N-CSR

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-21777

John Hancock Funds III
(Exact name of registrant as specified in charter)

601 Congress Street, Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Salvatore Schiavone
Treasurer

601 Congress Street

Boston, Massachusetts 02210

(Name and address of agent for service)

Registrant's telephone number, including area code: 617-663-4497

Date of fiscal year end:	February 28
Date of reporting period:	February 28, 2017

ITEM 1. REPORTS TO STOCKHOLDERS.

John Hancock

International Growth Fund

Annual report 2/28/17

A message to shareholders

Dear shareholder,

After several episodes of volatility in the first half of 2016, international equity indexes exhibited mostly positive momentum in recent months as economic trends improved overseas, especially in Europe. Despite an initial pullback following the November 2016 election of U.S. President Donald Trump, most international stocks rallied in January and February 2017, following closely on the heels of U.S. equity indexes' postelection gains.

Yet there are still challenges at hand. Of note, several European countries will hold elections this year that may ultimately determine the fate of the European Union. Coupled with the near certainty of additional interest-rate increases here in the United States, advisors and investors are rightly concerned about the potential for lackluster fixed-income markets in the coming months; although equity markets may be supported by positive company dynamics.

Since the end of the reporting period, the failure of the Trump administration to replace the Affordable Care Act, among other missteps, has been somewhat beneficial for bonds and somewhat problematic for equities. One of your best resources for dealing with market uncertainty is your financial advisor, who can help ensure your portfolio is sufficiently diversified to meet your long-term objectives and to withstand the inevitable bumps along the way.  

On behalf of everyone at John Hancock Investments, I'd like to take this opportunity to thank you for the continued trust you've placed in us.

Sincerely,

Andrew G. Arnott
President and Chief Executive Officer
John Hancock Investments

This commentary reflects the CEO's views, which are subject to change at any time. Investing involves risks, including the potential loss of principal. Diversification does not guarantee investment returns and does not eliminate risk of loss. For more up-to-date information, please visit our website at jhinvestments.com.

John Hancock
International Growth Fund

Table of contents

2	Your fund at a glance
4	Discussion of fund performance
8	A look at performance
10	Your expenses
12	Fund's investments
15	Financial statements
19	Financial highlights
28	Notes to financial statements
36	Auditor's report
37	Tax information
38	Trustees and Officers
42	More information

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       1

Your fund at a glance

INVESTMENT OBJECTIVE

The fund seeks high total return primarily through capital appreciation.

AVERAGE ANNUAL TOTAL RETURNS AS OF 2/28/17 (%)

The MSCI AC World ex-USA Growth Index (gross of foreign withholding tax on dividends) is a free float-adjusted market capitalization index that is designed to measure the equity performance of growth-oriented stocks in developed (excluding the U.S.) and emerging markets.

The MSCI EAFE Index (gross of foreign withholding tax on dividends) is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada.

It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.

Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower.

The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       2

PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS

Economic improvement supported equities

Most developed-market stocks outside the United States posted strong gains as economic conditions improved in key markets.

The fund underperformed on a relative basis

The fund underperformed its benchmark, the MSCI AC World ex-USA Growth Index, largely as a result of a negative impact from stock selection in the healthcare and consumer discretionary sectors.

An overweight in information technology was a positive factor

The fund's overweight in the information technology sector contributed to relative performance.

SECTOR COMPOSITION AS OF 2/28/17 (%)

A note about risks

Foreign investing, especially in emerging markets, has additional risks, such as currency and market volatility and political and social instability. Growth stocks may be subject to greater price fluctuations because their prices tend to place greater emphasis on earnings expectations. The value of a company's equity securities is subject to changes in the company's financial condition and overall market and economic conditions. Hedging, derivatives, and other strategic transactions may increase a fund's volatility and could produce disproportionate losses, potentially more than the fund's principal investment. Actively trading securities can increase transaction costs (thus lowering performance) and taxable distributions. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. Please see the fund's prospectus for additional risks.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       3

Discussion of fund performance

An interview with Portfolio Manager John A. Boselli, CFA, Wellington Management Company LLP

John A. Boselli, CFA
Portfolio Manager
Wellington Management Company LLP

Can you describe the market environment during the 12-month period and the factors that drove the more than 15% return for the fund's benchmark, the MSCI AC World ex-USA Growth Index?

Most stocks outside the United States posted strong gains in the double digits in percentage terms. It was an eventful 12 months, characterized by volatile oil prices, the United Kingdom's approval of a referendum to exit the European Union (Brexit), and Chinese policymakers' efforts to stem a slowdown in the country's economic growth rate.

Despite the potential negative impact of these events, there were many positive catalysts for equities, including continued monetary policy accommodation by major central banks. Moves by the United Kingdom and other key non-U.S. markets to implement fresh rounds of fiscal stimulus contributed to a shift in investor sentiment favoring cyclical stocks and sectors—those most sensitive to changes in economic trends. This trend gained further momentum following Donald Trump's victory in the U.S. presidential election in November.

These developments came amid a positive momentum shift in the indicators that we monitor to recognize potential turning points in global macroeconomic cycles. While these indicators consistently pointed to low growth entering 2016, they began to shift in mid-2016, and this incremental improvement exhibited staying power in the latter half of the 12-month period. The changes were accompanied by partial recoveries from a steep decline in the prices of oil and other commodities.

How did this environment affect your security selection during the period?

When evaluating stocks during this transition to a higher-growth-oriented environment, we gradually adjusted stock selection to place more weight on growth and valuation characteristics, while placing somewhat less emphasis on the quality and total return characteristics that had dominated earlier in the period. This shift resulted in some material changes in sector weights during the period, including a reduction in the fund's healthcare weighting and increases in its weightings in information technology and financials.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       4

"The market's shift toward cyclical sectors and lower-quality stocks weighed on relative performance, as the trend did not favor many of the fund's high-quality growth holdings ..."

Although its overall return was positive, the fund underperformed relative to its benchmark. What key factors had the most significant impact on this result?

The market's shift toward cyclical sectors and lower-quality stocks weighed on relative performance, as the trend did not favor many of the fund's high-quality growth holdings. Such holdings included stocks that generate substantial free cash flows, maintain strong balance sheets, and return cash to shareholders in the form of dividend payments and share repurchases.

Overall, our security selection detracted from relative performance. Sector allocations, a by-product of our bottom-up approach to managing the fund, contributed to relative performance, partially offsetting the negative impact from stock picking. Our weakest selection was in the healthcare and consumer discretionary sectors. An underweight in materials also had a negative impact, as the sector outperformed, and our stock picking in financials and materials detracted. On the positive side, an overweight in information technology was a contributor, as the sector was the top performer in the benchmark. Our stock picking in industrials also added relative value.

At the geographic level, our stock selection in the United Kingdom and the fund's overweight U.K. exposure weighed on relative performance; our stock picking in Japan was also a negative. On the positive side, relative performance was aided by our stock picking in China and Taiwan, along with the fund's overweights in both countries.

TOP 10 HOLDINGS AS OF 2/28/17 (%)

Taiwan Semiconductor Manufacturing Company, Ltd.	3.3
Tencent Holdings, Ltd.	3.1
British American Tobacco PLC	3.1
Samsung Electronics Company, Ltd.	2.9
Alibaba Group Holding, Ltd., ADR	2.8
Unilever NV	2.7
AIA Group, Ltd.	1.8
Largan Precision Company, Ltd.	1.8
Broadcom, Ltd.	1.7
Experian PLC	1.7
TOTAL	24.9
As a percentage of net assets.
Cash and cash equivalents are not included.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       5

"At the geographic level, our stock selection in the United Kingdom and the fund's overweight U.K. exposure weighed on relative performance; our stock picking in Japan was also a negative."

Which equity positions had the biggest negative impact on the fund's performance?

The fund's positions in ProSiebenSat.1 Media SE, a German operator of European commercial television stations and other media operations, and Persimmon PLC, a U.K.-based homebuilder, were the top detractors. Both stocks were hurt by the Brexit referendum, as investors worried that a potential economic slowdown broadly affecting the United Kingdom and Europe would weigh on European media operations and the U.K. housing market. We sold both positions during the period.

A position in Japan-based Ono Pharmaceutical Company, Ltd. also had a negative impact, as the stock came under pressure after Japanese regulators announced plans to review pricing for groundbreaking, high-priced drugs in great demand, starting with Opdivo, a drug that Ono Pharmaceutical codeveloped and that was approved in the United States to treat melanoma and lung cancer. We sold the position during the period, as pricing pressures decreased our outlook for Ono's earnings and revenue growth. Positions in pharmaceutical company Allergan PLC and payment processing company Worldpay Group PLC also detracted.

Which positions had the biggest positive impact on the fund's relative results?

The top contributor was a position in Taiwan-based Largan Precision Company, Ltd., a maker of lenses used in smartphone cameras and other applications. The company's shares outperformed as

TOP 10 COUNTRIES AS OF 2/28/17 (%)

United Kingdom	18.0
China	10.2
Japan	9.6
Switzerland	6.1
France	6.0
Ireland	5.8
India	5.1
Taiwan	5.1
United States	4.9
South Korea	4.2
TOTAL	75.0
As a percentage of net assets.
Cash and cash equivalents are not included.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       6

Largan posted strong results, supporting investor confidence in positive trends surrounding the growing use of dual cameras in smartphones, starting with Apple's latest iPhone. Largan ranks highly among peers as a stock with high-quality characteristics, with strong free cash flow margins, a good growth trajectory driven by multi-year product cycles, and attractive upside to our estimate of its fair value.

Other positions that contributed significantly to relative performance were Broadcom, Ltd., a developer of semiconductor technologies, New Oriental Education & Technology Group, Inc., a provider of private education in China, Partners Group Holding AG (Switzerland), a private markets investment manager, and AAC Technologies Holdings, Inc., a designer and manufacturer of acoustic components found in electronic devices.

How was the fund positioned at the end of the period?

From a sector standpoint, our bottom-up stock selection process resulted in the fund's overweights in information technology and financials. The most significant underweights were in consumer staples, healthcare, energy, and materials.

From a geographic perspective, the fund ended the period most overweight in emerging markets, particularly China, Taiwan, and India, where we saw the potential for strong economic growth. The fund remained underweight in Japan, where regulatory and demographic issues continued to constrain growth. In Europe, the fund was overweight in the United Kingdom and underweight in Germany, Switzerland, and Sweden.

MANAGED BY

  John A. Boselli, CFA
On the fund since 2014
Investing since 1996

The views expressed in this report are exclusively those of John A. Boselli, CFA, Wellington Management Company LLP, and are subject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       7

A look at performance

TOTAL RETURNS FOR THE PERIOD ENDED FEBRUARY 28, 2017 

Average annual total returns (%) with maximum sales charge				Cumulative total returns (%) with maximum sales charge
	1-year	5-year	10-year		5-year	10-year
Class A	4.13	6.96	2.82		39.97	32.06
Class B	3.88	6.95	2.58		39.96	28.96
Class C	7.85	7.27	2.57		42.02	28.88
Class I1	9.96	8.42	3.74		49.78	44.43
Class R21,2	9.54	8.00	3.32		46.95	38.66
Class R41,2	9.81	8.11	3.37		47.67	39.34
Class R61,2	10.08	8.24	3.44		48.59	40.21
Class 11	10.04	8.50	3.80		50.36	45.20
Class NAV1,2	10.10	8.21	3.42		48.39	40.01
Index 1†	15.09	4.45	2.36		24.33	26.32
Index 2†	16.31	5.63	1.50		31.53	16.11

Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5%, and the applicable contingent deferred sales charge (CDSC) on Class B and Class C shares. The Class B shares' CDSC declines annually between years 1 to 6 according to the following schedule: 5%, 4%, 3%, 3%, 2%, and 1%. No sales charge will be assessed after the sixth year. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R2, Class R4, Class R6, Class 1, and Class NAV shares.

The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

	Class A	Class B	Class C	Class I	Class R2	Class R4	Class R6	Class 1	Class NAV
Gross (%)	1.37	2.07	2.07	1.05	1.46	1.31	0.96	0.99	0.94
Net (%)	1.35	2.05	2.05	1.05	1.45	1.20	0.94	0.99	0.94

Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.

The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.

The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.

† Index 1 is the MSCI AC World ex-USA Growth Index; Index 2 is the MSCI EAFE Index.

See the following page for footnotes.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       8

This chart and table show what happened to a hypothetical $10,000 investment in John Hancock International Growth Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in two separate indexes.

	Start date	With maximum sales charge ($)	Without sales charge ($)	Index 1 ($)	Index 2 ($)
Class B3	2-28-07	12,896	12,896	12,632	11,611
Class C3	2-28-07	12,888	12,888	12,632	11,611
Class I1	2-28-07	14,443	14,443	12,632	11,611
Class R21,2	2-28-07	13,866	13,866	12,632	11,611
Class R41,2	2-28-07	13,934	13,934	12,632	11,611
Class R61,2	2-28-07	14,021	14,021	12,632	11,611
Class 11	2-28-07	14,520	14,520	12,632	11,611
Class NAV1,2	2-28-07	14,001	14,001	12,632	11,611

The MSCI AC World ex-USA Growth Index (gross of foreign withholding tax on dividends) is a free float-adjusted market capitalization index that is designed to measure the equity performance of growth-oriented stocks in developed (excluding the U.S.) and emerging markets.

The MSCI EAFE Index (gross of foreign withholding tax on dividends) is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada.

It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.

Footnotes related to performance pages

1	For certain types of investors, as described in the fund's prospectuses.
2	Class R2, Class R4, and Class R6 shares were first offered on 3-27-15. Class NAV shares were first offered on 6-2-15. The returns prior to these dates are those of Class A shares and may be higher or lower than if adjusted to reflect the expenses of any other share classes.
3	The contingent deferred sales charge is not applicable.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       9

Your expenses

These examples are intended to help you understand your ongoing operating expenses of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds.

Understanding fund expenses

As a shareholder of the fund, you incur two types of costs:

• Transaction costs, which include sales charges (loads) on purchases or redemptions (varies by share class), minimum account fee charge, etc.

• Ongoing operating expenses, including management fees, distribution and service fees (if applicable), and other fund expenses.

We are presenting only your ongoing operating expenses here.

Actual expenses/actual returns

The first line of each share class in the table on the following page is intended to provide information about the fund's actual ongoing operating expenses, and is based on the fund's actual return. It assumes an account value of $1,000.00 on September 1, 2016, with the same investment held until February 28, 2017.

Together with the value of your account, you may use this information to estimate the operating expenses that you paid over the period. Simply divide your account value at February 28, 2017, by $1,000.00, then multiply it by the "expenses paid" for your share class from the table. For example, for an account value of $8,600.00, the operating expenses should be calculated as follows:

Hypothetical example for comparison purposes

The second line of each share class in the table on the following page allows you to compare the fund's ongoing operating expenses with those of any other fund. It provides an example of the fund's hypothetical account values and hypothetical expenses based on each class's actual expense ratio and an assumed 5% annualized return before expenses (which is not the fund's actual return). It assumes an account value of $1,000.00 on September 1, 2016, with the same investment held until February 28, 2017. Look in any other fund shareholder report to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Remember, these examples do not include any transaction costs, therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the prospectuses for details regarding transaction costs.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       10

SHAREHOLDER EXPENSE EXAMPLE CHART

		Account value on 9-1-2016	Ending value on 2-28-2017	Expenses paid during period ended 2-28-20171	Annualized expense ratio
Class A	Actual expenses/actual returns	$1,000.00	$994.80	$6.48	1.31%
	Hypothetical example for comparison purposes	1,000.00	1,018.30	6.56	1.31%
Class B	Actual expenses/actual returns	1,000.00	991.20	9.92	2.01%
	Hypothetical example for comparison purposes	1,000.00	1,014.80	10.04	2.01%
Class C	Actual expenses/actual returns	1,000.00	991.20	9.97	2.02%
	Hypothetical example for comparison purposes	1,000.00	1,014.80	10.09	2.02%
Class I	Actual expenses/actual returns	1,000.00	996.20	5.00	1.01%
	Hypothetical example for comparison purposes	1,000.00	1,019.80	5.06	1.01%
Class R2	Actual expenses/actual returns	1,000.00	994.10	7.02	1.42%
	Hypothetical example for comparison purposes	1,000.00	1,017.80	7.10	1.42%
Class R4	Actual expenses/actual returns	1,000.00	995.70	5.69	1.15%
	Hypothetical example for comparison purposes	1,000.00	1,019.10	5.76	1.15%
Class R6	Actual expenses/actual returns	1,000.00	996.80	4.41	0.89%
	Hypothetical example for comparison purposes	1,000.00	1,020.40	4.46	0.89%
Class 1	Actual expenses/actual returns	1,000.00	996.40	4.65	0.94%
	Hypothetical example for comparison purposes	1,000.00	1,020.10	4.71	0.94%
Class NAV	Actual expenses/actual returns	1,000.00	996.90	4.56	0.92%
	Hypothetical example for comparison purposes	1,000.00	1,020.20	4.61	0.92%

1 Expenses are equal to the fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       11

Fund's investments

As of 2-28-17
	Shares	Value
Common stocks 96.4%		$3,762,327,878
(Cost $3,470,985,633)
Australia 2.5%		97,411,479
Amcor, Ltd.	3,713,787	39,972,345
BHP Billiton PLC	3,563,680	57,439,134
Belgium 1.3%		49,669,635
UCB SA	697,938	49,669,635
Canada 3.6%		140,745,428
Canadian Imperial Bank of Commerce	576,450	50,609,723
Magna International, Inc.	878,305	37,553,788
The Bank of Nova Scotia	906,533	52,581,917
China 10.2%		397,429,627
AAC Technologies Holdings, Inc.	6,081,587	63,978,308
Alibaba Group Holding, Ltd., ADR (I)	1,069,208	110,021,503
NetEase, Inc., ADR	197,965	60,391,203
New Oriental Education & Technology Group, Inc., ADR (I)	873,410	42,281,778
Tencent Holdings, Ltd.	4,550,514	120,756,835
Denmark 3.0%		116,109,681
DSV A/S	1,271,534	62,520,105
Pandora A/S	470,803	53,589,576
France 6.0%		234,033,313
AXA SA	1,494,372	35,294,122
BNP Paribas SA	858,665	50,240,905
Edenred	2,283,400	51,690,043
Legrand SA	794,204	44,843,916
Sodexo SA (L)	473,496	51,964,327
Germany 2.2%		88,054,408
Merck KGaA	411,229	44,896,262
United Internet AG	1,048,468	43,158,146
Hong Kong 2.9%		113,202,626
AIA Group, Ltd.	11,222,571	70,836,279
Guangdong Investment, Ltd.	31,098,002	42,366,347
India 5.1%		198,782,686
HDFC Bank, Ltd.	2,169,343	46,788,043
ICICI Bank, Ltd.	10,000,134	41,237,430
Maruti Suzuki India, Ltd.	691,228	61,329,853
UPL, Ltd.	4,611,468	49,427,360

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       12

	Shares	Value
Indonesia 2.6%		$101,354,608
Bank Central Asia Tbk PT	39,306,867	45,459,728
Telekomunikasi Indonesia Persero Tbk PT	194,680,851	55,894,880
Ireland 5.8%		226,079,158
Accenture PLC, Class A	316,501	38,771,373
Experian PLC	3,409,637	67,544,873
ICON PLC (I)	759,794	63,647,943
Medtronic PLC	693,548	56,114,969
Japan 9.6%		376,335,042
Bandai Namco Holdings, Inc.	1,427,240	41,113,201
Daito Trust Construction Company, Ltd.	285,290	39,911,527
KDDI Corp.	2,368,154	61,885,837
Keyence Corp.	156,208	60,402,769
NTT DOCOMO, Inc.	2,176,277	51,703,876
Recruit Holdings Company, Ltd.	1,296,155	63,613,078
SMC Corp.	203,890	57,704,754
Netherlands 1.5%		58,483,486
Koninklijke Ahold Delhaize NV	2,747,365	58,483,486
Norway 1.3%		49,234,011
DNB ASA	3,002,882	49,234,011
South Korea 4.2%		165,173,173
NAVER Corp.	74,905	51,355,302
Samsung Electronics Company, Ltd.	66,974	113,817,871
Spain 1.5%		60,127,006
Industria de Diseno Textil SA	1,876,277	60,127,006
Switzerland 6.1%		238,363,844
Julius Baer Group, Ltd. (I)	1,112,656	54,417,476
Partners Group Holding AG	125,506	65,653,676
Temenos Group AG	770,712	59,608,358
Zurich Insurance Group AG	212,645	58,684,334
Taiwan 5.1%		197,436,670
Largan Precision Company, Ltd.	464,712	68,969,284
Taiwan Semiconductor Manufacturing Company, Ltd.	20,969,008	128,467,386
United Kingdom 18.0%		702,908,477
BAE Systems PLC	7,543,587	59,055,254
British American Tobacco PLC	1,896,288	119,778,051
Compass Group PLC	3,482,528	64,698,222
IHS Markit, Ltd. (I)	1,084,041	43,144,832
Just Eat PLC (I)	7,706,983	47,799,019
Reckitt Benckiser Group PLC	740,815	67,265,678

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       13

			Shares	Value
United Kingdom  (continued)
Rio Tinto PLC			1,114,061	$45,661,070
Spectris PLC			1,268,270	38,218,322
UBM PLC			6,373,687	58,969,653
Unilever NV			2,258,493	106,912,846
Worldpay Group PLC (S)			15,267,540	51,405,530
United States 3.9%				151,393,520
Allergan PLC			163,832	40,109,350
Broadcom, Ltd.			322,589	68,043,697
Eaton Corp. PLC			600,729	43,240,473
Preferred securities 1.3%				$50,171,855
(Cost $51,878,850)
Brazil 1.3%				50,171,855
Itau Unibanco Holding SA			3,917,900	50,171,855
	Yield (%)		Shares	Value
Securities lending collateral 1.0%				$39,937,407
(Cost $39,935,034)
John Hancock Collateral Trust (W)	0.8372(Y	)	3,990,907	39,937,407
Total investments (Cost $3,562,799,517)† 98.7%				$3,852,437,140
Other assets and liabilities, net 1.3%				$49,303,249
Total net assets 100.0%				$3,901,740,389

The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR	American Depositary Receipts
(I)	Non-income producing security.
(L)	A portion of this security is on loan as of 2-28-17.
(S)	These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(W)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
(Y)	The rate shown is the annualized seven-day yield as of 2-28-17.
†	At 2-28-17, the aggregate cost of investment securities for federal income tax purposes was $3,571,764,794. Net unrealized appreciation aggregated to $280,672,346, of which $333,822,937 related to appreciated investment securities and $53,150,591 related to depreciated investment securities.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       14

Financial statements

STATEMENT OF ASSETS AND LIABILITIES 2-28-17

Assets
Unaffiliated investments, at value (Cost $3,522,864,483) including $38,033,523 of securities loaned	$3,812,499,733
Affiliated investments, at value (Cost $39,935,034)	39,937,407
Total investments, at value (Cost $3,562,799,517)	3,852,437,140
Cash	65,384,685
Foreign currency, at value (Cost $13,018,372)	13,018,384
Receivable for investments sold	250,590
Receivable for fund shares sold	28,421,371
Dividends and interest receivable	6,851,860
Receivable for securities lending income	91,162
Other receivables and prepaid expenses	131,530
Total assets	3,966,586,722
Liabilities
Foreign capital gains tax payable	1,113,570
Payable for investments purchased	18,370,029
Payable for fund shares repurchased	4,545,473
Payable upon return of securities loaned	39,937,705
Payable to affiliates
Accounting and legal services fees	116,830
Transfer agent fees	256,039
Distribution and service fees	4,982
Trustees' fees	904
Other liabilities and accrued expenses	500,801
Total liabilities	64,846,333
Net assets	$3,901,740,389
Net assets consist of
Paid-in capital	$3,853,223,056
Accumulated distributions in excess of net investment income	(1,461,881	)
Accumulated net realized gain (loss) on investments and foreign currency transactions	(238,545,282	)
Net unrealized appreciation (depreciation) on investments and translation of assets and liabilities in foreign currencies	288,524,496
Net assets	$3,901,740,389

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       15

STATEMENT OF ASSETS AND LIABILITIES (continued)

Net asset value per share
Based on net asset values and shares outstanding - The fund has an unlimited number of shares authorized with no par value
Class A ($426,683,809 ÷ 19,675,317 shares)1	$21.69
Class B ($1,508,521 ÷ 70,325 shares)1	$21.45
Class C ($145,090,949 ÷ 6,778,892 shares)1	$21.40
Class I ($2,379,826,110 ÷ 109,571,859 shares)	$21.72
Class R2 ($11,997,226 ÷ 552,678 shares)	$21.71
Class R4 ($4,804,074 ÷ 221,190 shares)	$21.72
Class R6 ($18,043,888 ÷ 830,298 shares)	$21.73
Class 1 ($49,916,564 ÷ 2,299,297 shares)	$21.71
Class NAV ($863,869,248 ÷ 39,795,499 shares)	$21.71
Maximum offering price per share
Class A (net assets value per share ÷ 95%)2	$22.83

1	Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
2	On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       16

STATEMENT OF OPERATIONS   For the year ended 2-28-17

Investment income
Dividends	$58,297,153
Securities lending	381,097
Less foreign taxes withheld	(4,539,884	)
Total investment income	54,138,366
Expenses
Investment management fees	22,565,283
Distribution and service fees	3,555,283
Accounting and legal services fees	400,817
Transfer agent fees	2,918,042
Trustees' fees	39,378
State registration fees	288,329
Printing and postage	246,921
Professional fees	200,564
Custodian fees	851,935
Other	35,589
Total expenses	31,102,141
Less expense reductions	(214,579	)
Net expenses	30,887,562
Net investment income	23,250,804
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	(148,417,326	)
Affiliated investments	4,885
	(148,412,441	)
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	353,312,920
Affiliated investments	1,166
	353,314,086
Net realized and unrealized gain	204,901,645
Increase in net assets from operations	$228,152,449

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       17

STATEMENTS OF CHANGES IN NET ASSETS 

	Year ended 2-28-17		Year ended 2-29-16
Increase (decrease) in net assets
From operations
Net investment income	$23,250,804		$7,154,431
Net realized loss	(148,412,441	)	(90,878,974	)
Change in net unrealized appreciation (depreciation)	353,314,086		(85,973,533	)
Increase (decrease) in net assets resulting from operations	228,152,449		(169,698,076	)
Distributions to shareholders
From net investment income
Class A	(4,015,960	)	(818,693	)
Class I	(16,927,587	)	(4,166,349	)
Class R2	(51,219	)	—
Class R4	(21,812	)	(3,401	)
Class R6	(402,651	)	(8,167	)
Class 1	(457,163	)	(188,512	)
Class NAV	(2,999,617	)	(514,934	)
Total distributions	(24,876,009	)	(5,700,056	)
From fund share transactions	1,668,056,731		1,878,340,204
Total increase	1,871,333,171		1,702,942,072
Net assets
Beginning of year	2,030,407,218		327,465,146
End of year	$3,901,740,389		$2,030,407,218
Undistributed (accumulated distributions in excess of) net investment income	($1,461,881	)	$1,301,675

