Annual report | John Hancock Fundamental Large Cap Core …...JOBNAME: No Job Name PAGE: 3 SESS: 29...

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John HancockFundamental Large Cap Core Fund

Annual report 10/31/18

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Dear shareholder,

Financial markets around the world have experienced a meaningful rise in volatility this year,particularly when compared with the unusual calm of 2017.Announcements of new rounds oftariffs and heightened fears of a full-blown trade war with China overshadowed a period of strongeconomic growth. Despite the uncertainty raised by tariffs and rising inflation and interest rates, theU.S. economy has remained on track.

Short-term uncertainty notwithstanding, the good news is that asset prices of stocks are ultimatelydriven by company fundamentals—such as balance sheet strength and earnings growth—andthose continue to appear extremely supportive.Unemployment sits close to historic lows, consumerconfidence is up and trending higher, and the housing market has continued to strengthen,buoyedin part by rising demand. The question for investors as 2018 draws to a close is whether equities willregain their footing in terms of these positives, or will they continue to experience volatility.

Your best resource in unpredictable and volatile markets is your financial advisor,who can helpposition your portfolio so that it’s sufficiently diversified to meet your long-term objectives and towithstand the inevitable turbulence along the way.

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

Sincerely,

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

This commentary reflects the CEO’s views, which are subject to change at any time. Investing involves risks, including the potential loss ofprincipal. Diversification does not guarantee a profit or eliminate the risk of a loss. It is not possible to invest directly in an index. For moreup-to-date information, please visit our website at jhinvestments.com.

A message to shareholders

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John HancockFundamental Large Cap Core Fund

Table of contents

2 Your fund at a glance

4 Discussion of fund performance

8 A look at performance

10 Your expenses

12 Fund’s investments

15 Financial statements

19 Financial highlights

30 Notes to financial statements

38 Report of independent registered public accounting firm

39 Tax information

40 Continuation of investment advisory and subadvisory agreements

46 Trustees and Officers

50 More information

ANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL LARGE CAP CORE FUND 1

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INVESTMENT OBJECTIVE

The fund seeks long-term capital appreciation.

AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/18 (%)

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

5 year3 year1 year 10 year

–2.20

7.35

9.44 9.73

5.28

7.45

11.52

8.99

11.34

13.24

12.07 12.14

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

The past performance shown here reflects reinvested distributions and the beneficial effect of any expensereductions, and does not guarantee future results. Performance of the other share classes will vary based onthe difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed,may be worth more or less than their original cost. Current month-end performance may be lower or higherthan the performance 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.

Your fund at a glance

JOHN HANCOCK FUNDAMENTAL LARGE CAP CORE FUND | ANNUAL REPORT2

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PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS

U.S. stock market mostly marched higherU.S. stocks rallied, although worries about trade conflicts, higher interest rates, andslowing global economic growth led to bouts of volatility, especially late in the period.

Wide variation in sector returnsInformation technology and consumer discretionary stocks led the market with notablegains, while the more economically sensitive materials and industrials sectors didn’t fareas well.

Security selection in certain sectors detractedStock picks in the consumer discretionary and industrials sectors hurt the fund’sperformance most relative to its benchmark, the S&P 500 Index.

SECTOR COMPOSITION AS OF 10/31/18 (%)

Financials

Consumer discretionary

Communication services

Information technology

Industrials

Health care

Energy

Consumer staples

Real estate

Short-term investments and other

As a percentage of net assets.

21.6

18.3

16.1

12.0

9.4

6.8

4.6

3.0

1.8

6.4

A note about risks

The fund is subject to various risks as described in the fund’s prospectus. For more information,please refer to the “Principalrisks” section of the prospectus.


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How would you describe the market

environment during the 12 months

ended October 31, 2018?

It was a year of extreme ups and downs.U.S.

stocks benefited early on from improved

economic growth and a major overhaul to the

U.S. tax code that significantly lowered corporate tax rates.Not long into 2018,however, rising

inflation fears,mounting trade concerns, and growing issues around data security fueled a sharp

downturn in the market. Stocks managed to regain momentum,with the bull market passing the

nine-year mark last March.Continued improvement in U.S. economic growth helped fuel the

turnaround,with second-quarter GDP coming in at a 4.2% annualized rate,making the current

economic expansion the country’s second longest on record.By September, unemployment was

3.7%, the lowest in nearly 50 years.

Against this backdrop, the U.S. Federal Reserve inched its key short-term interest-rate target higher

on four separate occasions. Energy prices rallied,with oil topping $70 per barrel in late June for the

first time since 2014.However, the equity market gave back some of the previous year’s gains late in

the period, amid renewed fears that trade tariffs and higher interest rates would slow global

economic growth.

Which sectors came out on top this past year?

Information technology and consumer discretionary were the big winners, posting strong gains

within the fund’s benchmark, the S&P 500 Index. Tech stocks benefited from secular tailwinds,

including the shift to cloud computing,while consumer discretionary stocks rallied on the back of

improved economic growth and better employment numbers.Another strong performer was

healthcare.

By contrast,materials stocks fell sharply due to concerns around trade issues and slowing global

economic growth. Industrials stocks declined for similar reasons. Financials, a sizable index

component, barely budged, as concern around trade issues outweighed the benefit of higher

Discussion of fund performance

An interview with Portfolio Manager Emory W. (Sandy) Sanders, Jr., CFA,

John Hancock Asset Management a division of Manulife Asset Management

(US) LLC

Emory W. (Sandy)Sanders, Jr., CFA

Portfolio Manager

John HancockAsset Management


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interest rates and increased market

volatility. Energy stocks also stalled, as oil

prices retreated late in the period.All in

all, there was a pretty wide disparity of

returns this past year.

How did the fund perform?

It was a disappointing year,with the fund

coming out significantly behind the

7.35% gain of the benchmark. Stock picks in the consumer discretionary and industrials sectors

detracted most from the fund’s relative performance;positioning in financials—a sizable

overweight—and investment choices in healthcare further pressured the results. Throughout the

year,we maintained our long-term focus on financially sound companies with competitive

advantages, the ability to generate substantial cash flow over sustained periods, and attractive

stock prices relative to our estimate of intrinsic value; however, several of our holdings struggled.

Which stocks in particular hurt relative performance?

The biggest individual detractor was diversified industrials conglomerate General Electric Company

(GE), a top holding and large overweight that struggled all year, notably because of weak results in

its power-generation business.A federal investigation into GE’s accounting practices, concern

around the company’s reserves for its legacy long-term care business, a huge dividend cut, and the

company’s removal from the Dow Jones Industrial Average further pressured the return.Despite

news in June that GE planned to spin off or sell various businesses and later the announcement of a

“{ the equity market gave back

some of the previous year’s

gains late in the period, amid

renewed fears that trade tariffs

and higher interest rates would

slow global economic growth.”

TOP 10 HOLDINGS AS OF 10/31/18 (%)Amazon.com, Inc. 6.8General Electric Company 5.6Apple, Inc. 4.9Citigroup, Inc. 4.5Lennar Corp.,A Shares 4.4Facebook, Inc.,Class A 4.4Alphabet, Inc.,Class A 4.3Bank of America Corp. 4.3The Goldman Sachs Group, Inc. 3.8Polaris Industries, Inc. 3.2TOTAL 46.2

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


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new CEO, the stock price plummeted.We continue to believe the business is worth more than the

stock price reflects.

What about detractors in the

consumer discretionary sector?

There were three in particular: home builder

Lennar Corp., recreational vehicle

manufacturer Polaris Industries, Inc., and

mattress company Tempur Sealy

International, Inc. Lennar’s stock declined as

concerns that higher interest rates would

slow new home sales trumped a backlog of

orders. Shares of Polaris fell amid worries

about the impact trade tariffs would have on

input costs. Tempur Sealy was pressured by

difficult sales comparisons after cutting ties with its largest customer,mattress retailer Mattress

Firm (which was not in the fund), in 2017. Increased competition and pricing pressures in the

industry also hurt.Although we believe Tempur Sealy made the right call to focus on profits over

volumes, the past 12 months proved challenging.

Which sectors and stocks aided relative performance?

Security selection in information technology gave the biggest boost, although that gain was

partially offset by having an underweight in such a strong sector. Stock picks in communication

services and a lack of exposure to the weak-performing materials sector also helped.

The biggest individual contributor, however,was top holding Amazon.com, Inc., a sizable

overweight in the consumer discretionary sector. Its shares soared this past year, as the company

delivered much better-than-expected earnings, driven by its leadership position in e-commerce,

highly profitable cloud computing business, and growing third-party seller services business. Its

stellar return for the year came despite a retreat late in the period following weaker-than-expected

(although still strong) revenue guidance for the fourth quarter. The fund also benefited from an

investment in media conglomerate Twenty-First Century Fox, Inc. Its stock took off after

shareholders agreed in July to spin off certain assets, including the Fox television network and Fox

news, and sell the rest of the company,notably the film studio, to The Walt Disney Company (which

was not in the fund).

“The fund ended the period

with underweights in

information technology and

healthcare, sectors in which

we’ve found fewer

attractively valued

opportunities.”


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Which tech stocks stood out?

Shares of Apple, Inc., another top holding,posted a

strong gain, driven by pricing power, particularly for

the company’s iPhones; impressive growth in the

services side of the business and other products

category,which includes Apple Watches; and share

buybacks. The fund also benefited from a non-

benchmark stake in cloud-based software company

Workday, Inc.,which is best known for its human

resources management software.

How is the fund positioned at period end?

It still has large overweights in the consumer discretionary and financials sectors. In the consumer

discretionary sector, the fund owns a mix of names. In the financials sector, the fund has a number of

holdings in large, diversified banks. It also has an overweight in communication services,which

includes sizable stakes in Google’s parent,Alphabet, Inc., and social network Facebook Inc. The

fund ended the period with underweights in information technology and healthcare, sectors in

which we’ve found fewer attractively valued opportunities.

MANAGED BYEmory W. (Sandy)Sanders, Jr., CFAOn the fund since 2011Investing since 1997

Jonathan White, CFAOn the fund since 2015Investing since 1997

The views expressed in this report are exclusively those of Emory W. (Sandy) Sanders, Jr., CFA, John Hancock Asset Management and aresubject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held bythe fund for the entire period. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in thefuture.Current and future portfolio holdings are subject to risk.


