John Hancock ESG Large Cap Core Fund · 2020. 6. 10. · Together with the value of your account,you may use this information to estimate the operating expenses that you paid over

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John Hancock

ESG Large Cap Core Fund

Semiannual report 4/30/2020 ESG

Beginning on January 1,2021,as permitted by regulations adopted by the Securities and Exchange Commission,paper copies of the fund’s shareholder reports like this one will no longer be sent by mail, unless you specificallyrequest paper copies of the reports from the fund or from your financial intermediary. Instead, the reports willbe made available on a website, and you will be notified by mail each time a report is posted and providedwith a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change, andyou do not need to take any action. You may elect to receive shareholder reports and other communicationselectronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares)or 888-972-8696 (Class I and Class R6 shares) or by contacting your financial intermediary.

You may elect to receive all reports in paper, free of charge, at any time.You can inform John Hancock InvestmentManagement or your financial intermediary that you wish to continue receiving paper copies of your shareholderreports by following the instructions listed above. Your election to receive reports in paper will apply to all fundsheld with John Hancock Investment Management or your financial intermediary.

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Dear shareholder,

The U.S. financial markets were on pace to deliver strong returns during the 6 months endedApril 30,2020,until heightened fears over the coronavirus (COVID-19) sent markets tumblingduring the latter half of February and early March.

In response to the sell-off, the U.S. Federal Reserve acted quickly with a broad array of actionsto limit the economic damage from the pandemic, including up to $2.3 trillion in lending tosupport households, employers, financial markets, and state and local governments. Thesesteps, along with the passage of an estimated $2 trillion federal economic stimulus bill, helpedlift the markets during the final month of the period.

The continued spread of COVID-19, trade disputes, rising unemployment, and othergeopolitical tensions may continue to create uncertainty among businesses and investors.Your financial professional can help position your portfolio so that it’s sufficiently diversified toseek to meet your long-term objectives and to withstand the inevitable bouts of marketvolatility along the way.

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

Sincerely,

Andrew G. ArnottPresident and CEO,John Hancock Investment ManagementHead of Wealth and Asset Management,United States and Europe

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.

A message to shareholders

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John HancockESG Large Cap Core Fund

Table of contents

2 Your fund at a glance

3 Portfolio summary

4 A look at performance

6 Your expenses

8 Fund’s investments

12 Financial statements

15 Financial highlights

19 Notes to financial statements

25 Statement regarding liquidity risk management

28 More information

SEMIANNUAL REPORT | JOHN HANCOCK ESG LARGE CAP CORE FUND 1

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INVESTMENT OBJECTIVE

The fund seeks long-term capital appreciation.

TOTAL RETURNS AS OF 4/30/2020 (%)

Since inception(6/6/16)

3 year1 year6 month(cumulative)

–3.16

–5.47 –5.86

–1.38

–2.84

0.86

8.65

6.48

9.04 9.45

10.95

�

�

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Class A shares (without sales charge)S&P 500 IndexMorningstar large blend fund category average

The S&P 500 Index is an unmanaged index that includes 500 widely traded common stocks.It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges,whichwould result in lower returns.Figures from Morningstar, Inc. include reinvested distributions and do not take into account salescharges.Actual load-adjusted performance is lower. Since-inception returns for the Morningstar fundcategory average are not available.On January 30,2020, it was announced that the fund’s subadvisor, Trillium Asset Management, LLC,wasbeing purchased by Perpetual Limited. The change in control is expected to take place on or about June30,2020. It is expected to have no effect on the objectives of the fund or on the personnel whomanage it.The past performance shown here reflects reinvested distributions and the beneficial effect of anyexpense reductions, and does not guarantee future results. Returns for periods shorter than one yearare cumulative. Performance of the other share classes will vary based on the difference in the fees andexpenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more orless than their original cost. Current month-end performance may be lower or higher than theperformance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For furtherinformation on the fund’s objectives, risks, and strategy, see the fund’s prospectus. The fund recentlyexperienced negative short-term performance due to market volatility associated with the COVID-19pandemic.

Your fund at a glance

JOHN HANCOCK ESG LARGE CAP CORE FUND | SEMIANNUAL REPORT2

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SECTOR COMPOSITION AS OF 4/30/2020 (%)

Information technology

Health care

Financials

Consumer discretionary

Communication services

Industrials

Consumer staples

Real estate

Materials

Utilities

Energy

Short-term investments and other

As a percentage of net assets.

26.9

15.3

11.0

10.7

10.1

9.2

7.0

4.5

2.0

1.9

0.9

0.5

TOP 10 HOLDINGS AS OF 4/30/2020 (%)

Microsoft Corp. 6.3Apple, Inc. 5.2Alphabet, Inc.,Class A 4.9Mastercard, Inc.,Class A 3.5Verizon Communications, Inc. 2.5Merck & Company, Inc. 2.4PayPal Holdings, Inc. 2.2Bank of America Corp. 2.1American Tower Corp. 2.1Facebook, Inc.,Class A 2.1TOTAL 33.3

As a percentage of net assets.Cash and cash equivalents are not included.

A note about risks

The fund may be subject to various risks as described in the fund’s prospectus.A widespread health crisissuch as a global pandemic could cause substantial market volatility, exchange trading suspensions andclosures, impact the ability to complete redemptions, and affect fund performance. For example, the novelcoronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. Theimpact of a health crisis and other epidemics and pandemics that may arise in the future, could affect theglobal economy in ways that cannot necessarily be foreseen at the present time.A health crisis mayexacerbate other pre-existing political, social, and economic risks.Any such impact could adversely affectthe funds’ performance, resulting in losses to your investment. For more information, please refer to the“Principal risks” section of the prospectus.

