N-CSR

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-21779

JOHN HANCOCK FUNDS II

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(Exact name of registrant as specified in charter)

200 BERKELEY STREET, BOSTON, MA 02116

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(Address of principal executive offices) (Zip code)

SALVATORE SCHIAVONE, 200 Berkeley Street, BOSTON, MA 02116

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(Name and address of agent for service)

Registrant's telephone number, including area code: (617) 543-9634

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Date of fiscal year end: August 31

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Date of reporting period: August 31, 2023

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ITEM 1. REPORTS TO STOCKHOLDERS.

The Registrant prepared the following annual reports to shareholders for the period ended August 31, 2023:

MULTIMANAGER LIFETIME PORTFOLIOS	LIFETIME BLEND PORTFOLIOS
Multimanager 2010 Lifetime Portfolio	2010 Lifetime Blend Portfolio
Multimanager 2015 Lifetime Portfolio	2015 Lifetime Blend Portfolio
Multimanager 2020 Lifetime Portfolio	2020 Lifetime Blend Portfolio
Multimanager 2025 Lifetime Portfolio	2025 Lifetime Blend Portfolio
Multimanager 2030 Lifetime Portfolio	2030 Lifetime Blend Portfolio
Multimanager 2035 Lifetime Portfolio	2035 Lifetime Blend Portfolio
Multimanager 2040 Lifetime Portfolio	2040 Lifetime Blend Portfolio
Multimanager 2045 Lifetime Portfolio	2045 Lifetime Blend Portfolio
Multimanager 2050 Lifetime Portfolio	2050 Lifetime Blend Portfolio
Multimanager 2055 Lifetime Portfolio	2055 Lifetime Blend Portfolio
Multimanager 2060 Lifetime Portfolio	2060 Lifetime Blend Portfolio
Multimanager 2065 Lifetime Portfolio	2065 Lifetime Blend Portfolio
LIFESTYLE BLEND PORTFOLIOS	Alternative Asset Allocation Fund
Lifestyle Blend Aggressive Portfolio	Blue Chip Growth Fund
Lifestyle Blend Balanced Portfolio	Equity Income Fund
Lifestyle Blend Conservative Portfolio	Fundamental Global Franchise Fund
Lifestyle Blend Conservative Portfolio
Lifestyle Blend Growth Portfolio	Global Equity Fund
Lifestyle Blend Moderate Portfolio	International Small Company Fund
	Small Cap Growth Fund
	Small Cap Value Fund

A message to shareholders

Dear shareholder,

Global equities shook off a number of concerns to register gains during the 12 months ended August 31, 2023. Although central banks continued to raise interest rates, falling inflation gave investors confidence that the tightening cycle would likely recede at some point within the next year. In addition, continued global growth fueled optimism that the world economy would experience a soft landing rather than a recession. Corporate earnings also came in much better than the markets had been anticipating in late 2022. A large portion of the gain for the major world indexes came from a narrow group of U.S. mega-cap, technology-related companies. European equities also performed very well, reflecting better-than-expected economic conditions. Value stocks, defensive sectors, smaller companies, and the emerging markets posted gains but underperformed the broad-based indexes.

The global bond markets struggled in the rising-rate environment. While credit-sensitive market segments such as high-yield bonds and emerging-market debt held up well, the benefit was outweighed by pronounced weakness in longer-term government issues in the developed markets.

In these uncertain times, your financial professional can assist with positioning your portfolio so that it’s sufficiently diversified to help meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.

On behalf of everyone at John Hancock Investment Management, I’d like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you’ve placed in us.

Sincerely,

Kristie M. Feinberg

Head of Wealth and Asset Management,
United States and Europe
Manulife Investment Management

President and CEO,
John Hancock Investment Management

This commentary reflects the CEO’s views as of this report’s period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.

Table of Contents

Management’s discussion of portfolio performance

Can you describe the investment conditions during the 12 months ended August 31, 2023?

Financial assets produced mixed results during the period. On the positive side, global equities shook off a number of concerns to register a robust gain. Although central banks continued to raise interest rates, falling inflation gave investors confidence that the tightening cycle would likely slow down at some point during the next year. In addition, continued global growth fueled optimism that the world economy would experience a soft landing rather than a recession. Corporate earnings also came in much better than the markets had been anticipating in late 2022. Together, these factors helped stocks overcome potential headwinds such as the ongoing conflict in Ukraine, short-lived turmoil in the U.S. and European banking sectors in March, and growing competition from rising yields on lower-risk investments.

A large portion of the gain for the major world indexes came from a narrow group of U.S. mega-cap, technology-related companies. European equities also performed very well, reflecting better-than-expected economic conditions in the region. On the other hand, value stocks, defensive sectors, smaller companies, and the emerging markets posted gains but underperformed the broad-based indexes. The relative weakness in emerging-market stocks reflected China’s unexpectedly soft reopening from its stringent COVID-19 lockdown policies, as well as concerns about ongoing instability in the nation’s real estate sector.

The global bond markets struggled in the rising-rate environment. While credit-sensitive categories such as high-yield bonds and emerging-market debt held up well, the benefit was outweighed by pronounced weakness in longer-term government issues in the developed markets.

MULTIMANAGER 2065-2010 LIFETIME PORTFOLIOS’ CLASS A SHARE RETURNS (%)

For the twelve months ended 8/31/2023

Total returns for the portfolios exclude sales charges and assume all distributions are reinvested. The deduction of a class’ maximum sales charge would reduce the performance shown above.

Past performance does not guarantee future results.

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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What elements of the portfolios’ positioning helped and hurt results?

All of the portfolios delivered positive absolute returns but underperformed their respective benchmarks in the annual reporting period. One reason for the shortfall was that even diversified indexes, including the portfolios’ benchmarks, gained a substantial boost from the handful of strong-performing U.S. technology giants. As a result, the portfolios faced a headwind to relative performance by being broadly diversified away from this area.

Asset allocation was the largest detractor from performance across all portfolios. Most notably, we were hurt by an underweight in U.S. large-cap stocks and corresponding overweights in domestic small caps and defensive stocks. Although defensive stocks registered gains, they did not keep pace with the broader market given investors’ robust appetite for risk from the start of 2023 onward.

An allocation to real assets—which consists of real estate investment trusts (REITs), natural resource equities, and infrastructure stocks—detracted in John Hancock Multimanager 2010, 2015, 2020, 2025, 2030, 2035, 2040, and 2045 Lifetime Portfolios. While the resources sectors performed well, both REITs and infrastructure stocks were pressured by the rising-rate environment.

Positioning in the international developed markets was also a modest detractor, due largely to an underweight. An underweight in the emerging markets contributed in John Hancock Multimanager 2010, 2015, 2020, and 2025 Lifetime Portfolios. However, all other portfolios were hurt by an overweight in the asset class.

Asset allocation had a mixed effect on results in fixed income. While we benefited from a tilt toward credit-oriented market segments over core bonds, an allocation to U.S. Treasury STRIPS was a meaningful detractor due to the category’s above-average interest-rate sensitivity.

The relative performance of the underlying managers compared to their respective categories also detracted from results, with the majority of the impact occurring in international equities.

MARKET INDEX TOTAL RETURNS
For the twelve months ended 8/31/2023
U.S. Stocks	S&P 500 Index	15.94%
	Russell Midcap Index	8.38%
	Russell 2000 Index	4.65%
	FTSE NAREIT All Equity REIT Index	-7.71%
International Stocks	MSCI EAFE Index	17.92%
	MSCI Emerging Markets Index	1.25%
	MSCI EAFE Small Cap Index	9.18%
Fixed Income	Bloomberg U.S. Aggregate Bond Index	-1.19%
	ICE Bank of America U.S. High Yield Index	7.01%
	JPMorgan Global Government Bonds Unhedged Index	-1.61%

Market index total returns are included here as broad measures of market performance.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Multimanager 2065 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2065 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2060+ Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2065 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	91.1
Equity	86.0
U.S. large cap	26.6
International equity	23.0
Large blend	15.7
U.S. mid cap	10.8
Emerging-market equity	7.0
U.S. small cap	2.0
Sector equity	0.9
Fixed income	3.0
Short-term bond	1.2
Intermediate bond	0.7
Emerging-market debt	0.6
High yield bond	0.5
Alternative and specialty	2.1
Sector equity	2.1
Unaffiliated investment companies	6.6
Equity	6.6
U.S. Government	2.0
Short-term investments and other	0.3

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I¹	Class R2¹	Class R4¹	Class R5¹	Class R6¹	Class 1¹	Index 1	Index 2
Inception	9-23-20	9-23-20	9-23-20	9-23-20	9-23-20	9-23-20	9-23-20	9-23-20	9-23-20
Average annual total returns
1 year	4.88	10.79	10.55	10.66	10.82	10.90	10.76	12.95	11.20
Since inception	5.48	7.70	7.52	7.64	7.79	7.82	7.75	9.10	8.51
Cumulative returns
Since inception	16.99	24.38	23.76	24.17	24.68	24.76	24.55	29.16	27.15

Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charge on Class A shares of 5%. Sales charges are not applicable to Class I, Class R2, Class R4, Class R5, Class R6, and Class 1 shares.

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. Net expenses reflect contractual expense limitations in effect until December 31, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The following expense ratios include expenses of the underlying funds in which the portfolio invests. The expense ratios are as follows:

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	2.06	1.76	2.16	2.01	1.71	1.66	1.70
Net (%)	1.00	0.70	1.09	0.84	0.64	0.59	0.63

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

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

The performance information does not reflect the deduction of taxes that a shareholder would 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.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Multimanager 2060 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2060 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2060+ Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2060 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	91.0
Equity	86.0
U.S. large cap	26.6
International equity	23.0
Large blend	15.7
U.S. mid cap	10.8
Emerging-market equity	7.0
U.S. small cap	2.0
Sector equity	0.9
Fixed income	2.9
Short-term bond	1.2
Intermediate bond	0.6
Emerging-market debt	0.6
High yield bond	0.5
Alternative and specialty	2.1
Sector equity	2.1
Unaffiliated investment companies	6.6
Equity	6.6
U.S. Government	2.2
Short-term investments and other	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I¹	Class R2¹	Class R4¹	Class R5¹	Class R6¹	Class 1¹	Index 1	Index 2
Inception	3-30-16	3-30-16	3-30-16	3-30-16	3-30-16	3-30-16	3-30-16	3-30-16	3-30-16
Average annual total returns
1 year	4.85	10.69	10.32	10.60	10.67	10.81	10.76	12.95	11.20
5 year	4.97	6.37	6.03	6.32	6.44	6.50	6.45	6.89	7.40
Since inception	7.71	8.80	8.49	8.73	8.86	8.91	8.86	9.23	10.06
Cumulative returns
5 year	27.44	36.18	34.02	35.84	36.62	37.00	36.70	39.56	42.87
Since inception	73.56	87.05	83.18	86.15	87.80	88.52	87.80	92.60	103.70

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.39	1.09	1.48	1.33	1.03	0.98	1.02
Net (%)	1.00	0.70	1.09	0.84	0.64	0.59	0.63

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.

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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Multimanager 2055 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2055 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2055 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2055 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	91.0
Equity	86.0
U.S. large cap	26.8
International equity	22.8
Large blend	15.7
U.S. mid cap	10.8
Emerging-market equity	7.0
U.S. small cap	2.0
Sector equity	0.9
Fixed income	2.9
Short-term bond	1.2
Intermediate bond	0.6
Emerging-market debt	0.6
High yield bond	0.5
Alternative and specialty	2.1
Sector equity	2.1
Unaffiliated investment companies	6.6
Equity	6.6
U.S. Government	2.2
Short-term investments and other	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I^1,2	Class R2²	Class R4²	Class R5²	Class R6²	Class 1²	Index 1	Index 2
Inception	3-26-14	3-26-14	3-26-14	3-26-14	3-26-14	3-26-14	3-26-14	3-26-14	3-26-14
Average annual total returns
1 year	4.75	10.63	10.18	10.56	10.59	10.66	10.72	12.85	11.20
5 year	4.95	6.34	5.93	6.31	6.41	6.48	6.43	6.87	7.40
Since inception	6.35	7.21	6.92	7.22	7.34	7.39	7.35	7.72	8.55
Cumulative returns
5 year	27.30	36.01	33.39	35.78	36.46	36.86	36.57	39.38	42.87
Since inception	78.74	92.85	88.05	93.02	95.14	95.98	95.21	101.64	116.80

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.35	1.05	1.44	1.29	0.99	0.94	0.98
Net (%)	1.01	0.71	1.10	0.85	0.65	0.60	0.64

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	Class R1 shares commenced operations on 3-26-14 and ceased operations on 10-23-20. Class I shares were first offered on 3-27-15. Returns prior to this date are those of Class R1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Multimanager 2050 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2050 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2050 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2050 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	91.0
Equity	86.1
U.S. large cap	26.8
International equity	22.8
Large blend	15.8
U.S. mid cap	10.8
Emerging-market equity	7.0
U.S. small cap	2.0
Sector equity	0.9
Fixed income	2.8
Short-term bond	1.2
Intermediate bond	0.6
Emerging-market debt	0.5
High yield bond	0.5
Alternative and specialty	2.1
Sector equity	2.1
Unaffiliated investment companies	6.6
Equity	6.6
U.S. Government	2.2
Short-term investments and other	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I^1,2	Class R2²	Class R4²	Class R5²	Class R6²	Class 1²	Index 1	Index 2
Average annual total returns
1 year	4.86	10.69	10.23	10.45	10.67	10.73	10.69	12.77	11.20
5 year	4.94	6.36	5.92	6.20	6.40	6.46	6.41	6.82	7.40
10-year	7.24	8.14	7.71	7.98	8.20	8.25	8.19	8.53	9.41
Cumulative returns
5 year	27.27	36.08	33.31	35.08	36.38	36.73	36.46	39.05	42.87
10-year	101.20	118.66	110.19	115.46	119.97	120.98	119.71	126.80	145.71

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.32	1.02	1.41	1.26	0.96	0.91	0.96
Net (%)	1.02	0.72	1.11	0.86	0.66	0.61	0.65

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	Class I shares were first offered on 3-27-15. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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Multimanager 2045 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2045 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2045 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2045 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	90.6
Equity	82.4
U.S. large cap	25.7
International equity	22.5
Large blend	15.3
U.S. mid cap	10.0
Emerging-market equity	6.3
U.S. small cap	1.8
Sector equity	0.8
Fixed income	5.3
Intermediate bond	2.1
Emerging-market debt	1.3
Short-term bond	1.1
High yield bond	0.8
Alternative and specialty	2.9
Sector equity	2.9
Unaffiliated investment companies	6.3
Equity	6.3
U.S. Government	2.8
Short-term investments and other	0.3

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I^1,2	Class R2²	Class R4²	Class R5²	Class R6²	Class 1²	Index 1	Index 2
Average annual total returns
1 year	4.47	10.37	9.78	10.23	10.41	10.38	10.32	12.36	10.79
5 year	4.91	6.31	5.89	6.18	6.39	6.43	6.37	6.68	7.33
10-year	7.22	8.01	7.70	7.97	8.19	8.24	8.18	8.32	9.37
Cumulative returns
5 year	27.09	35.80	33.12	34.94	36.29	36.54	36.20	38.15	42.42
10-year	100.87	116.12	109.89	115.37	119.63	120.74	119.57	122.40	144.93

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.31	1.01	1.40	1.25	0.95	0.90	0.94
Net (%)	1.00	0.70	1.09	0.84	0.64	0.59	0.63

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	Class R1 shares commenced operations on 10-30-06 and ceased operations on 10-23-20. Class I shares were first offered on 3-27-15. Returns prior to this date are those of Class R1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Multimanager 2040 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2040 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2040 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2040 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	90.3
Equity	74.4
U.S. large cap	22.3
International equity	21.8
Large blend	14.4
U.S. mid cap	8.4
Emerging-market equity	5.2
U.S. small cap	1.5
Sector equity	0.8
Fixed income	11.4
Intermediate bond	6.2
Emerging-market debt	2.0
High yield bond	1.5
Short-term bond	1.2
Multi-sector bond	0.5
Alternative and specialty	4.5
Sector equity	4.5
Unaffiliated investment companies	5.5
Equity	5.5
U.S. Government	4.0
Short-term investments and other	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I^1,2	Class R2²	Class R4²	Class R5²	Class R6²	Class 1²	Index 1	Index 2
Average annual total returns
1 year	3.41	9.18	8.84	9.07	9.24	9.22	9.28	11.43	9.64
5 year	4.59	5.98	5.58	5.85	6.06	6.09	6.06	6.36	6.90
10-year	7.04	7.81	7.51	7.77	8.00	8.04	8.00	8.02	9.14
Cumulative returns
5 year	25.13	33.71	31.19	32.85	34.18	34.40	34.20	36.11	39.58
10-year	97.49	112.19	106.33	111.40	115.90	116.75	115.83	116.24	139.80

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.30	1.00	1.39	1.24	0.94	0.89	0.93
Net (%)	1.00	0.70	1.09	0.84	0.64	0.59	0.63

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	Class R1 shares commenced operations on 10-30-06 and ceased operations on 10-23-20. Class I shares were first offered on 3-27-15. Returns prior to this date are those of Class R1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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Multimanager 2035 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2035 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2035 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2035 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	90.2
Equity	65.4
International equity	20.3
U.S. large cap	19.7
Large blend	12.2
U.S. mid cap	7.0
Emerging-market equity	4.3
U.S. small cap	1.1
Sector equity	0.8
Fixed income	19.1
Intermediate bond	11.4
Emerging-market debt	2.9
High yield bond	2.3
Short-term bond	1.3
Multi-sector bond	1.2
Alternative and specialty	5.7
Sector equity	5.7
Unaffiliated investment companies	4.6
Equity	4.6
U.S. Government	5.0
Short-term investments and other	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I^1,2	Class R2²	Class R4²	Class R5²	Class R6²	Class 1²	Index 1	Index 2
Average annual total returns
1 year	2.32	7.89	7.49	7.80	8.05	8.11	8.06	10.09	8.31
5 year	4.11	5.45	5.07	5.35	5.56	5.61	5.56	5.85	6.36
10-year	6.62	7.38	7.08	7.35	7.57	7.62	7.58	7.54	8.64
Cumulative returns
5 year	22.30	30.42	28.05	29.74	31.08	31.40	31.06	32.86	36.09
10-year	89.87	103.90	98.27	103.27	107.47	108.50	107.59	106.87	129.13

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.29	0.99	1.38	1.23	0.93	0.88	0.92
Net (%)	1.01	0.71	1.10	0.85	0.65	0.60	0.64

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	Class R1 shares commenced operations on 10-30-06 and ceased operations on 10-23-20. Class I shares were first offered on 3-27-15. Returns prior to this date are those of Class R1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Multimanager 2030 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2030 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2030 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2030 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	89.5
Equity	54.4
International equity	19.4
U.S. large cap	15.2
Large blend	9.9
U.S. mid cap	5.5
Emerging-market equity	3.2
Sector equity	0.7
U.S. small cap	0.5
Fixed income	27.9
Intermediate bond	14.4
Emerging-market debt	3.5
Short-term bond	3.3
Multi-sector bond	3.2
High yield bond	2.8
Bank loan	0.7
Alternative and specialty	7.2
Sector equity	7.2
Unaffiliated investment companies	4.2
Equity	4.2
U.S. Government	6.1
Short-term investments and other	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I^1,2	Class R2²	Class R4²	Class R5²	Class R6²	Class 1²	Index 1	Index 2
Average annual total returns
1 year	1.21	6.84	6.40	6.82	6.94	6.99	7.05	8.61	7.09
5 year	3.74	5.12	4.70	4.98	5.17	5.23	5.19	5.21	5.85
10-year	6.14	6.91	6.60	6.87	7.08	7.14	7.09	6.90	8.06
Cumulative returns
5 year	20.13	28.33	25.81	27.50	28.66	29.02	28.81	28.92	32.90
10-year	81.49	94.99	89.42	94.33	98.13	99.36	98.32	94.82	117.19

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.28	0.98	1.38	1.23	0.93	0.88	0.92
Net (%)	0.99	0.69	1.08	0.83	0.63	0.58	0.62

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	Class R1 shares commenced operations on 10-30-06 and ceased operations on 10-23-20. Class I shares were first offered on 3-27-15. Returns prior to this date are those of Class R1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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Multimanager 2025 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2025 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2025 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2025 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	89.6
Equity	42.1
International equity	17.1
U.S. large cap	11.3
Large blend	6.6
U.S. mid cap	4.1
Emerging-market equity	1.9
Sector equity	0.6
U.S. small cap	0.5
Fixed income	39.0
Intermediate bond	19.7
Short-term bond	5.3
Multi-sector bond	4.9
Emerging-market debt	4.2
High yield bond	3.6
Bank loan	1.3
Alternative and specialty	8.5
Sector equity	8.5
Unaffiliated investment companies	3.2
Equity	3.2
U.S. Government	6.9
Short-term investments and other	0.3

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I^1,2	Class R2²	Class R4²	Class R5²	Class R6²	Class 1²	Index 1	Index 2
Average annual total returns
1 year	0.12	5.70	5.37	5.65	5.78	5.84	5.91	7.16	5.90
5 year	3.33	4.71	4.32	4.56	4.76	4.82	4.79	4.63	5.28
10-year	5.56	6.33	6.04	6.30	6.50	6.55	6.50	6.26	7.39
Cumulative returns
5 year	17.80	25.89	23.52	24.98	26.17	26.56	26.37	25.41	29.31
10-year	71.73	84.76	79.69	84.15	87.67	88.61	87.78	83.45	104.00

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.28	0.98	1.37	1.22	0.92	0.87	0.91
Net (%)	0.98	0.68	1.07	0.82	0.62	0.57	0.61

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	Class R1 shares commenced operations on 10-30-06 and ceased operations on 10-23-20. Class I shares were first offered on 3-27-15. Returns prior to this date are those of Class R1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Multimanager 2020 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2020 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2020 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2020 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	89.9
Equity	34.0
International equity	15.7
U.S. large cap	7.6
Large blend	5.5
U.S. mid cap	2.9
Emerging-market equity	1.2
Sector equity	0.6
U.S. small cap	0.5
Fixed income	47.0
Intermediate bond	24.1
Short-term bond	7.2
Multi-sector bond	5.1
Emerging-market debt	4.7
High yield bond	4.0
Bank loan	1.9
Alternative and specialty	8.9
Sector equity	8.9
Unaffiliated investment companies	2.4
Equity	2.4
U.S. Government	7.4
Short-term investments and other	0.3

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I^1,2	Class R2²	Class R4²	Class R5²	Class R6²	Class 1²	Index 1	Index 2
Average annual total returns
1 year	-0.50	4.97	4.54	4.97	5.06	5.13	5.20	6.31	5.20
5 year	2.88	4.25	3.84	4.11	4.30	4.35	4.32	4.02	4.60
10-year	4.87	5.64	5.32	5.59	5.79	5.85	5.80	5.60	6.53
Cumulative returns
5 year	15.24	23.13	20.71	22.29	23.44	23.74	23.52	21.78	25.21
10-year	60.95	73.05	67.99	72.32	75.52	76.64	75.81	72.51	88.20

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.29	0.99	1.38	1.23	0.93	0.88	0.92
Net (%)	0.96	0.66	1.05	0.80	0.60	0.55	0.59

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	Class R1 shares commenced operations on 10-30-06 and ceased operations on 10-23-20. Class I shares were first offered on 3-27-15. Returns prior to this date are those of Class R1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Multimanager 2015 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2015 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2015 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2015 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	89.6
Equity	28.9
International equity	14.1
U.S. large cap	7.7
Large blend	4.7
U.S. mid cap	1.9
Emerging-market equity	0.5
Fixed income	53.2
Intermediate bond	27.2
Short-term bond	9.0
Multi-sector bond	5.3
Emerging-market debt	5.0
High yield bond	4.2
Bank loan	2.5
Alternative and specialty	7.5
Sector equity	7.5
Unaffiliated investment companies	2.3
Equity	2.3
U.S. Government	7.9
Short-term investments and other	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I^1,2	Class R2²	Class R4²	Class R5²	Class R6²	Class 1²	Index 1	Index 2
Average annual total returns
1 year	-0.64	4.92	4.47	4.79	4.98	4.89	4.98	5.51	4.86
5 year	2.67	4.03	3.65	4.06	4.09	4.15	4.13	3.86	4.26
10-year	4.32	5.08	4.77	5.11	5.24	5.30	5.26	5.17	5.76
Cumulative returns
5 year	14.10	21.83	19.65	21.99	22.19	22.54	22.40	20.87	23.20
10-year	52.69	64.19	59.43	64.63	66.61	67.64	66.90	65.55	75.00

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.33	1.03	1.42	1.27	0.97	0.92	0.97
Net (%)	0.94	0.64	1.03	0.78	0.58	0.53	0.57

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	Class R1 shares commenced operations on 10-30-06 and ceased operations on 10-23-20. Class I shares were first offered on 3-27-15. Returns prior to this date are those of Class R1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Multimanager 2010 Lifetime Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multimanager 2010 Lifetime Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2010 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

Index 2 is the John Hancock 2010 Lifetime Index, which is based on the fund’s asset allocation glide path and will reflect a more conservative allocation over time. The index is a customized blended index comprising some or all of the following component indices (ordered alphabetically): Bloomberg U.S. Aggregate Bond Index, Bloomberg U.S. Corporate Bond 1-5 Year Index, Bloomberg U.S. Treasury TIPS 1-5 Year Index, ICE BofA Long U.S. Treasury Principal STRIPS Index, ICE BofA U.S. High Yield Index, JP Morgan Emerging Markets Bond Index Global, MSCI Emerging Markets Index, MSCI World Energy Index, MSCI World ex-USA Index, MSCI World Metals & Mining Index, Russell 2500 Index, S&P 500 Index, S&P Global ex-U.S. REIT Index, S&P Global Infrastructure Index, S&P U.S. REIT Index, and Morningstar LSTA US Leveraged Loan 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 (% of net assets)
Affiliated investment companies	89.7
Equity	22.9
International equity	12.8
U.S. large cap	6.0
Large blend	3.2
U.S. mid cap	0.9
Fixed income	59.3
Intermediate bond	29.5
Short-term bond	11.4
Multi-sector bond	5.6
Emerging-market debt	5.2
High yield bond	4.5
Bank loan	3.1
Alternative and specialty	7.5
Sector equity	7.5
Unaffiliated investment companies	1.7
Equity	1.7
U.S. Government	8.3
Short-term investments and other	0.3

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A	Class I^1,2	Class R2²	Class R4²	Class R5²	Class R6²	Class 1²	Index 1	Index 2
Average annual total returns
1 year	-0.85	4.45	4.13	4.42	4.64	4.69	4.64	5.28	4.51
5 year	2.50	3.85	3.48	3.73	3.92	4.00	3.92	3.61	3.94
10-year	3.92	4.66	4.38	4.63	4.83	4.90	4.83	4.62	5.17
Cumulative returns
5 year	13.13	20.81	18.66	20.10	21.17	21.66	21.23	19.38	21.29
10-year	46.90	57.65	53.45	57.31	60.28	61.32	60.33	57.14	65.53

	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1
Gross (%)	1.38	1.08	1.47	1.32	1.02	0.97	1.01
Net (%)	0.92	0.62	1.01	0.76	0.56	0.51	0.55

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	Class R1 shares commenced operations on 10-30-06 and ceased operations on 10-23-20. Class I shares were first offered on 3-27-15. Returns prior to this date are those of Class R1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Your expenses

As a shareholder of a John Hancock Funds II Multimanager Lifetime Portfolio, 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, each 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 a 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 (March 1, 2023 through August 31, 2023).

Actual expenses:

The first line of each share class in the following table 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 ended” 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 following table 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 remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Please note that the expenses shown in the table 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.

SHAREHOLDER EXPENSE EXAMPLE CHART

		Account value on 3-1-2023	Ending value on 8-31-2023	Expenses paid during period ended 8-31-2023¹	Annualized expense ratio²
Multimanager 2065 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,070.60	$2.19	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,072.40	0.63	0.12%
	Hypothetical example	1,000.00	1,024.60	0.61	0.12%
Class R2	Actual expenses/actual returns	1,000.00	1,071.60	1.31	0.25%
	Hypothetical example	1,000.00	1,023.90	1.28	0.25%
Class R4	Actual expenses/actual returns	1,000.00	1,072.50	0.84	0.16%
	Hypothetical example	1,000.00	1,024.40	0.82	0.16%
Class R5	Actual expenses/actual returns	1,000.00	1,072.40	0.16	0.03%
	Hypothetical example	1,000.00	1,025.10	0.15	0.03%
Class R6	Actual expenses/actual returns	1,000.00	1,073.40	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,072.40	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

SHAREHOLDER EXPENSE EXAMPLE CHART (continued)

		Account value on 3-1-2023	Ending value on 8-31-2023	Expenses paid during period ended 8-31-2023¹	Annualized expense ratio²
Multimanager 2060 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,070.60	$2.19	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,072.20	0.63	0.12%
	Hypothetical example	1,000.00	1,024.60	0.61	0.12%
Class R2	Actual expenses/actual returns	1,000.00	1,070.60	2.61	0.50%
	Hypothetical example	1,000.00	1,022.70	2.55	0.50%
Class R4	Actual expenses/actual returns	1,000.00	1,072.30	0.94	0.18%
	Hypothetical example	1,000.00	1,024.30	0.92	0.18%
Class R5	Actual expenses/actual returns	1,000.00	1,072.30	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%
Class R6	Actual expenses/actual returns	1,000.00	1,073.10	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,072.20	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%
Multimanager 2055 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,070.20	$2.19	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,072.10	0.57	0.11%
	Hypothetical example	1,000.00	1,024.70	0.56	0.11%
Class R2	Actual expenses/actual returns	1,000.00	1,070.20	2.61	0.50%
	Hypothetical example	1,000.00	1,022.70	2.55	0.50%
Class R4	Actual expenses/actual returns	1,000.00	1,072.10	0.78	0.15%
	Hypothetical example	1,000.00	1,024.40	0.77	0.15%
Class R5	Actual expenses/actual returns	1,000.00	1,072.00	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class R6	Actual expenses/actual returns	1,000.00	1,072.00	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,073.10	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%
Multimanager 2050 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,071.00	$2.19	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,072.90	0.63	0.12%
	Hypothetical example	1,000.00	1,024.60	0.61	0.12%
Class R2	Actual expenses/actual returns	1,000.00	1,070.00	2.66	0.51%
	Hypothetical example	1,000.00	1,022.60	2.60	0.51%
Class R4	Actual expenses/actual returns	1,000.00	1,072.00	1.36	0.26%
	Hypothetical example	1,000.00	1,023.90	1.33	0.26%
Class R5	Actual expenses/actual returns	1,000.00	1,072.80	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class R6	Actual expenses/actual returns	1,000.00	1,072.80	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,072.90	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

SHAREHOLDER EXPENSE EXAMPLE CHART (continued)

		Account value on 3-1-2023	Ending value on 8-31-2023	Expenses paid during period ended 8-31-2023¹	Annualized expense ratio²
Multimanager 2045 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,068.00	$2.19	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,070.90	0.63	0.12%
	Hypothetical example	1,000.00	1,024.60	0.61	0.12%
Class R2	Actual expenses/actual returns	1,000.00	1,067.60	2.66	0.51%
	Hypothetical example	1,000.00	1,022.60	2.60	0.51%
Class R4	Actual expenses/actual returns	1,000.00	1,070.10	1.36	0.26%
	Hypothetical example	1,000.00	1,023.90	1.33	0.26%
Class R5	Actual expenses/actual returns	1,000.00	1,070.60	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class R6	Actual expenses/actual returns	1,000.00	1,069.70	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,069.60	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%
Multimanager 2040 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,062.00	$2.18	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,063.70	0.62	0.12%
	Hypothetical example	1,000.00	1,024.60	0.61	0.12%
Class R2	Actual expenses/actual returns	1,000.00	1,061.70	2.65	0.51%
	Hypothetical example	1,000.00	1,022.60	2.60	0.51%
Class R4	Actual expenses/actual returns	1,000.00	1,063.10	1.30	0.25%
	Hypothetical example	1,000.00	1,023.90	1.28	0.25%
Class R5	Actual expenses/actual returns	1,000.00	1,064.80	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class R6	Actual expenses/actual returns	1,000.00	1,063.90	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,064.90	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%
Multimanager 2035 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,055.90	$2.18	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,056.80	0.57	0.11%
	Hypothetical example	1,000.00	1,024.70	0.56	0.11%
Class R2	Actual expenses/actual returns	1,000.00	1,054.30	2.59	0.50%
	Hypothetical example	1,000.00	1,022.70	2.55	0.50%
Class R4	Actual expenses/actual returns	1,000.00	1,056.60	1.04	0.20%
	Hypothetical example	1,000.00	1,024.20	1.02	0.20%
Class R5	Actual expenses/actual returns	1,000.00	1,057.70	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class R6	Actual expenses/actual returns	1,000.00	1,057.70	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,057.70	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

SHAREHOLDER EXPENSE EXAMPLE CHART (continued)

		Account value on 3-1-2023	Ending value on 8-31-2023	Expenses paid during period ended 8-31-2023¹	Annualized expense ratio²
Multimanager 2030 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,048.20	$2.17	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,049.60	0.62	0.12%
	Hypothetical example	1,000.00	1,024.60	0.61	0.12%
Class R2	Actual expenses/actual returns	1,000.00	1,047.50	2.58	0.50%
	Hypothetical example	1,000.00	1,022.70	2.55	0.50%
Class R4	Actual expenses/actual returns	1,000.00	1,049.80	1.34	0.26%
	Hypothetical example	1,000.00	1,023.90	1.33	0.26%
Class R5	Actual expenses/actual returns	1,000.00	1,049.60	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class R6	Actual expenses/actual returns	1,000.00	1,050.90	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,050.80	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%
Multimanager 2025 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,040.10	$2.16	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,041.60	0.62	0.12%
	Hypothetical example	1,000.00	1,024.60	0.61	0.12%
Class R2	Actual expenses/actual returns	1,000.00	1,040.50	2.62	0.51%
	Hypothetical example	1,000.00	1,022.60	2.60	0.51%
Class R4	Actual expenses/actual returns	1,000.00	1,041.60	1.34	0.26%
	Hypothetical example	1,000.00	1,023.90	1.33	0.26%
Class R5	Actual expenses/actual returns	1,000.00	1,041.70	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class R6	Actual expenses/actual returns	1,000.00	1,041.70	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,042.90	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%
Multimanager 2020 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,035.90	$2.16	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,035.80	0.62	0.12%
	Hypothetical example	1,000.00	1,024.60	0.61	0.12%
Class R2	Actual expenses/actual returns	1,000.00	1,034.80	2.62	0.51%
	Hypothetical example	1,000.00	1,022.60	2.60	0.51%
Class R4	Actual expenses/actual returns	1,000.00	1,036.10	1.33	0.26%
	Hypothetical example	1,000.00	1,023.90	1.33	0.26%
Class R5	Actual expenses/actual returns	1,000.00	1,037.30	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class R6	Actual expenses/actual returns	1,000.00	1,037.40	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,037.30	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

SHAREHOLDER EXPENSE EXAMPLE CHART (continued)

		Account value on 3-1-2023	Ending value on 8-31-2023	Expenses paid during period ended 8-31-2023¹	Annualized expense ratio²
Multimanager 2015 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,034.30	$2.15	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,035.80	0.62	0.12%
	Hypothetical example	1,000.00	1,024.60	0.61	0.12%
Class R2	Actual expenses/actual returns	1,000.00	1,033.10	2.56	0.50%
	Hypothetical example	1,000.00	1,022.70	2.55	0.50%
Class R4	Actual expenses/actual returns	1,000.00	1,035.70	0.77	0.15%
	Hypothetical example	1,000.00	1,024.40	0.77	0.15%
Class R5	Actual expenses/actual returns	1,000.00	1,035.80	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class R6	Actual expenses/actual returns	1,000.00	1,035.80	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,037.20	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%
Multimanager 2010 Lifetime Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,032.30	$2.15	0.42%
	Hypothetical example	1,000.00	1,023.10	2.14	0.42%
Class I	Actual expenses/actual returns	1,000.00	1,032.30	0.61	0.12%
	Hypothetical example	1,000.00	1,024.60	0.61	0.12%
Class R2	Actual expenses/actual returns	1,000.00	1,032.30	2.56	0.50%
	Hypothetical example	1,000.00	1,022.70	2.55	0.50%
Class R4	Actual expenses/actual returns	1,000.00	1,033.80	1.33	0.26%
	Hypothetical example	1,000.00	1,023.90	1.33	0.26%
Class R5	Actual expenses/actual returns	1,000.00	1,033.80	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class R6	Actual expenses/actual returns	1,000.00	1,035.10	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,033.70	0.26	0.05%
	Hypothetical example	1,000.00	1,025.00	0.26	0.05%

¹	Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
²	Ratios do not include expenses indirectly incurred by the underlying funds and can vary based on the mix of underlying funds held by the portfolios.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

Portfolios’ investments

Subadvisors of Affiliated Underlying Funds
Allspring Global Investments, LLC	(Allspring Investments)
Axiom International Investors LLC	(Axiom)
BCSF Advisors, LP (Bain Capital Credit)	(Bain Capital)
Boston Partners Global Investors, Inc.	(Boston Partners)
Dimensional Fund Advisors LP	(DFA)
Epoch Investment Partners, Inc.	(Epoch)
Jennison Associates LLC	(Jennison)
Manulife Investment Management (North America) Limited	(MIM NA)
Manulife Investment Management (US) LLC	(MIM US)
Redwood Investments, LLC	(Redwood)
T. Rowe Price Associates, Inc.	(T. Rowe Price)
Wellington Management Company LLP	(Wellington)

MULTIMANAGER 2065 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 91.1%
Equity - 86.0%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	70,006	$3,199,965
Capital Appreciation, Class NAV, JHF II (Jennison)	166,833	2,220,546
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	163,464	1,487,526
Disciplined Value, Class NAV, JHF III (Boston Partners)	115,799	2,606,631
Disciplined Value International, Class NAV, JHIT (Boston Partners)	173,501	2,562,607
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	451,478	4,000,094
Equity Income, Class NAV, JHF II (T. Rowe Price)	189,312	3,528,781
Financial Industries, Class NAV, JHIT II (MIM US) (B)	36,251	516,572
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	33,948	2,219,883
International Dynamic Growth, Class NAV, JHIT (Axiom)	103,302	1,037,149
International Growth, Class NAV, JHF III (Wellington)	47,423	1,147,627
International Small Company, Class NAV, JHF II (DFA)	98,935	1,001,220
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	808,678	7,496,446
Mid Cap Growth, Class NAV, JHIT (Wellington)	196,544	2,743,755
Mid Value, Class NAV, JHF II (T. Rowe Price)	209,896	3,446,493
Small Cap Growth, Class NAV, JHF II (Redwood) (C)	38,328	535,829
Small Cap Value, Class NAV, JHF II (Wellington)	35,039	622,301
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	936,736	8,992,666
Fixed income - 3.0%
Bond, Class NAV, JHSB (MIM US) (B)	28,914	383,111
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	44,683	324,844
High Yield, Class NAV, JHBT (MIM US) (B)	104,986	309,709
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	77,211	709,566
Alternative and specialty - 2.1%
Health Sciences, Class NAV, JHF II (T. Rowe Price)	139,881	675,623
Science & Technology, Class NAV, JHF II (T. Rowe Price)	310,712	518,889

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $51,633,195)		$52,287,833
UNAFFILIATED INVESTMENT COMPANIES - 6.6%
Equity - 6.6%
Fidelity Emerging Markets Index Fund	60,864	600,117
Fidelity International Index Fund	12,579	574,099
Fidelity Mid Cap Index Fund	49,692	1,404,799

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

MULTIMANAGER 2065 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
Fidelity Small Cap Index Fund	52,313	$1,234,055

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $3,722,182)		$3,813,070
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	274	0
ICA Gruppen AB (C)(D)	12	0
Health care - 0.0%
NMC Health PLC (C)	9	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	37	110
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	1,110	30

TOTAL COMMON STOCKS (Cost $276)		$140
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 2.0%
U.S. Government - 2.0%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$634,900	197,890
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	1,221,400	385,983
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	1,147,900	377,009
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	627,400	214,068

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $1,440,959)		$1,174,950
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	11,223	112,190

TOTAL SHORT-TERM INVESTMENTS (Cost $110,471)		$112,190
Total investments (Cost $56,907,083) - 99.9%		$57,388,183
Other assets and liabilities, net - 0.1%		45,854
TOTAL NET ASSETS - 100.0%		$57,434,037

MULTIMANAGER 2060 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 91.0%
Equity - 86.0%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	281,406	$12,863,067
Capital Appreciation, Class NAV, JHF II (Jennison)	672,300	8,948,313
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	691,714	6,294,595
Disciplined Value, Class NAV, JHF III (Boston Partners)	503,310	11,329,507
Disciplined Value International, Class NAV, JHIT (Boston Partners)	726,900	10,736,314

MULTIMANAGER 2060 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	1,898,673	$16,822,239
Equity Income, Class NAV, JHF II (T. Rowe Price)	830,253	15,475,915
Financial Industries, Class NAV, JHIT II (MIM US) (B)	152,030	2,166,428
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	142,964	9,348,398
International Dynamic Growth, Class NAV, JHIT (Axiom)	432,793	4,345,246
International Growth, Class NAV, JHF III (Wellington)	198,682	4,808,103
International Small Company, Class NAV, JHF II (DFA)	415,348	4,203,325
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	3,388,042	31,407,154
Mid Cap Growth, Class NAV, JHIT (Wellington)	828,800	11,570,053
Mid Value, Class NAV, JHF II (T. Rowe Price)	883,917	14,513,915
Small Cap Growth, Class NAV, JHF II (Redwood) (C)	161,459	2,257,202
Small Cap Value, Class NAV, JHF II (Wellington)	147,186	2,614,019
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	3,944,794	37,870,026
Fixed income - 2.9%
Bond, Class NAV, JHSB (MIM US) (B)	117,403	1,555,591
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	181,328	1,318,258
High Yield, Class NAV, JHBT (MIM US) (B)	424,498	1,252,270
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	311,586	2,863,480
Alternative and specialty - 2.1%
Health Sciences, Class NAV, JHF II (T. Rowe Price)	586,044	2,830,594
Science & Technology, Class NAV, JHF II (T. Rowe Price)	1,314,986	2,196,027

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $220,235,892)		$219,590,039
UNAFFILIATED INVESTMENT COMPANIES - 6.6%
Equity - 6.6%
Fidelity Emerging Markets Index Fund	255,691	2,521,116
Fidelity International Index Fund	52,677	2,404,171
Fidelity Mid Cap Index Fund	209,212	5,914,424
Fidelity Small Cap Index Fund	220,103	5,192,238

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $15,951,674)		$16,031,949
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	2,235	0
ICA Gruppen AB (C)(D)	96	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	4,248	1,949

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

MULTIMANAGER 2060 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Health care - 0.0%
NMC Health PLC (C)	70	$0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	298	898
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	9,053	248

TOTAL COMMON STOCKS (Cost $4,064)		$3,095
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 2.2%
U.S. Government - 2.2%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$2,803,400	873,784
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	5,391,600	1,703,834
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	5,067,700	1,664,403
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	2,770,000	945,121

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $6,679,353)		$5,187,142
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	53,472	534,537

TOTAL SHORT-TERM INVESTMENTS (Cost $534,501)		$534,537
Total investments (Cost $243,405,484) - 100.0%		$241,346,762
Other assets and liabilities, net - 0.0%		41,914
TOTAL NET ASSETS - 100.0%		$241,388,676

MULTIMANAGER 2055 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 91.0%
Equity - 86.0%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	420,137	$19,204,466
Capital Appreciation, Class NAV, JHF II (Jennison)	1,001,551	13,330,639
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	1,038,804	9,453,117
Disciplined Value, Class NAV, JHF III (Boston Partners)	763,748	17,191,974
Disciplined Value International, Class NAV, JHIT (Boston Partners)	1,084,627	16,019,941
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	2,838,623	25,150,198
Equity Income, Class NAV, JHF II (T. Rowe Price)	1,255,738	23,406,956
Financial Industries, Class NAV, JHIT II (MIM US) (B)	227,533	3,242,340
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	213,587	13,966,436
International Dynamic Growth, Class NAV, JHIT (Axiom)	644,818	6,473,975

MULTIMANAGER 2055 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
International Growth, Class NAV, JHF III (Wellington)	295,907	$7,160,954
International Small Company, Class NAV, JHF II (DFA)	620,801	6,282,502
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	5,046,683	46,782,751
Mid Cap Growth, Class NAV, JHIT (Wellington)	1,234,070	17,227,621
Mid Value, Class NAV, JHF II (T. Rowe Price)	1,318,919	21,656,644
Small Cap Growth, Class NAV, JHF II (Redwood) (C)	241,188	3,371,811
Small Cap Value, Class NAV, JHF II (Wellington)	220,251	3,911,663
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	5,912,763	56,762,526
Fixed income - 2.9%
Bond, Class NAV, JHSB (MIM US) (B)	174,729	2,315,156
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	269,510	1,959,339
High Yield, Class NAV, JHBT (MIM US) (B)	630,974	1,861,372
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	465,423	4,277,238
Alternative and specialty - 2.1%
Health Sciences, Class NAV, JHF II (T. Rowe Price)	875,536	4,228,841
Science & Technology, Class NAV, JHF II (T. Rowe Price)	1,963,173	3,278,499

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $326,835,971)		$328,516,959
UNAFFILIATED INVESTMENT COMPANIES - 6.6%
Equity - 6.6%
Fidelity Emerging Markets Index Fund	382,675	3,773,178
Fidelity International Index Fund	78,697	3,591,739
Fidelity Mid Cap Index Fund	312,140	8,824,191
Fidelity Small Cap Index Fund	328,389	7,746,707

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $23,951,855)		$23,935,815
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	3,720	0
ICA Gruppen AB (C)(D)	160	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	12,063	5,534
Health care - 0.0%
NMC Health PLC (C)	117	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	496	1,494
New World Development Company, Ltd.	3	6
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	15,065	413

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

MULTIMANAGER 2055 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value

TOTAL COMMON STOCKS (Cost $8,887)		$7,447
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 2.2%
U.S. Government - 2.2%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$4,230,500	$1,318,592
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	8,136,500	2,571,268
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	7,647,800	2,511,795
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	4,180,600	1,426,416

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $10,221,300)		$7,828,071
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	72,745	727,201

TOTAL SHORT-TERM INVESTMENTS (Cost $727,151)		$727,201
Total investments (Cost $361,745,164) - 100.0%		$361,015,493
Other assets and liabilities, net - 0.0%		56,639
TOTAL NET ASSETS - 100.0%		$361,072,132

MULTIMANAGER 2050 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 91.0%
Equity - 86.1%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	650,724	$29,744,573
Capital Appreciation, Class NAV, JHF II (Jennison)	1,546,145	20,579,184
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	1,603,319	14,590,200
Disciplined Value, Class NAV, JHF III (Boston Partners)	1,172,512	26,393,247
Disciplined Value International, Class NAV, JHIT (Boston Partners)	1,672,863	24,708,193
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	4,376,154	38,772,726
Equity Income, Class NAV, JHF II (T. Rowe Price)	1,914,206	35,680,809
Financial Industries, Class NAV, JHIT II (MIM US) (B)	348,546	4,966,783
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	331,432	21,672,320
International Dynamic Growth, Class NAV, JHIT (Axiom)	995,550	9,995,321
International Growth, Class NAV, JHF III (Wellington)	453,286	10,969,518
International Small Company, Class NAV, JHF II (DFA)	952,920	9,643,555
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	7,730,827	71,664,766
Mid Cap Growth, Class NAV, JHIT (Wellington)	1,900,860	26,536,001
Mid Value, Class NAV, JHF II (T. Rowe Price)	2,019,642	33,162,528
Small Cap Growth, Class NAV, JHF II (Redwood) (C)	368,421	5,150,524

MULTIMANAGER 2050 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
Small Cap Value, Class NAV, JHF II (Wellington)	339,339	$6,026,654
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	9,162,410	87,959,137
Fixed income - 2.8%
Bond, Class NAV, JHSB (MIM US) (B)	265,299	3,515,218
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	404,902	2,943,634
High Yield, Class NAV, JHBT (MIM US) (B)	947,950	2,796,452
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	699,233	6,425,953
Alternative and specialty - 2.1%
Health Sciences, Class NAV, JHF II (T. Rowe Price)	1,360,028	6,568,934
Science & Technology, Class NAV, JHF II (T. Rowe Price)	3,024,224	5,050,454

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $500,255,200)		$505,516,684
UNAFFILIATED INVESTMENT COMPANIES - 6.6%
Equity - 6.6%
Fidelity Emerging Markets Index Fund	586,680	5,784,664
Fidelity International Index Fund	120,552	5,502,011
Fidelity Mid Cap Index Fund	477,805	13,507,542
Fidelity Small Cap Index Fund	502,679	11,858,196

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $36,924,577)		$36,652,413
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	6,187	0
ICA Gruppen AB (C)(D)	266	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	24,454	11,219
Health care - 0.0%
NMC Health PLC (C)	194	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	825	2,485
New World Development Company, Ltd.	7	14
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	25,059	687

TOTAL COMMON STOCKS (Cost $16,649)		$14,405
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 2.2%
U.S. Government - 2.2%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$6,592,100	2,054,673
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	12,678,400	4,006,583
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	11,917,000	3,913,944
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	6,514,300	2,222,671

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

MULTIMANAGER 2050 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $16,017,532)		$12,197,871
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	97,397	$973,642

TOTAL SHORT-TERM INVESTMENTS (Cost $973,577)		$973,642
Total investments (Cost $554,187,535) - 100.0%		$555,355,015
Other assets and liabilities, net - 0.0%		75,985
TOTAL NET ASSETS - 100.0%		$555,431,000

MULTIMANAGER 2045 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 90.6%
Equity - 82.4%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	974,231	$44,532,104
Capital Appreciation, Class NAV, JHF II (Jennison)	2,302,631	30,648,014
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	2,462,832	22,411,770
Disciplined Value, Class NAV, JHF III (Boston Partners)	1,718,636	38,686,493
Disciplined Value International, Class NAV, JHIT (Boston Partners)	2,588,588	38,233,440
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	6,111,848	54,150,969
Equity Income, Class NAV, JHF II (T. Rowe Price)	2,853,693	53,192,844
Financial Industries, Class NAV, JHIT II (MIM US) (B)	519,861	7,408,017
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	488,960	31,973,097
International Dynamic Growth, Class NAV, JHIT (Axiom)	1,524,988	15,310,880
International Growth, Class NAV, JHF III (Wellington)	698,045	16,892,696
International Small Company, Class NAV, JHF II (DFA)	1,478,441	14,961,827
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	11,690,854	108,374,220
Mid Cap Growth, Class NAV, JHIT (Wellington)	2,726,541	38,062,513
Mid Value, Class NAV, JHF II (T. Rowe Price)	2,921,025	47,963,224
Small Cap Growth, Class NAV, JHF II (Redwood) (C)	519,464	7,262,102
Small Cap Value, Class NAV, JHF II (Wellington)	475,152	8,438,691
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	13,729,242	131,800,722
Fixed income - 5.3%
Bond, Class NAV, JHSB (MIM US) (B)	1,329,581	17,616,953
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	1,587,389	11,540,321

MULTIMANAGER 2045 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Fixed income - (continued)
High Yield, Class NAV, JHBT (MIM US) (B)	2,292,326	$6,762,363
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	1,050,305	9,652,306
Alternative and specialty - 2.9%
Diversified Real Assets, Class NAV, JHIT (MIM NA/Wellington) (B)	718,376	8,225,408
Health Sciences, Class NAV, JHF II (T. Rowe Price)	2,050,950	9,906,087
Science & Technology, Class NAV, JHF II (T. Rowe Price)	4,521,825	7,551,448

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $735,823,353)		$781,558,509
UNAFFILIATED INVESTMENT COMPANIES - 6.3%
Equity - 6.3%
Fidelity Emerging Markets Index Fund	777,482	7,665,975
Fidelity International Index Fund	185,694	8,475,094
Fidelity Mid Cap Index Fund	716,524	20,256,136
Fidelity Small Cap Index Fund	752,669	17,755,470

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $54,498,050)		$54,152,675
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	10,035	0
ICA Gruppen AB (C)(D)	431	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	45,339	20,800
Health care - 0.0%
NMC Health PLC (C)	315	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	1,338	4,031
New World Development Company, Ltd.	14	29
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	40,641	1,114

TOTAL COMMON STOCKS (Cost $29,417)		$25,974
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 2.8%
U.S. Government - 2.8%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$12,984,000	4,046,945
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	24,973,800	7,892,132
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	23,471,700	7,708,896
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	12,831,100	4,377,956

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $31,229,666)		$24,025,929
SHORT-TERM INVESTMENTS - 0.3%
Short-term funds - 0.3%
John Hancock Collateral Trust, 5.4789% (F)(G)	227,674	2,275,967

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

MULTIMANAGER 2045 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value

TOTAL SHORT-TERM INVESTMENTS (Cost $2,275,892)		$2,275,967
Total investments (Cost $823,856,378) - 100.0%		$862,039,054
Other assets and liabilities, net - 0.0%		112,100
TOTAL NET ASSETS - 100.0%		$862,151,154

MULTIMANAGER 2040 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 90.3%
Equity - 74.4%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	910,231	$41,606,656
Capital Appreciation, Class NAV, JHF II (Jennison)	2,155,612	28,691,199
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	2,356,469	21,443,872
Disciplined Value, Class NAV, JHF III (Boston Partners)	1,599,723	36,009,758
Disciplined Value International, Class NAV, JHIT (Boston Partners)	2,572,820	38,000,548
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	5,340,439	47,316,286
Equity Income, Class NAV, JHF II (T. Rowe Price)	2,660,910	49,599,364
Financial Industries, Class NAV, JHIT II (MIM US) (B)	535,683	7,633,489
Fundamental Global Franchise, Class NAV, JHF II (MIM US) (B)	274,593	3,108,390
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	378,337	24,739,483
Global Equity, Class NAV, JHF II (MIM US) (B)	264,994	3,087,179
International Dynamic Growth, Class NAV, JHIT (Axiom)	1,544,336	15,505,131
International Growth, Class NAV, JHF III (Wellington)	686,035	16,602,046
International Small Company, Class NAV, JHF II (DFA)	1,568,008	15,868,237
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	11,554,427	107,109,537
Mid Cap Growth, Class NAV, JHIT (Wellington)	2,433,049	33,965,367
Mid Value, Class NAV, JHF II (T. Rowe Price)	2,625,090	43,103,977
Small Cap Growth, Class NAV, JHF II (Redwood) (C)	427,632	5,978,300
Small Cap Value, Class NAV, JHF II (Wellington)	397,431	7,058,368
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	13,687,649	131,401,432
Fixed income - 11.4%
Bond, Class NAV, JHSB (MIM US) (B)	2,582,326	34,215,819
Core Bond, Class NAV, JHF II (Allspring Investments)	2,028,773	22,032,479
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	2,567,284	18,664,152
High Yield, Class NAV, JHBT (MIM US) (B)	4,544,200	13,405,390

MULTIMANAGER 2040 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Fixed income - (continued)
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	1,213,515	$11,152,200
Strategic Income Opportunities, Class NAV, JHF II (MIM US) (B)	468,282	4,547,017
Alternative and specialty - 4.5%
Diversified Real Assets, Class NAV, JHIT (MIM NA/Wellington) (B)	1,980,053	22,671,612
Health Sciences, Class NAV, JHF II (T. Rowe Price)	2,166,428	10,463,849
Science & Technology, Class NAV, JHF II (T. Rowe Price)	4,653,001	7,770,512

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $774,950,297)		$822,751,649
UNAFFILIATED INVESTMENT COMPANIES - 5.5%
Equity - 5.5%
Fidelity Emerging Markets Index Fund	436,818	4,307,023
Fidelity International Index Fund	183,489	8,374,433
Fidelity Mid Cap Index Fund	711,779	20,121,989
Fidelity Small Cap Index Fund	736,196	17,366,857

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $50,036,664)		$50,170,302
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	10,247	0
ICA Gruppen AB (C)(D)	440	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	49,809	22,851
Health care - 0.0%
NMC Health PLC (C)	321	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	1,366	4,116
New World Development Company, Ltd.	15	31
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	41,499	1,138

TOTAL COMMON STOCKS (Cost $31,532)		$28,136
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 4.0%
U.S. Government - 4.0%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$19,850,500	6,187,145
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	38,013,500	12,012,892
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	35,507,600	11,661,891
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	19,200,600	6,551,222

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $49,192,205)		$36,413,150
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	210,831	2,107,588

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

MULTIMANAGER 2040 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value

TOTAL SHORT-TERM INVESTMENTS (Cost $2,107,411)		$2,107,588
Total investments (Cost $876,318,109) - 100.0%		$911,470,825
Other assets and liabilities, net - 0.0%		113,977
TOTAL NET ASSETS - 100.0%		$911,584,802

MULTIMANAGER 2035 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 90.2%
Equity - 65.4%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	909,130	$41,556,348
Capital Appreciation, Class NAV, JHF II (Jennison)	2,161,869	28,774,474
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	3,765,342	34,264,616
Disciplined Value, Class NAV, JHF III (Boston Partners)	1,564,119	35,208,314
Disciplined Value International, Class NAV, JHIT (Boston Partners)	2,831,133	41,815,828
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	5,173,010	45,832,871
Equity Income, Class NAV, JHF II (T. Rowe Price)	2,600,413	48,471,698
Financial Industries, Class NAV, JHIT II (MIM US) (B)	589,790	8,404,512
Fundamental Global Franchise, Class NAV, JHF II (MIM US) (B)	451,849	5,114,927
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	325,528	21,286,268
Global Equity, Class NAV, JHF II (MIM US) (B)	554,603	6,461,128
International Dynamic Growth, Class NAV, JHIT (Axiom)	1,698,288	17,050,816
International Growth, Class NAV, JHF III (Wellington)	761,211	18,421,305
International Small Company, Class NAV, JHF II (DFA)	1,673,255	16,933,341
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	11,985,158	111,102,411
Mid Cap Growth, Class NAV, JHIT (Wellington)	2,328,941	32,512,015
Mid Value, Class NAV, JHF II (T. Rowe Price)	2,520,085	41,379,794
Small Cap Growth, Class NAV, JHF II (Redwood) (C)	371,022	5,186,894
Small Cap Value, Class NAV, JHF II (Wellington)	342,826	6,088,594
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	13,463,670	129,251,234
Fixed income - 19.1%
Bond, Class NAV, JHSB (MIM US) (B)	5,170,521	68,509,406
Core Bond, Class NAV, JHF II (Allspring Investments)	4,835,371	52,512,132
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	4,252,217	30,913,616
High Yield, Class NAV, JHBT (MIM US) (B)	8,247,465	24,330,023

MULTIMANAGER 2035 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Fixed income - (continued)
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	1,546,209	$14,209,658
Strategic Income Opportunities, Class NAV, JHF II (MIM US) (B)	1,256,001	12,195,766
Alternative and specialty - 5.7%
Diversified Real Assets, Class NAV, JHIT (MIM NA/Wellington) (B)	3,697,236	42,333,353
Health Sciences, Class NAV, JHF II (T. Rowe Price)	2,114,257	10,211,863
Science & Technology, Class NAV, JHF II (T. Rowe Price)	5,069,863	8,466,671

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $909,571,846)		$958,799,876
UNAFFILIATED INVESTMENT COMPANIES - 4.6%
Equity - 4.6%
Fidelity International Index Fund	203,179	9,273,094
Fidelity Mid Cap Index Fund	736,699	20,826,471
Fidelity Small Cap Index Fund	790,097	18,638,389

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $48,162,625)		$48,737,954
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	10,773	0
ICA Gruppen AB (C)(D)	463	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	52,909	24,273
Health care - 0.0%
NMC Health PLC (C)	338	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	1,436	4,327
New World Development Company, Ltd.	18	38
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	43,631	1,196

TOTAL COMMON STOCKS (Cost $33,383)		$29,834
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 5.0%
U.S. Government - 5.0%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$29,010,200	9,042,105
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	55,553,900	17,555,947
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	51,891,600	17,042,948
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	28,056,600	9,572,878

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $72,399,481)		$53,213,878
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	200,113	2,000,446

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

MULTIMANAGER 2035 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value

TOTAL SHORT-TERM INVESTMENTS (Cost $2,000,266)		$2,000,446
Total investments (Cost $1,032,167,601) - 100.0%		$1,062,781,988
Other assets and liabilities, net - (0.0%)		(115,984)
TOTAL NET ASSETS - 100.0%		$1,062,666,004

MULTIMANAGER 2030 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 89.5%
Equity - 54.4%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	723,238	$33,059,201
Capital Appreciation, Class NAV, JHF II (Jennison)	1,710,558	22,767,524
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	4,577,745	41,657,482
Disciplined Value, Class NAV, JHF III (Boston Partners)	1,268,741	28,559,367
Disciplined Value International, Class NAV, JHIT (Boston Partners)	2,747,006	40,573,279
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	4,160,862	36,865,236
Equity Income, Class NAV, JHF II (T. Rowe Price)	2,112,320	39,373,638
Financial Industries, Class NAV, JHIT II (MIM US) (B)	565,538	8,058,923
Fundamental Global Franchise, Class NAV, JHF II (MIM US) (B)	1,078,067	12,203,714
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	181,724	11,882,902
Global Equity, Class NAV, JHF II (MIM US) (B)	1,441,898	16,798,108
International Dynamic Growth, Class NAV, JHIT (Axiom)	1,657,255	16,638,840
International Growth, Class NAV, JHF III (Wellington)	725,393	17,554,512
International Small Company, Class NAV, JHF II (DFA)	1,735,442	17,562,670
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	11,518,450	106,776,029
Mid Cap Growth, Class NAV, JHIT (Wellington)	2,040,172	28,480,796
Mid Value, Class NAV, JHF II (T. Rowe Price)	2,207,634	36,249,350
Small Cap Value, Class NAV, JHF II (Wellington)	322,048	5,719,576
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	12,105,580	116,213,565
Fixed income - 27.9%
Bond, Class NAV, JHSB (MIM US) (B)	6,292,946	83,381,529
Core Bond, Class NAV, JHF II (Allspring Investments)	7,856,378	85,320,264
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	5,589,347	40,634,549
Floating Rate Income, Class NAV, JHF II (Bain Capital)	1,061,098	8,138,620
High Yield, Class NAV, JHBT (MIM US) (B)	11,200,154	33,040,456

MULTIMANAGER 2030 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Fixed income - (continued)
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	4,211,228	$38,701,188
Strategic Income Opportunities, Class NAV, JHF II (MIM US) (B)	3,859,195	37,472,783
Alternative and specialty - 7.2%
Diversified Real Assets, Class NAV, JHIT (MIM NA/Wellington) (B)	5,644,596	64,630,624
Health Sciences, Class NAV, JHF II (T. Rowe Price)	2,334,659	11,276,405
Science & Technology, Class NAV, JHF II (T. Rowe Price)	4,907,732	8,195,913

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,003,411,660)		$1,047,787,043
UNAFFILIATED INVESTMENT COMPANIES - 4.2%
Equity - 4.2%
Fidelity International Index Fund	194,616	8,882,266
Fidelity Mid Cap Index Fund	691,746	19,555,664
Fidelity Small Cap Index Fund	883,865	20,850,380

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $47,912,606)		$49,288,310
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	10,893	0
ICA Gruppen AB (C)(D)	468	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	59,458	27,277
Health care - 0.0%
NMC Health PLC (C)	342	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	1,452	4,375
New World Development Company, Ltd.	22	44
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	44,116	1,209

TOTAL COMMON STOCKS (Cost $36,289)		$32,905
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 6.1%
U.S. Government - 6.1%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$645,756	628,435
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	3,023,709	2,883,832
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	2,089,770	1,959,935
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	4,228,252	3,909,894
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	1,971,953	1,898,236
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	32,937,600	10,266,225
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	63,077,700	19,933,592

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

MULTIMANAGER 2030 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
U.S. Government - (continued)
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	58,920,900	$19,351,607
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	31,863,000	10,871,617

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $95,639,428)		$71,703,373
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	258,531	2,584,433

TOTAL SHORT-TERM INVESTMENTS (Cost $2,584,242)		$2,584,433
Total investments (Cost $1,149,584,225) - 100.0%		$1,171,396,064
Other assets and liabilities, net - 0.0%		135,119
TOTAL NET ASSETS - 100.0%		$1,171,531,183

MULTIMANAGER 2025 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 89.6%
Equity - 42.1%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	335,869	$15,352,559
Capital Appreciation, Class NAV, JHF II (Jennison)	802,617	10,682,834
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	4,604,495	41,900,906
Disciplined Value, Class NAV, JHF III (Boston Partners)	539,919	12,153,588
Disciplined Value International, Class NAV, JHIT (Boston Partners)	1,760,746	26,006,219
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	1,950,435	17,280,851
Equity Income, Class NAV, JHF II (T. Rowe Price)	897,761	16,734,268
Financial Industries, Class NAV, JHIT II (MIM US) (B)	383,812	5,469,315
Fundamental Global Franchise, Class NAV, JHF II (MIM US) (B)	1,260,452	14,268,319
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	112,749	7,372,626
Global Equity, Class NAV, JHF II (MIM US) (B)	1,306,229	15,217,572
International Dynamic Growth, Class NAV, JHIT (Axiom)	1,143,943	11,485,190
International Growth, Class NAV, JHF III (Wellington)	453,814	10,982,310
International Small Company, Class NAV, JHF II (DFA)	1,138,604	11,522,671
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	7,409,916	68,689,920
Mid Cap Growth, Class NAV, JHIT (Wellington)	1,181,607	16,495,236
Mid Value, Class NAV, JHF II (T. Rowe Price)	1,270,708	20,865,027
Small Cap Value, Class NAV, JHF II (Wellington)	251,170	4,460,772
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	6,323,475	60,705,356

MULTIMANAGER 2025 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Fixed income - 39.0%
Bond, Class NAV, JHSB (MIM US) (B)	7,029,053	$93,134,954
Core Bond, Class NAV, JHF II (Allspring Investments)	8,191,778	88,962,709
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	5,376,403	39,086,449
Floating Rate Income, Class NAV, JHF II (Bain Capital)	1,561,779	11,978,847
High Yield, Class NAV, JHBT (MIM US) (B)	11,106,319	32,763,641
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	5,289,971	48,614,837
Strategic Income Opportunities, Class NAV, JHF II (MIM US) (B)	4,641,027	45,064,377
Alternative and specialty - 8.5%
Diversified Real Assets, Class NAV, JHIT (MIM NA/Wellington) (B)	5,676,079	64,991,100
Health Sciences, Class NAV, JHF II (T. Rowe Price)	1,677,289	8,101,306
Science & Technology, Class NAV, JHF II (T. Rowe Price)	3,314,374	5,535,004

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $807,812,119)		$825,878,763
UNAFFILIATED INVESTMENT COMPANIES - 3.2%
Equity - 3.2%
Fidelity International Index Fund	121,572	5,548,557
Fidelity Mid Cap Index Fund	446,219	12,614,598
Fidelity Small Cap Index Fund	479,584	11,313,377

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $29,079,607)		$29,476,532
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	8,029	0
ICA Gruppen AB (C)(D)	345	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	43,019	19,736
Health care - 0.0%
NMC Health PLC (C)	252	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	1,071	3,225
New World Development Company, Ltd.	22	45
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	32,516	891

TOTAL COMMON STOCKS (Cost $26,404)		$23,897
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 6.9%
U.S. Government - 6.9%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$1,321,705	1,286,253
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	6,182,416	5,896,418

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

MULTIMANAGER 2025 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
U.S. Government - (continued)
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	4,363,576	$4,092,472
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	8,824,201	8,159,801
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	4,028,631	3,878,030
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	22,070,300	6,879,028
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	42,266,100	13,356,784
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	39,480,900	12,966,856
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	21,350,100	7,284,629

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $81,990,893)		$63,800,271
SHORT-TERM INVESTMENTS - 0.3%
Short-term funds - 0.3%
John Hancock Collateral Trust, 5.4789% (F)(G)	254,431	2,543,441

TOTAL SHORT-TERM INVESTMENTS (Cost $2,543,300)		$2,543,441
Total investments (Cost $921,452,323) - 100.0%		$921,722,904
Other assets and liabilities, net - 0.0%		128,279
TOTAL NET ASSETS - 100.0%		$921,851,183

MULTIMANAGER 2020 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 89.9%
Equity - 34.0%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	71,782	$3,281,171
Capital Appreciation, Class NAV, JHF II (Jennison)	171,752	2,286,018
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	2,314,538	21,062,297
Disciplined Value, Class NAV, JHF III (Boston Partners)	117,997	2,656,112
Disciplined Value International, Class NAV, JHIT (Boston Partners)	792,108	11,699,435
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	660,229	5,849,633
Equity Income, Class NAV, JHF II (T. Rowe Price)	196,317	3,659,356
Financial Industries, Class NAV, JHIT II (MIM US) (B)	205,219	2,924,371
Fundamental Global Franchise, Class NAV, JHF II (MIM US) (B)	653,161	7,393,786
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	67,180	4,392,893
Global Equity, Class NAV, JHF II (MIM US) (B)	662,648	7,719,853
Global Shareholder Yield, Class NAV, JHF III (Epoch)	380,582	4,034,170
International Dynamic Growth, Class NAV, JHIT (Axiom)	551,475	5,536,810
International Growth, Class NAV, JHF III (Wellington)	203,377	4,921,717

MULTIMANAGER 2020 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
International Small Company, Class NAV, JHF II (DFA)	481,616	$4,873,952
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	3,303,562	30,624,017
Mid Cap Growth, Class NAV, JHIT (Wellington)	442,217	6,173,348
Mid Value, Class NAV, JHF II (T. Rowe Price)	478,490	7,856,811
Small Cap Value, Class NAV, JHF II (Wellington)	133,348	2,368,253
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	2,804,116	26,919,510
Fixed income - 47.0%
Bond, Class NAV, JHSB (MIM US) (B)	4,451,862	58,987,169
Core Bond, Class NAV, JHF II (Allspring Investments)	5,484,907	59,566,089
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	3,148,455	22,889,265
Floating Rate Income, Class NAV, JHF II (Bain Capital)	1,206,706	9,255,436
High Yield, Class NAV, JHBT (MIM US) (B)	6,587,873	19,434,227
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	3,835,474	35,248,009
Strategic Income Opportunities, Class NAV, JHF II (MIM US) (B)	2,555,190	24,810,893
Alternative and specialty - 8.9%
Diversified Real Assets, Class NAV, JHIT (MIM NA/Wellington) (B)	3,192,588	36,555,130
Health Sciences, Class NAV, JHF II (T. Rowe Price)	829,583	4,006,886
Science & Technology, Class NAV, JHF II (T. Rowe Price)	1,751,121	2,924,371

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $440,704,361)		$439,910,988
UNAFFILIATED INVESTMENT COMPANIES - 2.4%
Equity - 2.4%
Fidelity International Index Fund	53,913	2,460,590
Fidelity Mid Cap Index Fund	197,458	5,582,145
Fidelity Small Cap Index Fund	162,142	3,824,931

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $11,655,323)		$11,867,666
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	3,589	0
ICA Gruppen AB (C)(D)	154	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	19,966	9,160
Health care - 0.0%
NMC Health PLC (C)	113	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	479	1,441
New World Development Company, Ltd.	16	33

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

MULTIMANAGER 2020 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	14,534	$398

TOTAL COMMON STOCKS (Cost $12,117)		$11,032
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 7.4%
U.S. Government - 7.4%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$1,139,387	1,108,826
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	5,327,543	5,081,092
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	3,785,643	3,550,446
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	7,653,360	7,077,116
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	3,469,735	3,340,027
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	8,846,900	2,757,465
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	16,945,200	5,354,962
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	15,828,300	5,198,547
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	8,560,300	2,920,764

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $44,667,313)		$36,389,245
SHORT-TERM INVESTMENTS - 0.3%
Short-term funds - 0.3%
John Hancock Collateral Trust, 5.4789% (F)(G)	143,146	1,430,971

TOTAL SHORT-TERM INVESTMENTS (Cost $1,430,893)		$1,430,971
Total investments (Cost $498,470,007) - 100.0%		$489,609,902
Other assets and liabilities, net - 0.0%		72,168
TOTAL NET ASSETS - 100.0%		$489,682,070

MULTIMANAGER 2015 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 89.6%
Equity - 28.9%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	27,949	$1,277,544
Capital Appreciation, Class NAV, JHF II (Jennison)	66,817	889,328
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	830,969	7,561,821
Disciplined Value, Class NAV, JHF III (Boston Partners)	46,220	1,040,417
Disciplined Value International, Class NAV, JHIT (Boston Partners)	263,340	3,889,538
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	98,924	876,467
Equity Income, Class NAV, JHF II (T. Rowe Price)	76,913	1,433,661
Fundamental Global Franchise, Class NAV, JHF II (MIM US) (B)	199,155	2,254,431

MULTIMANAGER 2015 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	21,090	$1,379,101
Global Equity, Class NAV, JHF II (MIM US) (B)	242,987	2,830,795
Global Shareholder Yield, Class NAV, JHF III (Epoch)	171,608	1,819,045
International Dynamic Growth, Class NAV, JHIT (Axiom)	162,436	1,630,856
International Growth, Class NAV, JHF III (Wellington)	64,861	1,569,642
International Small Company, Class NAV, JHF II (DFA)	129,946	1,315,052
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	1,017,769	9,434,723
Mid Cap Growth, Class NAV, JHIT (Wellington)	105,773	1,476,594
Mid Value, Class NAV, JHF II (T. Rowe Price)	113,994	1,871,781
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	853,112	8,189,876
Fixed income - 53.2%
Bond, Class NAV, JHSB (MIM US) (B)	1,815,512	24,055,532
Core Bond, Class NAV, JHF II (Allspring Investments)	2,181,090	23,686,633
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	1,194,015	8,680,489
Floating Rate Income, Class NAV, JHF II (Bain Capital)	567,292	4,351,132
High Yield, Class NAV, JHBT (MIM US) (B)	2,510,279	7,405,322
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	1,712,085	15,734,061
Strategic Income Opportunities, Class NAV, JHF II (MIM US) (B)	962,949	9,350,233
Alternative and specialty - 7.5%
Diversified Real Assets, Class NAV, JHIT (MIM NA/Wellington) (B)	1,148,589	13,151,344

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $158,529,862)		$157,155,418
UNAFFILIATED INVESTMENT COMPANIES - 2.3%
Equity - 2.3%
Fidelity International Index Fund	18,461	842,541
Fidelity Mid Cap Index Fund	58,357	1,649,751
Fidelity Small Cap Index Fund	66,758	1,574,821

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $3,887,755)		$4,067,113
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	1,099	0
ICA Gruppen AB (C)(D)	47	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	5,942	2,726
Health care - 0.0%
NMC Health PLC (C)	34	0

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

MULTIMANAGER 2015 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	147	$442
New World Development Company, Ltd.	6	13
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	4,452	122

TOTAL COMMON STOCKS (Cost $3,638)		$3,303
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 7.9%
U.S. Government - 7.9%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$563,783	548,661
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	2,638,201	2,516,158
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	1,857,108	1,741,728
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	3,754,232	3,471,565
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	1,719,102	1,654,838
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	2,151,400	670,564
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	4,120,200	1,302,051
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	3,848,300	1,263,911
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	2,081,100	710,069

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $16,316,395)		$13,879,545
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	35,354	353,423

TOTAL SHORT-TERM INVESTMENTS (Cost $353,374)		$353,423
Total investments (Cost $179,091,024) - 100.0%		$175,458,802
Other assets and liabilities, net - 0.0%		33,125
TOTAL NET ASSETS - 100.0%		$175,491,927

MULTIMANAGER 2010 LIFETIME PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 89.7%
Equity - 22.9%
Blue Chip Growth, Class NAV, JHF II (T. Rowe Price)	20,994	$959,653
Capital Appreciation Value, Class NAV, JHF II (T. Rowe Price)	591,154	5,379,503
Disciplined Value International, Class NAV, JHIT (Boston Partners)	165,640	2,446,508
Equity Income, Class NAV, JHF II (T. Rowe Price)	34,443	642,019
Fundamental Global Franchise, Class NAV, JHF II (MIM US) (B)	152,332	1,724,395
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	13,320	870,990

MULTIMANAGER 2010 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
Global Equity, Class NAV, JHF II (MIM US) (B)	170,277	$1,983,725
Global Shareholder Yield, Class NAV, JHF III (Epoch)	156,437	1,658,228
International Dynamic Growth, Class NAV, JHIT (Axiom)	107,626	1,080,564
International Growth, Class NAV, JHF III (Wellington)	40,420	978,163
International Small Company, Class NAV, JHF II (DFA)	64,353	651,256
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	658,610	6,105,310
Mid Cap Growth, Class NAV, JHIT (Wellington)	38,795	541,584
Mid Value, Class NAV, JHF II (T. Rowe Price)	41,979	689,289
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	440,501	4,228,808
Fixed income - 59.3%
Bond, Class NAV, JHSB (MIM US) (B)	1,434,155	19,002,554
Core Bond, Class NAV, JHF II (Allspring Investments)	1,806,150	19,614,789
Emerging Markets Debt, Class NAV, JHF II (MIM US) (B)	931,984	6,775,526
Floating Rate Income, Class NAV, JHF II (Bain Capital)	527,527	4,046,133
High Yield, Class NAV, JHBT (MIM US) (B)	1,975,395	5,827,415
Short Duration Bond, Class NAV, JHBT (MIM US) (B)	1,618,861	14,877,328
Strategic Income Opportunities, Class NAV, JHF II (MIM US) (B)	750,299	7,285,408
Alternative and specialty - 7.5%
Diversified Real Assets, Class NAV, JHIT (MIM NA/Wellington) (B)	853,174	9,768,837

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $119,244,511)		$117,137,985
UNAFFILIATED INVESTMENT COMPANIES - 1.7%
Equity - 1.7%
Fidelity International Index Fund	14,067	642,003
Fidelity Mid Cap Index Fund	33,288	941,057
Fidelity Small Cap Index Fund	29,076	685,897

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $2,096,727)		$2,268,957
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	648	0
ICA Gruppen AB (C)(D)	28	0
Energy - 0.0%
Sakari Resources, Ltd. (C)(D)(H)	2,849	1,307
Health care - 0.0%
NMC Health PLC (C)	20	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	86	260
New World Development Company, Ltd.	4	8

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

MULTIMANAGER 2010 LIFETIME PORTFOLIO (continued)

	Shares or Principal Amount	Value
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	2,622	$72

TOTAL COMMON STOCKS (Cost $1,865)		$1,647
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 8.3%
U.S. Government - 8.3%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$524,853	510,775
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	2,455,486	2,341,896
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	1,734,030	1,626,297
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	3,505,066	3,241,160
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	1,599,695	1,539,894
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	837,800	261,131
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	1,604,400	507,017
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	1,498,500	492,158
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	810,300	276,473

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $12,134,959)		$10,796,801
SHORT-TERM INVESTMENTS - 0.3%
Short-term funds - 0.3%
John Hancock Collateral Trust, 5.4789% (F)(G)	36,741	367,286

TOTAL SHORT-TERM INVESTMENTS (Cost $367,263)		$367,286
Total investments (Cost $133,845,325) - 100.0%		$130,572,676
Other assets and liabilities, net - 0.0%		31,558
TOTAL NET ASSETS - 100.0%		$130,604,234

Percentages are based upon net assets.

