 Canfor Corporation 8, CCL Industries Inc., Non-voting, B 3, Centerra Gold Inc. 18, Chemtrade Logistics Income Fund 8, Detour Gold Corporation 20, Dominion Diamond Corporation 10, Eldorado Gold Corporation 85, First Majestic Silver Corp. 18, First Quantum Minerals Ltd. 82,350 1, Franco-Nevada Corporation 18, ,188 Goldcorp Inc. 99,179 2,603 1,586 Hudbay Minerals Inc. 28, IAMGOLD Corporation 46, Interfor Corporation 7, Intertape Polymer Group Inc. 6, Kinross Gold Corporation 136,933 1, Labrador Iron Ore Royalty Corporation 7, Lundin Mining Corporation 74, Methanex Corporation 10, Nevsun Resources Ltd. 24, New Gold Inc. 60, Norbord Inc. 4, NovaGold Resources Inc. 27, OceanaGold Corporation 72, Osisko Gold Royalties Ltd. 11, Pan American Silver Corp. 18, Potash Corporation of Saskatchewan Inc. 99,766 2,682 2,364 Pretium Resources Inc. 12, Primero Mining Corp. 19, SEMAFO Inc. 35, Silver Standard Resources Inc. 9, Silver Wheaton Corp. 48, Stella-Jones Inc. 5, Tahoe Resources Inc. 27,

18 POOLED AND INDEXED FUNDS Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) (expressed in thousands of dollars) Shares Teck Resources Limited, Subordinated Voting, B 55,521 1, Torex Gold Resources Inc. 93, Turquoise Hill Resources Ltd. 117, West Fraser Timber Co. Ltd. 8, Western Forest Products Inc. 47, Yamana Gold Inc. 113,062 1, INDUSTRIALS 7.90% Aecon Group Inc. 6, Air Canada 33, ATS Automation Tooling Systems Inc. 8, Badger Daylighting Ltd. 4, Bombardier Inc., Subordinated Voting, B 230,856 1, Boyd Group Income Fund 2, CAE Inc. 32, Canadian National Railway Company 94,704 3,353 7,325 Canadian Pacific Railway Limited 16,618 1,456 2,937 Finning International Inc. 20, MacDonald, Dettwiler & Associates Ltd. 4, New Flyer Industries Inc. 4, Progressive Waste Solutions Ltd. 13, Ritchie Bros. Auctioneers Incorporated 12, Russel Metals Inc. 7, SNC-Lavalin Group Inc. 17, Stantec Inc. 11, Toromont Industries Ltd. 8, Transcontinental Inc., A 7, TransForce Inc. 10, WestJet Airlines Ltd. 14, Westshore Terminals Investment Corporation 7, WSP Global Inc. 7, CONSUMER DISCRETIONARY 6.60% Aimia Inc. 18, Amaya Inc. 12, AutoCanada Inc. 2, BRP Inc. 4, Canadian Tire Corporation, Limited, A 8, ,009 Cineplex Inc. 7, Cogeco Cable Inc., Subordinated Voting 2, Corus Entertainment Inc., B 10, DHX Media Ltd. 14, Dollarama Inc. 13, ,096 Dorel Industries Inc., Subordinated Voting, B 3, EnerCare Inc. 10, Gildan Activewear Inc. 27, ,086 Great Canadian Gaming Corporation 5, Hudson's Bay Company 13, Intertain Group Limited 7, Linamar Corporation 5, Shares Magna International Inc. 45,897 1,296 2,576 Martinrea International Inc. 10, Performance Sports Group Ltd. 5, Quebecor Inc., B 9, Restaurant Brands International Inc. 26,890 1,157 1,392 RONA Inc. 11, Shaw Communications Inc., B 47, ,120 Thomson Reuters Corporation 38,559 1,494 2,021 Uni-Select Inc. 2, CONSUMER STAPLES 4.29% Alimentation Couche-Tard Inc., Subordinated Voting, B 50, ,051 Cott Corporation 13, Empire Company Limited, Non-voting, A 19, George Weston Limited 5, Jean Coutu Group (PJC) Inc., (The) 9, Loblaw Companies Limited 26,114 1,301 1,706 Maple Leaf Foods Inc. 10, METRO INC. 28, ,114 Saputo Inc. 30, ,008 The North West Company Inc. 5, HEALTH CARE 2.90% Concordia Healthcare Corp. 4, Extendicare Inc. 10, ProMetic Life Sciences Inc. 56, Valeant Pharmaceuticals International, Inc. 38,318 3,157 5,386 FINANCIALS 36.67% Alaris Royalty Corp. 4, Allied Properties Real Estate Investment Trust 9, Artis Real Estate Investment Trust 16, Bank of Montreal 76,772 4,500 5,994 Bank of Nova Scotia, (The) 143,720 7,022 8,044 Boardwalk Real Estate Investment Trust 4, Brookfield Asset Management Inc., Limited Voting, A 103,145 2,326 4,502 Brookfield Property Partners L.P. 25, Canaccord Financial Inc. 11, Canadian Apartment Properties Real Estate Investment Trust 15, Canadian Imperial Bank of Commerce 47,466 3,568 4,328 Canadian Real Estate Investment Trust 8, Canadian Western Bank 9, Chartwell Retirement Residences 20, CI Financial Corp. 28, Colliers International Group Inc. 3, Cominar Real Estate Investment Trust 19, Crombie Real Estate Investment Trust 9, Dream Global REIT 12, Dream Office Real Estate Investment Trust 12,

19 Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Shares Element Financial Corporation 46, Fairfax Financial Holdings Limited 2, ,730 First Capital Realty Inc. 13, FirstService Corporation 3, Genworth MI Canada Inc. 4, Granite Real Investment Trust 5, Great-West Lifeco Inc. 34, ,188 H&R Real Estate Investment Trust 33, Home Capital Group Inc. 7, IGM Financial Inc. 10, Industrial Alliance Insurance and Financial Services Inc. 12, Intact Financial Corporation 15, ,394 Laurentian Bank of Canada 3, Manulife Financial Corporation 235,521 5,522 4,885 National Bank of Canada 40,251 1,253 1,623 Northern Property Real Estate Investment Trust 5, Onex Corporation 9, Power Corporation of Canada, Subordinated Voting 43,553 1,239 1,260 Power Financial Corporation 28, Pure Industrial Real Estate Trust 22, RioCan Real Estate Investment Trust 38,096 1, Royal Bank of Canada 177,424 9,244 13,156 Smart Real Estate Investment 13, Sun Life Financial Inc. 73,026 2,644 3,151 TMX Group Limited 2, Toronto-Dominion Bank, (The) 221,527 7,851 12,016 Tricon Capital Group Inc. 12, INFORMATION TECHNOLOGY 3.07% Avigilon Corporation 4, BlackBerry Limited 55,264 1, Celestica Inc. 14, CGI Group Inc., Subordinated Voting, A 32, ,824 Computer Modelling Group Ltd. 8, Constellation Software Inc. 2, ,285 Par value or shares Descartes Systems Group Inc., (The) 9, DH Corporation 12, Enghouse Systems Limited 2, Kinaxis Inc. 2, Mitel Networks Corporation 11, Open Text Corporation 14, Sierra Wireless Inc. 3, TELECOMMUNICATIONS 5.17% BCE Inc. 103,268 4,064 5,521 Manitoba Telecom Services Inc. 9, Rogers Communications Inc., B 42,778 1,356 2,041 TELUS Corporation 71,695 1,813 2,743 UTILITIES 2.20% Algonquin Power & Utilities Corp. 24, ATCO Ltd. 8, Brookfield Renewable Energy Partners L.P. 12, Canadian Utilities Limited, Non-voting, A 13, Capital Power Corporation 10, Emera Incorporated 17, Fortis Inc. 33,474 1,011 1,252 Innergex Renewable Energy Inc. 10, Just Energy Group Inc. 11, Northland Power Inc. 13, Superior Plus Corp. 16, TransAlta Corporation 33, TRUST UNITS 0.56% ishares, S&P/TSX Capped Composite Index 55,800 1,215 1,150 TOTAL EQUITIES 96.05% 175, ,588 SHORT-TERM INVESTMENTS Banner Trust, 0.650%, 2016/01/04 6,820,000 6,820 6,818 TOTAL SHORT-TERM INVESTMENTS 3.33% 6,820 6,818 Transaction s (134) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.38% 181, ,406 Derivative assets and liabilities (1) 0.05% - 94 Other assets, less liabilities 0.57% 1,188 1,188 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 182, ,688 (1) Derivative assets and liabilities Futures contracts / Maturity date Number of contracts Contracted value Unrealized gain/(loss) Derivative assets S&P/TSX 60 Index Future, 2016/ ,450 6, Derivative assets and liabilities 94 19

20 POOLED AND INDEXED FUNDS Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) % of net assets attributable to contractholders as at December 31, 2014 Equities Energy Materials Industrials 8.61 Consumer discretionary 6.34 Financials Telecommunications 4.80 Other Short-term investments 0.17 Other assets, less liabilities

21 Manulife Asset Management Canadian Small-Cap Equity Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 174, ,392 Cash Subscriptions receivable Interest, dividends and other receivables , ,251 LIABILITIES Current liabilities Bank indebtedness 11 - Redemptions payable Payable on investments purchased - 96 Accrued expenses 1 1 Other liabilities NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 174, ,084 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Interest Dividends 5,856 3,268 Foreign exchange gain (loss) investments and derivatives (5,718) 16, ,129 EXPENSES Custodian fees Interest 1 - Other operating expenses Foreign withholding taxes 38 3 Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS (323) 19,634 Increase (decrease) in net assets attributable to contractholders per unit (0.13) 7.30 STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 185, ,977 ATTRIBUTABLE TO CONTRACTHOLDERS (323) 19,634 CAPITAL UNIT TRANSACTIONS Units sold 46,894 62,347 Units redeemed (56,813) (78,874) Net capital unit transactions (9,919) (16,527) end of year 174, ,084 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders (323) 19,634 Adjustments for: Foreign exchange gain (loss) (116) (38) investments and derivatives 5,718 (16,775) Non cash interest on fixed income investments (34) (26) Purchase of investments (727,613) (668,061) Proceeds from sale and maturity of investments 731, ,139 (Increase) decrease in interest, dividends and other receivables (34) 69 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities (2) - Net cash from operating activities 9,461 15,942 Cash flows used in financing activities Proceeds from sale of units 47,158 62,418 Payments for units redeemed (56,865) (79,214) Net cash used in financing activities (9,707) (16,796) Foreign exchange gain (loss) Net increase (decrease) in cash (130) (816) Cash (bank indebtedness) at beginning of year 229 1,045 Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received 6 22 Dividend received, net of withholding taxes 5,784 3,334 21

22 POOLED AND INDEXED FUNDS Shares EQUITIES ENERGY 11.73% Boulder Energy Ltd. 210,112 1, Canadian Energy Services & Technology Corp. 384,247 1,220 1,491 Cardinal Energy Ltd. 223,014 2,672 1,956 Crew Energy Inc. 569,128 3,118 2,305 Freehold Royalties Ltd. 201,331 3,047 2,186 Painted Pony Petroleum Ltd. 191,041 1, Parex Resources Inc. 314,561 2,110 3,196 Parkland Fuel Corporation 55,937 1,154 1,303 Raging River Exploration Inc. 240,891 2,003 2,016 Secure Energy Services Inc. 118,016 1, Spartan Energy Corp. 1,010,672 2,802 2,385 Storm Resources Ltd. 467,069 2,017 1,667 MATERIALS 18.06% B2Gold Corp. 978,232 2,248 1,370 CCL Industries Inc., Non-voting, B 33,390 1,125 7,492 Chemtrade Logistics Income Fund 277,676 5,382 4,959 Interfor Corporation 226,873 3,646 3,185 Intertape Polymer Group Inc. 91,648 1,616 1,713 Lundin Mining Corporation 349,957 2,027 1,330 Nevsun Resources Ltd. 406,263 1,631 1,523 Stella-Jones Inc. 174,708 2,610 9,174 Trevali Mining Corporation 1,639,137 1, INDUSTRIALS 16.69% Aecon Group Inc. 293,240 3,676 4,513 Air Canada 263,872 3,569 2,694 ATS Automation Tooling Systems Inc. 140,835 1,425 1,603 Black Diamond Group Limited 241,591 3,736 1,754 Boyd Group Income Fund 88,219 1,192 5,831 DIRTT Environmental Solutions Ltd. 539,186 3,685 3,742 Exchange Income Corporation 53,438 1,343 1,524 K-Bro Linen Inc. 29,494 1,049 1,503 Richelieu Hardware Ltd. 88,635 2,303 6,015 CONSUMER DISCRETIONARY 7.83% Gray Television, Inc. 82,748 1,826 1,867 Intertain Group Limited 165,702 3,189 1,650 Linamar Corporation 99,149 8,362 7,409 Quebecor Inc., B 81,553 2,538 2,763 CONSUMER STAPLES 6.86% AGT Food and Ingredients Inc. 209,589 6,456 7,124 Clearwater Seafoods Incorporated 201,452 2,442 2,415 PremiumBrands Holdings Corporation 64,245 1,973 2,454 HEALTH CARE 6.04% Concordia Healthcare Corp. 28,048 1,469 1,586 Depomed, Inc. 76,825 2,019 1,928 Knight Therapeutics Inc. 250,716 1,972 1,936 Lannett Company, Inc. 26,147 1,653 1,452 Medical Facilities Corporation 102,385 1,629 1,473 Merus Labs International Inc. 961,727 3,089 2,193 Manulife Asset Management Canadian Small-Cap Equity Fund (expressed in thousands of dollars, except par values) Par value or shares FINANCIALS 11.96% Altus Group Limited 117,855 2,038 2,285 Callidus Capital Corporation 123,139 1,708 1,084 Crown Capital Partners Inc. 111,292 1, Element Financial Corporation 293,189 2,889 4,896 GDI Integrated Facility Services Inc. 82,922 1,346 1,154 Jones Lang LaSalle Incorporated 10,504 2,287 2,324 Milestone Apartments Real Estate Investment Trust 153,405 1,820 2,309 Plaza Retail REIT 316,082 1,363 1,486 Tricon Capital Group Inc. 224,730 2,385 2,036 WPT Industrial Real Estate Investment Trust 143,358 2,320 2,371 INFORMATION TECHNOLOGY 16.54% Celestica Inc. 237,829 3,570 3,639 Descartes Systems Group Inc., (The) 174,908 1,131 4,869 DH Corporation 47,916 1,939 1,515 Ebix, Inc. 36,506 1,665 1,657 Integrated Device Technology, Inc. 105,196 3,103 3,836 Kinaxis Inc. 114,797 3,537 5,386 Mitel Networks Corporation 341,168 3,929 3,640 Redknee Solutions Inc. 863,488 4,211 2,565 Solium Capital Inc. 257,896 1,793 1,805 TOTAL EQUITIES 95.71% 150, ,348 SHORT-TERM INVESTMENTS Banner Trust, 0.649%, 2016/01/04 120, Government of Canada, 0.420%, 2016/03/24 4,900,000 4,895 4,895 Government of Canada, 0.476%, 2016/05/05 2,000,000 1,997 1,997 TOTAL SHORT-TERM INVESTMENTS 4.01% 7,012 7,012 Transaction s (411) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.72% 157, ,360 Other assets, less liabilities 0.28% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 157, ,842 % of net assets attributable to contractholders as at December 31, 2014 Equities Energy Materials Industrials Consumer discretionary 1.21 Consumer staples 6.57 Health care - Financials Information technology Other 1.76 Short-term investments 3.54 Other assets, less liabilities

23 Manulife Equity Tri-Plan Fund (Manulife Asset Management) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 57,132 59,135 Cash 413 1,654 Subscriptions receivable Receivable from investments sold Interest, dividends and other receivables ,665 61,516 LIABILITIES Current liabilities Redemptions payable 9 3 Payable on investments purchased Other liabilities - 1 Payable secured by securities 2,336-2, NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 55,320 61,223 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Interest Dividends 1,264 1,469 Foreign exchange gain (loss) 278 (9) investments and derivatives 17 5,025 1,587 6,510 EXPENSES Custodian fees 5 8 Other operating expenses Foreign withholding taxes Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS 1,442 6,294 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 61,223 64,375 ATTRIBUTABLE TO CONTRACTHOLDERS 1,442 6,294 CAPITAL UNIT TRANSACTIONS Units sold 4,678 4,411 Units redeemed (12,023) (13,857) Net capital unit transactions (7,345) (9,446) end of year 55,320 61,223 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 1,442 6,294 Adjustments for: Foreign exchange gain (loss) (278) 9 investments and derivatives (17) (5,025) Non cash interest on fixed income investments 10 (7) Purchase of investments (296,242) (499,505) Proceeds from sale and maturity of investments 298, ,121 (Increase) decrease in interest, dividends and other receivables (6) 6 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities 2,335 - Net cash from operating activities 5,816 10,893 Cash flows used in financing activities Proceeds from sale of units 4,682 4,407 Payments for units redeemed (12,017) (13,888) Net cash used in financing activities (7,335) (9,481) Foreign exchange gain (loss) 278 (9) Net increase (decrease) in cash (1,241) 1,403 Cash (bank indebtedness) at beginning of year 1, Cash (bank indebtedness) at end of year 413 1,654 Supplemental disclosures on cash flows from operating activities Interest received Dividend received, net of withholding taxes 1,252 1,460 23

24 POOLED AND INDEXED FUNDS Shares EQUITIES ENERGY 11.56% ARC Resources Ltd. 26, Baytex Energy Corp. 51, Canadian Energy Services & Technology Corp. 73, Canadian Natural Resources Limited 44,674 1,525 1,350 Enbridge Inc. 31,560 1,403 1,452 Gibson Energy Inc. 21, Secure Energy Services Inc. 34, ShawCor Ltd. 12, Suncor Energy Inc. 35,975 1,366 1,285 Vermilion Energy Inc. 10, MATERIALS 4.98% Agnico-Eagle Mines Limited 12, Agrium Inc. 4, Goldcorp Inc. 22, Hudbay Minerals Inc. 50, Lundin Mining Corporation 97, West Fraser Timber Co. Ltd. 13, INDUSTRIALS 12.50% Allegion Public Limited Company 8, Canadian National Railway Company 40,818 1,989 3,157 Danaher Corporation 5, Stantec Inc. 23, United Parcel Service, Inc., B 4, WSP Global Inc. 19, CONSUMER DISCRETIONARY 11.22% Amazon.com, Inc Cineplex Inc. 24, ,151 Dollarama Inc. 8, Gildan Activewear Inc. 36,597 1,315 1,440 IMAX Corporation 11, Magna International Inc. 8, Ralph Lauren Corporation 3, Restaurant Brands International Inc. 9, CONSUMER STAPLES 4.94% Alimentation Couche-Tard Inc., Subordinated Voting, B 23, ,426 Loblaw Companies Limited 8, Mondelez International, Inc. 12, Manulife Equity Tri-Plan Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value or shares HEALTH CARE 12.03% AbbVie Inc. 7, Allergan Public Limited Company 1, Concordia Healthcare Corp. 18,659 1,095 1,055 Medtronic Public Limited Company 6, Novadaq Technologies Inc. 50, Pfizer Inc. 29,297 1,255 1,309 Valeant Pharmaceuticals International, Inc. 10,599 1,678 1,490 FINANCIALS 29.76% Bank of Nova Scotia, (The) 24,529 1,299 1,373 Brookfield Asset Management Inc., Limited Voting, A 21, Canadian Western Bank 16, Charles Schwab Corporation, (The) 16, Citigroup Inc. 16,867 1,050 1,208 Element Financial Corporation 96,912 1,265 1,618 Evercore Partners Inc., A 9, J.P. Morgan Chase & Co. 8, Manulife Financial Corporation (1) 106,900 1,801 2,217 Royal Bank of Canada 41,999 1,930 3,114 Toronto-Dominion Bank, (The) 63,360 2,146 3,437 INFORMATION TECHNOLOGY 5.27% Alphabet Inc., Class A CGI Group Inc., Subordinated Voting, A 27,383 1,036 1,517 Microsoft Corporation 7, TELECOMMUNICATIONS 2.41% Rogers Communications Inc., B 11, TELUS Corporation 20, UTILITIES 2.51% Brookfield Infrastructure Partners L.P. 26,536 1,416 1,390 TOTAL EQUITIES 97.18% 47,287 53,757 SHORT-TERM INVESTMENTS Bank of Montreal, 3.103%, 2016/03/10 377, Banner Trust, 0.650%, 2016/01/04 2,070,000 2,070 2,070 Canadian Imperial Bank of Commerce, floating rate, 2016/04/08 276, National Bank of Canada, 2.050%, 2016/01/11 375, Royal Bank of Canada, 3.360%, 2016/01/11 276, TOTAL SHORT-TERM INVESTMENTS 6,10% 3,375 3,375 Transaction s (46) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 103,28% 50,616 57,132 Other assets, less liabilities (3.28%) (1,812) (1,812) NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 48,804 55,320 (1) Following the sale transaction described in Note 1, the Fund sold Manulife Financial Corporation shares to enter into a total return swap. Under International Financial Reporting Standards, derecognition of all of Manulife Financial Corporation shares is prohibited as the Fund retains all the risks and rewards of shares ownership. As a result, the shares are presented in the schedule of portfolio investments and a payable secured by securities has been recorded in the statement of financial position. The details of the total return swap are presented on the following page. 24

25 Manulife Equity Tri-Plan Fund (Manulife Asset Management) (expressed in thousands of dollars) Counterparty Bank of Montreal A+ Credit rating for counterparty Swap description Fixed rate Notional units Maturity Manulife Financial Corporation, Common Shares Notional amount Unrealized gain/(loss) 3-month CDOR (2) + 35 bps 106, /03/10 2,335 (119) (2) CDOR - Canadian Deposit Offered Rate % of net assets attributable to contractholders as at December 31, 2014 Equities Energy Materials Industrials 9.83 Consumer discretionary 6.97 Health care 4.45 Financials Information technology 5.26 Other 5.90 Short-term investments 1.39 Other assets, less liabilities

26 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 334, ,972 Cash 5,915 8,272 Subscriptions receivable Receivable from investments sold Interest, dividends and other receivables , ,271 LIABILITIES Current liabilities Redemptions payable Payable on investments purchased Accrued expenses 3 1 Other liabilities - 3 Derivative liabilities 2-1, NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 339, ,818 Net assets attributable to contractholders per unit Manulife SLI US Equity Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 5 8 Dividends 6,305 9,915 Foreign exchange gain (loss) Other income (loss) - 1 investments and derivatives 59,522 54,279 66,525 64,497 EXPENSES Custodian fees Interest 1 - Other operating expenses Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS 66,168 64,143 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 298, ,125 ATTRIBUTABLE TO CONTRACTHOLDERS 66,168 64,143 CAPITAL UNIT TRANSACTIONS Units sold 74,593 61,659 Units redeemed (99,806) (109,109) Net capital unit transactions (25,213) (47,450) end of year 339, ,818 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 66,168 64,143 Adjustments for: Foreign exchange gain (loss) (693) (294) investments and derivatives (59,522) (54,279) Purchase of investments (434,292) (388,134) Proceeds from sale and maturity of investments 450, ,837 (Increase) decrease in interest, dividends and other receivables 177 (130) Increase (decrease) in accrued expenses, other liabilities and payable secured by securities (1) (1) Net cash from operating activities 22,059 53,142 Cash flows used in financing activities Proceeds from sale of units 74,527 61,676 Payments for units redeemed (99,636) (109,108) Net cash used in financing activities (25,109) (47,432) Foreign exchange gain (loss) Net increase (decrease) in cash (2,357) 6,004 Cash (bank indebtedness) at beginning of year 8,272 2,268 Cash (bank indebtedness) at end of year 5,915 8,272 Supplemental disclosures on cash flows from operating activities Interest received 5 8 Dividend received, net of withholding taxes 6,457 9,809 26

27 Manulife SLI US Equity Fund (expressed in thousands of dollars, except par values) Shares EQUITIES ENERGY 5.16% Chevron Corporation 19,347 2,305 2,409 Concho Resources Inc. 13,094 1,581 1,683 EOG Resources Inc. 35,660 2,130 3,494 Gulfport Energy Corporation 33,876 2,208 1,152 Halliburton Company 78,135 4,135 3,681 Hess Corporation 44,993 4,338 3,019 Occidental Petroleum Corporation 22,539 2,191 2,109 MATERIALS 2.70% Martin Marietta Materials, Inc. 20,616 3,041 3,897 Steel Dynamics, Inc. 53,415 1,393 1,321 Stillwater Mining Company 106,905 1,830 1,268 W.R. Grace & Co. 19,614 2,354 2,703 INDUSTRIALS 8.53% Allegion Public Limited Company 63,700 3,648 5,812 Allison Transmission Holdings, Inc. 66,928 2,520 2,398 Delta Air Lines Inc. 80,146 2,555 5,623 Fortune Brands Home & Security, Inc. 84,218 4,065 6,469 Ingersoll-Rand plc 36,344 2,958 2,781 Lockheed Martin Corporation 10,446 1,563 3,139 Union Pacific Corporation 25,427 3,204 2,752 CONSUMER DISCRETIONARY 14.00% Advance Auto Parts, Inc. 16,445 2,376 3,426 Amazon.com, Inc. 9,898 5,255 9,259 Comcast Corporation, A 88,361 5,377 6,901 Hanesbrands Inc. 131,264 2,030 5,346 Newell Rubbermaid Inc. 89,842 4,327 5,481 The Home Depot, Inc. 46,859 3,678 8,577 TJX Companies Inc., (The) 53,007 2,537 5,202 Visteon Corporation 21,361 2,210 3,385 CONSUMER STAPLES 7.13% Colgate-Palmolive Company 39,588 3,417 3,650 CVS Health Corp. 33,922 2,334 4,590 Mondelez International, Inc. 78,507 3,206 4,872 PepsiCo Inc. 38,730 3,884 5,356 The Kraft Heinz Company 57,255 5,540 5,766 HEALTH CARE 15.89% AbbVie Inc. 61,517 3,736 5,044 Aetna Inc. 21,047 2,809 3,149 Amgen Inc. 24,100 2,700 5,414 Boston Scientific Corporation 239,280 3,813 6,107 Bristol-Myers Squibb Company 42,376 3,356 4,034 Celgene Corporation 40,538 2,389 6,719 Eli Lilly and Company 44,536 4,207 5,194 Gilead Sciences, Inc. 36,013 1,260 5,043 Pfizer Inc. 141,361 6,126 6,315 UnitedHealth Group Incorporated 27,296 4,138 4,444 Vertex Pharmaceuticals Incorporated 14,555 2,134 2,535 Par value or shares FINANCIALS 16.45% American International Group Inc. 78,878 6,646 6,765 American Tower Corporation 46,573 4,440 6,249 Bank of America Corporation 214,882 4,948 5,005 Charles Schwab Corporation, (The) 150,679 4,620 6,867 Citigroup Inc. 97,756 4,987 7,001 Evercore Partners Inc., A 35,959 1,903 2,691 First Republic Bank 70,527 3,268 6,448 Hartford Financial Services Group Inc., (The) 66,079 4,054 3,975 Lazard Ltd., A 57,570 1,749 3,586 Morgan Stanley 60,260 2,703 2,653 Springleaf Holdings, Inc. 35,167 2,119 2,022 Torchmark Corporation 33,353 2,605 2,639 INFORMATION TECHNOLOGY 24.42% Activision Blizzard, Inc. 62,956 1,570 3,373 Alliance Data Systems Corporation 14,364 4,146 5,498 Alphabet Inc., A 3,854 2,654 4,150 Alphabet Inc., C 8,330 5,727 8,749 Apple Inc. 75,176 5,715 10,952 Avago Technologies Limited 30,342 1,772 6,095 Cavium, Inc. 36,631 3,229 3,331 Cognizant Technology Solutions Corporation 41,523 3,582 3,449 Electronic Arts Inc. 59,511 2,682 5,660 Equinix, Inc. 13,433 3,893 5,622 Facebook, Inc., A 63,150 5,363 9,147 FleetCor Technologies, Inc. 23,485 4,740 4,646 Guidewire Software, Inc. 18,503 1,561 1,541 Hewlett Packard Enterprise Company 121,752 2,365 2,561 Mobileye N.V. 29,578 1,612 1,731 Palo Alto Networks, Inc. 8,493 1,563 2,070 salesforce.com, Inc. 40,671 2,919 4,413 TELECOMMUNICATIONS 1.65% Verizon Communications Inc. 87,646 5,215 5,607 UTILITIES 1.32% CMS Energy Corporation 89,973 2,729 4,493 TOTAL EQUITIES 97.25% 237, ,508 SHORT-TERM INVESTMENTS Rabobank Nederland, deposit certificate, 0.000%, 2016/01/04 3,825,269 3,825 3,825 TOTAL SHORT-TERM INVESTMENTS 1.13% 3,825 3,825 Transaction s (223) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 98.38% 241, ,333 Derivative assets and liabilities (1) (0.00%) - (2) Other assets, less liabilities 1.62% 5,442 5,442 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 246, ,773 27

28 POOLED AND INDEXED FUNDS Manulife SLI US Equity Fund (expressed in thousands of dollars, except par values) (1) Derivative assets and liabilities Forward foreign currency contracts Counterparty Credit rating for counterparty Settlement date Currency buy Par value Currency sell Par value Forward rate Current rate Unrealized gain/(loss) Derivative liabilities Société Générale A 2016/01/04 USD 179,108 CAD 248, Royal Bank of Canada AA- 2016/01/05 USD 314,505 CAD 436, (2) Derivative assets and liabilities (2) % of net assets attributable to contractholders as at December 31, 2014 Equities Energy 6.40 Industrials Consumer discretionary Consumer staples 7.27 Health care Financials Information technology Other 4.32 Short-term investments 1.00 Other assets, less liabilities

29 Manulife US Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 404, ,960 Cash Cash margin Subscriptions receivable 1, Interest, dividends and other receivables Derivative assets , ,459 LIABILITIES Current liabilities Bank indebtedness - 2 Redemptions payable Payable on investments purchased Accrued expenses 1 - Other liabilities - 1 Derivative liabilities NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 407, ,985 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Interest Dividends 10,929 11,261 Foreign exchange gain (loss) investments and derivatives 62,913 64,008 74,229 75,354 EXPENSES Custodian fees Interest 1 - Other operating expenses 34 - Foreign withholding taxes 1,236 1,018 Transaction s ,324 1,059 ATTRIBUTABLE TO CONTRACTHOLDERS 72,905 74,295 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CASH FLOWS STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 368, ,328 ATTRIBUTABLE TO CONTRACTHOLDERS 72,905 74,295 CAPITAL UNIT TRANSACTIONS Units sold 123, ,435 Units redeemed (157,621) (171,073) Net capital unit transactions (34,092) (34,638) end of year 407, ,985 Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 72,905 74,295 Adjustments for: Foreign exchange gain (loss) (201) (85) investments and derivatives (62,913) (64,008) Non cash interest on fixed income investments (185) - Purchase of investments (64,989) (22,169) Proceeds from sale and maturity of investments 91,493 46,878 (Increase) decrease in cash margin (670) (123) (Increase) decrease in interest, dividends and other receivables (76) (52) Increase (decrease) in accrued expenses, other liabilities and payable secured by securities - (1) Net cash from operating activities 35,364 34,735 Cash flows used in financing activities Proceeds from sale of units 122, ,420 Payments for units redeemed (157,861) (171,058) Net cash used in financing activities (35,057) (34,638) Foreign exchange gain (loss) Net increase (decrease) in cash Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received 1 - Dividend received, net of withholding taxes 9,617 10,191 29

30 POOLED AND INDEXED FUNDS Manulife US Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars) Shares EQUITIES ENERGY 6.34% Anadarko Petroleum Corporation 8, Apache Corporation 6, Baker Hughes Incorporated 6, Cabot Oil & Gas Corporation 6, Cameron International Corporation 3, Chesapeake Energy Corporation 8, Chevron Corporation 30,245 2,577 3,766 Cimarex Energy Co. 1, Columbia Pipeline Group, Inc. 6, ConocoPhillips 19,948 1,296 1,289 CONSOL Energy Inc. 3, Devon Energy Corporation 6, Diamond Offshore Drilling, Inc. 1, Ensco plc 3, EOG Resources Inc. 8, EQT Corporation 2, Exxon Mobil Corporation 66,878 5,151 7,215 FMC Technologies, Inc. 3, Halliburton Company 13, Helmerich & Payne, Inc. 1, Hess Corporation 3, Kinder Morgan, Inc. 29,505 1, Marathon Oil Corporation 10, Marathon Petroleum Corp. 8, Murphy Oil Corporation 2, National Oilwell Varco, Inc. 6, Newfield Exploration Company 2, Noble Energy Inc. 6, Occidental Petroleum Corporation 12, ,159 ONEOK Inc. 3, Phillips 66 7, Pioneer Natural Resources Company 2, Range Resources Corporation 2, Schlumberger Limited 20,376 1,442 1,967 Southwestern Energy Company 6, Spectra Energy Corp. 10, Tesoro Corporation 1, Transocean Ltd. 5, Valero Energy Corporation 7, Williams Companies Inc., (The) 10, MATERIALS 2.70% Air Products and Chemicals Inc. 3, Airgas, Inc. 1, Alcoa Inc. 20, Avery Dennison Corporation 1, Ball Corporation 2, CF Industries Holdings, Inc. 3, Shares Dow Chemical Company, (The) 18, ,289 E.I. du Pont de Nemours and Company 14, ,299 Eastman Chemical Company 2, Ecolab Inc. 4, FMC Corporation 2, Freeport-McMoRan Copper & Gold Inc. 18, International Flavors & Fragrances Inc. 1, International Paper Company 6, LyondellBasell Industries N.V. 5, Martin Marietta Materials, Inc. 1, Monsanto Company 7, Newmont Mining Corporation 8, Nucor Corporation 5, Owens-Illinois, Inc. 2, PPG Industries, Inc. 4, Praxair Inc. 4, Sealed Air Corporation 3, The Mosaic Company 5, The Sherwin-Williams Company 1, Vulcan Materials Company 2, WestRock Company 4, INDUSTRIALS 9.81% 3M Company 9, ,060 Allegion Public Limited Company 1, American Airlines Group, Inc. 10, AMETEK, Inc. 3, Boeing Company, (The) 10, ,022 C.H. Robinson Worldwide, Inc. 2, Caterpillar Inc. 9, Cintas Corporation 1, CSX Corporation 15, Cummins Inc. 2, Danaher Corporation 9, ,238 Deere & Company 4, Delta Air Lines Inc. 12, Dover Corporation 2, Eaton Corporation plc 7, Emerson Electric Co. 10, Equifax Inc. 1, Expeditors International of Washington Inc. 3, Fastenal Company 4, FedEx Corporation 4, Flowserve Corporation 2, Fluor Corporation 2, General Dynamics Corporation 4, General Electric Company 151,623 4,769 6,537 Grainger W.W. Inc Honeywell International Inc. 12, ,770 Illinois Tool Works Inc. 5,

31 Shares Ingersoll-Rand plc 4, J.B. Hunt Transport Services, Inc. 1, Jacobs Engineering Group Inc. 1, Kansas City Southern 1, L-3 Communications Holdings, Inc. 1, Lockheed Martin Corporation 4, ,281 Masco Corporation 5, Nielsen Holdings plc 5, Norfolk Southern Corporation 4, Northgate Grumman Corporation 2, PACCAR Inc. 5, Parker Hannifin Corporation 2, Pentair plc 2, Pitney Bowes Inc. 3, Precision Castparts Corp. 2, Quanta Services, Inc. 2, Raytheon Company 4, Republic Services, Inc. 3, Robert Half International Inc. 2, Rockwell Automation, Inc. 2, Rockwell Collins Inc. 2, Roper Industries, Inc. 1, Ryder System, Inc Snap-On Inc Southwest Airlines Co. 10, Stanley Black & Decker, Inc. 2, Stericycle, Inc. 1, Textron Inc. 4, The ADT Corporation 2, The Dun & Bradstreet Corporation Tyco International Ltd. 6, Union Pacific Corporation 13, ,481 United Continental Holdings, Inc. 6, United Parcel Service, Inc., B 11, ,484 United Rentals, Inc. 1, United Technologies Corporation 13, ,757 Verisk Analytics, Inc., A 2, Waste Management Inc. 6, Xylem Inc. 2, CONSUMER DISCRETIONARY 12.58% Advance Auto Parts, Inc. 1, Amazon.com, Inc. 6, ,775 AutoNation, Inc. 1, AutoZone, Inc Bed Bath & Beyond Inc. 2, Best Buy Co. Inc. 4, BorgWarner Inc. 3, Cablevision Systems Corporation, A 3, CarMax, Inc. 3, Manulife US Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars) Shares Carnival Corporation 7, CBS Corporation, B 7, Chipotle Mexican Grill, Inc Coach Inc. 4, Comcast Corporation, A 39,237 1,299 3,064 D.R. Horton, Inc. 5, Darden Restaurants, Inc. 1, Delphi Automotive PLC 4, Discovery Communications, Inc., A 2, Discovery Communications, Inc., C 4, Dollar General Corporation 4, Dollar Tree Stores Inc. 3, Expedia, Inc. 1, Ford Motor Company 62, ,213 Fossil Group, Inc GameStop Corp. 1, Gap Inc., (The) 3, Garmin Ltd. 1, General Motors Company 22, ,065 Genuine Parts Company 2, Goodyear Tire & Rubber Company, (The) 4, H&R Block Inc. 3, Hanesbrands Inc. 6, Harley-Davidson Inc. 3, Harman International Industries Incorporated 1, Hasbro Inc. 1, Interpublic Group of Companies Inc., (The) 6, Johnson Controls Inc. 10, Kohl's Corporation 3, L Brands Inc. 4, Leggett & Platt, Incorporated 2, Lennar Corporation 2, Lowe's Companies Inc. 14, ,554 Macy's, Inc. 4, Marriott International Inc. 3, Mattel Inc. 5, McDonald's Corporation 14, ,412 Michael Kors Holdings Limited 3, Mohawk Industries, Inc. 1, Netflix, Inc. 6, ,093 Newell Rubbermaid Inc. 4, News Corporation, A 6, News Corporation, B 1, NIKE Inc., B 21, ,871 Nordstrom, Inc. 2, Omnicom Group Inc. 3, O'Reilly Automotive Inc. 1, PulteGroup, Inc. 5, PVH Corp. 1,

32 POOLED AND INDEXED FUNDS Manulife US Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars) Shares Ralph Lauren Corporation Ross Stores, Inc. 6, Royal Caribbean Cruises Ltd. 2, Scripps Networks Interactive, Inc. 1, Signet Jewelers Limited 1, Staples Inc. 10, Starbucks Corporation 23, ,986 Starwood Hotels & Resorts Worldwide, Inc. 2, Target Corporation 9, TEGNA Inc. 3, The Home Depot, Inc. 20, ,726 The Priceline Group Inc ,410 Tiffany & Co. 1, Time Warner Cable Inc., A 4, ,160 Time Warner Inc. 12, ,147 TJX Companies Inc., (The) 10, ,056 Tractor Supply Company 2, TripAdvisor, Inc. 1, Twenty-First Century Fox, Inc. 6, Twenty-First Century Fox, Inc., A 18, Under Armour, Inc., A 2, Urban Outfitters Inc. 1, V.F. Corp. 5, Viacom Inc., B 5, Walt Disney Company, (The) 24, ,554 Whirlpool Corp. 1, Wyndham Worldwide Corporation 1, Wynn Resorts, Limited 1, YUM! Brands, Inc. 6, CONSUMER STAPLES 9.82% Altria Group Inc. 31,510 1,517 2,539 Archer Daniels Midland Company 9, Brown-Forman Corporation, B 1, Campbell Soup Company 2, Church & Dwight Inc 2, Clorox Company, (The) 2, Coca-Cola Company, (The) 62,809 2,135 3,734 Coca-Cola Enterprises Inc. 3, Colgate-Palmolive Company 14, ,324 ConAgra Foods Inc. 6, Constellation Brands, Inc., A 2, Costco Wholesale Corporation 7, ,568 CVS Health Corp. 17, ,406 Dr Pepper Snapple Group, Inc. 3, Estée Lauder Companies Inc., (The), A 3, General Mills Inc. 9, Hormel Foods Corporation 2, J. M. Smucker Company, (The) 1, Kellogg Company 4, Shares Keurig Green Mountain, Inc. 1, Kimberly-Clark Corporation 5, ,024 Kroger Co., (The) 15, McCormick & Company, Incorporated, Non voting 1, Mead Johnson Nutrition Company 3, Molson Coors Brewing Company, B 2, Mondelez International, Inc. 25, ,577 Monster Beverage Corporation 2, PepsiCo Inc. 23,441 1,622 3,242 Philip Morris International Inc. 24,886 1,498 3,028 Procter & Gamble Company, (The) 43,683 3,054 4,801 Reynolds American Inc. 13, Sysco Corporation 8, The Hershey Corporation 2, The Kraft Heinz Company 9, Tyson Foods, Inc. 4, Walgreens Boots Alliance, Inc. 13, ,643 Wal-Mart Stores Inc. 25,182 1,516 2,136 Whole Foods Market Inc. 5, HEALTH CARE 14.78% Abbott Laboratories 24,069 1,320 1,496 AbbVie Inc. 26,186 1,052 2,147 Aetna Inc. 5, Agilent Technologies Inc. 5, Alexion Pharmaceuticals, Inc. 3, Allergan Public Limited Company 6,333 1,367 2,739 AmerisourceBergen Corporation 3, Amgen Inc. 12, ,718 Anthem, Inc. 4, Baxalta Incorporated 8, Baxter International Inc. 8, Becton, Dickinson and Company 3, Biogen Idec Inc. 3, ,520 Boston Scientific Corporation 21, Bristol-Myers Squibb Company 26, ,552 C.R. Bard Inc. 1, Cardinal Health Inc. 5, Celgene Corporation 12, ,091 Cerner Corporation 4, CIGNA Corporation 4, DaVita HealthCare Partners Inc. 2, DENTSPLY International Inc. 2, Edwards Lifesciences Corporation 3, Eli Lilly and Company 15, ,833 Endo Health Solutions Inc. 3, Express Scripts Holding Co. 10, ,323 Gilead Sciences, Inc. 23, ,244 HCA Holdings, Inc. 5,

33 Shares Henry Schein, Inc. 1, Humana Inc. 2, Illumina, Inc. 2, Intuitive Surgical, Inc Johnson & Johnson 44,453 3,175 6,320 Laboratory Corporation of America Holdings 1, Mallinckrodt plc 1, McKesson Corporation 3, ,012 Medtronic Public Limited Company 22,567 1,465 2,402 Merck & Co., Inc. 44,946 2,033 3,286 Mylan N.V. 6, Patterson Companies Inc. 1, PerkinElmer, Inc. 1, Perrigo Company 2, Pfizer Inc. 99,168 2,662 4,430 Quest Diagnostics Incorporated 2, Regeneron Pharmaceuticals, Inc. 1, St. Jude Medical, Inc. 4, Stryker Corporation 5, Tenet Healthcare Corporation 1, Thermo Fisher Scientific Inc. 6, ,267 UnitedHealth Group Incorporated 15, ,495 Universal Health Services Inc., B 1, Varian Medical Systems, Inc. 1, Vertex Pharmaceuticals Incorporated 3, Waters Corporation 1, Zimmer Holdings Inc. 2, Zoetis Inc. 7, FINANCIALS 15.97% ACE Limited 5, Affiliated Managers Group, Inc AFLAC Incorporated 6, Allstate Corporation, (The) 6, American Express Company 13, ,289 American International Group Inc. 19,889 2,334 1,706 American Tower Corporation 6, Ameriprise Financial, Inc. 2, Aon plc 4, Apartment Investment and Management Company 2, Assurant, Inc. 1, AvalonBay Communities Inc. 2, Bank of America Corporation 167,056 3,619 3,891 Bank of New York Mellon Corporation, (The) 17, ,007 BB&T Corporation 12, Berkshire Hathaway Inc, B 30,081 2,754 5,497 BlackRock, Inc. 2, Boston Properties, Inc. 2, Capital One Financial Corporation 8, Manulife US Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars) Shares CB Richard Ellis Group, Inc., A 4, Charles Schwab Corporation, (The) 19, Chubb Corporation, (The) 3, Cincinnati Financial Corporation 2, Citigroup Inc. 47,788 3,741 3,423 CME Group Inc. 5, Comerica Incorporated 2, Crown Castle International Corp. 5, Discover Financial Services LLC 6, E*TRADE Financial Corporation 4, Equity Residential 5, Essex Property Trust, Inc. 1, Fifth Third Bancorp 12, Franklin Resources Inc. 6, General Growth Properties, Inc. 9, Goldman Sachs Group, Inc., (The) 6, ,585 Hartford Financial Services Group Inc., (The) 6, HCP, Inc. 7, Health Care REIT, Inc. 5, Host Hotels & Resorts, Inc. 11, Huntington Bancshares Incorporated 12, Intercontinental Exchange, Inc. 1, Invesco Ltd. 6, Iron Mountain Incorporated 3, J.P. Morgan Chase & Co. 59,205 2,733 5,410 KeyCorp 13, Kimco Realty Corporation 6, Legg Mason, Inc. 1, Leucadia National Corp. 5, Lincoln National Corporation 4, Loews Corporation 4, M&T Bank Corporation 2, Marsh & McLennan Companies, Inc. 8, McGraw Hill Financial, Inc. 4, MetLife Inc. 17, ,189 Moody's Corporation 2, Morgan Stanley 24,316 1,002 1,071 Navient Corporation 5, Northern Trust Corporation 3, People's United Financial, Inc. 4, Plum Creek Timber Company, Inc. 2, PNC Financial Services Group, (The) 8, ,081 Principal Financial Group 4, Progressive Corporation, (The) 9, Prologis, Inc. 8, Prudential Financial Inc. 7, Public Storage, Inc. 2, Realty Income Corporation 4, Regions Financial Corporation 21,