Portfolio summary


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TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020

Average annual total returns (%)with maximum sales charge

Cumulative total returns (%)with maximum sales charge

1-yearSince

inception1 6-monthSince

inception1

Class A –6.31 8.01 –10.18 35.08

Class C –3.08 8.64 –6.75 38.18

Class I2 –1.09 9.73 –5.32 43.65

Class R62 –0.99 9.86 –5.22 44.31

Index† 0.86 10.95 –3.16 50.00

Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class Ashares of 5%, and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares soldwithin one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I and ClassR6 shares.The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excludingany fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectusfor the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflectcontractual expense limitations in effect until February 28, 2021 and are subject to change. Had the contractual feewaivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

Class A Class C Class I Class R6Gross (%) 1.48 2.23 1.23 1.12Net (%) 1.18 1.93 0.93 0.82

Please refer to the most recent prospectus and annual or semiannual report for more information on expenses andany expense limitation arrangements for each class.The returns reflect past results and should not be considered indicative of future performance. The return andprincipal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than theiroriginal cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower thanthe performance shown. For current to the most recent month-end performance data, please call 800–225–5291 orvisit the fund’s website at jhinvestments.com.The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholderwould pay on fund distributions or the redemption of fund shares. The fund’s performance results reflect anyapplicable fee waivers or expense reductions, without which the expenses would increase and results would havebeen less favorable.

† Index is the S&P 500 Index.See the following page for footnotes.

A look at performance


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This chart and table show what happened to a hypothetical $10,000 investment inJohn Hancock ESG Large Cap Core Fund for the share classes and periods indicated,assuming all distributions were reinvested. For comparison,we’ve shown the sameinvestment in the S&P 500 Index.

Class A shares (with maximum sales charge)Class A shares (without sales charges)S&P 500 Index

$15,000$14,224$13,508

Ending values 4-30-20

10,0009,500

8,000

$17,000

4-30-2010-184-1810-174-1710-166-6-16 10-194-19

Start dateWith maximumsales charge ($)

Withoutsales charge ($) Index ($)

Class C3 6-6-16 13,818 13,818 15,000

Class I2 6-6-16 14,365 14,365 15,000

Class R62 6-6-16 14,431 14,431 15,000

The S&P 500 Index is an unmanaged index that includes 500 widely traded common stocks.It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which wouldresult in lower returns.Footnotes related to performance pages

1 From 6-6-2016.2 For certain types of investors as described in the fund’s prospectus.3 The contingent deferred sales charge is not applicable.


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

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

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

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

We are presenting only your ongoing operating expenses here.

Actual expenses/actual returnsThe first line of each share class in the table on the following page is intended toprovide information about the fund’s actual ongoing operating expenses, and isbased on the fund’s actual return. It assumes an account value of $1,000.00 onNovember 1, 2019, with the same investment held until April 30, 2020.

Together with the value of your account, you may use this information to estimatethe operating expenses that you paid over the period. Simply divide your accountvalue at April 30, 2020, by $1,000.00, then multiply it by the “expenses paid” foryour share class from the table. For example, for an account value of $8,600.00,the operating expenses should be calculated as follows:

Hypothetical example for comparison purposesThe second line of each share class in the table on the following page allows youto compare the fund’s ongoing operating expenses with those of any other fund. Itprovides an example of the fund’s hypothetical account values and hypotheticalexpenses based on each class’s actual expense ratio and an assumed 5%annualized return before expenses (which is not the class’s actual return). Itassumes an account value of $1,000.00 on November 1, 2019, with the sameinvestment held until April 30, 2020. Look in any other fund shareholder report tofind its hypothetical example and you will be able to compare these expenses.

Your expenses

6 JOHN HANCOCK ESG LARGE CAP CORE FUND | SEMIANNUAL REPORT

Please remember that these hypothetical account values and expenses may not beused to estimate the actual ending account balance or expenses you paid for theperiod.

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

SHAREHOLDER EXPENSE EXAMPLE CHART

Accountvalue on

11-1-2019

Endingvalue on

4-30-2020

Expensespaid during

period ended4-30-20201

Annualizedexpense

ratio

Class A Actual expenses/actual returns $1,000.00 $ 945.30 $5.76 1.19%Hypothetical example 1,000.00 1,018.90 5.97 1.19%

Class C Actual expenses/actual returns 1,000.00 941.90 9.37 1.94%Hypothetical example 1,000.00 1,015.20 9.72 1.94%

Class I Actual expenses/actual returns 1,000.00 946.80 4.55 0.94%Hypothetical example 1,000.00 1,020.20 4.72 0.94%

Class R6 Actual expenses/actual returns 1,000.00 947.80 3.97 0.82%Hypothetical example 1,000.00 1,020.80 4.12 0.82%

1 Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period,multiplied by 182/366 (to reflect the one-half year period).


AS OF 4-30-20 (unaudited)Shares Value

Common stocks 99.5% $55,879,127(Cost $47,466,565)