Currency Abbreviations

Security Abbreviations and Legend

JHBT	John Hancock Bond Trust
JHF II	John Hancock Funds II
JHF III	John Hancock Funds III
JHIT	John Hancock Investment Trust
JHIT II	John Hancock Investment Trust II
JHSB	John Hancock Sovereign Bond Fund
PO	Principal-Only Security - (Principal Tranche of Stripped Security). Rate shown is the annualized yield on date of purchase.
STRIPS	Separate Trading of Registered Interest and Principal Securities
(A)	The underlying funds’ subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.
(C)	Non-income producing.
(D)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(E)	These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(F)	The rate shown is the annualized seven-day yield as of 8-31-23.
(G)	Investment is an affiliate of the fund, the advisor and/or subadvisor.
(H)	Restricted security as to resale, excluding 144A securities.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Financial statements

STATEMENTS OF ASSETS AND LIABILITIES 8-31-23

	Multimanager 2065 Lifetime Portfolio	Multimanager 2060 Lifetime Portfolio	Multimanager 2055 Lifetime Portfolio	Multimanager 2050 Lifetime Portfolio
Assets
Unaffiliated investments, at value	$4,988,160	$21,222,186	$31,771,333	$48,864,689
Affiliated investments, at value	52,400,023	220,124,576	329,244,160	506,490,326
Total investments, at value	57,388,183	241,346,762	361,015,493	555,355,015
Dividends and interest receivable	10,689	56,514	91,158	145,513
Receivable for fund shares sold	123,507	202,989	39,720	44,344
Receivable for investments sold	—	—	89,023	622,186
Receivable from affiliates	1,019	2,319	2,948	3,922
Other assets	58,630	43,779	49,098	55,096
Total assets	57,582,028	241,652,363	361,287,440	556,226,076
Liabilities
Payable for investments purchased	130,762	231,938	46,083	69,750
Payable for fund shares repurchased	131	961	128,743	665,644
Payable to affiliates
Accounting and legal services fees	2,757	12,030	18,150	28,146
Transfer agent fees	76	1,138	3,292	8,071
Distribution and service fees	3	310	402	1,129
Trustees’ fees	4	16	25	38
Other liabilities and accrued expenses	14,258	17,294	18,613	22,298
Total liabilities	147,991	263,687	215,308	795,076
Net assets	$57,434,037	$241,388,676	$361,072,132	$555,431,000
Net assets consist of
Paid-in capital	$58,737,942	$249,757,428	$372,148,973	$569,267,256
Total distributable earnings (loss)	(1,303,905)	(8,368,752)	(11,076,841)	(13,836,256)
Net assets	$57,434,037	$241,388,676	$361,072,132	$555,431,000
Unaffiliated investments, at cost	$5,163,417	$22,635,091	$34,182,042	$52,958,758
Affiliated investments, at cost	51,743,666	220,770,393	327,563,122	501,228,777
Total investments, at cost	56,907,083	243,405,484	361,745,164	554,187,535
Net asset value per share
The portfolios have an unlimited number of shares authorized with no par value. 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	$461,249	$10,100,773	$30,960,421	$77,454,785
Shares outstanding	40,553	853,647	2,984,287	7,232,353
Net asset value and redemption price per share	$11.37	$11.83	$10.37	$10.71
Class I
Net assets	$123,962	$46,723	$79,426	$151,139
Shares outstanding	10,877	3,933	7,629	14,062
Net asset value, offering price and redemption price per share	$11.40	$11.88	$10.41	$10.75
Class R2
Net assets	$58,081	$914,969	$1,040,931	$3,853,061
Shares outstanding	5,102	77,373	100,473	360,127
Net asset value, offering price and redemption price per share	$11.38	$11.83	$10.36	$10.70
Class R4
Net assets	$56,955	$64,215	$43,843	$1,606,845
Shares outstanding	5,000	5,410	4,211	149,889
Net asset value, offering price and redemption price per share	$11.39	$11.87	$10.41	$10.72
Class R5
Net assets	$192,090	$2,835,051	$4,521,872	$4,681,504
Shares outstanding	16,848	238,799	433,784	435,200
Net asset value, offering price and redemption price per share	$11.40	$11.87	$10.42	$10.76
Class R6
Net assets	$3,986,928	$25,496,077	$38,921,721	$57,495,785
Shares outstanding	349,517	2,144,278	3,734,144	5,341,588
Net asset value, offering price and redemption price per share	$11.41	$11.89	$10.42	$10.76
Class 1
Net assets	$52,554,772	$201,930,868	$285,503,918	$410,187,881
Shares outstanding	4,610,658	16,995,306	27,411,322	38,189,934
Net asset value, offering price and redemption price per share	$11.40	$11.88	$10.42	$10.74
Maximum offering price per share
Class A (net asset value per share ÷ 95%)²	$11.97	$12.45	$10.92	$11.27


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.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES 8-31-23

Continued

	Multimanager 2045 Lifetime Portfolio	Multimanager 2040 Lifetime Portfolio	Multimanager 2035 Lifetime Portfolio	Multimanager 2030 Lifetime Portfolio
Assets
Unaffiliated investments, at value	$78,204,578	$86,611,588	$101,981,666	$121,024,588
Affiliated investments, at value	783,834,476	824,859,237	960,800,322	1,050,371,476
Total investments, at value	862,039,054	911,470,825	1,062,781,988	1,171,396,064
Dividends and interest receivable	328,589	488,591	778,860	1,188,520
Receivable for fund shares sold	38,657	56,869	57,343	27,486
Receivable for investments sold	1,151,683	1,688,463	6,173,263	4,944,660
Receivable from affiliates	6,026	6,114	6,650	7,614
Other assets	64,899	67,432	76,077	82,424
Total assets	863,628,908	913,778,294	1,069,874,181	1,177,646,768
Liabilities
Payable for investments purchased	200,084	356,795	639,833	1,027,835
Payable for fund shares repurchased	1,190,025	1,743,718	6,461,276	4,968,851
Payable to affiliates
Accounting and legal services fees	44,000	46,646	54,573	60,455
Transfer agent fees	14,796	16,907	19,659	23,502
Distribution and service fees	1,590	1,405	2,380	2,493
Trustees’ fees	60	64	74	82
Other liabilities and accrued expenses	27,199	27,957	30,382	32,367
Total liabilities	1,477,754	2,193,492	7,208,177	6,115,585
Net assets	$862,151,154	$911,584,802	$1,062,666,004	$1,171,531,183
Net assets consist of
Paid-in capital	$834,045,376	$891,941,937	$1,053,584,409	$1,178,195,229
Total distributable earnings (loss)	28,105,778	19,642,865	9,081,595	(6,664,046)
Net assets	$862,151,154	$911,584,802	$1,062,666,004	$1,171,531,183
Unaffiliated investments, at cost	$85,757,133	$99,260,401	$120,595,489	$143,588,323
Affiliated investments, at cost	738,099,245	777,057,708	911,572,112	1,005,995,902
Total investments, at cost	823,856,378	876,318,109	1,032,167,601	1,149,584,225
Net asset value per share
The portfolios have an unlimited number of shares authorized with no par value. 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	$143,190,850	$164,165,706	$191,071,942	$225,785,507
Shares outstanding	15,716,145	17,742,284	21,077,279	25,319,121
Net asset value and redemption price per share	$9.11	$9.25	$9.07	$8.92
Class I
Net assets	$400,865	$532,529	$96,116	$1,422,198
Shares outstanding	43,543	56,944	10,535	159,959
Net asset value, offering price and redemption price per share	$9.21	$9.35	$9.12	$8.89
Class R2
Net assets	$6,257,527	$5,250,024	$9,314,601	$9,418,123
Shares outstanding	682,818	565,275	1,020,911	1,067,471
Net asset value, offering price and redemption price per share	$9.16	$9.29	$9.12	$8.82
Class R4
Net assets	$308,403	$496,825	$205,409	$916,325
Shares outstanding	33,687	53,614	22,469	103,467
Net asset value, offering price and redemption price per share	$9.15	$9.27	$9.14	$8.86
Class R5
Net assets	$5,845,860	$6,430,692	$10,091,871	$10,747,408
Shares outstanding	632,272	686,507	1,100,782	1,210,490
Net asset value, offering price and redemption price per share	$9.25	$9.37	$9.17	$8.88
Class R6
Net assets	$72,695,434	$77,693,507	$89,702,227	$98,308,920
Shares outstanding	7,890,285	8,324,676	9,795,799	11,074,161
Net asset value, offering price and redemption price per share	$9.21	$9.33	$9.16	$8.88
Class 1
Net assets	$633,452,215	$657,015,519	$762,183,838	$824,932,702
Shares outstanding	68,675,922	70,294,222	83,124,218	92,833,232
Net asset value, offering price and redemption price per share	$9.22	$9.35	$9.17	$8.89
Maximum offering price per share
Class A (net asset value per share ÷ 95%)²	$9.59	$9.74	$9.55	$9.39


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

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES 8-31-23

Continued

	Multimanager 2025 Lifetime Portfolio	Multimanager 2020 Lifetime Portfolio	Multimanager 2015 Lifetime Portfolio	Multimanager 2010 Lifetime Portfolio
Assets
Unaffiliated investments, at value	$93,300,700	$48,267,943	$17,949,961	$13,067,405
Affiliated investments, at value	828,422,204	441,341,959	157,508,841	117,505,271
Total investments, at value	921,722,904	489,609,902	175,458,802	130,572,676
Dividends and interest receivable	1,290,935	806,812	328,555	268,871
Receivable for fund shares sold	30,250	12,898	151	766
Receivable for investments sold	1,937,657	2,064,410	368,221	215,205
Receivable from affiliates	6,203	3,709	1,858	1,646
Other assets	74,677	54,380	37,371	34,924
Total assets	925,062,626	492,552,111	176,194,958	131,094,088
Liabilities
Due to custodian	—	—	82	—
Payable for investments purchased	1,150,291	729,199	300,073	247,361
Payable for fund shares repurchased	1,961,438	2,076,302	368,372	215,971
Payable to affiliates
Accounting and legal services fees	47,982	25,542	9,127	6,709
Transfer agent fees	20,257	16,594	7,939	4,087
Distribution and service fees	2,141	1,229	124	111
Trustees’ fees	65	34	12	9
Other liabilities and accrued expenses	29,269	21,141	17,302	15,606
Total liabilities	3,211,443	2,870,041	703,031	489,854
Net assets	$921,851,183	$489,682,070	$175,491,927	$130,604,234
Net assets consist of
Paid-in capital	$942,520,642	$510,394,814	$181,698,957	$136,943,466
Total distributable earnings (loss)	(20,669,459)	(20,712,744)	(6,207,030)	(6,339,232)
Net assets	$921,851,183	$489,682,070	$175,491,927	$130,604,234
Unaffiliated investments, at cost	$111,096,904	$56,334,753	$20,207,788	$14,233,551
Affiliated investments, at cost	810,355,419	442,135,254	158,883,236	119,611,774
Total investments, at cost	921,452,323	498,470,007	179,091,024	133,845,325
Net asset value per share
The portfolios have an unlimited number of shares authorized with no par value. 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	$195,705,750	$161,771,737	$77,801,931	$39,826,010
Shares outstanding	22,882,949	20,745,225	10,748,723	5,414,647
Net asset value and redemption price per share	$8.55	$7.80	$7.24	$7.36
Class I
Net assets	$1,622,916	$921,470	$702,842	$279,037
Shares outstanding	190,611	117,983	97,082	37,941
Net asset value, offering price and redemption price per share	$8.51	$7.81	$7.24	$7.35
Class R2
Net assets	$7,928,548	$4,220,083	$492,863	$131,970
Shares outstanding	936,365	544,950	68,623	17,971
Net asset value, offering price and redemption price per share	$8.47	$7.74	$7.18	$7.34
Class R4
Net assets	$696,789	$341,712	$17,621	$59,741
Shares outstanding	81,814	44,113	2,429	8,129
Net asset value, offering price and redemption price per share	$8.52	$7.75	$7.25	$7.35
Class R5
Net assets	$9,373,385	$7,670,234	$487,228	$1,458,161
Shares outstanding	1,102,227	984,275	67,386	198,268
Net asset value, offering price and redemption price per share	$8.50	$7.79	$7.23	$7.35
Class R6
Net assets	$69,535,399	$31,412,557	$10,008,085	$10,419,953
Shares outstanding	8,185,359	4,042,411	1,381,856	1,414,469
Net asset value, offering price and redemption price per share	$8.50	$7.77	$7.24	$7.37
Class 1
Net assets	$636,988,396	$283,344,277	$85,981,357	$78,429,362
Shares outstanding	74,874,335	36,377,650	11,881,879	10,651,082
Net asset value, offering price and redemption price per share	$8.51	$7.79	$7.24	$7.36
Maximum offering price per share
Class A (net asset value per share ÷ 95%)²	$9.00	$8.21	$7.62	$7.75


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.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Table of Contents

STATEMENTS OF OPERATIONS For the year ended 8-31-23

	Multimanager 2065 Lifetime Portfolio	Multimanager 2060 Lifetime Portfolio	Multimanager 2055 Lifetime Portfolio	Multimanager 2050 Lifetime Portfolio
Investment income
Dividends from affiliated investments	$437,242	$2,305,787	$3,639,788	$5,741,351
Dividends from unaffiliated investments	50,350	264,722	420,335	660,939
Interest	29,588	169,249	264,268	416,540
Other income received from advisor	26,490	133,142	175,248	224,473
Total investment income	543,670	2,872,900	4,499,639	7,043,303
Expenses
Investment management fees	87,565	438,704	682,981	1,073,355
Distribution and service fees	20,546	122,957	224,716	443,227
Accounting and legal services fees	8,649	43,520	67,876	106,859
Transfer agent fees	633	12,915	36,641	90,605
Trustees’ fees	892	4,902	7,779	12,340
Custodian fees	30,752	32,252	32,252	32,252
State registration fees	94,133	89,824	90,215	90,944
Printing and postage	13,961	10,695	11,799	15,169
Professional fees	39,756	57,603	62,334	69,832
Other	15,979	19,532	21,472	24,873
Total expenses	312,866	832,904	1,238,065	1,959,456
Less expense reductions	(291,741)	(697,097)	(976,749)	(1,427,091)
Net expenses	21,125	135,807	261,316	532,365
Net investment income	522,545	2,737,093	4,238,323	6,510,938
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments	(244,547)	(1,390,772)	(2,218,804)	(3,456,046)
Affiliated investments	(2,455,662)	(9,852,909)	(16,501,637)	(23,622,824)
Capital gain distributions received from affiliated investments	1,584,809	8,599,996	13,670,377	21,640,339
	(1,115,400)	(2,643,685)	(5,050,064)	(5,438,531)
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments	211,710	1,127,291	1,718,701	2,660,233
Affiliated investments	5,037,491	20,922,186	32,728,624	49,202,383
	5,249,201	22,049,477	34,447,325	51,862,616
Net realized and unrealized gain	4,133,801	19,405,792	29,397,261	46,424,085
Increase in net assets from operations	$4,656,346	$22,142,885	$33,635,584	$52,935,023

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ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

STATEMENTS OF OPERATIONS For the year ended 8-31-23

Continued

	Multimanager 2045 Lifetime Portfolio	Multimanager 2040 Lifetime Portfolio	Multimanager 2035 Lifetime Portfolio	Multimanager 2030 Lifetime Portfolio
Investment income
Dividends from affiliated investments	$9,906,843	$12,206,282	$16,808,168	$22,705,822
Dividends from unaffiliated investments	1,024,211	982,093	1,039,952	1,113,328
Interest	835,702	1,456,494	2,291,432	3,193,180
Other income received from advisor	477,077	365,532	179,144	259,957
Total investment income	12,243,833	15,010,401	20,318,696	27,272,287
Expenses
Investment management fees	1,758,484	1,950,664	2,417,653	2,832,840
Distribution and service fees	751,408	827,752	979,885	1,137,275
Accounting and legal services fees	170,289	181,742	213,724	241,693
Transfer agent fees	165,174	190,267	221,879	266,364
Trustees’ fees	19,868	21,275	25,059	28,605
Custodian fees	32,252	32,252	32,252	32,252
State registration fees	91,212	92,662	92,160	92,971
Printing and postage	16,833	16,835	17,813	18,805
Professional fees	82,032	84,169	90,291	95,638
Other	30,161	31,165	33,783	36,243
Total expenses	3,117,713	3,428,783	4,124,499	4,782,686
Less expense reductions	(2,201,402)	(2,411,199)	(2,922,917)	(3,379,892)
Net expenses	916,311	1,017,584	1,201,582	1,402,794
Net investment income	11,327,522	13,992,817	19,117,114	25,869,493
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments	(5,598,295)	(10,072,648)	(17,250,663)	(25,654,896)
Affiliated investments	(26,374,872)	(25,614,039)	(24,955,369)	(28,374,955)
Capital gain distributions received from affiliated investments	33,795,969	32,515,974	34,639,891	34,826,030
	1,822,802	(3,170,713)	(7,566,141)	(19,203,821)
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments	3,164,691	3,894,435	6,390,994	11,410,858
Affiliated investments	65,130,370	63,016,128	61,702,001	60,017,000
	68,295,061	66,910,563	68,092,995	71,427,858
Net realized and unrealized gain	70,117,863	63,739,850	60,526,854	52,224,037
Increase in net assets from operations	$81,445,385	$77,732,667	$79,643,968	$78,093,530

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Table of Contents

STATEMENTS OF OPERATIONS For the year ended 8-31-23

Continued

	Multimanager 2025 Lifetime Portfolio	Multimanager 2020 Lifetime Portfolio	Multimanager 2015 Lifetime Portfolio	Multimanager 2010 Lifetime Portfolio
Investment income
Dividends from affiliated investments	$22,706,827	$14,083,940	$5,485,467	$4,401,056
Dividends from unaffiliated investments	659,249	299,872	76,116	48,628
Interest	2,910,801	1,560,005	555,236	409,683
Other income received from advisor	176,191	121,907	42,818	43,273
Total investment income	26,453,068	16,065,724	6,159,637	4,902,640
Expenses
Investment management fees	2,486,121	1,404,867	510,818	386,836
Distribution and service fees	982,726	683,010	289,492	167,632
Accounting and legal services fees	199,164	107,297	38,142	28,193
Transfer agent fees	237,657	195,832	93,969	48,505
Trustees’ fees	24,022	12,999	4,601	3,405
Custodian fees	32,252	32,252	32,252	32,252
State registration fees	92,278	90,289	88,695	91,421
Printing and postage	18,166	15,106	13,998	11,627
Professional fees	87,663	69,957	56,638	54,698
Other	33,607	25,314	19,880	18,885
Total expenses	4,193,656	2,636,923	1,148,485	843,454
Less expense reductions	(2,973,943)	(1,758,386)	(765,042)	(627,373)
Net expenses	1,219,713	878,537	383,443	216,081
Net investment income	25,233,355	15,187,187	5,776,194	4,686,559
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments	(23,047,386)	(10,112,279)	(2,647,509)	(1,309,673)
Affiliated investments	(19,738,366)	(10,157,758)	(2,790,534)	(3,121,464)
Capital gain distributions received from affiliated investments	25,274,079	11,092,661	3,290,476	2,045,086
	(17,511,673)	(9,177,376)	(2,147,567)	(2,386,051)
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments	11,561,727	5,138,889	1,297,963	661,641
Affiliated investments	33,556,379	13,670,672	3,439,248	2,985,639
	45,118,106	18,809,561	4,737,211	3,647,280
Net realized and unrealized gain	27,606,433	9,632,185	2,589,644	1,261,229
Increase in net assets from operations	$52,839,788	$24,819,372	$8,365,838	$5,947,788

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Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

	Multimanager 2065 Lifetime Portfolio		Multimanager 2060 Lifetime Portfolio		Multimanager 2055 Lifetime Portfolio
	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22
Increase (decrease) in net assets
From operations
Net investment income	$522,545	$228,568	$2,737,093	$2,386,115	$4,238,323	$4,003,548
Net realized gain (loss)	(1,115,400)	805,720	(2,643,685)	25,154,493	(5,050,064)	44,552,842
Change in net unrealized appreciation (depreciation)	5,249,201	(5,713,999)	22,049,477	(67,722,589)	34,447,325	(115,402,629)
Increase (decrease) in net assets resulting from operations	4,656,346	(4,679,711)	22,142,885	(40,181,981)	33,635,584	(66,846,239)
Distributions to shareholders
From earnings
Class A	(8,169)	(6,536)	(1,133,010)	(987,289)	(3,574,242)	(3,243,767)
Class I	(4,480)	(2,284)	(5,843)	(5,471)	(11,481)	(14,602)
Class R2	(2,192)	(2,185)	(85,120)	(54,787)	(124,787)	(99,159)
Class R4	(2,240)	(2,258)	(8,223)	(9,723)	(5,675)	(5,344)
Class R5	(4,022)	(2,397)	(173,313)	(99,860)	(399,896)	(280,501)
Class R6	(83,657)	(39,033)	(2,198,298)	(1,443,296)	(3,954,395)	(3,176,122)
Class 1	(1,495,583)	(609,369)	(21,003,115)	(15,612,019)	(33,044,014)	(25,964,198)
Total distributions	(1,600,343)	(664,062)	(24,606,922)	(18,212,445)	(41,114,490)	(32,783,693)
Portfolio share transactions
From portfolio share transactions	24,781,433	23,366,727	53,371,633	41,263,279	57,280,626	51,238,315
Total increase (decrease)	27,837,436	18,022,954	50,907,596	(17,131,147)	49,801,720	(48,391,617)
Net assets
Beginning of year	29,596,601	11,573,647	190,481,080	207,612,227	311,270,412	359,662,029
End of year	$57,434,037	$29,596,601	$241,388,676	$190,481,080	$361,072,132	$311,270,412

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

Continued

	Multimanager 2050 Lifetime Portfolio		Multimanager 2045 Lifetime Portfolio		Multimanager 2040 Lifetime Portfolio
	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22
Increase (decrease) in net assets
From operations
Net investment income	$6,510,938	$6,542,515	$11,327,522	$11,236,948	$13,992,817	$13,687,220
Net realized gain (loss)	(5,438,531)	82,917,691	1,822,802	161,741,970	(3,170,713)	163,935,655
Change in net unrealized appreciation (depreciation)	51,862,616	(201,176,098)	68,295,061	(354,116,506)	66,910,563	(369,179,746)
Increase (decrease) in net assets resulting from operations	52,935,023	(111,715,892)	81,445,385	(181,137,588)	77,732,667	(191,556,871)
Distributions to shareholders
From earnings
Class A	(11,152,688)	(8,398,965)	(25,774,536)	(14,479,270)	(28,342,793)	(17,377,221)
Class I	(20,774)	(17,197)	(58,260)	(26,764)	(98,153)	(116,888)
Class R2	(621,436)	(435,447)	(1,111,913)	(558,282)	(935,236)	(575,114)
Class R4	(221,142)	(150,453)	(48,987)	(22,664)	(75,603)	(38,063)
Class R5	(448,397)	(208,736)	(888,773)	(481,575)	(911,042)	(394,633)
Class R6	(7,020,412)	(5,001,548)	(12,102,926)	(6,350,938)	(12,455,339)	(7,190,630)
Class 1	(58,126,941)	(40,531,758)	(115,046,760)	(62,579,329)	(114,920,501)	(68,290,627)
Total distributions	(77,611,790)	(54,744,104)	(155,032,155)	(84,498,822)	(157,738,667)	(93,983,176)
Portfolio share transactions
From portfolio share transactions	81,848,242	53,523,682	124,230,799	60,528,012	122,920,339	49,808,278
Total increase (decrease)	57,171,475	(112,936,314)	50,644,029	(205,108,398)	42,914,339	(235,731,769)
Net assets
Beginning of year	498,259,525	611,195,839	811,507,125	1,016,615,523	868,670,463	1,104,402,232
End of year	$555,431,000	$498,259,525	$862,151,154	$811,507,125	$911,584,802	$868,670,463

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ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

Continued

	Multimanager 2035 Lifetime Portfolio		Multimanager 2030 Lifetime Portfolio		Multimanager 2025 Lifetime Portfolio
	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22
Increase (decrease) in net assets
From operations
Net investment income	$19,117,114	$18,268,469	$25,869,493	$25,494,046	$25,233,355	$27,146,399
Net realized gain (loss)	(7,566,141)	172,600,036	(19,203,821)	169,026,253	(17,511,673)	131,553,255
Change in net unrealized appreciation (depreciation)	68,092,995	(407,493,989)	71,427,858	(428,171,088)	45,118,106	(341,140,145)
Increase (decrease) in net assets resulting from operations	79,643,968	(216,625,484)	78,093,530	(233,650,789)	52,839,788	(182,440,491)
Distributions to shareholders
From earnings
Class A	(30,272,074)	(21,440,560)	(32,082,259)	(24,251,515)	(27,179,952)	(24,538,038)
Class I	(15,063)	(8,047)	(281,455)	(144,126)	(308,913)	(248,727)
Class R2	(1,363,042)	(908,330)	(1,298,285)	(1,018,903)	(1,085,877)	(1,141,677)
Class R4	(28,822)	(14,662)	(123,134)	(79,854)	(94,710)	(72,877)
Class R5	(1,312,676)	(542,443)	(1,277,495)	(758,154)	(975,359)	(637,503)
Class R6	(13,428,691)	(8,777,191)	(13,467,532)	(9,475,149)	(9,188,003)	(7,967,594)
Class 1	(123,505,373)	(84,491,184)	(126,482,435)	(93,446,526)	(97,655,814)	(91,161,204)
Total distributions	(169,925,741)	(116,182,417)	(175,012,595)	(129,174,227)	(136,488,628)	(125,767,620)
Portfolio share transactions
From portfolio share transactions	123,591,569	55,501,927	88,329,424	59,676,191	(15,410,595)	(22,218,484)
Total increase (decrease)	33,309,796	(277,305,974)	(8,589,641)	(303,148,825)	(99,059,435)	(330,426,595)
Net assets
Beginning of year	1,029,356,208	1,306,662,182	1,180,120,824	1,483,269,649	1,020,910,618	1,351,337,213
End of year	$1,062,666,004	$1,029,356,208	$1,171,531,183	$1,180,120,824	$921,851,183	$1,020,910,618

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

Continued

	Multimanager 2020 Lifetime Portfolio		Multimanager 2015 Lifetime Portfolio		Multimanager 2010 Lifetime Portfolio
	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22
Increase (decrease) in net assets
From operations
Net investment income	$15,187,187	$17,104,016	$5,776,194	$6,517,473	$4,686,559	$4,965,646
Net realized gain (loss)	(9,177,376)	60,066,822	(2,147,567)	18,142,409	(2,386,051)	9,597,679
Change in net unrealized appreciation (depreciation)	18,809,561	(165,736,012)	4,737,211	(52,785,270)	3,647,280	(31,902,910)
Increase (decrease) in net assets resulting from operations	24,819,372	(88,565,174)	8,365,838	(28,125,388)	5,947,788	(17,339,585)
Distributions to shareholders
From earnings
Class A	(20,696,786)	(23,049,342)	(9,295,874)	(9,080,767)	(3,789,740)	(3,828,342)
Class I	(58,941)	(114,808)	(88,168)	(78,908)	(40,247)	(36,523)
Class R2	(658,324)	(624,960)	(63,668)	(76,591)	(51,882)	(42,996)
Class R4	(37,351)	(68,277)	(2,231)	(937)	(5,258)	(4,495)
Class R5	(939,893)	(1,020,849)	(61,495)	(24,087)	(154,650)	(55,038)
Class R6	(4,137,884)	(4,200,764)	(1,160,167)	(1,145,882)	(952,770)	(933,182)
Class 1	(40,183,832)	(47,060,867)	(11,151,614)	(12,265,294)	(8,189,002)	(8,647,605)
Total distributions	(66,713,011)	(76,139,867)	(21,823,217)	(22,672,466)	(13,183,549)	(13,548,181)
Portfolio share transactions
From portfolio share transactions	(18,545,778)	(41,254,135)	(8,483,329)	(15,226,002)	(5,693,384)	(4,520,143)
Total decrease	(60,439,417)	(205,959,176)	(21,940,708)	(66,023,856)	(12,929,145)	(35,407,909)
Net assets
Beginning of year	550,121,487	756,080,663	197,432,635	263,456,491	143,533,379	178,941,288
End of year	$489,682,070	$550,121,487	$175,491,927	$197,432,635	$130,604,234	$143,533,379

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Table of Contents

Financial highlights

Multimanager 2065 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	10.73	0.08 ⁶	0.98	1.06	(0.08)	(0.34)	(0.42)	11.37	10.36	1.11	0.42	0.77 ⁶	461	18
08-31-2022	13.58	0.10 ⁶	(2.53)	(2.43)	(0.10)	(0.32)	(0.42)	10.73	(18.51)	1.40	0.42	0.80 ⁶	190	52
08-31-2021 ⁷	10.00	0.06 ⁶	3.62	3.68	(0.05)	(0.05)	(0.10)	13.58	36.98 ⁸	5.26 ⁹	0.42 ⁹	0.51 ^{6, 9}	146	33
Class I
08-31-2023	10.75	0.15 ⁶	0.95	1.10	(0.11)	(0.34)	(0.45)	11.40	10.79	0.81	0.12	1.40 ⁶	124	18
08-31-2022	13.61	0.15 ⁶	(2.55)	(2.40)	(0.14)	(0.32)	(0.46)	10.75	(18.29)	1.10	0.12	1.19 ⁶	54	52
08-31-2021 ⁷	10.00	0.13 ⁶	3.59	3.72	(0.06)	(0.05)	(0.11)	13.61	37.39 ⁸	4.96 ⁹	0.12 ⁹	1.13 ^{6, 9}	68	33
Class R2
08-31-2023	10.74	0.12 ⁶	0.96	1.08	(0.10)	(0.34)	(0.44)	11.38	10.55	0.95	0.26	1.14 ⁶	58	18
08-31-2022	13.59	0.13 ⁶	(2.54)	(2.41)	(0.12)	(0.32)	(0.44)	10.74	(18.36)	1.25	0.26	1.05 ⁶	54	52
08-31-2021 ⁷	10.00	0.11 ⁶	3.59	3.70	(0.06)	(0.05)	(0.11)	13.59	37.14 ⁸	5.11 ⁹	0.26 ⁹	0.98 ^{6, 9}	68	33
Class R4
08-31-2023	10.75	0.14 ⁶	0.95	1.09	(0.11)	(0.34)	(0.45)	11.39	10.66	0.95	0.16	1.25 ⁶	57	18
08-31-2022	13.60	0.14 ⁶	(2.54)	(2.40)	(0.13)	(0.32)	(0.45)	10.75	(18.26)	1.25	0.16	1.15 ⁶	54	52
08-31-2021 ⁷	10.00	0.12 ⁶	3.59	3.71	(0.06)	(0.05)	(0.11)	13.60	37.28 ⁸	5.11 ⁹	0.16 ⁹	1.09 ^{6, 9}	68	33
Class R5
08-31-2023	10.76	0.13 ⁶	0.97	1.10	(0.12)	(0.34)	(0.46)	11.40	10.82	0.72	0.03	1.17 ⁶	192	18
08-31-2022	13.62	0.15 ⁶	(2.54)	(2.39)	(0.15)	(0.32)	(0.47)	10.76	(18.19)	1.00	0.01	1.21 ⁶	76	52
08-31-2021 ⁷	10.00	0.14 ⁶	3.59	3.73	(0.06)	(0.05)	(0.11)	13.62	37.53 ⁸	4.86 ⁹	0.01 ⁹	1.23 ^{6, 9}	68	33
Class R6
08-31-2023	10.76	0.12 ⁶	0.99	1.11	(0.12)	(0.34)	(0.46)	11.41	10.90	0.70	0.01	1.13 ⁶	3,987	18
08-31-2022	13.62	0.14 ⁶	(2.53)	(2.39)	(0.15)	(0.32)	(0.47)	10.76	(18.20)	1.00	0.01	1.16 ⁶	1,601	52
08-31-2021 ⁷	10.00	0.11 ⁶	3.62	3.73	(0.06)	(0.05)	(0.11)	13.62	37.53 ⁸	4.86 ⁹	0.01 ⁹	0.98 ^{6, 9}	197	33
Class 1
08-31-2023	10.76	0.14 ⁶	0.96	1.10	(0.12)	(0.34)	(0.46)	11.40	10.76	0.74	0.05	1.25 ⁶	52,555	18
08-31-2022	13.61	0.12 ⁶	(2.51)	(2.39)	(0.14)	(0.32)	(0.46)	10.76	(18.17)	1.04	0.05	1.05 ⁶	27,569	52
08-31-2021 ⁷	10.00	0.05 ⁶	3.67	3.72	(0.06)	(0.05)	(0.11)	13.61	37.41 ⁸	4.90 ⁹	0.05 ⁹	0.42 ^{6, 9}	10,959	33

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced and other income not been received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies during the applicable periods.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of $0.01, $0.01 and $0.01 per share and 0.06%, 0.08% and 0.11%, for the periods ended 8-31-23, 8-31-22 and 8-31-21, respectively.

⁷ Period from 9-23-20 (commencement of operations) to 8-31-21.

⁸ Not annualized.

⁹ Annualized.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

Multimanager 2060 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	12.21	0.11 ⁶	0.97	1.08	(0.09)	(1.37)	(1.46)	11.83	10.34	0.75	0.42	0.98 ⁶	10,101	14
08-31-2022	16.34	0.12 ⁶	(2.90)	(2.78)	(0.14)	(1.21)	(1.35)	12.21	(18.57)	0.73	0.42	0.88 ⁶	9,500	49
08-31-2021	13.12	0.10 ⁶	3.63	3.73	(0.12)	(0.39)	(0.51)	16.34	29.07	0.71	0.42	0.69 ⁶	12,113	19
08-31-2020	11.88	0.14 ⁶	1.85	1.99	(0.18)	(0.57)	(0.75)	13.12	17.20	0.84	0.43	1.20 ⁶	5,383	27
08-31-2019	12.91	0.14 ⁶	(0.41)	(0.27)	(0.16)	(0.60)	(0.76)	11.88	(1.30)	0.88	0.41	1.22 ⁶	2,136	27
Class I
08-31-2023	12.26	0.16 ⁶	0.96	1.12	(0.13)	(1.37)	(1.50)	11.88	10.69	0.45	0.12	1.35 ⁶	47	14
08-31-2022	16.39	0.18 ⁶	(2.91)	(2.73)	(0.18)	(1.22)	(1.40)	12.26	(18.26)	0.43	0.12	1.23 ⁶	48	49
08-31-2021	13.16	0.16 ⁶	3.62	3.78	(0.16)	(0.39)	(0.55)	16.39	29.38	0.41	0.11	1.10 ⁶	66	19
08-31-2020	11.91	0.22 ⁶	1.82	2.04	(0.22)	(0.57)	(0.79)	13.16	17.60	0.54	0.13	1.82 ⁶	53	27
08-31-2019	12.95	0.20 ⁶	(0.45)	(0.25)	(0.19)	(0.60)	(0.79)	11.91	(1.06)	0.59	0.13	1.66 ⁶	47	27
Class R2
08-31-2023	12.20	0.10 ⁶	0.98	1.08	(0.08)	(1.37)	(1.45)	11.83	10.32	0.83	0.50	0.83 ⁶	915	14
08-31-2022	16.33	0.10 ⁶	(2.89)	(2.79)	(0.12)	(1.22)	(1.34)	12.20	(18.65)	0.83	0.51	0.71 ⁶	706	49
08-31-2021	13.12	0.10 ⁶	3.63	3.73	(0.13)	(0.39)	(0.52)	16.33	29.02	0.78	0.49	0.65 ⁶	646	19
08-31-2020	11.88	0.17 ⁶	1.83	2.00	(0.19)	(0.57)	(0.76)	13.12	17.24	0.83	0.41	1.43 ⁶	156	27
08-31-2019	12.92	0.16 ⁶	(0.43)	(0.27)	(0.17)	(0.60)	(0.77)	11.88	(1.27)	0.83	0.36	1.31 ⁶	95	27
Class R4
08-31-2023	12.24	0.15 ⁶	0.96	1.11	(0.11)	(1.37)	(1.48)	11.87	10.60	0.62	0.19	1.26 ⁶	64	14
08-31-2022	16.37	0.17 ⁶	(2.91)	(2.74)	(0.17)	(1.22)	(1.39)	12.24	(18.36)	0.62	0.21	1.16 ⁶	72	49
08-31-2021	13.14	0.14 ⁶	3.63	3.77	(0.15)	(0.39)	(0.54)	16.37	29.37	0.58	0.18	0.96 ⁶	152	19
08-31-2020	11.90	0.21 ⁶	1.82	2.03	(0.22)	(0.57)	(0.79)	13.14	17.47	0.68	0.16	1.75 ⁶	74	27
08-31-2019	12.93	0.19 ⁶	(0.43)	(0.24)	(0.19)	(0.60)	(0.79)	11.90	(1.00)	0.73	0.16	1.59 ⁶	55	27
Class R5
08-31-2023	12.26	0.12 ⁶	0.99	1.11	(0.13)	(1.37)	(1.50)	11.87	10.67	0.39	0.06	1.04 ⁶	2,835	14
08-31-2022	16.39	0.17 ⁶	(2.89)	(2.72)	(0.19)	(1.22)	(1.41)	12.26	(18.21)	0.37	0.06	1.27 ⁶	1,261	49
08-31-2021	13.15	0.17 ⁶	3.62	3.79	(0.16)	(0.39)	(0.55)	16.39	29.53	0.36	0.06	1.17 ⁶	424	19
08-31-2020	11.90	0.18 ⁶	1.87	2.05	(0.23)	(0.57)	(0.80)	13.15	17.67	0.48	0.06	1.55 ⁶	382	27
08-31-2019	12.94	0.17 ⁶	(0.41)	(0.24)	(0.20)	(0.60)	(0.80)	11.90	(0.96)	0.53	0.06	1.44 ⁶	168	27
Class R6
08-31-2023	12.27	0.15 ⁶	0.98	1.13	(0.14)	(1.37)	(1.51)	11.89	10.81	0.34	0.01	1.28 ⁶	25,496	14
08-31-2022	16.41	0.17 ⁶	(2.89)	(2.72)	(0.20)	(1.22)	(1.42)	12.27	(18.21)	0.32	0.01	1.25 ⁶	16,811	49
08-31-2021	13.17	0.17 ⁶	3.63	3.80	(0.17)	(0.39)	(0.56)	16.41	29.54	0.31	0.01	1.16 ⁶	10,594	19
08-31-2020	11.92	0.19 ⁶	1.87	2.06	(0.24)	(0.57)	(0.81)	13.17	17.71	0.43	—	1.61 ⁶	3,805	27
08-31-2019	12.95	0.22 ⁶	(0.45)	(0.23)	(0.20)	(0.60)	(0.80)	11.92	(0.86)	0.48	—	1.84 ⁶	1,611	27
Class 1
08-31-2023	12.26	0.15 ⁶	0.97	1.12	(0.13)	(1.37)	(1.50)	11.88	10.76	0.38	0.05	1.32 ⁶	201,931	14
08-31-2022	16.40	0.17 ⁶	(2.90)	(2.73)	(0.19)	(1.22)	(1.41)	12.26	(18.26)	0.36	0.05	1.21 ⁶	162,083	49
08-31-2021	13.16	0.17 ⁶	3.63	3.80	(0.17)	(0.39)	(0.56)	16.40	29.52	0.35	0.05	1.12 ⁶	183,616	19
08-31-2020	11.91	0.21 ⁶	1.84	2.05	(0.23)	(0.57)	(0.80)	13.16	17.66	0.47	0.05	1.74 ⁶	128,704	27
08-31-2019	12.94	0.18 ⁶	(0.41)	(0.23)	(0.20)	(0.60)	(0.80)	11.91	(0.92)	0.52	0.05	1.55 ⁶	79,730	27

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of $0.01, $0.01, $0.02, $0.01, and $0.02 per share and 0.06%, 0.09%, 0.12%, 0.13%, and 0.17%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20, and 8-31-19, respectively.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Financial highlights continued

Multimanager 2055 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	10.79	0.10 ⁶	0.84	0.94	(0.07)	(1.29)	(1.36)	10.37	10.28	0.71	0.42	0.96 ⁶	30,960	16
08-31-2022	14.51	0.11 ⁶	(2.56)	(2.45)	(0.12)	(1.15)	(1.27)	10.79	(18.54)	0.69	0.42	0.87 ⁶	29,003	48
08-31-2021	11.72	0.09 ⁶	3.21	3.30	(0.10)	(0.41)	(0.51)	14.51	28.87	0.66	0.42	0.71 ⁶	38,649	20
08-31-2020	10.83	0.14 ⁶	1.67	1.81	(0.17)	(0.75)	(0.92)	11.72	17.26	0.71	0.43	1.34 ⁶	23,530	30
08-31-2019	12.19	0.14 ⁶	(0.45)	(0.31)	(0.16)	(0.89)	(1.05)	10.83	(1.30)	0.68	0.41	1.25 ⁶	13,755	29
Class I
08-31-2023	10.83	0.13 ⁶	0.84	0.97	(0.10)	(1.29)	(1.39)	10.41	10.63	0.41	0.11	1.30 ⁶	79	16
08-31-2022	14.56	0.15 ⁶	(2.56)	(2.41)	(0.17)	(1.15)	(1.32)	10.83	(18.29)	0.39	0.12	1.17 ⁶	101	48
08-31-2021	11.75	0.13 ⁶	3.22	3.35	(0.13)	(0.41)	(0.54)	14.56	29.27	0.36	0.11	0.95 ⁶	135	20
08-31-2020	10.86	0.19 ⁶	1.65	1.84	(0.20)	(0.75)	(0.95)	11.75	17.57	0.41	0.13	1.80 ⁶	69	30
08-31-2019	12.22	0.18 ⁶	(0.45)	(0.27)	(0.20)	(0.89)	(1.09)	10.86	(1.01)	0.39	0.13	1.62 ⁶	57	29
Class R2
08-31-2023	10.78	0.09 ⁶	0.84	0.93	(0.06)	(1.29)	(1.35)	10.36	10.18	0.80	0.51	0.87 ⁶	1,041	16
08-31-2022	14.50	0.10 ⁶	(2.56)	(2.46)	(0.11)	(1.15)	(1.26)	10.78	(18.61)	0.78	0.51	0.78 ⁶	936	48
08-31-2021	11.71	0.10 ⁶	3.19	3.29	(0.09)	(0.41)	(0.50)	14.50	28.79	0.75	0.51	0.78 ⁶	1,054	20
08-31-2020	10.83	0.14 ⁶	1.65	1.79	(0.16)	(0.75)	(0.91)	11.71	17.07	0.80	0.52	1.35 ⁶	806	30
08-31-2019	12.19	0.11 ⁶	(0.42)	(0.31)	(0.16)	(0.89)	(1.05)	10.83	(1.35)	0.78	0.51	1.05 ⁶	602	29
Class R4
08-31-2023	10.83	0.13 ⁶	0.84	0.97	(0.10)	(1.29)	(1.39)	10.41	10.56	0.56	0.16	1.29 ⁶	44	16
08-31-2022	14.55	0.15 ⁶	(2.58)	(2.43)	(0.14)	(1.15)	(1.29)	10.83	(18.27)	0.53	0.16	1.19 ⁶	44	48
08-31-2021	11.74	0.14 ⁶	3.20	3.34	(0.12)	(0.41)	(0.53)	14.55	29.19	0.50	0.16	1.05 ⁶	59	20
08-31-2020	10.85	0.19 ⁶	1.65	1.84	(0.20)	(0.75)	(0.95)	11.74	17.53	0.55	0.16	1.83 ⁶	48	30
08-31-2019	12.22	0.18 ⁶	(0.46)	(0.28)	(0.20)	(0.89)	(1.09)	10.85	(1.04)	0.53	0.16	1.65 ⁶	44	29
Class R5
08-31-2023	10.85	0.12 ⁶	0.85	0.97	(0.11)	(1.29)	(1.40)	10.42	10.59	0.35	0.06	1.19 ⁶	4,522	16
08-31-2022	14.58	0.16 ⁶	(2.57)	(2.41)	(0.17)	(1.15)	(1.32)	10.85	(18.21)	0.33	0.06	1.32 ⁶	2,940	48
08-31-2021	11.76	0.16 ⁶	3.21	3.37	(0.14)	(0.41)	(0.55)	14.58	29.41	0.30	0.06	1.17 ⁶	1,337	20
08-31-2020	10.86	0.17 ⁶	1.69	1.86	(0.21)	(0.75)	(0.96)	11.76	17.72	0.35	0.06	1.59 ⁶	195	30
08-31-2019	12.23	0.18 ⁶	(0.46)	(0.28)	(0.20)	(0.89)	(1.09)	10.86	(0.97)	0.33	0.06	1.61 ⁶	97	29
Class R6
08-31-2023	10.85	0.13 ⁶	0.84	0.97	(0.11)	(1.29)	(1.40)	10.42	10.66	0.30	0.01	1.29 ⁶	38,922	16
08-31-2022	14.58	0.16 ⁶	(2.56)	(2.40)	(0.18)	(1.15)	(1.33)	10.85	(18.17)	0.28	0.01	1.27 ⁶	31,635	48
08-31-2021	11.76	0.15 ⁶	3.23	3.38	(0.15)	(0.41)	(0.56)	14.58	29.47	0.25	0.01	1.11 ⁶	25,449	20
08-31-2020	10.87	0.18 ⁶	1.68	1.86	(0.22)	(0.75)	(0.97)	11.76	17.68	0.30	—	1.74 ⁶	10,042	30
08-31-2019	12.23	0.18 ⁶	(0.44)	(0.26)	(0.21)	(0.89)	(1.10)	10.87	(0.80)	0.28	—	1.65 ⁶	5,437	29
Class 1
08-31-2023	10.84	0.14 ⁶	0.84	0.98	(0.11)	(1.29)	(1.40)	10.42	10.72	0.35	0.05	1.33 ⁶	285,504	16
08-31-2022	14.57	0.15 ⁶	(2.56)	(2.41)	(0.17)	(1.15)	(1.32)	10.84	(18.22)	0.32	0.05	1.22 ⁶	246,611	48
08-31-2021	11.75	0.15 ⁶	3.22	3.37	(0.14)	(0.41)	(0.55)	14.57	29.44	0.29	0.05	1.14 ⁶	292,979	20
08-31-2020	10.86	0.19 ⁶	1.66	1.85	(0.21)	(0.75)	(0.96)	11.75	17.63	0.34	0.05	1.81 ⁶	235,255	30
08-31-2019	12.23	0.18 ⁶	(0.45)	(0.27)	(0.21)	(0.89)	(1.10)	10.86	(0.94)	0.31	0.05	1.63 ⁶	186,409	29

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of $0.01, $0.01, $0.02, $0.01, and $0.02 per share and 0.05%, 0.08%, 0.11%, 0.12%, and 0.16%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20, and 8-31-19, respectively.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

Multimanager 2050 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	11.48	0.10 ⁶	0.87	0.97	(0.08)	(1.66)	(1.74)	10.71	10.35	0.69	0.42	0.96 ⁶	77,455	17
08-31-2022	15.43	0.12 ⁶	(2.73)	(2.61)	(0.12)	(1.22)	(1.34)	11.48	(18.56)	0.66	0.42	0.88 ⁶	74,589	48
08-31-2021	12.51	0.10 ⁶	3.42	3.52	(0.12)	(0.48)	(0.60)	15.43	28.92	0.63	0.42	0.75 ⁶	99,779	19
08-31-2020	11.65	0.16 ⁶	1.77	1.93	(0.18)	(0.89)	(1.07)	12.51	17.20	0.66	0.43	1.42 ⁶	73,101	31
08-31-2019	13.29	0.15 ⁶	(0.51)	(0.36)	(0.16)	(1.12)	(1.28)	11.65	(1.33)	0.62	0.41	1.28 ⁶	54,552	31
Class I
08-31-2023	11.52	0.14 ⁶	0.86	1.00	(0.11)	(1.66)	(1.77)	10.75	10.69	0.39	0.12	1.28 ⁶	151	17
08-31-2022	15.48	0.18 ⁶	(2.75)	(2.57)	(0.17)	(1.22)	(1.39)	11.52	(18.31)	0.36	0.12	1.32 ⁶	134	48
08-31-2021	12.55	0.09 ⁶	3.48	3.57	(0.16)	(0.48)	(0.64)	15.48	29.32	0.33	0.11	0.64 ⁶	187	19
08-31-2020	11.68	0.18 ⁶	1.80	1.98	(0.22)	(0.89)	(1.11)	12.55	17.49	0.36	0.13	1.53 ⁶	67	31
08-31-2019	13.32	0.27 ⁶	(0.59)	(0.32)	(0.20)	(1.12)	(1.32)	11.68	(0.96)	0.33	0.13	2.33 ⁶	56	31
Class R2
08-31-2023	11.47	0.09 ⁶	0.87	0.96	(0.07)	(1.66)	(1.73)	10.70	10.23	0.78	0.50	0.87 ⁶	3,853	17
08-31-2022	15.42	0.10 ⁶	(2.72)	(2.62)	(0.11)	(1.22)	(1.33)	11.47	(18.64)	0.75	0.51	0.75 ⁶	3,904	48
08-31-2021	12.51	0.10 ⁶	3.41	3.51	(0.12)	(0.48)	(0.60)	15.42	28.78	0.72	0.51	0.71 ⁶	5,393	19
08-31-2020	11.65	0.15 ⁶	1.78	1.93	(0.18)	(0.89)	(1.07)	12.51	17.12	0.75	0.51	1.27 ⁶	1,358	31
08-31-2019	13.29	0.12 ⁶	(0.49)	(0.37)	(0.15)	(1.12)	(1.27)	11.65	(1.44)	0.71	0.50	1.05 ⁶	1,264	31
Class R4
08-31-2023	11.50	0.12 ⁶	0.86	0.98	(0.10)	(1.66)	(1.76)	10.72	10.45	0.63	0.26	1.12 ⁶	1,607	17
08-31-2022	15.45	0.14 ⁶	(2.72)	(2.58)	(0.15)	(1.22)	(1.37)	11.50	(18.39)	0.60	0.26	1.05 ⁶	1,333	48
08-31-2021	12.52	0.14 ⁶	3.41	3.55	(0.14)	(0.48)	(0.62)	15.45	29.16	0.57	0.26	0.96 ⁶	1,476	19
08-31-2020	11.66	0.19 ⁶	1.76	1.95	(0.20)	(0.89)	(1.09)	12.52	17.37	0.60	0.26	1.67 ⁶	1,073	31
08-31-2019	13.30	0.18 ⁶	(0.52)	(0.34)	(0.18)	(1.12)	(1.30)	11.66	(1.13)	0.57	0.26	1.50 ⁶	776	31
Class R5
08-31-2023	11.54	0.12 ⁶	0.88	1.00	(0.12)	(1.66)	(1.78)	10.76	10.67	0.33	0.06	1.11 ⁶	4,682	17
08-31-2022	15.49	0.16 ⁶	(2.71)	(2.55)	(0.18)	(1.22)	(1.40)	11.54	(18.19)	0.30	0.06	1.25 ⁶	2,499	48
08-31-2021	12.55	0.21 ⁶	3.37	3.58	(0.16)	(0.48)	(0.64)	15.49	29.36	0.27	0.06	1.47 ⁶	863	19
08-31-2020	11.68	0.24 ⁶	1.75	1.99	(0.23)	(0.89)	(1.12)	12.55	17.67	0.30	0.06	2.06 ⁶	29	31
08-31-2019	13.34	0.23 ⁶	(0.56)	(0.33)	(0.21)	(1.12)	(1.33)	11.68	(1.05)	0.28	0.07	1.84 ⁶	34	31
Class R6
08-31-2023	11.54	0.14 ⁶	0.87	1.01	(0.13)	(1.66)	(1.79)	10.76	10.73	0.28	0.01	1.30 ⁶	57,496	17
08-31-2022	15.50	0.17 ⁶	(2.73)	(2.56)	(0.18)	(1.22)	(1.40)	11.54	(18.20)	0.25	0.01	1.26 ⁶	46,800	48
08-31-2021	12.56	0.16 ⁶	3.43	3.59	(0.17)	(0.48)	(0.65)	15.50	29.40	0.22	0.01	1.14 ⁶	43,703	19
08-31-2020	11.69	0.20 ⁶	1.79	1.99	(0.23)	(0.89)	(1.12)	12.56	17.72	0.25	—	1.79 ⁶	23,312	31
08-31-2019	13.34	0.18 ⁶	(0.49)	(0.31)	(0.22)	(1.12)	(1.34)	11.69	(0.90)	0.22	—	1.52 ⁶	15,426	31
Class 1
08-31-2023	11.52	0.14 ⁶	0.86	1.00	(0.12)	(1.66)	(1.78)	10.74	10.69	0.33	0.05	1.32 ⁶	410,188	17
08-31-2022	15.48	0.16 ⁶	(2.72)	(2.56)	(0.18)	(1.22)	(1.40)	11.52	(18.26)	0.30	0.05	1.22 ⁶	369,001	48
08-31-2021	12.54	0.16 ⁶	3.42	3.58	(0.16)	(0.48)	(0.64)	15.48	29.40	0.26	0.05	1.13 ⁶	459,795	19
08-31-2020	11.67	0.21 ⁶	1.78	1.99	(0.23)	(0.89)	(1.12)	12.54	17.69	0.29	0.05	1.85 ⁶	377,659	31
08-31-2019	13.32	0.20 ⁶	(0.52)	(0.32)	(0.21)	(1.12)	(1.33)	11.67	(0.97)	0.26	0.05	1.66 ⁶	329,347	31

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of $0.01, $0.01, $0.02, $0.01, and $0.02 per share and 0.04%, 0.07%, 0.10%, 0.11%, and 0.15%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20, and 8-31-19, respectively.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Financial highlights continued

Multimanager 2045 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	10.28	0.10 ⁶	0.68	0.78	(0.08)	(1.87)	(1.95)	9.11	9.96	0.68	0.42	1.07 ⁶	143,191	17
08-31-2022	13.72	0.11 ⁶	(2.42)	(2.31)	(0.11)	(1.02)	(1.13)	10.28	(18.42)	0.65	0.42	0.93 ⁶	137,181	47
08-31-2021	11.22	0.10 ⁶	3.05	3.15	(0.12)	(0.53)	(0.65)	13.72	28.93	0.61	0.42	0.78 ⁶	180,069	18
08-31-2020	10.71	0.15 ⁶	1.61	1.76	(0.17)	(1.08)	(1.25)	11.22	17.15	0.64	0.43	1.45 ⁶	132,866	32
08-31-2019	12.40	0.14 ⁶	(0.49)	(0.35)	(0.16)	(1.18)	(1.34)	10.71	(1.29)	0.60	0.41	1.32 ⁶	104,554	33
Class I
08-31-2023	10.37	0.12 ⁶	0.71	0.83	(0.12)	(1.87)	(1.99)	9.21	10.37	0.38	0.12	1.28 ⁶	401	17
08-31-2022	13.84	0.14 ⁶	(2.44)	(2.30)	(0.15)	(1.02)	(1.17)	10.37	(18.23)	0.35	0.12	1.14 ⁶	309	47
08-31-2021	11.31	0.13 ⁶	3.08	3.21	(0.15)	(0.53)	(0.68)	13.84	29.28	0.31	0.12	1.02 ⁶	268	18
08-31-2020	10.77	0.19 ⁶	1.63	1.82	(0.20)	(1.08)	(1.28)	11.31	17.70	0.34	0.13	1.85 ⁶	172	32
08-31-2019	12.48	0.14 ⁶	(0.48)	(0.34)	(0.19)	(1.18)	(1.37)	10.77	(1.12)	0.31	0.12	1.33 ⁶	199	33
Class R2
08-31-2023	10.33	0.09 ⁶	0.68	0.77	(0.07)	(1.87)	(1.94)	9.16	9.78	0.77	0.51	0.98 ⁶	6,258	17
08-31-2022	13.78	0.10 ⁶	(2.43)	(2.33)	(0.10)	(1.02)	(1.12)	10.33	(18.48)	0.74	0.51	0.82 ⁶	5,709	47
08-31-2021	11.27	0.10 ⁶	3.05	3.15	(0.11)	(0.53)	(0.64)	13.78	28.81	0.71	0.51	0.77 ⁶	7,060	18
08-31-2020	10.75	0.14 ⁶	1.62	1.76	(0.16)	(1.08)	(1.24)	11.27	17.08	0.72	0.51	1.33 ⁶	3,114	32
08-31-2019	12.43	0.13 ⁶	(0.49)	(0.36)	(0.14)	(1.18)	(1.32)	10.75	(1.36)	0.69	0.51	1.23 ⁶	2,592	33
Class R4
08-31-2023	10.32	0.11 ⁶	0.69	0.80	(0.10)	(1.87)	(1.97)	9.15	10.23	0.62	0.26	1.19 ⁶	308	17
08-31-2022	13.78	0.13 ⁶	(2.44)	(2.31)	(0.13)	(1.02)	(1.15)	10.32	(18.35)	0.59	0.26	1.05 ⁶	245	47
08-31-2021	11.26	0.12 ⁶	3.06	3.18	(0.13)	(0.53)	(0.66)	13.78	29.17	0.56	0.26	0.92 ⁶	262	18
08-31-2020	10.74	0.15 ⁶	1.63	1.78	(0.18)	(1.08)	(1.26)	11.26	17.38	0.57	0.26	1.47 ⁶	181	32
08-31-2019	12.43	0.15 ⁶	(0.48)	(0.33)	(0.18)	(1.18)	(1.36)	10.74	(1.13)	0.54	0.26	1.38 ⁶	174	33
Class R5
08-31-2023	10.41	0.12 ⁶	0.71	0.83	(0.12)	(1.87)	(1.99)	9.25	10.41	0.32	0.06	1.32 ⁶	5,846	17
08-31-2022	13.88	0.17 ⁶	(2.46)	(2.29)	(0.16)	(1.02)	(1.18)	10.41	(18.12)	0.29	0.06	1.42 ⁶	4,843	47
08-31-2021	11.34	0.16 ⁶	3.06	3.22	(0.15)	(0.53)	(0.68)	13.88	29.36	0.26	0.06	1.23 ⁶	3,009	18
08-31-2020	10.80	0.19 ⁶	1.64	1.83	(0.21)	(1.08)	(1.29)	11.34	17.71	0.27	0.06	1.79 ⁶	1,990	32
08-31-2019	12.50	0.22 ⁶	(0.54)	(0.32)	(0.20)	(1.18)	(1.38)	10.80	(0.99)	0.25	0.06	1.98 ⁶	1,484	33
Class R6
08-31-2023	10.38	0.13 ⁶	0.70	0.83	(0.13)	(1.87)	(2.00)	9.21	10.38	0.27	0.01	1.45 ⁶	72,695	17
08-31-2022	13.85	0.16 ⁶	(2.43)	(2.27)	(0.17)	(1.03)	(1.20)	10.38	(18.12)	0.24	0.01	1.35 ⁶	61,640	47
08-31-2021	11.31	0.15 ⁶	3.08	3.23	(0.16)	(0.53)	(0.69)	13.85	29.50	0.21	0.01	1.20 ⁶	60,389	18
08-31-2020	10.78	0.19 ⁶	1.63	1.82	(0.21)	(1.08)	(1.29)	11.31	17.72	0.22	—	1.84 ⁶	38,164	32
08-31-2019	12.48	0.18 ⁶	(0.49)	(0.31)	(0.21)	(1.18)	(1.39)	10.78	(0.89)	0.20	—	1.70 ⁶	29,020	33
Class 1
08-31-2023	10.39	0.13 ⁶	0.69	0.82	(0.12)	(1.87)	(1.99)	9.22	10.32	0.32	0.05	1.44 ⁶	633,452	17
08-31-2022	13.86	0.15 ⁶	(2.44)	(2.29)	(0.16)	(1.02)	(1.18)	10.39	(18.14)	0.28	0.05	1.28 ⁶	601,581	47
08-31-2021	11.32	0.15 ⁶	3.07	3.22	(0.15)	(0.53)	(0.68)	13.86	29.42	0.25	0.05	1.16 ⁶	765,559	18
08-31-2020	10.79	0.20 ⁶	1.62	1.82	(0.21)	(1.08)	(1.29)	11.32	17.65	0.26	0.05	1.88 ⁶	638,101	32
08-31-2019	12.49	0.19 ⁶	(0.51)	(0.32)	(0.20)	(1.18)	(1.38)	10.79	(0.95)	0.23	0.05	1.69 ⁶	599,868	33

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of $0.01, $0.01, $0.02, $0.01, and $0.02 per share and 0.06%, 0.09%, 0.12%, 0.13%, and 0.16%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20, and 8-31-19, respectively.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

Multimanager 2040 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	10.41	0.12 ⁶	0.59	0.71	(0.09)	(1.78)	(1.87)	9.25	8.87	0.69	0.42	1.29 ⁶	164,166	19
08-31-2022	13.88	0.13 ⁶	(2.43)	(2.30)	(0.12)	(1.05)	(1.17)	10.41	(18.12)	0.66	0.42	1.09 ⁶	160,083	49
08-31-2021	11.50	0.11 ⁶	2.95	3.06	(0.12)	(0.56)	(0.68)	13.88	27.48	0.62	0.42	0.85 ⁶	210,327	21
08-31-2020	10.91	0.16 ⁶	1.63	1.79	(0.17)	(1.03)	(1.20)	11.50	17.18	0.64	0.43	1.50 ⁶	159,569	33
08-31-2019	12.56	0.15 ⁶	(0.47)	(0.32)	(0.17)	(1.16)	(1.33)	10.91	(1.09)	0.60	0.41	1.35 ⁶	127,736	33
Class I
08-31-2023	10.51	0.15 ⁶	0.59	0.74	(0.12)	(1.78)	(1.90)	9.35	9.18	0.39	0.12	1.60 ⁶	533	19
08-31-2022	14.00	0.21 ⁶	(2.49)	(2.28)	(0.16)	(1.05)	(1.21)	10.51	(17.86)	0.36	0.11	1.67 ⁶	616	49
08-31-2021	11.58	0.13 ⁶	3.00	3.13	(0.15)	(0.56)	(0.71)	14.00	27.96	0.32	0.11	1.04 ⁶	1,468	21
08-31-2020	10.98	0.20 ⁶	1.64	1.84	(0.21)	(1.03)	(1.24)	11.58	17.51	0.34	0.13	1.88 ⁶	645	33
08-31-2019	12.64	0.14 ⁶	(0.44)	(0.30)	(0.20)	(1.16)	(1.36)	10.98	(0.85)	0.30	0.12	1.27 ⁶	325	33
Class R2
08-31-2023	10.44	0.11 ⁶	0.60	0.71	(0.08)	(1.78)	(1.86)	9.29	8.84	0.78	0.50	1.19 ⁶	5,250	19
08-31-2022	13.92	0.12 ⁶	(2.44)	(2.32)	(0.11)	(1.05)	(1.16)	10.44	(18.21)	0.75	0.51	1.00 ⁶	5,170	49
08-31-2021	11.53	0.10 ⁶	2.96	3.06	(0.11)	(0.56)	(0.67)	13.92	27.42	0.72	0.51	0.78 ⁶	7,442	21
08-31-2020	10.94	0.16 ⁶	1.63	1.79	(0.17)	(1.03)	(1.20)	11.53	17.04	0.73	0.51	1.50 ⁶	1,108	33
08-31-2019	12.58	0.11 ⁶	(0.44)	(0.33)	(0.15)	(1.16)	(1.31)	10.94	(1.18)	0.69	0.51	1.04 ⁶	987	33
Class R4
08-31-2023	10.43	0.13 ⁶	0.60	0.73	(0.11)	(1.78)	(1.89)	9.27	9.07	0.63	0.25	1.43 ⁶	497	19
08-31-2022	13.90	0.15 ⁶	(2.42)	(2.27)	(0.15)	(1.05)	(1.20)	10.43	(17.96)	0.60	0.26	1.24 ⁶	381	49
08-31-2021	11.51	0.13 ⁶	2.96	3.09	(0.14)	(0.56)	(0.70)	13.90	27.71	0.57	0.26	1.02 ⁶	387	21
08-31-2020	10.92	0.18 ⁶	1.63	1.81	(0.19)	(1.03)	(1.22)	11.51	17.35	0.58	0.26	1.66 ⁶	276	33
08-31-2019	12.57	0.17 ⁶	(0.48)	(0.31)	(0.18)	(1.16)	(1.34)	10.92	(0.94)	0.54	0.26	1.51 ⁶	224	33
Class R5
08-31-2023	10.53	0.15 ⁶	0.60	0.75	(0.13)	(1.78)	(1.91)	9.37	9.24	0.33	0.06	1.56 ⁶	6,431	19
08-31-2022	14.02	0.17 ⁶	(2.42)	(2.25)	(0.18)	(1.06)	(1.24)	10.53	(17.78)	0.30	0.06	1.42 ⁶	4,902	49
08-31-2021	11.60	0.18 ⁶	2.96	3.14	(0.16)	(0.56)	(0.72)	14.02	27.97	0.27	0.06	1.34 ⁶	2,404	21
08-31-2020	10.99	0.18 ⁶	1.67	1.85	(0.21)	(1.03)	(1.24)	11.60	17.66	0.28	0.06	1.73 ⁶	327	33
08-31-2019	12.65	0.23 ⁶	(0.52)	(0.29)	(0.21)	(1.16)	(1.37)	10.99	(0.78)	0.25	0.06	1.99 ⁶	192	33
Class R6
08-31-2023	10.50	0.16 ⁶	0.59	0.75	(0.14)	(1.78)	(1.92)	9.33	9.22	0.28	0.01	1.69 ⁶	77,694	19
08-31-2022	13.98	0.18 ⁶	(2.43)	(2.25)	(0.18)	(1.05)	(1.23)	10.50	(17.72)	0.25	0.01	1.52 ⁶	65,036	49
08-31-2021	11.57	0.16 ⁶	2.97	3.13	(0.16)	(0.56)	(0.72)	13.98	28.02	0.22	0.01	1.24 ⁶	70,130	21
08-31-2020	10.97	0.20 ⁶	1.65	1.85	(0.22)	(1.03)	(1.25)	11.57	17.66	0.23	—	1.88 ⁶	38,274	33
08-31-2019	12.63	0.20 ⁶	(0.49)	(0.29)	(0.21)	(1.16)	(1.37)	10.97	(0.71)	0.19	—	1.85 ⁶	28,782	33
Class 1
08-31-2023	10.51	0.16 ⁶	0.59	0.75	(0.13)	(1.78)	(1.91)	9.35	9.28	0.32	0.05	1.66 ⁶	657,016	19
08-31-2022	13.99	0.18 ⁶	(2.44)	(2.26)	(0.17)	(1.05)	(1.22)	10.51	(17.74)	0.29	0.05	1.44 ⁶	632,481	49
08-31-2021	11.58	0.16 ⁶	2.97	3.13	(0.16)	(0.56)	(0.72)	13.99	27.93	0.26	0.05	1.24 ⁶	812,243	21
08-31-2020	10.98	0.20 ⁶	1.65	1.85	(0.22)	(1.03)	(1.25)	11.58	17.59	0.26	0.05	1.92 ⁶	690,481	33
08-31-2019	12.64	0.19 ⁶	(0.48)	(0.29)	(0.21)	(1.16)	(1.37)	10.98	(0.77)	0.23	0.05	1.74 ⁶	656,081	33