34 POOLED AND INDEXED FUNDS Manulife US Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars) Shares Simon Property Group, Inc. 5, ,347 SL Green Realty Corp. 1, State Street Corporation 6, SunTrust Banks 8, Synchrony Financial 13, T. Rowe Price Group Inc. 4, The Macerich Company 2, The NASDAQ OMX Group, Inc. 1, Torchmark Corporation 1, Travelers Companies, Inc., (The) 4, U.S. Bancorp 26, ,560 Unum Group 3, Ventas, Inc. 5, Vornado Realty Trust 2, Wells Fargo & Company 74,541 2,494 5,608 Weyerhaeuser Company 8, XL Group plc 4, Zions Bancorporation 3, INFORMATION TECHNOLOGY 20.29% Accenture plc, A 10, ,458 Activision Blizzard, Inc. 8, Adobe Systems Incorporated 8, ,050 Akamai Technologies, Inc. 2, Alliance Data Systems Corporation Alphabet Inc., A 4,679 2,744 5,038 Alphabet Inc., C 4,772 3,046 5,012 Amphenol Corporation, A 4, Analog Devices Inc. 5, Apple Inc. 89,542 2,937 13,044 Applied Materials Inc. 18, Autodesk, Inc. 3, Automatic Data Processing Inc. 7, Avago Technologies Limited 4, Broadcom Corporation 8, CA Inc. 5, Cisco Systems Inc. 81,640 2,128 3,068 Citrix Systems Inc. 2, Cognizant Technology Solutions Corporation 9, Corning Incorporated 18, CSRA Inc. 2, ebay Inc. 17, Electronic Arts Inc. 4, EMC Corporation 31, ,110 Equinix, Inc. 1, F5 Networks, Inc. 1, Facebook, Inc., A 36,466 2,576 5,282 Fidelity National Information Services, Inc. 4, First Solar, Inc. 1, Fiserv Inc. 3, Shares FLIR Systems, Inc. 2, Harris Corporation 1, Hewlett Packard Enterprise Company 28, Hewlett-Packard Company 28,827 1, Intel Corporation 75,861 1,965 3,617 International Business Machines Corporation 14,286 1,859 2,721 Intuit Inc. 4, Juniper Networks Inc. 5, KLA-Tencor Corporation 2, Lam Research Corporation 2, Linear Technology Corporation 3, MasterCard Incorporated, A 15, ,146 Microchip Technology Incorporated 3, Micron Technology Inc. 17, Microsoft Corporation 128,290 4,308 9,851 Motorola Solutions, Inc. 2, NetApp, Inc. 4, NVIDIA Corporation 8, Oracle Corporation 51,439 1,321 2,601 Paychex Inc. 5, PayPal Holdings, Inc. 17, Qorvo 2, Qualcomm Incorporated 24,147 1,190 1,670 Red Hat, Inc. 2, salesforce.com, Inc. 10, ,092 Sandisk Corporation 3, Seagate Technology 4, Skyworks Solutions, Inc. 3, Symantec Corporation 10, TE Connectivity Ltd. 6, Teradata Corporation 2, Texas Instruments Incorporated 16, ,242 Total System Services, Inc. 2, VeriSign Inc. 1, Visa Inc. 31, ,360 Western Digital Corporation 3, Western Union Co. 8, Xerox Corporation 14, Xilinx Inc. 4, Yahoo! Inc. 13, TELECOMMUNICATIONS 2.37% AT&T Inc. 98,774 3,710 4,704 CenturyLink, Inc. 8, Frontier Communications Corporation 18, Level 3 Communications, Inc. 4, Verizon Communications Inc. 65,327 2,909 4,179 UTILITIES 2.92% AES Corporation, (The) 10, AGL Resources, Inc. 1,

35 Manulife US Equity Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Shares Ameren Corporation 3, American Electric Power Company Inc. 7, CenterPoint Energy, Inc. 6, CMS Energy Corporation 4, Consolidated Edison Inc. 4, Dominion Resources Inc. 9, DTE Energy Company 2, Duke Energy Corporation 11, ,104 Edison International 5, Entergy Corporation 2, Eversource Energy 5, Exelon Corporation 14, FirstEnergy Corp. 6, NextEra Energy, Inc. 7, ,074 NiSource Inc. 5, NRG Energy, Inc. 5, Pepco Holdings Inc. 4, PG&E Corporation 8, Pinnacle West Capital Corporation 1, PPL Corporation 10, Par value or shares Public Service Enterprise Group Incorporated 8, SCANA Corp 2, Sempra Energy 3, Southern Company 14, TECO Energy, Inc. 3, WEC Energy Group Inc. 5, Xcel Energy Inc. 8, TRUST UNITS 0.75% SPDR S&P 500 ETF 10,772 2,820 3,039 TOTAL EQUITIES 98.33% 216, ,908 SHORT-TERM INVESTMENTS Federal Home Loan Bank, Discount Notes, 0.081%, 2016/01/14 2,750,000 3,620 3,806 TOTAL SHORT-TERM INVESTMENTS 0.93% 3,620 3,806 Transaction s (95) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.26% 220, ,714 Derivative assets and liabilities (1) (0.00%) - (17) Other assets, less liabilities 0.74% 3,101 3,101 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 223, ,798 (1) Derivative assets and liabilities Futures contracts / Maturity date Number of contracts Contracted value Unrealized gain/(loss) Derivative liabilities Standard & Poor s E-Mini 500 Index Futures, 2016/ ,637 6,620 (17) Derivative assets and liabilities (17) % of net assets attributable to contractholders as at December 31, 2014 Equities Energy 8.40 Industrials Consumer discretionary Consumer staples 9.76 Health care Financials Information technology Other 8.83 Other assets, less liabilities

36 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 579, ,037 Cash 2, Cash margin 1, Subscriptions receivable 819 1,290 Interest, dividends and other receivables Derivative assets , ,894 LIABILITIES Current liabilities Redemptions payable 927 1,326 Payable on investments purchased Accrued expenses 1 - Other liabilities - 1 Derivative liabilities 34-1,321 1,472 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 583, ,422 Net assets attributable to contractholders per unit Manulife Asset Management US Equity Direct Index Registered Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Interest Dividends 15,143 12,553 Foreign exchange gain (loss) 1,062 (20) investments and derivatives 86,940 78, ,408 91,483 EXPENSES Custodian fees Interest 2 - Other operating expenses 48 - Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS 103,273 91,413 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 490, ,834 ATTRIBUTABLE TO CONTRACTHOLDERS 103,273 91,413 CAPITAL UNIT TRANSACTIONS Units sold 193, ,216 Units redeemed (203,361) (226,041) Net capital unit transactions (10,293) 94,175 end of year 583, ,422 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 103,273 91,413 Adjustments for: Foreign exchange gain (loss) (1,062) 20 investments and derivatives (86,940) (78,950) Non cash interest on fixed income investments (263) - Purchase of investments (156,831) (246,985) Proceeds from sale and maturity of investments 153, ,532 (Increase) decrease in cash margin (751) (241) (Increase) decrease in interest, dividends and other receivables (63) (311) Net cash from operating activities 11,305 (94,522) Cash flows used in financing activities Proceeds from sale of units 193, ,301 Payments for units redeemed (203,760) (225,004) Net cash used in financing activities (10,221) 94,297 Foreign exchange gain (loss) 1,062 (20) Net increase (decrease) in cash 2,146 (245) Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year 2, Supplemental disclosures on cash flows from operating activities Dividend received, net of withholding taxes 15,091 12,286 36

37 Shares EQUITIES ENERGY 6.38% Anadarko Petroleum Corporation 11,665 1, Apache Corporation 8, Baker Hughes Incorporated 10, Cabot Oil & Gas Corporation 9, Cameron International Corporation 4, Chesapeake Energy Corporation 11, Chevron Corporation 43,481 4,896 5,414 Cimarex Energy Co. 2, Columbia Pipeline Group, Inc. 8, ConocoPhillips 28,664 2,112 1,852 CONSOL Energy Inc. 5, Devon Energy Corporation 8, Diamond Offshore Drilling, Inc. 1, Ensco plc 5, EOG Resources Inc. 12,831 1,031 1,257 EQT Corporation 3, Exxon Mobil Corporation 96,173 8,968 10,375 FMC Technologies, Inc. 5, Halliburton Company 19, Helmerich & Payne, Inc. 2, Hess Corporation 5, Kinder Morgan, Inc. 42,318 1, Marathon Oil Corporation 15, Marathon Petroleum Corp 12, Murphy Oil Corporation 3, National Oilwell Varco, Inc. 8, Newfield Exploration Company 3, Noble Energy Inc. 9, Occidental Petroleum Corporation 17,784 1,613 1,664 ONEOK Inc. 4, Phillips 66 10, ,245 Pioneer Natural Resources Company 3, Range Resources Corporation 3, Schlumberger Limited 29,290 2,633 2,827 Southwestern Energy Company 8, Spectra Energy Corp. 15, Tesoro Corporation 2, Transocean Ltd. 7, Valero Energy Corporation 11, ,088 Williams Companies Inc., (The) 15, MATERIALS 2.71% Air Products and Chemicals Inc. 4, Airgas, Inc. 1, Alcoa Inc. 30, Avery Dennison Corporation 2, Ball Corporation 3, CF Industries Holdings, Inc. 5, Manulife Asset Management US Equity Direct Index Registered Fund (expressed in thousands of dollars) Shares Dow Chemical Company, (The) 25,999 1,164 1,852 E.I. du Pont de Nemours and Company 20,263 1,227 1,868 Eastman Chemical Company 3, Ecolab Inc. 6, FMC Corporation 3, Freeport-McMoRan Copper & Gold Inc. 26, International Flavors & Fragrances Inc. 1, International Paper Company 9, LyondellBasell Industries N.V. 8, Martin Marietta Materials, Inc. 1, Monsanto Company 10,173 1,044 1,387 Newmont Mining Corporation 12, Nucor Corporation 7, Owens-Illinois, Inc. 3, PPG Industries, Inc. 6, Praxair Inc. 6, Sealed Air Corporation 4, The Mosaic Company 7, The Sherwin-Williams Company 1, Vulcan Materials Company 3, WestRock Company 6, INDUSTRIALS 9.86% 3M Company 14,228 1,767 2,966 Allegion Public Limited Company 2, American Airlines Group, Inc. 14, AMETEK, Inc. 5, Boeing Company, (The) 14,541 1,595 2,910 C.H. Robinson Worldwide, Inc. 3, Caterpillar Inc. 13,473 1,260 1,267 Cintas Corporation 2, CSX Corporation 22, Cummins Inc. 3, Danaher Corporation 13, ,778 Deere & Company 7, Delta Air Lines Inc. 18, ,281 Dover Corporation 3, Eaton Corporation plc 10, Emerson Electric Co. 15, Equifax Inc. 2, Expeditors International of Washington Inc. 4, Fastenal Company 6, FedEx Corporation 6, ,243 Flowserve Corporation 3, Fluor Corporation 3, General Dynamics Corporation 6, ,301 General Electric Company 218,068 5,862 9,401 Grainger W.W. Inc. 1, Honeywell International Inc. 17,785 1,423 2,549 Illinois Tool Works Inc. 7,

38 POOLED AND INDEXED FUNDS Manulife Asset Management US Equity Direct Index Registered Fund (expressed in thousands of dollars) Shares Ingersoll-Rand plc 6, J.B. Hunt Transport Services, Inc. 2, Jacobs Engineering Group Inc. 2, Kansas City Southern 2, L-3 Communications Holdings, Inc. 1, Lockheed Martin Corporation 6, ,843 Masco Corporation 7, Nielsen Holdings plc 8, Norfolk Southern Corporation 6, Northgate Grumman Corporation 4, ,099 PACCAR Inc. 8, Parker Hannifin Corporation 3, Pentair plc 4, Pitney Bowes Inc. 4, Precision Castparts Corp. 3, ,013 Quanta Services, Inc. 3, Raytheon Company 6, ,201 Republic Services, Inc. 5, Robert Half International Inc. 3, Rockwell Automation, Inc. 3, Rockwell Collins Inc. 3, Roper Industries, Inc. 2, Ryder System, Inc. 1, Snap-On Inc. 1, Southwest Airlines Co. 15, Stanley Black & Decker, Inc. 3, Stericycle, Inc. 1, Textron Inc. 6, The ADT Corporation 3, The Dun & Bradstreet Corporation Tyco International Ltd. 9, Union Pacific Corporation 19,706 1,479 2,133 United Continental Holdings, Inc. 8, United Parcel Service, Inc., B 16,035 1,497 2,136 United Rentals, Inc. 2, United Technologies Corporation 19,014 1,926 2,528 Verisk Analytics, Inc., A 3, Waste Management Inc. 9, Xylem Inc. 4, CONSUMER DISCRETIONARY 12.65% Advance Auto Parts, Inc. 1, Amazon.com, Inc. 8,882 2,550 8,309 AutoNation, Inc. 1, AutoZone, Inc Bed Bath & Beyond Inc. 3, Best Buy Co. Inc. 7, BorgWarner Inc. 5, Cablevision Systems Corporation, A 5, CarMax, Inc. 4, Shares Carnival Corporation 10, CBS Corporation, B 9, Chipotle Mexican Grill, Inc Coach Inc. 6, Comcast Corporation, A 56,429 2,699 4,407 D.R. Horton, Inc. 7, Darden Restaurants, Inc. 2, Delphi Automotive PLC 6, Discovery Communications, Inc., A 3, Discovery Communications, Inc., C 5, Dollar General Corporation 6, Dollar Tree Stores Inc. 5, Expedia, Inc. 2, Ford Motor Company 89,470 1,329 1,745 Fossil Group, Inc GameStop Corp. 2, Gap Inc., (The) 5, Garmin Ltd. 2, General Motors Company 32,615 1,253 1,535 Genuine Parts Company 3, Goodyear Tire & Rubber Company, (The) 6, H&R Block Inc. 5, Hanesbrands Inc. 9, Harley-Davidson Inc. 4, Harman International Industries Incorporated 1, Hasbro Inc. 2, Interpublic Group of Companies Inc., (The) 9, Johnson Controls Inc. 15, Kohl's Corporation 4, L Brands Inc. 5, Leggett & Platt, Incorporated 3, Lennar Corporation 4, Lowe's Companies Inc. 21, ,235 Macy's, Inc. 7, Marriott International Inc. 4, Mattel Inc. 7, McDonald's Corporation 21,215 1,948 3,469 Michael Kors Holdings Limited 4, Mohawk Industries, Inc. 1, Netflix, Inc. 9, ,570 Newell Rubbermaid Inc. 6, News Corporation, A 8, News Corporation, B 2, NIKE Inc., B 31,122 1,042 2,692 Nordstrom, Inc. 3, Omnicom Group Inc. 5, O'Reilly Automotive Inc. 2, PulteGroup, Inc. 7, PVH Corp. 1,

39 Shares Ralph Lauren Corporation 1, Ross Stores, Inc. 9, Royal Caribbean Cruises Ltd. 3, Scripps Networks Interactive, Inc. 2, Signet Jewelers Limited 1, Staples Inc. 14, Starbucks Corporation 34,348 1,133 2,854 Starwood Hotels & Resorts Worldwide, Inc. 3, Target Corporation 14, ,427 TEGNA Inc. 5, The Home Depot, Inc. 29,274 2,074 5,358 The Priceline Group Inc. 1, ,031 Tiffany & Co. 2, Time Warner Cable Inc., A 6, ,692 Time Warner Inc. 18,469 1,163 1,653 TJX Companies Inc., (The) 15, ,519 Tractor Supply Company 3, TripAdvisor, Inc. 2, Twenty-First Century Fox, Inc. 9, Twenty-First Century Fox, Inc., A 27, ,020 Under Armour, Inc., A 4, Urban Outfitters Inc. 2, V.F. Corp. 7, Viacom Inc., B 7, Walt Disney Company, (The) 35,148 2,448 5,112 Whirlpool Corp. 1, Wyndham Worldwide Corporation 2, Wynn Resorts, Limited 1, YUM! Brands, Inc. 9, ,001 CONSUMER STAPLES 9.87% Altria Group Inc. 45,328 1,965 3,652 Archer Daniels Midland Company 13, Brown-Forman Corporation, B 2, Campbell Soup Company 4, Church & Dwight Inc 3, Clorox Company, (The) 2, Coca-Cola Company, (The) 90,391 3,558 5,374 Coca-Cola Enterprises Inc. 4, Colgate-Palmolive Company 20,662 1,234 1,905 ConAgra Foods Inc. 9, Constellation Brands, Inc., A 3, Costco Wholesale Corporation 10,089 1,081 2,255 CVS Health Corp. 25,585 1,679 3,462 Dr Pepper Snapple Group, Inc. 4, Estée Lauder Companies Inc., (The), A 5, General Mills Inc. 13, ,097 Hormel Foods Corporation 3, J. M. Smucker Company, (The) 2, Kellogg Company 5, Manulife Asset Management US Equity Direct Index Registered Fund (expressed in thousands of dollars) Shares Keurig Green Mountain, Inc. 2, Kimberly-Clark Corporation 8, ,473 Kroger Co., (The) 22, ,314 McCormick & Company, Incorporated, Non-voting 2, Mead Johnson Nutrition Company 4, Molson Coors Brewing Company, B 3, Mondelez International, Inc. 36,615 1,343 2,272 Monster Beverage Corporation 3, PepsiCo Inc. 33,722 2,823 4,663 Philip Morris International Inc. 35,818 2,931 4,358 Procter & Gamble Company, (The) 62,855 5,007 6,908 Reynolds American Inc. 19, ,215 Sysco Corporation 12, The Hershey Corporation 3, The Kraft Heinz Company 13,642 1,232 1,374 Tyson Foods, Inc. 6, Walgreens Boots Alliance, Inc. 20,060 1,221 2,364 Wal-Mart Stores Inc. 36,226 2,641 3,073 Whole Foods Market Inc. 7, HEALTH CARE 14.87% Abbott Laboratories 34,579 1,692 2,149 AbbVie Inc. 37,709 1,974 3,092 Aetna Inc. 8, ,198 Agilent Technologies Inc. 7, Alexion Pharmaceuticals, Inc. 5, ,371 Allergan Public Limited Company 9,108 2,344 3,939 AmerisourceBergen Corporation 4, Amgen Inc. 17,406 1,896 3,911 Anthem, Inc. 6, ,159 Baxalta Incorporated 12, Baxter International Inc. 12, Becton, Dickinson and Company 4, ,052 Biogen Idec Inc. 5,156 1,129 2,186 Boston Scientific Corporation 30, Bristol-Myers Squibb Company 38,551 1,772 3,670 C.R. Bard Inc. 1, Cardinal Health Inc. 7, Celgene Corporation 18,148 1,194 3,008 Cerner Corporation 7, CIGNA Corporation 5, ,197 DaVita HealthCare Partners Inc. 3, DENTSPLY International Inc. 3, Edwards Lifesciences Corporation 4, Eli Lilly and Company 22,589 1,343 2,634 Endo Health Solutions Inc. 4, Express Scripts Holding Co. 15,707 1,043 1,900 Gilead Sciences, Inc. 33,324 2,102 4,667 HCA Holdings, Inc. 7,

40 POOLED AND INDEXED FUNDS Manulife Asset Management US Equity Direct Index Registered Fund (expressed in thousands of dollars) Shares Henry Schein, Inc. 1, Humana Inc. 3, Illumina, Inc. 3, Intuitive Surgical, Inc Johnson & Johnson 63,933 5,822 9,089 Laboratory Corporation of America Holdings 2, Mallinckrodt plc 2, McKesson Corporation 5, ,456 Medtronic Public Limited Company 32,463 2,254 3,456 Merck & Co., Inc. 64,660 3,303 4,727 Mylan N.V. 9, Patterson Companies Inc. 2, PerkinElmer, Inc. 2, Perrigo Company 3, Pfizer Inc. 142,641 4,114 6,373 Quest Diagnostics Incorporated 3, Regeneron Pharmaceuticals, Inc. 1, ,356 St. Jude Medical, Inc. 6, Stryker Corporation 7, Tenet Healthcare Corporation 2, Thermo Fisher Scientific Inc. 9, ,819 UnitedHealth Group Incorporated 22,031 1,660 3,587 Universal Health Services Inc., B 2, Varian Medical Systems, Inc. 2, Vertex Pharmaceuticals Incorporated 5, Waters Corporation 1, Zimmer Holdings Inc. 3, Zoetis Inc. 10, FINANCIALS 16.06% ACE Limited 7, ,202 Affiliated Managers Group, Inc. 1, AFLAC Incorporated 9, Allstate Corporation, (The) 8, American Express Company 19,303 1,409 1,858 American International Group Inc. 28,579 1,915 2,451 American Tower Corporation 9, ,304 Ameriprise Financial, Inc. 4, Aon plc 6, Apartment Investment and Management Company 3, Assurant, Inc. 1, AvalonBay Communities Inc. 3, Bank of America Corporation 240,323 4,013 5,598 Bank of New York Mellon Corporation, (The) 25, ,449 BB&T Corporation 17, Berkshire Hathaway Inc, B 43,267 5,154 7,907 BlackRock, Inc. 2, ,386 Boston Properties, Inc. 3, Capital One Financial Corporation 12, ,222 Shares CB Richard Ellis Group, Inc., A 6, Charles Schwab Corporation, (The) 27, ,253 Chubb Corporation, (The) 5, Cincinnati Financial Corporation 3, Citigroup Inc. 68,786 3,952 4,927 CME Group Inc. 7, Comerica Incorporated 4, Crown Castle International Corp. 7, Discover Financial Services LLC 9, E*TRADE Financial Corporation 6, Equity Residential 8, Essex Property Trust, Inc. 1, Fifth Third Bancorp 18, Franklin Resources Inc. 8, General Growth Properties, Inc. 13, Goldman Sachs Group, Inc., (The) 9,151 1,548 2,283 Hartford Financial Services Group Inc., (The) 9, HCP, Inc. 10, Health Care REIT, Inc. 8, Host Hotels & Resorts, Inc. 17, Huntington Bancshares Incorporated 18, Intercontinental Exchange, Inc. 2, Invesco Ltd. 9, Iron Mountain Incorporated 4, J.P. Morgan Chase & Co. 85,142 4,627 7,781 KeyCorp 19, Kimco Realty Corporation 9, Legg Mason, Inc. 2, Leucadia National Corp. 7, Lincoln National Corporation 5, Loews Corporation 6, M&T Bank Corporation 3, Marsh & McLennan Companies, Inc. 12, McGraw Hill Financial, Inc. 6, MetLife Inc. 25,638 1,292 1,711 Moody's Corporation 4, Morgan Stanley 34,983 1,204 1,540 Navient Corporation 8, Northern Trust Corporation 5, People's United Financial, Inc. 7, Plum Creek Timber Company, Inc. 4, PNC Financial Services Group, (The) 11, ,555 Principal Financial Group 6, Progressive Corporation, (The) 13, Prologis, Inc. 12, Prudential Financial Inc. 10, ,167 Public Storage, Inc. 3, ,179 Realty Income Corporation 5, Regions Financial Corporation 30,

41 Shares Simon Property Group, Inc. 7,189 1,104 1,935 SL Green Realty Corp. 2, State Street Corporation 9, SunTrust Banks 11, Synchrony Financial 19, T. Rowe Price Group Inc. 5, The Macerich Company 3, The NASDAQ OMX Group, Inc. 2, Torchmark Corporation 2, Travelers Companies, Inc., (The) 6, ,093 U.S. Bancorp 37,997 1,445 2,244 Unum Group 5, Ventas, Inc. 7, Vornado Realty Trust 4, Wells Fargo & Company 107,233 4,793 8,068 Weyerhaeuser Company 11, XL Group plc 6, Zions Bancorporation 4, INFORMATION TECHNOLOGY 20.40% Accenture plc, A 14,482 1,143 2,095 Activision Blizzard, Inc. 11, Adobe Systems Incorporated 11, ,508 Akamai Technologies, Inc. 4, Alliance Data Systems Corporation 1, Alphabet Inc., A 6,732 4,521 7,249 Alphabet Inc., C 6,866 4,377 7,211 Amphenol Corporation, A 7, Analog Devices Inc. 7, Apple Inc. 128,826 9,801 18,767 Applied Materials Inc. 26, Autodesk, Inc. 5, Automatic Data Processing Inc. 10, ,254 Avago Technologies Limited 6, ,222 Broadcom Corporation 12, ,027 CA Inc. 7, Cisco Systems Inc. 117,370 2,898 4,411 Citrix Systems Inc. 3, Cognizant Technology Solutions Corporation 13, ,162 Corning Incorporated 27, CSRA Inc. 3, ebay Inc. 25,729 1, Electronic Arts Inc. 7, EMC Corporation 44,836 1,156 1,594 Equinix, Inc. 1, F5 Networks, Inc. 1, Facebook, Inc., A 52,466 4,028 7,600 Fidelity National Information Services, Inc. 6, First Solar, Inc. 1, Fiserv Inc. 5, Manulife Asset Management US Equity Direct Index Registered Fund (expressed in thousands of dollars) Shares FLIR Systems, Inc. 3, Harris Corporation 2, Hewlett Packard Enterprise Company 41, Hewlett-Packard Company 41,473 1, Intel Corporation 109,133 3,011 5,203 International Business Machines Corporation 20,568 3,612 3,918 Intuit Inc. 6, Juniper Networks Inc. 8, KLA-Tencor Corporation 3, Lam Research Corporation 3, Linear Technology Corporation 5, MasterCard Incorporated, A 22,910 1,433 3,087 Microchip Technology Incorporated 4, Micron Technology Inc. 24, Microsoft Corporation 184,580 7,199 14,173 Motorola Solutions, Inc. 3, NetApp, Inc. 6, NVIDIA Corporation 11, Oracle Corporation 73,997 2,709 3,741 Paychex Inc. 7, PayPal Holdings, Inc. 25,459 1,368 1,276 Qorvo 3, Qualcomm Incorporated 34,731 2,390 2,403 Red Hat, Inc. 4, salesforce.com, Inc. 14, ,568 Sandisk Corporation 4, Seagate Technology 6, Skyworks Solutions, Inc. 4, Symantec Corporation 15, TE Connectivity Ltd. 8, Teradata Corporation 3, Texas Instruments Incorporated 23, ,787 Total System Services, Inc. 3, VeriSign Inc. 2, Visa Inc. 45,005 2,062 4,830 Western Digital Corporation 5, Western Union Co. 11, Xerox Corporation 21, Xilinx Inc. 5, Yahoo! Inc. 19, TELECOMMUNICATIONS 2.38% AT&T Inc. 142,102 5,274 6,767 CenturyLink, Inc. 12, Frontier Communications Corporation 26, Level 3 Communications, Inc. 6, Verizon Communications Inc. 93,973 4,629 6,011 UTILITIES 2.93% AES Corporation, (The) 15, AGL Resources, Inc. 2,

42 POOLED AND INDEXED FUNDS Shares Ameren Corporation 5, American Electric Power Company Inc. 11, CenterPoint Energy, Inc. 9, CMS Energy Corporation 6, Consolidated Edison Inc. 6, Dominion Resources Inc. 13, ,300 DTE Energy Company 4, Duke Energy Corporation 16,040 1,155 1,585 Edison International 7, Entergy Corporation 4, Eversource Energy 7, Exelon Corporation 21, FirstEnergy Corp. 9, NextEra Energy, Inc. 10, ,542 NiSource Inc. 7, NRG Energy, Inc. 7, Pepco Holdings Inc. 5, PG&E Corporation 11, Pinnacle West Capital Corporation 2, PPL Corporation 15, Manulife Asset Management US Equity Direct Index Registered Fund (expressed in thousands of dollars, except par values) Par value or shares Public Service Enterprise Group Incorporated 11, SCANA Corp 3, Sempra Energy 5, Southern Company 21, ,374 TECO Energy, Inc. 5, WEC Energy Group Inc. 7, Xcel Energy Inc. 11, TRUST UNITS 0.27% SPDR S&P 500 ETF 5,646 1,454 1,593 TOTAL EQUITIES 98.38% 373, ,999 SHORT-TERM INVESTMENTS Freddie Mac, Discount Notes, 0.152%, 2016/02/05 3,900,000 5,133 5,396 TOTAL SHORT-TERM INVESTMENTS 0.92% 5,133 5,396 Transaction s (86) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.30% 378, ,395 Derivative assets and liabilities (1) (0.01%) - (34) Other assets, less liabilities 0.71% 4,041 4,041 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 382, ,402 (1) Derivative assets and liabilities Futures contracts / Maturity date Number of contracts Contracted value Unrealized gain/(loss) Derivative liabilities Standard & Poor s E-Mini 500 Index Futures, 2016/ ,147 12,113 (34) Derivative assets and liabilities (34) % of net assets attributable to contractholders as at December 31, 2014 Equities Energy 8.36 Industrials Consumer discretionary Consumer staples 9.70 Health care Financials Information technology Other 9.32 Short-term investments - Other assets, less liabilities

43 Manulife SLI US Equity Non-Registered Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 7,579 6,199 Cash Subscriptions receivable 2 43 Receivable from investments sold - 47 Interest, dividends and other receivables 4 7 7,715 6,414 LIABILITIES Current liabilities Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 7,715 6,406 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Dividends Foreign exchange gain (loss) 8 5 investments and derivatives 1,336 1,127 1,486 1,308 EXPENSES Custodian fees 1 1 Other operating expenses 4 7 Foreign withholding taxes Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS 1,462 1,284 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 6,406 5,603 ATTRIBUTABLE TO CONTRACTHOLDERS 1,462 1,284 CAPITAL UNIT TRANSACTIONS Units sold 2,056 1,466 Units redeemed (2,209) (1,947) Net capital unit transactions (153) (481) end of year 7,715 6,406 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 1,462 1,284 Adjustments for: Foreign exchange gain (loss) (8) (5) investments and derivatives (1,336) (1,127) Purchase of investments (17,766) (6,588) Proceeds from sale and maturity of investments 17,761 6,968 (Increase) decrease in interest, dividends and other receivables 3 (3) Net cash from operating activities Cash flows used in financing activities Proceeds from sale of units 2,097 1,427 Payments for units redeemed (2,209) (1,948) Net cash used in financing activities (112) (521) Foreign exchange gain (loss) 8 5 Net increase (decrease) in cash Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Dividend received, net of withholding taxes

44 POOLED AND INDEXED FUNDS Manulife SLI US Equity Non-Registered Fund (expressed in thousands of dollars) Shares EQUITIES ENERGY 5.22% Chevron Corporation Concho Resources Inc EOG Resources Inc Gulfport Energy Corporation Halliburton Company 1, Hess Corporation 1, Occidental Petroleum Corporation MATERIALS 2.69% Martin Marietta Materials, Inc Steel Dynamics, Inc. 1, Stillwater Mining Company 2, W.R. Grace & Co INDUSTRIALS 7.98% Allegion Public Limited Company 1, Delta Air Lines Inc. 1, Fortune Brands Home & Security, Inc. 2, Ingersoll-Rand plc Lockheed Martin Corporation Union Pacific Corporation CONSUMER DISCRETIONARY 14.45% Advance Auto Parts, Inc Amazon.com, Inc Comcast Corporation, A 2, Hanesbrands Inc. 2, Newell Rubbermaid Inc. 2, The Home Depot, Inc. 1, TJX Companies Inc., (The) 1, Visteon Corporation CONSUMER STAPLES 7.30% Colgate-Palmolive Company CVS Health Corp Mondelez International, Inc. 1, PepsiCo Inc The Kraft Heinz Company 1, HEALTH CARE 16.46% AbbVie Inc. 1, Aetna Inc Amgen Inc Boston Scientific Corporation 5, Bristol-Myers Squibb Company 1, Celgene Corporation Eli Lilly and Company 1, Gilead Sciences, Inc Pfizer Inc. 3, UnitedHealth Group Incorporated Vertex Pharmaceuticals Incorporated Shares FINANCIALS 16.37% American International Group Inc. 1, American Tower Corporation 1, Bank of America Corporation 4, Charles Schwab Corporation, (The) 3, Citigroup Inc. 2, Evercore Partners Inc., A First Republic Bank 1, Hartford Financial Services Group Inc., (The) 1, Lazard Ltd., A 1, Morgan Stanley 1, Springleaf Holdings, Inc Torchmark Corporation INFORMATION TECHNOLOGY 24.76% Activision Blizzard, Inc. 1, Alliance Data Systems Corporation Alphabet Inc., A Alphabet Inc., C Apple Inc. 1, Avago Technologies Limited Cavium, Inc Cognizant Technology Solutions Corporation 1, Electronic Arts Inc. 1, Equinix, Inc Facebook, Inc., A 1, FleetCor Technologies, Inc Guidewire Software, Inc Hewlett Packard Enterprise Company 2, Mobileye N.V Palo Alto Networks, Inc salesforce.com, Inc TELECOMMUNICATIONS 1.64% Verizon Communications Inc. 1, UTILITIES 1.37% CMS Energy Corporation 2, TOTAL EQUITIES 98.24% 5,578 7,579 Transaction s (5) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 98.24% 5,573 7,579 Other assets, less liabilities 1.76% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 5,709 7,715 44

45 Manulife SLI US Equity Non-Registered Fund % of net assets attributable to contractholders as at December 31, 2014 Equities Energy 6.42 Industrials Consumer discretionary Consumer staples 7.26 Health care Financials Information technology Other 4.27 Other assets, less liabilities

46 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 8,461 5,135 Subscriptions receivable 1 5 Receivable from investments sold Derivative assets 32-8,867 5,219 LIABILITIES Current liabilities Bank indebtedness Redemptions payable 5 29 Derivative liabilities NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 8,489 5,102 Net assets attributable to contractholders per unit Manulife Asset Management Hedged US Equity Index Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Foreign exchange gain (loss) 83 - investments and derivatives (135) 532 (52) 532 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS (53) 532 Increase (decrease) in net assets attributable to contractholders per unit (0.17) 2.13 STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 5,102 6,420 ATTRIBUTABLE TO CONTRACTHOLDERS (53) 532 CAPITAL UNIT TRANSACTIONS Units sold 4,397 1,422 Units redeemed (957) (3,272) Net capital unit transactions 3,440 (1,850) end of year 8,489 5,102 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders (53) 532 Adjustments for: Foreign exchange gain (loss) (83) - investments and derivatives 135 (532) Purchase of investments (5,017) (1,488) Proceeds from sale and maturity of investments 1,221 3,292 Net cash from operating activities (3,797) 1,804 Cash flows used in financing activities Proceeds from sale of units 4,401 1,417 Payments for units redeemed (981) (3,266) Net cash used in financing activities 3,420 (1,849) Foreign exchange gain (loss) 83 - Net increase (decrease) in cash (294) (45) Cash (bank indebtedness) at beginning of year (79) (34) Cash (bank indebtedness) at end of year (373) (79) 46

47 Manulife Asset Management Hedged US Equity Index Fund (expressed in thousands of dollars, except par values) Units Manulife Asset Management US Equity Direct Index Registered Fund 425,412 6,408 8,461 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.67% 6,408 8,461 Derivative assets and liabilities (1) 0.38% - 32 Other assets, less liabilities (0.05%) (4) (4) NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 6,404 8,489 (1) Derivative assets and liabilities Forward foreign currency contracts Counterparty Credit rating for counterparty Settlement date Currency buy Par value Currency sell Par value Forward rate Current rate Unrealized gain/(loss) Derivative assets Royal Bank of Canada AA- 2016/01/29 CAD 8,580,806 USD 6,177, Derivative assets and liabilities 32 47

48 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 425, ,321 Cash 15 - Subscriptions receivable Receivable from investments sold , ,783 LIABILITIES Current liabilities Bank indebtedness Redemptions payable Payable on investments purchased 15 - Accrued expenses 1 1 Other liabilities NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 426, ,352 Net assets attributable to contractholders per unit Manulife SLI International Equity Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds 10,601 9,686 investments and derivatives 56,025 (18,290) 66,626 (8,604) EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 66,548 (8,814) Increase (decrease) in net assets attributable to contractholders per unit 6.48 (0.84) STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 367, ,521 ATTRIBUTABLE TO CONTRACTHOLDERS 66,548 (8,814) CAPITAL UNIT TRANSACTIONS Units sold 112,933 87,338 Units redeemed (120,774) (105,693) Net capital unit transactions (7,841) (18,355) end of year 426, ,352 Units Manulife International Stock Fund UT 22,923, , ,821 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.94% 340, ,821 Other assets, less liabilities 0.06% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 340, ,059 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 66,548 (8,814) Adjustments for: investments and derivatives (56,025) 18,290 Purchase of investments (54,209) (50,774) Proceeds from sale and maturity of investments 52,086 59,317 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities (4) (1) Net cash from operating activities 8,396 18,018 Cash flows used in financing activities Proceeds from sale of units 112,704 87,458 Payments for units redeemed (120,748) (105,776) Net cash used in financing activities (8,044) (18,318) Net increase (decrease) in cash 352 (300) Cash (bank indebtedness) at beginning of year (337) (37) Cash (bank indebtedness) at end of year 15 (337) 48

49 Manulife SLI Global Absolute Return Strategies Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 294, ,303 Cash Subscriptions receivable , ,961 LIABILITIES Current liabilities Redemptions payable 23 7 Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 295, ,828 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds 2,887 1,279 Other income (loss) investments and derivatives 8,502 13,293 11,560 14,572 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 11,494 14,566 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 249, ,019 ATTRIBUTABLE TO CONTRACTHOLDERS 11,494 14,566 CAPITAL UNIT TRANSACTIONS Units sold 107, ,763 Units redeemed (73,081) (43,520) Net capital unit transactions 34,000 94,243 end of year 295, ,828 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 11,494 14,566 Adjustments for: investments and derivatives (8,502) (13,293) Purchase of investments (93,651) (103,799) Proceeds from sale and maturity of investments 57,151 8,444 Net cash from operating activities (33,508) (94,082) Cash flows used in financing activities Proceeds from sale of units 107, ,358 Payments for units redeemed (73,065) (43,551) Net cash used in financing activities 34,036 93,807 Net increase (decrease) in cash 528 (275) Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Units SLI Global SICAV Global Absolute Return Strategies Fund, Class Z* 25,249, , ,690 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.79% 275, ,690 Other assets, less liabilities 0.21% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 275, ,322 *Canadian dollar hedged distribution Z unit class 49

50 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION Manulife Standard Life Investments Absolute Return Global Bond Strategies Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME as at December 31 ASSETS Current assets Investments, non-derivative financial assets 1,067 1,007 Receivable from investments sold 9-1,076 1,007 LIABILITIES Current liabilities Bank indebtedness NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 1,067 1,007 Net assets attributable to contractholders per unit (note 1) INCOME Distribution income from underlying funds 9 - investments and derivatives ATTRIBUTABLE TO CONTRACTHOLDERS 30 1 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION (note 1) beginning of year 1,007 - ATTRIBUTABLE TO CONTRACTHOLDERS 30 1 CAPITAL UNIT TRANSACTIONS Units sold 51 1,014 Units redeemed (21) (8) Net capital unit transactions 30 1,006 end of year 1,067 1,007 STATEMENT OF CASH FLOWS (note 1) Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 30 1 Adjustments for: investments and derivatives (21) (1) Purchase of investments (60) (1,008) Proceeds from sale and maturity of investments 12 2 Net cash from operating activities (39) (1,006) Cash flows used in financing activities Proceeds from sale of units 51 1,014 Payments for units redeemed (21) (8) Net cash used in financing activities 30 1,006 Net increase (decrease) in cash (9) - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year (9) - Units SLI Global SICAV Absolute Return Global Bond Strategies Fund, Class Z* 101,987 1,046 1,067 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 1,046 1,067 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 1,046 1,067 *Canadian dollar hedged distribution Z unit class 50

51 Manulife Asset Management Bond Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 782, ,751 Cash Subscriptions receivable Interest, dividends and other receivables 4,507 4, , ,488 LIABILITIES Current liabilities Redemptions payable 2, Accrued expenses 2 2 Other liabilities - 5 2, NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 785, ,009 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 21,724 22,677 investments and derivatives 1,621 41,025 23,345 63,702 EXPENSES Custodian fees Interest 1 - Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 23,037 63,376 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 744, ,484 ATTRIBUTABLE TO CONTRACTHOLDERS 23,037 63,376 CAPITAL UNIT TRANSACTIONS Units sold 243, ,915 Units redeemed (224,578) (250,766) Net capital unit transactions 18,947 (73,851) end of year 785, ,009 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 23,037 63,376 Adjustments for: investments and derivatives (1,621) (41,025) Non cash interest on fixed income investments 3,656 3,670 Purchase of investments (1,224,394) (1,532,670) Proceeds from sale and maturity of investments 1,178,579 1,578,822 (Increase) decrease in interest, dividends and other receivables (153) 1,066 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities (5) (2) Net cash from operating activities (20,901) 73,237 Cash flows used in financing activities Proceeds from sale of units 243, ,979 Payments for units redeemed (222,723) (251,097) Net cash used in financing activities 20,891 (73,118) Net increase (decrease) in cash (10) 119 Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received 25,227 27,413 51

52 POOLED AND INDEXED FUNDS Manulife Asset Management Bond Fund (expressed in thousands of dollars, except par values) Par value CANADIAN BONDS FEDERAL AND FEDERALLY GUARANTEED 20.37% Canada Housing Trust No. 1, 1.850%, 2016/12/15 23,205,000 23,421 23,478 Canada Housing Trust No. 1, 1.700%, 2017/12/15 40,270,000 40,358 41,045 Canada Housing Trust No. 1, 1.250%, 2020/12/15 11,530,000 11,504 11,522 Government of Canada, 1.500%, 2017/03/01 2,000,000 2,024 2,024 Government of Canada, 2.500%, 2024/06/01 2,965,000 3,232 3,252 Government of Canada, 2.250%, 2025/06/01 40,825,000 43,261 43,892 Government of Canada, 3.500%, 2045/12/01 5,120,000 6,451 6,640 Government of Canada, 2.750%, 2048/12/01 22,540,000 24,586 25,565 Labrador Island Link Funding Trust, 3.760%, 2033/06/01 2,305,000 2,344 2,665 PROVINCIAL AND PROVINCIALLY GUARANTEED 23.23% Financement-Québec, 5.250%, 2034/06/01 11,770,000 13,046 15,136 OPB Finance Trust, 1.880%, 2022/02/24 3,255,000 3,177 3,225 Province of British Columbia, 6.350%, 2031/06/18 4,925,000 6,984 7,087 Province of British Columbia, 4.700%, 2037/06/18 3,285,000 4,229 4,124 Province of British Columbia, 2.800%, 2048/06/18 3,970,000 3,651 3,733 Province of Manitoba, 4.050%, 2045/09/05 12,115,000 12,701 13,658 Province of Nova Scotia, 5.800%, 2033/06/01 1,300,000 1,608 1,749 Province of Ontario, 2.850%, 2023/06/02 8,375,000 8,730 8,867 Province of Ontario, 3.500%, 2024/06/02 40,200,000 43,908 44,277 Province of Ontario, 2.600%, 2025/06/02 10,455,000 10,608 10,688 Province of Ontario, 4.600%, 2039/06/02 14,975,000 17,145 18,387 Province of Ontario, 3.450%, 2045/06/02 9,560,000 9,532 10,001 Province of Ontario, 2.900%, 2046/12/02 15,620,000 15,011 14,688 Province of Quebec, 6.000%, 2029/10/01 6,800,000 9,079 9,234 Province of Quebec, 5.000%, 2038/12/01 12,485,000 14,301 16,021 Province of Quebec, 3.500%, 2045/12/01 1,615,000 1,609 1,695 MUNICIPALS AND SCHOOLS 9.91% Municipal Finance Authority of British Columbia, 4.950%, 2027/12/01 2,820,000 2,813 3,418 Ontario School Boards Financing Corporation, 6.550%, 2026/10/19 7,672,104 8,178 9,523 Regional Municipality of Peel, 5.100%, 2040/06/29 1,680,000 1,711 2,104 The Regional Municipality of York, 4.000%, 2021/06/30 8,195,000 8,441 9,132 Toronto, City of, 5.050%, 2017/07/18 1,750,000 1,827 1,862 Toronto, City of, 4.950%, 2018/06/27 2,550,000 2,576 2,791 Toronto, City of, 4.700%, 2041/06/10 5,200,000 5,820 6,181 Par value Ville de Montréal, 5.000%, 2018/12/01 12,970,000 13,333 14,315 Ville de Montréal, 4.500%, 2021/12/01 13,170,000 13,200 14,923 Ville de Montréal, 4.250%, 2032/12/01 6,960,000 6,919 7,668 Ville de Montréal, 4.100%, 2034/12/01 3,405,000 3,388 3,657 Winnipeg, City of, 5.200%, 2036/07/17 1,895,000 1,890 2,355 CORPORATE 40.83% 407 International Inc., 5.750%, 2036/02/14 1,830,000 2,244 2,269 Alliance Pipeline Limited Partnership, 7.217%, 2025/12/31 3,078,935 3,225 3,632 AltaGas Ltd., 4.500%, 2044/08/15 1,825,000 1,676 1,602 Bank of Montreal, 3.120%, 2024/09/19 2,550,000 2,568 2,569 Bank of Nova Scotia, (The), 2.598%, 2017/02/27 4,665,000 4,704 4,740 Bank of Nova Scotia, (The), 2.370%, 2018/01/11 5,480,000 5,506 5,585 Bank of Nova Scotia, (The), 2.580%, 2027/03/30 5,125,000 5,124 4,854 Bell Canada, 5.000%, 2017/02/15 8,003,000 8,264 8,305 Bell Canada, 4.880%, 2018/04/26 9,720,000 10,278 10,393 Bell Canada, 3.350%, 2023/03/22 2,310,000 2,307 2,364 Bell Canada, 7.850%, 2031/04/02 2,275,000 2,694 3,056 Bell Canada, 4.750%, 2044/09/29 7,150,000 7,086 7,048 Brookfield Infrastructure Finance ULC, 3.538%, 2020/10/30 2,190,000 2,190 2,206 Caisse centrale Desjardins, 1.748%, 2020/03/02 11,855,000 11,764 11,779 Cameco Corporation, 3.750%, 2022/11/14 1,935,000 1,935 1,987 Canadian Hydro Developers, Inc., 7.027%, 2018/06/11 4,300,000 4,300 4,315 Canadian Imperial Bank of Commerce, 2.350%, 2017/10/18 10,370,000 10,453 10,560 Canadian Imperial Bank of Commerce, 2.350%, 2019/06/24 8,700,000 8,952 8,906 Canadian Imperial Bank of Commerce, 3.000%, 2024/10/28 3,765,000 3,764 3,776 Capital Desjardins Inc., 5.187%, 2020/05/05 2,600,000 2,864 2,906 Choice Properties Limited Partnership, 3.000%, 2017/04/20 1,805,000 1,824 1,830 Choice Properties Limited Partnership, 3.600%, 2020/04/20 5,290,000 5,398 5,576 Choice Properties Real Estate Investment Trust, 4.903%, 2023/07/05 1,025,000 1,094 1,143 Choice Properties Real Estate Investment Trust, 4.293%, 2024/02/08 1,435,000 1,435 1,531 Enbridge Inc., 4.240%, 2042/08/27 3,815,000 3,747 3,142 Enbridge Pipelines Inc., 4.550%, 2045/09/29 190, Enbridge Southern Lights LP, 4.014%, 2040/06/30 1,653,073 1,653 1,776 Ford Credit Canada Limited, 2.634%, 2016/11/21 11,935,000 11,970 12,025 Ford Credit Canada Limited, 3.700%, 2018/08/02 8,175,000 8,368 8,460 General Motors Financial Company of Canada, Ltd., 3.080%, 2020/05/22 5,680,000 5,678 5,691 52

