MANULIFE GLOBAL FUND

MANULIFE GLOBAL FUND Société d'investissement à Capital Variable Audited Annual Report for the year ended 30 June 2017 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... 9 Statement of Changes in Net Assets... 19 Statement of Changes in Shares... 29 Statement of Operations... 37 Statistical Information... 47 Industrial Composition of Portfolios as a Percentage of Net Asset Value (Unaudited)... 76 Statement of Movements in Portfolio Holdings (Unaudited)... 83 Portfolio of Investments... 90 American Growth Fund... 90 ASEAN Equity Fund... 94 Asia Total Return Fund... 99 Asia Value Dividend Equity Fund... 108 Asian Equity Fund... 115 Asian Small Cap Equity Fund... 121 China Value Fund... 128 Dragon Growth Fund... 135 Emerging Eastern Europe Fund... 139 European Growth Fund... 143 Global Contrarian Fund... 148 Global Equity Fund... 152 Global Property Fund... 156 Global Resources Fund... 161 Greater China Opportunities Fund... 166 Healthcare Fund... 170 India Equity Fund... 173 Japanese Growth Fund... 179 Latin America Equity Fund... 183 Russia Equity Fund... 187 Strategic Income Fund... 191 Taiwan Equity Fund... 206 Turkey Equity Fund... 210 U.S. Bond Fund... 213 U.S. Small Cap Equity Fund... 234 U.S. Special Opportunities Fund... 238 U.S. Treasury Inflation-Protected Securities Fund... 248 Notes to the Financial Statements... 253 Information for Shareholders... 273 Unaudited Supplementary Information... 274

DIRECTORS AND CONDUCTING PERSONS DIRECTORS Paul Smith (Chairman) CFA Institute 23rd Floor, Man Yee Building 68 Des Voeux Road Central Hong Kong SAR Yeo Hui Chin 10th Floor Lee Gardens One 33 Hysan Avenue Causeway Bay Hong Kong SAR Christakis Partassides GFM Holdings (Cyprus) Limited 2nd Floor, Elenion Building, 5 Themistocles Dervis Str. CY -1066 Nicosia Cyprus CONDUCTING PERSONS John Li 19, rue de Bitbourg L -1273 Luxembourg Grand Duchy of Luxembourg Yves Wagner 19, rue de Bitbourg L -1273 Luxembourg Grand Duchy of Luxembourg Gianni Fiacco 16th Floor Lee Gardens Ones 33 Hysan Avenue Causeway Bay Hong Kong SAR Yves Wagner 19, rue de Bitbourg L -1273 Luxembourg Grand Duchy of Luxembourg Philip Witherington 10th Floor Lee Gardens One 33 Hysan Avenue Causeway Bay Hong Kong SAR Gianni Fiacco 16th Floor Lee Gardens One 33 Hysan Avenue Causeway Bay Hong Kong SAR 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 The Goddard Building Haggat Hall St. Michael Barbados Depositary, Administrator, Registrar and Paying Agent Citibank Europe plc, 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 Hong Kong Distributor Manulife Asset Management (Hong Kong) Limited 16th Floor Lee Gardens One 33 Hysan Avenue Causeway Bay Hong Kong SAR Tel: (852) 2510 3388 Fax: (852) 2810 9510 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 16th Floor The Lee Gardens 33 Hysan Avenue Causeway Bay Hong Kong SAR (Investment Manager of the ASEAN Equity Fund, Asia Total Return Fund, Asian Equity Fund, Asian Small Cap Equity Fund, Dragon Growth Fund, Greater China Opportunities Fund, India Equity Fund, Japanese Growth Fund and Taiwan Equity Fund) Manulife Asset Management (Europe) Limited 18 St Swithin s Lane London EC4N 8AD United Kingdom (Investment Manager of the European Growth Fund) MANULIFE GLOBAL FUND 2

MANAGEMENT AND ADMINISTRATION Manulife Asset Management (US) LLC 197 Clarendon Street, 4th Floor, Boston, MA 02116 United States of America (Investment Manager of the American Growth Fund, Global Contrarian Fund, Global Equity Fund, Global Property Fund, Global Resources 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) 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 Value Partners Limited 9th Floor, Nexxus Building 41 Connaught Road Central Hong Kong SAR (Sub-Investment Manager of the Asia Value Dividend Equity Fund) Investment Advisers 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 until 31 July 2016) Manulife Asset Management (Europe) Limited 18 St Swithin s Lane London EC4N 8AD United Kingdom (Investment Adviser to the Investment Manager of the Japanese Growth Fund since 1 August 2016) Manulife Asset Management (Taiwan) Co., Ltd. 9/F, No.89 Sungren Road Taipei 11073 Taiwan Republic of China 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 3 MANULIFE GLOBAL FUND

DIRECTORS REPORT Performance and growth of assets During the year under review, Global equity markets significantly advanced over the period due to investor optimism about the outcome of the US elections and an improving global economic backdrop. Emerging markets was the best-performing region as earnings expectations were raised and the economic backdrop improved. Energy was one of the worst-performing sectors due to the volatility in the price of oil, stemming from increased global supply. Financials was the best-performing sector, specifically in the fourth quarter of 2016, as the prospects for earnings improvement increased. During the year, equity markets performed relatively better compared to bond markets. In terms of subfunds performance, the Dragon Growth Fund posted returns over 29%, while Asian Equity Fund and Greater China Opportunities Fund recorded over 18% and 25% respectively. Year in review In US, the Fed increased its federal funds target rate three times, by 25 basis points (bps) each time. During the fourth quarter of 2016, US Treasury yields were volatile and spiked sharply in a short amount of time after the US elections. This occurred due to expectation of expansive fiscal spending and higher inflation under the new presidential administration. 10-year Treasury yields rose from 1.47% to 2.30% over the period. Asian corporate credit markets saw gains, predominately driven by the positive carry. The JP Morgan Asian Investment Grade Corporate Bond Index returned 2.26% and the JP Morgan Asian High Yield Corporate Bond Index returned 6.48% in US dollar terms. The majority of sub-funds recorded positive returns over the year. In US, the stock market hit record highs shortly before period end, aided by the following factors: Promised production cuts by the Organization of the Petroleum Exporting Countries (OPEC), positive economic data, and the Fed s decision to inch its target short-term interest rate higher last December (and again in March and June). In Europe, markets performed strongly over the past 12 months, driven by a narrowing of the deep valuation discount to US equities and moderating political risk. The UK was the worst-performing major European market over the 12 months following the country s surprise vote to exit the EU (known as Brexit ). The British pound fell sharply in response to the UK s vote in late June 2016, with currency moves accounting for much of the underperformance of UK equities. The Greater China equity markets had a strong start during the period in review due to companies reporting mostly better-than-expected earnings during the third quarter reporting season, and as China s Producer Price Index (PPI) rose from a 55-month deflation in September and continued through May 2017. This was supportive of pricing power returning to corporates, as well as an improvement of the banking industry s asset quality. MANULIFE GLOBAL FUND 4

DIRECTORS REPORT Outlook Global markets should continue to fare well in 2017. Key indices continued to rise in the second quarter, with international markets outperforming the US. The US has struggled on a relative basis as the market questions the new administration s ability to implement its economic agenda. In Europe, investor sentiment remains reasonably positive and markets welcomed the outcome of France s presidential elections. However, most price-earnings ratios for global equities remain higher than historical averages. Comparable price-earnings ratios have not been seen since the early 2000s. The biggest potential market risks stem from high global valuations and high debt levels. Despite significant efforts by central banks to kickstart economies with an injection of liquidity, inflation remains subdued. Some measures of inflation expectations have even declined to levels below those experienced during previous periods of quantitative easing. Despite this, the Fed raised rates for the second time in three months. The PMs (Portfolio Managers) believe deflation risks remain and are not being priced-in by the market this contributes to concerns about higher debt levels. The PMs maintain a negative view of the utilities sector due to high valuations, which are a result of low interest rates, though the PMs note the sector is relatively no more expensive than the broader market. The Annual General Meeting will be held on 20 October 2017. The Board of Directors 25 September 2017 5 MANULIFE GLOBAL FUND

AUDIT REPORT To the Shareholders of Manulife Global Fund Our opinion In our opinion, the accompanying financial statements give a true and fair view of the financial position of Manulife Global Fund and of each of its sub-funds (the Fund ) as at 30 June 2017, 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 and presentation of the financial statements. What we have audited The Fund s financial statements comprise: the statement of net assets as at 30 June 2017; the portfolio of investment as at 30 June 2017; the statement of operations for the year then ended; the statement of changes in net assets for the year then ended; and the notes to the financial statements, which include a summary of significant accounting policies. Basis for opinion We conducted our audit in accordance with the Law of 23 July 2016 on the audit profession (Law of 23 July 2016) and with International Standards on Auditing (ISAs) as adopted for Luxembourg by the Commission de Surveillance du Secteur Financier (CSSF). Our responsibilities under those Law and standards are further described in the Responsibilities of the Réviseur d entreprises agréé for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Fund in accordance with the International Ethics Standards Board for Accountants Code of Ethics for Professional Accountants (IESBA Code) as adopted for Luxembourg by the CSSF together with the ethical requirements that are relevant to our audit of the financial statements. We have fulfilled our other ethical responsibilities under those ethical requirements. 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 Other information The Board of Directors of the Fund is responsible for the other information. The other information comprises the information included in the annual report but does not include the financial statements and our audit report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information identified above and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of the Board of Directors of the Fund and those charged with governance for the financial statements The Board of Directors of the Fund is responsible for the preparation and fair presentation of the financial statements in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements, and for such internal control as the Board of Directors of the Fund determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Board of Directors of the Fund is responsible for assessing the Fund s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors of the Fund either intends to liquidate the Fund or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Fund s financial reporting process. Responsibilities of the Réviseur d entreprises agréé for the audit of the financial statements The objectives of our audit are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an audit report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Law of 23 July 2016 and with ISAs as adopted for Luxembourg by the CSSF will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with the Law of 23 July 2016 and with ISAs as adopted for Luxembourg by the CSSF, we exercise professional judgment and maintain professional scepticism throughout the audit. 7 MANULIFE GLOBAL FUND

AUDIT REPORT We also: identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control; obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund s internal control; evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors of the Fund; conclude on the appropriateness of the Board of Directors of the Fund s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Fund s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our audit report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our audit report. However, future events or conditions may cause the Fund to cease to continue as a going concern; evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. PricewaterhouseCoopers, Société coopérative Luxembourg, 25 September 2017 Represented by Christelle Crépin MANULIFE GLOBAL FUND 8

9 MANULIFE GLOBAL FUND STATEMENT OF NET ASSETS as at 30 June 2017 (expressed in United States Dollars) American Growth Fund ASEAN Equity Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund Securities portfolio at cost 229,258,739 5,550,245 91,614,450 14,150,567 105,143,608 245,529,979 Unrealised appreciation/(depreciation) 80,140,383 871,196 18,976 1,495,136 24,789,461 31,211,370 Securities portfolio at market value (Note 2.2) 309,399,122 6,421,441 91,633,426 15,645,703 129,933,069 276,741,349 Options purchased at market value (Note 2.7, 7) Cash at bank 18,123,650 202,508 4,887,700 1,136,648 2,109,371 7,811,456 Interest and dividends receivable, net 114,123 5,922 1,052,686 102,797 659,958 744,733 Unrealised appreciation on future contracts (Note 2.5, 7) 1,719 Amounts receivable on sales of securities 50,918 39,149 15,183,774 Amounts receivable on subscriptions 1,571,902 407,694 241,632 254,725 211,026 Tax reclaim Other assets Formation Expenses (Note 2.9) 69 Total Assets 329,208,866 6,680,789 97,983,225 17,165,929 132,957,123 300,692,338 Bank overdrafts (1) (18) (226,391) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (45,076) Unrealised depreciation on future contracts (Note 2.5, 7) Amounts payable on purchases of securities (5,239,797) (56,353) (1,000,000) (223,004) (198,797) (11,828,669) Amounts payable on redemptions (2,299,368) (268,068) (155,984) (565,144) (1,201,908) Management fees (Note 3.1) (319,053) (5,467) (62,335) (23,066) (154,443) (334,897) Other liabilities (65,338) (2,238) (17,262) (5,106) (33,862) (55,343) Total Liabilities (7,923,557) (64,058) (1,392,741) (407,178) (1,178,637) (13,420,817) Net Assets 321,285,309 6,616,731 96,590,484 16,758,751 131,778,486 287,271,521 Number of shares outstanding: Class A 6,733,473 36,555,649 Class AA 6,623,734 602,621 8,657,507 4,258,761 67,476,529 Class AA (HKD) 85,626 35,909 331,020 Class AA (HKD) Inc 1,942,840 Class AA Inc 16,219,117 1,076,592 Class HA Class HC Class HI Class I 9,097,612 5,039,812 26,571,062 773,473 95,338,105 Class I2 Class I3 39,421,725 501,435 2,160,373 Class J 47,831,836 Class S Class S Hedged Class T Net asset value per share: Class A 36.0332 3.3977 Class AA 2.0368 1.0428 1.8070 1.0945 2.1370 Class AA (HKD) 12.8730* 10.4919* 8.7570* Class AA (HKD) Inc 9.9746* Class AA Inc 0.9442 1.0351 Class HA Class HC Class HI Class I 1.7917 1.3129 1.1174 1.2659 1.4968 Class I2 Class I3 1.2360 1.1276 0.8940 Class J 1.0006 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.

STATEMENT OF NET ASSETS (continued) as at 30 June 2017 (expressed in United States Dollars) China Value Fund Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Equity Fund Securities portfolio at cost 745,474,366 177,862,584 102,061,106 94,451,142 15,806,013 111,616,365 Unrealised appreciation/(depreciation) 93,838,253 50,530,014 4,319,607 9,682,473 1,805,788 17,409,558 Securities portfolio at market value (Note 2.2) 839,312,619 228,392,598 106,380,713 104,133,615 17,611,801 129,025,923 Options purchased at market value (Note 2.7, 7) Cash at bank 9,833,269 1,159,743 1,113,838 2,263,501 291,128 2,456,556 Interest and dividends receivable, net 5,394,375 1,119,285 296,346 109,437 42,422 314,487 Unrealised appreciation on future contracts (Note 2.5, 7) Amounts receivable on sales of securities 9,099,745 842,218 279,954 45,585 1,132,987 Amounts receivable on subscriptions 888,272 1,448,761 148,789 521,323 12,668 86,706 Tax reclaim 10,567 87,185 996 7,525 Other assets Formation Expenses (Note 2.9) Total Assets 864,528,280 232,962,605 107,950,253 107,395,015 18,004,600 133,024,184 Bank overdrafts (475,816) (44) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (8,770) (73,842) Unrealised depreciation on future contracts (Note 2.5, 7) Amounts payable on purchases of securities (6,808,798) (1,506,781) (172,507) (1,728,503) Amounts payable on redemptions (2,349,264) (1,005,608) (224,210) (306,888) (101,918) (243,270) Management fees (Note 3.1) (1,026,255) (282,331) (128,828) (122,785) (24,978) (157,199) Other liabilities (204,493) (52,672) (38,115) (25,238) (6,620) (30,283) Total Liabilities (10,388,810) (2,847,392) (391,153) (930,727) (314,793) (2,233,141) Net Assets 854,139,470 230,115,213 107,559,100 106,464,288 17,689,807 130,791,043 MANULIFE GLOBAL FUND 10 Number of shares outstanding: Class A 93,898,954 81,875,216 28,513,414 8,992,623 24,398,369 Class AA 6,429,623 7,152,409 3,769,710 4,126,106 16,883,713 3,068,017 Class AA (HKD) 28,380,968 Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I 895,809 Class I2 51,937 Class I3 3,223,119 Class J Class S 9,372 Class S Hedged Class T Net asset value per share: Class A 8.9054 2.2235 3.5672 11.0101 5.2104 Class AA 2.7895 1.1982 1.5511 0.7935 1.0435 1.1947 Class AA (HKD) 10.8639* Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I 1.0030 Class I2 1.2168 Class I3 1.0183 Class J Class S 1.1229** 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.

11 MANULIFE GLOBAL FUND STATEMENT OF NET ASSETS (continued) as at 30 June 2017 (expressed in United States Dollars) Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund India Equity Fund Japanese Growth Fund Securities portfolio at cost 10,989,161 40,814,825 13,455,201 272,175,476 196,226,404 52,124,746 Unrealised appreciation/(depreciation) 4,066,765 (2,593,823) 3,355,123 27,189,972 35,983,278 7,605,827 Securities portfolio at market value (Note 2.2) 15,055,926 38,221,002 16,810,324 299,365,448 232,209,682 59,730,573 Options purchased at market value (Note 2.7, 7) Cash at bank 176,335 273,557 318,167 1,365,178 9,661,684 483,562 Interest and dividends receivable, net 39,907 27,792 92,508 174,772 413,297 58,333 Unrealised appreciation on future contracts (Note 2.5, 7) Amounts receivable on sales of securities 73,746 297,271 3,012,449 Amounts receivable on subscriptions 196,371 106,124 195,185 788,592 6,702,828 5,214,567 Tax reclaim 261 3,455 18,940 Other assets 12,764 Formation Expenses (Note 2.9) 13,438 Total Assets 15,468,800 38,705,676 17,726,893 301,725,694 251,999,940 65,487,035 Bank overdrafts (7) 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 (396,202) (7,073,528) (1,244,827) Amounts payable on redemptions (26,518) (132,505) (21,581) (1,689,939) (690,129) (525,101) Management fees (Note 3.1) (21,298) (54,315) (17,038) (415,303) (330,306) (55,004) Other liabilities (4,829) (9,956) (3,601) (66,946) (74,034) (14,213) Total Liabilities (52,645) (196,783) (438,422) (2,172,188) (8,167,997) (1,839,145) Net Assets 15,416,155 38,508,893 17,288,471 299,553,506 243,831,943 63,647,890 Number of shares outstanding: Class A 11,051,250 Class AA 14,649,559 49,726,212 3,209,630 151,932,455 143,438,573 6,874,069 Class AA (HKD) 8,312 Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I 5,577,119 Class I2 2,887,362 Class I3 169,265 122,995 12,616,139 Class J Class S Class S Hedged Class T Net asset value per share: Class A 3.8466 Class AA 1.0396 0.7716 1.1388 1.9716 1.6758 0.9781 Class AA (HKD) 9.7036* Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I 2.4445 Class I2 1.1997 Class I3 1.0437 1.1469 1.1426 Class J 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.

STATEMENT OF NET ASSETS (continued) as at 30 June 2017 (expressed in United States Dollars) Latin America Equity Fund Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund Securities portfolio at cost 44,644,541 93,323,745 41,023,879 22,583,773 34,652,081 140,200,756 Unrealised appreciation/(depreciation) 7,367,410 (1,182,187) (1,132,368) 7,832,074 1,038,976 1,189,242 Securities portfolio at market value (Note 2.2) 52,011,951 92,141,558 39,891,511 30,415,847 35,691,057 141,389,998 Options purchased at market value (Note 2.7, 7) 712 Cash at bank 555,945 1,306,263 2,399,411 411,147 93,045 2,980,629 Interest and dividends receivable, net 35,719 710,975 386,038 151,745 1,166,521 Unrealised appreciation on future contracts (Note 2.5, 7) Amounts receivable on sales of securities 155,639 172,008 3,747 36,655 Amounts receivable on subscriptions 36,679 685,509 35,275 911,075 421,099 521,683 Tax reclaim 8,485 Other assets 41 Formation Expenses (Note 2.9) 385 Total Assets 52,795,933 94,852,790 42,885,340 31,893,561 36,205,201 146,095,527 Bank overdrafts (162,903) (377,173) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (59,068) Unrealised depreciation on future contracts (Note 2.5, 7) (9,131) Amounts payable on purchases of securities (805,736) (758,498) Amounts payable on redemptions (167,366) (504,328) (93,403) (1,008,407) (455,291) (542,750) Management fees (Note 3.1) (73,650) (132,206) (40,681) (42,512) (49,200) (137,811) Other liabilities (14,206) (27,701) (20,489) (9,268) (10,788) (32,001) Total Liabilities (418,125) (664,235) (1,028,508) (1,437,360) (515,279) (1,471,060) Net Assets 52,377,808 94,188,555 41,856,832 30,456,201 35,689,922 144,624,467 MANULIFE GLOBAL FUND 12 Number of shares outstanding: Class A Class AA 60,350,090 189,486,238 28,144,976 15,177,004 47,786,551 101,725,749 Class AA (HKD) 19,805 Class AA (HKD) Inc 194,069 Class AA Inc 414,431 Class HA Class HC Class HI Class I 15,972,650 Class I2 1,800,904 Class I3 5,793,771 Class J Class S Class S Hedged 15,549,262 Class T Net asset value per share: Class A Class AA 0.8679 0.4971 1.0603 2.0067 0.7469 1.2021 Class AA (HKD) 10.4160* Class AA (HKD) Inc 9.8571* Class AA Inc 0.9793 Class HA Class HC Class HI Class I 0.9728 Class I2 1.0151 Class I3 1.0571 Class J Class S Class S Hedged 0.9018** 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.

13 MANULIFE GLOBAL FUND STATEMENT OF NET ASSETS (continued) as at 30 June 2017 (expressed in United States Dollars) U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation-Protected Securities Fund Combined for the year ended 30 June 2017 Securities portfolio at cost 26,794,764 63,528,772 8,184,040 2,999,241,328 Unrealised appreciation/(depreciation) 6,039,026 1,406,281 111,806 414,389,617 Securities portfolio at market value (Note 2.2) 32,833,790 64,935,053 8,295,846 3,413,630,945 Options purchased at market value (Note 2.7, 7) 712 Cash at bank 1,550,158 2,388,833 134,826 75,488,108 Interest and dividends receivable, net 21,766 984,804 34,087 14,254,835 Unrealised appreciation on future contracts (Note 2.5, 7) 1,719 Amounts receivable on sales of securities 835 30,426,680 Amounts receivable on subscriptions 111,108 444,307 572 22,164,472 Tax reclaim 137,414 Other assets 12,805 Formation Expenses (Note 2.9) 13,892 Total Assets 34,517,657 68,752,997 8,465,331 3,556,131,582 Bank overdrafts (1,242,353) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (186,756) Unrealised depreciation on future contracts (Note 2.5, 7) (9,131) Amounts payable on purchases of securities (47,223) (39,089,223) Amounts payable on redemptions (207,710) (47,619) (117,306) (14,951,583) Management fees (Note 3.1) (48,015) (67,965) (8,052) (4,134,993) Other liabilities (9,755) (16,600) (3,302) (854,259) Total Liabilities (312,703) (132,184) (128,660) (60,468,298) Net Assets 34,204,954 68,620,813 8,336,671 3,495,663,284 Number of shares outstanding: Class A Class AA 23,414,479 63,490,226 5,875,471 Class AA (HKD) Class AA (HKD) Inc Class AA Inc 12,006,768 387,426 Class HA Class HC Class HI Class I Class I2 Class I3 400,680 Class J Class S Class S Hedged Class T 368,386 Net asset value per share: Class A Class AA 1.4608 0.9027 1.2818 Class AA (HKD) Class AA (HKD) Inc Class AA Inc 0.9103 1.0144 Class HA Class HC Class HI Class I Class I2 Class I3 1.0292 Class J Class S Class S Hedged Class T 1.0344 The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF NET ASSETS as at 30 June 2016 (expressed in United States Dollars) American Growth Fund ASEAN Equity Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund Securities portfolio at cost 183,315,297 4,963,839 89,806,359 16,295,037 107,362,286 287,632,451 Unrealised appreciation/(depreciation) 44,007,423 964,805 (1,373,014) (1,306,514) 7,792,316 21,734,959 Securities portfolio at market value (Note 2.2) 227,322,720 5,928,644 88,433,345 14,988,523 115,154,602 309,367,410 Cash at bank 8,636,738 208,474 4,561,080 196,561 2,772,375 12,151,025 Interest and dividends receivable, net 165,953 6,726 1,140,945 137,589 318,707 728,110 Unrealised appreciation on forward foreign exchange contracts (Note 2.6, 7) 14,099 Amounts receivable on sales of securities 24,883 772,224 33,102 1,110,999 3,775,417 Amounts receivable on subscriptions 1,140,628 310,823 27,283 78,100 386,108 Tax reclaim Other assets Formation Expenses (Note 2.9) 268 96 336 Total Assets 237,266,307 6,168,727 95,218,417 15,383,058 119,434,879 326,422,505 Bank overdrafts (259) (630,380) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (200,455) Unrealised depreciation on future contracts (Note 2.5, 7) (306,339) Amounts payable on purchases of securities (18,322) (1,083,750) (57,823) (1,368,099) (17,345,884) Amounts payable on redemptions (2,722,197) (15,512) (141,809) (187,705) (1,140,123) Management fees (Note 3.1) (297,957) (4,919) (57,994) (21,916) (142,649) (357,620) Other liabilities (72,348) (2,362) (22,215) (6,308) (38,405) (89,419) Total Liabilities (3,092,761) (25,603) (1,686,265) (227,856) (2,367,238) (18,933,046) Net Assets 234,173,546 6,143,124 93,532,152 15,155,202 117,067,641 307,489,459 MANULIFE GLOBAL FUND Number of shares outstanding: Class A 7,316,629 37,563,406 Class AA 6,642,109 73,527 9,556,625 3,778,917 77,523,066 Class AA (HKD) 29,580 4,762 505,595 Class AA (HKD) Inc 6,967 Class AA Inc 11,728,405 847,012 Class I 5,856,714 5,000,000 29,501,724 5,559,669 122,771,419 Class I2 Class I3 1,467,845 547,552 Class J 49,167,079 Class S Class S Hedged Class T Net asset value per share: Class A 29.1481 2.8666 Class AA 1.6518 1.0088 1.5078 0.9216 1.8784 Class AA (HKD) 10.4434** 10.0484** 7.6509** Class AA (HKD) Inc 10.0255** Class AA Inc 0.9575 0.8805 Class I 1.4430 1.2286 1.1119 1.0622 1.3144 Class I2 Class I3 0.9848 1.0775 Class J 0.9929 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. 14

15 MANULIFE GLOBAL FUND STATEMENT OF NET ASSETS (continued) as at 30 June 2016 (expressed in United States Dollars) China Value Fund Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Equity Fund Securities portfolio at cost 777,098,652 185,727,927 110,333,054 103,523,496 19,394,626 107,503,450 Unrealised appreciation/(depreciation) (68,639,446) 4,491,235 (13,761,120) (4,281,867) (1,273,047) 5,189,605 Securities portfolio at market value (Note 2.2) 708,459,206 190,219,162 96,571,934 99,241,629 18,121,579 112,693,055 Cash at bank 60,975,787 38,795 2,028,884 3,714,492 346,589 1,906,765 Interest and dividends receivable, net 8,172,462 1,668,151 211,429 198,098 45,892 280,606 Unrealised appreciation on forward foreign exchange contracts (Note 2.6, 7) 6,256 32,776 Amounts receivable on sales of securities 3,259,608 1,200,640 226,561 1,374,880 Amounts receivable on subscriptions 846,847 1,321,794 336,123 797,351 47,634 84,843 Tax reclaim 9,895 127,693 6,120 36,897 Other assets 18,735 Formation Expenses (Note 2.9) 3,099 Total Assets 781,732,645 194,448,542 99,158,265 104,079,263 18,803,730 116,409,822 Bank overdrafts (1,107,717) (476,897) 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 (13,893,091) (68,516) (7,576) (242,366) (1,810,691) Amounts payable on redemptions (1,410,516) (1,195,189) (532,890) (897,033) (48,201) (204,863) Management fees (Note 3.1) (943,553) (244,792) (123,209) (129,531) (26,534) (143,803) Other liabilities (257,411) (52,532) (50,613) (32,713) (8,535) (27,746) Total Liabilities (16,504,571) (2,668,746) (706,712) (1,543,750) (325,636) (2,187,103) Net Assets 765,228,074 191,779,796 98,451,553 102,535,513 18,478,094 114,222,719 Number of shares outstanding: Class A 104,581,391 87,803,222 31,127,597 10,019,570 24,770,314 Class AA 7,614,528 3,048,860 6,432,922 20,194,396 2,920,385 Class AA (HKD) 36,578,532 Class AA (HKD) Inc Class AA Inc Class I 3,572,835 Class I2 51,342 Class I3 1,181,018 312,981 Class J Class S 1,196 Class S Hedged Class T Net asset value per share: Class A 7.1539 1.7332 3.0336 9.3845 4.4900 Class AA 2.2411 1.3192 0.6808 0.8971 1.0286 Class AA (HKD) 8.3993** Class AA (HKD) Inc Class AA Inc Class I 0.8746 Class I2 1.0515 Class I3 0.8485 0.9821 Class J Class S 0.9402*** 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.

STATEMENT OF NET ASSETS (continued) as at 30 June 2016 (expressed in United States Dollars) Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund India Equity Fund Japanese Growth Fund Securities portfolio at cost 10,723,691 43,005,160 11,669,996 295,449,797 166,239,647 40,398,927 Unrealised appreciation/(depreciation) 4,440,961 (3,338,960) 419,293 16,132,090 16,954,748 (119,576) Securities portfolio at market value (Note 2.2) 15,164,652 39,666,200 12,089,289 311,581,887 183,194,395 40,279,351 Cash at bank 486,458 2,956,144 170,414 3,790,656 4,380,094 645,321 Interest and dividends receivable, net 47,430 30,812 105,345 331,657 410,288 109,308 Unrealised appreciation on forward foreign exchange contracts (Note 2.6, 7) Amounts receivable on sales of securities 248,017 3,057,669 Amounts receivable on subscriptions 156,311 157,526 30,920 1,571,217 248,591 1,041,471 Tax reclaim 4,092 3,249 98,368 Other assets 12,419 Formation Expenses (Note 2.9) 21,075 Total Assets 15,858,943 43,061,948 12,417,043 317,386,204 191,291,037 42,075,451 Bank overdrafts (14) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (182) Unrealised depreciation on future contracts (Note 2.5, 7) Amounts payable on purchases of securities (658,480) (984,751) (2,732,050) Amounts payable on redemptions (2,550) (523,407) (57,749) (2,703,193) (731,227) (749,506) Management fees (Note 3.1) (22,455) (59,847) (11,985) (456,855) (261,651) (51,146) Other liabilities (6,305) (12,560) (4,288) (95,764) (74,374) (14,127) Total Liabilities (31,310) (1,254,490) (74,022) (4,240,563) (3,799,302) (814,779) Net Assets 15,827,633 41,807,458 12,343,021 313,145,641 187,491,735 41,260,672 MANULIFE GLOBAL FUND Number of shares outstanding: Class A 12,054,744 Class AA 15,040,567 52,865,876 1,855,831 171,697,123 130,014,724 2,697,596 Class AA (HKD) 32,347 Class AA (HKD) Inc Class AA Inc Class I 5,520,136 Class I2 10,931,666 Class I3 166,400 166,400 982,227 Class J Class S Class S Hedged Class T Net asset value per share: Class A 3.1651 Class AA 1.0382 0.7872 0.9047 1.8238 1.3609 0.8138 Class AA (HKD) 9.7618** Class AA (HKD) Inc Class AA Inc Class I 1.9318 Class I2 0.9661 Class I3 1.0367 1.1649 0.9278 Class J 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. 16

17 MANULIFE GLOBAL FUND STATEMENT OF NET ASSETS (continued) as at 30 June 2016 (expressed in United States Dollars) Latin America Equity Fund Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund Securities portfolio at cost 49,557,116 101,087,249 47,517,045 23,591,387 39,272,490 187,525,238 Unrealised appreciation/(depreciation) 2,380,128 (10,995,228) (1,186,760) 4,990,248 (6,740,070) 2,784,846 Securities portfolio at market value (Note 2.2) 51,937,244 90,092,021 46,330,285 28,581,635 32,532,420 190,310,084 Cash at bank 173,388 1,594,564 1,132,141 12,987 724,401 2,394,929 Interest and dividends receivable, net 42,888 289,066 428,331 135,699 1,405,636 Unrealised appreciation on forward foreign exchange contracts (Note 2.6, 7) Amounts receivable on sales of securities 290,073 264,295 Amounts receivable on subscriptions 119,112 555,903 40,668 393,002 304,391 1,968,005 Tax reclaim 10,933 Other assets Formation Expenses (Note 2.9) 1,284 Total Assets 52,272,632 92,542,487 47,932,709 29,413,396 33,561,212 196,342,949 Bank overdrafts (296,642) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (52,975) Unrealised depreciation on future contracts (Note 2.5, 7) Amounts payable on purchases of securities (149,419) (394,509) Amounts payable on redemptions (142,086) (872,804) (90,014) (212,872) (143,256) (215,714) Management fees (Note 3.1) (71,884) (132,170) (48,273) (41,257) (47,942) (186,601) Other liabilities (17,879) (42,412) (22,797) (11,151) (13,363) (52,314) Total Liabilities (231,849) (1,047,386) (363,478) (561,922) (204,561) (849,138) Net Assets 52,040,783 91,495,101 47,569,231 28,851,474 33,356,651 195,493,811 Number of shares outstanding: Class A Class AA 65,349,108 208,496,411 29,016,502 17,414,956 48,722,318 110,439,037 Class AA (HKD) 43,239 Class AA (HKD) Inc 149,629 Class AA Inc 483,312 Class I 54,010,360 Class I2 1,446,748 Class I3 4,928,955 Class J Class S Class S Hedged 21,954,109 Class T Net asset value per share: Class A Class AA 0.7964 0.4388 1.0720 1.6567 0.6846 1.2099 Class AA (HKD) 10.1886** Class AA (HKD) Inc 9.8767** Class AA Inc 0.9883 Class I 1.0376 Class I2 1.0182 Class I3 1.0368 Class J Class S Class S Hedged 0.9203*** 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.

STATEMENT OF NET ASSETS (continued) as at 30 June 2016 (expressed in United States Dollars) U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation- Protected Securities Fund Combined for the year ended 30 June 2016 Securities portfolio at cost 22,218,794 70,048,271 7,957,416 3,109,218,698 Unrealised appreciation/(depreciation) 1,900,126 (4,151,222) 198,033 17,213,992 Securities portfolio at market value (Note 2.2) 24,118,920 65,897,049 8,155,449 3,126,432,690 Cash at bank 1,012,144 2,756,074 75,535 119,842,815 Interest and dividends receivable, net 12,313 1,116,765 33,836 17,574,042 Unrealised appreciation on forward foreign exchange contracts (Note 2.6, 7) 53,131 Amounts receivable on sales of securities 40,574 1,102,883 16,781,825 Amounts receivable on subscriptions 108,157 436,268 89,974 12,599,050 Tax reclaim 297,247 Other assets 31,154 Formation Expenses (Note 2.9) 669 26,827 Total Assets 25,292,108 71,309,708 8,354,794 3,293,638,781 Bank overdrafts (2,511,909) Unrealised depreciation on forward foreign exchange contracts (Note 2.6, 7) (253,612) Unrealised depreciation on future contracts (Note 2.5, 7) (306,339) Amounts payable on purchases of securities (132) (146,096) (40,961,555) Amounts payable on redemptions (86,427) (102,398) (23,697) (15,152,938) Management fees (Note 3.1) (37,238) (73,089) (8,120) (4,004,990) Other liabilities (9,923) (22,834) (4,069) (1,064,767) Total Liabilities (133,720) (344,417) (35,886) (64,256,110) Net Assets 25,158,388 70,965,291 8,318,908 3,229,382,671 MANULIFE GLOBAL FUND 18 Number of shares outstanding: Class A Class AA 22,041,489 69,899,251 5,891,009 Class AA (HKD) Class AA (HKD) Inc Class AA Inc 11,151,779 156,914 Class I 1,001,710 Class I2 Class I3 192,035 416,000 Class J Class S Class S Hedged Class T 545,805 Net asset value per share: Class A Class AA 1.1414 0.8544 1.3109 Class AA (HKD) Class AA (HKD) Inc Class AA Inc 0.8615 1.0374 Class I 0.8906 Class I2 Class I3 1.0927 1.0426 Class J Class S Class S Hedged Class T 0.9813 The Notes to the Financial Statements form an integral part of these financial statements.

19 MANULIFE GLOBAL FUND STATEMENT OF CHANGES IN NET ASSETS for the year ended 30 June 2017 (expressed in United States Dollars) American Growth Fund ASEAN Equity Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund Net assets at the beginning of the year 234,173,546 6,143,124 93,532,152 15,155,202 117,067,641 307,489,459 Net investment income/(deficit) (721,554) 67,500 3,152,955 160,805 480,713 1,046,000 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 27,372,749 514,640 (1,431,502) 306,560 3,604,567 32,483,304 foreign currency (Note 2.4) (21,380) (14,209) 27,016 309 (100,497) (2,306,326) forward foreign exchange contracts (Note 2.6) (715) 154,339 (525) 1,617 (659,093) futures contracts (Note 2.5) (59,527) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 36,132,960 (93,609) 1,391,990 2,801,650 16,997,145 9,476,411 forward foreign exchange contracts (Note 2.6) 155,379 (14,099) futures contracts (Note 2.5) 308,058 62,762,775 473,607 3,698,708 3,268,799 20,983,545 40,026,197 Amounts received on subscription of shares 117,574,744 47,922 25,188,169 6,047,136 32,138,316 44,008,432 Amounts paid on redemption of shares (93,215,807) (22,265,769) (7,339,537) (37,864,482) (103,325,072) Dividends paid during the year (Note 5) (9,949) (47,922) (3,562,776) (372,849) (546,534) (927,495) Net assets at the end of the year 321,285,309 6,616,731 96,590,484 16,758,751 131,778,486 287,271,521 The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2017 (expressed in United States Dollars) China Value Fund Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Equity Fund Net assets at the beginning of the year 765,228,074 191,779,796 98,451,553 102,535,513 18,478,094 114,222,719 Net investment income/(deficit) 2,487,366 89,984 1,313,724 1,148,009 46,671 722,342 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 19,052,883 8,387,350 (400,148) 3,390,844 (308,151) 6,078,879 foreign currency (Note 2.4) 367,199 (19,097) (6,320) 4,229 (765) 26,067 forward foreign exchange contracts (Note 2.6) 836 280 19,571 46,527 203,498 futures contracts (Note 2.5) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 162,477,699 46,038,779 18,080,727 13,964,340 3,078,835 12,219,953 forward foreign exchange contracts (Note 2.6) (15,026) (106,618) futures contracts (Note 2.5) 184,385,983 54,497,016 18,988,263 18,526,993 2,848,091 19,144,121 Amounts received on subscription of shares 97,877,391 85,737,916 14,231,592 21,727,383 2,538,271 21,977,377 Amounts paid on redemption of shares (188,318,084) (100,209,347) (22,050,038) (34,548,046) (6,114,381) (23,797,064) Dividends paid during the year (Note 5) (5,033,894) (1,690,168) (2,062,270) (1,777,555) (60,268) (756,110) Net assets at the end of the year 854,139,470 230,115,213 107,559,100 106,464,288 17,689,807 130,791,043 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 20

21 MANULIFE GLOBAL FUND STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund India Equity Fund Japanese Growth Fund Net assets at the beginning of the year 15,827,633 41,807,458 12,343,021 313,145,641 187,491,735 41,260,672 Net investment income/(deficit) 97,147 (165,473) 12,213 (1,046,381) (4,936,108) 208,829 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 369,730 (1,587,671) 438,793 12,571,964 29,462,716 2,528,690 foreign currency (Note 2.4) (640) 160 2,346 (16,382) 159,574 (79,213) forward foreign exchange contracts (Note 2.6) 1,599 85 (758) futures contracts (Note 2.5) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) (374,196) 745,137 2,935,830 11,057,882 19,028,530 7,725,403 forward foreign exchange contracts (Note 2.6) 182 futures contracts (Note 2.5) 93,640 (1,007,580) 3,389,182 22,567,083 43,714,712 10,382,951 Amounts received on subscription of shares 3,770,333 22,479,031 6,078,898 88,106,194 89,276,604 49,667,961 Amounts paid on redemption of shares (4,208,633) (24,743,598) (4,471,995) (124,265,412) (76,651,108) (37,540,227) Dividends paid during the year (Note 5) (66,818) (26,418) (50,635) (123,467) Net assets at the end of the year 15,416,155 38,508,893 17,288,471 299,553,506 243,831,943 63,647,890 The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Latin America Equity Fund Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund Net assets at the beginning of the year 52,040,783 91,495,101 47,569,231 28,851,474 33,356,651 195,493,811 Net investment income/(deficit) 272,836 1,860,988 1,203,172 172,656 12,864 4,421,618 Net profits/(losses) realised on: sale of investments and options (Note 2.2) (650,248) 3,606,886 (532,933) 2,995,087 (3,771,525) 456,904 foreign currency (Note 2.4) (27,804) (70,006) 14,307 5,871 (61,841) (1,484) forward foreign exchange contracts (Note 2.6) (1,165) (586,010) 704 (41) futures contracts (Note 2.5) 151,186 Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 4,987,282 9,813,041 44,012 2,841,826 7,779,046 (1,595,604) forward foreign exchange contracts (Note 2.6) (6,093) futures contracts (Note 2.5) (9,131) 4,580,901 15,210,909 278,510 6,015,440 3,959,248 3,281,393 Amounts received on subscription of shares 15,925,990 48,773,112 4,111,851 30,959,582 26,558,593 40,307,392 Amounts paid on redemption of shares (20,117,189) (59,181,602) (8,843,484) (35,115,608) (27,955,944) (89,718,415) Dividends paid during the year (Note 5) (52,677) (2,108,965) (1,259,276) (254,687) (228,626) (4,739,714) Net assets at the end of the year 52,377,808 94,188,555 41,856,832 30,456,201 35,689,922 144,624,467 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 22

86,074,888 8,379,924 3,579,384,889 23 MANULIFE GLOBAL FUND STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2017 (expressed in United States Dollars) U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation- Protected Securities Fund Combined for the year ended 30 June 2017 86,074,888 8,379,924 3,579,384,889 Net assets at the beginning of the year 25,158,388 70,965,291 8,318,908 3,229,382,671 Net investment income/(deficit) (272,522) 86,074,888 3,203,598 (70,705) 3,579,384,889 14,969,247 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 3,426,310 (1,475,219) (25,377) 146,866,082 foreign currency (Note 2.4) (469) (603) (95) (2,120,053) forward foreign exchange contracts (Note 2.6) (819,251) futures contracts (Note 2.5) 91,659 Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 4,138,900 5,557,503 (86,227) 397,165,245 forward foreign exchange contracts (Note 2.6) 13,725 futures contracts (Note 2.5) 298,927 86,074,888 8,379,924 3,579,384,889 7,292,219 7,285,279 (182,404) 556,465,581 Amounts received on subscription of shares 17,515,439 86,074,888 24,708,916 2,494,412 3,579,384,889 939,828,957 Amounts paid on redemption of shares (15,761,092) (30,817,592) (2,292,793) (1,200,732,319) Dividends paid during the year (Note 5) (3,521,081) (1,452) (29,281,606) 86,074,888 8,379,924 3,579,384,889 Net assets at the end of the year 34,204,954 68,620,813 8,336,671 3,495,663,284 The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF CHANGES IN NET ASSETS for the year ended 30 June 2016 (expressed in United States Dollars) American Growth Fund ASEAN Equity Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund Net assets at the beginning of the year 224,906,656 92,329,556 19,190,270 112,064,934 433,388,275 Net investment income/(deficit) (1,303,457) 42,847 3,149,752 315,546 337,973 596,093 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 8,106,052 228,836 (840,095) 674,924 (10,573,091) (62,658,311) foreign currency (Note 2.4) 4,244 (93,443) (176,856) (11,973) (1,005,809) (3,126,443) forward foreign exchange contracts (Note 2.6) 79 200,679 422 (1,008,905) (3,068,181) futures contracts (Note 2.5) 154,521 Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) (11,253,555) 964,805 2,276,711 (4,663,902) (1,839,400) (22,163,763) forward foreign exchange contracts (Note 2.6) (243,025) 22,872 futures contracts (Note 2.5) (328,527) (4,446,716) 1,143,124 4,193,160 (3,684,983) (14,089,232) (90,397,733) Amounts received on subscription of shares 106,611,159 5,000,000 18,150,202 4,655,292 61,124,676 61,523,161 Amounts paid on redemption of shares (92,896,833) (17,638,382) (4,973,699) (41,477,948) (92,266,688) Dividends paid during the year (Note 5) (720) (3,502,384) (31,678) (554,789) (4,757,556) Net assets at the end of the year 234,173,546 6,143,124 93,532,152 15,155,202 117,067,641 307,489,459 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 24

25 MANULIFE GLOBAL FUND STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2016 (expressed in United States Dollars) China Value Fund Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Equity Fund Net assets at the beginning of the year 1,130,218,662 154,927,067 109,665,571 97,738,458 22,162,014 18,030,246 Net investment income/(deficit) 4,737,924 1,685,792 2,135,770 1,731,816 54,073 1,035,936 Net profits/(losses) realised on: sale of investments and options (Note 2.2) (1,996,316) (15,649,346) (3,880,078) (8,085,204) (389,437) 1,767,716 foreign currency (Note 2.4) (103,195) 5,928 (291,867) (53,839) 4,521 (65,020) forward foreign exchange contracts (Note 2.6) (1,276) (106) (71,557) (166,908) futures contracts (Note 2.5) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) (301,798,480) (19,155,014) (5,763,068) (6,825,162) (755,872) 2,244,738 forward foreign exchange contracts (Note 2.6) 6,256 32,776 futures contracts (Note 2.5) (299,161,343) (33,112,746) (7,799,243) (13,232,389) (1,152,016) 4,849,238 Amounts received on subscription of shares 120,828,135 140,815,388 17,116,964 67,399,838 2,998,314 103,622,973 Amounts paid on redemption of shares (179,928,997) (69,573,559) (18,300,259) (48,613,985) (5,494,596) (12,274,941) Dividends paid during the year (Note 5) (6,728,383) (1,276,354) (2,231,480) (756,409) (35,622) (4,797) Net assets at the end of the year 765,228,074 191,779,796 98,451,553 102,535,513 18,478,094 114,222,719 The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2016 (expressed in United States Dollars) Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund India Equity Fund Japanese Growth Fund Net assets at the beginning of the year 16,782,087 33,715,806 18,708,038 295,710,246 197,832,959 38,784,532 Net investment income/(deficit) 65,449 24,980 26,117 (1,046,103) (3,111,553) 100,067 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 709,178 (1,131,651) (1,467,888) 8,818,118 4,225,101 (2,306,377) foreign currency (Note 2.4) (3,184) (1,934) (7,981) 17,150 (423,095) 15,550 forward foreign exchange contracts (Note 2.6) (30) 286 (26) 14 futures contracts (Note 2.5) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) (177,422) 3,140,138 (1,966,785) (35,989,129) (6,396,343) (1,491,155) forward foreign exchange contracts (Note 2.6) (182) futures contracts (Note 2.5) 593,991 2,031,637 (3,416,537) (28,199,990) (5,705,890) (3,681,901) Amounts received on subscription of shares 2,803,757 20,114,006 2,228,723 144,340,156 55,431,889 40,235,579 Amounts paid on redemption of shares (4,338,519) (14,053,991) (4,988,186) (98,704,393) (60,059,519) (33,994,935) Dividends paid during the year (Note 5) (13,683) (189,017) (378) (7,704) (82,603) Net assets at the end of the year 15,827,633 41,807,458 12,343,021 313,145,641 187,491,735 41,260,672 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 26

27 MANULIFE GLOBAL FUND STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2016 (expressed in United States Dollars) Latin America Equity Fund Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund Net assets at the beginning of the year 59,999,330 101,753,093 57,497,856 32,315,901 40,801,352 147,976,549 Net investment income/(deficit) 28,145 2,015,284 1,422,465 242,872 134,878 4,567,275 Net profits/(losses) realised on: sale of investments and options (Note 2.2) (10,584,450) (6,923,211) (1,398,891) (1,176,148) (4,208,541) (1,597,251) foreign currency (Note 2.4) (41,502) (160,086) (11,374) (87,773) 500 (727) forward foreign exchange contracts (Note 2.6) (948) 734,033 futures contracts (Note 2.5) (109,876) Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) 5,172,843 4,733,018 1,252,367 (141,857) (1,301,717) 3,479,564 forward foreign exchange contracts (Note 2.6) (811,710) futures contracts (Note 2.5) (5,425,912) (334,995) 1,077,014 (1,162,906) (5,374,880) 6,448,861 Amounts received on subscription of shares 16,396,585 29,222,415 6,163,315 19,893,734 15,315,496 117,462,309 Amounts paid on redemption of shares (18,901,444) (36,870,491) (15,444,935) (22,057,765) (17,385,317) (71,824,182) Dividends paid during the year (Note 5) (27,776) (2,274,921) (1,724,019) (137,490) (4,569,726) Net assets at the end of the year 52,040,783 91,495,101 47,569,231 28,851,474 33,356,651 195,493,811 The Notes to the Financial Statements form an integral part of these financial statements.

86,074,888 8,379,924 3,579,384,889 STATEMENT OF CHANGES IN NET ASSETS (continued) for the year ended 30 June 2016 (expressed in United States Dollars) U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation- Protected Securities Fund Combined for the year ended 30 June 2016 86,074,888 8,379,924 3,579,384,889 Net assets at the beginning of the year 28,430,619 86,074,888 8,379,924 3,579,384,889 Net investment income/(deficit) (210,916) 86,074,888 3,601,256 (55,702) 3,579,384,889 22,324,579 Net profits/(losses) realised on: sale of investments and options (Note 2.2) 284,973 (5,823,313) (64,823) (115,939,524) foreign currency (Note 2.4) 244 (244) (19) (5,618,227) forward foreign exchange contracts (Note 2.6) (3,382,424) futures contracts (Note 2.5) 44,645 Net change in unrealised appreciation/(depreciation) on: investments and options (Note 2.2) (1,201,463) 1,315,834 291,322 (398,012,747) forward foreign exchange contracts (Note 2.6) (993,013) futures contracts (Note 2.5) (328,527) 86,074,888 8,379,924 3,579,384,889 (1,127,162) (906,467) 170,778 (501,905,238) Amounts received on subscription of shares 4,961,684 86,074,888 28,856,423 1,995,196 3,579,384,889 1,215,267,369 Amounts paid on redemption of shares (7,105,218) (38,629,278) (2,226,990) (1,030,025,050) Dividends paid during the year (Note 5) (1,535) (4,430,275) (33,339,299) 86,074,888 8,379,924 3,579,384,889 Net assets at the end of the year 25,158,388 70,965,291 8,318,908 3,229,382,671 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 28

29 MANULIFE GLOBAL FUND American Growth Fund STATEMENT OF CHANGES IN SHARES for the year ended 30 June 2017 ASEAN Equity Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Shares outstanding as at 30 June 2016 Class A 7,316,629 37,563,406 104,581,391 Class AA 6,642,109 73,527 9,556,625 3,778,917 77,523,066 7,614,528 Class AA (HKD) 29,580 4,762 505,595 Class AA (HKD) Inc 6,967 Class AA Inc 11,728,405 847,012 Class I 5,856,714 5,000,000 29,501,724 5,559,669 122,771,419 Class I2 Class I3 1,467,845 547,552 Class J 49,167,079 Class S Class S Hedged Class T Total subscriptions Class A 1,378,516 6,104,010 12,069,076 Class AA 12,424,796 1,466,934 3,200,319 1,575,084 14,693,785 408,796 Class AA (HKD) 294,290 281,525 191,928 Class AA (HKD) Inc 2,413,615 Class AA Inc 12,583,520 736,354 Class I 5,788,386 39,812 2,058,011 7,399,410 9,933,549 Class I2 Class I3 38,843,943 505,201 4,496,983 Class J 5,563,761 Class S Class S Hedged Class T Total redemptions Class A 1,961,672 7,111,767 22,751,513 Class AA 12,443,171 937,840 4,099,437 1,095,240 24,740,322 1,593,701 Class AA (HKD) 238,244 250,378 366,503 Class AA (HKD) Inc 477,742 Class AA Inc 8,092,808 506,774 Class I 2,547,488 4,988,673 12,185,606 37,366,863 Class I2 Class I3 890,063 551,318 2,336,610 Class J 6,899,004 Class S Class S Hedged Class T Shares outstanding as at 30 June 2017 Class A 6,733,473 36,555,649 93,898,954 Class AA 6,623,734 602,621 8,657,507 4,258,761 67,476,529 6,429,623 Class AA (HKD) 85,626 35,909 331,020 Class AA (HKD) Inc 1,942,840 Class AA Inc 16,219,117 1,076,592 Class I 9,097,612 5,039,812 26,571,062 773,473 95,338,105 Class I2 Class I3 39,421,725 501,435 2,160,373 Class J 47,831,836 Class S Class S Hedged Class T The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF CHANGES IN SHARES (continued) for the year ended 30 June 2017 MANULIFE GLOBAL FUND 30 Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Equity Fund Global Property Fund Global Resources Fund Shares outstanding as at 30 June 2016 Class A 87,803,222 31,127,597 10,019,570 24,770,314 Class AA 3,048,860 6,432,922 20,194,396 2,920,385 15,040,567 52,865,876 Class AA (HKD) 36,578,532 32,347 Class AA (HKD) Inc Class AA Inc Class I 3,572,835 Class I2 51,342 Class I3 1,181,018 312,981 166,400 166,400 Class J Class S 1,196 Class S Hedged Class T Total subscriptions Class A 33,171,992 3,603,840 1,710,697 3,565,908 Class AA 7,405,488 1,615,785 890,718 2,279,922 4,282,019 3,642,365 27,804,721 Class AA (HKD) 10,428,790 7,429 14,921 Class AA (HKD) Inc Class AA Inc Class I 165,800 Class I2 595 Class I3 4,046,195 319,719 2,915 2,060 Class J Class S 13,103 Class S Hedged Class T Total redemptions Class A 39,099,998 6,218,023 2,737,644 3,937,853 Class AA 253,079 894,935 3,197,534 5,590,605 4,134,387 4,033,373 30,944,385 Class AA (HKD) 18,626,354 7,429 38,956 Class AA (HKD) Inc Class AA Inc Class I 2,842,826 Class I2 Class I3 2,004,094 632,700 50 45,465 Class J Class S 4,927 Class S Hedged Class T Shares outstanding as at 30 June 2017 Class A 81,875,216 28,513,414 8,992,623 24,398,369 Class AA 7,152,409 3,769,710 4,126,106 16,883,713 3,068,017 14,649,559 49,726,212 Class AA (HKD) 28,380,968 8,312 Class AA (HKD) Inc Class AA Inc Class I 895,809 Class I2 51,937 Class I3 3,223,119 169,265 122,995 Class J Class S 9,372 Class S Hedged Class T The Notes to the Financial Statements form an integral part of these financial statements.

31 MANULIFE GLOBAL FUND STATEMENT OF CHANGES IN SHARES (continued) for the year ended 30 June 2017 Greater China Opportunities Fund Healthcare Fund India Equity Fund Japanese Growth Fund Latin America Equity Fund Russia Equity Fund Strategic Income Fund Shares outstanding as at 30 June 2016 Class A 12,054,744 Class AA 1,855,831 171,697,123 130,014,724 2,697,596 65,349,108 208,496,411 29,016,502 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class I 5,520,136 Class I2 10,931,666 1,446,748 Class I3 982,227 Class J Class S Class S Hedged 21,954,109 Class T Total subscriptions Class A 7,215,170 Class AA 5,691,217 47,690,111 54,982,683 6,126,454 19,056,252 97,604,667 2,704,498 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class I 122,587 Class I2 5,571,272 665,728 Class I3 18,005,372 Class J Class S Class S Hedged 913,198 Class T Total redemptions Class A 8,218,664 Class AA 4,337,418 67,454,779 41,558,834 1,949,981 24,055,270 116,614,840 3,576,024 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class I 65,604 Class I2 13,615,576 311,572 Class I3 6,371,460 Class J Class S Class S Hedged 7,318,045 Class T Shares outstanding as at 30 June 2017 Class A 11,051,250 Class AA 3,209,630 151,932,455 143,438,573 6,874,069 60,350,090 189,486,238 28,144,976 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class I 5,577,119 Class I2 2,887,362 1,800,904 Class I3 12,616,139 Class J Class S Class S Hedged 15,549,262 Class T 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 2017 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 Shares outstanding as at 30 June 2016 Class A Class AA 17,414,956 48,722,318 110,439,037 22,041,489 69,899,251 5,891,009 Class AA (HKD) 43,239 Class AA (HKD) Inc 149,629 Class AA Inc 483,312 11,151,779 156,914 Class I 54,010,360 1,001,710 Class I2 Class I3 4,928,955 192,035 416,000 Class J Class S Class S Hedged Class T 545,805 Total subscriptions Class A Class AA 16,670,115 42,413,755 27,997,533 12,873,101 23,800,902 1,681,834 Class AA (HKD) 303,586 7,441 Class AA (HKD) Inc 312,092 28,910 Class AA Inc 63,941 1,349,606 303,083 Class I 1,440,251 2,274,689 Class I2 Class I3 4,414,874 377,055 9,990 Class J Class S Class S Hedged Class T 12,632 Total redemptions Class A Class AA 18,908,067 43,349,522 36,710,821 11,500,111 30,209,927 1,697,372 Class AA (HKD) 327,020 7,441 Class AA (HKD) Inc 267,652 28,910 Class AA Inc 132,822 494,617 72,571 Class I 39,477,961 3,276,399 Class I2 Class I3 3,550,058 569,090 25,310 Class J Class S Class S Hedged Class T 190,051 Shares outstanding as at 30 June 2017 Class A Class AA 15,177,004 47,786,551 101,725,749 23,414,479 63,490,226 5,875,471 Class AA (HKD) 19,805 Class AA (HKD) Inc 194,069 Class AA Inc 414,431 12,006,768 387,426 Class I 15,972,650 Class I2 Class I3 5,793,771 400,680 Class J Class S Class S Hedged Class T 368,386 The Notes to the Financial Statements form an integral part of these financial statements.

33 MANULIFE GLOBAL FUND American Growth Fund STATEMENT OF CHANGES IN SHARES for the year ended 30 June 2016 ASEAN Equity Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Shares outstanding as at 30 June 2015 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 Total subscriptions Class A 2,074,892 18,314,010 15,222,934 Class AA 17,097,032 25,995 2,826,423 1,896,618 19,526,658 736,510 Class AA (HKD) 34,596 4,762 128,520 Class AA (HKD) Inc 272 Class AA Inc 3,234,077 215,130 Class HA 1,081 126 92 Class HC 910 Class HI 1,237 446 Class I 11,533,572 5,000,000 5,172,502 9,784,912 15,984,923 Class I2 Class I3 2,175,317 547,552 549,885 Class J 9,406,393 Class S Class S Hedged Class T Total redemptions Class A 1,646,800 5,202,316 22,810,370 Class AA 13,626,248 80,968 3,222,655 5,242,943 22,380,401 1,762,660 Class AA (HKD) 6,886 84,630 Class AA (HKD) Inc 48,668 Class AA Inc 3,492,644 16,076 Class HA 50,000 54,447 50,153 50,215 Class HC 50,000 53,570 50,000 50,000 Class HI 50,000 55,229 50,678 453,714 Class I 13,745,656 10,723,534 20,252,877 36,467,167 Class I2 Class I3 1,326,671 951,785 Class J 2,654,113 Class S Class S Hedged Class T Shares outstanding as at 30 June 2016 Class A 7,316,629 37,563,406 104,581,391 Class AA 6,642,109 73,527 9,556,625 3,778,917 77,523,066 7,614,528 Class AA (HKD) 29,580 4,762 505,595 Class AA (HKD) Inc 6,967 Class AA Inc 11,728,405 847,012 Class HA Class HC Class HI Class I 5,856,714 5,000,000 29,501,724 5,559,669 122,771,419 Class I2 Class I3 1,467,845 547,552 Class J 49,167,079 Class S Class S Hedged Class T The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF CHANGES IN SHARES (continued) for the year ended 30 June 2016 MANULIFE GLOBAL FUND 34 Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Equity Fund Global Property Fund Global Resources Fund Shares outstanding as at 30 June 2015 Class A 45,553,691 31,554,087 7,841,983 2,728,294 Class AA 3,175,020 7,731,749 22,466,028 4,450,975 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 Total subscriptions Class A 72,028,098 3,897,733 4,260,147 23,870,506 Class AA 4,057,723 12,784,685 2,736,031 2,472,877 2,674,241 29,555,929 Class AA (HKD) 14,354,931 8,192 Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI 175 Class I 15,855,849 Class I2 1,342 Class I3 2,656,214 553,981 166,400 166,400 Class J Class S 47 Class S Hedged Class T Total redemptions Class A 29,778,567 4,324,223 2,082,560 1,828,486 Class AA 4,183,883 14,083,512 5,007,663 4,003,467 4,422,840 20,390,181 Class AA (HKD) 13,570,023 Class AA (HKD) Inc Class AA Inc Class HA 50,000 Class HC 50,000 Class HI 50,232 Class I 17,001,617 Class I2 Class I3 1,890,310 868,790 Class J Class S Class S Hedged Class T Shares outstanding as at 30 June 2016 Class A 87,803,222 31,127,597 10,019,570 24,770,314 Class AA 3,048,860 6,432,922 20,194,396 2,920,385 15,040,567 52,865,876 Class AA (HKD) 36,578,532 32,347 Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I 3,572,835 Class I2 51,342 Class I3 1,181,018 312,981 166,400 166,400 Class J Class S 1,196 Class S Hedged Class T The Notes to the Financial Statements form an integral part of these financial statements.

35 MANULIFE GLOBAL FUND STATEMENT OF CHANGES IN SHARES (continued) for the year ended 30 June 2016 Greater China Opportunities Fund Healthcare Fund India Equity Fund Japanese Growth Fund Latin America Equity Fund Russia Equity Fund Strategic Income Fund Shares outstanding as at 30 June 2015 Class A 9,790,905 Class AA 2,496,826 147,944,325 133,163,881 4,131,004 69,129,647 226,397,713 29,295,254 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA 53,753 Class HC 53,042 Class HI 54,394 Class I 6,351,712 Class I2 11,893,449 1,020,129 Class I3 700,060 710,936 457,039 Class J Class S Class S Hedged 35,991,913 Class T Total subscriptions Class A 9,229,102 Class AA 1,822,182 76,821,688 35,805,495 10,547,089 22,304,636 71,640,901 3,632,979 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA 1,135 Class HC 961 Class HI 1,285 Class I 205,837 Class I2 8,211,904 652,851 Class I3 134,685 240,400 1,369,311 Class J Class S Class S Hedged 2,552,028 Class T Total redemptions Class A 6,965,263 Class AA 2,463,177 53,068,890 38,954,652 11,980,497 26,085,175 89,542,203 3,911,731 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA 54,888 Class HC 54,003 Class HI 55,679 Class I 1,037,413 Class I2 9,173,687 226,232 Class I3 834,745 951,336 844,123 Class J Class S Class S Hedged 16,589,832 Class T Shares outstanding as at 30 June 2016 Class A 12,054,744 Class AA 1,855,831 171,697,123 130,014,724 2,697,596 65,349,108 208,496,411 29,016,502 Class AA (HKD) Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I 5,520,136 Class I2 10,931,666 1,446,748 Class I3 982,227 Class J Class S Class S Hedged 21,954,109 Class T The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF CHANGES IN SHARES (continued) for the year ended 30 June 2016 MANULIFE GLOBAL FUND 36 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 Shares outstanding as at 30 June 2015 Class A Class AA 18,809,293 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 Total subscriptions Class A Class AA 12,810,376 22,057,042 46,412,519 4,133,835 24,799,059 1,114,918 Class AA (HKD) 72,911 Class AA (HKD) Inc 55,978 Class AA Inc 1,146,056 1,317,677 156,914 Class HA 905 Class HC 732 Class HI 1,058 Class I 57,227,618 6,870,229 Class I2 Class I3 3,378,410 431,547 192,035 416,000 Class J Class S Class S Hedged Class T 65,512 Total redemptions Class A Class AA 14,204,713 24,882,157 44,001,324 5,396,852 30,964,177 1,754,470 Class AA (HKD) 39,451 Class AA (HKD) Inc Class AA Inc 2,596,914 1,982,575 Class HA 55,616 50,000 Class HC 54,717 50,000 Class HI 56,415 50,000 Class I 16,799,004 11,320,458 Class I2 Class I3 1,052,887 Class J Class S Class S Hedged Class T 66,346 Shares outstanding as at 30 June 2016 Class A Class AA 17,414,956 48,722,318 110,439,037 22,041,489 69,899,251 5,891,009 Class AA (HKD) 43,239 Class AA (HKD) Inc 149,629 Class AA Inc 483,312 11,151,779 156,914 Class HA Class HC Class HI Class I 54,010,360 1,001,710 Class I2 Class I3 4,928,955 192,035 416,000 Class J Class S Class S Hedged Class T 545,805 The Notes to the Financial Statements form an integral part of these financial statements.

37 MANULIFE GLOBAL FUND Income STATEMENT OF OPERATIONS for the year ended 30 June 2017 (expressed in United States Dollars) American Growth Fund ASEAN Equity Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund Dividends (Note 2.3) 3,633,755 174,756 544,911 2,528,538 6,028,992 Bond interest (Note 2.3) 4,112,990 Deposit interest (Note 2.3) 21 1,065 524 730 Other income 129,136 Expenses 3,633,755 174,777 4,114,055 544,911 2,658,198 6,029,722 Management fees (Note 3.1) 3,836,594 62,226 711,227 275,802 1,829,490 4,279,589 Administration fees (Note 3.3) 238,033 23,276 113,133 41,919 146,182 244,874 Depositary fees (Note 3.3) 49,526 16,626 38,282 43,958 73,121 208,785 Taxation (Note 4) 130,245 628 57,186 7,935 60,377 88,802 Printing and publishing expenses 14,076 643 4,606 1,026 5,225 12,170 Legal and other professional fees 37,106 781 15,885 8,856 39,985 89,323 Audit fees 37,204 803 16,223 1,965 14,901 27,606 Directors fees and expenses 1 4,624 99 1,492 256 1,954 5,048 Amortisation of formation expenses (Note 2.9) 199 88 96 336 Bank charges 71 25 325 36 1,041 9,884 Other expenses 7,631 2,082 2,741 2,353 5,113 17,305 4,355,309 107,277 961,100 384,106 2,177,485 4,983,722 Net investment income/(deficit) (721,554) 67,500 3,152,955 160,805 480,713 1,046,000 1 Refer to note 3 of the unaudited supplementary information The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF OPERATIONS (continued) for the year ended 30 June 2017 (expressed in United States Dollars) China Value Fund Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Equity Fund Income Dividends (Note 2.3) 16,468,826 3,770,036 3,386,954 2,946,533 464,624 2,806,889 Bond interest (Note 2.3) Deposit interest (Note 2.3) 2 2 30 Other income 885 10,012 1,809 12,450 Expenses 16,468,828 3,770,036 3,387,839 2,956,545 466,435 2,819,369 MANULIFE GLOBAL FUND 38 Management fees (Note 3.1) 12,335,043 3,262,624 1,569,541 1,522,361 315,682 1,856,708 Administration fees (Note 3.3) 689,680 187,177 243,910 126,953 55,914 103,978 Depositary fees (Note 3.3) 271,095 36,065 126,458 33,729 18,716 19,538 Taxation (Note 4) 413,563 107,432 52,539 50,483 8,990 62,698 Printing and publishing expenses 32,986 8,779 4,549 4,520 1,117 10,706 Legal and other professional fees 121,198 26,369 21,526 26,863 7,715 15,596 Audit fees 65,877 29,974 26,111 25,707 5,936 21,086 Directors fees and expenses 1 13,370 3,255 1,666 1,691 304 1,819 Amortisation of formation expenses (Note 2.9) 3,099 Bank charges 2,343 312 2,912 10,795 65 1,188 Other expenses 36,307 18,065 24,903 5,434 2,226 3,710 13,981,462 3,680,052 2,074,115 1,808,536 419,764 2,097,027 Net investment income/(deficit) 2,487,366 89,984 1,313,724 1,148,009 46,671 722,342 1 Refer to note 3 of the unaudited supplementary information The Notes to the Financial Statements form an integral part of these financial statements.