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005, $0.01, $0.01, $0.01, and $0.02 per share and 0.04%, 0.08%, 0.11%, 0.12%, and 0.16%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20, and 8-31-19, respectively.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Financial highlights continued

Multimanager 2035 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	10.13	0.14 ⁶	0.47	0.61	(0.10)	(1.57)	(1.67)	9.07	7.67	0.70	0.42	1.55 ⁶	191,072	20
08-31-2022	13.46	0.15 ⁶	(2.27)	(2.12)	(0.16)	(1.05)	(1.21)	10.13	(17.39)	0.67	0.42	1.28 ⁶	187,557	49
08-31-2021	11.39	0.13 ⁶	2.63	2.76	(0.12)	(0.57)	(0.69)	13.46	25.10	0.63	0.42	1.01 ⁶	243,658	26
08-31-2020	10.89	0.17 ⁶	1.52	1.69	(0.19)	(1.00)	(1.19)	11.39	16.21	0.64	0.43	1.58 ⁶	188,821	34
08-31-2019	12.38	0.17 ⁶	(0.40)	(0.23)	(0.18)	(1.08)	(1.26)	10.89	(0.46)	0.59	0.41	1.51 ⁶	146,789	34
Class I
08-31-2023	10.19	0.16 ⁶	0.47	0.63	(0.13)	(1.57)	(1.70)	9.12	7.89	0.40	0.12	1.75 ⁶	96	20
08-31-2022	13.54	0.24 ⁶	(2.34)	(2.10)	(0.20)	(1.05)	(1.25)	10.19	(17.19)	0.37	0.12	2.10 ⁶	119	49
08-31-2021	11.45	0.09 ⁶	2.73	2.82	(0.16)	(0.57)	(0.73)	13.54	25.53	0.33	0.11	0.76 ⁶	100	26
08-31-2020	10.96	0.09 ⁶	1.64	1.73	(0.24)	(1.00)	(1.24)	11.45	16.50	0.34	0.13	0.92 ⁶	16	34
08-31-2019	12.46	0.28 ⁶	(0.48)	(0.20)	(0.22)	(1.08)	(1.30)	10.96	(0.18)	0.31	0.13	2.38 ⁶	2	34
Class R2
08-31-2023	10.18	0.13 ⁶	0.46	0.59	(0.08)	(1.57)	(1.65)	9.12	7.49	0.78	0.50	1.43 ⁶	9,315	20
08-31-2022	13.53	0.14 ⁶	(2.29)	(2.15)	(0.15)	(1.05)	(1.20)	10.18	(17.52)	0.76	0.51	1.15 ⁶	8,291	49
08-31-2021	11.44	0.13 ⁶	2.65	2.78	(0.12)	(0.57)	(0.69)	13.53	25.09	0.72	0.51	1.01 ⁶	10,905	26
08-31-2020	10.93	0.16 ⁶	1.53	1.69	(0.18)	(1.00)	(1.18)	11.44	16.13	0.73	0.51	1.56 ⁶	3,075	34
08-31-2019	12.42	0.16 ⁶	(0.40)	(0.24)	(0.17)	(1.08)	(1.25)	10.93	(0.57)	0.69	0.51	1.42 ⁶	2,021	34
Class R4
08-31-2023	10.20	0.16 ⁶	0.46	0.62	(0.11)	(1.57)	(1.68)	9.14	7.80	0.59	0.21	1.73 ⁶	205	20
08-31-2022	13.54	0.16 ⁶	(2.27)	(2.11)	(0.18)	(1.05)	(1.23)	10.20	(17.22)	0.56	0.21	1.42 ⁶	171	49
08-31-2021	11.45	0.15 ⁶	2.65	2.80	(0.14)	(0.57)	(0.71)	13.54	25.33	0.56	0.24	1.16 ⁶	128	26
08-31-2020	10.94	0.19 ⁶	1.53	1.72	(0.21)	(1.00)	(1.21)	11.45	16.42	0.58	0.26	1.79 ⁶	91	34
08-31-2019	12.44	0.17 ⁶	(0.39)	(0.22)	(0.20)	(1.08)	(1.28)	10.94	(0.37)	0.54	0.26	1.49 ⁶	87	34
Class R5
08-31-2023	10.23	0.17 ⁶	0.47	0.64	(0.13)	(1.57)	(1.70)	9.17	8.05	0.34	0.06	1.80 ⁶	10,092	20
08-31-2022	13.59	0.17 ⁶	(2.28)	(2.11)	(0.20)	(1.05)	(1.25)	10.23	(17.15)	0.31	0.06	1.50 ⁶	7,777	49
08-31-2021	11.48	0.18 ⁶	2.66	2.84	(0.16)	(0.57)	(0.73)	13.59	25.64	0.28	0.06	1.45 ⁶	4,223	26
08-31-2020	10.96	0.20 ⁶	1.55	1.75	(0.23)	(1.00)	(1.23)	11.48	16.71	0.28	0.06	1.89 ⁶	260	34
08-31-2019	12.46	0.21 ⁶	(0.41)	(0.20)	(0.22)	(1.08)	(1.30)	10.96	(0.13)	0.24	0.06	1.79 ⁶	289	34
Class R6
08-31-2023	10.22	0.18 ⁶	0.47	0.65	(0.14)	(1.57)	(1.71)	9.16	8.11	0.29	0.01	1.93 ⁶	89,702	20
08-31-2022	13.58	0.20 ⁶	(2.30)	(2.10)	(0.21)	(1.05)	(1.26)	10.22	(17.11)	0.26	0.01	1.71 ⁶	74,714	49
08-31-2021	11.47	0.18 ⁶	2.67	2.85	(0.17)	(0.57)	(0.74)	13.58	25.73	0.23	0.01	1.40 ⁶	80,488	26
08-31-2020	10.96	0.20 ⁶	1.54	1.74	(0.23)	(1.00)	(1.23)	11.47	16.68	0.23	—	1.87 ⁶	46,792	34
08-31-2019	12.46	0.20 ⁶	(0.39)	(0.19)	(0.23)	(1.08)	(1.31)	10.96	(0.05)	0.19	—	1.88 ⁶	31,906	34
Class 1
08-31-2023	10.23	0.18 ⁶	0.46	0.64	(0.13)	(1.57)	(1.70)	9.17	8.06	0.33	0.05	1.92 ⁶	762,184	20
08-31-2022	13.59	0.19 ⁶	(2.29)	(2.10)	(0.21)	(1.05)	(1.26)	10.23	(17.14)	0.30	0.05	1.62 ⁶	750,728	49
08-31-2021	11.48	0.17 ⁶	2.67	2.84	(0.16)	(0.57)	(0.73)	13.59	25.65	0.27	0.05	1.39 ⁶	967,161	26
08-31-2020	10.97	0.21 ⁶	1.53	1.74	(0.23)	(1.00)	(1.23)	11.48	16.61	0.27	0.05	2.01 ⁶	853,701	34
08-31-2019	12.47	0.21 ⁶	(0.41)	(0.20)	(0.22)	(1.08)	(1.30)	10.97	(0.10)	0.23	0.05	1.89 ⁶	823,762	34

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005, less than $0.005, $0.01, $0.01, and $0.02 per share and 0.02%, 0.04%, 0.08%, 0.09%, and 0.15%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20 and 8-31-19, respectively.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

Multimanager 2030 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	9.84	0.17 ⁶	0.35	0.52	(0.12)	(1.32)	(1.44)	8.92	6.56	0.70	0.42	1.91 ⁶	225,786	22
08-31-2022	12.84	0.18 ⁶	(2.09)	(1.91)	(0.18)	(0.91)	(1.09)	9.84	(16.34)	0.67	0.42	1.60 ⁶	223,543	46
08-31-2021	11.10	0.14 ⁶	2.26	2.40	(0.14)	(0.52)	(0.66)	12.84	22.37	0.64	0.42	1.21 ⁶	290,842	30
08-31-2020	10.64	0.17 ⁶	1.36	1.53	(0.19)	(0.88)	(1.07)	11.10	15.07	0.65	0.43	1.68 ⁶	226,690	33
08-31-2019	11.87	0.19 ⁶	(0.26)	(0.07)	(0.21)	(0.95)	(1.16)	10.64	0.69	0.60	0.41	1.74 ⁶	182,499	40
Class I
08-31-2023	9.82	0.21 ⁶	0.33	0.54	(0.15)	(1.32)	(1.47)	8.89	6.84	0.40	0.11	2.37 ⁶	1,422	22
08-31-2022	12.82	0.19 ⁶	(2.07)	(1.88)	(0.21)	(0.91)	(1.12)	9.82	(16.11)	0.37	0.12	1.71 ⁶	1,804	46
08-31-2021	11.07	0.19 ⁶	2.25	2.44	(0.17)	(0.52)	(0.69)	12.82	22.84	0.34	0.12	1.59 ⁶	1,754	30
08-31-2020	10.61	0.19 ⁶	1.38	1.57	(0.23)	(0.88)	(1.11)	11.07	15.44	0.35	0.13	1.86 ⁶	1,260	33
08-31-2019	11.85	0.21 ⁶	(0.26)	(0.05)	(0.24)	(0.95)	(1.19)	10.61	0.96	0.31	0.13	2.01 ⁶	891	40
Class R2
08-31-2023	9.75	0.16 ⁶	0.34	0.50	(0.11)	(1.32)	(1.43)	8.82	6.40	0.79	0.50	1.80 ⁶	9,418	22
08-31-2022	12.73	0.17 ⁶	(2.07)	(1.90)	(0.17)	(0.91)	(1.08)	9.75	(16.40)	0.76	0.50	1.50 ⁶	8,911	46
08-31-2021	11.01	0.14 ⁶	2.23	2.37	(0.13)	(0.52)	(0.65)	12.73	22.29	0.73	0.51	1.13 ⁶	12,297	30
08-31-2020	10.56	0.17 ⁶	1.35	1.52	(0.19)	(0.88)	(1.07)	11.01	15.00	0.74	0.52	1.62 ⁶	3,304	33
08-31-2019	11.79	0.19 ⁶	(0.27)	(0.08)	(0.20)	(0.95)	(1.15)	10.56	0.58	0.68	0.50	1.82 ⁶	2,744	40
Class R4
08-31-2023	9.78	0.18 ⁶	0.35	0.53	(0.13)	(1.32)	(1.45)	8.86	6.82	0.65	0.26	2.06 ⁶	916	22
08-31-2022	12.78	0.20 ⁶	(2.09)	(1.89)	(0.20)	(0.91)	(1.11)	9.78	(16.27)	0.62	0.26	1.75 ⁶	767	46
08-31-2021	11.04	0.16 ⁶	2.26	2.42	(0.16)	(0.52)	(0.68)	12.78	22.67	0.58	0.26	1.36 ⁶	845	30
08-31-2020	10.59	0.20 ⁶	1.34	1.54	(0.21)	(0.88)	(1.09)	11.04	15.23	0.59	0.27	1.91 ⁶	556	33
08-31-2019	11.82	0.22 ⁶	(0.28)	(0.06)	(0.22)	(0.95)	(1.17)	10.59	0.86	0.54	0.26	2.07 ⁶	451	40
Class R5
08-31-2023	9.81	0.19 ⁶	0.35	0.54	(0.15)	(1.32)	(1.47)	8.88	6.94	0.35	0.06	2.18 ⁶	10,747	22
08-31-2022	12.81	0.21 ⁶	(2.08)	(1.87)	(0.22)	(0.91)	(1.13)	9.81	(16.07)	0.32	0.06	1.92 ⁶	8,677	46
08-31-2021	11.06	0.20 ⁶	2.25	2.45	(0.18)	(0.52)	(0.70)	12.81	22.92	0.28	0.06	1.66 ⁶	6,770	30
08-31-2020	10.61	0.25 ⁶	1.31	1.56	(0.23)	(0.88)	(1.11)	11.06	15.44	0.28	0.06	2.36 ⁶	747	33
08-31-2019	11.85	0.22 ⁶	(0.26)	(0.04)	(0.25)	(0.95)	(1.20)	10.61	1.03	0.25	0.06	2.08 ⁶	947	40
Class R6
08-31-2023	9.81	0.20 ⁶	0.35	0.55	(0.16)	(1.32)	(1.48)	8.88	6.99	0.30	0.01	2.29 ⁶	98,309	22
08-31-2022	12.81	0.23 ⁶	(2.09)	(1.86)	(0.23)	(0.91)	(1.14)	9.81	(16.03)	0.27	0.01	2.02 ⁶	85,111	46
08-31-2021	11.06	0.19 ⁶	2.26	2.45	(0.18)	(0.52)	(0.70)	12.81	22.98	0.23	0.01	1.59 ⁶	89,308	30
08-31-2020	10.61	0.21 ⁶	1.36	1.57	(0.24)	(0.88)	(1.12)	11.06	15.50	0.23	—	2.05 ⁶	53,240	33
08-31-2019	11.85	0.22 ⁶	(0.25)	(0.03)	(0.26)	(0.95)	(1.21)	10.61	1.10	0.20	—	2.08 ⁶	38,634	40
Class 1
08-31-2023	9.82	0.20 ⁶	0.34	0.54	(0.15)	(1.32)	(1.47)	8.89	7.05	0.34	0.05	2.29 ⁶	824,933	22
08-31-2022	12.82	0.22 ⁶	(2.09)	(1.87)	(0.22)	(0.91)	(1.13)	9.82	(16.13)	0.31	0.05	1.95 ⁶	851,307	46
08-31-2021	11.07	0.19 ⁶	2.26	2.45	(0.18)	(0.52)	(0.70)	12.82	22.91	0.27	0.05	1.60 ⁶	1,081,454	30
08-31-2020	10.62	0.22 ⁶	1.34	1.56	(0.23)	(0.88)	(1.11)	11.07	15.43	0.27	0.05	2.11 ⁶	978,135	33
08-31-2019	11.85	0.23 ⁶	(0.26)	(0.03)	(0.25)	(0.95)	(1.20)	10.62	1.12	0.23	0.05	2.12 ⁶	967,661	40

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005, less than $0.005, $0.01, $0.01, and $0.02 per share and 0.02%, 0.04%, 0.09%, 0.10%, and 0.16%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20, and 8-31-19, respectively.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Financial highlights continued

Multimanager 2025 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	9.42	0.20 ⁶	0.21	0.41	(0.15)	(1.13)	(1.28)	8.55	5.43	0.72	0.42	2.32 ⁶	195,706	20
08-31-2022	12.17	0.21 ⁶	(1.83)	(1.62)	(0.20)	(0.93)	(1.13)	9.42	(14.73)	0.69	0.42	1.97 ⁶	207,424	45
08-31-2021	10.79	0.17 ⁶	1.88	2.05	(0.16)	(0.51)	(0.67)	12.17	19.63	0.66	0.42	1.49 ⁶	270,307	30
08-31-2020	10.44	0.18 ⁶	1.14	1.32	(0.21)	(0.76)	(0.97)	10.79	13.24	0.66	0.43	1.75 ⁶	213,868	35
08-31-2019	11.46	0.21 ⁶	(0.14)	0.07	(0.23)	(0.86)	(1.09)	10.44	1.80	0.60	0.41	2.01 ⁶	180,550	39
Class I
08-31-2023	9.39	0.23 ⁶	0.20	0.43	(0.18)	(1.13)	(1.31)	8.51	5.70	0.42	0.12	2.70 ⁶	1,623	20
08-31-2022	12.13	0.24 ⁶	(1.81)	(1.57)	(0.24)	(0.93)	(1.17)	9.39	(14.43)	0.39	0.12	2.26 ⁶	1,856	45
08-31-2021	10.76	0.22 ⁶	1.85	2.07	(0.19)	(0.51)	(0.70)	12.13	19.90	0.36	0.12	1.90 ⁶	2,701	30
08-31-2020	10.41	0.20 ⁶	1.16	1.36	(0.25)	(0.76)	(1.01)	10.76	13.61	0.36	0.13	1.96 ⁶	2,094	35
08-31-2019	11.43	0.15 ⁶	(0.05)	0.10	(0.26)	(0.86)	(1.12)	10.41	2.17	0.31	0.12	1.55 ⁶	1,502	39
Class R2
08-31-2023	9.34	0.19 ⁶	0.21	0.40	(0.14)	(1.13)	(1.27)	8.47	5.37	0.81	0.51	2.22 ⁶	7,929	20
08-31-2022	12.07	0.20 ⁶	(1.81)	(1.61)	(0.19)	(0.93)	(1.12)	9.34	(14.77)	0.79	0.51	1.87 ⁶	8,960	45
08-31-2021	10.71	0.17 ⁶	1.85	2.02	(0.15)	(0.51)	(0.66)	12.07	19.51	0.72	0.48	1.46 ⁶	13,021	30
08-31-2020	10.37	0.16 ⁶	1.15	1.31	(0.21)	(0.76)	(0.97)	10.71	13.16	0.75	0.52	1.62 ⁶	4,775	35
08-31-2019	11.39	0.18 ⁶	(0.12)	0.06	(0.22)	(0.86)	(1.08)	10.37	1.71	0.69	0.50	1.80 ⁶	4,273	39
Class R4
08-31-2023	9.39	0.21 ⁶	0.22	0.43	(0.17)	(1.13)	(1.30)	8.52	5.65	0.67	0.26	2.50 ⁶	697	20
08-31-2022	12.13	0.22 ⁶	(1.81)	(1.59)	(0.22)	(0.93)	(1.15)	9.39	(14.56)	0.63	0.26	2.08 ⁶	670	45
08-31-2021	10.76	0.19 ⁶	1.86	2.05	(0.17)	(0.51)	(0.68)	12.13	19.76	0.59	0.25	1.65 ⁶	698	30
08-31-2020	10.41	0.20 ⁶	1.14	1.34	(0.23)	(0.76)	(0.99)	10.76	13.45	0.60	0.26	1.95 ⁶	488	35
08-31-2019	11.44	0.23 ⁶	(0.15)	0.08	(0.25)	(0.86)	(1.11)	10.41	1.91	0.55	0.26	2.22 ⁶	736	39
Class R5
08-31-2023	9.38	0.22 ⁶	0.22	0.44	(0.19)	(1.13)	(1.32)	8.50	5.78	0.37	0.06	2.53 ⁶	9,373	20
08-31-2022	12.12	0.24 ⁶	(1.81)	(1.57)	(0.24)	(0.93)	(1.17)	9.38	(14.40)	0.33	0.06	2.28 ⁶	7,409	45
08-31-2021	10.75	0.23 ⁶	1.84	2.07	(0.19)	(0.51)	(0.70)	12.12	19.98	0.30	0.06	1.98 ⁶	4,855	30
08-31-2020	10.40	0.23 ⁶	1.13	1.36	(0.25)	(0.76)	(1.01)	10.75	13.71	0.30	0.06	2.25 ⁶	1,251	35
08-31-2019	11.43	0.25 ⁶	(0.15)	0.10	(0.27)	(0.86)	(1.13)	10.40	2.14	0.25	0.07	2.37 ⁶	1,342	39
Class R6
08-31-2023	9.37	0.23 ⁶	0.22	0.45	(0.19)	(1.13)	(1.32)	8.50	5.84	0.32	0.01	2.71 ⁶	69,535	20
08-31-2022	12.11	0.26 ⁶	(1.82)	(1.56)	(0.25)	(0.93)	(1.18)	9.37	(14.36)	0.28	0.01	2.41 ⁶	63,101	45
08-31-2021	10.74	0.21 ⁶	1.87	2.08	(0.20)	(0.51)	(0.71)	12.11	20.06	0.25	0.01	1.89 ⁶	70,692	30
08-31-2020	10.40	0.21 ⁶	1.15	1.36	(0.26)	(0.76)	(1.02)	10.74	13.67	0.25	—	2.12 ⁶	48,742	35
08-31-2019	11.42	0.25 ⁶	(0.13)	0.12	(0.28)	(0.86)	(1.14)	10.40	2.31	0.20	—	2.44 ⁶	38,659	39
Class 1
08-31-2023	9.38	0.23 ⁶	0.22	0.45	(0.19)	(1.13)	(1.32)	8.51	5.91	0.36	0.05	2.71 ⁶	636,988	20
08-31-2022	12.12	0.25 ⁶	(1.82)	(1.57)	(0.24)	(0.93)	(1.17)	9.38	(14.40)	0.32	0.05	2.34 ⁶	731,490	45
08-31-2021	10.75	0.21 ⁶	1.86	2.07	(0.19)	(0.51)	(0.70)	12.12	19.99	0.29	0.05	1.87 ⁶	989,063	30
08-31-2020	10.40	0.22 ⁶	1.14	1.36	(0.25)	(0.76)	(1.01)	10.75	13.71	0.28	0.05	2.19 ⁶	935,821	35
08-31-2019	11.43	0.25 ⁶	(0.15)	0.10	(0.27)	(0.86)	(1.13)	10.40	2.15	0.24	0.05	2.42 ⁶	983,455	39

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005, less than $0.005, $0.01, $0.01, and $0.02 per share and 0.02%, 0.04%, 0.08%, 0.09%, and 0.15%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20, and 8-31-19, respectively.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

Multimanager 2020 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	8.51	0.21 ⁶	0.13	0.34	(0.22)	(0.83)	(1.05)	7.80	4.76	0.75	0.42	2.67 ⁶	161,772	19
08-31-2022	10.90	0.22 ⁶	(1.49)	(1.27)	(0.22)	(0.90)	(1.12)	8.51	(13.07)	0.72	0.42	2.32 ⁶	176,088	38
08-31-2021	10.06	0.19 ⁶	1.39	1.58	(0.18)	(0.56)	(0.74)	10.90	16.29	0.69	0.42	1.79 ⁶	234,516	29
08-31-2020	9.89	0.18 ⁶	0.89	1.07	(0.23)	(0.67)	(0.90)	10.06	11.32	0.69	0.43	1.93 ⁶	193,591	37
08-31-2019	10.66	0.22 ⁶	(0.03)	0.19	(0.24)	(0.72)	(0.96)	9.89	2.89	0.62	0.41	2.27 ⁶	171,370	40
Class I
08-31-2023	8.53	0.22 ⁶	0.13	0.35	(0.24)	(0.83)	(1.07)	7.81	4.97	0.46	0.12	2.77 ⁶	921	19
08-31-2022	10.92	0.29 ⁶	(1.53)	(1.24)	(0.25)	(0.90)	(1.15)	8.53	(12.78)	0.42	0.12	2.98 ⁶	344	38
08-31-2021	10.08	0.21 ⁶	1.39	1.60	(0.20)	(0.56)	(0.76)	10.92	16.57	0.39	0.12	2.04 ⁶	446	29
08-31-2020	9.90	0.20 ⁶	0.91	1.11	(0.26)	(0.67)	(0.93)	10.08	11.75	0.39	0.12	2.12 ⁶	477	37
08-31-2019	10.67	0.26 ⁶	(0.04)	0.22	(0.27)	(0.72)	(0.99)	9.90	3.23	0.33	0.13	2.63 ⁶	230	40
Class R2
08-31-2023	8.46	0.20 ⁶	0.12	0.32	(0.21)	(0.83)	(1.04)	7.74	4.54	0.85	0.51	2.60 ⁶	4,220	19
08-31-2022	10.84	0.21 ⁶	(1.48)	(1.27)	(0.21)	(0.90)	(1.11)	8.46	(13.13)	0.81	0.50	2.22 ⁶	5,397	38
08-31-2021	10.01	0.19 ⁶	1.37	1.56	(0.17)	(0.56)	(0.73)	10.84	16.20	0.73	0.45	1.86 ⁶	6,093	29
08-31-2020	9.84	0.18 ⁶	0.89	1.07	(0.23)	(0.67)	(0.90)	10.01	11.30	0.77	0.51	1.88 ⁶	1,014	37
08-31-2019	10.61	0.22 ⁶	(0.04)	0.18	(0.23)	(0.72)	(0.95)	9.84	2.77	0.71	0.51	2.23 ⁶	1,098	40
Class R4
08-31-2023	8.46	0.22 ⁶	0.13	0.35	(0.23)	(0.83)	(1.06)	7.75	4.97	0.70	0.26	2.81 ⁶	342	19
08-31-2022	10.85	0.28 ⁶	(1.53)	(1.25)	(0.24)	(0.90)	(1.14)	8.46	(12.99)	0.66	0.26	2.80 ⁶	263	38
08-31-2021	10.01	0.21 ⁶	1.38	1.59	(0.19)	(0.56)	(0.75)	10.85	16.55	0.63	0.25	2.04 ⁶	599	29
08-31-2020	9.85	0.21 ⁶	0.87	1.08	(0.25)	(0.67)	(0.92)	10.01	11.45	0.63	0.27	2.23 ⁶	144	37
08-31-2019	10.62	0.23 ⁶	(0.02)	0.21	(0.26)	(0.72)	(0.98)	9.85	3.07	0.56	0.26	2.39 ⁶	239	40
Class R5
08-31-2023	8.51	0.24 ⁶	0.12	0.36	(0.25)	(0.83)	(1.08)	7.79	5.06	0.39	0.05	3.02 ⁶	7,670	19
08-31-2022	10.90	0.26 ⁶	(1.49)	(1.23)	(0.26)	(0.90)	(1.16)	8.51	(12.75)	0.36	0.06	2.71 ⁶	7,380	38
08-31-2021	10.06	0.23 ⁶	1.38	1.61	(0.21)	(0.56)	(0.77)	10.90	16.68	0.33	0.06	2.23 ⁶	8,917	29
08-31-2020	9.89	0.23 ⁶	0.88	1.11	(0.27)	(0.67)	(0.94)	10.06	11.74	0.33	0.06	2.37 ⁶	3,949	37
08-31-2019	10.66	0.27 ⁶	(0.04)	0.23	(0.28)	(0.72)	(1.00)	9.89	3.29	0.27	0.06	2.71 ⁶	3,778	40
Class R6
08-31-2023	8.49	0.24 ⁶	0.12	0.36	(0.25)	(0.83)	(1.08)	7.77	5.13	0.35	0.01	3.09 ⁶	31,413	19
08-31-2022	10.88	0.26 ⁶	(1.49)	(1.23)	(0.26)	(0.90)	(1.16)	8.49	(12.73)	0.31	0.01	2.73 ⁶	29,900	38
08-31-2021	10.04	0.23 ⁶	1.38	1.61	(0.21)	(0.56)	(0.77)	10.88	16.77	0.29	0.01	2.24 ⁶	33,944	29
08-31-2020	9.87	0.23 ⁶	0.89	1.12	(0.28)	(0.67)	(0.95)	10.04	11.82	0.28	—	2.39 ⁶	28,864	37
08-31-2019	10.65	0.26 ⁶	(0.03)	0.23	(0.29)	(0.72)	(1.01)	9.87	3.28	0.21	—	2.67 ⁶	28,384	40
Class 1
08-31-2023	8.50	0.24 ⁶	0.13	0.37	(0.25)	(0.83)	(1.08)	7.79	5.20	0.39	0.05	3.06 ⁶	283,344	19
08-31-2022	10.90	0.26 ⁶	(1.50)	(1.24)	(0.26)	(0.90)	(1.16)	8.50	(12.84)	0.35	0.05	2.69 ⁶	330,749	38
08-31-2021	10.06	0.23 ⁶	1.38	1.61	(0.21)	(0.56)	(0.77)	10.90	16.69	0.33	0.05	2.19 ⁶	471,564	29
08-31-2020	9.89	0.23 ⁶	0.88	1.11	(0.27)	(0.67)	(0.94)	10.06	11.75	0.31	0.05	2.37 ⁶	508,214	37
08-31-2019	10.66	0.27 ⁶	(0.04)	0.23	(0.28)	(0.72)	(1.00)	9.89	3.32	0.25	0.05	2.69 ⁶	590,329	40

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005, less than $0.005, $0.01, $0.01, and $0.02 per share and 0.02%, 0.04%, 0.07%, 0.09%, and 0.15%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20, and 8-31-19, respectively.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Financial highlights continued

Multimanager 2015 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	7.84	0.21 ⁶	0.09	0.30	(0.22)	(0.68)	(0.90)	7.24	4.55	0.83	0.42	2.93 ⁶	77,802	17
08-31-2022	9.73	0.22 ⁶	(1.27)	(1.05)	(0.22)	(0.62)	(0.84)	7.84	(11.87)	0.78	0.42	2.56 ⁶	85,355	36
08-31-2021	9.15	0.19 ⁶	1.08	1.27	(0.18)	(0.51)	(0.69)	9.73	14.43	0.75	0.42	2.00 ⁶	109,061	27
08-31-2020	9.12	0.18 ⁶	0.66	0.84	(0.23)	(0.58)	(0.81)	9.15	9.64	0.76	0.43	2.06 ⁶	97,644	41
08-31-2019	9.75	0.23 ⁶	0.04	0.27	(0.26)	(0.64)	(0.90)	9.12	3.85	0.66	0.41	2.53 ⁶	91,688	41
Class I
08-31-2023	7.84	0.23 ⁶	0.10	0.33	(0.25)	(0.68)	(0.93)	7.24	4.92	0.53	0.11	3.13 ⁶	703	17
08-31-2022	9.74	0.24 ⁶	(1.29)	(1.05)	(0.24)	(0.61)	(0.85)	7.84	(11.69)	0.48	0.12	2.81 ⁶	1,399	36
08-31-2021	9.16	0.22 ⁶	1.07	1.29	(0.20)	(0.51)	(0.71)	9.74	14.73	0.45	0.12	2.31 ⁶	863	27
08-31-2020	9.13	0.21 ⁶	0.66	0.87	(0.26)	(0.58)	(0.84)	9.16	9.97	0.46	0.13	2.38 ⁶	823	41
08-31-2019	9.76	0.25 ⁶	0.05	0.30	(0.29)	(0.64)	(0.93)	9.13	4.21	0.37	0.13	2.82 ⁶	670	41
Class R2
08-31-2023	7.78	0.21 ⁶	0.08	0.29	(0.21)	(0.68)	(0.89)	7.18	4.47	0.92	0.51	2.88 ⁶	493	17
08-31-2022	9.67	0.20 ⁶	(1.26)	(1.06)	(0.21)	(0.62)	(0.83)	7.78	(12.03)	0.87	0.51	2.19 ⁶	621	36
08-31-2021	9.09	0.19 ⁶	1.07	1.26	(0.17)	(0.51)	(0.68)	9.67	14.45	0.80	0.46	2.00 ⁶	2,331	27
08-31-2020	9.07	0.12 ⁶	0.71	0.83	(0.23)	(0.58)	(0.81)	9.09	9.52	0.84	0.51	1.39 ⁶	164	41
08-31-2019	9.69	0.23 ⁶	0.04	0.27	(0.25)	(0.64)	(0.89)	9.07	3.87	0.73	0.49	2.53 ⁶	33	41
Class R4
08-31-2023	7.85	0.24 ⁶	0.08	0.32	(0.24)	(0.68)	(0.92)	7.25	4.79	0.67	0.16	3.23 ⁶	18	17
08-31-2022	9.75	0.25 ⁶	(1.28)	(1.03)	(0.25)	(0.62)	(0.87)	7.85	(11.65)	0.63	0.16	2.85 ⁶	8	36
08-31-2021	9.12	0.21 ⁶	1.12	1.33	(0.19)	(0.51)	(0.70)	9.75	15.27	0.67	0.23	2.21 ⁶	10	27
08-31-2020	9.09	0.19 ⁶	0.67	0.86	(0.25)	(0.58)	(0.83)	9.12	9.85	0.70	0.27	2.22 ⁶	12	41
08-31-2019	9.72	0.25 ⁶	0.04	0.29	(0.28)	(0.64)	(0.92)	9.09	4.06	0.61	0.26	2.74 ⁶	11	41
Class R5
08-31-2023	7.83	0.24 ⁶	0.09	0.33	(0.25)	(0.68)	(0.93)	7.23	4.98	0.47	0.06	3.27 ⁶	487	17
08-31-2022	9.73	0.24 ⁶	(1.27)	(1.03)	(0.25)	(0.62)	(0.87)	7.83	(11.66)	0.42	0.06	2.82 ⁶	516	36
08-31-2021	9.15	0.22 ⁶	1.08	1.30	(0.21)	(0.51)	(0.72)	9.73	14.80	0.40	0.06	2.29 ⁶	262	27
08-31-2020	9.12	0.22 ⁶	0.66	0.88	(0.27)	(0.58)	(0.85)	9.15	10.06	0.39	0.06	2.52 ⁶	322	41
08-31-2019	9.75	0.28 ⁶	0.03	0.31	(0.30)	(0.64)	(0.94)	9.12	4.27	0.31	0.07	2.97 ⁶	323	41
Class R6
08-31-2023	7.85	0.24 ⁶	0.08	0.32	(0.25)	(0.68)	(0.93)	7.24	4.89	0.42	0.01	3.35 ⁶	10,008	17
08-31-2022	9.74	0.26 ⁶	(1.28)	(1.02)	(0.25)	(0.62)	(0.87)	7.85	(11.49)	0.37	0.01	2.98 ⁶	9,685	36
08-31-2021	9.16	0.23 ⁶	1.07	1.30	(0.21)	(0.51)	(0.72)	9.74	14.86	0.35	0.01	2.43 ⁶	12,107	27
08-31-2020	9.12	0.22 ⁶	0.67	0.89	(0.27)	(0.58)	(0.85)	9.16	10.24	0.34	—	2.52 ⁶	11,162	41
08-31-2019	9.76	0.26 ⁶	0.04	0.30	(0.30)	(0.64)	(0.94)	9.12	4.23	0.26	—	2.93 ⁶	11,764	41
Class 1
08-31-2023	7.84	0.24 ⁶	0.09	0.33	(0.25)	(0.68)	(0.93)	7.24	4.98	0.47	0.05	3.30 ⁶	85,981	17
08-31-2022	9.73	0.26 ⁶	(1.29)	(1.03)	(0.25)	(0.61)	(0.86)	7.84	(11.53)	0.42	0.05	2.94 ⁶	99,848	36
08-31-2021	9.16	0.22 ⁶	1.07	1.29	(0.21)	(0.51)	(0.72)	9.73	14.69	0.39	0.05	2.39 ⁶	138,822	27
08-31-2020	9.12	0.22 ⁶	0.67	0.89	(0.27)	(0.58)	(0.85)	9.16	10.19	0.38	0.05	2.48 ⁶	156,575	41
08-31-2019	9.75	0.27 ⁶	0.04	0.31	(0.30)	(0.64)	(0.94)	9.12	4.28	0.30	0.05	2.98 ⁶	192,409	41

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005, less than $0.005, $0.01, $0.01, and $0.02 per share and 0.02%, 0.04%, 0.07%, 0.09%, and 0.16%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20, and 8-31-19, respectively.

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

Multimanager 2010 Lifetime 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)^{3, 4}	Expenses before reductions (%)⁵	Expenses including reductions (%)⁵	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
Class A
08-31-2023	7.78	0.23 ⁶	0.07	0.30	(0.24)	(0.48)	(0.72)	7.36	4.37	0.88	0.42	3.18 ⁶	39,826	25
08-31-2022	9.41	0.24 ⁶	(1.16)	(0.92)	(0.22)	(0.49)	(0.71)	7.78	(10.62)	0.83	0.42	2.79 ⁶	42,560	39
08-31-2021	8.93	0.20 ⁶	0.89	1.09	(0.19)	(0.42)	(0.61)	9.41	12.62	0.80	0.42	2.16 ⁶	52,276	34
08-31-2020	8.86	0.19 ⁶	0.54	0.73	(0.23)	(0.43)	(0.66)	8.93	8.50	0.81	0.43	2.18 ⁶	45,532	46
08-31-2019	9.25	0.23 ⁶	0.11	0.34	(0.26)	(0.47)	(0.73)	8.86	4.50	0.70	0.41	2.68 ⁶	45,444	48
Class I
08-31-2023	7.79	0.26 ⁶	0.04	0.30	(0.26)	(0.48)	(0.74)	7.35	4.45	0.57	0.11	3.49 ⁶	279	25
08-31-2022	9.41	0.26 ⁶	(1.14)	(0.88)	(0.25)	(0.49)	(0.74)	7.79	(10.24)	0.53	0.12	3.06 ⁶	515	39
08-31-2021	8.93	0.22 ⁶	0.89	1.11	(0.21)	(0.42)	(0.63)	9.41	12.93	0.50	0.12	2.46 ⁶	452	34
08-31-2020	8.87	0.20 ⁶	0.54	0.74	(0.25)	(0.43)	(0.68)	8.93	8.70	0.51	0.13	2.34 ⁶	503	46
08-31-2019	9.25	0.27 ⁶	0.11	0.38	(0.29)	(0.47)	(0.76)	8.87	4.98	0.42	0.13	3.03 ⁶	133	48
Class R2
08-31-2023	7.77	0.23 ⁶	0.05	0.28	(0.23)	(0.48)	(0.71)	7.34	4.13	0.96	0.50	3.15 ⁶	132	25
08-31-2022	9.39	0.23 ⁶	(1.15)	(0.92)	(0.21)	(0.49)	(0.70)	7.77	(10.59)	0.91	0.50	2.71 ⁶	553	39
08-31-2021	8.91	0.19 ⁶	0.89	1.08	(0.18)	(0.42)	(0.60)	9.39	12.60	0.84	0.45	2.13 ⁶	568	34
08-31-2020	8.85	0.18 ⁶	0.53	0.71	(0.22)	(0.43)	(0.65)	8.91	8.31	0.90	0.51	2.10 ⁶	359	46
08-31-2019	9.23	0.22 ⁶	0.12	0.34	(0.25)	(0.47)	(0.72)	8.85	4.51	0.80	0.51	2.57 ⁶	491	48
Class R4
08-31-2023	7.78	0.24 ⁶	0.06	0.30	(0.25)	(0.48)	(0.73)	7.35	4.42	0.82	0.26	3.32 ⁶	60	25
08-31-2022	9.41	0.25 ⁶	(1.16)	(0.91)	(0.23)	(0.49)	(0.72)	7.78	(10.48)	0.77	0.26	2.94 ⁶	54	39
08-31-2021	8.92	0.21 ⁶	0.90	1.11	(0.20)	(0.42)	(0.62)	9.41	12.92	0.74	0.26	2.32 ⁶	66	34
08-31-2020	8.86	0.20 ⁶	0.53	0.73	(0.24)	(0.43)	(0.67)	8.92	8.57	0.75	0.26	2.33 ⁶	52	46
08-31-2019	9.24	0.24 ⁶	0.12	0.36	(0.27)	(0.47)	(0.74)	8.86	4.79	0.65	0.26	2.78 ⁶	89	48
Class R5
08-31-2023	7.78	0.26 ⁶	0.06	0.32	(0.27)	(0.48)	(0.75)	7.35	4.64	0.52	0.06	3.54 ⁶	1,458	25
08-31-2022	9.42	0.25 ⁶	(1.15)	(0.90)	(0.25)	(0.49)	(0.74)	7.78	(10.30)	0.47	0.06	3.07 ⁶	1,693	39
08-31-2021	8.93	0.24 ⁶	0.89	1.13	(0.22)	(0.42)	(0.64)	9.42	12.99	0.44	0.05	2.58 ⁶	701	34
08-31-2020	8.87	0.24 ⁶	0.51	0.75	(0.26)	(0.43)	(0.69)	8.93	8.78	0.45	0.06	2.76 ⁶	25	46
08-31-2019	9.25	0.28 ⁶	0.10	0.38	(0.29)	(0.47)	(0.76)	8.87	5.03	0.35	0.06	3.21 ⁶	34	48
Class R6
08-31-2023	7.80	0.26 ⁶	0.06	0.32	(0.27)	(0.48)	(0.75)	7.37	4.69	0.47	0.01	3.57 ⁶	10,420	25
08-31-2022	9.43	0.28 ⁶	(1.16)	(0.88)	(0.26)	(0.49)	(0.75)	7.80	(10.22)	0.42	0.01	3.21 ⁶	10,168	39
08-31-2021	8.94	0.23 ⁶	0.90	1.13	(0.22)	(0.42)	(0.64)	9.43	13.17	0.40	0.01	2.57 ⁶	10,913	34
08-31-2020	8.88	0.22 ⁶	0.53	0.75	(0.26)	(0.43)	(0.69)	8.94	8.83	0.40	—	2.59 ⁶	8,496	46
08-31-2019	9.26	0.26 ⁶	0.13	0.39	(0.30)	(0.47)	(0.77)	8.88	5.09	0.30	—	2.97 ⁶	8,356	48
Class 1
08-31-2023	7.79	0.26 ⁶	0.06	0.32	(0.27)	(0.48)	(0.75)	7.36	4.64	0.51	0.05	3.55 ⁶	78,429	25
08-31-2022	9.42	0.27 ⁶	(1.16)	(0.89)	(0.25)	(0.49)	(0.74)	7.79	(10.27)	0.46	0.05	3.17 ⁶	87,991	39
08-31-2021	8.94	0.23 ⁶	0.89	1.12	(0.22)	(0.42)	(0.64)	9.42	13.00	0.44	0.05	2.55 ⁶	113,965	34
08-31-2020	8.87	0.22 ⁶	0.54	0.76	(0.26)	(0.43)	(0.69)	8.94	8.90	0.44	0.05	2.56 ⁶	118,858	46
08-31-2019	9.26	0.27 ⁶	0.10	0.37	(0.29)	(0.47)	(0.76)	8.87	4.92	0.34	0.05	3.07 ⁶	134,078	48

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

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

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.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005, less than $0.005, $0.01, $0.01, and $0.02 per share and 0.03%, 0.05%, 0.08%, 0.09%, and 0.17%, for the periods ended 8-31-23, 8-31-22, 8-31-21, 8-31-20, and 8-31-19, respectively.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Notes to financial statements

Note 1—Organization

John Hancock Funds II (the Trust) is an open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, twelve of which are presented in this report (collectively, Multimanager Lifetime Portfolios, or the portfolios and individually, the portfolio). The portfolios operate as “funds of funds” that may invest in affiliated underlying funds of the Trust, other funds in the John Hancock group of funds complex, non-John Hancock funds and certain other permitted investments.

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 shares are offered to all investors. Class I shares are offered to institutions and certain investors. Class R2, Class R4 and Class R5 shares are available only to certain retirement and 529 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.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.

The investment objective of each portfolio is to seek high total return through the portfolio’s target retirement date, with a greater focus on income beyond the target date. Total return, commonly understood as the combination of income and capital appreciation, includes interest, capital gains, dividends, and distributions realized over a given period of time.

The accounting policies of the underlying funds in which the portfolios invest are outlined in the underlying funds’ shareholder reports, which include the underlying funds’ financial statements. These are available on the Securities and Exchange Commission (SEC) website at sec.gov. John Hancock underlying funds’ shareholder reports are also available without charge by calling 800-225-5291 or visiting jhinvestments.com. 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 Advisor’s Valuation Policies and Procedures.

In order to value the securities, the portfolios use the following valuation techniques: Investments in affiliated underlying funds and other open-end mutual funds, including John Hancock Collateral Trust, are valued at their respective NAVs each business day. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices.

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

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 Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the portfolios’ investments as of August 31, 2023, by major security category or type:

	Total value at 8-31-23	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Multimanager 2065 Lifetime Portfolio
Investments in securities:
Assets

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

	Total value at 8-31-23	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Multimanager 2065 Lifetime Portfolio (continued)
Affiliated investment companies	$52,287,833	$52,287,833	—	—
Unaffiliated investment companies	3,813,070	3,813,070	—	—
Common stocks	140	—	—	$140
U.S. Government and Agency obligations	1,174,950	—	$1,174,950	—
Short-term investments	112,190	112,190	—	—
Total investments in securities	$57,388,183	$56,213,093	$1,174,950	$140

Multimanager 2060 Lifetime Portfolio
Investments in securities:
Assets
Affiliated investment companies	$219,590,039	$219,590,039	—	—
Unaffiliated investment companies	16,031,949	16,031,949	—	—
Common stocks	3,095	—	—	$3,095
U.S. Government and Agency obligations	5,187,142	—	$5,187,142	—
Short-term investments	534,537	534,537	—	—
Total investments in securities	$241,346,762	$236,156,525	$5,187,142	$3,095

Multimanager 2055 Lifetime Portfolio
Investments in securities:
Assets
Affiliated investment companies	$328,516,959	$328,516,959	—	—
Unaffiliated investment companies	23,935,815	23,935,815	—	—
Common stocks	7,447	6	—	$7,441
U.S. Government and Agency obligations	7,828,071	—	$7,828,071	—
Short-term investments	727,201	727,201	—	—
Total investments in securities	$361,015,493	$353,179,981	$7,828,071	$7,441

Multimanager 2050 Lifetime Portfolio
Investments in securities:
Assets
Affiliated investment companies	$505,516,684	$505,516,684	—	—
Unaffiliated investment companies	36,652,413	36,652,413	—	—
Common stocks	14,405	14	—	$14,391
U.S. Government and Agency obligations	12,197,871	—	$12,197,871	—
Short-term investments	973,642	973,642	—	—
Total investments in securities	$555,355,015	$543,142,753	$12,197,871	$14,391

Multimanager 2045 Lifetime Portfolio
Investments in securities:
Assets
Affiliated investment companies	$781,558,509	$781,558,509	—	—
Unaffiliated investment companies	54,152,675	54,152,675	—	—
Common stocks	25,974	29	—	$25,945
U.S. Government and Agency obligations	24,025,929	—	$24,025,929	—
Short-term investments	2,275,967	2,275,967	—	—
Total investments in securities	$862,039,054	$837,987,180	$24,025,929	$25,945

Multimanager 2040 Lifetime Portfolio
Investments in securities:
Assets

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

	Total value at 8-31-23	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Multimanager 2040 Lifetime Portfolio (continued)
Affiliated investment companies	$822,751,649	$822,751,649	—	—
Unaffiliated investment companies	50,170,302	50,170,302	—	—
Common stocks	28,136	31	—	$28,105
U.S. Government and Agency obligations	36,413,150	—	$36,413,150	—
Short-term investments	2,107,588	2,107,588	—	—
Total investments in securities	$911,470,825	$875,029,570	$36,413,150	$28,105

Multimanager 2035 Lifetime Portfolio
Investments in securities:
Assets
Affiliated investment companies	$958,799,876	$958,799,876	—	—
Unaffiliated investment companies	48,737,954	48,737,954	—	—
Common stocks	29,834	38	—	$29,796
U.S. Government and Agency obligations	53,213,878	—	$53,213,878	—
Short-term investments	2,000,446	2,000,446	—	—
Total investments in securities	$1,062,781,988	$1,009,538,314	$53,213,878	$29,796

Multimanager 2030 Lifetime Portfolio
Investments in securities:
Assets
Affiliated investment companies	$1,047,787,043	$1,047,787,043	—	—
Unaffiliated investment companies	49,288,310	49,288,310	—	—
Common stocks	32,905	44	—	$32,861
U.S. Government and Agency obligations	71,703,373	—	$71,703,373	—
Short-term investments	2,584,433	2,584,433	—	—
Total investments in securities	$1,171,396,064	$1,099,659,830	$71,703,373	$32,861

Multimanager 2025 Lifetime Portfolio
Investments in securities:
Assets
Affiliated investment companies	$825,878,763	$825,878,763	—	—
Unaffiliated investment companies	29,476,532	29,476,532	—	—
Common stocks	23,897	45	—	$23,852
U.S. Government and Agency obligations	63,800,271	—	$63,800,271	—
Short-term investments	2,543,441	2,543,441	—	—
Total investments in securities	$921,722,904	$857,898,781	$63,800,271	$23,852

Multimanager 2020 Lifetime Portfolio
Investments in securities:
Assets
Affiliated investment companies	$439,910,988	$439,910,988	—	—
Unaffiliated investment companies	11,867,666	11,867,666	—	—
Common stocks	11,032	33	—	$10,999
U.S. Government and Agency obligations	36,389,245	—	$36,389,245	—
Short-term investments	1,430,971	1,430,971	—	—
Total investments in securities	$489,609,902	$453,209,658	$36,389,245	$10,999

Multimanager 2015 Lifetime Portfolio
Investments in securities:
Assets

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

	Total value at 8-31-23	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Multimanager 2015 Lifetime Portfolio (continued)
Affiliated investment companies	$157,155,418	$157,155,418	—	—
Unaffiliated investment companies	4,067,113	4,067,113	—	—
Common stocks	3,303	13	—	$3,290
U.S. Government and Agency obligations	13,879,545	—	$13,879,545	—
Short-term investments	353,423	353,423	—	—
Total investments in securities	$175,458,802	$161,575,967	$13,879,545	$3,290

Multimanager 2010 Lifetime Portfolio
Investments in securities:
Assets
Affiliated investment companies	$117,137,985	$117,137,985	—	—
Unaffiliated investment companies	2,268,957	2,268,957	—	—
Common stocks	1,647	8	—	$1,639
U.S. Government and Agency obligations	10,796,801	—	$10,796,801	—
Short-term investments	367,286	367,286	—	—
Total investments in securities	$130,572,676	$119,774,236	$10,796,801	$1,639

Level 3 includes securities valued at $0. Refer to Portfolios’ investments.

Inflation-indexed bonds. Inflation-indexed bonds are securities that generally have a lower coupon interest rate fixed at issuance but whose principal value is periodically adjusted based on a rate of inflation, such as the Consumer Price Index. Over the life of an inflation-indexed bond, interest is paid on the inflation adjusted principal value as described above. Increases in the principal amount of these securities are recorded as interest income. Decreases in the principal amount of these securities may reduce interest income to the extent of income previously recorded. If these decreases are in excess of income previously recorded, an adjustment to the cost of the security is made.

Stripped securities. Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the portfolios may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities present additional credit risk such that the portfolios may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.

Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation. Return of capital distributions from underlying funds, if any, are treated as a reduction of cost.

Overdraft. The portfolios may have the ability to 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. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.

Line of credit. The portfolios and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, a portfolio 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 each line of credit, is charged to each participating portfolio based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statements of operations. For the year ended August 31, 2023, the portfolios had no borrowings under the line of credit.

Commitment fees for the year ended August 31, 2023 were as follows:

Portfolio	Commitment fee
Multimanager 2065 Lifetime Portfolio	$3,206

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Portfolio	Commitment fee
Multimanager 2060 Lifetime Portfolio	$3,751
Multimanager 2055 Lifetime Portfolio	4,127
Multimanager 2050 Lifetime Portfolio	4,727
Multimanager 2045 Lifetime Portfolio	5,703
Multimanager 2040 Lifetime Portfolio	5,877
Multimanager 2035 Lifetime Portfolio	6,368
Multimanager 2030 Lifetime Portfolio	6,778
Multimanager 2025 Lifetime Portfolio	6,090
Multimanager 2020 Lifetime Portfolio	4,681
Multimanager 2015 Lifetime Portfolio	3,639
Multimanager 2010 Lifetime Portfolio	3,491

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

Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the 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 charged 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. Each portfolio intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.

For federal income tax purposes, as of August 31, 2023, certain portfolios have capital loss carryforwards available to offset future net realized capital gains. The following table details the capital loss carryforwards available as of August 31, 2023:

	No Expiration Date
Portfolio	Short Term	Long Term
Multimanager 2030 Lifetime Portfolio	$3,340,710	$5,903,831
Multimanager 2025 Lifetime Portfolio	5,516,489	5,403,142
Multimanager 2020 Lifetime Portfolio	1,701,532	3,948,307
Multimanager 2015 Lifetime Portfolio	588,299	469,367
Multimanager 2010 Lifetime Portfolio	339,695	383,691

As of August 31, 2023, 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.

For federal income tax purposes, the costs of investments owned on August 31, 2023, including short-term investments, were as follows:

Portfolio	Aggregate cost	Unrealized appreciation	Unrealized (depreciation)	Net unrealized appreciation/ (depreciation)
Multimanager 2065 Lifetime Portfolio	$60,150,081	$1,533,330	$(4,295,228)	$(2,761,898)
Multimanager 2060 Lifetime Portfolio	254,853,947	7,266,598	(20,773,783)	(13,507,185)
Multimanager 2055 Lifetime Portfolio	378,461,717	13,212,374	(30,658,598)	(17,446,224)
Multimanager 2050 Lifetime Portfolio	578,467,284	240,336	(23,352,605)	(23,112,269)
Multimanager 2045 Lifetime Portfolio	849,528,653	41,058,200	(28,547,799)	12,510,401
Multimanager 2040 Lifetime Portfolio	905,027,840	42,334,081	(35,891,096)	6,442,985
Multimanager 2035 Lifetime Portfolio	1,065,621,524	49,872,166	(52,711,702)	(2,839,536)
Multimanager 2030 Lifetime Portfolio	1,184,398,164	53,402,276	(66,404,376)	(13,002,100)
Multimanager 2025 Lifetime Portfolio	948,225,719	34,612,315	(61,115,130)	(26,502,815)
Multimanager 2020 Lifetime Portfolio	512,110,201	26,136,602	(48,636,901)	(22,500,299)
Multimanager 2015 Lifetime Portfolio	183,572,786	8,844,366	(16,958,350)	(8,113,984)
Multimanager 2010 Lifetime Portfolio	138,704,991	5,158,379	(13,290,694)	(8,132,315)

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 portfolios generally declare and pay dividends and capital gain distributions, if any, annually.

The tax character of distributions for the year ended August 31, 2023 was as follows:

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Portfolio	Ordinary Income	Long Term Capital Gains	Total
Multimanager 2065 Lifetime Portfolio	$456,639	$1,143,704	$1,600,343
Multimanager 2060 Lifetime Portfolio	2,447,111	22,159,811	24,606,922
Multimanager 2055 Lifetime Portfolio	3,747,487	37,367,003	41,114,490
Multimanager 2050 Lifetime Portfolio	5,788,670	71,823,120	77,611,790
Multimanager 2045 Lifetime Portfolio	9,905,078	145,127,077	155,032,155
Multimanager 2040 Lifetime Portfolio	10,947,999	146,790,668	157,738,667
Multimanager 2035 Lifetime Portfolio	13,844,043	156,081,698	169,925,741
Multimanager 2030 Lifetime Portfolio	18,996,649	156,015,946	175,012,595
Multimanager 2025 Lifetime Portfolio	19,278,099	117,210,529	136,488,628
Multimanager 2020 Lifetime Portfolio	15,145,837	51,567,174	66,713,011
Multimanager 2015 Lifetime Portfolio	5,804,404	16,018,813	21,823,217
Multimanager 2010 Lifetime Portfolio	4,628,489	8,555,060	13,183,549

The tax character of distributions for the year ended August 31, 2022 was as follows:

Portfolio	Ordinary Income	Long Term Capital Gains	Total
Multimanager 2065 Lifetime Portfolio	$572,863	$91,199	$664,062
Multimanager 2060 Lifetime Portfolio	6,342,588	11,869,857	18,212,445
Multimanager 2055 Lifetime Portfolio	10,799,933	21,983,760	32,783,693
Multimanager 2050 Lifetime Portfolio	18,037,167	36,706,937	54,744,104
Multimanager 2045 Lifetime Portfolio	36,466,849	48,031,973	84,498,822
Multimanager 2040 Lifetime Portfolio	37,596,464	56,386,712	93,983,176
Multimanager 2035 Lifetime Portfolio	42,660,468	73,521,949	116,182,417
Multimanager 2030 Lifetime Portfolio	49,577,210	79,597,017	129,174,227
Multimanager 2025 Lifetime Portfolio	46,248,983	79,518,637	125,767,620
Multimanager 2020 Lifetime Portfolio	26,426,294	49,713,573	76,139,867
Multimanager 2015 Lifetime Portfolio	9,050,020	13,622,446	22,672,466
Multimanager 2010 Lifetime Portfolio	6,380,608	7,167,573	13,548,181

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. As of August 31, 2023, the components of distributable earnings on a tax basis were as follows:

Portfolio	Undistributed Ordinary Income	Undistributed Long Term Capital Gains
Multimanager 2065 Lifetime Portfolio	$148,109	$1,309,884
Multimanager 2060 Lifetime Portfolio	820,271	4,318,163
Multimanager 2055 Lifetime Portfolio	1,288,562	5,080,821
Multimanager 2050 Lifetime Portfolio	1,887,471	7,388,542
Multimanager 2045 Lifetime Portfolio	3,473,370	12,122,008
Multimanager 2040 Lifetime Portfolio	6,234,815	6,965,065
Multimanager 2035 Lifetime Portfolio	10,158,144	1,762,987
Multimanager 2030 Lifetime Portfolio	15,582,595	—
Multimanager 2025 Lifetime Portfolio	16,752,987	—
Multimanager 2020 Lifetime Portfolio	7,437,394	—
Multimanager 2015 Lifetime Portfolio	2,964,619	—
Multimanager 2010 Lifetime Portfolio	2,516,471	—

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

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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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.

Note 4—Fees and transactions with affiliates

John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the portfolios. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the portfolios. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.

Management fee. The portfolios have an investment management agreement with the Advisor under which the portfolios pay a daily management fee to the Advisor as detailed below. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, an indirect, wholly owned subsidiary of Manulife Financial Corporation and an affiliate of the Advisor. The portfolios are not responsible for payment of the subadvisory fees.

The management fee has two components: (1) a fee on assets invested in a fund of the Trust or John Hancock Funds III (JHF III) (Assets in a fund of the Trust or JHF III); and (2) a fee on assets invested in investments other than a fund of the Trust or JHF III (Other assets). Aggregate net assets include the net assets of the portfolios, similar portfolios of John Hancock Variable Insurance Trust (JHVIT), and similar portfolios of the Trust. JHVIT funds are advised by an affiliate of the Advisor, John Hancock Variable Trust Advisers LLC and are distributed by an affiliate of the Advisor, John Hancock Distributors, LLC.

Management fees are determined in accordance with the following schedule:

	First $7.5 billion of aggregate net assets	Excess over $7.5 billion of aggregate net assets
Assets in a fund of the Trust or JHF III	0.060%	0.050%
Other assets	0.510%	0.500%

Expense reimbursements. The Advisor has contractually agreed to reduce its management fees or if necessary make payment to each portfolio in an amount by which certain expenses, including underlying fund expenses (acquired fund fees), exceed the amount indicated below of the respective portfolio’s average net assets. This expense limitation agreement expires on December 31, 2023, 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.

Portfolio	Expense limitation as a percentage of average net assets
Multimanager 2065 Lifetime Portfolio	0.58%
Multimanager 2060 Lifetime Portfolio	0.58%
Multimanager 2055 Lifetime Portfolio	0.59%
Multimanager 2050 Lifetime Portfolio	0.60%
Multimanager 2045 Lifetime Portfolio	0.58%
Multimanager 2040 Lifetime Portfolio	0.58%

Portfolio	Expense limitation as a percentage of average net assets
Multimanager 2035 Lifetime Portfolio	0.59%
Multimanager 2030 Lifetime Portfolio	0.57%
Multimanager 2025 Lifetime Portfolio	0.56%
Multimanager 2020 Lifetime Portfolio	0.54%
Multimanager 2015 Lifetime Portfolio	0.52%
Multimanager 2010 Lifetime Portfolio	0.50%

Payments under this arrangement are intended to reimburse the portfolios for a portion of the indirect net expenses associated with the portfolios’ investments in underlying funds. Amounts received in excess of portfolio level operating expenses, if any, are included as Other income received from advisor in the Statements of operations.

Additionally, the Advisor has voluntarily agreed to waive its management fee for each portfolio so that the aggregate management fee retained by the Advisor with respect to both the portfolio and its underlying investments (after payment of subadvisory fees) does not exceed 0.51% of the portfolio’s first $7.5 billion of average net assets and 0.50% of the portfolio’s average net assets in excess of $7.5 billion. The Advisor may terminate this voluntary waiver at any time upon notice to the Trust.

For the year ended August 31, 2023, the expense reductions under 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 I	Class R2	Class R4	Class R5	Class R6	Class 1	Total
Multimanager 2065 Lifetime Portfolio	$1,897	$668	$384	$380	$824	$18,026	$269,508	$291,687
Multimanager 2060 Lifetime Portfolio	31,949	150	2,581	217	6,848	67,845	587,441	697,031
Multimanager 2055 Lifetime Portfolio	86,768	259	3,036	125	10,956	102,016	773,547	976,707
Multimanager 2050 Lifetime Portfolio	205,977	369	11,524	4,051	10,209	137,799	1,055,695	1,425,624
Multimanager 2045 Lifetime Portfolio	368,777	914	16,100	726	14,289	177,017	1,623,308	2,201,131
Multimanager 2040 Lifetime Portfolio	436,950	1,501	14,782	1,195	15,420	193,001	1,747,915	2,410,764

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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	Expense reimbursement by class
Portfolio	Class A	Class I	Class R2	Class R4	Class R5	Class R6	Class 1	Total
Multimanager 2035 Lifetime Portfolio	$525,838	$293	$25,012	$516	$25,587	$235,781	$2,109,708	$2,922,735
Multimanager 2030 Lifetime Portfolio	643,281	4,577	26,558	2,447	27,851	266,047	2,408,286	3,379,047
Multimanager 2025 Lifetime Portfolio	615,217	6,219	25,108	2,072	26,722	205,835	2,092,100	2,973,273
Multimanager 2020 Lifetime Portfolio	565,313	2,201	17,568	1,045	25,375	109,590	1,036,988	1,758,080
Multimanager 2015 Lifetime Portfolio	332,818	3,478	2,146	71	2,169	40,098	384,245	765,025
Multimanager 2010 Lifetime Portfolio	188,494	1,790	2,213	262	7,234	46,219	381,104	627,316

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

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended August 31, 2023, were equivalent to a net annual effective rate of the portfolios’ average daily net assets as follows:

Portfolio	Net Annual Effective Rate
Multimanager 2065 Lifetime Portfolio	0.00%
Multimanager 2060 Lifetime Portfolio	0.00%
Multimanager 2055 Lifetime Portfolio	0.00%
Multimanager 2050 Lifetime Portfolio	0.00%
Multimanager 2045 Lifetime Portfolio	0.00%
Multimanager 2040 Lifetime Portfolio	0.00%

Portfolio	Net Annual Effective Rate
Multimanager 2035 Lifetime Portfolio	0.00%
Multimanager 2030 Lifetime Portfolio	0.00%
Multimanager 2025 Lifetime Portfolio	0.00%
Multimanager 2020 Lifetime Portfolio	0.00%
Multimanager 2015 Lifetime Portfolio	0.00%
Multimanager 2010 Lifetime Portfolio	0.00%

Accounting and legal services. Pursuant to a service agreement, the portfolios reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, 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 year ended August 31, 2023, amounted to an annual rate of 0.02% of each portfolios’ 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 for certain classes as detailed below 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 certain classes as detailed below, 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 A	0.30%	—
Class R2	0.25%	0.25%
Class R4	0.25%	0.10%
Class R5	—	0.05%
Class 1	0.05%	—

The portfolios’ Distributor has contractually agreed to waive 0.10% of Rule12b-1 fees for Class R4 shares. The current waiver agreement expires on December 31, 2023, unless renewed by mutual agreement of the portfolios and the Distributor based upon a determination that this is appropriate under the circumstances at the time. This contractual waiver amounted to the following for Class R4 shares for the year ended August 31, 2023:

Portfolio	Class R4
Multimanager 2065 Lifetime Portfolio	$54
Multimanager 2060 Lifetime Portfolio	66
Multimanager 2055 Lifetime Portfolio	42
Multimanager 2050 Lifetime Portfolio	1,467
Multimanager 2045 Lifetime Portfolio	271
Multimanager 2040 Lifetime Portfolio	435

Portfolio	Class R4
Multimanager 2035 Lifetime Portfolio	$182
Multimanager 2030 Lifetime Portfolio	845
Multimanager 2025 Lifetime Portfolio	670
Multimanager 2020 Lifetime Portfolio	306
Multimanager 2015 Lifetime Portfolio	17
Multimanager 2010 Lifetime Portfolio	57

Sales charges. Class A shares are assessed up-front sales charges of up to 5.00% of net asset value for such shares. The following table summarizes the net up-front sales charges received by the Distributor during the year ended August 31, 2023:

	Multimanager 2065 Lifetime Portfolio	Multimanager 2060 Lifetime Portfolio	Multimanager 2055 Lifetime Portfolio	Multimanager 2050 Lifetime Portfolio	Multimanager 2045 Lifetime Portfolio	Multimanager 2040 Lifetime Portfolio	Multimanager 2035 Lifetime Portfolio	Multimanager 2030 Lifetime Portfolio	Multimanager 2025 Lifetime Portfolio	Multimanager 2020 Lifetime Portfolio	Multimanager 2015 Lifetime Portfolio	Multimanager 2010 Lifetime Portfolio
Total sales charges	$3,404	$7,142	$5,537	$10,761	$11,134	$20,879	$30,409	$18,142	$12,057	$2,684	$1,733	$559

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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	Multimanager 2065 Lifetime Portfolio	Multimanager 2060 Lifetime Portfolio	Multimanager 2055 Lifetime Portfolio	Multimanager 2050 Lifetime Portfolio	Multimanager 2045 Lifetime Portfolio	Multimanager 2040 Lifetime Portfolio	Multimanager 2035 Lifetime Portfolio	Multimanager 2030 Lifetime Portfolio	Multimanager 2025 Lifetime Portfolio	Multimanager 2020 Lifetime Portfolio	Multimanager 2015 Lifetime Portfolio	Multimanager 2010 Lifetime Portfolio
Retained for printing prospectus, advertising and sales literature	$530	$1,177	$939	$1,818	$1,798	$3,595	$5,325	$3,000	$2,100	$458	$289	$92
Sales commission to unrelated broker-dealers	2,874	5,965	4,598	8,943	9,336	17,284	25,084	15,142	9,957	2,226	1,444	467

Class A shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares purchased, including those that are acquired through purchases of $1 million or more, and redeemed within one year of purchase are subject to a 1.00% sales charge. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended August 31, 2023, CDSCs received by the Distributor for Class A shares were as follows:

Portfolio	Class A
Multimanager 2060 Lifetime Portfolio	$70
Multimanager 2045 Lifetime Portfolio	1
Multimanager 2035 Lifetime Portfolio	4
Multimanager 2025 Lifetime Portfolio	89
Multimanager 2015 Lifetime Portfolio	4

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

Class level expenses. Class level expenses for the year ended August 31, 2023 were as follows:

Portfolio	Class	Distribution and service fees	Transfer agent fees
Multimanager 2065 Lifetime Portfolio	Class A	$829	$320
	Class I	—	112
	Class R2	137	4
	Class R4	135	4
	Class R5	27	9
	Class R6	—	184
	Class 1	19,418	—
	Total	$20,546	$633
Multimanager 2060 Lifetime Portfolio	Class A	$29,035	$11,145
	Class I	—	53
	Class R2	3,879	58
	Class R4	185	5
	Class R5	1,002	149
	Class R6	—	1,505
	Class 1	88,856	—
	Total	$122,957	$12,915

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Portfolio	Class	Distribution and service fees	Transfer agent fees
Multimanager 2055 Lifetime Portfolio	Class A	$87,631	$33,636
	Class I	—	100
	Class R2	5,091	77
	Class R4	105	3
	Class R5	1,779	271
	Class R6	—	2,554
	Class 1	130,110	—
	Total	$224,716	$36,641
Multimanager 2050 Lifetime Portfolio	Class A	$224,176	$86,030
	Class I	—	153
	Class R2	20,756	316
	Class R4	5,133	110
	Class R5	1,804	269
	Class R6	—	3,727
	Class 1	191,358	—
	Total	$443,227	$90,605
Multimanager 2045 Lifetime Portfolio	Class A	$414,106	$158,930
	Class I	—	394
	Class R2	29,985	453
	Class R4	949	20
	Class R5	2,609	397
	Class R6	—	4,980
	Class 1	303,759	—
	Total	$751,408	$165,174
Multimanager 2040 Lifetime Portfolio	Class A	$478,096	$183,479
	Class I	—	632
	Class R2	26,715	407
	Class R4	1,509	32
	Class R5	2,717	416
	Class R6	—	5,301
	Class 1	318,715	—
	Total	$827,752	$190,267
Multimanager 2035 Lifetime Portfolio	Class A	$558,063	$214,164
	Class I	—	119
	Class R2	43,739	663
	Class R4	546	13
	Class R5	4,402	670
	Class R6	—	6,250
	Class 1	373,135	—
	Total	$979,885	$221,879
Multimanager 2030 Lifetime Portfolio	Class A	$667,403	$256,175
	Class I	—	1,826
	Class R2	45,525	690
	Class R4	2,954	63
	Class R5	4,702	714
	Class R6	—	6,896
	Class 1	416,691	—
	Total	$1,137,275	$266,364
Multimanager 2025 Lifetime Portfolio	Class A	$596,936	$229,027
	Class I	—	2,319
	Class R2	40,468	613
	Class R4	2,337	50
	Class R5	4,308	642
	Class R6	—	5,006
	Class 1	338,677	—

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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Portfolio	Class	Distribution and service fees	Transfer agent fees
	Total	$982,726	$237,657
Multimanager 2020 Lifetime Portfolio	Class A	$499,572	$191,659
	Class I	—	741
	Class R2	25,943	400
	Class R4	1,071	23
	Class R5	3,529	563
	Class R6	—	2,446
	Class 1	152,895	—
	Total	$683,010	$195,832
Multimanager 2015 Lifetime Portfolio	Class A	$240,321	$92,193
	Class I	—	968
	Class R2	2,581	40
	Class R4	42	1
	Class R5	261	40
	Class R6	—	727
	Class 1	46,287	—
	Total	$289,492	$93,969
Multimanager 2010 Lifetime Portfolio	Class A	$122,824	$47,136
	Class I	—	450
	Class R2	2,394	38
	Class R4	198	4
	Class R5	788	121
	Class R6	—	756
	Class 1	41,428	—
	Total	$167,632	$48,505

Trustee expenses. The portfolios compensate 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 their 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 years ended August 31, 2023 and 2022 were as follows:

Multimanager 2065 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	29,906	$330,863	26,178	$303,916
Distributions reinvested	602	6,079	336	4,457
Repurchased	(7,666)	(83,468)	(19,553)	(222,089)
Net increase	22,842	$253,474	6,961	$86,284
Class I shares
Sold	5,887	$63,500	—	—
Distributions reinvested	220	2,223	—	—
Repurchased	(230)	(2,461)	—	—
Net increase	5,877	$63,262	—	—
Class R2 shares
Sold	104	$1,140	—	—
Distributions reinvested	1	7	—	—
Repurchased	(3)	(38)	—	—
Net increase	102	$1,109	—	—

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Multimanager 2065 Lifetime Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class R5 shares
Sold	9,879	$107,308	2,016	$23,214
Distributions reinvested	169	1,704	3	40
Repurchased	(219)	(2,265)	—	—
Net increase	9,829	$106,747	2,019	$23,254
Class R6 shares
Sold	235,442	$2,549,507	157,105	$1,986,838
Distributions reinvested	8,283	83,657	2,766	36,683
Repurchased	(42,912)	(463,465)	(25,626)	(292,006)
Net increase	200,813	$2,169,699	134,245	$1,731,515
Class 1 shares
Sold	2,424,895	$26,240,567	1,946,546	$23,748,562
Distributions reinvested	148,224	1,495,583	45,990	609,369
Repurchased	(525,483)	(5,549,008)	(234,726)	(2,832,257)
Net increase	2,047,636	$22,187,142	1,757,810	$21,525,674
Total net increase	2,287,099	$24,781,433	1,901,035	$23,366,727