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       18

Financial highlights

Class A Shares Period ended		2-28-17		2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period		$19.90		$21.64		$24.60		$21.28		$19.98
Net investment income1		0.17		0.10		0.24		0.25		0.23
Net realized and unrealized gain (loss) on investments		1.75		(1.81	)	0.83		3.94		2.65
Total from investment operations		1.92		(1.71	)	1.07		4.19		2.88
Less distributions
From net investment income		(0.13	)	(0.03	)	(0.47	)	(0.15	)	(0.42	)
From net realized gain		—		—		(3.56	)	(0.72	)	(1.16	)
Total distributions		(0.13	)	(0.03	)	(4.03	)	(0.87	)	(1.58	)
Net asset value, end of period		$21.69		$19.90		$21.64		$24.60		$21.28
Total return (%)2,3		9.62		(7.86	)	5.91		19.95		14.82
Ratios and supplemental data
Net assets, end of period (in millions)		$427		$615		$140		$130		$73
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.32		1.38		1.53		1.56		1.68
	Expenses including reductions	1.32		1.37		1.52		1.55		1.60
	Net investment income	0.79		0.48		1.02		1.09		1.13
Portfolio turnover (%)		94		82		204		42		61

1	Based on average daily shares outstanding.
2	Does not reflect the effect of sales charges, if any.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       19

Class B Shares Period ended		2-28-17	2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period		$19.70	$21.55		$24.50		$21.22		$19.94
Net investment income1		0.04	0.02		—	2	0.10		0.10
Net realized and unrealized gain (loss) on investments		1.71	(1.87	)	0.88		3.90		2.62
Total from investment operations		1.75	(1.85	)	0.88		4.00		2.72
Less distributions
From net investment income		—	—		(0.27	)	—		(0.28	)
From net realized gain		—	—		(3.56	)	(0.72	)	(1.16	)
Total distributions		—	—		(3.83	)	(0.72	)	(1.44	)
Net asset value, end of period		$21.45	$19.70		$21.55		$24.50		$21.22
Total return (%)3,4		8.88	(8.58	)	5.07		19.07		14.00
Ratios and supplemental data
Net assets, end of period (in millions)		$2	$2		$2		$2		$1
Ratios (as a percentage of average net assets):
	Expenses before reductions	2.03	2.32		3.18		3.29		3.92
	Expenses including reductions	2.02	2.12		2.34		2.30		2.30
	Net investment income	0.19	0.07		—	5	0.46		0.47
Portfolio turnover (%)		94	82		204		42		61

1	Based on average daily shares outstanding.
2	Less than $0.005 per share.
3	Does not reflect the effect of sales charges, if any.
4	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5	Less than 0.005%.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       20

Class C Shares Period ended		2-28-17	2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period		$19.66	$21.49		$24.45		$21.18		$19.91
Net investment income (loss)1		0.01	(0.07	)	(0.03	)	0.07		0.10
Net realized and unrealized gain (loss) on investments		1.73	(1.76	)	0.92		3.92		2.61
Total from investment operations		1.74	(1.83	)	0.89		3.99		2.71
Less distributions
From net investment income		—	—		(0.29	)	—		(0.28	)
From net realized gain		—	—		(3.56	)	(0.72	)	(1.16	)
Total distributions		—	—		(3.85	)	(0.72	)	(1.44	)
Net asset value, end of period		$21.40	$19.66		$21.49		$24.45		$21.18
Total return (%)2,3		8.85	(8.52	)	5.11		19.05		13.97
Ratios and supplemental data
Net assets, end of period (in millions)		$145	$113		$13		$7		$2
Ratios (as a percentage of average net assets):
	Expenses before reductions	2.03	2.08		2.40		2.62		3.32
	Expenses including reductions	2.02	2.07		2.30		2.30		2.30
	Net investment income (loss)	0.03	(0.33	)	(0.11	)	0.32		0.48
Portfolio turnover (%)		94	82		204		42		61

1	Based on average daily shares outstanding.
2	Does not reflect the effect of sales charges, if any.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       21

Class I Shares Period ended		2-28-17		2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period		$19.94		$21.67		$24.62		$21.31		$20.01
Net investment income1		0.20		0.16		0.35		0.31		0.43
Net realized and unrealized gain (loss) on investments		1.77		(1.80	)	0.81		3.95		2.53
Total from investment operations		1.97		(1.64	)	1.16		4.26		2.96
Less distributions
From net investment income		(0.19	)	(0.09	)	(0.55	)	(0.23	)	(0.50	)
From net realized gain		—		—		(3.56	)	(0.72	)	(1.16	)
Total distributions		(0.19	)	(0.09	)	(4.11	)	(0.95	)	(1.66	)
Net asset value, end of period		$21.72		$19.94		$21.67		$24.62		$21.31
Total return (%)2		9.96		(7.59	)	6.33		20.31		15.23
Ratios and supplemental data
Net assets, end of period (in millions)		$2,380		$1,168		$152		$290		$79
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.02		1.06		1.19		1.21		1.27
	Expenses including reductions	1.01		1.06		1.18		1.21		1.25
	Net investment income	0.94		0.73		1.46		1.33		2.09
Portfolio turnover (%)		94		82		204		42		61

1	Based on average daily shares outstanding.
2	Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       22

Class R2 Shares Period ended		2-28-17		2-29-16	1
Per share operating performance
Net asset value, beginning of period		$19.92		$21.46
Net investment income (loss)2		(0.02	)	0.02
Net realized and unrealized gain (loss) on investments		1.91		(1.56	)
Total from investment operations		1.89		(1.54	)
Less distributions
From net investment income		(0.10	)	—
Total distributions		(0.10	)	—
Net asset value, end of period		$21.71		$19.92
Total return (%)3		9.54		(7.18	) 4
Ratios and supplemental data
Net assets, end of period (in millions)		$12		$1
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.42		1.90	5
	Expenses including reductions	1.42		1.52	5
	Net investment income (loss)	(0.08	)	0.11	5
Portfolio turnover (%)		94		82	6

1	The inception date for Class R2 shares is 3-27-15.
2	Based on average daily shares outstanding.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4	Not annualized.
5	Annualized.
6	The portfolio turnover is shown for the period from 3-1-15 to 2-29-16.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       23

Class R4 Shares Period ended		2-28-17		2-29-16	1
Per share operating performance
Net asset value, beginning of period		$19.94		$21.46
Net investment income2		0.19		0.05
Net realized and unrealized gain (loss) on investments		1.75		(1.54	)
Total from investment operations		1.94		(1.49	)
Less distributions
From net investment income		(0.16	)	(0.03	)
Total distributions		(0.16	)	(0.03	)
Net asset value, end of period		$21.72		$19.94
Total return (%)3		9.81		(6.95	) 4
Ratios and supplemental data
Net assets, end of period (in millions)		$5		$3
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.25		1.66	5
	Expenses including reductions	1.14		1.24	5
	Net investment income	0.88		0.24	5
Portfolio turnover (%)		94		82	6

1	The inception date for Class R4 shares is 3-27-15.
2	Based on average daily shares outstanding.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4	Not annualized.
5	Annualized.
6	The portfolio turnover is shown for the period from 3-1-15 to 2-29-16.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       24

Class R6 Shares Period ended		2-28-17		2-29-16	1
Per share operating performance
Net asset value, beginning of period		$19.95		$21.46
Net investment income2		0.20		0.12
Net realized and unrealized gain (loss) on investments		1.79		(1.53	)
Total from investment operations		1.99		(1.41	)
Less distributions
From net investment income		(0.21	)	(0.10	)
Total distributions		(0.21	)	(0.10	)
Net asset value, end of period		$21.73		$19.95
Total return (%)3		10.08		(6.59	) 4
Ratios and supplemental data
Net assets, end of period (in millions)		$18		$2
Ratios (as a percentage of average net assets):
	Expenses before reductions	0.93		1.37	5
	Expenses including reductions	0.90		0.95	5
	Net investment income	0.95		0.60	5
Portfolio turnover (%)		94		82	6

1	The inception date for Class R6 shares is 3-27-15.
2	Based on average daily shares outstanding.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4	Not annualized.
5	Annualized.
6	The portfolio turnover is shown for the period from 3-1-15 to 2-29-16.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       25

Class 1 Shares Period ended	2-28-17		2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period	$19.93		$21.65		$24.61		$21.30		$20.00
Net investment income1	0.23		0.23		0.28		0.37		0.34
Net realized and unrealized gain (loss) on investments	1.76		(1.84	)	0.90		3.92		2.63
Total from investment operations	1.99		(1.61	)	1.18		4.29		2.97
Less distributions
From net investment income	(0.21	)	(0.11	)	(0.58	)	(0.26	)	(0.51	)
From net realized gain	—		—		(3.56	)	(0.72	)	(1.16	)
Total distributions	(0.21	)	(0.11	)	(4.14	)	(0.98	)	(1.67	)
Net asset value, end of period	$21.71		$19.93		$21.65		$24.61		$21.30
Total return (%)2	10.04		(7.49	)	6.39		20.43		15.29
Ratios and supplemental data
Net assets, end of period (in millions)	$50		$39		$20		$16		$11
Ratios (as a percentage of average net assets):
Expenses before reductions	0.95		1.00		1.10		1.12		1.19
Expenses including reductions	0.94		0.99		1.09		1.12		1.15
Net investment income	1.09		1.06		1.18		1.59		1.68
Portfolio turnover (%)	94		82		204		42		61

1	Based on average daily shares outstanding.
2	Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       26

Class NAV Shares Period ended		2-28-17		2-29-16	1
Per share operating performance
Net asset value, beginning of period		$19.93		$22.66
Net investment income2		0.19		0.11
Net realized and unrealized gain (loss) on investments		1.81		(2.72	)
Total from investment operations		2.00		(2.61	)
Less distributions
From net investment income		(0.22	)	(0.12	)
Total distributions		(0.22	)	(0.12	)
Net asset value, end of period		$21.71		$19.93
Total return (%)3		10.10		(11.57	) 4
Ratios and supplemental data
Net assets, end of period (in millions)		$864		$86
Ratios (as a percentage of average net assets):
	Expenses before reductions	0.91		0.94	5
	Expenses including reductions	0.90		0.93	5
	Net investment income	0.91		0.69	5
Portfolio turnover (%)		94		82	6

1	The inception date for Class NAV shares is 6-2-15.
2	Based on average daily shares outstanding.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4	Not annualized.
5	Annualized.
6	The portfolio turnover is shown for the period from 3-1-15 to 2-29-16.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       27

Notes to financial statements

Note 1 — Organization

John Hancock International Growth Fund (the fund) is a series of John Hancock Funds III (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek high total return primarily through capital appreciation.

The fund may offer multiple classes of shares. The shares currently offered are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class B shares are closed to new investors. Class I shares are offered to institutions and certain investors. Class R2 and Class R4 shares are available only to certain retirement plans. Class R6 shares are available only to certain retirement plans, institutions and other investors. Class 1 shares are offered only to certain affiliates of Manulife Financial Corporation (MFC). Class NAV shares are offered to John Hancock affiliated funds and certain 529 plans. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ. Class B shares convert to Class A shares eight years after purchase.

Note 2 — Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 p.m., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the fund's Valuation Policies and Procedures.

In order to value the securities, the fund uses the following valuation techniques: Equity securities held by the fund are typically valued at the last sale price or official closing price on the exchange or principal market where the security was acquired or most likely will be sold. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the fund in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rates supplied by an independent pricing vendor.

In certain instances, the Pricing Committee may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the fund's Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the fund's Pricing Committee, following procedures established by the Board of Trustees. The fund uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       28

includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the fund's own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the fund's investments as of February 28, 2017, by major security category or type:

		Total value at 2-28-17	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Common stocks
	Australia	$97,411,479	—	$97,411,479	—
	Belgium	49,669,635	—	49,669,635	—
	Canada	140,745,428	$140,745,428	—	—
	China	397,429,627	212,694,484	184,735,143	—
	Denmark	116,109,681	—	116,109,681	—
	France	234,033,313	—	234,033,313	—
	Germany	88,054,408	—	88,054,408	—
	Hong Kong	113,202,626	—	113,202,626	—
	India	198,782,686	—	198,782,686	—
	Indonesia	101,354,608	—	101,354,608	—
	Ireland	226,079,158	158,534,285	67,544,873	—
	Japan	376,335,042	—	376,335,042	—
	Netherlands	58,483,486	—	58,483,486	—
	Norway	49,234,011	—	49,234,011	—
	South Korea	165,173,173	—	165,173,173	—
	Spain	60,127,006	—	60,127,006	—
	Switzerland	238,363,844	—	238,363,844	—
	Taiwan	197,436,670	—	197,436,670	—
	United Kingdom	702,908,477	43,144,832	659,763,645	—
	United States	151,393,520	151,393,520	—	—
Preferred securities		50,171,855	—	50,171,855	—
Securities lending collateral		39,937,407	39,937,407	—	—
Total investments in securities		$3,852,437,140	$746,449,956	$3,105,987,184	—

Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Dividend income is recorded on the ex-date, except for dividends of foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Foreign taxes are provided for based on the fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.

Securities lending. The fund may lend its securities to earn additional income. The fund receives cash collateral from the borrower in an amount not less than the market value of the loaned securities. The fund will invest its collateral in John

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       29

Hancock Collateral Trust (JHCT), an affiliate of the fund which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT invests cash received as collateral as part of the securities lending program in short-term money market investments. The fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.

The fund has the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the fund for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.

Although the risk of the loss of the securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the fund could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. The fund receives compensation for lending its securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the fund is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statement of operations.

Obligations to repay collateral received by the fund are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. As of February 28, 2017, the fund loaned common stocks valued at $38,033,523 and received $39,937,705 of cash collateral.

Foreign currency translation. Assets, including investments and liabilities denominated in foreign currencies, are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments.

Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors. Foreign investments are also subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.

Foreign taxes. The fund may be subject to withholding tax on income and/or capital gains or repatriation taxes imposed by certain countries in which the fund invests. Taxes are accrued based upon investment income, realized gains or unrealized appreciation.

Line of credit. The fund may borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund's custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.

Effective June 30, 2016, the fund and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the need of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on a combination of fixed and asset based allocations and is reflected in Other expenses on the Statement of operations. Prior to June 30, 2016, the fund had a similar agreement that enabled it to participate in a $750 million unsecured committed line of credit. For the year ended February 28, 2017, the fund had no borrowings under either line of credit. Commitment fees for the year ended February 28, 2017 were $8,470.

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Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are calculated daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.

Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.

For federal income tax purposes, as of February 28, 2017, the fund has a short-term capital loss carryforward of $205,495,812 and a long-term capital loss carryforward of $24,084,193 available to offset future net realized capital gains. These carryforwards do not expire. Qualified late year ordinary losses of $1,478,769 are being deferred and are treated as occurring on March 1, 2017, the first day of the fund's next taxable year.

As of February 28, 2017, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund's federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund typically declares and pays dividends and capital gain distributions, if any, at least annually. The tax character of distributions for the years ended February 28, 2017 and February 29, 2016 was as follows:

	February 28, 2017	February 29, 2016
Ordinary income	$24,876,009	$5,700,056

Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class.

Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund's financial statements as a return of capital.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. The fund had no material book-tax differences at February 28, 2017.

Note 3 — Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.

Note 4 — Fees and transactions with affiliates

John Hancock Advisers, LLC (the Advisor) serves as investment advisor for the fund. John Hancock Funds, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, wholly owned subsidiaries of Manulife Financial Corporation.

Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor, equivalent on an annual basis to the sum of (a) 0.900% of the first $500 million of the

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       31

fund's aggregate average daily net assets (together with the assets of any other applicable fund identified in the advisory agreement); (b) 0.850% of the next $500 million of the fund's aggregate average daily net assets, and (c) 0.800% of the fund's aggregate average daily net assets in excess of $1 billion. The Advisor has a subadvisory agreement with Wellington Management Company LLP. The fund is not responsible for payment of the subadvisory fees.

The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the year ended February 28, 2017, this waiver amounted to 0.01% of the fund's average net assets. This arrangement may be amended or terminated at any time by the Advisor upon notice to the fund and with the approval of the Board of Trustees.

The Advisor has contractually agreed to waive fees and/or reimburse certain expenses for each share class of the fund. This agreement excludes taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund's business, acquired fees and expenses paid indirectly and short dividend expense. The fee waivers and/or reimbursements are such that these expenses will not exceed 1.35%, 2.05%, 2.05%, 1.05%, 1.45%, and 1.20% of average net assets for Class A, Class B, Class C, Class I, Class R2, and Class R4, respectively. The current expense limitation agreement will remain in effect through June 30, 2017, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at the time. Prior to June 30, 2016, Class 1 shares had fee waivers and/or reimbursements such that the expenses would not exceed 1.15% of average net assets.

The Advisor has contractually agreed to waive and/or reimburse all class specific expenses for Class R6 shares of the fund to the extent they exceed 0.00% of average annual net assets, on an annualized basis. The expense limitation expires on June 30, 2017, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at the time.

The expense reductions described above amounted to the following for the year ended February 28, 2017:

Class	Expense reductions	Class	Expense reductions
Class A	$51,582	Class R4	$234
Class B	133	Class R6	8,280
Class C	10,627	Class 1	3,420
Class I	124,606	Class NAV	12,185
Class R2	406	Total	$211,473

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended February 28, 2017, were equivalent to a net annual effective rate of 0.82% of the fund's average daily net assets.

Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred for the year ended February 28, 2017 amounted to an annual rate of 0.01% of the fund's average daily net assets.

Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans with respect to Class A, Class B, Class C, Class R2, Class R4 and Class 1 shares pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. In addition, under a service plan for Class R2 and Class R4 shares, the fund pays for certain other services. The fund may pay up to the

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       32

following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund's shares:

Class	Rule 12b-1 fee	Service fee
Class A	0.30%	—
Class B	1.00%	—
Class C	1.00%	—
Class R2	0.25%	0.25%
Class R4	0.25%	0.10%
Class 1	0.05%	—

The fund's Distributor has contractually agreed to waive 0.10% of Rule 12b-1 fees for Class R4 shares. The current waiver agreement expires on June 30, 2017, unless renewed by mutual agreement of the fund and the Distributor based upon a determination that this is appropriate under the circumstances at the time. This contractual waiver amounted to $3,106 for Class R4 shares for the year ended February 28, 2017.

Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $1,662,202 for the year ended February 28, 2017. Of this amount, $279,738 was retained and used for printing prospectuses, advertising, sales literature and other purposes, $1,379,150 was paid as sales commissions to broker-dealers and $3,314 was paid as sales commissions to sales personnel of Signator Investors, Inc., a broker-dealer affiliate of the Advisor.

Class A, Class B and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares that are acquired through purchases of $1 million or more and are redeemed within one year of purchase are subject to a 1.00% sales charge. Class B shares that are redeemed within six years of purchase are subject to CDSCs, at declining rates, beginning at 5.00%. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended February 28, 2017 CDSCs received by the Distributor amounted to $2,374, $3,402 and $56,551 for Class A, Class B and Class C shares, respectively.

Transfer agent fees. The fund has a transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to five categories of share classes: Retail Share and Institutional Share Classes of Non-Municipal Bond Funds, Class R6 Shares, Retirement Share Classes and Municipal Bond Share Classes. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.

Class level expenses. Class level expenses for the year ended February 28, 2017 were:

Class	Distribution and service fees	Transfer agent fees
Class A	$2,065,697	$862,719
Class B	17,794	2,236
Class C	1,412,140	176,673
Class I	—	1,869,385
Class R2	26,688	845
Class R4	10,251	517
Class R6	—	5,667
Class 1	22,713	—
Total	$3,555,283	$2,918,042

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Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each fund based on its net assets relative to other funds within the John Hancock group of funds complex.

Note 5 — Fund share transactions

Transactions in fund shares for the years ended February 28, 2017 and February 29, 2016 were as follows:

		Year ended 2-28-17					Year ended 2-29-16
	Shares			Amount		Shares			Amount
Class A shares
Sold	16,001,157			$339,897,058		30,296,417			$652,123,320
Distributions reinvested	196,175			3,966,659		37,422			806,063
Repurchased	(27,443,668		)	(587,270,568	)	(5,892,970		)	(123,829,522	)
Net increase (decrease)	(11,246,336		)	($243,406,851	)	24,440,869			$529,099,861
Class B shares
Sold	6,462			$132,615		43,893			$950,453
Repurchased	(37,113		)	(782,533	)	(23,186		)	(489,433	)
Net increase (decrease)	(30,651		)	($649,918	)	20,707			$461,020
Class C shares
Sold	3,157,986			$66,136,615		5,682,409			$121,374,986
Repurchased	(2,147,869		)	(44,798,519	)	(535,075		)	(11,149,899	)
Net increase	1,010,117			$21,338,096		5,147,334			$110,225,087
Class I shares
Sold	90,657,790			$1,938,510,713		65,900,813			$1,417,620,775
Distributions reinvested	704,235			14,253,717		160,677			3,464,207
Repurchased	(40,391,991		)	(855,244,453	)	(14,492,634		)	(309,958,268	)
Net increase	50,970,034			$1,097,519,977		51,568,856			$1,111,126,714
Class R2 shares1
Sold	562,895			$12,363,392		67,764			$1,480,916
Distributions reinvested	2,087			42,253		—			—
Repurchased	(76,255		)	(1,618,262	)	(3,813		)	(81,033	)
Net increase	488,727			$10,787,383		63,951			$1,399,883
Class R4 shares1
Sold	121,641			$2,513,391		152,395			$3,282,916
Distributions reinvested	1,077			21,812		151			3,252
Repurchased	(39,004		)	(826,106	)	(15,070		)	(313,187	)
Net increase	83,714			$1,709,097		137,476			$2,972,981
Class R6 shares1
Sold	2,241,015			$47,393,271		123,984			$2,660,310
Distributions reinvested	19,894			402,651		356			7,688
Repurchased	(1,553,248		)	(33,698,306	)	(1,703		)	(34,471	)
Net increase	707,661			$14,097,616		122,637			$2,633,527

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		Year ended 2-28-17					Year ended 2-29-16
	Shares			Amount		Shares			Amount
Class 1 shares
Sold	677,086			$14,407,914		1,191,160			$25,899,826
Distributions reinvested	22,598			457,163		8,748			188,512
Repurchased	(345,698		)	(7,385,847	)	(168,568		)	(3,618,687	)
Net increase	353,986			$7,479,230		1,031,340			$22,469,651
Class NAV shares2
Sold	36,007,828			$770,657,902		4,844,041			$109,195,857
Distributions reinvested	148,349			2,999,617		23,895			514,934
Repurchased	(672,404		)	(14,475,418	)	(556,210		)	(11,759,311	)
Net increase	35,483,773			$759,182,101		4,311,726			$97,951,480
Total net increase	77,821,025			$1,668,056,731		86,844,896			$1,878,340,204

1The inception date for Class R2, Class R4 and Class R6 shares is 3-27-15.

2The inception date for Class NAV shares is 6-2-15.

Affiliates of the fund owned 100% of shares of the fund of Class 1 and Class NAV on February 28, 2017. Such concentration of shareholders' capital could have a material effect on the fund if such shareholders redeem from the fund.

Note 6 — Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to $4,167,729,706 and $2,523,199,721, respectively, for the year ended February 28, 2017.

Note 7 — Industry or sector risk

The fund may invest a large percentage of its assets in one or more particular industries or sectors of the economy. If a large percentage of the fund's assets are economically tied to a single or small number of industries or sectors of the economy, the fund will be less diversified than a more broadly diversified fund, and it may cause the fund to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the fund's NAV more volatile. Further, a fund that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors.

Note 8 — Investment by affiliated funds

Certain investors in the fund are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the fund for the purpose of exercising management or control; however, this investment may represent a significant portion of the fund's net assets. At February 28, 2017, funds within the John Hancock group of funds complex held 19.6% of the fund's net assets. The following affiliated fund owned 5% or more of the fund's net assets: John Hancock Funds II Multimanager Lifestyle Growth Portfolio - 5.5%.

Note 9 — New rule issuance

In October 2016, the SEC issued Final Rule Release No.33-10231, Investment Company Reporting Modernization (the Release). The Release calls for the adoption of new rules and forms as well as amendments to its rules and forms to modernize the reporting and disclosure of information by registered investment companies. The SEC is adopting amendments to Regulation S-X, which will require standardized, enhanced disclosure about derivatives in investment company financial statements, as well as other amendments. The updates to Regulation S-X are effective August 1, 2017 and may result in additional disclosure relating to the presentation of derivatives and certain other financial instruments.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       35

AUDITOR'S REPORT

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of John Hancock Funds III and Shareholders of John Hancock International Growth Fund:

In our opinion, the accompanying statement of assets and liabilities, including the fund's investments, and the related statements of operations, of changes in net assets, and the financial highlights present fairly, in all material respects, the financial position of the John Hancock International Growth Fund (the "Fund") as of February 28, 2017, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and the financial highlights for each of the periods presented, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities as of February 28, 2017 by correspondence with the custodian, transfer agents, and the application of alternative auditing procedures where securities purchased confirmations had not been received, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

Boston, Massachusetts

April 12, 2017

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       36

TAX INFORMATION

Unaudited

For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended February 28, 2017.

The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.

The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.

Income derived from foreign sources was $52,871,692. The fund intends to pass through foreign tax credits of $3,757,360.

Eligible shareholders will be mailed a 2017 Form 1099-DIV in early 2018. This will reflect the tax character of all distributions paid in calendar year 2017.

Please consult a tax advisor regarding the tax consequences of your investment in the fund.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       37

Trustees and Officers

This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.

Independent Trustees

Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since1	Number of John Hancock funds overseen by Trustee
Hassell H. McClellan, Born: 1945	2012	229
Trustee and Chairperson of the Board Director/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2014) and Chairperson of the Board (since 2017), John Hancock Collateral Trust; Trustee (since 2015) and Chairperson of the Board (since 2017), John Hancock Exchange-Traded Fund Trust; Trustee (since 2012) and Chairperson of the Board (since 2017), John Hancock retail funds3; Trustee (2005-2006 and since 2012) and Chairperson of the Board (since 2017), John Hancock Funds III; Trustee (since 2005) and Chairperson of the Board (since 2017), John Hancock Variable Insurance Trust and John Hancock Funds II.

Charles L. Bardelis,2 Born: 1941	2012	229
Trustee Director, Island Commuter Corp. (marine transport). Trustee, John Hancock Collateral Trust (since 2014), Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (since 2012); Trustee, John Hancock Funds III (2005-2006 and since 2012); Trustee, John Hancock Variable Insurance Trust (since 1988); Trustee, John Hancock Funds II (since 2005).

