Audited Annual Report for the year ended 30 June 2015

Société d'investissement à Capital Variable Audited Annual Report for the year ended 30 June 2015 No subscription can be received on the basis of financial reports. Subscriptions are only valid if made on the basis of the current prospectus, accompanied by the latest annual report and semi-annual report if published thereafter. SICAV R.C.S Luxembourg B 26 141

Contents Directors and Conducting Persons... 1 Management and Administration... 2 Directors Report... 4 Audit Report... 6 Statement of Net Assets... 8 Statement of Changes in Net Assets... 18 Statement of Changes in Shares... 28 Statement of Operations... 36 Statistical Information... 46 Industrial Composition of Portfolios as a Percentage of Net Asset Value (Unaudited)... 75 Statement of Movements in Portfolio Holdings (Unaudited)... 82 Portfolio of Investments... 89 American Growth Fund... 89 Asia Total Return Fund... 93 Asia Value Dividend Equity Fund... 102 Asian Equity Fund... 109 Asian Small Cap Equity Fund... 115 China Value Fund... 121 Dragon Growth Fund... 127 Emerging Eastern Europe Fund... 131 European Growth Fund... 135 Global Contrarian Fund... 140 Global Property Fund... 145 Global Resources Fund... 150 Greater China Opportunities Fund... 154 Healthcare Fund... 159 India Equity Fund... 162 International Growth Fund... 166 Japanese Growth Fund... 171 Latin America Equity Fund... 175 Russia Equity Fund... 179 Strategic Income Fund... 183 Taiwan Equity Fund... 197 Turkey Equity Fund... 201 U.S. Bond Fund... 204 U.S. Small Cap Equity Fund... 223 U.S. Special Opportunities Fund... 227 U.S. Treasury Inflation-Protected Securities Fund... 237 Notes to the Financial Statements... 242 Information for Shareholders... 271

DIRECTORS and Conducting Persons DIRECTORS Paul Smith (Chairman) CFA Institute 23rd Floor, Man Yee Building 68 Des Voeux Road Central Hong Kong SAR Clive Anderson 51 Bras Basah Road #09-00 Manulife Centre Singapore 189554 (from 17 October 2014 until 13 February 2015) Robert A. Cook 48th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR (until 5 May 2015) Donna Cotter 16th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR (until 10 July 2015) Christakis Partassides GFM Holdings (Cyprus) Limited 2nd Floor, Elenion Building, 5 Themistocles Dervis Str. CY -1066 Nicosia Cyprus Yves Wagner 19, rue de Bitbourg L -1273 Luxembourg Grand Duchy of Luxembourg Philip Witherington 48th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR (from 18 February 2015) Steven Yeo 48th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR (from 24 June 2015) CONDUCTING PERSONS John Li How Cheong 19, rue de Bitbourg L -1273 Luxembourg Grand Duchy of Luxembourg Isaac Cheuk Pang Wong 16th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR (until 22 July 2014) Donna Cotter 16th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR (from 22 July 2014 until 10 July 2015) Yves Wagner 19, rue de Bitbourg L -1273 Luxembourg Grand Duchy of Luxembourg Gianni Fiacco 47th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR (from 10 July 2015) Gianni Fiacco 47th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR (from 10 July 2015) 1 MANULIFE GLOBAL FUND

MANAGEMENT AND ADMINISTRATION Registered Office 31, Z.A. Bourmicht L - 8070 Bertrange Grand Duchy of Luxembourg R.C.S. Luxembourg B26141 General Adviser and Distributor Manulife Asset Management International Holdings Limited Manulife Place Bishop s Court Hill Collymore Rock, St. Michael Barbados Custodian, Administrator, Registrar and Paying Agent Citibank International Limited, Luxembourg Branch* 31, Z.A. Bourmicht L -8070 Bertrange Grand Duchy of Luxembourg Tel: (352) 45 14 14 1 Fax: (352) 45 14 14 332 Legal Advisers Luxembourg Linklaters LLP Avenue J.F. Kennedy 35 L -1855 Luxembourg Grand Duchy of Luxembourg Hong Kong Dechert LLP 27th Floor, Henley Building 5 Queen s Road Central Hong Kong SAR Investment Managers Charlemagne Capital (UK) Limited 39, St. James Street London SW1A 1JD United Kingdom (Investment Manager of the Emerging Eastern Europe Fund, Latin America Equity Fund, Russia Equity Fund and Turkey Equity Fund) Manulife Asset Management (Hong Kong) Limited 47th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR (Investment Manager of the Asia Total Return Fund, Asian Equity Fund, Asian Small Cap Equity Fund, Dragon Growth Fund, Global Resources Fund (until 31 October 2014), Greater China Opportunities Fund, India Equity Fund, Japanese Growth Fund and Taiwan Equity Fund) Manulife Asset Management (Europe) Limited 10 King William Street London EC4N 7TW United Kingdom (Investment Manager of the European Growth Fund and International Growth Fund) Hong Kong Distributor Manulife Asset Management (Hong Kong) Limited 47th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR Tel: (852) 2510 3388 Fax: (852) 2810 9510 * With effect from 31 October 2014, Citibank International plc (Luxembourg Branch) changed its name to Citibank International Limited, Luxembourg Branch. MANULIFE GLOBAL FUND 2

MANAGEMENT AND ADMINISTRATION Manulife Asset Management (US) LLC 101 Huntington Avenue Boston MA 02199 United States of America (Investment Manager of the American Growth Fund, Global Contrarian Fund, Global Property Fund, Healthcare Fund, Strategic Income Fund, U.S. Bond Fund, U.S. Small Cap Equity Fund, U.S. Special Opportunities Fund and U.S. Treasury Inflation- Protected Securities Fund and Global Resources Fund from 1 November 2014) Sensible Asset Management Limited 9th Floor, Nexxus Building 41 Connaught Road Central Hong Kong SAR (Investment Manager of the Asia Value Dividend Equity Fund) Value Partners Limited 9th Floor, Nexxus Building 41 Connaught Road Central Hong Kong SAR (Investment Manager of the China Value Fund) Sub-Investment Managers Amundi S.A. (successor entity to Société Générale Gestion) 90 boulevard Pasteur 75015 Paris France (Sub-Investment Manager of the Global Resources Fund until 31 October 2014) Investment Advisers Kotak Mahindra (UK) Limited Farringdon Place 20 Farringdon Road London EC1M 3AP United Kingdom (Investment Adviser to the Investment Manager of the India Equity Fund) Manulife Asset Management (Japan) Limited 15th Floor Marunouchi Trust Tower North Building 1-8-1 Marunouchi Chiyoda-ku Tokyo 100-0005 (Investment Adviser to the Investment Manager of the Japanese Growth Fund) Auditor PricewaterhouseCoopers, Société coopérative 2 Rue Gerhard Mercator B.P. 1443, L -1014 Luxembourg Grand Duchy of Luxembourg Hong Kong Representative Citibank N.A. Hong Kong Branch 50th Floor, Citibank Tower Citibank Plaza 3, Garden Road Central Hong Kong SAR To the Shareholders of Manulife Global Fund Schroder Investment Management (Hong Kong) Limited Suite 3301, Level 33 Two Pacific Place 88 Queensway Hong Kong SAR Value Partners Limited 9th Floor, Nexxus Building 41 Connaught Road Central Hong Kong SAR (Sub-Investment Manager of the Asia Value Dividend Equity Fund) 3 MANULIFE GLOBAL FUND

DIRECTORS REPORT Performance and growth of assets During the year under review, the US economy continued to improve as the US Federal Reserve (the Fed) ended its quantitative easing program in October 2014 while economic data continued to suggest that the Fed was on course to normalise monetary policy. In Europe, the European Central Bank commenced quantitative easing measures in March 2015, pledging to buy 60 billion-euro-a-month of bonds through to September 2016. Economic data towards the end of the period as was largely positive, first quarter 2015 GDP growth improved slightly while the manufacturing purchasing managers index (PMI) increased to 52.5 in June 2015. However concerns over a possible Greek exit from the eurozone weighed on investor sentiment. Chinese and Hong Kong equity markets made strong gains despite concerns over Chinese economic growth, as GDP growth slowed to 7% in the second quarter of 2015. China s official manufacturing purchasing managers index (PMI) fell to 49.8 in January, the lowest reading in two and a half years before rising to 50.2 in May and signalling a minor expansion in the manufacturing sector. Manulife Global Fund s total assets under management increased 4% to US$3.58 billion during the twelve-month period ended 30 June 2015. During the year, equity markets performed relatively better compared to bond markets. In terms of subfunds performance, the China Value Fund and Dragon Growth Fund posted returns in excess of 20% while the Healthcare Fund posted returns of over 18%. The Greater China Opportunities Fund and the Indian Equity Fund posted returns of over 10%. Year in review As the global economy improved, equities generally outperformed bonds as the MSCI World Index increased returned 1.97% in US dollar terms during the twelve-month period ended 30 June 2015. US stocks as measured by S&P 500 Index returned 7.41%, while bonds, as measured by Barclays Capital US Aggregate Total Return Index were up by 1.86%. Emerging market equities generally underperformed developed market equities, as the MSCI Emerging Markets Index returned -4.89% in US dollars. Yields on 10-year US Treasury bonds fell from 2.53% to 2.35%. The euro depreciated against the US dollar by -18.59%, while sterling depreciated by -8.15%. The majority of sub-funds recorded positive returns over the year. US equities continued to perform well, on the back of a strengthening economy with stronger job data, retail sales and consumer confidence. However investor sentiment was tempered on concerns over a stronger US dollar and its impact on corporate earnings. In Europe, strong local market gains were offset by a sharply devalued euro. The recovery s continued fragility, coupled with uncertainty about Greek debt negotiations, weighed on equity performance. Chinese equity markets rose significantly over the period, buoyed by interest rate cuts and further stimulus measures from the People s Bank of China (PBoC). The PBoC cut interest rates four times over the period and cut reserve requirement ratios for banks. The Chinese government also revealed further details for a modern Silk Road under the One Belt, One Road plan to increase infrastructure investment across Asia, Africa and Europe. MANULIFE GLOBAL FUND 4

DIRECTORS REPORT Outlook The global macro environment is expected to remain positive, with modest economic growth led by the US. Inflation worldwide is likely to remain subdued while interest rates are anticipated to stay at low levels in developed markets. However, the US may look to gradually raise interest rates in the latter half of 2015. Over the short term, equity volatility is expected to increase given the uncertainty on the timing of the first interest rate hike by the US Federal Reserve and some downside growth risks in China, Asia and emerging market economies. However, the medium to longer term outlook remains positive. The Fed highlighted that the US labour market has continued to improve with solid job gains but inflation continued to run below target due to declining energy prices. This may support a rate hike in the US in the fourth quarter of 2015. In China, second quarter 2015 GDP growth remained at 7% while China is expected to benefit from the better external demand from the developed markets in the coming months, with the official manufacturing PMI remaining steady at 50.2 in June 2015. The Board of Directors is pleased to confirm that effective 1 October 2015, International Growth Fund will change its name to the Global Equity Fund and will be managed by the Manulife Asset Management (US) LLC, which is replacing Manulife Asset Management (Europe) Limited. In respect of the Taiwan Equity Fund, Schroder Investment Management (Hong Kong) Limited will cease to act as the sub investment manager while Manulife Asset Management (Taiwan) Co., Ltd will be appointed as the investment adviser. The Board of Directors will continue to monitor the investment performance of the sub-funds to safeguard the interests of the shareholders. The twenty-sixth Annual General Meeting will be held on 16 October 2015. The Board of Directors 15 September 2015 Note: The figures in this report are historical and not necessarily indicative of future performance. The global risk exposure is disclosed in note 8. 5 MANULIFE GLOBAL FUND

AUDIT REPORT To the Shareholders of Manulife Global Fund We have audited the accompanying financial statements of Manulife Global Fund and of each of its subfunds, which comprise the statement of net assets and the portfolio of investments as at 30 June 2015 and the statement of operations and the statement of changes in net assets for the year then ended, and a summary of significant accounting policies and other explanatory notes to the financial statements. Responsibility of the Board of Directors of the Company for the financial statements The Board of Directors of the Company is responsible for the preparation and fair presentation of these financial statements in accordance with Luxembourg legal and regulatory requirements relating to the preparation of the financial statements and for such internal control as the Board of Directors of the Company determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Responsibility of the Réviseur d entreprises agréé Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing as adopted for Luxembourg by the Commission de Surveillance du Secteur Financier. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the judgment of the Réviseur d entreprises agréé, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the Réviseur d entreprises agréé considers internal control relevant to the entity s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors of the Company, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. PricewaterhouseCoopers, Société coopérative, 2 Rue Gerhard Mercator, B.P. 1443, L -1014 Luxembourg T: +352 494848 1, F:+352 494848 2900, www.pwc.lu Cabinet de révision agréé. Expert-comptable (autorisation gouvernementale n 10028256) R.C.S. Luxembourg B 65 477 - TVA LU25482518 MANULIFE GLOBAL FUND 6

AUDIT REPORT Opinion In our opinion, the financial statements give a true and fair view of the financial position of Manulife Global Fund and of each of its sub-funds as of 30 June 2015, and of the results of their operations and changes in their net assets for the year then ended in accordance with Luxembourg legal and regulatory requirements relating to the preparation of the financial statements. Other matters Supplementary information included in the annual report has been reviewed in the context of our mandate but has not been subject to specific audit procedures carried out in accordance with the standards described above. Consequently, we express no opinion on such information. However, we have no observation to make concerning such information in the context of the financial statements taken as a whole. PricewaterhouseCoopers, Société coopérative Luxembourg, 15 September 2015 Represented by Valérie Arnold 7 MANULIFE GLOBAL FUND

STATEMENT OF NET ASSETS as at 30 June 2015 (expressed in United States Dollars) American Growth Fund Asia Total Return Fund Securities portfolio at cost 167,217,520 89,116,666 15,298,568 98,086,922 351,458,892 874,076,331 Unrealised appreciation/(depreciation) 55,260,978 (3,649,725) 3,357,388 9,631,716 43,898,722 233,159,034 Securities portfolio at market value (Note 2.2) 222,478,498 85,466,941 18,655,956 107,718,638 395,357,614 1,107,235,365 Options purchased at market value Cash at bank 2,820,900 5,717,468 946,017 2,694,758 2,324,311 14,229,658 Interest and dividends receivable, net 172,661 1,230,778 167,273 609,520 1,244,405 11,735,370 Unrealised appreciation on forward foreign exchange contracts (Note 2.6, 7) 42,570 Unrealised appreciation on future contracts (Note 2.5, 7) 22,188 Amounts receivable on sales of securities 63,597 3,638,407 42,197,190 Amounts receivable on subscriptions 1,222,757 98,862 168,900 298,595 3,218,069 5,320,081 Tax reclaim 6,550 Other assets Formation Expenses (Note 2.8) 1,624 7,776 497 2,169 1,369 Total Assets 226,702,990 92,586,583 20,001,743 114,960,415 444,343,758 1,138,521,843 Bank overdrafts (182) (30,698) (810,457) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (8,773) Amounts payable on purchases of securities (69,894) (2,160,921) (7,145,965) (578,175) Amounts payable on redemptions (1,200,966) (99,421) (189,004) (440,075) (1,891,658) (4,707,655) Management fees (Note 3.1) (544,136) (142,916) (516,160) (266,178) (1,019,394) (2,768,195) Other liabilities (51,050) (14,690) (5,717) (28,307) (79,236) (249,156) Total Liabilities (1,796,334) (257,027) (811,473) (2,895,481) (10,955,483) (8,303,181) Net Assets 224,906,656 92,329,556 19,190,270 112,064,934 433,388,275 1,130,218,662 Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Number of shares outstanding: Class A 6,888,537 24,451,712 112,168,827 Class AA 3,171,325 128,500 9,952,857 7,125,242 80,376,809 8,640,678 Class AA (HKD) 1,870 461,705 Class AA (HKD) Inc 55,363 Class AA Inc 11,986,972 647,958 Class HA 50,000 53,366 50,027 50,123 Class HC 50,000 52,660 50,000 50,000 Class HI 50,000 53,992 50,232 453,714 Class I 8,068,798 35,052,756 16,027,634 143,253,663 Class I2 Class I3 619,199 401,900 Class J 42,414,799 Class S Class S Hedged Class T Net asset value per share: Class A 30.0107 3.4164 9.8313 Class AA 1.7049 0.9937 1.8544 1.0993 2.3928 3.0792 Class AA (HKD) 10.5950* 9.6801* Class AA (HKD) Inc 9.9356* Class AA Inc 0.9456 1.1325 Class HA 1.4251 0.9389 1.4001 1.5047 Class HC 1.4133 0.9384 1.3893 1.4959 Class HI 1.4425 0.9395 1.4155 1.5252 Class I 1.4791 1.1122 1.2669 1.6773 Class I2 Class I3 0.9994 0.9668 Class J 0.9822 Class S Class S Hedged Class T * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 8

STATEMENT OF NET ASSETS (continued) as at 30 June 2015 (expressed in United States Dollars) Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Property Fund Global Resources Fund Securities portfolio at cost 126,269,816 114,627,116 94,444,999 22,475,499 11,869,450 40,321,136 Unrealised appreciation/(depreciation) 23,646,249 (7,998,052) 2,543,295 (517,175) 4,618,383 (6,479,098) Securities portfolio at market value (Note 2.2) 149,916,065 106,629,064 96,988,294 21,958,324 16,487,833 33,842,038 Options purchased at market value Cash at bank 2,784,670 3,400,338 54,650 465,530 293,449 158,900 Interest and dividends receivable, net 1,603,663 158,326 150,519 42,004 39,197 37,305 Unrealised appreciation on forward foreign exchange contracts (Note 2.6, 7) Unrealised appreciation on future contracts (Note 2.5, 7) Amounts receivable on sales of securities 392,807 Amounts receivable on subscriptions 2,207,436 471,674 758,314 90,453 166,825 134,435 Tax reclaim 2,879 59,905 1,149 3,160 Other assets Formation Expenses (Note 2.8) 4,978 Total Assets 156,511,834 110,662,281 98,404,489 22,562,438 16,987,304 34,175,838 Bank overdrafts (100,259) (11) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) Amounts payable on purchases of securities (128,219) Amounts payable on redemptions (1,162,327) (680,247) (402,309) (227,304) (24,354) (350,599) Management fees (Note 3.1) (385,597) (273,633) (238,057) (62,564) (47,454) (100,014) Other liabilities (36,843) (42,830) (25,665) (10,297) (5,179) (9,419) Total Liabilities (1,584,767) (996,710) (666,031) (400,424) (205,217) (460,032) Net Assets 154,927,067 109,665,571 97,738,458 22,162,014 16,782,087 33,715,806 Number of shares outstanding: Class A 45,553,691 31,554,087 7,841,983 Class AA 3,175,020 7,731,749 22,466,028 16,789,166 43,700,128 Class AA (HKD) 35,793,624 24,155 Class AA (HKD) Inc Class AA Inc Class HA 50,000 Class HC 50,000 Class HI 50,057 Class I 4,718,603 Class I2 50,000 Class I3 415,114 627,790 Class J Class S 1,149 Class S Hedged Class T Net asset value per share: Class A 2.2818 3.3315 11.0119 Class AA 1.4313 0.7966 0.9496 0.9978 0.7715 Class AA (HKD) 11.0415* 9.3715* Class AA (HKD) Inc Class AA Inc Class HA 1.0367 Class HC 1.0281 Class HI 1.0484 Class I 1.0213 Class I2 1.1420 Class I3 0.9768 0.9779 Class J Class S 1.0281** Class S Hedged Class T * Expressed in Hong Kong Dollars ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements. 9 MANULIFE GLOBAL FUND

STATEMENT OF NET ASSETS (continued) as at 30 June 2015 (expressed in United States Dollars) Greater China Opportunities Fund Healthcare Fund India Equity Fund International Growth Fund Japanese Growth Fund Latin America Equity Fund Securities portfolio at cost 16,102,956 242,901,530 172,310,046 14,537,544 37,393,333 62,309,128 Unrealised appreciation/(depreciation) 2,386,078 52,121,219 23,351,091 2,944,867 1,371,579 (2,792,715) Securities portfolio at market value (Note 2.2) 18,489,034 295,022,749 195,661,137 17,482,411 38,764,912 59,516,413 Options purchased at market value Cash at bank 386,372 39 3,345,123 203,104 365,248 828,914 Interest and dividends receivable, net 191,141 295,927 369,523 20,266 26,881 137,177 Unrealised appreciation on forward foreign exchange contracts (Note 2.6, 7) Unrealised appreciation on future contracts (Note 2.5, 7) Amounts receivable on sales of securities 65,369 2,039,467 181,217 Amounts receivable on subscriptions 44,118 4,313,379 1,087,451 535,189 418,027 340,321 Tax reclaim 5,107 2,583 Other assets Formation Expenses (Note 2.8) 33,565 Total Assets 19,209,599 299,637,201 202,502,701 18,243,553 39,756,285 60,822,825 Bank overdrafts (897,346) (41,989) (5,417) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) Amounts payable on purchases of securities (1,755,574) (90,549) (449,462) Amounts payable on redemptions (455,477) (2,174,684) (2,293,252) (62,895) (413,568) (634,181) Management fees (Note 3.1) (42,431) (785,369) (516,380) (44,133) (93,247) (171,381) Other liabilities (3,653) (69,556) (62,547) (10,313) (15,476) (17,933) Total Liabilities (501,561) (3,926,955) (4,669,742) (213,307) (971,753) (823,495) Net Assets 18,708,038 295,710,246 197,832,959 18,030,246 38,784,532 59,999,330 Number of shares outstanding: Class A 2,728,294 9,790,905 Class AA 2,496,826 147,944,325 133,163,881 4,450,975 4,131,004 69,129,647 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I 6,351,712 Class I2 11,893,449 Class I3 700,060 710,936 457,039 Class J Class S Class S Hedged Class T Net asset value per share: Class A 4.8079 3.5307 Class AA 1.1283 1.9940 1.3977 1.1038 0.9080 0.8679 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I 2.3938 Class I2 0.9844 Class I3 0.9800 1.0024 1.0170 Class J Class S Class S Hedged Class T The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 10

STATEMENT OF NET ASSETS (continued) as at 30 June 2015 (expressed in United States Dollars) Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund U.S. Small Cap Equity Fund Securities portfolio at cost 115,432,298 60,238,503 26,096,951 45,996,833 143,257,323 24,931,200 Unrealised appreciation/(depreciation) (15,728,246) (2,439,127) 5,132,105 (5,438,353) (694,718) 3,101,589 Securities portfolio at market value (Note 2.2) 99,704,052 57,799,376 31,229,056 40,558,480 142,562,605 28,032,789 Options purchased at market value 15,625 Cash at bank 2,009,130 644,840 917,163 289,805 4,544,246 625,511 Interest and dividends receivable, net 359,621 546,754 213,953 42,061 1,177,654 19,333 Unrealised appreciation on forward foreign exchange contracts (Note 2.6, 7) 758,735 Unrealised appreciation on future contracts (Note 2.5, 7) Amounts receivable on sales of securities 416,921 899,727 199,878 183,900 Amounts receivable on subscriptions 701,034 67,301 810,264 357,968 715,493 113,461 Tax reclaim 3,130 Other assets 5,804 Formation Expenses (Note 2.8) 4,169 813 940 Total Assets 102,776,967 59,836,800 33,587,357 42,148,041 149,206,493 28,975,934 Bank overdrafts (1,402,398) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) Amounts payable on purchases of securities (466,981) (297,079) (576,434) (193,966) Amounts payable on redemptions (693,090) (330,258) (874,676) (1,219,877) (308,668) (265,711) Management fees (Note 3.1) (298,153) (120,500) (89,938) (114,675) (311,181) (77,204) Other liabilities (32,631) (18,807) (9,763) (12,137) (33,661) (8,434) Total Liabilities (1,023,874) (2,338,944) (1,271,456) (1,346,689) (1,229,944) (545,315) Net Assets 101,753,093 57,497,856 32,315,901 40,801,352 147,976,549 28,430,619 Number of shares outstanding: Class A Class AA 226,397,713 29,295,254 18,809,293 51,547,433 108,027,842 23,304,506 Class AA (HKD) 9,779 Class AA (HKD) Inc 93,651 Class AA Inc 1,934,170 Class HA 53,753 54,711 50,000 Class HC 53,042 53,985 50,000 Class HI 54,394 55,357 50,000 Class I 13,581,746 Class I2 1,020,129 Class I3 1,550,545 621,340 Class J Class S Class S Hedged 35,991,913 Class T Net asset value per share: Class A Class AA 0.4494 1.0788 1.7181 0.7915 1.2082 1.1847 Class AA (HKD) 9.8928* Class AA (HKD) Inc 9.8002* Class AA Inc 0.9859 Class HA 0.9468 0.9458 1.1988 Class HC 0.9463 0.9453 1.1889 Class HI 0.9471 0.9462 1.2136 Class I 1.0108 Class I2 1.0162 Class I3 0.9928 1.0344 Class J Class S Class S Hedged 0.9238** Class T * Expressed in Hong Kong Dollars ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements. 11 MANULIFE GLOBAL FUND

STATEMENT OF NET ASSETS (continued) as at 30 June 2015 (expressed in United States Dollars) U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Combined for the year ended 30 June 2015 Securities portfolio at cost 84,775,717 8,455,370 3,060,001,647 Unrealised appreciation/(depreciation) (5,467,056) (93,289) 415,226,739 Securities portfolio at market value (Note 2.2) 79,308,661 8,362,081 3,475,228,386 Options purchased at market value 15,625 Cash at bank 4,414,693 152,944 54,617,781 Interest and dividends receivable, net 1,354,189 31,852 21,977,353 Unrealised appreciation on forward foreign exchange contracts (Note 2.6, 7) 801,305 Unrealised appreciation on future contracts (Note 2.5, 7) 22,188 Amounts receivable on sales of securities 1,055,874 51,334,354 Amounts receivable on subscriptions 363,560 41,338 24,065,305 Tax reclaim 84,463 Other assets 8,126 13,930 Formation Expenses (Note 2.8) 57,900 Total Assets 86,505,103 8,588,215 3,628,218,590 Bank overdrafts (3,288,757) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (8,773) Amounts payable on purchases of securities (109,439) (14,022,658) Amounts payable on redemptions (120,681) (187,457) (21,410,394) Management fees (Note 3.1) (170,270) (17,208) (9,216,368) Other liabilities (29,825) (3,626) (886,751) Total Liabilities (430,215) (208,291) (48,833,701) Net Assets 86,074,888 8,379,924 3,579,384,889 Number of shares outstanding: Class A Class AA 76,064,369 6,530,561 Class AA (HKD) Class AA (HKD) Inc Class AA Inc 11,816,677 Class HA Class HC Class HI Class I 5,451,939 Class I2 Class I3 Class J Class S Class S Hedged Class T 546,639 Net asset value per share: Class A Class AA 0.9151 1.2832 Class AA (HKD) Class AA (HKD) Inc Class AA Inc 0.9097 Class HA Class HC Class HI Class I 0.9439 Class I2 Class I3 Class J Class S Class S Hedged Class T 1.0460 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 12

STATEMENT OF NET ASSETS as at 30 June 2014 (expressed in United States Dollars) American Growth Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Securities portfolio at cost 177,294,249 54,043,869 13,484,791 105,083,946 379,325,506 836,180,872 Unrealised appreciation 60,036,867 461,622 1,911,445 7,402,872 49,290,642 87,866,125 Securities portfolio at market value (Note 2.2) 237,331,116 54,505,491 15,396,236 112,486,818 428,616,148 924,046,997 Cash at bank 2,479,882 2,368,355 98,245 1,110,316 1,924,133 22,819,254 Interest and dividends receivable, net 151,852 771,488 108,532 353,270 805,593 4,918,095 Unrealised appreciation on futures contracts (Notes 2.5, 7) Amounts receivable on sales of securities 78,616 2,570,767 5,033,634 36,277,527 Amounts receivable on subscriptions 2,815,027 76,341 62,213 1,818,889 8,729,064 3,929,092 Tax reclaim Other assets 1,354 Formation Expenses (Note 2.8) 2,629 16,724 892 3,341 1,962 Total Assets 242,780,506 57,739,753 15,743,842 118,340,952 445,111,913 991,992,927 Bank overdrafts (4,048,871) (726,875) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (63,675) (4,025) (14) Unrealised depreciation on future contracts (Note 2.5, 7) (18,813) Amounts payable on purchases of securities (63,476) (507,355) (7,497,130) (2,449,064) Amounts payable on redemptions (1,654,443) (216,692) (172,771) (952,945) (4,340,269) (9,023,399) Management fees (Note 3.1) (269,312) (35,015) (284,980) (119,020) (458,063) (1,099,124) Other liabilities (65,414) (13,841) (5,196) (32,355) (94,773) (267,715) Total Liabilities (1,989,169) (348,036) (526,423) (5,664,571) (13,117,124) (12,839,302) Net Assets 240,791,337 57,391,717 15,217,419 112,676,381 431,994,789 979,153,625 Number of shares outstanding: Class A 8,152,264 26,527,588 120,779,818 Class AA 3,393,914 9,518,516 3,980,079 78,179,391 9,107,332 Class AA (HKD) Class AA Inc 17,406,184*** Class HA 50,000 52,004 50,027 50,000 Class HC 50,000 51,572 50,000 50,000 Class HI 50,000 52,387 50,217 300,754 Class I 5,472,976 34,489,028 17,702,134 145,275,273 Class I2 Class J Class S Class S Hedged Class T Net asset value per share: Class A 27.9298 3.2814 7.9159 Class AA 1.5907 1.5987 1.0543 2.4009 2.4798 Class AA (HKD) Class AA Inc 0.9845*** Class HA 1.3367 0.9778 1.4152 1.2152 Class HC 1.3297 0.9773 1.4085 1.2088 Class HI 1.3471 0.9783 1.4235 1.2227 Class I 1.3706 1.1628 1.2107 1.6801 Class I2 Class J Class S Class S Hedged Class T *** Previously Class AA The Notes to the Financial Statements form an integral part of these financial statements. 13 MANULIFE GLOBAL FUND

STATEMENT OF NET ASSETS (continued) as at 30 June 2014 (expressed in United States Dollars) Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Property Fund Global Resources Fund Securities portfolio at cost 83,827,799 156,747,035 96,100,167 27,629,838 13,309,374 48,019,145 Unrealised appreciation 15,047,572 10,088,361 14,069,129 657,243 5,480,552 4,601,451 Securities portfolio at market value (Note 2.2) 98,875,371 166,835,396 110,169,296 28,287,081 18,789,926 52,620,596 Cash at bank 571,750 2,660,098 3,507,640 453,470 279,416 1,474,232 Interest and dividends receivable, net 773,283 1,143,858 165,960 55,615 56,073 44,249 Unrealised appreciation on futures contracts (Notes 2.5, 7) Amounts receivable on sales of securities 924,236 449,971 528,731 798,004 88,358 Amounts receivable on subscriptions 839,441 1,135,634 4,042,888 168,763 75,500 343,119 Tax reclaim 3,513 122,180 1,774 963 4,512 Other assets Formation Expenses (Note 2.8) 6,248 Total Assets 101,984,081 172,228,470 118,536,695 29,770,955 19,201,878 54,575,066 Bank overdrafts Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (12) Unrealised depreciation on future contracts (Note 2.5, 7) Amounts payable on purchases of securities (1,318,455) (810,624) (236,296) (276,808) (390,807) Amounts payable on redemptions (1,313,932) (1,311,270) (718,608) (366,659) (127,481) (739,273) Management fees (Note 3.1) (116,549) (193,738) (129,128) (39,261) (24,829) (66,714) Other liabilities (28,062) (63,954) (28,562) (10,150) (6,371) (15,184) Total Liabilities (2,777,010) (2,379,586) (1,112,594) (692,878) (158,681) (1,211,978) Net Assets 99,207,071 169,848,884 117,424,101 29,078,077 19,043,197 53,363,088 Number of shares outstanding: Class A 39,378,068 34,555,028 8,753,712 Class AA 3,357,458 7,954,667 29,504,742 19,398,507 49,863,076 Class AA (HKD) 20,572,221*** Class AA Inc Class HA 50,000 Class HC 50,000 Class HI 50,000 Class I 5,954,310 Class I2 151,567 Class J Class S 11,095 Class S Hedged Class T Net asset value per share: Class A 1.8988 4.7186 11.8921 Class AA 2.0244 0.8570 0.9738 0.9817 1.0702 Class AA (HKD) 9.2065* Class AA Inc Class HA 1.0697 Class HC 1.0641 Class HI 1.0783 Class I 1.0928 Class I2 1.1723 Class J Class S 0.9836** Class S Hedged Class T * Expressed in Hong Kong Dollars, previously Class AA ** Expressed in Singapore Dollars *** Previously Class AA The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 14

STATEMENT OF NET ASSETS (continued) as at 30 June 2014 (expressed in United States Dollars) Greater China Opportunities Fund Healthcare Fund India Equity Fund International Growth Fund Japanese Growth Fund Latin America Equity Fund Securities portfolio at cost 9,316,968 127,804,864 130,647,566 15,708,019 36,148,701 86,048,293 Unrealised appreciation 1,891,636 21,380,392 36,003,999 3,414,585 1,757,991 12,917,467 Securities portfolio at market value (Note 2.2) 11,208,604 149,185,256 166,651,565 19,122,604 37,906,692 98,965,760 Cash at bank 274,436 2,514,088 1,625,273 197,088 102,336 1,482,783 Interest and dividends receivable, net 56,519 100,135 486,766 9,588 36,058 48,790 Unrealised appreciation on futures contracts (Notes 2.5, 7) Amounts receivable on sales of securities 378,079 3,331,993 214,697 783,073 Amounts receivable on subscriptions 3,264,841 1,811,050 70,266 292,448 639,952 Tax reclaim 4,654 Other assets Formation Expenses (Note 2.8) Total Assets 11,917,638 155,064,320 173,906,647 19,404,200 38,552,231 101,920,358 Bank overdrafts (405,043) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) Unrealised depreciation on future contracts (Note 2.5, 7) Amounts payable on purchases of securities (558,912) (1,229,393) Amounts payable on redemptions (1,807,592) (2,209,211) (104,811) (592,428) (1,142,825) Management fees (Note 3.1) (10,899) (195,455) (220,640) (22,214) (42,613) (132,778) Other liabilities (2,874) (41,595) (59,769) (6,633) (11,829) (34,545) Total Liabilities (572,685) (2,044,642) (4,124,056) (133,658) (646,870) (1,310,148) Net Assets 11,344,953 153,019,678 169,782,591 19,270,542 37,905,361 100,610,210 Number of shares outstanding: Class A 3,278,892 11,156,304 Class AA 2,585 90,581,975 134,550,316 3,727,711 580,613 86,421,450 Class AA (HKD) Class AA Inc Class HA Class HC Class HI Class I 5,359,805 Class I2 Class J Class S Class S Hedged Class T Net asset value per share: Class A 4.6596 3.3530 Class AA 1.0025 1.6893 1.2619 1.0710 0.8589 1.1642 Class AA (HKD) Class AA Inc Class HA Class HC Class HI Class I 2.1162 Class I2 Class J Class S Class S Hedged Class T The Notes to the Financial Statements form an integral part of these financial statements. 15 MANULIFE GLOBAL FUND

STATEMENT OF NET ASSETS (continued) as at 30 June 2014 (expressed in United States Dollars) Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund U.S. Small Cap Equity Fund Securities portfolio at cost 118,172,130 86,111,443 32,464,473 47,725,220 138,160,163 27,940,801 Unrealised appreciation 3,845,708 1,532,375 6,384,551 1,527,246 2,903,257 4,385,982 Securities portfolio at market value (Note 2.2) 122,017,838 87,643,818 38,849,024 49,252,466 141,063,420 32,326,783 Cash at bank 1,934,335 985,235 1,108,579 1,849,352 1,509,145 691,749 Interest and dividends receivable, net 1,037,638 1,058,997 130,572 1,304,579 24,564 Unrealised appreciation on futures contracts (Notes 2.5, 7) 2,358 Amounts receivable on sales of securities 619,250 99,968 281,892 205,860 Amounts receivable on subscriptions 1,728,371 533,059 518,719 1,555,834 1,259,189 242,334 Tax reclaim 27,717 Other assets 11,126 16,903 Formation Expenses (Note 2.8) 20,419 1,947 1,826 Total Assets 127,365,149 90,255,012 40,706,862 52,657,652 145,437,075 33,493,116 Bank overdrafts Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (695,383) Unrealised depreciation on future contracts (Note 2.5, 7) Amounts payable on purchases of securities (887,941) (423,103) (505,753) (513,017) (6,834) Amounts payable on redemptions (1,739,634) (209,525) (430,926) (1,345,119) (575,903) (515,616) Management fees (Note 3.1) (162,278) (69,027) (51,264) (67,634) (134,151) (43,142) Other liabilities (43,944) (23,950) (13,188) (17,296) (39,871) (10,731) Total Liabilities (2,833,797) (1,420,988) (1,001,131) (1,430,049) (1,262,942) (576,323) Net Assets 124,531,352 88,834,024 39,705,731 51,227,603 144,174,133 32,916,793 Number of shares outstanding: Class A Class AA 203,342,136 32,084,387 24,591,265 53,285,512 114,307,087 28,028,764 Class AA (HKD) Class AA Inc Class HA 52,146 53,101 50,000 Class HC 51,709 52,655 50,000 Class HI 52,538 53,495 50,000 Class I 1,178,605 671,106 Class I2 1,194,937 Class J 18,045,350 Class S Class S Hedged 39,491,260 Class T Net asset value per share: Class A Class AA 0.6124 1.1392 1.6146 0.9614 1.2496 1.1425 Class AA (HKD) Class AA Inc Class HA 0.9936 0.9758 1.1631 Class HC 0.9932 0.9754 1.1569 Class HI 0.9940 0.9761 1.1721 Class I 1.0043 1.0720 Class I2 1.1194 Class J 1.1184 Class S Class S Hedged 0.9672** Class T ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 16

STATEMENT OF NET ASSETS (continued) as at 30 June 2014 (expressed in United States Dollars) U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Combined for the year ended 30 June 2014 Securities portfolio at cost 128,874,132 12,741,421 2,988,910,785 Unrealised appreciation 2,396,003 187,423 357,442,496 Securities portfolio at market value (Note 2.2) 131,270,135 12,928,844 3,346,353,281 Cash at bank 3,057,623 190,637 57,269,450 Interest and dividends receivable, net 2,008,710 58,281 15,709,065 Unrealised appreciation on futures contracts (Notes 2.5, 7) 2,358 Amounts receivable on sales of securities 201,250 52,865,906 Amounts receivable on subscriptions 1,635,774 32,922 37,620,730 Tax reclaim 165,313 Other assets 333,031 362,414 Formation Expenses (Note 2.8) 2,169 58,157 Total Assets 138,508,692 13,210,684 3,510,406,674 Bank overdrafts (5,180,789) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (763,109) Unrealised depreciation on future contracts (Note 2.5, 7) (18,813) Amounts payable on purchases of securities (1,225,053) (18,900,021) Amounts payable on redemptions (993,145) (186,374) (32,790,851) Management fees (Note 3.1) (127,225) (12,446) (4,127,499) Other liabilities (36,991) (4,755) (979,548) Total Liabilities (2,382,414) (203,575) (62,760,630) Net Assets 136,126,278 13,007,109 3,447,646,044 Number of shares outstanding: Class A Class AA 120,673,150 9,838,985 Class AA (HKD) Class AA Inc Class HA Class HC Class HI Class I 1,963,173 Class I2 Class J Class S Class S Hedged Class T 7,061,470 Net asset value per share: Class A Class AA 1.0407 1.3220 Class AA (HKD) Class AA Inc Class HA Class HC Class HI Class I 1.0126 Class I2 Class J Class S Class S Hedged Class T 1.2116 The Notes to the Financial Statements form an integral part of these financial statements. 17 MANULIFE GLOBAL FUND

STATEMENT OF CHANGES IN NET ASSETS for the year ended 30 June 2015 (expressed in United States Dollars) American Growth Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Net assets at the beginning of the year 240,791,337 57,391,717 15,217,419 112,676,381 431,994,789 979,153,625 Net investment income/(deficit) (1,492,932) 3,007,041 215,230 (316,965) 456,434 6,705,420 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 23,569,587 (510,813) 1,463,716 4,314,554 5,499,219 81,319,839 foreign currency (Note 2.4) 12,383 (337,368) (25,881) (992,080) (3,081,939) (345,542) forward foreign exchange contracts (Note 2.6) 1,626,329 101 (57,015) (174,444) (11,215) futures contracts (Note 2.5) (413,463) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) (4,775,889) (4,111,347) 1,445,943 2,228,844 (5,391,920) 145,292,909 forward foreign exchange contracts (Note 2.6) 106,245 4,025 (8,759) futures contracts (Note 2.5) 41,001 Performance related management fees (Note 3.2) (463,646) 17,313,149 (592,375) 2,635,463 5,181,363 (2,701,409) 232,961,411 Amounts received on subscription of shares 74,571,728 122,080,128 9,522,507 52,271,460 205,878,172 207,603,092 Amounts paid on redemption of shares (107,769,558) (84,012,284) (8,179,157) (57,649,311) (200,382,184) (282,303,812) Dividends paid during the year (Note 5) (2,537,630) (5,962) (414,959) (1,401,093) (7,195,654) Net assets at the end of the year 224,906,656 92,329,556 19,190,270 112,064,934 433,388,275 1,130,218,662 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 18

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Property Fund Global Resources Fund Net assets at the beginning of the year 99,207,071 169,848,884 117,424,101 29,078,077 19,043,197 53,363,088 Net investment income/(deficit) 1,175,720 2,112,607 762,805 24,901 12,036 (140,998) Net profits/(losses) realised on: sale of investments and options (Note 2.2) 11,801,711 (31,187,841) 2,713,293 475,664 1,370,580 (2,776,708) foreign currency (Note 2.4) 2,584 (120,897) (69,934) (12,058) 579 (152,711) forward foreign exchange contracts (Note 2.6) (18) 1,715 622 (256) (5,364) 800 futures contracts (Note 2.5) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 8,598,677 (18,086,413) (11,525,834) (1,174,418) (862,169) (11,080,549) forward foreign exchange contracts (Note 2.6) 12 futures contracts (Note 2.5) Performance related management fees (Note 3.2) 21,578,686 (47,280,829) (8,119,048) (686,167) 515,662 (14,150,166) Amounts received on subscription of shares 146,856,243 16,767,725 55,481,433 4,393,434 5,510,222 11,906,775 Amounts paid on redemption of shares (112,002,434) (28,705,592) (65,856,870) (10,623,271) (8,148,952) (17,403,891) Dividends paid during the year (Note 5) (712,499) (964,617) (1,191,158) (59) (138,042) Net assets at the end of the year 154,927,067 109,665,571 97,738,458 22,162,014 16,782,087 33,715,806 The Notes to the Financial Statements form an integral part of these financial statements. 19 MANULIFE GLOBAL FUND

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Greater China Opportunities Fund Healthcare Fund India Equity Fund International Growth Fund Japanese Growth Fund Latin America Equity Fund Net assets at the beginning of the year 11,344,953 153,019,678 169,782,591 19,270,542 37,905,361 100,610,210 Net investment income/(deficit) 170,322 (1,178,197) (5,181,819) (7,472) 58,531 (13,800) Net profits/(losses) realised on: sale of investments and options (Note 2.2) 1,118,420 6,348,665 34,577,501 1,081,965 2,649,957 (6,836,271) foreign currency (Note 2.4) (8,390) (54,041) (252,775) (14,014) (171,921) (160,441) forward foreign exchange contracts (Note 2.6) 1,931 (7,268) futures contracts (Note 2.5) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 494,442 30,740,827 (12,652,908) (469,718) (386,412) (15,710,182) forward foreign exchange contracts (Note 2.6) futures contracts (Note 2.5) Performance related management fees (Note 3.2) 1,774,794 35,857,254 16,489,999 592,692 2,150,155 (22,727,962) Amounts received on subscription of shares 10,148,832 188,058,867 97,133,135 7,730,007 29,056,095 22,714,601 Amounts paid on redemption of shares (4,519,211) (81,225,553) (85,572,766) (9,544,479) (30,103,225) (39,564,254) Dividends paid during the year (Note 5) (41,330) (18,516) (223,854) (1,033,265) Net assets at the end of the year 18,708,038 295,710,246 197,832,959 18,030,246 38,784,532 59,999,330 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 20

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund U.S. Small Cap Equity Fund Net assets at the beginning of the year 124,531,352 88,834,024 39,705,731 51,227,603 144,174,133 32,916,793 Net investment income/(deficit) 2,117,440 2,805,646 148,694 (148,060) 4,560,429 (323,918) Net profits/(losses) realised on: sale of investments and options (Note 2.2) (14,371,194) (2,950,610) 3,098,037 (473,526) (354,999) 2,544,255 foreign currency (Note 2.4) (125,645) (21,898) (65,576) (113,780) 1,227 302 forward foreign exchange contracts (Note 2.6) (1,433) 166,363 4,865 futures contracts (Note 2.5) (485,694) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) (19,573,954) (3,971,650) (1,252,446) (6,965,599) (3,597,975) (1,284,393) forward foreign exchange contracts (Note 2.6) 1,454,118 futures contracts (Note 2.5) (2,358) Performance related management fees (Note 3.2) (31,954,786) (3,006,083) 1,928,709 (7,696,100) 608,682 936,246 Amounts received on subscription of shares 72,588,024 12,123,777 16,941,456 62,626,139 100,841,417 8,642,351 Amounts paid on redemption of shares (63,411,497) (37,137,765) (26,185,640) (65,356,290) (92,367,504) (14,064,771) Dividends paid during the year (Note 5) (3,316,097) (74,355) (5,280,179) Net assets at the end of the year 101,753,093 57,497,856 32,315,901 40,801,352 147,976,549 28,430,619 The Notes to the Financial Statements form an integral part of these financial statements. 21 MANULIFE GLOBAL FUND

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2015 (expressed in United States Dollars) U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Combined for the year ended 30 June 2015 Net assets at the beginning of the year 136,126,278 13,007,109 3,447,646,044 Net investment income/(deficit) 5,237,110 (63,855) 20,702,350 Net profits/(losses) realised on: sale of investments and options (Note 2.2) (5,095,367) 26,934 119,416,568 foreign currency (Note 2.4) 643 128 (6,109,045) forward foreign exchange contracts (Note 2.6) 8 1,545,721 futures contracts (Note 2.5) (899,157) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) (7,863,059) (280,712) 57,784,095 forward foreign exchange contracts (Note 2.6) 1,555,641 futures contracts (Note 2.5) 38,643 Performance related management fees (Note 3.2) (463,646) (7,720,665) (317,505) 193,571,170 Amounts received on subscription of shares 71,633,667 1,090,788 1,614,172,075 Amounts paid on redemption of shares (106,583,711) (5,393,435) (1,644,067,417) Dividends paid during the year (Note 5) (7,380,681) (7,033) (31,936,983) Net assets at the end of the year 86,074,888 8,379,924 3,579,384,889 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 22

STATEMENT OF CHANGES IN NET ASSETS for the year ended 30 June 2014 (expressed in United States Dollars) American Growth Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Net assets at the beginning of the year 208,251,045 55,126,391 16,145,996 86,356,460 203,490,829 980,183,104 Net investment income/(deficit) (1,241,990) 2,122,892 151,350 258,171 311,319 7,040,242 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 18,849,368 (732,344) 636,024 11,800,566 17,361,430 18,347,647 foreign currency (Note 2.4) (2,745) 39,272* 12,848 (876,281)* (1,558,817)* (321,867) forward foreign exchange contracts (Note 2.6) (471,039) (302,717) (38,323) (448,615) (31,477) futures contracts (Note 2.5) (54,332) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 28,899,350 2,310,443 1,662,640 5,273,001 42,234,244 107,986,004 forward foreign exchange contracts (Note 2.6) (82,784) (555) (4,025) 3,394 (10) futures contracts (Note 2.5) (18,813) Performance related management fees (Note 3.2) (265,170) 46,503,983 3,113,295 1,894,420 16,413,109 57,902,955 133,020,539 Amounts received on subscription of shares 63,342,242 20,684,006 8,104,750 42,928,488 294,381,925 144,374,945 Amounts paid on redemption of shares (77,304,360) (20,185,900) (10,348,346) (32,607,905) (121,641,417) (271,947,745) Dividends paid during the year (Note 5) (1,573) (1,346,075) (579,401) (413,771) (2,139,503) (6,477,218) Net assets at the end of the year 240,791,337 57,391,717 15,217,419 112,676,381 431,994,789 979,153,625 The Notes to the Financial Statements form an integral part of these financial statements. * The figures for the year ended 30 June 2014 related to taxation and net profits (losses) realised on foreign currency have been reclassified to ensure comparability with the figures for the year ended 30 June 2015. 23 MANULIFE GLOBAL FUND

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2014 (expressed in United States Dollars) Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Property Fund Global Resources Fund Net assets at the beginning of the year 76,685,034 176,547,895 65,523,629 40,010,866 18,945,193 51,841,235 Net investment income/(deficit) 724,279 733,229 1,158,434 (94,876) 135,770 (142,251) Net profits/(losses) realised on: sale of investments and options (Note 2.2) 6,650,195 (265,381) 7,813,048 (30,014) 1,091,794 657,595 foreign currency (Note 2.4) (3,956) (143,190) 74,998 (62,173) (8,252) 17,575 forward foreign exchange contracts (Note 2.6) (55) (3,864) (6,733) 15,793 (924) (11,239) futures contracts (Note 2.5) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 8,941,457 16,940,856 7,439,977 7,157,558 1,125,112 9,401,661 forward foreign exchange contracts (Note 2.6) (12) (11) futures contracts (Note 2.5) Performance related management fees (Note 3.2) 16,311,908 17,261,650 16,479,724 6,986,288 2,343,489 9,923,341 Amounts received on subscription of shares 65,442,744 23,467,444 70,916,558 4,365,503 4,633,028 14,325,480 Amounts paid on redemption of shares (58,419,258) (43,326,177) (34,709,843) (22,284,580) (5,627,628) (22,726,968) Dividends paid during the year (Note 5) (813,357) (4,101,928) (785,967) (1,250,885) Net assets at the end of the year 99,207,071 169,848,884 117,424,101 29,078,077 19,043,197 53,363,088 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 24

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2014 (expressed in United States Dollars) Greater China Opportunities Fund Healthcare Fund India Equity Fund International Growth Fund Japanese Growth Fund Latin America Equity Fund Net assets at the beginning of the year 9,623,781 41,158,290 156,662,960 10,309,119 41,882,474 110,691,249 Net investment income/(deficit) 28,407 (533,539) (1,347,646) 17,607 207,369 686,869 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 865,388 189,810 8,955,117 794,919 1,191,862 (4,295,647) foreign currency (Note 2.4) 754 (17,236) (171,133)* 18,196 (61,307) (104,408) forward foreign exchange contracts (Note 2.6) (413) (4,608) futures contracts (Note 2.5) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 697,326 17,728,002 32,308,327 2,201,713 926,203 16,383,185 forward foreign exchange contracts (Note 2.6) futures contracts (Note 2.5) Performance related management fees (Note 3.2) 1,591,875 17,367,037 39,744,665 3,032,022 2,264,127 12,665,391 Amounts received on subscription of shares 272,355 135,912,166 35,658,397 14,304,089 32,342,856 24,026,548 Amounts paid on redemption of shares (51,928) (41,417,815) (62,283,431) (8,374,284) (38,549,493) (44,531,334) Dividends paid during the year (Note 5) (91,130) (404) (34,603) (2,241,644) Net assets at the end of the year 11,344,953 153,019,678 169,782,591 19,270,542 37,905,361 100,610,210 The Notes to the Financial Statements form an integral part of these financial statements. * The figures for the year ended 30 June 2014 related to taxation and net profits (losses) realised on foreign currency have been reclassified to ensure comparability with the figures for the year ended 30 June 2015. 25 MANULIFE GLOBAL FUND

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2014 (expressed in United States Dollars) Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund U.S. Small Cap Equity Fund Net assets at the beginning of the year 137,711,776 88,271,301 36,878,339 50,033,028 152,573,924 25,386,073 Net investment income/(deficit) (678,857) 3,465,637 104,766 (299,579) 5,263,955 (402,970) Net profits/(losses) realised on: sale of investments and options (Note 2.2) (9,491,963) (337,752) 3,143,327 (982,355) (1,295,583) 1,435,069 foreign currency (Note 2.4) (20,207) (127,360) 4,652 (59,909) (1,864) (353) forward foreign exchange contracts (Note 2.6) 1,207,205 (4,368) futures contracts (Note 2.5) (400,989) 14,143 Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 20,617,479 3,086,276 3,420,633 1,569,572 4,257,657 3,603,207 forward foreign exchange contracts (Note 2.6) (2,094,300) futures contracts (Note 2.5) (2,664) Performance related management fees (Note 3.2) 10,426,452 4,796,053 6,687,521 223,361 8,224,165 4,634,953 Amounts received on subscription of shares 43,323,162 18,056,043 15,410,068 59,262,101 54,671,388 14,366,265 Amounts paid on redemption of shares (64,237,982) (18,495,967) (19,201,151) (58,160,422) (64,403,289) (11,470,498) Dividends paid during the year (Note 5) (2,692,056) (3,793,406) (69,046) (130,465) (6,892,055) Net assets at the end of the year 124,531,352 88,834,024 39,705,731 51,227,603 144,174,133 32,916,793 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 26

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2014 (expressed in United States Dollars) U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Combined for the year ended 30 June 2014 Net assets at the beginning of the year 96,554,955 20,668,066 2,957,513,012 Net investment income/(deficit) 6,108,653 5,634 23,782,875 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 2,072,692 (361,675) 84,063,137 foreign currency (Note 2.4) (3,262) (193) (3,376,218)* forward foreign exchange contracts (Note 2.6) (101,377) futures contracts (Note 2.5) (441,178) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 5,196,254 766,723 352,134,860 forward foreign exchange contracts (Note 2.6) (2,178,303) futures contracts (Note 2.5) (21,477) Performance related management fees (Note 3.2) (265,170) 13,374,337 410,489 453,597,149 Amounts received on subscription of shares 100,104,235 2,505,823 1,307,182,609 Amounts paid on redemption of shares (68,887,622) (10,577,269) (1,231,772,612) Dividends paid during the year (Note 5) (5,019,627) (38,874,114) Net assets at the end of the year 136,126,278 13,007,109 3,447,646,044 The Notes to the Financial Statements form an integral part of these financial statements. * The figures for the year ended 30 June 2014 related to taxation and net profits (losses) realised on foreign currency have been reclassified to ensure comparability with the figures for the year ended 30 June 2015. 27 MANULIFE GLOBAL FUND

STATEMENT OF CHANGES IN SHARES for the year ended 30 June 2015 American Growth Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Dragon Growth Fund Shares outstanding as at 30 June 2014 Class A 8,152,264 26,527,588 120,779,818 39,378,068 Class AA 3,393,914 9,518,516 3,980,079 78,179,391 9,107,332 Class AA (HKD) 20,572,221 Class AA (HKD) Inc Class AA Inc 17,406,184 Class HA 50,000 52,004 50,027 50,000 Class HC 50,000 51,572 50,000 50,000 Class HI 50,000 52,387 50,217 300,754 Class I 5,472,976 34,489,028 17,702,134 145,275,273 Class I2 Class I3 Class J Class S Class S Hedged Class T Total subscriptions Class A 1,297,854 4,806,800 21,815,027 37,294,070 Class AA 7,273,382 246,239 5,202,654 8,486,895 39,193,342 2,399,768 Class AA (HKD) 122,921 560,199 52,840,818 Class AA (HKD) Inc 55,363 Class AA Inc 3,969,870 659,274 Class HA 1,362 123 Class HC 1,088 Class HI 1,605 15 2,290,709 Class I 17,923,745 45,432,466 22,293,799 66,948,862 Class I2 Class I3 619,199 682,312 452,292 Class J 48,052,008 Class S Class S Hedged Class T Total redemptions Class A 2,561,581 6,882,676 30,426,018 31,118,447 Class AA 7,495,971 117,739 4,768,313 5,341,732 36,995,924 2,866,422 Class AA (HKD) 121,051 98,494 37,619,415 Class AA (HKD) Inc Class AA Inc 9,389,082 11,316 Class HA Class HC Class HI 2,137,749 Class I 15,327,923 44,868,738 23,968,299 68,970,472 Class I2 Class I3 280,412 452,292 Class J 5,637,209 Class S Class S Hedged Class T Shares outstanding as at 30 June 2015 Class A 6,888,537 24,451,712 112,168,827 45,553,691 Class AA 3,171,325 128,500 9,952,857 7,125,242 80,376,809 8,640,678 Class AA (HKD) 1,870 461,705 35,793,624 Class AA (HKD) Inc 55,363 Class AA Inc 11,986,972 647,958 Class HA 50,000 53,366 50,027 50,123 Class HC 50,000 52,660 50,000 50,000 Class HI 50,000 53,992 50,232 453,714 Class I 8,068,798 35,052,756 16,027,634 143,253,663 Class I2 Class I3 619,199 401,900 Class J 42,414,799 Class S Class S Hedged Class T The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 28

Statement of Changes in Shares (continued) for the year ended 30 June 2015 Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Property Fund Global Resources Fund Greater China Opportunities Fund Shares outstanding as at 30 June 2014 Class A 34,555,028 8,753,712 Class AA 3,357,458 7,954,667 29,504,742 19,398,507 49,863,076 2,585 90,581,975 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA 50,000 Class HC 50,000 Class HI 50,000 Class I 5,954,310 5,359,805 Class I2 151,567 Class I3 Class J Class S 11,095 Class S Hedged Class T Healthcare Fund Total subscriptions Class A 4,089,717 2,948,921 Class AA 1,047,769 12,952,029 3,305,385 5,393,886 13,088,717 4,138,896 100,764,304 Class AA (HKD) 24,155 Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI 57 Class I 11,528,165 2,106,768 Class I2 535,886 Class I3 660,646 627,790 700,060 710,936 Class J Class S 3,595 Class S Hedged Class T Total redemptions Class A 7,090,658 3,860,650 Class AA 1,230,207 13,174,947 10,344,099 8,003,227 19,251,665 1,644,655 43,401,954 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I 12,763,872 1,114,861 Class I2 637,453 Class I3 245,532 Class J Class S 13,541 Class S Hedged Class T Shares outstanding as at 30 June 2015 Class A 31,554,087 7,841,983 Class AA 3,175,020 7,731,749 22,466,028 16,789,166 43,700,128 2,496,826 147,944,325 Class AA (HKD) 24,155 Class AA (HKD) Inc Class AA Inc Class HA 50,000 Class HC 50,000 Class HI 50,057 Class I 4,718,603 6,351,712 Class I2 50,000 Class I3 415,114 627,790 700,060 710,936 Class J Class S 1,149 Class S Hedged Class T The Notes to the Financial Statements form an integral part of these financial statements. 29 MANULIFE GLOBAL FUND

STATEMENT OF CHANGES IN SHARES (continued) for the year ended 30 June 2015 India Equity Fund International Growth Fund Japanese Growth Fund Latin America Equity Fund Russia Equity Fund Strategic Income Fund Shares outstanding as at 30 June 2014 Class A 3,278,892 11,156,304 Class AA 134,550,316 3,727,711 580,613 86,421,450 203,342,136 32,084,387 24,591,265 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA 52,146 Class HC 51,709 Class HI 52,538 Class I Class I2 1,194,937 Class I3 Class J 18,045,350 Class S Class S Hedged 39,491,260 Class T Total subscriptions Class A 535,099 5,730,755 Class AA 59,778,662 4,932,344 11,630,916 21,421,258 154,556,694 4,529,519 10,547,082 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA 1,607 Class HC 1,333 Class HI 1,856 Class I Class I2 12,975,251 501,580 Class I3 700,060 Class J 809,900 Class S Class S Hedged 7,808,569 Class T Total redemptions Class A 1,085,697 7,096,154 Class AA 61,165,097 4,209,080 8,080,525 38,713,061 131,501,117 7,318,652 16,329,054 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I Class I2 1,081,802 676,388 Class I3 243,021 Class J 18,855,250 Class S Class S Hedged 11,307,916 Class T Shares outstanding as at 30 June 2015 Class A 2,728,294 9,790,905 Class AA 133,163,881 4,450,975 4,131,004 69,129,647 226,397,713 29,295,254 18,809,293 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA 53,753 Class HC 53,042 Class HI 54,394 Class I Class I2 11,893,449 1,020,129 Class I3 457,039 Class J Class S Class S Hedged 35,991,913 Class T Taiwan Equity Fund The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 30

Statement of Changes in Shares (continued) for the year ended 30 June 2015 Turkey Equity Fund U.S. Bond Fund U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Shares outstanding as at 30 June 2014 Class A Class AA 53,285,512 114,307,087 28,028,764 120,673,150 9,838,985 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA 53,101 50,000 Class HC 52,655 50,000 Class HI 53,495 50,000 Class I 1,178,605 671,106 1,963,173 Class I2 Class I3 Class J Class S Class S Hedged Class T 7,061,470 Total subscriptions Class A Class AA 69,615,272 58,155,850 5,907,893 39,280,251 835,986 Class AA (HKD) 39,326 2,381 Class AA (HKD) Inc 173,398 Class AA Inc 3,072,093 14,057,328 Class HA 1,610 Class HC 1,330 Class HI 1,862 Class I 24,271,496 1,083,829 14,334,511 Class I2 Class I3 1,550,545 859,018 Class J Class S Class S Hedged Class T 4,489,234 Total redemptions Class A Class AA 71,353,351 64,435,095 10,632,151 83,889,032 4,144,410 Class AA (HKD) 29,547 2,381 Class AA (HKD) Inc 79,747 Class AA Inc 1,137,923 2,240,651 Class HA Class HC Class HI Class I 11,868,355 1,754,935 10,845,745 Class I2 Class I3 237,678 Class J Class S Class S Hedged Class T 11,004,065 Shares outstanding as at 30 June 2015 Class A Class AA 51,547,433 108,027,842 23,304,506 76,064,369 6,530,561 Class AA (HKD) 9,779 Class AA (HKD) Inc 93,651 Class AA Inc 1,934,170 11,816,677 Class HA 54,711 50,000 Class HC 53,985 50,000 Class HI 55,357 50,000 Class I 13,581,746 5,451,939 Class I2 Class I3 1,550,545 621,340 Class J Class S Class S Hedged Class T 546,639 The Notes to the Financial Statements form an integral part of these financial statements. 31 MANULIFE GLOBAL FUND

American Growth Fund STATEMENT OF CHANGES IN SHARES for the year ended 30 June 2014 Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Dragon Growth Fund Shares outstanding as at 30 June 2013 Class A 9,054,935 29,758,531 136,848,571 41,160,693 Class AA 667,602 11,037,387 3,776,928 72,555,382 11,289,454 Class AA (HKD) 11,867,148*** Class AA Inc 29,750,028*** Class HA 50,000 50,712 50,000 50,000 Class HC 50,000 50,543 50,000 50,000 Class HI 50,000 50,862 50,000 50,000 Class I 948,378 23,277,359 622,913 40,789,269 Class I2 Class J Class S Class S Hedged Class T Total subscriptions Class A 1,955,263 5,403,293 18,400,828 25,405,762 Class AA 4,041,943 5,289,818 4,290,115 43,700,589 1,708,729 Class AA (HKD) 16,899,285*** Class AA Inc 8,007,412*** Class HA 1,292 27 Class HC 1,029 Class HI 1,525 217 250,754 Class I 6,006,711 11,693,762 18,795,851 128,810,368 Class I2 Class J Class S Class S Hedged Class T Total redemptions Class A 2,857,934 8,634,236 34,469,581 27,188,387 Class AA 1,315,631 6,808,689 4,086,964 38,076,580 3,890,851 Class AA (HKD) 8,194,212*** Class AA Inc 20,351,256*** Class HA Class HC Class HI Class I 1,482,113 482,093 1,716,630 24,324,364 Class I2 Class J Class S Class S Hedged Class T Shares outstanding as at 30 June 2014 Class A 8,152,264 26,527,588 120,779,818 39,378,068 Class AA 3,393,914 9,518,516 3,980,079 78,179,391 9,107,332 Class AA (HKD) 20,572,221*** Class AA Inc 17,406,184*** Class HA 50,000 52,004 50,027 50,000 Class HC 50,000 51,572 50,000 50,000 Class HI 50,000 52,387 50,217 300,754 Class I 5,472,976 34,489,028 17,702,134 145,275,273 Class I2 Class J Class S Class S Hedged Class T *** Previously Class AA The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 32

Statement of Changes in Shares (continued) for the year ended 30 June 2014 Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund Shares outstanding as at 30 June 2013 Class A 38,766,851 6,738,851 Class AA 3,722,739 250,788 39,770,723 20,298,524 58,402,645 29,837,893 Class AA (HKD) Class AA Inc Class HA 50,000 Class HC 50,000 Class HI 50,000 Class I 5,256,214 Class I2 8,029,195 Class J Class S 19,924 Class S Hedged Class T Total subscriptions Class A 4,331,195 4,916,517 Class AA 1,599,670 9,575,605 4,605,560 5,121,651 14,279,179 2,585 87,188,963 Class AA (HKD) Class AA Inc Class HA Class HC Class HI Class I 6,101,051 128,722 Class I2 173,128 Class J Class S 4,720 Class S Hedged Class T Total redemptions Class A 8,543,018 2,901,656 Class AA 1,964,951 1,871,726 14,871,541 6,021,668 22,818,748 26,444,881 Class AA (HKD) Class AA Inc Class HA Class HC Class HI Class I 146,741 25,131 Class I2 8,050,756 Class J Class S 13,549 Class S Hedged Class T Shares outstanding as at 30 June 2014 Class A 34,555,028 8,753,712 Class AA 3,357,458 7,954,667 29,504,742 19,398,507 49,863,076 2,585 90,581,975 Class AA (HKD) Class AA Inc Class HA 50,000 Class HC 50,000 Class HI 50,000 Class I 5,954,310 5,359,805 Class I2 151,567 Class J Class S 11,095 Class S Hedged Class T The Notes to the Financial Statements form an integral part of these financial statements. 33 MANULIFE GLOBAL FUND

Statement of Changes in Shares (continued) for the year ended 30 June 2014 India Equity Fund International Growth Fund Japanese Growth Fund Latin America Equity Fund Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Shares outstanding as at 30 June 2013 Class A 2,437,403 13,099,413 Class AA 161,690,585 1,251,479 624,753 105,811,050 236,555,171 37,967,428 27,338,429 Class AA (HKD) Class AA Inc Class HA 50,675 Class HC 50,507 Class HI 50,825 Class I Class I2 1,274,105 Class J 17,072,555 Class S Class S Hedged 32,760,533 Class T Total subscriptions Class A 2,085,434 8,986,763 Class AA 34,486,928 5,505,129 4,399,600 22,300,696 73,083,366 7,082,608 10,528,390 Class AA (HKD) Class AA Inc Class HA 1,471 Class HC 1,202 Class HI 1,713 Class I Class I2 725,675 Class J 972,795 Class S Class S Hedged 10,712,061 Class T Total redemptions Class A 1,243,945 10,929,872 Class AA 61,627,197 3,028,897 4,443,740 41,690,296 106,296,401 12,965,649 13,275,554 Class AA (HKD) Class AA Inc Class HA Class HC Class HI Class I Class I2 804,843 Class J Class S Class S Hedged 3,981,334 Class T Shares outstanding as at 30 June 2014 Class A 3,278,892 11,156,304 Class AA 134,550,316 3,727,711 580,613 86,421,450 203,342,136 32,084,387 24,591,265 Class AA (HKD) Class AA Inc Class HA 52,146 Class HC 51,709 Class HI 52,538 Class I Class I2 1,194,937 Class J 18,045,350 Class S Class S Hedged 39,491,260 Class T The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 34

Statement of Changes in Shares (continued) for the year ended 30 June 2014 Turkey Equity Fund U.S. Bond Fund U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Shares outstanding as at 30 June 2013 Class A Class AA 52,403,344 123,063,711 25,967,829 98,543,845 16,136,583 Class AA (HKD) Class AA Inc Class HA 50,935 50,000 Class HC 50,766 50,000 Class HI 51,084 50,000 Class I Class I2 Class J Class S Class S Hedged Class T 1,100,550 Total subscriptions Class A Class AA 65,946,965 43,822,254 12,197,657 85,084,759 1,951,132 Class AA (HKD) Class AA Inc Class HA 2,166 Class HC 1,889 Class HI 2,411 Class I 1,178,605 1,031,606 1,963,173 Class I2 Class J Class S Class S Hedged Class T 11,284,140 Total redemptions Class A Class AA 65,064,797 52,578,878 10,136,722 62,955,454 8,248,730 Class AA (HKD) Class AA Inc Class HA Class HC Class HI Class I 360,500 Class I2 Class J Class S Class S Hedged Class T 5,323,220 Shares outstanding as at 30 June 2014 Class A Class AA 53,285,512 114,307,087 28,028,764 120,673,150 9,838,985 Class AA (HKD) Class AA Inc Class HA 53,101 50,000 Class HC 52,655 50,000 Class HI 53,495 50,000 Class I 1,178,605 671,106 1,963,173 Class I2 Class J Class S Class S Hedged Class T 7,061,470 The Notes to the Financial Statements form an integral part of these financial statements. 35 MANULIFE GLOBAL FUND

Statement of Operations for the year ended 30 June 2015 (expressed in United States Dollars) American Growth Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Income Dividends (Note 2.3) 2,543,913 655,600 2,540,644 11,904,014 24,829,106 Bond interest (Note 2.3) 3,938,258 Deposit interest (Note 2.3) 2,559 383 1,669 Other income 19 19 19 19 86 28 2,543,932 3,940,836 655,619 2,541,046 11,905,769 24,829,134 Expenses Management fees (Note 3.1) 3,541,840 666,436 306,647 1,642,126 6,309,689 15,783,610 Administration fees (Note 3.3) 237,815 122,809 49,726 166,524 358,670 925,640 Custodian fees (Note 3.3) 24,965 23,899 53,764 114,249 303,234 321,432 Taxation (Note 4) 111,934 62,008 8,796 824,533 4,189,406 517,244 Printing and publishing expenses 39,370 22,108 10,351 19,841 60,527 136,176 Legal and other professional fees 43,055 14,189 2,988 55,968 125,754 195,417 Audit fees 24,465 8,469 1,648 13,953 40,331 94,488 Directors fees and expenses (Note 3.8) 2,713 1,140 199 1,302 5,193 11,745 Amortisation of formation expenses (Note 2.8) 1,005 8,948 111 395 1,172 592 Bank charges 316 147 27 5,153 9,514 5,095 Other expenses 9,386 3,642 6,132 13,967 45,845 132,275 4,036,864 933,795 440,389 2,858,011 11,449,335 18,123,714 Net investment income/(deficit) (1,492,932) 3,007,041 215,230 (316,965) 456,434 6,705,420 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 36

Statement of Operations (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Property Fund Global Resources Fund Income Dividends (Note 2.3) 3,440,597 4,801,487 2,613,388 612,311 408,420 708,798 Bond interest (Note 2.3) Deposit interest (Note 2.3) 7 171 1,649 33 49 996 Other income 19 393 19 19 19 19 3,440,623 4,802,051 2,615,056 612,363 408,488 709,813 Expenses Management fees (Note 3.1) 1,950,017 1,945,837 1,573,220 442,706 316,590 730,081 Administration fees (Note 3.3) 145,324 305,773 140,116 84,897 51,546 62,981 Custodian fees (Note 3.3) 26,813 248,942 29,998 19,363 7,025 10,823 Taxation (Note 4) 63,309 58,794 48,594 12,102 8,769 19,082 Printing and publishing expenses 21,063 27,057 18,914 9,731 6,243 9,795 Legal and other professional fees 19,680 41,649 20,196 9,733 3,855 9,370 Audit fees 23,279 28,582 10,978 5,846 1,568 6,425 Directors fees and expenses (Note 3.8) 1,362 1,485 1,206 297 206 481 Amortisation of formation expenses (Note 2.8) 1,225 1,270 30 Bank charges 598 1,130 1,586 10 99 101 Other expenses 13,458 30,195 6,218 1,507 521 1,672 2,264,903 2,689,444 1,852,251 587,462 396,452 850,811 Net investment income/(deficit) 1,175,720 2,112,607 762,805 24,901 12,036 (140,998) The Notes to the Financial Statements form an integral part of these financial statements. 37 MANULIFE GLOBAL FUND

Statement of Operations (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Greater China Opportunities Fund Healthcare Fund India Equity Fund International Growth Fund Japanese Growth Fund Latin America Equity Fund Income Dividends (Note 2.3) 422,330 3,124,404 2,177,512 374,318 840,027 1,615,967 Bond interest (Note 2.3) Deposit interest (Note 2.3) 107 126 196 Other income 19 19 19 20 19 19 422,349 3,124,423 2,177,638 374,464 840,242 1,615,986 Expenses Management fees (Note 3.1) 161,467 3,903,943 3,219,716 283,166 586,810 1,384,313 Administration fees (Note 3.3) 36,161 172,498 160,949 56,231 86,044 99,097 Custodian fees (Note 3.3) 23,052 19,642 297,040 7,179 38,699 63,395 Taxation (Note 4) 2,009 121,874 3,526,697 9,085 18,696 35,807 Printing and publishing expenses 5,177 26,313 25,280 12,459 26,086 16,855 Legal and other professional fees 18,010 27,576 102,503 4,767 16,379 18,311 Audit fees 1,326 21,842 18,481 7,481 6,595 7,131 Directors fees and expenses (Note 3.8) 161 2,433 2,127 206 445 921 Amortisation of formation expenses (Note 2.8) 3,228 89 Bank charges 110 202 612 163 844 480 Other expenses 1,326 6,297 5,963 1,199 1,113 3,476 252,027 4,302,620 7,359,457 381,936 781,711 1,629,786 Net investment income/(deficit) 170,322 (1,178,197) (5,181,819) (7,472) 58,531 (13,800) The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 38