Multimanager 2060 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	117,707	$1,381,112	100,012	$1,449,850
Distributions reinvested	107,703	1,130,877	65,302	985,402
Repurchased	(149,507)	(1,728,858)	(129,039)	(1,854,545)
Net increase	75,903	$783,131	36,275	$580,707
Class I shares
Sold	29	$326	—	—
Repurchased	—	—	(144)	$(2,346)
Net increase (decrease)	29	$326	(144)	$(2,346)
Class R2 shares
Sold	20,795	$241,780	19,417	$268,722
Distributions reinvested	8,107	85,120	3,633	54,787
Repurchased	(9,369)	(112,223)	(4,803)	(73,590)
Net increase	19,533	$214,677	18,247	$249,919
Class R4 shares
Sold	2	$17	95	$1,530
Distributions reinvested	233	2,455	285	4,308
Repurchased	(698)	(8,241)	(3,812)	(59,130)
Net decrease	(463)	$(5,769)	(3,432)	$(53,292)
Class R5 shares
Sold	139,344	$1,570,472	76,303	$1,143,485
Distributions reinvested	16,490	173,313	6,613	99,860
Repurchased	(19,945)	(227,362)	(5,897)	(79,617)
Net increase	135,889	$1,516,423	77,019	$1,163,728
Class R6 shares
Sold	1,026,029	$12,016,240	880,119	$13,080,128
Distributions reinvested	207,597	2,183,924	95,350	1,441,686
Repurchased	(459,113)	(5,462,183)	(251,313)	(3,378,278)
Net increase	774,513	$8,737,981	724,156	$11,143,536

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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Multimanager 2060 Lifetime Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class 1 shares
Sold	3,323,801	$38,344,021	2,713,396	$38,126,791
Distributions reinvested	1,996,494	21,003,115	1,033,224	15,612,019
Repurchased	(1,540,414)	(17,222,272)	(1,728,075)	(25,557,783)
Net increase	3,779,881	$42,124,864	2,018,545	$28,181,027
Total net increase	4,785,285	$53,371,633	2,870,666	$41,263,279

Multimanager 2055 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	325,879	$3,292,777	230,060	$2,902,524
Distributions reinvested	383,502	3,532,055	241,171	3,214,803
Repurchased	(412,000)	(4,158,800)	(447,678)	(5,752,287)
Net increase	297,381	$2,666,032	23,553	$365,040
Class I shares
Sold	752	$7,399	8,112	$100,319
Distributions reinvested	629	5,804	692	9,234
Repurchased	(3,052)	(30,504)	(8,808)	(104,317)
Net increase (decrease)	(1,671)	$(17,301)	(4)	$5,236
Class R2 shares
Sold	31,358	$317,067	30,641	$378,697
Distributions reinvested	13,564	124,787	7,444	99,159
Repurchased	(31,264)	(317,571)	(23,953)	(279,780)
Net increase	13,658	$124,283	14,132	$198,076
Class R4 shares
Sold	128	$1,288	—	—
Distributions reinvested	2	21	—	—
Repurchased	(1)	(14)	—	—
Net increase	129	$1,295	—	—
Class R5 shares
Sold	148,214	$1,477,088	172,437	$2,356,207
Distributions reinvested	43,326	399,896	20,996	280,501
Repurchased	(28,842)	(289,603)	(14,041)	(179,527)
Net increase	162,698	$1,587,381	179,392	$2,457,181
Class R6 shares
Sold	1,516,188	$15,577,399	1,587,450	$20,794,493
Distributions reinvested	426,966	3,936,622	236,608	3,161,082
Repurchased	(1,125,685)	(11,738,080)	(653,351)	(7,795,112)
Net increase	817,469	$7,775,941	1,170,707	$16,160,463
Class 1 shares
Sold	3,992,043	$40,681,960	3,349,675	$41,130,174
Distributions reinvested	3,583,949	33,044,014	1,944,884	25,964,198
Repurchased	(2,917,136)	(28,582,979)	(2,653,484)	(35,042,053)
Net increase	4,658,856	$45,142,995	2,641,075	$32,052,319
Total net increase	5,948,520	$57,280,626	4,028,855	$51,238,315

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Multimanager 2050 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	400,969	$4,207,218	272,183	$3,685,402
Distributions reinvested	1,167,416	11,090,452	588,097	8,345,090
Repurchased	(830,600)	(8,655,019)	(831,233)	(11,336,582)
Net increase	737,785	$6,642,651	29,047	$693,910
Class I shares
Sold	2,416	$25,019	3,935	$46,881
Distributions reinvested	1,307	12,443	591	8,391
Repurchased	(1,291)	(13,310)	(4,985)	(65,398)
Net increase (decrease)	2,432	$24,152	(459)	$(10,126)
Class R2 shares
Sold	78,251	$825,943	56,684	$749,833
Distributions reinvested	65,173	619,139	30,444	431,691
Repurchased	(123,529)	(1,306,562)	(96,687)	(1,289,054)
Net increase (decrease)	19,895	$138,520	(9,559)	$(107,530)
Class R4 shares
Sold	28,025	$307,970	26,436	$382,927
Distributions reinvested	23,278	221,142	10,603	150,453
Repurchased	(17,345)	(184,100)	(16,634)	(211,749)
Net increase	33,958	$345,012	20,405	$321,631
Class R5 shares
Sold	203,204	$2,104,424	160,103	$2,290,543
Distributions reinvested	47,101	448,397	14,679	208,736
Repurchased	(31,733)	(341,619)	(13,827)	(172,954)
Net increase	218,572	$2,211,202	160,955	$2,326,325
Class R6 shares
Sold	1,787,318	$19,183,424	1,899,364	$26,391,767
Distributions reinvested	735,116	6,998,307	349,707	4,972,835
Repurchased	(1,235,467)	(13,526,425)	(1,013,482)	(12,486,188)
Net increase	1,286,967	$12,655,306	1,235,589	$18,878,414
Class 1 shares
Sold	4,302,140	$45,392,559	3,511,187	$46,696,309
Distributions reinvested	6,112,191	58,126,941	2,854,349	40,531,758
Repurchased	(4,255,225)	(43,688,101)	(4,044,462)	(55,807,009)
Net increase	6,159,106	$59,831,399	2,321,074	$31,421,058
Total net increase	8,458,715	$81,848,242	3,757,052	$53,523,682

Multimanager 2045 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	826,187	$7,540,278	533,853	$6,345,045
Distributions reinvested	3,099,303	25,135,349	1,115,304	14,153,204
Repurchased	(1,550,761)	(14,107,356)	(1,427,697)	(17,052,017)
Net increase	2,374,729	$18,568,271	221,460	$3,446,232

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Multimanager 2045 Lifetime Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class I shares
Sold	18,348	$163,503	36,025	$417,979
Distributions reinvested	6,167	50,449	1,735	22,177
Repurchased	(10,772)	(96,606)	(27,330)	(306,464)
Net increase	13,743	$117,346	10,430	$133,692
Class R2 shares
Sold	101,332	$937,128	110,431	$1,318,574
Distributions reinvested	136,264	1,111,913	43,787	558,282
Repurchased	(107,476)	(968,637)	(113,769)	(1,389,499)
Net increase	130,120	$1,080,404	40,449	$487,357
Class R4 shares
Sold	4,038	$37,172	2,907	$33,850
Distributions reinvested	6,018	48,987	1,780	22,664
Repurchased	(50)	(462)	(33)	(395)
Net increase	10,006	$85,697	4,654	$56,119
Class R5 shares
Sold	177,034	$1,567,772	271,970	$3,566,041
Distributions reinvested	108,255	888,773	37,564	481,575
Repurchased	(118,175)	(1,109,897)	(61,127)	(739,359)
Net increase	167,114	$1,346,648	248,407	$3,308,257
Class R6 shares
Sold	2,588,418	$24,165,984	2,483,549	$30,954,398
Distributions reinvested	1,439,675	11,776,539	486,159	6,213,113
Repurchased	(2,074,700)	(19,264,211)	(1,393,468)	(15,918,675)
Net increase	1,953,393	$16,678,312	1,576,240	$21,248,836
Class 1 shares
Sold	4,271,874	$39,281,783	4,174,020	$49,550,308
Distributions reinvested	14,047,223	115,046,760	4,892,833	62,579,329
Repurchased	(7,532,944)	(67,974,422)	(6,412,785)	(80,282,118)
Net increase	10,786,153	$86,354,121	2,654,068	$31,847,519
Total net increase	15,435,258	$124,230,799	4,755,708	$60,528,012

Multimanager 2040 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	804,609	$7,391,677	671,834	$8,166,693
Distributions reinvested	3,366,859	27,978,596	1,341,229	17,181,147
Repurchased	(1,800,291)	(16,462,651)	(1,797,047)	(21,939,286)
Net increase	2,371,177	$18,907,622	216,016	$3,408,554
Class I shares
Sold	14,682	$136,206	18,977	$238,324
Distributions reinvested	11,202	93,875	7,967	102,773
Repurchased	(27,546)	(256,863)	(73,258)	(931,388)
Net decrease	(1,662)	$(26,782)	(46,314)	$(590,291)

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Multimanager 2040 Lifetime Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class R2 shares
Sold	95,607	$882,514	111,050	$1,346,825
Distributions reinvested	112,139	935,236	44,756	575,114
Repurchased	(137,477)	(1,278,488)	(195,554)	(2,388,611)
Net increase (decrease)	70,269	$539,262	(39,748)	$(466,672)
Class R4 shares
Sold	9,002	$86,046	8,181	$103,421
Distributions reinvested	9,098	75,603	2,971	38,063
Repurchased	(1,060)	(9,894)	(2,444)	(27,135)
Net increase	17,040	$151,755	8,708	$114,349
Class R5 shares
Sold	190,255	$1,763,388	350,017	$4,464,819
Distributions reinvested	108,587	911,042	30,568	394,633
Repurchased	(78,049)	(751,669)	(86,410)	(956,762)
Net increase	220,793	$1,922,761	294,175	$3,902,690
Class R6 shares
Sold	2,810,567	$26,655,614	2,443,575	$30,782,991
Distributions reinvested	1,482,417	12,393,003	557,255	7,171,871
Repurchased	(2,164,653)	(20,141,054)	(1,821,181)	(21,269,089)
Net increase	2,128,331	$18,907,563	1,179,649	$16,685,773
Class 1 shares
Sold	5,051,615	$47,042,641	4,142,429	$49,952,601
Distributions reinvested	13,730,048	114,920,501	5,297,954	68,290,627
Repurchased	(8,675,291)	(79,444,984)	(7,291,179)	(91,489,353)
Net increase	10,106,372	$82,518,158	2,149,204	$26,753,875
Total net increase	14,912,320	$122,920,339	3,761,690	$49,808,278

Multimanager 2035 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	1,064,044	$9,666,415	768,758	$9,147,586
Distributions reinvested	3,616,088	29,724,240	1,706,552	21,092,977
Repurchased	(2,122,598)	(19,309,232)	(2,051,612)	(23,948,965)
Net increase	2,557,534	$20,081,423	423,698	$6,291,598
Class I shares
Sold	28,309	$261,403	47,679	$492,996
Distributions reinvested	1,756	14,504	648	8,047
Repurchased	(31,200)	(285,779)	(44,009)	(473,742)
Net increase (decrease)	(1,135)	$(9,872)	4,318	$27,301
Class R2 shares
Sold	186,043	$1,688,490	144,865	$1,718,773
Distributions reinvested	164,455	1,361,686	73,004	907,436
Repurchased	(144,188)	(1,308,975)	(209,502)	(2,517,704)
Net increase	206,310	$1,741,201	8,367	$108,505

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Multimanager 2035 Lifetime Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class R4 shares
Sold	2,259	$20,868	6,150	$74,434
Distributions reinvested	3,481	28,822	1,180	14,662
Repurchased	(39)	(352)	(23)	(263)
Net increase	5,701	$49,338	7,307	$88,833
Class R5 shares
Sold	294,247	$2,641,001	469,045	$5,736,499
Distributions reinvested	158,344	1,312,676	43,535	542,443
Repurchased	(112,062)	(1,040,938)	(63,126)	(745,388)
Net increase	340,529	$2,912,739	449,454	$5,533,554
Class R6 shares
Sold	2,625,041	$24,325,287	2,996,917	$36,017,209
Distributions reinvested	1,608,885	13,321,565	700,189	8,710,346
Repurchased	(1,748,784)	(16,167,766)	(2,314,446)	(25,722,152)
Net increase	2,485,142	$21,479,086	1,382,660	$19,005,403
Class 1 shares
Sold	5,705,039	$52,370,880	4,926,192	$57,515,786
Distributions reinvested	14,898,115	123,505,373	6,780,994	84,491,184
Repurchased	(10,856,794)	(98,538,599)	(9,495,232)	(117,560,237)
Net increase	9,746,360	$77,337,654	2,211,954	$24,446,733
Total net increase	15,340,441	$123,591,569	4,487,758	$55,501,927

Multimanager 2030 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	1,296,310	$11,474,607	972,461	$11,642,722
Distributions reinvested	3,863,858	31,606,357	2,016,060	23,910,474
Repurchased	(2,565,045)	(22,912,067)	(2,909,537)	(32,874,111)
Net increase	2,595,123	$20,168,897	78,984	$2,679,085
Class I shares
Sold	29,005	$278,700	110,045	$1,290,519
Distributions reinvested	28,959	235,726	11,122	131,348
Repurchased	(81,760)	(714,641)	(74,217)	(837,870)
Net increase (decrease)	(23,796)	$(200,215)	46,950	$583,997
Class R2 shares
Sold	133,460	$1,176,125	234,842	$2,592,622
Distributions reinvested	159,724	1,293,761	86,376	1,015,776
Repurchased	(139,952)	(1,255,975)	(372,693)	(3,983,882)
Net increase (decrease)	153,232	$1,213,911	(51,475)	$(375,484)
Class R4 shares
Sold	13,642	$125,120	10,295	$122,292
Distributions reinvested	15,183	123,134	6,779	79,854
Repurchased	(3,790)	(33,474)	(4,717)	(48,867)
Net increase	25,035	$214,780	12,357	$153,279

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

Multimanager 2030 Lifetime Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class R5 shares
Sold	329,919	$2,845,254	508,492	$5,926,250
Distributions reinvested	157,327	1,277,495	64,250	758,154
Repurchased	(161,551)	(1,403,657)	(216,534)	(2,406,035)
Net increase	325,695	$2,719,092	356,208	$4,278,369
Class R6 shares
Sold	3,301,739	$29,579,198	3,402,410	$39,873,894
Distributions reinvested	1,645,952	13,365,131	797,713	9,405,036
Repurchased	(2,551,825)	(22,644,317)	(2,494,369)	(26,979,653)
Net increase	2,395,866	$20,300,012	1,705,754	$22,299,277
Class 1 shares
Sold	4,852,520	$43,484,714	5,497,564	$62,308,250
Distributions reinvested	15,557,495	126,482,435	7,919,197	93,446,526
Repurchased	(14,311,606)	(126,054,202)	(11,049,572)	(125,697,108)
Net increase	6,098,409	$43,912,947	2,367,189	$30,057,668
Total net increase	11,569,564	$88,329,424	4,515,967	$59,676,191

Multimanager 2025 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	1,155,327	$9,796,313	1,058,491	$11,373,302
Distributions reinvested	3,374,611	26,794,414	2,157,658	24,036,311
Repurchased	(3,669,581)	(31,562,043)	(3,409,776)	(36,085,865)
Net increase (decrease)	860,357	$5,028,684	(193,627)	$(676,252)
Class I shares
Sold	44,083	$415,527	42,863	$448,278
Distributions reinvested	33,013	260,472	22,448	248,727
Repurchased	(84,232)	(704,153)	(90,287)	(893,196)
Net decrease	(7,136)	$(28,154)	(24,976)	$(196,191)
Class R2 shares
Sold	125,963	$1,076,622	150,575	$1,569,519
Distributions reinvested	137,977	1,085,877	102,883	1,136,862
Repurchased	(287,271)	(2,482,786)	(372,624)	(3,891,613)
Net decrease	(23,331)	$(320,287)	(119,166)	$(1,185,232)
Class R4 shares
Sold	4,604	$39,631	8,652	$98,675
Distributions reinvested	11,989	94,710	6,571	72,877
Repurchased	(6,198)	(51,230)	(1,380)	(14,967)
Net increase	10,395	$83,111	13,843	$156,585
Class R5 shares
Sold	433,975	$3,569,649	550,836	$6,041,337
Distributions reinvested	123,777	975,359	57,588	637,503
Repurchased	(245,498)	(2,081,235)	(219,057)	(2,206,699)
Net increase	312,254	$2,463,773	389,367	$4,472,141

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Multimanager 2025 Lifetime Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class R6 shares
Sold	2,397,679	$20,651,077	2,542,179	$27,987,669
Distributions reinvested	1,090,990	8,586,095	678,533	7,497,792
Repurchased	(2,037,295)	(17,385,379)	(2,322,936)	(23,792,958)
Net increase	1,451,374	$11,851,793	897,776	$11,692,503
Class 1 shares
Sold	2,156,484	$18,357,180	3,390,101	$37,560,166
Distributions reinvested	12,392,870	97,655,814	8,234,978	91,161,204
Repurchased	(17,643,520)	(150,502,509)	(15,237,874)	(165,203,408)
Net decrease	(3,094,166)	$(34,489,515)	(3,612,795)	$(36,482,038)
Total net decrease	(490,253)	$(15,410,595)	(2,649,578)	$(22,218,484)

Multimanager 2020 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	446,555	$3,502,534	490,795	$4,685,544
Distributions reinvested	2,818,334	20,630,205	2,327,639	22,950,524
Repurchased	(3,215,436)	(25,243,731)	(3,640,513)	(34,871,107)
Net increase (decrease)	49,453	$(1,110,992)	(822,079)	$(7,235,039)
Class I shares
Sold	180,836	$1,413,732	92,136	$990,440
Distributions reinvested	3,836	28,077	9,715	95,882
Repurchased	(107,059)	(830,063)	(102,340)	(964,997)
Net increase (decrease)	77,613	$611,746	(489)	$121,325
Class R2 shares
Sold	65,436	$510,098	64,642	$608,123
Distributions reinvested	90,402	657,220	63,598	623,899
Repurchased	(249,133)	(1,927,382)	(52,208)	(496,078)
Net increase (decrease)	(93,295)	$(760,064)	76,032	$735,944
Class R4 shares
Sold	10,014	$79,921	9,973	$100,277
Distributions reinvested	5,145	37,351	6,967	68,277
Repurchased	(2,098)	(16,917)	(41,150)	(395,244)
Net increase (decrease)	13,061	$100,355	(24,210)	$(226,690)
Class R5 shares
Sold	91,505	$703,765	443,403	$4,421,421
Distributions reinvested	128,929	939,893	103,745	1,020,849
Repurchased	(103,591)	(796,412)	(497,956)	(4,726,954)
Net increase	116,843	$847,246	49,192	$715,316
Class R6 shares
Sold	1,581,080	$12,482,891	1,591,019	$16,014,671
Distributions reinvested	560,358	4,073,800	422,289	4,142,655
Repurchased	(1,621,624)	(12,615,289)	(1,611,556)	(15,001,289)
Net increase	519,814	$3,941,402	401,752	$5,156,037

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

Multimanager 2020 Lifetime Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class 1 shares
Sold	1,327,591	$10,338,378	1,478,820	$14,335,516
Distributions reinvested	5,512,185	40,183,832	4,787,474	47,060,867
Repurchased	(9,354,912)	(72,697,681)	(10,654,550)	(101,917,411)
Net decrease	(2,515,136)	$(22,175,471)	(4,388,256)	$(40,521,028)
Total net decrease	(1,831,647)	$(18,545,778)	(4,708,058)	$(41,254,135)

Multimanager 2015 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	60,837	$436,624	99,838	$874,056
Distributions reinvested	1,358,234	9,263,154	1,003,898	8,994,929
Repurchased	(1,561,445)	(11,445,865)	(1,420,178)	(12,383,898)
Net decrease	(142,374)	$(1,746,087)	(316,442)	$(2,514,913)
Class I shares
Sold	—	—	98,399	$808,116
Distributions reinvested	12,966	$88,168	8,816	78,908
Repurchased	(94,205)	(715,750)	(17,437)	(148,378)
Net increase (decrease)	(81,239)	$(627,582)	89,778	$738,646
Class R2 shares
Sold	7,918	$56,966	9,202	$79,060
Distributions reinvested	9,405	63,668	8,596	76,591
Repurchased	(28,529)	(204,620)	(179,134)	(1,699,290)
Net decrease	(11,206)	$(83,986)	(161,336)	$(1,543,639)
Class R4 shares
Sold	1,355	$10,000	—	—
Net increase	1,355	$10,000	—	—
Class R5 shares
Sold	8,239	$58,502	43,429	$373,071
Distributions reinvested	9,057	61,495	2,694	24,087
Repurchased	(15,768)	(112,840)	(7,236)	(60,739)
Net increase	1,528	$7,157	38,887	$336,419
Class R6 shares
Sold	244,998	$1,788,251	298,345	$2,658,854
Distributions reinvested	170,613	1,160,167	127,963	1,145,265
Repurchased	(268,290)	(1,938,732)	(434,774)	(3,697,924)
Net increase (decrease)	147,321	$1,009,686	(8,466)	$106,195
Class 1 shares
Sold	556,385	$4,092,353	1,155,995	$10,445,160
Distributions reinvested	1,639,943	11,151,614	1,371,957	12,265,294
Repurchased	(3,051,229)	(22,296,484)	(4,051,740)	(35,059,164)
Net decrease	(854,901)	$(7,052,517)	(1,523,788)	$(12,348,710)
Total net decrease	(939,516)	$(8,483,329)	(1,881,367)	$(15,226,002)

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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Multimanager 2010 Lifetime Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	141,704	$1,046,915	183,498	$1,502,550
Distributions reinvested	542,371	3,780,357	435,947	3,818,899
Repurchased	(737,674)	(5,454,255)	(706,647)	(5,961,264)
Net decrease	(53,599)	$(626,983)	(87,202)	$(639,815)
Class I shares
Sold	8,027	$59,125	35,467	$297,750
Distributions reinvested	4,795	33,325	3,303	28,897
Repurchased	(41,033)	(300,537)	(20,676)	(166,470)
Net increase (decrease)	(28,211)	$(208,087)	18,094	$160,177
Class R2 shares
Sold	6,540	$47,920	8,838	$74,546
Distributions reinvested	7,454	51,882	4,914	42,996
Repurchased	(67,248)	(491,128)	(3,017)	(26,727)
Net increase (decrease)	(53,254)	$(391,326)	10,735	$90,815
Class R4 shares
Sold	545	$4,082	733	$6,646
Distributions reinvested	756	5,258	514	4,495
Repurchased	(63)	(458)	(1,353)	(12,556)
Net increase (decrease)	1,238	$8,882	(106)	$(1,415)
Class R5 shares
Sold	7,622	$55,912	162,142	$1,361,244
Distributions reinvested	22,252	154,650	6,290	55,038
Repurchased	(49,048)	(358,288)	(25,460)	(205,567)
Net increase (decrease)	(19,174)	$(147,726)	142,972	$1,210,715
Class R6 shares
Sold	331,171	$2,427,575	272,526	$2,371,376
Distributions reinvested	133,216	927,181	104,161	911,410
Repurchased	(354,035)	(2,603,022)	(230,148)	(1,893,640)
Net increase	110,352	$751,734	146,539	$1,389,146
Class 1 shares
Sold	1,979,153	$14,579,582	1,802,539	$15,451,935
Distributions reinvested	1,176,581	8,189,002	988,298	8,647,605
Repurchased	(3,794,967)	(27,848,462)	(3,595,380)	(30,829,306)
Net decrease	(639,233)	$(5,079,878)	(804,543)	$(6,729,766)
Total net decrease	(681,881)	$(5,693,384)	(573,511)	$(4,520,143)

Affiliates of the Trust owned shares of the following classes of the portfolios on August 31, 2023. Such concentration of shareholders’ capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

Portfolio	Class	% by Class
Multimanager 2065 Lifetime Portfolio	Class A	12%
Multimanager 2065 Lifetime Portfolio	Class I	46%
Multimanager 2065 Lifetime Portfolio	Class R2	98%
Multimanager 2065 Lifetime Portfolio	Class R4	100%
Multimanager 2065 Lifetime Portfolio	Class R5	31%
Multimanager 2065 Lifetime Portfolio	Class 1	100%
Multimanager 2060 Lifetime Portfolio	Class I	99%
Multimanager 2060 Lifetime Portfolio	Class R4	72%
Multimanager 2060 Lifetime Portfolio	Class 1	100%
Multimanager 2055 Lifetime Portfolio	Class I	53%

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

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Portfolio	Class	% by Class
Multimanager 2055 Lifetime Portfolio	Class R4	97%
Multimanager 2055 Lifetime Portfolio	Class 1	100%
Multimanager 2050 Lifetime Portfolio	Class I	26%
Multimanager 2050 Lifetime Portfolio	Class R6	1%
Multimanager 2050 Lifetime Portfolio	Class 1	100%
Multimanager 2045 Lifetime Portfolio	Class I	9%
Multimanager 2045 Lifetime Portfolio	Class R6	1%
Multimanager 2045 Lifetime Portfolio	Class 1	100%
Multimanager 2040 Lifetime Portfolio	Class R6	1%
Multimanager 2040 Lifetime Portfolio	Class 1	100%
Multimanager 2035 Lifetime Portfolio	Class 1	100%
Multimanager 2030 Lifetime Portfolio	Class 1	100%
Multimanager 2025 Lifetime Portfolio	Class 1	100%
Multimanager 2020 Lifetime Portfolio	Class 1	100%
Multimanager 2015 Lifetime Portfolio	Class R4	100%
Multimanager 2015 Lifetime Portfolio	Class 1	100%
Multimanager 2010 Lifetime Portfolio	Class R6	1%
Multimanager 2010 Lifetime Portfolio	Class 1	100%

Note 6—Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the year ended August 31, 2023:

	Purchases		Sales
Portfolio	U.S. Government	Other issuers	U.S. Government	Other issuers
Multimanager 2065 Lifetime Portfolio	$919,411	$31,885,192	$202,174	$7,418,343
Multimanager 2060 Lifetime Portfolio	3,380,298	67,037,173	1,464,810	29,131,977
Multimanager 2055 Lifetime Portfolio	4,810,843	82,150,455	2,427,318	50,791,012
Multimanager 2050 Lifetime Portfolio	7,448,631	110,194,404	4,032,450	81,597,140
Multimanager 2045 Lifetime Portfolio	15,025,848	142,518,370	8,382,871	135,671,206
Multimanager 2040 Lifetime Portfolio	19,653,086	161,167,736	17,400,608	153,080,358
Multimanager 2035 Lifetime Portfolio	27,939,072	186,979,925	31,057,776	178,223,910
Multimanager 2030 Lifetime Portfolio	35,453,686	221,263,063	49,473,367	236,292,358
Multimanager 2025 Lifetime Portfolio	28,588,574	161,324,897	49,860,709	244,313,634
Multimanager 2020 Lifetime Portfolio	15,354,575	85,369,295	25,940,699	135,270,304
Multimanager 2015 Lifetime Portfolio	5,569,778	25,540,118	8,608,360	44,279,765
Multimanager 2010 Lifetime Portfolio	4,243,594	29,861,845	5,762,533	40,970,340

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 affiliated underlying funds’ net assets. At August 31, 2023, the following portfolios held 5% or more of the net assets of the affiliated underlying funds shown below:

Portfolio	Affiliated Class NAV	Percentage of underlying fund net assets
Multimanager 2030 Lifetime Portfolio	JHF Diversified Real Assets Fund	6.2%
Multimanager 2025 Lifetime Portfolio	JHF Diversified Real Assets Fund	6.2%
	JHF 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, if any, is as follows:

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Multimanager 2065 Lifetime Portfolio
Absolute Return Currency	—	$384,709	—	$(391,823)	$(11,419)	$18,533	—	—	—
Blue Chip Growth	70,006	1,706,416	$1,226,135	(185,397)	(127,821)	580,632	—	$84,573	$3,199,965
Bond	28,914	152,071	420,746	(182,619)	(6,902)	(185)	$9,284	—	383,111

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

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							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Capital Appreciation	166,833	$1,058,307	$1,233,840	$(335,182)	$(342,882)	$606,463	—	$146,351	$2,220,546
Capital Appreciation Value	163,464	918,309	944,406	(363,015)	(158,470)	146,296	$17,165	126,397	1,487,526
Disciplined Value	115,799	1,380,707	1,273,536	(162,971)	(36,198)	151,557	24,462	93,537	2,606,631
Disciplined Value International	173,501	1,207,118	1,150,693	(111,126)	(7,411)	323,333	31,660	6,345	2,562,607
Emerging Markets Debt	44,683	152,596	376,273	(207,618)	(8,621)	12,214	14,303	—	324,844
Emerging Markets Equity	451,478	2,144,116	2,391,682	(504,278)	(350,592)	319,166	34,732	—	4,000,094
Equity Income	189,312	1,867,400	1,939,787	(154,361)	(34,834)	(89,211)	58,593	197,882	3,528,781
Financial Industries	36,251	408,564	386,315	(192,734)	(97,420)	11,847	6,193	48,120	516,572
Fundamental Large Cap Core	33,948	1,115,942	1,176,044	(235,415)	(101,896)	265,208	8,344	79,086	2,219,883
Health Sciences	139,881	439,383	499,206	(271,319)	(62,541)	70,894	—	15,315	675,623
High Yield	104,986	152,713	360,199	(204,575)	(8,476)	9,848	14,819	—	309,709
International Dynamic Growth	103,302	357,114	728,653	(106,180)	(62,453)	120,015	4,029	—	1,037,149
International Growth	47,423	670,113	764,678	(259,734)	(186,034)	158,604	—	100,031	1,147,627
International Small Company	98,935	520,519	537,146	(112,276)	(47,006)	102,837	10,601	12,747	1,001,220
International Strategic Equity Allocation	808,678	3,538,560	4,019,799	(472,115)	(40,680)	450,882	101,456	—	7,496,446
John Hancock Collateral Trust	11,223	32,702	531,980	(455,505)	1,318	1,695	4,130	—	112,190
Mid Cap Growth	196,544	1,428,751	1,683,426	(457,080)	(371,448)	460,106	—	121,259	2,743,755
Mid Value	209,896	1,679,591	2,225,478	(417,346)	(129,214)	87,984	11,908	357,102	3,446,493
Science & Technology	310,712	225,079	394,179	(150,513)	(99,538)	149,682	—	32,861	518,889
Short Duration Bond	77,211	—	1,103,800	(398,524)	1,388	2,902	22,346	—	709,566
Small Cap Growth	38,328	260,782	338,095	(64,216)	(54,034)	55,202	—	—	535,829
Small Cap Value	35,039	306,144	429,616	(74,425)	(30,801)	(8,233)	4,350	60,579	622,301
U.S. Sector Rotation	936,736	4,823,616	3,882,463	(660,956)	(81,677)	1,029,220	58,867	102,624	8,992,666
					$(2,455,662)	$5,037,491	$437,242	$1,584,809	$52,400,023
Multimanager 2060 Lifetime Portfolio
Absolute Return Currency	—	$2,521,057	—	$(2,566,767)	$(74,010)	$119,720	—	—	—

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Blue Chip Growth	281,406	$10,964,486	$1,965,468	$(1,802,317)	$(1,029,396)	$2,764,826	—	$518,418	$12,863,067
Bond	117,403	1,011,546	1,295,029	(710,949)	(63,050)	23,015	$44,428	—	1,555,591
Capital Appreciation	672,300	6,800,098	2,524,211	(1,440,019)	(1,282,362)	2,346,385	—	783,124	8,948,313
Capital Appreciation Value	691,714	5,886,256	1,892,411	(1,325,487)	(559,838)	401,253	92,415	680,513	6,294,595
Disciplined Value	503,310	8,901,769	2,665,137	(735,749)	(122,689)	621,039	131,902	504,353	11,329,507
Disciplined Value International	726,900	7,737,482	2,293,983	(964,713)	(94,473)	1,764,035	179,809	36,035	10,736,314
Emerging Markets Debt	181,328	1,010,055	1,086,210	(789,765)	(109,009)	120,767	68,626	—	1,318,258
Emerging Markets Equity	1,898,673	13,774,987	5,168,890	(2,076,084)	(1,466,134)	1,420,580	185,535	—	16,822,239
Equity Income	830,253	12,058,625	4,474,464	(358,054)	(62,299)	(636,821)	298,124	1,066,984	15,475,915
Financial Industries	152,030	2,649,454	1,065,147	(1,108,505)	(485,678)	46,010	33,333	258,995	2,166,428
Fundamental Large Cap Core	142,964	7,170,429	1,858,883	(330,747)	(131,641)	781,474	44,993	426,435	9,348,398
Health Sciences	586,044	2,823,234	869,899	(916,284)	(247,286)	301,031	—	82,579	2,830,594
High Yield	424,498	1,005,088	976,319	(729,491)	(71,581)	71,935	71,038	—	1,252,270
International Dynamic Growth	432,793	2,294,691	2,018,982	(264,090)	(186,572)	482,235	21,727	—	4,345,246
International Growth	198,682	4,295,344	1,613,687	(958,455)	(611,155)	468,682	—	538,097	4,808,103
International Small Company	415,348	3,336,464	905,651	(338,370)	(135,103)	434,683	57,069	68,618	4,203,325
International Strategic Equity Allocation	3,388,042	22,681,759	8,180,198	(1,594,474)	(179,561)	2,319,232	547,051	—	31,407,154
John Hancock Collateral Trust	53,472	309,606	2,171,941	(1,947,145)	90	45	21,324	—	534,537
Mid Cap Growth	828,800	9,225,622	3,370,230	(1,364,713)	(1,138,076)	1,476,990	—	653,830	11,570,053
Mid Value	883,917	10,831,155	5,010,955	(1,022,514)	(292,312)	(13,369)	64,208	1,925,496	14,513,915
Science & Technology	1,314,986	1,451,784	1,406,357	(861,745)	(958,950)	1,158,581	—	177,187	2,196,027
Short Duration Bond	311,586	—	4,438,373	(1,603,136)	9,429	18,814	103,720	—	2,863,480
Small Cap Growth	161,459	1,675,641	805,367	(208,853)	(205,845)	190,892	—	—	2,257,202
Small Cap Value	147,186	1,967,114	1,087,474	(224,998)	(81,500)	(134,071)	23,454	326,643	2,614,019
U.S. Sector Rotation	3,944,794	30,993,882	4,824,717	(2,048,888)	(273,908)	4,374,223	317,031	552,689	37,870,026
					$(9,852,909)	$20,922,186	$2,305,787	$8,599,996	$220,124,576

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Multimanager 2055 Lifetime Portfolio
Absolute Return Currency	—	$4,097,923	—	$(4,172,803)	$(151,311)	$226,191	—	—	—
Blue Chip Growth	420,137	17,926,787	$2,369,443	(3,606,691)	(1,900,864)	4,415,791	—	$838,043	$19,204,466
Bond	174,729	1,582,884	1,923,607	(1,127,029)	(130,104)	65,798	$68,453	—	2,315,156
Capital Appreciation	1,001,551	11,118,069	3,246,215	(2,565,111)	(2,112,260)	3,643,726	—	1,251,910	13,330,639
Capital Appreciation Value	1,038,804	9,631,927	2,357,668	(2,248,362)	(878,143)	590,027	146,612	1,079,599	9,453,117
Disciplined Value	763,748	14,605,492	2,785,372	(945,925)	(153,122)	900,157	209,256	800,130	17,191,974
Disciplined Value International	1,084,627	12,617,669	2,653,927	(1,869,520)	(171,883)	2,789,748	289,007	57,919	16,019,941
Emerging Markets Debt	269,510	1,583,066	1,518,280	(1,155,404)	(213,482)	226,879	105,772	—	1,959,339
Emerging Markets Equity	2,838,623	22,328,982	5,912,950	(2,925,944)	(2,059,325)	1,893,535	294,343	—	25,150,198
Equity Income	1,255,738	19,829,926	5,139,513	(416,233)	(60,830)	(1,085,420)	467,157	1,692,717	23,406,956
Financial Industries	227,533	4,378,656	1,368,113	(1,801,194)	(778,514)	75,279	52,881	410,883	3,242,340
Fundamental Large Cap Core	213,587	11,723,555	2,256,460	(957,486)	(340,668)	1,284,575	71,379	676,517	13,966,436
Health Sciences	875,536	4,615,949	1,033,019	(1,506,969)	(403,331)	490,173	—	131,007	4,228,841
High Yield	630,974	1,580,212	1,398,115	(1,111,356)	(130,699)	125,100	109,437	—	1,861,372
International Dynamic Growth	644,818	3,751,673	2,800,722	(536,215)	(332,946)	790,741	34,468	—	6,473,975
International Growth	295,907	6,989,575	2,044,090	(1,631,430)	(938,954)	697,673	—	853,664	7,160,954
International Small Company	620,801	5,441,784	1,070,087	(698,055)	(223,688)	692,374	90,537	108,860	6,282,502
International Strategic Equity Allocation	5,046,683	36,864,026	9,991,640	(3,424,844)	(371,858)	3,723,787	867,869	—	46,782,751
John Hancock Collateral Trust	72,745	454,442	3,055,245	(2,782,679)	130	63	30,925	—	727,201
Mid Cap Growth	1,234,070	15,250,191	4,016,545	(2,511,649)	(2,018,581)	2,491,115	—	1,037,269	17,227,621
Mid Value	1,318,919	17,707,429	6,314,517	(1,783,963)	(489,179)	(92,160)	101,863	3,054,703	21,656,644
Science & Technology	1,963,173	2,374,182	2,074,879	(1,461,057)	(1,590,904)	1,881,399	—	281,098	3,278,499
Short Duration Bond	465,423	—	6,766,057	(2,534,847)	14,949	31,079	159,073	—	4,277,238
Small Cap Growth	241,188	2,739,650	988,726	(318,971)	(307,457)	269,863	—	—	3,371,811
Small Cap Value	220,251	3,236,913	1,325,381	(301,335)	(108,594)	(240,702)	37,209	518,203	3,911,663

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
U.S. Sector Rotation	5,912,763	$50,755,603	$4,565,616	$(4,750,507)	$(650,019)	$6,841,833	$503,547	$877,855	$56,762,526
					$(16,501,637)	$32,728,624	$3,639,788	$13,670,377	$329,244,160
Multimanager 2050 Lifetime Portfolio
Absolute Return Currency	—	$6,499,182	—	$(6,617,873)	$(148,762)	$267,453	—	—	—
Blue Chip Growth	650,724	28,495,900	$3,055,106	(5,737,083)	(2,766,184)	6,696,834	—	$1,330,560	$29,744,573
Bond	265,299	2,495,098	2,888,875	(1,769,905)	(192,203)	93,353	$105,994	—	3,515,218
Capital Appreciation	1,546,145	17,780,240	4,191,758	(3,828,960)	(2,784,324)	5,220,470	—	1,957,757	20,579,184
Capital Appreciation Value	1,603,319	15,490,607	2,811,650	(3,242,564)	(1,198,854)	729,361	233,339	1,718,227	14,590,200
Disciplined Value	1,172,512	23,499,193	3,577,935	(1,841,256)	(206,048)	1,363,423	332,954	1,273,115	26,393,247
Disciplined Value International	1,672,863	20,035,057	3,575,938	(3,029,485)	(260,789)	4,387,472	451,887	90,561	24,708,193
Emerging Markets Debt	404,902	2,503,108	2,151,997	(1,736,908)	(338,972)	364,409	164,011	—	2,943,634
Emerging Markets Equity	4,376,154	35,654,853	7,675,274	(4,283,190)	(2,969,848)	2,695,637	468,491	—	38,772,726
Equity Income	1,914,206	31,905,052	7,263,696	(1,671,765)	(224,932)	(1,591,242)	737,224	2,693,350	35,680,809
Financial Industries	348,546	6,979,760	1,769,912	(2,699,097)	(1,091,914)	8,122	83,623	649,745	4,966,783
Fundamental Large Cap Core	331,432	18,854,999	2,556,981	(1,233,036)	(337,303)	1,830,679	112,749	1,068,615	21,672,320
Health Sciences	1,360,028	7,366,836	1,470,228	(2,420,299)	(581,591)	733,760	—	208,503	6,568,934
High Yield	947,950	2,503,108	2,221,020	(1,921,829)	(196,392)	190,545	169,664	—	2,796,452
International Dynamic Growth	995,550	5,953,171	4,297,495	(986,166)	(520,883)	1,251,704	54,853	—	9,995,321
International Growth	453,286	11,143,535	2,642,616	(2,422,657)	(1,301,477)	907,501	—	1,358,581	10,969,518
International Small Company	952,920	8,641,199	1,464,633	(1,206,713)	(329,367)	1,073,803	144,093	173,254	9,643,555
International Strategic Equity Allocation	7,730,827	58,665,333	14,070,548	(6,398,833)	(587,496)	5,915,214	1,381,249	—	71,664,766
John Hancock Collateral Trust	97,397	664,851	4,808,287	(4,499,747)	167	84	43,542	—	973,642
Mid Cap Growth	1,900,860	24,488,036	4,690,239	(3,323,412)	(2,857,332)	3,538,470	—	1,650,857	26,536,001
Mid Value	2,019,642	28,635,692	8,447,190	(3,046,075)	(738,968)	(135,311)	160,809	4,822,418	33,162,528
Science & Technology	3,024,224	3,789,145	3,165,060	(2,359,913)	(2,495,845)	2,952,007	—	447,379	5,050,454
Short Duration Bond	699,233	—	10,390,551	(4,036,764)	24,193	47,973	246,937	—	6,425,953

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Small Cap Growth	368,421	$4,368,924	$1,206,155	$(361,869)	$(340,973)	$278,287	—	—	$5,150,524
Small Cap Value	339,339	5,196,689	1,739,103	(363,501)	(134,132)	(411,505)	$58,743	$818,107	6,026,654
U.S. Sector Rotation	9,162,410	81,628,017	4,759,270	(8,179,435)	(1,042,595)	10,793,880	791,189	1,379,310	87,959,137
					$(23,622,824)	$49,202,383	$5,741,351	$21,640,339	$506,490,326
Multimanager 2045 Lifetime Portfolio
Absolute Return Currency	—	$10,543,559	—	$(10,734,366)	$62,147	$128,660	—	—	—
Blue Chip Growth	974,231	45,520,419	$2,849,134	(9,671,734)	(3,435,116)	9,269,401	—	$2,085,446	$44,532,104
Bond	1,329,581	10,110,557	10,664,777	(2,626,228)	(393,948)	(138,205)	$460,197	—	17,616,953
Capital Appreciation	2,302,631	28,362,359	4,855,639	(6,242,236)	(3,051,547)	6,723,799	—	2,994,426	30,648,014
Capital Appreciation Value	2,462,832	25,478,443	3,335,539	(5,650,168)	(1,381,994)	629,950	374,357	2,756,636	22,411,770
Disciplined Value	1,718,636	37,424,576	4,085,877	(4,497,444)	163,101	1,510,383	524,446	2,005,323	38,686,493
Disciplined Value International	2,588,588	32,343,210	4,741,619	(5,458,022)	90,624	6,516,009	724,772	145,249	38,233,440
Diversified Real Assets	718,376	5,339,331	3,943,685	(990,225)	(69,581)	2,198	127,771	178,748	8,225,408
Emerging Markets Debt	1,587,389	6,832,584	6,773,134	(2,065,782)	(586,342)	586,727	564,307	—	11,540,321
Emerging Markets Equity	6,111,848	54,700,829	7,282,034	(7,576,864)	(4,736,910)	4,481,880	718,397	—	54,150,969
Equity Income	2,853,693	50,807,225	8,851,339	(3,592,596)	100,861	(2,973,985)	1,148,694	4,271,283	53,192,844
Financial Industries	519,861	11,102,714	2,372,390	(4,416,569)	(647,830)	(1,002,688)	128,093	995,278	7,408,017
Fundamental Large Cap Core	488,960	29,722,080	2,992,140	(2,890,025)	(405,684)	2,554,586	170,859	1,619,383	31,973,097
Health Sciences	2,050,950	11,568,480	1,182,554	(3,065,866)	(281,381)	502,300	—	328,552	9,906,087
High Yield	2,292,326	5,582,721	2,591,314	(1,382,483)	(224,508)	195,319	382,946	—	6,762,363
International Dynamic Growth	1,524,988	9,587,153	6,033,991	(1,499,401)	(515,088)	1,704,225	88,659	—	15,310,880
International Growth	698,045	17,947,222	3,008,541	(3,429,265)	(765,744)	131,942	—	2,195,849	16,892,696
International Small Company	1,478,441	14,120,660	1,570,759	(1,942,581)	(18,930)	1,231,919	233,453	280,699	14,961,827
International Strategic Equity Allocation	11,690,854	93,183,409	16,818,280	(10,111,840)	(879,818)	9,364,189	2,198,047	—	108,374,220
John Hancock Collateral Trust	227,674	1,693,884	10,361,033	(9,779,547)	472	125	98,496	—	2,275,967
Mid Cap Growth	2,726,541	37,928,038	4,969,023	(5,784,910)	(3,699,012)	4,649,374	—	2,552,075	38,062,513
Mid Value	2,921,025	44,581,754	9,853,212	(5,228,280)	(103,157)	(1,140,305)	242,619	7,275,770	47,963,224

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Science & Technology	4,521,825	$5,949,637	$4,125,607	$(3,202,376)	$(3,290,395)	$3,968,975	—	$704,643	$7,551,448
Short Duration Bond	1,050,305	—	12,525,463	(2,978,604)	22,091	83,356	$381,882	—	9,652,306
Small Cap Growth	519,464	6,705,971	1,373,551	(713,716)	(265,213)	161,509	—	—	7,262,102
Small Cap Value	475,152	7,919,138	2,217,799	(871,137)	71,446	(898,555)	88,032	1,226,025	8,438,691
U.S. Sector Rotation	13,729,242	130,429,743	4,021,338	(17,404,225)	(2,133,416)	16,887,282	1,250,816	2,180,584	131,800,722
					$(26,374,872)	$65,130,370	$9,906,843	$33,795,969	$783,834,476
Multimanager 2040 Lifetime Portfolio
Absolute Return Currency	—	$13,241,255	—	$(13,483,199)	$(49,552)	$291,496	—	—	—
Blue Chip Growth	910,231	43,811,989	$2,633,085	(10,239,011)	(3,293,126)	8,693,719	—	$1,994,766	$41,606,656
Bond	2,582,326	22,574,931	16,411,006	(3,554,087)	(754,374)	(461,657)	$1,057,768	—	34,215,819
Capital Appreciation	2,155,612	26,760,572	4,897,962	(6,412,252)	(3,059,979)	6,504,896	—	2,843,223	28,691,199
Capital Appreciation Value	2,356,469	21,890,310	2,751,841	(2,817,848)	(580,091)	199,660	320,343	2,358,895	21,443,872
Core Bond	2,028,773	13,803,729	11,047,906	(2,170,974)	(393,977)	(254,205)	475,814	—	22,032,479
Disciplined Value	1,599,723	35,713,744	4,113,677	(5,389,486)	259,146	1,312,677	493,766	1,888,012	36,009,758
Disciplined Value International	2,572,820	31,871,236	4,129,806	(4,504,811)	139,263	6,365,054	704,764	141,239	38,000,548
Diversified Real Assets	1,980,053	18,943,186	5,640,864	(1,739,942)	(54,283)	(118,213)	449,348	628,625	22,671,612
Emerging Markets Debt	2,567,284	13,461,315	7,630,303	(2,472,640)	(726,562)	771,736	986,787	—	18,664,152
Emerging Markets Equity	5,340,439	48,531,416	6,630,406	(7,626,231)	(3,919,791)	3,700,486	646,482	—	47,316,286
Equity Income	2,660,910	48,319,057	7,792,846	(3,739,984)	137,651	(2,910,206)	1,087,567	4,061,890	49,599,364
Financial Industries	535,683	11,630,293	2,541,904	(4,773,129)	(680,549)	(1,085,030)	135,278	1,051,104	7,633,489
Fundamental Global Franchise	274,593	4,261,069	500,650	(1,841,874)	(560,688)	749,233	16,510	336,618	3,108,390
Fundamental Large Cap Core	378,337	23,666,839	2,437,964	(3,065,791)	363,082	1,337,389	135,497	1,284,220	24,739,483
Global Equity	264,994	4,243,368	349,554	(1,653,569)	(79,162)	226,988	40,981	254,562	3,087,179
Health Sciences	2,166,428	12,190,380	950,043	(2,905,721)	(264,401)	493,548	—	347,378	10,463,849
High Yield	4,544,200	12,072,716	3,631,224	(2,251,055)	(382,955)	335,460	810,600	—	13,405,390
International Dynamic Growth	1,544,336	9,435,023	6,209,079	(1,327,725)	(489,633)	1,678,387	87,795	—	15,505,131
International Growth	686,035	17,654,844	2,973,521	(3,443,579)	(440,474)	(142,266)	—	2,174,410	16,602,046
International Small Company	1,568,008	15,045,459	1,762,135	(2,246,038)	9,566	1,297,115	251,717	302,660	15,868,237

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
International Strategic Equity Allocation	11,554,427	$94,050,472	$15,773,641	$(11,292,036)	$(972,245)	$9,549,705	$2,224,260	—	$107,109,537
John Hancock Collateral Trust	210,831	1,613,217	13,689,142	(13,195,359)	363	225	94,607	—	2,107,588
Mid Cap Growth	2,433,049	34,311,764	5,127,835	(6,380,019)	(4,008,776)	4,914,563	—	$2,328,001	33,965,367
Mid Value	2,625,090	40,324,761	9,382,256	(5,494,371)	206,446	(1,315,115)	218,538	6,553,630	43,103,977
Science & Technology	4,653,001	6,227,732	4,381,648	(3,573,019)	(3,550,914)	4,285,065	—	742,619	7,770,512
Short Duration Bond	1,213,515	—	15,156,305	(4,132,913)	28,017	100,791	459,442	—	11,152,200
Small Cap Growth	427,632	5,589,376	1,227,867	(754,032)	(225,419)	140,508	—	—	5,978,300
Small Cap Value	397,431	6,653,687	1,897,446	(800,469)	73,084	(765,380)	73,401	1,022,257	7,058,368
Strategic Income Opportunities	468,282	4,356,413	1,214,635	(962,868)	(70,995)	9,832	171,995	—	4,547,017
U.S. Sector Rotation	13,687,649	132,135,358	3,821,167	(19,392,049)	(2,272,711)	17,109,667	1,263,022	2,201,865	131,401,432
					$(25,614,039)	$63,016,128	$12,206,282	$32,515,974	$824,859,237
Multimanager 2035 Lifetime Portfolio
Absolute Return Currency	—	$17,163,272	—	$(17,455,831)	$(96,327)	$388,886	—	—	—
Blue Chip Growth	909,130	44,340,820	$3,209,330	(11,310,812)	(2,605,389)	7,922,399	—	$2,037,275	$41,556,348
Bond	5,170,521	49,086,592	26,314,201	(4,368,370)	(946,744)	(1,576,273)	$2,205,004	—	68,509,406
Capital Appreciation	2,161,869	26,764,960	4,787,587	(6,327,489)	(2,857,934)	6,407,350	—	2,824,527	28,774,474
Capital Appreciation Value	3,765,342	34,228,455	4,270,118	(3,699,445)	(871,188)	336,676	499,395	3,677,373	34,264,616
Core Bond	4,835,371	36,479,687	21,368,248	(3,682,934)	(701,468)	(951,401)	1,220,099	—	52,512,132
Disciplined Value	1,564,119	36,445,360	3,755,439	(6,501,003)	279,369	1,229,149	501,166	1,916,308	35,208,314
Disciplined Value International	2,831,133	34,152,458	4,551,655	(3,989,700)	116,610	6,984,805	753,538	151,014	41,815,828
Diversified Real Assets	3,697,236	38,324,197	7,478,332	(3,124,943)	(51,978)	(292,255)	906,596	1,268,303	42,333,353
Emerging Markets Debt	4,252,217	24,895,812	8,533,173	(2,629,743)	(768,296)	882,670	1,687,297	—	30,913,616
Emerging Markets Equity	5,173,010	48,421,003	6,109,603	(8,503,725)	(4,054,790)	3,860,780	637,503	—	45,832,871
Equity Income	2,600,413	49,557,293	7,589,051	(5,849,820)	263,237	(3,088,063)	1,099,792	4,126,856	48,471,698
Financial Industries	589,790	11,554,181	2,387,917	(3,881,444)	(664,894)	(991,248)	129,966	1,009,831	8,404,512
Fundamental Global Franchise	451,849	6,348,126	693,670	(2,273,050)	(715,948)	1,062,129	24,336	496,187	5,114,927

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Fundamental Large Cap Core	325,528	$20,817,625	$2,164,476	$(3,157,773)	$442,511	$1,019,429	$122,012	$1,156,416	$21,286,268
Global Equity	554,603	7,622,023	637,510	(2,166,305)	(395,658)	763,558	73,045	453,730	6,461,128
Health Sciences	2,114,257	12,211,843	833,462	(3,059,200)	(85,438)	311,196	—	343,084	10,211,863
High Yield	8,247,465	23,190,077	4,039,090	(2,827,576)	(493,334)	421,766	1,501,325	—	24,330,023
International Dynamic Growth	1,698,288	10,110,316	6,877,294	(1,272,858)	(422,334)	1,758,398	92,976	—	17,050,816
International Growth	761,211	18,919,020	3,032,388	(2,985,240)	(418,804)	(126,059)	—	2,313,926	18,421,305
International Small Company	1,673,255	16,407,047	1,490,526	(2,363,580)	84,355	1,314,993	272,157	327,237	16,933,341
International Strategic Equity Allocation	11,985,158	99,308,669	14,913,805	(12,152,099)	(1,070,359)	10,102,395	2,338,005	—	111,102,411
John Hancock Collateral Trust	200,113	1,645,153	18,211,193	(17,856,517)	389	228	96,605	—	2,000,446
Mid Cap Growth	2,328,941	33,233,622	6,050,043	(7,712,038)	(3,784,476)	4,724,864	—	2,265,649	32,512,015
Mid Value	2,520,085	39,703,216	8,621,998	(5,796,854)	408,380	(1,556,946)	213,323	6,397,223	41,379,794
Science & Technology	5,069,863	6,218,908	4,406,456	(3,220,429)	(2,804,843)	3,866,579	—	732,390	8,466,671
Short Duration Bond	1,546,209	—	18,047,063	(3,999,228)	31,124	130,699	583,265	—	14,209,658
Small Cap Growth	371,022	4,963,956	1,024,387	(721,995)	(124,875)	45,421	—	—	5,186,894
Small Cap Value	342,826	5,895,236	1,554,680	(744,626)	79,955	(696,651)	64,561	899,146	6,088,594
Strategic Income Opportunities	1,256,001	13,075,531	1,795,702	(2,512,779)	(137,131)	(25,557)	499,346	—	12,195,766
U.S. Sector Rotation	13,463,670	134,385,557	3,851,529	(23,868,845)	(2,589,091)	17,472,084	1,286,856	2,243,416	129,251,234
					$(24,955,369)	$61,702,001	$16,808,168	$34,639,891	$960,800,322
Multimanager 2030 Lifetime Portfolio
Absolute Return Currency	—	$20,736,012	—	$(21,097,222)	$(147,649)	$508,859	—	—	—
Blue Chip Growth	723,238	38,064,867	$3,249,623	(12,292,620)	(2,092,635)	6,129,966	—	$1,746,288	$33,059,201
Bond	6,292,946	61,583,647	29,838,606	(4,812,565)	(967,093)	(2,261,066)	$2,811,193	—	83,381,529
Capital Appreciation	1,710,558	21,441,860	4,361,643	(5,932,735)	(2,246,557)	5,143,313	—	2,297,786	22,767,524
Capital Appreciation Value	4,577,745	46,162,793	5,703,015	(9,313,259)	(1,813,628)	918,561	678,158	4,993,722	41,657,482
Core Bond	7,856,378	56,040,923	35,159,993	(3,127,906)	(535,350)	(2,217,396)	1,994,115	—	85,320,264
Disciplined Value	1,268,741	30,598,593	3,001,885	(6,278,778)	335,752	901,915	418,682	1,600,913	28,559,367
Disciplined Value International	2,747,006	31,772,391	7,570,346	(5,635,404)	150,269	6,715,677	698,606	140,005	40,573,279

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Diversified Real Assets	5,644,596	$62,457,015	$9,453,886	$(6,698,137)	$(6,678)	$(575,462)	$1,451,886	$2,031,149	$64,630,624
Emerging Markets Debt	5,589,347	38,387,430	6,552,360	(4,505,367)	(1,377,105)	1,577,231	2,360,204	—	40,634,549
Emerging Markets Equity	4,160,862	41,809,529	3,896,316	(8,819,007)	(3,926,990)	3,905,388	546,305	—	36,865,236
Equity Income	2,112,320	41,249,585	6,042,668	(5,566,970)	266,233	(2,617,878)	910,347	3,460,139	39,373,638
Financial Industries	565,538	12,520,576	2,588,814	(5,202,863)	(915,608)	(931,996)	145,030	1,126,878	8,058,923
Floating Rate Income	1,061,098	13,137,299	2,201,056	(6,985,784)	(685,988)	472,037	820,001	—	8,138,620
Fundamental Global Franchise	1,078,067	14,541,074	1,633,960	(5,097,590)	(1,151,515)	2,277,785	55,812	1,137,949	12,203,714
Fundamental Large Cap Core	181,724	12,060,573	1,255,598	(2,234,828)	342,614	458,945	70,489	668,088	11,882,902
Global Equity	1,441,898	19,631,351	1,363,045	(5,350,934)	(843,927)	1,998,573	186,315	1,157,329	16,798,108
Health Sciences	2,334,659	13,239,285	980,266	(3,208,802)	37,379	228,277	—	374,442	11,276,405
High Yield	11,200,154	33,487,713	3,386,898	(3,723,279)	(639,082)	528,206	2,120,576	—	33,040,456
International Dynamic Growth	1,657,255	9,407,882	7,337,876	(1,400,097)	(455,681)	1,748,860	86,151	—	16,638,840
International Growth	725,393	17,479,725	2,901,671	(2,449,959)	(217,082)	(159,843)	—	2,149,127	17,554,512
International Small Company	1,735,442	17,541,043	1,743,604	(3,229,687)	128,125	1,379,585	291,940	351,023	17,562,670
International Strategic Equity Allocation	11,518,450	100,242,631	14,199,735	(16,754,112)	(1,424,971)	10,512,746	2,337,391	—	106,776,029
John Hancock Collateral Trust	258,531	2,075,768	17,587,393	(17,079,485)	506	251	124,065	—	2,584,433
Mid Cap Growth	2,040,172	30,620,487	5,657,519	(8,630,457)	(3,826,345)	4,659,592	—	2,083,226	28,480,796
Mid Value	2,207,634	36,437,094	8,252,490	(7,383,751)	697,740	(1,754,223)	195,476	5,862,030	36,249,350
Science & Technology	4,907,732	6,789,548	3,705,054	(3,527,489)	(2,900,104)	4,128,904	—	789,399	8,195,913
Short Duration Bond	4,211,228	15,186,236	28,830,700	(5,287,159)	(473,735)	445,146	1,543,605	—	38,701,188
Small Cap Growth	—	3,913,880	323,930	(3,903,602)	317,195	(651,403)	—	—	—
Small Cap Value	322,048	4,625,816	2,295,522	(740,275)	38,918	(500,405)	51,139	712,211	5,719,576
Strategic Income Opportunities	3,859,195	41,563,568	3,023,111	(6,608,047)	(580,414)	74,565	1,578,321	—	37,472,783
U.S. Sector Rotation	12,105,580	126,927,744	5,270,211	(29,495,131)	(3,461,549)	16,972,290	1,230,015	2,144,326	116,213,565
					$(28,374,955)	$60,017,000	$22,705,822	$34,826,030	$1,050,371,476

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Multimanager 2025 Lifetime Portfolio
Absolute Return Currency	—	$18,532,929	—	$(18,859,135)	$(140,539)	$466,745	—	—	—
Blue Chip Growth	335,869	20,018,970	$1,959,725	(8,207,333)	1,462,695	118,502	—	$895,216	$15,352,559
Bond	7,029,053	80,109,370	25,116,548	(8,144,842)	(1,709,340)	(2,236,782)	$3,415,244	—	93,134,954
Capital Appreciation	802,617	10,407,659	2,053,700	(3,092,225)	(992,281)	2,305,981	—	1,071,460	10,682,834
Capital Appreciation Value	4,604,495	48,970,680	5,906,745	(11,909,759)	(2,080,104)	1,013,344	706,240	5,200,505	41,900,906
Core Bond	8,191,778	69,419,410	27,255,966	(4,486,912)	(838,117)	(2,387,638)	2,322,941	—	88,962,709
Disciplined Value	539,919	15,790,325	1,406,369	(5,579,984)	447,685	89,193	210,485	804,830	12,153,588
Disciplined Value International	1,760,746	23,043,299	4,411,237	(6,105,281)	182,470	4,474,494	487,680	97,734	26,006,219
Diversified Real Assets	5,676,079	69,351,895	7,149,589	(10,884,265)	233,325	(859,444)	1,599,777	2,238,045	64,991,100
Emerging Markets Debt	5,376,403	40,392,257	4,737,870	(6,213,500)	(1,800,329)	1,970,151	2,390,619	—	39,086,449
Emerging Markets Equity	1,950,435	22,736,387	1,622,056	(7,101,467)	(1,530,236)	1,554,111	286,768	—	17,280,851
Equity Income	897,761	21,315,801	2,892,667	(6,320,716)	891,820	(2,045,304)	445,595	1,715,010	16,734,268
Financial Industries	383,812	9,453,621	1,865,318	(4,504,026)	(668,422)	(677,176)	103,986	807,964	5,469,315
Floating Rate Income	1,561,779	19,501,485	2,170,040	(9,368,874)	(818,504)	494,700	1,357,306	—	11,978,847
Fundamental Global Franchise	1,260,452	17,259,369	2,049,335	(6,434,855)	(931,510)	2,325,980	63,900	1,302,853	14,268,319
Fundamental Large Cap Core	112,749	8,563,157	863,087	(2,491,240)	(111,613)	549,235	49,335	467,587	7,372,626
Global Equity	1,306,229	18,821,449	1,280,866	(5,939,506)	(585,796)	1,640,559	171,248	1,063,741	15,217,572
Health Sciences	1,677,289	10,109,068	476,777	(2,678,578)	199,484	(5,445)	—	273,481	8,101,306
High Yield	11,106,319	36,618,514	2,585,273	(6,288,190)	(1,070,080)	918,124	2,199,786	—	32,763,641
International Dynamic Growth	1,143,943	6,816,437	5,804,544	(2,035,334)	(682,053)	1,581,596	59,453	—	11,485,190
International Growth	453,814	12,683,989	1,773,369	(3,179,805)	2,688	(297,931)	—	1,488,313	10,982,310
International Small Company	1,138,604	12,610,580	926,453	(3,044,648)	330,023	700,263	201,934	242,802	11,522,671
International Strategic Equity Allocation	7,409,916	72,607,399	7,347,838	(17,593,921)	(1,428,177)	7,756,781	1,610,900	—	68,689,920
John Hancock Collateral Trust	254,431	2,106,056	14,187,728	(13,751,053)	507	203	122,831	—	2,543,441
Mid Cap Growth	1,181,607	19,729,844	3,104,454	(6,774,944)	(2,394,438)	2,830,320	—	1,295,069	16,495,236
Mid Value	1,270,708	23,709,823	5,247,095	(7,340,398)	802,182	(1,553,675)	123,437	3,701,681	20,865,027

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Science & Technology	3,314,374	$5,055,332	$1,962,178	$(2,528,358)	$(1,756,965)	$2,802,817	—	$571,293	$5,535,004
Short Duration Bond	5,289,971	30,409,967	24,635,764	(6,092,952)	(554,621)	216,679	$2,019,435	—	48,614,837
Small Cap Growth	—	4,123,925	141,351	(3,928,062)	75,838	(413,052)	—	—	—
Small Cap Value	251,170	4,903,133	1,255,008	(1,186,989)	113,107	(623,487)	52,920	737,019	4,460,772
Strategic Income Opportunities	4,641,027	54,027,863	2,481,791	(10,773,937)	(861,485)	190,145	1,959,608	—	45,064,377
U.S. Sector Rotation	6,323,475	79,560,016	2,879,133	(28,864,603)	(3,525,580)	10,656,390	745,399	1,299,476	60,705,356
					$(19,738,366)	$33,556,379	$22,706,827	$25,274,079	$828,422,204
Multimanager 2020 Lifetime Portfolio
Absolute Return Currency	—	$10,382,613	—	$(10,562,653)	$(24,979)	$205,019	—	—	—
Blue Chip Growth	71,782	4,380,820	$649,383	(2,014,868)	693,310	(427,474)	—	$199,185	$3,281,171
Bond	4,451,862	58,797,554	10,027,066	(7,141,621)	(1,248,707)	(1,447,123)	$2,368,377	—	58,987,169
Capital Appreciation	171,752	1,698,236	955,303	(706,726)	(112,189)	451,394	—	182,120	2,286,018
Capital Appreciation Value	2,314,538	25,101,636	3,159,041	(6,603,130)	(1,112,651)	517,401	368,427	2,712,967	21,062,297
Core Bond	5,484,907	55,478,502	11,740,080	(5,255,191)	(879,750)	(1,517,552)	1,793,345	—	59,566,089
Disciplined Value	117,997	3,153,609	315,054	(928,058)	24,692	90,815	42,894	164,014	2,656,112
Disciplined Value International	792,108	9,036,510	3,681,701	(3,011,431)	98,265	1,894,390	191,964	38,471	11,699,435
Diversified Real Assets	3,192,588	40,840,168	4,645,994	(8,494,767)	431,537	(867,802)	958,972	1,341,576	36,555,130
Emerging Markets Debt	3,148,455	25,022,772	2,608,477	(4,885,046)	(1,371,050)	1,514,112	1,451,630	—	22,889,265
Emerging Markets Equity	660,229	9,161,157	745,454	(4,070,983)	(977,091)	991,096	115,191	—	5,849,633
Equity Income	196,317	4,256,878	653,957	(1,018,684)	148,155	(380,950)	90,112	350,402	3,659,356
Financial Industries	205,219	4,698,368	795,435	(1,904,208)	(261,435)	(403,789)	53,052	412,211	2,924,371
Floating Rate Income	1,206,706	14,997,000	1,748,998	(7,242,819)	(484,277)	236,534	1,097,989	—	9,255,436
Fundamental Global Franchise	653,161	9,117,834	1,266,899	(3,727,287)	(221,026)	957,366	34,280	698,940	7,393,786
Fundamental Large Cap Core	67,180	4,732,416	849,516	(1,451,841)	(78,659)	341,461	28,124	266,557	4,392,893
Global Equity	662,648	9,785,166	759,277	(3,369,888)	(127,510)	672,808	90,317	561,023	7,719,853
Global Shareholder Yield	380,582	4,688,578	494,260	(1,226,816)	132,927	(54,779)	133,226	257,002	4,034,170
Health Sciences	829,583	5,057,813	358,815	(1,515,631)	152,427	(46,538)	—	138,667	4,006,886
High Yield	6,587,873	23,078,716	1,592,361	(5,133,789)	(844,750)	741,689	1,354,395	—	19,434,227

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
International Dynamic Growth	551,475	$2,686,340	$3,481,832	$(1,032,310)	$(90,989)	$491,937	$23,326	—	$5,536,810
International Growth	203,377	5,015,177	1,140,060	(1,144,882)	(417,303)	328,665	—	$583,896	4,921,717
International Small Company	481,616	5,446,989	608,958	(1,631,965)	306,624	143,346	87,254	104,913	4,873,952
International Strategic Equity Allocation	3,303,562	31,903,400	4,062,843	(8,148,882)	(677,228)	3,483,884	709,315	—	30,624,017
John Hancock Collateral Trust	143,146	1,274,921	7,418,969	(7,263,316)	281	116	71,647	—	1,430,971
Mid Cap Growth	442,217	7,509,893	1,298,998	(2,783,189)	(62,301)	209,947	—	502,486	6,173,348
Mid Value	478,490	9,011,116	2,316,013	(3,163,389)	423,937	(730,866)	47,953	1,438,047	7,856,811
Science & Technology	1,751,121	2,557,429	1,198,245	(1,425,077)	(791,465)	1,385,239	—	290,664	2,924,371
Short Duration Bond	3,835,474	25,828,166	15,574,502	(5,848,724)	(518,814)	212,879	1,522,046	—	35,248,009
Small Cap Growth	—	1,546,844	125,878	(1,542,240)	(238,490)	108,008	—	—	—
Small Cap Value	133,348	1,834,964	1,396,164	(685,657)	15,877	(193,095)	20,303	282,757	2,368,253
Strategic Income Opportunities	2,555,190	30,549,443	1,226,863	(6,593,154)	(400,782)	28,523	1,104,698	—	24,810,893
U.S. Sector Rotation	2,804,116	33,895,682	3,294,223	(13,360,062)	(1,644,344)	4,734,011	325,103	566,763	26,919,510
					$(10,157,758)	$13,670,672	$14,083,940	$11,092,661	$441,341,959
Multimanager 2015 Lifetime Portfolio
Absolute Return Currency	—	$3,560,578	—	$(3,622,487)	$41,592	$20,317	—	—	—
Blue Chip Growth	27,949	1,575,366	$176,216	(611,828)	245,857	(108,067)	—	$68,615	$1,277,544
Bond	1,815,512	24,734,011	3,277,442	(2,833,976)	(508,542)	(613,403)	$983,819	—	24,055,532
Capital Appreciation	66,817	724,057	338,281	(301,903)	(11,320)	140,213	—	75,472	889,328
Capital Appreciation Value	830,969	9,219,164	1,164,448	(2,612,953)	(387,096)	178,258	130,376	960,042	7,561,821
Core Bond	2,181,090	22,953,396	3,641,160	(1,948,979)	(326,833)	(632,111)	731,682	—	23,686,633
Disciplined Value	46,220	1,188,244	125,129	(322,000)	6,117	42,927	15,509	59,302	1,040,417
Disciplined Value International	263,340	3,498,515	746,375	(1,047,311)	30,729	661,230	70,898	14,208	3,889,538
Diversified Real Assets	1,148,589	14,812,738	1,459,994	(2,968,526)	143,113	(295,975)	347,119	485,611	13,151,344
Emerging Markets Debt	1,194,015	9,583,620	810,108	(1,742,743)	(466,176)	495,680	544,610	—	8,680,489
Emerging Markets Equity	98,924	1,878,180	148,897	(1,152,857)	(137,101)	139,348	22,974	—	876,467

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Equity Income	76,913	$1,601,922	$273,980	$(355,403)	$52,724	$(139,562)	$34,239	$126,897	$1,433,661
Floating Rate Income	567,292	7,103,346	706,309	(3,351,357)	(122,479)	15,313	520,220	—	4,351,132
Fundamental Global Franchise	199,155	3,171,549	466,819	(1,582,345)	(52,905)	251,313	11,495	234,362	2,254,431
Fundamental Large Cap Core	21,090	1,416,017	254,099	(386,130)	10,695	84,420	8,098	76,749	1,379,101
Global Equity	242,987	3,940,193	273,460	(1,572,153)	(95,469)	284,764	34,769	215,972	2,830,795
Global Shareholder Yield	171,608	2,102,726	197,622	(517,941)	55,080	(18,442)	59,092	111,459	1,819,045
High Yield	2,510,279	8,768,457	558,485	(1,877,905)	(313,972)	270,257	512,807	—	7,405,322
International Dynamic Growth	162,436	1,037,521	768,680	(304,896)	(68,413)	197,964	8,773	—	1,630,856
International Growth	64,861	1,926,309	300,324	(609,377)	(103,460)	55,846	—	219,615	1,569,642
International Small Company	129,946	1,459,799	131,933	(396,729)	74,353	45,696	22,708	27,303	1,315,052
International Strategic Equity Allocation	1,017,769	9,789,916	1,303,083	(2,508,516)	(236,505)	1,086,745	211,371	—	9,434,723
John Hancock Collateral Trust	35,354	316,506	2,705,913	(2,669,085)	30	59	17,724	—	353,423
Mid Cap Growth	105,773	1,817,591	327,809	(712,738)	59,824	(15,892)	—	116,809	1,476,594
Mid Value	113,994	2,180,990	465,044	(705,829)	115,471	(183,895)	11,218	336,401	1,871,781
Short Duration Bond	1,712,085	12,724,824	5,638,643	(2,466,955)	(215,860)	53,409	682,394	—	15,734,061
Strategic Income Opportunities	962,949	11,484,492	491,586	(2,481,889)	(123,970)	(19,986)	410,842	—	9,350,233
U.S. Sector Rotation	853,112	10,096,984	1,008,883	(3,902,795)	(456,018)	1,442,822	92,730	161,659	8,189,876
					$(2,790,534)	$3,439,248	$5,485,467	$3,290,476	$157,508,841
Multimanager 2010 Lifetime Portfolio
Absolute Return Currency	—	$3,411,268	—	$(3,471,789)	$95,714	$(35,193)	—	—	—
Blue Chip Growth	20,994	768,305	$432,818	(357,045)	(6,742)	122,317	—	$34,008	$959,653
Bond	1,434,155	19,632,592	3,513,124	(3,261,801)	(572,053)	(309,308)	$785,524	—	19,002,554
Capital Appreciation Value	591,154	6,208,910	1,157,972	(1,851,260)	(288,554)	152,435	91,692	675,186	5,379,503
Core Bond	1,806,150	19,582,176	4,005,701	(3,164,270)	(541,262)	(267,556)	622,649	—	19,614,789
Disciplined Value International	165,640	2,173,166	747,090	(930,074)	24,824	431,502	45,919	9,202	2,446,508
Diversified Real Assets	853,174	10,715,197	2,952,461	(3,830,184)	100,347	(168,984)	251,989	352,525	9,768,837

JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS | ANNUAL REPORT

Table of Contents

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Emerging Markets Debt	931,984	$7,233,791	$1,116,552	$(1,607,052)	$(421,359)	$453,594	$422,171	—	$6,775,526
Emerging Markets Equity	—	354,841	78,661	(428,110)	(1,258)	(4,134)	4,479	—	—
Equity Income	34,443	915,280	254,346	(480,837)	64,002	(110,772)	19,332	$74,901	642,019
Floating Rate Income	527,527	6,237,675	1,008,179	(3,094,292)	(192,914)	87,485	484,205	—	4,046,133
Fundamental Global Franchise	152,332	2,141,162	511,594	(1,096,879)	(15,312)	183,830	7,960	162,295	1,724,395
Fundamental Large Cap Core	13,320	1,047,879	324,270	(537,395)	(13,702)	49,938	6,155	58,336	870,990
Global Equity	170,277	2,445,729	455,207	(1,061,714)	(39,793)	184,296	22,641	140,638	1,983,725
Global Shareholder Yield	156,437	1,863,581	421,719	(664,039)	33,505	3,462	53,920	102,862	1,658,228
High Yield	1,975,395	6,668,336	770,521	(1,582,292)	(270,758)	241,608	399,013	—	5,827,415
International Dynamic Growth	107,626	646,648	671,683	(326,048)	(115,223)	203,504	5,702	—	1,080,564
International Growth	40,420	1,206,985	378,896	(576,228)	(73,464)	41,974	—	142,223	978,163
International Small Company	64,353	707,646	160,823	(277,774)	36,782	23,779	11,426	13,739	651,256
International Strategic Equity Allocation	658,610	5,934,797	1,749,803	(2,123,429)	(204,978)	749,117	133,622	—	6,105,310
John Hancock Collateral Trust	36,741	269,294	2,072,343	(1,974,429)	47	31	17,042	—	367,286
Mid Cap Growth	38,795	688,723	263,657	(427,350)	(9,523)	26,077	—	45,908	541,584
Mid Value	41,979	814,158	333,433	(426,579)	36,772	(68,495)	4,456	133,625	689,289
Short Duration Bond	1,618,861	11,663,172	6,388,120	(3,023,744)	(260,719)	110,499	637,832	—	14,877,328
Strategic Income Opportunities	750,299	8,648,294	535,856	(1,792,006)	(78,864)	(27,872)	316,173	—	7,285,408
U.S. Sector Rotation	440,501	6,000,713	929,806	(3,207,237)	(406,979)	912,505	57,154	99,638	4,228,808
					$(3,121,464)	$2,985,639	$4,401,056	$2,045,086	$117,505,271

ANNUAL REPORT | JOHN HANCOCK MULTIMANAGER LIFETIME PORTFOLIOS

Table of Contents

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of John Hancock Funds II and Shareholders of Multimanager 2065 Lifetime Portfolio, Multimanager 2060 Lifetime Portfolio, Multimanager 2055 Lifetime Portfolio, Multimanager 2050 Lifetime Portfolio, Multimanager 2045 Lifetime Portfolio, Multimanager 2040 Lifetime Portfolio, Multimanager 2035 Lifetime Portfolio, Multimanager 2030 Lifetime Portfolio, Multimanager 2025 Lifetime Portfolio, Multimanager 2020 Lifetime Portfolio, Multimanager 2015 Lifetime Portfolio and Multimanager 2010 Lifetime Portfolio

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the portfolios’ investments, of Multimanager 2065 Lifetime Portfolio, Multimanager 2060 Lifetime Portfolio, Multimanager 2055 Lifetime Portfolio, Multimanager 2050 Lifetime Portfolio, Multimanager 2045 Lifetime Portfolio, Multimanager 2040 Lifetime Portfolio, Multimanager 2035 Lifetime Portfolio, Multimanager 2030 Lifetime Portfolio, Multimanager 2025 Lifetime Portfolio, Multimanager 2020 Lifetime Portfolio, Multimanager 2015 Lifetime Portfolio and Multimanager 2010 Lifetime Portfolio (twelve of the funds constituting John Hancock Funds II, hereafter collectively referred to as the "Portfolios") as of August 31, 2023, the related statements of operations for the year ended August 31, 2023, the statements of changes in net assets for each of the two years in the period ended August 31, 2023, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Portfolios as of August 31, 2023, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended August 31, 2023 and each of the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

These financial statements are the responsibility of the Portfolios’ management. Our responsibility is to express an opinion on the Portfolios’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolios in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2023 by correspondence with the custodian, transfer agents and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

October 4, 2023

We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.