53 Manulife Asset Management Bond Fund (expressed in thousands of dollars, except par values) Par value Great-West Lifeco Inc., 4.650%, 2020/08/13 9,350,000 10,503 10,488 Health Montréal Collective Limited Partnership, 6.721%, 2049/09/30 3,205,000 3,205 4,171 HSBC Bank Canada, 3.558%, 2017/10/04 3,410,000 3,490 3,529 HSBC Bank Canada, 2.908%, 2021/09/29 3,580,000 3,590 3,658 IGM Financial Inc., 7.350%, 2019/04/08 3,595,000 3,887 4,206 Inter Pipeline Ltd., 4.637%, 2044/05/30 1,800,000 1,776 1,763 Laurentian Bank of Canada, 3.278%, 2018/10/15 1,950,000 1,950 2,009 Laurentian Bank of Canada, 2.810%, 2019/06/13 5,550,000 5,549 5,646 Laurentian Bank of Canada, 2.500%, 2020/01/23 3,940,000 3,935 3,930 Loblaw Companies Limited, 4.860%, 2023/09/12 3,560,000 3,660 4,002 Loblaw Companies Limited, 5.900%, 2036/01/18 3,275,000 3,496 3,802 Magna International Inc., 3.100%, 2022/12/15 565, National Bank of Canada, 1.742%, 2020/03/03 2,350,000 2,352 2,336 North Battleford Power L.P., 4.958%, 2032/12/31 3,466,084 3,466 3,948 NorthwestConnect General Partnership, 5.950%, 2041/04/30 4,003,119 4,024 4,964 Pembina Pipeline Corporation, 4.810%, 2044/03/25 1,395,000 1,394 1,304 RioCan Real Estate Investment Trust, 3.850%, 2019/06/28 4,550,000 4,820 4,806 RioCan Real Estate Investment Trust, 3.287%, 2024/02/12 775, Rogers Communications Inc., 6.560%, 2041/03/22 4,255,000 4,810 5,178 Royal Bank of Canada, 2.580%, 2017/04/13 8,930,000 9,006 9,086 Royal Bank of Canada, 2.820%, 2018/07/12 8,680,000 8,818 8,965 Royal Bank of Canada, 3.040%, 2024/07/17 11,675,000 11,681 11,747 Royal Bank of Canada, 3.450%, 2026/09/29 3,280,000 3,317 3,286 Shaw Communications Inc., 5.500%, 2020/12/07 2,460,000 2,675 2,761 Sobeys Inc., 4.700%, 2023/08/08 2,730,000 2,791 2,977 Sun Life Financial Inc., 4.570%, 2021/08/23 1,335,000 1,335 1,492 Sun Life Financial Inc., 2.600%, 2025/09/25 13,670,000 13,680 13,675 TELUS Corporation, 4.950%, 2017/03/15 4,010,000 4,148 4,170 TELUS Corporation, 3.750%, 2026/03/10 560, TELUS Corporation, 5.150%, 2043/11/26 2,830,000 2,816 2,900 TELUS Corporation, 4.850%, 2044/04/05 1,000, TELUS Corporation, 4.750%, 2045/01/17 1,330,000 1,325 1,282 The Manufacturers Life Insurance Company, 2.819%, 2023/02/26 2,505,000 2,507 2,558 The Manufacturers Life Insurance Company, 2.811%, 2024/02/21 3,020,000 3,020 3,090 The Manufacturers Life Insurance Company, 3.181%, 2027/11/22 7,900,000 7,900 8,022 Par value Thomson Reuters Corporation, 3.309%, 2021/11/12 5,435,000 5,438 5,575 Toronto-Dominion Bank, (The), 2.171%, 2018/04/02 3,650,000 3,664 3,714 Toronto-Dominion Bank, (The), 5.828%, 2023/07/09 4,605,000 5,062 5,056 Toronto-Dominion Bank, (The), 2.982%, 2025/09/30 755, Toronto-Dominion Bank, (The), 4.779%, 2105/12/14 8,885,000 9,014 9,125 Wells Fargo Financial Canada Corporation, 2.774%, 2017/02/09 3,795,000 3,816 3,861 ASSET-BACKED SECURITIES 1.66% Glacier Credit Card Trust, 2.394%, 2017/10/20 3,550,000 3,553 3,609 Master Credit Card Trust, 2.626%, 2017/01/21 9,275,000 9,300 9,418 TOTAL CANADIAN BONDS 96.00% 730, ,536 U.S. BONDS CORPORATE 2.83% Citigroup Inc., 3.390%, 2021/11/18 3,300,000 3,299 3,430 Goldman Sachs Group, Inc., (The), 3.375%, 2018/02/01 4,365,000 4,394 4,522 JPMorgan Chase & Co., 2.920%, 2017/09/19 8,760,000 8,825 8,984 JPMorgan Chase & Co., 3.190%, 2021/03/05 5,065,000 5,088 5,288 TOTAL U.S. BONDS 2.83% 21,606 22,224 FOREIGN BONDS SUPRANATIONALS 0.21% Inter-American Development Bank, 4.400%, 2026/01/26 1,390,000 1,331 1,622 TOTAL FOREIGN BONDS 0.21% 1,331 1,622 SHORT-TERM INVESTMENTS Banner Trust, 0.650%, 2016/01/04 4,150,000 4,150 4,149 TOTAL SHORT-TERM INVESTMENTS 0.53% 4,150 4,149 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.57% 757, ,531 Other assets, less liabilities 0.43% 3,462 3,462 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 760, ,993 % of net assets attributable to contractholders as at December 31, 2014 Canadian bonds Federal and federally guaranteed Provincial and provincially guaranteed Municipals and schools Corporate Other 2.84 U.S. Bonds 2.89 Foreign bonds 0.22 Short-term investments 0.26 Other assets, less liabilities

54 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 25,765 27,218 Subscriptions receivable - 77 Receivable from investments sold 46-25,811 27,295 LIABILITIES Current liabilities Bank indebtedness 17 - Redemptions payable - 2 Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 25,765 27,293 Net assets attributable to contractholders per unit Manulife Asset Management Short Term Bond Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds investments and derivatives (180) EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 27,293 8,787 ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 7,541 21,552 Units redeemed (9,817) (3,458) Net capital unit transactions (2,276) 18,094 end of year 25,765 27,293 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives 180 (57) Purchase of investments (6,422) (21,214) Proceeds from sale and maturity of investments 7,678 2,839 Net cash from operating activities 2,184 (18,020) Cash flows used in financing activities Proceeds from sale of units 7,618 21,476 Payments for units redeemed (9,819) (3,456) Net cash used in financing activities (2,201) 18,020 Net increase (decrease) in cash (17) - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year (17) - Units Manulife Asset Management Short-Term Bond Pooled Fund 260,079 25,994 25,765 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 25,994 25,765 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 25,994 25,765 54

55 Manulife Asset Management Long Term Bond Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 682, ,381 Cash Cash margin Subscriptions receivable 1,866 1,150 Interest, dividends and other receivables 3,920 4, , ,254 LIABILITIES Current liabilities Redemptions payable Accrued expenses 2 - Other liabilities NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 688, ,694 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 23,940 22,568 Distribution income from underlying funds Foreign exchange gain (loss) investments and derivatives (1,664) 70,399 22,659 93,491 EXPENSES Custodian fees Interest 1 - Other operating expenses Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS 22,428 93,423 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 688, ,352 ATTRIBUTABLE TO CONTRACTHOLDERS 22,428 93,423 CAPITAL UNIT TRANSACTIONS Units sold 114, ,708 Units redeemed (136,746) (278,789) Net capital unit transactions (22,493) 121,919 end of year 688, ,694 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 22,428 93,423 Adjustments for: Foreign exchange gain (loss) (57) (413) investments and derivatives 1,664 (70,399) Non cash interest on fixed income investments 1,722 1,478 Purchase of investments (1,547,683) (2,594,659) Proceeds from sale and maturity of investments 1,544,935 2,445,233 (Increase) decrease in cash margin 92 (108) (Increase) decrease in interest, dividends and other receivables 525 (815) Increase (decrease) in accrued expenses, other liabilities and payable secured by securities 1 (1) Net cash from operating activities 23,627 (126,261) Cash flows used in financing activities Proceeds from sale of units 113, ,116 Payments for units redeemed (137,286) (278,347) Net cash used in financing activities (23,749) 125,769 Foreign exchange gain (loss) Net increase (decrease) in cash (65) (79) Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received 26,187 23,231 55

56 POOLED AND INDEXED FUNDS Manulife Asset Management Long Term Bond Fund (expressed in thousands of dollars, except par values) Par value CANADIAN BONDS FEDERAL AND FEDERALLY GUARANTEED 16.71% Canada Housing Trust No. 1, 2.250%, 2025/12/15 15,670,000 15,765 15,948 Government of Canada, 5.750%, 2029/06/01 14,005,000 20,298 20,600 Government of Canada, 3.500%, 2045/12/01 38,160,000 48,433 49,492 Government of Canada, 2.750%, 2048/12/01 15,200,000 16,925 17,240 Labrador Island Link Funding Trust, 3.760%, 2033/06/01 3,100,000 3,162 3,584 Muskrat Falls/Labrador Transmission Assets Funding Trust, 3.830%, 2037/06/01 7,070,000 7,310 8,239 PROVINCIAL AND PROVINCIALLY GUARANTEED 50.33% Financement-Québec, 5.250%, 2034/06/01 10,100,000 11,612 12,988 Province of Alberta, 2.350%, 2025/06/01 2,185,000 2,254 2,181 Province of Alberta, 3.450%, 2043/12/01 3,825,000 3,988 3,946 Province of British Columbia, 2.850%, 2025/06/18 11,380,000 11,820 12,007 Province of British Columbia, 4.700%, 2037/06/18 2,905,000 3,740 3,647 Province of British Columbia, 4.300%, 2042/06/18 23,020,000 24,699 27,961 Province of British Columbia, 2.800%, 2048/06/18 9,365,000 8,605 8,807 Province of Manitoba, 4.600%, 2038/03/05 12,030,000 13,173 14,391 Province of Manitoba, 4.050%, 2045/09/05 6,165,000 6,512 6,950 Province of New Brunswick, 5.500%, 2034/01/27 7,050,000 8,242 9,157 Province of New Brunswick, 4.550%, 2037/03/26 4,945,000 5,484 5,779 Province of Nova Scotia, 5.800%, 2033/06/01 2,220,000 2,745 2,986 Province of Ontario, 2.600%, 2025/06/02 30,990,000 31,410 31,680 Province of Ontario, 6.500%, 2029/03/08 4,910,000 6,909 6,920 Province of Ontario, 5.850%, 2033/03/08 1,220,000 1,567 1,677 Province of Ontario, 4.650%, 2041/06/02 32,045,000 37,557 39,982 Province of Ontario, 3.450%, 2045/06/02 36,490,000 36,012 38,174 Province of Ontario, 2.900%, 2046/12/02 25,590,000 24,025 24,064 Province of Quebec, 2.750%, 2025/09/01 6,530,000 6,696 6,746 Province of Quebec, 6.000%, 2029/10/01 6,010,000 7,327 8,161 Province of Quebec, 5.000%, 2038/12/01 4,475,000 5,618 5,742 Province of Quebec, 5.000%, 2041/12/01 35,940,000 42,889 46,859 Province of Quebec, 3.500%, 2045/12/01 9,815,000 9,618 10,301 Province of Saskatchewan, 4.750%, 2040/06/01 5,935,000 6,595 7,401 Province of Saskatchewan, 3.900%, 2045/06/02 3,490,000 4,339 3,902 Province of Saskatchewan, 2.750%, 2046/12/02 4,620,000 4,286 4,157 Par value MUNICIPALS AND SCHOOLS 4.39% Municipal Finance Authority of British Columbia, 4.950%, 2027/12/01 1,445,000 1,453 1,751 Ontario School Board Trust, 5.900%, 2033/06/02 1,440,000 1,637 1,914 Toronto, City of, 5.200%, 2040/06/01 10,305,000 12,202 13,022 Toronto, City of, 4.150%, 2044/03/10 2,725,000 2,711 3,003 Ville de Montréal, 4.250%, 2032/12/01 9,575,000 9,608 10,549 CORPORATE 23.45% 407 International Inc., 5.960%, 2035/12/03 3,110,000 3,723 4, International Inc., 5.750%, 2036/02/14 2,735,000 3,352 3, International Inc., 4.450%, 2041/11/15 1,980,000 1,970 2,164 Aéroports de Montréal, 5.670%, 2037/10/16 3,535,000 4,105 4,563 Alliance Pipeline Limited Partnership, 7.217%, 2025/12/31 595, AltaGas Ltd., 4.500%, 2044/08/15 3,800,000 3,494 3,336 AltaLink, L.P., 4.054%, 2044/11/21 3,000,000 3,000 3,023 Arrow Lakes Power Corporation, 5.516%, 2041/04/05 1,270,000 1,288 1,475 Bell Canada, 3.350%, 2023/03/22 20, Bell Canada, 6.170%, 2037/02/26 3,345,000 3,537 3,942 Bell Canada, 4.750%, 2044/09/29 2,650,000 2,627 2,612 British Columbia Ferry Services Inc., 6.250%, 2034/10/13 2,340,000 2,964 3,122 British Columbia Ferry Services Inc., 5.581%, 2038/01/11 1,725,000 1,960 2,154 Choice Properties Real Estate Investment Trust, 4.293%, 2024/02/08 1,890,000 1,925 2,016 CU Inc., 5.580%, 2038/05/26 390, CU Inc., 4.085%, 2044/09/02 7,080,000 7,159 7,194 Enbridge Inc., 5.750%, 2039/09/02 1,830,000 2,033 1,868 Enbridge Inc., 4.240%, 2042/08/27 4,630,000 4,579 3,814 Enbridge Pipelines Inc., 4.550%, 2043/08/17 7,115,000 7,556 7,038 Enbridge Southern Lights LP, 4.014%, 2040/06/30 1,500,187 1,501 1,612 EPCOR Utilities Inc., 6.650%, 2038/04/15 4,130,000 5,542 5,712 EPCOR Utilities Inc., 4.550%, 2042/02/28 2,500,000 2,722 2,743 Fortis Inc., 6.510%, 2039/07/04 795, ,040 FortisAlberta Inc., 5.370%, 2039/10/30 2,505,000 3,074 3,013 FortisBC Energy (Vancouver Island) Inc., 6.050%, 2038/02/15 475, FortisBC Energy (Vancouver Island) Inc., 5.200%, 2040/12/06 1,270,000 1,276 1,506 FortisBC Energy Inc., 3.375%, 2045/04/13 2,325,000 2,324 2,073 George Weston Limited, 4.115%, 2024/06/17 675, Greater Toronto Airports Authority, 5.630%, 2040/06/07 3,365,000 3,969 4,378 Greater Toronto Airports Authority, 5.300%, 2041/02/25 5,740,000 6,548 7,193 56

57 Manulife Asset Management Long Term Bond Fund (expressed in thousands of dollars, except par values) Par value Great-West Lifeco Inc., 6.740%, 2031/11/24 1,405,000 1,709 1,857 Great-West Lifeco Inc., 5.998%, 2039/11/16 2,300,000 2,893 2,919 Health Montréal Collective Limited Partnership, 6.721%, 2049/09/30 1,585,000 1,710 2,063 Hospital Infrastructure Partners (NOH) Partnership, 5.439%, 2045/01/31 1,130,000 1,145 1,325 Hydro One Inc., 5.360%, 2036/05/20 3,685,000 4,303 4,432 Hydro One Inc., 4.170%, 2044/06/06 6,000,000 6,173 6,223 IGM Financial Inc., 7.450%, 2031/05/09 2,085,000 2,586 2,871 IGM Financial Inc., 6.000%, 2040/12/10 7,095,000 8,512 8,951 Inter Pipeline Ltd., 4.637%, 2044/05/30 4,420,000 4,454 4,329 Loblaw Companies Limited, 6.150%, 2035/01/29 3,380,000 3,784 4,014 NorthwestConnect General Partnership, 5.950%, 2041/04/30 2,435,941 2,849 3,021 Nova Scotia Power Incorporated, 4.500%, 2043/07/20 2,145,000 2,137 2,258 Nova Scotia Power Incorporated, 3.612%, 2045/05/01 2,935,000 2,934 2,658 Pembina Pipeline Corporation, 4.810%, 2044/03/25 3,495,000 3,491 3,266 Plenary Properties LTAP L.P., 6.288%, 2044/01/31 764, Power Financial Corporation, 6.900%, 2033/03/11 2,765,000 3,318 3,621 Scotiabank Capital Trust, 5.650%, 2056/12/31 1,600,000 1,717 1,831 Shaw Communications Inc., 6.750%, 2039/11/09 2,235,000 2,470 2,575 Sobeys Inc., 4.700%, 2023/08/08 2,265,000 2,282 2,470 Par value Spy Hill Power L.P., 4.140%, 2036/03/31 1,869,821 1,866 1,969 Sun Life Financial Inc., 5.400%, 2042/05/29 730, TELUS Corporation, 4.850%, 2044/04/05 2,265,000 2,262 2,214 TELUS Corporation, 4.750%, 2045/01/17 2,945,000 2,940 2,838 TELUS Corporation, 4.400%, 2046/01/29 2,600,000 2,599 2,347 Union Gas Limited, 5.200%, 2040/07/23 1,758,000 2,010 2,055 TOTAL CANADIAN BONDS 94.88% 624, ,403 U.S. BONDS CORPORATE 0.43% Manulife Finance (Delaware), Limited Partnership, 5.059%, 2041/12/15 2,798,000 2,837 2,931 TOTAL U.S. BONDS 0.43% 2,837 2,931 FOREIGN BONDS SUPRANATIONALS 1.79% Inter-American Development Bank, 4.400%, 2026/01/26 10,535,000 10,826 12,296 TOTAL FOREIGN BONDS 1.79% 10,826 12,296 SHORT-TERM INVESTMENTS Banner Trust, 0.650%, 2016/01/04 1,940,000 1,940 1,940 Government of Canada, 0.499%, 2016/04/21 5,300,000 5,292 5,292 Government of Canada, 0.525%, 2016/07/28 6,900,000 6,879 6,881 TOTAL SHORT-TERM INVESTMENTS 2.05% 14,111 14,113 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.15% 652, ,743 Other assets, less liabilities 0.85% 5,886 5,886 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 657, ,629 % of net assets attributable to contractholders as at December 31, 2014 Canadian bonds Federal and federally guaranteed Provincial and provincially guaranteed Municipals and schools 7.39 Corporate U.S. Bonds 1.06 Foreign bonds 1.74 Investments in underlying funds 0.48 Short-term investments 0.90 Other assets, less liabilities

58 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION Manulife Asset Management Short-Term Liability Government Bond Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME as at December 31 ASSETS Current assets Investments, non-derivative financial assets 53,471 29,086 Subscriptions receivable - 85 Receivable from investments sold ,600 29,171 LIABILITIES Current liabilities Bank indebtedness Redemptions payable NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 53,471 29,142 Net assets attributable to contractholders per unit INCOME Distribution income from underlying funds 1, investments and derivatives (287) 592 1, EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 1, Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 29,142 9,851 ATTRIBUTABLE TO CONTRACTHOLDERS 1, CAPITAL UNIT TRANSACTIONS Units sold 28,121 19,040 Units redeemed (4,986) (722) Net capital unit transactions 23,135 18,318 end of year 53,471 29,142 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 1, Adjustments for: investments and derivatives 287 (592) Purchase of investments (29,574) (19,399) Proceeds from sale and maturity of investments 4, Net cash from operating activities (23,320) (18,262) Cash flows used in financing activities Proceeds from sale of units 28,206 18,955 Payments for units redeemed (5,015) (693) Net cash used in financing activities 23,191 18,262 Net increase (decrease) in cash (129) - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year (129) - Units Manulife Asset Management Short-Term Liability Government Bond Pooled Fund 514,878 53,488 53,471 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 53,488 53,471 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 53,488 53,471 58

59 Manulife Asset Management Mid-Term Liability Government Bond Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 77,372 85,540 Subscriptions receivable - 74 Receivable from investments sold 85-77,457 85,614 LIABILITIES Current liabilities Bank indebtedness 85 - Redemptions payable NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 77,372 85,580 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds 2,681 2,086 investments and derivatives (506) 5,920 2,175 8,006 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 2,167 8,001 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 85,580 47,467 ATTRIBUTABLE TO CONTRACTHOLDERS 2,167 8,001 CAPITAL UNIT TRANSACTIONS Units sold 24,792 37,860 Units redeemed (35,167) (7,748) Net capital unit transactions (10,375) 30,112 end of year 77,372 85,580 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 2,167 8,001 Adjustments for: investments and derivatives 506 (5,920) Purchase of investments (21,438) (39,184) Proceeds from sale and maturity of investments 29,015 7,034 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities - (3) Net cash from operating activities 10,250 (30,072) Cash flows used in financing activities Proceeds from sale of units 24,866 37,786 Payments for units redeemed (35,201) (7,714) Net cash used in financing activities (10,335) 30,072 Net increase (decrease) in cash (85) - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year (85) - Units Manulife Asset Management Mid-Term Liability Government Bond Pooled Fund 746,313 76,135 77,372 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 76,135 77,372 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 76,135 77,372 59

60 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION Manulife Asset Management Long-Term Liability Government Bond Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME as at December 31 ASSETS Current assets Investments, non-derivative financial assets 92, ,853 Subscriptions receivable Receivable from investments sold 50-92, ,842 LIABILITIES Current liabilities Bank indebtedness 50 - Redemptions payable - 2, ,169 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 92, ,673 Net assets attributable to contractholders per unit INCOME Distribution income from underlying funds 4,434 2,375 investments and derivatives 585 9,063 5,019 11,438 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 5,010 11,435 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 110,673 44,057 ATTRIBUTABLE TO CONTRACTHOLDERS 5,010 11,435 CAPITAL UNIT TRANSACTIONS Units sold 20,375 65,915 Units redeemed (44,047) (10,734) Net capital unit transactions (23,672) 55,181 end of year 92, ,673 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 5,010 11,435 Adjustments for: investments and derivatives (585) (9,063) Purchase of investments (21,090) (68,405) Proceeds from sale and maturity of investments 41,467 8,491 Net cash from operating activities 24,802 (57,542) Cash flows used in financing activities Proceeds from sale of units 21,364 66,107 Payments for units redeemed (46,216) (8,565) Net cash used in financing activities (24,852) 57,542 Net increase (decrease) in cash (50) - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year (50) - Units Manulife Asset Management Long-Term Liability Government Bond Pooled Fund 881,920 88,125 92,011 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 88,125 92,011 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 88,125 92,011 60

61 Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 3,752,921 3,468,108 Cash 1, Subscriptions receivable 4,548 9,870 Receivable from investments sold 8 8 Interest, dividends and other receivables 19,979 19,540 3,778,721 3,498,474 LIABILITIES Current liabilities Redemptions payable 1,161 3,905 Payable on investments purchased 18,860 11,336 Accrued expenses 5 2 Other liabilities ,026 15,249 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 3,758,695 3,483,225 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 102,180 99,211 Other income (loss) 21 - investments and derivatives 19, , , ,695 EXPENSES Custodian fees Interest 1 - Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 120, ,391 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 3,483,225 3,050,645 ATTRIBUTABLE TO CONTRACTHOLDERS 120, ,391 CAPITAL UNIT TRANSACTIONS Units sold 1,201,612 1,027,810 Units redeemed (1,047,000) (872,621) Net capital unit transactions 154, ,189 end of year 3,758,695 3,483,225 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 120, ,391 Adjustments for: investments and derivatives (19,082) (178,484) Non cash interest on fixed income investments 14,863 13,203 Purchase of investments (3,001,810) (2,734,196) Proceeds from sale and maturity of investments 2,728,740 2,471,647 (Increase) decrease in interest, dividends and other receivables (439) (1,401) Increase (decrease) in accrued expenses, other liabilities and payable secured by securities (3) (2) Net cash from operating activities (156,873) (151,842) Cash flows used in financing activities Proceeds from sale of units 1,206,934 1,021,492 Payments for units redeemed (1,049,744) (870,284) Net cash used in financing activities 157, ,208 Net increase (decrease) in cash 317 (634) Cash (bank indebtedness) at beginning of year 948 1,582 Cash (bank indebtedness) at end of year 1, Supplemental disclosures on cash flows from operating activities Interest received 116, ,013 61

62 POOLED AND INDEXED FUNDS Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value CANADIAN BONDS FEDERAL AND FEDERALLY GUARANTEED 36.42% Canada Housing Trust No. 1, 2.050%, 2017/06/15 26,150,000 26,254 26,688 Canada Housing Trust No. 1, 1.700%, 2017/12/15 26,390,000 26,406 26,898 Canada Housing Trust No. 1, 1.750%, 2018/06/15 14,000,000 14,010 14,325 Canada Housing Trust No. 1, 2.050%, 2018/06/15 15,460,000 15,513 15,931 Canada Housing Trust No. 1, 2.350%, 2018/12/15 27,000,000 27,123 28,150 Canada Housing Trust No. 1, 4.100%, 2018/12/15 21,465,000 21,738 23,468 Canada Housing Trust No. 1, 1.950%, 2019/06/15 25,900,000 26,038 26,751 Canada Housing Trust No. 1, 2.000%, 2019/12/15 27,150,000 27,330 28,112 Canada Housing Trust No. 1, 3.750%, 2020/03/15 16,055,000 16,331 17,782 Canada Housing Trust No. 1, 1.200%, 2020/06/15 12,500,000 12,492 12,519 Canada Housing Trust No. 1, 1.450%, 2020/06/15 13,100,000 13,116 13,260 Canada Housing Trust No. 1, 1.250%, 2020/12/15 26,000,000 25,967 25,979 Canada Housing Trust No. 1, 3.350%, 2020/12/15 11,530,000 11,505 12,676 Canada Housing Trust No. 1, 3.800%, 2021/06/15 21,270,000 21,997 23,979 Canada Housing Trust No. 1, 2.650%, 2022/03/15 18,955,000 19,135 20,259 Canada Housing Trust No. 1, 2.400%, 2022/12/15 16,465,000 16,346 17,308 Canada Housing Trust No. 1, 2.350%, 2023/09/15 9,800,000 9,672 10,234 Canada Housing Trust No. 1, 3.150%, 2023/09/15 7,460,000 7,481 8,219 Canada Housing Trust No. 1, 2.900%, 2024/06/15 18,500,000 18,799 20,024 Canada Housing Trust No. 1, 2.550%, 2025/03/15 18,075,000 18,782 18,982 Canada Housing Trust No. 1, 1.950%, 2025/12/15 5,750,000 5,743 5,699 Canada Housing Trust No. 1, 2.250%, 2025/12/15 5,000,000 4,993 5,089 Canada Post Corporation, 4.360%, 2040/07/16 2,000,000 2,262 2,591 Government of Canada, 1.500%, 2017/02/01 34,350,000 34,529 34,728 Government of Canada, 1.500%, 2017/03/01 17,545,000 17,614 17,752 Par value Government of Canada, 0.250%, 2017/05/01 23,070,000 22,969 23,002 Government of Canada, 4.000%, 2017/06/01 17,840,000 18,435 18,719 Government of Canada, 1.250%, 2017/08/01 47,400,000 47,766 47,973 Government of Canada, 1.500%, 2017/09/01 24,600,000 24,660 25,013 Government of Canada, 0.250%, 2017/11/01 27,100,000 26,948 26,987 Government of Canada, 1.250%, 2018/02/01 32,600,000 32,981 33,120 Government of Canada, 1.250%, 2018/03/01 23,160,000 23,274 23,545 Government of Canada, 4.250%, 2018/06/01 23,725,000 25,121 25,854 Government of Canada, 1.250%, 2018/09/01 21,325,000 21,255 21,749 Government of Canada, 1.750%, 2019/03/01 21,310,000 21,583 22,119 Government of Canada, 3.750%, 2019/06/01 41,890,000 44,806 46,395 Government of Canada, 1.750%, 2019/09/01 21,730,000 22,373 22,633 Government of Canada, 1.500%, 2020/03/01 26,685,000 27,346 27,629 Government of Canada, 3.500%, 2020/06/01 31,994,000 34,911 35,927 Government of Canada, 0.750%, 2020/09/01 28,925,000 28,799 28,954 Government of Canada, 0.750%, 2021/03/01 12,300,000 12,127 12,244 Government of Canada, %, 2021/03/15 300, Government of Canada, 3.250%, 2021/06/01 29,495,000 32,071 33,215 Government of Canada, 2.750%, 2022/06/01 30,175,000 32,208 33,387 Government of Canada, 1.500%, 2023/06/01 29,170,000 28,978 29,850 Government of Canada, 8.000%, 2023/06/01 4,655,000 6,174 6,918 Government of Canada, 2.500%, 2024/06/01 25,590,000 27,469 28,069 Government of Canada, 2.250%, 2025/06/01 31,050,000 32,674 33,383 Government of Canada, 9.000%, 2025/06/01 2,980,000 4,031 4,984 Government of Canada, 1.500%, 2026/06/01 16,350,000 16,110 16,309 Government of Canada, 8.000%, 2027/06/01 6,572,000 10,102 10,938 Government of Canada, 5.750%, 2029/06/01 22,856,000 30,490 33,618 62

63 Par value Government of Canada, 5.750%, 2033/06/01 26,950,000 36,131 41,675 Government of Canada, 5.000%, 2037/06/01 30,042,250 40,186 44,819 Government of Canada, 4.000%, 2041/06/01 38,080,000 46,423 51,730 Government of Canada, 3.500%, 2045/12/01 34,465,000 43,564 44,700 Government of Canada, 2.750%, 2048/12/01 14,950,000 16,265 16,957 Government of Canada, 2.750%, 2064/12/01 6,571,000 6,589 7,815 Labrador Island Link Funding Trust, 3.760%, 2033/06/01 5,250,000 5,339 6,069 Labrador Island Link Funding Trust, 3.850%, 2053/12/01 2,000,000 2,038 2,462 MILIT-AIR Inc., 5.750%, 2019/06/30 649, Muskrat Falls/Labrador Transmission Assets Funding Trust, 3.630%, 2029/06/01 1,000,000 1,015 1,139 Muskrat Falls/Labrador Transmission Assets Funding Trust, 3.860%, 2048/12/01 7,250,000 7,564 8,880 PSP Capital Inc., 2.260%, 2017/02/16 7,000,000 7,073 7,112 PSP Capital Inc., 3.030%, 2020/10/22 700, PSP Capital Inc., 3.290%, 2024/04/04 3,500,000 3,531 3,780 PROVINCIAL AND PROVINCIALLY GUARANTEED 33.10% Alberta Capital Finance Authority, 4.650%, 2017/06/15 710, Cadillac Fairview Finance Trust, 3.640%, 2018/05/09 2,000,000 2,000 2,111 Cadillac Fairview Finance Trust, 4.310%, 2021/01/25 2,000,000 2,000 2,254 CDP Financial Inc., 4.600%, 2020/07/15 1,770,000 1,775 2,010 Financement-Québec, 3.500%, 2017/12/01 4,600,000 4,672 4,834 Financement-Québec, 2.400%, 2018/12/01 3,500,000 3,492 3,638 Financement-Québec, 2.450%, 2019/12/01 3,200,000 3,200 3,344 Financement-Québec, 5.250%, 2034/06/01 5,550,000 5,944 7,137 Hydro-Québec, %, 2020/08/15 2,960,000 3,706 4,224 Hydro-Québec, %, 2021/10/15 130, Hydro-Québec, 9.625%, 2022/07/15 1,238,000 1,569 1,826 Hydro-Québec, 6.000%, 2031/08/15 1,280,000 1,693 1,762 Hydro-Québec, 6.500%, 2035/02/15 4,555,000 5,528 6,715 Hydro-Québec, 6.000%, 2040/02/15 2,655,000 3,065 3,868 Hydro-Québec, 5.000%, 2045/02/15 3,470,000 3,895 4,615 Hydro-Québec, 5.000%, 2050/02/15 4,420,000 5,106 6,024 Hydro-Québec, 4.000%, 2055/02/15 1,250,000 1,345 1,464 Newfoundland and Labrador Hydro, 8.400%, 2026/02/27 705, ,065 Newfoundland and Labrador Hydro, 6.650%, 2031/08/27 1,500,000 1,650 2,132 Ontario Hydro, %, 2020/02/06 1,290,000 1,548 1,732 Ontario Hydro, %, 2020/11/27 200, Ontario Hydro, %, 2021/10/15 1,025,000 1,288 1,502 Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Ontario Hydro, 8.900%, 2022/08/18 1,650,000 2,016 2,363 Ontario Hydro, 8.500%, 2025/05/26 760, ,146 Ontario Hydro, 8.250%, 2026/06/22 1,200,000 1,545 1,822 Province of Alberta, 1.750%, 2017/06/15 2,500,000 2,499 2,537 Province of Alberta, 1.700%, 2017/12/15 5,800,000 5,800 5,901 Province of Alberta, 1.600%, 2018/06/15 2,150,000 2,129 2,187 Province of Alberta, 2.000%, 2019/06/01 1,250,000 1,249 1,287 Province of Alberta, 4.000%, 2019/12/01 2,275,000 2,269 2,515 Province of Alberta, 1.250%, 2020/06/01 7,875,000 7,823 7,843 Province of Alberta, 2.550%, 2022/12/15 5,650,000 5,515 5,879 Province of Alberta, 3.400%, 2023/12/01 1,100,000 1,099 1,203 Province of Alberta, 3.100%, 2024/06/01 1,500,000 1,500 1,603 Province of Alberta, 2.350%, 2025/06/01 7,875,000 7,925 7,859 Province of Alberta, 2.900%, 2029/09/20 4,200,000 3,910 4,215 Province of Alberta, 3.500%, 2031/06/01 3,750,000 3,816 3,972 Province of Alberta, 3.900%, 2033/12/01 3,000,000 3,155 3,312 Province of Alberta, 3.450%, 2043/12/01 7,800,000 7,951 8,046 Province of Alberta, 3.300%, 2046/12/01 1,250,000 1,261 1,259 Province of British Columbia, 4.700%, 2017/12/01 810, Province of British Columbia, 4.650%, 2018/12/18 5,395,000 5,697 5,974 Province of British Columbia, 2.250%, 2019/03/01 5,200,000 5,245 5,401 Province of British Columbia, 4.100%, 2019/12/18 5,250,000 5,473 5,838 Province of British Columbia, 3.700%, 2020/12/18 5,275,000 5,386 5,865 Province of British Columbia, 9.950%, 2021/05/15 1,170,000 1,460 1,675 Province of British Columbia, 4.800%, 2021/06/15 1,190,000 1,336 1,392 Province of British Columbia, 3.250%, 2021/12/18 5,700,000 5,903 6,239 Province of British Columbia, 2.700%, 2022/12/18 2,700,000 2,706 2,860 Province of British Columbia, 8.000%, 2023/09/08 2,450,000 3,065 3,487 Province of British Columbia, 3.300%, 2023/12/18 3,300,000 3,270 3,619 Province of British Columbia, 9.000%, 2024/08/23 500, Province of British Columbia, 2.850%, 2025/06/18 5,250,000 5,424 5,539 Province of British Columbia, 5.620%, 2028/08/17 600, Province of British Columbia, 5.700%, 2029/06/18 7,415,000 8,502 9,934 Province of British Columbia, 6.350%, 2031/06/18 3,950,000 5,150 5,684 Province of British Columbia, 5.400%, 2035/06/18 1,255,000 1,526 1,693 63

64 POOLED AND INDEXED FUNDS Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Province of British Columbia, 4.700%, 2037/06/18 2,835,000 2,935 3,559 Province of British Columbia, 4.950%, 2040/06/18 6,000,000 6,542 7,883 Province of British Columbia, 4.300%, 2042/06/18 7,655,000 8,237 9,298 Province of British Columbia, 3.200%, 2044/06/18 9,940,000 8,933 10,140 Province of British Columbia, 2.800%, 2048/06/18 5,400,000 5,098 5,078 Province of Manitoba, 1.850%, 2017/06/01 1,000,000 1,000 1,016 Province of Manitoba, 4.700%, 2017/09/22 1,035,000 1,036 1,104 Province of Manitoba, 1.850%, 2018/09/05 1,000,000 1,000 1,024 Province of Manitoba, 5.500%, 2018/11/15 520, Province of Manitoba, 4.750%, 2020/02/11 1,400,000 1,471 1,592 Province of Manitoba, 4.150%, 2020/06/03 1,600,000 1,619 1,790 Province of Manitoba, 1.600%, 2020/09/05 1,000, ,008 Province of Manitoba, 3.850%, 2021/12/01 3,170,000 3,307 3,546 Province of Manitoba, 2.550%, 2023/06/02 2,400,000 2,307 2,478 Province of Manitoba, 3.300%, 2024/06/02 3,600,000 3,743 3,885 Province of Manitoba, 2.450%, 2025/06/02 5,125,000 5,114 5,130 Province of Manitoba, 7.750%, 2025/12/22 280, Province of Manitoba, 5.700%, 2037/03/05 1,835,000 2,084 2,497 Province of Manitoba, 4.600%, 2038/03/05 2,825,000 2,767 3,379 Province of Manitoba, 4.650%, 2040/03/05 2,260,000 2,208 2,738 Province of Manitoba, 4.100%, 2041/03/05 3,900,000 4,101 4,380 Province of Manitoba, 4.400%, 2042/03/05 900, ,059 Province of Manitoba, 3.350%, 2043/03/05 1,600,000 1,456 1,592 Province of Manitoba, 4.050%, 2045/09/05 3,500,000 3,681 3,946 Province of Manitoba, 2.850%, 2046/09/05 5,705,000 5,473 5,146 Province of New Brunswick, 6.750%, 2017/06/27 750, Province of New Brunswick, 6.000%, 2017/12/27 640, Province of New Brunswick, 4.450%, 2018/03/26 1,160,000 1,158 1,250 Province of New Brunswick, 4.400%, 2019/06/03 4,345,000 4,390 4,809 Province of New Brunswick, 4.500%, 2020/06/02 3,060,000 3,092 3,460 Province of New Brunswick, 3.350%, 2021/12/03 2,100,000 2,119 2,284 Province of New Brunswick, 1.550%, 2022/05/04 1,000, Province of New Brunswick, 2.850%, 2023/06/02 2,650,000 2,638 2,777 Province of New Brunswick, 3.650%, 2024/06/03 2,000,000 2,027 2,200 Province of New Brunswick, 5.650%, 2028/12/27 910,000 1,004 1,173 Province of New Brunswick, 5.500%, 2034/01/27 945,000 1,026 1,227 Par value Province of New Brunswick, 4.650%, 2035/09/26 1,605,000 1,553 1,897 Province of New Brunswick, 4.550%, 2037/03/26 1,895,000 1,832 2,215 Province of New Brunswick, 4.800%, 2039/09/26 3,140,000 3,319 3,818 Province of New Brunswick, 4.800%, 2041/06/03 2,035,000 2,073 2,488 Province of New Brunswick, 3.550%, 2043/06/03 3,800,000 3,602 3,854 Province of New Brunswick, 3.800%, 2045/08/14 4,000,000 4,191 4,248 Province of New Brunswick, 3.550%, 2055/06/03 1,500,000 1,525 1,529 Province of Newfoundland and Labrador, %, 2021/04/15 390, Province of Newfoundland and Labrador, 2.300%, 2025/06/02 2,000,000 1,968 1,956 Province of Newfoundland and Labrador, 9.150%, 2025/07/07 350, Province of Newfoundland and Labrador, 6.150%, 2028/04/17 925,000 1,181 1,232 Province of Newfoundland and Labrador, 6.550%, 2030/10/17 550, Province of Newfoundland and Labrador, 5.600%, 2033/10/17 695, Province of Newfoundland and Labrador, 5.700%, 2035/10/17 400, Province of Newfoundland and Labrador, 4.500%, 2037/04/17 615, Province of Newfoundland and Labrador, 4.650%, 2040/10/17 1,225,000 1,194 1,458 Province of Newfoundland and Labrador, 3.300%, 2046/10/17 1,000, Province of Nova Scotia, 4.150%, 2019/11/25 780, Province of Nova Scotia, 4.100%, 2021/06/01 2,445,000 2,503 2,752 Province of Nova Scotia, 4.450%, 2021/10/24 400, Province of Nova Scotia, 2.150%, 2025/06/01 1,000,000 1, Province of Nova Scotia, 6.600%, 2027/06/01 830, ,145 Province of Nova Scotia, 6.600%, 2031/12/01 630, Province of Nova Scotia, 5.800%, 2033/06/01 950, ,278 Province of Nova Scotia, 4.900%, 2035/06/01 970, ,195 Province of Nova Scotia, 4.500%, 2037/06/01 1,915,000 1,841 2,255 Province of Nova Scotia, 4.700%, 2041/06/01 2,405,000 2,603 2,945 64