39 MANULIFE GLOBAL FUND Income STATEMENT OF OPERATIONS (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund India Equity Fund Japanese Growth Fund Dividends (Note 2.3) 449,564 704,738 273,729 4,812,383 2,513,245 1,013,859 Bond interest (Note 2.3) Deposit interest (Note 2.3) 4 9 Other income 1,525 4,468 30,058 Expenses 451,093 709,215 273,729 4,842,441 2,513,245 1,013,859 Management fees (Note 3.1) 268,300 759,861 183,736 5,357,505 3,433,005 649,463 Administration fees (Note 3.3) 54,392 66,606 37,752 205,955 160,012 90,897 Depositary fees (Note 3.3) 11,859 9,789 17,276 28,004 334,980 22,345 Taxation (Note 4) 7,661 21,252 2,889 151,750 3,355,351 23,160 Printing and publishing expenses 1,006 2,121 990 12,390 8,515 2,848 Legal and other professional fees 6,186 6,223 8,032 71,995 129,886 6,463 Audit fees 3,697 6,721 1,916 46,460 19,432 7,552 Directors fees and expenses 1 254 688 238 5,018 3,186 806 Amortisation of formation expenses (Note 2.9) 7,637 Bank charges 29 75 22 1,545 48 379 Other expenses 562 1,352 1,028 8,200 4,938 1,117 353,946 874,688 261,516 5,888,822 7,449,353 805,030 Net investment income/(deficit) 97,147 (165,473) 12,213 (1,046,381) (4,936,108) 208,829 1 Refer to note 3 of the unaudited supplementary information The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF OPERATIONS (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Latin America Equity Fund Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund Income Dividends (Note 2.3) 1,339,052 4,209,287 134,615 812,553 771,388 66,505 Bond interest (Note 2.3) 1,741,966 6,513,119 Deposit interest (Note 2.3) 735 4 Other income Expenses 1,339,052 4,209,287 1,877,316 812,553 771,388 6,579,628 MANULIFE GLOBAL FUND 40 Management fees (Note 3.1) 903,055 1,822,968 543,418 531,121 577,822 1,816,716 Administration fees (Note 3.3) 65,175 177,295 65,928 44,197 110,673 184,972 Depositary fees (Note 3.3) 52,391 146,685 21,755 32,095 37,313 35,543 Taxation (Note 4) 25,424 52,314 22,219 15,435 16,603 66,466 Printing and publishing expenses 2,435 4,543 2,119 1,594 1,712 7,437 Legal and other professional fees 7,367 21,177 7,600 10,408 4,952 22,187 Audit fees 5,065 22,011 4,314 3,140 6,199 17,522 Directors fees and expenses 1 830 1,671 741 487 538 2,587 Amortisation of formation expenses (Note 2.9) 899 Bank charges 55 1,441 99 695 284 243 Other expenses 4,419 98,194 5,052 725 2,428 4,337 1,066,216 2,348,299 674,144 639,897 758,524 2,158,010 Net investment income/(deficit) 272,836 1,860,988 1,203,172 172,656 12,864 4,421,618 1 Refer to note 3 of the unaudited supplementary information The Notes to the Financial Statements form an integral part of these financial statements.

41 MANULIFE GLOBAL FUND Income STATEMENT OF OPERATIONS (continued) for the year ended 30 June 2017 (expressed in United States Dollars) U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation- Protected Securities Fund Combined for the year ended 30 June 2017 Dividends (Note 2.3) 363,786 110,832 60,330,350 Bond interest (Note 2.3) 4,210,920 89,258 16,668,253 Deposit interest (Note 2.3) 3,126 Other income 190,343 Expenses 363,786 4,321,752 89,258 77,192,072 Management fees (Note 3.1) 554,567 930,032 97,923 50,286,379 Administration fees (Note 3.3) 41,521 105,989 46,331 3,672,724 Depositary fees (Note 3.3) 12,999 15,810 7,334 1,722,077 Taxation (Note 4) 16,548 37,265 3,886 4,859,101 Printing and publishing expenses 1,713 3,314 725 153,865 Legal and other professional fees 4,236 10,341 1,669 729,925 Audit fees 3,412 11,439 1,572 433,845 Directors fees and expenses 1 496 1,248 134 54,500 Amortisation of formation expenses (Note 2.9) 669 13,023 Bank charges 34 33,946 Other expenses 782 2,047 389 263,440 636,308 1,118,154 159,963 62,222,825 Net investment income/(deficit) (272,522) 3,203,598 (70,705) 14,969,247 1 Refer to note 3 of the unaudited supplementary information The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF OPERATIONS for the year ended 30 June 2016 (expressed in United States Dollars) American Growth Fund ASEAN Equity Fund Asia Total Return Fund Asia Value Dividend Equity Fund Asian Equity Fund Asian Small Cap Equity Fund Income Dividends (Note 2.3) 2,589,394 112,308 708,569 2,228,048 6,193,605 Bond interest (Note 2.3) 4,037,656 Deposit interest (Note 2.3) 1,893 304 679 Other income 231 231 342 231 231 Expenses 2,589,625 112,308 4,039,780 708,911 2,228,583 6,194,515 MANULIFE GLOBAL FUND 42 Management fees (Note 3.1) 3,435,659 40,178 680,677 282,840 1,487,966 4,767,248 Administration fees (Note 3.3) 203,486 16,988 107,094 40,079 132,081 249,812 Depositary fees (Note 3.3) 31,643 9,221 31,989 42,840 103,082 239,088 Taxation (Note 4) 109,212 429 13,037 7,972 57,104 27,877 Printing and publishing expenses 22,903 399 9,421 2,130 9,921 38,239 Legal and other professional fees 41,658 447 16,545 9,335 66,140 158,753 Audit fees 35,802 496 12,929 2,682 16,242 48,932 Directors fees and expenses 1 3,549 78 1,339 251 1,564 5,409 Amortisation of formation expenses (Note 2.9) 1,355 3 7,776 401 1,833 Bank charges 418 629 3,153 177 2,512 6,631 Other expenses 7,397 593 6,068 5,059 13,597 54,600 3,893,082 69,461 890,028 393,365 1,890,610 5,598,422 Net investment income/(deficit) (1,303,457) 42,847 3,149,752 315,546 337,973 596,093 1 Refer to note 3 of the unaudited supplementary information The Notes to the Financial Statements form an integral part of these financial statements.

43 MANULIFE GLOBAL FUND Income STATEMENT OF OPERATIONS (continued) for the year ended 30 June 2016 (expressed in United States Dollars) China Value Fund Dragon Growth Fund Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Equity Fund Dividends (Note 2.3) 19,462,215 4,406,330 4,118,161 3,508,785 514,253 2,055,809 Bond interest (Note 2.3) Deposit interest (Note 2.3) 3 230 3 131 Other income 240 231 231 1,667 881 3,059 Expenses 19,462,458 4,406,561 4,118,392 3,510,682 515,137 2,058,999 Management fees (Note 3.1) 12,919,357 2,395,052 1,471,654 1,471,202 336,185 877,067 Administration fees (Note 3.3) 658,277 141,178 234,810 117,207 62,647 68,082 Depositary fees (Note 3.3) 225,366 27,276 131,485 30,992 21,260 15,976 Taxation (Note 4) 419,256 79,795 48,293 46,881 9,378 33,017 Printing and publishing expenses 98,702 11,577 9,637 9,175 294 241 Legal and other professional fees 198,464 25,341 31,094 18,456 8,844 8,002 Audit fees 110,681 28,691 32,664 74,116 14,074 16,759 Directors fees and expenses 1 13,792 2,272 1,523 1,533 311 764 Amortisation of formation expenses (Note 2.9) 1,370 1,879 Bank charges 553 636 868 4,847 192 960 Other expenses 78,716 8,951 20,594 4,457 6,000 2,195 14,724,534 2,720,769 1,982,622 1,778,866 461,064 1,023,063 Net investment income/(deficit) 4,737,924 1,685,792 2,135,770 1,731,816 54,073 1,035,936 1 Refer to note 3 of the unaudited supplementary information The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF OPERATIONS (continued) for the year ended 30 June 2016 (expressed in United States Dollars) Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund India Equity Fund Japanese Growth Fund Income Dividends (Note 2.3) 421,711 584,234 269,224 4,851,932 2,012,125 863,569 Bond interest (Note 2.3) Deposit interest (Note 2.3) 30 19 Other income 261 105,734 231 238 319 1,949 Expenses 422,002 689,987 269,455 4,852,170 2,012,444 865,518 MANULIFE GLOBAL FUND 44 Management fees (Note 3.1) 273,082 563,643 158,571 5,389,231 3,139,627 600,706 Administration fees (Note 3.3) 53,143 54,545 38,572 193,025 143,853 79,447 Depositary fees (Note 3.3) 7,297 7,395 16,999 25,385 290,738 44,615 Taxation (Note 4) 7,760 16,343 2,040 153,234 1,361,367 19,693 Printing and publishing expenses 2,862 2,955 1,726 23,594 18,507 540 Legal and other professional fees 6,736 6,359 8,359 52,618 130,783 7,878 Audit fees 4,133 11,238 2,517 43,541 25,906 8,347 Directors fees and expenses 1 245 493 216 4,667 2,854 612 Amortisation of formation expenses (Note 2.9) 12,491 Bank charges 48 82 171 716 177 1,903 Other expenses 1,247 1,954 1,676 12,262 10,185 1,710 356,553 665,007 243,338 5,898,273 5,123,997 765,451 Net investment income/(deficit) 65,449 24,980 26,117 (1,046,103) (3,111,553) 100,067 1 Refer to note 3 of the unaudited supplementary information The Notes to the Financial Statements form an integral part of these financial statements.

45 MANULIFE GLOBAL FUND Income STATEMENT OF OPERATIONS (continued) for the year ended 30 June 2016 (expressed in United States Dollars) Latin America Equity Fund Russia Equity Fund Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund Dividends (Note 2.3) 1,055,841 4,071,582 159,471 851,350 943,355 83,683 Bond interest (Note 2.3) 2,042,163 6,927,872 Deposit interest (Note 2.3) 299 25 Other income 231 231 231 231 231 231 Expenses 1,056,072 4,071,813 2,202,164 851,581 943,586 7,011,811 Management fees (Note 3.1) 856,762 1,549,792 610,654 484,597 602,155 2,067,571 Administration fees (Note 3.3) 65,407 166,276 82,534 40,624 118,661 196,369 Depositary fees (Note 3.3) 48,537 184,790 22,077 35,054 34,895 34,304 Taxation (Note 4) 23,884 43,975 24,104 14,007 16,909 68,836 Printing and publishing expenses 4,550 9,747 9,638 14,536 18,449 14,795 Legal and other professional fees 11,412 28,642 11,738 11,398 7,900 29,934 Audit fees 10,480 28,532 7,783 6,439 4,773 23,532 Directors fees and expenses 1 778 1,370 794 432 498 2,405 Amortisation of formation expenses (Note 2.9) 2,777 813 Bank charges 593 234 1,264 65 49 323 Other expenses 5,524 43,171 6,336 1,557 4,419 5,654 1,027,927 2,056,529 779,699 608,709 808,708 2,444,536 Net investment income/(deficit) 28,145 2,015,284 1,422,465 242,872 134,878 4,567,275 1 Refer to note 3 of the unaudited supplementary information The Notes to the Financial Statements form an integral part of these financial statements.

STATEMENT OF OPERATIONS (continued) for the year ended 30 June 2016 (expressed in United States Dollars) U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation- Protected Securities Fund Combined for the year ended 30 June 2016 Income Dividends (Note 2.3) 323,093 203,555 62,592,202 Bond interest (Note 2.3) 4,515,863 96,124 17,619,678 Deposit interest (Note 2.3) 1 3,617 Other income 231 4,050 231 122,205 Expenses 323,325 4,723,468 96,355 80,337,702 MANULIFE GLOBAL FUND 46 Management fees (Note 3.1) 441,569 925,533 96,669 47,925,247 Administration fees (Note 3.3) 47,251 106,473 41,133 3,459,054 Depositary fees (Note 3.3) 16,552 16,913 4,499 1,700,268 Taxation (Note 4) 12,363 34,589 3,921 2,655,276 Printing and publishing expenses 2,887 1,178 932 339,535 Legal and other professional fees 5,906 16,109 2,187 921,038 Audit fees 4,594 16,090 1,537 593,510 Directors fees and expenses 1 400 1,182 118 49,449 Amortisation of formation expenses (Note 2.9) 1,369 803 32,870 Bank charges 27,201 Other expenses 1,350 3,342 1,061 309,675 534,241 1,122,212 152,057 58,013,123 Net investment income/(deficit) (210,916) 3,601,256 (55,702) 22,324,579 1 Refer to note 3 of the unaudited supplementary information The Notes to the Financial Statements form an integral part of these financial statements.

47 MANULIFE GLOBAL FUND Class A Class AA STATISTICAL INFORMATION for the year ended 30 June 2017 (expressed in United States Dollars) American Growth Fund ASEAN Equity Fund Class AA (HKD) Class HA Class HC Class HI Class I Class I3 Class I 2017 Total Net Assets 242,628,872 13,491,156 141,201 16,299,755 48,724,325 6,616,731 Number of Shares in Issue 6,733,473 6,623,734 85,626 9,097,612 39,421,725 5,039,812 Net Asset Value per share 36.0332 2.0368 12.8730* 1.7917 1.2360 1.3129 2016 Total Net Assets 213,265,950 10,971,226 39,815 8,450,967 1,445,589 6,143,124 Number of Shares in Issue 7,316,629 6,642,109 29,580 5,856,714 1,467,845 5,000,000 Net Asset Value per share 29.1481 1.6518 10.4434* 1.4430 0.9848 1.2286 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 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements.

STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Class AA Class AA (HKD) Asia Total Return Fund Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I Class I3 Class J 2017 Total Net Assets 628,388 48,262 2,482,496 15,313,279 29,691,559 565,404 47,861,096 Number of Shares in Issue 602,621 35,909 1,942,840 16,219,117 26,571,062 501,435 47,831,836 Net Asset Value per share 1.0428 10.4919* 9.9746* 0.9442 1.1174 1.1276 1.0006 2016 Total Net Assets 74,172 6,167 9,002 11,230,076 32,802,908 589,983 48,819,844 Number of Shares in Issue 73,527 4,762 6,967 11,728,405 29,501,724 547,552 49,167,079 Net Asset Value per share 1.0088 10.0484* 10.0255* 0.9575 1.1119 1.0775 0.9929 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 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 48

49 MANULIFE GLOBAL FUND STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (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 2017 Total Net Assets 15,644,338 1,114,412 124,206,718 4,661,305 979,109 1,931,353 Number of Shares in Issue 8,657,507 1,076,592 36,555,649 4,258,761 773,473 2,160,373 Net Asset Value per share 1.8070 1.0351 3.3977 1.0945 1.2659 0.8940 2016 Total Net Assets 14,409,367 745,836 107,679,274 3,482,689 5,905,678 Number of Shares in Issue 9,556,625 847,012 37,563,406 3,778,917 5,559,669 Net Asset Value per share 1.5078 0.8805 2.8666 0.9216 1.0622 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 The Notes to the Financial Statements form an integral part of these financial statements.

STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Class AA Asian Small Cap Equity Fund Class AA (HKD) Class HA Class HC Class HI Class I 2017 Total Net Assets 144,194,040 371,334 142,706,147 Number of Shares in Issue 67,476,529 331,020 95,338,105 Net Asset Value per share 2.1370 8.7570* 1.4968 2016 Total Net Assets 145,620,359 498,555 161,370,545 Number of Shares in Issue 77,523,066 505,595 122,771,419 Net Asset Value per share 1.8784 7.6509* 1.3144 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 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 50

51 MANULIFE GLOBAL FUND STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) China Value Fund Class A Class AA Class HA Class HC Class HI 2017 Total Net Assets 836,204,290 17,935,180 Number of Shares in Issue 93,898,954 6,429,623 Net Asset Value per share 8.9054 2.7895 2016 Total Net Assets 748,163,198 17,064,876 Number of Shares in Issue 104,581,391 7,614,528 Net Asset Value per share 7.1539 2.2411 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 The Notes to the Financial Statements form an integral part of these financial statements.

Class A STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Dragon Growth Fund Class AA Emerging Eastern Europe Fund European Growth Fund Class AA (HKD) Class A Class AA Class A Class AA Class I Class I3 2017 Total Net Assets 182,047,552 8,570,077 39,497,584 101,711,832 5,847,268 99,009,663 3,273,927 898,519 3,282,179 Number of Shares in Issue 81,875,216 7,152,409 28,380,968 28,513,414 3,769,710 8,992,623 4,126,106 895,809 3,223,119 Net Asset Value per share 2.2235 1.1982 10.8639* 3.5672 1.5511 11.0101 0.7935 1.0030 1.0183 2016 Total Net Assets 152,182,167 39,597,630 94,429,374 4,022,179 94,028,692 4,379,818 3,124,914 1,002,089 Number of Shares in Issue 87,803,222 36,578,532 31,127,597 3,048,860 10,019,570 6,432,922 3,572,835 1,181,018 Net Asset Value per share 1.7332 8.3993* 3.0336 1.3192 9.3845 0.6808 0.8746 0.8485 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 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 52

53 MANULIFE GLOBAL FUND STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Global Contrarian Fund Class AA Class HA Class HC Class HI Class I2 Class I3 Class S 2017 Total Net Assets 17,618,964 63,198 7,646 Number of Shares in Issue 16,883,713 51,937 9,372 Net Asset Value per share 1.0435 1.2168 1.1229** 2016 Total Net Assets 18,115,898 53,986 307,376 834 Number of Shares in Issue 20,194,396 51,342 312,981 1,196 Net Asset Value per share 0.8971 1.0515 0.9821 0.9402** 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** ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements.

Global Equity Fund Class A Class AA Class AA STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Global Property Fund Global Resources Fund Greater China Opportunities Fund Class AA (HKD) Class I3 Class AA Class I3 Class AA Class I Class I3 2017 Total Net Assets 127,125,578 3,665,465 15,229,163 10,332 176,659 38,367,826 141,067 3,655,034 13,633,437 Number of Shares in Issue 24,398,369 3,068,017 14,649,559 8,312 169,265 49,726,212 122,995 3,209,630 5,577,119 Net Asset Value per share 5.2104 1.1947 1.0396 9.7036* 1.0437 0.7716 1.1469 1.1388 2.4445 2016 Total Net Assets 111,218,718 3,004,001 15,614,431 40,697 172,505 41,613,625 193,834 1,679,048 10,663,973 Number of Shares in Issue 24,770,314 2,920,385 15,040,567 32,347 166,400 52,865,876 166,400 1,855,831 5,520,136 Net Asset Value per share 4.4900 1.0286 1.0382 9.7618* 1.0367 0.7872 1.1649 0.9047 1.9318 2015 Total Net Assets 13,117,249 4,912,996 16,752,887 29,200 33,715,806 2,817,049 15,204,915 686,073 Number of Shares in Issue 2,728,294 4,450,975 16,789,166 24,155 43,700,128 2,496,826 6,351,712 700,060 Net Asset Value per share 4.8079 1.1038 0.9978 9.3715* 0.7715 1.1283 2.3938 0.9800 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 54

55 MANULIFE GLOBAL FUND STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Healthcare Fund India Equity Fund Class AA Class I3 Class AA Class I2 2017 Total Net Assets 299,553,506 240,367,850 3,464,093 Number of Shares in Issue 151,932,455 143,438,573 2,887,362 Net Asset Value per share 1.9716 1.6758 1.1997 2016 Total Net Assets 313,145,641 176,931,013 10,560,722 Number of Shares in Issue 171,697,123 130,014,724 10,931,666 Net Asset Value per share 1.8238 1.3609 0.9661 2015 Total Net Assets 294,997,637 712,609 186,124,829 11,708,129 Number of Shares in Issue 147,944,325 710,936 133,163,881 11,893,449 Net Asset Value per share 1.9940 1.0024 1.3977 0.9844 The Notes to the Financial Statements form an integral part of these financial statements.

STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (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 2017 Total Net Assets 42,509,229 6,723,568 14,415,093 52,377,808 94,188,555 Number of Shares in Issue 11,051,250 6,874,069 12,616,139 60,350,090 189,486,238 Net Asset Value per share 3.8466 0.9781 1.1426 0.8679 0.4971 2016 Total Net Assets 38,154,132 2,195,211 911,329 52,040,783 91,495,101 Number of Shares in Issue 12,054,744 2,697,596 982,227 65,349,108 208,496,411 Net Asset Value per share 3.1651 0.8138 0.9278 0.7964 0.4388 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 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 56

57 MANULIFE GLOBAL FUND STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Strategic Income Fund Class AA Class HA Class HC Class HI Class I2 Class S Hedged 2017 Total Net Assets 29,841,139 1,828,179 10,187,514 Number of Shares in Issue 28,144,976 1,800,904 15,549,262 Net Asset Value per share 1.0603 1.0151 0.9018** 2016 Total Net Assets 31,104,710 1,473,018 14,991,503 Number of Shares in Issue 29,016,502 1,446,748 21,954,109 Net Asset Value per share 1.0720 1.0182 0.9203** 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** ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements.

STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Taiwan Equity Fund Class AA Turkey Equity Fund Class AA 2017 Total Net Assets 30,456,201 35,689,922 Number of Shares in Issue 15,177,004 47,786,551 Net Asset Value per share 2.0067 0.7469 2016 Total Net Assets 28,851,474 33,356,651 Number of Shares in Issue 17,414,956 48,722,318 Net Asset Value per share 1.6567 0.6846 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 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 58

59 MANULIFE GLOBAL FUND Class AA STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Class AA (HKD) U.S. Bond Fund Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I Class I3 2017 Total Net Assets 122,284,445 26,426 245,052 405,864 15,538,090 6,124,589 Number of Shares in Issue 101,725,749 19,805 194,069 414,431 15,972,650 5,793,771 Net Asset Value per share 1.2021 10.4160* 9.8571* 0.9793 0.9728 1.0571 2016 Total Net Assets 133,616,157 56,779 190,470 477,637 56,042,208 5,110,561 Number of Shares in Issue 110,439,037 43,239 149,629 483,312 54,010,360 4,928,955 Net Asset Value per share 1.2099 10.1886* 9.8767* 0.9883 1.0376 1.0368 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 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements.

STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) U.S. Small Cap Equity Fund Class AA Class HA Class HC Class HI Class I3 2017 Total Net Assets 34,204,954 Number of Shares in Issue 23,414,479 Net Asset Value per share 1.4608 2016 Total Net Assets 25,158,388 Number of Shares in Issue 22,041,489 Net Asset Value per share 1.1414 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 The Notes to the Financial Statements form an integral part of these financial statements. MANULIFE GLOBAL FUND 60

61 MANULIFE GLOBAL FUND STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) U.S. Treasury U.S. Special Opportunities Fund Inflation- Protected Securities Fund Class AA Class AA Inc Class I Class I3 Class T Class AA Class AA Inc Class I3 2017 Total Net Assets 57,310,508 10,929,244 381,061 7,531,271 393,001 412,399 Number of Shares in Issue 63,490,226 12,006,768 368,386 5,875,471 387,426 400,680 Net Asset Value per share 0.9027 0.9103 1.0344 1.2818 1.0144 1.0292 2016 Total Net Assets 59,720,093 9,607,624 892,138 209,843 535,594 7,722,415 162,782 433,711 Number of Shares in Issue 69,899,251 11,151,779 1,001,710 192,035 545,805 5,891,009 156,914 416,000 Net Asset Value per share 0.8544 0.8615 0.8906 1.0927 0.9813 1.3109 1.0374 1.0426 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 The Notes to the Financial Statements form an integral part of these financial statements.

Class A STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Class AA American Growth Fund ASEAN Equity Fund Class AA (HKD) Class HA Class HC Class HI Class I Class I3 Class I 2017 Highest Subscription Price 36.2077 2.0467 12.8044* 1.7818 1.2286 1.2037 Lowest Redemption Price 29.0832 1.6518 11.0754* 1.4997 1.0580 2016 Highest Subscription Price 31.8278 1.8063 11.3552* 1.5574 1.0629 1.0000 Lowest Redemption Price 25.4886 1.4757 10.2978* 1.3045 1.2914 1.3239 1.2966 0.9430 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 MANULIFE GLOBAL FUND 62 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 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements.

63 MANULIFE GLOBAL FUND Class AA Class AA (HKD) STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Class AA (HKD) Inc Asia Total Return Fund Class AA Inc*** Class HA Class HC Class HI Class I Class 13 Class J 2017 Highest Subscription Price 1.0453 10.4854* 10.1242* 0.9716 1.1325 1.1014 1.0044 Lowest Redemption Price 0.9906 10.0780* 9.7298* 0.9191 1.0613 1.0776 0.9675 2016 Highest Subscription Price 0.9850 10.0000* 9.9618* 0.9568 0.9327 0.9323 0.9330 1.1122 1.0766 0.9888 Lowest Redemption Price 0.9562 9.8882* 0.8973 0.9041 0.9036 0.9046 1.0396 0.9382 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 * 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.

STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Asia Value Dividend Equity Fund Asian Equity Fund Asian Opportunities Fund a Class AA Class AA Inc Class A Class AA Class I Class I3 Class I 2017 Highest Subscription Price 1.8150 1.0326 3.4233 1.1028 1.1696 0.8661 Lowest Redemption Price 1.4863 0.8876 2.7490 0.8956 1.0448 0.7961 2016 Highest Subscription Price 1.8544 1.0816 3.4512 1.1074 1.2669 0.8415 Lowest Redemption Price 1.3123 0.8124 2.4544 0.8254 0.9945 0.7326 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 MANULIFE GLOBAL FUND 64 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 a Liquidated on 16 September 2011 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 2017 (expressed in United States Dollars) Class AA Asian Small Cap Equity Fund Class AA (HKD) Class HA Class HC Class HI Class I Class I3 2017 Highest Subscription Price 2.1655 8.8642* 1.5028 Lowest Redemption Price 1.8097 7.7275* 1.2605 2016 Highest Subscription Price 2.4267 9.8163* 1.1694 1.1770 1.7012 Lowest Redemption Price 1.6820 7.1683* 1.0629 1.0554 1.0712 1.1740 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 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements.

STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (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)*** 2017 Highest Subscription Price 9.0195 2.8077 2.2454 1.2101 10.9611* Lowest Redemption Price 7.0703 2.2341 1.7083 1.1939 8.3798* 2016 Highest Subscription Price 9.8313 3.0792 1.2684 2.2818 11.0415* Lowest Redemption Price 6.4645 2.0516 1.0536 1.0475 1.0098 1.5090 8.5777* 2015 Highest Subscription Price 10.7351 3.3637 1.2649 1.3084 2.4947 1.1879 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* MANULIFE GLOBAL FUND 66 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* * 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.

67 MANULIFE GLOBAL FUND Emerging Eastern Europe Fund STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Emerging Markets Infrastructure Fund b European Growth Fund Class A Class AA Class AA Class A Class AA Class I Class I3 Class J 2017 Highest Subscription Price 3.6288 1.5784 11.1503 0.8035 1.0034 0.9219 Lowest Redemption Price 3.0124 1.3100 9.1327 0.6625 0.9018 0.8925 2016 Highest Subscription Price 3.3523 1.4401 11.3033 0.8175 1.0436 0.9271 Lowest Redemption Price 2.3575 1.0353 8.5560 0.6456 0.8356 0.7996 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 b Liquidated on 28 June 2013 The Notes to the Financial Statements form an integral part of these financial statements.

Class AA STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Global Contrarian Fund Global Equity Fund Class AA (HKD) Class HA Class HC Class HI Class I Class I2 Class I3 Class J Class S Class A Class AA 2017 Highest Subscription Price 1.0512 10.0000* 1.0540 0.9903 1.1366** 5.2487 1.2036 Lowest Redemption Price 0.8931 10.2161* 1.0333 0.9941** 4.4705 1.0415 2016 Highest Subscription Price 0.9712 1.0056 1.0703 0.9918 1.0032** 4.8915 1.1266 Lowest Redemption Price 0.8140 0.9319 0.9225 0.9416 0.9757 4.0457 0.9438 2015 Highest Subscription Price 0.9892 1.0371 1.1633 1.0134 1.0571** 4.9464 1.1341 Lowest Redemption Price 0.8766 1.1674 1.0387** 4.2005 1.0078 2014 Highest Subscription Price 0.9797 1.1292 0.9574** 4.6753 1.0730 Lowest Redemption Price 0.8076 1.0702 0.9624** 3.7821 0.9092 2013 Highest Subscription Price 0.9253 1.0000 1.0000 1.0000 0.6788 1.0976 1.0023** 3.9935 0.9205 Lowest Redemption Price 0.7772 0.6786 1.0500 3.0982 0.7439 2012 Highest Subscription Price 1.1355 0.9504 1.1243 3.4180 0.7870 Lowest Redemption Price 0.7179 0.7430 1.0105 2.6724 0.6851 MANULIFE GLOBAL FUND 68 2011 Highest Subscription Price 1.2343 1.0387 3.5054 0.7997 Lowest Redemption Price 0.8786 0.9522 2.5265 2.6765 0.7243 2010 Highest Subscription Price 0.9943 3.2066 0.7446 Lowest Redemption Price 0.6307 2.0095 2.4670 0.5793 2009 Highest Subscription Price 0.9995 1.3157 3.9244 0.8792 Lowest Redemption Price 0.3902 1.9458 0.5349 2008 Highest Subscription Price 1.0000 4.5926 1.0000 Lowest Redemption Price 3.7725 * Expressed in Hong Kong Dollars ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements.

69 MANULIFE GLOBAL FUND Class AA STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund Class AA (HKD) Class I3 Class J Class AA Class I3 Class AA Class I Class I3 Class AA Class I3 2017 Highest Subscription Price 1.0990 9.5148* 0.9803 0.8646 1.1367 1.1527 2.1618 2.0108 Lowest Redemption Price 0.9602 9.3375* 0.9697 0.7523 1.1944 0.8916 1.9962 1.6851 2016 Highest Subscription Price 1.0413 9.4792* 1.0000 0.8007 1.0000 1.1283 2.0778 0.8662 2.0681 0.9451 Lowest Redemption Price 0.8686 0.5265 0.7765 1.8609 0.7250 1.6474 0.8908 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 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements.

STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) India Equity Fund Japanese Growth Fund Latin America Equity Fund Russia Equity Fund Class AA Class I2 Class A Class AA Class I3 Class AA Class AA 2017 Highest Subscription Price 1.7000 1.2089 3.8868 0.9883 1.0735 0.9425 0.5632 Lowest Redemption Price 1.2830 1.0237 3.1541 0.8213 0.9990 0.7282 0.4354 2016 Highest Subscription Price 1.4636 1.0317 3.6101 0.9282 1.0047 0.8695 0.4580 Lowest Redemption Price 1.1237 0.8628 2.8139 0.7654 0.8845 0.5958 0.3198 2015 Highest Subscription Price 1.5498 1.0623 3.6082 0.9278 1.0000 1.2570 0.6287 Lowest Redemption Price 1.2369 0.9471 2.9446 0.7655 1.0170 0.8281 0.3105 2014 Highest Subscription Price 1.2690 3.3514 0.8582 1.1824 0.6954 Lowest Redemption Price 0.7660 2.9293 0.7509 0.9448 0.4878 2013 Highest Subscription Price 1.0965 3.4261 0.8797 1.2951 0.6889 Lowest Redemption Price 0.8849 2.3753 0.6307 0.9978 0.5659 2012 Highest Subscription Price 1.2382 3.1068 0.7947 1.4237 0.8656 Lowest Redemption Price 0.8296 2.3619 0.6284 0.9832 0.5045 MANULIFE GLOBAL FUND 70 2011 Highest Subscription Price 1.3613 3.2136 0.8296 1.4835 0.9279 Lowest Redemption Price 1.0809 2.5651 0.6671 1.1659 0.5951 2010 Highest Subscription Price 1.1625 2.9737 0.7751 1.3508 0.7650 Lowest Redemption Price 0.8021 2.4905 0.7045 0.8590 0.3757 2009 Highest Subscription Price 1.0579 3.5288 0.8564 1.4996 1.0869 Lowest Redemption Price 0.5086 1.8959 0.6257 0.5237 0.2323 2008 Highest Subscription Price 1.7469 4.3493 1.0000 1.6539 1.1536 Lowest Redemption Price 0.9582 3.1821 1.0074 1.0683 0.9408 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 2017 (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 2017 Highest Subscription Price 1.0870 0.9958 0.9294** Lowest Redemption Price 1.0284 0.9856 0.8926** 2016 Highest Subscription Price 1.0861 0.9506 0.9503 0.9509 0.9892 0.9290** Lowest Redemption Price 1.0306 0.9196 0.9190 0.9200 0.9823 0.8957** 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 ** Expressed in Singapore Dollars The Notes to the Financial Statements form an integral part of these financial statements.

STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Taiwan Equity Fund Class AA Turkey Equity Fund Class AA 2017 Highest Subscription Price 2.0342 0.7459 Lowest Redemption Price 1.6386 0.5032 2016 Highest Subscription Price 1.7276 0.8149 Lowest Redemption Price 1.3478 0.5828 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 MANULIFE GLOBAL FUND 72 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 The Notes to the Financial Statements form an integral part of these financial statements.

73 MANULIFE GLOBAL FUND Class AA STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) Class AA (HKD) U.S. Bond Fund Class AA (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I Class I3 2017 Highest Subscription Price 1.2297 10.4156* 9.9615* 0.9972 0.9602 1.0548 Lowest Redemption Price 1.1584 10.0159* 9.6067* 0.9633 0.9750 1.0150 2016 Highest Subscription Price 1.2155 10.1436* 9.8303* 0.9867 0.9434 0.9431 0.9437 1.0222 1.0368 Lowest Redemption Price 1.1550 9.8821* 0.9600 0.9212 0.9207 0.9217 0.9928 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 * Expressed in Hong Kong Dollars The Notes to the Financial Statements form an integral part of these financial statements.

STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) U.S. Small Cap Equity Fund Class AA Class HA Class HC Class HI Class I Class I3 2017 Highest Subscription Price 1.4734 Lowest Redemption Price 1.1414 2016 Highest Subscription Price 1.1994 0.9919 Lowest Redemption Price 0.9478 1.0041 0.9940 1.0191 0.8725 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 MANULIFE GLOBAL FUND 74 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 The Notes to the Financial Statements form an integral part of these financial statements.

75 MANULIFE GLOBAL FUND Class AA Class AA (HKD) Class AA (HKD) Inc STATISTICAL INFORMATION (continued) for the year ended 30 June 2017 (expressed in United States Dollars) U.S. Special Opportunities Fund Class AA Inc Class I Class I3 Class J Class T Class AA U.S. Treasury Inflation- Protected Securities Fund U.S.Value Fund C Class AA Inc Class I3 Class J 2017 Highest Subscription Price 0.9092 9.5989* 10.0328* 0.9125 0.9266 1.1506 1.0424 1.3271 1.0349 1.0544 Lowest Redemption Price 0.8443 9.5059* 9.9666* 0.8812 0.8888 1.1506 0.9889 1.2603 1.0107 1.0192 2016 Highest Subscription Price 0.9184 0.9097 0.9458 1.0940 1.0478 1.3099 1.0213 1.0000 Lowest Redemption Price 0.7638 0.7913 0.8368 0.9102 1.2446 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 * Expressed in Hong Kong Dollars C Liquidated on 24 October 2012 The Notes to the Financial Statements form an integral part of these financial statements.

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) as at 30 June 2017 and 30 June 2016 American Growth Fund 30 June 2017 30 June 2016 ASEAN Equity Fund Asia Total Return Fund Asia Value Dividend Equity Fund 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% 0.00% 2.11% 6.65% 3.59% 0.00% 0.00% Communications 16.76% 15.73% 7.73% 13.79% 1.52% 5.34% 3.09% 1.15% Consumer, cyclical 11.95% 13.40% 9.71% 5.02% 2.92% 4.15% 10.23% 15.88% Consumer, Non-cyclical 5.00% 5.02% 7.11% 11.51% 3.55% 4.88% 1.13% 2.89% Education 0.00% 0.00% 0.00% 0.00% 0.76% 0.00% 0.00% 0.00% Energy 3.52% 6.66% 3.79% 2.19% 8.38% 6.10% 3.37% 8.93% Financials 25.38% 24.66% 41.99% 28.67% 33.53% 28.36% 30.75% 33.23% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 13.04% 9.57% 0.94% 2.19% 0.00% 0.00% 0.00% 0.00% Industrials 9.64% 8.57% 25.78% 17.60% 7.95% 6.69% 20.69% 21.55% Real Estate 1.77% 1.91% 0.00% 7.13% 0.00% 0.00% 3.28% 4.35% Supranationals, governments and local public authorities 0.00% 0.00% 0.00% 0.00% 25.52% 31.05% 0.00% 0.00% Technology 9.24% 11.55% 0.00% 0.00% 2.62% 2.13% 15.38% 4.44% Utilities 0.00% 0.00% 0.00% 6.30% 1.47% 2.26% 5.44% 6.48% Total Securities 96.30% 97.07% 97.05% 96.51% 94.87% 94.55% 93.36% 98.90% 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 MANULIFE GLOBAL FUND 76

77 MANULIFE GLOBAL FUND INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 30 June 2017 Asian Equity Fund 30 June 2016 30 June 2017 Asian Small Cap Equity Fund 30 June 2016 30 June 2017 China Value Fund 30 June 2016 Dragon Growth Fund Asset backed and mortgage backed securities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Basic materials 2.65% 1.90% 8.38% 9.87% 1.19% 1.09% 2.33% 1.76% Communications 12.33% 14.11% 4.76% 5.99% 20.80% 13.95% 30.69% 25.79% Consumer, cyclical 20.86% 15.80% 16.07% 23.10% 8.48% 6.82% 9.95% 8.67% Consumer, Non-cyclical 5.31% 5.15% 2.25% 3.45% 4.02% 1.55% 1.93% 2.93% Education 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Energy 2.75% 0.00% 2.62% 0.77% 3.92% 5.88% 7.17% 6.73% Financials 23.64% 9.70% 13.57% 6.77% 29.84% 30.83% 28.21% 27.96% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 0.95% 12.34% 7.92% 5.22% 2.71% 3.72% 2.79% 3.25% Industrials 12.30% 19.22% 24.77% 26.82% 14.29% 13.27% 11.09% 15.63% Real Estate 0.00% 0.00% 0.00% 3.26% 0.00% 0.38% 1.21% 2.33% Supranationals, governments and local public authorities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Technology 16.40% 17.50% 15.45% 11.42% 11.25% 9.59% 1.54% 2.05% Utilities 1.41% 2.65% 0.54% 3.94% 1.76% 5.50% 2.34% 2.09% Total Securities 98.60% 98.37% 96.33% 100.61% 98.26% 92.58% 99.25% 99.19% 30 June 2017 30 June 2016

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 Emerging Eastern Europe Fund 30 June 2017 30 June 2016 European Growth Fund Global Contrarian Fund Global Equity Fund Asset backed and mortgage backed securities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Basic materials 7.70% 8.97% 7.43% 6.53% 1.05% 0.89% 1.01% 0.96% Communications 3.21% 1.81% 7.80% 5.67% 7.99% 7.97% 7.96% 8.13% Consumer, cyclical 11.90% 7.28% 7.36% 5.73% 6.94% 8.12% 7.05% 8.07% Consumer, Non-cyclical 6.80% 11.94% 12.58% 17.24% 15.52% 20.16% 15.37% 20.40% Education 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Energy 27.71% 24.33% 12.51% 7.19% 4.95% 2.54% 4.60% 2.54% Financials 31.77% 32.61% 26.02% 16.03% 26.26% 20.88% 25.77% 20.99% Funds 2.04% 1.91% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 0.00% 0.00% 12.44% 19.59% 9.32% 12.98% 9.34% 12.90% Industrials 3.91% 5.22% 8.03% 14.40% 16.01% 14.87% 15.85% 14.89% Real Estate 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 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 2.20% 1.94% 3.64% 4.41% 11.52% 9.66% 11.70% 9.78% Utilities 1.66% 2.08% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Total Securities 98.90% 98.09% 97.81% 96.79% 99.56% 98.07% 98.65% 98.66% 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 MANULIFE GLOBAL FUND 78

79 MANULIFE GLOBAL FUND INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 Global Property Fund 30 June 2017 30 June 2016 Global Resources Fund 30 June 2017 30 June 2016 Greater China Opportunities Fund 30 June 2017 30 June 2016 30 June 2017 Healthcare Fund 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% 60.04% 58.17% 2.38% 2.35% 0.00% 0.00% Communications 0.00% 0.00% 0.00% 0.00% 24.74% 20.44% 0.00% 0.00% Consumer, cyclical 2.12% 2.86% 0.00% 0.00% 10.95% 8.46% 1.49% 2.47% Consumer, Non-cyclical 0.00% 0.00% 0.00% 0.00% 1.42% 1.99% 0.00% 0.00% Education 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Energy 0.00% 0.00% 36.93% 36.71% 6.53% 4.04% 0.00% 0.00% Financials 20.98% 17.02% 0.00% 0.00% 22.55% 25.81% 0.00% 0.00% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 0.00% 0.00% 0.00% 0.00% 2.91% 5.43% 98.45% 97.03% Industrials 0.00% 0.00% 2.28% 0.00% 11.51% 14.79% 0.00% 0.00% Real Estate 74.56% 75.93% 0.00% 0.00% 0.84% 1.94% 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 0.00% 0.00% 0.00% 0.00% 12.06% 11.88% 0.00% 0.00% Utilities 0.00% 0.00% 0.00% 0.00% 1.34% 0.81% 0.00% 0.00% Total Securities 97.66% 95.81% 99.25% 94.88% 97.23% 97.94% 99.94% 99.50% 30 June 2016

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 30 June 2017 India Equity Fund 30 June 2016 Japanese Growth Fund Latin America Equity Fund Russia Equity Fund Asset backed and mortgage backed securities 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Basic materials 5.87% 1.40% 2.08% 7.60% 5.18% 4.79% 17.16% 20.39% Communications 2.06% 2.79% 10.88% 14.19% 1.23% 3.08% 8.08% 7.16% Consumer, cyclical 16.76% 14.43% 21.49% 11.20% 12.68% 13.80% 6.76% 4.30% Consumer, Non-cyclical 11.62% 11.00% 7.55% 10.90% 12.59% 11.56% 9.27% 11.32% Education 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Energy 4.82% 8.11% 0.00% 0.12% 2.14% 0.00% 41.46% 34.67% Financials 30.54% 25.77% 20.42% 22.77% 38.29% 37.37% 10.85% 16.11% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 2.96% 8.33% 5.04% 6.60% 1.61% 1.06% 0.00% 0.00% Industrials 13.97% 9.54% 23.63% 18.72% 13.23% 18.43% 0.00% 0.00% Real Estate 0.00% 0.00% 0.00% 0.00% 3.03% 3.49% 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 6.63% 13.57% 2.76% 4.10% 2.08% 2.73% 0.00% 0.00% Utilities 0.00% 2.77% 0.00% 1.42% 7.24% 3.49% 4.25% 4.52% Total Securities 95.23% 97.71% 93.85% 97.62% 99.30% 99.80% 97.83% 98.47% 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 MANULIFE GLOBAL FUND 80

81 MANULIFE GLOBAL FUND INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 30 June 2017 Strategic Income Fund 30 June 2016 30 June 2017 Taiwan Equity Fund 30 June 2016 30 June 2017 Turkey Equity Fund 30 June 2016 30 June 2017 U.S. Bond Fund Asset backed and mortgage backed securities 11.28% 11.68% 0.00% 0.00% 0.00% 0.00% 32.93% 34.26% Basic materials 0.05% 0.70% 6.13% 6.51% 12.89% 0.00% 1.20% 0.75% Communications 5.31% 5.29% 1.01% 4.47% 0.00% 3.40% 4.26% 3.79% Consumer, cyclical 5.90% 5.86% 9.35% 7.93% 13.40% 12.11% 7.12% 5.87% Consumer, Non-cyclical 5.75% 4.20% 2.06% 1.81% 8.84% 10.74% 1.84% 2.60% Education 0.00% 1.05% 0.00% 0.00% 0.00% 0.00% 0.07% 0.00% Energy 2.86% 0.79% 0.00% 1.98% 6.72% 6.65% 3.55% 2.20% Financials 15.89% 16.10% 13.78% 5.62% 36.18% 36.23% 18.23% 16.60% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 7.63% 10.73% 7.95% 9.45% 0.00% 0.00% 4.01% 2.90% Industrials 7.03% 4.66% 34.88% 35.58% 18.11% 20.71% 3.19% 2.76% Real Estate 0.00% 0.00% 0.00% 0.00% 3.86% 7.69% 0.19% 0.23% Supranationals, governments and local public authorities 24.81% 31.36% 0.00% 0.00% 0.00% 0.00% 13.07% 21.08% Technology 5.76% 1.98% 24.71% 25.71% 0.00% 0.00% 6.07% 3.06% Utilities 3.03% 3.00% 0.00% 0.00% 0.00% 0.00% 2.03% 1.25% Total Securities 95.30% 97.40% 99.87% 99.06% 100.00% 97.53% 97.76% 97.35% 30 June 2016

INDUSTRIAL COMPOSITION OF PORTFOLIOS AS A PERCENTAGE OF NET ASSET VALUE (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 U.S. Small Cap Equity Fund U.S. Special Opportunities Fund U.S. Treasury Inflation- Protected Securities Fund Asset backed and mortgage backed securities 0.00% 0.00% 0.00% 0.00% 0.11% 0.73% Basic materials 4.55% 2.26% 5.48% 5.34% 0.00% 0.00% Communications 1.19% 1.58% 18.03% 16.75% 0.00% 0.00% Consumer, cyclical 16.34% 16.88% 9.27% 14.46% 0.00% 0.00% Consumer, Non-cyclical 6.80% 6.35% 2.50% 5.29% 0.00% 0.00% Education 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Energy 1.81% 1.36% 10.00% 6.86% 0.00% 0.00% Financials 16.53% 10.95% 16.42% 16.14% 0.00% 0.00% Funds 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Healthcare 13.84% 15.48% 11.38% 8.71% 0.00% 0.00% Industrials 13.99% 13.03% 9.24% 9.15% 0.00% 0.00% Real Estate 6.03% 11.72% 0.00% 0.49% 0.00% 0.00% Supranationals, governments and local public authorities 0.00% 0.00% 0.00% 0.00% 99.40% 97.31% Technology 13.77% 13.53% 8.00% 5.88% 0.00% 0.00% Utilities 1.14% 2.73% 4.31% 3.79% 0.00% 0.00% Total Securities 95.99% 95.87% 94.63% 92.86% 99.51% 98.04% 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 MANULIFE GLOBAL FUND 82

83 MANULIFE GLOBAL FUND STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) as at 30 June 2017 and 30 June 2016 American Growth Fund ASEAN Equity Fund Asia Total Return Fund Asia Value Dividend Equity Fund 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 USD USD USD USD USD USD USD USD Bonds 66,164,760 60,129,518 Bonds convertibles 818,244 Equities 309,399,122 227,322,720 6,421,441 5,928,644 15,643,107 14,979,809 Funds Mortgage and Asset Backed Securities Rights Supranationals, Governments and Local Public Authorities, Debt Instruments 24,650,422 28,303,827 Warrants Equity 2,596 8,714 3,188 8,714 Total Portfolio of Investments 309,399,122 227,322,720 6,421,441 5,928,644 91,633,426 88,433,345 15,645,703 14,988,523

STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 Asian Equity Fund Asian Small Cap Equity Fund China Value Fund Dragon Growth Fund 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 USD USD USD USD USD USD USD USD Bonds Bonds convertibles Equities 129,933,069 115,154,602 276,741,349 309,367,410 839,312,619 708,459,206 228,392,598 190,219,162 Funds Mortgage and Asset Backed Securities Rights Supranationals, Governments and Local Public Authorities, Debt Instruments Warrants Equity 3,188 8,714 Total Portfolio of Investments 129,933,069 115,154,602 276,741,349 309,367,410 839,312,619 708,459,206 228,392,598 190,219,162 MANULIFE GLOBAL FUND 84

85 MANULIFE GLOBAL FUND STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 Emerging Eastern Europe Fund European Growth Fund Global Contrarian Fund Global Equity Fund 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 USD USD USD USD USD USD USD USD Bonds Bonds convertibles Equities 104,185,133 96,571,934 104,024,005 99,176,286 17,611,801 18,121,579 129,025,923 112,693,055 Funds 2,195,580 Mortgage and Asset Backed Securities Rights 109,610 65,343 Supranationals, Governments and Local Public Authorities, Debt Instruments Warrants Equity 3,188 8,714 Total Portfolio of Investments 106,380,713 96,571,934 104,133,615 99,241,629 17,611,801 18,121,579 129,025,923 112,693,055

STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 USD USD USD USD USD USD USD USD Bonds Bonds convertibles Equities 15,055,926 15,164,652 38,221,002 39,666,200 16,810,324 12,089,289 299,365,448 311,581,887 Funds Mortgage and Asset Backed Securities Rights Supranationals, Governments and Local Public Authorities, Debt Instruments Warrants Equity 3,188 8,714 Total Portfolio of Investments 15,055,926 15,164,652 38,221,002 39,666,200 16,810,324 12,089,289 299,365,448 311,581,887 MANULIFE GLOBAL FUND 86

87 MANULIFE GLOBAL FUND STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 India Equity Fund Japanese Growth Fund Latin America Equity Fund Russia Equity Fund 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 USD USD USD USD USD USD USD USD Bonds Bonds convertibles Equities 232,209,682 183,194,395 59,730,573 40,279,351 52,011,951 51,937,244 92,141,558 90,092,021 Funds Mortgage and Asset Backed Securities Rights Supranationals, Governments and Local Public Authorities, Debt Instruments Warrants Equity 3,188 8,714 Total Portfolio of Investments 232,209,682 183,194,395 59,730,573 40,279,351 52,011,951 51,937,244 92,141,558 90,092,021

STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 Strategic Income Fund Taiwan Equity Fund Turkey Equity Fund U.S. Bond Fund 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 USD USD USD USD USD USD USD USD Bonds 21,763,531 22,514,019 71,927,552 76,793,297 Bonds convertibles 423,947 230,836 277,046 264,431 Equities 2,684,254 2,974,988 30,415,847 28,581,635 35,691,057 32,532,420 901,457 1,280,805 Funds Mortgage and Asset Backed Securities 4,823,428 6,077,997 49,380,231 71,246,217 Rights Supranationals, Governments and Local Public Authorities, Debt Instruments 10,196,351 14,532,445 18,903,712 40,725,334 Warrants Equity 3,188 8,714 Total Portfolio of Investments 39,891,511 46,330,285 30,415,847 28,581,635 35,691,057 32,532,420 141,389,998 190,310,084 MANULIFE GLOBAL FUND 88

89 MANULIFE GLOBAL FUND STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (continued) as at 30 June 2017 and 30 June 2016 U.S. Treasury U.S. Small Cap Equity Fund U.S. Special Opportunities Fund Inflation- Protected Securities Fund 30 June 2017 30 June 2016 30 June 2017 30 June 2016 30 June 2017 30 June 2016 USD USD USD USD USD USD Bonds 62,339,906 63,154,045 Bonds convertibles 508,963 368,640 Equities 32,833,790 24,118,920 2,084,679 2,374,364 Funds Mortgage and Asset Backed Securities 9,172 60,518 Rights Supranationals, Governments and Local Public Authorities, Debt Instruments 8,286,674 8,094,931 Warrants Equity 1,505 3,188 8,714 Total Portfolio of Investments 32,833,790 24,118,920 64,935,053 65,897,049 8,295,846 8,155,449

AMERICAN GROWTH FUND Portfolio of Investments as at 30 June 2017 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 Belgium 63,243 Anheuser-Busch InBev ADR 7,329,313 7,011,752 2.18 7,329,313 7,011,752 2.18 Bermuda 139,371 IHS Markit Limited 4,446,262 6,160,198 1.92 4,446,262 6,160,198 1.92 Curacao 83,954 Schlumberger Limited 6,478,810 5,511,580 1.72 6,478,810 5,511,580 1.72 France 45,285 Danone 3,202,850 3,433,191 1.07 3,202,850 3,433,191 1.07 Ireland 47,066 Allergan plc 10,456,848 11,480,809 3.58 80,535 Medtronic Inc. 4,511,669 7,161,977 2.22 14,968,517 18,642,786 5.80 Switzerland 59,640 Novartis AG ADR 4,114,145 5,018,110 1.56 4,114,145 5,018,110 1.56 United Kingdom 79,272 Nielsen Holdings plc 3,207,623 3,067,826 0.95 3,207,623 3,067,826 0.95 United States 49,944 Affiliated Managers Group 7,613,299 8,334,156 2.60 9,945 Alphabet Inc. A 4,258,345 9,316,675 2.90 4,980 Alphabet Inc. C 2,078,172 4,560,086 1.42 20,094 Amazon.Com Inc. 8,136,358 19,649,722 6.13 42,127 American Express Company 2,433,440 3,526,872 1.10 42,853 American Tower Corp. 4,167,089 5,694,307 1.77 40,368 Amgen Inc. 4,684,266 6,985,279 2.17 126,010 Apple Computer Company 11,349,912 18,200,884 5.67 537,798 Bank of America Corp. 9,005,150 13,151,850 4.09 8,355 Blackrock Inc. 2,623,604 3,545,778 1.10 52,209 Carmax Inc. P.P. 144A 2,677,275 3,263,063 1.01 11,539 Caterpillar Inc. 997,810 1,236,058 0.38 22,424 Chevron Corp. 2,049,681 2,343,756 0.73 127,755 Cisco Systems Inc. 3,491,197 4,024,921 1.25 212,164 Citigroup Inc. 11,683,577 14,206,500 4.43 1,729 Coca Cola Company 75,439 77,874 0.02 18,880 Danaher Corp. 1,625,668 1,590,829 0.50 42,454 Exxon Mobil Corp. 3,571,660 3,440,897 1.07 83,259 Facebook Inc. A 6,404,630 12,534,642 3.90 8,804 Factset Research Systems Inc. 1,493,198 1,497,560 0.47 152,444 General Electric Company 3,403,777 4,128,946 1.29 MANULIFE GLOBAL FUND 90

AMERICAN GROWTH FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 70,095 Gilead Sciences Inc. 4,567,192 4,973,240 1.55 59,358 Goldman Sachs Group Inc. 10,581,696 13,348,427 4.16 18,540 Group 1 Automotive Inc. 1,085,388 1,167,278 0.36 134,305 JP Morgan Chase 5,576,215 12,299,652 3.83 211,667 Kinder Morgan Inc. 4,744,117 4,055,540 1.26 134,120 Lennar Corp. 5,036,775 7,183,468 2.23 133,813 Louisiana-Pacific Corp. 2,512,319 3,251,656 1.01 30,281 Lowe s Companies Inc. 1,213,806 2,331,940 0.73 72,969 Merck & Company Inc. 3,048,901 4,685,339 1.46 179,171 Morgan Stanley 5,107,781 8,044,778 2.50 15,816 Nike Inc. 816,934 914,956 0.28 2,627 NVR Inc. 2,965,514 6,186,532 1.93 25,073 PepsiCo Inc. 1,880,543 2,908,468 0.91 102,801 Polaris Industries Inc. 9,102,877 9,483,392 2.95 30,393 Procter & Gamble Company 2,244,147 2,649,662 0.82 61,778 Qualcomm Inc. 3,309,241 3,412,617 1.06 148,259 Tempur-Pedic International Inc. 7,600,760 7,917,031 2.46 114,837 Twenty-First Century Fox Inc. ADR 3,208,186 3,180,985 0.99 56,403 Union Pacific Corp. 5,001,249 6,096,036 1.90 33,192 United Parcel Service Inc. 2,675,711 3,659,418 1.14 52,694 United Technologies Corp. 5,364,053 6,441,315 2.00 53,606 Visa Inc. A 4,044,267 5,051,294 1.57 185,511,219 260,553,679 81.10 Equities Total 229,258,739 309,399,122 96.30 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 229,258,739 309,399,122 96.30 Portfolio of Investments 229,258,739 309,399,122 96.30 Other Net Assets 11,886,187 3.70 Net Assets 321,285,309 100.00 (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. 91 MANULIFE GLOBAL FUND

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 2016 TO 30 JUNE 2017* American Growth Fund Class A +23.62% American Growth Fund Class AA +23.31% American Growth Fund Class I +24.16% American Growth Fund Class I3 +25.54% S&P 500 Index +17.90% PERFORMANCE FROM 25 OCTOBER 2016 TO 30 JUNE 2017* American Growth Fund Class AA (HKD) +14.80% PORTFOLIO REVIEW Both sector allocations, which are driven by bottom-up stock picks, and security selection had a sizable positive impact on the sub-fund s performance. The sub-fund s portfolio manager (PM) stuck with the long-time strategy of focusing on financially sound companies with competitive advantages; the ability to generate substantial cash flow over sustained periods; and attractive stock prices compared to estimates of intrinsic value. This approach resulted in a sizable boost from stock selection and a sizable overweight in the financials sector. The sub-fund favoured several big banks that saw significant stock returns this past year. Prospects of deregulation, higher interest rates, and a better economic backdrop benefited the stocks. Furthermore, annual stress test results meant the banks could gain approval to increase their dividends and share buybacks. In the consumer discretionary sector, the sub-fund s largest position was a top contributor to performance. Strength in the company s core e-commerce business and cloud-computing operation drove first-quarter sales and earnings growth that topped estimates, driving the stock at one point through the US$1,000 per share mark. Expansion overseas and late-period plans to purchase another retailer (not in the sub-fund) also bolstered the company s prospects. Another top holding and standout was a consumer technology leader whose stock rose sharply, benefiting from a solid franchise and growth in the services side of the business. By contrast, stock picks in the energy sector and a small cash position in a rising market hampered performance. Among the sub-fund s biggest detractors this past year were a Netherlands-based energy services company, whose stock slid as continued low energy prices dampened demand for the services it provides to exploration and production (e&p) companies. Another detractor was a US-based e&p company whose stock was similarly pressured by weak energy prices. The risk of a dividend cut, given the company s relatively high debt level, worried investors, further hindering the stock. The holding was no longer in the portfolio at period end. Elsewhere, in consumer staples, a small stake in an infant formula company and a non-benchmark position in a global brewer hurt relative performance. Stock in the infant formula company fell due to its sizable exposure to China, where competition in the market has increased dramatically and regulations have made it more difficult for foreign competitors. Lower-than-expected sales in Asia, currency challenges, and price competition in the US hampered the company s earnings growth, causing a pullback in the stock. The PM sold the sub-fund s stake mid-way through the period. Shares of the brewer initially declined because of concern over whether the company would hit its synergy targets following last year s acquisition of a competitor. Weak economic growth in Brazil, one of the company s key end markets, and currency challenges further pressured the stock. * 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 92

AMERICAN GROWTH FUND MARKET REVIEW The US stock market had a strong run for the year ended 30 June 2017. Central bank support, low bond yields globally, and better-than-expected US corporate earnings reports helped stocks climb to new records last summer and early autumn. Stocks took off again after the results of the November US presidential election spurred expectations of better economic growth, higher interest rates, lower corporate tax rates, looser government regulations, and increased infrastructure spending. The stock market hit record highs shortly before period end, aided by the following factors: Promised production cuts by the Organization of the Petroleum Exporting Countries (OPEC), positive economic data, and the Fed s decision to inch its target short-term interest rate higher last December (and again in March and June). Investors, however, faced some challenges as 2017 unfolded. Concern mounted over whether the Trump administration would be able to push forward its pro-growth agenda, given delays passing new healthcare legislation and accusations about its ties to Russia. Weak oil prices and concern about North Korea were added challenges. However, late-period news that all the big US banks had passed their annual stress tests helped lift the broad-based S&P 500 Index to a strong finish. Within the S&P 500, returns in the financials and information technology sectors were especially strong, while the moredefensive telecommunication services and real estate sectors and the energy sector ended the period with declines. OUTLOOK Although the rally in US stocks is one of the longest on record having begun in March 2009 the PM remains optimistic about the market s prospects. Expectations are that US and global economies will continue the path to recovery. In fact, US economic growth could accelerate in the second half of 2017, especially if some of the Trump administration s pro-growth plans gain traction. Furthermore, consumer balance sheets and the US financial system remain healthy, US housing supply is below average, and unemployment is at a 16-year low. If US economic growth stays on track, the Fed will likely move ahead with unwinding some of the monetary stimulus measures that have been in place for years now, with further interest rate hikes and the sale of some of the assets in its US$4.5 trillion portfolio. The PM is also encouraged because first-quarter earnings in the S&P 500 Index exceeded consensus estimates by a wide margin. The PM thinks the market is at the beginning of a handoff, with a shift toward earnings rather than monetary policy driving gains going forward. Lastly, the PM continues to find good quality companies at stock valuations that look attractive relative to improving earnings growth prospects. The PM found some of the best opportunities in the economically sensitive financials and consumer discretionary sectors, each a sizable overweight, and in the information technology sector. These three sectors together accounted for over 60% of the sub-fund s assets at period end. 93 MANULIFE GLOBAL FUND

ASEAN EQUITY FUND Portfolio of Investments as at 30 June 2017 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 Indonesia 98,000 Astra International Tbk PT 57,305 65,625 0.99 209,000 Bank Central Asia Tbk Pt 186,964 284,615 4.30 192,000 Bank Rakyat Indonesia Persero Tbk Pt 187,457 219,688 3.32 1,148,958 Ciputra Development Tbk PT 121,283 100,861 1.52 136,300 Indofood Cbp Sukses Makmur Tbk PT 61,184 89,994 1.36 616,200 Perusahaan Perkebunan London 74,693 63,340 0.96 Sumatra Indonesia Tbk 5,316,700 Puradelta Lestari Tbk Pt 81,861 86,165 1.30 1,244,400 Ramayana Lestari Sentosa Tbk PT 118,916 114,375 1.73 835,000 Telekomunikasi Indonesia Tbk Pt 167,673 283,178 4.28 1,898,000 Total Bangun Persada Tbk PT 87,011 105,381 1.59 51,000 United Tractors Tbk PT 98,393 105,038 1.59 2,015,000 Wijaya Karya PT 112,644 93,735 1.42 605,616 Wijaya Karya PT 110,732 100,421 1.52 1,466,116 1,712,416 25.88 Malaysia 130,000 Gamuda Bhd 149,105 166,563 2.52 109,100 Genting Malaysia Bhd 122,447 139,785 2.12 228,400 Hup Seng Industries Bhd 65,004 64,381 0.97 11,000 Kuala Lumpur Kepong Bhd 64,199 63,755 0.96 18,000 Lpi Capital Bhd 75,596 79,168 1.20 62,000 Malayan Banking Bhd 123,223 139,089 2.10 48,000 Public Bank Bhd 195,624 227,216 3.43 87,000 Sime Darby Bhd 182,970 192,538 2.91 58,500 Top Glove Corp. Bhd 68,229 78,361 1.18 172,150 Uchi Technologies Bhd 57,024 74,191 1.12 1,103,421 1,225,047 18.51 Philippines 61,000 Bank of The Philippine Islands 114,618 125,725 1.90 179,000 Bloomberry Resorts Corp. 32,468 32,814 0.50 415,500 Melco Resorts and Entertainment 39,146 71,968 1.08 Philippines Corp. 71,960 Robinsons Retail Holdings Inc. 111,689 124,071 1.88 219,400 Sm Prime Holdings Inc. 97,403 143,486 2.17 884,800 Vista Land & Lifescapes Inc. 95,767 101,878 1.54 491,091 599,942 9.07 MANULIFE GLOBAL FUND 94

ASEAN EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Singapore Thailand Vietnam 78,000 Capitaland Limited 168,161 198,337 3.01 54,000 First Resources Limited 66,800 74,344 1.12 41,000 Keppel Corp. Limited 162,403 187,359 2.83 44,300 Oversea-Chinese Banking Corp. Limited 281,640 347,268 5.25 64,000 Raffles Medical Group Limited 66,262 62,305 0.94 53,400 Singapore Technologies Engineering Limited 131,504 142,767 2.16 42,000 Singapore Telecommunications 104,936 118,697 1.79 22,000 United Overseas Bank Limited 328,189 369,532 5.58 32,000 Uol Group Limited 160,235 177,617 2.68 15,900 Venture Corp. Limited 91,848 139,195 2.10 1,561,978 1,817,421 27.46 21,000 Advanced Info Service pcl NVDR 116,160 109,730 1.66 119,000 Airports of Thailand pcl NVDR 98,396 165,523 2.50 108,000 CH. Karnchang pcl 80,433 92,200 1.39 168,700 Eastern Polymer Group NVDR 55,136 62,574 0.95 30,500 Kasikornbank pcl NVDR 161,303 178,225 2.69 23,000 PTT pcl nvdr NVDR 229,056 250,517 3.79 189,200 Somboon Advance Technology pcl NVDR 88,503 93,013 1.41 828,987 951,782 14.39 16,560 Vietnam Dairy Products JSC 98,652 114,833 1.74 98,652 114,833 1.74 Equities Total 5,550,245 6,421,441 97.05 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 5,550,245 6,421,441 97.05 Portfolio of Investments 5,550,245 6,421,441 97.05 Other Net Assets 195,290 2.95 Net Assets 6,616,731 100.00 (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. 95 MANULIFE GLOBAL FUND