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Tax information

(Unaudited)

For federal income tax purposes, the following information is furnished with respect to the distributions of the portfolios, if any, paid during its taxable year ended August 31, 2023.

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

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

Each portfolio reports the maximum amount allowable as Section 163(j) Interest Dividends

Each portfolio reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).

The portfolios below have the following amounts as foreign tax credits, which represent taxes paid on the income derived from foreign sources:

Portfolio	Foreign sourced income	Foreign tax credit
Multimanager 2065 Lifetime Portfolio	$234,778	$35,758
Multimanager 2060 Lifetime Portfolio	1,276,675	193,748
Multimanager 2055 Lifetime Portfolio	2,031,314	308,064
Multimanager 2050 Lifetime Portfolio	3,223,480	489,214
Multimanager 2045 Lifetime Portfolio	5,082,013	768,413
Multimanager 2040 Lifetime Portfolio	4,963,195	741,928
Multimanager 2035 Lifetime Portfolio	5,186,979	764,336
Multimanager 2030 Lifetime Portfolio	5,084,904	733,432
Multimanager 2025 Lifetime Portfolio	3,361,254	476,843
Multimanager 2020 Lifetime Portfolio	1,444,737	200,993

The portfolios below paid the following amounts in capital gain dividends:

Portfolio	Long term capital gains
Multimanager 2065 Lifetime Portfolio	$1,143,704
Multimanager 2060 Lifetime Portfolio	22,159,811
Multimanager 2055 Lifetime Portfolio	37,367,003
Multimanager 2050 Lifetime Portfolio	71,823,120
Multimanager 2045 Lifetime Portfolio	145,127,077
Multimanager 2040 Lifetime Portfolio	146,790,668
Multimanager 2035 Lifetime Portfolio	156,081,698
Multimanager 2030 Lifetime Portfolio	156,015,946
Multimanager 2025 Lifetime Portfolio	117,210,529
Multimanager 2020 Lifetime Portfolio	51,567,174
Multimanager 2015 Lifetime Portfolio	16,018,813
Multimanager 2010 Lifetime Portfolio	8,555,060

Eligible shareholders will be mailed a 2023 Form 1099-DIV in early 2024. This will reflect the tax character of all distributions paid in calendar year 2023.

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

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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 the Subadvisory Agreement (the Subadvisory Agreement) with respect to each of the portfolios of the Trust included in this report (the Funds). The Advisory Agreement and Subadvisory Agreement are collectively referred to as the Agreements. Prior to the June 26-29, 2023 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a meeting held on May 30-June 1, 2023. The Trustees who are not “interested persons” of the Trust as deﬁned by the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting ﬁrm.

Approval of Advisory and Subadvisory Agreements

In considering the Advisory Agreement and the Subadvisory Agreement with respect to each Fund, the Board received in advance of the meetings a variety of materials relating to each Fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for peer groups of similar funds prepared by an independent third-party provider of fund data; performance information for the Funds’ benchmark indices; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable; and other information provided by the Advisor and the Subadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor 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 Agreement 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 Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the Funds, including quarterly performance reports prepared by management containing reviews of investment results and prior presentations from the Subadvisor with respect to the Funds. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the services to be provided to the Funds by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the Funds. In addition, although the Board approved the renewal of the Agreements for all the Funds at the June meeting, the Board considered each Fund separately.

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 legal 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 did not treat any single factor as determinative, and each Trustee may have attributed 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 observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund’s compliance programs, risk management programs, liquidity management programs, derivatives risk management programs, and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. 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 Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the Funds including entrepreneurial risk in sponsoring new Funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all Funds.

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 (the John Hancock Fund Complex).

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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 relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s 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 fund industry developments;

(d)the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the Funds, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the Funds, and bringing loss recovery actions on behalf of 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;

(f)the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the Funds; and

(g)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 index;

(c)considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of 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.

Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of 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 in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and the Subadvisor. 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 fees include both advisory and administrative costs.

The Board took into account management’s discussion with respect to the overall management fee and the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fees of the Funds. In addition, the Board 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 any actions taken over the past several years to reduce the Funds’ operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to each Fund and that each Fund has breakpoints in its contractual management fee schedule that reduces management fees as assets increase. The Board reviewed information provided by the Advisor concerning investment advisory fees charged by the Advisor or one of its advisory affiliates 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 comparable clients or funds. The Board concluded that the advisory fee paid with respect to each of the Funds is reasonable in light of the nature, extent and quality of the services provided to the Funds under the Advisory Agreement.

In addition, the Trustees reviewed the advisory fee to be paid to the Advisor for each Fund and noted that the Advisor has evaluated the complexity of the structure and fees and expenses associated with each Fund’s investments in the underlying portfolios and the Advisor made a finding that each Fund’s expenses do not duplicate the fees and expenses of the 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 Subadvisor) from the Advisor’s relationship with the Trust, the Board:

(a)reviewed financial information of the Advisor;

(b)reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates, of each Fund;

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(c)received and reviewed profitability information with respect to the John Hancock fund complex as a whole and with respect to each Fund;

(d)received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies;

(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 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 Funds;

(h)noted that the funds’ Subadvisor is an affiliate of the Advisor;

(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 funds in which the Funds may invest;

(l)considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and

(m)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 risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.

Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliate (the Subadvisor), from their relationship with each Fund was reasonable and not excessive.

Economies of scale. In considering the extent to which a Fund may realize any economies of scale 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 funds 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 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 of funds of the Trust and John Hancock Variable Insurance Trust and John Hancock Collateral Trust. The Funds also benefit from such overall management fee waiver through their investment in underlying funds 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)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 Agreement

In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:

(1)information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex);

(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, and comparative fee information, where available, prepared by an independent third party provider of fund data.

Nature, extent, and quality of services. With respect to the services provided by the Subadvisor with respect to each Fund, the Board received information provided to the Board by the Subadvisor, including the Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered the 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 the 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 the Subadvisor’s regulatory history, including whether it was 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 the Subadvisor and its operations, including regarding investment processes and

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organizational and staffing matters. The Board also noted that the CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed by them to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.

The Board considered the Subadvisor’s investment process and philosophy. The Board took into account that the Subadvisor’s responsibilities include the development and maintenance of an investment program for the applicable Fund that is consistent with the Fund’s investment objective, 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 the Subadvisor’s brokerage policies and practices, including with respect to best execution and soft dollars.

Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor and the profitability to that Subadvisor of its relationship with the Funds, the Board noted that the fees under the Subadvisory Agreement are paid by the Advisor and not the Funds. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement

In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the Funds, such as the opportunity to provide advisory services to additional funds in the John Hancock fund complex and reputational benefits.

Subadvisory fees. The Board considered that each Fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered, if available, each Fund’s subadvisory 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 fund data, to the extent applicable. The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the Funds to fees charged by each Fund’s Subadvisor to manage other subadvised 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 median and the benchmark index 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 the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the 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)the Subadvisor has extensive experience and demonstrated skills as a manager;

(2)the performance of each Fund has generally been in line with or generally outperformed the historical performance of comparable funds based on the median percentile over the longer term, as noted in Appendix A;

(3)the subadvisory fees are reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and

(4)noted that 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, the Trustees reviewed the subadvisory fee to be paid to the Subadvisor for each Fund and noted that the Advisor has evaluated the complexity of the structure and fees and expenses associated with each Fund’s investments in the underlying portfolios and that the Advisor made a finding that each Fund’s expenses do not duplicate the fees and expenses of the 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 the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement 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.

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APPENDIX A

Portfolio (subadvisor)	Performance of fund, as of 12.31.2022	Fees and expenses	Comments
Multimanager 2010 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the three-, five- and ten-year periods and underperformed for the one-year period. Lipper Category – The fund outperformed the median for the one-, three-, five- and ten-year periods.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index for the three-, five- and ten-year periods and peer group median for the one-, three-, five- and ten-year periods.
Multimanager 2015 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the three-, five- and ten-year periods and underperformed for the one-year period. Lipper Category – The fund outperformed the median for the one-, three-, five- and ten-year periods.	Subadvisor fee comparative data not provided due to limited size of Lipper peer group for this purpose. Net management fees for this fund are lower than the peer group median. Total expenses for this fund are equal to the peer group median.	The Board took into account management’s discussion of the fund’s performance, including the favorable performance relative to the benchmark index index for the three-, five- and ten-year periods and peer group median for the one-, three-, five- and ten-year periods.
Multimanager 2020 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the three-, ﬁve- and ten-year periods and underperformed for the one-year period. Lipper Category – The fund outperformed the median for the three-, ﬁve- and ten-year periods and underperformed for the one-year period.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index and peer group median for the three-, ﬁve- and ten-year periods.
Multimanager 2025 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the three-, ﬁve- and ten-year periods and underperformed for the one-year period. Lipper Category – The fund outperformed the median for the three-, ﬁve- and ten-year periods and underperformed for the one-year period.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index and peer group median for the three-, ﬁve- and ten-year periods.
Multimanager 2030 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the three- and ten-year periods, underperformed for the one-year period and performed in-line with the benchmark index for the five-year period. Lipper Category – The fund outperformed the median for the three-, ﬁve- and ten-year periods and underperformed for the one-year period.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index for three-, five- and ten-year periods and peer group median for the three-, ﬁve- and ten-year periods.

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Portfolio (subadvisor)	Performance of fund, as of 12.31.2022	Fees and expenses	Comments
Multimanager 2035 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the ten-year period and underperformed for the one-, three- and five-year periods. Lipper Category – The fund outperformed the median for the three-, ﬁve- and ten-year periods and underperformed for the one-year period.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index for the ten-year period and relative to the peer group median for the three-, ﬁve- and ten-year periods.
Multimanager 2040 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the ten-year period and underperformed for the one-, three- and five-year periods. Lipper Category – The fund outperformed the median for the three-, ﬁve- and ten-year periods and underperformed for the one-year period.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index index for the ten-year period and peer group median for the three-, ﬁve- and ten-year periods.
Multimanager 2045 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund underperformed for the one-, three-, ﬁve- and ten-year periods. Lipper Category – The fund outperformed the median for the three-, ﬁve- and ten-year periods and underperformed for the one-year period.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the peer group median for the three-, ﬁve- and ten-year periods.
Multimanager 2050 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund underperformed for the one-, three-, five- and ten-year periods. Lipper Category – The fund outperformed the median for the three-, five- and ten-year periods and underperformed for the one-year period.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the peer group median for the three-, five- and ten-year periods.
Multimanager 2055 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund underperformed for the one-, three- and five-year periods. Lipper Category – The fund outperformed the median for the three- and five-year periods and underperformed for the one-year period.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the peer group median for the three- and five-year periods.

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Portfolio (subadvisor)	Performance of fund, as of 12.31.2022	Fees and expenses	Comments
Multimanager 2060 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund underperformed for the one-, three- and five-year periods. Lipper Category – The fund outperformed the median for the three- and five-year periods and underperformed for the one-year period.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the peer group median for the three- and five-year periods.
Multimanager 2065 Lifetime Portfolio (Manulife Investment Management (US))	Benchmark Index – The fund underperformed for the one-year period and for the period since inception on September 30, 2020. Lipper Category – The fund underperformed the median for the one-year period and for the period since its inception on September 30, 2020.	Subadvisor fee comparative data not provided due to limited size of Lipper 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 performance relative to the benchmark index and the peer group median for the one-year period and for the period since its inception on September 30, 2020. The Board noted the Fund’s relatively limited performance history. The Board concluded that the fund’s performance is being monitored and reasonably addressed, where appropriate.

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STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT

Operation of the Liquidity Risk Management Program

This section describes the operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Multimanager 2065 Lifetime Portfolio, John Hancock Multimanager 2060 Lifetime Portfolio, John Hancock Multimanager 2055 Lifetime Portfolio, John Hancock Multimanager 2050 Lifetime Portfolio, John Hancock Multimanager 2045 Lifetime Portfolio, John Hancock Multimanager 2040 Lifetime Portfolio, John Hancock Multimanager 2035 Lifetime Portfolio, John Hancock Multimanager 2030 Lifetime Portfolio, John Hancock Multimanager 2025 Lifetime Portfolio, John Hancock Multimanager 2020 Lifetime Portfolio, John Hancock Multimanager 2015 Lifetime Portfolio and John Hancock Multimanager 2010 Lifetime Portfolio, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Portfolios’ subadvisor(s), Manulife Investment Management (US) LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.

The Committee receives monthly reports and holds quarterly in person meetings to: (1) review the day-to-day operations of the LRMP; (2) monitor current market and liquidity conditions and assess liquidity risks; (3) review and approve month-end liquidity classifications; (4) monitor illiquid investment levels against the 15% limit on illiquid investments and established Highly Liquid Investment Minimums (HLIMs), if any; (5) review quarterly testing and determinations, as applicable; (6) review redemption-in-kind activities; and (7) review other LRMP related material. The Advisor also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Advisor may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity issues. The Committee also monitors global events, such as the ongoing Russian invasion of Ukraine and related U.S. imposed sanctions on the Russian government, companies and oligarchs, and other amendments to the Office of Foreign Assets Control sanctioned company lists, that could impact the markets and liquidity of portfolio investments and their classifications. In addition, the Committee monitors macro events and assesses their potential impact on liquidity brought on by fear of contagion (e.g. regional banking crisis).

The Committee provided the Board at a meeting held on March 28-30, 2023 with a written report which addressed the Committee’s assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period January 1, 2022 through December 31, 2022, included an assessment of important aspects of the LRMP including, but not limited to: (1) Security-level liquidity classifications; (2) Fund-level liquidity risk assessment; (3) Reasonably Anticipated Trade Size (RATS) determination; (4) HLIM determination and daily monitoring; (5) Daily compliance with the 15% limit on illiquid investments; (6) Operation of the Fund’s Redemption-In-Kind Procedures; and (7) Review of liquidity management facilities.

The report provided an update on Committee activities over the previous year. Additionally, the report included a discussion of notable changes and enhancements to the LRMP implemented during 2022 and key initiatives for 2023.

The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee’s actions to address such matters.

The report stated, in relevant part, that during the period covered by the report:

•	The Fund’s investment strategy remained appropriate for an open-end fund structure;
•	The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund;
•	The Fund did not experience any breaches of the 15% limit on illiquid investments, or any applicable HLIM, that would require reporting to the Securities and Exchange Commission;
•	The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and
•	The Chief Compliance Officer’s office, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures.

Adequacy and Effectiveness

Based on the annual review and assessment conducted by the Committee, the Committee has determined that the LRMP and its controls have been implemented and are operating in a manner that is adequately and effectively managing the liquidity risk of the Fund.

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Trustees and Officers

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

Independent Trustees
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since¹	Number of John Hancock funds overseen by Trustee
Hassell H. McClellan,² Born: 1945	2005	186
Trustee and Chairperson of the Board
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex.
James R. Boyle, Born: 1959	2015	183
Trustee
Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015).
William H. Cunningham,³ Born: 1944	2012	184
Trustee
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986).
Noni L. Ellison,^* Born: 1971	2022	183
Trustee
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
Grace K. Fey, Born: 1946	2008	186
Trustee
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
Dean C. Garfield,^* Born: 1968	2022	183
Trustee
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
Deborah C. Jackson, Born: 1952	2012	185
Trustee
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
Steven R. Pruchansky, Born: 1944	2012	183
Trustee and Vice Chairperson of the Board
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex.

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Independent Trustees (continued)
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since¹	Number of John Hancock funds overseen by Trustee
Frances G. Rathke,³ Born: 1960	2020	183
Trustee
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020).
Gregory A. Russo, Born: 1949	2012	183
Trustee
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008).

Non-Independent Trustees⁴
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since¹	Number of John Hancock funds overseen by Trustee
Andrew G. Arnott, Born: 1971	2017	184
Non-Independent Trustee
Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (2018-2023); Director and Chairman, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (2007-2023, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017).
Paul Lorentz,^† Born: 1968	2022	183
Non-Independent Trustee
Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022).

Principal officers who are not Trustees
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years	Current Position(s) with the Trust since
Kristie M. Feinberg, Born: 1975	2023
President
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2023); CFO and Global Head of Strategy, Manulife Investment Management (2021-2023, including prior positions); CFO Americas & Global Head of Treasury, Invesco, Ltd., Invesco US (2019-2020, including prior positions); Senior Vice President, Corporate Treasurer and Business Controller, Oppenheimer Funds (2001-2019, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2023).
Charles A. Rizzo, Born: 1957	2007
Chief Financial Officer
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007).
Salvatore Schiavone, Born: 1965	2009
Treasurer
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions).

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Principal officers who are not Trustees (continued)
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years	Current Position(s) with the Trust since
Christopher (Kit) Sechler, Born: 1973	2018
Secretary and Chief Legal Officer
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions).
Trevor Swanberg, Born: 1979	2020
Chief Compliance Officer
Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions).

The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.

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

¹	Each Trustee holds office until his or her successor is duly elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table.
²	Member of the Audit Committee as of September 26, 2023.
³	Member of the Audit Committee.
⁴	The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates.
^*	Elected to serve as Independent Trustee effective as of September 9, 2022.
^†	Elected to serve as Non-Independent Trustee effective as of September 9, 2022.

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More information

Trustees

Hassell H. McClellan, Chairperson^π
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott^†
James R. Boyle
William H. Cunningham^*
Grace K. Fey
Noni L. Ellison^{^}
Dean C. Garfield^{^}
Deborah C. Jackson
Patricia Lizarraga^{*,^,§}

Paul Lorentz^‡
Frances G. Rathke^*
Gregory A. Russo

Officers

Kristie M. Feinberg^#
President

Charles A. Rizzo
Chief Financial Officer

Salvatore Schiavone
Treasurer

Christopher (Kit) Sechler
Secretary and Chief Legal Officer

Trevor Swanberg
Chief Compliance Officer

Investment advisor

John Hancock Investment Management LLC

Subadvisor

Manulife Investment Management (US) LLC

Portfolio Managers

Geoffrey Kelley, CFA¹
David Kobuszewski, CFA¹
Robert E. Sykes, CFA
Nathan W. Thooft, CFA

Principal distributor

John Hancock Investment Management Distributors LLC

Custodian

State Street Bank and Trust Company

Transfer agent

John Hancock Signature Services, Inc.

Legal counsel

K&L Gates LLP

Independent registered public accounting firm

PricewaterhouseCoopers LLP

^π Member of the Audit Committee as of September 26, 2023.

^† Non-Independent Trustee

^* Member of the Audit Committee

^{^} Elected to serve as Independent Trustee effective as of September 9, 2022.

^§Effective September 21, 2023, Ms. Lizarraga is no longer a Trustee.

^‡ Elected to serve as Non-Independent Trustee effective as of September 9, 2022.

^# Effective June 29, 2023.

¹ Effective January 1, 2023, Geoffrey Kelley and David Kobuszewski were added as portfolio managers of the portfolios.

The portfolios’ 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.

All of the portfolios’ holdings as of the end of the third month of every ﬁscal quarter are ﬁled with the SEC on Form N-PORT within 60 days of the end of the ﬁscal quarter. The portfolios’ Form N-PORT ﬁlings are available on our website and the SEC’s website, sec.gov.

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

You can also contact us:
800-225-5291	Regular mail:	Express mail:
jhinvestments.com	John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909	John Hancock Signature Services, Inc. 430 W 7^th Street Suite 219909 Kansas City, MO 64105-1407

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John Hancock family of funds

U.S. EQUITY FUNDS

Blue Chip Growth

Classic Value

Disciplined Value

Disciplined Value Mid Cap

Equity Income

Financial Industries

Fundamental All Cap Core

Fundamental Large Cap Core

Mid Cap Growth

New Opportunities

Regional Bank

Small Cap Core

Small Cap Growth

Small Cap Value

U.S. Global Leaders Growth

U.S. Growth

INTERNATIONAL EQUITY FUNDS

Disciplined Value International

Emerging Markets

Emerging Markets Equity

Fundamental Global Franchise

Global Environmental Opportunities

Global Equity

Global Shareholder Yield

Global Thematic Opportunities

International Dynamic Growth

International Growth

International Small Company

FIXED-INCOME FUNDS

Bond

California Municipal Bond

Emerging Markets Debt

Floating Rate Income

Government Income

High Yield

High Yield Municipal Bond

Income

Investment Grade Bond

Money Market

Municipal Opportunities

Opportunistic Fixed Income

Short Duration Bond

Short Duration Municipal Opportunities

Strategic Income Opportunities

ALTERNATIVE FUNDS

Alternative Asset Allocation

Diversified Macro

Infrastructure

Multi-Asset Absolute Return

Real Estate Securities

Seaport Long/Short

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 Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.

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EXCHANGE-TRADED FUNDS

John Hancock Corporate Bond ETF

John Hancock International High Dividend ETF

John Hancock Mortgage-Backed Securities ETF

John Hancock Multifactor Developed International ETF

John Hancock Multifactor Emerging Markets ETF

John Hancock Multifactor Large Cap ETF

John Hancock Multifactor Mid Cap ETF

John Hancock Multifactor Small Cap ETF

John Hancock Preferred Income ETF

John Hancock U.S. High Dividend ETF

ASSET ALLOCATION/TARGET DATE FUNDS

Balanced

Multi-Asset High Income

Lifestyle Blend Portfolios

Lifetime Blend Portfolios

Multimanager Lifestyle Portfolios

Multimanager Lifetime Portfolios

Preservation Blend Portfolios

ENVIRONMENTAL, SOCIAL, AND
GOVERNANCE FUNDS

ESG Core Bond

ESG International Equity

ESG Large Cap Core

CLOSED-END FUNDS

Asset-Based Lending

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 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 Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) 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.

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A trusted brand

John Hancock Investment Management is a premier asset manager
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.

A better way to invest

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

Results for investors

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

“A trusted brand” is based on a survey of 6,651 respondents conducted by Medallia between 3/18/20 and 5/13/20.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com

Manulife, Manulife Investment Management, Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

This report is for the information of the shareholders of John Hancock Multimanager Lifetime Portfolios. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.

MF3099638

LCA 8/23

10/23

A message to shareholders

Dear shareholder,

Sincerely,

Kristie M. Feinberg

Head of Wealth and Asset Management,
United States and Europe
Manulife Investment Management

President and CEO,
John Hancock Investment Management

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Management’s discussion of portfolio performance

Effective February 1, 2023, John Hancock Multi-Index Lifetime Portfolios were renamed John Hancock Lifetime Blend Portfolios.

Can you describe investment conditions during the 12 months ended August 31, 2023?

Financial assets produced mixed results during the period. On the positive side, global equities shook off a number of concerns to register a robust gain. Although central banks continued to raise interest rates, falling inflation gave investors confidence that the tightening cycle would likely end at some point in 2023. In addition, continued global growth fueled optimism that the world economy would experience a soft landing rather than a recession. Corporate earnings also came in much better than the markets had been anticipating in late 2022. Together, these factors helped stocks overcome potential headwinds such as the ongoing war in Ukraine, short-lived turmoil in the U.S. and European banking sectors in March, and growing competition from rising yields on lower-risk investments.

2065-2010 LIFETIME BLEND PORTFOLIOS’ CLASS A SHARE RETURNS (%)

For the twelve months ended 8/31/2023

Total returns for the portfolios exclude sales charges and assume all distributions are reinvested. The deduction of a class’ maximum sales charge would reduce the performance shown above.

Past performance does not guarantee future results.

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What elements of the portfolios’ positioning helped and hurt results?

All of the portfolios delivered positive absolute returns but underperformed their respective benchmarks during the period. One reason for the shortfall was that even diversified indexes, including the portfolios’ benchmarks, gained a substantial boost from the handful of strong-performing U.S. technology giants. As a result, the portfolios faced a headwind to relative performance by being broadly diversified away from this area. With this as background, asset allocation detracted from performance (across most portfolios, except John Hancock Lifetime Blend 2010, 2015, and 2020 Portfolios). Most notably, the portfolios were hurt by an underweight in U.S. large-cap stocks and corresponding overweights in domestic small caps and defensive equities. Although out-of-benchmark positions in defensive stocks registered gains, they did not keep pace with the broader market given investors’ robust appetite for risk from the start of 2023 onward.

An allocation to real assets—which consists of real estate investment trusts (REITs), natural resource equities, and infrastructure stocks—detracted in all portfolios except for John Hancock Lifetime Blend 2050, 2055, 2060, and 2065 Portfolios. While the resources sectors performed well, both REITs and infrastructure stocks were pressured by the rising-rate environment.

Positioning in the international markets was also a modest detractor for all portfolios except for John Hancock Lifetime Blend 2010, 2015, and 2025 Portfolios, due largely to an underweight in developed-market stocks. An underweight in the emerging markets contributed in John Hancock Lifetime Blend 2010, 2015, 2020, 2025, 2030, 2035, and 2040 Portfolios. However, all other portfolios were hurt by an overweight in the asset class.

The majority of the individual investment products in the portfolios are passively implemented strategies. However, a limited number have the ability to make active allocations decisions regarding sectors, countries, and regions. This element of our strategy detracted from results across all portfolios.

MARKET INDEX TOTAL RETURNS
For the twelve months ended 8/31/2023
U.S. Stocks	S&P 500 Index	15.94%
	Russell Midcap Index	8.38%
	Russell 2000 Index	4.65%
	FTSE NAREIT All Equity REIT Index	-7.71%
International Stocks	MSCI EAFE Index	17.92%
	MSCI Emerging Markets Index	1.25%
	MSCI EAFE Small Cap Index	9.18%
Fixed Income	Bloomberg U.S. Aggregate Bond Index	-1.19%
	ICE Bank of America U.S. High Yield Index	7.01%
	JPMorgan Global Government Bonds Unhedged Index	-1.61%

Market index total returns are included here as broad measures of market performance.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

Table of Contents

2065 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2065 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2060+ Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	52.1
Equity	52.1
Large blend	28.5
International equity	23.6
Unaffiliated investment companies	45.5
Equity	42.4
Fixed income	3.1
U.S. Government	1.9
Short-term investments	0.5

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4²	Class R6²	Class 1²	Index 1	Index 2
Inception	9-23-20	9-23-20	9-23-20	9-23-20	9-23-20	9-23-20
Average annual total returns
1 year	4.77	10.52	10.78	10.72	12.95	11.20
Since inception	6.47	8.48	8.67	8.66	9.10	8.51
Cumulative returns
Since inception	20.25	27.03	27.69	27.66	29.16	27.15

Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charge on Class A shares of 5%. Sales charges are not applicable to Class R4, Class R6, and Class 1 shares.

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.97	1.91	1.56	1.60
Net (%)	0.73	0.57	0.32	0.36

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	Class A shares were first offered on 6-21-21. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

Table of Contents

2060 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2060 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2060+ Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	52.2
Equity	52.2
Large blend	28.5
International equity	23.7
Unaffiliated investment companies	45.6
Equity	42.6
Fixed income	3.0
U.S. Government	2.0
Short-term investments	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	3-30-16	3-30-16	3-30-16	3-30-16	3-30-16	3-30-16
Average annual total returns
1 year	4.87	10.55	10.84	10.78	12.95	11.20
5 year	5.41	6.50	6.72	6.67	6.89	7.40
Since inception	8.03	8.76	8.95	8.90	9.23	10.06
Cumulative returns
5 year	30.13	36.98	38.45	38.10	39.56	42.87
Since inception	77.46	86.52	89.02	88.38	92.60	103.70

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.16	1.10	0.75	0.79
Net (%)	0.73	0.57	0.32	0.36

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	Class A and Class R4 shares were first offered on 6-21-21 and 4-7-17, respectively. Returns prior to these dates are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

2055 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2055 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2055 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	51.9
Equity	51.9
Large blend	28.4
International equity	23.5
Unaffiliated investment companies	45.3
Equity	42.4
Fixed income	2.9
U.S. Government	2.1
Short-term investments	0.7

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	3-26-14	3-26-14	3-26-14	3-26-14	3-26-14	3-26-14
Average annual total returns
1 year	4.80	10.57	10.77	10.70	12.85	11.20
5 year	5.42	6.48	6.72	6.66	6.87	7.40
Since inception	6.95	7.47	7.67	7.63	7.72	8.55
Cumulative returns
5 year	30.18	36.86	38.44	38.06	39.38	42.87
Since inception	88.57	97.33	100.91	100.05	101.64	116.80

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.08	1.03	0.68	0.72
Net (%)	0.73	0.57	0.32	0.36

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	Class R4 shares were first offered on 3-26-14 and ceased operations between 6-15-16 and 4-7-17. Class A shares were first offered on 6-21-21. Returns while Class A and Class R4 shares were not offered are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

Table of Contents

2050 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2050 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2050 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	52.1
Equity	52.1
Large blend	28.5
International equity	23.6
Unaffiliated investment companies	45.6
Equity	42.6
Fixed income	3.0
U.S. Government	2.1
Short-term investments	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13
Average annual total returns
1 year	4.86	10.49	10.71	10.82	12.77	11.20
5 year	5.45	6.47	6.72	6.70	6.82	7.40
Since inception	7.20	7.68	7.89	7.85	7.78	8.66
Cumulative returns
5 year	30.36	36.81	38.44	38.29	39.05	42.87
Since inception	97.93	106.73	110.77	109.99	108.65	125.93

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.07	1.01	0.66	0.70
Net (%)	0.73	0.57	0.32	0.36

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	Class R4 shares were first offered on 11-7-13 and ceased operations between 6-15-16 and 4-7-17. Class A shares were first offered on 6-21-21. Returns while Class A and Class R4 shares were not offered are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

2045 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2045 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2045 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	50.7
Equity	50.7
Large blend	27.8
International equity	22.9
Unaffiliated investment companies	46.2
Equity	40.7
Fixed income	5.5
U.S. Government	2.6
Short-term investments	0.5

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13
Average annual total returns
1 year	4.41	10.11	10.38	10.33	12.36	10.79
5 year	5.39	6.42	6.68	6.63	6.68	7.33
Since inception	7.15	7.63	7.85	7.79	7.60	8.62
Cumulative returns
5 year	30.01	36.52	38.16	37.85	38.15	42.42
Since inception	96.89	105.79	109.92	108.87	105.25	125.21

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.06	1.00	0.65	0.69
Net (%)	0.73	0.57	0.32	0.36

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	Class R4 shares were first offered on 11-7-13 and ceased operations between 6-15-16 and 4-7-17. Class A shares were first offered on 6-21-21. Returns while Class A and Class R4 shares were not offered are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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2040 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2040 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2040 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	45.7
Equity	45.7
Large blend	25.1
International equity	20.6
Unaffiliated investment companies	50.2
Equity	38.6
Fixed income	11.6
U.S. Government	3.9
Short-term investments	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13
Average annual total returns
1 year	3.28	8.88	9.18	9.04	11.43	9.64
5 year	5.03	6.08	6.32	6.26	6.36	6.90
Since inception	6.96	7.46	7.66	7.61	7.32	8.39
Cumulative returns
5 year	27.80	34.33	35.83	35.50	36.11	39.58
Since inception	93.60	102.70	106.46	105.39	100.12	120.50

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.05	1.00	0.65	0.69
Net (%)	0.73	0.57	0.32	0.36

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	Class R4 shares were first offered on 11-7-13 and ceased operations between 6-15-16 and 4-7-17. Class A shares were first offered on 6-21-21. Returns while Class A and Class R4 shares were not offered are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

2035 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2035 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2035 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	40.9
Equity	40.9
Large blend	22.4
International equity	18.5
Unaffiliated investment companies	54.1
Equity	34.9
Fixed income	19.2
U.S. Government	4.8
Short-term investments	0.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13
Average annual total returns
1 year	2.19	7.61	7.90	7.94	10.09	8.31
5 year	4.47	5.50	5.75	5.72	5.85	6.36
Since inception	6.48	6.96	7.18	7.13	6.88	7.90
Cumulative returns
5 year	24.42	30.67	32.25	32.05	32.86	36.09
Since inception	85.25	93.65	97.47	96.67	92.10	110.87

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.05	0.99	0.64	0.68
Net (%)	0.73	0.57	0.32	0.36

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	Class R4 shares were first offered on 11-7-13 and ceased operations between 6-15-16 and 4-7-17. Class A shares were first offered on 6-21-21. Returns while Class A and Class R4 shares were not offered are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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2030 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2030 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2030 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	34.4
Equity	34.4
Large blend	18.9
International equity	15.5
Unaffiliated investment companies	56.4
Equity	29.3
Fixed income	27.1
U.S. Government	5.7
Short-term investments	3.5

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13
Average annual total returns
1 year	0.97	6.37	6.76	6.62	8.61	7.09
5 year	3.97	4.99	5.24	5.19	5.21	5.85
Since inception	5.94	6.42	6.64	6.58	6.28	7.37
Cumulative returns
5 year	21.46	27.57	29.08	28.79	28.92	32.90
Since inception	76.17	84.19	87.95	86.90	81.76	101.02

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.07	1.01	0.66	0.70
Net (%)	0.74	0.58	0.33	0.37

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	Class R4 shares were first offered on 11-7-13 and ceased operations between 6-15-16 and 4-7-17. Class A shares were first offered on 6-21-21. Returns while Class A and Class R4 shares were not offered are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

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2025 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2025 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2025 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	26.5
Equity	26.5
Large blend	14.1
International equity	12.4
Unaffiliated investment companies	64.6
Fixed income	37.7
Equity	26.9
U.S. Government	6.6
Short-term investments	2.3

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13
Average annual total returns
1 year	-0.19	5.32	5.50	5.45	7.16	5.90
5 year	3.43	4.47	4.69	4.65	4.63	5.28
Since inception	5.32	5.81	6.01	5.96	5.68	6.76
Cumulative returns
5 year	18.37	24.46	25.78	25.50	25.41	29.31
Since inception	66.36	74.09	77.40	76.49	72.05	90.05

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.08	1.02	0.67	0.71
Net (%)	0.76	0.60	0.35	0.39

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	Class R4 shares were first offered on 11-7-13 and ceased operations between 6-15-16 and 4-7-17. Class A shares were first offered on 6-21-21. Returns while Class A and Class R4 shares were not offered are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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2020 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2020 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2020 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	17.7
Equity	17.7
Large blend	9.7
International equity	8.0
Unaffiliated investment companies	72.0
Fixed income	45.3
Equity	26.7
U.S. Government	7.1
Short-term investments	3.2

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13
Average annual total returns
1 year	-0.74	4.68	4.94	4.79	6.31	5.20
5 year	2.85	3.85	4.12	4.06	4.02	4.60
Since inception	4.61	5.07	5.30	5.24	5.07	5.97
Cumulative returns
5 year	15.08	20.81	22.37	22.00	21.78	25.21
Since inception	55.60	62.54	66.04	65.07	62.56	76.62

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.13	1.07	0.72	0.76
Net (%)	0.77	0.61	0.36	0.40

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	Class R4 shares were first offered on 11-7-13 and ceased operations between 6-15-16 and 4-7-17. Class A shares were first offered on 6-21-21. Returns while Class A and Class R4 shares were not offered are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

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2015 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2015 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2015 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	15.4
Equity	15.4
Large blend	9.2
International equity	6.2
Unaffiliated investment companies	71.8
Fixed income	49.7
Equity	22.1
U.S. Government	7.4
Short-term investments	5.4

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13
Average annual total returns
1 year	-0.96	4.45	4.61	4.71	5.51	4.86
5 year	2.58	3.59	3.85	3.81	3.86	4.26
Since inception	4.09	4.57	4.77	4.73	4.71	5.27
Cumulative returns
5 year	13.57	19.29	20.80	20.57	20.87	23.20
Since inception	48.19	55.02	58.04	57.41	57.10	65.54

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.30	1.25	0.90	0.94
Net (%)	0.78	0.62	0.37	0.41

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	Class R4 shares were first offered on 11-7-13 and ceased operations between 6-15-16 and 4-7-17. Class A shares were first offered on 6-21-21. Returns while Class A and Class R4 shares were not offered are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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2010 Lifetime Blend Portfolio

GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock 2010 Lifetime Blend Portfolio for a share class and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in a blended index and a separate index.

Index 1 is the S&P Target Date 2010 Index, an unmanaged index comprising a set of indices aligned with specific target date years.

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 (% of total investments)
Affiliated investment companies	11.6
Equity	11.6
Large blend	6.7
International equity	4.9
Unaffiliated investment companies	76.7
Fixed income	56.4
Equity	20.3
U.S. Government	7.6
Short-term investments	4.1

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R4^1,2	Class R6²	Class 1²	Index 1	Index 2
Inception	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13	11-7-13
Average annual total returns
1 year	-1.19	4.19	4.46	4.43	5.28	4.51
5 year	2.43	3.47	3.69	3.64	3.61	3.94
Since inception	3.77	4.25	4.46	4.40	4.24	4.75
Cumulative returns
5 year	12.74	18.59	19.85	19.59	19.38	21.29
Since inception	43.84	50.53	53.40	52.63	50.30	57.66

	Class A	Class R4	Class R6	Class 1
Gross (%)	1.43	1.38	1.03	1.07
Net (%)	0.78	0.62	0.37	0.41

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	Class R4 shares were first offered on 11-7-13 and ceased operations between 6-15-16 and 4-7-17. Class A shares were first offered on 6-21-21. Returns while Class A and Class R4 shares were not offered are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

Your expenses

As a shareholder of a John Hancock Funds II Lifetime Blend Portfolio, 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, each 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 a 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.

Actual expenses:

Hypothetical example for comparison purposes:

SHAREHOLDER EXPENSE EXAMPLE CHART

		Account value on 3-1-2023	Ending value on 8-31-2023	Expenses paid during period ended 8-31-2023¹	Annualized expense ratio²
2065 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,074.30	$2.25	0.43%
	Hypothetical example	1,000.00	1,023.00	2.19	0.43%
Class R4	Actual expenses/actual returns	1,000.00	1,076.20	1.31	0.25%
	Hypothetical example	1,000.00	1,023.90	1.28	0.25%
Class R6	Actual expenses/actual returns	1,000.00	1,077.10	0.05	0.01%
	Hypothetical example	1,000.00	1,025.20	0.05	0.01%
Class 1	Actual expenses/actual returns	1,000.00	1,076.10	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
2060 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,075.00	$2.25	0.43%
	Hypothetical example	1,000.00	1,023.00	2.19	0.43%
Class R4	Actual expenses/actual returns	1,000.00	1,075.80	1.41	0.27%
	Hypothetical example	1,000.00	1,023.80	1.38	0.27%
Class R6	Actual expenses/actual returns	1,000.00	1,077.50	0.10	0.02%
	Hypothetical example	1,000.00	1,025.10	0.10	0.02%
Class 1	Actual expenses/actual returns	1,000.00	1,076.60	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

Table of Contents

SHAREHOLDER EXPENSE EXAMPLE CHART (continued)

		Account value on 3-1-2023	Ending value on 8-31-2023	Expenses paid during period ended 8-31-2023¹	Annualized expense ratio²
2055 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,075.00	$2.25	0.43%
	Hypothetical example	1,000.00	1,023.00	2.19	0.43%
Class R4	Actual expenses/actual returns	1,000.00	1,076.00	1.41	0.27%
	Hypothetical example	1,000.00	1,023.80	1.38	0.27%
Class R6	Actual expenses/actual returns	1,000.00	1,076.90	0.10	0.02%
	Hypothetical example	1,000.00	1,025.10	0.10	0.02%
Class 1	Actual expenses/actual returns	1,000.00	1,076.90	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
2050 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,074.90	$2.25	0.43%
	Hypothetical example	1,000.00	1,023.00	2.19	0.43%
Class R4	Actual expenses/actual returns	1,000.00	1,076.00	1.41	0.27%
	Hypothetical example	1,000.00	1,023.80	1.38	0.27%
Class R6	Actual expenses/actual returns	1,000.00	1,076.90	0.10	0.02%
	Hypothetical example	1,000.00	1,025.10	0.10	0.02%
Class 1	Actual expenses/actual returns	1,000.00	1,077.70	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
2045 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,072.10	$2.25	0.43%
	Hypothetical example	1,000.00	1,023.00	2.19	0.43%
Class R4	Actual expenses/actual returns	1,000.00	1,073.30	1.41	0.27%
	Hypothetical example	1,000.00	1,023.80	1.38	0.27%
Class R6	Actual expenses/actual returns	1,000.00	1,074.90	0.10	0.02%
	Hypothetical example	1,000.00	1,025.10	0.10	0.02%
Class 1	Actual expenses/actual returns	1,000.00	1,074.00	0.37	0.07%
	Hypothetical example	1,000.00	1,024.90	0.36	0.07%
2040 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,065.20	$2.34	0.45%
	Hypothetical example	1,000.00	1,022.90	2.29	0.45%
Class R4	Actual expenses/actual returns	1,000.00	1,066.10	1.51	0.29%
	Hypothetical example	1,000.00	1,023.70	1.48	0.29%
Class R6	Actual expenses/actual returns	1,000.00	1,068.00	0.21	0.04%
	Hypothetical example	1,000.00	1,025.00	0.20	0.04%
Class 1	Actual expenses/actual returns	1,000.00	1,067.10	0.47	0.09%
	Hypothetical example	1,000.00	1,024.80	0.46	0.09%
2035 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,058.00	$2.44	0.47%
	Hypothetical example	1,000.00	1,022.80	2.40	0.47%
Class R4	Actual expenses/actual returns	1,000.00	1,058.00	1.61	0.31%
	Hypothetical example	1,000.00	1,023.60	1.58	0.31%
Class R6	Actual expenses/actual returns	1,000.00	1,059.90	0.31	0.06%
	Hypothetical example	1,000.00	1,024.90	0.31	0.06%
Class 1	Actual expenses/actual returns	1,000.00	1,059.90	0.52	0.10%
	Hypothetical example	1,000.00	1,024.70	0.51	0.10%

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

SHAREHOLDER EXPENSE EXAMPLE CHART (continued)

		Account value on 3-1-2023	Ending value on 8-31-2023	Expenses paid during period ended 8-31-2023¹	Annualized expense ratio²
2030 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,049.40	$2.58	0.50%
	Hypothetical example	1,000.00	1,022.70	2.55	0.50%
Class R4	Actual expenses/actual returns	1,000.00	1,049.50	1.76	0.34%
	Hypothetical example	1,000.00	1,023.50	1.73	0.34%
Class R6	Actual expenses/actual returns	1,000.00	1,052.40	0.47	0.09%
	Hypothetical example	1,000.00	1,024.80	0.46	0.09%
Class 1	Actual expenses/actual returns	1,000.00	1,051.40	0.67	0.13%
	Hypothetical example	1,000.00	1,024.60	0.66	0.13%
2025 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,040.40	$2.83	0.55%
	Hypothetical example	1,000.00	1,022.40	2.80	0.55%
Class R4	Actual expenses/actual returns	1,000.00	1,042.40	2.01	0.39%
	Hypothetical example	1,000.00	1,023.20	1.99	0.39%
Class R6	Actual expenses/actual returns	1,000.00	1,043.40	0.72	0.14%
	Hypothetical example	1,000.00	1,024.50	0.71	0.14%
Class 1	Actual expenses/actual returns	1,000.00	1,042.40	0.93	0.18%
	Hypothetical example	1,000.00	1,024.30	0.92	0.18%
2020 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,036.80	$3.08	0.60%
	Hypothetical example	1,000.00	1,022.20	3.06	0.60%
Class R4	Actual expenses/actual returns	1,000.00	1,036.80	2.26	0.44%
	Hypothetical example	1,000.00	1,023.00	2.24	0.44%
Class R6	Actual expenses/actual returns	1,000.00	1,038.80	0.98	0.19%
	Hypothetical example	1,000.00	1,024.20	0.97	0.19%
Class 1	Actual expenses/actual returns	1,000.00	1,037.80	1.18	0.23%
	Hypothetical example	1,000.00	1,024.00	1.17	0.23%
2015 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,035.00	$3.18	0.62%
	Hypothetical example	1,000.00	1,022.10	3.16	0.62%
Class R4	Actual expenses/actual returns	1,000.00	1,036.10	2.36	0.46%
	Hypothetical example	1,000.00	1,022.90	2.35	0.46%
Class R6	Actual expenses/actual returns	1,000.00	1,037.20	1.08	0.21%
	Hypothetical example	1,000.00	1,024.10	1.07	0.21%
Class 1	Actual expenses/actual returns	1,000.00	1,037.20	1.28	0.25%
	Hypothetical example	1,000.00	1,023.90	1.28	0.25%
2010 Lifetime Blend Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,033.60	$3.28	0.64%
	Hypothetical example	1,000.00	1,022.00	3.26	0.64%
Class R4	Actual expenses/actual returns	1,000.00	1,033.60	2.31	0.45%
	Hypothetical example	1,000.00	1,022.90	2.29	0.45%
Class R6	Actual expenses/actual returns	1,000.00	1,034.70	1.13	0.22%
	Hypothetical example	1,000.00	1,024.10	1.12	0.22%
Class 1	Actual expenses/actual returns	1,000.00	1,034.70	1.38	0.27%
	Hypothetical example	1,000.00	1,023.80	1.38	0.27%

¹	Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
²	Ratios do not include expenses indirectly incurred by the underlying funds and can vary based on the mix of underlying funds held by the portfolios.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

Table of Contents

Portfolios’ investments

2065 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 52.3%
Equity - 52.3%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	1,091,911	$10,122,018
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	1,268,996	12,182,361

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $21,512,710)		$22,304,379
UNAFFILIATED INVESTMENT COMPANIES - 45.7%
Equity - 42.6%
Fidelity Mid Cap Index Fund	199,467	5,638,921
Fidelity Small Cap Index Fund	75,436	1,779,545
Financial Select Sector SPDR Fund	11,191	384,747
iShares MSCI Global Min Vol Factor ETF	2,993	291,907
Vanguard Dividend Appreciation ETF	1,198	195,394
Vanguard FTSE All World ex-US Small-Cap ETF	6,678	744,530
Vanguard FTSE Developed Markets ETF	16,669	762,607
Vanguard FTSE Emerging Markets ETF	50,950	2,065,004
Vanguard Health Care ETF	2,049	500,858
Vanguard Information Technology ETF	872	387,935
Vanguard S&P 500 ETF	13,085	5,414,967
Fixed income - 3.1%
Vanguard Emerging Markets Government Bond ETF	3,448	212,190
Vanguard Intermediate-Term Corporate Bond ETF	5,535	433,335
Vanguard Total Bond Market ETF	6,031	432,724
Xtrackers USD High Yield Corporate Bond ETF	6,914	239,224

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $18,877,014)		$19,483,888
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	300	0
ICA Gruppen AB (C)(D)	13	0
Health care - 0.0%
NMC Health PLC (D)	9	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	40	121
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	1,216	33

TOTAL COMMON STOCKS (Cost $303)		$154
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 1.9%
U.S. Government - 1.9%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$439,500	136,986
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	845,100	267,066
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	794,400	260,908
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	434,200	148,149

2065 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $969,299)		$813,109
SHORT-TERM INVESTMENTS - 0.6%
Short-term funds - 0.6%
John Hancock Collateral Trust, 5.4789% (F)(G)	23,517	$235,087

TOTAL SHORT-TERM INVESTMENTS (Cost $234,898)		$235,087
Total investments (Cost $41,594,224) - 100.5%		$42,836,617
Other assets and liabilities, net - (0.5%)		(197,580)
TOTAL NET ASSETS - 100.0%		$42,639,037

2060 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 52.3%
Equity - 52.3%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	4,297,831	$39,840,896
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	4,991,198	47,915,499

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $85,970,449)		$87,756,395
UNAFFILIATED INVESTMENT COMPANIES - 45.6%
Equity - 42.6%
Fidelity Mid Cap Index Fund	784,541	22,178,972
Fidelity Small Cap Index Fund	296,706	6,999,294
Financial Select Sector SPDR Fund	44,060	1,514,783
iShares MSCI Global Min Vol Factor ETF	11,801	1,150,952
Vanguard Dividend Appreciation ETF	4,715	769,017
Vanguard FTSE All World ex-US Small-Cap ETF	26,301	2,932,298
Vanguard FTSE Developed Markets ETF	65,680	3,004,860
Vanguard FTSE Emerging Markets ETF	201,439	8,164,323
Vanguard Health Care ETF	8,071	1,972,875
Vanguard Information Technology ETF	3,483	1,549,517
Vanguard S&P 500 ETF	51,465	21,297,761
Fixed income - 3.0%
Vanguard Emerging Markets Government Bond ETF	13,657	840,452
Vanguard Intermediate-Term Corporate Bond ETF	21,767	1,704,138
Vanguard Total Bond Market ETF	22,714	1,629,730
Xtrackers USD High Yield Corporate Bond ETF	27,311	944,961

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $71,916,793)		$76,653,933
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	2,326	0
ICA Gruppen AB (C)(D)	100	0
Health care - 0.0%
NMC Health PLC (D)	73	0

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

2060 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	310	$934
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	9,419	258

TOTAL COMMON STOCKS (Cost $2,348)		$1,192
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 2.0%
U.S. Government - 2.0%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$1,843,000	574,439
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	3,544,700	1,120,184
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	3,331,400	1,094,144
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	1,820,800	621,255

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $4,200,217)		$3,410,022
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	23,136	231,280

TOTAL SHORT-TERM INVESTMENTS (Cost $231,041)		$231,280
Total investments (Cost $162,320,848) - 100.1%		$168,052,822
Other assets and liabilities, net - (0.1%)		(105,768)
TOTAL NET ASSETS - 100.0%		$167,947,054

2055 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 52.3%
Equity - 52.3%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	7,742,933	$71,776,986
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	9,027,552	86,664,496

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $156,055,641)		$158,441,482
UNAFFILIATED INVESTMENT COMPANIES - 45.5%
Equity - 42.6%
Fidelity Mid Cap Index Fund	1,416,815	40,053,357
Fidelity Small Cap Index Fund	536,312	12,651,607
Financial Select Sector SPDR Fund	79,531	2,734,276
iShares MSCI Global Min Vol Factor ETF	21,301	2,077,487
Vanguard Dividend Appreciation ETF	8,501	1,386,513
Vanguard FTSE All World ex-US Small-Cap ETF (H)	47,474	5,292,876
Vanguard FTSE Developed Markets ETF	118,556	5,423,937
Vanguard FTSE Emerging Markets ETF	363,606	14,736,951
Vanguard Health Care ETF	14,568	3,561,002
Vanguard Information Technology ETF	6,239	2,775,606
Vanguard S&P 500 ETF	93,022	38,495,294

2055 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value
Fixed income - 2.9%
Vanguard Emerging Markets Government Bond ETF	24,651	$1,517,023
Vanguard Intermediate-Term Corporate Bond ETF	36,730	2,875,592
Vanguard Total Bond Market ETF	40,021	2,871,507
Xtrackers USD High Yield Corporate Bond ETF	45,879	1,587,413

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $127,728,549)		$138,040,441
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	4,869	0
ICA Gruppen AB (C)(D)	209	0
Health care - 0.0%
NMC Health PLC (D)	153	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	649	1,956
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	19,720	541

TOTAL COMMON STOCKS (Cost $4,917)		$2,497
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 2.1%
U.S. Government - 2.1%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$3,404,000	1,060,983
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	6,546,200	2,068,707
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	6,152,900	2,020,819
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	3,363,000	1,147,452

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $7,778,907)		$6,297,961
SHORT-TERM INVESTMENTS - 0.7%
Short-term funds - 0.7%
John Hancock Collateral Trust, 5.4789% (F)(I)	213,420	2,133,470

TOTAL SHORT-TERM INVESTMENTS (Cost $2,133,336)		$2,133,470
Total investments (Cost $293,701,350) - 100.6%		$304,915,851
Other assets and liabilities, net - (0.6%)		(1,826,764)
TOTAL NET ASSETS - 100.0%		$303,089,087

2050 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 52.2%
Equity - 52.2%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	10,197,048	$94,526,639
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	11,858,597	113,842,530

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $205,210,816)		$208,369,169

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

2050 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value

UNAFFILIATED INVESTMENT COMPANIES - 45.6%
Equity - 42.6%
Fidelity Mid Cap Index Fund	1,863,864	$52,691,430
Fidelity Small Cap Index Fund	705,476	16,642,175
Financial Select Sector SPDR Fund	104,969	3,608,834
iShares MSCI Global Min Vol Factor ETF	28,111	2,741,666
Vanguard Dividend Appreciation ETF	11,219	1,829,819
Vanguard FTSE All World ex-US Small-Cap ETF	62,652	6,985,071
Vanguard FTSE Developed Markets ETF	156,468	7,158,411
Vanguard FTSE Emerging Markets ETF	479,851	19,448,361
Vanguard Health Care ETF	19,226	4,699,603
Vanguard Information Technology ETF	8,291	3,688,500
Vanguard S&P 500 ETF	122,281	50,603,547
Fixed income - 3.0%
Vanguard Emerging Markets Government Bond ETF	32,482	1,998,942
Vanguard Intermediate-Term Corporate Bond ETF	50,820	3,978,698
Vanguard Total Bond Market ETF	53,109	3,810,571
Xtrackers USD High Yield Corporate Bond ETF	63,765	2,206,269

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $168,427,058)		$182,091,897
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	6,675	0
ICA Gruppen AB (C)(D)	287	0
Health care - 0.0%
NMC Health PLC (D)	209	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	890	2,681
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	27,032	741

TOTAL COMMON STOCKS (Cost $6,739)		$3,422
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 2.1%
U.S. Government - 2.1%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$4,491,400	1,399,911
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	8,637,500	2,729,592
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	8,118,200	2,666,290
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	4,436,000	1,513,558

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $10,257,698)		$8,309,351
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	71,596	715,714

2050 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value

TOTAL SHORT-TERM INVESTMENTS (Cost $715,670)		$715,714
Total investments (Cost $384,617,981) - 100.1%		$399,489,553
Other assets and liabilities, net - (0.1%)		(342,152)
TOTAL NET ASSETS - 100.0%		$399,147,401

2045 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 50.9%
Equity - 50.9%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	12,505,780	$115,928,585
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	14,629,715	140,445,260

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $254,488,237)		$256,373,845
UNAFFILIATED INVESTMENT COMPANIES - 46.3%
Equity - 40.8%
Fidelity Mid Cap Index Fund	2,199,095	62,168,406
Fidelity Small Cap Index Fund	832,699	19,643,365
Financial Select Sector SPDR Fund	129,039	4,436,361
iShares Global Infrastructure ETF	10,455	475,075
iShares MSCI Global Min Vol Factor ETF	35,369	3,449,539
Vanguard Dividend Appreciation ETF	14,116	2,302,320
Vanguard Energy ETF	11,593	1,444,836
Vanguard FTSE All World ex-US Small-Cap ETF	78,827	8,788,422
Vanguard FTSE Developed Markets ETF	217,940	9,970,755
Vanguard FTSE Emerging Markets ETF	516,773	20,944,810
Vanguard Global ex-U.S. Real Estate ETF	11,803	479,674
Vanguard Health Care ETF	23,571	5,761,695
Vanguard Information Technology ETF	10,127	4,505,300
Vanguard Materials ETF	5,275	962,582
Vanguard Real Estate ETF	17,366	1,430,611
Vanguard S&P 500 ETF	141,863	58,707,166
Fixed income - 5.5%
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (H)	58,333	1,465,908
Vanguard Emerging Markets Government Bond ETF	56,229	3,460,333
Vanguard Intermediate-Term Corporate Bond ETF	123,550	9,672,730
Vanguard Total Bond Market ETF	125,706	9,019,406
Xtrackers USD High Yield Corporate Bond ETF	121,615	4,207,879

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $216,790,391)		$233,297,173
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	8,519	0
ICA Gruppen AB (C)(D)	366	0

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

2045 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value
Health care - 0.0%
NMC Health PLC (D)	267	$0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	1,136	3,422
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	34,500	946

TOTAL COMMON STOCKS (Cost $8,601)		$4,368
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 2.6%
U.S. Government - 2.6%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$7,205,900	2,245,986
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	13,859,500	4,379,830
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	13,026,800	4,278,440
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	7,119,700	2,429,233

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $16,469,746)		$13,333,489
SHORT-TERM INVESTMENTS - 0.5%
Short-term funds - 0.5%
John Hancock Collateral Trust, 5.4789% (F)(I)	232,200	2,321,215

TOTAL SHORT-TERM INVESTMENTS (Cost $2,320,805)		$2,321,215
Total investments (Cost $490,077,780) - 100.3%		$505,330,090
Other assets and liabilities, net - (0.3%)		(1,649,435)
TOTAL NET ASSETS - 100.0%		$503,680,655

2040 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 45.8%
Equity - 45.8%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	12,452,482	$115,434,504
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	14,609,121	140,247,559

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $255,241,343)		$255,682,063
UNAFFILIATED INVESTMENT COMPANIES - 50.3%
Equity - 38.7%
Fidelity Mid Cap Index Fund	2,101,280	59,403,190
Fidelity Small Cap Index Fund	795,970	18,776,923
Financial Select Sector SPDR Fund	137,129	4,714,495
iShares Global Infrastructure ETF	30,048	1,365,381
iShares MSCI Global Min Vol Factor ETF	86,817	8,467,262
Vanguard Dividend Appreciation ETF	34,663	5,653,535
Vanguard Energy ETF	33,370	4,158,903
Vanguard FTSE All World ex-US Small-Cap ETF	87,330	9,736,422
Vanguard FTSE Developed Markets ETF	291,913	13,355,020
Vanguard FTSE Emerging Markets ETF	421,421	17,080,193
Vanguard Global ex-U.S. Real Estate ETF	34,049	1,383,751

2040 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
Vanguard Health Care ETF	25,930	$6,338,329
Vanguard Information Technology ETF	11,001	4,894,125
Vanguard Materials ETF	15,178	2,769,681
Vanguard Real Estate ETF	50,033	4,121,719
Vanguard S&P 500 ETF	129,861	53,740,378
Fixed income - 11.6%
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	60,550	1,521,622
Vanguard Emerging Markets Government Bond ETF	139,024	8,555,537
Vanguard Intermediate-Term Corporate Bond ETF	297,751	23,310,926
Vanguard Total Bond Market ETF	311,870	22,376,673
Xtrackers USD High Yield Corporate Bond ETF	263,519	9,117,757

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $265,927,598)		$280,841,822
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	8,209	0
ICA Gruppen AB (C)(D)	353	0
Health care - 0.0%
NMC Health PLC (D)	258	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	1,095	3,297
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	33,245	911

TOTAL COMMON STOCKS (Cost $8,288)		$4,208
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 3.9%
U.S. Government - 3.9%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$11,654,700	3,632,620
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	22,417,000	7,084,141
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	21,069,100	6,919,802
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	11,515,600	3,929,109

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $27,315,563)		$21,565,672
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	139,412	1,393,650

TOTAL SHORT-TERM INVESTMENTS (Cost $1,393,590)		$1,393,650
Total investments (Cost $549,886,382) - 100.2%		$559,487,415
Other assets and liabilities, net - (0.2%)		(1,025,380)
TOTAL NET ASSETS - 100.0%		$558,462,035

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

2035 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 40.9%
Equity - 40.9%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	13,521,557	$125,344,834
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	15,738,164	151,086,378

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $276,764,319)		$276,431,212
UNAFFILIATED INVESTMENT COMPANIES - 54.2%
Equity - 34.9%
Fidelity Mid Cap Index Fund	2,137,049	60,414,370
Fidelity Small Cap Index Fund	808,706	19,077,377
Financial Select Sector SPDR Fund	156,082	5,366,099
iShares Global Infrastructure ETF	58,514	2,658,876
iShares MSCI Global Min Vol Factor ETF	172,824	16,855,525
Vanguard Dividend Appreciation ETF	69,224	11,290,434
Vanguard Energy ETF	65,207	8,126,748
Vanguard FTSE All World ex-US Small-Cap ETF	96,527	10,761,795
Vanguard FTSE Developed Markets ETF	369,435	16,901,651
Vanguard FTSE Emerging Markets ETF	314,923	12,763,829
Vanguard Global ex-U.S. Real Estate ETF	66,435	2,699,918
Vanguard Health Care ETF	26,293	6,427,061
Vanguard Information Technology ETF	12,497	5,559,665
Vanguard Materials ETF	29,631	5,407,065
Vanguard Real Estate ETF	97,866	8,062,201
Vanguard S&P 500 ETF	106,023	43,875,498
Fixed income - 19.3%
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	71,225	1,789,884
Vanguard Emerging Markets Government Bond ETF	277,318	17,066,150
Vanguard Intermediate-Term Corporate Bond ETF	618,682	48,436,616
Vanguard Total Bond Market ETF	632,551	45,385,534
Xtrackers USD High Yield Corporate Bond ETF	506,388	17,521,025

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $357,007,183)		$366,447,321
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	8,783	0
ICA Gruppen AB (C)(D)	377	0
Health care - 0.0%
NMC Health PLC (D)	276	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	1,171	3,528
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	35,571	975

TOTAL COMMON STOCKS (Cost $8,869)		$4,503

2035 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value

U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 4.8%
U.S. Government - 4.8%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$17,453,500	$5,440,031
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	33,576,500	10,610,727
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	31,562,100	10,366,056
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	17,262,000	5,889,774

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $40,788,905)		$32,306,588
SHORT-TERM INVESTMENTS - 0.2%
Short-term funds - 0.2%
John Hancock Collateral Trust, 5.4789% (F)(G)	174,369	1,743,098

TOTAL SHORT-TERM INVESTMENTS (Cost $1,743,026)		$1,743,098
Total investments (Cost $676,312,302) - 100.1%		$676,932,722
Other assets and liabilities, net - (0.1%)		(782,667)
TOTAL NET ASSETS - 100.0%		$676,150,055

2030 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 35.8%
Equity - 35.8%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	11,837,911	$109,737,431
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	14,014,066	134,535,029

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $245,057,321)		$244,272,460
UNAFFILIATED INVESTMENT COMPANIES - 58.5%
Equity - 30.4%
Fidelity Mid Cap Index Fund	1,735,162	49,053,020
Fidelity Small Cap Index Fund	656,658	15,490,571
Financial Select Sector SPDR Fund	137,601	4,730,722
iShares Global Infrastructure ETF	81,649	3,710,131
iShares MSCI Global Min Vol Factor ETF	242,657	23,666,337
Vanguard Dividend Appreciation ETF	97,452	15,894,421
Vanguard Energy ETF (H)	91,512	11,405,141
Vanguard FTSE All World ex-US Small-Cap ETF (H)	92,443	10,306,470
Vanguard FTSE Developed Markets ETF	310,702	14,214,617
Vanguard FTSE Emerging Markets ETF	189,753	7,690,689
Vanguard Global ex-U.S. Real Estate ETF	93,377	3,794,841
Vanguard Health Care ETF	26,702	6,527,037
Vanguard Information Technology ETF	10,978	4,883,893
Vanguard Materials ETF	41,507	7,574,197
Vanguard Real Estate ETF	137,528	11,329,557
Vanguard S&P 500 ETF	42,703	17,671,782
Fixed income - 28.1%
Invesco Senior Loan ETF (H)	256,908	5,418,190
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	157,479	3,957,447

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

2030 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value
Fixed income - (continued)
Vanguard Emerging Markets Government Bond ETF	375,122	$23,085,008
Vanguard Intermediate-Term Corporate Bond ETF	816,418	63,917,366
Vanguard Short-Term Corporate Bond ETF	171,314	12,985,601
Vanguard Total Bond Market ETF	813,299	58,354,203
Xtrackers USD High Yield Corporate Bond ETF (H)	692,034	23,944,376

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $399,068,207)		$399,605,617
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	7,871	0
ICA Gruppen AB (C)(D)	338	0
Health care - 0.0%
NMC Health PLC (D)	247	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	1,050	3,162
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	31,878	874

TOTAL COMMON STOCKS (Cost $7,947)		$4,036
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 5.9%
U.S. Government - 5.9%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$362,322	352,604
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	1,699,234	1,620,628
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	1,151,677	1,080,124
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	2,327,310	2,152,080
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	1,109,758	1,068,272
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	18,355,700	5,721,235
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	35,321,400	11,162,144
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	33,207,400	10,906,428
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	18,176,500	6,201,800

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $50,970,795)		$40,265,315
SHORT-TERM INVESTMENTS - 3.6%
Short-term funds - 3.6%
John Hancock Collateral Trust, 5.4789% (F)(I)	2,484,527	24,836,822

TOTAL SHORT-TERM INVESTMENTS (Cost $24,833,518)		$24,836,822
Total investments (Cost $719,937,788) - 103.8%		$708,984,250
Other assets and liabilities, net - (3.8%)		(25,844,168)
TOTAL NET ASSETS - 100.0%		$683,140,082

2025 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 27.1%
Equity - 27.1%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	7,557,209	$70,055,324
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	8,280,631	79,494,057

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $149,785,907)		$149,549,381
UNAFFILIATED INVESTMENT COMPANIES - 66.1%
Equity - 27.5%
Fidelity Mid Cap Index Fund	1,073,131	30,337,408
Fidelity Small Cap Index Fund	405,838	9,573,726
Financial Select Sector SPDR Fund	96,344	3,312,307
iShares Global Infrastructure ETF	85,120	3,867,853
iShares MSCI Global Min Vol Factor ETF	254,091	24,781,495
Vanguard Dividend Appreciation ETF	102,077	16,648,759
Vanguard Energy ETF (H)	93,161	11,610,655
Vanguard FTSE All World ex-US Small-Cap ETF	62,504	6,968,571
Vanguard FTSE Developed Markets ETF	241,120	11,031,240
Vanguard FTSE Emerging Markets ETF	53,973	2,187,526
Vanguard Global ex-U.S. Real Estate ETF	96,541	3,923,426
Vanguard Health Care ETF (H)	19,729	4,822,557
Vanguard Information Technology ETF	7,571	3,368,186
Vanguard Materials ETF	43,101	7,865,070
Vanguard Real Estate ETF	142,249	11,718,473
Fixed income - 38.6%
Invesco Senior Loan ETF (H)	374,306	7,894,114
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	159,688	4,012,959
Vanguard Emerging Markets Government Bond ETF	388,318	23,897,090
Vanguard Intermediate-Term Corporate Bond ETF	895,933	70,142,597
Vanguard Short-Term Corporate Bond ETF	272,868	20,683,394
Vanguard Total Bond Market ETF	855,767	61,401,282
Xtrackers USD High Yield Corporate Bond ETF	720,119	24,916,117

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $370,191,891)		$364,964,805
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	5,304	0
ICA Gruppen AB (C)(D)	228	0
Health care - 0.0%
NMC Health PLC (D)	166	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	707	2,130
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	21,481	589

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

2025 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value

TOTAL COMMON STOCKS (Cost $5,355)		$2,719
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 6.8%
U.S. Government - 6.8%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$778,093	$757,222
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	3,650,277	3,481,416
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	2,486,459	2,331,978
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	5,024,696	4,646,371
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	2,382,964	2,293,882
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	12,936,700	4,032,203
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	24,899,700	7,868,715
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	23,413,000	7,689,617
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	12,822,000	4,374,851

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $45,683,259)		$37,476,255
SHORT-TERM INVESTMENTS - 2.3%
Short-term funds - 2.3%
John Hancock Collateral Trust, 5.4789% (F)(I)	1,296,702	12,962,612

TOTAL SHORT-TERM INVESTMENTS (Cost $12,959,517)		$12,962,612
Total investments (Cost $578,625,929) - 102.3%		$564,955,772
Other assets and liabilities, net - (2.3%)		(12,858,233)
TOTAL NET ASSETS - 100.0%		$552,097,539

2020 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 18.3%
Equity - 18.3%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	2,397,379	$22,223,701
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	2,816,098	27,034,543

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $48,761,247)		$49,258,244
UNAFFILIATED INVESTMENT COMPANIES - 74.5%
Equity - 27.6%
Fidelity Mid Cap Index Fund	384,862	10,880,052
Fidelity Small Cap Index Fund	145,554	3,433,616
Financial Select Sector SPDR Fund	47,064	1,618,060
iShares Global Infrastructure ETF	44,183	2,007,676
iShares MSCI Global Min Vol Factor ETF	131,801	12,854,552
Vanguard Dividend Appreciation ETF	52,727	8,599,774
Vanguard Energy ETF (H)	48,692	6,068,484
Vanguard FTSE All World ex-US Small-Cap ETF (H)	24,263	2,705,082
Vanguard FTSE Developed Markets ETF	189,367	8,663,540

2020 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
Vanguard FTSE Emerging Markets ETF	40,492	$1,641,141
Vanguard Global ex-U.S. Real Estate ETF	49,870	2,026,717
Vanguard Health Care ETF (H)	9,005	2,201,182
Vanguard Information Technology ETF (H)	3,669	1,632,265
Vanguard Materials ETF	22,238	4,057,990
Vanguard Real Estate ETF	73,392	6,046,033
Fixed income - 46.9%
Invesco Senior Loan ETF (H)	262,558	5,537,348
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	79,803	2,005,449
Vanguard Emerging Markets Government Bond ETF	211,937	13,042,603
Vanguard Intermediate-Term Corporate Bond ETF	530,535	41,535,583
Vanguard Short-Term Corporate Bond ETF	202,032	15,314,026
Vanguard Total Bond Market ETF	496,371	35,614,619
Xtrackers USD High Yield Corporate Bond ETF	390,313	13,504,830

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $206,396,743)		$200,990,622
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	1,639	0
ICA Gruppen AB (C)(D)	70	0
Health care - 0.0%
NMC Health PLC (D)	51	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	219	658
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	6,637	182

TOTAL COMMON STOCKS (Cost $1,655)		$840
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 7.3%
U.S. Government - 7.3%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$614,406	597,926
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	2,879,497	2,746,293
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	1,988,795	1,865,233
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	4,019,929	3,717,257
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	1,878,075	1,807,867
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	4,824,100	1,503,610
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	9,285,500	2,934,371
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	8,731,700	2,867,784
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	4,781,300	1,631,374

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $23,243,715)		$19,671,715

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

2020 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value

SHORT-TERM INVESTMENTS - 3.3%
Short-term funds - 3.3%
John Hancock Collateral Trust, 5.4789% (F)(I)	903,566	$9,032,588

TOTAL SHORT-TERM INVESTMENTS (Cost $9,031,004)		$9,032,588
Total investments (Cost $287,434,364) - 103.4%		$278,954,009
Other assets and liabilities, net - (3.4%)		(9,232,847)
TOTAL NET ASSETS - 100.0%		$269,721,162

2015 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 16.3%
Equity - 16.3%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	551,667	$5,113,956
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	799,470	7,674,914

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $12,326,463)		$12,788,870
UNAFFILIATED INVESTMENT COMPANIES - 76.0%
Equity - 23.4%
Fidelity Mid Cap Index Fund	79,127	2,236,930
Fidelity Small Cap Index Fund	29,945	706,399
iShares Global Infrastructure ETF	12,854	584,086
iShares MSCI Global Min Vol Factor ETF	38,285	3,733,936
Vanguard Dividend Appreciation ETF	15,441	2,518,427
Vanguard Energy ETF (H)	14,286	1,780,464
Vanguard FTSE All World ex-US Small-Cap ETF (H)	5,323	593,461
Vanguard FTSE Developed Markets ETF	56,531	2,586,293
Vanguard Global ex-U.S. Real Estate ETF	14,654	595,539
Vanguard Materials ETF	6,526	1,190,864
Vanguard Real Estate ETF	21,565	1,776,525
Fixed income - 52.6%
Invesco Senior Loan ETF (H)	98,378	2,074,792
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	24,293	610,483
Vanguard Emerging Markets Government Bond ETF	64,761	3,985,392
Vanguard Intermediate-Term Corporate Bond ETF	170,342	13,336,077
Vanguard Short-Term Corporate Bond ETF	77,953	5,908,837
Vanguard Total Bond Market ETF	156,425	11,223,494
Xtrackers USD High Yield Corporate Bond ETF	119,782	4,144,457

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $61,286,658)		$59,586,456
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	424	0
ICA Gruppen AB (C)(D)	18	0

2015 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value
Health care - 0.0%
NMC Health PLC (D)	13	$0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	56	170
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	1,716	47

TOTAL COMMON STOCKS (Cost $427)		$217
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 7.8%
U.S. Government - 7.8%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$248,486	241,821
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	1,163,728	1,109,894
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	810,129	759,797
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	1,636,757	1,513,520
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	758,655	730,294
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	961,000	299,531
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	1,850,100	584,662
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	1,739,500	571,310
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	952,500	324,992

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $6,994,032)		$6,135,821
SHORT-TERM INVESTMENTS - 5.7%
Short-term funds - 5.7%
John Hancock Collateral Trust, 5.4789% (F)(I)	449,520	4,493,675

TOTAL SHORT-TERM INVESTMENTS (Cost $4,492,591)		$4,493,675
Total investments (Cost $85,100,171) - 105.8%		$83,005,039
Other assets and liabilities, net - (5.8%)		(4,529,816)
TOTAL NET ASSETS - 100.0%		$78,475,223

2010 LIFETIME BLEND PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 12.0%
Equity - 12.0%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	324,237	$3,005,681
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	431,123	4,138,780

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $6,859,258)		$7,144,461
UNAFFILIATED INVESTMENT COMPANIES - 79.9%
Equity - 21.1%
Fidelity Mid Cap Index Fund	34,965	988,452
Fidelity Small Cap Index Fund	13,230	312,096

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

2010 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
iShares Global Infrastructure ETF	9,660	$438,950
iShares MSCI Global Min Vol Factor ETF	28,976	2,826,029
Vanguard Dividend Appreciation ETF	11,577	1,888,209
Vanguard Energy ETF	10,735	1,337,903
Vanguard FTSE All World ex-US Small-Cap ETF	2,652	295,671
Vanguard FTSE Developed Markets ETF	38,674	1,769,336
Vanguard Global ex-U.S. Real Estate ETF	10,903	443,098
Vanguard Materials ETF	4,864	887,583
Vanguard Real Estate ETF	16,076	1,324,341
Fixed income - 58.8%
Invesco Senior Loan ETF (H)	92,444	1,949,644
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (H)	19,402	487,572
Vanguard Emerging Markets Government Bond ETF	51,380	3,161,925
Vanguard Intermediate-Term Corporate Bond ETF	141,574	11,083,829
Vanguard Short-Term Corporate Bond ETF	74,381	5,638,080
Vanguard Total Bond Market ETF	128,416	9,213,848
Xtrackers USD High Yield Corporate Bond ETF	95,518	3,304,923

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $48,304,156)		$47,351,489
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (C)(D)	225	0
ICA Gruppen AB (C)(D)	10	0
Health care - 0.0%
NMC Health PLC (D)	7	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (C)(D)(E)	30	90
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (C)(D)	911	25

TOTAL COMMON STOCKS (Cost $227)		$115
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 8.0%
U.S. Government - 8.0%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$233,454	227,192
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	1,095,697	1,045,010
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	742,657	696,517
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	1,500,936	1,387,926
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	715,326	688,586
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	362,800	113,080
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	698,900	220,864
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	657,000	215,781

2010 LIFETIME BLEND PORTFOLIO (continued)

	Shares or Principal Amount	Value
U.S. Government - (continued)
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	359,500	$122,661

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $5,216,817)		$4,717,617
SHORT-TERM INVESTMENTS - 4.2%
Short-term funds - 4.2%
John Hancock Collateral Trust, 5.4789% (F)(I)	249,996	2,499,111

TOTAL SHORT-TERM INVESTMENTS (Cost $2,498,448)		$2,499,111
Total investments (Cost $62,878,906) - 104.1%		$61,712,793
Other assets and liabilities, net - (4.1%)		(2,426,404)
TOTAL NET ASSETS - 100.0%		$59,286,389

Percentages are based upon net assets.