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TOTAL RETURNS FOR THE PERIOD ENDED OCTOBER 31, 2018

Average annual total returns (%)with maximum sales charge

Cumulative total returns (%)with maximum sales charge

1-year 5-year 10-year 5-year 10-year

Class A –7.09 7.87 11.50 46.06 197.06

Class B –7.38 7.88 11.41 46.09 194.53

Class C –3.82 8.17 11.24 48.10 190.06

Class I1 –1.97 9.27 12.42 55.78 222.36

Class R11,2 –2.58 8.56 11.69 50.81 202.14

Class R21,2 –2.36 8.83 12.01 52.68 211.00

Class R31,2 –2.46 8.68 11.78 51.63 204.57

Class R41,2 –2.10 9.11 12.16 54.61 214.98

Class R51,2 –1.92 9.32 12.41 56.13 222.05

Class R61,2 –1.85 9.39 12.38 56.61 221.20

Class NAV1,2 –1.85 9.12 12.14 54.68 214.53

Index† 7.35 11.34 13.24 71.11 246.68

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 B and Class C shares. The Class Bshares’ CDSC declines annually between years 1 to 6 according to the following schedule: 5%, 4%, 3%, 3%, 2%, 1%.No sales charge will be assessed after the sixth year. Class C shares sold within one year of purchase are subject to a 1%CDSC. Sales charges are not applicable to Class I, Class R1, Class R2, Class R3, Class R4, Class R5, Class R6, and ClassNAV shares.The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding anyfee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for thefund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractualexpense limitations in effect until February 28, 2019 and are subject to change. Had the contractual fee waivers andexpense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

Class A Class B Class C Class I Class R1 Class R2 Class R3 Class R4 Class R5 Class R6ClassNAV*

Gross (%) 1.04 1.79 1.79 0.78 1.44 1.19 1.34 1.04 0.74 0.69 0.68Net (%) 1.04 1.79 1.79 0.78 1.44 1.19 1.34 0.94 0.74 0.69 0.68

*Expenses have been estimated for the first year of operations of Class NAV shares.Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and anyexpense limitation arrangements for each class.The returns reflect past results and should not be considered indicative of future performance. The return and principalvalue of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost.Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performanceshown. For current to the most recent month-end performance data, please call 800–225–5291 or visit the fund’swebsite 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 any applicablefee waivers or expense reductions, without which the expenses would increase and results would have been lessfavorable.

† 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 in John HancockFundamental Large Cap Core Fund for the share classes and periods indicated, assuming alldistributions were reinvested. For comparison,we’ve shown the same investment in the S&P 500Index.

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

$34,668$31,266$29,706

Ending values 10-31-18

10,0009,5005,000

$36,000

10-31-1810-1710-1610-1510-1410-1310-1210-1110-1010-0910-31-08

Start dateWith maximumsales charge ($)

Withoutsales charge ($) Index ($)

Class B3 10-31-08 29,453 29,453 34,668

Class C3 10-31-08 29,006 29,006 34,668

Class I1 10-31-08 32,236 32,236 34,668

Class R11,2 10-31-08 30,214 30,214 34,668

Class R21,2 10-31-08 31,100 31,100 34,668

Class R31,2 10-31-08 30,457 30,457 34,668

Class R41,2 10-31-08 31,498 31,498 34,668

Class R51,2 10-31-08 32,205 32,205 34,668

Class R61,2 10-31-08 32,120 32,120 34,668

Class NAV1,2 10-31-08 31,453 31,453 34,668

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 would resultin lower returns.Footnotes related to performance pages

1 For certain types of investors, as described in the fund’s prospectuses.2 Class R1, Class R3, Class R4, and Class R5 shares were first offered on 5-22-09; Class R2 shares were first offered on 3-1-12;

Class R6 shares were first offered on 9-1-11; Class NAV shares were first offered on 2-8-17. Returns prior to these dates arethose of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.

3 The contingent deferred sales charge is not applicable.


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

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

▪ Transaction costs,▪ Ongoing operating expenses, including management fees, distribution and service fees

(if applicable), and other fund expenses.

We are presenting only your ongoing operating expenses here.

Actual expenses/actual returnsThe first line of the table on the following page is intended to provide information about thefund’s actual ongoing operating expenses, and is based on the fund’s actual return. It assumesan account value of $1,000.00 on May 1, 2018, with the same investment held until October 31,2018.

Together with the value of your account, you may use this information to estimate the operatingexpenses that you paid over the period. Simply divide your account value at October 31, 2018, by$1,000.00, then multiply it by the “expenses paid” for your share class from the table. Forexample, for an account value of $8,600.00, the operating expenses should be calculated asfollows:

Hypothetical example for comparison purposesThe second line of the table on the following page allows you to compare the fund’s ongoingoperating expenses with those of any other fund. It provides an example of the fund’shypothetical account values and hypothetical expenses based on each class’s actual expenseratio and an assumed 5% annualized return before expenses (which is not the class’s actualreturn). It assumes an account value of $1,000.00 on May 1, 2018, with the same investmentheld until October 31, 2018. Look in any other fund shareholder report to find its hypotheticalexample and you will be able to compare these expenses. Please remember that thesehypothetical account values and expenses may not be used to estimate the actual endingaccount balance or expenses you paid for the period.

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

Your expenses

10 JOHN HANCOCK FUNDAMENTAL LARGE CAP CORE FUND | ANNUAL REPORT

SHAREHOLDER EXPENSE EXAMPLE CHART

Accountvalue on5-1-2018

Endingvalue on

10-31-2018

Expensespaid during

period ended10-31-20181

Annualizedexpense

ratio

Class A Actual expenses/actual returns $1,000.00 $ 979.20 $5.04 1.01%Hypothetical example 1,000.00 1,020.10 5.14 1.01%

Class B Actual expenses/actual returns 1,000.00 975.50 8.76 1.76%Hypothetical example 1,000.00 1,016.30 8.94 1.76%

Class C Actual expenses/actual returns 1,000.00 975.30 8.76 1.76%Hypothetical example 1,000.00 1,016.30 8.94 1.76%

Class I Actual expenses/actual returns 1,000.00 980.30 3.89 0.78%Hypothetical example 1,000.00 1,021.30 3.97 0.78%

Class R1 Actual expenses/actual returns 1,000.00 977.20 6.93 1.39%Hypothetical example 1,000.00 1,018.20 7.07 1.39%






Class NAV Actual expenses/actual returns 1,000.00 980.70 3.30 0.66%Hypothetical example 1,000.00 1,021.90 3.36 0.66%

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).


AS OF 10-31-18Shares Value

Common stocks 93.6% $4,872,757,953(Cost $4,358,583,954)

Communication services 16.1% 837,438,407

Entertainment 3.4%

Liberty Media Corp.-Liberty Formula One, Series C (A) 2,693,153 89,089,501

Twenty-First Century Fox, Inc., Class A 119,961 5,460,625

Twenty-First Century Fox, Inc., Class B 1,812,652 81,895,617

Interactive media and services 11.4%

Alphabet, Inc., Class A (A) 205,733 224,368,295

CarGurus, Inc. (A) 2,426,348 107,778,378

Facebook, Inc., Class A (A) 1,502,799 228,109,860

Twitter, Inc. (A) 1,022,197 35,521,346

Media 1.3%

Comcast Corp., Class A 1,709,879 65,214,785

Consumer discretionary 18.3% 951,394,806

Hotels, restaurants and leisure 0.5%

Marriott International, Inc., Class A 117,442 13,727,795

Starbucks Corp. 227,549 13,259,280

Household durables 5.8%

Lennar Corp., A Shares 5,319,745 228,642,640

Tempur Sealy International, Inc. (A) 1,617,372 74,738,760

Internet and direct marketing retail 8.8%

Amazon.com, Inc. (A) 221,899 354,596,821

eBay, Inc. (A) 3,534,691 102,612,080

Leisure products 3.2%

Polaris Industries, Inc. 1,841,059 163,817,430

Consumer staples 3.0% 154,778,465

Beverages 1.9%

Anheuser-Busch InBev SA, ADR 703,877 52,072,820

Diageo PLC, ADR 249,227 34,433,202

Heineken Holding NV 156,708 13,554,661

Food and staples retailing 1.1%

Walmart, Inc. 545,650 54,717,782

Energy 4.6% 240,977,462

Energy equipment and services 2.3%

Baker Hughes, a GE Company 1,488,666 39,732,496

Schlumberger, Ltd. 1,615,934 82,913,574

Oil, gas and consumable fuels 2.3%

Cheniere Energy, Inc. (A) 1,744,464 105,383,070

Kinder Morgan, Inc. 760,771 12,948,322

Fund’s investments

12 JOHN HANCOCK FUNDAMENTAL LARGE CAP CORE FUND | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS

Shares Value

Financials 21.6% $1,125,244,512

Banks 12.0%

Bank of America Corp. 8,058,297 221,603,168

Citigroup, Inc. 3,559,166 232,983,006

First Republic Bank 118,690 10,799,603

JPMorgan Chase & Co. 746,841 81,420,606

Wells Fargo & Company 1,489,760 79,299,925

Capital markets 6.3%

Morgan Stanley 2,805,960 128,120,134

The Goldman Sachs Group, Inc. 896,919 202,138,635

Consumer finance 2.1%

American Express Company 543,416 55,825,126

Synchrony Financial 1,825,537 52,721,509

Insurance 1.2%

Prudential Financial, Inc. 643,344 60,332,800

Health care 6.8% 356,013,741

Biotechnology 2.5%

Amgen, Inc. 67,603 13,033,182

Biogen, Inc. (A) 175,612 53,433,463

Gilead Sciences, Inc. 972,021 66,272,392

Health care equipment and supplies 0.6%

Danaher Corp. 328,080 32,611,152

Health care providers and services 1.2%

UnitedHealth Group, Inc. 235,885 61,648,545

Pharmaceuticals 2.5%

Allergan PLC 816,499 129,015,007

Industrials 9.4% 487,399,079

Aerospace and defense 1.0%

United Technologies Corp. 432,471 53,717,223

Industrial conglomerates 5.6%

General Electric Company 28,627,060 289,133,306

Machinery 1.0%

Caterpillar, Inc. 415,365 50,392,082

Road and rail 1.8%

Union Pacific Corp. 643,937 94,156,468

Information technology 12.0% 627,790,185

IT services 1.1%

Visa, Inc., Class A 414,343 57,117,183

Semiconductors and semiconductor equipment 0.7%

Analog Devices, Inc. 314,574 26,332,990

Broadcom, Inc. 56,735 12,679,705

SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL LARGE CAP CORE FUND 13

Shares Value

Information technology (continued)