Peter S. Burgess,2 Born: 1942	2012	229
Trustee Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since 2004); Director, Symetra Financial Corporation (2010-2016); Director, PMA Capital Corporation (2004-2010). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (since 2012); Trustee, John Hancock Funds III (2005-2006 and since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2005).

William H. Cunningham, Born: 1944	2006	229
Trustee Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009-2014). Trustee, John Hancock retail funds3 (since 1986); Trustee, John Hancock Variable Insurance Trust (since 2012); Trustee, John Hancock Funds II (2005-2006 and since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

Grace K. Fey, Born: 1946	2012	229
Trustee Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988-2007); Director, Fiduciary Trust (since 2009). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2008).

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       38

Independent Trustees (continued)

Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since1	Number of John Hancock funds overseen by Trustee
Theron S. Hoffman,2 Born: 1947	2012	229
Trustee Chief Executive Officer, T. Hoffman Associates, LLC (consulting firm) (since 2003); Director, The Todd Organization (consulting firm) (2003-2010); President, Westport Resources Management (investment management consulting firm) (2006-2008); Senior Managing Director, Partner, and Operating Head, Putnam Investments (2000-2003); Executive Vice President, The Thomson Corp. (financial and legal information publishing) (1997-2000). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2008).

Deborah C. Jackson, Born: 1952	2008	229
Trustee President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, National Association of Corporate Directors/New England (since 2015); Board of Directors, Association of Independent Colleges and Universities of Massachusetts, (since 2014); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002-2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of American Student Assistance Corporation (1996-2009); Board of Directors of Boston Stock Exchange (2002-2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007-2011). Trustee, John Hancock retail funds3 (since 2008); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); and Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

James M. Oates, Born: 1946	2012	229
Trustee Managing Director, Wydown Group (financial consulting firm) (since 1994); Chairman and Director, Emerson Investment Management, Inc. (2000-2015); Independent Chairman, Hudson Castle Group, Inc. (formerly IBEX Capital Markets, Inc.) (financial services company) (1997-2011); Director, Stifel Financial (since 1996); Director, Investor Financial Services Corporation (1995-2007); Director, Connecticut River Bancorp (1998-2014); Director/Trustee, Virtus Funds (since 1988). Trustee (since 2014) and Chairperson of the Board (2014-2016), John Hancock Collateral Trust; Trustee (since 2015) and Chairperson of the Board (2015-2016), John Hancock Exchange-Traded Fund Trust; Trustee (since 2012) and Chairperson of the Board (2012-2016), John Hancock retail funds3; Trustee (2005-2006 and since 2012) and Chairperson of the Board (2012-2016), John Hancock Funds III; Trustee (since 2004) and Chairperson of the Board (since 2005-2016), John Hancock Variable Insurance Trust; Trustee (since 2005) and Chairperson of the Board, John Hancock Funds II (2005-2016).

Steven R. Pruchansky, Born: 1944	2006	229
Trustee and Vice Chairperson of the Board Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (since 2000); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (since 2014); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992) and Chairperson of the Board (2011-2012), John Hancock retail funds3; Trustee and Vice Chairperson of the Board, John Hancock retail funds3 John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2012); Trustee and Vice Chairperson of the Board, John Hancock Collateral Trust (since 2014); Trustee and Vice Chairperson of the Board, John Hancock Exchange-Traded Fund Trust (since 2015).

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       39

Independent Trustees (continued)

Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since1	Number of John Hancock funds overseen by Trustee
Gregory A. Russo, Born: 1949	2008	229
Trustee Director and Audit Committee Chairman (since 2012), and Member, Audit Committee and Finance Committee (since 2011), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (since 2012) and Finance Committee Chairman (since 2014), The Moorings, Inc. (nonprofit continuing care community); Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002-2006); Vice Chairman, Industrial Markets, KPMG (1998-2002); Chairman and Treasurer, Westchester County, New York, Chamber of Commerce (1986-1992); Director, Treasurer, and Chairman of Audit and Finance Committees, Putnam Hospital Center (1989-1995); Director and Chairman of Fundraising Campaign, United Way of Westchester and Putnam Counties, New York (1990-1995). Trustee, John Hancock retail funds3 (since 2008); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

Non-Independent Trustees⁴

Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since1	Number of John Hancock funds overseen by Trustee
James R. Boyle, Born: 1959	2015	229
Non-Independent Trustee Chairman and Chief Executive Officer, Zillion Group, Inc. (formerly HealthFleet, Inc.) (healthcare) (since 2014); Executive Vice President and Chief Executive Officer, U.S. Life Insurance Division of Genworth Financial, Inc. (insurance) (January 2014-July 2014); Senior Executive Vice President, Manulife Financial Corporation, President and Chief Executive Officer, John Hancock (1999-2012); Chairman and Director, John Hancock Advisers, LLC, John Hancock Funds, LLC, and John Hancock Investment Management Services, LLC (2005-2010). Trustee, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (2005-2010; 2012-2014 and since 2015); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (2005-2014 and since 2015).

Craig Bromley, Born: 1966	2012	229
Non-Independent Trustee President, John Hancock Financial Service (since 2012); Senior Executive Vice President and General Manager, U.S. Division, Manulife Financial Corporation (since 2012); President and Chief Executive Officer, Manulife Insurance Company (Manulife Japan) (2005-2012, including prior positions). Trustee, John Hancock retail funds,3 John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

Warren A. Thomson, Born: 1955	2012	229
Non-Independent Trustee Senior Executive Vice President and Chief Investment Officer, Manulife Financial Corporation and The Manufacturers Life Insurance Company (since 2009); Chairman, Manulife Asset Management (since 2001, including prior positions); Director and Chairman, Manulife Asset Management Limited (since 2006); Director and Chairman, Hancock Natural Resources Group, Inc. (since 2013). Trustee, John Hancock retail funds,3 John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       40

Principal officers who are not Trustees

Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years	Officer of the Trust since
Andrew G. Arnott, Born: 1971	2009
President Senior Vice President, John Hancock Financial Services (since 2009); Director and Executive Vice President, John Hancock Advisers, LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Investment Management Services, LLC (since 2006, including prior positions); President, John Hancock Funds, LLC (since 2004, including prior positions); President, John Hancock retail funds,3 John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2007, including prior positions); President, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

John J. Danello, Born: 1955

2014

Senior Vice President, Secretary, and Chief Legal Officer Vice President and Chief Counsel, John Hancock Wealth Management (since 2005); Senior Vice President (since 2007) and Chief Legal Counsel (2007-2010), John Hancock Funds, LLC and The Berkeley Financial Group, LLC; Senior Vice President (since 2006, including prior positions) and Chief Legal Officer and Secretary (since 2014), John Hancock retail funds,3 John Hancock Funds II and John Hancock Variable Insurance Trust; Senior Vice President, Secretary and Chief Legal Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014); Vice President, John Hancock Life & Health Insurance Company (since 2009); Vice President, John Hancock Life Insurance Company (USA) and John Hancock Life Insurance Company of New York (since 2010); and Senior Vice President, Secretary and Chief Legal Counsel (2007-2014, including prior positions) of John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC.

Francis V. Knox, Jr., Born: 1947

2006

Chief Compliance Officer Vice President, John Hancock Financial Services (since 2005); Chief Compliance Officer, John Hancock retail funds,3 John Hancock Variable Insurance Trust, John Hancock Funds II, John Hancock Advisers, LLC, and John Hancock Investment Management Services, LLC (since 2005); Chief Compliance Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

Charles A. Rizzo, Born: 1957

2007

Chief Financial Officer Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC (since 2008); Chief Financial Officer, John Hancock retail funds,3 John Hancock Variable Insurance Trust and John Hancock Funds II (since 2007); Chief Financial Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

Salvatore Schiavone, Born: 1965

2010

Treasurer Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC (since 2007); Treasurer, John Hancock retail funds3 (since 2007, including prior positions); Treasurer, John Hancock Variable Insurance Trust and John Hancock Funds II (2007-2009 and since 2010, including prior positions); Treasurer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

The business address for all Trustees and Officers is 601 Congress Street, Boston, Massachusetts 02210-2805.

The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-225-5291.

1	Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee's death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table.
2	Member of the Audit Committee.
3	"John Hancock retail funds" comprises John Hancock Funds III and 40 other John Hancock funds consisting of 30 series of other John Hancock trusts and 10 closed-end funds.
4	The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates.

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       41

More information

Trustees
Hassell H. McClellan, Chairperson^#
Steven R. Pruchansky, Vice Chairperson
Charles L. Bardelis*
James R. Boyle†
Craig Bromley†
Peter S. Burgess*
William H. Cunningham
Grace K. Fey
Theron S. Hoffman*
Deborah C. Jackson
James M. Oates
Gregory A. Russo
Warren A. Thomson†
Officers
Andrew G. Arnott
President
John J. Danello
Senior Vice President, Secretary,
and Chief Legal Officer
Francis V. Knox, Jr.
Chief Compliance Officer
Charles A. Rizzo
Chief Financial Officer
Salvatore Schiavone
Treasurer
Investment advisor
John Hancock Advisers, LLC
Subadvisor
Wellington Management Company LLP
Principal distributor
John Hancock Funds, LLC
Custodian
Citibank. N.A.
Transfer agent
John Hancock Signature Services, Inc.
Legal counsel
K&L Gates LLP
Independent registered public accounting firm
PricewaterhouseCoopers LLP

*Member of the Audit Committee
†Non-Independent Trustee
^#Effective 1-1-17

The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.

The fund's complete list of portfolio holdings, for the first and third fiscal quarters, is filed with the SEC on Form N-Q. The fund's Form N-Q is available on our website and the SEC's website, sec.gov, and can be reviewed and copied (for a fee) at the SEC's Public Reference Room in Washington, DC. Call 800-SEC-0330 to receive information on the operation of the SEC's Public Reference Room.

We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.

You can also contact us:
800-225-5291 jhinvestments.com	Regular mail: John Hancock Signature Services, Inc. P.O. Box 55913 Boston, MA 02205-5913	Express mail: John Hancock Signature Services, Inc. Suite 55913 30 Dan Road Canton, MA 02021

ANNUAL REPORT   |   JOHN HANCOCK INTERNATIONAL GROWTH FUND       42

John Hancock family of funds

DOMESTIC EQUITY FUNDS

Balanced
Blue Chip Growth
Classic Value
Disciplined Value
Disciplined Value Mid Cap
Equity Income
Fundamental All Cap Core
Fundamental Large Cap Core
Fundamental Large Cap Value
New Opportunities
Small Cap Value
Small Company
Strategic Growth
U.S. Global Leaders Growth
U.S. Growth
Value Equity
GLOBAL AND INTERNATIONAL EQUITY FUNDS

Disciplined Value International
Emerging Markets
Emerging Markets Equity
Fundamental Global Franchise
Global Equity
Global Shareholder Yield
Greater China Opportunities
International Growth
International Small Company
International Value Equity
INCOME FUNDS

Bond
California Tax-Free Income
Emerging Markets Debt
Floating Rate Income
Global Income
Government Income
High Yield
High Yield Municipal Bond
Income
Investment Grade Bond
Money Market
Short Duration Credit Opportunities
Spectrum Income
Strategic Income Opportunities
Tax-Free Bond
ALTERNATIVE AND SPECIALTY FUNDS

Absolute Return Currency
Alternative Asset Allocation
Enduring Assets
Financial Industries
Global Absolute Return Strategies
Global Conservative Absolute Return
Global Focused Strategies
Global Real Estate
Natural Resources
Redwood
Regional Bank
Seaport
Technical Opportunities

A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investments at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.

ASSET ALLOCATION

Income Allocation Fund
Multi-Index Lifetime Portfolios
Multi-Index Preservation Portfolios
Multimanager Lifestyle Portfolios
Multimanager Lifetime Portfolios
EXCHANGE-TRADED FUNDS

John Hancock Multifactor Consumer Discretionary ETF
John Hancock Multifactor Consumer Staples ETF
John Hancock Multifactor Developed International ETF
John Hancock Multifactor Energy ETF
John Hancock Multifactor Financials ETF
John Hancock Multifactor Healthcare ETF
John Hancock Multifactor Industrials ETF
John Hancock Multifactor Large Cap ETF
John Hancock Multifactor Materials ETF
John Hancock Multifactor Mid Cap ETF
John Hancock Multifactor Technology ETF
John Hancock Multifactor Utilities ETF
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE FUNDS

ESG All Cap Core
ESG Core Bond
ESG International Equity
ESG Large Cap Core
CLOSED-END FUNDS

Financial Opportunities
Hedged Equity & Income
Income Securities Trust
Investors Trust
Preferred Income
Preferred Income II
Preferred Income III
Premium Dividend
Tax-Advantaged Dividend Income
Tax-Advantaged Global Shareholder Yield

John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.

John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Funds, LLC or Dimensional Fund Advisors LP.

Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.

John Hancock Investments

A trusted brand

John Hancock Investments is a premier asset manager representing one of
America's most trusted brands, with a heritage of financial stewardship dating
back to 1862. Helping our shareholders pursue their financial goals is at the
core of everything we do. It's why we support the role of professional financial
advice and operate with the highest standards of conduct and integrity.

A better way to invest

We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising standards
and serve the best interests of our shareholders.

Results for investors

Our unique approach to asset management enables us to provide a diverse set
of investments backed by some of the world's best managers, along with strong
risk-adjusted returns across asset classes.

 

	John Hancock Funds, LLC n Member FINRA, SIPC 601 Congress Street n Boston, MA 02210-2805 800-225-5291 n jhinvestments.com
	This report is for the information of the shareholders of John Hancock International Growth Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
	MF355085	87A 2/17 4/17

John Hancock

Global Shareholder Yield Fund

Annual report 2/28/17

A message to shareholders

Dear shareholder,

After several episodes of volatility in the first half of 2016, international equity indexes exhibited mostly positive momentum in recent months as economic trends improved overseas, especially in Europe. Despite an initial pullback following the November 2016 election of U.S. President Donald Trump, most international stocks rallied in January and February 2017, following closely on the heels of U.S. equity indexes' postelection gains.

Yet there are still challenges at hand. Of note, several European countries will hold elections this year that may ultimately determine the fate of the European Union. Coupled with the near certainty of additional interest-rate increases here in the United States, advisors and investors are rightly concerned about the potential for lackluster fixed-income markets in the coming months; although equity markets may be supported by positive company dynamics.

Since the end of the reporting period, the failure of the Trump administration to replace the Affordable Care Act, among other missteps, has been somewhat beneficial for bonds and somewhat problematic for equities. One of your best resources for dealing with market uncertainty is your financial advisor, who can help ensure your portfolio is sufficiently diversified to meet your long-term objectives and to withstand the inevitable bumps along the way.  

On behalf of everyone at John Hancock Investments, I'd like to take this opportunity to thank you for the continued trust you've placed in us.

Sincerely,

Andrew G. Arnott
President and Chief Executive Officer
John Hancock Investments

This commentary reflects the CEO's views, which are subject to change at any time. Investing involves risks, including the potential loss of principal. Diversification does not guarantee investment returns and does not eliminate risk of loss. For more up-to-date information, please visit our website at jhinvestments.com.

John Hancock
Global Shareholder Yield Fund

Table of contents

2	Your fund at a glance
4	Discussion of fund performance
8	A look at performance
10	Your expenses
12	Fund's investments
16	Financial statements
20	Financial highlights
27	Notes to financial statements
35	Auditor's report
36	Tax information
37	Trustees and Officers
41	More information

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       1

Your fund at a glance

INVESTMENT OBJECTIVE

The fund seeks to provide a high level of income as its primary objective. Capital appreciation is a secondary investment objective.

AVERAGE ANNUAL TOTAL RETURNS AS OF 2/28/17 (%)

The MSCI World Index (gross of foreign withholding tax on dividends) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.

It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.

Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower.

The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       2

PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS

Global equities rallied

Global equity markets posted double-digit gains in percentage terms as increased economic stimulus measures, improvement in the U.S. economy, and a transition in U.S. political leadership provided catalysts for robust stock market gains.

The fund underperformed its benchmark

The fund posted a positive overall return, but it trailed the performance of its benchmark, the MSCI World Index, by a wide margin primarily due to sector allocations.

Overweights in selected sectors weighed on relative performance

The fund's overweights in the telecommunication services and utilities sectors detracted from performance, as they both underperformed.

SECTOR COMPOSITION AS OF 2/28/17 (%)

A note about risks

Foreign investing, especially in emerging markets, has additional risks, such as currency and market volatility and political and social instability. Liquidity—the extent to which a security may be sold or a derivative position closed without negatively affecting its market value—may be impaired by reduced trading volume, heightened volatility, rising interest rates, and other market conditions. Investments in higher-yielding, lower-rated securities include a higher risk of default. The value of a company's equity securities is subject to changes in the company's financial condition and overall market and economic conditions. Actively trading securities can increase transaction costs (thus lowering performance) and taxable distributions. Hedging, derivatives, and other strategic transactions may increase a fund's volatility and could produce disproportionate losses, potentially more than the fund's principal investment. Fund distributions generally depend on income from underlying investments and may vary or cease altogether in the future. Please see the fund's prospectus for additional risks.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       3

Discussion of fund performance

An interview with Portfolio Manager Eric L. Sappenfield, Epoch Investment Partners, Inc.

Eric L. Sappenfield
Portfolio Manager
Epoch Investment Partners, Inc.

Can you describe the market environment during the 12 months ended February 28, 2017 and the factors that drove the nearly 22% return for the fund's benchmark, the MSCI World Index?

Global stocks posted strong gains during an eventful 12-month period. Several themes influenced markets to varying degrees: volatile oil prices, an economic slowdown in China, and the United Kingdom's approval of a referendum to exit the European Union (Brexit). In the United States, modest economic improvement, incrementally tighter monetary policy, and an unexpected outcome in the presidential election were notable factors.

Partial recoveries from a steep decline in the prices of oil and other commodities provided a positive catalyst for global stocks. During the early months of the period, worries about the slowdown in China's growth and its impact on global commodities weighed on stocks. These concerns eased somewhat, and accommodative monetary policies from the U.S. Federal Reserve (Fed) and the European Central Bank provided support for strong equity market gains leading up to Brexit in June. The referendum's outcome resulted in a brief episode of volatility and relative outperformance by stocks with high-quality characteristics.

Subsequent moves by the United Kingdom and other key non-U.S. markets to implement fresh rounds of fiscal stimulus contributed to a shift in investor sentiment favoring cyclical stocks and sectors—those most sensitive to changes in economic trends. The U.S. presidential election victory of Donald Trump in November fueled rising optimism about U.S. economic growth, tied to expectations that his administration would reduce tax rates, ease regulations, and boost infrastructure spending. The Fed increased interest rates in December in response to positive economic momentum and approved another rate hike in mid-March, following the end of the period.

How did this environment affect fund performance?

Although the fund generated a double-digit return on an absolute basis, performance trailed the benchmark by a wide margin. This underperformance was primarily a result of the fund's allocations at the sector level, which were an outcome of our fundamental, bottom-up investment process. Much of the fund's underperformance came in the latter months of the period, when investor

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       4

"Much of the fund's underperformance came in the latter months of the period, when investor sentiment shifted toward cyclical and lower-quality stocks."

sentiment shifted toward cyclical and lower-quality stocks. Generally, these stocks do not possess the characteristics that our strategy emphasizes, such as consistent growth of free cash flow (revenue available to distribute to shareholders or reinvest after current capital expenditures and tax obligations have been met), strong fundamentals, and solid business models.

Another factor that had a negative impact on relative performance was the renewed concern among U.S. investors about prospects for higher interest rates. This factor weighed on the fund's traditional yield-oriented exposures, such as its overweight in utilities and telecommunication services; these sectors are more rate sensitive than others and underperformed.

Despite the fund's relative underperformance, holdings continued to capture returns from cash dividends generated by a diversified portfolio of high-quality companies, while also benefiting from share buybacks and debt reduction efforts.

At the sector level, what had the most significant impact on relative performance?

The fund's overweights in telecommunication services and utilities were the most significant detractors, as these sectors underperformed. An underweight in financials also had a negative impact, as the sector outperformed amid expectations of rising interest rates. Our stock selection in financials also weighed on relative results.

On the positive side, the fund's sector positioning in healthcare and consumer discretionary had a positive impact, as did stock selection in consumer staples.

TOP 10 HOLDINGS AS OF 2/28/17 (%)

Welltower, Inc.	1.8
PPL Corp.	1.8
Philip Morris International, Inc.	1.7
Vodafone Group PLC	1.7
Reynolds American, Inc.	1.6
BCE, Inc.	1.6
AT&T, Inc.	1.6
Verizon Communications, Inc.	1.6
National Grid PLC	1.6
Muenchener Rueckversicherungs-Gesellschaft AG	1.6
TOTAL	16.6
As a percentage of net assets.
Cash and cash equivalents are not included.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       5

"It remains to be seen how the actual Brexit process will play out, and the rise of populist parties in key European countries presents challenges on the policy front."

What were the key drivers of relative performance at the individual security level?

The position that had the most significant negative impact was U.S.-based CoreCivic, Inc., which changed its name during the period from Corrections Corp. of America as part of a rebranding initiative. The firm is a real estate investment trust that owns and operates privatized correctional and detention facilities. Its shares fell as the U.S. Department of Justice announced its intention to reduce, and eventually eliminate, the use of private prison facilities. We sold the fund's position during the period as our confidence in the sustainability of CoreCivic's dividend waned. Following our exit, CoreCivic announced a dividend reduction.

Other positions that significantly weighed on relative performance were U.K.-based mobile communications provider Vodafone Group PLC, hard disk drive manufacturer Seagate Technology PLC, and two Italian utility firms, Snam SpA and Terna Rete Elettrica Nazionale SpA. We sold the fund's position in Seagate during the period as the visibility into its near-term cash generation significantly diminished.

The position that had the most positive impact on relative performance was Iron Mountain, Inc., a U.S.-based document management and storage company. The company completed its acquisition of competitor Recall Holdings, Ltd., which we believe will boost cash generation and support an increase in the pace of free cash flow growth.

Other positions that significantly contributed were tobacco companies Reynolds American, Inc. and

TOP 10 COUNTRIES AS OF 2/28/17 (%)

United States	46.4
United Kingdom	13.6
Germany	9.4
France	6.8
Canada	4.8
Switzerland	4.3
Australia	3.4
Norway	2.1
Italy	1.9
Netherlands	1.3
TOTAL	94.0
As a percentage of net assets.
Cash and cash equivalents are not included.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       6

Philip Morris International, Inc., German technology services provider Siemens AG, and specialized semiconductor manufacturer Microchip Technology, Inc.

How did the fund's positioning change during the period, and how did this reflect on your outlook for global equities at the end of the period?

In our ongoing efforts to improve the fund's shareholder yield, we added nine new positions during the period and eliminated eight holdings. We believe companies that have the ability to generate cash flow and allocate that cash effectively will continue to provide attractive returns, even in this environment characterized by political uncertainty, and our outlook remains positive for cash returns to shareholders including dividends, as well as buybacks.

Although we remained moderately constructive on the outlook for U.S. equities at the end of the period, we expect that delivering significant tax reform, deregulation, and infrastructure spending is likely to prove more challenging than optimists envision. The Trump administration has indicated that it may pursue certain protectionist trade policies. We believe that the market continues to pay insufficient attention to the ramifications of such policies. In addition, we foresee many events across Europe that could cause concern. It remains to be seen how the actual Brexit process will play out, and the rise of populist parties in key European countries presents challenges on the policy front.

MANAGED BY

	Eric L. Sappenfield On the fund since inception Investing since 1986
	William W. Priest, CFA On the fund since inception Investing since 1965
	John Tobin, Ph.D., CFA On the fund since 2014 Investing since 1981
	Kera Van Valen, CFA On the fund since 2014 Investing since 2001
	Michael A. Welhoelter, CFA On the fund since inception Investing since 1986

The views expressed in this report are exclusively those of Eric L. Sappenfield, Epoch Investment Partners, Inc., and are subject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       7

A look at performance

TOTAL RETURNS FOR THE PERIOD ENDED FEBRUARY 28, 2017 

Average annual total returns (%) with maximum sales charge						Cumulative total returns (%) with maximum sales charge				SEC 30-day yield (%) subsidized	SEC 30-day yield (%) unsubsidized1
	1-year	5-year	10-year	Since inception		5-year	10-year	Since inception		as of 2-28-17	as of 2-28-17
Class A	6.60	6.53	4.51	—		37.20	55.41	—		2.23	2.22
Class B	6.42	6.53	4.30	—		37.20	52.32	—		1.63	1.62
Class C	10.41	6.89	4.32	—		39.52	52.68	—		1.64	1.63
Class I2	12.51	7.99	5.47	—		46.87	70.40	—		2.73	2.72
Class R22,3	12.04	7.51	4.25	—		43.63	51.68	—		2.26	2.26
Class R62,3	12.66	8.08	5.50	—		47.51	70.81	—		2.79	2.78
Class NAV2	12.76	8.13	—	6.23	4	47.80	—	70.53	4	2.79	2.78
Index†	21.97	10.03	4.88	—		61.30	61.08	—		—	—

Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5%, and the applicable contingent deferred sales charge (CDSC) on Class B and Class C shares. The Class B shares' CDSC declines annually between years 1 to 6 according to the following schedule: 5%, 4%, 3%, 3%, 2%, and 1%. No sales charge will be assessed after the sixth year. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R2, Class R6, and Class NAV shares.

The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

	Class A	Class B	Class C	Class I	Class R2	Class R6	Class NAV
Gross (%)	1.29	1.99	1.99	0.97	1.38	0.88	0.86
Net (%)	1.09	1.84	1.84	0.84	1.24	0.74	0.86

Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.

The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.

The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.

† Index is the MSCI World Index.

See the following page for footnotes.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       8

This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Global Shareholder Yield Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the MSCI World Index.

	Start date	With maximum sales charge ($)	Without sales charge ($)	Index ($)
Class B5	3-1-07	15,232	15,232	16,108
Class C5	3-1-07	15,268	15,268	16,108
Class I2	3-1-07	17,040	17,040	16,108
Class R22,3	3-1-07	15,168	15,168	16,108
Class R62,3	3-1-07	17,081	17,081	16,108
Class NAV2	4-28-08	17,053	17,053	15,388

The MSCI World Index (gross of foreign withholding tax on dividends) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.

It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.

Footnotes related to performance pages

1	Unsubsidized yield reflects what the yield would have been without the effect of reimbursements and waivers.
2	For certain types of investors, as described in the fund's prospectuses.
3	Class R2 and Class R6 shares were first offered 3-1-12 and 9-1-11, respectively. The returns prior to these dates are those of Class A shares that have been recalculated to apply the gross fees and expenses of Class R2 and Class R6 shares, as applicable.
4	From 4-28-08.
5	The contingent deferred sales charge is not applicable.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       9

Your expenses

These examples are intended to help you understand your ongoing operating expenses of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds.