Statement of Operations (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund U.S. Small Cap Equity Fund Income Dividends (Note 2.3) 4,490,880 283,495 906,651 969,406 99,853 298,191 Bond interest (Note 2.3) 3,634,776 6,636,786 Deposit interest (Note 2.3) 368 884 Other income 1,145 39 19 100 231 19 4,492,393 3,919,194 906,670 969,506 6,736,870 298,210 Expenses Management fees (Note 3.1) 1,775,302 853,144 589,828 823,171 1,812,705 512,032 Administration fees (Note 3.3) 206,440 135,153 46,520 166,556 194,600 63,093 Custodian fees (Note 3.3) 219,407 25,971 51,883 48,264 18,826 14,654 Taxation (Note 4) 47,337 32,660 16,351 21,962 68,146 14,340 Printing and publishing expenses 17,808 15,610 36,313 37,154 33,529 6,641 Legal and other professional fees 34,986 16,212 6,891 10,639 26,144 6,502 Audit fees 24,009 7,219 7,212 3,796 12,709 2,665 Directors fees and expenses (Note 3.8) 1,148 962 384 541 1,674 340 Amortisation of formation expenses (Note 2.8) 16,250 1,134 886 Bank charges 1,227 4,542 154 21 15 Other expenses 47,289 5,825 2,594 5,329 6,953 960 2,374,953 1,113,548 757,976 1,117,566 2,176,441 622,128 Net investment income/(deficit) 2,117,440 2,805,646 148,694 (148,060) 4,560,429 (323,918) The Notes to the Financial Statements form an integral part of these financial statements. 39 MANULIFE GLOBAL FUND

Statement of Operations (continued) for the year ended 30 June 2015 (expressed in United States Dollars) U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Combined for the year ended 30 June 2015 Income Dividends (Note 2.3) 416,108 71,077,420 Bond interest (Note 2.3) 6,416,960 133,119 20,759,899 Deposit interest (Note 2.3) 7 9,204 Other income 19 19 2,384 6,833,094 133,138 91,848,907 Expenses Management fees (Note 3.1) 1,309,497 137,492 52,561,385 Administration fees (Note 3.3) 143,697 39,973 4,258,833 Custodian fees (Note 3.3) 12,646 4,924 2,030,089 Taxation (Note 4) 47,263 5,124 9,891,922 Printing and publishing expenses 38,975 4,944 684,320 Legal and other professional fees 22,164 2,969 855,907 Audit fees 12,560 1,046 394,104 Directors fees and expenses (Note 3.8) 1,240 128 40,039 Amortisation of formation expenses (Note 2.8) 2,185 38,520 Bank charges 507 32,653 Other expenses 5,250 393 358,785 1,595,984 196,993 71,146,557 Net investment income/(deficit) 5,237,110 (63,855) 20,702,350 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 40

Statement of Operations for the year ended 30 June 2014 (expressed in United States Dollars) American Growth Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Income Dividends (Note 2.3) 2,721,254 595,683 2,153,472 5,808,900 24,754,171 Bond interest (Note 2.3) 2,783,322 Deposit interest (Note 2.3) 2,662 261 676 7 Other income 4 204 2,721,254 2,785,984 595,687 2,153,733 5,809,576 24,754,382 Expenses Management fees (Note 3.1) 3,446,810 463,337 287,923 1,410,633 4,450,020 15,274,345 Administration fees (Note 3.3) 236,137 112,585 59,654 168,328 303,710 1,085,934 Custodian fees (Note 3.3) 17,815 14,235 61,964 95,986 188,226 289,974 Taxation (Note 4) 115,175 16,900* 8,258 110,097* 352,058* 510,708 Printing and publishing expenses 25,576 8,788 5,302 14,787 37,526 90,646 Legal and other professional fees 67,710 10,147 6,457 64,076 86,645 258,997 Audit fees 43,941 19,719 5,179 20,096 58,434 156,325 Directors fees and expenses (Note 3.8) 4,101 1,036 299 1,691 4,494 18,789 Amortisation of formation expenses (Note 2.8) 787 14,728 7,639 393 1,106 590 Bank charges 8 395 5,299 8,463 1,342 Other expenses 5,192 1,609 1,267 4,176 7,575 26,490 3,963,244 663,092 444,337 1,895,562 5,498,257 17,714,140 Net investment income/(deficit) (1,241,990) 2,122,892 151,350 258,171 311,319 7,040,242 The Notes to the Financial Statements form an integral part of these financial statements. * The figures for the year ended 30 June 2014 related to taxation and net profits (losses) realised on foreign currency have been reclassified to ensure comparability with the figures for the year ended 30 June 2015. 41 MANULIFE GLOBAL FUND

Statement of Operations (continued) for the year ended 30 June 2014 (expressed in United States Dollars) Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Property Fund Global Resources Fund Income Dividends (Note 2.3) 2,376,788 4,324,071 2,701,955 695,776 572,691 944,803 Bond interest (Note 2.3) 7 Deposit interest (Note 2.3) 274 45 27 34 Other income 972 27 730 2,377,760 4,324,345 2,701,982 695,821 573,448 944,844 Expenses Management fees (Note 3.1) 1,398,822 2,684,103 1,294,978 597,035 332,008 935,205 Administration fees (Note 3.3) 125,657 369,587 120,089 100,032 52,701 77,265 Custodian fees (Note 3.3) 17,848 291,809 27,103 23,592 7,970 14,207 Taxation (Note 4) 46,967 89,196 46,287 17,783 9,609 26,538 Printing and publishing expenses 13,566 18,894 14,644 6,547 4,623 6,290 Legal and other professional fees 18,286 60,169 17,184 27,141 22,735 14,679 Audit fees 25,963 58,128 17,985 13,497 6,796 10,422 Directors fees and expenses (Note 3.8) 1,545 3,425 1,416 759 350 1,042 Amortisation of formation expenses (Note 2.8) 211 1,970 Bank charges 316 1,836 694 945 59 39 Other expenses 4,511 13,969 2,957 1,396 827 1,408 1,653,481 3,591,116 1,543,548 790,697 437,678 1,087,095 Net investment income/(deficit) 724,279 733,229 1,158,434 (94,876) 135,770 (142,251) The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 42

Statement of Operations (continued) for the year ended 30 June 2014 (expressed in United States Dollars) Greater China Opportunities Fund Healthcare Fund India Equity Fund International Growth Fund Japanese Growth Fund Latin America Equity Fund Income Dividends (Note 2.3) 227,698 1,333,428 2,082,216 348,666 1,000,557 2,816,349 Bond interest (Note 2.3) Deposit interest (Note 2.3) 69 Other income 227,698 1,333,428 2,082,216 348,735 1,000,557 2,816,349 Expenses Management fees (Note 3.1) 118,039 1,655,292 2,586,378 237,852 609,002 1,816,092 Administration fees (Note 3.3) 30,479 96,777 131,058 58,121 94,878 108,184 Custodian fees (Note 3.3) 19,778 13,124 241,927 6,869 37,792 90,241 Taxation (Note 4) 1,161 55,343 301,235* 8,381 20,098 51,764 Printing and publishing expenses 733 13,554 15,203 7,842 9,979 9,866 Legal and other professional fees 23,887 10,802 122,236 4,029 8,464 26,565 Audit fees 4,369 18,828 25,112 6,622 10,144 21,193 Directors fees and expenses (Note 3.8) 188 1,164 2,827 236 726 2,097 Amortisation of formation expenses (Note 2.8) Bank charges 45 6 854 21 866 480 Other expenses 612 2,077 3,032 1,155 1,239 2,998 199,291 1,866,967 3,429,862 331,128 793,188 2,129,480 Net investment income/(deficit) 28,407 (533,539) (1,347,646) 17,607 207,369 686,869 The Notes to the Financial Statements form an integral part of these financial statements. * The figures for the year ended 30 June 2014 related to taxation and net profits (losses) realised on foreign currency have been reclassified to ensure comparability with the figures for the year ended 30 June 2015. 43 MANULIFE GLOBAL FUND

Statement of Operations (continued) for the year ended 30 June 2014 (expressed in United States Dollars) Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund U.S. Small Cap Equity Fund Income Dividends (Note 2.3) 2,314,888 184,940 934,909 821,064 72,237 243,022 Bond interest (Note 2.3) 4,480,733 7,343,550 Deposit interest (Note 2.3) 3,308 5 Other income 1,412 183 66 397 2,316,300 4,669,164 934,909 821,130 7,416,189 243,022 Expenses Management fees (Note 3.1) 2,293,980 915,807 634,092 837,613 1,793,943 527,170 Administration fees (Note 3.3) 218,586 150,980 48,979 160,510 189,838 66,701 Custodian fees (Note 3.3) 288,840 16,580 56,806 46,853 13,470 12,910 Taxation (Note 4) 65,709 36,815 18,478 23,531 71,735 15,509 Printing and publishing expenses 11,425 13,397 27,237 27,433 15,730 5,840 Legal and other professional fees 50,834 14,697 33,477 11,607 31,108 2,731 Audit fees 49,876 24,859 9,399 9,842 29,760 12,842 Directors fees and expenses (Note 3.8) 2,638 1,597 700 932 2,685 518 Amortisation of formation expenses (Note 2.8) 22,539 605 726 Bank charges 906 1,152 994 6 10 Other expenses 12,363 5,104 975 1,394 3,354 1,035 2,995,157 1,203,527 830,143 1,120,709 2,152,234 645,992 Net investment income/(deficit) (678,857) 3,465,637 104,766 (299,579) 5,263,955 (402,970) The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 44

Statement of Operations (continued) for the year ended 30 June 2014 (expressed in United States Dollars) U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Combined for the year ended 30 June 2014 Income Dividends (Note 2.3) 526,555 60,556,093 Bond interest (Note 2.3) 7,308,770 280,779 22,197,161 Deposit interest (Note 2.3) 7,368 Other income 51 4,046 7,835,376 280,779 82,764,668 Expenses Management fees (Note 3.1) 1,441,176 200,345 48,242,000 Administration fees (Note 3.3) 144,805 45,312 4,356,887 Custodian fees (Note 3.3) 11,832 5,867 1,913,618 Taxation (Note 4) 58,982 7,518 2,085,835* Printing and publishing expenses 14,758 3,756 423,942 Legal and other professional fees 27,593 4,721 1,026,977 Audit fees 22,222 6,628 688,181 Directors fees and expenses (Note 3.8) 1,940 370 57,565 Amortisation of formation expenses (Note 2.8) 880 52,174 Bank charges 33 24,769 Other expenses 2,502 628 109,845 1,726,723 275,145 58,981,793 Net investment income/(deficit) 6,108,653 5,634 23,782,875 The Notes to the Financial Statements form an integral part of these financial statements. * The figures for the year ended 30 June 2014 related to taxation and net profits (losses) realised on foreign currency have been reclassified to ensure comparability with the figures for the year ended 30 June 2015. 45 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION for the year ended 30 June 2015 (expressed in United States Dollars) American Growth Fund Class A Class AA Class AA (HKD) Class HA Class HC Class HI Class I Class I3 2015 Total Net Assets 206,729,561 5,406,817 2,556 71,254 70,665 72,126 11,934,820 618,858 Number of Shares in Issue 6,888,537 3,171,325 1,870 50,000 50,000 50,000 8,068,798 619,199 Net Asset Value per share 30.0107 1.7049 10.5950* 1.4251 1.4133 1.4425 1.4791 0.9994 2014 Total Net Assets 227,691,017 5,398,564 66,837 66,485 67,357 7,501,077 Number of Shares in Issue 8,152,264 3,393,914 50,000 50,000 50,000 5,472,976 Net Asset Value per share 27.9298 1.5907 1.3367 1.3297 1.3471 1.3706 2013 Total Net Assets 206,163,040 867,813 54,931 54,806 55,115 1,055,340 Number of Shares in Issue 9,054,935 667,602 50,000 50,000 50,000 948,378 Net Asset Value per share 22.7680 1.2999 1.0986 1.0961 1.1023 1.1128 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 46

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Class AA Asia Total Return Fund Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I Class J 2015 Total Net Assets 127,687 70,956 11,334,974 50,108 49,417 50,723 38,984,697 41,660,995 Number of Shares in Issue 128,500 55,363 11,986,972 53,366 52,660 53,992 35,052,756 42,414,799 Net Asset Value per share 0.9937 9.9356* 0.9456 0.9389 0.9384 0.9395 1.1122 0.9822 2014 Total Net Assets 17,136,020 50,851 50,404 51,248 40,103,194 Number of Shares in Issue 17,406,184 52,004 51,572 52,387 34,489,028 Net Asset Value per share 0.9845 0.9778 0.9773 0.9783 1.1628 2013 Total Net Assets 28,880,921 48,821 48,635 48,986 26,099,028 Number of Shares in Issue 29,750,028 50,712 50,543 50,862 23,277,359 Net Asset Value per share 0.9708 0.9627 0.9622 0.9631 1.1212 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. 47 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Asia Value Dividend Equity Fund Asian Equity Fund Class AA Class AA Inc Class A Class AA Class I Class I3 2015 Total Net Assets 18,456,455 733,815 83,537,158 7,833,086 20,306,118 388,572 Number of Shares in Issue 9,952,857 647,958 24,451,712 7,125,242 16,027,634 401,900 Net Asset Value per share 1.8544 1.1325 3.4164 1.0993 1.2669 0.9668 2014 Total Net Assets 15,217,419 87,047,620 4,196,246 21,432,515 Number of Shares in Issue 9,518,516 26,527,588 3,980,079 17,702,134 Net Asset Value per share 1.5987 3.2814 1.0543 1.2107 2013 Total Net Assets 16,145,996 82,363,206 3,357,363 635,891 Number of Shares in Issue 11,037,387 29,758,531 3,776,928 622,913 Net Asset Value per share 1.4628 2.7677 0.8889 1.0208 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 48

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Asian Small Cap Equity Fund Class AA Class AA (HKD) Class HA Class HC Class HI Class I 2015 Total Net Assets 192,322,054 576,529 70,044 69,464 71,106 240,279,079 Number of Shares in Issue 80,376,809 461,705 50,027 50,000 50,232 143,253,663 Net Asset Value per share 2.3928 9.6801* 1.4001 1.3893 1.4155 1.6773 2014 Total Net Assets 187,700,224 70,801 70,427 71,484 244,081,853 Number of Shares in Issue 78,179,391 50,027 50,000 50,217 145,275,273 Net Asset Value per share 2.4009 1.4152 1.4085 1.4235 1.6801 2013 Total Net Assets 146,197,519 59,405 59,271 59,650 57,114,984 Number of Shares in Issue 72,555,382 50,000 50,000 50,000 40,789,269 Net Asset Value per share 2.0150 1.1881 1.1854 1.1930 1.4002 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. 49 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) China Value Fund Class A Class AA Class HA Class HC Class HI 2015 Total Net Assets 1,102,769,712 26,606,731 75,419 74,793 692,007 Number of Shares in Issue 112,168,827 8,640,678 50,123 50,000 453,714 Net Asset Value per share 9.8313 3.0792 1.5047 1.4959 1.5252 2014 Total Net Assets 956,080,188 22,584,500 60,759 60,439 367,740 Number of Shares in Issue 120,779,818 9,107,332 50,000 50,000 300,754 Net Asset Value per share 7.9159 2.4798 1.2152 1.2088 1.2227 2013 Total Net Assets 955,328,287 24,693,678 53,694 53,572 53,873 Number of Shares in Issue 136,848,571 11,289,454 50,000 50,000 50,000 Net Asset Value per share 6.9809 2.1873 1.0739 1.0714 1.0775 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 50

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Class A Class AA (HKD)** Class A Class AA Class A Class AA Class I Class I3 2015 Total Net Assets 103,945,990 50,981,078 105,121,041 4,544,530 86,354,842 6,159,168 4,818,944 405,503 Number of Shares in Issue 45,553,691 35,793,624 31,554,087 3,175,020 7,841,983 7,731,749 4,718,603 415,114 Net Asset Value per share 2.2818 11.0415* 3.3315 1.4313 11.0119 0.7966 1.0213 0.9768 2014 Total Net Assets 74,770,266 24,436,805 163,051,965 6,796,919 104,100,235 6,816,800 6,507,067 Number of Shares in Issue 39,378,068 20,572,221 34,555,028 3,357,458 8,753,712 7,954,667 5,954,310 Net Asset Value per share 1.8988 9.2065* 4.7186 2.0244 11.8921 0.8570 1.0928 2013 Total Net Assets 64,969,128 11,715,906 169,551,194 6,996,701 65,349,406 174,223 Number of Shares in Issue 41,160,693 11,867,148 38,766,851 3,722,739 6,738,851 250,788 Net Asset Value per share 1.5784 7.6595* 4.3736 1.8794 9.6974 0.6947 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. 51 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Global Contrarian Fund Class AA Class HA Class HC Class HI Class I2 Class I3 Class S 2015 Total Net Assets 21,334,410 51,834 51,404 52,480 57,098 613,911 877 Number of Shares in Issue 22,466,028 50,000 50,000 50,057 50,000 627,790 1,149 Net Asset Value per share 0.9496 1.0367 1.0281 1.0484 1.1420 0.9779 1.0281** 2014 Total Net Assets 28,731,042 53,487 53,204 53,915 177,683 8,745 Number of Shares in Issue 29,504,742 50,000 50,000 50,000 151,567 11,095 Net Asset Value per share 0.9738 1.0697 1.0641 1.0783 1.1723 0.9836** 2013 Total Net Assets 32,117,286 44,645 44,543 44,806 7,745,653 13,933 Number of Shares in Issue 39,770,723 50,000 50,000 50,000 8,029,195 19,924 Net Asset Value per share 0.8076 0.8929 0.8909 0.8961 0.9647 0.8872** ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 52

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Global Property Fund Global Resources Fund Greater China Opportunities Fund Class AA Class AA (HKD) Class AA Class AA Class I Class I3 2015 Total Net Assets 16,752,887 29,200 33,715,806 2,817,049 15,204,915 686,073 Number of Shares in Issue 16,789,166 24,155 43,700,128 2,496,826 6,351,712 700,060 Net Asset Value per share 0.9978 9.3715* 0.7715 1.1283 2.3938 0.9800 2014 Total Net Assets 19,043,197 53,363,088 2,591 11,342,362 Number of Shares in Issue 19,398,507 49,863,076 2,585 5,359,805 Net Asset Value per share 0.9817 1.0702 1.0025 2.1162 2013 Total Net Assets 18,945,193 51,841,235 9,623,781 Number of Shares in Issue 20,298,524 58,402,645 5,256,214 Net Asset Value per share 0.9333 0.8877 1.8309 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. 53 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Healthcare Fund India Equity Fund International Growth Fund Class AA Class I3 Class AA Class I2 Class A Class AA 2015 Total Net Assets 294,997,637 712,609 186,124,829 11,708,129 13,117,249 4,912,996 Number of Shares in Issue 147,944,325 710,936 133,163,881 11,893,449 2,728,294 4,450,975 Net Asset Value per share 1.9940 1.0024 1.3977 0.9844 4.8079 1.1038 2014 Total Net Assets 153,019,678 169,782,591 15,278,278 3,992,264 Number of Shares in Issue 90,581,975 134,550,316 3,278,892 3,727,711 Net Asset Value per share 1.6893 1.2619 4.6596 1.0710 2013 Total Net Assets 41,158,290 156,662,960 9,218,379 1,090,740 Number of Shares in Issue 29,837,893 161,690,585 2,437,403 1,251,479 Net Asset Value per share 1.3794 0.9689 3.7821 0.8716 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 54

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Japanese Growth Fund Latin America Equity Fund Russia Equity Fund Class A Class AA Class I3 Class AA Class AA 2015 Total Net Assets 34,568,619 3,751,106 464,807 59,999,330 101,753,093 Number of Shares in Issue 9,790,905 4,131,004 457,039 69,129,647 226,397,713 Net Asset Value per share 3.5307 0.9080 1.0170 0.8679 0.4494 2014 Total Net Assets 37,406,665 498,695 100,610,210 124,531,352 Number of Shares in Issue 11,156,304 580,613 86,421,450 203,342,136 Net Asset Value per share 3.3530 0.8589 1.1642 0.6124 2013 Total Net Assets 41,375,937 506,537 110,691,249 137,711,776 Number of Shares in Issue 13,099,413 624,753 105,811,050 236,555,171 Net Asset Value per share 3.1586 0.8108 1.0461 0.5822 The Notes to the Financial Statements form an integral part of these financial statements. 55 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Strategic Income Fund Class AA Class HA Class HC Class HI Class I2 Class J Class S Hedged 2015 Total Net Assets 31,604,331 50,895 50,195 51,517 1,036,689 24,704,230 Number of Shares in Issue 29,295,254 53,753 53,042 54,394 1,020,129 35,991,913 Net Asset Value per share 1.0788 0.9468 0.9463 0.9471 1.0162 0.9238** 2014 Total Net Assets 36,550,901 51,814 51,359 52,221 1,337,665 20,181,286 30,608,777 Number of Shares in Issue 32,084,387 52,146 51,709 52,538 1,194,937 18,045,350 39,491,260 Net Asset Value per share 1.1392 0.9936 0.9932 0.9940 1.1194 1.1184 0.9672** 2013 Total Net Assets 42,658,487 49,673 49,484 49,842 1,392,775 19,017,315 25,053,725 Number of Shares in Issue 37,967,428 50,675 50,507 50,825 1,274,105 17,072,555 32,760,533 Net Asset Value per share 1.1236 0.9802 0.9798 0.9807 1.0931 1.1139 0.9703** ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 56

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Taiwan Turkey Equity Fund Equity Fund Class AA Class AA 2015 Total Net Assets 32,315,901 40,801,352 Number of Shares in Issue 18,809,293 51,547,433 Net Asset Value per share 1.7181 0.7915 2014 Total Net Assets 39,705,731 51,227,603 Number of Shares in Issue 24,591,265 53,285,512 Net Asset Value per share 1.6146 0.9614 2013 Total Net Assets 36,878,339 50,033,028 Number of Shares in Issue 27,338,429 52,403,344 Net Asset Value per share 1.3490 0.9548 The Notes to the Financial Statements form an integral part of these financial statements. 57 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Class AA Class AA (HKD) U.S. Bond Fund Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I Class I3 2015 Total Net Assets 130,515,588 12,479 118,392 1,906,962 51,744 51,031 52,378 13,728,665 1,539,310 Number of Shares in Issue 108,027,842 9,779 93,651 1,934,170 54,711 53,985 55,357 13,581,746 1,550,545 Net Asset Value per share 1.2082 9.8928* 9.8002* 0.9859 0.9458 0.9453 0.9462 1.0108 0.9928 2014 Total Net Assets 142,835,090 51,814 51,359 52,218 1,183,652 Number of Shares in Issue 114,307,087 53,101 52,655 53,495 1,178,605 Net Asset Value per share 1.2496 0.9758 0.9754 0.9761 1.0043 2013 Total Net Assets 152,426,184 49,254 49,067 49,419 Number of Shares in Issue 123,063,711 50,935 50,766 51,084 Net Asset Value per share 1.2386 0.9670 0.9665 0.9674 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 58

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) U.S. Small Cap Equity Fund Class AA Class HA Class HC Class HI Class I Class I3 2015 Total Net Assets 27,607,859 59,942 59,446 60,680 642,692 Number of Shares in Issue 23,304,506 50,000 50,000 50,000 621,340 Net Asset Value per share 1.1847 1.1988 1.1889 1.2136 1.0344 2014 Total Net Assets 32,022,767 58,154 57,847 58,607 719,417 Number of Shares in Issue 28,028,764 50,000 50,000 50,000 671,106 Net Asset Value per share 1.1425 1.1631 1.1569 1.1721 1.0720 2013 Total Net Assets 25,236,715 49,768 49,655 49,935 Number of Shares in Issue 25,967,829 50,000 50,000 50,000 Net Asset Value per share 0.9718 0.9954 0.9931 0.9987 The Notes to the Financial Statements form an integral part of these financial statements. 59 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Class AA Class AA Inc Class I Class T Class AA 2015 Total Net Assets 69,607,012 10,750,026 5,146,079 571,771 8,379,924 Number of Shares in Issue 76,064,369 11,816,677 5,451,939 546,639 6,530,561 Net Asset Value per share 0.9151 0.9097 0.9439 1.0460 1.2832 2014 Total Net Assets 125,582,908 1,987,893 8,555,478 13,007,109 Number of Shares in Issue 120,673,150 1,963,173 7,061,470 9,838,985 Net Asset Value per share 1.0407 1.0126 1.2116 1.3220 2013 Total Net Assets 95,311,853 1,243,102 20,668,066 Number of Shares in Issue 98,543,845 1,100,550 16,136,583 Net Asset Value per share 0.9672 1.1295 1.2808 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 60

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) American Growth Fund Class A Class AA Class AA (HKD) Class HA Class HC Class HI Class I Class I3 2015 Highest Subscription Price 30.9048 1.7558 10.3684* 1.4884 1.0206 Lowest Redemption Price 26.2794 1.4951 10.2508* 1.3386 2014 Highest Subscription Price 27.9010 1.5891 1.3623 Lowest Redemption Price 22.7680 1.3114 1.1821 2013 Highest Subscription Price 23.6779 1.3522 1.0000 1.0000 1.0000 1.1391 Lowest Redemption Price 18.3175 1.0618 1.0268 2012 Highest Subscription Price 19.9163 1.1407 Lowest Redemption Price 14.6956 0.8904 2011 Highest Subscription Price 19.0071 1.0766 Lowest Redemption Price 13.8594 0.9190 2010 Highest Subscription Price 16.4352 0.9458 Lowest Redemption Price 12.1162 0.8197 2009 Highest Subscription Price 18.1283 1.0000 Lowest Redemption Price 9.5537 0.5706 2008 Highest Subscription Price 21.9915 Lowest Redemption Price 17.1141 2007 Highest Subscription Price 21.8240 Lowest Redemption Price 17.2342 2006 Highest Subscription Price 19.0417 Lowest Redemption Price 16.4751 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. 61 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Class AA Asia Total Return Fund Class AA (HKD) Inc Class AA Inc** Class HA Class HC Class HI Class I Class J 2015 Highest Subscription Price 1.0032 10.0935* 0.9907 0.9816 0.9812 0.9819 1.1723 1.0000 Lowest Redemption Price 0.9845 0.9426 1.1051 0.9873 2014 Highest Subscription Price 0.9857 0.9781 0.9776 0.9785 1.1556 Lowest Redemption Price 0.9410 1.1063 2013 Highest Subscription Price 1.0465 1.0297 1.0294 1.0301 1.1907 Lowest Redemption Price 0.9613 1.1578 2012 Highest Subscription Price 1.0143 1.1720 Lowest Redemption Price 0.9210 1.0812 2011 Highest Subscription Price 1.0052 1.1531 Lowest Redemption Price 0.9897 2010 Highest Subscription Price 1.0483 Lowest Redemption Price 2009 Highest Subscription Price Lowest Redemption Price 2008 Highest Subscription Price Lowest Redemption Price 2007 Highest Subscription Price Lowest Redemption Price 2006 Highest Subscription Price Lowest Redemption Price * Expressed in Hong Kong Dollars ** Previously Class AA until 15 June 2014 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 62

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Asia Value Dividend Equity Fund Asian Equity Fund Asian Opportunities Fund Class AA Class AA Inc Class A Class AA Class I Class I3 Class I 2015 Highest Subscription Price 1.9117 1.1545 3.5969 1.1579 1.3312 1.0000 Lowest Redemption Price 1.5950 1.1259 2.9856 0.9620 1.1381 0.9690 2014 Highest Subscription Price 1.6015 3.2740 1.0521 1.2076 Lowest Redemption Price 1.4241 2.7242 0.8752 1.0986 2013 Highest Subscription Price 1.5757 3.0591 0.9828 1.0628 Lowest Redemption Price 1.2040 2.3580 0.7688 1.0626 2012 Highest Subscription Price 1.4585 3.2026 1.0300 1.0000 1.8472 Lowest Redemption Price 1.0742 2.2109 0.7108 0.8606 1.8472 2011 Highest Subscription Price 1.4613 3.1776 1.0227 2.0279 Lowest Redemption Price 1.1227 2.2551 0.7490 2.0057 2010 Highest Subscription Price 1.2198 2.5482 0.8172 1.7154 Lowest Redemption Price 0.9996 1.9091 0.7098 2009 Highest Subscription Price 2.5510 0.8064 1.0773 Lowest Redemption Price 1.2741 0.4087 2008 Highest Subscription Price 3.4168 1.0242 Lowest Redemption Price 2.4731 0.7980 2007 Highest Subscription Price 2.7347 Lowest Redemption Price 1.8473 2006 Highest Subscription Price 2.2156 Lowest Redemption Price 1.6194 The Notes to the Financial Statements form an integral part of these financial statements. 63 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Asian Small Cap Equity Fund Class AA Class AA (HKD) Class HA Class HC Class HI Class I Class I3 2015 Highest Subscription Price 2.5499 10.3216* 1.3492 1.7865 1.0000 Lowest Redemption Price 2.0659 8.8786* 1.4430 0.9956 2014 Highest Subscription Price 2.3941 1.2597 1.2627 1.6748 Lowest Redemption Price 1.9656 1.3844 2013 Highest Subscription Price 2.2452 1.0000 1.0000 1.0000 1.5587 Lowest Redemption Price 1.4389 1.0619 2012 Highest Subscription Price 1.7656 1.0902 Lowest Redemption Price 1.2721 1.0293 2011 Highest Subscription Price 1.7264 Lowest Redemption Price 1.1687 2010 Highest Subscription Price 1.2816 Lowest Redemption Price 0.8485 2009 Highest Subscription Price 1.0840 Lowest Redemption Price 0.5194 2008 Highest Subscription Price 1.5141 Lowest Redemption Price 1.1241 2007 Highest Subscription Price 1.4047 Lowest Redemption Price 0.9956 2006 Highest Subscription Price Lowest Redemption Price * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 64

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) China Value Fund Dragon Growth Fund Class A Class AA Class HA Class HC Class HI Class A Class AA Class AA (HKD)** 2015 Highest Subscription Price 10.7351 3.3637 1.2649 1.3084 2.4947 9.2065 12.0750* Lowest Redemption Price 7.9159 2.4798 1.3281 1.8809 1.1879 1.2359* 2014 Highest Subscription Price 8.1394 2.5526 1.1968 1.9524 9.4859* Lowest Redemption Price 6.8227 2.1376 1.5323 7.4322* 2013 Highest Subscription Price 7.9309 2.4875 1.0000 1.0000 1.0000 1.7078 8.2703* Lowest Redemption Price 5.9286 1.8654 1.3274 6.5642* 2012 Highest Subscription Price 8.5414 2.6750 1.7857 8.6692* Lowest Redemption Price 5.5589 1.7401 1.1757 5.7135* 2011 Highest Subscription Price 8.9501 2.8048 1.9059 9.2425* Lowest Redemption Price 6.4094 2.0125 1.4552 7.2295* 2010 Highest Subscription Price 7.2943 2.2931 1.7041 8.2824* Lowest Redemption Price 5.6445 1.7777 1.2325 6.7111* 2009 Highest Subscription Price 6.6416 2.0886 1.6577 7.8152* Lowest Redemption Price 3.5574 1.1179 0.8192 4.1564* 2008 Highest Subscription Price 9.5102 2.9960 2.2798 10.4704* Lowest Redemption Price 6.3948 2.0126 1.5906 8.0251* 2007 Highest Subscription Price 7.1161 2.2461 1.7618 Lowest Redemption Price 4.4921 1.4158 1.1974 2006 Highest Subscription Price 5.0297 1.5897 1.2772 Lowest Redemption Price 3.4651 1.0899 1.0143 * Expressed in Hong Kong Dollars ** Previously Class AA until 15 June 2014 The Notes to the Financial Statements form an integral part of these financial statements. 65 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Emerging Eastern Europe Fund Emerging Markets Infrastructure European Fund a Growth Fund Class A Class AA Class AA Class A Class AA Class I Class I3 Class J 2015 Highest Subscription Price 4.7675 2.0453 12.0637 0.8677 1.1026 1.0000 Lowest Redemption Price 2.8718 1.2345 9.9646 0.7194 0.9389 1.0066 2014 Highest Subscription Price 5.2725 2.2639 12.1504 0.8727 1.1165 Lowest Redemption Price 3.8533 1.6532 9.6421 0.7304 1.1004 2013 Highest Subscription Price 5.0224 2.1559 1.0487 10.4577 0.7428 Lowest Redemption Price 4.0255 1.7261 0.9166 7.7090 0.5844 2012 Highest Subscription Price 5.7522 2.4679 1.0065 10.3359 0.7260 Lowest Redemption Price 3.4927 1.4977 0.8737 7.1078 0.5357 2011 Highest Subscription Price 6.1877 2.6520 10.8135 0.7503 Lowest Redemption Price 4.0164 1.7302 7.6911 0.6320 1.6303 2010 Highest Subscription Price 5.2258 2.2491 9.5608 0.6715 1.6008 Lowest Redemption Price 2.8869 1.3240 6.8327 0.5504 1.5507 2009 Highest Subscription Price 6.3929 2.7685 12.2815 0.8531 1.2491 Lowest Redemption Price 1.8869 0.8169 4.7266 0.5106 2008 Highest Subscription Price 7.1965 3.1152 14.7358 1.0000 Lowest Redemption Price 5.3390 2.3001 11.7579 2007 Highest Subscription Price 5.9244 2.5509 14.1995 Lowest Redemption Price 1.8719 1.7964 10.4359 2006 Highest Subscription Price 5.4440 2.3483 12.3453 Lowest Redemption Price 3.1320 1.3522 8.3752 a Liquidated on 28 June 2013 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 66

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Global Contrarian Fund Class AA Class HA Class HC Class HI Class I Class I2 Class I3 Class J Class S 2015 Highest Subscription Price 0.9892 1.0371 1.1633 1.0134 1.0571** Lowest Redemption Price 0.8766 1.1674 1.0387** 2014 Highest Subscription Price 0.9797 1.1292 0.9574** Lowest Redemption Price 0.8076 1.0702 0.9624** 2013 Highest Subscription Price 0.9253 1.0000 1.0000 1.0000 0.6788 1.0976 1.0023** Lowest Redemption Price 0.7772 0.6786 1.0500 2012 Highest Subscription Price 1.1355 0.9504 1.1243 Lowest Redemption Price 0.7179 0.7430 1.0105 2011 Highest Subscription Price 1.2343 1.0387 Lowest Redemption Price 0.8786 0.9522 2.5265 2010 Highest Subscription Price 0.9943 Lowest Redemption Price 0.6307 2.0095 2009 Highest Subscription Price 0.9995 1.3157 Lowest Redemption Price 0.3902 2008 Highest Subscription Price 1.0000 Lowest Redemption Price 2007 Highest Subscription Price Lowest Redemption Price 2006 Highest Subscription Price Lowest Redemption Price ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements. 67 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Class AA Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund Class AA (HKD) Class J Class AA Class AA Class I Class I3 Class AA Class I3 2015 Highest Subscription Price 1.0724 10.0000* 1.0984 1.2242 2.5544 1.0000 2.0489 1.0000 Lowest Redemption Price 0.9343 0.7571 0.9586 2.1316 1.6355 2014 Highest Subscription Price 0.9917 1.0856 1.0000 2.1660 1.6907 Lowest Redemption Price 0.8626 0.8877 2.0663 1.3728 2013 Highest Subscription Price 1.0444 1.1026 1.8206 1.4474 Lowest Redemption Price 0.8304 0.8806 1.7856 1.1110 2012 Highest Subscription Price 0.8503 1.3460 1.6386 1.1482 Lowest Redemption Price 0.6196 0.9084 1.3489 0.8686 2011 Highest Subscription Price 0.8549 1.3971 1.9945 1.1571 Lowest Redemption Price 0.6283 1.6645 0.9729 1.8333 0.8552 2010 Highest Subscription Price 0.7320 1.5449 1.1597 1.7584 1.0199 Lowest Redemption Price 0.4973 1.4907 0.8120 1.6059 0.7776 2009 Highest Subscription Price 0.8245 1.2333 1.5785 1.0967 1.0763 Lowest Redemption Price 0.3266 0.4852 0.6806 2008 Highest Subscription Price 1.0932 1.6322 1.0000 Lowest Redemption Price 0.8056 1.0257 2007 Highest Subscription Price 1.0635 1.2442 Lowest Redemption Price 1.0147 0.9684 2006 Highest Subscription Price Lowest Redemption Price * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 68

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) India Equity Fund International Growth Fund Japanese Growth Fund Latin America Equity Fund Russia Equity Fund Class AA Class I2 Class A Class AA Class A Class AA Class I3 Class AA Class AA 2015 Highest Subscription Price 1.5498 1.0623 4.9464 1.1341 3.6082 0.9278 1.0000 1.2570 0.6287 Lowest Redemption Price 1.2369 0.9471 4.2005 1.0078 2.9446 0.7655 1.0170 0.8281 0.3105 2014 Highest Subscription Price 1.2690 4.6753 1.0730 3.3514 0.8582 1.1824 0.6954 Lowest Redemption Price 0.7660 3.7821 0.9092 2.9293 0.7509 0.9448 0.4878 2013 Highest Subscription Price 1.0965 3.9935 0.9205 3.4261 0.8797 1.2951 0.6889 Lowest Redemption Price 0.8849 3.0982 0.7439 2.3753 0.6307 0.9978 0.5659 2012 Highest Subscription Price 1.2382 3.4180 0.7870 3.1068 0.7947 1.4237 0.8656 Lowest Redemption Price 0.8296 2.6724 0.6851 2.3619 0.6284 0.9832 0.5045 2011 Highest Subscription Price 1.3613 3.5054 0.7997 3.2136 0.8296 1.4835 0.9279 Lowest Redemption Price 1.0809 2.6765 0.7243 2.5651 0.6671 1.1659 0.5951 2010 Highest Subscription Price 1.1625 3.2066 0.7446 2.9737 0.7751 1.3508 0.7650 Lowest Redemption Price 0.8021 2.4670 0.5793 2.4905 0.7045 0.8590 0.3757 2009 Highest Subscription Price 1.0579 3.9244 0.8792 3.5288 0.8564 1.4996 1.0869 Lowest Redemption Price 0.5086 1.9458 0.5349 1.8959 0.6257 0.5237 0.2323 2008 Highest Subscription Price 1.7469 4.5926 1.0000 4.3493 1.0000 1.6539 1.1536 Lowest Redemption Price 0.9582 3.7725 3.1821 1.0074 1.0683 0.9408 2007 Highest Subscription Price 1.1140 4.4595 4.5158 1.2919 Lowest Redemption Price 0.8545 3.4431 3.8317 0.9509 2006 Highest Subscription Price 3.8719 4.8852 Lowest Redemption Price 3.0066 3.0221 The Notes to the Financial Statements form an integral part of these financial statements. 69 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Strategic Income Fund Class AA Class HA Class HC Class HI Class I Class I2 Class J Class S Hedged 2015 Highest Subscription Price 1.1410 0.9913 0.9911 0.9916 1.0277 1.1071 0.9686** Lowest Redemption Price 1.0624 1.0155 1.0673 0.7054** 2014 Highest Subscription Price 1.1442 0.9941 0.9938 0.9944 1.1017 1.1113 0.9781** Lowest Redemption Price 1.0968 1.0897 0.7640** 2013 Highest Subscription Price 1.1759 1.0235 1.0231 1.0239 1.0578 1.1311 1.1529 1.0227** Lowest Redemption Price 1.1166 1.0332 1.0982 1.1273 0.8278** 2012 Highest Subscription Price 1.1648 1.0382 1.0000 1.1368 Lowest Redemption Price 1.0687 0.9814 1.0792 2011 Highest Subscription Price 1.1560 1.0304 1.1400 Lowest Redemption Price 1.0353 1.0220 1.0933 2010 Highest Subscription Price 1.0641 1.0809 Lowest Redemption Price 0.9997 1.0250 2009 Highest Subscription Price 1.0000 Lowest Redemption Price 2008 Highest Subscription Price Lowest Redemption Price 2007 Highest Subscription Price Lowest Redemption Price 2006 Highest Subscription Price Lowest Redemption Price ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 70

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Taiwan Turkey Equity Fund Equity Fund Class AA Class AA 2015 Highest Subscription Price 1.7649 1.0425 Lowest Redemption Price 1.4524 0.7269 2014 Highest Subscription Price 1.5992 1.0322 Lowest Redemption Price 1.3207 0.7207 2013 Highest Subscription Price 1.4280 1.2442 Lowest Redemption Price 1.1502 0.8228 2012 Highest Subscription Price 1.4107 0.9689 Lowest Redemption Price 1.0375 0.6427 2011 Highest Subscription Price 1.3930 1.1676 Lowest Redemption Price 0.9508 0.7846 2010 Highest Subscription Price 1.0995 0.8891 Lowest Redemption Price 0.8533 0.5164 2009 Highest Subscription Price 1.0400 0.8194 Lowest Redemption Price 0.5089 0.2686 2008 Highest Subscription Price 1.2415 1.0891 Lowest Redemption Price 0.9651 0.6258 2007 Highest Subscription Price 1.1341 Lowest Redemption Price 0.9587 2006 Highest Subscription Price Lowest Redemption Price The Notes to the Financial Statements form an integral part of these financial statements. 71 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) Class AA Class AA (HKD) U.S. Bond Fund Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I Class I3 2015 Highest Subscription Price 1.2605 10.0274* 10.0495* 1.0129 0.9730 0.9727 0.9733 1.0293 1.0000 Lowest Redemption Price 1.1993 9.8803* 9.9177* 1.0006 1.0020 2014 Highest Subscription Price 1.2656 0.9748 0.9743 0.9752 1.0000 Lowest Redemption Price 1.1972 2013 Highest Subscription Price 1.2901 1.0081 1.0077 1.0084 Lowest Redemption Price 1.2347 2012 Highest Subscription Price 1.2419 Lowest Redemption Price 1.1724 2011 Highest Subscription Price 1.2222 Lowest Redemption Price 1.1575 2010 Highest Subscription Price 1.1684 Lowest Redemption Price 1.0430 2009 Highest Subscription Price 1.0641 Lowest Redemption Price 0.9309 2008 Highest Subscription Price 1.0720 Lowest Redemption Price 1.0106 2007 Highest Subscription Price 1.2053 Lowest Redemption Price 0.9722 2006 Highest Subscription Price Lowest Redemption Price * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 72

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) U.S. Small Cap Equity Fund Class AA Class HA Class HC Class HI Class I Class I3 2015 Highest Subscription Price 1.2098 1.0686 1.0336 Lowest Redemption Price 1.0211 0.9893 1.0379 2014 Highest Subscription Price 1.1717 1.0571 Lowest Redemption Price 0.9718 1.0381 2013 Highest Subscription Price 0.9950 1.0000 1.0000 1.0000 Lowest Redemption Price 0.8468 2012 Highest Subscription Price 1.1199 Lowest Redemption Price 0.6518 2011 Highest Subscription Price 1.1511 Lowest Redemption Price 0.7956 2010 Highest Subscription Price 1.0288 Lowest Redemption Price 0.6046 2009 Highest Subscription Price 0.9488 Lowest Redemption Price 0.4176 2008 Highest Subscription Price 1.2174 Lowest Redemption Price 0.9115 2007 Highest Subscription Price 1.0122 Lowest Redemption Price 0.9959 2006 Highest Subscription Price Lowest Redemption Price The Notes to the Financial Statements form an integral part of these financial statements. 73 MANULIFE GLOBAL FUND

STATISTICAL INFORMATION (continued) for the year ended 30 June 2015 (expressed in United States Dollars) U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund U.S.Value Fund Class AA Class AA (HKD) Class AA Inc Class I Class J Class T Class AA Class J 2015 Highest Subscription Price 1.0425 10.0000* 1.0010 1.0126 1.2137 1.3307 Lowest Redemption Price 0.8807 9.5989* 0.9157 0.9370 1.0529 1.2685 2014 Highest Subscription Price 1.0408 1.0021 1.2117 1.3224 Lowest Redemption Price 0.9672 1.1311 1.2522 2013 Highest Subscription Price 1.0201 1.1919 1.4119 Lowest Redemption Price 0.8578 1.0701 1.2588 1.0687 2012 Highest Subscription Price 1.0032 1.0000 1.3852 Lowest Redemption Price 0.7076 1.2464 2011 Highest Subscription Price 1.0661 1.6677 1.2573 Lowest Redemption Price 0.8502 1.4841 1.1701 0.9520 2010 Highest Subscription Price 0.9410 1.2455 1.1833 0.8881 Lowest Redemption Price 0.5975 1.2404 1.0843 0.8488 2009 Highest Subscription Price 0.8096 1.0896 1.1663 1.0000 Lowest Redemption Price 0.4193 0.9777 2008 Highest Subscription Price 1.0147 1.1634 Lowest Redemption Price 0.7761 1.0175 2007 Highest Subscription Price 1.0210 1.0315 Lowest Redemption Price 1.0039 1.0025 2006 Highest Subscription Price Lowest Redemption Price * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 74

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) as at 30 June 2015 and 30 June 2014 30 June 2015 American Growth Fund 30 June 2014 30 June 2015 Asia Total Return Fund 30 June 2014 30 June 2015 Asia Value Dividend Equity Fund 30 June 2014 30 June 2015 Asian Equity Fund 30 June 2014 Asset backed and mortgage backed securities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Basic materials 0.00% 0.00% 6.26% 6.53% 1.01% 2.70% 3.62% 6.77% Communications 17.71% 15.43% 4.33% 6.67% 3.54% 7.68% 6.83% 5.29% Consumer, cyclical 16.46% 12.24% 2.77% 4.93% 20.35% 22.32% 14.98% 15.33% Consumer, Non-cyclical 3.02% 5.52% 2.81% 1.24% 3.99% 2.06% 3.25% 1.27% Energy 8.87% 13.16% 8.02% 6.32% 3.69% 6.01% 0.00% 6.42% Financials 25.80% 23.69% 31.40% 35.64% 31.61% 27.19% 28.99% 15.20% Funds 0.00% 0.00% 0.00% 0.68% 0.00% 0.00% 0.00% 0.00% Healthcare 7.98% 6.83% 0.00% 0.00% 0.85% 0.00% 5.99% 2.82% Industrials 4.19% 5.15% 7.19% 8.49% 13.38% 10.88% 20.72% 24.77% Real Estate 1.53% 0.00% 0.27% 0.83% 7.99% 8.39% 0.58% 0.48% Supranationals, governments and local public authorities 0.00% 0.00% 26.72% 21.78% 0.00% 0.00% 0.00% 0.00% Technology 13.36% 16.54% 0.88% 0.00% 6.44% 9.19% 9.63% 15.08% Utilities 0.00% 0.00% 1.92% 1.86% 4.37% 4.76% 1.53% 6.40% Total Securities 98.92% 98.56% 92.57% 94.97% 97.22% 101.18% 96.12% 99.83% 75 MANULIFE GLOBAL FUND

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 Asian Small Cap Equity Fund 30 June 2015 30 June 2014 30 June 2015 China Value Fund 30 June 2014 30 June 2015 Dragon Growth Fund 30 June 2014 30 June 2015 Emerging Eastern Europe Fund 30 June 2014 Asset backed and mortgage backed securities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Basic materials 7.16% 4.65% 0.45% 0.47% 0.83% 0.97% 6.17% 4.65% Communications 5.43% 5.45% 8.38% 5.26% 15.90% 14.84% 5.97% 6.41% Consumer, cyclical 20.17% 21.48% 8.74% 14.51% 6.17% 8.91% 6.99% 7.26% Consumer, Non-cyclical 2.67% 2.73% 0.53% 1.52% 0.92% 0.91% 11.46% 7.11% Energy 1.07% 4.07% 7.05% 13.34% 5.30% 10.48% 27.70% 32.00% Financials 7.45% 5.19% 35.85% 16.95% 39.29% 36.98% 29.78% 33.11% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.12% 1.04% Healthcare 13.34% 5.40% 4.27% 6.63% 2.13% 5.90% 0.00% 0.00% Industrials 26.17% 29.02% 12.49% 12.41% 16.81% 16.14% 6.00% 4.24% Real Estate 0.00% 1.06% 3.80% 4.79% 1.95% 1.16% 0.00% 0.00% Supranationals, governments and local public authorities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Technology 7.09% 16.53% 6.89% 15.61% 3.95% 0.00% 0.00% 0.00% Utilities 0.67% 3.64% 9.52% 2.88% 3.52% 3.38% 2.04% 2.41% Total Securities 91.22% 99.22% 97.97% 94.37% 96.77% 99.67% 97.23% 98.23% MANULIFE GLOBAL FUND 76

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 European Growth Fund 30 June 2014 Global Contrarian Fund 30 June 2015 30 June 2014 30 June 2015 Global Property Fund 30 June 2014 30 June 2015 Global Resources Fund 30 June 2014 Asset backed and mortgage backed securities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Basic materials 9.32% 7.65% 1.06% 1.56% 0.00% 0.00% 57.88% 54.50% Communications 10.70% 10.52% 10.73% 10.04% 0.00% 0.00% 0.00% 0.00% Consumer, cyclical 10.27% 2.52% 9.01% 5.20% 3.62% 5.14% 0.00% 0.00% Consumer, Non-cyclical 9.64% 8.12% 19.31% 17.27% 0.00% 0.00% 0.00% 0.00% Energy 5.76% 8.37% 3.88% 7.14% 0.00% 0.00% 41.25% 41.47% Financials 21.75% 18.70% 16.57% 15.31% 23.75% 23.12% 0.00% 0.00% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 16.32% 17.31% 14.11% 14.73% 0.00% 0.00% 0.00% 0.00% Industrials 9.72% 10.66% 16.90% 17.83% 1.74% 1.77% 1.24% 2.64% Real Estate 0.00% 0.00% 0.00% 0.00% 69.14% 68.64% 0.00% 0.00% Supranationals, governments and local public authorities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Technology 5.45% 6.94% 7.51% 8.20% 0.00% 0.00% 0.00% 0.00% Utilities 0.30% 3.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Total Securities 99.23% 93.82% 99.08% 97.28% 98.25% 98.67% 100.37% 98.61% 77 MANULIFE GLOBAL FUND

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 Greater China Opportunities Fund 30 June 2014 30 June 2015 Healthcare Fund 30 June 2014 30 June 2015 India Equity Fund 30 June 2014 30 June 2015 International Growth Fund 30 June 2014 Asset backed and mortgage backed securities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Basic materials 1.79% 2.91% 0.00% 0.00% 2.14% 0.77% 5.80% 4.09% Communications 13.63% 9.83% 0.00% 0.00% 0.00% 0.00% 6.51% 7.17% Consumer, cyclical 6.48% 5.65% 3.21% 3.58% 11.76% 12.90% 14.45% 13.99% Consumer, Non-cyclical 1.28% 2.61% 0.00% 0.00% 7.67% 4.15% 8.84% 9.63% Energy 3.87% 7.45% 0.00% 0.00% 9.11% 12.93% 5.15% 9.12% Financials 34.25% 25.01% 0.00% 0.00% 23.33% 24.76% 15.95% 18.24% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 2.40% 6.82% 95.94% 93.91% 8.16% 7.23% 14.73% 12.46% Industrials 19.52% 23.22% 0.62% 0.00% 17.25% 14.98% 9.53% 10.34% Real Estate 0.66% 0.00% 0.00% 0.00% 0.00% 0.00% 1.48% 0.52% Supranationals, governments and local public authorities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Technology 11.64% 12.66% 0.00% 0.00% 18.71% 20.44% 11.80% 11.02% Utilities 3.31% 2.64% 0.00% 0.00% 0.77% 0.00% 2.72% 2.65% Total Securities 98.83% 98.80% 99.77% 97.49% 98.90% 98.16% 96.96% 99.23% MANULIFE GLOBAL FUND 78

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 Japanese Growth Fund 30 June 2014 30 June 2015 Latin America Equity Fund 30 June 2014 30 June 2015 Russia Equity Fund 30 June 2014 30 June 2015 Strategic Income Fund 30 June 2014 Asset backed and mortgage backed securities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.14% 6.77% Basic materials 8.78% 6.54% 6.95% 10.18% 13.50% 13.83% 0.55% 0.79% Communications 12.03% 9.72% 5.22% 2.82% 9.36% 11.38% 8.16% 6.99% Consumer, cyclical 11.99% 27.26% 11.15% 12.73% 3.31% 4.46% 6.14% 4.72% Consumer, Non-cyclical 5.17% 0.00% 13.66% 12.34% 12.47% 9.33% 3.73% 3.54% Energy 3.33% 1.35% 1.70% 6.14% 41.60% 41.53% 1.33% 4.51% Financials 25.84% 22.33% 29.96% 23.27% 13.33% 14.84% 18.51% 19.96% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 4.65% 7.59% 0.00% 2.27% 0.00% 0.00% 9.81% 7.13% Industrials 26.88% 16.11% 19.42% 23.09% 0.00% 0.00% 5.19% 4.86% Real Estate 1.28% 0.10% 5.70% 3.98% 0.00% 0.00% 0.30% 0.33% Supranationals, governments and local public authorities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.80% 33.40% Technology 0.00% 8.19% 3.40% 1.55% 0.00% 0.00% 2.37% 1.57% Utilities 0.00% 0.81% 2.04% 0.00% 4.41% 2.61% 4.49% 4.09% Total Securities 99.95% 100.00% 99.20% 98.37% 97.98% 97.98% 100.52% 98.66% 79 MANULIFE GLOBAL FUND

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 Taiwan Equity Fund 30 June 2014 30 June 2015 Turkey Equity Fund 30 June 2014 30 June 2015 U.S. Bond Fund 30 June 2014 U.S. Small Cap Equity Fund 30 June 2015 30 June 2014 Asset backed and mortgage backed securities 0.00% 0.00% 0.00% 0.00% 41.39% 31.12% 0.00% 0.00% Basic materials 2.81% 2.73% 4.36% 4.74% 1.60% 2.20% 4.56% 5.84% Communications 11.10% 9.93% 3.54% 3.67% 2.84% 3.59% 3.06% 2.54% Consumer, cyclical 4.97% 5.75% 10.87% 8.95% 6.66% 5.02% 17.90% 17.80% Consumer, Non-cyclical 2.34% 0.00% 8.61% 8.42% 1.61% 1.75% 7.26% 4.11% Energy 0.00% 1.14% 3.09% 3.10% 4.23% 5.34% 1.71% 3.74% Financials 15.70% 13.55% 38.59% 38.39% 17.32% 22.14% 14.29% 13.62% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 1.56% 1.59% 0.00% 0.00% 1.78% 1.70% 17.04% 17.03% Industrials 29.58% 29.82% 22.15% 22.39% 3.31% 3.28% 11.78% 20.56% Real Estate 0.00% 0.00% 6.07% 4.36% 0.78% 0.62% 5.91% 2.55% Supranationals, governments and local public authorities 0.00% 0.00% 0.00% 0.00% 12.28% 17.53% 0.00% 0.00% Technology 28.58% 33.33% 0.00% 0.00% 1.09% 1.25% 13.40% 9.26% Utilities 0.00% 0.00% 2.12% 2.12% 1.45% 2.30% 1.69% 1.16% Total Securities 96.64% 97.84% 99.40% 96.14% 96.34% 97.84% 98.60% 98.21% MANULIFE GLOBAL FUND 80

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 U.S. Special Opportunities Fund 30 June 2014 U.S. Treasury Inflation-Protected Securities Fund 30 June 2015 30 June 2014 Asset backed and mortgage backed securities 0.00% 0.00% 0.91% 2.34% Basic materials 4.02% 7.35% 0.00% 0.00% Communications 14.64% 15.17% 0.00% 0.35% Consumer, cyclical 14.59% 19.07% 0.00% 0.00% Consumer, Non-cyclical 5.10% 5.43% 0.00% 0.00% Energy 9.45% 12.98% 0.00% 0.00% Financials 20.02% 15.10% 0.00% 0.00% Funds 0.00% 0.00% 0.00% 0.00% Healthcare 8.57% 7.39% 0.00% 0.00% Industrials 9.38% 6.49% 0.00% 0.00% Real Estate 0.63% 0.81% 0.00% 0.00% Supranationals, governments and local public authorities 0.00% 0.12% 98.88% 96.71% Technology 2.68% 3.62% 0.00% 0.00% Utilities 3.06% 2.90% 0.00% 0.00% Total Securities 92.14% 96.43% 99.79% 99.40% 81 MANULIFE GLOBAL FUND

STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) as at 30 June 2015 and 30 June 2014 30 June 2015 American Growth Fund 30 June 2014 30 June 2015 Asia Total Return Fund 30 June 2014 Asia Value Dividend Equity Fund 30 June 2015 30 June 2014 30 June 2015 Asian Equity Fund USD USD USD USD USD USD USD USD 30 June 2014 Bonds 61,590,132 43,412,474 Bonds convertibles Equities 222,478,498 237,331,116 18,653,345 15,396,183 107,718,638 112,460,226 Funds Mortgage and Asset Backed Securities Rights 53 26,592 Supranationals, Governments and Local Public Authorities, Debt Instruments 23,876,809 11,093,017 Warrants Equity 2,611 Total Portfolio of Investments 222,478,498 237,331,116 85,466,941 54,505,491 18,655,956 15,396,236 107,718,638 112,486,818 MANULIFE GLOBAL FUND 82

STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 Asian Small Cap Equity Fund 30 June 2014 30 June 2015 China Value Fund 30 June 2014 30 June 2015 Dragon Growth Fund 30 June 2014 30 June 2015 Emerging Eastern Europe Fund USD USD USD USD USD USD USD USD 30 June 2014 Bonds Bonds convertibles Equities 395,357,614 428,616,148 1,107,235,365 924,046,997 149,916,065 98,875,371 106,629,064 165,073,938 Funds 1,761,458 Mortgage and Asset Backed Securities Rights Supranationals, Governments and Local Public Authorities, Debt Instruments Warrants Equity Total Portfolio of Investments 395,357,614 428,616,148 1,107,235,365 924,046,997 149,916,065 98,875,371 106,629,064 166,835,396 83 MANULIFE GLOBAL FUND

STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 European Growth Fund 30 June 2014 30 June 2015 Global Contrarian Fund 30 June 2014 30 June 2015 Global Property Fund 30 June 2014 30 June 2015 Global Resources Fund USD USD USD USD USD USD USD USD 30 June 2014 Bonds Bonds convertibles 277,182 Equities 96,988,294 110,119,106 21,958,324 28,287,081 16,477,466 18,786,117 33,842,038 52,343,414 Funds Mortgage and Asset Backed Securities Rights 50,190 Supranationals, Governments and Local Public Authorities, Debt Instruments Warrants Equity 10,367 3,809 Total Portfolio of Investments 96,988,294 110,169,296 21,958,324 28,287,081 16,487,833 18,789,926 33,842,038 52,620,596 MANULIFE GLOBAL FUND 84

STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 Greater China Opportunities Fund 30 June 2014 30 June 2015 Healthcare Fund 30 June 2014 30 June 2015 India Equity Fund 30 June 2014 30 June 2015 International Growth Fund USD USD USD USD USD USD USD USD 30 June 2014 Bonds Bonds convertibles Equities 18,489,034 11,208,604 295,022,749 149,185,256 195,661,137 166,651,565 17,482,411 19,122,604 Funds Mortgage and Asset Backed Securities Rights Supranationals, Governments and Local Public Authorities, Debt Instruments Warrants Equity Total Portfolio of Investments 18,489,034 11,208,604 295,022,749 149,185,256 195,661,137 166,651,565 17,482,411 19,122,604 85 MANULIFE GLOBAL FUND

STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 Japanese Growth Fund 30 June 2014 30 June 2015 Latin America Equity Fund 30 June 2014 30 June 2015 Russia Equity Fund 30 June 2014 30 June 2015 Strategic Income Fund USD USD USD USD USD USD USD USD 30 June 2014 Bonds 29,893,667 46,832,644 Bonds convertibles 297,236 630,515 Equities 38,764,912 37,906,692 59,516,413 98,965,760 99,704,052 122,017,838 5,018,223 6,053,043 Funds Mortgage and Asset Backed Securities 5,254,230 6,018,075 Rights Supranationals, Governments and Local Public Authorities, Debt Instruments 17,336,020 28,109,541 Warrants Equity Total Portfolio of Investments 38,764,912 37,906,692 59,516,413 98,965,760 99,704,052 122,017,838 57,799,376 87,643,818 MANULIFE GLOBAL FUND 86

STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 Taiwan Equity Fund 30 June 2014 30 June 2015 Turkey Equity Fund 30 June 2014 30 June 2015 U.S. Bond Fund 30 June 2014 30 June 2015 U.S. Small Cap Equity Fund USD USD USD USD USD USD USD USD 30 June 2014 Bonds 61,246,741 68,905,542 Bonds convertibles 263,268 232,943 Equities 31,229,056 38,849,024 40,558,480 49,252,466 1,698,502 1,793,250 28,032,789 32,326,783 Funds Mortgage and Asset Backed Securities 61,243,922 44,865,016 Rights Supranationals, Governments and Local Public Authorities, Debt Instruments 18,110,172 25,266,669 Warrants Equity Total Portfolio of Investments 31,229,056 38,849,024 40,558,480 49,252,466 142,562,605 141,063,420 28,032,789 32,326,783 87 MANULIFE GLOBAL FUND

STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2015 and 30 June 2014 30 June 2015 U.S. Special Opportunities Fund 30 June 2014 U.S. Treasury Inflation-Protected Securities Fund 30 June 2015 30 June 2014 USD USD USD USD Bonds 73,198,220 118,444,250 45,918 Bonds convertibles 2,155,794 1,737,752 Equities 3,954,647 10,921,712 Funds Mortgage and Asset Backed Securities 75,879 304,780 Rights Supranationals, Governments and Local Public Authorities, Debt Instruments 166,421 8,286,202 12,578,146 Warrants Equity Total Portfolio of Investments 79,308,661 131,270,135 8,362,081 12,928,844 MANULIFE GLOBAL FUND 88

AMERICAN GROWTH FUND Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Cayman Islands 4,870 Alibaba Group Holding 335,262 403,139 0.18 335,262 403,139 0.18 Curacao 71,501 Schlumberger Limited 5,682,915 6,147,656 2.73 5,682,915 6,147,656 2.73 Germany 33,902 Adidas AG 2,251,085 2,617,843 1.16 2,251,085 2,617,843 1.16 Ireland 49,908 Medtronic Inc. 1,959,854 3,687,702 1.64 1,959,854 3,687,702 1.64 Switzerland 39,499 Novartis AG ADR 2,493,981 3,902,896 1.74 2,493,981 3,902,896 1.74 United Kingdom 26,818 Diageo plc ADR 2,161,749 3,127,783 1.39 2,161,749 3,127,783 1.39 United States 36,340 Amazon.Com Inc. 7,541,790 15,774,466 7.01 36,083 American Express Company 2,074,356 2,809,423 1.25 123,252 American International Group Inc. 5,546,699 7,629,298 3.39 36,706 American Tower Corp. 3,474,817 3,434,213 1.53 27,012 Amgen Inc. 2,397,788 4,134,457 1.84 36,564 Apache Corp. 3,635,711 2,096,214 0.93 99,233 Apple Computer Company 8,539,359 12,405,117 5.51 617,068 Bank of America Corp. 7,590,869 10,422,278 4.64 63,286 Cabot Oil & Gas Corp. 2,116,168 1,994,142 0.89 60,510 Carmax Inc. P.P. 144A 2,797,051 4,025,125 1.79 26,336 Caterpillar Inc. 2,326,726 2,254,098 1.00 19,207 Chevron Corp. 1,729,675 1,860,198 0.83 159,266 Cisco Systems Inc. 4,388,062 4,360,703 1.94 189,131 Citigroup Inc. 9,269,682 10,411,662 4.63 28,000 Danaher Corp. 2,213,692 2,384,480 1.06 47,630 Ebay Inc. 2,630,392 2,832,080 1.26 134,079 EMC Corp. 3,383,437 3,506,166 1.56 23,517 Exxon Mobil Corp. 1,857,943 1,959,907 0.87 104,466 Facebook Inc. A 6,971,037 9,000,791 4.00 163,572 General Electric Company 3,231,139 4,377,187 1.95 33,509 Goldman Sachs Group Inc. 4,897,579 7,000,700 3.11 7,959 Google Inc. A 2,599,903 4,309,003 1.92 8,600 Google Inc. C 2,820,663 4,492,554 2.00 31,136 IHS Inc. 3,549,731 4,023,394 1.79 140,860 JPMorgan Chase & Company 5,584,208 9,509,459 4.23 89 MANULIFE GLOBAL FUND

AMERICAN GROWTH FUND Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 178,113 Lennar Corp. 6,323,474 9,158,570 4.08 14,608 Linkedin Corp. 2,249,889 3,023,856 1.34 65,742 Lowe s Companies Inc. 1,863,746 4,454,021 1.98 66,895 Merck & Company Inc. 2,501,024 3,826,394 1.70 95,704 Morgan Stanley 1,612,347 3,693,217 1.64 3,767 NVR Inc. 3,570,154 5,115,586 2.27 47,900 Occidental Petroleum Corp. 4,281,899 3,725,183 1.65 47,746 Oracle Corp. 1,414,298 1,918,912 0.85 39,017 PepsiCo Inc. 2,573,907 3,657,454 1.63 46,943 Polo Ralph Lauren Corp. 6,260,654 6,247,644 2.78 22,813 Prudential Financial Inc. 1,322,361 1,996,138 0.89 61,303 Qualcomm Inc. 3,330,015 3,855,346 1.71 95,965 Southwestern Energy Company 2,784,867 2,180,325 0.97 28,156 T Rowe Price Group Inc. 1,844,529 2,192,789 0.97 82,088 Tempur-Pedic International Inc. 3,745,230 5,398,928 2.40 28,430 United Parcel Service Inc. 2,103,612 2,778,748 1.24 41,948 Wells Fargo & Company 1,382,191 2,361,253 1.05 152,332,674 202,591,479 90.08 Equities Total 167,217,520 222,478,498 98.92 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 167,217,520 222,478,498 98.92 Portfolio of Investments 167,217,520 222,478,498 98.92 Other Net Assets 2,428,158 1.08 Net Assets 224,906,656 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 90

AMERICAN GROWTH FUND Investment Objective: The sub-fund aims to achieve capital growth from a portfolio of North American equities, with the main emphasis on the U.S. While the portfolio consists predominantly of securities of a carefully selected list of larger companies, smaller and medium-sized quoted companies are also included. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* American Growth Fund Class A +7.45% American Growth Fund Class AA +7.18% American Growth Fund Class HA +6.61% American Growth Fund Class HC +6.29% American Growth Fund Class HI +7.08% American Growth Fund Class I +7.92% S&P 500 Index +7.42% PERFORMANCE FROM 8 JULY 2014 TO 30 June 2015 American Growth Fund Class AA HKD +5.92% PORTFOLIO REVIEW The Share Class A returned 7.45% for the period, compared to the S&P 500 Index return of 7.42%. A sizable overweight position and strong security selection in the consumer discretionary sector gave the biggest boost to performance versus the Index. A significant part of this outperformance came from the Sub-fund s investment in e-commerce leader Amazon.com, Inc., a top holding at nearly 6% of assets. Amazon s share price rose over 33% during the period. Most of this gain came in 2015 after the company reported better-than-expected quarterly results, driven by its online dominance, the strength of its web services business and less intense investment spending. Other consumer discretionary standouts were direct beneficiaries of the U.S. housing recovery, including homebuilder Lennar Corporation and home improvement retailer Lowe s Companies, Inc. Stock picks in financials also aided performance versus the Index. Standouts included diversified financial The Goldman Sachs Group, Inc., which benefited from increased volatility that helped trading revenues, as well as from a pickup in mergers and acquisitions activity. Elsewhere, individual contributors included social network company Facebook, Inc., as its new advertising products for mobile users and huge user base fueled revenue and profit growth. All of these positions represented sizable overweight positions that posted strong doubledigit gains. Health care detracted the most from relative performance. The Fund lost ground from having a sizable underweight position in this top-performing sector because few stocks here looked reasonably valued to us. However, many health care stocks continued to climb, buoyed by mergers and acquisitions activity and new product releases. Stock picks in energy and consumer staples further hampered results versus the Index. Among the biggest individual detractors were energy-related companies, including exploration and production companies Apache Corporation and Occidental Petroleum Corporation, energy services company Schlumberger N.V. and natural gas producer Southwestern Energy Company. All four companies stock prices fell sharply as global oversupply and sluggish demand caused commodity prices to plunge. Another detractor was mobile semiconductor manufacturer QUALCOMM, Inc., as slowing handset growth, increased competition and challenges to its overseas licensing business pressured its stock return. The Sub-fund ended the period with a bias toward stocks in the more economically sensitive financials, information technology and consumer discretionary sectors, which together represented roughly 70% of assets. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 91 MANULIFE GLOBAL FUND

AMERICAN GROWTH FUND MARKET REVIEW The U.S. stock market proved resilient over the past year, posting a solid gain despite some significant challenges. On the positive side, the U.S. economy showed modest improvement, although severe winter weather stalled its progress in the first quarter of 2015. The U.S. Federal Reserve Board kept interest rates near historic lows. Consumer confidence generally increased, and corporate earnings were largely favorable. However, multiple concerns hindered returns, including geopolitical unrest in the Middle East and a steep drop in oil prices. Disappointing global economic growth, a strong U.S dollar and expectations that U.S. interest rates would move higher further pressured results. Within the S&P 500 Index, health care and consumer discretionary stocks were standout performers, while energy stocks posted a steep decline. OUTLOOK Not much has changed about our outlook. Many investors appear to be concerned that stocks look fairly valued after the U.S. equity market s six-year run and the increased likelihood of an interest rate hike. However, our sub-fund s portfolio manager remain optimistic that improving U.S. economic growth and careful security selection can lead to further gains. Going forward, they expect to maintain our focus on financially sound companies with sustainable cash flows and attractive valuations. They especially favor prospects for large-capitalization stocks, which we believe are more attractively valued than small- and mid-cap stocks, while offering solid earnings growth prospects. MANULIFE GLOBAL FUND 92

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Supranationals, Governments and Local Public Authorities, Debt Instruments Indonesia 5,000,000,000 Indonesia (Govt of) 7.000% 15/May/2027 576,529 337,388 0.37 5,200,000,000 Indonesia (Govt of) 8.250% 15/Jun/2032 649,748 383,181 0.42 19,000,000,000 Indonesia (Govt of) 8.375% 15/Mar/2024 1,641,310 1,432,025 1.55 24,000,000,000 Indonesia (Govt of) 8.375% 15/Mar/2034 1,797,822 1,791,990 1.94 3,000,000,000 Indonesia (Govt of) 9.500% 15/Jul/2031 392,500 245,624 0.27 5,057,909 4,190,208 4.55 New Zealand 550,000 New Zealand (Govt of) 5.500% 15/Apr/2023 526,360 429,174 0.46 526,360 429,174 0.46 Philippines 85,000,000 Philippine (Govt of) 4.950% 15/Jan/2021 1,994,437 1,988,755 2.16 1,994,437 1,988,755 2.16 Republic of Korea (South) 19,000,000,000 Export-Import Bank of Korea 8.000% 1,529,585 1,377,868 1.49 15/May/2018 1,000,000,000 Korea (Govt of) 2.250% 10/Jun/2025 885,060 880,396 0.95 2,000,000,000 Korea (Govt of) 2.750% 10/Jun/2017 1,951,596 1,827,844 1.98 1,500,000,000 Korea (Govt of) 2.750% 10/Mar/2018 1,448,789 1,376,381 1.49 750,000,000 Korea (Govt of) 3.500% 10/Sep/2016 716,751 685,510 0.74 1,000,000,000 Korea (Govt of) Treasury Bond 2.750% 917,495 913,486 0.99 10/Sep/2017 750,000,000 Korea (Govt of) Treasury Bond 5.000% 680,703 763,546 0.83 10/Jun/2020 400,000,000 Korea (Govt of) Treasury Bond 5.750% 404,898 401,519 0.43 10/Sep/2018 8,534,877 8,226,550 8.90 Supranational 30,000,000 Asian Development Bank 6.350% 496,093 468,734 0.51 17/Aug/2016 75,000,000 European Bank for Reconstruction & 1,230,267 1,173,195 1.27 Development 6.000% 3/Mar/2016 100,000,000 IBRD 6.000% 20/Dec/2016 1,650,181 1,555,913 1.68 30,000,000 Inter-American Development Bank 517,062 470,988 0.51 5.000% 24/Jul/2015 3,893,603 3,668,830 3.97 Thailand 30,000,000 Thailand (Govt of) 1.200% 14/Jul/2021 991,230 915,584 0.99 991,230 915,584 0.99 United Kingdom 4,000,000 United Kingdom Gilt 2.700% 21/Oct/2017 ** 651,432 641,370 0.69 651,432 641,370 0.69 93 MANULIFE GLOBAL FUND Supranationals, Governments and Local Public Authorities, Debt Instruments Total 21,649,848 20,060,471 21.72

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Bonds Australia 1,000,000 Commonwealth Bank of Australia 5.125% 819,850 706,537 0.77 1/Aug/2019 700,000 Crown Group Finance Limited 5.750% 689,681 563,210 0.61 18/Jul/2017 1,000,000 FMG Resources 8.250% 1/Nov/2019 1,037,950 857,000 0.92 500,000 Telstra Corp. Limited 7.750% 15/Jul/2020 536,560 463,143 0.50 3,084,041 2,589,890 2.80 Canada 200,000 PTTEP Canada International Finance Limited 206,250 223,646 0.24 5.692% 5/Apr/2021 250,000 PTTEP Canada International Finance Limited 250,000 286,230 0.31 6.350% 12/Jun/2042 456,250 509,876 0.55 Cayman Islands 300,000 Agile Property Holdings Limited 8.375% 310,860 299,946 0.32 18/Feb/2019 250,000 Agile Property Holdings Limited 8.875% 238,657 252,860 0.27 28/Apr/2017 1,100,000 Champion 3.750% 17/Jan/2023 1,013,030 1,051,985 1.14 400,000 China Overseas Finance Cayman V Limited 398,660 390,754 0.42 3.950% 15/Nov/2022 400,000 China Overseas Finance Cayman V Limited 354,840 369,834 0.40 5.350% 15/Nov/2042 400,000 China Overseas Finance Cayman VI Limited 404,721 413,166 0.45 4.250% 8/May/2019 250,000 China Shanshui Cement Group Limited 250,000 245,068 0.27 8.500% 25/May/2016 300,000 Country Garden Holdings Company Limited 314,625 319,995 0.35 7.875% 27/May/2019 500,000 Hutchison Whampoa International Limited 504,750 506,305 0.55 6.000% 29/Apr/2049 300,000 Longfor Properties Company Limited 6.875% 308,220 313,901 0.34 18/Oct/2019 500,000 MCE Finance Limited 5.000% 15/Feb/2021 475,100 476,240 0.52 200,000 New World China Land 5.375% 6/Nov/2019 199,352 209,353 0.23 500,000 Parkson Retail Group 4.500% 3/May/2018 500,000 475,388 0.51 600,000 Shimao Property Holdings Limited 6.625% 600,000 608,130 0.66 14/Jan/2020 500,000 Sun Hung Kai Properties Capital Market 481,250 532,035 0.58 Limited 4.500% 14/Feb/2022 400,000 Texhong Textile Group Limited 7.625% 412,500 407,458 0.44 19/Jan/2016 700,000 UOB Cayman Limited FRN 15/Mar/2016 714,500 717,969 0.78 7,481,065 7,590,387 8.23 MANULIFE GLOBAL FUND 94