Software 5.3%

Adobe, Inc. (A) 53,020 $13,030,195

Autodesk, Inc. (A) 91,348 11,806,729

Microsoft Corp. 860,321 91,890,886

salesforce.com, Inc. (A) 90,116 12,367,520

Workday, Inc., Class A (A) 1,098,063 146,064,340

Technology hardware, storage and peripherals 4.9%

Apple, Inc. 1,171,985 256,500,637

Real estate 1.8% 91,721,296

Equity real estate investment trusts 1.8%

American Tower Corp. 588,674 91,721,296

Yield* (%) Maturity date Par value^ Value

Short-term investments 3.4% $178,623,000(Cost $178,623,000)

U.S. Government Agency 1.1% 57,731,000Federal Home Loan Bank Discount Note 2.050 11-01-18 57,731,000 57,731,000

Par value^ Value

Repurchase agreement 2.3% 120,892,000Barclays Tri-Party Repurchase Agreement dated

10-31-18 at 2.180% to be repurchased at$119,078,210 on 11-1-18, collateralized by$119,467,700 U.S. Treasury Inflation IndexedNotes, 0.125% - 0.375% due 4-15-19 to7-15-27 (valued at $121,459,784, includinginterest) 119,071,000 119,071,000

Repurchase Agreement with State Street Corp.dated 10-31-18 at 1.050% to be repurchasedat $1,821,053 on 11-1-18, collateralized by$1,825,000 U.S. Treasury Notes, 3.125% due5-15-21 (valued at $1,862,188, includinginterest) 1,821,000 1,821,000

Total investments (Cost $4,537,206,954) 97.0% $5,051,380,953

Other assets and liabilities, net 3.0% 155,929,640

Total net assets 100.0% $5,207,310,593

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

^All par values are denominated in U.S. dollars unless otherwise indicated.

Security Abbreviations and Legend

ADR American Depositary Receipt

(A) Non-income producing security.

* Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rateat period end.

At 10-31-18, the aggregate cost of investments for federal income tax purposes was $4,562,843,009. Net unrealized appreciationaggregated to $488,537,944, of which $935,257,147 related to gross unrealized appreciation and $446,719,203 related to grossunrealized depreciation.


STATEMENT OF ASSETS AND LIABILITIES 10-31-18

AssetsUnaffiliated investments, at value (Cost $4,537,206,954) $5,051,380,953Cash 362Dividends and interest receivable 2,879,985Receivable for fund shares sold 2,212,383Receivable for investments sold 160,938,216Other assets 237,923Total assets 5,217,649,822LiabilitiesPayable for fund shares repurchased 5,402,576Payable to affiliates

Investment management fees 2,824,354Accounting and legal services fees 540,726Transfer agent fees 267,930Distribution and service fees 518,185Trustees’ fees 2,379

Other liabilities and accrued expenses 783,079Total liabilities 10,339,229Net assets $5,207,310,593Net assets consist ofPaid-in capital $4,190,240,929Accumulated distributable earnings (accumulated loss) 1,017,069,664Net assets $5,207,310,593

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 ($1,511,454,840 ÷ 32,392,774 shares)1 $46.66Class B ($14,338,862 ÷ 346,170 shares)1 $41.42Class C ($184,200,443 ÷ 4,447,923 shares)1 $41.41Class I ($846,132,343 ÷ 17,344,581 shares) $48.78Class R1 ($7,550,656 ÷ 157,580 shares) $47.92Class R2 ($1,661,361 ÷ 34,248 shares) $48.51Class R3 ($3,138,910 ÷ 65,290 shares) $48.08Class R4 ($3,987,549 ÷ 82,197 shares) $48.51Class R5 ($451,697 ÷ 9,239 shares) $48.89Class R6 ($963,393,457 ÷ 19,696,071 shares) $48.91Class NAV ($1,671,000,475 ÷ 34,173,595 shares) $48.90Maximum offering price per shareClass A (net asset value per share ÷ 95%)2 $49.12

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 year ended 10-31-18

Investment incomeDividends $68,186,137Interest 1,309,706Less foreign taxes withheld (825,635)Total investment income 68,670,208ExpensesInvestment management fees 31,837,386Distribution and service fees 7,023,343Accounting and legal services fees 1,094,542Transfer agent fees 3,343,948Trustees’ fees 81,115Custodian fees 660,161State registration fees 233,697Printing and postage 330,665Professional fees 170,920Other 183,814Total expenses 44,959,591Less expense reductions (442,750)Net expenses 44,516,841Net investment income 24,153,367Realized and unrealized gain (loss)Net realized gain (loss) onUnaffiliated investments and foreign currency transactions 541,525,649

541,525,649Change in net unrealized appreciation (depreciation) ofUnaffiliated investments and translation of assets and liabilities in foreign currencies (702,291,788)

(702,291,788)Net realized and unrealized loss (160,766,139)Decrease in net assets from operations $(136,612,772)


STATEMENTS OF CHANGES IN NET ASSETS

Year ended 10-31-18 Year ended 10-31-17

Increase (decrease) in net assetsFrom operationsNet investment income $24,153,367 $30,090,486Net realized gain 541,525,649 381,660,333Change in net unrealized appreciation (depreciation) (702,291,788) 693,263,240Increase (decrease) in net assets resulting from

operations (136,612,772) 1,105,014,059Distributions to shareholdersFrom net investment income and net realized gainClass A (132,026,924) —Class B (2,327,040) —Class C (25,759,803) —Class I (81,811,383) —Class R1 (704,687) —Class R2 (111,033) —Class R3 (293,106) —Class R4 (250,727) —Class R5 (204,671) —Class R6 (82,327,831) —Class NAV (93,260,514) —From net investment incomeClass A — (6,690,657)Class I — (11,361,222)Class R1 — (5,459)Class R2 — (7,970)Class R3 — (4,093)Class R4 — (13,277)Class R5 — (9,464)Class R6 — (8,358,290)From net realized gainClass A — (45,947,937)Class B — (1,307,130)Class C — (9,625,669)Class I — (49,784,655)Class R1 — (207,561)Class R2 — (77,548)Class R3 — (71,945)Class R4 — (74,065)Class R5 — (39,359)Class R6 — (32,295,978)Total distributions (419,077,719) (165,882,279)From fund share transactions 677,416,626 603,582,491Total increase 121,726,135 1,542,714,271


STATEMENTS OF CHANGES IN NET ASSETS (continued)


Increase (decrease) in net assetsNet assetsBeginning of year $5,085,584,458 $3,542,870,187End of year1 $5,207,310,593 $5,085,584,458

1Net assets - End of year includes undistributed net investment income of $23,897,845 in 2017. The SEC eliminated the requirement todisclose undistributed net investment income in 2018.


CLASS A SHARES Period ended 10-31-18 10-31-17 10-31-16 10-31-15 10-31-14

Per share operating performanceNet asset value, beginning of period $51.87 $42.42 $42.89 $39.44 $34.92Net investment income1 0.16 0.24 0.23 0.16 0.16Net realized and unrealized gain (loss) on

investments (1.10) 10.71 (0.07) 3.42 4.56Total from investment operations (0.94) 10.95 0.16 3.58 4.72Less distributionsFrom net investment income (0.26) (0.19) (0.12) (0.13) (0.20)From net realized gain (4.01) (1.31) (0.51) — —Total distributions (4.27) (1.50) (0.63) (0.13) (0.20)Net asset value, end of period $46.66 $51.87 $42.42 $42.89 $39.44Total return (%)2,3 (2.20) 26.39 0.37 9.11 13.59Ratios and supplemental dataNet assets, end of period (in millions) $1,511 $1,620 $1,519 $1,629 $1,541Ratios (as a percentage of average net assets):

Expenses before reductions 1.03 1.04 1.06 1.05 1.06Expenses including reductions 1.02 1.04 1.05 1.04 1.06Net investment income 0.32 0.51 0.57 0.40 0.43

Portfolio turnover (%) 474 544 205 22 215

1 Based on average daily shares outstanding.2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.3 Does not reflect the effect of sales charges, if any.4 Excludes in-kind transactions.5 Excludes merger activity.

Financial highlights


CLASS B SHARES Period ended 10-31-18 10-31-17 10-31-16 10-31-15 10-31-14

Per share operating performanceNet asset value, beginning of period $46.58 $38.34 $38.99 $36.01 $31.94Net investment loss1 (0.18) (0.09) (0.06) (0.13) (0.11)Net realized and unrealized gain (loss) on

investments (0.97) 9.64 (0.08) 3.11 4.18Total from investment operations (1.15) 9.55 (0.14) 2.98 4.07Less distributionsFrom net investment income — — — — —From net realized gain (4.01) (1.31) (0.51) — —Total distributions (4.01) (1.31) (0.51) — —Net asset value, end of period $41.42 $46.58 $38.34 $38.99 $36.01Total return (%)2,3 (2.93) 25.44 (0.37) 8.28 12.74Ratios and supplemental dataNet assets, end of period (in millions) $14 $29 $41 $65 $79Ratios (as a percentage of average net assets):

Expenses before reductions 1.78 1.79 1.81 1.80 1.81Expenses including reductions 1.77 1.79 1.80 1.79 1.81Net investment loss (0.40) (0.21) (0.17) (0.34) (0.31)




CLASS C SHARES Period ended 10-31-18 10-31-17 10-31-16 10-31-15 10-31-14

Per share operating performanceNet asset value, beginning of period $46.57 $38.33 $38.98 $36.00 $31.93Net investment loss1 (0.19) (0.10) (0.07) (0.13) (0.11)Net realized and unrealized gain (loss) on

investments (0.96) 9.65 (0.07) 3.11 4.18Total from investment operations (1.15) 9.55 (0.14) 2.98 4.07Less distributionsFrom net investment income — — — — —From net realized gain (4.01) (1.31) (0.51) — —Total distributions (4.01) (1.31) (0.51) — —Net asset value, end of period $41.41 $46.57 $38.33 $38.98 $36.00Total return (%)2,3 (2.93) 25.44 (0.37) 8.28 12.75Ratios and supplemental dataNet assets, end of period (in millions) $184 $303 $290 $314 $300Ratios (as a percentage of average net assets):

Expenses before reductions 1.78 1.79 1.81 1.80 1.81Expenses including reductions 1.77 1.79 1.80 1.79 1.81Net investment loss (0.42) (0.23) (0.18) (0.35) (0.32)




CLASS I SHARES Period ended 10-31-18 10-31-17 10-31-16 10-31-15 10-31-14


investments (1.15) 11.12 (0.08) 3.55 4.75Total from investment operations (0.86) 11.52 0.28 3.82 5.01Less distributionsFrom net investment income (0.40) (0.29) (0.22) (0.21) (0.32)From net realized gain (4.01) (1.31) (0.51) — —Total distributions (4.41) (1.60) (0.73) (0.21) (0.32)Net asset value, end of period $48.78 $54.05 $44.13 $44.58 $40.97Total return (%)2 (1.97) 26.73 0.63 9.40 13.90Ratios and supplemental dataNet assets, end of period (in millions) $846 $985 $1,665 $1,789 $880Ratios (as a percentage of average net assets):



1 Based on average daily shares outstanding.2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.3 Excludes in-kind transactions.4 Excludes merger activity.


