The Registrant prepared one semiannual report to shareholders for the period ended June 30, 2016. The report applies to the 5 Lifestyle Portfolios.

John Hancock

Lifestyle Portfolios

Semiannual report 6/30/16

A message to shareholders

Dear shareholder,

The past six months marked a volatile stretch for investors. In January, major U.S. equity indexes experienced corrections—declines of 10% or more—before going on to rebound in the spring. Turbulence soon returned, however, as Brexit, the U.K.'s vote in late June to leave the European Union (EU), created a challenging backdrop for financial markets. Investors embraced traditional safe-haven assets, including U.S. Treasuries and gold, but equities and currency markets worldwide experienced sharp short-term drops. The move creates a number of unknowns in the near term, the most important of which is whether other EU countries will follow suit, and may ultimately have a negative effect on Europe's economic recovery. Our network of asset managers and researchers expects that the European Central Bank and the Bank of England will likely expand their efforts to stimulate economic activity and that the U.K.'s decision may even delay the U.S. Federal Reserve's next interest-rate increase until December at the earliest, all of which should help support markets. In fact, the S&P 500 Index and Dow Jones Industrial Average both went on to hit all-time highs in mid-July as investors bought stocks on the Brexit dip.

While it's impossible to predict how markets will respond to global macroeconomic developments in the coming weeks and months, it is prudent to expect continued volatility. At John Hancock Investments, portfolio risk management is a critical part of our role as an asset manager and our dedicated risk team is focused on these issues every day. We continually strive for new ways to analyze potential risks and have liquidity tools in place to help meet the needs of our fund shareholders. Whether the markets are up or down, your financial advisor 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 as of June 30, 2016. They are subject to change at any time. All investments entail risks, including the possible loss of principal. Diversification does not guarantee a profit or eliminate the risk of a loss. For more up-to-date information, you can visit our website at jhinvestments.com.

John Hancock
Lifestyle Portfolios

Table of contents

2 Lifestyle Portfolios at a glance

5 Discussion of portfolio performance

8 John Hancock Lifestyle Aggressive Portfolio

9 John Hancock Lifestyle Growth Portfolio

10 John Hancock Lifestyle Balanced Portfolio

11 John Hancock Lifestyle Moderate Portfolio

12 John Hancock Lifestyle Conservative Portfolio

13 Your expenses

17 Portfolios' investments

22 Financial statements

27 Financial highlights

37 Notes to financial statements

57 Evaluation of advisory and subadvisory agreements

62 More information

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 1

Lifestyle Portfolios at a glance

PERFORMANCE HIGHLIGHTS OVER THE LAST SIX MONTHS

Bond prices rose as interest rates declined around the world

Buoyed by falling interest rates, most global fixed-income indexes rallied; equity price movements were mixed, generally down in international developed markets and up in emerging and U.S. markets.

The portfolios posted gains, but underperformed benchmarks

The portfolios generated positive total returns, trailing their custom blended benchmarks for the period.

Manager selection detracted from relative performance

On balance, the performance of the portfolios' underlying specialist managers drove the underperformance relative to the custom blended benchmarks.

PORTFOLIO ALLOCATION AS OF 6/30/16 (%)

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 2

AVERAGE ANNUAL TOTAL RETURNS AS OF 6/30/16(%)

Lifestyle Aggressive Portfolio

Lifestyle Growth Portfolio

Lifestyle Balanced Portfolio

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 3

AVERAGE ANNUAL TOTAL RETURNS AS OF 6/30/16(%)

Lifestyle Moderate Portfolio

Lifestyle Conservative Portfolio

Lifestyle Aggressive Blended Index is composed of 70% Russell 3000 Index and 30% MSCI All Country World ex-USA Index.

Lifestyle Growth Blended Index is composed of 56% Russell 3000 Index, 24% MSCI All Country World ex-USA Index, 16% Barclays U.S. Aggregate Bond Index, and 4% Bank of America Merrill Lynch U.S. High Yield Master II Index.

Lifestyle Balanced Blended Index is composed of 42% Russell 3000 Index, 18% MSCI All Country World ex-USA Index, 32% Barclays U.S. Aggregate Bond Index, and 8% Bank of America Merrill Lynch U.S. High Yield Master II Index.

Lifestyle Moderate Blended Index is composed of 28% Russell 3000 Index, 12% MSCI All Country World ex-USA Index, 48% Barclays U.S. Aggregate Bond Index, and 12% Bank of America Merrill Lynch U.S. High Yield Master II Index.

Lifestyle Conservative Blended Index is composed of 14% Russell 3000 Index, 6% MSCI All Country World ex-USA Index, 64% Barclays U.S. Aggregate Bond Index, and 16% Bank of America Merrill Lynch U.S. High Yield Master II Index.

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. Returns for periods shorter than one year are cumulative. 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.

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 4

Discussion of portfolio performance

An interview with Portfolio Manager Robert M. Boyda, John Hancock Asset Management a division of Manulife Asset Management (US) LLC

Robert M. Boyda
Portfolio Manager
John Hancock Asset Management

"Global fixed-income markets rallied as interest rates declined and credit spreads tightened in many parts of the world."

As an asset allocator who invests across many different capital markets around the world, what are your observations about the six-month period ended June 30, 2016?

Global fixed-income markets rallied as interest rates declined and credit spreads tightened in many parts of the world. Certain long-dated developed-market sovereign, U.S. high-yield corporate, and emerging-market debt assets generated particularly strong results. After an extended time horizon marked by price declines, which included the opening weeks of 2016, commodity markets staged a comeback. Rising precious metal prices drove commodity indexes higher for the period. Energy prices, such as those for crude oil and natural gas, were also up.

On balance, global equities were modestly positive, with emerging and U.S. markets leading the way; the MSCI Emerging Markets Index was up 6.60%, and the S&P 500 Index was up 3.84%. In the United States, defensively oriented equity sectors, such as telecommunication services and utilities, were among the strongest, while the financials sector lagged.

Developed equity markets outside of the United States were among the weakest, as the MSCI EAFE Index declined 4.04%. The U.K.'s vote in favor of leaving the European Union (Brexit) surprised investors and prompted a spike in market volatility late in the period, especially in Europe, where many risk assets dropped precipitously before recovering some of those losses.

Our view of emerging-market equities continued to improve. We've been encouraged about selective local growth opportunities, and we're cautiously optimistic about early signs of stabilization in China, which bodes well for greater Asia. On the other side of the Caucasus and Ural Mountains, European equities present a paradox: We recognize their attractive valuations, but we also acknowledge the long-standing economic challenges facing that region—challenges that the referendum results favoring Brexit intensified.

How did the portfolios perform for the period?

While all the portfolios posted positive total returns, those portfolios with larger fixed-income allocations performed better than those with larger equity allocations as, broadly speaking, the global bond market outpaced the global stock market.

In absolute terms, the portfolios performed as we would have expected them to perform given their broad exposure to the world's capital markets; however, the portfolios' underlying composition of active managers weighed on results relative to the custom blended benchmarks, as a number of strategies struggled to keep pace for this particular period.

How were the portfolios positioned as of period end?

We made no material changes to the core composition of the portfolios during the period. As always, we favor a globally diversified approach, with representation from a range of the world's traditional and alternative asset classes and investment strategies, including absolute return mandates that aim for positive returns even in the absence of generally rising capital markets. We find absolute return strategies very attractive in an environment where U.S. equity market valuations have remained relatively high and many global government bond yields have hit historic lows, below zero for certain issues in Europe and Japan. Relative to their custom blended benchmarks, each Lifestyle Portfolio held an overweight allocation to absolute return approaches as of June 30, 2016.

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 5

"We find absolute return strategies very attractive in an environment where U.S. equity market valuations have remained relatively high and many global government bond yields have hit historic lows ..."

LIFESTYLE AGGRESSIVE PORTFOLIO

The portfolio's Class A shares were up 0.13%, excluding sales charges, its custom blended benchmark was up 2.34%, and the Morningstar fund category was up 1.38%.

On balance, manager selection weighed on relative results for the period. Among the portfolio's holdings, the most significant detractors from performance included Technical Opportunities Fund (Wellington), Fundamental Large Cap Value Fund (JHAM), and Capital Appreciation Fund (Jennison). The most significant contributors to performance included International Value Fund (Templeton), Absolute Return Currency Fund (First Quadrant), and Global Shareholder Yield Fund (Epoch).

LIFESTYLE GROWTH PORTFOLIO

The portfolio's Class A shares were up 0.94%, excluding sales charges, its custom blended benchmark was up 3.16%, and the portfolio's Morningstar fund category was up 2.71%.

In terms of asset allocation, an overweight in defensively oriented equity strategies provided a boost to relative performance, as did an underweight in international developed-market larger-cap stocks. An allocation dedicated to equity assets that benefit from rising prices of global natural resources was also helpful. Meanwhile, the portfolio's underweight in U.S. mid-cap equities was a hindrance, as the middle portion of the U.S. market outpaced the larger-cap segment. An underweight allocation to fixed-income assets also weighed on relative results.

On balance, manager selection weighed on relative results for the period. Among the portfolio's holdings, the most significant detractors from performance included Technical Opportunities Fund (Wellington), Fundamental Large Cap Value Fund (JHAM), and Capital Appreciation Fund (Jennison). On the other hand, the most significant contributors to performance included International Value Fund (Templeton), Emerging Markets Fund (Dimensional), and Absolute Return Currency Fund (First Quadrant).

LIFESTYLE BALANCED PORTFOLIO

The portfolio's Class A shares were up 2.24%, excluding sales charges, its custom blended benchmark was up 3.95%, and the Morningstar fund category was up 3.17%.

On balance, manager selection served as a modest drag on relative results. Among the portfolio's holdings, the most significant detractors from performance included Technical Opportunities Fund (Wellington), Fundamental Large Cap Value Fund (JHAM), and Blue Chip Growth Fund (T. Rowe Price). On the other hand, the most significant contributors to performance included Absolute Return Currency Fund (First Quadrant), International Value Fund (Templeton), and Spectrum Income Fund (T. Rowe Price).

LIFESTYLE MODERATE PORTFOLIO

The portfolio's Class A shares were up 3.66%, excluding sales charges, its custom blended benchmark was up 4.70%, and the

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 6

Morningstar fund category was up 4.31%.

In terms of asset allocation, an overweight in defensively oriented equity strategies provided a boost to relative performance, as did an underweight in international developed-market larger-cap stocks. An allocation dedicated to equity assets that benefit from rising prices of global natural resources was also helpful. Meanwhile, the portfolio's underweight in U.S. mid-cap equities was a mild hindrance, as the middle portion of the U.S. market outpaced the larger-cap segment. An underweight allocation to fixed-income assets also weighed on relative results.

On balance, manager selection served as a modest drag on relative results. Among the portfolio's holdings, the most significant detractors from performance included Fundamental Large Cap Value Fund (JHAM), Blue Chip Growth Fund (T. Rowe Price), and Capital Appreciation Fund (Jennison). On the other hand, the most significant contributors to performance included Absolute Return Currency Fund (First Quadrant), Spectrum Income Fund (T. Rowe Price), and International Value Fund (Templeton).

LIFESTYLE CONSERVATIVE PORTFOLIO

The portfolio's Class A shares were up 4.36%, excluding sales charges, its custom blended benchmark was up 5.43%, and the Morningstar fund category was up 4.51%.

In terms of asset allocation, an overweight in defensively oriented equity strategies provided a boost to relative performance, as did an underweight in international developed-market larger-cap stocks. An allocation dedicated to equity assets that benefit from rising prices of global natural resources was also helpful. Meanwhile, the portfolio's underweight in U.S. mid-cap equities was a mild hindrance, as the middle portion of the U.S. market outpaced the larger-cap segment. An underweight allocation to fixed-income assets (and a commensurate overweight allocation to absolute return investments) also weighed on relative results for this period, which was marked by rising bond markets.

On balance, manager selection served as a modest drag on relative results. Among the portfolio's holdings, the most significant detractors from performance included Global Absolute Return Strategies Fund (Standard Life), Fundamental Large Cap Value Fund (JHAM), and Total Return Fund (PIMCO). On the other hand, the most significant contributors to performance included Absolute Return Currency Fund (First Quadrant), Enduring Assets Fund (Wellington), and Spectrum Income Fund (T. Rowe Price).

MANAGED BY

Robert M. Boyda
On the portfolio since 2010
Investing since 1979

Marcelle Daher, CFA
On the portfolio since 2013
Investing since 1999

Nathan W. Thooft, CFA
On the portfolio since 2013
Investing since 2000

The portfolios' performance depends on the subadvisors' ability to determine the strategic asset class allocations, the mix of underlying funds, and the performance of those underlying funds. The underlying funds' performance may be lower than the performance of the asset class that they were selected to represent. The portfolios are subject to the same risks as the underlying funds in which they invest, which include the following: Stocks, bonds, and derivatives can decline due to adverse issuer, market, regulatory, or economic developments; foreign investing, especially in emerging markets, has additional risks, such as currency and market volatility and political and social instability; the securities of small-capitalization companies are subject to higher volatility than larger, more established companies; and high-yield bonds are subject to additional risks, such as increased risk of default and interest-rate risk. Events in the financial markets have resulted, and may continue to result, in an unusually high degree of volatility in the financial markets, both domestic and foreign. In addition, reduced liquidity in credit and fixed-income markets may adversely affect issuers worldwide. Liquidity—the extent to which a security may be sold or a derivative position closed without negatively affecting its market value, if at all—may be impaired by reduced trading volume, heightened volatility, rising interest rates, and other market conditions. Hedging and other strategic transactions may increase volatility and result in losses if not successful. For additional information on these and other risk considerations, please see the portfolios' prospectuses.
The views expressed in this report are exclusively those of Robert M. Boyda, John Hancock Asset Management, 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 portfolio for the entire period. Portfolio composition is subject to review in accordance with the portfolio's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk.

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 7

John Hancock Lifestyle Aggressive Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Lifestyle Aggressive Portfolio for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in a blended index and two separate indexes.

Index 1 is the S&P 500, an unmanaged index that includes 500 widely traded common stocks.

Index 2 is the MSCI EAFE Index (Europe, Australasia, Far East) (gross of foreign withholding taxes on dividends), a free-float-adjusted market capitalization index that is designed to measure developed market equity performance.

Index 3 is 70% Russell 3000 Index and 30% MSCI All Country World ex-USA Index.

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.

ASSET ALLOCATION (%)

Equity 86.1

U.S. Large Cap 35.4

International Large Cap 14.8

Large Blend 9.0

U.S. Mid Cap 8.7

Emerging Markets 7.8

International Small Cap 4.7

U.S. Small Cap 4.7

Global Large Cap 1.0

Alternative and specialty 13.9

Technical Opportunities 2.8

Science & Technology 2.5

Natural Resources 2.0

Financial Industries 1.7

Global Focused Strategies 1.2

Real Estate 1.0

Currency 0.8

Redwood 0.7

Health Sciences 0.7

Seaport 0.5

As a percentage of net assets.

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 6-30-16 (%)

Class A Class B Class C Class I^1,2 Class R1¹ Class R2^1,2 Class R3¹ Class R4¹ Class R5¹ Class R6^1,2 Class 1¹ Index 1³ Index 2³ Index 3³

Inception 10-18-05 10-18-05 10-18-05 10-15-05 9-18-06 10-18-05 10-18-05 10-18-05 10-18-05 10-15-05 10-15-05 10-18-05 10-18-05 10-18-05

Average annual total returns

1 year -9.87% -10.19% -6.73% -4.90% -5.49% -5.26% -5.41% -5.06% -4.85% -4.79% -4.79% 3.99% -9.72% -1.56%

5 year 4.80% 4.74% 5.13% 5.47% 5.43% 5.63% 5.53% 5.91% 6.18% 6.28% 6.32% 12.10% 2.15% 8.24%

10 year 3.60% 3.50% 3.38% 3.65% — 3.40% 3.84% 4.17% 4.47% 3.49% 4.60% 7.42% 2.05% 5.94%

Since inception — — — — 3.77% — — — — — — — — —

Cumulative returns

6 months -4.86% -5.19% -1.27% 0.20% -0.07% 0.07% 0.00% 0.20% 0.27% 0.27% 0.27% 3.84% -4.04% 2.34%

5 year 26.41% 26.05% 28.43% 30.48% 30.26% 31.48% 30.87% 33.24% 34.96% 35.61% 35.88% 77.02% 11.20% 48.57%

10 year 42.47% 41.06% 39.50% 43.06% — 39.70% 45.76% 50.45% 54.82% 40.88% 56.81% 104.65% 22.53% 78.01%

Since inception — — — — 43.72% — — — — — — — — —

Performance figures assume all distributions have been reinvested. Returns with maximum sales charge reflect a sales charge 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 1-6 according to the following schedule: 5%, 4%, 3%, 3%, 2%, 1%. No sales charges will be assessed after the sixth year. Class C shares held for less than one year are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R1, Class R2, Class R3, Class R4, Class R5, Class R6, and Class 1 shares.

Performance of the classes will vary based on the difference in sales charges paid by shareholders investing in the different classes and the fee structure of those classes.

The expense ratios of the portfolio, 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 portfolio and may differ from those disclosed in the Financial highlights tables in this report. Had the fee waivers and expense limitations not been in place, gross expenses would apply. The following expense ratios include expenses of the affiliated underlying funds in which the portfolio invests. The expense ratios are as follows:

Class A Class B Class C Class I Class R1 Class R2 Class R3 Class R4 Class R5 Class R6 Class 1

Gross (%) 1.41 2.11 2.11 1.09 1.75 1.50 1.65 1.35 1.05 1.00 1.03

Net (%) 1.40 2.11 2.11 1.09 1.75 1.50 1.65 1.25 1.05 0.98 1.03

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, the portfolio's current performance may be higher or lower than the performance shown. For performance data current to the most recent month end, please call 800-225-5291 or visit the portfolio's website at jhinvestments.com.

This performance information does not reflect the deduction of taxes that a shareholder may pay on portfolio distributions or the redemption of portfolio shares. The portfolio's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.

1	For certain types of investors as described in the portfolio's prospectuses.
2	Class R2 shares were first offered on 3-1-12. The returns prior to this date are those of Class A shares that have been recalculated to apply the gross fees and expenses of Class R2 shares. Class R6 and Class I shares were first offered on 9-1-11 and 5-1-15, respectively. The returns prior to this date are those of Class 1 shares that have been recalculated to apply the gross fees and expenses of Class R6 and Class I shares, as applicable.
3	Index 1, Index 2, and Index 3 returns at 6-30-16 for the period beginning 9-18-06 (inception date for Class R1 shares) are 7.13%, 1.86%, and 5.72% (respectively, annualized) and 96.12%, 19.72%, and 72.38% (respectively, cumulative).

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 8

John Hancock Lifestyle Growth Portfolio

GROWTH OF $10,000

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

Index 1 is the S&P 500, an unmanaged index that includes 500 widely traded common stocks.

Index 2 is the Barclays U.S. Aggregate Bond Index, an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.

Index 3 is 56% Russell 3000 Index, 24% MSCI All Country World ex-USA Index, 16% Barclays U.S. Aggregate Bond Index, and 4% Bank of America Merrill Lynch U.S. High Yield Master II Index.

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.

ASSET ALLOCATION (%)

Equity 69.6

U.S. Large Cap 30.8

International Large Cap 11.7

Large Blend 7.2

U.S. Mid Cap 6.9

Emerging Markets 5.1

International Small Cap 3.7

U.S. Small Cap 3.1

Global Large Cap 1.1

Fixed income 17.0

Multi-Sector Bond 5.7

Intermediate Bond 4.3

Bank Loan 2.3

Global Bond 2.3

High Yield Bond 1.2

Treasury Inflation-Protected Securities 1.1

Short-Term Bond 0.1

Alternative and specialty 13.4

Global Absolute Return Strategies 2.2

Technical Opportunities 2.2

Science & Technology 2.0

Currency 1.5

Financial Industries 1.4

Natural Resources 1.4

Real Estate 1.0

Redwood 0.8

Health Sciences 0.6

Seaport 0.3

As a percentage of net assets.

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 6-30-16 (%)

Class A Class B Class C Class I^1,2 Class R1¹ Class R2^1,2 Class R3¹ Class R4¹ Class R5¹ Class R6^1,2 Class 1¹ Class 5¹ Index 1³ Index 2³ Index 3³

Inception 10-18-05 10-18-05 10-18-05 10-15-05 9-18-06 10-18-05 10-18-05 10-18-05 10-18-05 10-15-05 10-15-05 7-3-06 10-18-05 10-18-05 10-18-05

Average annual total returns

1 year -8.42% -8.76% -5.21% -3.29% -3.88% -3.70% -3.85% -3.49% -3.29% -3.23% -3.28% -3.17% 3.99% 6.00% -0.10%

5 year 4.64% 4.63% 4.97% 5.36% 5.35% 5.47% 5.44% 5.84% 6.08% 6.14% 6.15% 6.21% 12.10% 3.76% 7.55%

10 year 4.11% 4.02% 3.90% 4.20% — 3.99% 4.39% 4.74% 5.01% 4.44% 5.10% 5.15% 7.42% 5.13% 6.08%

Since inception — — — — 4.24% — — — — — — — — — —

Cumulative returns

6 months -4.08% -4.46% -0.46% 1.08% 0.74% 0.88% 0.81% 1.01% 1.07% 1.15% 1.08% 1.15% 3.84% 5.31% 3.16%

5 year 25.44% 25.42% 27.42% 29.80% 29.80% 30.50% 30.30% 32.83% 34.34% 34.72% 34.76% 35.13% 77.02% 20.28% 43.90%

10 year 49.60% 48.36% 46.60% 50.92% — 47.92% 53.64% 58.89% 63.03% 54.46% 64.50% 65.29% 104.65% 64.97% 80.41%

Since inception — — — — 50.21% — — — — — — — — — —

Performance of the classes will vary based on the difference in sales charges paid by shareholders investing in the different classes and the fee structure of those classes.

Class A Class B Class C Class I Class R1 Class R2 Class R3 Class R4 Class R5 Class R6 Class 1 Class 5

Gross (%) 1.37 2.07 2.07 1.06 1.72 1.47 1.62 1.32 1.02 0.97 1.00 0.95

Net (%) 1.36 2.07 2.07 1.06 1.72 1.47 1.62 1.22 1.02 0.95 1.00 0.95

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.

1	For certain types of investors as described in the portfolio's prospectuses.
2	Class R2 shares were first offered on 3-1-12. The returns prior to this date are those of Class A shares that have been recalculated to apply the gross fees and expenses of Class R2 shares. Class R6 and Class I shares were first offered on 9-1-11 and 5-1-15, respectively. The returns prior to this date are those of Class 1 shares that have been recalculated to apply the gross fees and expenses of Class R6 and Class I shares, as applicable.
3	Index 1, Index 2, and Index 3 returns at 6-30-16 for the period beginning 9-18-06 (inception date of Class R1 shares) are 7.13%, 4.95%, and 5.87% (respectively, annualized) and 96.12%, 60.37%, and 74.80% (respectively, cumulative).

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 9

John Hancock Lifestyle Balanced Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Lifestyle Balanced Portfolio for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in two blended indexes and two separate indexes.

Index 1 is the S&P 500, an unmanaged index that includes 500 widely traded common stocks.

Index 2 is the Barclays U.S. Aggregate Bond Index, an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.

Index3 is 42% Russell 3000 Index, 18% MSCI All Country World ex-USA Index, 32% Barclays U.S. Aggregate Bond Index, and 8% Bank of America Merrill Lynch U.S. High Yield Master II Index.

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.

ASSET ALLOCATION (%)

Equity 50.8

U.S. Large Cap 23.5

International Large Cap 8.4

Large Blend 5.4

U.S. Mid Cap 4.8

Emerging Markets 3.0

International Small Cap 2.4

U.S. Small Cap 2.3

Global Large Cap 1.0

Fixed income 37.2

Multi-Sector Bond 12.1

Intermediate Bond 11.2

Bank Loan 4.7

Global Bond 4.6

High Yield Bond 2.3

Treasury Inflation-Protected Securities 2.1

Short-Term Bond 0.2

Alternative and specialty 12.0

Global Absolute Return Strategies 2.4

Science & Technology 1.7

Currency 1.6

Real Estate 1.2

Technical Opportunities 1.2

Financial Industries 1.2

Natural Resources 1.1

Redwood 0.8

Health Sciences 0.5

Seaport 0.3

As a percentage of net assets.

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 6-30-16 (%)

Class A Class B Class C Class I^1,2 Class R1¹ Class R2^1,2 Class R3¹ Class R4¹ Class R5¹ Class R6^1,2 Class 1¹ Class 5¹ Index 1³ Index 2³ Index 3³

Inception 10-18-05 10-18-05 10-18-05 10-15-05 9-18-06 10-18-05 10-18-05 10-18-05 10-18-05 10-15-05 10-15-05 7-3-06 10-18-05 10-18-05 10-18-05

Average annual total returns

1 year -6.68% -7.04% -3.42% -1.46% -2.03% -1.79% -2.01% -1.60% -1.41% -1.35% -1.40% -1.34% 3.99% 6.00% 1.31%

5 year 4.08% 4.04% 4.40% 4.81% 4.77% 4.91% 4.89% 5.31% 5.53% 5.57% 5.58% 5.63% 12.10% 3.76% 6.80%

10 year 4.25% 4.16% 4.05% 4.35% — 4.13% 4.53% 4.89% 5.16% 4.57% 5.22% 5.28% 7.42% 5.13% 6.12%

Since inception — — — — 4.25% — — — — — — — — — —

Cumulative returns

6 months -2.85% -3.18% 0.82% 2.33% 2.07% 2.20% 2.04% 2.32% 2.41% 2.38% 2.36% 2.38% 3.84% 5.31% 3.95%

5 year 22.13% 21.91% 24.00% 26.46% 26.23% 27.08% 26.97% 29.52% 30.86% 31.15% 31.19% 31.50% 77.02% 20.28% 38.95%

10 year 51.69% 50.30% 48.74% 53.06% — 49.84% 55.77% 61.17% 65.39% 56.30% 66.37% 67.32% 104.65% 64.97% 81.17%

Since inception — — — — 50.24% — — — — — — — — — —

Performance of the classes will vary based on the difference in sales charges paid by shareholders investing in the different classes and the fee structure of those classes.

Class A Class B Class C Class I Class R1 Class R2 Class R3 Class R4 Class R5 Class R6 Class 1 Class 5

Gross (%) 1.34 2.04 2.04 1.03 1.69 1.44 1.59 1.29 0.99 0.94 0.97 0.92

Net (%) 1.33 2.04 2.04 1.03 1.69 1.44 1.59 1.19 0.99 0.92 0.97 0.92

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.

1	For certain types of investors as described in the portfolio's prospectuses.
2	Class R2 shares were first offered on 3-1-12. The returns prior to this date are those of Class A shares that have been recalculated to apply the gross fees and expenses of Class R2 shares. Class R6 and Class I shares were first offered on 9-1-11 and 5-1-15, respectively. The returns prior to this date are those of Class 1 shares that have been recalculated to apply the gross fees and expenses of Class R6 and Class I shares, as applicable.
3	Index 1, Index 2, and Index 3 returns at 6-30-16 for the period beginning 9-18-06 (inception date of Class R1 shares) are 7.13%,4.95%, and 5.93% (respectively, annualized) and 96.12%, 60.37%, and 75.62% (respectively, cumulative).

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 10

John Hancock Lifestyle Moderate Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Lifestyle Moderate Portfolio for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in two blended indexes and two separate indexes.

Index 1 is the Barclays U.S. Aggregate Bond Index, an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.

Index 2 is the S&P 500, an unmanaged index that includes 500 widely traded common stocks.

Index 3 is 28% Russell 3000 Index, 12% MSCI All Country World ex-USA Index, 48% Barclays U.S. Aggregate Bond Index, and 12% Bank of America Merrill Lynch U.S. High Yield Master II Index.

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.

ASSET ALLOCATION (%)

Equity 35.7

U.S. Large Cap 18.1

International Large Cap 5.5

Large Blend 3.6

U.S. Mid Cap 3.0

Emerging Markets 1.7

International Small Cap 1.5

U.S. Small Cap 1.3

Global Large Cap 1.0

Fixed income 56.6

Intermediate Bond 21.9

Multi-Sector Bond 14.3

Global Bond 6.9

Bank Loan 6.5

High Yield Bond 3.4

Treasury Inflation-Protected Securities 3.3

Short-Term Bond 0.3

Alternative and specialty 7.7

Global Absolute Return Strategies 2.5

Currency 1.8

Real Estate 1.0

Redwood 0.8

Natural Resources 0.8

Enduring Equity 0.5

Seaport 0.3

As a percentage of net assets.

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 6-30-16 (%)

Class A Class B Class C Class I^1,2 Class R1¹ Class R2^1,2 Class R3¹ Class R4¹ Class R5¹ Class R6^1,2 Class 1¹ Class 5¹ Index 1³ Index 2³ Index 3³

Inception 10-18-05 10-18-05 10-18-05 10-18-05 9-18-06 10-18-05 10-18-05 10-18-05 10-18-05 10-15-05 10-15-05 7-3-06 10-18-05 10-18-05 10-18-05

Average annual total returns

1 year -4.50% -4.93% -1.20% 0.78% 0.20% 0.37% 0.22% 0.68% 0.82% 0.89% 0.84% 0.89% 6.00% 3.99% 2.66%

5 year 3.63% 3.60% 3.96% 4.39% 4.26% 4.45% 4.38% 4.78% 5.00% 5.07% 5.13% 5.17% 3.76% 12.10% 5.99%

10 year 4.38% 4.26% 4.17% 4.52% — 4.25% 4.59% 4.94% 5.23% 4.20% 5.36% 5.40% 5.13% 7.42% 6.07%

Since inception — — — — 4.36% — — — — — — — — — —

Cumulative returns

6 months -1.52% -1.78% 2.22% 3.75% 3.42% 3.54% 3.46% 3.66% 3.76% 3.81% 3.78% 3.81% 5.31% 3.84% 4.70%

5 year 19.53% 19.32% 21.44% 23.99% 23.19% 24.34% 23.89% 26.29% 27.65% 28.07% 28.43% 28.69% 20.28% 77.02% 33.74%

10 year 53.52% 51.80% 50.44% 55.60% — 51.58% 56.71% 61.90% 66.47% 50.85% 68.54% 69.26% 64.97% 104.65% 80.29%

Since inception — — — — 51.88% — — — — — — — — — —

Performance of the classes will vary based on the difference in sales charges paid by shareholders investing in the different classes and the fee structure of those classes.

Class A Class B Class C Class I Class R1 Class R2 Class R3 Class R4 Class R5 Class R6 Class 1 Class 5

Gross (%) 1.29 1.99 1.99 0.97 1.63 1.38 1.53 1.23 0.93 0.88 0.91 0.86

Net (%) 1.28 1.99 1.99 0.97 1.63 1.38 1.53 1.13 0.93 0.86 0.91 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.

1	For certain types of investors as described in the portfolio's prospectuses.
2	Class R2 shares were first offered on 3-1-12. The returns prior to this date are those of Class A shares that have been recalculated to apply the gross fees and expenses of Class R2 shares. Class R6 and Class I shares were first offered on 9-1-11 and 5-1-15, respectively. The returns prior to this date are those of Class 1 shares that have been recalculated to apply the gross fees and expenses of Class R6 and Class I shares, as applicable.
3	Index 1, Index 2, and Index 3 returns at 6-30-16 for the period beginning 9-18-06 (inception date of Class R1 shares) are 4.95%, 7.13%, and 5.88% (respectively, annualized) and 60.37%, 96.12%, and 74.86% (respectively, cumulative).

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 11

John Hancock Lifestyle Conservative Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Lifestyle Conservative Portfolio for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in two blended indexes and two separate indexes.

Index 1 is the Barclays U.S. Aggregate Bond Index, an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.

Index 2 is the S&P 500, an unmanaged index that includes 500 widely traded common stocks.

Index 3 is 14% Russell 3000 Index, 6% MSCI All Country World ex-USA Index, 64% Barclays U.S. Aggregate Bond Index, and 16% Bank of America Merrill Lynch U.S. High Yield Master II Index.

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.

ASSET ALLOCATION (%)

Equity 16.1

U.S. Large Cap 7.3

International Large Cap 4.0

Large Blend 1.7

U.S. Mid Cap 1.2

Emerging Markets 0.8

Global Large Cap 0.7

U.S. Small Cap 0.4

Fixed income 73.6

Intermediate Bond 30.0

Multi-Sector Bond 15.5

Global Bond 8.3

Bank Loan 7.5

Treasury Inflation-Protected Securities 5.1

Short-Term Bond 4.6

High Yield Bond 2.6

Alternative and specialty 10.3

Global Absolute Return Strategies 3.9

Currency 2.6

Enduring Equity 1.8

Real Estate 0.9

Redwood 0.5

Natural Resources 0.4

Seaport 0.2

As a percentage of net assets.

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 6-30-16 (%)

Class A Class B Class C Class I^1,2 Class R1¹ Class R2^1,2 Class R3¹ Class R4¹ Class R5¹ Class R6^1,2 Class 1¹ Index 1³ Index 2³ Index 3³

Inception 10-18-05 10-18-05 10-18-05 10-15-05 9-18-06 10-18-05 10-18-05 10-18-05 10-18-05 10-15-05 10-15-05 10-18-05 10-18-05 10-18-05

Average annual total returns

1 year -3.07% -3.53% 0.27% 2.36% 1.60% 1.86% 1.79% 2.19% 2.32% 2.39% 2.34% 6.00% 3.99% 3.95%

5 year 2.84% 2.80% 3.15% 3.62% 3.44% 3.66% 3.59% 3.94% 4.21% 4.26% 4.32% 3.76% 12.10% 5.12%

10 year 4.29% 4.20% 4.09% 4.45% — 4.16% 4.53% 4.83% 5.15% 3.93% 5.27% 5.13% 7.42% 5.92%

Since inception — — — — 4.23% — — — — — — — — —

Cumulative returns

6 months -0.83% -1.01% 2.99% 4.52% 4.18% 4.31% 4.24% 4.44% 4.54% 4.58% 4.56% 5.31% 3.84% 5.43%

5 year 15.02% 14.81% 16.80% 19.44% 18.41% 19.67% 19.30% 21.33% 22.88% 23.17% 23.54% 20.28% 77.02% 28.33%

10 year 52.26% 50.93% 49.27% 54.63% — 50.37% 55.75% 60.28% 65.18% 47.00% 67.07% 64.97% 104.65% 77.80%

Since inception — — — — 50.05% — — — — — — — — —

Performance of the classes will vary based on the difference in sales charges paid by shareholders investing in the different classes and the fee structure of those classes.

Class A Class B Class C Class I Class R1 Class R2 Class R3 Class R4 Class R5 Class R6 Class 1

Gross (%) 1.27 1.97 1.97 0.95 1.61 1.36 1.51 1.21 0.91 0.86 0.89

Net (%) 1.26 1.97 1.97 0.95 1.61 1.36 1.51 1.11 0.91 0.84 0.89

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.

1	For certain types of investors as described in the portfolio's prospectuses.
2	Class R2 shares were first offered on 3-1-12. The returns prior to this date are those of Class A shares that have been recalculated to apply the gross fees and expenses of Class R2 shares. Class R6 and Class I shares were first offered on 9-1-11 and 5-1-15, respectively. The returns prior to this date are those of Class 1 shares that have been recalculated to apply the gross fees and expenses of Class R6 and Class I shares, as applicable.
3	Index 1, Index 2, and Index 3 returns at 6-30-16 for the period beginning 9-18-06 (inception date of Class R1 shares) are 4.95%, 7.13%, and 5.73% (respectively, annualized) and 60.37%, 96.12%, and 72.54% (respectively, cumulative).

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 12

Your expenses

As a shareholder of a John Hancock Funds II Lifestyle Portfolios, you incur two types of costs: (1) transaction costs, including sales charges (loads) on certain purchases or redemptions, and (2) ongoing costs, including management fees, distribution and service (Rule 12b-1) fees, and other portfolio expenses. In addition to the operating expenses which each portfolio bears directly, the portfolio indirectly bears a pro rata share of the operating expenses of the underlying funds in which each portfolio invests. Because underlying funds have varied operating expenses and transaction costs and the portfolio may own different proportions of the underlying funds at different times, the amount of expenses incurred indirectly by the portfolio will vary. Had these indirect expenses been reflected in the following analysis, total expenses would have been higher than the amounts shown.

These examples are intended to help you understand your ongoing costs (in dollars) of investing in a portfolio so you can compare these costs with the ongoing costs of investing in other mutual funds. The examples are based on an investment of $1,000 at the beginning of the period and held for the entire period (January 1, 2016 through June 30, 2016).

Actual expenses:

The first line of each share class in the tables below and on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses paid during period" to estimate the expenses you paid on your account during this period.

Hypothetical example for comparison purposes:

The second line of each share class in the tables on the following pages provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed annualized rate of return of 5% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the tables are meant to highlight your ongoing costs only and do not reflect any transactional costs. Therefore, the second line of each share class in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. See the portfolios' prospectuses for details regarding transaction costs.

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 13

SHAREHOLDER EXPENSE EXAMPLE CHART

Beginning
account value
1/1/2016 Ending
account value
6/30/2016 Expenses paid
during period¹
1/1/2016 - 6/30/2016 Annualized
expense
ratio²

Lifestyle Aggressive Portfolio

Class A Actual $1,000.00 $1,001.30 $2.34 0.47%

Class A Hypothetical (5% annualized return before expenses) 1,000.00 1,022.50 2.36 0.47%

Class B Actual 1,000.00 998.00 5.91 1.19%

Class B Hypothetical (5% annualized return before expenses) 1,000.00 1,018.90 5.97 1.19%

Class C Actual 1,000.00 997.30 5.91 1.19%

Class C Hypothetical (5% annualized return before expenses) 1,000.00 1,018.90 5.97 1.19%

Class I Actual 1,000.00 1,002.00 0.85 0.17%

Class I Hypothetical (5% annualized return before expenses) 1,000.00 1,024.00 0.86 0.17%

Class R1 Actual 1,000.00 999.30 3.98 0.80%

Class R1 Hypothetical (5% annualized return before expenses) 1,000.00 1,020.90 4.02 0.80%

Class R2 Actual 1,000.00 1,000.70 2.84 0.57%

Class R2 Hypothetical (5% annualized return before expenses) 1,000.00 1,022.00 2.87 0.57%

Class R3 Actual 1,000.00 1,000.00 3.63 0.73%

Class R3 Hypothetical (5% annualized return before expenses) 1,000.00 1,021.20 3.67 0.73%

Class R4 Actual 1,000.00 1,002.00 1.64 0.33%

Class R4 Hypothetical (5% annualized return before expenses) 1,000.00 1,023.20 1.66 0.33%

Class R5 Actual 1,000.00 1,002.70 0.65 0.13%

Class R5 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.20 0.65 0.13%

Class R6 Actual 1,000.00 1,002.70 0.30 0.06%

Class R6 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.60 0.30 0.06%

Class 1 Actual 1,000.00 1,002.70 0.55 0.11%

Class 1 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.30 0.55 0.11%

Lifestyle Growth Portfolio

Class A Actual $1,000.00 $1,009.40 $2.35 0.47%

Class A Hypothetical (5% annualized return before expenses) 1,000.00 1,022.50 2.36 0.47%

Class B Actual 1,000.00 1,005.40 5.93 1.19%

Class B Hypothetical (5% annualized return before expenses) 1,000.00 1,018.90 5.97 1.19%

Class C Actual 1,000.00 1,005.40 5.93 1.19%

Class C Hypothetical (5% annualized return before expenses) 1,000.00 1,018.90 5.97 1.19%

Class I Actual 1,000.00 1,010.80 0.85 0.17%

Class I Hypothetical (5% annualized return before expenses) 1,000.00 1,024.00 0.86 0.17%

Class R1 Actual 1,000.00 1,007.40 4.04 0.81%

Class R1 Hypothetical (5% annualized return before expenses) 1,000.00 1,020.80 4.07 0.81%

Class R2 Actual 1,000.00 1,008.80 2.85 0.57%

Class R2 Hypothetical (5% annualized return before expenses) 1,000.00 1,022.00 2.87 0.57%

Class R3 Actual 1,000.00 1,008.10 3.64 0.73%

Class R3 Hypothetical (5% annualized return before expenses) 1,000.00 1,021.20 3.67 0.73%

Class R4 Actual 1,000.00 1,010.10 1.60 0.32%

Class R4 Hypothetical (5% annualized return before expenses) 1,000.00 1,023.30 1.61 0.32%

Class R5 Actual 1,000.00 1,010.70 0.65 0.13%

Class R5 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.20 0.65 0.13%

Class R6 Actual 1,000.00 1,011.50 0.30 0.06%

Class R6 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.60 0.30 0.06%

Class 1 Actual 1,000.00 1,010.80 0.55 0.11%

Class 1 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.30 0.55 0.11%

Class 5 Actual 1,000.00 1,011.50 0.30 0.06%

Class 5 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.60 0.30 0.06%

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 14

SHAREHOLDER EXPENSE EXAMPLE CHART (continued)

Beginning
account value
1/1/2016 Ending
account value
6/30/2016 Expenses paid
during period¹
1/1/2016 - 6/30/2016 Annualized
expense
ratio²

Lifestyle Balanced Portfolio

Class A Actual $1,000.00 $1,022.40 $2.36 0.47%

Class A Hypothetical (5% annualized return before expenses) 1,000.00 1,022.50 2.36 0.47%

Class B Actual 1,000.00 1,018.20 5.97 1.19%

Class B Hypothetical (5% annualized return before expenses) 1,000.00 1,018.90 5.97 1.19%

Class C Actual 1,000.00 1,018.20 5.97 1.19%

Class C Hypothetical (5% annualized return before expenses) 1,000.00 1,018.90 5.97 1.19%

Class I Actual 1,000.00 1,023.30 0.86 0.17%

Class I Hypothetical (5% annualized return before expenses) 1,000.00 1,024.00 0.86 0.17%

Class R1 Actual 1,000.00 1,020.70 4.12 0.82%

Class R1 Hypothetical (5% annualized return before expenses) 1,000.00 1,020.80 4.12 0.82%

Class R2 Actual 1,000.00 1,022.00 2.87 0.57%

Class R2 Hypothetical (5% annualized return before expenses) 1,000.00 1,022.00 2.87 0.57%

Class R3 Actual 1,000.00 1,020.40 3.62 0.72%

Class R3 Hypothetical (5% annualized return before expenses) 1,000.00 1,021.30 3.62 0.72%

Class R4 Actual 1,000.00 1,023.20 1.66 0.33%

Class R4 Hypothetical (5% annualized return before expenses) 1,000.00 1,023.20 1.66 0.33%

Class R5 Actual 1,000.00 1,024.10 0.65 0.13%

Class R5 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.20 0.65 0.13%

Class R6 Actual 1,000.00 1,023.80 0.30 0.06%

Class R6 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.60 0.30 0.06%

Class 1 Actual 1,000.00 1,023.60 0.55 0.11%

Class 1 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.30 0.55 0.11%

Class 5 Actual 1,000.00 1,023.80 0.30 0.06%

Class 5 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.60 0.30 0.06%

Lifestyle Moderate Portfolio

Class A Actual $1,000.00 $1,036.60 $2.38 0.47%

Class A Hypothetical (5% annualized return before expenses) 1,000.00 1,022.50 2.36 0.47%

Class B Actual 1,000.00 1,032.20 6.01 1.19%

Class B Hypothetical (5% annualized return before expenses) 1,000.00 1,018.90 5.97 1.19%

Class C Actual 1,000.00 1,032.20 6.01 1.19%

Class C Hypothetical (5% annualized return before expenses) 1,000.00 1,018.90 5.97 1.19%

Class I Actual 1,000.00 1,037.50 0.91 0.18%

Class I Hypothetical (5% annualized return before expenses) 1,000.00 1,024.00 0.91 0.18%

Class R1 Actual 1,000.00 1,034.20 4.00 0.79%

Class R1 Hypothetical (5% annualized return before expenses) 1,000.00 1,020.90 3.97 0.79%

Class R2 Actual 1,000.00 1,035.40 2.88 0.57%

Class R2 Hypothetical (5% annualized return before expenses) 1,000.00 1,022.00 2.87 0.57%

Class R3 Actual 1,000.00 1,034.60 3.64 0.72%

Class R3 Hypothetical (5% annualized return before expenses) 1,000.00 1,021.30 3.62 0.72%

Class R4 Actual 1,000.00 1,036.60 1.67 0.33%

Class R4 Hypothetical (5% annualized return before expenses) 1,000.00 1,023.20 1.66 0.33%

Class R5 Actual 1,000.00 1,037.60 0.66 0.13%

Class R5 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.20 0.65 0.13%

Class R6 Actual 1,000.00 1,038.10 0.30 0.06%

Class R6 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.60 0.30 0.06%

Class 1 Actual 1,000.00 1,037.80 0.56 0.11%

Class 1 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.30 0.55 0.11%

Class 5 Actual 1,000.00 1,038.10 0.30 0.06%

Class 5 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.60 0.30 0.06%

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 15

SHAREHOLDER EXPENSE EXAMPLE CHART (continued)

Beginning
account value
1/1/2016 Ending
account value
6/30/2016 Expenses paid
during period¹
1/1/2016 - 6/30/2016 Annualized
expense
ratio²

Lifestyle Conservative Portfolio

Class A Actual $1,000.00 $1,043.60 $2.39 0.47%

Class A Hypothetical (5% annualized return before expenses) 1,000.00 1,022.50 2.36 0.47%

Class B Actual 1,000.00 1,039.90 6.04 1.19%

Class B Hypothetical (5% annualized return before expenses) 1,000.00 1,018.90 5.97 1.19%

Class C Actual 1,000.00 1,039.90 6.04 1.19%

Class C Hypothetical (5% annualized return before expenses) 1,000.00 1,018.90 5.97 1.19%

Class I Actual 1,000.00 1,045.20 0.86 0.17%

Class I Hypothetical (5% annualized return before expenses) 1,000.00 1,024.00 0.86 0.17%

Class R1 Actual 1,000.00 1,041.80 4.11 0.81%

Class R1 Hypothetical (5% annualized return before expenses) 1,000.00 1,020.80 4.07 0.81%

Class R2 Actual 1,000.00 1,043.10 2.90 0.57%

Class R2 Hypothetical (5% annualized return before expenses) 1,000.00 1,022.00 2.87 0.57%

Class R3 Actual 1,000.00 1,042.40 3.35 0.66%

Class R3 Hypothetical (5% annualized return before expenses) 1,000.00 1,021.60 3.32 0.66%

Class R4 Actual 1,000.00 1,044.40 1.68 0.33%

Class R4 Hypothetical (5% annualized return before expenses) 1,000.00 1,023.20 1.66 0.33%

Class R5 Actual 1,000.00 1,045.40 0.66 0.13%

Class R5 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.20 0.65 0.13%

Class R6 Actual 1,000.00 1,045.80 0.31 0.06%

Class R6 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.60 0.30 0.06%

Class 1 Actual 1,000.00 1,045.60 0.56 0.11%

Class 1 Hypothetical (5% annualized return before expenses) 1,000.00 1,024.30 0.55 0.11%

¹ Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by the number of days in the period (182) and divided by 366 (to reflect the one-half year period).