ASEAN EQUITY FUND The investment objective of the sub-fund is to generate long-term capital growth through investing primarily in equity and equity-related securities of companeis listed or incorporated in countries which are members of ASEAN as well as companies incorporated outside ASEAN but which have significant economic exposure to, or derive a significant proportion of their income from the ASEAN region. The ASEAN region is defined as members of the Association of South East Asian Nations, which currently comprise Singapore, Malaysia, Thailand, Indonesia, Brunei, the Philippines, Vietnam, Cambodia, Laos and Myanmar. PERFORMANCE FROM 1 JULY 2016 TO 30 JUNE 2017* ASEAN Equity Fund Class I +6.86% MSCI South East Asia Index +10.91% PORTFOLIO REVIEW Stock selection in Indonesia and Thailand negatively impacted performance. However, this was partly offset by stock selection in the Philippines and Singapore, and the underweight in the Philippines. The top contributor was a Singaporean electronics contract manufacturing services provider, which reported strong first quarter earnings results on the back of broad-based growth in demand especially in the medical and technology fields. A Philippine casino operator contributed positively to performance due to better-than-expected first quarter earnings. This was driven by a surge in gross gaming revenue across all business segments. Furthermore, the number of foreign players has increased (especially from China). Some of the sub-fund s holdings in Indonesia were the key detractors. The main detractor was a construction materials supplier as investors lost patience over the delivery of earnings from the implementation of government projects. The sub-fund s portfolio manager (PM) continues to like the company the PM expects new contracts to ramp-up by the second half of 2017, and the company s cash flows to improve accordingly. Another detractor was a property developer given the weak sentiment on the real estate sector due to slow pre-sales. Good prospects for the company remain as its pre-sales gain momentum for the rest of the year with the launch of its new projects. From a sector perspective, the key detractors were stock selection in materials and consumer staples, and the underweight in financials. Stock selection in industrials and telecommunication services, and the overweight in information technology contributed positively to performance. * 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 96

ASEAN EQUITY FUND MARKET REVIEW Southeast Asian equity markets had a strong start during the period in review due to companies reporting mostly better-than-expected earnings during the third quarter reporting season. During the first half of 2017, strong positive sentiment buoyed the Southeast Asian markets due to the notable improvement in economic data across the region as well as on improved earnings outlook. Despite the Fed hiking policy rates thrice by 25 basis points (bps) each in December, March, and June to 1.25%, the central bank maintained a dovish outlook on the tightening cycle. Oil prices were volatile as Organization of the Petroleum Exporting Countries (OPEC) and non-opec members decision to extend their production cut was offset by mounting concerns on weak demand and a supply glut. Singapore s first quarter GDP rose by 2.7% year-on-year on the back of the manufacturing sector s strong growth. Non-oil domestic exports decline in May was better than expected as robust electronics sector growth was offset by non-electronic exports. Industrial production in May rose given the growth in all segments except for the biomedical cluster. The government surprised the property market by relaxing the seller s stamp duty. This marked the first easing after years of maintaining a tight stance in the real estate sector. Indonesia s sovereign credit rating was upgraded by S&P in May by one notch (to BBB-), achieving full investment grade status among the major credit rating agencies. First quarter GDP growth registered at 5.0% year-on-year, supported by strong exports, steady private consumption, and fixed investments. Consumer confidence index in May of 125.9 was the highest in nearly 17 years due to expectations of better economic conditions and job availability. The tax amnesty programme, which was launched last July, has concluded by the end of March, with total government revenue amounting to IDR411 trillion (around US$31 billion) and accounting for around 35% of the estimated budget deficit for the 2017 fiscal year. Thailand s first quarter GDP expanded by 3.3% year-on-year, the fastest in three quarters, driven by the agricultural sector, exports, and household consumption. The Thai Cabinet approved the budget to alleviate the financial situation of farmers and improve rice production. The central bank kept policy rates unchanged as it expressed optimism on the improving growth outlook and on the bigger role of fiscal spending. In relation to this, the central bank raised the 2017 GDP growth forecast from 3.2% year-onyear to 3.4%. The Thai King passed away after 70 years of rule in October. Malaysia s first quarter GDP growth was faster than expected at 5.6% year-on-year (relative to consensus forecast of 4.8%) due to strong private consumption and investments. Exports in April surged 20.6% year-on-year due to strong demand for its manufactured goods. Industrial production in April rose slower than expected as it was dragged down by mining and electricity output. Malaysia s budget for 2017 was announced and will focus on private consumption and fiscal consolidation. The Philippines was the worst performing benchmark constituent market as concerns over political noise intensified. First quarter GDP grew by a slower-than-expected 6.4% year-on-year (compared to 6.7% market estimates), though it remains among the fastest in the region on the back of robust domestic demand and softer government spending. The government unveiled its 3-year infrastructure program amounting to PHP3.6 trillion (around US$72.0 billion). 97 MANULIFE GLOBAL FUND

ASEAN EQUITY FUND OUTLOOK The move by S&P in upgrading Indonesia to investment grade is an endorsement to the country s improving economic fundamentals. That said, the upside potential of most stocks and companies in the market remain under-appreciated as investors focus on short-term earnings weakness. The PM still believes that this market has a strong upside potential once the impact from the improvement in the economy trickles down to corporate earnings. Companies in Singapore, Thailand, and Malaysia, despite strong share price performance in the first quarter of 2017, had generally delivered weaker-than-expected earnings growth. This implies valuations have run ahead of fundamentals in most cases. The sub-fund deliberately stayed away from the unjustified stock rally during the period and focused on investing in good quality companies trading on reasonable valuations. The strategy has paid off in the recent month, and contributed to the strong outperformance of the portfolio relative to benchmark year to date. The longer-term outlook of South East Asia markets remain positive as governments continue to spend on infrastructure projects. This is amplified by investments from China under its Belt and Road initiatives. Philippines and Thailand are benefiting from a strong influx of Chinese visitors, while Malaysia and Indonesia receive funding for various infrastructure projects. The multiplier effect from these economic activities is expected to contribute positively to domestic consumption and asset prices in due course. MANULIFE GLOBAL FUND 98

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2017 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 Canada 26,000,000 British Columbia (Province of) 6.600% 388,144 409,969 0.42 9/Jan/2020 388,144 409,969 0.42 India 100,000,000 India (Govt of) 7.590% 11/Jan/2026 1,586,957 1,620,270 1.68 55,000,000 India (Govt of) 7.680% 15/Dec/2023 857,572 891,668 0.92 90,000,000 India (Govt of) 8.120% 10/Dec/2020 1,421,276 1,458,396 1.51 120,000,000 India (Govt of) 8.270% 9/Jun/2020 1,863,232 1,942,664 2.02 5,729,037 5,912,998 6.13 Indonesia 5,000,000,000 Indonesia (Govt of) 7.000% 15/May/2027 576,529 380,564 0.39 19,000,000,000 Indonesia (Govt of) 8.375% 15/Mar/2024 1,641,310 1,546,266 1.60 12,000,000,000 Indonesia (Govt of) 8.375% 15/Sep/2026 986,428 994,933 1.03 11,000,000,000 Indonesia (Govt of) 8.750% 15/May/2031 877,913 932,083 0.96 16,500,000,000 Indonesia (Govt of) 9.000% 15/Mar/2029 1,105,198 1,413,202 1.46 5,187,378 5,267,048 5.44 New Zealand 750,000 New Zealand (Govt of) 4.500% 15/Apr/2027 534,928 619,649 0.64 550,000 New Zealand (Govt of) 5.500% 15/Apr/2023 526,360 463,642 0.48 1,061,288 1,083,291 1.12 Philippines 800,000 Philippine (Govt of) 3.700% 2/Feb/2042 800,000 808,768 0.84 800,000 808,768 0.84 Republic of Korea (South) 19,000,000,000 Export-Import Bank of Korea 8.000% 1,529,585 1,440,538 1.49 15/May/2018 1,500,000,000 Korea (Govt of) 2.750% 10/Mar/2018 1,448,789 1,323,288 1.37 1,000,000,000 Korea (Govt of) Treasury Bond 2.750% 917,495 876,494 0.91 10/Sep/2017 750,000,000 Korea (Govt of) Treasury Bond 5.000% 680,703 716,405 0.74 10/Jun/2020 400,000,000 Korea (Govt of) Treasury Bond 5.750% 404,898 366,946 0.38 10/Sep/2018 4,981,470 4,723,671 4.89 Supranational 58,000,000 Inter-American Development Bank 6.000% 857,312 897,381 0.93 5/Sep/2017 30,000,000 International Finance Corp. 6.450% 472,109 469,646 0.49 30/Oct/2018 1,329,421 1,367,027 1.42 Thailand 30,000,000 Thailand (Govt of) 1.200% 14/Jul/2021 991,230 929,354 0.96 991,230 929,354 0.96 99 MANULIFE GLOBAL FUND

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States 970,000 United States Treasury N/B 2.875% 15/Nov/2046 940,903 977,123 1.01 940,903 977,123 1.01 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 21,408,871 21,479,249 22.23 Bonds Australia 1,000,000 Australia & New Zealand Banking Group 1,115,000 1,108,465 1.15 Limited FRN 29/Dec/2049 1,000,000 Commonwealth Bank of Australia 5.125% 819,850 763,786 0.79 1/Aug/2019 650,000 FMG Resources August 2006 Pty Limited 650,000 655,025 0.68 4.750% 15/May/2022 600,000 Incitec Pivot Limited 5.750% 21/Feb/2019 566,699 479,002 0.50 3,151,549 3,006,278 3.12 Bermuda 200,000 Rkp Overseas Finance 7.950% 29/Dec/2049 200,000 206,092 0.21 200,000 206,092 0.21 Canada 900,000 Nexen Energy Ulc 5.875% 10/Mar/2035 999,721 1,079,414 1.12 250,000 PTTEP Canada International Finance Limited 250,000 321,974 0.33 6.350% 12/Jun/2042 1,249,721 1,401,388 1.45 Cayman Islands 300,000 Agile Property Holdings Limited 8.375% 310,860 312,653 0.32 18/Feb/2019 650,000 Biostime International Holdings Limited 661,250 683,127 0.71 7.250% 21/Jun/2021 400,000 China Overseas Finance Cayman V Limited 398,660 414,488 0.43 3.950% 15/Nov/2022 400,000 China Overseas Finance Cayman V Limited 354,840 435,322 0.45 5.350% 15/Nov/2042 500,000 Future Land Develo 6.250% 12/Nov/2017 500,550 503,663 0.52 800,000 Future Land Development Holdings Limited 799,012 792,571 0.83 5.000% 16/Feb/2020 264,000 Hengdeli Holdings Limited 6.250% 263,102 267,630 0.28 29/Jan/2018 800,000 Hilong Holding Limited 7.250% 22/Jun/2020 794,712 768,388 0.80 900,000 Lenovo Perpetual Securities Limited FRN 900,000 917,141 0.95 FRN 29/Dec/2049 900,000 Parkson Retail Group Limited 4.500% 871,500 893,268 0.92 3/May/2018 1,000,000 Tencent Holdings Limited 3.800% 1,023,280 1,043,470 1.08 11/Feb/2025 400,000 Times Property Holdings Limited 11.450% 449,304 437,136 0.45 5/Mar/2020 7,327,070 7,468,857 7.74 MANULIFE GLOBAL FUND 100

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets China 650,000 CCB Life Insurance Company Limited FRN 650,000 662,652 0.69 21/Apr/2077 1,100,000 China Construction Bank Corp. FRN 1,122,577 1,120,790 1.16 13/May/2025 1,600,000 China Construction Bank Corp. FRN 261,339 237,687 0.25 12/Nov/2024 ** 1,000,000 Industrial & Commercial Bank of China H 1,032,720 1,068,325 1.11 4.875% 21/Sep/2025 3,066,636 3,089,454 3.21 Hong Kong 1,200,000 Bank of East Asia Limited FRN 3/Nov/2026 1,198,056 1,202,447 1.25 500,000 Bank of East Asia Limited FRN 13/Sep/2022 410,598 365,335 0.38 500,000 Chalco Hong Kong Investment Company FRN 522,500 523,505 0.54 29/Oct/2049 200,000 Chalieco Hong Kong Corp. Limited FRN 200,000 206,819 0.21 29/Dec/2049 300,000 Far East Horizon 4.350% 14/Jun/2065 300,000 302,069 0.31 900,000 FPT Finance Limited 6.375% 28/Sep/2020 956,000 980,195 1.01 800,000 Hesteel Hong Kong Company Limited 797,008 792,096 0.82 4.250% 7/Apr/2020 350,000 Icici Prudential Life Insurance Company 348,803 353,346 0.37 3.375% 5/Apr/2022 800,000 Mcc Holding Hk Corp. 2.950% 31/May/2020 800,542 804,496 0.83 1,000,000 Wheelock Finance Limited 4.500% 821,143 784,457 0.81 2/Sep/2021 400,000 Yancoal International Resources Development 402,900 406,476 0.42 Company Limited FRN 29/Dec/2049 6,757,550 6,721,241 6.95 India 400,000 Adani Ports and Special 4.000% 30/Jul/2027 396,512 397,002 0.41 720,000 HPCL Mittal Energy Limited 5.250% 720,000 742,338 0.76 28/Apr/2027 600,000 Idbi Bank Limited 4.125% 23/Apr/2020 605,700 605,760 0.63 250,000 Reliance Industries Limited 4.125% 247,495 259,183 0.27 28/Jan/2025 600,000 Reliance Industries Limited 4.875% 593,190 630,645 0.65 10/Feb/2045 2,562,897 2,634,928 2.72 101 MANULIFE GLOBAL FUND

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Indonesia 800,000 MPM Global Pte Limited 6.750% 796,750 830,300 0.86 19/Sep/2019 550,000 Pelabuhan Indonesia II Pt 4.250% 544,478 560,112 0.58 5/May/2025 500,000 Pertamina Persero PT 6.450% 30/May/2044 566,000 569,905 0.59 800,000 Perusahaan Gas Negara Persero Tbk PT 876,000 861,860 0.89 5.125% 16/May/2024 400,000 Perusahaan Listrik Negara Pt 5.500% 408,800 437,414 0.45 22/Nov/2021 700,000 PT Bukit Makmur Mandiri Utama 7.750% 704,442 718,430 0.74 13/Feb/2022 750,000 PT Perusahaan Listrik Negara 4.125% 742,425 738,214 0.76 15/May/2027 350,000 Saka Energi Indonesia Pt 4.450% 5/May/2024 350,000 352,615 0.37 4,988,895 5,068,850 5.24 Isle of Man 800,000 Gohl Capital Limited 4.250% 24/Jan/2027 797,745 829,740 0.86 797,745 829,740 0.86 Jersey Channel Islands 600,000 West China Cement Limited 6.500% 608,685 619,929 0.64 11/Sep/2019 608,685 619,929 0.64 Malaysia 6,750,000 Cagamas Global 3.700% 22/Sep/2017 ** 1,098,904 994,101 1.03 1,300,000 Cimb Bank Bhd 4.375% 25/Sep/2019 1,177,917 1,004,697 1.04 1,000,000 IOI Investment Bhd 4.375% 27/Jun/2022 994,840 1,044,455 1.08 250,000 Malayan Banking Bhd FRN 29/Oct/2026 250,000 255,431 0.26 1,000,000 SSG Resources Limited 4.250% 4/Oct/2022 1,002,422 1,052,320 1.09 4,524,083 4,351,004 4.50 Mauritius 650,000 HT Global It Solutions Holdings Limited 665,356 684,986 0.71 7.000% 14/Jul/2021 665,356 684,986 0.71 Netherlands 400,000 Bharti Airtel International Netherlands BV 391,416 421,712 0.44 5.125% 11/Mar/2023 391,416 421,712 0.44 MANULIFE GLOBAL FUND 102

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets New Zealand 5,000,000 Fonterra Cooperative Group Limited 3.600% 811,384 729,406 0.75 29/Jan/2019 ** 811,384 729,406 0.75 Philippines 14,000,000 Petron Corp. 7.000% 10/Nov/2017 328,615 280,851 0.29 328,615 280,851 0.29 Republic of Korea (South) 1,200,000 Busan Bank 3.625% 25/Jul/2026 1,198,699 1,162,758 1.20 2,000,000,000 Dongbu Insurance 3.865% 25/May/2027 1,788,020 1,765,429 1.83 800,000 Shinhan Bank FRN 7/Dec/2026 798,972 818,672 0.85 550,000 Woori Bank FRN 16/Nov/2065 550,000 560,915 0.58 4,335,691 4,307,774 4.46 Singapore 600,000 Alam Synergy Pte Limited 6.625% 596,604 597,750 0.62 24/Apr/2022 1,600,000 Boc Aviation Limited 3.000% 23/May/2022 1,591,535 1,593,807 1.66 1,200,000 Dbs Group Holdings FRN 29/Dec/2049 1,200,000 1,200,078 1.24 650,000 Modernland Overseas Pte Limited 6.950% 650,000 646,422 0.67 13/Apr/2024 600,000 Ongc Videsh Vankornef 3.750% 27/Jul/2026 608,760 594,630 0.62 1,750,000 Singapore Post Limited 4.250% 29/Sep/2049 1,398,071 1,343,417 1.39 500,000 Tbg Global Pte Limited 5.250% 10/Feb/2022 483,563 520,000 0.54 300,000 Theta Capital Pte Limited 6.750% 297,750 299,306 0.31 31/Oct/2026 1,000,000 United Overseas Bank Limited FRN 995,740 1,020,075 1.06 16/Sep/2026 1,250,000 United Overseas Bank Limited FRN 881,554 937,453 0.97 27/Feb/2029 8,703,577 8,752,938 9.08 Thailand 800,000 PTT Global Chemical pcl 4.250% 19/Sep/2022 807,746 851,652 0.88 200,000 Thai Oil pcl 3.625% 23/Jan/2023 198,342 206,223 0.21 700,000 Thai Oil pcl 4.875% 23/Jan/2043 697,445 750,117 0.78 1,703,533 1,807,992 1.87 103 MANULIFE GLOBAL FUND

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United Kingdom 300,000 Vedanta Resources plc 7.125% 31/May/2023 270,000 309,434 0.32 500,000 Vedanta Resources plc 8.250% 7/Jun/2021 535,000 546,140 0.57 805,000 855,574 0.89 United States 250,000 Reliance Holdings USA Inc. 5.400% 248,523 274,235 0.28 14/Feb/2022 248,523 274,235 0.28 Virgin Islands (British) 1,000,000 Beijing Gas Singapore Capital Corp. 2.750% 990,900 986,610 1.02 31/May/2022 1,250,000 Bestgain Real Estate Limited 3.275% 1,002,916 911,788 0.95 6/Nov/2017 250,000 Bluestar Fin Holdings 3.500% 30/Sep/2021 249,035 250,543 0.26 1,000,000 Bluestar Finance Holdings FRN 17/Dec/2049 1,022,500 1,017,180 1.05 200,000 Ccci Treasure Limited FRN 29/Dec/2049 200,000 201,940 0.21 800,000 China Cinda Finance 4.250% 23/Apr/2025 843,280 812,936 0.84 800,000 China Reinsurance Finance Corp. 3.375% 795,936 790,632 0.81 9/Mar/2022 1,300,000 China Southern Power 3.500% 8/May/2027 1,289,379 1,295,534 1.35 500,000 Chinalco Capital Holdings Limited 4.250% 505,500 503,950 0.52 21/Apr/2022 600,000 Dianjian Haiyu Limited 3.500% 14/Dec/2065 600,000 599,427 0.62 1,000,000 Franshion Brilliant Limited 4.000% 3/Jan/2066 1,000,000 996,970 1.03 600,000 Huarong Finance II Company Limited 4.875% 605,100 621,837 0.64 22/Nov/2026 900,000 Proven Honour Capital Limited 4.125% 910,889 924,111 0.96 19/May/2025 600,000 Road King Infrastructure 5.000% 9/Aug/2019 610,350 601,203 0.62 1,100,000 State Grid Overseas 4.000% 4/May/2047 1,100,000 1,111,215 1.15 1,000,000 Yongda Investment Limited 3.750% 1,042,020 1,025,655 1.06 21/Jul/2020 12,767,805 12,651,531 13.09 Bonds Total 65,995,731 66,164,760 68.50 MANULIFE GLOBAL FUND 104

ASIA TOTAL RETURN FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Bonds convertibles Hong Kong 800,000 Dah Sing Bank Limited FRN 30/Nov/2026 797,400 818,244 0.85 797,400 818,244 0.85 Bonds convertibles Total 797,400 818,244 0.85 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 88,202,002 88,462,253 91.58 Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities Supranationals, Governments and Local Public Authorities, Debt Instruments Malaysia 3,500,000 Malaysia (Govt of) 4.181% 15/Jul/2024 809,097 828,473 0.86 300,000 Malaysia (Govt of) 4.254% 31/May/2035 74,202 67,760 0.07 1,500,000 Malaysia (Govt of) 4.392% 15/Apr/2026 531,622 358,020 0.37 1,414,921 1,254,253 1.30 Philippines 101,000,000 Philippine (Govt of) 3.500% 21/Apr/2023 1,997,527 1,916,920 1.99 1,997,527 1,916,920 1.99 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 3,412,448 3,171,173 3.29 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities 3,412,448 3,171,173 3.29 Portfolio of Investments 91,614,450 91,633,426 94.87 Other Net Assets 4,957,058 5.13 Net Assets 96,590,484 100.00 ** The security is valued with the off-shore FX rate of CNH (refer to note 2.2 on page 254) (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 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 2016 TO 30 JUNE 2017* Asia Total Return Fund Class AA +3.77% Asia Total Return Fund Class AA Inc +3.78% Asia Total Return Fund Class AA (HKD) +3.77% Asia Total Return Fund Class AA (HKD) Inc +3.77% Asia Total Return Fund Class I +4.07% Asia Total Return Fund Class I3 +5.12% Asia Total Return Fund Class J +4.60% MGF Asia Total Return Custom Index +2.91% PORTFOLIO REVIEW The portfolio s overall security selection in corporate bonds was the main contributor to relative performance. The portfolio s exposure to Indonesian and Indian local currency also contributed positively amid lower bond yields. Furthermore, the portfolio s underweight US dollar interest rate positioning was also a contributor, amid a rising US interest rate environment. On the other hand, the portfolio s zero exposure to Taiwanese dollars slightly detracted from performance, with the currency strengthening against the US dollar over the period. MARKET REVIEW In US, the Fed increased its federal funds target rate three times, by 25 basis points (bps) each time. During the fourth quarter of 2016, US Treasury yields were volatile and spiked sharply in a short amount of time after the US elections. This occurred due to expectation of expansive fiscal spending and higher inflation under the new presidential administration. 10-year Treasury yields rose from 1.47% to 2.30% over the period. Moody s Investors Service downgraded China s sovereign credit rating from Aa3 to A1. The rating agency cited several factors, such as rising debt levels and slowing potential growth, which could erode the country s financial strength. The announcement had minimal impact on Chinese bond and currency markets, as it had been largely expected by most market participants. Standard & Poor s upgraded Indonesia s sovereign credit rating from BB+ to BBB-, as the government was successful in reducing its budget deficit. With this upgrade, the country was rated investment-grade by all three major credit rating agencies. Indonesian government bond yields fell over the period amid expectations of further capital inflows from foreign investors. Indian government bond yields fell over the period as the government announced the demonetisation of large-denomination notes. This move led to a surge of liquidity in the banking system and a subsequent increase in bond investments from banks. Asian corporate credit markets saw gains, predominately driven by the positive carry. The JP Morgan Asian Investment Grade Corporate Bond Index returned 2.26% and the JP Morgan Asian High Yield Corporate Bond Index returned 6.48% in US dollar terms. * 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 TOTAL RETURN FUND The performance of Asian currencies was mixed against the US dollar. The Indian rupee was one of the better performing currencies, as the Reserve Bank of India (RBI) raised the reverse repo rate by 25bps to 6% in April. The Philippine peso was one of weaker-performing currencies, as the country s trade deficit widened to US$2.8 billion in May. OUTLOOK The sub-fund s portfolio manager (PM) believes volatility in global and Asian bond markets may pick up in the coming months. Some developed central banks may be on the inflection point to normalise monetary policy, and there could be rising geopolitical risks regionally. Nevertheless, the PM believes overall fundamentals are supportive for Asian bond markets. Indonesia s full-fledged investment grade status may spur further capital inflow into the region. Asian credit spreads have continued to tighten amid capital inflows into the region. The PM is mindful of the relatively stretched valuations, but recognises that the abundant regional liquidity can continue mitigating refinancing risks and keeping credit spreads at relatively tight levels, especially in the corporate space. Meanwhile for currencies, the PM believes the strong US dollar environment could resume should there be any meaningful protectionism activities from the US. The PM is therefore watchful for opportunities to selectively take an underweight position in relatively export-reliant Asian currencies like the South Korean won and Taiwan dollar. 107 MANULIFE GLOBAL FUND

ASIA VALUE DIVIDEND EQUITY FUND Portfolio of Investments as at 30 June 2017 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 3,030,000 CSI Properties Limited 136,681 145,556 0.87 522,216 Skyworth Digital Holdings Limited 339,369 324,450 1.94 476,050 470,006 2.81 Cayman Islands 104,000 Belle International Holdings Limited 91,649 82,067 0.49 26,680 Cheung Kong Property Holdings Limited 169,090 208,996 1.25 80,900 China Jinjiang Environment Holding 51,999 48,195 0.29 Company Limited 246,000 China Lilang Limited 164,275 163,869 0.97 200,000 China State Construction International 294,686 342,288 2.05 Holdings Limited 156,000 China Tian Lun Gas Holdings 85,958 83,932 0.50 520,000 Cifi Holdings Group Company Limited 115,600 231,147 1.38 15,180 CK Hutchison Holdings Limited 193,675 190,570 1.14 140,000 EGL Holdings Company Limited 34,435 23,853 0.14 359,000 FSE Engineering 82,539 108,993 0.65 38,000 Haitian International Holdings Limited 57,441 106,605 0.63 63,000 HKBN Limited 66,391 63,030 0.38 302,000 Hopefluent Group Holdings Limited 94,282 103,294 0.62 764,000 Jiangnan Group Limited 183,511 66,552 0.40 142,000 Lee & Man Holding Limited 69,950 73,671 0.44 336,500 Longfor Properties Company Limited 490,674 723,325 4.31 340,000 Nameson Holdings Limited 66,696 65,768 0.39 425,381 Oi Wah Pawnshop Credit Holding 28,344 23,704 0.14 4,000 Parade Technologies Limited 50,354 49,178 0.29 65,500 Shimao Property Holdings Limited 108,704 112,100 0.67 350,000 Sitc International Company Limited 168,994 275,291 1.64 209,000 Springland International Holdings Limited 102,633 41,231 0.25 352,000 Tk Group Holdings Limited 97,166 143,392 0.86 20,000 Wasion Meters Group Limited 10,590 9,198 0.05 71,000 WH Group Limited 54,474 71,671 0.43 310,000 Wonderful Sky Financial Group 66,709 82,203 0.49 Holdings Limited 3,000,819 3,494,123 20.85 MANULIFE GLOBAL FUND 108

ASIA VALUE DIVIDEND EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets China 132,000 China Cinda Asset Management H 51,106 49,207 0.29 51,000 China Communications Construction 70,862 65,724 0.39 Company Limited H 1,007,000 China Construction Bank Corp. 728,243 780,442 4.66 35,000 China Life Insurance Company Limited H 123,021 106,933 0.64 122,000 China Machinery Engineering Corp. H 92,155 86,113 0.51 173,627 Chongqing Changan Automobile 369,920 229,092 1.37 Company Limited 121,000 Chongqing Rural Commercial Bank H 82,004 81,687 0.49 23,700 Huayu Automotive Systems Company 57,889 84,686 0.51 Limited A ** 778,000 Petrochina Company Limited 568,092 476,391 2.84 50,000 Ping An Insurance Group Company 269,789 329,542 1.97 of China Limited 425,000 Qingdao Port International H 228,579 244,451 1.45 174,800 Xinjiang Goldwind Science & Technology 261,269 255,271 1.52 Company Limited 147,500 Yangtze Optical Fibre & Cable Joint Stock 183,994 313,280 1.87 Limited H 3,086,923 3,102,819 18.51 Hong Kong 41,500 BOC Hong Kong Holdings Limited 129,302 198,561 1.18 80,000 China Overseas Land & Investment Limited 256,471 234,171 1.40 184,000 China Power International 77,073 65,291 0.39 Development Limited 170,834 China Resources Power Holdings 396,653 335,266 2.00 Company Limited 6,000 Chow Sang Sang Holding 13,825 14,004 0.08 100,000 Convenience Retail Asia Limited 44,134 49,575 0.30 512,110 Far East Consortium 209,992 286,026 1.71 337,000 Far East Horizon Limited 296,888 293,990 1.75 82,000 Goldpac Group Limited 25,595 24,685 0.15 59,280 Hui Xian Real Estate Investment Trust ** 30,494 27,177 0.16 228,000 Hutchison Telecommunications Hong Kong 78,234 80,320 0.48 Holdings Limited 97,000 Jinmao Investments and Jinmao (China) 50,556 52,686 0.31 Investments Holdings Limited 49,500 Smartone Telecommunications 78,798 64,806 0.39 Holding Limited 106,500 XTEP International Holdings 45,728 41,065 0.25 1,733,743 1,767,623 10.55 109 MANULIFE GLOBAL FUND

ASIA VALUE DIVIDEND EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Indonesia 862,700 Bank Pan Indonesia Tbk PT 49,519 63,110 0.38 2,451,800 Bekasi Fajar Industrial Estate Tbk PT 55,899 59,970 0.36 217,000 Indosat TBK PT 106,045 105,829 0.63 278,500 Link Net Tbk PT 112,294 108,136 0.65 491,400 Media Nusantara Citra Tbk PT 70,682 67,840 0.40 443,600 Metropolitan Land TBK PT 10,150 10,384 0.06 589,600 Nusa Raya Cipta Tbk Pt 43,620 17,784 0.11 6,748,000 Panin Life Tbk PT 100,546 118,475 0.71 521,600 Perusahaan Gas Negara Pt 101,402 88,055 0.53 525,300 Total Bangun Persada Tbk PT 31,360 29,166 0.17 31,600 United Tractors Tbk PT 58,763 65,083 0.39 470,300 Waskita Karya Persero Tbk PT 84,198 81,864 0.48 354,500 Xl Axiata Tbk PT 80,887 90,700 0.54 Malaysia 905,365 906,396 5.41 67,400 CB Industrial Product Holding Bhd 31,687 31,874 0.19 31,216 Cimb Group Holdings Bhd 35,892 47,849 0.29 253,050 Mah Sing Group Bhd 109,151 95,498 0.57 13,100 Padini Holdings Bhd 10,073 10,742 0.06 35,000 Tenaga Nasional Bhd 115,163 115,290 0.69 103,800 UOA Development Bhd 66,949 61,661 0.37 368,915 362,914 2.17 Philippines 51,200 EEI Corp. 10,017 10,147 0.06 589,000 Megaworld Corp. 50,901 50,193 0.30 58,420 Metropolitan Bank & Trust 103,297 101,305 0.60 160,900 Pryce Corp. 20,052 22,321 0.13 184,267 183,966 1.09 Republic of Korea (South) 2,241 Amotech Company Limited 51,647 54,940 0.33 239 E-Mart Company Limited 45,611 48,984 0.29 901 Fila Korea Limited 70,866 67,330 0.40 166 Hyundai Robotics Company Limited 61,111 56,076 0.33 4,374 KB Financial Group Inc. 161,292 220,582 1.32 8,119 Korea Electric Power Corp. 333,554 289,520 1.73 1,003 Maeil Dairies Company Limited 7,201 65,484 0.39 982 S1 Corp. 85,274 83,253 0.50 140 Samsung Electronics Company Limited 199,396 290,853 1.74 613 Samsung Electronics Company 640,566 997,601 5.96 Limited Pfd 1 Samsung Fire & Marine Insurance 201 246 0.00 Company Limited 2,142 Samsung Fire & Marine Insurance Company 168,515 365,066 2.17 Limited 3,381 Sekonix Company Limited 48,169 53,782 0.32 1,521 SK hynix Inc. 44,164 89,599 0.53 11,242 V One Tech Company Limited 174,379 173,913 1.04 2,091,946 2,857,229 17.05 MANULIFE GLOBAL FUND 110

ASIA VALUE DIVIDEND EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Singapore 83,700 AIMS AMP Capital Industrial REIT 82,809 89,997 0.54 175,200 Asian Pay Television Trust 99,314 72,552 0.43 71,741 Capitaretail China Trust 78,103 85,477 0.51 115,073 Croesus Retail Trust 65,578 98,650 0.59 11,566 DBS Group Holdings Limited 154,459 174,274 1.04 38,900 Ezion Holdings Limited 32,044 6,641 0.04 541,100 Ips Securex Holdings Limited 78,740 37,739 0.23 142,300 Viva Industrial Trust 79,981 91,493 0.54 68,900 Yangzijiang Shipbuilding Holdings Limited 61,657 59,567 0.36 732,685 716,390 4.28 Taiwan 28,655 Advanced Semiconductor Engineering Inc. 31,914 36,784 0.22 47,000 Basso Industry Corp. 126,940 131,328 0.78 22,000 Chilisin Electronics Corp. 60,550 59,303 0.35 49,000 Chipmos Technologies Inc. 52,069 48,887 0.29 153,000 CTBC Financial Holding Company Limited 83,466 100,340 0.60 13,000 FLEXium Interconnect Inc. 38,162 48,931 0.29 106,000 Inventec Company Limited 84,409 86,417 0.52 42,000 Kerry TJ Logistics Company Limited 56,994 52,258 0.31 204,000 King Yuan Electronics Company Limited 194,113 208,895 1.25 930 Largan Precision Company Limited 71,828 148,274 0.88 42,000 Pegatron Corp. 126,172 131,578 0.80 38,000 Quanta Computer Inc. 83,516 89,940 0.53 2,000 Superalloy Industrial Company Limited 12,127 9,730 0.06 61,000 Taiwan Sakura Corp. 69,393 72,791 0.43 44,000 Taiwan Semiconductor Manufacturing 265,614 301,577 1.80 Company Limited 1,357,267 1,527,033 9.11 Thailand 311,200 AP (Thailand) pcl 60,722 74,205 0.44 1,000 Asia Plus Group Holdings Public 103 107 0.00 Company Limited 2,300 Kang Yong Electric pcl 35,330 36,020 0.21 188,500 Supalai pcl 116,432 144,276 0.86 212,587 254,608 1.51 Equities Total 14,150,567 15,643,107 93.34 111 MANULIFE GLOBAL FUND

ASIA VALUE DIVIDEND EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Warrants Equity Malaysia Singapore 53,250 Mah Sing Group Bhd Wts 21/Feb/2020 Str.2.10 35,860 Ezion Holdings Limited Wts 24/Apr/2020 Str.0.45 0 1,736 0.01 0 1,736 0.01 0 860 0.01 0 860 0.01 Warrants Equity Total 0 2,596 0.02 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 14,150,567 15,645,703 93.36 Portfolio of Investments 14,150,567 15,645,703 93.36 Other Net Assets 1,113,048 6.64 Net Assets 16,758,751 100.00 ** The security is valued with the off-shore FX rate of CNH (refer to note 2.2 on page 254) (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 112

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 2016 TO 30 JUNE 2017* Asia Value Dividend Equity Fund Class AA +22.68% Asia Value Dividend Equity Fund Class AA Inc +22.69% MSCI AC Far East Free ex-japan Index +28.18% PORTFOLIO REVIEW The sub-fund rose 22.7% in the year ended 30 June 2017. For reference, the MSCI Far East (ex-japan) Index returned 28.2% over the corresponding period. On a long-term basis, the portfolio delivered an annualized return of 8.9% since inception, compared with 8.1% of the MSCI AC Far East (ex-japan) Index in the same period (both returns are net of fees and are in USD term). During the year, the position in a Korean leading technology hardware company continued to be one of the key contributors supported by significant earnings upward revision in 2017. The sub-fund s portfolio manager continues to hold the position on the belief that its leading position in dynamic randomaccess memory (DRAM), negative-and (NAND) and organic light-emitting diode (OLED) products offer strong growth drivers for the company s revenue. Meanwhile, the holding in a leading Chinese property developer was also among the top performance contributors. Despite continued tightening measures in the property space, the company exhibited strong sales (200% year-on-year sales growth for the month of May 2017) and balance sheet management with a below-industry average net gearing of 54% as of end 2016. The company also lifted payout ratio from 25% to 30% which supported the sub-fund s dividend thesis. On the flip side, our underweight in the technology sector (average portfolio weight: 14.17%; average index weight: 29.13%), in particular internet stocks, weighed on portfolio performance during the year. The sector has surged remarkably in the period on strong earnings growth and was the key performance contributor for the benchmark Index. However, since internet stocks generally trade at high multiples and pay almost zero dividend, they do not align with the sub-fund s high-dividend theme. Therefore, the portfolio manager assigned a lower-than-index weighting to internet stocks to maintain a stable stream of dividend income. Meanwhile, as the market targeted their attention on internet stocks, many sectors were left underappreciated, creating compelling investment opportunities for value investors. A good example was the consumer sector: in the first half of 2017, three of the sub-fund s holdings in the consumer sector were privatized, which showed that private equities funds were also out looking for undervalued opportunities. It is expected that these companies might be re-listed in a few years at a much higher valuation. MARKET REVIEW In the Chinese market, signs of confidence are returning in the year under review. The first-quarter macro data of 2017 continued to show that the world s second-largest economy is gaining momentum with benign inflation pressure. Activity in China s manufacturing sector picked up further in March 2017 with the official Purchasing Managers Index ( PMI ) rose for the second consecutive month to 51.8, the highest since April 2012, supported by China s increased efforts in providing fiscal stimulus which started in 2016, as well as improving domestic and export demand. * 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

ASIA VALUE DIVIDEND EQUITY FUND In the second quarter of 2017, a series of encouraging macro data signalled further stabilization in China s economy. The official manufacturing PMI stayed in expansionary territory in June for the 11th consecutive month while export surprised on the upside on the back of global trade recovery, rising 8.7% in May in USD terms. Meanwhile, China s retail sales grew 10.7% from a year earlier in May 2017, reflecting the continuous progress in China s shift towards a consumption-driven economy. At the policy front, the Beijing government has made steady progress in pushing ahead supply-side reforms, while stability was once again highlighted as a top policy priority for 2017 at the Politburo meeting. Positive messages were also delivered at the National People s Congress ( NPC ) in March 2017. Presenting the government work report at the NPC, Premier Li Keqiang noted that growth stability and currency stability are the top priorities for the year. Amid the transition from a pro-growth stance in 2016 to growth stability in 2017, China set its growth target for 2017 at a more reasonable level at 6.5% and the sub-fund s portfolio manager believes this is achievable. With the recent macro improvement, this has also created more room for policymakers to tackle financial excesses and overcapacity. Against this backdrop, China is expected to maintain a more prudent monetary policy and will focus on risk control measures, such as financial regulation strengthening and the speed up of supply-side reform. While deleveraging will constrain liquidity in the market, it is believed that these initiatives are positive to China over the long run. In the Asia ex-japan market, dividend pay-outs have been on the rise underpinned by Asian companies stronger financial position and returning earnings growth. The market extended its strength in the second quarter of 2017 with an 8.3% return in the MSCI Asia ex Japan Index ( the Index ) while in the high dividend space, the MSCI Asia ex Japan High Dividend Yield Index was up 5.6%. Year-to-date as at 30 June 2017, the two indices gained 22.8% and 17.6%, respectively. The strong performance was underpinned by broad-based earnings upward revisions and external demand recovery within the region. In South Korea, stockmarket bounced to fresh record highs in the second quarter of 2017 amid a recovering economic cycle, robust exports and better sentiment at households and businesses. On the macro front, the Nikkei South Korea Manufacturing Purchasing Managers Index (PMI) entered expansionary territory for the first time in 11 months in June while export extended an uptrend for the eighth month in a row by expanding 13.7% year-on-year. During the quarter, Samsung Electronics has announced a positive shareholder return policy, which further supported its rerating potential in addition to its strong fundamentals. In the medium term, other Korean corporations may follow this positive exemplary change and potentially narrow the valuation discount in the Korea market within the region. In ASEAN where market performance is lagging within the Asia region, there are positive signs of economic recovery with gross domestic product (GDP) accelerating in the first quarter of 2017 (4.7% year-on-year growth versus 4.5% in the fourth quarter of 2016). Both Malaysia and Thailand s firstquarter 2017 GDP growth beat consensus expectation in the second quarter of 2017. Despite the relatively rich valuations, the sub-fund s portfolio manager turned more positive on the financial sector in selective ASEAN markets, such as banks in Indonesian and the Philippines, as these two markets offer secular strong loan growth of over 10% and valuations are attractive with a price-to-book ratio of 1.5 times. OUTLOOK Looking forward to the second half of the year, the portfolio manager remains constructive on Asia ex Japan equities despite their strong market performance in the first half. With the latest consensus 2017 estimated earnings growth of 18.1% for the MSCI Asia ex Japan Index (versus 13.2% in January), the portfolio manager expects the region s earnings growth will continue to be the fundamental driver. This, together with improvement in cashflow generation, is supportive for dividend growth within the region. Although the 12-month forward price-to-earnings (P/E) ratio of the MSCI Asia ex Japan index has normalized to 12.9 times, it is still trading at an attractive level relative to developed markets and most emerging countries. MANULIFE GLOBAL FUND 114

ASIAN EQUITY FUND Portfolio of Investments as at 30 June 2017 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 181,410 QBE Insurance Group Limited 1,531,756 1,647,117 1.25 1,531,756 1,647,117 1.25 Bermuda 1,220,000 Brilliance China Automotive Holdings Limited 2,185,148 2,222,365 1.69 2,185,148 2,222,365 1.69 Cayman Islands 61,456 Alibaba Group Holding Limited 5,835,430 8,631,495 6.55 184,800 Gourmet Master Company Limited 1,695,828 1,992,578 1.51 868,000 Longfor Properties Company Limited 1,493,958 1,865,810 1.42 154,000 Tencent Holdings Limited 2,876,306 5,507,976 4.18 11,901,522 17,997,859 13.66 China 7,181,000 Bank of China Limited H 3,593,408 3,523,219 2.68 2,740,000 China Petroleum & Chemical Corp. 2,230,464 2,137,587 1.63 1,447,000 China Railway Construction Corp. Limited 1,625,726 1,887,001 1.43 2,402,000 China South Locomotive and 2,311,111 2,160,061 1.64 Rolling Stock Corp. 298,976 Hangzhou Hikvision Digital Technology 1,063,335 1,423,547 1.08 Company Limited ** 632,000 Ping An Insurance Group Company of 3,374,373 4,165,417 3.16 China Limited 394,651 Saic Motor Corp. A ** 1,761,907 1,806,374 1.37 15,960,324 17,103,206 12.99 Hong Kong 387,800 AIA Group Limited 2,132,621 2,834,127 2.15 132,200 Asm Pacific Technology Limited 1,291,849 1,786,651 1.36 609,000 BOC Hong Kong Holdings Limited 2,327,720 2,913,827 2.21 532,000 Galaxy Entertainment Group Limited 2,094,361 3,230,322 2.46 1,344,000 Guangdong Investment Limited 2,020,357 1,852,539 1.41 716,000 Techtronic Industries Company 2,811,398 3,292,785 2.50 12,678,306 15,910,251 12.09 India 80,014 Grasim Industries Limited 1,405,216 1,537,591 1.17 71,515 Hdfc Bank Limited 1,514,901 1,827,842 1.39 166,126 Hindustan Lever Limited 2,246,738 2,774,718 2.11 317,808 Icici Prudential Life Insurance Company 1,833,895 2,318,766 1.76 29,848 Maruti Suzuki India Limited 1,882,431 3,332,931 2.53 185,477 Sobha Developers Limited 1,144,566 1,057,129 0.80 10,027,747 12,848,977 9.76 115 MANULIFE GLOBAL FUND

ASIAN EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Indonesia 19,881,000 Ciputra Development Tbk PT 1,937,116 1,745,256 1.32 4,033,000 Indofood Sukses Makmur Tbk Pt 2,176,387 2,602,326 1.97 8,081,000 Perusahaan Perkebunan London Sumatra 984,739 830,655 0.63 Indonesia Tbk 6,208,100 Telekomunikasi Indonesia Tbk Pt 1,757,851 2,105,388 1.60 35,102,200 Total Bangun Persada Tbk PT 1,930,412 1,948,952 1.48 8,786,505 9,232,577 7.00 Malaysia 1,413,000 Genting Malaysia Bhd 1,602,911 1,810,418 1.37 1,602,911 1,810,418 1.37 Philippines 10,096,000 Bloomberry Resorts Corp. 1,853,026 1,850,763 1.40 1,853,026 1,850,763 1.40 Republic of Korea (South) 2,975 Amorepacific Corp. 987,163 790,455 0.60 9,668 E-Mart Company Limited 1,783,099 1,981,508 1.50 19,280 Hyundai Motor Company Limited 2,445,249 2,687,721 2.04 43,466 KB Financial Group Inc. 1,740,770 2,192,007 1.66 7,510 Mando Corp. 1,716,081 1,690,182 1.28 2,560 Medy-Tox Inc. 1,130,742 1,252,981 0.95 7,790 Posco Company Limited 1,800,051 1,954,050 1.48 5,385 Samsung Electronics Company Limited 5,785,665 11,187,456 8.48 17,388,820 23,736,360 17.99 Singapore 603,000 Capitaland Limited 1,585,618 1,533,293 1.16 201,200 Venture Corp. Limited 1,223,027 1,761,387 1.34 2,808,645 3,294,680 2.50 Taiwan 1,828,000 China Life Insurance Company Limited 1,724,719 1,820,783 1.38 1 FLEXium Interconnect Inc. 3 4 0.00 969,000 Hon Hai Precision Industry Company Limited 3,235,832 3,726,910 2.83 161,000 President Chain Store Corp. 1,420,620 1,447,513 1.10 632,000 Taiwan Paiho Limited 1,978,955 2,378,822 1.81 1,262,000 Taiwan Semiconductor Manufacturing 5,829,207 8,649,774 6.56 Company Limited 14,189,336 18,023,806 13.68 Thailand 136,000 PTT pcl nvdr NVDR 1,390,638 1,481,320 1.12 1,390,638 1,481,320 1.12 United Kingdom 298,000 HSBC Holdings plc 2,468,092 2,773,370 2.10 2,468,092 2,773,370 2.10 Equities Total 104,772,776 129,933,069 98.60 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 104,772,776 129,933,069 98.60 MANULIFE GLOBAL FUND 116

ASIAN EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets 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 105,143,608 129,933,069 98.60 Other Net Assets 1,845,417 1.40 Net Assets 131,778,486 100.00 ** The security is valued with the off-shore FX rate of CNH (refer to note 2.2 on page 254) 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. 117 MANULIFE GLOBAL FUND

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 2016 TO 30 JUNE 2017* Asian Equity Fund Class A +19.06% Asian Equity Fund Class AA +18.76% Asian Equity Fund Class I +19.54% Asian Equity Custom Benchmark +27.06% PERFORMANCE FROM 13 SEPTEMBER 2016 TO 30 JUNE 2017 Asian Equity Fund Class I3 +14.43% PORTFOLIO REVIEW Stock selection in South Korea, Taiwan, and China negatively impacted performance. However, this was partly offset by stock selection in India, Malaysia, and the underweight in Malaysia. The top contributor was a South Korean semiconductor and smartphone maker which consistently reported better-than-expected quarterly earnings driven by the semiconductor business. Furthermore, the unveiling of its highly anticipated new smartphone models and its announcement to cancel treasury shares were well-received by the market. Another contributor was an Indian automobile manufacturer which consistently exhibited strong volume growth throughout the period in review. The sub-fund s portfolio manager (PM) expects the company to maintain its dominant position driven by its improving product mix and the country s strong domestic consumption. The main detractor was a South Korean cosmetics and skincare producer on the back of China s travel ban of South Korea considering geopolitical tensions. The PM expects South Korea-China relations to improve, and its global expansion plans to push through for the remainder of the year. A Hong Konglisted Chinese utilities operator negatively impacted performance due to a general lack of interest on the defensive high yield sector and its plans of an acquisition which was considered expensive by investors. The company s good fundamentals remain intact as it generates a steady cash flow and income stream, and consistently delivers a decent dividend yield to shareholders. From a sector perspective, the key detractors were stock selection in financials, industrials, and real estate. However, stock selection in information technology and consumer discretionary, the overweight in information technology, and underweight in utilities contributed positively to performance. MARKET REVIEW Asia ex Japan equities had a strong start during the period in review due to companies reporting mostly better-than-expected earnings during the third quarter reporting season. By the latter part of 2016, Asian markets reacted negatively to the strengthening dollar and higher bond yields post Donald Trump s victory, which raised several concerns on the impact of his campaign platforms to inflation and the future path of the Fed hiking cycle, as well on the future trade relations between the US and Asian economies. During the first half of 2017, strong positive sentiment buoyed the Asian markets due to the notable improvement in economic data across the region as well as on improved earnings outlook. Despite the Fed hiking policy rates thrice by 25 basis points (bps) each in December, March, and June to 1.25%, the central bank maintained a dovish outlook on the tightening cycle. Oil prices were volatile as Organization of the Petroleum Exporting Countries (OPEC) and non-opec members decision to extend their production cut was offset by mounting concerns on weak demand and a supply glut. * 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 118

ASIAN EQUITY FUND China s first quarter GDP grew faster than expected at 6.9% year-on-year (relative to consensus estimates of 6.8%) due to robust infrastructure spending and the rising property market. In June, MSCI announced the inclusion of the country s A-shares in their global equity indices in two phases starting May 2018; it is a vote of confidence for China to further financial reforms and develop capital markets. The country s sovereign credit rating was downgraded by Moody s in May by one notch (to A1) due to expectations of a worsening debt situation along with slowing growth. However, its rating outlook was upgraded to stable from negative; investors reaction was muted despite the downgrade. Producer price index (PPI) finally rose from a 55-month deflation in September and recorded eight consecutive months of growth by May; this is supportive of pricing power returning to corporates, as well as an improvement of the banking industry s asset quality. Hong Kong s central bank raised its policy rates thrice by 25bps each in line with the Fed s policy rate move. Moody s also downgraded the state s sovereign credit rating by one notch (to Aa2) given its close economic linkages with China. Retail sales rose from a 2-year long decline in March and remained in positive territory for three consecutive months in May driven by resilient local demand and improving inbound tourism. Taiwan s first quarter GDP growth registered at 2.6% year-on-year due to resilient domestic consumption and robust exports. Exports in May posted its eighth consecutive month of growth on the back of solid demand for machinery, integrated circuits, and base metals. South Korea was the best performing market due to solid first quarter earnings results. First quarter GDP growth was higher than expected at 2.7% year-on-year (relative to consensus estimate of 2.6%) due to better construction investment. Political noise abated with the successful conclusion of the presidential election. Exports in May jumped 13.4% year-on-year, growing for a seventh consecutive month, driven by solid demand for electronics components. Southeast Asian economies posted some of the fastest growth rates in 2016 and during the first quarter of 2017, with a strong recovery in both manufacturing and exports. Indonesia s sovereign credit rating was upgraded by S&P in May by one notch (to BBB-), achieving full investment grade status among the major credit rating agencies. The tax amnesty programme, which was launched last July, has concluded by the end of March, with total government revenue amounting to IDR411 trillion (around US$31 billion) and accounting for around 35% of the estimated budget deficit for the 2017 fiscal year. In October, the Thai King passed away after 70 years of rule. In India, the dominant victory of the ruling party in the most recent state elections was deemed a positive development due to strengthened policy continuity, as well as a bigger scope to push for more reforms and government spending. In May, goods and services tax (GST) rates were announced for most goods, where rates for several sectors were higher than expected; however, consumer staples were kept at the lowest tax bracket. In November, the government demonetised high-value currency notes (INR500 and INR1,000) to address black money and corruption. Australia s GDP in the first quarter grew 1.7% year-on-year, which was slower than the previous quarter s growth at 2.4% but better than market estimate of 1.6% given soft household spending and the drag in net trade. The Reserve Bank of Australia (RBA) cut its benchmark rate by 25bps to 1.5% in August, as inflation remains well below its target range. OUTLOOK Following a long rally streak across markets, the PM expects stock selection to take centre stage going forward. Companies with clear and sustainable earnings trends that are trading on reasonable valuations are expected to outperform value cyclical stocks. In China, the PM managed to find compelling opportunities through the Shanghai and Shenzhen connect platform. The PM s focus is to invest in companies with a strong brand presence and that possess a dominant market share both locally and internationally. These companies also generate strong cash flow and deliver consistent dividend growth over the years. More importantly, valuations remain reasonable relative to their growth profile. The PM has also identified the mobilisation of China s Belt and Road Initiatives as an opportunity. The PM believes that key leading state-owned enterprises will benefit from China s initiative to spread economic development across developing nations. 119 MANULIFE GLOBAL FUND

ASIAN EQUITY FUND South Korea is gaining more attention from the investment community as the country concluded its presidential election. The market widely expects the new administration to implement wider economic reforms and improve corporate governance of South Korean companies. Corporate earnings are also expected to improve on the back of strong exports as well as recovery in domestic consumption. Valuations remain attractive and the market has the potential to rerate as companies embark on investor friendly capital management initiatives. For India, the PM believes that future earnings growth momentum will be driven by increased formalisation of the domestic economy; and greater government spending and enhanced rural productivity due to targeted government spending. Furthermore, household s financial savings are expected to grow due to the formalisation of the economy. The PM expects these savings will largely be allocated to equities over the next few years due to current underinvestment in equities and prospects of better tax-adjusted returns relative to other asset classes. The projected inflow of funds should be supportive of the equity market. Standard & Poor s finally assigned an investment grade to Indonesia s sovereign credit rating. This should enable the inflows of pent up foreign investments into the country in due course. The PM sees this as a positive development for the country. The economy is gradually feeling the positive impact from past economic reforms. The current account balance and foreign currency reserves continue to improve, and the Finance Minister has fortified the country s fiscal position by planning a reasonable budget and strictly enforced tax reform initiatives. The PM believes the potential of the country and economy remain under-appreciated, and believes this market has a strong upside potential once the impact from the improvement in the economy trickles down to corporate earnings. MANULIFE GLOBAL FUND 120

ASIAN SMALL CAP EQUITY FUND Portfolio of Investments as at 30 June 2017 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 244,749 Altium Limited 1,361,787 1,612,557 0.56 126,000 Aristocrat Leisure Limited 1,449,259 2,185,360 0.77 1,804,695 Ausdrill Limited 2,264,035 2,545,969 0.88 1,000,000 Aveo Group 2,160,370 2,137,264 0.74 222,624 Brickworks Limited 2,384,016 2,360,204 0.82 2,150,000 Cleanaway Waste Management Limited 1,811,419 2,272,765 0.79 164,000 Corporate Travel Management Limited 2,726,885 2,892,349 1.01 664,000 Costa Group Holdings Limited 2,149,858 2,475,844 0.86 600,000 Futuris Corp. Limited 2,253,566 2,467,848 0.86 446,000 Iluka Resources Limited 2,582,187 2,976,241 1.04 335,000 Link Administration Holdings Limited 2,030,054 2,034,629 0.70 2,209,376 Mesoblast Limited 3,264,198 3,533,022 1.23 340,000 Mineral Resources Limited 2,824,261 2,836,103 0.99 506,401 Nanosonics Limited 1,132,585 988,876 0.34 550,942 Nextdc Limited 1,605,926 1,910,275 0.66 2,000,000 Nine Entertainment Company 2,137,592 2,121,888 0.74 Holdings Limited 434,233 Pepper Group Limited 1,072,231 1,135,050 0.40 233,247 Smartgroup Corp. Limited 1,209,106 1,285,727 0.45 870,000 Speedcast International Limited 2,513,940 2,555,030 0.89 982,000 Steadfast Group Limited 1,769,266 2,008,198 0.70 1,450,000 Westgold Resources Limited 2,507,300 2,051,158 0.71 43,209,841 46,386,357 16.14 Bermuda 681,500 Johnson Electric Holdings Limited 2,124,385 2,370,236 0.83 2,124,385 2,370,236 0.83 Cayman Islands 260,000 Airtac International Group 2,945,430 3,072,639 1.07 10,794,000 Av Concept Holdings Limited 823,551 1,009,395 0.35 106,000 Baozun Inc. ADR 1,544,684 2,323,520 0.81 56,000 Beigene Limited ADR 2,267,594 2,513,280 0.88 3,134,000 China Lilang Limited 2,179,375 2,087,653 0.73 5,126,000 CIMC Enric Holdings Limited 3,365,611 3,204,456 1.12 6,798,000 Fufeng Group Limited 3,442,435 3,657,517 1.27 284,110 Gourmet Master Company Limited 2,270,345 3,063,372 1.07 3,953,000 Grand Baoxin Auto Group Limited 1,775,164 1,898,952 0.66 995,000 Haitian International Holdings Limited 1,891,570 2,791,407 0.97 101,706 Hutchison China Meditech Limited 1,554,685 2,397,210 0.83 68,000 Momo Inc. 2,622,705 2,501,720 0.87 89,000 Noah Holdings Limited 2,512,820 2,509,799 0.86 1,330,000 Shimao Property Holdings Limited 2,338,964 2,276,219 0.80 144,000 Silergy Corp. 1,984,733 2,773,956 0.96 44,000 Silicon Motion Technology Corp. ADR 2,216,135 2,173,160 0.76 11,016,000 Ten Pao Group Holdings Limited 1,550,892 2,765,896 0.96 4,690,000 Tk Group Holdings Limited 1,061,579 1,910,539 0.67 414,000 Vhq Media Holdings Limited 2,440,097 2,095,851 0.73 1,797,000 Zhongsheng Group Holdings Limited 1,746,280 3,351,702 1.17 42,534,649 50,378,243 17.54 121 MANULIFE GLOBAL FUND

ASIAN SMALL CAP EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets China 419,927 Guangzhou Holike Creative A ** 2,122,122 2,163,485 0.75 1,668,000 Yangtze Optical Fibre & Cable Joint 3,370,104 3,542,717 1.24 Stock Limited H 5,492,226 5,706,202 1.99 Hong Kong 3,424,000 K Wah International Holdings Limited 1,906,756 2,079,065 0.72 936,500 Kingboard Chemical Holdings Limited 2,886,221 3,730,990 1.30 2,051,000 Kingboard Laminates Holdings Limited 2,232,052 2,474,984 0.86 2,400,000 Lee & Man Paper Manufacturing Limited 2,245,129 2,228,975 0.78 991,000 Luk Fook Holdings International Limited 2,900,246 3,389,540 1.18 4,100,000 Man Wah Holdings Limited 3,589,601 3,681,779 1.27 1,612,000 Road King Infrastructure Limited 2,228,097 1,990,664 0.69 4,158,000 Xinyi Glass Holdings Limited 3,365,912 4,117,370 1.43 21,354,014 23,693,367 8.23 India 66,000 Aditya Birla Nuvo Limited 1,751,043 1,898,403 0.66 325,000 Arvind Mills Limited 1,831,980 1,809,353 0.63 187,708 Bata India Limited 1,245,612 1,560,190 0.54 411,405 Brigade Enterprises Limited 1,541,985 1,644,676 0.57 1,090,000 Chambal Fertilizers & Chemicals Limited 2,154,415 1,978,919 0.69 240,000 Dewan Housing Finance Corp. Limited 1,074,798 1,623,341 0.57 168,000 Escorts Limited 1,358,597 1,676,827 0.58 108,000 Indiabulls Housing Finance 1,866,784 1,798,105 0.63 600,000 JM Financial Limited 1,185,802 1,090,706 0.38 190,000 Kajaria Ceramics Limited 2,205,645 1,955,790 0.68 756,000 Lakshmi Vilas Bank Limited 2,337,156 2,333,368 0.81 1,170,000 Manappuram Gen Finance & Leasing 1,708,870 1,773,000 0.62 901,987 Mangalore Refinery & Petrochemicals Limited 1,282,996 1,650,136 0.57 141,992 PI Industries Limited 1,458,752 1,839,785 0.64 52,000 Pvr Limited 777,413 1,133,167 0.39 1,597,777 Trident Limited 1,393,104 1,818,098 0.63 272,725 VA Tech Wabag Limited 2,248,423 2,905,851 1.01 1,500,000 Welspun India Limited 2,052,334 1,919,177 0.67 29,475,709 32,408,892 11.27 Indonesia 8,800,000 Bank Tabungan Negara Persero Tbk Pt 1,785,394 1,716,686 0.60 110,558,600 Bekasi Fajar Industrial Estate Tbk PT 2,701,668 2,704,239 0.95 1,000,000 Ciputra Development Tbk PT 82,905 87,785 0.03 1,396,600 Indo Tambangraya Megah PT 1,878,774 1,812,813 0.63 5,525,900 Medco Energi International Tbk PT 575,021 949,453 0.33 3,751,300 Mitra Adiperkasa Tbk PT 1,754,336 1,913,928 0.67 92,933,200 Panin Life Tbk PT 1,500,973 1,631,630 0.57 10,279,071 10,816,534 3.78 Malaysia 3,080,000 Airasia Bhd 1,756,175 2,331,890 0.81 6,001,000 Inari Amertron Bhd 2,330,915 2,949,714 1.02 4,044,850 My Eg Services Bhd 1,383,924 2,063,576 0.72 5,471,014 7,345,180 2.55 MANULIFE GLOBAL FUND 122

ASIAN SMALL CAP EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets New Zealand 254,825 Fisher & Paykel Healthcare Corp. 1,642,937 2,137,395 0.74 870,000 Tourism Holdings Limited 2,340,529 2,676,738 0.93 3,983,466 4,814,133 1.67 Philippines 7,400,000 Bloomberry Resorts Corp. 1,478,479 1,356,542 0.47 12,169,900 Metro Pacific Investments Corp. 1,512,523 1,541,160 0.54 2,991,002 2,897,702 1.01 Republic of Korea (South) 98,432 Amotech Company Limited 2,494,638 2,413,157 0.84 156,442 Autech Corp. 1,621,044 1,968,939 0.69 124,200 Dongbu Hitek Company Limited 2,265,609 2,442,421 0.85 23,081 F&F Company Limited 596,437 556,775 0.19 5,600 Hugel Inc. 2,068,294 2,738,448 0.95 109,552 ISC Company Limited 1,378,398 2,293,202 0.80 160,000 Jusung Engineering Company Limited 1,432,676 1,901,846 0.66 57,000 Koh Young Technology Inc. 2,851,671 2,989,114 1.04 38,000 LS Industrial Systems Company Limited 1,609,882 1,853,251 0.65 7,500 Medy-Tox Inc. 2,405,731 3,670,842 1.28 550,000 Meritz Securities Company Limited 2,349,483 2,432,370 0.85 21,854 Philoptics Company Limited 988,705 1,025,703 0.36 160,000 Posco 2,179,575 2,146,569 0.75 82,000 Samjin Pharmaceutical Company Limited 2,371,907 2,365,071 0.82 52,830 SFA Engineering Corp. 2,068,097 2,075,519 0.72 13,000 Shinsegae Company Limited 2,781,182 2,607,609 0.91 49,200 Soulbrain Company Limited 2,756,893 3,199,296 1.11 80,000 Tes Company Limited 1,840,396 1,975,263 0.69 439,589 Vitzrocell Company Limited 3,517,340 5,570,976 1.94 11,300 Yuhan Corp. 2,365,473 2,429,573 0.85 41,943,431 48,655,944 16.95 Singapore 294,000 Venture Corp. Limited 2,045,955 2,573,796 0.90 Taiwan 2,045,955 2,573,796 0.90 842,000 Accton Technology Corp. 1,987,000 2,147,896 0.75 3,410,000 Alpha Networks Inc. 2,640,566 3,116,295 1.08 704,000 Chroma ATE Inc. 2,165,098 2,267,974 0.79 381,000 Ctci Corp. 646,199 648,775 0.23 1 Cub Elecparts Inc. 0 13 0.00 1,000,000 FDC International Hotels Corporation 2,419,036 2,238,651 0.78 460,000 Materials Analysis Technology Inc. 1,793,924 1,890,198 0.66 2,148,304 Mitac Holdings Corp. 1,919,771 2,743,634 0.96 622,000 Nanya Technology Corp. 1,001,969 1,120,496 0.39 2,029,000 Sunonwealth Electric Machine 2,689,699 2,621,283 0.91 4,808,000 Tyntek Corp. 2,402,438 2,331,287 0.81 763,000 Wistron NeWeb Corp. 2,258,351 2,272,438 0.79 575,000 Yageo Corp. 1,236,964 2,003,609 0.70 23,161,015 25,402,549 8.85 123 MANULIFE GLOBAL FUND

ASIAN SMALL CAP EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Thailand 1,190,000 Hana Microelectronics pcl 1,543,248 1,760,319 0.61 3,543,750 Siam Global House pcl 1,437,535 1,512,653 0.53 4,000,000 Star Petroleum Refining pcl 1,712,456 1,719,179 0.60 3,660,000 Tipco Asphalt pcl NVDR 2,616,045 2,434,994 0.85 7,309,284 7,427,145 2.59 United States 603,092 Magnachip Semiconductor Corp. 3,026,995 5,865,069 2.03 3,026,995 5,865,069 2.03 Equities Total 244,402,057 276,741,349 96.33 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 244,402,057 276,741,349 96.33 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 245,529,979 276,741,349 96.33 Other Net Assets 10,530,172 3.67 Net Assets 287,271,521 100.00 ** The security is valued with the off-shore FX rate of CNH (refer to note 2.2 on page 254) 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 124

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 2016 TO 30 JUNE 2017* Asian Small Cap Equity Fund Class AA +13.77% Asian Small Cap Equity Fund Class AA (HKD) +13.75% Asian Small Cap Equity Fund Class I +14.55% MSCI Asia Pacific ex-japan Small Cap Index +15.75% PORTFOLIO REVIEW As experienced historically, one of the main catalysts for the sub-fund has been strong earnings results and positive earnings revisions. Thus far in 2017, the sub-fund s portfolio manager (PM) has seen robust performance of growth and earnings momentum, which underlies factors that characterise the subfund and is reflective of the improving Asian economic environment. Conversely, the latter half of 2016 witnessed the outperformance of value and underperformance of growth and small cap equities. During significant market declines, less liquid small cap equities typically underperform as occurred in Asia following the US presidential election in November, as investors particularly feared the potential adoption of trade policies that would be negative for Asia. Throughout the 12-month period, the subfund s performance benefitted from strong corporate earnings results, and positive earnings revisions from analysts. Stock selection was the largest positive contributor to outperformance, led by China, Indonesia, and South Korea. Although Malaysia was a small part of the portfolio, stock selection there contributed strongly. Overall, the sub-fund s overweight and stock selection in technology and consumer discretionary in 2017 was a significant positive contributor for the period under review. The sub-fund s Hong Kong-listed Chinese holdings generated very strong performance from the consumer discretionary, industrials, and information technology sectors. Several of the sub-fund s technology holdings have benefitted from various earnings drivers, including technology migration, dual cameras on smartphones, new customer additions, and improved product pricing. Near the end of 2016, the PM made a tactical change and increased the sub-fund s South Korean weighting. South Korea was the worst performing small cap market in Asia in 2016 due to some forced selling on the part of domestic institutions and higher valuations than the large cap companies. However, valuations at that time reached levels not seen in over a year. In the PM s meetings with companies, the PM identified an inflection point in earnings for 2017. Since then, flows have returned to the small cap Kosdaq names and earnings have continued to strengthen. The technology companies in that market are seeing a pull-in in orders from their local industry-leading companies, as demand for products including 3D NAND, DRAM, and AMOLED has surpassed expectations. The largest contributor to performance is one of the sub-fund s larger positions, a US-listed South Korean semiconductor manufacturer. Global capacity for its semiconductor foundry capacity is extremely tight, and gross margin and cash flow are markedly improving. Its advanced technology component supplied to the world s largest manufacturer of Organic Light-Emitting Diode (OLED) displays for smartphone brands will be a key driver for earnings in the second half of 2017. The leading botox producers in the market also performed strongly on the back of better-than-expected industry demand. * 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. 125 MANULIFE GLOBAL FUND