Understanding fund expenses

As a shareholder of the fund, you incur two types of costs:

• Transaction costs, which include sales charges (loads) on purchases or redemptions (varies by share class), minimum account fee charge, etc.

• Ongoing operating expenses, including management fees, distribution and service fees (if applicable), and other fund expenses.

We are presenting only your ongoing operating expenses here.

Actual expenses/actual returns

The first line of each share class in the table on the following page is intended to provide information about the fund's actual ongoing operating expenses, and is based on the fund's actual return. It assumes an account value of $1,000.00 on September 1, 2016, with the same investment held until February 28, 2017.

Together with the value of your account, you may use this information to estimate the operating expenses that you paid over the period. Simply divide your account value at February 28, 2017, by $1,000.00, then multiply it by the "expenses paid" for your share class from the table. For example, for an account value of $8,600.00, the operating expenses should be calculated as follows:

Hypothetical example for comparison purposes

The second line of each share class in the table on the following page allows you to compare the fund's ongoing operating expenses with those of any other fund. It provides an example of the fund's hypothetical account values and hypothetical expenses based on each class's actual expense ratio and an assumed 5% annualized return before expenses (which is not the fund's actual return). It assumes an account value of $1,000.00 on September 1, 2016, with the same investment held until February 28, 2017. Look in any other fund shareholder report to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Remember, these examples do not include any transaction costs, therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the prospectuses for details regarding transaction costs.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       10

SHAREHOLDER EXPENSE EXAMPLE CHART

		Account value on 9-1-2016	Ending value on 2-28-2017	Expenses paid during period ended 2-28-20171	Annualized expense ratio
Class A	Actual expenses/actual returns	$1,000.00	$1,028.70	$6.14	1.22%
	Hypothetical example for comparison purposes	1,000.00	1,018.70	6.11	1.22%
Class B	Actual expenses/actual returns	1,000.00	1,025.00	9.69	1.93%
	Hypothetical example for comparison purposes	1,000.00	1,015.20	9.64	1.93%
Class C	Actual expenses/actual returns	1,000.00	1,025.00	9.69	1.93%
	Hypothetical example for comparison purposes	1,000.00	1,015.20	9.64	1.93%
Class I	Actual expenses/actual returns	1,000.00	1,030.20	4.63	0.92%
	Hypothetical example for comparison purposes	1,000.00	1,020.20	4.61	0.92%
Class R2	Actual expenses/actual returns	1,000.00	1,028.10	6.64	1.32%
	Hypothetical example for comparison purposes	1,000.00	1,018.20	6.61	1.32%
Class R6	Actual expenses/actual returns	1,000.00	1,030.80	4.13	0.82%
	Hypothetical example for comparison purposes	1,000.00	1,020.70	4.11	0.82%
Class NAV	Actual expenses/actual returns	1,000.00	1,030.80	4.13	0.82%
	Hypothetical example for comparison purposes	1,000.00	1,020.70	4.11	0.82%

1 Expenses are equal to the fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       11

Fund's investments

As of 2-28-17
	Shares	Value
Common stocks 97.6%		$2,242,988,196
(Cost $1,912,030,723)
Australia 3.4%		77,198,416
Commonwealth Bank of Australia	259,230	16,346,732
Sonic Healthcare, Ltd.	828,090	13,652,943
Telstra Corp., Ltd.	6,593,930	24,354,418
Westpac Banking Corp.	884,559	22,844,323
Canada 4.8%		110,727,651
Agrium, Inc.	144,450	13,953,870
BCE, Inc.	853,170	37,217,791
Rogers Communications, Inc., Class B	626,185	26,288,267
Royal Bank of Canada	240,470	17,467,660
TELUS Corp.	485,554	15,800,063
France 6.8%		157,244,728
AXA SA	914,200	21,591,603
Cie Generale des Etablissements Michelin	166,005	18,691,222
Sanofi	219,785	18,958,241
SCOR SE	455,720	16,474,851
TOTAL SA (L)	670,110	33,435,807
Unibail-Rodamco SE	141,241	32,183,854
Vinci SA	220,670	15,909,150
Germany 9.4%		216,210,021
Allianz SE	144,767	25,213,692
BASF SE	357,855	33,292,656
Daimler AG	366,075	26,594,260
Deutsche Post AG	942,266	32,292,723
Deutsche Telekom AG	1,720,579	29,709,826
Muenchener Rueckversicherungs-Gesellschaft AG	191,110	36,100,147
Siemens AG	253,896	33,006,717
Italy 1.9%		42,385,096
Snam SpA	2,832,200	11,278,224
Terna Rete Elettrica Nazionale SpA	6,718,610	31,106,872
Netherlands 1.3%		30,445,679
Royal Dutch Shell PLC, ADR, Class A	586,735	30,445,679
Norway 2.1%		48,087,197
Orkla ASA	2,171,930	19,093,039
Statoil ASA (L)	1,644,480	28,994,158
Singapore 1.2%		27,742,334
Singapore Exchange, Ltd.	2,361,251	12,625,790

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       12

	Shares	Value
Singapore  (continued)
Singapore Telecommunications, Ltd.	5,382,783	$15,116,544
Spain 0.6%		14,716,933
Gas Natural SDG SA	757,170	14,716,933
Sweden 0.7%		15,882,066
Svenska Handelsbanken AB, A Shares	1,143,857	15,882,066
Switzerland 4.3%		98,610,319
Nestle SA	326,353	24,084,257
Novartis AG	296,449	23,150,269
Roche Holding AG	102,306	24,901,742
Swisscom AG	60,143	26,474,051
Taiwan 1.1%		24,674,998
Taiwan Semiconductor Manufacturing Company, Ltd., ADR	784,080	24,674,998
United Kingdom 13.6%		311,860,321
AstraZeneca PLC, ADR (L)	940,180	27,509,667
BAE Systems PLC	3,739,270	29,273,016
British American Tobacco PLC	518,566	32,754,952
Diageo PLC	591,200	16,668,789
GlaxoSmithKline PLC	1,547,510	31,666,543
Imperial Brands PLC	671,935	31,631,478
National Grid PLC	2,984,770	36,260,043
Sky PLC	1,996,156	24,711,247
SSE PLC	1,041,535	19,899,889
Unilever PLC	478,195	22,686,288
Vodafone Group PLC	15,492,305	38,798,409
United States 46.4%		1,067,202,437
AbbVie, Inc.	386,630	23,909,199
Altria Group, Inc.	477,325	35,761,189
Ameren Corp.	552,585	30,220,874
Arthur J. Gallagher & Company	255,680	14,560,976
AT&T, Inc.	878,140	36,697,471
Automatic Data Processing, Inc.	161,470	16,570,051
BlackRock, Inc.	40,405	15,655,321
CenturyLink, Inc. (L)	532,875	12,927,548
Cisco Systems, Inc.	775,993	26,523,441
CME Group, Inc.	184,800	22,445,808
Dominion Resources, Inc.	224,305	17,415,040
Duke Energy Corp.	405,661	33,487,316
Eaton Corp. PLC	268,200	19,305,036
Emerson Electric Company	303,220	18,223,522
Entergy Corp.	349,430	26,787,304
Enterprise Products Partners LP	836,170	23,437,845

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       13

			Shares	Value
United States  (continued)
Exxon Mobil Corp.			326,580	$26,557,486
Iron Mountain, Inc. (L)			690,815	25,111,126
Johnson & Johnson			132,785	16,227,655
Kimberly-Clark Corp.			182,990	24,255,325
Lockheed Martin Corp.			78,010	20,795,906
McDonald's Corp.			189,444	24,182,527
Merck & Company, Inc.			295,160	19,442,189
Microchip Technology, Inc.			259,253	18,801,028
Microsoft Corp.			270,040	17,277,159
Occidental Petroleum Corp.			414,505	27,170,803
People's United Financial, Inc. (L)			862,187	16,553,990
PepsiCo, Inc.			137,280	15,152,966
Pfizer, Inc.			410,010	13,989,541
Philip Morris International, Inc.			358,945	39,250,636
PPL Corp.			1,109,720	40,926,474
QUALCOMM, Inc.			579,020	32,703,050
Regal Entertainment Group, Class A (L)			814,630	17,579,715
Reynolds American, Inc.			614,486	37,833,903
Texas Instruments, Inc.			253,342	19,411,064
The Coca-Cola Company			305,020	12,798,639
The Dow Chemical Company			402,150	25,037,859
The Procter & Gamble Company			206,295	18,787,286
The Southern Company			369,650	18,785,613
United Parcel Service, Inc., Class B			215,471	22,788,213
Verizon Communications, Inc.			733,894	36,423,159
Waste Management, Inc.			267,360	19,602,835
WEC Energy Group, Inc.			442,650	26,678,516
Wells Fargo & Company			304,119	17,602,408
Welltower, Inc.			590,330	41,547,425
	Yield (%)		Shares	Value
Securities lending collateral 5.6%				$128,435,133
(Cost $128,429,032)
John Hancock Collateral Trust (W)	0.8372(Y	)	12,834,401	128,435,133
Short-term investments 2.0%				$47,025,419
(Cost $47,025,419)
Money market funds 2.0%				47,025,419
Fidelity Institutional Money Market Government Portfolio, Institutional Class	0.4500(Y	)	47,025,419	47,025,419
Total investments (Cost $2,087,485,174)† 105.2%				$2,418,448,748
Other assets and liabilities, net (5.2%)				($119,083,624	)
Total net assets 100.0%				$2,299,365,124

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       14

The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR	American Depositary Receipts
(L)	A portion of this security is on loan as of 2-28-17.
(W)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
(Y)	The rate shown is the annualized seven-day yield as of 2-28-17.
†	At 2-28-17, the aggregate cost of investment securities for federal income tax purposes was $2,085,298,477. Net unrealized appreciation aggregated to $333,150,271, of which $396,198,681 related to appreciated investment securities and $63,048,410 related to depreciated investment securities.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       15

Financial statements

STATEMENT OF ASSETS AND LIABILITIES 2-28-17

Assets
Unaffiliated investments, at value (Cost $1,959,056,142) including $124,014,316 of securities loaned	$2,290,013,615
Affiliated investments, at value (Cost $128,429,032)	128,435,133
Total investments, at value (Cost $2,087,485,174)	2,418,448,748
Foreign currency, at value (Cost $94,232)	93,845
Receivable for investments sold	56,836,618
Receivable for fund shares sold	8,059,747
Dividends and interest receivable	8,667,105
Receivable for securities lending income	92,223
Other receivables and prepaid expenses	77,695
Total assets	2,492,275,981
Liabilities
Payable for investments purchased	58,779,611
Payable for fund shares repurchased	5,145,272
Payable upon return of securities loaned	128,435,702
Payable to affiliates
Accounting and legal services fees	82,776
Transfer agent fees	155,055
Distribution and service fees	399
Trustees' fees	1,443
Other liabilities and accrued expenses	310,599
Total liabilities	192,910,857
Net assets	$2,299,365,124
Net assets consist of
Paid-in capital	$2,065,409,321
Undistributed net investment income	5,749,239
Accumulated net realized gain (loss) on investments and foreign currency transactions	(102,585,749	)
Net unrealized appreciation (depreciation) on investments and translation of assets and liabilities in foreign currencies	330,792,313
Net assets	$2,299,365,124

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       16

STATEMENT OF ASSETS AND LIABILITIES (continued)

Net asset value per share
Based on net asset values and shares outstanding - The fund has an unlimited number of shares authorized with no par value
Class A ($381,135,735 ÷ 35,354,928 shares)1	$10.78
Class B ($10,557,799 ÷ 979,400 shares)1	$10.78
Class C ($125,719,620 ÷ 11,657,427 shares)1	$10.78
Class I ($1,244,773,073 ÷ 115,032,596 shares)	$10.82
Class R2 ($1,081,011 ÷ 99,894 shares)	$10.82
Class R6 ($1,503,501 ÷ 139,133 shares)	$10.81
Class NAV ($534,594,385 ÷ 49,431,191 shares)	$10.81
Maximum offering price per share
Class A (net assets value per share ÷ 95%)2	$11.35

1	Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
2	On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       17

STATEMENT OF OPERATIONS   For the year ended 2-28-17

Investment income
Dividends	$87,896,642
Securities lending	841,346
Interest	152,768
Less foreign taxes withheld	(4,187,511	)
Total investment income	84,703,245
Expenses
Investment management fees	17,513,596
Distribution and service fees	2,937,476
Accounting and legal services fees	307,208
Transfer agent fees	1,928,923
Trustees' fees	33,529
State registration fees	172,886
Printing and postage	167,070
Professional fees	200,650
Custodian fees	430,621
Other	12,141
Total expenses	23,704,100
Less expense reductions	(461,360	)
Net expenses	23,242,740
Net investment income	61,460,505
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	11,497,136
Affiliated investments	(6,670	)
	11,490,466
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	186,832,667
Affiliated investments	6,101
	186,838,768
Net realized and unrealized gain	198,329,234
Increase in net assets from operations	$259,789,739

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       18

STATEMENTS OF CHANGES IN NET ASSETS 

	Year ended 2-28-17		Year ended 2-29-16
Increase (decrease) in net assets
From operations
Net investment income	$61,460,505		$79,050,948
Net realized gain (loss)	11,490,466		(19,547,888	)
Change in net unrealized appreciation (depreciation)	186,838,768		(304,309,620	)
Increase (decrease) in net assets resulting from operations	259,789,739		(244,806,560	)
Distributions to shareholders
From net investment income
Class A	(14,191,542	)	(15,908,865	)
Class B	(261,696	)	(312,238	)
Class C	(2,974,793	)	(3,515,222	)
Class I	(29,470,689	)	(36,220,453	)
Class R2	(27,249	)	(33,565	)
Class R6	(34,696	)	(29,367	)
Class NAV	(18,198,344	)	(21,679,609	)
From net realized gain
Class A	—		(22,412,725	)
Class B	—		(586,723	)
Class C	—		(6,495,421	)
Class I	—		(44,789,082	)
Class R2	—		(48,929	)
Class R6	—		(42,665	)
Class NAV	—		(27,209,972	)
Total distributions	(65,159,009	)	(179,284,836	)
From fund share transactions	(22,649,680	)	(154,387,828	)
Total increase (decrease)	171,981,050		(578,479,224	)
Net assets
Beginning of year	2,127,384,074		2,705,863,298
End of year	$2,299,365,124		$2,127,384,074
Undistributed net investment income	$5,749,239		$10,644,321

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       19

Financial highlights

Class A Shares Period ended		2-28-17		2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period		$9.89		$11.78		$11.74		$10.46		$9.81
Net investment income1		0.27		0.33		0.36		0.45	2	0.29
Net realized and unrealized gain (loss) on investments		0.92		(1.42	)	0.55		1.57		0.63
Total from investment operations		1.19		(1.09	)	0.91		2.02		0.92
Less distributions
From net investment income		(0.30	)	(0.32	)	(0.44	)	(0.31	)	(0.27	)
From net realized gain		—		(0.48	)	(0.43	)	(0.43	)	—
Total distributions		(0.30	)	(0.80	)	(0.87	)	(0.74	)	(0.27	)
Net asset value, end of period		$10.78		$9.89		$11.78		$11.74		$10.46
Total return (%)3,4		12.21		(9.38	)	8.10		19.85		9.66
Ratios and supplemental data
Net assets, end of period (in millions)		$381		$470		$580		$553		$276
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.29		1.29		1.33		1.34		1.43
	Expenses including reductions	1.26		1.28		1.32		1.34		1.42
	Net investment income	2.62		3.03		2.99		4.01	2	2.92
Portfolio turnover (%)		25		33		23		40		21

1	Based on average daily shares outstanding.
2	Net Investment income per share and the percentage of average net assets reflects special dividends received by the fund, which amounted to $0.08 and 0.72%, respectively.
3	Does not reflect the effect of sales charges, if any.
4	Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       20

Class B Shares Period ended		2-28-17		2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period		$9.89		$11.78		$11.74		$10.46		$9.81
Net investment income1		0.20		0.25		0.27		0.35	2	0.22
Net realized and unrealized gain (loss) on investments		0.92		(1.42	)	0.55		1.58		0.64
Total from investment operations		1.12		(1.17	)	0.82		1.93		0.86
Less distributions
From net investment income		(0.23	)	(0.24	)	(0.35	)	(0.22	)	(0.21	)
From net realized gain		—		(0.48	)	(0.43	)	(0.43	)	—
Total distributions		(0.23	)	(0.72	)	(0.78	)	(0.65	)	(0.21	)
Net asset value, end of period		$10.78		$9.89		$11.78		$11.74		$10.46
Total return (%)3,4		11.42		(10.10	)	7.26		18.95		8.90
Ratios and supplemental data
Net assets, end of period (in millions)		$11		$12		$17		$17		$11
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.99		2.02		2.10		2.15		2.29
	Expenses including reductions	1.97		2.02		2.10		2.12		2.12
	Net investment income	1.94		2.31		2.24		3.11	2	2.21
Portfolio turnover (%)		25		33		23		40		21

1	Based on average daily shares outstanding.
2	Net Investment income per share and the percentage of average net assets reflects special dividends received by the fund, which amounted to $0.08 and 0.72%, respectively.
3	Does not reflect the effect of sales charges, if any.
4	Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       21

Class C Shares Period ended		2-28-17		2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period		$9.90		$11.79		$11.74		$10.46		$9.81
Net investment income1		0.20		0.25		0.27		0.36	2	0.22
Net realized and unrealized gain (loss) on investments		0.91		(1.41	)	0.56		1.58		0.64
Total from investment operations		1.11		(1.16	)	0.83		1.94		0.86
Less distributions
From net investment income		(0.23	)	(0.25	)	(0.35	)	(0.23	)	(0.21	)
From net realized gain		—		(0.48	)	(0.43	)	(0.43	)	—
Total distributions		(0.23	)	(0.73	)	(0.78	)	(0.66	)	(0.21	)
Net asset value, end of period		$10.78		$9.90		$11.79		$11.74		$10.46
Total return (%)3,4		11.41		(10.02	)	7.42		18.97		8.90
Ratios and supplemental data
Net assets, end of period (in millions)		$126		$133		$168		$127		$65
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.99		1.99		2.03		2.05		2.15
	Expenses including reductions	1.97		1.98		2.02		2.05		2.12
	Net investment income	1.92		2.33		2.24		3.22	2	2.22
Portfolio turnover (%)		25		33		23		40		21

1	Based on average daily shares outstanding.
2	Net Investment income per share and the percentage of average net assets reflects special dividends received by the fund, which amounted to $0.08 and 0.72%, respectively.
3	Does not reflect the effect of sales charges, if any.
4	Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       22

Class I Shares Period ended		2-28-17		2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period		$9.93		$11.83		$11.78		$10.49		$9.84
Net investment income1		0.31		0.37		0.39		0.47	2	0.31
Net realized and unrealized gain (loss) on investments		0.91		(1.43	)	0.56		1.59		0.65
Total from investment operations		1.22		(1.06	)	0.95		2.06		0.96
Less distributions
From net investment income		(0.33	)	(0.36	)	(0.47	)	(0.34	)	(0.31	)
From net realized gain		—		(0.48	)	(0.43	)	(0.43	)	—
Total distributions		(0.33	)	(0.84	)	(0.90	)	(0.77	)	(0.31	)
Net asset value, end of period		$10.82		$9.93		$11.83		$11.78		$10.49
Total return (%)3		12.51		(9.13	)	8.50		20.28		10.07
Ratios and supplemental data
Net assets, end of period (in millions)		$1,245		$957		$1,242		$893		$641
Ratios (as a percentage of average net assets):
	Expenses before reductions	0.97		0.97		1.01		1.01		1.05
	Expenses including reductions	0.95		0.97		1.00		1.01		1.03
	Net investment income	2.91		3.37		3.24		4.19	2	3.10
Portfolio turnover (%)		25		33		23		40		21

1	Based on average daily shares outstanding.
2	Net Investment income per share and the percentage of average net assets reflects special dividends received by the fund, which amounted to $0.08 and 0.72%, respectively.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       23

Class R2 Shares Period ended		2-28-17		2-29-16		2-28-15		2-28-14		2-28-13	1
Per share operating performance
Net asset value, beginning of period		$9.93		$11.82		$11.78		$10.49		$9.84
Net investment income2		0.26		0.32		0.31		0.50	3	0.29
Net realized and unrealized gain (loss) on investments		0.92		(1.43	)	0.58		1.52		0.63
Total from investment operations		1.18		(1.11	)	0.89		2.02		0.92
Less distributions
From net investment income		(0.29	)	(0.30	)	(0.42	)	(0.30	)	(0.27	)
From net realized gain		—		(0.48	)	(0.43	)	(0.43	)	—
Total distributions		(0.29	)	(0.78	)	(0.85	)	(0.73	)	(0.27	)
Net asset value, end of period		$10.82		$9.93		$11.82		$11.78		$10.49
Total return (%)4		12.04		(9.51	)	7.93		19.78		9.58
Ratios and supplemental data
Net assets, end of period (in millions)		$1		$1		$1		$1		—	5
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.36		1.86		3.22		8.52		19.42
	Expenses including reductions	1.34		1.43		1.47		1.47		1.47
	Net investment income	2.50		2.92		2.66		4.38	3	2.91
Portfolio turnover (%)		25		33		23		40		21

1	The inception date for Class R2 shares is 3-1-12.
2	Based on average daily shares outstanding.
3	Net Investment income per share and the percentage of average net assets reflects special dividends received by the fund, which amounted to $0.08 and 0.72%, respectively.
4	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5	Less than $500,000.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       24

Class R6 Shares Period ended		2-28-17		2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period		$9.92		$11.81		$11.77		$10.49		$9.84
Net investment income1		0.30		0.38		0.39		0.48	2	0.33
Net realized and unrealized gain (loss) on investments		0.93		(1.42	)	0.57		1.58		0.64
Total from investment operations		1.23		(1.04	)	0.96		2.06		0.97
Less distributions
From net investment income		(0.34	)	(0.37	)	(0.49	)	(0.35	)	(0.32	)
From net realized gain		—		(0.48	)	(0.43	)	(0.43	)	—
Total distributions		(0.34	)	(0.85	)	(0.92	)	(0.78	)	(0.32	)
Net asset value, end of period		$10.81		$9.92		$11.81		$11.77		$10.49
Total return (%)3		12.66		(8.94	)	8.56		20.29		10.12
Ratios and supplemental data
Net assets, end of period (in millions)		$2		$1		—	4	—	4	—	4
Ratios (as a percentage of average net assets):
	Expenses before reductions	0.87		1.45		6.51		10.30		10.38
	Expenses including reductions	0.85		0.85		0.87		0.97		0.97
	Net investment income	2.85		3.48		3.32		4.26	2	3.29
Portfolio turnover (%)		25		33		23		40		21

1	Based on average daily shares outstanding.
2	Net Investment income per share and the percentage of average net assets reflects special dividends received by the fund, which amounted to $0.08 and 0.72%, respectively.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4	Less than $500,000.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       25

Class NAV Shares Period ended		2-28-17		2-29-16		2-28-15		2-28-14		2-28-13
Per share operating performance
Net asset value, beginning of period		$9.92		$11.82		$11.78		$10.49		$9.84
Net investment income1		0.32		0.37		0.41		0.49	2	0.35
Net realized and unrealized gain (loss) on investments		0.91		(1.42	)	0.55		1.59		0.62
Total from investment operations		1.23		(1.05	)	0.96		2.08		0.97
Less distributions
From net investment income		(0.34	)	(0.37	)	(0.49	)	(0.36	)	(0.32	)
From net realized gain		—		(0.48	)	(0.43	)	(0.43	)	—
Total distributions		(0.34	)	(0.85	)	(0.92	)	(0.79	)	(0.32	)
Net asset value, end of period		$10.81		$9.92		$11.82		$11.78		$10.49
Total return (%)3		12.76		(9.03	)	8.57		20.47		10.17
Ratios and supplemental data
Net assets, end of period (in millions)		$535		$554		$696		$653		$944
Ratios (as a percentage of average net assets):
	Expenses before reductions	0.86		0.86		0.88		0.88		0.90
	Expenses including reductions	0.85		0.85		0.87		0.87		0.89
	Net investment income	3.03		3.45		3.42		4.35	2	3.56
Portfolio turnover (%)		25		33		23		40		21

1	Based on average daily shares outstanding.
2	Net Investment income per share and the percentage of average net assets reflects special dividends received by the fund, which amounted to $0.08 and 0.72%, respectively.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       26

Notes to financial statements

Note 1 — Organization

John Hancock Global Shareholder Yield Fund (the fund) is a series of John Hancock Funds III (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The primary investment objective of the fund is to seek to provide a high level of income. Capital appreciation is a secondary investment objective.

The fund may offer multiple classes of shares. The shares currently offered are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class B shares are closed to new investors. Class I shares are offered to institutions and certain investors. Class R2 shares are available only to certain retirement plans. Class R6 shares are available only to certain retirement plans, institutions and other investors. Class NAV shares are offered to John Hancock affiliated funds of funds and certain 529 plans. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ. Class B shares convert to Class A shares eight years after purchase.

Note 2 — Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 p.m., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the fund's Valuation Policies and Procedures.

In order to value the securities, the fund uses the following valuation techniques: Equity securities held by the fund are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the fund in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rates supplied by an independent pricing vendor.

In certain instances, the Pricing Committee may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the fund's Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the fund's Pricing Committee, following procedures established by the Board of Trustees. The fund uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       27

The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the fund's own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the fund's investments as of February 28, 2017, by major security category or type:

		Total value at 2-28-17	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Common stocks
	Australia	$77,198,416	—	$77,198,416	—
	Canada	110,727,651	$110,727,651	—	—
	France	157,244,728	—	157,244,728	—
	Germany	216,210,021	—	216,210,021	—
	Italy	42,385,096	—	42,385,096	—
	Netherlands	30,445,679	30,445,679	—	—
	Norway	48,087,197	—	48,087,197	—
	Singapore	27,742,334	—	27,742,334	—
	Spain	14,716,933	—	14,716,933	—
	Sweden	15,882,066	—	15,882,066	—
	Switzerland	98,610,319	—	98,610,319	—
	Taiwan	24,674,998	24,674,998	—	—
	United Kingdom	311,860,321	27,509,667	284,350,654	—
	United States	1,067,202,437	1,067,202,437	—	—
Securities lending collateral		128,435,133	128,435,133	—	—
Short-term investments		47,025,419	47,025,419	—	—
Total investments in securities		$2,418,448,748	$1,436,020,984	$982,427,764	—

Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Dividend income is recorded on the ex-date, except for dividends of foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Distributions received on securities that represent a tax return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain if amounts are estimable. Foreign taxes are provided for based on the fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.