65 Par value Province of Nova Scotia, 4.400%, 2042/06/01 4,080,000 4,485 4,803 Province of Nova Scotia, 3.450%, 2045/06/01 800, Province of Nova Scotia, 3.500%, 2062/06/02 2,000,000 2,018 2,068 Province of Ontario, 4.300%, 2017/03/08 14,025,000 14,138 14,622 Province of Ontario, 1.900%, 2017/09/08 17,500,000 17,543 17,832 Province of Ontario, 4.200%, 2018/03/08 6,820,000 6,858 7,313 Province of Ontario, 5.500%, 2018/06/02 1,690,000 1,732 1,874 Province of Ontario, 2.100%, 2018/09/08 22,200,000 22,486 22,878 Province of Ontario, 1.750%, 2018/10/09 1,200,000 1,228 1,226 Province of Ontario, 4.400%, 2019/06/02 22,115,000 23,082 24,533 Province of Ontario, 2.100%, 2019/09/08 9,250,000 9,340 9,556 Province of Ontario, 4.200%, 2020/06/02 29,850,000 31,319 33,501 Province of Ontario, 4.000%, 2021/06/02 24,010,000 24,672 27,028 Province of Ontario, 3.150%, 2022/06/02 33,260,000 34,277 35,978 Province of Ontario, 9.500%, 2022/07/13 2,325,000 3,000 3,413 Province of Ontario, 2.850%, 2023/06/02 31,675,000 31,571 33,534 Province of Ontario, 8.100%, 2023/09/08 4,155,000 5,129 5,933 Province of Ontario, 7.500%, 2024/02/07 825, ,152 Province of Ontario, 3.500%, 2024/06/02 31,000,000 32,083 34,144 Province of Ontario, 2.600%, 2025/06/02 36,550,000 37,198 37,364 Province of Ontario, 8.500%, 2025/12/02 2,441,000 3,078 3,739 Province of Ontario, 8.000%, 2026/06/02 2,515,000 3,174 3,786 Province of Ontario, 8.000%, 2026/12/02 1,000,000 1,506 1,521 Province of Ontario, 6.950%, 2027/02/03 900, ,264 Province of Ontario, 7.600%, 2027/06/02 8,865,000 11,871 13,242 Province of Ontario, 6.250%, 2028/08/25 1,175,000 1,325 1,600 Province of Ontario, 6.500%, 2029/03/08 12,989,000 16,397 18,307 Province of Ontario, 6.200%, 2031/06/02 6,130,000 7,476 8,601 Province of Ontario, 5.850%, 2033/03/08 10,220,000 12,278 14,047 Province of Ontario, 5.600%, 2035/06/02 13,540,000 15,964 18,407 Province of Ontario, 4.700%, 2037/06/02 15,870,000 17,797 19,604 Province of Ontario, 4.600%, 2039/06/02 13,950,000 14,414 17,129 Province of Ontario, 5.650%, 2039/07/13 600, Province of Ontario, 4.650%, 2041/06/02 19,990,000 22,334 24,941 Province of Ontario, 3.500%, 2043/06/02 27,150,000 27,713 28,517 Province of Ontario, 3.450%, 2045/06/02 35,330,000 33,682 36,961 Province of Ontario, 2.900%, 2046/12/02 28,420,000 27,196 26,725 Province of Prince Edward Island, 4.250%, 2019/09/24 200, Province of Prince Edward Island, 8.500%, 2023/12/15 291, Province of Prince Edward Island, 2.350%, 2025/08/25 400, Province of Prince Edward Island, 6.250%, 2032/01/29 250, Province of Prince Edward Island, 5.600%, 2034/02/21 225, Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Province of Prince Edward Island, 5.300%, 2036/05/19 100, Province of Prince Edward Island, 4.650%, 2037/11/19 515, Province of Prince Edward Island, 4.600%, 2041/05/19 500, Province of Prince Edward Island, 3.650%, 2042/06/27 450, Province of Prince Edward Island, 3.600%, 2053/01/17 800, Province of Prince Edward Island, 3.850%, 2054/07/17 1,300,000 1,293 1,400 Province of Quebec, 4.500%, 2017/12/01 12,130,000 12,539 12,983 Province of Quebec, 4.500%, 2018/12/01 13,745,000 14,402 15,126 Province of Quebec, 4.500%, 2019/12/01 14,220,000 15,041 15,987 Province of Quebec, 4.500%, 2020/12/01 20,710,000 22,281 23,695 Province of Quebec, 4.250%, 2021/12/01 19,780,000 21,291 22,632 Province of Quebec, 3.500%, 2022/12/01 19,880,000 20,854 21,939 Province of Quebec, 9.375%, 2023/01/16 2,700,000 3,503 4,007 Province of Quebec, 3.000%, 2023/09/01 15,925,000 15,983 17,007 Province of Quebec, 3.750%, 2024/09/01 16,040,000 16,663 17,978 Province of Quebec, 5.350%, 2025/06/01 1,900,000 2,353 2,365 Province of Quebec, 2.750%, 2025/09/01 14,250,000 14,612 14,722 Province of Quebec, 8.500%, 2026/04/01 5,470,000 7,776 8,417 Province of Quebec, 6.000%, 2029/10/01 6,655,000 8,613 9,037 Province of Quebec, 6.250%, 2032/06/01 10,480,000 12,654 14,859 Province of Quebec, 5.750%, 2036/12/01 8,820,000 10,870 12,229 Province of Quebec, 5.000%, 2038/12/01 11,015,000 11,630 14,134 Province of Quebec, 5.000%, 2041/12/01 21,000,000 24,419 27,380 Province of Quebec, 4.250%, 2043/12/01 16,885,000 19,209 19,951 Province of Quebec, 3.500%, 2045/12/01 25,340,000 25,340 26,594 Province of Quebec, 3.500%, 2048/12/01 4,600,000 4,710 4,840 Province of Saskatchewan, 1.950%, 2019/03/01 2,000,000 2,003 2,056 Province of Saskatchewan, 3.900%, 2020/07/28 595, Province of Saskatchewan, 9.600%, 2022/02/04 700, ,014 Province of Saskatchewan, 3.200%, 2024/06/03 3,000,000 3,088 3,231 Province of Saskatchewan, 8.750%, 2025/05/30 260, Province of Saskatchewan, 5.750%, 2029/03/05 1,000,000 1,293 1,320 Province of Saskatchewan, 6.400%, 2031/09/05 1,520,000 1,993 2,162 Province of Saskatchewan, 5.800%, 2033/09/05 1,400,000 1,527 1,910 Province of Saskatchewan, 5.600%, 2035/09/05 1,040,000 1,157 1,406 Province of Saskatchewan, 5.000%, 2037/03/05 1,150,000 1,198 1,459 65

66 POOLED AND INDEXED FUNDS Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Province of Saskatchewan, 4.750%, 2040/06/01 2,680,000 2,928 3,342 Province of Saskatchewan, 3.400%, 2042/02/03 2,000,000 2,008 2,042 Province of Saskatchewan, 3.900%, 2045/06/02 3,600,000 3,813 4,025 Province of Saskatchewan, 2.750%, 2046/12/02 2,500,000 2,336 2,250 MUNICIPALS AND SCHOOLS 2.05% City of Ottawa, 4.200%, 2053/07/30 2,000,000 1,995 2,251 Concordia University, 6.550%, 2042/09/02 170, Edmonton, Alberta, 8.500%, 2018/09/14 675, Governing Council of University of Toronto, 4.251%, 2051/12/07 1,000,000 1,025 1,092 Municipal Finance Authority of British Columbia, 5.100%, 2018/11/20 2,000,000 2,102 2,223 Municipal Finance Authority of British Columbia, 2.050%, 2019/06/02 1,000, ,026 Municipal Finance Authority of British Columbia, 4.875%, 2019/06/03 2,570,000 2,664 2,879 Municipal Finance Authority of British Columbia, 4.450%, 2020/06/01 940, ,058 Municipal Finance Authority of British Columbia, 1.750%, 2020/10/15 1,000, ,007 Municipal Finance Authority of British Columbia, 4.150%, 2021/06/01 1,000,000 1,045 1,123 Municipal Finance Authority of British Columbia, 3.750%, 2023/09/26 2,350,000 2,425 2,599 Municipal Finance Authority of British Columbia, 2.950%, 2024/10/14 1,500,000 1,599 1,561 Municipal Finance Authority of British Columbia, 2.650%, 2025/10/02 1,000, ,004 Municipal Finance Authority of British Columbia, 4.950%, 2027/12/01 1,030,000 1,043 1,248 Ontario School Board Trust, 5.900%, 2033/06/02 2,560,000 2,577 3,403 Ottawa-Carleton Catholic School Board, 6.500%, 2022/03/22 180, Regional Municipality of Peel, 5.100%, 2040/06/29 2,710,000 2,760 3,394 Regional Municipality of Peel, 3.850%, 2042/10/30 1,500,000 1,512 1,574 Royal Institution for the Advancement of Learning, (The), 6.150%, 2042/09/22 920,000 1,031 1,298 Simon Fraser University, 5.613%, 2043/06/10 430, South Coast British Columbia Transportation Authority, 4.650%, 2041/06/20 1,165,000 1,327 1,372 South Coast British Columbia Transportation Authority, 4.450%, 2044/06/09 2,000,000 1,995 2,306 The Regional Municipality of York, 4.600%, 2017/05/30 505, The Regional Municipality of York, 7.250%, 2017/06/19 310, Par value The Regional Municipality of York, 4.500%, 2020/06/30 600, The Regional Municipality of York, 4.000%, 2021/06/30 2,187,000 2,358 2,437 The Regional Municipality of York, 2.600%, 2025/12/15 2,800,000 2,776 2,780 The Regional Municipality of York, 3.650%, 2033/05/13 1,000, ,039 The Regional Municipality of York, 4.050%, 2034/05/01 2,150,000 2,216 2,340 Toronto, City of, 5.050%, 2017/07/18 2,260,000 2,291 2,404 Toronto, City of, 4.950%, 2018/06/27 1,500,000 1,539 1,642 Toronto, City of, 5.600%, 2018/12/18 100, Toronto, City of, 3.500%, 2021/12/06 2,000,000 2,012 2,180 Toronto, City of, 3.900%, 2023/09/29 2,000,000 2,253 2,222 Toronto, City of, 3.400%, 2024/05/21 1,000, ,071 Toronto, City of, 2.450%, 2025/02/06 500, Toronto, City of, 2.950%, 2035/04/28 500, Toronto, City of, 5.200%, 2040/06/01 1,515,000 1,748 1,914 Toronto, City of, 4.700%, 2041/06/10 775, Toronto, City of, 3.800%, 2042/12/13 800, Vancouver, City of, 4.700%, 2017/12/01 400, Vancouver, City of, 4.900%, 2019/12/02 300, Vancouver, City of, 4.500%, 2020/06/01 780, Ville de Montréal, 5.000%, 2018/12/01 820, Ville de Montréal, 5.450%, 2019/12/01 2,390,000 2,499 2,736 Ville de Montréal, 3.500%, 2023/09/01 3,500,000 3,483 3,751 Ville de Montréal, 3.500%, 2024/09/01 1,500,000 1,574 1,599 Ville de Montréal, 4.250%, 2032/12/01 1,000, ,102 Ville de Montréal, 4.100%, 2034/12/01 1,500,000 1,542 1,611 Ville de Montréal, 6.000%, 2043/06/01 1,700,000 1,880 2,393 Winnipeg, City of, 6.250%, 2017/11/17 500, Winnipeg, City of, 5.200%, 2036/07/17 450, York Region District School Board, 6.450%, 2024/06/04 554, York University, 6.480%, 2042/03/07 600, CORPORATE 27.04% 407 International Inc., 4.300%, 2021/05/26 2,500,000 2,484 2, International Inc., 3.350%, 2024/05/16 2,000,000 1,999 2, International Inc., 6.470%, 2029/07/27 935,000 1,048 1, International Inc., 5.960%, 2035/12/03 1,170,000 1,217 1, International Inc., 4.450%, 2041/11/15 1,250,000 1,249 1, International Inc., 3.300%, 2045/03/27 550, International Inc., 3.830%, 2046/05/11 1,460,000 1,458 1, International Inc., 3.980%, 2052/09/11 1,000, International Inc., 4.680%, 2053/10/07 2,450,000 2,549 2,779 Accès Recherche Montréal L.P., 7.067%, 2042/12/31 1,655,987 1,656 2,295 Aéroports de Montréal, 6.550%, 2033/10/11 960,000 1,103 1,312 Aéroports de Montréal, 5.170%, 2035/09/17 1,700,000 1,681 2,048 66

67 Par value Aéroports de Montréal, 5.670%, 2037/10/16 855, ,104 Aéroports de Montréal, 3.919%, 2042/09/26 600, Aéroports de Montréal, 3.918%, 2045/06/12 1,500,000 1,500 1,539 Alberta Government Telephone Commission, 8.800%, 2025/09/22 310, Alimentation Couche-Tard Inc., 3.600%, 2025/06/02 3,450,000 3,450 3,476 Alliance Pipeline Limited Partnership, 7.181%, 2023/06/30 2,429,486 2,763 2,856 AltaLink, L.P., 3.621%, 2020/09/17 4,000,000 4,000 4,336 AltaLink, L.P., 3.399%, 2024/06/06 4,000,000 4,124 4,227 AltaLink, L.P., 4.872%, 2040/11/15 360, AltaLink, L.P., 4.462%, 2041/11/08 1,000,000 1,017 1,073 AltaLink, L.P., 3.990%, 2042/06/30 1,800,000 1,800 1,794 AltaLink, L.P., 4.274%, 2064/06/06 1,500,000 1,500 1,542 American Express Canada Credit Corporation, 2.310%, 2018/03/29 3,200,000 3,200 3,256 Arctic Infrastructure L.P., 5.092%, 2047/06/30 2,000,000 2,000 2,281 Arrow Lakes Power Corporation, 5.516%, 2041/04/05 2,850,000 2,850 3,310 B.C. Gas Utility Ltd., 6.950%, 2029/09/21 146, B.C. Telephone, %, 2021/06/19 75, B.C. Telephone, 9.650%, 2022/04/08 700, Bank of Montreal, 2.390%, 2017/07/12 3,000,000 3,024 3,053 Bank of Montreal, 4.550%, 2017/08/01 2,505,000 2,495 2,633 Bank of Montreal, 2.240%, 2017/12/11 1,850,000 1,850 1,882 Bank of Montreal, 6.020%, 2018/05/02 5,495,000 5,784 6,068 Bank of Montreal, 3.210%, 2018/09/13 4,000,000 4,000 4,180 Bank of Montreal, 2.430%, 2019/03/04 1,560,000 1,560 1,600 Bank of Montreal, 2.840%, 2020/06/04 2,000,000 2,080 2,081 Bank of Montreal, 2.100%, 2020/10/06 2,000,000 2,000 2,012 Bank of Montreal, 3.400%, 2021/04/23 5,000,000 5,006 5,324 Bank of Montreal, 2.120%, 2022/03/16 3,710,000 3,732 3,673 Bank of Montreal, 6.170%, 2023/03/28 1,325,000 1,333 1,451 Bank of Montreal, 4.609%, 2025/09/10 1,730,000 1,880 2,003 Bank of Nova Scotia, (The), 2.598%, 2017/02/27 6,750,000 6,750 6,859 Bank of Nova Scotia, (The), 4.100%, 2017/06/08 2,950,000 2,971 3,069 Bank of Nova Scotia, (The), 2.370%, 2018/01/11 4,000,000 3,999 4,076 Bank of Nova Scotia, (The), 2.242%, 2018/03/22 6,000,000 5,982 6,105 Bank of Nova Scotia, (The), 1.330%, 2018/05/01 3,000,000 2,999 2,990 Bank of Nova Scotia, (The), 2.750%, 2018/08/13 5,000,000 5,056 5,156 Bank of Nova Scotia, (The), 2.462%, 2019/03/14 2,225,000 2,225 2,280 Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Bank of Nova Scotia, (The), 2.400%, 2019/10/28 2,145,000 2,145 2,190 Bank of Nova Scotia, (The), 2.270%, 2020/01/13 6,000,000 6,065 6,094 Bank of Nova Scotia, (The), 2.130%, 2020/06/15 6,000,000 6,014 6,043 Bank of Nova Scotia, (The), 2.090%, 2020/09/09 1,875,000 1,875 1,879 Bank of Nova Scotia, (The), 3.270%, 2021/01/11 4,000,000 4,000 4,222 Bank of Nova Scotia, (The), 2.873%, 2021/06/04 4,000,000 4,000 4,141 Bank of Nova Scotia, (The), 2.898%, 2022/08/03 5,400,000 5,412 5,504 Bank of Nova Scotia, (The), 3.036%, 2024/10/18 3,000,000 3,000 3,096 Bank of Nova Scotia, (The), 8.900%, 2025/06/20 540, Bell Canada, 5.000%, 2017/02/15 1,900,000 1,897 1,972 Bell Canada, 4.370%, 2017/09/13 2,475,000 2,523 2,587 Bell Canada, 4.400%, 2018/03/16 4,000,000 4,113 4,228 Bell Canada, 3.500%, 2018/09/10 1,000,000 1,000 1,043 Bell Canada, 5.520%, 2019/02/26 700, Bell Canada, 3.350%, 2019/06/18 2,500,000 2,498 2,609 Bell Canada, 3.540%, 2020/06/12 500, Bell Canada, 3.250%, 2020/06/17 950, Bell Canada, 3.150%, 2021/09/29 3,000,000 2,990 3,090 Bell Canada, 3.000%, 2022/10/03 2,000,000 1,992 2,020 Bell Canada, 3.350%, 2023/03/22 3,800,000 3,795 3,889 Bell Canada, 4.700%, 2023/09/11 1,000, ,105 Bell Canada, 6.550%, 2029/05/01 970,000 1,044 1,194 Bell Canada, 7.850%, 2031/04/02 1,500,000 1,766 2,015 Bell Canada, 7.300%, 2032/02/23 950,000 1,064 1,214 Bell Canada, 6.100%, 2035/03/16 825, Bell Canada, 6.170%, 2037/02/26 1,000,000 1,007 1,179 Bell Canada, 4.750%, 2044/09/29 3,550,000 3,518 3,499 BMO Capital Trust II, %, 2107/12/31 800, BMO Subordinated Notes Trust, 5.750%, 2022/09/26 1,500,000 1,580 1,602 Brascan Corporation, 5.950%, 2035/06/14 250, British Columbia Ferry Services Inc., 6.250%, 2034/10/13 650, British Columbia Ferry Services Inc., 5.021%, 2037/03/20 1,291,000 1,248 1,513 British Columbia Ferry Services Inc., 4.702%, 2043/10/23 1,211,000 1,231 1,378 Brookfield Asset Management Inc., 5.290%, 2017/04/25 444, Brookfield Asset Management Inc., 3.950%, 2019/04/09 5,000,000 5,250 5,237 BRP Finance ULC, 5.840%, 2036/11/05 695,

68 POOLED AND INDEXED FUNDS Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Caisse centrale Desjardins, 3.502%, 2017/10/05 1,470,000 1,470 1,524 Caisse centrale Desjardins, 2.795%, 2018/11/19 2,000,000 2,000 2,064 Caisse centrale Desjardins, 2.443%, 2019/07/17 4,000,000 4,006 4,095 Caisse centrale Desjardins, 1.748%, 2020/03/02 1,500,000 1,500 1,490 Cameco Corporation, 5.670%, 2019/09/02 1,265,000 1,286 1,403 Cameco Corporation, 3.750%, 2022/11/14 2,870,000 2,870 2,947 Cameco Corporation, 4.190%, 2024/06/24 1,000,000 1,000 1,034 Canada Life Financial Corporation, 6.400%, 2028/12/11 300, Canadian Imperial Bank of Commerce, 3.950%, 2017/07/14 4,050,000 4,099 4,216 Canadian Imperial Bank of Commerce, 2.350%, 2017/10/18 5,125,000 5,122 5,219 Canadian Imperial Bank of Commerce, 2.220%, 2018/03/07 5,750,000 5,734 5,852 Canadian Imperial Bank of Commerce, 1.700%, 2018/10/09 3,300,000 3,304 3,316 Canadian Imperial Bank of Commerce, 2.350%, 2019/06/24 2,300,000 2,299 2,355 Canadian Imperial Bank of Commerce, 1.850%, 2020/07/14 2,675,000 2,670 2,672 Canadian Imperial Bank of Commerce, 6.000%, 2023/06/06 2,180,000 2,247 2,393 Canadian National Railway Company, 2.800%, 2025/09/22 1,000, ,012 Canadian National Railway Company, 3.950%, 2045/09/22 1,000, ,020 Canadian Natural Resources Limited, 2.600%, 2019/12/03 3,000,000 2,996 2,995 Canadian Natural Resources Limited, 2.890%, 2020/08/14 3,500,000 3,498 3,523 Canadian Natural Resources Limited, 3.550%, 2024/06/03 1,900,000 1,894 1,872 Canadian Pacific Railway Company, 6.250%, 2018/06/01 1,190,000 1,223 1,314 Canadian Pacific Railway Company, 6.450%, 2039/11/17 2,025,000 2,156 2,446 Canadian Tire Corporation, Limited, 6.320%, 2034/02/24 1,005,000 1,004 1,229 Canadian Tire Corporation, Limited, 5.610%, 2035/09/04 200, Canadian Utilities Limited, %, 2020/11/30 470, Canadian Utilities Limited, 3.122%, 2022/11/09 1,260,000 1,321 1,330 Canadian Western Bank, 2.751%, 2020/06/29 1,000,000 1,000 1,003 Capital City Link General Partnership, 4.386%, 2046/03/31 3,000,000 3,000 3,074 Capital Desjardins Inc., 5.187%, 2020/05/05 2,000,000 2,000 2,235 Par value Capital Desjardins Inc., 4.954%, 2026/12/15 2,000,000 2,047 2,250 Caterpillar Financial Services Limited, 2.630%, 2017/06/01 900, Caterpillar Financial Services Limited, 2.290%, 2018/06/01 1,000,000 1,000 1,018 Caterpillar Financial Services Limited, 1.750%, 2019/06/03 400, Choice Properties Limited Partnership, 3.000%, 2017/04/20 1,050,000 1,060 1,065 Choice Properties Limited Partnership, 3.600%, 2020/04/20 3,000,000 3,180 3,162 Choice Properties Real Estate Investment Trust, 2.297%, 2020/09/14 2,500,000 2,488 2,493 Choice Properties Real Estate Investment Trust, 3.498%, 2021/02/08 1,400,000 1,400 1,466 Choice Properties Real Estate Investment Trust, 4.903%, 2023/07/05 963, ,073 Choice Properties Real Estate Investment Trust, 4.293%, 2024/02/08 690, Choice Properties Real Estate Investment Trust, 4.055%, 2025/11/24 500, CIBC Capital Trust, 9.976%, 2108/06/30 3,630,000 3,992 4,483 CIBC Capital Trust, %, 2108/06/30 640, Clarica Life Insurance Company, 6.300%, 2028/05/15 255, Consumers' Gas Company Ltd., (The), 6.100%, 2028/05/19 715, CPPIB Capital Inc., 1.400%, 2020/06/04 2,000,000 1,997 2,005 CU Inc., 5.432%, 2019/01/23 1,605,000 1,620 1,794 CU Inc., 4.801%, 2021/11/22 2,500,000 2,752 2,884 CU Inc., 6.215%, 2024/03/06 200, CU Inc., 5.896%, 2034/11/20 710, CU Inc., 5.183%, 2035/11/21 175, CU Inc., 5.032%, 2036/11/20 60, CU Inc., 5.556%, 2037/10/30 600, CU Inc., 5.580%, 2038/05/26 800, CU Inc., 6.500%, 2039/03/07 100, CU Inc., 3.805%, 2042/09/10 1,500,000 1,500 1,453 CU Inc., 4.722%, 2043/09/09 2,800,000 2,800 3,121 CU Inc., 4.085%, 2044/09/02 4,000,000 4,000 4,065 CU Inc., 3.964%, 2045/07/27 1,000,000 1, CU Inc., 4.947%, 2050/11/18 50, CU Inc., 4.211%, 2055/10/29 800, CU Inc., 4.593%, 2061/10/24 1,000,000 1,000 1,094 Daimler Canada Finance Inc., 1.420%, 2018/10/02 475, Enbridge Gas Distribution Inc., 5.160%, 2017/12/04 2,371,000 2,468 2,532 Enbridge Gas Distribution Inc., 4.040%, 2020/11/23 300, Enbridge Gas Distribution Inc., 4.770%, 2021/12/17 350,

69 Par value Enbridge Gas Distribution Inc., 3.150%, 2024/08/22 350, Enbridge Gas Distribution Inc., 3.310%, 2025/09/11 300, Enbridge Gas Distribution Inc., 6.160%, 2033/12/16 1,130,000 1,244 1,427 Enbridge Gas Distribution Inc., 5.210%, 2036/02/25 1,500,000 1,734 1,715 Enbridge Gas Distribution Inc., 4.000%, 2044/08/22 250, Enbridge Gas Distribution Inc., 4.950%, 2050/11/22 400, Enbridge Inc., 4.770%, 2019/09/02 2,660,000 2,666 2,826 Enbridge Inc., 4.530%, 2020/03/09 970, ,024 Enbridge Inc., 4.260%, 2021/02/01 2,500,000 2,564 2,603 Enbridge Inc., 3.190%, 2022/12/05 2,000,000 1,999 1,925 Enbridge Inc., 7.220%, 2030/07/24 450, Enbridge Inc., 5.570%, 2035/11/14 100, Enbridge Inc., 5.750%, 2039/09/02 700, Enbridge Inc., 4.240%, 2042/08/27 2,250,000 2,163 1,853 Enbridge Inc., 4.570%, 2044/03/11 2,965,000 2,962 2,558 Enbridge Pipelines Inc., 4.490%, 2019/11/12 1,465,000 1,464 1,593 Enbridge Pipelines Inc., 4.450%, 2020/04/06 990, ,077 Enbridge Pipelines Inc., 2.930%, 2022/11/30 1,990,000 1,990 1,991 Enbridge Pipelines Inc., 6.050%, 2029/02/12 220, Enbridge Pipelines Inc., 5.350%, 2039/11/10 490, Enbridge Pipelines Inc., 5.330%, 2040/04/06 450, EPCOR Utilities Inc., 5.800%, 2018/01/31 1,800,000 1,827 1,965 EPCOR Utilities Inc., 6.650%, 2038/04/15 980,000 1,115 1,355 EPCOR Utilities Inc., 5.750%, 2039/11/24 2,700,000 3,173 3,392 Fairfax Financial Holdings Limited, 5.840%, 2022/10/14 2,500,000 2,757 2,773 Fairfax Financial Holdings Limited, 4.950%, 2025/03/03 760, Finning International Inc., 6.020%, 2018/06/01 1,675,000 1,749 1,839 First Capital Realty Inc., 5.850%, 2017/01/31 2,750,000 2,806 2,871 First Capital Realty Inc., 4.950%, 2018/11/30 2,000,000 2,103 2,159 First Capital Realty Inc., 5.480%, 2019/07/30 1,235,000 1,299 1,373 First Capital Realty Inc., 5.600%, 2020/04/30 1,980,000 2,011 2,238 First Capital Realty Inc., 4.500%, 2021/03/01 2,543,000 2,592 2,765 First Capital Realty Inc., 3.900%, 2023/10/30 850, First Capital Realty Inc., 4.790%, 2024/08/30 2,000,000 2,068 2,189 First Capital Realty Inc., 4.323%, 2025/07/31 5,650,000 5,771 5,902 First National Financial Corporation, 4.010%, 2020/04/09 2,785,000 2,784 2,803 Ford Credit Canada Limited, 3.320%, 2017/12/19 3,750,000 3,749 3,834 Ford Credit Canada Limited, 2.939%, 2019/02/19 4,140,000 4,140 4,201 Ford Credit Canada Limited, 2.923%, 2020/09/16 1,250,000 1,250 1,255 Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Ford Credit Canada Limited, 3.279%, 2021/07/02 2,180,000 2,180 2,207 Fortis Inc., 6.510%, 2039/07/04 500, FortisAlberta Inc., 6.220%, 2034/10/31 1,500,000 1,771 1,934 FortisAlberta Inc., 5.400%, 2036/04/21 215, FortisAlberta Inc., 5.370%, 2039/10/30 1,100,000 1,102 1,323 FortisAlberta Inc., 4.270%, 2045/09/22 1,000, ,033 FortisAlberta Inc., 4.990%, 2047/01/03 115, FortisAlberta Inc., 4.800%, 2050/10/27 250, FortisAlberta Inc., 3.980%, 2052/10/23 775, FortisBC Energy (Vancouver Island) Inc., 5.200%, 2040/12/06 1,250,000 1,247 1,482 FortisBC Energy Inc., 5.900%, 2035/02/26 888, ,113 FortisBC Energy Inc., 5.550%, 2036/09/25 320, FortisBC Energy Inc., 6.000%, 2037/10/02 1,500,000 1,971 1,926 FortisBC Energy Inc., 5.800%, 2038/05/13 575, FortisBC Energy Inc., 6.550%, 2039/02/24 200, FortisBC Energy Inc., 4.250%, 2041/12/09 1,000,000 1,142 1,034 FortisBC Inc., 5.600%, 2035/11/09 200, FortisBC Inc., 5.000%, 2050/11/24 500, Gaz Métro Inc., 5.450%, 2021/07/12 640, Gaz Métro Inc., 9.000%, 2025/05/16 300, Gaz Métro Inc., 7.200%, 2027/11/19 405, Gaz Métro Inc., 7.050%, 2030/10/30 400, Gaz Métro Inc., 6.300%, 2033/10/31 250, Gaz Métro Inc., 5.700%, 2036/07/10 100, GE Capital Canada Funding Company, 4.550%, 2017/01/17 1,600,000 1,590 1,656 GE Capital Canada Funding Company, 5.530%, 2017/08/17 2,505,000 2,502 2,676 GE Capital Canada Funding Company, 4.400%, 2018/02/08 650, GE Capital Canada Funding Company, 2.420%, 2018/05/31 4,400,000 4,400 4,502 GE Capital Canada Funding Company, 5.680%, 2019/09/10 1,790,000 1,789 2,044 GE Capital Canada Funding Company, 4.600%, 2022/01/26 2,000,000 2,065 2,265 GE Capital Canada Funding Company, 5.730%, 2037/10/22 4,120,000 4,143 5,236 General Motors Financial Company of Canada, Ltd., 3.080%, 2020/05/22 3,380,000 3,379 3,387 George Weston Limited, 4.115%, 2024/06/17 1,220,000 1,220 1,288 George Weston Limited, 7.100%, 2032/02/05 1,000,000 1,149 1,258 Greater Toronto Airports Authority, 4.850%, 2017/06/01 1,590,000 1,587 1,670 Greater Toronto Airports Authority, 5.260%, 2018/04/17 3,255,000 3,392 3,545 Greater Toronto Airports Authority, 5.960%, 2019/11/20 1,350,000 1,418 1,581 69

70 POOLED AND INDEXED FUNDS Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Greater Toronto Airports Authority, 6.450%, 2027/12/03 2,575,000 3,166 3,491 Greater Toronto Airports Authority, 6.450%, 2029/07/30 145, Greater Toronto Airports Authority, 7.050%, 2030/06/12 4,255,000 5,375 5,964 Greater Toronto Airports Authority, 7.100%, 2031/06/04 365, Greater Toronto Airports Authority, 6.980%, 2032/10/15 600, Greater Toronto Airports Authority, 6.470%, 2034/02/02 1,585,000 1,778 2,174 Greater Toronto Airports Authority, 5.630%, 2040/06/07 1,325,000 1,324 1,724 Greater Toronto Airports Authority, 5.300%, 2041/02/25 1,800,000 1,951 2,256 Great-West Lifeco Inc., 6.140%, 2018/03/21 300, Great-West Lifeco Inc., 4.650%, 2020/08/13 2,740,000 2,738 3,074 Great-West Lifeco Inc., 6.740%, 2031/11/24 965, ,276 Great-West Lifeco Inc., 6.670%, 2033/03/21 1,040,000 1,135 1,371 Great-West Lifeco Inc., 5.998%, 2039/11/16 1,575,000 1,990 1,999 Health Montréal Collective Limited Partnership, 6.721%, 2049/09/30 5,250,000 5,250 6,833 Hollis Receivables Term Trust II, 1.788%, 2020/02/26 3,000,000 3,015 2,989 Honda Canada Finance Inc., 2.275%, 2017/12/11 1,000,000 1,000 1,015 Honda Canada Finance Inc., 1.631%, 2019/08/12 2,300,000 2,309 2,292 Hospital Infrastructure Partners (NOH) Partnership, 5.439%, 2045/01/31 1,850,000 1,849 2,170 HSBC Bank Canada, 2.901%, 2017/01/13 2,220,000 2,220 2,256 HSBC Bank Canada, 3.558%, 2017/10/04 1,500,000 1,500 1,552 HSBC Bank Canada, 2.491%, 2019/05/13 3,000,000 3,000 3,053 HSBC Bank Canada, 2.938%, 2020/01/14 4,000,000 4,000 4,131 HSBC Bank Canada, 1.816%, 2020/07/07 4,840,000 4,840 4,757 HSBC Bank Canada, 2.449%, 2021/01/29 2,000,000 2,000 2,009 HSBC Bank Canada, 2.908%, 2021/09/29 3,100,000 3,155 3,168 HSBC Bank Canada, 4.800%, 2022/04/10 1,000,000 1,000 1,038 Hydro One Inc., 5.180%, 2017/10/18 2,565,000 2,600 2,742 Hydro One Inc., 2.780%, 2018/10/09 1,950,000 1,950 2,024 Hydro One Inc., 1.620%, 2020/04/30 1,500,000 1,500 1,503 Hydro One Inc., 4.400%, 2020/06/01 1,000,000 1,000 1,118 Hydro One Inc., 3.200%, 2022/01/13 2,100,000 2,272 2,242 Hydro One Inc., 6.930%, 2032/06/01 2,680,000 3,085 3,713 Hydro One Inc., 6.350%, 2034/01/31 510, Hydro One Inc., 5.360%, 2036/05/20 939, ,129 Hydro One Inc., 4.890%, 2037/03/13 1,290,000 1,378 1,468 Hydro One Inc., 6.030%, 2039/03/03 150, Hydro One Inc., 5.490%, 2040/07/16 835, ,032 Hydro One Inc., 4.390%, 2041/09/26 1,700,000 1,990 1,824 Hydro One Inc., 4.590%, 2043/10/09 1,200,000 1,481 1,327 Par value Hydro One Inc., 4.170%, 2044/06/06 2,945,000 3,008 3,054 IGM Financial Inc., 6.580%, 2018/03/07 320, IGM Financial Inc., 6.650%, 2027/12/13 505, IGM Financial Inc., 7.450%, 2031/05/09 1,255,000 1,518 1,728 IGM Financial Inc., 7.110%, 2033/03/07 465, IGM Financial Inc., 6.000%, 2040/12/10 1,405,000 1,759 1,772 Integrated Team Solutions PCH Partnership, 4.875%, 2046/05/31 850, Integrated Team Solutions SJHC Partnership, 5.946%, 2042/11/30 986, ,212 Inter Pipeline Fund, 3.448%, 2020/07/20 4,000,000 4,000 4,191 Inter Pipeline Ltd., 3.173%, 2025/03/24 1,331,000 1,332 1,289 Inter Pipeline Ltd., 4.637%, 2044/05/30 3,198,000 3,315 3,132 Interprovincial Pipeline Inc., 8.200%, 2024/02/15 2,255,000 2,959 2,959 Interprovincial Pipeline Inc., 6.550%, 2027/11/17 265, John Deere Canada Funding Inc., 1.950%, 2017/04/12 1,200,000 1,200 1,210 John Deere Canada Funding Inc., 2.300%, 2018/01/17 2,500,000 2,498 2,542 John Deere Canada Funding Inc., 2.350%, 2019/06/24 1,000, ,021 John Deere Canada Funding Inc., 2.050%, 2020/09/17 1,200,000 1,199 1,204 Laurentian Bank of Canada, 2.560%, 2018/03/26 4,000,000 4,000 4,045 Laurentian Bank of Canada, 3.278%, 2018/10/15 2,000,000 2,000 2,060 Laurentian Bank of Canada, 2.810%, 2019/06/13 1,700,000 1,700 1,729 Laurentian Bank of Canada, 2.500%, 2020/01/23 3,300,000 3,283 3,292 Laurentian Bank of Canada, 3.132%, 2022/10/19 2,000,000 2,000 2,034 Loblaw Companies Limited, 3.748%, 2019/03/12 3,000,000 3,078 3,174 Loblaw Companies Limited, 5.220%, 2020/06/18 2,500,000 2,642 2,824 Loblaw Companies Limited, 4.860%, 2023/09/12 4,200,000 4,273 4,722 Loblaw Companies Limited, 6.500%, 2029/01/22 1,000,000 1,036 1,227 Loblaw Companies Limited, 6.050%, 2034/06/09 1,055,000 1,003 1,238 Loblaw Companies Limited, 6.150%, 2035/01/29 800, Loblaw Companies Limited, 5.900%, 2036/01/18 480, Loblaw Companies Limited, 6.450%, 2039/03/01 100, Lower Mattagami Energy Limited Partnership, 4.331%, 2021/05/18 2,000,000 2,243 2,240 70

71 Par value Lower Mattagami Energy Limited Partnership, 3.416%, 2024/06/20 2,000,000 2,128 2,119 Lower Mattagami Energy Limited Partnership, 4.176%, 2046/02/23 1,800,000 1,800 1,856 Manitoba Telecom Services Inc., 4.000%, 2024/05/27 2,400,000 2,398 2,469 Manulife Bank of Canada, 1.405%, 2018/02/27 2,000,000 2,000 1,994 Manulife Financial Capital Trust II, 7.405%, 2108/12/31 2,655,000 2,655 3,139 Manulife Financial Corporation, 5.505%, 2018/06/26 950, ,036 Manulife Financial Corporation, 7.768%, 2019/04/08 2,575,000 2,832 3,043 METRO INC., 3.200%, 2021/12/01 1,330,000 1,330 1,376 METRO INC., 5.970%, 2035/10/15 810, METRO INC., 5.030%, 2044/12/01 1,320,000 1,319 1,352 National Bank of Canada, 2.019%, 2017/04/13 2,775,000 2,775 2,803 National Bank of Canada, 2.689%, 2017/08/21 2,200,000 2,200 2,249 National Bank of Canada, 1.951%, 2017/12/11 2,800,000 2,800 2,831 National Bank of Canada, 2.794%, 2018/08/09 100, National Bank of Canada, 1.742%, 2020/03/03 2,820,000 2,811 2,803 National Bank of Canada, 2.105%, 2022/03/18 7,330,000 7,359 7,227 National Bank of Canada, 3.261%, 2022/04/11 3,450,000 3,451 3,515 NAV CANADA, 5.304%, 2019/04/17 1,800,000 1,996 2,028 NAV CANADA, 7.560%, 2027/03/01 759, NAV CANADA, 7.400%, 2027/06/01 2,680,000 3,688 3,840 NBC Asset Trust, 7.235%, 2018/06/30 2,080,000 2,121 2,325 NBC Asset Trust, 7.447%, 2020/06/30 175, North Battleford Power L.P., 4.958%, 2032/12/31 3,305,530 3,305 3,765 Nova Gas Transmission, 9.900%, 2024/12/16 800,000 1,025 1,213 Nova Scotia Power Incorporated, 9.750%, 2019/08/02 335, Nova Scotia Power Incorporated, 8.850%, 2025/05/19 1,296,000 1,617 1,888 Nova Scotia Power Incorporated, 6.950%, 2033/08/25 1,000,000 1,194 1,365 Nova Scotia Power Incorporated, 5.670%, 2035/11/14 75, Nova Scotia Power Incorporated, 5.950%, 2039/07/27 100, Nova Scotia Power Incorporated, 4.150%, 2042/03/06 2,465,000 2,476 2,466 Nova Scotia Power Incorporated, 4.500%, 2043/07/20 2,600,000 2,618 2,737 Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Nova Scotia Power Incorporated, 3.612%, 2045/05/01 1,000,000 1, OMERS Realty Corporation, 3.203%, 2020/07/24 450, OMERS Realty Corporation, 3.358%, 2023/06/05 2,500,000 2,664 2,651 Ottawa Macdonald-Cartier International Airport Authority, 4.733%, 2017/05/02 740, Ottawa Macdonald-Cartier International Airport Authority, 3.933%, 2045/06/09 650, Pembina Pipeline Corporation, 3.540%, 2025/02/03 3,000,000 3,040 2,910 Pembina Pipeline Corporation, 4.240%, 2027/06/15 3,500,000 3,500 3,487 Pembina Pipeline Corporation, 4.810%, 2044/03/25 3,260,000 3,257 3,046 Plenary Health Care Partnerships Humber LP, 4.895%, 2039/05/31 2,398,401 2,398 2,678 Plenary Properties LTAP L.P., 6.288%, 2044/01/31 2,116,100 2,222 2,742 Power Corporation of Canada, 7.570%, 2019/04/22 685, Power Corporation of Canada, 8.570%, 2039/04/22 428, Power Financial Corporation, 6.900%, 2033/03/11 565, PowerStream Inc., 3.958%, 2042/07/30 1,000,000 1, RBC Capital Trust, 6.821%, 2018/06/30 770, RioCan Real Estate Investment Trust, 3.800%, 2017/03/01 2,000,000 2,017 2,047 RioCan Real Estate Investment Trust, 2.870%, 2018/03/05 5,000,000 4,999 5,097 RioCan Real Estate Investment Trust, 3.850%, 2019/06/28 2,350,000 2,360 2,482 RioCan Real Estate Investment Trust, 3.620%, 2020/06/01 5,300,000 5,367 5,561 RioCan Real Estate Investment Trust, 3.746%, 2022/05/30 4,000,000 4,018 4,165 RioCan Real Estate Investment Trust, 3.725%, 2023/04/18 1,200,000 1,202 1,236 Rogers Communications Inc., 2.800%, 2019/03/13 3,260,000 3,258 3,342 Rogers Communications Inc., 5.380%, 2019/11/04 1,635,000 1,757 1,827 Rogers Communications Inc., 4.700%, 2020/09/29 3,900,000 4,175 4,295 Rogers Communications Inc., 5.340%, 2021/03/22 5,000,000 5,105 5,664 Rogers Communications Inc., 4.000%, 2022/06/06 2,000,000 1,994 2,128 Rogers Communications Inc., 6.680%, 2039/11/04 1,000, ,229 Rogers Communications Inc., 6.110%, 2040/08/25 1,455,000 1,454 1,675 71

72 POOLED AND INDEXED FUNDS Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Rogers Communications Inc., 6.560%, 2041/03/22 1,500,000 1,805 1,825 Royal Bank of Canada, 3.660%, 2017/01/25 4,915,000 4,916 5,044 Royal Bank of Canada, 2.580%, 2017/04/13 4,000,000 4,000 4,070 Royal Bank of Canada, 2.364%, 2017/09/21 4,500,000 4,505 4,581 Royal Bank of Canada, 2.260%, 2018/03/12 10,500,000 10,534 10,689 Royal Bank of Canada, 2.820%, 2018/07/12 1,650,000 1,650 1,704 Royal Bank of Canada, 2.890%, 2018/10/11 5,000,000 5,000 5,182 Royal Bank of Canada, 2.770%, 2018/12/11 5,000,000 5,002 5,170 Royal Bank of Canada, 2.980%, 2019/05/07 6,600,000 6,639 6,883 Royal Bank of Canada, 2.350%, 2019/12/09 4,000,000 3,999 4,085 Royal Bank of Canada, 1.920%, 2020/07/17 4,500,000 4,496 4,499 Royal Bank of Canada, 2.860%, 2021/03/04 3,150,000 3,150 3,270 Royal Bank of Canada, 1.968%, 2022/03/02 5,530,000 5,533 5,417 Royal Bank of Canada, 2.990%, 2024/12/06 6,000,000 6,000 6,191 Royal Bank of Canada, 4.930%, 2025/07/16 2,030,000 2,049 2,401 Scotiabank Capital Trust, 5.650%, 2056/12/31 1,644,000 1,682 1,881 Scotiabank Tier 1 Trust, 7.802%, 2108/06/30 1,080,000 1,091 1,269 Shaw Communications Inc., 5.650%, 2019/10/01 5,245,000 5,376 5,829 Shaw Communications Inc., 5.500%, 2020/12/07 1,470,000 1,466 1,650 Shaw Communications Inc., 4.350%, 2024/01/31 4,900,000 4,972 5,130 Shaw Communications Inc., 6.750%, 2039/11/09 4,470,000 4,845 5,149 Shoppers Drug Mart Corporation, 2.360%, 2018/05/24 1,200,000 1,200 1,219 SNC-Lavalin Innisfree McGill Finance Inc., 6.632%, 2044/06/30 1,486,719 1,528 1,919 Sobeys Inc., 7.160%, 2018/02/26 400, Sobeys Inc., 4.700%, 2023/08/08 2,500,000 2,500 2,727 Sobeys Inc., 6.060%, 2035/10/29 1,500,000 1,656 1,679 Sobeys Inc., 6.640%, 2040/06/07 1,000,000 1,001 1,183 SSL Finance Inc. / SSL Financement Inc., 4.176%, 2049/04/30 2,000,000 2,000 1,990 Sun Life Capital Trust, 7.093%, 2052/06/30 220, Sun Life Capital Trust II, 5.863%, 2108/12/31 370, Sun Life Financial Inc., 5.700%, 2019/07/02 985,000 1,002 1,114 Sun Life Financial Inc., 4.570%, 2021/08/23 2,500,000 2,486 2,795 Sun Life Financial Inc., 4.380%, 2022/03/02 2,500,000 2,547 2,574 Sun Life Financial Inc., 5.590%, 2023/01/30 600, Sun Life Financial Inc., 2.770%, 2024/05/13 1,000,000 1,000 1,016 Sun Life Financial Inc., 2.600%, 2025/09/25 800, Sun Life Financial Inc., 5.400%, 2042/05/29 1,995,000 1,862 2,230 Suncor Energy Inc., 5.800%, 2018/05/22 2,480,000 2,510 2,709 Suncor Energy Inc., 3.100%, 2021/11/26 2,800,000 2,912 2,878 Suncor Energy Inc., 5.390%, 2037/03/26 3,700,000 3,988 3,972 TD Capital Trust III, 7.243%, 2018/12/31 2,375,000 2,412 2,715 TD Capital Trust IV, 6.631%, 2108/06/30 740, Par value TD Capital Trust IV, 9.523%, 2108/06/30 1,980,000 2,207 2,428 TELUS Corporation, 4.950%, 2017/03/15 1,285,000 1,276 1,336 TELUS Corporation, 1.500%, 2018/03/27 1,000,000 1, TELUS Corporation, 5.050%, 2019/12/04 4,390,000 4,518 4,867 TELUS Corporation, 5.050%, 2020/07/23 4,950,000 5,230 5,530 TELUS Corporation, 3.200%, 2021/04/05 1,090,000 1,088 1,127 TELUS Corporation, 2.350%, 2022/03/28 2,860,000 2,853 2,791 TELUS Corporation, 3.350%, 2023/03/15 1,500,000 1,445 1,530 TELUS Corporation, 3.350%, 2024/04/01 1,875,000 1,867 1,884 TELUS Corporation, 3.750%, 2025/01/17 3,000,000 3,118 3,072 TELUS Corporation, 4.400%, 2043/04/01 1,000, TELUS Corporation, 5.150%, 2043/11/26 1,550,000 1,542 1,588 TELUS Corporation, 4.850%, 2044/04/05 3,730,000 3,677 3,646 TELUS Corporation, 4.400%, 2046/01/29 1,000,000 1, The Manufacturers Life Insurance Company, 4.165%, 2022/06/01 1,900,000 1,900 1,966 The Manufacturers Life Insurance Company, 2.926%, 2023/11/29 1,600,000 1,600 1,643 The Manufacturers Life Insurance Company, 2.811%, 2024/02/21 3,400,000 3,400 3,479 The Manufacturers Life Insurance Company, 2.640%, 2025/01/15 3,000,000 3,000 3,055 The Manufacturers Life Insurance Company, 2.100%, 2025/06/01 1,500,000 1,500 1,488 The Manufacturers Life Insurance Company, 3.181%, 2027/11/22 3,500,000 3,500 3,554 Thomson Reuters Corporation, 3.369%, 2019/05/23 1,500,000 1,568 1,559 Thomson Reuters Corporation, 4.350%, 2020/09/30 1,500,000 1,500 1,623 Thomson Reuters Corporation, 3.309%, 2021/11/12 1,700,000 1,758 1,744 THP Partnership, 4.394%, 2046/10/31 1,750,000 1,750 1,840 Toronto Hydro Corporation, 5.150%, 2017/11/14 1,040,000 1,046 1,114 Toronto Hydro Corporation, 4.490%, 2019/11/12 585, Toronto Hydro Corporation, 3.540%, 2021/11/18 500, Toronto Hydro Corporation, 2.910%, 2023/04/10 2,800,000 2,800 2,922 Toronto Hydro Corporation, 3.550%, 2045/07/28 1,000, Toronto-Dominion Bank, (The), 1.824%, 2017/04/03 5,000,000 5,000 5,042 Toronto-Dominion Bank, (The), 2.433%, 2017/08/15 8,000,000 8,051 8,156 Toronto-Dominion Bank, (The), 2.171%, 2018/04/02 5,400,000 5,383 5,495 Toronto-Dominion Bank, (The), 2.447%, 2019/04/02 6,000,000 6,015 6,156 Toronto-Dominion Bank, (The), 1.693%, 2020/04/02 2,100,000 2,100 2,089 72