² The portfolios' expense ratios do not include fees and expenses indirectly incurred by the underlying funds whose expense ratios can vary based on the mix of underlying funds held by the portfolios. The range of expense ratios of the underlying funds held by the portfolios was as follows:

Period ended Lifestyle Aggressive Lifestyle Growth Lifestyle Balanced Lifestyle Moderate Lifestyle Conservative

6-30-16 0.67%-3.39% 0.58%-3.39% 0.58%-3.39% 0.58%-3.39% 0.58%-3.39%

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 16

Portfolios' investments

INVESTMENT COMPANIES

Underlying Funds' Investment Managers

Allianz Global Investors U.S. LLC (Allianz)

Baillie Gifford Overseas Ltd. (Baillie Gifford)

Barrow, Hanley, Mewhinney & Strauss, LLC (Barrow Hanley)

Boston Partners (Boston Partners)

Brandywine Asset Management, Inc. (Brandywine)

Declaration Management & Research LLC (Declaration)

Deutsche Investment Management Americas, Inc. (Deutsche)

Dimensional Fund Advisors LP (DFA)

Epoch Investment Partners, Inc. (Epoch)

First Quadrant, L.P. (First Quadrant)

Franklin Templeton Investments Corp. (Franklin Templeton)

Grantham, Mayo, Van Otterloo & Co. LLC (GMO)

Invesco Advisers, Inc. (Invesco)

Jennison Associates LLC (Jennison)

John Hancock Asset Management (JHAM)

Pacific Investment Management Company LLC (PIMCO)

QS Investors, LLC (QS Investors)

Standard Life Investments (Corporate Funds) Limited (Standard Life)

Stone Harbor Investment Partners LP (Stone Harbor)

T. Rowe Price Associates, Inc. (T.Rowe Price)

Templeton Investment Counsel, LLC (Templeton)

Wellington Management Company, LLP (Wellington)

Wells Capital Management, Incorporated (Wells Capital)

Western Asset Management Company (WAMCO)

LIFESTYLE AGGRESSIVE PORTFOLIO

As of 6-30-16 (unaudited)

Shares Value

AFFILIATED INVESTMENT COMPANIES (G) - 100.0%

Equity - 86.1%

All Cap Core, Class NAV (QS Investors) 9,796,347 $116,674,491

Alpha Opportunities, Class NAV (Wellington) 21,352,203 226,760,400

Blue Chip Growth, Class NAV (T. Rowe Price) 6,125,915 187,820,566

Capital Appreciation, Class NAV (Jennison) 11,199,699 175,611,274

Capital Appreciation Value, Class NAV (T.Rowe Price) 16,686,946 189,063,100

Disciplined Value, Class NAV (Boston Partners) 5,352,561 93,295,130

Emerging Markets, Class NAV (DFA) 17,518,808 157,844,457

Emerging Markets Equity, Class NAV (JHAM) (A)(1) 16,540,840 146,055,616

Equity Income, Class NAV (T. Rowe Price) 11,259,936 200,539,460

Fundamental Global Franchise, Class NAV (JHAM) (A)(1) 3,050,295 39,806,353

Fundamental Large Cap Value, Class NAV (JHAM) (A)(1) 14,420,951 175,070,347

Global Equity, Class NAV (JHAM) (A)(1) 4,825,782 50,525,936

Global Shareholder Yield, Class NAV (Epoch) 3,339,831 35,602,595

Greater China Opportunities, Class NAV (JHAM) (A)(1) 641,400 11,250,160

International Core, Class NAV (GMO) 5,565,054 155,376,309

International Growth Opportunities, Class NAV (Baillie Gifford) 8,721,000 102,733,375

International Growth Stock, Class NAV (Invesco) 9,925,657 120,100,451

International Small Cap, Class NAV (Franklin Templeton) 5,660,272 94,922,769

International Small Company, Class NAV (DFA) 9,772,351 95,573,596

International Value, Class NAV (Templeton) 14,087,819 193,707,512

International Value Equity, Class NAV (JHAM) (A)(1) 11,738,961 83,698,793

Mid Cap Stock, Class NAV (Wellington) 9,306,900 167,151,922

Mid Value, Class NAV (T. Rowe Price) 8,572,490 130,559,018

New Opportunities, Class NAV (Brandywine/Invesco/DFA) 1,314,498 30,088,857

Small Cap Core, Class NAV (JHAM) (A)(1) 2,948,360 30,368,108

Small Cap Growth, Class NAV (Wellington) 4,291,236 31,883,887

Small Cap Value, Class NAV (Wellington) 2,090,181 40,235,993

Small Company Growth, Class NAV (Invesco) 1,654,145 28,848,288

Small Company Value, Class NAV (T. Rowe Price) 1,050,879 27,890,317

Strategic Growth, Class NAV (JHAM) (A)(1) 11,387,744 176,396,147

U.S. Equity, Class NAV (GMO) 7,008,902 71,560,893

Value, Class NAV (Invesco) 5,402,140 55,263,892

Value Equity, Class NAV (Barrow Hanley) 5,238,806 51,968,957

Alternative and specialty - 13.9%

Absolute Return Currency, Class NAV (First Quadrant) (I) 3,299,172 31,012,215

Financial Industries, Class NAV (JHAM) (A)(1) 4,519,908 69,561,381

Global Focused Strategies, Class NAV (Standard Life) (I) 4,866,791 47,597,213

Global Real Estate, Class NAV (Deutsche) 2,021,037 20,210,374

Health Sciences, Class NAV (T. Rowe Price) 5,135,122 28,294,526

Natural Resources, Class NAV (Jennison) 7,314,915 81,927,045

Real Estate Equity, Class NAV (T. Rowe Price) 1,663,405 20,210,374

Redwood, Class NAV (Boston Partners) 2,944,309 29,590,308

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 17

Shares Value

Alternative and specialty - (continued)

Science & Technology, Class NAV (T. Rowe Price/Allianz) 9,330,736 $101,051,872

Seaport, Class NAV (Wellington) 1,933,793 20,266,149

Technical Opportunities, Class NAV (Wellington) 10,527,732 112,857,289

Total Investments (Lifestyle Aggressive Portfolio) (Cost $3,479,007,603) - 100.0% $4,056,827,715

Other assets and liabilities, net - 0.0% (361,476)

TOTAL NET ASSETS - 100.0% $4,056,466,239

LIFESTYLE GROWTH PORTFOLIO

As of 6-30-16 (unaudited)

Shares Value

AFFILIATED INVESTMENT COMPANIES (G) - 100.0%

Equity - 69.6%

All Cap Core, Class NAV (QS Investors) 25,177,739 $299,866,876

Alpha Opportunities, Class NAV (Wellington) 49,551,765 526,239,743

Blue Chip Growth, Class NAV (T. Rowe Price) 16,178,049 496,018,978

Capital Appreciation, Class NAV (Jennison) 28,715,396 450,257,414

Capital Appreciation Value, Class NAV (T.Rowe Price) 58,347,218 661,073,977

Disciplined Value, Class NAV (Boston Partners) 13,933,567 242,862,072

Emerging Markets, Class NAV (DFA) 37,926,474 341,717,533

Emerging Markets Equity, Class NAV (JHAM) (A)(1) 35,268,751 311,423,075

Equity Income, Class NAV (T. Rowe Price) 30,302,835 539,693,494

Fundamental Global Franchise, Class NAV (JHAM) (A)(1) 10,363,464 135,243,207

Fundamental Large Cap Value, Class NAV (JHAM) (A)(1) 34,225,462 415,497,107

Global Equity, Class NAV (JHAM) (A)(1) 13,315,238 139,410,541

Global Shareholder Yield, Class NAV (Epoch) 16,940,320 180,583,810

International Core, Class NAV (GMO) 14,906,070 416,177,472

International Growth Opportunities, Class NAV (Baillie Gifford) 18,182,405 214,188,736

International Growth Stock, Class NAV (Invesco) 24,006,442 290,477,950

International Small Cap, Class NAV (Franklin Templeton) 13,994,176 234,682,332

International Small Company, Class NAV (DFA) 24,190,125 236,579,425

International Value, Class NAV (Templeton) 32,671,398 449,231,727

International Value Equity, Class NAV (JHAM) (A)(1) 28,810,352 205,417,807

Mid Cap Stock, Class NAV (Wellington) 23,266,355 417,863,733

Mid Value, Class NAV (T. Rowe Price) 21,883,296 333,282,598

New Opportunities, Class NAV (Brandywine/Invesco/DFA) 2,727,347 62,428,982

Small Cap Core, Class NAV (JHAM) (A)(1) 6,161,318 63,461,575

Small Cap Growth, Class NAV (Wellington) 8,712,641 64,734,923

Small Cap Value, Class NAV (Wellington) 4,532,821 87,256,798

Small Company Growth, Class NAV (Invesco) 3,407,414 59,425,304

Small Company Value, Class NAV (T. Rowe Price) 2,239,962 59,448,602

Strategic Growth, Class NAV (JHAM) (A)(1) 29,558,738 457,864,847

U.S. Equity, Class NAV (GMO) 25,629,708 261,679,317

Value, Class NAV (Invesco) 13,383,622 136,914,448

Value Equity, Class NAV (Barrow Hanley) 17,126,553 169,895,409

Fixed income - 17.0%

Active Bond, Class NAV (JHAM/Declaration) (A)(1) 24,956,955 $254,810,515

Asia Pacific Total Return Bond, Class NAV (JHAM) (A)(1) 8,420,801 79,744,987

Core Bond, Class NAV (Wells Capital) 6,175,987 82,758,220

Emerging Markets Debt, Class NAV (JHAM) (A)(1) 14,016,272 131,052,142

Floating Rate Income, Class NAV (WAMCO) 36,100,023 301,796,190

Focused High Yield, Class NAV (JHAM) (A)(1) 21,882,757 72,650,753

Global Bond, Class NAV (PIMCO) 2,683,745 34,727,656

Global Income, Class NAV (Stone Harbor) 8,413,488 77,404,086

Global Short Duration Credit, Class NAV (JHAM) (A)(1) 6,352,567 56,220,216

High Yield, Class NAV (WAMCO) 4,417,201 34,277,482

Real Return Bond, Class NAV (PIMCO) 12,738,767 143,820,681

Short Duration Credit Opportunities, Class NAV (Stone Harbor) 22,667,073 215,337,190

Short Term Government Income, Class NAV (JHAM) (A)(1) 1,660,911 16,077,618

Spectrum Income, Class NAV (T. Rowe Price) 13,866,679 146,293,465

Strategic Income Opportunities, Class NAV (JHAM) (A)(1) 27,904,678 295,789,592

Total Return, Class NAV (PIMCO) 13,822,037 188,532,584

U.S. High Yield Bond, Class NAV (Wells Capital) 4,794,542 51,157,767

Alternative and specialty - 13.4%

Absolute Return Currency, Class NAV (First Quadrant) (I) 20,322,095 191,027,694

Financial Industries, Class NAV (JHAM) (A)(1) 11,998,499 184,656,896

Global Absolute Return Strategies, Class NAV (Standard Life) 28,595,744 284,241,697

Global Real Estate, Class NAV (Deutsche) 6,431,047 64,310,474

Health Sciences, Class NAV (T. Rowe Price) 15,100,360 83,202,984

Natural Resources, Class NAV (Jennison) 16,420,140 183,905,565

Real Estate Equity, Class NAV (T. Rowe Price) 5,262,343 63,937,473

Redwood, Class NAV (Boston Partners) 10,301,194 103,527,000

Science & Technology, Class NAV (T. Rowe Price/Allianz) 24,360,784 263,827,287

Seaport, Class NAV (Wellington) 3,851,460 40,363,302

Technical Opportunities, Class NAV (Wellington) 24,981,383 267,800,429

Total Investments (Lifestyle Growth Portfolio) (Cost $11,373,055,412) - 100.0% $12,874,151,757

Other assets and liabilities, net - 0.0% 415,845

TOTAL NET ASSETS - 100.0% $12,874,567,602

LIFESTYLE BALANCED PORTFOLIO

As of 6-30-16 (unaudited)

Shares Value

AFFILIATED INVESTMENT COMPANIES (G) - 100.0%

Equity - 50.8%

All Cap Core, Class NAV (QS Investors) 15,517,519 $184,813,654

Alpha Opportunities, Class NAV (Wellington) 36,154,953 383,965,604

Blue Chip Growth, Class NAV (T. Rowe Price) 12,473,987 382,452,444

Capital Appreciation, Class NAV (Jennison) 20,644,920 323,712,338

Capital Appreciation Value, Class NAV (T.Rowe Price) 57,034,556 646,201,523

Disciplined Value, Class NAV (Boston Partners) 11,518,771 200,772,185

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 18

Shares Value

Equity - (continued)

Emerging Markets, Class NAV (DFA) 23,155,844 $208,634,153

Emerging Markets Equity, Class NAV (JHAM) (A)(1) 22,467,584 198,388,763

Equity Income, Class NAV (T. Rowe Price) 22,998,768 409,608,062

Fundamental Global Franchise, Class NAV (JHAM) (A)(1) 10,183,407 132,893,456

Fundamental Large Cap Value, Class NAV (JHAM) (A)(1) 25,786,098 313,043,225

Global Equity, Class NAV (JHAM) (A)(1) 13,494,916 141,291,773

Global Shareholder Yield, Class NAV (Epoch) 15,997,097 170,529,059

International Core, Class NAV (GMO) 9,705,425 270,975,461

International Growth Opportunities, Class NAV (Baillie Gifford) 14,076,616 165,822,539

International Growth Stock, Class NAV (Invesco) 17,922,685 216,864,489

International Small Cap, Class NAV (Franklin Templeton) 9,515,084 159,567,966

International Small Company, Class NAV (DFA) 16,447,634 160,857,860

International Value, Class NAV (Templeton) 25,483,089 350,392,472

International Value Equity, Class NAV (JHAM) (A)(1) 20,978,200 149,574,565

Mid Cap Stock, Class NAV (Wellington) 16,644,171 298,929,305

Mid Value, Class NAV (T. Rowe Price) 16,249,723 247,483,285

New Opportunities, Class NAV (Brandywine/Invesco/DFA) 2,062,860 47,218,868

Small Cap Core, Class NAV (JHAM) (A)(1) 4,686,367 48,269,582

Small Cap Growth, Class NAV (Wellington) 6,746,903 50,129,491

Small Cap Value, Class NAV (Wellington) 3,487,989 67,143,786

Small Company Growth, Class NAV (Invesco) 2,564,029 44,716,660

Small Company Value, Class NAV (T. Rowe Price) 1,797,806 47,713,768

Strategic Growth, Class NAV (JHAM) (A)(1) 21,219,282 328,686,675

U.S. Equity, Class NAV (GMO) 25,044,036 255,699,611

Value, Class NAV (Invesco) 9,973,381 102,027,685

Value Equity, Class NAV (Barrow Hanley) 12,294,764 121,964,057

Fixed income - 37.2%

Active Bond, Class NAV (JHAM/Declaration) (A)(1) 59,892,893 611,506,435

Asia Pacific Total Return Bond, Class NAV (JHAM) (A)(1) 14,743,807 139,623,856

Core Bond, Class NAV (Wells Capital) 18,974,899 254,263,643

Emerging Markets Debt, Class NAV (JHAM) (A)(1) 19,445,653 181,816,854

Floating Rate Income, Class NAV (WAMCO) 74,799,871 625,326,919

Focused High Yield, Class NAV (JHAM) (A)(1) 42,443,225 140,911,508

Global Bond, Class NAV (PIMCO) 12,057,933 156,029,659

Global Income, Class NAV (Stone Harbor) 14,378,280 132,280,178

Global Short Duration Credit, Class NAV (JHAM) (A)(1) 15,300,372 135,408,289

High Yield, Class NAV (WAMCO) 9,205,721 71,436,398

Investment Quality Bond, Class NAV (Wellington) 17,308,831 216,014,215

Real Return Bond, Class NAV (PIMCO) 25,266,095 285,254,212

Short Duration Credit Opportunities, Class NAV (Stone Harbor) 52,380,144 497,611,367

Short Term Government Income, Class NAV (JHAM) (A)(1) 3,363,277 32,556,524

Spectrum Income, Class NAV (T. Rowe Price) 34,508,929 364,069,204

Strategic Income Opportunities, Class NAV (JHAM) (A)(1) 58,956,376 624,937,583

Total Return, Class NAV (PIMCO) 31,390,170 428,161,924

U.S. High Yield Bond, Class NAV (Wells Capital) 9,690,620 $103,398,912

Alternative and specialty - 12.0%

Absolute Return Currency, Class NAV (First Quadrant) (I) 22,708,232 213,457,382

Financial Industries, Class NAV (JHAM) (A)(1) 10,425,626 160,450,385

Global Absolute Return Strategies, Class NAV (Standard Life) 32,004,358 318,123,315

Global Real Estate, Class NAV (Deutsche) 10,012,642 100,126,415

Health Sciences, Class NAV (T. Rowe Price) 12,120,577 66,784,378

Natural Resources, Class NAV (Jennison) 12,762,071 142,935,190

Real Estate Equity, Class NAV (T. Rowe Price) 5,493,905 66,750,943

Redwood, Class NAV (Boston Partners) 10,442,400 104,946,123

Science & Technology, Class NAV (T. Rowe Price/Allianz) 21,711,167 235,131,943

Seaport, Class NAV (Wellington) 3,724,049 39,028,030

Technical Opportunities, Class NAV (Wellington) 15,529,347 166,474,597

Total Investments (Lifestyle Balanced Portfolio) (Cost $12,149,705,528) - 100.0% $13,445,160,745

Other assets and liabilities, net - 0.0% (2,763,413)

TOTAL NET ASSETS - 100.0% $13,442,397,332

LIFESTYLE MODERATE PORTFOLIO

As of 6-30-16 (unaudited)

Shares Value

AFFILIATED INVESTMENT COMPANIES (G) - 100.0%

Equity - 35.7%

Alpha Opportunities, Class NAV (Wellington) 6,372,233 $67,673,113

Blue Chip Growth, Class NAV (T. Rowe Price) 3,066,617 94,022,484

Capital Appreciation, Class NAV (Jennison) 4,866,378 76,304,800

Capital Appreciation Value, Class NAV (T.Rowe Price) 16,417,060 186,005,290

Emerging Markets, Class NAV (DFA) 3,992,763 35,974,797

Emerging Markets Equity, Class NAV (JHAM) (A)(1) 3,761,771 33,216,440

Equity Income, Class NAV (T. Rowe Price) 7,157,761 127,479,717

Fundamental Global Franchise, Class NAV (JHAM) (A)(1) 3,062,281 39,962,768

Fundamental Large Cap Value, Class NAV (JHAM) (A)(1) 10,172,921 123,499,264

Global Equity, Class NAV (JHAM) (A)(1) 4,090,153 42,823,904

Global Shareholder Yield, Class NAV (Epoch) 4,515,393 48,134,086

International Core, Class NAV (GMO) 2,021,614 56,443,468

International Growth Opportunities, Class NAV (Baillie Gifford) 3,100,073 36,518,857

International Growth Stock, Class NAV (Invesco) 3,257,686 39,418,001

International Small Cap, Class NAV (Franklin Templeton) 1,861,397 31,215,629

International Small Company, Class NAV (DFA) 3,209,357 31,387,511

International Value, Class NAV (Templeton) 4,673,731 64,263,806

International Value Equity, Class NAV (JHAM) (A)(1) 3,621,370 25,820,365

Mid Cap Stock, Class NAV (Wellington) 3,296,696 59,208,656

Mid Value, Class NAV (T. Rowe Price) 4,438,305 67,595,383

Small Cap Growth, Class NAV (Wellington) 1,667,039 12,386,098

Small Cap Value, Class NAV (Wellington) 901,093 17,346,033

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 19

Shares Value

Equity - (continued)

Small Company Growth, Class NAV (Invesco) 654,873 $11,420,991

Small Company Value, Class NAV (T. Rowe Price) 464,053 12,315,963

Strategic Growth, Class NAV (JHAM) (A)(1) 5,008,077 77,575,112

U.S. Equity, Class NAV (GMO) 7,523,687 76,816,841

Fixed income - 56.6%

Active Bond, Class NAV (JHAM/Declaration) (A)(1) 35,579,354 363,265,199

Asia Pacific Total Return Bond, Class NAV (JHAM) (A)(1) 7,961,220 75,392,756

Core Bond, Class NAV (Wells Capital) 11,743,949 157,368,914

Emerging Markets Debt, Class NAV (JHAM) (A)(1) 8,401,298 78,552,134

Floating Rate Income, Class NAV (WAMCO) 32,706,267 273,424,394

Focused High Yield, Class NAV (JHAM) (A)(1) 18,065,755 59,978,307

Global Bond, Class NAV (PIMCO) 7,282,917 94,240,944

Global Income, Class NAV (Stone Harbor) 5,771,006 53,093,254

Global Short Duration Credit, Class NAV (JHAM) (A)(1) 4,534,451 40,129,888

High Yield, Class NAV (WAMCO) 4,581,967 35,556,061

Investment Quality Bond, Class NAV (Wellington) 11,559,283 144,259,849

Real Return Bond, Class NAV (PIMCO) 12,081,570 136,400,924

Short Duration Credit Opportunities, Class NAV (Stone Harbor) 19,078,335 181,244,184

Short Term Government Income, Class NAV (JHAM) (A)(1) 1,254,815 12,146,611

Spectrum Income, Class NAV (T. Rowe Price) 13,543,302 142,881,837

Strategic Income Opportunities, Class NAV (JHAM) (A)(1) 21,026,202 222,877,739

Total Return, Class NAV (PIMCO) 18,596,695 253,658,926

U.S. High Yield Bond, Class NAV (Wells Capital) 4,432,758 47,297,524

Alternative and specialty - 7.7%

Absolute Return Currency, Class NAV (First Quadrant) (I) 7,982,777 75,038,105

Enduring Assets, Class NAV (Wellington) 1,851,674 20,942,432

Global Absolute Return Strategies, Class NAV (Standard Life) 11,142,147 110,752,938

Global Real Estate, Class NAV (Deutsche) 2,094,243 20,942,432

Natural Resources, Class NAV (Jennison) 2,811,888 31,493,142

Real Estate Equity, Class NAV (T. Rowe Price) 1,723,657 20,942,432

Redwood, Class NAV (Boston Partners) 3,144,036 31,597,562

Seaport, Class NAV (Wellington) 1,086,314 11,384,572

Total Investments (Lifestyle Moderate Portfolio) (Cost $3,903,513,813) - 100.0% $4,189,692,437

Other assets and liabilities, net - 0.0% (847,246)

TOTAL NET ASSETS - 100.0% $4,188,845,191

LIFESTYLE CONSERVATIVE PORTFOLIO

As of 6-30-16

Shares Value

AFFILIATED INVESTMENT COMPANIES (G) - 100.0%

Equity - 16.1%

Alpha Opportunities, Class NAV (Wellington) 3,011,935 $31,986,751

Blue Chip Growth, Class NAV (T. Rowe Price) 1,068,500 32,760,196

Capital Appreciation, Class NAV (Jennison) 453,820 $7,115,895

Capital Appreciation Value, Class NAV (T.Rowe Price) 7,334,262 83,097,190

Emerging Markets, Class NAV (DFA) 1,563,033 14,082,930

Emerging Markets Equity, Class NAV (JHAM) (A)(1) 1,239,799 10,947,421

Equity Income, Class NAV (T. Rowe Price) 2,121,568 37,785,130

Fundamental Global Franchise, Class NAV (JHAM) (A)(1) 1,676,849 21,882,875

Fundamental Large Cap Value, Class NAV (JHAM) (A)(1) 2,857,390 34,688,716

Global Equity, Class NAV (JHAM) (A)(1) 2,884,344 30,199,084

Global Shareholder Yield, Class NAV (Epoch) 2,152,988 22,950,849

International Core, Class NAV (GMO) 1,065,637 29,752,573

International Growth Stock, Class NAV (Invesco) 2,720,512 32,918,199

International Value, Class NAV (Templeton) 2,867,317 39,425,610

Mid Cap Stock, Class NAV (Wellington) 1,230,416 22,098,263

Mid Value, Class NAV (T. Rowe Price) 1,038,832 15,821,409

Small Cap Growth, Class NAV (Wellington) 976,706 7,256,929

Small Cap Value, Class NAV (Wellington) 224,966 4,330,601

Small Company Value, Class NAV (T. Rowe Price) 115,167 3,056,525

Strategic Growth, Class NAV (JHAM) (A)(1) 471,630 7,305,549

U.S. Equity, Class NAV (GMO) 3,501,968 35,755,095

Fixed income - 73.6%

Active Bond, Class NAV (JHAM/Declaration) (A)(1) 38,007,475 388,056,321

Asia Pacific Total Return Bond, Class NAV (JHAM) (A)(1) 6,558,483 62,108,836

Core Bond, Class NAV (Wells Capital) 12,646,966 169,469,347

Core High Yield, Class NAV (JHAM) (A)(2) 4,835,551 44,777,202

Emerging Markets Debt, Class NAV (JHAM) (A)(1) 8,743,815 81,754,672

Floating Rate Income, Class NAV (WAMCO) 29,269,825 244,695,738

Focused High Yield, Class NAV (JHAM) (A)(1) 1,730,623 5,745,669

Global Bond, Class NAV (PIMCO) 7,881,704 101,989,246

Global Income, Class NAV (Stone Harbor) 2,877,330 26,471,440

Global Short Duration Credit, Class NAV (JHAM) (A)(1) 3,035,447 26,863,706

High Yield, Class NAV (WAMCO) 2,003,035 15,543,553

Investment Quality Bond, Class NAV (Wellington) 12,122,905 151,293,855

Real Return Bond, Class NAV (PIMCO) 14,733,216 166,338,008

Short Duration Credit Opportunities, Class NAV (Stone Harbor) 16,752,181 159,145,720

Short Term Government Income, Class NAV (JHAM) (A)(1) 15,525,520 150,287,038

Spectrum Income, Class NAV (T. Rowe Price) 11,955,757 126,133,239

Strategic Income Opportunities, Class NAV (JHAM) (A)(1) 18,545,994 196,587,541

Total Return, Class NAV (PIMCO) 19,878,614 271,144,295

U.S. High Yield Bond, Class NAV (Wells Capital) 1,822,809 19,449,371

Alternative and specialty - 10.3%

Absolute Return Currency, Class NAV (First Quadrant) (I) 9,174,373 86,239,110

Enduring Assets, Class NAV (Wellington) 5,163,453 58,398,650

Global Absolute Return Strategies, Class NAV (Standard Life) 12,828,423 127,514,522

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 20

Shares Value

Alternative and specialty - (continued)

Global Real Estate, Class NAV (Deutsche) 1,459,885 $14,598,845

Natural Resources, Class NAV (Jennison) 1,287,303 14,417,792

Real Estate Equity, Class NAV (T. Rowe Price) 1,201,551 14,598,845

Redwood, Class NAV (Boston Partners) 1,704,742 17,132,662

Seaport, Class NAV (Wellington) 539,542 5,654,403

Total Investments (Lifestyle Conservative Portfolio) (Cost $3,171,627,915) - 100.0% $3,271,627,416

Other assets and liabilities, net - 0.0% (518,590)

TOTAL NET ASSETS - 100.0% $3,271,108,826

Percentages are based upon net assets.

(A) The subadvisor is an affiliate of the advisor.

(G) The portfolio's subadvisor is shown parenthetically.

(I) Non-income producing.

(1) Manulife Asset Management (US) LLC is doing business as John Hancock Asset Management.

(2) Manulife Asset Management (North America) Limited is doing business as John Hancock Asset Management.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 21

Financial statements

STATEMENTS OF ASSETS AND LIABILITIES 6-30-16 (unaudited)

Lifestyle Aggressive Portfolio Lifestyle Growth Portfolio Lifestyle Balanced Portfolio Lifestyle Moderate Portfolio Lifestyle Conservative Portfolio

Assets

Investments in affiliated funds, at value 4,056,827,715 12,874,151,757 13,445,160,745 4,189,692,437 3,271,627,416

Cash 166 650 742 288 245

Receivable for investments sold 22,780,482 49,392,171 43,990,742 10,576,787 12,041,028

Receivable for fund shares sold 541,075 3,660,990 2,027,193 3,737,957 1,544,732

Dividends and interest receivable 45,800 4,616,133 9,235,785 3,642,663 3,108,307

Receivable due from advisor 170 659 750 290 245

Other assets 96,032 166,598 146,866 93,696 97,957

Total assets 4,080,291,440 12,931,988,958 13,500,562,823 4,207,744,118 3,288,419,930

Liabilities

Payable for investments purchased — 4,662,547 9,477,689 3,747,787 3,201,237

Payable for fund shares repurchased 23,615,916 52,104,776 47,908,586 14,739,167 13,587,793

Distributions payable — — 68,103 128,054 277,205

Payable to affiliates

Accounting and legal services fees 71,043 225,264 235,022 73,220 57,023

Transfer agent fees 60,192 244,100 282,753 112,975 99,153

Trustees' fees 2,827 8,801 9,304 2,855 2,222

Distribution and service fees 12,989 35,252 37,133 15,053 13,241

Other liabilities and accrued expenses 62,234 140,616 146,901 79,816 73,230

Total liabilities 23,825,201 57,421,356 58,165,491 18,898,927 17,311,104

Net assets $4,056,466,239 $12,874,567,602 $13,442,397,332 $4,188,845,191 $3,271,108,826

Net assets consist of

Paid-in capital $3,349,351,696 $11,051,730,450 $12,048,275,754 $3,892,313,571 $3,196,236,078

Undistributed net investment income (loss) (1,033,525 ) 33,053,328 1,314,991 527,178 451,712

Accumulated undistributed net realized gain (loss) on investments 130,327,956 288,687,479 97,351,370 9,825,818 (25,578,465 )

Net unrealized appreciation (depreciation) on investments 577,820,112 1,501,096,345 1,295,455,217 286,178,624 99,999,501

Net assets $4,056,466,239 $12,874,567,602 $13,442,397,332 $4,188,845,191 $3,271,108,826

Investments in affiliated funds, at cost $3,479,007,603 $11,373,055,412 $12,149,705,528 $3,903,513,813 $3,171,627,915

Net asset value per share

The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.

Class A¹

Net assets $410,537,588 $1,624,309,630 $1,850,985,935 $697,740,768 $607,241,290

Shares outstanding 27,577,947 108,078,508 127,070,979 51,618,902 47,220,921

Net asset value and redemption price per share $14.89 $15.03 $14.57 $13.52 $12.86

Class B¹

Net assets $13,638,925 $64,697,787 $68,759,298 $28,274,587 $27,472,625

Shares outstanding 917,388 4,307,431 4,722,216 2,093,417 2,135,243

Net asset value, offering price and redemption price per share $14.87 $15.02 $14.56 $13.51 $12.87

Class C¹

Net assets $161,979,803 $707,878,761 $850,511,153 $384,806,530 $342,235,833

Shares outstanding 10,886,965 47,177,815 58,356,682 28,463,487 26,608,306

Net asset value, offering price and redemption price per share $14.88 $15.00 $14.57 $13.52 $12.86

Class I

Net assets $3,152,167 $7,893,084 $11,104,479 $3,390,288 $5,550,028

Shares outstanding 212,061 527,012 766,325 251,718 432,317

Net asset value, offering price and redemption price per share $14.86 $14.98 $14.49 $13.47 $12.84

Class R1

Net assets $6,806,544 $18,722,517 $18,248,280 $7,486,427 $9,150,772

Shares outstanding 457,117 1,242,636 1,257,922 554,587 711,945

Net asset value, offering price and redemption price per share $14.89 $15.07 $14.51 $13.50 $12.85

Class R2

Net assets $6,411,630 $17,227,448 $13,569,731 $7,013,304 $6,480,939

Shares outstanding 433,036 1,153,167 936,130 520,545 504,590

Net asset value, offering price and redemption price per share $14.81 $14.94 $14.50 $13.47 $12.84

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 22

STATEMENTS OF ASSETS AND LIABILITIES 6-30-16 (unaudited)

Continued

Lifestyle Aggressive Portfolio Lifestyle Growth Portfolio Lifestyle Balanced Portfolio Lifestyle Moderate Portfolio Lifestyle Conservative Portfolio

Class R3

Net assets $5,328,107 $13,618,467 $22,431,200 $7,755,857 $6,589,729

Shares outstanding 359,112 908,590 1,543,732 574,962 513,572

Net asset value, offering price and redemption price per share $14.84 $14.99 $14.53 $13.49 $12.83

Class R4

Net assets $8,924,476 $20,122,569 $26,437,416 $11,376,954 $7,967,996

Shares outstanding 601,340 1,339,668 1,818,588 844,820 620,756

Net asset value, offering price and redemption price per share $14.84 $15.02 $14.54 $13.47 $12.84

Class R5

Net assets $7,379,322 $27,050,800 $21,579,122 $10,480,579 $7,774,044

Shares outstanding 496,129 1,796,919 1,482,487 777,554 605,408

Net asset value, offering price and redemption price per share $14.87 $15.05 $14.56 $13.48 $12.84

Class R6

Net assets $19,603,982 $51,036,706 $49,486,441 $36,566,981 $13,835,573

Shares outstanding 1,319,038 3,404,633 3,415,446 2,716,416 1,078,300

Net asset value, offering price and redemption price per share $14.86 $14.99 $14.49 $13.46 $12.83

Class 1

Net assets $3,412,703,695 $10,073,320,907 $10,363,480,630 $2,937,958,051 $2,236,809,997

Shares outstanding 229,835,084 671,958,426 715,550,594 217,975,563 174,284,647

Net asset value, offering price and redemption price per share $14.85 $14.99 $14.48 $13.48 $12.83

Class 5

Net assets — $248,688,926 $145,803,647 $55,994,865 —

Shares outstanding — 16,606,311 10,063,112 4,158,943 —

Net asset value, offering price and redemption price per share — $14.98 $14.49 $13.46 —

Maximum Public Offering Price Per Share:

Class A (net asset value per share ÷ 95%)² $15.67 $15.82 $15.34 $14.23 $13.54

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

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 23

STATEMENTS OF OPERATIONS For the six months ended 6-30-16 (unaudited)

Lifestyle Aggressive Portfolio Lifestyle Growth Portfolio Lifestyle Balanced Portfolio Lifestyle Moderate Portfolio Lifestyle Conservative Portfolio

Investment income

Income distributions received from affiliated funds $2,921,046 $47,006,767 $88,718,765 $38,402,284 $33,742,386

Expenses

Investment management fees 1,480,138 4,417,059 4,528,990 1,183,981 886,641

Distribution and service fees 2,377,032 8,865,129 10,057,694 3,885,417 3,346,576

Transfer agent fees 368,384 1,501,243 1,750,108 699,014 611,962

Accounting and legal services fees 243,175 769,548 806,504 250,892 194,926

State registration fees 75,076 114,002 130,799 87,888 85,536

Professional fees 49,616 104,781 108,537 50,154 43,825

Printing and postage 26,336 96,381 85,756 28,821 20,829

Custodian fees (14,096 ) (26,909 ) (13,605 ) 1,808 936

Trustees' fees 35,152 110,659 115,551 35,776 27,608

Registration and filing fees 7,804 7,804 7,804 7,804 7,804

Other 21,374 52,660 54,867 22,236 18,275

Total expenses before reductions 4,669,991 16,012,357 17,633,005 6,253,791 5,244,918

Less expense reductions (715,420 ) (2,058,918 ) (2,022,079 ) (399,368 ) (314,676 )

Net expenses 3,954,571 13,953,439 15,610,926 5,854,423 4,930,242

Net investment income (loss) (1,033,525 ) 33,053,328 73,107,839 32,547,861 28,812,144

Realized and unrealized gain (loss)

Net realized gain (loss) on

Investments in affiliated funds (37,374,380 ) (138,896,071 ) (152,291,471 ) (46,956,631 ) (23,668,252 )

(37,374,380 ) (138,896,071 ) (152,291,471 ) (46,956,631 ) (23,668,252 )

Change in net unrealized appreciation (depreciation) of

Investments in affiliated funds 46,439,529 234,186,486 379,848,092 164,948,294 135,599,824

46,439,529 234,186,486 379,848,092 164,948,294 135,599,824

Net realized and unrealized gain (loss) 9,065,149 95,290,415 227,556,621 117,991,663 111,931,572

Increase (decrease) in net assets from operations $8,031,624 $128,343,743 $300,664,460 $150,539,524 $140,743,716

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 24

STATEMENTS OF CHANGES IN NET ASSETS

Lifestyle Aggressive Portfolio Lifestyle Growth Portfolio Lifestyle Balanced Portfolio

Six months ended
6-30-16 Year ended
12-31-15 Six months ended
6-30-16 Year ended
12-31-15 Six months ended
6-30-16 Year ended
12-31-15

(unaudited) (unaudited) (unaudited)

Increase (decrease) in net assets

From operations

Net investment income (loss) ($1,033,525 ) $39,155,128 $33,053,328 $193,681,467 $73,107,839 $278,980,491

Net realized gain (loss) (37,374,380 ) 324,611,356 (138,896,071 ) 880,247,639 (152,291,471 ) 726,796,005

Change in net unrealized appreciation (depreciation) 46,439,529 (413,267,014 ) 234,186,486 (1,217,565,665 ) 379,848,092 (1,173,184,794 )

Increase (decrease) in net assets resulting from operations 8,031,624 (49,500,530 ) 128,343,743 (143,636,559 ) 300,664,460 (167,408,298 )

Distributions to shareholders

From net investment income

Class A — (2,602,577 ) — (19,257,986 ) (7,644,855 ) (31,502,440 )

Class B — — — (356,546 ) (46,982 ) (770,575 )

Class C — (83 ) — (3,423,772 ) (592,765 ) (8,659,694 )

Class I — (26,738 ) — (89,097 ) (53,328 ) (99,784 )

Class R1 — (17,467 ) — (168,012 ) (44,592 ) (231,932 )

Class R2 — (26,587 ) — (165,311 ) (50,480 ) (221,390 )

Class R3 — (23,692 ) — (167,832 ) (64,822 ) (358,302 )

Class R4 — (47,793 ) — (250,281 ) (126,221 ) (471,274 )

Class R5 — (94,790 ) — (455,179 ) (125,718 ) (713,047 )

Class R6 — (225,769 ) — (754,596 ) (346,502 ) (1,325,706 )

Class 1 — (36,117,681 ) — (164,745,051 ) (61,813,923 ) (231,680,290 )

Class 5 — — — (3,921,789 ) (882,660 ) (3,030,297 )

From net realized gain

Class A — (27,810,632 ) — (104,697,726 ) — (90,659,761 )

Class B — (1,081,251 ) — (4,985,877 ) — (3,842,242 )

Class C — (11,187,566 ) — (47,877,496 ) — (43,321,691 )

Class I — (192,240 ) — (384,960 ) — (306,584 )

Class R1 — (448,428 ) — (1,323,631 ) — (833,154 )

Class R2 — (339,058 ) — (983,367 ) — (676,803 )

Class R3 — (437,640 ) — (1,162,679 ) — (1,175,663 )

Class R4 — (410,803 ) — (1,205,099 ) — (1,161,684 )

Class R5 — (646,304 ) — (1,901,651 ) — (1,593,093 )

Class R6 — (1,449,449 ) — (3,032,197 ) — (3,244,036 )

Class 1 — (243,738,812 ) — (683,744,518 ) — (531,589,608 )

Class 5 — — — (15,758,933 ) — (6,960,453 )

Total distributions — (326,925,360 ) — (1,060,813,586 ) (71,792,848 ) (964,429,503 )

From portfolio share transactions

Portfolio share transactions (161,962,685 ) 11,373,565 (486,481,743 ) 92,382,750 (582,583,123 ) (207,897,935 )

Total increase (decrease) (153,931,061 ) (365,052,325 ) (358,138,000 ) (1,112,067,395 ) (353,711,511 ) (1,339,735,736 )

Net assets

Beginning of period 4,210,397,300 4,575,449,625 13,232,705,602 14,344,772,997 13,796,108,843 15,135,844,579

End of period $4,056,466,239 $4,210,397,300 $12,874,567,602 $13,232,705,602 $13,442,397,332 $13,796,108,843

Undistributed net investment income (loss) ($1,033,525 ) — $33,053,328 — $1,314,991 —

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 25

STATEMENTS OF CHANGES IN NET ASSETS

Continued

Lifestyle Moderate Portfolio Lifestyle Conservative Portfolio

Six months ended
6-30-16 Year ended
12-31-15 Six months ended
6-30-16 Year ended
12-31-15