CLASS R1 SHARES Period ended 10-31-18 10-31-17 10-31-16 10-31-15 10-31-14

Per share operating performanceNet asset value, beginning of period $53.16 $43.46 $43.98 $40.47 $35.85Net investment income (loss)1 (0.03) 0.06 0.07 0.01 0.02Net realized and unrealized gain (loss) on

investments (1.13) 10.98 (0.08) 3.50 4.69Total from investment operations (1.16) 11.04 (0.01) 3.51 4.71Less distributionsFrom net investment income (0.07) (0.03) — —2 (0.09)From net realized gain (4.01) (1.31) (0.51) — —Total distributions (4.08) (1.34) (0.51) —2 (0.09)Net asset value, end of period $47.92 $53.16 $43.46 $43.98 $40.47Total return (%)3 (2.58) 25.90 (0.03) 8.67 13.18Ratios and supplemental dataNet assets, end of period (in millions) $8 $9 $7 $7 $7Ratios (as a percentage of average net assets):

Expenses before reductions 1.41 1.43 1.45 1.44 1.45Expenses including reductions 1.40 1.42 1.44 1.43 1.44Net investment income (loss) (0.07) 0.13 0.18 0.01 0.06


1 Based on average daily shares outstanding.2 Less than $0.005 per share.3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.4 Excludes in-kind transactions.5 Excludes merger activity.




investments (1.18) 11.10 (0.08) 3.53 4.74Total from investment operations (1.06) 11.28 0.10 3.64 4.85Less distributionsFrom net investment income (0.19) (0.13) (0.06) (0.08) (0.23)From net realized gain (4.01) (1.31) (0.51) — —Total distributions (4.20) (1.44) (0.57) (0.08) (0.23)Net asset value, end of period $48.51 $53.77 $43.93 $44.40 $40.84Total return (%)2 (2.36) 26.22 0.24 8.95 13.46Ratios and supplemental dataNet assets, end of period (in millions) $2 $3 $3 $2 $2Ratios (as a percentage of average net assets):







investments (1.17) 11.18 (0.08) 3.54 4.75Total from investment operations (0.83) 11.56 0.30 3.84 5.04Less distributionsFrom net investment income (0.41) (0.31) (0.23) (0.23) (0.32)From net realized gain (4.01) (1.31) (0.51) — —Total distributions (4.42) (1.62) (0.74) (0.23) (0.32)Net asset value, end of period $48.89 $54.14 $44.20 $44.64 $41.03Total return (%)2 (1.92) 26.77 0.68 9.44 13.96Ratios and supplemental dataNet assets, end of period (in millions) $—3 $2 $1 $2 $2Ratios (as a percentage of average net assets):



1 Based on average daily shares outstanding.2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.3 Less than $500,000.4 Excludes in-kind transactions.5 Excludes merger activity.


CLASS NAV SHARES Period ended 10-31-18 10-31-171

Per share operating performanceNet asset value, beginning of period $54.15 $47.04Net investment income2 0.33 0.35Net realized and unrealized gain (loss) on investments (1.13) 6.76Total from investment operations (0.80) 7.11Less distributionsFrom net investment income (0.44) —From net realized gain (4.01) —Total distributions (4.45) —Net asset value, end of period $48.90 $54.15Total return (%)3 (1.85) 15.114

Ratios and supplemental dataNet assets, end of period (in millions) $1,671 $1,152Ratios (as a percentage of average net assets):

Expenses before reductions 0.67 0.685

Expenses including reductions 0.66 0.675

Net investment income 0.64 0.945

Portfolio turnover (%) 476 546,7

1 The inception date for Class NAV shares is 2-8-17.2 Based on average daily shares outstanding.3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.4 Not annualized.5 Annualized.6 Excludes in-kind transactions.7 The portfolio turnover is shown for the period from 11-1-16 to 10-31-17.


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Note 1 — OrganizationJohn Hancock Fundamental Large Cap Core Fund (the fund) is a series of John Hancock Investment Trust (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the InvestmentCompany Act of 1940,as amended (the 1940 Act). The investment objective of the fund is to seek long-term capitalappreciation.

The fund may offer multiple classes of shares. The shares outstanding are detailed in the Statement of assets and liabilities.Class A and Class C shares are offered to all investors.Class B shares are closed to new investors.Class I shares are offered toinstitutions and certain investors.Class R1,Class R2,Class R3,Class R4 and Class R5 shares are available only to certainretirement and 529 plans.Class R6 shares are only available to certain retirement plans, institutions and other investors.Class NAV shares are offered to John Hancock affiliated funds of funds, retirement plans for employees of John Hancock and/or Manulife Financial Corporation (MFC), and certain 529 plans.Class B shares convert to Class A shares eight years afterpurchase.Class C shares convert to Class A shares ten years after purchase (certain exclusions may apply). Shareholders ofeach class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transferagent fees for each class may differ.

Note 2 — Significant accounting policiesThe financial statements have been prepared in conformity with accounting principles generally accepted in the UnitedStates of America (US GAAP),which require management to make certain estimates and assumptions as of the date of thefinancial statements.Actual results could differ from those estimates and those differences could be significant. The fundqualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.

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

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York StockExchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE notopening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may bedetermined as of the regularly scheduled close of the NYSE pursuant to the fund’s Valuation Policies and Procedures.

In order to value the securities, the fund uses the following valuation techniques: Equity securities held by the fund aretypically valued at the last sale price or official closing price on the exchange or principal market where the security trades. Inthe event there were no sales during the day or closing prices are not available, the securities are valued using the lastavailable bid price.Debt obligations are valued based on the evaluated prices provided by an independent pricing vendor orfrom broker-dealers. 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 othermarket data, as well as broker supplied prices. Foreign securities and currencies are valued in U.S. dollars based on foreigncurrency exchange rates supplied by an independent pricing vendor.

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

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value asdetermined in good faith by the fund’s Pricing Committee following procedures established by the Board of Trustees. Thefrequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differsignificantly from the value that would have been used had a ready market for such securities existed. Trading in foreignsecurities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer ormarket level may affect the values of securities between the time when the valuation of the securities is generally determinedand the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by thefund’s Pricing Committee, following procedures established by the Board of Trustees. The fund uses fair value adjustment

Notes to financial statements


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factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that mayoccur between the close of foreign exchanges or markets and the close of the NYSE.

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

The following is a summary of the values by input classification of the fund’s investments as of October 31,2018,by majorsecurity category or type:

Totalvalue at

10-31-18

Level 1quoted

price

Level 2significantobservable

inputs

Level 3significant

unobservableinputs

Investments in securities:

Assets

Common stocks

Communication services $837,438,407 $837,438,407 — —Consumer discretionary 951,394,806 951,394,806 — —Consumer staples 154,778,465 141,223,804 $13,554,661 —Energy 240,977,462 240,977,462 — —Financials 1,125,244,512 1,125,244,512 — —Health care 356,013,741 356,013,741 — —Industrials 487,399,079 487,399,079 — —Information technology 627,790,185 627,790,185 — —Real estate 91,721,296 91,721,296 — —

Short-term investments 178,623,000 — 178,623,000 —Total investments in securities $5,051,380,953 $4,859,203,292 $192,177,661 —

Repurchase agreements.The fund may enter into repurchase agreements. When the fund enters into a repurchaseagreement, it receives collateral that is held in a segregated account by the fund’s custodian,or for tri-party repurchaseagreements, collateral is held at a third-party custodian bank in a segregated account for the benefit of the fund. Thecollateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount notless than the principal amount of the repurchase agreement plus any accrued interest.Collateral received by the fund forrepurchase agreements is disclosed in the Fund’s investments as part of the caption related to the repurchase agreement.

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/orGlobal Master Repurchase Agreement (collectively,MRA).Upon an event of default, the non-defaulting party may close outall transactions traded under the MRA and net amounts owed.Absent an event of default, assets and liabilities resultingfrom repurchase agreements are not offset in the Statement of assets and liabilities. In the event of a default by thecounterparty, realization of the collateral proceeds could be delayed,during which time the collateral value may decline orthe counterparty may have insufficient assets to pay back claims resulting from close-out of the transactions.

Security transactions and related investment income. Investment security transactions are accounted for on a tradedate plus one basis for daily NAV calculations.However, for financial reporting purposes, investment transactions are


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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 relatedinterest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or aportion of interest has become doubtful.Dividend income is recorded on the ex-date, except for dividends of foreignsecurities where the dividend may not be known until after the ex-date. In those cases, dividend income,net of withholdingtaxes, is recorded when the fund becomes aware of the dividends.Non-cash dividends, if any, are recorded at the fair marketvalue of the securities received.Gains and losses on securities sold are determined on the basis of identified cost and mayinclude proceeds from litigation.