Currency Abbreviations

Security Abbreviations and Legend

JHF II	John Hancock Funds II
MIM US	Manulife Investment Management (US) LLC
PO	Principal-Only Security - (Principal Tranche of Stripped Security). Rate shown is the annualized yield on date of purchase.
STRIPS	Separate Trading of Registered Interest and Principal Securities
(A)	The underlying funds’ subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.
(C)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(D)	Non-income producing.
(E)	These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(F)	The rate shown is the annualized seven-day yield as of 8-31-23.
(G)	Investment is an affiliate of the fund, the advisor and/or subadvisor.
(H)	All or a portion of this security is on loan as of 8-31-23.
(I)	Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

Financial statements

STATEMENTS OF ASSETS AND LIABILITIES 8-31-23

	2065 Lifetime Blend Portfolio	2060 Lifetime Blend Portfolio	2055 Lifetime Blend Portfolio	2050 Lifetime Blend Portfolio
Assets
Unaffiliated investments, at value (including securites loaned)	$20,297,151	$80,065,147	$144,340,899	$190,404,670
Affiliated investments, at value	22,539,466	87,987,675	160,574,952	209,084,883
Total investments, at value	42,836,617	168,052,822	304,915,851	399,489,553
Dividends and interest receivable	3,334	23,953	49,894	68,652
Receivable for fund shares sold	81,754	244,988	328,174	405,485
Receivable for investments sold	974	—	283,625	—
Receivable for securities lending income	—	60	319	193
Receivable from affiliates	963	2,058	3,213	4,034
Other assets	37,009	32,296	40,198	39,505
Total assets	42,960,651	168,356,177	305,621,274	400,007,422
Liabilities
Payable for investments purchased	303,477	322,124	337,302	384,994
Payable for fund shares repurchased	2,646	61,096	154,273	428,828
Payable upon return of securities loaned	—	—	2,003,056	—
Payable to affiliates
Accounting and legal services fees	1,967	8,067	14,780	19,463
Transfer agent fees	317	2,460	5,257	7,740
Distribution and service fees	37	256	479	658
Trustees’ fees	3	11	20	27
Other liabilities and accrued expenses	13,167	15,109	17,020	18,311
Total liabilities	321,614	409,123	2,532,187	860,021
Net assets	$42,639,037	$167,947,054	$303,089,087	$399,147,401
Net assets consist of
Paid-in capital	$42,149,330	$166,868,575	$302,226,184	$399,668,520
Total distributable earnings (loss)	489,707	1,078,479	862,903	(521,119)
Net assets	$42,639,037	$167,947,054	$303,089,087	$399,147,401
Unaffiliated investments, at cost	$19,846,616	$76,119,358	$135,512,373	$178,691,495
Affiliated investments, at cost	21,747,608	86,201,490	158,188,977	205,926,486
Total investments, at cost	41,594,224	162,320,848	293,701,350	384,617,981
Securities loaned, at value	—	—	$1,963,632	—
Net asset value per share
The portfolios have an unlimited number of shares authorized with no par value. 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	$3,032,013	$23,627,728	$50,736,058	$75,210,734
Shares outstanding	249,541	1,752,452	4,113,793	6,028,361
Net asset value and redemption price per share	$12.15	$13.48	$12.33	$12.48
Class R4
Net assets	$475,955	$3,050,116	$5,676,667	$7,786,543
Shares outstanding	39,187	226,259	461,186	624,865
Net asset value, offering price and redemption price per share	$12.15	$13.48	$12.31	$12.46
Class R6
Net assets	$4,302,950	$33,344,287	$53,947,291	$74,465,315
Shares outstanding	354,173	2,471,866	4,377,694	5,974,811
Net asset value, offering price and redemption price per share	$12.15	$13.49	$12.32	$12.46
Class 1
Net assets	$34,828,119	$107,924,923	$192,729,071	$241,684,809
Shares outstanding	2,864,519	7,999,964	15,627,685	19,372,657
Net asset value, offering price and redemption price per share	$12.16	$13.49	$12.33	$12.48
Maximum offering price per share
Class A (net asset value per share ÷ 95%)²	$12.79	$14.19	$12.98	$13.14


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.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES 8-31-23

Continued

	2045 Lifetime Blend Portfolio	2040 Lifetime Blend Portfolio	2035 Lifetime Blend Portfolio	2030 Lifetime Blend Portfolio
Assets
Unaffiliated investments, at value (including securites loaned)	$246,635,030	$302,411,702	$398,758,412	$439,874,968
Affiliated investments, at value	258,695,060	257,075,713	278,174,310	269,109,282
Total investments, at value	505,330,090	559,487,415	676,932,722	708,984,250
Dividends and interest receivable	87,664	85,937	92,849	90,547
Receivable for fund shares sold	446,423	494,781	800,147	700,982
Receivable for investments sold	414	124	622	546,881
Receivable for securities lending income	1,083	263	1,832	7,618
Receivable from affiliates	4,937	5,439	6,501	6,552
Other assets	43,078	42,128	47,659	47,247
Total assets	505,913,689	560,116,087	677,882,332	710,384,077
Liabilities
Payable for investments purchased	658,708	862,169	1,619,066	719,642
Payable for fund shares repurchased	94,272	734,225	46,539	2,466,129
Payable upon return of securities loaned	1,425,996	—	—	23,989,214
Payable to affiliates
Accounting and legal services fees	24,758	27,530	33,243	33,743
Transfer agent fees	9,728	10,017	11,584	13,069
Distribution and service fees	667	671	968	1,026
Trustees’ fees	34	37	45	46
Other liabilities and accrued expenses	18,871	19,403	20,832	21,126
Total liabilities	2,233,034	1,654,052	1,732,277	27,243,995
Net assets	$503,680,655	$558,462,035	$676,150,055	$683,140,082
Net assets consist of
Paid-in capital	$505,946,414	$566,237,709	$693,937,010	$710,784,199
Total distributable earnings (loss)	(2,265,759)	(7,775,674)	(17,786,955)	(27,644,117)
Net assets	$503,680,655	$558,462,035	$676,150,055	$683,140,082
Unaffiliated investments, at cost	$233,268,738	$293,251,449	$397,804,957	$450,046,949
Affiliated investments, at cost	256,809,042	256,634,933	278,507,345	269,890,839
Total investments, at cost	490,077,780	549,886,382	676,312,302	719,937,788
Securities loaned, at value	$1,397,742	—	—	$23,473,288
Net asset value per share
The portfolios have an unlimited number of shares authorized with no par value. 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	$94,672,924	$97,674,091	$113,951,169	$125,637,133
Shares outstanding	7,768,374	8,186,197	9,911,703	11,384,884
Net asset value and redemption price per share	$12.19	$11.93	$11.50	$11.04
Class R4
Net assets	$7,908,683	$7,571,518	$11,483,968	$12,186,767
Shares outstanding	650,439	634,732	999,183	1,104,500
Net asset value, offering price and redemption price per share	$12.16	$11.93	$11.49	$11.03
Class R6
Net assets	$90,643,920	$111,762,264	$136,675,646	$155,731,941
Shares outstanding	7,431,395	9,363,567	11,881,634	14,099,705
Net asset value, offering price and redemption price per share	$12.20	$11.94	$11.50	$11.05
Class 1
Net assets	$310,455,128	$341,454,162	$414,039,272	$389,584,241
Shares outstanding	25,468,666	28,613,031	35,985,518	35,296,365
Net asset value, offering price and redemption price per share	$12.19	$11.93	$11.51	$11.04
Maximum offering price per share
Class A (net asset value per share ÷ 95%)²	$12.83	$12.56	$12.11	$11.62


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

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

STATEMENTS OF ASSETS AND LIABILITIES 8-31-23

Continued

	2025 Lifetime Blend Portfolio	2020 Lifetime Blend Portfolio	2015 Lifetime Blend Portfolio	2010 Lifetime Blend Portfolio
Assets
Unaffiliated investments, at value (including securites loaned)	$402,443,779	$220,663,177	$65,722,494	$52,069,221
Affiliated investments, at value	162,511,993	58,290,832	17,282,545	9,643,572
Total investments, at value	564,955,772	278,954,009	83,005,039	61,712,793
Dividends and interest receivable	70,633	30,226	9,839	7,687
Receivable for fund shares sold	145,084	65,482	11,024	102,082
Receivable for investments sold	117,245	238,252	61,524	82,087
Receivable for securities lending income	6,705	3,040	1,340	967
Receivable from affiliates	5,156	2,801	1,249	1,099
Other assets	45,951	32,882	23,470	20,888
Total assets	565,346,546	279,326,692	83,113,485	61,927,603
Liabilities
Due to custodian	119,462	326,340	—	—
Payable for investments purchased	—	—	56,151	299,317
Payable for fund shares repurchased	45,605	180,387	176,293	223
Payable upon return of securities loaned	13,020,411	9,059,284	4,385,362	2,323,888
Payable to affiliates
Accounting and legal services fees	27,800	13,634	3,995	2,917
Transfer agent fees	15,591	9,471	2,642	1,056
Distribution and service fees	523	296	44	11
Trustees’ fees	38	18	5	4
Other liabilities and accrued expenses	19,577	16,100	13,770	13,798
Total liabilities	13,249,007	9,605,530	4,638,262	2,641,214
Net assets	$552,097,539	$269,721,162	$78,475,223	$59,286,389
Net assets consist of
Paid-in capital	$581,096,282	$285,240,485	$83,099,598	$62,881,074
Total distributable earnings (loss)	(28,998,743)	(15,519,323)	(4,624,375)	(3,594,685)
Net assets	$552,097,539	$269,721,162	$78,475,223	$59,286,389
Unaffiliated investments, at cost	$415,880,505	$229,642,113	$68,281,117	$53,521,200
Affiliated investments, at cost	162,745,424	57,792,251	16,819,054	9,357,706
Total investments, at cost	578,625,929	287,434,364	85,100,171	62,878,906
Securities loaned, at value	$12,761,112	$8,879,011	$4,298,113	$2,277,500
Net asset value per share
The portfolios have an unlimited number of shares authorized with no par value. 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	$150,549,960	$92,503,825	$25,675,228	$10,298,288
Shares outstanding	14,240,483	9,114,339	2,629,923	1,079,046
Net asset value and redemption price per share	$10.57	$10.15	$9.76	$9.54
Class R4
Net assets	$6,191,839	$3,448,279	$523,697	$113,049
Shares outstanding	586,054	340,033	53,685	11,857
Net asset value, offering price and redemption price per share	$10.57	$10.14	$9.75	$9.53
Class R6
Net assets	$117,355,850	$53,406,742	$18,648,278	$10,671,685
Shares outstanding	11,092,095	5,253,561	1,907,756	1,117,074
Net asset value, offering price and redemption price per share	$10.58	$10.17	$9.77	$9.55
Class 1
Net assets	$277,999,891	$120,362,316	$33,628,020	$38,203,367
Shares outstanding	26,301,134	11,855,724	3,442,028	4,002,467
Net asset value, offering price and redemption price per share	$10.57	$10.15	$9.77	$9.54
Maximum offering price per share
Class A (net asset value per share ÷ 95%)²	$11.13	$10.68	$10.27	$10.04


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.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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Table of Contents

STATEMENTS OF OPERATIONS For the year ended 8-31-23

	2065 Lifetime Blend Portfolio	2060 Lifetime Blend Portfolio	2055 Lifetime Blend Portfolio	2050 Lifetime Blend Portfolio
Investment income
Dividends from unaffiliated investments	$242,735	$1,291,497	$2,504,294	$3,378,998
Dividends from affiliated investments	182,044	1,091,647	2,161,354	2,933,115
Interest	19,003	99,043	214,560	288,354
Securities lending	—	3,852	5,257	18,223
Total investment income	443,782	2,486,039	4,885,465	6,618,690
Expenses
Investment management fees	77,177	379,291	727,639	973,614
Distribution and service fees	19,233	103,501	210,214	296,255
Accounting and legal services fees	5,861	28,880	55,429	74,119
Transfer agent fees	2,473	22,489	48,435	73,405
Trustees’ fees	578	3,257	6,410	8,657
Custodian fees	27,752	27,752	27,752	27,752
State registration fees	56,575	55,551	60,306	63,944
Printing and postage	14,041	12,898	13,607	14,245
Professional fees	35,315	45,009	50,153	53,829
Other	13,109	18,005	22,933	25,853
Total expenses	252,114	696,633	1,222,878	1,611,673
Less expense reductions	(228,742)	(560,235)	(944,131)	(1,215,201)
Net expenses	23,372	136,398	278,747	396,472
Net investment income	420,410	2,349,641	4,606,718	6,222,218
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments	(367,012)	(3,144,340)	(6,655,763)	(9,733,129)
Affiliated investments	(146,005)	(2,103,487)	(4,673,238)	(6,937,471)
Capital gain distributions received from affiliated investments	109,774	659,166	1,296,650	1,768,182
	(403,243)	(4,588,661)	(10,032,351)	(14,902,418)
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments	1,271,109	7,185,673	14,038,296	19,397,886
Affiliated investments	1,838,036	9,668,819	18,791,762	25,441,343
	3,109,145	16,854,492	32,830,058	44,839,229
Net realized and unrealized gain	2,705,902	12,265,831	22,797,707	29,936,811
Increase in net assets from operations	$3,126,312	$14,615,472	$27,404,425	$36,159,029

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ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

STATEMENTS OF OPERATIONS For the year ended 8-31-23

Continued

	2045 Lifetime Blend Portfolio	2040 Lifetime Blend Portfolio	2035 Lifetime Blend Portfolio	2030 Lifetime Blend Portfolio
Investment income
Dividends from unaffiliated investments	$4,515,041	$5,760,315	$8,139,359	$9,899,446
Dividends from affiliated investments	3,607,409	3,417,792	3,673,282	3,154,527
Interest	452,834	810,136	1,297,204	1,605,057
Securities lending	11,245	28,194	37,552	175,435
Total investment income	8,586,529	10,016,437	13,147,397	14,834,465
Expenses
Investment management fees	1,254,624	1,463,568	1,875,301	2,032,292
Distribution and service fees	369,392	396,918	470,056	503,244
Accounting and legal services fees	93,743	101,162	120,982	121,876
Transfer agent fees	90,620	93,554	106,162	120,386
Trustees’ fees	10,901	11,563	13,706	13,689
Custodian fees	27,752	27,752	27,752	29,877
State registration fees	64,711	66,833	66,896	66,727
Printing and postage	13,096	12,860	13,016	12,955
Professional fees	57,604	58,981	62,813	62,960
Other	27,658	25,879	26,971	26,475
Total expenses	2,010,101	2,259,070	2,783,655	2,990,481
Less expense reductions	(1,498,359)	(1,612,779)	(1,916,131)	(1,928,663)
Net expenses	511,742	646,291	867,524	1,061,818
Net investment income	8,074,787	9,370,146	12,279,873	13,772,647
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments	(12,449,197)	(14,033,416)	(17,447,851)	(17,301,411)
Affiliated investments	(6,916,573)	(4,271,500)	(3,064,014)	(1,773,753)
Capital gain distributions received from affiliated investments	2,163,701	2,065,180	2,199,476	1,858,323
	(17,202,069)	(16,239,736)	(18,312,389)	(17,216,841)
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments	23,610,818	22,911,909	23,464,925	18,035,805
Affiliated investments	30,211,651	27,599,663	28,559,977	24,503,953
	53,822,469	50,511,572	52,024,902	42,539,758
Net realized and unrealized gain	36,620,400	34,271,836	33,712,513	25,322,917
Increase in net assets from operations	$44,695,187	$43,641,982	$45,992,386	$39,095,564

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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Table of Contents

STATEMENTS OF OPERATIONS For the year ended 8-31-23

Continued

	2025 Lifetime Blend Portfolio	2020 Lifetime Blend Portfolio	2015 Lifetime Blend Portfolio	2010 Lifetime Blend Portfolio
Investment income
Dividends from unaffiliated investments	$10,254,225	$5,992,204	$1,854,914	$1,410,350
Dividends from affiliated investments	2,156,442	687,992	183,268	98,267
Interest	1,496,627	744,975	220,671	154,323
Securities lending	190,621	146,918	49,126	44,425
Total investment income	14,097,915	7,572,089	2,307,979	1,707,365
Expenses
Investment management fees	1,889,690	1,034,617	306,284	225,977
Distribution and service fees	512,869	298,394	80,416	41,523
Accounting and legal services fees	102,322	50,365	14,699	10,342
Transfer agent fees	144,901	91,944	25,165	9,618
Trustees’ fees	11,684	5,759	1,678	1,167
Custodian fees	29,252	29,252	29,252	29,252
State registration fees	65,257	61,099	53,691	55,177
Printing and postage	13,141	11,387	10,140	10,362
Professional fees	59,256	49,162	42,268	41,455
Other	22,963	19,764	18,501	16,927
Total expenses	2,851,335	1,651,743	582,094	441,800
Less expense reductions	(1,581,383)	(835,689)	(339,165)	(284,998)
Net expenses	1,269,952	816,054	242,929	156,802
Net investment income	12,827,963	6,756,035	2,065,050	1,550,563
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments	(16,223,387)	(6,945,330)	(2,292,696)	(2,108,680)
Affiliated investments	(2,303,040)	(1,112,882)	(417,772)	(257,680)
Capital gain distributions received from affiliated investments	1,267,271	403,680	107,297	53,018
	(17,259,156)	(7,654,532)	(2,603,171)	(2,313,342)
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments	15,126,050	6,640,738	2,134,613	2,034,623
Affiliated investments	16,832,351	5,811,340	1,780,042	929,697
	31,958,401	12,452,078	3,914,655	2,964,320
Net realized and unrealized gain	14,699,245	4,797,546	1,311,484	650,978
Increase in net assets from operations	$27,527,208	$11,553,581	$3,376,534	$2,201,541

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ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

	2065 Lifetime Blend Portfolio		2060 Lifetime Blend Portfolio		2055 Lifetime Blend Portfolio
	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22
Increase (decrease) in net assets
From operations
Net investment income	$420,410	$161,775	$2,349,641	$1,583,214	$4,606,718	$3,444,589
Net realized gain (loss)	(403,243)	(329,390)	(4,588,661)	7,456,888	(10,032,351)	18,633,191
Change in net unrealized appreciation (depreciation)	3,109,145	(2,269,978)	16,854,492	(27,512,088)	32,830,058	(61,055,953)
Increase (decrease) in net assets resulting from operations	3,126,312	(2,437,593)	14,615,472	(18,471,986)	27,404,425	(38,978,173)
Distributions to shareholders
From earnings
Class A	(19,743)	(8,818)	(851,383)	(288,337)	(2,254,756)	(730,576)
Class R4	(4,727)	(5,110)	(139,187)	(91,759)	(344,963)	(278,803)
Class R6	(11,283)	(6,384)	(2,342,254)	(1,368,847)	(5,771,830)	(3,597,228)
Class 1	(319,704)	(242,944)	(4,888,811)	(3,591,110)	(11,181,753)	(8,121,327)
Total distributions	(355,457)	(263,256)	(8,221,635)	(5,340,053)	(19,553,302)	(12,727,934)
Portfolio share transactions
From portfolio share transactions	21,878,944	14,494,808	44,068,094	47,132,290	57,036,524	78,154,676
Total increase	24,649,799	11,793,959	50,461,931	23,320,251	64,887,647	26,448,569
Net assets
Beginning of year	17,989,238	6,195,279	117,485,123	94,164,872	238,201,440	211,752,871
End of year	$42,639,037	$17,989,238	$167,947,054	$117,485,123	$303,089,087	$238,201,440

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

Continued

	2050 Lifetime Blend Portfolio		2045 Lifetime Blend Portfolio		2040 Lifetime Blend Portfolio
	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22
Increase (decrease) in net assets
From operations
Net investment income	$6,222,218	$4,577,802	$8,074,787	$6,114,579	$9,370,146	$6,937,831
Net realized gain (loss)	(14,902,418)	24,382,624	(17,202,069)	32,249,310	(16,239,736)	32,444,070
Change in net unrealized appreciation (depreciation)	44,839,229	(81,620,188)	53,822,469	(106,587,509)	50,511,572	(110,904,814)
Increase (decrease) in net assets resulting from operations	36,159,029	(52,659,762)	44,695,187	(68,223,620)	43,641,982	(71,522,913)
Distributions to shareholders
From earnings
Class A	(3,292,512)	(1,127,671)	(4,316,129)	(1,353,614)	(4,330,814)	(1,583,119)
Class R4	(459,664)	(398,103)	(499,496)	(420,021)	(483,909)	(441,248)
Class R6	(7,914,662)	(5,684,275)	(9,799,538)	(7,215,567)	(8,136,302)	(6,380,074)
Class 1	(13,098,720)	(10,118,619)	(18,160,164)	(14,420,758)	(19,939,303)	(16,604,511)
Total distributions	(24,765,558)	(17,328,668)	(32,775,327)	(23,409,960)	(32,890,328)	(25,008,952)
Portfolio share transactions
From portfolio share transactions	63,725,505	116,546,813	82,479,328	128,098,886	111,565,169	141,614,031
Total increase	75,118,976	46,558,383	94,399,188	36,465,306	122,316,823	45,082,166
Net assets
Beginning of year	324,028,425	277,470,042	409,281,467	372,816,161	436,145,212	391,063,046
End of year	$399,147,401	$324,028,425	$503,680,655	$409,281,467	$558,462,035	$436,145,212

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ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

Continued

	2035 Lifetime Blend Portfolio		2030 Lifetime Blend Portfolio		2025 Lifetime Blend Portfolio
	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22
Increase (decrease) in net assets
From operations
Net investment income	$12,279,873	$8,908,567	$13,772,647	$10,649,862	$12,827,963	$9,843,164
Net realized gain (loss)	(18,312,389)	34,624,492	(17,216,841)	33,001,463	(17,259,156)	22,319,787
Change in net unrealized appreciation (depreciation)	52,024,902	(126,667,878)	42,539,758	(124,616,544)	31,958,401	(94,244,758)
Increase (decrease) in net assets resulting from operations	45,992,386	(83,134,819)	39,095,564	(80,965,219)	27,527,208	(62,081,807)
Distributions to shareholders
From earnings
Class A	(4,782,725)	(1,705,248)	(5,622,940)	(2,132,067)	(5,905,008)	(2,726,265)
Class R4	(662,378)	(592,118)	(741,644)	(674,010)	(350,594)	(439,487)
Class R6	(8,497,312)	(7,176,056)	(8,073,904)	(6,893,497)	(5,762,510)	(5,919,258)
Class 1	(23,951,005)	(19,771,865)	(24,258,898)	(22,558,522)	(15,775,618)	(18,101,006)
Total distributions	(37,893,420)	(29,245,287)	(38,697,386)	(32,258,096)	(27,793,730)	(27,186,016)
Portfolio share transactions
From portfolio share transactions	156,086,990	173,709,265	167,423,023	157,061,294	114,237,405	143,902,229
Total increase	164,185,956	61,329,159	167,821,201	43,837,979	113,970,883	54,634,406
Net assets
Beginning of year	511,964,099	450,634,940	515,318,881	471,480,902	438,126,656	383,492,250
End of year	$676,150,055	$511,964,099	$683,140,082	$515,318,881	$552,097,539	$438,126,656

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

Continued

	2020 Lifetime Blend Portfolio		2015 Lifetime Blend Portfolio		2010 Lifetime Blend Portfolio
	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22
Increase (decrease) in net assets
From operations
Net investment income	$6,756,035	$5,404,516	$2,065,050	$1,704,245	$1,550,563	$1,281,175
Net realized gain (loss)	(7,654,532)	7,739,387	(2,603,171)	1,357,422	(2,313,342)	845,249
Change in net unrealized appreciation (depreciation)	12,452,078	(41,416,327)	3,914,655	(10,815,205)	2,964,320	(6,919,687)
Increase (decrease) in net assets resulting from operations	11,553,581	(28,272,424)	3,376,534	(7,753,538)	2,201,541	(4,793,263)
Distributions to shareholders
From earnings
Class A	(3,189,277)	(1,931,447)	(817,369)	(426,685)	(405,522)	(128,277)
Class R4	(173,321)	(312,715)	(26,859)	(41,807)	(11,387)	(14,351)
Class R6	(2,418,735)	(3,413,680)	(707,085)	(1,240,663)	(318,850)	(433,284)
Class 1	(5,625,441)	(9,116,734)	(1,532,747)	(2,619,689)	(1,726,825)	(2,205,321)
Total distributions	(11,406,774)	(14,774,576)	(3,084,060)	(4,328,844)	(2,462,584)	(2,781,233)
Portfolio share transactions
From portfolio share transactions	51,074,592	62,831,773	14,741,350	18,493,300	14,793,265	11,618,341
Total increase	51,221,399	19,784,773	15,033,824	6,410,918	14,532,222	4,043,845
Net assets
Beginning of year	218,499,763	198,714,990	63,441,399	57,030,481	44,754,167	40,710,322
End of year	$269,721,162	$218,499,763	$78,475,223	$63,441,399	$59,286,389	$44,754,167

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

Financial highlights

2065 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2065 Lifetime Blend Portfolio
Class A
08-31-2023	11.15	0.13	1.00	1.13	(0.13)	—	(0.13)	12.15	10.32 ⁵	1.22	0.42	1.16	3,032	12
08-31-2022	13.52	0.07 ⁶	(2.16)	(2.09)	(0.12)	(0.16)	(0.28)	11.15	(15.86) ⁵	1.66	0.42	0.61	1,417	89
08-31-2021 ⁷	12.85	— ^{6, 8}	0.67	0.67	—	—	—	13.52	5.21 ^{5, 9}	8.46 ¹⁰	0.41 ¹⁰	0.06 ¹⁰	225	19 ¹¹
Class R4
08-31-2023	11.15	0.16	0.99	1.15	(0.15)	—	(0.15)	12.15	10.52	1.15	0.25	1.41	476	12
08-31-2022	13.51	0.15 ⁶	(2.21)	(2.06)	(0.14)	(0.16)	(0.30)	11.15	(15.66)	1.57	0.23	1.26	292	89
08-31-2021 ¹²	10.00	0.11 ⁶	3.50	3.61	(0.10)	—	(0.10)	13.51	36.28 ⁹	8.34 ¹⁰	0.19 ¹⁰	0.99 ¹⁰	204	19
Class R6
08-31-2023	11.15	0.12	1.06	1.18	(0.18)	—	(0.18)	12.15	10.78	0.82	0.01	1.01	4,303	12
08-31-2022	13.52	0.19 ⁶	(2.23)	(2.04)	(0.17)	(0.16)	(0.33)	11.15	(15.52)	1.25	0.01	1.61	410	89
08-31-2021 ¹²	10.00	0.17 ⁶	3.45	3.62	(0.10)	—	(0.10)	13.52	36.44 ⁹	8.06 ¹⁰	0.01 ¹⁰	1.52 ¹⁰	68	19
Class 1
08-31-2023	11.16	0.18	0.99	1.17	(0.17)	—	(0.17)	12.16	10.72	0.86	0.06	1.55	34,828	12
08-31-2022	13.52	0.16 ⁶	(2.19)	(2.03)	(0.17)	(0.16)	(0.33)	11.16	(15.48)	1.29	0.05	1.34	15,871	89
08-31-2021 ¹²	10.00	0.07 ⁶	3.55	3.62	(0.10)	—	(0.10)	13.52	36.42 ⁹	8.10 ¹⁰	0.05 ¹⁰	0.58 ¹⁰	5,699	19

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005 per share for the periods ended 8-31-22 and 8-31-21 and 0.01% and less than 0.005% for the period ended 8-31-22 and 8-31-21, respectively.

⁷ The inception date for Class A shares is 6-21-21.

⁸ Less than $0.005 per share.

⁹ Not annualized.

¹⁰ Annualized.

¹¹ Portfolio turnover is shown for the period from 9-23-20 to 8-31-21.

¹² Period from 9-23-20 (commencement of operations) to 8-31-21.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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Table of Contents

2060 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2060 Lifetime Blend Portfolio
Class A
08-31-2023	12.97	0.16	1.09	1.25	(0.16)	(0.58)	(0.74)	13.48	10.37 ⁵	0.82	0.42	1.23	23,628	25
08-31-2022	16.14	0.13 ⁶	(2.55)	(2.42)	(0.17)	(0.58)	(0.75)	12.97	(15.84) ⁵	0.84	0.42	0.94	10,978	81
08-31-2021 ⁷	15.35	(0.01)	0.80	0.79	—	—	—	16.14	5.15 ^{5, 8}	0.88 ⁹	0.41 ⁹	(0.24) ⁹	1,905	15 ¹⁰
Class R4
08-31-2023	12.97	0.19	1.08	1.27	(0.18)	(0.58)	(0.76)	13.48	10.55	0.76	0.27	1.46	3,050	25
08-31-2022	16.14	0.19 ⁶	(2.58)	(2.39)	(0.20)	(0.58)	(0.78)	12.97	(15.70)	0.78	0.26	1.31	2,006	81
08-31-2021	12.95	0.13	3.48	3.61	(0.18)	(0.24)	(0.42)	16.14	28.37	0.83	0.26	0.85	1,726	15
08-31-2020	12.06	0.13	1.59	1.72	(0.26)	(0.57)	(0.83)	12.95	14.56	1.02	0.24	1.16	376	32
08-31-2019	12.89	0.24 ⁶	(0.35)	(0.11)	(0.21)	(0.51)	(0.72)	12.06	(0.04)	1.00	0.16	1.97 ⁶	53	13
Class R6
08-31-2023	12.98	0.25	1.06	1.31	(0.22)	(0.58)	(0.80)	13.49	10.84	0.42	0.02	1.98	33,344	25
08-31-2022	16.16	0.22 ⁶	(2.59)	(2.37)	(0.23)	(0.58)	(0.81)	12.98	(15.54)	0.43	0.01	1.50	32,711	81
08-31-2021	12.96	0.19	3.46	3.65	(0.21)	(0.24)	(0.45)	16.16	28.68	0.48	0.01	1.31	23,276	15
08-31-2020	12.06	0.22	1.53	1.75	(0.28)	(0.57)	(0.85)	12.96	14.84	0.70	—	1.90	8,365	32
08-31-2019	12.90	0.22 ⁶	(0.32)	(0.10)	(0.23)	(0.51)	(0.74)	12.06	0.08	0.75	—	1.88 ⁶	2,758	13
Class 1
08-31-2023	12.98	0.21	1.09	1.30	(0.21)	(0.58)	(0.79)	13.49	10.78	0.46	0.06	1.65	107,925	25
08-31-2022	16.15	0.22 ⁶	(2.58)	(2.36)	(0.23)	(0.58)	(0.81)	12.98	(15.52)	0.47	0.05	1.52	71,791	81
08-31-2021	12.96	0.20	3.43	3.63	(0.20)	(0.24)	(0.44)	16.15	28.54	0.52	0.05	1.39	67,257	15
08-31-2020	12.06	0.25	1.50	1.75	(0.28)	(0.57)	(0.85)	12.96	14.77	0.73	0.05	2.08	36,437	32
08-31-2019	12.90	0.23 ⁶	(0.33)	(0.10)	(0.23)	(0.51)	(0.74)	12.06	0.03	0.78	0.05	1.92 ⁶	24,271	13

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005 per share for the periods ended 8-31-22 and 8-31-19 and 0.01% and 0.01% for the periods ended 8-31-22 and 8-31-19, respectively.

⁷ The inception date for Class A shares is 6-21-21.

⁸ Not annualized.

⁹ Annualized.

¹⁰ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

Financial highlights continued

2055 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2055 Lifetime Blend Portfolio
Class A
08-31-2023	12.04	0.14	0.99	1.13	(0.15)	(0.69)	(0.84)	12.33	10.29 ⁵	0.77	0.43	1.22	50,736	29
08-31-2022	15.05	0.13 ⁶	(2.37)	(2.24)	(0.16)	(0.61)	(0.77)	12.04	(15.78) ⁵	0.76	0.42	1.00	23,337	79
08-31-2021 ⁷	14.31	(0.01)	0.75	0.74	—	—	—	15.05	5.17 ^{5, 8}	0.76 ⁹	0.41 ⁹	(0.27) ⁹	4,336	15 ¹⁰
Class R4
08-31-2023	12.01	0.18	0.98	1.16	(0.17)	(0.69)	(0.86)	12.31	10.57	0.72	0.27	1.51	5,677	29
08-31-2022	15.03	0.18 ⁶	(2.41)	(2.23)	(0.18)	(0.61)	(0.79)	12.01	(15.73)	0.71	0.26	1.36	4,586	79
08-31-2021	12.15	0.15	3.21	3.36	(0.17)	(0.31)	(0.48)	15.03	28.26	0.71	0.26	1.11	5,128	15
08-31-2020	11.48	0.06	1.58	1.64	(0.25)	(0.72)	(0.97)	12.15	14.67	0.76	0.26	0.57	2,219	28
08-31-2019	12.71	0.23 ⁶	(0.40)	(0.17)	(0.23)	(0.83)	(1.06)	11.48	(0.14)	0.65	0.16	1.96 ⁶	52	18
Class R6
08-31-2023	12.03	0.25	0.93	1.18	(0.20)	(0.69)	(0.89)	12.32	10.77	0.37	0.02	2.09	53,947	29
08-31-2022	15.05	0.21 ⁶	(2.40)	(2.19)	(0.22)	(0.61)	(0.83)	12.03	(15.51)	0.36	0.01	1.56	69,354	79
08-31-2021	12.16	0.19	3.20	3.39	(0.19)	(0.31)	(0.50)	15.05	28.60	0.36	0.01	1.39	57,666	15
08-31-2020	11.48	0.23	1.44	1.67	(0.27)	(0.72)	(0.99)	12.16	14.95	0.42	—	2.04	24,431	28
08-31-2019	12.71	0.21 ⁶	(0.36)	(0.15)	(0.25)	(0.83)	(1.08)	11.48	0.06	0.40	—	1.86 ⁶	10,711	18
Class 1
08-31-2023	12.04	0.20	0.98	1.18	(0.20)	(0.69)	(0.89)	12.33	10.70	0.41	0.06	1.69	192,729	29
08-31-2022	15.06	0.21 ⁶	(2.40)	(2.19)	(0.22)	(0.61)	(0.83)	12.04	(15.53)	0.40	0.05	1.54	140,924	79
08-31-2021	12.16	0.19	3.21	3.40	(0.19)	(0.31)	(0.50)	15.06	28.63	0.40	0.05	1.42	144,622	15
08-31-2020	11.49	0.24	1.42	1.66	(0.27)	(0.72)	(0.99)	12.16	14.78	0.46	0.05	2.13	90,699	28
08-31-2019	12.72	0.23 ⁶	(0.39)	(0.16)	(0.24)	(0.83)	(1.07)	11.49	0.00 ¹¹	0.44	0.05	2.01 ⁶	71,469	18

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005 per share and 0.01% for the periods ended 8-31-22 and 8-31-19.

⁷ The inception date for Class A shares is 6-21-21.

⁸ Not annualized.

⁹ Annualized.

¹⁰ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

¹¹ Less than 0.005%.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

2050 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2050 Lifetime Blend Portfolio
Class A
08-31-2023	12.11	0.15	1.01	1.16	(0.16)	(0.63)	(0.79)	12.48	10.40 ⁵	0.76	0.43	1.28	75,211	32
08-31-2022	15.16	0.12 ⁶	(2.38)	(2.26)	(0.16)	(0.63)	(0.79)	12.11	(15.84) ⁵	0.75	0.42	0.91	37,655	80
08-31-2021 ⁷	14.41	(0.01)	0.76	0.75	—	—	—	15.16	5.20 ^{5, 8}	0.74 ⁹	0.41 ⁹	(0.28) ⁹	4,180	17 ¹⁰
Class R4
08-31-2023	12.10	0.18	0.99	1.17	(0.18)	(0.63)	(0.81)	12.46	10.49	0.70	0.27	1.53	7,787	32
08-31-2022	15.14	0.19 ⁶	(2.42)	(2.23)	(0.18)	(0.63)	(0.81)	12.10	(15.65)	0.69	0.26	1.36	6,648	80
08-31-2021	12.27	0.14	3.25	3.39	(0.17)	(0.35)	(0.52)	15.14	28.30	0.69	0.26	0.99	7,284	17
08-31-2020	11.61	0.10	1.56	1.66	(0.25)	(0.75)	(1.00)	12.27	14.61	0.73	0.26	0.95	2,351	30
08-31-2019	12.85	0.10 ⁶	(0.28)	(0.18)	(0.23)	(0.83)	(1.06)	11.61	(0.18)	0.68	0.24	0.87 ⁶	241	19
Class R6
08-31-2023	12.11	0.25	0.94	1.19	(0.21)	(0.63)	(0.84)	12.46	10.71	0.35	0.02	2.11	74,465	32
08-31-2022	15.15	0.21 ⁶	(2.40)	(2.19)	(0.22)	(0.63)	(0.85)	12.11	(15.43)	0.34	0.01	1.57	103,056	80
08-31-2021	12.28	0.19	3.23	3.42	(0.20)	(0.35)	(0.55)	15.15	28.55	0.34	0.01	1.42	94,579	17
08-31-2020	11.62	0.24	1.45	1.69	(0.28)	(0.75)	(1.03)	12.28	14.89	0.38	—	2.09	48,478	30
08-31-2019	12.85	0.23 ⁶	(0.38)	(0.15)	(0.25)	(0.83)	(1.08)	11.62	0.11	0.36	—	1.98 ⁶	26,188	19
Class 1
08-31-2023	12.11	0.20	1.00	1.20	(0.20)	(0.63)	(0.83)	12.48	10.82	0.40	0.06	1.69	241,685	32
08-31-2022	15.16	0.21 ⁶	(2.42)	(2.21)	(0.21)	(0.63)	(0.84)	12.11	(15.52)	0.38	0.05	1.53	176,669	80
08-31-2021	12.28	0.19	3.23	3.42	(0.19)	(0.35)	(0.54)	15.16	28.59	0.38	0.05	1.42	171,428	17
08-31-2020	11.62	0.25	1.43	1.68	(0.27)	(0.75)	(1.02)	12.28	14.82	0.42	0.05	2.16	109,857	30
08-31-2019	12.85	0.23 ⁶	(0.38)	(0.15)	(0.25)	(0.83)	(1.08)	11.62	0.05	0.39	0.05	2.01 ⁶	91,692	19

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005 per share and 0.01% for the periods ended 8-31-22 and 8-31-19.

⁷ The inception date for Class A shares is 6-21-21.

⁸ Not annualized.

⁹ Annualized.

¹⁰ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

Financial highlights continued

2045 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2045 Lifetime Blend Portfolio
Class A
08-31-2023	11.94	0.15	0.93	1.08	(0.16)	(0.67)	(0.83)	12.19	9.92 ⁵	0.76	0.43	1.32	94,673	29
08-31-2022	14.96	0.12 ⁶	(2.33)	(2.21)	(0.16)	(0.65)	(0.81)	11.94	(15.74) ⁵	0.74	0.42	0.94	44,758	80
08-31-2021 ⁷	14.22	(0.01)	0.75	0.74	—	—	—	14.96	5.20 ^{5, 8}	0.72 ⁹	0.41 ⁹	(0.28) ⁹	7,583	18 ¹⁰
Class R4
08-31-2023	11.91	0.19	0.91	1.10	(0.18)	(0.67)	(0.85)	12.16	10.11	0.70	0.27	1.59	7,909	29
08-31-2022	14.93	0.19 ⁶	(2.38)	(2.19)	(0.18)	(0.65)	(0.83)	11.91	(15.63)	0.68	0.26	1.38	6,716	80
08-31-2021	12.11	0.15	3.19	3.34	(0.17)	(0.35)	(0.52)	14.93	28.31	0.67	0.26	1.12	7,411	18
08-31-2020	11.49	0.13	1.51	1.64	(0.26)	(0.76)	(1.02)	12.11	14.67	0.70	0.27	1.18	3,188	33
08-31-2019	12.76	0.20 ⁶	(0.38)	(0.18)	(0.23)	(0.86)	(1.09)	11.49	(0.11)	0.60	0.18	1.72 ⁶	50	19
Class R6
08-31-2023	11.95	0.25	0.88	1.13	(0.21)	(0.67)	(0.88)	12.20	10.38	0.35	0.02	2.13	90,644	29
08-31-2022	14.97	0.22 ⁶	(2.37)	(2.15)	(0.22)	(0.65)	(0.87)	11.95	(15.39)	0.33	0.01	1.60	122,435	80
08-31-2021	12.14	0.20	3.18	3.38	(0.20)	(0.35)	(0.55)	14.97	28.59	0.32	0.01	1.44	116,109	18
08-31-2020	11.51	0.24	1.43	1.67	(0.28)	(0.76)	(1.04)	12.14	14.94	0.35	—	2.16	66,299	33
08-31-2019	12.77	0.22 ⁶	(0.37)	(0.15)	(0.25)	(0.86)	(1.11)	11.51	0.09	0.33	—	1.96 ⁶	44,013	19
Class 1
08-31-2023	11.94	0.21	0.92	1.13	(0.21)	(0.67)	(0.88)	12.19	10.33	0.39	0.06	1.75	310,455	29
08-31-2022	14.96	0.21 ⁶	(2.37)	(2.16)	(0.21)	(0.65)	(0.86)	11.94	(15.43)	0.37	0.05	1.56	235,373	80
08-31-2021	12.13	0.19	3.19	3.38	(0.20)	(0.35)	(0.55)	14.96	28.56	0.36	0.05	1.41	241,713	18
08-31-2020	11.50	0.24	1.42	1.66	(0.27)	(0.76)	(1.03)	12.13	14.89	0.39	0.05	2.15	142,635	33
08-31-2019	12.76	0.23 ⁶	(0.39)	(0.16)	(0.24)	(0.86)	(1.10)	11.50	0.03	0.37	0.05	2.02 ⁶	120,446	19

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005 per share and 0.01% for the periods ended 8-31-22 and 8-31-19.

⁷ The inception date for Class A shares is 6-21-21.

⁸ Not annualized.

⁹ Annualized.

¹⁰ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

2040 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2040 Lifetime Blend Portfolio
Class A
08-31-2023	11.77	0.17	0.77	0.94	(0.16)	(0.62)	(0.78)	11.93	8.72 ⁵	0.78	0.45	1.50	97,674	23
08-31-2022	14.71	0.14	(2.29)	(2.15)	(0.17)	(0.62)	(0.79)	11.77	(15.55) ⁵	0.76	0.43	1.11	48,066	75
08-31-2021 ⁶	14.02	(0.01)	0.70	0.69	—	—	—	14.71	4.92 ^{5, 7}	0.74 ⁸	0.41 ⁸	(0.21) ⁸	7,706	20 ⁹
Class R4
08-31-2023	11.77	0.20	0.76	0.96	(0.18)	(0.62)	(0.80)	11.93	8.88	0.72	0.29	1.76	7,572	23
08-31-2022	14.71	0.20	(2.32)	(2.12)	(0.20)	(0.62)	(0.82)	11.77	(15.40)	0.70	0.27	1.49	7,079	75
08-31-2021	12.12	0.13	3.05	3.18	(0.18)	(0.41)	(0.59)	14.71	26.96	0.68	0.26	0.95	7,774	20
08-31-2020	11.50	0.08	1.57	1.65	(0.26)	(0.77)	(1.03)	12.12	14.75	0.69	0.26	0.77	1,808	41
08-31-2019	12.79	0.23 ¹⁰	(0.38)	(0.15)	(0.23)	(0.91)	(1.14)	11.50	0.11	0.58	0.17	1.96 ¹⁰	54	18
Class R6
08-31-2023	11.78	0.25	0.74	0.99	(0.21)	(0.62)	(0.83)	11.94	9.18	0.37	0.04	2.13	111,762	23
08-31-2022	14.72	0.23	(2.32)	(2.09)	(0.23)	(0.62)	(0.85)	11.78	(15.19)	0.36	0.02	1.71	107,439	75
08-31-2021	12.13	0.20	3.00	3.20	(0.20)	(0.41)	(0.61)	14.72	27.21	0.33	0.01	1.50	101,995	20
08-31-2020	11.50	0.25	1.43	1.68	(0.28)	(0.77)	(1.05)	12.13	15.05	0.35	0.01	2.21	56,804	41
08-31-2019	12.80	0.23 ¹⁰	(0.37)	(0.14)	(0.25)	(0.91)	(1.16)	11.50	0.23	0.33	—	2.01 ¹⁰	37,168	18
Class 1
08-31-2023	11.78	0.22	0.75	0.97	(0.20)	(0.62)	(0.82)	11.93	9.04	0.41	0.08	1.93	341,454	23
08-31-2022	14.72	0.22	(2.31)	(2.09)	(0.23)	(0.62)	(0.85)	11.78	(15.22)	0.40	0.06	1.67	273,561	75
08-31-2021	12.13	0.20	3.00	3.20	(0.20)	(0.41)	(0.61)	14.72	27.16	0.37	0.05	1.51	273,588	20
08-31-2020	11.50	0.25	1.42	1.67	(0.27)	(0.77)	(1.04)	12.13	14.98	0.39	0.06	2.23	171,471	41
08-31-2019	12.79	0.24 ¹⁰	(0.38)	(0.14)	(0.24)	(0.91)	(1.15)	11.50	0.25	0.37	0.05	2.04 ¹⁰	152,593	18

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 6-21-21.

⁷ Not annualized.

⁸ Annualized.

⁹ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

¹⁰ Net investment income (loss) per share and net investment income (loss) ratio reflect other income received from the Advisor for reimbursement of indirect net expenses associated with the portfolio’s investments in underlying investment companies of less than $0.005 per share and less than 0.005% for the period ended 8-31-19.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

Financial highlights continued

2035 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2035 Lifetime Blend Portfolio
Class A
08-31-2023	11.45	0.19	0.60	0.79	(0.18)	(0.56)	(0.74)	11.50	7.55 ⁵	0.79	0.47	1.71	113,951	19
08-31-2022	14.26	0.15	(2.20)	(2.05)	(0.17)	(0.59)	(0.76)	11.45	(15.29) ⁵	0.78	0.45	1.22	56,843	69
08-31-2021 ⁶	13.64	— ⁷	0.62	0.62	—	—	—	14.26	4.55 ^{5, 8}	0.75 ⁹	0.43 ⁹	(0.09) ⁹	7,671	24 ¹⁰
Class R4
08-31-2023	11.45	0.22	0.58	0.80	(0.20)	(0.56)	(0.76)	11.49	7.61	0.73	0.31	1.94	11,484	19
08-31-2022	14.26	0.21	(2.24)	(2.03)	(0.19)	(0.59)	(0.78)	11.45	(15.15)	0.72	0.29	1.62	9,617	69
08-31-2021	12.00	0.16	2.69	2.85	(0.18)	(0.41)	(0.59)	14.26	24.47	0.70	0.27	1.24	10,690	24
08-31-2020	11.40	0.15	1.42	1.57	(0.27)	(0.70)	(0.97)	12.00	14.15	0.71	0.29	1.39	3,970	42
08-31-2019	12.52	0.22	(0.28)	(0.06)	(0.24)	(0.82)	(1.06)	11.40	0.72	0.61	0.19	1.92	66	19
Class R6
08-31-2023	11.46	0.25	0.58	0.83	(0.23)	(0.56)	(0.79)	11.50	7.90	0.38	0.06	2.23	136,676	19
08-31-2022	14.27	0.24	(2.23)	(1.99)	(0.23)	(0.59)	(0.82)	11.46	(14.93)	0.37	0.04	1.87	115,856	69
08-31-2021	12.01	0.21	2.67	2.88	(0.21)	(0.41)	(0.62)	14.27	24.73	0.35	0.02	1.58	115,558	24
08-31-2020	11.40	0.25	1.35	1.60	(0.29)	(0.70)	(0.99)	12.01	14.45	0.36	0.03	2.27	61,944	42
08-31-2019	12.52	0.24	(0.28)	(0.04)	(0.26)	(0.82)	(1.08)	11.40	0.93	0.34	0.01	2.11	38,369	19
Class 1
08-31-2023	11.46	0.24	0.59	0.83	(0.22)	(0.56)	(0.78)	11.51	7.94	0.43	0.10	2.14	414,039	19
08-31-2022	14.27	0.23	(2.23)	(2.00)	(0.22)	(0.59)	(0.81)	11.46	(14.97)	0.41	0.08	1.81	329,648	69
08-31-2021	12.01	0.21	2.67	2.88	(0.21)	(0.41)	(0.62)	14.27	24.67	0.39	0.06	1.62	316,717	24
08-31-2020	11.40	0.26	1.33	1.59	(0.28)	(0.70)	(0.98)	12.01	14.40	0.40	0.08	2.28	210,077	42
08-31-2019	12.52	0.25	(0.29)	(0.04)	(0.26)	(0.82)	(1.08)	11.40	0.88	0.38	0.06	2.19	185,231	19

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 6-21-21.

⁷ Less than $0.005 per share.

⁸ Not annualized.

⁹ Annualized.

¹⁰ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

2030 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2030 Lifetime Blend Portfolio
Class A
08-31-2023	11.15	0.21	0.43	0.64	(0.20)	(0.55)	(0.75)	11.04	6.32 ⁵	0.82	0.49	1.95	125,637	16
08-31-2022	13.81	0.19	(2.08)	(1.89)	(0.18)	(0.59)	(0.77)	11.15	(14.59) ⁵	0.80	0.47	1.58	67,199	69
08-31-2021 ⁶	13.26	— ⁷	0.55	0.55	—	—	—	13.81	4.15 ^{5, 8}	0.77 ⁹	0.46 ⁹	0.12 ⁹	9,031	31 ¹⁰
Class R4
08-31-2023	11.15	0.24	0.41	0.65	(0.22)	(0.55)	(0.77)	11.03	6.37	0.76	0.33	2.21	12,187	16
08-31-2022	13.81	0.24	(2.11)	(1.87)	(0.20)	(0.59)	(0.79)	11.15	(14.44)	0.74	0.31	1.89	10,514	69
08-31-2021	11.90	0.19	2.31	2.50	(0.19)	(0.40)	(0.59)	13.81	21.64	0.72	0.30	1.48	11,545	31
08-31-2020	11.31	0.19	1.26	1.45	(0.27)	(0.59)	(0.86)	11.90	13.20	0.74	0.32	1.78	6,232	45
08-31-2019	12.20	0.24	(0.15)	0.09	(0.25)	(0.73)	(0.98)	11.31	1.80	0.62	0.21	2.18	56	24
Class R6
08-31-2023	11.16	0.26	0.42	0.68	(0.24)	(0.55)	(0.79)	11.05	6.76	0.41	0.08	2.40	155,732	16
08-31-2022	13.82	0.27	(2.10)	(1.83)	(0.24)	(0.59)	(0.83)	11.16	(14.23)	0.39	0.06	2.15	104,775	69
08-31-2021	11.91	0.22	2.31	2.53	(0.22)	(0.40)	(0.62)	13.82	21.88	0.37	0.05	1.68	102,495	31
08-31-2020	11.32	0.25	1.22	1.47	(0.29)	(0.59)	(0.88)	11.91	13.38	0.39	0.06	2.29	46,937	45
08-31-2019	12.21	0.25	(0.14)	0.11	(0.27)	(0.73)	(1.00)	11.32	2.01	0.37	0.04	2.29	21,285	24
Class 1
08-31-2023	11.16	0.26	0.41	0.67	(0.24)	(0.55)	(0.79)	11.04	6.62	0.45	0.13	2.41	389,584	16
08-31-2022	13.82	0.26	(2.10)	(1.84)	(0.23)	(0.59)	(0.82)	11.16	(14.25)	0.43	0.10	2.09	332,831	69
08-31-2021	11.91	0.23	2.29	2.52	(0.21)	(0.40)	(0.61)	13.82	21.83	0.41	0.09	1.77	348,410	31
08-31-2020	11.31	0.26	1.21	1.47	(0.28)	(0.59)	(0.87)	11.91	13.43	0.42	0.11	2.35	245,230	45
08-31-2019	12.20	0.26	(0.16)	0.10	(0.26)	(0.73)	(0.99)	11.31	1.94	0.41	0.09	2.33	216,585	24

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 6-21-21.

⁷ Less than $0.005 per share.

⁸ Not annualized.

⁹ Annualized.

¹⁰ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

Financial highlights continued

2025 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2025 Lifetime Blend Portfolio
Class A
08-31-2023	10.67	0.23	0.27	0.50	(0.22)	(0.38)	(0.60)	10.57	5.05 ⁵	0.86	0.54	2.26	150,550	21
08-31-2022	13.07	0.21	(1.84)	(1.63)	(0.19)	(0.58)	(0.77)	10.67	(13.36) ⁵	0.84	0.51	1.88	85,495	59
08-31-2021 ⁶	12.62	0.01	0.44	0.45	—	—	—	13.07	3.57 ^{5, 7}	0.81 ⁸	0.49 ⁸	0.45 ⁸	12,112	41 ⁹
Class R4
08-31-2023	10.66	0.26	0.26	0.52	(0.23)	(0.38)	(0.61)	10.57	5.32	0.80	0.38	2.49	6,192	21
08-31-2022	13.07	0.26	(1.88)	(1.62)	(0.21)	(0.58)	(0.79)	10.66	(13.30)	0.78	0.35	2.15	6,167	59
08-31-2021	11.62	0.20	1.88	2.08	(0.20)	(0.43)	(0.63)	13.07	18.50	0.76	0.34	1.67	7,251	41
08-31-2020	11.15	0.20	1.07	1.27	(0.28)	(0.52)	(0.80)	11.62	11.74	0.77	0.36	1.82	4,177	62
08-31-2019	11.86	0.27	(0.04)	0.23	(0.27)	(0.67)	(0.94)	11.15	2.94	0.66	0.25	2.40	55	25
Class R6
08-31-2023	10.68	0.28	0.26	0.54	(0.26)	(0.38)	(0.64)	10.58	5.50	0.45	0.13	2.70	117,356	21
08-31-2022	13.09	0.28	(1.87)	(1.59)	(0.24)	(0.58)	(0.82)	10.68	(13.06)	0.43	0.10	2.39	85,455	59
08-31-2021	11.63	0.23	1.89	2.12	(0.23)	(0.43)	(0.66)	13.09	18.84	0.41	0.09	1.89	91,021	41
08-31-2020	11.15	0.27	1.03	1.30	(0.30)	(0.52)	(0.82)	11.63	11.98	0.42	0.10	2.45	43,689	62
08-31-2019	11.87	0.24	— ¹⁰	0.24	(0.29)	(0.67)	(0.96)	11.15	3.05	0.41	0.08	2.23	17,092	25
Class 1
08-31-2023	10.67	0.28	0.25	0.53	(0.25)	(0.38)	(0.63)	10.57	5.45	0.49	0.17	2.69	278,000	21
08-31-2022	13.08	0.28	(1.88)	(1.60)	(0.23)	(0.58)	(0.81)	10.67	(13.10)	0.47	0.14	2.35	261,009	59
08-31-2021	11.62	0.24	1.88	2.12	(0.23)	(0.43)	(0.66)	13.08	18.81	0.45	0.13	1.94	273,108	41
08-31-2020	11.14	0.27	1.02	1.29	(0.29)	(0.52)	(0.81)	11.62	11.94	0.46	0.15	2.46	205,297	62
08-31-2019	11.86	0.28	(0.05)	0.23	(0.28)	(0.67)	(0.95)	11.14	2.99	0.44	0.13	2.52	200,661	25

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 6-21-21.

⁷ Not annualized.

⁸ Annualized.

⁹ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

¹⁰ Less than $0.005 per share.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

2020 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2020 Lifetime Blend Portfolio
Class A
08-31-2023	10.19	0.25	0.18	0.43	(0.23)	(0.24)	(0.47)	10.15	4.52 ⁵	0.93	0.59	2.49	92,504	23
08-31-2022	12.40	0.23	(1.65)	(1.42)	(0.20)	(0.59)	(0.79)	10.19	(12.31) ⁵	0.94	0.57	2.16	58,199	54
08-31-2021 ⁶	12.04	0.01	0.35	0.36	—	—	—	12.40	2.99 ^{5, 7}	0.91 ⁸	0.55 ⁸	0.56 ⁸	8,174	48 ⁹
Class R4
08-31-2023	10.18	0.27	0.18	0.45	(0.25)	(0.24)	(0.49)	10.14	4.68	0.87	0.43	2.71	3,448	23
08-31-2022	12.39	0.27	(1.67)	(1.40)	(0.22)	(0.59)	(0.81)	10.18	(12.17)	0.87	0.41	2.36	3,551	54
08-31-2021	11.34	0.22	1.44	1.66	(0.22)	(0.39)	(0.61)	12.39	15.08	0.86	0.40	1.89	5,186	48
08-31-2020	11.01	0.24	0.80	1.04	(0.29)	(0.42)	(0.71)	11.34	9.66	0.86	0.39	2.26	4,746	78
08-31-2019	11.48	0.24	0.13	0.37	(0.28)	(0.56)	(0.84)	11.01	4.12	0.75	0.29	2.25	101	24
Class R6
08-31-2023	10.21	0.29	0.18	0.47	(0.27)	(0.24)	(0.51)	10.17	4.94	0.52	0.18	2.92	53,407	23
08-31-2022	12.42	0.30	(1.67)	(1.37)	(0.25)	(0.59)	(0.84)	10.21	(11.92)	0.53	0.16	2.62	42,809	54
08-31-2021	11.36	0.25	1.45	1.70	(0.25)	(0.39)	(0.64)	12.42	15.41	0.51	0.14	2.12	47,943	48
08-31-2020	11.02	0.27	0.80	1.07	(0.31)	(0.42)	(0.73)	11.36	9.97	0.51	0.13	2.52	38,491	78
08-31-2019	11.49	0.27	0.12	0.39	(0.30)	(0.56)	(0.86)	11.02	4.32	0.47	0.10	2.54	9,368	24
Class 1
08-31-2023	10.20	0.29	0.17	0.46	(0.27)	(0.24)	(0.51)	10.15	4.79	0.57	0.23	2.89	120,362	23
08-31-2022	12.41	0.29	(1.67)	(1.38)	(0.24)	(0.59)	(0.83)	10.20	(11.96)	0.57	0.20	2.58	113,942	54
08-31-2021	11.35	0.25	1.44	1.69	(0.24)	(0.39)	(0.63)	12.41	15.37	0.55	0.19	2.11	137,412	48
08-31-2020	11.01	0.29	0.77	1.06	(0.30)	(0.42)	(0.72)	11.35	9.93	0.54	0.18	2.70	107,158	78
08-31-2019	11.48	0.30	0.08	0.38	(0.29)	(0.56)	(0.85)	11.01	4.27	0.50	0.15	2.73	124,872	24

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 6-21-21.

⁷ Not annualized.

⁸ Annualized.

⁹ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

Financial highlights continued

2015 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2015 Lifetime Blend Portfolio
Class A
08-31-2023	9.79	0.25	0.15	0.40	(0.24)	(0.19)	(0.43)	9.76	4.30 ⁵	1.09	0.61	2.62	25,675	28
08-31-2022	11.76	0.24	(1.51)	(1.27)	(0.19)	(0.51)	(0.70)	9.79	(11.55) ⁵	1.11	0.58	2.34	12,908	64
08-31-2021 ⁶	11.46	0.02	0.28	0.30	—	—	—	11.76	2.62 ^{5, 7}	1.12 ⁸	0.57 ⁸	0.81 ⁸	1,932	58 ⁹
Class R4
08-31-2023	9.78	0.27	0.14	0.41	(0.25)	(0.19)	(0.44)	9.75	4.45	1.03	0.45	2.82	524	28
08-31-2022	11.75	0.27	(1.52)	(1.25)	(0.21)	(0.51)	(0.72)	9.78	(11.41)	1.06	0.42	2.50	592	64
08-31-2021	11.00	0.22	1.16	1.38	(0.21)	(0.42)	(0.63)	11.75	13.00	1.07	0.41	1.98	672	58
08-31-2020	10.82	0.22	0.67	0.89	(0.30)	(0.41)	(0.71)	11.00	8.45	1.11	0.40	2.12	1,582	99
08-31-2019	11.07	0.29	0.20	0.49	(0.29)	(0.45)	(0.74)	10.82	5.20	0.90	0.27	2.73	50	27
Class R6
08-31-2023	9.81	0.29	0.13	0.42	(0.27)	(0.19)	(0.46)	9.77	4.61	0.68	0.20	3.02	18,648	28
08-31-2022	11.77	0.30	(1.51)	(1.21)	(0.24)	(0.51)	(0.75)	9.81	(11.08)	0.71	0.17	2.76	17,101	64
08-31-2021	11.02	0.26	1.15	1.41	(0.24)	(0.42)	(0.66)	11.77	13.24	0.72	0.16	2.27	19,660	58
08-31-2020	10.82	0.28	0.64	0.92	(0.31)	(0.41)	(0.72)	11.02	8.81	0.76	0.14	2.63	15,783	99
08-31-2019	11.07	0.27	0.23	0.50	(0.30)	(0.45)	(0.75)	10.82	5.39	0.65	0.10	2.57	3,227	27
Class 1
08-31-2023	9.80	0.29	0.15	0.44	(0.28)	(0.19)	(0.47)	9.77	4.71	0.72	0.24	3.01	33,628	28
08-31-2022	11.77	0.30	(1.53)	(1.23)	(0.23)	(0.51)	(0.74)	9.80	(11.20)	0.75	0.22	2.74	32,841	64
08-31-2021	11.02	0.25	1.16	1.41	(0.24)	(0.42)	(0.66)	11.77	13.19	0.76	0.21	2.23	34,767	58
08-31-2020	10.82	0.29	0.63	0.92	(0.31)	(0.41)	(0.72)	11.02	8.76	0.80	0.19	2.72	28,901	99
08-31-2019	11.07	0.30	0.20	0.50	(0.30)	(0.45)	(0.75)	10.82	5.33	0.69	0.15	2.84	36,564	27

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 6-21-21.

⁷ Not annualized.

⁸ Annualized.

⁹ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

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2010 Lifetime Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in thousands)	Portfolio turnover (%)
2010 Lifetime Blend Portfolio
Class A
08-31-2023	9.67	0.27	0.09	0.36	(0.27)	(0.22)	(0.49)	9.54	4.02 ⁵	1.20	0.63	2.84	10,298	35
08-31-2022	11.49	0.26	(1.42)	(1.16)	(0.21)	(0.45)	(0.66)	9.67	(10.72) ⁵	1.26	0.60	2.55	3,404	69
08-31-2021 ⁶	11.23	0.04	0.22	0.26	—	—	—	11.49	2.32 ^{5, 7}	1.25 ⁸	0.59 ⁸	1.79 ⁸	79	62 ⁹
Class R4
08-31-2023	9.66	0.29	0.09	0.38	(0.29)	(0.22)	(0.51)	9.53	4.19	1.12	0.45	3.04	113	35
08-31-2022	11.48	0.29	(1.43)	(1.14)	(0.23)	(0.45)	(0.68)	9.66	(10.58)	1.18	0.42	2.71	218	69
08-31-2021	10.84	0.24	0.96	1.20	(0.22)	(0.34)	(0.56)	11.48	11.36	1.16	0.40	2.14	241	62
08-31-2020	10.53	0.25	0.57	0.82	(0.27)	(0.24)	(0.51)	10.84	7.92	1.25	0.38	2.44	207	96
08-31-2019	10.81	0.29	0.25	0.54	(0.31)	(0.51)	(0.82)	10.53	5.91	1.07	0.28	2.84	50	35
Class R6
08-31-2023	9.68	0.30	0.10	0.40	(0.31)	(0.22)	(0.53)	9.55	4.46	0.79	0.22	3.15	10,672	35
08-31-2022	11.50	0.31	(1.42)	(1.11)	(0.26)	(0.45)	(0.71)	9.68	(10.34)	0.86	0.19	2.92	7,161	69
08-31-2021	10.86	0.26	0.96	1.22	(0.24)	(0.34)	(0.58)	11.50	11.57	0.84	0.18	2.33	7,176	62
08-31-2020	10.55	0.32	0.51	0.83	(0.28)	(0.24)	(0.52)	10.86	8.09	0.92	0.14	3.05	4,651	96
08-31-2019	10.83	0.28	0.28	0.56	(0.33)	(0.51)	(0.84)	10.55	6.10	0.82	0.11	2.77	2,172	35
Class 1
08-31-2023	9.67	0.30	0.10	0.40	(0.31)	(0.22)	(0.53)	9.54	4.43	0.83	0.26	3.14	38,203	35
08-31-2022	11.49	0.30	(1.41)	(1.11)	(0.26)	(0.45)	(0.71)	9.67	(10.38)	0.90	0.23	2.89	33,971	69
08-31-2021	10.85	0.26	0.95	1.21	(0.23)	(0.34)	(0.57)	11.49	11.53	0.88	0.22	2.32	33,215	62
08-31-2020	10.54	0.28	0.55	0.83	(0.28)	(0.24)	(0.52)	10.85	8.04	0.96	0.19	2.74	27,389	96
08-31-2019	10.82	0.30	0.25	0.55	(0.32)	(0.51)	(0.83)	10.54	6.05	0.86	0.16	2.95	24,556	35

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 6-21-21.