(unaudited) (unaudited)

Increase (decrease) in net assets

From operations

Net investment income (loss) $32,547,861 $107,176,969 $28,812,144 $91,359,690

Net realized gain (loss) (46,956,631 ) 123,151,438 (23,668,252 ) 51,714,345

Change in net unrealized appreciation (depreciation) 164,948,294 (289,082,481 ) 135,599,824 (193,093,499 )

Increase (decrease) in net assets resulting from operations 150,539,524 (58,754,074 ) 140,743,716 (50,019,464 )

Distributions to shareholders

From net investment income

Class A (4,590,382 ) (15,169,548 ) (4,686,610 ) (14,877,962 )

Class B (91,424 ) (475,814 ) (121,704 ) (562,792 )

Class C (1,231,615 ) (5,990,919 ) (1,498,188 ) (6,454,563 )

Class I (25,246 ) (42,008 ) (49,124 ) (100,254 )

Class R1 (38,864 ) (145,156 ) (52,546 ) (175,629 )

Class R2 (42,359 ) (133,124 ) (45,598 ) (129,320 )

Class R3 (42,230 ) (175,570 ) (44,785 ) (202,429 )

Class R4 (81,439 ) (265,273 ) (67,769 ) (175,736 )

Class R5 (88,277 ) (297,164 ) (74,607 ) (291,608 )

Class R6 (296,895 ) (756,145 ) (135,260 ) (369,479 )

Class 1 (25,016,017 ) (82,366,847 ) (21,584,241 ) (68,046,066 )

Class 5 (475,935 ) (1,403,193 ) — —

From net realized gain

Class A — (21,716,973 ) — (14,475,630 )

Class B — (973,776 ) — (748,695 )

Class C — (12,611,925 ) — (8,785,291 )

Class I — (65,183 ) — (101,105 )

Class R1 — (250,044 ) — (190,641 )

Class R2 — (195,701 ) — (130,784 )

Class R3 — (270,716 ) — (201,002 )

Class R4 — (329,962 ) — (149,755 )

Class R5 — (356,283 ) — (241,665 )

Class R6 — (961,492 ) — (324,289 )

Class 1 — (97,279,196 ) — (56,568,457 )

Class 5 — (1,679,657 ) — —

Total distributions (32,020,683 ) (243,911,669 ) (28,360,432 ) (173,303,152 )

From portfolio share transactions

Portfolio share transactions (164,952,040 ) (150,029,655 ) (88,650,221 ) (185,167,937 )

Total increase (decrease) (46,433,199 ) (452,695,398 ) 23,733,063 (408,490,553 )

Net assets

Beginning of period 4,235,278,390 4,687,973,788 3,247,375,763 3,655,866,316

End of period $4,188,845,191 $4,235,278,390 $3,271,108,826 $3,247,375,763

Undistributed net investment income (loss) $527,178 — $451,712 —

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 26

Financial highlights

Lifestyle Aggressive Portfolio

Per share operating performance for a share outstanding throughout each period Ratios and supplemental data

Income (loss) from
investment operations Less Distributions Ratios to average net assets

Period ended Net asset
value,
beginning
of period($) Net
invest-
ment
income
(loss)
($)^1,2 Net
realized
and
unrealized
gain (loss)
on invest-
ments($) Total
from
invest-
ment
operations($) From net
invest-
ment
income($) From net
realized
gain
($)³ From tax
return
of capital($) Total
distribu-
tions($) Net asset
value, end
of period($) Total
return
(%)^4,5 Expenses
before
reductions
(%)⁶ Expenses
including
reductions
(%)⁶ Net
investment
income
(loss) (%)¹ Net
assets,
end of
period (in
millions) Portfolio
turnover
(%)

CLASS A

06-30-2016⁷ 14.87 (0.02 ) 0.04 0.02 — — — — 14.89 0.13 ⁸ 0.52 ⁹ 0.47 ⁹ (0.33 ) ⁹ 411 5

12-31-2015 16.29 0.11 (0.34 ) (0.23 ) (0.10 ) (1.09 ) — (1.19 ) 14.87 (1.54 ) 0.52 0.47 0.64 411 15

12-31-2014 15.94 0.10 0.60 0.70 (0.09 ) (0.26 ) — (0.35 ) 16.29 4.39 0.53 0.47 0.59 393 18

12-31-2013 12.95 0.09 3.24 3.33 (0.09 ) (0.25 ) — (0.34 ) 15.94 25.70 0.54 0.52 0.58 337 21

12-31-2012 11.30 0.08 1.71 1.79 (0.08 ) (0.06 ) — (0.14 ) 12.95 15.83 0.58 0.57 0.66 239 21

12-31-2011 12.34 0.05 (0.92 ) (0.87 ) (0.05 ) (0.12 ) — (0.17 ) 11.30 (7.09 ) 0.58 0.58 0.39 200 25

CLASS B

06-30-2016⁷ 14.90 (0.08 ) 0.05 (0.03 ) — — — — 14.87 (0.20 ) ⁸ 1.22 ⁹ 1.19 ⁹ (1.05 ) ⁹ 14 5

12-31-2015 16.33 (0.04 ) (0.32 ) (0.36 ) — (1.07 ) — (1.07 ) 14.90 (2.31 ) 1.24 1.21 (0.26 ) 16 15

12-31-2014 15.98 (0.06 ) 0.63 0.57 — (0.22 ) — (0.22 ) 16.33 3.58 1.28 1.26 (0.36 ) 22 18

12-31-2013 12.98 (0.05 ) 3.26 3.21 — (0.21 ) — (0.21 ) 15.98 24.73 1.32 ¹¹ 1.32 (0.33 ) 27 21

12-31-2012 11.33 (0.02 ) 1.71 1.69 — (0.04 ) — (0.04 ) 12.98 14.94 1.37 ¹¹ 1.35 (0.18 ) 24 21

12-31-2011 12.37 (0.05 ) (0.92 ) (0.97 ) — (0.07 ) — (0.07 ) 11.33 (7.83 ) 1.38 ¹¹ 1.35 (0.45 ) 23 25

CLASS C

06-30-2016⁷ 14.92 (0.07 ) 0.03 (0.04 ) — — — — 14.88 (0.27 ) ⁸ 1.22 ⁹ 1.19 ⁹ (1.04 ) ⁹ 162 5

12-31-2015 16.33 (0.02 ) (0.32 ) (0.34 ) — (1.07 ) — (1.07 ) 14.92 (2.19 ) 1.22 1.19 (0.11 ) 167 15

12-31-2014 15.99 (0.03 ) 0.60 0.57 — (0.23 ) — (0.23 ) 16.33 3.56 1.23 1.21 (0.19 ) 169 18

12-31-2013 12.98 (0.02 ) 3.25 3.23 — (0.22 ) — (0.22 ) 15.99 24.90 1.24 1.23 (0.17 ) 159 21

12-31-2012 11.33 (0.01 ) 1.71 1.70 — (0.05 ) — (0.05 ) 12.98 15.00 1.28 1.27 (0.11 ) 121 21

12-31-2011 12.37 (0.04 ) (0.92 ) (0.96 ) — (0.08 ) — (0.08 ) 11.33 (7.76 ) 1.29 1.28 (0.36 ) 112 25

CLASS I

06-30-2016⁷ 14.83 — ¹⁰ 0.03 0.03 — — — — 14.86 0.20 ⁸ 0.21 ⁹ 0.17 ⁹ (0.03 ) ⁹ 3 5

12-31-2015¹² 17.07 0.28 (1.28 ) (1.00 ) (0.15 ) (1.09 ) — (1.24 ) 14.83 (5.98 ) ⁸ 0.20 ⁹ 0.17 ⁹ 2.56 ⁹ 3 15 ¹³

CLASS R1

06-30-2016⁷ 14.90 (0.05 ) 0.04 (0.01 ) — — — — 14.89 (0.07 ) ⁸ 0.83 ⁹ 0.80 ⁹ (0.65 ) ⁹ 7 5

12-31-2015 16.32 0.02 (0.31 ) (0.29 ) (0.04 ) (1.09 ) — (1.13 ) 14.90 (1.89 ) 0.89 0.86 0.12 7 15

12-31-2014 15.98 (0.03 ) 0.64 0.61 (0.01 ) (0.26 ) — (0.27 ) 16.32 3.82 1.02 1.00 (0.18 ) 8 18

12-31-2013 12.98 0.01 3.26 3.27 (0.02 ) (0.25 ) — (0.27 ) 15.98 25.18 0.95 0.94 0.10 10 21

12-31-2012 11.33 0.02 1.73 1.75 (0.04 ) (0.06 ) — (0.10 ) 12.98 15.42 0.97 0.96 0.19 9 21

12-31-2011 12.38 (0.02 ) (0.91 ) (0.93 ) — (0.12 ) — (0.12 ) 11.33 (7.49 ) 0.99 0.98 (0.14 ) 8 25

CLASS R2

06-30-2016⁷ 14.80 (0.03 ) 0.04 0.01 — — — — 14.81 0.07 ⁸ 0.61 ⁹ 0.57 ⁹ (0.43 ) ⁹ 6 5

12-31-2015 16.22 0.07 (0.32 ) (0.25 ) (0.08 ) (1.09 ) — (1.17 ) 14.80 (1.65 ) 0.65 0.60 0.44 5 15

12-31-2014 15.88 0.14 0.53 0.67 (0.07 ) (0.26 ) — (0.33 ) 16.22 4.19 1.01 0.62 0.85 5 18

12-31-2013 12.89 0.13 3.18 3.31 (0.07 ) (0.25 ) — (0.32 ) 15.88 25.66 1.59 0.62 0.89 2 21

12-31-2012¹⁴ 12.49 0.09 0.44 0.53 (0.07 ) (0.06 ) — (0.13 ) 12.89 4.27 ⁸ 16.29 ⁹ 0.62 ⁹ 0.69 ⁸ — ¹⁵ 21 ¹⁶

CLASS R3

06-30-2016⁷ 14.84 (0.04 ) 0.04 — — — — — 14.84 — ⁸ 0.76 ⁹ 0.73 ⁹ (0.58 ) ⁹ 5 5

12-31-2015 16.27 0.06 (0.35 ) (0.29 ) (0.05 ) (1.09 ) — (1.14 ) 14.84 (1.86 ) 0.81 0.78 0.34 6 15

12-31-2014 15.92 (0.01 ) 0.64 0.63 (0.02 ) (0.26 ) — (0.28 ) 16.27 3.94 0.94 0.92 (0.06 ) 7 18

12-31-2013 12.93 — ¹⁰ 3.27 3.27 (0.03 ) (0.25 ) — (0.28 ) 15.92 25.29 0.85 0.85 0.02 9 21

12-31-2012 11.28 0.03 1.72 1.75 (0.04 ) (0.06 ) — (0.10 ) 12.93 15.53 0.88 0.88 0.27 10 21

12-31-2011 12.33 (0.01 ) (0.90 ) (0.91 ) (0.02 ) (0.12 ) — (0.14 ) 11.28 (7.41 ) 0.87 0.87 (0.06 ) 10 25

CLASS R4

06-30-2016⁷ 14.81 (0.01 ) 0.04 0.03 — — — — 14.84 0.20 ⁸ 0.46 ⁹ 0.33 ⁹ (0.17 ) ⁹ 9 5

12-31-2015 16.24 0.10 (0.32 ) (0.22 ) (0.12 ) (1.09 ) — (1.21 ) 14.81 (1.46 ) 0.51 0.38 0.60 6 15

12-31-2014 15.90 0.09 0.59 0.68 (0.08 ) (0.26 ) — (0.34 ) 16.24 4.25 0.68 0.56 0.53 7 18

12-31-2013 12.91 0.07 3.25 3.32 (0.08 ) (0.25 ) — (0.33 ) 15.90 25.76 0.59 0.48 0.45 8 21

12-31-2012 11.27 0.06 1.73 1.79 (0.09 ) (0.06 ) — (0.15 ) 12.91 15.86 0.59 0.53 0.52 8 21

12-31-2011 12.32 0.04 (0.92 ) (0.88 ) (0.05 ) (0.12 ) — (0.17 ) 11.27 (7.13 ) 0.61 0.61 0.33 8 25

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 27

Financial highlights continued

Lifestyle Aggressive Portfolio (continued)

Per share operating performance for a share outstanding throughout each period Ratios and supplemental data

Income (loss) from
investment operations Less Distributions Ratios to average net assets

Period ended Net asset
value,
beginning
of period($) Net
invest-
ment
income
(loss)
($)^1,2 Net
realized
and
unrealized
gain (loss)
on invest-
ments($) Total
from
invest-
ment
operations($) From net
invest-
ment
income($) From net
realized
gain
($)³ From tax
return
of capital($) Total
distribu-
tions($) Net asset
value, end
of period($) Total
return
(%)^4,5 Expenses
before
reductions
(%)⁶ Expenses
including
reductions
(%)⁶ Net
investment
income
(loss) (%)¹ Net
assets,
end of
period (in
millions) Portfolio
turnover
(%)

CLASS R5

06-30-2016⁷ 14.83 — ¹⁰ 0.04 0.04 — — — — 14.87 0.27 ⁸ 0.16 ⁹ 0.13 ⁹ 0.01 ⁹ 7 5

12-31-2015 16.26 0.13 (0.31 ) (0.18 ) (0.16 ) (1.09 ) — (1.25 ) 14.83 (1.25 ) 0.19 0.16 0.81 8 15

12-31-2014 15.92 0.12 0.61 0.73 (0.13 ) (0.26 ) — (0.39 ) 16.26 4.56 0.28 0.26 0.75 12 18

12-31-2013 12.92 0.12 3.25 3.37 (0.12 ) (0.25 ) — (0.37 ) 15.92 26.08 0.25 0.25 0.81 11 21

12-31-2012 11.27 0.08 1.75 1.83 (0.12 ) (0.06 ) — (0.18 ) 12.92 16.22 0.27 0.26 0.62 9 21

12-31-2011 12.31 0.08 (0.91 ) (0.83 ) (0.09 ) (0.12 ) — (0.21 ) 11.27 (6.76 ) 0.26 0.25 0.67 12 25

Class R6

06-30-2016⁷ 14.82 0.01 0.03 0.04 — — — — 14.86 0.27 ⁸ 0.11 ⁹ 0.06 ⁹ 0.08 ⁹ 20 5

12-31-2015 16.23 0.18 (0.33 ) (0.15 ) (0.17 ) (1.09 ) — (1.26 ) 14.82 (1.07 ) 0.13 0.06 1.12 21 15

12-31-2014 15.89 0.20 0.56 0.76 (0.16 ) (0.26 ) — (0.42 ) 16.23 4.76 0.26 0.06 1.24 15 18

12-31-2013 12.89 0.18 3.21 3.39 (0.14 ) (0.25 ) — (0.39 ) 15.89 26.30 0.38 0.11 1.26 5 21

12-31-2012 11.24 0.36 1.49 1.85 (0.14 ) (0.06 ) — (0.20 ) 12.89 16.43 2.57 0.11 2.88 2 21

12-31-2011¹⁷ 11.68 0.11 (0.33 ) (0.22 ) (0.10 ) (0.12 ) — (0.22 ) 11.24 (1.87 ) ⁸ 16.56 ⁹ 0.11 ⁹ 0.95 ⁸ — ¹⁵ 25 ¹⁸

CLASS 1

06-30-2016⁷ 14.81 — ¹⁰ 0.04 0.04 — — — — 14.85 0.27 ⁸ 0.15 ⁹ 0.11 ⁹ 0.03 ⁹ 3,413 5

12-31-2015 16.22 0.16 (0.32 ) (0.16 ) (0.16 ) (1.09 ) — (1.25 ) 14.81 (1.12 ) 0.14 0.11 0.94 3,560 15

12-31-2014 15.88 0.14 0.61 0.75 (0.15 ) (0.26 ) — (0.41 ) 16.22 4.71 0.13 0.11 0.88 3,937 18

12-31-2013 12.89 0.13 3.25 3.38 (0.14 ) (0.25 ) — (0.39 ) 15.88 26.23 0.11 0.11 0.91 4,048 21

12-31-2012 11.24 0.13 1.72 1.85 (0.14 ) (0.06 ) — (0.20 ) 12.89 16.43 0.12 0.11 1.05 3,375 21

12-31-2011 12.28 0.10 (0.92 ) (0.82 ) (0.10 ) (0.12 ) — (0.22 ) 11.24 (6.66 ) 0.11 0.11 0.78 3,164 25

1 Recognition of net investment income by the portfolio is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

2 Based on average daily shares outstanding.

3 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds.

4 Does not reflect the effect of sales charges, if any.

5 Total returns would have been lower had certain expenses not been reduced during the applicable periods.

6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. The range of expense ratios of the underlying funds held by the portfolio was as follows: 0.67%-3.39%, 0.66%-2.99%, 0.67%-2.85%, 0.69%-3.11%, 0.73%-1.48% and 0.48%-1.40%, for the periods ended 6-30-16, 12-31-15, 12-31-14, 12-31-13, 12-31-12 and 12-31-11, respectively.

7 Six months ended 6-30-16. Unaudited.

8 Not annualized.

9 Annualized.

10 Less than $0.005 per share.

11 Includes the impact of expense recapture for the following periods ended: 12-31-13: 0.04% of average net assets for Class B shares. 12-31-12: 0.04% of average net assets for Class B shares. 12-31-11: 0.05% of average net assets for Class B shares.

12 The inception date for Class I shares is 5-1-15.

13 The portfolio turnover is shown for the period from 1-1-15 to 12-31-15.

14 The inception date for Class R2 shares is 3-1-12.

15 Less than $500,000.

16 The portfolio turnover is shown for the period from 1-1-12 to 12-31-12.

17 The inception date for Class R6 shares is 9-1-11.

18 The portfolio turnover is shown for the period from 1-1-11 to 12-31-11.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 28

Lifestyle Growth Portfolio

Per share operating performance for a share outstanding throughout each period Ratios and supplemental data

Income (loss) from
investment operations Less Distributions Ratios to average net assets

Period ended Net asset
value,
beginning
of period($) Net
invest-
ment
income
(loss)
($)^1,2 Net
realized
and
unrealized
gain (loss)
on invest-
ments($) Total
from
invest-
ment
operations($) From net
invest-
ment
income($) From net
realized
gain($) From tax
return
of capital($) Total
distribu-
tions($) Net asset
value, end
of period($) Total
return
(%)^3,4 Expenses
before
reductions
(%)⁵ Expenses
including
reductions
(%)⁵ Net
investment
income
(loss) (%)¹ Net
assets,
end of
period (in
millions) Portfolio
turnover
(%)

CLASS A

06-30-2016⁶ 14.89 0.02 0.12 0.14 — — — — 15.03 0.94 ⁷ 0.52 ⁸ 0.47 ⁸ 0.28 ⁸ 1,624 5

12-31-2015 16.35 0.19 (0.41 ) (0.22 ) (0.19 ) (1.05 ) — (1.24 ) 14.89 (1.45 ) 0.51 0.47 1.17 1,611 15

12-31-2014 16.09 0.19 0.54 0.73 (0.18 ) (0.29 ) — (0.47 ) 16.35 4.48 0.52 0.47 1.14 1,535 16

12-31-2013 13.53 0.17 2.78 2.95 (0.17 ) (0.22 ) — (0.39 ) 16.09 21.81 0.53 0.52 1.13 1,274 20

12-31-2012 11.96 0.17 1.62 1.79 (0.16 ) (0.06 ) — (0.22 ) 13.53 15.01 0.57 0.56 1.28 890 23

12-31-2011 12.89 0.15 (0.83 ) (0.68 ) (0.14 ) (0.11 ) — (0.25 ) 11.96 (5.30 ) 0.58 0.57 1.14 699 24

CLASS B

06-30-2016⁶ 14.94 (0.03 ) 0.11 0.08 — — — — 15.02 0.54 ⁷ 1.22 ⁸ 1.19 ⁸ (0.45 ) ⁸ 65 5

12-31-2015 16.39 0.05 (0.38 ) (0.33 ) (0.07 ) (1.05 ) — (1.12 ) 14.94 (2.09 ) 1.22 1.19 0.30 76 15

12-31-2014 16.14 0.04 0.56 0.60 (0.06 ) (0.29 ) — (0.35 ) 16.39 3.65 1.23 1.21 0.23 100 16

12-31-2013 13.57 0.04 2.80 2.84 (0.05 ) (0.22 ) — (0.27 ) 16.14 20.93 1.24 1.24 0.29 119 20

12-31-2012 12.00 0.06 1.64 1.70 (0.07 ) (0.06 ) — (0.13 ) 13.57 14.18 1.28 1.28 0.50 108 23

12-31-2011 12.92 0.05 (0.81 ) (0.76 ) (0.05 ) (0.11 ) — (0.16 ) 12.00 (5.91 ) 1.31 ⁹ 1.30 0.37 93 24

CLASS C

06-30-2016⁶ 14.92 (0.03 ) 0.11 0.08 — — — — 15.00 0.54 ⁷ 1.22 ⁸ 1.19 ⁸ (0.45 ) ⁸ 708 5

12-31-2015 16.37 0.07 (0.40 ) (0.33 ) (0.07 ) (1.05 ) — (1.12 ) 14.92 (2.09 ) 1.21 1.19 0.42 730 15

12-31-2014 16.12 0.06 0.54 0.60 (0.06 ) (0.29 ) — (0.35 ) 16.37 3.66 1.22 1.20 0.38 739 16

12-31-2013 13.56 0.06 2.77 2.83 (0.05 ) (0.22 ) — (0.27 ) 16.12 20.88 1.23 1.23 0.39 646 20

12-31-2012 11.99 0.07 1.63 1.70 (0.07 ) (0.06 ) — (0.13 ) 13.56 14.21 1.27 1.26 0.52 485 23

12-31-2011 12.91 0.05 (0.81 ) (0.76 ) (0.05 ) (0.11 ) — (0.16 ) 11.99 (5.90 ) 1.28 1.27 0.38 422 24

CLASS I

06-30-2016⁶ 14.82 0.04 0.12 0.16 — — — — 14.98 1.08 ⁷ 0.20 ⁸ 0.17 ⁸ 0.59 ⁸ 8 5

12-31-2015¹⁰ 16.97 0.23 (1.09 ) (0.86 ) (0.24 ) (1.05 ) — (1.29 ) 14.82 (5.17 ) ⁷ 0.20 ⁸ 0.17 ⁸ 2.11 ⁸ 6 15 ¹¹

CLASS R1

06-30-2016⁶ 14.96 — ¹² 0.11 0.11 — — — — 15.07 0.74 ⁷ 0.84 ⁸ 0.81 ⁸ (0.07 ) ⁸ 19 5

12-31-2015 16.41 0.13 (0.40 ) (0.27 ) (0.13 ) (1.05 ) — (1.18 ) 14.96 (1.73 ) 0.86 0.83 0.76 20 15

12-31-2014 16.15 0.10 0.56 0.66 (0.11 ) (0.29 ) — (0.40 ) 16.41 4.04 0.89 0.87 0.62 22 16

12-31-2013 13.58 0.10 2.80 2.90 (0.11 ) (0.22 ) — (0.33 ) 16.15 21.36 0.88 0.88 0.69 23 20

12-31-2012 12.01 0.13 1.63 1.76 (0.13 ) (0.06 ) — (0.19 ) 13.58 14.67 0.87 0.86 0.97 19 23

12-31-2011 12.95 0.09 (0.81 ) (0.72 ) (0.11 ) (0.11 ) — (0.22 ) 12.01 (5.59 ) 0.92 0.92 0.70 16 24

CLASS R2

06-30-2016⁶ 14.81 0.01 0.12 0.13 — — — — 14.94 0.88 ⁷ 0.60 ⁸ 0.57 ⁸ 0.18 ⁸ 17 5

12-31-2015 16.27 0.18 (0.42 ) (0.24 ) (0.17 ) (1.05 ) — (1.22 ) 14.81 (1.55 ) 0.62 0.59 1.09 15 15

12-31-2014 16.02 0.18 0.51 0.69 (0.15 ) (0.29 ) — (0.44 ) 16.27 4.29 0.73 0.62 1.07 12 16

12-31-2013 13.47 0.26 2.66 2.92 (0.15 ) (0.22 ) — (0.37 ) 16.02 21.67 0.90 ⁹ 0.62 1.72 9 20

12-31-2012¹³ 13.05 0.16 0.48 0.64 (0.16 ) (0.06 ) — (0.22 ) 13.47 4.90 ⁷ 16.20 ⁸ 0.62 ⁸ 1.21 ⁷ — ¹⁴ 23 ¹⁵

CLASS R3

06-30-2016⁶ 14.87 — ¹² 0.12 0.12 — — — — 14.99 0.81 ⁷ 0.76 ⁸ 0.73 ⁸ (0.01 ) ⁸ 14 5

12-31-2015 16.33 0.12 (0.38 ) (0.26 ) (0.15 ) (1.05 ) — (1.20 ) 14.87 (1.70 ) 0.77 0.74 0.71 18 15

12-31-2014 16.08 0.11 0.55 0.66 (0.12 ) (0.29 ) — (0.41 ) 16.33 4.09 0.82 0.80 0.69 23 16

12-31-2013 13.52 0.12 2.78 2.90 (0.12 ) (0.22 ) — (0.34 ) 16.08 21.45 0.79 0.79 0.79 24 20

12-31-2012 11.95 0.11 1.65 1.76 (0.13 ) (0.06 ) — (0.19 ) 13.52 14.77 0.81 0.81 0.83 19 23

12-31-2011 12.88 0.10 (0.81 ) (0.71 ) (0.11 ) (0.11 ) — (0.22 ) 11.95 (5.50 ) 0.81 0.81 0.80 22 24

CLASS R4

06-30-2016⁶ 14.87 0.03 0.12 0.15 — — — — 15.02 1.01 ⁷ 0.46 ⁸ 0.32 ⁸ 0.42 ⁸ 20 5

12-31-2015 16.33 0.18 (0.38 ) (0.20 ) (0.21 ) (1.05 ) — (1.26 ) 14.87 (1.30 ) 0.47 0.34 1.10 19 15

12-31-2014 16.08 0.21 0.52 0.73 (0.19 ) (0.29 ) — (0.48 ) 16.33 4.49 0.51 0.39 1.26 29 16

12-31-2013 13.51 0.18 2.79 2.97 (0.18 ) (0.22 ) — (0.40 ) 16.08 21.99 0.50 0.40 1.20 24 20

12-31-2012 11.95 0.16 1.65 1.81 (0.19 ) (0.06 ) — (0.25 ) 13.51 15.11 0.50 0.44 1.21 19 23

12-31-2011 12.88 0.14 (0.81 ) (0.67 ) (0.15 ) (0.11 ) — (0.26 ) 11.95 (5.18 ) 0.52 0.52 1.08 17 24

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 29

Financial highlights continued

Lifestyle Growth Portfolio (continued)

Per share operating performance for a share outstanding throughout each period Ratios and supplemental data

Income (loss) from
investment operations Less Distributions Ratios to average net assets

Period ended Net asset
value,
beginning
of period($) Net
invest-
ment
income
(loss)
($)^1,2 Net
realized
and
unrealized
gain (loss)
on invest-
ments($) Total
from
invest-
ment
operations($) From net
invest-
ment
income($) From net
realized
gain($) From tax
return
of capital($) Total
distribu-
tions($) Net asset
value, end
of period($) Total
return
(%)^3,4 Expenses
before
reductions
(%)⁵ Expenses
including
reductions
(%)⁵ Net
investment
income
(loss) (%)¹ Net
assets,
end of
period (in
millions) Portfolio
turnover
(%)

CLASS R5

06-30-2016⁶ 14.89 0.04 0.12 0.16 — — — — 15.05 1.07 ⁷ 0.16 ⁸ 0.13 ⁸ 0.62 ⁸ 27 5

12-31-2015 16.35 0.22 (0.38 ) (0.16 ) (0.25 ) (1.05 ) — (1.30 ) 14.89 (1.10 ) 0.16 0.14 1.34 28 15

12-31-2014 16.10 0.22 0.55 0.77 (0.23 ) (0.29 ) — (0.52 ) 16.35 4.71 0.19 0.17 1.34 38 16

12-31-2013 13.52 0.21 2.80 3.01 (0.21 ) (0.22 ) — (0.43 ) 16.10 22.29 0.18 0.18 1.40 37 20

12-31-2012 11.95 0.21 1.63 1.84 (0.21 ) (0.06 ) — (0.27 ) 13.52 15.43 0.18 0.18 1.58 32 23

12-31-2011 12.88 0.19 (0.82 ) (0.63 ) (0.19 ) (0.11 ) — (0.30 ) 11.95 (4.92 ) 0.21 0.20 1.49 26 24

Class R6

06-30-2016⁶ 14.82 0.05 0.12 0.17 — — — — 14.99 1.15 ⁷ 0.11 ⁸ 0.06 ⁸ 0.69 ⁸ 51 5

12-31-2015 16.28 0.27 (0.42 ) (0.15 ) (0.26 ) (1.05 ) — (1.31 ) 14.82 (1.04 ) 0.11 0.06 1.63 47 15

12-31-2014 16.03 0.30 0.49 0.79 (0.25 ) (0.29 ) — (0.54 ) 16.28 4.86 0.17 0.06 1.81 37 16

12-31-2013 13.47 0.29 2.71 3.00 (0.22 ) (0.22 ) — (0.44 ) 16.03 22.31 0.19 0.11 1.95 19 20

12-31-2012 11.90 0.58 1.27 1.85 (0.22 ) (0.06 ) — (0.28 ) 13.47 15.60 2.23 0.11 4.39 3 23

12-31-2011¹⁶ 12.34 0.19 (0.32 ) (0.13 ) (0.20 ) (0.11 ) — (0.31 ) 11.90 (1.07 ) ⁷ 15.94 ⁸ 0.10 ⁸ 1.58 ⁷ — ¹⁴ 24 ¹⁷

CLASS 1

06-30-2016⁶ 14.83 0.05 0.11 0.16 — — — — 14.99 1.08 ⁷ 0.14 ⁸ 0.11 ⁸ 0.63 ⁸ 10,073 5

12-31-2015 16.28 0.24 (0.39 ) (0.15 ) (0.25 ) (1.05 ) — (1.30 ) 14.83 (1.02 ) 0.13 0.11 1.46 10,420 15

12-31-2014 16.03 0.23 0.55 0.78 (0.24 ) (0.29 ) — (0.53 ) 16.28 4.80 0.13 0.11 1.41 11,576 16

12-31-2013 13.47 0.22 2.78 3.00 (0.22 ) (0.22 ) — (0.44 ) 16.03 22.31 0.11 0.11 1.45 11,766 20

12-31-2012 11.91 0.21 1.63 1.84 (0.22 ) (0.06 ) — (0.28 ) 13.47 15.50 0.11 0.11 1.64 10,106 23

12-31-2011 12.84 0.19 (0.81 ) (0.62 ) (0.20 ) (0.11 ) — (0.31 ) 11.91 (4.84 ) 0.11 0.11 1.50 9,411 24

CLASS 5

06-30-2016⁶ 14.81 0.05 0.12 0.17 — — — — 14.98 1.15 ⁷ 0.09 ⁸ 0.06 ⁸ 0.69 ⁸ 249 5

12-31-2015 16.26 0.26 (0.40 ) (0.14 ) (0.26 ) (1.05 ) — (1.31 ) 14.81 (0.98 ) 0.08 0.06 1.57 243 15

12-31-2014 16.01 0.25 0.54 0.79 (0.25 ) (0.29 ) — (0.54 ) 16.26 4.86 0.08 0.06 1.53 233 16

12-31-2013 13.46 0.24 2.76 3.00 (0.23 ) (0.22 ) — (0.45 ) 16.01 22.31 0.06 0.06 1.60 201 20

12-31-2012 11.90 0.23 1.62 1.85 (0.23 ) (0.06 ) — (0.29 ) 13.46 15.57 0.06 0.06 1.78 142 23

12-31-2011 12.82 0.21 (0.81 ) (0.60 ) (0.21 ) (0.11 ) — (0.32 ) 11.90 (4.72 ) 0.06 0.06 1.63 111 24

1 Recognition of net investment income by the portfolio is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

2 Based on average daily shares outstanding.

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 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of the underlying funds held by the portfolio. The range of expense ratio of the underlying funds held by the portfolio was as follows: 0.58%-3.39%, 0.57%-2.99%, 0.55%-2.85%, 0.63%-3.11%, 0.63%-1.48% and 0.48%-1.40% for the periods ended 6-30-16, 12-31-15, 12-31-14, 12-31-13, 12-31-12 and 12-31-11, respectively.

6 Six months ended 6-30-16. Unaudited.

7 Not annualized.

8 Annualized.

9 Includes the impact of expense recapture for the following periods ended: 12-31-13: 0.01% of average net assets for Class R2 shares. 12-31-11: 0.02% of average net assets for Class B shares.

10 The inception date for Class I shares is 5-1-15.

11 The portfolio turnover is shown for the period from 1-1-15 to 12-31-15.

12 Less than $0.005 per share.

13 The inception date for Class R2 shares is 3-1-12.

14 Less than $500,000.

15 The portfolio turnover is shown for the period from 1-1-12 to 12-31-12.

16 The inception date for Class R6 shares is 9-1-11.

17 The portfolio turnover is shown for the period from 1-1-11 to 12-31-11.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 30

Lifestyle Balanced Portfolio

Per share operating performance for a share outstanding throughout each period Ratios and supplemental data

Income (loss) from
investment operations Less Distributions Ratios to average net assets

Period ended Net asset
value,
beginning
of period($) Net
invest-
ment
income
(loss)
($)^1,2 Net
realized
and
unrealized
gain (loss)
on invest-
ments($) Total
from
invest-
ment
operations($) From net
invest-
ment
income($) From net
realized
gain($) From tax
return
of capital($) Total
distribu-
tions($) Net asset
value, end
of period($) Total
return
(%)^3,4 Expenses
before
reductions
(%)⁵ Expenses
including
reductions
(%)⁵ Net
investment
income
(loss) (%)¹ Net
assets,
end of
period (in
millions) Portfolio
turnover
(%)

CLASS A

06-30-2016⁶ 14.31 0.06 0.26 0.32 (0.06 ) — — (0.06 ) 14.57 2.24 ⁷ 0.52 ⁸ 0.47 ⁸ 0.87 ⁸ 1,851 5

12-31-2015 15.55 0.27 (0.50 ) (0.23 ) (0.26 ) (0.75 ) — (1.01 ) 14.31 (1.54 ) 0.51 0.47 1.69 1,843 13

12-31-2014 15.36 0.28 0.34 0.62 (0.27 ) (0.16 ) — (0.43 ) 15.55 4.00 0.52 0.47 1.77 1,786 15

12-31-2013 13.61 0.25 1.89 2.14 (0.24 ) (0.15 ) — (0.39 ) 15.36 15.76 0.53 0.51 1.69 1,461 19

12-31-2012 12.26 0.26 1.40 1.66 (0.24 ) (0.07 ) — (0.31 ) 13.61 13.59 0.56 0.56 1.96 1,043 20

12-31-2011 12.96 0.28 (0.62 ) (0.34 ) (0.26 ) (0.10 ) — (0.36 ) 12.26 (2.62 ) 0.57 0.57 2.17 751 23

CLASS B

06-30-2016⁶ 14.31 0.01 0.25 0.26 (0.01 ) — — (0.01 ) 14.56 1.82 ⁷ 1.22 ⁸ 1.19 ⁸ 0.14 ⁸ 69 5

12-31-2015 15.54 0.13 (0.46 ) (0.33 ) (0.15 ) (0.75 ) — (0.90 ) 14.31 (2.20 ) 1.22 1.19 0.85 78 13

12-31-2014 15.35 0.13 0.37 0.50 (0.15 ) (0.16 ) — (0.31 ) 15.54 3.21 1.24 1.22 0.85 98 15

12-31-2013 13.61 0.12 1.90 2.02 (0.13 ) (0.15 ) — (0.28 ) 15.35 14.84 1.28 1.28 0.81 116 19

12-31-2012 12.26 0.16 1.41 1.57 (0.15 ) (0.07 ) — (0.22 ) 13.61 12.80 1.29 1.28 1.18 107 20

12-31-2011 12.96 0.18 (0.61 ) (0.43 ) (0.17 ) (0.10 ) — (0.27 ) 12.26 (3.30 ) 1.29 1.29 1.41 85 23

CLASS C

06-30-2016⁶ 14.32 0.01 0.25 0.26 (0.01 ) — — (0.01 ) 14.57 1.82 ⁷ 1.22 ⁸ 1.19 ⁸ 0.15 ⁸ 851 5

12-31-2015 15.55 0.15 (0.48 ) (0.33 ) (0.15 ) (0.75 ) — (0.90 ) 14.32 (2.19 ) 1.21 1.19 0.95 876 13

12-31-2014 15.37 0.16 0.33 0.49 (0.15 ) (0.16 ) — (0.31 ) 15.55 3.18 1.22 1.20 1.00 892 15

12-31-2013 13.62 0.14 1.89 2.03 (0.13 ) (0.15 ) — (0.28 ) 15.37 14.93 1.23 1.23 0.96 767 19

12-31-2012 12.27 0.16 1.41 1.57 (0.15 ) (0.07 ) — (0.22 ) 13.62 12.81 1.26 1.26 1.19 579 20

12-31-2011 12.97 0.18 (0.61 ) (0.43 ) (0.17 ) (0.10 ) — (0.27 ) 12.27 (3.29 ) 1.27 1.27 1.37 484 23

CLASS I

06-30-2016⁶ 14.24 0.09 0.24 0.33 (0.08 ) — — (0.08 ) 14.49 2.33 ⁷ 0.20 ⁸ 0.17 ⁸ 1.25 ⁸ 11 5

12-31-2015⁹ 16.00 0.34 (1.08 ) (0.74 ) (0.27 ) (0.75 ) — (1.02 ) 14.24 (4.70 ) ⁷ 0.20 ⁸ 0.17 ⁸ 3.26 ⁸ 6 13 ¹⁰

CLASS R1

06-30-2016⁶ 14.25 0.04 0.25 0.29 (0.03 ) — — (0.03 ) 14.51 2.07 ⁷ 0.84 ⁸ 0.82 ⁸ 0.53 ⁸ 18 5

12-31-2015 15.48 0.20 (0.48 ) (0.28 ) (0.20 ) (0.75 ) — (0.95 ) 14.25 (1.86 ) 0.86 0.84 1.27 17 13

12-31-2014 15.30 0.19 0.35 0.54 (0.20 ) (0.16 ) — (0.36 ) 15.48 3.52 0.92 0.91 1.22 20 15

12-31-2013 13.57 0.18 1.88 2.06 (0.18 ) (0.15 ) — (0.33 ) 15.30 15.23 0.90 0.90 1.21 19 19

12-31-2012 12.22 0.20 1.42 1.62 (0.20 ) (0.07 ) — (0.27 ) 13.57 13.29 0.86 0.86 1.52 17 20

12-31-2011 12.92 0.22 (0.60 ) (0.38 ) (0.22 ) (0.10 ) — (0.32 ) 12.22 (2.94 ) 0.94 0.94 1.68 16 23

CLASS R2

06-30-2016⁶ 14.24 0.05 0.26 0.31 (0.05 ) — — (0.05 ) 14.50 2.20 ⁷ 0.60 ⁸ 0.57 ⁸ 0.76 ⁸ 14 5

12-31-2015 15.48 0.25 (0.50 ) (0.25 ) (0.24 ) (0.75 ) — (0.99 ) 14.24 (1.66 ) 0.63 0.59 1.58 14 13

12-31-2014 15.29 0.29 0.30 0.59 (0.24 ) (0.16 ) — (0.40 ) 15.48 3.87 0.79 0.62 1.86 10 15

12-31-2013 13.56 0.34 1.76 2.10 (0.22 ) (0.15 ) — (0.37 ) 15.29 15.59 1.09 ¹¹ 0.62 2.30 5 19

12-31-2012¹² 13.15 0.24 0.48 0.72 (0.24 ) (0.07 ) — (0.31 ) 13.56 5.48 ⁷ 16.33 ⁸ 0.61 ⁸ 1.78 ⁷ — ¹³ 20 ¹⁴

CLASS R3

06-30-2016⁶ 14.28 0.04 0.25 0.29 (0.04 ) — — (0.04 ) 14.53 2.04 ⁷ 0.75 ⁸ 0.72 ⁸ 0.62 ⁸ 22 5

12-31-2015 15.51 0.20 (0.46 ) (0.26 ) (0.22 ) (0.75 ) — (0.97 ) 14.28 (1.75 ) 0.76 0.74 1.30 24 13

12-31-2014 15.33 0.20 0.36 0.56 (0.22 ) (0.16 ) — (0.38 ) 15.51 3.64 0.80 0.78 1.27 30 15

12-31-2013 13.59 0.19 1.90 2.09 (0.20 ) (0.15 ) — (0.35 ) 15.33 15.43 0.77 0.77 1.31 35 19

12-31-2012 12.24 0.21 1.42 1.63 (0.21 ) (0.07 ) — (0.28 ) 13.59 13.38 0.78 0.77 1.62 33 20

12-31-2011 12.94 0.23 (0.59 ) (0.36 ) (0.24 ) (0.10 ) — (0.34 ) 12.24 (2.82 ) 0.79 0.78 1.79 36 23

CLASS R4

06-30-2016⁶ 14.28 0.07 0.26 0.33 (0.07 ) — — (0.07 ) 14.54 2.32 ⁷ 0.45 ⁸ 0.33 ⁸ 1.02 ⁸ 26 5

12-31-2015 15.52 0.25 (0.46 ) (0.21 ) (0.28 ) (0.75 ) — (1.03 ) 14.28 (1.42 ) 0.47 0.34 1.57 24 13

12-31-2014 15.33 0.28 0.35 0.63 (0.28 ) (0.16 ) — (0.44 ) 15.52 4.12 0.49 0.37 1.78 40 15

12-31-2013 13.59 0.26 1.89 2.15 (0.26 ) (0.15 ) — (0.41 ) 15.33 15.90 0.46 0.35 1.76 77 19

12-31-2012 12.24 0.28 1.40 1.68 (0.26 ) (0.07 ) — (0.33 ) 13.59 13.77 0.46 0.39 2.10 70 20

12-31-2011 12.94 0.28 (0.60 ) (0.32 ) (0.28 ) (0.10 ) — (0.38 ) 12.24 (2.52 ) 0.50 0.50 2.13 26 23

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 31

Financial highlights continued

Lifestyle Balanced Portfolio (continued)

Per share operating performance for a share outstanding throughout each period Ratios and supplemental data

Income (loss) from
investment operations Less Distributions Ratios to average net assets

Period ended Net asset
value,
beginning
of period($) Net
invest-
ment
income
(loss)
($)^1,2 Net
realized
and
unrealized
gain (loss)
on invest-
ments($) Total
from
invest-
ment
operations($) From net
invest-
ment
income($) From net
realized
gain($) From tax
return
of capital($) Total
distribu-
tions($) Net asset
value, end
of period($) Total
return
(%)^3,4 Expenses
before
reductions
(%)⁵ Expenses
including
reductions
(%)⁵ Net
investment
income
(loss) (%)¹ Net
assets,
end of
period (in
millions) Portfolio
turnover
(%)

CLASS R5

06-30-2016⁶ 14.30 0.08 0.26 0.34 (0.08 ) — — (0.08 ) 14.56 2.41 ⁷ 0.16 ⁸ 0.13 ⁸ 1.17 ⁸ 22 5

12-31-2015 15.53 0.30 (0.47 ) (0.17 ) (0.31 ) (0.75 ) — (1.06 ) 14.30 (1.16 ) 0.16 0.14 1.88 29 13

12-31-2014 15.35 0.31 0.34 0.65 (0.31 ) (0.16 ) — (0.47 ) 15.53 4.25 0.19 0.17 1.96 41 15

12-31-2013 13.60 0.28 1.91 2.19 (0.29 ) (0.15 ) — (0.44 ) 15.35 16.20 0.17 0.17 1.93 41 19

12-31-2012 12.26 0.28 1.42 1.70 (0.29 ) (0.07 ) — (0.36 ) 13.60 13.96 0.17 0.17 2.13 39 20

12-31-2011 12.96 0.31 (0.60 ) (0.29 ) (0.31 ) (0.10 ) — (0.41 ) 12.26 (2.23 ) 0.18 0.18 2.42 42 23

Class R6

06-30-2016⁶ 14.24 0.09 0.25 0.34 (0.09 ) — — (0.09 ) 14.49 2.38 ⁷ 0.10 ⁸ 0.06 ⁸ 1.25 ⁸ 49 5

12-31-2015 15.47 0.35 (0.51 ) (0.16 ) (0.32 ) (0.75 ) — (1.07 ) 14.24 (1.08 ) 0.11 0.06 2.27 66 13

12-31-2014 15.29 0.36 0.31 0.67 (0.33 ) (0.16 ) — (0.49 ) 15.47 4.38 0.16 0.06 2.29 39 15

12-31-2013 13.55 0.36 1.83 2.19 (0.30 ) (0.15 ) — (0.45 ) 15.29 16.26 0.17 0.11 2.49 21 19

12-31-2012 12.21 0.46 1.25 1.71 (0.30 ) (0.07 ) — (0.37 ) 13.55 14.09 1.15 0.11 3.50 5 20

12-31-2011¹⁵ 12.56 0.21 (0.24 ) (0.03 ) (0.22 ) (0.10 ) — (0.32 ) 12.21 (0.22 ) ⁷ 16.36 ⁸ 0.10 ⁸ 1.69 ⁷ — ¹³ 23 ¹⁶

CLASS 1

06-30-2016⁶ 14.23 0.09 0.25 0.34 (0.09 ) — — (0.09 ) 14.48 2.36 ⁷ 0.14 ⁸ 0.11 ⁸ 1.23 ⁸ 10,363 5

12-31-2015 15.46 0.31 (0.47 ) (0.16 ) (0.32 ) (0.75 ) — (1.07 ) 14.23 (1.13 ) 0.13 0.11 1.99 10,678 13

12-31-2014 15.28 0.32 0.34 0.66 (0.32 ) (0.16 ) — (0.48 ) 15.46 4.33 0.13 0.11 2.02 12,041 15

12-31-2013 13.55 0.29 1.89 2.18 (0.30 ) (0.15 ) — (0.45 ) 15.28 16.18 0.11 0.11 2.00 12,284 19

12-31-2012 12.21 0.30 1.41 1.71 (0.30 ) (0.07 ) — (0.37 ) 13.55 14.09 0.11 0.11 2.31 10,974 20

12-31-2011 12.90 0.32 (0.59 ) (0.27 ) (0.32 ) (0.10 ) — (0.42 ) 12.21 (2.10 ) 0.11 0.11 2.49 9,822 23

CLASS 5

06-30-2016⁶ 14.24 0.09 0.25 0.34 (0.09 ) — — (0.09 ) 14.49 2.38 ⁷ 0.09 ⁸ 0.06 ⁸ 1.28 ⁸ 146 5

12-31-2015 15.47 0.33 (0.49 ) (0.16 ) (0.32 ) (0.75 ) — (1.07 ) 14.24 (1.07 ) 0.08 0.06 2.09 141 13

12-31-2014 15.29 0.34 0.33 0.67 (0.33 ) (0.16 ) — (0.49 ) 15.47 4.38 0.08 0.06 2.14 139 15

12-31-2013 13.55 0.31 1.89 2.20 (0.31 ) (0.15 ) — (0.46 ) 15.29 16.31 0.06 0.06 2.15 118 19

12-31-2012 12.21 0.33 1.39 1.72 (0.31 ) (0.07 ) — (0.38 ) 13.55 14.14 0.06 0.06 2.49 85 20

12-31-2011 12.91 0.34 (0.61 ) (0.27 ) (0.33 ) (0.10 ) — (0.43 ) 12.21 (2.13 ) 0.06 0.06 2.65 60 23

1 Recognition of net investment income by the portfolio is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

2 Based on average daily shares outstanding.

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 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. The range of expense ratios of the underlying funds held by the portfolio was as follows: 0.58%-3.39%, 0.57%-2.99%, 0.55%- 2.85%, 0.62%-3.11%, 0.63%-1.48% and 0.48%-1.40%, for the periods ended 6-30-16, 12-31-15, 12-31-14, 12-31-13, 12-31-12 and 12-31-11, respectively.