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets China 1,000,000 Bank of China Limited 5.000% 13/Nov/2024 1,043,750 1,023,431 1.11 4,000,000 Baosteel Group Corp. Limited 4.150% 653,062 649,345 0.70 1/Mar/2017** 600,000 Bluestar Finance Holdings Limited 4.375% 600,000 601,839 0.65 11/Jun/2020 450,000 China Construction Bank FRN 13/May/2025 447,552 448,216 0.49 1,600,000 China Construction Bank Corp. FRN 261,339 260,299 0.28 12/Nov/2024** 5,000,000 Export-Import Bank of China 3.000% 803,784 805,186 0.87 14/May/2016** 3,809,487 3,788,316 4.10 Hong Kong 500,000 Bank of East Asia Limited FRN 13/Sep/2022 410,598 381,787 0.41 500,000 Chalieco Hong Kong Corp. Limited FRN 509,750 514,683 0.56 29/Aug/2049 3,000,000 China Construction Bank Asia Corp. Limited 482,661 483,232 0.52 3.250% 13/Mar/2016** 6,000,000 China Unicom Hong Kong Limited 4.000% 968,693 968,902 1.05 16/Apr/2017** 700,000 FPT Finance Limited 6.375% 28/Sep/2020 737,000 772,401 0.84 300,000 Hero Asia Investment Limited FRN 305,550 302,435 0.33 7/Dec/2049 5,000,000 HKCG Finance Limited 1.400% 762,927 791,772 0.86 11/Apr/2016** 500,000 Sino Land Company Limited 3.250% 497,805 510,720 0.55 21/Sep/2017 1,000,000 Wheelock Finance Limited 4.500% 821,143 768,545 0.83 2/Sep/2021 600,000 Yancoal International Trading Company 608,850 609,537 0.66 Limited FRN 29/May/2049 6,104,977 6,104,014 6.61 India 500,000 Icici Bank Limited 3.500% 18/Mar/2020 496,245 507,975 0.55 500,000 JSW Steel Limited 4.750% 12/Nov/2019 498,125 480,738 0.52 250,000 Reliance Industries Limited 4.125% 247,495 244,386 0.26 28/Jan/2025 600,000 Reliance Industries Limited 4.875% 593,190 542,391 0.59 10/Feb/2045 1,835,055 1,775,490 1.92 95 MANULIFE GLOBAL FUND

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Indonesia 600,000 Indosat Palapa Company BV 7.375% 645,825 623,319 0.68 29/Jul/2020 500,000 Mitra Pinasthika 6.750% 19/Sep/2019 498,625 474,652 0.51 250,000 Pelabuhan Indonesia 4.875% 1/Oct/2024 248,535 249,529 0.27 550,000 Pelabuhan Indonesia II Pt 4.250% 544,478 516,645 0.56 5/May/2025 800,000 Pertamina Persero PT 6.450% 30/May/2044 871,500 791,056 0.86 1,000,000 Pertamina PT 5.250% 23/May/2021 1,047,501 1,041,574 1.14 400,000 Perusahaan Listrik Negara PT 5.500% 408,800 424,036 0.46 22/Nov/2021 600,000 Theta Capital Pte Limited 7.000% 617,460 624,204 0.68 16/May/2019 4,882,724 4,745,015 5.16 Jersey Channel Islands 300,000 West China Cement Limited 6.500% 298,125 303,480 0.33 11/Sep/2019 298,125 303,480 0.33 Malaysia 6,750,000 Cagamas Global 3.700% 22/Sep/2017** 1,098,904 1,088,611 1.18 1,300,000 Cimb Bank Bhd 4.375% 25/Sep/2019 1,177,918 1,007,132 1.09 1,000,000 Ioi Investment Bhd 4.375% 27/Jun/2022 994,840 1,012,255 1.10 750,000 Malayan Banking Bhd 3.800% 28/Apr/2021 607,247 565,010 0.61 900,000 Petronas Capital Limited 4.500% 888,903 870,782 0.94 18/Mar/2045 1,000,000 Ssg Resources Limited 4.250% 4/Oct/2022 1,002,422 1,014,695 1.10 5,770,234 5,558,485 6.02 Netherlands 1,000,000 Bharti Airtel International Netherlands BV 978,540 1,047,839 1.13 5.125% 11/Mar/2023 700,000 Indo Energy Finance II BV 6.375% 610,100 467,194 0.51 24/Jan/2023 1,000,000 Majapahit Holding BV 7.750% 20/Jan/2020 1,172,000 1,158,275 1.25 1,000,000 Volkswagen International Finance NV 3.750% 160,514 162,373 0.18 30/Nov/2017** 2,921,154 2,835,681 3.07 New Zealand 5,000,000 Fonterra Cooperative Group Limited 3.600% 811,384 801,821 0.87 29/Jan/2019** 811,384 801,821 0.87 Philippines 14,000,000 Petron Corp. 7.000% 10/Nov/2017 328,615 315,870 0.34 328,615 315,870 0.34 MANULIFE GLOBAL FUND 96

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Republic of Korea (South) 300,000 Export-Import Bank of Korea 4.875% 255,607 207,026 0.22 15/Dec/2017 25,000,000 Export-Import Bank of Korea 7.000% 419,312 394,610 0.43 27/Jun/2017 13,000,000,000 Export-Import Bank of Korea 8.400% 1,187,599 965,152 1.05 6/Jul/2016 500,000 Sk Telecom Company Limited 4.750% 523,989 398,045 0.43 17/Nov/2017 2,386,507 1,964,833 2.13 Singapore 200,000 ABJA Investment Company Pte Limited 200,000 203,019 0.22 4.850% 31/Jan/2020 600,000 Alam Synergy Pte Limited 9.000% 608,900 626,319 0.67 29/Jan/2019 5,000,000 Global Logistic Properties Limited 3.375% 778,469 803,365 0.87 11/May/2016** 500,000 Global Logistic Properties 3.875% 4/Jun/2025 496,110 490,133 0.53 500,000 Mapletree Treasury Services Limited FRN 399,107 381,822 0.41 29/Jul/2049 1,750,000 Singapore Post Limited 4.250% 29/Sep/2049 1,398,071 1,366,687 1.49 500,000 Tbg Global Pte Limited 4.625% 3/Apr/2018 485,000 499,430 0.54 4,365,657 4,370,775 4.73 Supranational 50,000,000 International Finance Corp. 7.750% 804,229 794,391 0.86 3/Dec/2016 804,229 794,391 0.86 Thailand 600,000 PTT Global Chemical pcl 4.250% 19/Sep/2022 594,648 614,940 0.67 200,000 Thai Oil pcl 3.625% 23/Jan/2023 198,342 197,322 0.21 700,000 Thai Oil pcl 4.875% 23/Jan/2043 697,445 651,137 0.71 1,490,435 1,463,399 1.59 United Kingdom 300,000 Vedanta Resources 6.000% 31/Jan/2019 308,820 292,278 0.32 300,000 Vedanta Resources plc 9.500% 18/Jul/2018 303,600 322,173 0.35 612,420 614,451 0.67 United States 5,000,000 Caterpillar Financial Services Corp. 3.400% 816,025 806,294 0.87 25/Nov/2017** 900,000 Citigroup Inc. 6.250% 29/Jun/2017 719,256 638,543 0.69 900,000 Cnooc Finance 3.500% 5/May/2025 893,700 867,407 0.94 650,000 Morgan Stanley 7.375% 22/Feb/2018 678,665 548,993 0.59 250,000 Reliance Holdings USA Inc. 5.400% 248,523 269,711 0.29 14/Feb/2022 3,356,169 3,130,948 3.38 97 MANULIFE GLOBAL FUND

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Virgin Islands (British) 2,000,000 Avic International Finance & Investment 321,907 327,372 0.35 Limited 4.800% 10/Apr/2017** 1,000,000 Bestgain Real Estate Limited 2.625% 941,000 990,499 1.07 13/Mar/2018 1,250,000 Bestgain Real Estate Limited 3.275% 1,002,916 929,835 1.01 6/Nov/2017 200,000 Ccci Treasure Limited FRN 29/Dec/2049 200,000 198,544 0.22 500,000 China Cinda Finance Limited 3.125% 498,440 487,885 0.53 23/Apr/2020 5,000,000 Datang Telecom 5.500% 29/Sep/2017** 812,805 811,286 0.88 450,000 Double Rosy Limited 3.625% 18/Nov/2019 447,719 452,457 0.49 6,000,000 Eastern Creation Investment II Holdings 977,993 971,189 1.05 Limited 3.750% 27/Jun/2017** 500,000 Franshion Investment Limited 4.700% 506,540 517,390 0.56 26/Oct/2017 1,000,000 Greenland Global Investment Limited 4.375% 994,200 1,014,974 1.10 3/Jul/2019 500,000 Henson Finance Limited 5.500% 17/Sep/2019 490,940 545,663 0.59 250,000 Hysan Mtn Limited 3.500% 16/Jan/2023 249,415 248,868 0.27 900,000 Poly Real Estate Finance Limited 4.500% 896,818 931,527 1.01 6/Aug/2018 5,000,000 Sinochem Offshore Capital Company Limited 807,098 805,955 0.87 3.550% 13/May/2017** 300,000 Sino-Ocean Land 5.950% 4/Feb/2027 296,211 302,216 0.33 200,000 Star Energy Geothermal 6.125% 197,000 192,181 0.21 27/Mar/2020 1,000,000 Wiseyear Holdings Limited 5.875% 1,033,079 1,110,394 1.19 6/Apr/2021 10,674,081 10,838,235 11.73 Bonds Total 61,472,609 60,095,357 65.09 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 83,122,457 80,155,828 86.81 Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities (2) Supranationals, Governments and Local Public Authorities, Debt Instruments MANULIFE GLOBAL FUND 98

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets China 3,000,000 China (Govt of) 1.400% 18/Aug/2016** 478,286 476,712 0.52 478,286 476,712 0.52 Malaysia 1,500,000 Malaysia (Govt of) 3.580% 28/Sep/2018 474,634 399,048 0.43 3,500,000 Malaysia (Govt of) 3.654% 31/Oct/2019 1,081,176 929,244 1.01 1,000,000 Malaysia (Govt of) 3.835% 12/Aug/2015 320,296 265,273 0.29 3,500,000 Malaysia (Govt of) 4.048% 30/Sep/2021 985,437 936,739 1.01 1,500,000 Malaysia (Govt of) 4.160% 15/Jul/2021 505,321 404,523 0.44 1,500,000 Malaysia (Govt of) 4.392% 15/Apr/2026 531,621 404,799 0.44 3,898,485 3,339,626 3.62 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 4,376,771 3,816,338 4.14 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities (2) 4,376,771 3,816,338 4.14 Other transferable securities and money market instruments (2) Bonds Australia 600,000 Incitec Pivot Limited 5.750% 21/Feb/2019 566,699 487,104 0.53 566,699 487,104 0.53 China 4,000,000 Industrial & Commercial Bank of China 644,658 644,632 0.70 Limited 3.350% 19/Nov/2016** 644,658 644,632 0.70 United States 500,000 Morgan Stanley 7.600% 8/Aug/2017 406,081 363,039 0.39 406,081 363,039 0.39 Bonds Total 1,617,438 1,494,775 1.62 Total Other transferable securities and money market instruments (2) 1,617,438 1,494,775 1.62 Portfolio of Investments 89,116,666 85,466,941 92.57 Other Net Assets 6,862,615 7.43 Net Assets 92,329,556 100.00 ** The security is valued with the off-shore FX rate of CNH (refer to note 2.2 on page 242) (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements. 99 MANULIFE GLOBAL FUND

ASIA TOTAL RETURN FUND Investment Objective: The sub-fund aims to maximize total returns from a combination of capital appreciation and income generation. The sub-fund primarily invests in a diversified portfolio of fixed income securities, issued by governments, agencies, supra-nationals and corporate issuers in Asia. The sub-fund may also invest (up to 30 per cent of its net assets) in cash and fixed income securities of other issuers outside Asia if the Investment Manager considers that such securities will achieve the goal of maximizing capital appreciation and income generation. The sub-fund invests in securities denominated in Asian currencies or other currencies. It may invest in local currency bonds with unhedged currency exposure to achieve currency gains. The sub-fund may also hedge for efficient portfolio management purposes. The sub-fund may invest in higher-yielding debt securities rated lower than investment grade, or if unrated, their equivalent. As such, an investment in this sub-fund is accompanied by a higher degree of credit risk. PERFORMANCE FROM 1 JULY 2014 TO 30 june 2015* Asia Total Return Fund Class AA Inc** -0.89% Asia Total Return Fund Class HA -1.46% Asia Total Return Fund Class HC -1.95% Asia Total Return Fund Class HI -1.02% Asia Total Return Fund Class I -0.36% 50% JP Morgan ELMI Plus (Asia) + 50% JP Morgan Asia Credit Index (USD) -3.43% PERFORMANCE FROM 14 OCTOBer 2014 TO 30 june 2015 Asia Total Return Fund Class J USD Inc -0.24% PERFORMANCE FROM 17 OCTOBer 2014 TO 30 june 2015 Asia Total Return Fund Class AA USD -0.63% PORTFOLIO REVIEW The portfolio s main contribution came from currency positioning. The broad portfolio overweight in US dollar versus the benchmark helped amid a strengthening US dollar. Amongst other currencies, the overweight in offshore Chinese renminbi, underweight in Singapore dollar and South Korean won also contributed positively to relative performance. The portfolio also benefited from the overweight to US dollar denominated corporate bonds and exposure to Singaporean corporate bonds. On the other hand, the underweight US dollar interest rate duration positioning amid declining US Treasury yields and exposure to Indonesian bonds detracted from performance over the period. MARKET REVIEW In US, 10-year Treasury yields fell from 2.53% to 2.35% over the period. US treasury yields traded as low as 1.64%, driven by declining inflation expectations on lower energy prices. However, yields rose toward the end of the period as US economic growth and labour market data improved, supporting calls for the US Federal Reserve (Fed) to start normalising its interest rate policy in 2015. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. ** Previously Class AA MANULIFE GLOBAL FUND 100

ASIA TOTAL RETURN FUND Over the period, a number of Asian central banks cut interest rates as inflation pressures receded due to lower energy prices, providing central banks more leeway for monetary policy easing. In China, first quarter 2015 GDP grew at 7%, its slowest pace in six years, down from 7.3% in the fourth quarter of 2014. Policy wise, the People s Bank of China (PBoC) cut interest rates four times during the period to stimulate the economy as growth slowed, reducing the one-year lending rate to 4.85% and the oneyear deposit rate to 2%, while reserve requirement ratios (RRR) for banks were also cut. Longer-dated offshore Chinese bond yields fell over the period. In South Korea, the Bank of Korea cut its policy rate four times over the period to 1.50% to stimulate its economy. South Korean bond yields declined over the period. In India, the Reserve Bank of India cut interest rates three times over the period to 7.25%, taking advantage of subdued inflation to lend more support to the economy. Indian bond yields fell over the period. In Indonesia, Bank Indonesia raised its policy rate by 25 basis points to 7.75% in November 2014 before cutting rates to 7.5% in February 2015 to spur GDP growth going forward. Indonesian bond yields rose over the period amid rising inflation while first quarter 2015 GDP was lower than expected, spurring some capital outflows from foreign investors. Asian corporate credit markets performed well over the period. The JP Morgan Asian Investment Grade Corporate Bond Index returned 4.13%, while the Asian High Yield Corporate Bond Index returned 4.72%, in US dollar terms. The majority of Asian currencies sold-off against the US dollar. Offshore Chinese renminbi was one of the few currencies that strengthened against the US dollar, amid speculation that the currency might be included in the International Monetary Fund s special drawing rights basket later this year. Malaysian ringgit was one of the worst performing currencies against the US dollar, amid concerns of a possible ratings downgrade by ratings agency Fitch and lower oil prices. OUTLOOK As the Sub-fund s portfolio manager believes the Fed is on track to start normalising monetary policy later in 2015, they have defensively positioned the portfolio through short US dollar interest rate duration and an overweight exposure to the US dollar. In addition, the portfolio s high yield exposure has been trimmed and the level of cash has increased. Tactically, the Sub-fund s portfolio manager continues to actively manage the portfolio s interest rate duration amid an uncertain macroeconomic environment and seek to capitalise on short-term market dislocations. As some local Asian yield curves have steepened recently, the Sub-fund s portfolio manager may opportunistically increase duration to selective markets where they believe bonds are attractive from a total return perspective and central banks have room to ease monetary policy. The portfolio is positioned to benefit from broad US dollar strength, but the Subfund s portfolio manager maintains tactical exposure to selective Asian currencies which they believe are backed by strong economic fundamentals and to diversify portfolio risk. 101 MANULIFE GLOBAL FUND

Asia Value Dividend Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Australia 3,318 United Overseas Australia 1,591 1,382 0.01 1,591 1,382 0.01 Bermuda 3,920,000 CSI Properties Limited 176,432 151,699 0.79 436,400 Nam Cheong Limited 103,560 89,167 0.46 105,559 Skyworth Digital Holdings Limited 52,377 93,955 0.49 332,369 334,821 1.74 Cayman Islands 155,000 Belle International Holdings Limited 168,775 178,550 0.93 37,680 Cheung Kong Property Holding 206,389 312,535 1.63 223,000 China Lilang Limited 141,787 255,443 1.33 224,000 China Resources Cement Holdings Limited 153,244 125,116 0.65 826,000 Cifi Holdings Group Company Limited 184,889 216,298 1.13 37,680 Ck Hutchison Holdings Limited 492,151 553,619 2.88 189,000 Dorsett Hospitality International 39,897 39,008 0.20 324,000 EGL Holdings Company Limited 69,908 117,861 0.61 606,000 Hopefluent Group Holdings Limited 227,647 205,591 1.07 988,000 Jiangnan Group Limited 235,930 284,209 1.48 168,000 Lee & Man Holding Limited 90,410 96,871 0.50 220,000 Longfor Properties Company Limited 327,441 350,198 1.83 42,400 Mgm China Holdings Limited 102,174 69,353 0.36 240,000 Oi Wah Pawnshop Credit Holding 63,843 85,137 0.44 102,000 Shimao Property Holdings Limited 216,028 201,311 1.05 1,690,000 Sinomax Group Limited 239,716 246,344 1.28 245,000 Sitc International Company Limited 82,125 161,812 0.84 209,000 Springland International Holdings Limited 102,633 72,792 0.38 412,000 Time Watch Investments Limited 54,332 69,090 0.36 268,000 Tk Group Holdings Limited 50,077 89,539 0.47 112,000 Wonderful Sky Financial Group Holdings 20,894 34,385 0.18 Limited 119,500 Zhongsheng Group Holdings Limited 107,809 84,012 0.44 3,378,099 3,849,074 20.04 MANULIFE GLOBAL FUND 102

Asia Value Dividend Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets China 901,000 Agricultural Bank of China H 396,039 484,660 2.53 197,500 Baic Motor Corp. Limited 253,641 237,698 1.24 1,396,000 Bank of China Limited H 601,817 907,595 4.74 831,000 China Construction Bank Corp. 571,882 758,945 3.95 21,000 China Life Insurance Company Limited H 66,258 91,426 0.48 104,000 China Machinery Engineering Corp. H 79,112 112,154 0.58 33,000 China Shenhua Energy Company Limited 108,002 75,261 0.39 312,443 China Vanke Company Limited H 533,702 768,998 4.00 11,900 Dalian Wanda Commercial Properties 97,674 95,711 0.50 Company Limited H 58,000 Dongfeng Motor Group Company Limited 88,219 77,810 0.41 14,500 Great Wall Motor Company Limited 61,243 71,077 0.37 74,100 Luthai Textile Company Limited 78,409 118,336 0.62 242,000 Petrochina Company Limited 279,443 270,027 1.41 373,000 Qingdao Port International H 213,272 219,888 1.15 284,500 Sinopec Engineering Group Company Limited 292,759 263,501 1.37 102,500 Yangtze Optical Fibre & Cable Joint Stock 97,873 135,394 0.71 Limited H 3,819,345 4,688,481 24.45 Hong Kong 71,000 Boc Hong Kong Holdings Limited 214,990 295,827 1.54 26,000 China Overseas Land & Investment Limited 87,679 91,729 0.48 587,000 China Power International Development 224,924 447,509 2.33 Limited 140,000 China Resources Power Holdings Company 338,200 390,987 2.04 Limited 44,000 Chow Sang Sang Holding 108,824 88,316 0.46 389,758 Far East Consortium 138,622 184,518 0.97 166,393 Hui Xian Real Estate Investment Trust** 92,168 93,380 0.49 43,000 Luk Fook Holdings International Limited 127,371 126,745 0.66 2,140,000 Modern Beauty Salon Holdings Limited 169,458 209,799 1.09 212,000 Pico Far East Holdings Limited 60,033 67,821 0.35 494,000 Scmp Group Limited a 103,710 117,443 0.61 109,628 Sino Land Company Limited 164,454 183,275 0.96 264,000 Spring Real Estate Investment Trust 108,433 117,149 0.60 176,000 Yuexiu Real Estate Investment Trust 89,208 96,943 0.51 2,028,074 2,511,441 13.09 Indonesia 117,400 Bank Mandiri Tbk PT 90,240 88,490 0.46 35,600 Nusa Raya Cipta Tbk Pt 2,400 2,470 0.01 294,400 Telekomunikasi Indonesia Tbk PT 53,455 64,694 0.34 146,095 155,654 0.81 Malaysia 397,750 Mah Sing Group Bhd 179,632 173,943 0.91 93,500 Signature International Bhd 60,473 64,679 0.34 113,700 UOA Development Bhd 76,904 63,284 0.33 317,009 301,906 1.58 103 MANULIFE GLOBAL FUND

Asia Value Dividend Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Philippines 141,500 Leisure & Resorts World Corp. 29,358 28,401 0.15 549,000 Premium Leisure Corp. 14,928 14,367 0.07 44,286 42,768 0.22 Republic of Korea (South) 112 Alticast Corp. 897 867 0.00 4,163 Amorepacific Corp. 184,967 765,087 3.99 1,995 BGF Retail Company Limited 124,552 286,163 1.50 4,292 Corestem Inc. 61,396 163,531 0.85 3,355 Gs Retail Company Limited 79,762 140,462 0.73 3,686 Hynix Semiconductor Inc. 158,947 139,780 0.73 2,243 Hyundai Marine & Fire Insurance Company 57,657 59,320 0.31 Limited 4,433 Hyundai Motor Company Pfd 325,946 405,367 2.12 1 Hyundai Motor Company 173 122 0.00 3,823 Hyundai Motor Company 223,499 318,398 1.66 155 Korea Ratings Corp. 5,757 5,711 0.03 5,560 LG Corp. 170,374 186,672 0.97 1 LG Corp. 61 55 0.00 13,111 Macquarie Korea Infrastructure Fund 88,963 94,620 0.49 564 Samsung Electronics Company 517,556 502,086 2.62 Limited Pfd 1 Samsung Fire & Marine Insurance 201 264 0.00 Company Limited 3,409 Samsung Fire & Marine Insurance 268,191 550,110 2.86 Company Limited 2,222 SK Telecom Company Limited 363,087 498,006 2.59 2,631,986 4,116,621 21.45 Singapore 26,000 Aims Amp Capital Industrial Reit 29,228 28,880 0.15 200,000 Asian Pay Television Trust 124,756 126,309 0.66 146,800 China Merchants Holdings Pacific Limited 83,203 114,526 0.60 124,000 Croesus Retail Trust 93,842 86,143 0.45 17,300 DBS Group Holdings Limited 240,112 265,946 1.39 215,100 Ezion Holdings Limited 225,656 163,814 0.85 23,000 Frasers Commercial Trust 24,671 26,146 0.14 20,000 Parkway Life Real Estate Investment Trust 34,127 34,178 0.18 58,500 Wing Tai Holdings Limited 86,093 82,801 0.43 343,000 Yangzijiang Shipbuilding Holdings Limited 306,942 360,610 1.88 1,248,630 1,289,353 6.73 MANULIFE GLOBAL FUND 104

Asia Value Dividend Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Taiwan Thailand 54,000 Farglory Land Development Company Limited 69,117 56,442 0.29 19,000 Huaku Development Company Limited 46,427 41,258 0.21 13,000 Johnson Health Tech Company Limited 29,215 30,209 0.16 157,000 Mega Financial Holding Company Limited 128,644 141,458 0.74 5,000 Superalloy Industrial Company Limited 20,325 20,742 0.11 62,000 Taiwan Semiconductor Manufacturing 283,744 282,324 1.47 Company Limited 577,472 572,433 2.98 1,000 Asian Property Development pcl NVDR 212 213 0.00 295,000 Asian Property Development pcl 61,312 62,885 0.33 168,800 Bangchak Petroleum pcl 169,417 174,918 0.91 408,300 Jasmine Broadband Internet Infrastructure 125,168 118,468 0.62 Fund 55,600 Pruksa Real Estate 40,457 41,565 0.22 167,800 Somboon Advance Technology pcl 96,760 92,903 0.48 67,700 Supalai pcl 37,985 37,683 0.20 39,700 Tisco Financial 53,290 54,068 0.28 22,600 Tisco Financial Group pcl NVDR 30,885 30,779 0.16 483,100 True Telecommunication Growth 158,126 175,929 0.91 Infrastructure Fund 773,612 789,411 4.11 Equities Total 15,298,568 18,653,345 97.21 Warrants Equity Malaysia 53,250 Mah Sing Group Bhd Wts 21/Feb/2020 0 2,611 0.01 0 2,611 0.01 Warrants Equity Total 0 2,611 0.01 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 15,298,568 18,655,956 97.22 Portfolio of Investments 15,298,568 18,655,956 97.22 Other Net Assets 534,314 2.78 Net Assets 19,190,270 100.00 ** The security is valued with the off-shore FX rate of CNH (refer to note 2.2 on page 242) a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. 105 MANULIFE GLOBAL FUND

Asia Value Dividend Equity Fund Investment Objective: The sub-fund aims to achieve capital appreciation through investing primarily in a portfolio of equities and equity-related securities of companies that distribute dividends, and are domiciled in, or derive significant income from, or have significant operations in the Far East ex-japan region ( FarEast in this context bears the same meaning as MSCI Barra ascribes to its index universe under the MSCI AC Far East ex-japan Index it comprises countries or markets including Thailand, Taiwan, South Korea, Singapore, Philippines, Malaysia, Indonesia, Hong Kong and China). These companies are listed or traded on the stock exchanges of the Far East ex-japan region. The underlying investment philosophy for the Sub-Fund is based on the belief that, while markets are inefficient and discrepancies exist in the short-run, prices in the longrun ultimately reflect fundamental values. The Sub-Fund seeks to identify under-valued securities comprising the MSCI AC Far East ex- Japan Index that will benefit from the upside correction between the market s short-term inefficiency and long-term efficiency. PERFORMANCE FROM 1 JULY 2014 TO 30 june 2015* Asia Value Dividend Equity Fund Class AA +15.99% MSCI AC Far East Free ex-japan Index +4.19% PERFORMANCE FROM 2 December 2014 TO 30 june 2015 Asia Value Dividend Equity Fund Class AA Inc +14.28% PORTFOLIO REVIEW Asian ex-japan equities saw a positive year as the Chinese stockmarkets recorded strong gains throughout most of the review period. The sub-fund benefited from its significant exposure to Chinese equities as well as a Korean cosmetics company which has been one of the portfolio s top holdings. Over the review period, the sub-fund delivered an absolute return of 15.99%; for reference, the MSCI Far East (ex Japan) index was up 4.19%. In terms of sectors, financials and consumer staples contributed positively to the sub-fund s performance. The key detractor was in the energy exposure. In the period under review, the portfolio saw increased exposure to real estate and consumer staples, while exposure to consumer discretionary came down. MARKET REVIEW The review period has been a positive but relatively mixed year for the Asian equity markets. Within the Greater China region, while Taiwanese stocks underperformed in general, the Chinese equity markets outperformed and saw a strong rally from October 2014 to mid-june 2015 before a major correction near the end of the review period. Meanwhile, the Korean equity market ended the review period with small gains and ASEAN markets, especially Indonesian equities, experienced much volatility. China At the beginning of the review period, the Chinese stockmarkets continued their upward momentum from the first half of 2014 on the back of various positive economic data. After a temporary correction in September, market sentiment turned more positive again in October when the property sector in China started to see some early signs of recovery following a series of loosening measures by the Chinese government. Meanwhile, the PBoC surprised the market by announcing a cut in interest rates on 21 November, two years after its last rate cut in July 2012. Since then, the Chinese government continued to roll out more accommodative policies such as interest rate cuts, reserve requirement ratio (RRR) cuts, and property-loosening measures. The loosening stance of the government provided solid support to market sentiment, coupled with positive reform measures including the local government debt swap plan which helped to reduce risks of bad debt, the Chinese stockmarket climbed higher in the first half of 2015 despite a temporary correction in January 2015. With China A shares rallying, the positive sentiment also spilled over to other Chinese stocks including the B-share and the H-share markets. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 106

Asia Value Dividend Equity Fund However, the rapid and sharp rally has caused valuations of many A-share stocks become overstretched. By mid-june, the Shanghai Composite Index surged 152% since July 2014 and climbed 60% since the beginning of 2015. With the China Securities Regulatory Commission s (CSRC) tightened margin financing in late June, Chinese retail investors, who have been dominating the stockmarket and sitting on huge paper gains, rushed to cash in their positions. This has unwound bubbles created by hot money flows and exacerbated the market correction. The intensified stock price decline escalated deleveraging pressures and forced more people to search for downside protection. These self-reinforcing forces have turned into a vicious cycle. As of 8 July 2015, the Shanghai Composite Index plunged 32% from its peak on 12 June and H shares (represented by Hang Seng China Enterprises Index) dropped 21% over the same period. (Note: all index performances in this paragraph are in local currency terms.) Korea After falling in the second half of 2014, Korean stocks rebounded strongly in the first quarter of 2015 and ended the review period with mild gains. On the economic front, although trade data and industrial output remained weak amid slowing external demand and a weak Japanese yen, domestic sentiment was strong on the back of tourism boom and improving labor market condition. An outbreak of the Middle East Respiratory Syndrome (MERS) since late May 2015 has dampened economic growth as foreign tourists canceled their trips and consumers stayed home, but the impact is expected to be temporary. As a pre-emptive action, the Bank of Korea cut its benchmark rate on June 11 by 25 basis points to a record low of 1.5%. The Korean government also announced a 22 trillion won package to revitalize the economy. Meanwhile, more Korean companies announced to boost dividend payouts after the 2014 Tax Revision Bill had been passed by Korea s National Assembly in December. ASEAN In the ASEAN region, equity markets saw a mixed performance. While both the Indonesian and Thai markets moved higher in the second half of 2014, fund outflows and currency depreciation in India and Indonesia remained a focus for investors. Towards the end of 2014, Thailand s SET Index plunged 9.2% on 15 December (in local currency terms), its biggest intraday fall in six years, because of political uncertainties and falling global oil prices. The market picked up momentum again in the first quarter of 2015 but saw a correction in the last few months of the review period, giving back most of its gains in the previous months. On the economic front, although a major overhang on the country s tourism industry was removed as the Thai government lifted martial law in April, Thailand suffered from severe droughts recently, making its path to economic recovery more challenging especially amid global economic uncertainty. The Bank of Thailand kept its policy interest rate at 1.5% on June 10 after making two consecutive cuts by 25 basis points each in March and April. The Indonesian stockmarket saw a continuous upward trend since the beginning of the review period and reached its multi-year high in March 2015. However, as the Indonesian rupiah became one of the worst performing currencies across the region against the US dollar, the Indonesian stockmarket saw a significant loss in the second quarter of 2015. To stop the rupiah from free falling, the Central Bank of Indonesia announced in April a ban, effective from July 1, 2015, on the use of the US dollar and other foreign currencies in all financial transactions in the country. OUTLOOK While the swing in the Chinese stockmarkets in late June and early July was wilder and more frightening than usual, as the sub-fund s portfolio manager stepped back and evaluated calmly, it seemed to us that it was not a real collapse. The turbulence has hurt those who entered the market lately, but the numerous investors who have been in the market for a longer period were still making profit. As of July 8, 2015, the Shanghai Composite Index rose about 8% year-to-date and 70% over the past 12 months (all in local currency terms). This explains a lack of real panic, and it is a reason not to over-react to the severe setback in June and July. After all, a bull market has to climb a wall of worry. Capitalism with Chinese characteristics means that the government has huge power to influence markets. Developing a healthy stockmarket is a top official priority, and many tools remain available to make this happen. For example, the government has significant room to reduce interest rates and bank reserve ratios. Unlike some Western countries, Chinese government agencies can intervene forcefully in the market to get what they want without the need to gain legislative approval. The central bank has come out to provide liquidity to the China Securities Finance Corporation, a government-backed agency that has been buying shares in the market. 107 MANULIFE GLOBAL FUND

Asia Value Dividend Equity Fund Our impression is that because the market s recent fall hasn t caused social or financial instability, the government hasn t felt a pressing need to bring out the bazooka. China has the world s biggest pool of savings, but the wealth is mainly allocated to bank deposits and real estate, with the amount tied up in stocks estimated at only 10% to 15% of household wealth. In the meantime, some of the worst excesses in the market have been purged, at least for the time being. For example, the excessive use of margin loans to buy stocks is widely blamed for the plunge but in recent weeks, the outstanding amount of margin loans has dropped to less than RMB1.5 trillion from a peak of RMB2.3 trillion on June 18. The total is dropping so quickly that it should be below RMB1 trillion (the level at the end of 2014) by mid-july. More importantly, valuations of Hong Kong-listed H shares, our favorite segment of the Chinese equity markets, and other Chinese stocks have become much more reasonable, creating a supportive force to sustain a healthy stockmarket. As of July 8, 2015, the MSCI China Index traded at about 9.2 times forward earnings. Chinese A shares using the CSI 300 Index as the benchmark were down to approximately 13.5 times forward earnings, a 9% discount to the 10-year average. It is possible only time will tell that what has happened will be seen as a swift and frightening correction within the context of an on-going bull market. In a market with Chinese characteristics, brutal corrections need to happen from time to time to cure excesses that could otherwise make it impossible to sustain a healthy market. The recent troubles do have some lingering impact, however. Renewed caution among investors is apparent, and in the big cities with concentrations of stockmarket speculators, there may be some negative wealth effect, the sub-fund s portfolio manager also see a possible slowdown in China s reform agenda. The Chinese government is sincere about wanting to deregulate financial markets and further liberalize capital flows in and out of the country but it may now do this more cautiously, to safeguard its power to carry out market interventions. Last but not least, although the US may start to turn its interest rate cycle as early as September this year, the move has been slower than expected given relatively sluggish economic data at home and uncertainties over Greece s ongoing crisis. Coupled with Japan s quantitative and qualitative easing policies and the European Central Bank s bond-buying program, the developments have continued to keep liquidity abundant and interest rates low in global markets. With China cutting interest rates the fourth time since last November and countries across Asia, such as Korea, Indonesia, India and Thailand, joining the club, the low-rate environment is expected to continue, benefiting our portfolio which is more focused on high-dividend stocks across the region. MANULIFE GLOBAL FUND 108

Asian Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Australia 243,110 Vita Group Limited 317,988 317,831 0.28 317,988 317,831 0.28 Bermuda 4,792,000 Global Brands Group Holding Limited 909,011 1,007,582 0.90 902,000 Pax Global Technology Limited 840,074 1,293,861 1.16 1,749,085 2,301,443 2.06 Cayman Islands 117,304 Cheung Kong Property Holding 649,054 972,971 0.87 561,000 China High Speed Transmission Equipment 523,645 487,028 0.44 Group Company Limited 900,000 China Hongqiao Group Limited 792,306 847,504 0.76 572,000 China Lesso Group Holdings Limited 532,590 465,588 0.42 435,000 China Medical System Holdings Limited 829,286 609,390 0.54 390,000 China Resources Land Limited 1,036,276 1,265,257 1.13 394,000 China State Construction International 580,048 709,509 0.63 Holdings Limited 939,000 China ZhengTong Auto Services 471,465 611,693 0.55 Holdings Limited 81,804 Ck Hutchison Holdings Limited 1,079,338 1,201,917 1.07 1,524,000 Cowell E Holdings Inc. 889,337 1,405,618 1.25 3,000,000 Far East Global Group Limited 749,847 712,058 0.63 258,000 Intelliepi Inc. 843,905 723,294 0.65 9,141 Netease.com ADR 1,107,717 1,325,445 1.18 617,000 Nexteer Automotive Group Limited 543,985 643,092 0.57 144,000 Shimao Property Holdings Limited 311,390 284,204 0.25 84,000 Silergy Corp. 727,801 863,013 0.77 841,000 Spg Land Holdings Limited 738,655 651,999 0.58 157,100 Tencent Holdings Limited 2,707,831 3,135,038 2.80 780,000 Uni-President China Holdings Limited 772,145 719,411 0.64 130,000 Vinda International Holdings 293,359 272,336 0.24 586,000 Wasion Meters Group Limited 856,088 904,076 0.81 910,000 WH Group Limited 713,040 619,800 0.55 17,749,108 19,430,241 17.33 China 3,869,000 Bank of China Limited H 2,056,604 2,515,391 2.25 658,000 Bank of Communications Company Limited 550,161 685,825 0.61 756,000 Beijing Capital International Airport 829,437 871,837 0.78 Company Limited H 525,000 China Communications Construction 558,603 785,586 0.70 Company Limited H 2,691,000 China Construction Bank Corp. 2,252,155 2,457,668 2.19 818,000 China Eastern Airlines Corp. Limited 435,724 684,817 0.61 1,280,000 China Everbright Bank Company Limited H 714,868 767,784 0.69 455,000 China Life Insurance Company Limited H 2,082,201 1,980,895 1.77 176,800 China Pacific Insurance Group Company Limited 758,323 848,402 0.76 109 MANULIFE GLOBAL FUND

Asian Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets China (continued) 558,000 China Railway Group Limited 465,653 602,471 0.54 1,388,000 Chongqing Rural Commercial Bank H 889,451 1,111,878 0.99 500,000 Fosun International 643,443 1,176,444 1.05 1,038,000 Huadian Power International Company 1,228,066 1,150,182 1.02 148,200 Huatai Securities Company Limited 474,110 418,667 0.37 1,004,000 Industrial & Commercial Bank of China H 650,043 797,794 0.71 69,000 Legend Holdings Corp. 382,583 385,846 0.34 207,900 New China Life Insurance Company H 872,134 1,241,686 1.11 993,000 Picc Property & Casualty Company Limited 1,982,422 2,262,122 2.02 17,825,981 20,745,295 18.51 Hong Kong 459,600 Aia Group Limited 2,511,602 3,008,792 2.68 117,000 Boc Hong Kong Holdings Limited 390,813 487,489 0.44 234,000 Cathay Pacific Airways Limited 568,258 575,327 0.51 421,000 China Everbright International Limited 661,187 754,872 0.67 65,500 China Mobile Limited 797,785 838,587 0.74 222,000 China Overseas Land & Investment Limited 675,937 783,225 0.70 332,800 Dah Sing Banking Group Limited 771,987 728,091 0.65 524,000 Far East Horizon Limited 501,542 498,843 0.45 162,000 Galaxy Entertainment Group Limited 756,947 645,728 0.58 32,700 Hong Kong Exchanges & Clearing Limited 897,650 1,154,091 1.03 652,000 Huabao International Holdings Limited 517,639 392,772 0.35 1,526,000 Hutchison Telecommunications Hong Kong 720,804 633,850 0.57 Holdings Limited 245,000 Lee & Man Paper Manufacturing Limited 146,322 156,124 0.14 582,000 New World Development Limited 775,257 761,267 0.68 1,452,000 Shenzhen Investment Limited 740,288 711,748 0.64 2,960,000 Sinofert Holdings Limited 883,179 679,654 0.61 293,500 Smartone Telecommunications 413,717 511,872 0.46 Holding Limited 187,000 Swire Properties Limited 593,551 597,026 0.53 696,000 Texhong Textile Group Limited 831,927 632,060 0.56 197,000 Wheelock & Company Limited 1,036,760 1,006,324 0.90 15,193,152 15,557,742 13.89 India 146,000 Arvind Mills Limited 543,636 616,415 0.55 18,000 Britannia Industries Limited 750,453 781,009 0.70 86,352 Cox & Kings India Limited 443,702 318,473 0.28 20,422 Dalmia Bharat Limited 167,395 188,303 0.17 600,000 Dish TV India Limited 897,528 1,002,072 0.89 88,194 Eros International Media Limited 497,396 730,310 0.65 78,748 Oberoi Realty Limited 366,873 336,495 0.30 181,060 Sundram Fasteners Limited 500,104 430,343 0.38 84,180 Talwalkars Better Value Fit 495,133 394,804 0.35 33,000 Torrent Pharmaceuticals Limited 654,667 674,453 0.60 36,000 Welspun India Limited 312,997 363,431 0.32 5,629,884 5,836,108 5.19 Indonesia 10,162,200 Bank Pembangunan Daerah Jawa 713,168 624,975 0.56 25,000,000 Sri Rejeki Isman Tbk Pt 591,419 568,125 0.51 1,304,587 1,193,100 1.07 MANULIFE GLOBAL FUND 110

Asian Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Philippines 350,030 Cebu Air Inc. 711,889 659,852 0.59 12,159,000 Filinvest Land Inc. 410,635 501,572 0.45 1,122,524 1,161,424 1.04 Republic of Korea (South) 34,000 Aerospace Technology of Kore 794,873 798,602 0.71 5,900 Amorepacific Group Pfd 427,503 470,224 0.42 10,400 BGF Retail Company Limited 973,564 1,491,775 1.33 10,000 Cell Biotech Company Limited 578,759 587,208 0.52 12,000 Celltrion Inc. 785,459 839,124 0.75 2,000 Cj Cheiljedang Corp. 812,552 790,712 0.70 7,000 Daum Communications Corp. 791,482 791,968 0.71 3,100 E-Mart Company Limited 711,529 641,984 0.57 53,000 Enex Company Limited 172,758 277,960 0.25 12,000 Gs Retail Company Limited 321,019 502,399 0.45 3,600 Hanssem Company Limited 877,694 906,899 0.81 3,700 Honam Petrochemical Corp. 836,187 958,628 0.85 6,500 Hyosung Corp. 730,222 839,124 0.75 13,000 Hyundai Development Company 765,525 771,528 0.69 2,600 Hyundai Glovis Company Limited 597,956 470,842 0.42 12,340 Inbody Company Limited 408,298 549,822 0.49 13,829 Korea Electric Power Corp. 532,820 567,815 0.51 2,100 Medy-Tox Inc. 1,011,351 1,048,636 0.94 140,300 Meritz Securities Company Limited 529,108 896,804 0.80 1,300 Nhn Corp. 728,492 738,895 0.66 16,000 Osstem Implant Company Limited 806,493 975,392 0.87 25,000 Samsung C&t Corp. 1,625,010 1,483,708 1.32 3,670 Samsung Electronics Company Limited 4,201,560 4,171,917 3.73 806 Samsung Electronics Company Limited Pfd 749,065 717,521 0.64 12,098 Samsung Life Insurance 1,192,589 1,165,930 1.04 8,000 Sansung Life & Science Company 838,434 742,302 0.66 10,289 Sodiff Advanced Materials Company Limited 726,912 1,189,907 1.06 46,200 Vitzrocell Company Limited 470,349 482,523 0.43 23,997,563 25,870,149 23.08 Singapore 5,612 Avago Technologies Limited 581,850 747,069 0.67 241,000 Raffles Medical Group Limited 768,708 823,686 0.74 Taiwan 1,350,558 1,570,755 1.41 771,000 Azurewave Technologies Inc. 458,235 553,487 0.49 504,000 Cathay Financial Holding Company Limited 794,295 880,437 0.79 443,000 Chen Full International Company 708,104 709,267 0.63 273,000 Chilisin Electronics Corp. 294,789 609,622 0.54 489,000 E.Sun Financial Holding Company Limited 337,019 326,479 0.29 50,000 Ennoconn Corp. 538,446 597,154 0.53 111 MANULIFE GLOBAL FUND

Asian Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Taiwan (continued) 353,000 FLEXium Interconnect Inc. 962,465 1,430,092 1.29 394,000 Hon Hai Precision Industry Company Limited 1,187,194 1,238,645 1.11 376,000 Hota Industrial Manufacturing Company 857,223 1,208,867 1.09 Limited 10,000 Largan Precision Company Limited 744,698 1,142,453 1.02 296,000 Powertech Technology Inc. 528,385 640,836 0.57 165,000 Radiant Opto-Electronics Corp. 582,507 612,306 0.55 200,000 Shin Zu Shing Company Limited 652,054 606,715 0.54 299,000 Taiwan Paiho Limited 627,818 843,082 0.75 124,000 Taiwan Semiconductor Manufacturing 597,399 564,647 0.50 Company Limited 129,000 Tung Thih Electronic Company Limited 482,204 731,656 0.65 178,000 Turvo International Company Limited 536,984 429,789 0.38 10,889,819 13,125,534 11.72 Thailand 110,000 Bumrungrad Hospital pcl NVDR 585,841 609,016 0.54 585,841 609,016 0.54 Equities Total 97,716,090 107,718,638 96.12 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 97,716,090 107,718,638 96.12 Other transferable securities and money market instruments (2) Equities Cayman Islands 351,600 China Metal Recycling Holdings Limited a 370,832 0 0.00 370,832 0 0.00 Equities Total 370,832 0 0.00 Total Other transferable securities and money market instruments (2) 370,832 0 0.00 Portfolio of Investments 98,086,922 107,718,638 96.12 Other Net Assets 4,346,296 3.88 Net Assets 112,064,934 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 112

Asian Equity Fund Investment Objective: The sub-fund aims to achieve capital growth by investing in a diversified portfolio of securities of companies listed on stock markets throughout Asia, including those in Australia, Hong Kong, Indonesia, Malaysia, New Zealand, the People s Republic of China, the Philippines, Singapore, South Korea, Taiwan and Thailand, but not any of the stock exchanges in Japan. A proportion of the subfund may be invested in warrants and convertible bonds issued by, or in respect of, such companies. PERFORMANCE FROM 1 JULY 2014 TO 30 JUne 2015* Asian Equity Fund Class A +4.53% Asian Equity Fund Class AA +4.27% Asian Equity Fund Class I +4.99% MSCI AC Far East Free ex-japan Index +4.19% PORTFOLIO REVIEW The sub-fund outperformed during the twelve month period. The outperformance was broad-based, with strong positive contributions coming from stock selection decisions at the country and sector level and asset allocation decisions at the country level. Stock selection in all markets with the exception of Hong Kong and the Philippines contributed to outperformance. Stock selection was particularly strong in South Korea, Malaysia and Taiwan. The large underweight in Malaysia as well as allocation to India also supported performance during the period. In South Korea, the underweight in the banking sector and outperforming positions in the convenience retail, kitchen furniture and biotechnology sectors had a positive impact on performance. In Taiwan, our large underweight position in a leading semiconductor foundry company which announced disappointing results on back of slowing China smartphone growth and market share losses contributed to the outperformance. Stock selection in all sectors with the exception of energy and telecommunications contributed positively. Stock selection in consumer discretionary, financials and industrials contributed the most to performance. In the consumer discretionary sector, our auto exposure in Malaysia and auto parts exposure in Taiwan contributed meaningfully to outperformance. Our large underweight in the South Korea auto sector was an additional factor. In financials, our large weighting in Chinese financials, particularly insurance and banks, supported performance, as the stocks responded well to the series of interest rate and reserve requirement ratio cuts during the period. In the industrial sector, a South Korean manufacturer of key parts to the aerospace industry and our Chinese airline and railway exposure contributed to outperformance. South Korea remains the sub-fund s largest overweight. The sub-fund continues to hold an underweight position in most of the Southeast Asian markets. Additionally, our allocation to the mid and small cap sector, particularly in South Korea and Hong Kong performed well in the first half of 2015. This followed a period of substantial profit-taking in the last two months of 2014. Two Hong Kong-listed small cap companies, a leading energy management and measurement company and an electronic funds transfer point of sales company were key contributors. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 113 MANULIFE GLOBAL FUND

Asian Equity Fund MARKET REVIEW During the period, Asian equity markets recorded positive returns supported by accommodative monetary policy and continued low oil prices. In the US, the Federal Reserve (the Fed) ended its quantitative easing program in October 2014, after adding more than $3.5 trillion to the Fed s balance sheet. Economic data out of the US continued to suggest a modest recovery and that the Fed was on course to raise interest rates later in 2015. Third quarter GDP grew at a 5% annual rate before slowing in the first quarter of 2015 due to unseasonal weather. In Europe, the European Central Bank commenced its quantitative easing measures in March 2015 that will see the central bank buy 60 billion euros worth of bonds each month through to September 2016. However concerns over a possible Greek exit from the eurozone weighed on investor sentiment. Economic data towards the end of the period as was largely positive, first quarter 2015 GDP growth improved slightly while the manufacturing purchasing sub-fund s portfolio managers index increased to 52.5 in June 2015. In Asia, Chinese equities posted strong gains despite mixed economic data. First quarter 2015 GDP slowed to 7% as the People s Bank of China (PBoC) cut benchmark interest rates four times during the period in order to stimulate growth. Towards the end of the period, the official purchasing managers index (PMI) rose to 50.2 in May signalling a minor expansion in the manufacturing sector. Industrial production and retail sales figures towards the end of the period also saw moderate growth. However, trade data continued to disappoint. In Taiwan, the market declined slightly on global growth concerns and its impact on the technology manufacturing sector. In South Korea, the market was down while the Bank of Korea cut its interest rates to a record low of 1.5% in June 2015 due to an outbreak of the Middle East Respiratory Syndrome (Mers). In India, the equity market continued to make gains as first quarter 2015 GDP came in at 7.5%, while the Reserve Bank of India cut its key interest rate three times to 7.25%. Towards the end of the period, markets declined due to unseasonal rains damaging crops and the imposition of a minimum alternate tax on foreign institutional investors. In Indonesia, the equity market fell on worries over slowing growth and disappointing corporate earnings as first quarter 2015 GDP slowed to 4.7%. In Thailand, the equity market was flat as economic indicators remained lacklustre as first quarter 2015 GDP grew less than expected. In Malaysia, the market declined considerably as lower oil prices continued to weigh on sentiment despite a better than expected first quarter GDP reading of 5.6%. OUTLOOK The Sub-fund s portfolio manager recognises that the equity market has entered a period of weak seasonality, with growing macro-economic concerns combined with margin selling in some markets. Compelling long-term value has emerged in a number of our holdings and we plan to add on weakness to our holdings. The Sub-fund s portfolio manager is very constructive on the Asian markets for the medium-term. MANULIFE GLOBAL FUND 114

Asian Small Cap Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Australia 759,746 Altium Limited 2,513,550 2,595,945 0.60 1,800,000 Ardent Leisure Group 3,122,487 3,012,697 0.70 452,000 Aristocrat Leisure Limited 3,008,983 2,667,001 0.62 2,109,586 Capitol Health Limited 1,659,056 1,244,750 0.29 1,341,500 Lifehealthcare Group Limited 3,005,401 3,621,446 0.84 267,088 Mcmillan Shakespeare Limited 2,448,442 2,490,600 0.57 311,248 My Net Fone Limited 877,238 917,051 0.21 757,722 Retail Food Group Limited 4,292,845 3,173,460 0.73 391,608 Sandfire Resources Nl 1,763,166 1,736,772 0.40 200,000 Select Harvests Limited 1,141,607 1,696,860 0.39 16,311,129 Sino Gas & Energy Holdings 2,993,143 1,572,597 0.36 1,148,370 Sirius Resources Nl 2,642,447 2,922,934 0.67 186,000 Sirtex Medical Limited 4,460,336 4,167,565 0.96 33,928,701 31,819,678 7.34 Bermuda 180,000 Beijing Enterprises Water Group Limited 155,762 147,675 0.03 7,200,000 CGN Meiya Power Holdings Company 3,184,919 2,758,450 0.64 Limited 3,019,000 China Animal Healthcare Limited a 2,337,818 1,697,954 0.39 7,000,000 Global Brands Group Holding Limited 1,274,199 1,471,844 0.34 3,226,000 IT Limited 1,376,687 1,210,971 0.28 6,017,000 Pax Global Technology Limited 4,948,711 8,630,999 1.99 4,988,000 Skyworth Digital Holdings Limited 4,896,245 4,439,681 1.02 18,340,000 Town Health International Medical Group 3,424,659 4,897,179 1.13 Limited 21,599,000 25,254,753 5.82 Cayman Islands 13,359,000 Central China Real Estate Limited 4,265,675 3,791,167 0.87 21,016,000 Century Sage Scientific Holdings Limited 4,277,301 6,072,595 1.40 36,262,000 Century Sunshine Group Holdings Limited 3,628,479 3,835,675 0.89 2,500,000 China Harmony New Energy 3,549,903 2,789,539 0.64 2,943,500 China Hongqiao Group Limited 2,466,752 2,771,808 0.64 5,434,000 China Lesso Group Holdings Limited 3,372,895 4,423,084 1.02 9,197,000 China Sanjiang Fine Chemicals Company 3,800,571 3,191,352 0.74 Limited 3,600,000 CIMC Enric Holdings Limited 4,289,554 3,060,301 0.71 4,085,000 Cowell E Holdings Inc. 2,305,634 3,767,683 0.87 5,043,000 Dongpeng Holdings Company Limited 2,645,816 2,582,592 0.60 6,018,000 Fu Shou Yuan International 3,245,054 3,345,844 0.77 7,676,000 Fufeng Group Limited 3,686,097 5,693,496 1.30 1,457,000 Global Lighting Technologies Inc. 2,195,592 1,888,855 0.44 694,000 Gourmet Master Company Limited 3,390,111 3,362,635 0.78 11,296,000 Jiangnan Group Limited 3,337,184 3,249,420 0.75 2,500,000 Pacific Textile Holdings Limited 3,912,852 3,992,426 0.92 495,000 Silergy Corp. 4,084,565 5,085,615 1.17 115 MANULIFE GLOBAL FUND

Asian Small Cap Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Cayman Islands (continued) 6,471,000 Sitc International Company Limited 4,736,463 4,273,834 0.99 13,086,000 Tk Group Holdings Limited 2,962,009 4,372,028 1.01 700,000 Topbi International Holdings Limited 3,028,433 2,722,440 0.63 9,318,000 Wasion Meters Group Limited 7,555,870 14,375,738 3.31 430,000 Yeong Guan Energy Technology Group 3,101,061 3,128,699 0.72 Company Limited 5,697,500 Yestar International Holdings Company 1,855,638 2,557,642 0.59 Limited 81,693,509 94,334,468 21.76 China 3,584,000 Sichuan Xinhua Winshare Chainstore 4,481,279 4,299,591 0.98 Company Limited 4,481,279 4,299,591 0.98 Hong Kong 31,118,000 China Financial Services Holdings Limited 3,059,572 3,291,560 0.76 1,850,000 Dah Sing Banking Group Limited 3,938,124 4,047,379 0.93 19,904,000 EVA Precision Industrial Holdings Limited 4,774,837 5,853,983 1.35 3,200,000 Guotai Junan International 2,139,548 2,084,575 0.48 4,200,000 Huabao International Holdings Limited 4,649,027 2,530,128 0.58 1,352,000 Lee & Man Paper Manufacturing Limited 807,459 861,549 0.20 4,130,800 Man Wah Holdings Limited 3,524,725 4,055,039 0.94 8,310,000 Shenzhen Investment Limited 4,264,440 4,073,435 0.95 11,960,000 Sinofert Holdings Limited 3,103,212 2,746,170 0.63 4,978,000 Sun Hung Kai & Company Limited 4,494,375 4,469,309 1.03 2,067,000 Texhong Textile Group Limited 2,338,538 1,877,109 0.43 23,000,000 Tongda Group Holdings Limited 4,011,432 4,450,362 1.03 41,105,289 40,340,598 9.31 India 718,933 Cox & Kings India Limited 2,318,624 2,651,486 0.61 3,050,000 Dish TV India Limited 4,632,426 5,093,867 1.18 1,081,160 Eros International Media Limited 5,479,808 8,952,783 2.06 554,550 Finolex Cables Limited 1,313,724 2,173,244 0.50 865,892 Fortis Healthcare Limited 2,256,738 2,441,515 0.56 526,000 Indiabulls Housing Finance 4,924,641 5,141,626 1.19 142,731 Kaveri Seed Company Limited 1,975,464 1,649,930 0.38 1,962,948 KRBL Limited 2,006,660 5,050,862 1.17 500,000 Pc Jeweller Limited 3,100,870 3,016,738 0.70 220,767 SRF Limited 2,842,966 4,272,118 0.99 252,775 Strides Arcolab Limited 3,269,491 4,409,606 1.02 646,000 Voltas Limited 3,517,311 3,198,650 0.74 300,000 Welspun India Limited 2,866,635 3,028,595 0.70 40,505,358 51,081,020 11.80 Malaysia 2,888,037 Inari Amertron Bhd 1,816,019 2,487,707 0.57 1,816,019 2,487,707 0.57 Philippines 60,000,000 Filinvest Land Inc. 2,738,345 2,475,065 0.57 2,738,345 2,475,065 0.57 MANULIFE GLOBAL FUND 116

Asian Small Cap Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Republic of Korea (South) 293,000 Aerospace Technology of Kore 6,552,158 6,882,072 1.59 200,000 Binex Company 3,582,707 3,433,595 0.79 90,023 Celltrion Inc. 4,379,114 6,295,039 1.44 1,256,797 Enex Company Limited 2,375,042 6,591,303 1.53 191,362 Inbody Company Limited 5,724,030 8,526,335 1.97 70,000 Koh Young Technology Inc. 2,956,926 2,579,230 0.60 216,094 Mds Technology Company Limited 4,618,025 4,688,224 1.08 661,000 Mediaplex Inc. 4,415,564 5,007,356 1.16 11,600 Medy-Tox Inc. 5,201,323 5,792,466 1.34 163,681 Nasmedia Company Limited 2,292,903 7,806,569 1.80 101,300 Naturalendo Tech Company Limited 4,268,029 3,024,154 0.70 69,000 S&T Motiv Company Limited 3,902,709 4,113,590 0.95 478,328 Simm Tech Company Limited 4,415,139 4,056,647 0.94 370,000 SK Networks Company Limited 3,077,384 2,978,711 0.69 20,000 Viromed Company Limited 3,167,517 3,196,919 0.74 350,250 Vitzrocell Company Limited 3,237,813 3,658,090 0.84 225,378 Wonik Qnc Corp. 3,447,654 4,051,130 0.93 67,614,037 82,681,430 19.09 Singapore 3,002,000 Frencken Group Limited 806,828 446,095 0.10 3,641,000 Sheng Siong Group Limited 1,892,706 2,245,359 0.52 Taiwan 2,699,534 2,691,454 0.62 1,954,000 Alpha Networks Inc. 1,416,227 1,206,420 0.28 557,000 Bioteque Corp. 1,248,840 1,731,222 0.40 1,421,000 Bon Fame Company Limited 3,151,992 4,085,044 0.94 1,779,000 Chen Full International Company 2,300,854 2,848,275 0.66 1,010,000 Chin-Poon Industrial Company 1,824,932 1,538,503 0.35 20,000 Hermes Microvision Inc. 1,417,411 1,302,882 0.30 746,000 Hu Lane Associate Inc. 2,980,894 3,336,545 0.77 200,000 Kung Long Batteries Industrial Company 1,029,629 985,264 0.23 Limited 232,000 Lion Travel Service Company Limited 1,215,876 1,259,453 0.29 159,950 Poya Company Limited 912,732 1,702,937 0.39 289,000 Senao Networks Inc. 1,929,567 2,561,735 0.59 1,033,000 Shin Zu Shing Company Limited 2,830,035 3,133,684 0.72 1,629,000 Sinbon Electronics Company Limited 2,722,578 3,035,764 0.70 565,000 Sporton International Inc. 3,082,277 3,817,979 0.89 1,574,000 Sunspring Metal Corp. 2,967,256 2,550,667 0.59 1,431,000 Taiwan Paiho Limited 2,567,081 4,034,948 0.93 897,000 Taiwan Secom Company Limited 2,696,925 2,697,860 0.62 302,000 TSC Auto ID Technology Company Limited 2,544,054 2,652,499 0.61 877,000 Turvo International Company Limited 2,677,339 2,117,556 0.49 1,617,000 Wistron NeWeb Corp. 4,551,574 4,590,851 1.06 46,068,073 51,190,088 11.81 117 MANULIFE GLOBAL FUND

Asian Small Cap Equity Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Thailand 2,319,700 KCE Electronics NVDR 2,997,790 3,811,704 0.88 31,900,000 Thai Reinsurance pcl NVDR 3,084,036 2,890,058 0.67 6,081,826 6,701,762 1.55 Equities Total 350,330,970 395,357,614 91.22 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 350,330,970 395,357,614 91.22 Other transferable securities and money market instruments (2) Equities Cayman Islands 1,065,600 China Metal Recycling Holdings Limited a 1,127,922 0 0.00 1,127,922 0 0.00 Equities Total 1,127,922 0 0.00 Total Other transferable securities and money market instruments (2) 1,127,922 0 0.00 Portfolio of Investments 351,458,892 395,357,614 91.22 Other Net Assets 38,030,661 8.78 Net Assets 433,388,275 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 118

Asian Small Cap Equity Fund Investment Objective: The sub-fund aims to provide long-term capital growth for those investors who hold a long term investment view and are prepared to accept significant fluctuations in the value of their investments.the sub-fund s investment portfolio will be made on a diversified basis, for which its underlying securities will consist mainly of equity related investments and equities of smaller capitalization companies in the Asian and/or Pacific region. A proportion of the sub-fund may be invested in warrants, bonds and convertible bonds issued by, or in respect of, such companies. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Asian Small Cap Equity Fund Class AA -0.34% Asian Small Cap Equity Fund Class HA -1.07% Asian Small Cap Equity Fund Class HC -1.36% Asian Small Cap Equity Fund Class HI -0.53% Asian Small Cap Equity Fund Class I +0.35% MSCI Asia Pacific ex-japan Small Cap Index +0.58% PERFORMANCE FROM 21 JULY 2014 TO 30 June 2015 Asian Small Cap Equity Fund Class AA HKD -3.21% PORTFOLIO REVIEW The sub-fund s performance came from asset allocation decisions at both the sector and country levels. While stock selection contributed positively to performance in the first half of the period, this was offset by poor performance from stock selection in the second half of the period. Historically, stock selection has accounted for the major portion of the performance for the sub-fund, and thus this period was an exception, with asset allocation being the primary factor for outperformance. At the asset allocation level, our underweight positions in Australia, Singapore, Taiwan and Indonesia contributed positively to performance. Conversely, our overweight in India and South Korea had a similar positive impact. Due to concerns of slowing growth in Southeast Asia, we cut our limited exposure to these markets early in the second half of 2014. Stock selection in financials particularly, but also in utilities capped performance during the period. In financials, the underweight in Chinese financials was a key factor. Stock selection in consumer discretionary and information technology was a positive contributing factor. Stock selection in China, South Korea and Australia was weak. The sub-fund s performance during the period was negatively impacted by a sharp decline in the small cap markets in Australia, Hong Kong and South Korea during November and December 2014. During this period, a number of the sub-fund s South Korean holdings declined sharply for no fundamental reason, some hitting 52-week lows. In Hong Kong, China-related small cap equities sold off following the rate cut in November, with investors moving into large cap financials. The sub-fund s holdings in companies with smaller market capitalisations and less liquidity were particularly hard hit. Many of the holdings in these markets bounced back strongly in January 2015. Stock selection in Malaysia (primarily technology holdings not affected by the weak economy), Taiwan (auto parts and niche technology holdings) and Thailand (technology and solar exposure) contributed positively. Additionally, a kitchen furniture manufacturer and advertising company in South Korea were the key contributors to the sub-fund s performance. An energy measurement company and an electronic funds transfer point of sales terminal manufacturer in China also made significant contributions. India, Hong Kong/China and South Korea remain the sub-fund s largest overweights. The sub-fund continues to have an underweight in Australia and to most Southeast Asian markets. MARKET REVIEW During the period, Asian equity markets recorded positive returns supported by accommodative monetary policy and continued low oil prices. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 119 MANULIFE GLOBAL FUND

Asian Small Cap Equity Fund In the US, the Federal Reserve (the Fed) ended its quantitative easing program in October 2014, after adding more than US$3.5 trillion to its balance sheet. Economic data out of the US continued to suggest a modest recovery and that the Fed was on course to raise interest rates later in 2015. Third quarter gross domestic product (GDP) grew at a 5% annual rate before slowing in the first quarter of 2015 due to unseasonal weather. In Europe, the European Central Bank commenced its quantitative easing measures in March 2015 that will see the central bank buy 60 billion euros worth of bonds each month through to September 2016. However concerns over a possible Greek exit from the eurozone weighed on investor sentiment. Economic data towards the end of the period as was largely positive, first quarter 2015 GDP growth improved slightly while the manufacturing purchasing managers index increased to 52.5 in June 2015. In Asia, Chinese equities posted strong gains despite mixed economic data. First quarter 2015 GDP slowed to 7% as the People s Bank of China cut benchmark interest rates four times during the period in order to stimulate growth. Towards the end of the period, the official purchasing managers index (PMI) rose to 50.2 in May signalling a minor expansion in the manufacturing sector. Industrial production and retail sales figures towards the end of the period also saw moderate growth. However, trade data continued to disappoint. In Taiwan, the market declined slightly on global growth concerns and its impact on the technology manufacturing sector. In South Korea, the market was down while the Bank of Korea cut its interest rates to a record low of 1.5% in June 2015 due to an outbreak of the Middle East Respiratory Syndrome (Mers). In India, the equity market continued to make gains as first quarter 2015 GDP came in at 7.5%, while the Reserve Bank of India cut its key interest rate three times to 7.25%. Towards the end of the period, markets declined due to unseasonal rains damaging crops and the imposition of a minimum alternate tax on foreign institutional investors. In Indonesia, the equity market fell on worries over slowing growth and disappointing corporate earnings as first quarter 2015 GDP slowed to 4.7%. In Thailand, the equity market was flat as economic indicators remained lacklustre as first quarter 2015 GDP grew less than expected. In Malaysia, the market declined considerably as lower oil prices continued to weigh on sentiment despite a better than expected first quarter GDP reading of 5.6%. In Australia, the equity market was down over the period, hampered by falling commodity prices and weaker external demand. However, first quarter 2015 GDP grew at a better than expected 2.3%, while the Reserve Bank of Australia cut interest rates to a record low of 2%. OUTLOOK While the Sub-fund s portfolio manager remains constructive on the medium term outlook for Asian markets, they recognise there is uncertainty over the short-term, due to weak seasonality and high valuations in the Chinese domestic equity market. While Hong Kong-listed Chinese equities have recently been pressured by the decline in mainland shares, the Sub-fund s portfolio manager feels many are undervalued and will report better-than-expected earnings in the coming months. The Sub-fund s portfolio manager also notes that earnings in South Korea have been coming in better than analysts expectations in many cases. MANULIFE GLOBAL FUND 120

China Value Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Bermuda 27,308,000 CGN Meiya Power Holdings Company 6,022,611 10,462,190 0.93 Limited 6,896,000 China Gas Holdings Limited 12,980,122 11,048,290 0.98 2,090,000 China Resources Gas Group Limited 5,828,992 6,200,838 0.55 1,361,000 Haier Electronics Group Company Limited 3,339,690 3,669,278 0.32 8,040,000 Haitong International Securities Group 4,366,326 7,259,895 0.64 Limited 11,330,000 Luye Pharma Group Limited 10,731,938 12,130,655 1.07 2,777,500 Shenzhen International Holdings Limited 4,561,390 4,851,198 0.43 11,622,000 Sihuan Pharmaceutical Holdings 3,530,361 6,611,435 0.58 Group Limited 51,361,430 62,233,779 5.50 Cayman Islands 1,994,940 Cheung Kong Property Holding 7,544,526 16,546,915 1.46 11,987,000 China High Speed Transmission Equipment 6,153,717 10,406,431 0.92 Group Company Limited 3,397,555 China Resources Land Limited 7,766,561 11,022,516 0.98 3,626,000 China State Construction International 6,817,247 6,529,643 0.58 Holdings Limited 1,994,940 Ck Hutchison Holdings Limited 17,990,603 29,310,944 2.59 16,664,000 GCL Poly Energy Holdings Limited 5,024,742 3,847,765 0.34 16,916,500 Real Gold Mining Limited a 27,921,022 3,055,025 0.27 5,016,000 Shimao Property Holdings Limited 11,032,217 9,899,772 0.88 1,780,800 Tencent Holdings Limited 27,669,942 35,537,077 3.14 117,920,577 126,156,088 11.16 China 10,512,000 Agricultural Bank of China H 4,904,939 5,654,545 0.50 492,000 Air China Limited H 437,260 555,962 0.05 1,523,526 Anhui Gujing Distillery Company B 5,240,478 5,974,474 0.53 41,577,000 Bank of China Limited H 19,671,086 27,030,864 2.39 11,530,000 Bank of Communications Company Limited 8,849,848 12,017,577 1.06 3,473,000 BBMG Corp. 3,712,179 3,516,824 0.31 79,826,000 CGN Power Company Limited H 28,623,872 41,806,773 3.69 3,688,000 China Citic Bank Corp. Limited 2,485,924 2,940,056 0.26 4,764,000 China Communications Construction 3,983,569 7,128,629 0.63 Company Limited H 11,638,000 China Communications Services Corp. 5,827,721 5,884,921 0.52 Limited H 33,491,000 China Construction Bank Corp. 26,151,752 30,587,051 2.71 5,867,000 China Everbright Bank Company Limited H 3,218,478 3,519,211 0.31 5,631,000 China Life Insurance Company Limited H 18,825,476 24,515,206 2.17 9,575,000 China Longyuan Power Group Corp. 11,465,144 10,646,878 0.94 1,153,000 China Merchants Bank Company Limited H 3,415,785 3,361,352 0.30 1,908,027 China National Accord Medicines Corp Ltd B 5,122,872 11,819,059 1.05 121 MANULIFE GLOBAL FUND

China Value Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets China (continued) 3,508,000 China National Building Material Company 3,983,065 3,316,957 0.29 Limited H 19,076,000 China Petroleum & Chemical Corp. 16,952,140 16,462,268 1.46 5,552,000 China Railway Construction Corp. Limited 5,622,885 8,579,906 0.76 893,000 China Shenhua Energy Company Limited 2,598,928 2,036,620 0.18 2,904,000 China Telecom Corp. Limited 1,491,655 1,704,450 0.15 17,472,293 China Vanke Company Limited H 20,053,158 43,003,571 3.80 24,562,150 Chongqing Changan Automobile Company 24,135,872 62,829,751 5.56 Limited 7,005,900 CRRC H 4,247,578 10,754,423 0.95 379,600 GF Securities Company Limited H 922,897 976,400 0.09 18,526,000 Guodian Technology & Environment Group 4,646,351 2,796,042 0.25 Corp. Limited 875,200 Haitong Securities Company Limited H 1,445,232 2,314,395 0.20 32,400,000 Huadian Fuxin Energy Corp. H 13,667,894 15,505,835 1.37 8,440,000 Huadian Power International Company 3,256,861 9,352,158 0.83 51,874,000 Huaneng Renewables Corp. H 18,182,891 20,944,516 1.85 2,637,000 Huatai Securities Company Limited 8,436,094 7,449,558 0.66 34,205,160 Industrial & Commercial Bank of China H 22,072,120 27,179,946 2.40 4,881,040 Luthai Textile Company Limited 5,328,772 7,794,877 0.69 7,298,900 New China Life Insurance Company H 24,856,211 43,592,788 3.87 20,350,000 People s Insurance Company H 9,066,420 13,020,340 1.15 25,446,000 Petrochina Company Limited 32,486,489 28,393,039 2.51 659,000 Ping An Insurance Group Company of China 6,501,315 8,900,376 0.79 Limited 1,311,000 Qingdao Port International H 949,918 772,850 0.07 8,056,453 Shanghai Bailian Group Co. B 15,612,110 17,724,196 1.56 448,449 Shanghai Mechanical & Electrical Industry 1,460,078 1,376,738 0.12 Company B 391,400 Shanghai Pharmaceuticals Holding 1,213,390 1,090,563 0.10 Company Limited 5,291,000 Sinotrans Limited 3,966,150 3,528,618 0.31 935,500 Zhuzhou Csr Times Electric Company 5,684,322 7,011,262 0.62 Limited H 7,713,840 ZTE Corp. H 11,681,619 19,622,475 1.74 422,458,798 584,994,300 51.75 Hong Kong 4,030,600 Aia Group Limited 15,726,759 26,386,512 2.34 412,000 Beijing Enterprises Holdings Limited 3,171,442 3,101,090 0.27 2,103,000 Boc Hong Kong Holdings Limited 6,245,338 8,762,298 0.78 6,286,000 China Everbright Limited 12,552,394 21,812,371 1.93 604,000 China Merchants Holdings International 2,010,451 2,590,627 0.23 Company Limited 2,741,500 China Mobile Limited 30,850,988 35,099,022 3.10 910,000 China Overseas Land & Investment Limited 2,603,331 3,210,517 0.28 12,564,000 China Power International Development 3,897,731 9,578,371 0.85 Limited 7,060,047 China Taiping Insurance Holdings Company 21,195,378 25,363,491 2.24 Limited 9,248,000 China Unicom Hong Kong Limited 14,808,453 14,554,051 1.29 17,880,000 CSPC Pharmaceutical Group Limited 10,586,688 17,667,395 1.57 1,027,600 Dah Sing Banking Group Limited 1,695,696 2,248,155 0.20 2,850,000 Far East Horizon Limited 3,044,874 2,713,173 0.24 MANULIFE GLOBAL FUND 122