Communication services 10.1% 5,683,655

Diversified telecommunication services 2.5%

Verizon Communications, Inc. 24,768 1,422,922

Interactive media and services 7.0%

Alphabet, Inc., Class A (A) 2,051 2,762,082

Facebook, Inc., Class A (A) 5,617 1,149,856

Media 0.6%

Omnicom Group, Inc. 6,116 348,795

Consumer discretionary 10.7% 6,029,070

Hotels, restaurants and leisure 1.0%

Starbucks Corp. 6,954 533,580

Internet and direct marketing retail 1.1%

Booking Holdings, Inc. (A) 428 633,684

Multiline retail 1.8%

Target Corp. 9,058 994,025

Specialty retail 4.9%

The Home Depot, Inc. 4,458 980,002

The TJX Companies, Inc. 18,901 927,094

Tractor Supply Company 8,541 866,314

Textiles, apparel and luxury goods 1.9%

NIKE, Inc., Class B 12,553 1,094,371

Consumer staples 7.0% 3,913,189

Food and staples retailing 2.7%

Costco Wholesale Corp. 3,121 945,663

Sysco Corp. 9,910 557,636

Food products 1.1%

McCormick & Company, Inc. 3,852 604,148

Household products 1.6%

The Procter & Gamble Company 7,507 884,850

Personal products 1.6%

Unilever NV, NYRS 18,634 920,892

Energy 0.9% 504,408

Oil, gas and consumable fuels 0.9%

EOG Resources, Inc. 5,367 254,986

Marathon Petroleum Corp. 7,775 249,422

Fund’s investments

8 JOHN HANCOCK ESG LARGE CAP CORE FUND | SEMIANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS

Shares Value

Financials 11.0% $6,154,337

Banks 6.7%

Bank of America Corp. 49,946 1,201,201

First Republic Bank 7,784 811,793

KeyCorp 67,673 788,390

The PNC Financial Services Group, Inc. 8,684 926,322

Capital markets 0.9%

The Bank of New York Mellon Corp. 13,730 515,424

Insurance 3.4%

Aflac, Inc. 15,906 592,339

Lincoln National Corp. 12,963 459,798

The Travelers Companies, Inc. 8,488 859,070

Health care 15.3% 8,610,258

Health care equipment and supplies 5.0%

Baxter International, Inc. 12,268 1,089,153

Becton, Dickinson and Company 2,122 535,869

Medtronic PLC 6,401 624,930

Stryker Corp. 3,103 578,492

Health care providers and services 3.5%

Cigna Corp. 3,994 781,945

CVS Health Corp. 10,984 676,065

Quest Diagnostics, Inc. 4,529 498,688

Life sciences tools and services 2.6%

Illumina, Inc. (A) 1,819 580,316

IQVIA Holdings, Inc. (A) 6,241 889,904

Pharmaceuticals 4.2%

AstraZeneca PLC, ADR 18,081 945,275

Johnson & Johnson 277 41,561

Merck & Company, Inc. 17,243 1,368,060

Industrials 9.2% 5,142,760

Air freight and logistics 1.2%

United Parcel Service, Inc., Class B 6,901 653,249

Building products 1.3%

Trane Technologies PLC 8,228 719,292

Commercial services and supplies 1.0%

Waste Management, Inc. 5,760 576,115

Electrical equipment 2.9%

Eaton Corp. PLC 10,146 847,191

Rockwell Automation, Inc. 3,941 746,741

Machinery 1.8%

Deere & Company 2,158 313,039

Ingersoll Rand, Inc. (A) 7,138 207,573

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT | JOHN HANCOCK ESG LARGE CAP CORE FUND 9

Shares Value

Industrials (continued)

Machinery (continued)

Xylem, Inc. 7,115 $511,569

Road and rail 1.0%

J.B. Hunt Transport Services, Inc. 5,617 567,991

Information technology 26.9% 15,134,046

Communications equipment 1.0%

Cisco Systems, Inc. 13,962 591,710

IT services 5.7%

Mastercard, Inc., Class A 7,133 1,961,361

PayPal Holdings, Inc. (A) 10,128 1,245,744

Semiconductors and semiconductor equipment 3.8%

ASML Holding NV, NYRS 2,193 632,527

First Solar, Inc. (A) 6,384 280,960

NXP Semiconductors NV 4,280 426,160

Texas Instruments, Inc. 6,829 792,642

Software 11.2%

Adobe, Inc. (A) 3,103 1,097,345

Autodesk, Inc. (A) 5,153 964,281

Microsoft Corp. 19,793 3,547,103

Palo Alto Networks, Inc. (A) 3,441 676,191

Technology hardware, storage and peripherals 5.2%

Apple, Inc. 9,932 2,918,022

Materials 2.0% 1,140,814

Chemicals 2.0%

Ecolab, Inc. 3,227 624,425

International Flavors & Fragrances, Inc. 3,941 516,389

Real estate 4.5% 2,519,229

Equity real estate investment trusts 3.9%

American Tower Corp. 4,939 1,175,482

AvalonBay Communities, Inc. 2,372 386,517

Prologis, Inc. 6,936 618,899

Real estate management and development 0.6%

CBRE Group, Inc., Class A (A) 7,881 338,331

Utilities 1.9% 1,047,361

Electric utilities 0.8%

Avangrid, Inc. 10,128 435,504

Water utilities 1.1%

American Water Works Company, Inc. 5,028 611,857


Yield (%) Shares Value

Short-term investments 0.2% $95,989(Cost $95,989)

Short-term funds 0.2% 95,989Federated Government Obligations Fund, Institutional Class 0.2086(B) 95,989 95,989

Total investments (Cost $47,562,554) 99.7% $55,975,116

Other assets and liabilities, net 0.3% 184,534

Total net assets 100.0% $56,159,650

The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.

Security Abbreviations and Legend

ADR American Depositary Receipt

NYRS New York Registry Shares

(A) Non-income producing security.

(B) The rate shown is the annualized seven-day yield as of 4-30-20.

At 4-30-20, the aggregate cost of investments for federal income tax purposes was $47,618,672. Net unrealized appreciationaggregated to $8,356,444, of which $11,104,290 related to gross unrealized appreciation and $2,747,846 related to grossunrealized depreciation.