ASIAN SMALL CAP EQUITY FUND This is the first year in seven where the sub-fund underperformed in Taiwan, primarily due to technology performance in the second half of 2016. In the latter part of 2016, investors took profit on several outperforming small cap equities in this market. However, a turnaround took place in the first half of 2017 with strong outperformance coming from both the materials and technology sectors, as well as certain non-technology sectors. The underweight and stock selection in Australia detracted from performance in the latter half of 2016. During this period, several small cap equities in that market experienced sharp price declines due to redemptions from domestic small cap funds as well as some manager changes at these funds. The subfund s holdings were not spared from these technical selling pressures. The sub-fund s performance in India also lagged the market. Several holdings were hit hard by demonetisation, particularly in consumer discretionary and financials, and trailed the market in the upturn. MARKET REVIEW Asia Pacific ex Japan small equities had a strong start during the period in review due to companies reporting mostly better-than-expected earnings during the third quarter reporting season. By the latter part of 2016, Asian markets reacted negatively to the strengthening dollar and higher bond yields post Donald Trump s victory. Investors became concerned that Trump s campaign promises would lead to inflation and a higher trajectory of Fed interest rate increases. There was also uncertainty regarding trade relations between US and the Asian economies. During the first half of 2017, strong positive sentiment buoyed the Asian markets due to the notable improvement in economic data across the region as well as on improved first quarter earnings. Foreign investor flows to regional equities picked up markedly. Despite the Fed hiking policy rates by 25bps each in December 2016, March 2017, and June 2017, the central bank maintained a dovish outlook on the tightening cycle. China s growth remained strong over the reported period, meeting or beating consensus estimates for the past six quarters. China s first and second quarter GDP grew by a faster-than-expected 6.9% yearon-year due to robust infrastructure spending and the rising property market. In June, MSCI announced the inclusion of the country s A-shares in their global equity indices starting in June 2018; it is a vote of confidence for China to further financial reforms and develop capital markets. Producer price index (PPI) rose from a 55-month deflation in September 2016 and recorded eight consecutive months of growth by May; this is supportive of pricing power returning to corporates, as experienced by a number of the Chinese industrial and material companies in the subfund. Hong Kong s central bank raised its policy rates thrice by 25bps each in line with the Fed s policy rate move. Retail sales rose from a 2-year long decline in March and remained in positive territory for three consecutive months in May driven by resilient local demand and improving inbound tourism. Taiwan s first quarter GDP growth registered at 2.6% year-on-year due to resilient domestic consumption and robust exports. Exports in May posted its eighth consecutive month of growth on the back of solid demand for machinery, integrated circuits, and base metals. South Korea first quarter GDP growth was higher than expected at 2.7% year-on-year (relative to consensus estimate of 2.6%) due to better construction investment. Political noise abated with the successful conclusion of the presidential election. Exports in May jumped 13.4% year-on-year, growing for a seventh consecutive month, driven by solid demand for electronics components. Southeast Asian economies posted some of the fastest growth rates in 2016 and during the first quarter of 2017, with a strong recovery in both manufacturing and exports. Indonesia s sovereign credit rating was upgraded by S&P in May by one notch (to BBB-), achieving full investment grade status among the major credit rating agencies. MANULIFE GLOBAL FUND 126

ASIAN SMALL CAP EQUITY FUND In India, the dominant victory of the ruling party in the most recent state elections was deemed a positive development due to strengthened policy continuity, as well as a bigger scope to push for more reforms and government spending. In May, goods and services tax (GST) rates were announced for most goods, where rates for several sectors were higher than expected; however, consumer staples were kept at the lowest tax bracket. In November, the government demonetised high-value currency notes (INR500 and INR1,000) to address black money and corruption. Australia s GDP in the first quarter grew 1.7% year-on-year, which was slower than the previous quarter s growth at 2.4% but better than market estimate of 1.6% given soft household spending and the drag in net trade. The Reserve Bank of Australia (RBA) cut its benchmark rate by 25bps to 1.5% in August, as inflation remains well below its target range. OUTLOOK Following the strong performance of the Asian markets year to date, the PM expects some consolidation in the short-term. Nevertheless, the PM remains positive because several companies are reporting better-than-expected earnings, and flows continue returning to the region. The Asian region has seen improved earnings revisions every month for the past ten months, a situation not seen in the previous five years of earnings downgrades. The weaker US dollar provides a positive backdrop for the region, as does the export recovery and improvement in purchasing manager indices (PMIs) throughout the region. The PM s company visits in many cases indicate that this positive growth will sustain well into 2018. As a result, the PM will remain highly constructive on the region. 127 MANULIFE GLOBAL FUND

CHINA VALUE FUND Portfolio of Investments as at 30 June 2017 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 2,652,000 Brilliance China Automotive Holdings Limited 4,496,775 4,830,910 0.56 19,698,000 CGN Meiya Power Holdings 4,344,272 2,699,988 0.32 Company Limited 571,000 Ck Infrastructure Holdings 5,059,618 4,798,394 0.56 6,764,000 Haitong International Securities 3,673,362 3,994,482 0.47 Group Limited 6,107,500 Luye Pharma Group Limited 5,785,112 3,348,599 0.39 65,900 Vtech Holdings Limited 833,098 1,044,266 0.12 24,192,237 20,716,639 2.42 Cayman Islands 395,000 3SBio Inc. 436,455 524,219 0.06 296,894 Alibaba Group Holding Limited 30,878,473 41,698,762 4.88 2,033,440 Cheung Kong Property Holdings Limited 9,493,934 15,928,824 1.86 1,298,000 China Mengniu Dairy Company Limited 2,587,728 2,544,029 0.30 2,849,555 China Resources Land Limited 7,033,547 8,304,517 0.97 800,940 CK Hutchison Holdings Limited 7,238,355 10,054,998 1.18 159,179 Fanhua Inc. 1,346,144 1,388,041 0.16 1,432,500 HKBN Limited 1,814,056 1,433,182 0.17 2,166,000 HKT Limited 2,833,260 2,841,282 0.33 438,500 Lifestyle International Holdings Limited 681,218 602,172 0.07 2,600,400 Mgm China Holdings Limited 5,254,008 5,782,901 0.68 67,432 New Oriental Education & Technology 4,238,945 4,753,956 0.56 Group ADR 16,916,500 Real Gold Mining Limited a 27,921,022 866,815 0.10 1,227,200 Sands China Limited 4,844,975 5,620,142 0.66 4,471,000 Shimao Property Holdings Limited 9,557,588 7,651,860 0.90 2,127,400 Tencent Holdings Limited 37,530,018 76,088,756 8.91 300,000 Vipshop Holdings Limited 3,921,600 3,153,000 0.37 3,639,500 WH Group Limited 2,792,351 3,673,871 0.43 160,403,677 192,911,327 22.59 China 881,715 Anhui Gujing Distillery Company B 3,032,838 3,807,526 0.45 46,756,000 Bank of China Limited H 21,431,285 22,939,927 2.69 9,568,000 BBMG Corp. 4,354,367 4,829,179 0.57 123,162 Changyou.com Limited ADR 3,539,151 4,723,263 0.55 10,822,000 China Communications Services 5,419,110 6,238,439 0.73 Corp. Limited H 29,959,000 China Construction Bank Corp. 22,735,122 23,218,738 2.72 3,200,000 China Eastern Airlines Corp. Limited 1,911,523 1,975,845 0.23 3,521,000 China Life Insurance Company Limited H 11,243,015 10,757,474 1.26 5,172,000 China Longyuan Power Group Corp. 5,605,002 3,763,247 0.44 3,021,500 China Merchants Bank Company Limited H 7,234,234 9,115,268 1.07 MANULIFE GLOBAL FUND 128

CHINA VALUE FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets China (continued) 1,475,577 China National Accord Medicines 3,961,785 8,593,048 1.01 Corp. Limited 8,856,000 China Petroleum & Chemical Corp. 7,254,555 6,908,930 0.81 3,900,900 China South Locomotive and Rolling 2,365,061 3,507,986 0.41 Stock Corp. 1,137,223 Chongqing Changan Automobile Company 1,117,486 1,500,510 0.18 Limited 2,661,076 Daqin Railway Company Limited A ** 2,954,398 3,291,184 0.39 1,212,000 Fuyao Glass Industry Group H 2,664,880 4,642,263 0.54 5,107,857 Fuyao Glass Industry Group 11,903,260 19,607,063 2.30 Company Limited A ** 3,152,000 Guangshen Railway Company Limited H 1,879,153 1,562,619 0.18 994,000 Guangzhou Pharmaceutical Company Limited 2,880,899 2,731,301 0.32 819,200 Guangzhou R&f Properties Company Limited 1,340,235 1,273,986 0.15 18,306,000 Guodian Technology & Environment Group 4,591,174 1,289,769 0.15 Corp. Limited H 24,856,000 Huaneng Renewables Corp. H 8,712,533 7,673,689 0.89 1,988,200 Huatai Securities Company Limited H 6,360,502 3,820,386 0.45 18,907,160 Industrial & Commercial Bank of China 12,155,886 12,764,177 1.49 1,436,804 Inner Mongolia Yili Industrial Group Company 3,557,274 4,572,808 0.53 Limited A ** 162,282 Kweichow Moutai Company Limited A ** 7,399,823 11,287,744 1.32 4,545,200 New China Life Insurance Company H 15,478,559 23,115,294 2.71 37,304,000 Petrochina Company Limited 39,141,151 22,842,268 2.67 1,131,500 Ping An Insurance Group Company of 5,668,070 7,457,544 0.87 China Limited 3,970,007 Qingdao Haier Company Limited A ** 8,466,856 8,807,661 1.03 850,800 Red Star Macalline Group H 1,011,142 871,913 0.10 672,469 Shanghai Mechanical & Electrical Industry 1,893,558 1,371,164 0.16 Company B 957,100 Shanghai Pharmaceuticals Holding 2,613,509 2,850,599 0.33 Company Limited 3,559,000 Sinotrans Limited 1,720,616 1,823,660 0.21 243,598,012 255,536,472 29.91 129 MANULIFE GLOBAL FUND

CHINA VALUE FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Hong Kong 308,400 Asm Pacific Technology Limited 4,442,996 4,167,952 0.49 3,589,000 BOC Hong Kong Holdings Limited 11,316,727 17,171,964 2.01 5,966,000 China Everbright Limited 11,956,952 12,992,360 1.51 2,246,500 China Mobile Hong Kong Limited 25,063,250 23,842,667 2.79 658,000 China Resources Enterprise Limited 1,761,045 1,660,535 0.19 3,716,647 China Taiping Insurance Holdings 11,157,962 9,417,454 1.10 Company Limited 6,734,000 China Unicom Hong Kong Limited 9,734,886 10,006,611 1.17 5,434,000 CSPC Pharmaceutical Group Limited 3,217,453 7,935,611 0.93 1,120,000 Galaxy Entertainment Group Limited 4,215,966 6,800,680 0.79 204,262 Hong Kong Exchanges and Clearing Limited 5,019,899 5,280,374 0.62 2,644,000 Hutchison Telecommunications Hong Kong 919,193 931,430 0.11 Holdings Limited 39,500 Jardine Matheson Holdings Limited 2,396,786 2,535,900 0.30 79,400 Jardine Strategic Holdings Limited 2,832,272 3,310,186 0.38 281,000 Kerry Properties Limited 988,137 953,912 0.11 5,480,000 Lee & Man Paper Manufacturing Limited 4,832,802 5,089,492 0.60 874,000 Luk Fook Holdings International Limited 2,869,418 2,989,363 0.35 3,698,800 Man Wah Holdings Limited 3,207,709 3,321,504 0.39 3,275,000 New World Development Limited 4,193,938 4,157,582 0.49 3,987,350 Pccw Limited 2,286,958 2,267,897 0.27 9,922,500 Sino-Ocean Land Holdings Limited 7,200,389 4,855,572 0.57 517,500 Smartone Telecommunications 745,348 677,512 0.08 Holding Limited 484,000 Sun Hung Kai Properties Limited 6,258,036 7,111,557 0.83 1,172,400 Swire Properties Limited 3,608,485 3,867,310 0.45 10,433,000 Tao Heung Holdings Limited 3,437,704 2,606,152 0.31 1,590,500 Techtronic Industries Company 6,751,302 7,314,490 0.86 140,415,613 151,266,067 17.70 Luxembourg 566,700 Samsonite International SA 1,929,025 2,366,610 0.28 1,929,025 2,366,610 0.28 Singapore 12,447,760 SIIC Environment Holding Limited 8,014,868 4,702,560 0.55 8,014,868 4,702,560 0.55 Switzerland 117,566 China South Publishing A ** 305,497 323,043 0.04 305,497 323,043 0.04 Taiwan 6,878,600 Cathay Financial Holding Company Limited 10,993,544 11,328,623 1.33 740,000 Chunghwa Telecom Company Limited 2,693,685 2,627,210 0.31 743,000 Ctci Corp. 1,071,434 1,265,196 0.15 1,513,578 Delta Electronics Inc. 9,722,931 8,284,349 0.97 2,730,000 Far Eastone Telecommunications 6,248,743 6,955,105 0.81 Company Limited 332,000 FLEXium Interconnect Inc. 1,233,110 1,249,634 0.15 1,855,000 Formosa Chemicals & Fibre Corp. 4,774,713 5,823,535 0.68 1,151,000 Formosa Plastics Corp. 2,916,466 3,507,473 0.41 4,863,000 Fubon Financial Holding Company Limited 7,887,678 7,745,285 0.91 7,186,644 Hon Hai Precision Industry Company Limited 19,643,699 27,640,846 3.24 MANULIFE GLOBAL FUND 130

CHINA VALUE FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Taiwan (continued) 7,155,000 Inventec Company Limited 5,686,541 5,833,117 0.68 5,800,000 Kinpo Electronics 2,620,017 2,154,496 0.25 136,000 Largan Precision Company Limited 13,237,497 21,683,031 2.54 336,000 MediaTek Inc. 2,719,756 2,877,308 0.34 264,000 Novatek Microelectronics Corp. Limited 894,912 1,067,452 0.12 1,374,000 Pegatron Corp. 4,080,679 4,304,463 0.50 3,475,000 Quanta Computer Inc. 7,314,568 8,224,824 0.97 2,071,000 Taishin Financial Holding Company Limited 858,372 942,908 0.11 9,417,000 Taiwan Semiconductor Manufacturing 38,338,162 64,544,311 7.56 Company Limited 3,012,000 Uni-President Enterprises Corp. 5,646,571 6,039,822 0.71 148,583,078 194,098,988 22.74 United Kingdom 1,607,600 HSBC Holdings plc 13,745,214 14,961,307 1.75 241,300 Standard Chartered Bank 2,434,403 2,429,606 0.28 16,179,617 17,390,913 2.03 Equities Total 743,621,624 839,312,619 98.26 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 743,621,624 839,312,619 98.26 Other transferable securities and money market instruments (2) Equities 1,191,427 0 0.00 Bermuda 7,146,000 Euro-Asia Agricultural Holdings Company Limited a 1,191,427 0 0.00 Hong Kong 8,304,000 Peace Mark Holdings Limited a 661,315 0 0.00 661,315 0 0.00 Equities Total 1,852,742 0 0.00 Total Other transferable securities and money market instruments (2) 1,852,742 0 0.00 Portfolio of Investments 745,474,366 839,312,619 98.26 Other Net Assets 14,826,851 1.74 Net Assets 854,139,470 100.00 ** The security is valued with the off-shore FX rate of CNH (refer to note 2.2 on page 254) 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. 131 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 2016 TO 30 JUNE 2017* China Value Fund Class A +25.27% China Value Fund Class AA +24.96% FTSE All World Greater China Index +27.91% Hang Seng Index +26.98% Hang Seng Red Chips Index +9.81% Hang Seng H Shares Index +21.23% MSCI China Free Index +32.19% PORTFOLIO REVIEW During the year, the sub-fund has gained 25.3% while the FTSE Greater China Index increased by 27.9%, both in USD terms. Since its inception, the portfolio delivered a cumulative return of 988.8% as of end-june 2017, while the FTSE Greater China Index posted a cumulative return of 272.9% over the same period. The sub-fund s holdings in the financial, technology and consumer discretionary sectors were major performance contributors in the period. One of the top holdings in a giant Chinese internet company recorded strong performance, while the core position in a leading e-commerce company also contributed positively as the company announced a better-than-market revenue growth guidance for 2018 (45-49% year-on-year growth versus consensus 35%). On the flip side, the holding in the energy sector was the major detractor during the year. As oil prices retreated, the energy holding dragged performance amid concerns on its earnings recovery. The subfund s portfolio manager has maintained exposure in the company as its valuations are attractive. During the year, the sub-fund has trimmed positions in the industrial and financial sectors. Contrarily, the portfolio manager, seeing more values, switched to add positions in technology stocks in Taiwan and consumptions stocks, particularly in A shares, in light of the sustained good sales numbers. * 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 132

CHINA VALUE FUND MARKET REVIEW Signs of confidence are returning to China in the year under review. The first-quarter macro data of 2017 continued to show that the world s second-largest economy is gaining momentum with benign inflation pressure. Activity in China s manufacturing sector picked up further in March 2017 with the official Purchasing Managers Index ( PMI ) rose for the second consecutive month to 51.8, the highest since April 2012, supported by China s increased efforts in providing fiscal stimulus which started in 2016, as well as improving domestic and export demand. A series of encouraging macro data signalled further stabilization in China s economy in the second quarter of 2017. The official manufacturing PMI stayed in expansionary territory in June for the 11th consecutive month while export surprised on the upside on the back of global trade recovery, rising 8.7% in May in USD terms. Meanwhile, China s retail sales grew 10.7% from a year earlier in May 2017, reflecting the continuous progress in China s shift towards a consumption-driven economy. At the policy front, the Beijing government has made steady progress in pushing ahead supply-side reforms, while stability was once again highlighted as a top policy priority for 2017 at the Politburo meeting. Positive messages were also delivered at the National People s Congress ( NPC ) in March 2017. Presenting the government work report at the NPC, Premier Li Keqiang noted that growth stability and currency stability are the top priorities for the year. Amid the transition from a pro-growth stance in 2016 to growth stability in 2017, China set its growth target for 2017 at a more reasonable level at 6.5% and the sub-fund s portfolio manager believes this is achievable. With the recent macro improvement, this has also created more room for policymakers to tackle financial excesses and overcapacity. Against this backdrop, China is expected to maintain a more prudent monetary policy and will focus on risk control measures, such as financial regulation strengthening and the speed up of supply-side reform. While deleveraging will constrain liquidity in the market, it is believed that these initiatives are positive to China over the long run. Robust fundamentals in the first half of 2017 highlighted the strength in China s economy, providing a window of opportunity for the policy makers to tackle deep-seated structural issues. In fact, such structural issues, including climbing debt levels and shadow banking, were cited as major reasons in Moody s downgrade of China and Hong Kong s sovereign credit ratings in late May 2017. In light of the government s policy bias tilts towards tightening to rein in leverage and financial risks, a modest moderation in growth is expected later this year. However, a sharp deceleration in growth is unlikely given a managed pace of tightening and the government s policy priority to maintain growth at 6.5% this year. MARKET OUTLOOK The Hong Kong and China markets turned in a strong rally year-to-date in 2017 on the back of recovering corporate earnings results. The recovery trend in earnings is evident as compared to an earning contraction of 13% in the fourth quarter of 2016, earnings growth of MSCI China Index companies picked up to 7% year-on-year during the first quarter of 2017 1. Meanwhile, with recovering profitability and margin expansion, consensus earnings-per-share (EPS) growth of the MSCI China Index 2 is estimated to reach 15% for the whole year of 2017, providing impetus for market performance during the year. From the perspective of capital flow, southbound investment s share in the daily turnover of Hong Kong s stockmarket has been increasing steadily since the fourth quarter last year. Now southbound turnover has exceeded 10% of the average daily turnover in Hong Kong. With increasing demand for overseas asset allocation from China s insurance companies, social security funds and mutual funds, southbound capitals are expected to play a larger role in Hong Kong s stockmarket going forward. Over the long haul, this will not only benefit H-share investors as China continues to open up its capital market, but the heightened liquidity will also reinforce Hong Kong s position as an Asian financial centre. 133 MANULIFE GLOBAL FUND

CHINA VALUE FUND Looking forward to the second half of the year, the sub-fund s portfolio manager remains constructive in Chinese equities despite the strong market performance in the first half and the possibility that economic data may soften after rounds of solid growth data since the start of the year. With that said, bottom-up stock selection is crucial to identify value companies with sustainable earnings. Among various sectors, the portfolio manager favours companies that will benefit from the consumption upgrade momentum in China, such as consumer discretionary and technology leaders. In light of the fast advancement in technology, the portfolio manager also favours leading technology companies which exhibit abilities to command more market share in the future. Although the 12-month forward price-to-earnings (P/E) ratio of the MSCI China Index has normalized to 13.2 times (above 10-year average of 12.1 times), it is still trading at an attractive level relative to most emerging and developed markets. 1 Source: Bloomberg, CICC Research, Factset, MSCI. Data as of May 2017. 2 Source: Bloomberg, Deutsche Bank Research. Data as of May 2017. MANULIFE GLOBAL FUND 134

DRAGON GROWTH FUND Portfolio of Investments as at 30 June 2017 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 3,484,000 Beijing Enterprises Water Group Limited 2,248,657 2,704,623 1.18 2,764,000 China Animal Healthcare Limited a 1,811,366 0 0.00 1,812,000 China Gas Holdings Limited 2,778,126 3,658,224 1.59 6,838,149 6,362,847 2.77 Cayman Islands 283,000 AAC Acoustic Technologies Holdings Inc. 2,547,533 3,538,280 1.53 151,438 Alibaba Group Holding Limited 12,330,163 21,269,467 9.24 24,721 Baidu.com ADR 4,395,337 4,420,856 1.92 36,633 Beigene Limited ADR 921,371 1,644,089 0.71 423,532 Cheung Kong Property Holdings Limited 2,326,066 3,317,711 1.44 3,092,000 China Everbright Greentech Limited 2,145,722 2,099,284 0.91 1,103,000 China Medical System Holdings Limited 1,390,463 1,907,503 0.83 5,674,000 China Resources Cement Holdings Limited 1,925,668 2,820,181 1.23 1,244,444 China Resources Land Limited 3,006,007 3,626,708 1.58 395,032 CK Hutchison Holdings Limited 4,662,945 4,959,230 2.16 6,187,500 Grand Baoxin Auto Group Limited 2,970,398 2,972,367 1.29 1,500,000 JNBY Design Limited 1,237,469 1,247,073 0.54 716,000 Minth Group Limited 1,943,903 3,035,966 1.32 2,608,000 Modern Dental Group Limited 1,420,592 1,039,020 0.45 37,470 New Oriental Education & Technology 1,467,120 2,641,635 1.15 Group ADR 411,600 Sands China Limited 1,829,816 1,884,983 0.82 2,080,000 Sino Biopharmaceutical 1,864,016 1,838,520 0.80 636,300 Tencent Holdings Limited 8,292,618 22,757,955 9.89 1,326,000 Vinda International Holdings 2,140,488 2,683,839 1.17 91,229 Weibo Corp. ADR 2,403,718 6,058,518 2.63 61,221,413 95,763,185 41.61 China 1,267,000 China Communications Construction 1,262,230 1,632,791 0.71 Company Limited H 13,925,000 China Construction Bank Corp. 9,909,206 10,792,113 4.70 1,102,000 China Life Insurance Company Limited H 3,139,890 3,366,866 1.46 3,225,000 China Molybdenum Company Limited 1,204,288 1,235,256 0.54 7,081,000 China National Materials Company 2,244,580 2,367,506 1.03 4,326,000 China Oilfield Services Limited 3,663,436 3,469,100 1.51 3,678,000 China Petroleum & Chemical Corp. 2,815,993 2,869,359 1.25 80,310 Ctrip.com International Limited ADR 3,475,732 4,357,621 1.89 540,100 Huayu Automotive Systems Company 1,803,782 1,929,921 0.84 Limited A ** 15,729,000 Industrial & Commercial Bank of China 10,787,176 10,618,609 4.61 10,326,000 Maanshan Iron & Steel 3,463,986 4,127,078 1.79 1,046,500 Ping An Insurance Group Company of 5,322,790 6,897,322 3.00 China Limited 5,045,000 Weichai Power Company Limited 3,075,943 4,420,519 1.92 372,000 Zhengzhou Yutong Bus Company 1,162,598 1,204,775 0.52 Limited A ** 53,331,630 59,288,836 25.77 135 MANULIFE GLOBAL FUND

DRAGON GROWTH FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Hong Kong 1,671,200 AIA Group Limited 8,231,276 12,213,497 5.31 261,900 Asm Pacific Technology Limited 2,082,280 3,539,516 1.54 861,500 BOC Hong Kong Holdings Limited 2,869,296 4,121,941 1.79 4,138,000 China Foods Limited 1,875,496 1,754,585 0.76 817,500 China Mobile Hong Kong Limited 9,247,580 8,676,332 3.77 418,000 China Overseas Land & Investment Limited 1,310,012 1,223,541 0.53 2,096,000 China Unicom Hong Kong Limited 2,731,480 3,114,621 1.35 4,025,000 Cnooc Limited 4,214,291 4,408,470 1.91 517,000 Galaxy Entertainment Group Limited 2,767,538 3,139,241 1.36 110,100 Hong Kong Exchanges and Clearing Limited 2,152,529 2,846,193 1.24 2,051,000 Kingboard Laminates Holdings Limited 2,492,737 2,474,984 1.08 366,000 Link Real Estate Investment Trust 2,174,696 2,784,989 1.21 303,000 Power Assets Holdings Limited 2,674,791 2,676,288 1.16 1,034,200 Swire Properties Limited 3,114,305 3,411,440 1.48 680,000 Techtronic Industries Company 2,527,379 3,127,226 1.36 232,000 Wharf Holdings Limited 1,695,480 1,922,862 0.84 52,161,166 61,435,726 26.69 United Kingdom 265,200 HSBC Holdings plc 2,164,693 2,468,113 1.07 2,164,693 2,468,113 1.07 United States 79,224 Yum China Holdings Inc. 2,145,533 3,073,891 1.34 2,145,533 3,073,891 1.34 Equities Total 177,862,584 228,392,598 99.25 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 177,862,584 228,392,598 99.25 Portfolio of Investments 177,862,584 228,392,598 99.25 Other Net Assets 1,722,615 0.75 Net Assets 230,115,213 100.00 ** The security is valued with the off-shore FX rate of CNH (refer to note 2.2 on page 254) 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 136

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 2016 TO 30 JUNE 2017* Dragon Growth Fund Class A +29.45% Dragon Growth Fund Class AA (HKD) +29.10% MSCI Zhong Hua Index +29.82% PERFORMANCE FROM 14 DECEMBER 2016 TO 30 JUNE 2017 Dragon Growth Fund Class AA +19.82% PORTFOLIO REVIEW Strong stock selection in the Chinese information technology sector was a major performance contributor. One of the leading micro blogging platforms in China was the top contributor, after it reported stronger-than-expected earnings due to revenue growth on all business segments and a continuously expanding user base. Revenue guidance for the second quarter also came above consensus forecasts. The Chinese utilities sector contributed positively to performance, especially gas distribution companies, as the Government continues to push its environmental protection initiatives. The sub-fund s exposure to the Chinese materials space, especially those in the cement and steel businesses, contributed positively to performance given the Government s push and producers initiative to rationalise supply. Consolidation has been one of the sub-fund s key investment themes. The main detractors were stock selection in consumer discretionary, real estate, and energy. The subfund s exposure to the energy sector negatively impacted performance; oil prices were volatile as Organization of the Petroleum Exporting Countries (OPEC) and non-opec members decision to extend their production cut was offset by mounting concerns on weak demand and a supply glut. MARKET REVIEW The China and Hong Kong equity markets (the markets) had a strong start during the period in review. This was due to companies reporting mostly better-than-expected earnings during the third quarter reporting season, and as China s Producer Price Index (PPI) rose from a 55-month deflation in September and continued through May 2017. This was supportive of pricing power returning to corporates, as well as an improvement of the banking industry s asset quality. By the latter part of 2016, the markets reacted negatively to the strengthening dollar and higher bond yields post US President Donald Trump s victory, which raised concerns on the impact of his campaign platforms to inflation and the future path of the Fed hiking cycle, as well on future trade relations between the US and Asian economies. During the first half of 2017, the markets rallied on the back of notable improvements in economic data in China as well as on better-than-expected first quarter earnings and positive guidance, especially from the technology and internet related sectors. Market participants reaction was muted when Moody s downgraded China and Hong Kong s sovereign credit rating in May. By June, MSCI announced the inclusion of the country s A-shares in their global equity indices in two phases starting May 2018; it is a vote of confidence for China to further financial reforms and develop capital markets. Despite the Fed hiking policy rates thrice by 25 basis points (bps) each in December, March, and June to 1.25%, the markets remained resilient as the Fed maintained a dovish outlook on the tightening cycle. * 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. 137 MANULIFE GLOBAL FUND

DRAGON GROWTH FUND OUTLOOK The sub-fund s portfolio manager (PM) remains constructive on China and Hong Kong equities despite the good year-to-date performance, as upward revisions on earnings are still stronger than expected. US and European macroeconomic data show resilience, while China continued to surprise investors with higher Purchasing Manager Index (PMI) figures and corporate earnings. The PM added exposure to the healthcare sector given expectations of a sales pickup driven by the potential new drugs from the tendering process. MANULIFE GLOBAL FUND 138

EMERGING EASTERN EUROPE FUND Portfolio of Investments as at 30 June 2017 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 Austria 83,979 Erste Group Bank AG 2,197,772 3,239,955 3.01 2,197,772 3,239,955 3.01 Czech Republic 1,140,662 Moneta Money Bank AS 3,409,440 3,803,000 3.54 3,409,440 3,803,000 3.54 Kazakhstan 343,629 KazMunaiGas Exploration Production GDR 3,195,750 3,240,421 3.01 3,195,750 3,240,421 3.01 Netherlands 132,091 Yandex NV A 2,794,807 3,455,501 3.21 2,794,807 3,455,501 3.21 Poland 30,505 Bank Zachodni WBK SA 2,690,883 2,831,895 2.63 248,533 Dino Polska SA 2,159,932 3,085,487 2.87 441,365 Powszechna Kasa Oszczednosci Bank 5,082,278 4,111,682 3.82 Polski SA 9,933,093 10,029,064 9.32 Russian Federation 63,713 Lukoil PJSC ADR 3,727,106 3,099,956 2.88 83,802 Lukoil PJSC ADR 4,791,572 4,077,386 3.79 49,075 NovaTek OAO GDR 4,878,600 5,479,224 5.10 191,955 Phosagro OAO GDR 2,027,090 2,557,800 2.38 65,535 Phosagro OAO 892,456 873,254 0.81 554,200 Rosneft Oil Company GDR 3,151,440 3,021,776 2.81 89,679 Tatneft ADR 3,006,331 3,375,069 3.14 170,038 X5 Retail Group NV GDR Reg 3,272,918 5,904,570 5.49 25,747,513 28,389,035 26.40 Turkey 830,918 Akbank TAS 2,366,251 2,324,138 2.16 392,774 Arcelik AS 2,481,576 2,884,638 2.68 121,802 Coca-Cola Icecek AS 2,942,679 1,410,858 1.31 1,201,705 Global Yatirim Holding AS 1,083,283 978,161 0.91 415,649 Koc Holding AS 1,819,106 1,920,742 1.79 153,448 Mavi Jeans B 1,873,307 1,867,664 1.74 1,364,836 Petkim Petrokimya Holding 1,911,229 2,347,917 2.18 332,420 Tofas Turk Otomobil Fabrik 1,600,323 2,730,381 2.54 130,489 Tupras-Turkiye Petrol Rafinerileri 2,941,493 3,735,141 3.47 58,330 Turk Traktor ve Ziraat Makineleri AS 911,746 1,301,332 1.21 1,770,987 Turkiye Garanti Bankasi AS 6,279,306 4,943,516 4.60 8,454,900 Turkiye Sinai Kalkinma Bankasi AS 3,755,170 3,399,014 3.16 29,965,469 29,843,502 27.75 139 MANULIFE GLOBAL FUND

EMERGING EASTERN EUROPE FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United Kingdom 508,167 International Personal Finance plc 2,028,822 1,112,605 1.03 367,941 Kaz Minerals plc 2,096,960 2,505,078 2.33 392,204 Nostrum Oil & Gas plc 4,281,491 2,392,429 2.22 8,407,273 6,010,112 5.58 Virgin Islands (British) 39,000 Luxoft Holding Inc. 2,166,877 2,367,300 2.20 2,166,877 2,367,300 2.20 Equities Total 87,817,994 90,377,890 84.02 Funds Romania 10,564,206 Fondul Proprietatea SA 1,587,429 2,195,580 2.04 1,587,429 2,195,580 2.04 Funds Total 1,587,429 2,195,580 2.04 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 89,405,423 92,573,470 86.06 Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities Equities Russian Federation 1,408,722 Detsky Mir Pjsc Dsky Rm 2,027,669 2,228,775 2.07 2,223,410 Moscow Exchange Micex 4,256,123 3,923,188 3.65 1,821,141 Sberbank RF 1,784,718 4,481,012 4.17 2,877,625 Surgutneftegaz Pfd 1,638,926 1,392,678 1.29 42,252,806 Unipro Pjsc Upro Rm 2,948,247 1,781,590 1.66 12,655,683 13,807,243 12.84 Equities Total 12,655,683 13,807,243 12.84 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities 12,655,683 13,807,243 12.84 Portfolio of Investments 102,061,106 106,380,713 98.90 Other Net Assets 1,178,387 1.10 Net Assets 107,559,100 100.00 (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 140

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 2016 TO 30 JUNE 2017* Emerging Eastern Europe Fund Class A +20.03% Emerging Eastern Europe Fund Class AA +19.78% MSCI Emerging Europe 10/40 Index +19.78% PORTFOLIO REVIEW The sub-fund generated a strong return over the 12-month period ending 30 June 2017, slightly ahead of underlying markets. This outperformance could be attributed to the sub-fund s exposure to Kazakhstan, not represented in its MSCI EM Europe 10/40 Index benchmark, as well as its stock selection in Russia. By contrast, an underweight exposure to Poland was a drag on performance. Over the period under review, the sub fund s exposure to Russia was reduced significantly in favour of a higher exposure to Kazakhstan and Poland. On a sector analysis, exposure to consumer staples and industrials fell as exposure to consumer discretionary and energy rose. Currently, the sub-fund s largest overweight exposure is in Turkey, closely followed by Kazakhstan, with exposure to Russia, Hungary and Greece significantly underweight. The consumer sectors are well represented within the portfolio, whilst exposure to energy and telecommunication services is underweight. MARKET REVIEW Share prices moved broadly and consistently higher across the stockmarkets of emerging eastern Europe over the 12-month period ending 30 June 2017. Gains were most pronounced in central Europe, with Poland and Hungary both performing strongly despite widely-held concerns over political developments. Frontier markets, such as Romania and Kazakhstan also performed well. The two major markets of Russia and Turkey generated more subdued net gains. There were few developments of note in Russia, by contrast Turkey endured a frenetic 12 months with share prices first falling sharply and then recovering even more strongly. The marked share price movements seen in Turkey came as a result of two significant events. First, an attempted coup by a section of the military that initially only narrowly failed to overthrow President Erdogan but which was then brutally crushed and followed by a prolonged purge of those thought by the government to be in sympathy with the insurgents; and second, a constitutional referendum that saw the country voting to make the office of president an executive, rather than a largely ceremonial, one. Both developments however served to underline the extent to which Recep Tayyip Erdogan, the president of Turkey, has centralised power around himself in an increasingly autocratic fashion. July s coup came as something of a shock and financial markets reacted negatively to both the coup itself and the subsequent crackdown; although by no means unusual in an historical context, markets had supposed that Turkey had outgrown its past and could now be considered alongside more normal western democracies. This view was however superseded by the realization that with President Erdogan now in firm control, and with no elections on the horizon, political uncertainty had all but disappeared and that the government could now get on with the job of running the country and promoting economic growth. * 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. 141 MANULIFE GLOBAL FUND

EMERGING EASTERN EUROPE FUND Russian share prices were supported by a gradual improvement in economic activity with GDP returning to growth after a prolonged recession. The strength of the rouble was a further positive, with high real interest rates attracting inflows into the currency; the central bank of Russia has maintained interest rates at comparatively high levels whilst inflation has fallen back. Movements in the oil price had little impact on the rouble though they did provide a boost to share prices around the turn of the year, with Russia joining OPEC members in agreeing to limit production in order to help clear inventories and thus support the oil price. The high value of the rouble relative to oil tended to benefit consumer-related stocks, especially those with an import focus, though it was a negative for commodity companies whose revenues are largely in US dollars but costs predominantly in roubles. OUTLOOK Looking forward, the current stable market conditions can be expected to continue. The increase in capital markets activity seen recently is evidence of this. Against this backdrop, the bottom-up stockpicking approach of the sub-fund s managers is well-placed to identify the best opportunities available as and when they appear. The outlook for Russia remains positive, although possibly not quite to the same extent as in 2016. The arrival of Trump in the White House appears to be heralding a far more pro-russia stance in US politics, oil prices are unlikely to weaken given production cuts and newly found discipline amongst OPEC and some non-opec producers and valuations for the market overall continue to be at a discount to most other emerging markets. Prospects for Turkey are now more encouraging, as political considerations fade from view and become less important, the government can concentrate its energy on reinvigorating the economy. And there are already early signs that this is beginning to happen. Elsewhere in the region, political developments in both Poland and Hungary continue to raise concerns with both seen as increasingly out of step with the more liberal-minded democracies of western Europe. This did not however prevent the very strong stockmarket performance of the last 12 months, and further gains may be possible. MANULIFE GLOBAL FUND 142

EUROPEAN GROWTH FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Austria Denmark France Germany Ireland Israel Italy Transferable securities and money market instruments admitted to an official exchange listing (1) Equities 23,207 Andritz AG 1,103,534 1,399,348 1.31 47,927 Wienerberger AG 809,278 1,098,917 1.03 1,912,812 2,498,265 2.34 49,606 Novo Nordisk A/S 1,874,208 2,131,669 2.00 18,778 Vestas Wind Systems A/S 1,373,950 1,728,101 1.62 3,248,158 3,859,770 3.62 11,898 Amundi SA 843,910 863,147 0.81 43,470 Danone 2,873,419 3,295,591 3.09 79,491 Groupe Eurotunnel SA 832,220 850,296 0.80 19,461 Publicis Groupe 1,249,311 1,459,166 1.37 20,025 Schneider Electric SA 1,402,629 1,550,641 1.46 7,201,489 8,018,841 7.53 4,267 Continental AG 699,763 922,075 0.86 26,581 Fresenius Medical Care AG & Company KGaA 2,257,172 2,566,354 2.41 9,851 Henkel AG & Company KGaA 724,120 1,195,767 1.12 21,449 Hugo Boss AG 1,362,865 1,513,147 1.42 28,772 Infineon Technologies AG 321,546 612,050 0.57 10,232 SAP SE 818,211 1,072,633 1.01 13,544 Volkswagen AG Pfd 1,904,328 2,068,786 1.94 8,088,005 9,950,812 9.33 299,314 Allied Irish Bank 1,537,773 1,685,478 1.58 4,275,412 Bank of Ireland 1,146,163 1,123,422 1.06 525,554 Greencore Group plc 1,601,132 1,677,425 1.58 4,285,068 4,486,325 4.22 10,255 Check Point Software Technologies 1,139,964 1,122,307 1.05 1,139,964 1,122,307 1.05 88,899 ENI SpA 1,465,778 1,340,627 1.26 955,231 Intesa Sanpaolo SpA 2,608,299 3,060,015 2.87 4,074,077 4,400,642 4.13 Jersey Channel Islands 25,831 Shire plc 1,538,441 1,419,839 1.33 1,538,441 1,419,839 1.33 143 MANULIFE GLOBAL FUND

EUROPEAN GROWTH FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Netherlands 24,680 Akzo Nobel NV 1,801,775 2,157,532 2.03 23,201 Euronext NV 1,025,997 1,205,095 1.13 145,495 Koninklijke Ahold Delhaize NV 3,106,443 2,816,611 2.65 50,901 Koninklijke Philips Electronics NV 1,341,828 1,818,408 1.71 547,172 Royal KPN NV 1,619,953 1,765,954 1.66 27,816 Unilever NV 1,101,386 1,542,205 1.45 Norway Spain Sweden 1,034,728 1,301,074 9,997,382 11,305,805 10.63 212 Statoilhydro ASA 3,489 3,508 0.00 3,489 3,508 0.00 396,803 Banco Bilbao Vizcaya Argentaria 2,816,197 3,339,665 3.14 156,749 Banco Santander Central Hispano SA 1,034,834 1,049,038 0.99 241,670 Repsol YPF SA 2,601,524 3,730,055 3.51 91,954 Telefonica SA 1,130,750 957,242 0.90 7,583,305 9,076,000 8.54 15,623 Essity B 298,155 433,555 0.41 298,155 433,555 0.41 Switzerland 73,684 ABB Limited Reg 1,738,142 1,826,596 1.72 36,701 Credit Suisse Group AG Reg 512,016 541,430 0.51 16,183 Nestle SA Reg 1,183,393 1,413,654 1.33 33,915 Novartis AG Reg 2,510,907 2,842,058 2.68 4,581 Swatch Group AG B 1,313,034 1,707,488 1.61 9,412 Zurich Financial Services AG Reg 2,219,710 2,757,324 2.60 9,477,202 11,088,550 10.45 United Kingdom 59,560 Admiral Group plc 1,291,995 1,548,613 1.45 32,381 Astrazeneca plc 1,836,420 2,175,419 2.04 157,823 Bhp Billiton plc 2,364,713 2,428,542 2.29 346,088 BP plc 2,025,015 2,005,152 1.88 204,657 BT Group plc 950,508 781,860 0.73 377,370 Carphone Warehouse Group plc 1,556,916 1,387,090 1.30 25,080 Dialog Semiconductor plc 1,002,091 1,074,474 1.01 148,575 Ds Smith plc 731,335 921,048 0.86 531,861 Equiniti Group plc 1,289,683 1,709,631 1.61 57,452 GKN plc 269,493 243,302 0.23 24,506 Glaxosmithkline plc 569,860 523,033 0.49 338,539 HSBC Holdings plc 2,765,095 3,146,697 2.96 32,132 Imperial Tobacco Group plc 1,524,257 1,451,009 1.36 62,691 Informa plc 512,638 545,374 0.51 87,221 Liberty Global Inc. 2,741,264 2,799,358 2.63 25,627 Prudential plc 428,954 590,516 0.55 46,395 Rio Tinto plc 1,808,773 1,963,567 1.84 159,233 Royal Dutch Shell plc B 4,463,180 4,289,985 4.04 207,539 RSA Insurance Group 1,379,755 1,665,444 1.56 92,090 Smith & Nephew plc 1,426,786 1,589,113 1.49 335,930 Standard Chartered Bank plc 3,669,481 3,413,161 3.20 54,995 Tullow Oil plc 420,511 107,315 0.10 35,028,723 36,359,703 34.13 Equities Total 93,876,270 104,023,922 97.71 MANULIFE GLOBAL FUND 144

EUROPEAN GROWTH FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Rights Spain 241,670 Repsol SA Right 76,513 109,610 0.10 76,513 109,610 0.10 Rights Total 76,513 109,610 0.10 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 93,952,783 104,133,532 97.81 Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities Rights France 15,112 Publicis Groupe SA Right 0 0 0.00 0 0 0.00 Rights Total 0 0 0.00 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities 0 0 0.00 Other transferable securities and money market instruments (2) Equities Finland 640,479 Talvivaara Mining Company plc a 498,359 83 0.00 498,359 83 0.00 Equities Total 498,359 83 0.00 Total Other transferable securities and money market instruments (2) 498,359 83 0.00 Portfolio of Investments 94,451,142 104,133,615 97.81 Other Net Assets 2,330,673 2.19 Net Assets 106,464,288 100.00 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. 145 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 2016 TO 30 JUNE 2017* European Growth Fund Class A +19.30% European Growth Fund Class AA +19.02% European Growth Fund Class I +19.82% European Growth Fund Class I3 +21.15% MSCI Europe Index +21.81% PORTFOLIO REVIEW From an individual securities perspective, an information technology holding contributed to the sub-fund s performance. The UK company s shares increased in response to an acquisition offer from a Japanese firm. A UK engineering consulting services company also contributed to the sub-fund s performance after it received a takeover bid from a Canadian competitor at a premium to the undisturbed share price (i.e. the last share price before takeover talks began). Most of the sub-fund s significant detractors from performance, including telecommunications services and industrials companies, had considerable exposure to the UK. One firm in the aerospace industry suffered from various management errors that eliminated significant shareholder value, while a telecommunications services holding company lost some profitable public contracts and uncovered accounting irregularities in its Italian division. The sub-fund s portfolio manager (PM) increased the sub-fund s positions in two materials holdings after stress-testing the free cash flow (FCF) generation of the mining companies iron ore assets. The PM s financial models indicated that under depressed long-term commodity price assumptions, these miners still trade on very attractive FCF yields. Following significant unproductive capital investment over the past decade and the subsequent related decline in commodity prices, the PM believes there has been a significant change in the way the companies current management teams view capital allocation and maximising shareholder value. The PM believes these businesses, if run prudently, should be capable of sustaining large and growing dividends. MARKET REVIEW European markets performed strongly over the past 12 months, driven by a narrowing of the deep valuation discount to US equities and moderating political risk. The euro increased by 7% and the British pound increased by 3% in the first half of 2017, driven by the improving performance of the European economy relative to North America and the change in expectations over central bank policy. The euro also benefited after the pro-european candidate Emmanuel Macron won by a wide margin in the second round of the French presidential election. Currency strength accounted for most of the equity gains over the year. The UK was the worst-performing major European market over the 12 months following the country s surprise vote to exit the EU (known as Brexit ). The British pound fell sharply in response to the UK s vote in late June 2016, with currency moves accounting for much of the underperformance of UK equities. The best-performing sector was financials, which recovered as investors no longer priced in a deflationary environment. The materials sector was strong as the iron ore price rebounded, driven by buoyant emerging market demand and the closure of unprofitable Chinese mines. This also helped the industrials sector perform well, as companies in this sector derive a large part of their revenue from selling equipment to the mining industries and emerging markets. The energy sector lagged on data showing US oil inventories were nearing record levels and on the resumption of North American shale oil production, which has created a glut of supply. * 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 146

EUROPEAN GROWTH FUND OUTLOOK The last 12 months have seen two distinct rotations in European equities brought about by changes in the inflationary outlook. The first six months was characterised by rising inflation expectations and rising interest rates, while the second six months saw a distinct lapse back into deflationary expectations. The latter rotation was less positive for the sub-fund as the rotation into stocks with high valuation and low FCF yield did not suit the PM s investment style. The outlook is for interest rates to rise as global quantitative easing fades and central banks allow rates and yield curves to normalise. The PM believes the subdued growth outlook, low FCF yields, and negative exposure to tightening monetary policy pose major risks to the continued outperformance of large-capitalisation quality stocks. The PM believes that oil majors, miners, and financials sector stocks offer more attractive returns given their positive correlation to a reflationary environment and high-single-digit FCF yields. UK equities also appear to offer interesting investment opportunities, as they are trading on valuations that factor in a prolonged recession. While such an eventuality cannot be ruled out, UK GDP has held up surprisingly well, and many UK-listed names have globally diversified businesses that the PM believes can succeed regardless of fluctuations in the UK economy. The PM remains committed to buying good companies with enduring cash flows that trade at a marked discount to their long-term FCF generation. Many of the companies that did well this year have failed the PM s investment criteria based on cash flow valuation grounds. Provided the PM s cash flow projections are suitably cautious, the deeply discounted businesses owned in the sub-fund should exceed market returns for value-conscious, patient investors. 147 MANULIFE GLOBAL FUND

GLOBAL CONTRARIAN FUND Portfolio of Investments as at 30 June 2017 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 46,560 Amcor Limited 462,495 580,242 3.28 462,495 580,242 3.28 Cayman Islands 21,307 CK Hutchison Holdings Limited 277,253 267,488 1.51 277,253 267,488 1.51 France 1,867 Sanofi-Aventis SA 177,905 180,299 1.02 8,863 Total SA 490,179 441,270 2.50 668,084 621,569 3.52 Germany 3,101 Deutsche Boerse AG 251,947 327,207 1.85 251,947 327,207 1.85 Hong Kong 33,000 China Mobile Hong Kong Limited 360,897 350,236 1.99 360,897 350,236 1.99 Ireland 8,630 Johnson Controls International plc 364,881 371,867 2.10 364,881 371,867 2.10 Japan 4,200 Bridgestone Corp. 155,855 181,273 1.02 5,100 Canon Inc. 153,703 173,547 0.98 8,100 Honda Motor Company Limited 282,375 221,316 1.25 9,900 Japan Tobacco Inc. 350,893 348,451 1.97 8,100 KDDI Corp. 216,110 214,888 1.21 19,000 Mitsubishi Estate Company Limited 371,301 354,704 2.01 1,530,237 1,494,179 8.44 Jersey Channel Islands 17,302 Experian plc 308,849 356,033 2.01 308,849 356,033 2.01 Luxembourg 45,354 Samsonite International SA 130,390 189,404 1.07 7,476 SES SA 245,408 178,378 1.01 375,798 367,782 2.08 Netherlands 2,128 Akzo Nobel NV 155,272 186,030 1.05 4,162 Heineken NV 319,972 407,160 2.30 9,905 Koninklijke Ahold Delhaize NV 194,234 191,749 1.08 14,877 Koninklijke Philips Electronics NV 449,806 531,472 3.00 8,177 Wolters Kluwer NV 285,860 345,647 1.95 1,405,144 1,662,058 9.38 MANULIFE GLOBAL FUND 148

GLOBAL CONTRARIAN FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Switzerland 3,424 Chubb Limited 427,110 498,569 2.82 6,154 Nestle SA Reg 464,983 537,578 3.04 5,215 Novartis AG Reg 426,964 437,014 2.47 2,240 Roche Holding AG 607,351 574,023 3.24 1,926,408 2,047,184 11.57 Taiwan 8,700 Taiwan Semiconductor Manufacturing 253,729 303,804 1.72 Company Limited ADR 253,729 303,804 1.72 United Kingdom 1,408 Aon Corp. 120,071 187,250 1.06 2,578 British American Tobacco plc 138,654 176,272 1.00 41,704 HSBC Holdings plc 392,055 387,636 2.19 650,780 751,158 4.25 United States 3,840 Advance Auto Parts Inc. 534,270 451,738 2.55 3,414 Affiliated Managers Group 558,728 569,694 3.22 3,688 Apple Computer Company 399,950 532,695 3.01 3,067 Arthur J Gallagher & Company 136,716 175,555 0.99 1,522 Baxter International Inc. 56,690 91,974 0.52 5,351 Exxon Mobil Corp. 435,334 433,699 2.45 2,437 Honeywell International Inc. 236,396 324,657 1.84 24,683 Huntington Bancshares Inc. 240,860 330,505 1.87 2,750 Johnson & Johnson 264,492 365,475 2.07 4,188 JP Morgan Chase 275,244 383,537 2.17 6,532 Microsoft Corp. 287,791 451,231 2.55 5,222 Mondelez International Inc. 205,203 226,739 1.28 11,456 Oracle Corp. 459,210 575,778 3.26 2,682 Philip Morris International Inc. 229,652 314,760 1.78 3,788 PNC Financial Services Group 359,246 473,500 2.68 4,061 Procter & Gamble Company 335,637 354,038 2.00 3,290 United Technologies Corp. 361,694 402,170 2.27 7,314 Verizon Communications Inc. 359,070 324,559 1.83 17,210 Wells Fargo & Company 897,998 954,123 5.40 1,974 Whirlpool Corp. 335,330 374,567 2.12 6,969,511 8,110,994 45.86 Equities Total 15,806,013 17,611,801 99.56 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 15,806,013 17,611,801 99.56 Portfolio of Investments 15,806,013 17,611,801 99.56 Other Net Assets 78,006 0.44 Net Assets 17,689,807 100.00 (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. 149 MANULIFE GLOBAL FUND

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 2016 TO 30 JUNE 2017* Global Contrarian Fund Class AA +16.67% Global Contrarian Fund Class I2 +17.04% Global Contrarian Fund Class S +16.90% MSCI All Country World Index +19.42% PERFORMANCE FROM 1 JULY 2016 TO 3 JANUARY 2017 Global Contrarian Fund Class I3 +7.44% PORTFOLIO REVIEW Underweight positions in the energy and utilities sectors contributed to the sub-fund s performance. Individual contributors included two financials companies, whose share prices rose as the sector responded favourably to the US election results and the Fed raising interest rates. A healthcare sector holding also contributed after reporting earnings ahead of consensus expectations, with a strong contribution from its personal health segment. Stock selection in the consumer discretionary sector and an overweight position in the consumer staples sector detracted from performance. Individual detractors included a retailer that reported earnings below analyst estimates, as deflation had a negative impact on the company s US grocery stores, and as investors reacted negatively to various other incidents. These include the acquisition of Whole Foods by Amazon.com; a tobacco company whose shares suffered after reported earnings showed weaker sales momentum while a stronger local currency negatively affected overseas earnings; and an automotive parts retailer that reported earnings and comparable-store sales below expectations (though management expects higher productivity savings). MARKET REVIEW Global equity markets significantly advanced over the period due to investor optimism about the outcome of the US elections and an improving global economic backdrop. Emerging markets was the best-performing region as earnings expectations were raised and the economic backdrop improved. The Fed raised interest rates in multiple meetings, while the European Central Bank (ECB) kept its monetary policy steady. Energy was one of the worst-performing sectors due to volatility in the price of oil, stemming from increased global supply. Financials was the best-performing sector, specifically in the fourth quarter of 2016, as the prospects for earnings improvement increased. * 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 150

GLOBAL CONTRARIAN FUND OUTLOOK The sub-fund s portfolio manager (PM) believes global markets should continue to fare well in 2017. Key indices continued to rise in the second quarter, with international markets outperforming the US. The US has struggled on a relative basis as the market questions the new administration s ability to implement its economic agenda. In Europe, investor sentiment remains reasonably positive and markets welcomed the outcome of France s presidential elections. However, most price-earnings ratios for global equities remain higher than historical averages. Comparable price-earnings ratios have not been seen since the early 2000s. Furthermore, debt levels have risen, even as profit margins appear to be near peak levels. This is cause for concern because current valuations have priced-in strong earnings growth a perspective that the PM believes might be somewhat optimistic. Valuation concerns aside, the PM believes there are additional macroeconomic issues that investors should focus on. Deflation continues to be a risk, as does continued political uncertainty not just in the US, but also in relation to upcoming German and Italian elections and to Brexit negotiations. That said, political risks in the eurozone appear to have subsided. This means the PM sees it as less likely for the euro to fall sharply from concerns over cohesion of euro-area states. Against this background of renewed stability, the PM has removed the sub-fund s currency hedges. A sense of unease remains, however, over North Korea s nuclear situation. Markets appear to currently be in a valuation-rich environment. Against this backdrop, the PM will focus on companies that have enduring businesses; strong management teams with solid track records of effective capital allocation; strong balance sheets; and sustainable free cash flow. The PM continues to view the US financials sector positively, while remaining cautious of European firms within the sector. The PM also continues to favour sustainable, quality franchises within the consumer staples sector. In the PM s view, the biggest potential market risks stem from high global valuations and high debt levels. Despite significant efforts by central banks to kickstart economies with an injection of liquidity, inflation remains subdued. Some measures of inflation expectations have even declined to levels below those experienced during previous periods of quantitative easing. Despite this, the Fed raised rates for the second time in three months. The PM believes deflation risks remain and are not being priced-in by the market this contributes to concerns about higher debt levels. The PM maintains a negative view of the utilities sector due to high valuations, which are a result of low interest rates, though the PM also notes the sector is, relatively speaking, no more expensive than the broader market. 151 MANULIFE GLOBAL FUND

GLOBAL EQUITY FUND Portfolio of Investments as at 30 June 2017 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 357,732 Amcor Limited 3,486,454 4,458,145 3.41 3,486,454 4,458,145 3.41 Cayman Islands 154,656 CK Hutchison Holdings Limited 1,857,162 1,941,551 1.48 1,857,162 1,941,551 1.48 France 14,304 Sanofi-Aventis SA 1,172,250 1,381,356 1.06 60,927 Total SA 2,887,388 3,033,432 2.32 4,059,638 4,414,788 3.38 Germany 23,227 Deutsche Boerse AG 1,977,222 2,450,836 1.87 1,977,222 2,450,836 1.87 Hong Kong 243,000 China Mobile Hong Kong Limited 2,654,091 2,579,020 1.98 2,654,091 2,579,020 1.98 Ireland 62,755 Johnson Controls International plc 2,653,071 2,704,113 2.07 2,653,071 2,704,113 2.07 Japan 33,700 Bridgestone Corp. 1,160,358 1,454,503 1.11 39,800 Canon Inc. 1,116,914 1,354,349 1.04 58,900 Honda Motor Company Limited 1,640,304 1,609,323 1.23 71,800 Japan Tobacco Inc. 2,634,267 2,527,149 1.93 59,300 KDDI Corp. 1,583,090 1,573,189 1.20 140,000 Mitsubishi Estate Company Limited 2,725,402 2,613,607 2.00 10,860,335 11,132,120 8.51 Jersey Channel Islands 125,652 Experian plc 2,232,581 2,585,611 1.98 2,232,581 2,585,611 1.98 Luxembourg 316,500 Samsonite International SA 863,946 1,321,744 1.01 54,490 SES SA 1,447,795 1,300,135 0.99 2,311,741 2,621,879 2.00 Netherlands 15,158 Akzo Nobel NV 977,442 1,325,117 1.01 30,091 Heineken NV 2,472,522 2,943,742 2.25 71,978 Koninklijke Ahold Delhaize NV 1,525,027 1,393,409 1.07 111,060 Koninklijke Philips Electronics NV 3,135,813 3,967,553 3.03 62,483 Wolters Kluwer NV 2,218,087 2,641,197 2.02 10,328,891 12,271,018 9.38 MANULIFE GLOBAL FUND 152

GLOBAL EQUITY FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Switzerland 25,098 Chubb Limited 3,141,965 3,654,519 2.80 46,568 Nestle SA Reg 3,382,962 4,067,914 3.11 38,710 Novartis AG Reg 3,017,907 3,243,877 2.48 16,412 Roche Holding AG 4,194,756 4,205,742 3.22 13,737,590 15,172,052 11.61 Taiwan 70,682 Taiwan Semiconductor Manufacturing 2,061,094 2,468,215 1.89 Company Limited ADR 2,061,094 2,468,215 1.89 United Kingdom 10,632 Aon Corp. 919,740 1,413,950 1.08 19,337 British American Tobacco plc 1,050,918 1,322,179 1.01 311,187 HSBC Holdings plc 2,146,022 2,892,462 2.21 4,116,680 5,628,591 4.30 United States 28,141 Advance Auto Parts Inc. 3,910,465 3,310,507 2.53 25,616 Affiliated Managers Group 4,188,163 4,274,542 3.27 27,026 Apple Computer Company 2,971,464 3,903,635 2.98 22,729 Arthur J Gallagher & Company 848,773 1,301,008 0.99 11,003 Baxter International Inc. 391,894 664,911 0.51 36,786 Exxon Mobil Corp. 2,990,883 2,981,505 2.28 17,346 Honeywell International Inc. 1,765,536 2,310,834 1.77 175,823 Huntington Bancshares Inc. 1,656,095 2,354,270 1.80 20,416 Johnson & Johnson 2,047,033 2,713,286 2.07 29,837 JP Morgan Chase 1,881,229 2,732,472 2.09 48,613 Microsoft Corp. 2,481,901 3,358,186 2.57 36,693 Mondelez International Inc. 1,559,142 1,593,210 1.22 83,933 Oracle Corp. 3,359,444 4,218,473 3.22 21,243 Philip Morris International Inc. 1,850,171 2,493,078 1.91 26,985 PNC Financial Services Group 2,321,838 3,373,125 2.58 27,911 Procter & Gamble Company 2,192,480 2,433,281 1.86 22,609 United Technologies Corp. 1,997,479 2,763,724 2.11 52,072 Verizon Communications Inc. 2,486,481 2,310,695 1.77 120,158 Wells Fargo & Company 6,148,426 6,661,561 5.08 14,997 Whirlpool Corp. 2,230,918 2,845,681 2.18 49,279,815 58,597,984 44.79 Equities Total 111,616,365 129,025,923 98.65 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 111,616,365 129,025,923 98.65 Portfolio of Investments 111,616,365 129,025,923 98.65 Other Net Assets 1,765,120 1.35 Net Assets 130,791,043 100.00 (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. 153 MANULIFE GLOBAL FUND

GLOBAL EQUITY 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 2016 TO 30 JUNE 2017* Global Equity Fund Class A +16.80% Global Equity Fund Class AA +16.51% MSCI World Index +18.86% PORTFOLIO REVIEW Underweight positions in the energy and utilities sectors contributed to the sub-fund s performance. Individual contributors included two financials companies, whose share prices rose as the sector responded favourably to the US election results and the Fed raising interest rates. A healthcare sector holding also contributed after reporting earnings ahead of consensus expectations, with a strong contribution from its personal health segment. Stock selection in the consumer discretionary sector and an overweight position in the consumer staples sector detracted from performance. Individual detractors included a retailer that reported earnings below analyst estimates as deflation negatively impacted the company s US grocery stores, and as investors reacted negatively to various occurrences. These include the acquisition of Whole Foods by Amazon.com; a tobacco company whose shares suffered after reported earnings showed weaker sales momentum while a stronger local currency negatively affected overseas earnings; and an automotive parts retailer that reported earnings and comparable-store sales below expectations (though management expects higher productivity savings). MARKET REVIEW Global equity markets significantly advanced over the period due to investor optimism about the outcome of the US elections and an improving global economic backdrop. Emerging markets was the best-performing region as earnings expectations were raised and the economic backdrop improved. The Fed raised interest rates in multiple meetings, while the European Central Bank (ECB) kept its monetary policy steady. Energy was one of the worst-performing sectors due to the volatility in the price of oil, stemming from increased global supply. Financials was the best-performing sector, specifically in the fourth quarter of 2016, as the prospects for earnings improvement increased. * 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 154

GLOBAL EQUITY FUND OUTLOOK The sub-fund s portfolio manager (PM) believes global markets should continue to fare well in 2017. Key indices continued to rise in the second quarter, with international markets outperforming the US. The US has struggled on a relative basis as the market questions the new administration s ability to implement its economic agenda. In Europe, investor sentiment remains reasonably positive and markets welcomed the outcome of France s presidential elections. However, most price-earnings ratios for global equities remain higher than historical averages. Comparable price-earnings ratios have not been seen since the early 2000s. Furthermore, debt levels have risen, even as profit margins appear to be near peak levels. This is cause for concern because current valuations have priced-in strong earnings growth a perspective that the PM believes might be somewhat optimistic. Valuation concerns aside, there appear to be more macroeconomic issues that investors should focus on. Deflation continues to be a risk, as does continued political uncertainty not just in the US, but also in relation to upcoming German and Italian elections and to Brexit negotiations. That said, the PM believes political risks in the eurozone have subsided. This means the PM sees it as less likely for the euro to fall sharply from concerns over cohesion of euro-area states. Against this background of renewed stability, the sub-fund s currency hedges have been removed. A sense of unease remains, however, over North Korea s nuclear situation. The PM believes markets are currently in a valuation-rich environment. Against this backdrop, the PM will focus on companies that have enduring businesses; strong management teams with solid track records of effective capital allocation; strong balance sheets; and sustainable free cash flow. The PM continues to view the US financials sector positively, although the PM remains cautious of European firms within the sector. The PM also continues to favour sustainable, quality franchises within the consumer staples sector. In the PM s view, the biggest potential market risks stem from high global valuations and high debt levels. Despite significant efforts by central banks to kickstart economies with an injection of liquidity, inflation remains subdued. Some measures of inflation expectations have even declined to levels below those experienced during previous periods of quantitative easing. Despite this, the Fed raised rates for the second time in three months. The PM believes deflation risks remain and are not being priced-in by the market this contributes to concerns about higher debt levels. The PM maintains a negative view of the utilities sector due to high valuations, which are a result of low interest rates, though the PM notes the sector is relatively no more expensive than the broader market. 155 MANULIFE GLOBAL FUND

GLOBAL PROPERTY FUND Portfolio of Investments as at 30 June 2017 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 19,893 Dexus Property Group 131,608 144,985 0.94 70,875 Mirvac Group 96,407 116,061 0.75 71,846 Scentre Group 190,044 223,703 1.45 32,500 Stockland 95,744 109,439 0.71 60,000 Vicinity Centres 113,087 118,549 0.77 29,569 Westfield Group 154,902 182,543 1.18 781,792 895,280 5.80 Canada 7,757 H&r Real Estate Investment Trust 80,543 132,076 0.86 8,330 Riocan Real Estate Investment Trust 174,652 154,750 1.00 36,412 Temple Hotels Inc. 187,001 123,602 0.80 442,196 410,428 2.66 Cayman Islands 36,500 Cheung Kong Property Holdings Limited 194,026 285,921 1.85 4,000 Cheung Kong Property Holdings Limited 32,944 31,334 0.20 226,970 317,255 2.05 France 4,441 Klepierre 174,580 182,270 1.18 1,200 Unibail-Rodamco SE 203,247 304,554 1.98 377,827 486,824 3.16 Germany 5,896 Deutsche Wohnen AG 74,840 225,214 1.46 8,000 Tlg Immobilien AG 109,074 162,365 1.05 183,914 387,579 2.51 Hong Kong 51,000 Hang Lung Properties Limited 183,558 127,397 0.83 27,452 Henderson Land Development Company 98,008 153,150 0.99 Limited ADR 24,500 Hongkong Land Holdings Limited 106,105 180,320 1.17 80,000 Sino Land Company Limited 110,314 131,176 0.85 24,000 Sun Hung Kai Properties Limited 297,967 352,639 2.29 795,952 944,682 6.13 Ireland 70,500 Green Reit plc 104,904 114,854 0.75 143,375 Irish Residential Properties REIT plc 160,386 222,930 1.45 265,290 337,784 2.20 MANULIFE GLOBAL FUND 156