Securities lending. The fund may lend its securities to earn additional income. The fund receives cash collateral from the borrower in an amount not less than the market value of the loaned securities. The fund will invest its collateral in JHCT, an affiliate of the fund, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT invests cash received as collateral as part of the securities lending program in short-term money

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       28

market investments. The fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.

The fund has the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the fund for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.

Although the risk of the loss of the securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the fund could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. The fund receives compensation for lending its securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the fund is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statement of operations.

Obligations to repay collateral received by the fund are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. As of February 28, 2017, the fund loaned common stocks valued at $124,014,316 and received $128,435,702 of cash collateral.

Foreign currency translation. Assets, including investments and liabilities denominated in foreign currencies, are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments.

Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors. Foreign investments are also subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.

Foreign taxes. The fund may be subject to withholding tax on income and/or capital gains or repatriation taxes imposed by certain countries in which the fund invests. Taxes are accrued based upon investment income, realized gains or unrealized appreciation.

Line of credit. The fund may borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund's custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.

Effective June 30, 2016, the fund and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the need of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on a combination of fixed and asset based allocations and is reflected in Other expenses on the Statement of operations. Prior to June 30, 2016, the fund had a similar agreement that enabled it to participate in a $750 million unsecured committed line of credit. For the year ended February 28, 2017, the fund had no borrowings under either line of credit. Commitment fees for the year ended February 28, 2017 were $7,122.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       29

Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are calculated daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.

Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.

For federal income tax purposes, as of February 28, 2017, the fund has a short-term capital loss carryfoward of $42,185,848 and a long-term capital loss carryforward of $54,587,482 available to offset future net realized capital gains. These carryforwards do not expire.

As of February 28, 2017, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund's federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund typically declares and pays dividends quarterly. Capital gain distributions, if any, at least annually.

The tax character of distributions for the years ended February 28, 2017 and February 29, 2016 was as follows:

	February 28, 2017	February 29, 2016
Ordinary Income	$65,159,009	$77,699,319
Long-Term Capital Gain	—	101,585,517
Total	$65,159,009	$179,284,836

Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of February 28, 2017, the components of distributable earnings on a tax basis consisted of $5,749,239 of undistributed ordinary income.

Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund's financial statements as a return of capital.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to wash sale loss deferrals and partnerships.

Note 3 — Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       30

Note 4 — Fees and transactions with affiliates

John Hancock Advisers, LLC (the Advisor) serves as investment advisor for the fund. John Hancock Funds, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, wholly owned subsidiaries of Manulife Financial Corporation (MFC).

Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor, equivalent on an annual basis to the sum of 0.800% of average daily net assets. The Advisor has a subadvisory agreement with Epoch Investment Partners, Inc. The fund is not responsible for payment of the subadvisory fees.

The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the year ended February 28, 2017, this waiver amounted to 0.01% of the fund's average net assets. This arrangement may be amended or terminated at any time by the Advisor upon notice to the fund and with the approval of the Board of Trustees.

Effective December 15, 2016, the Advisor contractually agrees to reduce its management fee or, if necessary, make payment to the applicable class in an amount equal to the amount by which expenses of Class A, Class B, Class C, Class I, Class R2, and Class R6 shares, as applicable, exceed 1.09%, 1.84%, 1.84%, 0.84%, 1.24%, and 0.74%, respectively, of average net assets attributable to the applicable class. For purposes of this agreement, "expenses of Class A, Class B, Class C, Class I, Class R1, Class R2, and Class R6 shares" means all class expenses (including fund expenses attributable to the class), excluding taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund's business, acquired fund fees and expenses paid indirectly, and short dividend expense. This agreement expires on June 30, 2018, unless renewed by mutual agreement of the fund and the Advisor based on upon a determination that this is appropriate under the circumstances at that time.

Prior to July 1, 2016, the Advisor had contractually agreed to waive all or a portion of its management fee and/or reimburse or pay operating expenses of the fund to the extent necessary to maintain the fund's total operating expenses at 1.47% for Class R2 shares, excluding certain expenses such as taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund's business, acquired fund fees and short dividend expense.

The Advisor also contractually agreed to waive and/or reimburse all class-specific expenses for Class R6 shares of the fund to the extent they exceed 0.00% of average annual net assets attributable to Class R6 shares (the class expense waiver). The class expense waiver expires on June 30, 2017, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

Effective December 15, 2016, the Advisor has voluntarily agreed to reduce its management fee, or if necessary make payment to the applicable class in an amount equal to the amount by which the expenses of Class NAV exceed 0.74% of average net assets. "Expenses" means all the expenses of Class NAV, excluding taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund's business, acquired fund fees and expenses paid indirectly, and short dividend expense. This voluntary expense reduction will continue in effect until terminated at any time by the Advisor on notice to the fund.

For the year ended February 28, 2017, the expense reductions described above amounted to the following:

Class	Expense reductions	Class	Expense reductions
Class A	$141,103	Class R2	$157
Class B	2,290	Class R6	417
Class C	26,666	Class NAV	88,005
Class I	202,722	Total	$461,360

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       31

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended February 28, 2017 were equivalent to a net annual effective rate of 0.78% of the fund's average daily net assets.

Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred for the year ended February 28, 2017 amounted to an annual rate of 0.01% of the fund's average daily net assets.

Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans with respect to Class A, Class B, Class C and Class R2 pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. In addition, under a service plan for Class R2 shares, the fund pays for certain other services. The fund may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund's shares:

Class	Rule 12b-1 fee	Service fee
Class A	0.30%	—
Class B	1.00%	—
Class C	1.00%	—
Class R2	0.25%	0.25%

Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $1,696,434 for the year ended February 28, 2017. Of this amount, $290,786 was retained and used for printing prospectuses, advertising, sales literature and other purposes, $1,401,592 was paid as sales commissions to broker-dealers and $4,056 was paid as sales commissions to sales personnel of Signator Investors, Inc., a broker-dealer affiliate of the Advisor.

Class A, Class B and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares that are acquired through purchases of $1 million or more and are redeemed within one year of purchase are subject to a 1.00% sales charge. Class B shares that are redeemed within six years of purchase are subject to CDSCs, at declining rates, beginning at 5.00%. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended February 28, 2017, CDSCs received by the Distributor amounted to $24,732, $14,682 and $20,131 for Class A, Class B and Class C shares, respectively.

Transfer agent fees. The fund has a transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to five categories of share classes: Retail Share and Institutional Share Classes of Non-Municipal Bond Funds, Class R6 Shares, Retirement Share Classes and Municipal Bond Share Classes. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       32

Class level expenses. Class level expenses for the year ended February 28, 2017 were:

Class	Distribution and service fees	Transfer agent fees
Class A	$1,462,137	$611,255
Class B	117,340	14,727
Class C	1,353,058	169,728
Class I	—	1,132,848
Class R2	4,941	171
Class R6	—	194
Total	$2,937,476	$1,928,923

Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each fund based on its net assets relative to other funds within the John Hancock group of funds complex.

Interfund lending program Pursuant to an Exemptive Order issued by the SEC, the fund, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the funds to borrow from, or lend money to, other participating affiliated funds. At period end, no interfund loans were outstanding. Interest expense is included in Other expenses on the Statement of operations. The fund's activity in this program during the period for which loans were outstanding was as follows:

Borrower or lender	Weighted average loan balance	Days outstanding	Weighted average interest rate	Interest income (expense)
Borrower	$97,398,353	5	0.70%	($9,469)
Lender	$20,510,931	3	0.71%	$1,214

Note 5 — Fund share transactions

Transactions in fund shares for the years ended February 28, 2017 and February 29, 2016 were as follows:

		Year ended 2-28-17					Year ended 2-29-16
	Shares			Amount		Shares			Amount
Class A shares
Sold	10,495,512			$110,012,405		12,988,813			$141,830,521
Distributions reinvested	1,364,405			13,995,516		3,650,890			37,774,679
Repurchased	(23,980,304		)	(251,777,384	)	(18,406,136		)	(198,023,915	)
Net decrease	(12,120,387		)	($127,769,463	)	(1,766,433		)	($18,418,715	)
Class B shares
Sold	46,334			$483,148		37,856			$406,269
Distributions reinvested	18,961			194,376		69,139			713,045
Repurchased	(296,555		)	(3,105,472	)	(307,309		)	(3,306,303	)
Net decrease	(231,260		)	($2,427,948	)	(200,314		)	($2,186,989	)
Class C shares
Sold	2,017,179			$21,196,030		2,552,507			$28,296,220
Distributions reinvested	274,676			2,817,422		902,501			9,313,786
Repurchased	(4,093,360		)	(42,785,906	)	(4,277,843		)	(45,937,158	)
Net decrease	(1,801,505		)	($18,772,454	)	(822,835		)	($8,327,152	)

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       33

		Year ended 2-28-17					Year ended 2-29-16
	Shares			Amount		Shares			Amount
Class I shares
Sold	71,471,059			$752,004,989		25,978,642			$282,688,478
Distributions reinvested	2,811,312			29,001,772		7,630,235			79,403,301
Repurchased	(55,588,014		)	(587,635,516	)	(42,313,928		)	(456,473,543	)
Net increase (decrease)	18,694,357			$193,371,245		(8,705,051		)	($94,381,764	)
Class R2 shares
Sold	36,435			$380,649		42,457			$455,553
Distributions reinvested	2,631			27,105		7,751			80,387
Repurchased	(29,789		)	(312,790	)	(73,045		)	(768,518	)
Net increase (decrease)	9,277			$94,964		(22,837		)	($232,578	)
Class R6 shares
Sold	67,568			$711,304		77,540			$867,395
Distributions reinvested	3,370			34,696		6,783			69,824
Repurchased	(21,368		)	(223,952	)	(29,617		)	(316,169	)
Net increase	49,570			$522,048		54,706			$621,050
Class NAV shares
Sold	2,603,181			$27,412,499		918,471			$10,328,098
Distributions reinvested	1,767,262			18,198,344		4,706,809			48,889,581
Repurchased	(10,780,446		)	(113,278,915	)	(8,691,173		)	(90,679,359	)
Net decrease	(6,410,003		)	($67,668,072	)	(3,065,893		)	($31,461,680	)
Total net decrease	(1,809,951		)	($22,649,680	)	(14,528,657		)	($154,387,828	)

Affiliates of the fund owned 100% of shares of the fund of Class NAV, on February 28, 2017. Such concentration of shareholders' capital could have a material effect on the fund if such shareholders redeem from the fund.

Note 6 — Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to $526,412,132 and $542,023,312, respectively, for the year ended February 28, 2017.

Note 7 — Investment by affiliated funds

Certain investors in the fund are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the fund for the purpose of exercising management or control; however, this investment may represent a significant portion of the fund's net assets. At February 28, 2017, funds within the John Hancock group of funds complex held 23.1% of the fund's net assets. The following affiliated funds owned 5% or more of the fund's net assets:

Fund	Affiliated concentration
John Hancock Funds II Multimanager Lifestyle Growth Portfolio	7.3%
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio	7.3%

Note 8 — New rule issuance

In October 2016, the SEC issued Final Rule Release No.33-10231, Investment Company Reporting Modernization (the Release). The Release calls for the adoption of new rules and forms as well as amendments to its rules and forms to modernize the reporting and disclosure of information by registered investment companies. The SEC is adopting amendments to Regulation S-X, which will require standardized, enhanced disclosure about derivatives in investment company financial statements, as well as other amendments. The updates to Regulation S-X are effective August 1, 2017 and may result in additional disclosure relating to the presentation of derivatives and certain other financial instruments.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       34

AUDITOR'S REPORT

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of John Hancock Funds III and Shareholders of John Hancock Global Shareholder Yield Fund:

In our opinion, the accompanying statement of assets and liabilities, including the fund's investments, and the related statements of operations, of changes in net assets, and the financial highlights present fairly, in all material respects, the financial position of the John Hancock Global Shareholder Yield Fund (the "Fund") as of February 28, 2017, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and the financial highlights for each of the periods presented, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities as of February 28, 2017 by correspondence with the custodian, transfer agents, and the application of alternative auditing procedures where securities purchased confirmations had not been received, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

Boston, Massachusetts

April 12, 2017

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       35

TAX INFORMATION

Unaudited

For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended February 28, 2017.

The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.

The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.

Eligible shareholders will be mailed a 2017 Form 1099-DIV in early 2018. This will reflect the tax character of all distributions paid in calendar year 2017.

Please consult a tax advisor regarding the tax consequences of your investment in the fund.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       36

Trustees and Officers

This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.

Independent Trustees

Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since1	Number of John Hancock funds overseen by Trustee
Hassell H. McClellan, Born: 1945	2012	229
Trustee and Chairperson of the Board Director/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2014) and Chairperson of the Board (since 2017), John Hancock Collateral Trust; Trustee (since 2015) and Chairperson of the Board (since 2017), John Hancock Exchange-Traded Fund Trust; Trustee (since 2012) and Chairperson of the Board (since 2017), John Hancock retail funds3; Trustee (2005-2006 and since 2012) and Chairperson of the Board (since 2017), John Hancock Funds III; Trustee (since 2005) and Chairperson of the Board (since 2017), John Hancock Variable Insurance Trust and John Hancock Funds II.

Charles L. Bardelis,2 Born: 1941	2012	229
Trustee Director, Island Commuter Corp. (marine transport). Trustee, John Hancock Collateral Trust (since 2014), Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (since 2012); Trustee, John Hancock Funds III (2005-2006 and since 2012); Trustee, John Hancock Variable Insurance Trust (since 1988); Trustee, John Hancock Funds II (since 2005).

Peter S. Burgess,2 Born: 1942	2012	229
Trustee Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since 2004); Director, Symetra Financial Corporation (2010-2016); Director, PMA Capital Corporation (2004-2010). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (since 2012); Trustee, John Hancock Funds III (2005-2006 and since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2005).

William H. Cunningham, Born: 1944	2006	229
Trustee Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009-2014). Trustee, John Hancock retail funds3 (since 1986); Trustee, John Hancock Variable Insurance Trust (since 2012); Trustee, John Hancock Funds II (2005-2006 and since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

Grace K. Fey, Born: 1946	2012	229
Trustee Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988-2007); Director, Fiduciary Trust (since 2009). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2008).

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       37

Independent Trustees (continued)

Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since1	Number of John Hancock funds overseen by Trustee
Theron S. Hoffman,2 Born: 1947	2012	229
Trustee Chief Executive Officer, T. Hoffman Associates, LLC (consulting firm) (since 2003); Director, The Todd Organization (consulting firm) (2003-2010); President, Westport Resources Management (investment management consulting firm) (2006-2008); Senior Managing Director, Partner, and Operating Head, Putnam Investments (2000-2003); Executive Vice President, The Thomson Corp. (financial and legal information publishing) (1997-2000). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2008).

Deborah C. Jackson, Born: 1952	2008	229
Trustee President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, National Association of Corporate Directors/New England (since 2015); Board of Directors, Association of Independent Colleges and Universities of Massachusetts, (since 2014); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002-2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of American Student Assistance Corporation (1996-2009); Board of Directors of Boston Stock Exchange (2002-2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007-2011). Trustee, John Hancock retail funds3 (since 2008); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); and Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

James M. Oates, Born: 1946	2012	229
Trustee Managing Director, Wydown Group (financial consulting firm) (since 1994); Chairman and Director, Emerson Investment Management, Inc. (2000-2015); Independent Chairman, Hudson Castle Group, Inc. (formerly IBEX Capital Markets, Inc.) (financial services company) (1997-2011); Director, Stifel Financial (since 1996); Director, Investor Financial Services Corporation (1995-2007); Director, Connecticut River Bancorp (1998-2014); Director/Trustee, Virtus Funds (since 1988). Trustee (since 2014) and Chairperson of the Board (2014-2016), John Hancock Collateral Trust; Trustee (since 2015) and Chairperson of the Board (2015-2016), John Hancock Exchange-Traded Fund Trust; Trustee (since 2012) and Chairperson of the Board (2012-2016), John Hancock retail funds3; Trustee (2005-2006 and since 2012) and Chairperson of the Board (2012-2016), John Hancock Funds III; Trustee (since 2004) and Chairperson of the Board (since 2005-2016), John Hancock Variable Insurance Trust; Trustee (since 2005) and Chairperson of the Board, John Hancock Funds II (2005-2016).

Steven R. Pruchansky, Born: 1944	2006	229
Trustee and Vice Chairperson of the Board Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (since 2000); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (since 2014); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992) and Chairperson of the Board (2011-2012), John Hancock retail funds3; Trustee and Vice Chairperson of the Board, John Hancock retail funds3 John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2012); Trustee and Vice Chairperson of the Board, John Hancock Collateral Trust (since 2014); Trustee and Vice Chairperson of the Board, John Hancock Exchange-Traded Fund Trust (since 2015).

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       38

Independent Trustees (continued)

Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since1	Number of John Hancock funds overseen by Trustee
Gregory A. Russo, Born: 1949	2008	229
Trustee Director and Audit Committee Chairman (since 2012), and Member, Audit Committee and Finance Committee (since 2011), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (since 2012) and Finance Committee Chairman (since 2014), The Moorings, Inc. (nonprofit continuing care community); Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002-2006); Vice Chairman, Industrial Markets, KPMG (1998-2002); Chairman and Treasurer, Westchester County, New York, Chamber of Commerce (1986-1992); Director, Treasurer, and Chairman of Audit and Finance Committees, Putnam Hospital Center (1989-1995); Director and Chairman of Fundraising Campaign, United Way of Westchester and Putnam Counties, New York (1990-1995). Trustee, John Hancock retail funds3 (since 2008); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

Non-Independent Trustees⁴

Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since1	Number of John Hancock funds overseen by Trustee
James R. Boyle, Born: 1959	2015	229
Non-Independent Trustee Chairman and Chief Executive Officer, Zillion Group, Inc. (formerly HealthFleet, Inc.) (healthcare) (since 2014); Executive Vice President and Chief Executive Officer, U.S. Life Insurance Division of Genworth Financial, Inc. (insurance) (January 2014-July 2014); Senior Executive Vice President, Manulife Financial Corporation, President and Chief Executive Officer, John Hancock (1999-2012); Chairman and Director, John Hancock Advisers, LLC, John Hancock Funds, LLC, and John Hancock Investment Management Services, LLC (2005-2010). Trustee, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (2005-2010; 2012-2014 and since 2015); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (2005-2014 and since 2015).

Craig Bromley, Born: 1966	2012	229
Non-Independent Trustee President, John Hancock Financial Service (since 2012); Senior Executive Vice President and General Manager, U.S. Division, Manulife Financial Corporation (since 2012); President and Chief Executive Officer, Manulife Insurance Company (Manulife Japan) (2005-2012, including prior positions). Trustee, John Hancock retail funds,3 John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

Warren A. Thomson, Born: 1955	2012	229
Non-Independent Trustee Senior Executive Vice President and Chief Investment Officer, Manulife Financial Corporation and The Manufacturers Life Insurance Company (since 2009); Chairman, Manulife Asset Management (since 2001, including prior positions); Director and Chairman, Manulife Asset Management Limited (since 2006); Director and Chairman, Hancock Natural Resources Group, Inc. (since 2013). Trustee, John Hancock retail funds,3 John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       39

Principal officers who are not Trustees

Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years	Officer of the Trust since
Andrew G. Arnott, Born: 1971	2009
President Senior Vice President, John Hancock Financial Services (since 2009); Director and Executive Vice President, John Hancock Advisers, LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Investment Management Services, LLC (since 2006, including prior positions); President, John Hancock Funds, LLC (since 2004, including prior positions); President, John Hancock retail funds,3 John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2007, including prior positions); President, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

John J. Danello, Born: 1955

2014

Senior Vice President, Secretary, and Chief Legal Officer Vice President and Chief Counsel, John Hancock Wealth Management (since 2005); Senior Vice President (since 2007) and Chief Legal Counsel (2007-2010), John Hancock Funds, LLC and The Berkeley Financial Group, LLC; Senior Vice President (since 2006, including prior positions) and Chief Legal Officer and Secretary (since 2014), John Hancock retail funds,3 John Hancock Funds II and John Hancock Variable Insurance Trust; Senior Vice President, Secretary and Chief Legal Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014); Vice President, John Hancock Life & Health Insurance Company (since 2009); Vice President, John Hancock Life Insurance Company (USA) and John Hancock Life Insurance Company of New York (since 2010); and Senior Vice President, Secretary and Chief Legal Counsel (2007-2014, including prior positions) of John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC.

Francis V. Knox, Jr., Born: 1947

2006

Chief Compliance Officer Vice President, John Hancock Financial Services (since 2005); Chief Compliance Officer, John Hancock retail funds,3 John Hancock Variable Insurance Trust, John Hancock Funds II, John Hancock Advisers, LLC, and John Hancock Investment Management Services, LLC (since 2005); Chief Compliance Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

Charles A. Rizzo, Born: 1957

2007

Chief Financial Officer Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC (since 2008); Chief Financial Officer, John Hancock retail funds,3 John Hancock Variable Insurance Trust and John Hancock Funds II (since 2007); Chief Financial Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

Salvatore Schiavone, Born: 1965

2010

Treasurer Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC (since 2007); Treasurer, John Hancock retail funds3 (since 2007, including prior positions); Treasurer, John Hancock Variable Insurance Trust and John Hancock Funds II (2007-2009 and since 2010, including prior positions); Treasurer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

The business address for all Trustees and Officers is 601 Congress Street, Boston, Massachusetts 02210-2805.

The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-225-5291.

1	Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee's death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table.
2	Member of the Audit Committee.
3	"John Hancock retail funds" comprises John Hancock Funds III and 40 other John Hancock funds consisting of 30 series of other John Hancock trusts and 10 closed-end funds.
4	The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates.

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       40

More information

Trustees
Hassell H. McClellan, Chairperson^#
Steven R. Pruchansky, Vice Chairperson
Charles L. Bardelis*
James R. Boyle†
Craig Bromley†
Peter S. Burgess*
William H. Cunningham
Grace K. Fey
Theron S. Hoffman*
Deborah C. Jackson
James M. Oates
Gregory A. Russo
Warren A. Thomson†
Officers
Andrew G. Arnott
President
John J. Danello
Senior Vice President, Secretary,
and Chief Legal Officer
Francis V. Knox, Jr.
Chief Compliance Officer
Charles A. Rizzo
Chief Financial Officer
Salvatore Schiavone
Treasurer
Investment advisor
John Hancock Advisers, LLC
Subadvisor
Epoch Investment Partners, Inc.
Principal distributor
John Hancock Funds, LLC
Custodian
Citibank, N.A.
Transfer agent
John Hancock Signature Services, Inc.
Legal counsel
K&L Gates LLP
Independent registered public accounting firm
PricewaterhouseCoopers LLP

*Member of the Audit Committee
†Non-Independent Trustee
^#Effective 1-1-17

The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.

The fund's complete list of portfolio holdings, for the first and third fiscal quarters, is filed with the SEC on Form N-Q. The fund's Form N-Q is available on our website and the SEC's website, sec.gov, and can be reviewed and copied (for a fee) at the SEC's Public Reference Room in Washington, DC. Call 800-SEC-0330 to receive information on the operation of the SEC's Public Reference Room.

We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.

You can also contact us:
800-225-5291 jhinvestments.com	Regular mail: John Hancock Signature Services, Inc. P.O. Box 55913 Boston, MA 02205-5913	Express mail: John Hancock Signature Services, Inc. Suite 55913 30 Dan Road Canton, MA 02021

ANNUAL REPORT   |   JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND       41

John Hancock family of funds

DOMESTIC EQUITY FUNDS

Balanced
Blue Chip Growth
Classic Value
Disciplined Value
Disciplined Value Mid Cap
Equity Income
Fundamental All Cap Core
Fundamental Large Cap Core
Fundamental Large Cap Value
New Opportunities
Small Cap Value
Small Company
Strategic Growth
U.S. Global Leaders Growth
U.S. Growth
Value Equity
GLOBAL AND INTERNATIONAL EQUITY FUNDS

Disciplined Value International
Emerging Markets
Emerging Markets Equity
Fundamental Global Franchise
Global Equity
Global Shareholder Yield
Greater China Opportunities
International Growth
International Small Company
International Value Equity
INCOME FUNDS

Bond
California Tax-Free Income
Emerging Markets Debt
Floating Rate Income
Global Income
Government Income
High Yield
High Yield Municipal Bond
Income
Investment Grade Bond
Money Market
Short Duration Credit Opportunities
Spectrum Income
Strategic Income Opportunities
Tax-Free Bond
ALTERNATIVE AND SPECIALTY FUNDS

Absolute Return Currency
Alternative Asset Allocation
Enduring Assets
Financial Industries
Global Absolute Return Strategies
Global Conservative Absolute Return
Global Focused Strategies
Global Real Estate
Natural Resources
Redwood
Regional Bank
Seaport
Technical Opportunities

A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investments at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.

ASSET ALLOCATION

Income Allocation Fund
Multi-Index Lifetime Portfolios
Multi-Index Preservation Portfolios
Multimanager Lifestyle Portfolios
Multimanager Lifetime Portfolios
EXCHANGE-TRADED FUNDS

John Hancock Multifactor Consumer Discretionary ETF
John Hancock Multifactor Consumer Staples ETF
John Hancock Multifactor Developed International ETF
John Hancock Multifactor Energy ETF
John Hancock Multifactor Financials ETF
John Hancock Multifactor Healthcare ETF
John Hancock Multifactor Industrials ETF
John Hancock Multifactor Large Cap ETF
John Hancock Multifactor Materials ETF
John Hancock Multifactor Mid Cap ETF
John Hancock Multifactor Technology ETF
John Hancock Multifactor Utilities ETF
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE FUNDS

ESG All Cap Core
ESG Core Bond
ESG International Equity
ESG Large Cap Core
CLOSED-END FUNDS

Financial Opportunities
Hedged Equity & Income
Income Securities Trust
Investors Trust
Preferred Income
Preferred Income II
Preferred Income III
Premium Dividend
Tax-Advantaged Dividend Income
Tax-Advantaged Global Shareholder Yield

John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.

John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Funds, LLC or Dimensional Fund Advisors LP.

Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.

John Hancock Investments

A trusted brand

John Hancock Investments is a premier asset manager representing one of
America's most trusted brands, with a heritage of financial stewardship dating
back to 1862. Helping our shareholders pursue their financial goals is at the
core of everything we do. It's why we support the role of professional financial
advice and operate with the highest standards of conduct and integrity.

A better way to invest

We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising standards
and serve the best interests of our shareholders.

Results for investors

Our unique approach to asset management enables us to provide a diverse set
of investments backed by some of the world's best managers, along with strong
risk-adjusted returns across asset classes.

 

	John Hancock Funds, LLC n Member FINRA, SIPC 601 Congress Street n Boston, MA 02210-2805 800-225-5291 n jhinvestments.com
	This report is for the information of the shareholders of John Hancock Global Shareholder Yield Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
	MF355082	320A 2/17 4/17

ITEM 2. CODE OF ETHICS.