STATEMENT OF ASSETS AND LIABILITIES 4-30-20 (unaudited)

AssetsUnaffiliated investments, at value (Cost $47,562,554) $55,975,116Dividends and interest receivable 59,008Receivable for fund shares sold 125,314Receivable from affiliates 367Other assets 59,664Total assets 56,219,469LiabilitiesPayable for fund shares repurchased 7,882Payable to affiliates

Accounting and legal services fees 3,387Transfer agent fees 5,881Trustees’ fees 228

Other liabilities and accrued expenses 42,441Total liabilities 59,819Net assets $56,159,650Net assets consist ofPaid-in capital $47,016,718Total distributable earnings (loss) 9,142,932Net assets $56,159,650

Net asset value per shareBased on net asset value and shares outstanding - the fund has an unlimited number of shares

authorized with no par valueClass A ($6,326,183 ÷ 467,843 shares)1 $13.52Class C ($2,551,164 ÷ 191,529 shares)1 $13.32Class I ($46,583,878 ÷ 3,440,011 shares) $13.54Class R6 ($698,425 ÷ 51,556 shares) $13.55Maximum offering price per shareClass A (net asset value per share ÷ 95%)2 $14.23

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.

Financial statements


STATEMENT OF OPERATIONS For the six months ended 4-30-20 (unaudited)

Investment incomeDividends $550,548Interest 5,361Total investment income 555,909ExpensesInvestment management fees 239,187Distribution and service fees 24,083Accounting and legal services fees 5,651Transfer agent fees 39,200Trustees’ fees 716Custodian fees 17,470State registration fees 32,013Printing and postage 10,376Professional fees 25,222Other 8,101Total expenses 402,019Less expense reductions (80,386)Net expenses 321,633Net investment income 234,276Realized and unrealized gain (loss)Net realized gain (loss) onUnaffiliated investments 638,904

638,904Change in net unrealized appreciation (depreciation) ofUnaffiliated investments (4,326,950)

(4,326,950)Net realized and unrealized loss (3,688,046)Decrease in net assets from operations $(3,453,770)


STATEMENTS OF CHANGES IN NET ASSETS

Six months ended4-30-20

(unaudited)Year ended

10-31-19Increase (decrease) in net assetsFrom operationsNet investment income $234,276 $414,551Net realized gain 638,904 556,503Change in net unrealized appreciation (depreciation) (4,326,950) 7,312,289Increase (decrease) in net assets resulting from operations (3,453,770) 8,283,343Distributions to shareholdersFrom earningsClass A (126,313) (132,155)Class C (20,436) (27,487)Class I (776,655) (966,307)Class R6 (28,490) (35,007)Total distributions (951,894) (1,160,956)From fund share transactions (4,276,261) 5,982,348Total increase (decrease) (8,681,925) 13,104,735Net assetsBeginning of period 64,841,575 51,736,840End of period $56,159,650 $64,841,575


CLASS A SHARES Period ended 4-30-201 10-31-19 10-31-18 10-31-17 10-31-162

Per share operating performanceNet asset value, beginning of period $14.48 $12.79 $11.81 $10.11 $10.00Net investment income3 0.04 0.07 0.06 0.07 0.04Net realized and unrealized gain (loss) on

investments (0.81) 1.88 1.04 1.71 0.07Total from investment operations (0.77) 1.95 1.10 1.78 0.11Less distributionsFrom net investment income (0.07) (0.05) (0.03) (0.08) —From net realized gain (0.12) (0.21) (0.09) — —Total distributions (0.19) (0.26) (0.12) (0.08) —Net asset value, end of period $13.52 $14.48 $12.79 $11.81 $10.11Total return (%)4,5 (5.47)6 15.59 9.41 17.68 1.106

Ratios and supplemental dataNet assets, end of period (in millions) $6 $9 $6 $6 $4Ratios (as a percentage of average net

assets):Expenses before reductions 1.447 1.47 1.55 2.23 2.737

Expenses including reductions 1.197 1.18 1.17 1.18 1.197

Net investment income 0.557 0.54 0.46 0.59 0.647,8

Portfolio turnover (%) 14 21 22 17 23

1 Six months ended 4-30-20. Unaudited.2 Period from 6-6-16 (commencement of operations) to 10-31-16.3 Based on average daily shares outstanding.4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.5 Does not reflect the effect of sales charges, if any.6 Not annualized.7 Annualized.8 A portion of income is presented unannualized.

Financial highlights


CLASS C SHARES Period ended 4-30-201 10-31-19 10-31-18 10-31-17 10-31-162

Per share operating performanceNet asset value, beginning of period $14.26 $12.64 $11.73 $10.08 $10.00Net investment income (loss)3 (0.01) (0.03) (0.04) (0.02) 0.01Net realized and unrealized gain (loss) on

investments (0.81) 1.86 1.04 1.70 0.07Total from investment operations (0.82) 1.83 1.00 1.68 0.08Less distributionsFrom net investment income — — — (0.03) —From net realized gain (0.12) (0.21) (0.09) — —Total distributions (0.12) (0.21) (0.09) (0.03) —Net asset value, end of period $13.32 $14.26 $12.64 $11.73 $10.08Total return (%)4,5 (5.81)6 14.78 8.61 16.75 0.806




Net investment loss (0.18)7 (0.21) (0.30) (0.16) (0.11)7,8


1 Six months ended 4-30-20. Unaudited.2 Period from 6-6-16 (commencement of operations) to 10-31-16.3 Based on average daily shares outstanding.4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.5 Does not reflect the effect of sales charges, if any.6 Not annualized.7 Annualized.8 A portion of income is presented unannualized.