73 Par value Toronto-Dominion Bank, (The), 2.563%, 2020/06/24 750, Toronto-Dominion Bank, (The), 2.621%, 2021/12/22 3,800,000 3,823 3,883 Toronto-Dominion Bank, (The), 5.828%, 2023/07/09 1,530,000 1,551 1,680 Toronto-Dominion Bank, (The), 3.226%, 2024/07/24 5,150,000 5,308 5,378 Toronto-Dominion Bank, (The), 9.150%, 2025/05/26 125, Toronto-Dominion Bank, (The), 5.763%, 2106/12/18 5,530,000 5,608 5,927 Toyota Credit Canada Inc., 2.450%, 2017/02/27 1,750,000 1,751 1,773 Toyota Credit Canada Inc., 2.250%, 2019/05/23 4,750,000 4,831 4,834 Toyota Credit Canada Inc., 1.800%, 2020/02/19 750, Toyota Credit Canada Inc., 2.050%, 2020/05/20 4,500,000 4,499 4,537 TransAlta Corporation, 5.000%, 2020/11/25 1,500,000 1,494 1,373 TransAlta Corporation, 6.900%, 2030/11/15 1,465,000 1,548 1,204 TransCanada PipeLines Limited, 5.100%, 2017/01/11 1,100,000 1,136 1,140 TransCanada PipeLines Limited, 9.450%, 2018/03/20 355, TransCanada PipeLines Limited, %, 2020/11/20 790,000 1,006 1,127 TransCanada PipeLines Limited, 3.650%, 2021/11/15 5,000,000 5,226 5,330 TransCanada PipeLines Limited, 9.950%, 2022/12/01 495, TransCanada PipeLines Limited, 3.690%, 2023/07/19 2,000,000 2,000 2,116 TransCanada PipeLines Limited, 8.290%, 2026/02/05 1,546,000 2,066 2,130 TransCanada PipeLines Limited, 7.310%, 2027/01/15 314, TransCanada PipeLines Limited, 7.900%, 2027/04/15 350, TransCanada PipeLines Limited, 6.890%, 2028/08/07 250, TransCanada PipeLines Limited, 6.500%, 2030/12/09 200, TransCanada PipeLines Limited, 8.230%, 2031/01/16 705, TransCanada PipeLines Limited, 4.550%, 2041/11/15 3,800,000 3,772 3,844 UMH Energy Partnership, 7.586%, 2041/05/08 560, Union Gas Limited, 9.700%, 2017/11/06 500, Union Gas Limited, 5.350%, 2018/04/27 330, Union Gas Limited, 4.850%, 2022/04/25 75, Union Gas Limited, 3.190%, 2025/09/17 480, Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Union Gas Limited, 5.460%, 2036/09/11 1,690,000 1,655 1,983 Union Gas Limited, 5.200%, 2040/07/23 490, Union Gas Limited, 4.200%, 2044/06/02 2,550,000 2,552 2,578 Vancouver Fraser Port Authority, 4.630%, 2020/04/20 500, Vancouver International Airport Authority, 4.424%, 2018/12/07 1,510,000 1,550 1,647 Wells Fargo Financial Canada Corporation, 2.774%, 2017/02/09 4,400,000 4,400 4,476 Wells Fargo Financial Canada Corporation, 2.944%, 2019/07/25 5,800,000 5,838 6,052 Wells Fargo Financial Canada Corporation, 3.040%, 2021/01/29 3,650,000 3,695 3,825 Wells Fargo Financial Canada Corporation, 3.460%, 2023/01/24 3,100,000 3,109 3,295 West Edmonton Mall Property Inc., 4.309%, 2024/02/13 3,265,000 3,519 3,488 Westcoast Energy Inc., 8.500%, 2018/09/04 1,000,000 1,137 1,162 Westcoast Energy Inc., 5.600%, 2019/01/16 2,930,000 3,169 3,229 Westcoast Energy Inc., 9.900%, 2020/01/10 100, Westcoast Energy Inc., 4.570%, 2020/07/02 2,200,000 2,217 2,401 Westcoast Energy Inc., 3.120%, 2022/12/05 2,000,000 1,999 2,014 Westcoast Energy Inc., 8.850%, 2025/07/21 525, Westcoast Energy Inc., 6.750%, 2027/12/15 1,150,000 1,142 1,437 Winnipeg Airport Authority, 4.569%, 2019/11/20 1,000,000 1,067 1,113 Winnipeg Airport Authority, 5.205%, 2040/09/28 82, Winnipeg Airport Authority, 6.102%, 2040/11/20 260, ASSET-BACKED SECURITIES 0.63% CARDS II Trust, 2.155%, 2020/10/15 1,000,000 1,000 1,008 Genesis Trust II, 1.675%, 2018/09/17 2,000,000 2,000 2,006 Genesis Trust II, 2.433%, 2019/05/15 5,000,000 5,174 5,124 Genesis Trust II, 1.699%, 2020/04/15 3,000,000 3,000 2,984 Glacier Credit Card Trust, 2.807%, 2017/05/20 900, Glacier Credit Card Trust, 2.394%, 2017/10/20 1,200,000 1,200 1,220 Glacier Credit Card Trust, 2.568%, 2019/09/20 800, Glacier Credit Card Trust, 2.237%, 2020/09/20 2,000,000 2,000 2,013 Hollis Receivables Term Trust II, 2.434%, 2019/06/26 4,000,000 4,000 4,094 Master Credit Card Trust, 2.626%, 2017/01/21 3,300,000 3,306 3,351 TOTAL CANADIAN BONDS 99.24% 3,531,378 3,730,030 U.S. BONDS CORPORATE 0.16% Great-West Lifeco Finance (Delaware) Limited Partnership, 5.691%, 2067/06/21 3,220,000 3,201 3,389 73

74 POOLED AND INDEXED FUNDS Manulife Canadian Bond Index Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Great-West Lifeco Finance (Delaware) Limited Partnership, 7.127%, 2068/06/26 1,015,000 1,044 1,139 Manulife Finance (Delaware), Limited Partnership, 5.059%, 2041/12/15 1,295,000 1,151 1,356 TOTAL U.S. BONDS 0.16% 5,396 5,884 SHORT-TERM INVESTMENTS Banner Trust, 0.650%, 2016/01/04 13,410,000 13,409 13,407 Government of Canada, 0.365%, 2016/01/06 3,600,000 3,600 3,600 TOTAL SHORT-TERM INVESTMENTS 0.45% 17,009 17,007 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.85% 3,553,783 3,752,921 Other assets, less liabilities 0.15% 5,774 5,774 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 3,559,557 3,758,695 % of net assets attributable to contractholders as at December 31, 2014 Canadian bonds Federal and federally guaranteed Provincial and provincially guaranteed Corporate Other 2.62 U.S. Bonds 0.21 Short-term investments 0.30 Other assets, less liabilities

75 Manulife Asset Management Real Return Bond Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 80,384 81,347 Cash Subscriptions receivable Interest, dividends and other receivables ,766 81,696 LIABILITIES Current liabilities Redemptions payable NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 80,748 81,673 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 1,868 4,251 Other income (loss) - 40 investments and derivatives 369 5,412 2,237 9,703 EXPENSES Custodian fees 8 7 Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 2,221 9,690 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 81,673 71,163 ATTRIBUTABLE TO CONTRACTHOLDERS 2,221 9,690 CAPITAL UNIT TRANSACTIONS Units sold 12,504 13,767 Units redeemed (15,650) (12,947) Net capital unit transactions (3,146) 820 end of year 80,748 81,673 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 2,221 9,690 Adjustments for: investments and derivatives (369) (5,412) Non cash interest on fixed income investments 540 (1,108) Purchase of investments (33,328) (46,658) Proceeds from sale and maturity of investments 34,120 42,615 (Increase) decrease in interest, dividends and other receivables 4 (7) Net cash from operating activities 3,188 (880) Cash flows used in financing activities Proceeds from sale of units 12,472 13,852 Payments for units redeemed (15,655) (12,929) Net cash used in financing activities (3,183) 923 Net increase (decrease) in cash 5 43 Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received 2,412 3,136 75

76 POOLED AND INDEXED FUNDS Manulife Asset Management Real Return Bond Fund (expressed in thousands of dollars, except par values) Par value CANADIAN BONDS FEDERAL AND FEDERALLY GUARANTEED 86.96% Government of Canada, 4.250%, 2021/12/01 4,960,000 9,772 9,679 Government of Canada, 4.250%, 2026/12/01 5,202,000 10,823 10,902 Government of Canada, 4.000%, 2031/12/01 5,796,000 12,362 12,595 Government of Canada, 3.000%, 2036/12/01 5,829,000 10,141 10,736 Government of Canada, 2.000%, 2041/12/01 6,533,000 9,097 9,941 Government of Canada, 1.500%, 2044/12/01 7,635,000 10,168 10,271 Government of Canada, 1.250%, 2047/12/01 5,050,000 5,907 6,096 PROVINCIAL AND PROVINCIALLY GUARANTEED 12.59% Province of Manitoba, 1.738%, 2018/12/01 115, Province of Manitoba, 2.000%, 2036/12/01 109, Province of Ontario, 2.000%, 2036/12/01 3,076,000 3,820 4,101 Province of Quebec, 4.500%, 2021/12/01 630,000 1,068 1,035 Province of Quebec, 4.500%, 2026/12/01 922,000 1,823 1,777 Province of Quebec, 4.250%, 2031/12/01 974,000 1,853 1,848 Province of Quebec, 3.250%, 2036/12/01 755,000 1,140 1,119 TOTAL CANADIAN BONDS 99.55% 78,252 80,384 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.55% 78,252 80,384 Other assets, less liabilities 0.45% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 78,616 80,748 % of net assets attributable to contractholders as at December 31, 2014 Canadian bonds Federal and federally guaranteed Provincial and provincially guaranteed Other assets, less liabilities

77 Manulife Asset Management Diversified Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 918,565 1,081,879 Cash 627 1,897 Subscriptions receivable 558 5,599 Receivable from investments sold Interest, dividends and other receivables 2,105 2, ,855 1,092,583 LIABILITIES Current liabilities Redemptions payable 534 5,279 Payable on investments purchased - 1,991 Accrued expenses 3 3 Other liabilities - 9 Payable secured by securities 12,872-13,409 7,282 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 908,446 1,085,301 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 7,027 8,895 Dividends 11,902 15,858 Distribution income from underlying funds 3,461 3,404 Foreign exchange gain (loss) Other income (loss) - 1 investments and derivatives 49,568 69,238 72,068 98,042 EXPENSES Custodian fees Interest 3 - Other operating expenses Foreign withholding taxes Transaction s ,329 1,638 ATTRIBUTABLE TO CONTRACTHOLDERS 70,739 96,404 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 1,085,301 1,093,571 ATTRIBUTABLE TO CONTRACTHOLDERS 70,739 96,404 CAPITAL UNIT TRANSACTIONS Units sold 126, ,433 Units redeemed (374,515) (258,107) Net capital unit transactions (247,594) (104,674) end of year 908,446 1,085,301 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 70,739 96,404 Adjustments for: Foreign exchange gain (loss) (110) (646) investments and derivatives (49,568) (69,238) Non cash interest on fixed income investments Purchase of investments (1,667,068) (1,698,455) Proceeds from sale and maturity of investments 1,878,327 1,768,280 (Increase) decrease in interest, dividends and other receivables Increase (decrease) in accrued expenses, other liabilities and payable secured by securities 12,863 (3) Net cash from operating activities 245,918 96,910 Cash flows used in financing activities Proceeds from sale of units 131, ,315 Payments for units redeemed (379,260) (253,016) Net cash used in financing activities (247,298) (104,701) Foreign exchange gain (loss) Net increase (decrease) in cash (1,270) (7,145) Cash (bank indebtedness) at beginning of year 1,897 9,042 Cash (bank indebtedness) at end of year 627 1,897 Supplemental disclosures on cash flows from operating activities Interest received 7,816 9,558 Dividend received, net of withholding taxes 11,479 15,157 77

78 POOLED AND INDEXED FUNDS Manulife Asset Management Diversified Fund (expressed in thousands of dollars, except par values) Par value CANADIAN BONDS FEDERAL AND FEDERALLY GUARANTEED 8.84% Canada Housing Trust No. 1, 1.700%, 2017/12/15 865, Canada Housing Trust No. 1, 1.250%, 2020/12/15 1,540,000 1,536 1,539 Government of Canada, 3.250%, 2021/06/01 18,890,000 20,031 21,273 Government of Canada, 1.500%, 2023/06/01 47,129,000 47,789 48,227 Government of Canada, 2.250%, 2025/06/01 5,070,000 5,393 5,451 Government of Canada, 2.750%, 2048/12/01 2,565,000 2,799 2,909 PROVINCIAL AND PROVINCIALLY GUARANTEED 3.70% Financement-Québec, 5.250%, 2034/06/01 1,740,000 1,865 2,238 OPB Finance Trust, 1.880%, 2022/02/24 595, Province of British Columbia, 6.350%, 2031/06/18 455, Province of British Columbia, 4.700%, 2037/06/18 900,000 1,149 1,130 Province of British Columbia, 2.800%, 2048/06/18 1,580,000 1,452 1,486 Province of Manitoba, 4.050%, 2045/09/05 2,040,000 2,139 2,300 Province of Nova Scotia, 5.800%, 2033/06/01 295, Province of Ontario, 3.150%, 2022/06/02 650, Province of Ontario, 2.850%, 2023/06/02 1,590,000 1,657 1,683 Province of Ontario, 3.500%, 2024/06/02 7,185,000 7,851 7,914 Province of Ontario, 2.600%, 2025/06/02 2,545,000 2,577 2,602 Province of Ontario, 4.600%, 2039/06/02 3,155,000 3,613 3,874 Province of Ontario, 3.450%, 2045/06/02 2,050,000 1,990 2,145 Province of Ontario, 2.900%, 2046/12/02 2,055,000 1,886 1,932 Province of Quebec, 6.000%, 2029/10/01 400, Province of Quebec, 5.000%, 2038/12/01 1,650,000 1,863 2,117 Province of Quebec, 3.500%, 2045/12/01 1,270,000 1,239 1,333 MUNICIPALS AND SCHOOLS 2.13% Municipal Finance Authority of British Columbia, 4.950%, 2027/12/01 1,060,000 1,057 1,285 Ontario School Boards Financing Corporation, 6.550%, 2026/10/19 3,853,477 4,107 4,783 Regional Municipality of Peel, 5.100%, 2040/06/29 275, The Regional Municipality of York, 4.000%, 2021/06/30 4,150,000 4,275 4,624 Toronto, City of, 5.050%, 2017/07/18 1,290,000 1,346 1,372 Toronto, City of, 4.950%, 2018/06/27 970, ,062 Ville de Montréal, 5.000%, 2018/12/01 2,065,000 2,091 2,279 Ville de Montréal, 4.250%, 2032/12/01 1,760,000 1,750 1,939 Ville de Montréal, 4.100%, 2034/12/01 310, Winnipeg, City of, 5.200%, 2036/07/17 1,085,000 1,082 1,348 Par value CORPORATE 7.68% Alliance Pipeline Limited Partnership, 7.217%, 2025/12/31 967, ,141 AltaGas Ltd., 4.500%, 2044/08/15 215, Bank of Montreal, 3.103%, 2016/03/10 2,080,000 2,088 2,088 Bank of Montreal, 3.120%, 2024/09/19 580, Bank of Nova Scotia, (The), 2.598%, 2017/02/27 1,110,000 1,119 1,128 Bank of Nova Scotia, (The), 2.370%, 2018/01/11 1,240,000 1,246 1,264 Bank of Nova Scotia, (The), 2.580%, 2027/03/30 1,285,000 1,285 1,217 Bell Canada, 5.000%, 2017/02/15 1,915,000 1,977 1,987 Bell Canada, 7.850%, 2031/04/02 600, Bell Canada, 4.750%, 2044/09/29 1,760,000 1,744 1,735 Brookfield Infrastructure Finance ULC, 3.538%, 2020/10/30 410, Caisse centrale Desjardins, 1.748%, 2020/03/02 1,145,000 1,138 1,138 Cameco Corporation, 3.750%, 2022/11/14 650, Canadian Hydro Developers, Inc., 7.027%, 2018/06/11 2,835,000 2,835 2,845 Canadian Imperial Bank of Commerce, 0.968%, 2016/04/08 1,520,000 1,520 1,520 Canadian Imperial Bank of Commerce, 2.350%, 2017/10/18 1,625,000 1,643 1,655 Canadian Imperial Bank of Commerce, 3.000%, 2024/10/28 1,015,000 1,015 1,018 Capital Desjardins Inc., 5.187%, 2020/05/05 470, Choice Properties Limited Partnership, 3.000%, 2017/04/20 295, Choice Properties Limited Partnership, 3.600%, 2020/04/20 1,415,000 1,441 1,491 Choice Properties Real Estate Investment Trust, 4.903%, 2023/07/05 310, Choice Properties Real Estate Investment Trust, 4.293%, 2024/02/08 435, Enbridge Inc., 4.240%, 2042/08/27 880, Enbridge Southern Lights LP, 4.014%, 2040/06/30 458, Ford Credit Canada Limited, 2.634%, 2016/11/21 3,230,000 3,238 3,254 Ford Credit Canada Limited, 3.700%, 2018/08/02 1,835,000 1,863 1,899 General Motors Financial Company of Canada, Ltd., 3.080%, 2020/05/22 1,340,000 1,339 1,343 Health Montréal Collective Limited Partnership, 6.721%, 2049/09/30 1,085,000 1,085 1,412 HSBC Bank Canada, 3.558%, 2017/10/04 625, HSBC Bank Canada, 2.908%, 2021/09/29 790, Inter Pipeline Ltd., 4.637%, 2044/05/30 215, Laurentian Bank of Canada, 3.278%, 2018/10/15 645,

79 Manulife Asset Management Diversified Fund (expressed in thousands of dollars, except par values) Par value Laurentian Bank of Canada, 2.810%, 2019/06/13 1,525,000 1,525 1,551 Laurentian Bank of Canada, 2.500%, 2020/01/23 1,245,000 1,244 1,242 Loblaw Companies Limited, 4.860%, 2023/09/12 665, Loblaw Companies Limited, 5.900%, 2036/01/18 1,135,000 1,049 1,318 Magna International Inc., 3.100%, 2022/12/15 105, National Bank of Canada, 2.050%, 2016/01/11 2,064,000 2,065 2,064 National Bank of Canada, 2.702%, 2016/12/15 1,895,000 1,906 1,923 National Bank of Canada, 1.742%, 2020/03/03 350, North Battleford Power L.P., 4.958%, 2032/12/31 1,166,380 1,166 1,328 NorthwestConnect General Partnership, 5.950%, 2041/04/30 1,254,217 1,261 1,555 Pembina Pipeline Corporation, 4.810%, 2044/03/25 395, RioCan Real Estate Investment Trust, 3.850%, 2019/06/28 820, RioCan Real Estate Investment Trust, 3.287%, 2024/02/12 205, Rogers Communications Inc., 6.560%, 2041/03/22 740, Royal Bank of Canada, 3.360%, 2016/01/11 1,521,000 1,522 1,521 Royal Bank of Canada, 2.580%, 2017/04/13 1,975,000 1,988 2,009 Royal Bank of Canada, 3.040%, 2024/07/17 3,200,000 3,200 3,220 Royal Bank of Canada, 3.450%, 2026/09/29 1,055,000 1,055 1,057 Shaw Communications Inc., 5.500%, 2020/12/07 740, Sobeys Inc., 4.700%, 2023/08/08 795, Sun Life Financial Inc., 4.570%, 2021/08/23 440, Sun Life Financial Inc., 2.600%, 2025/09/25 195, TELUS Corporation, 4.950%, 2017/03/15 965, ,004 TELUS Corporation, 5.150%, 2043/11/26 780, TELUS Corporation, 4.750%, 2045/01/17 545, The Manufacturers Life Insurance Company, 2.819%, 2023/02/26 750, The Manufacturers Life Insurance Company, 2.811%, 2024/02/21 1,000,000 1,000 1,023 The Manufacturers Life Insurance Company, 3.181%, 2027/11/22 1,125,000 1,125 1,142 Toronto-Dominion Bank, (The), 5.828%, 2023/07/09 470, Toronto-Dominion Bank, (The), 2.982%, 2025/09/30 140, Toronto-Dominion Bank, (The), 4.779%, 2105/12/14 2,545,000 2,566 2,614 Par value or shares Wells Fargo Financial Canada Corporation, 2.774%, 2017/02/09 585, ASSET-BACKED SECURITIES 0.34% Glacier Credit Card Trust, 2.394%, 2017/10/20 955, Master Credit Card Trust, 2.626%, 2017/01/21 2,105,000 2,107 2,137 TOTAL CANADIAN BONDS 22.69% 198, ,212 U.S. BONDS CORPORATE 0.57% Citigroup Inc., 3.390%, 2021/11/18 905, Goldman Sachs Group, Inc., (The), 3.375%, 2018/02/01 1,300,000 1,308 1,347 JPMorgan Chase & Co., 2.920%, 2017/09/19 2,230,000 2,246 2,287 JPMorgan Chase & Co., 3.190%, 2021/03/05 605, TOTAL U.S. BONDS 0.57% 5,064 5,207 FOREIGN BONDS SUPRANATIONALS 0.24% Inter-American Development Bank, 4.400%, 2026/01/26 1,835,000 1,754 2,142 TOTAL FOREIGN BONDS 0.24% 1,754 2,142 EQUITIES ENERGY 5.26% Apache Corporation 19,187 1,584 1,181 ARC Resources Ltd. 72,591 1,988 1,212 Baytex Energy Corp. 234,815 3,399 1,052 Canadian Energy Services & Technology Corp. 489,178 2,730 1,898 Canadian Natural Resources Limited 243,685 6,504 7,364 Cenovus Energy Inc. 197,552 5,385 3,457 Chevron Corporation 6, Enbridge Inc. 198,975 8,004 9,153 Exxon Mobil Corporation 10,193 1,056 1,100 MEG Energy Corp. 79,533 1, Occidental Petroleum Corporation 20,401 2,117 1,909 PEYTO Exploration & Development Corp. 45,459 1,551 1,131 Schlumberger Limited 29,571 2,757 2,855 Secure Energy Services Inc. 192,931 3,215 1,613 ShawCor Ltd. 37,411 1,966 1,050 Suncor Energy Inc. 197,076 6,186 7,040 Tourmaline Oil Corp. 69,437 3,273 1,552 Vermilion Energy Inc. 74,192 3,435 2,790 MATERIALS 1.82% Agnico-Eagle Mines Limited 82,656 2,554 3,006 Agrium Inc. 32,856 3,448 4,063 First Quantum Minerals Ltd. 94,897 2, Goldcorp Inc. 161,687 4,307 2,585 Hudbay Minerals Inc. 69, Lundin Mining Corporation 510,203 2,926 1,939 Tahoe Resources Inc. 78,074 1, West Fraser Timber Co. Ltd. 59,515 2,271 3,126 79

80 POOLED AND INDEXED FUNDS Shares INDUSTRIALS 4.36% Boyd Group Income Fund 27,134 1,518 1,794 Canadian National Railway Company 200,757 6,354 15,529 Canadian Pacific Railway Limited 14,440 3,295 2,552 Caterpillar Inc. 11,846 1,247 1,114 Danaher Corporation 11,697 1,242 1,504 General Electric Company 55,317 1,786 2,385 Stantec Inc. 158,211 3,785 5,430 United Parcel Service, Inc., B 12,815 1,608 1,707 United Rentals, Inc. 13,861 1,241 1,392 United Technologies Corporation 15,735 1,982 2,092 WSP Global Inc. 97,195 4,145 4,132 CONSUMER DISCRETIONARY 6.17% Adidas AG 22,866 1,246 1,535 Amazon.com, Inc. 7,650 3,592 7,156 CarMax, Inc. 35,530 2,897 2,654 Cineplex Inc. 94,674 3,481 4,502 Dollarama Inc. 51,251 1,149 4,097 Gildan Activewear Inc. 159,324 3,715 6,268 IMAX Corporation 58,629 1,956 2,884 Lennar Corporation 63,311 3,883 4,286 Lowe's Companies Inc. 31,971 2,858 3,365 Magna International Inc. 62,514 2,018 3,508 NVR, Inc. 1,504 2,536 3,420 Ralph Lauren Corporation 25,817 4,321 3,983 Restaurant Brands International Inc. 65,824 3,271 3,406 Tempur Sealy International, Inc. 28,153 1,897 2,745 Thomson Reuters Corporation 43,148 2,248 2,261 CONSUMER STAPLES 2.91% Alimentation Couche-Tard Inc., Subordinated Voting, B 177,106 3,142 10,788 Diageo PLC, Sponsored (ADR) 8,560 1,241 1,292 George Weston Limited 12,458 1,234 1,332 Groupe Danone, Sponsored (ADR) 112,914 1,840 2,127 Loblaw Companies Limited 77,274 3,780 5,049 Mead Johnson Nutrition Company 12,760 1,260 1,394 PepsiCo Inc. 16,837 1,865 2,328 Procter & Gamble Company, (The) 19,290 1,858 2,120 HEALTH CARE 2.67% Amgen Inc. 11,890 1,369 2,671 Concordia Healthcare Corp. 52,266 3,632 2,955 Medtronic Public Limited Company 19,845 1,836 2,113 Merck & Co., Inc. 29,568 1,757 2,162 Novadaq Technologies Inc. 154,796 2,031 2,746 Novartis AG, Sponsored (ADR) 17,982 2,233 2,141 Valeant Pharmaceuticals International, Inc. 67,149 7,956 9,438 FINANCIALS 14.32% American Express Company 16,258 1,583 1,565 American International Group Inc. 39,954 2,770 3,427 American Tower Corporation 16,807 1,945 2,255 Manulife Asset Management Diversified Fund (expressed in thousands of dollars) Shares or units Bank of America Corporation 221,174 4,368 5,152 Bank of Montreal 26,738 2,202 2,088 Bank of Nova Scotia, (The) 243,881 12,740 13,650 BlackRock, Inc. 3,000 1,248 1,414 Brookfield Asset Management Inc., Limited Voting, A 163,425 5,557 7,134 Brookfield Property Partners L.P. 107,525 2,804 3,464 Canadian Imperial Bank of Commerce 39,935 3,790 3,642 Canadian Western Bank 68,938 2,032 1,612 Citigroup Inc. 65,522 3,335 4,693 Element Financial Corporation 421,607 4,067 7,041 Goldman Sachs Group, Inc., (The) 14,791 3,350 3,689 Industrial Alliance Insurance and Financial Services Inc. 150,026 6,162 6,621 J.P. Morgan Chase & Co. 59,157 4,336 5,406 Manulife Financial Corporation (1) 588,952 10,747 12,213 Morgan Stanley 26,297 1,185 1,158 Prudential Financial Inc. 10,525 1,155 1,186 Royal Bank of Canada 267,300 12,609 19,820 T. Rowe Price Group Inc. 13,109 1,332 1,297 Toronto-Dominion Bank, (The) 372,157 12,820 20,186 Wells Fargo & Company 18,633 1,248 1,402 INFORMATION TECHNOLOGY 4.56% Alibaba Group Holding Limited, Sponsored ADR 17,507 1,714 1,969 Alphabet Inc., A 3,418 2,250 3,680 Alphabet Inc., C 2,781 1,772 2,921 Apple Inc. 38,620 3,323 5,626 CGI Group Inc., Subordinated Voting, A 149,123 5,220 8,261 Cisco Systems Inc. 71,129 2,483 2,673 Facebook, Inc., A 37,131 3,326 5,378 IHS Inc. 13,820 2,070 2,265 LinkedIn Corporation, A 6,355 1,804 1,980 Open Text Corporation 54,551 1,860 3,619 Oracle Corporation 21,910 1,207 1,108 Qualcomm Incorporated 27,785 2,513 1,922 TELECOMMUNICATIONS 1.31% Rogers Communications Inc., B 114,607 5,274 5,469 TELUS Corporation 167,903 5,567 6,424 UTILITIES 0.58% Brookfield Infrastructure Partners L.P. 100,029 4,054 5,240 TRUST UNITS 6.65% ishares, S&P/TSX 60 Index Fund 1,182,326 24,118 22,724 ishares, MSCI EAFE ETF 60,200 4,673 4,892 SPDR S&P 500 ETF 116,216 26,709 32,788 TOTAL EQUITIES 50.61% 387, ,733 INVESTMENTS IN UNDERLYING FUNDS Manulife International Stock Fund UT 7,482, , ,997 TOTAL INVESTMENTS IN UNDERLYING FUNDS 15.30% 117, ,997 80

81 Manulife Asset Management Diversified Fund (expressed in thousands of dollars, except par values) Par value SHORT-TERM INVESTMENTS Banner Trust, 0.650%, 2016/01/04 1,680,000 1,680 1,680 Federal Home Loan Bank, Discount Notes, 0.304%, 2016/04/08 1,850,000 2,567 2,558 Federal Home Loan Bank, Discount Notes, 0.294%, 2016/04/26 7,680,000 10,654 10,618 Government of Canada, 0.492%, 2016/01/14 25,200,000 25,196 25,198 Government of Canada, 0.405%, 2016/01/28 3,800,000 3,799 3,799 Government of Canada, 0.431%, 2016/02/11 10,000,000 9,995 9,995 Par value Government of Canada, 0.405%, 2016/02/25 10,500,000 10,494 10,493 Government of Canada, 0.431%, 2016/04/07 21,000,000 20,976 20,973 Government of Canada, 0.478%, 2016/04/21 3,000,000 2,996 2,996 Government of Canada, 0.471%, 2016/06/02 18,000,000 17,965 17,964 TOTAL SHORT-TERM INVESTMENTS 11.70% 106, ,274 Transaction s (432) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 815, ,565 Other assets, less liabilities (1.11%) (10,119) (10,119) NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 805, ,446 (1) Following the sale transaction described in Note 1, the Fund sold Manulife Financial Corporation shares to enter into a total return swap. Under International Financial Reporting Standards, derecognition of all of Manulife Financial Corporation shares is prohibited as the Fund retains all the risks and rewards of shares ownership. As a result, the shares are presented in the schedule of portfolio investments and a payable secured by securities has been recorded in the statement of financial position. The details of the total return swap are as follows: Counterparty Bank of Montreal A+ Credit rating for counterparty Swap description Fixed rate Notional units Maturity Manulife Financial Corporation, Common Shares Notional amount Unrealized gain/(loss) 3-month CDOR (2) + 35 bps 588, /03/10 12,863 (657) (2) CDOR - Canadian Deposit Offered Rate % of net assets attributable to contractholders as at December 31, 2014 Canadian bonds Federal and federally guaranteed 5.56 Corporate 8.52 Other 8.05 U.S. Bonds 0.65 Foreign bonds 0.19 Equities Energy 7.82 Industrials 5.12 Consumer discretionary 4.89 Financials Trust units 6.72 Other Investments in underlying funds Short-term investments Other assets, less liabilities

82 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 191, ,347 Cash 1, Subscriptions receivable Receivable from investments sold Interest, dividends and other receivables , ,735 LIABILITIES Current liabilities Redemptions payable Payable on investments purchased Accrued expenses 1 - Other liabilities - 2 Payable secured by securities 1,886-1, NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 190, ,190 Net assets attributable to contractholders per unit Manulife Diversified Tri-Plan Fund (Manulife Asset Management) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 1,420 1,729 Dividends 2,356 2,870 Distribution income from underlying funds Foreign exchange gain (loss) Other income (loss) - 3 investments and derivatives 8,435 13,518 13,017 19,001 EXPENSES Custodian fees Interest 2 - Other operating expenses Foreign withholding taxes Transaction s ATTRIBUTABLE TO CONTRACTHOLDERS 12,774 18,713 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 205, ,194 ATTRIBUTABLE TO CONTRACTHOLDERS 12,774 18,713 CAPITAL UNIT TRANSACTIONS Units sold 13,552 20,757 Units redeemed (40,689) (48,474) Net capital unit transactions (27,137) (27,717) end of year 190, ,190 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 12,774 18,713 Adjustments for: Foreign exchange gain (loss) (106) (37) investments and derivatives (8,435) (13,518) Non cash interest on fixed income investments Purchase of investments (318,035) (277,006) Proceeds from sale and maturity of investments 339, ,279 (Increase) decrease in interest, dividends and other receivables (8) 88 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities 1,885 (1) Net cash from operating activities 27,547 27,541 Cash flows used in financing activities Proceeds from sale of units 13,549 20,768 Payments for units redeemed (40,811) (48,665) Net cash used in financing activities (27,262) (27,897) Foreign exchange gain (loss) Net increase (decrease) in cash 391 (319) Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year 1, Supplemental disclosures on cash flows from operating activities Interest received 1,534 1,883 Dividend received, net of withholding taxes 2,264 2,745 82

83 Par value CANADIAN BONDS FEDERAL AND FEDERALLY GUARANTEED 10.67% Canada Housing Trust No. 1, 1.250%, 2020/12/15 315, Government of Canada, 1.500%, 2017/03/01 333, Government of Canada, 4.250%, 2018/06/01 175, Government of Canada, 3.250%, 2021/06/01 4,060,000 4,305 4,572 Government of Canada, 1.500%, 2023/06/01 8,053,000 8,180 8,241 Government of Canada, 2.250%, 2025/06/01 5,360,000 5,724 5,763 Government of Canada, 3.500%, 2045/12/01 271, Government of Canada, 2.750%, 2048/12/01 400, Labrador Island Link Funding Trust, 3.760%, 2033/06/01 125, PROVINCIAL AND PROVINCIALLY GUARANTEED 3.57% Financement-Québec, 5.250%, 2034/06/01 370, OPB Finance Trust, 1.880%, 2022/02/24 115, Province of British Columbia, 6.350%, 2031/06/18 115, Province of British Columbia, 4.700%, 2037/06/18 130, Province of British Columbia, 2.800%, 2048/06/18 105, Province of Manitoba, 4.050%, 2045/09/05 430, Province of Nova Scotia, 5.800%, 2033/06/01 55, Province of Ontario, 3.150%, 2022/06/02 125, Province of Ontario, 2.850%, 2023/06/02 295, Province of Ontario, 3.500%, 2024/06/02 1,410,000 1,542 1,553 Province of Ontario, 2.600%, 2025/06/02 510, Province of Ontario, 4.600%, 2039/06/02 720, Province of Ontario, 3.450%, 2045/06/02 440, Province of Ontario, 2.900%, 2046/12/02 300, Province of Quebec, 6.000%, 2029/10/01 255, Province of Quebec, 5.000%, 2038/12/01 410, Province of Quebec, 3.500%, 2045/12/01 210, MUNICIPALS AND SCHOOLS 1.98% Municipal Finance Authority of British Columbia, 4.950%, 2027/12/01 130, Ontario School Boards Financing Corporation, 6.550%, 2026/10/19 809, ,005 Regional Municipality of Peel, 5.100%, 2040/06/29 200, The Regional Municipality of York, 4.000%, 2021/06/30 595, Toronto, City of, 5.050%, 2017/07/18 250, Manulife Diversified Tri-Plan Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value Toronto, City of, 4.950%, 2018/06/27 125, Ville de Montréal, 5.000%, 2018/12/01 550, Ville de Montréal, 4.250%, 2032/12/01 330, Ville de Montréal, 4.100%, 2034/12/01 95, Winnipeg, City of, 5.200%, 2036/07/17 190, CORPORATE 7.31% 407 International Inc., 5.750%, 2036/02/14 40, Alliance Pipeline Limited Partnership, 7.217%, 2025/12/31 223, AltaGas Ltd., 4.500%, 2044/08/15 90, Bank of Montreal, 3.103%, 2016/03/10 305, Bank of Montreal, 3.120%, 2024/09/19 115, Bank of Nova Scotia, (The), 2.598%, 2017/02/27 215, Bank of Nova Scotia, (The), 2.370%, 2018/01/11 150, Bank of Nova Scotia, (The), 2.580%, 2027/03/30 240, Bell Canada, 5.000%, 2017/02/15 300, Bell Canada, 4.880%, 2018/04/26 485, Bell Canada, 3.350%, 2023/03/22 135, Bell Canada, 7.850%, 2031/04/02 115, Bell Canada, 4.750%, 2044/09/29 115, Brookfield Infrastructure Finance ULC, 3.538%, 2020/10/30 80, Caisse centrale Desjardins, 2.795%, 2018/11/19 125, Caisse centrale Desjardins, 1.748%, 2020/03/02 575, Cameco Corporation, 3.750%, 2022/11/14 145, Canadian Hydro Developers, Inc., 7.027%, 2018/06/11 800, Canadian Imperial Bank of Commerce, 0.968%, 2016/04/08 222, Canadian Imperial Bank of Commerce, 2.350%, 2017/10/18 470, Canadian Imperial Bank of Commerce, 3.000%, 2024/10/28 200, Capital Desjardins Inc., 5.187%, 2020/05/05 150, Choice Properties Limited Partnership, 3.000%, 2017/04/20 90, Choice Properties Limited Partnership, 3.600%, 2020/04/20 265, Choice Properties Real Estate Investment Trust, 4.903%, 2023/07/05 60, Choice Properties Real Estate Investment Trust, 4.293%, 2024/02/08 85, Enbridge Inc., 4.240%, 2042/08/27 210, Enbridge Southern Lights LP, 4.014%, 2040/06/30 90, Ford Credit Canada Limited, 2.634%, 2016/11/21 465,

84 POOLED AND INDEXED FUNDS Par value Ford Credit Canada Limited, 3.700%, 2018/08/02 370, General Motors Financial Company of Canada, Ltd., 3.080%, 2020/05/22 255, Health Montréal Collective Limited Partnership, 6.721%, 2049/09/30 200, HSBC Bank Canada, 3.558%, 2017/10/04 150, HSBC Bank Canada, 2.908%, 2021/09/29 155, IGM Financial Inc., 7.350%, 2019/04/08 150, Inter Pipeline Ltd., 4.637%, 2044/05/30 90, Laurentian Bank of Canada, 3.278%, 2018/10/15 125, Laurentian Bank of Canada, 2.810%, 2019/06/13 290, Laurentian Bank of Canada, 2.500%, 2020/01/23 270, Loblaw Companies Limited, 4.860%, 2023/09/12 125, Loblaw Companies Limited, 5.900%, 2036/01/18 60, Magna International Inc., 3.100%, 2022/12/15 20, National Bank of Canada, 2.050%, 2016/01/11 303, National Bank of Canada, 2.702%, 2016/12/15 210, National Bank of Canada, 1.742%, 2020/03/03 65, North Battleford Power L.P., 4.958%, 2032/12/31 221, NorthwestConnect General Partnership, 5.950%, 2041/04/30 207, Pembina Pipeline Corporation, 4.810%, 2044/03/25 100, RioCan Real Estate Investment Trust, 3.850%, 2019/06/28 155, RioCan Real Estate Investment Trust, 3.287%, 2024/02/12 35, Rogers Communications Inc., 6.560%, 2041/03/22 200, Royal Bank of Canada, 3.360%, 2016/01/11 223, Royal Bank of Canada, 3.040%, 2024/07/17 625, Royal Bank of Canada, 3.450%, 2026/09/29 90, Shaw Communications Inc., 5.500%, 2020/12/07 115, Sobeys Inc., 4.700%, 2023/08/08 155, Sun Life Financial Inc., 4.570%, 2021/08/23 65, Sun Life Financial Inc., 2.600%, 2025/09/25 50, TELUS Corporation, 4.950%, 2017/03/15 215, TELUS Corporation, 5.150%, 2043/11/26 135, TELUS Corporation, 4.750%, 2045/01/17 35, The Manufacturers Life Insurance Company, 2.819%, 2023/02/26 180, Manulife Diversified Tri-Plan Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value or shares The Manufacturers Life Insurance Company, 2.811%, 2024/02/21 180, The Manufacturers Life Insurance Company, 3.181%, 2027/11/22 225, Thomson Reuters Corporation, 3.309%, 2021/11/12 240, Toronto-Dominion Bank, (The), 2.171%, 2018/04/02 130, Toronto-Dominion Bank, (The), 2.982%, 2025/09/30 30, Toronto-Dominion Bank, (The), 4.779%, 2105/12/14 345, Wells Fargo Financial Canada Corporation, 2.774%, 2017/02/09 95, ASSET-BACKED SECURITIES 0.07% Glacier Credit Card Trust, 2.394%, 2017/10/20 140, TOTAL CANADIAN BONDS 23.60% 43,520 45,072 U.S. BONDS CORPORATE 0.56% Citigroup Inc., 3.390%, 2021/11/18 175, Goldman Sachs Group, Inc., (The), 3.375%, 2018/02/01 200, JPMorgan Chase & Co., 2.920%, 2017/09/19 440, JPMorgan Chase & Co., 3.190%, 2021/03/05 215, TOTAL U.S. BONDS 0.56% 1,034 1,064 FOREIGN BONDS SUPRANATIONALS 0.22% Inter-American Development Bank, 4.400%, 2026/01/26 365, TOTAL FOREIGN BONDS 0.22% EQUITIES ENERGY 4.60% Apache Corporation 4, ARC Resources Ltd. 13, Baytex Energy Corp. 44, Canadian Energy Services & Technology Corp. 85, Canadian Natural Resources Limited 41,724 1,228 1,261 Cenovus Energy Inc. 36, Chevron Corporation 1, Enbridge Inc. 35,482 1,392 1,632 Exxon Mobil Corporation 2, MEG Energy Corp. 14, Occidental Petroleum Corporation 4, PEYTO Exploration & Development Corp. 9, Schlumberger Limited 6, Secure Energy Services Inc. 36, ShawCor Ltd. 4, Suncor Energy Inc. 34,646 1,052 1,238 Tourmaline Oil Corp. 12, Vermilion Energy Inc. 12,

85 Shares MATERIALS 1.51% Agnico-Eagle Mines Limited 14, Agrium Inc. 5, First Quantum Minerals Ltd. 17, Goldcorp Inc. 28, Hudbay Minerals Inc. 12, Lundin Mining Corporation 92, Tahoe Resources Inc. 13, West Fraser Timber Co. Ltd. 9, INDUSTRIALS 3.88% Boyd Group Income Fund 4, Canadian National Railway Company 35,004 1,088 2,708 Canadian Pacific Railway Limited 2, Caterpillar Inc. 2, Danaher Corporation 2, General Electric Company 11, Stantec Inc. 26, United Parcel Service, Inc., B 2, United Rentals, Inc. 2, United Technologies Corporation 3, WSP Global Inc. 18, CONSUMER DISCRETIONARY 5.83% Adidas AG 4, Amazon.com, Inc. 1, ,547 CarMax, Inc. 7, Cineplex Inc. 16, Dollarama Inc. 9, Gildan Activewear Inc. 29, ,173 IMAX Corporation 11, Lennar Corporation 13, Lowe's Companies Inc. 7, Magna International Inc. 11, NVR, Inc Ralph Lauren Corporation 5, Restaurant Brands International Inc. 10, Tempur Sealy International, Inc. 6, Thomson Reuters Corporation 7, CONSUMER STAPLES 2.64% Alimentation Couche-Tard Inc., Subordinated Voting, B 30, ,881 Diageo PLC, Sponsored (ADR) 1, George Weston Limited 3, Groupe Danone, Sponsored (ADR) 24, Loblaw Companies Limited 12, Mead Johnson Nutrition Company 2, PepsiCo Inc. 3, Procter & Gamble Company, (The) 4, HEALTH CARE 2.49% Amgen Inc. 2, Concordia Healthcare Corp. 9, Manulife Diversified Tri-Plan Fund (Manulife Asset Management) (expressed in thousands of dollars) Shares Medtronic Public Limited Company 5, Merck & Co., Inc. 6, Novadaq Technologies Inc. 30, Novartis AG, Sponsored (ADR) 3, Valeant Pharmaceuticals International, Inc. 11,707 1,356 1,646 FINANCIALS 12.22% American Express Company 3, American International Group Inc. 8, American Tower Corporation 3, Bank of America Corporation 47, ,102 Bank of Montreal 4, Bank of Nova Scotia, (The) 39,395 1,969 2,205 BlackRock, Inc Brookfield Asset Management Inc., Limited Voting, A 30,358 1,026 1,325 Brookfield Property Partners L.P. 16, Canadian Imperial Bank of Commerce 7, Canadian Western Bank 12, Citigroup Inc. 14, ,004 Element Financial Corporation 69, ,166 Goldman Sachs Group, Inc., (The) 3, Industrial Alliance Insurance and Financial Services Inc. 26,157 1,061 1,154 J.P. Morgan Chase & Co. 12, ,156 Manulife Financial Corporation (1) 86,323 1,582 1,790 Morgan Stanley 5, Prudential Financial Inc. 2, Royal Bank of Canada 45,595 2,193 3,381 T. Rowe Price Group Inc. 2, Toronto-Dominion Bank, (The) 62,787 2,127 3,406 Wells Fargo & Company 4, INFORMATION TECHNOLOGY 4.53% Alibaba Group Holding Limited, Sponsored (ADR) 3, Alphabet Inc., A Alphabet Inc., C Apple Inc. 8, ,246 CGI Group Inc., Subordinated Voting, A 25, ,406 Cisco Systems Inc. 15, Facebook, Inc., A 8, ,167 IHS Inc. 2, LinkedIn Corporation, A 1, Open Text Corporation 9, Oracle Corporation 4, Qualcomm Incorporated 6, TELECOMMUNICATIONS 1.05% Rogers Communications Inc., B 20, TELUS Corporation 27, ,037 UTILITIES 0.49% Brookfield Infrastructure Partners L.P. 17,