6 Six months ended 6-30-16. Unaudited.

7 Not annualized.

8 Annualized.

9 The inception date for Class I shares is 5-1-15.

10 The portfolio turnover is shown for the period from 1-1-15 to 12-31-15.

11 Includes the impact of expense recapture for the period ended: 12-31-13: 0.005% of average net assets for Class R2 shares.

12 The inception date for Class R2 shares is 3-1-12.

13 Less than $500,000.

14 The portfolio turnover is shown for the period from 1-1-12 to 12-31-12.

15 The inception date for Class R6 shares is 9-1-11.

16 The portfolio turnover is shown for the period from 1-1-11 to 12-31-11.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 32

Lifestyle Moderate Portfolio

Per share operating performance for a share outstanding throughout each period Ratios and supplemental data

Income (loss) from
investment operations Less Distributions Ratios to average net assets

Period ended Net asset
value,
beginning
of period($) Net
invest-
ment
income
(loss)
($)^1,2 Net
realized
and
unrealized
gain (loss)
on invest-
ments($) Total
from
invest-
ment
operations($) From net
invest-
ment
income($) From net
realized
gain($) From tax
return
of capital($) Total
distribu-
tions($) Net asset
value, end
of period($) Total
return
(%)^3,4 Expenses
before
reductions
(%)⁵ Expenses
including
reductions
(%)⁵ Net
investment
income
(loss) (%)¹ Net
assets,
end of
period (in
millions) Portfolio
turnover
(%)

CLASS A

06-30-2016⁶ 13.13 0.09 0.39 0.48 (0.09 ) — — (0.09 ) 13.52 3.66 ⁷ 0.51 ⁸ 0.47 ⁸ 1.39 ⁸ 698 5

12-31-2015 14.11 0.31 (0.54 ) (0.23 ) (0.31 ) (0.44 ) — (0.75 ) 13.13 (1.67 ) 0.51 0.47 2.21 680 11

12-31-2014 14.29 0.35 0.17 0.52 (0.33 ) (0.37 ) — (0.70 ) 14.11 3.63 0.52 0.47 2.36 662 14

12-31-2013 13.35 0.31 1.02 1.33 (0.30 ) (0.09 ) — (0.39 ) 14.29 10.05 0.53 0.52 2.22 551 17

12-31-2012 12.28 0.33 1.13 1.46 (0.31 ) (0.08 ) — (0.39 ) 13.35 11.94 0.57 0.57 2.50 399 18

12-31-2011 12.63 0.38 (0.29 ) 0.09 (0.35 ) (0.09 ) — (0.44 ) 12.28 0.73 0.58 0.58 2.96 299 19

CLASS B

06-30-2016⁶ 13.13 0.04 0.38 0.42 (0.04 ) — — (0.04 ) 13.51 3.22 ⁷ 1.21 ⁸ 1.19 ⁸ 0.66 ⁸ 28 5

12-31-2015 14.10 0.19 (0.51 ) (0.32 ) (0.21 ) (0.44 ) — (0.65 ) 13.13 (2.33 ) 1.22 1.20 1.36 30 11

12-31-2014 14.28 0.21 0.20 0.41 (0.22 ) (0.37 ) — (0.59 ) 14.10 2.84 1.25 1.24 1.43 39 14

12-31-2013 13.34 0.19 1.04 1.23 (0.20 ) (0.09 ) — (0.29 ) 14.28 9.23 1.26 1.25 1.36 45 17

12-31-2012 12.27 0.23 1.14 1.37 (0.22 ) (0.08 ) — (0.30 ) 13.34 11.14 1.30 1.30 1.74 45 18

12-31-2011 12.63 0.28 (0.29 ) (0.01 ) (0.26 ) (0.09 ) — (0.35 ) 12.27 (0.08 ) 1.32 1.32 2.22 35 19

CLASS C

06-30-2016⁶ 13.14 0.04 0.38 0.42 (0.04 ) — — (0.04 ) 13.52 3.22 ⁷ 1.21 ⁸ 1.19 ⁸ 0.66 ⁸ 385 5

12-31-2015 14.11 0.21 (0.53 ) (0.32 ) (0.21 ) (0.44 ) — (0.65 ) 13.14 (2.32 ) 1.21 1.19 1.46 392 11

12-31-2014 14.30 0.23 0.17 0.40 (0.22 ) (0.37 ) — (0.59 ) 14.11 2.79 1.22 1.21 1.59 411 14

12-31-2013 13.35 0.20 1.04 1.24 (0.20 ) (0.09 ) — (0.29 ) 14.30 9.34 1.23 1.23 1.47 366 17

12-31-2012 12.28 0.23 1.14 1.37 (0.22 ) (0.08 ) — (0.30 ) 13.35 11.17 1.27 1.27 1.77 288 18

12-31-2011 12.64 0.28 (0.29 ) (0.01 ) (0.26 ) (0.09 ) — (0.35 ) 12.28 (0.05 ) 1.28 1.28 2.21 227 19

CLASS I

06-30-2016⁶ 13.09 0.12 0.37 0.49 (0.11 ) — — (0.11 ) 13.47 3.75 ⁷ 0.19 ⁸ 0.18 ⁸ 1.78 ⁸ 3 5

12-31-2015⁹ 14.42 0.33 (0.92 ) (0.59 ) (0.30 ) (0.44 ) — (0.74 ) 13.09 (4.13 ) ⁷ 0.19 ⁸ 0.17 ⁸ 3.55 ⁸ 2 11 ¹⁰

CLASS R1

06-30-2016⁶ 13.12 0.07 0.38 0.45 (0.07 ) — — (0.07 ) 13.50 3.42 ⁷ 0.81 ⁸ 0.79 ⁸ 1.05 ⁸ 7 5

12-31-2015 14.09 0.25 (0.53 ) (0.28 ) (0.25 ) (0.44 ) — (0.69 ) 13.12 (1.99 ) 0.87 0.85 1.77 8 11

12-31-2014 14.28 0.24 0.20 0.44 (0.26 ) (0.37 ) — (0.63 ) 14.09 3.07 1.01 1.00 1.65 8 14

12-31-2013 13.35 0.23 1.04 1.27 (0.25 ) (0.09 ) — (0.34 ) 14.28 9.55 0.94 0.94 1.68 10 17

12-31-2012 12.27 0.27 1.15 1.42 (0.26 ) (0.08 ) — (0.34 ) 13.35 11.58 0.96 0.96 2.10 10 18

12-31-2011 12.63 0.30 (0.27 ) 0.03 (0.30 ) (0.09 ) — (0.39 ) 12.27 0.21 1.03 1.03 2.32 7 19

CLASS R2

06-30-2016⁶ 13.09 0.08 0.38 0.46 (0.08 ) — — (0.08 ) 13.47 3.54 ⁷ 0.58 ⁸ 0.57 ⁸ 1.30 ⁸ 7 5

12-31-2015 14.06 0.30 (0.54 ) (0.24 ) (0.29 ) (0.44 ) — (0.73 ) 13.09 (1.72 ) 0.64 0.60 2.12 6 11

12-31-2014 14.25 0.36 0.13 0.49 (0.31 ) (0.37 ) — (0.68 ) 14.06 3.41 1.02 0.62 2.50 4 14

12-31-2013 13.32 0.39 0.92 1.31 (0.29 ) (0.09 ) — (0.38 ) 14.25 9.92 1.68 ¹¹ 0.62 2.82 2 17

12-31-2012¹² 12.96 0.30 0.45 0.75 (0.31 ) (0.08 ) — (0.39 ) 13.32 5.80 ⁷ 16.03 ⁸ 0.62 ⁸ 2.29 ⁷ — ¹³ 18 ¹⁴

CLASS R3

06-30-2016⁶ 13.11 0.07 0.38 0.45 (0.07 ) — — (0.07 ) 13.49 3.46 ⁷ 0.74 ⁸ 0.72 ⁸ 1.12 ⁸ 8 5

12-31-2015 14.08 0.26 (0.52 ) (0.26 ) (0.27 ) (0.44 ) — (0.71 ) 13.11 (1.89 ) 0.78 0.76 1.82 8 11

12-31-2014 14.27 0.27 0.19 0.46 (0.28 ) (0.37 ) — (0.65 ) 14.08 3.16 0.89 0.87 1.82 10 14

12-31-2013 13.33 0.25 1.04 1.29 (0.26 ) (0.09 ) — (0.35 ) 14.27 9.70 0.84 0.84 1.82 11 17

12-31-2012 12.26 0.27 1.16 1.43 (0.28 ) (0.08 ) — (0.36 ) 13.33 11.64 0.88 0.88 2.08 10 18

12-31-2011 12.62 0.32 (0.27 ) 0.05 (0.32 ) (0.09 ) — (0.41 ) 12.26 0.38 0.88 0.88 2.54 10 19

CLASS R4

06-30-2016⁶ 13.09 0.10 0.38 0.48 (0.10 ) — — (0.10 ) 13.47 3.66 ⁷ 0.45 ⁸ 0.33 ⁸ 1.54 ⁸ 11 5

12-31-2015 14.06 0.30 (0.51 ) (0.21 ) (0.32 ) (0.44 ) — (0.76 ) 13.09 (1.50 ) 0.48 0.36 2.15 10 11

12-31-2014 14.25 0.34 0.18 0.52 (0.34 ) (0.37 ) — (0.71 ) 14.06 3.60 0.57 0.45 2.36 14 14

12-31-2013 13.31 0.31 1.03 1.34 (0.31 ) (0.09 ) — (0.40 ) 14.25 10.17 0.55 0.44 2.19 13 17

12-31-2012 12.24 0.33 1.14 1.47 (0.32 ) (0.08 ) — (0.40 ) 13.31 12.02 0.57 0.51 2.51 11 18

12-31-2011 12.60 0.36 (0.28 ) 0.08 (0.35 ) (0.09 ) — (0.44 ) 12.24 0.65 0.63 0.63 2.81 8 19

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 33

Financial highlights continued

Lifestyle Moderate Portfolio (continued)

Per share operating performance for a share outstanding throughout each period Ratios and supplemental data

Income (loss) from
investment operations Less Distributions Ratios to average net assets

Period ended Net asset
value,
beginning
of period($) Net
invest-
ment
income
(loss)
($)^1,2 Net
realized
and
unrealized
gain (loss)
on invest-
ments($) Total
from
invest-
ment
operations($) From net
invest-
ment
income($) From net
realized
gain($) From tax
return
of capital($) Total
distribu-
tions($) Net asset
value, end
of period($) Total
return
(%)^3,4 Expenses
before
reductions
(%)⁵ Expenses
including
reductions
(%)⁵ Net
investment
income
(loss) (%)¹ Net
assets,
end of
period (in
millions) Portfolio
turnover
(%)

CLASS R5

06-30-2016⁶ 13.10 0.11 0.38 0.49 (0.11 ) — — (0.11 ) 13.48 3.76 ⁷ 0.15 ⁸ 0.13 ⁸ 1.72 ⁸ 10 5

12-31-2015 14.07 0.35 (0.53 ) (0.18 ) (0.35 ) (0.44 ) — (0.79 ) 13.10 (1.29 ) 0.18 0.16 2.47 11 11

12-31-2014 14.26 0.36 0.18 0.54 (0.36 ) (0.37 ) — (0.73 ) 14.07 3.78 0.27 0.26 2.45 12 14

12-31-2013 13.32 0.35 1.02 1.37 (0.34 ) (0.09 ) — (0.43 ) 14.26 10.39 0.25 0.25 2.53 13 17

12-31-2012 12.26 0.31 1.19 1.50 (0.36 ) (0.08 ) — (0.44 ) 13.32 12.26 0.27 0.27 2.41 9 18

12-31-2011 12.62 0.41 (0.28 ) 0.13 (0.40 ) (0.09 ) — (0.49 ) 12.26 1.00 0.24 0.24 3.21 15 19

Class R6

06-30-2016⁶ 13.08 0.12 0.38 0.50 (0.12 ) — — (0.12 ) 13.46 3.81 ⁷ 0.10 ⁸ 0.06 ⁸ 1.81 ⁸ 37 5

12-31-2015 14.05 0.38 (0.54 ) (0.16 ) (0.37 ) (0.44 ) — (0.81 ) 13.08 (1.20 ) 0.11 0.06 2.74 30 11

12-31-2014 14.24 0.42 0.15 0.57 (0.39 ) (0.37 ) — (0.76 ) 14.05 3.99 0.21 0.06 2.90 20 14

12-31-2013 13.31 0.45 0.93 1.38 (0.36 ) (0.09 ) — (0.45 ) 14.24 10.49 0.32 0.11 3.22 11 17

12-31-2012 12.24 0.62 0.90 1.52 (0.37 ) (0.08 ) — (0.45 ) 13.31 12.50 4.79 0.11 4.66 2 18

12-31-2011¹⁵ 12.51 0.24 (0.17 ) 0.07 (0.25 ) (0.09 ) — (0.34 ) 12.24 0.60 ⁷ 16.24 ⁸ 0.11 ⁸ 1.94 ⁷ — ¹³ 19 ¹⁶

CLASS 1

06-30-2016⁶ 13.10 0.11 0.38 0.49 (0.11 ) — — (0.11 ) 13.48 3.78 ⁷ 0.13 ⁸ 0.11 ⁸ 1.74 ⁸ 2,938 5

12-31-2015 14.07 0.35 (0.52 ) (0.17 ) (0.36 ) (0.44 ) — (0.80 ) 13.10 (1.25 ) 0.13 0.11 2.50 3,005 11

12-31-2014 14.26 0.38 0.18 0.56 (0.38 ) (0.37 ) — (0.75 ) 14.07 3.93 0.12 0.11 2.62 3,455 14

12-31-2013 13.32 0.35 1.04 1.39 (0.36 ) (0.09 ) — (0.45 ) 14.26 10.55 0.11 0.11 2.51 3,562 17

12-31-2012 12.25 0.37 1.15 1.52 (0.37 ) (0.08 ) — (0.45 ) 13.32 12.49 0.11 0.11 2.87 3,414 18

12-31-2011 12.61 0.41 (0.27 ) 0.14 (0.41 ) (0.09 ) — (0.50 ) 12.25 1.12 0.11 0.11 3.26 3,057 19

CLASS 5

06-30-2016⁶ 13.08 0.12 0.38 0.50 (0.12 ) — — (0.12 ) 13.46 3.81 ⁷ 0.08 ⁸ 0.06 ⁸ 1.81 ⁸ 56 5

12-31-2015 14.06 0.37 (0.54 ) (0.17 ) (0.37 ) (0.44 ) — (0.81 ) 13.08 (1.27 ) 0.08 0.06 2.61 52 11

12-31-2014 14.24 0.40 0.18 0.58 (0.39 ) (0.37 ) — (0.76 ) 14.06 4.06 0.07 0.06 2.72 52 14

12-31-2013 13.31 0.36 1.03 1.39 (0.37 ) (0.09 ) — (0.46 ) 14.24 10.54 0.06 0.06 2.62 48 17

12-31-2012 12.24 0.39 1.14 1.53 (0.38 ) (0.08 ) — (0.46 ) 13.31 12.56 0.06 0.06 3.03 39 18

12-31-2011 12.60 0.44 (0.29 ) 0.15 (0.42 ) (0.09 ) — (0.51 ) 12.24 1.17 0.06 0.06 3.43 27 19

1 Recognition of net investment income by the portfolio is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

2 Based on average daily shares outstanding.

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 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of the underlying funds held by the portfolio. The range of expense ratio of the underlying funds held by the portfolio was as follows: 0.58%-3.39%, 0.57%-2.99%, 0.55%-2.85%, 0.62%-3.11%, 0.63%-1.48% and 0.48%-1.40% for the periods ended 6-30-16, 12-31-15, 12-31-14, 12-31-13, 12-31-12 and 12-31-11, respectively.

6 Six months ended 6-30-16. Unaudited.

7 Not annualized.

8 Annualized.

9 The inception date for Class I shares is 5-1-15.

10 The portfolio turnover is shown for the period from 1-1-15 to 12-31-15.

11 Includes the impact of expense recapture for the following periods ended: 12-31-13: 0.01% of average net assets for Class R2 shares.

12 The inception date for Class R2 shares is 3-1-12.

13 Less than $500,000.

14 The portfolio turnover is shown for the period from 1-1-12 to 12-31-12.

15 The inception date for Class R6 shares is 9-1-11.

16 The portfolio turnover is shown for the period from 1-1-11 to 12-31-11.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 34

Lifestyle Conservative Portfolio

Per share operating performance for a share outstanding throughout each period Ratios and supplemental data

Income (loss) from
investment operations Less Distributions Ratios to average net assets

Period ended Net asset
value,
beginning
of period($) Net
invest-
ment
income
(loss)
($)^1,2 Net
realized
and
unrealized
gain (loss)
on invest-
ments($) Total
from
invest-
ment
operations($) From net
invest-
ment
income($) From net
realized
gain($) From tax
return
of capital($) Total
distribu-
tions($) Net asset
value, end
of period($) Total
return
(%)^3,4 Expenses
before
reductions
(%)⁵ Expenses
including
reductions
(%)⁵ Net
investment
income
(loss) (%)¹ Net
assets,
end of
period (in
millions) Portfolio
turnover
(%)

CLASS A

06-30-2016⁶ 12.42 0.10 0.44 0.54 (0.10 ) — — (0.10 ) 12.86 4.36 ⁷ 0.51 ⁸ 0.47 ⁸ 1.64 ⁸ 607 7

12-31-2015 13.30 0.33 (0.56 ) (0.23 ) (0.33 ) (0.32 ) — (0.65 ) 12.42 (1.74 ) 0.51 0.47 2.47 576 10

12-31-2014 13.68 0.37 0.10 0.47 (0.37 ) (0.48 ) — (0.85 ) 13.30 3.44 0.53 0.47 2.67 600 22

12-31-2013 13.44 0.33 0.29 0.62 (0.33 ) (0.05 ) — (0.38 ) 13.68 4.66 0.54 0.52 2.44 530 17

12-31-2012 12.63 0.38 0.88 1.26 (0.37 ) (0.08 ) — (0.45 ) 13.44 10.03 0.56 0.56 2.89 472 14

12-31-2011 12.77 0.46 (0.11 ) 0.35 (0.43 ) (0.06 ) — (0.49 ) 12.63 2.75 0.58 0.58 3.61 340 15

CLASS B

06-30-2016⁶ 12.43 0.06 0.44 0.50 (0.06 ) — — (0.06 ) 12.87 3.99 ⁷ 1.21 ⁸ 1.19 ⁸ 0.89 ⁸ 27 7

12-31-2015 13.30 0.22 (0.54 ) (0.32 ) (0.23 ) (0.32 ) — (0.55 ) 12.43 (2.39 ) 1.22 1.20 1.64 30 10

12-31-2014 13.68 0.24 0.12 0.36 (0.26 ) (0.48 ) — (0.74 ) 13.30 2.65 1.25 1.24 1.75 39 22

12-31-2013 13.44 0.22 0.30 0.52 (0.23 ) (0.05 ) — (0.28 ) 13.68 3.87 1.26 1.26 1.65 47 17

12-31-2012 12.63 0.28 0.88 1.16 (0.27 ) (0.08 ) — (0.35 ) 13.44 9.24 1.30 1.30 2.13 48 14

12-31-2011 12.77 0.35 (0.10 ) 0.25 (0.33 ) (0.06 ) — (0.39 ) 12.63 2.01 1.31 1.31 2.75 37 15

CLASS C

06-30-2016⁶ 12.42 0.06 0.44 0.50 (0.06 ) — — (0.06 ) 12.86 3.99 ⁷ 1.21 ⁸ 1.19 ⁸ 0.91 ⁸ 342 7

12-31-2015 13.30 0.23 (0.56 ) (0.33 ) (0.23 ) (0.32 ) — (0.55 ) 12.42 (2.47 ) 1.21 1.19 1.73 349 10

12-31-2014 13.68 0.27 0.09 0.36 (0.26 ) (0.48 ) — (0.74 ) 13.30 2.66 1.23 1.21 1.91 378 22

12-31-2013 13.43 0.23 0.30 0.53 (0.23 ) (0.05 ) — (0.28 ) 13.68 3.98 1.24 1.24 1.71 355 17

12-31-2012 12.62 0.29 0.88 1.17 (0.28 ) (0.08 ) — (0.36 ) 13.43 9.28 1.26 1.26 2.17 335 14

12-31-2011 12.77 0.36 (0.11 ) 0.25 (0.34 ) (0.06 ) — (0.40 ) 12.62 1.95 1.28 1.28 2.81 254 15

CLASS I

06-30-2016⁶ 12.40 0.12 0.44 0.56 (0.12 ) — — (0.12 ) 12.84 4.52 ⁷ 0.19 ⁸ 0.17 ⁸ 2.00 ⁸ 6 7

12-31-2015⁹ 13.49 0.34 (0.80 ) (0.46 ) (0.31 ) (0.32 ) — (0.63 ) 12.40 (3.40 ) ⁷ 0.19 ⁸ 0.17 ⁸ 3.84 ⁸ 4 10 ¹⁰

CLASS R1

06-30-2016⁶ 12.41 0.08 0.44 0.52 (0.08 ) — — (0.08 ) 12.85 4.18 ⁷ 0.82 ⁸ 0.81 ⁸ 1.30 ⁸ 9 7

12-31-2015 13.29 0.26 (0.54 ) (0.28 ) (0.28 ) (0.32 ) — (0.60 ) 12.41 (2.11 ) 0.87 0.86 1.95 8 10

12-31-2014 13.68 0.30 0.09 0.39 (0.30 ) (0.48 ) — (0.78 ) 13.29 2.86 1.00 0.99 2.14 10 22

12-31-2013 13.43 0.27 0.30 0.57 (0.27 ) (0.05 ) — (0.32 ) 13.68 4.31 0.91 0.91 1.97 9 17

12-31-2012 12.62 0.31 0.88 1.19 (0.30 ) (0.08 ) — (0.38 ) 13.43 9.52 1.07 1.07 2.36 9 14

12-31-2011 12.78 0.33 (0.05 ) 0.28 (0.38 ) (0.06 ) — (0.44 ) 12.62 2.19 1.06 1.06 2.57 7 15

CLASS R2

06-30-2016⁶ 12.40 0.10 0.43 0.53 (0.09 ) — — (0.09 ) 12.84 4.31 ⁷ 0.58 ⁸ 0.57 ⁸ 1.54 ⁸ 6 7

12-31-2015 13.28 0.31 (0.55 ) (0.24 ) (0.32 ) (0.32 ) — (0.64 ) 12.40 (1.86 ) 0.65 0.61 2.31 5 10

12-31-2014 13.67 0.46 (0.02 ) 0.44 (0.35 ) (0.48 ) — (0.83 ) 13.28 3.21 1.13 0.62 3.30 5 22

12-31-2013 13.42 0.39 0.23 0.62 (0.32 ) (0.05 ) — (0.37 ) 13.67 4.67 2.55 0.62 2.86 2 17

12-31-2012¹¹ 13.12 0.35 0.39 0.74 (0.36 ) (0.08 ) — (0.44 ) 13.42 5.73 ⁷ 10.39 ⁸ 0.62 ⁸ 2.64 ⁷ — ¹² 14 ¹³

CLASS R3

06-30-2016⁶ 12.39 0.09 0.43 0.52 (0.08 ) — — (0.08 ) 12.83 4.24 ⁷ 0.68 ⁸ 0.66 ⁸ 1.41 ⁸ 7 7

12-31-2015 13.26 0.27 (0.52 ) (0.25 ) (0.30 ) (0.32 ) — (0.62 ) 12.39 (1.94 ) 0.76 0.75 2.04 8 10

12-31-2014 13.65 0.31 0.10 0.41 (0.32 ) (0.48 ) — (0.80 ) 13.26 3.01 0.88 0.86 2.21 11 22

12-31-2013 13.41 0.30 0.28 0.58 (0.29 ) (0.05 ) — (0.34 ) 13.65 4.39 0.75 0.75 2.18 11 17

12-31-2012 12.60 0.31 0.91 1.22 (0.33 ) (0.08 ) — (0.41 ) 13.41 9.71 0.97 0.97 2.38 11 14

12-31-2011 12.76 0.40 (0.11 ) 0.29 (0.39 ) (0.06 ) — (0.45 ) 12.60 2.30 0.88 0.88 3.08 10 15

CLASS R4

06-30-2016⁶ 12.40 0.11 0.44 0.55 (0.11 ) — — (0.11 ) 12.84 4.44 ⁷ 0.45 ⁸ 0.33 ⁸ 1.81 ⁸ 8 7

12-31-2015 13.27 0.31 (0.51 ) (0.20 ) (0.35 ) (0.32 ) — (0.67 ) 12.40 (1.56 ) 0.50 0.38 2.37 6 10

12-31-2014 13.66 0.36 0.10 0.46 (0.37 ) (0.48 ) — (0.85 ) 13.27 3.36 0.63 0.51 2.62 9 22

12-31-2013 13.42 0.34 0.29 0.63 (0.34 ) (0.05 ) — (0.39 ) 13.66 4.72 0.58 0.48 2.51 9 17

12-31-2012 12.61 0.36 0.90 1.26 (0.37 ) (0.08 ) — (0.45 ) 13.42 10.06 0.60 0.54 2.72 8 14

12-31-2011 12.76 0.45 (0.11 ) 0.34 (0.43 ) (0.06 ) — (0.49 ) 12.61 2.65 0.63 0.63 3.50 9 15

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 35

Financial highlights continued

Lifestyle Conservative Portfolio (continued)

Per share operating performance for a share outstanding throughout each period Ratios and supplemental data

Income (loss) from
investment operations Less Distributions Ratios to average net assets

Period ended Net asset
value,
beginning
of period($) Net
invest-
ment
income
(loss)
($)^1,2 Net
realized
and
unrealized
gain (loss)
on invest-
ments($) Total
from
invest-
ment
operations($) From net
invest-
ment
income($) From net
realized
gain($) From tax
return
of capital($) Total
distribu-
tions($) Net asset
value, end
of period($) Total
return
(%)^3,4 Expenses
before
reductions
(%)⁵ Expenses
including
reductions
(%)⁵ Net
investment
income
(loss) (%)¹ Net
assets,
end of
period (in
millions) Portfolio
turnover
(%)

CLASS R5

06-30-2016⁶ 12.40 0.12 0.44 0.56 (0.12 ) — — (0.12 ) 12.84 4.54 ⁷ 0.15 ⁸ 0.13 ⁸ 1.96 ⁸ 8 7

12-31-2015 13.28 0.36 (0.54 ) (0.18 ) (0.38 ) (0.32 ) — (0.70 ) 12.40 (1.41 ) 0.18 0.16 2.70 8 10

12-31-2014 13.67 0.38 0.12 0.50 (0.41 ) (0.48 ) — (0.89 ) 13.28 3.64 0.26 0.24 2.75 13 22

12-31-2013 13.43 0.37 0.30 0.67 (0.38 ) (0.05 ) — (0.43 ) 13.67 5.03 0.17 0.17 2.70 15 17

12-31-2012 12.62 0.41 0.89 1.30 (0.41 ) (0.08 ) — (0.49 ) 13.43 10.37 0.31 0.31 3.11 15 14

12-31-2011 12.77 0.50 (0.12 ) 0.38 (0.47 ) (0.06 ) — (0.53 ) 12.62 3.00 0.24 0.24 3.91 16 15

Class R6

06-30-2016⁶ 12.39 0.13 0.44 0.57 (0.13 ) — — (0.13 ) 12.83 4.58 ⁷ 0.10 ⁸ 0.06 ⁸ 2.04 ⁸ 14 7

12-31-2015 13.27 0.39 (0.56 ) (0.17 ) (0.39 ) (0.32 ) — (0.71 ) 12.39 (1.34 ) 0.13 0.06 2.95 13 10

12-31-2014 13.65 0.47 0.06 0.53 (0.43 ) (0.48 ) — (0.91 ) 13.27 3.87 0.42 0.06 3.41 8 22

12-31-2013 13.42 0.43 0.24 0.67 (0.39 ) (0.05 ) — (0.44 ) 13.65 5.05 0.43 0.11 3.19 5 17

12-31-2012 12.61 0.51 0.81 1.32 (0.43 ) (0.08 ) — (0.51 ) 13.42 10.56 2.50 0.11 3.83 2 14

12-31-2011¹⁴ 12.81 0.27 (0.12 ) 0.15 (0.29 ) (0.06 ) — (0.35 ) 12.61 1.16 ⁷ 16.16 ⁸ 0.11 ⁸ 2.13 ⁷ — ¹² 15 ¹⁵

CLASS 1

06-30-2016⁶ 12.39 0.12 0.44 0.56 (0.12 ) — — (0.12 ) 12.83 4.56 ⁷ 0.13 ⁸ 0.11 ⁸ 1.99 ⁸ 2,237 7

12-31-2015 13.27 0.37 (0.55 ) (0.18 ) (0.38 ) (0.32 ) — (0.70 ) 12.39 (1.39 ) 0.13 0.11 2.79 2,241 10

12-31-2014 13.66 0.41 0.10 0.51 (0.42 ) (0.48 ) — (0.90 ) 13.27 3.74 0.13 0.11 2.94 2,584 22

12-31-2013 13.42 0.38 0.30 0.68 (0.39 ) (0.05 ) — (0.44 ) 13.66 5.12 0.11 0.11 2.77 2,758 17

12-31-2012 12.61 0.43 0.89 1.32 (0.43 ) (0.08 ) — (0.51 ) 13.42 10.56 0.11 0.11 3.28 3,090 14

12-31-2011 12.76 0.50 (0.10 ) 0.40 (0.49 ) (0.06 ) — (0.55 ) 12.61 3.16 0.11 0.11 3.85 2,626 15

1 Recognition of net investment income by the portfolio is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

2 Based on average daily shares outstanding.

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 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of the underlying funds held by the portfolio. The range of expense ratio of the underlying funds held by the portfolio was as follows: 0.58%-3.39%, 0.62%-2.99%, 0.62%-2.85%, 0.62%-3.11%, 0.63%-1.48% and 0.48%-1.40% for the periods ended 6-30-16, 12-31-15, 12-31-14, 12-31-13, 12-31-12 and 12-31-11, respectively.

6 Six months ended 6-30-16. Unaudited.

7 Not annualized.

8 Annualized.

9 The inception date for Class I shares is 5-1-15.

10 The portfolio turnover is shown for the period from 1-1-15 to 12-31-15.

11 The inception date for Class R2 shares is 3-1-12.

12 Less than $500,000.

13 The portfolio turnover is shown for the period from 1-1-12 to 12-31-12.

14 The inception date for Class R6 shares is 9-1-11.

15 The portfolio turnover is shown for the period from 1-1-11 to 12-31-11.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 36

Notes to financial statements (unaudited)

Note 1 — Organization

John Hancock Funds II (the Trust) is 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). It is a series company with multiple investment series (the funds), five of which (collectively, Lifestyle Portfolios, or the portfolios, and individually the portfolio) are presented in this report. The Lifestyle Portfolios operate as "funds of funds" that invest in other series of the Trust and other John Hancock group of funds.

The portfolios may offer multiple classes of shares. The shares currently offered by the Portfolios are detailed in the Statements of assets and liabilities. Class A and Class C shares are open to all investors. Class B shares are closed to new investors, subject to exceptions described in the portfolio's prospectus. Class I shares are offered to institutions and certain investors. Class R1, Class R2, Class R3, Class R4 and Class R5 shares are available only to certain retirement plans. Class R6 shares are only available to certain retirement plans, institutions and other investors. Class 1 shares are offered only to certain affiliates of Manulife Financial Corporation (MFC). Class 5 shares are available only to the John Hancock Freedom 529 plan. 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.

The accounting policies of the John Hancock underlying funds in which the portfolios invest are outlined in the underlying funds' shareholder reports, which include the underlying funds' financial statements, available without charge by calling 800-344-1029 or visiting jhinvestments.com, on the Securities and Exchange Commission (SEC) website at sec.gov or at the SEC's public reference room in Washington, D.C. The underlying funds are not covered by this report.

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 portfolios qualify as investment companies 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 portfolios:

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. The time at which shares and transactions are priced and until which orders are accepted may vary to the extent permitted by the SEC and applicable regulations.

In order to value the securities, the portfolios use the following valuation techniques: Investments by the portfolio in underlying affiliated funds and/or other open-end management investment companies are valued at their respective net asset values each business day.

The portfolios use 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, including registered investment companies. 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.

As of June 30, 2016, all investments are categorized as Level 1 under the hierarchy described above.

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. Income and capital gain distributions from underlying funds are recorded on ex-date. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.

Line of credit. The portfolios 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 portfolios' custodian agreement, the custodian may loan money to the portfolios to make properly authorized payments. The portfolios are 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 portfolio 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 portfolios and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. (Citibank) as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for certain funds, the portfolios 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 portfolio based on a combination of straight-line and asset based allocations and is reflected in Other expenses on the Statement of operations. Prior to June 30, 2016, the portfolios had a similar agreement that enabled them to participate in a $750 million unsecured committed line of credit. For the six months ended June 30, 2016, the portfolios had no borrowings under either line of credit.

Commitment fees for the six months ended June 30, 2016 were as follows:

Portfolio Commitment fee

Lifestyle Aggressive Portfolio $2,828

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 37

Portfolio Commitment fee

Lifestyle Growth Portfolio 7,548

Lifestyle Balanced Portfolio 7,846

Lifestyle Moderate Portfolio 2,831

Lifestyle Conservative Portfolio 2,317

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.

As of June 30, 2016, certain of the portfolios were due to receive reimbursements from State Street Bank for overbilling of custody out-of-pocket fees from prior years. As a result of the accrued reimbursements, some portfolios reflect negative custodian fees in the current reporting period. Custodian fees incurred by the following portfolios for the six months ended June 30, 2016 prior to these reimbursements were as follows:

Portfolio Amount

Lifestyle Aggressive Portfolio $5,826

Lifestyle Growth Portfolio 5,826

Lifestyle Balanced Portfolio 5,826

Lifestyle Moderate Portfolio 5,826

Lifestyle Conservative Portfolio 5,826

Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the portfolio 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 portfolios intend to continue to qualify as regulated investment companies 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.

As of December 31, 2015, the portfolios had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The portfolios' federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

The costs of investments owned on June 30, 2016, including short-term investments, for federal income tax purposes, were as follows:

Portfolio Aggregate cost Unrealized
appreciation Unrealized
(depreciation) Net unrealized
appreciation/
(depreciation)

Lifestyle Aggressive Portfolio $3,576,332,797 $521,632,731 ($41,137,813 ) $480,494,918

Lifestyle Growth Portfolio 11,672,905,403 1,369,397,294 (168,150,940 ) 1,201,246,354

Lifestyle Balanced Portfolio 12,496,338,732 1,156,565,339 (207,743,326 ) 948,822,013

Lifestyle Moderate Portfolio 3,959,031,855 316,727,675 (86,067,093 ) 230,660,582

Lifestyle Conservative Portfolio 3,218,518,393 131,733,017 (78,623,994 ) 53,109,023

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 Lifestyle Aggressive and Lifestyle Growth portfolios generally declare and pay income dividends and capital gain distributions, if any, at least annually. The Lifestyle Balanced, Lifestyle Moderate and Lifestyle Conservative portfolios generally declare and pay income dividends quarterly and capital gain distributions, if any, at least annually.

Distributions paid by the portfolios 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, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Short-term gains from underlying funds are treated as ordinary income for tax purposes.

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.

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 portfolios. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 38

Note 4 — Fees and transactions with affiliates

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

Management fee. The portfolios have an investment management agreement with the Advisor under which the portfolios pay a daily management fee to the Advisor, equivalent on an annual basis, as detailed below. Aggregate net assets include the net assets of the portfolios and the net assets of similar funds of John Hancock Variable Insurance Trust (JHVIT) and net assets of similar funds of the Trust. The Advisor has subadvisory agreements with John Hancock Asset Management a division of Manulife Asset management (North America) Limited and John Hancock Asset Management a division of Manulife Asset Management (US) LLC, which are indirect owned subsidiaries of MFC and affiliates of the Advisor. The portfolios are not responsible for payment of the subadvisory fees.

Under the advisory agreement, the portfolios pay a daily management fee to the Advisor as outlined below:

First $7.5 billion of aggregate net assets Excess over $7.5 billion of aggregate net assets

Affiliated fund assets 0.050% 0.040%

Other assets 0.500% 0.490%

The advisory fee has two components: (a) a fee on assets invested in affiliated funds (Affiliated fund assets) and (b) a fee on assets not invested in affiliated funds (Other assets). Affiliated funds are any funds of the Trust, JHVIT and John Hancock Funds III, excluding John Hancock 500 Index Trust B, John Hancock Total Bond Market Trust B and John Hancock International Equity Index Trust B.

Expense reimbursements. The Advisor has contractually agreed to waive and/or reimburse all class-specific expenses for Class A, Class I, Class R2 and Class R6 shares of the portfolios to the extent they exceed 0.41%, 0.11%, 0.56% and 0.00%, respectively, of average net assets (on an annualized basis) attributable to the classes (the class expense waiver). The class expense waiver expires on April 30, 2017, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor has contractually agreed to reduce its management fee and/ or make payment to each portfolio in an amount equal to the amount by which "Other expenses" of a portfolio exceed 0.05% of the average annual net assets (on an annualized basis) of the portfolio. "Other expenses" means all of the expenses of a portfolio, excluding certain expenses such as advisory fees, taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolio's business, distribution and service (Rule 12b-1) fees and class specific, underlying fund expenses (acquired fund fees), and short dividend expense. The current expense limitation agreement expires on April 30, 2017, unless renewed by mutual agreement of a portfolio and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor has contractually agreed to waive its advisory fees and/or reduce expenses by 0.002% of each fund's average net assets. This expense limitation agreement expires on April 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.

The Advisor voluntarily agreed to waive its advisory fee or reimburse each portfolio so that the aggregate advisory fee retained by the Advisor with respect to both the portfolio and the underlying investments (after payment of any subadvisory fees) does not exceed 0.50% of the portfolio's first $7.5 billion of average annual net assets and 0.49% of the portfolio's average annual net assets in excess of $7.5 billion. This voluntary waiver may be terminated at any time by the Advisor upon notice to the Trust.

For the six months ended June 30, 2016, the expense reductions related to these agreements amounted to the following and are reflected as a reduction of total expenses in the Statements of operations:

Expense reimbursement by class

Portfolio Class A Class B Class C Class I Class R1 Class R2 Class R3 Class R4 Class R5 Class R6 Class 1 Class 5 Total

Lifestyle Aggressive
Portfolio $101,154 $2,398 $26,831 $543 $1,132 $1,068 $905 $1,386 $1,241 $4,778 $569,887 — $711,323

Lifestyle Growth
Portfolio 372,241 10,253 105,265 968 2,781 2,486 2,199 2,979 4,045 11,165 1,498,757 $35,904 2,049,043

Lifestyle Balanced
Portfolio 408,471 9,887 117,219 1,189 2,467 1,874 3,051 3,511 3,242 12,986 1,426,246 19,324 2,009,467

Lifestyle Moderate
Portfolio 112,887 2,316 30,824 246 617 539 627 857 846 5,449 234,618 4,226 394,052

Lifestyle Conservative
Portfolio 97,482 2,268 27,533 459 669 490 553 604 635 2,196 178,052 — 310,941

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 six months ended June 30, 2016 were equivalent to a net annual effective rate of the portfolios' average daily net assets as follows:

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 39

Portfolio Annual effective rate

Lifestyle Aggressive Portfolio 0.04%

Lifestyle Growth Portfolio 0.04%

Lifestyle Balanced Portfolio 0.04%

Lifestyle Moderate Portfolio 0.04%

Lifestyle Conservative Portfolio 0.04%

Accounting and legal services. Pursuant to a service agreement, the portfolios reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, accounting and recordkeeping services to the portfolios, 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 six months ended June 30, 2016 amounted to an annual rate of 0.01% of each portfolio's average daily net assets.

Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans with respect to Class A, Class B, Class C, Class R1, Class R2, Class R3, 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 portfolios. In addition, under a service plan for Class R1, Class R2, Class R3, Class R4 and Class R5 shares, the portfolios pay for certain other services. The portfolios 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 portfolios' shares:

Class Rule 12b-1 fee Service fee Class Rule 12b-1 fee Service fee

Class A 0.30% — Class R3 0.50% 0.15%

Class B 1.00% — Class R4 0.25% 0.10%

Class C 1.00% — Class R5 — 0.05%

Class R1 0.50% 0.25% Class 1 0.05% —

Class R2 0.25% 0.25%

The portfolios' Distributor has contractually agreed to waive 0.10% of Rule 12b-1 fees for Class R4 shares. The current waiver agreement expires on April 30, 2017, unless renewed by mutual agreement of the portfolios and the Distributor based upon a determination that this is appropriate under the circumstances at that time. This contractual waiver amounted to the following for the six months ended June 30, 2016:

Portfolio Class R4

Lifestyle Aggressive Portfolio $4,097

Lifestyle Growth Portfolio 9,875

Lifestyle Balanced Portfolio 12,612

Lifestyle Moderate Portfolio 5,316

Lifestyle Conservative Portfolio 3,735

Sales charges. Class A shares are assessed up-front sales charges of up to 5.00% of the net asset value of such shares. The following summarizes the net up-front sales charges received by the Distributor during the six months ended June 30, 2016:

Lifestyle
Aggressive
Portfolio Lifestyle
Growth
Portfolio Lifestyle
Balanced
Portfolio Lifestyle
Moderate
Portfolio Lifestyle
Conservative
Portfolio

Net sales charges $395,248 $2,240,597 $2,116,532 $707,102 $910,923

Retained for printing prospectus, advertising and sales literature 62,883 362,051 353,344 116,163 152,569

Sales commission to unrelated broker-dealers 318,895 1,850,103 1,724,839 583,441 750,873

Sales commission to affiliated sales personnel 13,470 28,443 38,349 7,498 7,481

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 six months ended June 30, 2016, CDSCs received by the Distributor were as follows:

Portfolio Class A Class B Class C

Lifestyle Aggressive Portfolio $4,402 $3,470 $11,311

Lifestyle Growth Portfolio 1,819 28,125 32,773

Lifestyle Balanced Portfolio 1,746 34,253 41,126

Lifestyle Moderate Portfolio 12 17,355 22,272

Lifestyle Conservative Portfolio 83 18,649 27,789

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 40

Transfer agent fees. The portfolios have 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 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 six months ended June 30, 2016 were:

Class Distribution and
service fees Transfer
agent fees

Lifestyle Aggressive Portfolio Class A $593,655 $252,011

Class B 71,093 9,070

Class C 794,761 101,239

Class I — 1,659

Class R1 24,040 558

Class R2 15,639 529

Class R3 17,443 446

Class R4 14,269 685

Class R5 1,826 610

Class R6 — 1,577

Class 1 844,306 —

Total $2,377,032 $368,384

Lifestyle Growth Portfolio Class A $2,349,827 $997,659

Class B 340,246 43,414

Class C 3,491,507 444,919

Class I — 3,274

Class R1 67,501 1,536

Class R2 40,825 1,374

Class R3 48,046 1,216

Class R4 34,458 1,648

Class R5 6,705 2,233

Class R6 — 3,970

Class 1 2,486,014 —

Total $8,865,129 $1,501,243

Lifestyle Balanced Portfolio Class A $2,708,306 $1,150,238

Class B 355,269 45,328

Class C 4,211,792 536,850

Class I — 4,357

Class R1 65,582 1,477

Class R2 33,570 1,124

Class R3 70,701 1,823

Class R4 43,967 2,105

Class R5 5,953 1,940

Class R6 — 4,866

Class 1 2,562,554 —

Total $10,057,694 $1,750,108

Lifestyle Moderate Portfolio Class A $1,009,581 $428,850

Class B 143,817 18,346

Class C 1,913,795 243,997

Class I — 1,444

Class R1 27,318 638

Class R2 16,276 559

Class R3 24,995 650

Class R4 18,541 887

Class R5 2,587 875

Class R6 — 2,768

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 41

Class Distribution and
service fees Transfer
agent fees

Class 1 728,507 —

Total $3,885,417 $699,014

Lifestyle Conservative Portfolio Class A $870,618 $369,821

Class B 140,420 17,920

Class C 1,704,554 217,374

Class I — 2,684

Class R1 30,167 690

Class R2 14,774 507

Class R3 19,946 571

Class R4 13,009 626

Class R5 1,963 654

Class R6 — 1,115

Class 1 551,125 —

Total $3,346,576 $611,962

Trustee expenses. The Trust 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 portfolio based on its net assets relative to other funds within the John Hancock group of funds complex.

Note 5 — Portfolio share transactions

Transactions in portfolios' shares for the six months ended June 30, 2016 and the year ended December 31, 2015 were as follows:

Lifestyle Aggressive Portfolio

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class A shares

Sold 3,123,275 $44,881,426 7,165,623 $118,568,838

Distributions reinvested — — 1,997,993 30,169,706

Repurchased (3,214,554 ) (46,133,153 ) (5,612,780 ) (92,887,649 )

Net increase (decrease) (91,279 ) ($1,251,727 ) 3,550,836 $55,850,895

Class B shares

Sold 2,607 $37,587 43,847 $731,187

Distributions reinvested — — 70,092 1,061,191

Repurchased (162,996 ) (2,337,034 ) (377,717 ) (6,275,604 )

Net decrease (160,389 ) ($2,299,447 ) (263,778 ) ($4,483,226 )

Class C shares

Sold 774,562 $11,052,950 1,834,597 $30,409,904

Distributions reinvested — — 722,251 10,942,084

Repurchased (1,062,055 ) (15,288,656 ) (1,759,491 ) (29,262,138 )

Net increase (decrease) (287,493 ) ($4,235,706 ) 797,357 $12,089,850

Class I shares¹

Sold 65,297 $935,284 186,880 $3,027,356

Distributions reinvested — — 14,059 211,730

Repurchased (44,207 ) (634,525 ) (9,968 ) (161,307 )

Net increase 21,090 $300,759 190,971 $3,077,779

Class R1 shares

Sold 109,953 $1,592,481 136,357 $2,257,120

Distributions reinvested — — 27,513 416,271

Repurchased (97,527 ) (1,422,390 ) (200,749 ) (3,308,486 )

Net increase (decrease) 12,426 $170,091 (36,879 ) ($635,095 )

Class R2 shares

Sold 162,838 $2,362,577 183,493 $3,016,568

Distributions reinvested — — 15,695 235,900

Repurchased (60,155 ) (872,226 ) (155,600 ) (2,607,209 )

Net increase 102,683 $1,490,351 43,588 $645,259

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 42

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class R3 shares

Sold 49,907 $710,644 155,057 $2,523,190

Distributions reinvested — — 30,613 461,332

Repurchased (125,476 ) (1,770,143 ) (172,568 ) (2,851,435 )

Net increase (decrease) (75,569 ) ($1,059,499 ) 13,102 $133,087

Class R4 shares

Sold 285,277 $3,961,733 78,841 $1,301,729

Distributions reinvested — — 30,453 458,312

Repurchased (93,202 ) (1,332,499 ) (151,021 ) (2,475,390 )

Net increase (decrease) 192,075 $2,629,234 (41,727 ) ($715,349 )

Class R5 shares

Sold 43,835 $628,771 105,146 $1,747,110

Distributions reinvested — — 49,209 741,094

Repurchased (105,432 ) (1,488,887 ) (338,107 ) (5,425,892 )

Net decrease (61,597 ) ($860,116 ) (183,752 ) ($2,937,688 )

Class R6 shares

Sold 196,470 $2,830,902 674,832 $11,110,331

Distributions reinvested — — 111,310 1,675,219

Repurchased (325,206 ) (4,525,530 ) (284,820 ) (4,654,948 )

Net increase (decrease) (128,736 ) ($1,694,628 ) 501,322 $8,130,602

Class 1 shares

Sold 2,010,450 $28,317,293 3,376,507 $55,530,408

Distributions reinvested — — 18,607,480 279,856,494

Repurchased (12,584,164 ) (183,469,290 ) (24,230,233 ) (395,169,451 )

Net decrease (10,573,714 ) ($155,151,997 ) (2,246,246 ) ($59,782,549 )

Total net increase (decrease) (11,050,503 ) ($161,962,685 ) 2,324,794 $11,373,565

¹ The inception date for Class I shares is 5-1-15.

Lifestyle Growth Portfolio

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class A shares

Sold 10,237,886 $148,405,874 23,574,480 $390,507,505

Distributions reinvested — — 8,094,613 122,148,043

Repurchased (10,341,382 ) (150,405,641 ) (17,377,508 ) (287,933,755 )

Net increase (decrease) (103,496 ) ($1,999,767 ) 14,291,585 $224,721,793

Class B shares

Sold 9,693 $142,090 78,258 $1,288,539

Distributions reinvested — — 340,666 5,154,277

Repurchased (800,958 ) (11,656,968 ) (1,450,743 ) (24,064,017 )

Net decrease (791,265 ) ($11,514,878 ) (1,031,819 ) ($17,621,201 )

Class C shares

Sold 2,838,647 $40,989,333 7,442,991 $123,186,875

Distributions reinvested — — 3,303,564 49,949,856

Repurchased (4,600,579 ) (66,866,515 ) (6,943,377 ) (114,585,759 )

Net increase (decrease) (1,761,932 ) ($25,877,182 ) 3,803,178 $58,550,972

Class I shares¹

Sold 253,384 $3,696,486 551,365 $9,256,285

Distributions reinvested — — 31,076 466,458

Repurchased (125,968 ) (1,803,923 ) (182,845 ) (3,011,315 )

Net increase 127,416 $1,892,563 399,596 $6,711,428

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 43

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class R1 shares

Sold 137,735 $2,004,890 296,998 $4,902,209

Distributions reinvested — — 84,925 1,286,619

Repurchased (231,280 ) (3,336,726 ) (358,739 ) (5,885,453 )

Net increase (decrease) (93,545 ) ($1,331,836 ) 23,184 $303,375

Class R2 shares

Sold 275,908 $4,018,546 358,753 $5,942,031

Distributions reinvested — — 61,103 916,541

Repurchased (137,930 ) (2,009,107 ) (159,218 ) (2,650,046 )

Net increase 137,978 $2,009,439 260,638 $4,208,526

Class R3 shares

Sold 127,682 $1,843,550 356,261 $5,899,444

Distributions reinvested — — 87,519 1,318,918

Repurchased (422,430 ) (6,122,897 ) (670,913 ) (10,993,765 )

Net decrease (294,748 ) ($4,279,347 ) (227,133 ) ($3,775,403 )

Class R4 shares

Sold 239,033 $3,371,880 253,878 $4,232,296

Distributions reinvested — — 96,575 1,455,380

Repurchased (147,810 ) (2,152,117 ) (865,914 ) (14,539,204 )

Net increase (decrease) 91,223 $1,219,763 (515,461 ) ($8,851,528 )

Class R5 shares

Sold 123,018 $1,780,876 326,351 $5,447,293

Distributions reinvested — — 155,669 2,349,039

Repurchased (199,854 ) (2,921,492 ) (939,156 ) (15,432,635 )

Net decrease (76,836 ) ($1,140,616 ) (457,136 ) ($7,636,303 )

Class R6 shares

Sold 581,295 $8,477,017 1,336,837 $22,135,008

Distributions reinvested — — 252,117 3,786,793

Repurchased (325,512 ) (4,765,316 ) (729,617 ) (12,054,145 )

Net increase 255,783 $3,711,701 859,337 $13,867,656

Class 1 shares

Sold 3,035,464 $43,216,013 4,665,899 $76,939,472

Distributions reinvested — — 56,490,650 848,489,568

Repurchased (33,795,195 ) (495,294,262 ) (69,384,745 ) (1,135,464,098 )

Net decrease (30,759,731 ) ($452,078,249 ) (8,228,196 ) ($210,035,058 )

Class 5 shares

Sold 579,702 $8,344,328 1,231,134 $20,304,540

Distributions reinvested — — 1,312,048 19,680,723

Repurchased (369,534 ) (5,437,662 ) (486,041 ) (8,046,770 )

Net increase 210,168 $2,906,666 2,057,141 $31,938,493

Total net increase (decrease) (33,058,985 ) ($486,481,743 ) 11,234,914 $92,382,750

¹ The inception date for Class I shares is 5-1-15.

Lifestyle Balanced Portfolio

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class A shares

Sold 12,016,697 $169,191,775 28,607,654 $448,342,427

Distributions reinvested 523,738 7,569,411 8,310,977 120,859,901

Repurchased (14,255,937 ) (201,329,699 ) (23,005,353 ) (359,955,039 )

Net increase (decrease) (1,715,502 ) ($24,568,513 ) 13,913,278 $209,247,289

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 44

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class B shares

Sold 33,037 $473,775 136,080 $2,142,791

Distributions reinvested 2,883 41,752 309,507 4,476,039

Repurchased (737,840 ) (10,382,747 ) (1,333,146 ) (20,888,532 )

Net decrease (701,920 ) ($9,867,220 ) (887,559 ) ($14,269,702 )

Class C shares

Sold 2,840,037 $39,938,825 9,250,130 $145,245,941

Distributions reinvested 40,149 581,613 3,517,119 50,897,252

Repurchased (5,713,609 ) (80,671,377 ) (8,928,499 ) (139,438,246 )

Net increase (decrease) (2,833,423 ) ($40,150,939 ) 3,838,750 $56,704,947

Class I shares¹

Sold 502,601 $7,122,459 503,451 $7,901,997

Distributions reinvested 3,705 53,328 27,685 399,611

Repurchased (178,277 ) (2,521,675 ) (92,840 ) (1,427,061 )

Net increase 328,029 $4,654,112 438,296 $6,874,547

Class R1 shares

Sold 236,890 $3,312,503 358,547 $5,564,517

Distributions reinvested 2,189 31,506 54,160 782,331

Repurchased (170,480 ) (2,435,056 ) (490,440 ) (7,683,175 )

Net increase (decrease) 68,599 $908,953 (77,733 ) ($1,336,327 )

Class R2 shares

Sold 115,244 $1,634,097 597,051 $9,378,316

Distributions reinvested 2,345 33,709 41,675 602,631

Repurchased (144,046 ) (2,050,898 ) (351,126 ) (5,537,565 )

Net increase (decrease) (26,457 ) ($383,092 ) 287,600 $4,443,382

Class R3 shares

Sold 231,921 $3,264,965 355,250 $5,555,465

Distributions reinvested 4,450 64,138 104,600 1,515,995

Repurchased (365,240 ) (5,094,092 ) (694,899 ) (10,808,697 )

Net decrease (128,869 ) ($1,764,989 ) (235,049 ) ($3,737,237 )

Class R4 shares

Sold 312,560 $4,307,507 532,514 $8,342,060

Distributions reinvested 8,752 126,221 112,222 1,632,959

Repurchased (160,856 ) (2,242,712 ) (1,580,189 ) (25,289,689 )

Net increase (decrease) 160,456 $2,191,016 (935,453 ) ($15,314,670 )

Class R5 shares

Sold 210,902 $2,944,794 535,229 $8,395,616

Distributions reinvested 8,672 125,223 157,623 2,298,811

Repurchased (751,196 ) (10,396,912 ) (1,313,900 ) (20,212,298 )

Net decrease (531,622 ) ($7,326,895 ) (621,048 ) ($9,517,871 )

Class R6 shares

Sold 665,001 $9,356,312 2,818,358 $44,304,975

Distributions reinvested 24,139 346,501 315,303 4,569,741

Repurchased (1,898,691 ) (27,090,246 ) (1,012,497 ) (15,815,226 )

Net increase (decrease) (1,209,551 ) ($17,387,433 ) 2,121,164 $33,059,490

Class 1 shares

Sold 2,677,387 $37,485,571 4,048,414 $62,780,104

Distributions reinvested 4,303,192 61,813,923 52,618,420 763,269,899

Repurchased (41,776,393 ) (590,429,657 ) (84,983,002 ) (1,313,422,552 )

Net decrease (34,795,814 ) ($491,130,163 ) (28,316,168 ) ($487,372,549 )

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 45

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class 5 shares

Sold 357,441 $5,037,160 693,122 $10,819,616

Distributions reinvested 61,413 882,660 688,844 9,990,751

Repurchased (265,218 ) (3,677,780 ) (482,436 ) (7,489,601 )

Net increase 153,636 $2,242,040 899,530 $13,320,766

Total net decrease (41,232,438 ) ($582,583,123 ) (9,574,392 ) ($207,897,935 )

¹ The inception date for Class I shares is 5-1-15.

Lifestyle Moderate Portfolio

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class A shares

Sold 5,571,571 $73,170,459 11,935,804 $168,429,630

Distributions reinvested 330,837 4,432,528 2,661,965 35,584,440

Repurchased (6,027,655 ) (78,968,491 ) (9,801,255 ) (138,332,487 )

Net increase (decrease) (125,247 ) ($1,365,504 ) 4,796,514 $65,681,583

Class B shares

Sold 23,146 $298,738 38,166 $528,242

Distributions reinvested 6,240 83,580 99,278 1,320,456

Repurchased (242,307 ) (3,179,604 ) (582,206 ) (8,208,893 )

Net decrease (212,921 ) ($2,797,286 ) (444,762 ) ($6,360,195 )

Class C shares

Sold 1,711,472 $22,377,060 4,857,982 $68,656,693

Distributions reinvested 87,867 1,177,790 1,336,418 17,780,650

Repurchased (3,205,043 ) (42,147,281 ) (5,457,029 ) (76,890,949 )

Net increase (decrease) (1,405,704 ) ($18,592,431 ) 737,371 $9,546,394

Class I shares¹

Sold 143,627 $1,863,907 177,317 $2,525,410

Distributions reinvested 1,874 25,037 7,569 100,409

Repurchased (48,213 ) (625,457 ) (30,456 ) (425,346 )

Net increase 97,288 $1,263,487 154,430 $2,200,473

Class R1 shares

Sold 85,501 $1,123,236 219,661 $3,101,423

Distributions reinvested 2,249 30,065 23,473 312,409

Repurchased (130,832 ) (1,731,002 ) (236,749 ) (3,357,701 )

Net increase (decrease) (43,082 ) ($577,701 ) 6,385 $56,131

Class R2 shares

Sold 91,438 $1,193,238 250,606 $3,565,996

Distributions reinvested 2,580 34,456 19,185 255,432

Repurchased (40,110 ) (528,293 ) (114,620 ) (1,617,998 )

Net increase 53,908 $699,401 155,171 $2,203,430

Class R3 shares

Sold 63,255 $825,337 162,944 $2,299,507

Distributions reinvested 3,159 42,230 33,484 446,286

Repurchased (135,149 ) (1,755,518 ) (290,464 ) (4,093,682 )

Net decrease (68,735 ) ($887,951 ) (94,036 ) ($1,347,889 )

Class R4 shares

Sold 141,040 $1,822,482 252,637 $3,566,838

Distributions reinvested 6,100 81,439 44,581 595,235

Repurchased (89,719 ) (1,153,949 ) (475,867 ) (6,734,698 )

Net increase (decrease) 57,421 $749,972 (178,649 ) ($2,572,625 )

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 46

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class R5 shares

Sold 62,043 $808,797 263,572 $3,697,650

Distributions reinvested 6,610 88,277 48,918 653,447

Repurchased (107,600 ) (1,419,777 ) (338,402 ) (4,721,168 )

Net decrease (38,947 ) ($522,703 ) (25,912 ) ($370,071 )

Class R6 shares

Sold 845,867 $11,040,213 1,170,178 $16,565,766

Distributions reinvested 22,239 296,893 128,905 1,717,638

Repurchased (442,729 ) (5,774,586 ) (405,959 ) (5,706,492 )

Net increase 425,377 $5,562,520 893,124 $12,576,912

Class 1 shares

Sold 1,642,836 $21,305,721 1,588,502 $22,358,367

Distributions reinvested 1,873,118 25,016,017 13,438,572 179,646,043

Repurchased (15,003,864 ) (197,056,983 ) (31,166,906 ) (437,253,881 )

Net decrease (11,487,910 ) ($150,735,245 ) (16,139,832 ) ($235,249,471 )

Class 5 shares

Sold 297,416 $3,879,914 380,594 $5,380,835

Distributions reinvested 35,669 475,935 231,049 3,082,849

Repurchased (163,288 ) (2,104,448 ) (345,964 ) (4,858,011 )

Net increase 169,797 $2,251,401 265,679 $3,605,673

Total net decrease (12,578,755 ) ($164,952,040 ) (9,874,517 ) ($150,029,655 )

¹ The inception date for Class I shares is 5-1-15.

Lifestyle Conservative Portfolio

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class A shares

Sold 6,858,248 $85,946,835 11,316,760 $149,968,723

Distributions reinvested 351,228 4,476,888 2,215,516 28,000,486

Repurchased (6,372,295 ) (79,721,217 ) (12,266,500 ) (162,198,929 )

Net increase 837,181 $10,702,506 1,265,776 $15,770,280

Class B shares

Sold 44,087 $545,170 68,853 $904,293

Distributions reinvested 8,095 103,293 89,013 1,121,089

Repurchased (307,666 ) (3,835,695 ) (665,251 ) (8,823,422 )

Net decrease (255,484 ) ($3,187,232 ) (507,385 ) ($6,798,040 )

Class C shares

Sold 1,972,552 $24,664,170 5,690,832 $75,406,681

Distributions reinvested 97,859 1,247,943 1,000,130 12,591,725

Repurchased (3,541,585 ) (44,359,702 ) (7,031,636 ) (92,875,328 )

Net decrease (1,471,174 ) ($18,447,589 ) (340,674 ) ($4,876,922 )

Class I shares¹

Sold 147,745 $1,852,365 381,460 $5,080,264

Distributions reinvested 3,859 49,124 14,636 183,821

Repurchased (47,621 ) (598,064 ) (67,762 ) (881,115 )

Net increase 103,983 $1,303,425 328,334 $4,382,970

Class R1 shares

Sold 331,783 $4,196,625 225,683 $2,981,179

Distributions reinvested 3,095 39,437 24,002 302,694

Repurchased (239,118 ) (3,023,186 ) (357,253 ) (4,721,554 )

Net increase (decrease) 95,760 $1,212,876 (107,568 ) ($1,437,681 )

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 47

Six months ended 6-30-16 Year ended 12-31-15

Shares Amount Shares Amount

Class R2 shares

Sold 144,930 $1,814,191 181,053 $2,404,224

Distributions reinvested 3,227 41,102 18,023 227,472

Repurchased (63,845 ) (803,407 ) (166,217 ) (2,193,793 )

Net increase 84,312 $1,051,886 32,859 $437,903

Class R3 shares

Sold 50,898 $637,565 206,581 $2,719,887

Distributions reinvested 3,523 44,785 31,991 403,431

Repurchased (187,981 ) (2,336,794 ) (417,128 ) (5,501,625 )

Net decrease (133,560 ) ($1,654,444 ) (178,556 ) ($2,378,307 )

Class R4 shares

Sold 199,589 $2,454,381 99,449 $1,312,285

Distributions reinvested 5,326 67,769 25,728 325,491

Repurchased (76,849 ) (956,788 ) (346,094 ) (4,616,655 )

Net increase (decrease) 128,066 $1,565,362 (220,917 ) ($2,978,879 )

Class R5 shares

Sold 48,164 $602,996 214,162 $2,850,953

Distributions reinvested 5,830 74,174 41,707 527,903

Repurchased (118,808 ) (1,481,558 ) (527,051 ) (6,932,586 )

Net decrease (64,814 ) ($804,388 ) (271,182 ) ($3,553,730 )

Class R6 shares

Sold 178,672 $2,227,625 705,937 $9,340,571

Distributions reinvested 10,639 135,260 54,928 693,768

Repurchased (157,369 ) (1,977,294 ) (349,196 ) (4,600,788 )

Net increase 31,942 $385,591 411,669 $5,433,551

Class 1 shares

Sold 3,005,363 $37,776,770 3,551,122 $46,667,277

Distributions reinvested 1,697,145 21,584,241 9,853,746 124,614,523

Repurchased (11,191,699 ) (140,139,225 ) (27,311,412 ) (360,450,882 )

Net decrease (6,489,191 ) ($80,778,214 ) (13,906,544 ) ($189,169,082 )

Total net decrease (7,132,979 ) ($88,650,221 ) (13,494,188 ) ($185,167,937 )

¹ The inception date for Class I shares is 5-1-15.

Affiliates of the Trust owned 100% of shares of beneficial interest of Class 1 shares in each portfolio, 100% of Class 5 shares of Lifestyle Growth, Lifestyle Balanced and Lifestyle Moderate and 100% of Class R6 shares of Lifestyle Balanced on June 30, 2016.

Note 6 — Purchase and sale of securities

The following summarizes the purchases and sales of the underlying funds for the six months ended June 30, 2016:

Portfolio Purchases Sales

Lifestyle Aggressive $189,677,771 $351,882,248

Lifestyle Growth 649,716,000 1,104,000,051

Lifestyle Balanced 729,645,868 1,308,090,344

Lifestyle Moderate 225,000,384 388,209,545

Lifestyle Conservative 227,839,162 315,677,878

Note 7 — Investment in affiliated underlying funds

The portfolios invest primarily in affiliated underlying funds that are managed by the Advisor and its affiliates. The portfolios do not invest in the affiliated underlying funds for the purpose of exercising management or control; however, the portfolios' investment may represent a significant portion of each underlying fund's net assets. At June 30, 2016, the following portfolios held 5% or more of the net assets of the underlying funds shown below:

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 48

Portfolio Affiliated Series NAV Percentage
of underlying
fund net assets

Lifestyle Aggressive Portfolio

John Hancock Global Focused Strategies Fund 99.2%

John Hancock Greater China Opportunities Fund 23.1%

John Hancock Small Cap Core Fund 21.3%

John Hancock Funds II All Cap Core Fund 19.4%

John Hancock Emerging Markets Equity Fund 17.8%

John Hancock Funds II Technical Opportunities Fund 17.6%

John Hancock Funds II Small Company Growth Fund 16.5%

John Hancock Funds II Value Fund 16.2%

John Hancock Funds II Small Cap Growth Fund 16.0%

John Hancock Funds III International Value Equity Fund 15.9%

John Hancock Funds II International Growth Stock Fund 15.9%

John Hancock Funds II Alpha Opportunities Fund 15.5%

John Hancock Funds II Fundamental Large Cap Value Fund 14.7%

John Hancock Funds II International Small Company Fund 14.5%

John Hancock Funds II Mid Value Fund 14.4%

John Hancock Funds II International Growth Opportunities Fund 13.6%

John Hancock Funds II Science & Technology Fund 13.4%

John Hancock Value Equity Fund 13.3%

John Hancock Funds II International Small Cap Fund 13.2%

John Hancock Funds III International Core Fund 13.1%

John Hancock Funds II International Value Fund 13.1%

John Hancock Funds II Health Sciences Fund 12.9%

John Hancock Funds II Natural Resources Fund 12.5%

John Hancock Funds II Emerging Markets Fund 11.8%

John Hancock Funds II Equity Income Fund 11.5%

John Hancock Funds II Mid Cap Stock Fund 11.5%

John Hancock Funds II Small Company Value Fund 10.7%

John Hancock Funds II Small Cap Value Fund 10.1%

John Hancock Funds II Fundamental Global Franchise Fund 9.2%

John Hancock Funds II Capital Appreciation Value Fund 9.1%

John Hancock Funds II Capital Appreciation Fund 9.1%

John Hancock Funds II Real Estate Equity Fund 9.1%

John Hancock Funds II Global Real Estate Fund 8.9%

John Hancock Funds III Strategic Growth Fund 8.8%

John Hancock Funds II Global Equity Fund 8.7%

John Hancock Financial Industries Fund 8.4%

John Hancock Funds II U.S. Equity Fund 7.3%

John Hancock Funds II Blue Chip Growth Fund 7.2%

John Hancock Funds II Redwood Fund 6.0%

John Hancock Funds II New Opportunities Fund 5.8%

Lifestyle Growth Portfolio

John Hancock Funds II All Cap Core Fund 49.9%

John Hancock Small Cap Core Fund 44.5%

John Hancock Value Equity Fund 43.5%

John Hancock Funds II Technical Opportunities Fund 41.7%

John Hancock Funds II Value Fund 40.0%

John Hancock Funds III International Value Equity Fund 39.1%

John Hancock Funds II International Growth Stock Fund 38.5%

John Hancock Emerging Markets Equity Fund 38.0%

John Hancock Funds II Health Sciences Fund 38.0%

John Hancock Funds II Mid Value Fund 36.8%

John Hancock Funds II Alpha Opportunities Fund 36.0%

John Hancock Funds II International Small Company Fund 35.8%

John Hancock Funds II Science & Technology Fund 35.1%

John Hancock Funds III International Core Fund 35.1%

John Hancock Funds II Fundamental Large Cap Value Fund 34.8%

John Hancock Funds II Small Company Growth Fund 34.1%

John Hancock Funds II International Small Cap Fund 32.5%

John Hancock Funds II Small Cap Growth Fund 32.4%

John Hancock Funds II Capital Appreciation Value Fund 32.0%

John Hancock Funds II Fundamental Global Franchise Fund 31.2%

John Hancock Funds II Equity Income Fund 31.0%

John Hancock Funds II International Value Fund 30.3%

John Hancock Funds II Real Estate Equity Fund 28.8%

John Hancock Funds II Mid Cap Stock Fund 28.7%

John Hancock Funds II International Growth Opportunities Fund 28.4%

John Hancock Funds II Global Real Estate Fund 28.3%

John Hancock Funds II Natural Resources Fund 28.0%

John Hancock Funds II U.S. Equity Fund 26.8%

John Hancock Funds II Emerging Markets Fund 25.6%

John Hancock Funds II Global Equity Fund 23.9%

John Hancock Funds II Emerging Markets Debt Fund 23.8%

John Hancock Funds II Capital Appreciation Fund 23.5%

John Hancock Funds II Small Company Value Fund 22.9%

John Hancock Funds III Strategic Growth Fund 22.9%

John Hancock Financial Industries Fund 22.4%

John Hancock Funds II Small Cap Value Fund 21.9%

John Hancock Funds II Redwood Fund 21.1%

John Hancock Funds II Global Income Fund 19.5%

John Hancock Funds II Asia Pacific Total Return Bond Fund 19.5%

John Hancock Funds II Blue Chip Growth Fund 19.1%

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 49

Portfolio Affiliated Series NAV Percentage
of underlying
fund net assets

Lifestyle Growth Portfolio (continued)

John Hancock Funds II Absolute Return Currency Fund 18.4%

John Hancock Global Short Duration Credit Fund 18.1%

John Hancock Funds II Spectrum Income Fund 15.8%

John Hancock Funds II Short Duration Credit Opportunities Fund 15.8%

John Hancock Funds II U.S. High Yield Bond Fund 15.4%

John Hancock Funds II Real Return Bond Fund 14.7%

John Hancock Funds II Floating Rate Income Fund 14.0%

John Hancock Funds II New Opportunities Fund 12.1%

John Hancock Funds II Active Bond Fund 11.8%

John Hancock Focused High Yield Fund 10.8%

John Hancock Funds II Total Return Fund 9.5%

John Hancock Funds III Global Shareholder Yield Fund 8.8%

John Hancock Funds II Global Bond Fund 7.0%

John Hancock Funds II High Yield Fund 6.6%

John Hancock Funds II Core Bond Fund 5.8%

John Hancock Seaport Fund 5.8%

John Hancock Funds II Short Term Government Income Fund 5.2%

John Hancock Funds II Strategic Income Opportunities Fund 5.1%

Lifestyle Balanced Portfolio

John Hancock Funds II Global Real Estate Fund 44.1%

John Hancock Global Short Duration Credit Fund 43.5%

John Hancock Funds II Spectrum Income Fund 39.4%

John Hancock Funds II Investment Quality Bond Fund 36.5%

John Hancock Funds II Short Duration Credit Opportunities Fund 36.4%

John Hancock Funds II Asia Pacific Total Return Bond Fund 34.1%

John Hancock Small Cap Core Fund 33.8%

John Hancock Funds II Global Income Fund 33.3%

John Hancock Funds II Emerging Markets Debt Fund 33.0%

John Hancock Funds II Global Bond Fund 31.6%

John Hancock Funds II Science & Technology Fund 31.3%

John Hancock Funds II Capital Appreciation Value Fund 31.3%

John Hancock Value Equity Fund 31.3%

John Hancock Funds II U.S. High Yield Bond Fund 31.2%

John Hancock Funds II All Cap Core Fund 30.7%

John Hancock Funds II Fundamental Global Franchise Fund 30.6%

John Hancock Funds II Health Sciences Fund 30.5%

John Hancock Funds II Real Estate Equity Fund 30.1%

John Hancock Funds II Value Fund 29.8%

John Hancock Funds II Real Return Bond Fund 29.2%

John Hancock Funds II Floating Rate Income Fund 29.1%

John Hancock Funds II International Growth Stock Fund 28.7%

John Hancock Funds III International Value Equity Fund 28.5%

John Hancock Funds II Active Bond Fund 28.4%

John Hancock Funds II Mid Value Fund 27.3%

John Hancock Funds II Alpha Opportunities Fund 26.3%

John Hancock Funds II Fundamental Large Cap Value Fund 26.2%

John Hancock Funds II U.S. Equity Fund 26.2%

John Hancock Funds II Technical Opportunities Fund 25.9%

John Hancock Funds II Small Company Growth Fund 25.6%

John Hancock Funds II Small Cap Growth Fund 25.1%

John Hancock Funds II International Small Company Fund 24.3%

John Hancock Emerging Markets Equity Fund 24.2%

John Hancock Funds II Global Equity Fund 24.2%

John Hancock Funds II International Value Fund 23.6%

John Hancock Funds II Equity Income Fund 23.5%

John Hancock Funds III International Core Fund 22.8%

John Hancock Funds II International Small Cap Fund 22.1%

John Hancock Funds II International Growth Opportunities Fund 22.0%

John Hancock Funds II Natural Resources Fund 21.8%

John Hancock Funds II Total Return Fund 21.5%

John Hancock Funds II Redwood Fund 21.4%

John Hancock Focused High Yield Fund 20.9%

John Hancock Funds II Mid Cap Stock Fund 20.6%

John Hancock Funds II Absolute Return Currency Fund 20.5%

John Hancock Financial Industries Fund 19.5%

John Hancock Funds II Small Company Value Fund 18.4%

John Hancock Funds II Core Bond Fund 17.9%

John Hancock Funds II Capital Appreciation Fund 16.9%

John Hancock Funds II Small Cap Value Fund 16.9%

John Hancock Funds III Strategic Growth Fund 16.4%

John Hancock Funds II Emerging Markets Fund 15.7%

John Hancock Funds II Blue Chip Growth Fund 14.7%

John Hancock Funds II High Yield Fund 13.8%

John Hancock Funds II Strategic Income Opportunities Fund 10.7%

John Hancock Funds II Short Term Government Income Fund 10.5%

John Hancock Funds II New Opportunities Fund 9.2%

John Hancock Funds III Global Shareholder Yield Fund 8.3%

John Hancock Seaport Fund 5.6%

Lifestyle Moderate Portfolio

John Hancock Funds II Investment Quality Bond Fund 24.4%

John Hancock Funds II Global Bond Fund 19.1%

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 50

Portfolio Affiliated Series NAV Percentage
of underlying
fund net assets

Lifestyle Moderate Portfolio (continued)

John Hancock Funds II Asia Pacific Total Return Bond Fund 18.4%

John Hancock Funds II Active Bond Fund 16.9%

John Hancock Enduring Assets Fund 16.9%

John Hancock Funds II Spectrum Income Fund 15.5%

John Hancock Funds II U.S. High Yield Bond Fund 14.3%

John Hancock Funds II Emerging Markets Debt Fund 14.2%

John Hancock Funds II Real Return Bond Fund 14.0%

John Hancock Funds II Global Income Fund 13.4%

John Hancock Funds II Short Duration Credit Opportunities Fund 13.3%

John Hancock Global Short Duration Credit Fund 12.9%

John Hancock Funds II Total Return Fund 12.8%

John Hancock Funds II Floating Rate Income Fund 12.7%

John Hancock Funds II Core Bond Fund 11.1%

John Hancock Funds II Fundamental Large Cap Value Fund 10.4%

John Hancock Funds II Real Estate Equity Fund 9.4%

John Hancock Funds II Global Real Estate Fund 9.2%

John Hancock Funds II Fundamental Global Franchise Fund 9.2%

John Hancock Funds II Capital Appreciation Value Fund 9.0%

John Hancock Focused High Yield Fund 8.9%

John Hancock Funds II U.S. Equity Fund 7.9%

John Hancock Funds II Mid Value Fund 7.5%

John Hancock Funds II Global Equity Fund 7.3%

John Hancock Funds II Equity Income Fund 7.3%

John Hancock Funds II Absolute Return Currency Fund 7.2%

John Hancock Funds II High Yield Fund 6.9%

John Hancock Funds II Small Company Growth Fund 6.5%

John Hancock Funds II Redwood Fund 6.4%

John Hancock Funds II Small Cap Growth Fund 6.2%

John Hancock Funds II International Growth Stock Fund 5.2%

Lifestyle Conservative Portfolio

John Hancock Funds II Short Term Government Income Fund 48.6%

John Hancock Enduring Assets Fund 47.1%

John Hancock Funds II Investment Quality Bond Fund 25.5%

John Hancock Funds II Global Bond Fund 20.6%

John Hancock Funds II Active Bond Fund 18.0%

John Hancock Funds II Real Return Bond Fund 17.1%

John Hancock Funds II Asia Pacific Total Return Bond Fund 15.2%

John Hancock Funds II Emerging Markets Debt Fund 14.8%

John Hancock Funds II Spectrum Income Fund 13.7%

John Hancock Funds II Total Return Fund 13.6%

John Hancock Funds II Core Bond Fund 11.9%

John Hancock Funds II Short Duration Credit Opportunities Fund 11.6%

John Hancock Funds II Floating Rate Income Fund 11.4%

John Hancock Funds III Core High Yield Fund 9.5%

John Hancock Global Short Duration Credit Fund 8.6%

John Hancock Funds II Absolute Return Currency Fund 8.3%

John Hancock Funds II Global Income Fund 6.7%

John Hancock Funds II Real Estate Equity Fund 6.6%

John Hancock Funds II Global Real Estate Fund 6.4%

John Hancock Funds II U.S. High Yield Bond Fund 5.9%

John Hancock Funds II Global Equity Fund 5.2%

John Hancock Funds II Fundamental Global Franchise Fund 5.0%

Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios' from their investments in affiliated underlying funds is as follows:

Dividends and distributions

Portfolio Beginning
share
amount Shares
purchased Shares
sold Ending
share
amount Income
distributions
received Capital gain
distributions
received Realized
gain (loss) Ending
value

Lifestyle Aggressive Portfolio

Absolute Return Currency 3,886,791 272,851 (860,470 ) 3,299,172 — — ($62,038 ) $31,012,215

All Cap Core 10,325,821 — (529,474 ) 9,796,347 — — (130,276 ) 116,674,491

Alpha Opportunities 22,716,092 — (1,363,889 ) 21,352,203 — — (2,313,201 ) 226,760,400

Blue Chip Growth 6,318,742 — (192,827 ) 6,125,915 — — (366,282 ) 187,820,566

Capital Appreciation 11,435,397 — (235,698 ) 11,199,699 — — (216,940 ) 175,611,274

Capital Appreciation Value 16,686,946 — — 16,686,946 — — — 189,063,100

Disciplined Value 5,503,360 — (150,799 ) 5,352,561 — — (149,628 ) 93,295,130

Emerging Markets 25,584,734 — (8,065,926 ) 17,518,808 — — (10,741,604 ) 157,844,457

Emerging Markets Equity 8,458,813 8,082,027 — 16,540,840 — — — 146,055,616

Equity Income 12,609,100 126,937 (1,476,101 ) 11,259,936 $2,158,022 — (5,930,844 ) 200,539,460

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 51

Dividends and distributions

Portfolio Beginning
share
amount Shares
purchased Shares
sold Ending
share
amount Income
distributions
received Capital gain
distributions
received Realized
gain (loss) Ending
value

Financial Industries 5,864,417 6,204 (1,350,713 ) 4,519,908 — — (1,155,574 ) 69,561,381

Fundamental Global Franchise 3,351,097 — (300,802 ) 3,050,295 — — (57,388 ) 39,806,353

Fundamental Large Cap Value 13,894,392 911,723 (385,164 ) 14,420,951 — — (527,352 ) 175,070,347

Global Absolute Return Strategies 4,926,984 127,916 (5,054,900 ) — — — (1,783,278 ) —

Global Equity 5,254,023 — (428,241 ) 4,825,782 — — (172,712 ) 50,525,936

Global Focused Strategies — 4,898,227 (31,436 ) 4,866,791 — — (9,154 ) 47,597,213

Global Real Estate 2,328,574 25,308 (332,845 ) 2,021,037 — — 735,640 20,210,374

Global Shareholder Yield 3,807,897 74,603 (542,669 ) 3,339,831 763,024 — 325,448 35,602,595

Greater China Opportunities 641,400 — — 641,400 — — — 11,250,160

Health Sciences 4,904,786 453,050 (222,714 ) 5,135,122 — — (987,529 ) 28,294,526

International Core 5,475,196 89,858 — 5,565,054 — — — 155,376,309

International Growth Opportunities 8,795,653 110,986 (185,639 ) 8,721,000 — — (401,140 ) 102,733,375

International Growth Stock 9,576,685 715,327 (366,355 ) 9,925,657 — — (611,972 ) 120,100,451

International Small Cap 5,861,145 — (200,873 ) 5,660,272 — — (488,886 ) 94,922,769

International Small Company 10,459,981 — (687,630 ) 9,772,351 — — (278,206 ) 95,573,596

International Value 15,283,380 73,135 (1,268,696 ) 14,087,819 — — (3,084,058 ) 193,707,512

International Value Equity 10,364,052 1,599,600 (224,691 ) 11,738,961 — — (306,294 ) 83,698,793

Mid Cap Stock 9,577,074 166,873 (437,047 ) 9,306,900 — — (1,551,736 ) 167,151,922

Mid Value 10,028,391 — (1,455,901 ) 8,572,490 — — (2,195,583 ) 130,559,018

Natural Resources 6,272,587 1,042,328 — 7,314,915 — — — 81,927,045

New Opportunities 1,402,821 — (88,323 ) 1,314,498 — — (667,437 ) 30,088,857

Real Estate Equity 1,914,698 77,742 (329,035 ) 1,663,405 — — 420,380 20,210,374

Redwood 3,183,543 292 (239,526 ) 2,944,309 — — (279,986 ) 29,590,308

Science & Technology 9,865,742 — (535,006 ) 9,330,736 — — (91,981 ) 101,051,872

Seaport 1,933,793 — — 1,933,793 — — — 20,266,149

Small Cap Core 3,324,695 — (376,335 ) 2,948,360 — — (12,530 ) 30,368,108

Small Cap Growth 4,122,061 372,661 (203,486 ) 4,291,236 — — (580,017 ) 31,883,887

Small Cap Value 2,298,783 — (208,602 ) 2,090,181 — — (339,591 ) 40,235,993

Small Company Growth 1,734,127 7,701 (87,683 ) 1,654,145 — — (90,642 ) 28,848,288