CLASS I SHARES Period ended 4-30-201 10-31-19 10-31-18 10-31-17 10-31-162


investments (0.81) 1.87 1.04 1.73 0.07Total from investment operations (0.75) 1.98 1.13 1.81 0.12Less distributionsFrom net investment income (0.10) (0.08) (0.06) (0.09) —From net realized gain (0.12) (0.21) (0.09) — —Total distributions (0.22) (0.29) (0.15) (0.09) —Net asset value, end of period $13.54 $14.51 $12.82 $11.84 $10.12Total return (%)4 (5.32)5 15.86 9.64 18.02 1.205






1 Six months ended 4-30-20. Unaudited.2 Period from 6-6-16 (commencement of operations) to 10-31-16.3 Based on average daily shares outstanding.4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.5 Not annualized.6 Annualized.7 A portion of income is presented unannualized.


CLASS R6 SHARES Period ended 4-30-201 10-31-19 10-31-18 10-31-17 10-31-162


investments (0.81) 1.87 1.04 1.71 0.07Total from investment operations (0.74) 1.99 1.14 1.82 0.13Less distributionsFrom net investment income (0.11) (0.09) (0.07) (0.10) —From net realized gain (0.12) (0.21) (0.09) — —Total distributions (0.23) (0.30) (0.16) (0.10) —Net asset value, end of period $13.55 $14.52 $12.83 $11.85 $10.13Total return (%)4 (5.22)5 15.97 9.76 18.09 1.305






1 Six months ended 4-30-20. Unaudited.2 Period from 6-6-16 (commencement of operations) to 10-31-16.3 Based on average daily shares outstanding.4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.5 Not annualized.6 Annualized.7 A portion of income is presented unannualized.


Note 1 — Organization

John Hancock ESG Large Cap Core Fund (the fund) is a series of John Hancock Investment Trust (the Trust), anopen-end management investment company organized as a Massachusetts business trust and registered underthe Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seeklong-term capital appreciation.

The fund may offer multiple classes of shares. The shares currently outstanding are detailed in the Statement ofassets and liabilities. Class A and Class C shares are offered to all investors. Class I shares are offered toinstitutions and certain investors. Class R6 shares are only available to certain retirement plans, institutions andother investors. Class C shares convert to Class A shares ten years after purchase (certain exclusions may apply).Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution andservice fees, if any, and transfer agent fees for each class may differ.

Note 2 — Significant accounting policies

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

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

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New YorkStock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting inthe NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the netasset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the fund’sValuation Policies and Procedures.

In order to value the securities, the fund uses the following valuation techniques: Equity securities, includingexchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on theexchange or principal market where the security trades. In the event there were no sales during the day or closingprices are not available, the securities are valued using the last available bid price. Investments by the fund inopen-end mutual funds are valued at their respective NAVs each business day.

In certain instances, the Pricing Committee may determine to value equity securities using prices obtained fromanother exchange or market if trading on the exchange or market on which prices are typically obtained did notopen for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal onanother exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued atfair value as determined in good faith by the fund’s Pricing Committee following procedures established by theBoard of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fairvalue of securities may differ significantly from the value that would have been used had a ready market for suchsecurities existed.

The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuationtechniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets foridentical securities, including registered investment companies. Level 2 includes securities valued using othersignificant 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 independentpricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities

Notes to financial statements (unaudited)


valued using significant unobservable inputs when market prices are not readily available or reliable, including thefund’s own assumptions in determining the fair value of investments. Factors used in determining value mayinclude market or issuer specific events or trends, changes in interest rates and credit quality. The inputs ormethodology used for valuing securities are not necessarily an indication of the risks associated with investing inthose securities. Changes in valuation techniques and related inputs may result in transfers into or out of anassigned level within the disclosure hierarchy.

As of April 30, 2020, all investments are categorized as Level 1 under the hierarchy described above.

Security transactions and related investment income. Investment security transactions are accounted foron a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investmenttransactions are reported on trade date. Interest income is accrued as earned. Dividend income is recorded on theex-date, except for dividends of certain foreign securities where the dividend may not be known until after theex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware ofthe dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gainsand losses on securities sold are determined on the basis of identified cost and may include proceeds fromlitigation.

Real estate investment trusts. The fund may invest in real estate investment trusts (REITs). Distributions fromREITs may be recorded as income and subsequently characterized by the REIT at the end of the fiscal year as areduction of cost of investments and/or as a realized gain. As a result, the fund will estimate the components ofdistributions from these securities. Such estimates are revised when the actual components of the distributions areknown.

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

Line of credit. The fund and other affiliated funds have entered into a syndicated line of credit agreement withCitibank, N.A. as the administrative agent that enables them to participate in a $750 million unsecured committedline of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliatedfunds, the fund can borrow up to an aggregate commitment amount of $500 million, subject to asset coverageand other limitations as specified in the agreement. A commitment fee payable at the end of each calendarquarter, based on the average daily unused portion of the line of credit, is charged to each participating fundbased on a combination of fixed and asset based allocations and is reflected in Other expenses on the Statementof operations. For the six months ended April 30, 2020, the fund had no borrowings under the line of credit.Commitment fees for the six months ended April 30, 2020 were $1,426.

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

Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at thefund 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 classlevel based on the net assets of each class and the specific expense rates applicable to each class.


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

As of October 31, 2019, the fund had no uncertain tax positions that would require financial statementrecognition, derecognition or disclosure. The fund’s federal tax returns are subject to examination by the InternalRevenue Service for a period of three years.

Distribution of income and gains. Distributions to shareholders from net investment income and net realizedgains, if any, are recorded on the ex-date. The fund generally declares and pays dividends annually. Capital gaindistributions, if any, are typically distributed annually.

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

Such distributions, on a tax basis, are determined in conformity with income tax regulations, which may differ fromUS GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund’s financialstatements as a return of capital. The final determination of tax characteristics of the fund’s distribution will occurat the end of the year and will subsequently be reported to shareholders.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. Theseadjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, willreverse in a subsequent period. Book-tax differences are primarily attributable to wash sale loss deferrals andtreating a portion of the proceeds from redemptions as distributions for tax purposes.