GLOBAL PROPERTY FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Japan 2,000 Daito Trust Construction Company Limited 80,240 312,021 2.02 16 Japan Real Estate Investment Corp. 79,224 79,757 0.52 40 Japan Retail Fund Investment Corp. 77,068 74,015 0.48 22,000 Mitsubishi Estate Company Limited 410,215 410,710 2.67 15,500 Mitsui Fudosan Company Limited 282,332 370,499 2.41 34 Nippon Building Fund Inc. 194,053 174,032 1.13 9,000 Sumitomo Realty & Development 178,671 278,090 1.80 Company Limited 1,301,803 1,699,124 11.03 Norway 17,000 Entra ASA 168,456 210,790 1.37 90,000 Norwegian Property ASA 136,238 111,058 0.72 304,694 321,848 2.09 Singapore 145,000 Capitacommercial Trust 159,077 174,870 1.13 63,000 Capitaland Limited 179,767 160,195 1.04 338,844 335,065 2.17 United Kingdom 22,521 British Land Company plc 255,884 176,488 1.14 18,500 Hammerson plc 198,068 137,536 0.89 11,500 Land Securities Group plc 182,018 151,892 0.99 10,000 Shaftesbury plc 125,982 126,501 0.82 761,952 592,417 3.84 United States 1,650 Alexandria Real Estate Equities Inc. 99,992 196,433 1.27 1,500 American Tower Corp. 62,209 199,320 1.29 2,271 Boston Properties Inc. 137,977 279,901 1.82 8,750 Brixmor Property Group Inc. 177,880 160,125 1.04 1,418 Coresite Realty Corp. 24,106 146,522 0.95 3,350 Corporate Office Properties Trust 82,913 117,518 0.76 3,283 Cyrusone Inc. 63,127 183,487 1.19 12,800 DDR Corp. 148,814 117,376 0.76 11,722 Diamondrock Hospitality Company 115,239 131,052 0.85 3,789 Digital Realty Trust Inc. 169,862 428,118 2.79 4,350 Douglas Emmett Inc. 59,161 166,605 1.08 1,335 Essex Property Trust Inc. 173,217 347,220 2.25 1,450 Federal Realty Investment Trust 121,132 184,991 1.20 19,730 Felcor Lodging Trust Inc. 88,291 143,240 0.93 5,200 Forest City Realty Trust Inc. A 113,736 125,216 0.81 13,621 GGP Inc. 196,180 323,226 2.10 6,000 Hersha Hospitality Trust 98,550 111,480 0.72 3,333 Hilton Worldwide Holdings Inc. 138,021 208,612 1.35 20,000 Independence Realty Trust Inc. 180,000 198,600 1.29 11,300 Invitation Homes Inc. 226,000 242,385 1.57 2,450 Kilroy Realty Corp. 122,500 184,681 1.20 10,552 Kimco Realty Corp. 142,251 196,584 1.28 3,401 Macerich Company 98,469 199,367 1.29 1,775 Mid-America Apartment Communities Inc. 112,134 186,979 1.21 15,687 Monogram Residential Trust Inc. 147,638 153,262 0.99 157 MANULIFE GLOBAL FUND

GLOBAL PROPERTY FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 18,500 Paramount Group Inc. 323,750 298,035 1.93 6,419 Park Hotels & Resorts Inc. 164,322 173,249 1.12 8,000 Physicians Realty Trust 126,000 159,920 1.04 8,258 Prologis Inc. 268,792 484,248 3.15 3,050 QTS Realty Trust Inc. A 64,050 157,899 1.02 7,775 Retail Properties of America Inc. 113,649 95,322 0.62 8,856 Rexford Industrial Realty 123,984 242,389 1.57 4,805 Simon Property Group Inc. 357,016 782,445 5.09 2,072 Sl Green Realty Corp. 64,285 219,425 1.42 5,600 Udr Inc. 140,037 219,408 1.42 4,118 Urban Edge Properties 73,593 98,997 0.64 2,700 Ventas Inc. 119,370 188,163 1.22 2,887 Vornado Realty Trust 169,680 269,328 1.75 5,207,927 8,321,128 53.98 Equities Total 10,989,161 15,049,414 97.62 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 10,989,161 15,049,414 97.62 Other transferable securities and money market instruments (2) Equities Malta 570,000 BGP Holdings plc a 0 6,512 0.04 0 6,512 0.04 Equities Total 0 6,512 0.04 Total Other transferable securities and money market instruments (2) 0 6,512 0.04 Portfolio of Investments 10,989,161 15,055,926 97.66 Other Net Assets 360,229 2.34 Net Assets 15,416,155 100.00 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 158

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 2016 TO 30 JUNE 2017* Global Property Fund Class AA +0.56% Global Property Fund Class AA (HKD) +0.55% Global Property Fund Class I3 +2.38% S&P Developed Property Total Return Index +2.59% PORTFOLIO REVIEW Stock selection in the US, Japan, and Ireland contributed positively to the sub-fund s performance. In the US, the sub-fund s overweight positions in the industrials sector and the data centre and lodging sub-sectors, as well as its underweight positions in the healthcare sector and self-storage sub-sector, contributed to performance. The sub-fund s underweight exposure to Japan, particularly to Japanese real estate investment trusts (REIT), also contributed, as did its overweight exposure to Ireland and Norway. Individual contributors included an Ireland-based residential REIT, a Norway-based real estate company, and a US industrial REIT. The Irish REIT reported strong financial results as a lack of supply in the Irish residential market led to strong operating metrics occupancy rates remained high and rents continued to increase. The market has struggled to increase supply to meet increasing demand as the Irish economy has been relatively strong. The Norwegian firm reported solid financial results, driven by an improved leasing environment throughout the year. The recovery in energy prices later in the period also supported the company as the energy sector is a significant part of Norway s economy. Furthermore, the company benefited from a lack of new supply in Oslo, where it has significant exposure. The US REIT generated strong financial results driven by strong demand for industrial assets in Southern California, and a lack of new supply led to strong rents and high occupancy rates. The company benefited from significant accretive acquisitions and continued to optimise its current portfolio of assets. The sub-fund s underweight exposure to Singapore and Europe, particularly to Spain, Sweden and Switzerland, detracted from performance. Stock selection in Australia, Canada, and Hong Kong also detracted. Individual detractors included various US retail REITs. Sluggish retail sales resulted in an increase in store closures and raised concerns that rental growth may be less likely, and that vacancy rates may begin to rise. This also increased concerns that anchor tenants, such as Sears and Macy s, may need to close more stores to remain profitable and that the retail landscape in the US is changing. This may hamper industry fundamentals in the near term. Another US retail REIT detracted from performance, as disappointing financial results highlighted weakening operating metrics that resulted * 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. 159 MANULIFE GLOBAL FUND

GLOBAL PROPERTY FUND in management being replaced. A Canadian hotel REIT also detracted, as it was negatively affected by concerns about lodging fundamentals in its major markets, which may remain weak as energy prices remain low. The company raised equity through a right offering, which also affected the stock s performance. The sub-fund maintained underweight exposure to Europe and Japan and overweight exposure to the US. The sub-fund s underweight exposure to European property companies stems from an overall weaker economic growth outlook and less attractive valuations compared with other regions. Within Europe, the sub-fund s portfolio manager favours the Nordic, Irish and German real estate markets. The sub-fund s overweight exposure to the US is the result of stronger property fundamentals and a more positive outlook on economic growth. MARKET REVIEW The global real estate sector posted positive returns during the period but underperformed broader global equity markets. Interest rates in the US rose significantly, with most of the increase occurring after the US presidential elections, as the outcome took markets by surprise. Due to the rapid increase in global interest rates, other yield-oriented investments such as real estate declined, leading to their underperformance of broader global equities markets. During the first half of the period, economic growth globally and in the US remained slow, with signs of gradual improvement in the US. In attempts to stimulate the economy, major central banks maintained their monetary easing biases as inflation remained low. In the US, economic data prompted the Fed to continue increasing its benchmark rate, which it did three times during the period. Sentiment in the US improved amid optimism that the administration s pro-growth policies will be enacted. However, expectations declined as it appeared that the administration s ability to enact such policies could take longer than anticipated given recent challenges in passing major legislation. In the latter half of the period, economic data in Europe showed signs of improvement, which led to discussion from the European Central Bank (ECB) about reducing its easing measures. The process of the UK s exit from the EU (known as Brexit ) officially started with the UK invoking Article 50, which was widely anticipated by the markets. European election results in France and the Netherlands also reduced concerns about rising populism in Europe. OUTLOOK The sub-fund s portfolio managers (PM) outlook for the real estate sector remains positive, as economic growth should encourage major central banks to maintain a balanced approach toward interest rates. Recent improvements in Europe have shifted some discussion toward a possible withdrawal of easing measures. However, inflation remains relatively low, and the PM expects interest rates to remain lower over the near term to ensure that the improvement in economic conditions is sustainable. In the US, optimism about economic growth remains high as many of the US administration s potential policies are supportive of growth. However, the pace of further interest rate hikes in the US has raised concerns that may weigh on the real estate sector over the short term. The PM expects that the sector will benefit from an improved economic outlook as companies begin to adjust to newly implemented policies. In Europe, the PM believes ongoing negotiations between the UK and the EU will keep both the Bank of England and the ECB on alert, as final agreements between the two parties have not been reached. The sector s valuation remains attractive as property companies in many regions continue to trade at discounts to their respective net asset values. Despite recent increases, interest rates remain near historically low levels. In the current environment, the PM believes the sector represents an attractive opportunity for investors who are income-oriented or risk-averse. The PM also believes interest from institutional investors may help provide a floor on valuations. Real estate fundamentals remain stable or are improving in most markets as supply remains relatively low. The PM believes expectations for improving economic conditions will continue to support the sector given the supply picture, which should lead to higher occupancy rates and rents. Higher interest rates should not be considered negative for real estate, in the PM s view, if rates are moving higher because of stronger economic growth. The PM believes increased demand for properties and higher rents should alleviate the impact of higher rates. It is also likely that property values could be driven by the lack of supply while demand for quality assets remains strong. The sector continues to offer an attractive dividend yield relative to other yield securities. MANULIFE GLOBAL FUND 160

GLOBAL RESOURCES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Australia Canada Transferable securities and money market instruments admitted to an official exchange listing (1) Equities 123,965 Aguia Resourses Limited 44,865 40,028 0.10 18,226 BHP Billiton Limited ADR 995,399 650,121 1.69 100,313 South32 Limited 106,626 206,940 0.54 8,006 South32 Limited 62,776 81,901 0.21 220,952 Western Areas NL 834,063 358,421 0.93 2,043,729 1,337,411 3.47 34,731 Agnico-Eagle Mines Limited 1,190,686 1,559,975 4.05 5,789 Agrium Inc. 561,986 522,538 1.36 12,201 Arc Energy Trust 185,774 159,643 0.41 267,973 Arizona Mining Inc. 479,734 558,191 1.45 69,694 Barrick Gold Corp. 1,192,159 1,110,846 2.88 38,905 Cameco Corp. 551,737 353,273 0.92 29,139 Canadian Natural Resources Limited 930,143 849,756 2.21 18,807 Detour Gold Corp. 296,628 217,495 0.56 18,456 Dominion Diamond Corp. 205,341 231,069 0.60 66,182 Eldorado Gold Corp. 501,734 168,493 0.44 9,767 Enbridge Inc. 384,517 391,266 1.02 14,013 First Quantum Minerals Limited 187,930 116,865 0.30 28,320 Franco-Nevada Corp. 1,366,938 2,050,698 5.33 52,990 Goldcorp Inc. 1,654,732 683,531 1.77 103,877 Lucara Diamond Corp. 139,966 219,583 0.57 133,428 Lundin Mining Corp. 548,752 758,652 1.97 6,615 Methanex Corp. 379,290 294,037 0.76 64,767 Nexgen Energy Limited 118,778 139,407 0.36 200,395 Oceanagold Corp. 430,520 615,316 1.60 10,078 Paramount Resources Limited A 379,353 147,337 0.38 15,150 Potash Corp of Saskatchewan Inc. 268,271 245,885 0.64 21,986 Seven Generations Energy A 485,342 376,554 0.98 26,250 Suncor Energy Inc. 891,997 773,608 2.01 17,344 Tahoe Resources Inc. 251,569 145,314 0.38 26,838 Teck Cominco Limited 447,573 454,892 1.18 72,374 Turquoise Hill Resources Limited 230,645 189,258 0.49 5,787 Vermilion Energy Trust 245,971 183,629 0.48 13,585 West Fraser Timber Company Limited 694,726 645,188 1.68 44,009 Wheaton Precious Metals Corp. 784,176 869,180 2.26 15,986,968 15,031,479 39.04 161 MANULIFE GLOBAL FUND

GLOBAL RESOURCES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Curacao Germany 10,264 Schlumberger Limited 878,743 673,832 1.75 878,743 673,832 1.75 8,861 BASF SE 782,266 829,094 2.15 782,266 829,094 2.15 Jersey Channel Islands 13,817 Randgold Resources Limited ADR 851,071 1,223,357 3.18 Mexico 851,071 1,223,357 3.18 35,961 Fresnillo plc 404,339 697,065 1.81 404,339 697,065 1.81 Netherlands 11,432 Lyondellbasell Industries NV A 1,004,670 966,576 2.51 Sweden 1,004,670 966,576 2.51 45,771 Boliden AB 693,032 1,255,532 3.26 693,032 1,255,532 3.26 Switzerland 25,530 Weatherford International Limited 407,626 97,525 0.25 407,626 97,525 0.25 United Kingdom 2,107 Rio Tinto plc ADR 84,360 89,316 0.23 20,680 Royal Dutch Shell plc A ADR 1,341,600 1,099,555 2.86 1,425,960 1,188,871 3.09 United States 2,759 Alcoa Corp. 70,093 91,626 0.24 11,476 Amerada Hess Corp. 652,112 501,272 1.30 15,067 Anadarko Petroleum Corp. 1,215,794 683,138 1.77 86 California Resources Corp. 370 744 0.00 9,991 Chevron Corp. 1,144,099 1,044,259 2.71 6,960 Concho Resources Inc. 739,633 838,958 2.18 23,293 Devon Energy Corp. 1,244,901 739,320 1.92 21,171 Dow Chemical Company 743,197 1,329,326 3.46 12,892 Eog Resources Inc. 1,129,647 1,165,307 3.03 11,494 Exxon Mobil Corp. 1,130,489 931,589 2.42 28,190 Freeport-McMoRan Copper & Gold 787,073 338,562 0.88 19,644 Halliburton Company 965,985 836,441 2.17 4,926 Helmerich & Payne Inc. 289,802 267,433 0.69 9,521 International Paper Company 446,429 532,795 1.38 22,212 Marathon Oil Corp. 510,608 261,435 0.68 5,753 Monsanto Company 654,593 679,314 1.76 15,216 Newmont Mining Corp. 575,392 492,085 1.28 8,186 Nucor Corp. 355,321 482,892 1.25 5,129 Phillips 66 325,089 421,655 1.09 4,983 Pioneer Natural Resources Company 724,379 795,337 2.07 MANULIFE GLOBAL FUND 162

GLOBAL RESOURCES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 15,642 Range Resources Corp. 931,057 365,084 0.95 1,030 Sherwin-Williams Company 272,826 362,467 0.94 36,804 Southern Copper Corp. 1,079,390 1,281,515 3.33 7,131 Valero Energy Corp. 348,142 477,706 1.24 16,336,421 14,920,260 38.74 Equities Total 40,814,825 38,221,002 99.25 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 40,814,825 38,221,002 99.25 Portfolio of Investments 40,814,825 38,221,002 99.25 Other Net Assets 287,891 0.75 Net Assets 38,508,893 100.00 (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

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 2016 TO 30 JUNE 2017* Global Resources Fund Class AA -1.92% Global Resources Fund Class l3-0.16% Global Resources Customized Index** +0.00% PORTFOLIO REVIEW Security selection within the metals and mining sub-industry contributed to the sub-fund s performance. Higher exploration and production exposure in the energy component of the portfolio detracted from performance due to the sub-industry s declines. MARKET REVIEW The last 12 months proved to be a volatile period in resource markets, as recovery from the cyclical lows of early 2016 met renewed challenges near the end of the year. Softness in precious metals and energy markets both contributed to declines within the sub-fund and resource markets overall. After experiencing strong returns during the first half of 2016, energy and materials markets parted ways during the latter half of the year, with higher oil and natural gas prices pushing the former higher while softer prices for gold and other precious metals caused difficulties for the latter. In energy, oil prices experienced strong and steady gains as investors took stock of the Organization of the Petroleum Exporting Countries (OPEC) agreement in November to cut production starting in 2017. After more than two years of low prices that overstretched many budgets and spurred unrest in some countries, OPEC and non-opec producers finally reached their first deal since 2001 to curtail oil output jointly and ease a global supply glut. In gold and precious metals, results were less favourable during the first half of the period. After reaching a 2-year high of US$1,366 per ounce by July, gold prices retreated to a recent low of US$1,125 per ounce by mid-december. The more bearish investor sentiment towards gold was also evident in exchange traded fund (ETF) holdings, which investors continued to liquidate. Gold producers posted very strong, double-digit returns during the first and second quarters of 2016 as the gold price rose and recovery ensued. However, returns were negative during the last two quarters of the year, with the stronger US dollar and rising equity markets following the US elections creating even greater challenges for the metal s price. Elsewhere in mining, investments in the diversified metals and mining sub-industry contributed as higher prices for copper, nickel, zinc and other materials helped support higher valuations. The commodity price response to China s recent stimulus spending and potential infrastructure spending in the US was swift and strong and, in some cases, not fully supported by underlying fundamentals, as evidenced by softness in December. The second half of the period proved challenging for resource markets, however. North American and global oil prices tested lows close to US$40 per barrel near the end of the period, and base and precious metals prices (other than copper) experienced rollovers following their strong increases in late 2016. * 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 164

GLOBAL RESOURCES FUND In the energy sector, the MSCI World Energy Index experienced a second consecutive quarter of declines, mirroring the drop in crude oil prices, where global (Brent) and North American (West Texas Intermediate) declined 9% during the most recent quarter and by roughly 14% year-to-date. The primary driver of the negative drift in oil prices was the deterioration in the commercial crude oil inventory trend, which damaged sentiment and contributed to the declines experienced during the most recent quarter. Oil prices tested year-to-date lows of US$42 per barrel by the third week of June before recovering to the US$46 per barrel level by month-end following a more optimistic view of North American and global demand. Elevated inventory levels continued to be a concern, as the market expected production cuts by OPEC to have had a more material impact in the first half of 2017. In the materials sector, strong gains made in the paper and forest products as well as containers and packaging industries were overshadowed by contributions from metals & mining, given the latter s larger weight inside the portfolio. Gold prices recovered from one-year lows of US$1,125 per ounce in December and helped provide a much-needed boost to investments in the precious metals sub-sector during the latter half of the period, rising 15% on a peak-to-trough basis, aided by a softening US dollar that had rolled over during most of 2017. However, after reaching a year-to-date high close to US$1,300 per ounce in June, prices retreated 2% in the final month to finish the period slightly lower (down 6%) as investors began discounting the likelihood of major central banks (the Fed, European Central Bank, Bank of England) attempting to navigate a careful reduction in their stimulus policies soon. Outside precious metals, investments in the diversified metals and mining sub-sector were relatively flat during the latter half of the period, with investments in the copper sector rising in response to a late recovery. While prices for economic bellwether copper recovered from short-term softness, others experienced net year-to-date declines. Nickel prices declined 11% following softening demand for stainless steel and relaxation of export rules in Indonesia. Iron ore prices were also under pressure, declining from a recent high of US$89 per tonne to a US$50-55 per tonne range as Chinese steel restocking rolled over. Relatedly, metallurgical coal prices also softened. After two short-term price increases above US$300 per tonne over the last 12 months due to supply disruptions during a period of strong Chinese demand for steel fabrication, prices settled close to the US$145 per tonne range following a normalisation of supply, primarily from Australia. While various supply and demand fundamentals came together to affect various metals prices, the overall sentiment was not as favorable as it was going into 2017 as investors became increasingly cautious about a possible slowdown in China and reduced expectations of the US administration s ability to deliver on promises for increased infrastructure spending and reduced corporate tax rates. OUTLOOK The sub-fund s portfolio manager (PM) believes the global oil supply/demand balance should move into a stronger position through the summer, lessening the overhang of elevated inventory levels. OPEC s decision to extend its output cut into 2018 should support the overall balance. However, at oil prices above US$45 barrel, the US shale producers will likely attempt to increase production, providing a cap on oil prices until balance sheets limit their growth. Outside of the energy sector, declining inventory levels for zinc, aluminium, and others continue to support an improving story for diversified miners the sector has benefited from an increase in commodity prices brought on by a potentially resurgent US and policy actions in China; a broadening out of the global industry recovery; and constrained supply. In precious metals, uncertainty on the geopolitical front in the US and possibly Europe could provide some short-term support for gold prices, benefiting as confidence in the US dollar and other currencies wanes. However, investment demand could be dampened due to two key factors: at least one more interest rate increase is expected in the US before the end of the year, and other central banks could be looking to reduce unconventional monetary stimulus levels soon. Although share prices in the resource sector may experience continued volatility, supply (production) has responded to the lower price environment. As investments in future production initiatives are curtailed across most commodities, there is a risk of insufficient investment for future supply needs. In the short term, the PM continues to find opportunities to invest in quality companies at attractive valuations. Over the longer term, the PM believes that demand for commodities may increase as emerging markets and developed economies continue to grow. 165 MANULIFE GLOBAL FUND

GREATER CHINA OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2017 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 298,000 Beijing Enterprises Water Group Limited 187,790 231,337 1.34 210,000 China Animal Healthcare Limited a 136,465 0 0.00 108,000 China Gas Holdings Limited 167,717 218,040 1.26 491,972 449,377 2.60 Cayman Islands 8,500 AAC Acoustic Technologies Holdings Inc. 91,264 106,273 0.61 8,404 Alibaba Group Holding Limited 706,147 1,180,341 6.83 1,535 Baidu.com ADR 272,922 274,504 1.59 12,000 Bizlink Holding Inc. 81,222 84,812 0.49 44,968 Cheung Kong Property Holdings Limited 243,658 352,254 2.03 227,000 China Everbright Greentech Limited 157,529 154,120 0.89 63,000 China Medical System Holdings Limited 84,584 108,951 0.63 334,000 China Resources Cement Holdings Limited 131,364 166,010 0.96 61,555 China Resources Land Limited 147,335 179,391 1.04 24,968 CK Hutchison Holdings Limited 299,675 313,448 1.81 380,000 Grand Baoxin Auto Group Limited 183,216 182,545 1.06 107,000 JNBY Design Limited 88,273 88,958 0.51 50,000 Minth Group Limited 132,797 212,009 1.23 10,000 Parade Technologies Limited 134,071 122,945 0.71 32,800 Sands China Limited 144,397 150,212 0.87 152,000 Sino Biopharmaceutical 136,210 134,353 0.77 41,300 Tencent Holdings Limited 618,404 1,477,138 8.54 81,000 Vinda International Holdings 133,190 163,945 0.95 5,529 Weibo Corp. ADR 148,473 367,181 2.12 3,934,731 5,819,390 33.64 China 111,000 China Communications Construction 110,082 143,046 0.83 Company Limited H 726,000 China Construction Bank Corp. 562,115 562,662 3.25 63,000 China Life Insurance Company Limited H 192,762 192,480 1.11 384,000 China Molybdenum Company Limited 143,394 147,082 0.85 472,000 China National Materials Company 149,561 157,811 0.91 297,000 China Oilfield Services Limited 247,019 238,170 1.38 292,000 China Petroleum & Chemical Corp. 248,520 227,801 1.32 5,514 Ctrip.com International Limited ADR 243,799 299,190 1.73 39,900 Huayu Automotive Systems Company 133,111 142,573 0.82 Limited A ** 786,000 Industrial & Commercial Bank of China 543,411 530,627 3.07 662,000 Maanshan Iron & Steel 224,186 264,587 1.53 68,000 Ping An Insurance Group Company of 341,220 448,178 2.59 China Limited 28,000 Zhengzhou Yutong Bus Company 87,507 90,682 0.52 Limited A ** 3,226,687 3,444,889 19.91 MANULIFE GLOBAL FUND 166

GREATER CHINA OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Hong Kong 83,800 AIA Group Limited 439,392 612,428 3.55 15,200 Asm Pacific Technology Limited 147,227 205,424 1.19 55,500 BOC Hong Kong Holdings Limited 180,881 265,546 1.54 190,000 China Foods Limited 85,781 80,563 0.47 43,500 China Mobile Hong Kong Limited 526,651 461,676 2.68 146,000 China Unicom Hong Kong Limited 190,018 216,954 1.25 265,000 Cnooc Limited 327,268 290,247 1.68 35,000 Galaxy Entertainment Group Limited 203,043 212,522 1.23 8,700 Hong Kong Exchanges and Clearing Limited 210,418 224,904 1.30 152,500 Kingboard Laminates Holdings Limited 184,658 184,025 1.06 19,000 Link Real Estate Investment Trust 113,870 144,576 0.84 55,400 Swire Properties Limited 166,530 182,744 1.06 39,500 Techtronic Industries Company 148,995 181,655 1.05 2,924,732 3,263,264 18.90 Taiwan 11,000 Asmedia Technology Inc. 114,418 114,086 0.66 135,336 China Life Insurance Company Limited 123,609 134,802 0.78 173,000 Compeq Manufacturing Company 128,892 141,038 0.82 29,000 Delta Electronics Inc. 153,067 158,727 0.92 38,000 Foxsemicon Integrated Technology Inc. 140,452 196,120 1.13 51,064 Hota Industrial Manufacturing 248,937 251,795 1.45 Company Limited 1,000 Largan Precision Company Limited 74,801 159,434 0.92 18,000 MediaTek Inc. 127,042 154,142 0.89 24,000 Quang Viet Enterprise Company Limited 138,246 139,250 0.81 6,000 St Shine Optical Company Limited 126,097 125,443 0.73 57,000 Taiwan Paiho Limited 173,160 214,546 1.24 169,838 Taiwan Semiconductor Manufacturing 665,554 1,164,074 6.73 Company Limited 21,096 Tci Company Limited 74,551 134,190 0.78 31,000 Tong Hsing Electronic Industries Limited 115,851 128,911 0.75 56,000 Yageo Corp. 140,509 195,135 1.13 2,545,186 3,411,693 19.74 United Kingdom 22,800 HSBC Holdings plc 186,125 212,191 1.23 186,125 212,191 1.23 United States 5,400 Yum China Holdings Inc. 145,768 209,520 1.21 145,768 209,520 1.21 Equities Total 13,455,201 16,810,324 97.23 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 13,455,201 16,810,324 97.23 Portfolio of Investments 13,455,201 16,810,324 97.23 Other Net Assets 478,147 2.77 Net Assets 17,288,471 100.00 ** The security is valued with the off-shore FX rate of CNH (refer to note 2.2 on page 254) 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. 167 MANULIFE GLOBAL FUND

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 2016 TO 30 JUNE 2017* Greater China Opportunities Fund Class AA +25.88% Greater China Opportunities Fund Class I +27.08% MSCI AC Golden Dragon Index +30.91% PORTFOLIO REVIEW Stock selection and the underweight in Hong Kong contributed positively to performance. One stock that performed well was a Macau casino operator that rallied on the back of the Macau gaming sector s healthy gross gaming revenue growth. Several of the sub-fund s holdings in Chinese information technology companies were also key contributors to performance. The top contributor was one of the leading micro blogging platforms in China that reported stronger-than-expected earnings due to revenue growth on all business segments, and a continuously expanding user base. Revenue guidance for the second quarter also came above consensus forecasts. The Chinese utilities sector contributed positively to performance, especially gas distribution companies, as the Government continues to push its environmental protection initiatives. Stock selection in Taiwan negatively impacted performance. The main detractor was a Taiwanese automotive components manufacturer holding that specialises in sensors and electronic car parts after it reported weak October sales. The sub-fund s exposure to the energy sector negatively impacted performance; oil prices were volatile as Organization of the Petroleum Exporting Countries (OPEC) and non-opec members decision to extend their production cut was offset by mounting concerns on weak demand and a supply glut. However, this was partly offset by stock selection in Taiwanese consumer staples and the underweight in Taiwanese telecoms. MARKET REVIEW The Greater China equity markets (the markets) had a strong start during the period in review due to companies reporting mostly better-than-expected earnings during the third quarter reporting season, and as China s Producer Price Index (PPI) rose from a 55-month deflation in September and continued through May 2017. This was supportive of pricing power returning to corporates, as well as an improvement of the banking industry s asset quality. By the latter part of 2016, the markets reacted negatively to the strengthening dollar and higher bond yields post US President Donald Trump s victory. This raised concerns on the impact of his campaign platforms to inflation and the future path of the Fed s hiking cycle, as well on the future trade relations between the US and the Asian economies. During the first half of 2017, the markets rallied on the back of notable improvements in economic data in China as well as on better-than-expected first quarter earnings and positive guidance (especially from technology and internet related sectors). Taiwan s exports expanded for eight consecutive months in May given solid demand for high tech gadgets and components, which is supportive of the exportoriented economy. Market participants reaction was muted when Moody s downgraded China and Hong Kong s sovereign credit rating in May. By June, MSCI announced the inclusion of the country s A-shares in their global equity indices in two phases starting May 2018; it is a vote of confidence for China to further financial reforms and develop capital markets. Despite the Fed hiking policy rates thrice by 25 basis points (bps) each in December, March, and June to 1.25%, the markets remained resilient as the Fed maintained a dovish outlook on the tightening cycle. * 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 168

GREATER CHINA OPPORTUNITIES FUND OUTLOOK The sub-fund s portfolio manager (PM) remains constructive on the Greater China equity markets despite the good year-to-date performance, as upward revisions on earnings are still stronger than expected. In China, the PM added exposure to the healthcare sector given expectations of a sales pickup driven by the potential new drugs from the tendering process. In Taiwan, the PM expects a super product cycle to stem from the production of the Organic Light- Emitting Diode-based (OLED-based) iphone 8, with the launch date in September. The PM remains positive on electronic component companies that will benefit from new features in smartphones such as dual cameras and 3D sensing for facial recognition. The PM also likes auto parts companies that are seeing stronger orders from Tesla for its upcoming new car model. 169 MANULIFE GLOBAL FUND

HEALTHCARE FUND Portfolio of Investments as at 30 June 2017 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 875,280 3SBio Inc. 1,027,316 1,161,616 0.39 1,027,316 1,161,616 0.39 Denmark 267,220 Novo-Nordisk A/S 12,448,449 11,471,755 3.83 12,448,449 11,471,755 3.83 France 84,558 Sanofi-Aventis SA 8,454,613 8,165,876 2.73 8,454,613 8,165,876 2.73 Germany 24,386 Fresenius Medical Care AG & Company KGaA 2,274,875 2,354,430 0.79 59,563 Fresenius SE 3,320,540 5,123,315 1.71 74,368 Merck KGaA 6,430,474 8,959,214 2.99 12,025,889 16,436,959 5.49 Ireland 53,645 Allergan plc 15,687,479 13,085,625 4.37 34,002 Icon plc 2,445,186 3,359,738 1.12 95,210 Medtronic Inc. 6,509,031 8,467,025 2.82 60,777 Perrigo Company 5,861,239 4,603,858 1.54 30,502,935 29,516,246 9.85 Japan 68,465 Shionogi & Company Limited 3,409,822 3,821,315 1.28 3,409,822 3,821,315 1.28 Jersey Channel Islands 60,753 Shire plc ADR 9,299,873 10,015,132 3.34 9,299,873 10,015,132 3.34 Switzerland 117,437 Novartis AG ADR 9,363,021 9,881,149 3.30 46,358 Roche Holding AG 12,203,793 11,879,707 3.97 21,566,814 21,760,856 7.27 United Kingdom 195,219 Astrazeneca plc 12,304,635 13,115,195 4.38 363,090 Glaxosmithkline plc 8,122,797 7,749,449 2.59 310,372 Smith & Nephew plc 5,225,251 5,355,806 1.79 25,652,683 26,220,450 8.76 United States 128,885 Abbott Laboratories 4,795,817 6,314,076 2.11 125,977 AbbVie Inc. 6,821,446 9,130,813 3.05 63,248 Amgen Inc. 8,012,130 10,944,434 3.65 42,041 Becton Dickinson & Company 4,466,707 8,231,628 2.75 52,325 Biogen Idec Inc. 14,847,680 14,244,959 4.76 20,560 Bio-Rad Laboratories Inc. A 2,626,128 4,626,411 1.54 26,162 Bioverativ Inc. 1,282,371 1,566,319 0.52 62,220 Bristol-Myers Squibb Company 3,381,772 3,479,965 1.16 MANULIFE GLOBAL FUND 170

HEALTHCARE FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 40,478 Celgene Corp. 4,879,888 5,271,855 1.76 19,327 Cooper Companies Inc. 3,285,248 4,607,557 1.54 55,740 CVS Health Corp. 3,817,719 4,468,118 1.49 57,982 Eli Lilly & Company 3,629,203 4,782,355 1.60 64,829 Emergent Biosolutions Inc. 1,970,769 2,158,157 0.72 149,611 Express Scripts Inc. 10,611,281 9,563,135 3.19 153,825 Gilead Sciences Inc. 14,940,083 10,913,884 3.64 87,118 Globus Medical Inc. A 1,840,105 2,911,484 0.97 98,420 Halozyme Therapeutics Inc. 1,248,386 1,276,507 0.43 38,304 Integer Holdings Corp. 1,120,402 1,666,224 0.56 152,600 Johnson & Johnson 17,008,656 20,280,539 6.76 211,866 Merck & Company Inc. 11,626,465 13,603,915 4.54 102,955 Mimedx Group Inc. 915,829 1,535,059 0.51 27,335 Parexel International Corp. 1,613,621 2,377,052 0.79 331,050 Pfizer Inc. 11,034,065 11,126,591 3.71 30,990 Stryker Corp. 2,476,510 4,312,568 1.44 35,293 United Health Group Inc. 6,062,511 6,559,204 2.19 37,746 Zimmer Holdings Inc. 3,472,290 4,842,434 1.62 147,787,082 170,795,243 57.00 Equities Total 272,175,476 299,365,448 99.94 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 272,175,476 299,365,448 99.94 Portfolio of Investments 272,175,476 299,365,448 99.94 Other Net Assets 188,058 0.06 Net Assets 299,553,506 100.00 (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. 171 MANULIFE GLOBAL FUND

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 2016 TO 30 JUNE 2017* Healthcare Fund Class AA +8.10% MSCI World/Health Care Index +9.83% PORTFOLIO REVIEW Contributors to the sub-fund s performance include a research and laboratory products manufacturer that has been executing well. However, the sub-fund s portfolio manager (PM) believes that most of the outperformance was a result of the company approaching an inflection point in margins beginning in 2018. The company s management has been vocal about this, which has attracted new investors. The PM still thinks the stock is inexpensive compared to its competitors. Furthermore, 2018 is only the first year of the company s multi-year margin expansion ramp. A biopharmaceutical company contributed due to its previously depressed valuation and the successful launch of its new drug. The PM believes the company s stock is at such an attractive valuation that the sub-fund is not paying much for the company s product pipeline at this point. A drug manufacturer holding detracted from performance due to the company s inability to turn around the business. The PM believes the stock is attractive at the current level with solid core business franchises. The company is actively seeking new management. A pharmacy healthcare services holding detracted given its loss of market share to its competitors in both the pharmacy benefit management and retail pharmacy businesses. The PM has since trimmed the sub-fund s position in the company. MARKET REVIEW The healthcare sector underperformed the broader equity market due to political uncertainty. The MSCI World (Net) Total Return Index returned 18.20%, while the MSCI World Health Care Total Return Index returned 10.40%. The medical device and equipment sub-sector had the strongest return, while the pharmaceutical sub-sector had the weakest. OUTLOOK The market previously had been volatile due to political pressure. The PM had stated that the political pressure was more noise than actual policy direction, and the market has since proved that. With the latest version of the US health bill favourable to the industry, the sector continues to recover. Increased pricing pressure from private payers on biotechnology and pharmaceutical industries, however, can still be observed. In response to this trend, the PM has picked companies that focus on research and development and have truly meaningful pipelines. Also, many truly innovative companies stocks suffered along with the broader sector. The PM believes the current environment represents an attractive entry point for many high-quality 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. MANULIFE GLOBAL FUND 172

INDIA EQUITY FUND Portfolio of Investments as at 30 June 2017 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 183,219 Apollo Hospitals Enterprise Limited 3,755,826 3,612,815 1.48 62,557 Bajaj Finserv Limited 3,988,593 3,986,158 1.63 57,367 Britannia Industries Limited 3,243,443 3,275,011 1.34 443,384 Cadila Healtcare Limited 3,291,993 3,602,316 1.48 1,287,299 Crompton Greaves Consumer 4,546,818 4,509,934 1.85 Electricals Limited 193,847 Dalmia Bharat Limited 6,271,319 7,406,647 3.04 2,111,765 Federal Bank Limited 3,168,950 3,686,935 1.51 126,899 Godrej Consumer Products Limited 2,428,766 1,900,627 0.78 403,921 Grasim Industries Limited 7,301,680 7,761,960 3.19 554,605 Hcl Technologies Limited 6,607,809 7,300,972 2.99 462,334 Hdfc Bank Limited 7,330,186 11,816,734 4.85 296,748 Hindustan Lever Limited 3,936,154 4,956,430 2.03 503,309 Housing Development Finance Corp. 9,709,649 12,575,122 5.16 2,406,499 Icici Bank Limited 10,095,149 10,802,560 4.43 848,758 Icici Prudential Life Insurance Company 4,587,594 6,192,643 2.54 369,749 India Infoline Limited 2,226,669 3,478,853 1.43 750,401 Indian Oil Corp. Limited 3,082,500 4,471,962 1.83 248,434 IndusInd Bank Limited 3,883,092 5,684,377 2.33 613,592 Infosys Technologies Limited 9,099,775 8,881,066 3.64 2,159,699 ITC Limited 7,984,483 10,814,021 4.44 258,674 Kotak Mahindra Bank Limited 3,572,663 3,824,859 1.57 254,395 Larsen & Toubro Limited 6,253,405 6,641,963 2.72 710,114 Mahindra & Mahindra Financial Services 3,665,930 3,789,681 1.55 89,441 Maruti Suzuki India Limited 6,275,987 9,987,294 4.10 506,255 Motherson Sumi Systems Limited 2,705,609 3,618,509 1.48 13,653 Page Industries Limited 3,037,715 3,535,229 1.45 358,105 Pidilite Industries Limited 4,142,575 4,463,219 1.83 340,520 Reliance Industries Limited 5,562,048 7,270,095 2.99 212,732 Repco Home Finance Limited 2,167,313 2,715,056 1.11 358,486 Sadbhav Engineering Limited 1,334,025 1,730,672 0.71 623,853 Sh Kelkar & Company Limited 2,855,183 2,545,617 1.04 690,542 Sobha Developers Limited 3,880,042 3,935,755 1.61 235,866 Supreme Industries Limited 3,889,765 4,480,344 1.84 173 MANULIFE GLOBAL FUND

INDIA EQUITY FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets India (continued) 885,323 Tata Motors Limited 5,052,305 5,924,565 2.43 472,553 Tata Steel Limited 3,914,957 3,989,906 1.64 226,090 Tci Express Limited 1,441,140 1,723,910 0.71 728,313 Titan Industries Limited 5,107,719 5,909,361 2.42 447,304 Trent Limited 1,691,747 1,640,097 0.67 103,734 United Spirits Limited 3,869,295 3,849,037 1.58 598,344 Vrl Logistics Limited 3,141,271 3,102,014 1.27 237,465 Whirlpool of India Limited 4,427,199 4,182,094 1.72 384,608 Yes Bank Limited 7,200,501 8,708,221 3.57 661,395 Zee Telefilms 4,497,562 5,027,710 2.06 196,226,404 229,312,351 94.04 Equities Total 196,226,404 229,312,351 94.04 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 196,226,404 229,312,351 94.04 Other transferable securities and money market instruments (2) Equities India 126,899 Godrej Consumer Product 0 1,900,627 0.78 222,037 Icici Bank Limited 0 996,704 0.41 0 2,897,331 1.19 Equities Total 0 2,897,331 1.19 Total Other transferable securities and money market instruments (2) 0 2,897,331 1.19 Portfolio of Investments 196,226,404 232,209,682 95.23 Other Net Assets 11,622,261 4.77 Net Assets 243,831,943 100.00 (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. MANULIFE GLOBAL FUND 174

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 2016 TO 30 JUNE 2017* India Equity Fund Class AA +23.14% India Equity Fund Class I2 +24.18% MSCI India 10/40 Index +17.85% PORTFOLIO REVIEW During the period under review, volatility was high in India and domestic factors were the main drivers of the markets. Indian markets initially saw a rally, but during the latter part of the first half, markets corrected after the Indian government took the surprise step to demonetize high denomination notes, affecting money supply and economic activities. The markets also saw the surprise victory of Donald Trump in the US presidential elections in November, creating a lot of uncertainty for US-focused businesses in India like IT services and pharmaceuticals. During the second half of the period, Indian markets saw a sustained rally along with currency appreciation due to two key factors which contributed to performance. Firstly, the Indian Union Budget was presented in the beginning of February, which focused on fiscal prudence and sharper spending focus. Secondly, the ruling party of the Central Government Bharatiya Janata Party (BJP) emerged victorious in the state assembly polls in March, and this augured well for political and policy stability. On the domestic front, India saw a better country balance sheet as current account deficit came down, forex reserves went to all-time highs, and inflation went to an all-time low, pushing up real rates. High real rates attracted strong foreign institutional investor (FII) inflows, and as a result, the Indian rupee also appreciated during the period. Inflation has fallen to historic lows, driven by lower food prices and stable oil prices. Despite a relatively good macro backdrop, aggregate demand has yet to show a decisive bounce-back, keeping capacity utilization low and industrial output weak. This is mainly caused by the stress in the rural economy, which was reeling under the pressures of lower global prices in agro-commodities, as well as back to back years of below normal rainfall in 2014 and 2015. With normal rainfalls in CY2016, and projection of normal monsoons in CY2017 by the Indian Meteorological Department some alleviation of stress in rural India is expected going forward. * 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. 175 MANULIFE GLOBAL FUND

INDIA EQUITY FUND There were three important policy developments during the period which could have a far reaching impact going forward: 1) GST bill The long-awaited GST bill saw continued legislative progress after becoming law in September 2016, and is now set to be implemented from 1 July 2017. GST will unify India into a single market and is expected to raise productivity and ease of doing business over the coming years. This is also likely to reduce tax avoidance and expand the tax base in India. 2) Demonetization The government demonetized existing INR500 and INR1000 notes in November 2016. The primary motive was to eliminate unaccounted stashes of cash to help fight corruption, as well as reduce tax avoidance, money laundering and terrorist financing. 3) Push on affordable housing The government has identified affordable housing as a key area in its infrastructure development plan, providing various incentives which will lower borrowing cost and improve affordability for a large section of home buyers The PM believes this scheme can potentially kick-start housing demand in India and start the household capex cycle again. The sub-fund was overweight in financials, consumer staples, real estate, and consumer discretionary. The focus of the sub-fund was to play on domestic consumption, increase in domestic savings, and increasing formalization of the economy. With that perspective, within financials, the sub-fund was primarily overweight on retail lending-focused names, as well as wealth management and insurance companies which are beneficiaries of rising financial savings. During the period, the portfolio was underweight in cyclical and capital intensive sectors like energy, telecom and capital goods names within the industrial basket. The portfolio was underweight in healthcare as the sector is facing pricing pressure in the US market and increased regulatory scrutiny. The portfolio was also underweight in information technology owing to the sector facing disruption-led challenges and weak earnings outlook. Stock selection in energy, financials, consumer discretionary, and healthcare were big contributors to performance. From an allocation point of view, an underweight in information technology, healthcare, telecommunication, as well as an overweight allocation in financials were the major positive contributors. On the other hand, stock selection in utilities and industrials were the main detractors. MANULIFE GLOBAL FUND 176

INDIA EQUITY FUND MARKET REVIEW During the first three months of the period (1 July 2016 to 30 September 2016), Indian markets rallied along with other emerging markets. July saw a sharp rally due to overall emerging markets rallying and attracting passive inflows, as well as expectation of the GST bill passing in the legislature fueling risk-on sentiments. August saw a marginal rally as the GST bill got passed in the upper house and the earnings season was in-line with expectations. The new RBI governor was announced; since he was already the deputy governor of the RBI, it meant relief on policy continuity for the market. September saw correction in India despite emerging markets doing well, as cautious commentary from technology and banking sectors dampened investor sentiment. During the following quarter (1 October 2016 to 31 December 2016), markets were driven down by the shock of demonetization and underperformed. October saw markets consolidating in line with broader emerging markets with the US presidential elections looming on the horizon. On the other hand, the new RBI governor cut rates in line with market expectations by 25bps amid falling inflation and weak industrial growth. November saw a sharp correction in India, underperforming broader emerging markets as demonetization got announced. During December, the markets consolidated even as other emerging markets rallied, as the Indian markets tried to process how the after effects of demonetization will play out going forward on the Indian economy. During the third quarter of the period under review (1 January 2017 to 31 March 2017), Indian markets rallied on a sustained basis every month, outperforming other emerging markets. The rally in January was fuelled by better than expected earnings vs. muted expectations after demonetization. February saw a rally after the budget was presented. It aimed at reducing fiscal deficit and improved quality of spending and steered clear of excessive populist measures. In March, the market continued to rally after the surprising strength of the BJP in state assembly polls; it cemented Prime Minister Modi s authority within the BJP and the government. This should be positive for implementation of the Central Government s agenda, which is centered around anti-corruption, indirect tax reform, and state spending on infrastructure, housing and rural development. During the fourth quarter under review (1 April 2017 to 30 June 2017), Indian markets gave positive returns but underperformed other regional markets (and the broad emerging market basket), as the market took a breather from the strong performance in the previous three months and considered the uncertainties emerging from the upcoming GST implementation on 1 July 2017. Overall, Indian markets gave strong positive returns. Materials, energy, industrials, financials, consumer staples, and consumer discretionary performed the best and outperformed the markets. Healthcare, information technology, telecommunication, and utilities underperformed. 177 MANULIFE GLOBAL FUND

INDIA EQUITY FUND OUTLOOK The PM remains optimistic on the domestically driven India story in times of global uncertainty. Due to prudent policy-making both by the government and RBI, and with help from falling crude prices, India s macro has continued to remain stable with lower current account deficit and all time high foreign currency reserves. Despite lower nominal rates, real rates are at a high due to falling inflation. This has led to more financial savings joining formal avenues like bank deposits, equities, bonds, insurance (as opposed to real estate and gold earlier), and cost of funds has come off. The PM is bullish on financials like mid-sized private banks, wealth managers, and insurance. The PM also likes autos as affordability improves with lower financing costs. The PM is also optimistic that the Indian economy will formalize driven by GST implementation and become more efficient and tax compliant. This also opens opportunity for the organized sector to gain market share for companies in organized retail, apparels, jewellery and light electrical companies and the PM is bullish on them. Keeping these themes in mind, the PM is overweight in financials, consumer discretionary, real estate, cement stocks within materials, and consumer staples. The PM has recently increased weight in consumer staples as it has emerged as a key beneficiary of lower tax rates under GST. The PM is underweight in technology owing to the sector facing disruption-led challenges and a weak earnings outlook. The PM also remains negative and underweight on telecom, which is capital-intensive and seeing disruptive competition. The PM is underweight in healthcare, where large players are seeing generic drugs price erosion in US and regulatory challenges. The PM is also underweight on global cyclicals like energy. MANULIFE GLOBAL FUND 178

JAPANESE GROWTH FUND Portfolio of Investments as at 30 June 2017 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 70,500 Acom Company Limited 323,971 322,512 0.51 143,000 Chiyoda Corp. 831,730 842,901 1.32 25,500 Chugai Pharmaceutical Company Limited 894,271 956,193 1.50 58,100 Concordia Financial Group Limited 256,799 293,557 0.46 119,400 Dai-ichi Mutual Life Insurance Company 1,706,901 2,157,696 3.39 5,700 Daito Trust Construction Company Limited 891,320 889,259 1.40 8,000 Eisai Company Limited 458,587 442,661 0.70 6,800 Fanuc Limited 1,159,609 1,313,126 2.06 21,600 Fujitec Company Limited 219,799 282,568 0.44 51,100 Glory Limited 1,548,827 1,676,903 2.63 41,400 H2O Retailing Corp. 573,338 754,237 1.19 85,100 Hakuhodo Dy Holdings Inc. 1,032,250 1,131,479 1.78 6,800 Hoshizaki Electric Company Limited 613,535 616,087 0.97 39,600 Hoya Corp. 1,557,281 2,059,806 3.23 99,500 Isuzu Motors Limited 1,185,891 1,229,775 1.93 77,600 Itochu Corp. 929,571 1,154,935 1.81 56,900 Japan Tobacco Inc. 2,095,327 2,002,713 3.15 7,900 Kao Corp. 412,119 470,027 0.74 86,800 KDDI Corp. 2,581,956 2,302,745 3.62 12,600 Lasertec Corp. 98,123 175,618 0.28 213,500 Matsushita Electric Industrial 2,006,654 2,901,496 4.56 Company Limited 82,900 Mazda Motor Corp. 1,223,226 1,159,150 1.82 24,000 Meitec Corp. 859,904 1,024,077 1.61 285,900 Mitsubishi Ufj Financial Group Inc. 1,514,466 1,924,355 3.02 69,600 Mitsui & Company Limited 865,736 996,457 1.57 127,000 Mitsui Fudosan Company Limited 2,801,169 3,035,699 4.77 78,600 Nikkiso Company Limited 584,084 756,982 1.19 8,700 Nippon Telegraph & Telephone Corp. 297,226 411,958 0.65 30,900 Nishio Rent All Company Limited 756,965 986,463 1.55 169,600 Nissan Motor Company Limited 1,631,456 1,690,857 2.66 24,300 Optex Company Limited 0 570,356 787,680 1.24 25,500 Pola Orbis Holdings Inc. 578,593 673,541 1.06 130,500 Recruit Holdings Company Limited 1,704,109 2,247,149 3.53 11,300 Sankyo Tateyama Inc. 169,609 172,714 0.27 59,100 Santen Pharmaceutical Company Limited 717,184 803,178 1.26 159,700 Sanwa Holdings Corp. 1,529,647 1,686,148 2.65 18,100 Sato Holdings Corp. 404,270 454,195 0.71 8,600 Secom Company Limited 584,217 653,781 1.03 67,400 Sekisui Chemical Company Limited 979,057 1,208,680 1.90 399,900 Seven Bank Limited 1,179,800 1,433,563 2.25 14,600 Shin-Etsu Chemical Company Limited 1,020,020 1,326,029 2.08 179 MANULIFE GLOBAL FUND

JAPANESE GROWTH FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Japan (continued) 18,000 Shionogi & Company Limited 914,193 1,004,654 1.58 25,900 Softbank Corp. 1,459,217 2,101,054 3.30 29,100 Sumisho Computer Systems 1,178,843 1,307,864 2.05 75,300 Sumitomo Mitsui Financial Group Inc. 2,413,711 2,940,417 4.62 288,000 Sumitomo Osaka Cement Company Limited 1,257,996 1,368,860 2.15 22,700 Sushiro Global Holdings Limited 718,135 670,028 1.05 21,100 Toyota Industries Corp. 1,038,897 1,112,011 1.75 16,100 Toyota Motor Corp. 898,495 846,061 1.33 222,600 Yahoo! Japan Corp. 896,306 970,674 1.53 52,124,746 59,730,573 93.85 Equities Total 52,124,746 59,730,573 93.85 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 52,124,746 59,730,573 93.85 Portfolio of Investments 52,124,746 59,730,573 93.85 Other Net Assets 3,917,317 6.15 Net Assets 63,647,890 100.00 (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

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 2016 TO 30 JUNE 2017* Japanese Growth Fund Class A +21.81% Japanese Growth Fund Class AA +21.50% Japanese Growth Fund Class I3 +23.70% TOPIX Index +20.73% PORTFOLIO REVIEW The strongest performances in the sub-fund came from a Japanese multinational electronics corporation, a Japanese multinational banking and financial services company and a top-tier Japanese life insurance company. The mentioned electronics corporation is performing well partly due to the positive news about the smooth operation of their electric vehicle (EV) battery production. The most negative contributors (as compared to the benchmark) were a Japanese telecommunications operator and a Japanese multinational consumer electronics and video game company which we do not own in the portfolio. MARKET REVIEW The market rose continuously over the 12 months. In the first six months, this was driven by yen weakness as the currency declined from 100 to under 115 versus the US dollar. Since January, the currency stabilised, fluctuating between 110 and 115. The market, however, continued to rally on the back of stronger global trade and an improving domestic economy. The Japanese unemployment rate fell below 3%, despite an increase in the number of people joining the workforce. The jobs-to-applicants ratio hit a new high of 1.49 in May. The labour market tightened, but core consumer price index (CPI) remains weak. However, towards the end of the 12 months, the markets began to talk about the possibility of rising inflation later in 2017 as the Bank of Japan and other central banks indicated a more hawkish outlook for monetary policy. Over the 12 months, the best performing sectors were other products (mainly Nintendo), insurance, and brokers. The worst performing sector was pharmaceuticals. The pharmaceutical sector was hit by concerns both before and after the US elections about the US government acting on drug prices. The best performing stocks over the 12 months included Showa Denko, which benefited from improving profit margins in some of its core petrochemicals. The worst performer was Ono Pharmaceutical which suffered from an unexpected 50% price cut in its cancer drug Opdivo. * 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

JAPANESE GROWTH FUND OUTLOOK Up until recently, Japan was the lone outsider of political certainty in a world of political uncertainty, and chaotic election and referendum outcomes. Now, things aren t looking so rosy for Mr Abe in Japan either after the fallout from various scandals related to Mr Abe and his family. The election outcome of the Tokyo Metropolitan Government elections was a landslide for Ms Koike s new Tomin First Party and a disappointment for the Liberal Democratic Party (LDP). It should be noted that these are only local and national elections. Outside of Brexit, unexpected political outcomes have had a limited impact on equity markets. All the earnings announcements for the March fiscal year end are now complete. It is now clear that earnings growth stagnated in 2016 as the yen strengthened and companies struggled to grow sales, both at home and overseas. Despite this, earnings growth remained positive with several strong performers, including construction and machinery companies. Japanese companies are also expecting earnings growth in 2017. However, most companies are showing restraint in their optimism, using currency forecasts of 100 or 105 yen/us dollar. This implies that upward earnings revisions should be possible over the course of the year, which would be supportive for a further rise in the equity market. There were notable strong earnings growth forecasts for next year from Sony, Tokyo Electron, and Fujitsu among others. Japan remains the cheapest developed market on both price to earnings and price to book. Japan s return on equity (ROE) has also been steadily improving and currently stands at 8%. The sub-fund s portfolio manager (PM) believes this could reach 10% by 2018. Although this is still below the US (13%), it is on a faster growth path. One of the drivers for higher ROE is the record level of share buybacks. Most Japanese corporates have a net cash position giving them ample opportunity to make further buybacks in 2017. MANULIFE GLOBAL FUND 182

LATIN AMERICA EQUITY FUND Portfolio of Investments as at 30 June 2017 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 Argentina 8,245 Banco Macro Bansud SA ADR 607,547 752,769 1.44 17,764 Empresa Distribuidora Y Comercializadora 455,668 554,237 1.06 Norte 20,444 Grupo Supervielle 334,096 367,992 0.70 18,215 Pampa Energia Sa ADR 565,281 1,070,313 2.04 1,962,592 2,745,311 5.24 Bermuda 10,951 Credicorp Limited 1,102,344 1,973,918 3.77 1,102,344 1,973,918 3.77 Brazil 290,301 Ambev SA ADR 1,609,413 1,595,204 3.05 392,107 Banco Bradesco SA ADR 2,738,389 3,313,303 6.34 110,580 Banco Itau Holding Financeira SA 1,295,361 1,227,499 2.34 182,600 BB Seguridade Participacoes SA 1,531,427 1,564,632 2.99 256,300 BM&F Bovespa SA 995,027 1,527,851 2.92 380,422 BR Malls Participacoes SA 1,282,745 1,350,544 2.58 138,811 BRF Brasil Foods SA ADR 1,779,029 1,615,760 3.08 91,400 Companhia de Concessoes Rodoviarias 468,965 457,311 0.87 28,662 Companhia de Transmissao de Energia 639,804 551,288 1.05 Eletrica Paulista 99,700 Hypermarcas SA 637,110 841,340 1.61 266,694 Itau Unibanco Holding SA ADR 2,655,254 2,954,970 5.64 146,000 Klabin SA 712,817 724,321 1.38 410,400 Kroton Educacional SA 1,547,514 1,809,123 3.45 207,636 Linx SA 802,274 1,091,584 2.08 166,920 Lojas Renner SA 901,090 1,356,644 2.59 208,750 Movida Participacoes SA 502,363 633,867 1.21 151,548 Petroleo Brasileiro SA ADR 1,649,318 1,119,940 2.14 79,800 Raia Drogasil SA 1,019,955 1,696,664 3.24 35,700 Smiles SA 390,127 644,483 1.23 91,300 Ultrapar Participacoes SA 2,064,597 2,134,267 4.07 166,600 Weg SA 661,567 892,461 1.70 25,884,146 29,103,056 55.56 Chile 333,346 Parque Arauco SA 766,361 840,775 1.61 182,935 Saci Falabella 1,646,620 1,482,583 2.83 2,412,981 2,323,358 4.44 Luxembourg 79,950 Adecoagro SA 877,843 789,107 1.51 877,843 789,107 1.51 183 MANULIFE GLOBAL FUND

LATIN AMERICA EQUITY FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Mexico Peru 479,400 Alpek SA de CV 562,182 581,080 1.11 249,700 Alsea SAB de CV 880,270 956,209 1.83 536,100 Banco del Bajio SA 869,569 944,658 1.80 283,019 Becle SA de CV 456,523 488,496 0.93 443,670 Bolsa Mexicana de Valores SAB de CV 827,624 787,944 1.50 503,005 Corporacion Inmobiliaria Vesta SAB de CV 905,487 744,248 1.42 21,554 Fomento Economico Mexicano 1,350,613 2,106,041 4.02 SA de CV ADR 235,000 Grupo Aeroportuario del Centro Norte 665,070 1,408,695 2.69 SAB de CV 383,283 Grupo Financiero Banorte SAB de CV 1,743,373 2,445,622 4.67 869,415 Grupo Hotelero Santa Fe SAB de CV 507,745 514,845 0.98 301,300 Infraestructura Energetica Nova SAB de CV 1,420,079 1,618,173 3.09 16,045 Promotora y Operadora de Infraestructura 210,717 141,026 0.27 SAB de CV 124,072 Promotora y Operadora de Infraestructura 1,281,820 1,503,185 2.87 SAB de CV 500,031 Qualitas Controladora SAB de CV 723,563 836,977 1.60 12,404,635 15,077,199 28.78 3 Grana y Montero SA 0 2 0.00 0 2 0.00 Equities Total 44,644,541 52,011,951 99.30 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 44,644,541 52,011,951 99.30 Portfolio of Investments 44,644,541 52,011,951 99.30 Other Net Assets 365,857 0.70 Net Assets 52,377,808 100.00 (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 184

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 2016 TO 30 JUNE 2017* Latin America Equity Fund Class AA +9.08% MSCI Latin America 10/40 Index +15.40% PORTFOLIO REVIEW The sub-fund generated a positive return over the 12-month period under review, albeit one that lagged underlying markets. This underperformance was primarily the result of stock selection in Brazil and Mexico. The value-focused commodities rally in Brazil dominated for much of the period under review. While portfolio holdings continued to post strong gains and delivered on their investment expectations, they failed to keep pace. This optimism over commodity prices may prove short-lived and will over time be outstripped by the high quality, strong cashflow generation of the companies in the portfolio. The managers decision to keep raising Argentina exposure over the last 12-months has been rewarded as utilities have benefited from dramatic tariff revisions and banks are beginning to position themselves for a multi-year growth phase. Fundamentals remain supportive. Over the period under review, the sub fund s exposure to Mexico was reduced in favour of a higher exposure to Argentina. On a sector analysis, exposure to real estate, energy and utilities rose as exposure to financials and consumer discretionary fell. The sub-fund currently has a substantial overweight exposure to Argentina, counterbalanced by an underweight exposure to both Chile and Colombia. Exposure to Brazil is marginally overweight, with Mexico marginally underweight. Exposure to the materials sector remains significantly underweight, whilst the sub-fund has an overweight exposure to both consumer discretionary and financials. MARKET REVIEW Latin American stockmarkets were generally firmer across the 12-month period ending 31 June 2017, though underperforming emerging markets more widely. Share prices were however unusually volatile, with all markets in thrall to the US presidential election process, and Brazil dominated by political developments. The frontier market of Argentina secured the strongest gains after it removed capital controls and made further progress along the path to reform under the Macri administration, though it failed to secure reclassification as an MSCI emerging market at the very end of the period under review. Colombia made the smallest gains despite signing an historic peace deal with the FARC leftist rebel group. All eyes were however on the US presidential elections given candidate Donald Trump s threat to tear up trade agreements and pursue an overtly nationalistic agenda if elected. When Trump somewhat surprisingly won the election in November to become the 45th president of the United States, stockmarkets and currencies therefore reacted negatively with sharp falls across the region in anticipation of the hit to GDP that would inevitably follow a reduction in exports to the US. This however proved to be a low point with markets soon beginning to recover as it became apparent that President Trump was back-pedalling on some of his more extreme pre-election rhetoric and indeed having difficulty in getting any of his campaign promises enacted. Mexico, given its close proximity to, and close dependency upon, the US was most impacted by these developments. * 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. 185 MANULIFE GLOBAL FUND

LATIN AMERICA EQUITY FUND In Brazil, the region s largest market, share prices also reacted sharply to Trump s election having shown marked strength beforehand as the removal of Dilma Rousseff from office had seemed to draw a line under recent political scandals and herald a period of relative sobriety in which to pursue much needed economic and social reform under the more centrist Michel Temer as president. And indeed this appeared to be happening with the economy improving and some reforms enacted, until any renewed confidence was sorely dashed in May when Temer was alleged to have been party to a bribery scandal, prompting sharp falls in share prices. These developments have now thrown doubt over the process of pension reform, without which the nation s finances cannot be fixed, and threaten to stop the economy s nascent recovery in its tracks. Nevertheless, Brazilian shares still generated a strong return over the period as a whole, supported in part by commodity prices, which were also heavily influenced by hopes for accelerating world economic growth led by the US under President Trump. OUTLOOK Politics will be an increasing focus over the next 18 months with presidential elections in Chile, Mexico, Brazil and Colombia as well as key mid-terms in Argentina, the sub-fund s managers are optimistic that the trend is towards more market-friendly policies across the region. The economic backdrop is also improving with GDP growth gathering pace and inflation falling in most countries. This should drive operating leverage and earnings growth, thus supporting share prices. Brazil remains under a cloud with President Temer by no means secure in office. Pension reform is now at risk and may have to be tackled after the 2018 presidential election. However, the economy is in a much better position than at the time of Dilma Rousseff s impeachment in 2016. Inflation is now below 4.0%, the central bank cut rates 1.0% to 10.25% in May and should have additional room to cut to around 8.5% to 9.0% by year end, unemployment is now falling for the first time in two years and GDP growth is beginning to strengthen. Consequently, while political uncertainty could extend until new presidential elections in 2018, there is still room for Brazil to deliver meaningful earnings growth over the next two years and while the sub-fund s exposure to Brazil has fallen, the managers still see an attractive risk-reward in Brazil and remain overweight. Political uncertainty in Mexico, compounded by risks associated with the Trump-inspired NAFTA renegotiation, as well as a relatively poor economic position, continue to support an underweight exposure. This is compounded by risks associated with the Trump-inspired NAFTA renegotiation and with inflation now eroding real wages, with interest rates expected to rise further in order to anchor inflation expectations, and with the strength of the consumer likely to come under pressure the managers retain an underweight position. The opportunity set remains attractive. Despite the political uncertainty, the sharp fall in Brazil after the infamous tape recording of Temer was released has reduced several names that may have been missed in 2016 to more appealing valuations. Increasing comfort that Trump is unlikely to deliver on his more extreme plans for US-Mexico relations similarly leaves the country offering several investment options. MANULIFE GLOBAL FUND 186

RUSSIA EQUITY FUND Portfolio of Investments as at 30 June 2017 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 Kazakhstan 435,087 KazMunaiGas Exploration Production GDR 4,822,474 4,102,870 4.36 4,822,474 4,102,870 4.36 Netherlands 147,347 Yandex NV A 3,119,189 3,854,598 4.09 3,119,189 3,854,598 4.09 Russian Federation 699,034 Gazprom OAO ADR 3,100,068 2,760,485 2.93 547,278 Lenta Limited Reg 6,016,598 3,187,894 3.39 187,730 Lukoil PJSC ADR 11,050,422 9,134,004 9.70 409,511 Megafon OAO GDR Reg 4,031,772 3,754,192 3.99 50,278 NovaTek OAO GDR 4,405,202 5,613,540 5.95 237,795 Phosagro OAO GDR 3,168,568 3,168,619 3.37 75,752 Phosagro OAO 1,021,878 1,009,395 1.07 540,308 Rosneft Oil Company GDR 3,071,199 2,946,029 3.13 871,828 Rosneft OJSC 5,053,284 4,753,643 5.04 325,292 Severstal GDR 3,437,016 4,249,940 4.51 3,506 Tatneft ADR 112,904 131,948 0.14 106,750 Tatneft ADR 3,281,590 4,017,536 4.27 549,397 Tmk PJSC GDR 4,698,753 2,892,575 3.07 169,729 X5 Retail Group NV GDR Reg 3,160,883 5,893,839 6.25 55,610,137 53,513,639 56.81 United Kingdom 365,116 Kaz Minerals plc 2,080,734 2,485,844 2.64 220,246 Nostrum Oil & Gas plc 2,076,939 1,343,492 1.43 4,157,673 3,829,336 4.07 Equities Total 67,709,473 65,300,443 69.33 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 67,709,473 65,300,443 69.33 187 MANULIFE GLOBAL FUND