China Value Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Hong Kong (continued) 114,250 Hong Kong Exchanges & Clearing Limited 2,610,037 4,032,260 0.36 3,322,000 Pccw Limited 1,806,017 1,984,069 0.18 8,304,000 Peace Mark Holdings Limited a 1,573,331 0 0.00 899,000 Shanghai Industrial Holdings Limited 3,611,144 3,049,943 0.27 7,764,000 Shenzhen Investment Limited 4,114,852 3,805,795 0.34 9,854,000 Sino-Ocean Land Holdings Limited 7,798,848 7,448,802 0.66 716,600 Swire Properties Limited 2,453,438 2,287,854 0.20 13,208,000 Tao Heung Holdings Limited 4,352,074 5,758,774 0.51 156,709,264 201,454,570 17.84 Singapore 66,943,000 Siic Environment Holdings Limited 8,620,657 9,698,997 0.86 8,620,657 9,698,997 0.86 Taiwan 6,144,600 Cathay Financial Holding Company Limited 10,208,377 10,733,996 0.95 1,325,000 Delta Electronics Inc. 8,817,878 6,785,034 0.60 9,048,000 Fubon Financial Holding Company Limited 14,675,656 18,005,285 1.59 6,884,800 Hon Hai Precision Industry Company Limited 21,191,335 21,644,228 1.92 17,890,000 Kinpo Electronics 8,081,397 6,638,881 0.59 1,046,000 Quanta Computer Inc. 2,655,725 2,474,763 0.22 24,165,146 Shin Kong Financial Holding Company Limited 7,555,420 7,377,672 0.65 10,769,000 Taiwan Semiconductor Manufacturing 42,628,390 49,037,772 4.34 Company Limited 115,814,178 122,697,631 10.86 Equities Total 872,884,904 1,107,235,365 97.97 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 872,884,904 1,107,235,365 97.97 Other transferable securities and money market instruments (2) Equities Hong Kong 7,146,000 Euro-Asia Agricultural Holdings Company Limited a 1,191,427 0 0.00 1,191,427 0 0.00 Equities Total 1,191,427 0 0.00 Total Other transferable securities and money market instruments (2) 1,191,427 0 0.00 Portfolio of Investments 874,076,331 1,107,235,365 97.97 Other Net Assets 22,983,297 2.03 Net Assets 1,130,218,662 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements. 123 MANULIFE GLOBAL FUND

China Value Fund Investment Objective: The sub-fund aims to achieve long-term capital growth through investments primarily in companies with substantial business interests in the Greater China Region (which includes the PRC, Hong Kong and Taiwan), which are listed or traded on the stock exchanges of Shanghai, Shenzhen, Hong Kong, Taipei or other overseas exchanges, and which are currently undervalued but which may have long-term growth potential. The Sub-Fund s investments will generally be in equity securities of its target companies, although it may also invest in convertible bonds and depository receipts issued by such companies, in all cases, within the limits of the investment and borrowing powers and restrictions contained in the Prospectus. Investments of the Sub-Fund may also include A-Shares and/or B-Shares listed on the Shanghai Securities Exchange and the Shenzhen Stock Exchange in Mainland China. The Sub-Fund is not investing at the A-Share market for the time being, but may invest in it with a maximum of 30% of its net asset value at a time that the Directors and Investment Manager determine. Prior notice will be given to the relevant investors and the name of the QFII will be disclosed should the Sub-Fund determine in the future to invest in the A-Share market. The Sub-Fund may also invest in fixed-income securities and hold cash on an ancillary basis, if determined to be appropriate by the Investment Manager. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* China Value Fund Class A +25.10% China Value Fund Class AA +24.79% China Value Fund Class HA +24.12% China Value Fund Class HC +23.75% China Value Fund Class HI +24.99% FTSE All World Greater China Index +15.54% Hang Seng Index +17.52% Hang Seng Red Chips Index +11.59% Hang Seng H Shares Index +30.73% MSCI China Free Index +24.61% PORTFOLIO REVIEW The Chinese stockmarkets moved higher amid volatility in the review period. As a consequence, the Share Class AA made a net gain of 24.79%. For reference, the FTSE Greater China Index gained 15.54% over the same period. The sub-fund outperformed the market (represented by the FTSE Greater China Index) primarily because of its stock selection in the financial and industrial sectors. In the review period, the sub-fund s portfolio manager have taken a more proactive stance in our portfolio and maintained a low cash allocation. Compared with the reference index, the sub-fund s portfolio manager continued to remain underweight in Taiwan and overweight in China, particularly in sectors such as insurance, property, health care and oil & gas. The portfolio s overweight exposure to the Chinese insurance sector is in-line with our positive view towards Chinese financial stocks amidst China s rate cut cycle. In the past two to three years, valuations of Chinese insurance stocks have been falling as insurers investment gains were dragged by the poor performance of stock and bond markets. Besides, the relatively higher returns offered by wealth management products also weakened the competitive advantage of insurance policies. However, amidst rate cut cycles, falling interest rates will boost bond prices and the stock market is also likely to perform well, generating better investment returns to insurance companies. At the same time, interest rate cuts will lead to a decline in the returns of wealth management products, making insurance policies more appealing and hence improving the business of insurers. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 124

China Value Fund The sub-fund s portfolio manager have also increased the portfolio s exposure to the Chinese banking sector which has benefited from China s monetary loosening. In terms of valuations, Chinese banks were among the cheapest in Asia or even globally. Valuations have remained low as investors are worried that Chinese banks have understated their non-performing loan (NPL) ratios. In fact, the valuations of Chinese banks have implied an overly pessimistic NPL formation. As such, the sub-fund s portfolio manager think that this has fully priced in the risks. Additionally, more targeted monetary loosening as well as potential reserve requirement ratio (RRR) cuts by the People s Bank of China (PBoC), if any, may provide support to drive loan growth higher and benefit the Chinese banking sector. Overall speaking, while the top contributor was the financial sector, industrials also contributed positively to the Fund s performance. Meanwhile, the oil & gas sector has been the main detractor to the subfund. MARKET REVIEW The Greater China equity market recorded strong gains amid volatility during the review period. Within the region, while Taiwanese stocks underperformed in general, the Chinese equity market outperformed and saw a strong rally towards mid-june before a major correction near the end of the month. At the beginning of the review period, the Chinese stockmarket continued its upward momentum from the first half of 2014 on the back of various positive economic data. After a temporary correction in September, market sentiment turned more positive again in October when the property sector in China started to see some early signs of recovery following a series of loosening measures by the Chinese government. In November, the widely anticipated Shanghai-Hong Kong Stock Connect finally went live. Investment flows have been active northbound, but southbound flows have been relatively muted. Before the end of the month, the PBoC surprised the market by announcing a cut in interest rates on 21 November, two years after its last rate cut in July 2012. Since then, the Chinese government continued to roll out more accommodative policies such as interest rate cuts, reserve requirement ratio (RRR) cuts, and property-loosening measures. The loosening stance of the government provided solid support to market sentiment, coupled with positive reform measures including the local government debt swap plan which helped to reduce risks of bad debt, the Chinese stockmarket climbed higher in the first half of 2015 despite a temporary correction in January 2015. With China A shares rallying, the positive sentiment also spilled over to other Chinese stocks including the B-share and the H-share markets. However, the rapid and sharp rally has caused valuations of many A-share stocks become overstretched. By mid-june, the Shanghai Composite Index surged 152% since July 2014 and climbed 60% since the beginning of 2015. Meanwhile, the Shenzhen Stock Exchange s Small and Medium Enterprise (SME) Board rose 138% since early 2015 till mid-june. With the China Securities Regulatory Commission s (CSRC) tightened margin financing in late June, Chinese retail investors, who have been dominating the stockmarket and sitting on huge paper gains, rushed to cash in their positions. This has unwound bubbles created by hot money flows and exacerbated the market correction. The intensified stock price decline escalated deleveraging pressures and forced more people to search for downside protection. These self-reinforcing forces have turned into a vicious cycle. As of 8 July 2015, the Shanghai Composite Index plunged 32% from its peak on 12 June and H shares (represented by Hang Seng China Enterprises Index) dropped 21% over the same period. (Note: all index performances in this paragraph are in local currency terms.) OUTLOOK While China investing has always been a roller-coaster ride, this time the swing was wilder and more frightening than usual. From past experience, the sub-fund s portfolio manager know it is important to step back and evaluate calmly. Our conclusion is that the situation was not as bad as it might seem. Here are our reasons: Not a real collapse. Actually, despite the recent fall, Chinese equities as measured by the Shanghai A-share market (represented by the Shanghai Composite Index), still show a gain of about 8% year to date and 70% over the past 12 months as of 8 July 2015 (all in local currency terms). The crash in June and early July 2015 has hurt those who entered the market recently, but the numerous investors who have been in the market for a longer period are still profitable. This explains a lack of real panic, and it is a reason not to over-react to the severe setback in June and July. After all, a bull market has to climb a wall of worry. And we believe the positive long-term momentum in the A-share market will likely continue to spill over to the Hong Kong market. 125 MANULIFE GLOBAL FUND

China Value Fund Capitalism with Chinese characteristics means that the government has huge power to influence markets. Developing a healthy stockmarket is a top official priority, and many tools remain available to make this happen. For example, the government has significant room to reduce interest rates and bank reserve ratios. Unlike some Western countries, Chinese government agencies can intervene forcefully in the market to get what they want without the need to gain legislative approval. The central bank has come out to provide liquidity to the China Securities Finance Corporation, a government-backed agency that has been buying shares in the market. Our impression is that because the market s recent fall hasn t caused social or financial instability, the government hasn t felt a pressing need to bring out the bazooka. China has the world s biggest pool of savings, but the wealth is mainly allocated to bank deposits and real estate, with the amount tied up in stocks estimated at only 10% to 15% of household wealth. Some of the worst excesses in the market have been purged, at least for the time being. For example, the excessive use of margin loans to buy stocks is widely blamed for the plunge but in recent weeks, the outstanding amount of margin loans has dropped to less than 1.5 trillion renminbi from a peak of 2.3 trillion renminbi on 18 June. The total is dropping so quickly that it should be below 1 trillion renminbi (the level at the end of 2014) by mid-july. And valuations have become much more reasonable, especially for the Hong Kong-listed H shares, which is our favorite segment of the Chinese equity markets. As of 8 July 2015, the H shares (represented by the MSCI China Index) traded at about 9.2 times forward earnings, a 22% discount to its 10-year average. It is possible only time will tell that what has happened will be seen as a swift and frightening correction within the context of an on-going bull market. In a market with Chinese characteristics, brutal corrections need to happen from time to time to cure excesses that could otherwise make it impossible to sustain a healthy market. The recent troubles do have some lingering impact, however. Renewed caution among investors is apparent, and in the big cities with concentrations of stockmarket speculators, there may be some negative wealth effect, the sub-fund s portfolio manager also see a possible slowdown in China s reform agenda. The Chinese government is sincere about wanting to deregulate financial markets and further liberalize capital flows in and out of the country but it may now do this more cautiously, to safeguard its power to carry out market interventions. MANULIFE GLOBAL FUND 126

Dragon Growth Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Bermuda 202,000 Cheung Kong Infrastructure Holdings Limited 1,116,254 1,568,643 1.01 2,764,000 China Animal Healthcare Limited a 1,811,366 1,554,536 1.00 8,018,000 Gome Electrical Appliances Holdings Limited 2,026,585 1,768,636 1.14 872,000 Pax Global Technology Limited 1,285,297 1,250,828 0.81 6,239,502 6,142,643 3.96 Cayman Islands 5,770 Baidu.com ADR 1,265,276 1,166,463 0.75 678,000 Car Inc. 908,036 1,443,078 0.93 315,032 Cheung Kong Property Holding 1,426,094 2,613,015 1.69 1,182,444 China Resources Land Limited 2,797,229 3,836,144 2.47 1,270,000 China State Construction International 2,180,435 2,286,996 1.48 Holdings Limited 1,183,000 China ZhengTong Auto Services Holdings 538,348 770,641 0.50 Limited 315,032 Ck Hutchison Holdings Limited 3,400,660 4,628,653 2.99 1,879,000 Cowell E Holdings Inc. 1,029,699 1,733,042 1.12 55,323 Jd.Com Inc. ADR 1,470,534 1,858,853 1.20 558,000 Kingsoft Corp. Limited 1,671,381 1,882,271 1.21 1,504,000 Sino Biopharmaceutical 1,785,606 1,746,090 1.13 4,060,000 Sinosoft Technology Group 2,369,156 2,974,751 1.93 2,275,000 Spg Land Holdings Limited 2,196,973 1,763,730 1.14 569,100 Tencent Holdings Limited 5,880,813 11,356,778 7.33 677,000 Vinda International Holdings 1,027,260 1,418,244 0.92 2,130,000 Wisdom Holdings Group 644,891 1,673,297 1.08 30,592,391 43,152,046 27.87 China 1,864,000 Angang Steel Company Limited H 1,524,728 1,286,400 0.83 9,374,000 Bank of China Limited H 5,041,157 6,094,411 3.93 1,610,000 Beijing Capital International Airport Company 1,652,651 1,856,691 1.20 Limited H 300,000 Byd Company Limited 1,391,061 1,801,429 1.16 3,568,000 CGN Power Company Limited H 1,681,427 1,868,646 1.20 1,620,000 China Communications Construction 1,409,107 2,424,093 1.56 Company Limited H 7,389,000 China Construction Bank Corp. 5,700,857 6,748,312 4.36 1,704,000 China Eastern Airlines Corp. Limited 815,368 1,426,562 0.92 821,000 China Life Insurance Company Limited H 3,138,717 3,574,318 2.31 753,000 China Merchants Bank Company Limited H 2,344,518 2,195,228 1.42 1,094,000 China Oilfield Services Limited 2,356,036 1,744,263 1.13 2,644,000 China Petroleum & Chemical Corp. 2,300,108 2,281,728 1.47 254,500 Dalian Wanda Commercial Properties 1,927,718 2,046,918 1.32 Company Limited H 389,500 Great Wall Motor Company Limited 1,979,755 1,909,270 1.24 1,508,000 Huadian Power International Company 1,316,653 1,670,978 1.08 381,800 Huatai Securities Company Limited 1,252,419 1,078,590 0.70 7,706,000 Industrial & Commercial Bank of China H 5,782,696 6,123,306 3.95 127 MANULIFE GLOBAL FUND

Dragon Growth Fund Portfolio of Investments as at 30 June 2015 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets China (continued) 107,100 Legend Holdings Corp. 593,835 598,901 0.39 2,332,000 Petrochina Company Limited 2,984,432 2,602,081 1.68 546,500 Picc Property & Casualty Company Limited 822,179 1,244,965 0.80 390,000 Ping An Insurance Group Company of China 4,056,280 5,267,294 3.40 Limited 607,600 Shanghai Pharmaceuticals Holding Company 2,087,445 1,692,964 1.09 Limited 229,500 Zhuzhou Csr Times Electric Company 1,843,048 1,720,026 1.11 Limited H 54,002,195 59,257,374 38.25 Hong Kong 1,185,600 Aia Group Limited 5,333,740 7,761,586 5.01 430,000 Boc Hong Kong Holdings Limited 1,228,984 1,791,625 1.16 915,000 China Everbright International Limited 581,083 1,640,636 1.06 424,000 China Merchants Holdings International 1,649,297 1,818,586 1.17 Company Limited 663,000 China Mobile Limited 7,506,988 8,488,291 5.48 413,600 China Taiping Insurance Holdings Company 1,641,234 1,485,874 0.96 Limited 1,122,000 China Unicom Hong Kong Limited 1,780,289 1,765,749 1.14 1,112,000 Cnooc Limited 2,122,254 1,577,879 1.02 405,000 Galaxy Entertainment Group Limited 3,095,336 1,614,320 1.04 1,374,000 Guangdong Investment Limited 1,667,825 1,924,832 1.24 124,600 Hong Kong Exchanges & Clearing Limited 2,138,320 4,397,546 2.83 214,500 Link Real Estate Investment Trust 1,053,790 1,256,202 0.81 216,000 Mtr Corp. 1,004,186 1,005,859 0.65 1,258,000 New World Development Limited 1,563,977 1,645,488 1.06 146,000 Sun Hung Kai Properties Limited 1,970,341 2,365,477 1.53 34,337,644 40,539,950 26.16 Singapore 1,014,000 Sound Global Limited a 1,098,084 824,052 0.53 1,098,084 824,052 0.53 Equities Total 126,269,816 149,916,065 96.77 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 126,269,816 149,916,065 96.77 Portfolio of Investments 126,269,816 149,916,065 96.77 Other Net Assets 5,011,002 3.23 Net Assets 154,927,067 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 128

Dragon Growth Fund Investment Objective: The sub-fund aims to achieve capital growth by investing in a diversified portfolio of public companies which are listed on the Stock Exchange of Hong Kong Limited and/or the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited and/or, although not incorporated or listed on either stock exchange in Hong Kong, are incorporated or listed on a stock exchange in any other jurisdiction and have substantial business interests in Hong Kong and/or derive a substantial portion of their revenue from their business carried in Hong Kong. A proportion of the sub-fund may also be invested in equity warrants and convertible bonds issued by, or in respect of, such companies. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Dragon Growth Fund Class A +20.93% Dragon Growth Fund Class AA (HKD)** +20.62% MSCI Zhong Hua Index +20.44% PORTFOLIO REVIEW The sub-fund outperformed during the 12 month period. This outperformance was primarily attributable to strong stock selection decisions at the sector level and asset allocation decisions at the country level. Stock selection in China and in the financials, consumer discretionary and consumer staples sectors were the main contributors to performance. A Chinese life insurance company performed strongly amid improvement in its agency sales force, coupled with strong productivity enhancements. A Chinese company involved worldwide infrastructure construction also performed well after signing a contract to build an underwater tunnel in Bangladesh while its dredging business remains a bright spot with strong new orders and revenue growth. Additionally, a Chinese airline rose as low fuel prices drove earnings revisions. Key detractors included a Chinese life insurance company that fell on fears the Chinese equities were entering a bear market. Despite the recent share price correction, the Sub-fund s portfolio manager views this as a good opportunity for the Chinese life insurers given the strong fundamentals and strong operating momentum. Strong stock selection in China was offset by stock selection in Hong Kong. However, stock selection in a number of sectors, particularly financials, consumer discretionary, consumer staples and industrials were positive contributing factors. China remains the sub-fund s largest overweight while the sub-fund continues to have an underweight in Hong Kong. MARKET REVIEW Chinese equities continued to make strong gains over the period, advancing to seven year highs despite mixed economic data. However, the equity market saw more volatility towards the end of the period as authorities moved to curb margin financing and liquidity tightened. China s first quarter GDP grew at 7%, its slowest pace in six years, down from 7.3% in the fourth quarter of 2014. The official manufacturing purchasing managers index (PMI) fell from 51.0 in July 2014 to 49.8 in January 2015, the lowest reading in two and a half years before recovering to 50.2 in May 2015. Industrial production and retail sales figures towards the end of the period saw moderate growth. However, new house prices continued to decline after first showing a year-on-year fall in September 2014. Meanwhile, China s fixed-asset investment rose 11.4% in the first five months of 2015, the slowest rate in nearly 15 years. Policy wise, the People s Bank of China (PBoC) cut interest rates four times during the period, reducing the one-year lending rate to 4.85% and the one-year deposit rate to 2%, while reserve requirement ratios (RRR) for banks were also cut. During the period, the Chinese government also revealed further details for a modern Silk Road under the One Belt, One Road plan to increase infrastructure investment across Asia, Africa and Europe. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. ** Previously Class AA 129 MANULIFE GLOBAL FUND

Dragon Growth Fund Authorities also announced further market reforms, including allowing mainland mutual funds to invest in Hong Kong shares via the Shanghai-Hong Kong Stock Connect and a mutual recognition scheme that will allow funds domiciled in either Hong Kong or the mainland to be marketed and distributed across both territories. OUTLOOK In China, the equity market corrected sharply in June but was still up on a year-to-date basis as investors took profit after a prolonged market rally. The government continues to undertake a program of monetary and fiscal support measures designed to maintain an appropriate balance between ongoing structural reform and the need to maintain sufficient economic growth. The government has also shifted from targeted to more broad based measures to focus on the wider economy. The Sub-fund s portfolio manager believes that further stimulus measures such as interest rate cuts, reserve requirement ratio (RRR) cuts and moderate liquidity injections are likely to follow in the months ahead. In addition, the Sub-fund s portfolio manager anticipates more relaxation in property related polices and the government is also expected to boost infrastructure investment through the One Belt, One Road development program. Furthermore, the Sub-fund s portfolio manager believes state owned enterprise (SOE) reforms will raise the efficiency and competitiveness of SOEs, benefiting sectors such as telecommunications and energy. In addition, the market continues to be buoyed by Qualified Domestic Institutional Investor (QDII) funds and domestic retail investors buying Hong Kong-listed Chinese stocks that are trading at a discount to their A-share peers via the Stock Connect. The industrial sector has also performed strongly recently. Railway companies in particular, have been buoyed by the merger between CSR and CNR, as well as potential overseas orders driven by the One Belt, One Road scheme and the establishment of the Asia Infrastructure Investment Bank. Furthermore, the Sub-fund s portfolio manager believes the upcoming launch of the Shenzhen-Hong Kong Connect is likely to be a positive for the overall market as it will open up more investment opportunities for investors. Overall, the Sub-fund s portfolio manager remains relatively conservative on portfolio construction and will focus more on company quality and earnings growth potential rather than strong economic recovery expectation and thematic plays. MANULIFE GLOBAL FUND 130

Emerging Eastern Europe Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Canada 463,728 Bankers Petroleum Limited 1,491,763 1,124,313 1.03 1,491,763 1,124,313 1.03 Czech Republic 9,389 Komercni Banka AS 1,404,394 2,076,383 1.89 1,404,394 2,076,383 1.89 Hungary 87,435 OTP Bank plc 1,500,856 1,727,285 1.58 1,500,856 1,727,285 1.58 Ireland 344,776 Dragon Oil plc 3,143,851 3,944,325 3.60 3,143,851 3,944,325 3.60 Kazakhstan 150,501 Kcell JSC 1,585,979 1,307,854 1.19 1,585,979 1,307,854 1.19 Poland 33,844 Bank Zachodni WBK SA 2,985,420 3,032,478 2.77 594,538 Powszechna Kasa Oszczednosci Bank Polski 7,263,629 4,940,971 4.51 SA 77,266 Prime Car Management Sa 888,020 878,200 0.80 11,137,069 8,851,649 8.08 Romania 6,143,545 Fondul Proprietatea SA 1,138,038 1,223,860 1.12 12,152,000 Omv Petrom Sa Snp Ro 1,578,912 1,142,982 1.04 2,716,950 2,366,842 2.16 Russian Federation 41,054,488 Eon Russia OJSC 3,084,979 2,236,813 2.04 220,470 Lenta Limited Reg 2,930,304 1,641,399 1.50 95,534 Lukoil OAO ADR 4,870,095 4,197,764 3.83 131,566 Lukoil OAO ADR 9,293,285 5,782,983 5.27 25,018 Magnit Pjsc Mgnt Ru 3,822,786 5,077,964 4.63 191,288 MMC Norilsk Nickel ADR 3,359,782 3,242,332 2.96 624,818 Mobile Telesystems Ojsc Mtss Rx 2,434,515 2,733,301 2.49 2,356,967 Moscow Exchange Micex 4,511,781 2,917,496 2.66 162,891 Phosagro OAO GDR 1,565,713 2,076,860 1.89 4,170,610 Sberbank RF 4,087,198 5,370,257 4.89 8,412,330 Surgutneftegaz JSC Pfd 5,470,693 6,424,864 5.85 156,224 Tatneft ADR 5,369,383 4,969,485 4.53 342,900 TMK OAO GDR 3,128,137 1,450,467 1.32 145,116 X 5 Retail Group NV GDR Reg 2,139,213 2,485,112 2.27 56,067,864 50,607,097 46.13 131 MANULIFE GLOBAL FUND

Emerging Eastern Europe Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Turkey 749,240 Akbank TAS 2,181,882 2,161,350 1.97 502,295 Arcelik AS 3,173,538 2,686,948 2.45 124,818 Bim Birlesik Magazalar AS 2,169,246 2,229,143 2.03 109,569 Coca-Cola Icecek AS 2,784,950 1,812,580 1.65 131,537 Pegasus Hava Tasimaciligi AS 1,339,391 1,194,831 1.09 397,972 Tav Havalimanlari Holding AS 1,484,697 3,332,658 3.04 495,654 Tofas Turk Otomobil Fabrik 2,386,158 3,331,631 3.04 45,403 Turk Traktor ve Ziraat Makineleri AS 591,546 1,169,451 1.07 1,421,369 Turkiye Garanti Bankasi AS 5,755,968 4,434,647 4.04 5,031,531 Turkiye Sinai Kalkinma Bankasi AS 3,232,898 3,203,541 2.92 25,100,274 25,556,780 23.30 United Kingdom 385,521 International Personal Finance plc 1,784,248 2,793,543 2.55 303,490 Nostrum Oil & Gas plc 3,692,709 2,795,530 2.55 320,091 Stock Spirits Group plc 1,474,834 964,957 0.88 6,951,791 6,554,030 5.98 Virgin Islands (British) 120,475 Mail.Ru Group Limited GDR 3,526,325 2,512,506 2.29 3,526,325 2,512,506 2.29 Equities Total 114,627,116 106,629,064 97.23 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 114,627,116 106,629,064 97.23 Portfolio of Investments 114,627,116 106,629,064 97.23 Other Net Assets 3,036,507 2.77 Net Assets 109,665,571 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 132

Emerging Eastern Europe Fund Investment Objective: The sub-fund aims to achieve capital growth through investment primarily in securities which are listed or traded on the stock exchanges of Central and Eastern European countries. It is intended that the sub-fund will initially be concentrating (although not necessarily exclusively) on securities listed or traded on stock exchanges in the Czech Republic, Hungary, Poland, Slovakia and Russia whilst such securities may also be listed in other exchanges as depository receipts or certificates, or in other forms of instruments. However, the sub-fund will seek to broaden its participation in other markets within the region as they develop. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Emerging Eastern Europe Fund Class A -28.88% Emerging Eastern Europe Fund Class AA -29.01% MSCI Emerging Europe 10/40 Index -24.94% PORTFOLIO REVIEW The sub-fund returned a negative performance over the 12-month period ending June 2015, with share prices suffering marked falls across the region with a sharply weaker oil price, the ongoing conflict in Ukraine, political uncertainty in Turkey, and the precarious financial position of Greece all conspiring to send local currencies and stockmarkets lower. Against this volatile backdrop, share price movements only reflected company-specific developments to a minor extent, with top-down macroeconomic and risk considerations dominating. The performance of the sub-fund with respect to underlying markets was primarily due to its stock selection, especially in Russia. A number of portfolio holdings added significant value however. These included the Russian oil and gas group Surgutneftegas, which held up well thanks to a yield of some 20% on its preference shares and a cash position that exceeds its market capitalisation; with the cash held in US dollars, the stock presents a perfect hedge against rouble weakness. Dragon Oil, an oil and gas exploration and production company operating in the Caspian Sea off-shore Turkmenistan, also performed well after receiving a takeover approach from Emirates National Oil Company, which already owns 54% of the stock. The bid values the company at GBp 750 per share and although some shareholders have suggested that this undervalues the company, the sub-fund s portfolio manager believes that it represents a fair value for the asset. The Turkish car group Tofas was a further positive contributor as its share price rose on the back of very strong car sales, particularly over the first half of 2015. The sub-fund did have some investments in Greece over the period under review. Any exposure to Greece was however completely divested before the stockmarket was closed and capital controls were introduced as the bail-out negotiations came to a head. Nevertheless, this exposure was a drag on performance with a position in Alpha Bank the most damaging. Elsewhere, Russia s largest retailer Magnit ran into significant profit taking after a very strong relative performance, detracting from performance. Operationally, the company continues to go from strength to strength, benefiting from higher food price inflation and accelerating traffic as customers shift from corner shops and open air markets to discounters. Significant changes to the portfolio included the divestment of the Russian gas giant Gazprom in favour of LUKOIL, which provides higher quality, better visibility, a higher dividend stream and better corporate governance. A new holding in Tatnedft was also introduced to the portfolio. Tatneft is one of the few Russian companies not beholden to the central government with a majority stake effectively held by the fiercely independent Republic of Tartarstan. Its share price fell to a level sufficient to compensate for any rouble weakness, with the company also benefiting from generous free cashflow and an attractive dividend payment. MARKET REVIEW Emerging European stockmarkets suffered sharp falls over the latter part of 2014 and although finding some stability in 2015 still closed the period under review with losses of around 25%. All markets were weaker, with Russia leading the way as a sharp fall in the price of oil, combined with the imposition of EU sanctions, saw the rouble lose significant value and the economy fall into recession. Turkey suffered at the hands of political uncertainty, as the incumbent administration appeared to lose its grip on power, despite an ongoing robust economic performance. With the conflict in Ukraine dragging on without either resolution or escalation and thus slipping out of the limelight, Greece was the focus of 133 MANULIFE GLOBAL FUND

Emerging Eastern Europe Fund the market s attention for much of the period and especially later in 2015 as tense bail-out negotiations threatened to eject the country from the single currency. In the event, Greece agreed to its creditors demands, received additional funding and was able, for the time being, to remain within the euro zone. The fall in the oil price, from close to USD 110 a barrel in mid-2014 to below USD 50 a barrel in early 2015, occurred against a backdrop of unfettered supply from oil producers amidst some concern for slowing global economic activity, and hence demand for oil, particularly in China. The Russian economy is heavily dependent upon oil production and this development resulted in a sharp fall in the value of the rouble, to which the central bank responded with significant intervention in the foreign currency market and a sharp rise in interest rates. As the price of oil bounced from its near-term low, to close the period under review above USD 60 a barrel, the central bank was able to reverse some part of its interest rate hike as the rouble recovered somewhat. As a result of these developments it now seems likely that the Russian economy may contract by as much 2% this year, though forecasts made at the turn of the year were considerably more gloomy than this. In Turkey, there were two key elections for the markets to consider. In August 2014, Recep Tayyip Erdogan, previously the prime minister, became Turkey s first directly elected president. This outcome was widely expected and discounted in the markets and seemed to herald a move towards a more executive presidency. In order to effect this constitutional change however, the AK Party would need to win a convincing victory in the June 2015 parliamentary elections. In the event, voters concerns surrounding Erdogan s increasingly autocratic style deprived the AK Party not only of a majority large enough to change the constitution but also of an outright victory itself. At the end of the period under review, the make-up of any new government remained uncertain with coalition negotiations underway. OUTLOOK The outlook for the emerging markets of eastern Europe remains subject to a number of uncertainties, detailed below. Despite this, these markets are for the most part large and liquid and attractive investment opportunities are rarely absent. The sub-fund s portfolio manager remains confident that a continuing focus on stock selection will most likely generate a positive return over the medium term. Foremost amongst these is the oil price, which has an especially large impact on the Russian economy. After the sharp fall seen over the past 12 months, the oil price has shown some stability more recently. The ongoing conflict in Ukraine, which has moved no nearer to a resolution over recent months, is a further important factor determining economic activity in Russia given the sanctions imposed by the EU and US as a result of Russia s perceived involvement. The impact on Ukraine itself should also not be overlooked. Although Greece appeared to secure a new round of financing in July, the possibility that it will be forced out of the European single currency remains given the potential for the bailout agreement to be derailed. The stability of the Greek government itself is an important factor here, with the current Syriza administration not certain to remain in power. There is political uncertainty in Turkey as well. The June 2015 elections produced no clear winner and although a coalition will most likely be formed, fresh elections remain a possibility. Turkish financial markets effectively ignored a robust economic performance to focus on political developments over the past 12 months and this sentiment may well persist until a stable government is formed. In Poland, the increasing anticipation of a victory by the Law and Justice Party (PiS) in the October 2015 parliamentary elections puts some pressure on the banks as the party favours increased economic interventionism with a banking levy high up on its agenda. This is likely to garner increasing column inches over the coming months but is unlikely to cause a dramatic change in the investment case. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 134

European Growth Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Australia 106,511 South32 Limited 179,552 145,970 0.15 179,552 145,970 0.15 Austria 5,624 Andritz AG 268,959 316,385 0.32 67,269 Wienerberger AG 1,180,574 1,071,490 1.10 1,449,533 1,387,875 1.42 Belgium 3,116 Galapagos NV 50,754 159,646 0.16 50,754 159,646 0.16 Finland 640,479 Talvivaara Mining Company plc a 498,359 101 0.00 498,359 101 0.00 France 39,789 Compagnie de Saint-Gobain 1,795,319 1,814,006 1.85 9,869 Danone 675,241 646,694 0.66 20,191 Safran SA 925,327 1,389,315 1.42 12,657 Sanofi-Aventis SA 1,267,241 1,267,746 1.30 18,617 Schneider Electric SA 1,340,390 1,307,902 1.34 6,003,518 6,425,663 6.57 Germany 38,181 Adidas AG 3,296,833 2,948,259 3.02 6,594 Carl Zeiss Meditec AG 143,343 170,119 0.17 6,372 Continental AG 887,217 1,511,560 1.55 4,746 Elringklinger AG 150,309 128,926 0.13 16,044 Fresenius Medical Care AG & Company KGaA 1,061,760 1,335,538 1.37 20,518 Henkel AG & Company KGaA 1,321,407 1,954,945 2.00 144,973 Infineon Technologies AG 1,385,736 1,818,947 1.86 38,529 Rheinmetall AG 2,197,238 1,982,414 2.03 13,310 RWE AG 572,486 288,539 0.30 9,780 Sap AG 724,385 686,199 0.70 11,740,714 12,825,446 13.13 Ireland 82,020 Greencore Group plc 334,795 402,593 0.41 334,795 402,593 0.41 Italy 565,009 Intesa Sanpaolo SpA 1,674,950 2,077,684 2.13 2,128,888 Telecom Italia SpA 2,584,433 2,719,941 2.78 290,961 Unicredit SpA 2,041,265 1,982,515 2.03 6,300,648 6,780,140 6.94 Jersey Channel Islands 56,110 Wpp plc 711,865 1,267,474 1.30 711,865 1,267,474 1.30 135 MANULIFE GLOBAL FUND

1,034,728 1,301,074 European Growth Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Netherlands 25,746 Akzo Nobel NV 1,737,296 1,901,278 1.95 49,152 Koninklijke Ahold NV 911,208 934,269 0.96 800,695 Royal KPN NV 2,854,714 3,096,781 3.17 30,989 Unilever NV 1,034,728 1,301,074 1.33 Norway Portugal Spain Sweden 6,537,946 7,233,402 7.41 72,568 Statoilhydro ASA 1,276,238 1,300,298 1.33 1,276,238 1,300,298 1.33 44,734 Galp Energia SGPS SA B 770,391 527,207 0.54 770,391 527,207 0.54 137,143 Banco Santander Central Hispano SA 948,132 972,379 0.99 176,872 Telefonica SA 2,703,845 2,549,925 2.61 3,651,977 3,522,304 3.60 102,681 Ericsson (LM) 1,158,167 1,072,733 1.10 94,202 Svenska Cellulosa AB 1,853,370 2,409,256 2.47 3,011,537 3,481,989 3.57 Switzerland 45,749 ABB Limited Reg 961,560 969,688 1.00 34,701 Credit Suisse Group AG Reg 992,922 964,269 0.99 28,818 Novartis AG Reg 1,975,092 2,844,920 2.90 9,872 Roche Holding AG 1,810,015 2,802,674 2.87 9,863 Sunrise Companymunications Group AG 836,004 824,126 0.84 1,148 Syngenta AG Reg 348,585 471,842 0.48 6,924,178 8,877,519 9.08 United Kingdom 125,654 Admiral Group plc 2,437,404 2,763,192 2.82 60,710 Anglo American plc 1,403,472 890,060 0.91 105,698 Arm Holdings plc 1,266,724 1,748,258 1.79 13,107 Astrazeneca plc 928,694 836,918 0.86 24,494 Atkins WS plc P.P. 144A 547,799 587,251 0.60 525,938 Barclays Bank plc 2,059,693 2,171,042 2.22 46,984 Berendsen plc 757,215 752,698 0.77 59,041 Bg Group plc 1,021,703 991,891 1.01 120,592 Bhp Billiton plc 2,761,936 2,416,324 2.47 309,420 Cobham plc 1,423,510 1,292,622 1.32 65,230 DS Smith plc 294,360 396,731 0.41 360,879 GKN plc 1,925,521 1,909,506 1.95 186,131 Glaxosmithkline plc 4,883,188 3,911,326 3.99 317,983 HSBC Holdings plc 3,150,399 2,872,175 2.93 388,332 Indivior plc 900,960 1,402,674 1.44 280,034 Kingfisher plc 1,462,224 1,549,667 1.59 426,018 Lloyds TSB Bank plc 405,749 574,784 0.59 62,240 Prudential plc 770,306 1,511,832 1.55 69,233 Rio Tinto plc 3,199,714 2,881,346 2.95 99,022 Royal Bank of Scotland Group plc 511,276 554,057 0.57 84,442 Royal Dutch Shell plc 3,088,653 2,426,900 2.49 418,706 Rsa Insurance Group plc 3,023,491 2,634,969 2.70 8,396 Sabmiller plc 388,794 436,584 0.45 72,216 Smith & Nephew plc 1,131,823 1,229,727 1.26 MANULIFE GLOBAL FUND 136

European Growth Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United Kingdom (continued) 135,521 Standard Chartered Bank plc 2,773,139 2,191,367 2.23 398,088 Tesco plc 1,561,938 1,333,190 1.36 71,492 Tullow Oil plc 923,309 383,576 0.39 45,002,994 42,650,667 43.62 Equities Total 94,444,999 96,988,294 99.23 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 94,444,999 96,988,294 99.23 Portfolio of Investments 94,444,999 96,988,294 99.23 Other Net Assets 750,164 0.77 Net Assets 97,738,458 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. 137 MANULIFE GLOBAL FUND

European Growth Fund Investment Objective: The objective of this sub-fund is to achieve capital growth from a diversified portfolio of equities in mainly larger companies quoted on stock markets in Europe (including in the United Kingdom), or companies that have substantial business interests in Europe. The main emphasis of the investment strategy of the sub-fund is on the assessment and selection of individual stocks within the European markets. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* European Growth Fund Class A -6.24% European Growth Fund Class AA -6.49% European Growth Fund Class I -5.85% MSCI Europe Index -7.17% PORTFOLIO REVIEW The Share Class A returned -6.24% for the period, compared to the MSCI Europe Index s return of -7.17%. Over the period, the Sub-fund s holdings in the health care, consumer staples and telecommunications sectors contributed to Sub-fund performance. Individual contributors to performance included Indivior PLC, a leader in treating opioid addiction. The company has a strong suite of patents and a strong pipeline of products. Agrochemicals specialist Syngenta AG also contributed to performance as it became a takeover target. The energy sector detracted from Sub-fund performance over the period, as the oil price plummeted. Individual detractors from Sub-fund performance included Galp Energia, SGPS, SA and Tullow Oil PLC, as both companies struggled with declining oil prices. Over the period, our sub-fund s portfolio manager initiated positions in WS Atkins plc and Berendsen PLC. They believe both companies are cash-generative and stable businesses and also initiated a position in Sunrise Communications AG, Switzerland s second-largest mobile company. They sold the Sub-fund s position in CNH Industrial N.V. over the period amid concerns of profit sustainability. MARKET REVIEW Over the period, strong local market gains were offset by a sharply devalued euro. The recovery s continued fragility, coupled with uncertainty about Greek debt negotiations, restrained equity performance. In January 2015, the European Central Bank announced it would buy eurozone government bonds. Markets cheered Europe s belated adoption of quantitative easing, as it was viewed as a decisive step towards combatting deflation in the eurozone, stimulating the export sector and helping job creation. Markets failed to consolidate gains at the start of 2015 on concerns over Greece s debt negotiations. In late June, Greek Prime Minister Alexis Tsipras called a referendum on the latest proposal from organizations representing the country s creditors. There was a subsequent deposit run on Greek banks, leading to capital controls. Government bond yields did not rise significantly, suggesting markets were confident that a compromise would be reached or, if not, that the European authorities stand ready to do whatever is necessary to ensure financial stability of the euro area. Defensive sectors like health care and consumer staples, which have global income streams, held up better than cyclical sectors. The telecommunications sector performed best over the period. After years of intense competition, this sector entered a phase of consolidation that should lead to expanding profit margins and revenue growth. The energy sector was the worst performing as an increase in U.S. shale production contributed to an over-supplied market and a steep fall in the oil price. Energy equipment suppliers cut earnings forecasts as a result of deep cutbacks in new exploration projects and the oil majors revenue came under pressure with the decline in the spot price. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 138

European Growth Fund OUTLOOK Our sub-fund s portfolio manager believe the outlook for a European economic recovery is improving and that our holdings are relatively well insulated from developments in Greece, regardless of the outcome, although short-term price volatility in Europe-listed securities cannot be ruled out. The Sub-fund invests in many strong, larger companies with defensive, globally diversified income streams. The European banks held in the Sub-fund have minimized their exposure to Greek assets. They also believe European stocks are trading at attractive valuations and could perform well over the next two years. In our view, Europe remains home to a large number of innovative and technologically advanced organizations across multiple sectors. 139 MANULIFE GLOBAL FUND

Global Contrarian Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Australia 52,715 Amcor Limited 507,887 557,843 2.52 507,887 557,843 2.52 Cayman Islands 11,807 Ck Hutchison Holdings Limited 157,240 173,476 0.78 157,240 173,476 0.78 France 3,072 Safran SA 204,391 211,380 0.95 3,310 Sanofi-Aventis SA 345,384 331,535 1.50 6,680 Total SA 401,297 328,482 1.48 951,072 871,397 3.93 Germany 4,294 Deutsche Boerse AG 330,078 359,077 1.62 330,078 359,077 1.62 Ireland 3,319 Accenture plc 270,326 323,005 1.46 7,666 Eaton Corp. 547,978 517,148 2.33 818,304 840,153 3.79 Japan 14,500 Bridgestone Corp. 545,713 536,543 2.42 6,600 Honda Motor Company Limited 253,785 213,689 0.96 10,800 Japan Tobacco Inc. 355,294 384,892 1.74 9,800 Nippon Telegraph & Telephone Corp. 292,627 355,100 1.60 1,447,419 1,490,224 6.72 Jersey Channel Islands 12,373 Experian plc 205,286 227,455 1.03 205,286 227,455 1.03 Luxembourg 61,854 Samsonite International SA 178,867 213,835 0.96 13,390 SES SA 454,863 452,727 2.04 633,730 666,562 3.00 Netherlands 3,180 Akzo Nobel NV 246,827 234,835 1.06 5,671 Heineken NV 392,367 433,204 1.95 10,063 Koninklijke Ahold NV 175,934 191,275 0.86 18,644 Koninklijke Philips Electronics NV 552,090 479,536 2.16 1,367,218 1,338,850 6.03 Norway 11,556 Statoilhydro ASA 333,934 207,064 0.93 333,934 207,064 0.93 Singapore 160,252 Comfortdelgro Corp. Limited 255,722 372,679 1.68 255,722 372,679 1.68 MANULIFE GLOBAL FUND 140

Global Contrarian Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Switzerland 7,402 Nestle SA Reg 572,510 542,474 2.45 6,814 Novartis AG Reg 565,892 672,680 3.04 2,300 Roche Holding AG 629,841 652,973 2.95 1,768,243 1,868,127 8.44 United Kingdom 3,418 Aon Corp. 282,913 344,090 1.55 13,051 British American Tobacco plc 702,039 705,468 3.19 43,255 HSBC Holdings plc 471,268 390,700 1.76 19,373 Pearson plc 390,393 372,311 1.68 1,846,613 1,812,569 8.18 United States 3,591 Apple Computer Company 319,766 448,911 2.03 14,739 Arthur J Gallagher & Company 674,750 701,871 3.17 7,955 Baxter International Inc. 554,705 564,248 2.55 3,358 Chevron Corp. 416,647 325,222 1.47 3,553 Honeywell International Inc. 321,223 363,614 1.64 29,395 Huntington Bancshares Inc. 279,274 329,518 1.49 9,206 Johnson & Johnson 885,424 903,569 4.07 5,133 JPMorgan Chase & Company 291,094 346,529 1.56 10,649 Kraft Foods Inc. A 363,492 436,609 1.97 6,257 Macy s Inc. 343,372 424,475 1.91 3,422 McDonald s Corp. 338,222 327,383 1.48 9,480 Microsoft Corp. 363,359 418,447 1.89 8,245 Philip Morris International Inc. 705,997 659,847 2.98 6,819 Pnc Financial Services Group Inc. 640,236 654,351 2.96 9,069 Procter & Gamble Company 748,692 711,644 3.21 7,517 Qualcomm Inc. 546,094 472,744 2.13 2,278 Raytheon Company 215,416 218,802 0.99 5,593 United Technologies Corp. 615,038 625,801 2.82 12,045 Verizon Communications Inc. 594,842 564,188 2.56 9,838 Viacom Inc. B 806,133 632,387 2.85 9,675 Wells Fargo & Company 481,363 544,606 2.46 2,856 Whirlpool Corp. 495,244 497,230 2.24 11,000,383 11,171,996 50.43 Equities Total 21,623,129 21,957,472 99.08 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 21,623,129 21,957,472 99.08 141 MANULIFE GLOBAL FUND

Global Contrarian Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Other transferable securities and money market instruments (2) Equities United States 85,237 Brazil Ethanol Inc. a 852,370 852 0.00 852,370 852 0.00 Equities Total 852,370 852 0.00 Total Other transferable securities and money market instruments (2) 852,370 852 0.00 Portfolio of Investments 22,475,499 21,958,324 99.08 Other Net Assets 203,690 0.92 Net Assets 22,162,014 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 142

Global Contrarian Fund Investment Objective: The sub-fund aims to generate long-term returns which exceed those of broad market indexes, such as the MSCI World Index and the S&P 500 Index, by investing in overlooked and misunderstood companies through investing primarily in securities of U.S. issuers, and those of issuers in countries around the world including, but not limited to, common stocks, REITs and similar liquid equity equivalents. The expression overlooked and misunderstood companies as used herein may refer generally to specific companies which may be temporarily out-of-favour with or unattractive to investors (for whatever reason) and could, therefore, present value opportunities to be exploited. These companies may also include companies going through corporate restructuring, bankruptcy, spin-outs or industry consolidation. It may also include taking advantage of opportunities which present themselves in the markets arising from short-term irrationality in prices or psychological biases of market participants as demonstrated by some of the principles of behavioural finance. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Global Contrarian Fund Class AA -2.49% Global Contrarian Fund Class HA -3.08% Global Contrarian Fund Class HC -3.38% Global Contrarian Fund Class HI -2.66% Global Contrarian Fund Class I2-2.58% Global Contrarian Fund Class S -3.23% MSCI All Country World Index +1.23% Portfolio Review The Share Class AA returned -2.49% for the period, compared to the MSCI All Country World Index return of 1.23%. Stock selection within the materials and financials sectors contributed to performance. Individual contributors included Amcor Limited, Macy s, Inc. and Huntington Bancshares Incorporated. Macy s share price rose on speculation about a strategy change for its real estate assets. Stock selection within the health care and consumer discretionary sectors detracted from performance. Individual detractors included Viacom Inc., Mattel, Inc. and Statoil ASA. During the period, our sub-fund s portfolio manager added Raytheon Company, Bridgestone Corporation, Whirlpool Corporation, Koninklijke Philips N.V. ( Royal Philips ), McDonald s Corporation, The PNC Financial Services Group, Inc., Nestlé S.A. and Verizon Communications Inc. to the Sub-fund. They eliminated the Sub-fund s positions in Mattel, Inc., Eni S.p.A., Pfizer Inc., GlaxoSmithKline plc, Anheuser- Busch InBev SA/NV, Vodaphone Group Plc, Automatic Data Processing, Inc., Ryoyo Electro Corporation, Tyco International PLC, Time Warner Inc., Northern Trust Corporation and Catlin Group Limited. Catlin Group s share price had reached our estimate of fair value. Market Review Global market performance was modestly positive over the period. However, the U.S. Federal Reserve Board took a more cautious view of the U.S. economy and labor market and said it would have to see more encouraging data before raising interest rates. First-quarter 2015 gross domestic product growth was just 0.2%, largely as a result of bad weather in the U.S. Northeast and economic challenges stemming from a stronger U.S. dollar. As a result of this news, the dollar retreated somewhat. Oil prices rose in April as a report from the U.S. Energy Information Administration showed that oil supplies in the U.S. did not grow much during the month, signaling that production could be leveling off while global demand may be picking up. For most of the period, European markets benefited from a healthier economic outlook. The Japanese market continued to rise as consumer sentiment showed optimism and pay raises were approved by Japan s largest companies, suggesting the nation may be on its way toward stimulating consumer spending and ending deflation. Global equity markets declined in the final two trading days of the quarter over concerns about Greece exiting the eurozone. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 143 MANULIFE GLOBAL FUND

Global Contrarian Fund Outlook Given that interest rates are at historic lows and bonds are overpriced (absent a deflationary environment), our sub-fund s portfolio manager continue to favor equities. That said, longer-term growth rate expectations have been falling, and markets could be entering a structurally low-growth environment. Although the U.S. continues to outperform, they believe U.S. equities appear expensive, especially against a backdrop of high margins and the equity market gains will now be driven by growth, rather than relying on multiple expansion or share buybacks to drive increases in earnings per share. In our view, European equities appear inexpensive, and they believe opportunities exist to invest in European companies with international operations and favorable equity valuations, especially if the euro weakens. The Bank of Japan is in the midst of implementing aggressive reflationary measures. As the country benefits from a weakening yen, we believe it should also see a trend of cash being returned to shareholders. They remain selective in the Sub-fund s Japanese exposure, focusing on leading companies with strong management teams and cash flows. The Sub-fund does not have any direct exposure to emerging markets, as we have concerns about their commodity exposure, overly tight monetary policies and potentially weakening currencies. In all regions, they continue to identify individual, high-quality businesses that t believe have strong management teams and franchises and the ability to protect cash flow in more challenging environments. MANULIFE GLOBAL FUND 144

Global Property Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Australia 27,285 Dexus Property Group 180,512 153,628 0.92 60,000 Federation Centres Limited 113,087 135,132 0.81 116,578 Scentre Group 308,367 337,187 2.01 40,486 Westfield Group 212,092 284,789 1.70 814,058 910,736 5.44 Canada 6,975 H&r Real Estate Investment Trust 67,894 124,014 0.74 67,894 124,014 0.74 Cayman Islands 9,000 Cheung Kong Property Holding 74,123 74,650 0.44 36,500 Cheung Kong Property Holdings Limited 194,026 302,747 1.80 268,149 377,397 2.24 China 34,000 Dalian Wanda Commercial Properties 210,490 273,459 1.63 Company Limited H 210,490 273,459 1.63 France 5,241 Klepierre 206,029 232,896 1.39 1,350 Unibail-Rodamco SE 228,653 346,171 2.06 434,682 579,067 3.45 Germany 6,896 Deutsche Wohnen AG 87,534 160,729 0.96 9,000 Tlg Immobilien AG 122,708 147,790 0.88 210,242 308,519 1.84 Hong Kong 60,000 Hang Lung Properties Limited 215,950 178,401 1.06 33,689 Henderson Land Development Company 145,525 230,542 1.37 Limited ADR 29,000 Hongkong Land Holdings Limited 125,593 237,800 1.42 104,000 Sino Land Company Limited 143,408 173,866 1.04 30,000 Sun Hung Kai Properties Limited 372,459 486,057 2.90 17,800 Wharf Holdings Limited 97,233 118,480 0.71 1,100,168 1,425,146 8.50 Ireland 250,000 Irish Residential Properties Reit plc 279,663 309,331 1.84 279,663 309,331 1.84 Japan 2,300 Daito Trust Construction Company Limited 92,276 238,356 1.42 25,000 Mitsubishi Estate Company Limited 466,154 538,698 3.22 17,500 Mitsui Fudosan Company Limited 318,762 490,152 2.92 34 Nippon Building Fund Inc. 194,053 148,944 0.89 11,000 Sumitomo Realty & Development Company 218,376 385,996 2.30 Limited 1,289,621 1,802,146 10.75 145 MANULIFE GLOBAL FUND

Global Property Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Norway 24,000 Entra ASA 237,820 222,514 1.33 90,000 Norwegian Property ASA 136,238 111,372 0.66 374,058 333,886 1.99 Singapore 145,000 Capitacommercial Trust 159,077 168,066 1.00 78,000 Capitaland Limited 222,569 202,838 1.21 381,646 370,904 2.21 United Kingdom 28,521 British Land Company plc 324,056 358,972 2.14 30,000 Capital & Counties Propertie 53,666 205,570 1.22 24,500 Hammerson plc 262,306 237,544 1.42 640,028 802,086 4.78 United States 2,050 Alexandria Real Estate Equities Inc. 124,232 179,642 1.07 1,700 American Tower Corp. 70,503 159,052 0.95 2,821 Boston Properties Inc. 171,393 342,159 2.04 7,000 Brixmor Property Group Inc. 140,000 162,050 0.97 3,618 Coresite Realty Corp. 61,507 162,738 0.97 4,700 Corporate Office Properties Trust 116,325 111,390 0.66 6,583 Cyrusone Inc. 126,581 192,224 1.15 11,722 Diamondrock Hospitality Company 115,239 149,924 0.89 7,389 Digital Realty Trust Inc. 331,251 490,998 2.92 5,550 Douglas Emmett Inc. 75,482 149,295 0.89 1,635 Essex Property Trust Inc. 212,142 347,225 2.07 1,650 Federal Realty Investment Trust 137,840 212,438 1.27 19,730 Felcor Lodging Trust Inc. 88,291 192,565 1.15 11,921 General Growth Properties Inc. 157,416 307,204 1.83 4,500 HCP Inc. 201,375 165,150 0.98 6,000 Hersha Hospitality Trust 98,550 152,820 0.91 10,000 Hilton Worldwide Holdings Inc. 200,000 275,000 1.64 2,900 Home Properties Inc. 170,912 212,512 1.27 2,700 Kilroy Realty Corp. 135,000 181,818 1.08 9,252 Kimco Realty Corp. 114,778 209,650 1.25 7,200 La Quinta Holdings Inc. 122,400 163,080 0.97 3,900 Lasalle Hotel Properties 98,083 136,890 0.82 3,701 Macerich Company 107,155 277,908 1.66 2,100 Macquarie Infrastructure Company LLC 7,791 173,355 1.03 11,687 Monogram Residential Trust Inc. 108,251 106,118 0.63 22,500 Paramount Group Inc. 393,749 385,425 2.29 2,500 Post Properties Inc. 112,134 136,000 0.81 9,008 Prologis Inc. 293,204 336,269 2.00 5,700 QTS Realty Trust Inc. A 119,700 205,542 1.22 17,800 Rexford Industrial Realty 249,200 259,346 1.55 4,855 Simon Property Group Inc. 306,941 839,574 4.99 2,222 Sl Green Realty Corp. 68,939 245,242 1.46 11,316 Spirit Realty Capital Inc. 89,114 110,670 0.66 2,100 Starwood Hotels & Resorts Worldwide Inc. 158,833 170,037 1.01 8,000 Udr Inc. 200,053 258,720 1.54 4,118 Urban Edge Properties 73,593 85,860 0.51 3,000 Ventas Inc. 151,449 187,560 1.12 3,237 Vornado Realty Trust 190,251 308,357 1.84 2,013 Wp Carey Inc. 99,094 118,968 0.71 5,798,751 8,860,775 52.78 MANULIFE GLOBAL FUND 146

Global Property Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Equities Total 11,869,450 16,477,466 98.19 Warrants Equity Hong Kong 2,917 Sun Hung Kai Properties Limited Wts 22/Apr/2016 0 10,367 0.06 0 10,367 0.06 Warrants Equity Total 0 10,367 0.06 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 11,869,450 16,487,833 98.25 Other transferable securities and money market instruments (2) Equities Malta 570,000 BGP Holdings plc a 0 0 0.00 0 0 0.00 Equities Total 0 0 0.00 Total Other transferable securities and money 0 0 0.00 market instruments (2) Portfolio of Investments 11,869,450 16,487,833 98.25 Other Net Assets 294,254 1.75 Net Assets 16,782,087 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements. 147 MANULIFE GLOBAL FUND

Global Property Fund Investment Objective: The sub-fund is an equity fund which is primarily designed to provide medium to long term capital growth with the secondary goal of generating income. The sub-fund is suitable for those who hold a long term investment view and who are prepared to accept significant fluctuations in the value of their investments in order to achieve long term returns. It is intended that the investments will be made on a diversified basis. The underlying investment portfolio will mainly consist of real estate securities, primarily REITs of U.S. and non-u.s. companies. The sub-fund may invest in companies which derive a significant portion of their earnings from the development or management of real estate situated in the U.S. and non-u.s. countries. The investment instruments of the portfolio include, but not limited to, North American REITs (in the U.S. and Canada), non-u.s. REITs, real estate company equities, bonds (graded as low as BB), short-term securities, equity securities of non-real estate securities and deposits. The underlying REITs may not necessarily be authorized by the SFC in Hong Kong and the dividend policy/payout policy of the sub-fund is not representative of the dividend policy/payout policy of the underlying REITs. The Sub-Fund may also invest in bonds of any maturity rated at BB grades and unrated bond equivalents. If the Investment Manager so determines, it may also temporarily invest in investment grade shortterm securities and/or cash, and non-u.s. securities including sponsored and unsponsored American Depository Receipts. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Global Property Fund Class AA +2.41% S&P Developed Property Total Return Index +0.87% Portfolio Review The Sub-fund returned 2.41% for the period, compared to the S&P Developed Property Total Return Index return of 0.87%. The Sub-fund s overweight exposure to and stock selection in the U.S. and Hong Kong contributed to performance during the period. Underweight exposure to Europe, Japan and Canada also contributed. An overweight position in data center and lodging real estate investment trusts ( REITs ), and underweight position in health care REITs, drove strong stock selection in the U.S. Within the Sub-fund s Hong Kong holdings, property developers Sun Hung Kai Properties Ltd. and Cheung Kong (Holdings) Limited contributed to performance. Cheung Kong Holdings performance was driven by the company s restructuring efforts and its merger with Hutchinson Whampoa Ltd., which took both companies property businesses and merged them into a single company while separating the non-property business into another. Hong Kong developers also benefited from continued strength in the residential property market as housing transactions remained relatively strong. Commercial real estate, especially the office market, continues to exhibit strength, and leasing demand in the Central submarket continues to benefit the sector. U.S. data center REITs CoreSite Realty Corporation and QTS Realty Trusts, Inc. contributed to performance as the sector benefited from continued demand for data center space and both companies reported strong financial results throughout the year. Excess supply has been declining because of strong demand, and pricing has stabilized. Stock selection in Japan detracted from the Sub-fund s performance as the Sub-fund had an underweight position in Japanese REITs. The Sub-fund s allocation to Brazil and overweight exposure to Norway also detracted from performance. Japanese property companies Mitsui Fudosan Co., Ltd. and Sumitomo Realty & Development Co., Ltd. detracted from performance. The sector was affected by the lack of economic growth and concern over whether or not the government s measures to improve economic growth would succeed. Although growth improved somewhat in the latter half of the fiscal year, concerns still exist, and at this point the potential for further easing by the Bank of Japan appears to be less likely. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 148

Global Property Fund European property companies Unibail-Rodamco SE and Klépierre SA also detracted from performance, as a result of continued sluggish economic growth, geopolitical concerns earlier in the year and the uncertainty of Greece s fiscal position. During the year, our sub-fund s portfolio manager eliminated the Sub-fund s exposure to Brazil, increased its exposure in Germany, Ireland and Norway, and reduced its exposure to the U.S. given the strong performance earlier in the year. We added positions in TLG Immobilien AG, Dalian Wanda Commercial Properties Co., Ltd., Irish Residential Properties REIT plc, Entra ASA, Norwegian Property ASA and Paramount Group Inc. The Sub-fund maintains underweight exposure to Europe and Japan and overweight exposure to the U.S. and Hong Kong. The underweight exposure to European property companies is driven by an overall weaker economic growth outlook versus other regions. Within Europe, we favor the Nordic and German real estate markets. The Sub-fund s overweight exposure to the U.S. is the result of stronger property fundamentals and our positive outlook on relative economic growth. The overweight exposure to Hong Kong is based on relative valuations and our belief that the risk of further austerity measures to the property sector is low. Market Review Over the past year, especially in the U.S., the main factor weighing on market performance and on the real estate sector has been interest rates. Economic data has been volatile at times, with weakerthan-expected retail sales since year-end, which also resulted in weaker-than-expected first-quarter gross domestic product growth. However, economic data has been sufficiently strong that the U.S. is expected to begin raising interest rates sometime over the next few months. Geopolitical uncertainty in Eastern Europe and the Middle East, as well as recent events in Greece has also added to volatility over the period. While the U.S. is expected to begin tightening its monetary policy, other regions, such as China, Japan and Europe, have been easing their monetary policy by reducing interest rates or adding quantitative easing programs to stimulate growth. This has caused sovereign yields in those regions to fall, benefiting the overall markets as well as the real estate sector. However, investor sentiment has shifted over the past couple of months as quantitative easing is coming to an end in most regions and rates have begun to move higher, which has weighed on the sector. Outlook Our sub-fund s portfolio manager believe the outlook for the real estate sector remains positive despite recent relative performance. Interest rates remain low versus historical levels. While expectations are that the U.S. will begin to raise rates at some point this year, they believe that it will be toward the later part of the year and that the pace of further interest rate hikes will be gradual. Given this low interest rate environment, they expect capital from institutional investors to be allocated to the real estate sector, which should support real estate values. Real estate fundamentals continue to improve in most markets as supply remains relatively low. Expectations for improving economic conditions will continue to support the sector given the supply picture, which should lead to higher occupancy and rents. Increased demand for properties and higher rents should alleviate the impact of higher interest rates. Property values will also be driven by the lack of supply over the past few years, as the low growth and uncertain environment has restrained new supply being developed. At the same time, investor demand for quality assets remains strong, which should continue to support property values. Our sub-fund s portfolio manager believe the sector continues to offer a very attractive dividend yield versus other yield securities. They believe interest rates will continue to be relatively low and supply will be low. Coupled with our positive outlook on economic growth, this leads us to believe that the real estate sector is an attractive alternative investment. They continue to find opportunities within the market that trade at significant discounts to their net asset values. They believe the current share prices and yields that these securities offer are still at attractive levels, and maintain a positive bias on the sector. 149 MANULIFE GLOBAL FUND

Global Resources Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Australia 20,016 BHP Billiton Limited ADR 1,113,994 825,460 2.45 212,243 Western Areas NL 818,688 528,761 1.57 1,932,682 1,354,221 4.02 Canada 34,736 Agnico-Eagle Mines Limited 1,197,920 985,753 2.92 7,476 Agrium Inc. 725,756 768,370 2.28 71,004 Barrick Gold Corp. 1,321,353 757,117 2.25 24,720 Cameco Corp. 414,629 347,875 1.03 24,460 Canadian Natural Resources Limited 820,694 662,075 1.96 69,779 Eldorado Gold Corp. 557,302 282,247 0.84 14,000 First Quantum Minerals Limited 187,826 185,871 0.55 33,995 Franco-Nevada Corp. 1,632,697 1,616,985 4.79 85,375 Goldcorp Inc. 2,757,474 1,376,517 4.08 93,947 Lundin Mining Corp. 416,642 389,069 1.15 7,179 Methanex Corp. 411,629 399,583 1.19 10,078 Paramount Resources Limited 404,736 230,970 0.69 819,500 Romarco Minerals Inc. 428,915 289,960 0.86 45,486 Silver Wheaton Corp. 808,938 784,954 2.33 28,752 Suncor Energy Inc. 977,017 790,503 2.34 20,322 Teck Cominco Limited 315,835 205,581 0.61 7,458 Vermilion Energy Trust 409,669 322,837 0.96 14,611 West Fraser Timber Company Limited 772,046 791,206 2.35 201,273 Yamana Gold Inc. 2,191,120 592,384 1.76 16,752,198 11,779,857 34.94 Curacao 8,568 Schlumberger Limited 757,266 736,676 2.18 757,266 736,676 2.18 France 6,261 Lafarge SA 413,184 418,752 1.24 413,184 418,752 1.24 Germany 8,861 BASF SE 782,266 785,831 2.33 782,266 785,831 2.33 Jersey Channel Islands 13,094 Randgold Resources Limited ADR 792,285 886,988 2.63 792,285 886,988 2.63 Mexico 37,746 Fresnillo plc 424,409 411,756 1.22 424,409 411,756 1.22 Netherlands 12,136 Lyondellbasell Industries NV A 1,068,733 1,253,770 3.72 1,068,733 1,253,770 3.72 MANULIFE GLOBAL FUND 150

Global Resources Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Switzerland 25,530 Weatherford International Limited 407,626 312,998 0.93 407,626 312,998 0.93 United Kingdom 17,043 Royal Dutch Shell plc ADR 1,171,814 974,007 2.89 1,171,814 974,007 2.89 United States 19,321 Alcoa Inc. 191,199 216,975 0.64 12,503 Anadarko Petroleum Corp. 1,133,495 983,737 2.91 9,918 Chevron Corp. 1,156,291 960,558 2.85 3,840 Concho Resources Inc. 408,191 434,150 1.29 18,947 Devon Energy Corp. 1,145,160 1,122,421 3.32 24,763 Dow Chemical Company 869,292 1,266,380 3.75 10,682 Eog Resources Inc. 988,798 925,702 2.75 11,986 Exxon Mobil Corp. 1,178,879 998,914 2.95 28,190 Freeport-McMoRan Copper & Gold 787,073 535,892 1.59 15,244 Halliburton Company 810,895 656,407 1.95 9,419 Hess Corp. 575,274 629,189 1.87 14,889 International Paper Company 698,129 714,374 2.12 11,887 Marathon Oil Corp. 411,916 316,907 0.94 6,801 Monsanto Company 773,838 713,765 2.12 7,828 Nucor Corp. 333,741 349,442 1.04 9,488 Occidental Petroleum Corp. 878,137 737,882 2.19 5,390 Phillips 66 341,631 433,356 1.29 11,222 Range Resources Corp. 751,062 551,225 1.63 39,830 Southern Copper Corp. 1,168,137 1,193,704 3.55 20,149 Spectra Energy Corp. 780,546 654,238 1.94 7,665 Valero Energy Corp. 374,213 477,683 1.42 15,755,897 14,872,901 44.11 Equities Total 40,258,360 33,787,757 100.21 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 40,258,360 33,787,757 100.21 Other transferable securities and money market instruments (2) Australia Equities 8,006 South32 Limited 62,776 54,281 0.16 62,776 54,281 0.16 151 MANULIFE GLOBAL FUND Equities Total 62,776 54,281 0.16 Total Other transferable securities and money market instruments (2) 62,776 54,281 0.16 Portfolio of Investments 40,321,136 33,842,038 100.37 Other Net Liabilities (126,232) (0.37) Net Assets 33,715,806 100.00 (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements.