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 translatedinto U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currencyexchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) oninvestments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar,whichreduces the dollar value of securities denominated in that currency.

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

Foreign taxes. The fund may be subject to withholding tax on income, capital gains or repatriation taxes imposed by certaincountries, a portion of which may be recoverable. Foreign taxes are accrued based upon the fund’s understanding of the taxrules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the fund as aresult of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealizedappreciation of such securities. Investment income is recorded net of foreign withholding taxes.

Line of credit.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’s custodianagreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repaythe custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest orsecurity entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and tothe maximum extent permitted by law.

The fund and other affiliated funds have entered into a syndicated line of credit agreement with Citibank,N.A.as theadministrative agent that enables them to participate in a $750 million unsecured committed line of credit. Excludingcommitments designated for a certain fund and subject to the needs of all other affiliated funds, the fund can borrow up toan aggregate commitment amount of $500 million, subject to asset coverage and other limitations as specified in theagreement.A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of theline of credit, is charged to each participating fund based on a combination of fixed and asset based allocations and isreflected in Other expenses on the Statement of operations. For the year ended October 31,2018, the fund had noborrowings under the line of credit.Commitment fees for the year ended October 31,2018 were $11,524.

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

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


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

As of October 31,2018, the fund had no uncertain tax positions that would require financial statement recognition,derecognition or disclosure. The fund’s federal tax returns are subject to examination by the Internal Revenue Service for aperiod of three years.

Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, ifany, are recorded on the ex-date. The fund generally declares and pays dividends and capital gain distributions, if any,annually.

The tax character of distributions for the years ended October 31,2018 and 2017 was as follows:

October 31, 2018 October 31, 2017

Ordinary income $129,788,995 $26,450,432Long-term capital gain $289,288,724 $139,431,847Total $419,077,719 $165,882,279

Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and inthe same amount, except for the effect of class level expenses that may be applied differently to each class.As of October 31,2018, the components of distributable earnings on a tax basis consisted of $47,171,522 of undistributed ordinary incomeand $481,360,183 of undistributed long-term capital gains.

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

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments haveno impact on net assets or the results of operations. Temporary book-tax differences, if any,will reverse in a subsequentperiod.Book-tax differences are primarily attributable to treating a portion of the proceeds from redemptions asdistributions for tax purposes and wash sale loss deferrals.

Note 3 — Guarantees and indemnificationsUnder the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out ofthe performance of their duties to the Trust, including the fund.Additionally, in the normal course of business, the fund entersinto contracts with service providers that contain general indemnification clauses. The fund’s maximum exposure underthese arrangements is unknown,as this would involve future claims that may be made against the fund that have not yetoccurred. The risk of material loss from such claims is considered remote.

Note 4 — Fees and transactions with affiliatesJohn Hancock Advisers, LLC (the Advisor) serves as investment advisor for the fund. John Hancock Funds, LLC (theDistributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor areindirect,wholly owned subsidiaries of MFC.

Management fee. The fund has an investment management agreement with the Advisor under which the fund pays amonthly management fee to the Advisor equivalent on an annual basis to the sum of: a.) 0.625% of the first $3 billion of thefund’s average daily net assets and b) 0.600% of the fund’s average daily net assets in excess of $3 billion. The Advisor has asubadvisory agreement with John Hancock Asset Management a division of Manulife Asset Management (US) LLC,anindirectly owned subsidiary of MFC and an affiliate of the Advisor. The fund is not responsible for payment of the subadvisoryfees.


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The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain fundsof the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based uponaggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocatedamong all the participating portfolios in proportion to the daily net assets of each fund.During the year ended October 31,2018, this waiver amounted to 0.01% of the fund’s average net assets. This agreement expires on June 30,2020,unlessrenewed by mutual agreement of the Fund and the Advisor based upon a determination that this is appropriate under thecircumstances at that time.

The Advisor has contractually agreed to waive and/or reimburse a portion of the fund’s total operating expenses for Class B,Class C and Class I shares of the fund to the extent they exceed 1.82% 1.82% and 0.78%, respectively, of the average netassets attributable to each class. These waivers and/or reimbursements exclude taxes, brokerage commissions, interestexpense, acquired fund fees and expenses paid indirectly, short dividend expense, litigation and indemnification expensesnot incurred in the ordinary course of the fund’s business, borrowing costs, and prime brokerage fees. The waivers and/orreimbursements will continue in effect until February 28,2019,unless renewed by mutual agreement of the fund andAdvisor based upon determination of that this is appropriate under the circumstances at the time.

For the year ended October 31,2018, these expense reductions described above amounted to the following:

Class Expense reduction Class Expense reduction

Class A $138,196 Class R3 $308Class B 1,853 Class R4 353Class C 22,128 Class R5 167Class I 82,270 Class R6 92,181Class R1 727 Class NAV 100,245Class R2 157 Total $438,585

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 reimbursement as described above, incurred forthe year ended October 31,2018 were equivalent to a net annual effective rate of 0.61% of the fund’s average dailynet assets.

Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expensesassociated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to thefund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among otherservices. These expenses are allocated to each share class based on its relative net assets at the time the expense wasincurred. These accounting and legal services fees incurred for the year ended October 31,2018 amounted to an annual rateof 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 has adopteddistribution and service plans with respect to Class A,Class B,Class C,Class R1,Class R2,Class R3 and Class R4 sharespursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of thefund. In addition, under a service plan for Class R1,Class R2,Class R3,Class R4 and Class R5 shares, the fund pays for certainother services. The fund may pay up to the following contractual rates of distribution and service fees under thesearrangements, expressed as an annual percentage of average daily net assets for each class of the fund’s shares.

Class Rule 12b-1 fee Service fee Class Rule 12b-1 fee Service fee

Class A 0.25% — Class R2 0.25% 0.25%Class B 1.00% — Class R3 0.50% 0.15%Class C 1.00% — Class R4 0.25% 0.10%Class R1 0.50% 0.25% Class R5 — 0.05%


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The fund’s Distributor has contractually agreed to waive 0.10% of Rule12b-1 fees for Class R4 shares. The current waiveragreement expires on February 28,2019,unless renewed by mutual agreement of the fund and the Distributor based upon adetermination that this is appropriate under the circumstances at the time. This contractual waiver amounted to $4,165 forClass R4 shares for the year ended October 31,2018.

Sales charges. Class A shares are assessed up-front sales charges,which resulted in payments to the Distributoramounting to $1,205,882 for the year ended October 31,2018.Of this amount, $199,174 was retained and used forprinting prospectuses, advertising, sales literature and other purposes, $952,383 was paid as sales commissions to broker-dealers and $54,325 was paid as sales commissions to sales personnel of Signator Investors, Inc., a broker-dealer affiliate ofthe Advisor.

Class A,Class B and Class C shares may be subject to contingent deferred sales charges (CDSCs).Certain Class A shares thatare acquired through purchases of $1 million or more and are redeemed within one year of purchase are subject to a 1.00%sales charge.Class B shares that are redeemed within six years of purchase are subject to CDSCs, at declining rates,beginning at 5.00%.Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC.CDSCs areapplied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares beingredeemed.Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services inconnection with the sale of these shares.During the year ended October 31,2018,CDSCs received by the Distributoramounted to $6,954,$5,000 and $21,461 for Class A,Class B and Class C shares, respectively.

Transfer agent fees. The John Hancock group of funds has a complex-wide transfer agent agreement with John HancockSignature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services aredetermined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It alsoincludes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to theirclients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain feesthat Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculatedmonthly 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 thesecategories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on therelative average daily net assets.

Class level expenses. Class level expenses for the year ended October 31, 2018 were:

Class Distribution and service fees Transfer agent fees

Class A $4,081,836 $1,759,434Class B 218,830 23,509Class C 2,613,151 281,138Class I — 1,143,247Class R1 62,709 1,054Class R2 9,361 228Class R3 21,896 447Class R4 14,572 513Class R5 988 241Class R6 — 134,137Total $7,023,343 $3,343,948

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


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Note 5 — Fund share transactionsTransactions in fund shares for the years ended October 31,2018 and 2017 were as follows:


Shares Amount Shares Amount

Class A shares

Sold 3,908,237 $195,431,643 3,264,922 $154,397,794Distributions reinvested 2,572,165 126,035,972 1,130,753 50,307,116Repurchased (5,315,986) (266,229,473) (8,977,782) (419,229,333)Net increase (decrease) 1,164,416 $55,238,142 (4,582,107) $(214,524,423)Class B shares

Sold 6,985 $311,697 22,417 $919,908Distributions reinvested 47,963 2,100,285 28,824 1,159,606Repurchased (338,946) (15,185,129) (483,229) (20,609,223)Net decrease (283,998) $(12,773,147) (431,988) $(18,529,709)Class C shares

Sold 490,470 $21,854,127 699,560 $29,838,549Distributions reinvested 500,633 21,917,704 188,998 7,601,487Repurchased (3,047,606) (135,562,557) (1,946,133) (82,960,217)Net decrease (2,056,503) $(91,790,726) (1,057,575) $(45,520,181)Class I shares

Sold 5,004,530 $262,150,554 16,691,861 $819,198,503Distributions reinvested 1,292,064 66,050,328 357,033 16,519,894Repurchased (7,167,496) (370,954,967) (36,556,765) (1,800,678,005)Net decrease (870,902) $(42,754,085) (19,507,871) $(964,959,608)Class R1 shares

Sold 43,457 $2,245,264 74,280 $3,627,416Distributions reinvested 7,248 365,941 1,918 87,730Repurchased (64,072) (3,290,751) (77,745) (3,770,183)Net decrease (13,367) $(679,546) (1,547) $(55,037)Class R2 shares

Sold 13,983 $723,150 33,654 $1,674,540Distributions reinvested 1,902 97,035 1,707 78,827Repurchased (44,011) (2,372,601) (33,710) (1,706,228)Net increase (decrease) (28,126) $(1,552,416) 1,651 $47,139Class R3 shares

Sold 7,764 $399,236 27,764 $1,366,830Distributions reinvested 5,746 290,724 1,641 75,243Repurchased (20,120) (1,042,118) (11,867) (589,762)Net increase (decrease) (6,610) $(352,158) 17,538 $852,311Class R4 shares