86 POOLED AND INDEXED FUNDS Manulife Diversified Tri-Plan Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value, shares or units TRUST UNITS 11.70% ishares, S&P/TSX 60 Index Fund 686,416 13,292 13,193 ishares, MSCI EAFE ETF 30,141 2,339 2,450 SPDR S&P 500 ETF 23,718 5,513 6,692 TOTAL EQUITIES 50.94% 83,508 97,177 INVESTMENTS IN UNDERLYING FUNDS Manulife International Stock Fund UT 1,513,492 22,800 28,114 TOTAL INVESTMENTS IN UNDERLYING FUNDS 14.73% 22,800 28,114 SHORT-TERM INVESTMENTS Banner Trust, 0.650%, 2016/01/04 490, Federal Home Loan Bank, Discount Notes, 0.294%, 2016/04/26 2,150,000 2,982 2,972 Par value Government of Canada, 0.405%, 2016/01/28 4,600,000 4,599 4,599 Government of Canada, 0.431%, 2016/02/11 5,000,000 4,998 4,998 Government of Canada, 0.435%, 2016/02/25 900, Government of Canada, 0.499%, 2016/04/21 5,300,000 5,292 5,292 TOTAL SHORT-TERM INVESTMENTS 10.09% 19,260 19,250 Transaction s (85) - TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 170, ,103 Other assets, less liabilities (0.14%) (276) (276) NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 170, ,827 (1) Following the sale transaction described in Note 1, the Fund sold Manulife Financial Corporation shares to enter into a total return swap. Under International Financial Reporting Standards, derecognition of all of Manulife Financial Corporation shares is prohibited as the Fund retains all the risks and rewards of shares ownership. As a result, the shares are presented in the schedule of portfolio investments and a payable secured by securities has been recorded in the statement of financial position. The details of the total return swap are as follows: Counterparty Bank of Montreal A+ Credit rating for counterparty Swap description Fixed rate Notional units Maturity Manulife Financial Corporation, Common Shares Notional amount Unrealized gain/(loss) 3-month CDOR (2) + 35 bps 86, /03/10 1,885 (96) (2) CDOR - Canadian Deposit Offered Rate % of net assets attributable to contractholders as at December 31, 2014 Canadian bonds Federal and federally guaranteed 4.89 Corporate 7.59 Other 7.13 U.S. Bonds 0.54 Foreign bonds 0.25 Equities Energy 6.84 Consumer discretionary 4.32 Financials Trust units 8.16 Other Investments in underlying funds Short-term investments Other assets, less liabilities

87 Manulife Money Market Fund (Manulife Asset Management) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 483, ,107 Cash Subscriptions receivable 1,366 1,344 Interest, dividends and other receivables , ,782 LIABILITIES Current liabilities Redemptions payable Accrued expenses 1 1 Other liabilities NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 485, ,123 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 4,095 5,758 4,095 5,758 EXPENSES Custodian fees Interest 1 1 Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 3,927 5,567 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 433, ,913 ATTRIBUTABLE TO CONTRACTHOLDERS 3,927 5,567 CAPITAL UNIT TRANSACTIONS Units sold 425, ,733 Units redeemed (377,735) (300,090) Net capital unit transactions 48,206 (8,357) end of year 485, ,123 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 3,927 5,567 Adjustments for: Non cash interest on fixed income investments (631) (2,755) Purchase of investments (2,257,027) (2,298,280) Proceeds from sale and maturity of investments 2,205,228 2,303,826 (Increase) decrease in interest, dividends and other receivables (104) (322) Increase (decrease) in accrued expenses, other liabilities and payable secured by securities (3) (1) Net cash from operating activities (48,610) 8,035 Cash flows used in financing activities Proceeds from sale of units 425, ,768 Payments for units redeemed (377,901) (300,366) Net cash used in financing activities 48,018 (7,598) Net increase (decrease) in cash (592) 437 Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received 3,360 2,681 87

88 POOLED AND INDEXED FUNDS Manulife Money Market Fund (Manulife Asset Management) (expressed in thousands of dollars, except par values) Par value SHORT-TERM INVESTMENTS FEDERAL AND FEDERALLY GUARANTEED 30.84% Government of Canada, 0.435%, 2016/02/25 7,700,000 7,695 7,695 Government of Canada, 0.430%, 2016/03/10 6,050,000 6,045 6,045 Government of Canada, 0.500%, 2016/04/07 9,800,000 9,787 9,788 Government of Canada, 0.496%, 2016/04/21 21,200,000 21,168 21,169 Government of Canada, 0.517%, 2016/05/05 38,500,000 38,432 38,436 Government of Canada, 0.526%, 2016/05/19 20,000,000 19,960 19,964 Government of Canada, 0.470%, 2016/07/28 12,750,000 12,716 12,714 Government of Canada, 0.540%, 2016/11/17 34,000,000 33,839 33,866 PROVINCIAL AND PROVINCIALLY GUARANTEED 2.29% Province of Ontario, 0.529%, 2016/01/06 5,300,000 5,300 5,299 Province of Quebec, 0.540%, 2016/03/11 5,800,000 5,794 5,793 BANKER'S ACCEPTANCE 2.19% Bank of Montreal, 0.708%, 2016/01/14 5,160,000 5,159 5,159 National Bank of Canada, 0.759%, 2016/05/25 5,500,000 5,483 5,485 BEARER DEPOSIT NOTES 5.07% Toronto-Dominion Bank, (The), 0.990%, 2016/09/08 7,250,000 7,201 7,210 Toronto-Dominion Bank, (The), 0.950%, 2016/11/09 11,860,000 11,764 11,782 Toronto-Dominion Bank, (The), 0.990%, 2016/12/13 5,630,000 5,578 5,589 CORPORATE 57.27% Bank of Montreal, 3.103%, 2016/03/10 10,760,000 10,804 10,802 Bank of Montreal, 3.490%, 2016/06/10 7,800,000 7,883 7,884 Bank of Montreal, floating rate, 1.068%, 2017/04/10 7,200,000 7,200 7,187 Bank of Nova Scotia, (The), 3.610%, 2016/02/22 12,700,000 12,746 12,743 Bank of Nova Scotia, (The), floating rate, 0.953%, 2016/03/11 14,100,000 14,100 14,101 Bank of Nova Scotia, (The), 1.800%, 2016/05/09 10,000,000 10,032 10,030 Bank of Nova Scotia, (The), 2.100%, 2016/11/08 7,172,000 7,233 7,233 Banner Trust, 0.650%, 2016/01/04 450, Canadian Imperial Bank of Commerce, floating rate, 0.968%, 2016/04/08 14,210,000 14,213 14,211 Canadian Imperial Bank of Commerce, 1.750%, 2016/06/01 5,625,000 5,640 5,643 Par value Canadian Imperial Bank of Commerce, floating rate, 1.038%, 2016/07/14 6,490,000 6,494 6,492 Honda Canada Finance Inc., 0.688%, 2016/01/06 6,900,000 6,899 6,898 Honda Canada Finance Inc., 0.740%, 2016/01/21 2,800,000 2,799 2,799 Honda Canada Finance Inc., 0.779%, 2016/02/25 6,430,000 6,422 6,422 Honda Canada Finance Inc., 0.859%, 2016/06/15 3,300,000 3,287 3,288 HSBC Bank Canada, floating rate, 1.320%, 2016/01/21 7,050,000 7,051 7,051 Imperial Oil Limited, 0.758%, 2016/01/19 2,300,000 2,299 2,299 Merit Trust, 0.731%, 2016/01/11 5,700,000 5,699 5,698 Merit Trust, 0.837%, 2016/02/17 2,000,000 1,998 1,998 National Bank of Canada, 2.050%, 2016/01/11 7,020,000 7,022 7,021 National Bank of Canada, floating rate, 1.002%, 2016/06/22 7,090,000 7,090 7,087 National Bank of Canada, floating rate, 1.113%, 2016/06/23 11,390,000 11,396 11,392 OMERS Finance Trust, 0.751%, 2016/01/06 2,300,000 2,300 2,300 OMERS Finance Trust, 0.756%, 2016/01/08 6,300,000 6,299 6,299 OMERS Finance Trust, 0.731%, 2016/01/20 7,000,000 6,997 6,998 OMERS Finance Trust, 0.737%, 2016/01/22 5,000,000 4,998 4,998 OMERS Finance Trust, 0.731%, 2016/01/25 10,150,000 10,145 10,146 Plaza Trust, 0.778%, 2016/02/25 4,800,000 4,794 4,794 Plaza Trust, 0.838%, 2016/03/21 3,500,000 3,494 3,494 Prime Trust, 0.879%, 2016/04/05 5,870,000 5,857 5,857 Royal Bank of Canada, 3.360%, 2016/01/11 7,080,000 7,085 7,081 Royal Bank of Canada, 3.030%, 2016/07/26 10,680,000 10,800 10,801 Royal Bank of Canada, floating rate, 1.069%, 2016/12/02 15,000,000 15,000 15,004 Storm King Funding, 0.799%, 2016/03/01 4,000,000 3,995 3,994 Storm King Funding, 0.821%, 2016/03/04 4,300,000 4,294 4,293 Storm King Funding, 0.851%, 2016/03/24 2,460,000 2,455 2,456 Toronto-Dominion Bank, (The), floating rate, 1.000%, 2016/04/21 5,000,000 5,000 5,002 Toyota Credit Canada Inc., 0.860%, 2016/06/20 15,170,000 15,109 15,113 Toyota Credit Canada Inc., 0.860%, 2016/07/05 7,000,000 6,969 6,971 Zeux Receivables Trust, 0.800%, 2016/02/24 3,600,000 3,596 3,596 ASSET BACKED SECURITIES 1.98% CARDS II Trust, 1.984%, 2016/01/15 2,450,000 2,451 2,450 Golden Credit Card Trust, 3.510%, 2016/05/15 7,100,000 7,163 7,167 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.64% 483, ,537 Other assets, less liabilities 0.36% 1,719 1,719 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 485, ,256 88

89 Manulife Money Market Fund (Manulife Asset Management) % of net assets attributable to contractholders as at December 31, 2014 Short-term investments Federal and federally guaranteed 6.59 Bearer deposit notes - Corporate Other 6.97 Other assets, less liabilities

90 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Real estate investments (note 4) 1,686,030 1,479,730 Short-term investments 136, ,135 Cash 3,942 1,560 Subscriptions receivable 495 2,853 Interest and other receivables 14,375 14,602 Prepaid expenses 6,012 4,640 1,847,132 1,623,520 LIABILITIES Current liabilities Redemptions payable 1,415 1,099 Accrued expenses 5 8 Taxes payable on real estate 14,026 12,823 Other liabilities 14,541 9,869 Financing on real estate 1,940 2,262 Deferred tenant revenues 1,414 1,638 Tenant deposits 1, ,542 28,667 Non-current liabilities Financing on real estate 59,871 71,115 Deferred tenant revenues Tenant deposits 6,009 6,259 66,025 77, , ,351 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 1,746,565 1,517,169 Net assets attributable to contractholders per unit Manulife Canadian Pooled Real Estate Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 996 1,242 Real estate net income (note 4(a)) 81,106 74,341 Other income (loss) 5 - investments 22,388 25,925 Change in unrealized gain (loss) on financing on real estate (160) (1,899) 104,335 99,609 EXPENSES Appraisal fees Custodian fees Interest 1 - Other operating expenses 1,696 1,394 2,686 2,347 ATTRIBUTABLE TO CONTRACTHOLDERS 101,649 97,262 Increase (decrease) in net assets attributable to contractholders per unit

91 Manulife Canadian Pooled Real Estate Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 1,517,169 1,354,088 ATTRIBUTABLE TO CONTRACTHOLDERS 101,649 97,262 CAPITAL UNIT TRANSACTIONS Units sold 351, ,030 Units redeemed (224,129) (167,211) Net capital unit transactions 127,747 65,819 end of year 1,746,565 1,517,169 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 101,649 97,262 Adjustments for: investments (22,388) (25,925) Non cash interest on fixed income investments and deferred rent (2,930) (4,786) Purchase of investments (1,992,725) (2,018,289) Proceeds from sale and maturity of investments 1,792,648 1,847,787 (Increase) decrease in interest, other receivables and prepaid expenses (1,145) (2,607) Increase (decrease) in accrued expenses, other liabilities and payable secured by securities 4,669 2,417 Increase (decrease) of financing on real estate (11,726) 33,642 Increase (decrease) in taxes payable on real estate, deferred tenant revenues and tenant deposits 797 2,724 Amortization of tenant incentives and leasing s 2,952 1,318 Net cash from operating activities (128,199) (66,457) Cash flows used in financing activities Proceeds from sale of units 354, ,813 Payments for units redeemed (223,813) (166,365) Change in unrealized gain (loss) on financing on real estate 160 1,899 Net cash used in financing activities 130,581 66,347 Net increase (decrease) in cash 2,382 (110) Cash (bank indebtedness) at beginning of year 1,560 1,670 Cash (bank indebtedness) at end of year 3,942 1,560 Supplemental disclosures on cash flows from operating activities Interest received Interest paid (3,158) (2,267) 91

92 POOLED AND INDEXED FUNDS Manulife Canadian Pooled Real Estate Fund (expressed in thousands of dollars) Real estate investments Location Year of purchase Date of last appraisal MULTI-INDUSTRIAL 24.43% HAL003P Bedford 2014 Dec ,601 69, ,860 7,000 TOR104P Brampton 2007 Oct ,873 52, ,501 4,050 TOR105P Brampton 2007 Oct ,608 52, ,636 4,350 VAN030 Burnaby 2006 Oct ,911 61, ,236 8,000 CAL029 Calgary 1995 Nov ,337 57, ,737 10,100 CAL Calgary 1993 Oct ,774 28, ,914 5,000 CAL055 Calgary 1996 Nov ,345 57, ,572 9,300 CAL059 Calgary 2000 Nov ,779 54, ,533 11,800 CAL070P Calgary 2013 Nov ,130 30, ,296 4,100 VAN032 Coquitlam 2007 Oct , , ,481 13,600 HAL002P Dartmouth 2014 Dec , , (4,883) 10,773 11,200 EDM012 - EDM014 Edmonton 1983 Dec ,019 75, ,329 13,900 EDM038 Edmonton 2004 Oct ,757 93, ,089 16,600 EDM046 Edmonton 2005 Oct ,969 42, ,162 5,200 EDM049P Edmonton 2010 Nov ,107 60, ,192 13,100 EDM051P Edmonton 2011 Oct , , ,000 24,500 EDM052P Edmonton 2011 Oct ,813 55, ,114 9,100 EDM055P Edmonton 2013 Oct ,431 48, ,629 4,800 EDM056P Edmonton 2013 Oct ,800 57, ,647 5,640 EDM057P Edmonton 2013 Nov ,289 20, ,154 4,100 HAL004P Halifax 2014 Dec ,508 63, ,647 7,600 TOR034 Markham 1984 Dec ,982 48, ,747 4,930 TOR098 Markham 2006 Oct ,476 74, ,841 8,920 TOR109P Markham 2007 Dec ,269 92, ,305 10,720 TOR046 Mississauga 1994 Nov ,176 40, ,717 4,410 TOR047 Mississauga 1994 Nov ,803 28, ,770 TOR048 Mississauga 1994 Nov ,053 37, ,038 3,340 TOR049 Mississauga 1994 Nov ,312 25, ,170 TOR092 Mississauga 2003 Dec ,867 81, ,963 10,430 TOR110P Mississauga 2007 Nov ,031 83, ,614 7,310 TOR111P Mississauga 2007 Oct ,676 44, ,492 4,200 TOR120P Mississauga 2011 Nov ,876 42, ,412 4,000 TOR121P Mississauga 2011 Nov ,196 33, ,383 5,470 TOR122P Mississauga 2011 Nov ,386 79, ,649 11,950 TOR123P Mississauga 2011 Nov ,000 10, ,075 1,550 MTL096 Montreal 2005 Nov ,499 77, ,530 5,280 TOR095 Oakville 2006 Dec ,893 18, ,510 2,870 OTT045P Ottawa 2008 Nov ,362 11, ,148 1,300 OTT046P - OTT047P Ottawa 2008 Oct ,308 87, ,498 11,700 OTT049P Ottawa 2012 Oct , , ,625 15,800 OTT050P Ottawa 2012 Dec ,990 84, ,836 10,600 OTT051P Ottawa 2012 Dec , , ,229 13,600 OTT052P Ottawa 2012 Oct , , ,492 14,300 OTT053P Ottawa 2012 Oct , , ,885 15,800 OTT054P Ottawa 2012 Oct , , ,866 18,300 TOR112P Scarborough 2007 Nov , , ,957 10,810 TOR106P-TOR108P Vaughan 2007 Dec , , ,656 12,160 TOR116P Vaughan 2011 Dec , , ,752 18,960 Total space (square feet) Space leased (square feet) % Leased Financing on real estate Cost (4,883) 333, ,690 92

93 Manulife Canadian Pooled Real Estate Fund (expressed in thousands of dollars) Real estate investments Location Year of purchase Date of last appraisal Total space (square feet) Space leased (square feet) % Leased Financing on real estate Cost OFFICE 31.34% MTL104P Boisbriand 2010 Dec ,876 52, ,938 10,200 CAL061 Calgary 2005 Oct ,058 22, ,409 5,400 CAL063P Calgary 2010 Dec ,207 99, ,987 50,400 CAL064P Calgary 2010 Dec ,969 59, ,498 29,200 CAL065P Calgary 2011 Dec , , ,587 31,300 CAL066P Calgary 2011 Oct ,364 30, ,141 9,000 CAL068P Calgary 2012 Nov , , (20,838) 66,048 74,300 CAL069P Calgary 2012 Nov , , ,604 89,300 EDM034 Edmonton 2003 Oct ,918 66, ,594 15,600 EDM Edmonton 2004 Oct ,034 76, ,161 16,900 EDM Edmonton 2004 Oct ,331 65, ,144 14,600 EDM050P Edmonton 2010 Oct ,583 47, ,692 18,350 OTT048P Kanata 2012 Nov , , ,421 21,700 TOR125P Markham 2011 Nov , , ,422 25,700 TOR127P Mississauga 2014 Nov ,482 62, ,443 15,800 TOR128P Mississauga 2014 Nov ,851 37, ,870 8,700 TOR129P Mississauga 2014 Nov ,719 16, ,056 4,200 TOR130P Mississauga 2014 Oct ,171 96, ,481 34,400 TOR131P Mississauga 2014 Nov ,721 35, ,402 7,800 MTL107P Montreal 2015 Dec ,123 85, ,222 19,800 MTL108P Montreal 2015 Dec ,400 36, ,978 8,900 MTL109P Montreal 2015 Dec ,603 31, ,291 6,700 OTT044 Ottawa 2007 Dec ,827 15, ,906 5,800 ATL001P Saint John 2008 Oct ,107 28, ,297 4,330 VAN040P Victoria 2015 Dec ,963 71, ,093 19,000 (20,838) 485, ,380 RETAIL 27.75% MTL106P Boucherville 2011 Dec , , ,578 39,400 MTL100 Brossard 2006 Dec ,902 25, ,531 6,600 HAL001P Dartmouth 2014 Dec , , ,351 23,100 TOR100P London 2007 Dec ,845 23, ,856 6,200 VAN033P Merritt 2011 Dec ,368 60, ,579 9,600 MTL088 Montreal 2004 Dec ,760 25, ,469 4,600 VAN027 North Vancouver 2003 Dec ,356 50, ,255 13,700 VAN038P Penticton 2014 Dec , , (36,090) 75,900 79,800 TOR101P Peterborough 2007 Dec ,009 40, ,627 8,200 VAN037P Salmon Arm 2012 Dec , , ,115 32,900 TOR114P Sarnia, Ontario 2008 Oct ,723 63, ,317 9,600 VAN036P Squamish 2011 Nov ,188 75, ,379 34,700 MTL092 St-Leonard 2005 Nov ,713 5, ,998 2,500 VAN035P Surrey 2011 Oct , , ,994 53,100 MTL004 Varennes 1984 Dec ,281 81, ,452 10,600 VAN039P Victoria 2015 Dec , , , ,200 VAN034P Williams Lake 2011 Dec ,201 63, ,325 11,800 TOR115P Woodstock 2008 Dec ,837 17, ,989 8,100 (36,090) 440, ,700 93

94 POOLED AND INDEXED FUNDS Manulife Canadian Pooled Real Estate Fund (expressed in thousands of dollars) Real estate investments Location Year of purchase Date of last appraisal Total space (square feet) Space leased (square feet) % Leased Financing on real estate Cost SINGLE-INDUSTRIAL 13.01% TOR051 Brampton 1995 Nov ,837 11, ,110 TOR103P Brampton 2007 Oct ,936 68, ,134 4,560 TOR118P Brampton 2011 Nov , , ,128 16,130 TOR124P Brampton 2011 Dec , , ,008 23,140 TOR119P Burlington 2011 Dec ,924 62, ,191 5,880 VAN007 Coquitlam 1994 Oct ,598 97, ,431 12,900 EDM036 Edmonton 2003 Nov , , ,865 13,700 EDM047 Edmonton 2007 Nov , ,022 5,800 EDM048P Edmonton 2007 Oct ,360 43, ,899 6,800 EDM053P Edmonton 2013 Dec , , ,006 23,100 EDM054P Edmonton 2013 Dec ,462 45, ,742 6,700 MTL098 Laval 2005 Nov ,186 24, ,471 1,960 MTL102P Laval 2010 Dec , , ,335 11,700 MTL105P Laval 2010 Dec ,090 26, ,688 4,360 TOR113P London 2008 Nov , , ,532 17,410 TOR039 Mississauga 1994 Nov ,482 20, ,750 TOR040 Mississauga 1994 Nov ,809 16, ,670 TOR041 Mississauga 1994 Nov ,877 14, ,250 TOR043 Mississauga 1994 Oct ,572 24, ,210 TOR044 Mississauga 1994 Oct ,513 20, ,006 1,720 MTL087 Montreal 2004 Oct , , ,694 14,000 MTL095 Montreal 2005 Nov ,500 43, ,850 3,040 TOR117P Oakville 2011 Oct , , ,946 12,020 TOR126P Oakville 2012 Nov , , ,342 17,850 OTT043 Ottawa 2004 Nov ,875 37, ,441 4,600 MTL103P Terrebonne 2010 Nov , , ,000 11, , ,260 TOTAL REAL ESTATE INVESTMENTS 96.53% (61,811) 1,444,248 1,686,030 94

95 Manulife Canadian Pooled Real Estate Fund (expressed in thousands of dollars, except par values) Par value SHORT-TERM INVESTMENTS FEDERAL AND FEDERALLY GUARANTEED 4.92% Government of Canada, 0.424%, 2016/02/25 10,700,000 10,693 10,693 Government of Canada, 0.437%, 2016/03/24 5,500,000 5,495 5,494 Government of Canada, 0.434%, 2016/04/21 27,000,000 26,964 26,960 Government of Canada, 0.515%, 2016/05/19 39,500,000 39,423 39,430 Government of Canada, 0.464%, 2016/06/02 3,300,000 3,294 3,293 PROVINCIAL AND PROVINCIALLY GUARANTEED 2.45% Province of Ontario, 0.530%, 2016/01/27 25,000,000 24,991 24,991 Province of Quebec, 0.551%, 2016/01/22 10,000,000 9,997 9,997 Province of Quebec, 0.558%, 2016/02/26 7,800,000 7,793 7,793 CORPORATE 0.44% Banner Trust, 0.650%, 2016/01/04 630, Honda Canada Finance Inc., 0.773%, 2016/01/18 7,000,000 6,997 6,997 TOTAL SHORT-TERM INVESTMENTS 7.81% 136, ,278 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 1,580,525 1,822,308 Other assets, less liabilities (4.34%) (75,743) (75,743) NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 1,504,782 1,746,565 % of net assets attributable to contractholders as at December 31, 2014 Real estate investments Multi-industrial Office Retail Single-industrial Short-term investments 7.91 Other assets, less liabilities (5.44)

96 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 204, ,886 Cash Subscriptions receivable 243 1,386 Interest and other receivables , ,753 LIABILITIES Current liabilities Redemptions payable Accrued expenses 1 1 Mortgage property taxes payable - 24 Other liabilities NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 204, ,712 Net assets attributable to contractholders per unit Manulife Canadian Mortgage Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Interest 5,332 5,435 investments and derivatives 176 1,768 5,508 7,203 EXPENSES Custodian fees 3 1 Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 5,334 7,043 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 148, ,944 ATTRIBUTABLE TO CONTRACTHOLDERS 5,334 7,043 CAPITAL UNIT TRANSACTIONS Units sold 86,176 33,813 Units redeemed (35,521) (29,088) Net capital unit transactions 50,655 4,725 end of year 204, ,712 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 5,334 7,043 Adjustments for: investments and derivatives (176) (1,768) Non cash interest on fixed income investments (190) (95) Purchase of investments (722,830) (605,792) Proceeds from sale and maturity of investments 665, ,146 (Increase) decrease in interest and other receivables (103) (10) Increase (decrease) in accrued expenses, other liabilities and payable secured by securities (3) 1 Net cash from operating activities (51,995) (3,475) Cash flows used in financing activities Proceeds from sale of units 87,319 32,581 Payments for units redeemed (35,424) (29,100) Net cash used in financing activities 51,895 3,481 Net increase (decrease) in cash (100) 6 Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Supplemental disclosures on cash flows from operating activities Interest received 5,039 5,330 96

97 Manulife Canadian Mortgage Fund (expressed in thousands of dollars) Number of loans Interest rate % Property type Province Mortgage type Maturity date MORTGAGE INVESTMENTS 89.05% ,000 7,012 RETAIL ON CONVENTIONAL 2017/02/ ,983 6,995 OFFICE ON CONVENTIONAL 2018/11/ ,195 1,187 INDUSTRIAL MB CONVENTIONAL 2020/03/ ,200 5,197 OFFICE BC CONVENTIONAL 2016/06/ ,448 3,448 OFFICE QC CONVENTIONAL 2016/01/ ,190 2,192 OTHER BC CONVENTIONAL 2020/10/ ,381 1,380 RETAIL ON CONVENTIONAL 2017/03/ ,000 6,050 MULTI-FAMILY ON CONVENTIONAL 2020/12/ ,100 5,143 MULTI-FAMILY ON CONVENTIONAL 2020/12/ ,950 4,991 MULTI-FAMILY ON CONVENTIONAL 2020/12/ ,400 7,462 MULTI-FAMILY ON CONVENTIONAL 2020/12/ ,650 5,697 MULTI-FAMILY ON CONVENTIONAL 2020/12/ ,387 1,380 OFFICE ON CONVENTIONAL 2020/10/ ,186 1,187 INDUSTRIAL NS CONVENTIONAL 2020/07/ ,500 5,519 RETAIL ON CONVENTIONAL 2020/12/ ,594 2,605 INDUSTRIAL ON CONVENTIONAL 2020/10/ ,930 4,870 OFFICE BC CONVENTIONAL 2022/05/ ,394 1,395 INDUSTRIAL BC CONVENTIONAL 2020/10/ ,777 4,789 OFFICE AB CONVENTIONAL 2016/05/ ,349 1,355 INDUSTRIAL QC CONVENTIONAL 2020/12/ ,093 1,085 INDUSTRIAL QC CONVENTIONAL 2022/09/ ,466 1,485 INDUSTRIAL QC CONVENTIONAL 2020/02/ ,978 4,995 RETAIL QC CONVENTIONAL 2022/10/ ,073 1,091 INDUSTRIAL QC CONVENTIONAL 2018/05/ ,564 1,587 INDUSTRIAL AB CONVENTIONAL 2017/07/ ,604 2,646 INDUSTRIAL AB CONVENTIONAL 2018/03/ ,970 1,979 RETAIL ON CONVENTIONAL 2020/07/ ,000 1,002 INDUSTRIAL AB CONVENTIONAL 2020/12/ ,763 2,810 RETAIL ON CONVENTIONAL 2018/01/ ,634 4,723 MULTI-FAMILY BC CONVENTIONAL 2018/04/ ,018 INDUSTRIAL QC CONVENTIONAL 2017/06/ ,523 1,562 INDUSTRIAL QC CONVENTIONAL 2019/01/ INDUSTRIAL BC CONVENTIONAL 2018/01/ ,229 4,308 RETAIL BC CONVENTIONAL 2018/02/ ,628 2,679 INDUSTRIAL BC CONVENTIONAL 2018/03/ ,783 3,882 OFFICE BC CONVENTIONAL 2019/06/ ,196 1,234 INDUSTRIAL QC CONVENTIONAL 2019/02/ INDUSTRIAL QC CONVENTIONAL 2017/06/ ,153 1,169 INDUSTRIAL AB CONVENTIONAL 2019/11/ ,241 2,283 OTHER BC CONVENTIONAL 2017/06/ INDUSTRIAL BC CONVENTIONAL 2017/08/ ,841 1,861 OFFICE BC CONVENTIONAL 2020/03/ ,400 1,422 MULTI-FAMILY ON CONVENTIONAL 2022/12/ ,492 2,488 OFFICE AB CONVENTIONAL 2022/10/ ,350 1,376 INDUSTRIAL AB CONVENTIONAL 2017/05/ ,716 5,957 MULTI-FAMILY ON CONVENTIONAL 2019/02/ ,865 2,959 INDUSTRIAL ON CONVENTIONAL 2019/03/ ,589 1,651 INDUSTRIAL QC CONVENTIONAL 2018/12/15 97

98 POOLED AND INDEXED FUNDS Manulife Canadian Mortgage Fund (expressed in thousands of dollars, except par values) Interest rate Number of loans % Property type Province Mortgage type Maturity date RETAIL QC CONVENTIONAL 2018/10/ ,106 2,175 MULTI-FAMILY ON CONVENTIONAL 2025/02/ ,685 4,864 RETAIL ON CONVENTIONAL 2023/06/ ,232 2,316 INDUSTRIAL ON CONVENTIONAL 2018/11/ ,670 2,751 MULTI-FAMILY ON CONVENTIONAL 2025/02/ ,738 3,893 INDUSTRIAL AB CONVENTIONAL 2018/10/ INDUSTRIAL QC CONVENTIONAL 2016/02/ ,585 7,199 OFFICE ON CONVENTIONAL 2020/09/ ,212 6,511 RETAIL BC CONVENTIONAL 2017/10/ ,060 2,151 RETAIL ON CONVENTIONAL 2017/06/ ,502 8,374 RETAIL ON CONVENTIONAL 2020/06/01 178, ,285 Par value SHORT-TERM INVESTMENTS FEDERAL AND FEDERALLY GUARANTEED 6.15% Government of Canada, 0.442%, 2016/03/24 12,600,000 12,587 12,587 PROVINCIAL AND PROVINCIALLY GUARANTEED 3.66% Province of Quebec, 0.558%, 2016/02/26 7,500,000 7,494 7,493 CORPORATE 0.84% Banner Trust, 0.650%, 2016/01/04 1,720,000 1,720 1,720 TOTAL SHORT-TERM INVESTMENTS 10.65% 21,801 21,800 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.70% 200, ,085 Other assets, less liabilities 0.30% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 200, ,701 % of net assets attributable to contractholders as at December 31, 2014 Mortgage investments Short-term investments Other assets, less liabilities

99 Manulife Small Cap Portfolio Fund (Multi-Manager) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 4,919 6,169 Cash 3 - Subscriptions receivable - 1 4,922 6,170 LIABILITIES Current liabilities Redemptions payable - 4 Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 4,919 6,166 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives (57) 660 (57) 660 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS (58) 656 Increase (decrease) in net assets attributable to contractholders per unit (0.53) 4.95 STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 6,166 5,562 ATTRIBUTABLE TO CONTRACTHOLDERS (58) 656 CAPITAL UNIT TRANSACTIONS Units sold 883 2,398 Units redeemed (2,072) (2,450) Net capital unit transactions (1,189) (52) end of year 4,919 6,166 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders (58) 656 Adjustments for: investments and derivatives 57 (660) Purchase of investments (609) (1,971) Proceeds from sale and maturity of investments 1,805 2,044 Net cash from operating activities 1, Cash flows used in financing activities Proceeds from sale of units 884 2,397 Payments for units redeemed (2,076) (2,461) Net cash used in financing activities (1,192) (64) Net increase (decrease) in cash 3 5 Cash (bank indebtedness) at beginning of year - (5) Cash (bank indebtedness) at end of year 3 - Units Manulife Asset Management Canadian Small-Cap Equity Fund 34,025 1,825 2,449 Manulife BMO AM Canadian Small-Cap Equity Fund 122,930 1,811 2,470 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 3,636 4,919 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 3,636 4,919 99

100 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 11,600 24,702 Cash 4 - Subscriptions receivable 2 2 Receivable from investments sold ,606 24,711 LIABILITIES Current liabilities Bank indebtedness - 7 Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 11,602 24,704 Net assets attributable to contractholders per unit Manulife Income Index Portfolio Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives 418 2, ,572 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 415 2,568 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 24,704 26,646 ATTRIBUTABLE TO CONTRACTHOLDERS 415 2,568 CAPITAL UNIT TRANSACTIONS Units sold 8,002 8,464 Units redeemed (21,519) (12,974) Net capital unit transactions (13,517) (4,510) end of year 11,602 24,704 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 415 2,568 Adjustments for: investments and derivatives (418) (2,572) Purchase of investments (7,345) (8,197) Proceeds from sale and maturity of investments 20,876 12,655 Net cash from operating activities 13,528 4,454 Cash flows used in financing activities Proceeds from sale of units 8,002 8,464 Payments for units redeemed (21,519) (12,979) Net cash used in financing activities (13,517) (4,515) Net increase (decrease) in cash 11 (61) Cash (bank indebtedness) at beginning of year (7) 54 Cash (bank indebtedness) at end of year 4 (7) 100

101 Manulife Income Index Portfolio Fund (expressed in thousands of dollars) Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 121,251 2,706 2,865 Manulife US Equity Index Fund (Manulife Asset Management) 34, Manulife Canadian Bond Index Fund (Manulife Asset Management) 217,801 5,081 5,838 Manulife Money Market Fund (Manulife Asset Management) 8,646 1,119 1,166 Manulife International Equity Index Fund (BlackRock) 44, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.99% 10,040 11,600 Other assets, less liabilities 0.01% 2 2 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 10,042 11,

102 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 179, ,650 Cash 3 - Subscriptions receivable Receivable from investments sold , ,737 LIABILITIES Current liabilities Bank indebtedness - 57 Redemptions payable Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 179, ,665 Net assets attributable to contractholders per unit Manulife Balanced Index Portfolio Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives 8,122 19,089 8,122 19,089 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 8,105 19,085 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 199, ,287 ATTRIBUTABLE TO CONTRACTHOLDERS 8,105 19,085 CAPITAL UNIT TRANSACTIONS Units sold 32,151 29,739 Units redeemed (59,956) (25,446) Net capital unit transactions (27,805) 4,293 end of year 179, ,665 Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 2,263,092 50,707 53,474 Manulife US Equity Index Fund (Manulife Asset Management) 1,067,820 15,968 26,785 Manulife Canadian Bond Index Fund (Manulife Asset Management) 2,710,054 64,149 72,647 Manulife International Equity Index Fund (BlackRock) 1,384,348 19,813 27,052 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 150, ,958 Other assets, less liabilities 0.00% 7 7 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 150, ,965 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 8,105 19,085 Adjustments for: investments and derivatives (8,122) (19,089) Purchase of investments (41,374) (30,082) Proceeds from sale and maturity of investments 69,248 25,715 Net cash from operating activities 27,857 (4,371) Cash flows used in financing activities Proceeds from sale of units 32,146 29,726 Payments for units redeemed (59,943) (25,435) Net cash used in financing activities (27,797) 4,291 Net increase (decrease) in cash 60 (80) Cash (bank indebtedness) at beginning of year (57) 23 Cash (bank indebtedness) at end of year 3 (57) 102

103 Manulife Growth Index Portfolio Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 12,182 28,289 Cash 1 7 Subscriptions receivable 1-12,184 28,296 LIABILITIES Current liabilities Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 12,183 28,289 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives 407 2, ,819 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 404 2,815 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 28,289 24,383 ATTRIBUTABLE TO CONTRACTHOLDERS 404 2,815 CAPITAL UNIT TRANSACTIONS Units sold 4,971 4,655 Units redeemed (21,481) (3,564) Net capital unit transactions (16,510) 1,091 end of year 12,183 28,289 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 404 2,815 Adjustments for: investments and derivatives (407) (2,819) Purchase of investments (6,960) (5,180) Proceeds from sale and maturity of investments 23,468 4,051 Net cash from operating activities 16,505 (1,133) Cash flows used in financing activities Proceeds from sale of units 4,970 4,702 Payments for units redeemed (21,481) (3,564) Net cash used in financing activities (16,511) 1,138 Net increase (decrease) in cash (6) 5 Cash (bank indebtedness) at beginning of year 7 2 Cash (bank indebtedness) at end of year 1 7 Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 230,587 4,999 5,448 Manulife US Equity Index Fund (Manulife Asset Management) 84,623 1,183 2,123 Manulife Canadian Bond Index Fund (Manulife Asset Management) 92,043 2,159 2,467 Manulife International Equity Index Fund (BlackRock) 109,707 1,520 2,144 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 9,861 12,182 Other assets, less liabilities 0.00% 1 1 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 9,862 12,

104 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 1,616 1,506 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 1,616 1,506 Net assets attributable to contractholders per unit Manulife Multi-manager Target Date 2015 Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 1,506 1,181 ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (396) (510) Net capital unit transactions end of year 1,616 1,506 Units Manulife US Equity Index Fund (Manulife Asset Management) 4, Manulife SLI International Equity Fund 2, Manulife Asset Management Long Term Bond Fund 10, Manulife Canadian Bond Index Fund (Manulife Asset Management) 24, Manulife MMF Corporate Bond Fund 8, Manulife Canadian Equity Fund (Beutel Goodman) 11, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 1,400 1,616 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 1,400 1,616 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (64) (131) Purchase of investments (312) (431) Proceeds from sale and maturity of investments Net cash from operating activities (47) (198) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (396) (510) Net cash used in financing activities Net increase (decrease) in cash - - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year

105 Manulife Multi-manager Target Date 2020 Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 4,334 2,580 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 4,334 2,580 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 2,580 2,344 ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 2,286 1,672 Units redeemed (664) (1,689) Net capital unit transactions 1,622 (17) end of year 4,334 2,580 Units Manulife US Equity Index Fund (Manulife Asset Management) 17, Manulife SLI International Equity Fund 10, Manulife Asset Management Long Term Bond Fund 28, Manulife Canadian Bond Index Fund (Manulife Asset Management) 48,872 1,239 1,310 Manulife MMF Corporate Bond Fund 23, Manulife Canadian Equity Fund (Beutel Goodman) 37, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 3,883 4,334 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 3,883 4,334 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (133) (257) Purchase of investments (2,079) (712) Proceeds from sale and maturity of investments Net cash from operating activities (1,622) 17 Cash flows used in financing activities Proceeds from sale of units 2,286 1,672 Payments for units redeemed (664) (1,689) Net cash used in financing activities 1,622 (17) Net increase (decrease) in cash - - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year

106 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 4,716 3,475 4,716 3,475 LIABILITIES Current liabilities Redemptions payable NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 4,716 3,473 Net assets attributable to contractholders per unit Manulife Multi-manager Target Date 2025 Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 3,473 2,170 ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 1,825 1,740 Units redeemed (770) (721) Net capital unit transactions 1,055 1,019 end of year 4,716 3,473 Units Manulife US Equity Index Fund (Manulife Asset Management) 26, Manulife SLI International Equity Fund 15, Manulife Asset Management Long Term Bond Fund 30, Manulife Canadian Bond Index Fund (Manulife Asset Management) 26, Manulife MMF Corporate Bond Fund 25, Manulife Canadian Equity Fund (Beutel Goodman) 40, Manulife Guardian Canadian Equity Fund 7, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 4,137 4,716 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 4,137 4,716 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (189) (288) Purchase of investments (1,844) (1,412) Proceeds from sale and maturity of investments Net cash from operating activities (1,053) (1,021) Cash flows used in financing activities Proceeds from sale of units 1,825 1,740 Payments for units redeemed (772) (719) Net cash used in financing activities 1,053 1,021 Net increase (decrease) in cash - - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year

107 Manulife Multi-manager Target Date 2030 Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 4,081 3,034 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 4,081 3,034 Net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 3,034 2,105 ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 1,178 1,672 Units redeemed (286) (1,001) Net capital unit transactions end of year 4,081 3,034 Units Manulife US Equity Index Fund (Manulife Asset Management) 22, Manulife SLI International Equity Fund 13, Manulife Asset Management Long Term Bond Fund 26, Manulife Canadian Bond Index Fund (Manulife Asset Management) 6, Manulife MMF Corporate Bond Fund 22, Manulife AGF Emerging Markets Equity Fund 14, Manulife Canadian Equity Fund (Beutel Goodman) 35, Manulife Guardian Canadian Equity Fund 13, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 3,519 4,081 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 3,519 4,081 STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (156) (262) Purchase of investments (1,317) (1,132) Proceeds from sale and maturity of investments Net cash from operating activities (892) (671) Cash flows used in financing activities Proceeds from sale of units 1,178 1,672 Payments for units redeemed (286) (1,001) Net cash used in financing activities Net increase (decrease) in cash - - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year

108 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 4,445 2,669 Cash 3-4,448 2,669 LIABILITIES Current liabilities Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 4,445 2,669 Net assets attributable to contractholders per unit Manulife Multi-manager Target Date 2035 Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 2,669 1,682 ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 2,125 1,553 Units redeemed (477) (798) Net capital unit transactions 1, end of year 4,445 2,669 Units Manulife US Equity Index Fund (Manulife Asset Management) 24, Manulife SLI International Equity Fund 14, Manulife Asset Management Long Term Bond Fund 28, Manulife MMF Corporate Bond Fund 21, Manulife AGF Emerging Markets Equity Fund 32, Manulife Canadian Equity Fund (Beutel Goodman) 28, Manulife Guardian Canadian Equity Fund 21, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 3,970 4,445 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 3,970 4,445 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (129) (236) Purchase of investments (2,098) (1,089) Proceeds from sale and maturity of investments Net cash from operating activities (1,645) (755) Cash flows used in financing activities Proceeds from sale of units 2,125 1,553 Payments for units redeemed (477) (798) Net cash used in financing activities 1, Net increase (decrease) in cash 3 - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year 3-108

109 Manulife Multi-manager Target Date 2040 Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 3,692 2,356 Cash 1-3,693 2,356 LIABILITIES Current liabilities Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 3,692 2,356 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 2,356 1,739 ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 1,690 1,036 Units redeemed (468) (642) Net capital unit transactions 1, end of year 3,692 2,356 Units Manulife US Equity Index Fund (Manulife Asset Management) 21, Manulife SLI International Equity Fund 13, Manulife Asset Management Long Term Bond Fund 32, Manulife MMF Corporate Bond Fund 5, Manulife AGF Emerging Markets Equity Fund 26, Manulife Canadian Equity Fund (Beutel Goodman) 24, Manulife Guardian Canadian Equity Fund 19, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 3,208 3,692 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 3,208 3,692 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (115) (227) Purchase of investments (1,695) (572) Proceeds from sale and maturity of investments Net cash from operating activities (1,221) (394) Cash flows used in financing activities Proceeds from sale of units 1,690 1,036 Payments for units redeemed (468) (642) Net cash used in financing activities 1, Net increase (decrease) in cash 1 - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year 1-109

110 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 1,973 1,433 Receivable from investments sold 1-1,974 1,433 LIABILITIES Current liabilities Bank indebtedness 1 - Redemptions payable NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 1,973 1,432 Net assets attributable to contractholders per unit Manulife Multi-manager Target Date 2045 Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 1, ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (325) (410) Net capital unit transactions end of year 1,973 1,432 Units Manulife US Equity Index Fund (Manulife Asset Management) 12, Manulife SLI International Equity Fund 7, Manulife Asset Management Long Term Bond Fund 17, Manulife AGF Emerging Markets Equity Fund 14, Manulife Canadian Equity Fund (Beutel Goodman) 12, Manulife Guardian Canadian Equity Fund 11, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 1,702 1,973 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 1,702 1,973 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (74) (130) Purchase of investments (835) (468) Proceeds from sale and maturity of investments Net cash from operating activities (468) (336) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (326) (410) Net cash used in financing activities Net increase (decrease) in cash (1) - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year (1) - 110

111 Manulife Multi-manager Target Date 2050 Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 1,491 1,162 Receivable from investments sold - 4 1,491 1,166 LIABILITIES Current liabilities Bank indebtedness NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 1,491 1,162 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 1, ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (339) (243) Net capital unit transactions end of year 1,491 1,162 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (61) (106) Purchase of investments (576) (406) Proceeds from sale and maturity of investments Net cash from operating activities (264) (298) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (339) (243) Net cash used in financing activities Net increase (decrease) in cash 4 (4) Cash (bank indebtedness) at beginning of year (4) - Cash (bank indebtedness) at end of year - (4) Units Manulife US Equity Index Fund (Manulife Asset Management) 9, Manulife SLI International Equity Fund 5, Manulife Asset Management Long Term Bond Fund 12, Manulife AGF Emerging Markets Equity Fund 10, Manulife Canadian Equity Fund (Beutel Goodman) 9, Manulife Guardian Canadian Equity Fund 8, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 1,278 1,491 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 1,278 1,