Global Resources Fund Investment Objective: The sub-fund has, as its primary objective, the provision of long term capital growth for those who hold a long term investment view and who are prepared to accept significant fluctuations in the value of their investments in order to achieve long term returns. It is intended that the investments will be made on a diversified basis. The underlying investment portfolio will mainly consist of equity-related investments and equities of companies involved in global resources such as gas, oil, coffee, sugar and related industries throughout the world and which are listed on any stock exchange. The sub-fund may invest in companies which derive a significant portion of their earnings from business activities in global resources sectors. The remaining assets of the sub-fund may include bonds, deposits and other investments. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Global Resources Fund Class AA -27.91% Global Resources Customized Index** -21.34% PORTFOLIO REVIEW The Sub-fund returned -27.91% for the period, compared to the Blended Index return of -21.34%. The Sub-fund s investments in the energy sector generally moved lower during the period, but outperformed the Blended Index by a large margin. Strong stock selection in the commodity chemicals and diversified chemicals segments, coupled with lower exposure to gold and precious metals and minerals, contributed to performance. Commodity chemicals company LyondellBasell Industries N.V., diversified chemicals company Dow Chemical Company and fertilizers and agricultural chemicals company Agrium Inc. contributed to performance. Having no exposure to the oil and gas drilling segment also contributed to performance, as did strong stock selection in the coal and consumable fuels and the oil and gas refining and marketing segments. The Sub-fund s materials holdings experienced declines in the diversified metals and mining and gold sub-sectors. However, the declines were less than the benchmark and were mitigated by gains in other areas. Integrated oil and gas companies, such as Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell plc and Suncor Energy Inc., had the most significant impact on performance. Similarly, the exploration and production sub-sector pushed the Sub-fund s energy holdings lower as stocks such as Canadian Natural Resources Limited, Anadarko Petroleum Corporation, Hess Corporation and Paramount Resources Ltd. faced a challenging environment. Halliburton Company, Schlumberger N.V. and Weatherford International plc, from the oil and gas equipment and services segment, also declined during the period. Freeport-McMoRan Inc., BHP Billiton Limited and Teck Resources Limited, from the diversified metals and mining sub-sector, along with gold investments such as Yamana Gold Inc., Romarco Minerals Inc. and Goldcorp Inc., were the most significant individual detractors from performance. MARKET REVIEW The Blended Index, consisting of one-third each of the FTSE Gold Mines Total Return Index (US$), MSCI World Energy Index (US$) and MSCI World Materials Index (US$), declined over the period. The decline in the energy sector was led by larger-capitalization stocks from the integrated oil and gas, exploration and production, and oil and gas equipment and services sub-sectors. The materials sector experienced a decline led primarily by the gold, precious metals and minerals, and diversified mining sub-sectors during the period. * The performance return of the fund is calculated in US dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in US dollar terms and on total return basis. ** Customized by Amundi S.A., the new provider of the benchmark following a company restructuring detailed in Shareholder Notice dated 17 December 2010. The benchmark comprises of 1/3 MSCI World Energy, 1/3 MSCI World Materials and 1/3 FTSE Gold Mines. MANULIFE GLOBAL FUND 152

Global Resources Fund OUTLOOK Our sub-fund s portfolio manager believe the commodities sector has taken the brunt of investors perception and expectation of slow global growth, and current share prices in the sector reflect this pessimistic outlook. As a result, they believe the global natural resources environment is likely to remain lackluster over the near term. However, they believe significant quantitative easing around the world provides a positive backdrop for the intermediate term. In our view, with uncertainty often comes opportunity. In the energy sector, our sub-fund s portfolio manager do not believe the current price of oil is sustainable and expect higher prices as global supply adjusts and investments in future production initiatives are curtailed. In the short term, they expect to find opportunities to invest in quality companies at attractive valuations. Over the longer term, they believe that demand for commodities will increase as emerging market economies, particularly China, continue to develop. Furthermore, they believe longer-term supply constraints should support improved commodity pricing over time, which would ultimately benefit investors. 153 MANULIFE GLOBAL FUND

Greater China Opportunities Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Bermuda 28,000 Cheung Kong Infrastructure Holdings Limited 184,775 217,436 1.16 210,000 China Animal Healthcare Limited a 136,465 118,109 0.63 1,067,000 Gome Electrical Appliances Holdings Limited 281,488 235,362 1.26 602,728 570,907 3.05 Cayman Islands 598 Baidu.com ADR 131,133 120,892 0.65 96,000 Car Inc. 133,386 204,330 1.09 33,468 Cheung Kong Property Holding 162,987 277,598 1.48 129,555 China Resources Land Limited 310,095 420,309 2.25 31,468 Ck Hutchison Holdings Limited 365,429 462,348 2.47 138,000 Cowell E Holdings Inc. 75,624 127,280 0.68 63,000 Intelliepi Inc. 203,903 176,618 0.94 5,860 Jd.Com Inc. ADR 155,630 196,896 1.05 80,000 Kingsoft Corp. Limited 262,118 269,860 1.44 140,000 Sino Biopharmaceutical 164,704 162,535 0.87 324,000 Sinosoft Technology Group 168,818 237,394 1.27 159,000 Spg Land Holdings Limited 162,590 123,267 0.66 56,100 Tencent Holdings Limited 744,486 1,119,513 5.98 114,000 Vinda International Holdings 187,453 238,818 1.28 265,000 Wisdom Holdings Group 80,946 208,180 1.11 3,309,302 4,345,838 23.22 China 877,000 Bank of China Limited H 491,156 570,173 3.05 134,000 Beijing Capital International Airport Company 158,517 154,532 0.83 Limited H 28,500 Byd Company Limited 137,006 171,136 0.91 530,000 CGN Power Company Limited H 250,161 277,574 1.49 152,000 China Communications Construction 132,182 227,445 1.21 Company Limited H 754,000 China Construction Bank Corp. 592,090 688,621 3.68 188,000 China Eastern Airlines Corp. Limited 90,072 157,391 0.84 78,000 China Life Insurance Company Limited H 313,488 339,582 1.82 75,000 China Merchants Bank Company Limited H 230,295 218,648 1.17 94,000 China Oilfield Services Limited 198,443 149,873 0.80 244,000 China Petroleum & Chemical Corp. 220,114 210,568 1.13 26,000 Dalian Wanda Commercial Properties 193,891 209,115 1.12 Company Limited H 124,000 Huadian Power International Company 107,225 137,401 0.73 24,200 Huatai Securities Company Limited 77,419 68,365 0.37 696,000 Industrial & Commercial Bank of China H 484,900 553,052 2.96 13,300 Legend Holdings Corp. 73,744 74,373 0.40 216,000 Petrochina Company Limited 272,957 241,016 1.28 40,820 Picc Property & Casualty Company Limited 61,414 92,991 0.50 34,000 Ping An Insurance Group Company of China Limited 341,220 459,200 2.45 MANULIFE GLOBAL FUND 154

Greater China Opportunities Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets China (continued) 60,900 Shanghai Pharmaceuticals Holding Company 215,367 169,687 0.91 Limited 19,500 Zhuzhou Csr Times Electric Company Limited 153,581 146,146 0.78 H 4,795,242 5,316,889 28.43 Hong Kong 108,000 Aia Group Limited 566,281 707,027 3.77 76,500 Boc Hong Kong Holdings Limited 239,080 318,743 1.70 103,000 China Everbright International Limited 57,054 184,684 0.98 58,000 China Merchants Holdings International 221,669 248,769 1.33 Company Limited 64,500 China Mobile Limited 788,287 825,784 4.42 50,800 China Taiping Insurance Holdings Company 201,583 182,501 0.98 Limited 182,000 China Unicom Hong Kong Limited 307,633 286,423 1.53 87,000 Cnooc Limited 163,052 123,449 0.66 31,000 Galaxy Entertainment Group Limited 249,668 123,565 0.66 146,000 Guangdong Investment Limited 178,278 204,531 1.09 11,000 Hong Kong Exchanges & Clearing Limited 270,821 388,227 2.07 137,000 New World Development Limited 164,817 179,199 0.96 18,000 Sun Hung Kai Properties Limited 253,296 291,634 1.56 3,661,519 4,064,536 21.71 Singapore 126,000 Sound Global Limited a 137,314 102,397 0.55 137,314 102,397 0.55 Taiwan 108,000 Advanced Semiconductor Engineering Inc. 150,126 146,312 0.78 21,000 Advantech Company Limited 159,670 144,289 0.77 12,000 Catcher Technology Company Limited 114,253 150,123 0.80 169,000 China Life Insurance Company Limited 171,553 173,082 0.93 244,026 Chinatrust Financial Holding Company Limited 154,068 192,186 1.03 29,000 Delta Electronics Inc. 192,337 148,503 0.79 183,000 Far Eastern New Century Corp. 194,320 193,945 1.04 53,000 FLEXium Interconnect Inc. 181,368 214,716 1.16 82,000 Formosa Chemicals & Fibre Corp. 189,390 197,195 1.05 3,000 Hermes Microvision Inc. 148,534 195,432 1.05 52,520 Hon Hai Precision Industry Company Limited 133,693 165,111 0.88 54,000 Johnson Health Tech Company Limited 144,148 125,485 0.67 2,000 Largan Precision Company Limited 149,603 228,491 1.22 34,000 Lotes Company Limited 152,985 111,296 0.59 24,000 Novatek Microelectronics Corp. Limited 122,876 115,898 0.62 155 MANULIFE GLOBAL FUND

Greater China Opportunities Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Taiwan (continued) 85,000 Sunspring Metal Corp. 164,059 137,743 0.74 238,838 Taiwan Semiconductor Manufacturing 764,163 1,087,574 5.82 Company Limited 72,000 TTY Biopharm Company Limited 172,712 168,246 0.90 34,000 Tung Thih Electronic Company Limited 136,993 192,840 1.03 3,596,851 4,088,467 21.87 Equities Total 16,102,956 18,489,034 98.83 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 16,102,956 18,489,034 98.83 Portfolio of Investments 16,102,956 18,489,034 98.83 Other Net Assets 219,004 1.17 Net Assets 18,708,038 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 156

Greater China Opportunities Fund Investment Objective: The sub-fund aims to achieve long-term capital growth. The sub-fund will invest in companies in the Greater China Region including, but not exclusively in, listed equities of companies in Hong Kong, Taiwan, Shanghai and Shenzhen markets or which derive, or which are expected to derive, a significant proportion of their revenue from goods produced or sold, or investments made or services performed, in Mainland China. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Greater China Opportunities Fund Class I +13.49% Greater China Opportunities Fund Class AA +12.55% MSCI AC Golden Dragon Index +15.61% PORTFOLIO REVIEW The sub-fund marginally underperformed during the 12 month period. The underperformance was primarily attributable to stock selection decisions at the country level and asset allocation decisions at the sector level. Stock selection in China and the financials and consumer discretionary sectors were the main contributors to performance. A Chinese life insurance company performed strongly amid improvement in its agency sales force, coupled with strong productivity enhancements. A Chinese company involved worldwide infrastructure construction also performed well after signing a contract to build an underwater tunnel in Bangladesh while its dredging business remains a bright spot with strong new orders and revenue growth. Additionally, a Hong Kong-based provider of application software products and solutions rallied after announcing the establishment of a wholly-owned subsidiary to promote its export tax software and services to the Shandong province. Shandong province is among the top provinces in terms of export value and penetration into this province is expected to boost revenue. Key notable detractors include a Chinese telecommunications provider that experienced a slowdown in revenue growth. Additionally, gaming stocks declined as weaker demand following the Golden Week holiday as well as tight visitation policies and a crackdown on corruption pushed gaming revenues down. Strong stock selection in China was offset by stock selection in Hong Kong and Taiwan. Fears of Chinese equities entering a bear market and the potential fallout in Greece kept buyers on the sidelines. However, stock selection in a number of sectors, particularly financials, consumer discretionary and industrials, was a positive contributing factor. China remain the sub-fund s largest overweight while the sub-fund continues to have an underweight in Hong Kong and Taiwan. MARKET REVIEW Chinese equities continued to make strong gains over the period, advancing to seven year highs despite mixed economic data. However, the equity market saw more volatility towards the end of the period as authorities moved to curb margin financing and liquidity tightened. China s first quarter GDP grew at 7%, its slowest pace in six years, down from 7.3% in the fourth quarter of 2014. The official manufacturing purchasing managers index (PMI) fell from 51.0 in July 2014 to 49.8 in January 2015, the lowest reading in two and a half years before recovering to 50.2 in May 2015. Industrial production and retail sales figures towards the end of the period saw moderate growth. However, new house prices continued to decline after first showing a year-on-year fall in September 2014. Meanwhile, China s fixed-asset investment rose 11.4% in the first five months of 2015, the slowest rate in nearly 15 years. Policy wise, the People s Bank of China (PBoC) cut interest rates four times during the period, reducing the one-year lending rate to 4.85% and the one-year deposit rate to 2%, while reserve requirement ratios (RRR) for banks were also cut. During the period, the Chinese government also revealed further details for a modern Silk Road under the One Belt, One Road plan to increase infrastructure investment across Asia, Africa and Europe. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 157 MANULIFE GLOBAL FUND

Greater China Opportunities Fund Authorities also announced further market reforms, including allowing mainland mutual funds to invest in Hong Kong shares via the Shanghai-Hong Kong Stock Connect and a mutual recognition scheme that will allow funds domiciled in either Hong Kong or the mainland to be marketed and distributed across both territories. In Taiwan, the equity market declined slightly on global growth concerns and its impact on the technology manufacturing sector. OUTLOOK In China, the equity market corrected sharply in June but was still up on a year-to-date basis as investors took profit after a prolonged market rally. The government continues to undertake a program of monetary and fiscal support measures designed to maintain an appropriate balance between ongoing structural reform and the need to maintain sufficient economic growth. The government has also shifted from targeted to more broad based measures to focus on the wider economy. The Sub-fund s portfolio manager believes that further stimulus measures such as interest rate cuts, reserve requirement ratio (RRR) cuts and moderate liquidity injections are likely to follow in the months ahead. In addition, the Sub-fund s portfolio manager anticipates more relaxation in property related polices and the government is also expected to boost infrastructure investment through the One Belt, One Road development program. Furthermore, the Sub-fund s portfolio manager believes state owned enterprise (SOE) reforms will raise the efficiency and competitiveness of SOEs, benefiting sectors such as telecommunications and energy. In addition, the market continues to be buoyed by Qualified Domestic Institutional Investor (QDII) funds and domestic retail investors buying Hong Kong-listed Chinese stocks that are trading at a discount to their A-share peers via the Stock Connect. The industrial sector has also performed strongly recently. Railway companies in particular, have been buoyed by the merger between CSR and CNR, as well as potential overseas orders driven by the One Belt, One Road scheme and the establishment of the Asia Infrastructure Investment Bank. Furthermore, the Sub-fund s portfolio manager believes the upcoming launch of the Shenzhen-Hong Kong Connect is likely to be a positive for the overall market as it will open up more investment opportunities for investors. In Taiwan, the Sub-fund s portfolio manager believes there are investment opportunities in stocks with exposure to Apple supply chain especially those that are gaining market share or benefiting from new features or applications of Apple new products. The Sub-fund s portfolio manager continues to have a less positive outlook on other technology companies, particularly in personal computer and television sub-sectors. Overall, the Sub-fund s portfolio manager remains relatively conservative on portfolio construction and will focus more on company quality and earnings growth potential rather than strong economic recovery expectation and thematic plays. MANULIFE GLOBAL FUND 158

HEALTHCARE FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Canada 60,195 Valeant Pharmaceuticals 6,510,504 13,265,774 4.49 6,510,504 13,265,774 4.49 Cayman Islands 875,280 3sbio Inc. 1,027,316 1,100,849 0.37 1,027,316 1,100,849 0.37 France 94,489 Sanofi-Aventis SA 9,447,574 9,464,173 3.20 9,447,574 9,464,173 3.20 Germany 91,133 Fresenius SE 5,080,516 5,900,310 2.00 5,080,516 5,900,310 2.00 Ireland 132,802 Medtronic Inc. 9,079,006 9,812,740 3.32 9,079,006 9,812,740 3.32 Switzerland 90,692 Novartis AG ADR 7,099,161 8,961,277 3.03 42,561 Roche Holding AG 11,198,110 12,083,126 4.09 18,297,271 21,044,403 7.12 United Kingdom 64,542 Astrazeneca plc 4,503,593 4,121,185 1.39 272,102 Glaxosmithkline plc 6,159,480 5,717,907 1.93 1,051,013 Indivior plc 2,374,955 3,796,310 1.28 485,310 Smith & Nephew plc 8,170,409 8,264,078 2.79 21,208,437 21,899,480 7.39 United States 166,887 Abbott Laboratories 6,209,873 8,219,185 2.78 205,403 Abbvie Inc. 11,122,232 13,870,864 4.69 101,635 Amerisourcebergen Corp. 6,444,363 10,830,226 3.66 56,220 Amgen Inc. 6,270,251 8,605,033 2.91 157,763 Baxter International Inc. 10,927,326 11,190,129 3.79 58,450 Becton Dickinson & Company 6,210,106 8,293,471 2.80 42,977 Biogen Idec Inc. 13,126,582 17,232,488 5.84 20,858 Bio-Rad Laboratories Inc. A 2,459,522 3,144,761 1.06 76,105 Bristol-Myers Squibb Company 4,366,365 5,025,974 1.70 152,143 Bruker Corp. 2,917,424 3,131,103 1.06 82,226 Cardinal Health Inc. 4,878,381 6,939,052 2.35 24,514 Celgene Corp. 2,876,712 2,829,896 0.96 15,733 Cooper Companies Inc. 2,786,361 2,802,834 0.95 90,190 CVS Caremark Corp. 5,901,526 9,487,988 3.21 170,770 Eli Lilly & Company 10,193,202 14,303,694 4.84 10,228 Emergent Biosolutions Inc. 286,123 333,126 0.11 133,088 Express Scripts Inc. 9,342,196 11,876,773 4.02 64,582 Gilead Sciences Inc. 7,105,692 7,601,301 2.57 59,893 Hillenbrand Inc. 1,742,355 1,835,122 0.62 196,957 Johnson & Johnson 19,062,723 19,331,329 6.53 43,131 Juno Therapeutics Inc. 2,231,299 2,464,074 0.83 27,363 Mckesson Corp. 4,104,917 6,166,526 2.09 159 MANULIFE GLOBAL FUND

HEALTHCARE FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 167,695 Merck & Company Inc. 8,502,403 9,592,154 3.24 281,599 Pfizer Inc. 8,357,431 9,416,671 3.18 108,856 Stryker Corp. 8,699,031 10,415,342 3.52 69,515 Zimmer Holdings Inc. 6,126,510 7,595,904 2.57 172,250,906 212,535,020 71.88 Equities Total 242,901,530 295,022,749 99.77 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 242,901,530 295,022,749 99.77 Portfolio of Investments 242,901,530 295,022,749 99.77 Other Net Assets 687,497 0.23 Net Assets 295,710,246 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 160

HEALTHCARE FUND Investment Objective: The sub-fund aims to provide medium to long term capital growth for those who hold a long term investment view and who are prepared to accept significant fluctuations in the value of their investments in order to achieve long term returns. It is intended that the investments will be made on a diversified basis. The underlying investment portfolio will mainly consist of equity-related investments and equities of companies in healthcare and related industries globally and which are listed on any stock exchange. The sub-fund may invest in companies which derive a significant portion of their earnings from medical and pharmaceutical products and services. The remaining assets of the sub-fund may include bonds, deposits and other investments. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Healthcare Fund Class AA +18.04% MSCI World/Health Care Index +17.19% Portfolio Review The Sub-fund returned 18.04% for the period, compared to the MSCI World/Health Care Index return of 17.19%. The health care services sub-sector contributed to the Sub-fund s performance as a result of the U.S. Supreme Court s upholding of the Affordable Care Act, as well as increased mergers and acquisitions activity among managed care companies. On an individual securities basis, Valeant Pharmaceuticals International, Inc. contributed to the Sub-fund s performance as a result of the company s operational improvements. AmerisourceBergen contributed significantly to the performance as well due to the continued strength in its business fundamentals. Conversely, the health care technology sub-sector detracted from the Sub-fund s performance, largely as a result of a rotation out of that sub-sector. On an individual securities basis, the Sub-fund s lack of position in health insurer Cigna Corporation detracted from performance, as the company received a US$47 billion takeover bid by Anthem, Inc. Market Review The health care index rose 17.75% over the year, significantly outperform the broader market. Continued strength in drug developments and industry consolidations fostered the tremendous uptick in healthcare stocks. Outlook Health care stocks have appreciated significantly over the past three years. Our sub-fund s portfolio manager believe this has been largely driven by innovations & consolidations in the industry. However, they also note that all health care stocks rose, despite the difference in innovation quality between companies. In our view, the underlying quality of individual stocks is set to become a more significant driver of returns over the long term. They have to be very conservative at this point and carefully select the truly innovative companies. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 161 MANULIFE GLOBAL FUND

INDIA EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities India 1,057,651 Axis Bank Limited 6,776,642 9,283,796 4.69 45,170 Bayer Cropscience Limited 2,498,723 2,811,011 1.42 150,197 Bharat Forge Limited 2,367,182 2,507,881 1.27 216,323 Bharat Petroleum Corp. Limited 2,945,685 2,987,272 1.51 586,736 Cipla Limited 5,836,540 5,670,358 2.87 682,566 Coal India Limited 3,972,936 4,515,386 2.28 64,293 Colgate-Palmolive Company 2,048,703 2,059,448 1.04 185,075 Cummins India Limited 2,642,027 2,605,749 1.32 38,868 Fag Bearings India Limited 1,389,105 2,513,924 1.27 486,739 Gateway Distriparks Limited 3,177,944 2,620,659 1.32 153,673 Godrej Consumer Products Limited 2,717,093 2,985,711 1.51 737,501 Gujarat Pipavav Port Limited 2,250,078 2,523,656 1.28 557,977 Hcl Technologies Limited 7,387,731 8,059,283 4.07 568,455 Hdfc Bank Limited 8,422,040 9,526,466 4.81 68,311 Hero Honda Motors Limited 2,623,681 2,707,100 1.37 503,325 Hindustan Lever Limited 6,677,173 7,245,795 3.66 445,208 Housing Development Finance Corp. 6,497,324 9,064,191 4.58 403,147 IndusInd Bank Limited 4,879,786 5,525,081 2.79 977,785 Infosys Technologies Limited 13,880,284 15,114,828 7.64 1,077,949 Infrastructure Development Finance Company 2,731,207 2,500,282 1.26 Limited 240,494 Ipca Laboratories Limited 2,486,052 2,680,148 1.35 582,282 ITC Limited 2,957,493 2,881,781 1.46 170,656 Kajaria Ceramics Limited 1,773,329 1,954,377 0.99 369,813 Kalpataru Power Transmission Limited 1,406,379 1,514,317 0.77 122,434 Kotak Mahindra Bank Limited 2,395,990 2,664,483 1.35 304,319 Larsen & Toubro Limited 6,418,147 8,520,046 4.31 150,445 Maruti Suzuki India Limited 6,640,950 9,505,520 4.81 325,062 Motherson Sumi Systems Limited 2,651,877 2,647,846 1.34 141,419 PI Industries Limited 1,036,812 1,431,223 0.72 357,172 Prestige Estates Projects Limited 1,397,504 1,386,552 0.70 669,539 Reliance Industries Limited 10,285,710 10,515,492 5.32 487,605 Sadbhav Engineering Limited 1,808,717 2,224,843 1.12 280,469 SKS Microfinance Limited 1,996,982 2,055,573 1.04 1,011,619 State Bank of India Limited 3,979,280 4,174,169 2.11 567,066 Sun Pharmaceutical Industries Limited 6,067,762 7,788,492 3.94 MANULIFE GLOBAL FUND 162

INDIA EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets India (continued) 345,602 Tata Consultancy Services Limited 10,725,060 13,844,857 7.00 1,010,436 Tata Motors Limited 7,237,551 6,889,043 3.48 140,572 Ultra Tech Cement Limited 6,332,726 6,608,168 3.34 411,245 Voltas Limited 1,918,228 2,036,268 1.03 18,000 Wabco India Limited 1,071,613 1,510,062 0.76 172,310,046 195,661,137 98.90 Equities Total 172,310,046 195,661,137 98.90 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 172,310,046 195,661,137 98.90 Portfolio of Investments 172,310,046 195,661,137 98.90 Other Net Assets 2,171,822 1.10 Net Assets 197,832,959 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. 163 MANULIFE GLOBAL FUND

INDIA EQUITY FUND Investment Objective: The sub-fund aims to provide long-term capital growth for those investors who hold a long-term investment view and are prepared to accept significant fluctuations in the value of their investments. The sub-fund s investment portfolio will consist mainly of equity-related investments and equities of companies covering the different sectors of the Indian economy and which are listed on a stock exchange either in India or overseas. The remaining assets of the sub-fund may include convertible bonds, bonds, deposits and other investments. Investments in the Indian market shall be made through a Foreign Institutional Investor ( FII ) registered with the India regulator. Such an FII can be either the Company or the Investment Manager. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* India Equity Fund Class AA +10.76% MSCI India 10/40 Index +3.23% PERFORMANCE FROM 15 JANUARY 2015 TO 30 June 2015 India Equity Fund Class I2-1.56% PORTFOLIO REVIEW The year under review was the first year under the new government. Despite high expectations, the pace of economic reform has been slower than expected. As a result, relatively defensive sectors such as healthcare, consumer staples and information technology outperformed. On the other hand, global cyclical sectors such as energy and materials underperformed due to sluggish global growth. The subfund was overweight on domestic cyclical sectors such as consumer discretionary, financials and industrials. The sub-fund was underweight in defensive sectors such as consumer staples. The subfund was also underweight in telecommunications and utilities, due to regulatory uncertainty and rising capital expenditure. The sub-fund was also underweight in the materials and energy sectors due to the moderation of growth in China and sluggish global growth elsewhere. Stock selection in the building materials and industrials sector were the biggest contributors to performance. The sub-fund s underweight stance in consumer staples and an overweight stance in industrials also added value. On the other hand, an underweight stance in healthcare and stock selection in information technology detracted from performance. MARKET REVIEW During the first three months of the year under review Indian equity markets gradually moved up, as investors assessed growth opportunities and economic reforms that could be implemented by a stable, reform-friendly government. The new government also presented its first budget, which laid down the roadmap for fiscal consolidation, reducing inflation and encouraging overall macro stability. During the following quarter, Indian markets turned volatile in December after a sustained period of gains due to an abrupt drop in global commodity prices and in other emerging markets. Following a global decline in agricultural commodity prices, cash crop prices in India also declined leading to lesser than expected demand from rural India. In the first quarter of 2015, the market eventually headed higher with the start of an interest rate cut cycle from the Reserve Bank of India (RBI) the key catalyst. Markets turned volatile in early February as corporate results came in below expectations, but rallied again on the hopes of economic recovery. During February, the government presented its first full-term budget in which public capital expenditure received a boost. By early March, the positive impact from fiscal consolidation and lower energy prices resulted in lower inflation numbers. That provided headroom for the RBI to further ease interest rates in March 2015. However, there were unseasonal rains which had a negative impact on winter crops. In the last quarter of the year under review, markets gradually trended lower. Although the new government has done well on fiscal consolidation and reducing inflation, its success on accelerating spending on-the-ground has been mixed. As a result of falling inflation and a lag in banks passing on interest rate cuts, real interest rates increased. These factors along with lower than expected demand from rural India due to unseasonal weather and lower crop prices, led to lower than expected earnings results from corporates. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 164

INDIA EQUITY FUND In the Sub-fund s portfolio manager s view, the government has succeeded in containing the fiscal deficit and been successful in stabilising the energy sector by increasing coal output. However, the government s performance on reviving infrastructure investment has been mixed while the capitalisation of state-owned banks remains a concern. The Sub-fund s portfolio manager expects infrastructure investments to become broader based. The fiscal position may be strengthened further if parliament passes the constitutional amendment to implement the goods and services tax (GST), which will bring in better efficiency and compliance for indirect taxes. The Sub-fund s portfolio manager also expects the consumption cycle to recover on the back of the Pay Commission s recommendations in early 2016. OUTLOOK The Sub-fund s portfolio manager expects a pickup in the Indian economy, although this may be gradual and uneven. Therefore, the Sub-fund s portfolio manager retains an overweight stance in domestic cyclical sectors such as consumer discretionary, financials and industrials. The Sub-fund s portfolio manager remains positive over the medium- to long-term on export-oriented sectors such as information technology and healthcare. Accordingly, the sub-fund has a close to neutral stance on both sectors. Consumer staples remain underweight primarily due to taxation related concerns, which, in turn is slowing growth for the tobacco industry. Sectors such as telecoms and utilities also remain underweight due to regulatory uncertainty, increased competition and the capital-intensive nature of their businesses. The materials sector remains underweight. However, within the sector, the Sub-fund s portfolio manager has a positive outlook on the building materials sub-sector and on holdings related to cement and paint. The underweight stance on the materials sector is a result of the negative stance on global metal stocks both in ferrous and non-ferrous metals. Although metal prices have stabilised and metals holdings have rallied, it is still not clear how long the moderation in growth in China will last. 165 MANULIFE GLOBAL FUND

INTERNATIONAL GROWTH FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Australia 32,525 Dexus Property Group 191,774 183,132 1.01 191,774 183,132 1.01 Austria 1,777 Voestalpine AG 56,882 74,916 0.42 56,882 74,916 0.42 Bermuda 550 Everest Re Group Limited 45,991 99,842 0.55 45,991 99,842 0.55 Canada 4,717 H&r Real Estate Investment Trust 99,269 83,867 0.47 3,501 Magna International Inc. 185,586 196,256 1.09 6,842 Power Corp. of Canada 187,472 175,898 0.98 2,902 Suncor Energy Inc. 96,355 79,787 0.44 568,682 535,808 2.98 Cayman Islands 12,156 Cheung Kong Property Holding 53,631 100,827 0.56 12,156 Ck Hutchison Holdings Limited 127,887 178,604 0.99 181,518 279,431 1.55 Denmark 4,783 Iss A/S 152,359 158,513 0.88 152,359 158,513 0.88 Finland 4,933 Upm-Kymmene Oyj 93,369 88,269 0.49 93,369 88,269 0.49 France 3,896 AXA SA 65,493 99,379 0.55 1,955 Cap Gemini SA 137,473 175,413 0.97 3,648 Carrefour SA 140,933 118,461 0.66 1,106 Casino Guichard Perrachon SA 115,195 84,883 0.47 6,198 Credit Agricole 96,702 93,554 0.52 1,806 Imerys SA 89,465 139,233 0.77 12,988 Orange SA 157,091 202,588 1.12 1,950 Renault SA 114,104 205,469 1.14 2,146 Sanofi-Aventis SA 203,169 214,947 1.19 2,112 Thales SA 136,883 129,006 0.72 3,045 Total SA 169,539 149,734 0.83 1,581 Vinci SA 78,292 92,730 0.51 1,504,339 1,705,397 9.45 Germany 2,464 Bayerische Motoren Werke AG Pfd 184,061 209,661 1.16 5,649 Deutsche Lufthansa AG Reg 150,265 73,502 0.41 3,021 Fresenius SE 126,910 195,591 1.08 2,053 United Internet AG Reg 89,701 92,299 0.51 550,937 571,053 3.16 MANULIFE GLOBAL FUND 166

INTERNATIONAL GROWTH FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Hong Kong 13,500 Swire Pacific Limited 187,248 169,704 0.95 18,000 Wharf Holdings Limited 132,184 119,811 0.66 Ireland 319,432 289,515 1.61 1,822 Medtronic Inc. 82,938 134,627 0.75 82,938 134,627 0.75 Japan 1,600 Canon Inc. 63,751 52,078 0.29 4,100 Hoya Corp. 116,448 164,429 0.91 5,700 Itochu Corp. 56,343 75,329 0.42 39,600 Marubeni Corp. 269,182 227,299 1.26 26,200 Mitsubishi Ufj Financial Group Inc. 162,990 188,392 1.04 17,200 Mitsubishi Ufj Lease & Finance Company 90,646 94,185 0.52 Limited 12,300 Mitsui & Company Limited 200,686 167,126 0.93 55,300 Sojitz Corp. 98,078 134,233 0.74 5,000 Sumitomo Metal Mining Company Limited 72,024 76,151 0.42 45,000 Sumitomo Mitsui Trust Holdings Inc. 188,488 206,179 1.14 6,800 Sumitomo Rubber Industries Limited 98,225 105,428 0.58 3,400 Toyota Motor Corp. 216,510 227,945 1.27 1,633,371 1,718,774 9.52 Jersey Channel Islands 2,715 Shire plc 182,800 218,117 1.21 12,090 Wpp plc 259,934 273,102 1.51 442,734 491,219 2.72 Netherlands 14,217 Aegon NV 127,053 105,769 0.59 13,755 Koninklijke Ahold NV 238,308 261,452 1.45 3,302 NN Group NV 93,427 93,656 0.52 458,788 460,877 2.56 Norway 2,777 Yara International ASA 135,937 144,465 0.80 135,937 144,465 0.80 Singapore 10,000 United Overseas Bank Limited 161,585 171,409 0.95 161,585 171,409 0.95 Sweden 6,935 Volvo AB B 91,146 86,791 0.48 91,146 86,791 0.48 Switzerland 1,223 Lonza Group AG Reg 138,400 164,794 0.91 616 Swiss Life Holding AG Reg 94,324 142,689 0.79 232,724 307,483 1.70 United Kingdom 14,186 Barclays Bank plc 58,995 58,559 0.32 3,105 Imperial Tobacco Group plc 102,553 150,843 0.84 4,488 Travis Perkins plc 125,367 149,878 0.83 286,915 359,280 1.99 167 MANULIFE GLOBAL FUND

INTERNATIONAL GROWTH FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States 2,940 Abbvie Inc. 126,545 198,538 1.10 2,030 Aetna Inc. 124,245 259,739 1.45 2,719 Allstate Corp. 115,125 176,571 0.98 6,233 Ameren Corp. 244,343 234,673 1.30 1,632 Amgen Inc. 196,180 249,794 1.39 5,173 Apple Computer Company 324,656 646,677 3.59 5,066 Archer-Daniels-Midland Company 204,514 247,727 1.37 7,431 AT&T Inc. 261,909 265,696 1.48 9,630 Bank of America Corp. 128,420 162,651 0.90 1,156 Boeing Company 87,027 160,707 0.89 4,661 Ca Inc. 130,744 135,728 0.75 2,498 Chevron Corp. 220,636 241,931 1.34 4,322 Cisco Systems Inc. 101,566 118,336 0.66 2,593 Citigroup Inc. 129,329 142,745 0.79 3,198 Comcast Corp. 131,838 191,304 1.06 7,557 Conagra Foods Inc. 224,201 331,374 1.83 472 Cr Bard Inc. 69,187 80,868 0.45 2,460 Delta Air Lines Inc. 97,784 102,287 0.56 3,290 Dow Chemical Company 128,764 168,251 0.93 1,505 Eastman Chemical Company 115,898 124,313 0.69 1,582 Entergy Corp. 103,583 111,056 0.62 3,635 Exxon Mobil Corp. 293,747 302,942 1.68 7,353 Ford Motor Company 127,526 110,883 0.61 2,087 Gamestop Corp. 90,486 89,428 0.50 3,409 Gilead Sciences Inc. 302,096 401,239 2.22 2,597 Harris Corp. 147,442 200,619 1.11 1,199 International Business Machines Corp. 142,069 195,449 1.09 2,960 Johnson Controls Inc. 107,227 147,645 0.82 4,618 JPMorgan Chase & Company 183,028 311,761 1.74 2,641 Kohl s Corp. 194,831 165,459 0.91 3,947 Kroger Company 90,576 287,815 1.60 3,171 Lennar Corp. 138,213 163,053 0.90 2,143 Macy s Inc. 95,877 145,381 0.81 1,611 Manpower Inc. 133,599 143,750 0.80 1,319 Mckesson Corp. 177,861 297,250 1.65 6,220 Microsoft Corp. 175,937 274,551 1.53 4,403 Mosaic Company 233,096 203,748 1.14 7,591 Navient Corp. 145,987 138,915 0.77 5,623 Oracle Corp. 189,582 225,988 1.25 1,920 Phillips 66 85,490 154,368 0.86 1,672 Prudential Financial Inc. 117,096 146,300 0.81 3,685 Public Service Enterprise Group Inc. 149,517 144,231 0.80 1,616 Qualcomm Inc. 114,240 101,630 0.56 MANULIFE GLOBAL FUND 168

INTERNATIONAL GROWTH FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 1,741 Travelers Companies Inc. 116,402 167,206 0.93 2,571 Tyson Foods Inc. A 79,492 111,401 0.62 1,570 Unitedhealth Group Inc. 113,243 190,551 1.06 3,198 Verizon Communications Inc. 132,272 149,794 0.83 1,295 Wellpoint Inc. 123,687 213,403 1.18 4,210 Western Union Company 79,010 85,884 0.48 7,346,123 9,621,610 53.39 Equities Total 14,537,544 17,482,411 96.96 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 14,537,544 17,482,411 96.96 Portfolio of Investments 14,537,544 17,482,411 96.96 Other Net Assets 547,835 3.04 Net Assets 18,030,246 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. 169 MANULIFE GLOBAL FUND

INTERNATIONAL GROWTH FUND Investment Objective: The sub-fund aims to achieve capital growth from a balanced portfolio of international securities. The sub-fund is designed as a relatively lower risk way of participating in world stockmarkets and offers an alternative to the other, more aggressive, regional sub-funds. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* International Growth Fund Class A +3.32% International Growth Fund Class AA +3.06% MSCI World Index +1.97% PORTFOLIO REVIEW Equities, as measured by the MSCI World Index in US dollars, rose by 2% over the past 12 months. Stocks generally outperformed bonds over the year, with US stocks as measured by the S&P 500 Index up to 7.41% whilst bonds as measured by the Barclays Capital US Aggregate Index were up by 1.86%. US bonds rallied as the 10-year Treasury yield moved from 2.53% to 2.35%. Emerging market equities generally underperformed developed market equities, as the MSCI Emerging Markets Index fell by 4.89% measured in US dollars. Healthcare was the best performing global sector over the year, up by 17.7%. The energy sector lagged, down by 25.8%. The euro decreased against the US dollar by 18.59% over the year, whilst British sterling decreased against the US dollar by 8.15%. The Japanese yen fell by 17.2% against the US dollar. MARKET REVIEW The Fund outperformed the benchmark MSCI World by 3.38% over the last 12 months. The top five contributors to relative performance were ConAgra Foods, Kroger, Aetna, Northrop Grumman and Mylan. The top five detractors from relative performance were Casino, Guichard-Perrachon, Suncor Energy, Chevron, Deutsche Lufthansa and Marubeni. The Fund has no significant sector bets, the largest overweight sector is healthcare (3.1%) and the largest underweight is energy (-2.1%). In terms of stocks, the Fund is overweight ConAgra Foods, Gilead Sciences and McKesson and underweight Wells Fargo, Johnson & Johnson and General Electric. The best performing stocks over the year were Valeant Pharmaceuticals (75.2%), UnitedHealth Group (51.6%) and Gilead Sciences (41.7%). The worst performing stocks were Royal Dutch Shell Class B (-31%), Total (-29.1%) and Banco Santander (-28.3%). OUTLOOK The Greek debt crisis brought uncertainty and anxiety to the market. Other concerns surrounding slowing Chinese growth, a sluggish European recovery and ongoing geopolitical risks have also weighed on global equity markets. The US Federal Reserve may increase interest rates by the end of the year. Corporate earnings have to achieve further growth to support strong market performance. On balance, we believe global stocks have further upside, but we will not be surprised if volatility increases again. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 170

JAPANESE GROWTH FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Japan 7,300 Aeon Company Limited 98,607 103,664 0.27 4,000 Aeon Financial Service Company Limited 92,701 111,152 0.29 94,300 Amada Company Limited 889,567 997,296 2.58 94,000 Asahi Glass Company Limited 580,789 564,668 1.46 82,000 Asahi Kasei Corp. 685,702 673,867 1.74 59,100 Astellas Pharma Inc. 882,328 843,113 2.17 37,000 Dai Nippon Printing Company Limited 372,596 382,383 0.99 51,500 Daiichi Sankyo Company Limited 876,464 952,932 2.46 132,000 Daiwa Securities Group Inc. ADR 1,040,705 989,501 2.55 85,000 Denki Kagaku Kogyo K K 303,412 377,917 0.97 1,100 East Japan Railway Company 94,501 98,982 0.26 180,000 Ebara Corp. 895,129 872,380 2.25 700 Falco Holdings Company Limited 8,529 8,765 0.02 7,900 FJ Next Company Limited 37,745 40,806 0.11 85,000 Fuji Electric Holdings Company Limited 408,685 366,107 0.94 800 Fuji Kiko Company Limited 4,266 4,348 0.01 36,200 Heiwa Real Estate Company Limited 519,150 497,046 1.28 13,000 Hitachi Capital Corp. 320,411 344,244 0.89 164,000 Hitachi Limited 1,151,340 1,081,404 2.79 2,900 Honda Motor Company Limited 94,566 93,894 0.24 100 Ichinen Holdings Company Limited 980 952 0.00 63,200 Itochu Corp. 770,499 835,229 2.15 51,200 KDDI Corp. 1,151,554 1,236,115 3.19 64,600 Keihin Corp. 1,075,844 927,119 2.39 9,900 Konica Minolta Holdings Inc. 107,608 115,623 0.30 78,000 Kuraray Company Limited 1,004,065 954,322 2.46 18,400 Kyocera Corp. 1,004,927 956,881 2.46 18,100 Kyokuto Kaihatsu Kogyo Company 206,547 196,895 0.51 900 Meiwa Estate Company Limited 4,233 4,766 0.01 16,000 Mitsubishi Chemical Holdings Corp. 90,735 100,756 0.26 27,000 Mitsubishi Heavy Industries Limited 152,475 164,332 0.42 14,000 Mitsubishi Motors Corp. 127,175 119,227 0.31 49,200 Mitsubishi Ufj Financial Group Inc. 282,884 353,775 0.91 73,500 Mitsui & Company Limited 1,027,078 998,682 2.58 153,000 Mitsui Mining & Smelting Company Limited 361,874 413,902 1.07 24,000 Mitsui Sugar Company Limited 98,677 95,721 0.25 75,300 Mitsumi Electric Company Limited 550,208 510,801 1.32 640,100 Mizuho Financial Group Inc. 1,248,444 1,386,347 3.57 144,000 Nichirei Corp. 747,839 994,484 2.56 191,000 Nippon Express Company Limited 1,000,759 939,741 2.42 198,600 Nippon Light Metal Holdings Company 304,404 342,484 0.88 Limited 76,800 Nippon Suisan Kaisha Limited 247,166 219,689 0.57 37,200 Nippon Telegraph & Telephone Corp. 1,023,710 1,347,931 3.48 109,000 Nippon Yusen Kabushiki Kaisha 335,637 303,780 0.78 34,800 Nisshin Seifun Group Inc. 419,557 463,033 1.19 157,300 Nomura Holdings Inc. 1,063,124 1,067,823 2.75 171 MANULIFE GLOBAL FUND

JAPANESE GROWTH FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Japan (continued) 56,300 Ntt Docomo Inc. 999,599 1,078,560 2.78 14,000 Obayashi Corp. 92,326 102,178 0.26 27,300 Orix Corp. 417,100 406,304 1.05 239,000 Osaka Gas Company Limited 918,015 944,046 2.43 176,500 Resona Holdings Inc. 908,397 964,327 2.49 14,900 Secom Company Limited 941,429 967,517 2.49 6,200 Sekisui House Limited 100,109 98,507 0.25 5,400 Seven & I Holdings Company Limited 210,277 232,144 0.60 39,800 Showa Shell Sekiyu KK 378,954 348,053 0.90 158,300 Sky Perfect Jsat Holdings Inc. 955,073 850,011 2.19 2,600 Softbank Corp. 153,985 153,189 0.39 57,500 Sony Financial Holdings Inc. 885,540 1,008,500 2.60 2,600 Step Company Limited 21,176 22,036 0.06 145,000 Sumitomo Heavy Industries Limited 902,040 846,144 2.18 31,100 Sumitomo Mitsui Financial Group Inc. 1,178,356 1,387,560 3.58 6,700 Tachi-S Company Limited 100,232 95,718 0.25 10,700 Taiyo Yuden Company Limited 158,657 150,240 0.39 61,800 Tokai Tokyo Financial Holdings Inc. 474,431 450,033 1.16 26,800 Tokio Marine Holdings Inc. 1,052,318 1,115,763 2.88 50,200 Tokyu Fudosan Holdings Corp. 360,094 387,306 1.00 1,000 Toppan Printing Company Limited 8,757 8,369 0.02 15,900 Toyota Motor Corp. 950,897 1,065,977 2.75 288,000 Ube Industries Limited 484,288 543,729 1.40 15,200 West Japan Railway Company 867,682 973,332 2.51 5,500 Yokohama Rubber Company Limited 108,405 110,490 0.28 37,393,333 38,764,912 99.95 Equities Total 37,393,333 38,764,912 99.95 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 37,393,333 38,764,912 99.95 Portfolio of Investments 37,393,333 38,764,912 99.95 Other Net Assets 19,620 0.05 Net Assets 38,784,532 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 172

JAPANESE GROWTH FUND Investment Objective: The sub-fund aims to achieve capital growth principally from a portfolio of Japanese stocks, with the emphasis on larger companies. Scope exists for a proportion of the sub-fund to be invested in warrants. It should be noted that the value of assets invested in warrants is subject to greater fluctuations, warrants being more volatile than ordinary shares. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Japanese Growth Fund Class A +5.99% Japanese Growth Fund Class AA +5.72% TOPIX Index -3.10% PORTFOLIO REVIEW The sub-fund outperformed the benchmark for the year to 30 June 2015. Stock selection contributed to relative performance while sector allocation partially offset gains. The sub-fund underperformed in the first half of the year, but performed strongly during the latter half of the year. In terms of sector allocation, the underweight position in real estate contributed positively to performance, while the underweight position in land transportation detracted from performance. One of the largest contributors to stock selection was Aoyama Trading, which operates menswear chain stores. Aoyama announced in January 2015 that they intend to dramatically increase shareholder returns in the coming three fiscal years, with up to a 130% payout ratio. On the other hand, office equipment and electronic device manufacturer Ricoh underperformed due to disappointing earnings. MARKET REVIEW The TOPIX Total Return Index rose by 31.55% in Japanese yen (JPY) terms over the period. The upward trend during the first six months was mainly driven by JPY depreciation against the US dollar, expectations for Government Pension Investment Fund (GPIF) reform (eg, more allocation to Japanese stocks) and the Bank of Japan s (BoJ) quantitative easing announcement on 31 October 2015. This was followed by a stable JPY/USD rate, positive earnings estimates and results and a correction in the low valuation of Japanese stocks. If we look at the entire period, the Japanese market performed well throughout most of the year. However, we saw a sell-off towards the end of June. The yen weakened in mid-may, but stayed between 120 and 125 versus the dollar. After annualising last year s consumption tax hike, core CPI (ex food and energy) was reported at 0.4% in April and May. This is still a concern for the BoJ, which is targeting 2% core CPI by the end of 2015, but much of this weakness can be explained by the decline in oil prices (-40% in JPY terms year-on-year). There are no signs yet that the BoJ will further increase its quantitative easing programme. The 10-year Japanese government bond (JGB) bond yield recovered from a low of 0.2% in January to 0.5% in June. The unemployment rate also fell to 3.3%, its lowest level since early 1997. Continuing labour shortages are beginning to flow through into high wages which will in turn put upward pressure on Japan s CPI. Meanwhile, the recent Tankan survey showed that Japanese companies are planning to invest more over the course of the year. The strongest performing sectors over the period were insurance, banks and retail while the weakest performers were tyres, shipping and real estate. Real estate appeared to be the anomaly here as rents continue to rise on the back of declining vacancy rates. Insurance companies and banks performed well after weakness earlier in the year. Rising bond yields and rising demand for loans benefited sentiment in these sectors. The first quarter of the 2015 calendar year saw positive surprises to shareholder returns from many companies, including Fanuc. The second quarter saw opportunistic equity issuances from a number of large companies, including Rakuten and Sony. This was a bit of a disappointing reversal of earlier moves towards improving returns on equity. However, for most Japanese companies, the path towards improving capital efficiency remains clear. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 173 MANULIFE GLOBAL FUND

JAPANESE GROWTH FUND OUTLOOK The Japanese market is focusing more and more on improving return-on-equity (ROE), with many companies announcing higher dividend payments and share buybacks. Some of the strongest performing companies year-to-date have been companies which have announced major share buyback programmes. Although increasing returns to shareholders has no effect on the underlying fundamentals of a company s free cashflow generation, it is a clear sign that many Japanese companies are intent on improving their capital efficiency by returning surplus funds to shareholders rather than keeping them on their balance sheet. This is a clear cultural change for many companies and is likely to become the new normal as cultural changes tend to have a snowball effect in Japan. One reason for the focus on improving ROE is the Institutional Shareholder Services determination to recommend voting against any Japanese management that has achieved less than 5% ROE over the last five years. Kirin, which has achieved just a 3.9% ROE, saw the chairman s approval rate fall from 94% to 78%. Although this was not enough to oust the chairman, it has the potential to accelerate management change. Consensus earnings forecasts are seeing positive momentum with many companies beating their forecasts for the fiscal year to end March 2015 and forecasting double digit earnings growth for 2015. After 10% growth in FY2013, consensus forecasts are for a further 5% aggregate earnings growth in FY2014 and a further 13% earnings growth in FY2015. This coupled with improving shareholder returns from higher dividend payouts and share buybacks provides a positive outlook for the Japanese market. Equity purchases undertaken by the GPIF and BoJ will also help to support the equity market in the medium term. MANULIFE GLOBAL FUND 174

LATIN AMERICA EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets 175 MANULIFE GLOBAL FUND Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Bermuda 13,617 Credicorp Limited 1,113,835 1,916,048 3.19 1,113,835 1,916,048 3.19 Brazil 424,970 Ambev SA ADR 2,517,022 2,617,815 4.36 241,376 Banco Bradesco SA ADR 3,163,929 2,223,073 3.71 160,935 Banco Itau Holding Financeira SA 2,281,131 1,784,299 2.97 185,300 BB Seguridade Participacoes SA 1,707,089 2,055,633 3.43 234,400 BR Malls Participacoes SA 1,355,967 1,099,177 1.83 77,316 BRF Brasil Foods SA ADR 1,788,125 1,617,451 2.70 43,332 Companhia Brasileira de Distribuicao Grupo 2,016,595 1,058,601 1.76 Pao de Acucar ADR 124,019 Cosan SA Industria e Comercio 1,690,304 1,017,338 1.70 89,200 Gaec Educacao SA 881,906 625,127 1.04 176,500 International Meal Company Alimentacao SA 1,283,724 551,207 0.92 298,270 Itau Unibanco Holding SA ADR 4,401,042 3,291,409 5.49 195,100 Klabin SA 935,909 1,190,865 1.98 460,900 Kroton Educacional SA 1,876,625 1,771,320 2.96 97,270 Localiza Rent a Car 1,526,517 979,486 1.63 22,200 Lojas Renner SA 638,608 823,360 1.37 72,100 Smiles SA 644,048 1,199,417 2.00 99,900 Totvs SA 1,786,052 1,252,461 2.09 85,000 Ultrapar Participacoes SA 1,949,983 1,808,489 3.01 70,200 Valid Solucoes e Servicos de Seguranca em 1,308,041 1,088,459 1.81 Meios de Pagamento e Identificacao SA 33,752,617 28,054,987 46.76 Chile 188,573 Forus SA 804,657 661,947 1.10 271,453 Saci Falabella 2,467,233 1,910,390 3.18 3,271,890 2,572,337 4.28 Luxembourg 61,109 Atento SA 689,187 872,637 1.45 689,187 872,637 1.45 Mexico 369,300 Alfa SA de CV 828,626 714,041 1.19 352,500 Alsea SAB de CV 1,248,332 1,085,944 1.81 641,875 Bolsa Mexicana de Valores SAB de CV 1,249,470 1,134,874 1.90 101,483 Cemex SAB de CV ADR 942,265 926,540 1.54 363,300 Compartamos SAB de CV 616,445 644,657 1.07 634,882 Corporacion Inmobiliaria Vesta SAB de CV 1,206,498 1,045,864 1.75 406,841 Cydsa SAB de CV 548,661 701,388 1.17 734,200 Fibra Uno Administracion SA de CV 1,536,549 1,745,507 2.91 32,443 Fomento Economico Mexicano SA de CV 1,853,073 2,902,351 4.84 ADR 281,500 Grupo Aeroportuario del Centro Norte SAB de CV 721,629 1,377,690 2.30

LATIN AMERICA EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Mexico (continued) 505,483 Grupo Financiero Banorte SAB de CV 2,236,115 2,733,479 4.56 598,000 Grupo Gicsa SA de CV 655,951 626,435 1.04 554,558 Grupo Mexico SAB de CV 1,314,376 1,659,893 2.77 415,087 Grupo Rotoplas SAB de CV 832,804 787,456 1.31 50,113 Grupo Televisa SA ADR 1,277,940 1,932,858 3.22 240,600 Infraestructura Energetica Nova SAB de CV 1,170,057 1,222,089 2.04 115,500 Promotora y Operadora de Infraestructura 1,235,901 1,256,104 2.09 SAB de CV 23,800 Promotora y Operadora de Infraestructura 312,563 234,099 0.39 SAB de CV 683,500 Wal-Mart de Mexico SAB de CV 1,623,505 1,661,208 2.77 21,410,760 24,392,477 40.67 Panama 6,595 Copa Holdings SA A 507,506 540,856 0.90 507,506 540,856 0.90 Peru 3 Grana y Montero SA 0 4 0.00 0 4 0.00 Spain 233,294 Cemex Latam Holdings SA 1,563,333 1,167,067 1.95 1,563,333 1,167,067 1.95 Equities Total 62,309,128 59,516,413 99.20 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 62,309,128 59,516,413 99.20 Portfolio of Investments 62,309,128 59,516,413 99.20 Other Net Assets 482,917 0.80 Net Assets 59,999,330 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 176

LATIN AMERICA EQUITY FUND Investment Objective: The sub-fund aims to make investments on a diversified basis to achieve long term capital growth for those investors who are prepared to accept significant fluctuations in the value of their investments. The sub-fund s underlying investment portfolio will consist mainly of equity-related investments and equities of companies covering different sectors of the Latin American economy, including, but not limited to Brazil, Chile, Colombia, Mexico and Argentina and which are listed on any stock exchange. The remaining assets of the sub-fund may include convertible bonds, bonds, deposits and other investments. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Latin America Equity Fund Class AA -24.54% MSCI Latin America 10/40 Index -23.19% PORTFOLIO REVIEW The sub-fund returned a negative performance over the 12-month period ending June 2015, as share prices fell broadly across all markets in Latin America with Brazil taking the lead, reflecting weaker commodity prices and the re-election of the interventionist Dilma Rousseff as president, to the dismay of financial markets, amidst deteriorating economic newsflow. The performance of the sub-fund with respect to underlying markets was largely the result of stock selection, particularly in Mexico and Peru. An overweight exposure to the outperforming Mexican market added value however. In Brazil, an underweight exposure to Vale, one of the largest iron ore producers in the world, added significant value. Vale was divested prior to very poor results, which prompted another wave of earnings downgrades, amidst falling iron ore prices. An underweight exposure to the national oil and gas champion Petrobras also added value over most of the period under review with its share price hit by not only the sharp fall in the oil price but also by a corruption scandal with links to the party of government. This underweight exposure was justified by the government s predilection to meddle in its affairs, using the company as an instrument of economic policy, ignoring the rights of minority shareholders in the process. A very strong performance by Petrobras in June 2015 saw all these gains reversed however following the release of a more realistic five-year business plan containing ambitious asset sale proposals. There remain a host of reasons to avoid the name, including high valuation, high leverage, mismatched currency exposure on their debt, negative free cashflow and likely further production downgrades. Elsewhere, the Mexican airports operator OMA made a positive contribution to performance with its share price trading higher on the back of better than expected passenger numbers travelling through its airport system, buoyed by new routes and an effective price war between airlines. RaiaDrogasil, a Brazilian retailer operating in the resilient area of personal care and health products, also produced market-beating results, growing its market share and showing the benefits of strong management and execution. On the downside, Colombian cement company CEMEX LatAm saw its share price weaken on concerns that ambitious government infrastructure investment plans would be hampered by lower oil revenues despite the fact that the infrastructure projects that will drive growth for the cement company through to 2017 have already been awarded and funding set aside. A small position in Mills cost performance as the Brazilian construction firm suffered from an even sharper slowdown in activity than expected. One new addition to the portfolio was Klabin, a Brazilian paper and packaging company with proven resilience to economic slowdowns and with a flexible export business that will benefit as the real depreciates. With the ramp up of a new low-cost pulp mill, there is high visibility that their 2017 EBITDA will be nearly twice that of 2013, a rare feat in Brazil. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 177 MANULIFE GLOBAL FUND

LATIN AMERICA EQUITY FUND MARKET REVIEW Latin American stockmarkets were generally weaker over the 12 months ending June 2015, underperforming emerging markets as a whole, led by Brazil but with Colombia also suffering marked losses as the price of oil fell sharply over the second half of 2014, with other commodity prices also falling. Mexican shares outperformed, though still losing value, supported by the ongoing reform programme of the Pena Nieto administration as well as by the strength of US economic activity. Local currencies were also generally weaker, not helped by the strength of the US dollar. Most markets ended the period under review on a stronger note however. In Brazil, the early part of the period was dominated by the October presidential election, which the incumbent Dilma Rousseff eventually won by a narrow margin, having initially trailed in the opinion polls. The first Rousseff administration was not seen as market-friendly with its readiness to use statecontrolled companies as an instrument of government and a tendency to intervene across a swath of industries perceived as detrimental to both economic activity as well as stockmarket performance. Although the new administration was initially given the benefit of the doubt, the early part of 2015 still saw two million people take to the streets to vent their frustration at corruption and economic mismanagement. Nevertheless, the new finance minister Joaquim Levy is widely respected and measures already implemented suggest that he appreciates the tough decision making that will be necessary to restore business and investor confidence in the country. Companies active in the education sector had seen their share prices marked down on the back of concerns over the new administration s commitment to the student loan system. Towards the end of the period under review however, new rules were announced which by charging a slightly higher rate and only funding part of the course, have put the whole program on a more sustainable footing. The ongoing car wash corruption scandal at the state-controlled energy giant Petrobras that threatened to embroil the ruling political elite also had a negative impact across the market. The Petrobras share price itself fell sharply over much of the period under review before staging a recovery after the company released a more realistic five-year business plan containing ambitious asset sale proposals. Given high interest rates, high inflation, tax increases and unpopular budget cuts, the Brazilian economy is widely expected to fall into recession in 2015. OUTLOOK Although economic performance over the calendar year 2015 seems likely to disappoint across the region, there are reasons to suppose that the outlook for later years is improving, and this may well help support share prices over the medium term. In Brazil, GDP growth is likely to contract in 2015, but a slow recovery is expected to unfold gradually from the end of the year, driven initially by exports, boosted by the depreciation of the real. Rebuilding confidence in macroeconomic policies remains the priority and some of the actions taken by the new administration are encouraging in this respect, though much more remains to be done with major reforms of the pension, tax and labour systems a priority. The Petrobras corruption scandal has had the positive impact of not just putting the company itself on a more secure footing, but also reducing the temptation of the administration to use state-controlled companies as instruments of government policy. In Mexico, the fruits of the reform process, to which the Pena Nieto administration is committed, are slowly beginning to appear and this trend can be expected to gather pace over the medium term. The initial focus remains firmly on the energy sector as it opens itself up to international participation and the positive consequences that are expected to follow. Investment in infrastructure projects can also be expected to be received positively by the market and the portfolio has been positioned to benefit from such developments. At the same time, the outlook for oil and other commodity prices will continue to be perceived as a major influence on the performance of Latin American markets. Given the weakness seen here over the past 12 months, it may well be that the worst is now over and that the stability of more recent months has laid the foundations for a more benign period in the future. On that score, the outlook for the subfund is positive. MANULIFE GLOBAL FUND 178

RUSSIA EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Ireland 409,795 Dragon Oil plc 3,712,044 4,688,159 4.61 3,712,044 4,688,159 4.61 Kazakhstan 399,189 KazMunaiGas Exploration Production GDR 5,153,683 3,943,987 3.88 160,104 Kcell JSC 1,687,176 1,391,304 1.37 6,840,859 5,335,291 5.25 Russian Federation 3,372,700 Alrosa Company Limited 4,070,159 3,802,132 3.74 71,926 Bashneft Oao 2,358,918 1,818,268 1.79 82,452,217 Eon Russia OJSC 5,333,457 4,492,327 4.41 257,063 Gazprom OAO ADR 1,521,754 1,317,448 1.29 607,839 Gazprom OAO ADR Reg 9,849,240 3,115,175 3.06 452,231 Lenta Limited Reg 5,336,741 3,366,860 3.31 87,343 Lukoil OAO ADR 7,650,349 3,839,162 3.77 122,310 Lukoil OAO ADR 5,565,336 5,374,300 5.29 46,501 Magnit Pjsc Mgnt Ru 7,900,190 9,438,422 9.28 269,624 MMC Norilsk Nickel ADR 4,474,406 4,570,127 4.49 962,337 Mobile Telesystems Ojsc Mtss Rx 3,749,600 4,209,797 4.13 4,860,734 Moscow Exchange Micex 7,951,654 6,016,704 5.91 49,963 NovaTek OAO GDR 3,949,699 5,063,750 4.98 198,973 Phosagro OAO GDR 2,578,277 2,536,906 2.49 5,866,159 Sberbank RF 6,014,788 7,553,519 7.42 6,079,752 Surgutneftegaz JSC Pfd 4,032,311 4,643,373 4.56 89,623 Tatneft ADR 2,754,830 2,850,908 2.80 112,019 Tatneft ADR 3,607,347 3,563,324 3.50 668,543 TMK OAO GDR 6,135,514 2,827,937 2.78 189,807 X 5 Retail Group NV GDR Reg 2,449,235 3,250,445 3.19 97,283,805 83,650,884 82.19 United Kingdom 228,320 Nostrum Oil & Gas plc 2,355,270 2,103,118 2.07 2,355,270 2,103,118 2.07 179 MANULIFE GLOBAL FUND

RUSSIA EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Virgin Islands (British) 188,281 Mail.Ru Group Limited GDR 5,240,320 3,926,600 3.86 5,240,320 3,926,600 3.86 Equities Total 115,432,298 99,704,052 97.98 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 115,432,298 99,704,052 97.98 Portfolio of Investments 115,432,298 99,704,052 97.98 Other Net Assets 2,049,041 2.02 Net Assets 101,753,093 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 180

RUSSIA EQUITY FUND Investment Objective: The sub-fund aims to provide long-term capital growth for those who hold a long term investment view and who are prepared to accept significant fluctuations in the value of their investments in order to achieve long term returns. It is intended that the investments will be made on a diversified basis. The underlying investment portfolio will mainly consist of equity-related investments and securities of companies located in Russia and other companies located outside Russia whose income is predominantly derived from Russia, all of which in accordance with the regulations, are listed or traded on Regulated Markets as referred to in the Prospectus. The sub-fund may also invest in other countries in the Commonwealth of Independent States. The remaining assets of the sub-fund may include bonds, deposits and other investments. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Russia Equity Fund Class AA -26.62% MSCI Russia 10/40 Index +5.95% PORTFOLIO REVIEW The sub-fund suffered a marked fall in value over the 12-month period ending June 2015 with share prices in Russia falling on the back of the lower oil price and continued EU and US sanctions arising from Russia s perceived involvement in the ongoing conflict in Ukraine, with these factors combining to send the rouble lower, interest rates higher, and the economy into recession. A number of portfolio holdings added value however. Shares in Dragon Oil, an oil and gas exploration and production company operating in the Caspian Sea off-shore Turkmenistan, rallied strongly after receiving a takeover approach from Emirates National Oil Company, which already owns 54% of the stock. The bid values the company at GBP 750 per share and although some shareholders have suggested that this undervalues the company, the sub-fund s portfolio manager believes that it represents a fair value for the asset. Dragon was one of the few stocks in the portfolio to see its share price rise over the period under review as it moved closer to the bid price. Oil and gas group Surgutneftegas was another strong performer thanks to a yield of some 20% and a cash position that exceeds its market capitalisation; with the cash held in US dollars, the stock presents a perfect hedge against rouble weakness. The significant underweight exposure to energy giant Gazprom, a company that is likely to destroy shareholder value over the longer term, also continued to provide positive active performance. Gains here were however countered by losses elsewhere in the portfolio with, for example, Russia s largest retailer Magnit running into significant profit taking after a very strong relative performance. Operationally, the company continues to go from strength to strength, benefiting from higher food price inflation and accelerating traffic as customers shift from corner shops and open air markets to discounters. Amongst changes to the portfolio over the period under review, within the telecommunication services sector MegaFon was replaced with MTS, maintaining the portfolio s overall exposure to the mobile sector but taking advantage of the more attractive valuation of MTS and the implied upside. The subfund s portfolio manager attaches zero value to the Ukrainian operations of MTS. MARKET REVIEW Russian equities fell heavily over the final months of 2014, losing more than half their value at one stage, before recovering modestly and finding some stability over more recent months. Nevertheless, share prices in aggregate were still down around 25% over the 12-month period. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 181 MANULIFE GLOBAL FUND

RUSSIA EQUITY FUND The most important factor responsible for this performance was a weaker oil price, with Brent crude falling to below USD 50 a barrel in early 2015, having been close to USD 110 a barrel in mid-2014. This occurred against a backdrop of unfettered supply from oil producers, especially Saudi Arabia, amidst some concern for slowing global economic activity, and hence demand for oil, particularly in China. The Russian economy is heavily dependent upon oil production and this development resulted in a sharp fall in the value of the rouble, to which the central bank responded with significant intervention in the foreign currency market and, given the limited success of this move, a sharp rise in its main policy rate from the prevailing 7.5% to 17.0%. With the fall in the price of oil broadly matched by the depreciation of the rouble, the government s rouble-denominated budget remained broadly in balance however. As the price of oil bounced from its near-term low, to close the period under review above USD 60 a barrel, the central bank was able to reverse some part of its interest rate hike as the rouble recovered somewhat. The Russian economy was also negatively impacted by the imposition of sanctions in the wake of the perceived involvement of Russia in the ongoing conflict in Ukraine, with the shooting down of a Malaysia Airlines civilian passenger jet in July serving to further sour relations with the West. Sanctions remain in force as the conflict has continued, albeit on a reduced scale, despite an agreement between the interested parties to bring about a ceasefire. As a result of these developments it now seems likely that the Russian economy may contract by as much 2% this year, though forecasts made at the turn of the year were considerably more gloomy than this. Most sectors of the market fell heavily in response, with the energy and materials sectors unsurprisingly particularly weaker. There was some strength however in some of the more defensive areas of the market, such as consumer staples, or where certain stocks were, for example, supported by high dividend payments or other factors. OUTLOOK The outlook for the Russian stockmarket depends crucially upon the same factors that were responsible for its disappointing performance over the last 12 months, namely the oil price and the conflict in Ukraine. For oil, a return to the levels prevailing in early 2014, with the price of a barrel of oil above USD 100, seems unlikely over the short term. In any event, Russia will need to adapt to current oil price levels and the depreciation seen in the rouble since the oil price began its slide has been the most important part of this process. Government policy is also unlikely to remain unmoved in this respect. The sanctions imposed by the EU and US on Russia resulting from the perceived involvement of Russia in the conflict in Ukraine is another factor that may help determine economic activity in Russia over the immediate period ahead. Even though the conflict has to a large degree slipped out of the international limelight, the EU and US decided not to lift sanctions this year; they may therefore remain in place for some time. Equally however, they seem unlikely to be extended in the absence of an escalation of the conflict. The worst may therefore be over for Russia, and once the market adjusts fully to the new reality, international investors may return to the market, given the value on offer, though governance concerns, amongst other worries, are likely to remain for the time being. MANULIFE GLOBAL FUND 182

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Supranationals, Governments and Local Public Authorities, Debt Instruments Australia 685,000 New South Wales Treasury Corp. 6.000% 737,449 610,640 1.06 1/May/2020 660,000 Queensland Treasury Corp. 4.000% 596,899 536,099 0.93 21/Jun/2019 70,000 Queensland Treasury Corp. 5.500% 61,438 61,442 0.11 21/Jun/2021 365,000 Queensland Treasury Corp. 6.000% 400,064 284,762 0.50 21/Oct/2015 778,000 Queensland Treasury Corp. 6.000% 815,720 618,427 1.07 21/Apr/2016 2,611,570 2,111,370 3.67 Bermuda 275,000 Bermuda (Govt of) 4.854% 6/Feb/2024 275,172 293,453 0.51 275,172 293,453 0.51 Canada 140,000 Export Developement Canada 3.250% 131,558 109,949 0.19 8/Aug/2017 131,558 109,949 0.19 Mexico 210,000 Mexico (Govt of) 4.600% 23/Jan/2046 217,624 194,319 0.34 22,660 Mexico (Govt of) Bonos 4.750% 14/Jun/2018 170,022 145,433 0.25 55,078 Mexico (Govt of) Bonos 5.000% 15/Jun/2017 475,394 357,846 0.62 44,700 Mexico (Govt of) Bonos 8.000% 7/Dec/2023 409,091 322,972 0.56 17,700 Mexico (Govt of) Bonos 10.000% 5/Dec/2024 146,201 145,137 0.25 1,418,332 1,165,707 2.02 New Zealand 815,000 New Zealand (Govt of) 5.000% 15/Mar/2019 657,405 592,302 1.03 240,000 New Zealand (Govt of) 5.000% 15/Mar/2019 205,178 174,420 0.30 1,000,000 New Zealand (Govt of) 6.000% 15/Dec/2017 826,019 728,140 1.27 55,000 New Zealand (Govt of) 6.000% 15/May/2021 47,016 42,991 0.07 900,000 New Zealand (Govt of) 6.000% 15/May/2021 867,857 703,497 1.22 2,603,475 2,241,350 3.89 Norway 4,665,000 Norway (Govt of) 4.250% 19/May/2017 710,212 633,146 1.10 3,323,000 Norway (Govt of) 4.500% 22/May/2019 643,980 480,068 0.83 1,354,192 1,113,214 1.93 Peru 160,000 Peru (Govt of) 7.350% 21/Jul/2025 207,375 209,488 0.36 207,375 209,488 0.36 183 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Philippines 10,000,000 Philippine (Govt of) 4.950% 15/Jan/2021 228,419 233,971 0.41 30,000,000 Philippine (Govt of) 6.250% 14/Jan/2036 880,929 756,263 1.32 1,109,348 990,234 1.73 Republic of Korea (South) 24,610,000 Korea (Govt of) 0.000% 10/Sep/2015 18,723 21,996 0.04 24,610,000 Korea (Govt of) 0.000% 10/Mar/2016 18,370 21,822 0.04 24,610,000 Korea (Govt of) 0.000% 10/Sep/2016 18,016 21,641 0.04 24,610,000 Korea (Govt of) 0.000% 10/Mar/2017 17,681 21,450 0.04 24,610,000 Korea (Govt of) 0.000% 10/Sep/2017 17,333 21,250 0.04 24,610,000 Korea (Govt of) 0.000% 10/Mar/2018 16,998 21,043 0.04 856,000,000 Korea (Govt of) 0.000% 10/Sep/2018 579,119 723,703 1.26 24,610,000 Korea (Govt of) 0.000% 10/Sep/2018 16,650 20,806 0.04 80,000,000 Korea (Govt of) Treasury Bond 4.000% 76,507 72,882 0.13 10/Mar/2016 4,000,000 Korea (Govt of) Treasury Bond 5.750% 3,634 4,015 0.01 10/Sep/2018 783,031 950,608 1.68 Singapore 670,000 Singapore (Govt of) 2.375% 1/Apr/2017 574,846 510,701 0.89 435,000 Singapore (Govt of) 3.250% 1/Sep/2020 390,460 342,531 0.60 965,306 853,232 1.49 Supranational 110,000 Asian Development Bank 4.625% 6/Mar/2019 81,686 77,624 0.14 255,000 Asian Development Bank 5.000% 9/Mar/2022 237,867 217,732 0.38 260,000 Inter-American Development Bank 6.500% 276,024 230,162 0.40 20/Aug/2019 400,000 International Bank for Reconstruction & 312,411 283,801 0.49 Development 4.625% 6/Oct/2021 1,110,000 International Bank For Reconstruction & 166,624 154,522 0.27 Development 3.625% 22/Jun/2020 245,000 International Bank For Reconstruction & 211,222 173,109 0.30 Development 4.625% 26/Feb/2019 290,000 International Finance Corp. 3.250% 236,340 228,477 0.40 22/Jul/2019 265,000 International Finance Corp. 10.000% 117,892 83,156 0.14 12/Jun/2017 1,640,066 1,448,583 2.52 Sweden 4,435,000 Sweden (Govt of) 1.500% 13/Nov/2023 555,781 565,634 0.98 2,750,000 Sweden (Govt of) 3.500% 1/Jun/2022 393,141 397,802 0.69 3,555,000 Sweden (Govt of) 5.000% 1/Dec/2020 595,875 537,958 0.94 1,544,797 1,501,394 2.61 Thailand 30,700,000 Thailand (Govt of) 3.250% 16/Jun/2017 1,037,000 939,003 1.62 1,037,000 939,003 1.62 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 15,681,222 13,927,585 24.22 MANULIFE GLOBAL FUND 184

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Bonds Australia 135,000 National Australia Bank Limited 6.000% 151,678 109,758 0.19 15/Feb/2017 125,000 Rio Tinto Finance Limited 7.125% 121,027 158,698 0.28 15/Jul/2028 125,000 Rio Tinto Finance Limited 9.000% 163,575 155,648 0.27 1/May/2019 55,000 Westpac Banking Corp. 5.000% 21/Oct/2019 101,499 97,164 0.17 100,000 Westpac Banking Corp. 7.250% 11/Feb/2020 121,053 89,792 0.16 658,832 611,060 1.07 Austria 75,000 JBS Investments GmbH 7.750% 28/Oct/2020 75,000 81,640 0.14 75,000 81,640 0.14 Canada 130,000 Bank of Montreal 0.800% 6/Nov/2015 130,404 130,161 0.23 110,000 Bank of Nova Scotia 2.900% 29/Mar/2016 112,895 111,853 0.19 222,000 Canada Housing Trust No 1 2.750% 233,451 182,019 0.32 15/Jun/2016 117,000 Canadian Imperial Bank 0.900% 1/Oct/2015 117,393 117,116 0.20 205,000 Canadian Imperial Bank 2.350% 11/Dec/2015 208,388 206,611 0.36 155,000 Royal Bank of Canada 2.625% 15/Dec/2015 158,051 156,449 0.27 960,582 904,209 1.57 Colombia 110,000 Bancolombia SA 5.950% 3/Jun/2021 111,571 120,561 0.21 100,000 Ecopetrol SA 5.875% 18/Sep/2023 100,052 104,958 0.18 211,623 225,519 0.39 Germany 300,000 Kreditanstalt fuer Wiederaufbau 6.000% 344,522 264,062 0.46 20/Aug/2020 220,000 Kreditanstalt Fuer Wiederaufbau 6.000% 247,394 173,134 0.30 19/Jan/2016 240,000 Landwirtsch. Rentenbank 6.500% 207,496 198,440 0.35 12/Apr/2017 799,412 635,636 1.11 Mexico 3,690,000 America Movil SAB de CV 7.125% 243,147 231,347 0.41 9/Dec/2024 270,000 Cemex SAB de CV 6.125% 5/May/2025 269,946 266,221 0.46 26,885 Petroleos Mexicanos 7.650% 24/Nov/2021 222,898 176,726 0.31 735,991 674,294 1.18 Netherlands 50,000 E.ON International Finance Bv 6.000% 97,342 90,397 0.16 30/Oct/2019 97,342 90,397 0.16 185 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Singapore 250,000 CapitaMalls Asia Treasury Limited 3.950% 183,486 192,596 0.33 24/Aug/2017 210,000 Oversea-Chinese Banking Corp. Limited FRN 208,740 215,624 0.38 15/Oct/2024 250,000 Temasek Financial 3.265% 19/Feb/2020 184,113 194,274 0.33 500,000 United Overseas Bank Limited FRN 395,835 375,795 0.64 1/Apr/2021 972,174 978,289 1.68 United Kingdom 120,000 Vodafone Group plc FRN 19/Feb/2016 120,114 119,934 0.21 120,114 119,934 0.21 United States 150,000 21st Century Fox America Inc. 6.200% 193,082 174,499 0.30 15/Dec/2034 380,000 Abbott Laboratories 2.950% 15/Mar/2025 365,009 365,858 0.64 160,000 Abbvie Inc. 3.600% 14/May/2025 159,720 158,070 0.27 195,000 American Tower Corp. 4.700% 15/Mar/2022 200,236 203,618 0.36 268,000 Anheuser-Busch Inbev Worldwide Inc. 9.750% 157,638 85,109 0.15 17/Nov/2015 305,000 Apple Inc. 0.450% 3/May/2016 305,526 305,007 0.53 500,000 Apple Inc. 3.200% 13/May/2025 497,845 497,538 0.87 64,000 AT&T Inc. 0.800% 1/Dec/2015 64,009 63,990 0.11 325,000 BAC Capital Trust FRN 29/Sep/2049 279,400 256,651 0.45 375,000 Ball Corp. 4.000% 15/Nov/2023 370,130 348,885 0.62 140,000 Cablevision Systems Corp. 8.000% 148,663 151,941 0.26 15/Apr/2020 165,000 Cablevision Systems Corp. 8.625% 174,908 181,451 0.32 15/Sep/2017 355,000 CBS Corp. 3.500% 15/Jan/2025 354,694 340,350 0.59 200,000 Cemex Finance LLC P.P. 144A 9.375% 236,750 223,851 0.39 12/Oct/2022 65,000 Cemex Finance LLC P.P. 144A 9.375% 65,000 72,752 0.13 12/Oct/2022 275,000 CHS Community Health Systems Inc. 283,906 290,473 0.51 6.875% 1/Feb/2022 190,000 Citigroup Inc. 6.250% 29/Jun/2017 149,283 134,804 0.23 130,000 Coca-Cola Company 1.500% 15/Nov/2015 131,219 130,523 0.23 135,000 Community Health Systems Inc. 7.125% 145,529 142,561 0.25 15/Jul/2020 185,000 Constellation Brands 3.750% 1/May/2021 186,466 182,718 0.32 155,000 Constellation Brands 4.250% 1/May/2023 156,356 153,063 0.27 175,000 Corrections Corp. of America 4.125% 176,488 175,000 0.31 1/Apr/2020 125,000 Crown Cork & Seal Company 7.375% 130,853 139,285 0.24 15/Dec/2026 325,000 Davita Healthcare Partners Inc. 5.125% 325,749 321,491 0.56 15/Jul/2024 105,000 DaVita Healthcare Partners Inc. 5.125% 107,732 103,867 0.18 15/Jul/2024 130,000 Dynegy Inc. 5.875% 1/Jun/2023 121,225 127,725 0.22 MANULIFE GLOBAL FUND 186