RUSSIA EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities Equities Russian Federation 1,603,018 Alrosa Company Limited 1,834,212 2,350,084 2.50 2,006,953 Detsky Mir Pjsc Dsky Rm 2,888,744 3,175,251 3.37 18,467 Magnit Ojsc 3,074,668 2,851,002 3.02 3,411,679 Moscow Exchange Micex 5,488,162 6,019,880 6.39 1,702,232 Sberbank RF 1,914,883 4,188,430 4.45 477,903 Surgutneftegas Ojsc Pfd 227,625 231,387 0.25 8,315,618 Surgutneftegaz Pfd 4,812,493 4,024,493 4.27 94,879,356 Unipro Pjsc Upro Rm 5,373,485 4,000,588 4.25 25,614,272 26,841,115 28.50 Equities Total 25,614,272 26,841,115 28.50 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities 25,614,272 26,841,115 28.50 Portfolio of Investments 93,323,745 92,141,558 97.83 Other Net Assets 2,046,997 2.17 Net Assets 94,188,555 100.00 (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 188

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 2016 TO 30 JUNE 2017* Russia Equity Fund Class AA +15.67% MSCI Russia 10/40 Index +12.88% PORTFOLIO REVIEW The sub-fund generated a strong return over the 12-month period ending 30 June 2017, significantly ahead of the underlying market. This outperformance could be ascribed to its off-benchmark positions in Kazakhstan as well as its stock selection in Russia itself. Over the period under review, the sub fund s exposure to the materials and financials sectors was reduced significantly in favour of a higher exposure to energy. MARKET REVIEW Russian shares moved broadly higher over the 12-month period ending 30 June 2017. In the absence of any significant domestic developments, this appreciation most probably reflects an improvement in underlying activity as the economy gradually emerges from a prolonged recession. GDP is now expected to grow by between 1% and 2% in 2017. At the same time inflation, which was running as high as 13% as recently as 2015, looks set to end 2017 below its official 4% target as the central bank has kept interest rates comparatively high. Although interest rates are now coming down, with the central bank s key rate falling from 10.5% to 9.0% over the period under review, these cuts have not kept pace with the fall in inflation with real interest rates therefore remaining stubbornly high. This in turn has helped to support the value of the rouble, which has managed to avoid many of the gyrations seen in other emerging market currencies as the US dollar has first risen, and then fallen, in reaction to the election of President Trump. The oil price is another factor that can have a marked impact on the value of Russian assets, be it shares prices or the currency. Oil, as measured by Brent Crude, both started and finished the 12-month period at a price of just under USD50 per barrel having been above USD55 per barrel over the early months of 2017 following a rare agreement amongst OPEC members, subsequently joined by other countries including Russia, to limit production in order to help support prices. These developments, although seeming to have little impact on the value of the rouble, where high real interest rates tended to dominate, did have some influence over share prices. This was evident from the spike in share prices seen around the end of the year. At their best, Russian share prices were some 30% above the levels prevailing at the beginning of the period under review, in US dollar terms, though they ended the period up little more than 10%. The high value of the rouble relative to oil tended to benefit consumer-related stocks, especially those with an import focus, though it was a negative for commodity companies whose revenues are largely in US dollars but costs predominantly in roubles. Separately, there was persistent speculation over much of the period under review that the government would force state-owned enterprises to increase their dividend payouts to 50% of IFRS 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. 189 MANULIFE GLOBAL FUND

RUSSIA EQUITY FUND OUTLOOK The approach of the sub-fund s managers has always been more suited to markets that care about company-specific factors rather than being driven by top-down factors and momentum. During such phases the sub-fund is well positioned to produce a strong performance relative to underlying markets. Against a stable macroeconomic and political environment in Russia at present the managers are looking forward to markets being driven by fundamentals over the coming months. Following a period of underperformance relative to emerging markets, recent weakness may prove an excellent entry point for long term investors in Russia. MANULIFE GLOBAL FUND 190

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 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 Australia Brazil Canada Germany 355,000 New South Wales Treasury Corp. 6.000% 1/May/2020 235,000 Queensland Treasury Corp. 4.000% 21/Jun/2019 70,000 Queensland Treasury Corp. 5.500% 21/Jun/2021 105,000 Queensland Treasury Corp. 6.000% 21/Jul/2022 320,000 Queensland Treasury Corp. 6.250% 21/Feb/2020 382,181 302,233 0.72 212,532 187,754 0.45 61,438 60,321 0.14 94,283 94,196 0.23 261,725 272,140 0.65 1,012,159 916,644 2.19 320 Brazil (Govt of) 10.000% 1/Jan/2018 102,214 92,340 0.22 102,214 92,340 0.22 512,000 Canada (Govt of) 1.750% 1/Sep/2019 391,943 400,227 0.96 220,000 Canada Housing Trust 1.700% 15/Dec/2017 175,970 170,340 0.41 55,000 Canada Housing Trust No 1 1.250% 41,565 42,027 0.10 15/Dec/2020 140,000 Export Developement Canada 3.250% 131,558 107,783 0.26 8/Aug/2017 290,000 Export Developement Canada 3.500% 244,340 214,131 0.51 20/Feb/2018 80,000 Ontario Canada (Province of) 4.200% 66,344 66,394 0.16 2/Jun/2020 1,051,720 1,000,902 2.40 80,000 Kreditanstalt fuer Wiederaufbau 3.750% 29/May/2020 54,578 60,057 0.14 54,578 60,057 0.14 191 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Indonesia 2,324,000,000 Indonesia (Govt of) 7.000% 15/May/2022 179,471 176,956 0.42 1,307,000,000 Indonesia (Govt of) 7.000% 15/May/2027 98,490 99,479 0.24 925,000,000 Indonesia (Govt of) 7.500% 15/Aug/2032 69,377 70,123 0.17 2,291,000,000 Indonesia (Govt of) 8.250% 15/Jul/2021 177,298 181,428 0.43 1,280,000,000 Indonesia (Govt of) 8.375% 15/Mar/2024 105,287 104,169 0.25 2,088,000,000 Indonesia (Govt of) 8.375% 15/Sep/2026 175,080 173,118 0.41 1,318,000,000 Indonesia (Govt of) 8.750% 15/May/2031 111,342 111,681 0.27 611,000,000 Indonesia (Govt of) 9.000% 15/Mar/2029 50,352 52,331 0.13 Mexico 966,697 969,285 2.32 125,000 Banco Nacional 4.375% 14/Oct/2025 124,648 129,946 0.31 22,660 Mexico (Govt of) Bonos 4.750% 14/Jun/2018 170,022 123,432 0.29 40,125 Mexico (Govt of) Bonos 6.500% 10/Jun/2021 235,472 222,309 0.53 18,885 Mexico (Govt of) Bonos 7.750% 29/May/2031 117,014 112,629 0.27 18,885 Mexico (Govt of) Bonos 8.000% 11/Jun/2020 103,913 108,857 0.26 23,200 Mexico (Govt of) Bonos 8.000% 7/Dec/2023 212,325 137,941 0.33 17,915 Mexico (Govt of) Bonos 8.500% 13/Dec/2018 109,415 101,788 0.24 51,295 Mexico (Govt of) Bonos 10.000% 5/Dec/2024 402,970 339,802 0.81 1,475,779 1,276,704 3.04 New Zealand 90,000 New Zealand (Govt of) 3.000% 15/Apr/2020 64,242 67,227 0.16 270,000 New Zealand (Govt of) 5.000% 15/Mar/2019 217,791 207,422 0.50 240,000 New Zealand (Govt of) 5.000% 15/Mar/2019 205,178 184,375 0.44 110,000 New Zealand (Govt of) 6.000% 15/Dec/2017 87,021 81,978 0.20 315,000 New Zealand (Govt of) 6.000% 15/Dec/2017 260,196 235,042 0.56 295,000 New Zealand (Govt of) 6.000% 15/May/2021 284,464 244,838 0.58 55,000 New Zealand (Govt of) 6.000% 15/May/2021 47,016 45,648 0.11 Norway 1,165,908 1,066,530 2.55 3,323,000 Norway (Govt of) 4.500% 22/May/2019 643,981 425,072 1.02 643,981 425,072 1.02 Philippines 3,075,000 Philippine (Govt of) 4.950% 15/Jan/2021 70,239 63,425 0.15 20,000,000 Philippine (Govt of) 6.250% 14/Jan/2036 587,286 450,412 1.07 Portugal 657,525 513,837 1.22 85,000 Portugal (Govt of) 5.125% 15/Oct/2024 84,505 86,809 0.21 84,505 86,809 0.21 Republic of Korea (South) 24,610,000 Korea (Govt of) 0.000% 10/Sep/2017 17,333 21,456 0.05 24,610,000 Korea (Govt of) 0.000% 10/Mar/2018 16,998 21,306 0.05 24,610,000 Korea (Govt of) 0.000% 10/Sep/2018 16,650 21,129 0.05 50,981 63,891 0.15 Singapore 520,000 Singapore (Govt of) 3.250% 1/Sep/2020 454,067 399,884 0.96 454,067 399,884 0.96 MANULIFE GLOBAL FUND 192

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Supranational 175,000 Asian Development Bank 4.625% 6/Mar/2019 130,005 132,588 0.32 125,000 Asian Development Bank 5.000% 9/Mar/2022 116,601 106,258 0.25 6,590,000 Asian Development Bank 5.900% 102,056 101,931 0.24 20/Dec/2022 7,080,000 Asian Development Bank 6.450% 8/Aug/2021 106,594 112,344 0.27 2,040,000 Asian Development Bank 6.950% 31,329 32,460 0.08 16/Jan/2020 195,000 Inter-American Development Bank 6.500% 207,018 163,585 0.39 20/Aug/2019 175,000 International Bank for Reconstruction & 134,957 136,327 0.33 Development 2.800% 13/Jan/2021 1,110,000 International Bank for Reconstruction & 166,624 142,055 0.34 Development 3.625% 22/Jun/2020 195,000 International Bank for Reconstruction & 168,116 147,780 0.35 Development 4.625% 26/Feb/2019 300,000 International Bank for Reconstruction & 234,308 232,486 0.55 Development 4.625% 6/Oct/2021 6,800,000 International Bank for Reconstruction & 103,627 105,658 0.25 Development 5.750% 28/Oct/2019 290,000 International Finance Corp. 3.250% 236,341 228,055 0.54 22/Jul/2019 820,000 Nordic Investment Bank 1.375% 15/Jul/2020 99,520 98,955 0.24 1,837,096 1,740,482 4.15 Sweden 430,000 Sweden (Govt of) 5.000% 1/Dec/2020 72,075 60,323 0.14 72,075 60,323 0.14 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 9,629,285 8,672,760 20.71 Mortgage and Asset Backed Securities United States 61,845 Connecticut Avenue Securities FRN 25/Oct/2028 61,845 63,332 0.15 61,845 63,332 0.15 Mortgage and Asset Backed Securities Total 61,845 63,332 0.15 Australia Canada Bonds 55,000 Westpac Banking Corp. 5.000% 21/Oct/2019 101,499 77,959 0.19 100,000 Westpac Banking Corp. 7.250% 11/Feb/2020 121,053 85,767 0.20 222,552 163,726 0.39 170,000 Enbridge Inc. 4.250% 1/Dec/2026 171,334 178,014 0.43 60,000 Transcanada Pipelines Limited 3.750% 62,327 63,116 0.15 16/Oct/2023 20,000 TransCanada PipeLines Limited 4.875% 22,191 22,427 0.05 15/Jan/2026 255,852 263,557 0.63 193 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Denmark 1,595,000 Realkredit Danmark A/S 1.000% 1/Apr/2018 237,421 247,806 0.59 237,421 247,806 0.59 Germany 300,000 Kreditanstalt fuer Wiederaufbau 6.000% 344,521 255,903 0.61 20/Aug/2020 95,000 Landeskreditbank Baden-Wuerttemberg 69,854 71,024 0.17 Foerderbank 3.875% 29/May/2019 414,375 326,927 0.78 Ireland 115,000 Shire Acquisitions Investments Ireland 114,863 112,693 0.27 Limited 3.200% 23/Sep/2026 114,863 112,693 0.27 Luxembourg 140,000 Actavis Funding SCS 3.450% 15/Mar/2022 139,801 144,696 0.35 120,000 Actavis Funding SCS 3.800% 15/Mar/2025 119,574 124,286 0.30 259,375 268,982 0.65 Mexico 1,690,000 America Movil SAB de CV 7.125% 111,360 90,337 0.22 9/Dec/2024 170,000 Cemex SAB de CV 6.125% 5/May/2025 169,966 183,735 0.44 220,000 Mexico City Airport Trust 4.250% 221,536 225,697 0.54 31/Oct/2026 120,000 Mexico City Airport Trust 5.500% 116,387 121,886 0.29 31/Oct/2046 60,000 Petroleos Mexicanos 6.000% 5/Mar/2020 59,273 64,533 0.15 26,885 Petroleos Mexicanos 7.650% 24/Nov/2021 222,898 145,228 0.35 901,420 831,416 1.99 Netherlands 50,000 E.ON International Finance BV 6.000% 97,342 72,197 0.17 30/Oct/2019 97,342 72,197 0.17 Singapore 250,000 CapitaMalls Asia Treasury Limited 3.950% 183,486 182,440 0.44 24/Aug/2017 250,000 Temasek Financial 3.265% 19/Feb/2020 184,113 190,375 0.45 367,599 372,815 0.89 United Kingdom 45,000 Astrazeneca plc 1.750% 16/Nov/2018 45,603 45,054 0.11 45,603 45,054 0.11 MANULIFE GLOBAL FUND 194

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States 160,000 3M Company 3.000% 7/Aug/2025 159,384 162,816 0.39 280,000 Abbott Laboratories 2.950% 15/Mar/2025 268,954 273,563 0.65 140,000 AbbVie Inc. 1.800% 14/May/2018 139,318 140,155 0.33 160,000 AbbVie Inc. 3.600% 14/May/2025 159,720 164,013 0.39 300,000 American International Group Inc. FRN 397,858 405,951 0.97 15/May/2058 195,000 American Tower Corp. 4.700% 15/Mar/2022 200,236 211,453 0.50 186,000 American Water Capital Corp. 3.400% 185,769 192,918 0.46 1/Mar/2025 100,000 Anheuser-Busch InBev 1.250% 17/Jan/2018 99,922 99,887 0.24 145,000 Anheuser-Busch InBev Finance Inc. 2.650% 146,766 147,025 0.35 1/Feb/2021 160,000 Anheuser-Busch InBev Finance Inc. 3.650% 167,536 165,022 0.39 1/Feb/2026 130,000 Antero Resources Corp. 5.625% 1/Jun/2023 133,656 132,390 0.32 65,000 Anthem Inc. 3.500% 15/Aug/2024 64,396 66,629 0.16 315,000 Apple Inc. 3.200% 13/May/2025 313,642 322,562 0.77 165,000 Aramark Services Inc. 5.125% 15/Jan/2024 172,938 173,888 0.42 225,000 Bac Capital Trust XIV FRN 29/Sep/2049 193,431 196,476 0.47 210,000 Ball Corp. 4.000% 15/Nov/2023 207,273 215,255 0.51 190,000 Ball Corp. 5.250% 1/Jul/2025 203,379 210,004 0.50 155,000 Bankunited Inc. 4.875% 17/Nov/2025 153,490 161,611 0.39 145,000 CA Inc. 4.700% 15/Mar/2027 145,626 149,203 0.36 249,000 CCO Holdings LLC 5.750% 15/Jan/2024 249,895 263,209 0.63 105,000 Chubb INA Holdings Inc. 3.350% 3/May/2026 106,735 107,731 0.26 100,000 Citigroup Inc. FRN 29/Dec/2049 104,493 107,177 0.26 95,000 Comcast Corp. 2.350% 15/Jan/2027 94,886 89,288 0.21 95,000 Concho Resources Inc. 4.375% 15/Jan/2025 95,000 97,299 0.23 185,000 Constellation Brands 3.750% 1/May/2021 186,466 193,196 0.46 310,000 Constellation Brands 4.250% 1/May/2023 315,035 331,192 0.80 100,000 Costco Wholesale Corp. 1.700% 15/Dec/2019 99,952 99,875 0.24 225,000 Crown Americas LLC 4.500% 15/Jan/2023 219,124 236,020 0.57 125,000 Crown Cork & Seal Company 7.375% 130,853 145,333 0.35 15/Dec/2026 215,000 CVS Health Corp. 3.875% 20/Jul/2025 212,837 224,509 0.54 130,000 Delta Air Lines Inc. 3.625% 15/Mar/2022 129,982 133,778 0.32 80,000 Discover Financial Services 5.200% 86,713 86,856 0.21 27/Apr/2022 14,000 Electronic Arts Inc. 4.800% 1/Mar/2026 15,404 15,391 0.04 175,000 Eli Lilly & Company 2.750% 1/Jun/2025 174,662 175,292 0.42 100,000 Enterprise Products Operating LLC 3.350% 101,526 102,813 0.25 15/Mar/2023 30,000 Enterprise Products Operating LLC 5.200% 32,798 32,651 0.08 1/Sep/2020 165,000 Exxon Mobil Corporation 2.709% 6/Mar/2025 165,000 164,361 0.39 130,000 First Niagara Financial Group Inc. 7.250% 133,497 153,931 0.37 15/Dec/2021 128,000 Ford Motor Company 6.625% 1/Oct/2028 132,087 151,853 0.37 100,000 Ford Motor Company 6.625% 1/Oct/2028 124,442 118,636 0.28 195 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 130,000 General Electric Capital Corp. 4.250% 109,230 96,114 0.23 17/Jan/2018 45,000 General Electric Capital Corp. 6.250% 90,505 68,088 0.16 29/Sep/2020 191,000 General Electric Company FRN 29/Dec/2049 163,922 202,791 0.48 120,000 General Motors Financial Company Inc. 120,185 126,869 0.30 4.375% 25/Sep/2021 45,000 Goodyear Tire & Rubber Company 8.750% 48,825 53,318 0.13 15/Aug/2020 65,000 Great Plains Energy 3.150% 1/Apr/2022 64,951 65,855 0.16 235,000 HCA Inc. 5.000% 15/Mar/2024 235,420 249,342 0.60 245,000 HCA Inc. 7.500% 15/Feb/2022 263,457 282,008 0.67 35,000 HCA Inc. 8.000% 1/Oct/2018 36,296 37,713 0.09 124,000 Home Depot Inc. 2.700% 1/Apr/2023 124,250 126,120 0.30 150,000 Host Hotels & Resorts LP 4.750% 160,401 160,416 0.38 1/Mar/2023 85,000 Humana Inc. 3.950% 15/Mar/2027 84,895 88,685 0.21 22,000 IBM Corp. 1.950% 12/Feb/2019 22,188 22,121 0.05 100,000 IBM Corp. 2.750% 21/Dec/2020 162,701 137,567 0.33 160,000 JPMorgan Chase & Company 3.200% 156,525 158,094 0.38 15/Jun/2026 115,000 JPMorgan Chase & Company 3.300% 113,365 114,521 0.27 1/Apr/2026 140,000 Kraft Foods Group 6.125% 23/Aug/2018 152,111 146,623 0.35 300,000 Kraft Heinz Foods Company 3.950% 300,619 309,538 0.74 15/Jul/2025 130,000 Lowe s Companys Inc. 2.500% 15/Apr/2026 124,998 124,961 0.30 35,000 Magellan Midstream Partners LP 5.000% 38,585 38,882 0.09 1/Mar/2026 220,000 Merck & Company Inc. 2.750% 10/Feb/2025 220,201 219,745 0.52 155,000 Mgic Investment Corp. 5.750% 15/Aug/2023 155,000 167,402 0.40 100,000 Micron Technology Inc. 7.500% 15/Sep/2023 110,699 111,815 0.27 105,000 Microsoft Corp. 1.850% 12/Feb/2020 105,267 105,268 0.25 90,000 Microsoft Corp. 3.125% 3/Nov/2025 89,977 92,117 0.22 205,000 Microsoft Corp. 3.300% 6/Feb/2027 208,931 211,597 0.50 160,000 Molson Coors Brewing Company 3.000% 157,388 154,784 0.37 15/Jul/2026 65,000 Mplx LP 4.125% 1/Mar/2027 66,421 65,573 0.16 125,000 Mplx LP 5.500% 15/Feb/2023 130,209 129,141 0.31 50,000 Newfield Exploration Company 5.375% 51,861 51,946 0.12 1/Jan/2026 143,000 Newfield Exploration Company 5.625% 152,906 149,102 0.36 1/Jul/2024 225,000 Outfront Media Cap LLC 5.625% 15/Feb/2024 231,891 235,892 0.56 112,000 Pfizer Inc. 1.500% 15/Jun/2018 111,956 112,063 0.27 115,000 Philip Morris International Inc. 3.375% 117,576 118,004 0.28 11/Aug/2025 20,000 Praxair Inc. 3.200% 30/Jan/2026 21,266 20,517 0.05 220,000 Pvh Corp. 4.500% 15/Dec/2022 218,755 226,604 0.54 110,000 Scripps Networks Interactive Inc. 3.950% 109,791 113,452 0.27 15/Jun/2025 165,000 Spectrum Brands Inc. 5.750% 15/Jul/2025 178,807 176,983 0.42 90,000 Suntrust Banks Inc. FRN 15/Jun/2022 90,000 91,503 0.22 MANULIFE GLOBAL FUND 196

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 90,000 Time Warner Inc. 3.800% 15/Feb/2027 89,654 90,604 0.22 155,000 T-Mobile USA Inc. 6.125% 15/Jan/2022 156,940 162,910 0.39 70,000 T-Mobile USA Inc. 6.125% 15/Jan/2022 71,225 73,573 0.18 70,000 T-Mobile USA Inc. 6.500% 15/Jan/2026 73,488 77,345 0.18 100,000 T-Mobile USA Inc. 6.625% 1/Apr/2023 106,100 106,052 0.25 110,000 Transcontinental Gas Pipe Line Company LLC 142,815 141,992 0.34 7.850% 1/Feb/2026 85,000 Tribune Media Company 5.875% 15/Jul/2022 86,999 89,403 0.21 185,000 United Rentals North America Inc. 4.625% 190,668 192,332 0.46 15/Jul/2023 90,000 United Rentals North America Inc. 5.500% 90,525 92,798 0.22 15/May/2027 265,000 UnitedHealth Group Inc. 3.750% 15/Jul/2025 264,282 280,548 0.67 291,000 USB Capital IX FRN 29/Oct/2049 206,829 259,159 0.62 65,000 Verisk Analytics Inc. 4.000% 15/Jun/2025 68,397 67,186 0.16 280,000 Wachovia Capital Trust III FRN 29/Aug/2049 253,955 281,938 0.67 225,000 Walgreens Boots Alliance Inc. 3.800% 232,893 234,017 0.56 18/Nov/2024 75,000 Wells Fargo & Company FRN 27/Jul/2021 55,988 58,397 0.14 80,000 Wells Fargo & Company 3.250% 27/Apr/2022 60,078 61,299 0.15 60,000 Williams Companys Inc. 4.550% 24/Jun/2024 61,700 61,814 0.15 115,000 Williams Partners LP 3.750% 15/Jun/2027 114,941 114,136 0.27 110,000 Williams Partners LP 4.875% 15/May/2023 111,766 114,139 0.27 13,966,255 14,343,988 34.27 Bonds Total 16,882,657 17,049,161 40.74 Bonds convertibles Netherlands 100,000 Bayer Capital Corp. BV 5.625% 22/Nov/2019 107,015 143,966 0.34 107,015 143,966 0.34 United States 5 Wells Fargo & Company 7.500% 31/Dec/2049 6,400 6,530 0.02 6,400 6,530 0.02 Bonds convertibles Total 113,415 150,496 0.36 Equities Ireland 75 Allergan plc 1/Mar/2018 61,052 65,152 0.16 61,052 65,152 0.16 197 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States 3,125 Dominion Resources Inc. 15/Aug/2019 156,250 157,719 0.38 7,925 Hartford Financial Services Group Inc. 214,896 243,615 0.58 15/Apr/2042 1,901 Kinder Morgan Inc. 26/Oct/2018 93,193 83,321 0.20 310 M&T Bank Corp. 320,204 325,519 0.78 3,755 Nextera Energy Inc. 1/Sep/2018 215,929 239,042 0.57 3,850 Nextera Energy Inc. 1/Sep/2019 188,169 206,553 0.49 5,135 Regions Financial Corp. 126,079 131,524 0.31 225 Stanley Black Conv Prefered 15/May/2020 22,500 24,260 0.06 6,090 Synovus Financial Corp. 164,067 167,231 0.40 3,425 Tyson Foods Inc. 15/Jul/2017 172,297 230,331 0.55 150 US Bancorp 122,893 134,175 0.32 4,405 US Bancorp 131,610 130,124 0.31 5,170 Wells Fargo & Company 128,677 142,744 0.34 6,711 Wells Fargo & Company Preferred 180,204 201,531 0.48 4,175 Zions Bancorporation 15/Sep/2028 104,375 125,876 0.30 2,341,343 2,543,565 6.07 Equities Total 2,402,395 2,608,717 6.23 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 29,089,597 28,544,466 68.19 Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities Supranationals, Governments and Local Public Authorities, Debt Instruments Australia 140,000 Western Australian Treasury Corporation 103,213 104,552 0.25 2.500% 23/Jul/2024 103,213 104,552 0.25 Canada 245,000 Canada (Govt of) 1.250% 1/Mar/2018 223,662 189,435 0.45 230,000 Export Developement Canada 4.875% 182,476 174,683 0.42 24/Jan/2019 447,000 Ontario Canada (Province of) 1.900% 356,166 345,501 0.82 8/Sep/2017 762,304 709,619 1.69 Philippines 1,450,000 Philippine (Govt of) 3.500% 20/Mar/2021 28,162 28,195 0.07 5,160,000 Philippine (Govt of) 3.500% 21/Apr/2023 101,474 97,934 0.23 382,000 Philippine (Govt of) 4.625% 9/Sep/2040 7,663 7,074 0.02 5,186,416 Philippine (Govt of) 5.875% 16/Dec/2020 114,455 108,825 0.26 100,000 Philippine (Govt of) 6.500% 28/Apr/2021 2,462 2,151 0.01 450,000 Philippine (Govt of) 8.000% 19/Jul/2031 13,247 11,814 0.03 267,463 255,993 0.62 MANULIFE GLOBAL FUND 198

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Supranational 215,000 Asian Development Bank 3.250% 20/Jul/2017 148,744 157,585 0.38 145,000 International Finance Corp. 2.800% 15/Aug/2022 110,361 112,243 0.27 245,000 International Finance Corp. 3.625% 20/May/2020 169,269 183,599 0.44 428,374 453,427 1.09 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 1,561,354 1,523,591 3.65 Mortgage and Asset Backed Securities United States 125,000 American Express Credit Account Master 124,977 124,772 0.30 Trust 1.164% 15/Nov/2022 36,703 Bear Stearns Alt-A Trust FRN 25/Aug/2035 32,850 35,646 0.09 57,063 Bear Stearns Alt-A Trust FRN 25/Sep/2034 54,148 55,419 0.13 15,228 Bear Stearns Alt-A Trust FRN 25/Sep/2034 14,963 15,098 0.04 19,986 Bear Stearns Alt-A Trust FRN 25/Jan/2035 17,924 19,652 0.05 90,643 CAS FRN 25/Apr/2029 90,643 91,707 0.22 215,000 Chase Issuance Trust 1.370% 15/Jun/2021 212,917 213,849 0.51 210,000 Citibank Credit Card Issuance Trust 1.920% 209,940 210,382 0.50 7/Apr/2022 43,980 Connecticut Avenue Securities FRN 44,029 44,174 0.11 25/May/2024 83,904 Connecticut Avenue Securities FRN 83,904 84,921 0.20 25/Jan/2029 16,511 Connecticut Avenue Securities FRN 16,511 16,625 0.04 25/Apr/2028 11,230 Connecticut Avenue Securities FRN 11,230 11,310 0.03 25/Apr/2028 60,000 Dcent 1.390% 15/Mar/2022 59,266 59,585 0.14 125,000 Dcent 1.670% 18/Jan/2022 124,503 125,005 0.30 75,475 EMLT FRN 25/Apr/2035 73,872 75,064 0.18 65,199 Fannie Mae 4.500% 25/Nov/2039 129,220 10,781 0.03 51,219 Fannie Mae Interest Strip 4.000% 84,703 9,469 0.02 25/Oct/2039 33,106 Fannie Mae Interest Strip 4.000% 48,232 6,762 0.02 25/Nov/2039 78,649 Fannie Mae Interest Strip 4.000% 107,608 15,407 0.04 25/Jan/2041 119,160 Fannie Mae Interest Strip 4.500% 151,920 22,342 0.05 25/Mar/2041 58,926 Fannie Mae Interest Strip 5.000% 48,391 10,729 0.03 25/Mar/2041 92,703 Fannie Mae Interest Strip 5.000% 87,223 18,779 0.04 25/Mar/2041 907,002 Fannie Mae Remics 3.500% 25/May/2043 224,707 131,370 0.31 52,310 Freddie Mac Structured Agency Credit Risk 52,310 52,537 0.13 Debt Notes FRN 25/Oct/2028 166,306 Gsaa FRN 25/Oct/2035 158,860 163,470 0.39 63,210 GSR Mortgage Loan Trust FRN 25/May/2034 61,837 64,112 0.15 100,000 Home Mortgage Alliance Corporation FRN 100,313 99,815 0.23 25/Jan/2035 4,999 JPMorgan Chase Commercial Mortgage Securities Corp. FRN 15/Apr/2045 4,603 5,005 0.01 199 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 46,470 MLCC Mortgage Investors FRN 25/Oct/2035 44,959 45,626 0.11 42,366 Opteum Mortgage Acceptance Corp. FRN 38,606 41,638 0.10 25/Nov/2035 250,000 Stacr FRN 25/Oct/2027 250,000 256,122 0.60 178,712 Washington Mutual FRN 25/Apr/2045 166,686 171,686 0.40 87,663 Washington Mutual FRN 25/Oct/2033 89,033 90,218 0.22 3,020,888 2,399,077 5.72 Mortgage and Asset Backed Securities Total 3,020,888 2,399,077 5.72 Bonds United States 105,000 Activision Blizzard 2.300% 15/Sep/2021 104,872 104,281 0.25 285,000 Aecom 5.125% 15/Mar/2027 286,424 287,137 0.69 105,000 Apple Inc. FRN 9/Feb/2022 105,000 106,090 0.25 94,000 Autodesk Inc. 3.500% 15/Jun/2027 93,410 92,594 0.22 145,000 CCO Holdings LCC 5.125% 1/May/2027 148,107 148,731 0.36 105,000 Cintas Corp. 3.700% 1/Apr/2027 104,597 108,952 0.26 116,000 Emera USA Finance LP 3.550% 15/Jun/2026 116,741 116,702 0.28 125,000 Expedia Inc. 5.000% 15/Feb/2026 131,931 137,521 0.33 340,000 Fifth Third Bancorp FRN 31/Dec/2049 339,999 347,709 0.83 110,000 Fortis Inc. 3.055% 4/Oct/2026 110,000 106,021 0.25 155,000 Lamar Media Corp. 5.000% 1/May/2023 158,220 161,325 0.39 140,000 Lin Television 5.875% 15/Nov/2022 141,104 147,081 0.35 55,000 Lowe s Companys Inc. FRN 14/Sep/2018 55,532 55,348 0.13 105,000 Merrill Lynch & Company FRN 1/Dec/2026 80,850 95,583 0.23 230,000 QVC Inc. 4.450% 15/Feb/2025 229,898 228,466 0.55 85,000 QVC Inc. 5.950% 15/Mar/2043 86,869 81,611 0.19 65,000 Sirius XM Radio Inc. P.P. 144A 5.250% 65,695 67,072 0.16 15/Aug/2022 380,000 Zebra Technologies Company 7.250% 380,000 404,890 0.97 15/Oct/2022 190,000 Zions Bancorporation FRN 29/Dec/2049 190,000 190,713 0.46 2,929,249 2,987,827 7.15 Bonds Total 2,929,249 2,987,827 7.15 Bonds convertibles United States 90,000 Anthem Inc. 2.750% 15/Oct/2042 128,530 230,944 0.55 128,530 230,944 0.55 Bonds convertibles Total 128,530 230,944 0.55 MANULIFE GLOBAL FUND 200

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Equities United States 1,260 AMG Capital Trust II 15/Oct/2037 71,379 75,537 0.18 71,379 75,537 0.18 Equities Total 71,379 75,537 0.18 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities 7,711,400 7,216,976 17.25 Other transferable securities and money market instruments (2) Mortgage and Asset Backed Securities United States 42,551 Adjustable Rate Mortgage Trust FRN 39,029 42,747 0.10 25/Apr/2034 115,000 Americold LLC Trust FRN 14/Jan/2029 131,172 129,422 0.31 55,000 AOA FRN 13/Dec/2029 54,733 55,212 0.13 185,000 Applebees Funding LLC 4.277% 5/Sep/2044 186,105 182,598 0.44 65,975 Bear Stearns Adjustable Rate Mortgage Trust 66,305 65,802 0.16 FRN 25/Aug/2035 40,000 Bway FRN 10/Mar/2033 36,603 39,134 0.09 101,000 BXP 3.379% 13/Jun/2039 104,022 103,319 0.25 20,145 Chase FRN 25/Feb/2037 20,133 20,369 0.05 55,000 CLNS Trust FRN 11/Jun/2032 55,000 55,187 0.13 75,000 Cold FRN 15/Apr/2024 75,000 75,234 0.18 85,250 Commercial Mortgage Trust FRN 10/Jul/2038 85,755 85,942 0.21 150,000 Gahr Commercial Mortgage Trust 3.495% 146,260 152,380 0.36 15/Dec/2034 54,474 GSR Mortgage Loan Trust FRN 25/Sep/2035 55,223 55,714 0.13 952,885 Harborview Mortgage Loan Trust FRN 144,773 50,265 0.12 19/May/2035 64,328 Harborview Mortgage Loan Trust FRN 60,003 63,087 0.15 20/Jun/2035 42,627 Harborview Mortgage Loan Trust FRN 39,350 41,964 0.10 20/Jun/2035 51,319 Harborview Mortgage Loan Trust FRN 45,866 51,361 0.12 19/Jun/2034 68,702 Harborview Mortgage Loan Trust FRN 67,864 70,242 0.17 19/Nov/2034 319,200 Hardees Funding LLC Carls Jr Funding LLC 319,200 319,086 0.76 4.474% 20/Mar/2020 35,984 Home Equity Asset Trust 2.716% 25/ 33,825 35,915 0.09 Jun/2033 832,669 Indymac Index Mortgage Loan Trust FRN 45,993 31,329 0.07 25/Oct/2036 803,419 Indymac Index Mortgage Loan Trust FRN 48,606 52,604 0.13 25/Oct/2036 125,000 JPMorgan Chase Commercial Mortgage Securities Corp. FRN 15/Jul/2036 124,688 126,134 0.30 201 MANULIFE GLOBAL FUND

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 45,460 Merrill Lynch Mortgage Investors Inc. FRN 45,835 46,414 0.11 25/Feb/2035 27,071 MLCC Mortgage Investors FRN 25/Dec/2034 26,681 27,252 0.07 34,808 MLCC Mortgage Investors FRN 25/Oct/2036 33,285 34,304 0.08 115,000 Morgan Stanley Capital Barclays Bank Trust 115,000 114,196 0.27 FRN 13/Sep/2031 24,800 Morgan Stanley Mortgage Loan Trust FRN 23,932 25,084 0.06 25/Oct/2034 64,621 Sonic Capital LLC 4.472% 20/May/2046 64,621 64,447 0.15 45,214 Structured Asset Securities Corp. FRN 44,342 44,629 0.11 25/Dec/2033 100,000 Verizon Owner Trust 1.420% 20/Jan/2021 100,096 99,646 0.24 2,439,300 2,361,019 5.64 Mortgage and Asset Backed Securities Total 2,439,300 2,361,019 5.64 Bonds Canada 44,000 Burger King 6.000% 1/Apr/2022 45,568 45,733 0.11 45,568 45,733 0.11 Singapore 250,000 Hongkong Land Treasury Services Singapore 181,326 183,930 0.44 Pte Limited 3.860% 29/Dec/2017 181,326 183,930 0.44 United States 105,000 Activision Blizzard Inc. P.P. 144A 6.125% 114,844 113,338 0.27 15/Sep/2023 120,000 Aramark Services Inc. 5.000% 1/Apr/2025 122,550 126,838 0.30 129,000 Bae Systems Holdings Inc. 3.850% 135,591 134,290 0.32 15/Dec/2025 125,000 CIT Group Inc. 5.500% 15/Feb/2019 131,929 131,370 0.31 140,000 First Data Corp. P.P. 144A 5.375% 145,950 146,231 0.35 15/Aug/2023 215,000 Forest Laboratories Inc. P.P. 144A 5.000% 216,045 235,339 0.57 15/Dec/2021 95,000 Gartner Inc. 5.125% 1/Apr/2025 95,980 100,225 0.24 155,000 Post Holdings Inc. 5.500% 1/Mar/2025 155,763 160,173 0.38 170,000 Sealed Air Corp. P.P. 144A 4.875% 170,485 181,688 0.43 1/Dec/2022 140,000 Sealed Air Corp. P.P. 144A 6.500% 157,470 156,975 0.38 1/Dec/2020 20,000 Stone + Webster 0.000% 1/Jul/2017 a 0 10 0.00 125,000 Stone Company 0.000% 31/Dec/2049 a 0 78 0.00 10,000 Time Inc. 5.750% 15/Apr/2022 10,025 10,325 0.02 1,456,632 1,496,880 3.57 Bonds Total 1,683,526 1,726,543 4.12 MANULIFE GLOBAL FUND 202

STRATEGIC INCOME FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Bonds convertibles United States 40,000 Liberty Expedia 5.157% 30/Jun/2047 40,138 42,507 0.10 40,138 42,507 0.10 Bonds convertibles Total 40,138 42,507 0.10 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) 4,222,882 4,130,069 9.86 Portfolio of Investments 41,023,879 39,891,511 95.30 Other Net Assets 1,965,321 4.70 Net Assets 41,856,832 100.00 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. 203 MANULIFE GLOBAL FUND

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 2016 TO 30 JUNE 2017* Strategic Income Fund Class AA +1.81% Strategic Income Fund Class I2 +2.46% Strategic Income Fund Class S Hedged -1.53% Barclays Capital U.S. Aggregate Bond Index -0.31% PORTFOLIO REVIEW The sub-fund s sector allocation was the largest contributor to its performance during the period, primarily due to an overweight exposure to investment-grade and high-yield corporate bonds and convertible bonds, and an underweight exposure to US Treasury bills. Currency management also contributed to performance, primarily owing to an overweight exposure to the Mexican peso. Duration management was relatively neutral. The sub-fund s security selection within the corporate sector detracted from its performance. MARKET REVIEW There was no shortage of central bank, economic, political and industry-specific news over the past year, which kept markets on edge. The general dovish tone from most developed central banks helped risk assets outperform. In November, after an upset victory by Donald Trump in the US presidential election, the market reaction felt very similar to the reaction after Brexit, with expectations for elevated short-term volatility and uncertainty as it relates to longer-term market implications. Risk assets gained, however, due to potential pro-growth policies from the new administration. Eurozone politics and European Central Bank (ECB) policy change were at the forefront as well. With growth continuing to improve, on 14 December, the Fed increased the federal funds rate (as widely anticipated) by 0.25%. However, comments from Chair Janet Yellen and an upward revision in the forward rate projections to three expected increases in 2017 (from two previously), fuelled a market perception that the Fed was more hawkish than expected. Later in the period, House Republicans could not round up enough votes to repeal and replace the Affordable Care Act, raising questions about their ability to tackle other tough issues, such as tax reform, and the market took a breather as a result. Further clouding the economic environment was the UK hitting its target of triggering Article 50 by the end of March. Late in the period, several central bankers comments during the month suggested a shift to a more hawkish sentiment on a global basis. Despite this backdrop, risk-based assets performed well during the period and global interest rates generally moved higher. * 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 204

STRATEGIC INCOME FUND OUTLOOK The sub-fund s portfolio manager s (PM) view is that volatility will continue in 2017 across all asset classes (fixed income, equities, commodities, and foreign exchange) driven by changing central bank policies, country-specific events (like Brexit negotiations and elections in Europe), as well as the Trump administration s ability to implement its proposed policies. As a result, the PM continues to maintain a relatively defensive posture in the portfolio from a credit and quality perspective, while also focusing on managing portfolio liquidity to minimise the impact of volatility in the short term. The PM continues to pay special attention to global economic data releases and the subsequent policy response from central banks worldwide. The PM has become more constructive on several global macroeconomic factors, and believe there is more upside surprise risk to the global economy than downside. The PM believes this environment is positive for global fixed-income markets. However, given that valuations are at fair value in most fixed-income sectors, the PM will look to increase risk within the portfolio on a selective basis. The PM anticipates that the US economy will continue to grow at a moderate pace in the year ahead, outperforming most of its developed-market peers. While relative yield levels across developed markets may keep a ceiling on long-term US rates in the near term, the PM believes the Trump administration s policies could potentially extend the economic cycle and lead to higher rates over the long term. The PM believes the risk of a higher global interest rate environment has increased, and, as a result, sub-fund is maintaining a bias to shorten duration and will tactically adjust interest rate exposures around specific economic data and central bank comments and policies. The PM continues to embrace and add to credit risk in the portfolio selectively, recognising that sector, quality, and issuer selection are more important factors today than they were earlier in the credit cycle. The PM also holds core positions in global governments, and commercial mortgage-backed and assetbacked securities, which provide diversification away from pure corporate risk. The PM is targeting specific countries for adding to the sub-fund s emerging markets position, with a view that there will likely be wider performance deviations across countries, qualities, and currencies moving forward. With respect to currencies, as global central bank policies potentially become more in sync, the PM believes the stronger US dollar trend may peak. As a result, the PM will look for opportunities to strategically un-hedge some of the sub-fund s foreign bonds. The PM will continue to add risk in both fixed-income and currency markets, albeit on the margin, in the coming weeks and months, but will be selective and patient in doing so. 205 MANULIFE GLOBAL FUND

TAIWAN EQUITY FUND Portfolio of Investments as at 30 June 2017 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 98,000 Airtac International Group 746,125 1,158,149 3.80 107,000 Bizlink Holding Inc. 714,100 756,243 2.48 134,000 Chailease Holding Company Limited 306,386 373,542 1.23 50,600 Gourmet Master Company Limited 442,355 545,587 1.79 423,000 Grand Ocean Retail Group Limited 339,602 367,099 1.21 23,000 Parade Technologies Limited 308,363 282,774 0.93 2,856,931 3,483,394 11.44 Taiwan 248,000 Accton Technology Corp. 530,982 632,634 2.08 79,197 Advantech Company Limited 589,594 561,042 1.84 34,000 Asmedia Technology Inc. 381,699 352,629 1.16 944,000 Cathay Financial Holding Company Limited 1,155,966 1,554,709 5.10 245,000 Chilisin Electronics Corp. 342,379 660,419 2.17 932,240 China Life Insurance Company Limited 696,988 928,559 3.05 337,000 Compeq Manufacturing Company 253,325 274,739 0.90 897,062 CTBC Financial Holding Company Limited 459,357 588,308 1.93 244,000 Ctci Corp. 349,337 415,488 1.36 167,000 Delta Electronics Inc. 935,806 914,050 3.00 43,000 Dr Wu Skincare Company Limited 302,391 257,971 0.85 28,000 Eclat Textile Company Limited 288,025 341,485 1.12 52,898 Ennoconn Corp. 398,311 670,352 2.20 278,000 Formosa Chemicals & Fibre Corp. 637,676 872,745 2.87 326,348 Formosa Plastics Corp. 799,224 994,489 3.26 117,000 Foxsemicon Integrated Technology Inc. 432,828 603,844 1.98 57,000 Hiwin Technologies Corp. 290,806 385,058 1.26 493,000 Hon Hai Precision Industry Company Limited 1,392,906 1,896,148 6.24 139,511 Hota Industrial Manufacturing 615,805 687,922 2.26 Company Limited 81,000 Kinik Company 209,238 204,496 0.67 27,000 LandMark Optoelectronics Corp 310,396 308,875 1.01 11,000 Largan Precision Company Limited 895,772 1,753,774 5.77 904,000 Mega Financial Holding Company Limited 697,008 751,845 2.47 217,000 Powertech Technology Inc. 393,248 669,830 2.20 52,610 Poya Company Limited 530,411 667,567 2.19 MANULIFE GLOBAL FUND 206

TAIWAN EQUITY FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Taiwan (continued) 41,000 Quang Viet Enterprise Company Limited 212,801 237,885 0.78 35,000 Rafael Microelectronics Inc. 208,702 202,498 0.66 46,919 Sporton International Inc. 274,431 237,525 0.78 14,000 St Shine Optical Company Limited 289,318 292,701 0.96 414,334 Taiwan Semiconductor Manufacturing 1,206,850 2,839,855 9.33 Company Limited 184,340 Tci Company Limited 662,021 1,172,573 3.85 120,000 Tong Hsing Electronic Industries Limited 460,054 499,012 1.64 288,000 TTY Biopharm Company Limited 868,876 956,210 3.14 559,075 Walsin Technology Corp. 346,653 1,003,465 3.30 687,000 Winbond Electronics Corp. 368,058 412,153 1.35 61,000 Wowprime Corp. 388,160 369,969 1.21 218,000 Yageo Corp. 551,440 759,629 2.49 19,726,842 26,932,453 88.43 Equities Total 22,583,773 30,415,847 99.87 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 22,583,773 30,415,847 99.87 Portfolio of Investments 22,583,773 30,415,847 99.87 Other Net Assets 40,354 0.13 Net Assets 30,456,201 100.00 (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. 207 MANULIFE GLOBAL FUND

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 2016 TO 30 JUNE 2017* Taiwan Equity Fund Class AA +22.13% Taiwan TAIEX Index +27.20% PORTFOLIO REVIEW Stock selection in consumer discretionary and information technology, and the overweight in healthcare negatively impacted performance. On the other hand, stock selection in financials and consumer staples, and the underweight in telecommunications services positively impacted performance. Some of the sub-fund s holdings in the information technology sector were among the largest contributors to performance. The top contributor was a Taiwanese passive component manufacturer as pricing continues to improve for one of its key products, multilayer ceramic capacitors (MLCC), given a supply shortage. A camera lens maker contributed positively to performance due to better-than-expected penetration and sales of its dual-lens camera. The main detractor was an automotive components manufacturer holding that specialises in sensors and electronic car parts after it reported weak October sales. The sub-fund no longer owns this company. Another detractor was one of the largest biotechnology conglomerates in the country that specialises in oncology drugs its September sales were affected by a drop in shipments to some clients in the US and Europe. Its first quarter earnings were also weighed down by higher research and development expenses and foreign exchange loss. However, the strong fundamentals of the company remain unchanged due to stable cash flows, large export potential, and high barriers to entry of its liposome products. MARKET REVIEW The Taiwan equity market performed strongly over the period despite the sell-down post the US elections due to the strong performance of the technology sector and robust foreign inflows. First quarter GDP growth registered at 2.6% year-on-year due to resilient domestic consumption and robust exports. Exports in May posted its eighth consecutive month of growth on the back of solid demand for machinery, integrated circuits, and base metals. The central bank kept its policy rates unchanged for four consecutive quarterly meetings as the domestic economy steadily gains momentum and inflation remains subdued. The government is considering a tax reform that may increase corporate tax and reduce personal income tax. * 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 208

TAIWAN EQUITY FUND OUTLOOK The government revised up 2017 GDP growth by 5 basis points (bps) to 1.92% year-on-year due to better-than-expected export orders driven by the technology and automation segments. Exports for the first five months of the year were up 12.5% year-on-year, and grew for eight consecutive months in May. With Taiwan being an export-oriented and tech-heavy economy, the recent reversal of the local currency s strength against the US dollar will benefit corporate earnings. The sub-fund s portfolio manager (PM) expects the US dollar to strengthen in the following quarters, and the upcoming iphone 8 products to support good export numbers ahead and GDP growth. That said, the technology industry, especially parts of it linked to the iphone 8 supply chain, will be the key driver of exports and the economy by the latter half of the year. For 2017, as the global economy sees a slight recovery, the PM expects export-oriented countries such as Taiwan to benefit. The PM believes the second half of the year will be better due to several catalysts. First, a super product cycle should stem from the production of the Organic Light-Emitting Diode (OLED)-based iphone 8, with the launch date in September. Second, the excess supply issue in China s smartphone market should abate by July. Third, the demand for automation remains strong. Lastly, Tesla s Model 3 will be in maximum production by the third quarter. The PM started to add more weighting on non-tech sectors that are exposed to China and Tesla consumption. The PM also added some positions in a coffee chain store, industrial computer servers, and optical fibre as these look likely to have more upside for the rest of the year. The PM believes that market risk is rising gradually, but remains manageable. 209 MANULIFE GLOBAL FUND

TURKEY EQUITY FUND Portfolio of Investments as at 30 June 2017 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 Turkey 952,669 Akbank TAS 2,777,690 2,664,685 7.47 47,899 Alkim Alkali Kimya AS 321,678 351,919 0.99 188,190 Arcelik AS 1,086,206 1,382,118 3.87 90,044 Aselsan Elektronik Sanayi Ve Ticaret AS 200,710 560,512 1.57 58,521 Bim Birlesik Magazalar AS 953,272 1,084,461 3.04 65,332 Coca-Cola Icecek AS 1,138,850 756,754 2.12 835,676 Emlak Konut Gayrimenkul Yatirim Ortakligi AS 954,546 699,215 1.96 895,343 Eregli Demir Ve Celik Fabrikalari Tas 1,357,558 1,779,366 4.99 578,827 Global Yatirim Holding AS 521,787 471,152 1.32 378,896 Haci Omer Sabanci Holding AS 1,541,385 1,179,290 3.30 1,640,527 Is Gayrimenkul Yatirim Ortakligi AS 769,735 678,164 1.90 331,554 Koc Holding AS 1,416,782 1,532,134 4.29 87,724 Mavi Jeans B 1,085,885 1,067,716 2.99 169,946 Migros Ticaret AS 957,451 1,312,829 3.68 1,434,514 Petkim Petrokimya Holding 2,008,519 2,467,783 6.91 274,413 Tav Havalimanlari Holding AS 1,479,136 1,464,549 4.10 188,108 Tofas Turk Otomobil Fabrik 1,175,407 1,545,053 4.33 83,758 Tupras-Turkiye Petrol Rafinerileri 2,002,091 2,397,504 6.72 40,939 Turk Traktor ve Ziraat Makineleri AS 1,042,070 913,342 2.56 1,204,927 Turkiye Garanti Bankasi AS 4,032,462 3,363,422 9.42 1,332,391 Turkiye Is Bankasi 2,584,723 2,806,926 7.86 3,013,891 Turkiye Sinai Kalkinma Bankasi AS 1,364,526 1,211,636 3.39 862,330 Turkiye Vakiflar Bankasi Tao 1,522,148 1,593,708 4.47 995,440 Yapi ve Kredi Bankasi AS 1,829,375 1,274,084 3.57 234,292 Yatas Yatak ve Yorgan Sanayi Ve Ticaret AS 267,968 787,796 2.21 54,887 Yazicilar Holding AS 260,121 344,939 0.97 34,652,081 35,691,057 100.00 Equities Total 34,652,081 35,691,057 100.00 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 34,652,081 35,691,057 100.00 Portfolio of Investments 34,652,081 35,691,057 100.00 Other Net Liabilities (1,135) 0.00 Net Assets 35,689,922 100.00 (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 210

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 2016 TO 30 JUNE 2017* Turkey Equity Fund Class AA +9.86% MSCI Turkey 10/40 Index +8.44% PORTFOLIO REVIEW The sub-fund generated a positive return over the 12-month period ending 30 June 2017, slightly ahead of the underlying market. This outperformance was entirely due to its stock selection. Over the period under review, the sub fund s exposure to the financials and telecommunication services sectors was reduced in favour of a significantly higher exposure to materials. Currently, the sub-fund s largest overweight exposure is in the financials and consumer discretionary sectors, reflecting the opportunities available to companies operating in the domestic economy as activity here continues to improve as the tumultuous events of the last 12 months fade into memory. The sub-fund now has no exposure to the telecommunication services sector. MARKET REVIEW Share prices on the Borsa Istanbul finished the 12-month period ending 30 June 2017 with a net gain of around 8% in US dollar terms. However, this relatively subdued number masks a substantial early fall, which saw share prices down around 25% by the end of the year, followed by an even more marked rise of close to 50% over the remainder of the period. Two significant events were responsible for this volatility: first, an attempted coup by a section of the military that initially only narrowly failed to overthrow President Erdogan but which was then brutally crushed and followed by a prolonged purge of those thought by the government to be in sympathy with the insurgents; and second, a constitutional referendum that saw the country voting to make the office of president an executive, rather than a largely ceremonial, one. Both developments however served to underline the extent to which Recep Tayyip Erdogan, the president of Turkey, has centralised power around himself in an increasingly autocratic fashion. Indeed, Turkey has been under a, repeatedly renewed, state of emergency ever since the coup and this placed ultimate power in Erdogan s hands even before the constitutional referendum was held. * 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. 211 MANULIFE GLOBAL FUND

TURKEY EQUITY FUND July s coup came as something of a shock and financial markets reacted negatively to both the coup itself and the subsequent crackdown; although by no means unusual in an historical context, markets had supposed that Turkey had outgrown its past and could now be considered alongside more normal western democracies. This view was however superseded by the realization that with President Erdogan now in firm control, and with no elections on the horizon, political uncertainty had all but disappeared and that the government could now get on with the job of running the country and promoting economic growth. The economy itself suffered in the immediate aftermath of the coup but has since recovered, with GDP growing by 1.4% over the first quarter of 2017 to stand 4.7% higher than a year earlier. In part this reflected a near 20% fall in the value of the Turkish lira, which served to boost exports. It also reflected a continuing rapprochement with Russia, which lifted its ban on travel to Turkey during the period under review. Inflation rose to around 12% in the wake of the lira s fall but has since fallen back a little with the central bank, whose independence continues to be the subject of some speculation, tightening monetary policy somewhat with the most recent rate hike occurring in April. OUTLOOK Looking forward, as political newsflow diminishes in importance and as evidence of improving economic growth becomes ever more evident, the market can be expected to keep its focus on fundamentals. Fiscal measures taken earlier in the year look like they are paying dividends and should continue to support the outlook. With tight monetary policy in place supporting the currency, the global rate outlook supportive of emerging market assets, increasing consumer and business confidence post the election cycle, Turkish assets should continue to perform well. We expect such tailwinds to continue to support the Turkish market for the time being. As ever, the sub-fund s managers will be sticking to their bottomup approach and continuing to looking for the best opportunities across the entire market. MANULIFE GLOBAL FUND 212

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 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 Argentina 85,000 Argentina (Govt of) 6.875% 26/Jan/2027 84,245 88,216 0.06 245,000 Argentina (Govt of) 7.500% 22/Apr/2026 245,000 264,159 0.18 140,204 Argentina (Govt of) 8.280% 31/Dec/2033 114,441 155,325 0.11 125,000 Buenos Aires (Provincia de) 7.875% 125,000 130,300 0.09 15/Jun/2027 568,686 638,000 0.44 United States 3,720,000 United States Treasury N/B 2.750% 3,525,231 3,681,928 2.55 15/Nov/2042 5,792,000 United States Treasury N/B 3.000% 5,805,710 5,985,670 4.13 15/Feb/2047 9,330,941 9,667,598 6.68 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 9,899,627 10,305,598 7.12 Bonds Argentina 205,000 Ypf SA 8.500% 28/Jul/2025 220,888 231,832 0.16 220,888 231,832 0.16 Australia 255,000 Australia & New Zealand Banking Group 254,232 254,677 0.18 Limited 2.125% 19/Aug/2020 254,232 254,677 0.18 Bermuda 135,000 Aircastle Limited 5.500% 15/Feb/2022 136,725 147,284 0.10 130,000 Aircastle Limited 6.250% 1/Dec/2019 142,550 141,680 0.10 75,000 Aircastle Limited 7.625% 15/Apr/2020 75,000 84,991 0.06 354,275 373,955 0.26 Canada 260,000 Cenovus Energy Inc. 4.450% 15/Sep/2042 201,596 216,793 0.15 170,000 Enbridge Inc. 4.250% 1/Dec/2026 168,905 178,015 0.12 75,000 Open Text Corp. 5.875% 1/Jun/2026 75,000 80,813 0.06 445,501 475,621 0.33 Cayman Islands 55,000 Park Aerospace Holdings Limited 5.500% 55,000 57,732 0.04 15/Feb/2024 134,000 Vale Overseas 6.250% 10/Aug/2026 135,187 145,202 0.10 190,187 202,934 0.14 213 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Finland 80,000 Nokia Oyj 4.375% 12/Jun/2027 79,673 81,436 0.06 79,673 81,436 0.06 France 150,000 AXA SA 8.600% 15/Dec/2030 173,725 213,083 0.15 200,000 Credit Agricole FRN 23/Mar/2066 205,750 220,269 0.15 115,000 Electricite de France FRN 29/Dec/2049 113,899 118,099 0.08 255,000 Societe Generale SA FRN 29/Sep/2025 255,000 289,694 0.20 200,000 Societe Generale SA FRN 29/Nov/2049 207,000 212,641 0.15 955,374 1,053,786 0.73 Ireland 230,000 Aercap Ireland Capital Limited 4.625% 244,189 245,007 0.17 30/Oct/2020 201,000 Aercap Ireland Capital Limited 5.000% 218,105 217,900 0.15 1/Oct/2021 280,000 Shire Acquisitions Investments Ireland 279,774 278,683 0.18 Limited 1.900% 23/Sep/2019 280,000 Shire Acquisitions Investments Ireland 279,667 274,383 0.19 Limited 3.200% 23/Sep/2026 1,021,735 1,015,973 0.69 Luxembourg 50,000 Actavis Funding SCS 3.800% 15/Mar/2025 48,572 51,786 0.04 165,000 Actavis Funding SCS 3.800% 15/Mar/2025 164,414 170,893 0.12 200,000 Millicom International Cellular SA 6.625% 219,000 208,185 0.14 15/Oct/2021 40,000 Telecom Italia Capital SA 7.200% 18/Jul/2036 42,800 46,478 0.03 155,000 Telecom Italia Capital SA 7.200% 18/Jul/2036 158,681 180,104 0.12 633,467 657,446 0.45 Marshall Islands 270,000 Teekay Offshore Partners LP 6.000% 198,459 215,663 0.15 30/Jul/2019 198,459 215,663 0.15 Mexico 200,000 Nemak SAB de CV 5.500% 28/Feb/2023 209,499 207,348 0.14 185,000 Petroleos Mexicanos 4.875% 24/Jan/2022 184,599 191,038 0.13 45,000 Petroleos Mexicanos 5.375% 13/Mar/2022 44,751 47,448 0.03 438,849 445,834 0.30 Netherlands 250,000 Lukoil International Finance BV 3.416% 250,000 251,981 0.17 24/Apr/2018 230,000 Myriad International Holdings 5.500% 244,851 245,828 0.17 21/Jul/2025 258,000 Petrobras Global Finance BV 5.625% 189,671 215,226 0.15 20/May/2043 140,000 Petrobras Global Finance BV 7.375% 140,000 148,588 0.10 17/Jan/2027 150,000 Petrobras Global Finance BV 7.375% 164,931 159,202 0.11 17/Jan/2027 152,000 Rabobank P.P. 144A FRN 30/Jun/2019 184,525 177,050 0.12 330,000 Shell International Finance BV 4.375% 328,311 346,150 0.25 11/May/2045 1,502,289 1,544,025 1.07 MANULIFE GLOBAL FUND 214

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Peru 129,506 Abengoa Transmision sur SA 6.875% 133,067 141,809 0.10 30/Apr/2043 133,067 141,809 0.10 Puerto Rico 150,000 Popular Inc. 7.000% 1/Jul/2019 144,458 157,566 0.11 144,458 157,566 0.11 Sweden 290,000 Ericsson LM 4.125% 15/May/2022 297,120 295,950 0.21 297,120 295,950 0.21 United Kingdom 230,000 Barclays plc 4.375% 12/Jan/2026 228,878 239,110 0.17 298,088 British Airways 4.625% 20/Jun/2024 298,087 318,037 0.23 100,000 HBOS plc 6.750% 21/May/2018 114,203 103,934 0.07 140,000 HSBC Holdings plc FRN 29/Dec/2049 140,000 151,782 0.10 440,000 Lloyds Banking Group plc 4.650% 438,177 459,753 0.31 24/Mar/2026 195,000 Lloyds Banking Group plc FRN 30/Apr/2049 206,944 214,730 0.15 210,000 Royal Bank of Scotland Group plc 3.875% 208,360 214,646 0.15 12/Sep/2023 225,000 Santander UK Group 4.750% 15/Sep/2025 224,379 233,395 0.16 225,000 Vedanta Resources plc 6.375% 30/Jul/2022 225,000 225,511 0.16 2,084,028 2,160,898 1.50 United States 240,000 AbbVie Inc. 3.600% 14/May/2025 238,919 246,019 0.17 190,000 Aercap Ireland Capital Limited FRN 193,800 203,300 0.14 15/Jun/2045 100,000 Air Lease Corp. 3.375% 15/Jan/2019 100,651 101,852 0.07 120,000 Air Lease Corp. 3.625% 1/Apr/2027 117,889 120,449 0.08 220,000 Alcoa Inc. 5.125% 1/Oct/2024 231,386 228,703 0.16 115,000 Ally Financial Inc. 3.250% 5/Nov/2018 114,806 116,494 0.08 295,000 Ally Financial Inc. 5.125% 30/Sep/2024 293,500 310,953 0.22 120,000 American Airlines 3.650% 15/Feb/2029 120,000 122,824 0.08 205,000 American Honda Finance 1.700% 204,959 204,986 0.14 22/Feb/2019 115,000 American Tower Corp. 3.400% 15/Feb/2019 116,708 117,456 0.08 305,000 American Tower Corp. 3.550% 15/Jul/2027 304,308 303,182 0.21 125,000 American Tower Corp. 4.700% 15/Mar/2022 124,906 135,547 0.09 102,000 AmeriGas Partners LP 5.500% 20/May/2025 102,010 103,384 0.07 111,000 Amgen Inc. 4.400% 1/May/2045 119,760 114,688 0.08 485,000 Anheuser-Busch InBev Finance Inc. 4.900% 492,566 548,683 0.38 1/Feb/2046 145,000 Arrow Electronics Inc. 3.875% 12/Jan/2028 144,535 144,870 0.10 185,000 AT&T Inc. 4.750% 15/May/2046 180,448 181,501 0.13 420,000 AT&T Inc. 5.450% 1/Mar/2047 417,644 451,395 0.31 161,000 Bac Capital Trust XIV FRN 29/Sep/2049 125,997 140,589 0.10 205,000 Bank of America Corp. 3.950% 21/Apr/2025 204,532 208,064 0.14 215 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 75,000 Bank of America Corp. 4.200% 26/Aug/2024 74,945 77,882 0.05 30,000 Bank of America Corp. 4.200% 26/Aug/2024 30,184 31,153 0.02 155,000 Bank of America Corp. 4.250% 22/Oct/2026 154,595 159,862 0.11 290,000 Bank of America Corp. 4.450% 3/Mar/2026 290,664 303,056 0.21 335,000 Bank of America Corp. FRN 29/Dec/2049 351,188 375,784 0.26 230,000 Bank of America Corp. 6.875% 25/Apr/2018 245,579 239,297 0.17 20,000 Bank of America Corp. 6.875% 25/Apr/2018 22,964 20,808 0.01 160,000 Bankunited Inc. 4.875% 17/Nov/2025 158,442 166,824 0.12 195,000 Bear Stearns Companies Inc. 7.250% 202,452 201,176 0.14 1/Feb/2018 225,000 Becton Dickinson & Company 2.133% 225,000 225,210 0.16 6/Jun/2019 75,000 Boardwalk Pipelines LP 4.450% 15/Jul/2027 74,744 76,868 0.05 115,000 Bunge Limited Finance Corp. 8.500% 132,118 128,615 0.09 15/Jun/2019 195,000 CA Inc. 3.600% 15/Aug/2022 194,825 198,290 0.14 151,000 CA Inc. 4.700% 15/Mar/2027 151,000 155,377 0.11 180,000 Capital One Financial 2.450% 24/Apr/2019 180,312 181,043 0.13 360,000 Capital One Financial 3.750% 28/Jul/2026 358,721 352,208 0.24 205,000 Capital One Financial 4.200% 29/Oct/2025 205,885 207,375 0.14 250,000 Capital One NA 2.350% 17/Aug/2018 251,180 251,124 0.17 190,000 Cardinal Health Inc. 1.948% 14/Jun/2019 190,000 190,153 0.13 225,000 CC Holdings GS V 3.849% 15/Apr/2023 222,092 237,227 0.16 36,000 Chemours Company 5.375% 15/May/2027 35,658 37,062 0.03 250,000 Chemours Company 6.625% 15/May/2023 207,276 264,808 0.18 165,000 Cimarex Energy Company 4.375% 1/Jun/2024 166,447 173,698 0.12 245,000 Citigroup Inc. 2.350% 2/Aug/2021 242,857 243,310 0.17 250,000 Citigroup Inc. 4.600% 9/Mar/2026 250,138 262,948 0.18 340,000 Citigroup Inc. FRN 29/Dec/2049 353,700 356,960 0.25 310,000 Citigroup Inc. FRN 29/Dec/2049 310,143 343,934 0.24 235,000 Cno Financial Group Inc. 5.250% 240,313 249,075 0.17 30/May/2025 265,000 Columbia Pipeline Group Inc. 4.500% 265,258 283,202 0.20 1/Jun/2025 120,000 Commercial Metals Company 7.350% 124,299 127,471 0.09 15/Aug/2018 160,000 Community Health Systems (CHS) 5.125% 147,800 162,457 0.11 1/Aug/2021 120,000 Community Health Systems Inc. 8.000% 117,616 121,022 0.08 15/Nov/2019 315,000 Continental Resources Inc. 5.000% 323,179 310,174 0.22 15/Sep/2022 135,000 Credit Acceptance Corp. 6.125% 15/Feb/2021 134,775 138,330 0.10 175,000 CVS Health Corp. 2.875% 1/Jun/2026 173,493 170,000 0.12 290,000 CVS Health Corp. 5.125% 20/Jul/2045 296,729 332,894 0.23 165,000 Davita Healthcare Partners Inc. 5.000% 1/May/2025 162,722 165,294 0.11 MANULIFE GLOBAL FUND 216