112 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit Manulife Multi-manager Target Date 2055 Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives 5 4 ATTRIBUTABLE TO CONTRACTHOLDERS 5 4 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS 5 4 CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (32) (4) Net capital unit transactions end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 5 4 Adjustments for: investments and derivatives (5) (4) Purchase of investments (105) (73) Proceeds from sale and maturity of investments 35 6 Net cash from operating activities (70) (67) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (32) (4) Net cash used in financing activities Net increase (decrease) in cash - - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year - - Units Manulife US Equity Index Fund (Manulife Asset Management) 1, Manulife SLI International Equity Fund Manulife Asset Management Long Term Bond Fund 1, Manulife AGF Emerging Markets Equity Fund 1, Manulife Canadian Equity Fund (Beutel Goodman) 1, Manulife Guardian Canadian Equity Fund TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

113 Manulife Multi-manager Retirement Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 3,355 1,345 Cash Subscriptions receivable 81 - Receivable from investments sold - 3 3,597 1,348 LIABILITIES Current liabilities Bank indebtedness - 3 Redemptions payable Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 3,399 1,310 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 1,310 1,035 ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 2, Units redeemed (966) (498) Net capital unit transactions 2, end of year 3,399 1,310 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (76) (114) Purchase of investments (2,367) (574) Proceeds from sale and maturity of investments Net cash from operating activities (1,770) (200) Cash flows used in financing activities Proceeds from sale of units 2, Payments for units redeemed (964) (463) Net cash used in financing activities 1, Net increase (decrease) in cash 164 (3) Cash (bank indebtedness) at beginning of year (3) - Cash (bank indebtedness) at end of year 161 (3) 113

114 POOLED AND INDEXED FUNDS Manulife Multi-manager Retirement Fund (expressed in thousands of dollars) Units Manulife US Equity Index Fund (Manulife Asset Management) 9, Manulife SLI International Equity Fund 5, Manulife Asset Management Long Term Bond Fund 21, Manulife Canadian Bond Index Fund (Manulife Asset Management) 50,323 1,301 1,349 Manulife MMF Corporate Bond Fund 18, Manulife Canadian Equity Fund (Beutel Goodman) 23, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 98.69% 3,193 3,355 Other assets, less liabilities 1.31% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 3,237 3,

115 Manulife Target Date 2015 Index Fund (Manulife) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold - 40 Units redeemed (95) (98) Net capital unit transactions (95) (58) end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (11) (24) Purchase of investments (8) (48) Proceeds from sale and maturity of investments Net cash from operating activities Cash flows used in financing activities Proceeds from sale of units - 40 Payments for units redeemed (95) (98) Net cash used in financing activities (95) (58) Net increase (decrease) in cash - - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year - - Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 1, Manulife US Equity Index Fund (Manulife Asset Management) Manulife Canadian Bond Index Fund (Manulife Asset Management) 4, Manulife International Equity Index Fund (BlackRock) TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

116 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets Receivable from investments sold LIABILITIES Current liabilities Bank indebtedness NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit Manulife Target Date 2020 Index Fund (Manulife) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (43) (205) Net capital unit transactions (17) (105) end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (17) (43) Purchase of investments (45) (117) Proceeds from sale and maturity of investments Net cash from operating activities Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (43) (205) Net cash used in financing activities (17) (105) Net increase (decrease) in cash (1) (1) Cash (bank indebtedness) at beginning of year - 1 Cash (bank indebtedness) at end of year (1) - Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 3, Manulife US Equity Index Fund (Manulife Asset Management) 1, Manulife Canadian Bond Index Fund (Manulife Asset Management) 9, Manulife International Equity Index Fund (BlackRock) 2, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

117 Manulife Target Date 2025 Index Fund (Manulife) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (110) (103) Net capital unit transactions 14 (23) end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (36) (74) Purchase of investments (162) (104) Proceeds from sale and maturity of investments Net cash from operating activities (14) 21 Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (110) (103) Net cash used in financing activities 14 (23) Net increase (decrease) in cash - (2) Cash (bank indebtedness) at beginning of year - 2 Cash (bank indebtedness) at end of year - - Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 9, Manulife US Equity Index Fund (Manulife Asset Management) 4, Manulife Canadian Bond Index Fund (Manulife Asset Management) 14, Manulife International Equity Index Fund (BlackRock) 5, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

118 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit Manulife Target Date 2030 Index Fund (Manulife) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (86) (145) Net capital unit transactions 161 (28) end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (18) (42) Purchase of investments (275) (123) Proceeds from sale and maturity of investments Net cash from operating activities (161) 22 Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (86) (145) Net cash used in financing activities 161 (28) Net increase (decrease) in cash - (6) Cash (bank indebtedness) at beginning of year - 6 Cash (bank indebtedness) at end of year - - Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 8, Manulife US Equity Index Fund (Manulife Asset Management) 3, Manulife Canadian Bond Index Fund (Manulife Asset Management) 7, Manulife International Equity Index Fund (BlackRock) 4, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

119 Manulife Target Date 2035 Index Fund (Manulife) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets Cash LIABILITIES Current liabilities Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (82) (68) Net capital unit transactions end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (23) (53) Purchase of investments (336) (113) Proceeds from sale and maturity of investments Net cash from operating activities (210) (38) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (82) (68) Net cash used in financing activities Net increase (decrease) in cash (3) 3 Cash (bank indebtedness) at beginning of year 3 - Cash (bank indebtedness) at end of year - 3 Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 11, Manulife US Equity Index Fund (Manulife Asset Management) 5, Manulife Canadian Bond Index Fund (Manulife Asset Management) 8, Manulife International Equity Index Fund (BlackRock) 7, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

120 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets LIABILITIES Current liabilities Redemptions payable NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit Manulife Target Date 2040 Index Fund (Manulife) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (88) (99) Net capital unit transactions 42 4 end of year Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 12, Manulife US Equity Index Fund (Manulife Asset Management) 6, Manulife Canadian Bond Index Fund (Manulife Asset Management) 7, Manulife International Equity Index Fund (BlackRock) 7, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities (0.10%) (1) (1) NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (36) (73) Purchase of investments (177) (126) Proceeds from sale and maturity of investments Net cash from operating activities (43) (8) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (87) (100) Net cash used in financing activities 43 3 Net increase (decrease) in cash - (5) Cash (bank indebtedness) at beginning of year - 5 Cash (bank indebtedness) at end of year

121 Manulife Target Date 2045 Index Fund (Manulife) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets Cash - 1 Receivable from investments sold LIABILITIES Current liabilities Bank indebtedness 1 - Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (58) (18) Net capital unit transactions end of year Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 5, Manulife US Equity Index Fund (Manulife Asset Management) 2, Manulife Canadian Bond Index Fund (Manulife Asset Management) 2, Manulife International Equity Index Fund (BlackRock) 3, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (12) (18) Purchase of investments (118) (115) Proceeds from sale and maturity of investments Net cash from operating activities (44) (94) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (58) (18) Net cash used in financing activities Net increase (decrease) in cash (2) - Cash (bank indebtedness) at beginning of year 1 1 Cash (bank indebtedness) at end of year (1) 1 121

122 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit Manulife Target Date 2050 Index Fund (Manulife) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives 6 10 ATTRIBUTABLE TO CONTRACTHOLDERS 6 10 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS 6 10 CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (17) (13) Net capital unit transactions end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 6 10 Adjustments for: investments and derivatives (6) (10) Purchase of investments (98) (90) Proceeds from sale and maturity of investments Net cash from operating activities (69) (73) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (17) (13) Net cash used in financing activities Net increase (decrease) in cash - (11) Cash (bank indebtedness) at beginning of year - 11 Cash (bank indebtedness) at end of year - - Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 3, Manulife US Equity Index Fund (Manulife Asset Management) 1, Manulife Canadian Bond Index Fund (Manulife Asset Management) 1, Manulife International Equity Index Fund (BlackRock) 2, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

123 Manulife Target Date 2055 Index Fund (Manulife) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives 1 1 ATTRIBUTABLE TO CONTRACTHOLDERS 1 1 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS 1 1 CAPITAL UNIT TRANSACTIONS Units sold 8 1 Units redeemed (1) (1) Net capital unit transactions 7 - end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 1 1 Adjustments for: investments and derivatives (1) (1) Purchase of investments (9) (1) Proceeds from sale and maturity of investments 2 1 Net cash from operating activities (7) - Cash flows used in financing activities Proceeds from sale of units 8 1 Payments for units redeemed (1) (1) Net cash used in financing activities 7 - Net increase (decrease) in cash - - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year - - Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) Manulife US Equity Index Fund (Manulife Asset Management) Manulife Canadian Bond Index Fund (Manulife Asset Management) Manulife International Equity Index Fund (BlackRock) TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

124 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets Receivable from investments sold LIABILITIES Current liabilities Bank indebtedness NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit Manulife Retirement Index Fund (Manulife) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME investments and derivatives 8 19 ATTRIBUTABLE TO CONTRACTHOLDERS 8 19 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS 8 19 CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (315) (70) Net capital unit transactions 402 (12) end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 8 19 Adjustments for: investments and derivatives (8) (19) Purchase of investments (742) (26) Proceeds from sale and maturity of investments Net cash from operating activities (404) 12 Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (315) (70) Net cash used in financing activities 402 (12) Net increase (decrease) in cash (2) - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year (2) - Units Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 4, Manulife US Equity Index Fund (Manulife Asset Management) 1, Manulife Canadian Bond Index Fund (Manulife Asset Management) 16, Manulife International Equity Index Fund (BlackRock) 2, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

125 Manulife MMF Corporate Bond Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 59,942 50,359 Cash Subscriptions receivable ,167 50,560 LIABILITIES Current liabilities Redemptions payable 3 54 Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 60,000 50,410 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds 1,865 1,803 investments and derivatives (586) 1,653 1,279 3,456 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 1,236 3,452 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 50,410 42,560 ATTRIBUTABLE TO CONTRACTHOLDERS 1,236 3,452 CAPITAL UNIT TRANSACTIONS Units sold 20,565 15,829 Units redeemed (12,211) (11,431) Net capital unit transactions 8,354 4,398 end of year 60,000 50,410 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 1,236 3,452 Adjustments for: investments and derivatives 586 (1,653) Purchase of investments (77,526) (11,601) Proceeds from sale and maturity of investments 67,425 5,388 Net cash from operating activities (8,279) (4,414) Cash flows used in financing activities Proceeds from sale of units 20,609 15,752 Payments for units redeemed (12,262) (11,456) Net cash used in financing activities 8,347 4,296 Net increase (decrease) in cash 68 (118) Cash (bank indebtedness) at beginning of year Cash (bank indebtedness) at end of year Units Manulife Canadian Corporate Bond Fund, Class G 5,103,645 59,848 59,942 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.90% 59,848 59,942 Other assets, less liabilities 0.10% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 59,906 60,

126 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 7,700 6,083 Subscriptions receivable Receivable from investments sold 4-7,971 6,083 LIABILITIES Current liabilities Bank indebtedness NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 7,967 6,083 Net assets attributable to contractholders per unit Manulife MMF Monthly Income Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds investments and derivatives (114) EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 6,083 4,217 ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 4,267 3,138 Units redeemed (2,531) (1,774) Net capital unit transactions 1,736 1,364 end of year 7,967 6,083 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives 114 (247) Purchase of investments (10,487) (2,636) Proceeds from sale and maturity of investments 8,752 1,038 Net cash from operating activities (1,473) (1,343) Cash flows used in financing activities Proceeds from sale of units 4,000 3,138 Payments for units redeemed (2,531) (1,795) Net cash used in financing activities 1,469 1,343 Net increase (decrease) in cash (4) - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year (4) - Units Manulife Canadian Monthly Income Fund, Class G 802,061 8,013 7,700 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 96.65% 8,013 7,700 Other assets, less liabilities 3.35% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 8,280 7,

127 Manulife MMF Canadian Dividend Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 178, ,443 Cash 39 - Subscriptions receivable Receivable from investments sold , ,873 LIABILITIES Current liabilities Bank indebtedness Redemptions payable Payable on investments purchased 39 - Accrued expenses 1 3 Other liabilities NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 178, ,201 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds 16,842 8,774 investments and derivatives (16,224) 7, ,946 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS ,350 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 180, ,346 ATTRIBUTABLE TO CONTRACTHOLDERS ,350 CAPITAL UNIT TRANSACTIONS Units sold 38,045 39,282 Units redeemed (40,334) (44,777) Net capital unit transactions (2,289) (5,495) end of year 178, ,201 Units Manulife Canadian Dividend Growth Fund, Class G 3,582, , ,228 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.98% 194, ,228 Other assets, less liabilities 0.02% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 194, ,261 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders ,350 Adjustments for: investments and derivatives 16,224 (7,172) Purchase of investments (172,877) (21,395) Proceeds from sale and maturity of investments 159,317 17,999 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities (12) (3) Net cash from operating activities 3,001 4,779 Cash flows used in financing activities Proceeds from sale of units 37,992 39,378 Payments for units redeemed (40,544) (44,576) Net cash used in financing activities (2,552) (5,198) Net increase (decrease) in cash 449 (419) Cash (bank indebtedness) at beginning of year (410) 9 Cash (bank indebtedness) at end of year 39 (410) 127

128 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 23,381 19,395 Cash 14 - Subscriptions receivable 7 79 Receivable from investments sold ,402 19,475 LIABILITIES Current liabilities Bank indebtedness - 1 Redemptions payable 1 83 Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 23,387 19,391 Net assets attributable to contractholders per unit Manulife MMF Global Dividend Fund (SLI) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds investments and derivatives 4, ,844 1,075 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 4,821 1,054 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 19,391 9,801 ATTRIBUTABLE TO CONTRACTHOLDERS 4,821 1,054 CAPITAL UNIT TRANSACTIONS Units sold 8,641 11,997 Units redeemed (9,466) (3,461) Net capital unit transactions (825) 8,536 end of year 23,387 19,391 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 4,821 1,054 Adjustments for: investments and derivatives (4,146) (653) Purchase of investments (24,005) (10,589) Proceeds from sale and maturity of investments 24,180 1,651 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities - (1) Net cash from operating activities 850 (8,538) Cash flows used in financing activities Proceeds from sale of units 8,713 11,929 Payments for units redeemed (9,548) (3,401) Net cash used in financing activities (835) 8,528 Net increase (decrease) in cash 15 (10) Cash (bank indebtedness) at beginning of year (1) 9 Cash (bank indebtedness) at end of year 14 (1) Units Manulife Global Dividend Growth Fund, Class G 1,325,702 22,375 23,381 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.97% 22,375 23,381 Other assets, less liabilities 0.03% 6 6 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 22,381 23,

129 Manulife MMF Global Unconstrained Equity Fund (SLI) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 102,201 74,975 Subscriptions receivable 15 5 Receivable from investments sold ,340 75,032 LIABILITIES Current liabilities Bank indebtedness Redemptions payable Accrued expenses 1 - Other liabilities NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 102,100 74,939 Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds investments and derivatives 18,007 3,806 18,694 4,379 EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS 18,595 4,327 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year 74,939 20,896 ATTRIBUTABLE TO CONTRACTHOLDERS 18,595 4,327 CAPITAL UNIT TRANSACTIONS Units sold 25,746 54,037 Units redeemed (17,180) (4,321) Net capital unit transactions 8,566 49,716 end of year 102,100 74,939 STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 18,595 4,327 Adjustments for: investments and derivatives (18,007) (3,806) Purchase of investments (100,947) (52,506) Proceeds from sale and maturity of investments 91,656 2,594 Increase (decrease) in accrued expenses, other liabilities and payable secured by securities - (1) Net cash from operating activities (8,703) (49,392) Cash flows used in financing activities Proceeds from sale of units 25,736 54,044 Payments for units redeemed (17,105) (4,292) Net cash used in financing activities 8,631 49,752 Net increase (decrease) in cash (72) 360 Cash (bank indebtedness) at beginning of year (52) (412) Cash (bank indebtedness) at end of year (124) (52) Units Manulife Global Equity Unconstrained Fund, Class G 7,677,112 98, ,201 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 98, ,201 Other assets, less liabilities (0.10%) (101) (101) NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 98, ,

130 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 1, Subscriptions receivable 1 2 Receivable from investments sold 17-1, LIABILITIES Current liabilities Bank indebtedness NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 1, Net assets attributable to contractholders per unit Manulife MMF Global Bond Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds 95 6 investments and derivatives (60) ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 1, Units redeemed (330) (22) Net capital unit transactions end of year 1, STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives 60 (13) Purchase of investments (1,754) (300) Proceeds from sale and maturity of investments Net cash from operating activities (769) (272) Cash flows used in financing activities Proceeds from sale of units 1, Payments for units redeemed (330) (22) Net cash used in financing activities Net increase (decrease) in cash (17) - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year (17) - Units Standard Life Global Bond Fund, Class G 97,563 1,262 1,178 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 99.92% 1,262 1,178 Other assets, less liabilities 0.08% 1 1 NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 1,263 1,

131 Manulife MMF Conservative Income Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds 12 5 investments and derivatives (9) ATTRIBUTABLE TO CONTRACTHOLDERS 3 11 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS 3 11 CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (46) (27) Net capital unit transactions end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 3 11 Adjustments for: investments and derivatives 9 (6) Purchase of investments (759) (43) Proceeds from sale and maturity of investments Net cash from operating activities (300) (10) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (46) (27) Net cash used in financing activities Net increase (decrease) in cash - - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year - - Units Manulife Conservative Income Fund, Class G 32, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

132 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets Subscriptions receivable NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit Manulife MMF Tactical Income Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds investments and derivatives (2) (105) ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (23) (19) Net capital unit transactions end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives Purchase of investments (739) (408) Proceeds from sale and maturity of investments Net cash from operating activities (212) (275) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (23) (19) Net cash used in financing activities Net increase (decrease) in cash - - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year - - Units Manulife Tactical Income Fund, Class G 57, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 73.36% Other assets, less liabilities 26.64% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

133 Manulife MMF Dividend Income Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds investments and derivatives (13) ATTRIBUTABLE TO CONTRACTHOLDERS 6 24 Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS 6 24 CAPITAL UNIT TRANSACTIONS Units sold Units redeemed (308) (188) Net capital unit transactions end of year STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders 6 24 Adjustments for: investments and derivatives 13 (5) Purchase of investments (840) (452) Proceeds from sale and maturity of investments Net cash from operating activities (61) (249) Cash flows used in financing activities Proceeds from sale of units Payments for units redeemed (308) (188) Net cash used in financing activities Net increase (decrease) in cash - - Cash (bank indebtedness) at beginning of year - - Cash (bank indebtedness) at end of year - - Units Manulife Canadian Dividend Income Fund, Class G 38, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS %

134 POOLED AND INDEXED FUNDS STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets 1, Cash 5 3 Subscriptions receivable - 1 1, LIABILITIES Current liabilities Redemptions payable - 7 Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 1, Net assets attributable to contractholders per unit Manulife MMF US Dividend Income Fund (expressed in thousands of dollars, except per unit amounts) STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds investments and derivatives EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 1, Units redeemed (395) (45) Net capital unit transactions end of year 1, STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives (107) (58) Purchase of investments (2,425) (577) Proceeds from sale and maturity of investments 1, Net cash from operating activities (725) (534) Cash flows used in financing activities Proceeds from sale of units 1, Payments for units redeemed (402) (38) Net cash used in financing activities Net increase (decrease) in cash 2 3 Cash (bank indebtedness) at beginning of year 3 - Cash (bank indebtedness) at end of year 5 3 Units Manulife U.S. Dividend Income Fund, Class G 107,243 1,652 1,636 TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS % 1,652 1,636 Other assets, less liabilities 0.00% - - NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 1,652 1,

135 Manulife MMF Global REIT Unconstrained Fund (SLI) (expressed in thousands of dollars, except per unit amounts) STATEMENT OF FINANCIAL POSITION as at December 31 ASSETS Current assets Investments, non-derivative financial assets Cash 3 2 Subscriptions receivable 133-1, LIABILITIES Current liabilities Payable on investments purchased NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS 1, Net assets attributable to contractholders per unit STATEMENT OF COMPREHENSIVE INCOME INCOME Distribution income from underlying funds investments and derivatives (10) EXPENSES Other operating expenses ATTRIBUTABLE TO CONTRACTHOLDERS Increase (decrease) in net assets attributable to contractholders per unit STATEMENT OF CHANGES IN FINANCIAL POSITION beginning of year ATTRIBUTABLE TO CONTRACTHOLDERS CAPITAL UNIT TRANSACTIONS Units sold 1, Units redeemed (569) (14) Net capital unit transactions end of year 1, STATEMENT OF CASH FLOWS Cash flows from operating activities Increase (decrease) in net assets attributable to contractholders Adjustments for: investments and derivatives 10 (9) Purchase of investments (2,072) (169) Proceeds from sale and maturity of investments 1,376 3 Net cash from operating activities (601) (148) Cash flows used in financing activities Proceeds from sale of units 1, Payments for units redeemed (569) (14) Net cash used in financing activities Net increase (decrease) in cash 1 2 Cash (bank indebtedness) at beginning of year 2 - Cash (bank indebtedness) at end of year 3 2 Units Manulife Global Real Estate Unconstrained Fund, Class G 52,851 1, TOTAL INVESTMENTS, NON-DERIVATIVE FINANCIAL ASSETS 87.92% 1, Other assets, less liabilities 12.08% NET ASSETS ATTRIBUTABLE TO CONTRACTHOLDERS % 1,134 1,

136 POOLED AND INDEXED FUNDS Notes to annual financial statements For the years ended December 31, 2015 and 2014 (expressed in thousands of dollars) 1. ESTABLISHMENT OF THE FUNDS The Pooled and Indexed Funds (the Funds ) are offered through a group variable annuity contract issued by The Manufacturers Life Insurance Company (the Company ) under the authority of the Insurance Companies Act (Canada). The assets of the Funds are held by the Company on behalf of the contractholders and are segregated from other assets of the Company. The Funds are not separate legal entities. The Funds may hold different types of investments depending on their investment objectives as defined in the Statement of Pooled Funds Investment Policies and Goals. The Company, as investment fund manager of the Funds, is responsible for their day-to-day management, operations and promotion. The Company s registered office is 500 King Street, Waterloo, Ontario, Canada. The Company is a wholly owned subsidiary of Manulife Financial Corporation, a Canadian listed company. On January 30, 2015, Standard Life plc, through its subsidiaries, sold its Canadian business comprising Standard Life Financial Inc. ( SLFI ) and Standard Life Investments Inc. ( SLI ) to the Company. On February 2, 2015, SLFI was renamed Canada Inc., SLI was renamed Manulife Asset Management Accord (2015) Inc. ( Manulife AM Accord ) and Standard Life Investments (Real Estate) Inc., a wholly owned subsidiary of SLI, was renamed Manulife Asset Management Private Markets (Canada) Corp. ( MAMPM ). On June 2, 2015, Canada Inc. was wound up into the Company. On July 1, 2015, Manulife AM Accord was amalgamated with Manulife Asset Management Limited ( MAML ), which became the parent company of MAMPM on that date. In addition, on July 1, 2015, an assignment and assumption transaction agreement was signed whereby the Company assumed the business of The Standard Life Assurance Company of Canada ( SLAC ), a wholly owned subsidiary of the Company. On November 30, 2015, Standard Life Trust Company, a subsidiary of the Company, was renamed Manulife Trust Services Limited ( MTSL ). Prior to January 30, 2015, SLAC was the issuer of the Funds and a wholly owned subsidiary of SLFI, a holding company incorporated in Canada whose ultimate parent was Standard Life plc ( Ultimate Parent ), a listed company resident in Edinburgh, Scotland. These annual financial statements were authorized for issue by the Company on April 8, The Funds names were changed on October 1, The previous and current Funds names and their establishment dates were as follows: Previous Fund name Current Fund name Date established Standard Life Canadian Equity Fund (SLI) Manulife Asset Management Canadian Equity Fund August 1, 1966 Standard Life Canadian Value Equity Fund (SLI) Manulife Asset Management Canadian Value Equity Fund September 19, 2003 Standard Life Canadian Equity Index Fund (SLI) Manulife Canadian Equity Index Fund (Manulife Asset Management) August 31, 1998 Standard Life Capped Canadian Equity Fund (SLI) Manulife Capped Canadian Equity Fund (Manulife Asset Management) September 29, 2000 Standard Life Canadian Equity Capped Index Fund (SLI) Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) March 16, 2001 Standard Life Canadian Small-Cap Equity Fund (SLI) Manulife Asset Management Canadian Small-Cap Equity Fund June 17, 1996 Standard Life Equity Tri-Plan Fund (SLI) Manulife Equity Tri-Plan Fund (Manulife Asset Management) September 15, 1969 Standard Life US Equity Fund (SLI) Manulife SLI US Equity Fund October 1, 1985 Standard Life US Equity Index Fund (SLI) Manulife US Equity Index Fund (Manulife Asset Management) August 31, 1998 Standard Life US Equity Direct Index Registered Fund (SLI) Manulife Asset Management US Equity Direct Index Registered Fund January 18, 1999 Standard Life US Equity Non-Registered Fund (SLI) Manulife SLI US Equity Non-Registered Fund June 26, 1997 Standard Life Hedged US Equity Index Fund (SLI) Manulife Asset Management Hedged US Equity Index Fund July 27, 2010 Standard Life International Equity Fund (SLI) Manulife SLI International Equity Fund December 31, 1994 Standard Life Global Absolute Return Strategies Fund (SLI) Manulife SLI Global Absolute Return Strategies Fund May 6,

137 Previous Fund name Current Fund name Date established Standard Life Absolute Return Global Bond Strategies Manulife Standard Life Investments Absolute Return Global Fund (SLI) Bond Strategies Fund June 10, 2014 Standard Life Bond Fund (SLI) Manulife Asset Management Bond Fund July 1, 1968 Standard Life Short Term Bond Fund (SLI) Manulife Asset Management Short Term Bond Fund June 27, 2012 Standard Life Long Term Bond Fund (SLI) Manulife Asset Management Long Term Bond Fund December 22, 2003 Standard Life Short-Term Liability Government Bond Fund (SLI) Manulife Asset Management Short-Term Liability Government Bond Fund January 15, 2013 Standard Life Mid-Term Liability Government Bond Fund (SLI) Manulife Asset Management Mid-Term Liability Government Bond Fund January 15, 2013 Standard Life Long-Term Liability Government Bond Fund (SLI) Manulife Asset Management Long-Term Liability Government Bond Fund January 15, 2013 Standard Life Canadian Bond Index Fund (SLI) Manulife Canadian Bond Index Fund (Manulife Asset Management) August 31, 1998 Standard Life Real Return Bond Fund (SLI) Manulife Asset Management Real Return Bond Fund December 22, 2003 Standard Life Diversified Fund (SLI) Manulife Asset Management Diversified Fund January 1, 1988 Standard Life Diversified Tri-Plan Fund (SLI) Manulife Diversified Tri-Plan Fund (Manulife Asset Management) November 15, 1973 Standard Life Money Market Fund (SLI) Manulife Money Market Fund (Manulife Asset Management) November 26, 1975 Standard Life Real Estate Fund (SLIRE) Manulife Canadian Pooled Real Estate Fund January 1, 1983 Standard Life Mortgage Fund (Standard Life) Manulife Canadian Mortgage Fund March 1, 1969 Standard Life Small Cap Portfolio Fund (Standard Life) Manulife Small Cap Portfolio Fund (Multi-Manager) November 23, 1998 Standard Life Income Index Portfolio Fund (Standard Life) Manulife Income Index Portfolio Fund April 3, 2000 Standard Life Balanced Index Portfolio Fund (Standard Life) Manulife Balanced Index Portfolio Fund April 3, 2000 Standard Life Growth Index Portfolio Fund (Standard Life) Manulife Growth Index Portfolio Fund April 3, 2000 Standard Life Target Date 2015 Fund (Standard Life) Manulife Multi-manager Target Date 2015 Fund January 23, 2012 Standard Life Target Date 2020 Fund (Standard Life) Manulife Multi-manager Target Date 2020 Fund January 23, 2012 Standard Life Target Date 2025 Fund (Standard Life) Manulife Multi-manager Target Date 2025 Fund January 23, 2012 Standard Life Target Date 2030 Fund (Standard Life) Manulife Multi-manager Target Date 2030 Fund January 23, 2012 Standard Life Target Date 2035 Fund (Standard Life) Manulife Multi-manager Target Date 2035 Fund January 23, 2012 Standard Life Target Date 2040 Fund (Standard Life) Manulife Multi-manager Target Date 2040 Fund January 23, 2012 Standard Life Target Date 2045 Fund (Standard Life) Manulife Multi-manager Target Date 2045 Fund January 23, 2012 Standard Life Target Date 2050 Fund (Standard Life) Manulife Multi-manager Target Date 2050 Fund January 23, 2012 Standard Life Target Date 2055 Fund (Standard Life) Manulife Multi-manager Target Date 2055 Fund May 15, 2013 Standard Life Retirement Fund (Standard Life) Manulife Multi-manager Retirement Fund January 23, 2012 Standard Life Target Date 2015 Index Fund (Standard Life) Manulife Target Date 2015 Index Fund (Manulife) December 17, 2012 Standard Life Target Date 2020 Index Fund (Standard Life) Manulife Target Date 2020 Index Fund (Manulife) December 17, 2012 Standard Life Target Date 2025 Index Fund (Standard Life) Manulife Target Date 2025 Index Fund (Manulife) December 17, 2012 Standard Life Target Date 2030 Index Fund (Standard Life) Manulife Target Date 2030 Index Fund (Manulife) December 17, 2012 Standard Life Target Date 2035 Index Fund (Standard Life) Manulife Target Date 2035 Index Fund (Manulife) December 17, 2012 Standard Life Target Date 2040 Index Fund (Standard Life) Manulife Target Date 2040 Index Fund (Manulife) December 17, 2012 Standard Life Target Date 2045 Index Fund (Standard Life) Manulife Target Date 2045 Index Fund (Manulife) December 17, 2012 Standard Life Target Date 2050 Index Fund (Standard Life) Manulife Target Date 2050 Index Fund (Manulife) December 17, 2012 Standard Life Target Date 2055 Index Fund (Standard Life) Manulife Target Date 2055 Index Fund (Manulife) May 30,

138 POOLED AND INDEXED FUNDS Previous Fund name Current Fund name Date established Standard Life Retirement Index Fund (Standard Life) Manulife Retirement Index Fund (Manulife) December 17, 2012 Standard Life Corporate Bond Fund (SLMF) Manulife MMF Corporate Bond Fund April 3, 2000 Standard Life Monthly Income Fund (SLMF) Manulife MMF Monthly Income Fund May 16, 2012 Standard Life Canadian Dividend Fund (SLMF) Manulife MMF Canadian Dividend Fund May 1, 1998 Standard Life Global Dividend Fund (SLMF) Manulife MMF Global Dividend Fund (SLI) April 3, 2000 Standard Life Global Equity Fund (SLMF) Manulife MMF Global Unconstrained Equity Fund (SLI) June 20, 2011 Standard Life Global Bond Fund (SLMF) (formerly Standard Life International Bond Fund (SLMF)) Manulife MMF Global Bond Fund December 13, 2013 Standard Life Diversified Income Fund (SLMF) Manulife MMF Conservative Income Fund December 13, 2013 Standard Life Tactical Income Fund (SLMF) Manulife MMF Tactical Income Fund December 13, 2013 Standard Life Dividend Income Fund (SLMF) Manulife MMF Dividend Income Fund December 13, 2013 Standard Life US Dividend Growth Fund (SLMF) Manulife MMF US Dividend Income Fund December 13, 2013 Standard Life Global REIT Fund (SLMF) Manulife MMF Global REIT Unconstrained Fund (SLI) December 13, 2013 For the Fund established during the year ended December 31, 2014, the statement of comprehensive income, the statement of changes in financial position and the statement of cash flows relate to the period from inception to December 31, SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation These annual financial statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) as issued by the International Accounting Standards Board and as required by Canadian securities legislation and the Canadian Accounting Standards Board. The significant accounting policies set out below have been consistently applied within these annual financial statements. (b) Redeemable units issued by the Funds IAS 32 Financial Instruments: Presentation requires that units of an entity which include a contractual obligation for the issuer to repurchase or redeem them for cash or another financial asset be classified as a financial liability unless certain criteria are met, in which case they are to be presented as equity instruments. The Funds units do not meet the criteria in IAS 32 for classification as equity instruments and therefore, have been reclassified as financial liabilities. (c) Standard and other amendments that have not been early adopted by the Funds IFRS 9 Financial Instruments and consequential amendments to IFRS 7 Financial instruments: Disclosures (effective for annual periods beginning on or after January 1, 2018) IFRS 9 will replace IAS 39 Financial Instruments: Recognition and Measurement. IFRS 9 allows three measurement categories for financial assets: amortized, fair value through other comprehensive income ( FVTOCI ) and fair value through profit or loss ( FVTPL ). Debt instruments are measured at amortized only if held to collect contractual cash flows that represent principal and interest; otherwise they are measured at FVTOCI or at FVTPL depending on the business model it is held within or the option to adopt FVTPL has been applied. All equity instruments are measured at fair value and changes in fair value are presented in profit or loss or, if not held for trading ( HFT ), may be presented in other comprehensive income ( OCI ) without subsequent reclassification to profit or loss. IFRS 9 also introduces a new impairment model, an expected credit loss model which will replace the current incurred loss model in IAS 39. Any impairment loss may be recognized prior to a loss event occurring. Financial liabilities that are HFT are measured at FVTPL. For financial liabilities designated as FVTPL, changes in the fair value due to changes in the liability s credit risk are recognized directly in OCI without subsequent reclassification to profit or loss. Financial liabilities that are neither HFT nor designated as FVTPL are measured at amortized. IFRS 9 carries forward the existing IAS 39 requirements for derecognition of financial assets and liabilities and introduces a new model for general hedging requirements. Amendments to IFRS 7 consist of additional disclosures required for the transition from IAS 39 to IFRS 9. The Company is currently assessing the impact of this new standard, which will have to be applied retrospectively. 138

139 (d) Critical accounting estimates and judgments The preparation of these annual financial statements requires management to make estimates about the future and exercise judgment in applying its accounting policies. The areas where judgments and estimates have the most significant effect on the amounts recognized in these annual financial statements are the determination of the fair value of level 3 financial instruments as explained in Note 3(c) and Note 3(a) mortgage investments and the determination of the fair value of real estate as explained in Note 2(g). (e) Investments in structured entities: subsidiaries or associates Structured entities are entities that have been designed so that the 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. The Funds have determined that all investments in underlying funds are investments in structured entities. Refer to Note 7 for more details on these investments. (e)(i) Subsidiaries Subsidiaries are investments in underlying funds over which the Fund has control. A Fund controls an underlying fund when it has all of the following: power over the underlying fund (current ability to direct the relevant activities of the investee); exposure, or rights to, variable returns from its involvement with the underlying fund; and the ability to affect those returns through its power over the underlying fund. Different thresholds have been determined to assess control over an underlying fund based on judgment and factors such as substantive rights of other parties, the number of investors required to act together to exercise those substantive rights and the expected variability and magnitude of the returns of the economic interest held. The Funds have determined that when an external portfolio manager manages the underlying fund, the Funds have no control over the underlying fund as they have no ability to affect the returns through their power over the underlying fund. IFRS 10 Consolidated Financial Statements defines an investment entity and provides them with an exception to the consolidation requirements of its subsidiaries. The Funds have determined that they meet the definition of an investment entity as the following conditions exist: they have obtained funds for the purpose of providing investors with investment management services; their business purpose, which was communicated directly to investors, is investing solely for returns from capital appreciation and/or investment income; and they measure and evaluate the performance of their investments on a fair value basis. As a result, subsidiaries are measured at FVTPL in accordance with IAS 39 and are presented in investments, non-derivative financial assets in the statement of financial position. (e)(ii) Associates Associates are investments in underlying funds over which the Fund has significant influence over the financial and operating policies, but not control. A Fund is considered to have significant influence over an underlying fund if the latter s portfolio manager is a related party and the investment in the underlying fund is less than the threshold determined to assess control over an underlying fund (refer to Note 2(e)(i)). Those investments are measured at FVTPL in accordance with IAS 39 and are exempt from applying the equity method under IAS 28 Investments in Associates and Joint Ventures (revised 2011). They are presented in investments, non-derivative financial assets in the statement of financial position. (f) Financial instruments (f)(i) Recognition and derecognition All financial instruments are recognized at fair value on the trade date of the transaction. The current year change in unrealized appreciation (depreciation) in value of financial instruments is included in the statement of comprehensive income as realized and change in unrealized gain (loss) on investments and derivatives. A financial asset is derecognized when the right to receive cash flows from the assets has expired or the Fund has substantially transferred all risks and rewards of ownership. A financial liability is derecognized when the obligation under the liability is discharged, cancelled or expired. 139

140 POOLED AND INDEXED FUNDS (f)(ii) Classification Financial instruments Classification Investments, non-derivative financial assets FVTPL Short-term investments FVTPL Cash Loans and receivables Cash margin Loans and receivables Subscriptions receivable Loans and receivables Receivable from investments sold Loans and receivables Interest, dividends and other receivables Loans and receivables Derivative assets and liabilities FVTPL Financing on real estate FVTPL Investments, non-derivative financial assets consist of short-term investments, bonds (including asset-backed securities), equities, investments in one or multiple underlying funds and mortgage investments. Short-term investments have terms to maturity of less than one year from the date of acquisition. Cash comprises deposits with financial institutions. Bank indebtedness is disclosed separately in the statement of financial position. All financial liabilities except derivative liabilities and financing on real estate, are classified as other financial liabilities. They consist of bank indebtedness, redemptions payable, payable on investments purchased, accrued expenses, tenant deposits, other liabilities and payable secured by securities. (f)(iii) Measurement Investments, non-derivative financial assets and short-term investments were designated as FVTPL as these investments are managed and their performance is evaluated and measured on a fair value basis in accordance with each Fund s documented investment strategy. Furthermore, this designation eliminates an accounting mismatch with the basis of measurement of the financial liabilities for the redeemable units. Directly attributable transaction s are recognized and disclosed separately in the statement of comprehensive income. Financial assets classified as loans and receivables are initially recognized at fair value including transaction s. They are subsequently measured at amortized using the effective interest rate ( EIR ) method. Derivative assets and liabilities are required to be classified as HFT, which falls under the FVTPL classification. They consist of forward foreign currency contracts and futures contracts. The initial margin on deposit with brokers relating to futures contracts is recorded in the statement of financial position as cash margin. Any change in the margin requirement is settled daily on the following day. Financing on real estate was designated as FVTPL to eliminate the inconsistency that would result from measuring real estate investments at fair value and the associated mortgages on an amortized basis. All other financial liabilities are measured at amortized using the EIR method. The Funds obligation for net assets attributable to contractholders is classified as a financial liability and is presented at the redemption amount. The redemption amount is determined as the net difference between total assets and all other liabilities, for which accounting policies are described above. The Funds do not hold any financial instruments subject to master netting agreements or similar arrangements which would provide a right to offset, enforceable only in the event of default, insolvency, or bankruptcy. Therefore, the Funds do not offset financial assets and liabilities in their statement of financial position, as there are no unconditional rights to offset. (g) Real estate investments Real estate investments are properties held to earn rental income or for capital appreciation and are presented as such in the statement of financial position of Manulife Canadian Pooled Real Estate Fund. They are initially recorded at, including transaction s, and subsequently measured at fair value with changes in fair value recognized in the statement of comprehensive income. is determined without any deduction for transaction s that may be incurred on sale or other disposal. Initial direct s incurred in arranging an operating lease are added to the carrying amount of real estate investments and are recognized as an expense over the lease term on the same basis as the lease income (refer to Note 2(h)). 140

141 (h) Income recognition Interest income is recognized based on the EIR method and is accrued daily. Real estate net income, presented in the statement of comprehensive income of the Manulife Canadian Pooled Real Estate Fund, includes rental income and direct operating expenses. Rental income is recognized on a straight-line basis over the term of the lease. Lease incentives are recognized as an integral part of the total rental income and are also spread over the term of the lease. Contingent rents are recognized as revenue in the period in which they are earned. Dividend income is recognized on the ex-dividend date. Distribution income from the underlying funds can include dividends, interest and capital gains, the proceeds of which are used to purchase additional units in the underlying funds. Distribution income is recognized at the date of the distribution by the underlying funds. All expenses are accrued daily. The of investments is determined using the average method. (i) Foreign currency translation The Funds functional and presentation currency is the Canadian dollar. The fair values of investments and other assets and liabilities denominated in foreign currencies are translated into Canadian dollars at the exchange rates on the day of valuation. Purchases and sales of investments, income and expenses, denominated in foreign currencies, are translated into Canadian dollars at the rates of exchange prevailing on the dates of such transactions. The Funds do not separately report the effect of changes in foreign exchange rates from changes in fair value of securities held. Such changes are included in the realized and change in unrealized gain (loss) on investments and derivatives, in the statement of comprehensive income. The impact of changes in currency rates on assets, other than investments and liabilities, is included in foreign exchange gain (loss) in the statement of comprehensive income. (j) Currency legend The following is a list of abbreviations used in these annual financial statements: CAD Canadian dollar HKD Hong Kong dollar CHF Swiss franc JPY Japanese yen EUR Euro USD United States dollar GBP Pound sterling (k) Increase (decrease) in net assets attributable to contractholders per unit The increase (decrease) in net assets attributable to contractholders per unit of each Fund represents the increase (decrease) in net assets attributable to contractholders of each Fund, divided by the daily average number of units outstanding of each Fund for the year. (l) Income taxes The Funds are deemed to be trusts under the Income Tax Act (Canada). The Funds income and net realized capital gains and losses are deemed to be allocated to the beneficiaries. Therefore, the Funds are not subject to income tax on their income and net realized capital gains. Accordingly, no provisions for income taxes are recorded in these financial statements. 3. FINANCIAL INSTRUMENTS MEASUREMENT (a) measurement 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. 141

142 POOLED AND INDEXED FUNDS The following methods and assumptions were used to determine the fair value of financial instruments: Financial instruments whose fair values approximate their carrying values Given their short-term nature, the carrying values of all current financial instruments measured at amortized approximate their fair values. Due to its nature, the carrying values of non-current financial instruments measured at amortized approximates their fair values. Short-term investments and bonds The fair value of short-term investments and bonds (including asset-backed securities) is based on closing quoted market prices obtained from one or more recognized investment dealers. Equities The fair value of equities is determined as the closing quoted market price on the recognized stock exchange on which the equities are listed or principally traded. In circumstances where the closing quoted market price is not within the bid-ask spread, the Company determines the point within the bidask spread that is most representative of fair value based on the specific facts and circumstances. Mortgage investments The fair value of mortgage investments is estimated as the net present value of expected future cash flows using current market interest rates. The internal valuation methodology uses both observable and unobservable inputs. Unobservable inputs include credit assumptions and liquidity spread adjustments. Investments in underlying funds Investments in underlying funds are valued at the net assets attributable to unitholders per unit of each of the underlying fund s series on the day of valuation. Futures contracts The fair value of futures contracts is determined by using the closing quoted market price on the recognized stock exchange on which the futures are listed or principally traded. Forward foreign currency contracts The fair value of forward foreign currency contracts is determined by comparing the forward rate at the inception of the contract and the forward rate at the year-end date to determine the gain or loss that would arise if the contract was closed. Total return swap contracts The total return swap contracts are valued at the estimated amount that the Fund would receive or pay to terminate the swap, based on the current value of the underlying interest on the valuation date. Financing real estate The fair value of financing on real estate is estimated as the net present value of expected future cash flows using current market interest rates. (b) Determination of the fair value hierarchy All financial instruments have been analyzed using a fair value hierarchy that reflects the significance of inputs used in valuing those instruments. The fair value hierarchy is based on the following levels: Level 1 s measured using unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 s measured using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). Level 3 s measured using inputs that are not based on observable market data (refer to Note 3(c)). 142

143 The following table illustrates the classification of the Funds financial instruments within the fair value hierarchy: As at December 31 (000 s) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Manulife Asset Management Canadian Equity Fund Short-term investments - 18,552-18,552-5,399-5,399 Equities 392, , , ,414 Derivative liabilities - (848) - (848) Manulife Asset Management Canadian Value Equity Fund Investment funds 14, ,843 12, ,150 Manulife Canadian Equity Index Fund (Manulife Asset Management) Short-term investments - 10,402-10, Equities 434, , , ,838 Derivative assets Manulife Capped Canadian Equity Fund (Manulife Asset Management) Short-term investments - 9,711-9,711-2,150-2,150 Equities 171, , , ,259 Derivative liabilities - (385) - (385) Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) Short-term investments - 6,818-6, Equities 196, , , ,114 Derivative assets Manulife Asset Management Canadian Small-Cap Equity Fund Short-term investments - 7,012-7,012-6,547-6,547 Equities 167, , , ,845 Manulife Equity Tri-Plan Fund (Manulife Asset Management) Short-term investments - 3,375-3, Equities 51, ,540 58, ,285 Derivative liabilities - (119) - (119) Manulife SLI US Equity Fund Short-term investments - 3,825-3,825-3,000-3,000 Equities 330, , , ,972 Derivative liabilities - (2) - (2) Manulife US Equity Index Fund (Manulife Asset Management) Short-term investments - 3,806-3, Equities 400, , , ,960 Derivative assets Derivative liabilities (17) - - (17) Manulife Asset Management US Equity Direct Index Registered Fund Short-term investments - 5,396-5, Equities 573, , , ,037 Derivative assets Derivative liabilities (34) - - (34) Manulife SLI US Equity Non-Registered Fund Equities 7, ,579 6, ,199 Manulife Asset Management Hedged US Equity Index Fund Investment funds 8, ,461 5, ,135 Derivative assets Derivative liabilities (9) - (9) Manulife SLI International Equity Fund Investment funds 425, , , ,321 Manulife SLI Global Absolute Return Strategies Fund Investment funds 294, , , ,303 Manulife Standard Life Investments Absolute Return Global Bond Strategies Fund Investment funds 1, ,067 1, ,