As of the end of the year, February 28, 2017, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the “Senior Financial Officers”). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Peter S. Burgess is the audit committee financial expert and is “independent”, pursuant to general instructions on Form N-CSR Item 3.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Audit Fees

The aggregate fees billed for professional services rendered by the principal accountant, for the audits of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to the following for the fiscal years ended February 28, 2017 and February 28, 2016. These fees were billed to the registrant and were approved by the registrant’s audit committee.

Fund	February 28, 2017	February 29, 2016
John Hancock Global Shareholder Yield Fund	$            39,717	$            39,846
John Hancock International Growth Fund	49,066	51,418
Total	$            88,783	$            91,264

(b) Audit-Related Services

Audit-related service fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser (“control affiliates”) that provides ongoing services to the registrant. The nature of the services provided was affiliated service provider internal controls reviews. In addition, amounts billed to control affiliates for service provider internal controls reviews were $106,517 and $103,474 for the fiscal years ended February 28, 2017 and February 29, 2016, respectively.

Fund	February 28, 2017	February 29, 2016
John Hancock Global Shareholder Yield Fund	$              510	$              525
John Hancock International Growth Fund	510	525
Total	$           1,020	$           1,050

(c) Tax Fees

The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning (“tax fees”) amounted to the following for the fiscal years ended February 28, 2017 and February 29, 2016. The nature of the services comprising the tax fees was the review of the registrant’s tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant’s audit committee.

Fund	February 28, 2017	February 29, 2016
John Hancock Global Shareholder Yield Fund	$            3,647	$            3,500
John Hancock International Growth Fund	4,197	4,000
Total	$          7,844	$            7,500

(d) All Other Fees

The nature of the services comprising all other fees is attestation services surrounding new class launches and miscellaneous tax services. Other fees amounted to the following for the fiscal years ended February 28, 2017 and February 29, 2016 billed to the registrant or to the control affiliates.

Fund	February 28, 2017	February 29, 2016
John Hancock Global Shareholder Yield Fund	$             24	$          1,704
John Hancock International Growth Fund	24	9,804
Total	$             48	$             11,508

(e)(1) Audit Committee Pre-Approval Policies and Procedures:

The trust’s Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the “Auditor”) relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The trust’s Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per year/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per year/per fund are subject to specific pre-approval by the Audit Committee.

All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.

(e)(2) Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X:

Audit-Related Fees, Tax Fees and All Other Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

(f) According to the registrant’s principal accountant for the fiscal year ended February 28, 2017, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.

(g) The aggregate non-audit fees billed by the registrant’s principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $5,409,579 for the fiscal year ended February 28, 2017 and $6,260,177 for the fiscal year ended February 29, 2016.

(h) The audit committee of the registrant has considered the non-audit services provided by the registrant’s principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant’s independence.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:

Peter S. Burgess - Chairman

Charles L. Bardelis

Theron S. Hoffman

ITEM 6. SCHEDULE OF INVESTMENTS.

(a) Not applicable.

(b) Not applicable.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

The registrant has adopted procedures by which shareholders may recommend nominees to the registrant's Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached “John Hancock Funds – Nominating, Governance and Administration Committee Charter”.

ITEM 11. CONTROLS AND PROCEDURES.

(a)Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b)There were no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal half-year (the registrant's second fiscal half-year in the case of an annual report) that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 12. EXHIBITS.

(a)(1) Code of Ethics for Senior Financial Officers is attached.

(a)(2) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.

(b)(1) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.

(c)(1) Submission of Matters to a Vote of Security Holders is attached. See attached “John Hancock Funds – Nominating, Governance and Administration Committee Charter”.

(c)(2) Contact person at the registrant.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

John Hancock Funds III

By:	/s/ Andrew Arnott
	Andrew Arnott
	President
Date:	April 19, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Andrew Arnott
	Andrew Arnott
	President
Date:	April 19, 2017

By:	/s/ Charles A. Rizzo
	Charles A. Rizzo
	Chief Financial Officer
Date:	April 19, 2017

EX-99.CODE ETH

John Hancock Code of Ethics

January 1, 2008

(revised September 16, 2015)

This is the Code of Ethics for the following:

John Hancock Advisers, LLC and
John Hancock Investment Management Services, LLC
(each, a “John Hancock Adviser”)

John Hancock Funds, LLC

John Hancock Distributors, LLC,

each open-end and closed-end fund advised by a John Hancock Adviser
(the “John Hancock Affiliated Funds”), and
John Hancock Worldwide Investors, PLC

(together, called “John Hancock”)

John Hancock is required by law to adopt a Code of Ethics. The purposes of a Code of Ethics are to ensure that companies and their “covered employees”1 comply with all applicable laws and to prevent abuses in the investment advisory business that can arise when conflicts of interest exist between the employees of an investment advisor and its clients. By adopting and enforcing a Code of Ethics, we strengthen the trust and confidence entrusted in us by demonstrating that at John Hancock, client interests come first.

The Code of Ethics (the “Code”) that follows represents a balancing of important interests. On the one hand, as registered investment advisers, the John Hancock Advisers owe a duty of undivided loyalty to their clients, and must avoid even the appearance of a conflict that might be perceived as abusing the trust they have placed in John Hancock. On the other hand, the John Hancock Advisers do not want to prevent conscientious professionals from investing for their own accounts where conflicts do not exist or that are immaterial to investment decisions affecting the John Hancock Advisers’ clients.

When conflicting interests cannot be reconciled, the Code makes clear that, first and foremost, covered employees owe a fiduciary duty to John Hancock clients. In most cases, this means that the affected employee will be required to forego conflicting personal securities transactions. In some cases, personal investments will be permitted, but only in a manner, which, because of the circumstances and applicable controls, cannot reasonably be perceived as adversely affecting John Hancock client portfolios or taking unfair advantage of the relationship John Hancock employees have to John Hancock clients.

The Code contains specific rules prohibiting defined types of conflicts. Since every potential conflict cannot be anticipated by the Code, it also contains general provisions prohibiting conflict situations. In view of these general provisions, it is critical that any covered employee who is in doubt about the applicability of the Code in a given situation seek a determination from Code of Ethics Administration or the Chief Compliance Officer about the propriety of the conduct in advance.

It is critical that the Code be strictly observed. Not only will adherence to the Code ensure that John Hancock renders the best possible service to its clients, it will help to ensure that no individual is liable for violations of law.

It should be emphasized that adherence to this policy is a fundamental condition of employment at John Hancock. Every covered employee is expected to adhere to the requirements of the Code despite any inconvenience that may be involved. Any covered employee failing to do so may be subject to disciplinary action, including financial penalties and termination of employment in conjunction with the John Hancock Schedule of Fines and Sanctions or as determined by Ethics Oversight Committee.

______________________
¹  “Covered employees” includes all “access persons” as defined under Securities and Exchange Commission (“SEC”) Rule 17j-1 under the Investment Company Act of 1940, as amended (the “1940 Act”), and “supervised persons” as defined under SEC Rule 204A-1 under the Investment Advisers Act of 1940, as amended (the “Advisers Act”).

Table of Contents
Section 1: General Principles	1
Section 2: To Whom Does This Code Apply?	2
Access Person Designations	2
Section 3: Which Accounts and Securities are Subject to the Code’s Personal Trading Restrictions?	3
Preferred Brokerage Account Requirements	6
Section 4: Overview of Policies	7
Section 5: Policies in the Code of Ethics	8
John Hancock Affiliated Funds Reporting Requirement and Holding Period	8
Pre-clearance Requirement of Securities Transactions	9
Pre-clearance of IPOs, Private Placements and Limited Offerings	9
Pre-clearance of MFC securities	10
Preclearance of Gifts and Donations of covered securities	10
Pre-clearance Process	10
Ban on Short-Term Profits	11
Ban on IPOs	11
Ban on Speculative Transactions in MFC	12
Ban on ownership of publicly traded securities of sub-advisers	12
Ban on Restricted Securities	13
Excessive Trading	13
Disclosure of Private Placement Conflicts	13
Seven Day Blackout Period	14
Three Day Blackout Period	14
Restriction on Securities under Active Consideration	15
Exceptions	15
De Minimis Trading Rule	15
Market Cap Securities Exception	15
Trading in Exchange Traded Funds/Notes and Options on covered securities	15
Section 6: Policies outside of the Code of Ethics	16
MFC Code of Business Conduct & Ethics	16
John Hancock Gift & Entertainment Policy	16
John Hancock Insider Trading Policy	17
John Hancock Whistleblower Policy	17
Policy and Procedures Regarding Disclosure of Portfolio Holdings	18
Section 7: Reports and Other Disclosures outside the Code of Ethics	19
Broker Letter/Duplicate Confirm Statements	19
Investment Professional Disclosure of Personal Securities Conflicts	19
Section 8: Reporting Requirements and Other Disclosures inside the Code of Ethics	20
Initial/Annual Brokerage Holdings Report	20
Quarterly Brokerage Account & Transaction Certification	20
Annual Certification of Code of Ethics	21
Reporting of Gifts, Donations, and Inheritances	22

i

Section 9: Subadviser Compliance	22
Adoption and Approval	22
Subadviser Reporting & Recordkeeping Requirements	23
Section 10: Reporting to the Board	23
Section 11: Reporting Violations	23
Section 12: Interpretation and Enforcement	24
Section 13: Exemptions & Appeals	25
Section 14: Education of Employees	27
Section 15: Recordkeeping	27
Appendix A: Access Person Categories	28
Appendix B: Preferred Brokers List	29
Appendix C: Pre-clearance Procedures	30
Appendix D: Other Important Policies Outside the Code	35
Appendix E:Investment Professional Disclosure of Personal Securities Conflicts	36
Appendix F: John Hancock Advisers Schedule of Fines and Sanctions	37
Appendix G: Chief Compliance Officers and Code of Ethics Contacts	38

ii

1)   General Principles

Each covered person within the John Hancock organization is responsible for maintaining the very highest ethical standards when conducting our business.

This means that:

• You have a fiduciary duty at all times to place the interests of our clients and fund investors first.

• All of your personal securities transactions must be conducted consistent with the provisions of the Code that apply to you and in such a manner as to avoid any actual or potential conflict of interest or other abuse of your position of trust and responsibility.

• You should not take inappropriate advantage of your position or engage in any fraudulent or manipulative practice (such as front-running or manipulative market timing) with respect to our clients’ accounts or fund investors.

• You must treat as confidential any information concerning the identity of security holdings and financial circumstances of clients or fund investors.

• You must comply with all applicable federal securities laws, which, for purposes of the Code, means the Securities Act of 1933, as amended (the “Securities Act”), the Securities Exchange Act of 1934, the Sarbanes-Oxley Act of 2002, the Investment Company Act of 1940 , the Investment Advisers Act of 1940, Title V of the Gramm-Leach-Bliley Act, any rules adopted by the SEC under any of these statutes, the Bank Secrecy Act as it applies to funds and investment advisers, and any rules adopted there under by the SEC or the Department of the Treasury.

• You must promptly report any violation of the Code that comes to your attention to the Chief Compliance Officer of your company – see Appendix G.

It is essential that you understand and comply with the general principles, noted above, in letter and in spirit as no set of rules can anticipate every possible problem or conflict situation.

As described in section 12: “Interpretation and Enforcement” on page 24 of the Code, failure to comply with the general principles and the provisions of the Code may result in disciplinary action, including termination of employment.

1

2) To Whom Does This Code Apply?

This Code applies to you if you are:

• a director, officer or other “Supervised Employee”2 of a John Hancock Adviser;

• an interested director, officer or access person3 of John Hancock Funds, LLC, John Hancock Distributors, LLC, or a John Hancock open-end or closed-end fund registered under the 1940 Act and are advised by a John Hancock Adviser;4

• an employee of Manulife Financial Corporation (“MFC”) or its subsidiaries who participates in making recommendations for, or receives information about, portfolio trades or holdings of the John Hancock Affiliated Funds. The preceding excludes John Hancock Asset Management (U.S.) and John Hancock Asset Management (N.A.), and Declaration Management and Research, LLC each of whom have adopted their own code of ethics in accordance with Rule 204A-1 under the Advisers Act.

Please note that if a policy described below applies to you, it also applies to all accounts over which you have a beneficial interest. Normally, you will be deemed to have a beneficial interest in your personal accounts, those of a spouse, "significant other," minor children or family members sharing the same household, as well as all accounts over which you have discretion or give advice or information. “Significant others” are defined for these purposes as two people who (1) share the same primary residence; (2) share living expenses; and (3) are in a committed relationship and intend to remain in the relationship indefinitely.

There are three categories for persons covered by the Code, taking into account their positions, duties and access to information regarding fund portfolio trades. You have been notified about which of these categories applies to you, based on Code of Ethics Administration’s understanding of your current role. If you have a level of investment access beyond your assigned category, or if you are promoted or change duties and as a result should more appropriately be included in a different category, it is your responsibility to notify Code of Ethics Administration.

Access Person Designations: The basic definitions of three categories, with examples, are provided below. The more detailed definitions of each category are attached as Appendix A.

_____________________

²   A “Supervised Employee” is defined by the Advisers Act to mean a partner, officer, director (or other person occupying a similar status or performing similar functions) or employee, as well as any other person who provides advice on behalf of the adviser and is subject to the adviser’s supervision and control. However, in reliance on the Prudential no-action letter, John Hancock does not treat as a “Supervised Employee” any of its “non-advisory personnel”, as defined below.

In reliance on the Prudential no-action letter, John Hancock treats as an “Advisory Person” any “Supervised Employee” who is involved, directly, or indirectly, in John Hancock Financial Services investment advisory activities, as well as any “Supervised Employee” who is an “Access Person.” John Hancock treats as “non-advisory personnel”, and does not treat as a “Supervised Person”, those individuals who have no involvement, directly or indirectly, in John Hancock investment advisory activities, and who are not “Access Persons.”

³   You are an “Access Person” if you are a “Supervised Person” who has access to non-public information regarding any client’s purchase or sale of securities, or non-public information regarding the portfolio holdings of any John Hancock Affiliated Fund, or who is involved in making securities recommendations to clients, or who has access to such recommendations that are non-public.

⁴   Disinterested Trustees of John Hancock open-end and closed-end funds registered under the 1940 Act and advised by a John Hancock Adviser are subject to a separate Code of Ethics adopted by the Board of Trustees.

2

“Access Level I” Investment Access	“Access Level II” Regular Access	“Access Level III” Periodic Access
A person who, in connection with his/her regular functions or duties, makes or participates in making recommendations regarding the purchase or sale of securities by the Fund or account. Examples: •Portfolio Managers •Analysts •Traders	A person who, in connection with his/her regular functions or duties, has regular access to nonpublic information regarding any clients' purchase or sale of securities, or nonpublic information regarding the portfolio holdings of any John Hancock Affiliated Fund or who is involved in making securities recommendations to clients, or who has regular access to such recommendations that are nonpublic Examples: •Office of the Chief Compliance Officer •Fund Administration •Investment Management Services, •Administrative Personnel for Access Level I Persons •Technology Resources Personnel •Private Client Group Personnel	A person who, in connection with his/her regular functions or duties, has periodic access to nonpublic information regarding any clients' purchase or sale of securities, or nonpublic information regarding the portfolio holdings of any John Hancock Affiliated Fund. Examples: •Legal Staff •Marketing •Product Development •E-Commerce •Corporate Publishing •Administrative Personnel for Access Level II Persons

3)Which Accounts and Securities are Subject to the Code’s Personal Trading Restrictions?

If the Code describes “Personal Trading Requirements” (i.e., John Hancock Mutual Fund reporting requirement and holding period, the pre-clearance requirement, the ban on short-term profits, the

ban on IPOs, the disclosure of private placement conflicts and the reporting requirements) that apply to your access category as described above, then the requirements apply to trades for any account in which you have a beneficial interest. Normally, this includes your personal accounts, those of a spouse, "significant other," minor children or family members sharing your household, as well as all accounts over which you have discretion or give advice or information. This includes all brokerage accounts that contain securities (including brokerage accounts that only contain securities exempt from reporting, e.g., brokerage accounts holding shares of non- affiliated mutual funds).

This also includes all accounts holding John Hancock Affiliated Funds as well as accounts in the MFC Global Share Ownership Plan.

3

Accounts over which you have no direct or indirect influence or control are exempt. To prevent potential violations of the Code, you are strongly encouraged to request clarification for any accounts that are in question.

These personal trading requirements do not apply to the following securities:

• Direct obligations of the U.S. government (e.g., treasury securities) and indirect obligations of the U.S. government having less than one year to maturity;

• Bankers’ acceptances, bank certificates of deposit, commercial paper, and high quality short-term debt obligations, including repurchase agreements;

• Shares issued by money market funds and all other open-end mutual funds registered under the 1940 Act that are not advised or subadvised by a John Hancock Adviser or another Manulife entity5;

• Commodities and options and futures on commodities;

• Swaps on commodities; and

• Securities in accounts over which you have no direct or indirect influence or control. For discretionary accounts this is defined as:

1) Not being able to suggest that the trustee or third-party discretionary manager make any particular purchases or sales of securities;

2) Not being able to direct the trustee or third-party discretionary manager to make any particular purchases or sales of securities; and

3) You did not consult with the trustee or third-party discretionary manager as to the particular allocation of investments to be made in your account.

Except as noted above, the Personal Trading Requirements apply to all securities, including:

• Stocks; including MFC Shares held in your Global Share Ownership Plan

• Bonds;

• Government securities that are not direct obligations of the U.S. government, such as Fannie Mae, or municipal securities, in each case that mature in more than one year;

• John Hancock Affiliated Funds;4

• Closed-end funds;

• Options on securities, on indexes, and on currencies;

• Swaps on securities, on indexes, and on currencies;

• Limited partnerships;

• Exchange traded funds and notes;

• Domestic unit investment trusts;

• Non-US unit investment trusts and Non-US mutual funds;

• Private investment funds and hedge funds; and

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• Futures, investment contracts or any other instrument that is considered a “security” under the Securities Act of 1933.

______________________
⁴  Different requirements apply to shares of John Hancock Affiliated Funds. See the section titled “Reporting Requirement and Holding Period for positions in John Hancock Affiliated Funds” on page 7 of this Code. A list of Affiliated Funds can be found within the document section of your employee work center on the Personal Trade Control Center System (PTCC)

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Preferred Brokerage Account Requirements:

This rule applies to new access persons commencing employment after January 1, 2008, plus any new brokerage accounts established by existing access persons.

While employed by John Hancock, you must maintain your accounts at one of the preferred brokers approved by John Hancock. Please find the list of preferred brokers in Appendix B.

Exceptions: With approval from Code of Ethics Administration, you can maintain a brokerage account at a broker-dealer other than the ones listed above if any of the following applies:

• it contains only securities that can't be transferred;

• it exists solely for products or services that one of the above broker/dealers cannot provide;

• it exists solely because your spouse's or significant other’s employer also prohibits external covered accounts;

• it is managed by a third-party registered investment adviser;

• it is restricted to trading interests in non-Hancock 529 College Savings Plans;

• it is associated with an ESOP (employee stock option plan) or an ESPP (employee stock purchase plan) in which a related covered person is the participant;

• it is required by a direct purchase plan, a dividend reinvestment plan, or an automatic investment plan with a public company in which regularly scheduled investments are made or planned;

• it is required by a trust agreement;

• it is associated with an estate of which you are the executor, but not a beneficiary, and your involvement with the account is temporary; or

• transferring the account would be inconsistent with other applicable rules.

What do I need to do to comply?

Upon designation as an Access Person, you have 45 calendar days to (i) qualify any non-compliant account as an exempt account or (ii) transfer all assets to a preferred broker and close the non- compliant account. You will need to contact Code of Ethics Administration to obtain an exemption request form to submit a request for permission to maintain a brokerage account with a broker/dealer not on John Hancock’s preferred broker list.

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4)   Overview of Policies

	Access Level I Person	Access Level II Person	Access Level III Person
General principles	Yes	Yes	Yes
Reporting requirement and holding period for positions in John Hancock Affiliated Funds	Yes	Yes	Yes
Pre-clearance requirement	Yes	Yes	Limited
Pre-clearance requirement for initial public offerings (“IPOs”)	Prohibited	Yes	Yes
Pre-clearance requirement on private placements/ limited offerings	Yes	Yes	Yes
Ban on IPOs	Yes	No	No
Ban on short-term profits	Yes	Yes	No
Fund trade blackout period rule	Yes	Yes	No
Ban on speculative trading in MFC stock	Yes	Yes	Yes
Ban on ownership of publicly traded subadvisers and controlling parent	Yes	Yes	No
Reporting of gifts, donations, and inheritances	Yes	Yes	Yes
Duplicate confirms & statements	Yes	Yes	Yes
Initial & annual certification of the Code	Yes	Yes	Yes
Initial & annual holdings reporting	Yes	Yes	Yes
Quarterly personal transaction reporting	Yes	Yes	Yes
Disclosure of private placement conflicts	Yes	No	No
MFC Code of Business Conduct & Ethics John Hancock Gift & Entertainment Policy for the Advisers John Hancock Insider Trading Policy	Yes	Yes	Yes
	Yes	Yes	Yes
	Yes	Yes	Yes

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John Hancock Whistleblower Policy for the Advisers Policy and Procedures Regarding Disclosure of Portfolio Holdings Investment Professional Personal Security Ownership Disclosure	Yes	Yes	Yes
	Yes	Yes	Yes
	Yes	No	No

5)   Policies in the Code of Ethics

John Hancock Affiliated Funds Reporting Requirement and Holding Period

Applies to: All Access Levels

You must follow the reporting requirement and the holding period requirement specified below if you purchase either:

•a “John Hancock Mutual Fund” (i.e., a 1940 Act mutual fund that is advised or sub-advised by a John Hancock Adviser or by another Manulife entity); or

•a “John Hancock Variable Product” (i.e., contracts funded by insurance company separate accounts that use one or more portfolios of John Hancock Variable Insurance Trust).

The reporting requirement and the holding period requirement for positions in John Hancock Affiliated Funds do not include John Hancock money market funds and any dividend reinvestment, payroll deduction, systematic investment/withdrawal and/or other program trades.

Reporting Requirement: You must report your holdings and your trades in a John Hancock

Affiliated Fund held in an outside brokerage account. This is not a pre-clearance requirement—you can report your holdings after you trade by submitting duplicate confirmation statements to Code of Ethics Administration. You must also make sure that your holdings in a John Hancock Affiliated Fund are included in your Initial Holdings Report (upon hire or commencement of access designation).

If you purchase a John Hancock Variable Product, you must notify Code of Ethics Administration of your contract or policy number.

Code of Ethics Administration will rely on the operating groups of the John Hancock Affiliated Funds for administration of trading activity, holdings and monitoring of market timing policies;. i.e. John Hancock Signature Services, Inc. and the contract administrators supporting the John Hancock variable products, for the retail mutual funds and registered insurance products, respectively.

Holding Requirement: You cannot profit from the purchase and sale of a John Hancock Mutual Fund within 30 calendar days. The purpose of this policy is to address the risk, real or perceived, of manipulative market timing or other abusive practices involving short-term personal trading in the John Hancock Affiliated Funds. Any profits realized on short-term trades must be surrendered by check payable to John Hancock Advisers, LLC, which will be contributed to a charity of its choice. You may request an exemption from this policy for involuntary sales due to unforeseen corporate

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activity (such as a merger), or for sales due to hardship reasons (such as unexpected medical expenses) by sending an e-mail to the Chief Compliance Officer of your company.

A list of Affiliated Funds can be found within the document section of your employee work center on the Personal Trade Control Center System (PTCC)

Pre-clearance Requirement of Securities Transactions

Applies to:	Access Level I Persons, Access Level II Persons
Also, for a limited category of trades:
	Access Level III Persons

Access Level I Persons and Access Level II Persons: If you are an Access Level I Person or Access Level II Person, you must “pre-clear” (i.e., receive advance approval of) any personal securities transactions in the categories described in section 3: “Which Accounts and Securities are Subject to the Code’s Personal Trading Restrictions” on page 4 of the Code.

Due to this pre-clearance requirement, participation in investment clubs and special orders, such as “good until canceled orders” and “limit orders,” are prohibited.

Place day orders only, i.e., orders that automatically expire at the end of the trading session. Be sure to check the status of all orders at the end of the trading day and cancel any orders that have not been executed. If any Access Person leaves an order open and it is executed the next day (or later), the transaction will constitute a violation of the Code by the Access

Person.

Limited Category of Trades for Access Level III Persons: If you are an Access Level III Person, you must pre-clear transactions in securities of any closed-end funds and exchange traded funds advised by a John Hancock Adviser, as well as transactions in IPOs, private placements and limited offerings. An Access level III Person is not required to pre-clear other trades. However, please keep in mind that an Access level III Person is required to report covered securities transactions after every trade (even those that are not required to be pre-cleared) by requiring your broker to submit duplicate confirmation statements, as described in section 7: “Reports and Other Disclosures outside the Code of Ethics.”

Pre-clearance of IPOs, Private Placements and Limited Offerings Pre-clearance requests for these securities require some special considerations—the decision will take into account whether, for example: (1) the investment opportunity should be reserved for John Hancock clients; and (2) is it being offered to you because of your position with John Hancock. A separate procedure should be followed for requesting pre-clearance on these securities. See Appendix C.

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Pre-clearance of MFC securities:

Applies to: Access Level I Persons, Access Level II Persons

All personal transactions in MFC securities including stock, company issued options, sell transactions in the MFC Global Share Ownership Plan, and any other securities such as debt must be pre-cleared.

Preclearance of Gifts and Donations of covered securities:

Applies to: Access Level I Persons, Access Level II Persons

If you gift or donate shares of a reportable security it is considered a sale and you must receive preclearance approval. You must also ensure that the transaction is properly reported on your next quarterly transaction certification.

If denied, relief may be available with appeal to Code of Ethics Administration.

Pre-clearance Process:

You may pre-clear a trade through the Personal Trading Control Center (PTCC) System by following the steps outlined in the pre-clearance procedures, which are attached in Appendix C.

Please note that:

•You may not trade until clearance approval is received.

•Clearance approval is valid only for the date granted (i.e. the pre-clearance requested date and the trade date should be the same).

•A separate procedure should be followed for requesting pre-clearance of an IPO, a private placement, a limited offering as detailed in Appendix C.

Code of Ethics Administration must maintain a five-year record of all pre-clearances of private placement purchases by Access Level I Persons, and the reasons supporting the clearances.

The pre-clearance policy is designed to proactively identify potential “problem trades” that raise front-running, manipulative market timing or other conflict of interest concerns (example: when an Access Level II Person trades a security on the same day as a John Hancock Affiliated Fund).

Certain transactions in securities that would normally require pre-clearance are exempt from the pre- clearance requirement in the following situations: (1) shares are being purchased as part of an automatic investment plan; (2) shares are being purchased as part of a dividend reinvestment plan; or (3) transactions are being made in an account over which you have designated a third party as having sole discretion to trade (you must have approval from the Chief Compliance Officer to establish a discretionary account).