Note 3 — Guarantees and indemnifications

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

Note 4 — Fees and transactions with affiliates

John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the fund. John HancockInvestment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principalunderwriter of the fund. The Advisor and the Distributor are indirect, wholly owned subsidiaries of ManulifeFinancial Corporation.

Management fee. The fund has an investment management agreement with the Advisor under which the fundpays a daily management fee to the Advisor equivalent on an annual basis to the sum of: a) 0.750% of the first$250 million of the fund’s average daily net assets; b) 0.725% of the next $250 million of the fund’s average dailynet assets; c) 0.700% of the next $500 million of the fund’s average daily net assets; and d) 0.700% of the fund’saverage daily net assets in excess of $1 billion. If net assets exceed $1 billion, then the advisory fee to be paid is0.700% on all asset levels of average daily net assets. The Advisor has a subadvisory agreement with Trillium AssetManagement, LLC. The fund is not responsible for payment of the subadvisory fees.

The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses forcertain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). Thiswaiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement iscalculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each


fund. During the six months ended April 30, 2020, this waiver amounted to 0.01% of the fund’s average daily netassets on an annualized basis. This arrangement expires on July 31, 2021, unless renewed by mutual agreement ofthe fund and the Advisor based upon a determination that this is appropriate under the circumstances at thattime.

The Advisor has contractually agreed to reduce its management fee or, if necessary, make payment to the fund inan amount equal to the amount by which expenses of the fund exceed 0.81% of average daily net assets of thefund. Expenses of the fund means all expenses of the fund, excluding taxes, brokerage commissions, interestexpense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinarycourse of the fund’s business, class-specific expenses, borrowing costs, prime brokerage fees, acquired fund feesand expenses paid indirectly, and short dividend expense. The expense limitation expires on February 28, 2021,unless renewed by mutual agreement of the Advisor and the fund based upon a determination that this isappropriate under the circumstances at that time.

For the six months ended April 30, 2020, the expense reductions described above amounted to the following:

Class Expense reduction

Class A $12,026Class C 3,076Class I 63,473

Class Expense reduction

Class R6 $1,811Total $80,386

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

The investment management fees, including the impact of the waivers and reimbursements as described above,incurred for the six months ended April 30, 2020, were equivalent to a net annual effective rate of 0.50% of thefund’s average daily net assets.

Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for allexpenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeepingservices to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatoryreports, among other services. These expenses are allocated to each share class based on its relative net assets atthe time the expense was incurred. These accounting and legal services fees incurred for the six months endedApril 30, 2020 amounted to an annual rate of 0.02% of the fund’s average daily net assets.

Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund hasadopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. The fund may pay upto the following contractual rates of distribution and service fees under these arrangements, expressed as anannual percentage of average daily net assets for each class of the fund’s shares:

Class Rule 12b-1 Fee

Class A 0.25%Class C 1.00%

Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributoramounting to $3,022 for the six months ended April 30, 2020. Of this amount, $495 was retained and used forprinting prospectuses, advertising, sales literature and other purposes and $2,527 was paid as sales commissionsto broker-dealers.

Class A and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A sharesthat are acquired through purchases of $1 million or more and are redeemed within one year of purchase aresubject to a 1.00% sales charge. Class C shares that are redeemed within one year of purchase are subject to a1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original


purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor forproviding distribution-related services in connection with the sale of these shares. During the six months endedApril 30, 2020, there were no CDSCs received by the Distributor for Class A and Class C shares.

Transfer agent fees. The John Hancock group of funds has a complex-wide transfer agent agreement with JohnHancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid toSignature Services are determined based on the cost to Signature Services (Signature Services Cost) of providingrecordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties forrecordkeeping 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 withretirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to fivecategories of share classes: Retail Share and Institutional Share Classes of Non-Municipal Bond Funds, Class R6Shares, Retirement Share Classes and Municipal Bond Share Classes. Within each of these categories, theapplicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relativeaverage daily net assets.

Class level expenses. Class level expenses for the six months ended April 30, 2020 were as follows:

Class Distribution and service fees Transfer agent fees

Class A $11,939 $5,995Class C 12,144 1,525Class I — 31,583Class R6 — 97Total $24,083 $39,200

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

Note 5 — Fund share transactions

Transactions in fund shares for the six months ended April 30, 2020 and for the year ended October 31, 2019were as follows:

Six Months Ended 4-30-20 Year Ended 10-31-19

Shares Amount Shares Amount

Class A shares

Sold 163,308 $2,180,208 211,879 $2,880,389

Distributions reinvested 2,584 38,557 2,034 24,757

Repurchased (351,756) (4,781,957) (60,947) (825,851)

Net increase (decrease) (185,864) $(2,563,192) 152,966 $2,079,295

Class C shares

Sold 34,284 $472,037 51,342 $634,793

Distributions reinvested 637 9,389 711 8,570

Repurchased (9,590) (137,323) (8,096) (104,790)

Net increase 25,331 $344,103 43,957 $538,573


Six Months Ended 4-30-20 Year Ended 10-31-19

Shares Amount Shares Amount

Class I shares

Sold 433,734 $6,113,247 1,135,273 $15,185,714

Distributions reinvested 16,769 250,361 22,482 273,605

Repurchased (541,244) (7,452,866) (926,533) (12,175,390)

Net increase (decrease) (90,741) $(1,089,258) 231,222 $3,283,929

Class R6 shares

Sold 22,940 $288,496 6,846 $91,746

Distributions reinvested 501 7,482 653 7,949

Repurchased (93,840) (1,263,892) (1,350) (19,144)

Net increase (decrease) (70,399) $(967,914) 6,149 $80,551

Total net increase (decrease) (321,673) $(4,276,261) 434,294 $5,982,348

Affiliates of the fund owned 44%, 46% and 70% of shares of Class A, Class C and Class I, respectively, onApril 30, 2020. Such concentration of shareholders’ capital could have a material effect on the fund if suchshareholders redeem from the fund.