Small Company Value 1,189,928 — (139,049 ) 1,050,879 — — 100,749 27,890,317

Strategic Growth 12,221,908 — (834,164 ) 11,387,744 — — (780,639 ) 176,396,147

Technical Opportunities 9,707,622 897,859 (77,749 ) 10,527,732 — — (204,064 ) 112,857,289

U.S. Equity 7,748,441 — (739,539 ) 7,008,902 — — (1,740,296 ) 71,560,893

Value 5,706,443 110,760 (415,063 ) 5,402,140 — — (642,408 ) 55,263,892

Value Equity 5,333,276 — (94,470 ) 5,238,806 — — (16,326 ) 51,968,957

$2,921,046 — ($37,385,375 ) $4,056,827,715

Lifestyle Growth Portfolio

Absolute Return Currency 22,246,055 1,332,547 (3,256,507 ) 20,322,095 — — ($970,900 ) $191,027,694

Active Bond 14,359,213 11,486,626 (888,884 ) 24,956,955 $3,327,590 — (25,396 ) 254,810,515

All Cap Core 26,553,541 — (1,375,802 ) 25,177,739 — — (536,364 ) 299,866,876

Alpha Opportunities 56,263,000 — (6,711,235 ) 49,551,765 — — (11,125,951 ) 526,239,743

Asia Pacific Total Return Bond 9,512,044 43,454 (1,134,697 ) 8,420,801 — — (1,150,304 ) 79,744,987

Blue Chip Growth 16,761,624 — (583,575 ) 16,178,049 — — (1,322,010 ) 496,018,978

Capital Appreciation 29,769,859 — (1,054,463 ) 28,715,396 — — (1,158,409 ) 450,257,414

Capital Appreciation Value 58,612,626 — (265,408 ) 58,347,218 — — (262,754 ) 661,073,977

Core Bond 2,708,494 3,706,892 (239,399 ) 6,175,987 578,604 — 25,407 82,758,220

Disciplined Value 14,789,529 — (855,962 ) 13,933,567 — — (1,238,844 ) 242,862,072

Emerging Markets 55,588,032 — (17,661,558 ) 37,926,474 — — (18,790,941 ) 341,717,533

Emerging Markets Debt 15,835,991 420,227 (2,239,946 ) 14,016,272 3,730,073 — (3,149,624 ) 131,052,142

Emerging Markets Equity 20,772,704 14,496,047 — 35,268,751 — — — 311,423,075

Equity Income 33,276,468 337,427 (3,311,060 ) 30,302,835 5,736,102 — (11,700,915 ) 539,693,494

Financial Industries 15,835,879 — (3,837,380 ) 11,998,499 — — (3,623,911 ) 184,656,896

Floating Rate Income 44,213,805 1,124,005 (9,237,787 ) 36,100,023 9,166,593 — (11,821,034 ) 301,796,190

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 52

Dividends and distributions

Portfolio Beginning
share
amount Shares
purchased Shares
sold Ending
share
amount Income
distributions
received Capital gain
distributions
received Realized
gain (loss) Ending
value

Focused High Yield 21,058,944 2,800,867 (1,977,054 ) 21,882,757 2,456,171 — (1,183,737 ) 72,650,753

Fundamental Global Franchise 11,355,920 6,695 (999,151 ) 10,363,464 — — (148,439 ) 135,243,207

Fundamental Large Cap Value 34,068,736 336,417 (179,691 ) 34,225,462 — — (215,579 ) 415,497,107

Global Absolute Return Strategies 28,149,298 977,058 (530,612 ) 28,595,744 — — (627,826 ) 284,241,697

Global Bond 3,017,320 56,087 (389,662 ) 2,683,745 — — 417,192 34,727,656

Global Equity 14,319,067 8,168 (1,011,997 ) 13,315,238 — — (1,739,226 ) 139,410,541

Global Income 9,257,211 277,139 (1,120,862 ) 8,413,488 2,460,275 — (1,705,007 ) 77,404,086

Global Real Estate 7,377,409 9,834 (956,196 ) 6,431,047 — — 2,441,326 64,310,474

Global Shareholder Yield 19,313,027 400,970 (2,773,677 ) 16,940,320 3,828,132 — (2,154,698 ) 180,583,810

Global Short Duration Credit 6,895,105 198,108 (740,646 ) 6,352,567 1,704,755 — (1,144,255 ) 56,220,216

Health Sciences 14,307,633 1,720,126 (927,399 ) 15,100,360 — — (4,181,968 ) 83,202,984

High Yield 4,371,737 555,408 (509,944 ) 4,417,201 948,423 — 120,158 34,277,482

International Core 14,778,493 215,530 (87,953 ) 14,906,070 — — (554,310 ) 416,177,472

International Growth Opportunities 21,337,475 — (3,155,070 ) 18,182,405 — — (9,410,438 ) 214,188,736

International Growth Stock 24,678,219 855,648 (1,527,425 ) 24,006,442 — — (3,238,173 ) 290,477,950

International Small Cap 14,419,198 — (425,022 ) 13,994,176 — — (1,063,563 ) 234,682,332

International Small Company 25,964,900 — (1,774,775 ) 24,190,125 — — (1,093,716 ) 236,579,425

International Value 37,745,103 150,272 (5,223,977 ) 32,671,398 — — (16,406,159 ) 449,231,727

International Value Equity 27,155,303 1,850,359 (195,310 ) 28,810,352 — — (423,083 ) 205,417,807

Mid Cap Stock 24,354,935 211,419 (1,299,999 ) 23,266,355 — — (4,627,960 ) 417,863,733

Mid Value 25,357,052 — (3,473,756 ) 21,883,296 — — (5,848,992 ) 333,282,598

Natural Resources 15,482,956 937,184 — 16,420,140 — — — 183,905,565

New Opportunities 2,922,044 8,306 (203,003 ) 2,727,347 — — (1,556,932 ) 62,428,982

Real Estate Equity 6,030,980 79,376 (848,013 ) 5,262,343 — — 1,609,443 63,937,473

Real Return Bond 9,595,130 3,892,917 (749,280 ) 12,738,767 262,259 — (929,155 ) 143,820,681

Redwood 11,127,018 97,607 (923,431 ) 10,301,194 — — (1,445,906 ) 103,527,000

Science & Technology 26,270,664 — (1,909,880 ) 24,360,784 — — (782,327 ) 263,827,287

Seaport 3,774,023 110,735 (33,298 ) 3,851,460 — — 29,635 40,363,302

Short Duration Credit Opportunities 23,476,882 486,277 (1,296,086 ) 22,667,073 3,912,642 — (1,232,050 ) 215,337,190

Short Term Government Income — 1,815,498 (154,587 ) 1,660,911 73,010 — 675 16,077,618

Small Cap Core 6,975,434 13,106 (827,222 ) 6,161,318 — — (184,813 ) 63,461,575

Small Cap Growth 8,504,209 688,952 (480,520 ) 8,712,641 — — (1,403,411 ) 64,734,923

Small Cap Value 4,944,799 17,082 (429,060 ) 4,532,821 — — (737,907 ) 87,256,798

Small Company Growth 3,563,474 83,960 (240,020 ) 3,407,414 — — (285,388 ) 59,425,304

Small Company Value 2,559,775 2,088 (321,901 ) 2,239,962 — — 74,423 59,448,602

Spectrum Income 14,823,764 407,451 (1,364,536 ) 13,866,679 2,314,879 — (581,089 ) 146,293,465

Strategic Growth 31,948,046 — (2,389,308 ) 29,558,738 — — (1,788,236 ) 457,864,847

Strategic Income Opportunities 22,139,598 6,496,162 (731,082 ) 27,904,678 3,642,624 — (298,999 ) 295,789,592

Technical Opportunities 24,959,705 424,381 (402,703 ) 24,981,383 — — (1,075,407 ) 267,800,429

Total Return 8,049,202 6,251,554 (478,719 ) 13,822,037 1,389,598 — 32,635 188,532,584

U.S. Equity 28,503,748 — (2,874,040 ) 25,629,708 — — (5,959,858 ) 261,679,317

U.S. High Yield Bond 4,357,234 819,528 (382,220 ) 4,794,542 1,475,037 — (82,787 ) 51,157,767

Value 14,758,949 — (1,375,327 ) 13,383,622 — — (2,417,501 ) 136,914,448

Value Equity 18,028,927 3,934 (906,308 ) 17,126,553 — — (270,357 ) 169,895,409

$47,006,767 — ($138,925,715 ) $12,874,151,757

Lifestyle Balanced Portfolio

Absolute Return Currency 25,352,959 1,459,407 (4,104,134 ) 22,708,232 — — ($1,312,635 ) $213,457,382

Active Bond 50,924,980 10,971,803 (2,003,890 ) 59,892,893 $8,023,179 — 22,068 611,506,435

All Cap Core 16,760,958 11,741 (1,255,180 ) 15,517,519 — — (1,921,417 ) 184,813,654

Alpha Opportunities 40,638,842 — (4,483,889 ) 36,154,953 — — (8,830,781 ) 383,965,604

Asia Pacific Total Return Bond 16,491,012 130,327 (1,877,532 ) 14,743,807 — — (1,806,819 ) 139,623,856

Blue Chip Growth 12,981,182 861 (508,056 ) 12,473,987 — — (830,015 ) 382,452,444

Capital Appreciation 21,354,203 174,794 (884,077 ) 20,644,920 — — (788,288 ) 323,712,338

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 53

Dividends and distributions

Portfolio Beginning
share
amount Shares
purchased Shares
sold Ending
share
amount Income
distributions
received Capital gain
distributions
received Realized
gain (loss) Ending
value

Capital Appreciation Value 57,034,556 — — 57,034,556 — — — 646,201,523

Core Bond 15,228,689 4,292,700 (546,490 ) 18,974,899 1,782,684 — 38,014 254,263,643

Disciplined Value 11,935,525 58,720 (475,474 ) 11,518,771 — — (510,359 ) 200,772,185

Emerging Markets 36,630,870 — (13,475,026 ) 23,155,844 — — (7,557,234 ) 208,634,153

Emerging Markets Debt 22,007,182 583,259 (3,144,788 ) 19,445,653 5,176,682 — (4,391,035 ) 181,816,854

Emerging Markets Equity 15,612,287 8,608,787 (1,753,490 ) 22,467,584 — — (2,727,788 ) 198,388,763

Equity Income 24,952,605 430,593 (2,384,430 ) 22,998,768 4,361,846 — (7,490,461 ) 409,608,062

Financial Industries 13,566,754 — (3,141,128 ) 10,425,626 — — (2,795,601 ) 160,450,385

Floating Rate Income 93,284,699 2,339,868 (20,824,696 ) 74,799,871 19,081,876 — (28,244,673 ) 625,326,919

Focused High Yield 40,409,848 5,939,990 (3,906,613 ) 42,443,225 4,754,708 — (2,340,298 ) 140,911,508

Fundamental Global Franchise 10,953,147 31,519 (801,259 ) 10,183,407 — — (67,903 ) 132,893,456

Fundamental Large Cap Value 25,337,019 620,458 (171,379 ) 25,786,098 — — (124,451 ) 313,043,225

Global Absolute Return Strategies 32,167,685 1,264,350 (1,427,677 ) 32,004,358 — — (1,552,463 ) 318,123,315

Global Bond 13,734,974 226,940 (1,903,981 ) 12,057,933 — — 594,654 156,029,659

Global Equity 14,521,379 — (1,026,463 ) 13,494,916 — — (1,175,998 ) 141,291,773

Global Income 15,845,180 491,345 (1,958,245 ) 14,378,280 4,214,928 — (2,750,313 ) 132,280,178

Global Real Estate 11,352,571 75,421 (1,415,350 ) 10,012,642 — — 3,518,386 100,126,415

Global Shareholder Yield 18,009,472 383,089 (2,395,464 ) 15,997,097 3,596,387 — 1,212,844 170,529,059

Global Short Duration Credit 16,506,184 483,954 (1,689,766 ) 15,300,372 4,116,674 — (2,591,036 ) 135,408,289

Health Sciences 11,359,434 1,775,303 (1,014,160 ) 12,120,577 — — (1,025,867 ) 66,784,378

High Yield 8,950,903 1,205,442 (950,624 ) 9,205,721 1,977,084 — 255,435 71,436,398

International Core 9,869,338 40,038 (203,951 ) 9,705,425 — — (1,303,374 ) 270,975,461

International Growth Opportunities 17,066,999 28,046 (3,018,429 ) 14,076,616 — — (8,019,916 ) 165,822,539

International Growth Stock 18,557,836 996,467 (1,631,618 ) 17,922,685 — — (2,717,687 ) 216,864,489

International Small Cap 9,874,898 58,892 (418,706 ) 9,515,084 — — (991,199 ) 159,567,966

International Small Company 17,623,049 102,775 (1,278,190 ) 16,447,634 — — (522,936 ) 160,857,860

International Value 30,934,948 141,646 (5,593,505 ) 25,483,089 — — (15,866,182 ) 350,392,472

International Value Equity 20,781,758 1,593,646 (1,397,204 ) 20,978,200 — — (2,165,865 ) 149,574,565

Investment Quality Bond 16,407,940 1,755,127 (854,236 ) 17,308,831 1,802,463 — (211,287 ) 216,014,215

Mid Cap Stock 17,611,624 175,573 (1,143,026 ) 16,644,171 — — (4,188,881 ) 298,929,305

Mid Value 18,706,829 139,567 (2,596,673 ) 16,249,723 — — (4,434,043 ) 247,483,285

Natural Resources 15,158,253 — (2,396,182 ) 12,762,071 — — (17,496,371 ) 142,935,190

New Opportunities 2,296,849 3,524 (237,513 ) 2,062,860 — — (1,917,505 ) 47,218,868

Real Estate Equity 6,223,193 227,141 (956,429 ) 5,493,905 — — 1,277,614 66,750,943

Real Return Bond 18,638,241 7,964,336 (1,336,482 ) 25,266,095 519,660 — (1,110,095 ) 285,254,212

Redwood 11,053,405 162,667 (773,672 ) 10,442,400 — — (1,052,696 ) 104,946,123

Science & Technology 23,880,416 105,813 (2,275,062 ) 21,711,167 — — (858,015 ) 235,131,943

Seaport 3,625,525 98,524 — 3,724,049 — — — 39,028,030

Short Duration Credit Opportunities 55,310,975 1,282,411 (4,213,242 ) 52,380,144 9,089,738 — (4,252,869 ) 497,611,367

Short Term Government Income — 3,392,490 (29,213 ) 3,363,277 113,646 — 588 32,556,524

Small Cap Core 5,438,429 8,407 (760,469 ) 4,686,367 — — (227,842 ) 48,269,582

Small Cap Growth 6,631,455 481,259 (365,811 ) 6,746,903 — — (1,060,008 ) 50,129,491

Small Cap Value 3,951,064 776 (463,851 ) 3,487,989 — — (776,879 ) 67,143,786

Small Company Growth 2,791,886 12,901 (240,758 ) 2,564,029 — — (334,447 ) 44,716,660

Small Company Value 2,045,457 1,302 (248,953 ) 1,797,806 — — 90,582 47,713,768

Spectrum Income 37,420,012 1,065,187 (3,976,270 ) 34,508,929 5,793,323 — (1,610,198 ) 364,069,204

Strategic Growth 22,946,627 28,880 (1,756,225 ) 21,219,282 — — 1,825,857 328,686,675

Strategic Income Opportunities 56,416,757 4,738,995 (2,199,376 ) 58,956,376 8,163,296 — (1,084,894 ) 624,937,583

Technical Opportunities 15,802,630 209,935 (483,218 ) 15,529,347 — — (869,467 ) 166,474,597

Total Return 26,238,032 6,286,910 (1,134,772 ) 31,390,170 3,173,796 — (102,754 ) 428,161,924

U.S. Equity 27,318,285 107,225 (2,381,474 ) 25,044,036 — — (4,739,264 ) 255,699,611

U.S. High Yield Bond 8,801,337 1,648,608 (759,325 ) 9,690,620 2,976,795 — (368,171 ) 103,398,912

Value 11,023,480 151,510 (1,201,609 ) 9,973,381 — — (2,019,503 ) 102,027,685

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 54

Dividends and distributions

Portfolio Beginning
share
amount Shares
purchased Shares
sold Ending
share
amount Income
distributions
received Capital gain
distributions
received Realized
gain (loss) Ending
value

Value Equity 12,717,030 111,192 (533,458 ) 12,294,764 — — (20,993 ) 121,964,057

$88,718,765 — ($152,322,734 ) $13,445,160,745

Lifestyle Moderate Portfolio

Absolute Return Currency 8,741,321 541,300 (1,299,844 ) 7,982,777 — — ($386,711 ) $75,038,105

Active Bond 34,287,053 2,533,643 (1,241,342 ) 35,579,354 $4,791,247 — (185,627 ) 363,265,199

Alpha Opportunities 7,560,770 — (1,188,537 ) 6,372,233 — — (823,804 ) 67,673,113

Asia Pacific Total Return Bond 8,664,876 57,879 (761,535 ) 7,961,220 — — (706,809 ) 75,392,756

Blue Chip Growth 3,122,560 55,690 (111,633 ) 3,066,617 — — (165,359 ) 94,022,484

Capital Appreciation 4,936,045 159,472 (229,139 ) 4,866,378 — — (199,064 ) 76,304,800

Capital Appreciation Value 16,417,060 — — 16,417,060 — — — 186,005,290

Core Bond 10,885,055 1,237,823 (378,929 ) 11,743,949 1,109,984 — 1,349 157,368,914

Emerging Markets 6,838,457 — (2,845,694 ) 3,992,763 — — (5,479,369 ) 35,974,797

Emerging Markets Debt 9,330,596 250,504 (1,179,802 ) 8,401,298 2,223,252 — (1,589,030 ) 78,552,134

Emerging Markets Equity 2,669,401 1,441,449 (349,079 ) 3,761,771 — — (529,185 ) 33,216,440

Enduring Assets 2,049,400 37,437 (235,163 ) 1,851,674 243,960 — 166,874 20,942,432

Equity Income 7,662,144 137,376 (641,759 ) 7,157,761 1,349,297 — (1,478,921 ) 127,479,717

Floating Rate Income 42,537,528 1,050,074 (10,881,335 ) 32,706,267 8,560,799 — (15,136,019 ) 273,424,394

Focused High Yield 16,855,421 2,512,600 (1,302,266 ) 18,065,755 2,011,734 — (767,143 ) 59,978,307

Fundamental Global Franchise 3,241,899 24,054 (203,672 ) 3,062,281 — — (24,510 ) 39,962,768

Fundamental Large Cap Value 10,073,730 374,350 (275,159 ) 10,172,921 — — (372,055 ) 123,499,264

Global Absolute Return Strategies 11,016,663 447,541 (322,057 ) 11,142,147 — — (375,412 ) 110,752,938

Global Bond 8,148,531 154,076 (1,019,690 ) 7,282,917 — — 282,889 94,240,944

Global Equity 4,258,646 8,150 (176,643 ) 4,090,153 — — (167,709 ) 42,823,904

Global Income 6,226,834 189,110 (644,938 ) 5,771,006 1,678,665 — (986,040 ) 53,093,254

Global Real Estate 2,324,763 38,141 (268,661 ) 2,094,243 — — 963,469 20,942,432

Global Shareholder Yield 4,986,645 101,303 (572,555 ) 4,515,393 1,011,295 — (653,361 ) 48,134,086

Global Short Duration Credit 4,789,337 141,173 (396,059 ) 4,534,451 1,210,947 — (606,672 ) 40,129,888

High Yield 4,419,593 576,451 (414,077 ) 4,581,967 978,163 — (379,344 ) 35,556,061

International Core 2,215,055 71,291 (264,732 ) 2,021,614 — — (1,468,177 ) 56,443,468

International Growth Opportunities 3,388,388 201,070 (489,385 ) 3,100,073 — — (1,053,550 ) 36,518,857

International Growth Stock 3,702,235 29,628 (474,177 ) 3,257,686 — — (791,100 ) 39,418,001

International Small Cap 1,906,279 255 (45,137 ) 1,861,397 — — (91,255 ) 31,215,629

International Small Company 3,402,005 — (192,648 ) 3,209,357 — — (55,335 ) 31,387,511

International Value 5,855,182 112,575 (1,294,026 ) 4,673,731 — — (2,269,834 ) 64,263,806

International Value Equity 3,976,094 121,457 (476,181 ) 3,621,370 — — (684,120 ) 25,820,365

Investment Quality Bond 11,724,472 450,293 (615,482 ) 11,559,283 1,200,836 — (161,493 ) 144,259,849

Mid Cap Stock 3,523,589 46,664 (273,557 ) 3,296,696 — — (719,986 ) 59,208,656

Mid Value 5,151,677 69,784 (783,156 ) 4,438,305 — — (1,383,805 ) 67,595,383

Natural Resources 3,228,558 — (416,670 ) 2,811,888 — — (5,014,687 ) 31,493,142

Real Estate Equity 1,911,565 87,014 (274,922 ) 1,723,657 — — 167,534 20,942,432

Real Return Bond 8,365,450 4,166,084 (449,964 ) 12,081,570 248,512 — (338,807 ) 136,400,924

Redwood 3,263,088 28,009 (147,061 ) 3,144,036 — — (42,784 ) 31,597,562

Seaport 1,042,539 43,775 — 1,086,314 — — — 11,384,572

Short Duration Credit Opportunities 19,731,688 395,886 (1,049,239 ) 19,078,335 3,281,625 — (1,037,409 ) 181,244,184

Short Term Government Income — 1,268,477 (13,662 ) 1,254,815 42,341 — 137 12,146,611

Small Cap Growth 1,733,623 78,546 (145,130 ) 1,667,039 — — (424,163 ) 12,386,098

Small Cap Value 1,030,384 10,015 (139,306 ) 901,093 — — (174,753 ) 17,346,033

Small Company Growth 725,312 3,167 (73,606 ) 654,873 — — (113,716 ) 11,420,991

Small Company Value 537,006 2,343 (75,296 ) 464,053 — — 466 12,315,963

Spectrum Income 14,300,084 446,906 (1,203,688 ) 13,543,302 2,247,868 — (79,441 ) 142,881,837

Strategic Growth 5,265,484 17,624 (275,031 ) 5,008,077 — — (79,541 ) 77,575,112

Strategic Income Opportunities 21,522,988 827,005 (1,323,791 ) 21,026,202 2,962,368 — (759,601 ) 222,877,739

Total Return 17,691,163 1,505,541 (600,009 ) 18,596,695 1,889,960 — (151,185 ) 253,658,926

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 55

Dividends and distributions

Portfolio Beginning
share
amount Shares
purchased Shares
sold Ending
share
amount Income
distributions
received Capital gain
distributions
received Realized
gain (loss) Ending
value

U.S. Equity 8,036,595 12,619 (525,527 ) 7,523,687 — — (199,492 ) 76,816,841

U.S. High Yield Bond 3,968,403 745,689 (281,334 ) 4,432,758 1,359,431 — (438,301 ) 47,297,524

$38,402,284 — ($46,961,961 ) $4,189,692,437

Lifestyle Conservative Portfolio

Absolute Return Currency 9,814,105 982,983 (1,622,715 ) 9,174,373 — — ($478,557 ) $86,239,110

Active Bond 37,203,864 1,944,549 (1,140,938 ) 38,007,475 $5,056,774 — (270,581 ) 388,056,321

Alpha Opportunities 3,243,367 189,380 (420,812 ) 3,011,935 — — (1,313,560 ) 31,986,751

Asia Pacific Total Return Bond 7,067,245 27,260 (536,022 ) 6,558,483 — — (498,829 ) 62,108,836

Blue Chip Growth 1,147,577 57,664 (136,741 ) 1,068,500 — — (230,048 ) 32,760,196

Capital Appreciation 482,213 36,432 (64,825 ) 453,820 — — (159,493 ) 7,115,895

Capital Appreciation Value 8,781,970 — (1,447,708 ) 7,334,262 — — (940,547 ) 83,097,190

Core Bond 11,742,613 1,372,066 (467,713 ) 12,646,966 1,180,280 — (18,922 ) 169,469,347

Core High Yield 4,995,351 193,632 (353,432 ) 4,835,551 1,708,570 — (708,479 ) 44,777,202

Emerging Markets 2,366,587 — (803,554 ) 1,563,033 — — (581,403 ) 14,082,930

Emerging Markets Debt 9,432,974 291,447 (980,606 ) 8,743,815 2,286,788 — (1,258,049 ) 81,754,672

Emerging Markets Equity 553,465 686,334 — 1,239,799 — — — 10,947,421

Enduring Assets 6,354,072 143,735 (1,334,354 ) 5,163,453 680,750 — 801,075 58,398,650

Equity Income 2,496,572 39,554 (414,558 ) 2,121,568 409,247 — 1,245,404 37,785,130

Floating Rate Income 37,338,851 931,428 (9,000,454 ) 29,269,825 7,593,340 — (12,397,518 ) 244,695,738

Focused High Yield — 1,960,323 (229,700 ) 1,730,623 107,255 — 407 5,745,669

Fundamental Global Franchise 1,907,262 16,511 (246,924 ) 1,676,849 — — (136,352 ) 21,882,875

Fundamental Large Cap Value 3,071,320 216,172 (430,102 ) 2,857,390 — — (909,990 ) 34,688,716

Global Absolute Return Strategies 12,415,179 1,103,496 (690,252 ) 12,828,423 — — (826,699 ) 127,514,522

Global Bond 8,649,553 147,741 (915,590 ) 7,881,704 — — 296,860 101,989,246

Global Equity 3,302,239 77,683 (495,578 ) 2,884,344 — — (543,832 ) 30,199,084

Global Income 3,043,932 94,896 (261,498 ) 2,877,330 830,666 — (287,988 ) 26,471,440

Global Real Estate 1,779,034 43,792 (362,941 ) 1,459,885 — — 1,509,956 14,598,845

Global Shareholder Yield 2,547,137 57,017 (451,166 ) 2,152,988 487,950 — (450,724 ) 22,950,849

Global Short Duration Credit 3,144,654 93,444 (202,651 ) 3,035,447 804,002 — (299,421 ) 26,863,706

High Yield 1,479,743 715,556 (192,264 ) 2,003,035 415,667 — (81,093 ) 15,543,553

International Core 1,143,341 91,560 (169,264 ) 1,065,637 — — (980,901 ) 29,752,573

International Growth Stock 3,025,467 142,610 (447,565 ) 2,720,512 — — (707,459 ) 32,918,199

International Value 3,340,357 299,809 (772,849 ) 2,867,317 — — (801,710 ) 39,425,610

Investment Quality Bond 12,648,163 182,915 (708,173 ) 12,122,905 1,256,157 — (222,798 ) 151,293,855

Mid Cap Stock 1,341,963 116,994 (228,541 ) 1,230,416 — — (801,655 ) 22,098,263

Mid Value 1,280,892 28,670 (270,730 ) 1,038,832 — — (45,126 ) 15,821,409

Natural Resources 1,287,303 — — 1,287,303 — — — 14,417,792

Real Estate Equity 1,463,293 59,401 (321,143 ) 1,201,551 — — 924,848 14,598,845

Real Return Bond 10,657,156 4,449,238 (373,178 ) 14,733,216 301,626 — (645,850 ) 166,338,008

Redwood 1,913,958 7,844 (217,060 ) 1,704,742 — — (45,667 ) 17,132,662

Seaport 532,039 7,503 — 539,542 — — — 5,654,403

Short Duration Credit Opportunities 16,969,244 415,217 (632,280 ) 16,752,181 2,859,715 — (485,595 ) 159,145,720

Short Term Government Income 13,612,593 2,266,629 (353,702 ) 15,525,520 657,231 — (146,542 ) 150,287,038

Small Cap Growth 990,499 198,021 (211,814 ) 976,706 — — (431,626 ) 7,256,929

Small Cap Value 261,479 14,064 (50,577 ) 224,966 — — (49,828 ) 4,330,601

Small Company Value 135,481 6,429 (26,743 ) 115,167 — — 7,720 3,056,525

Spectrum Income 12,379,376 389,371 (812,990 ) 11,955,757 1,972,244 — (62,417 ) 126,133,239

Strategic Growth 528,290 6,760 (63,420 ) 471,630 — — (32,258 ) 7,305,549

Strategic Income Opportunities 18,616,274 678,240 (748,520 ) 18,545,994 2,594,952 — (295,217 ) 196,587,541

Total Return 19,220,456 1,371,638 (713,480 ) 19,878,614 2,003,443 — (295,323 ) 271,144,295

U.S. Equity 4,033,429 7,315 (538,776 ) 3,501,968 — — (27,798 ) 35,755,095

U.S. High Yield Bond 1,316,429 609,753 (103,373 ) 1,822,809 535,729 — 14,630 19,449,371

$33,742,386 — ($23,668,955 ) $3,271,627,416

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 56

EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES

This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Funds II (the Trust) of the Advisory Agreement (the Advisory Agreement) and each Subadvisory Agreement (collectively, the Subadvisory Agreements) with respect to each of the portfolios of the Trust included in this report (the Funds). The Advisory and Subadvisory Agreements are collectively referred to as the Agreements. Prior to the June 21-23, 2016 in-person meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at an in-person meeting held on May 24-25, 2016.

Approval of Advisory and Subadvisory Agreements

At in-person meetings held on June 21-23, 2016, the Board, including the Trustees who are not considered to be interested persons of the Trust under the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees), reapproved for an annual period, the continuation of the Advisory Agreement between the Trust and the Advisor and the applicable Subadvisory Agreements between the Advisor and the sub-advisers (each, a Subadvisor and collectively, the Subadvisors) with respect to each of the Funds in this report.

In considering the Advisory Agreement and the Subadvisory Agreements with respect to each Fund, the Board received in advance of the meetings a variety of materials relating to each Fund, the Advisor and each Subadvisor, including comparative performance, fee and expense information for peer groups of similar mutual funds prepared by an independent third-party provider of mutual fund data; performance information for the Funds' benchmark indices; and, with respect to each Subadvisor, comparative performance information for comparably managed accounts, as applicable; and other information provided by the Advisor and the Subadvisors regarding the nature, extent and quality of services provided by the Advisor and the Subadvisors under their respective Agreements, as well as information regarding the Advisor's revenues and costs of providing services to the Funds and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreements are considered, particular focus is given to information concerning Fund performance, comparability of fees and total expenses, and profitability. However, the Board noted that the evaluation process with respect to the Advisor and the Subadvisors is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board at prior meetings with respect to the services provided by the Advisor and the Subadvisors to the Funds, including quarterly performance reports prepared by management containing reviews of investment results, and periodic presentations from the Subadvisors with respect to the Funds they manage. The Board noted the affiliation of the Subadvisors with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the non-advisory services, if any, to be provided to the Funds by the Advisor's affiliates, including distribution services.

Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.

Approval of Advisory Agreement

In approving the Advisory Agreement with respect to each Fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets and the industry) and does not treat any single factor as determinative, and each Trustee may attribute different weights to different factors. The Board's conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board's ongoing regular review of Fund performance and operations throughout the year.

Nature, Extent and Quality of Services. Among the information received by the Board from the Advisor relating to the nature, extent and quality of services provided to the Funds, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor's compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust's Chief Compliance Officer (CCO) regarding the Funds' compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board also considered the Advisor's risk management processes. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the Funds, including but not limited to, general supervision of and coordination of the services provided by the Subadvisors, and is also responsible for monitoring and reviewing the activities of the Subadvisors and other third-party service providers.

In considering the nature, extent and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor's management and the quality of the performance of the Advisor's duties, through Board meetings, discussions and reports during the preceding year and through each Trustee's experience as a Trustee of the Trust and of the other trusts in the complex.

In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:

(a) the skills and competency with which the Advisor has in the past managed the Trust's affairs and its subadvisory relationships, the Advisor's oversight and monitoring of the Subadvisors' investment performance and compliance programs, such as the Subadvisors' compliance with fund policies and objectives, review of brokerage matters including with respect to trade allocation and best execution, and the Advisor's timeliness in responding to performance issues;

(b) the background, qualifications and skills of the Advisor's personnel;

(c) the Advisor's compliance policies and procedures and its responsiveness to regulatory changes and mutual fund industry developments;

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 57

(d) the Advisor's administrative capabilities, including its ability to supervise the other service providers for the Funds;

(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the Funds; and

(f) the Advisor's reputation and experience in serving as an investment adviser to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.

The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the Funds.

Investment Performance. In considering each Fund's performance, the Board noted that it reviews at its regularly scheduled meetings information about the Funds' performance results. In connection with the consideration of the Advisory Agreement, the Board:

(a) reviewed information prepared by management regarding the Funds' performance;

(b) considered the comparative performance of each Fund's respective benchmark;

(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of mutual fund data; and

(d) took into account the Advisor's analysis of each Fund's performance and its plans and recommendations regarding the Trust's subadvisory arrangements generally and with respect to particular Funds.

The Board concluded that the performance of each of the Funds has been in line with or outperformed the historical performance of comparable funds, with certain exceptions noted in Appendix A, and also reviewed Fund performance against each Fund's respective benchmarks. The Board concluded that such performance is being monitored and reasonably addressed.

Fees and Expenses. The Board reviewed comparative information prepared by an independent third-party provider of mutual fund data including, among other data, each Fund's contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the Fund. The Board considered each Fund's ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the Fund's ranking within broader groups of funds. In comparing each Fund's contractual and net management fees to that of comparable funds, the Board noted that such fee includes both advisory and administrative costs.

The Board took into account management's discussion with respect to the advisory/subadvisory fee structure, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fees. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to the Funds. The Board also noted that the Advisor pays the subadvisory fees of the Funds. In addition, the Board noted that the Advisor effected or continued advisory fee reductions in the past year with respect to the Funds. The Board also took into account that management had agreed to implement an overall fee waiver across the complex, which is discussed further below. The Board also noted management's discussion of the Funds' expenses, as well as certain actions taken over the past several years to reduce the Funds' operating expenses. The Board reviewed information provided by the Advisor concerning investment advisory fees charged to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered any differences between the Advisor's and a Subadvisor's services to a Fund and the services they provide to other such comparable clients or funds. The Board concluded that the advisory fee paid with respect to each of the Funds is reasonable.

In addition, the Trustees reviewed the advisory fee to be paid to the Advisor for each Fund, each of which is a fund of funds, and concluded that the advisory fee to be paid to the Advisor with respect to each Fund is based on services provided that are in addition to, rather than duplicative of, the services provided pursuant to the advisory agreements for the underlying portfolios of the Fund and that the additional services are necessary because of the differences between the investment policies, strategies and techniques of a Fund and those of its underlying portfolios.

Profitability/Indirect Benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates (including the Subadvisors which are affiliated with the Advisor) from the Advisor's relationship with the Trust, the Board:

(a) reviewed financial information of the Advisor;

(b) reviewed and considered (i) information presented by the Advisor regarding the net profitability to the Advisor and its affiliates, of each Fund;

(c) received and reviewed profitability information with respect to the John Hancock fund complex as a whole;

(d) received information with respect to the Advisor's allocation methodologies used in preparing the profitability data;

(e) considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain Funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability analysis reviewed by the Board;

(f) considered that the Advisor also provides administrative services to the Funds on a cost basis pursuant to an administrative services agreement;

(g) noted that the Funds' Subadvisors are affiliates of the Advisor;

(h) noted that affiliates of the Advisor provide transfer agency services and distribution services to the Funds, and that the Trust's distributor also receives Rule 12b-1 payments to support distribution of the products;

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 58

(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the Funds;

(j) noted that the subadvisory fees for the Funds are paid by the Advisor;

(k) with respect to each Fund, the Board noted that the advisory fee is in addition to the fees received by the Advisor and its affiliates with regard to the underlying portfolios in which the Funds may invest; and

(l) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to each Fund and the entrepreneurial risk that it assumes as Advisor.

Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates (including Subadvisors that are affiliated with the Advisor), from their relationship with each Fund was reasonable and not excessive.

Economies of Scale. In considering the extent to which economies of scale would be realized as a Fund grows and whether fee levels reflect these economies of scale for the benefit of Fund shareholders, the Board:

(a)
considered that with respect to the John Hancock underlying portfolios in which the Funds invest, the Advisor has agreed to waive a portion of its management fee for such funds and for each of the other John Hancock funds in the complex (except as discussed below) (the Participating Portfolios) or otherwise reimburse the expenses of the Participating Portfolios (the Reimbursement). This waiver is based on upon the aggregate net assets of all the Participating Portfolios.

(The Funds that are not Participating Portfolios as of the date of this annual report are each of the Funds and the funds of funds of the Trust and John Hancock Variable Insurance Trust and John Hancock Collateral Trust. These funds of funds also benefit from such overall management fee waiver through their investment in underlying portfolios that include certain of the Participating Portfolios, which are subject to the Reimbursement.

(b) reviewed the Trust's advisory fee structure and concluded that (i) the Funds' fee structures contain breakpoints at the advisory fee level and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the Funds to benefit from economies of scale if those Funds grow. The Board also took into account management's discussion of the Funds' advisory fee structure; and

(c) the Board also considered the effect of the Funds' growth in size on their performance and fees. The Board also noted that if the Funds' assets increase over time, the Funds may realize other economies of scale.

Approval of Subadvisory Agreements

In making its determination with respect to approval of the Subadvisory Agreements, the Board reviewed:

(1) information relating to each Subadvisor's business, including current subadvisory services to the Trust (and other funds in the John Hancock family of funds);

(2) the historical and current performance of each Fund and comparative performance information relating to the Fund's benchmark and comparable funds; and

(3) the subadvisory fee for each Fund, including any breakpoints, and comparative fee information, where available, prepared by an independent third party provider of mutual fund data.

Nature, Extent and Quality of Services. With respect to the services provided by each of the Subadvisors with respect to each Fund, the Board received information provided to the Board by each Subadvisor, including each Subadvisor's Form ADV, as well as took into account information presented throughout the past year. The Board considered each Subadvisor's current level of staffing and its overall resources, as well as received information relating to a Subadvisor's compensation program. The Board reviewed each Subadvisor's history and investment experience, as well as information regarding the qualifications, background and responsibilities of the Subadvisor's investment and compliance personnel who provide services to the Funds. The Board also considered, among other things, the Subadvisor's compliance program and any disciplinary history. The Board also considered the Subadvisor's risk assessment and monitoring process. The Board reviewed each Subadvisor's regulatory history, including whether it was currently involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of each Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the CCO and his staff conduct regular, periodic compliance reviews with each of the Subadvisors and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisors and procedures reasonably designed by them to assure compliance with the federal securities laws. The Board also took into account the financial condition of each Subadvisor.

The Board considered each Subadvisor's investment process and philosophy. The Board took into account that each Subadvisor's responsibilities include the development and maintenance of an investment program for the applicable Fund which is consistent with the Fund's investment objectives, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to each Subadvisor's brokerage policies and practices, including with respect to best execution and soft dollars.

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 59

Subadvisor Compensation. In considering the cost of services to be provided by each Subadvisor and the profitability to that Subadvisor of its relationship with the Fund, the Board noted that the fees under the Subadvisory Agreements are paid by the Advisor and not the Funds. The Board also noted that the Subadvisors are affiliated with the Advisor and took into account potential conflicts of interests the Advisor might have in connection with the Subadvisory Agreements.

In addition, the Board considered other potential indirect benefits that the Subadvisors and their affiliates may receive from the Subadvisor's relationship with the Fund, such as the opportunity to provide advisory services to additional portfolios of the Trusts and reputational benefits.

Subadvisory Fees. The Board considered that the Fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to each Subadvisor. As noted above, the Board also considered, if available, each Fund's sub-advisory fees as compared to similarly situated investment companies deemed to be comparable to the Fund as included in the report prepared by the independent third party provider of mutual fund data. The Board also took into account the sub-advisory fees paid by the Advisor to fees charged by each Fund's Subadvisor to manage other sub-advised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.

Subadvisor Performance. As noted above, the Board considered each Fund's performance as compared to the Fund's respective peer group and benchmark and noted that the Board reviews information about the Fund's performance results at its regularly scheduled meetings. The Board noted the Advisor's expertise and resources in monitoring the performance, investment style, and risk-adjusted performance of each Subadvisor. The Board was mindful of the Advisor's focus on each Subadvisor's performance. The Board also noted each Subadvisor's long-term performance record for similar accounts, as applicable.

The Board's decision to approve the Subadvisory Agreement with respect to each Fund was based on a number of determinations, including the following:

(1) Each Subadvisor has extensive experience and demonstrated skills as a manager;

(2) Although not without variation, the performance of each Fund managed by a Subadvisor generally has been in line with or outperformed the historical performance of comparable funds, with the exceptions noted in Appendix A, with respect to such exceptions, the Board concluded that performance is being monitored and reasonably addressed;

(3) The subadvisory fees are reasonable in relation to the level and quality of services being provided; and

(4) The subadvisory fees are paid by the Advisor and not the Funds and the advisory fee for each of the Funds contains breakpoints that permit shareholders to benefit from economies of scale.

In addition, in the case of each Fund, the Trustees reviewed the subadvisory fee to be paid to the Subadvisors for the Fund and concluded that the subadvisory fee to be paid to the Subadvisor with respect to each Fund is based on services provided that are in addition to, rather than duplicative of, the services provided pursuant to the subadvisory agreements for the underlying portfolios of the Fund and that the additional services are necessary because of the differences between the investment policies, strategies and techniques of a Fund and those of its underlying portfolios.

Additional information relating to each Fund's fees and expenses and performance that the Board considered in approving the Advisory Agreement and Subadvisory Agreement for a particular Fund is set forth in Appendix A.

* * *

Based on their evaluation of all factors that they deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and each of the Subadvisory Agreements with respect to each Fund would be in the best interest of each of the respective Funds and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement with respect to each Fund for an additional one-year period.

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 60

APPENDIX A

PORTFOLIO (SUBADVISER) Performance as of 12.31.2015 Fees and Expenses Comments

Lifestyle Aggressive Portfolio

(Manulife Asset Management
(U.S.))

(Manulife Asset Management
(North America))

Benchmark Index - The Fund outperformed for the one-year period and underperformed for the three- and five-year periods.

Broadridge Category - The Fund outperformed the average for the one-, three- and five-year periods.

Subadviser fee comparative data not provided due to limited size of Broadridge peer group for this purpose.

Net management fees for this Fund are equal to the peer group median.

Total expenses for this Fund are lower than the peer group median.

The Board took into account management's discussion of the factors that contributed to the Fund's three- and five-year performance relative to the benchmark index.

The Board noted the Fund's favorable performance relative to the benchmark index for the one-year period and to the peer group average for the one-, three- and five-year periods.

Lifestyle Balanced Portfolio

(Manulife Asset Management
(U.S.))

(Manulife Asset Management
(North America))

Benchmark Index - The Fund underperformed for the one-, three- and five-year periods.

Lipper Category - The Fund outperformed the average for the one- three- and five-year periods.

Subadviser fee comparative data not provided due to limited size of Broadridge peer group average for this purpose.

Net management fees for this Fund are equal to the peer group median.

Total expenses for this Fund are lower than the peer group median.

The Board took into account management's discussion of the factors that contributed to the Fund's one-, three- and five-year performance relative to the benchmark index.

The Board noted the Fund's favorable performance relative to the peer group average for the one-, three- and five-year periods.

Lifestyle Conservative Portfolio

(Manulife Asset Management
(U.S.))

(Manulife Asset Management
(North America))

Benchmark Index - The Fund underperformed for the one-, three-, and five-year periods.

Broadridge Category - The Fund outperformed the average for the one- and five-year periods and underperformed the average for the three-year period.

Subadviser fees for this Fund are higher than the peer group median.

Net management fees for this Fund are higher than the peer group median.

Total expenses for this Fund are lower than the peer group median.

The Board took into account management's discussion of the factors that contributed to the Fund's one-, three- and five-year performance relative to the benchmark index and to the peer group average for the three-year period.