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Ban on Short-Term Profits

Applies to: Access Level I Persons, Access Level II Persons

If you are an Access Level I Person or Access Level II Person, you cannot profit from the purchase and sale (or sale and purchase) of the same (or equivalent) securities within 60 calendar days. This applies to any personal securities trades in the categories described in section 3: “Which Accounts and Securities are Subject to the Code’s Personal Trading Restrictions” on page 4 of the Code, except for personal security trades of John Hancock Affiliated Funds which you cannot profit from within 30 days.

You may invest in derivatives, excluding certain equity options on MFC securities⁶ or sell short provided the transaction period exceeds the 60-day holding period

Remember, if you donate or gift a security, it is considered a sale and is subject to this rule.

This restriction does not apply to trading within a sixty calendar day period if you do not realize a profit.

The purpose of this policy is to address the risk, real or perceived, of front-running, manipulative market timing or other abusive practices involving short-term personal trading. Any profits in excess of $100.00 realized on short-term trades must be surrendered by check payable to John Hancock Advisers, LLC, which will be contributed to a charity of its choice

You may request an exemption from this policy for involuntary sales due to unforeseen corporate activity (such as a merger), or for sales due to hardship reasons (such as unexpected medical expenses) from Code of Ethics Administration. In addition, transactions in securities with the following characteristics will typically be granted an exemption from this provision.

Market Cap Securities Exception: Pre-clearance requests in a security with a market capitalization of $5 billion or more would in most cases not be subject to the Ban on Short Term Profits because management has determined that transactions in these types of companies do not typically present any conflict of interest to the John Hancock Affiliated Funds.

Ban on IPOs

Applies to: Access Level I Persons

If you are an Access Level I Person, you may not acquire securities in an IPO. You may not purchase any newly-issued securities until the next business (trading) day after the offering date. This applies to any personal securities trades in the categories described above in section 3: “Which Accounts and Securities are Subject to the Code’s Personal Trading Restrictions.”

There are two main reasons for this prohibition: (1) these purchases may suggest that persons have taken inappropriate advantage of their positions for personal profit; and (2) these purchases may

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create at least the appearance that an investment opportunity that should have been available to the John Hancock Affiliated Funds was diverted to the personal benefit of an individual employee.

You may request an exemption for certain investments that do not create a potential conflict of interest, such as: (1) securities of a mutual bank or mutual insurance company received as compensation in a demutualization and other similar non-voluntary stock acquisitions; (2) fixed rights offerings; or (3) a family member’s participation as a form of employment compensation in their employer’s IPO.

Ban on Speculative Transactions in MFC

Applies to: All Access Levels

All covered employees under this code are prohibited from engaging in speculative transactions involving securities of MFC, since these transactions might be seen as evidencing a lack of confidence in, and commitment to, the future of MFC or as reducing the incentive to maximize the performance of MFC and its stock price. Accordingly, all covered employees, as well as their family members, are prohibited from entering into any transaction involving MFC securities for their personal account which falls into the following categories:

1. Short sales of MFC securities

2. Buying put options or selling call options on MFC securities

Ban on ownership of securities of subadvisers

Applies to: Access Level I and Access Level II Persons

As an Access Level I or Access Level II Person you are prohibited from purchasing securities of any subadviser of a John Hancock Affiliated Fund.

MFC securities are excluded from this prohibition for Access Level I & Access Level II Persons.

The current subadvisers that are prohibited are Pzena Investment Management, Inc. (PZN) and T. Rowe Price Group, Inc. (TROW).

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Ban on Restricted Securities

Applies to: All Access Levels

No pre-clearance will be approved for securities appearing on the John Hancock Restricted List. Securities are placed on the Restricted List if:

§ John Hancock or a member of John Hancock has received material non-public inside information on a security or company; or

§ In the judgment of the Legal Department, or Chief Compliance Officer circumstances warrant addition of a security to this list

The Restricted List is a confidential list of companies that is maintained for those access persons subject to this Code after taking into consideration the applicability of other restricted lists among the affiliated advisers.

Excessive Trading

Applies to: All Access Levels

While active personal trading may not in and of itself raise issues under applicable laws and regulations, we believe that a very high volume of personal trading can be time consuming and can increase the possibility of actual or apparent conflicts with portfolio transactions. Accordingly, an unusually high level of personal trading activity is strongly discouraged and may be monitored by Code of Ethics Administration to the extent appropriate for the category of person, and a pattern of excessive trading may lead to the taking of appropriate action under the Code.

An Access Person effecting more than 45 trades in a quarter, or redeeming shares of a John Hancock Affiliated Fund within 30 days of purchase, should expect additional scrutiny of his or her trades and he or she may be subject to limitations on the number of trades allowed during a given period.

Disclosure of Private Placement Conflicts

Applies to: Access Level I Persons

If you are an Access Level I Person and you own securities purchased in a private placement, you must disclose that holding when you participate in a decision to purchase or sell that same issuer’s securities for a John Hancock Affiliated Fund. This applies to any private placement holdings in the categories described above in section 3: “Which Accounts and Securities are Subject to the Code’s Personal Trading Restrictions” on page 4 of the Code. Private placements are securities exempt from SEC registration under section 4(2), section 4(6) and/or rules 504 –506 under the Securities Act.

The investment decision must be subject to an independent review by investment personnel with no personal interest in the issuer.

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The purpose of this policy is to provide appropriate scrutiny in situations in which there is a potential conflict of interest.

Seven Day Blackout Period

Applies to: Access Level I Persons

An Access Level I Person is prohibited from buying or selling a security within seven calendar days before and after that security is traded for a fund that the Person manages unless no conflict of interest exists in relation to that security as determined by Code of Ethics Administration. If a conflict exists, Code of Ethics will report conflict to Ethics Oversight Committee for review.

In addition, Access Level I Persons are prohibited from knowingly buying or selling a security within seven calendar days before and after that security is traded for a John Hancock Affiliated Fund unless no conflict of interest exists in relation to that security. This applies to any personal securities trades in the categories described above in section 3: “Which Accounts and Securities are Subject to the Code’s Personal Trading Restrictions” on page 4 of the Code. If a John Hancock Affiliated Fund trades in a security within seven calendar days before or after an Access Level I Person trades in that security, the Person may be required to demonstrate that he or she did not know that the trade was being considered for that John Hancock Affiliated Fund.

You will be required to sell any security purchased in violation of this policy unless it is determined that no conflict of interest exists in relation to that security (as determined by Code of Ethics Administration Any profits realized on trades determined by Code of Ethics Administration to be in violation of this policy must be surrendered by check payable to John Hancock Advisers, LLC, which will be contributed to a charity of its choice.

Three Day Blackout Period

Applies to: Access Level II Persons

An Access Level II Person is prohibited from knowingly buying or selling a security within three calendar days before and after that security is traded for a John Hancock Affiliated Fund unless no conflict of interest exists in relation to that security as determined by Code of Ethics Administration which essentially requires the access person to demonstrate that they were not aware of the trade being considered for the John Hancock Affiliated Fund.

If a conflict exists, Code of Ethics will report the conflict to the CCO or his or her designee. The CCO will then determine if the matter should be brought to the attention of the Ethics Oversight Committeefor review.

This applies to any personal securities trades in the categories described above in section 3: “Which Accounts and Securities are Subject to the Code’s Personal Trading Restrictions” on page 4 of the Code.

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You will be required to sell any security purchased in violation of this policy unless it is determined that no conflict of interest exists in relation to that security as determined Code of Ethics Administration. Any profits realized on trades determined to be in violation of this policy must be surrendered by check payable to John Hancock Advisers, LLC, which will be contributed to a charity of its choice.

Restriction on Securities under Active Consideration

Applies to: Access Level I & Access Level II Persons

Access Level I Persons and Access Level II Persons are prohibited from buying or selling a security if the security is being actively traded by a John Hancock Affiliated Fund.

Exceptions:

The Personal Trading and Reporting System will utilize the following exception criteria when determining approval or denial of pre-clearances requests:

De Minimis Trading Rule: Pre-clearance requests for 500 shares or less of a particular security with a market value of $25,000.00 or less, aggregated daily, would, in most cases, not be subject to the blackout period restrictions and the restriction on actively traded securities because management has determined that transactions of this size do not typically present any conflict of interest as long as the requestor is not associated with the conflicting fund or account.

Market Cap Securities Exception: Pre-clearance requests in a security with a market capitalization of $5 billion or more would in most cases except where another conflict occurs such as frontrunning violation, not be subject to the blackout period restrictions and the restriction on actively traded securities because management has determined that transactions in these types of companies do not typically present any conflict of interest as long as the requestor is not associated with the conflicting fund or account.

Trading in Exchange Traded Funds/Notes and Options on covered securities

Exchange Traded Funds, Exchange Traded Notes and Options on covered securities are required to receive pre-clearance approval prior to trading. However if the Exchange Traded Fund/Note or Option has an average market capitalization of $5 billion or more; or is based on a non-covered security; or is based on one of the following broad based indices it will be treated as a market cap exception security, in each case provided it is not a John Hancock Affiliated Fund.

• the S&P 100, S&P Midcap 400, S&P 500, FTSE 100, and Nikkei 225;

• Direct obligations of the U.S. Government (e.g., treasury securities)

• Indirect obligations of the U.S. Government with a maturity of less than 1 year (GNMA)

• Commodities;

• Foreign currency

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6)   Policies Outside of the Code of Ethics

The John Hancock Affiliated Funds have certain policies that are not part of the Code, but are equally important:

MFC Code of Business Conduct & Ethics

Applies to: All Covered Employees

The MFC Code of Business Conduct and Ethics (the “MFC Code”) provides standards for ethical behavior when representing the Company and when dealing with employees, field representatives, customers, investors, external suppliers, competitors, government authorities and the public.

The MFC Code applies to directors, officers and employees of MFC, its subsidiaries and controlled affiliates. Sales representatives and third party business associates are also expected to abide by all applicable provisions of the MFC Code and adhere to the principles and values set out in the MFC Code when representing Manulife to the public or performing services for, or on behalf of, Manulife.

Other important issues in the MFC Code include:

§ MFC values – P.R.I.D.E.;

§ Ethics in workplace;

§ Ethics in business relationships;

§ Misuse of inside information;

§ Receiving or giving of gifts, entertainment or favors;

§ Misuse or misrepresentation of your corporate position;

§ Disclosure of confidential or proprietary information;

§ Disclosure of outside business activities;

§ Antitrust activities; and

§ Political campaign contributions and expenditures relating to public officials.

John Hancock Gift & Entertainment Policy

Applies to: All Covered Employees

You are subject to the Gift and Entertainment Policy for the John Hancock Advisers which is designed to prevent the appearance of an impropriety, potential conflict of interest or improper payment.

The Gift & Entertainment Policy covers many issues relating to giving and accepting of gifts and entertainment when dealing with business partners, such as:

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§ Gift & Business Entertainment Limits

§ Restrictions on Gifts & Entertainment

§ Reporting of Gifts & Entertainment

John Hancock Insider Trading Policy

Applies to: All Covered Employees

The antifraud provisions of the federal securities laws generally prohibit persons with material non- public information from trading on or communicating the information to others. Sanctions for violations can include civil injunctions, permanent bars from the securities industry, civil penalties up to three times the profits made or losses avoided, criminal fines and jail sentences. While Access Level I Persons are most likely to come in contact with material non-public information, the rules (and sanctions) in this area apply to all persons covered under this code and extend to activities both related and unrelated to your job duties.

The John Hancock Insider Trading Policy (the “Insider Trading Policy”) covers a number of important issues, such as:

• Possession of material non-public information

• The misuse of material non-public information

• Restricting access to material nonpublic information

John Hancock Whistleblower Policy

Applies to: All Covered Employees

The Audit Committee of the mutual funds’ Board of Trustees investigates improprieties or suspected improprieties in the operations of a fund and has established procedures for the confidential, anonymous submission by employees of John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC. (collectively the “Advisers”) or any other provider of accounting related services, of complaints regarding accounting, internal accounting controls, auditing matters or violations of securities law.

The objective of this policy is to provide a mechanism by which complaints and concerns regarding accounting, internal accounting controls, auditing matters or violations of securities law may be raised and addressed without the fear or threat of retaliation. The funds desire and expect that the employees and officers of the Advisers, or any other service provider to the funds will report any complaints or concerns they may have regarding accounting, internal accounting controls or auditing matters.

Persons may submit complaints or concerns to the attention of funds’ Chief Compliance Officer by sending a letter or other writing to the funds’ principal executive offices, by telephone call to or an email to the Ethics Hotline, Ethics Hotline can be reached at 1-866-294-9534, or through the Ethicspoint website at www.manulifeethics.com. The Ethics Hotline and Ethicspoint website are operated by an independent third party, which maintains the anonymity of all complaints.

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Complaints and concerns may be made anonymously to the funds’ Chief Compliance Officer. In addition any complaints or concerns may also be communicated anonymously, directly to any member of the Audit Committee.

Policy and Procedures Regarding Disclosure of Portfolio Holdings

Applies to: All Covered Employees

It is our policy not to disclose nonpublic information regarding Fund portfolio holdings except in the limited circumstances noted in this Policy. You can only provide nonpublic information regarding portfolio holdings to any person, including affiliated persons, on a “need to know” basis (i.e., the person receiving the information must have a legitimate business purpose for obtaining the information prior to it being publicly available and you must have a legitimate business purpose for disclosing the information in this manner). We consider nonpublic information regarding Fund portfolio holdings to be confidential and the intent of the policy and procedures is to guard against selective disclosure of such information in a manner that would not be in the best interest of Fund shareholders.

A listing of other corporate and divisional policies with which you should be familiar is listed in Appendix D.

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7)   Reports and Other Disclosures outside the Code of Ethics

Broker Letter/Duplicate Confirm Statements

Applies to: All Access Levels

In accordance with Rule 17j-1(d) (2) under the 1940 Act and Rule 204A-1(b) under the Advisers Act, you are required to report to Code of Ethics Administration each transaction in any reportable security. This applies to any personal securities trades in the categories described above in section 3: “Which Accounts and Securities are Subject to the Code’s Personal Trading Restrictions” on page 3 of the Code, as well as trades in John Hancock Affiliated Funds.

To comply with these rules noted above you are required by this Code and by the Insider Trading Policy to inform your broker-dealer that you are employed by a financial institution. Your broker-dealer is subject to certain rules designed to prevent favoritism toward your accounts. You may not accept negotiated commission rates that you believe may be more favorable than the broker grants to accounts with similar characteristics.

When a brokerage account in which you have a beneficial interest is opened you must do the following before any trades are made:

• Notify the broker-dealer with which you are opening an account that you are an employee of John Hancock;

• Notify the broker-dealer if you are registered with the Financial Industry Regulatory Authority (the successor to the National Association of Securities Dealers) or are employed by John Hancock Funds, LLC or John Hancock Distributors, LLC

• Notify Code of Ethics Administration, in writing, to disclose the new brokerage account before you place any trades,

Code of Ethics Administration will notify the broker-dealer to have duplicate confirmations of any trade, as well as statements or other information concerning the account, sent to John Hancock Financial Services Attention: General Funds Compliance, 197 Clarendon Street, C-03-13, Boston, MA 02116

Code of Ethics Administration may rely on information submitted by your broker as part of your reporting requirements under the Code.

Investment Professional Disclosure of Personal Securities Conflicts

Applies to: Access Level I

As an investment professional, you must promptly disclose your direct or indirect beneficial interest in a security that is under consideration for purchase or sale in a John Hancock Affiliated Fund or account. See Appendix E.

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8) Reporting Requirements and Other Disclosures inside the Code of Ethics

Initial/Annual Brokerage Holdings Report

Applies to: All Access Levels

In accordance with Rule 17j-1(d) under the 1940 Act and Rule 204A-1(b) under the Advisers Act; you must file an initial holdings report within 10 calendar days after becoming an Access Person. The information must be current as of a date no more than 45 days prior to your becoming an Access Person.

In addition, on an annual basis you must also certify to an annual holdings report within 45 calendar days after the required certification date determined by Code of Ethics Administration. The information in the report must be current as of a date no more than 45 days prior to the date the report is submitted. This applies to any personal securities holdings in the categories described in section 3: “Which Accounts and Securities are Subject to the Code’s Personal Trading Restrictions” found on page 3 of the Code. It also includes holdings in John Hancock Affiliated Funds, including holdings in the John Hancock 401(k) plan.

You will receive an annual holdings certification request from Code of Ethics Administration. Your annual holdings certification requirement will ask you to log into the Personal Trading Control Center (PTCC), https://hancock.complysci.com to certify that the system has accurately captured all your reportable security holdings as of the certification date.

Holdings in John Hancock Affiliated Funds & Variable Products must be reported, regardless of where they are held.

Holdings in your Global Share Ownership program of Manulife Financial Corporation, Inc. (MFC) stock must be reported.

Even if you have no holdings to report you will be asked to complete this requirement.

Quarterly Brokerage Account & Transaction Certification

Applies to: All Access Levels

In accordance with Rule 17j-1(d) under the 1940 Act and Rule 204A-1(b) under the Advisers Act, on a quarterly basis, all access persons are required to certify to a listing of brokerage accounts and all transactions in these brokerage accounts, as well as transactions in John Hancock Affiliated Funds, have been effected in accordance with the Code. Within 30 calendar days after the end of each calendar quarter, you will be asked to log into the Personal Trading Control Center (PTCC) System to certify that the system has accurately captured all brokerage accounts and the covered security transactions in these accounts for the preceding calendar quarter.

All transactions in John Hancock Affiliated Funds and Variable Products must be reported.

Only voluntary transactions, such as fund exchanges, need to be reported for transactions in your John Hancock 401(k) Savings account.

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Global Share Ownership Plan:

Only sell transactions of MFC stock in your Global Share Ownership plan need to be reported.

Even if you have no accounts or transactions to report you will be asked to complete the certification.

For each contract or account you must certify that the following information is captured accurately:

• Account number

• Account registration

• Brokerage Firm

For each transaction required to be reported you must certify the following information was captured accurately:

• the date of the transaction, the title, and as applicable the exchange ticker symbol or CUSIP number, interest rate and maturity date, number of shares, and principal amount of each reportable security involved;

• the nature of the transaction (i.e. purchase, sale or any other type of acquisition or disposition);

• the price at which the transaction was effected;

• the name of the broker, dealer or bank with or through which the transaction was effected; and

Annual Certification of Code of Ethics

Applies to: All Access Levels

At least annually (or additionally when the Code has been materially changed), you must provide a certification at a date designated by Code of Ethics Administration that you:

(1) have read and understood the Code;

(2) recognize that you are subject to its policies; and

(3) have complied with its requirements.

You are required to make this certification to demonstrate that you understand the importance of these policies and your responsibilities under the Code.

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Reporting of Gifts, Donations, and Inheritances

Applies to: All Access Levels

• For Access Level III Persons: If you gift or donate shares of a reportable security it is considered a sale and you must notify Code of Ethics Administration of the gift or donation on the date given. You must also make sure the transaction is properly reported on your next quarterly transaction certification.

• If you receive a gift or inherit a reportable security you must report the new holding to Code of Ethics Administration within 30 days of receipt and you must ensure the holding is properly reported on your next annual holdings certification.

9)   Subadviser Compliance

A subadviser to a John Hancock Affiliated Fund has a number of code of ethics responsibilities:

• The sub-adviser must have adopted their own code of ethics in accordance with Rule 204A-1(b) under the Advisers Act which has been approved by the Board of Trustees

• On a quarterly basis, each sub-adviser certifies compliance with their code of ethics or reports material violations if such have occurred; and

• Each sub-advisor must report quarterly to the Chief Compliance Officer, any material changes to its code of ethics

Adoption and Approval

The Board of a John Hancock Affiliated Fund, including a majority of the Fund’s Independent Board Members, must approve the code of ethics of the Fund’s adviser, subadviser or principal underwriter (if an affiliate of the underwriter serves as a Board member or officer of the Fund or the adviser) before initially retaining its services.

Any material change to a code of ethics of a subadviser to a fund must be approved by the Board of the John Hancock Affiliated Fund, including a majority of the Fund’s Independent Board Members, no later than six months after adoption of the material change.

The Board may only approve the code if they determine that the code:

• contains provisions reasonably necessary to prevent the subadviser’s Access Persons (as defined in Rule 17j-1 under the 1940 Act and Rule 204A-1 under the Advisers Act) from engaging in any conduct prohibited by Rule 17j-1 and 204A-1;

• requires the subadviser’s Access Persons to make reports to at least the extent required in Rule 17j-1(d) and Rule 204A-1(b);

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• requires the subadviser to institute appropriate procedures for review of these reports by management or compliance personnel (as contemplated by Rule 17j-1(d)(3) and Rule 204 A- 1(a)(3);

• provides for notification of the subadviser’s Access Persons in accordance with Rule 17j-1(d)(4) and Rule 204A-1(a)(5);

• requires the subadviser’s Access Persons who are Investment Personnel to obtain the pre- clearances required by Rule 17j-1(e); and

• requires the subadviser’s Access Persons to obtain the pre-clearances required by Rule 204A- 1(c)

The Chief Compliance Officer of the John Hancock Affiliated Funds oversees each of the fund’s sub-adviser’s to ensure compliance with each of the provisions included in this section.

Subadviser Reporting & Recordkeeping Requirements

Each subadviser completes an annual Code of Ethics questionnaire and certification as to their compliance under Rule 17j-1 and summary of any violation to the relevant John Hancock Adviser, whom present summaries to the Board of Trustees during their June meeting.

10)  Reporting to the Board

No less frequently than annually, the Office of the CCO will furnish to the Board of Trustees a written report that:

•describes issues that arose during the previous year under the code of ethics or the related procedures, including, but not limited to, information about material code or procedure violations, as well as any sanctions imposed in response to the material violations, and

•certifies that each entity, including the subadvisers have adopted procedures reasonably necessary to prevent its Access Persons from violating its code of ethics.

•Any material changes to the Code are presented to the Trustees within six month for their approval.

11)  Reporting Violations

If you know of any violation of the Code, you have a responsibility to promptly report it to the Chief Compliance Officer of your company. You should also report any deviations from the controls and procedures that safeguard John Hancock and the assets of our clients.

Since we cannot anticipate every situation that will arise, it is important that we have a way to approach questions and concerns. Always ask first, act later. If you are unsure of what to do in any situation, seek guidance before you act.

Speak to your manager, a member of the Human Resources Department or Law Department or your divisional compliance officer if you have:

- a doubt about a particular situation;

- a question or concern about a business practice; or

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- a question about potential conflicts of interest

You may report suspected or potential illegal or unethical behavior without fear of retaliation. John Hancock does not permit retaliation of any kind for good faith reports of illegal or unethical behavior.

Concerns about potential or suspected illegal or unethical behavior should be referred to a member of the Human Resources or Law Department.

Unethical, unprofessional, illegal, fraudulent or other questionable behavior may also be reported by calling a confidential toll free Ethics Hotline or at www.ManulifeEthics.com.

Ethics Hotline can be reached at 1-866-294-9534.

12)  Interpretation and Enforcement

The Code cannot anticipate every situation in which personal interests may be in conflict with the interests of our clients and fund investors. You should be responsive to the spirit and intent of the Code as well as its specific provisions.

When any doubt exists regarding any Code provision or whether a conflict of interest with clients or fund investors might exist, you should discuss the situation in advance with the Chief Compliance Officer of your company. The Code is designed to detect and prevent fraud against clients and fund investors, and to avoid the appearance of impropriety.

The Chief Compliance Officer has general administrative responsibility for the Code as it applies to the covered employees; an appropriate member of Code of Ethics Administration will administer procedures to review personal trading activity. Code of Ethics Administration also regularly reviews the forms and reports it receives. If these reviews uncover information that is incomplete, questionable, or potentially in violation of the rules in this document, Code of Ethics Administration will investigate the matter and may contact you.

The Board of the John Hancock Affiliated Funds approve material amendments to the Code and authorize sanctions imposed on Access Persons of the Funds. Accordingly, Code of Ethics Administration will refer violations to the CCO of the Trust/Adviser for further review and action, including determination if the matter should be presented to the Ethics Oversight Committee and/or the Board of Trustees for recommended action based on the John Hancock Advisers Schedule of Fines and Sanctions. See Appendix F.

The following factors will be considered when determining a fine or other disciplinary action:

• the person's position and function (senior personnel may be held to a higher standard);

• the amount of the trade;

• whether the John Hancock Affiliated Funds hold the security and were trading the same day;

• whether the violation was by a family member;

• whether the person has had a prior violation and which policy was involved; and

• whether the employee self-reported the violation.

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John Hancock takes all rule violations seriously and, at least once a year, provides the Board of the John Hancock Affiliated Funds with a summary of all material violations and sanctions, significant conflicts of interest and other related issues for their review. Sanctions for violations could include (but are not limited to) fines, limitations on personal trading activity, suspension or termination of the violator's position with John Hancock and/or a report to the appropriate regulatory authority.

You should be aware that other securities laws and regulations not addressed by the Code may also apply to you, depending on your role at John Hancock.

The CCO of the Adviser/Trust and the Ethics Oversight Committee retain the discretion to interpret the Code’s provisions and to decide how they apply to any given situation.

13)  Exemptions & Appeals

Exemptions to the Code may be granted by the Chief Compliance Officer where supported by applicable facts and circumstances. If you believe that you have a situation that warrants an exemption to the any of the rules and restrictions of this Code you need to complete a “Code of Ethics Exemption Request Form” to request approval from the Chief Compliance Officer.

Exemption requests which pose a conflict of interest for the Chief Compliance Officer will be escalated to the Ethics Oversight Committee for review and consideration.

Sole discretion Exemption: A transaction does not need to be pre-cleared if it takes place in an account that the CCO of the Adviser/Trust has approved in writing as exempt from the pre-clearance requirement. In the sole discretion of Code of Ethics Administration and the Chief Compliance Officer, accounts that will be considered for exclusion from the pre-clearance requirement are only those for which an employee’s securities broker, Trustee or investment advisor has complete discretion whereby the access person has no direct or indirect influence or control over the account, including:

1) Not being able to suggest that the trustee or third-party discretionary manager make any particular purchases or sales of securities;

2) Not being able to direct the trustee or third-party discretionary manager to make any particular purchases or sales of securities; and

3) You did not consult with the trustee or third-party discretionary manager as to the particular allocation of investments to be made in your account.

Employees wishing to seek such an exemption must complete a “Pre-Clearance Waiver Form for Sole Discretion Accounts” and satisfy all requirements.

These forms can be obtained by contacting Code of Ethics Administration.

You will be notified of the outcome of your request by the Code of Ethics Administrator and/or the Chief Compliance Officer.