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 225,000 Express Scripts Holding Company 3.500% 230,682 219,755 0.38 15/Jun/2024 265,000 Exxon Mobil Corporation 2.709% 6/Mar/2025 264,999 257,223 0.44 225,000 Ford Motor Company 4.750% 15/Jan/2043 220,330 218,750 0.38 100,000 Ford Motor Company 6.625% 1/Oct/2028 124,442 121,358 0.21 128,000 Ford Motor Company 6.625% 1/Oct/2028 132,088 155,338 0.27 215,000 Frontier Communications Corp. 7.125% 220,177 192,206 0.34 15/Jan/2023 130,000 General Electric Capital Corp. 4.250% 109,230 89,817 0.16 17/Jan/2018 45,000 General Electric Capital Corp. 6.250% 90,505 84,196 0.15 29/Sep/2020 220,000 General Motors Financial 4.375% 220,338 227,670 0.40 25/Sep/2021 45,000 Goodyear Tire & Rubber Company 8.750% 48,825 54,225 0.09 15/Aug/2020 235,000 HCA Inc. 5.000% 15/Mar/2024 235,420 239,322 0.42 245,000 HCA Inc. 7.500% 15/Feb/2022 263,457 281,225 0.49 35,000 HCA Inc. 8.000% 1/Oct/2018 36,296 40,797 0.07 260,000 Hewlett-Packard Company 2.650% 265,567 263,435 0.46 1/Jun/2016 242,000 Home Depot Inc. 5.400% 1/Mar/2016 254,797 249,664 0.43 100,000 International Business Machines Corp. 162,701 162,182 0.28 2.750% 21/Dec/2020 18,000 Iron Mountain Inc. 8.375% 15/Aug/2021 18,293 18,675 0.03 70,000 Johnson Companyntrols Inc. 5.500% 73,171 71,701 0.12 15/Jan/2016 315,000 L Brands Inc. 5.625% 15/Oct/2023 337,559 332,712 0.59 240,000 Limited Brands Inc. 6.950% 1/Mar/2033 252,000 252,047 0.44 84,000 Macy s Retail Holdings Inc. 7.875% 86,589 89,629 0.16 15/Aug/2036 190,000 Merck & Company Inc. 2.250% 15/Jan/2016 193,331 191,549 0.33 220,000 Merck & Company Inc. 2.750% 10/Feb/2025 220,200 210,888 0.37 165,000 MetLife Inc. FRN 15/Dec/2036 164,248 181,131 0.32 131,000 Metropcs Wireless Inc. 6.250% 1/Apr/2021 131,766 134,628 0.23 80,000 Metropcs Wireless Inc. 6.625% 1/Apr/2023 80,000 83,066 0.14 195,000 Nisource Finance Corp. 5.650% 1/Feb/2045 208,092 221,683 0.39 130,000 Norfolk Southern Corp. 5.750% 15/Jan/2016 135,870 133,526 0.23 185,000 Oracle Corp. 5.250% 15/Jan/2016 193,453 189,654 0.33 220,000 Pvh Corp. 4.500% 15/Dec/2022 218,755 220,314 0.38 90,000 Regions Financial Corp. 7.375% 10/Dec/2037 78,410 113,325 0.20 110,000 Scripps Networks Interactive Inc. 3.950% 109,791 107,967 0.19 15/Jun/2025 365,000 Synovus Financial Corp. 5.125% 15/Jun/2017 376,360 375,951 0.64 185,000 Tenet Healthcare Corp. 6.000% 1/Oct/2020 188,281 197,044 0.34 150,000 The Men s Wearhouse Inc. 7.000% 154,872 160,500 0.28 1/Jul/2022 70,000 T-Mobile USA Inc. 6.125% 15/Jan/2022 71,225 72,181 0.13 155,000 T-Mobile USA Inc. 6.125% 15/Jan/2022 156,940 159,829 0.28 85,000 T-Mobile USA Inc. 6.836% 28/Apr/2023 85,755 89,078 0.15 135,000 Treehouse Foods Inc. 4.875% 15/Mar/2022 136,778 135,697 0.24 90,000 Tyson Foods Inc. 6.600% 1/Apr/2016 95,851 93,572 0.16 60,000 Unitedhealth Group Inc. 0.850% 15/Oct/2015 60,163 60,061 0.10 187 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 391,000 USB Capital IX FRN 29/Oct/2049 277,904 321,639 0.56 370,000 Wachovia Capital Trust III FRN 29/Aug/2049 334,445 365,497 0.64 225,000 Walgreens Boots Alliance Inc. 3.800% 232,893 220,354 0.38 18/Nov/2024 220,000 Walt Disney Company 1.350% 16/Aug/2016 222,409 221,485 0.39 201,000 Wellcare Health Plans Inc. 5.750% 203,894 209,794 0.36 15/Nov/2020 215,000 Williams Companys Inc. 4.550% 24/Jun/2024 214,437 208,307 0.36 13,681,005 13,631,727 23.74 Virgin Islands (British) 309,000 Arcos Dorados Holdings Inc. 10.250% 130,504 93,437 0.16 13/Jul/2016 130,504 93,437 0.16 Bonds Total 18,442,579 18,046,142 31.41 Equities United States 1,664 Charter Communications Inc. 58,676 282,364 0.49 1,825 Crown Castle 187,283 189,271 0.33 6,507 Dominion Resources Inc. 337,519 312,725 0.55 5,240 Dominion Resources Inc. 259,180 284,218 0.50 3,540 Exelon Corp. 180,814 163,867 0.28 9,800 First Niagara Financial Group Inc. 282,394 265,286 0.46 8,235 GMAC Capital Trust I 224,262 214,028 0.37 10,625 Hartford Financial Services Group Inc. 288,110 317,688 0.55 310 M&T Bank Corp. 320,203 314,649 0.56 2,805 Nextera Energy Inc. 154,358 154,556 0.27 2,450 Nextera Energy Inc. 139,322 151,778 0.26 8,985 Regions Financial Corp. 220,608 225,524 0.39 785 Stanley Black & Decker Inc. 88,116 93,611 0.16 9,665 Synovus Financial Corp. 260,378 268,106 0.47 5,025 Tyson Foods Inc. 252,786 263,461 0.46 3,290 United Technologies Corp. 1/Aug/2015 189,111 191,807 0.33 4,405 US Bancorp 131,610 123,781 0.22 350 US Bancorp 286,750 289,936 0.50 7,095 Wells Fargo & Company 176,589 180,568 0.31 7,161 Wells Fargo & Company Preferred 192,288 197,572 0.34 2,913 Weyerhaeuser Company 145,471 153,806 0.27 4,175 Zions Bancorporation 104,375 115,727 0.20 4,480,203 4,754,329 8.27 Equities Total 4,480,203 4,754,329 8.27 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 38,604,004 36,728,056 63.90 MANULIFE GLOBAL FUND 188

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities (2) Supranationals, Governments and Local Public Authorities, Debt Instruments Canada 785,000 Canada (Govt of) 1.250% 1/Feb/2016 703,558 633,684 1.10 245,000 Canada (Govt of) 1.250% 1/Mar/2018 223,662 200,994 0.35 505,000 Canada (Govt of) 1.500% 1/Feb/2017 414,822 412,416 0.72 1,180,000 Canada (Govt of) 1.500% 1/Mar/2020 985,225 976,211 1.69 290,000 Export Developement Canada 3.500% 244,340 197,736 0.35 20/Feb/2018 230,000 Export Developement Canada 4.875% 182,476 163,610 0.28 24/Jan/2019 140,000 Ontario Canada (Province of) 6.250% 143,536 123,887 0.22 29/Sep/2020 2,897,619 2,708,538 4.71 New Zealand 110,000 Netherlands (Govt of) 6.000% 15/Dec/2017 87,021 79,462 0.14 87,021 79,462 0.14 Philippines 9,186,416 Philippine (Govt of) 5.875% 16/Dec/2020 202,728 227,532 0.40 3,200,000 Philippine (Govt of) 6.500% 28/Apr/2021 78,778 80,794 0.14 281,506 308,326 0.54 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 3,266,146 3,096,326 5.39 189 MANULIFE GLOBAL FUND Mortgage and Asset Backed Securities United States 110,000 Banc of America Commercial Mortgage Inc. 111,609 114,709 0.20 5.675% 10/Jul/2046 140,000 Banc of America Commercial Mortgage Inc. 145,830 145,349 0.25 FRN 10/May/2045 14,106 Bear Stearns Alt-A Trust FRN 25/Sep/2034 13,824 13,755 0.02 40,319 Bear Stearns Alt-A Trust FRN 25/Jan/2035 36,158 39,334 0.07 108,243 Fannie Mae FRN 25/May/2024 108,362 107,468 0.19 112,630 Fannie Mae 4.500% 25/Nov/2039 129,220 22,978 0.04 86,308 Fannie Mae Interest Strip 4.000% 84,703 15,370 0.03 25/Oct/2039 55,883 Fannie Mae Interest Strip 4.000% 48,232 11,559 0.02 25/Nov/2039 127,171 Fannie Mae Interest Strip 4.000% 107,608 24,584 0.04 25/Jan/2041 198,749 Fannie Mae Interest Strip 4.500% 151,920 42,464 0.07 25/Mar/2041 95,573 Fannie Mae Interest Strip 5.000% 25/Mar/2041 48,391 20,028 0.03

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 155,102 Fannie Mae Interest Strip 5.000% 87,223 33,603 0.06 25/Mar/2041 1,262,529 Fannie Mae Remics 3.500% 25/May/2043 224,707 202,257 0.36 160,450 JPMorgan Chase Commercial Mortgage 169,928 168,423 0.29 Securities Corp. FRN 12/Jan/2017 60,000 JPMorgan Chase Commercial Mortgage 64,992 60,870 0.11 Securities Corp. FRN 15/Dec/2015 225,000 JPMorgan Chase Commercial Mortgage 207,192 233,356 0.41 Securities Corp. FRN 15/Apr/2045 190,000 LB-UBS Commercial Mortgage Trust 5.413% 189,763 198,698 0.35 15/Sep/2016 90,950 Merrill Lynch Countrywide Commercial 97,289 93,873 0.16 Mortgage Trust 5.414% 12/Jul/2046 130,000 Merrill Lynch Mortgage Trust FRN 139,874 131,761 0.23 12/Jan/2044 150,000 Morgan Stanley Capital 5.364% 15/Feb/2017 173,449 157,888 0.27 250,000 Stacr FRN 25/Oct/2027 250,000 245,951 0.42 248,282 Washington Mutual FRN 25/Apr/2045 231,573 235,920 0.40 2,821,847 2,320,198 4.02 Mortgage and Asset Backed Securities Total 2,821,847 2,320,198 4.02 Bonds Australia 185,000 Westpac Banking Corp. 3.000% 9/Dec/2015 189,111 186,999 0.33 189,111 186,999 0.33 Canada 170,000 Bank of Nova Scotia FRN 31/Dec/2015 170,338 170,126 0.30 120,000 Bank of Nova Scotia FRN 15/Jul/2016 120,605 120,427 0.21 175,000 Royal Bank of Canada FRN 21/Jun/2016 175,536 175,516 0.31 157,000 Royal Bank of Canada FRN 8/Mar/2016 157,592 157,298 0.27 105,000 Toronto-Dominion Bank FRN 13/Jul/2016 105,036 104,999 0.18 729,107 728,366 1.27 Ireland 285,000 Grifols Worldwide Operations Limited 5.250% 292,374 286,780 0.51 1/Apr/2022 292,374 286,780 0.51 Luxembourg 205,000 Actavis Funding SCS 3.450% 15/Mar/2022 204,709 203,373 0.35 120,000 Actavis Funding SCS 3.800% 15/Mar/2025 119,574 117,734 0.20 324,283 321,107 0.55 Mexico 60,000 Petroleos Mexicanos 6.000% 5/Mar/2020 59,273 67,117 0.12 59,273 67,117 0.12 Singapore 250,000 Hongkong Land Treasury Services Singapore 181,326 195,270 0.34 Pte Limited 3.860% 29/Dec/2017 181,326 195,270 0.34 MANULIFE GLOBAL FUND 190

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States 110,000 Abbvie Inc. FRN 6/Nov/2015 110,430 110,182 0.19 140,000 Abbvie Inc. 1.200% 6/Nov/2015 140,488 140,148 0.24 215,000 Aecom Technology 5.750% 15/Oct/2022 220,354 219,172 0.38 300,000 American International Group Inc. FRN 397,859 398,903 0.69 15/May/2068 186,000 American Water Capital Corp. 3.400% 185,769 185,883 0.32 1/Mar/2025 250,000 Calpine Corp. 5.750% 15/Jan/2025 249,999 243,731 0.42 374,000 CCO Holdings LLC 5.750% 15/Jan/2024 375,344 376,337 0.66 51,000 CCO Holdings LLC 7.000% 15/Jan/2019 53,351 53,040 0.09 100,000 Citigroup Inc. FRN 29/Dec/2049 104,493 98,532 0.17 1 Clear Channel Communications Inc. 14.000% 1 1 0.00 1/Feb/2021 231,000 Coca-Cola Company 1.800% 1/Sep/2016 235,443 233,951 0.40 160,000 Columbia Pipeline Group Inc. P.P. 144A 159,755 158,217 0.28 4.500% 1/Jun/2025 65,000 Community Health Systems Inc. 8.000% 66,625 68,575 0.12 15/Nov/2019 95,000 Cox Companymunications Inc. 5.500% 98,118 96,069 0.17 1/Oct/2015 225,000 Crown Americas LLC 4.500% 15/Jan/2023 219,125 214,995 0.37 33,335 Delta Air Lines Inc. 6.718% 2/Jan/2023 34,002 38,668 0.07 121,025 Delta Air Lines Inc. 6.821% 10/Feb/2024 142,826 139,254 0.24 80,000 Discover Financial Services 5.200% 86,713 86,177 0.15 27/Apr/2022 195,000 Dish Dbs Corp. 5.000% 15/Mar/2023 192,212 180,619 0.31 225,000 Dish Dbs Corp. 7.875% 1/Sep/2019 247,561 249,635 0.43 175,000 Eli Lilly & Company 2.750% 1/Jun/2025 174,662 169,025 0.29 340,000 Fifth Third Bancorp FRN 29/Dec/2049 340,000 317,580 0.55 130,000 First Niagara Financial Group Inc. 7.250% 133,497 145,096 0.25 15/Dec/2021 30,000 Frontier Communications Corp. 9.250% 30,000 31,556 0.05 1/Jul/2021 255,000 GE Capital Corp. 7.125% 29/Dec/2049 270,169 294,256 0.50 405,000 Goodyear Tire & Rubber Company 7.000% 420,007 441,592 0.78 15/May/2022 300,000 HJ Heinz Company 3.950% 15/Jul/2025 300,618 301,507 0.53 210,000 HJ Heinz Company 4.250% 15/Oct/2020 198,475 214,470 0.37 150,000 Host Hotels & Resorts LP 4.750% 160,401 157,554 0.27 1/Mar/2023 204,000 Huntington Ingalls Industries Inc. 7.125% 221,198 217,770 0.38 15/Mar/2021 95,000 Lamar Media Corp. 5.000% 1/May/2023 95,220 94,763 0.16 140,000 Media General Financing Sub Inc. P.P. 144A 141,104 141,400 0.25 5.875% 15/Nov/2022 90,000 Merck & Company Inc. FRN 18/May/2016 90,171 90,067 0.16 105,000 Merrill Lynch & Company FRN 1/Dec/2026 80,850 91,435 0.16 235,000 Micron Technology Inc. 5.875% 15/Feb/2022 243,285 237,484 0.41 120,000 NRG Yield Operating LLC P.P. 144A 5.375% 120,719 121,500 0.21 15/Aug/2024 225,000 Outfront Media Cap LLC 5.625% 15/Feb/2024 228,424 231,302 0.41 100,000 Prudential Financial Inc. 5.875% 15/Sep/2042 103,426 105,935 0.18 191 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 230,000 Qvc Inc. 4.450% 15/Feb/2025 229,898 222,342 0.39 155,000 Qvc Inc. 5.950% 15/Mar/2043 158,408 146,085 0.25 585,000 Tenet Healthcare Corp. 4.375% 1/Oct/2021 565,326 571,837 1.00 98,000 Verizon Companymunications Inc. P.P. 144A 94,500 88,690 0.15 4.272% 15/Jan/2036 380,000 Zebra Technologies Corp. P.P. 144A 7.250% 380,000 411,350 0.71 15/Oct/2022 190,000 Zions Bancorporation FRN 29/Dec/2049 190,000 180,247 0.31 8,290,826 8,316,932 14.42 Bonds Total 10,066,300 10,102,571 17.54 Bonds convertibles United States 60,000 Mgic Investment 2.000% 1/Apr/2020 89,425 100,642 0.18 90,000 WellPoint Inc. 2.750% 15/Oct/2042 128,530 196,594 0.34 217,955 297,236 0.52 Bonds convertibles Total 217,955 297,236 0.52 Equities United States 2,570 Post Holdings Inc. 263,843 263,894 0.46 263,843 263,894 0.46 Equities Total 263,843 263,894 0.46 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities (2) 16,636,091 16,080,225 27.93 Other transferable securities and money market instruments (2) Supranationals, Governments and Local Public Authorities, Debt Instruments Supranational 215,000 Asian Development Bank 3.250% 20/Jul/2017 148,744 145,906 0.25 245,000 International Finance Corp. 3.625% 169,269 166,203 0.29 20/May/2020 318,013 312,109 0.54 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 318,013 312,109 0.54 MANULIFE GLOBAL FUND 192

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Mortgage and Asset Backed Securities United States 63,235 Adjustable Rate Mortgage Trust FRN 58,001 63,026 0.11 25/Apr/2035 115,000 Americold LLC Trust FRN 14/Jan/2029 131,172 131,654 0.23 55,000 AOA FRN 13/Dec/2029 54,733 53,782 0.09 220,000 Applebees Funding LLC 4.277% 5/Sep/2044 220,000 222,351 0.39 112,409 Bear Stearns Adjustable Rate Mortgage Trust 112,971 113,187 0.20 FRN 25/Aug/2035 56,700 Bear Stearns Alt-A Trust FRN 25/Aug/2035 50,746 54,355 0.09 40,000 Bway FRN 10/Mar/2033 36,603 37,005 0.06 33,271 Chase 2007-A1 FRN 25/Feb/2037 33,250 33,380 0.06 338,188 CKE Restaurants Holdings Inc. 4.474% 338,188 343,959 0.59 20/Mar/2020 150,000 Gahr 3.495% 15/Dec/2019 146,261 147,471 0.26 204,000 Greenwich Capital Commercial Funding Corp. 205,209 211,574 0.37 FRN 10/Jun/2016 109,509 GSR Mortgage Loan Trust FRN 25/May/2034 107,130 107,999 0.19 83,239 Harborview Mortgage Loan Trust FRN 77,643 79,036 0.14 20/Jun/2035 55,158 Harborview Mortgage Loan Trust FRN 50,918 50,970 0.09 20/Jun/2035 1,385,382 Harborview Mortgage Loan Trust FRN 144,773 109,099 0.19 19/May/2035 89,433 Harborview Mortgage Loan Trust FRN 79,931 89,571 0.16 19/Jun/2034 101,475 Harborview Mortgage Loan Trust FRN 100,238 101,213 0.18 19/Nov/2034 123,183 Hilt 2013-Hlf Efl H FRN 5/Nov/2030 123,183 123,228 0.21 47,231 Home Equity Asset Trust 1.687% 44,397 45,724 0.08 25/Jun/2033 1,035,045 Indymac Index Mortgage Loan Trust FRN 45,993 34,571 0.06 25/Oct/2036 1,032,046 Indymac Index Mortgage Loan Trust FRN 48,606 78,848 0.14 25/Oct/2036 175,000 JPMorgan Chase Commercial Mortgage 174,125 172,015 0.30 Securities Corp. FRN 15/Jun/2019 76,334 Merrill Lynch Mortgage Investors Inc. FRN 76,964 76,920 0.13 25/Feb/2035 74,886 MLCC Mortgage Investors FRN 25/Oct/2035 72,452 72,854 0.13 39,940 MLCC Mortgage Investors FRN 25/Dec/2034 39,366 40,133 0.07 49,380 MLCC Mortgage Investors FRN 25/Oct/2036 47,220 48,531 0.08 39,245 Morgan Stanley Mortgage Loan Trust FRN 37,871 38,931 0.07 25/Oct/2034 76,366 Opteum Mortgage Acceptance Corp. FRN 69,588 72,232 0.13 25/Nov/2035 106,904 Sonic Capital LLC 5.438% 20/May/2041 120,851 112,131 0.20 69,209 Structured Asset Securities Corp. FRN 67,873 68,282 0.12 25/Dec/2033 2,916,256 2,934,032 5.12 Mortgage and Asset Backed Securities Total 2,916,256 2,934,032 5.12 193 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Bonds United States 126,000 Calpine Corp. P.P. 144A 6.000% 15/Jan/2022 135,408 133,560 0.23 150,000 Endo Finance Company P.P. 144A 5.750% 150,539 153,563 0.27 15/Jan/2022 380,000 Firstenergy Corp. P.P. 144A 4.350% 387,693 390,618 0.68 15/Jan/2025 235,000 Forest Laboratories Inc. P.P. 144A 4.875% 235,000 255,141 0.44 15/Feb/2021 215,000 Forest Laboratories Inc. P.P. 144A 5.000% 216,045 233,834 0.41 15/Dec/2021 170,000 Sealed Air Corp. P.P. 144A 4.875% 170,485 167,875 0.29 1/Dec/2022 95,000 Sealed Air Corp. P.P. 144A 5.125% 95,267 93,993 0.16 1/Dec/2024 140,000 Sealed Air Corp. P.P. 144A 6.500% 157,470 155,428 0.27 1/Dec/2020 65,000 Sirius Xm Radio Inc. P.P. 144A 5.250% 65,696 67,844 0.12 15/Aug/2022 80,000 Sirius Xm Radio Inc. P.P. 144A 5.875% 80,680 82,600 0.14 1/Oct/2020 20,000 Stone + Webster 0.000% 1/Jul/2017 a 0 10 0.00 125,000 Stone Company 0.000% 15/Mar/2017 a 0 63 0.00 10,000 Valeant Pharmaceuticals International Inc. P.P. 9,938 10,425 0.02 144A 7.000% 1/Oct/2020 1,704,221 1,744,954 3.03 Bonds Total 1,704,221 1,744,954 3.03 Equities United States 2,048 Vertis Holdings Inc. a 59,918 0 0.00 59,918 0 0.00 Equities Total 59,918 0 0.00 Total Other transferable securities and money market instruments (2) 4,998,408 4,991,095 8.69 Portfolio of Investments 60,238,503 57,799,376 100.52 Other Net Liabilities (301,520) (0.52) Net Assets 57,497,856 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 194

STRATEGIC INCOME FUND Investment Objective: The sub-fund seeks a high level of current income. In pursuing this goal, the subfund invests primarily in the following types of securities: (i) foreign government and corporate debt securities from developed and emerging markets (ii) U.S. government and agency securities (iii) U.S. high yield bonds The sub-fund may also invest in preferred stock and other types of debt securities. Although the sub-fund may invest up to 10% of its total assets in securities rated in default by Standard & Poor s or Moody s rating agencies (the expression in default in this context refers to securities that have missed one or more scheduled payments of interest or principal or have a rating of D by the rating agencies), it generally intends to keep its average credit quality in the investment grade range (AAA to BBB). There is no limit on the sub-fund s average maturity. PERFORMANCE FROM 1 JULY 2014 TO 30 june 2015* Strategic Income Fund Class AA -1.09% Strategic Income Fund Class HA -1.77% Strategic Income Fund Class HC -2.27% Strategic Income Fund Class HI -1.35% Strategic Income Fund Class I2-0.47% Strategic Income Fund Class S Hedged -8.83% Barclays Capital U.S. Aggregate Bond Index +1.86% Portfolio Review The Sub-fund s short duration position relative to the Index was the largest detractor from performance, as global government rates were generally lower, with the 10-year U.S. Treasury yield falling 18 basis points, from 2.53% to 2.35%. The Sub-fund s sector allocation was also slightly negative, as overweight exposure to high-yield corporate bonds and underweight exposure to U.S. Treasuries detracted. Currency management was a slight detractor from the Sub-fund s return. Adding to performance was the Sub-fund s security selection within its investment-grade corporate bond holdings, where the Sub-fund has been focusing on shorter-maturity issues that are less sensitive to changes in interest rates. Market Review Financial market volatility increased over the past year as a result of heightened geopolitical uncertainty, growth concerns within developed and emerging markets and the risk of a Greek exit from the eurozone. Diverging central bank policy also contributed to an increase in volatility. The U.S. Federal Reserve Board ended its quantitative easing program in late 2014 and signaled its intention to raise its short-term interest rate target for the first time in nearly a decade. This was in stark contrast to the eurozone, which in January announced an aggressive quantitative easing program to stimulate its economy. Global bond markets were mixed during the period. Lower rates across developed markets generally boosted returns from high-quality government bonds, while riskier assets underperformed, including global high-yield and emerging markets debt. The U.S. dollar began a strengthening trend, appreciating approximately 20% versus a basket of developed market currencies. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 195 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Outlook Our Sub-fund s portfolio s manager expect that the U.S. economy will continue to grow at a moderate pace in the year ahead, outperforming most of its developed market peers. We believe that Treasury yields will rise over time. However, external factors, such as foreign economic growth and relative yield levels across developed markets, may keep long-term rates in the U.S. lower for an extended time. Given the absolute level of yields, they will continue to maintain the Sub-fund s slightly lower duration bias. They believe that emerging market government bonds, particularly those in Asia, will offer attractive returns as those economies outperform global averages. They expect that the improving credit metrics within many of the nations in this region will continue their positive trend. In regards to currencies, they believe that continued economic growth in the U.S. and the potential for wider interest rate differentials will continue to be positive for the U.S. dollar, and we will continue to hedge the Sub-fund s foreign currency exposures. Non-Japan Asia offers an attractive relative opportunity set, in our view, and they will generally continue to hold bonds denominated in those currencies hedged with currencies from developed countries with weaker growth outlooks, including the Canadian dollar, euro and Singapore dollar. MANULIFE GLOBAL FUND 196

TAIWAN EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Cayman Islands 39,000 Gourmet Master Company Limited 191,566 188,966 0.59 17,000 Parade Technologies Limited 170,373 198,349 0.61 69,892 Silergy Corp. 530,081 718,068 2.22 258,600 Zhen Ding Technology Holding Limited 635,977 905,172 2.80 1,527,997 2,010,555 6.22 Taiwan 830,000 Advanced Semiconductor Engineering Inc. 910,585 1,124,433 3.48 696,000 Aerospace Industrial Development Corp. 811,400 962,071 2.98 66,000 Asustek Computer Inc. 628,417 642,788 1.99 968,452 Cathay Financial Holding Company Limited 1,325,646 1,691,787 5.24 889,000 Cathay Real Estate Development Company 508,560 491,253 1.52 Limited 300,846 Chinatrust Financial Holding Company Limited 168,398 236,935 0.73 89,000 Chipbond Technology Corp. 177,561 192,395 0.60 627,433 Chunghwa Telecom Company Limited 1,853,835 2,000,974 6.18 58,000 Cleanaway Company Limited 357,645 343,060 1.06 188,000 Ctci Corp. 321,673 304,045 0.94 194,000 Delta Electronics Inc. 1,130,790 993,431 3.07 118,000 Ennoconn Corp. 861,942 1,409,284 4.36 184,000 Far Eastone Telecommunications Company 274,100 444,873 1.38 Limited 385,348 Formosa Plastics Corp. 932,047 906,711 2.81 554,000 Fubon Financial Holding Company Limited 721,851 1,102,446 3.41 1,010,557 Hon Hai Precision Industry Company Limited 2,418,293 3,176,960 9.83 163,569 Hota Industrial Manufacturing Company 287,104 525,886 1.62 Limited 92,000 Huaku Development Company Limited 171,201 199,775 0.62 57,000 Intai Technology Corp. 261,063 253,090 0.78 252,823 Kenda Rubber Industrial Company 532,020 393,312 1.22 5,000 Largan Precision Company Limited 358,339 571,226 1.77 25,658 MediaTek Inc. 287,368 350,925 1.09 215,000 Mega Financial Holding Company Limited 181,759 193,715 0.60 43,000 Momo.com Inc. 400,685 375,583 1.16 42,000 Nan Liu Enterprise Company Limited 183,049 251,826 0.78 52,000 Novatek Microelectronics Corp. Limited 265,907 251,113 0.78 455,000 Orise Technology Company Limited 501,780 516,867 1.60 70,000 Quanta Computer Inc. 177,230 165,615 0.51 92,000 Ruentex Development Company Limited 163,793 145,508 0.45 68,000 Ruentex Industries Limited 165,767 155,594 0.48 1,081,563 Shin Kong Financial Holding Company Limited 345,386 330,204 1.02 761,000 Siliconware Precision Industries Company 896,815 1,165,374 3.61 230,000 Taiwan Mobile Company Limited 728,316 767,793 2.38 706,334 Taiwan Semiconductor Manufacturing 2,005,853 3,216,365 9.95 Company Limited 523,000 Teco Electric & Machinery Company Limited 586,368 405,963 1.26 197 MANULIFE GLOBAL FUND

TAIWAN EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Taiwan (continued) 81,000 Toung Loong Textile Manuf Company 204,211 341,277 1.06 163,156 Turvo International Company Limited 611,302 393,948 1.22 427,000 Uni-President Enterprises Corp. 702,306 756,997 2.34 62,269 Voltronic Power Technology Corp. 388,462 785,056 2.43 1,260,133 Yuanta Financial Holding Company Limited 760,127 682,043 2.11 24,568,954 29,218,501 90.42 Equities Total 26,096,951 31,229,056 96.64 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 26,096,951 31,229,056 96.64 Portfolio of Investments 26,096,951 31,229,056 96.64 Other Net Assets 1,086,845 3.36 Net Assets 32,315,901 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 198

TAIWAN EQUITY FUND Investment Objective: The sub-fund aims to provide long-term capital growth for those who hold a long-term investment view and who are prepared to accept significant fluctuations in the value of their investments in order to achieve long-term returns. It is intended that the investments will be made on a diversified basis. The underlying investment portfolio will mainly consist of equity-related investments and equities of companies that are listed on any stock exchange in Taiwan; or companies covering the different sectors of the economy in Taiwan and which are listed on any stock exchange; or companies that derive a significant portion of their earnings from Taiwan. The sub-fund may also invest in convertible bonds and depositary receipts issued by such companies, debt obligations of the Government of Taiwan, collective investment schemes and closed-end funds. The remaining assets of the sub-fund may include bonds, deposits and other investments. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Taiwan Equity Fund Class AA +6.64% Taiwan TAIEX Index -3.94% PORTFOLIO REVIEW The sub fund posted a positive return of 6.64% over the review period while the benchmark TAIEX delivered marginally flat performance of -0.5%. The strong relative performance was mainly attributable to positive stock selection in the information technology, consumer discretionary and industrials sectors. However, the sub fund s underweight positon in the energy sector and negative stock selection in the healthcare sector were the key detractors to performance. Amongst the key contributors over the period was Hota Industrial Manufacturing, a leading designer and manufacturer of automotive transmission systems. Its shares surged on further margin upside, mainly driven by the company s increasing adoption of automation and a higher-than-expected utilisation rate. Further contribution came from power integrated circuits (ICs) manufacturer Silergy, which gained on upbeat results for the fourth quarter of 2014 and the management s positive guidance for 2015 mainly driven by its favourable product mix, solid R&D capabilities and robust earnings growth. Another key contributor was the industrial PC (IPC) arm of Hon Hai Precision, Ennoconn Corp. Its shares surged on solid growth momentum driven by the company s diversified product portfolio and post-merger synergies. Conversely, the leading detractor over the period was Turvo International, a precision metal components manufacturer. The stock was sold down on concerns over downbeat auto sales in the European market as well as rumours that inventory levels of the company s major customer were high. Integrated circuits (IC) producer On-Bright Electronics was another key detractor after its share price declined on weaker-thanexpected second quarter sales. Its smartphone inventory correction in China and the company s strategy of selecting high-margin LED lighting were amongst the main drivers of its revenue miss. Another key detractor was auto parts and accessories manufacturer Tong Yang Industry, which saw its share price fall on the back of foreign exchange losses and a delay in mass production at a new plant in China. In terms of portfolio activities, the sub-fund s portfolio manager selectively took profits in companies in Apple s supply chain, and consequently deployed proceeds in select mid-cap names including industrial PCs and auto components. Whilst dividend yields remain relatively attractive, the sub-fund s portfolio manager selectively added big-cap electronic names with attractive valuations. Elsewhere, the sub-fund s portfolio manager has maintained the overweight position in the telecoms sector in light of a more benign and stable industry environment although valuations have become rich despite decent dividend yield support. The sub fund continues to stay away from deep cyclicals, such as steel and chemicals, as overcapacity in the industry is coupled with a deteriorating operating environment. Furthermore, valuations are unattractive. The sub fund is also underweight banks as anaemic loan growth and intensifying competition bode poorly for their ROEs. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 199 MANULIFE GLOBAL FUND

TAIWAN EQUITY FUND MARKET REVIEW Taiwanese equities delivered marginally flat return over the review period, although this masked a high level of volatility. The market ended the second half of 2014 lower, dragged down by marked losses in the third quarter with the information technology sector rally losing steam following outperformance and subsequent profit-taking. The Taiwan market finished the first quarter of 2015 up as strong momentum for Apple suppliers continued to support sentiment for the island s technology sector. The market moved higher, helped by loose monetary policies pursued by central banks globally as net foreign buyers bolstered the heavily-weighted technology sector as well as financials stocks. After hitting a 15-year high in April, Taiwanese equities retreated for two consecutive months in May and June as the prospect of a Grexit and a sharp correction in China s A-shares markets weighed on investor sentiment in the broader Greater China region. OUTLOOK With a recovering US economy and new product launches by Apple, Taiwan s technology component makers are benefiting from their pivotal roles in the global electronics supply chain as evidenced by upbeat first half sales on the back of resilient demand for Apple handsets. This has provided support for companies in Apple s supply chain. On the other hand, PC sales have, in line with expectations, been disappointing this year following strong demand last year. After a major earnings upgrade in 2014 led by technology stocks, earnings momentum will likely moderate to a mid-single digit growth rate in 2015. A disappointing local election result for the ruling KMT party last November could further escalate political uncertainties going forward, with implications for Sino-Taiwan relations. We continue to find interesting stock ideas within the mid-cap segment and will look for opportunities to add selectively at attractive valuations. Areas of interest include industrial PCs, auto parts, aviation components, IC design houses and Apple component suppliers. In the long term, we continue to maintain our bottom-up stock selection approach and valuation discipline, with a focus on seeking out investment opportunities in companies with professional management, strong cash flows and dividend support. MANULIFE GLOBAL FUND 200

Turkey Equity Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Turkey Transferable securities and money market instruments admitted to an official exchange listing (1) Equities 7,839 Adel Kalemcilik Ticaret Ve Sanayi AS 191,421 205,569 0.50 984,361 Akbank TAS 3,137,432 2,839,609 6.96 800,906 Aksa Enerji Uretim AS 1,340,629 865,836 2.12 294,044 Arcelik AS 1,661,389 1,572,942 3.86 78,628 Aselsan Elektronik Sanayi Ve Ticaret AS 248,367 407,395 1.00 103,394 Bim Birlesik Magazalar AS 2,148,656 1,846,529 4.53 244,875 Brisa Bridgestone Sabanci Sanayi Ve Ticaret 816,788 794,182 1.95 AS 100,583 Coca-Cola Icecek AS 2,225,355 1,663,926 4.08 1,573,661 Emlak Konut Gayrimenkul Yatirim Ortakligi AS 1,980,462 1,613,092 3.95 565,262 Enka Insaat ve Sanayi AS 1,159,902 1,067,029 2.62 359,447 Haci Omer Sabanci Holding AS 1,622,136 1,349,655 3.31 1,422,233 Is Gayrimenkul Yatirim Ortakligi AS 831,754 863,038 2.12 3,021,277 Kardemir Karabuk Demir 2,116,512 1,776,957 4.36 87,766 Pegasus Hava Tasimaciligi AS 997,449 797,232 1.95 294,973 Tav Havalimanlari Holding AS 1,861,618 2,470,134 6.04 276,834 Tofas Turk Otomobil Fabrik 1,607,161 1,860,791 4.56 771,062 Trakya Cam Sanayi AS 1,029,737 801,900 1.97 49,893 Tupras-Turkiye Petrol Rafinerileri 1,177,177 1,259,948 3.09 405,020 Turk Hava Yollari 1,061,188 1,330,204 3.26 31,758 Turk Traktor ve Ziraat Makineleri AS 853,147 817,995 2.00 311,352 Turkcell Iletisim Hizmet AS 1,743,760 1,444,621 3.54 1,238,675 Turkiye Garanti Bankasi AS 4,893,410 3,864,644 9.46 1,452,954 Turkiye Is Bankasi 3,729,619 3,062,820 7.51 1,953,698 Turkiye Sinai Kalkinma Bankasi AS 1,329,891 1,243,906 3.05 1,808,748 Turkiye Vakiflar Bankasi Tao 3,437,399 2,894,240 7.09 1,258,296 Yapi Ve Kredi Bankasi AS 2,794,474 1,844,286 4.52 45,996,833 40,558,480 99.40 Equities Total 45,996,833 40,558,480 99.40 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 45,996,833 40,558,480 99.40 Portfolio of Investments 45,996,833 40,558,480 99.40 Other Net Assets 242,872 0.60 Net Assets 40,801,352 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. 201 MANULIFE GLOBAL FUND

Turkey Equity Fund Investment Objective: The sub-fund aims to provide long term capital growth for those who hold a long term investment view and who are prepared to accept significant fluctuations in the value of their investments in order to achieve long term returns. It is intended that the investments will be made on a diversified basis. The underlying investment portfolio will mainly consist of equity-related investments and securities of companies located in Turkey and other companies located outside Turkey whose income is predominantly derived from Turkey, all of which in accordance with the regulations, will be listed or traded on Regulated Markets as referred to in the Prospectus. The remaining assets of the subfund may include bonds, deposits and other investments. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* Turkey Equity Fund Class AA -17.67% MSCI Turkey 10/40 Index -14.26% PORTFOLIO REVIEW Against a backdrop of political uncertainty, the sub-fund weakened in value over the period under review. The ruling AK Party, which had presided over a benign period of economic prosperity since coming to power in 2002, failed to win an outright victory in parliamentary elections in June 2015. The make-up of any new government is now subject to coalition negotiations, whilst there remains the possibility of fresh elections. The performance of the sub-fund was supported by several of its holdings of consumer-related stocks, including overweight positions in the car group Tofas and the airports operator TAV. Both saw their share prices rise over the period under review, bucking the wider market trend, with the latter supported by better than expected operating figures as well as a positive dividend surprise. Economic newsflow remained generally supportive with activity in Turkey continuing to show robust growth, in contrast to many other economies in Europe. Much of the relative downside of the sub-fund s performance over the period came from not owning companies whose share prices performed relatively well. The most significant portfolio holding to drag on performance was the steelmaker Kardemir. The sub-fund s portfolio manager prefers the domestically-orientated Kardemir to its more export-focused peer Erdemir as the former has a superior structural longer term growth story, offering an attractive growth profile with an increasing share of value-added products at almost half the trading multiples of other steelmakers. The fall in the value of the lira was an obvious benefit to Erdemir however, with Kardemir losing out as a result. Amongst notable changes to the portfolio during the period under review, within the financials sector, the position in Halkbank was divested and replaced with VakifBank. This move was triggered by an increasingly negative view on Halkbank s earnings outlook due to an expected higher loan loss provisioning. On the other hand, VakifBank s earnings outlook seems to be improving, with better margin and fee income outlook. The decision to divest Halkbank subsequently supported relative performance with the stock falling sharply in the wake of a surprise rights issue to support the establishment of a participation bank subsidiary. MARKET REVIEW The Borsa Istanbul held up relatively well in comparison to other emerging markets, but still closed the period under review with substantial losses despite a broadly favourable economic backdrop. Much of this weakness, in US dollar terms, could be ascribed to the fall in the value of the lira against the dollar, with share prices essentially flat in local currency terms. The fall in the price of oil, the main macroeconomic development of the 12-month period, benefits Turkey which has little domestic production of its own and imports the overwhelming majority of its energy requirement. The downward pressure on inflation that resulted enabled the central bank to implement a number of reductions in interest rates. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 202

Turkey Equity Fund Financial markets, including the currency market with the lira also seeing a marked depreciation over the period under review, were however more focused on political, rather than economic, developments. There were two key elections for the markets to consider. In August 2014, Recep Tayyip Erdogan, previously the prime minister and the leader of the ruling AK Party, became Turkey s first directly elected president. This outcome was widely expected and discounted in the markets. At the time, it seemed to herald a move towards a more executive presidency, with Erdogan thereby maintaining his grip on power. In order to effect such a change however, the AK Party would need to win a convincing victory in the June 2015 parliamentary elections, sufficient to enable it to change the current essentially apolitical role of the president within Turkey s constitution. In the event, concerns surrounding Erdogan s increasingly autocratic style saw minor parties gain sufficient support to secure parliamentary representation thereby depriving the AK Party not only of a majority large enough to change the constitution but also of an outright victory itself. The fact that the AK Party still received more than 40% of the vote and won over 100 seats more than the next largest party in the 550 seat assembly does however show how strong popular support for the party remains, thanks to the prosperity and economic gains that Turkey has enjoyed since the AK Party first came to power in 2002. At the end of the period under review, the make-up of any new government remained uncertain with coalition negotiations underway. If these negotiations fail, there would need to be a re-run of the general election. The general weakness of share prices over the past 12 months reflects to a large extent this political uncertainty. An ongoing solid economic performance was likewise reflected in the strong relative performance of several consumer-related stocks, where operational results continued to impress. OUTLOOK Turkey is currently in a period of political uncertainty with the make-up of the next government unclear, and a re-run of the recent general election still a possibility. A grand coalition between the Justice and Development Party (AKP) and its main rival, the Republican People s Party (CHP), has become the base case scenario in Ankara. While it is being suggested that President Erdogan and his supporters within the AKP are strongly in favour of repeat elections, Prime Minister Davutoglu seems keen on doing his best to clinch a coalition deal. This will be a test of leadership for Davutoglu as he will both have to sell the coalition idea to some factions within his party and also keep President Erdogan content with the outcome. If he comes through successfully, the outcome could be a reformist minded and potentially long lasting coalition government. Previous coalition governments in Turkey have had their problems but in this instance a coalition could be welcomed by the financial markets as it would help to curb President Erdogan s ambitions to turn the presidency into an executive office. Although this political uncertainty will most likely dominate the financial markets in Turkey over the summer months, over the longer term it is the economic backdrop and the operational progress of Turkish companies that should set share prices. In this respect, the outlook is encouraging. Although the outlook for the oil price is a further uncertainty, a return to levels prevailing in early 2104 seems unlikely and the current lower levels are of obvious benefit to Turkey. Not only will they help narrow the current account deficit, one are of concern for the global investment community, but they will also make the central bank more inclined to cut interest rates. The Turkish economy is a vibrant one, full of investment opportunities, and the outlook is positive. 203 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Mortgage and Asset Backed Securities United States 240,000 Citibank Credit Card Issuance Trust 5.650% 20/Sep/2019 270,898 262,968 0.18 270,898 262,968 0.18 Mortgage and Asset Backed Securities Total 270,898 262,968 0.18 Bonds Bermuda 105,000 Aircastle Limited 5.500% 15/Feb/2022 105,000 107,858 0.07 100,000 Aircastle Limited 6.250% 1/Dec/2019 109,625 109,520 0.07 214,625 217,378 0.14 Brazil 250,000 Banco do Brasil SA FRN 29/Oct/2049 206,598 176,494 0.12 206,598 176,494 0.12 Canada 175,000 Pacific Rubiales Energy Corp. 5.375% 174,974 145,182 0.10 26/Jan/2019 174,974 145,182 0.10 Cayman Islands 225,000 Mizuho Financial Group Cayman 3 Limited 224,447 230,916 0.16 4.600% 27/Mar/2024 224,447 230,916 0.16 Colombia 100,000 Ecopetrol SA 5.875% 18/Sep/2023 99,033 104,958 0.07 99,033 104,958 0.07 France 150,000 AXA SA 8.600% 15/Dec/2030 173,725 202,185 0.14 235,000 Credit Agricole SA FRN 29/Sep/2049 235,000 229,315 0.15 200,000 Credit Agricole SA FRN 29/Jan/2049 205,750 205,322 0.14 115,000 Electricite de France SA FRN 29/Jan/2049 113,899 115,775 0.08 200,000 Societe Generale FRN 29/Sep/2049 207,000 210,550 0.14 935,374 963,147 0.65 Guernsey Channel Islands 168,123 Doric Nimrod Air Finance Alpha Limited 176,949 177,994 0.12 5.125% 30/Nov/2024 176,949 177,994 0.12 Israel 250,000 Israel Electric Corp. 5.625% 21/Jun/2018 250,000 267,978 0.18 250,000 267,978 0.18 Japan 200,000 Softbank Corp. 4.500% 15/Apr/2020 200,000 200,864 0.14 200,000 200,864 0.14 MANULIFE GLOBAL FUND 204

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Luxembourg 200,000 Millicom International Cell 6.625% 219,000 206,122 0.14 15/Oct/2021 200,000 Telecom Italia Capital SA 6.999% 4/Jun/2018 215,229 221,073 0.15 155,000 Telecom Italia Capital SA 7.200% 18/Jul/2036 158,681 167,911 0.11 592,910 595,106 0.40 Mexico 200,000 Cemex SAB de CV 6.500% 10/Dec/2019 200,000 210,700 0.14 235,000 Credito Real SAB de CV 7.500% 13/Mar/2019 237,350 248,018 0.17 120,000 Petroleos Mexicanos 4.875% 24/Jan/2022 118,943 124,690 0.08 200,000 Sixsigma Networks Mexico SA de CV 8.250% 200,000 208,571 0.14 7/Nov/2021 200,000 Tenedora Nemak SA 5.500% 28/Feb/2023 209,500 205,624 0.14 965,793 997,603 0.67 Netherlands 250,000 Lukoil International Finance BV 3.416% 250,000 240,469 0.16 24/Apr/2018 385,000 Shell International Finance BV 4.375% 384,233 380,096 0.26 11/May/2045 634,233 620,565 0.42 United Kingdom 100,000 HBOS plc 6.750% 21/May/2018 114,203 111,179 0.08 115,000 International Game Tech 6.500% 15/Feb/2025 115,000 107,012 0.07 195,000 Lloyds Banking Group plc FRN 30/Apr/2049 206,944 201,621 0.14 436,147 419,812 0.29 United States 100,000 21st Century Fox America Inc. 6.150% 96,413 115,128 0.08 1/Mar/2037 75,000 21st Century Fox America Inc. 6.400% 74,654 89,272 0.06 15/Dec/2035 285,000 Abbvie Inc. 3.600% 14/May/2025 284,501 281,563 0.18 110,000 Access Midstream Partners LP 4.875% 112,988 108,931 0.07 15/May/2023 360,000 Access Midstream Partners LP 4.875% 15/ 368,554 357,211 0.24 Mar/2024 15,000 Air Lease Corp. 3.375% 15/Jan/2019 15,375 15,304 0.01 115,000 Air Lease Corp. 3.875% 1/Apr/2021 114,772 116,150 0.08 120,000 Air Lease Corp. 4.750% 1/Mar/2020 122,100 128,100 0.09 340,000 Allegheny Technologies Inc. 9.375% 413,945 402,901 0.27 1/Jun/2019 390,000 Ally Financial Inc. 5.125% 30/Sep/2024 382,531 391,943 0.27 120,000 American Tower Corp. 3.400% 15/Feb/2019 119,893 123,037 0.08 190,000 American Tower Corp. 4.700% 15/Mar/2022 189,857 198,397 0.13 170,000 AT&T Inc. 4.750% 15/May/2046 169,395 155,011 0.10 145,000 Avalonbay Communities 3.450% 1/Jun/2025 144,742 142,940 0.10 341,000 BAC Capital Trust FRN 29/Sep/2049 266,863 269,286 0.18 70,000 Bank of America Corp. 3.950% 21/Apr/2025 69,794 67,630 0.05 415,000 Bank of America Corp. 5.000% 13/May/2021 466,679 456,753 0.31 165,000 Bear Stearns Companies Inc. 7.250% 168,941 187,135 0.13 1/Feb/2018 120,000 Boyd Gaming Corp. 6.875% 15/May/2023 120,000 122,814 0.08 205 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 250,000 Capital One Financial Corp. 2.450% 250,230 250,324 0.17 24/Apr/2019 265,000 Cimarex Energy Company 4.375% 1/Jun/2024 269,001 261,021 0.18 295,000 Citigroup Inc. 4.500% 14/Jan/2022 313,827 316,907 0.21 125,000 CNA Finance Corp. 7.250% 15/Nov/2023 140,383 151,099 0.10 55,000 Cno Financial Group Inc. 5.250% 55,000 56,100 0.04 30/May/2025 140,000 Commercial Metals Company 7.350% 144,821 151,467 0.10 15/Aug/2018 185,000 Constellation Brands 4.250% 1/May/2023 183,960 182,688 0.12 105,000 Constellation Brands 4.750% 15/Nov/2024 105,725 105,728 0.07 410,000 Continental Resources Inc. 5.000% 428,124 404,011 0.28 15/Sep/2022 474,000 Delphi Corp. 5.000% 15/Feb/2023 505,995 507,043 0.34 195,000 Discover Financial Svs 3.950% 6/Nov/2024 199,312 189,134 0.13 180,000 Energy Transfer Partners LP 5.150% 181,657 158,951 0.11 15/Mar/2045 190,000 Energy Transfer Partners LP 9.700% 219,629 234,565 0.16 15/Mar/2019 75,000 Ford Motor Company 4.750% 15/Jan/2043 75,950 72,917 0.05 45,000 Ford Motor Credit Company LLC 5.875% 50,925 51,249 0.03 2/Aug/2021 1,018,000 Ford Motor Credit Company LLC 5.875% 1,152,989 1,159,376 0.79 2/Aug/2021 155,000 General Electric Capital Corp. 5.550% 183,690 176,688 0.12 4/May/2020 160,000 General Motors Financial 4.375% 160,000 165,579 0.11 25/Sep/2021 235,000 General Motors Finl Company 3.450% 234,537 229,590 0.16 10/Apr/2022 360,000 Goldman Sachs Capital II FRN 29/Dec/2049 266,269 273,263 0.18 830,000 Goldman Sachs Group Inc. 5.250% 924,260 924,017 0.61 27/Jul/2021 55,000 Goldman Sachs Group Inc. 5.750% 62,904 62,536 0.04 24/Jan/2022 90,000 Harman Intl Ind 4.150% 15/May/2025 89,402 89,046 0.06 165,000 HCA Inc. 7.500% 15/Feb/2022 165,000 189,397 0.13 170,000 Highwoods Realty Limited 5.850% 191,865 181,767 0.12 15/Mar/2017 220,000 Iron Mountain Inc. 5.750% 15/Aug/2024 218,850 218,177 0.15 240,000 Iron Mountain Inc. 6.000% 15/Aug/2023 239,875 251,534 0.18 70,000 Istar Financial Inc. 5.000% 1/Jul/2019 70,000 68,775 0.05 195,000 Jefferies Group Inc. 8.500% 15/Jul/2019 241,315 232,949 0.16 500,000 JPMorgan Chase & Company 4.625% 562,219 541,792 0.37 10/May/2021 210,000 JPMorgan Chase & Company FRN 210,000 201,121 0.14 29/Dec/2049 325,000 JPMorgan Chase & Company FRN 338,320 343,935 0.23 29/Dec/2049 180,000 Kerr-Mcgee Corp. 6.950% 1/Jul/2024 201,274 218,316 0.15 85,000 Kinder Morgan Energy Partners LP 7.750% 81,782 97,754 0.07 15/Mar/2032 190,000 Kinder Morgan Inc. 5.550% 1/Jun/2045 200,329 176,147 0.12 MANULIFE GLOBAL FUND 206

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 355,000 Leucadia National Corp. 5.500% 18/Oct/2023 350,176 363,518 0.25 310,000 LTD Brands Inc. 6.625% 1/Apr/2021 334,413 343,390 0.23 223,000 Macy's Retail Holdings Inc. 7.875% 237,920 237,943 0.16 15/Aug/2036 85,000 MarkWest Energy Partners LP 4.875% 86,381 83,725 0.06 1/Dec/2024 150,000 Medco Health Solutions Inc. 7.125% 179,489 171,015 0.12 15/Mar/2018 330,000 Merrill Lynch & Company Inc. 6.875% 352,352 372,752 0.25 25/Apr/2018 50,000 Merrill Lynch & Company Inc. 6.875% 60,763 56,478 0.04 25/Apr/2018 190,000 MetLife Inc. FRN 15/Dec/2036 208,638 208,575 0.14 95,000 Metropcs Wireless Inc. 6.250% 1/Apr/2021 95,000 97,631 0.07 250,000 MGM Resorts International 6.000% 250,000 253,694 0.17 15/Mar/2023 115,000 Morgan Stanley 4.300% 27/Jan/2045 114,138 107,084 0.07 255,000 Morgan Stanley 5.500% 26/Jan/2020 297,070 284,957 0.19 80,000 Mplx LP 4.000% 15/Feb/2025 79,845 78,093 0.05 145,000 MPT Operating Partnership LP 6.375% 145,000 154,244 0.10 15/Feb/2022 145,000 Newfield Exploration Company 5.750% 146,089 147,430 0.10 30/Jan/2022 81,000 Plains Exploration & Production Company 89,955 87,075 0.06 6.875% 15/Feb/2023 50,000 Regency Energy Partners LP 5.000% 49,579 51,643 0.03 1/Oct/2022 45,000 Regency Energy Partners LP 5.875% 44,290 48,122 0.03 1/Mar/2022 180,000 Reynolds American 4.450% 12/Jun/2025 179,455 183,031 0.12 300,000 Rockwood Specialties Group Inc. 4.625% 314,625 311,753 0.20 15/Oct/2020 180,000 Rowan Companies Inc. 4.875% 1/Jun/2022 196,213 178,711 0.12 200,000 Scripps Networks 3.950% 15/Jun/2025 199,620 196,303 0.13 310,000 Sesi LLC 7.125% 15/Dec/2021 341,774 328,600 0.21 115,000 Synovus Financial Corp. 7.875% 15/Feb/2019 117,499 129,806 0.09 195,000 Time Warner Cable Inc. 8.250% 1/Apr/2019 253,050 229,519 0.16 80,000 T-Mobile USA Inc. 6.125% 15/Jan/2022 81,925 82,492 0.06 155,000 Ventas Realty LP 3.750% 1/May/2024 155,673 152,640 0.10 245,000 Ventas Realty LP 4.750% 1/Jun/2021 250,416 265,841 0.18 132,000 Verizon Communications Inc. 6.550% 131,846 154,988 0.10 15/Sep/2043 30,000 Verizon Communications Inc. 6.550% 38,812 35,225 0.02 15/Sep/2043 140,000 Vulcan Materials Company 4.500% 140,000 140,035 0.09 1/Apr/2025 160,000 Wellcare Health Plans Inc. 5.750% 162,475 167,000 0.11 15/Nov/2020 240,000 Zimmer Biomet Holdings 3.550% 1/Apr/2025 239,436 232,255 0.16 18,545,333 18,560,037 12.51 207 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Virgin Islands (British) 215,000 Cnooc Finance 2013 Limited 3.000% 9/May/2023 197,551 203,484 0.14 197,551 203,484 0.14 Bonds Total 23,853,967 23,881,518 16.11 Bonds convertibles United States 108 Wells Fargo & Company 7.500% 31/Dec/2049 139,995 127,694 0.09 139,995 127,694 0.09 Bonds convertibles Total 139,995 127,694 0.09 Equities United States 4,862 Dominion Resources Inc. 250,072 233,668 0.16 2,224 Exelon Corp. 111,200 102,949 0.07 4,500 FNB Corp. 112,500 126,225 0.09 13,207 GMAC Capital Trust I 357,395 343,250 0.23 7,251 Regions Financial Corp. 181,275 182,001 0.11 3,022 United Technologies Corp. 1/Aug/2015 153,452 176,183 0.12 1,165,894 1,164,276 0.78 Equities Total 1,165,894 1,164,276 0.78 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 25,430,754 25,436,456 17.16 Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities (2) Supranationals, Governments and Local Public Authorities, Debt Instruments Argentina 200,000 Buenos Aires (City of) 9.950% 1/Mar/2017 200,000 208,086 0.14 200,000 208,086 0.14 United States 100,000 Federal Home Loan Banks 2.900% 95,760 98,665 0.07 5/Sep/2025 105,000 Federal Home Loan Banks 3.170% 99,750 102,110 0.07 4/Oct/2027 139,394 Federal Home Loan Banks 3.250% 21/Jun/2027 133,733 139,590 0.09 MANULIFE GLOBAL FUND 208

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 505,000 State of Hawaii Department of Business Economic Development & Tourism 1.467% 1/Jul/2022 750,000 United States Treasury Inflation Indexed Bonds 0.250% 15/Jan/2025 3,190,000 United States Treasury N/B 0.875% 15/Oct/2017 3,000,000 United States Treasury N/B 1.000% 15/May/2018 1,695,000 United States Treasury N/B 2.125% 15/May/2025 6,500,000 United States Treasury N/B 2.500% 15/Feb/2045 2,590,000 United States Treasury N/B 3.125% 15/Feb/2042 504,873 504,056 0.34 742,785 736,787 0.50 3,193,900 3,196,978 2.16 2,999,297 3,002,813 2.03 1,682,782 1,662,292 1.12 5,890,849 5,718,984 3.87 2,610,945 2,604,164 1.76 17,954,674 17,766,439 12.01 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 18,154,674 17,974,525 12.15 Mortgage and Asset Backed Securities United States 385,000 Ally Auto Receivables Trust 1.840% 384,961 388,955 0.26 15/Jan/2020 145,000 Ally Master Owner Trust 1.720% 15/Jul/2019 146,064 146,092 0.10 405,000 American Express Credit Account Master 405,021 406,365 0.27 Trust 1.430% 15/Jun/2020 400,000 American Express Credit Account Master 399,984 402,413 0.27 Trust 1.490% 15/Apr/2020 400,000 Amot 1.630% 15/May/2020 399,961 400,352 0.27 590,000 BACCT FRN 15/Sep/2020 589,929 589,357 0.40 115,000 Bbcms FRN 15/Feb/2028 115,000 114,907 0.08 690,000 Capital One Multi-asset Execution Trust 691,072 693,407 0.47 1.480% 15/Jul/2020 350,000 CarMax Auto Owner Trust 1.330% 349,914 350,119 0.24 17/Jun/2019 160,000 Carmx 1.800% 15/Mar/2021 159,958 160,223 0.11 695,000 Chait 1.350% 15/Apr/2020 694,877 694,431 0.47 435,000 Chait 1.590% 18/Feb/2020 434,979 437,223 0.30 284,000 Chase Issuance Trust 1.260% 15/Jul/2019 283,891 284,714 0.19 470,000 Chase Issuance Trust 1.380% 15/Nov/2019 469,945 471,683 0.32 500,000 Citibank Credit Card Issuance Trust 1.730% 499,930 503,455 0.34 9/Apr/2020 3,000,575 Commercial Mortgage Pass Through 237,820 193,992 0.13 Certificates FRN 10/Feb/2047 150,000 Commercial Mortgage Pass Through 155,889 166,778 0.11 Certificates 4.934% 10/Feb/2022 290,000 Commercial Mortgage Pass Through 296,457 303,411 0.21 Certificates FRN 10/Apr/2047 470,000 Commercial Mortgage Pass Through 496,141 524,883 0.34 Certificates FRN 10/Sep/2023 325,000 Crart 1.750% 15/Jan/2021 324,983 324,900 0.22 209 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 215,000 CRART 1.840% 15/Jun/2020 215,144 216,462 0.15 605,000 Discover Card Execution Note Trust 1.390% 604,910 606,475 0.41 15/Apr/2020 1,793,939 Fannie Mae 3.500% 1/May/2042 1,882,515 1,853,678 1.25 2,025,899 Fannie Mae 3.500% 1/Jul/2043 2,122,129 2,092,869 1.41 2,919,802 Fannie Mae 3.500% 1/Apr/2045 3,079,935 3,016,784 2.03 2,989,123 Fannie Mae 4.000% 1/Apr/2041 3,209,804 3,178,007 2.14 648,969 Fannie Mae 4.000% 1/Oct/2041 696,932 689,654 0.47 146,860 Fannie Mae 4.500% 25/Nov/2039 168,493 29,962 0.02 1,743,126 Fannie Mae 4.500% 1/May/2041 1,899,190 1,890,917 1.28 1,864,623 Fannie Mae 4.500% 1/Jul/2044 2,031,274 2,020,990 1.37 158,352 Fannie Mae Interest Strip 4.000% 155,408 28,200 0.02 25/Oct/2039 194,908 Fannie Mae Interest Strip 4.000% 105,186 40,316 0.03 25/Nov/2039 110,593 Fannie Mae Interest Strip 5.000% 139,614 20,122 0.01 25/Jan/2039 246,018 Fannie Mae Interest Strip 5.000% 178,517 50,117 0.03 25/Jan/2040 100,352 Fannie Mae Interest Strip 5.000% 50,810 21,029 0.01 25/Mar/2041 198,793 Fannie Mae Interest Strip 5.000% 111,789 43,069 0.03 25/Mar/2041 380,821 Fannie Mae Interest Strip FRN 25/Jan/2040 172,722 88,857 0.06 398,037 Fannie Mae Pool FRN 1/Jun/2044 409,248 411,984 0.28 400,823 Fannie Mae Pool FRN 1/Apr/2044 412,707 416,251 0.28 196,474 Fannie Mae Pool FRN 1/Mar/2044 202,430 203,633 0.14 180,670 Fannie Mae Pool FRN 1/Jan/2044 186,951 187,394 0.13 696,658 Fannie Mae Pool 3.000% 1/Jul/2027 736,117 723,053 0.49 338,161 Fannie Mae Pool 3.000% 1/Dec/2042 352,427 338,126 0.23 144,956 Fannie Mae Pool 3.000% 1/Mar/2043 145,930 145,046 0.10 203,987 Fannie Mae Pool 3.000% 1/May/2043 205,358 204,113 0.14 87,161 Fannie Mae Pool 3.500% 1/Feb/2026 92,635 92,078 0.06 590,053 Fannie Mae Pool 3.500% 1/Mar/2026 626,379 623,340 0.42 631,306 Fannie Mae Pool 3.500% 1/Apr/2043 672,538 652,175 0.44 117,513 Fannie Mae Pool 4.000% 1/Dec/2024 126,437 125,249 0.08 316,517 Fannie Mae Pool 4.000% 1/Oct/2041 330,958 337,256 0.23 407,582 Fannie Mae Pool 4.000% 1/Jan/2042 427,324 434,421 0.29 445,480 Fannie Mae Pool 4.000% 1/Mar/2042 476,872 474,138 0.32 2,612,281 Fannie Mae Pool 4.000% 1/Nov/2043 2,775,345 2,784,299 1.88 1,108,566 Fannie Mae Pool 4.500% 1/Sep/2040 1,188,071 1,202,489 0.81 1,473,494 Fannie Mae Pool 4.500% 1/Jun/2041 1,572,810 1,606,360 1.09 239,861 Fannie Mae Pool 4.500% 1/Nov/2041 258,750 260,198 0.18 1,509,691 Fannie Mae Pool 4.500% 1/May/2042 1,648,984 1,643,893 1.11 1,420,965 Fannie Mae Pool 5.000% 1/Apr/2035 1,554,041 1,574,911 1.06 372,386 Fannie Mae Pool 5.000% 1/Dec/2040 393,740 414,313 0.28 1,289,555 Fannie Mae Pool 5.500% 1/Feb/2035 1,410,160 1,453,815 0.98 86,091 Fannie Mae Pool 5.500% 1/Aug/2040 93,880 96,969 0.07 151,917 Fannie Mae Pool 6.000% 1/Aug/2035 166,753 172,940 0.12 838,113 Fannie Mae Pool 6.000% 1/Feb/2037 925,591 956,134 0.65 249,198 Fannie Mae Pool 6.500% 1/Jan/2039 277,309 287,008 0.19 51,591 Fannie Mae Pool 6.500% 1/Jun/2039 57,420 59,313 0.04 MANULIFE GLOBAL FUND 210

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 205,000 Ford Credit Auto Owner Trust 1.580% 204,968 205,184 0.14 15/Aug/2020 195,000 Ford Credit Auto Owner Trust 1.640% 194,998 195,351 0.13 15/Jun/2020 500,000 Ford Credit Floorplan Master Owner Trust A 499,857 501,445 0.34 1.400% 15/Aug/2019 370,000 Ford Credit Floorplan Master Owner Trust A 370,463 370,645 0.25 1.490% 15/Sep/2019 385,000 Fordf 2015-1 A1 1.420% 15/Jan/2020 384,914 383,851 0.26 4,997,164 Freddie Mac FRN 25/Jul/2022 457,623 357,132 0.24 1,496,572 Freddie Mac FRN 25/Dec/2021 156,966 110,168 0.07 1,747,033 Freddie Mac FRN 25/Jan/2022 187,072 129,612 0.09 421,523 Freddie Mac FRN 25/Jun/2022 48,499 35,209 0.02 1,618,817 Freddie Mac FRN 25/Mar/2019 140,385 79,647 0.05 4,488,224 Freddie Mac FRN 25/Jul/2019 433,550 255,793 0.17 1,962,305 Freddie Mac FRN 25/May/2019 171,065 114,741 0.08 510,998 Freddie Mac Gold Pool 3.000% 1/Mar/2043 513,632 509,825 0.34 109,593 Freddie Mac Gold Pool 3.500% 1/Feb/2026 116,443 115,707 0.08 1,860,229 Freddie Mac Gold Pool 3.500% 1/May/2042 1,944,521 1,919,671 1.30 1,008,749 Freddie Mac Gold Pool 3.500% 1/Apr/2044 1,048,784 1,041,065 0.70 398,195 Freddie Mac Gold Pool 4.000% 1/Jul/2040 408,088 423,112 0.29 926,254 Freddie Mac Gold Pool 4.000% 1/Nov/2043 974,018 985,204 0.67 612,063 Freddie Mac Gold Pool 5.000% 1/Mar/2041 650,221 680,225 0.46 41,840 Freddie Mac Gold Pool 5.500% 1/Jul/2037 46,416 47,034 0.03 251,586 Freddie Mac Non Gold Pool FRN 1/Jun/2044 258,752 260,521 0.17 224,226 Freddie Mac Non Gold Pool FRN 1/May/2044 230,917 232,874 0.16 213,679 Freddie Mac Non Gold Pool FRN 1/Mar/2044 220,590 221,786 0.15 110,000 GE Equipment Midticket LLC 1.590% 109,998 110,521 0.07 22/Aug/2023 907,895 Ginnie Mae FRN 16/Jan/2053 98,759 69,080 0.05 1,418,040 Ginnie Mae 3.500% 20/Mar/2043 292,706 229,638 0.16 708,672 Ginnie Mae 3.500% 20/Mar/2043 149,494 115,628 0.08 110,000 Gmalt 1.730% 20/Jun/2019 109,985 110,435 0.07 357,000 Gmalt 1.850% 22/Jul/2019 356,900 358,343 0.24 290,000 Harot 1.470% 23/Aug/2021 289,970 290,189 0.20 580,000 Honda Auto Receivables Owner Trust 1.310% 579,804 580,397 0.39 15/Oct/2020 250,000 Hyundai Auto Receivables Trust 1.370% 249,999 249,000 0.17 15/Jul/2020 155,000 JDOT 1.650% 15/Dec/2021 154,970 155,943 0.11 290,000 John Deere Owner Trust 1.500% 289,932 291,673 0.20 15/Jun/2021 335,000 JPMBB Commercial Mortgage Securities 339,657 346,690 0.23 Trust FRN 15/Apr/2047 138,587 Merrill Lynch Countrywide Commercial 145,126 142,045 0.10 Mortgage Trust FRN 12/Jun/2046 168,448 Merrill Lynch Mortgage Investors Inc. FRN 153,615 153,992 0.10 25/Sep/2035 191,000 MSBAM FRN 15/Jan/2023 190,449 194,105 0.13 610,000 Narot 1.500% 15/Sep/2021 609,866 607,499 0.41 390,000 Nmotr 1.440% 15/Jan/2020 389,892 389,030 0.26 270,000 Toyota Auto Receivables 2015-B Owner Trust 1.740% 15/Sep/2020 269,977 271,409 0.18 211 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 190,000 Toyota Auto Receivables Owner Trust 1.440% 189,943 190,551 0.13 15/Apr/2020 65,000 Wells Fargo Commercial Mortgage Trust FRN 66,949 67,143 0.05 15/Dec/2047 85,000 Wfrbs 2013-C15 B FRN 15/Aug/2046 84,995 90,541 0.06 145,000 Wf-Rbs Commercial Mortgage Trust FRN 148,231 159,958 0.11 15/Sep/2046 225,000 World Omni Automobile Lease Securitization 225,291 226,016 0.15 Trust 2014-A 1.370% 15/Jan/2020 57,247,563 55,901,695 37.75 Mortgage and Asset Backed Securities Total 57,247,563 55,901,695 37.75 Bonds Australia 285,000 Goodman Funding Pty Limited 6.375% 286,018 326,687 0.22 15/Apr/2021 286,018 326,687 0.22 Bermuda 75,000 Aircastle Limited 7.625% 15/Apr/2020 75,000 85,594 0.06 220,000 White Mountains Re Group Limited P.P. 227,425 230,450 0.16 144A FRN 29/May/2049 302,425 316,044 0.22 Cayman Islands 162,000 Embraer Overseas Limited 5.696% 144,198 171,727 0.12 16/Sep/2023 144,198 171,727 0.12 Luxembourg 165,000 Actavis Funding SCS 3.800% 15/Mar/2025 164,414 161,884 0.11 145,000 ArcelorMittal 10.350% 1/Jun/2019 146,906 174,127 0.12 311,320 336,011 0.23 Mexico 65,000 Petroleos Mexicanos 4.250% 15/Jan/2025 64,625 63,245 0.04 64,625 63,245 0.04 Netherlands 152,000 Rabobank Nederland NV P.P. 144A FRN 184,525 192,095 0.13 30/Jun/2019 184,525 192,095 0.13 United States 235,000 Air Lease Corp. 3.375% 15/Jan/2019 234,666 239,767 0.16 130,000 Alere Inc. 7.250% 1/Jul/2018 130,048 137,170 0.09 395,000 Aliance One International Inc. 9.875% 387,099 350,563 0.24 15/Jul/2021 275,000 Amazon.com Inc. 4.950% 5/Dec/2044 270,149 270,591 0.18 215,000 AMC Entertainment Inc. 5.875% 15/Feb/2022 215,900 219,020 0.15 47,767 America West Airlines 8.057% 2/Jan/2022 47,821 53,738 0.04 345,000 American Airlines 3.700% 1/Nov/2024 345,000 341,119 0.23 183,168 American Airlines 4.950% 15/Jul/2024 183,168 194,616 0.13 MANULIFE GLOBAL FUND 212

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 165,000 American Gilsonite Company P.P. 144A 169,882 150,562 0.10 11.500% 1/Sep/2017 165,000 Ancestry.com Inc. 11.000% 15/Dec/2020 165,000 187,688 0.12 280,000 ARC Properties Operating Partnership 4.600% 279,554 273,409 0.18 6/Feb/2024 230,000 Ares Capital Corporation 3.875% 15/Jan/2020 229,080 232,763 0.16 235,000 Assured Guaranty US Holdings Inc. 5.000% 237,259 237,417 0.16 1/Jul/2024 335,000 AutoNation Inc. 5.500% 1/Feb/2020 346,024 364,313 0.24 140,000 Bank of America Corp. 3.300% 11/Jan/2023 139,222 137,749 0.09 145,000 Bank of America Corp. 4.200% 26/Aug/2024 144,894 144,548 0.10 140,000 Bank of America Corp. 4.250% 22/Oct/2026 139,324 136,707 0.09 245,000 Bank of America Corp. FRN 29/Sep/2049 245,000 244,288 0.17 230,000 Bank of America Corp. FRN 29/Jul/2049 253,000 242,449 0.16 36,000 Beaver Valley II Funding 9.000% 1/Jun/2017 37,237 39,015 0.03 195,000 Bunge Limited Finance Corp. 8.500% 224,026 236,245 0.16 15/Jun/2019 130,000 California Resources 5.500% 15/Sep/2021 130,000 114,064 0.08 280,000 California Resources 6.000% 15/Nov/2024 276,302 242,200 0.16 185,000 Capital One Financial FRN 29/Dec/2049 185,000 183,880 0.12 200,000 Casella Waste Systems 7.750% 15/Feb/2019 193,500 201,500 0.14 260,000 Chesapeake Energy Corp. 5.750% 271,058 234,560 0.16 15/Mar/2023 140,000 Clear Channel Worldwide Holdings Inc. 146,451 145,573 0.10 6.500% 15/Nov/2022 200,000 Compass Investors Inc. P.P. 144A 7.750% 200,000 204,000 0.14 15/Jan/2021 194,042 Continental Airlines Inc. 5.983% 19/Oct/2023 197,933 216,357 0.15 87,702 Continental Airlines Inc. 6.250% 11/Oct/2021 87,702 93,842 0.06 65,332 Continental Airlines Inc. 6.545% 2/Feb/2019 69,227 71,702 0.05 26,608 Continental Airlines Inc. 6.648% 15/Mar/2019 25,784 27,505 0.02 87,925 Continental Airlines Inc. 6.900% 2/Jan/2018 93,000 92,040 0.06 4,215 Continental Airlines Inc. 8.307% 2/Oct/2019 4,426 4,496 0.00 180,000 Corrections Corp. of America 4.625% 180,000 176,400 0.12 1/May/2023 225,000 Credit Acceptance Corp. 6.125% 15/Feb/2021 225,000 226,688 0.15 225,000 Dana Holding Corp. 6.000% 15/Sep/2023 225,000 235,125 0.16 125,000 DCP Midstream LLC 3.875% 15/Mar/2023 123,398 114,456 0.08 99,168 Delta Air Lines Inc. 5.300% 15/Oct/2020 98,992 106,606 0.07 40,202 Delta Air Lines Inc. 6.200% 2/Jan/2020 40,202 43,519 0.03 277,791 Delta Air Lines Inc. 6.718% 2/Jan/2023 268,981 322,237 0.22 335,844 Delta Air Lines Inc. 6.821% 10/Aug/2022 350,787 386,430 0.25 420,000 Developers Diversified Realty Corp. 7.500% 460,260 461,174 0.31 1/Apr/2017 265,000 Discover Financial Services 5.200% 286,192 285,459 0.19 27/Apr/2022 60,000 Dynegy Inc. 6.750% 1/Nov/2019 60,000 62,700 0.04 265,000 Dynegy Inc. P.P. 144A 7.625% 1/Nov/2024 268,450 281,640 0.18 145,000 Education Realty Trust Inc. 4.600% 144,987 146,873 0.10 1/Dec/2024 210,000 Endo Finance LLC & Endo Finco Inc. P.P. 144A 7.250% 15/Jan/2022 226,338 224,175 0.15 213 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 195,000 Enova International Inc. 9.750% 1/Jun/2021 192,586 185,738 0.13 325,000 Enterprise Products Operating LLC FRN 330,584 327,438 0.22 1/Jun/2067 215,000 Enterprise Products Operating LLC FRN 241,400 227,094 0.15 1/Aug/2066 100,000 Ep Energy LLC 7.750% 1/Sep/2022 113,250 105,000 0.07 115,000 Family Tree Escrow LLC P.P. 144A 5.750% 115,000 120,523 0.08 1/Mar/2023 240,000 Fifth Third Bancorp FRN 29/Dec/2049 240,000 224,174 0.15 55,000 FPL Group Capital Inc. FRN 15/Jun/2067 59,331 50,090 0.03 235,000 FS Investment Corp. 4.000% 15/Jul/2019 234,231 238,779 0.16 90,000 Fts International Inc. 6.250% 1/May/2022 90,000 67,050 0.05 125,000 Gci Inc. 6.875% 15/Apr/2025 123,881 126,875 0.09 300,000 GE Capital Corp. 7.125% 29/Dec/2049 300,000 346,183 0.23 245,000 General Electric Capital Corp. FRN 190,638 223,400 0.15 15/Aug/2036 185,000 General Electric Capital Corp. FRN 194,650 190,102 0.13 29/Jun/2049 240,000 General Motors Company 4.875% 2/Oct/2023 240,000 252,458 0.17 200,000 General Motors Company 6.250% 2/Oct/2043 222,500 223,940 0.15 285,000 General Motors Financial Company Inc. 283,512 279,572 0.19 4.000% 15/Jan/2025 160,000 Harbinger Group Inc. 7.875% 15/Jul/2019 158,979 169,600 0.11 270,000 Hartford FRN 15/Jun/2068 305,675 304,574 0.21 195,000 HCA Inc. 5.250% 15/Apr/2025 195,000 204,335 0.14 95,000 Health Care Reit Inc. 4.950% 15/Jan/2021 94,382 103,847 0.07 260,000 HJ Heinz Company 2.000% 2/Jul/2018 259,480 260,217 0.17 170,000 HJ Heinz Company 5.200% 15/Jul/2045 169,330 173,514 0.12 125,000 Huntington Ingalls Industries Inc. 7.125% 127,778 133,438 0.09 15/Mar/2021 40,000 Infor US Inc. P.P. 144A 6.500% 15/May/2022 40,900 40,800 0.03 365,000 ING Inc. FRN 15/May/2053 366,594 374,581 0.24 110,000 International Lease Finance Corp. P.P. 144A 109,996 122,507 0.08 7.125% 1/Sep/2018 290,000 Jefferies Group Inc. 6.875% 15/Apr/2021 304,893 331,597 0.22 175,000 Jo-Ann Stores Holdings Inc. P.P. 144A 9.750% 172,837 155,750 0.11 15/Oct/2019 75,000 Jones Energy Holdings 6.750% 1/Apr/2022 75,000 71,749 0.05 265,000 JPMorgan Chase & Company FRN 265,000 259,911 0.18 29/Dec/2049 420,000 JPMorgan Chase & Company FRN 443,293 446,858 0.30 29/Jan/2049 250,000 Liberty Mutual Group P.P. 144A 7.800% 234,103 296,875 0.20 15/Mar/2037 250,000 Manufacturers & Traders Trust Company FRN 262,281 258,465 0.17 1/Dec/2021 70,000 Masco Corp. 4.450% 1/Apr/2025 70,000 70,186 0.05 130,000 Masco Corp. 7.125% 15/Mar/2020 130,469 150,800 0.10 115,000 Mcgraw Hill Financial Inc. P.P. 144A 4.000% 114,142 114,672 0.08 15/Jun/2025 215,000 Medtronic Inc. P.P. 144A 4.625% 214,424 217,826 0.15 15/Mar/2045 200,000 Micron Technology Inc. 5.875% 15/Feb/2022 204,648 202,114 0.14 MANULIFE GLOBAL FUND 214