The Board noted the Fund's favorable performance relative to the peer group average for the one- and five-year periods.

The Board noted the Fund's favorable performance relative to the Morningstar peer group average for the year-to-date period ended April 30, 2016.

The Board took into account management's discussion of the Fund's expenses.

Lifestyle Growth Portfolio

(Manulife Asset Management
(U.S.))

(Manulife Asset Management
(North America))

Benchmark Index - The Fund outperformed for the one-year period and underperformed for the three- and five-year periods.

Broadridge Category - The Fund outperformed the average for the one-, three- and five-year period.

Subadviser fee comparative data not provided due to limited size of Broadridge peer group for this purpose.

Net management fees for this Fund are lower than the peer group median.

Total expenses for this Fund are lower than the peer group median.

The Board took into account management's discussion of the factors that contributed to the Fund's three- and five-year performance relative to the benchmark index.

The Board noted the Fund's favorable performance relative to the peer group average for the one-, three- and five-year periods.

Lifestyle Moderate Portfolio

(Manulife Asset Management
(U.S.))

(Manulife Asset Management
(North America))

Benchmark Index - The Fund underperformed for the one-, three- and five-year periods.

Broadridge Category - The Fund outperformed the average for the one-year period and underperformed the average for the three- and five-year periods.

Subadviser fee comparative data not provided due to limited size of Broadridge peer group for this purpose.

Net management fees for this Fund are lower than the peer group median.

Total expenses for this Fund are lower than the peer group median.

The Board took into account management's discussion of the factors that contributed to the Fund's one- three- and five-year performance relative to the benchmark index and to the peer group average for the three- and five-year periods.

The Board noted the Fund's favorable performance relative to the peer group average for the one-year period.

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 61

More information

Trustees

James M. Oates, 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
Hassell H. McClellan
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

Subadvisors

John Hancock Asset Management a division of Manulife Asset Management (US) LLC
John Hancock Asset Management a division of Manulife Asset Management (North America) Limited

Principal distributor

John Hancock Funds, LLC

Custodian

State Street Bank and Trust Company

Transfer agent

John Hancock Signature Services, Inc.

Legal counsel

K&L Gates LLP

*Member of the Audit Committee
†Non-Independent Trustee

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

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 62

John Hancock family of funds

DOMESTIC EQUITY FUNDS

Balanced

Blue Chip Growth

Classic Value

Disciplined Value

Disciplined Value Mid Cap

Equity Income

ESG All Cap Core

ESG Large Cap Core

Fundamental All Cap Core

Fundamental Large Cap Core

Fundamental Large Cap Value

New Opportunities

Small Cap Value

Small Company

Strategic Growth

U.S. Equity

U.S. Global Leaders Growth

Value Equity

GLOBAL AND INTERNATIONAL EQUITY FUNDS

Disciplined Value International

Emerging Markets

Emerging Markets Equity

Global Equity

Global Shareholder Yield

Greater China Opportunities

International Core

International Growth

International Small Company

International Value Equity

INCOME FUNDS

Bond

California Tax-Free Income

Core High Yield

Emerging Markets Debt

Floating Rate Income

Focused High Yield

Global Income

Government Income

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.

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 63

ASSET ALLOCATION

Income Allocation Fund

Lifestyle Aggressive Portfolio

Lifestyle Balanced Portfolio

Lifestyle Conservative Portfolio

Lifestyle Growth Portfolio

Lifestyle Moderate Portfolio

Retirement Choices Portfolios

Retirement Living Portfolios

Retirement Living II Portfolios

EXCHANGE-TRADED FUNDS

John Hancock Multifactor Consumer Discretionary ETF

John Hancock Multifactor Consumer Staples 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

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.

SEMIANNUAL REPORT | JOHN HANCOCK LIFESTYLE PORTFOLIOS 64

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 build funds based on investor needs, then search the world to find proven
portfolio teams with specialized expertise in those strategies. As a manager of
managers, we apply vigorous oversight to ensure that 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 n 800-225-5291 n jhinvestments.com

This report is for the information of the shareholders of John Hancock Lifestyle Portfolios. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.

MF303818 LSSA 6/16
8/16

ITEM 2. CODE OF ETHICS.

(a)

Not Applicable

(b)

Not Applicable

(c)

Not Applicable

(d)

Not Applicable

(e)

Not Applicable

(f)

Not Applicable

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not Applicable

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a)

Not Applicable

(b)

Not Applicable

(c)

Not Applicable

(d)

Not Applicable

(e)

Not Applicable

(f)

Not Applicable

(g)

Not Applicable

(h)

Not Applicable

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS

Not Applicable.

ITEM 6. SCHEDULE OF INVESTMENTS.

(a)

Included with Item 1.

(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. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANIES AND AFFILIATED PURCHASERS.

Not Applicable.

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

Not Applicable.

ITEM 11. CONTROLS AND PROCEDURES.

(a)

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. The Registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in this Form N-CSR is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such disclosure controls and procedures include controls and procedures designed to ensure that such information is accumulated and communicated to the Registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

Within 90 days prior to the filing date of this Form N-CSR, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant's management, including the Registrant's principal executive

officer and the Registrant's principal financial officer, of the effectiveness of the design and operation of the Registrant's disclosure controls and procedures relating to information required to be disclosed on Form N-CSR. Based on such evaluation, the Registrant's principal executive officer and principal financial officer concluded that the Registrant's disclosure controls and procedures are operating effectively to ensure that:

(i) information required to be disclosed in this Form N-CSR is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission, and

(ii) information is accumulated and communicated to the Registrant’s management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

(b) CHANGE IN REGISTRANT’S INTERNAL CONTROL: Not Applicable.

ITEM 12. EXHIBITS.

(a)(1) Not applicable

(a)(2)(i) CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER.

(a)(2)(ii) CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER.

(b) CERTIFICATION PURSUANT TO Rule 30a-2(b) OF THE INVESTMENT COMPANY ACT OF 1940

(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 II

/s/ Andrew Arnott

Andrew Arnott

President

Date: August 18, 2016

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.

/s/ Andrew Arnott

Andrew Arnott

President

Date: August 18, 2016

/s/ Charles A. Rizzo

Charles A. Rizzo

Chief Financial Officer

Date: August 18, 2016


	Robert M. Boyda On the portfolio since 2010 Investing since 1979
	Marcelle Daher, CFA On the portfolio since 2013 Investing since 1999
	Nathan W. Thooft, CFA On the portfolio since 2013 Investing since 2000


Equity		86.1
	U.S. Large Cap	35.4
	International Large Cap	14.8
	Large Blend	9.0
	U.S. Mid Cap	8.7
	Emerging Markets	7.8
	International Small Cap	4.7
	U.S. Small Cap	4.7
	Global Large Cap	1.0
Alternative and specialty		13.9
	Technical Opportunities	2.8
	Science & Technology	2.5
	Natural Resources	2.0
	Financial Industries	1.7
	Global Focused Strategies	1.2
	Real Estate	1.0
	Currency	0.8
	Redwood	0.7
	Health Sciences	0.7
	Seaport	0.5


	Class A	Class B	Class C	Class I^1,2	Class R1¹	Class R2^1,2	Class R3¹	Class R4¹	Class R5¹	Class R6^1,2	Class 1¹	Index 1³	Index 2³	Index 3³
Inception	10-18-05	10-18-05	10-18-05	10-15-05	9-18-06	10-18-05	10-18-05	10-18-05	10-18-05	10-15-05	10-15-05	10-18-05	10-18-05	10-18-05
Average annual total returns
1 year	-9.87%	-10.19%	-6.73%	-4.90%	-5.49%	-5.26%	-5.41%	-5.06%	-4.85%	-4.79%	-4.79%	3.99%	-9.72%	-1.56%
5 year	4.80%	4.74%	5.13%	5.47%	5.43%	5.63%	5.53%	5.91%	6.18%	6.28%	6.32%	12.10%	2.15%	8.24%
10 year	3.60%	3.50%	3.38%	3.65%	—	3.40%	3.84%	4.17%	4.47%	3.49%	4.60%	7.42%	2.05%	5.94%
Since inception	—	—	—	—	3.77%	—	—	—	—	—	—	—	—	—
Cumulative returns
6 months	-4.86%	-5.19%	-1.27%	0.20%	-0.07%	0.07%	0.00%	0.20%	0.27%	0.27%	0.27%	3.84%	-4.04%	2.34%
5 year	26.41%	26.05%	28.43%	30.48%	30.26%	31.48%	30.87%	33.24%	34.96%	35.61%	35.88%	77.02%	11.20%	48.57%
10 year	42.47%	41.06%	39.50%	43.06%	—	39.70%	45.76%	50.45%	54.82%	40.88%	56.81%	104.65%	22.53%	78.01%
Since inception	—	—	—	—	43.72%	—	—	—	—	—	—	—	—	—


	Class A	Class B	Class C	Class I	Class R1	Class R2	Class R3	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.41	2.11	2.11	1.09	1.75	1.50	1.65	1.35	1.05	1.00	1.03
Net (%)	1.40	2.11	2.11	1.09	1.75	1.50	1.65	1.25	1.05	0.98	1.03


Equity		69.6
	U.S. Large Cap	30.8
	International Large Cap	11.7
	Large Blend	7.2
	U.S. Mid Cap	6.9
	Emerging Markets	5.1
	International Small Cap	3.7
	U.S. Small Cap	3.1
	Global Large Cap	1.1
Fixed income		17.0
	Multi-Sector Bond	5.7
	Intermediate Bond	4.3
	Bank Loan	2.3
	Global Bond	2.3
	High Yield Bond	1.2
	Treasury Inflation-Protected Securities	1.1
	Short-Term Bond	0.1
Alternative and specialty		13.4
	Global Absolute Return Strategies	2.2
	Technical Opportunities	2.2
	Science & Technology	2.0
	Currency	1.5
	Financial Industries	1.4
	Natural Resources	1.4
	Real Estate	1.0
	Redwood	0.8
	Health Sciences	0.6
	Seaport	0.3


Equity		50.8
	U.S. Large Cap	23.5
	International Large Cap	8.4
	Large Blend	5.4
	U.S. Mid Cap	4.8
	Emerging Markets	3.0
	International Small Cap	2.4
	U.S. Small Cap	2.3
	Global Large Cap	1.0
Fixed income		37.2
	Multi-Sector Bond	12.1
	Intermediate Bond	11.2
	Bank Loan	4.7
	Global Bond	4.6
	High Yield Bond	2.3
	Treasury Inflation-Protected Securities	2.1
	Short-Term Bond	0.2
Alternative and specialty		12.0
	Global Absolute Return Strategies	2.4
	Science & Technology	1.7
	Currency	1.6
	Real Estate	1.2
	Technical Opportunities	1.2
	Financial Industries	1.2
	Natural Resources	1.1
	Redwood	0.8
	Health Sciences	0.5
	Seaport	0.3


Equity		35.7
	U.S. Large Cap	18.1
	International Large Cap	5.5
	Large Blend	3.6
	U.S. Mid Cap	3.0
	Emerging Markets	1.7
	International Small Cap	1.5
	U.S. Small Cap	1.3
	Global Large Cap	1.0
Fixed income		56.6
	Intermediate Bond	21.9
	Multi-Sector Bond	14.3
	Global Bond	6.9
	Bank Loan	6.5
	High Yield Bond	3.4
	Treasury Inflation-Protected Securities	3.3
	Short-Term Bond	0.3
Alternative and specialty		7.7
	Global Absolute Return Strategies	2.5
	Currency	1.8
	Real Estate	1.0
	Redwood	0.8
	Natural Resources	0.8
	Enduring Equity	0.5
	Seaport	0.3


Equity		16.1
	U.S. Large Cap	7.3
	International Large Cap	4.0
	Large Blend	1.7
	U.S. Mid Cap	1.2
	Emerging Markets	0.8
	Global Large Cap	0.7
	U.S. Small Cap	0.4
Fixed income		73.6
	Intermediate Bond	30.0
	Multi-Sector Bond	15.5
	Global Bond	8.3
	Bank Loan	7.5
	Treasury Inflation-Protected Securities	5.1
	Short-Term Bond	4.6
	High Yield Bond	2.6
Alternative and specialty		10.3
	Global Absolute Return Strategies	3.9
	Currency	2.6
	Enduring Equity	1.8
	Real Estate	0.9
	Redwood	0.5
	Natural Resources	0.4
	Seaport	0.2


		Beginning account value 1/1/2016	Ending account value 6/30/2016	Expenses paid during period¹ 1/1/2016 - 6/30/2016	Annualized expense ratio²
Lifestyle Aggressive Portfolio
Class A	Actual	$1,000.00	$1,001.30	$2.34	0.47%
Class A	Hypothetical (5% annualized return before expenses)	1,000.00	1,022.50	2.36	0.47%
Class B	Actual	1,000.00	998.00	5.91	1.19%
Class B	Hypothetical (5% annualized return before expenses)	1,000.00	1,018.90	5.97	1.19%
Class C	Actual	1,000.00	997.30	5.91	1.19%
Class C	Hypothetical (5% annualized return before expenses)	1,000.00	1,018.90	5.97	1.19%
Class I	Actual	1,000.00	1,002.00	0.85	0.17%
Class I	Hypothetical (5% annualized return before expenses)	1,000.00	1,024.00	0.86	0.17%
Class R1	Actual	1,000.00	999.30	3.98	0.80%
Class R1	Hypothetical (5% annualized return before expenses)	1,000.00	1,020.90	4.02	0.80%
Class R2	Actual	1,000.00	1,000.70	2.84	0.57%
Class R2	Hypothetical (5% annualized return before expenses)	1,000.00	1,022.00	2.87	0.57%
Class R3	Actual	1,000.00	1,000.00	3.63	0.73%
Class R3	Hypothetical (5% annualized return before expenses)	1,000.00	1,021.20	3.67	0.73%
Class R4	Actual	1,000.00	1,002.00	1.64	0.33%
Class R4	Hypothetical (5% annualized return before expenses)	1,000.00	1,023.20	1.66	0.33%
Class R5	Actual	1,000.00	1,002.70	0.65	0.13%
Class R5	Hypothetical (5% annualized return before expenses)	1,000.00	1,024.20	0.65	0.13%
Class R6	Actual	1,000.00	1,002.70	0.30	0.06%
Class R6	Hypothetical (5% annualized return before expenses)	1,000.00	1,024.60	0.30	0.06%
Class 1	Actual	1,000.00	1,002.70	0.55	0.11%
Class 1	Hypothetical (5% annualized return before expenses)	1,000.00	1,024.30	0.55	0.11%
Lifestyle Growth Portfolio
Class A	Actual	$1,000.00	$1,009.40	$2.35	0.47%
Class A	Hypothetical (5% annualized return before expenses)	1,000.00	1,022.50	2.36	0.47%
Class B	Actual	1,000.00	1,005.40	5.93	1.19%
Class B	Hypothetical (5% annualized return before expenses)	1,000.00	1,018.90	5.97	1.19%
Class C	Actual	1,000.00	1,005.40	5.93	1.19%
Class C	Hypothetical (5% annualized return before expenses)	1,000.00	1,018.90	5.97	1.19%
Class I	Actual	1,000.00	1,010.80	0.85	0.17%
Class I	Hypothetical (5% annualized return before expenses)	1,000.00	1,024.00	0.86	0.17%
Class R1	Actual	1,000.00	1,007.40	4.04	0.81%
Class R1	Hypothetical (5% annualized return before expenses)	1,000.00	1,020.80	4.07	0.81%
Class R2	Actual	1,000.00	1,008.80	2.85	0.57%
Class R2	Hypothetical (5% annualized return before expenses)	1,000.00	1,022.00	2.87	0.57%
Class R3	Actual	1,000.00	1,008.10	3.64	0.73%
Class R3	Hypothetical (5% annualized return before expenses)	1,000.00	1,021.20	3.67	0.73%
Class R4	Actual	1,000.00	1,010.10	1.60	0.32%
Class R4	Hypothetical (5% annualized return before expenses)	1,000.00	1,023.30	1.61	0.32%
Class R5	Actual	1,000.00	1,010.70	0.65	0.13%
Class R5	Hypothetical (5% annualized return before expenses)	1,000.00	1,024.20	0.65	0.13%
Class R6	Actual	1,000.00	1,011.50	0.30	0.06%
Class R6	Hypothetical (5% annualized return before expenses)	1,000.00	1,024.60	0.30	0.06%
Class 1	Actual	1,000.00	1,010.80	0.55	0.11%
Class 1	Hypothetical (5% annualized return before expenses)	1,000.00	1,024.30	0.55	0.11%
Class 5	Actual	1,000.00	1,011.50	0.30	0.06%
Class 5	Hypothetical (5% annualized return before expenses)	1,000.00	1,024.60	0.30	0.06%


¹	Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by the number of days in the period (182) and divided by 366 (to reflect the one-half year period).
²	The portfolios' expense ratios do not include fees and expenses indirectly incurred by the underlying funds whose expense ratios can vary based on the mix of underlying funds held by the portfolios. The range of expense ratios of the underlying funds held by the portfolios was as follows:


Period ended	Lifestyle Aggressive	Lifestyle Growth	Lifestyle Balanced	Lifestyle Moderate	Lifestyle Conservative
6-30-16	0.67%-3.39%	0.58%-3.39%	0.58%-3.39%	0.58%-3.39%	0.58%-3.39%


	Underlying Funds' Investment Managers
	Allianz Global Investors U.S. LLC						(Allianz)
	Baillie Gifford Overseas Ltd.						(Baillie Gifford)
	Barrow, Hanley, Mewhinney & Strauss, LLC						(Barrow Hanley)
	Boston Partners						(Boston Partners)
	Brandywine Asset Management, Inc.						(Brandywine)
	Declaration Management & Research LLC						(Declaration)
	Deutsche Investment Management Americas, Inc.						(Deutsche)
	Dimensional Fund Advisors LP						(DFA)
	Epoch Investment Partners, Inc.						(Epoch)
	First Quadrant, L.P.						(First Quadrant)
	Franklin Templeton Investments Corp.						(Franklin Templeton)
	Grantham, Mayo, Van Otterloo & Co. LLC						(GMO)
	Invesco Advisers, Inc.						(Invesco)
	Jennison Associates LLC						(Jennison)
	John Hancock Asset Management						(JHAM)
	Pacific Investment Management Company LLC						(PIMCO)
	QS Investors, LLC						(QS Investors)
	Standard Life Investments (Corporate Funds) Limited						(Standard Life)
	Stone Harbor Investment Partners LP						(Stone Harbor)
	T. Rowe Price Associates, Inc.						(T.Rowe Price)
	Templeton Investment Counsel, LLC						(Templeton)
	Wellington Management Company, LLP						(Wellington)
	Wells Capital Management, Incorporated						(Wells Capital)
	Western Asset Management Company						(WAMCO)


As of 6-30-16 (unaudited)
	Shares	Value
AFFILIATED INVESTMENT COMPANIES (G) - 100.0%
Equity - 86.1%
All Cap Core, Class NAV (QS Investors)	9,796,347	$116,674,491
Alpha Opportunities, Class NAV (Wellington)	21,352,203	226,760,400
Blue Chip Growth, Class NAV (T. Rowe Price)	6,125,915	187,820,566
Capital Appreciation, Class NAV (Jennison)	11,199,699	175,611,274
Capital Appreciation Value, Class NAV (T.Rowe Price)	16,686,946	189,063,100
Disciplined Value, Class NAV (Boston Partners)	5,352,561	93,295,130
Emerging Markets, Class NAV (DFA)	17,518,808	157,844,457
Emerging Markets Equity, Class NAV (JHAM) (A)(1)	16,540,840	146,055,616
Equity Income, Class NAV (T. Rowe Price)	11,259,936	200,539,460
Fundamental Global Franchise, Class NAV (JHAM) (A)(1)	3,050,295	39,806,353
Fundamental Large Cap Value, Class NAV (JHAM) (A)(1)	14,420,951	175,070,347
Global Equity, Class NAV (JHAM) (A)(1)	4,825,782	50,525,936
Global Shareholder Yield, Class NAV (Epoch)	3,339,831	35,602,595
Greater China Opportunities, Class NAV (JHAM) (A)(1)	641,400	11,250,160
International Core, Class NAV (GMO)	5,565,054	155,376,309
International Growth Opportunities, Class NAV (Baillie Gifford)	8,721,000	102,733,375
International Growth Stock, Class NAV (Invesco)	9,925,657	120,100,451
International Small Cap, Class NAV (Franklin Templeton)	5,660,272	94,922,769
International Small Company, Class NAV (DFA)	9,772,351	95,573,596
International Value, Class NAV (Templeton)	14,087,819	193,707,512
International Value Equity, Class NAV (JHAM) (A)(1)	11,738,961	83,698,793
Mid Cap Stock, Class NAV (Wellington)	9,306,900	167,151,922
Mid Value, Class NAV (T. Rowe Price)	8,572,490	130,559,018
New Opportunities, Class NAV (Brandywine/Invesco/DFA)	1,314,498	30,088,857
Small Cap Core, Class NAV (JHAM) (A)(1)	2,948,360	30,368,108
Small Cap Growth, Class NAV (Wellington)	4,291,236	31,883,887
Small Cap Value, Class NAV (Wellington)	2,090,181	40,235,993
Small Company Growth, Class NAV (Invesco)	1,654,145	28,848,288
Small Company Value, Class NAV (T. Rowe Price)	1,050,879	27,890,317
Strategic Growth, Class NAV (JHAM) (A)(1)	11,387,744	176,396,147
U.S. Equity, Class NAV (GMO)	7,008,902	71,560,893
Value, Class NAV (Invesco)	5,402,140	55,263,892
Value Equity, Class NAV (Barrow Hanley)	5,238,806	51,968,957
Alternative and specialty - 13.9%
Absolute Return Currency, Class NAV (First Quadrant) (I)	3,299,172	31,012,215
Financial Industries, Class NAV (JHAM) (A)(1)	4,519,908	69,561,381
Global Focused Strategies, Class NAV (Standard Life) (I)	4,866,791	47,597,213
Global Real Estate, Class NAV (Deutsche)	2,021,037	20,210,374
Health Sciences, Class NAV (T. Rowe Price)	5,135,122	28,294,526
Natural Resources, Class NAV (Jennison)	7,314,915	81,927,045
Real Estate Equity, Class NAV (T. Rowe Price)	1,663,405	20,210,374
Redwood, Class NAV (Boston Partners)	2,944,309	29,590,308


	Shares		Value
Equity - (continued)
Emerging Markets, Class NAV (DFA)	23,155,844		$208,634,153
Emerging Markets Equity, Class NAV (JHAM) (A)(1)	22,467,584		198,388,763
Equity Income, Class NAV (T. Rowe Price)	22,998,768		409,608,062
Fundamental Global Franchise, Class NAV (JHAM) (A)(1)	10,183,407		132,893,456
Fundamental Large Cap Value, Class NAV (JHAM) (A)(1)	25,786,098		313,043,225
Global Equity, Class NAV (JHAM) (A)(1)	13,494,916		141,291,773
Global Shareholder Yield, Class NAV (Epoch)	15,997,097		170,529,059
International Core, Class NAV (GMO)	9,705,425		270,975,461
International Growth Opportunities, Class NAV (Baillie Gifford)	14,076,616		165,822,539
International Growth Stock, Class NAV (Invesco)	17,922,685		216,864,489
International Small Cap, Class NAV (Franklin Templeton)	9,515,084		159,567,966
International Small Company, Class NAV (DFA)	16,447,634		160,857,860
International Value, Class NAV (Templeton)	25,483,089		350,392,472
International Value Equity, Class NAV (JHAM) (A)(1)	20,978,200		149,574,565
Mid Cap Stock, Class NAV (Wellington)	16,644,171		298,929,305
Mid Value, Class NAV (T. Rowe Price)	16,249,723		247,483,285
New Opportunities, Class NAV (Brandywine/Invesco/DFA)	2,062,860		47,218,868
Small Cap Core, Class NAV (JHAM) (A)(1)	4,686,367		48,269,582
Small Cap Growth, Class NAV (Wellington)	6,746,903		50,129,491
Small Cap Value, Class NAV (Wellington)	3,487,989		67,143,786
Small Company Growth, Class NAV (Invesco)	2,564,029		44,716,660
Small Company Value, Class NAV (T. Rowe Price)	1,797,806		47,713,768
Strategic Growth, Class NAV (JHAM) (A)(1)	21,219,282		328,686,675
U.S. Equity, Class NAV (GMO)	25,044,036		255,699,611
Value, Class NAV (Invesco)	9,973,381		102,027,685
Value Equity, Class NAV (Barrow Hanley)	12,294,764		121,964,057
Fixed income - 37.2%
Active Bond, Class NAV (JHAM/Declaration) (A)(1)	59,892,893		611,506,435
Asia Pacific Total Return Bond, Class NAV (JHAM) (A)(1)	14,743,807		139,623,856
Core Bond, Class NAV (Wells Capital)	18,974,899		254,263,643
Emerging Markets Debt, Class NAV (JHAM) (A)(1)	19,445,653		181,816,854
Floating Rate Income, Class NAV (WAMCO)	74,799,871		625,326,919
Focused High Yield, Class NAV (JHAM) (A)(1)	42,443,225		140,911,508
Global Bond, Class NAV (PIMCO)	12,057,933		156,029,659
Global Income, Class NAV (Stone Harbor)	14,378,280		132,280,178
Global Short Duration Credit, Class NAV (JHAM) (A)(1)	15,300,372		135,408,289
High Yield, Class NAV (WAMCO)	9,205,721		71,436,398
Investment Quality Bond, Class NAV (Wellington)	17,308,831		216,014,215
Real Return Bond, Class NAV (PIMCO)	25,266,095		285,254,212
Short Duration Credit Opportunities, Class NAV (Stone Harbor)	52,380,144		497,611,367
Short Term Government Income, Class NAV (JHAM) (A)(1)	3,363,277		32,556,524
Spectrum Income, Class NAV (T. Rowe Price)	34,508,929		364,069,204
Strategic Income Opportunities, Class NAV (JHAM) (A)(1)	58,956,376		624,937,583
Total Return, Class NAV (PIMCO)	31,390,170		428,161,924
U.S. High Yield Bond, Class NAV (Wells Capital)	9,690,620		$103,398,912
Alternative and specialty - 12.0%
Absolute Return Currency, Class NAV (First Quadrant) (I)	22,708,232		213,457,382
Financial Industries, Class NAV (JHAM) (A)(1)	10,425,626		160,450,385
Global Absolute Return Strategies, Class NAV (Standard Life)	32,004,358		318,123,315
Global Real Estate, Class NAV (Deutsche)	10,012,642		100,126,415
Health Sciences, Class NAV (T. Rowe Price)	12,120,577		66,784,378
Natural Resources, Class NAV (Jennison)	12,762,071		142,935,190
Real Estate Equity, Class NAV (T. Rowe Price)	5,493,905		66,750,943
Redwood, Class NAV (Boston Partners)	10,442,400		104,946,123
Science & Technology, Class NAV (T. Rowe Price/Allianz)	21,711,167		235,131,943
Seaport, Class NAV (Wellington)	3,724,049		39,028,030
Technical Opportunities, Class NAV (Wellington)	15,529,347		166,474,597
Total Investments (Lifestyle Balanced Portfolio) (Cost $12,149,705,528) - 100.0%		$13,445,160,745
Other assets and liabilities, net - 0.0%		(2,763,413)
TOTAL NET ASSETS - 100.0%		$13,442,397,332


As of 6-30-16
	Shares	Value
AFFILIATED INVESTMENT COMPANIES (G) - 100.0%
Equity - 16.1%
Alpha Opportunities, Class NAV (Wellington)	3,011,935	$31,986,751
Blue Chip Growth, Class NAV (T. Rowe Price)	1,068,500	32,760,196
Capital Appreciation, Class NAV (Jennison)	453,820	$7,115,895
Capital Appreciation Value, Class NAV (T.Rowe Price)	7,334,262	83,097,190
Emerging Markets, Class NAV (DFA)	1,563,033	14,082,930
Emerging Markets Equity, Class NAV (JHAM) (A)(1)	1,239,799	10,947,421
Equity Income, Class NAV (T. Rowe Price)	2,121,568	37,785,130
Fundamental Global Franchise, Class NAV (JHAM) (A)(1)	1,676,849	21,882,875
Fundamental Large Cap Value, Class NAV (JHAM) (A)(1)	2,857,390	34,688,716
Global Equity, Class NAV (JHAM) (A)(1)	2,884,344	30,199,084
Global Shareholder Yield, Class NAV (Epoch)	2,152,988	22,950,849
International Core, Class NAV (GMO)	1,065,637	29,752,573
International Growth Stock, Class NAV (Invesco)	2,720,512	32,918,199
International Value, Class NAV (Templeton)	2,867,317	39,425,610
Mid Cap Stock, Class NAV (Wellington)	1,230,416	22,098,263
Mid Value, Class NAV (T. Rowe Price)	1,038,832	15,821,409
Small Cap Growth, Class NAV (Wellington)	976,706	7,256,929
Small Cap Value, Class NAV (Wellington)	224,966	4,330,601
Small Company Value, Class NAV (T. Rowe Price)	115,167	3,056,525
Strategic Growth, Class NAV (JHAM) (A)(1)	471,630	7,305,549
U.S. Equity, Class NAV (GMO)	3,501,968	35,755,095
Fixed income - 73.6%
Active Bond, Class NAV (JHAM/Declaration) (A)(1)	38,007,475	388,056,321
Asia Pacific Total Return Bond, Class NAV (JHAM) (A)(1)	6,558,483	62,108,836
Core Bond, Class NAV (Wells Capital)	12,646,966	169,469,347
Core High Yield, Class NAV (JHAM) (A)(2)	4,835,551	44,777,202
Emerging Markets Debt, Class NAV (JHAM) (A)(1)	8,743,815	81,754,672
Floating Rate Income, Class NAV (WAMCO)	29,269,825	244,695,738
Focused High Yield, Class NAV (JHAM) (A)(1)	1,730,623	5,745,669
Global Bond, Class NAV (PIMCO)	7,881,704	101,989,246
Global Income, Class NAV (Stone Harbor)	2,877,330	26,471,440
Global Short Duration Credit, Class NAV (JHAM) (A)(1)	3,035,447	26,863,706
High Yield, Class NAV (WAMCO)	2,003,035	15,543,553
Investment Quality Bond, Class NAV (Wellington)	12,122,905	151,293,855
Real Return Bond, Class NAV (PIMCO)	14,733,216	166,338,008
Short Duration Credit Opportunities, Class NAV (Stone Harbor)	16,752,181	159,145,720
Short Term Government Income, Class NAV (JHAM) (A)(1)	15,525,520	150,287,038
Spectrum Income, Class NAV (T. Rowe Price)	11,955,757	126,133,239
Strategic Income Opportunities, Class NAV (JHAM) (A)(1)	18,545,994	196,587,541
Total Return, Class NAV (PIMCO)	19,878,614	271,144,295
U.S. High Yield Bond, Class NAV (Wells Capital)	1,822,809	19,449,371
Alternative and specialty - 10.3%
Absolute Return Currency, Class NAV (First Quadrant) (I)	9,174,373	86,239,110
Enduring Assets, Class NAV (Wellington)	5,163,453	58,398,650
Global Absolute Return Strategies, Class NAV (Standard Life)	12,828,423	127,514,522


	Shares		Value
Alternative and specialty - (continued)
Global Real Estate, Class NAV (Deutsche)	1,459,885		$14,598,845
Natural Resources, Class NAV (Jennison)	1,287,303		14,417,792
Real Estate Equity, Class NAV (T. Rowe Price)	1,201,551		14,598,845
Redwood, Class NAV (Boston Partners)	1,704,742		17,132,662
Seaport, Class NAV (Wellington)	539,542		5,654,403
Total Investments (Lifestyle Conservative Portfolio) (Cost $3,171,627,915) - 100.0%		$3,271,627,416
Other assets and liabilities, net - 0.0%		(518,590)
TOTAL NET ASSETS - 100.0%		$3,271,108,826


	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.


	Lifestyle Moderate Portfolio				Lifestyle Conservative Portfolio
	Six months ended 6-30-16		Year ended 12-31-15		Six months ended 6-30-16		Year ended 12-31-15
	(unaudited)				(unaudited)
Increase (decrease) in net assets
From operations
Net investment income (loss)	$32,547,861		$107,176,969		$28,812,144		$91,359,690
Net realized gain (loss)	(46,956,631	)	123,151,438		(23,668,252	)	51,714,345
Change in net unrealized appreciation (depreciation)	164,948,294		(289,082,481	)	135,599,824		(193,093,499	)
Increase (decrease) in net assets resulting from operations	150,539,524		(58,754,074	)	140,743,716		(50,019,464	)
Distributions to shareholders
From net investment income
Class A	(4,590,382	)	(15,169,548	)	(4,686,610	)	(14,877,962	)
Class B	(91,424	)	(475,814	)	(121,704	)	(562,792	)
Class C	(1,231,615	)	(5,990,919	)	(1,498,188	)	(6,454,563	)
Class I	(25,246	)	(42,008	)	(49,124	)	(100,254	)
Class R1	(38,864	)	(145,156	)	(52,546	)	(175,629	)
Class R2	(42,359	)	(133,124	)	(45,598	)	(129,320	)
Class R3	(42,230	)	(175,570	)	(44,785	)	(202,429	)
Class R4	(81,439	)	(265,273	)	(67,769	)	(175,736	)
Class R5	(88,277	)	(297,164	)	(74,607	)	(291,608	)
Class R6	(296,895	)	(756,145	)	(135,260	)	(369,479	)
Class 1	(25,016,017	)	(82,366,847	)	(21,584,241	)	(68,046,066	)
Class 5	(475,935	)	(1,403,193	)	—		—
From net realized gain
Class A	—		(21,716,973	)	—		(14,475,630	)
Class B	—		(973,776	)	—		(748,695	)
Class C	—		(12,611,925	)	—		(8,785,291	)
Class I	—		(65,183	)	—		(101,105	)
Class R1	—		(250,044	)	—		(190,641	)
Class R2	—		(195,701	)	—		(130,784	)
Class R3	—		(270,716	)	—		(201,002	)
Class R4	—		(329,962	)	—		(149,755	)
Class R5	—		(356,283	)	—		(241,665	)
Class R6	—		(961,492	)	—		(324,289	)
Class 1	—		(97,279,196	)	—		(56,568,457	)
Class 5	—		(1,679,657	)	—		—
Total distributions	(32,020,683	)	(243,911,669	)	(28,360,432	)	(173,303,152	)
From portfolio share transactions
Portfolio share transactions	(164,952,040	)	(150,029,655	)	(88,650,221	)	(185,167,937	)
Total increase (decrease)	(46,433,199	)	(452,695,398	)	23,733,063		(408,490,553	)
Net assets
Beginning of period	4,235,278,390		4,687,973,788		3,247,375,763		3,655,866,316
End of period	$4,188,845,191		$4,235,278,390		$3,271,108,826		$3,247,375,763
Undistributed net investment income (loss)	$527,178		—		$451,712		—


Lifestyle Aggressive Portfolio
Per share operating performance for a share outstanding throughout each period																												Ratios and supplemental data
			Income (loss) from investment operations									Less Distributions																Ratios to average net assets
Period ended	Net asset value, beginning of period($)		Net invest- ment income (loss) ($)^1,2			Net realized and unrealized gain (loss) on invest- ments($)			Total from invest- ment operations($)			From net invest- ment income($)			From net realized gain ($)³			From tax return of capital($)		Total distribu- tions($)			Net asset value, end of period($)		Total return (%)^4,5			Expenses before reductions (%)⁶			Expenses including reductions (%)⁶			Net investment income (loss) (%)¹			Net assets, end of period (in millions)			Portfolio turnover (%)
CLASS A
06-30-2016⁷		14.87		(0.02	)		0.04			0.02			—			—			—		—			14.89		0.13	⁸		0.52	⁹		0.47	⁹		(0.33	) ⁹		411			5
12-31-2015		16.29		0.11			(0.34	)		(0.23	)		(0.10	)		(1.09	)		—		(1.19	)		14.87		(1.54	)		0.52			0.47			0.64			411			15
12-31-2014		15.94		0.10			0.60			0.70			(0.09	)		(0.26	)		—		(0.35	)		16.29		4.39			0.53			0.47			0.59			393			18
12-31-2013		12.95		0.09			3.24			3.33			(0.09	)		(0.25	)		—		(0.34	)		15.94		25.70			0.54			0.52			0.58			337			21
12-31-2012		11.30		0.08			1.71			1.79			(0.08	)		(0.06	)		—		(0.14	)		12.95		15.83			0.58			0.57			0.66			239			21
12-31-2011		12.34		0.05			(0.92	)		(0.87	)		(0.05	)		(0.12	)		—		(0.17	)		11.30		(7.09	)		0.58			0.58			0.39			200			25
CLASS B
06-30-2016⁷		14.90		(0.08	)		0.05			(0.03	)		—			—			—		—			14.87		(0.20	) ⁸		1.22	⁹		1.19	⁹		(1.05	) ⁹		14			5
12-31-2015		16.33		(0.04	)		(0.32	)		(0.36	)		—			(1.07	)		—		(1.07	)		14.90		(2.31	)		1.24			1.21			(0.26	)		16			15
12-31-2014		15.98		(0.06	)		0.63			0.57			—			(0.22	)		—		(0.22	)		16.33		3.58			1.28			1.26			(0.36	)		22			18
12-31-2013		12.98		(0.05	)		3.26			3.21			—			(0.21	)		—		(0.21	)		15.98		24.73			1.32	¹¹		1.32			(0.33	)		27			21
12-31-2012		11.33		(0.02	)		1.71			1.69			—			(0.04	)		—		(0.04	)		12.98		14.94			1.37	¹¹		1.35			(0.18	)		24			21
12-31-2011		12.37		(0.05	)		(0.92	)		(0.97	)		—			(0.07	)		—		(0.07	)		11.33		(7.83	)		1.38	¹¹		1.35			(0.45	)		23			25
CLASS C
06-30-2016⁷		14.92		(0.07	)		0.03			(0.04	)		—			—			—		—			14.88		(0.27	) ⁸		1.22	⁹		1.19	⁹		(1.04	) ⁹		162			5
12-31-2015		16.33		(0.02	)		(0.32	)		(0.34	)		—			(1.07	)		—		(1.07	)		14.92		(2.19	)		1.22			1.19			(0.11	)		167			15
12-31-2014		15.99		(0.03	)		0.60			0.57			—			(0.23	)		—		(0.23	)		16.33		3.56			1.23			1.21			(0.19	)		169			18
12-31-2013		12.98		(0.02	)		3.25			3.23			—			(0.22	)		—		(0.22	)		15.99		24.90			1.24			1.23			(0.17	)		159			21
12-31-2012		11.33		(0.01	)		1.71			1.70			—			(0.05	)		—		(0.05	)		12.98		15.00			1.28			1.27			(0.11	)		121			21
12-31-2011		12.37		(0.04	)		(0.92	)		(0.96	)		—			(0.08	)		—		(0.08	)		11.33		(7.76	)		1.29			1.28			(0.36	)		112			25
CLASS I
06-30-2016⁷		14.83		—	¹⁰		0.03			0.03			—			—			—		—			14.86		0.20	⁸		0.21	⁹		0.17	⁹		(0.03	) ⁹		3			5
12-31-2015¹²		17.07		0.28			(1.28	)		(1.00	)		(0.15	)		(1.09	)		—		(1.24	)		14.83		(5.98	) ⁸		0.20	⁹		0.17	⁹		2.56	⁹		3			15	¹³
CLASS R1
06-30-2016⁷		14.90		(0.05	)		0.04			(0.01	)		—			—			—		—			14.89		(0.07	) ⁸		0.83	⁹		0.80	⁹		(0.65	) ⁹		7			5
12-31-2015		16.32		0.02			(0.31	)		(0.29	)		(0.04	)		(1.09	)		—		(1.13	)		14.90		(1.89	)		0.89			0.86			0.12			7			15
12-31-2014		15.98		(0.03	)		0.64			0.61			(0.01	)		(0.26	)		—		(0.27	)		16.32		3.82			1.02			1.00			(0.18	)		8			18
12-31-2013		12.98		0.01			3.26			3.27			(0.02	)		(0.25	)		—		(0.27	)		15.98		25.18			0.95			0.94			0.10			10			21
12-31-2012		11.33		0.02			1.73			1.75			(0.04	)		(0.06	)		—		(0.10	)		12.98		15.42			0.97			0.96			0.19			9			21
12-31-2011		12.38		(0.02	)		(0.91	)		(0.93	)		—			(0.12	)		—		(0.12	)		11.33		(7.49	)		0.99			0.98			(0.14	)		8			25
CLASS R2
06-30-2016⁷		14.80		(0.03	)		0.04			0.01			—			—			—		—			14.81		0.07	⁸		0.61	⁹		0.57	⁹		(0.43	) ⁹		6			5
12-31-2015		16.22		0.07			(0.32	)		(0.25	)		(0.08	)		(1.09	)		—		(1.17	)		14.80		(1.65	)		0.65			0.60			0.44			5			15
12-31-2014		15.88		0.14			0.53			0.67			(0.07	)		(0.26	)		—		(0.33	)		16.22		4.19			1.01			0.62			0.85			5			18
12-31-2013		12.89		0.13			3.18			3.31			(0.07	)		(0.25	)		—		(0.32	)		15.88		25.66			1.59			0.62			0.89			2			21
12-31-2012¹⁴		12.49		0.09			0.44			0.53			(0.07	)		(0.06	)		—		(0.13	)		12.89		4.27	⁸		16.29	⁹		0.62	⁹		0.69	⁸		—	¹⁵		21	¹⁶
CLASS R3
06-30-2016⁷		14.84		(0.04	)		0.04			—			—			—			—		—			14.84		—	⁸		0.76	⁹		0.73	⁹		(0.58	) ⁹		5			5
12-31-2015		16.27		0.06			(0.35	)		(0.29	)		(0.05	)		(1.09	)		—		(1.14	)		14.84		(1.86	)		0.81			0.78			0.34			6			15
12-31-2014		15.92		(0.01	)		0.64			0.63			(0.02	)		(0.26	)		—		(0.28	)		16.27		3.94			0.94			0.92			(0.06	)		7			18
12-31-2013		12.93		—	¹⁰		3.27			3.27			(0.03	)		(0.25	)		—		(0.28	)		15.92		25.29			0.85			0.85			0.02			9			21
12-31-2012		11.28		0.03			1.72			1.75			(0.04	)		(0.06	)		—		(0.10	)		12.93		15.53			0.88			0.88			0.27			10			21
12-31-2011		12.33		(0.01	)		(0.90	)		(0.91	)		(0.02	)		(0.12	)		—		(0.14	)		11.28		(7.41	)		0.87			0.87			(0.06	)		10			25
CLASS R4
06-30-2016⁷		14.81		(0.01	)		0.04			0.03			—			—			—		—			14.84		0.20	⁸		0.46	⁹		0.33	⁹		(0.17	) ⁹		9			5
12-31-2015		16.24		0.10			(0.32	)		(0.22	)		(0.12	)		(1.09	)		—		(1.21	)		14.81		(1.46	)		0.51			0.38			0.60			6			15
12-31-2014		15.90		0.09			0.59			0.68			(0.08	)		(0.26	)		—		(0.34	)		16.24		4.25			0.68			0.56			0.53			7			18
12-31-2013		12.91		0.07			3.25			3.32			(0.08	)		(0.25	)		—		(0.33	)		15.90		25.76			0.59			0.48			0.45			8			21
12-31-2012		11.27		0.06			1.73			1.79			(0.09	)		(0.06	)		—		(0.15	)		12.91		15.86			0.59			0.53			0.52			8			21
12-31-2011		12.32		0.04			(0.92	)		(0.88	)		(0.05	)		(0.12	)		—		(0.17	)		11.27		(7.13	)		0.61			0.61			0.33			8			25


	1			Recognition of net investment income by the portfolio is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.
	2			Based on average daily shares outstanding.
	3			Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds.
	4			Does not reflect the effect of sales charges, if any.
	5			Total returns would have been lower had certain expenses not been reduced during the applicable periods.
	6			Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. The range of expense ratios of the underlying funds held by the portfolio was as follows: 0.67%-3.39%, 0.66%-2.99%, 0.67%-2.85%, 0.69%-3.11%, 0.73%-1.48% and 0.48%-1.40%, for the periods ended 6-30-16, 12-31-15, 12-31-14, 12-31-13, 12-31-12 and 12-31-11, respectively.
	7			Six months ended 6-30-16. Unaudited.
	8			Not annualized.
	9			Annualized.
	10			Less than $0.005 per share.
	11			Includes the impact of expense recapture for the following periods ended: 12-31-13: 0.04% of average net assets for Class B shares. 12-31-12: 0.04% of average net assets for Class B shares. 12-31-11: 0.05% of average net assets for Class B shares.
	12			The inception date for Class I shares is 5-1-15.
	13			The portfolio turnover is shown for the period from 1-1-15 to 12-31-15.
	14			The inception date for Class R2 shares is 3-1-12.
	15			Less than $500,000.
	16			The portfolio turnover is shown for the period from 1-1-12 to 12-31-12.
	17			The inception date for Class R6 shares is 9-1-11.
	18			The portfolio turnover is shown for the period from 1-1-11 to 12-31-11.