Sold 35,941 $1,849,979 9,359 $467,432Distributions reinvested 4,926 250,727 1,895 87,342Repurchased (16,957) (888,874) (9,803) (464,899)Net increase 23,910 $1,211,832 1,451 $89,875


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Shares Amount Shares Amount

Class R5 shares

Sold 6,546 $347,190 20,828 $1,024,936Distributions reinvested 3,997 204,672 1,054 48,823Repurchased (46,926) (2,485,375) (6,239) (295,954)Net increase (decrease) (36,383) $(1,933,513) 15,643 $777,805Class R6 shares

Sold 7,926,470 $412,588,073 45,161,698 2,152,901,8901

Distributions reinvested 605,341 30,999,498 877,872 40,654,268Repurchased (6,841,555) (354,842,633) (28,308,615) (1,336,235,773)Net increase 1,690,256 $88,744,938 17,730,955 $857,320,385Class NAV shares2

Sold 14,646,222 $780,100,3653 24,710,346 $1,163,214,825Distributions reinvested 1,821,850 93,260,514 — —Repurchased (3,565,558) (189,303,574) (3,439,265) (175,130,891)Net increase 12,902,514 $684,057,305 21,271,081 $988,083,934Total net increase 12,485,207 $677,416,626 13,457,231 $603,582,491

1 Includes in-kind subscriptions of approximately $1.135 billion by affiliates of the fund. The cost basis of the contributed securities is equal tothe market value of the securities on the date of the subscription.2 The inception date for Class NAV shares is 2-8-17.3 Includes in-kind subscriptions of approximately $348 million by affiliates of the fund. The cost basis of the contributed securities is equal tothe market value of the securities on the date of the subscription.

Affiliates of the fund owned 100% of Class NAV shares on October 31,2018. Such concentration of shareholders’ capitalcould have a material effect on the fund if such shareholders redeem from the fund.

Note 6 — Purchase and sale of securitiesPurchases and sales of securities, other than short-term investments and subscriptions in-kind, amounted to$2,363,182,124 and $2,735,282,737, respectively, for the year ended October 31,2018.

Note 7 — Investment by affiliated fundsCertain investors in the fund are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do notinvest in the fund for the purpose of exercising management or control; however, this investment may represent a significantportion of the fund’s net assets.At October 31,2018, funds within the John Hancock group of funds complex held 32.1% ofthe fund’s net assets. The following funds had an affiliate ownership of 5% or more of the fund’s net assets:

Fund Affiliated concentration

John Hancock Funds II Multimanager Lifestyle Growth Portfolio 6.9%John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio 6.4%John Hancock Funds II Multimanager Lifestyle Conservative Portfolio 5.1%


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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMTo the Board of Trustees of John Hancock Investment Trust and Shareholders of John Hancock FundamentalLarge Cap Core Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the fund’s investments, of John HancockFundamental Large Cap Core Fund (one of the funds constituting John Hancock Investment Trust, referred to hereafter as the“Fund”) as of October 31,2018, the related statement of operations for the year ended October 31,2018, the statements ofchanges in net assets for each of the two years in the period ended October 31,2018, including the related notes, and thefinancial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In ouropinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31,2018, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the periodended October 31,2018 and the financial highlights for each of the periods indicated therein in conformity with accountingprinciples generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund’s management.Our responsibility is to express an opinion onthe Fund’s financial statements based on our audits.We are a public accounting firm registered with the Public CompanyAccounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Fund inaccordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and ExchangeCommission and the PCAOB.

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements,whetherdue to error or fraud, and performing procedures that respond to those risks. Such procedures included examining,on a testbasis, evidence regarding the amounts and disclosures in the financial statements.Our audits also included evaluating theaccounting principles used and significant estimates made by management, as well as evaluating the overall presentation ofthe financial statements.Our procedures included confirmation of securities owned as of October 31,2018 bycorrespondence with the custodian and brokers;when replies were not received from brokers,we performed other auditingprocedures.We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Boston,Massachusetts

December 18,2018

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 INFORMATIONUnaudited

For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any,paid during its taxable year ended October 31,2018.

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

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

The fund paid $336,381,235 in long term capital gain dividends.

Eligible shareholders will be mailed a 2018 Form 1099-DIV in early 2019. This will reflect the tax character of all distributionspaid in calendar year 2018.

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


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CONTINUATION OF INVESTMENT ADVISORY AND SUBADVISORY AGREEMENTS

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 Investment Trust (the Trust) of theAdvisory Agreement (the Advisory Agreement) with John Hancock Advisers, LLC (the Advisor) and the SubadvisoryAgreement (the Subadvisory Agreement) with John Hancock Asset Management a division of Manulife Asset Management(US) LLC (the Subadvisor) for John Hancock Fundamental Large Cap Core Fund (the fund). The Advisory Agreement andSubadvisory Agreement are collectively referred to as the Agreements. Prior to the June 18-21,2018 in-person meeting atwhich the Agreements were approved, the Board also discussed and considered information regarding the proposedcontinuation of the Agreements at an in-person meeting held on May 29-31,2018.

Approval of Advisory and Subadvisory Agreements

At in-person meetings held on June 18-21,2018, the Board, including the Trustees who are not parties to any Agreement orconsidered to be interested persons of the Trust under the Investment Company Act of 1940,as amended (the 1940 Act) (theIndependent Trustees), reapproved for an annual period the continuation of the Advisory Agreement between the Trust andthe Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to the fund.

In considering the Advisory Agreement and the Subadvisory Agreement, the Board received in advance of the meetings avariety of materials relating to the fund, the Advisor and the Subadvisor, including comparative performance, fee andexpense information for a peer group of similar funds prepared by an independent third-party provider of fund data,performance information for an applicable benchmark index; and,with respect to the Subadvisor, comparative performanceinformation for comparably managed accounts, as applicable, and other information provided by the Advisor and theSubadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor under theirrespective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the fundand any compensation paid to affiliates of the Advisor.At the meetings at which the renewal of the Advisory Agreement andSubadvisory Agreement are considered,particular focus is given to information concerning fund performance, comparabilityof fees and total expenses, and profitability.However, the Board noted that the evaluation process with respect to theAdvisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with managementand information provided to the Board (including its various committees) at prior meetings with respect to the servicesprovided by the Advisor and the Subadvisor to the fund, including quarterly performance reports prepared by managementcontaining reviews of investment results and prior presentations from the Subadvisor with respect to the fund. Theinformation received and considered by the Board in connection with the May and June meetings and throughout the yearwas both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts ofinterest. The Board also considered the nature, quality, and extent of non-advisory services, if any, to be provided to the fundby the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the SubadvisoryAgreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor andSubadvisor in providing services to the fund.

Throughout the process, the Board asked questions of and requested additional information from management. The Board isassisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counselthroughout the process. The Independent Trustees also received a memorandum from their independent legal counseldiscussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed theproposed continuation of the Agreements in private sessions with their independent legal counsel at which norepresentatives of management were present.

Approval of Advisory Agreement

In approving the Advisory Agreement with respect to the fund, the Board, including the Independent Trustees, considered avariety of factors, including those discussed below.The Board also considered other factors (including conditions and trendsprevailing generally in the economy, the securities markets, and the industry) and did not treat any single factor as


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determinative, and each Trustee may have attributed different weights to different factors. The Board’s conclusions may bebased in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board’s ongoingregular 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 fund, the Board reviewed information provided by the Advisor relating to itsoperations and personnel, descriptions of its organizational and management structure, and information regarding theAdvisor’s compliance and regulatory history, including its Form ADV.The Board also noted that on a regular basis it receivesand reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the fund’s compliance policies andprocedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services providedby the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining andmonitoring its own and the fund’s compliance programs, risk management programs, liquidity management programs andcybersecurity programs,had expanded over time as a result of regulatory,market and other developments. The Boardconsidered that the Advisor is responsible for the management of the day-to-day operations of the fund, including,but notlimited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible formonitoring and reviewing the activities of the Subadvisor and third-party service providers. The Board also considered thesignificant risks assumed by the Advisor in connection with the services provided to the fund including entrepreneurial risk insponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliancerisks 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 theirknowledge of the Advisor’s management and the quality of the performance of the Advisor’s duties, through Boardmeetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trustand of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).

In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:

(a) the skills and competency with which the Advisor has in the past managed the Trust’s affairs and itssubadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performanceand compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review ofbrokerage matters, including with respect to trade allocation and best execution and the Advisor’s timelinessin 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 fundindustry developments;

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

(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level andquality of services to the fund;

(f) the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experiencewith the fund; and

(g) the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit toshareholders 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 theAdvisory Agreement with respect to the fund.


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Investment performance. In considering the fund’s performance, the Board noted that it reviews at its regularly scheduledmeetings information about the fund’s performance results. In connection with the consideration of the Advisory Agreement,the Board:

(a) reviewed information prepared by management regarding the fund’s performance;

(b) considered the comparative performance of an applicable benchmark index;

(c) considered the performance of comparable funds, if any, as included in the report prepared by an independentthird-party provider of fund data; and

(d) took into account the Advisor’s analysis of the fund’s performance and its plans and recommendationsregarding the Trust’s subadvisory arrangements generally.

The Board noted that while it found the data provided by the independent third-party generally useful it recognized itslimitations, including in particular that the data may vary depending on the end date selected and the results of theperformance comparisons may vary depending on the selection of the peer group. The Board noted that the fundunderperformed its benchmark index for the one-, five- and-ten-year periods and outperformed its benchmark index for thethree-year period ended December 31,2017. The Board also noted that the fund underperformed its peer group average forthe one-year period and outperformed its peer group average for the three-, five- and ten-year periods ended December 31,2017. The Board took into account management’s discussion of the fund’s performance, including the favorableperformance relative to the benchmark index for the three-year period and to the peer group for the three-, five- and ten-yearperiods. The Board concluded that the fund’s performance has generally been in line with or outperformed the historicalperformance of comparable funds.

Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of funddata, including, among other data, the fund’s contractual and net management fees (and subadvisory fees, to the extentavailable) and total expenses as compared to similarly situated investment companies deemed to be comparable to the fundin light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisorand the Subadvisor. The Board considered the fund’s ranking within a smaller group of peer funds chosen by the independentthird-party provider, as well as the fund’s ranking within a broader group of funds. In comparing the fund’s contractual andnet management fees to those of comparable funds, the Board noted that such fees include both advisory and administrativecosts. The Board noted that net management fees and net total expenses for the fund are higher than the peer group median.

