Examples of business or market sectors where this risk may be particularly high include: a) technology-related businesses, including Internet-related businesses, b) small-cap securities and c) foreign securities. If the John Hancock Stable Value Guaranteed Investment Fund ('SVGIF') is selected or if the Fund selected invests in the SVGIF, John Hancock may earn more from amounts invested in its general account via SVGIF than the interest amount it credits to SVGIF contract holders, depending on investment and market conditions affecting the general account, in which case this 'spread' revenue is retained by John Hancock. The highest speculative-grade rating is Ba1. Market Risk for Fixed Income. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Fixed income, or bond Funds are often categorized by the duration and credit quality of the bonds held in the underlying fund. Such trade restrictions may be more restrictive than the above guidelinesRestricting the number of exchanges made during a defined periodRestricting the dollar amount of exchangeRestricting the method used to submit exchanges (e.g., requiring exchange requests to be submitted in writing via U.S. mail)Restricting exchanges into and out of certain investment options Participants can read about the short-term trading policy at myplan.johnhancock.com under the "modify your account - change account" feature. Ratings are a comprehensive measure of financial strength. It is divided into two sections, investment grade and speculative grade. Past performance is no guarantee of future results. For more information, please contact your financial representative. These investment options may be sub-accounts (pooled funds) investing directly in underlying mutual fund, collective trusts, or ETFs, or they may be Guaranteed Interest Accounts.The Funds offered on the JH Signature platform are classified into five risk categories. Please call 800-395-1113 to obtain the Fund Sheet for the group annuity investment option sub-accounts and/or to obtain a prospectus (or Offering Memorandum/Trust Document) for the sub-accounts' underlying fund, that are available on request. The Signature Menu was introduced December 8, 2014. Any change in the FER of an underlying fund will affect the Expense Ratio of the investment option which invests in the underlying fund.The ER applies daily at a rate equivalent to the annual rate shown, and may vary to reflect changes in the expenses of an underlying fund and other factors.For Expense Ratio information current as of the most recent quarter end, please refer to the monthly Return and Fees listing available from John Hancock upon request. The statements in this letter represent the views of the Division of Investment Management. All rights reserved. Like money market, stable value pays interest and offers a fixed net asset value. In either case, the redemption of your interest by the affected fund, as well as the investment of the redemption proceeds by the ''new'' fund, may result in transaction costs to the funds because the affected funds may find it necessary to sell securities and the ''new'' funds will find it necessary to invest the redemption proceeds. Fund availability subject to regulatory approval and may vary from state to state. John Hancock Life Insurance Company (U.S.A.) makes available a platform of investment alternatives to sponsors or administrators of retirement plans without regard to the individualized needs of any plan. Although there can be no assurances that all risks can be eliminated, John Hancock as manager of the underlying funds will use its best efforts to manage and minimize such risks and costs. Not available to defined benefit plans. Although gathered from reliable sources, the information is not represented or warranted by Morningstar to be accurate, correct, complete or timely. Withdrawals caused by the Plan sponsor may either be paid out immediately (subject to a market value adjustment) or at the full contract value over a period of five years. The underlying securities in each portfolio are the primary factor Morningstar uses as the investment objective and investment strategy stated in a funds prospectus may not be sufficiently detailed for our proprietary classification methodology. ** Performance of the Sub-account The performance data for a sub-account for any period prior to the sub-account Inception Date is hypothetical based on the performance of the underlying portfolio.+This class was introduced February 23, 2007. Any difference between the Portfolios market value and book value will be taken into consideration when setting future crediting rates.For further details regarding risk and other risks that may apply please refer to the Offering Memorandum. Due to abnormal market conditions or redemption activity the fund may temporarily invest in cash and cash equivalents. It is divided into two sections, investment grade and speculative grade. FTSE Treasury Bill 3-Month Index: An unmanaged, market capitalization weighted, index of 3-month Treasury bills. Performance current to the most recent month-end is available at myplan.johnhancock.com. Investments in the Fund will accrue interest at the applicable monthly crediting rate, which rate will be set based upon a formula but may be adjusted from time to time as agreed upon by the Stability Provider(s) and John Hancock Life Insurance Company (USA). If the fund is new and has no portfolio history, Morningstar estimates where it will fall before giving it a permanent category assignment. The information shown is based on the most recent available information for the underlying mutual fund, collective trust, or ETF (collectively referred to as underlying fund) as of the date of printing and is subject to change. Manager or Sub-Adviser refers to the manager of the underlying fund, or to the sub-adviser of the underlying John Hancock Trust, John Hancock Funds II, or John Hancock Funds III fund in which the sub-account invests. No outcome establish. These charges, if included, would otherwise reduce the total return for a participant's account. Categories may be changed based on recent changes to the portfolio. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. **A funds investment objectives, risks, charges, and expenses should be considered carefully before investing. Morningstar Category: 2023 Morningstar. ***Morningstar Portfolio Ratings All Morningstar data is 2023 by Morningstar, Inc. All rights reserved. Contact your John Hancock representative for details.An investment in the John Hancock Stable Value Fund is not an insured deposit, nor an obligation of, nor guaranteed by, John Hancock USA, the Fund's Trustee or its Advisor, The Federal Deposit Insurance Corporation (FDIC) or any government agency and is subject to certain market risks. 2A. Because the fund invests in the separate account, the value of the fund and its ability to honor withdrawal requests from plan participants depends, in part, on the performance of JHLH. p45. Allocation percentages may vary or be adjusted due to market or economic conditions or other reasons as set out in the prospectus. The lowest investment-grade rating is Baa3. If a 5 year Standard Deviation is not available for a Morningstar Category, then the 5 year Standard Deviation of the underlying fund's Morningstar Category Index is used to determine the Fund's risk category. 1 Stable value funds have a low sensitivity to interest-rate changes Contact your John Hancock representative if you wish to obtain a copy.Units of the Fund have not been registered under the Securities Act of 1933, as amended, or under the securities laws of any other jurisdiction; and the Fund is not registered under the Investment Company Act of 1940, as amended, or other applicable law, and participants are not entitled to the protections of such Act. Standard Deviation is defined by Morningstar as a statistical measurement of dispersion about an average, which, for an underlying fund, depicts how widely the returns varied over a certain period of time.The placement of each investment option's risk/return category is subject to change. The underlying fund company has not reviewed the sub-accounts performance. The ticker symbols do not directly apply to the John Hancock sub-account and therefore any public information accessed using these symbols will not reflect the unit value of the subaccount, nor will such information reflect sub-account, contract-level or participant-level charges under your plan's group annuity contract. Past performance is no guarantee of future results.Morningstar assigns categories by placing funds into peer groups based on their underlying holdings. Depending on the Funds selected or recommended by the plan fiduciaries (and whether or not any Funds are recommended or selected), John Hancock and its affiliates may receive additional compensation from the Funds, in the form of 12b-1 fees, transfer agent fees, investment management fees, or otherwise. The total revenue John Hancock and its affiliates receive from a fund advised or subadvised by John Hancock affiliates is higher than those advised or subadvised exclusively by unaffiliated entities. Fund0.611.832.462.702.843.11--Performance is based on the historical crediting rates applied to balances on deposit in this plan'sstable value investment option and is net of total fees. Manager or Sub-Adviser refers to the manager of the underlying fund, or to the sub-adviser of the underlying John Hancock Trust, John Hancock Funds II, or John Hancock Funds III fund in which the sub-account invests. Performance does not reflect any applicable contract-level or participant-level charges, fees for guaranteed benefits if elected by participant, or any redemption fees imposed by an underlying mutual fund, collective trust or ETF. Ultrashort Bond: Ultrashort bond portfolios invest primarily in investment-grade U.S. fixed-income issues and have durations of less than one year (or, if duration is unavailable, average effective maturities of less than one year). The availability of products, Funds and contract features may be subject to Broker-Dealer Firm approval, State approval, Broker Licensing requirements, tax law requirements, or other contract-related requirements. "Underlying fund" or "fund" refers to the underlying mutual fund, collective trust, or exchanged traded fund ("ETF") in which the investment option invests.The FER is determined by the underlying fund and may be subject to fluctuation. The highest speculative-grade rating is Ba1. Index Performance: With respect to the Funds that display an index performance. Please confirm with your local John Hancock Representative if you have any questions about product, Fund or contract feature availability. Thus, the ability of a stable value fund to pay withdrawals at book value depends on the ability of the Stability Provider(s) to make payments under the Stabilizing Agreements. If the weighted value of certain indexes changes by more than 2%, John Hancock reserves the right to reset the crediting rate on October 1 or April 1. This category can include corporate or government ultrashort bond portfolios, but it excludes international, convertible, multisector, and high yield bond portfolios. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. 83. Tableofcontents 2 Your fund at a glance 4 Management's discussion of fund performance 6 A look at performance 8 Your expenses 10 Fund's investments 13 Financial statements 16 Financial highlights 21 Notes to financial statements 29 Report of independent registered public accounting firm 30 Tax information 31 Shareholder meeting 32 Evaluation of advisory and subadvisory agreements by the . Source: Morningstar Direct for Mutual Funds, as of the most recent month end. Allocation percentages may vary or be adjusted due to market or economic conditions or other reasons as set out in the prospectus. As a result of this review, or if requested by a fund company, additional restrictions may be imposed on a participant's retirement account, including but not limited to:Applying redemption fees and/or trade restrictions as requested by the underlying fund manager. 