Lifestyle Growth Portfolio
Per share operating performance for a share outstanding throughout each period																												Ratios and supplemental data
			Income (loss) from investment operations									Less Distributions																Ratios to average net assets
Period ended	Net asset value, beginning of period($)		Net invest- ment income (loss) ($)^1,2			Net realized and unrealized gain (loss) on invest- ments($)			Total from invest- ment operations($)			From net invest- ment income($)			From net realized gain($)			From tax return of capital($)		Total distribu- tions($)			Net asset value, end of period($)		Total return (%)^3,4			Expenses before reductions (%)⁵			Expenses including reductions (%)⁵			Net investment income (loss) (%)¹			Net assets, end of period (in millions)			Portfolio turnover (%)
CLASS A
06-30-2016⁶		14.89		0.02			0.12			0.14			—			—			—		—			15.03		0.94	⁷		0.52	⁸		0.47	⁸		0.28	⁸		1,624			5
12-31-2015		16.35		0.19			(0.41	)		(0.22	)		(0.19	)		(1.05	)		—		(1.24	)		14.89		(1.45	)		0.51			0.47			1.17			1,611			15
12-31-2014		16.09		0.19			0.54			0.73			(0.18	)		(0.29	)		—		(0.47	)		16.35		4.48			0.52			0.47			1.14			1,535			16
12-31-2013		13.53		0.17			2.78			2.95			(0.17	)		(0.22	)		—		(0.39	)		16.09		21.81			0.53			0.52			1.13			1,274			20
12-31-2012		11.96		0.17			1.62			1.79			(0.16	)		(0.06	)		—		(0.22	)		13.53		15.01			0.57			0.56			1.28			890			23
12-31-2011		12.89		0.15			(0.83	)		(0.68	)		(0.14	)		(0.11	)		—		(0.25	)		11.96		(5.30	)		0.58			0.57			1.14			699			24
CLASS B
06-30-2016⁶		14.94		(0.03	)		0.11			0.08			—			—			—		—			15.02		0.54	⁷		1.22	⁸		1.19	⁸		(0.45	) ⁸		65			5
12-31-2015		16.39		0.05			(0.38	)		(0.33	)		(0.07	)		(1.05	)		—		(1.12	)		14.94		(2.09	)		1.22			1.19			0.30			76			15
12-31-2014		16.14		0.04			0.56			0.60			(0.06	)		(0.29	)		—		(0.35	)		16.39		3.65			1.23			1.21			0.23			100			16
12-31-2013		13.57		0.04			2.80			2.84			(0.05	)		(0.22	)		—		(0.27	)		16.14		20.93			1.24			1.24			0.29			119			20
12-31-2012		12.00		0.06			1.64			1.70			(0.07	)		(0.06	)		—		(0.13	)		13.57		14.18			1.28			1.28			0.50			108			23
12-31-2011		12.92		0.05			(0.81	)		(0.76	)		(0.05	)		(0.11	)		—		(0.16	)		12.00		(5.91	)		1.31	⁹		1.30			0.37			93			24
CLASS C
06-30-2016⁶		14.92		(0.03	)		0.11			0.08			—			—			—		—			15.00		0.54	⁷		1.22	⁸		1.19	⁸		(0.45	) ⁸		708			5
12-31-2015		16.37		0.07			(0.40	)		(0.33	)		(0.07	)		(1.05	)		—		(1.12	)		14.92		(2.09	)		1.21			1.19			0.42			730			15
12-31-2014		16.12		0.06			0.54			0.60			(0.06	)		(0.29	)		—		(0.35	)		16.37		3.66			1.22			1.20			0.38			739			16
12-31-2013		13.56		0.06			2.77			2.83			(0.05	)		(0.22	)		—		(0.27	)		16.12		20.88			1.23			1.23			0.39			646			20
12-31-2012		11.99		0.07			1.63			1.70			(0.07	)		(0.06	)		—		(0.13	)		13.56		14.21			1.27			1.26			0.52			485			23
12-31-2011		12.91		0.05			(0.81	)		(0.76	)		(0.05	)		(0.11	)		—		(0.16	)		11.99		(5.90	)		1.28			1.27			0.38			422			24
CLASS I
06-30-2016⁶		14.82		0.04			0.12			0.16			—			—			—		—			14.98		1.08	⁷		0.20	⁸		0.17	⁸		0.59	⁸		8			5
12-31-2015¹⁰		16.97		0.23			(1.09	)		(0.86	)		(0.24	)		(1.05	)		—		(1.29	)		14.82		(5.17	) ⁷		0.20	⁸		0.17	⁸		2.11	⁸		6			15	¹¹
CLASS R1
06-30-2016⁶		14.96		—	¹²		0.11			0.11			—			—			—		—			15.07		0.74	⁷		0.84	⁸		0.81	⁸		(0.07	) ⁸		19			5
12-31-2015		16.41		0.13			(0.40	)		(0.27	)		(0.13	)		(1.05	)		—		(1.18	)		14.96		(1.73	)		0.86			0.83			0.76			20			15
12-31-2014		16.15		0.10			0.56			0.66			(0.11	)		(0.29	)		—		(0.40	)		16.41		4.04			0.89			0.87			0.62			22			16
12-31-2013		13.58		0.10			2.80			2.90			(0.11	)		(0.22	)		—		(0.33	)		16.15		21.36			0.88			0.88			0.69			23			20
12-31-2012		12.01		0.13			1.63			1.76			(0.13	)		(0.06	)		—		(0.19	)		13.58		14.67			0.87			0.86			0.97			19			23
12-31-2011		12.95		0.09			(0.81	)		(0.72	)		(0.11	)		(0.11	)		—		(0.22	)		12.01		(5.59	)		0.92			0.92			0.70			16			24
CLASS R2
06-30-2016⁶		14.81		0.01			0.12			0.13			—			—			—		—			14.94		0.88	⁷		0.60	⁸		0.57	⁸		0.18	⁸		17			5
12-31-2015		16.27		0.18			(0.42	)		(0.24	)		(0.17	)		(1.05	)		—		(1.22	)		14.81		(1.55	)		0.62			0.59			1.09			15			15
12-31-2014		16.02		0.18			0.51			0.69			(0.15	)		(0.29	)		—		(0.44	)		16.27		4.29			0.73			0.62			1.07			12			16
12-31-2013		13.47		0.26			2.66			2.92			(0.15	)		(0.22	)		—		(0.37	)		16.02		21.67			0.90	⁹		0.62			1.72			9			20
12-31-2012¹³		13.05		0.16			0.48			0.64			(0.16	)		(0.06	)		—		(0.22	)		13.47		4.90	⁷		16.20	⁸		0.62	⁸		1.21	⁷		—	¹⁴		23	¹⁵
CLASS R3
06-30-2016⁶		14.87		—	¹²		0.12			0.12			—			—			—		—			14.99		0.81	⁷		0.76	⁸		0.73	⁸		(0.01	) ⁸		14			5
12-31-2015		16.33		0.12			(0.38	)		(0.26	)		(0.15	)		(1.05	)		—		(1.20	)		14.87		(1.70	)		0.77			0.74			0.71			18			15
12-31-2014		16.08		0.11			0.55			0.66			(0.12	)		(0.29	)		—		(0.41	)		16.33		4.09			0.82			0.80			0.69			23			16
12-31-2013		13.52		0.12			2.78			2.90			(0.12	)		(0.22	)		—		(0.34	)		16.08		21.45			0.79			0.79			0.79			24			20
12-31-2012		11.95		0.11			1.65			1.76			(0.13	)		(0.06	)		—		(0.19	)		13.52		14.77			0.81			0.81			0.83			19			23
12-31-2011		12.88		0.10			(0.81	)		(0.71	)		(0.11	)		(0.11	)		—		(0.22	)		11.95		(5.50	)		0.81			0.81			0.80			22			24
CLASS R4
06-30-2016⁶		14.87		0.03			0.12			0.15			—			—			—		—			15.02		1.01	⁷		0.46	⁸		0.32	⁸		0.42	⁸		20			5
12-31-2015		16.33		0.18			(0.38	)		(0.20	)		(0.21	)		(1.05	)		—		(1.26	)		14.87		(1.30	)		0.47			0.34			1.10			19			15
12-31-2014		16.08		0.21			0.52			0.73			(0.19	)		(0.29	)		—		(0.48	)		16.33		4.49			0.51			0.39			1.26			29			16
12-31-2013		13.51		0.18			2.79			2.97			(0.18	)		(0.22	)		—		(0.40	)		16.08		21.99			0.50			0.40			1.20			24			20
12-31-2012		11.95		0.16			1.65			1.81			(0.19	)		(0.06	)		—		(0.25	)		13.51		15.11			0.50			0.44			1.21			19			23
12-31-2011		12.88		0.14			(0.81	)		(0.67	)		(0.15	)		(0.11	)		—		(0.26	)		11.95		(5.18	)		0.52			0.52			1.08			17			24


Lifestyle Growth Portfolio (continued)
Per share operating performance for a share outstanding throughout each period																											Ratios and supplemental data
			Income (loss) from investment operations								Less Distributions																Ratios to average net assets
Period ended	Net asset value, beginning of period($)		Net invest- ment income (loss) ($)^1,2		Net realized and unrealized gain (loss) on invest- ments($)			Total from invest- ment operations($)			From net invest- ment income($)			From net realized gain($)			From tax return of capital($)		Total distribu- tions($)			Net asset value, end of period($)		Total return (%)^3,4			Expenses before reductions (%)⁵			Expenses including reductions (%)⁵			Net investment income (loss) (%)¹			Net assets, end of period (in millions)			Portfolio turnover (%)
CLASS R5
06-30-2016⁶		14.89		0.04		0.12			0.16			—			—			—		—			15.05		1.07	⁷		0.16	⁸		0.13	⁸		0.62	⁸		27			5
12-31-2015		16.35		0.22		(0.38	)		(0.16	)		(0.25	)		(1.05	)		—		(1.30	)		14.89		(1.10	)		0.16			0.14			1.34			28			15
12-31-2014		16.10		0.22		0.55			0.77			(0.23	)		(0.29	)		—		(0.52	)		16.35		4.71			0.19			0.17			1.34			38			16
12-31-2013		13.52		0.21		2.80			3.01			(0.21	)		(0.22	)		—		(0.43	)		16.10		22.29			0.18			0.18			1.40			37			20
12-31-2012		11.95		0.21		1.63			1.84			(0.21	)		(0.06	)		—		(0.27	)		13.52		15.43			0.18			0.18			1.58			32			23
12-31-2011		12.88		0.19		(0.82	)		(0.63	)		(0.19	)		(0.11	)		—		(0.30	)		11.95		(4.92	)		0.21			0.20			1.49			26			24
Class R6
06-30-2016⁶		14.82		0.05		0.12			0.17			—			—			—		—			14.99		1.15	⁷		0.11	⁸		0.06	⁸		0.69	⁸		51			5
12-31-2015		16.28		0.27		(0.42	)		(0.15	)		(0.26	)		(1.05	)		—		(1.31	)		14.82		(1.04	)		0.11			0.06			1.63			47			15
12-31-2014		16.03		0.30		0.49			0.79			(0.25	)		(0.29	)		—		(0.54	)		16.28		4.86			0.17			0.06			1.81			37			16
12-31-2013		13.47		0.29		2.71			3.00			(0.22	)		(0.22	)		—		(0.44	)		16.03		22.31			0.19			0.11			1.95			19			20
12-31-2012		11.90		0.58		1.27			1.85			(0.22	)		(0.06	)		—		(0.28	)		13.47		15.60			2.23			0.11			4.39			3			23
12-31-2011¹⁶		12.34		0.19		(0.32	)		(0.13	)		(0.20	)		(0.11	)		—		(0.31	)		11.90		(1.07	) ⁷		15.94	⁸		0.10	⁸		1.58	⁷		—	¹⁴		24	¹⁷
CLASS 1
06-30-2016⁶		14.83		0.05		0.11			0.16			—			—			—		—			14.99		1.08	⁷		0.14	⁸		0.11	⁸		0.63	⁸		10,073			5
12-31-2015		16.28		0.24		(0.39	)		(0.15	)		(0.25	)		(1.05	)		—		(1.30	)		14.83		(1.02	)		0.13			0.11			1.46			10,420			15
12-31-2014		16.03		0.23		0.55			0.78			(0.24	)		(0.29	)		—		(0.53	)		16.28		4.80			0.13			0.11			1.41			11,576			16
12-31-2013		13.47		0.22		2.78			3.00			(0.22	)		(0.22	)		—		(0.44	)		16.03		22.31			0.11			0.11			1.45			11,766			20
12-31-2012		11.91		0.21		1.63			1.84			(0.22	)		(0.06	)		—		(0.28	)		13.47		15.50			0.11			0.11			1.64			10,106			23
12-31-2011		12.84		0.19		(0.81	)		(0.62	)		(0.20	)		(0.11	)		—		(0.31	)		11.91		(4.84	)		0.11			0.11			1.50			9,411			24
CLASS 5
06-30-2016⁶		14.81		0.05		0.12			0.17			—			—			—		—			14.98		1.15	⁷		0.09	⁸		0.06	⁸		0.69	⁸		249			5
12-31-2015		16.26		0.26		(0.40	)		(0.14	)		(0.26	)		(1.05	)		—		(1.31	)		14.81		(0.98	)		0.08			0.06			1.57			243			15
12-31-2014		16.01		0.25		0.54			0.79			(0.25	)		(0.29	)		—		(0.54	)		16.26		4.86			0.08			0.06			1.53			233			16
12-31-2013		13.46		0.24		2.76			3.00			(0.23	)		(0.22	)		—		(0.45	)		16.01		22.31			0.06			0.06			1.60			201			20
12-31-2012		11.90		0.23		1.62			1.85			(0.23	)		(0.06	)		—		(0.29	)		13.46		15.57			0.06			0.06			1.78			142			23
12-31-2011		12.82		0.21		(0.81	)		(0.60	)		(0.21	)		(0.11	)		—		(0.32	)		11.90		(4.72	)		0.06			0.06			1.63			111			24


Lifestyle Balanced Portfolio
Per share operating performance for a share outstanding throughout each period																											Ratios and supplemental data
			Income (loss) from investment operations								Less Distributions																Ratios to average net assets
Period ended	Net asset value, beginning of period($)		Net invest- ment income (loss) ($)^1,2		Net realized and unrealized gain (loss) on invest- ments($)			Total from invest- ment operations($)			From net invest- ment income($)			From net realized gain($)			From tax return of capital($)		Total distribu- tions($)			Net asset value, end of period($)		Total return (%)^3,4			Expenses before reductions (%)⁵			Expenses including reductions (%)⁵			Net investment income (loss) (%)¹			Net assets, end of period (in millions)			Portfolio turnover (%)
CLASS A
06-30-2016⁶		14.31		0.06		0.26			0.32			(0.06	)		—			—		(0.06	)		14.57		2.24	⁷		0.52	⁸		0.47	⁸		0.87	⁸		1,851			5
12-31-2015		15.55		0.27		(0.50	)		(0.23	)		(0.26	)		(0.75	)		—		(1.01	)		14.31		(1.54	)		0.51			0.47			1.69			1,843			13
12-31-2014		15.36		0.28		0.34			0.62			(0.27	)		(0.16	)		—		(0.43	)		15.55		4.00			0.52			0.47			1.77			1,786			15
12-31-2013		13.61		0.25		1.89			2.14			(0.24	)		(0.15	)		—		(0.39	)		15.36		15.76			0.53			0.51			1.69			1,461			19
12-31-2012		12.26		0.26		1.40			1.66			(0.24	)		(0.07	)		—		(0.31	)		13.61		13.59			0.56			0.56			1.96			1,043			20
12-31-2011		12.96		0.28		(0.62	)		(0.34	)		(0.26	)		(0.10	)		—		(0.36	)		12.26		(2.62	)		0.57			0.57			2.17			751			23
CLASS B
06-30-2016⁶		14.31		0.01		0.25			0.26			(0.01	)		—			—		(0.01	)		14.56		1.82	⁷		1.22	⁸		1.19	⁸		0.14	⁸		69			5
12-31-2015		15.54		0.13		(0.46	)		(0.33	)		(0.15	)		(0.75	)		—		(0.90	)		14.31		(2.20	)		1.22			1.19			0.85			78			13
12-31-2014		15.35		0.13		0.37			0.50			(0.15	)		(0.16	)		—		(0.31	)		15.54		3.21			1.24			1.22			0.85			98			15
12-31-2013		13.61		0.12		1.90			2.02			(0.13	)		(0.15	)		—		(0.28	)		15.35		14.84			1.28			1.28			0.81			116			19
12-31-2012		12.26		0.16		1.41			1.57			(0.15	)		(0.07	)		—		(0.22	)		13.61		12.80			1.29			1.28			1.18			107			20
12-31-2011		12.96		0.18		(0.61	)		(0.43	)		(0.17	)		(0.10	)		—		(0.27	)		12.26		(3.30	)		1.29			1.29			1.41			85			23
CLASS C
06-30-2016⁶		14.32		0.01		0.25			0.26			(0.01	)		—			—		(0.01	)		14.57		1.82	⁷		1.22	⁸		1.19	⁸		0.15	⁸		851			5
12-31-2015		15.55		0.15		(0.48	)		(0.33	)		(0.15	)		(0.75	)		—		(0.90	)		14.32		(2.19	)		1.21			1.19			0.95			876			13
12-31-2014		15.37		0.16		0.33			0.49			(0.15	)		(0.16	)		—		(0.31	)		15.55		3.18			1.22			1.20			1.00			892			15
12-31-2013		13.62		0.14		1.89			2.03			(0.13	)		(0.15	)		—		(0.28	)		15.37		14.93			1.23			1.23			0.96			767			19
12-31-2012		12.27		0.16		1.41			1.57			(0.15	)		(0.07	)		—		(0.22	)		13.62		12.81			1.26			1.26			1.19			579			20
12-31-2011		12.97		0.18		(0.61	)		(0.43	)		(0.17	)		(0.10	)		—		(0.27	)		12.27		(3.29	)		1.27			1.27			1.37			484			23
CLASS I
06-30-2016⁶		14.24		0.09		0.24			0.33			(0.08	)		—			—		(0.08	)		14.49		2.33	⁷		0.20	⁸		0.17	⁸		1.25	⁸		11			5
12-31-2015⁹		16.00		0.34		(1.08	)		(0.74	)		(0.27	)		(0.75	)		—		(1.02	)		14.24		(4.70	) ⁷		0.20	⁸		0.17	⁸		3.26	⁸		6			13	¹⁰
CLASS R1
06-30-2016⁶		14.25		0.04		0.25			0.29			(0.03	)		—			—		(0.03	)		14.51		2.07	⁷		0.84	⁸		0.82	⁸		0.53	⁸		18			5
12-31-2015		15.48		0.20		(0.48	)		(0.28	)		(0.20	)		(0.75	)		—		(0.95	)		14.25		(1.86	)		0.86			0.84			1.27			17			13
12-31-2014		15.30		0.19		0.35			0.54			(0.20	)		(0.16	)		—		(0.36	)		15.48		3.52			0.92			0.91			1.22			20			15
12-31-2013		13.57		0.18		1.88			2.06			(0.18	)		(0.15	)		—		(0.33	)		15.30		15.23			0.90			0.90			1.21			19			19
12-31-2012		12.22		0.20		1.42			1.62			(0.20	)		(0.07	)		—		(0.27	)		13.57		13.29			0.86			0.86			1.52			17			20
12-31-2011		12.92		0.22		(0.60	)		(0.38	)		(0.22	)		(0.10	)		—		(0.32	)		12.22		(2.94	)		0.94			0.94			1.68			16			23
CLASS R2
06-30-2016⁶		14.24		0.05		0.26			0.31			(0.05	)		—			—		(0.05	)		14.50		2.20	⁷		0.60	⁸		0.57	⁸		0.76	⁸		14			5
12-31-2015		15.48		0.25		(0.50	)		(0.25	)		(0.24	)		(0.75	)		—		(0.99	)		14.24		(1.66	)		0.63			0.59			1.58			14			13
12-31-2014		15.29		0.29		0.30			0.59			(0.24	)		(0.16	)		—		(0.40	)		15.48		3.87			0.79			0.62			1.86			10			15
12-31-2013		13.56		0.34		1.76			2.10			(0.22	)		(0.15	)		—		(0.37	)		15.29		15.59			1.09	¹¹		0.62			2.30			5			19
12-31-2012¹²		13.15		0.24		0.48			0.72			(0.24	)		(0.07	)		—		(0.31	)		13.56		5.48	⁷		16.33	⁸		0.61	⁸		1.78	⁷		—	¹³		20	¹⁴
CLASS R3
06-30-2016⁶		14.28		0.04		0.25			0.29			(0.04	)		—			—		(0.04	)		14.53		2.04	⁷		0.75	⁸		0.72	⁸		0.62	⁸		22			5
12-31-2015		15.51		0.20		(0.46	)		(0.26	)		(0.22	)		(0.75	)		—		(0.97	)		14.28		(1.75	)		0.76			0.74			1.30			24			13
12-31-2014		15.33		0.20		0.36			0.56			(0.22	)		(0.16	)		—		(0.38	)		15.51		3.64			0.80			0.78			1.27			30			15
12-31-2013		13.59		0.19		1.90			2.09			(0.20	)		(0.15	)		—		(0.35	)		15.33		15.43			0.77			0.77			1.31			35			19
12-31-2012		12.24		0.21		1.42			1.63			(0.21	)		(0.07	)		—		(0.28	)		13.59		13.38			0.78			0.77			1.62			33			20
12-31-2011		12.94		0.23		(0.59	)		(0.36	)		(0.24	)		(0.10	)		—		(0.34	)		12.24		(2.82	)		0.79			0.78			1.79			36			23
CLASS R4
06-30-2016⁶		14.28		0.07		0.26			0.33			(0.07	)		—			—		(0.07	)		14.54		2.32	⁷		0.45	⁸		0.33	⁸		1.02	⁸		26			5
12-31-2015		15.52		0.25		(0.46	)		(0.21	)		(0.28	)		(0.75	)		—		(1.03	)		14.28		(1.42	)		0.47			0.34			1.57			24			13
12-31-2014		15.33		0.28		0.35			0.63			(0.28	)		(0.16	)		—		(0.44	)		15.52		4.12			0.49			0.37			1.78			40			15
12-31-2013		13.59		0.26		1.89			2.15			(0.26	)		(0.15	)		—		(0.41	)		15.33		15.90			0.46			0.35			1.76			77			19
12-31-2012		12.24		0.28		1.40			1.68			(0.26	)		(0.07	)		—		(0.33	)		13.59		13.77			0.46			0.39			2.10			70			20
12-31-2011		12.94		0.28		(0.60	)		(0.32	)		(0.28	)		(0.10	)		—		(0.38	)		12.24		(2.52	)		0.50			0.50			2.13			26			23


Lifestyle Moderate Portfolio
Per share operating performance for a share outstanding throughout each period																											Ratios and supplemental data
			Income (loss) from investment operations								Less Distributions																Ratios to average net assets
Period ended	Net asset value, beginning of period($)		Net invest- ment income (loss) ($)^1,2		Net realized and unrealized gain (loss) on invest- ments($)			Total from invest- ment operations($)			From net invest- ment income($)			From net realized gain($)			From tax return of capital($)		Total distribu- tions($)			Net asset value, end of period($)		Total return (%)^3,4			Expenses before reductions (%)⁵			Expenses including reductions (%)⁵			Net investment income (loss) (%)¹			Net assets, end of period (in millions)			Portfolio turnover (%)
CLASS A
06-30-2016⁶		13.13		0.09		0.39			0.48			(0.09	)		—			—		(0.09	)		13.52		3.66	⁷		0.51	⁸		0.47	⁸		1.39	⁸		698			5
12-31-2015		14.11		0.31		(0.54	)		(0.23	)		(0.31	)		(0.44	)		—		(0.75	)		13.13		(1.67	)		0.51			0.47			2.21			680			11
12-31-2014		14.29		0.35		0.17			0.52			(0.33	)		(0.37	)		—		(0.70	)		14.11		3.63			0.52			0.47			2.36			662			14
12-31-2013		13.35		0.31		1.02			1.33			(0.30	)		(0.09	)		—		(0.39	)		14.29		10.05			0.53			0.52			2.22			551			17
12-31-2012		12.28		0.33		1.13			1.46			(0.31	)		(0.08	)		—		(0.39	)		13.35		11.94			0.57			0.57			2.50			399			18
12-31-2011		12.63		0.38		(0.29	)		0.09			(0.35	)		(0.09	)		—		(0.44	)		12.28		0.73			0.58			0.58			2.96			299			19
CLASS B
06-30-2016⁶		13.13		0.04		0.38			0.42			(0.04	)		—			—		(0.04	)		13.51		3.22	⁷		1.21	⁸		1.19	⁸		0.66	⁸		28			5
12-31-2015		14.10		0.19		(0.51	)		(0.32	)		(0.21	)		(0.44	)		—		(0.65	)		13.13		(2.33	)		1.22			1.20			1.36			30			11
12-31-2014		14.28		0.21		0.20			0.41			(0.22	)		(0.37	)		—		(0.59	)		14.10		2.84			1.25			1.24			1.43			39			14
12-31-2013		13.34		0.19		1.04			1.23			(0.20	)		(0.09	)		—		(0.29	)		14.28		9.23			1.26			1.25			1.36			45			17
12-31-2012		12.27		0.23		1.14			1.37			(0.22	)		(0.08	)		—		(0.30	)		13.34		11.14			1.30			1.30			1.74			45			18
12-31-2011		12.63		0.28		(0.29	)		(0.01	)		(0.26	)		(0.09	)		—		(0.35	)		12.27		(0.08	)		1.32			1.32			2.22			35			19
CLASS C
06-30-2016⁶		13.14		0.04		0.38			0.42			(0.04	)		—			—		(0.04	)		13.52		3.22	⁷		1.21	⁸		1.19	⁸		0.66	⁸		385			5
12-31-2015		14.11		0.21		(0.53	)		(0.32	)		(0.21	)		(0.44	)		—		(0.65	)		13.14		(2.32	)		1.21			1.19			1.46			392			11
12-31-2014		14.30		0.23		0.17			0.40			(0.22	)		(0.37	)		—		(0.59	)		14.11		2.79			1.22			1.21			1.59			411			14
12-31-2013		13.35		0.20		1.04			1.24			(0.20	)		(0.09	)		—		(0.29	)		14.30		9.34			1.23			1.23			1.47			366			17
12-31-2012		12.28		0.23		1.14			1.37			(0.22	)		(0.08	)		—		(0.30	)		13.35		11.17			1.27			1.27			1.77			288			18
12-31-2011		12.64		0.28		(0.29	)		(0.01	)		(0.26	)		(0.09	)		—		(0.35	)		12.28		(0.05	)		1.28			1.28			2.21			227			19
CLASS I
06-30-2016⁶		13.09		0.12		0.37			0.49			(0.11	)		—			—		(0.11	)		13.47		3.75	⁷		0.19	⁸		0.18	⁸		1.78	⁸		3			5
12-31-2015⁹		14.42		0.33		(0.92	)		(0.59	)		(0.30	)		(0.44	)		—		(0.74	)		13.09		(4.13	) ⁷		0.19	⁸		0.17	⁸		3.55	⁸		2			11	¹⁰
CLASS R1
06-30-2016⁶		13.12		0.07		0.38			0.45			(0.07	)		—			—		(0.07	)		13.50		3.42	⁷		0.81	⁸		0.79	⁸		1.05	⁸		7			5
12-31-2015		14.09		0.25		(0.53	)		(0.28	)		(0.25	)		(0.44	)		—		(0.69	)		13.12		(1.99	)		0.87			0.85			1.77			8			11
12-31-2014		14.28		0.24		0.20			0.44			(0.26	)		(0.37	)		—		(0.63	)		14.09		3.07			1.01			1.00			1.65			8			14
12-31-2013		13.35		0.23		1.04			1.27			(0.25	)		(0.09	)		—		(0.34	)		14.28		9.55			0.94			0.94			1.68			10			17
12-31-2012		12.27		0.27		1.15			1.42			(0.26	)		(0.08	)		—		(0.34	)		13.35		11.58			0.96			0.96			2.10			10			18
12-31-2011		12.63		0.30		(0.27	)		0.03			(0.30	)		(0.09	)		—		(0.39	)		12.27		0.21			1.03			1.03			2.32			7			19
CLASS R2
06-30-2016⁶		13.09		0.08		0.38			0.46			(0.08	)		—			—		(0.08	)		13.47		3.54	⁷		0.58	⁸		0.57	⁸		1.30	⁸		7			5
12-31-2015		14.06		0.30		(0.54	)		(0.24	)		(0.29	)		(0.44	)		—		(0.73	)		13.09		(1.72	)		0.64			0.60			2.12			6			11
12-31-2014		14.25		0.36		0.13			0.49			(0.31	)		(0.37	)		—		(0.68	)		14.06		3.41			1.02			0.62			2.50			4			14
12-31-2013		13.32		0.39		0.92			1.31			(0.29	)		(0.09	)		—		(0.38	)		14.25		9.92			1.68	¹¹		0.62			2.82			2			17
12-31-2012¹²		12.96		0.30		0.45			0.75			(0.31	)		(0.08	)		—		(0.39	)		13.32		5.80	⁷		16.03	⁸		0.62	⁸		2.29	⁷		—	¹³		18	¹⁴
CLASS R3
06-30-2016⁶		13.11		0.07		0.38			0.45			(0.07	)		—			—		(0.07	)		13.49		3.46	⁷		0.74	⁸		0.72	⁸		1.12	⁸		8			5
12-31-2015		14.08		0.26		(0.52	)		(0.26	)		(0.27	)		(0.44	)		—		(0.71	)		13.11		(1.89	)		0.78			0.76			1.82			8			11
12-31-2014		14.27		0.27		0.19			0.46			(0.28	)		(0.37	)		—		(0.65	)		14.08		3.16			0.89			0.87			1.82			10			14
12-31-2013		13.33		0.25		1.04			1.29			(0.26	)		(0.09	)		—		(0.35	)		14.27		9.70			0.84			0.84			1.82			11			17
12-31-2012		12.26		0.27		1.16			1.43			(0.28	)		(0.08	)		—		(0.36	)		13.33		11.64			0.88			0.88			2.08			10			18
12-31-2011		12.62		0.32		(0.27	)		0.05			(0.32	)		(0.09	)		—		(0.41	)		12.26		0.38			0.88			0.88			2.54			10			19
CLASS R4
06-30-2016⁶		13.09		0.10		0.38			0.48			(0.10	)		—			—		(0.10	)		13.47		3.66	⁷		0.45	⁸		0.33	⁸		1.54	⁸		11			5
12-31-2015		14.06		0.30		(0.51	)		(0.21	)		(0.32	)		(0.44	)		—		(0.76	)		13.09		(1.50	)		0.48			0.36			2.15			10			11
12-31-2014		14.25		0.34		0.18			0.52			(0.34	)		(0.37	)		—		(0.71	)		14.06		3.60			0.57			0.45			2.36			14			14
12-31-2013		13.31		0.31		1.03			1.34			(0.31	)		(0.09	)		—		(0.40	)		14.25		10.17			0.55			0.44			2.19			13			17
12-31-2012		12.24		0.33		1.14			1.47			(0.32	)		(0.08	)		—		(0.40	)		13.31		12.02			0.57			0.51			2.51			11			18
12-31-2011		12.60		0.36		(0.28	)		0.08			(0.35	)		(0.09	)		—		(0.44	)		12.24		0.65			0.63			0.63			2.81			8			19


Lifestyle Conservative Portfolio
Per share operating performance for a share outstanding throughout each period																											Ratios and supplemental data
			Income (loss) from investment operations								Less Distributions																Ratios to average net assets
Period ended	Net asset value, beginning of period($)		Net invest- ment income (loss) ($)^1,2		Net realized and unrealized gain (loss) on invest- ments($)			Total from invest- ment operations($)			From net invest- ment income($)			From net realized gain($)			From tax return of capital($)		Total distribu- tions($)			Net asset value, end of period($)		Total return (%)^3,4			Expenses before reductions (%)⁵			Expenses including reductions (%)⁵			Net investment income (loss) (%)¹			Net assets, end of period (in millions)			Portfolio turnover (%)
CLASS A
06-30-2016⁶		12.42		0.10		0.44			0.54			(0.10	)		—			—		(0.10	)		12.86		4.36	⁷		0.51	⁸		0.47	⁸		1.64	⁸		607			7
12-31-2015		13.30		0.33		(0.56	)		(0.23	)		(0.33	)		(0.32	)		—		(0.65	)		12.42		(1.74	)		0.51			0.47			2.47			576			10
12-31-2014		13.68		0.37		0.10			0.47			(0.37	)		(0.48	)		—		(0.85	)		13.30		3.44			0.53			0.47			2.67			600			22
12-31-2013		13.44		0.33		0.29			0.62			(0.33	)		(0.05	)		—		(0.38	)		13.68		4.66			0.54			0.52			2.44			530			17
12-31-2012		12.63		0.38		0.88			1.26			(0.37	)		(0.08	)		—		(0.45	)		13.44		10.03			0.56			0.56			2.89			472			14
12-31-2011		12.77		0.46		(0.11	)		0.35			(0.43	)		(0.06	)		—		(0.49	)		12.63		2.75			0.58			0.58			3.61			340			15
CLASS B
06-30-2016⁶		12.43		0.06		0.44			0.50			(0.06	)		—			—		(0.06	)		12.87		3.99	⁷		1.21	⁸		1.19	⁸		0.89	⁸		27			7
12-31-2015		13.30		0.22		(0.54	)		(0.32	)		(0.23	)		(0.32	)		—		(0.55	)		12.43		(2.39	)		1.22			1.20			1.64			30			10
12-31-2014		13.68		0.24		0.12			0.36			(0.26	)		(0.48	)		—		(0.74	)		13.30		2.65			1.25			1.24			1.75			39			22
12-31-2013		13.44		0.22		0.30			0.52			(0.23	)		(0.05	)		—		(0.28	)		13.68		3.87			1.26			1.26			1.65			47			17
12-31-2012		12.63		0.28		0.88			1.16			(0.27	)		(0.08	)		—		(0.35	)		13.44		9.24			1.30			1.30			2.13			48			14
12-31-2011		12.77		0.35		(0.10	)		0.25			(0.33	)		(0.06	)		—		(0.39	)		12.63		2.01			1.31			1.31			2.75			37			15
CLASS C
06-30-2016⁶		12.42		0.06		0.44			0.50			(0.06	)		—			—		(0.06	)		12.86		3.99	⁷		1.21	⁸		1.19	⁸		0.91	⁸		342			7
12-31-2015		13.30		0.23		(0.56	)		(0.33	)		(0.23	)		(0.32	)		—		(0.55	)		12.42		(2.47	)		1.21			1.19			1.73			349			10
12-31-2014		13.68		0.27		0.09			0.36			(0.26	)		(0.48	)		—		(0.74	)		13.30		2.66			1.23			1.21			1.91			378			22
12-31-2013		13.43		0.23		0.30			0.53			(0.23	)		(0.05	)		—		(0.28	)		13.68		3.98			1.24			1.24			1.71			355			17
12-31-2012		12.62		0.29		0.88			1.17			(0.28	)		(0.08	)		—		(0.36	)		13.43		9.28			1.26			1.26			2.17			335			14
12-31-2011		12.77		0.36		(0.11	)		0.25			(0.34	)		(0.06	)		—		(0.40	)		12.62		1.95			1.28			1.28			2.81			254			15
CLASS I
06-30-2016⁶		12.40		0.12		0.44			0.56			(0.12	)		—			—		(0.12	)		12.84		4.52	⁷		0.19	⁸		0.17	⁸		2.00	⁸		6			7
12-31-2015⁹		13.49		0.34		(0.80	)		(0.46	)		(0.31	)		(0.32	)		—		(0.63	)		12.40		(3.40	) ⁷		0.19	⁸		0.17	⁸		3.84	⁸		4			10	¹⁰
CLASS R1
06-30-2016⁶		12.41		0.08		0.44			0.52			(0.08	)		—			—		(0.08	)		12.85		4.18	⁷		0.82	⁸		0.81	⁸		1.30	⁸		9			7
12-31-2015		13.29		0.26		(0.54	)		(0.28	)		(0.28	)		(0.32	)		—		(0.60	)		12.41		(2.11	)		0.87			0.86			1.95			8			10
12-31-2014		13.68		0.30		0.09			0.39			(0.30	)		(0.48	)		—		(0.78	)		13.29		2.86			1.00			0.99			2.14			10			22
12-31-2013		13.43		0.27		0.30			0.57			(0.27	)		(0.05	)		—		(0.32	)		13.68		4.31			0.91			0.91			1.97			9			17
12-31-2012		12.62		0.31		0.88			1.19			(0.30	)		(0.08	)		—		(0.38	)		13.43		9.52			1.07			1.07			2.36			9			14
12-31-2011		12.78		0.33		(0.05	)		0.28			(0.38	)		(0.06	)		—		(0.44	)		12.62		2.19			1.06			1.06			2.57			7			15
CLASS R2
06-30-2016⁶		12.40		0.10		0.43			0.53			(0.09	)		—			—		(0.09	)		12.84		4.31	⁷		0.58	⁸		0.57	⁸		1.54	⁸		6			7
12-31-2015		13.28		0.31		(0.55	)		(0.24	)		(0.32	)		(0.32	)		—		(0.64	)		12.40		(1.86	)		0.65			0.61			2.31			5			10
12-31-2014		13.67		0.46		(0.02	)		0.44			(0.35	)		(0.48	)		—		(0.83	)		13.28		3.21			1.13			0.62			3.30			5			22
12-31-2013		13.42		0.39		0.23			0.62			(0.32	)		(0.05	)		—		(0.37	)		13.67		4.67			2.55			0.62			2.86			2			17
12-31-2012¹¹		13.12		0.35		0.39			0.74			(0.36	)		(0.08	)		—		(0.44	)		13.42		5.73	⁷		10.39	⁸		0.62	⁸		2.64	⁷		—	¹²		14	¹³
CLASS R3
06-30-2016⁶		12.39		0.09		0.43			0.52			(0.08	)		—			—		(0.08	)		12.83		4.24	⁷		0.68	⁸		0.66	⁸		1.41	⁸		7			7
12-31-2015		13.26		0.27		(0.52	)		(0.25	)		(0.30	)		(0.32	)		—		(0.62	)		12.39		(1.94	)		0.76			0.75			2.04			8			10
12-31-2014		13.65		0.31		0.10			0.41			(0.32	)		(0.48	)		—		(0.80	)		13.26		3.01			0.88			0.86			2.21			11			22
12-31-2013		13.41		0.30		0.28			0.58			(0.29	)		(0.05	)		—		(0.34	)		13.65		4.39			0.75			0.75			2.18			11			17
12-31-2012		12.60		0.31		0.91			1.22			(0.33	)		(0.08	)		—		(0.41	)		13.41		9.71			0.97			0.97			2.38			11			14
12-31-2011		12.76		0.40		(0.11	)		0.29			(0.39	)		(0.06	)		—		(0.45	)		12.60		2.30			0.88			0.88			3.08			10			15
CLASS R4
06-30-2016⁶		12.40		0.11		0.44			0.55			(0.11	)		—			—		(0.11	)		12.84		4.44	⁷		0.45	⁸		0.33	⁸		1.81	⁸		8			7
12-31-2015		13.27		0.31		(0.51	)		(0.20	)		(0.35	)		(0.32	)		—		(0.67	)		12.40		(1.56	)		0.50			0.38			2.37			6			10
12-31-2014		13.66		0.36		0.10			0.46			(0.37	)		(0.48	)		—		(0.85	)		13.27		3.36			0.63			0.51			2.62			9			22
12-31-2013		13.42		0.34		0.29			0.63			(0.34	)		(0.05	)		—		(0.39	)		13.66		4.72			0.58			0.48			2.51			9			17
12-31-2012		12.61		0.36		0.90			1.26			(0.37	)		(0.08	)		—		(0.45	)		13.42		10.06			0.60			0.54			2.72			8			14
12-31-2011		12.76		0.45		(0.11	)		0.34			(0.43	)		(0.06	)		—		(0.49	)		12.61		2.65			0.63			0.63			3.50			9			15


	Portfolio			Commitment fee
	Lifestyle Aggressive Portfolio			$2,828


Portfolio	Amount
Lifestyle Aggressive Portfolio	$5,826
Lifestyle Growth Portfolio	5,826
Lifestyle Balanced Portfolio	5,826
Lifestyle Moderate Portfolio	5,826
Lifestyle Conservative Portfolio	5,826


Portfolio	Aggregate cost	Unrealized appreciation	Unrealized (depreciation)		Net unrealized appreciation/ (depreciation)
Lifestyle Aggressive Portfolio	$3,576,332,797	$521,632,731	($41,137,813	)	$480,494,918
Lifestyle Growth Portfolio	11,672,905,403	1,369,397,294	(168,150,940	)	1,201,246,354
Lifestyle Balanced Portfolio	12,496,338,732	1,156,565,339	(207,743,326	)	948,822,013
Lifestyle Moderate Portfolio	3,959,031,855	316,727,675	(86,067,093	)	230,660,582
Lifestyle Conservative Portfolio	3,218,518,393	131,733,017	(78,623,994	)	53,109,023


	First $7.5 billion of aggregate net assets	Excess over $7.5 billion of aggregate net assets
Affiliated fund assets	0.050%	0.040%
Other assets	0.500%	0.490%


	Expense reimbursement by class
Portfolio	Class A	Class B	Class C	Class I	Class R1	Class R2	Class R3	Class R4	Class R5	Class R6	Class 1	Class 5	Total
Lifestyle Aggressive Portfolio	$101,154	$2,398	$26,831	$543	$1,132	$1,068	$905	$1,386	$1,241	$4,778	$569,887	—	$711,323
Lifestyle Growth Portfolio	372,241	10,253	105,265	968	2,781	2,486	2,199	2,979	4,045	11,165	1,498,757	$35,904	2,049,043
Lifestyle Balanced Portfolio	408,471	9,887	117,219	1,189	2,467	1,874	3,051	3,511	3,242	12,986	1,426,246	19,324	2,009,467
Lifestyle Moderate Portfolio	112,887	2,316	30,824	246	617	539	627	857	846	5,449	234,618	4,226	394,052
Lifestyle Conservative Portfolio	97,482	2,268	27,533	459	669	490	553	604	635	2,196	178,052	—	310,941