The Board took into account management’s discussion of the fund’s expenses. The Board also took into accountmanagement’s discussion with respect to the overall management fee and the fees of the Subadvisor, including the amountof the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services renderedfor those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fee. Inaddition, the Board took into account that management had agreed to implement an overall fee waiver across the complex,including the fund,which is discussed further below.The Board also noted actions taken over the past several years to reducethe fund’s operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/orreimbursing expenses with respect to the fund and that the fund has breakpoints in its contractual management fee schedulethat reduces management fees as assets increase. The Board also noted that the fund’s distributor, an affiliate of the Advisor,has agreed to waive a portion of its Rule 12b-1 fee for a share class of the fund. The Board noted that the fund has avoluntary fee waiver and/or expense reimbursement,which reduces certain expenses of the fund. The Board reviewedinformation provided by the Advisor concerning the investment advisory fee charged by the Advisor or one of its advisoryaffiliates to other clients (including other funds in the John Hancock Fund Complex) having similar investment mandates, ifany. The Board considered any differences between the Advisor’s and Subadvisor’s services to the fund and the services theyprovide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to the fund isreasonable in light of the nature, extent and quality of the services provided to the fund under the Advisory Agreement.


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Profitability/Fall out benefits. In considering the costs of the services to be provided and the profits to be realized by theAdvisor 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 Advisorand its affiliates with respect to the fund;

(c) received and reviewed profitability information with respect to the John Hancock Fund Complex as a wholeand with respect to the fund;

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

(e) considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders ofthe Trust directly or through their separate accounts, receive certain tax credits or deductions relating toforeign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits,whichare not available to participants in qualified retirement plans under applicable income tax law,are reflected inthe profitability information reviewed by the Board;

(f) considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to anadministrative services agreement;

(g) noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, andthat the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund;

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

(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services tothe fund;

(j) noted that the subadvisory fee for the fund is paid by the Advisor;

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

(l) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level ofservices it provides to the 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 affiliates (including theSubadvisor) from their relationship with the fund was reasonable and not excessive.

Economies of scale. In considering the extent to which economies of scale would be realized as the fund grows and whetherfee levels reflect these economies of scale for the benefit of fund shareholders, the Board:

(a) considered that the Advisor has contractually agreed to waive a portion of its management fee for certainfunds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwisereimburse the expenses of the participating portfolios (the reimbursement). This waiver is based uponaggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated dailyand allocated among all the participating portfolios in proportion to the daily net assets of each fund;


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(b) reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpointsat the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for thefund; and (ii) although economies of scale cannot be measured with precision, these arrangements permitshareholders of the fund to benefit from economies of scale if the fund grows. The Board also took intoaccount management’s discussion of the fund’s advisory fee structure; and

(c) the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board alsonoted that if the fund’s assets increase over time, the fund 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 (andother funds in the John Hancock Fund Complex);

(2) the historical and current performance of the fund and comparative performance information relating to anapplicable benchmark index and comparable funds; and

(3) the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable feeinformation 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, the Board receivedinformation provided to the Board by the Subadvisor, including the Subadvisor’s Form ADV,as well as took into accountinformation presented throughout the past year. The Board considered the Subadvisor’s current level of staffing and itsoverall resources, as well as received information relating to the Subadvisor’s compensation program.The Board reviewedthe Subadvisor’s history and investment experience, as well as information regarding the qualifications, background,andresponsibilities of the Subadvisor’s investment and compliance personnel who provide services to the fund. The Board alsoconsidered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board alsoconsidered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatoryhistory, including whether it was involved in any regulatory actions or investigations as well as material litigation, and anysettlements 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 organizational andstaffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews withthe Subadvisor and present reports to the Independent Trustees regarding the same,which includes evaluating theregulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federalsecurities 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 theSubadvisor’s responsibilities include the development and maintenance of an investment program for the fund that isconsistent with the fund’s investment objective, the selection of investment securities and the placement of orders for thepurchase and sale of such securities, as well as the implementation of compliance controls related to performance of theseservices. The Board also received information with respect to the Subadvisor’s brokerage policies and practices, includingwith 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 theSubadvisor of its relationship with the fund, the Board noted that the fees under the Subadvisory Agreement are paid by theAdvisor and not the fund. The Board also received information and took into account any other potential conflicts of interestthe Advisor might have in connection with the Subadvisory Agreement.


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

Subadvisory fees. The Board considered that the fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays asubadvisory fee to the Subadvisor.As noted above, the Board also considered the fund’s subadvisory fees as compared tosimilarly situated investment companies deemed to be comparable to the fund as included in the report prepared by theindependent third party provider of fund data, to the extent available. The Board noted that the limited size of the Lipper peergroup was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisorto the Subadvisor with respect to the fund and compared them to fees charged by the Subadvisor to manage othersubadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.

Subadvisor performance. As noted above, the Board considered the fund’s performance as compared to the fund’s peergroup and the benchmark index and noted that the Board reviews information about the fund’s performance results at itsregularly 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 theSubadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, asapplicable.

The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including thefollowing:

(1) the Subadvisor has extensive experience and demonstrated skills as a manager;

(2) the performance of the fund has generally been in line with or outperformed the historical performance ofcomparable funds;

(3) the subadvisory fee is reasonable in relation to the level and quality of services being provided under theSubadvisory Agreement; and

(4) noted that the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpointsare reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit fromeconomies of scale if the fund grows.

* * *

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 SubadvisoryAgreement would be in the best interest of the fund and its shareholders.Accordingly, the Board, and the IndependentTrustees voting separately, approved the Advisory Agreement and Subadvisory Agreement for an additional one-year period.


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

Independent Trustees

Name, year of birthPosition(s) held with TrustPrincipal occupation(s) and otherdirectorships during past 5 years

Trusteeof theTrustsince1

Number of JohnHancock funds

overseen byTrustee

Hassell H.McClellan, Born: 1945 2012 215

Trustee and Chairperson of the BoardDirector/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E.Carroll School of Management, Boston College (retired 2013). Trustee (since 2014) and Chairperson of the Board (since2017), John Hancock Collateral Trust; Trustee (since 2015) and Chairperson of the Board (since 2017), John HancockExchange-Traded Fund Trust; Trustee (since 2012) and Chairperson of the Board (since 2017), John Hancock retailfunds3; Trustee (2005-2006 and since 2012) and Chairperson of the Board (since 2017), John Hancock Funds III; Trustee(since 2005) and Chairperson of the Board (since 2017), John Hancock Variable Insurance Trust and John Hancock FundsII.

Charles L.Bardelis,2 Born: 1941 2012 215

TrusteeDirector, Island Commuter Corp. (marine transport). Trustee, John Hancock Collateral Trust (since 2014), Trustee, JohnHancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (since 2012); Trustee, JohnHancock Funds III (2005–2006 and since 2012); Trustee, John Hancock Variable Insurance Trust (since 1988); Trustee,John Hancock Funds II (since 2005).

James R.Boyle, Born: 1959 2015 215

TrusteeChief Executive Officer, Foresters Financial (since 2018); Chairman and Chief Executive Officer, Zillion Group, Inc.(formerly HealthFleet, Inc.) (healthcare) (2014-2018); Executive Vice President and Chief Executive Officer, U.S. LifeInsurance Division of Genworth Financial, Inc. (insurance) (January 2014–July 2014); Senior Executive Vice President,Manulife Financial, President and Chief Executive Officer, John Hancock (1999–2012); Chairman and Director, JohnHancock Advisers, LLC, John Hancock Funds, LLC, and John Hancock Investment Management Services, LLC(2005–2010). Trustee, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2015);Trustee, John Hancock retail funds3 (2005–2010; 2012–2014 and since 2015); Trustee, John Hancock Variable InsuranceTrust and John Hancock Funds II (2005–2014 and since 2015).

Peter S.Burgess,2 Born: 1942 2012 215

TrusteeConsultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, ArthurAndersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since2004); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee,John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee,John Hancock retail funds3 (since 2012); Trustee, John Hancock Funds III (2005–2006 and since 2012); Trustee, JohnHancock Variable Insurance Trust and John Hancock Funds II (since 2005).

William H.Cunningham, Born: 1944 1994 215

TrusteeProfessor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and formerPresident of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln NationalCorporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009–2014). Trustee,John Hancock retail funds3 (since 1986); Trustee, John Hancock Variable Insurance Trust (since 2012); Trustee, JohnHancock Funds II (2005–2006 and since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, JohnHancock Exchange-Traded Fund Trust (since 2015).

Trustees and Officers


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Independent Trustees (continued)




overseen byTrustee

Grace K.Fey, Born: 1946 2012 215

TrusteeChief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier CapitalManagement Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee, John Hancock Collateral Trust (since2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds3 (since2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2008).

Theron S.Hoffman,2 Born: 1947 2012 215

TrusteeChief Executive Officer, T. Hoffman Associates, LLC (consulting firm) (since 2003); Director, The Todd Organization(consulting firm) (2003–2010); President, Westport Resources Management (investment management consulting firm)(2006–2008); Board Member, Senior Managing Director, Partner, and Operating Head, Putnam Investments(2000–2003); Executive Vice President, The Thomson Corp. (financial and legal information publishing) (1997–2000).Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015);Trustee, John Hancock retail funds3 (since 2012); Trustee, John Hancock Variable Insurance Trust and John HancockFunds II (since 2008).

Deborah C. Jackson, Born: 1952 2008 215

TrusteePresident, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, National Association ofCorporate Directors/New England (since 2015); Board of Directors, Association of Independent Colleges and Universitiesof Massachusetts (since 2014); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Boardof Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since2001); Board of Directors of American Student Assistance Corporation (1996–2009); Board of Directors of Boston StockExchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011).Trustee, John Hancock retail funds3 (since 2008); Trustee, John Hancock Variable Insurance Trust and John HancockFunds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); and Trustee, John Hancock Exchange-TradedFund Trust (since 2015).