⁷ Not annualized.

⁸ Annualized.

⁹ Portfolio turnover is shown for the period from 9-1-20 to 8-31-21.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

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Notes to financial statements

Note 1—Organization

John Hancock Funds II (the Trust) is an open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, twelve of which are presented in this report (collectively, the Lifetime Blend Portfolios, or the portfolios and individually, the portfolio). The portfolios operate as “funds of funds” that may invest in affiliated underlying funds of the Trust, other funds in the John Hancock group of funds complex, non-John Hancock funds and certain other permitted investments.

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 shares are offered to all investors. Class R4 shares are available only to certain retirement and 529 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. 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.

The investment objective of each portfolio is to seek high total return through each portfolio’s target retirement dates, with a greater focus on income beyond the target dates. Total return, commonly understood as the combination of income and capital appreciation, includes interest, capital gains, dividends, and distributions realized over a given period of time.

Effective February 1, 2023, the portfolios changed their names as follows:

Current Portfolio Name	Former Portfolio Name
2065 Lifetime Blend Portfolio	Multi-Index 2065 Lifetime Portfolio
2060 Lifetime Blend Portfolio	Multi-Index 2060 Lifetime Portfolio
2055 Lifetime Blend Portfolio	Multi-Index 2055 Lifetime Portfolio
2050 Lifetime Blend Portfolio	Multi-Index 2050 Lifetime Portfolio
2045 Lifetime Blend Portfolio	Multi-Index 2045 Lifetime Portfolio
2040 Lifetime Blend Portfolio	Multi-Index 2040 Lifetime Portfolio
2035 Lifetime Blend Portfolio	Multi-Index 2035 Lifetime Portfolio
2030 Lifetime Blend Portfolio	Multi-Index 2030 Lifetime Portfolio
2025 Lifetime Blend Portfolio	Multi-Index 2025 Lifetime Portfolio
2020 Lifetime Blend Portfolio	Multi-Index 2020 Lifetime Portfolio
2015 Lifetime Blend Portfolio	Multi-Index 2015 Lifetime Portfolio
2010 Lifetime Blend Portfolio	Multi-Index 2010 Lifetime Portfolio

Note 2—Significant accounting policies

In order to value the securities, the portfolios use the following valuation techniques: Investments by the portfolios in underlying affiliated funds and other open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Equity securities, including exchange-traded funds or closed-end funds, held by the portfolios are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices.

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securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

The following is a summary of the values by input classification of the portfolios’ investments as of August 31, 2023, by major security category or type:

	Total value at 8-31-23	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
2065 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$22,304,379	$22,304,379	—	—
Unaffiliated investment companies	19,483,888	19,483,888	—	—
Common stocks	154	—	—	$154
U.S. Government and Agency obligations	813,109	—	$813,109	—
Short-term investments	235,087	235,087	—	—
Total investments in securities	$42,836,617	$42,023,354	$813,109	$154

2060 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$87,756,395	$87,756,395	—	—
Unaffiliated investment companies	76,653,933	76,653,933	—	—
Common stocks	1,192	—	—	$1,192
U.S. Government and Agency obligations	3,410,022	—	$3,410,022	—
Short-term investments	231,280	231,280	—	—
Total investments in securities	$168,052,822	$164,641,608	$3,410,022	$1,192

2055 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$158,441,482	$158,441,482	—	—
Unaffiliated investment companies	138,040,441	138,040,441	—	—
Common stocks	2,497	—	—	$2,497
U.S. Government and Agency obligations	6,297,961	—	$6,297,961	—
Short-term investments	2,133,470	2,133,470	—	—
Total investments in securities	$304,915,851	$298,615,393	$6,297,961	$2,497

2050 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$208,369,169	$208,369,169	—	—
Unaffiliated investment companies	182,091,897	182,091,897	—	—
Common stocks	3,422	—	—	$3,422
U.S. Government and Agency obligations	8,309,351	—	$8,309,351	—
Short-term investments	715,714	715,714	—	—
Total investments in securities	$399,489,553	$391,176,780	$8,309,351	$3,422

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	Total value at 8-31-23	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
2045 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$256,373,845	$256,373,845	—	—
Unaffiliated investment companies	233,297,173	233,297,173	—	—
Common stocks	4,368	—	—	$4,368
U.S. Government and Agency obligations	13,333,489	—	$13,333,489	—
Short-term investments	2,321,215	2,321,215	—	—
Total investments in securities	$505,330,090	$491,992,233	$13,333,489	$4,368

2040 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$255,682,063	$255,682,063	—	—
Unaffiliated investment companies	280,841,822	280,841,822	—	—
Common stocks	4,208	—	—	$4,208
U.S. Government and Agency obligations	21,565,672	—	$21,565,672	—
Short-term investments	1,393,650	1,393,650	—	—
Total investments in securities	$559,487,415	$537,917,535	$21,565,672	$4,208

2035 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$276,431,212	$276,431,212	—	—
Unaffiliated investment companies	366,447,321	366,447,321	—	—
Common stocks	4,503	—	—	$4,503
U.S. Government and Agency obligations	32,306,588	—	$32,306,588	—
Short-term investments	1,743,098	1,743,098	—	—
Total investments in securities	$676,932,722	$644,621,631	$32,306,588	$4,503

2030 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$244,272,460	$244,272,460	—	—
Unaffiliated investment companies	399,605,617	399,605,617	—	—
Common stocks	4,036	—	—	$4,036
U.S. Government and Agency obligations	40,265,315	—	$40,265,315	—
Short-term investments	24,836,822	24,836,822	—	—
Total investments in securities	$708,984,250	$668,714,899	$40,265,315	$4,036

2025 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$149,549,381	$149,549,381	—	—
Unaffiliated investment companies	364,964,805	364,964,805	—	—
Common stocks	2,719	—	—	$2,719
U.S. Government and Agency obligations	37,476,255	—	$37,476,255	—
Short-term investments	12,962,612	12,962,612	—	—
Total investments in securities	$564,955,772	$527,476,798	$37,476,255	$2,719

2020 Lifetime Blend Portfolio
Investments in securities:
Assets

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	Total value at 8-31-23	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
2020 Lifetime Blend Portfolio (continued)
Affiliated investment companies	$49,258,244	$49,258,244	—	—
Unaffiliated investment companies	200,990,622	200,990,622	—	—
Common stocks	840	—	—	$840
U.S. Government and Agency obligations	19,671,715	—	$19,671,715	—
Short-term investments	9,032,588	9,032,588	—	—
Total investments in securities	$278,954,009	$259,281,454	$19,671,715	$840

2015 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$12,788,870	$12,788,870	—	—
Unaffiliated investment companies	59,586,456	59,586,456	—	—
Common stocks	217	—	—	$217
U.S. Government and Agency obligations	6,135,821	—	$6,135,821	—
Short-term investments	4,493,675	4,493,675	—	—
Total investments in securities	$83,005,039	$76,869,001	$6,135,821	$217

2010 Lifetime Blend Portfolio
Investments in securities:
Assets
Affiliated investment companies	$7,144,461	$7,144,461	—	—
Unaffiliated investment companies	47,351,489	47,351,489	—	—
Common stocks	115	—	—	$115
U.S. Government and Agency obligations	4,717,617	—	$4,717,617	—
Short-term investments	2,499,111	2,499,111	—	—
Total investments in securities	$61,712,793	$56,995,061	$4,717,617	$115

Level 3 includes securities valued at $0. Refer to Portfolios’ investments.

Securities lending. The portfolios may lend their securities to earn additional income. The portfolios receive collateral from the borrower in an amount not less than the market value of the loaned securities. The portfolios may invest their cash collateral in JHCT, an affiliate of the portfolios, which has a floating NAV and is registered with the SEC as an investment company. JHCT is a prime money market fund and invests in short-term money market investments. Each portfolio will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.

The portfolios have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and

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indemnifies the portfolios for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.

Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the portfolios could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the portfolios will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The portfolios receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the portfolios is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.

Portfolio	Market value of securities on loan	Cash collateral received
2055 Lifetime Blend Portfolio	$1,963,632	$2,003,056
2045 Lifetime Blend Portfolio	1,397,742	1,425,996
2030 Lifetime Blend Portfolio	23,473,288	23,989,214
2025 Lifetime Blend Portfolio	12,761,112	13,020,411
2020 Lifetime Blend Portfolio	8,879,011	9,059,284
2015 Lifetime Blend Portfolio	4,298,113	4,385,362
2010 Lifetime Blend Portfolio	2,277,500	2,323,888

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

Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

Commitment fees for the year ended August 31, 2023 were as follows:

Portfolio	Commitment fee
2065 Lifetime Blend Portfolio	$3,160
2060 Lifetime Blend Portfolio	3,526
2055 Lifetime Blend Portfolio	3,942
2050 Lifetime Blend Portfolio	4,239
2045 Lifetime Blend Portfolio	4,547
2040 Lifetime Blend Portfolio	4,673
2035 Lifetime Blend Portfolio	4,986
2030 Lifetime Blend Portfolio	4,996
2025 Lifetime Blend Portfolio	4,679
2020 Lifetime Blend Portfolio	3,860
2015 Lifetime Blend Portfolio	3,294
2010 Lifetime Blend Portfolio	3,227

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	No Expiration Date
Portfolio	Short Term	Long Term
2065 Lifetime Blend Portfolio	$262,943	—
2060 Lifetime Blend Portfolio	646,601	$612,892
2055 Lifetime Blend Portfolio	2,319,480	2,255,908
2050 Lifetime Blend Portfolio	4,093,332	3,652,698
2045 Lifetime Blend Portfolio	3,511,967	3,675,454
2040 Lifetime Blend Portfolio	1,444,314	4,738,633
2035 Lifetime Blend Portfolio	413,289	7,723,247
2030 Lifetime Blend Portfolio	—	9,606,779
2025 Lifetime Blend Portfolio	353,328	7,396,807
2020 Lifetime Blend Portfolio	155,022	2,446,460
2015 Lifetime Blend Portfolio	12,883	582,232
2010 Lifetime Blend Portfolio	29,432	43,196

For federal income tax purposes, the costs of investments owned on August 31, 2023, including short-term investments, were as follows:

Portfolio	Aggregate cost	Unrealized appreciation	Unrealized (depreciation)	Net unrealized appreciation/ (depreciation)
2065 Lifetime Blend Portfolio	$42,186,451	$898,877	$(248,711)	$650,166
2060 Lifetime Blend Portfolio	166,182,225	3,061,764	(1,191,167)	1,870,597
2055 Lifetime Blend Portfolio	300,352,590	6,999,483	(2,436,222)	4,563,261
2050 Lifetime Blend Portfolio	393,415,095	9,131,850	(3,057,392)	6,074,458
2045 Lifetime Blend Portfolio	502,163,868	8,627,230	(5,461,008)	3,166,222
2040 Lifetime Blend Portfolio	563,855,274	6,262,030	(10,629,889)	(4,367,859)
2035 Lifetime Blend Portfolio	691,076,766	6,476,279	(20,620,323)	(14,144,044)
2030 Lifetime Blend Portfolio	733,042,245	17,568,988	(41,626,983)	(24,057,995)
2025 Lifetime Blend Portfolio	592,464,106	12,719,394	(40,227,728)	(27,508,334)
2020 Lifetime Blend Portfolio	295,352,324	6,681,720	(23,080,035)	(16,398,315)
2015 Lifetime Blend Portfolio	88,191,683	1,732,749	(6,919,393)	(5,186,644)
2010 Lifetime Blend Portfolio	66,065,211	1,053,758	(5,406,176)	(4,352,418)

The tax character of distributions for the year ended August 31, 2023 was as follows:

Portfolio	Ordinary Income	Long Term Capital Gains	Total
2065 Lifetime Blend Portfolio	$355,457	—	$355,457
2060 Lifetime Blend Portfolio	2,138,029	$6,083,606	8,221,635
2055 Lifetime Blend Portfolio	4,322,128	15,231,174	19,553,302
2050 Lifetime Blend Portfolio	5,868,871	18,896,687	24,765,558
2045 Lifetime Blend Portfolio	7,441,640	25,333,687	32,775,327

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Portfolio	Ordinary Income	Long Term Capital Gains	Total
2040 Lifetime Blend Portfolio	$8,139,568	$24,750,760	$32,890,328
2035 Lifetime Blend Portfolio	10,307,392	27,586,028	37,893,420
2030 Lifetime Blend Portfolio	11,670,553	27,026,833	38,697,386
2025 Lifetime Blend Portfolio	10,950,084	16,843,646	27,793,730
2020 Lifetime Blend Portfolio	5,980,694	5,426,080	11,406,774
2015 Lifetime Blend Portfolio	1,804,373	1,279,687	3,084,060
2010 Lifetime Blend Portfolio	1,436,444	1,026,140	2,462,584

The tax character of distributions for the year ended August 31, 2022 was as follows:

Portfolio	Ordinary Income	Long Term Capital Gains	Total
2065 Lifetime Blend Portfolio	$237,492	$25,764	$263,256
2060 Lifetime Blend Portfolio	2,627,933	2,712,120	5,340,053
2055 Lifetime Blend Portfolio	5,671,465	7,056,469	12,727,934
2050 Lifetime Blend Portfolio	7,494,589	9,834,079	17,328,668
2045 Lifetime Blend Portfolio	9,839,160	13,570,800	23,409,960
2040 Lifetime Blend Portfolio	10,354,471	14,654,481	25,008,952
2035 Lifetime Blend Portfolio	12,166,330	17,078,957	29,245,287
2030 Lifetime Blend Portfolio	12,918,028	19,340,068	32,258,096
2025 Lifetime Blend Portfolio	10,522,686	16,663,330	27,186,016
2020 Lifetime Blend Portfolio	5,203,591	9,570,985	14,774,576
2015 Lifetime Blend Portfolio	1,678,044	2,650,800	4,328,844
2010 Lifetime Blend Portfolio	1,190,516	1,590,717	2,781,233

Portfolio	Undistributed Ordinary Income
2065 Lifetime Blend Portfolio	$102,484
2060 Lifetime Blend Portfolio	467,375
2055 Lifetime Blend Portfolio	875,030
2050 Lifetime Blend Portfolio	1,150,453
2045 Lifetime Blend Portfolio	1,755,440
2040 Lifetime Blend Portfolio	2,775,132
2035 Lifetime Blend Portfolio	4,493,625
2030 Lifetime Blend Portfolio	6,020,657
2025 Lifetime Blend Portfolio	6,259,726
2020 Lifetime Blend Portfolio	3,480,474
2015 Lifetime Blend Portfolio	1,157,384
2010 Lifetime Blend Portfolio	830,361

Note 3—Guarantees and indemnifications

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Note 4—Fees and transactions with affiliates

Management fees are determined in accordance with the following schedule:

	First $7.5 billion of aggregate net assets	Excess over $7.5 billion of aggregate net assets
Assets in a fund of the Trust or JHF III	0.060%	0.050%
Other assets	0.510%	0.500%

Expense reimbursements. The Advisor has contractually agreed to reduce its management fees or if necessary make payment to each portfolio in an amount by which certain expenses, including underlying fund expenses (acquired fund fees), exceed the amount indicated below of the respective portfolio’s average net assets. This agreement expires on December 31, 2023, 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.

Portfolio	Expense limitation as a percentage of average net assets
2065 Lifetime Blend Portfolio	0.31%
2060 Lifetime Blend Portfolio	0.31%
2055 Lifetime Blend Portfolio	0.31%
2050 Lifetime Blend Portfolio	0.31%
2045 Lifetime Blend Portfolio	0.31%
2040 Lifetime Blend Portfolio	0.31%

Portfolio	Expense limitation as a percentage of average net assets
2035 Lifetime Blend Portfolio	0.31%
2030 Lifetime Blend Portfolio	0.32%
2025 Lifetime Blend Portfolio	0.34%
2020 Lifetime Blend Portfolio	0.35%
2015 Lifetime Blend Portfolio	0.36%
2010 Lifetime Blend Portfolio	0.36%

The Advisor has voluntarily agreed to waive its management fee for each portfolio so that the aggregate management fee retained by the Advisor with respect to both the portfolio and its underlying investments (after payment of subadvisory fees) does not exceed 0.51% of the portfolio’s first $7.5 billion of average net assets and 0.50% of the portfolio’s average net assets in excess of $7.5 billion. The Advisor may terminate this voluntary waiver at any time upon notice to the Trust.

For the year ended August 31, 2023, the expense reductions under 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 R4	Class R6	Class 1	Total
2065 Lifetime Blend Portfolio	$16,032	$3,111	$16,526	$192,690	$228,359
2060 Lifetime Blend Portfolio	67,540	10,134	132,678	347,335	557,687
2055 Lifetime Blend Portfolio	129,586	17,714	222,431	569,328	939,059
2050 Lifetime Blend Portfolio	190,156	24,094	308,887	684,889	1,208,026
2045 Lifetime Blend Portfolio	230,759	23,964	359,747	876,577	1,491,047
2040 Lifetime Blend Portfolio	239,955	24,165	349,175	992,092	1,605,387
2035 Lifetime Blend Portfolio	270,131	33,957	402,616	1,198,964	1,905,668
2030 Lifetime Blend Portfolio	309,954	36,265	413,527	1,157,742	1,917,488
2025 Lifetime Blend Portfolio	376,754	19,509	317,237	861,731	1,575,231
2020 Lifetime Blend Portfolio	259,648	12,092	167,302	393,099	832,141
2015 Lifetime Blend Portfolio	97,834	2,732	80,119	157,907	338,592
2010 Lifetime Blend Portfolio	44,172	1,213	41,939	197,460	284,784

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

Portfolio	Net Annual Effective Rate
2065 Lifetime Blend Portfolio	0.00%
2060 Lifetime Blend Portfolio	0.00%
2055 Lifetime Blend Portfolio	0.00%
2050 Lifetime Blend Portfolio	0.00%
2045 Lifetime Blend Portfolio	0.00%
2040 Lifetime Blend Portfolio	0.00%

Portfolio	Net Annual Effective Rate
2035 Lifetime Blend Portfolio	0.00%
2030 Lifetime Blend Portfolio	0.02%
2025 Lifetime Blend Portfolio	0.06%
2020 Lifetime Blend Portfolio	0.08%
2015 Lifetime Blend Portfolio	0.00%
2010 Lifetime Blend Portfolio	0.00%

Class	Rule 12b-1 Fee	Service fee
Class A	0.30%	—
Class R4	0.25%	0.10%
Class 1	0.05%	—

Portfolio	Class R4
2065 Lifetime Blend Portfolio	$383
2060 Lifetime Blend Portfolio	2,548
2055 Lifetime Blend Portfolio	5,072
2050 Lifetime Blend Portfolio	7,175
2045 Lifetime Blend Portfolio	7,312
2040 Lifetime Blend Portfolio	7,392

Portfolio	Class R4
2035 Lifetime Blend Portfolio	$10,463
2030 Lifetime Blend Portfolio	11,175
2025 Lifetime Blend Portfolio	6,152
2020 Lifetime Blend Portfolio	3,548
2015 Lifetime Blend Portfolio	573
2010 Lifetime Blend Portfolio	214

	2065 Lifetime Blend Portfolio	2060 Lifetime Blend Portfolio	2055 Lifetime Blend Portfolio	2050 Lifetime Blend Portfolio	2045 Lifetime Blend Portfolio	2040 Lifetime Blend Portfolio	2035 Lifetime Blend Portfolio	2030 Lifetime Blend Portfolio	2025 Lifetime Blend Portfolio	2020 Lifetime Blend Portfolio	2015 Lifetime Blend Portfolio	2010 Lifetime Blend Portfolio
Total sales charges	$527	$381	$3,764	$2,074	$3,061	$863	$1,633	$5,146	$4,401	$4,983	$8,543	$216
Retained for printing prospectus, advertising and sales literature	93	70	618	340	488	158	289	818	830	841	1,524	32
Sales commission to unrelated broker-dealers	434	311	3,146	1,734	2,573	705	1,344	4,328	3,571	4,142	7,019	184

Portfolio	Class A
2065 Lifetime Blend Portfolio	$40

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Class level expenses. Class level expenses for the year ended August 31, 2023 were as follows:

Portfolio	Class	Distribution and service fees	Transfer agent fees
2065 Lifetime Blend Portfolio	Class A	$5,975	$2,302
	Class R4	1,288	28
	Class R6	—	143
	Class 1	11,970	—
	Total	$19,233	$2,473
2060 Lifetime Blend Portfolio	Class A	$50,922	$19,645
	Class R4	8,919	188
	Class R6	—	2,656
	Class 1	43,660	—
	Total	$103,501	$22,489
2055 Lifetime Blend Portfolio	Class A	$110,999	$42,836
	Class R4	17,739	378
	Class R6	—	5,221
	Class 1	81,476	—
	Total	$210,214	$48,435
2050 Lifetime Blend Portfolio	Class A	$169,284	$65,270
	Class R4	25,089	535
	Class R6	—	7,600
	Class 1	101,882	—
	Total	$296,255	$73,405
2045 Lifetime Blend Portfolio	Class A	$210,237	$81,091
	Class R4	25,565	547
	Class R6	—	8,982
	Class 1	133,590	—
	Total	$369,392	$90,620
2040 Lifetime Blend Portfolio	Class A	$219,413	$84,655
	Class R4	25,862	554
	Class R6	—	8,345
	Class 1	151,643	—
	Total	$396,918	$93,554
2035 Lifetime Blend Portfolio	Class A	$248,790	$95,920
	Class R4	36,574	781
	Class R6	—	9,461
	Class 1	184,692	—
	Total	$470,056	$106,162
2030 Lifetime Blend Portfolio	Class A	$285,809	$110,168
	Class R4	39,038	836
	Class R6	—	9,382
	Class 1	178,397	—
	Total	$503,244	$120,386
2025 Lifetime Blend Portfolio	Class A	$355,506	$136,984
	Class R4	21,529	465
	Class R6	—	7,452
	Class 1	135,834	—
	Total	$512,869	$144,901

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Portfolio	Class	Distribution and service fees	Transfer agent fees
2020 Lifetime Blend Portfolio	Class A	$228,366	$87,997
	Class R4	12,371	269
	Class R6	—	3,678
	Class 1	57,657	—
	Total	$298,394	$91,944
2015 Lifetime Blend Portfolio	Class A	$61,844	$23,863
	Class R4	2,005	44
	Class R6	—	1,258
	Class 1	16,567	—
	Total	$80,416	$25,165
2010 Lifetime Blend Portfolio	Class A	$23,466	$9,070
	Class R4	704	17
	Class R6	—	531
	Class 1	17,353	—
	Total	$41,523	$9,618

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

Portfolio	Borrower or Lender	Weighted Average Loan Balance	Days Outstanding	Weighted Average Interest Rate	Interest Income (Expense)
John Hancock Funds II 2055 Lifetime Blend Portfolio	Borrower	$13,000,000	2	5.32%	$(3,844)
John Hancock Funds II 2050 Lifetime Blend Portfolio	Borrower	18,050,000	2	5.32%	(5,338)
John Hancock Funds II 2045 Lifetime Blend Portfolio	Borrower	23,000,000	2	5.32%	(6,801)
John Hancock Funds II 2040 Lifetime Blend Portfolio	Borrower	17,750,000	2	5.32%	(5,249)
John Hancock Funds II 2035 Lifetime Blend Portfolio	Borrower	15,400,000	2	5.32%	(4,554)

Note 5—Portfolio share transactions

Transactions in portfolios’ shares for the years ended August 31, 2023 and 2022 were as follows:

2065 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	189,208	$2,190,902	151,573	$1,920,626
Distributions reinvested	1,756	18,985	572	7,752
Repurchased	(68,485)	(786,919)	(41,745)	(513,256)
Net increase	122,479	$1,422,968	110,400	$1,415,122
Class R4 shares
Sold	16,911	$191,611	12,481	$153,210
Distributions reinvested	367	3,961	268	3,627
Repurchased	(4,259)	(49,355)	(1,661)	(20,683)
Net increase	13,019	$146,217	11,088	$136,154
Class R6 shares
Sold	347,020	$4,012,959	33,991	$428,587
Distributions reinvested	963	10,385	350	4,737
Repurchased	(30,565)	(346,237)	(2,586)	(29,188)
Net increase	317,418	$3,677,107	31,755	$404,136

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2065 Lifetime Blend Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class 1 shares
Sold	1,635,028	$18,826,277	1,064,326	$13,266,019
Distributions reinvested	29,630	319,704	17,956	242,944
Repurchased	(222,214)	(2,513,329)	(81,589)	(969,567)
Net increase	1,442,444	$16,632,652	1,000,693	$12,539,396
Total net increase	1,895,360	$21,878,944	1,153,936	$14,494,808

2060 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	1,554,878	$20,057,861	1,031,950	$15,271,563
Distributions reinvested	71,008	851,383	18,220	287,333
Repurchased	(719,587)	(9,349,253)	(322,011)	(4,691,633)
Net increase	906,299	$11,559,991	728,159	$10,867,263
Class R4 shares
Sold	85,044	$1,087,036	60,105	$879,892
Distributions reinvested	11,628	139,187	5,822	91,759
Repurchased	(25,026)	(321,060)	(18,257)	(269,786)
Net increase	71,646	$905,163	47,670	$701,865
Class R6 shares
Sold	1,772,874	$22,801,702	1,197,746	$17,281,743
Distributions reinvested	195,841	2,342,254	86,966	1,368,847
Repurchased	(2,016,172)	(25,195,773)	(206,196)	(3,086,963)
Net increase (decrease)	(47,457)	$(51,817)	1,078,516	$15,563,627
Class 1 shares
Sold	2,525,410	$32,598,569	1,658,463	$24,188,887
Distributions reinvested	408,422	4,888,811	228,007	3,591,110
Repurchased	(463,266)	(5,832,623)	(520,618)	(7,780,462)
Net increase	2,470,566	$31,654,757	1,365,852	$19,999,535
Total net increase	3,401,054	$44,068,094	3,220,197	$47,132,290

2055 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	3,339,732	$39,464,949	2,282,658	$31,254,816
Distributions reinvested	204,887	2,247,610	49,937	730,576
Repurchased	(1,369,758)	(16,197,012)	(681,733)	(9,159,210)
Net increase	2,174,861	$25,515,547	1,650,862	$22,826,182
Class R4 shares
Sold	73,136	$859,144	60,862	$818,555
Distributions reinvested	31,561	344,963	19,109	278,803
Repurchased	(25,242)	(298,695)	(39,399)	(530,270)
Net increase	79,455	$905,412	40,572	$567,088
Class R6 shares
Sold	3,088,375	$36,441,404	2,109,442	$28,433,886
Distributions reinvested	528,072	5,771,830	246,554	3,597,228
Repurchased	(5,003,772)	(57,101,650)	(423,485)	(5,690,957)
Net increase (decrease)	(1,387,325)	$(14,888,416)	1,932,511	$26,340,157

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2055 Lifetime Blend Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class 1 shares
Sold	3,723,048	$44,003,092	2,658,282	$35,784,295
Distributions reinvested	1,022,098	11,181,753	556,255	8,121,327
Repurchased	(824,624)	(9,680,864)	(1,113,064)	(15,484,373)
Net increase	3,920,522	$45,503,981	2,101,473	$28,421,249
Total net increase	4,787,513	$57,036,524	5,725,418	$78,154,676

2050 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	4,727,009	$56,485,802	3,781,338	$52,344,612
Distributions reinvested	296,527	3,288,489	76,608	1,127,671
Repurchased	(2,104,272)	(25,173,371)	(1,024,589)	(13,717,967)
Net increase	2,919,264	$34,600,920	2,833,357	$39,754,316
Class R4 shares
Sold	85,754	$1,020,072	74,897	$1,022,521
Distributions reinvested	41,523	459,664	27,100	398,103
Repurchased	(51,963)	(631,148)	(33,441)	(470,624)
Net increase	75,314	$848,588	68,556	$950,000
Class R6 shares
Sold	3,941,375	$46,828,329	2,679,864	$35,990,805
Distributions reinvested	716,259	7,914,662	387,212	5,684,275
Repurchased	(7,195,120)	(82,924,390)	(796,175)	(11,042,620)
Net increase (decrease)	(2,537,486)	$(28,181,399)	2,270,901	$30,632,460
Class 1 shares
Sold	4,965,919	$59,527,726	3,703,388	$50,645,660
Distributions reinvested	1,184,333	13,098,720	688,810	10,118,619
Repurchased	(1,364,287)	(16,169,050)	(1,113,593)	(15,554,242)
Net increase	4,785,965	$56,457,396	3,278,605	$45,210,037
Total net increase	5,243,057	$63,725,505	8,451,419	$116,546,813

2045 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	6,069,782	$71,108,962	4,264,119	$57,800,730
Distributions reinvested	396,367	4,308,513	93,151	1,350,686
Repurchased	(2,447,122)	(28,728,916)	(1,114,843)	(14,726,468)
Net increase	4,019,027	$46,688,559	3,242,427	$44,424,948
Class R4 shares
Sold	90,353	$1,051,681	72,121	$963,087
Distributions reinvested	46,121	499,496	29,067	420,017
Repurchased	(50,062)	(592,009)	(33,698)	(460,284)
Net increase	86,412	$959,168	67,490	$922,820
Class R6 shares
Sold	3,991,731	$46,637,154	2,790,560	$37,339,112
Distributions reinvested	903,183	9,799,538	498,657	7,215,567
Repurchased	(7,713,117)	(87,371,159)	(795,592)	(10,857,689)
Net increase (decrease)	(2,818,203)	$(30,934,467)	2,493,625	$33,696,990

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2045 Lifetime Blend Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class 1 shares
Sold	5,674,912	$66,237,571	4,153,796	$56,636,572
Distributions reinvested	1,673,748	18,160,164	996,597	14,420,758
Repurchased	(1,596,786)	(18,631,667)	(1,589,821)	(22,003,202)
Net increase	5,751,874	$65,766,068	3,560,572	$49,054,128
Total net increase	7,039,110	$82,479,328	9,364,114	$128,098,886

2040 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	6,323,862	$72,909,860	4,828,308	$64,716,006
Distributions reinvested	402,866	4,330,814	110,981	1,582,588
Repurchased	(2,623,227)	(30,136,738)	(1,380,308)	(17,831,885)
Net increase	4,103,501	$47,103,936	3,558,981	$48,466,709
Class R4 shares
Sold	72,335	$831,242	64,847	$854,892
Distributions reinvested	45,099	483,909	30,987	441,248
Repurchased	(84,148)	(979,779)	(22,724)	(292,179)
Net increase	33,286	$335,372	73,110	$1,003,961
Class R6 shares
Sold	5,168,123	$59,541,196	2,606,711	$34,577,830
Distributions reinvested	758,983	8,136,302	448,354	6,380,074
Repurchased	(5,684,301)	(63,708,910)	(861,684)	(11,471,487)
Net increase	242,805	$3,968,588	2,193,381	$29,486,417
Class 1 shares
Sold	5,908,657	$67,892,467	5,314,115	$70,895,716
Distributions reinvested	1,860,010	19,939,303	1,166,867	16,604,511
Repurchased	(2,383,166)	(27,674,497)	(1,838,086)	(24,843,283)
Net increase	5,385,501	$60,157,273	4,642,896	$62,656,944
Total net increase	9,765,093	$111,565,169	10,468,368	$141,614,031

2035 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	7,222,786	$80,949,449	5,621,140	$73,148,702
Distributions reinvested	457,229	4,782,617	122,118	1,685,233
Repurchased	(2,731,772)	(30,558,102)	(1,317,648)	(16,589,959)
Net increase	4,948,243	$55,173,964	4,425,610	$58,243,976
Class R4 shares
Sold	126,853	$1,405,059	89,252	$1,147,502
Distributions reinvested	63,386	662,378	42,969	592,118
Repurchased	(31,115)	(351,087)	(41,914)	(551,008)
Net increase	159,124	$1,716,350	90,307	$1,188,612
Class R6 shares
Sold	5,369,440	$59,848,218	2,905,396	$37,996,786
Distributions reinvested	813,919	8,497,312	521,137	7,176,056
Repurchased	(4,409,995)	(48,203,871)	(1,414,146)	(18,541,150)
Net increase	1,773,364	$20,141,659	2,012,387	$26,631,692

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2035 Lifetime Blend Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class 1 shares
Sold	7,668,240	$85,599,060	7,106,370	$93,450,322
Distributions reinvested	2,291,962	23,951,005	1,434,823	19,771,865
Repurchased	(2,735,005)	(30,495,048)	(1,969,255)	(25,577,202)
Net increase	7,225,197	$79,055,017	6,571,938	$87,644,985
Total net increase	14,105,928	$156,086,990	13,100,242	$173,709,265

2030 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	7,989,229	$86,283,943	6,690,990	$84,299,623
Distributions reinvested	552,493	5,618,858	160,242	2,131,223
Repurchased	(3,182,211)	(34,318,992)	(1,479,772)	(18,101,620)
Net increase	5,359,511	$57,583,809	5,371,460	$68,329,226
Class R4 shares
Sold	108,004	$1,167,346	105,226	$1,292,534
Distributions reinvested	72,996	741,644	50,754	674,010
Repurchased	(19,485)	(210,705)	(49,106)	(608,244)
Net increase	161,515	$1,698,285	106,874	$1,358,300
Class R6 shares
Sold	6,582,019	$70,845,310	3,049,049	$39,326,904
Distributions reinvested	795,459	8,073,904	519,089	6,893,497
Repurchased	(2,662,652)	(28,481,982)	(1,597,246)	(20,284,525)
Net increase	4,714,826	$50,437,232	1,970,892	$25,935,876
Class 1 shares
Sold	7,280,561	$78,726,199	7,256,098	$93,065,753
Distributions reinvested	2,390,039	24,258,898	1,699,964	22,558,522
Repurchased	(4,208,838)	(45,281,400)	(4,340,436)	(54,186,383)
Net increase	5,461,762	$57,703,697	4,615,626	$61,437,892
Total net increase	15,697,614	$167,423,023	12,064,852	$157,061,294

2025 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	9,822,633	$101,986,288	8,964,742	$107,493,382
Distributions reinvested	597,214	5,900,225	217,482	2,720,694
Repurchased	(4,193,059)	(43,604,364)	(2,094,939)	(24,193,311)
Net increase	6,226,788	$64,282,149	7,087,285	$86,020,765
Class R4 shares
Sold	72,676	$749,888	56,268	$670,756
Distributions reinvested	35,557	350,594	35,187	439,487
Repurchased	(100,506)	(1,043,206)	(67,868)	(797,963)
Net increase	7,727	$57,276	23,587	$312,280
Class R6 shares
Sold	5,263,823	$54,791,934	2,344,740	$28,512,002
Distributions reinvested	584,433	5,762,510	473,920	5,919,258
Repurchased	(2,757,679)	(28,498,713)	(1,771,014)	(21,444,639)
Net increase	3,090,577	$32,055,731	1,047,646	$12,986,621

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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2025 Lifetime Blend Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class 1 shares
Sold	5,831,441	$60,279,213	5,872,777	$71,393,435
Distributions reinvested	1,601,586	15,775,618	1,450,401	18,101,006
Repurchased	(5,596,626)	(58,212,582)	(3,744,206)	(44,911,878)
Net increase	1,836,401	$17,842,249	3,578,972	$44,582,563
Total net increase	11,161,493	$114,237,405	11,737,490	$143,902,229

2020 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	5,544,940	$55,426,900	6,274,259	$70,907,824
Distributions reinvested	333,258	3,189,277	164,239	1,931,447
Repurchased	(2,473,073)	(24,682,798)	(1,388,342)	(15,080,613)
Net increase	3,405,125	$33,933,379	5,050,156	$57,758,658
Class R4 shares
Sold	37,655	$377,708	30,927	$350,822
Distributions reinvested	18,149	173,321	26,637	312,715
Repurchased	(64,424)	(642,443)	(127,367)	(1,410,374)
Net decrease	(8,620)	$(91,414)	(69,803)	$(746,837)
Class R6 shares
Sold	2,526,857	$25,399,389	1,352,596	$15,874,812
Distributions reinvested	253,006	2,418,735	290,526	3,413,680
Repurchased	(1,719,464)	(17,095,877)	(1,309,694)	(14,920,811)
Net increase	1,060,399	$10,722,247	333,428	$4,367,681
Class 1 shares
Sold	3,004,147	$29,990,076	3,046,331	$35,200,654
Distributions reinvested	589,051	5,625,441	777,215	9,116,734
Repurchased	(2,912,596)	(29,105,137)	(3,723,421)	(42,865,117)
Net increase	680,602	$6,510,380	100,125	$1,452,271
Total net increase	5,137,506	$51,074,592	5,413,906	$62,831,773

2015 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	1,469,680	$14,065,860	1,412,093	$15,323,547
Distributions reinvested	88,460	817,369	38,165	426,685
Repurchased	(246,330)	(2,362,689)	(296,454)	(3,156,200)
Net increase	1,311,810	$12,520,540	1,153,804	$12,594,032
Class R4 shares
Sold	3,484	$33,420	3,674	$39,861
Distributions reinvested	2,913	26,859	3,746	41,807
Repurchased	(13,174)	(125,123)	(4,171)	(42,522)
Net increase (decrease)	(6,777)	$(64,844)	3,249	$39,146
Class R6 shares
Sold	711,122	$6,828,254	306,980	$3,245,344
Distributions reinvested	76,690	707,085	111,171	1,240,663
Repurchased	(623,938)	(5,928,197)	(344,081)	(3,627,799)
Net increase	163,874	$1,607,142	74,070	$858,208

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2015 Lifetime Blend Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class 1 shares
Sold	950,456	$9,074,578	1,699,585	$19,045,153
Distributions reinvested	166,242	1,532,747	234,739	2,619,689
Repurchased	(1,024,777)	(9,928,813)	(1,538,032)	(16,662,928)
Net increase	91,921	$678,512	396,292	$5,001,914
Total net increase	1,560,828	$14,741,350	1,627,415	$18,493,300

2010 Lifetime Blend Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	924,460	$8,767,140	528,825	$5,601,204
Distributions reinvested	44,661	405,522	11,747	128,277
Repurchased	(242,056)	(2,285,464)	(195,471)	(2,013,855)
Net increase	727,065	$6,887,198	345,101	$3,715,626
Class R4 shares
Sold	663	$6,257	759	$8,011
Distributions reinvested	990	8,971	1,019	11,105
Repurchased	(12,349)	(117,379)	(189)	(2,149)
Net increase (decrease)	(10,696)	$(102,151)	1,589	$16,967
Class R6 shares
Sold	715,831	$6,769,454	227,283	$2,304,712
Distributions reinvested	35,193	318,850	39,714	433,284
Repurchased	(373,636)	(3,495,353)	(151,040)	(1,566,825)
Net increase	377,388	$3,592,951	115,957	$1,171,171
Class 1 shares
Sold	1,601,454	$15,028,297	2,088,283	$22,923,500
Distributions reinvested	190,809	1,726,825	202,323	2,205,321
Repurchased	(1,302,442)	(12,339,855)	(1,667,739)	(18,414,244)
Net increase	489,821	$4,415,267	622,867	$6,714,577
Total net increase	1,583,578	$14,793,265	1,085,514	$11,618,341

Portfolio	Class	% by Class
2065 Lifetime Blend Portfolio	R4	13%
2065 Lifetime Blend Portfolio	1	100%
2060 Lifetime Blend Portfolio	1	100%
2055 Lifetime Blend Portfolio	1	100%
2050 Lifetime Blend Portfolio	1	100%
2045 Lifetime Blend Portfolio	1	100%
2040 Lifetime Blend Portfolio	1	100%
2035 Lifetime Blend Portfolio	1	100%
2030 Lifetime Blend Portfolio	1	100%
2025 Lifetime Blend Portfolio	1	100%
2020 Lifetime Blend Portfolio	1	100%
2015 Lifetime Blend Portfolio	1	100%
2010 Lifetime Blend Portfolio	R4	40%
2010 Lifetime Blend Portfolio	1	100%

Note 6—Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the year ended August 31, 2023:

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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	Purchases		Sales
Portfolio	U.S. Government	Other issuers	U.S. Government	Other issuers
2065 Lifetime Blend Portfolio	$702,465	$24,940,050	$150,811	$3,419,009
2060 Lifetime Blend Portfolio	2,576,281	71,499,759	1,139,386	33,884,353
2055 Lifetime Blend Portfolio	4,734,197	115,730,053	2,544,317	74,553,015
2050 Lifetime Blend Portfolio	6,355,230	155,240,953	3,666,063	110,387,248
2045 Lifetime Blend Portfolio	10,038,064	181,031,184	5,275,874	125,245,981
2040 Lifetime Blend Portfolio	14,148,105	187,767,010	9,130,867	101,997,493
2035 Lifetime Blend Portfolio	21,673,169	220,212,603	16,424,964	92,896,043
2030 Lifetime Blend Portfolio	23,536,196	218,623,083	20,079,772	76,323,315
2025 Lifetime Blend Portfolio	20,744,094	185,045,821	18,894,309	86,497,912
2020 Lifetime Blend Portfolio	10,406,595	92,886,222	8,727,079	47,408,427
2015 Lifetime Blend Portfolio	3,260,694	30,238,179	2,573,877	17,032,690
2010 Lifetime Blend Portfolio	2,463,150	29,181,011	1,598,028	16,157,988

Note 7—Investment in affiliated underlying funds

Certain 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 affiliated underlying funds’ net assets. At August 31, 2023, the portfolios did not hold 5% or more of the net assets of any affiliated underlying funds.

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, if any, is as follows:

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
2065 Lifetime Blend Portfolio
International Strategic Equity Allocation	1,091,911	$4,053,967	$6,185,395	$(586,653)	$(66,761)	$536,070	$114,429	—	$10,122,018
John Hancock Collateral Trust*	23,517	33,314	6,646,578	(6,447,959)	2,991	163	4,647	—	235,087
U.S. Sector Rotation	1,268,996	5,297,792	6,263,537	(598,536)	(82,235)	1,301,803	62,968	$109,774	12,182,361
					$(146,005)	$1,838,036	$182,044	$109,774	$22,539,466
2060 Lifetime Blend Portfolio
International Strategic Equity Allocation	4,297,831	$26,510,662	$17,853,411	$(7,135,699)	$(727,527)	$3,340,049	$696,852	—	$39,840,896
John Hancock Collateral Trust*	23,136	1,196,461	59,468,256	(60,444,683)	11,256	(10)	20,539	—	231,280
U.S. Sector Rotation	4,991,198	34,485,826	17,220,569	(8,732,460)	(1,387,216)	6,328,780	378,108	$659,166	47,915,499
					$(2,103,487)	$9,668,819	$1,095,499	$659,166	$87,987,675
2055 Lifetime Blend Portfolio
International Strategic Equity Allocation	7,742,933	$54,047,959	$28,815,560	$(16,120,308)	$(1,590,675)	$6,624,450	$1,386,095	—	$71,776,986
John Hancock Collateral Trust*	213,420	2,399,817	163,317,193	(163,587,227)	3,543	144	36,738	—	2,133,470
U.S. Sector Rotation	9,027,552	69,856,392	27,451,013	(19,723,971)	(3,086,106)	12,167,168	743,778	$1,296,650	86,664,496
					$(4,673,238)	$18,791,762	$2,166,611	$1,296,650	$160,574,952

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

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							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
2050 Lifetime Blend Portfolio
International Strategic Equity Allocation	10,197,048	$73,317,240	$38,402,368	$(23,882,180)	$(2,363,358)	$9,052,569	$1,874,887	—	$94,526,639
John Hancock Collateral Trust*	71,596	3,305,426	183,671,588	(186,261,803)	444	59	62,196	—	715,714
U.S. Sector Rotation	11,858,597	95,037,243	35,824,203	(28,833,074)	(4,574,557)	16,388,715	1,014,255	$1,768,182	113,842,530
					$(6,937,471)	$25,441,343	$2,951,338	$1,768,182	$209,084,883
2045 Lifetime Blend Portfolio
International Strategic Equity Allocation	12,505,780	$90,997,818	$41,241,369	$(24,686,003)	$(2,422,956)	$10,798,357	$2,303,351	—	$115,928,585
John Hancock Collateral Trust*	232,200	4,627,757	280,118,617	(282,440,849)	15,260	430	74,172	—	2,321,215
U.S. Sector Rotation	14,629,715	117,687,686	36,935,897	(29,082,310)	(4,508,877)	19,412,864	1,241,131	$2,163,701	140,445,260
					$(6,916,573)	$30,211,651	$3,618,654	$2,163,701	$258,695,060
2040 Lifetime Blend Portfolio
International Strategic Equity Allocation	12,452,482	$87,123,538	$37,465,873	$(17,279,245)	$(1,597,897)	$9,722,235	$2,160,429	—	$115,434,504
John Hancock Collateral Trust*	139,412	10,485,441	233,688,027	(242,778,542)	(2,314)	1,038	100,939	—	1,393,650
U.S. Sector Rotation	14,609,121	113,458,153	31,604,206	(20,019,901)	(2,671,289)	17,876,390	1,184,618	$2,065,180	140,247,559
					$(4,271,500)	$27,599,663	$3,445,986	$2,065,180	$257,075,713
2035 Lifetime Blend Portfolio
International Strategic Equity Allocation	13,521,557	$91,933,512	$36,803,196	$(12,201,071)	$(1,211,728)	$10,020,925	$2,317,855	—	$125,344,834
John Hancock Collateral Trust*	174,369	13,301,301	347,244,679	(358,802,850)	(1,224)	1,192	131,328	—	1,743,098
U.S. Sector Rotation	15,738,164	119,439,332	30,208,080	(15,247,832)	(1,851,062)	18,537,860	1,261,651	$2,199,476	151,086,378
					$(3,064,014)	$28,559,977	$3,710,834	$2,199,476	$278,174,310
2030 Lifetime Blend Portfolio
International Strategic Equity Allocation	11,837,911	$80,189,656	$28,771,382	$(6,991,673)	$(630,039)	$8,398,105	$1,993,225	—	$109,737,431
John Hancock Collateral Trust*	2,484,527	51,231,732	564,064,773	(590,469,038)	5,799	3,556	270,775	—	24,836,822
U.S. Sector Rotation	14,014,066	104,091,815	25,881,302	(10,390,867)	(1,149,513)	16,102,292	1,065,962	$1,858,323	134,535,029
					$(1,773,753)	$24,503,953	$3,329,962	$1,858,323	$269,109,282

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
2025 Lifetime Blend Portfolio
International Strategic Equity Allocation	7,557,209	$53,994,416	$16,581,925	$(5,832,165)	$(486,106)	$5,797,254	$1,349,582	—	$70,055,324
John Hancock Collateral Trust*	1,296,702	20,685,388	582,161,544	(589,876,335)	(11,450)	3,465	270,555	—	12,962,612
U.S. Sector Rotation	8,280,631	70,157,373	16,978,932	(16,868,396)	(1,805,484)	11,031,632	726,926	$1,267,271	79,494,057
					$(2,303,040)	$16,832,351	$2,347,063	$1,267,271	$162,511,993
2020 Lifetime Blend Portfolio
International Strategic Equity Allocation	2,397,379	$17,151,167	$7,325,973	$(3,905,641)	$(342,164)	$1,994,366	$418,765	—	$22,223,701
John Hancock Collateral Trust*	903,566	15,679,528	370,748,842	(377,399,113)	676	2,655	184,588	—	9,032,588
U.S. Sector Rotation	2,816,098	22,378,565	8,041,502	(6,428,449)	(771,394)	3,814,319	231,557	$403,680	27,034,543
					$(1,112,882)	$5,811,340	$834,910	$403,680	$58,290,832
2015 Lifetime Blend Portfolio
International Strategic Equity Allocation	551,667	$4,614,594	$1,894,014	$(1,844,994)	$(168,729)	$619,071	$112,385	—	$5,113,956
John Hancock Collateral Trust*	449,520	4,079,591	168,781,047	(168,369,763)	1,262	1,538	58,462	—	4,493,675
U.S. Sector Rotation	799,470	5,979,185	2,950,543	(2,163,942)	(250,305)	1,159,433	61,547	$107,297	7,674,914
					$(417,772)	$1,780,042	$232,394	$107,297	$17,282,545
2010 Lifetime Blend Portfolio
International Strategic Equity Allocation	324,237	$2,334,904	$1,446,559	$(996,291)	$(111,593)	$332,102	$55,854	—	$3,005,681
John Hancock Collateral Trust*	249,996	5,583,186	142,955,452	(146,041,895)	1,650	718	56,426	—	2,499,111
U.S. Sector Rotation	431,123	3,027,459	1,914,585	(1,252,404)	(147,737)	596,877	30,412	$53,018	4,138,780
					$(257,680)	$929,697	$142,692	$53,018	$9,643,572

*	Refer to the Securities lending note within Note 2 for details regarding this investment.

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of John Hancock Funds II and Shareholders of 2065 Lifetime Blend Portfolio, 2060 Lifetime Blend Portfolio, 2055 Lifetime Blend Portfolio, 2050 Lifetime Blend Portfolio, 2045 Lifetime Blend Portfolio, 2040 Lifetime Blend Portfolio, 2035 Lifetime Blend Portfolio, 2030 Lifetime Blend Portfolio, 2025 Lifetime Blend Portfolio, 2020 Lifetime Blend Portfolio, 2015 Lifetime Blend Portfolio and 2010 Lifetime Blend Portfolio

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the portfolios’ investments , of 2065 Lifetime Blend Portfolio , 2060 Lifetime Blend Portfolio, 2055 Lifetime Blend Portfolio, 2050 Lifetime Blend Portfolio, 2045 Lifetime Blend Portfolio, 2040 Lifetime Blend Portfolio, 2035 Lifetime Blend Portfolio, 2030 Lifetime Blend Portfolio, 2025 Lifetime Blend Portfolio, 2020 Lifetime Blend Portfolio, 2015 Lifetime Blend Portfolio and 2010 Lifetime Blend Portfolio (twelve of the funds constituting John Hancock Funds II, hereafter collectively referred to as the "Portfolios") as of August 31, 2023, the related statements of operations for the year ended August 31, 2023, the statements of changes in net assets for each of the two years in the period ended August 31, 2023, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Portfolios as of August 31, 2023, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended August 31, 2023 and each of the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

October 4, 2023

We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

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Tax information

(Unaudited)

For federal income tax purposes, the following information is furnished with respect to the distributions of the portfolios, if any, paid during its taxable year ended August 31, 2023.

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

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

Each portfolio reports the maximum amount allowable as Section 163(j) Interest Dividends

Each portfolio reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).

The portfolios below have the following amounts as foreign tax credits, which represent taxes paid on the income derived from foreign sources:

Portfolio	Foreign sourced income	Foreign tax credit
2065 Lifetime Blend Portfolio	$196,022	$24,966
2060 Lifetime Blend Portfolio	1,155,629	148,114
2055 Lifetime Blend Portfolio	2,285,751	293,307
2050 Lifetime Blend Portfolio	3,090,907	396,640
2045 Lifetime Blend Portfolio	3,806,186	486,209
2040 Lifetime Blend Portfolio	3,626,089	460,032
2035 Lifetime Blend Portfolio	3,822,546	485,961
2030 Lifetime Blend Portfolio	3,262,155	414,985
2025 Lifetime Blend Portfolio	2,249,243	284,752
2020 Lifetime Blend Portfolio	908,001	106,101

The portfolios below paid the following amounts in capital gain dividends:

Portfolio	Long term capital gains
2060 Lifetime Blend Portfolio	$6,083,606
2055 Lifetime Blend Portfolio	15,231,174
2050 Lifetime Blend Portfolio	18,896,687
2045 Lifetime Blend Portfolio	25,333,687
2040 Lifetime Blend Portfolio	24,750,760
2035 Lifetime Blend Portfolio	27,586,028
2030 Lifetime Blend Portfolio	27,026,833
2025 Lifetime Blend Portfolio	16,843,646
2020 Lifetime Blend Portfolio	5,426,080
2015 Lifetime Blend Portfolio	1,279,687
2010 Lifetime Blend Portfolio	1,026,140

Eligible shareholders will be mailed a 2023 Form 1099-DIV in early 2024. This will reflect the tax character of all distributions paid in calendar year 2023.

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

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

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EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES

Approval of Advisory and Subadvisory Agreements

At meetings held on June 26-29, 2023, the Board, including the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the 1940 Act (the Independent Trustees), reapproved for an annual period, the continuation of the Advisory Agreement between the Trust and John Hancock Investment Management, LLC (the Advisor) and the Subadvisory Agreement between the Advisor and Manulife Investment Management (US) (the Subadvisor) with respect to each of the Funds identified in Appendix A.

In considering the Advisory Agreement and the Subadvisory Agreement with respect to each Fund, the Board received in advance of the meetings a variety of materials relating to each Fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for peer groups of similar funds prepared by an independent third-party provider of fund data; performance information for the Funds’ benchmark indices; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable; and other information provided by the Advisor and the Subadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor 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 Agreement 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 Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the Funds, including quarterly performance reports prepared by management containing reviews of investment results, and prior presentations from the Subadvisor with respect to the Funds. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the services to be provided to the Funds by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the Funds. In addition, although the Board approved the renewal of the Agreements for all of the Funds at the June meeting, the Board considered each Fund separately.

Approval of Advisory Agreement

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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 relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s 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 fund industry developments;

(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;

(f)the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the Funds; and

(g)the Advisor’s reputation and experience in serving as an investment advisor 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.

(a)reviewed information prepared by management regarding the Funds’ performance;

(b)considered the comparative performance of each Fund’s respective benchmark index;

(c)considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of 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 arrangement generally and with respect to particular Funds.

The Board took into account management’s discussion of the Funds’ expenses. The Board also took into account management’s discussion with respect to the overall management fee and the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fees of the Funds. In addition, the Board 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 actions taken over the past several years to reduce the Funds’ operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to each Fund and that each Fund has breakpoints in its contractual management fee schedule that reduces management fees as assets increase. The Board reviewed information provided by the Advisor concerning investment advisory fees charged by the Advisor or one of its advisory affiliates 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 comparable clients or funds. The Board concluded that the advisory fee paid with respect to each of the Funds is reasonable in light of the nature, extent and quality of the services provided to the Funds under the Advisory Agreement.

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 from the Advisor’s relationship with the Trust, the Board:

(a)reviewed financial information of the Advisor;

(b)reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates, of each Fund;

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(c)received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to each Fund;

(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 information 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;

(h)noted that the Funds’ Subadvisor is an affiliate of the Advisor;

(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;

(a)considered that with respect to the John Hancock underlying funds 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 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 of the Trust and John Hancock Variable Insurance Trust and John Hancock Collateral Trust. The Funds also benefit from such overall management fee waiver through their investment in underlying funds that include certain of the Participating Portfolios, which are subject to the Reimbursement);

Approval of Subadvisory Agreement

In making its determination with respect to approval of the Subadvisory Agreement, 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 Fund Complex);

(2)the historical and current performance of each Fund and comparative performance information relating to an applicable benchmark index and comparable funds; and;

(3)the subadvisory fee for each Fund, including any breakpoints, and to the extent available, and comparative fee information, where available, prepared by an independent third party provider of fund data.

Nature, extent, and quality of services. With respect to the services provided by the Subadvisor with respect to each Fund, the Board received information provided to the Board by the Subadvisor, including the Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as received information relating to the Subadvisor’s compensation program. The Board reviewed the 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 the Subadvisor’s regulatory history, including whether it was 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 the Subadvisor and its operations, including regarding investment processes and

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organizational and staffing matters. The Board also noted that the CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.

Subadvisory fees. The Board considered that each Fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered, if available, each Fund’s subadvisory 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 fund data, to the extent applicable. The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the Funds and compared them to fees charged by each Fund’s Subadvisor to manage other subadvised 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 peer group median and the benchmark index 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 the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the 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)the Subadvisor has extensive experience and demonstrated skills as a manager;

(2)the performance of each Fund has generally been in line with or generally outperformed the historical performance of comparable funds based on the median percentile over the longer-term;

(3)the subadvisory fees are reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and

(4)the subadvisory fees are paid by the Advisor and not the Funds.

***

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APPENDIX A

Portfolio (subadvisor)	Performance of fund, as of 12.31.22	Fees and expenses	Comments
2010 Lifetime Blend Portfolio (formerly, Multi-Index 2010 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the five-year period and underperformed for the one- and three- year periods. Lipper Category – The fund outperformed the median for the one-, three- and five-year periods.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index for the five-year period and peer group median for the one-, three- and five-year periods.
2015 Lifetime Blend Portfolio (formerly, Multi-Index 2015 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the five-year period and underperformed for the one- and three-year periods. Lipper Category – The fund outperformed the median for the one-, three- and five-year periods.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index for the five-year period and peer group median for the one-, three- and five-year periods.
2020 Lifetime Blend Portfolio (formerly, Multi-Index 2020 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the three- and five-year periods and underperformed for the one-year period. Lipper Category – The fund outperformed the median for the one-, three- and five-year periods.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index for the three- and five-year periods and peer group median for the one-, three- and five-year periods.
2025 Lifetime Blend Portfolio (formerly, Multi-Index 2025 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the three- and five-year periods and underperformed for the one-year period. Lipper Category – The fund outperformed the median for the three- and five-year periods and underperformed for the one-year period.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index and peer group median for the three- and five-year periods.
2030 Lifetime Blend Portfolio (formerly, Multi-Index 2030 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the five-year period and underperformed for the one- and three-year periods. Lipper Category – The fund outperformed the median for the three- and five-year periods and underperformed for the one-year period.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index for the five-year period and peer group median for the three- and five-year periods.

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Portfolio (subadvisor)	Performance of fund, as of 12.31.22	Fees and expenses	Comments
2035 Lifetime Blend Portfolio (formerly, Multi-Index 2035 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the five-year period and underperformed for the one- and three-year periods. Lipper Category – The fund outperformed the median for the three- and five-year periods and underperformed for the one-year period.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index for the five-year period and peer group median for the three- and five-year periods.
2040 Lifetime Blend Portfolio (formerly, Multi-Index 2040 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the three- and five-year periods and underperformed for the one-year period. Lipper Category – The fund outperformed the median for the three- and five-year periods and underperformed for the one-year period.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index and peer group median for the three-and five-year periods.
2045 Lifetime Blend Portfolio (formerly, Multi-Index 2045 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund outperformed for the three- and five-year periods and underperformed for the one-year period. Lipper Category – The fund outperformed the median for the one-, three- and five-year periods.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the benchmark index for the three- and five-year periods and peer group median for the one-, three- and five-year periods.
2050 Lifetime Blend Portfolio (formerly, Multi-Index 2050 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund underperformed for the one-, three- and five-year periods. Lipper Category – The fund outperformed the median for the one-, three- and five-year periods.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the peer group median for the one-, three- and five-year periods.
2055 Lifetime Blend Portfolio (formerly, Multi-Index 2055 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund underperformed for the one-, three- and five-year periods. Lipper Category – The fund outperformed the median for the one-, three- and five-year periods.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the peer group median for the one-, three- and five-year periods.

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Portfolio (subadvisor)	Performance of fund, as of 12.31.22	Fees and expenses	Comments
2060 Lifetime Blend Portfolio (formerly, Multi-Index 2060 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund underperformed for the one-, three- and five-year periods. Lipper Category – The fund outperformed the median for the one-, three- and five-year periods.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the peer group median for the one-, three- and five-year periods.
2065 Lifetime Blend Portfolio (formerly, Multi-Index 2065 Lifetime Portfolio) (Manulife Investment Management (US))	Benchmark Index – The fund underperformed for the one-year period. Lipper Category – The fund outperformed the median for the one-year period.	Subadviser fee comparative data not provided due to limited size of Lipper 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 fund’s performance, including the favorable performance relative to the peer group median for the one-year period.

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STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT

Operation of the Liquidity Risk Management Program

This section describes the operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock 2065 Lifetime Blend Portfolio, John Hancock 2060 Lifetime Blend Portfolio, John Hancock 2055 Lifetime Blend Portfolio, John Hancock 2050 Lifetime Blend Portfolio, John Hancock 2045 Lifetime Blend Portfolio, John Hancock 2040 Lifetime Blend Portfolio, John Hancock 2035 Lifetime Blend Portfolio, John Hancock 2030 Lifetime Blend Portfolio, John Hancock 2025 Lifetime Blend Portfolio, John Hancock 2020 Lifetime Blend Portfolio, John Hancock 2015 Lifetime Blend Portfolio and John Hancock 2010 Lifetime Blend Portfolio, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Portfolios’ subadvisor(s), Manulife Investment Management (US) LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.

The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee’s actions to address such matters.

The report stated, in relevant part, that during the period covered by the report:

•	The Fund’s investment strategy remained appropriate for an open-end fund structure;
•	The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund;
•	The Fund did not experience any breaches of the 15% limit on illiquid investments, or any applicable HLIM, that would require reporting to the Securities and Exchange Commission;
•	The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and
•	The Chief Compliance Officer’s office, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures.

Adequacy and Effectiveness

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Trustees and Officers

Independent Trustees
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since¹	Number of John Hancock funds overseen by Trustee
Hassell H. McClellan,² Born: 1945	2005	186
Trustee and Chairperson of the Board
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex.
James R. Boyle, Born: 1959	2015	183
Trustee
Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015).
William H. Cunningham,³ Born: 1944	2012	184
Trustee
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986).
Noni L. Ellison,^* Born: 1971	2022	183
Trustee
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
Grace K. Fey, Born: 1946	2008	186
Trustee
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
Dean C. Garfield,^* Born: 1968	2022	183
Trustee
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
Deborah C. Jackson, Born: 1952	2012	185
Trustee
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
Steven R. Pruchansky, Born: 1944	2012	183
Trustee and Vice Chairperson of the Board
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex.

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Independent Trustees (continued)
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since¹	Number of John Hancock funds overseen by Trustee
Frances G. Rathke,³ Born: 1960	2020	183
Trustee
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020).
Gregory A. Russo, Born: 1949	2012	183
Trustee
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008).

Non-Independent Trustees⁴
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since¹	Number of John Hancock funds overseen by Trustee
Andrew G. Arnott, Born: 1971	2017	184
Non-Independent Trustee
Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (2018-2023); Director and Chairman, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (2007-2023, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017).
Paul Lorentz,^† Born: 1968	2022	183
Non-Independent Trustee
Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022).

Principal officers who are not Trustees
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years	Current Position(s) with the Trust since
Kristie M. Feinberg, Born: 1975	2023
President
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2023); CFO and Global Head of Strategy, Manulife Investment Management (2021-2023, including prior positions); CFO Americas & Global Head of Treasury, Invesco, Ltd., Invesco US (2019-2020, including prior positions); Senior Vice President, Corporate Treasurer and Business Controller, Oppenheimer Funds (2001-2019, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2023).
Charles A. Rizzo, Born: 1957	2007
Chief Financial Officer
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007).
Salvatore Schiavone, Born: 1965	2009
Treasurer
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions).

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Principal officers who are not Trustees (continued)
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years	Current Position(s) with the Trust since
Christopher (Kit) Sechler, Born: 1973	2018
Secretary and Chief Legal Officer
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions).
Trevor Swanberg, Born: 1979	2020
Chief Compliance Officer
Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions).

The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.

¹	Each Trustee holds office until his or her successor is duly elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table.
²	Member of the Audit Committee as of September 26, 2023.
³	Member of the Audit Committee.
⁴	The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates.
^*	Elected to serve as Independent Trustee effective as of September 9, 2022.
^†	Elected to serve as Non-Independent Trustee effective as of September 9, 2022.

JOHN HANCOCK LIFETIME BLEND PORTFOLIOS | ANNUAL REPORT

Table of Contents

More information

Trustees

Paul Lorentz^‡
Frances G. Rathke^*
Gregory A. Russo

Officers

Kristie M. Feinberg^#
President

Charles A. Rizzo
Chief Financial Officer

Salvatore Schiavone
Treasurer

Christopher (Kit) Sechler
Secretary and Chief Legal Officer

Trevor Swanberg
Chief Compliance Officer

Investment advisor

John Hancock Investment Management LLC

Subadvisor

Manulife Investment Management (US) LLC

Portfolio Managers

Geoffrey Kelley, CFA¹
David Kobuszewski, CFA¹
Robert E. Sykes, CFA
Nathan W. Thooft, CFA

Principal distributor

John Hancock Investment Management Distributors LLC

Custodian

State Street Bank and Trust Company

Transfer agent

John Hancock Signature Services, Inc.

Legal counsel

K&L Gates LLP

Independent registered public accounting firm

PricewaterhouseCoopers LLP

^π Member of the Audit Committee as of September 26, 2023.

^† Non-Independent Trustee

^* Member of the Audit Committee

^{^} Elected to serve as Independent Trustee effective as of September 9, 2022.

^§Effective September 21, 2023, Ms. Lizarraga is no longer a Trustee.

^‡ Elected to serve as Non-Independent Trustee effective as of September 9, 2022.

^# Effective June 29, 2023.

¹ Effective January 1, 2023, Geoffrey Kelley and David Kobuszewski were added as portfolio managers of the portfolios.

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

You can also contact us:
800-225-5291	Regular mail:	Express mail:
jhinvestments.com	John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909	John Hancock Signature Services, Inc. 430 W 7^th Street Suite 219909 Kansas City, MO 64105-1407

ANNUAL REPORT | JOHN HANCOCK LIFETIME BLEND PORTFOLIOS

Table of Contents

John Hancock family of funds

U.S. EQUITY FUNDS

Blue Chip Growth

Classic Value

Disciplined Value

Disciplined Value Mid Cap

Equity Income

Financial Industries

Fundamental All Cap Core

Fundamental Large Cap Core

Mid Cap Growth

New Opportunities

Regional Bank

Small Cap Core

Small Cap Growth

Small Cap Value

U.S. Global Leaders Growth

U.S. Growth

INTERNATIONAL EQUITY FUNDS

Disciplined Value International

Emerging Markets

Emerging Markets Equity

Fundamental Global Franchise

Global Environmental Opportunities

Global Equity

Global Shareholder Yield

Global Thematic Opportunities

International Dynamic Growth

International Growth

International Small Company

FIXED-INCOME FUNDS

Bond

California Municipal Bond

Emerging Markets Debt

Floating Rate Income

Government Income

High Yield

High Yield Municipal Bond

Income

Investment Grade Bond

Money Market

Municipal Opportunities

Opportunistic Fixed Income

Short Duration Bond

Short Duration Municipal Opportunities

Strategic Income Opportunities

ALTERNATIVE FUNDS

Alternative Asset Allocation

Diversified Macro

Infrastructure

Multi-Asset Absolute Return

Real Estate Securities

Seaport Long/Short

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EXCHANGE-TRADED FUNDS

John Hancock Corporate Bond ETF

John Hancock International High Dividend ETF

John Hancock Mortgage-Backed Securities ETF

John Hancock Multifactor Developed International ETF

John Hancock Multifactor Emerging Markets ETF

John Hancock Multifactor Large Cap ETF

John Hancock Multifactor Mid Cap ETF

John Hancock Multifactor Small Cap ETF

John Hancock Preferred Income ETF

John Hancock U.S. High Dividend ETF

ASSET ALLOCATION/TARGET DATE FUNDS

Balanced

Multi-Asset High Income

Lifestyle Blend Portfolios

Lifetime Blend Portfolios

Multimanager Lifestyle Portfolios

Multimanager Lifetime Portfolios

Preservation Blend Portfolios

ENVIRONMENTAL, SOCIAL, AND
GOVERNANCE FUNDS

ESG Core Bond

ESG International Equity

ESG Large Cap Core

CLOSED-END FUNDS

Asset-Based Lending

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

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A trusted brand

A better way to invest

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.

“A trusted brand” is based on a survey of 6,651 respondents conducted by Medallia between 3/18/20 and 5/13/20.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

This report is for the information of the shareholders of John Hancock Lifetime Blend Portfolios. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.

MF3099633

RL2A8/23

10/23

A message to shareholders

Dear shareholder,

Sincerely,

Kristie M. Feinberg

Head of Wealth and Asset Management,
United States and Europe
Manulife Investment Management

President and CEO,
John Hancock Investment Management

Table of Contents

AVERAGE ANNUAL TOTAL RETURNS AS OF 8/31/2023 (%)

Lifestyle Blend Moderate Portfolio

Lifestyle Blend Conservative Portfolio

Class A shares were first offered on 4-26-21. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise returns would vary.

The Morningstar Target Allocation Index family consists of indexes that offer a diversified mix of stocks and bonds created for local investors to benchmark their allocation funds. Morningstar’s Category classification system defines the level of equity and bond exposure for each index.

The Morningstar U.S. Aggressive Target Allocation Index seeks 92.5% exposure to global equity markets.

The Morningstar U.S. Moderately Aggressive Target Allocation Index seeks 77.5% exposure to global equity markets.

The Morningstar U.S. Moderate Target Allocation Index seeks 60% exposure to global equity markets.

The Morningstar U.S. Moderately Conservative Target Allocation Index seeks 40% exposure to global equity markets.

The Morningstar U.S. Conservative Target Allocation Index seeks 22.5% exposure to global equity markets.

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

The fund’s Morningstar category average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on their historical portfolio holdings. Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since-inception returns for the Morningstar fund category average are not available.

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, and results for other share classes will vary. 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 portfolios’ objectives, risks, and strategy, see the portfolios’ prospectuses.

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

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Management’s discussion of portfolio performance

Can you describe investment conditions during the 12 months ended August 31, 2023?

Financial assets produced mixed results during the period. On the positive side, global equities shook off a number of concerns to register a robust gain. Although central banks continued to raise interest rates, falling inflation gave investors confidence that the tightening cycle would likely recede at some point within the next year. In addition, continued global growth fueled optimism that the world economy would experience a soft landing rather than a recession. Corporate earnings also came in much better than the markets had been anticipating in late 2022. Together, these factors helped stocks overcome potential headwinds such as the ongoing armed conflict in Ukraine, short-lived turmoil in the U.S. and European banking sectors in March, and growing competition from rising yields on lower-risk investments.

What elements of the portfolios’ positioning helped and hurt results?

All of the John Hancock Lifestyle Blend Portfolios delivered positive relative returns in the annual period; however, with the exception of John Hancock Lifestyle Blend Conservative Portfolio, all portfolios underperformed their respective benchmarks. Diversified indexes, including the portfolios’ benchmarks, gained a substantial boost from the handful of strong-performing U.S. technology giants, while the portfolios faced a headwind to relative performance by being broadly diversified away from this area. However, it is important to keep in mind that our primary goal is to build a broad-based portfolio intended to outperform over full market cycles and not any specific 12-month period. We therefore maintained a steady approach designed to maximize diversification and augment long-term results.

With this as background, asset allocation was the largest detractor from performance across all portfolios, except John Hancock Lifestyle Conservative Portfolio. Most notably, the portfolios were hurt by an underweight in U.S. large-cap stocks and corresponding overweights in domestic small caps, domestic mid caps, and defensive equities. Although defensive stocks registered gains, they did not keep pace with the broader market given investors’ robust appetite for risk. On the positive side, an underweight in emerging-market equities contributed to performance.

An allocation to real assets—which consists of real estate investment trusts (REITs), natural resource equities, and infrastructure stocks—detracted in all funds except John Hancock Lifestyle Blend Conservative Portfolio. While the resources sectors performed well, both REITs and infrastructure stocks were pressured by the rising-rate environment.

Asset allocation had a mixed effect on results in fixed income. Overweights in high yield bonds, senior loans, and emerging markets debt, together with an underweight in the rate-sensitive core bond category, contributed positively. However, an allocation to U.S. Treasury STRIPS was a meaningful detractor in all funds, except John Hancock Lifestyle Blend Conservative Portfolio, due to the category’s above-average interest-rate sensitivity.

MANAGED BY

Nathan W. Thooft, CFA

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Lifestyle Blend Aggressive Portfolio

GROWTH OF $10,000

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

Index 1 is the Morningstar U.S. Aggressive Target Allocation Index which seeks 92.5% exposure to global equity markets from a diversified mix of stocks and bonds.

