JOHN HANCOCK ANNOUNCES PORTFOLIO MANAGER CHANGES FOR JOHN HANCOCK CLOSED-END FUNDS AND ETFs

BOSTON, Feb. 15, 2022 /PRNewswire/ - John Hancock Investment Management LLC (the "Adviser") today announced changes to the portfolio management teams for John Hancock Preferred Income Fund (NYSE: HPI), John Hancock Preferred Income Fund II (NYSE: HPF), John Hancock Preferred Income Fund III (NYSE: HPS), John Hancock Premium Dividend Fund (NYSE: PDT), John Hancock Tax-Advantaged Divided Fund (NYSE: HTD), John Hancock Income Securities Trust (NYSE: JHS), John Hancock Investors Trust (NYSE: JHI), John Hancock Mortgage-Backed Securities ETF (NYSE Arca: JHMB), and John Hancock Preferred Income ETF (NYSE Arca: JHPI). Each Fund is advised by the Adviser and subadvised by Manulife Investment Management (US) LLC (the "Subadviser").

Effective March 31, 2022, Caryn E. Rothman, CFA, will be added as a portfolio manager to John Hancock Preferred Income Fund, John Hancock Preferred Income Fund II, and John Hancock Preferred Income Fund III, John Hancock Premium Dividend Fund, John Hancock Tax-Advantaged Dividend Income Fund, John Hancock Investors Trust, and John Hancock Preferred Income ETF. Ms. Rothman is being named as head of the global credit team and has been with the Subadviser since 1996.

As part of these changes, effective March 31, 2022, Bradley L. Lutz, CFA is joining the global multi-sector team at the Subadviser. Consequently, effective December 31, 2022, Mr. Lutz will be removed as a portfolio manager to John Hancock Preferred Income Fund, John Hancock Preferred Income Fund II, and John Hancock Preferred Income Fund III, John Hancock Premium Dividend Fund, John Hancock Tax-Advantaged Dividend Income Fund, and John Hancock Preferred Income ETF. Together with the addition of Ms. Rothman, Joseph H. Bozoyan, CFA, will continue to serve as a portfolio manager to the Funds.

Effective March 31, 2022, Connor Minnaar, CFA, will be added as a portfolio manager to John Hancock Income Securities Trust and John Hancock Mortgage-Backed Securities ETF. Mr. Minnaar previously served as a securitized analyst on the securitized assets research team and has been with the Subadviser since 2006.

Effective March 31, 2022, Jeffrey N. Given, CFA, and John F. Addeo, CFA will be removed as portfolio managers to John Hancock Investors Trust. Together with the addition of Ms. Rothman, Dennis F. McCafferty, CFA, will continue to serve as a portfolio manager to the Fund.

The Subadviser believes these updates to its fixed-income investment teams will strengthen its global organization for today and for the years ahead. "We're excited to make these announcements to the global fixed-income franchise, a more than 150-person-deep bench of talented investment professionals who practice a team-based approach to portfolio management," said Christopher P. Conkey, CFA, head of public markets, Manulife Investment Management. "We're confident that the teams' investment philosophies and collaborative processes will remain unchanged and will continue to help our clients reach their investment goals."

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.

An investor should consider a Fund's investment objectives, risks, charges and expenses carefully before investing. Investing involves risks, including the potential loss of principal.

John Hancock Investment Management LLC is the investment advisor for the closed-end funds. 

John Hancock Mortgage-Backed Securities ETF and John Hancock Preferred Income ETF are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Manulife Investment Management (US) LLC in all markets. Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Manulife Investment Management (US) LLC.

© 2022 John Hancock Investment Management. All rights reserved. 

About John Hancock Investment Management
A company of Manulife Investment Management, we serve investors through a unique multimanager approach, complementing our extensive in-house capabilities with an unrivaled network of specialized asset managers, backed by some of the most rigorous investment oversight in the industry. The result is a diverse lineup of time-tested investments from a premier asset manager with a heritage of financial stewardship.

About Manulife Investment Management
Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 18 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

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