Note 6 — Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to $8,688,390 and $12,459,251,respectively, for the six months ended April 30, 2020.

Note 7 — Industry or sector risk

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

Note 8 — Coronavirus (COVID-19) pandemic

The novel COVID-19 disease has resulted in significant disruptions to global business activity. A widespread healthcrisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions andclosures, impact the ability to complete redemptions, and affect fund performance.


JOBNAME: No Job Name PAGE: 11 SESS: 111 OUTPUT: Fri Jun 5 16:07:53 2020 SUM: 7BA1E1CB/qaJobz/JohnHancock/shareholder_2015/JH467ESGLargeCapCoreFund/JH467_ESG_Large_Cap_Core_Fund_SA

STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT

Operation of the Liquidity Risk Management Program

This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established inaccordance with Rule 22e-4 under the Investment Company Act of 1940,as amended (the Liquidity Rule). The Boardof Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) thatis subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC andJohn Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect toeach of the Funds, including John Hancock ESG Large Cap Core Fund, subject to the oversight of the Board. In order toprovide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor establishedthe Liquidity Risk Management Committee (the Committee). The Fund’s subadvisor, Trillium Asset Management, LLC(the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund inaccordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.

The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approvemonth end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review otherLRMP related material. The Committee also conducts daily,monthly, quarterly, and annual quantitative andqualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is apart of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conductad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity andvaluation issues.

The Committee provided the Board at a meeting held on March 15-17,2020 with a written report which addressedthe Committee’s assessment of the adequacy and effectiveness of the implementation and operation of the LRMP andany material changes to the LRMP.The report,which covered the period December 1,2018 through December 31,2019, included an assessment of important aspects of the LRMP including,but not limited to:

• Operation of the Fund’s Redemption-In-Kind Procedures;

• Highly Liquid Investment Minimum (HLIM) determination;

• Compliance with the 15% limit on illiquid investments;

• Reasonably Anticipated Trade Size (RATS) determination;

• Security-level liquidity classifications; and

• Liquidity risk assessment.

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

Redemption-In-Kind Procedures

Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt andimplement written policies and procedures regarding in-kind redemptions as part of the management of its liquidityrisk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fundwould consider redeeming in kind.Anticipated large redemption activity will be evaluated to identify situations whereredeeming in securities instead of cash may be appropriate.


JOBNAME: No Job Name PAGE: 12 SESS: 111 OUTPUT: Fri Jun 5 16:07:53 2020 SUM: 7179407A/qaJobz/JohnHancock/shareholder_2015/JH467ESGLargeCapCoreFund/JH467_ESG_Large_Cap_Core_Fund_SA

As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of theRedemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequateand effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.

Highly Liquid Investment Minimum determination

The Committee uses an HLIM model to determine a Fund’s HLIM.This process incorporates the Fund’s investmentstrategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy,access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIMfor a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within onebusiness day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore itsHLIM within a reasonable period of time.

Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund(PHLF). It is therefore not required to establish a HLIM.The Fund is tested quarterly to confirm its PHLF status.

As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place withrespect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in amanner that is adequate and effective as part of the LRMP.

Compliance with the 15% limit on illiquid investments

Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring anilliquid investment if this results in greater than 15% of its net assets being classified as illiquid.When applying thislimit, the Committee defines “illiquid investment” to mean any investment that the Fund reasonably expects cannotbe sold or disposed of in current market conditions in seven calendar days or less without the sale or dispositionsignificantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longerthan 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investmentswithin the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).

In February 2019,as a result of extended security markets closures in connection with the Chinese New Year in certaincountries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policyto plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanningfour or more calendar days).

As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place withrespect to the 15% illiquid investment limit and determined such policies and procedures are operating in a mannerthat is adequate and effective as part of the LMRP.

Reasonably Anticipated Trade Size determination

In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of aRATS would have under both normal and reasonably foreseeable stressed conditions.Modelling the Fund’s RATSrequires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. Themodel is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day,during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.


JOBNAME: No Job Name PAGE: 13 SESS: 111 OUTPUT: Fri Jun 5 16:07:53 2020 SUM: 5C8BBB0A/qaJobz/JohnHancock/shareholder_2015/JH467ESGLargeCapCoreFund/JH467_ESG_Large_Cap_Core_Fund_SA

As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place withrespect to RATS determinations and determined that such policies and procedures are operating in a manner that isadequate and effective at making RATS determinations as part of the LRMP.

Security-level liquidity classifications

When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification proceduresestablished by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs,among others, are considered: the Fund’s RATS, feedback from the applicable Subadvisor on market-, trading- andinvestment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and avalue impact standard. The Subadvisor also provides position-level data to the Committee for use in monthlyclassification reconciliation in order to identify any classifications that may need to be changed as a result of the aboveconsiderations.

As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place withrespect to security-level liquidity classifications and determined that such policies and procedures are operating in amanner that is adequate and effective as part of the LRMP.

Liquidity risk assessment

The Committee periodically reviews and assesses, the Fund’s liquidity risk, including its investment strategy andliquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (includingwhether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves arelatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investmentpurposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, andholdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets andliquidity of portfolio investments and their classifications.

As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reportsfor each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for anopen-ended structure.