Index 2 is the John Hancock Lifestyle Aggressive Index which comprises 44.1% of the S&P 500 Index, 16.2% of the MSCI World ex-USA Index, 18.9% of the Russell 2500 Index, 10.8% of the MSCI Emerging Markets Index, 5.0% of the John Hancock Real Asset Blended Index, 0.5% of the ICE BofA U.S. High Yield Index, 0.5% of the JP Morgan EMBI Global Index, and 4.0% of the ICE BofA Long U.S. STRIPS Index.

ASSET ALLOCATION (% of net assets)
Affiliated investment companies	57.2
Equity	57.2
Large blend	31.1
International equity	26.1
Unaffiliated investment companies	41.6
Equity	40.4
Fixed income	1.2
U.S. Government	1.1
Short-term investments and other	0.1

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R6²	Class 1²	Index 1	Index 2
Inception	12-30-13	12-30-13	12-30-13	12-30-13	12-30-13
Average annual total returns
1 year	4.24	10.16	10.02	13.80	10.75
5 year	5.16	6.48	6.40	8.19	7.21
Since inception	6.87	7.57	7.52	8.81	8.23
Cumulative returns
5 year	28.59	36.85	36.37	48.25	41.64
Since inception	90.10	102.50	101.68	126.33	114.83

Performance figures assume all distributions have been reinvested. Returns with maximum sales charge reflect a sales charge on Class A shares of 5%. Sales charges are not applicable to Class R6 and Class 1 shares.

	Class A	Class R6	Class 1
Gross (%)	1.03	0.62	0.66
Net (%)	1.03	0.62	0.66

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	Class A shares were first offered on 4-26-21. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

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Lifestyle Blend Growth Portfolio

GROWTH OF $10,000

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

Index 1 is the Morningstar U.S. Moderately Aggressive Target Allocation Index which seeks 77.5% exposure to global equity markets from a diversified mix of stocks and bonds.

Index 2 is the John Hancock Lifestyle Growth Index which comprises 37.2% of the S&P 500 Index, 13.7% of the MSCI World ex-USA Index, 16.0% of the Russell 2500 Index, 9.1% of the MSCI Emerging Markets Index, 4.0% of the John Hancock Real Asset Blended Index, 1.5% of the ICE BofA U.S. High Yield Index, 1.5% of the JP Morgan EMBI Global Index, 1.5% of the S&P/LSTA Leveraged Loan Index, 9.5% of the Bloomberg U.S. Aggregate Bond Index, 4.0% of the ICE BofA Long U.S. STRIPS Index, and 2.0% of the Bloomberg 1-5 Year TIPS Index.

ASSET ALLOCATION (% of net assets)
Affiliated investment companies	45.1
Equity	45.1
Large blend	24.6
International equity	20.5
Unaffiliated investment companies	51.1
Equity	35.6
Fixed income	15.5
U.S. Government	3.7
Short-term investments and other	0.1

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R6²	Class 1²	Index 1	Index 2
Inception	12-30-13	12-30-13	12-30-13	12-30-13	12-30-13
Average annual total returns
1 year	2.54	8.51	8.39	11.50	9.14
5 year	4.36	5.67	5.62	7.01	6.42
Since inception	5.85	6.55	6.51	7.64	7.36
Cumulative returns
5 year	23.81	31.72	31.44	40.34	36.49
Since inception	73.26	84.70	84.00	103.80	98.82

	Class A	Class R6	Class 1
Gross (%)	1.04	0.63	0.67
Net (%)	1.04	0.63	0.67

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	Class A shares were first offered on 4-26-21. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS

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Lifestyle Blend Balanced Portfolio

GROWTH OF $10,000

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

Index 1 is the Morningstar U.S. Moderate Target Allocation Index which seeks 60% exposure to global equity markets from a diversified mix of stocks and bonds.

Index 2 is the John Hancock Lifestyle Balanced Index which comprises 27.9% of the S&P 500 Index, 10.3% of the MSCI World ex-USA Index, 12.0% of the Russell 2500 Index, 6.8% of the MSCI Emerging Markets Index, 3.0% of the John Hancock Real Asset Blended Index, 3.0% of the ICE BofA U.S. High Yield Index, 3.0% of the JP Morgan EMBI Global Index, 3.0% of the S&P/LSTA Leveraged Loan Index, 21.0% of the Bloomberg U.S. Aggregate Bond Index, 6.0% of the ICE BofA Long U.S. STRIPS Index, and 4.0% of the Bloomberg 1-5 Year TIPS Index.

ASSET ALLOCATION (% of net assets)
Affiliated investment companies	33.5
Equity	33.5
Large blend	18.5
International equity	15.0
Unaffiliated investment companies	59.3
Fixed income	31.8
Equity	27.5
U.S. Government	7.1
Short-term investments and other	0.1

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R6²	Class 1²	Index 1	Index 2
Inception	12-30-13	12-30-13	12-30-13	12-30-13	12-30-13
Average annual total returns
1 year	0.77	6.53	6.40	8.87	6.51
5 year	3.30	4.57	4.53	5.95	5.19
Since inception	4.70	5.39	5.35	6.60	6.20
Cumulative returns
5 year	17.65	25.05	24.81	33.49	28.80
Since inception	55.95	66.10	65.50	85.51	78.93

	Class A	Class R6	Class 1
Gross (%)	1.06	0.65	0.69
Net (%)	1.06	0.65	0.69

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	Class A shares were first offered on 4-26-21. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

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Lifestyle Blend Moderate Portfolio

GROWTH OF $10,000

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

Index 1 is the Morningstar U.S. Moderately Conservative Target Allocation Index which seeks 40% exposure to global equity markets from a diversified mix of stocks and bonds.

Index 2 is the John Hancock Lifestyle Moderate Index which comprises 18.6% of the S&P 500 Index, 6.8% of the MSCI World ex-USA Index, 8.0% of the Russell 2500 Index, 4.6% of the MSCI Emerging Markets Index, 2.0% of the John Hancock Real Asset Blended Index, 4.5% of the ICE BofA U.S. High Yield Index, 4.5% of the JP Morgan EMBI Global Index, 4.5% of the S&P/LSTA Leveraged Loan Index, 36.5% of the Bloomberg U.S. Aggregate Bond Index, 4.0% of the ICE BofA Long U.S. STRIPS Index, and 6.0% of the Bloomberg 1-5 Year TIPS Index.

ASSET ALLOCATION (% of net assets)
Affiliated investment companies	21.6
Equity	21.6
Large blend	11.8
International equity	9.8
Unaffiliated investment companies	70.9
Fixed income	51.5
Equity	19.4
U.S. Government	7.5

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R6²	Class 1²	Index 1	Index 2
Inception	12-30-13	12-30-13	12-30-13	12-30-13	12-30-13
Average annual total returns
1 year	-0.56	5.12	5.07	5.82	4.63
5 year	2.27	3.52	3.50	4.05	3.98
Since inception	3.50	4.17	4.14	4.75	4.86
Cumulative returns
5 year	11.86	18.89	18.78	21.98	21.52
Since inception	39.41	48.42	48.04	56.62	58.17

	Class A	Class R6	Class 1
Gross (%)	1.10	0.69	0.73
Net (%)	1.09	0.68	0.72

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	Class A shares were first offered on 4-26-21. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

ANNUAL REPORT | JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS

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Lifestyle Blend Conservative Portfolio

GROWTH OF $10,000

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

Index 1 is the Morningstar U.S. Conservative Target Allocation Index which seeks 22.5% exposure to global equity markets from a diversified mix of stocks and bonds.

Index 2 is the John Hancock Lifestyle Conservative Index which comprises 9.8% of the S&P 500 Index, 3.6% of the MSCI World ex-USA Index, 4.2% of the Russell 2500 Index, 2.4% of the MSCI Emerging Markets Index, 6.0% of the ICE BofA U.S. High Yield Index, 6.0% of the JP Morgan EMBI Global Index, 6.0% of the S&P/LSTA Leveraged Loan Index, 52.0% of the Bloomberg U.S. Aggregate Bond Index, and 10.0% of the Bloomberg 1-5 Year TIPS Index.

ASSET ALLOCATION (% of net assets)
Affiliated investment companies	9.1
Equity	9.1
Large blend	4.9
International equity	4.2
Unaffiliated investment companies	82.2
Fixed income	70.3
Equity	11.9
U.S. Government	8.6
Short-term investments and other	0.1

PERFORMANCE CHART

Total returns with maximum sales charge for the period ended 8-31-23 (%)

	Class A¹	Class R6²	Class 1²	Index 1	Index 2
Inception	12-30-13	12-30-13	12-30-13	12-30-13	12-30-13
Average annual total returns
1 year	-1.52	4.09	4.04	3.23	3.15
5 year	1.31	2.57	2.53	2.62	2.78
Since inception	2.41	3.09	3.05	3.38	3.43
Cumulative returns
5 year	6.71	13.54	13.33	13.82	14.71
Since inception	25.93	34.20	33.73	37.87	38.63

	Class A	Class R6	Class 1
Gross (%)	1.11	0.70	0.75
Net (%)	1.09	0.68	0.72

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	Class A shares were first offered on 4-26-21. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
²	For certain types of investors, as described in the portfolio’s prospectuses.

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

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Your expenses

As a shareholder of a John Hancock Funds II Lifestyle Blend Portfolio, 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, each 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 a 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.

Actual expenses:

Hypothetical example for comparison purposes:

SHAREHOLDER EXPENSE EXAMPLE CHART

		Account value on 3-1-2023	Ending value on 8-31-2023	Expenses paid during period ended 8-31-2023¹	Annualized expense ratio²
Lifestyle Blend Aggressive Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,065.90	$3.70	0.71%
	Hypothetical example	1,000.00	1,021.60	3.62	0.71%
Class R6	Actual expenses/actual returns	1,000.00	1,067.80	1.56	0.30%
	Hypothetical example	1,000.00	1,023.70	1.53	0.30%
Class 1	Actual expenses/actual returns	1,000.00	1,066.90	1.77	0.34%
	Hypothetical example	1,000.00	1,023.50	1.73	0.34%
Lifestyle Blend Growth Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,056.10	$3.94	0.76%
	Hypothetical example	1,000.00	1,021.40	3.87	0.76%
Class R6	Actual expenses/actual returns	1,000.00	1,058.90	1.82	0.35%
	Hypothetical example	1,000.00	1,023.40	1.79	0.35%
Class 1	Actual expenses/actual returns	1,000.00	1,058.00	2.02	0.39%
	Hypothetical example	1,000.00	1,023.20	1.99	0.39%
Lifestyle Blend Balanced Portfolio
Class A	Actual expenses/actual returns	$1,000.00	$1,045.90	$4.18	0.81%
	Hypothetical example	1,000.00	1,021.10	4.13	0.81%
Class R6	Actual expenses/actual returns	1,000.00	1,048.00	2.06	0.40%
	Hypothetical example	1,000.00	1,023.20	2.04	0.40%
Class 1	Actual expenses/actual returns	1,000.00	1,047.80	2.27	0.44%
	Hypothetical example	1,000.00	1,023.00	2.24	0.44%

ANNUAL REPORT | JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS

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Portfolios’ investments

LIFESTYLE BLEND AGGRESSIVE PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 57.2%
Equity - 57.2%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	13,884,613	$128,710,365
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	15,921,640	152,847,748

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $287,990,148)		$281,558,113
UNAFFILIATED INVESTMENT COMPANIES - 41.6%
Equity - 40.4%
Fidelity Mid Cap Index Fund	2,404,613	67,978,417
Fidelity Small Cap Index Fund	1,629,143	38,431,491
Financial Select Sector SPDR Fund	127,833	4,394,899
iShares Global Infrastructure ETF	53,579	2,434,630
iShares MSCI Global Min Vol Factor ETF	78,148	7,621,774
Vanguard Dividend Appreciation ETF	35,679	5,819,245
Vanguard Energy ETF (C)	59,557	7,422,589
Vanguard FTSE All World ex-US Small-Cap ETF	43,121	4,807,560
Vanguard FTSE Developed Markets ETF	114,829	5,253,427
Vanguard FTSE Emerging Markets ETF	313,832	12,719,611
Vanguard Global ex-U.S. Real Estate ETF	60,605	2,462,987
Vanguard Health Care ETF	24,037	5,875,604
Vanguard Information Technology ETF	10,122	4,503,075
Vanguard Materials ETF	27,046	4,935,354
Vanguard Real Estate ETF	89,337	7,359,582
Vanguard S&P 500 ETF	40,503	16,761,356
Fixed income - 1.2%
Vanguard Emerging Markets Government Bond ETF	40,791	2,510,278
Vanguard Intermediate-Term Corporate Bond ETF	13,032	1,020,275
Vanguard Total Bond Market ETF	14,224	1,020,572
Xtrackers USD High Yield Corporate Bond ETF	39,355	1,361,683

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $193,604,627)		$204,694,409
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (D)(E)	11,471	0
ICA Gruppen AB (D)(E)	493	0
Health care - 0.0%
NMC Health PLC (E)	360	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (D)(E)(F)	1,529	4,608
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (D)(E)	46,457	1,274

TOTAL COMMON STOCKS (Cost $11,582)		$5,882

LIFESTYLE BLEND AGGRESSIVE PORTFOLIO (continued)

	Shares or Principal Amount	Value

U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 1.1%
U.S. Government - 1.1%
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	$2,881,200	$898,033
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	5,541,200	1,751,110
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	5,207,900	1,710,450
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	2,846,300	971,154

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $6,844,816)		$5,330,747
SHORT-TERM INVESTMENTS - 0.6%
Short-term funds - 0.6%
John Hancock Collateral Trust, 5.4789% (G)(H)	278,787	2,786,926

TOTAL SHORT-TERM INVESTMENTS (Cost $2,785,996)		$2,786,926
Total investments (Cost $491,237,169) - 100.5%		$494,376,077
Other assets and liabilities, net - (0.5%)		(2,450,938)
TOTAL NET ASSETS - 100.0%		$491,925,139

LIFESTYLE BLEND GROWTH PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 45.1%
Equity - 45.1%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	24,010,111	$222,573,729
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	27,856,988	267,427,081

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $501,052,719)		$490,000,810
UNAFFILIATED INVESTMENT COMPANIES - 51.1%
Equity - 35.6%
Fidelity Mid Cap Index Fund	4,237,635	119,797,929
Fidelity Small Cap Index Fund	2,961,603	69,864,206
Financial Select Sector SPDR Fund	247,570	8,511,457
iShares Global Infrastructure ETF	94,211	4,280,948
iShares MSCI Global Min Vol Factor ETF	395,142	38,538,199
Vanguard Dividend Appreciation ETF	165,505	26,993,866
Vanguard Energy ETF	104,626	13,039,538
Vanguard FTSE All World ex-US Small-Cap ETF	48,496	5,406,819
Vanguard FTSE Developed Markets ETF	221,299	10,124,429
Vanguard FTSE Emerging Markets ETF	614,636	24,911,197
Vanguard Global ex-U.S. Real Estate ETF	106,551	4,330,233
Vanguard Health Care ETF	47,580	11,630,455
Vanguard Information Technology ETF (C)	20,226	8,998,143
Vanguard Materials ETF	47,526	8,672,544
Vanguard Real Estate ETF	156,913	12,926,493
Vanguard S&P 500 ETF	43,712	18,089,337
Fixed income - 15.5%
Invesco Senior Loan ETF (C)	623,538	13,150,416
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (C)	198,152	4,979,560

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS

Table of Contents

LIFESTYLE BLEND GROWTH PORTFOLIO (continued)

	Shares or Principal Amount	Value
Fixed income - (continued)
Vanguard Emerging Markets Government Bond ETF	365,733	$22,507,209
Vanguard Intermediate-Term Corporate Bond ETF	666,233	52,159,382
Vanguard Short-Term Bond ETF	21,303	1,611,998
Vanguard Short-Term Corporate Bond ETF	131,137	9,940,185
Vanguard Total Bond Market ETF	586,579	42,087,043
Xtrackers USD High Yield Corporate Bond ETF	641,949	22,211,435

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $539,464,969)		$554,763,021
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (D)(E)	19,400	0
ICA Gruppen AB (D)(E)	833	0
Health care - 0.0%
NMC Health PLC (E)	609	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (D)(E)(F)	2,587	7,793
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (D)(E)	78,570	2,154

TOTAL COMMON STOCKS (Cost $19,587)		$9,947
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 3.7%
U.S. Government - 3.7%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$934,714	909,642
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	4,380,072	4,177,451
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	3,008,087	2,821,198
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	6,081,434	5,623,545
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	2,857,848	2,751,013
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	13,084,900	4,078,395
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	25,167,300	7,953,281
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	23,656,900	7,769,722
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	12,934,600	4,413,270

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $48,888,759)		$40,497,517
SHORT-TERM INVESTMENTS - 0.5%
Short-term funds - 0.5%
John Hancock Collateral Trust, 5.4789% (G)(H)	506,463	5,062,904

TOTAL SHORT-TERM INVESTMENTS (Cost $5,059,968)		$5,062,904
Total investments (Cost $1,094,486,002) - 100.4%		$1,090,334,199
Other assets and liabilities, net - (0.4%)		(4,345,966)
TOTAL NET ASSETS - 100.0%		$1,085,988,233

LIFESTYLE BLEND BALANCED PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 33.5%
Equity - 33.5%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	18,395,230	$170,523,786
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	21,797,420	209,255,236

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $386,167,809)		$379,779,022
UNAFFILIATED INVESTMENT COMPANIES - 59.3%
Equity - 27.5%
Fidelity Mid Cap Index Fund	3,219,881	91,026,036
Fidelity Small Cap Index Fund	2,308,494	54,457,385
Financial Select Sector SPDR Fund	227,981	7,837,987
iShares Global Infrastructure ETF	73,453	3,337,704
iShares MSCI Global Min Vol Factor ETF	466,270	45,475,313
Vanguard Dividend Appreciation ETF	196,181	31,997,121
Vanguard Energy ETF (C)	82,440	10,274,497
Vanguard FTSE Developed Markets ETF	150,662	6,892,787
Vanguard FTSE Emerging Markets ETF	441,458	17,892,293
Vanguard Global ex-U.S. Real Estate ETF	83,774	3,404,575
Vanguard Health Care ETF (C)	39,223	9,587,670
Vanguard Information Technology ETF (C)	18,102	8,053,218
Vanguard Materials ETF	37,227	6,793,183
Vanguard Real Estate ETF	122,572	10,097,481
Vanguard S&P 500 ETF	12,409	5,135,216
Fixed income - 31.8%
Invesco Senior Loan ETF (C)	1,332,927	28,111,430
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (C)	398,930	10,025,111
Vanguard Emerging Markets Government Bond ETF	745,454	45,875,239
Vanguard Intermediate-Term Corporate Bond ETF	1,413,082	110,630,190
Vanguard Short-Term Bond ETF	73,763	5,581,646
Vanguard Short-Term Corporate Bond ETF	349,337	26,479,745
Vanguard Total Bond Market ETF	1,178,244	84,539,007
Xtrackers USD High Yield Corporate Bond ETF (C)	1,410,966	48,819,424

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $678,109,751)		$672,324,258
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (D)(E)	14,022	0
ICA Gruppen AB (D)(E)	602	0
Health care - 0.0%
NMC Health PLC (E)	440	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (D)(E)(F)	1,870	5,632
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (D)(E)	56,786	1,557

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

LIFESTYLE BLEND BALANCED PORTFOLIO (continued)

	Shares or Principal Amount	Value

TOTAL COMMON STOCKS (Cost $14,156)		$7,189
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 7.1%
U.S. Government - 7.1%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$2,140,013	$2,082,611
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	10,030,053	9,566,065
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	6,915,413	6,485,766
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	13,976,289	12,923,973
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	6,541,174	6,296,646
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	23,099,700	7,199,879
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	44,432,700	14,041,465
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	41,766,000	13,717,360
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	22,831,300	7,790,012

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $97,408,203)		$80,103,777
SHORT-TERM INVESTMENTS - 4.3%
Short-term funds - 4.3%
John Hancock Collateral Trust, 5.4789% (G)(H)	4,845,620	48,439,726

TOTAL SHORT-TERM INVESTMENTS (Cost $48,431,395)		$48,439,726
Total investments (Cost $1,210,131,314) - 104.2%		$1,180,653,972
Other assets and liabilities, net - (4.2%)		(47,475,630)
TOTAL NET ASSETS - 100.0%		$1,133,178,342

LIFESTYLE BLEND MODERATE PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 21.6%
Equity - 21.6%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	3,686,984	$34,178,342
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	4,275,268	41,042,574

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $75,422,242)		$75,220,916
UNAFFILIATED INVESTMENT COMPANIES - 70.9%
Equity - 19.4%
Fidelity Mid Cap Index Fund	655,102	18,519,739
Fidelity Small Cap Index Fund	428,050	10,097,703
iShares Global Infrastructure ETF	15,191	690,279
iShares MSCI Global Min Vol Factor ETF	161,447	15,745,926
Vanguard Dividend Appreciation ETF	68,009	11,092,268
Vanguard Energy ETF	16,823	2,096,650
Vanguard FTSE Developed Markets ETF	45,128	2,064,606
Vanguard FTSE Emerging Markets ETF	37,240	1,509,337
Vanguard Global ex-U.S. Real Estate ETF	17,167	697,667

LIFESTYLE BLEND MODERATE PORTFOLIO (continued)

	Shares or Principal Amount	Value
Equity - (continued)
Vanguard Materials ETF	7,655	$1,396,884
Vanguard Real Estate ETF	25,263	2,081,166
Vanguard S&P 500 ETF	3,105	1,284,942
Fixed income - 51.5%
Invesco Senior Loan ETF (C)	599,946	12,652,861
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (C)	164,866	4,143,083
Vanguard Emerging Markets Government Bond ETF	320,716	19,736,863
Vanguard Intermediate-Term Corporate Bond ETF	759,583	59,467,753
Vanguard Short-Term Bond ETF	31,612	2,392,080
Vanguard Short-Term Corporate Bond ETF	187,556	14,216,745
Vanguard Total Bond Market ETF	628,132	45,068,470
Xtrackers USD High Yield Corporate Bond ETF (C)	616,268	21,322,873

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $255,194,183)		$246,277,895
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (D)(E)	2,691	0
ICA Gruppen AB (D)(E)	116	0
Health care - 0.0%
NMC Health PLC (E)	84	0
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (D)(E)(F)	359	1,081
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (D)(E)	10,897	299

TOTAL COMMON STOCKS (Cost $2,716)		$1,380
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 7.5%
U.S. Government - 7.5%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$983,409	957,031
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	4,604,716	4,391,703
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	3,218,995	3,019,002
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	6,507,155	6,017,212
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	3,001,666	2,889,455
U.S. Treasury STRIPS, PO, 4.012%, 11/15/2052	4,774,900	1,488,275
U.S. Treasury STRIPS, PO, 4.145%, 08/15/2051	9,185,500	2,902,769
U.S. Treasury STRIPS, PO, 4.195%, 05/15/2050	8,634,200	2,835,762
U.S. Treasury STRIPS, PO, 4.294%, 11/15/2048	4,721,400	1,610,936

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $30,254,363)		$26,112,145

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS

Table of Contents

LIFESTYLE BLEND MODERATE PORTFOLIO (continued)

	Shares or Principal Amount	Value

SHORT-TERM INVESTMENTS - 7.3%
Short-term funds - 7.3%
John Hancock Collateral Trust, 5.4789% (G)(H)	2,531,278	$25,304,179

TOTAL SHORT-TERM INVESTMENTS (Cost $25,297,869)		$25,304,179
Total investments (Cost $386,171,373) - 107.3%		$372,916,515
Other assets and liabilities, net - (7.3%)		(25,455,814)
TOTAL NET ASSETS - 100.0%		$347,460,701

LIFESTYLE BLEND CONSERVATIVE PORTFOLIO

As of 8-31-23

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 9.1%
Equity - 9.1%
International Strategic Equity Allocation, Class NAV, JHF II (MIM US) (B)	1,297,686	$12,029,551
U.S. Sector Rotation, Class NAV, JHF II (MIM US) (B)	1,451,388	13,933,322

TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $25,281,313)		$25,962,873
UNAFFILIATED INVESTMENT COMPANIES - 82.2%
Equity - 11.9%
Fidelity Mid Cap Index Fund	279,657	7,905,901
Fidelity Small Cap Index Fund	218,404	5,152,158
iShares MSCI Global Min Vol Factor ETF	66,074	6,444,197
Vanguard Dividend Appreciation ETF (C)	27,805	4,534,996
Vanguard FTSE Developed Markets ETF	72,606	3,321,725
Vanguard FTSE Emerging Markets ETF	37,401	1,515,863
Vanguard S&P 500 ETF	12,661	5,239,502
Fixed income - 70.3%
Invesco Senior Loan ETF (C)	646,179	13,627,915
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (C)	176,219	4,428,383
Vanguard Emerging Markets Government Bond ETF	347,712	21,398,196
Vanguard Intermediate-Term Corporate Bond ETF (C)	870,576	68,157,394
Vanguard Short-Term Bond ETF	44,933	3,400,080
Vanguard Short-Term Corporate Bond ETF	197,122	14,941,848
Vanguard Total Bond Market ETF	729,683	52,354,756
Xtrackers USD High Yield Corporate Bond ETF (C)	658,029	22,767,804

TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $249,230,674)		$235,190,718
COMMON STOCKS - 0.0%
Consumer staples - 0.0%
China Huishan Dairy Holdings Company, Ltd. (D)(E)	955	0
ICA Gruppen AB (D)(E)	41	0
Health care - 0.0%
NMC Health PLC (E)	30	0

LIFESTYLE BLEND CONSERVATIVE PORTFOLIO (continued)

	Shares or Principal Amount	Value
Real estate - 0.0%
Dalian Wanda Commercial Properties Company, Ltd., H Shares (D)(E)(F)	127	$384
Utilities - 0.0%
China Common Rich Renewable Energy Investments, Ltd. (D)(E)	3,867	106

TOTAL COMMON STOCKS (Cost $965)		$490
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 8.6%
U.S. Government - 8.6%
U.S. Treasury Inflation Protected Security, 0.125%, 07/15/2024	$1,398,537	1,361,025
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2025	6,544,774	6,242,014
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2026	4,611,943	4,325,408
U.S. Treasury Inflation Protected Security, 0.125%, 04/15/2027	9,321,344	8,619,512
U.S. Treasury Inflation Protected Security, 1.250%, 04/15/2028	4,264,497	4,105,078

TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $26,431,238)		$24,653,037
SHORT-TERM INVESTMENTS - 7.0%
Short-term funds - 7.0%
John Hancock Collateral Trust, 5.4789% (G)(H)	1,998,558	19,978,782

TOTAL SHORT-TERM INVESTMENTS (Cost $19,975,970)		$19,978,782
Total investments (Cost $320,920,160) - 106.9%		$305,785,900
Other assets and liabilities, net - (6.9%)		(19,704,111)
TOTAL NET ASSETS - 100.0%		$286,081,789

Percentages are based upon net assets.

Security Abbreviations and Legend

JHF II	John Hancock Funds II
MIM US	Manulife Investment Management (US) LLC
PO	Principal-Only Security - (Principal Tranche of Stripped Security). Rate shown is the annualized yield on date of purchase.
STRIPS	Separate Trading of Registered Interest and Principal Securities
(A)	The underlying funds’ subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.
(C)	All or a portion of this security is on loan as of 8-31-23.
(D)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(E)	Non-income producing.
(F)	These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(G)	The rate shown is the annualized seven-day yield as of 8-31-23.
(H)	Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending.

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

Financial statements

STATEMENTS OF ASSETS AND LIABILITIES 8-31-23

	Lifestyle Blend Aggressive Portfolio	Lifestyle Blend Growth Portfolio	Lifestyle Blend Balanced Portfolio	Lifestyle Blend Moderate Portfolio	Lifestyle Blend Conservative Portfolio
Assets
Unaffiliated investments, at value (including securites loaned)	$210,031,038	$595,270,485	$752,435,224	$272,391,420	$259,844,245
Affiliated investments, at value	284,345,039	495,063,714	428,218,748	100,525,095	45,941,655
Total investments, at value	494,376,077	1,090,334,199	1,180,653,972	372,916,515	305,785,900
Dividends and interest receivable	112,899	211,522	185,683	48,414	40,184
Receivable for fund shares sold	677,270	1,629,144	1,105,021	3,727	371,520
Receivable for investments sold	181,824	55,678	1,965,733	234,565	105,195
Receivable for securities lending income	1,047	6,149	12,125	5,955	5,331
Receivable from affiliates	486	—	—	550	561
Other assets	39,244	67,699	69,084	34,430	28,913
Total assets	495,388,847	1,092,304,391	1,183,991,618	373,244,156	306,337,604
Liabilities
Due to custodian	173,138	9,318	1,756,884	—	87,759
Payable for investments purchased	399,192	808,712	239,638	215,955	40,497
Payable for fund shares repurchased	46,878	270,566	114,869	354,231	64,906
Payable upon return of securities loaned	2,793,340	5,128,817	48,592,829	25,167,700	20,022,132
Payable to affiliates
Accounting and legal services fees	25,187	55,173	57,498	17,724	14,646
Transfer agent fees	6,261	15,268	22,935	10,160	9,020
Trustees’ fees	34	76	78	24	20
Other liabilities and accrued expenses	19,678	28,228	28,545	17,661	16,835
Total liabilities	3,463,708	6,316,158	50,813,276	25,783,455	20,255,815
Net assets	$491,925,139	$1,085,988,233	$1,133,178,342	$347,460,701	$286,081,789
Net assets consist of
Paid-in capital	$494,949,567	$1,103,150,922	$1,183,428,480	$370,631,890	$312,003,763
Total distributable earnings (loss)	(3,024,428)	(17,162,689)	(50,250,138)	(23,171,189)	(25,921,974)
Net assets	$491,925,139	$1,085,988,233	$1,133,178,342	$347,460,701	$286,081,789
Unaffiliated investments, at cost	$200,461,025	$588,373,315	$775,532,110	$285,451,262	$275,662,877
Affiliated investments, at cost	290,776,144	506,112,687	434,599,204	100,720,111	45,257,283
Total investments, at cost	491,237,169	1,094,486,002	1,210,131,314	386,171,373	320,920,160
Securities loaned, at value	$2,738,560	$5,027,526	$47,616,080	$24,618,284	$19,607,297
Net asset value per share
The portfolios have an unlimited number of shares authorized with no par value. 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	$62,427,156	$154,382,981	$231,836,126	$102,043,824	$90,396,732
Shares outstanding	5,440,082	13,891,822	22,292,127	10,127,455	9,385,981
Net asset value and redemption price per share	$11.48	$11.11	$10.40	$10.08	$9.63
Class R6
Net assets	$17,026,033	$28,436,225	$20,589,686	$7,074,011	$6,511,191
Shares outstanding	1,480,960	2,551,033	1,980,622	701,686	675,598
Net asset value, offering price and redemption price per share	$11.50	$11.15	$10.40	$10.08	$9.64
Class 1
Net assets	$412,471,950	$903,169,027	$880,752,530	$238,342,866	$189,173,866
Shares outstanding	35,915,526	81,199,614	84,761,133	23,644,919	19,636,652
Net asset value, offering price and redemption price per share	$11.48	$11.12	$10.39	$10.08	$9.63
Maximum offering price per share
Class A (net asset value per share ÷ 95%)²	$12.08	$11.69	$10.95	$10.61	$10.14


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

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS

Table of Contents

STATEMENTS OF OPERATIONS For the year ended 8-31-23

	Lifestyle Blend Aggressive Portfolio	Lifestyle Blend Growth Portfolio	Lifestyle Blend Balanced Portfolio	Lifestyle Blend Moderate Portfolio	Lifestyle Blend Conservative Portfolio
Investment income
Dividends from affiliated investments	$4,073,006	$7,040,564	$5,299,239	$1,068,205	$406,270
Dividends from unaffiliated investments	3,999,947	14,447,442	20,707,372	8,473,928	8,999,011
Interest	185,191	1,421,794	2,914,784	934,736	873,950
Securities lending	11,714	382,079	787,547	383,930	402,332
Total investment income	8,269,858	23,291,879	29,708,942	10,860,799	10,681,563
Expenses
Investment management fees	1,095,394	2,986,694	3,650,205	1,297,856	1,262,989
Distribution and service fees	352,733	796,219	971,215	361,660	332,256
Accounting and legal services fees	96,240	212,436	219,426	67,602	57,626
Transfer agent fees	59,849	138,067	208,902	93,479	90,378
Trustees’ fees	11,217	24,782	25,428	7,826	6,799
Custodian fees	26,752	28,877	28,877	28,877	28,877
State registration fees	36,274	48,143	53,207	36,741	42,212
Printing and postage	20,325	22,579	23,673	20,308	20,285
Professional fees	57,760	79,842	81,029	52,156	50,262
Other	28,915	51,054	45,216	25,187	26,092
Total expenses	1,785,459	4,388,693	5,307,178	1,991,692	1,917,776
Less expense reductions	(35,531)	(123)	(252)	(68,197)	(83,987)
Net expenses	1,749,928	4,388,570	5,306,926	1,923,495	1,833,789
Net investment income	6,519,930	18,903,309	24,402,016	8,937,304	8,847,774
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments	(3,696,631)	(13,272,014)	(18,179,281)	(7,283,615)	(8,472,182)
Affiliated investments	(3,129,448)	(4,122,302)	(2,658,414)	(1,244,798)	(1,028,939)
Capital gain distributions received from affiliated investments	2,446,577	4,232,838	3,201,598	645,670	239,022
	(4,379,502)	(13,161,478)	(17,636,097)	(7,882,743)	(9,262,099)
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments	12,850,845	26,432,965	21,116,719	6,692,864	8,161,870
Affiliated investments	30,120,417	51,604,423	39,271,610	8,541,369	3,593,145
	42,971,262	78,037,388	60,388,329	15,234,233	11,755,015
Net realized and unrealized gain	38,591,760	64,875,910	42,752,232	7,351,490	2,492,916
Increase in net assets from operations	$45,111,690	$83,779,219	$67,154,248	$16,288,794	$11,340,690

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

STATEMENTS OF CHANGES IN NET ASSETS

	Lifestyle Blend Aggressive Portfolio		Lifestyle Blend Growth Portfolio		Lifestyle Blend Balanced Portfolio
	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22	Year ended 8-31-23	Year ended 8-31-22
Increase (decrease) in net assets
From operations
Net investment income	$6,519,930	$6,170,511	$18,903,309	$17,895,024	$24,402,016	$21,818,043
Net realized gain (loss)	(4,379,502)	66,001,508	(13,161,478)	122,744,995	(17,636,097)	98,365,012
Change in net unrealized appreciation (depreciation)	42,971,262	(149,570,653)	78,037,388	(300,764,694)	60,388,329	(273,738,361)
Increase (decrease) in net assets resulting from operations	45,111,690	(77,398,634)	83,779,219	(160,124,675)	67,154,248	(153,555,306)
Distributions to shareholders
From earnings
Class A	(5,315,969)	(2,003,659)	(11,651,766)	(3,383,549)	(15,005,145)	(4,350,623)
Class R6	(1,633,965)	(935,046)	(2,668,019)	(1,385,322)	(1,610,666)	(1,129,499)
Class 1	(46,896,397)	(35,035,864)	(98,515,443)	(67,301,517)	(82,881,884)	(64,509,406)
Total distributions	(53,846,331)	(37,974,569)	(112,835,228)	(72,070,388)	(99,497,695)	(69,989,528)
Portfolio share transactions
From portfolio share transactions	50,900,232	55,821,932	122,438,420	87,781,432	159,318,239	109,090,528
Total increase (decrease)	42,165,591	(59,551,271)	93,382,411	(144,413,631)	126,974,792	(114,454,306)
Net assets
Beginning of year	449,759,548	509,310,819	992,605,822	1,137,019,453	1,006,203,550	1,120,657,856
End of year	$491,925,139	$449,759,548	$1,085,988,233	$992,605,822	$1,133,178,342	$1,006,203,550

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS

Table of Contents

Financial highlights

Lifestyle Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in millions)	Portfolio turnover (%)
Lifestyle Blend Aggressive Portfolio
Class A
08-31-2023	11.86	0.11	0.88	0.99	(0.11)	(1.26)	(1.37)	11.48	9.69⁵	0.71	0.70	0.98	62	16
08-31-2022	14.98	0.09	(2.16)	(2.07)	(0.14)	(0.91)	(1.05)	11.86	(15.01)⁵	0.68	0.68	0.69	43	91
08-31-2021⁶	14.31	(0.02)	0.69	0.67	—	—	—	14.98	4.68^{5, 7}	0.65⁸	0.65⁸	(0.30)⁸	9	17
Class R6
08-31-2023	11.88	0.16	0.88	1.04	(0.16)	(1.26)	(1.42)	11.50	10.16	0.30	0.29	1.42	17	16
08-31-2022	15.01	0.16	(2.18)	(2.02)	(0.20)	(0.91)	(1.11)	11.88	(14.70)	0.27	0.27	1.19	14	91
08-31-2021	11.94	0.17	3.34	3.51	(0.17)	(0.27)	(0.44)	15.01	30.02	0.25	0.25	1.22	12	17
08-31-2020	11.57	0.16	1.32	1.48	(0.23)	(0.88)	(1.11)	11.94	13.00	0.26	0.26	1.48	8	21
08-31-2019	13.12	0.19	(0.50)	(0.31)	(0.20)	(1.04)	(1.24)	11.57	(0.88)	0.25	0.25	1.62	4	14
Class 1
08-31-2023	11.87	0.16	0.86	1.02	(0.15)	(1.26)	(1.41)	11.48	10.02	0.34	0.34	1.45	412	16
08-31-2022	15.00	0.18	(2.20)	(2.02)	(0.20)	(0.91)	(1.11)	11.87	(14.74)	0.31	0.31	1.30	392	91
08-31-2021	11.93	0.16	3.35	3.51	(0.17)	(0.27)	(0.44)	15.00	30.00	0.29	0.29	1.20	489	17
08-31-2020	11.56	0.21	1.27	1.48	(0.23)	(0.88)	(1.11)	11.93	12.98	0.30	0.29	1.90	379	21
08-31-2019	13.12	0.19	(0.51)	(0.32)	(0.20)	(1.04)	(1.24)	11.56	(1.01)	0.29	0.29	1.61	336	14

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 4-26-21.

⁷ Not annualized.

⁸ Annualized.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS

Table of Contents

Financial highlights continued

Lifestyle Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in millions)	Portfolio turnover (%)
Lifestyle Blend Growth Portfolio
Class A
08-31-2023	11.57	0.15	0.65	0.80	(0.17)	(1.09)	(1.26)	11.11	7.95⁵	0.75	0.75	1.41	154	15
08-31-2022	14.32	0.14	(2.05)	(1.91)	(0.16)	(0.68)	(0.84)	11.57	(14.26)⁵	0.73	0.73	1.14	85	74
08-31-2021⁶	13.73	—⁷	0.59	0.59	—	—	—	14.32	4.30^{5, 8}	0.70⁹	0.70⁹	0.06⁹	20	22
Class R6
08-31-2023	11.60	0.21	0.65	0.86	(0.22)	(1.09)	(1.31)	11.15	8.51	0.34	0.34	1.88	28	15
08-31-2022	14.37	0.22	(2.09)	(1.87)	(0.22)	(0.68)	(0.90)	11.60	(14.01)	0.32	0.32	1.69	24	74
08-31-2021	11.97	0.19	2.68	2.87	(0.20)	(0.27)	(0.47)	14.37	24.56	0.30	0.30	1.43	21	22
08-31-2020	11.56	0.23	1.11	1.34	(0.26)	(0.67)	(0.93)	11.97	11.88	0.31	0.31	2.07	7	32
08-31-2019	12.56	0.23	(0.21)	0.02	(0.23)	(0.79)	(1.02)	11.56	1.30	0.30	0.30	1.99	6	13
Class 1
08-31-2023	11.58	0.21	0.63	0.84	(0.21)	(1.09)	(1.30)	11.12	8.39	0.39	0.39	1.89	903	15
08-31-2022	14.34	0.22	(2.08)	(1.86)	(0.22)	(0.68)	(0.90)	11.58	(14.00)	0.36	0.36	1.68	884	74
08-31-2021	11.95	0.19	2.67	2.86	(0.20)	(0.27)	(0.47)	14.34	24.48	0.34	0.34	1.48	1,096	22
08-31-2020	11.54	0.24	1.10	1.34	(0.26)	(0.67)	(0.93)	11.95	11.86	0.34	0.34	2.10	887	32
08-31-2019	12.54	0.22	(0.20)	0.02	(0.23)	(0.79)	(1.02)	11.54	1.27	0.34	0.34	1.96	823	13

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 4-26-21.

⁷ Less than $0.005 per share.

⁸ Not annualized.

⁹ Annualized.

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

Lifestyle Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in millions)	Portfolio turnover (%)
Lifestyle Blend Balanced Portfolio
Class A
08-31-2023	10.82	0.19	0.39	0.58	(0.21)	(0.79)	(1.00)	10.40	6.08⁵	0.80	0.80	1.90	232	15
08-31-2022	13.33	0.19	(1.93)	(1.74)	(0.19)	(0.58)	(0.77)	10.82	(13.85)⁵	0.79	0.79	1.62	126	58
08-31-2021⁶	12.84	0.02	0.50	0.52	(0.03)	—	(0.03)	13.33	4.06^{5, 7}	0.76⁸	0.76⁸	0.55⁸	28	32
Class R6
08-31-2023	10.82	0.24	0.38	0.62	(0.25)	(0.79)	(1.04)	10.40	6.53	0.40	0.40	2.35	21	15
08-31-2022	13.33	0.25	(1.93)	(1.68)	(0.25)	(0.58)	(0.83)	10.82	(13.48)	0.38	0.38	2.11	16	58
08-31-2021	11.66	0.21	1.94	2.15	(0.22)	(0.26)	(0.48)	13.33	18.91	0.36	0.36	1.69	19	32
08-31-2020	11.26	0.25	0.90	1.15	(0.27)	(0.48)	(0.75)	11.66	10.50	0.37	0.37	2.23	7	42
08-31-2019	11.79	0.26	0.03	0.29	(0.26)	(0.56)	(0.82)	11.26	3.26	0.36	0.36	2.32	6	21
Class 1
08-31-2023	10.82	0.25	0.36	0.61	(0.25)	(0.79)	(1.04)	10.39	6.40	0.44	0.44	2.38	881	15
08-31-2022	13.32	0.25	(1.93)	(1.68)	(0.24)	(0.58)	(0.82)	10.82	(13.45)	0.42	0.42	2.07	864	58
08-31-2021	11.65	0.22	1.93	2.15	(0.22)	(0.26)	(0.48)	13.32	18.87	0.40	0.40	1.73	1,074	32
08-31-2020	11.26	0.25	0.88	1.13	(0.26)	(0.48)	(0.74)	11.65	10.36	0.41	0.41	2.26	931	42
08-31-2019	11.78	0.25	0.05	0.30	(0.26)	(0.56)	(0.82)	11.26	3.31	0.40	0.40	2.30	891	21

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 4-26-21.

⁷ Not annualized.

⁸ Annualized.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS

Table of Contents

Financial highlights continued

Lifestyle Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in millions)	Portfolio turnover (%)
Lifestyle Blend Moderate Portfolio
Class A
08-31-2023	10.25	0.24	0.20	0.44	(0.24)	(0.37)	(0.61)	10.08	4.68⁵	0.88	0.86	2.38	102	20
08-31-2022	12.34	0.22	(1.73)	(1.51)	(0.21)	(0.37)	(0.58)	10.25	(12.77)⁵	0.87	0.86	2.04	55	45
08-31-2021⁶	11.98	0.04	0.36	0.40	(0.04)	—	(0.04)	12.34	3.33^{5, 7}	0.85⁸	0.84⁸	0.97⁸	15	34
Class R6
08-31-2023	10.25	0.28	0.20	0.48	(0.28)	(0.37)	(0.65)	10.08	5.12	0.48	0.46	2.81	7	20
08-31-2022	12.35	0.27	(1.74)	(1.47)	(0.26)	(0.37)	(0.63)	10.25	(12.49)	0.46	0.45	2.41	5	45
08-31-2021	11.40	0.21	1.21	1.42	(0.22)	(0.25)	(0.47)	12.35	12.73	0.45	0.44	1.81	4	34
08-31-2020	11.08	0.26	0.66	0.92	(0.28)	(0.32)	(0.60)	11.40	8.58	0.46	0.44	2.35	1	48
08-31-2019	11.15	0.28	0.28	0.56	(0.29)	(0.34)	(0.63)	11.08	5.58	0.44	0.44	2.56	1	21
Class 1
08-31-2023	10.25	0.28	0.20	0.48	(0.28)	(0.37)	(0.65)	10.08	5.07	0.52	0.50	2.84	238	20
08-31-2022	12.35	0.27	(1.75)	(1.48)	(0.25)	(0.37)	(0.62)	10.25	(12.52)	0.50	0.49	2.38	246	45
08-31-2021	11.40	0.23	1.19	1.42	(0.22)	(0.25)	(0.47)	12.35	12.69	0.49	0.48	1.91	300	34
08-31-2020	11.08	0.26	0.66	0.92	(0.28)	(0.32)	(0.60)	11.40	8.54	0.49	0.48	2.41	257	48
08-31-2019	11.14	0.27	0.29	0.56	(0.28)	(0.34)	(0.62)	11.08	5.64	0.48	0.48	2.55	262	21

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 4-26-21.

⁷ Not annualized.

⁸ Annualized.

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

Table of Contents

Lifestyle Blend 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 ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in millions)	Portfolio turnover (%)
Lifestyle Blend Conservative Portfolio
Class A
08-31-2023	9.71	0.28	0.06	0.34	(0.29)	(0.13)	(0.42)	9.63	3.66⁵	0.95	0.92	2.89	90	26
08-31-2022	11.59	0.26	(1.58)	(1.32)	(0.24)	(0.32)	(0.56)	9.71	(11.88)⁵	0.94	0.92	2.54	60	28
08-31-2021⁶	11.36	0.06	0.22	0.28	(0.05)	—	(0.05)	11.59	2.43^{5, 7}	0.93⁸	0.91⁸	1.53⁸	11	43
Class R6
08-31-2023	9.72	0.31	0.07	0.38	(0.33)	(0.13)	(0.46)	9.64	4.09	0.54	0.51	3.24	7	26
08-31-2022	11.60	0.30	(1.58)	(1.28)	(0.28)	(0.32)	(0.60)	9.72	(11.50)	0.53	0.51	2.84	3	28
08-31-2021	11.19	0.24	0.55	0.79	(0.23)	(0.15)	(0.38)	11.60	7.20	0.53	0.51	2.09	3	43
08-31-2020	10.84	0.21	0.56	0.77	(0.27)	(0.15)	(0.42)	11.19	7.37	0.54	0.51	2.02	2	57
08-31-2019	10.57	0.24	0.47	0.71	(0.28)	(0.16)	(0.44)	10.84	7.09	0.51	0.50	2.35	—⁹	21
Class 1
08-31-2023	9.71	0.31	0.06	0.37	(0.32)	(0.13)	(0.45)	9.63	4.04	0.59	0.56	3.28	189	26
08-31-2022	11.60	0.30	(1.59)	(1.29)	(0.28)	(0.32)	(0.60)	9.71	(11.62)	0.58	0.55	2.80	198	28
08-31-2021	11.18	0.24	0.55	0.79	(0.22)	(0.15)	(0.37)	11.60	7.26	0.57	0.55	2.10	230	43
08-31-2020	10.83	0.27	0.50	0.77	(0.27)	(0.15)	(0.42)	11.18	7.33	0.57	0.54	2.50	199	57
08-31-2019	10.56	0.28	0.43	0.71	(0.28)	(0.16)	(0.44)	10.83	7.05	0.55	0.54	2.73	184	21

¹ Based on average daily shares outstanding.

² Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

⁴ Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

⁵ Does not reflect the effect of sales charges, if any.

⁶ The inception date for Class A shares is 4-26-21.

⁷ Not annualized.

⁸ Annualized.

⁹ Less than $500,000.

SEE NOTES TO FINANCIAL STATEMENTS

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Notes to financial statements

Note 1—Organization

John Hancock Funds II (the Trust) is an open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, five of which are presented in this report (collectively, Lifestyle Blend Portfolios, or the portfolios and individually, the portfolio). The portfolios operate as “funds of funds” that may invest in affiliated underlying funds of the Trust, other funds in the John Hancock group of funds complex, non-John Hancock funds and certain other permitted investments.

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 shares are open to all investors. 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. 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.

The investment objectives of the portfolios are as follows:

Lifestyle Blend Aggressive Portfolio

To seek long-term growth of capital. Current income is not a consideration.

Lifestyle Blend Growth Portfolio

To seek long-term growth of capital. Current income is also a consideration.

Lifestyle Blend Balanced Portfolio

To seek a balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital.

Lifestyle Blend Moderate Portfolio

To seek a balance between a high level of current income and growth of capital, with a greater emphasis on income.

Lifestyle Blend Conservative Portfolio

To seek a high level of current income with some consideration given to growth of capital.

Effective February 1, 2023, the portfolios changed their names as follows:

Current Portfolio Name	Former Portfolio Name
Lifestyle Blend Aggressive Portfolio	Multi-Index Lifestyle Aggressive Portfolio
Lifestyle Blend Growth Portfolio	Multi-Index Lifestyle Growth Portfolio
Lifestyle Blend Balanced Portfolio	Multi-Index Lifestyle Balanced Portfolio
Lifestyle Blend Moderate Portfolio	Multi-Index Lifestyle Moderate Portfolio
Lifestyle Blend Conservative Portfolio	Multi-Index Lifestyle Conservative Portfolio

Note 2—Significant accounting policies

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

The following is a summary of the values by input classification of the portfolios’ investments as of August 31, 2023, by major security category or type:

	Total value at 8-31-23	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Lifestyle Blend Aggressive Portfolio
Investments in securities:
Assets
Affiliated investment companies	$281,558,113	$281,558,113	—	—
Unaffiliated investment companies	204,694,409	204,694,409	—	—
Common stocks	5,882	—	—	$5,882
U.S. Government and Agency obligations	5,330,747	—	$5,330,747	—
Short-term investments	2,786,926	2,786,926	—	—
Total investments in securities	$494,376,077	$489,039,448	$5,330,747	$5,882

Lifestyle Blend Growth Portfolio
Investments in securities:
Assets
Affiliated investment companies	$490,000,810	$490,000,810	—	—
Unaffiliated investment companies	554,763,021	554,763,021	—	—
Common stocks	9,947	—	—	$9,947
U.S. Government and Agency obligations	40,497,517	—	$40,497,517	—
Short-term investments	5,062,904	5,062,904	—	—
Total investments in securities	$1,090,334,199	$1,049,826,735	$40,497,517	$9,947

Lifestyle Blend Balanced Portfolio
Investments in securities:
Assets
Affiliated investment companies	$379,779,022	$379,779,022	—	—
Unaffiliated investment companies	672,324,258	672,324,258	—	—
Common stocks	7,189	—	—	$7,189
U.S. Government and Agency obligations	80,103,777	—	$80,103,777	—
Short-term investments	48,439,726	48,439,726	—	—
Total investments in securities	$1,180,653,972	$1,100,543,006	$80,103,777	$7,189

Lifestyle Blend Moderate Portfolio
Investments in securities:
Assets

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	Total value at 8-31-23	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Lifestyle Blend Moderate Portfolio (continued)
Affiliated investment companies	$75,220,916	$75,220,916	—	—
Unaffiliated investment companies	246,277,895	246,277,895	—	—
Common stocks	1,380	—	—	$1,380
U.S. Government and Agency obligations	26,112,145	—	$26,112,145	—
Short-term investments	25,304,179	25,304,179	—	—
Total investments in securities	$372,916,515	$346,802,990	$26,112,145	$1,380

Lifestyle Blend Conservative Portfolio
Investments in securities:
Assets
Affiliated investment companies	$25,962,873	$25,962,873	—	—
Unaffiliated investment companies	235,190,718	235,190,718	—	—
Common stocks	490	—	—	$490
U.S. Government and Agency obligations	24,653,037	—	$24,653,037	—
Short-term investments	19,978,782	19,978,782	—	—
Total investments in securities	$305,785,900	$281,132,373	$24,653,037	$490

Level 3 includes securities valued at $0. Refer to Portfolios’ investments.

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

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Obligations to repay collateral received by the portfolios are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the portfolios and the corresponding cash collateral received at August 31, 2023. In addition, non-cash collateral in the form of U.S. Treasuries was pledged, as indicated below. This non-cash collateral cannot be sold or repledged by the portfolios, and accordingly, is not reflected in the portfolios’ net assets.

Portfolio	Market value of securities on loan	Cash collateral received	Non-cash collateral
Lifestyle Blend Aggressive Portfolio	$2,738,560	$2,793,340	—
Lifestyle Blend Growth Portfolio	5,027,526	5,128,817	—
Lifestyle Blend Balanced Portfolio	47,616,080	48,592,829	$3,655
Lifestyle Blend Moderate Portfolio	24,618,284	25,167,700	—
Lifestyle Blend Conservative Portfolio	19,607,297	20,022,132	—

Commitment fees for the year ended August 31, 2023 were as follows:

Portfolio	Commitment fee
Lifestyle Blend Aggressive Portfolio	$4,562
Lifestyle Blend Growth Portfolio	6,374
Lifestyle Blend Balanced Portfolio	6,496
Lifestyle Blend Moderate Portfolio	4,125
Lifestyle Blend Conservative Portfolio	3,963

	No Expiration Date
Portfolio	Short Term	Long Term
Lifestyle Blend Aggressive Portfolio	$936,235	—
Lifestyle Blend Growth Portfolio	2,354,990	$4,387,755
Lifestyle Blend Balanced Portfolio	1,518,077	9,228,658
Lifestyle Blend Moderate Portfolio	125,610	2,869,501

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	No Expiration Date
Portfolio	Short Term	Long Term
Lifestyle Blend Conservative Portfolio	$330,530	$2,394,356

For federal income tax purposes, the costs of investments owned on August 31, 2023, including short-term investments, were as follows:

Portfolio	Aggregate cost	Unrealized appreciation	Unrealized (depreciation)	Net unrealized appreciation/ (depreciation)
Lifestyle Blend Aggressive Portfolio	$497,290,140	$7,458,713	$(10,372,776)	$(2,914,063)
Lifestyle Blend Growth Portfolio	1,105,680,186	34,842,554	(50,188,541)	(15,345,987)
Lifestyle Blend Balanced Portfolio	1,223,349,542	31,105,503	(73,801,073)	(42,695,570)
Lifestyle Blend Moderate Portfolio	394,472,788	7,819,005	(29,375,278)	(21,556,273)
Lifestyle Blend Conservative Portfolio	330,458,711	3,916,774	(28,589,585)	(24,672,811)

Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. Lifestyle Blend Balanced Portfolio, Lifestyle Blend Moderate Portfolio and Lifestyle Blend Conservative Portfolio generally declare and pay dividends from net investment income quarterly. All other portfolios generally declare and pay dividends from net investment income annually. All portfolios generally declare and pay capital gain distributions, if any, annually.

The tax character of distributions for the year ended August 31, 2023 was as follows:

Portfolio	Ordinary Income	Long Term Capital Gains	Total
Lifestyle Blend Aggressive Portfolio	$5,764,078	$48,082,253	$53,846,331
Lifestyle Blend Growth Portfolio	17,792,036	95,043,192	112,835,228
Lifestyle Blend Balanced Portfolio	23,719,019	75,778,676	99,497,695
Lifestyle Blend Moderate Portfolio	8,755,989	11,599,857	20,355,846
Lifestyle Blend Conservative Portfolio	8,915,172	3,887,060	12,802,232

The tax character of distributions for the year ended August 31, 2022 was as follows:

Portfolio	Ordinary Income	Long Term Capital Gains	Total
Lifestyle Blend Aggressive Portfolio	$12,801,500	$25,173,069	$37,974,569
Lifestyle Blend Growth Portfolio	27,444,093	44,626,295	72,070,388
Lifestyle Blend Balanced Portfolio	29,831,222	40,158,306	69,989,528
Lifestyle Blend Moderate Portfolio	8,756,124	8,100,871	16,856,995
Lifestyle Blend Conservative Portfolio	7,674,012	5,943,117	13,617,129

Portfolio	Undistributed Ordinary Income
Lifestyle Blend Aggressive Portfolio	$825,870
Lifestyle Blend Growth Portfolio	4,926,043
Lifestyle Blend Balanced Portfolio	3,192,167
Lifestyle Blend Moderate Portfolio	1,380,195
Lifestyle Blend Conservative Portfolio	1,475,723

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Note 3—Guarantees and indemnifications

Note 4—Fees and transactions with affiliates

Management fee. The portfolios have an investment management agreement with the Advisor under which the portfolios pay a daily management fee to the Advisor as detailed below. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, an indirect, wholly owned subsidiary of MFC and an affiliate of the Advisor. The portfolios are not responsible for payment of the subadvisory fees.

Management fees are determined in accordance with the following schedule:

	First $7.5 billion of aggregate net assets	Excess over $7.5 billion of aggregate net assets
Assets in a fund of the Trust or JHF III	0.050%	0.040%
Other assets	0.500%	0.490%

Expense reimbursements. 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 each portfolio exceeds 0.05% of the average net assets of the portfolio. “Other expenses” means all of the expenses of the portfolio, excluding: management 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, class specific expenses, underlying fund expenses (acquired fund fees), and short dividend expense. This expense limitation shall continue in effect until December 31, 2023, unless renewed by mutual agreement of the portfolios and the Advisor.

In addition, the Advisor has voluntarily agreed to waive its advisory fee for each portfolio so that the aggregate advisory fee retained by the Advisor with respect to both the portfolio and its underlying investments after payment of subadvisory fees does not exceed 0.50% of the portfolios’ first $7.5 billion of average net assets and 0.49% of the portfolios’ average net assets in excess of $7.5 billion. The Advisor may terminate this voluntary waiver at any time upon notice to the portfolios.

For the year ended August 31, 2023, the expense reductions under 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 R6	Class 1	Total
Lifestyle Blend Aggressive Portfolio	$4,038	$1,137	$30,356	$35,531
Lifestyle Blend Growth Portfolio	3	5	115	123
Lifestyle Blend Balanced Portfolio	26	4	222	252
Lifestyle Blend Moderate Portfolio	17,269	1,276	49,652	68,197
Lifestyle Blend Conservative Portfolio	23,755	1,378	58,854	83,987

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

Portfolio	Net Annual Effective Rate
Lifestyle Blend Aggressive Portfolio	0.23%
Lifestyle Blend Growth Portfolio	0.29%
Lifestyle Blend Balanced Portfolio	0.34%

Portfolio	Net Annual Effective Rate
Lifestyle Blend Moderate Portfolio	0.38%
Lifestyle Blend Conservative Portfolio	0.42%

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Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the portfolios. 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
Class A	0.30%
Class 1	0.05%

	Lifestyle Blend Aggressive Portfolio	Lifestyle Blend Growth Portfolio	Lifestyle Blend Balanced Portfolio	Lifestyle Blend Moderate Portfolio	Lifestyle Blend Conservative Portfolio
Total sales charges	$3,307	$4,029	$5,772	$921	$10,080
Retained for printing prospectus, advertising and sales literature	561	692	935	142	2,044
Sales commission to unrelated broker-dealers	2,746	3,337	4,837	779	8,036

Portfolio	Class A
Lifestyle Blend Growth Portfolio	$9

Class level expenses. Class level expenses for the year ended August 31, 2023 were as follows:

Portfolio	Class	Distribution and service fees	Transfer agent fees
Lifestyle Blend Aggressive Portfolio	Class A	$152,712	$58,762
	Class R6	—	1,087
	Class 1	200,021	—
	Total	$352,733	$59,849
Lifestyle Blend Growth Portfolio	Class A	$353,407	$136,185
	Class R6	—	1,882
	Class 1	442,812	—
	Total	$796,219	$138,067
Lifestyle Blend Balanced Portfolio	Class A	$538,315	$207,584
	Class R6	—	1,318
	Class 1	432,900	—
	Total	$971,215	$208,902
Lifestyle Blend Moderate Portfolio	Class A	$241,145	$93,037
	Class R6	—	442
	Class 1	120,515	—
	Total	$361,660	$93,479
Lifestyle Blend Conservative Portfolio	Class A	$233,715	$90,074
	Class R6	—	304
	Class 1	98,541	—
	Total	$332,256	$90,378

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

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Note 5—Portfolio share transactions

Transactions in portfolios’ shares for the years ended August 31, 2023 and 2022 were as follows:

Lifestyle Blend Aggressive Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	3,058,325	$34,267,280	4,125,877	$56,326,325
Distributions reinvested	516,573	5,315,539	140,010	2,003,541
Repurchased	(1,793,310)	(20,121,992)	(1,183,748)	(15,564,432)
Net increase	1,781,588	$19,460,827	3,082,139	$42,765,434
Class R6 shares
Sold	408,252	$4,506,483	721,627	$9,635,790
Distributions reinvested	158,946	1,633,965	65,388	935,046
Repurchased	(263,026)	(2,867,870)	(413,498)	(5,325,653)
Net increase	304,172	$3,272,578	373,517	$5,245,183
Class 1 shares
Sold	2,854,812	$32,067,123	1,859,001	$24,774,297
Distributions reinvested	4,566,348	46,896,397	2,451,775	35,035,864
Repurchased	(4,559,536)	(50,796,693)	(3,831,817)	(51,998,846)
Net increase	2,861,624	$28,166,827	478,959	$7,811,315
Total net increase	4,947,384	$50,900,232	3,934,615	$55,821,932

Lifestyle Blend Growth Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	8,797,792	$96,550,300	8,185,255	$107,173,336
Distributions reinvested	1,149,935	11,648,838	245,890	3,383,450
Repurchased	(3,388,710)	(36,881,303)	(2,482,465)	(31,348,545)
Net increase	6,559,017	$71,317,835	5,948,680	$79,208,241
Class R6 shares
Sold	514,163	$5,531,542	750,550	$9,379,375
Distributions reinvested	263,378	2,668,019	100,604	1,385,322
Repurchased	(313,334)	(3,377,318)	(221,437)	(2,901,268)
Net increase	464,207	$4,822,243	629,717	$7,863,429
Class 1 shares
Sold	4,374,960	$47,922,509	3,501,965	$45,567,881
Distributions reinvested	9,744,356	98,515,443	4,894,656	67,301,517
Repurchased	(9,211,471)	(100,139,610)	(8,540,580)	(112,159,636)
Net increase (decrease)	4,907,845	$46,298,342	(143,959)	$709,762
Total net increase	11,931,069	$122,438,420	6,434,438	$87,781,432

Lifestyle Blend Balanced Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	14,862,363	$153,383,150	12,452,458	$150,689,139
Distributions reinvested	1,539,079	14,987,629	346,418	4,343,222
Repurchased	(5,716,880)	(58,816,397)	(3,295,718)	(38,646,063)
Net increase	10,684,562	$109,554,382	9,503,158	$116,386,298
Class R6 shares
Sold	543,367	$5,518,878	331,329	$3,837,817
Distributions reinvested	165,346	1,610,666	89,685	1,129,499
Repurchased	(233,349)	(2,386,174)	(305,821)	(3,678,333)
Net increase	475,364	$4,743,370	115,193	$1,288,983

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Lifestyle Blend Balanced Portfolio , Cont’d	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class 1 shares
Sold	5,664,840	$58,310,318	3,743,294	$44,052,205
Distributions reinvested	8,523,999	82,881,884	5,121,752	64,509,406
Repurchased	(9,311,827)	(96,171,715)	(9,594,117)	(117,146,364)
Net increase (decrease)	4,877,012	$45,020,487	(729,071)	$(8,584,753)
Total net increase	16,036,938	$159,318,239	8,889,280	$109,090,528

Lifestyle Blend Moderate Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	7,019,249	$69,961,193	6,079,218	$68,475,220
Distributions reinvested	462,386	4,455,606	143,574	1,661,090
Repurchased	(2,681,662)	(26,721,917)	(2,075,531)	(22,676,098)
Net increase	4,799,973	$47,694,882	4,147,261	$47,460,212
Class R6 shares
Sold	200,496	$1,994,749	186,695	$2,100,968
Distributions reinvested	37,075	357,524	21,996	255,860
Repurchased	(53,138)	(528,081)	(36,890)	(424,458)
Net increase	184,433	$1,824,192	171,801	$1,932,370
Class 1 shares
Sold	2,437,966	$24,418,099	2,268,359	$25,663,683
Distributions reinvested	1,612,704	15,526,684	1,279,965	14,930,227
Repurchased	(4,366,463)	(43,429,354)	(3,850,681)	(43,470,223)
Net decrease	(315,793)	$(3,484,571)	(302,357)	$(2,876,313)
Total net increase	4,668,613	$46,034,503	4,016,705	$46,516,269

Lifestyle Blend Conservative Portfolio	Year Ended 8-31-23		Year Ended 8-31-22
	Shares	Amount	Shares	Amount
Class A shares
Sold	6,225,239	$59,447,725	7,073,008	$74,855,657
Distributions reinvested	344,324	3,221,677	151,037	1,613,309
Repurchased	(3,360,055)	(32,107,093)	(1,987,969)	(20,542,617)
Net increase	3,209,508	$30,562,309	5,236,076	$55,926,349
Class R6 shares
Sold	367,049	$3,509,314	119,508	$1,219,255
Distributions reinvested	19,702	184,977	14,038	152,033
Repurchased	(44,938)	(432,774)	(59,987)	(654,259)
Net increase	341,813	$3,261,517	73,559	$717,029
Class 1 shares
Sold	2,714,081	$25,891,175	2,949,270	$31,320,497
Distributions reinvested	1,004,760	9,382,936	1,091,698	11,844,103
Repurchased	(4,480,672)	(42,893,009)	(3,442,853)	(36,536,084)
Net increase (decrease)	(761,831)	$(7,618,898)	598,115	$6,628,516
Total net increase	2,789,490	$26,204,928	5,907,750	$63,271,894

Affiliates of the Trust owned 100% of shares of Class 1 on August 31, 2023. Such concentration of shareholders’ capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

Note 6—Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the year ended August 31, 2023:

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

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	Purchases		Sales
Portfolio	U.S. Government	Other issuers	U.S. Government	Other issuers
Lifestyle Blend Aggressive Portfolio	$3,243,839	$76,407,299	$1,777,831	$71,556,002
Lifestyle Blend Growth Portfolio	21,813,444	162,194,004	15,589,635	136,374,441
Lifestyle Blend Balanced Portfolio	39,157,765	209,071,162	29,997,817	133,570,764
Lifestyle Blend Moderate Portfolio	12,913,357	88,219,155	9,510,887	56,903,587
Lifestyle Blend Conservative Portfolio	11,684,127	82,296,467	9,354,841	63,090,901

Note 7—Investment in affiliated underlying funds

Certain 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 affiliated underlying funds’ net assets. At August 31, 2023, the following portfolios held 5% or more of the net assets of the affiliated underlying funds shown below:

Portfolio	Affiliated Fund	Percentage of underlying fund net assets
Lifestyle Blend Growth Portfolio	John Hancock Funds II U.S. Sector Rotation Fund	8.4%
Lifestyle Blend Growth Portfolio	John Hancock Funds II International Strategic Equity Allocation Fund	6.5%
Lifestyle Blend Balanced Portfolio	John Hancock Funds II U.S. Sector Rotation Fund	6.6%
Lifestyle Blend Balanced Portfolio	John Hancock Funds II International Strategic Equity Allocation 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, if any, is as follows:

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Lifestyle Blend Aggressive Portfolio
International Strategic Equity Allocation	13,884,613	$110,269,765	$19,128,458	$(10,487,360)	$(1,035,299)	$10,834,801	$2,664,969	—	$128,710,365
John Hancock Collateral Trust*	278,787	1,640,245	154,509,763	(153,360,569)	(3,444)	931	16,358	—	2,786,926
U.S. Sector Rotation	15,921,640	145,043,629	9,236,739	(18,626,600)	(2,090,705)	19,284,685	1,403,393	$2,446,577	152,847,748
					$(3,129,448)	$30,120,417	$4,084,720	$2,446,577	$284,345,039
Lifestyle Blend Growth Portfolio
International Strategic Equity Allocation	24,010,111	$191,236,887	$28,191,448	$(14,108,628)	$(1,300,253)	$18,554,275	$4,597,537	—	$222,573,729
John Hancock Collateral Trust*	506,463	33,321,704	629,911,522	(658,171,677)	(7,865)	9,220	397,088	—	5,062,904
U.S. Sector Rotation	27,856,988	249,004,767	14,123,584	(25,928,014)	(2,814,184)	33,040,928	2,428,018	$4,232,838	267,427,081
					$(4,122,302)	$51,604,423	$7,422,643	$4,232,838	$495,063,714
Lifestyle Blend Balanced Portfolio
International Strategic Equity Allocation	18,395,230	$142,932,974	$24,939,509	$(10,610,023)	$(848,583)	$14,109,909	$3,432,067	—	$170,523,786
John Hancock Collateral Trust*	4,845,620	89,371,209	701,435,264	(742,350,343)	(36,199)	19,795	818,235	—	48,439,726
U.S. Sector Rotation	21,797,420	184,727,022	15,876,970	(14,717,030)	(1,773,632)	25,141,906	1,836,484	$3,201,598	209,255,236
					$(2,658,414)	$39,271,610	$6,086,786	$3,201,598	$428,218,748

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of John Hancock Funds II and Shareholders of Lifestyle Blend Aggressive Portfolio, Lifestyle Blend Growth Portfolio, Lifestyle Blend Balanced Portfolio, Lifestyle Blend Moderate Portfolio and Lifestyle Blend Conservative Portfolio

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the portfolios’ investments, of Lifestyle Blend Aggressive Portfolio, Lifestyle Blend Growth Portfolio, Lifestyle Blend Balanced Portfolio, Lifestyle Blend Moderate Portfolio and Lifestyle Blend Conservative Portfolio (five of the funds constituting John Hancock Funds II, hereafter collectively referred to as the "Portfolios") as of August 31, 2023, the related statements of operations for the year ended August 31, 2023, the statements of changes in net assets for each of the two years in the period ended August 31, 2023, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Portfolios as of August 31, 2023, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended August 31, 2023 and each of the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2023 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

October 4, 2023

We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.

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Tax information

(Unaudited)

For federal income tax purposes, the following information is furnished with respect to the distributions of the portfolios, if any, paid during its taxable year ended August 31, 2023.

Dividend Received Deduction Each portfolio reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.

Qualified Dividend Income Each portfolio reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.

Each portfolio reports the maximum amount allowable as Section 163(j) Interest Dividends

Each portfolio reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).

The portfolios below have the following amounts as foreign tax credits, which represent taxes paid on the income derived from foreign sources:

Portfolio	Foreign sourced income	Foreign tax credit
Lifestyle Blend Aggressive Portfolio	$3,801,044	$507,330
Lifestyle Blend Growth Portfolio	6,654,866	873,757
Lifestyle Blend Balanced Portfolio	4,881,976	632,216
Lifestyle Blend Moderate Portfolio	966,085	121,402

Long Term Capital Gains The portfolios below paid the following amounts in capital gain dividends:

Portfolio	Long term capital gains
Lifestyle Blend Aggressive Portfolio	$48,082,253
Lifestyle Blend Growth Portfolio	95,043,192
Lifestyle Blend Balanced Portfolio	75,778,676
Lifestyle Blend Moderate Portfolio	11,599,857
Lifestyle Blend Conservative Portfolio	3,887,060

Eligible shareholders will be mailed a 2023 Form 1099-DIV in early 2024. This will reflect the tax character of all distributions paid in calendar year 2023.

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

JOHN HANCOCK LIFESTYLE BLEND PORTFOLIOS | ANNUAL REPORT

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EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES

Approval of Advisory and Subadvisory Agreements

In considering the Advisory Agreement and the Subadvisory Agreement with respect to each Fund, the Board received in advance of the meetings a variety of materials relating to each Fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for peer groups of similar funds prepared by an independent third-party provider of fund data; performance information for the Funds’ benchmark indices; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable; and other information provided by the Advisor and the Subadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor 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 Agreement 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 Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the Funds, including quarterly performance reports prepared by management containing reviews of investment results, and prior presentations from the Subadvisor with respect to the Funds. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the services to be provided to the Funds by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the Funds. In addition, although the Board approved the renewal of the Agreements for all of the Funds at the June meeting, the Board considered each Fund separately.

Approval of Advisory Agreement

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 observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund’s compliance programs, risk management programs, liquidity management programs, derrivatives risk management programs, and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. 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 Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the Funds including entrepreneurial risk in sponsoring new Funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all Funds.

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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 Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s 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;