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 185,000 Dcp Midstream Operating LP 2.700% 173,900 183,790 0.13 1/Apr/2019 260,000 Delta Air Lines Inc. 3.625% 15/Mar/2022 259,964 267,557 0.19 375,000 Discover Financial Services 3.950% 382,797 382,576 0.25 6/Nov/2024 45,000 Discover Financial Services 5.200% 48,599 48,857 0.03 27/Apr/2022 128,000 Dominion Energy Step 2.579% 1/Jul/2020 128,132 128,730 0.09 130,000 Ebay Inc. 2.150% 5/Jun/2020 129,869 130,019 0.09 299,000 Electronic Arts Inc. 4.800% 1/Mar/2026 299,339 328,702 0.22 210,000 Enbridge Energy Partners 4.375% 213,605 221,653 0.15 15/Oct/2020 73,000 Energy Transfer Partners LP 4.200% 72,844 73,219 0.05 15/Apr/2027 220,000 Energy Transfer Partners LP 5.150% 214,714 214,933 0.15 15/Mar/2045 90,000 Energy Transfer Partners LP 9.700% 104,035 100,876 0.07 15/Mar/2019 41,000 Engilty Corp. 8.875% 1/Sep/2024 41,469 44,626 0.03 173,000 EnLink Midstream Partners LP 4.850% 177,469 179,904 0.12 15/Jul/2026 200,000 Enova International Inc. 9.750% 1/Jun/2021 191,376 208,250 0.14 110,000 Equinix Inc. 5.375% 15/May/2027 110,000 117,361 0.08 105,000 Firstenergy Corp. 4.850% 15/Jul/2047 104,337 106,177 0.07 180,000 Flagstar Bancorp Inc. 6.125% 15/Jul/2021 179,998 193,500 0.13 116,000 Ford Motor Company 4.750% 15/Jan/2043 118,888 111,849 0.08 383,000 Ford Motor Company 5.875% 2/Aug/2021 433,759 426,893 0.30 145,000 Ford Motor Credit Company 2.375% 145,479 145,606 0.10 12/Mar/2019 90,000 Ford Motor Credit Company 2.551% 90,000 90,563 0.06 5/Oct/2018 100,000 Fresenius US Finance P.P. 144A 4.500% 100,000 105,188 0.07 15/Jan/2023 135,000 FS Investment Corp. 4.000% 15/Jul/2019 134,741 136,536 0.09 150,000 FS Investment Corp. 4.250% 15/Jan/2020 150,796 153,581 0.12 336,000 General Electric Company FRN 29/Dec/2049 293,495 356,742 0.24 273,000 General Motors Company 4.875% 2/Oct/2023 278,270 293,904 0.20 190,000 General Motors Company 6.250% 2/Oct/2043 211,250 212,819 0.15 280,000 General Motors Financial Company Inc. 276,998 282,142 0.20 4.000% 15/Jan/2025 239,000 General Motors Financial Company Inc. 243,298 244,723 0.17 4.300% 13/Jul/2025 175,000 Goldman Sachs Group Inc. 2.000% 174,514 175,075 0.12 25/Apr/2019 400,000 Goldman Sachs Group Inc. 2.300% 399,699 401,469 0.28 13/Dec/2019 365,000 Goldman Sachs Group Inc. 3.850% 26/Jan/2027 371,175 371,926 0.26 217 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 140,000 Great Plains Energy 3.900% 1/Apr/2027 139,465 141,916 0.10 30,000 Gulfport Energy Corp. 6.000% 15/Oct/2024 30,000 29,241 0.02 330,000 Hartford FRN 15/Jun/2038 371,692 347,248 0.24 195,000 HCA Inc. 5.250% 15/Apr/2025 195,000 210,674 0.15 5,000 HCA Inc. 5.250% 15/Apr/2025 5,189 5,402 0.00 180,000 HCA Inc. 5.250% 15/Jun/2026 183,900 194,897 0.13 150,000 HCA Inc. 7.500% 15/Feb/2022 154,152 172,658 0.12 195,000 Ingram Micro Inc. 5.450% 15/Dec/2024 183,951 200,854 0.14 145,000 International Lease Finance Corp. 5.875% 157,144 154,108 0.11 1/Apr/2019 210,000 Iron Mountain Inc. 5.750% 15/Aug/2024 209,272 215,273 0.15 230,000 Iron Mountain Inc. 6.000% 15/Aug/2023 232,847 244,790 0.17 395,000 Jabil Circuit 4.700% 15/Sep/2022 412,838 421,078 0.29 95,000 Jefferies Group Inc. 8.500% 15/Jul/2019 117,564 106,340 0.07 236,000 Jefferies Group LLC 4.850% 15/Jan/2027 234,598 247,366 0.17 225,000 JPMorgan Chase & Company 3.200% 224,903 222,320 0.15 15/Jun/2026 65,000 JPMorgan Chase & Company 4.625% 71,193 70,184 0.05 10/May/2021 240,000 JPMorgan Chase & Company 4.625% 268,724 259,141 0.18 10/May/2021 210,000 JPMorgan Chase & Company FRN 210,263 219,946 0.15 29/Dec/2049 235,000 JPMorgan Chase & Company FRN 249,576 267,313 0.18 29/Aug/2049 180,000 Kerr-Mcgee Corp. 6.950% 1/Jul/2024 201,274 212,065 0.15 142,000 Keysight Technologies 4.600% 6/Apr/2027 141,820 149,207 0.10 165,000 Kinder Morgan Energy Partners LP 7.750% 170,165 209,529 0.14 15/Mar/2032 130,000 Kinder Morgan Inc. 4.300% 1/Jun/2025 135,246 135,429 0.09 215,000 Kinder Morgan Inc. 5.550% 1/Jun/2045 204,031 228,442 0.16 200,000 Kraft Heinz Foods Company 5.200% 223,978 217,801 0.15 15/Jul/2045 135,000 L Brands Inc. 6.875% 1/Nov/2035 144,759 130,737 0.09 156,000 Lear Corp. 5.250% 15/Jan/2025 168,433 166,467 0.12 190,000 Leucadia National Corp. 5.500% 18/Oct/2023 187,418 203,660 0.14 185,000 LTD Brands Inc. 6.625% 1/Apr/2021 199,730 205,886 0.14 135,000 Masco Corp. 4.375% 1/Apr/2026 135,911 144,423 0.10 160,000 Masco Corp. 4.450% 1/Apr/2025 160,868 171,672 0.12 175,000 Match Group Inc. 6.375% 1/Jun/2024 187,045 190,943 0.13 215,000 Medtronic Inc. 4.625% 15/Mar/2045 214,424 242,693 0.17 15,000 Medtronic Inc. 4.625% 15/Mar/2045 15,824 16,932 0.01 145,000 MetLife Inc. FRN 15/Dec/2036 159,162 167,486 0.12 52,000 Mgic Investment Corp. 5.750% 15/Aug/2023 52,546 56,161 0.04 130,000 Micron Technology Inc. 7.500% 15/Sep/2023 133,150 145,360 0.10 260,000 Microsoft Corp. 4.450% 3/Nov/2045 292,881 289,013 0.20 160,000 Molson Coors Brewing Company 1.450% 159,250 158,160 0.11 15/Jul/2019 280,000 Molson Coors Brewing Company 3.000% 279,566 270,872 0.19 15/Jul/2026 180,000 Morgan Stanley 2.450% 1/Feb/2019 180,143 181,339 0.13 260,000 Morgan Stanley 3.875% 27/Jan/2026 271,454 267,667 0.19 MANULIFE GLOBAL FUND 218

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 155,000 Morgan Stanley 5.500% 26/Jan/2020 180,572 167,420 0.12 60,000 Morgan Stanley 5.500% 26/Jan/2020 66,211 64,808 0.04 30,000 Morgan Stanley 7.300% 13/May/2019 34,441 32,844 0.02 365,000 Morgan Stanley 7.300% 13/May/2019 421,540 399,597 0.28 145,000 MPT Operating Partnership LP 6.375% 146,066 150,007 0.10 15/Feb/2022 185,000 Nationstar Mortgage LLC 6.500% 1/Jul/2021 180,414 189,379 0.13 160,000 Nationstar Mortgage LLC 7.875% 1/Oct/2020 164,152 166,000 0.11 145,000 Nationstar Mortgage LLC 9.625% 1/May/2019 148,252 149,117 0.10 50,000 NCR Corp. 5.875% 15/Dec/2021 52,300 52,206 0.04 105,000 Newell Rubbermaid 2.150% 15/Oct/2018 104,997 105,285 0.07 73,000 Newfield Exploration Company 5.625% 76,393 76,115 0.05 1/Jul/2024 60,000 Newfield Exploration Company 5.750% 63,675 63,106 0.04 30/Jan/2022 130,000 Nextera Energy Capital 1.649% 1/Sep/2018 130,586 129,645 0.09 180,000 Nextera Energy Capital Holdings Inc. 2.300% 180,068 181,089 0.13 1/Apr/2019 265,000 Nextera Energy Capital Holdings Inc. 3.550% 264,247 269,558 0.19 1/May/2027 340,000 Nrg Energy Inc. 6.250% 1/May/2024 304,809 345,834 0.23 180,000 NRG Energy Inc. 6.625% 15/Jan/2027 180,000 180,621 0.13 350,000 NRG Yield Operating LLC 5.375% 307,726 369,251 0.25 15/Aug/2024 130,000 Occidental Petroleum Corp. 3.400% 129,783 131,402 0.09 15/Apr/2026 140,000 Omega Healthcare Investors Inc. 4.500% 138,825 142,003 0.10 15/Jan/2025 195,000 Omega Healthcare Investors Inc. 4.950% 192,837 204,304 0.15 1/Apr/2024 110,000 Omega Healthcare Investors Inc. 5.250% 109,689 117,177 0.08 15/Jan/2026 210,000 Omnicom Group Inc. 3.600% 15/Apr/2026 210,339 212,364 0.14 90,000 Oneok Partners LP 5.000% 15/Sep/2023 96,584 97,737 0.07 160,000 Owens Corning 4.200% 15/Dec/2022 160,784 169,450 0.12 170,000 Prudential Financial Inc. FRN 15/Mar/2044 169,663 181,562 0.13 97,000 Prudential Financial Inc. 5.875% 15/Sep/2042 101,180 108,168 0.07 95,000 Radian Group Inc. 5.250% 15/Jun/2020 86,724 100,938 0.07 168,000 Radian Group Inc. 7.000% 15/Mar/2021 176,196 188,580 0.13 50,000 Regency Energy Partners LP 5.000% 49,579 53,708 0.04 1/Oct/2022 325,000 Regency Energy Partners LP 5.500% 316,851 336,984 0.24 15/Apr/2023 45,000 Regency Energy Partners LP 5.875% 44,290 49,903 0.03 1/Mar/2022 100,000 Resolute Energy Corp. 8.500% 1/May/2020 99,588 99,486 0.07 155,000 Revlon Consumer Products Corp. 5.750% 155,348 143,069 0.10 15/Feb/2021 130,000 Revlon Consumer Products Corp. 6.250% 134,413 113,677 0.08 1/Aug/2024 165,000 S&P Global Inc. 4.000% 15/Jun/2025 164,248 173,774 0.13 219 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 130,000 S&P Global Inc. 4.400% 15/Feb/2026 129,546 140,290 0.10 132,000 Sabine Pass Liquefaction LLC 5.000% 139,051 140,521 0.10 15/Mar/2027 315,000 Santander Holdings USA Inc. 2.700% 314,937 317,325 0.22 24/May/2019 245,000 Select Medical Corp. 6.375% 1/Jun/2021 226,346 252,698 0.18 131,000 Service Corp. International 5.375% 137,920 138,546 0.10 15/May/2024 165,000 Sherwin-Williams Company 2.250% 164,995 165,377 0.11 15/May/2020 270,000 Southern Power Company 1.950% 269,933 268,708 0.19 15/Dec/2019 53,000 Sovereign Capital Trust VI 7.908% 56,989 53,460 0.04 13/Jun/2036 165,000 Sprint Capital Corp. 6.875% 15/Nov/2028 170,363 183,506 0.13 165,000 Stifel Financial Corp. 4.250% 18/Jul/2024 163,673 168,481 0.12 50,000 Stifel Financial Corp. 4.250% 18/Jul/2024 50,114 51,055 0.04 140,000 Summit Midstream Holdings LLC 5.750% 140,000 141,481 0.10 15/Apr/2025 270,000 Sunoco Logistics Partners Operations LP 271,319 266,103 0.18 3.900% 15/Jul/2026 154,000 Sunocologistics Partner 4.400% 1/Apr/2021 154,739 162,897 0.11 95,000 Supervalu Inc. 7.750% 15/Nov/2022 93,006 92,863 0.06 142,000 Synovus Financial Corp. 7.875% 15/Feb/2019 149,500 153,893 0.11 80,000 Tesoro Logistics LP 5.250% 15/Jan/2025 80,113 84,395 0.06 220,000 Tesoro Logistics LP 6.125% 15/Oct/2021 209,840 228,862 0.16 155,000 Tesoro Logistics LP 6.375% 1/May/2024 158,587 168,229 0.12 60,000 Time Warner Cable Inc. 8.250% 1/Apr/2019 69,497 66,170 0.05 110,000 Time Warner Cable Inc. 8.250% 1/Apr/2019 142,746 121,311 0.08 210,000 Time Warner Inc. 3.800% 15/Feb/2027 209,192 211,409 0.14 160,000 T-Mobile USA Inc. 6.125% 15/Jan/2022 166,471 168,166 0.12 140,000 United Rentals North America Inc. 5.500% 140,000 147,231 0.10 15/Jul/2025 25,000 United Rentals North America Inc. 5.500% 24,973 26,291 0.02 15/Jul/2025 100,000 United Rentals North America Inc. 5.750% 100,250 104,860 0.07 15/Nov/2024 305,000 Ventas Realty 3.500% 1/Feb/2025 296,270 304,033 0.21 55,000 Ventas Realty LP 3.750% 1/May/2024 55,498 56,153 0.04 170,000 Vereit Operating Partnership LP 4.600% 169,240 177,653 0.12 6/Feb/2024 155,000 Verisign Inc. 5.250% 1/Apr/2025 155,570 166,325 0.12 335,000 Verisk Analytics Inc. 4.000% 15/Jun/2025 343,693 346,268 0.24 180,000 Verizon Communications Inc. 4.400% 186,118 178,701 0.12 1/Nov/2034 190,000 Verizon Communications Inc. 4.672% 15/Mar/2055 191,383 178,796 0.12 MANULIFE GLOBAL FUND 220

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 460,000 Verizon Communications Inc. 4.862% 438,158 459,809 0.32 21/Aug/2046 175,000 Verizon Communications Inc. 5.012% 148,840 173,923 0.12 21/Aug/2054 135,000 Vista Outdoor 5.875% 1/Oct/2023 140,528 139,102 0.10 175,000 Wells Fargo & Company 4.650% 4/Nov/2044 175,033 183,513 0.13 465,000 Wells Fargo & Company FRN 29/Dec/2049 488,183 515,717 0.35 161,000 Wells Fargo & Company FRN 29/Mar/2049 179,402 167,225 0.12 80,000 Welltower Inc. 3.750% 15/Mar/2023 79,134 83,142 0.06 170,000 Williams Companies 5.750% 24/Jun/2044 176,138 175,304 0.12 280,000 Williams Companys Inc. 4.550% 24/Jun/2024 287,894 288,466 0.20 190,000 Williams Partners LP 3.750% 15/Jun/2027 189,903 188,573 0.13 160,000 Williams Partners LP 4.875% 15/May/2023 158,748 166,020 0.11 311,000 Williams Partners LP 4.875% 15/Mar/2024 314,239 326,344 0.22 240,000 Zimmer Biomet Holdings 3.550% 1/Apr/2025 238,025 242,533 0.17 39,034,242 40,217,245 27.82 Bonds Total 47,987,844 49,526,650 34.26 Bonds convertibles United States 108 Wells Fargo & Company 7.500% 31/Dec/2049 139,995 141,048 0.10 139,995 141,048 0.10 Bonds convertibles Total 139,995 141,048 0.10 Equities United States 5,608 Dominion Resources Inc. 15/Aug/2019 282,959 283,035 0.20 2,670 DTE Energy Company 1/Oct/2019 133,500 145,782 0.10 7,950 GMAC Capital Trust I 15/Feb/2040 214,229 206,939 0.14 6,375 Goldman Sachs Group Inc. 159,375 178,309 0.12 3,412 Regions Financial Corp. 85,300 87,392 0.06 875,363 901,457 0.62 Equities Total 875,363 901,457 0.62 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 58,902,829 60,874,753 42.10 221 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities Supranationals, Governments and Local Public Authorities, Debt Instruments United States 775,000 United States Treasury Inflation Indexed Bonds 0.375% 15/Jan/2027 1,605,000 United States Treasury Inflation Indexed N/B 0.377% 15/Jul/2025 3,595,000 United States Treasury N/B 1.625% 15/Mar/2020 2,548,000 United States Treasury N/B 2.375% 15/May/2027 768,330 772,818 0.53 1,556,349 1,646,836 1.14 3,606,283 3,608,762 2.50 2,562,045 2,569,698 1.78 8,493,007 8,598,114 5.95 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 8,493,007 8,598,114 5.95 Mortgage and Asset Backed Securities United States 255,000 Ally Auto Receivables Trust 1.740% 254,973 255,262 0.18 15/Sep/2021 325,000 Allya 1.750% 15/May/2020 325,026 325,554 0.23 126,646 American Airlines Pass Through Trust 4.100% 126,646 132,820 0.09 15/Jan/2028 540,000 American Express Credit Account Master 539,873 543,098 0.38 Trust 1.950% 15/Sep/2022 680,000 BA Credit Card Trust 1.950% 15/Aug/2022 679,804 683,669 0.47 220,000 BMW Vehicle Owner Trust 1.370% 219,977 217,554 0.15 27/Dec/2022 480,000 Cabela s Credit Card Master Note Trust FRN 479,993 480,101 0.33 15/Jun/2022 375,000 California Republic Auto Receivables Trust 374,249 375,270 0.26 1.750% 16/Sep/2019 175,000 California Republic Auto Receivables Trust 174,967 175,020 0.12 1.830% 15/Dec/2021 455,000 Capital One Multi-asset Execution Trust 454,997 452,477 0.31 1.340% 15/Apr/2022 235,000 CarMax Auto Owner Trust 1.680% 234,922 234,046 0.16 15/Sep/2021 160,000 CarMax Auto Owner Trust 1.800% 159,958 160,307 0.11 15/Mar/2021 195,000 CarMax Auto Owner Trust 1.880% 194,989 195,297 0.14 15/Jun/2021 240,000 CD FRN 11/Feb/2050 246,935 252,659 0.18 805,000 CHAIT 1.270% 15/Jul/2021 795,597 798,846 0.55 340,000 Chase Issuance Trust 1.370% 15/Jun/2021 339,999 338,181 0.23 MANULIFE GLOBAL FUND 222

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 585,000 Citibank Credit Card Issuance Trust 1.750% 584,969 585,772 0.41 19/Nov/2021 190,000 CNH Equipment Trust 1.630% 16/Aug/2021 189,952 189,940 0.13 540,000 CNH Equipment Trust 1.660% 16/Nov/2020 539,943 540,851 0.37 585,000 Comet 2.000% 17/Jan/2023 584,930 588,071 0.41 20,438,556 Commercial Mortgage Pass Through 639,323 459,561 0.31 Certificate FRN 10/Jun/2046 2,923,829 Commercial Mortgage Pass Through 237,820 125,289 0.09 Certificate FRN 10/Feb/2047 1,736,892 Commercial Mortgage Pass Through 123,279 122,746 0.08 Certificate 2.219% 15/Oct/2045 160,000 Commercial Mortgage Pass Through 165,724 169,090 0.12 Certificate FRN 10/Oct/2048 150,000 Commercial Mortgage Pass Through 155,889 160,573 0.11 Certificate 4.934% 10/Feb/2022 290,000 Commercial Mortgage Pass Through 296,457 299,197 0.21 Certificate FRN 10/Apr/2024 470,000 Commercial Mortgage Pass Through 496,140 516,509 0.35 Certificate FRN 10/Sep/2023 80,000 Dbjpm FRN 10/Sep/2049 77,913 76,729 0.05 105,000 Dbjpm 4.174% 10/Jun/2027 108,145 107,268 0.07 660,000 Discover Card Execution Note Trust 1.640% 660,595 660,936 0.46 15/Jul/2021 2,394,794 Fannie Mae 3.500% 1/Apr/2045 2,526,133 2,475,572 1.70 449,916 Fannie Mae Pool 3.000% 1/Jul/2027 475,400 463,555 0.32 1,312,872 Fannie Mae Pool 3.000% 1/Oct/2042 1,320,462 1,321,112 0.91 253,359 Fannie Mae Pool 3.000% 1/Dec/2042 264,048 254,391 0.18 115,143 Fannie Mae Pool 3.000% 1/Mar/2043 115,917 116,007 0.08 157,943 Fannie Mae Pool 3.000% 1/May/2043 159,004 159,127 0.11 55,671 Fannie Mae Pool 3.500% 1/Feb/2026 59,168 58,031 0.04 354,730 Fannie Mae Pool 3.500% 1/Mar/2026 376,568 369,750 0.26 1,296,195 Fannie Mae Pool 3.500% 1/May/2042 1,360,194 1,342,351 0.93 903,517 Fannie Mae Pool 3.500% 1/Nov/2042 939,517 933,727 0.65 499,828 Fannie Mae Pool 3.500% 1/Apr/2043 532,474 517,504 0.36 973,811 Fannie Mae Pool 3.500% 1/Jul/2043 1,014,285 1,008,472 0.70 67,668 Fannie Mae Pool 4.000% 1/Dec/2024 72,806 72,078 0.05 346,416 Fannie Mae Pool 4.000% 1/Sep/2040 372,519 366,447 0.25 617,620 Fannie Mae Pool 4.000% 1/Sep/2041 663,508 653,418 0.45 457,343 Fannie Mae Pool 4.000% 1/Oct/2041 491,144 484,227 0.33 228,215 Fannie Mae Pool 4.000% 1/Oct/2041 238,627 242,846 0.17 291,029 Fannie Mae Pool 4.000% 1/Jan/2042 305,126 309,654 0.21 299,696 Fannie Mae Pool 4.000% 1/Mar/2042 320,815 317,289 0.22 838,385 Fannie Mae Pool 4.000% 1/Nov/2043 890,719 892,919 0.62 1,642,429 Fannie Mae Pool 4.000% 1/Oct/2046 1,771,257 1,730,245 1.19 1,214,477 Fannie Mae Pool 4.500% 1/May/2041 1,323,210 1,310,707 0.91 934,287 Fannie Mae Pool 4.500% 1/Jun/2041 997,259 1,012,294 0.70 146,961 Fannie Mae Pool 4.500% 1/Nov/2041 158,534 158,369 0.11 1,003,492 Fannie Mae Pool 4.500% 1/May/2042 1,096,080 1,088,907 0.75 851,877 Fannie Mae Pool 5.000% 1/Apr/2035 931,657 934,945 0.65 776,596 Fannie Mae Pool 5.500% 1/Feb/2035 849,227 870,409 0.60 54,233 Fannie Mae Pool 5.500% 1/Aug/2040 59,139 60,404 0.04 98,483 Fannie Mae Pool 6.000% 1/Aug/2035 108,100 112,884 0.08 140,430 Fannie Mae Pool 6.500% 1/Jan/2039 156,271 156,291 0.11 223 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 227,000 Ford Credit Auto Owner Trust 1.400% 226,036 224,461 0.16 15/Feb/2022 130,000 Ford Credit Auto Owner Trust 1.520% 129,979 129,409 0.09 15/Aug/2021 205,000 Ford Credit Auto Owner Trust 1.580% 204,968 204,933 0.14 15/Aug/2020 210,000 Ford Credit Auto Owner Trust 1.640% 210,042 210,299 0.15 15/Jun/2020 67,000 Fordo 1.870% 15/Sep/2022 66,988 67,013 0.05 11,850,402 Freddie Mac FRN 25/Jan/2022 400,918 299,282 0.21 5,443,834 Freddie Mac FRN 25/Jul/2022 507,581 283,390 0.20 1,402,488 Freddie Mac FRN 25/Dec/2021 156,966 69,706 0.05 1,665,988 Freddie Mac FRN 25/Jan/2022 187,072 84,145 0.06 1,220,649 Freddie Mac FRN 25/Nov/2019 37,287 35,686 0.02 405,949 Freddie Mac FRN 25/Jun/2022 48,499 24,552 0.02 1,551,683 Freddie Mac FRN 25/Mar/2019 140,385 32,763 0.02 4,299,710 Freddie Mac FRN 25/Jul/2019 433,550 112,345 0.08 1,836,745 Freddie Mac FRN 25/May/2019 171,065 49,319 0.03 411,420 Freddie Mac Gold Pool 3.000% 1/Mar/2043 413,541 414,178 0.29 785,206 Freddie Mac Gold Pool 3.500% 1/Apr/2044 816,369 815,050 0.56 1,902,099 Freddie Mac Gold Pool 3.500% 1/Oct/2046 2,017,711 1,970,523 1.36 716,212 Freddie Mac Gold Pool 4.000% 1/Nov/2043 753,145 763,242 0.53 286,380 Freddie Mac Gold Pool 5.000% 1/Mar/2041 304,234 312,558 0.22 1,687,730 Ginnie Mae FRN 16/Apr/2058 114,081 120,344 0.08 2,257,787 Ginnie Mae FRN 16/Sep/2058 162,570 166,952 0.12 993,345 Ginnie Mae FRN 16/May/2059 83,953 85,439 0.06 784,374 Ginnie Mae FRN 16/Jan/2053 98,759 43,094 0.03 1,213,372 Ginnie Mae FRN 16/Nov/2056 105,319 100,668 0.07 2,126,682 Ginnie Mae FRN 16/Sep/2058 172,872 166,236 0.11 1,879,964 Ginnie Mae FRN 16/Sep/2058 163,740 153,730 0.11 872,614 Ginnie Mae FRN 16/Sep/2058 79,200 73,501 0.05 1,370,801 Ginnie Mae FRN 16/Aug/2058 115,641 104,435 0.07 790,928 Ginnie Mae FRN 16/Dec/2057 76,918 80,758 0.06 105,000 GS Mortgage Securities Corp. 4.299% 108,143 110,557 0.08 10/Mar/2050 85,000 GS Mortgage Securities Corp. FRN 87,548 87,629 0.06 10/May/2050 3,838,547 GS Mortgage Securities Trust FRN 405,278 285,991 0.20 10/May/2045 360,000 Harot 1.720% 21/Jul/2021 359,979 360,480 0.25 75,000 Harot 1.870% 15/Sep/2023 74,994 75,022 0.05 285,000 Hart 1.760% 16/Aug/2021 284,977 285,519 0.20 490,000 Honda Auto Receivables Owner Trust 1.330% 489,880 486,524 0.33 18/Nov/2022 295,000 Honda Auto Receivables Owner Trust 1.360% 294,927 292,316 0.20 18/Jan/2023 290,000 Honda Auto Receivables Owner Trust 1.470% 289,970 290,084 0.20 21/Jun/2018 404,000 Honda Auto Receivables Owner Trust 1.560% 404,325 404,146 0.28 18/Oct/2021 340,000 Honda Auto Receivables Owner Trust 1.620% 15/Aug/2022 339,995 339,392 0.23 MANULIFE GLOBAL FUND 224

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 505,000 Huntington Auto Trust 1.930% 15/Apr/2022 504,980 506,346 0.34 200,000 Imsa FRN 25/Feb/2035 185,625 189,785 0.13 335,000 John Deere Owner Trust 1.500% 334,933 335,312 0.23 15/Dec/2017 161,000 John Deere Owner Trust 1.650% 160,950 161,230 0.11 15/May/2018 335,000 JPMBB Commercial Mortgage Securities 339,657 347,475 0.24 Trust FRN 15/Apr/2024 105,000 JPMorgan Chase Commercial Mortgage 102,250 100,381 0.07 Securities Corp. FRN 15/Aug/2049 191,000 MSBAM FRN 15/Jan/2023 190,449 189,636 0.13 180,000 Nissan Auto Receivables Owner Trust 1.540% 180,000 178,415 0.12 17/Oct/2022 180,000 Nissan Auto Receivables Owner Trust 1.740% 179,981 180,485 0.12 16/Aug/2021 470,000 Nissan Master Owner Trust Receivables 469,579 470,093 0.33 1.440% 15/Jan/2020 136,842 Opmac FRN 25/Jul/2035 133,981 135,531 0.09 270,000 Synchrony Credit Card Master Note Trust 269,943 271,427 0.19 2.040% 15/Mar/2022 275,000 TAOT 1.730% 16/Feb/2021 274,968 275,520 0.19 325,000 TAOT 1.760% 15/Jul/2021 324,975 325,759 0.23 175,000 Toyota Auto Receivables Owner Trust 1.320% 174,992 173,273 0.12 15/Nov/2021 215,000 Toyota Auto Receivables Owner Trust 1.520% 214,951 214,333 0.15 16/Aug/2021 300,000 Toyota Auto Receivables Owner Trust 1.740% 300,017 300,326 0.21 15/Sep/2020 65,000 Wells Fargo Commercial Mortgage Trust FRN 66,949 66,472 0.05 15/Dec/2047 125,000 Wells Fargo Commercial Mortgage Trust 128,744 128,006 0.09 4.311% 15/Mar/2050 185,000 Wells Fargo Commercial Mortgage Trust FRN 190,390 199,200 0.14 15/Sep/2058 713,257 Wells Fargo Home Equity Trust FRN 697,208 702,590 0.50 25/Dec/2035 85,000 WFRBS Commercial Mortgage Trust FRN 84,995 90,687 0.06 15/Aug/2046 145,000 WFRBS Commercial Mortgage Trust FRN 148,231 158,611 0.11 15/Sep/2023 415,000 World Omni Auto Receivables Trust 1.770% 414,911 415,679 0.28 15/Sep/2021 48,026,216 46,348,868 32.05 Mortgage and Asset Backed Securities Total 48,026,216 46,348,868 32.05 225 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Bonds Netherlands 175,000 Mylan NV 2.500% 7/Jun/2019 174,804 176,489 0.12 255,000 Mylan NV 3.950% 15/Jun/2026 253,039 258,465 0.18 427,843 434,954 0.30 United States 465,000 Activision Blizzard 3.400% 15/Sep/2026 466,513 467,225 0.32 230,000 Aecom 5.125% 15/Mar/2027 229,999 231,725 0.16 30,401 America West Airlines 8.057% 2/Jul/2020 30,436 34,946 0.02 141,177 American Airlines 3.700% 1/May/2023 141,177 140,471 0.10 80,000 American Airlines 4.000% 15/Feb/2029 80,000 81,591 0.06 194,100 American Airlines Pass Through Trust 4.950% 197,135 207,444 0.14 15/Jan/2023 305,000 American Honda Finance Corp. 2.000% 304,567 305,977 0.21 14/Feb/2020 335,000 Amgen Inc. 1.900% 10/May/2019 334,829 335,479 0.23 150,000 Antero Midstream Partners 5.375% 150,664 154,125 0.11 15/Sep/2024 145,000 Ares Capital Corporation 3.875% 15/Jan/2020 144,972 148,315 0.10 220,000 Autodesk Inc. 3.500% 15/Jun/2027 218,618 216,709 0.15 400,000 Branch Banking & Trust Company 2.100% 399,968 401,727 0.27 15/Jan/2020 320,000 Brighthouse Financial Inc. 3.700% 319,734 317,026 0.22 22/Jun/2027 280,000 Broadcom Corp. 2.375% 15/Jan/2020 279,367 280,708 0.19 319,000 Broadcom Corp. 3.875% 15/Jan/2027 318,091 327,732 0.23 26,000 CDW 5.000% 1/Sep/2025 26,000 26,988 0.02 336,000 Charter Communications Operating LLC 357,319 402,977 0.28 6.484% 23/Oct/2045 75,000 Cheniere Corp. 5.125% 30/Jun/2027 75,550 76,725 0.05 90,000 Cheniere Corp. 5.875% 31/Mar/2025 90,000 96,061 0.07 161,000 Clear Channel Worldwide Holdings Inc. 167,481 165,623 0.11 6.500% 15/Nov/2022 44,000 Commercial Metals Company 5.375% 44,000 44,165 0.03 15/Jul/2027 176,794 Continental Airlines Inc. 5.983% 19/Apr/2022 180,340 195,358 0.14 65,405 Continental Airlines Inc. 6.250% 11/Apr/2020 65,405 69,411 0.05 42,052 Continental Airlines Inc. 6.545% 2/Feb/2019 44,559 43,955 0.03 3,675 Continental Airlines Inc. 6.648% 15/Sep/2017 3,561 3,709 0.00 8,722 Continental Airlines Inc. 6.900% 2/Jan/2018 9,225 8,887 0.01 2,005 Continental Airlines Inc. 8.307% 2/Apr/2018 2,105 2,093 0.00 74,813 Delta Air Lines Inc. 5.300% 15/Apr/2019 74,680 78,741 0.05 45,765 Delta Air Lines Inc. 6.200% 2/Jul/2018 46,541 47,624 0.03 103,526 Delta Air Lines Inc. 6.718% 2/Jan/2023 100,243 116,467 0.08 80,000 Eldorado Resorts Inc. 7.000% 1/Aug/2023 80,338 86,700 0.06 145,000 Emera USA Finance LP 3.550% 15/Jun/2026 144,601 145,877 0.10 150,000 Enbridge Energy Partners FRN 1/Oct/2037 146,625 149,791 0.10 150,000 Enterprise Products Operating LLC FRN 1/Aug/2066 162,712 150,722 0.10 MANULIFE GLOBAL FUND 226

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 380,000 Expedia Inc. 5.000% 15/Feb/2026 385,049 418,063 0.29 155,000 Fifth Third Bancorp FRN 31/Dec/2049 155,000 158,514 0.11 144,000 Gci Inc. 6.875% 15/Apr/2025 144,125 156,600 0.11 85,000 General Electric Capital Corp. FRN 66,140 77,974 0.05 15/Aug/2036 140,000 GLP Capital LP 5.375% 15/Apr/2026 145,473 153,187 0.10 70,000 Hilton Grand Vacations Borrower LLC 6.125% 70,000 76,563 0.05 1/Dec/2024 90,000 International Lease Finance Corp. P.P. 144A 92,873 95,063 0.07 7.125% 1/Sep/2018 205,000 Kraft Heinz Foods Company 2.000% 206,273 205,468 0.14 2/Jul/2018 280,000 Liberty Mutual Group P.P. 144A 7.800% 267,853 352,099 0.25 15/Mar/2037 175,000 Lifepoint Health Inc. 5.375% 1/May/2024 175,126 181,125 0.13 200,000 M&T Bank Corp. FRN 29/Dec/2049 200,000 207,976 0.14 130,000 Manufacturers & Traders Trust Company FRN 136,386 128,023 0.09 1/Dec/2021 85,000 Medco Health Solutions Inc. 7.125% 100,373 88,229 0.06 15/Mar/2018 165,000 Micron Technology Inc. 5.875% 15/Feb/2022 166,467 172,704 0.12 190,000 Newstar Financial Inc. 7.250% 1/May/2020 190,000 195,700 0.14 55,000 Newstar Financial Inc. 7.250% 1/May/2020 53,734 56,650 0.04 110,390 Northwest Airlines 7.027% 1/Nov/2019 114,108 122,423 0.08 210,000 PNC Financial Services FRN 29/May/2049 205,461 215,620 0.15 170,000 PNC Financial Services FRN 31/Dec/2049 179,415 191,818 0.13 275,000 QVC Inc. 4.375% 15/Mar/2023 271,713 278,946 0.19 175,000 QVC Inc. 5.125% 2/Jul/2022 181,282 185,646 0.13 190,000 QVC Inc. 5.450% 15/Aug/2034 186,180 181,028 0.13 25,000 Resolute Energy Corp. 8.500% 1/May/2020 25,406 24,969 0.02 95,000 Sabine Pass Liquefaction 5.750% 104,597 105,749 0.07 15/May/2024 141,000 Sabine Pass Liquefaction LLC 4.200% 140,863 142,414 0.10 15/Mar/2028 122,000 Sirius XM Radio Inc. P.P. 144A 5.250% 128,434 125,889 0.09 15/Aug/2022 80,000 Southern California Edison Company FRN 81,441 89,290 0.06 29/Aug/2049 275,000 State Street Corp. FRN 15/Jun/2037 203,105 254,261 0.18 205,000 Teachers Insurance & Annuity Association of 231,676 280,980 0.19 America P.P. 144A 6.850% 16/Dec/2039 320,000 Tech Data Corp. 4.950% 15/Feb/2027 321,491 341,229 0.24 170,000 United Airlines 3.450% 7/Jul/2028 170,000 172,869 0.12 269,567 United Airlines 3.750% 3/Sep/2026 272,171 279,676 0.19 124,356 United Airlines 4.625% 3/Sep/2022 126,593 128,397 0.09 131,348 US Airways Group Inc. 5.900% 1/Oct/2024 140,261 147,438 0.10 76,581 US Airways Group Inc. 6.250% 22/Apr/2023 80,512 85,388 0.06 230,000 US Bank Na/cincinnati Oh 2.000% 229,515 231,070 0.16 24/Jan/2020 80,000 US Concrete Inc. 6.375% 1/Jun/2024 84,600 84,900 0.06 75,000 Verisign Inc. 4.750% 15/Jul/2027 75,000 75,891 0.05 290,000 Voya Financial Inc. FRN 15/May/2053 291,266 309,659 0.21 227 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets 15,919 0 0.00 United States (continued) 15,919 Waterford Gaming P.P. 144A 8.625% 15/Sep/2049 a 175,000 Whole Foods Market Inc. 5.200% 3/Dec/2025 175,192 201,412 0.14 150,000 Zebra Technologies Company 7.250% 153,957 159,825 0.11 15/Oct/2022 12,182,385 12,703,799 8.76 Bonds Total 12,610,228 13,138,753 9.06 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities 69,129,451 68,085,735 47.06 Other transferable securities and money market instruments (2) Mortgage and Asset Backed Securities United States 335,000 Americold LLC Trust FRN 14/Jan/2021 361,396 377,013 0.25 115,000 Bbcms FRN 15/Feb/2020 115,000 114,846 0.08 130,000 CD FRN 10/Feb/2037 133,020 135,554 0.09 205,000 Coinstar Funding LLC 5.216% 25/Apr/2047 205,000 209,230 0.14 310,000 DPABS 4.118% 25/Jul/2047 309,999 312,712 0.23 105,000 IMIT 3.614% 15/Jun/2034 104,916 104,916 0.07 235,000 New Century Home Equity Loan Trust FRN 219,798 220,167 0.15 25/Mar/2035 154,096 Sonic Capital LLC 4.472% 20/May/2046 154,096 153,682 0.11 180,000 TMSQ 3.963% 10/Oct/2036 175,990 176,272 0.12 318,455 Tpmt 2016-5 A1 FRN 25/Oct/2056 318,288 318,551 0.22 440,000 Verizon Owner Trust 2.060% 20/Sep/2021 439,920 442,519 0.31 461,775 Wendys Funding LLC 3.371% 15/Jun/2045 464,445 465,901 0.32 3,001,868 3,031,363 2.09 Mortgage and Asset Backed Securities Total 3,001,868 3,031,363 2.09 Bonds Bermuda 115,000 Digicel Group Limited 8.250% 30/Sep/2020 124,200 107,901 0.07 150,000 Digicel Limited 6.750% 1/Mar/2023 130,500 141,482 0.10 60,000 IHS Markit Limited 4.750% 15/Feb/2025 60,000 64,500 0.04 85,000 IHS Markit Limited 5.000% 1/Nov/2022 88,545 91,709 0.06 403,245 405,592 0.27 MANULIFE GLOBAL FUND 228

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets Canada 180,000 Air Canada Pass Through Trust 6.625% 185,175 185,850 0.13 15/May/2018 138,000 Cascades Inc. 5.500% 15/Jul/2022 136,723 141,450 0.10 90,000 Gateway Casinos & Entertainment Limited 90,000 94,104 0.07 8.250% 1/Mar/2024 80,000 Lions Gate Entertainment Corp. 5.875% 81,750 84,000 0.06 1/Nov/2024 140,000 MDC Partners Inc. 6.500% 1/May/2024 134,641 140,000 0.10 115,000 Norbord Inc. 6.250% 15/Apr/2023 115,000 123,786 0.08 210,000 Nova Chemicals Corp. 5.000% 1/May/2025 217,183 210,263 0.15 200,000 Valeant Pharmaceuticals International P.P. 159,661 170,191 0.12 144A 6.125% 15/Apr/2025 1,120,133 1,149,644 0.81 France 125,000 AXA SA FRN 14/Dec/2036 132,188 140,334 0.10 132,188 140,334 0.10 Germany 235,000 Commerzbank AG 8.125% 19/Sep/2023 246,321 283,661 0.20 246,321 283,661 0.20 Guernsey Channel Islands 91,121 Doric Nimrod Air Two Limited 6.125% 91,690 94,192 0.07 30/Nov/2019 91,690 94,192 0.07 Netherlands 250,000 ING Bank NV 5.800% 25/Sep/2023 264,048 282,953 0.20 264,048 282,953 0.20 United Kingdom 68,334 British Airways 5.625% 20/Jun/2020 69,280 71,751 0.05 130,000 International Game Tech P.P. 144A 6.500% 130,587 143,488 0.10 15/Feb/2025 199,867 215,239 0.15 United States 150,000 Activision Blizzard Inc. P.P. 144A 6.125% 163,673 161,912 0.11 15/Sep/2023 240,000 Ahern Rentals Inc. P.P. 144A 7.375% 227,267 196,800 0.14 15/May/2023 272,653 American Airlines 7.000% 31/Jan/2018 291,352 281,719 0.20 110,000 ASP AMC Merger Sub 8.000% 15/May/2025 109,163 104,638 0.07 50,000 Boise Cascade Company 5.625% 1/Sep/2024 50,325 51,875 0.04 105,000 CCM Merger Inc. 6.000% 15/Mar/2022 105,000 108,544 0.08 135,000 Cengage Learning Inc. 9.500% 15/Jun/2024 117,400 119,475 0.08 160,000 Chester Downs & Marina LLC 9.250% 160,794 164,200 0.11 1/Feb/2020 126,000 Cincinnati Bell Inc. 7.000% 15/Jul/2024 130,184 131,556 0.09 65,000 Covenant Surgical 8.750% 1/Aug/2019 65,163 64,025 0.04 160,000 Crown Castle Towers LLC 6.113% 174,870 172,248 0.12 15/Jan/2020 220,000 DCP Midstream LLC P.P. 144A FRN 220,000 205,700 0.14 21/May/2043 175,000 DCP Midstream LLC P.P. 144A 9.750% 15/Mar/2019 233,050 196,000 0.14 229 MANULIFE GLOBAL FUND

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 465,000 Diamond 1 Finance Corp. 6.020% 465,044 514,292 0.35 15/Jun/2026 50,000 Diamond 1 Finance Corp. 7.125% 50,000 55,167 0.04 15/Jun/2024 50,000 Enersys P.P. 144A 5.000% 30/Apr/2023 50,146 51,750 0.04 71,000 Exela Intermediate 10.000% 15/Jul/2023 69,403 69,935 0.05 135,000 Florida East Coast Holdings Corp. P.P. 144A 135,733 138,881 0.10 6.750% 1/May/2019 37,000 Gartner Inc. 5.125% 1/Apr/2025 37,000 39,035 0.03 40,000 Huntington Ingalls Industries 5.000% 40,000 43,100 0.03 15/Nov/2025 190,000 Huntington Ingalls Industries Inc. P.P. 144A 196,664 197,600 0.14 5.000% 15/Dec/2021 64,000 J2 Cloud LLC 6.000% 15/Jul/2025 64,180 66,114 0.05 65,000 Jacobs Entertainment 7.875% 1/Feb/2024 67,220 71,013 0.05 120,000 Kronos Acquisition Holdings 9.000% 121,070 119,850 0.08 15/Aug/2023 53,000 Ladder Capital Finance Holdings 5.250% 53,000 54,855 0.04 15/Mar/2022 91,000 Laureate Education Inc. 8.250% 1/May/2025 91,000 97,257 0.07 160,000 LSC Communications 8.750% 15/Oct/2023 160,097 167,600 0.11 50,000 McGraw-Hill Global Education Holdings LLC 50,000 48,750 0.03 7.875% 15/May/2024 40,000 Mednax Inc. 5.250% 1/Dec/2023 40,000 41,385 0.03 65,000 Metlife Capital Trust IV P.P. 144A 7.875% 82,063 87,750 0.06 15/Dec/2037 100,000 Metlife Inc. 9.250% 8/Apr/2038 121,258 148,750 0.10 90,000 Midcontinent Communications 6.875% 90,000 97,650 0.07 15/Aug/2023 275,000 Platform Specialty Products Corp. P.P. 144A 273,998 283,783 0.19 6.500% 1/Feb/2022 95,000 Post Holdings Inc. 5.750% 1/Mar/2027 95,000 98,167 0.07 90,000 Prime Security Services Borrower LLC 90,000 98,093 0.07 9.250% 15/May/2023 205,000 Quicken Loans Inc. P.P. 144A 5.750% 195,919 212,175 0.15 1/May/2025 70,000 Quintiles Transnational Corp. P.P. 144A 71,750 72,275 0.05 4.875% 15/May/2023 135,000 Radiate Holdco LLC 6.625% 15/Feb/2025 134,713 136,350 0.09 125,000 Sinclair Television Group Inc. P.P. 144A 122,354 129,063 0.09 5.625% 1/Aug/2024 55,000 Sirius Xm Radio Inc. 3.875% 1/Aug/2022 55,000 55,688 0.04 100,000 Sirius Xm Radio Inc. 5.000% 1/Aug/2027 100,000 100,925 0.07 125,000 Sirius XM Radio Inc. P.P. 144A 5.375% 123,699 129,375 0.09 15/Apr/2025 185,000 Sirius XM Radio Inc. 5.375% 15/Jul/2026 185,000 191,817 0.13 109,000 Spl Logistics Escrow LLC P.P. 144A 8.875% 109,485 85,293 0.06 1/Aug/2020 85,000 Stearns Holdings Inc. 9.375% 15/Aug/2020 84,788 87,975 0.06 56,000 Symantec Corp. 5.000% 15/Apr/2025 56,000 58,743 0.04 MANULIFE GLOBAL FUND 230

U.S. BOND FUND Portfolio of Investments as at 30 June 2017 Quantity/ Par Value Description Cost USD Market Value USD % of Net Assets United States (continued) 70,000 Tallgrass Energy Partners 5.500% 70,075 71,400 0.05 15/Sep/2024 30,000 Tempo Acquisition LLC 6.750% 1/Jun/2025 30,000 30,825 0.02 35,000 Tennessee Merger Sub Inc. 6.375% 35,000 34,256 0.02 1/Feb/2025 45,000 Tutor Perini Corp. 6.875% 1/May/2025 45,000 47,363 0.03 130,000 Universal Health Services Inc. 4.750% 131,950 134,469 0.09 1/Aug/2022 162,000 Universal Health Services Inc. 5.000% 162,646 168,176 0.12 1/Jun/2026 75,000 Vector Group Limited 6.125% 1/Feb/2025 75,000 78,281 0.05 235,000 XPO Logistics Inc. P.P. 144A 6.500% 224,940 246,350 0.16 15/Jun/2022 67,000 Zayo Group LLC 5.750% 15/Jan/2027 69,680 70,266 0.05 6,574,116 6,690,534 4.62 Bonds Total 9,031,608 9,262,149 6.42 Bonds convertibles United States 135,000 NRG Yield Inc. 3.250% 1/Jun/2020 135,000 135,998 0.09 135,000 135,998 0.09 Bonds convertibles Total 135,000 135,998 0.09 Total Other transferable securities and money market instruments (2) 12,168,476 12,429,510 8.60 Portfolio of Investments 140,200,756 141,389,998 97.76 Other Net Assets 3,234,469 2.24 Net Assets 144,624,467 100.00 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. 231 MANULIFE GLOBAL FUND

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 2016 TO 30 JUNE 2017* U.S. Bond Fund Class AA +1.92% U.S. Bond Fund Class AA (HKD) +1.89% U.S. Bond Fund Class AA (HKD) Inc +1.90% U.S. Bond Fund Class AA Inc +1.91% U.S. Bond Fund Class I +2.12% U.S. Bond Fund Class I3 +3.25% Barclays Capital U.S. Aggregate Bond Index -0.31% PORTFOLIO REVIEW The sub-fund s performance for the period was driven primarily by sector allocation. A non-benchmark position in high-yield corporate bonds and an overweight position in investment-grade corporate securities aided performance. Underweight positions in residential mortgage-backed securities and US Treasury bonds, both of which declined for the period, also added value. Individual security selection also contributed meaningfully to relative performance. Leading contributors among the sub-fund s corporate bond holdings included an electric utility, a chemicals producer, and a calcine petroleum coke producer. Notable detractors included a technology products distributor, a cosmetics maker, and an energy producer. The sub-fund s duration (a measure of interest-rate sensitivity) was slightly shorter than that of the benchmark throughout the period, which meant that the sub-fund had less sensitivity to yield fluctuations than the benchmark did. This positioning helped overall performance as bond yields rose and bond prices declined. MARKET REVIEW The US bond market produced mixed results for the 12 months ended 30 June 2017, but declined slightly overall as bond yields rose across the board. The bulk of the bond market decline occurred in late 2016, when bond yields increased sharply in response to the surprising outcome of the US presidential election. Expectations that the new administration s fiscal policies would result in stronger economic growth and higher inflation pushed bond yields broadly higher. However, yields fell back somewhat in the first half of 2017 amid a lack of progress on the administration s pro-growth policy agenda. US economic growth slowed during the period. After growing at a 3.5% annual rate in the third quarter of 2016 (the fastest quarterly growth rate in more than two years), the US economy decelerated to a 2.1% annual growth rate in the fourth quarter of 2016 and 1.4% in the first quarter of 2017. Employment growth remained robust, but the unemployment rate dipped from 4.9% to 4.3% (its lowest level in a decade) and other segments of the economy showed signs of slowing. For example, manufacturing activity remained muted and consumer spending waned amid a decline in vehicle sales. On the inflation front, the year-over-year inflation rate (as measured by the consumer price index, or CPI) rose to a five-year high of 2.8% in early 2017, reflecting a rebound in energy prices, but trended back down to 1.9% as of 31 May 2017 (the most recent data available). Core CPI, which excludes food and energy prices, rose by 1.7% over the same one-year period. Despite weaker economic data and a lack of inflationary pressure, the Fed raised its short-term interest rate target three times during the period. All three rate hikes were well telegraphed by the Fed and lifted the federal funds rate target to a range of 1.00% to 1.25%. Late in the reporting period, the Fed also released a plan for unwinding its balance sheet of US Treasury and mortgage-backed securities, though the timing of the balance sheet reduction remains unclear. * 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 232

U.S. BOND FUND From a sector perspective, corporate bonds generated the best returns for the period, benefiting from improving corporate earnings and strong demand for yield in a low interest rate environment. Notably, high-yield corporate bonds posted double-digit returns for the period. On the downside, US Treasury bonds declined the most, reflecting the broad increase in bond yields. OUTLOOK After eight years of moderate but steady expansion and four Fed rate hikes in the past 18 months, the recent slowing in the US economy is not surprising at this stage of the economic cycle. With no policy initiatives apparently forthcoming from the federal government to stimulate economic activity, the Fed is facing the challenge of continuing to normalise interest rates in an environment of modest economic growth and low inflation. The sub-fund s portfolio manager intends to maintain the sub-fund s current positioning, with an emphasis on the credit-related sectors of the bond market. Healthy earnings and global demand for yield should continue to provide support for corporate bonds going forward. 233 MANULIFE GLOBAL FUND

U.S. SMALL CAP EQUITY FUND Portfolio of Investments as at 30 June 2017 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 Israel 7,196 Nice Systems Limited ADR 340,718 567,189 1.65 340,718 567,189 1.65 United Kingdom 13,212 Luxfer Holdings plc ADR 213,638 161,451 0.47 213,638 161,451 0.47 United States 10,645 ABM Industries Inc. 365,168 443,577 1.30 9,724 Access National Corp. 207,246 258,561 0.76 12,739 American Assets Trust Inc. 515,112 507,649 1.48 2,594 American Woodmark Corp. 185,406 245,133 0.72 29,141 AVX Corp. 412,561 474,415 1.39 10,770 Banner Corp. 443,502 610,551 1.78 18,117 Barracuda Networks 409,958 407,995 1.19 4,277 Bio-Rad Laboratories Inc. A 622,404 962,410 2.81 32,267 Brookline Bancorp Inc. 360,520 471,098 1.38 26,721 Build-A-Bear Workshop Inc. 377,067 284,579 0.83 11,841 Cadence Design Systems Inc. 203,583 396,200 1.16 16,716 Central Garden & Pet Company 339,453 508,835 1.48 6,702 Chuy s Holdings Inc. 153,126 157,162 0.46 14,606 Cinemark Holdings Inc. 491,605 558,972 1.63 14,663 Columbia Banking System Inc. 517,450 587,840 1.72 26,251 Connectone Bancorp Inc. 666,306 594,585 1.74 2,726 Cooper Companies Inc. 393,401 649,879 1.90 13,365 Copart Inc. 278,090 425,675 1.25 12,901 Del Frisco s Restaurant Group Inc. 204,247 208,351 0.61 6,620 Deluxe Corp. 415,795 460,355 1.34 8,360 Emcor Group Inc. 448,694 548,416 1.60 12,410 Emergent Biosolutions Inc. 341,598 413,129 1.21 8,743 Epr Properties 514,637 635,267 1.86 3,570 Esterline Technologies Corp. 283,634 337,187 0.99 3,804 Evercore Partners Inc. 191,191 268,943 0.79 13,965 Finisar Corp. 351,164 368,955 1.08 18,028 Five9 Inc. 157,846 384,177 1.12 10,224 Globus Medical Inc. A 227,268 341,686 1.00 24,199 Golub Capital Bdc Inc. 430,144 464,379 1.36 7,712 Hain Celestial Group Inc. 269,920 299,843 0.88 14,869 Halozyme Therapeutics Inc. 176,102 192,851 0.56 8,705 Hb Fuller Company 374,290 448,220 1.31 34,370 Hope Bancorp Inc. 530,368 645,125 1.89 6,763 Integer Holdings Corp. 210,863 294,191 0.86 6,325 Integra Lifesciences Holdings Corp. 233,256 343,384 1.00 13,859 Integrated Device Technology Inc. 327,543 360,057 1.05 36,827 Interface Inc. 691,358 727,333 2.13 4,431 Lithia Motors Inc. 396,531 410,532 1.20 MANULIFE GLOBAL FUND 234

U.S. SMALL CAP EQUITY FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 3,903 Logmein Inc. 222,791 409,034 1.20 15,936 Malibu Boats Inc. A 227,158 414,495 1.21 11,104 Merit Medical Systems Inc. 230,984 414,179 1.21 21,875 Mimedx Group Inc. 195,799 326,156 0.95 5,315 Mks Instruments Inc. 221,006 359,560 1.05 9,813 Moelis & Company A 290,057 380,254 1.11 10,369 Monotype Imaging Holdings Inc. 260,077 189,234 0.55 40,095 Mueller Water Products Inc. A 447,865 475,527 1.39 4,247 NVE Corp. 269,461 324,513 0.95 29,398 On Semiconductor Corp. 282,693 411,866 1.21 44,065 Park Sterling Corp. 368,754 523,933 1.53 30,776 Patterson-Uti Energy Inc. 616,589 619,521 1.81 6,238 Pennantpark 74,270 88,268 0.26 8,488 Portland General Electric Company 320,277 389,769 1.14 5,870 Regal-Beloit Corp. 381,221 473,709 1.38 25,114 Retail Opportunity Investments Company 450,218 488,718 1.43 39,005 Seaspine Holdings Corp. 276,122 439,586 1.29 11,935 Simpson Manufacturing Company Inc. 475,210 521,679 1.53 15,884 Smart Sand Inc. 252,500 141,209 0.41 14,937 Ss&c Technologies Holdings Inc. 320,000 572,684 1.67 9,559 Tenneco Inc. 481,217 549,834 1.61 12,483 Timken Company 429,458 575,466 1.68 6,640 Treehouse Foods Inc. 466,172 545,143 1.59 4,760 Tupperware Brands Corp. 272,716 333,914 0.98 3,715 Unifirst Corp. 418,330 526,230 1.54 7,313 United Natural Foods Inc. 304,981 264,219 0.77 25,031 Univest Corp. of Pennsylvania 595,949 753,432 2.21 17,915 Urban Edge Properties 395,576 430,677 1.26 3,693 Vail Resorts Inc. 383,533 746,872 2.19 19,923 Valvoline Inc. 449,933 472,773 1.38 9,978 Verint Systems Inc. 489,291 402,612 1.18 3,145 Watsco Inc. 335,990 483,575 1.41 5,447 Williams-Sonoma Inc. 292,797 261,565 0.76 18,972 Workiva Inc. 294,546 361,417 1.06 25,511,948 31,369,120 91.72 Virgin Islands (British) 69,110 Amira Nature Foods Limited 460,015 377,341 1.10 460,015 377,341 1.10 Equities Total 26,526,319 32,475,101 94.94 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 26,526,319 32,475,101 94.94 235 MANULIFE GLOBAL FUND

U.S. SMALL CAP EQUITY FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Other transferable securities and money market instruments (2) Equities United States 57,853 Osiris Therapeutics Inc. 268,445 358,689 1.05 268,445 358,689 1.05 Equities Total 268,445 358,689 1.05 Total Other transferable securities and money market instruments (2) 268,445 358,689 1.05 Portfolio of Investments 26,794,764 32,833,790 95.99 Other Net Assets 1,371,164 4.01 Net Assets 34,204,954 100.00 (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. MANULIFE GLOBAL FUND 236

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 2016 TO 30 JUNE 2017* U.S. Small Cap Equity Fund Class AA +27.98% Russell 2000 Index +24.60% PORTFOLIO REVIEW The sub-fund s stock selection contributed to performance over the period. Individual contributors included a designer and manufacturer of single-use medical products for cardiovascular and endoscopy procedures; a manufacturer of recreational boats that has executed well on its plans; and a company that processes regenerative materials for wound care and other medical applications. The company has been performing very well recently and the cloud created by a whistle-blower lawsuit has diminished. The sub-fund s cash position detracted from performance over the period. Individual detractors included a producer of low-priced bathroom tissues that reported disappointing sales and pricing; a seller of software for connected devices that recently announced a large earnings miss and senior management departures; and a real estate investment trust (REIT) whose holdings include shopping centres, which are currently out of favour as internet sales increase. The sub-fund s portfolio manager (PM) added numerous new positions during the year, taking a bottomup approach, with individual stocks competing for capital in the portfolio. The PM also eliminated numerous positions during the year. Most stocks were sold because they appreciated and reached their fair value. MARKET REVIEW The period was eventful for financial markets. The Fed raised short-term interest rates three times during the year, marking the first changes to short-term rates since the financial crisis. The 10-year Treasury yield, which was at a record-low level 12 months ago, increased in line with the change in short-term yields. Donald Trump was elected as US president and the equity market favoured cyclical stocks during the fourth quarter of 2016. However, market leadership reversed as his economic agenda was delayed. Oil prices declined, and energy was the only sector in the benchmark that declined. OUTLOOK The PM has positioned the sub-fund for modest, continued economic expansion. The PM does not foresee a recession in the near term, and will continue to watch indicators with caution. * 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. 237 MANULIFE GLOBAL FUND

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2017 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 Bermuda 250,000 Aircastle Limited 5.125% 15/Mar/2021 252,438 268,359 0.39 252,438 268,359 0.39 Canada 400,000 First Quantum Minerals Limited 7.250% 416,800 410,390 0.60 15/May/2022 400,000 Teck Resources Limited 6.250% 15/Jul/2041 301,000 416,862 0.61 717,800 827,252 1.21 Cayman Islands 530,000 Vale Overseas Limited 5.875% 10/Jun/2021 554,600 571,502 0.83 554,600 571,502 0.83 France 285,000 Credit Agricole FRN 23/Mar/2066 286,527 313,883 0.46 175,000 Credit Agricole FRN 29/Dec/2049 177,363 203,763 0.30 475,000 SFR Group SA 6.250% 15/May/2024 470,500 503,673 0.73 934,390 1,021,319 1.49 Luxembourg 400,000 Altice Financing SA 7.500% 15/May/2026 419,500 445,052 0.65 250,000 Arcelormittal 7.250% 25/Feb/2022 237,500 281,634 0.41 820,000 Intelsat Jackson Holdings SA 5.500% 511,675 681,625 0.98 1/Aug/2023 505,000 Wind Acquisition 7.375% 23/Apr/2021 508,281 525,897 0.77 1,676,956 1,934,208 2.81 Marshall Islands 415,000 Teekay Offshore Partners LP 6.000% 415,000 331,481 0.48 30/Jul/2019 415,000 331,481 0.48 Netherlands 735,000 ING Groep NV FRN 31/Dec/2049 733,138 773,668 1.13 300,000 Myriad International Holdings 5.500% 285,750 320,645 0.47 21/Jul/2025 1,018,888 1,094,313 1.60 United Kingdom 580,000 Lloyds Banking Group plc FRN 30/Apr/2049 612,007 638,684 0.93 612,007 638,684 0.93 MANULIFE GLOBAL FUND 238

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States 140,000 Advanced Micro Devices Inc. 7.000% 149,625 148,205 0.22 1/Jul/2024 580,000 Aecom 5.875% 15/Oct/2024 605,627 631,197 0.92 435,000 AMC Entertainment Inc. 5.750% 15/Jun/2025 446,963 452,100 0.66 120,000 Amc Networks Inc. 5.000% 1/Apr/2024 120,000 123,216 0.18 400,000 American Express Company FRN 400,000 408,142 0.59 29/Dec/2049 275,000 Amerigas Partners LP 5.625% 20/May/2024 279,192 285,014 0.42 275,000 Amerigas Partners LP 5.750% 20/May/2027 275,000 280,290 0.41 320,000 AmeriGas Partners LP 5.500% 20/May/2025 320,000 324,340 0.47 280,000 Antero Resources Corp. 5.125% 1/Dec/2022 267,080 279,695 0.41 145,000 Ashland Inc. 6.875% 15/May/2043 153,253 157,869 0.23 275,000 Ball Corp. 4.375% 15/Dec/2020 275,000 289,906 0.42 445,000 Ball Corp. 5.000% 15/Mar/2022 451,872 477,281 0.70 500,000 Cablevision Systems 5.875% 15/Sep/2022 504,861 519,430 0.75 150,000 Cablevision Systems Corp. 7.750% 156,000 155,891 0.23 15/Apr/2018 380,000 Cablevision Systems Corp. 8.000% 371,450 424,344 0.62 15/Apr/2020 410,000 Centene Corp. 6.125% 15/Feb/2024 431,525 443,300 0.65 610,000 Centurylink Inc. 7.500% 1/Apr/2024 616,393 670,841 0.98 260,000 Chemours Company 6.625% 15/May/2023 246,421 275,400 0.40 265,000 Chemtura Corp. 5.750% 15/Jul/2021 272,950 273,944 0.40 280,000 Citigroup Inc. FRN 29/Dec/2049 287,350 293,968 0.43 225,000 Citigroup Inc. FRN 29/Dec/2049 228,467 241,232 0.35 645,000 Citigroup Inc. FRN 15/Nov/2049 681,375 694,065 1.01 500,000 Community Health Systems (CHS) 5.125% 468,931 507,678 0.74 1/Aug/2021 170,000 Community Health Systems (CHS) 6.250% 170,000 176,205 0.26 31/Mar/2023 650,000 Community Health Systems (CHS) 6.875% 680,188 568,750 0.83 1/Feb/2022 300,000 Community Health Systems Inc. 8.000% 296,061 302,555 0.44 15/Nov/2019 300,000 Cooper Tire & Rubber Company 7.625% 310,500 336,137 0.49 15/Mar/2027 380,000 Davita Healthcare Partners Inc. 5.000% 368,600 380,676 0.55 1/May/2025 690,000 Davita Healthcare Partners Inc. 5.125% 693,999 703,503 1.03 15/Jul/2024 605,000 Denbury Resources Inc. 4.625% 15/Jul/2023 442,088 323,675 0.47 200,000 Dynegy Inc. 5.875% 1/Jun/2023 188,000 189,806 0.28 385,000 Enova International Inc. 9.750% 1/Jun/2021 388,584 400,881 0.58 200,000 Freeport-McMoran Inc. 5.450% 15/Mar/2043 148,963 172,932 0.25 350,000 Frontier Communications Corp. 6.250% 339,750 312,844 0.46 15/Sep/2021 545,000 Frontier Communications Corp. 11.000% 563,248 505,332 0.74 15/Sep/2025 350,000 Goldman Sachs Group Inc. FRN 29/Dec/2049 349,563 367,021 0.53 239 MANULIFE GLOBAL FUND

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 245,000 Graphic Packaging Holding Company 4.875% 245,590 260,185 0.38 15/Nov/2022 195,000 HCA Inc. 5.250% 15/Jun/2026 202,313 211,138 0.31 115,000 HCA Inc. 5.375% 1/Feb/2025 115,000 121,416 0.18 405,000 HCA Inc. 5.375% 1/Feb/2025 413,612 427,597 0.62 150,000 HCA Inc. 7.500% 15/Feb/2022 171,000 172,658 0.25 420,000 Healthsouth Corp 5.750% 1/Nov/2024 422,100 432,716 0.63 680,000 Healthsouth Corp. 5.125% 15/Mar/2023 694,499 702,100 1.02 350,000 Ingram Micro Inc. 5.450% 15/Dec/2024 348,250 360,507 0.53 550,000 Iron Mountain Inc. 6.000% 15/Aug/2023 564,438 585,368 0.85 255,000 JPMorgan Chase & Company FRN 258,825 267,077 0.39 29/Dec/2049 665,000 JPMorgan Chase & Company FRN 722,361 756,437 1.11 29/Aug/2049 195,000 Laredo Petroleum Inc. 6.250% 15/Mar/2023 196,463 192,297 0.28 660,000 Lear Corp. 5.250% 15/Jan/2025 659,375 704,282 1.02 400,000 Leucadia National Corp. 5.500% 18/Oct/2023 413,800 428,758 0.62 840,000 Lifepoint Health Inc. 5.875% 1/Dec/2023 846,650 883,088 1.29 770,000 Mgic Investment Corp. 5.750% 15/Aug/2023 807,163 831,612 1.21 520,000 Morgan Stanley FRN 29/Dec/2049 524,875 547,521 0.80 230,000 Murphy Oil Corp. 6.875% 15/Aug/2024 238,725 240,605 0.35 300,000 Nationstar Mortgage LLC 6.500% 1/Jun/2022 288,705 306,750 0.45 565,000 Nationstar Mortgage LLC 7.875% 1/Oct/2020 573,034 586,187 0.86 325,000 NCR Corp. 5.875% 15/Dec/2021 338,813 339,339 0.49 440,000 NCR Corp. 6.375% 15/Dec/2023 468,700 472,978 0.69 500,000 Newfield Exploration Company 5.750% 519,838 525,880 0.77 30/Jan/2022 770,000 NRG Energy Inc. 6.250% 15/Jul/2022 752,866 792,511 1.15 150,000 NRG Energy Inc. 6.625% 15/Jan/2027 150,000 150,518 0.22 835,000 NRG Yield Operating LLC 5.375% 809,702 880,925 1.28 15/Aug/2024 785,000 Oasis Petroleum Inc. 6.875% 15/Mar/2022 754,301 762,408 1.11 300,000 Outfront Media Cap LLC 5.625% 15/Feb/2024 302,875 314,523 0.46 375,000 Outfront Media Cap LLC 5.875% 387,688 394,622 0.58 15/Mar/2025 440,000 Pvh Corp. 4.500% 15/Dec/2022 440,513 453,209 0.66 180,000 Radian Group Inc. 7.000% 15/Mar/2021 180,000 202,050 0.29 255,000 Resolute Energy Corp. 8.500% 1/May/2020 253,944 253,689 0.37 380,000 Revlon Consumer Products Corp. 6.250% 329,513 332,287 0.48 1/Aug/2024 425,000 Reynolds Group Issuer Inc. 5.750% 437,643 435,019 0.63 15/Oct/2020 160,000 Rice Energy Inc. 7.250% 1/May/2023 144,223 173,200 0.25 500,000 Sabine Pass Liquefaction LLC 5.625% 536,875 551,993 0.80 1/Mar/2025 292,000 Sanchez Energy Corp. 6.125% 15/Jan/2023 151,524 232,352 0.34 500,000 Select Medical Corp. 6.375% 1/Jun/2021 499,352 515,710 0.75 320,000 Sirius Xm Radio Inc. 6.000% 15/Jul/2024 343,600 342,400 0.49 695,000 SM Energy Company 5.625% 1/Jun/2025 664,080 628,975 0.92 165,000 SM Energy Company 6.750% 15/Sep/2026 165,000 156,492 0.23 MANULIFE GLOBAL FUND 240