Adequacy and Effectiveness

Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP hasbeen implemented, and is operating in a manner that is adequate and effective at assessing and managing theliquidity risk of each Fund.


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TrusteesHassell H. McClellan, ChairpersonSteven R. Pruchansky, Vice ChairpersonAndrew G. Arnott†

Charles L. Bardelis*James R. BoylePeter S. Burgess*William H. CunninghamGrace K. FeyMarianne Harrison†

Deborah C. JacksonJames M. Oates*Gregory A. Russo

OfficersAndrew G. ArnottPresidentFrancis V. Knox, Jr.Chief Compliance OfficerCharles A. RizzoChief Financial OfficerSalvatore SchiavoneTreasurerChristopher (Kit) SechlerSecretary and Chief Legal Officer

Investment advisorJohn Hancock Investment Management LLC

SubadvisorTrillium Asset Management, LLC

Portfolio ManagersElizabeth R. Levy, CFACheryl I. Smith, Ph.D., CFA

Principal distributorJohn Hancock Investment Management Distributors LLC

CustodianCitibank, N.A.

Transfer agentJohn Hancock Signature Services, Inc.

Legal counselK&L Gates LLP

* Member of the Audit Committee† Non-Independent Trustee

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

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

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

You can also contact us:

800-225-5291jhinvestments.com

Regular mail:John Hancock Signature Services, Inc.PO Box 219909Kansas City,MO 64121-9909

Express mail:John Hancock Signature Services, Inc.430 W 7th StreetSuite 219909Kansas City,MO 64105-1407

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BY PHONE

Call our customer service representatives at 800-225-5291, Monday to Thursday, 8:00 a.m. to 7:00 p.m., and Friday, 8:00 a.m. to 6:00 p.m., Eastern time. We’re here to help!

Not part of the semiannual report

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DOMESTIC 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

New Opportunities

Regional Bank

Small Cap Core

Small Cap Growth

Small Cap Value

U.S.Global Leaders Growth

U.S.Quality Growth

GLOBAL AND INTERNATIONAL EQUITY FUNDS

Disciplined Value International

Emerging Markets

Emerging Markets Equity

Fundamental Global Franchise

Global Equity

Global Shareholder Yield

Global Thematic Opportunities

International Dynamic Growth

International Growth

International Small Company

INCOME FUNDS

Bond

California Tax-Free Income

Emerging Markets Debt

Floating Rate Income

Government Income

High Yield

High Yield Municipal Bond

Income

Investment Grade Bond

Money Market

Short Duration Bond

Short Duration Credit Opportunities

Strategic Income Opportunities

Tax-Free Bond

ALTERNATIVE AND SPECIALTY FUNDS

Absolute Return Currency

Alternative Asset Allocation

Alternative Risk Premia

Diversified Macro

Infrastructure

Multi-Asset Absolute Return

Seaport Long/Short

A fund’s investment objectives, risks, charges, and expenses should be considered carefully beforeinvesting. The prospectus contains this and other important information about the fund. To obtain aprospectus, 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 investingor sending money.

John Hancock family of funds

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ASSET ALLOCATION

Balanced

Multi-Asset High Income

Multi-Index Lifetime Portfolios

Multi-Index Preservation Portfolios

Multimanager Lifestyle Portfolios

Multimanager Lifetime Portfolios

Retirement Income 2040

EXCHANGE-TRADED FUNDS

John Hancock Multifactor Consumer Discretionary ETF

John Hancock Multifactor Consumer Staples ETF

John Hancock Multifactor Developed International ETF

John Hancock Multifactor Emerging Markets ETF

John Hancock Multifactor Energy ETF

John Hancock Multifactor Financials ETF

John Hancock Multifactor Healthcare ETF

John Hancock Multifactor Industrials ETF

John Hancock Multifactor Large Cap ETF

John Hancock Multifactor Materials ETF

John Hancock Multifactor Media andCommunications ETF

John Hancock Multifactor Mid Cap ETF

John Hancock Multifactor Small Cap ETF

John Hancock Multifactor Technology ETF

John Hancock Multifactor Utilities ETF

ENVIRONMENTAL,SOCIAL,ANDGOVERNANCE FUNDS

ESG All Cap Core

ESG Core Bond

ESG International Equity

ESG Large Cap Core

CLOSED-END FUNDS

Financial Opportunities

Hedged Equity & Income

Income Securities Trust

Investors Trust

Preferred Income

Preferred Income II

Preferred Income III

Premium Dividend

Tax-Advantaged Dividend Income

Tax-Advantaged Global Shareholder Yield

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

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

Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to theJohn Hancock Dimensional indexes.Dimensional Fund Advisors LP does not sponsor,endorse,or sell,and makes norepresentation as to the advisability of investing in,John Hancock Multifactor ETFs.

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John Hancock Investment Management

A trusted brand

John Hancock Investment Management is a premier asset managerrepresenting one of America’s most trusted brands, with a heritage offinancial stewardship dating back to 1862. Helping our shareholderspursue their financial goals is at the core of everything we do. It’s whywe support the role of professional financial advice and operate withthe 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 specializedexpertise for every strategy we offer, then we apply robust investmentoversight to ensure they continue to meet our uncompromisingstandards and serve the best interests of our shareholders.

Results for investors

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

John Hancock Investment Management Distributors LLC n Member FINRA, SIPC200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com

This report is for the information of the shareholders of John Hancock ESG Large Cap CoreFund. It is not authorized for distribution to prospective investors unless preceded oraccompanied by a prospectus.

MF1182603 467SA 4/206/2020

Documents

John Hancock ESG Large Cap Core Fund · 2020. 6. 10. · Together with the value of your account,you may use this information to estimate the operating expenses that you paid over