James M.Oates, Born: 1946 2012 215TrusteeManaging Director,Wydown Group (financial consulting firm) (since 1994);Chairman and Director, Emerson InvestmentManagement, Inc. (2000-2015); Independent Chairman,Hudson Castle Group, Inc. (formerly IBEX Capital Markets, Inc.)(financial services company) (1997–2011);Director, Stifel Financial (since 1996);Director, Investor Financial ServicesCorporation (1995-2007);Director,Connecticut River Bancorp (1998-2014);Director/Trustee,Virtus Funds (since 1988).Trustee (since 2014) and Chairperson of the Board (2014-2016), John Hancock Collateral Trust; Trustee (since 2015) andChairperson of the Board (2015-2016), John Hancock Exchange-Traded Fund Trust; Trustee (since 2012) and Chairpersonof the Board (2012-2016), John Hancock retail funds3; Trustee (2005-2006 and since 2012) and Chairperson of the Board(2012-2016), John Hancock Funds III; Trustee (since 2004) and Chairperson of the Board (2005-2016), John HancockVariable Insurance Trust; Trustee (since 2005) and Chairperson of the Board, John Hancock Funds II (2005-2016).

Steven R.Pruchansky, Born: 1944 1994 215

Trustee and Vice Chairperson of the BoardManaging Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida,Inc. (since 2000); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board ofAdvisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, RightFunding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992) and Chairperson of the Board (2011–2012),John Hancock retail funds3; Trustee and Vice Chairperson of the Board, John Hancock retail funds3 John HancockVariable Insurance Trust, and John Hancock Funds II (since 2012); Trustee and Vice Chairperson of the Board, JohnHancock Collateral Trust (since 2014); Trustee and Vice Chairperson of the Board, John Hancock Exchange-Traded FundTrust (since 2015).


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Independent Trustees (continued)




overseen byTrustee

Gregory A.Russo, Born: 1949 2009 215

TrusteeDirector and Audit Committee Chairman (since 2012), and Member, Audit Committee and Finance Committee (since2011), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (since2012) and Finance Committee Chairman (since 2014), The Moorings, Inc. (nonprofit continuing care community); ViceChairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG(1998–2002); Chairman and Treasurer, Westchester County, New York, Chamber of Commerce (1986–1992); Director,Treasurer, and Chairman of Audit and Finance Committees, Putnam Hospital Center (1989–1995); Director andChairman of Fundraising Campaign, United Way of Westchester and Putnam Counties, New York (1990–1995). Trustee,John Hancock retail funds3 (since 2008); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II(since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust(since 2015).

Non-Independent Trustees4




overseen byTrustee

Andrew G.Arnott, Born: 1971 2017 215

President and Non-Independent TrusteeHead of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018);Executive Vice President, John Hancock Financial Services (since 2009, including prior positions); Director and ExecutiveVice President, John Hancock Advisers, LLC (since 2005, including prior positions); Director and Executive Vice President,John Hancock Investment Management Services, LLC (since 2006, including prior positions); President, John HancockFunds, LLC (since 2004, including prior positions); President, John Hancock retail funds,3 John Hancock VariableInsurance Trust, and John Hancock Funds II (since 2007, including prior positions); President, John Hancock CollateralTrust and John Hancock Exchange-Traded Fund Trust (since 2014). Trustee, John Hancock Collateral Trust, John HancockExchange-Traded Fund Trust, John Hancock retail funds,3 John Hancock Variable Insurance Trust, and John HancockFunds II (since 2017).

Marianne Harrison, Born: 1963 2018 215

Non-Independent TrusteePresident and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member,Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, anindustry-led innovation center that fosters technology companies in Canada (since 2017); Member, Board of Directors,Manulife Assurance Canada (since 2015); Board Member, St. Mary’s General Hospital Foundation (since 2014); Member,Board of Directors, Manulife Bank of Canada (since 2013); Member, Standing Committee of the Canadian Life & HealthAssurance Association (since 2013); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, JohnHancock New York (2012–2013). Trustee, John Hancock Collateral Trust, John Hancock Exchange-Traded Fund Trust,John Hancock retail funds3, John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2018).

Warren A.Thomson, Born: 1955 2012 215

Non-Independent TrusteeSenior Executive Vice President and Chief Investment Officer, Manulife Financial and The Manufacturers Life InsuranceCompany (since 2009); Chairman, Manulife Asset Management (since 2001, including prior positions); Director andChairman, Manulife Asset Management Limited (since 2006); Director and Chairman, Hancock Natural ResourcesGroup, Inc. (since 2013). Trustee, John Hancock retail funds,3 John Hancock Variable Insurance Trust, and John HancockFunds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded FundTrust (since 2015).


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Principal officers who are not Trustees

Name, year of birthPosition(s) held with TrustPrincipal occupation(s)during past 5 years

Officerof theTrustsince

Francis V.Knox, Jr., Born:1947 2005

Chief Compliance OfficerVice President, John Hancock Financial Services (since 2005); Chief Compliance Officer, John Hancock retail funds,3 JohnHancock Variable Insurance Trust, John Hancock Funds II, John Hancock Advisers, LLC, and John Hancock InvestmentManagement Services, LLC (since 2005); Chief Compliance Officer, John Hancock Collateral Trust and John HancockExchange-Traded Fund Trust (since 2014).

Charles A.Rizzo, Born: 1957 2007

Chief Financial OfficerVice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Advisers, LLC andJohn Hancock Investment Management Services, LLC (since 2008); Chief Financial Officer, John Hancock retail funds,3

John Hancock Variable Insurance Trust and John Hancock Funds II (since 2007); Chief Financial Officer, John HancockCollateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

Salvatore Schiavone, Born: 1965 2010

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

Christopher (Kit) Sechler, Born:1973 2018

Chief Legal Officer and SecretaryVice President and Deputy Chief Counsel, John Hancock Investments (since 2015); Assistant Vice President and SeniorCounsel (2009–2015), John Hancock Investments; Chief Legal Officer and Secretary, John Hancock retail funds(2), JohnHancock Variable Insurance Trust, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since2018); Assistant Secretary of John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC(since 2009).

The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116.The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trustand is available without charge, upon request, by calling 800-225-5291.

1 Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee’s death, retirement, resignation, or removal.Mr. Boyle has served as Trustee at various times prior to the date listed in the table.

2 Member of the Audit Committee.3 “John Hancock retail funds” comprises John Hancock Funds III and 40 other John Hancock funds consisting of 30 series of other John

Hancock trusts and 10 closed-end funds.4 The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates.


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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†#

Theron S. Hoffman*Deborah C. JacksonJames M. OatesGregory A. RussoWarren A. Thomson†

OfficersAndrew G. ArnottPresident

Francis V. Knox, Jr.Chief Compliance Officer

Charles A. RizzoChief Financial Officer

Salvatore SchiavoneTreasurer

Christopher (Kit) Sechler**Secretary and Chief Legal Officer

Investment advisorJohn Hancock Advisers, LLC

SubadvisorJohn Hancock Asset Management a division of ManulifeAsset Management (US) LLC

Principal distributorJohn Hancock Funds, LLC

CustodianState Street Bank and Trust Company

Transfer agentJohn Hancock Signature Services, Inc.

Legal counselK&L Gates LLP

Independent registered public accounting firmPricewaterhouseCoopers LLP

* Member of the Audit Committee† Non-Independent Trustee#Effective 6-19-18

**Effective 9-13-18

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

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

We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on ourwebsite 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.P.O.Box 55913Boston,MA 02205-5913

Express mail:John Hancock Signature Services, Inc.Suite 5591330 Dan RoadCanton,MA 02021

More information


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Not part of the annual report

JOBNAME: No Job Name PAGE: 37 SESS: 29 OUTPUT: Tue Dec 18 18:01:22 2018 SUM: B36C5416/qaJobz/JohnHancock/shareholder_2015/JH50FundamentalLargeCapCoreFund/JH50_Fundamental_Large_Cap_Core_AR

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

Fundamental Large Cap Value

New Opportunities

Regional Bank

Small Cap Core

Small Cap Growth

Small Cap Value

U.S.Global Leaders Growth

U.S.Growth

U.S.Quality Growth

Value Equity

GLOBAL AND INTERNATIONAL EQUITY FUNDS

Disciplined Value International

Emerging Markets

Emerging Markets Equity

Fundamental Global Franchise

Global Equity

Global Shareholder Yield

Global Thematic Opportunities

Greater China Opportunities

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 Credit Opportunities

Spectrum Income

Strategic Income Opportunities

Tax-Free Bond

ALTERNATIVE AND SPECIALTY FUNDS

Absolute Return Currency

Alternative Asset Allocation

Enduring Assets

Global Absolute Return Strategies

Global Conservative Absolute Return

Global Focused Strategies

Redwood

Seaport Long/Short

Technical Opportunities

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

John Hancock family of funds

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ASSET ALLOCATION

Balanced

Income Allocation

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 Mid Cap ETF

John Hancock Multifactor Small Cap ETF

John Hancock Multifactor Technology ETF

John Hancock Multifactor Utilities ETF

ENVIRONMENTAL, SOCIAL, AND GOVERNANCEFUNDS

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 Funds, 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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Connect with John Hancock Investments: @JH_Investments | jhinvestmentsblog.com

John Hancock Investments

A trusted brand

John Hancock Investments is a premier asset manager representing one of

America’s most trusted brands, with a heritage of financial stewardship dating

back to 1862. Helping our shareholders pursue their financial goals is at the

core of everything we do. It’s why we support the role of professional financial

advice and operate with the highest standards of conduct and integrity.

A better way to invest

We serve investors globally through a unique multimanager approach:

We search the world to find proven portfolio teams with specialized

expertise for every strategy we offer, then we apply robust investment

oversight to ensure they continue to meet our uncompromising standards

and serve the best interests of our shareholders.

Results for investors

Our unique approach to asset management enables us to provide a diverse set

of investments backed by some of the world’s best managers, along with strong

risk-adjusted returns across asset classes.

John Hancock Funds, LLC n Member FINRA, SIPC200 Berkeley Street n Boston, MA 02116-5010800-225-5291 n jhinvestments.com

This report is for the information of the shareholders of John Hancock FundamentalLarge Cap Core Fund. It is not authorized for distribution to prospective investorsunless preceded or accompanied by a prospectus.

MF647915 50A 10/1812/18

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