144 POOLED AND INDEXED FUNDS As at December 31 (000 s) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Manulife Asset Management Bond Fund Short-term investments - 4,149-4,149-1,950-1,950 Bonds - 731,317 47, , ,007 54, ,801 Manulife Asset Management Short Term Bond Fund Investment funds 25, ,765 27, ,218 Manulife Asset Management Long Term Bond Fund Short-term investments - 14,113-14,113-6,200-6,200 Bonds - 649,495 19, , ,505 22, ,854 Investment funds , ,327 Manulife Asset Management Short-Term Liability Government Bond Fund Investment funds 53, ,471 29, ,086 Manulife Asset Management Mid-Term Liability Government Bond Fund Investment funds 77, ,372 85, ,540 Manulife Asset Management Long-Term Liability Government Bond Fund Investment funds 92, , , ,853 Manulife Canadian Bond Index Fund (Manulife Asset Management) Short-term investments - 17,007-17,007-10,500-10,500 Bonds - 3,614, ,894 3,735,914-3,366,387 91,221 3,457,608 Manulife Asset Management Real Return Bond Fund Short-term investments Bonds - 80,384-80,384-81,297-81,297 Manulife Asset Management Diversified Fund Short-term investments - 106, , , ,926 Bonds - 198,984 14, , ,551 19, ,286 Equities 447, , , ,441 Investment funds 138, , , ,226 Derivative liabilities - (657) - (657) Manulife Diversified Tri-Plan Fund (Manulife Asset Management) Short-term investments - 19,250-19,250-27,369-27,369 Bonds - 43,669 2,893 46,562-38,210 3,622 41,832 Equities 95, , , ,096 Investment funds 28, ,114 32, ,050 Derivative liabilities - (96) - (96) Manulife Money Market Fund (Manulife Asset Management) Short-term investments - 483, , ,788 17, ,107 Manulife Canadian Pooled Real Estate Fund Short-term investments - 136, , , ,135 Manulife Canadian Mortgage Fund Short-term investments - 21,800-21,800-22,212-22,212 Mortgage investments , , , ,674 Manulife Small Cap Portfolio Fund (Multi-Manager) Investment funds 4, ,919 6, ,169 Manulife Income Index Portfolio Fund Investment funds 11, ,600 24, ,702 Manulife Balanced Index Portfolio Fund Investment funds 179, , , ,650 Manulife Growth Index Portfolio Fund Investment funds 12, ,182 28, ,289 Manulife Multi-manager Target Date 2015 Fund Investment funds 1, ,616 1, ,506 Manulife Multi-manager Target Date 2020 Fund Investment funds 4, ,334 2, ,

145 As at December 31 (000 s) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Manulife Multi-manager Target Date 2025 Fund Investment funds 4, ,716 3, ,475 Manulife Multi-manager Target Date 2030 Fund Investment funds 4, ,081 3, ,034 Manulife Multi-manager Target Date 2035 Fund Investment funds 4, ,445 2, ,669 Manulife Multi-manager Target Date 2040 Fund Investment funds 3, ,692 2, ,356 Manulife Multi-manager Target Date 2045 Fund Investment funds 1, ,973 1, ,433 Manulife Multi-manager Target Date 2050 Fund Investment funds 1, ,491 1, ,162 Manulife Multi-manager Target Date 2055 Fund Investment funds Manulife Multi-manager Retirement Fund Investment funds 3, ,355 1, ,345 Manulife Target Date 2015 Index Fund (Manulife) Investment funds Manulife Target Date 2020 Index Fund (Manulife) Investment funds Manulife Target Date 2025 Index Fund (Manulife) Investment funds Manulife Target Date 2030 Index Fund (Manulife) Investment funds Manulife Target Date 2035 Index Fund (Manulife) Investment funds Manulife Target Date 2040 Index Fund (Manulife) Investment funds Manulife Target Date 2045 Index Fund (Manulife) Investment funds Manulife Target Date 2050 Index Fund (Manulife) Investment funds Manulife Target Date 2055 Index Fund (Manulife) Investment funds Manulife Retirement Index Fund (Manulife) Investment funds Manulife MMF Corporate Bond Fund Investment funds 59, ,942 50, ,359 Manulife MMF Monthly Income Fund Investment funds 7, ,700 6, ,083 Manulife MMF Canadian Dividend Fund Investment funds 178, , , ,443 Manulife MMF Global Dividend Fund (SLI) Investment funds 23, ,381 19, ,395 Manulife MMF Global Unconstrained Equity Fund (SLI) Investment funds 102, ,201 74, ,975 Manulife MMF Global Bond Fund Investment funds 1, , Manulife MMF Conservative Income Fund Investment funds Manulife MMF Tactical Income Fund Investment funds

146 POOLED AND INDEXED FUNDS As at December 31 (000 s) Manulife MMF Dividend Income Fund Investment funds Manulife MMF US Dividend Income Fund Investment funds 1, , Manulife MMF Global REIT Unconstrained Fund (SLI) Investment funds s 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 ceased to be actively traded, it is transferred out of Level 1. In such a case, the instrument is reclassified into Level 2, unless the measurement of its fair value requires the use of significant unobservable inputs, in which case it is reclassified as Level 3. Equities, investments in underlying funds and futures contracts are classified as Level 1 since they are actively traded and a reliable price is observable. Short-term investments and bonds (including asset-backed securities) are fair valued using prices received from external pricing providers which generally base the price on quotes received from a number of market participants and therefore, are classified as Level 2. Bonds (refer to Note 3(c)) and mortgage investments (refer to Note 3(a)), for which the inputs are unobservable, are classified as Level 3. Forward foreign currency contracts, total return swap contracts and financing on real estate are classified as Level 2 since they are fair valued using valuation techniques based on observable market data. 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. On July 1, 2015, mortgage investments were transferred from Level 2 to Level 3 due to a credit rating methodology change following the acquisition of the Manulife Canadian Mortgage Fund by the Company (refer to Note 1). There were no other transfers between levels in There were no transfers between levels in (c) Level 3 financial instruments The reconciliation of Level 3 fair value measurements was as follows: Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total As at December 31 (000 s) Balance beginning of year Purchases Sales Net realized gain (loss) Change in unrealized gain (loss) Balance end of year Manulife Asset Management Bond Fund ,794 2,680 (9,939) 77 (547) 47, ,020 32,378 (9,361) 447 1,310 54,794 Manulife Asset Management Long Term Bond Fund , (3,197) 43 (193) 19, ,364 9,807 (7,050) 479 1,749 22,349 Manulife Canadian Bond Index Fund (Manulife Asset Management) ,221 40,205 (8,893) 161 (800) 121, ,581 18,074 (8,954) (2) 5,522 91,221 Manulife Asset Management Diversified Fund , (5,037) 140 (352) 14, ,390 9,571 (3,956) ,735 Manulife Diversified Tri-Plan Fund (Manulife Asset Management) ,622 - (660) 5 (74) 2, ,734 1,663 (915) ,622 Manulife Money Market Fund (Manulife Asset Management) (1) ,319 - (17,280) (39) , (19) 17,319 Manulife Canadian Mortgage Fund ,625 (2) (23,352) (3) (988) 182,285 (1) The net realized gain (loss) and the change in unrealized gain (loss) were reclassified to interest income in the statement of comprehensive income. (2) Purchases comprise of mortgage investments issuance and a transfer of 136,678 from Level 2 to Level 3 on July 1, (3) Sales comprise of mortgage investments repayments. 146

147 The change in unrealized gain (loss) attributable to the Level 3 financial instruments held at the reporting date is included in the realized and change in unrealized gain (loss) on investments and derivatives in the statement of comprehensive income. Some of the Funds hold private bonds for which only single broker quotes are obtained from external parties. The appropriateness of those valuations is reviewed by the Company and a comparison with the previous day s price is done on a daily basis where any significant variance is investigated. Due to the externally generated nature of the valuations used for Level 3 instruments, the Company has limited access to the significant assumptions and data sources used by the external party. Accordingly, no impact of a change to alternative assumptions has been calculated. (d) Financial instruments by category The following table presents the net gain (loss) on derivatives, classified as HFT, included in realized and change in unrealized gain (loss) on investments and derivatives in the statement of comprehensive income : (000 s) Manulife Asset Management Canadian Equity Fund Manulife Canadian Equity Index Fund (Manulife Asset Management) 317 (145) Manulife Capped Canadian Equity Fund (Manulife Asset Management) Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 144 (71) Manulife Asset Management Canadian Small-Cap Equity Fund 32 (1) Manulife Equity Tri-Plan Fund (Manulife Asset Management) 58 (2) Manulife SLI US Equity Fund (29) (2) Manulife US Equity Index Fund (Manulife Asset Management) (944) (61) Manulife Asset Management US Equity Direct Index Registered Fund (679) (124) Manulife Asset Management Hedged US Equity Index Fund 1, Manulife Asset Management Long Term Bond Fund (25) 642 Manulife Asset Management Diversified Fund Manulife Diversified Tri-Plan Fund (Manulife Asset Management) REAL ESTATE INVESTMENTS (a) Changes in real estate investments For the years ended December 31 (000 s) (000 s) Real estate investments, beginning of year 1,479,730 1,265,950 Purchases 173, ,944 Additions-subsequent expenditure Tenant incentives, deferred rent and leasing s 10,716 19,777 Realized and change in unrealized gains (loss) 22,388 25,925 Disposals - (30,036) Real estate investments, end of year 1,686,030 1,479,730 Change in unrealized gain (loss) included in the statement of comprehensive income for real estate investments held at the reporting date 22,388 25,894 Rental income, including chargebacks to tenants, arising from real estate investments during the year ended December 31, 2015 amounted to 155,894 ( ,951). Direct operating expenses arising in respect of such rented properties during the year ended December 31, 2015 amounted to 74,788 ( ,610). (b) Future minimum lease rental receivables The future minimum lease rental receivables, excluding chargebacks to tenants, under non-cancellable operating leases on real estate investments were as follows: As at December 31 (000 s) <1 year 1-5 years >5 years Total , , , , , ,037 97, ,

148 POOLED AND INDEXED FUNDS (c) of real estate investments and fair value hierarchy is determined predominantly by using the discounted cash flow method (supported by market evidence and other valuation methods). The valuation techniques used include both observable and unobservable inputs. Inputs include existing and assumed tenancies, market data from recent comparable transactions, future economic outlook and market risk assumptions, discount rates and terminal capitalization rates. All properties are valued by professional qualified independent appraisers on a quarterly basis. The valuations are performed in a manner consistent with generally accepted appraisal standards in Canada and supported by market evidence. For each property, one full external appraisal is performed annually and, for the other three quarters, an external appraisal update is performed. All appraisal reports are reviewed and approved by the portfolio manager of the Manulife Canadian Pooled Real Estate Fund, MAMPM. All appraisals are based on the highest and best use of the property, which may differ from its current use. None of the properties have a current use different from the highest and best use. As at December 31, 2015 and 2014, real estate investments were classified as Level 3 within the fair value hierarchy. There were no transfers between levels in 2015 and The following were the significant unobservable inputs used to determine the fair value: Unobservable input Description sensitivity Discount rate Terminal capitalization rate The discount rate is derived from market activity across various property types and geographic regions and is a reflection of the expected rate of return to be realized on the investment over the next 10 years. The terminal capitalization rate is derived from market activity across various property types and geographic regions and is a reflection of the expected rate of return to be realized on the investment over the remainder of its life after the 10 year period. An increase (decrease) in the discount rate would decrease (increase) the fair value. An increase (decrease) in the terminal capitalization rate would decrease (increase) the fair value. Range (weighted average) December 31, % % (7.09%) 5.00% % (6.30%) Range (weighted average) December 31, % % (7.24%) 5.50% % (6.44%) 5. FINANCIAL RISKS Investment activities of the Funds expose them to a variety of financial risks: market risk (including price risk, interest rate risk and currency risk), credit risk and liquidity risk. The level of risk depends on each of the Funds investment objectives and the type of securities each Fund invests in. The schedules of portfolio investments present the investments held by the Funds, and group the investments by asset type, geographic region, and/or industry sector. The concentration of risks and 2014 is disclosed in the schedule of portfolio investments of each Fund. The portfolio manager, MAML, manages all Funds except Manulife Canadian Pooled Real Estate Fund (refer to Note 4(c)) and Manulife Canadian Mortgage Fund. For the Manulife Canadian Mortgage Fund, the portfolio manager is the Company. Following a strategic asset allocation, the portfolio managers seek to minimize the potential adverse effects of risks on the Funds performance. Under a fund of funds structure, a Fund invests in one underlying fund, managed by MAML or by Standard Life Investments Limited a company under the common control of the Ultimate Parent until January 30, 2015, or in a mix of underlying funds managed by MAML or the Company. The Company periodically monitors their performance and investment mix. A Fund s direct risks represent those associated with its own investments. A Fund s indirect risks represent the risks associated with the investments held by its underlying funds. For the Funds investing in one or in a mix of underlying funds, the indirect market, credit and concentration risks depend on the investments held by the underlying funds; please refer to the financial statements of the underlying funds for this risk information, which does not form part of these annual financial statements. For Manulife SLI International Equity Fund, the indirect exposure to market risk is presented in these annual financial statements. When direct risks are evaluated to be not significant, they may not be presented. 148

149 (a) Market risk Market risk is the risk that the value of financial instruments will fluctuate as a result of changes in market prices whether caused by factors specific to an individual investment or its issuer, or factors affecting all investments traded in a market or market segment. The portfolio managers manage these risks through diversification of the investment portfolios and a careful selection of investments and other financial instruments, within specified limits. The following sensitivity analyses may differ materially from the actual results. (a)(i) Price risk Price risk is the risk that the fair value of financial instruments will fluctuate as a result of changes in market prices (other than those arising from interest rate risk or currency risk). The maximum exposure to risk resulting from these financial instruments is equivalent to their fair value. The following Funds, unless stated otherwise, were exposed to direct price risk. As at December 31, 2015 and 2014, had the prices of their investments increased or decreased by 10%, with all other variables held constant, net assets attributable to contractholders would have increased or decreased by: As at December 31 (000 s) Manulife Asset Management Canadian Equity Fund 39,267 47,541 Manulife Asset Management Canadian Value Equity Fund 1,484 1,215 Manulife Canadian Equity Index Fund (Manulife Asset Management) 43,476 45,684 Manulife Capped Canadian Equity Fund (Manulife Asset Management) 17,135 19,226 Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 19,659 23,811 Manulife Asset Management Canadian Small-Cap Equity Fund 16,735 17,785 Manulife Equity Tri-Plan Fund (Manulife Asset Management) 5,154 5,829 Manulife SLI US Equity Fund 33,051 28,697 Manulife US Equity Index Fund (Manulife Asset Management) 40,091 36,796 Manulife Asset Management US Equity Direct Index Registered Fund 57,400 48,904 Manulife SLI US Equity Non-Registered Fund Manulife Asset Management Hedged US Equity Index Fund Manulife SLI International Equity Fund (1) 42,015 36,088 Manulife SLI Global Absolute Return Strategies Fund 29,469 24,930 Manulife Standard Life Investments Absolute Return Global Bond Strategies Fund Manulife Asset Management Short Term Bond Fund 2,577 2,722 Manulife Asset Management Long Term Bond Fund Manulife Asset Management Short-Term Liability Government Bond Fund 5,347 2,909 Manulife Asset Management Mid-Term Liability Government Bond Fund 7,737 8,554 Manulife Asset Management Long-Term Liability Government Bond Fund 9,201 11,185 Manulife Asset Management Diversified Fund 58,652 71,667 Manulife Diversified Tri-Plan Fund (Manulife Asset Management) 12,350 13,515 Manulife Small Cap Portfolio Fund (Multi-Manager) Manulife Income Index Portfolio Fund 1,160 2,470 Manulife Balanced Index Portfolio Fund 17,996 19,965 Manulife Growth Index Portfolio Fund 1,218 2,829 Manulife Multi-manager Target Date 2015 Fund Manulife Multi-manager Target Date 2020 Fund Manulife Multi-manager Target Date 2025 Fund Manulife Multi-manager Target Date 2030 Fund Manulife Multi-manager Target Date 2035 Fund Manulife Multi-manager Target Date 2040 Fund Manulife Multi-manager Target Date 2045 Fund Manulife Multi-manager Target Date 2050 Fund Manulife Multi-manager Target Date 2055 Fund 16 8 Manulife Multi-manager Retirement Fund (1) Indirect risk 149

150 POOLED AND INDEXED FUNDS As at December 31 (000 s) Manulife Target Date 2015 Index Fund (Manulife) Manulife Target Date 2020 Index Fund (Manulife) Manulife Target Date 2025 Index Fund (Manulife) Manulife Target Date 2030 Index Fund (Manulife) Manulife Target Date 2035 Index Fund (Manulife) Manulife Target Date 2040 Index Fund (Manulife) Manulife Target Date 2045 Index Fund (Manulife) Manulife Target Date 2050 Index Fund (Manulife) Manulife Target Date 2055 Index Fund (Manulife) 2 1 Manulife Retirement Index Fund (Manulife) Manulife MMF Corporate Bond Fund 5,994 5,036 Manulife MMF Monthly Income Fund Manulife MMF Canadian Dividend Fund 17,823 18,044 Manulife MMF Global Dividend Fund (SLI) 2,338 1,940 Manulife MMF Global Unconstrained Equity Fund (SLI) 10,220 7,498 Manulife MMF Global Bond Fund Manulife MMF Conservative Income Fund Manulife MMF Tactical Income Fund Manulife MMF Dividend Income Fund Manulife MMF US Dividend Income Fund Manulife MMF Global REIT Unconstrained Fund (SLI) (a)(ii) Interest rate risk Interest rate risk arises from the possibility that changes in interest rates will affect future cash flows or the fair value of debt securities, which include bonds, short-term investments, mortgage investments and financing on real estate. The following Funds were, unless otherwise stated, exposed to direct interest rate risk since a significant portion of their investments was interest bearing. The table below summarizes the Funds exposure to interest rate risk by remaining term to maturity. As at December 31, 2015 and 2014, should current interest rates have increased or decreased by 0.5%, and assuming a parallel shift in the yield curve, using the weighted average duration for debt securities, with all other variables remaining constant, the Funds net assets attributable to contractholders would have decreased or increased, respectively, by the amount presented in the column Impact on net assets : As at December 31 (000 s) Remaining term to maturity <1 year 1-5 years 5-10 years years >20 years Total Impact on net assets Manulife Asset Management Canadian Equity Fund , , , ,399 - Manulife Canadian Equity Index Fund (Manulife Asset Management) , , Manulife Capped Canadian Equity Fund (Manulife Asset Management) , , , ,150 - Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) , , Manulife Asset Management Canadian Small-Cap Equity Fund , , , ,

151 As at December 31 (000 s) Remaining term to maturity <1 year 1-5 years 5-10 years years >20 years Total Manulife Equity Tri-Plan Fund (Manulife Asset Management) , , Manulife SLI US Equity Fund , , , ,000 - Manulife US Equity Index Fund (Manulife Asset Management) , , Manulife Asset Management US Equity Direct Index Registered Fund , , Manulife SLI International Equity Fund (1) , ,303 - Manulife Asset Management Bond Fund , , ,882 72, , ,531 28, , ,306 83, , , ,751 26,689 Manulife Asset Management Long Term Bond Fund ,112-73, , , ,743 49, ,200 17,123 35, , , ,054 47,516 Manulife Canadian Bond Index Fund (Manulife Asset Management) ,007 1,641, , , ,830 3,752, , ,359 1,505, , , ,897 3,468, ,512 Manulife Asset Management Real Return Bond Fund ,714 27,122 42,406 80,384 6, ,552 28,050 41,555 81,347 6,444 Manulife Asset Management Diversified Fund ,258 46, ,953 17,589 31, ,835 7, , ,801 47,935 35,604 48, ,212 8,980 Manulife Diversified Tri-Plan Fund (Manulife Asset Management) ,341 10,270 24,163 3,930 6,108 65,812 1, ,465 19,232 8,157 6,412 7,935 69,201 1,504 Manulife Money Market Fund (Manulife Asset Management) (2) , , , , Manulife Canadian Pooled Real Estate Fund , , , , Manulife Canadian Mortgage Fund , ,629 24, ,085 2, ,740 76,417 20, ,886 1,588 (1) Indirect risk (2) All floating rate debt securities are considered as having a maturity of less than one year as the interest rate changes on a periodic basis. Impact on net assets A significant portion of Manulife Canadian Pooled Real Estate Fund s liabilities is included in financing on real estate, which is interest bearing at fixed rates and is recorded at fair value in the statement of financial position. As at December 31, 2015 and 2014, should current interest rates have increased or decreased by 0.5%, and assuming a parallel shift in the yield curve, using remaining duration for financing on real estate, with all other variables remaining constant, the Manulife Canadian Pooled Real Estate Fund s net assets attributable to contractholders would have increased or decreased, respectively, by 936 (2014 1,325). 151

152 POOLED AND INDEXED FUNDS (a)(iii) Currency risk Currency risk is the risk that the value of a financial instrument will fluctuate as a result of changes in foreign exchange rates. The following Funds, unless otherwise stated, were exposed to direct currency risk since they held assets and liabilities denominated in currencies other than the Canadian dollar, the functional currency. Investments are denominated based on the currency in which they are purchased. For the Manulife Asset Management Hedge US Equity Index Fund, the direct risk of the forward foreign currency contracts is not disclosed as it is minimized by the indirect risk of the underlying fund and, the net impact on net assets attributable to contractholders is not significant. The table below summarizes the Funds net exposure to currency risk, including the potential impact on the Funds net assets attributable to contractholders ( Impact on net assets ), as a result of a 5% fluctuation in these currencies relative to the Canadian dollar, all other variables held constant: As at December 31 (expressed in CAD 000 s) Financial Currency instruments Manulife Asset Management Canadian Equity Fund Forward foreign currency contracts Net exposure by currency Impact on net assets Currency Financial instruments Forward foreign currency contracts Net exposure by currency Impact on net assets USD 6,085-6, USD Manulife Canadian Equity Index Fund (Manulife Asset Management) USD USD Manulife Capped Canadian Equity Fund (Manulife Asset Management) USD 2,580-2, USD Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) USD USD Manulife Asset Management Canadian Small-Cap Equity Fund USD 15,556-15, USD Manulife Equity Tri-Plan Fund (Manulife Asset Management) USD 13,278-13, USD 8,630-8, Manulife SLI US Equity Fund USD 332, ,133 16,657 USD 295, ,496 14,775 Manulife US Equity Index Fund (Manulife Asset Management) USD 406, ,807 20,340 USD 368, ,988 18,449 Manulife Asset Management US Equity Direct Index Registered Fund USD 583, ,357 29,168 USD 490, ,326 24,516 Manulife SLI US Equity Non-Registered Fund USD 7,603-7, USD 6,336-6, Manulife SLI International Equity Fund (1) EUR 118, ,947 5,947 EUR 120, ,827 6,041 GBP 104, ,649 5,232 GBP 93,094-93,094 4,655 JPY 82,999-82,999 4,150 JPY 66,205 (494) 65,711 3,286 CHF 38,721-38,721 1,936 HKD 27,079-27,079 1,354 Other currencies 77,145-77,145 3,857 Manulife Asset Management Diversified Fund Other currencies 56,791-56,791 2,840 USD 182, ,034 9,102 USD 210, ,112 10,506 Manulife Diversified Tri-Plan Fund (Manulife Asset Management) USD 41,434-41,434 2,072 USD 33,601-33,601 1,680 (1) Indirect risk (b)(i) Credit risk Credit risk is the risk that a security issuer or counterparty will be unable to pay amounts in full when due. The fair value of debt securities includes consideration of the creditworthiness of the debt issuer or borrower respectively. Debt securities (i.e. bonds and short-term investments) are classified based on long-term ratings from major rating agencies and presented on a basis consistent with Standard & Poor s. 152

153 The Funds credit risk exposure is derived from their holdings in debt securities, forward foreign currency contracts, mortgage investments or other assets. In all cases, the carrying amount represents the maximum exposure to credit risk. The direct credit risk exposure of debt securities by credit rating was as follows: Credit ratings (%) of debt securities as at December 31 AAA AA A BBB Total Manulife Asset Management Canadian Equity Fund Manulife Canadian Equity Index Fund (Manulife Asset Management) Manulife Capped Canadian Equity Fund (Manulife Asset Management) Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) Manulife Asset Management Canadian Small-Cap Equity Fund Manulife Equity Tri-Plan Fund (Manulife Asset Management) Manulife SLI US Equity Fund Manulife US Equity Index Fund (Manulife Asset Management) Manulife Asset Management US Equity Direct Index Registered Fund Manulife Asset Management Bond Fund Manulife Asset Management Long Term Bond Fund Manulife Canadian Bond Index Fund (Manulife Asset Management) Manulife Asset Management Real Return Bond Fund Manulife Asset Management Diversified Fund Manulife Diversified Tri-Plan Fund (Manulife Asset Management)

154 POOLED AND INDEXED FUNDS Credit ratings (%) of debt securities as at December 31 AAA AA A BBB Total Manulife Money Market Fund (Manulife Asset Management) Manulife Canadian Pooled Real Estate Fund) (1) Manulife Canadian Mortgage Fund (1) The Fund was exposed to credit risk through accounts receivable from tenants. The risk was not significant as exposure to any concentration of individual tenants was minimal. Credit rating of mortgage investments in the Manulife Canadian Mortgage Fund are performed internally and presented on a basis consistent with Standard & Poor s. The credit rating methodology of mortgage investments has changed in 2015 following the acquisition of the Fund by the Company (refer to Note 1). The credit risk exposure of mortgage investments by credit rating was as follows: Credit ratings (%) of mortgage investments as at December 31 AAA AA A BBB Total Manulife Canadian Mortgage Fund (b)(ii) Collateral pledged for financing on real estate As at December 31, 2015, the fair value of real estate investments pledged as collateral for financing on real estate in the Manulife Canadian Pooled Real Estate Fund was 165,300 ( ,210). (c) Liquidity risk Liquidity risk is the risk that the Funds may be unable to settle or meet their obligations on time or at a reasonable price. The following paragraph relates to all Funds, with the exception of the Manulife Canadian Pooled Real Estate Fund and the Manulife Canadian Mortgage Fund. The Funds were exposed to liquidity risk through daily cash redemptions of units. The Funds retained cash and short-term investments to maintain liquidity for the purpose of funding redemptions. In addition, the majority of the Funds investments were traded on an active market and could therefore be readily realized. The Manulife Canadian Pooled Real Estate Fund was exposed to liquidity risk through cash redemptions of units since the real estate investments were not actively traded and, to a lesser extent, by the financing on real estate. The Manulife Canadian Mortgage Fund was exposed to liquidity risk through daily cash redemptions of units since the mortgage investments were not actively traded. These Funds retained cash and/or short-term investments to maintain liquidity for the purpose of funding redemptions. However, where cash and short term investments could not support redemption requests in the short term, contractual provisions exist under segregated fund policies to address and mitigate liquidity risks. Units are redeemable on demand at the contractholder s option. All other financial liabilities have a contractual maturity date of less than three months, except for financing on real estate and tenant deposits in the Manulife Canadian Pooled Real Estate Fund. 154

155 The undiscounted cash flows payable by remaining contractual maturity date for financing on real estate and tenant deposits in the Manulife Canadian Pooled Real Estate Fund were as follows: As at December 31 (000 s) <1 year 1-5 years >5 years Total adjustment Financing on real estate ,997 62,744-66,741 (4,930) 61, ,827 59,781 17,155 81,763 (8,386) 73,377 Tenant deposits ,201 4,315 1,694 7,210 n/a 7, ,303 1,956 7,227 n/a 7,227 Total 6. FUND UNITS The Company considers the net assets attributable to contractholders to be the Funds capital. The Funds do not have any specific capital requirements on the subscription and redemption of units, other than certain minimum subscription requirements. The net assets attributable to contractholders per unit is calculated by dividing the value of the net assets attributable to contractholders of each Fund by the number of units of each Fund then outstanding as of the close of each business day. The units of the Funds are sold and redeemable at the current value of net assets attributable to contractholders per unit at the option of the contractholder. The Funds are authorized to issue an unlimited number of units, which rank equally in all respects to a pro rata interest in the net assets attributable to contractholders of each Fund. Changes in units issued are summarized as follows: Manulife Asset Management Canadian Equity Fund Manulife Asset Management Canadian Value Equity Fund Manulife Canadian Equity Index Fund (Manulife Asset Management) Units, beginning of year 396, , , ,083 11,945,692 11,938,272 Units issued for cash 86,960 72, , ,619 3,881,098 6,246,240 Units redeemed (132,945) (130,727) (104,157) (124,923) (3,108,179) (6,238,820) Units, end of year 350, , , ,779 12,718,611 11,945,692 Manulife Capped Canadian Equity Fund (Manulife Asset Management) Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) Manulife Asset Management Canadian Small-Cap Equity Fund Units, beginning of year 7,632,080 10,322,116 9,272,250 9,415,334 2,564,021 2,781,492 Units issued for cash 1,060,828 1,277,729 1,956,735 2,857, , ,948 Units redeemed (1,315,224) (3,967,765) (2,566,216) (3,000,380) (774,204) (1,062,419) Units, end of year 7,377,684 7,632,080 8,662,769 9,272,250 2,429,339 2,564,021 Manulife Equity Tri-Plan Fund (Manulife Asset Management) Manulife SLI US Equity Fund Manulife US Equity Index Fund (Manulife Asset Management) Units, beginning of year 236, ,774 2,207,757 2,605,240 17,722,035 19,552,452 Units issued for cash 17,278 17, , ,343 5,323,485 7,385,094 Units redeemed (44,810) (55,152) (651,001) (912,826) (6,788,327) (9,215,511) Units, end of year 208, ,106 2,039,570 2,207,757 16,257,193 17,722,035 Manulife Asset Management US Equity Direct Index Registered Fund Manulife SLI US Equity Non-Registered Fund Manulife Asset Management Hedged US Equity Index Fund Units, beginning of year 29,803,250 22,966, , , , ,002 Units issued for cash 10,512,518 21,965,569 77,486 71, ,012 75,476 Units redeemed (10,981,797) (15,129,126) (82,369) (96,462) (49,796) (185,664) Units, end of year 29,333,971 29,803, , , , ,

156 POOLED AND INDEXED FUNDS Manulife SLI International Equity Fund Manulife SLI Global Absolute Return Strategies Fund Manulife Standard Life Investments Absolute Return Global Bond Strategies Fund Units, beginning of year 10,331,544 10,822,396 18,989,759 11,555, ,664 - Units issued for cash 2,796,954 2,378,754 7,811,094 10,725,080 5, ,472 Units redeemed (2,998,988) (2,869,606) (5,309,020) (3,290,540) (2,059) (808) Units, end of year 10,129,510 10,331,544 21,491,833 18,989, , ,664 Manulife Asset Management Bond Fund Manulife Asset Management Short Term Bond Fund Manulife Asset Management Long Term Bond Fund Units, beginning of year 1,328,067 1,462,082 2,565, ,172 30,416,585 24,423,116 Units issued for cash 423, , ,725 2,039,755 4,882,263 18,948,372 Units redeemed (391,112) (461,296) (904,156) (328,589) (5,849,704) (12,954,903) Units, end of year 1,360,619 1,328,067 2,355,907 2,565,338 29,449,144 30,416,585 Manulife Asset Management Short- Term Liability Government Bond Fund Manulife Asset Management Mid-Term Liability Government Bond Fund Manulife Asset Management Long- Term Liability Government Bond Fund Units, beginning of year 2,685, ,490 7,702,473 4,964,027 9,884,024 4,789,241 Units issued for cash 2,510,485 1,764,816 2,146,822 3,481,215 1,743,103 6,085,766 Units redeemed (456,948) (68,739) (3,160,411) (742,769) (3,736,408) (990,983) Units, end of year 4,739,104 2,685,567 6,688,884 7,702,473 7,890,719 9,884,024 Manulife Canadian Bond Index Fund (Manulife Asset Management) Manulife Asset Management Real Return Bond Fund Manulife Asset Management Diversified Fund Units, beginning of year 134,470, ,167,286 4,034,964 3,983,390 10,761,694 11,838,841 Units issued for cash 45,107,796 41,180, , ,841 1,187,020 1,569,976 Units redeemed (39,362,007) (34,877,419) (748,293) (651,267) (3,495,471) (2,647,123) Units, end of year 140,216, ,470,515 3,882,536 4,034,964 8,453,243 10,761,694 Manulife Diversified Tri-Plan Fund (Manulife Asset Management) Manulife Money Market Fund (Manulife Asset Management) Manulife Canadian Pooled Real Estate Fund Units, beginning of year 1,391,345 1,585,257 3,241,647 3,303,299 8,872,838 8,471,487 Units issued for cash 86, ,219 3,171,176 2,196,801 2,004,515 1,410,945 Units redeemed (261,422) (339,131) (2,814,416) (2,258,453) (1,270,200) (1,009,594) Units, end of year 1,216,764 1,391,345 3,598,407 3,241,647 9,607,153 8,872,838 Manulife Canadian Mortgage Fund Manulife Small Cap Portfolio Fund (Multi-Manager) Manulife Income Index Portfolio Fund Units, beginning of year 303, , , ,930 1,173,126 1,380,749 Units issued for cash 171,887 70,484 18,091 50, , ,891 Units redeemed (71,140) (60,641) (42,535) (52,092) (1,004,129) (622,514) Units, end of year 404, , , , ,238 1,173,126 Manulife Balanced Index Portfolio Fund Manulife Growth Index Portfolio Fund Manulife Multi-manager Target Date 2015 Fund Units, beginning of year 9,461,583 9,250,052 1,385,732 1,328, , ,231 Units issued for cash 1,454,789 1,462, , ,062 33,283 57,360 Units redeemed (2,756,012) (1,251,340) (1,041,072) (178,591) (29,694) (41,438) Units, end of year 8,160,360 9,461, ,344 1,385, , ,

157 Manulife Multi-manager Target Date 2020 Fund Manulife Multi-manager Target Date 2025 Fund Manulife Multi-manager Target Date 2030 Fund Units, beginning of year 192, , , , , ,861 Units issued for cash 164, , , ,913 80, ,093 Units redeemed (47,966) (130,954) (53,887) (53,563) (19,514) (74,833) Units, end of year 308, , , , , ,121 Manulife Multi-manager Target Date 2035 Fund Manulife Multi-manager Target Date 2040 Fund Manulife Multi-manager Target Date 2045 Fund Units, beginning of year 189, , , ,883 98,904 75,037 Units issued for cash 143, , ,584 75,465 52,147 53,788 Units redeemed (32,668) (58,260) (31,634) (46,840) (21,569) (29,921) Units, end of year 300, , , , ,482 98,904 Manulife Multi-manager Target Date 2050 Fund Manulife Multi-manager Target Date 2055 Fund Manulife Multi-manager Retirement Fund Units, beginning of year 80,302 59,115 6,704 1, ,061 89,847 Units issued for cash 39,894 38,778 8,004 6, ,291 54,112 Units redeemed (22,416) (17,591) (2,492) (359) (72,789) (40,898) Units, end of year 97,780 80,302 12,216 6, , ,061 Manulife Target Date 2015 Index Fund (Manulife) Manulife Target Date 2020 Index Fund (Manulife) Manulife Target Date 2025 Index Fund (Manulife) Units, beginning of year 21,646 26,917 34,028 43,116 61,657 63,796 Units issued for cash 13 3,562 2,055 8,512 9,413 6,558 Units redeemed (7,675) (8,833) (3,364) (17,600) (8,292) (8,697) Units, end of year 13,984 21,646 32,719 34,028 62,778 61,657 Manulife Target Date 2030 Index Fund (Manulife) Manulife Target Date 2035 Index Fund (Manulife) Manulife Target Date 2040 Index Fund (Manulife) Units, beginning of year 32,370 34,739 42,896 39,705 54,942 54,675 Units issued for cash 18,280 9,386 21,023 8,687 9,395 8,136 Units redeemed (6,332) (11,755) (6,085) (5,496) (6,260) (7,869) Units, end of year 44,318 32,370 57,834 42,896 58,077 54,942 Manulife Target Date 2045 Index Fund (Manulife) Manulife Target Date 2050 Index Fund (Manulife) Manulife Target Date 2055 Index Fund (Manulife) Units, beginning of year 18,621 11,418 10,548 5,705 1,014 1,000 Units issued for cash 7,159 8,716 6,048 5, Units redeemed (4,186) (1,513) (1,203) (1,035) (96) (35) Units, end of year 21,594 18,621 15,393 10,548 1,533 1,014 Manulife Retirement Index Fund (Manulife) Manulife MMF Corporate Bond Fund Manulife MMF Monthly Income Fund Units, beginning of year 18,861 20,018 1,871,667 1,704, , ,173 Units issued for cash 59,418 5, , , , ,401 Units redeemed (26,231) (6,307) (442,771) (437,296) (180,524) (137,628) Units, end of year 52,048 18,861 2,174,833 1,871, , ,946 Manulife MMF Canadian Dividend Fund Manulife MMF Global Dividend Fund (SLI) Manulife MMF Global Unconstrained Equity Fund (SLI) Units, beginning of year 4,307,794 4,441,294 1,417, ,212 4,500,272 1,405,760 Units issued for cash 896, , , ,556 1,447,928 3,367,461 Units redeemed (948,750) (1,098,912) (592,597) (266,221) (906,837) (272,949) Units, end of year 4,255,830 4,307,794 1,372,471 1,417,547 5,041,363 4,500,

158 POOLED AND INDEXED FUNDS Manulife MMF Global Bond Fund Manulife MMF Conservative Income Fund Manulife MMF Tactical Income Fund Units, beginning of year 35,241 10,000 10,908 10,000 35,217 10,000 Units issued for cash 89,614 27,292 30,057 3,436 39,926 26,982 Units redeemed (27,859) (2,051) (4,019) (2,528) (2,008) (1,765) Units, end of year 96,996 35,241 36,946 10,908 73,135 35,217 Manulife MMF Dividend Income Fund Manulife MMF US Dividend Income Fund Manulife MMF Global REIT Unconstrained Fund (SLI) Units, beginning of year 33,554 10,000 53,847 10,000 21,946 10,000 Units issued for cash 31,634 39,956 76,891 47,499 91,480 13,173 Units redeemed (26,581) (16,402) (26,367) (3,652) (41,226) (1,227) Units, end of year 38,607 33, ,371 53,847 72,200 21, INVESTMENTS IN STRUCTURED ENTITIES The tables below present detailed information on investments in underlying funds that are deemed significant i.e. when a Fund can exert influence on the underlying fund and holds more than 20% of its net assets. The principal place of business of the underlying funds listed thereafter is Canada. (a) Subsidiaries Each Fund listed below held an interest in underlying funds that is greater than the consolidation thresholds, which therefore deemed the underlying funds as unconsolidated subsidiaries: Funds Underlying Funds % of ownership interest in underlying Funds as at December 31, 2015 Manulife Asset Management Canadian Value Equity Fund Manulife Asset Management Canadian Value Equity Pooled Fund Manulife Asset Management Short Term Bond Fund Manulife Asset Management Short-Term Bond Pooled Fund Manulife Asset Management Short-Term Liability Government Bond Fund Manulife Asset Management Mid-Term Liability Government Bond Fund Manulife Asset Management Long-Term Liability Government Bond Fund Manulife Asset Management Short-Term Liability Government Bond Pooled Fund Manulife Asset Management Mid-Term Liability Government Bond Pooled Fund Manulife Asset Management Long-Term Liability Government Bond Pooled Fund Funds Manulife Asset Management Canadian Value Equity Fund Manulife SLI International Equity Fund Manulife Asset Management Short Term Bond Fund Manulife Asset Management Long Term Bond Fund Manulife Asset Management Short-Term Liability Government Bond Fund Manulife Asset Management Mid-Term Liability Government Bond Fund Manulife Asset Management Long-Term Liability Government Bond Fund % of ownership interest in underlying Funds as at Underlying Funds December 31, 2014 Manulife Asset Management Canadian Value Equity Pooled Fund (formerly SLI Canadian Value Equity Pooled Fund) Manulife International Stock Fund UT (formerly The Standard Life Global Fund) Manulife Asset Management Short-Term Bond Pooled Fund (formerly SLI Short-Term Bond Pooled Fund) Manulife Asset Management Long-Term Bond Pooled Fund (formerly SLI Long-Term Bond Pooled Fund) Manulife Asset Management Short-Term Liability Government Bond Pooled Fund (formerly SLI Short-Term Liability Government Bond Pooled Fund) Manulife Asset Management Mid-Term Liability Government Bond Pooled Fund (formerly SLI Mid-Term Liability Government Bond Pooled Fund) Manulife Asset Management Long-Term Liability Government Bond Pooled Fund (formerly SLI Long-Term Liability Government Bond Pooled Fund)

159 (b) Associates Each Fund listed below held between 20% and the consolidation thresholds in the following funds, which therefore deemed the underlying funds as associates: Fund Manulife Balanced Index Portfolio Fund % of ownership interest in underlying Funds as at Underlying Funds December 31, 2015 Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) Funds Manulife Asset Management Diversified Fund Manulife Balanced Index Portfolio Fund Manulife MMF Global Unconstrained Equity Fund (SLI) % of ownership interest in underlying Funds as at Underlying Funds December 31, 2014 Manulife International Stock Fund UT (formerly The Standard Life Global Fund) Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) (formerly Standard Life Canadian Equity Capped Index Fund (SLI)) Manulife Global Equity Unconstrained Fund (formerly Standard Life Global Equity Fund) RELATED PARTY TRANSACTIONS (a) Management fees The Company charges management fees directly to plan sponsors outside the Funds. They are deducted from the initial proceeds on the issue of units or charged through the redemption of units. (b) Operating expenses The Funds are responsible for paying their operating expenses, which shall include, but are not limited to appraisal fees, custodian fees, audit fees, consulting fees, interest, other operating expenses and applicable taxes. The outstanding accrued operating expenses payable to the Company are included in accrued expenses in the statement of financial position of the Funds. (c) Custodian fees MTSL is the custodian of the Funds. During the year, the Funds paid custodian fees to MTSL, which are presented as custodian fees in the statement of comprehensive income. (d) Related party investments The Company or other related party investment funds may inject money into the Funds for seed money or investment purposes. Such money could be reimbursed when the Fund no longer requires the seed money to operate effectively. The investments in the Funds from related parties were as follows: (000 s) as at December 31 Manulife Canadian Equity Index Fund (Manulife Asset Management) - 1,117 Manulife Canadian Equity Capped Index Fund (Manulife Asset Management) 160, ,585 Manulife Asset Management Canadian Small-Cap Equity Fund 2,449 3,086 Manulife US Equity Index Fund (Manulife Asset Management) 149, ,129 Manulife Asset Management US Equity Direct Index Registered Fund 8,461 5,135 Manulife SLI International Equity Fund 39,250 32,530 Manulife SLI Global Absolute Return Strategies Fund 16,579 40,914 Manulife Standard Life Investments Absolute Return Global Bond Strategies Fund 1,030 1,000 Manulife Asset Management Long Term Bond Fund 4,905 3,232 Manulife Asset Management Short-Term Liability Government Bond Fund 3,598 3,

160 POOLED AND INDEXED FUNDS Manulife Canadian Bond Index Fund (Manulife Asset Management) 161, ,789 Manulife Money Market Fund (Manulife Asset Management) 1,166 2,473 Manulife Canadian Pooled Real Estate Fund 39,261 18,571 Manulife Canadian Mortgage Fund 14,504 14,037 Manulife Multi-manager Target Date 2055 Fund Manulife Target Date 2015 Index Fund (Manulife) Manulife Target Date 2020 Index Fund (Manulife) Manulife Target Date 2025 Index Fund (Manulife) Manulife Target Date 2030 Index Fund (Manulife) Manulife Target Date 2035 Index Fund (Manulife) Manulife Target Date 2040 Index Fund (Manulife) Manulife Target Date 2045 Index Fund (Manulife) Manulife Target Date 2050 Index Fund (Manulife) Manulife Target Date 2055 Index Fund (Manulife) Manulife Retirement Index Fund (Manulife) Manulife MMF Corporate Bond Fund 3,472 2,245 Manulife MMF Global Bond Fund Manulife MMF Conservative Income Fund Manulife MMF Tactical Income Fund Manulife MMF Dividend Income Fund Manulife MMF US Dividend Income Fund Manulife MMF Global REIT Unconstrained Fund (SLI) All underlying funds are related parties with the exception of SLI Global SICAV Global Absolute Return Strategies Fund and SLI Global SICAV Absolute Return Global Bond Strategies Fund effective February 2, 2015 (refer to Note 1). Please refer to each Funds schedule of portfolio investments for the details of the Funds holdings in related parties. 9. CONTRACTUAL COMMITMENTS (000 s) as at December 31 In the normal course of business, various contractual commitments are outstanding which are not reflected in the annual financial statements. As at December 31, 2015 and 2014, outstanding contractual commitments were as follows: As at December 31 (000 s) <1 year 1-5 years Total Manulife Canadian Pooled Real Estate Fund Capital commitments ,556 3,774 10, ,433 2,879 9,312 Other commitments ,630-10, ,759-9,759 Manulife Canadian Mortgage Fund Commitments to extend credit ,000-2, ,375-6,

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