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 405,000 Spectrum Brands Inc. 5.750% 15/Jul/2025 430,818 434,413 0.64 110,000 Springleaf Finance C 6.125% 15/May/2022 110,000 116,525 0.17 285,000 Sprint Communications Inc. 6.000% 274,871 302,436 0.44 15/Nov/2022 200,000 Sprint Communications Inc. 11.500% 209,500 256,148 0.37 15/Nov/2021 400,000 Sprint Corp. 7.125% 15/Jun/2024 378,000 446,148 0.65 385,000 Sprint Corp. 7.875% 15/Sep/2023 331,975 443,256 0.65 425,000 Sprint Nextel Corp. 7.000% 15/Aug/2020 436,524 465,772 0.68 400,000 Summit Midstream Holdings LLC 5.500% 396,000 402,000 0.59 15/Aug/2022 300,000 Summit Midstream Holdings LLC 5.750% 300,000 303,173 0.44 15/Apr/2025 595,000 Tempur Sealy International Inc. 5.500% 600,950 606,147 0.89 15/Jun/2026 125,000 Tenet Healthcare Corp. 4.375% 1/Oct/2021 118,212 127,087 0.19 495,000 Tesoro Corp. 5.125% 1/Apr/2024 502,000 525,492 0.77 270,000 Tesoro Logistics LP 5.250% 15/Jan/2025 270,000 284,832 0.42 265,000 Tesoro Logistics LP 6.250% 15/Oct/2022 286,531 282,820 0.41 440,000 Tesoro Logistics LP 6.375% 1/May/2024 466,725 477,554 0.70 160,000 T-Mobile USA Inc. 6.500% 15/Jan/2026 169,838 176,788 0.26 315,000 T-Mobile USA Inc. 6.625% 1/Apr/2023 333,763 334,062 0.49 315,000 Tronox Finance LLC 6.375% 15/Aug/2020 251,735 315,745 0.46 375,000 United Rentals North America Inc. 5.500% 375,000 394,369 0.58 15/Jul/2025 230,000 United Rentals North America Inc. 6.125% 230,000 240,624 0.35 15/Jun/2023 290,000 Uniti Group Inc. 8.250% 15/Oct/2023 281,460 299,309 0.43 725,000 Wells Fargo & Company FRN 29/Dec/2049 777,899 804,076 1.16 490,000 Whiting Petroleum Corp. 5.750% 445,530 460,595 0.67 15/Mar/2021 315,000 Whiting Petroleum Corp. 6.250% 1/Apr/2023 304,472 291,473 0.42 170,000 Williams Companys Inc. 4.550% 24/Jun/2024 172,763 175,141 0.26 930,000 Williams Partners LP 4.875% 15/Mar/2024 933,580 975,886 1.41 710,000 WPX Energy Inc. 5.250% 15/Sep/2024 645,787 679,825 0.99 40,320,640 41,648,740 60.70 Bonds Total 46,502,719 48,335,858 70.44 Bonds convertibles United States 288 Wells Fargo & Company 7.500% 31/Dec/2049 362,466 376,128 0.55 362,466 376,128 0.55 Bonds convertibles Total 362,466 376,128 0.55 241 MANULIFE GLOBAL FUND

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Ireland Equities 236 Allergan plc 1/Mar/2018 175,859 205,011 0.30 175,859 205,011 0.30 United States 6,500 Dominion Resources Inc. 15/Aug/2019 335,942 328,055 0.48 3,675 DTE Energy Company 1/Oct/2019 183,750 200,655 0.29 3,708 Energy XXI Gulf Coast Inc. 185,763 68,320 0.10 32,040 GMAC Capital Trust I 15/Feb/2040 829,383 834,001 1.21 6,445 Halcon Resources Corp. 207,880 28,422 0.04 3,655 Nextera Energy Inc. 1/Sep/2019 178,638 196,091 0.29 970 Resolute Forest Products Inc 0 4,171 0.01 2,040 Stanley Black Conv Prefered 15/May/2020 204,000 219,953 0.32 2,125,356 1,879,668 2.74 Equities Total 2,301,215 2,084,679 3.04 Warrants Equity United States 1,750 Halcon Resources Corp. Wts 9/Sep/2020 Str.14.04 0 1,505 0.00 0 1,505 0.00 Warrants Equity Total 0 1,505 0.00 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 49,166,400 50,798,170 74.03 Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities Bonds Canada 500,000 Nova Chemicals Corp. 5.250% 1/Aug/2023 503,750 515,000 0.75 503,750 515,000 0.75 Luxembourg 77,000 Intelsat Jackson Holding 8.000% 15/Feb/2024 84,013 82,968 0.12 84,013 82,968 0.12 United States 300,000 Aecom 5.125% 15/Mar/2027 300,000 302,250 0.44 385,000 CCO Holdings LCC 5.125% 1/May/2027 386,925 394,906 0.58 750,000 CCO Holdings LLC 5.125% 15/Feb/2023 743,187 773,959 1.14 320,000 Cheniere Corp. 5.875% 31/Mar/2025 320,000 341,550 0.50 255,000 Chesapeake Energy Corp. 8.000% 255,388 249,363 0.36 15/Jun/2027 450,000 Clear Channel Worldwide Holdings Inc. 474,188 462,924 0.67 6.500% 15/Nov/2022 720,000 Csi Compressco 7.250% 15/Aug/2022 692,864 666,000 0.97 MANULIFE GLOBAL FUND 242

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets United States (continued) 250,000 Dish Dbs Corp. 7.875% 1/Sep/2019 271,370 275,224 0.40 330,000 DISH DBS Corp. 7.750% 1/Jul/2026 360,113 392,109 0.57 660,000 Eldorado Resorts Inc. 7.000% 1/Aug/2023 683,252 715,274 1.03 415,000 Freeport-Mcmoran Inc. 6.875% 15/Feb/2023 368,606 439,900 0.64 515,000 Gci Inc. 6.875% 15/Apr/2025 521,189 560,063 0.82 235,000 Hilton Grand Vacations Borrower LLC 6.125% 235,000 257,031 0.37 1/Dec/2024 250,000 Iheartcommunication 10.625% 15/Mar/2023 228,265 188,750 0.28 224,000 Micron Technology Inc. 5.500% 1/Feb/2025 208,699 235,666 0.34 125,000 Pbf Holding Company LLC 7.250% 125,000 119,609 0.17 15/Jun/2025 500,000 Platform Specialty Products Corp. 10.375% 517,500 554,374 0.81 1/May/2021 315,000 SBA Communications 4.875% 15/Jul/2022 311,890 325,609 0.47 310,000 Starwood Property Trust Inc. 5.000% 310,000 324,725 0.47 15/Dec/2021 500,000 Windstream Corp. 7.500% 1/Jun/2022 397,500 447,455 0.65 7,710,936 8,026,741 11.68 Bonds Total 8,298,699 8,624,709 12.55 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities 8,298,699 8,624,709 12.55 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 a 29,104 0 0.00 29,104 0 0.00 29,104 0 0.00 Mortgage and Asset Backed Securities Total 29,104 0 0.00 Bonds Canada 440,000 MDC Partners Inc. 6.500% 1/May/2024 443,312 440,000 0.64 500,000 Valeant Pharmaceuticals International P.P. 411,250 429,353 0.63 144A 5.875% 15/May/2023 854,562 869,353 1.27 243 MANULIFE GLOBAL FUND

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Luxembourg 130,000 Fage International 5.625% 15/Aug/2026 130,000 133,413 0.19 550,000 Mallinckrodt International Finance 5.500% 484,000 484,000 0.71 15/Apr/2025 614,000 617,413 0.90 United Kingdom 470,000 International Game Tech P.P. 144A 6.500% 454,291 518,763 0.76 15/Feb/2025 454,291 518,763 0.76 United States 400,000 Cengage Learning Inc. 9.500% 15/Jun/2024 413,000 354,000 0.52 200,000 Huntington Ingalls Industries 5.000% 202,623 215,500 0.31 15/Nov/2025 235,000 Kronos Acquisition Holdings 9.000% 219,670 234,706 0.34 15/Aug/2023 420,000 Mohegan Tribal Gaming Authority 7.875% 416,938 438,375 0.64 15/Oct/2024 400,000 OPE KAG Finance Sub P.P. 144A 7.875% 400,000 420,500 0.62 31/Jul/2023 260,000 Permian Resources LLC 7.125% 1/Nov/2020 260,000 214,500 0.31 180,000 Platform Specialty Products 10.375% 180,000 199,575 0.29 1/May/2021 270,000 Radiate Holdco LLC 6.625% 15/Feb/2025 269,082 272,700 0.40 1,440,000 Stone Company 0.000% 31/Dec/2049 a 0 900 0.00 150,000 Uniti Group 7.125% 15/Dec/2024 150,000 148,500 0.22 350,000 Wmg Acquisition Corp. 6.750% 15/Apr/2022 369,894 368,375 0.54 480,000 Zf North America Capital Inc. P.P. 144A 475,296 506,179 0.74 4.750% 29/Apr/2025 3,356,503 3,373,810 4.93 Bonds Total 5,279,356 5,379,339 7.86 Bonds convertibles United States 125,000 Liberty Expedia 5.157% 30/Jun/2047 125,000 132,835 0.19 125,000 132,835 0.19 Bonds convertibles Total 125,000 132,835 0.19 MANULIFE GLOBAL FUND 244

U.S. SPECIAL OPPORTUNITIES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Equities United States 7,769 Muzak Holdings Escrow 0 0 0.00 4,462 Vertis Holdings Inc. a 461,111 0 0.00 461,111 0 0.00 Equities Total 461,111 0 0.00 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) 6,063,673 5,512,174 8.05 Portfolio of Investments 63,528,772 64,935,053 94.63 Other Net Assets 3,685,760 5.37 Net Assets 68,620,813 100.00 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. 245 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 2016 TO 30 JUNE 2017* U.S. Special Opportunities Fund Class AA +10.42% U.S. Special Opportunities Fund Class AA Inc +10.43% U.S. Special Opportunities Fund Class T +10.27% BofA Merrill US High Yield Master II Index +12.75% PERFORMANCE FROM 1 JULY 2016 TO 15 DECEMBER 2016 U.S. Special Opportunities Fund Class I +5.66% PERFORMANCE FROM 25 JANUARY 2017 TO 4 MAY 2017 U.S. Special Opportunities Fund Class I3 +3.18% PORTFOLIO REVIEW Security selection in most sectors especially consumer cyclicals, consumer non-cyclicals, and finance companies contributed to the sub-fund s performance. Individual contributors included a semiconductor producer on optimism toward the firm s improved trajectory, an online financial services company on its solid operating results, and a communications satellite services provider on favourable sentiment. Security selection in the energy sector and among transportation and capital goods companies detracted from performance. Individual detractors included two oil and natural gas companies on their mixed outlooks, and a cosmetics company on pressures in the retail industry. MARKET REVIEW The period began with high-yield bonds and loans providing solid gains against a backdrop of diminished global macroeconomic concerns and accommodative central bank policies. Continued recovery in the commodities sectors remained a key theme for high-yield markets since bottoming in early 2016. Furthermore, expectations for a lower-for-longer interest rate environment contributed to investor demand for higher-risk/higher-yield market sectors. Volatility increased at the end of 2016 as investors digested fluctuating oil prices and the likelihood of the Organization of the Petroleum Exporting Countries (OPEC) agreeing on supply cuts. The results of the US elections in November, the potential impact of a new administration, and expectations for Fed action in 2017 also contributed to volatility. Despite negative performance in November, which was accompanied by the biggest increase in treasury rates since 2013, high-yield markets performed well over the first half of the period. They continued to perform well in 2017 as optimism surrounding the new US administration; solid economic data and earnings reports; and stabilising US Treasury yields provided a supportive backdrop for risk assets. All industry sectors performed strongly. In recent months, the market dynamics surrounding the price of crude oil has put pressure on the energy sector, and concerns about the impact of e-commerce on consumer behaviour has negatively affected the retail industry. Despite these pockets of concern, highyield markets rose as default expectations have diminished and the global search for yield continues to bring investor interest to the asset class. * 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 246

U.S. SPECIAL OPPORTUNITIES FUND OUTLOOK The sub-fund s portfolio manager (PM) believes corporate fundamentals remain solid across a variety of sectors. Initial optimism surrounding the US administration s agenda which included tax cuts, increased fiscal spending, and other pro-business policies has begun to wane as the timing and magnitude of policy implementation remains uncertain. The difficulties of putting these measures in place highlights the level of uncertainty surrounding policy implementation, as was demonstrated by the lack of resolution on a repeal and replacement for the Affordable Care Act. Given an upward bias for interest rates in the US, the PM remains diligent in managing portfolio duration (interest-rate sensitivity). The PM believes the flexibility to allocate across the broader credit universe, including across capital structures and the quality spectrum, is important when seeking to maximise riskadjusted returns. In an environment of relatively lower yields, protecting against deteriorating credits remains a critical component of portfolio construction and a key feature of the PM s credit selection process. The outlook for high-yield market returns appears favourable from both a fundamental and technical perspective at least relative to other fixed-income sectors with lower income potentials. Default expectations have diminished considerably, as commodity-related sectors have stabilised with improved economics for natural resource extraction. Furthermore, credit market dynamics are supportive of companies wanting to extend their financing needs. Investor sentiment also remains supportive as the global search for yield continues. However, given the stage and length of the credit cycle, the PM believes that security selection and fundamental analysis remain essential to success in the leveraged credit markets. Given the possibility for broader market volatility (as is often caused by central banks policy visibility, major elections, or other event risks), the PM believes there is reason to remain cautious and mindful of investor complacency in the months ahead. 247 MANULIFE GLOBAL FUND

U.S. TREASURY INFLATION-PROTECTED SECURITIES FUND Portfolio of Investments as at 30 June 2017 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 315,000 United States Treasury Inflation Indexed Bonds 0.125% 15/Apr/2021 225,000 United States Treasury Inflation Indexed Bonds 0.126% 15/Jul/2026 135,000 United States Treasury Inflation Indexed Bonds 0.129% 15/Jul/2024 100,000 United States Treasury Inflation Indexed Bonds 0.669% 15/Jul/2021 100,000 United States Treasury Inflation Indexed Bonds 1.000% 15/Feb/2046 235,000 United States Treasury Inflation Indexed Bonds 1.230% 15/Jan/2021 345,000 United States Treasury Inflation Indexed Bonds 1.521% 15/Jan/2020 425,000 United States Treasury Inflation Indexed Bonds 2.368% 15/Jan/2019 140,000 United States Treasury Inflation Indexed Bonds 2.786% 15/Jan/2029 190,000 United States Treasury Inflation Indexed Bonds 2.817% 15/Jan/2027 55,000 United States Treasury Inflation Indexed Bonds 4.645% 15/Apr/2032 110,000 United States Treasury Inflation Indexed Bonds 5.479% 15/Apr/2028 175,000 United States Treasury Inflation Indexed N/B 0.129% 15/Jul/2024 300,000 United States Treasury Inflation Indexed N/B 0.135% 15/Jan/2022 130,000 United States Treasury Inflation Indexed N/B 0.678% 15/Jul/2021 100,000 United States Treasury Inflation Indexed N/B FRN 15/Feb/2041 50,000 United States Treasury Inflation Indexed N/B 2.402% 15/Feb/2040 195,000 United States Treasury Inflation Indexed N/B 2.462% 15/Jan/2026 249,000 United States Treasury Inflation Indexed N/B 3.080% 15/Jan/2025 120,000 United States Treasury Inflation Indexed N/B 5.758% 15/Apr/2029 324,403 325,008 3.90 223,811 217,644 2.61 136,927 136,920 1.64 111,598 111,364 1.34 107,019 103,846 1.25 269,772 273,022 3.27 409,261 404,736 4.85 508,775 500,078 5.99 207,250 192,396 2.31 237,966 269,249 3.23 104,425 104,623 1.25 208,567 217,937 2.61 174,750 177,489 2.13 316,253 324,217 3.89 144,832 144,773 1.74 131,804 140,424 1.68 74,915 70,791 0.85 261,481 269,915 3.24 372,898 368,737 4.42 246,506 243,207 2.92 4,573,213 4,596,376 55.12 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 4,573,213 4,596,376 55.12 Total Transferable securities and money market instruments admitted to an official exchange listing (1) 4,573,213 4,596,376 55.12 MANULIFE GLOBAL FUND 248

U.S. TREASURY INFLATION-PROTECTED SECURITIES FUND Portfolio of Investments as at 30 June 2017 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 Supranationals, Governments and Local Public Authorities, Debt Instruments United States 235,000 United States Treasury Inflation Indexed Bonds 0.623% 15/Jan/2026 200,000 United States Treasury Inflation Indexed Bonds 0.875% 15/Feb/2047 420,000 United States Treasury Inflation Indexed N/B 0.130% 15/Apr/2019 380,000 United States Treasury Inflation Indexed N/B 0.132% 15/Jan/2023 280,000 United States Treasury Inflation Indexed N/B 0.133% 15/Jul/2022 405,000 United States Treasury Inflation Indexed N/B 0.376% 15/Jul/2023 245,000 United States Treasury Inflation Indexed N/B 0.377% 15/Jul/2025 305,000 United States Treasury Inflation Indexed N/B 0.629% 15/Jan/2024 110,000 United States Treasury Inflation Indexed N/B 0.665% 15/Feb/2043 100,000 United States Treasury Inflation Indexed N/B 0.778% 15/Feb/2045 100,000 United States Treasury Inflation Indexed N/B 0.811% 15/Feb/2042 360,000 United States Treasury Inflation Indexed N/B 1.401% 15/Jul/2020 150,000 United States Treasury Inflation Indexed N/B 1.441% 15/Feb/2044 155,000 United States Treasury Inflation Indexed N/B 2.042% 15/Jan/2028 245,529 244,061 2.93 198,893 198,095 2.38 436,963 438,608 5.25 387,577 399,799 4.80 303,827 298,117 3.58 402,074 429,328 5.15 246,030 251,386 3.02 316,795 324,969 3.90 110,376 108,398 1.30 89,884 98,152 1.18 108,566 103,678 1.24 418,870 421,087 5.05 161,878 172,375 2.07 166,875 202,245 2.43 3,594,137 3,690,298 44.28 Supranationals, Governments and Local Public Authorities, Debt Instruments Total 3,594,137 3,690,298 44.28 Total Transferable securities and money market instruments dealt in on another regulated market and recently issued transferable securities 3,594,137 3,690,298 44.28 249 MANULIFE GLOBAL FUND

U.S. TREASURY INFLATION-PROTECTED SECURITIES FUND Portfolio of Investments as at 30 June 2017 Market % Quantity/ Cost Value of Net Par Value Description USD USD Assets Other transferable securities and money market instruments (2) Mortgage and Asset Backed Securities United States 243,769 Indymac Index Mortgage Loan Trust FRN 25/Oct/2036 16,690 9,172 0.11 16,690 9,172 0.11 Mortgage and Asset Backed Securities Total 16,690 9,172 0.11 Total Other transferable securities and money market instruments (2) 16,690 9,172 0.11 Portfolio of Investments 8,184,040 8,295,846 99.51 Other Net Assets 40,825 0.49 Net Assets 8,336,671 100.00 (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. MANULIFE GLOBAL FUND 250

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 2016 TO 30 JUNE 2017* U.S. Treasury Inflation-Protected Securities Fund Class AA -2.22% U.S. Treasury Inflation-Protected Securities Fund Class AA Inc -2.22% U.S. Treasury Inflation-Protected Securities Fund Class l3-0.96% Barclays Capital U.S. Treasury inflation-protected securities Index -0.63% PORTFOLIO REVIEW The sub-fund s duration positioning aided performance. For most of the period, the sub-fund s duration (a measure of interest-rate sensitivity) was slightly shorter than that of the benchmark, which meant that the sub-fund had less sensitivity to yield fluctuations than the benchmark did. As a result, the sub-fund held up better than the benchmark as US Treasury inflation-protected securities (TIPS) yields rose and TIPS prices declined. The sub-fund was also positioned to benefit from a flatter yield curve (a narrower gap between shortand long-term TIPS yields). This positioning added value as short-term TIPS yields rose more than longerterm TIPS yields during the reporting period. The sub-fund s non-tips holdings detracted from performance. The sub-fund held a small position in residential mortgage-backed securities, and these holdings underperformed the TIPS market during the 12-month period. MARKET REVIEW US Treasury inflation-protected securities (TIPS) declined for the 12 months ended 30 June 2017, as slowing economic growth and decelerating inflation led to reduced demand for inflation protection. After growing at a 3.5% annual rate in the third quarter of 2016 (the fastest quarterly growth rate in more than two years), the US economy decelerated to a 2.1% annual growth rate in the fourth quarter of 2016 and 1.4% in the first quarter of 2017. Although employment growth remained robust the unemployment rate dipped from 4.9% to 4.3%, its lowest level in a decade other segments of the economy showed signs of slowing. For example, manufacturing activity remained muted, and consumer spending waned amid a decline in vehicle sales. On the inflation front, the year-over-year inflation rate (as measured by the consumer price index, or CPI) rose from 1.0% at the beginning of the reporting period to a five-year high of 2.8% in early 2017, reflecting a rebound in energy prices. However, the year-over-year inflation rate trended back down to 1.9% as of 31 May 2017 (the most recent data available). Core CPI, which excludes food and energy prices, rose by 1.7% over the same one-year period. Despite weaker economic data and a lack of inflationary pressure, the Fed raised its short-term interest rate target three times during the period. All three rate hikes were well telegraphed by the Fed and lifted the federal funds rate target to a range of 1.00% to 1.25%. Late in the reporting period, the Fed also released a plan for unwinding its balance sheet of US Treasury and mortgage-backed securities, though the timing of the balance sheet reduction remains unclear. In this environment, TIPS yields moved higher across the board. Shorter-term TIPS yields rose the most, reflecting the three Fed rate hikes the two-year TIPS yield increased from -0.72% to 0.10%, while the five-year TIPS yield rose from -0.40% to 0.19%. Longer-term TIPS yields increased to a lesser extent, with the 10-year TIPS yield rising from 0.05% to 0.53% and the 30-year TIPS yield increasing from 0.69% to 0.96%. The 10-year breakeven inflation rate, which reflects the market s inflation expectations for the next 10 years, widened from 1.42% to 1.75% during 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. 251 MANULIFE GLOBAL FUND

U.S. TREASURY INFLATION-PROTECTED SECURITIES FUND OUTLOOK The sub-fund s portfolio manager (PM) expects the Fed to raise short-term interest rates once more before the end of 2017. The PM also expects the Fed to start reducing its balance sheet during the latter half of the year. On the economic front, the PM believes the US economy will continue to grow at a moderate pace while inflation pressures remain largely contained. The recent weakness in the TIPS market has made valuations more attractive compared with nominal US Treasury securities. All TIPS yields are now in positive territory, and the breakeven inflation rate is lower than the current inflation rate. The sub-fund has a slightly shorter duration than the benchmark and is positioned to benefit from continued flattening in the TIPS yield curve. MANULIFE GLOBAL FUND 252

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 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 10 May 2016 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 2017, the Company is comprised of 27 sub-funds: American Growth Fund ASEAN Equity 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 Equity Fund Global Property Fund Global Resources Fund Greater China Opportunities Fund Healthcare Fund India Equity 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. 253 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 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 period 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 period in which they occur. MANULIFE GLOBAL FUND 254

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 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 2017 are: 1 USD = 16.585123 ARS 1 USD = 18.018343 MXN 1.300728 AUD 4.292656 MYR 3.309746 BRL 8.387503 NOK 1.296200 CAD 1.365095 NZD 0.956450 CHF 3.246500 PEN 664.451827 CLP 50.459179 PHP 6.783708 CNH 3.698006 PLN 22.892725 CZK 3.988799 RON 6.508891 DKK 59.255748 RUB 0.875312 EUR 8.428505 SEK 0.770743 GBP 1.376449 SGD 7.806279 HKD 33.969699 THB 270.488855 HUF 3.519751 TRY 13,328.002132 IDR 30.420102 TWD 64.637063 INR 22,727.272727 VND 112.140058 JPY 13.109424 ZAR 1,144.151669 KRW 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 Net Assets under the headings Unrealised appreciation on forward foreign exchange contracts and Unrealised 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. 255 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 2 Accounting policies (continued) 2.7 Options 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 call 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. 2.8 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 and the gains and losses of the respective subsidiaries. 2.9 Formation expenses Formation expenses are amortized over five years commencing from the inception date of the relevant share classes of the relevant sub-funds. 2.10 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. MANULIFE GLOBAL FUND 256

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 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 A Class AA Class AA Class AA (HKD) (HKD) Inc Class AA Inc Class HA Class HC Class HI Class I Class I2 Class I3 Class J Class S 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 ASEAN Equity Fund N/A 1.75% N/A N/A N/A N/A N/A N/A 1.00% 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 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% 1.75% 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 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 1.50% N/A N/A Global Equity Fund 1.50% 1.75% N/A N/A N/A N/A N/A N/A N/A 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 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 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 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 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 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 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 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% N/A N/A N/A 2.00% 2.30% 1.60% 1.10% 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% * 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% * 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 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 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 * Separately agreed with the relevant Manulife entity 257 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 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 (CAD), 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 (CAD), 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 (CAD), 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 (CAD), 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 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 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 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 * Starting 17 June 2014 only applicable to China Value Fund, Emerging Eastern Europe Fund, Latin America Equity Fund, Russia Equity Fund and Turkey Equity Fund. MANULIFE GLOBAL FUND 258

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 3 Expenses (continued) 3.2 Performance Fee (continued) 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. 3.3 Administration and Depositary fees From 1 July 2016 to 30 June 2017, Citibank Europe plc, Luxembourg Branch received fees as Administrator and Depositary 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. Depositary 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 Depositary or by other banks and financial institutions to which safekeeping of assets of the Company is entrusted are additional to the Depositary s fee and will be borne by the Company. The Depositary 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 (CAD), 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. 259 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 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 Depositary) 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 AA (CAD), 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, Class I3, Class J, Class S, Class S Hedged, 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-17 USD For the year ended 30-Jun-16 USD Manulife Asset Management American Growth Fund 25,224 7,827 (US) LLC Global Contrarian Fund 272 390 Healthcare Fund 15,087 14,560 U.S. Small Cap Equity Fund 1,173 2,068 MANULIFE GLOBAL FUND 260

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 3 Expenses (continued) 3.7 Transaction costs For the year ended 30 June 2017 and year ended 30 June 2016, 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 2017 30 June 2016 Equity Funds: American Growth Fund 174,620 66,554 ASEAN Equity Fund 24,235 12,669 Asia Value Dividend Equity Fund 63,574 63,393 Asian Equity Fund 781,122 2,069,060 Asian Small Cap Equity Fund 4,827,409 6,399,239 China Value Fund 1,737,268 1,319,700 Dragon Growth Fund 485,874 451,014 Emerging Eastern Europe Fund 150,226 114,056 European Growth Fund 391,537 408,852 Global Contrarian Fund 15,202 13,997 Global Equity Fund 97,333 170,282 Global Property Fund 4,581 8,158 Global Resources Fund 9,831 9,316 Greater China Opportunities Fund 56,631 48,738 Healthcare Fund 118,041 202,753 India Equity Fund 1,390,311 1,468,174 Japanese Growth Fund 31,462 28,126 Latin America Equity Fund 89,588 99,266 Russia Equity Fund 180,775 124,295 Taiwan Equity Fund 127,391 129,541 Turkey Equity Fund 55,277 33,670 U.S. Small Cap Equity Fund 54,563 61,599 Bond Funds: Asia Total Return Fund 15,588 1,304 Strategic Income Fund 7,444 12,464 U.S. Bond Fund 20 5 U.S. Special Opportunities Fund 249 870 U.S. Treasury Inflation-Protected Securities Fund 261 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 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 (CAD), 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, Class 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. 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 I 16-Oct-12 Asia Total Return Fund AA Inc 1-Jul-11 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 I 1-Jul-11 China Value Fund A 1-Jul-11 China Value Fund AA 1-Jul-11 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 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 MANULIFE GLOBAL FUND 262

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 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 Global Equity Fund A 1-Jul-11 Global Equity 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 I2 1-Jul-12 Taiwan Equity Fund AA 1-Jul-11 Turkey Equity Fund AA 1-Jul-11 U.S. Bond Fund AA 1-Jul-11 U.S. Bond Fund I 2-Jun-14 U.S. Small Cap Equity Fund AA 1-Jul-11 U.S. Special Opportunities Fund AA 1-Jul-11 U.S. Special Opportunities Fund I 2-Jun-14 U.S. 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 2017 and year ended 30 June 2016, the total capital gain tax paid by the following sub funds are as follows: Sub-Fund Capital Gain Tax in USD For the year ended 30 June 2017 For the year ended 30 June 2016 Asian Equity Fund 10,188 Asia Total Return Fund 42,372 India Equity Fund 3,252,028 1,268,147 4.4 United States A new US tax regulation came into force on 1st January 2017: IRS 871(m). The US Internal Revenue Code (IRS) issued a new tax rule, which will come in different phases, starting from 01 January 2017. IRS 871 (m) imposes US withholding tax (WHT) on non-us persons holding certain derivatives on US Equity securities. The dividend element is currently part of those derivatives prices, and will be the basis for the new US withholding tax. That information will be available on broker statement. 263 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 5 Dividend policy The Company s policy is to distribute annually at least 85% of the available net investment income of each sub-fund, to its Shareholders. The following dividends were distributed to Shareholders during the year ended 30 June 2017 and year ended 30 June 2016: For the year ended 30 June 2017 For the year ended 30 June 2016 Name of Sub-Funds Class Currency Dividend Per Share Distribution Date Dividend Per Share Distribution Date Annual Dividend American Growth Fund I3 USD 0.00026672 4-Nov-16 0.00100085 6-Nov-15 ASEAN Equity Fund I USD 0.00958440 4-Nov-16 Asia Total Return Fund AA USD 0.00397302 4-Nov-16 0.02807904 6-Nov-15 Asia Total Return Fund AA Inc USD 0.00036750 4-Nov-16 0.00147150 6-Nov-15 Asia Total Return Fund AA (HKD) HKD 0.00021424 4-Nov-16 Asia Total Return Fund AA (HKD) Inc HKD 0.00012840 4-Nov-16 0.00909758 6-Nov-15 Asia Total Return Fund HA USD 0.00614057 6-Nov-15 Asia Total Return Fund HC USD 0.00621484 6-Nov-15 Asia Total Return Fund HI USD 0.00609688 6-Nov-15 Asia Total Return Fund I USD 0.03882561 4-Nov-16 0.05070625 6-Nov-15 Asia Total Return Fund I3 USD 0.00496185 4-Nov-16 Asia Total Return Fund J USD 0.00079837 4-Nov-16 0.00274307 6-Nov-15 Asia Value Dividend Equity Fund AA USD 0.03756251 4-Nov-16 Asian Equity Fund A USD 0.01345941 4-Nov-16 0.01497817 6-Nov-15 Asian Equity Fund AA USD 0.00326390 6-Nov-15 Asian Equity Fund I USD 0.00342492 4-Nov-16 0.01111821 6-Nov-15 Asian Equity Fund I3 USD 0.00244155 4-Nov-16 0.00503144 6-Nov-15 Asian Small Cap Equity Fund AA USD 0.01670127 6-Nov-15 Asian Small Cap Equity Fund AA (HKD) HKD 0.02136068 6-Nov-15 Asian Small Cap Equity Fund HA USD 0.00293841 6-Nov-15 Asian Small Cap Equity Fund HI USD 0.01045154 6-Nov-15 Asian Small Cap Equity Fund I USD 0.00821623 4-Nov-16 0.02367273 6-Nov-15 China Value Fund A USD 0.04915130 4-Nov-16 0.06033490 6-Nov-15 China Value Fund AA USD 0.00955641 4-Nov-16 0.01206135 6-Nov-15 China Value Fund HA USD 0.00233427 6-Nov-15 Dragon Growth Fund A USD 0.01743941 4-Nov-16 0.01978451 6-Nov-15 Dragon Growth Fund AA (HKD) HKD 0.04114913 4-Nov-16 0.06673915 6-Nov-15 Emerging Eastern Europe Fund A USD 0.06658971 4-Nov-16 0.06976510 6-Nov-15 Emerging Eastern Europe Fund AA USD 0.02615163 4-Nov-16 0.01205096 6-Nov-15 European Growth Fund A USD 0.16088910 4-Nov-16 0.08798502 6-Nov-15 European Growth Fund AA USD 0.01453652 4-Nov-16 0.00222230 6-Nov-15 European Growth Fund I USD 0.03879819 4-Nov-16 0.00790454 6-Nov-15 European Growth Fund I3 USD 0.00827831 4-Nov-16 0.00436956 6-Nov-15 Global Contrarian Fund AA USD 0.00281418 4-Nov-16 0.00149062 6-Nov-15 Global Contrarian Fund HI USD 0.00351599 6-Nov-15 Global Contrarian Fund I2 USD 0.01221230 4-Nov-16 0.02872000 6-Nov-15 Global Contrarian Fund I3 USD 0.02107797 4-Nov-16 0.00354710 6-Nov-15 Global Contrarian Fund S SGD 0.00134465 4-Nov-16 0.04146222 6-Nov-15 Global Equity Fund A USD 0.03002207 4-Nov-16 0.00172171 6-Nov-15 Global Equity Fund AA USD 0.00329628 4-Nov-16 Global Property Fund AA USD 0.00425030 4-Nov-16 0.00086016 6-Nov-15 Global Property Fund AA (HKD) HKD 0.16431390 4-Nov-16 0.01103424 6-Nov-15 Global Property Fund I3 USD 0.01669471 4-Nov-16 Global Resources Fund AA USD 0.00045192 4-Nov-16 Global Resources Fund I3 USD 0.01607019 4-Nov-16 Greater China Opportunities Fund AA USD 0.00583169 6-Nov-15 Greater China Opportunities Fund I USD 0.00917278 4-Nov-16 0.02645032 6-Nov-15 Greater China Opportunities Fund I3 USD 0.01161668 6-Nov-15 Healthcare Fund I3 USD 0.00079520 6-Nov-15 India Equity Fund I2 USD 0.00056285 6-Nov-15 Japanese Growth Fund A USD 0.00795514 4-Nov-16 0.00822770 6-Nov-15 Japanese Growth Fund AA USD 0.00966116 4-Nov-16 0.00025533 6-Nov-15 Japanese Growth Fund I3 USD 0.00451895 4-Nov-16 0.00025871 6-Nov-15 Latin America Equity Fund AA USD 0.00083624 4-Nov-16 0.00039142 6-Nov-15 MANULIFE GLOBAL FUND 264

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 5 Dividend policy (continued) Name of Sub-Funds Class Currency For the year ended 30 June 2017 Dividend Distribution Per Share Date For the year ended 30 June 2016 Dividend Distribution Per Share Date Russia Equity Fund AA USD 0.00996853 4-Nov-16 0.01061863 6-Nov-15 Strategic Income Fund AA USD 0.03072670 4-Nov-16 0.03815586 6-Nov-15 Strategic Income Fund HA USD 0.00820511 6-Nov-15 Strategic Income Fund HC USD 0.00829213 6-Nov-15 Strategic Income Fund HI USD 0.00815179 6-Nov-15 Strategic Income Fund I2 USD 0.02769038 4-Nov-16 0.03370554 6-Nov-15 Strategic Income Fund S Hedged SGD 0.00165911 4-Nov-16 0.00510052 6-Nov-15 Taiwan Equity Fund AA USD 0.01526051 4-Nov-16 0.00766509 6-Nov-15 Turkey Equity Fund AA USD 0.00445500 4-Nov-16 U.S. Bond Fund AA USD 0.03066333 4-Nov-16 0.03933201 6-Nov-15 U.S. Bond Fund AA Inc USD 0.00080784 4-Nov-16 0.00222800 6-Nov-15 U.S. Bond Fund AA (HKD) HKD 0.03003016 4-Nov-16 0.06901132 6-Nov-15 U.S. Bond Fund AA (HKD) Inc HKD 0.03171532 6-Nov-15 U.S. Bond Fund HA USD 0.00526681 6-Nov-15 U.S. Bond Fund HC USD 0.00532851 6-Nov-15 U.S. Bond Fund HI USD 0.00517960 6-Nov-15 U.S. Bond Fund I USD 0.08575041 4-Nov-16 0.01025702 6-Nov-15 U.S. Bond Fund I3 USD 0.01314078 4-Nov-16 0.00389930 6-Nov-15 U.S. Small Cap Equity Fund I3 USD 0.00231091 6-Nov-15 U.S. Special Opportunities Fund AA USD 0.03897040 4-Nov-16 0.05615305 6-Nov-15 U.S. Special Opportunities Fund AA Inc USD 0.00125083 6-Nov-15 U.S. Special Opportunities Fund I USD 0.05219913 4-Nov-16 0.05066252 6-Nov-15 U.S. Special Opportunities Fund I3 USD 0.00869760 4-Nov-16 U.S. Special Opportunities Fund T USD 0.00118718 4-Nov-16 0.01118044 6-Nov-15 U.S. Treasury Inflation-Protected Securities Fund I3 USD 0.00341970 4-Nov-16 Monthly Dividend Asia Total Return Fund AA Inc USD 0.00400000 15-Jul-16 0.00237315 16-Jul-15 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 15-Jul-16 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 Total Return Fund AA Inc USD 0.00400000 12-Aug-16 0.00206334 14-Aug-15 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 12-Aug-16 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 Total Return Fund AA Inc USD 0.00400000 14-Sep-16 0.00200013 14-Sep-15 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 14-Sep-16 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 Total Return Fund AA Inc USD 0.00400000 18-Oct-16 0.00194997 15-Oct-15 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 18-Oct-16 0.02112965 15-Oct-15 Asia Total Return Fund HA USD 0.00146303 15-Oct-15 Asia Total Return Fund HC USD 0.00107477 15-Oct-15 Asia Total Return Fund HI USD 0.00180560 15-Oct-15 Asia Total Return Fund AA Inc USD 0.00400000 15-Nov-16 0.00222387 13-Nov-15 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 15-Nov-16 0.02409114 13-Nov-15 Asia Total Return Fund HA USD 0.00172191 13-Nov-15 Asia Total Return Fund HC USD 0.00132705 13-Nov-15 Asia Total Return Fund HI USD 0.00207250 13-Nov-15 Asia Total Return Fund AA Inc USD 0.00400000 14-Dec-16 0.00256004 14-Dec-15 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 14-Dec-16 0.02682479 14-Dec-15 Asia Total Return Fund HA USD 0.00200681 14-Dec-15 Asia Total Return Fund HC USD 0.00163235 14-Dec-15 Asia Total Return Fund HI USD 0.00234515 14-Dec-15 265 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 5 Dividend policy (continued) Name of Sub-Funds Class Currency For the year ended 30 June 2017 Dividend Distribution Per Share Date For the year ended 30 June 2016 Dividend Distribution Per Share Date Asia Total Return Fund AA Inc USD 0.00400000 13-Jan-17 0.00248996 15-Jan-16 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 13-Jan-17 0.02661183 15-Jan-16 Asia Total Return Fund HA USD 0.00198907 15-Jan-16 Asia Total Return Fund HC USD 0.00161274 15-Jan-16 Asia Total Return Fund HI USD 0.00232070 15-Jan-16 Asia Total Return Fund AA Inc USD 0.00400000 14-Feb-17 0.00230825 18-Feb-16 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 14-Feb-17 0.02527534 18-Feb-16 Asia Total Return Fund AA Inc USD 0.00400000 14-Mar-17 0.00267809 14-Mar-16 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 14-Mar-17 0.02909758 14-Mar-16 Asia Total Return Fund AA Inc USD 0.00400000 19-Apr-17 0.00230621 15-Apr-16 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 19-Apr-17 0.02679950 15-Apr-16 Asia Total Return Fund AA Inc USD 0.00400000 16-May-17 0.00184829 18-May-16 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 16-May-17 0.02052881 18-May-16 Asia Total Return Fund AA Inc USD 0.00400000 15-Jun-17 0.00253698 14-Jun-16 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 15-Jun-17 0.02650152 14-Jun-16 Asia Value Dividend Equity Fund AA Inc USD 0.00340000 15-Jul-16 0.00340000 16-Jul-15 Asia Value Dividend Equity Fund AA Inc USD 0.00348635 12-Aug-16 0.00339999 14-Aug-15 Asia Value Dividend Equity Fund AA Inc USD 0.00339999 14-Sep-16 0.00339999 14-Sep-15 Asia Value Dividend Equity Fund AA Inc USD 0.00338895 18-Oct-16 0.00340000 15-Oct-15 Asia Value Dividend Equity Fund AA Inc USD 0.00339999 15-Nov-16 0.00338889 13-Nov-15 Asia Value Dividend Equity Fund AA Inc USD 0.00337634 14-Dec-16 0.00341485 14-Dec-15 Asia Value Dividend Equity Fund AA Inc USD 0.00336231 13-Jan-17 0.00339999 15-Jan-16 Asia Value Dividend Equity Fund AA Inc USD 0.00347710 14-Feb-17 0.00339999 18-Feb-16 Asia Value Dividend Equity Fund AA Inc USD 0.00314724 14-Mar-17 0.00339999 14-Mar-16 Asia Value Dividend Equity Fund AA Inc USD 0.00329966 19-Apr-17 0.00340000 15-Apr-16 Asia Value Dividend Equity Fund AA Inc USD 0.00345444 16-May-17 0.00340000 18-May-16 Asia Value Dividend Equity Fund AA Inc USD 0.00338873 15-Jun-17 0.00339999 14-Jun-16 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 0.00185063 15-Jul-16 0.00181132 16-Jul-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 0.00182279 12-Aug-16 0.00218266 14-Aug-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 0.00192088 14-Sep-16 0.00274238 14-Sep-15 Strategic Income Fund HA USD 0.00172809 15-Oct-15 Strategic Income Fund HC USD 0.00131676 15-Oct-15 Strategic Income Fund HI USD 0.00208890 15-Oct-15 Strategic Income Fund S Hedged SGD 0.00158690 18-Oct-16 0.00234097 15-Oct-15 Strategic Income Fund HA USD 0.00159279 13-Nov-15 Strategic Income Fund HC USD 0.00118411 13-Nov-15 Strategic Income Fund HI USD 0.00195211 13-Nov-15 Strategic Income Fund S Hedged SGD 0.00191520 15-Nov-16 0.00226668 13-Nov-15 Strategic Income Fund HA USD 0.00191118 14-Dec-15 Strategic Income Fund HC USD 0.00152003 14-Dec-15 Strategic Income Fund HI USD 0.00225325 14-Dec-15 Strategic Income Fund S Hedged SGD 0.00198468 14-Dec-16 0.00244630 14-Dec-15 Strategic Income Fund HA USD 0.00151777 15-Jan-16 Strategic Income Fund HC USD 0.00113114 15-Jan-16 Strategic Income Fund HI USD 0.00185218 15-Jan-16 Strategic Income Fund S Hedged SGD 0.00188296 13-Jan-17 0.00211461 15-Jan-16 Strategic Income Fund S Hedged SGD 0.00216174 14-Feb-17 0.00180956 18-Feb-16 Strategic Income Fund S Hedged SGD 0.00214698 14-Mar-17 0.00188385 14-Mar-16 Strategic Income Fund S Hedged SGD 0.00187510 19-Apr-17 0.00231345 15-Apr-16 Strategic Income Fund S Hedged SGD 0.00201682 16-May-17 0.00204424 18-May-16 Strategic Income Fund S Hedged SGD 0.00224133 15-Jun-17 0.00185540 14-Jun-16 MANULIFE GLOBAL FUND 266

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 5 Dividend policy (continued) Name of Sub-Funds Class Currency For the year ended 30 June 2017 Dividend Distribution Per Share Date For the year ended 30 June 2016 Dividend Distribution Per Share Date U.S. Bond Fund AA Inc USD 0.00191311 15-Jul-16 0.00187758 16-Jul-15 U.S. Bond Fund AA (HKD) Inc HKD 0.01989099 15-Jul-16 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. Bond Fund AA Inc USD 0.00204455 12-Aug-16 0.00581020 14-Aug-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02041708 12-Aug-16 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. Bond Fund AA Inc USD 0.00224121 14-Sep-16 0.00197941 14-Sep-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02097691 14-Sep-16 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. Bond Fund AA Inc USD 0.00205321 18-Oct-16 0.00188812 15-Oct-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02059598 18-Oct-16 0.01879432 15-Oct-15 U.S. Bond Fund HA USD 0.00129705 15-Oct-15 U.S. Bond Fund HC USD 0.00088603 15-Oct-15 U.S. Bond Fund HI USD 0.00165410 15-Oct-15 U.S. Bond Fund AA Inc USD 0.00224259 15-Nov-16 0.00188937 13-Nov-15 U.S. Bond Fund AA (HKD) Inc HKD 0.01818338 15-Nov-16 0.01221878 13-Nov-15 U.S. Bond Fund HA USD 0.00132445 13-Nov-15 U.S. Bond Fund HC USD 0.00091461 13-Nov-15 U.S. Bond Fund HI USD 0.00168269 13-Nov-15 U.S. Bond Fund AA Inc USD 0.00242642 14-Dec-16 0.00062545 14-Dec-15 U.S. Bond Fund AA (HKD) Inc HKD 0.02425599 14-Dec-16 0.01881555 14-Dec-15 U.S. Bond Fund HA USD 0.00143527 14-Dec-15 U.S. Bond Fund HC USD 0.00104832 14-Dec-15 U.S. Bond Fund HI USD 0.00177286 14-Dec-15 U.S. Bond Fund AA Inc USD 0.00221814 13-Jan-17 0.00468105 15-Jan-16 U.S. Bond Fund AA (HKD) Inc HKD 0.02323870 13-Jan-17 0.01845524 15-Jan-16 U.S. Bond Fund HA USD 0.00128431 15-Jan-16 U.S. Bond Fund HC USD 0.00090078 15-Jan-16 U.S. Bond Fund HI USD 0.00162102 15-Jan-16 U.S. Bond Fund AA Inc USD 0.00225198 14-Feb-17 0.00127004 18-Feb-16 U.S. Bond Fund AA (HKD) Inc HKD 0.02130874 14-Feb-17 0.01944883 18-Feb-16 U.S. Bond Fund AA Inc USD 0.00234908 14-Mar-17 0.00205058 14-Mar-16 U.S. Bond Fund AA (HKD) Inc HKD 0.02216025 14-Mar-17 0.02048343 14-Mar-16 U.S. Bond Fund AA Inc USD 0.00231385 19-Apr-17 0.00192425 15-Apr-16 U.S. Bond Fund AA (HKD) Inc HKD 0.02170592 19-Apr-17 0.01992691 15-Apr-16 U.S. Bond Fund AA Inc USD 0.00219293 16-May-17 0.00295704 18-May-16 U.S. Bond Fund AA (HKD) Inc HKD 0.02346088 16-May-17 0.01966352 18-May-16 U.S. Bond Fund AA Inc USD 0.00243915 15-Jun-17 0.00226190 14-Jun-16 U.S. Bond Fund AA (HKD) Inc HKD 0.02919584 15-Jun-17 0.02259879 14-Jun-16 U.S. Special Opportunities Fund AA Inc USD 0.00337547 15-Jul-16 0.00326626 16-Jul-15 U.S. Special Opportunities Fund T USD 0.00371335 15-Jul-16 0.00350796 16-Jul-15 U.S. Special Opportunities Fund AA Inc USD 0.00342746 12-Aug-16 0.00323900 14-Aug-15 U.S. Special Opportunities Fund T USD 0.00399853 12-Aug-16 0.00355641 14-Aug-15 U.S. Special Opportunities Fund AA Inc USD 0.00343141 14-Sep-16 0.00340064 14-Sep-15 U.S. Special Opportunities Fund T USD 0.00377676 14-Sep-16 0.00369997 14-Sep-15 U.S. Special Opportunities Fund AA Inc USD 0.00301056 18-Oct-16 0.00354327 15-Oct-15 U.S. Special Opportunities Fund T USD 0.00332417 18-Oct-16 0.00396486 15-Oct-15 U.S. Special Opportunities Fund AA Inc USD 0.00325459 15-Nov-16 0.00360405 13-Nov-15 U.S. Special Opportunities Fund T USD 0.00364437 15-Nov-16 0.00401766 13-Nov-15 U.S. Special Opportunities Fund AA Inc USD 0.00355742 14-Dec-16 0.00383025 14-Dec-15 U.S. Special Opportunities Fund T USD 0.00413464 14-Dec-16 0.00424661 14-Dec-15 U.S. Special Opportunities Fund AA Inc USD 0.00339530 13-Jan-17 0.00346779 15-Jan-16 U.S. Special Opportunities Fund T USD 0.00372596 13-Jan-17 0.00392133 15-Jan-16 U.S. Special Opportunities Fund AA Inc USD 0.00314515 14-Feb-17 0.00335534 18-Feb-16 267 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 5 Dividend policy (continued) Name of Sub-Funds Class Currency For the year ended 30 June 2017 Dividend Distribution Per Share Date For the year ended 30 June 2016 Dividend Distribution Per Share Date U.S. Special Opportunities Fund T USD 0.00339686 14-Feb-17 0.00398214 18-Feb-16 U.S. Special Opportunities Fund AA Inc USD 0.00321350 14-Mar-17 0.00376611 14-Mar-16 U.S. Special Opportunities Fund T USD 0.00355131 14-Mar-17 0.00407584 14-Mar-16 U.S. Special Opportunities Fund AA (HKD) Inc HKD 0.02084690 14-Mar-17 U.S. Special Opportunities Fund AA Inc USD 0.00309859 19-Apr-17 0.00353159 15-Apr-16 U.S. Special Opportunities Fund T USD 0.00362944 19-Apr-17 0.00383675 15-Apr-16 U.S. Special Opportunities Fund AA Inc USD 0.00317853 16-May-17 0.00355882 18-May-16 U.S. Special Opportunities Fund T USD 0.00353907 16-May-17 0.00372528 18-May-16 U.S. Special Opportunities Fund AA (HKD) Inc HKD 0.00129605 16-May-17 U.S. Special Opportunities Fund AA Inc USD 0.00349595 15-Jun-17 0.00330080 14-Jun-16 U.S. Special Opportunities Fund T USD 0.00437102 15-Jun-17 0.00341567 14-Jun-16 Quarterly Dividend Asia Total Return Fund J USD 0.00902900 15-Jul-16 0.00946687 16-Jul-15 Asia Total Return Fund J USD 0.00823056 18-Oct-16 0.00829136 15-Oct-15 Asia Total Return Fund J USD 0.00823125 13-Jan-17 0.00945952 15-Jan-16 Asia Total Return Fund J USD 0.01057086 19-Apr-17 0.00969818 15-Apr-16 6 Changes in the Portfolio of Investments The detail of all transactions on portfolio of investments over the period is available from Citibank Europe plc, 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 2017, the Company has outstanding forward foreign exchange contracts as follows: Asia Total Return Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Appreciation/ (Depreciation) (USD) 1,000,000,000 KRW 876,040 USD Australia New Zealand Bank 25-Jul-17 (1,770) 983,428 USD 1,300,000 AUD Australia New Zealand Bank 25-Jul-17 (15,672) 1,329,829 USD 1,840,000 NZD Australia New Zealand Bank 25-Jul-17 (17,431) 1,916,884 USD 2,662,360 SGD Australia New Zealand Bank 25-Jul-17 (18,136) 4,160,700 USD 4,749,980,000 KRW Australia New Zealand Bank 25-Jul-17 7,933 Total net unrealised depreciation on forward foreign exchange contract (45,076) Global Contrarian Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Appreciation/ (Depreciation) (USD) 1,185,000 EUR 1,356,493 USD HSBC New York 20-Sep-17 3,292 52,224,960 JPY 464,456 USD Goldman Sachs 20-Sep-17 2,971 1,335,957 USD 1,185,000 EUR HSBC New York 20-Sep-17 (23,723) 476,149 USD 52,224,960 JPY Goldman Sachs 20-Sep-17 8,690 Total net unrealised depreciation on forward foreign exchange contract (8,770) MANULIFE GLOBAL FUND 268

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 7 Financial instruments (continued) Forward foreign exchange contracts (continued) Global Equity Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Appreciation/ (Depreciation) (USD) 326,406,000 JPY 2,902,847 USD Goldman Sachs 20-Sep-17 18,571 8,510,000 EUR 9,741,567 USD HSBC New York 20-Sep-17 23,641 2,975,930 USD 326,406,000 JPY Goldman Sachs 20-Sep-17 54,312 9,594,089 USD 8,510,000 EUR HSBC New York 20-Sep-17 (170,366) Total net unrealised depreciation on forward foreign exchange contract (73,842) Strategic Income Fund Purchased Amount Currency Sold Amount Currency Counterparty Maturity Date Appreciation/ (Depreciation) (USD) 695 USD 960 SGD Citibank London 31-Jul-17 (3) 180,000 USD 248,433 SGD HSBC New York 20-Sep-17 (722) 361,763 USD 278,575 GBP HSBC New York 20-Sep-17 (612) 2,637,929 USD 3,666,693 NZD State Street Corp 20-Sep-17 (44,100) 145,433 USD 129,000 EUR HSBC New York 20-Sep-17 (2,583) 245,421 USD 1,618,685 DKK Citibank New York 20-Sep-17 (4,415) 3,190,643 USD 4,237,242 AUD Australia New Zealand Bank 20-Sep-17 (63,612) 58,652 USD 508,687 SEK Citibank New York 20-Sep-17 (1,979) 2,143,661 USD 2,960,396 SGD Standard Chartered Bank 20-Sep-17 (9,869) New York 12,251 USD 16,991 SGD Citibank London 31-Jul-17 (100) 12,522 USD 17,362 SGD Citibank London 31-Jul-17 (98) 4,880 USD 6,765 SGD Citibank London 31-Jul-17 (38) 11,665 USD 16,141 SGD Citibank London 31-Jul-17 (67) 129,000 EUR 144,316 USD Royal Bank of 20-Sep-17 3,711 Canada Toronto 145,695 SGD 105,000 USD Goldman Sachs 20-Sep-17 986 124,944 SGD 90,000 USD Goldman Sachs 20-Sep-17 891 33,292 SGD 24,054 USD Citibank London 31-Jul-17 145 14,060,042 SGD 10,156,671 USD Citibank London 31-Jul-17 63,391 4,000 SGD 2,885 USD Citibank London 31-Jul-17 22 12,628 USD 17,395 SGD Citibank London 31-Jul-17 (16) Total net unrealised depreciation on forward foreign exchange contract (59,068) 269 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 7 Financial instruments (continued) Financial future contracts As at 30 June 2017, 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) 20-Sep-17 (34) 10 Year US Treasury Note Future (CBT) UBS London USD Cash 4,277,626 126 1,719 Total net unrealised appreciation on financial future contract 1,719 The amount of collateral delivered for futures contract by the Asia Total Return Fund amounted to USD 44,200 (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 Depreciation (USD) 20-Sep-17 (40) 10 Year US Treasury Note Future (CBT) 20-Sep-17 (4) 20 Year US Long Bond (CBT) 29-Sep-17 (19) 5 Year US Treasury Note Future (CBT) Morgan Stanley USD Cash 5,032,500 126 (2,443) Morgan Stanley USD Cash 617,000 154 (7,876) Morgan Stanley USD Cash 2,242,148 118 1,188 Total net unrealised depreciation on financial future contract (9,131) The amount of collateral received for futures contract by the Strategic Income Fund amounted to USD 118,950 (counterparty: Morgan Stanley). Options As at 30 June 2017, the Company has outstanding options contract as follows: Strategic Income Fund Description Maturity Date Currency Contracts Counter party Strike Price Market value (USD) Unrealised Depreciation (USD) FX option USD/JPY 15-Nov-17 USD 590,000 UBS London 97.65 712 (10,380) Total net unrealised depreciation on option contract (10,380) MANULIFE GLOBAL FUND 270

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 8 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 ended 30 June 2017, 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. 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 USD 4,838; 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. 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. 271 MANULIFE GLOBAL FUND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 9 Subsequent events The following dividends in respect of the current year were distributed to Shareholders after the period ended 30 June 2017: Name of Sub-Funds Class Currency Monthly Dividend Dividend Per Share Distribution Date Asia Total Return Fund AA Inc USD 0.00400000 14-Jul-17 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 14-Jul-17 Asia Total Return Fund AA Inc USD 0.00400000 14-Aug-17 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 14-Aug-17 Asia Total Return Fund AA Inc USD 0.00400000 14-Sep-17 Asia Total Return Fund AA (HKD) Inc HKD 0.04000000 14-Sep-17 Asia Value Dividend Equity Fund AA Inc USD 0.00341385 14-Jul-17 Asia Value Dividend Equity Fund AA Inc USD 0.00322643 14-Aug-17 Asia Value Dividend Equity Fund AA Inc USD 0.00343303 14-Sep-17 Strategic Income Fund S Hedged SGD 0.00194189 14-Jul-17 Strategic Income Fund S Hedged SGD 0.00204036 14-Aug-17 Strategic Income Fund S Hedged SGD 0.00206285 14-Sep-17 U.S. Bond Fund AA Inc USD 0.00241509 14-Jul-17 U.S. Bond Fund AA (HKD) Inc HKD 0.02647729 14-Jul-17 U.S. Bond Fund AA Inc USD 0.00219184 14-Aug-17 U.S. Bond Fund AA (HKD) Inc HKD 0.02947546 14-Aug-17 U.S. Bond Fund AA Inc USD 0.00111875 14-Sep-17 U.S. Bond Fund AA (HKD) Inc HKD 0.02679719 14-Sep-17 U.S. Special Opportunities Fund AA Inc USD 0.00308286 14-Jul-17 U.S. Special Opportunities Fund T USD 0.00351627 14-Jul-17 U.S. Special Opportunities Fund AA Inc USD 0.00313797 14-Aug-17 U.S. Special Opportunities Fund T USD 0.00356993 14-Aug-17 U.S. Special Opportunities Fund AA Inc USD 0.00340958 14-Sep-17 U.S. Special Opportunities Fund T USD 0.00380755 14-Sep-17 Quarterly Dividend Asia Total Return Fund J USD 0.00918182 14-Jul-17 MANULIFE GLOBAL FUND 272

INFORMATION FOR SHAREHOLDERS GENERAL INFORMATION Authorised Status The Company qualifies as an undertaking for collective investment in transferable securities ( UCITS ) under Part I of the Law of 10 May 2016 of the Grand Duchy of Luxembourg. Dividend Payment When a dividend is declared at an Annual General Meeting: registered Shareholders who have requested that dividends of any sub-fund be re-invested automatically in further shares of the sub-fund will receive an appropriate number of additional shares. Such shares will be issued on the dealing day following the date of payment of the dividend. Shareholders should note that dividend re-investment represents a distribution of income and should be recorded as such on the Shareholders tax return; other registered Shareholders will be sent a cheque at the date of payment for the appropriate amount. 273 MANULIFE GLOBAL FUND

UNAUDITED SUPPLEMENTARY INFORMATION 1 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 ASEAN Equity Fund Commitment Approach 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 Equity 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 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 2016 to 30 June 2017. 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. MANULIFE GLOBAL FUND 274

UNAUDITED SUPPLEMENTARY INFORMATION 1 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: -0.41% Highest 1 Day VaR: -0.21% Average 1 Day VaR utilization limit: -0.27% Leverage level utilization (Sum of notionals): Highest Leverage level: 135.71% Average Leverage level: 90.79% 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 2016 to 30 June 2017. 2 Securities Financing Transaction Regulation The Securities Financing Transaction Regulation ( SFTR ) introduces reporting requirements for securities financing transactions ( SFTs ) and total return swaps. A SFT is defined as per Article 3 (11) of the SFTR as: a repurchase/reverse repurchase agreement; securities or commodities lending and securities or commodities borrowing; a buy-sell back transaction or sell-buy back transaction; or a margin lending transaction. As at 30 June 2017, the Company did not enter into transactions within the scope of the SFTR. 275 MANULIFE GLOBAL FUND

UNAUDITED SUPPLEMENTARY INFORMATION 3 Remuneration Disclosure This policy has been developed in consideration of: Directive 2009/65/EC ( UCITS Directive ), as amended by Directive 2014/91/EU ( UCITS V Directive ) European Securities and Markets Authority (ESMA) Consultation Paper Guidelines on sound remuneration policies under the UCITS Directive and AIFMD 2015/ESMA/1172, and the draft guidelines concerning the application of the remuneration principles under Article 14b of the UCITS Directive therein ( ESMA Guidelines ) 1 Draft bill of law N. 6845 implementing the UCITS V Directive into Luxembourg laws. This policy aims to: ensure that remuneration 2 paid by MGF or any of its sub-funds is in line with the business strategy, objectives, values and interests of MGF and its sub-funds and of the investors in such sub-funds; ensure consistency with and promotion of sound and effective risk management to avoid excessive risk taking which is inconsistent with the risk profiles, rules or Articles of Incorporation of MGF and its sub-funds; and avoid or manage conflicts of interest. Remuneration Committee The requirement to establish a remuneration committee pursuant to Article 14b(4) of the UCITS Directive (as amended by the UCITS V Directive) is currently disapplied in respect of MGF, having taken into account the principle of proportionality set out in the ESMA Guidelines and the criteria relevant to the application of such principle: In taking measures to comply with the remuneration principles management companies should comply in a way and to the extent that is appropriate to their size, internal organization and the nature, scope and complexity of their activities. 3 1. Scope This policy applies to the following persons as identified staff 4 of MGF receiving remuneration from MGF or any of its sub-funds: The conducting officers (the Conducting Officers ) The members of the board of directors (the Directors ) The remuneration of both the Conducting Officers and the Directors is currently fixed, without any variable remuneration component. 5 1 The final ESMA Guidelines are not yet available as of the date of this policy. 2 As defined in the ESMA Guidelines. 3 See Sections 7 and 11.2 of the ESMA Guidelines. 4 As defined in the ESMA Guidelines. 5 Directors who are employees of Manulife Financial Corporation and its subsidiaries currently agree to waive their right to any Directors fees. The fixed remuneration amounts are disclosed under the caption Directors fees and expenses in the Statement of Operations. MANULIFE GLOBAL FUND 276

UNAUDITED SUPPLEMENTARY INFORMATION 3 Remuneration Disclosure (continued) Remuneration Committee (continued) 2. Remuneration of the Conducting Officers The remuneration of the Conducting Officers should reflect the responsibilities given their experience as a whole, the complexity of MGF and each sub-fund s investment strategy and objectives and their distribution strategy. The Board shall carry out an annual review of the Conducting Officers compensation, if necessary, to ensure that the proposed remuneration is in line with market rates for similar fund structures and also takes into account overall changes within MGF s activities. To conduct such reviews, the Board may set up a subcommittee including at least one independent Director and/or seek the assistance of external advisors or use information available from various external data sources. 3. Remuneration of the Board of Directors (the Board ) The remuneration of the Directors should reflect the responsibilities of the Board given their experience as a whole, the complexity of MGF and each sub-fund s investment strategy and objectives and their distribution strategy. The Board shall carry out an annual review of Directors compensation, if necessary, to ensure that the proposed remuneration is in line with market rates for similar fund structures and also takes into account overall changes within MGF s activities. To conduct such reviews, the Board may set up a subcommittee including at least one independent Director and/or seek the assistance of external advisors or use information available from various external data sources Compensation due and payable to Directors shall be proposed by the Board and submitted for approval by the Annual General Meeting of shareholders. Directors will be reimbursed for travelling expenses related to meetings and for any other expense necessarily incurred in relation to their function. Directors may also be entitled to reasonable professional training that is relevant for the conduct of their mandate subject to such training being approved by the Board. 4. Appointment of Investment Managers Any entity to whom: (i) investment management activities have been delegated by MGF; and (ii) whose professional activities (or those of its staff) have a material impact on the risk profiles of MGF and any of its sub-funds (a Delegated Investment Manager ), shall demonstrate that it is subject to regulatory requirements on remuneration that are equally as effective as those applicable under the ESMA Guidelines (including remuneration rules under either EU Directive 2013/36/EU (CRD IV) or Directive 2011/61/EU (AIFMD)). If a Delegated Investment Manager is not subject to the above-mentioned regulatory requirements, the remuneration policies applicable to such Delegated Investment Manager shall be further assessed and if deemed necessary, appropriate contractual or other appropriate arrangements shall be effected to ensure that there is no circumvention of the remuneration rules set out in the ESMA Guidelines and the UCITS V Directive. 277 MANULIFE GLOBAL FUND

UNAUDITED SUPPLEMENTARY INFORMATION 3 Remuneration Disclosure (continued) Remuneration Committee (continued) 5. Conflicts of Interest Possible conflicts of interest, criteria for the identification of conflicts of interest and measures implemented to avoid or manage conflicts of interest are described in further detail in MGF s Conflict of Interest Policy. 6. Disclosure Relevant and appropriate disclosure of the features of this Remuneration Policy will be made in line with applicable laws and regulations. 7. Monitoring and review The Board (as the management body of MGF) has delegated the supervisory function in respect of this Remuneration Policy to the Conducting Officers, who shall oversee and review this Remuneration Policy and its implementation on an annual basis and report on the outcome of such review to the Board. MANULIFE GLOBAL FUND 278