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Appeals: If you believe that your request has been incorrectly denied or that an action is not warranted, you may appeal the decision. To make an appeal, you need to give the CCO of the Adviser/Trust a written explanation of your reasons for appeal within 30 days of the date that you were informed of the decision. Be sure to include any extenuating circumstances or other factors not previously considered. During the review process, you may, at your own expense, engage an attorney to represent you. Code of Ethics Administration may arrange for Ethics Oversight Committee or other parties to be part of the review process.

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14)  Education of Employees

This Code constitutes the code of ethics required by Rule 17j-1 under the Investment Company Act of 1940 and by Rule 204A-1 under the Investment Advisers Act of 1940. Code of Ethics Administration will provide a paper copy or electronic version of the Code (and any amendments) to each person subject to the Code. Code of Ethics Administration will also administer training to employees on the principles and procedures of the Code and other related policies.

15)  Recordkeeping

Code of Ethics Administration will maintain:

• a copy of the current Code for John Hancock and a copy of each code of ethics in effect at any time within the past five years.

• a record of any violation of the Code, and of any action taken as a result of the violation, for six years.

• a copy of each report made by an Access Person under the Code, for six years (the first two years in a readily accessible place).

• a record of all persons, currently or within the past five years, who are or were, required to make reports under the Code. This record will also indicate who was responsible for reviewing these reports.

• a record of any decision, and the reasons supporting the decision, to approve the acquisition by an Access Level I Persons of IPOs or private placement securities, for six years.

• a record of any decision, and the reasons supporting the decision, to approve the acquisition by an Access Person of the John Hancock Advisers IPOs or private placement securities, for six years.

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Appendix A — Access Person Categories

You have been notified about which of these categories applies to you, based on Code of Ethics Administration’s understanding of your current role. If you have a level of investment access beyond that category, or if you are promoted or change duties and as a result should more appropriately be included in a different category, it is your responsibility to immediately notify the Chief Compliance Officer of your company.

1) Access Level I - Investment Access Person: An associate, officer or non-independent board member of a John Hancock Adviser who, in connection with his/her regular functions or duties, makes or participates in making recommendations regarding the purchase or sale of securities by the John Hancock Affiliated Funds.

(Examples: Portfolio managers; analysts; and traders)

2) Access Level II - Regular Access Person: An associate, senior officer (vice president and higher) or non- independent board member of John Hancock Funds; a John Hancock Adviser; John Hancock Funds, LLC; John Hancock Distributors, LLC; each open-end and closed-end fund advised by a John Hancock Adviser or other John Hancock entity who, in connection with his/her regular functions or duties, has regular access to nonpublic information regarding any clients' purchase or sale of securities, or nonpublic information regarding the portfolio holdings of any John Hancock Affiliated Fund; or who is involved in making securities recommendations to clients, or who has regular access to such recommendations that are nonpublic.

(Examples: Office of the Chief Compliance Officer, Fund Administration, Investment Management Services, Administrative Personnel supporting Access Level I Persons, Technology Resources Personnel with access to investment systems, Private Client Group Personnel, and anyone else that Code of Ethics Administration deems to have regular access.)

3) Access Level III – Periodic Access Person: An associate, officer (assistant vice president and higher) or non-independent board member of John Hancock Funds; a John Hancock Adviser; John Hancock Funds, LLC; John Hancock Distributors, LLC; each open-end and closed-end fund advised by a John Hancock Adviser or other John Hancock entity who, in connection with his/her regular functions or duties, has periodic access to nonpublic information regarding any clients' purchase or sale of securities, or nonpublic information regarding the portfolio holdings of any John Hancock Affiliated Fund.

Examples: (Legal staff, Marketing, Product Development, E-Commerce, Corporate Publishing, Administrative Personnel supporting Access Level II Persons, and anyone else that Code of Ethics Administration deems to have periodic access.)

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Appendix B — Preferred Brokers List While employed by John Hancock, you must maintain your accounts at one of the preferred brokers approved by John Hancock. The following are the preferred brokers for you to maintain your covered accounts:

Ameriprise

Bank of Oklahoma

Bank of Texas

Barclays Wealth Management

Brave Warrior Advisors

Charles Schwab

Chase Investment Services

Citigroup

Constellation Wealth Management

Credit Suisse

DB Alex Brown

Edward Jones

E*Trade

Fidelity

First Republic

Goldman Sachs Wealth Management

HSBC Private Bank

Interactive Brokers

JB Were

JP Morgan Private Bank

JP Morgan Securities

Lincoln Financial

Merrill Lynch & Bank of America

Morgan Stanley Private Wealth

Morgan Stanley Smith Barney

Northern Trust

Northern Trust Institutional

Oppenheimer & Co.

OptionsXpress

Pershing Advisor Solutions

Piper Jaffray

Raymond James

Revolution Capital

Robert W. Baird & Co.

Sanders Morris Harris

Scottrade

Stifel

TD Ameritrade

T. Rowe Price

Thompson Davis & Co.

UBS

US Trust

Vanguard

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Appendix C — Pre-clearance Procedures

Submitting a Standard Trade Preclearance Request:

Click on the blue arrowhead next to Preclearance and click > Trade Request.

You will be directed to the Request Preclearance for a Trade page.

Request Preclearance for a Trade: The fields on this page are as follows (you may or may not see all fields, depending on your firm’s PTCC setup):

Instructions This field contains your firm’s preclearance instructions. Read these instructions carefully before proceeding with your request.

Transaction Type Select “Buy” or “Sell” as appropriate. Depending on your firm’s PTCC setup, “Sell Short” and “Cover Short” transaction types may also be available.

Quantity Type the quantity that you are requesting into the box provided. For options, enter the number of shares, not the number of contracts. For bonds, enter the dollar face value (e.g., 35 bonds for $1000 should be entered as 35,000).

Security You must select the security from the security master by using the lookup function (click > lookup). The lookup function allows you to search by Symbol (ticker), security identifier, company name, description, and or security type. When you locate the correct security in the lookup screen, click on the ticker to populate the Security field on the form.

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Special Request Check this box if your request is a “Special Request” as defined by your firm in the Instructions. Otherwise, leave the box unchecked.

Additional Info Enter any additional information required by your firm into the box provided. Please see the Instructions to determine what information (if any) is required.

When you have completed the applicable fields, click > Submit Request at the bottom of the screen.

You will be directed to a confirmation page, where you may proceed with the request by clicking > Confirm Request.

You will be directed to the Trade Preclearance Request Details page.

Trade Preclearance Request Details

This page displays a summary of your request, along with the Request Status. The Request Status gives you the firm’s decision regarding permission to carry out the requested trade; it will be Allowed (highlighted in green), Pending (highlighted in yellow), or Denied (highlighted in pink). If the request status is Pending, then your compliance department will receive a notification that there is a request requiring their review. When they make a decision (Allow or Deny), you will be notified via email that your preclearance request has been updated; you may log on to PTCC to view the details.

Shortcuts to the Trade Preclearance Request Page

A link is available on the Security Details page that will allow you to move directly to a preclearance form where the Security field is pre-populated. You may reach this page by locating a security via the Security Lookup – Advanced Search feature or by clicking on the magnifying glass icon next to a ticker displayed in PTCC.

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Security Details Page

On the Security Details page, click > Request Trade preclearance for this Security. You will be directed to the Request Preclearance for a Trade page, where the security will already be populated in the Security field. A similar feature is available on the Transactions page. If you already hold a security, then you can drill down to the Transactions page for that holding to access this feature.

Request Trade Preclearance Link on Transactions Page

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Click > Request Trade preclearance for this Security (near the bottom of the page). You will be directed to the Request Preclearance for a Trade page, where the security will already be populated in the Security field.

Submitting IPO / Private Placement Preclearance:

Click on the blue arrowhead next to Preclearance and click > IPO / Private Placement Request.

You will be directed to the Request IPO / Private Placement / Other Preclearance page

Request IPO / Private Placement / Other Preclearance Screen

This page consists of a list of questions required by the firm to determine pre-clearance. First, read the Instructions provided in the box at the top of the screen – these are instructions for how to complete the questions.

After reading the instructions, respond to the questions listed by using the Respond function. If the following message is displayed below a question, then you must respond to the question before you will be able to submit the request: A response is required for this question.

When you have finished answering all of the relevant questions, click > Submit Request.

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You will be directed to a confirmation page, where you may proceed with the request by clicking > Confirm Request.

You will be directed to the IPO / Private Placement / Other Preclearance Request Details page.

IPO / Private Placement / Other Preclearance Request Details

This page displays a summary of your request, along with the Request Status. The Request Status gives you the firm’s decision regarding permission to carry out the requested transaction; it will be Allowed (highlighted in green), Denied (highlighted in pink), or, most likely, Pending (highlighted in yellow).

If the request status is Pending, then your compliance department will receive a notification that there is a request requiring their review. When they make a decision (Allow or Deny), you will be notified via email that your preclearance request has been updated; you may log on to PTCC to view the details.

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Appendix D — Other Important Policies outside the Code

1) Policy Regarding Dissemination of Mutual Fund Portfolio Information

2) Manulife Financial Corporation Anti-Fraud Policy

3) John Hancock Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) Program

4) Conflict of Interest Rules for Directors and Officers

5) John Hancock Non-Cash Compensation Policy

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Appendix E — Investment Professional Disclosure of Personal Securities Conflicts

As an investment professional, Access Level I Persons, you must promptly disclose your direct or indirect beneficial interest in a security that is under consideration for purchase or sale in a John Hancock Affiliated Fund or account. You are required to follow the following guidelines.

If you or a member of your family own:

a 5% or greater interest in a company, John Hancock Affiliated Funds and its affiliates may not make any investment in that company;

a 1% or greater interest in a company, you cannot participate in any decision by John Hancock Funds and its affiliates to buy or sell that company’s securities;

ANY other interest in a company, you cannot recommend or participate in a decision by John Hancock Affiliated Funds, and its affiliates to buy or sell that company’s securities unless your personal interest is fully disclosed at all stages of the investment decision.

In such instances, you must initially disclose that beneficial interest orally to the primary portfolio manager (or other appropriate analyst) of the Affiliated Fund or account or the appropriate Chief Investment Officer. Following the oral disclosure, you must send a written acknowledgement to the primary portfolio manager with a copy to the Code of Ethics Administration Department.

For the purposes of this requirement investment professionals are defined as analysts and portfolio managers.

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Appendix F — John Hancock Advisers Schedule of Fines and Sanctions

Code Violation	Policy Memo	Violation Notice	Fine	Liquidate Position	Profit Surrender4	Restrict Trading	Termination	Comments
1st Procedural Pre-clearance Violation1	X							Subsequent violations may result in fines**
1st Failure to Pre-clear (would have been approved)	X					**		Subsequent violations may result in fines**
1st Failure to Pre-clear (would have been denied)	X			X	X	**		Subsequent violations may result in fines**
Trading after Pre-clearance Denial		X	X	X	X	**		2 First Violation = $250/$1000 - Subsequent Violations set by Ethics Oversight Committee at least = $500/$2000
2nd Procedural Pre-clearance Violation1		X						2 First Violation = $250/$1000 - Subsequent Violations set by Ethics Oversight Committee at least = $500/$2000
2nd Failure to Pre-clear (would have been approved)		X				**		Subsequent violations may result in fines**
2nd Failure to Pre-clear (would have been denied)		X		X	X	**		Subsequent violations may result in fines**
3rd Failure to Preclear or Procedural Violation		X	X	X	X	**		2 First Violation = $250/$1000 - Subsequent Violations set by Ethics Oversight Committee at least = $500/$2000
Special Consideration Security w/out approval (would have been approved)3		X						Subsequent violations may result in fines**
Special Consideration Security w/out approval (would have been denied)3		X	X	X	X			2 First Violation = $250/$1000 - Subsequent Violations set by Ethics Oversight Committee at least = $500/$2000
1st Ban on Short Term Profits Rule Violation	X				X			Subsequent violations may result in fines**
2nd Ban on Short Term Profits Rule Violation		X	X		X	**		2 First Violation = $250/$1000 - Subsequent Violations set by Ethics Oversight Committee at least = $500/$2000
Violation of Blackout Period		X	X	X	X	**		2 First Violation = $250/$1000 - Subsequent Violations set by Ethics Oversight Committee at least = $500/$2000
Required Reporting Violation5	X							Subsequent violations may result in fines**
Certifying to incorrect data (i.e. holdings discrepancies)	X							Subsequent violations may result in fines**
Refusal to Acknowledge Code							X	Habitual violations of the requirements of the Code of Ethics
**At the discretion of the Ethics Oversight Committee Please note: Any of the above violations may result in a meeting with Code of Ethics Administration at the discretion of the Chief Compliance Officer 1 Procedural Pre-clearance = incorrect amount of shares, incorrect trading symbol or cusip, incorrect trade direction or incorrect brokerage account 2 Tiered Fines: lesser amount is for Regular Access persons with a job grade below AVP and higher amount is for Investment Access Persons and anyone with a job grade of AVP or higher. 3 Special Consideration Securities are Initial Public Offerings, Private Placements, or Limited Offerings. 4 Disgorgement only if profit is greater than $100 5 Reporting Violations - Related to Initial, Quarterly and Annual Certifications and violations of timely disclosure of new accounts and acquisitions and dispositions of covered securities; i.e. gifts/donations and inheritances.

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Appendix G — Chief Compliance Officers and Code of Ethics Contacts

Entity	Chief Compliance Officer
John Hancock Advisers, LLC	Frank Knox – 617-663-2430
John Hancock Investment Management Services, LLC	Frank Knox
Each open-end and closed-end fund advised by a John Hancock Adviser	Frank Knox
John Hancock Funds, LLC	Michael Mahoney - 617-663-3021
John Hancock Distributors, LLC	Michael Mahoney –

Code of Ethics Contact	Phone number
Code of Ethics Hotline	617-572-9100(Ext#729100)
Code of Ethics Administration	617-572-9100 ext. 729100

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EX-99.CERT

CERTIFICATION

I, Andrew Arnott, certify that:

1. I have reviewed this report on Form N-CSR of the John Hancock Funds III;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 19, 2017	/s/ Andrew Arnott
	Andrew Arnott
	President

CERTIFICATION

I, Charles A. Rizzo, certify that:

1. I have reviewed this report on Form N-CSR of the John Hancock Funds III;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 19, 2017	/s/ Charles A. Rizzo
	Charles A. Rizzo
	Chief Financial Officer

EX-99.906 CERT

Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002

In connection with the attached Report of John Hancock Funds III (the “registrant”) on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the registrant does hereby certify that, to the best of such officer's knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant as of, and for, the periods presented in the Report.

	/s/ Andrew Arnott
	Andrew Arnott
	President
Dated:	April 19, 2017

	/s/ Charles A. Rizzo
	Charles A. Rizzo
	Chief Financial Officer
Dated:	April 19, 2017

A signed original of this written statement, required by Section 906, has been provided to the registrant and will be retained by the registrant and furnished to the Securities and Exchange Commission or its staff upon request.

EX-99.(C)(1)

JOHN HANCOCK FUNDS¹
NOMINATING AND GOVERNANCE COMMITTEE CHARTER

Overall Role and Responsibility

The Nominating and Governance Committee (the “Committee”) of each of the Trusts shall (1) make determinations and recommendations to the Board of Trustees (the “Board”) regarding issues related to (a) the composition of the Board and (b) corporate governance matters applicable to the Trustees who are not “interested persons” as defined in the Investment Company Act of 1940, as amended (the “1940 Act”), of any of the Trusts, or of any Fund’s investment adviser, subadviser or principal underwriter and who are “independent” as defined in the rules of the New York Stock Exchange (“NYSE”) (the “Independent Trustees”) and (2) discharge such additional duties, responsibilities and functions as are delegated to it from time to time.

Membership

The Nominating and Governance Committee (the “Committee”) shall be composed of all of the Independent Trustees of the Board. One member of the Committee shall be appointed by the Board as Chair of the Committee. The chair shall be responsible for leadership of the Committee, including scheduling meetings or reviewing and approving the schedule for them, preparing agendas or reviewing and approving them before meetings, presiding over meetings of the Committee and making reports to the full Board, as appropriate.

Structure, Operations and Governance

Meetings and Actions by Written Consent. The Committee shall meet as often as required or as the Committee deems appropriate, with or without management present. Meetings may be called and notice given by the Committee chair or a majority of the members of the Committee. Members may attend meetings in person or by telephone. The Committee may act by written consent to the extent permitted by law and the Funds’ governing documents. The Committee shall report to the Board on any significant action it takes not later than the next following Board meeting.

Required Vote and Quorum. The affirmative vote of a majority of the members of the Committee participating in any meeting of the Committee at which a quorum is present is necessary for the adoption of any resolution. At least a majority of the Committee members present at the meeting in person or by telephone shall constitute a quorum for the transaction of business.

¹ “John Hancock Funds” includes each trust and series thereof listed in Appendix A, as may be amended from time to time (each individually, a “Trust,” and collectively, the “Trusts,” and each series thereof, a “Portfolio” or “Fund,” and collectively, the “Portfolios” or “Funds”).

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Delegation to Subcommittees. The Committee may delegate any portion of its authority to a subcommittee of one or more members.

Appropriate Resources and Authority. The Committee shall have the resources and authority appropriate to discharge its responsibilities, including the authority to retain special counsel and other advisers, experts or consultants, at the Funds’ expense, as it determines necessary or appropriate to carry out its duties and responsibilities. In addition, the Committee shall have direct access to such officers of and service providers to the Funds as it deems desirable.

Review of Charter. The Committee Charter shall be approved by at least a majority of the Independent Trustees of the Trust. The Committee shall review and assess the adequacy of this Charter periodically and, where necessary or as it deems desirable, will recommend changes to the Board for its approval. The Board may amend this Charter at any time in response to recommendations from the Committee or on its own motion.

Executive Sessions. The Committee may meet privately and may invite non-members to attend such meetings. The Committee may meet with representatives of the Investment Management Services department of the Funds’ advisers, internal legal counsel of the Funds’ advisers, members of the John Hancock Funds Risk & Investment Operations Committee (the “RIO Committee”) and with representatives of the Funds’ service providers, including the subadvisers, to discuss matters that relate to the areas for which the Committee has responsibility.

Specific Duties and Responsibilities

The Committee shall have the following duties and powers, to be exercised at such times and in such manner as the Committee shall determine:

1. Except where a Trust is legally required to nominate individuals recommended by another, to identify individuals qualified to serve as Independent Trustees of the Trusts, and to consider and recommend to the full Board nominations of individuals to serve as Trustees.

2. To consider, as it deems necessary or appropriate, the criteria for persons to fill existing or newly created Trustee vacancies. The Committee shall use the criteria and principles set forth in Annex A to guide its Trustee selection process.

3. To consider and recommend changes to the Board regarding the size, structure, and composition of the Board.

4. To evaluate, from time to time, and determine changes to the retirement policies for the Independent Trustees, as appropriate.

5. To periodically review the Board’s committee structure and, in collaboration with the Chairs of the various Committees, the charters of the Board’s committees, and

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recommend to the Board of Trustees changes to the committee structure and charters as it deems appropriate.

6. To retain and terminate any firm(s) to be used to identify or evaluate or assist in identifying or evaluating potential Independent Board nominees, subject to the Board’s sole authority to approve the firm’s fees and other retention terms.

7. To consider and determine the amount of compensation to be paid by the Trusts to the Independent Trustees, including the compensation of the Chair of the Board or any Vice-Chair of the Board and of Committee Chairs, and to address compensation-related matters. The Chair of the Board has been granted the authority to approve special compensation to Independent Trustees in recognition of any significant amount of additional time and service to the Trusts provided by them, subject to ratification of any such special compensation by the Committee at the next regular meeting of the Committee.

8. To coordinate and administer an annual self-evaluation of the Board, which will include, at a minimum, a review of its effectiveness in overseeing the number of Funds in the Fund complex and the effectiveness of its committee structure.

9. To review the Board Governance Procedures and recommend to the Board of Trustees changes to the Procedures as the Committee deems appropriate.

10. To report its activities to the full Board and to make such recommendations with respect to the matters described above and other matters as the Committee may deem necessary or appropriate.

Additional Responsibilities

The Committee will also perform other tasks assigned to it from time to time by the Chair of the Board or by the Board, and will report findings and recommendations to the Board, as appropriate.

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ANNEX A

The Committee may take into account a wide variety of factors in considering Trustee candidates, including (but not limited to) the criteria set forth below. The Committee may determine that a candidate who does not satisfy these criteria in one or more respects should nevertheless be considered as a nominee if the Committee finds that the criteria satisfied by the candidate and the candidate’s other qualifications demonstrate the appropriate level of fitness to serve.

General Criteria

1. Nominees should have a reputation for integrity, honesty and adherence to high ethical standards, and such other personal characteristics as a capacity for leadership and the ability to work well with others.

2. Nominees should have business, professional, academic, financial, accounting or other experience and qualifications which demonstrate that they will make a valuable contribution as Trustees.

3. Nominees should have a commitment to understand the Funds, and the responsibilities of a trustee/director of an investment company and to regularly attend and participate in meetings of the Board and its committees.

4. Nominees should have the ability to understand the sometimes conflicting interests of the various constituencies of the Funds, including shareholders and the investment adviser, and to act in the interests of all shareholders.

5. Nominees should not have, nor appear to have, a conflict of interest that would impair their ability to represent the interests of all the shareholders and to fulfill the responsibilities of a trustee.

6. Nominees should have experience on corporate or other institutional bodies having oversight responsibilities.

It is the intent of the Committee that at least one Independent Trustee be an “audit committee financial expert” as that term is defined in Item 3 of Form N-CSR.

Application of Criteria to Current Trustees

The re-nomination of current Trustees should not be viewed as automatic, but should be based on continuing qualification under the criteria set forth above based on, among other things, the current Trustee’s contribution to the Board and any committee on which he or she serves.

Review of Nominations

1. The Committee believes that it is in the best interests of each Trust and its shareholders to obtain highly-qualified candidates to serve as members of the Board.

2. In nominating candidates who would be Independent Trustees, the Committee believes that no particular qualities or skills nor any specific minimum qualifications or disqualifications are controlling or paramount. The Committee shall take into consideration any such factors as it deems appropriate; however, the appropriate mix of skills, expertise and attributes needed to maintain an effective board are sought in the applicant pool as part of every search the Board undertakes for new trustees, including but not limited to the diversity of thought, as well as of gender, race, ethnic background and geographic origin. These factors may also include (but are not limited to) the person’s character, integrity, judgment, skill and experience with investment companies and other organizations of comparable purpose, complexity and size and subject to similar legal restrictions and oversight; the interplay of the candidate’s experience with the experience of other Board members; and the extent to which the candidate would be a desirable addition to the Board and any Committees thereof. Other factors that the Committee may take into consideration include a person’s availability and commitment to attend meetings and perform his or her responsibilities; whether or not the person has or had any relationships that might impair or appear to impair his or her independence, such as any business, financial or family relationships with Fund management, the investment adviser and/or any subadviser of the Funds, as applicable, Fund service providers, or their affiliates or with Fund shareholders. The Committee will strive to achieve a group that reflects a diversity of experiences in respect of industries, professions and other experiences, and that is diversified as to thought, gender, race, ethnic background and geographic origin.

3. While the Committee is solely responsible for the selection and recommendation to the Board of Independent Trustee candidates, the Committee may consider nominees recommended by any source, including shareholders, management, legal counsel and Board members, as it deems appropriate. The Committee may retain a professional search firm or a consultant to assist the Committee in a search for a qualified candidate. Any recommendations from shareholders shall be directed to the Secretary of the relevant Trust at such address as is set forth in the Trust’s disclosure documents. Recommendations from management may be submitted to the Committee Chair. All recommendations shall include all information relating to such person that is required to be disclosed in solicitations of proxies for the election of Board members and as specified

in the relevant Trust’s By-Laws, and must be accompanied by a written consent of the proposed candidate to stand for election if nominated for the Board and to serve if elected by shareholders.

4. Any shareholder nomination must be submitted in compliance with all of the pertinent provisions of Rule 14a-8 under the Securities Exchange Act of 1934 in order to be considered by the Committee. In evaluating a nominee recommended by a shareholder, the Committee, in addition to the criteria discussed above, may consider the objectives of the shareholder in submitting that nomination and whether such objectives are consistent with the interests of all shareholders. If the Board determines to include a shareholder’s candidate among the slate of its designated nominees, the candidate’s name will be placed on the Trust’s proxy card. If the Board determines not to include such candidate among its designated nominees, and the shareholder has satisfied the requirements of Rule 14a-8, the shareholder’s candidate will be treated as a nominee of the shareholder who originally nominated the candidate. In that case, the candidate will not be named on the proxy card distributed with the Trust’s proxy statement.

5. As long as a current Independent Trustee continues, in the opinion of the Committee, to satisfy the criteria listed above, the Committee generally would favor the re-nomination of a current Trustee rather than a new candidate. Consequently, while the Committee will consider nominees recommended by shareholders to serve as trustees, the Committee may only act upon such recommendations if there is a vacancy on the Board, or the Committee determines that the selection of a new or additional Trustee is in the best interests of the relevant Trust. In the event that a vacancy arises or a change in Board membership is determined to be advisable, the Committee will, in addition to any shareholder recommendations, consider candidates identified by other means as discussed in this Annex A.

6. With respect to candidates for Independent Trustee, a biography of each candidate shall be acquired and shall be reviewed by counsel to the Independent Trustees and counsel to the Trust to determine the candidate’s eligibility to serve as an Independent Trustee.

7. The Committee may from time to time establish specific requirements and/or additional factors to be considered for Independent Trustee candidates as it deems necessary or appropriate.

8. After its consideration of relevant factors, the Committee shall present its recommendation(s) to the full Board for its consideration.

Appendix A

List of John Hancock Fund Trusts

John Hancock Financial Opportunities Fund	John Hancock Investors Trust
John Hancock Bond Trust	John Hancock Municipal Securities Trust
John Hancock California Tax-Free Income Fund	John Hancock Preferred Income Fund
John Hancock Capital Series	John Hancock Preferred Income Fund II
John Hancock Current Interest	John Hancock Preferred Income Fund III
John Hancock Emerging Markets Income Fund	John Hancock Premium Dividend Fund
John Hancock Exchange-Traded Fund Trust
John Hancock Flexible Income Opportunities Fund	John Hancock Series Trust
John Hancock Funds II	John Hancock Sovereign Bond Fund
John Hancock Funds III	John Hancock Strategic Diversified Income Fund
John Hancock Hedged Equity & Income Fund	John Hancock Strategic Series
John Hancock Income Securities Trust	John Hancock Tax-Advantaged Dividend Income Fund
John Hancock Investment Trust	John Hancock Tax-Advantaged Global Shareholder Yield Fund
John Hancock Investment Trust II	John Hancock Tax-Exempt Series Fund
John Hancock Investment Trust III	John Hancock Variable Insurance Trust