Summary

• John Hancock Multimanager Lifestyle Growth Portfolio Class I shares returned -1.05% for the quarter, outperforming the John Hancock Lifestyle Growth Index's return of -1.12%.
• Global financial markets turned lower in March 2026 following the start of conflict in the Middle East, which spiked oil prices and inflation expectations.
• The majority of negative equity returns stemmed from weakness in mega-cap U.S. technology stocks, while value and defensive styles generally produced positive results.
• Asset allocation contributed to relative performance through overweight positions in U.S. large-cap equities, mid-caps, international markets, and real assets.
• The portfolio managers remain committed to a diversified approach, positioning John Hancock Multimanager Lifestyle Growth Portfolio for a wide range of outcomes amid geopolitical uncertainty.

Quarterly commentary

• Financial assets experienced mixed returns in the first quarter.

• The fund, while posting a negative absolute return, outperformed the benchmark.

• Asset allocation and underlying manager performance each contributed positively.

Market