5A. S&PCredit ratings of AA- or better are considered to be high credit quality; credit ratings of BBB- are good credit quality and the lowest category of investment grade; credit ratings BB+ and below are lower-rated securities (junk bonds); and credit ratings of CCC+ or below have high default risk. if your plan has selected the John Hancock Stable Value Fund as an Investment Option for its Contract . Refer to the prospectus of the underlying fund for details.When calculating the Expense Ratio of the sub-account, the net expense ratio of the underlying fund is used. 142. In particular, allocating assets to a small number of options concentrated in particular business or market sectors will subject your account to increased risk and volatility. Peer groups are unmanaged and cannot be invested in directly. If the John Hancock Stable Value Guaranteed Investment Fund ('SVGIF') is selected or if the Fund selected invests in the SVGIF, John Hancock may earn more from amounts invested in its general account via SVGIF than the interest amount it credits to SVGIF contract holders, depending on investment and market conditions affecting the general account, in which case this 'spread' revenue is retained by John Hancock. An investment in a sub-account will fluctuate in value to reflect the value of the underlying portfolio and, when redeemed, may be worth more or less than original cost. Information Concerning John Hancocks Short-Term Trading Policy The group annuity contract is not designed for short-term trading. The risk that John Hancock will default on its obligations under the contract or that other events could render the contract invalid. For more details, see Risk Disclosures section of this booklet. John Hancock Life Insurance Company has a more than 30-year track record of backing guaranteed interest contracts and has been a stable value asset manager since 2006, with total stable value assets under management above $2.7 billion with over 12,000 plans 1. The objective of the John Hancock Stable Value Fund is preservation of capital and returns that beat money market funds over a full interest rate cycle. Performance data reflects changes in the prices of a sub-account's investments (including the shares of an underlying mutual fund, collective trust, or ETF), reinvestment of dividends and capital gains and deductions for the sub-account charges.The performance data presented represents past performance. 3A. The Plan invests in the John Hancock Stable Value Fund which is a collective investment trust fund sponsored by John Hancock. Timely payment under unsecured fixed income securities is dependent entirely upon the performance of the issuer, guarantor or counterparty. Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. John Hancock Stable Value Fund . The trustee of a stable value fund and/or the manager or sponsor of the underlying investments of a stable value fund typically endeavor to maintain one or more Stabilizing Agreements (also known as a Wrap Agreement) with Stability Provider(s) (also known as Wrap Providers) in an attempt to maintain the book value of the fund or the underlying investments. The credit quality breakdown does not give effect to the impact of any credit derivative investments made by the fund.Moody'sThe rating scale, running from a high of Aaa to a low of C, comprises 21 notches. **The performance data presented represents past performance. Any change in the FER of an underlying fund will affect the Expense Ratio of the investment option which invests in the underlying fund.The ER applies daily at a rate equivalent to the annual rate shown, and may vary to reflect changes in the expenses of an underlying fund and other factors.For Expense Ratio information current as of the most recent quarter end, please refer to the monthly Return and Fees listing available from John Hancock upon request. "John Hancock Stable Value Guaranteed Income Fund provides an option to retirement . For more information or to order prospectuses for the underlying investments, call 800-395-1113 and speak to a client account representative. The lowest investment-grade rating is Baa3. This design allows money market funds to maintain a fixed net asset value and daily liquidity at the same time. The availability of products, Funds and contract features may be subject to Broker-Dealer Firm approval, State approval, Broker Licensing requirements, tax law requirements, or other contract-related requirements. This letter is not a rule, regulation or statement of the Commission, and the Commission has neither approved nor . The actual market value of the underlying assets may, at times, be greater than or less than the book value of the Fund. The lowest investment-grade rating is Baa3. The fund invests a portion of its assets (including cash and cash equivalents) in a separate account of John Hancock Life & Health Insurance Company (JHLH). The rate is generally guaranteed for six months. 3A. Funds are placed in a category based on their portfolio statistics and compositions over the past three years. For further details, please refer to the Offering Circular and Declaration of Trust. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. ****Expense Ratio (ER) This material shows expenses for a specific unit class for investment options available under a John Hancock group annuity contract. Contact your John Hancock representative if you wish to obtain a copy. Morningstar calculates monthly breakpoints using the effective duration of the Morningstar Core Bond Index in determining duration assignment. Listed holdings do not represent all of the holdings in the underlying fund. AThe amounts displayed below represent the gross and net expense ratios of the underlying fund in which the sub-account invests. John Hancock Life Insurance Company (U.S.A.) makes available a platform of investment alternatives to sponsors or administrators of retirement plans without regard to the individualized needs of any plan. The lowest investment-grade rating is Baa3.
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