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 130,000 Morgan Stanley 5.550% 27/Apr/2017 135,390 139,182 0.09 175,000 Morgan Stanley FRN 29/Dec/2049 176,969 173,457 0.12 515,000 Morgan Stanley 7.300% 13/May/2019 594,775 606,041 0.41 110,000 MPT Operating Partnership LP 6.875% 110,419 116,600 0.08 1/May/2021 150,000 Nana Development Corp. P.P. 144A 9.500% 154,875 144,000 0.10 15/Mar/2019 175,000 Nationstar Mortgage LLC 6.500% 1/Jul/2021 172,594 163,954 0.11 180,000 Nationstar Mortgage LLC 7.875% 1/Oct/2020 186,375 179,325 0.12 155,000 Nationstar Mortgage LLC 9.625% 1/May/2019 157,975 165,075 0.11 190,000 Newstar Financial Inc. P.P. 144A 7.250% 190,000 195,700 0.13 1/May/2020 117,323 Northwest Airlines 2007-1 7.027% 120,620 134,452 0.09 1/May/2021 125,000 NRG Yield Operating LLC P.P. 144A 5.375% 125,000 126,563 0.09 15/Aug/2024 145,000 Omega Healthcare Investors Inc. P.P. 144A 143,740 142,924 0.10 4.500% 15/Jan/2025 180,000 Omega Healthcare Investors Inc. 4.950% 177,444 186,188 0.13 1/Apr/2024 240,000 Owens Corning 4.200% 15/Dec/2022 241,176 242,338 0.17 125,000 Pacific Lifecorp 6.000% 10/Feb/2020 144,607 141,548 0.10 231,000 Plains Exploration & Production Company 254,678 245,365 0.17 6.750% 1/Feb/2022 195,000 PNC Financial Services FRN 29/May/2049 194,050 185,880 0.13 250,000 PNC Financial Services Group Inc. FRN 259,375 278,243 0.19 31/Dec/2049 7,000 Pnpp II Funding Corp. 9.120% 30/May/2016 7,172 7,187 0.00 110,000 Ppl Energy Supply LLC 6.500% 1/Jun/2025 110,000 110,550 0.07 60,000 Prudential Financial Inc. FRN 15/Mar/2044 60,000 59,495 0.04 72,000 Prudential Financial Inc. 5.875% 15/Sep/2042 73,194 76,273 0.05 155,000 Qvc Inc. 4.375% 15/Mar/2023 154,973 152,579 0.10 130,000 Qvc Inc. 5.125% 2/Jul/2022 135,203 134,066 0.09 155,000 Qvc Inc. 5.450% 15/Aug/2034 154,665 141,030 0.10 275,000 Regency Energy Partners LP 5.500% 267,837 280,385 0.19 15/Apr/2023 140,000 Revlon Consumer Products Corp. 5.750% 140,000 138,250 0.09 15/Feb/2021 35,000 Rite Aid Corp. 6.125% 1/Apr/2023 35,000 35,966 0.02 150,000 Select Medical Corp. 6.375% 1/Jun/2021 150,975 151,125 0.10 145,000 Southern California Edison Company FRN 147,613 160,443 0.11 29/Aug/2049 53,000 Sovereign Capital Trust VI 7.908% 56,989 55,043 0.04 13/Jun/2036 435,000 State Street Capital Trust IV FRN 15/Jun/2037 321,275 380,081 0.26 165,000 Stifel Financial Corp. 4.250% 18/Jul/2024 163,673 163,175 0.11 80,000 Summit Midstream Holdings LLC 7.500% 80,000 84,400 0.06 1/Jul/2021 295,000 Teachers Insurance & Annuity Association of 329,879 370,306 0.25 America P.P. 144A 6.850% 16/Dec/2039 75,000 Tops Holding II Corp. 8.750% 15/Jun/2018 74,250 75,469 0.05 185,000 Trinity Industries Inc. 4.550% 1/Oct/2024 185,690 178,630 0.12 215 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 270,000 Tutor Perini Corp. 7.625% 1/Nov/2018 276,201 277,425 0.18 16,294 Ual 2009-1 Pass Through Trust 10.400% 16,294 17,789 0.01 1/May/2018 87,852 UAL 2009-2a Pass Through Trust 9.750% 91,177 95,539 0.06 15/Jul/2018 235,000 United Airlines 3.750% 3/Mar/2028 235,000 236,175 0.16 270,000 United Airlines 4.625% 3/Mar/2024 274,856 275,400 0.19 140,000 United Rentals North America Inc. 5.500% 140,000 135,464 0.09 15/Jul/2025 155,000 United Rentals North America Inc. 5.750% 155,450 152,748 0.10 15/Nov/2024 150,869 US Airways Group Inc. 5.900% 1/Apr/2026 161,107 170,482 0.12 207,694 US Airways Group Inc. 6.250% 22/Apr/2023 218,357 233,656 0.16 135,000 Vector Group Limited 7.750% 15/Feb/2021 138,494 145,800 0.10 145,000 Verisign Inc. 5.250% 1/Apr/2025 145,000 144,638 0.10 160,000 Verizon Communications Inc. 4.400% 165,808 149,621 0.10 1/Nov/2034 140,000 Verizon Communications Inc. 5.012% 112,581 128,337 0.09 21/Aug/2054 215,000 Wachovia Bank 5.850% 1/Feb/2037 206,017 254,974 0.17 37,281 Waterford 3 Fund 8.090% 2/Jan/2017 37,468 37,298 0.03 15,919 Waterford Gaming P.P. 144A 8.625% 15,919 0 0.00 15/Sep/2049 a 265,000 Wells Fargo & Company FRN 29/Dec/2049 269,838 271,769 0.18 265,000 Wells Fargo & Company FRN 29/Dec/2049 265,749 266,371 0.18 446,000 Wells Fargo & Company FRN 29/Mar/2049 514,667 483,609 0.33 75,000 Whiting Petroleum Corp. P.P. 144A 6.250% 77,625 75,563 0.05 1/Apr/2023 185,000 Wisconsin Energy Corp. FRN 15/May/2067 183,825 172,975 0.12 65,000 WPX Energy Inc. 5.250% 15/Sep/2024 65,000 59,800 0.04 165,000 WPX Energy Inc. 6.000% 15/Jan/2022 177,375 164,175 0.11 260,000 WR Berkley Corp. FRN 1/Dec/2066 256,792 247,081 0.17 130,000 Zebra Technologies Corp. P.P. 144A 7.250% 130,675 140,725 0.10 15/Oct/2022 430,000 ZFS Finance Trust I P.P. 144A FRN 459,565 443,115 0.29 15/Dec/2065 27,732,380 28,093,387 18.95 Bonds Total 29,025,491 29,499,196 19.91 Bonds convertibles United States 135,000 NRG Yield Inc. 3.250% 1/Jun/2020 135,000 135,574 0.09 135,000 135,574 0.09 Bonds convertibles Total 135,000 135,574 0.09 MANULIFE GLOBAL FUND 216

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Equities United States 235 Ally Financial Inc Preferred 234,719 238,715 0.17 5,500 Discover Financial Services 137,500 139,260 0.09 6,375 Goldman Sachs Group Inc. 159,375 156,251 0.11 531,594 534,226 0.37 Equities Total 531,594 534,226 0.37 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities (2) 105,094,322 104,045,216 70.27 Other transferable securities and money market instruments (2) Supranationals, Governments and Local Public Authorities, Debt Instruments Argentina 140,204 Argentine (Govt of) 8.280% 31/Dec/2033 114,441 135,647 0.09 114,441 135,647 0.09 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 114,441 135,647 0.09 217 MANULIFE GLOBAL FUND Mortgage and Asset Backed Securities United States 335,000 Americold LLC Trust FRN 14/Jan/2021 361,396 383,515 0.26 225,000 Bamll FRN 14/Apr/2033 208,773 199,621 0.13 346,089 Bear Stearns Alt-A Trust FRN 25/Aug/2035 304,558 331,779 0.22 320,000 BHMS FRN 5/Jul/2033 320,000 313,018 0.21 180,000 Bway FRN 13/Jan/2035 179,999 172,441 0.12 320,000 Bway FRN 10/Mar/2033 292,700 296,037 0.20 225,000 Bxhtl FRN 15/May/2017 223,875 223,875 0.15 81,423 Citicorp Residential Mortgage Securities Inc. 78,981 84,850 0.06 5.536% 25/Jun/2037 22,651 Extended Stay America Trust FRN 23,217 22,605 0.02 5/Dec/2031 245,000 Gahr 3.495% 15/Dec/2019 229,254 231,000 0.16 115,000 Gahr 3.495% 15/Dec/2019 112,133 113,061 0.08 419,358 Harborview Mortgage Loan Trust FRN 32,937 25,367 0.02 19/Sep/2035 616,911 Harborview Mortgage Loan Trust FRN 52,806 40,870 0.03 19/Apr/2045 259,177 Hilt 2013-Hlf Efl H FRN 5/Nov/2030 259,177 259,272 0.18 200,000 Hilton USA Trust 4.407% 5/Nov/2030 205,438 202,446 0.14 1,641,077 Indymac Index Mortgage Loan Trust FRN 25/Oct/2036 110,615 54,812 0.04

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 1,798,361 Indymac Index Mortgage Loan Trust FRN 85,066 137,395 0.09 25/Oct/2036 420,000 New Century Home Equity Loan Trust FRN 373,734 401,449 0.28 25/Mar/2035 1,044,287 Residential Accredit Loans Inc. FRN 76,180 131,841 0.09 25/Dec/2045 210,000 Soundview Home Loan Trust FRN 191,100 199,073 0.13 25/Nov/2035 180,000 TMSQ 3.963% 10/Oct/2036 175,990 175,018 0.12 155,000 Wachovia Bank Commercial Mortgage Trust 169,483 164,677 0.11 FRN 15/Apr/2047 3,954,119 Washington Mutual 0.000% 25/Oct/2045 111,226 285,744 0.19 420,000 Wells Fargo Commercial Mortgage Trust FRN 391,351 412,489 0.28 18/Mar/2020 216,193 Westr 4.500% 20/Mar/2016 218,495 217,004 0.15 4,788,484 5,079,259 3.46 Mortgage and Asset Backed Securities Total 4,788,484 5,079,259 3.46 Bonds Bermuda 290,000 Digicel Group Limited 8.250% 30/Sep/2020 313,200 292,900 0.20 313,200 292,900 0.20 Canada 115,000 Norbord Inc. 6.250% 15/Apr/2023 115,000 116,454 0.08 285,000 Nova Chemicals Corp. 5.000% 1/May/2025 294,749 288,563 0.20 100,000 Pacific Rubiales Energy Corp. 5.125% 100,000 73,054 0.05 28/Mar/2023 110,000 Teine Energy Limited 6.875% 30/Sep/2022 109,157 106,700 0.07 135,000 Vpii Escrow Corp. P.P. 144A 7.500% 135,000 145,631 0.10 15/Jul/2021 140,000 VRX Escrow Corp. P.P. 144A 6.125% 142,363 143,500 0.10 15/Apr/2025 115,000 Xstrata Finance Canada Limited 4.250% 111,817 113,604 0.08 25/Oct/2022 1,008,086 987,506 0.68 France 125,000 AXA SA FRN 14/Dec/2036 132,188 131,254 0.09 132,188 131,254 0.09 Germany 305,000 Commerzbank AG 8.125% 19/Sep/2023 319,694 354,895 0.24 319,694 354,895 0.24 Guernsey Channel Islands 155,800 Doric Nimrod Air Two Limited 6.125% 156,774 165,148 0.11 30/Nov/2021 156,774 165,148 0.11 MANULIFE GLOBAL FUND 218

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Luxembourg 150,000 Mallinckrodt 5.750% 1/Aug/2022 150,000 153,750 0.10 150,000 153,750 0.10 Marshall Islands 195,000 Navios South American Logistics Inc. 7.250% 195,000 186,956 0.13 1/May/2022 195,000 186,956 0.13 Netherlands 265,000 ING Bank NV 5.800% 25/Sep/2023 279,890 290,363 0.20 279,890 290,363 0.20 United Kingdom 330,288 British Airways 4.625% 20/Jun/2024 330,288 347,781 0.24 74,467 British Airways 5.625% 20/Jun/2020 74,467 78,935 0.05 404,755 426,716 0.29 United States 125,000 Ahern Rentals Inc. P.P. 144A 7.375% 125,000 124,363 0.08 15/May/2023 342,660 American Airlines 7.000% 31/Jul/2019 366,161 365,790 0.25 95,000 Ancestry.com Inc. P.P. 144A 9.625% 95,050 97,019 0.07 15/Oct/2018 80,000 Carmike Cinemas Inc. P.P. 144A 6.000% 80,000 81,400 0.06 15/Jun/2023 175,000 CCM Merger Inc. P.P. 144A 9.125% 178,500 189,000 0.13 1/May/2019 285,000 Crown Castle Towers LLC P.P. 144A 4.883% 285,000 310,167 0.21 15/Aug/2020 160,000 Crown Castle Towers LLC 6.113% 174,870 182,631 0.12 15/Jan/2020 220,000 DCP Midstream LLC P.P. 144A FRN 220,000 174,900 0.12 21/May/2043 200,000 DCP Midstream LLC P.P. 144A 9.750% 266,343 233,216 0.16 15/Mar/2019 50,000 Enersys P.P. 144A 5.000% 30/Apr/2023 50,000 49,688 0.03 100,000 Florida East Coast Holdings Corp. P.P. 144A 100,000 100,250 0.07 6.750% 1/May/2019 210,000 Glencore Funding LLC P.P. 144A 4.125% 209,880 205,520 0.14 30/May/2023 120,000 HJ Heinz Company P.P. 144A 4.875% 130,500 130,800 0.09 15/Feb/2025 180,000 Hot Topic Inc. P.P. 144A 9.250% 15/Jun/2021 185,129 189,000 0.13 190,000 Huntington Ingalls Industries Inc. P.P. 144A 196,012 195,462 0.13 5.000% 15/Dec/2021 65,000 Metlife Capital Trust IV P.P. 144A 7.875% 82,063 82,209 0.06 15/Dec/2037 160,000 MetLife Capital Trust X P.P. 144A 9.250% 194,013 225,200 0.15 8/Apr/2038 75,000 Optimas Oe Solution Holding 8.625% 75,000 76,500 0.05 1/Jun/2021 290,000 Platform Specialty Products Corp. P.P. 144A 295,200 300,440 0.20 6.500% 1/Feb/2022 175,000 Rain CII Carbon LLC P.P. 144A 8.000% 1/Dec/2018 175,000 171,938 0.12 219 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 100,000 Rain CII Carbon LLC P.P. 144A 8.250% 100,000 96,750 0.07 15/Jan/2021 110,000 Rki Exploration & Production P.P. 144A 110,000 109,725 0.07 8.500% 1/Aug/2021 100,000 Safway Group Holding P.P. 144A 7.000% 99,975 102,250 0.07 15/May/2018 50,000 Seminole Tribe P.P. 144A 6.535% 1/Oct/2020 48,698 53,500 0.04 109,000 Spl Logistics Escrow LLC P.P. 144A 8.875% 109,485 115,540 0.08 1/Aug/2020 85,000 Stearns Holdings Inc. 9.375% 15/Aug/2020 84,788 85,213 0.06 220,000 Terraform Power Operating LLC P.P. 144A 222,343 224,400 0.15 5.875% 1/Feb/2023 200,000 Tops Holding/markets II P.P. 144A 8.000% 200,000 201,000 0.14 15/Jun/2022 55,000 Valeant Pharmaceuticals International Inc. P.P. 55,000 55,418 0.04 144A 5.500% 1/Mar/2023 235,000 XPO Logistics Inc. P.P. 144A 6.500% 235,000 231,475 0.15 15/Jun/2022 110,000 ZFS Finance USA P.P. 144A FRN 9/May/2037 120,725 115,775 0.08 4,869,735 4,876,539 3.32 Bonds Total 7,829,322 7,866,027 5.36 Total Other transferable securities and money market instruments (2) 12,732,247 13,080,933 8.91 Portfolio of Investments 143,257,323 142,562,605 96.34 Other Net Assets 5,413,944 3.66 Net Assets 147,976,549 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 220

U.S. BOND FUND Investment Objective: The primary objective of this sub-fund is to maximize total returns from a combination of current income and capital appreciation. To pursue this objective, the sub-fund will normally invest its assets in U.S. dollars-denominated fixed-income securities with an intended average credit rating of A and above. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* U.S. Bond Fund Class AA +0.50% U.S. Bond Fund Class HA -0.13% U.S. Bond Fund Class HC -0.64% U.S. Bond Fund Class HI +0.31% Barclays Capital U.S. Aggregate Bond Index +1.86% PERFORMANCE FROM 15 JULY 2014 TO 30 June 2015 U.S. Bond Fund Class AA HKD Inc +0.31% PERFORMANCE FROM 31 JULY 2014 TO 30 June 2015 U.S. Bond Fund Class AA Inc +0.89% Portfolio Review The Share Class AA returned 0.50% for the period, compared to the Barclays U.S. Aggregate Bond Index return of 1.86%. An overweight position in commercial mortgage-backed securities aided the Sub-fund s performance relative to the Index. Within the Sub-fund s investment-grade corporate bond holdings, the Subfund benefited from favorable security selection and an emphasis on the financials sector, which outperformed the industrials and utilities sectors of the investment-grade corporate bond market. Given our expectations for a gradual rise in bond yields, the Sub-fund had a shorter duration than that of the Index throughout much of the period. This positioning aided results as bond yields rose late in the period. The Sub-fund was also positioned for a flatter yield curve, which proved beneficial as long-term yields fell while short-term yields rose modestly. Sector allocation detracted from performance versus the Index. An overweight position in corporate bonds, including both investment grade and high yield, weighed on performance as corporate bonds underperformed. Underweight positions in U.S. Treasury bonds and residential mortgage-backed securities also detracted from relative results. The Sub-fund s shorter duration hurt performance during the first half of the period, when bond yields declined. Over the period, our sub-fund s portfolio manager reduced the Sub-fund s corporate bond holdings, taking some profits in both investment-grade and high-yield corporate securities. We invested the proceeds in asset-backed securities, backed primarily by auto loans and credit card debt. These securities have AAA credit ratings, short durations and ample liquidity. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. 221 MANULIFE GLOBAL FUND

U.S. BOND FUND Market Review The U.S. bond market advanced for the 12 months ended June 30, 2015. Bond yields, which were mixed but mostly lower during the period, generally tracked fluctuations in energy prices. Growing energy production in the U.S. and weaker demand from slowing economies elsewhere in the world led to a sharp drop in energy prices in the last six months of 2014. Significantly lower energy prices fueled expectations of lower inflation, and bond yields declined. Energy prices were volatile in early 2015, but they began to rebound over the last few months of the period, and bond yields rose in response. From an economic perspective, the U.S. economy began the 12-month period on a positive note, growing at an annual rate of 5% in the third quarter of 2014, the fastest quarterly growth rate in 11 years. At the same time, the U.S. Federal Reserve Board ( Fed ) ended its quantitative easing program and signaled its intent to raise short-term interest rates sometime in 2015. Economic activity eased somewhat in the fourth quarter of 2014. It then slowed dramatically in the first quarter of 2015 as a combination of severe winter weather, a West Coast port shutdown and a stronger U.S. dollar led to a modest economic contraction. Although economic data improved toward the end of the period, the Fed pushed back its plan to raise interest rates until later in 2015. In this environment, most sectors of the U.S. bond market generated positive returns over the period. The leading performers were residential and commercial mortgage-backed securities, which benefited from their relatively high yields. U.S. Treasury securities, the most interest rate sensitive sector of the fixed income market, also fared well. Corporate bonds were the weakest performers over the period. High-yield corporate bonds, which posted modestly negative returns, were adversely affected by the decline in the energy sector, while investment-grade corporate securities underperformed as supply picked up in the second half of the period. Outlook Our sub-fund s portfolio manager expect the recent improvement in the U.S. economy to continue during the second half of the year, leading the Fed to raise its short-term interest rate target before year-end. Our sub-fund s portfolio manager expects the Fed s first rate hike since 2006 to occur in either September or December. At the same time, a lack of wage growth is likely to keep a lid on the inflation rate. They intend to maintain the Sub-fund s emphasis on the credit-related sectors of the bond market. Going into a period of probable Fed rate hikes, they believe valuations in the corporate bond market are more attractive than they have been during past Fed tightening cycles. The Sub-fund also continues to have a shorter-than-index duration and is positioned for a flatter yield curve, as we expect the yield curve to flatten as the Fed raises short-term rates. MANULIFE GLOBAL FUND 222

U.S. SMALL CAP EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Equities Ireland 8,073 Fleetmatics Group plc 311,799 379,189 1.33 20,125 King Digital Entertainment plc 310,353 282,354 1.00 622,152 661,543 2.33 Israel 20,403 G Willi-Food International Limited 148,182 116,297 0.41 39,171 Lumenis Limited 358,705 537,427 1.89 6,260 Nice Systems Limited ADR 229,857 397,822 1.41 736,744 1,051,546 3.71 United Kingdom 25,438 Luxfer Holdings plc ADR 443,305 322,553 1.14 443,305 322,553 1.14 United States 12,463 ABM Industries Inc. 387,392 410,282 1.44 3,461 Acadia Pharmaceuticals Inc. 115,581 142,247 0.50 6,766 Access National Corp. 110,817 133,831 0.47 3,891 Adamas Pharmaceuticals Inc. 70,985 102,061 0.36 4,649 Air Methods Corp. 202,935 193,956 0.68 13,344 AMC Entertainment Inc. A 316,248 405,524 1.43 5,284 AO Smith Corp. 202,836 382,192 1.34 7,249 Azz Inc. 310,129 376,441 1.32 12,674 Banner Corp. 439,579 610,126 2.14 28,995 BBCN Bancorp Inc. 387,788 430,286 1.51 11,010 Beacon Roofing Supply Inc. 402,244 365,202 1.28 3,004 Bio-Rad Laboratories Inc. A 364,594 452,913 1.59 5,739 Bristow Group Inc. 376,155 305,717 1.08 32,137 Brookline Bancorp Inc. 285,003 363,148 1.28 18,978 Bruker Corp. 359,000 390,567 1.37 16,513 Build-A-Bear Workshop Inc. 294,986 262,722 0.92 17,137 Cadence Design Systems Inc. 222,406 335,714 1.18 18,908 Central Garden & Pet Company 154,487 196,833 0.69 11,607 Central Garden & Pet Company 116,194 131,507 0.46 10,080 Cinemark Holdings Inc. 297,603 403,402 1.42 8,747 Clarcor Inc. 492,819 539,865 1.91 8,967 Columbia Banking System Inc. 291,386 291,607 1.03 3,052 Compass Minerals International Inc. 248,732 254,171 0.89 21,762 Connectone Bancorp Inc. 402,322 470,494 1.65 2,432 Cooper Companies Inc. 280,888 433,261 1.52 8,908 Copart Inc. 318,358 316,323 1.11 24,804 Craft Brew Alliance Inc. 280,541 280,781 0.99 5,885 Cytec Industries Inc. 231,087 358,691 1.26 14,919 Del Frisco s Restaurant Group Inc. 299,790 276,598 0.97 25,519 Derma Sciences Inc. 293,084 177,867 0.63 15,850 Emergent Biosolutions Inc. 325,974 516,235 1.82 120,457 Enzo Biochem Inc. 350,636 356,553 1.25 6,626 Epr Properties 364,682 364,761 1.28 223 MANULIFE GLOBAL FUND

U.S. SMALL CAP EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 3,978 Esterline Technologies Corp. 338,095 379,859 1.34 16,290 Everbank Financial Corp. 237,508 319,773 1.12 7,321 Evercore Partners Inc. 313,772 393,723 1.39 13,735 Exactech Inc. 302,052 289,946 1.02 10,755 Finish Line A 290,330 297,698 1.05 38,010 Five9 Inc. 210,737 194,231 0.68 8,899 Forum Energy Technologies Inc. 244,971 178,781 0.63 6,645 Gentherm Inc. 218,571 366,638 1.29 8,151 Gnc Holdings Inc. A 273,039 365,083 1.28 16,299 Golub Capital Bdc Inc. 281,201 272,519 0.96 6,629 Greatbatch Inc. 229,642 356,242 1.25 6,207 Halozyme Therapeutics Inc. 97,363 135,995 0.48 8,812 Hb Fuller Company 348,144 361,909 1.27 8,910 Hillenbrand Inc. 249,751 273,002 0.96 12,038 Homeaway Inc. 371,423 365,714 1.29 5,273 HSN Inc. 351,119 367,687 1.30 7,088 Hub Group Inc. A 280,941 282,740 0.99 18,607 Hudson Pacific Properties Inc. 506,673 525,834 1.86 5,583 Infoblox Inc. 151,953 145,381 0.51 4,506 Integra Lifesciences Holdings Corp. 226,473 304,380 1.07 7,318 Inter Parfums Inc. 200,524 248,592 0.87 16,496 Invensense Inc. 232,688 255,853 0.90 40,626 Inventure Foods Inc. 369,315 420,073 1.48 12,488 Lasalle Hotel Properties 327,545 438,329 1.54 5,038 Logmein Inc. 215,258 324,498 1.14 45,151 Martha Stewart Living Omnimedia 200,910 284,000 1.00 8,996 Monotype Imaging Holdings Inc. 261,872 216,714 0.76 9,411 Netgear Inc. 301,201 285,624 1.00 22,403 Nrdc Acquisition Corp. 386,564 349,935 1.23 26,160 On Semiconductor Corp. 203,525 307,642 1.08 10,779 Orchids Paper Products 258,420 261,175 0.92 6,280 Owens & Minor Inc. 218,612 213,961 0.75 26,480 Pennantpark Investment Corp. 298,201 235,937 0.83 9,617 Portland General Electric Company 353,733 318,515 1.12 5,155 Prosperity Bancshares Inc. 249,035 297,444 1.05 41,299 Rcs Capital Corp. A 420,804 245,316 0.86 854 Receptos Inc. 129,560 153,344 0.54 12,309 Retailmenot Inc. 235,768 218,731 0.77 10,829 Simpson Manufacturing Company Inc. 367,473 369,269 1.30 6,233 Solera Holdings Inc. 337,539 276,995 0.97 7,665 Ss&c Technologies Holdings Inc. 241,062 475,076 1.68 5,764 Synchronoss Technologies Inc. 258,238 267,277 0.94 5,958 Tenneco Inc. 268,474 342,823 1.21 4,907 Unitil Corp. 173,884 162,863 0.57 4,357 Vail Resorts Inc. 291,657 472,429 1.66 4,232 Watsco Inc. 365,108 524,133 1.85 13,178 Winnebago Industries 326,523 320,225 1.13 1,787 ZS Pharma Inc. 94,863 91,637 0.32 22,709,375 25,587,423 89.98 MANULIFE GLOBAL FUND 224

U.S. SMALL CAP EQUITY FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Virgin Islands (British) 36,099 Amira Nature Foods Limited 419,624 409,724 1.44 419,624 409,724 1.44 Equities Total 24,931,200 28,032,789 98.60 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 24,931,200 28,032,789 98.60 Portfolio of Investments 24,931,200 28,032,789 98.60 Other Net Assets 397,830 1.40 Net Assets 28,430,619 100.00 (1) All securities classified under this section are listed on a stock-exchange. The notes to the Financial Statements form an integral part of these financial statements. 225 MANULIFE GLOBAL FUND

U.S. SMALL CAP EQUITY FUND Investment Objective: The sub-fund aims to make diversified investments mainly in equity-related investments and equities of smaller capitalization companies covering different sectors of the economy in the U.S. and which are listed on any stock exchange. The remaining assets of the sub-fund may include convertible bonds, bonds, deposits and other investments. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* U.S. Small Cap Equity Fund Class AA +3.69% U.S. Small Cap Equity Fund Class HA +3.07% U.S. Small Cap Equity Fund Class HC +2.77% U.S. Small Cap Equity Fund Class HI +3.54% Russell 2000 Index +6.49% Portfolio Review The Share Class AA returned 3.69% for the period, compared to the Russell 2000 Total Return Index return of 6.49%. The Sub-fund s sector allocation contributed to performance. Underweight positions in the utilities sector and REITs contributed to performance during the second half of the period. Individual contributors to performance included Einstein Noah Restaurant Group, Inc., A. O. Smith Corporation and Vail Resorts, Inc. Einstein Noah, a bagel and sandwich chain, was acquired by private investors at a significant premium. A.O. Smith is a blue-chip, global manufacturer of hot water heaters. The company has benefited from the U.S. housing recovery and from demand in emerging markets. Vail Resorts is a Colorado-based ski resort operator. The company has consistently posted strong results and recently made a significant land acquisition in Utah. The Sub-fund s holdings in industrials stocks detracted from performance, as these companies serve customers in the struggling energy sector. Underweight positions in the utilities sector and REITs also detracted from performance in the first half of the period. Significant individual detractors from performance included Movado Group, Inc., Derma Sciences, Inc. and Forum Energy Technologies, Inc. Movado, a Swiss watch manufacturer, struggled with slowing sales for traditional watches and the release of the Apple Watch. Derma Sciences, a medical technology company focused on wound care, experienced weaker-than-expected sales growth for some of its existing products. Energy services company Forum Energy s share price fell on reduced drilling by exploration and production companies. Market Review During the second half of 2014, energy and energy-related stocks declined as the price of oil fell sharply. Also in the second half of 2014, stocks with higher dividend yields, such as utilities and real estate investment trusts ( REITs ), outperformed the broader market. In the first half of 2015, however, this trend reversed. Outlook In an environment of tepid economic growth, our sub-fund s portfolio manager will seek to invest in companies with unique opportunities to increase sales and earnings. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 226

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Bonds Cayman Islands 375,000 Agromercantil Senior Trust 6.250% 375,000 387,656 0.45 10/Apr/2019 375,000 387,656 0.45 France 750,000 Credit Agricole SA FRN 29/Jan/2049 750,000 769,958 0.89 750,000 769,958 0.89 Israel 500,000 Israel Electric Corp. 5.000% 12/Nov/2024 495,155 508,515 0.59 495,155 508,515 0.59 Luxembourg 245,000 Altice Financing SA 6.625% 15/Feb/2023 245,000 243,913 0.28 430,000 Altice SA 7.750% 15/May/2022 430,000 423,096 0.49 600,000 Wind Acquisition 7.375% 23/Apr/2021 600,000 611,832 0.71 1,275,000 1,278,841 1.48 Marshall Islands 540,000 Teekay Offshore Partners LP 6.000% 540,000 488,025 0.57 30/Jul/2019 540,000 488,025 0.57 Mexico 255,000 Office Depot de Mexico SAB de CV 6.875% 251,535 273,009 0.32 20/Sep/2020 251,535 273,009 0.32 Netherlands 600,000 ING Groep NV FRN 29/Dec/2049 600,500 579,354 0.67 600,500 579,354 0.67 Paraguay 175,000 Banco Regional Saeca 8.125% 24/Jan/2019 174,118 188,781 0.22 174,118 188,781 0.22 United Kingdom 415,000 HSBC Holdings plc FRN 29/Dec/2049 415,342 415,502 0.48 685,000 Inmarsat Finance plc 4.875% 15/May/2022 683,335 657,600 0.76 625,000 International Game Tech 6.500% 15/Feb/2025 619,250 581,587 0.68 815,000 Lloyds Banking Group plc FRN 30/Apr/2049 856,260 842,673 0.98 360,000 Virgin Media Secured Finance plc 5.375% 15/Apr/2021 362,800 368,372 0.43 2,936,987 2,865,734 3.33 United States 535,000 Access Midstream Partners LP 4.875% 551,461 530,856 0.62 15/Mar/2024 500,000 Aes Corp. 5.500% 15/Mar/2024 500,000 486,723 0.57 500,000 Alliance One International Inc. 9.875% 494,914 443,750 0.51 15/Jul/2021 350,000 American Axle & Manufacturing Holdings Inc. 343,875 395,922 0.46 7.750% 15/Nov/2019 227 MANULIFE GLOBAL FUND

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 600,000 Ashland Inc. 6.875% 15/May/2043 634,149 612,000 0.71 247,000 Avon Products Inc. 5.000% 15/Mar/2023 226,314 212,271 0.25 245,000 Ball Corp. 5.000% 15/Mar/2022 249,900 246,758 0.29 600,000 Ball Corp. 5.250% 1/Jul/2025 599,999 594,591 0.69 310,000 Boyd Gaming Corp. 6.875% 15/May/2023 310,425 317,270 0.37 500,000 Cablevision Systems 5.875% 15/Sep/2022 533,750 485,150 0.56 650,000 CHS Community Health Systems Inc. 680,188 686,576 0.80 6.875% 1/Feb/2022 875,000 Cincinnati Bell Inc. 8.375% 15/Oct/2020 929,062 918,220 1.06 1,000,000 Cooper Tire & Rubber Company 7.625% 1,035,000 1,060,000 1.23 15/Mar/2027 370,000 Davita Healthcare Partners Inc. 5.000% 370,000 357,159 0.41 1/May/2025 690,000 Davita Healthcare Partners Inc. 5.125% 694,000 682,551 0.79 15/Jul/2024 495,000 Dish Dbs Corp. 6.750% 1/Jun/2021 540,219 517,361 0.61 550,000 General Motors Company 4.000% 1/Apr/2025 537,449 538,815 0.63 500,000 General Motors Finl Company 3.450% 501,023 488,490 0.57 10/Apr/2022 350,000 Goldman Sachs Group Inc. FRN 29/Dec/2049 349,563 345,975 0.40 245,000 Graphic Packaging Holding Company 4.875% 245,590 246,838 0.29 15/Nov/2022 425,000 Graphic Packaging International Inc. 4.750% 442,803 430,597 0.50 15/Apr/2021 75,000 HCA Inc. 5.250% 15/Apr/2025 80,813 78,590 0.09 115,000 HCA Inc. 5.375% 1/Feb/2025 115,000 116,353 0.14 575,000 HCA Inc. 5.375% 1/Feb/2025 590,731 581,765 0.68 680,000 Healthsouth Corp. 5.125% 15/Mar/2023 694,500 684,250 0.79 1,050,000 Iron Mountain Inc. 6.000% 15/Aug/2023 1,077,563 1,100,463 1.27 600,000 L Brands Inc. 5.625% 15/Oct/2023 645,750 633,738 0.74 660,000 Lear Corp. 5.250% 15/Jan/2025 659,375 651,948 0.76 704,000 Limited Brands Inc. 6.950% 1/Mar/2033 753,665 739,337 0.86 175,000 McGraw-Hill Companies Inc. 6.550% 183,829 198,840 0.23 15/Nov/2037 242,000 Mellon Capital IV FRN 29/Jun/2049 203,496 198,745 0.23 165,000 Metropcs Wireless Inc. 6.250% 1/Apr/2021 167,242 169,570 0.20 355,000 MGM Mirage Inc. 7.625% 15/Jan/2017 356,775 377,685 0.44 420,000 MGM Resorts International 6.000% 433,500 426,205 0.49 15/Mar/2023 900,000 Nationstar Mortgage LLC 6.500% 1/Jun/2022 866,114 831,374 0.96 435,000 Navistar International Corp. 8.250% 426,776 416,365 0.48 1/Nov/2021 295,000 Post Holdings Inc. 7.375% 15/Feb/2022 302,313 302,933 0.35 740,000 Pvh Corp. 4.500% 15/Dec/2022 740,863 741,055 0.86 275,000 Radian Group Inc. 5.250% 15/Jun/2020 275,000 273,625 0.32 405,000 Reynolds Group Issuer Inc. 5.750% 417,918 416,099 0.48 15/Oct/2020 437,000 Rockwood Specialties Group Inc. 4.625% 447,925 454,122 0.53 15/Oct/2020 450,000 Seventy Seven Energy Inc. 6.500% 450,000 291,461 0.34 15/Jul/2022 270,000 SM Energy Company 5.625% 1/Jun/2025 274,363 267,656 0.31 MANULIFE GLOBAL FUND 228

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 500,000 Sprint Communications Inc. 6.000% 505,888 456,063 0.53 15/Nov/2022 500,000 Sprint Communications Inc. 8.375% 588,750 540,633 0.63 15/Aug/2017 600,000 Sprint Corp. 7.250% 15/Sep/2021 670,500 585,756 0.68 375,000 Sprint Nextel Corp. 7.000% 15/Aug/2020 399,520 372,056 0.43 300,000 Terraform Power Operating LLC 5.875% 312,750 306,975 0.35 1/Feb/2023 107,000 T-Mobile USA Inc. 6.125% 15/Jan/2022 107,000 110,334 0.13 330,000 T-Mobile USA Inc. 6.125% 15/Jan/2022 346,500 340,281 0.40 690,000 T-Mobile USA Inc. 6.731% 28/Apr/2022 724,725 721,585 0.84 235,000 T-Mobile USA Inc. 6.836% 28/Apr/2023 238,435 246,274 0.29 365,000 Transdigm Inc. 6.500% 15/Jul/2024 366,182 361,348 0.42 230,000 United Rentals North America Inc. 6.125% 230,000 235,175 0.27 15/Jun/2023 430,000 Walter Investment Management Corp. 430,000 397,750 0.46 7.875% 15/Dec/2021 175,000 Wellcare Health Plans Inc. 5.750% 182,875 182,656 0.21 15/Nov/2020 425,000 Whiting Petroleum Corp. 5.750% 434,563 421,808 0.49 15/Mar/2021 26,470,883 25,828,746 30.00 Bonds Total 33,869,178 33,168,619 38.52 Bonds convertibles United States 523 Bank of America Corp. 7.250% 31/Dec/2049 540,588 585,237 0.68 894 Wells Fargo & Company 7.500% 31/Dec/2049 1,125,155 1,057,021 1.22 1,665,743 1,642,258 1.90 Bonds convertibles Total 1,665,743 1,642,258 1.90 Equities Canada 35,854 Thompson Creek Metals Company Inc. 143,944 30,164 0.04 143,944 30,164 0.04 United States 970 Abitibowater Inc. 0 11,165 0.01 3,100 American Tower Corp. 310,000 316,231 0.37 900 Caterpillar Inc. 78,699 77,031 0.09 9,100 Exelon Corp. 454,065 421,239 0.49 12,146 General Motors Company 458,273 405,798 0.47 8,150 GMAC Capital Trust I 214,101 211,818 0.25 20,565 Hartford Financial Services Group Inc. 573,671 614,894 0.71 30,000 JPMorgan Chase & Company 750,000 712,500 0.83 229 MANULIFE GLOBAL FUND

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 6,132 Tyson Foods Inc. 306,600 321,501 0.37 4,220 Weyerhaeuser Company 220,194 222,816 0.26 3,365,603 3,314,993 3.85 Equities Total 3,509,547 3,345,157 3.89 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 39,044,468 38,156,034 44.31 Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities (2) Bonds Bermuda 345,000 Aircastle Limited 5.125% 15/Mar/2021 345,000 349,633 0.41 345,000 349,633 0.41 Canada 305,000 Thompson Creek Metals Company Inc. 281,560 251,625 0.29 7.375% 1/Jun/2018 281,560 251,625 0.29 Luxembourg 342,000 CHC Helicopter SA 9.250% 15/Oct/2020 337,214 260,134 0.30 250,000 Intelsat Luxembourg SA 8.125% 1/Jun/2023 263,495 206,875 0.24 600,709 467,009 0.54 Marshall Islands 500,000 Navios Maritime Acquisitions Corp. 8.125% 518,750 491,875 0.57 15/Nov/2021 500,000 Navios Maritime Holdings Inc. 7.375% 516,250 429,375 0.50 15/Jan/2022 1,035,000 921,250 1.07 Netherlands 250,000 Fiat Chrysler Automobiles NV 4.500% 250,000 249,395 0.29 15/Apr/2020 210,000 Fiat Chrysler Automobiles NV 5.250% 210,000 206,661 0.24 15/Apr/2023 460,000 456,056 0.53 United Kingdom 500,000 Tullow Oil plc 6.250% 15/Apr/2022 513,750 451,875 0.52 513,750 451,875 0.52 United States 200,000 Amc Entertainment Inc. P.P. 144A 5.750% 200,000 197,000 0.23 15/Jun/2025 415,000 AMC Entertainment Inc. 5.875% 15/Feb/2022 415,000 422,761 0.49 650,000 American Express Company FRN 29/Dec/2049 650,000 630,663 0.73 MANULIFE GLOBAL FUND 230

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 255,000 American Gilsonite Company P.P. 144A 274,528 232,688 0.27 11.500% 1/Sep/2017 290,000 California Resources 6.000% 15/Nov/2024 261,450 250,850 0.29 376,000 Cash America International 5.750% 387,258 382,580 0.44 15/May/2018 250,000 CCO Holdings LLC 5.125% 15/Feb/2023 248,438 244,203 0.28 500,000 CCO Holdings LLC 7.375% 1/Jun/2020 519,618 529,375 0.62 270,000 Chaparral Energy Inc. 7.625% 15/Nov/2022 207,000 195,531 0.23 275,000 Chemours Company P.P. 144A 6.625% 277,188 266,063 0.31 15/May/2023 250,000 Chemours Company 7.000% 15/May/2025 250,000 243,125 0.28 600,000 Chemtura Corp. 5.750% 15/Jul/2021 618,000 612,335 0.71 585,000 Chesapeake Energy Corp. 5.750% 580,969 527,761 0.61 15/Mar/2023 500,000 Cit Group Inc. 5.500% 15/Feb/2019 522,708 522,375 0.61 185,000 Citigroup Inc. FRN 29/Dec/2049 185,000 185,228 0.22 1,075,000 Citigroup Inc. FRN 29/Jul/2049 1,091,562 1,057,644 1.22 300,000 Clayton Williams Energy Inc. 7.750% 283,875 287,399 0.33 1/Apr/2019 191,398 Clear Channel Communications Inc. 14.000% 164,180 137,567 0.16 1/Feb/2021 500,000 Clear Channel Worldwide Holdings Inc. 531,249 519,904 0.61 6.500% 15/Nov/2022 290,000 Communications Sales & Leasing Inc. P.P. 281,460 284,780 0.33 144A 8.250% 15/Oct/2023 420,000 Compressco Partners LP P.P. 144A 7.250% 413,734 403,200 0.47 15/Aug/2022 260,000 Continental Resources Inc. 4.500% 239,728 252,483 0.29 15/Apr/2023 435,000 Credit Acceptance Corp. 6.125% 15/Feb/2021 444,305 438,263 0.51 405,000 Dana Holding Corp. 6.000% 15/Sep/2023 407,352 423,225 0.49 250,000 Dish Dbs Corp. 7.875% 1/Sep/2019 271,370 277,373 0.32 600,000 Dupont Fabros Technology LP 5.875% 611,250 609,000 0.71 15/Sep/2021 335,000 Dynegy Inc. P.P. 144A 7.375% 1/Nov/2022 335,000 355,100 0.41 495,000 Dynegy Inc. P.P. 144A 7.625% 1/Nov/2024 508,940 526,083 0.61 150,000 Endo Finance LLC P.P. 144A 6.000% 150,000 152,280 0.18 1/Feb/2025 600,000 Endo Finance LLC & Endo Finco Inc. P.P. 641,000 640,500 0.75 144A 7.250% 15/Jan/2022 660,000 Enova International Inc. 9.750% 1/Jun/2021 666,144 628,650 0.73 830,000 Ep Energy LLC 7.750% 1/Sep/2022 903,674 871,499 1.02 260,000 First Data Corp. 10.625% 15/Jun/2021 261,428 289,250 0.34 263,000 First Data Corp. 11.750% 15/Aug/2021 282,640 296,664 0.34 250,000 Frontier Communications Corp. 6.250% 250,000 230,141 0.27 15/Sep/2021 520,000 Gci Inc. 6.875% 15/Apr/2025 525,531 527,800 0.61 420,000 Global Partners-GLP Finance 6.250% 419,550 409,500 0.48 15/Jul/2022 315,000 Goodyear Tire & Rubber Company 7.000% 327,650 343,460 0.40 15/May/2022 300,000 Halcon Resources Corp. 9.750% 15/Jul/2020 225,250 204,315 0.24 650,000 HCA Inc. 5.250% 15/Apr/2025 650,000 681,116 0.79 231 MANULIFE GLOBAL FUND

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 500,000 HDTFS Inc. 6.250% 15/Oct/2022 516,250 513,373 0.60 265,000 IAC/Interactivecorp 4.875% 30/Nov/2018 265,000 273,944 0.32 641,000 Jo-Ann Stores Holdings Inc. P.P. 144A 9.750% 636,899 570,490 0.66 15/Oct/2019 800,000 JPMorgan Chase & Company FRN 29/ 872,000 851,159 0.99 Jan/2049 315,000 Level 3 Financing Inc. P.P. 144A 5.625% 315,000 318,336 0.37 1/Feb/2023 555,000 Linn Energy LLC 6.500% 15/Sep/2021 525,002 424,575 0.49 1,185,000 LMA Amerospace Inc. 7.375% 15/Jul/2019 1,191,625 1,185,000 1.38 145,000 Meritage Homes Corp. P.P. 144A 6.000% 145,000 145,363 0.17 1/Jun/2025 210,000 Mohegan Tribal Gaming Authority 9.750% 234,550 221,025 0.26 1/Sep/2021 230,000 Morgan Stanley FRN 29/Jul/2049 232,772 228,172 0.27 750,000 Morgan Stanley FRN 29/Dec/2049 757,031 743,389 0.86 655,000 Nationstar Mortgage LLC 7.875% 1/Oct/2020 671,403 652,544 0.76 150,000 Newstar Financial Inc. P.P. 144A 7.250% 150,000 154,500 0.18 1/May/2020 335,000 NRG Yield Operating LLC P.P. 144A 5.375% 335,000 339,188 0.39 15/Aug/2024 400,000 Outfront Media Cap LLC 5.625% 15/Feb/2024 400,000 411,204 0.48 145,000 Penn Virginia Corp. 8.500% 1/May/2020 132,218 131,225 0.15 325,000 Rex Energy Corp. 6.250% 1/Aug/2022 325,000 258,375 0.30 515,000 SBA Companymunications 4.875% 509,203 502,769 0.58 15/Jul/2022 435,000 Select Medical Corp. 6.375% 1/Jun/2021 440,226 438,263 0.51 345,000 Sinclair Television Group Inc. 6.375% 345,000 358,800 0.42 1/Nov/2021 620,000 Summit Midstream Holdings LLC 7.500% 659,000 654,100 0.76 1/Jul/2021 1,125,000 Tenet Healthcare Corp. 4.375% 1/Oct/2021 1,063,906 1,099,687 1.28 185,000 Trinity Industries Inc. 4.550% 1/Oct/2024 181,763 178,630 0.21 200,000 United Rentals North America Inc. 4.625% 200,000 196,019 0.23 15/Jul/2023 375,000 United Rentals North America Inc. 5.500% 375,000 362,850 0.42 15/Jul/2025 390,000 Vector Group Limited 7.750% 15/Feb/2021 406,012 421,200 0.49 640,000 Wells Fargo & Company FRN 29/Dec/2049 643,150 643,312 0.75 900,000 Windstream Corp. 6.375% 1/Aug/2023 860,554 732,374 0.84 260,000 Zions Bancorporation FRN 29/Dec/2049 260,000 246,654 0.29 30,132,593 29,546,254 34.34 Bonds Total 33,368,612 32,443,702 37.70 Bonds convertibles United States 400,000 Trinity Industries Inc. 3.875% 1/Jun/2036 558,000 513,536 0.60 558,000 513,536 0.60 Bonds convertibles Total 558,000 513,536 0.60 MANULIFE GLOBAL FUND 232

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Equities United States 600 Ally Financial Inc Preferred 603,941 609,487 0.70 603,941 609,487 0.70 Equities Total 603,941 609,487 0.70 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities (2) 34,530,553 33,566,725 39.00 Other transferable securities and money market instruments (2) Mortgage and Asset Backed Securities Cayman Islands 30,818 Lehman XS Net Interest Margin Notes 9.000% 28/Jan/2047 29,104 0 0.00 29,104 0 0.00 Mortgage and Asset Backed Securities Total 29,104 0 0.00 Bonds Australia 465,000 FMG Resources 6.875% 1/Apr/2022 434,774 331,312 0.39 434,774 331,312 0.39 Austria 241,000 Sappi Papier Holding GmbH 7.750% 242,900 257,870 0.30 15/Jul/2017 242,900 257,870 0.30 Canada 420,000 Air Canada 8.750% 1/Apr/2020 451,043 466,200 0.54 315,000 Vpii Escrow Corp. P.P. 144A 7.500% 321,831 339,806 0.39 15/Jul/2021 772,874 806,006 0.93 Luxembourg 435,000 Mallinckrodt 5.750% 1/Aug/2022 442,433 445,875 0.52 442,433 445,875 0.52 United Kingdom 420,000 Paragon Offshore plc 7.250% 15/Aug/2024 181,150 138,600 0.16 600,000 Tullow Oil plc 6.000% 1/Nov/2020 613,499 547,442 0.64 794,649 686,042 0.80 United States 260,000 American Energy-Permian Basin 7.125% 260,000 178,100 0.21 1/Nov/2020 400,000 CEB Inc. P.P. 144A 5.625% 15/Jun/2023 400,000 404,500 0.47 233 MANULIFE GLOBAL FUND

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 110,000 Consolidated Container Company LLC P.P. 115,940 100,100 0.12 144A 10.125% 15/Jul/2020 200,000 Djo Finco Inc. P.P. 144A 8.125% 15/Jun/2021 200,000 204,834 0.24 295,000 Energy Xxi Gulf Companyast Inc. P.P. 144A 284,305 258,863 0.30 11.000% 15/Mar/2020 175,000 Nwh Escrow Corp. P.P. 144A 7.500% 164,500 166,906 0.19 1/Aug/2021 250,000 Optimas Oe Solution Holding 8.625% 250,000 255,000 0.30 1/Jun/2021 155,000 Rain CII Carbon LLC P.P. 144A 8.000% 161,160 152,288 0.18 1/Dec/2018 525,000 Rki Exploration & Production P.P. 144A 525,000 523,688 0.61 8.500% 1/Aug/2021 675,000 Sidewinder Drilling P.P. 144A 9.750% 672,937 428,625 0.50 15/Nov/2019 395,000 Sirius XM Radio Inc. 6.000% 15/Jul/2024 400,925 399,610 0.46 875,000 Southern States Cooperative P.P. 144A 862,250 822,500 0.96 10.000% 15/Aug/2021 1,440,000 Stone Company 0.000% 15/Mar/2017 a 0 720 0.00 250,000 Terraform Power Operating LLC P.P. 144A 259,688 255,000 0.30 5.875% 1/Feb/2023 450,000 XPO Logistics Inc. P.P. 144A 6.500% 450,000 443,250 0.51 15/Jun/2022 480,000 Zf North America Capital Inc. P.P. 144A 475,296 464,810 0.54 4.750% 29/Apr/2025 5,482,001 5,058,794 5.89 Bonds Total 8,169,631 7,585,899 8.83 Equities United States 7,769 Muzak Holdings Escrow 0 0 0.00 27,353 Trump Entertainment Resorts Inc. a 2,371,748 3 0.00 4,462 Vertis Holdings Inc. a 461,111 0 0.00 2,832,859 3 0.00 Equities Total 2,832,859 3 0.00 MANULIFE GLOBAL FUND 234

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Warrants Equity Canada 8,881 Warrant On Mood Media Corp. Wts 1/Jan/2049 a 169,102 0 0.00 169,102 0 0.00 Warrants Equity Total 169,102 0 0.00 Total Other transferable securities and money market instruments (2) 11,200,696 7,585,902 8.83 Portfolio of Investments 84,775,717 79,308,661 92.14 Other Net Assets 6,766,227 7.86 Net Assets 86,074,888 100.00 a Defaulted/Fair Valued by the Board of Directors. (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements. 235 MANULIFE GLOBAL FUND

U.S. SPECIAL OPPORTUNITIES FUND Investment Objective: The sub fund aims to maximize total returns from a combination of current income and capital appreciation. To pursue this objective, the sub-fund will primarily invest in U.S. and foreign fixed-income securities rated BB/Ba or lower and their unrated equivalents. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* U.S. Special Opportunities Fund Class AA -6.01% U.S. Special Opportunities Fund Class T -6.08% U.S. Special Opportunities Fund Class I -6.68% BofA Merrill US High Yield Master II Index -0.55% PERFORMANCE FROM 20 AugUST 2014 TO 30 June 2015* U.S. Special Opportunities Fund Class AA (HKD) -6.01% PERFORMANCE FROM 21 AugUST 2014 TO 30 June 2015* U.S. Special Opportunities Fund Class AA Inc -5.58% Portfolio Review The Share Class AA returned -6.01% for the period, compared to the BofA Merrill Lynch U.S. High Yield Master II Index return of -0.55%. Security selection contributed to the Sub-fund s performance over the period. Top individual contributors to performance included the Sub-fund s holdings in Air Canada, Dynegy Inc. and DS Services of America, Inc. The Sub-fund s allocation to the energy sector detracted from performance. The Sub-fund s exposure to CCC-rated bonds also detracted from its performance. Significant individual detractors included the Subfund s holdings in Samson Investment Company, Midstates Petroleum Company, Inc. and Arch Coal, Inc. Market Review The market environment was generally favorable for credit over the period. During the second half of 2014, markets grew increasingly volatile in response to a sharp decline in crude oil prices and geopolitical concerns in Eastern Europe and the Middle East. The first half of 2015 was calmer as oil prices rebounded somewhat, although uncertainty increased near the end of the period as a result of the breakdown in Greece s sovereign debt negotiations with its creditors. Outlook Our sub-fund s portfolio manager have a positive outlook for credit fundamentals in the coming period, anticipating low default rates and favorable maturity profiles. They continue to be mindful of interest rate risks as they believe the Fed is likely to raise interest rates sometime later in 2015, which would be its first rate hike since the 2008 recession. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 236

U.S. Treasury Inflation-Protected Securities Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Transferable securities and money market instruments admitted to an official exchange listing (1) Supranationals, Governments and Local Public Authorities, Debt Instruments United States 55,000 United States Treasury Inflation Indexed Bonds 4.497% 15/Apr/2032 110,000 United States Treasury Inflation Indexed Bonds 5.300% 15/Apr/2028 45,000 United States Treasury Inflation Indexed N/B 5.574% 15/Apr/2029 104,425 103,571 1.24 208,567 219,740 2.62 91,961 91,936 1.10 404,953 415,247 4.96 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 404,953 415,247 4.96 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 404,953 415,247 4.96 Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities (2) Supranationals, Governments and Local Public Authorities, Debt Instruments United States 85,000 Federal National Mortgage Association 3.000% 29/Oct/2027 300,000 United States Treasury Inflation Indexed Bonds 1.125% 15/Jan/2021 175,000 United States Treasury Inflation Indexed N/B 0.124% 15/Jul/2024 210,000 United States Treasury Inflation Indexed N/B 0.126% 15/Apr/2019 750,000 United States Treasury Inflation Indexed N/B 0.128% 15/Apr/2018 440,000 United States Treasury Inflation Indexed N/B 0.128% 15/Jan/2023 475,000 United States Treasury Inflation Indexed N/B 0.129% 15/Jul/2022 505,000 United States Treasury Inflation Indexed N/B 0.130% 15/Apr/2017 300,000 United States Treasury Inflation Indexed N/B 0.131% 15/Jan/2022 84,894 81,718 0.98 344,389 343,651 4.10 174,750 170,472 2.03 217,007 214,818 2.56 781,535 779,583 9.30 448,774 443,966 5.30 515,421 486,018 5.80 541,390 533,205 6.36 316,253 311,351 3.72 237 MANULIFE GLOBAL FUND

U.S. Treasury Inflation-Protected Securities Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 460,000 United States Treasury Inflation Indexed N/B 0.376% 15/Jul/2023 445,000 United States Treasury Inflation Indexed N/B 0.629% 15/Jan/2024 210,000 United States Treasury Inflation Indexed N/B 0.643% 15/Feb/2043 330,000 United States Treasury Inflation Indexed N/B 0.656% 15/Jul/2021 150,000 United States Treasury Inflation Indexed N/B 0.785% 15/Feb/2042 260,000 United States Treasury Inflation Indexed N/B 1.355% 15/Jul/2020 165,000 United States Treasury Inflation Indexed N/B 1.395% 15/Feb/2044 205,000 United States Treasury Inflation Indexed N/B 1.504% 15/Jan/2020 185,000 United States Treasury Inflation Indexed N/B 1.508% 15/Jul/2018 175,000 United States Treasury Inflation Indexed N/B 1.834% 15/Jan/2018 155,000 United States Treasury Inflation Indexed N/B 1.975% 15/Jan/2028 100,000 United States Treasury Inflation Indexed N/B FRN 15/Feb/2041 100,000 United States Treasury Inflation Indexed N/B 2.325% 15/Feb/2040 150,000 United States Treasury Inflation Indexed N/B 2.341% 15/Jan/2019 140,000 United States Treasury Inflation Indexed N/B 2.383% 15/Jan/2026 140,000 United States Treasury Inflation Indexed N/B 2.754% 15/Jan/2029 100,000 United States Treasury Inflation Indexed N/B 2.785% 15/Jan/2017 110,000 United States Treasury Inflation Indexed N/B 2.785% 15/Jan/2027 289,000 United States Treasury Inflation Indexed N/B 2.980% 15/Jan/2025 456,677 470,230 5.61 462,209 459,818 5.49 210,717 192,151 2.29 367,650 358,126 4.27 162,850 144,693 1.73 301,141 302,114 3.61 178,065 179,088 2.14 244,400 240,030 2.86 221,479 215,246 2.57 214,513 208,834 2.49 166,875 198,657 2.37 131,804 134,254 1.60 149,830 135,079 1.61 183,283 180,009 2.15 184,838 191,962 2.29 207,250 190,560 2.27 131,813 123,070 1.47 124,262 154,675 1.85 432,801 427,577 5.10 7,956,870 7,870,955 93.92 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 7,956,870 7,870,955 93.92 MANULIFE GLOBAL FUND 238

U.S. Treasury Inflation-Protected Securities Fund Portfolio of Investments as at 30 June 2015 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Mortgage and Asset Backed Securities United States 207,724 Fannie Mae Remics 3.500% 25/Dec/2032 50,313 39,463 0.48 50,313 39,463 0.48 Mortgage and Asset Backed Securities Total 50,313 39,463 0.48 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities (2) 8,007,183 7,910,418 94.40 Other transferable securities and money market instruments (2) Mortgage and Asset Backed Securities United States 25,694 Bear Stearns Asset Backed Securities 5.750% 25/Oct/2034 303,016 Indymac Index Mortgage Loan Trust FRN 25/Oct/2036 26,544 26,295 0.31 16,690 10,121 0.12 43,234 36,416 0.43 Mortgage and Asset Backed Securities Total 43,234 36,416 0.43 Total Other transferable securities and money 43,234 36,416 0.43 market instruments (2) Portfolio of Investments 8,455,370 8,362,081 99.79 Other Net Assets 17,843 0.21 Net Assets 8,379,924 100.00 (1) All securities classified under this section are listed on a stock-exchange. (2) All securities classified under this section are unlisted. The notes to the Financial Statements form an integral part of these financial statements. 239 MANULIFE GLOBAL FUND

U.S. Treasury Inflation-Protected Securities Fund Investment Objective: The primary objective of this sub-fund is to maximize total returns, consistent with capital preservation, by investing in U.S. Treasury Inflation Protected Securities. In addition, the subfund may also invest in other types of inflation-indexed and non-inflation-indexed debt securities issued or guaranteed by the U.S. government, its agencies, instrumentalities and political sub-divisions. PERFORMANCE FROM 1 JULY 2014 TO 30 June 2015* U.S. Treasury Inflation-Protected Securities Fund Class AA -2.87% Barclays Capital U.S. Treasury inflation-protected securities Index -1.73% Portfolio Review The Sub-fund returned -2.87% for the period, compared to the Barclays U.S. TIPS Index return of 1.73%. The Sub-fund s maturity structure added value during the period. For much of the period, the Sub-fund emphasized long-term TIPS, which outperformed in the last half of 2014 and into early 2015. The Subfund shifted to an underweight position in long-term TIPS near the end of the period, and this positioning contributed to performance as longer-maturity TIPS underperformed over the last three months of the period. Approximately 3% of the portfolio was invested in non-tips, primarily residential and commercial mortgage-backed securities. This position contributed to performance as mortgage-backed securities were among the best performers in the bond market. A longer duration relative to the Index aided the Sub-fund s performance in early 2015 when TIPS yields declined. Toward the end of the reporting period, the Sub-fund shifted to a shorter duration than the Index, and this paid off as TIPS yields rose during the last two months of the period. However, the Sub-fund s duration positioning detracted slightly from overall performance compared with the Index. The Sub-fund s duration was longer than that of the Index during the first half of the period, and this positioning weighed on performance as TIPS yields generally rose. Market Review U.S. Treasury inflation-protected securities ( TIPS ) posted negative returns for the 12 months ended June 30, 2015, as a lack of demand for inflation protection weighed on the TIPS market. Inflation slowed significantly during the period. For the 12 months ended May 31, 2015 (the most recent data available), the consumer price index was unchanged, compared with a 2.1% increase for the prior 12 months. The primary factor behind the declining inflation rate was a 16% drop in energy prices, driven by growing energy production in the U.S. and weaker demand from slowing economies elsewhere in the world. From an economic perspective, the U.S. economy began the period on a positive note, growing at an annual rate of 5% in the third quarter of 2014, the fastest quarterly growth rate in 11 years. At the same time, the U.S. Federal Reserve Board ( Fed ) ended its quantitative easing program and signaled its intent to raise short-term interest rates sometime in 2015. Economic activity eased somewhat in the fourth quarter of 2014. It then slowed dramatically in the first quarter of 2015 as a combination of severe winter weather, a West Coast port shutdown and a stronger U.S. dollar led to a modest economic contraction. Although economic data improved toward the end of the period, the Fed pushed back its plan to raise interest rates until later in 2015. The lack of inflationary pressure led to a broad rise in TIPS yields for the period. Short-term TIPS yields increased the most, as the two-year TIPS yield moved up from -1.32% to -0.59%, while the five-year TIPS yield rose from -0.48% to -0.04%. Longer-term TIPS yields experienced a modest rise, as the 10- year TIPS yield increased from 0.26% to 0.47%, while the 30-year TIPS yield edged up from 1.01% to 1.12%. The 10-year breakeven inflation rate, which reflects the market s inflation expectations for the next 10 years, narrowed over the period, declining from 2.29% to 1.90%. * The performance return of the fund is calculated in U.S. dollar terms and includes dividends re-invested; whereas the index (or indices) is calculated in U.S. dollar terms and on total return basis. MANULIFE GLOBAL FUND 240

U.S. Treasury Inflation-Protected Securities Fund Outlook Our sub-fund s portfolio manager expect the recent improvement in the U.S. economy to continue during the second half of the year, leading the Fed to raise its short-term interest rate target before year-end. They expect that the Fed s first rate hike since 2006 will occur in either September or December. At the same time, a lack of wage growth is likely to keep a lid on the inflation rate. Given these expectations, they intend to maintain the Sub-fund s current positioning, with a slightly shorter duration compared with the Index and a small position in non-tips. 241 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 1 General Manulife Global Fund (the Company ) was incorporated on 7 July 1987 as an open-ended investment company and is organised as a Société d Investissement à Capital Variable ( SICAV ) under Part I of the Law of 17 December 2010 as amended, of the Grand Duchy of Luxembourg. The Company maintains separate accounts for each sub-fund to which the proceeds of issue of shares and the income arising from the investment of those proceeds are credited and against which expenses are allocated and charged, as appropriate, on an equitable basis. Upon redemption, shareholders are entitled only to their proportion of the net assets, as reflected in the relevant Net Asset Value, held in the account relating to the sub-fund in which their class of shares is designated. Separate Statements of Operations, Net Assets and Changes in Net Assets have accordingly been prepared for each sub-fund. As of 30 June 2015, the Company is comprised of 26 sub-funds: American Growth Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund India Equity Fund International Growth Fund Japanese Growth Fund Latin America Equity Fund Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Please refer to the prospectus of the Company for details on the availability of respective share classes in the relevant jurisdictions. MANULIFE GLOBAL FUND 242

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 2 Accounting policies 2.1 Presentation of Financial Statements The financial statements are prepared in accordance with Luxembourg regulations relating to undertakings for collective investments. 2.2 Investments Listed securities and securities dealt in on another regulated market are valued on the basis of their last available market price at the Valuation Point on the year end date. The prospectus defines the Valuation Point as 4:00 p.m. (Luxembourg time) on each Business Day (or such other time as may be otherwise determined by the Directors). Non-listed securities and money market instruments listed or dealt on a regulated market but in respect of which the last sales price is not representative of the fair value, are valued on the basis of their probable sales prices as determined with prudence and in good faith by the Board of Directors upon the advice of the Investment Managers. Liquid assets are valued at their face value with interest accrued; in the case of short-term instruments (especially discount instruments) that have a maturity of less than 90 days, the value of the instrument based on the net acquisition cost, is gradually adjusted to the repurchase price thereof while the investment return calculated on the net acquisition cost is kept constant. In the event of material changes in market conditions, the valuation basis of the investment is adjusted to the new market yields. In the event of it being impossible or incorrect to carry out a valuation in accordance with the above rules owing to particular circumstances, the Board of Directors is entitled to use other generally recognized valuation principles upon the advice of the Investment Managers, in order to reach a proper valuation of the Company s total assets. Units of underlying UCI and UCITS (target funds) are valued on the basis of their last available Net Asset Value per unit or share reduced by any applicable charges. Realised gains and losses on sales of investments in securities are determined on the basis of average cost. Any resulting gains or losses are recognized in the Statement of Changes in Net Assets under the heading Net profits/(losses) realised on sale of investments and options. The net change in unrealised appreciation/(depreciation) on investments and options is included in the Statement of Changes in Net Assets under the heading Net change in unrealised appreciation/(depreciation) on investments and options. Brokerage charges are taken into account in calculating the cost of investments. As approved by the pricing committee, the valuation of Renminbi ( RMB ) Bonds, denominated in Chinese Renminbi ( CNY ) and traded through Hong Kong or Singapore, is done at the Hong Kong delivered Chinese Renminbi ( CNH ) foreign exchange rate. All securities subject to this specific pricing process are indicated in the portfolios with a **. 2.3 Investment Income Dividends are credited to income on the date upon which the relevant securities are first listed as ex-dividend, net of any irrecoverable withholding tax. Bond and deposit interest income is accrued on a daily basis. 2.4 Foreign currency transaction Amounts included in the Statement of Operations in foreign currency are translated into the accounting currency of the respective sub-funds at rates of exchange prevailing on the date of the transaction. Resulting translation gains and losses are recognized in the Statement of Operations in the year in which they occur. 243 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 2 Accounting policies (continued) 2.4 Foreign currency transaction (continued) The financial statements and accounting records of each sub-fund are expressed in the reference currency of the relevant sub-fund. Transactions in currencies other than the subfunds currency are translated into the sub-funds currency based on the exchange rates in effect at the date of the transaction. Assets and liabilities denominated in other currencies are translated at the rate of exchange prevailing at the balance sheet date. Any resulting gains or losses are recognized in the Statement of Changes in Net Assets under the heading Net profits/(losses) realised on foreign currency. The main exchange rates used as of 30 June 2015 are: 1 USD = 9.082075 ARS 1 USD = 1.475470 NZD 1.296512 AUD 3.172498 PEN 3.096397 BRL 45.089729 PHP 1.243551 CAD 3.741003 PLN 0.929900 CHF 3.992255 RON 638.977636 CLP 55.794231 RUB 6.204436 CNY 8.246199 SEK 2590.673575 COP 1.345900 SGD 24.313745 CZK 33.775796 THB 6.662447 DKK 2.677900 TRY 0.893056 EUR 30.854674 TWD 0.634820 GBP 12.160125 ZAR 7.752178 HKD 281.067043 HUF 13333.333333 IDR 63.678044 INR 122.354991 JPY 1115.448968 KRW 15.655577 MXN 3.773001 MYR 7.846707 NOK MANULIFE GLOBAL FUND 244

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 2 Accounting policies (continued) 2.5 Futures contracts Outstanding futures contracts are valued at the reporting date at the last available market price of the instruments. The net change in unrealised appreciation/(depreciation) on futures is included in the Statement of Changes in Net Assets under the heading Net change in unrealised appreciation/(depreciation) on futures contracts. All margin amounts are included in Cash at bank. The realised gain/(loss) on futures contracts is disclosed in the Statement of Changes in Net Assets under the heading Net profits/(losses) realised on futures contracts. 2.6 Forward Foreign exchange contracts Outstanding forward foreign exchange contracts are valued at the reporting date at the last available market price of the contract. The unrealised appreciation/(depreciation) on forward foreign exchange contracts is included in the Statement of Changes in Net Assets under the heading Net change in unrealised appreciation/(depreciation) on forward foreign exchange contracts. Any resulting gains or losses are recognized in the Statement of Changes in Net Assets under the heading Net profits/(losses) realised on forward foreign exchange contracts. The net change in unrealised appreciation/(depreciation) on forward foreign exchange contracts is included in the Statement of Changes in Net Assets under the heading Net change in unrealised appreciation/(depreciation) on forward foreign exchange contracts. 2.7 Consolidation The Company incorporated a Cypriot subsidiary, GFM Holdings (Cyprus) Limited, on 30 August 1996 (on behalf of the Emerging Eastern Europe Fund and the Russia Equity Fund). The Cypriot subsidiary is wholly owned and makes investments according to the Company s investment policy. The Company invests through the Cypriot subsidiary in order to minimize the tax costs of investing in Russia. The consolidated statements of the Emerging Eastern Europe Fund and the Russia Equity Fund include the assets and liabilities of the respective sub-fund held by the subsidiary and the gains and losses of the respective sub-fund incurred by the subsidiary. 2.8 Formation expenses Formation expenses are amortized over five years commencing from the inception date of the relevant share classes of the relevant sub-funds. 2.9 Combined figures The combined Statement of Net Assets, the combined Statement of Operations and the Combined Statement of Changes in Net Assets are expressed in United States Dollars. For this purpose, the corresponding statements of each sub-fund have been translated into United States Dollars at the exchange rate prevailing at the balance sheet date. 245 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 3 Expenses 3.1 Management Fees The General Adviser is entitled to receive management fees at the percentage specified below per annum on the net asset value of the relevant class of shares in the relevant sub-fund, accrued and calculated on each Business Day and payable monthly in arrears: Sub-Fund Class AA Class AA Class AA Class S Class A Class AA (HKD) (HKD) Inc Inc Class HA Class HC Class HI Class I Class I2 Class l3 Class J Class S Hedge Class T Annual Annual Annual Annual Annual Annual Annual Annual Annual Annual Annual Annual Annual Annual Annual Fee Fee Fee Fee Fee Fee Fee Fee Fee Fee Fee Fee Fee Fee Fee (as a % p.a. of the net asset value of the relevant Class) (as a % p.a. of the net asset value of the relevant Class) (as a % p.a. of the net asset value of the relevant Class) (as a % p.a. of the net asset value of the relevant Class) (as a % p.a. of the net asset value of the relevant Class) (as a % p.a. of the net asset value of the relevant Class) (as a % p.a. of the net asset value of the relevant Class) (as a % p.a. of the net asset value of the relevant Class) (as a maximum % p.a. of the net asset value of the relevant Class) (as a maximum % p.a. of the net asset value of the relevant Class) (as a maximum % p.a. of the net asset value of the relevant Class) (as a maximum % p.a. of the net asset value of the relevant Class) (as a % p.a. of the net asset value of the relevant Class) (as a % p.a. of the net asset value of the relevant Class) (as a % p.a. of the net asset value of the relevant Class) Equity Funds: American Growth Fund 1.50% 1.75% 1.75% N/A N/A 2.00% 2.30% 1.60% 1.10% 0.90% N/A N/A N/A N/A N/A Asia Value Dividend Equity Fund N/A 1.75% N/A N/A 1.75% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Asian Equity Fund 1.50% 1.75% N/A N/A N/A N/A N/A N/A 1.10% N/A N/A N/A N/A N/A N/A Asian Small Cap Equity Fund N/A 1.75% 1.75% N/A N/A 2.20% 2.50% 1.70% 1.10% 0.90% N/A N/A N/A N/A N/A China Value Fund 1.50% 1.75% N/A N/A N/A 2.00% 2.30% 1.60% N/A N/A N/A N/A N/A N/A N/A Dragon Growth Fund 1.50% N/A 1.75% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Emerging Eastern Europe Fund 1.50% 1.75% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A European Growth Fund 1.50% 1.75% N/A N/A N/A N/A N/A N/A 1.10% N/A N/A N/A N/A N/A N/A Global Contrarian Fund N/A 1.75% 1.75% N/A N/A 2.00% 2.30% 1.60% 1.10% 0.90% N/A N/A 1.50% N/A N/A Global Property Fund N/A 1.75% 1.75% N/A N/A N/A N/A N/A 1.10% N/A N/A N/A N/A N/A N/A Global Resources Fund N/A 1.75% N/A N/A N/A N/A N/A N/A 1.10% N/A N/A N/A N/A N/A N/A Greater China Opportunities Fund N/A 1.75% N/A N/A N/A N/A N/A N/A 1.10% N/A N/A N/A N/A N/A N/A Healthcare Fund N/A 1.75% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A India Equity Fund N/A 1.75% N/A N/A N/A N/A N/A N/A N/A 0.90% N/A N/A N/A N/A N/A International Growth Fund 1.50% 1.75% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Japanese Growth Fund 1.50% 1.75% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Latin America Equity Fund N/A 1.75% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Russia Equity Fund N/A 1.75% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Taiwan Equity Fund N/A 1.75% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Turkey Equity Fund N/A 1.75% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A U.S. Small Cap Equity Fund N/A 1.75% 1.75% N/A 1.75% 2.00% 2.30% 1.60% 1.10% N/A N/A N/A N/A N/A N/A Bond Funds: Asia Total Return Fund N/A 1.25% 1.25% 1.25% 1.25% 1.50% 2.00% 1.10% 1.00%* 0.60% N/A 0.50% N/A 1.25% N/A Strategic Income Fund N/A 1.25% 1.25% 1.25% 1.25% 1.60% 2.10% 1.20% 1.10% 0.60% N/A 1.75% N/A 1.25% N/A U.S. Bond Fund N/A 1.25% 1.25% 1.25% 1.25% 1.50% 2.00% 1.10% 1.10% N/A N/A N/A N/A N/A N/A U.S. Special Opportunities Fund N/A 1.25% 1.25% 1.25% 1.25% N/A N/A N/A 1.10% 0.60% N/A N/A N/A N/A 1.25% U.S. Treasury Inflation- Protected Securities Fund N/A 1.25% N/A N/A 1.25% N/A N/A N/A 1.10% 0.60% N/A N/A N/A N/A N/A The annual management fees payable by the sub-funds may be increased to a maximum of 6% of the Net Asset Value of the relevant sub-fund by giving not less than three months prior notice of the proposed increase to the Custodian and to the Shareholders of the relevant sub-fund. Any increases beyond the permitted maximum rate of 6% as prescribed in the Articles of Incorporation will require the approval of the Shareholders of the relevant sub-fund(s) passed by extraordinary resolution. * Reduced to 0.50% with effect from 21 August 2013 till 31 October 2014 MANULIFE GLOBAL FUND 246

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 3 Expenses (continued) 3.2 Performance Fee In addition to the management fee, an annual performance fee may be paid in respect of each of the Classes A, AA and AA Inc Shares if the Net Asset Value per Share of the relevant Class at the end of any particular performance period (after taking into account the performance fee accrued but unpaid for the performance period) is in excess of the target Net Asset Value per Share for that Class (the Excess Return ). Performance fees can be levied in respect of each of the Classes AA (AUD Hedged), AA (CAD Hedged), AA (HKD), AA (AUD Hedged) Inc, AA (CAD Hedged) Inc, AA (HKD) Inc, HA, HC, HI, I, I2, I2 SGD Hedged, I3, S, S Hedged and T Shares. Currently, no performance fees are levied in respect of each of the Classes AA (AUD Hedged), AA (CAD Hedged), AA (HKD), AA (AUD Hedged) Inc, AA (CAD Hedged) Inc, AA (HKD) Inc, HA, HC, HI, I, I2, I2 SGD Hedged, I3, S, S Hedged and T Shares. However, the right to do so in respect of each of the Classes AA (AUD Hedged), AA (CAD Hedged), AA (HKD), AA (AUD Hedged) Inc, AA (CAD Hedged) Inc, AA (HKD) Inc, HA, HC, HI, I, I2, I2 SGD Hedged, I3, S, S Hedged and T Shares on such fee rate and calculation methodology to be determined is reserved, if the Directors so determine in the future. In the event of the imposition of such performance fees on any of the Classes AA (AUD Hedged), AA (CAD Hedged), AA (HKD), AA (AUD Hedged) Inc, AA (CAD Hedged) Inc, AA (HKD) Inc, HA, HC, HI, I, I2, I2 SGD Hedged, I3, S, S Hedged and T Shares, at least one month s notice (or such shorter notice as agreed with the relevant Shareholders of the relevant Class(es)) would be given. No performance fees are payable in respect of Class J Shares. Performance fees in respect of the Class A, Class AA and Class AA Inc Shares may be payable, equivalent to a maximum of 20% of such Excess Return multiplied by the average number of Shares in the relevant Class in issue during the performance period by reference to which the fee is payable. The target Net Asset Value per Share in each Class for the end of any particular performance period will be either: (a) (applicable to Asia Total Return Fund (up to 16 June 2014) and Asia Value Dividend Equity Fund only) the higher of (i) the target Net Asset Value per Share for the immediately preceding performance period; and (ii) the Net Asset Value per Share as at the close of business on the last Business Day in the immediately preceding performance period (after taking into account the performance fee paid for that performance period) (the Low Tide Mark ); or (b) (applicable to all other sub-funds) 110% (adjusted proportionally for any period of more or less than 12 months) of such Low Tide Mark (the 10% Hurdle Return ) (the Target Net Asset Value per Share ). The initial Target Net Asset Value per Share for a Class will be either: (a) (applicable to Asia Total Return Fund (up to 16 June 2014) only) its initial offering price per Share; or (b) (applicable to all other sub-funds) 110% (adjusted proportionally for any period of less than 12 months) of its initial offering price per Share. A performance fee rate of up to the maximum rate of 20% may be imposed. In the event of any increase of performance fee from the current rate up to the maximum rate of 20%, at least one month s prior notice would be given to affected Shareholders. The actual performance fee payable by, and the Target Net Asset Value Per Share applicable to, each sub-fund is set out in the table below: Performance Fee (as a % of the Excess Return) Target Net Asset Class A Class AA Class AA Inc Class T Value per Share Asia Total Return Fund*, ** N/A 10% N/A N/A Low Tide Mark Asia Value Dividend Equity Fund N/A 15% 15% N/A Low Tide Mark All other Sub-Funds*** 8% 8% N/A 8% 10% Hurdle Return * This fee is waived since inception ** Up to 16 June 2014 only *** Starting 17 June 2014 only applicable to China Value Fund, Emerging Eastern Europe Fund, Latin America Equity Fund and Turkey Equity Fund. 247 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 3 Expenses (continued) 3.2 Performance Fee (continued) All performance fees applicable to Class A, Class AA and Class T Shares (as applicable) of the following sub-funds of the Company (in respect of which any of Manulife Asset Management (Hong Kong) Limited, Manulife Asset Management (US) LLC and Manulife Asset Management (Europe) Limited (as the case may be) currently acts as Investment Manager) are no longer payable with effect from 16 June 2014. Manulife Asset Management (Hong Kong) Limited Manulife Asset Management (US) LLC Manulife Asset Management (Europe) Limited Asia Total Return Fund American Growth Fund European Growth Fund Asian Equity Fund Global Contrarian Fund International Growth Fund Asian Small Cap Equity Fund Global Property Fund Dragon Growth Fund Global Resources Fund India Equity Fund Healthcare Fund Japanese Growth Fund Strategic Income Fund Taiwan Equity Fund U.S. Bond Fund U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund No performance fees have accrued, or are payable, in respect of Class A, Class AA or Class T Shares of any of the above sub-funds for the current performance period. The performance fee payable by each sub-fund is accrued on each Business Day throughout the relevant performance period and is payable as soon as reasonably practicable after the end of such performance period. The accrual is made based on the Net Asset Value per Share on each Business Day. If it exceeds the Target Net Asset Value per Share for that Class, a performance fee accrual will be made. If not, no performance fee accrual will be made. On each Business Day, the accrual made on the previous Business Day will continue to be reversed and a new performance fee accrual will be calculated and made in accordance with the above. The standing policy of the Company is that a relevant sub-fund which is entitled to levy a performance fee does not perform equalisation or issue different series of shares for the purposes of determining the performance fee payable. The Company s methodology for calculating the performance fee involves adjusting the issue and redemption price per share to make provision for accrual for the performance fee upon the issue and redemption of shares during the relevant performance period. MANULIFE GLOBAL FUND 248

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 3 Expenses (continued) 3.3 Administration and Custodian fees From 1 July 2014 to 30 June 2015, Citibank International Limited, Luxembourg Branch received fees as Administrator and Custodian at annual rates as follows: Administration fee: The Company pays the fees of the Administrator, Registrar, Listing Agent, Paying Agent and Transfer Agent at commercial rates agreed between these parties and the Company, in addition to reasonable out-of-pocket expenses properly incurred in the course of carrying out their duties. The maximum fee paid for these services by the Company will be 0.5% p.a. of its Net Asset Value (excluding reasonable out-of-pocket expenses). The actual fees charged are 4 basis points p.a. on Net Asset Value per sub-fund below first USD 250 million and 3 basis points p.a. on Net Asset Value per sub-fund above USD 250 million, with a minimum of USD 10,000 per sub-fund p.a. Custodian fee: The fee paid by the Company for this service varies depending upon the markets in which the assets of the Company are invested and custodied. It typically ranges from 0.003% p.a. of the value of the assets of a sub-fund of the Company which are held in developed markets to 0.40% p.a. of the value of the assets of such sub-funds which are held in emerging markets (excluding transaction charges and reasonable disbursements and out-of-pocket expenses). Settlement charges are on a per transaction basis, which vary depending on the countries of which the securities are settled. It ranges from USD 6 per transaction for developed markets to USD 130 per transaction in emerging markets. Reasonable expenses properly incurred by the Custodian or by other banks and financial institutions to which safekeeping of assets of the Company is entrusted are additional to the Custodian s fee and will be borne by the Company. The Custodian s fee normally includes the custody fees and certain transaction charges of the other banks and financial institutions. 3.4 Initial, Redemption and Switching Charges Although an initial charge of up to 6% may be deducted from any subscription monies received from investors, no such initial charge is presently levied on Shareholders in respect of Class A, Class HC, Class HI, Class I, I3 and Class J Shares. An initial charge of up to 3.5% of the subscription amount is levied in respect of all applications for class S Hedged Shares. An initial charge of up to 5% of the subscription amount is levied in respect of all applications for Class AA, Class AA (AUD Hedged), Class AA (CAD Hedged), Class AA (HKD), Class AA Inc, Class AA (AUD Hedged) Inc, Class AA (CAD Hedged) Inc, Class AA (HKD) Inc, Class HA, Class I2, Class I2 SGD Hedged, Class S and Class T Shares. 249 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 3 Expenses (continued) 3.4 Initial, Redemption and Switching Charges (continued) Applicants are charged a redemption charge of a maximum of 1% of the Redemption Price if they redeem their Class A Shares within the first two years of subscribing for the relevant Shares. However, the Company may (by giving not less than three months notice to the Shareholders and the Custodian) increase or (without having to give any prior notice) decrease or waive the redemption charge. In any case, the redemption charge does not exceed a maximum of 1% of the Redemption Price. No redemption charge is presently levied in respect of Class AA, Class AA (AUD Hedged), Class AA (CAD Hedged), Class A (HKD), Class AA Inc, Class AA (AUD Hedged) Inc, Class AA (CAD Hedged) Inc, Class AA (HKD) Inc, Class I, Class I2, Class I2 SGD Hedged, I3, Class J or Class T Shares. A switching charge of up to 1% of the total Redemption Price payable on the Shares being redeemed shall apply in respect of all conversion requests received by the Company or the Distributor unless otherwise agreed with the relevant Shareholders. The Distributor is entitled to retain initial, switching and redemption charges (if any) payable by Shareholders as described in the latest prospectus. 3.5 Brokerage No transactions were entered into by the Company that were effected through Manulife and no commissions were paid to Manulife for any transactions. 3.6 Cash commissions All cash commissions received by the Investment Managers, Sub-Investment Managers or investment advisers or any of their associated persons arising out of the sale and purchase of investments for the Company are credited to the account of the relevant sub-fund managed or advised by such Investment Manager, Sub-Investment Manager or investment advisers. The prospectus allows the Investment Managers, Sub-Investment Managers or investment advisers or any of their associated persons to receive and retain goods and services and other soft dollar benefits which are of demonstrable benefit to the Shareholders as may be permitted under relevant regulations from brokers and other persons through whom such investment transactions are carried out. These goods and services include, but are not limited to, qualifying research services, computer hardware and software obtained to enhance investment decision making and appropriate order execution services. In all cases where such goods and services and other soft dollar benefits are retained by any of the Investment Managers, Sub-Investment Managers or investment advisers or any of their associated persons, such person shall ensure that transaction execution is consistent with best execution standards and that any brokerage fee borne by the relevant sub-fund does not exceed customary institutional full service brokerage rates for such transactions. No soft commission arrangements were entered into in respect of the Company s transactions with brokers, except that of Manulife Asset Management (US) LLC. Details of soft commission are: Investment Manager(s)/ Sub-Investment Manager(s)/ Investment Adviser(s) Name of the sub-funds For the year ended 30-Jun-15 USD For the year ended 30-Jun-14 USD Manulife Asset Management (US) LLC American Growth Fund 17,095 10,561 Healthcare Fund 6,989 1,918 Global Contrarian Fund 1,270 6,882 Global Property Fund 182 200 Strategic Income Fund 37 U.S. Small Cap Equity Fund 3,384 1,376 U.S. Special Opportunities Fund 332 MANULIFE GLOBAL FUND 250

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 3 Expenses (continued) 3.7 Transaction costs For the period from 1 July 2014 to 30 June 2015, the Company incurred transaction costs related to purchase or sale of financial instruments (securities and derivatives) as follows. These charges consist of broker fees and stamp duty tax and are included in the cost of investments. Sub-Fund Transaction costs in USD For the For the year ended year ended 30 June 2015 30 June 2014 Equity Funds: American Growth Fund 120,917 84,680 Asia Value Dividend Equity Fund 74,096 81,388 Asian Equity Fund 2,859,059 2,532,772* Asian Small Cap Equity Fund 8,229,666 4,947,835* China Value Fund 3,671,037 5,572,818 Dragon Growth Fund 595,593 456,844 Emerging Eastern Europe Fund 156,539 255,553 European Growth Fund 280,089 289,143 Global Contrarian Fund 23,476 220,635 Global Property Fund 10,065 12,571 Global Resources Fund 62,179 127,293 Greater China Opportunities Fund 99,091 78,067 Healthcare Fund 201,784 60,048 India Equity Fund 1,267,985 905,497* International Growth Fund 6,626 17,915 Japanese Growth Fund 33,350 43,060 Latin America Equity Fund 119,783 165,131 Russia Equity Fund 252,586 161,472 Taiwan Equity Fund 149,585 210,781 Turkey Equity Fund 81,260 68,340 U.S. Small Cap Equity Fund 62,036 40,522 Bond Funds: Asia Total Return Fund 7,309 9,586* Strategic Income Fund 12,836 994 U.S. Bond Fund 16 U.S. Special Opportunities Fund 3,630 3,034 U.S. Treasury Inflation-Protected Securities Fund * The figures for the year ended 30 June 2014 have been restated following change of transaction cost recognition methodology to ensure comparability with the figures for the year ended 30 June 2015. 251 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 3 Expenses (continued) 3.8 Directors fees and expenses For the period from 1 July 2014 to 30 June 2015, the Company incurred Directors fees and expenses as follows: Sub-Fund Amounts in USD For the year ended 30 June 2015 Directors Fees Directors Expenses For the year ended 30 June 2014 Directors Fees Directors Expenses Equity Funds: American Growth Fund 2,550 163 2,696 1,405 Asia Value Dividend Equity Fund 188 11 197 102 Asian Equity Fund 1,224 78 1,095 596 Asian Small Cap Equity Fund 4,876 317 3,345 1,149 China Value Fund 11,063 682 11,936 6,853 Dragon Growth Fund 1,287 75 1,029 516 Emerging Eastern Europe Fund 1,387 98 2,153 1,272 European Growth Fund 1,131 75 962 454 Global Contrarian Fund 279 18 459 300 Global Property Fund 194 12 224 126 Global Resources Fund 449 32 638 404 Greater China Opportunities Fund 153 8 124 64 Healthcare Fund 2,310 123 952 212 India Equity Fund 2,008 119 1,731 1,096 International Growth Fund 194 12 170 66 Japanese Growth Fund 418 27 490 236 Latin America Equity Fund 859 62 1,258 839 Russia Equity Fund 1,076 72 1,607 1,031 Taiwan Equity Fund 360 24 428 272 Turkey Equity Fund 507 34 572 360 U.S. Small Cap Equity Fund 319 21 350 168 Bond Funds: Asia Total Return Fund 1,067 73 672 364 Strategic Income Fund 903 59 1,049 548 U.S. Bond Fund 1,575 99 1,709 976 U.S. Special Opportunities Fund 1,155 85 1,328 612 U.S. Treasury Inflation-Protected Securities Fund 120 8 201 169 37,652 2,387 37,375 20,190 MANULIFE GLOBAL FUND 252

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 4 Taxation 4.1 Luxembourg The Company is not liable for any Luxembourg tax on profits or income, and dividends paid by the Company are not liable to any withholding tax, subject to certain conditions. The Company is liable in Luxembourg to a tax of 0.05% per annum in respect of the aggregate Net Asset Value of the Class A, Class AA, Class AA (AUD Hedged), Class AA (CAD Hedged), Class AA (HKD), Class AA Inc, Class AA (AUD Hedged) Inc, Class AA (CAD Hedged) Inc, Class AA (HKD) Inc, Class HA, Class HC, Class I2, Class I2 SGD Hedged, Class T, Class S and Class S Hedged Shares of all the sub-funds, such tax being payable quarterly on the basis of the value of the net assets of the Company at the end of the relevant calendar quarter. The Company is liable in Luxembourg to a tax of 0.01% per annum in respect of the aggregate Net Asset Value of the Class HI, Class I, I3 and Class J Shares of all the sub-funds, such tax being payable quarterly on the basis of the value of the net assets of the Company at the end of the relevant calendar quarter. No stamp duty or other tax is payable in Luxembourg on the issue of Shares. No Luxembourg capital gains tax is payable on the realised or unrealised capital appreciation of the assets of the Company. Foreign income, capital gains, dividends and interest may be subject to withholding taxes or other taxes imposed by the country of origin concerned and such taxes may not be recoverable by the Company or its Shareholders. Where there is a reasonable likelihood that a tax liability will be incurred, such tax payable is provided for in the Net Asset Value. 253 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 4 Taxation (continued) 4.2 United Kingdom The Directors have sought and gained approval for various Classes of the Company as reporting funds for UK taxation purposes for periods from 1 July 2011 onwards and to manage the affairs of the Company such that the relevant ongoing obligations which registration carries continue to be met. The full list of Classes which have sought and gained reporting funds status is detailed below: Reporting Fund, Sub-Fund Class with effect from American Growth Fund A 1-Jul-11 American Growth Fund AA 1-Jul-11 American Growth Fund HA 24-Sep-12 American Growth Fund HC 24-Sep-12 American Growth Fund HI 24-Sep-12 American Growth Fund I 16-Oct-12 Asia Total Return Fund AA Inc* 1-Jul-11 Asia Total Return Fund HA 24-Sep-12 Asia Total Return Fund HC 24-Sep-12 Asia Total Return Fund HI 24-Sep-12 Asia Total Return Fund I 1-Jul-11 Asia Value Dividend Equity Fund AA 1-Jul-11 Asian Equity Fund A 1-Jul-11 Asian Equity Fund AA 1-Jul-11 Asian Equity Fund I 1-Jul-11 Asian Small Cap Equity Fund AA 1-Jul-11 Asian Small Cap Equity Fund HA 24-Sep-12 Asian Small Cap Equity Fund HC 24-Sep-12 Asian Small Cap Equity Fund HI 24-Sep-12 Asian Small Cap Equity Fund I 1-Jul-11 China Value Fund A 1-Jul-11 China Value Fund AA 1-Jul-11 China Value Fund HA 24-Sep-12 China Value Fund HC 24-Sep-12 China Value Fund HI 24-Sep-12 Dragon Growth Fund A 1-Jul-11 Dragon Growth Fund AA (HKD)* 1-Jul-11 Emerging Eastern Europe Fund A 1-Jul-11 Emerging Eastern Europe Fund AA 1-Jul-11 European Growth Fund A 1-Jul-11 European Growth Fund AA 1-Jul-11 European Growth Fund I 6-Feb-14 Global Contrarian Fund AA 1-Jul-11 Global Contrarian Fund HA 24-Sep-12 Global Contrarian Fund HC 24-Sep-12 Global Contrarian Fund HI 24-Sep-12 Global Contrarian Fund I2 1-Jul-12 Global Property Fund AA 1-Jul-11 Global Resources Fund AA 1-Jul-11 Greater China Opportunities Fund I 1-Jul-11 * Previously Class AA MANULIFE GLOBAL FUND 254

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 4 Taxation (continued) 4.2 United Kingdom (continued) Reporting Fund, Sub-Fund Class with effect from Healthcare Fund AA 1-Jul-11 India Equity Fund AA 1-Jul-11 International Growth Fund A 1-Jul-11 International Growth Fund AA 1-Jul-11 Japanese Growth Fund A 1-Jul-11 Japanese Growth Fund AA 1-Jul-11 Latin America Equity Fund AA 1-Jul-11 Russia Equity Fund AA 1-Jul-11 Strategic Income Fund AA 1-Jul-11 Strategic Income Fund HA 24-Sep-12 Strategic Income Fund HC 24-Sep-12 Strategic Income Fund HI 24-Sep-12 Strategic Income Fund I2 1-Jul-12 Taiwan Equity Fund AA 1-Jul-11 Turkey Equity Fund AA 1-Jul-11 US Bond Fund AA 1-Jul-11 US Bond Fund HA 24-Sep-12 US Bond Fund HC 24-Sep-12 US Bond Fund HI 24-Sep-12 US Bond Fund I 2-Jun-14 US Small Cap Equity Fund AA 1-Jul-11 US Small Cap Equity Fund HA 24-Sep-12 US Small Cap Equity Fund HC 24-Sep-12 US Small Cap Equity Fund HI 24-Sep-12 US Special Opportunities Fund AA 1-Jul-11 US Special Opportunities Fund I 2-Jun-14 US Treasury Inflation Protected Securities Fund AA 1-Jul-11 4.3 India Section 2(14)(b) of the Income-tax Act, 1961 ( the Act ) of India Income Tax provides any security held by foreign institutional investor which has invested in such security in accordance with the regulations made under the Securities and Exchange Board of India Act, 1992 would be treated as capital asset. Hence, any income arising from transfer of such security by a Foreign Portfolio Investor (FPI) would be in the nature of capital gain and subject to capital gain tax. For the year ended 30 June 2015 and 30 June 2014, the total capital gain tax paid by the following sub funds are as follows: Sub-Fund Capital Gain Tax in USD For the For the year ended year ended 30 June 2015 30 June 2014 Asian Equity Fund 777,390 63,168* Asian Small Cap Equity Fund 4,067,634 250,447* India Equity Fund 3,433,526 224,575* * The figures for the year ended 30 June 2014 related to taxation and net profits (losses) realised on foreign currency have been reclassified to ensure comparability with the figures for the year ended 30 June 2015. 255 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 5 Dividend policy After deduction of the fees and charges and other expenses attributable to each of the subfunds, at least 85% of the available net investment income of each sub-fund will be distributed to Shareholders. The following dividends were distributed to Shareholders during the periods from 1 July 2014 to 30 June 2015 and from 1 July 2013 to 30 June 2014: For the year ended 30 June 2015 For the year ended 30 June 2014 Name of Sub-Funds Class Currency Dividend Per Share Distribution Date Dividend Per Share Distribution Date Annual Dividend American Growth Fund I USD 0.00040515 8-Nov-13 Asia Total Return Fund AA Inc** USD 0.00138382 7-Nov-14 Asia Total Return Fund HA USD 0.00431360 7-Nov-14 Asia Total Return Fund HC USD 0.00435711 7-Nov-14 Asia Total Return Fund HI USD 0.00425684 7-Nov-14 Asia Total Return Fund I USD 0.04685740 7-Nov-14 0.02012423 8-Nov-13 Asia Value Dividend Equity Fund AA USD 0.05062102 8-Nov-13 Asian Equity Fund A USD 0.01272451 7-Nov-14 0.01428126 8-Nov-13 Asian Equity Fund AA USD 0.00172428 8-Nov-13 Asian Equity Fund I USD 0.00390423 7-Nov-14 0.00938654 8-Nov-13 Asian Small Cap Equity Fund AA USD 0.01694124 8-Nov-13 Asian Small Cap Equity Fund HA USD 0.00068000 8-Nov-13 Asian Small Cap Equity Fund HI USD 0.00039827 7-Nov-14 0.00548000 8-Nov-13 Asian Small Cap Equity Fund I USD 0.00835954 7-Nov-14 0.01168202 8-Nov-13 China Value Fund A USD 0.06080180 7-Nov-14 0.04849555 8-Nov-13 China Value Fund AA USD 0.01304136 7-Nov-14 0.00959807 8-Nov-13 China Value Fund HA USD 0.00310000 7-Nov-14 China Value Fund HI USD 0.00260575 7-Nov-14 0.00200000 8-Nov-13 Dragon Growth Fund A USD 0.01246567 7-Nov-14 0.01832559 8-Nov-13 Dragon Growth Fund AA (HKD) HKD 0.05737282 7-Nov-14 0.06556483 8-Nov-13 Emerging Eastern Europe Fund A USD 0.02852832 7-Nov-14 0.10603638 8-Nov-13 Emerging Eastern Europe Fund AA USD 0.00686644 7-Nov-14 0.04511654 8-Nov-13 European Growth Fund A USD 0.12986735 7-Nov-14 0.11581373 8-Nov-13 European Growth Fund AA USD 0.00455698 7-Nov-14 0.00152092 8-Nov-13 European Growth Fund I USD 0.00717431 7-Nov-14 Global Contrarian Fund HI USD 0.00118000 7-Nov-14 Global Property Fund AA USD 0.00763657 7-Nov-14 0.06423027 8-Nov-13 Greater China Opportunities Fund AA USD 0.00000505 7-Nov-14 Greater China Opportunities Fund I USD 0.00698299 7-Nov-14 0.01733757 8-Nov-13 International Growth Fund A USD 0.00622398 7-Nov-14 International Growth Fund AA USD 0.00015040 8-Nov-13 Japanese Growth Fund A USD 0.02051919 7-Nov-14 0.00272180 8-Nov-13 Japanese Growth Fund AA USD 0.00044516 8-Nov-13 Latin America Equity Fund AA USD 0.01306060 7-Nov-14 0.02249290 8-Nov-13 Russia Equity Fund AA USD 0.01242361 8-Nov-13 Strategic Income Fund AA USD 0.04817205 7-Nov-14 0.03945941 8-Nov-13 Strategic Income Fund HA USD 0.00974872 7-Nov-14 0.00584138 8-Nov-13 Strategic Income Fund HC USD 0.00984789 7-Nov-14 0.00575260 8-Nov-13 Strategic Income Fund HI USD 0.00969924 7-Nov-14 0.00595195 8-Nov-13 Strategic Income Fund I2 USD 0.09787103 7-Nov-14 0.03487121 8-Nov-13 Strategic Income Fund J USD 0.00568416 7-Nov-14 0.01745370 8-Nov-13 Taiwan Equity Fund AA USD 0.00337738 7-Nov-14 0.00274098 8-Nov-13 Turkey Equity Fund AA USD 0.00238978 8-Nov-13 U.S. Bond Fund AA USD 0.04757393 7-Nov-14 0.05945383 8-Nov-13 U.S. Bond Fund HA USD 0.00618386 7-Nov-14 0.01374742 8-Nov-13 U.S. Bond Fund HC USD 0.00624674 7-Nov-14 0.01366033 8-Nov-13 U.S. Bond Fund HI USD 0.00614767 7-Nov-14 0.01382233 8-Nov-13 U.S. Bond Fund I USD 0.00038946 7-Nov-14 U.S. Special Opportunities Fund AA USD 0.06521242 7-Nov-14 0.04380460 8-Nov-13 U.S. Special Opportunities Fund I USD 0.00112288 7-Nov-14 U.S. Special Opportunities Fund T USD 0.00158357 7-Nov-14 0.00141010 8-Nov-13 U.S. Treasury Inflation-Protected Securities Fund AA USD 0.00080405 7-Nov-14 * Previously Class AA until 15 June 2014 MANULIFE GLOBAL FUND 256

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 5 Dividend policy (continued) Name of Sub-Funds Class Currency 257 MANULIFE GLOBAL FUND For the year ended 30 June 2015 Dividend Per Share Distribution Date For the year ended 30 June 2014 Dividend Per Share Distribution Date Monthly Dividend Asia Total Return Fund AA Inc** USD 0.00253731 17-Jul-14 0.00196501 19-Jul-13 Asia Total Return Fund HA USD 0.00203138 17-Jul-14 0.00127268 19-Jul-13 Asia Total Return Fund HC USD 0.00165418 17-Jul-14 0.00087568 19-Jul-13 Asia Total Return Fund HI USD 0.00236129 17-Jul-14 0.00161750 19-Jul-13 Asia Total Return Fund AA Inc** USD 0.00271388 22-Aug-14 0.00275004 16-Aug-13 Asia Total Return Fund HA USD 0.00189477 22-Aug-14 0.00199574 16-Aug-13 Asia Total Return Fund HC USD 0.00143478 22-Aug-14 0.00154876 16-Aug-13 Asia Total Return Fund HI USD 0.00230058 22-Aug-14 0.00238503 16-Aug-13 Asia Total Return Fund AA Inc** USD 0.00388011 19-Sep-14 0.00256124 27-Sep-13 Asia Total Return Fund HA USD 0.00188499 19-Sep-14 0.00187976 27-Sep-13 Asia Total Return Fund HC USD 0.00148951 19-Sep-14 0.00147718 27-Sep-13 Asia Total Return Fund HI USD 0.00223193 19-Sep-14 0.00222756 27-Sep-13 Asia Total Return Fund AA Inc** USD 0.00208810 24-Oct-14 0.00268350 25-Oct-13 Asia Total Return Fund HA USD 0.00146998 24-Oct-14 0.00202221 25-Oct-13 Asia Total Return Fund HC USD 0.00103620 24-Oct-14 0.00162033 25-Oct-13 Asia Total Return Fund HI USD 0.00184092 24-Oct-14 0.00237163 25-Oct-13 Asia Total Return Fund AA Inc** USD 0.00221999 21-Nov-14 0.00262804 22-Nov-13 Asia Total Return Fund HA USD 0.00159938 21-Nov-14 0.00218167 22-Nov-13 Asia Total Return Fund HC USD 0.00115289 21-Nov-14 0.00173529 22-Nov-13 Asia Total Return Fund HI USD 0.00199231 21-Nov-14 0.00255687 22-Nov-13 Asia Total Return Fund AA Inc** USD 0.00195936 19-Dec-14 0.00236971 20-Dec-13 Asia Total Return Fund HA USD 0.00145995 19-Dec-14 0.00182283 20-Dec-13 Asia Total Return Fund HC USD 0.00107177 19-Dec-14 0.00143582 20-Dec-13 Asia Total Return Fund HI USD 0.00180474 19-Dec-14 0.00216581 20-Dec-13 Asia Total Return Fund AA Inc USD 0.00255446 23-Jan-15 0.00319021 17-Jan-14 Asia Total Return Fund HA USD 0.00187442 23-Jan-15 0.00241011 17-Jan-14 Asia Total Return Fund HC USD 0.00148799 23-Jan-15 0.00204538 17-Jan-14 Asia Total Return Fund HI USD 0.00221933 23-Jan-15 0.00272959 17-Jan-14 Asia Total Return Fund AA Inc USD 0.00232103 27-Feb-15 0.00279045 21-Feb-14 Asia Total Return Fund HA USD 0.00169134 27-Feb-15 0.00202352 21-Feb-14 Asia Total Return Fund HC USD 0.00128722 27-Feb-15 0.00160762 21-Feb-14 Asia Total Return Fund HI USD 0.00204515 27-Feb-15 0.00239017 21-Feb-14 Asia Total Return Fund AA Inc USD 0.00159890 13-Mar-15 0.00323507 21-Mar-14 Asia Total Return Fund HA USD 0.00113505 13-Mar-15 0.00259408 21-Mar-14 Asia Total Return Fund HC USD 0.00075299 13-Mar-15 0.00221294 21-Mar-14 Asia Total Return Fund HI USD 0.00147145 13-Mar-15 0.00293039 21-Mar-14 Asia Total Return Fund AA Inc USD 0.00209374 16-Apr-15 0.00250118 17-Apr-14 Asia Total Return Fund AA (HKD) Inc HKD 0.01508967 16-Apr-15 Asia Total Return Fund HA USD 0.00153420 16-Apr-15 0.00192477 17-Apr-14 Asia Total Return Fund HC USD 0.00111523 16-Apr-15 0.00151917 17-Apr-14 Asia Total Return Fund HI USD 0.00189808 16-Apr-15 0.00227924 17-Apr-14 Asia Total Return Fund AA Inc USD 0.00261645 18-May-15 0.00271267 23-May-14 Asia Total Return Fund AA (HKD) Inc HKD 0.02715174 18-May-15 Asia Total Return Fund HA USD 0.00207048 18-May-15 0.00212080 23-May-14 Asia Total Return Fund HC USD 0.00168195 18-May-15 0.00172963 23-May-14 Asia Total Return Fund HI USD 0.00240837 18-May-15 0.00246474 23-May-14 Asia Total Return Fund AA Inc USD 0.00240209 15-Jun-15 0.00244645 20-Jun-14 Asia Total Return Fund AA (HKD) Inc HKD 0.02486339 15-Jun-15 Asia Total Return Fund HA USD 0.00190656 15-Jun-15 0.00196032 20-Jun-14 Asia Total Return Fund HC USD 0.00155116 15-Jun-15 0.00156905 20-Jun-14 Asia Total Return Fund HI USD 0.00220439 15-Jun-15 0.00230564 20-Jun-14 Asia Value Dividend Equity Fund AA Inc USD 0.00016518 23-Jan-15 Asia Value Dividend Equity Fund AA Inc USD 0.00337200 16-Apr-15 Asia Value Dividend Equity Fund AA Inc USD 0.00325565 18-May-15 Asia Value Dividend Equity Fund AA Inc USD 0.00334722 15-Jun-15 Strategic Income Fund HA USD 0.00186629 17-Jul-14 0.00119842 19-Jul-13 Strategic Income Fund HC USD 0.00148465 17-Jul-14 0.00079652 19-Jul-13 * Previously Class AA until 15 June 2014

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 5 Dividend policy (continued) Name of Sub-Funds Class Currency For the year ended 30 June 2015 Dividend Per Share Distribution Date For the year ended 30 June 2014 Dividend Per Share Distribution Date Strategic Income Fund HI USD 0.00220506 17-Jul-14 0.00155434 19-Jul-13 Strategic Income Fund S Hedged SGD 0.00350000 17-Jul-14 0.00350000 19-Jul-13 Strategic Income Fund HA USD 0.00167444 22-Aug-14 0.00179517 16-Aug-13 Strategic Income Fund HC USD 0.00120803 22-Aug-14 0.00134190 16-Aug-13 Strategic Income Fund HI USD 0.00208242 22-Aug-14 0.00219722 16-Aug-13 Strategic Income Fund S Hedged SGD 0.00350000 22-Aug-14 0.00350000 16-Aug-13 Strategic Income Fund HA USD 0.00178951 19-Sep-14 0.00143952 27-Sep-13 Strategic Income Fund HC USD 0.00139133 19-Sep-14 0.00102633 27-Sep-13 Strategic Income Fund HI USD 0.00213945 19-Sep-14 0.00180068 27-Sep-13 Strategic Income Fund S Hedged SGD 0.00228960 19-Sep-14 0.00350000 27-Sep-13 Strategic Income Fund HA USD 0.00169984 24-Oct-14 0.00215463 25-Oct-13 Strategic Income Fund HC USD 0.00126320 24-Oct-14 0.00174066 25-Oct-13 Strategic Income Fund HI USD 0.00208089 24-Oct-14 0.00251478 25-Oct-13 Strategic Income Fund S Hedged SGD 0.00229292 24-Oct-14 0.00350000 25-Oct-13 Strategic Income Fund HA USD 0.00166882 21-Nov-14 0.00180358 22-Nov-13 Strategic Income Fund HC USD 0.00122142 21-Nov-14 0.00135198 22-Nov-13 Strategic Income Fund HI USD 0.00206164 21-Nov-14 0.00220055 22-Nov-13 Strategic Income Fund S Hedged SGD 0.00234379 21-Nov-14 0.00350000 22-Nov-13 Strategic Income Fund HA USD 0.00162189 19-Dec-14 0.00179112 20-Dec-13 Strategic Income Fund HC USD 0.00123280 19-Dec-14 0.00139529 20-Dec-13 Strategic Income Fund HI USD 0.00196345 19-Dec-14 0.00213773 20-Dec-13 Strategic Income Fund S Hedged SGD 0.00223656 19-Dec-14 0.00350000 20-Dec-13 Strategic Income Fund HA USD 0.00184795 23-Jan-15 0.00230483 17-Jan-14 Strategic Income Fund HC USD 0.00146081 23-Jan-15 0.00193058 17-Jan-14 Strategic Income Fund HI USD 0.00219068 23-Jan-15 0.00264055 17-Jan-14 Strategic Income Fund S Hedged SGD 0.00238526 23-Jan-15 0.00350000 17-Jan-14 Strategic Income Fund HA USD 0.00135543 27-Feb-15 0.00175944 21-Feb-14 Strategic Income Fund HC USD 0.00094567 27-Feb-15 0.00132565 21-Feb-14 Strategic Income Fund HI USD 0.00171202 27-Feb-15 0.00214198 21-Feb-14 Strategic Income Fund S Hedged SGD 0.00196035 27-Feb-15 0.00350000 21-Feb-14 Strategic Income Fund HA USD 0.00146008 13-Mar-15 0.00224391 21-Mar-14 Strategic Income Fund HC USD 0.00106921 13-Mar-15 0.00184673 21-Mar-14 Strategic Income Fund HI USD 0.00180425 13-Mar-15 0.00259393 21-Mar-14 Strategic Income Fund S Hedged SGD 0.00201553 13-Mar-15 0.00350000 21-Mar-14 Strategic Income Fund HA USD 0.00135972 16-Apr-15 0.00183217 17-Apr-14 Strategic Income Fund HC USD 0.00093026 16-Apr-15 0.00141466 17-Apr-14 Strategic Income Fund HI USD 0.00173874 16-Apr-15 0.00219957 17-Apr-14 Strategic Income Fund S Hedged SGD 0.00191491 16-Apr-15 0.00350000 17-Apr-14 Strategic Income Fund HA USD 0.00156766 18-May-15 0.00205656 23-May-14 Strategic Income Fund HC USD 0.00117684 18-May-15 0.00165690 23-May-14 Strategic Income Fund HI USD 0.00191360 18-May-15 0.00240467 23-May-14 Strategic Income Fund S Hedged SGD 0.00209753 18-May-15 0.00350000 23-May-14 Strategic Income Fund HA USD 0.00179417 15-Jun-15 0.00195624 20-Jun-14 Strategic Income Fund HC USD 0.00144654 15-Jun-15 0.00156213 20-Jun-14 Strategic Income Fund HI USD 0.00210988 15-Jun-15 0.00230862 20-Jun-14 Strategic Income Fund S Hedged SGD 0.00236104 15-Jun-15 0.00350000 20-Jun-14 U.S. Bond Fund HA USD 0.00212200 17-Jul-14 0.00205813 19-Jul-13 U.S. Bond Fund HC USD 0.00174740 17-Jul-14 0.00166371 19-Jul-13 U.S. Bond Fund HI USD 0.00245220 17-Jul-14 0.00240467 19-Jul-13 U.S. Bond Fund HA USD 0.00184491 22-Aug-14 0.00243503 16-Aug-13 U.S. Bond Fund HC USD 0.00138995 22-Aug-14 0.00198612 16-Aug-13 U.S. Bond Fund HI USD 0.00223999 22-Aug-14 0.00282815 16-Aug-13 U.S. Bond Fund AA Inc USD 0.00253874 19-Sep-14 U.S. Bond Fund AA (HKD) Inc HKD 0.03350576 19-Sep-14 U.S. Bond Fund HA USD 0.00190650 19-Sep-14 0.00253480 27-Sep-13 U.S. Bond Fund HC USD 0.00151537 19-Sep-14 0.00212646 27-Sep-13 MANULIFE GLOBAL FUND 258

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 5 Dividend policy (continued) Name of Sub-Funds Class Currency For the year ended 30 June 2015 Dividend Per Share Distribution Date For the year ended 30 June 2014 Dividend Per Share Distribution Date U.S. Bond Fund HI USD 0.00225587 19-Sep-14 0.00289481 27-Sep-13 U.S. Bond Fund AA Inc USD 0.00206677 24-Oct-14 U.S. Bond Fund AA (HKD) Inc HKD 0.02156957 24-Oct-14 U.S. Bond Fund HA USD 0.00188590 24-Oct-14 0.00231708 25-Oct-13 U.S. Bond Fund HC USD 0.00145894 24-Oct-14 0.00190953 25-Oct-13 U.S. Bond Fund HI USD 0.00226397 24-Oct-14 0.00266914 25-Oct-13 U.S. Bond Fund AA Inc USD 0.00011630 21-Nov-14 U.S. Bond Fund AA (HKD) Inc HKD 0.02201129 21-Nov-14 U.S. Bond Fund HA USD 0.00176332 21-Nov-14 0.00201528 22-Nov-13 U.S. Bond Fund HC USD 0.00131555 21-Nov-14 0.00157146 22-Nov-13 U.S. Bond Fund HI USD 0.00215516 21-Nov-14 0.00240206 22-Nov-13 U.S. Bond Fund AA Inc USD 0.00138007 19-Dec-14 U.S. Bond Fund AA (HKD) Inc HKD 0.01393878 19-Dec-14 U.S. Bond Fund HA USD 0.00170413 19-Dec-14 0.00216962 20-Dec-13 U.S. Bond Fund HC USD 0.00131412 19-Dec-14 0.00178221 20-Dec-13 U.S. Bond Fund HI USD 0.00204331 19-Dec-14 0.00250778 20-Dec-13 U.S. Bond Fund AA Inc USD 0.00272920 23-Jan-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02445025 23-Jan-15 U.S. Bond Fund HA USD 0.00215296 23-Jan-15 0.00245880 17-Jan-14 U.S. Bond Fund HC USD 0.00176615 23-Jan-15 0.00209280 17-Jan-14 U.S. Bond Fund HI USD 0.00245461 23-Jan-15 0.00278180 17-Jan-14 U.S. Bond Fund AA Inc USD 0.00190694 27-Feb-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02339872 27-Feb-15 U.S. Bond Fund HA USD 0.00193150 27-Feb-15 0.00208109 21-Feb-14 U.S. Bond Fund HC USD 0.00152102 27-Feb-15 0.00165583 21-Feb-14 U.S. Bond Fund HI USD 0.00229124 27-Feb-15 0.00245077 21-Feb-14 U.S. Bond Fund AA Inc USD 0.00067126 13-Mar-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02020730 13-Mar-15 U.S. Bond Fund HA USD 0.00162061 13-Mar-15 0.00226806 21-Mar-14 U.S. Bond Fund HC USD 0.00123144 13-Mar-15 0.00187942 21-Mar-14 U.S. Bond Fund HI USD 0.00196606 13-Mar-15 0.00261145 21-Mar-14 U.S. Bond Fund AA Inc USD 0.00243049 16-Apr-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02449042 16-Apr-15 U.S. Bond Fund HA USD 0.00200400 16-Apr-15 0.00186834 17-Apr-14 U.S. Bond Fund HC USD 0.00157679 16-Apr-15 0.00145848 17-Apr-14 U.S. Bond Fund HI USD 0.00238265 16-Apr-15 0.00222623 17-Apr-14 U.S. Bond Fund AA Inc USD 0.00624332 18-May-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02199604 18-May-15 U.S. Bond Fund HA USD 0.00179564 18-May-15 0.00217303 23-May-14 U.S. Bond Fund HC USD 0.00140513 18-May-15 0.00178466 23-May-14 U.S. Bond Fund HI USD 0.00214124 18-May-15 0.00251664 23-May-14 U.S. Bond Fund AA Inc USD 0.00298459 15-Jun-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02893306 15-Jun-15 U.S. Bond Fund HA USD 0.00191920 15-Jun-15 0.00204740 20-Jun-14 U.S. Bond Fund HC USD 0.00157043 15-Jun-15 0.00165698 20-Jun-14 U.S. Bond Fund HI USD 0.00223044 15-Jun-15 0.00239264 20-Jun-14 U.S. Special Opportunities Fund T USD 0.00565370 17-Jul-14 0.00581852 19-Jul-13 U.S. Special Opportunities Fund T USD 0.00374851 22-Aug-14 0.00324115 16-Aug-13 U.S. Special Opportunities Fund T USD 0.00523523 19-Sep-14 0.00158391 27-Sep-13 U.S. Special Opportunities Fund AA Inc USD 0.00480072 24-Oct-14 U.S. Special Opportunities Fund T USD 0.00745503 24-Oct-14 0.00317432 25-Oct-13 U.S. Special Opportunities Fund AA Inc USD 0.00381547 21-Nov-14 U.S. Special Opportunities Fund T USD 0.00560317 21-Nov-14 0.00651553 22-Nov-13 U.S. Special Opportunities Fund AA Inc USD 0.00343061 19-Dec-14 U.S. Special Opportunities Fund T USD 0.00746419 19-Dec-14 0.00627501 20-Dec-13 U.S. Special Opportunities Fund AA Inc USD 0.00437721 23-Jan-15 259 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 5 Dividend policy (continued) Name of Sub-Funds Class Currency For the year ended 30 June 2015 Dividend Per Share Distribution Date For the year ended 30 June 2014 Dividend Per Share Distribution Date U.S. Special Opportunities Fund T USD 0.02860740 23-Jan-15 0.00631530 17-Jan-14 U.S. Special Opportunities Fund AA Inc USD 0.00385630 27-Feb-15 U.S. Special Opportunities Fund T USD 0.01092220 27-Feb-15 0.00591734 21-Feb-14 U.S. Special Opportunities Fund AA Inc USD 0.00342972 13-Mar-15 U.S. Special Opportunities Fund T USD 0.00401535 13-Mar-15 0.00410452 21-Mar-14 U.S. Special Opportunities Fund AA Inc USD 0.00395360 16-Apr-15 U.S. Special Opportunities Fund T USD 0.00469468 16-Apr-15 0.00187840 17-Apr-14 U.S. Special Opportunities Fund AA Inc USD 0.00364788 18-May-15 U.S. Special Opportunities Fund T USD 0.00421724 18-May-15 0.00452791 23-May-14 U.S. Special Opportunities Fund AA Inc USD 0.00341965 15-Jun-15 U.S. Special Opportunities Fund T USD 0.00367505 15-Jun-15 0.00427217 20-Jun-14 Quarterly Dividend Asia Total Return Fund J USD 0.01550905 16-Apr-15 Strategic Income Fund J USD 0.01180081 17-Jul-14 0.00987968 16-Jul-13 Strategic Income Fund J USD 0.00964133 24-Oct-14 0.01098873 15-Oct-13 Strategic Income Fund J USD 0.01164365 23-Jan-15 0.01157938 17-Jan-14 Strategic Income Fund J USD 0.00942796 16-Apr-15 0.01147019 17-Apr-14 6 Changes in the Portfolio of Investments The detail of all transactions on portfolio of investments over the year is available from Citibank International Limited, Luxembourg Branch, the Company s administrative agent, upon request. 7 Financial instruments Forward foreign exchange contracts The Company has entered into forward foreign exchange contracts as hedges against fluctuations in foreign exchange rates. As at 30 June 2015, the Company has outstanding forward foreign exchange contracts as follows: Asia Total Return Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Appreciation (USD) 3,195,915 USD 4,150,000 AUD HSBC New York 31-Jul-15 956 2,198,720 USD 3,200,000 NZD HSBC New York 31-Jul-15 36,284 3,977,991 USD 5,350,000 SGD HSBC New York 31-Jul-15 5,330 Total net unrealised appreciation on forward foreign exchange contract 42,570 * Represents foreign exchange spot contract MANULIFE GLOBAL FUND 260

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 7 Financial instruments (continued) Forward foreign exchange contracts (continued) Asian Small Cap Equity Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Depreciation (USD) 2,029,031 USD 15,732,499 HKD Citibank London 2-Jul-15 (398) 3,727,765 USD 28,903,970 HKD Citibank London 2-Jul-15 (732) 1,377,141 USD 10,677,941 HKD Citibank London 2-Jul-15 (270) 2,058,471 USD 15,960,763 HKD Citibank London 2-Jul-15 (404) 1,413,676 USD 10,961,364 HKD Citibank London 2-Jul-15 (296) 1,874,556 USD 14,534,933 HKD Citibank London 2-Jul-15 (392) 3,291,864 USD 25,524,453 HKD Citibank London 2-Jul-15 (689) 1,680,407 USD 13,029,536 HKD Citibank London 2-Jul-15 (352) 1,434,299 USD 11,121,266 HKD Citibank London 2-Jul-15 (300) 2,546,620 USD 19,745,983 HKD Citibank London 2-Jul-15 (533) 3,665,952 USD 28,425,059 HKD Citibank London 2-Jul-15 (767) 2,942,690 USD 22,817,033 HKD Citibank London 2-Jul-15 (616) 1,119,582 USD 1,453,521 AUD Citibank London 1-Jul-15 (1,518) 1,110,184 USD 1,441,320 AUD Citibank London 1-Jul-15 (1,506) Total net unrealised depreciation on forward foreign exchange contract* (8,773) Strategic Income Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Appreciation/ (Depreciation) (USD) 11,762,763 USD 14,198,772 CAD Toronto-Dominion Bank 30-Jul-15 350,028 2,119,020 USD 1,395,313 GBP HSBC New York 30-Jul-15 (78,489) 1,156,278 USD 1,539,652 NZD Toronto-Dominion Bank 30-Jul-15 116,030 1,691,328 USD 14,086,223 SEK Citibank New York 30-Jul-15 (17,954) 1,703,915 USD 12,914,820 NOK Jaron London Goldman Sachs 30-Jul-15 59,282 1,003,831 USD 1,339,513 SGD Bank of Montreal 30-Jul-15 9,159 167,679 CAD 185,000 NZD JP Morgan Chase New York 30-Jul-15 9,775 425,000 EUR 313,994 GBP JP Morgan Chase New York 30-Jul-15 (18,423) 5,487,211 USD 6,932,674 AUD Australia New Zealand Bank 30-Jul-15 149,947 276,983 GBP 370,000 EUR HSBC New York 30-Jul-15 21,733 650,000 GBP 1,318,467 SGD HSBC New York 30-Jul-15 44,668 425,000 GBP 648,179 USD Deutsche Bank AG London 30-Jul-15 21,158 265,000 USD 321,275 CAD Royal Bank of Canada 30-Jul-15 6,764 Toronto 536,312 CAD 443,486 USD Bank of Nova Scotia 30-Jul-15 (12,402) 578,871 CAD 650,000 NZD Royal Bank of Canada 30-Jul-15 26,063 Toronto 234,504 CAD 265,000 NZD US Bancorp Investments 30-Jul-15 9,419 1,795,376 CAD 2,020,000 NZD Royal Bank of Canada 30-Jul-15 78,114 Toronto 860,749 CAD 970,000 NZD Australia New Zealand Bank 30-Jul-15 36,392 180,000 EUR 201,663 USD State Street Corp 30-Jul-15 (23) 2,649,897 USD 2,370,000 EUR Citibank New York 30-Jul-15 (5,022) 1,391,163 SEK 167,610 USD State Street Corp 30-Jul-15 1,201 264,125 NZD 192,019 USD State Street Corp 30-Jul-15 (13,510) 497,334 AUD 391,031 USD State Street Corp 30-Jul-15 (8,129) 895,107 CAD 718,875 USD State Street Corp 30-Jul-15 607 600,000 CAD 484,790 USD Bank of Montreal 30-Jul-15 (2,513) 300,000 EUR 328,245 USD Bank of Montreal 30-Jul-15 7,821 854,572 NOK 113,052 USD State Street Corp 30-Jul-15 (4,224) 261 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 7 Financial instruments (continued) Forward foreign exchange contracts (continued) Strategic Income Fund (continued) Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Appreciation/ (Depreciation) (USD) 1,481,523 NOK 188,706 USD Standard Chartered Bank 30-Jul-15 (37) New York 721,444 CAD 579,194 USD Standard Chartered Bank 30-Jul-15 698 New York 973,246 AUD 741,467 USD Standard Chartered Bank 30-Jul-15 7,844 New York 779,877 NZD 555,569 USD Standard Chartered Bank 30-Jul-15 (28,489) New York 58,319 GBP 89,192 USD Standard Chartered Bank 30-Jul-15 2,655 New York 281,755 USD 255,000 EUR Deutsche Bank AG London 30-Jul-15 (3,900) 343,234 CAD 275,000 USD Bank of Montreal 30-Jul-15 890 1,137,107 CAD 1,295,000 NZD Canadian Imperial Bank of 30-Jul-15 38,883 Commerce 150,000 EUR 168,720 USD Standard Chartered Bank 30-Jul-15 (687) New York 400,000 SGD 296,630 USD Standard Chartered Bank 30-Jul-15 397 New York 250,000 CAD 202,749 USD Standard Chartered Bank 30-Jul-15 (1,801) New York 695,000 NZD 484,554 USD Toronto-Dominion Bank 30-Jul-15 (14,838) 350,000 SEK 42,584 USD Deutsche Bank AG London 30-Jul-15 (113) 625,000 NOK 79,565 USD Deutsche Bank AG London 30-Jul-15 27 429,796 AUD 331,630 USD Toronto-Dominion Bank 30-Jul-15 (726) 140,000 USD 172,781 CAD Bank of Montreal 30-Jul-15 1,120 350,000 NZD 243,667 USD Australia New Zealand Bank 30-Jul-15 (7,119) 171,333 USD 245,463 NZD Bank of Montreal 30-Jul-15 5,452 164,219 USD 236,627 NZD Australia New Zealand Bank 30-Jul-15 4,307 150,054 USD 218,419 NZD Toronto-Dominion Bank 30-Jul-15 2,442 1,456 SGD 1,092 USD Citibank London 31-Jul-15 (10) 5,084 USD 6,838 SGD Citibank London 1-Jul-15 3 6,838 SGD 5,082 USD Citibank London 31-Jul-15 (4) 120,068 USD 161,638 SGD Citibank London 31-Jul-15 43 33,731,195 SGD 25,081,193 USD Citibank London 31-Jul-15 (33,959) 16,154 USD 21,750 SGD Citibank London 31-Jul-15 4 2,174 USD 2,920 SGD Citibank London 2-Jul-15 4 2,920 SGD 2,173 USD Citibank London 31-Jul-15 (5) 8,828 SGD 6,572 USD Citibank London 1-Jul-15 (13) 6,571 USD 8,828 SGD Citibank London 31-Jul-15 16 770,000 CAD 835,601 SGD Standard Chartered Bank 30-Jul-15 (1,569) New York 45,572 USD 61,613 SGD Citibank London 31-Jul-15 (180) 2,309 USD 3,113 SGD Citibank London 3-Jul-15 (3) 3,113 SGD 2,308 USD Citibank London 31-Jul-15 3 227,513 SGD 168,791 USD Citibank London 2-Jul-15 246 168,645 USD 227,513 SGD Citibank London 31-Jul-15 (296) 13,349 USD 18,000 SGD Citibank London 31-Jul-15 (17) 5,291 USD 7,144 SGD Citibank London 6-Jul-15 (17) 7,144 SGD 5,289 USD Citibank London 31-Jul-15 15 14,792 SGD 10,955 USD Citibank London 3-Jul-15 35 10,945 USD 14,792 SGD Citibank London 31-Jul-15 (38) Total net unrealised appreciation on forward foreign exchange contract 758,735 MANULIFE GLOBAL FUND 262

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 7 Financial instruments (continued) Forward foreign exchange contracts (continued) As at 30 June 2014, the Company has outstanding forward foreign exchange contracts as follows: Asia Total Return Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Depreciation (USD) 2,000,000 USD 2,051,600,000 KRW HSBC Bank USA 9-Jul-14 (27,111) 4,408,008 USD 4,720,000 AUD HSBC Bank USA 31-Jul-14 (18,213) 1,519,392 USD 1,900,000 SGD HSBC Bank USA 31-Jul-14 (3,239) 1,989,500 USD 2,300,000 NZD HSBC Bank USA 31-Jul-14 (15,112) Total net unrealised depreciation on forward foreign exchange contract (63,675) Asia Value Dividend Equity Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Depreciation (USD) 1,279 USD 1,360 AUD Citibank London 1-Jul-14 Total net unrealised appreciation on forward foreign exchange contract Asian Equity Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Depreciation (USD) 681,548 USD 853,229 SGD Citibank London 1-Jul-14 (2,212) 558,589 USD 699,299 SGD Citibank London 1-Jul-14 (1,813) Total net unrealised depreciation on forward foreign exchange contract (4,025) Asian Small Cap Equity Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Depreciation (USD) 65,255 USD 505,891 HKD Citibank London 2-Jul-14 (14) Total net unrealised depreciation on forward foreign exchange contract (14) Dragon Growth Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Depreciation (USD) 55,000 USD 426,393 HKD Citibank London 2-Jul-14 (12) Total net unrealised depreciation on forward foreign exchange contract (12) 263 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 7 Financial instruments (continued) Forward foreign exchange contracts (continued) Strategic Income Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Appreciation/ (Depreciation) (USD) 134,543 SGD 107,731 USD Citibank London 31-Jul-14 89 107,703 USD 134,543 SGD Citibank London 7-Jul-14 (116) 4,397 SGD 3,517 USD Citibank London 31-Jul-14 7 3,516 USD 4,397 SGD Citibank London 3-Jul-14 (8) 47,220 USD 59,021 SGD Citibank London 31-Jul-14 (79) 145,521 SGD 116,484 USD Citibank London 31-Jul-14 134 116,454 USD 145,521 SGD Citibank London 2-Jul-14 (163) 19,599 SGD 15,699 USD Citibank London 31-Jul-14 7 37,662,110 SGD 30,170,841 USD Citibank London 31-Jul-14 11,009 210,570 SGD 168,689 USD Citibank London 31-Jul-14 59 168,645 USD 210,570 SGD Citibank London 1-Jul-14 (101) 594,395 CAD 553,595 USD Citibank New York 16-Jul-14 2,744 97,947 SGD 78,321 USD Citibank London 31-Jul-14 172 93,980 USD 101,790 CAD Bank of Montreal 16-Jul-14 (1,293) 484,798 CAD 446,530 USD State Street Corp 16-Jul-14 7,229 144,448 AUD 135,434 USD Australia New Zealand Bank 16-Jul-14 189 275,000 GBP 506,462 CAD State Street Corp 16-Jul-14 (5,171) 580,000 NZD 530,131 AUD Australia New Zealand Bank 16-Jul-14 8,548 126,044 CAD 115,489 USD JPMorgan Chase New York 16-Jul-14 2,486 230,000 CAD 210,816 USD State Street Corp 16-Jul-14 4,459 14,648 USD 15,878 AUD Bank of Montreal 16-Jul-14 (260) 1,618,815 SGD 1,415,000 CAD Citibank New York 16-Jul-14 (27,137) 543,531 SGD 475,000 CAD Deutsche Bank AG London 16-Jul-14 (9,020) 1,087,376 SGD 950,000 CAD Bank of Montreal 16-Jul-14 (17,787) 16,126,237 USD 17,824,089 CAD Toronto-dominion Bank 16-Jul-14 (556,918) 461,029 USD 275,000 GBP UBS AG 16-Jul-14 (7,839) 9,445,146 USD 10,222,296 AUD Barclay Bank plc 16-Jul-14 (152,823) 1,874,319 USD 12,343,046 SEK Citibank New York 16-Jul-14 34,324 2,604,693 USD 3,273,045 SGD Standard Chartered Bank 16-Jul-14 (18,249) New York 1,929,432 USD 11,607,074 NOK Standard Chartered Bank 16-Jul-14 42,426 New York 531,478 USD 622,938 NZD Bank of Nova Scotia 16-Jul-14 (12,301) Total net unrealised depreciation on forward foreign exchange contract (695,383) MANULIFE GLOBAL FUND 264

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 7 Financial instruments (continued) As at 30 June 2015, the Company has outstanding financial futures contracts as follows: Financial future contracts Asia Total Return Fund Maturity Date Short quantity Contract Trade Counterparty Currency Type of collateral Commitment (in Trade currency) Local Market Price (in Trade currency) Unrealised Appreciation (USD) 21-Sep-15 (20) 10 Year US Treasury Note Future (CBT) Chicago Board of Trade (CBOT) USD Cash 2,524,063 126 22,188 Total net unrealised appreciation on financial future contract 22,188 The amount of collateral against futures contract for the Asia Total Return Fund amounted to USD 29,700 (counterparty: UBS) As at 30 June 2014, the Company has outstanding financial futures contracts as follows: Asia Total Return Fund Maturity Date Short quantity Contract Trade Counterparty Currency Type of collateral Commitment (in Trade currency) Local Market Price (in Trade currency) Unrealised Depreciation (USD) 19-Sep-14 (43) 10 Year US Treasury Note Future (CBT) Chicago Board of Trade (CBOT) USD Cash 5,376,344 125 (18,813) Total net unrealised depreciation on financial future contract (18,813) The amount of collateral against futures contract for the Asia Total Return Fund amounted to USD 145,666.51 (counterparty: UBS). Strategic Income Fund Maturity Date Short quantity Contract Trade Counterparty Currency Type of collateral Commitment (in Trade currency) Local Market Price (in Trade currency) Unrealised Appreciation/ (Depreciation) (USD) 19-Sep-14 (14) 20 Year US Long Bond (CBT) Chicago Board of Trade (CBOT) 19-Sep-14 (82) 10 Year US Treasury Chicago Board of Note Future (CBT) Trade (CBOT) 30-Sep-14 (12) 5 Year US Treasury Chicago Board of Note Future (CBT) Trade (CBOT) USD Cash 1,919,750 137 (6,672) USD Cash 10,252,563 125 6,405 USD Cash 1,432,688 119 2,625 Total net unrealised appreciation on financial future contract 2,358 The amount of collateral against futures contract for the Strategic Income Fund amounted to USD 189,620.93 (counterparty: Morgan Stanley). 265 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 7 Financial instruments (continued) Options As at 30 June 2015, the Company has outstanding options contract as follows: Strategic Income Fund Description Maturity Date Currency Contracts Counterparty Strike Price Market value (USD) Unrealised Depreciation (USD) FX option AUD/JPY 9-Jun-16 AUD 805,000 Citibank 87.10 15,625 (148) Total net unrealised Depreciation on option contract (148) The Company may purchase and write (sell) options. The risk associated with purchasing an option is that the Company pays a premium whether or not the option is exercised. Additionally, the Company bears the risk of loss of the premium and any change in market value should the counterparty not perform under the contract. Put and call options purchased are accounted for in the same manner as portfolio securities. The cost of securities acquired through the exercise of call options are decreased by the premiums paid. When the sub-fund writes an option, the premium received by the sub-fund is recorded as a liability and is subsequently adjusted to the current market value of the option written. In writing covered options, the sub-fund bears market risk of an unfavourable change in the price of the security underlying the written option. Exercise of an option written by the sub-fund could result in the sub-fund selling or buying a security at a price different from the current market value. Losses from written market index options may be unlimited. Premiums received from writing options which expire unexercised are recorded by the sub-fund on the expiration date as realised gains from options transactions. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a realised gain, or if the premium is less than the amount paid for the closing purchase transaction, as a realised loss. If a written call option is exercised, the premium is added to the proceeds from the sale of the underlying security in determining whether the sub-fund has realised a gain or a loss. If a written put option is exercised, the premium reduces the cost basis of the security purchased by the sub-fund. MANULIFE GLOBAL FUND 266

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 8 Global Exposure The following sections indicate whether the UCITS global exposure is managed under a commitment approach or an absolute Value at Risk (absolute VaR) approach. For sub-funds managed under a VaR approach, additional information is provided on the VaR model, the regulatory VaR limit usage and the level of leverage reached 1. The following table sets out the relative approaches for the global exposure calculations of each Sub-Fund: Name of Sub-Funds Global Exposure Calculation Equity Funds: American Growth Fund Commitment Approach 2 Asia Value Dividend Equity Fund Commitment Approach Asian Equity Fund Commitment Approach Asian Small Cap Equity Fund Commitment Approach China Value Fund Commitment Approach Dragon Growth Fund Commitment Approach Emerging Eastern Europe Fund Commitment Approach European Growth Fund Commitment Approach Global Contrarian Fund Commitment Approach Global Property Fund Commitment Approach Global Resources Fund Commitment Approach Greater China Opportunities Fund Commitment Approach Healthcare Fund Commitment Approach India Equity Fund Commitment Approach International Growth Fund Commitment Approach Japanese Growth Fund Commitment Approach Latin America Equity Fund Commitment Approach Russia Equity Fund Commitment Approach Taiwan Equity Fund Commitment Approach Turkey Equity Fund Commitment Approach U.S. Small Cap Equity Fund Commitment Approach Bond Funds: Asia Total Return Fund Commitment Approach Strategic Income Fund Absolute VaR Approach 3 U.S. Bond Fund Commitment Approach U.S. Special Opportunities Fund Commitment Approach U.S. Treasury Inflation-Protected Securities Fund Commitment Approach 1 In line with CSSF circular 11/512, the numerical information observation year cover the period from 1 July 2014 to 30 June 2015. 2 The Commitment Approach is used for the sub-funds with low derivative usage or funds which limit their derivatives commitment to 100% or less of their Net Asset Value. 3 The Absolute VaR Approach is used for the sub-funds managed with an absolute return target and/or absolute volatility limit. 267 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 8 Global Exposure (continued) Information on the VaR Limit Usage & Level of Leverage The level of leverage is an indication of the derivative usage and of any leverage generated by the reinvestment of cash received as collateral when using efficient portfolio management techniques. Strategic Income Fund is the only sub-fund using Absolute VaR Approach. VaR limit utilization: Lowest 1 Day VaR: 0.16% Highest 1 Day VaR: 0.66% Average1 Day VaR utilization limit: 0.40% Leverage level utilization (Sum of notionals): Highest Leverage level: 177.31% Average Leverage level: 96.33% Type of model: Barclays Point, a Fixed Income Risk Management Analytics tool. Unilateral confidence interval of 99% Holding period equivalent to 1 day Effective observation year from 1 July 2014 to 30 June 2015. 9 Related Party Disclosures All transactions with related parties were entered into in the ordinary course of business and under normal commercial terms. For the year ending 30 June 2015, the main related parties of the Company are the following: Manulife Asset Management International Holdings Limited in its capacities as the General Adviser and Distributor; The Investment Managers and Sub-Investment Managers; GFM Holdings (Cyprus) Limited a wholly-owned subsidiary incorporated in Cyprus for which Emerging Eastern Europe Fund and Russia Equity Fund may invest in the Russian market through. MANULIFE GLOBAL FUND 268

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 9 Related Party Disclosures (continued) The General Adviser and Distributor, the Investment Managers and the Sub-Investment Managers may be members of the Manulife Group. The transactions with Manulife Group are the following: Management fees and performance fees charged by the General Adviser (please refer to Note 3.1 and 3.2); On-going fees paid by Manulife Asset Management (Hong Kong) Limited and later reimbursed by the Company for USD180,890; Subscriptions and redemption of units in the sub-funds from seed capital, insurance schemes and feeder funds owned by Manulife Group. In order to enable GFM Holdings (Cyprus) Limited to seek to achieve the investment objective of the Emerging Eastern Europe Fund and Russia Equity Fund, Manulife Global Fund engages in lending to GFM Holdings (Cyprus) Limited through an unsecured interest bearing, non recourse, multi currency loan facility. Mr. Robert A. Cook, Director, with effect until 05 May 2015, held shares in the Asian Equity Fund and in the China Value Fund as at 30 June 2015. Apart from two dividend reinvestments made in November 2014, he has not purchased or redeemed any shares during the reporting year. There are no existing or proposed service contracts between any of the Directors and the Company. The Directors are entitled to such remuneration as may be voted to them by the Company in general meetings. Robert A. Cook is director of Manulife Asset Management (Hong Kong) Limited with effect until 05 May 2015, which is the Company s Hong Kong Distributor and an Investment Manager. No remuneration is payable to Directors who are also Directors of Manulife Group. Each Director may be paid reasonable travel, hotel and other out-of-pocket expenses incurred in the performance of his duties. 10 Important events With effect from 22 July 2014, Mr. Isaac Wong has resigned as non-resident Conducting Person of the Company. With effect from 22 July 2014, Mrs Donna Cotter has been appointed as non-resident Conducting Person of the Company in place of Mr. Isaac Wong. With effect from 17 October 2014, Mr Clive Anderson has been appointed as Director of the Company and has resigned on 13 February 2015. With effect from 18 February 2015, Mr Philip Witherington has been appointed as Director of the Company. With effect from 05 May 2015, Mr. Robert A. Cook has resigned as Director of the Company. With effect from 24 June 2015, Mr. Steven Yeo has been appointed as Director of the Company. 269 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 11 Subsequent events With effect from 10 July 2015, Mr Gianni Fiacco has been appointed as non-resident Conducting Person of the Company and as Director of the Company in place of Mrs Donna Cotter. The following dividends were distributed to Shareholders during the periods from 1 July 2015 to 15 September 2015: Name of Sub-Funds Class Currency Dividend Per Share Distribution Date Monthly Dividend Asia Total Return Fund AA Inc USD 0.00237315 16-Jul-15 Asia Total Return Fund AA (HKD) Inc HKD 0.00708458 16-Jul-15 Asia Total Return Fund HA USD 0.00190832 16-Jul-15 Asia Total Return Fund HC USD 0.00150777 16-Jul-15 Asia Total Return Fund HI USD 0.00226182 16-Jul-15 Asia Value Dividend Equity Fund AA Inc USD 0.00340000 16-Jul-15 Strategic Income Fund HA USD 0.00121797 16-Jul-15 Strategic Income Fund HC USD 0.00081294 16-Jul-15 Strategic Income Fund HI USD 0.00146027 16-Jul-15 Strategic Income Fund S Hedged SGD 0.00181132 16-Jul-15 U.S. Bond Fund AA Inc USD 0.00187758 16-Jul-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02346841 16-Jul-15 U.S. Bond Fund HA USD 0.00170055 16-Jul-15 U.S. Bond Fund HC USD 0.00129942 16-Jul-15 U.S. Bond Fund HI USD 0.00205901 16-Jul-15 U.S. Special Opportunities Fund AA Inc USD 0.00326626 16-Jul-15 U.S. Special Opportunities Fund T USD 0.00350796 16-Jul-15 Quarterly Dividend Asia Total Return Fund J USD 0.00946687 16-Jul-15 MANULIFE GLOBAL FUND 270

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2015 11 Subsequent events (continued) Name of Sub-Funds Class Currency Dividend Per Share Distribution Date Monthly Dividend Asia Total Return Fund AA Inc USD 0.00206334 14-Aug-15 Asia Total Return Fund AA (HKD) Inc HKD 0.09833360 14-Aug-15 Asia Total Return Fund HA USD 0.00154463 14-Aug-15 Asia Total Return Fund HC USD 0.00111402 14-Aug-15 Asia Total Return Fund HI USD 0.00192026 14-Aug-15 Asia Value Dividend Equity Fund AA Inc USD 0.00339999 14-Aug-15 Strategic Income Fund HA USD 0.00142321 14-Aug-15 Strategic Income Fund HC USD 0.00098649 14-Aug-15 Strategic Income Fund HI USD 0.00180368 14-Aug-15 Strategic Income Fund S Hedged SGD 0.00218266 14-Aug-15 U.S. Bond Fund AA Inc USD 0.00581020 14-Aug-15 U.S. Bond Fund AA (HKD) Inc HKD 0.04013900 14-Aug-15 U.S. Bond Fund HA USD 0.00158948 14-Aug-15 U.S. Bond Fund HC USD 0.00115539 14-Aug-15 U.S. Bond Fund HI USD 0.00196927 14-Aug-15 U.S. Special Opportunities Fund AA Inc USD 0.00323900 14-Aug-15 U.S. Special Opportunities Fund T USD 0.00355641 14-Aug-15 Asia Total Return Fund AA Inc USD 0.00200013 14-Sep-15 Asia Total Return Fund AA (HKD) Inc HKD 0.02138300 14-Sep-15 Asia Total Return Fund HA USD 0.00150861 14-Sep-15 Asia Total Return Fund HC USD 0.00112592 14-Sep-15 Asia Total Return Fund HI USD 0.00184341 14-Sep-15 Asia Value Dividend Equity Fund AA Inc USD 0.00339999 14-Sep-15 Strategic Income Fund HA USD 0.00192754 14-Sep-15 Strategic Income Fund HC USD 0.00153248 14-Sep-15 Strategic Income Fund HI USD 0.00227221 14-Sep-15 Strategic Income Fund S Hedged SGD 0.00274238 14-Sep-15 U.S. Bond Fund AA Inc USD 0.00197941 14-Sep-15 U.S. Bond Fund AA (HKD) Inc HKD 0.01995272 14-Sep-15 U.S. Bond Fund HA USD 0.00143144 14-Sep-15 U.S. Bond Fund HC USD 0.00103647 14-Sep-15 U.S. Bond Fund HI USD 0.00177341 14-Sep-15 U.S. Special Opportunities Fund AA Inc USD 0.00340064 14-Sep-15 U.S. Special Opportunities Fund T USD 0.00369997 14-Sep-15 271 MANULIFE GLOBAL FUND